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

September 23, 2021

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

Second Quarter 2021

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

i

The net worth of households and nonprofits rose to 

$141.7 trillion during the second quarter of 2021. The 

value of directly and indirectly held corporate equities 

increased $3.5trillion and the value of real estate 

increased $1.2trillion.

Domestic nonfinancialdebt outstanding was $63.3

trillion at the end of the second quarter of 2021, of 

which household debt was $17.3 trillion, nonfinancial 

business debt was $18.0 trillion, and total government 

debt was $28.0trillion.

Domestic nonfinancialdebt expanded 6.4 percent at an 

annual rate in the secondquarter of 2021, down from an 

annual rate of 6.7 percent in the previous quarter.

Household debtincreased 7.9 percent at an annual rate 

in the secondquarter of 2021. Consumer credit grew at 

an annual rate of 8.6 percent, while mortgage debt 

(excluding charge-offs) grew at an annual rate of 8

percent.

Nonfinancial business debt rose at an annual rate of 

1.4 percent in the second quarter of 2021, downfrom a 

4.3 percent annual rate in the previous quarter.

Federal government debt increased 9.6percent at an 

annual rate in the secondquarter of 2021, up from a 9

percent annual rate in the previous quarter.

State and local government debt expanded at an 

annual rate of 3.1 percent in the second quarter of 2021, 

after expanding at an annual rate of 3.5 percent in the 

previous quarter.

Recent Developments in Household Net Worth and 

Domestic Nonfinancial Debt

Household Net Worth and Growth of Domestic Nonfinancial Debt

Year

Household 

net worth1

Growth of domestic nonfinancial debt2

Total Households Businesses

Federal 

government

State and 

local gov’ts

2011 66,931 3.6 0.1 2.4 10.8 -1.0

2012 71,901 4.7 0.5 5.6 10.1 -0.3

2013 80,611 4.2 2.3 4.9 6.7 -0.2

2014 86,614 3.8 1.2 6.8 5.4 -2.5

2015 89,639 4.4 2.3 7.0 5.0 0.4

2016 94,744 4.4 3.1 5.1 5.6 1.0

2017 103,473 4.2 3.9 6.1 3.7 -0.0

2018 104,345 4.7 3.1 4.4 7.6 -1.3

2019 116,832 4.7 3.3 4.9 6.6 -0.1

2020 130,688 12.4 3.8 8.9 24.1 2.9

2019: Q2 112,473 3.5 4.2 4.2 3.1 -1.7

Q3 113,176 5.8 3.2 5.9 8.9 0.8

Q4 116,832 3.3 3.5 2.2 4.2 3.0

2020: Q1 110,573 11.7 3.6 18.9 14.1 0.9

Q2 118,491 26.8 -0.1 15.2 62.5 3.5

Q3 122,749 4.1 5.6 0.1 6.0 5.5

Q4 130,688 5.1 6.1 0.5 8.4 1.6

2021: Q1 135,818 6.7 6.7 4.3 9.0 3.5

Q2 141,668 6.4 7.9 1.4 9.6 3.1

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

 seasonally adjusted.

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

 adjusted level, shown at an annual rate.
ii
iii

Topic Description

Derivation of U.S. Net Wealth Derivation of U.S. Net Wealth (table B.1) has been revised to 

reflect improved estimates for domestic corporations’ nonfinancial 

assets. Domestic corporations’ nonfinancial assets are now 

estimated as the market value of corporate equity, plus foreign 

direct investment (equity), plus total liabilities, less total financial 

assets. 

Nonprofit organizations other loans 

and advances receivable

Nonprofit organizations' other loans and advances receivable, 

previously shown as other notes and loans receivable on 

supplementary table B.101.n, have been included in the 

instrument tables other loans and advances (tables F.216 and 

L.216). Correspondingly, the household sector (table B.101.h), 

the household and nonprofit organizations sector (tables F.101, 

L.101, and B.101), and the nonfinancial noncorporate business 

sector (tables F.104, L.104, and B.104) now include loans from 

nonprofit organizations.

Security brokers and dealers’ debt 

security short sales

Security brokers and dealers sector (tables F.130 and L.130) 

holdings of debt securities have been revised beginning 2001:Q3 

to reflect improved methodology in accounting for short positions 

in Treasury securities, agency- and GSE-backed securities, and 

corporate and foreign bonds. 

Other financial business investment 

in security brokers and dealers

The other financial business sector (tables F.132 and L.132) has 

been revised to reflect the transition of investment banks to bank 

holding companies (tables F.131 and L.131) in 2009:Q1. 

Previously, investment bank funding of their security broker and 

dealer subsidiaries (asset) was reflected in the other financial 

business sector, with corresponding issuance of commercial 

paper and corporate bonds (liabilities).

Holding company time and savings

deposits

The holding company sector's (tables F.131 and L.131) cash 

balances at depository institution affiliates have been reclassified 

from net transactions with depository affiliates to time and savings 

deposits to better align with bank Call Report liabilities.

National Income and Product 

Accounts comprehensive update

The statistics in this publication reflect the 2021 annual update of 

the National Income and Product Accounts (NIPAs) released by 

the Bureau of Economic Analysis (BEA) on July 29, 2021, as well 

as information for 2021:Q2 released by BEA on August 26, 2021.

See the August 2021 issue of the Survey of Current Business at 

https://apps.bea.gov/scb/ for details on the 2021 annual update.

Rest of the world sector Rest of the world sector data (tables F.133 and L.133) have been 

revised beginning 2016:Q1 to reflect new data from BEA for the 

U.S. international transactions accounts and the U.S. 

international investment positions accounts. BEA's changes are 

detailed in the July 2021 issue of the Survey of Current Business.

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

sectors have been revised beginning in 2016 to reflect updated 

annual estimates of fixed assets from BEA.

Release Highlights

Second Quarter 2021
iv

Topic Description

Private pension benchmark Assets of the private pension fund sector (tables F.118, F.118.b, 

F.118.c, L.118, L.118.b, and L.118.c) have been revised 

beginning 2019:Q1 to reflect new 2019 plan year data from U.S. 

Internal Revenue Service/Department of Labor/Pension Benefit 

Guaranty Corporation Form 5500.

Seasonal adjustment Seasonal factors for quarterly transactions have been 

recalculated from 2010:Q1 through 2019:Q4. Seasonal factors 

are extrapolated beginning 2020:Q1 due to the impact of COVID19 on seasonal patterns in 2020. Seasonal factors are generated 

using the X-13-ARIMA seasonal adjustment program from the 

U.S. Census Bureau.
v

Financial Accounts of the United States

The Statistical Release Z.1, Financial Accounts of the 

United States, or Financial Accounts,is organized into 

the following sections:

■ Matrices summarizing transactions and levels 

across sectors and tables on debt growth, net 

national wealth, gross domestic product (GDP), 

national income, saving, and so on

■ Transactions of financial assets and liabilities, 

by sector and by financial instrument 

■ Levels of financial assets and liabilities, by 

sector and by financial instrument

■ Balance sheets, including nonfinancial assets, 

and changes in net worth for households and 

nonprofit organizations, nonfinancial corporate 

businesses, and nonfinancial noncorporate 

businesses

■ Supplementary tablesincluding balance sheets 

for the household sector, nonprofit organization 

sector, the household and nonprofit 

organization sector with additional equity and 

debt detail, and domestic hedge funds, as well 

as tables detailing stocks and flows of fixed 

assets

■ Integrated Macroeconomic Accounts(IMA)

The IMArelate production, income, saving, and capital 

formation from the Bureau of Economic Analysis’s 

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

changes in net worth from the Financial Accounts on a 

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

the Federal Reserve Board and BEA and are based on 

international guidelines and terminology as defined in 

the System of National Accounts (SNA2008).

Federal Reserve Board staff have taken many steps over 

the past several years to conform the Financial Accounts

with the SNA2008 guidelines. Nonetheless, a few 

important differences remain, in particular, the 

following in the Financial Accounts:

■ The purchase of consumer durables is treated as 

investment rather than as consumption.

■ Nonfinancial noncorporate businesses (which 

are often small businesses) are shown in a 

separate sector rather than being included in the 

household sector.

■ Some debtsecurities are recorded at book value 

rather than market value.

Concepts of Levels and Transactions in 

the SNA and the Financial Accounts

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

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

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

Financial Accounts, the levels are reported as of the end 

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

the level from one period to the next is called the 

economic flow, and can be decomposed into three broad 

elements: transactions, which measure the exchange of 

assets; revaluations, which measure holding gains and 

losses; and other changes in volume, which measure 

discontinuities or breaks in time series due to disaster 

losses or a change in source data or definition. In 

practice, other volume changes are relatively rare, and 

revaluations occur mainly for series carried at market 

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

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

level is equal to the transactions element.

Growth Rates

Growth rates calculated from levels include revaluations 

and other changes in volume. In order to isolate the 

effect of transactions on the growth of a given asset or 

liability, users should calculate the ratio of transactions

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

Growth rates in table D.1 are calculated by dividing 

transactions at a seasonally adjusted annual rate from 

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

previous period from table D.3. Growth rates calculated 

from changes in unadjusted levels may differ from those 

in table D.1.

Seasonal Adjustment

Seasonal factors are recalculated and updated every 

September with the release of second-quarter data. 

Series that exhibit significant seasonal patterns are 

adjusted. The seasonal factors are generated using the X13-ARIMA seasonal adjustment program from the U.S. 

Census Bureau, estimated using the most recent 10 years 

of transaction data.Because the effects of the recent 

financial crisis resulted in distortions in the estimated 

seasonal factors for some series, seasonal factors for 

these series have been extrapolated using pre-crisis data.

Seasonally adjusted levels shown in table D.3 are 

derived by carrying forward year-end levels by 

seasonally adjusted transactions.

Explanatory Notes
vi

Data Revisions 

Data shown for the most recent quarters are based on 

preliminary and potentially incomplete information. A 

summary list of the most recent data available for each 

sector is provided in a table following these notes. 

Nonetheless, when source data are revised or estimation 

methods are improved, all data are subject to revision.

There is no specific revision schedule; rather, data are 

revised on an ongoing basis. In each release of the 

Financial Accounts,major revisions are highlighted at 

the beginning of the publication.

Discrepancies 

The data in the Financial Accounts come from a large 

variety of sources and are subject to limitations and 

uncertainty due to measurement errors, missing 

information, and incompatibilities among data sources.

The size of this uncertainty cannot be quantified, but its 

existence is acknowledged by the inclusion of 

“statistical discrepancies” for various sectors and 

financial instruments.

The discrepancy for a given sector is defined as the 

difference between the aggregate value of the sector’s 

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

Sources of funds are gross savings less net capital 

transfers paid and net increase in liabilities and equity; 

uses of funds are capital expenditures and the net 

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

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

net lender of funds in the a ccounts. In the reverse case, 

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

data for deriving gross savings come from the BEA’s 

NIPA. For a financial instrument category, the 

discrepancy is defined as the difference between the 

measurement of funds raised through the financial 

instrument and funds disbursed through that instrument. 

The relative size of the statistical discrepancy is one 

indication of the quality of the underlying source data.

Note that differences in seasonal adjustment procedures 

sometimes result in quarterly discrepancies that partially 

or completely offset each other in the annual data.

Financial Accounts Guide 

Substantially more detail on the construction of the 

Financial Accountsis available in the Financial 

Accounts Guide, which provides interactive, online 

documentation for each data series. The tools and 

descriptions in the guide are designed to help users 

understand the structure and content of the Financial

Accounts.

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

according to a unique string of patterned numbers and 

letters. The series structure page of the guide provides a 

breakdown of what the letters and numbers represent in 

the series mnemonics. Some data submissions to 

international organizations are also available in the 

guide. The guide is updated with thequarterly release 

and is available online:

www.federalreserve.gov/apps/fof

Enhanced Financial Accounts and Data 

Visualization 

Additional supplementary information is available 

online in the Enhanced Financial Accounts, which 

augment the Financial Accounts with finer detail, 

additional types of activities, higher-frequency data, and 

more-disaggregated data.Linksto the Enhanced 

Financial Accounts are available from both the 

Financial Accounts Guidepage and the main release 

page. In addition, interactive online data visualizations

are available for selected components of the Financial 

Accounts and Enhanced Financial Accounts. Links are 

available also on the same pages.

Production Schedule 

The Financial Accounts are published four times per 

year, about 10 weeks following the end of each calendar 

quarter. The publication is available online:

www.federalreserve.gov/releases/Z1

This website also provides CSV files of quarterly data 

for transactions at a seasonally adjusted annual rate, 

unadjusted transactions, levels outstanding, balance 

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

In addition, the data are available as customizable

datasets through the Federal Reserve Board’s Data 

Download Program online:

www.federalreserve.gov/datadownload/default.htm

Print Subscription Information 

The Federal Reserve Board charges a fee for 

subscriptions to print versions of statistical releases.

Inquiries regarding print versions should be directed to 

the following office:

Publications Services, Stop 127

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue, N.W.

Washington, DC 20551

(202) 452-3245
vii

Sector Table Available at time of publication

National income and product 

accounts (NIPA) 

(various tables) 

Second estimate, seasonally adjusted, for 2021:Q2. Corporate 

profits through 2021:Q2 (preliminary). Government receipts and 

expenditures unadjusted transactions from 1952:Q1 forward. 

GDP and income unadjusted transactions from 2002:Q1 

forward. Many BEA series are downloaded via Haver Analytics. 

Households and nonprofit

organizations sector

(tables F.101 and L.101)

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

Data for consumer credit, which are estimated directly, are 

available through 2021:Q2. Internal Revenue Service Statistics 

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

organizations are available through 2018; private foundations 

and Section 4947(a)(1) Nonexempt Charitable Trusts are 

available through 2017 (table B.101.n). Data on hedge funds 

from SEC forms PF and ADV through 2021:Q1 (table B.101.f).

Nonfinancial corporate business 

(tables F.103 and L.103)

Quarterly Financial Report (QFR) of the Census Bureau through 

2021:Q2; IRS/SOI data through 2019. Securities offerings, 

mortgages, bank loans, commercial paper, and other loans 

through 2021:Q2. Corporate farm data through 2019; USDA 

forecast through 2021:Q2.

Nonfinancial noncorporate business

(tables F.104 and L.104)

IRS/SOI data through 2018; bank and finance company loans, 

and mortgage borrowing through 2021:Q2. Noncorporate farm 

data through 2019; USDA forecast through 2021:Q2.

Federal government

(tables F.106 and L.106)

Data from the Monthly Treasury Statement of Receipts and 

Outlays and Monthly Statement of the Public Debt through 

2021:Q2. Data on loan programs through 2021:Q2.

State and local governments

(tables F.107 and L.107)

Gross offerings and retirements of municipal securities, deposits 

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

through 2021:Q2. Data for total financial assets from Census

Bureau through 2018:Q2. Additional financial asset detail from 

comprehensive annual financial reports of state and local 

governments through 2011:Q2.

Monetary authority

(tables F.109 and L.109)

All data through 2021:Q2.

U.S.-chartered depository 

institutions

(tables F.111 and L.111)

All data through 2021:Q2.

Foreign banking offices in U.S.

(tables F.112 and L.112)

All data through 2021:Q2.

Banks in U.S.-affiliated areas

(tables F.113 and L.113)

All data through 2021:Q2.

Credit unions

(tables F.114 and L.114)

All data through 2021:Q2.

Property-casualty insurance 

companies

(tables F.115 and L.115)

All data through 2021:Q2.

Description of Most Recent Data Available
viii

Sector Table Available at time of publication

Life insurance companies

(tables F.116 and L.116)

All data through 2021:Q2.

Private pension funds

(tables F.118 and L.118)

Internal Revenue Service/Department of Labor Form 5500 data 

through 2019. Investment Company Institute data through 

2021:Q1. BEA annual actuarial liability data through 2020: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 2021:Q2. BEA annual 

actuarial liability data through 2020:Q4.

State and local government 

employee retirement funds

(tables F.120 and L.120)

Detailed annual survey data through 2020:Q2 and quarterly 

survey data through 2021:Q1 from the Census Bureau.

Investment Company Institute data through 2021:Q1. BEA 

annual actuarial liability data through 2020:Q4.

Money market funds

(tables F.121 and L.121)

All data through 2021:Q2.

Mutual funds

(tables F.122 and L.122)

All data through 2021:Q2.

Closed-end funds

(tables F.123 and L.123)

All data through 2021:Q2.

Exchange-traded funds

(tables F.124 and L.124)

All data through 2021:Q2.

Government-sponsored enterprises 

(GSEs)

(tables F.125 and L.125)

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

FCS, and FHLB through 2021:Q2. FICO was dissolved in 

2020:Q2.

Agency- and GSE-backed 

mortgage pools

(tables F.126 and L.126)

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

Mae through 2021:Q2.

Issuers of asset-backed securities 

(ABS)

(tables F.127 and L.127)

All data for private mortgage pools, consumer credit, business 

loans, student loans, consumer leases, and trade credit 

securitization through 2021:Q2.

Finance companies

(tables F.128 and L.128)

All data through 2021:Q2.

Real estate investment trusts 

(REITs)

(tables F.129 and L.129)

All data through 2021:Q2.

Security brokers and dealers

(tables F.130 and L.130)

FOCUS and FOGS reports through 2021:Q2.

Holding companies

(table F.131 and L.131)

All data through 2021:Q2.

Other financial business

(tables F.132 and L.132)

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

Rest of the world

(tables F.133 and L.133)

NIPA estimates, international transaction accounts, depository 

institutions’ Call Reports, and Treasury International Capital 

System through 2021:Q2. International investment position 

through 2021:Q1.
ix

Title Table Page

Summaries

Financial Accounts Matrix—Transactions 1

Financial Accounts Matrix—Levels 3

Debt Growth by Sector D.1 5

Borrowing by Sector D.2 6

Debt Outstanding by Sector D.3 7

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

Distribution of Gross Domestic Product F.2 9

Distribution of National Income F.3 10

Saving and Investment F.4 11

Net Capital Transfers F.5 12

Derivation of Measures of Personal Saving F.6 13

Assets and Liabilities of the Personal Sector L.6 14

Title

Transactions Levels

Table Page Table Page

Sectors

Domestic Nonfinancial F.100 15 L.100 77

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

Nonfinancial Business F.102 17 L.102 79

Nonfinancial Corporate Business F.103 18 L.103 80

Nonfinancial Noncorporate Business F.104 19 L.104 81

General Government F.105 20 L.105 82

Federal Government F.106 21 L.106 83

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

Domestic Financial F.108 23 L.108 85

Monetary Authority F.109 24 L.109 86

Private Depository Institutions F.110 25 L.110 87

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

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

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

Credit Unions F.114 29 L.114 90

List of Data Tables
x

Sectors

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

Life Insurance Companies F.116 30 L.116 92

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

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

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

Private Pension Funds F.118 33 L.118 95

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

Private Pension Funds: Defined Contribution 

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

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

Federal Government Employee Retirement 

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

Federal Government Employee Retirement 

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

State and Local Government Employee Retirement 

Funds F.120 37 L.120 99

State and Local Government Employee 

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

State and Local Government Employee 

Retirement Funds: Defined Contribution 

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

Money Market Funds F.121 39 L.121 101

Mutual Funds F.122 39 L.122 101

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

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

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

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

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

Finance Companies F.128 43 L.128 105

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

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

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

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

Holding Companies F.131 47 L.131 109

Other Financial Business F.132 48 L.132 110

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

Instruments

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

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 50 L.201 112

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

Net Interbank Transactions F.203 51 L.203 113

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

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

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

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

Debt Securities F.208 55 L.208 117

Open Market Paper F.209 56 L.209 118

Treasury Securities F.210 57 L.210 119

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

Municipal Securities F.212 59 L.212 121

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

Loans F.214 61 L.214 123

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

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

Total Mortgages F.217 64 L.217 126

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

Multifamily Residential Mortgages F.219 65 L.219 127

Commercial Mortgages F.220 66 L.220 128

Farm Mortgages F.221 66 L.221 128

Consumer Credit F.222 67 L.222 129

Corporate Equities F.223 68 L.223 130

Mutual Fund Shares F.224 68 L.224 130

Trade Credit F.225 69 L.225 131

Life Insurance Reserves F.226 69 L.226 131

Pension Entitlements F.227 70 L.227 132

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

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

Direct Investment F.230 71 L.230 133
xii

Instruments

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

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

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

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

Sector Discrepancies F.7 76

Instrument Discrepancies F.8 76

Title

Balance Sheet Change in Net Worth

Table Page Table Page

Balance Sheet and Change in Net Worth

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

Nonfinancial Corporate Business B.103 139 R.103 142

Nonfinancial Noncorporate Business B.104 140 R.104 143

Title Table Page

Supplementary Tables

Balance Sheet of Households B.101.h 144

Balance Sheet of Nonprofit Organizations B.101.n 145

Balance Sheet of Households and Nonprofit Organizations with Debt and Equity

Holdings Detail B.101.e 146

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

Gross Fixed Investment F.4.g 148

Consumption of Fixed Capital F.4.c 149

Net Fixed Investment F.4.f 150

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

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy—Current Account S.1.a 152

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

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

Nonfinancial Noncorporate Business S.4.a 158

Nonfinancial Corporate Business S.5.a 161

Financial Business S.6.a 164

Central Bank S.61.a 167

 Private Depository Institutions S.62.a 169

 Insurance Companies S.63.a 172

 Pension Funds S.64.a 175

 Other Financial Business S.65.a 178

Federal Government S.7.a 181

State and Local Governments S.8.a 184

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

1

Z.1, September 23, 2021 Financial Accounts Matrix--Transactions for 2020

(Billions of dollars; seasonally adjusted)

Households State Domestic Domestic Instrument

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

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

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

1 Gross saving less net cap. transfers -- 5019.4 -- 2514.5 -- -2875.1 -- 461.6 -- 5120.4 -- 383.7 -- 593.2 -- 6097.3 -- 2 Capital consumption -- 1839.5 -- 2068.5 -- 303.5 -- 302.8 -- 4514.3 -- 270.1 -- -- -- 4784.4 -- 3 Net saving (1 less 2) -- 3179.9 -- 446.0 -- -3178.6 -- 158.8 -- 606.1 -- 113.6 -- 593.2 -- 1312.9 -- 4 Gross investment (5 plus 11) 5071.0 -- 2372.3 -- -2908.4 -- 446.9 -- 4981.9 -- 369.9 -- 486.4 -- 5838.1 -- 259.25 Capital expenditures 2453.7 -- 2384.5 -- 337.4 -- 458.6 -- 5634.1 -- 297.5 -- 0.2 -- 5931.8 -- 165.56 Consumer durables 1512.5 -- -- -- -- -- -- -- 1512.5 -- -- -- -- -- 1512.5 -- -- 7 Residential 738.5 -- 156.3 -- 0.8 -- 8.9 -- 904.6 -- 3.0 -- -- -- 907.5 -- -- 8 Nonresidential 217.1 -- 2287.9 -- 339.5 -- 432.3 -- 3276.9 -- 294.6 -- -- -- 3571.4 -- -- 9 Inventory change -- -- -59.6 -- -- -- -- -- -59.6 -- -- -- -- -- -59.6 -- -- 10 Nonproduced nonfinancial assets -14.4 -- -0.2 -- -2.9 -- 17.3 -- -0.2 -- -- -- 0.2 -- -- -- -- 11 Net lending (+) or net borrowing (-) 2617.3 -- -12.1 -- -3245.8 -- -11.7 -- -652.3 -- 72.3 -- 486.2 -- -93.7 -- 93.712 Net acquisition of financial assets 3244.0 -- 1919.0 -- 1701.9 -- 378.0 -- 7242.8 -- 9625.7 -- 1283.2 -- 18151.6 -- -- 13 Net increase in liabilities and equity -- 626.7 -- 1931.1 -- 4947.6 -- 389.6 -- 7895.0 -- 9553.3 -- 797.0 -- 18245.4 -- 14 U.S. official reserve assets -- -- -- -- 8.9 0.0 -- -- 8.9 0.0 0.0 -- 0.0 9.0 9.0 9.0 -- 15 SDR certificates -- -- -- -- -- 0.0 -- -- -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- -0.0 -- -- -- -0.0 0.4 -- -- -- 0.4 -0.0 -0.417 Foreign deposits 7.8 -- 11.8 -- -- -- -- -- 19.6 -- -6.7 -- -- 101.2 12.9 101.2 88.318 Interbank claims -- -- -- -- -- -- -- -- -- -- 1506.5 1546.2 29.3 -- 1535.8 1546.2 10.419 Checkable dep. and currency 1712.1 -- 763.6 -- 1326.3 -- 90.8 -- 3892.9 -- 224.7 4272.7 155.6 -- 4273.1 4272.7 -0.520 Time and savings deposits 476.5 -- 226.0 -- -1.3 -- -9.6 -- 691.6 -- 6.3 795.2 97.3 -- 795.2 795.2 -- 21 Money market fund shares 337.4 -- 128.6 -- -- -- 7.9 -- 474.0 -- 225.3 701.3 2.0 -- 701.3 701.3 -- 22 Fed. funds and security repos -- -- 26.4 -- -- -- 19.3 -- 45.7 -- -303.6 -259.0 10.4 61.4 -247.5 -197.7 49.823 Debt securities -475.8 -9.9 55.5 617.7 0.0 4581.2 224.8 88.6 -195.4 5277.6 6338.7 903.5 44.4 6.6 6187.7 6187.7 -- 24 Open market paper -- -- 38.1 -62.3 -- -- 1.7 -- 39.7 -62.3 -52.8 -7.0 -45.3 11.0 -58.4 -58.4 -- 25 Treasury securities -124.8 -- 12.5 -- -- 4582.2 291.3 -- 179.1 4582.2 4480.8 -- -77.7 -- 4582.2 4582.2 -- 26 Agency- and GSE-backed sec. -346.1 -- 4.4 -- 0.0 -1.0 -71.4 -- -413.1 -1.0 1117.2 658.2 -47.0 -- 657.2 657.2 -- 27 Municipal securities -33.8 -9.9 0.5 4.7 -- -- 1.5 88.6 -31.7 83.4 110.3 -- 4.8 -- 83.4 83.4 -- 28 Corporate and fgn. bonds 28.8 -- -- 675.4 0.0 -- 1.8 -- 30.6 675.4 683.1 252.3 209.6 -4.4 923.3 923.3 -- 29 Loans 109.3 629.8 6.6 822.5 253.2 0.0 5.3 1.0 374.5 1453.3 1036.2 -31.1 74.8 63.3 1485.5 1485.5 -- 30 Depository inst. loans n.e.c. -- 20.4 -- 250.9 -- -- -- -- -- 271.3 412.9 75.6 -- 66.0 412.9 412.9 -- 31 Other loans and advances 118.0 168.6 -- 285.7 188.1 0.0 -- 1.0 306.1 455.3 -36.2 -107.9 74.8 -2.7 344.8 344.8 -- 32 Mortgages -5.5 452.7 6.6 285.9 3.3 0.0 5.3 -- 9.8 738.6 729.9 1.1 -- -- 739.7 739.7 -- 33 Consumer credit -3.1 -11.9 0.0 -- 61.7 -- -- -- 58.6 -11.9 -70.5 -- -- -- -11.9 -11.9 -- 34 Corporate equities 435.7 -- -127.5 -168.8 0.0 -- -3.4 -- 304.7 -168.8 -370.4 499.2 637.8 241.8 572.1 572.1 -- 35 Mutual fund shares -59.5 -- 10.6 -- -- -- 1.2 -- -47.7 -- -187.6 -226.8 8.6 -- -226.8 -226.8 -- 36 Trade credit 7.6 6.7 76.7 104.9 11.3 16.8 14.3 48.4 110.1 176.9 40.7 101.9 83.5 -0.4 234.2 278.5 44.237 Life insurance reserves 94.2 -- -- -- -- 0.2 -- -- 94.2 0.2 15.7 85.0 -9.1 15.5 100.7 100.7 -- 38 Pension entitlements 479.8 -- -- -- -- -- -- -- 479.8 -- 91.4 510.7 -13.6 46.9 557.6 557.6 -- 39 Taxes payable -- -- -- 26.8 -18.6 -- 13.1 -- -5.5 26.8 -- -8.2 -- -- -5.5 18.7 24.240 Equity in noncorp. business 50.2 -- -- 43.3 -- -- -- -- 50.2 43.3 -- 6.9 -- -- 50.2 50.2 -- 41 U.S. direct investment: debt -- -- -55.8 -- -- -- -- -- -55.8 -- -10.3 -- -- -66.1 -66.1 -66.1 -- 42 U.S. direct investment: equity -- -- 282.2 -- -- -- -- -- 282.2 -- 48.6 -- -- 330.9 330.9 330.9 -- 43 Foreig n direct investment: debt -- -- -- -42.3 -- -- -- -- -- -42.3 -- 8.4 -33.9 -- -33.9 -33.9 -- 44 Foreign direct investment: equity -- -- -- 181.4 -- -- -- -- -- 181.4 -- 16.9 198.3 -- 198.3 198.3 -- 45 Miscellaneous 68.7 0.1 514.0 345.5 122.0 349.5 14.1 251.6 718.9 946.7 969.8 630.6 -2.1 -13.1 1686.5 1564.2 -122.346 Sector discrepancies (1 less 4) -51.7 -- 142.1 -- 33.3 -- 14.8 -- 138.5 -- 13.9 -- 106.8 -- 259.2 -- 259.2General 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, September 23, 2021 Financial Accounts Matrix--Transactions

Households State Domestic Domestic Instrument

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

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

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

1 Gross saving less net cap. transfers -- 156000105 -- 146000105 -- 316000105 -- 216000105 -- 386000105 -- 796000105 -- 266000105 -- 896000105 -- 2 Capital consumption -- 156300005 -- 146300005 -- 316300001 -- 216300001 -- 386300005 -- 796300005 -- -- -- 886300005 -- 3 Net saving (1 less 2) -- 156006305 -- 146006305 -- 316006305 -- 216006305 -- 386006305 -- 796006305 -- 266000105 -- 896006305 -- 4 Gross investment (5 plus 11) 155090005 -- 145090005 -- 315090005 -- 215090005 -- 385090005 -- 795090005 -- 265090005 -- 895090005 -- 9070050055 Capital expenditures 155050005 -- 145050005 -- 315050005 -- 215050005 -- 385050005 -- 795019005 -- 265420005 -- 895050005 -- 9060001056 Consumer durables 155111003 -- -- -- -- -- -- -- 155111003 -- -- -- -- -- 155111003 -- -- 7 Residential 155012005 -- 145012005 -- 315012065 -- 215012063 -- 385012005 -- 125012063 -- -- -- 885012005 -- -- 8 Nonresidential 165013005 -- 145013005 -- 315013005 -- 215013005 -- 385013005 -- 795013005 -- -- -- 885013005 -- -- 9 Inventory change -- -- 145020005 -- -- -- -- -- 145020005 -- -- -- -- -- 145020005 -- -- 10 Nonproduced nonfinancial assets 155420003 -- 105420005 -- 315420003 -- 215420003 -- 385420005 -- -- -- 265420005 -- -- -- -- 11 Net lending (+) or net borrowing (-) 155000005 -- 145000005 -- 315000005 -- 215000005 -- 385000005 -- 795000005 -- 265000005 -- 895000005 -- 90500000512 Net acquisition of financial assets 154090005 -- 144090005 -- 314090005 -- 214090005 -- 384090005 -- 794090005 -- 264090005 -- 894090005 -- -- 13 Net increase in liabilities and equity -- 154190005 -- 144194005 -- 314190005 -- 214190005 -- 384194005 -- 794194005 -- 264194005 -- 894194005 -- 14 U.S. official reserve assets -- -- -- -- 313011005 313111303 -- -- 313011005 313111303 713011005 -- 263011005 263111005 893011005 893111005 -- 15 SDR certificates -- -- -- -- -- 713014003 -- -- -- 713014003 713014003 -- -- -- 713014003 713014003 -- 16 Treasury currency -- -- -- -- -- 313112003 -- -- -- 313112003 713012003 -- -- -- 713012003 313112003 90301200517 Foreign deposits 153091003 -- 103091003 -- -- -- -- -- 383091005 -- 633091003 -- -- 263191005 893091005 263191005 90309100518 Interbank claims -- -- -- -- -- -- -- -- -- -- 794010005 794110005 264016005 -- 894010005 794110005 90401000519 Checkable dep. and currency 153020005 -- 143020005 -- 313020005 -- 213020005 -- 383020005 -- 793020005 793120005 263020005 -- 893020005 793120005 90302000520 Time and savings deposits 153030005 -- 143030005 -- 313030003 -- 213030000 -- 383030005 -- 793030005 703130005 263030005 -- 703130005 703130005 -- 21 Money market fund shares 153034005 -- 143034005 -- -- -- 213034003 -- 383034005 -- 793034005 634090005 263034003 -- 634090005 634090005 -- 22 Fed. funds and security repos -- -- 102051003 -- -- -- 212051003 -- 382051005 -- 792050005 792150005 262051005 262151003 892050005 892150005 90205000523 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894122005 894122005 -- 24 Open market paper -- -- 103069100 103169100 -- -- 213069103 -- 383069105 103169100 793069175 793169175 263069103 263169105 893169175 893169175 -- 25 Treasury securities 153061105 -- 143061105 -- -- 313161105 213061105 -- 383061105 313161105 793061105 -- 263061105 -- 313161105 313161105 -- 26 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893161705 893161705 -- 27 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 383162005 383162005 -- 28 Corporate and fgn. bonds 153063005 -- -- 103163003 313063763 -- 213063003 -- 383063005 103163003 793063005 793163005 263063005 263163005 893063005 893163005 -- 29 Loans 154023005 154123005 144023005 144123005 314023005 314123005 213065005 213169203 384023005 384123005 794023005 794123005 263069500 264123005 894123005 894123005 -- 30 Depository inst. loans n.e.c. -- 153168005 -- 143168005 -- -- -- -- -- 383168005 793068005 793168005 -- 263168005 793068005 793068005 -- 31 Other loans and advances 153069005 153169005 -- 143169005 313069005 313169003 -- 213169203 383069005 383169005 793069005 793169005 263069500 263169005 893169005 893169005 -- 32 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 123165005 -- -- 893065005 893065005 -- 33 Consumer credit 163066223 153166000 143066005 -- 313066220 -- -- -- 383066005 153166000 793066005 -- -- -- 153166000 153166000 -- 34 Corporate equities 153064105 -- 103064103 103164103 313064105 -- 213064103 -- 383064105 103164103 793064105 793164105 263064105 263164100 893064105 893064105 -- 35 Mutual fund shares 153064205 -- 103064203 -- -- -- 213064203 -- 383064205 -- 793064205 653164205 263064203 -- 653164205 653164205 -- 36 Trade credit 163070005 163170005 143070005 143170005 313070000 313170005 213070003 213170003 383070005 383170005 793070005 793170005 263070005 263170005 893070005 893170005 90307000537 Life insurance reserves 153040005 -- -- -- -- 313140003 -- -- 153040005 313140003 793040005 543140005 543141905 263140005 893140005 893140005 -- 38 Pension entitlements 153050005 -- -- -- -- -- -- -- 153050005 -- 543050005 583150005 543151905 263150005 893150005 893150005 -- 39 Taxes payable -- -- -- 143178005 313078000 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 90307800540 Equity in noncorp. business 152090205 -- -- 112090205 -- -- -- -- 152090205 112090205 -- 662090003 -- -- 152090205 152090205 -- 41 U.S. direct investment: debt -- -- 103092305 -- -- -- -- -- 103092305 -- 793092305 -- -- 263192305 263192305 263192305 -- 42 U.S. direct investment: equity -- -- 103092105 -- -- -- -- -- 103092105 -- 793092105 -- -- 263192101 263192101 263192101 -- 43 Foreig n direct investment: debt -- -- -- 143192305 -- -- -- -- -- 143192305 -- 793192305 263092303 -- 263092303 263092303 -- 44 Foreign direct investment: equity -- -- -- 143192105 -- -- -- -- -- 143192105 -- 793192105 263092101 -- 263092101 263092101 -- 45 Miscellaneous 153090005 543077073 143090005 143190005 313090005 313190005 213093003 223073045 383090005 383190005 793090005 793190005 263076005 263190005 893090005 893190005 90309000546 Sector discrepancies (1 less 4) 157005005 -- 107005005 -- 317005005 -- 217005005 -- 387005005 -- 797005005 -- 267005005 -- 897005005 -- 907005005General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

3

Z.1, September 23, 2021 Financial Accounts Matrix--Levels for 2020

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

Households State Domestic Domestic Instrument

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

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

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

1 Total financial assets 104442.1 -- 30988.0 -- 4665.2 -- 3901.3 -- 143996.5 -- 121802.1 -- 39843.0 -- 305641.7 -- -4820.22 Total liabilities and equity -- 17129.8 -- 97230.3 -- 26554.6 -- 8315.2 -- 149229.9 -- 125205.8 -- 26385.8 -- 300821.5 -- 3 Total liabilities -- 17129.8 -- 33635.5 -- 26554.6 -- 8315.2 -- 85635.1 -- 111279.2 -- 7673.2 -- 204587.6 -- 4 U.S. official reserve assets -- -- -- -- 111.7 50.9 -- -- 111.7 50.9 33.1 -- 50.9 133.7 195.6 184.6 -11.05 SDR certificates -- -- -- -- -- 5.2 -- -- -- 5.2 5.2 -- -- -- 5.2 5.2 -- 6 Treasury currency -- -- -- -- -- 23.1 -- -- -- 23.1 50.5 -- -- -- 50.5 23.1 -27.37 Foreign deposits 48.6 -- 142.8 -- -- -- -- -- 191.4 -- 0.7 -- -- 868.3 192.1 868.3 676.28 Interbank claims -- -- -- -- -- -- -- -- -- -- 3138.1 3258.2 152.9 -- 3291.0 3258.2 -32.99 Checkable dep. and currency 2885.5 -- 2441.5 -- 1732.1 -- 229.9 -- 7288.9 -- 694.3 9128.6 1142.6 -- 9125.8 9128.6 2.910 Time and savings deposits 10310.5 -- 1534.0 -- 1.0 -- 413.6 -- 12259.0 -- 723.1 13679.7 697.6 -- 13679.7 13679.7 -- 11 Money market fund shares 2548.2 -- 797.3 -- -- -- 34.5 -- 3380.0 -- 828.5 4335.6 127.1 -- 4335.6 4335.6 -- 12 Fed. Funds and security repos -- -- 39.8 -- -- -- 182.9 -- 222.6 -- 3592.5 2946.7 1075.2 1287.1 4890.4 4233.8 -656.613 Debt securities 4492.7 202.8 467.7 7198.2 0.5 23621.1 1917.2 3158.9 6878.0 34181.0 35906.3 14874.6 12906.1 4010.1 55690.5 53065.7 -2624.714 Open market paper -- -- 255.7 132.2 -- -- 79.2 -- 334.9 132.2 566.7 390.9 85.3 463.8 986.9 986.9 -- 15 Treasury securities 1747.5 -- 155.4 -- -- 23600.9 1111.9 -- 3014.8 23600.9 14561.0 -- 7070.8 -- 24646.6 23600.9 -1045.716 Agency- and GSE-backed sec. 314.8 -- 25.1 -- 0.0 20.2 466.5 -- 806.4 20.2 8413.7 10066.5 1195.7 -- 10415.8 10086.7 -329.217 Municipal securities 1923.3 202.8 31.6 591.2 -- -- 18.6 3158.9 1973.5 3952.9 2234.3 -- 108.5 -- 4316.3 3952.9 -363.418 Corporate and fgn. bonds 507.0 -- -- 6474.9 0.5 -- 240.9 -- 748.4 6474.9 10130.6 4417.3 4445.8 3546.3 15324.9 14438.4 -886.519 Loans 1257.4 16514.1 130.6 10508.0 1927.2 0.0 261.7 22.1 3576.9 27044.3 25239.0 1923.6 905.6 753.6 29721.5 29721.5 -- 20 Depository inst. loans n.e.c. -- 370.5 -- 2766.1 -- -- -- -- -- 3136.7 4216.0 380.7 -- 698.6 4216.0 4216.0 -- 21 Other loans and advances 1156.6 772.4 -- 2379.8 419.0 0.0 -- 22.1 1575.7 3174.3 2065.5 1317.4 905.6 55.0 4546.8 4546.8 -- 22 Mortgages 76.6 11186.1 94.8 5362.1 127.2 0.0 261.7 -- 560.3 16548.3 16213.4 225.4 -- -- 16773.7 16773.7 -- 23 Consumer credit 24.1 4185.0 35.8 -- 1381.0 -- -- -- 1440.9 4185.0 2744.1 -- -- -- 4185.0 4185.0 -- 24 Corporate equities 25634.0 -- 2552.1 41960.8 33.2 -- 250.0 -- 28469.4 41960.8 25985.6 12407.6 10449.2 10535.9 64904.3 64904.3 -- 25 Mutual fund shares 11074.8 -- 376.4 -- -- -- 112.8 -- 11564.0 -- 6969.2 19562.6 1029.4 -- 19562.6 19562.6 -- 26 Trade credit 279.0 376.3 5030.2 3666.9 84.9 435.1 263.7 1097.2 5657.7 5575.4 375.9 397.2 430.0 81.6 6463.6 6054.3 -409.427 Life insurance reserves 1867.0 -- -- -- -- 52.4 -- -- 1867.0 52.4 516.6 2248.9 1.6 83.8 2385.1 2385.1 -- 28 Pension entitlements 29797.8 -- -- -- -- -- -- -- 29797.8 -- 291.3 29963.7 2.4 127.8 30091.5 30091.5 -- 29 Taxes payable -- -- -- 450.8 437.0 -- 189.7 -- 626.6 450.8 -- 164.3 -- -- 626.6 615.0 -11.630 Equity in noncorp. business 12891.1 -- -- 12800.7 -- -- -- -- 12891.1 12800.7 -- 90.3 -- -- 12891.1 12891.1 -- 31 U.S. direct investment: debt -- -- 53.6 -- -- -- -- -- 53.6 -- 10.5 -- -- 64.1 64.1 64.1 -- 32 U.S. direct investment: equity -- -- 6831.8 -- -- -- -- -- 6831.8 -- 1344.8 -- -- 8176.6 8176.6 8176.6 -- 33 Foreign direct investment: debt -- -- -- 373.4 -- -- -- -- -- 373.4 -- 178.1 551.5 -- 551.5 551.5 -- 34 Foreign direct investment: equity -- -- -- 8833.2 -- -- -- -- -- 8833.2 -- 1428.7 10262.0 -- 10262.0 10262.0 -- 35 Miscellaneous 1355.6 36.6 10590.2 11438.1 337.7 2366.9 45.4 4037.0 12329.0 17878.7 16096.7 8617.4 59.1 263.0 28484.8 26759.1 -1725.7General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24), equity in noncorporate business (line 30), and foreign direct investment in the U.S. (FDI) equity (line 34) for domestic sectors or U.S. direct investment abroad equity for the rest of the world (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
Summary

4 Z.1, September 23, 2021 Financial Accounts Matrix--Levels

Households State Domestic Domestic Instrument

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

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

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

1 Total financial assets 154090005 -- 144090005 -- 314090005 -- 214090005 -- 384090005 -- 794090005 -- 264090005 -- 894090005 -- 9070050152 Total liabilities and equity -- 154190005 -- 144194005 -- 314190005 -- 214190005 -- 384194005 -- 794194005 -- 264194005 -- 894194005 -- 3 Total liabilities -- 154190005 -- 144190005 -- 314190005 -- 214190005 -- 384190005 -- 794190005 -- 264190005 -- 894190005 -- 4 U.S. official reserve assets -- -- -- -- 313011005 313111303 -- -- 313011005 313111303 713011005 -- 263011005 263111005 893011005 893111005 9030110055 SDR certificates -- -- -- -- -- 713014003 -- -- -- 713014003 713014003 -- -- -- 713014003 713014003 -- 6 Treasury currency -- -- -- -- -- 313112003 -- -- -- 313112003 713012003 -- -- -- 713012003 313112003 9030120057 Foreign deposits 153091003 -- 103091003 -- -- -- -- -- 383091005 -- 633091003 -- -- 263191005 893091005 263191005 9030910058 Interbank claims -- -- -- -- -- -- -- -- -- -- 794010005 794110005 264016005 -- 894010005 794110005 9040100059 Checkable dep. and currency 153020005 -- 143020005 -- 313020005 -- 213020005 -- 383020005 -- 793020005 793120005 263020005 -- 893020005 793120005 90302000510 Time and savings deposits 153030005 -- 143030005 -- 313030003 -- 213030000 -- 383030005 -- 793030005 703130005 263030005 -- 703130005 703130005 -- 11 Money market fund shares 153034005 -- 143034005 -- -- -- 213034003 -- 383034005 -- 793034005 634090005 263034003 -- 634090005 634090005 -- 12 Fed. Funds and security repos -- -- 102051003 -- -- -- 212051003 -- 382051005 -- 792050005 792150005 262051005 262151003 892050005 892150005 90205000513 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894022005 894122005 90402200514 Open market paper -- -- 103069100 103169100 -- -- 213069103 -- 383069105 103169100 793069175 793169175 263069103 263169105 893169175 893169175 -- 15 Treasury securities 153061105 -- 143061105 -- -- 313161105 213061105 -- 383061105 313161105 793061105 -- 263061105 -- 893061105 313161105 90306110316 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893061705 893161705 90306170317 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 893062005 383162005 90306200318 Corporate and fgn. bonds 153063005 -- -- 103163003 313063763 -- 213063003 -- 383063005 103163003 793063005 793163005 263063005 263163005 893063005 893163005 90306300319 Loans 154023005 154123005 144023005 144123005 314023005 314123005 213065005 213169203 384023005 384123005 794023005 794123005 263069500 264123005 894123005 894123005 -- 20 Depository inst. loans n.e.c. -- 153168005 -- 143168005 -- -- -- -- -- 383168005 793068005 793168005 -- 263168005 793068005 793068005 -- 21 Other loans and advances 153069005 153169005 -- 143169005 313069005 313169003 -- 213169203 383069005 383169005 793069005 793169005 263069500 263169005 893169005 893169005 -- 22 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 123165005 -- -- 893065005 893065005 -- 23 Consumer credit 163066223 153166000 143066005 -- 313066220 -- -- -- 383066005 153166000 793066005 -- -- -- 153166000 153166000 -- 24 Corporate equities 153064105 -- 103064103 103164103 313064105 -- 213064103 -- 383064105 103164103 793064105 793164105 263064105 263164100 893064105 893064105 -- 25 Mutual fund shares 153064205 -- 103064203 -- -- -- 213064203 -- 383064205 -- 793064205 653164205 263064203 -- 653164205 653164205 -- 26 Trade credit 163070005 163170005 143070005 143170005 313070000 313170005 213070003 213170003 383070005 383170005 793070005 793170005 263070005 263170005 893070005 893170005 90307000527 Life insurance reserves 153040005 -- -- -- -- 313140003 -- -- 153040005 313140003 793040005 543140005 543141905 263140005 893140005 893140005 -- 28 Pension entitlements 153050005 -- -- -- -- -- -- -- 153050005 -- 543050005 583150005 543151905 263150005 893150005 893150005 -- 29 Taxes payable -- -- -- 143178005 313078000 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 90307800530 Equity in noncorp. business 152090205 -- -- 112090205 -- -- -- -- 152090205 112090205 -- 662090003 -- -- 152090205 152090205 -- 31 U.S. direct investment: debt -- -- 103092305 -- -- -- -- -- 103092305 -- 793092305 -- -- 263192305 263192305 263192305 -- 32 U.S. direct investment: equity -- -- 103092105 -- -- -- -- -- 103092105 -- 793092105 -- -- 263192101 263192101 263192101 -- 33 Foreign direct investment: debt -- -- -- 143192305 -- -- -- -- -- 143192305 -- 793192305 263092303 -- 263092303 263092303 -- 34 Foreign direct investment: equity -- -- -- 143192105 -- -- -- -- -- 143192105 -- 793192105 263092101 -- 263092101 263092101 -- 35 Miscellaneous 153090005 543077073 143090005 143190005 313090005 313190005 213093003 223073045 383090005 383190005 793090005 793190005 263076005 263190005 893090005 893190005 903090005General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24), equity in noncorporate business (line 30), and foreign direct investment in the U.S. (FDI) equity (line 34) for domestic sectors or U.S. direct investment abroad equity for the rest of the world (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
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Z.1, September 23, 2021 5 y

D.1 Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest

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

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

 FG384104005 FG154104005 FG153165105 FG153166000 FG144104005 FG104104005 FG314104005 FG214104005 FG794104005 FG264104005

1986 11.96 11.36 13.75 9.14 11.41 13.81 13.93 10.94 24.93 3.18

1987 8.98 9.68 13.44 4.85 7.76 8.81 8.68 12.03 15.63 3.52

1988 9.19 9.76 11.79 6.67 9.96 10.99 8.61 5.98 12.88 0.36

1989 7.50 9.38 10.94 6.30 6.27 7.30 7.63 5.31 10.14 -0.28

1990 6.56 6.83 8.85 1.87 3.62 5.38 10.99 5.00 8.58 5.06

1991 4.74 5.63 7.01 -1.07 -2.12 -2.10 11.18 9.23 6.78 2.74

1992 4.67 5.21 6.49 1.13 -0.30 0.60 10.92 1.53 8.11 4.50

1993 5.77 6.09 5.51 7.44 3.07 5.23 8.40 5.29 11.32 15.67

1994 5.20 7.53 5.56 15.23 5.41 7.10 5.11 -3.95 13.52 -2.99

1995 4.90 6.98 4.86 14.39 5.87 6.58 4.38 -5.49 11.86 15.90

1996 5.24 7.05 6.18 9.05 5.52 5.27 4.60 -1.96 13.03 14.19

1997 5.57 6.55 6.11 5.52 8.53 8.62 1.46 4.95 12.07 10.36

1998 6.75 8.04 8.08 7.22 11.69 11.02 -0.26 6.20 19.54 4.93

1999 6.70 9.38 9.35 7.80 10.35 9.40 -0.68 3.26 16.71 2.77

2000 4.78 8.82 8.65 11.36 8.95 8.03 -6.30 1.43 11.71 7.36

2001 5.77 8.62 10.55 8.65 4.80 3.28 1.35 8.80 11.05 -1.26

2002 6.70 9.82 13.26 5.56 2.22 -0.09 6.81 11.09 8.63 7.51

2003 7.83 12.32 14.49 5.30 1.15 0.13 9.50 8.32 11.16 1.73

2004 9.10 11.58 13.44 5.57 5.69 3.17 8.31 11.59 9.46 7.99

2005 8.74 10.75 13.76 4.52 7.99 5.35 6.61 6.65 9.01 7.82

2006 8.56 10.64 11.19 5.18 10.00 7.68 3.92 4.40 10.42 21.42

2007 8.17 7.14 7.20 6.11 12.56 11.74 4.66 6.24 13.65 15.44

2008 5.75 -0.04 0.74 1.31 5.77 4.11 21.44 1.45 4.53 -10.39

2009 3.64 0.43 0.88 -3.58 -3.94 -4.92 20.41 4.72 -9.84 14.53

2010 4.34 -0.61 -1.50 -1.10 -0.73 -0.89 18.53 2.86 -4.18 9.53

2011 3.63 0.13 -0.59 4.13 2.41 5.10 10.82 -0.99 -3.13 7.23

2012 4.70 0.53 -1.09 5.76 5.65 6.33 10.12 -0.26 -0.89 8.43

2013 4.19 2.34 -0.12 6.10 4.88 6.22 6.67 -0.23 1.44 9.49

2014 3.78 1.18 -0.05 7.09 6.80 6.78 5.37 -2.47 1.98 8.64

2015 4.36 2.25 1.27 7.05 7.01 7.81 5.02 0.39 1.21 0.98

2016 4.35 3.10 2.06 6.95 5.13 3.33 5.56 0.97 2.82 1.19

2017 4.21 3.91 3.06 5.34 6.07 4.23 3.74 -0.05 2.33 12.07

2018 4.71 3.11 2.96 4.51 4.41 3.88 7.58 -1.26 2.05 5.09

2019 4.68 3.29 2.88 4.62 4.85 4.97 6.58 -0.06 2.12 5.17

2020 12.35 3.85 4.30 -0.28 8.85 9.17 24.06 2.90 5.48 1.56

2016 -- Q1 5.90 2.24 1.16 7.52 8.47 8.75 8.08 1.34 5.11 -3.74

 Q2 4.71 3.46 2.18 6.46 4.31 2.11 6.70 2.30 3.20 1.70

 Q3 4.66 3.98 2.46 6.68 5.72 4.49 5.16 0.77 3.75 -1.83

 Q4 1.88 2.61 2.41 6.43 1.66 -2.10 1.87 -0.53 -0.87 8.32

2017 -- Q1 3.51 3.61 3.41 5.27 5.80 3.90 2.58 -2.23 2.46 10.09

 Q2 4.91 3.95 2.80 4.73 6.90 5.70 5.15 -0.56 3.13 7.22

 Q3 4.11 2.67 2.74 4.29 5.56 3.65 5.03 -0.46 3.46 11.65

 Q4 4.04 5.20 3.18 6.67 5.40 3.33 2.00 3.07 0.20 16.26

2018 -- Q1 6.83 3.11 2.76 4.12 4.16 3.60 14.36 -2.78 1.34 10.23

 Q2 4.30 3.41 3.28 3.99 3.37 2.30 6.66 0.10 1.71 3.57

 Q3 3.96 3.13 3.27 4.32 5.01 4.85 4.44 0.28 2.06 5.56

 Q4 3.41 2.64 2.41 5.30 4.61 4.22 4.10 -2.65 3.02 0.83

2019 -- Q1 5.78 2.12 2.51 4.30 6.73 8.14 9.56 -2.29 1.97 -3.70

 Q2 3.51 4.20 3.21 4.88 4.25 4.37 3.15 -1.71 3.20 9.89

 Q3 5.82 3.20 3.24 4.42 5.85 6.30 8.86 0.82 2.65 7.33

 Q4 3.33 3.51 2.46 4.56 2.25 0.74 4.15 2.95 0.58 5.98

2020 -- Q1 11.67 3.60 3.56 0.63 18.86 24.04 14.09 0.90 27.50 -13.03

 Q2 26.77 -0.07 3.05 -5.58 15.25 15.44 62.50 3.48 -10.22 5.08

 Q3 4.12 5.57 5.56 1.79 0.07 -3.21 6.03 5.54 -1.14 1.95

 Q4 5.10 6.11 4.79 2.07 0.47 -0.17 8.42 1.56 6.28 12.36

2021 -- Q1 6.71 6.71 5.59 3.62 4.26 4.58 8.98 3.54 5.97 18.16

 Q2 6.45 7.91 7.98 8.64 1.41 1.12 9.58 3.15 6.18 3.45

1. Debt securities and loans. Data shown are on an end-of-period basis.
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6 Z.1, September 23, 2021

D.2 Borrowing by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest 

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

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

 FA384104005 FA154104005 FA153165105 FA153166000 FA144104005 FA104104005 FA314104005 FA214104005 FA794104005 FA264104005

1986 877.9 264.6 199.4 55.8 293.6 226.4 245.5 74.2 333.7 9.2

1987 737.8 250.8 221.6 32.3 222.3 164.3 174.2 90.4 263.1 10.6

1988 823.4 274.9 215.6 46.6 310.3 225.5 187.9 50.4 252.3 1.1

1989 733.3 290.9 224.9 47.0 214.1 165.3 180.9 47.4 224.1 -1.0

1990 690.7 231.3 200.0 15.1 132.1 132.0 280.2 47.1 211.3 17.9

1991 532.9 205.2 174.5 -8.8 -80.0 -54.2 316.6 91.2 181.5 10.1

1992 549.8 200.7 173.0 9.2 -11.1 15.2 343.8 16.5 231.8 16.9

1993 711.5 247.1 156.5 61.4 113.3 133.2 293.2 57.9 351.8 62.0

1994 678.3 324.0 166.8 135.0 206.4 191.0 193.5 -45.5 468.4 -14.5

1995 672.9 323.0 154.0 147.0 236.5 190.2 174.2 -60.8 467.4 75.3

1996 755.6 349.0 205.2 105.7 236.0 163.0 191.1 -20.5 574.6 85.5

1997 846.2 347.9 216.1 70.3 384.1 279.6 63.4 50.8 601.8 71.4

1998 1081.5 455.2 303.2 97.1 570.8 388.2 -11.4 66.8 1088.0 37.6

1999 1145.7 573.8 379.4 112.4 564.7 367.5 -30.1 37.3 1112.3 22.3

2000 873.9 590.0 383.5 176.5 542.0 346.1 -275.0 16.9 909.1 57.2

2001 1106.0 628.6 508.2 150.6 316.8 153.0 55.2 105.5 958.5 -10.5

2002 1357.0 777.5 706.2 105.2 152.9 -4.5 282.1 144.6 836.5 62.3

2003 1692.9 1070.8 874.1 105.9 80.9 6.1 420.7 120.5 1175.0 16.3

2004 2123.5 1132.4 929.4 117.2 406.4 152.4 402.8 181.8 1091.1 91.4

2005 2293.6 1175.9 1081.2 100.4 605.5 266.9 346.9 165.3 1139.4 98.9

2006 2443.3 1289.6 1000.3 120.1 818.0 403.7 219.1 116.5 1431.0 283.9

2007 2531.5 958.1 715.5 150.2 1130.5 664.5 270.4 172.5 2064.8 251.7

2008 1925.2 -5.1 79.1 34.3 585.3 260.1 1302.5 42.5 783.4 -203.6

2009 1285.8 60.8 92.7 -94.6 -421.6 -324.1 1505.8 140.8 -1771.0 227.0

2010 1575.2 -85.5 -156.3 -28.2 -74.6 -55.2 1645.9 89.3 -672.5 187.7

2011 1366.6 17.5 -58.7 109.4 242.4 309.5 1138.7 -32.0 -471.2 162.5

2012 1826.5 73.0 -107.0 158.7 581.3 403.9 1180.6 -8.3 -129.9 208.3

2013 1699.8 320.5 -11.8 177.6 529.3 420.1 857.3 -7.3 204.9 268.3

2014 1592.6 163.6 -4.8 219.1 771.5 485.8 735.9 -78.3 285.5 256.8

2015 1902.5 315.9 119.5 233.5 849.9 597.4 724.6 12.1 177.2 32.2

2016 1976.5 440.6 196.0 236.2 663.0 273.7 842.7 30.2 411.8 38.3

2017 1992.6 571.0 295.7 194.3 824.5 358.9 598.6 -1.5 349.3 399.7

2018 2330.8 470.6 294.2 172.7 641.5 348.1 1258.1 -39.4 313.3 197.7

2019 2439.5 513.9 294.2 185.1 752.6 479.5 1174.9 -1.9 330.2 206.7

2020 6730.9 619.8 451.2 -11.9 1440.2 929.4 4581.2 89.6 872.4 69.9

2016 -- Q1 2679.9 318.3 110.4 255.7 1095.3 718.2 1224.6 41.7 746.0 -120.8

 Q2 2171.2 493.6 207.0 223.7 569.6 177.3 1036.5 71.5 473.1 56.0

 Q3 2171.3 572.4 235.1 235.3 763.0 378.8 811.8 24.1 558.5 -61.5

 Q4 883.5 378.2 231.4 230.2 224.3 -179.4 297.7 -16.7 -130.3 279.8

2017 -- Q1 1659.2 527.4 329.0 191.6 787.8 330.3 413.8 -69.8 368.7 334.2

 Q2 2349.3 582.0 272.2 174.2 955.4 491.9 829.2 -17.3 471.2 249.1

 Q3 1987.0 396.4 268.3 160.1 783.4 319.3 821.4 -14.2 526.0 414.8

 Q4 1974.9 778.0 313.4 251.4 771.2 294.2 330.3 95.4 31.4 600.8

2018 -- Q1 3374.8 471.7 274.4 158.0 604.8 323.4 2385.4 -87.0 205.1 397.8

 Q2 2163.2 520.1 328.0 154.4 495.0 208.2 1144.9 3.2 262.0 141.5

 Q3 2026.1 480.9 329.5 168.8 759.5 457.9 777.0 8.7 317.7 218.8

 Q4 1758.8 409.6 244.6 209.6 706.7 402.9 725.1 -82.6 468.5 32.9

2019 -- Q1 3009.8 330.1 255.7 172.4 1043.3 785.3 1707.4 -71.0 308.2 -148.1

 Q2 1851.8 658.6 329.4 197.8 670.4 430.4 575.3 -52.5 501.4 401.3

 Q3 3098.8 506.4 335.4 181.2 933.1 627.3 1634.0 25.3 419.3 312.0

 Q4 1797.6 560.6 256.5 189.2 363.5 75.1 782.8 90.7 92.0 261.7

2020 -- Q1 6358.0 579.8 373.4 26.4 3067.6 2436.0 2682.6 28.0 4381.7 -585.3

 Q2 15013.5 -10.9 322.5 -234.6 2597.1 1658.4 12319.5 107.8 -1740.4 215.2

 Q3 2465.7 904.7 592.1 74.3 13.0 -358.2 1374.7 173.2 -189.8 87.3

 Q4 3086.2 1005.6 516.9 86.3 83.3 -18.8 1947.8 49.5 1038.0 562.6

2021 -- Q1 4109.7 1121.2 610.2 151.5 753.5 507.0 2122.3 112.7 1002.0 864.9

 Q2 4012.9 1343.9 883.6 364.7 253.1 124.8 2314.9 101.0 1053.3 166.4

(1) Debt securities and loans.
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Z.1, September 23, 2021 7 y

D.3 Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest

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

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

 LA384104005 LA154104005 LA153165105 LA153166000 LA144104005 LA104104005 LA314104005 LA214104005 LA794104005 LA264104005

1986 8216.7 2592.3 1649.0 666.4 2864.7 1864.5 2007.5 752.1 1683.4 300.2

1987 8958.2 2817.5 1828.6 698.6 3116.4 2051.5 2181.7 842.6 1958.9 310.4

1988 9777.6 3100.6 2054.8 745.2 3414.5 2265.2 2369.6 893.0 2211.2 351.9

1989 10527.9 3384.0 2260.1 809.3 3653.1 2455.2 2550.5 940.4 2463.8 354.8

1990 11245.9 3644.4 2489.3 824.4 3783.3 2585.4 2830.8 987.4 2678.3 368.7

1991 11775.5 3853.2 2667.4 815.6 3696.4 2526.6 3147.4 1078.6 2859.8 375.5

1992 12328.5 4053.9 2840.4 824.8 3688.4 2545.0 3491.1 1095.1 3107.2 395.5

1993 13054.8 4303.3 2999.2 886.2 3814.1 2690.7 3784.3 1153.0 3464.3 484.8

1994 13739.4 4627.3 3165.9 1021.2 4026.9 2888.0 3977.8 1107.5 3940.8 473.4

1995 14428.1 4950.2 3319.9 1168.2 4279.2 3094.0 4152.0 1046.7 4411.1 602.5

1996 15185.3 5313.3 3538.1 1273.9 4502.8 3244.6 4343.1 1026.2 4985.7 689.1

1997 16029.5 5661.2 3754.2 1344.2 4884.8 3522.1 4406.5 1076.9 5567.4 763.6

1998 17110.9 6116.4 4057.4 1441.3 5455.6 3910.2 4395.1 1143.8 6655.4 806.0

1999 18288.7 6687.9 4434.5 1553.6 6054.8 4312.1 4365.0 1181.0 7765.4 776.7

2000 19172.5 7287.8 4816.8 1741.3 6596.8 4658.2 4090.0 1197.9 8675.5 837.1

2001 20261.6 7916.4 5324.9 1891.8 6896.6 4794.2 4145.2 1303.4 9689.9 829.5

2002 21618.6 8693.8 6031.1 1997.0 7049.5 4789.7 4427.3 1447.9 10526.4 944.5

2003 23343.8 9782.8 6914.9 2102.9 7144.5 4809.9 4848.0 1568.4 11536.7 1144.4

2004 26251.1 10940.5 7859.1 2220.1 7574.9 4986.4 5250.9 2484.8 12642.7 1265.4

2005 28531.7 12116.4 8940.4 2320.6 8180.4 5253.3 5584.8 2650.1 13727.6 1325.7

2006 30992.6 13421.5 9940.3 2456.7 9000.5 5658.1 5803.9 2766.7 15126.4 1630.2

2007 33500.8 14351.4 10625.0 2609.5 10136.0 6329.1 6074.3 2939.2 17301.8 1959.7

2008 35287.5 14219.4 10577.3 2643.8 10709.6 6584.2 7376.8 2981.7 18004.4 1562.1

2009 36254.6 14057.4 10441.3 2555.0 10192.0 6175.8 8882.6 3122.5 16098.6 1968.9

2010 37671.3 13865.9 9992.3 2646.8 10059.0 6072.3 10528.6 3217.8 15067.5 2247.7

2011 38882.5 13735.3 9785.5 2756.2 10294.2 6381.8 11667.3 3185.8 14517.4 2469.8

2012 40530.4 13667.7 9537.1 2912.9 10837.3 6752.1 12847.8 3177.5 14250.9 2827.9

2013 42125.8 13900.0 9437.0 3090.5 11350.4 7160.7 13705.1 3170.2 14399.9 2973.5

2014 43671.0 14018.7 9387.3 3309.5 12119.4 7647.0 14441.1 3091.9 14665.9 3284.8

2015 45389.9 14191.1 9492.8 3400.2 12929.1 8209.1 15165.6 3104.0 14612.6 3231.4

2016 47329.9 14601.8 9658.8 3636.4 13585.7 8478.2 16008.3 3134.1 15001.6 3311.7

2017 49432.9 15147.0 9928.8 3830.8 14546.4 8974.9 16606.9 3132.7 15314.5 3887.7

2018 52074.0 15602.6 10204.4 4007.0 15513.1 9649.5 17865.0 3093.2 15612.5 4002.2

2019 54498.5 16100.7 10482.8 4192.2 16266.6 10130.9 19039.9 3091.3 15932.0 4490.7

2020 61225.3 16717.0 10925.7 4185.0 17706.3 11060.3 23621.1 3181.0 16798.2 4763.7

2016 -- Q1 46050.3 14261.7 9511.4 3464.1 13202.4 8388.6 15471.8 3114.4 14793.4 3294.3

 Q2 46585.0 14377.4 9555.5 3520.1 13344.3 8433.0 15730.9 3132.3 14904.2 3359.8

 Q3 47119.8 14513.1 9606.8 3578.9 13534.6 8527.7 15933.9 3138.3 15038.4 3362.1

 Q4 47329.9 14601.8 9658.8 3636.4 13585.7 8478.2 16008.3 3134.1 15001.6 3311.7

2017 -- Q1 47802.4 14727.0 9734.4 3684.3 13847.1 8625.6 16111.7 3116.7 15068.3 3450.3

 Q2 48381.8 14864.9 9794.9 3727.9 14085.5 8748.6 16319.0 3112.4 15182.1 3559.9

 Q3 48872.0 14958.0 9855.9 3767.9 14280.9 8828.4 16524.4 3108.8 15309.8 3693.6

 Q4 49432.9 15147.0 9928.8 3830.8 14546.4 8974.9 16606.9 3132.7 15314.5 3887.7

2018 -- Q1 50272.8 15261.3 9993.8 3870.3 14697.3 9055.8 17203.3 3110.9 15363.7 3965.0

 Q2 51130.9 15382.4 10070.9 3904.9 15147.2 9434.3 17489.5 3111.7 15422.2 3933.6

 Q3 51639.2 15504.8 10147.8 3954.6 15336.7 9548.8 17683.7 3113.9 15498.4 3981.1

 Q4 52074.0 15602.6 10204.4 4007.0 15513.1 9649.5 17865.0 3093.2 15612.5 4002.2

2019 -- Q1 52822.9 15680.0 10263.1 4050.1 15775.5 9847.7 18291.9 3075.5 15683.1 4058.9

 Q2 53281.8 15840.8 10341.7 4099.6 15942.9 9955.3 18435.7 3062.4 15809.0 4253.5

 Q3 54052.8 15964.0 10422.1 4144.9 16175.9 10112.1 18844.2 3068.7 15911.5 4373.8

 Q4 54498.5 16100.7 10482.8 4192.2 16266.6 10130.9 19039.9 3091.3 15932.0 4490.7

2020 -- Q1 56089.8 16247.6 10573.4 4203.5 17033.3 10739.9 19710.5 3098.3 17025.2 4239.3

 Q2 59841.2 16243.0 10652.1 4144.9 17682.5 11154.5 22790.4 3125.3 16588.6 4468.2

 Q3 60455.3 16467.1 10798.0 4163.4 17685.6 11065.0 23134.1 3168.6 16539.7 4552.7

 Q4 61225.3 16717.0 10925.7 4185.0 17706.3 11060.3 23621.1 3181.0 16798.2 4763.7

2021 -- Q1 62251.5 16996.1 11077.1 4222.9 17894.6 11187.0 24151.6 3209.2 17048.1 4829.4

 Q2 63253.7 17331.2 11297.1 4314.1 17957.8 11218.2 24730.4 3234.4 17311.0 4932.3

(1) Debt securities and loans. Data are shown on an end-of-period basis.
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8 Z.1, September 23, 2021

B.1 Derivation of U.S. Net Wealth

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL892090005 U.S. net wealth (1) 94566.2 105202.3 115710.7 95520.0 102947.6 107354.0 115710.7 121977.7 127942.9 1

 2 LM152010005 Households’ direct holdings of nonfinancial assets 37932.8 39951.3 43375.3 40650.4 41330.4 42239.0 43375.3 44547.8 46192.5 2

 3 LM155035005 Real estate 31794.7 33567.4 36602.5 34226.6 34895.6 35578.7 36602.5 37578.2 38796.2 3

 4 LM165015205 Equipment (nonprofits) 438.5 459.3 485.6 468.4 474.0 479.6 485.6 495.5 498.6 4

 5 LM165013765 Intellectual property products (nonprofits) 186.8 194.2 206.1 196.7 200.2 202.9 206.1 207.1 209.6 5

 6 LM155111005 Consumer durable goods 5512.7 5730.5 6081.0 5758.7 5760.7 5977.8 6081.0 6267.1 6688.2 6

 7 LM112010005 Nonfin. noncorporate businesses nonfinancial assets 13818.8 14641.9 15538.8 14741.0 14900.9 15136.1 15538.8 15844.9 16371.0 7

 8 LM115035005 Real estate 12416.7 13202.9 14067.5 13302.3 13461.5 13682.5 14067.5 14328.8 14824.7 8

 9 LM115015205 Equipment 863.9 885.9 909.9 895.3 900.0 905.4 909.9 942.7 964.6 9

 10 LM115013765 Intellectual property products 277.1 295.0 316.6 299.0 305.7 309.6 316.6 316.8 318.1 10

 11 LM115020005 Inventories 261.1 258.2 244.7 244.3 233.6 238.6 244.7 256.7 263.6 11

 12 LM662090003 Fin. noncorporate businesses nonfinancial assets (2) 78.2 83.5 90.3 84.8 88.5 87.1 90.3 93.8 98.0 12

 13 LM882010405 Domestic corporations’ nonfinancial assets 36931.7 45671.9 54016.9 35778.4 43368.8 47154.1 54016.9 58774.0 63387.7 13

 14 LM102010405 Nonfinancial corporations’ nonfinancial assets (3) 33616.1 41670.9 50703.5 33923.9 41227.0 44950.8 50703.5 53973.8 58039.7 14

 15 LM792010405 Financial corporations’ nonfinancial assets (3) 3315.5 4000.9 3313.4 1854.6 2141.8 2203.2 3313.4 4800.2 5348.0 15

 16 LM315015005 Federal government nonfinancial assets (4) 3521.3 3603.7 3734.0 3629.3 3652.7 3694.0 3734.0 3784.9 3857.9 16

 17 LM315015605 Structures 1642.8 1674.0 1706.8 1681.1 1678.3 1696.0 1706.8 1736.7 1782.1 17

 18 LM315013265 Equipment 787.6 812.7 851.3 820.3 828.5 838.7 851.3 860.0 873.6 18

 19 LM315013765 Intellectual property products 1090.9 1117.1 1175.9 1127.9 1146.0 1159.3 1175.9 1188.2 1202.2 19

 20 LM212010095 State and local governments nonfinancial assets (4) 11569.6 12005.7 12412.8 12113.1 12113.4 12304.2 12412.8 12669.1 13013.6 20

 21 LM215015605 Structures 11164.9 11591.1 11980.6 11696.1 11690.9 11876.7 11980.6 12232.1 12569.1 21

 22 LM215013265 Equipment 262.6 267.1 275.0 268.0 270.8 273.5 275.0 277.7 282.4 22

 23 LM215013765 Intellectual property products 142.1 147.5 157.2 148.9 151.8 153.9 157.2 159.3 162.1 23

 24 FL882090265 Net U.S. financial claims on the rest of the world -9286.1 -10755.7 -13457.3 -11477.0 -12507.2 -13260.5 -13457.3 -13736.7 -14977.7 24

 25 FL264194005 U.S. financial claims on the rest of the world 20694.4 24165.7 26385.8 20741.8 22837.7 23689.9 26385.8 27313.4 28614.5 25

 26 LM263164100 U.S. holdings of foreign corporate equities 7899.6 9478.0 10535.9 7442.6 8574.9 9142.7 10535.9 11003.1 11687.7 26

 27 FL264194035 Other U.S. financial claims 12794.9 14687.7 15849.9 13299.1 14262.8 14547.2 15849.9 16310.4 16926.8 27

 28 FL264090005 Less: Foreign financial claims on U.S. 29980.5 34921.4 39843.0 32218.7 35344.9 36950.5 39843.0 41050.1 43592.2 28

 29 LM263064105 Foreign holdings of U.S. corporate equities 6629.5 8199.2 10449.2 6733.2 8131.4 8966.6 10449.2 11160.9 12169.9 29

 30 FL264090035 Other foreign financial claims 23351.0 26722.2 29393.8 25485.6 27213.5 27983.8 29393.8 29889.2 31422.4 30

 Memo:

 31 FL892090005 A. U.S. net wealth (line 1) 94566.2 105202.3 115710.7 95520.0 102947.6 107354.0 115710.7 121977.7 127942.9 31

 32 FC892090005 Change in U.S. net wealth -1361.4 10636.0 10508.5 -9682.3 7427.6 4406.4 8356.8 6267.0 5965.2 32

 33 PC892090005 Percent change in U.S. net wealth -1.42 11.25 9.99 -9.20 7.78 4.28 7.78 5.42 4.89 33

 34 FL152090005 B. Household net worth (5) 104345.0 116831.7 130687.6 110573.1 118491.4 122748.6 130687.6 135818.2 141667.5 34

 35 FC152090005 Change in household net worth 871.6 12486.6 13855.9 -6258.6 7918.3 4257.2 7938.9 5130.6 5849.4 35

 36 PC152090005 Percent change in household net worth 0.84 11.97 11.86 -5.36 7.16 3.59 6.47 3.93 4.31 36

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

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

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

(3) Estimated as the market value of corporate equity, plus foreign direct investment (equity), plus total liabilities, less total financial assets.

(4) Excludes land and nonproduced nonfinancial assets.

(5) Household net worth is calculated as the difference between total assets and liabilities of the household and nonprofit organizations sector. See table B.101.
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Z.1, September 23, 2021 9

F.2 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA086902005 Gross domestic product (GDP) 20527.2 21372.6 20893.7 21481.4 19477.4 21138.6 21477.6 22038.2 22731.4 1

 2 FA156901001 Personal consumption expenditures (2) 13913.5 14428.7 14047.6 14439.1 12989.7 14293.8 14467.6 15005.4 15675.9 2

 3 FA155011001 Durable goods 1469.2 1513.3 1616.4 1484.9 1468.3 1753.3 1759.2 1957.8 2090.7 3

 4 FA156901035 Nondurable goods 2884.5 2965.6 3037.4 3046.0 2881.7 3113.9 3108.1 3287.2 3436.7 4

 5 FA156901041 Services 9559.8 9949.8 9393.7 9908.2 8639.8 9426.6 9600.4 9760.4 10148.5 5

 6 FA835019905 Gross private domestic investment 3637.8 3826.3 3637.8 3752.4 3167.0 3708.8 3923.2 3928.0 3924.2 6

 7 FA835019005 Fixed investment (3) 3579.1 3752.6 3697.4 3773.0 3456.9 3693.8 3865.9 4022.2 4100.2 7

 8 FA835013001 Nonresidential 2780.6 2938.7 2799.6 2900.1 2659.1 2776.6 2862.7 2956.7 3029.5 8

 9 FA165013005 Nonprofit organizations (4) 204.1 213.7 217.1 217.2 186.6 232.7 232.0 236.6 238.5 9

 10 FA105013005 Nonfinancial corporate business 2005.2 2108.0 1993.5 2067.7 1897.4 1975.9 2032.8 2097.2 2148.8 10

 11 FA115013005 Nonfinancial noncorporate business 291.4 305.7 294.5 310.1 309.8 269.5 288.5 305.1 319.3 11

 12 FA795013005 Financial institutions 279.8 311.4 294.6 305.1 265.2 298.5 309.4 317.8 322.8 12

 13 FA835012001 Residential 798.5 813.9 897.8 872.9 797.8 917.2 1003.2 1065.5 1070.8 13

 14 FA155012005 Household sector 663.6 673.4 738.5 719.0 652.8 752.9 829.3 867.3 856.6 14

 15 FA105012005 Nonfinancial corporate business 6.6 3.5 15.9 10.8 20.8 17.6 14.2 32.1 40.0 15

 16 FA115012005 Nonfinancial noncorporate business 124.8 130.0 140.5 137.1 124.9 144.0 155.9 164.2 163.0 16

 17 FA125012063 REITs 3.5 7.1 3.0 5.9 -0.7 2.8 3.8 1.9 11.2 17

 18 FA145020005 Change in private inventories 58.7 73.6 -59.6 -20.6 -289.9 15.0 57.3 -94.2 -176.1 18

 19 FA105020005 Nonfinancial corporate business 55.0 73.3 -48.3 -11.3 -248.6 15.3 51.3 -80.2 -151.8 19

 20 FA115020005 Nonfinancial noncorporate business 3.7 0.3 -11.2 -9.3 -41.4 -0.3 6.0 -14.1 -24.3 20

 21 FA266903005 Net U.S. exports of goods and services -596.2 -596.3 -651.2 -541.7 -538.9 -725.7 -798.4 -872.5 -884.7 21

 22 FA266903011 Exports 2533.5 2519.7 2123.4 2385.5 1807.9 2079.6 2220.7 2311.9 2455.6 22

 23 FA266903001 - Imports 3129.7 3116.0 2774.6 2927.3 2346.7 2805.3 3019.1 3184.5 3340.3 23

 Government consumption expenditures and

 24 FA366902005 gross investment 3572.0 3713.9 3859.5 3831.6 3859.6 3861.7 3885.3 3977.3 4016.0 24

 25 FA366901005 Consumption expenditures (5) 2869.4 2973.9 3078.0 3058.9 3084.9 3079.4 3088.7 3186.5 3223.3 25

 26 FA316901001 Federal 1039.4 1097.4 1161.4 1124.7 1187.6 1169.4 1164.1 1219.9 1208.0 26

 27 FA216901001 State and local 1830.0 1876.5 1916.5 1934.3 1897.3 1909.9 1924.7 1966.5 2015.3 27

 28 FA365019005 Gross investment (5) 702.6 740.0 781.6 772.7 774.7 782.3 796.5 790.8 792.7 28

 29 FA315019001 Federal 299.6 317.5 340.3 330.0 337.4 345.7 348.2 348.7 355.3 29

 30 FA215019001 State and local 403.0 422.5 441.2 442.7 437.3 436.6 448.3 442.2 437.4 30

 Memo:

 31 FA266904005 Net U.S. income receipts from rest of world 294.2 266.4 222.3 239.9 172.0 226.8 250.6 234.8 245.4 31

 32 FA266904001 U.S. income receipts 1142.1 1160.3 992.9 1048.9 883.5 996.1 1043.2 1081.6 1110.8 32

 33 FA266904101 - U.S. income payments 847.9 893.9 770.6 809.0 711.5 769.2 792.5 846.7 865.4 33

 Gross national product (GNP) =

 34 FA086902105 GDP + net U.S. income receipts 20821.3 21639.0 21116.1 21721.3 19649.4 21365.4 21728.2 22273.1 22976.8 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 FA155420003 Household sector -13.5 -14.0 -14.4 -14.1 -14.3 -14.4 -14.7 -14.8 -15.0 35

 36 FA105420005 Nonfinancial corporate business -1.7 -0.1 -0.2 -2.2 -2.7 6.8 -2.7 15.4 -2.9 36

 37 FA315420003 Federal government -0.8 -2.6 -2.9 -0.3 -0.1 -11.1 -0.2 -18.3 -0.3 37

 38 FA215420003 State and local governments 16.1 16.8 17.3 17.0 17.2 17.4 17.7 17.9 18.2 38

 39 FA265420005 Rest of the world -0.1 -0.1 0.2 -0.4 -0.1 1.3 -0.1 -0.2 0.0 39

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

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

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

(4) Included in the households and nonprofit organizations sector (table F.101).

(5) Government inventory investment is included in consumption expenditures.
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10 Z.1, September 23, 2021

F.3 Distribution of National Income (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA086010005 National income 17673.3 18273.1 17710.7 18473.4 16241.3 17544.3 18583.8 19086.8 19439.8 1

 2 FA156025105 Compensation of employees 10959.5 11447.7 11572.2 11755.5 11029.2 11539.7 11964.2 12088.9 12301.2 2

 3 FA156020101 Wages and salaries 8900.5 9323.5 9444.1 9604.1 8979.0 9410.3 9783.0 9879.2 10072.1 3

 4 FA156401101 Supplements to wages and salaries 2059.0 2124.2 2128.0 2151.4 2050.2 2129.4 2181.1 2209.7 2229.2 4

 5 FA146111105 Proprietors’ income with IVA and CCAdj 1580.4 1598.9 1650.0 1638.3 1471.1 1760.7 1730.0 1714.0 1838.2 5

 6 FA116112101 Rental income of persons with CCAdj 681.9 692.1 711.6 712.2 709.5 714.5 710.0 716.9 716.8 6

 7 FA096060035 Corporate profits with IVA and CCAdj 2305.0 2367.8 2243.8 2169.5 1942.6 2435.4 2427.5 2551.4 2785.9 7

 8 FA096060025 Corporate profits with IVA 2211.3 2254.6 2165.9 2081.9 1864.0 2360.5 2357.2 2461.8 2714.1 8

 9 FA096060005 Profits before tax 2259.0 2254.6 2184.1 1988.8 1818.9 2448.4 2480.1 2711.3 3036.2 9

 10 FA106060005 Domestic nonfinancial 1287.0 1208.0 1226.8 1023.7 910.0 1491.5 1482.1 1725.1 1980.9 10

 11 FA796060005 Domestic financial 450.3 533.2 502.5 486.0 500.6 502.4 521.0 519.9 577.8 11

 12 FA266060005 Rest of the world 521.7 513.4 454.7 479.1 408.3 454.5 477.0 466.4 477.4 12

 Less:

 13 FA096231001 Taxes on corporate income 281.5 302.2 275.6 245.4 241.2 300.3 315.6 343.7 364.9 13

 14 FA106231005 Domestic nonfinancial 200.5 203.6 189.6 162.8 158.7 214.1 222.7 244.8 272.4 14

 15 FA796231003 Domestic financial 81.0 98.6 86.0 82.7 82.4 86.2 92.9 98.9 92.5 15

 Equals:

 16 FA096060015 Profits after tax 1977.5 1952.4 1908.4 1743.4 1577.7 2148.2 2164.5 2367.6 2671.2 16

 17 FA096121073 Net dividends 1338.4 1386.4 1394.9 1417.7 1395.7 1368.6 1397.5 1359.7 1410.5 17

 18 FA106121075 Domestic nonfinancial 226.0 695.7 796.2 756.5 789.5 766.3 872.5 759.1 863.0 18

 19 FA796121073 Domestic financial 211.4 224.3 289.9 206.6 313.7 340.8 298.6 248.5 282.2 19

 20 FA266121073 Rest of the world 901.0 466.4 308.7 454.6 292.5 261.5 226.4 352.1 265.3 20

 21 FA096006401 Undistributed profits 639.1 566.0 513.6 325.7 182.1 779.5 767.0 1007.9 1260.8 21

 22 FA106006405 Domestic nonfinancial 860.5 308.7 241.1 104.5 -38.2 511.1 386.8 721.2 845.5 22

 23 FA796006403 Domestic financial 157.9 210.2 126.5 196.8 104.5 75.5 129.4 172.4 203.1 23

 24 FA266006403 Rest of the world -379.3 47.1 146.0 24.4 115.9 193.0 250.7 114.3 212.1 24

 25 FA105020601 Inventory valuation adjustment (IVA) -47.7 -0.0 -18.2 93.0 45.1 -88.0 -122.9 -249.5 -322.1 25

 26 FA096310003 Capital consumption adjustment (CCAdj) 93.6 113.2 77.9 87.6 78.6 74.9 70.4 89.6 71.8 26

 27 FA106310005 Domestic nonfinancial 94.4 139.5 113.4 121.6 113.6 110.7 107.6 124.4 110.9 27

 28 FA796310003 Domestic financial -0.7 -26.3 -35.5 -34.0 -35.0 -35.7 -37.3 -34.8 -39.1 28

 29 FA086130003 Net interest and miscellaneous payments 598.7 558.2 618.8 566.9 619.3 623.0 666.1 695.2 699.0 29

 30 FA366240005 Taxes on production and imports 1461.7 1532.3 1534.7 1577.1 1460.5 1544.0 1557.0 1580.1 1640.2 30

 31 FA366402005 Less: Subsidies 63.3 73.0 761.4 80.9 1124.3 1221.2 619.2 406.3 692.2 31

 32 FA146403005 Business current transfer payments (net) 158.0 162.3 158.6 149.4 152.8 165.8 166.3 165.8 166.0 32

 33 FA156403101 To persons (net) 50.2 56.0 59.9 58.0 63.3 58.9 59.2 62.0 71.2 33

 34 FA366403145 To government (net) 103.8 95.7 97.8 93.3 95.1 99.7 103.2 98.4 94.4 34

 35 FA266403101 To rest of the world (net) 4.1 10.6 0.9 -1.9 -5.6 7.2 3.9 5.4 0.4 35

 36 FA366402105 Current surplus of government enterprises -8.6 -13.3 -17.5 -14.6 -19.5 -17.7 -18.1 -19.3 -15.3 36

 Memo:

 Calculation of gross domestic product

 from National income:

 37 FA086010005 National Income, from line 1 above 17673.3 18273.1 17710.7 18473.4 16241.3 17544.3 18583.8 19086.8 19439.8 37

 Plus:

 38 FA836300005 Private consumption of fixed capital 2708.1 2848.6 2969.6 2924.5 2949.0 2981.5 3023.3 3071.2 3149.0 38

 39 FA366300005 Government consumption of fixed capital 565.4 586.9 606.4 597.8 601.9 609.6 616.1 624.7 637.5 39

 40 FA087005005 Statistical discrepancy -125.5 -69.7 -170.6 -274.5 -142.8 230.0 -495.0 -509.7 -249.5 40

 Less:

 41 FA266904005 Net U.S. income receipts from rest of world 294.2 266.4 222.3 239.9 172.0 226.8 250.6 234.8 245.4 41

 Equals:

 42 FA086902005 Gross domestic product (2) 20527.2 21372.6 20893.7 21481.4 19477.4 21138.6 21477.6 22038.2 22731.4 42

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

(2) The relationship of National income (line 37) to Gross domestic product (line 42) is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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Z.1, September 23, 2021 11

F.4 Saving and Investment by Sector (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA886000115 Gross saving 4025.6 4156.1 4002.9 4347.5 3556.7 3596.3 4511.0 4423.0 4172.8 1

 2 FA896006005 Net saving 752.1 720.5 426.9 825.2 5.8 5.2 871.6 727.0 386.3 2

 3 FA836006005 Net private saving 1876.0 1917.0 3460.8 2117.7 5077.8 3587.9 3059.8 4827.7 2864.5 3

 4 FA826006005 Domestic business 685.0 679.2 573.3 506.3 305.8 766.5 714.4 848.0 1010.5 4

 5 FA106012005 Nonfinancial corporate business 584.8 487.5 457.8 451.3 375.0 517.4 487.7 525.3 571.2 5

 6 FA796012005 Financial business 100.2 191.7 115.4 55.0 -69.2 249.2 226.7 322.8 439.2 6

 7 FA156006005 Households and institutions 1190.9 1237.8 2887.5 1611.4 4772.0 2821.3 2345.5 3979.7 1854.0 7

 8 FA366006005 Net government saving -1123.8 -1196.5 -3033.9 -1292.5 -5072.0 -3582.6 -2188.3 -4100.6 -2478.2 8

 9 FA316006005 Federal -928.1 -1047.5 -3110.0 -1158.0 -5625.6 -3516.3 -2140.1 -4088.9 -3341.4 9

 10 FA216006005 State and local -195.8 -149.0 76.1 -134.6 553.6 -66.3 -48.2 -11.8 863.2 10

 11 FA886300095 Consumption of fixed capital 3273.4 3435.6 3575.9 3522.3 3550.9 3591.0 3639.4 3696.0 3786.5 11

 12 FA836300005 Private 2708.1 2848.6 2969.6 2924.5 2949.0 2981.5 3023.3 3071.2 3149.0 12

 13 FA826300003 Domestic business 2133.3 2248.3 2338.6 2308.7 2327.5 2345.3 2372.9 2401.1 2455.2 13

 14 FA106300003 Nonfinancial corporate business 1561.2 1644.8 1707.6 1688.0 1701.2 1711.6 1729.6 1748.4 1783.4 14

 15 FA116300001 Nonfinancial noncorporate business 337.4 351.7 364.1 359.0 361.4 365.5 370.6 377.4 387.8 15

 16 FA796300081 Financial business 234.6 251.8 266.8 261.6 265.0 268.1 272.7 275.3 284.0 16

 17 FA156300003 Households and institutions 574.8 600.3 631.0 615.9 621.5 636.2 650.4 670.1 693.8 17

 18 FA366300005 Government 565.4 586.9 606.4 597.8 601.9 609.6 616.1 624.7 637.5 18

 19 FA316300001 Federal 284.9 293.3 303.5 298.2 301.6 305.1 309.2 312.7 317.0 19

 20 FA216300001 State and local 280.5 293.7 302.8 299.6 300.3 304.5 306.9 312.0 320.5 20

 Gross domestic investment, capital account

 21 FA885090015 transactions, and net lending, NIPAs 3900.1 4086.4 3832.3 4073.0 3413.9 3826.3 4016.0 3913.3 3923.3 21

 22 FA885019905 Gross domestic investment 4340.4 4566.3 4419.4 4525.1 3941.7 4491.1 4719.7 4718.8 4716.9 22

 23 FA835019905 Gross private domestic investment 3637.8 3826.3 3637.8 3752.4 3167.0 3708.8 3923.2 3928.0 3924.2 23

 24 FA825019905 Domestic business 2770.1 2939.2 2682.2 2816.1 2327.5 2723.2 2861.9 2824.1 2829.0 24

 25 FA105019985 Nonfinancial corporate business 2070.4 2191.8 1964.0 2079.5 1702.0 1986.0 2088.3 2047.2 2051.2 25

 26 FA115050085 Nonfinancial noncorporate business 419.9 436.0 423.7 431.5 360.4 438.7 464.2 459.0 455.0 26

 27 FA795013005 Financial business 279.8 311.4 294.6 305.1 265.2 298.5 309.4 317.8 322.8 27

 28 FA155019005 Households and institutions 867.7 887.1 955.6 936.2 839.4 985.6 1061.3 1103.9 1095.1 28

 29 FA365019005 Gross government investment 702.6 740.0 781.6 772.7 774.7 782.3 796.5 790.8 792.7 29

 30 FA315019001 Federal 299.6 317.5 340.3 330.0 337.4 345.7 348.2 348.7 355.3 30

 31 FA215019001 State and local 403.0 422.5 441.2 442.7 437.3 436.6 448.3 442.2 437.4 31

 32 FA265430003 Capital account transactions (net) (2) 4.7 6.9 5.9 11.9 4.2 2.7 4.9 14.6 3.7 32

 33 FA835430005 Private 2.0 -11.2 1.6 -1.1 -0.6 8.4 -0.6 -181.0 0.9 33

 34 FA825430005 Domestic business 5.9 -12.5 13.4 -3.2 54.3 6.0 -3.4 14.8 -3.4 34

 35 FA105430005 Nonfinancial corporate business -7.9 -12.5 13.4 -3.2 54.3 6.0 -3.4 14.8 -3.4 35

 36 FA115440005 Nonfinancial noncorporate business -3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FA795440005 Financial business 16.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 FA155430005 Households and institutions -3.9 1.4 -11.9 2.1 -54.9 2.5 2.9 -195.7 4.4 38

 39 FA365430005 Government 2.7 18.0 4.4 13.0 4.8 -5.8 5.5 195.6 2.8 39

 40 FA315430005 Federal 58.8 75.2 69.7 74.4 72.6 61.3 70.6 258.9 67.5 40

 41 FA215430005 State and local -56.1 -57.1 -65.3 -61.4 -67.8 -67.1 -65.1 -63.3 -64.7 41

 42 FA885000905 Net lending (+) or net borrowing (-), NIPAs (3) -445.0 -486.7 -593.0 -463.9 -532.0 -667.4 -708.7 -820.1 -797.3 42

 43 FA835000905 Private 818.8 880.9 2620.4 1016.4 4717.6 3082.1 1665.6 3642.3 1838.8 43

 44 FA825000905 Domestic business -83.2 -68.8 45.7 -272.5 108.7 612.6 -266.2 -99.4 390.5 44

 45 FA105000995 Nonfinancial corporate business (3) -41.9 -116.5 17.5 -211.5 177.0 467.0 -362.5 -298.0 57.3 45

 46 FA115000905 Nonfinancial noncorporate business -79.5 -84.3 -59.5 -72.5 1.0 -73.1 -93.6 -81.6 -67.3 46

 47 FA795000905 Financial business 38.2 132.0 87.7 11.5 -69.4 218.8 189.9 280.2 400.5 47

 48 FA155000905 Households and institutions 902.0 949.7 2574.7 1288.9 4608.9 2469.5 1931.8 3741.6 1448.3 48

 49 FA365000905 Government -1263.7 -1367.6 -3213.4 -1480.4 -5249.6 -3749.5 -2374.2 -4462.4 -2636.2 49

 50 FA315000905 Federal -1001.5 -1146.9 -3216.5 -1264.1 -5733.9 -3618.2 -2249.7 -4383.7 -3447.2 50

 51 FA215000905 State and local -262.2 -220.7 3.1 -216.2 484.4 -131.3 -124.5 -78.7 811.0 51

 52 FA087005005 Statistical discrepancy (line 21 less line 1) -125.5 -69.7 -170.6 -274.5 -142.8 230.0 -495.0 -509.7 -249.5 52

 Addenda:

 53 FA895404005 Disaster losses 51.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

 54 FA835404005 Private 51.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 FA825404003 Domestic business 21.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

 56 FA155404003 Households and institutions 29.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

 57 FA365404005 Government 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

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

 59 FA215404003 State and local 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA895410005 Capital transfers paid, by sector 131.2 115.7 131.1 116.0 175.1 117.5 115.8 324.3 116.1 1

 2 FA825410005 By private business 17.5 0.0 14.5 0.0 58.0 0.0 0.0 0.0 0.0 2

 3 FA795410005 Financial corporations 17.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FA515410073 Disaster-related insurance benefits 17.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

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

 6 FA105410003 Nonfinancial corporations 0.0 0.0 14.5 0.0 58.0 0.0 0.0 0.0 0.0 6

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

 8 FA365410005 By government 82.2 93.9 91.8 92.5 92.0 92.1 90.4 297.7 88.8 8

 9 FA315410005 Federal 82.2 93.9 91.8 92.5 92.0 92.1 90.4 297.7 88.8 9

 10 FA215400033 Investment grants to state and local govts. 65.8 68.3 76.0 72.8 75.3 78.8 77.0 75.0 76.7 10

 11 FA315410073 Disaster-related insurance benefits 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

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

 13 FA315410043 Other capital transfers paid to business 1.2 12.4 0.9 0.9 1.0 0.8 0.7 0.6 0.5 13

 14 FA315410053 Other capital transfers paid to persons 6.8 6.3 8.8 7.3 11.7 8.5 7.9 207.6 7.9 14

 15 FA315410063 Capital transfers paid to rest of world (net) 7.8 6.8 6.1 11.5 4.1 4.0 4.8 14.4 3.7 15

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

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

 18 FA155410035 By persons 28.3 21.7 24.8 23.5 25.1 25.4 25.4 26.6 27.3 18

 19 FA315400053 Estate and gift taxes, federal 22.7 16.2 19.1 17.8 19.3 19.7 19.6 20.5 21.0 19

 20 FA215400053 Estate and gift taxes, state and local 5.6 5.6 5.7 5.7 5.7 5.7 5.8 6.2 6.2 20

 21 FA265410005 By the rest of the world 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA265410073 Disaster-related insurance benefits 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

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

 24 FA895400005 Capital transfers received, by sector 131.2 115.7 131.1 116.0 175.1 117.5 115.8 324.3 116.1 24

 25 FA825400005 By private business 9.8 12.4 0.9 0.9 1.0 0.8 0.7 0.6 0.5 25

 26 FA795400005 Financial corporations 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA515400073 Disaster-related insurance benefits 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

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

 29 FA105400005 Nonfinancial corporations 6.2 12.4 0.9 0.9 1.0 0.8 0.7 0.6 0.5 29

 30 FA105400073 Disaster-related insurance benefits 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA105400003 Other 1.2 12.4 0.9 0.9 1.0 0.8 0.7 0.6 0.5 31

 32 FA115400005 Noncorporate business 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 FA115400075 Disaster-related insurance benefits 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

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

 35 FA365400005 By government 94.9 90.1 101.8 96.3 104.3 104.2 102.4 101.7 104.0 35

 36 FA315400005 Federal 22.7 16.2 19.1 17.8 19.3 19.7 19.6 20.5 21.0 36

 37 FA315400053 Estate and gift taxes paid by persons 22.7 16.2 19.1 17.8 19.3 19.7 19.6 20.5 21.0 37

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

 39 FA215400005 State and local 72.2 73.9 82.7 78.4 85.0 84.5 82.8 81.2 83.0 39

 40 FA215400073 Disaster-related insurance benefits 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 FA215400053 Estate and gift taxes paid by persons 5.6 5.6 5.7 5.7 5.7 5.7 5.8 6.2 6.2 41

 42 FA215400033 Investment grants paid by federal government 65.8 68.3 76.0 72.8 75.3 78.8 77.0 75.0 76.7 42

 43 FA215400003 Other 0.0 0.0 1.0 0.0 4.0 0.0 0.0 0.0 0.0 43

 44 FA155400005 By persons 18.7 6.3 22.3 7.3 65.7 8.5 7.9 207.6 7.9 44

 45 FA155400073 Disaster-related insurance benefits 12.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 FA155400003 Other 6.8 6.3 22.3 7.3 65.7 8.5 7.9 207.6 7.9 46

 47 FA265400005 By the rest of the world 7.8 6.8 6.1 11.5 4.1 4.0 4.8 14.4 3.7 47

 48 FA265400033 Capital transfers paid by U.S. government 7.8 6.8 6.1 11.5 4.1 4.0 4.8 14.4 3.7 48

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

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

 Addenda: Net capital transfers paid by sector

 51 FA825440005 By private business (lines 2-25) 7.7 -12.4 13.6 -0.9 57.0 -0.8 -0.7 -0.6 -0.5 51

 52 FA795440005 Financial corporations (lines 3-26) 16.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

 53 FA515440005 Property-casualty insurance companies 16.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

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

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

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

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

 58 FA665410003 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

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

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

 61 FA105440005 Nonfinancial corporations (lines 6-29) -6.2 -12.4 13.6 -0.9 57.0 -0.8 -0.7 -0.6 -0.5 61

 62 FA115440005 Noncorporate business (lines 7-32) -3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 62

 63 FA365440005 By government (lines 8-35) -12.7 3.8 -10.0 -3.8 -12.3 -12.1 -12.0 196.0 -15.1 63

 64 FA315440005 Federal (lines 9-36) 59.6 77.8 72.6 74.7 72.7 72.4 70.8 277.2 67.8 64

 65 FA215440005 State and local (lines 16-39) -72.2 -73.9 -82.7 -78.4 -85.0 -84.5 -82.8 -81.2 -83.0 65

 66 FA155440005 By persons (lines 18-44) 9.6 15.4 2.5 16.2 -40.6 16.9 17.5 -181.0 19.4 66

 67 FA265440005 By the rest of the world (lines 21-47) -4.6 -6.8 -6.1 -11.5 -4.1 -4.0 -4.8 -14.4 -3.7 67

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA174090005 Net acquisition of financial assets 1882.7 2416.6 3746.1 3766.2 6398.5 2058.4 2761.3 4081.8 3198.4 1

 2 FA153091003 Foreign deposits 2.9 -1.0 7.8 37.4 -25.8 15.8 3.7 5.5 -2.3 2

 3 FA173020005 Checkable deposits and currency -74.8 -25.3 1816.2 514.2 1663.0 956.0 4131.9 1540.3 1764.2 3

 4 FA173030005 Time and savings deposits 484.0 595.2 598.9 1320.8 2758.7 289.0 -1972.9 1964.6 -218.6 4

 5 FA173034005 Money market fund shares 185.9 417.6 346.5 930.5 1114.2 -213.3 -445.4 886.4 212.3 5

 6 FA174022005 Debt securities 827.8 259.7 -472.8 222.9 -843.3 -1321.5 50.8 -1822.2 -773.1 6

 7 FA173061105 Treasury securities 603.8 175.6 -122.0 -516.8 -201.5 -125.3 355.4 -689.5 -322.6 7

 8 FA153061705 Agency- and GSE-backed securities 169.3 123.9 -346.1 68.3 -1066.6 -193.0 -193.0 -370.4 20.9 8

 9 FA173062005 Municipal securities 0.9 -67.4 -33.4 -5.9 -43.0 -5.4 -79.5 -104.6 -70.3 9

 10 FA153063005 Corporate and foreign bonds 53.8 27.6 28.8 677.2 467.7 -997.8 -32.0 -657.7 -401.0 10

 11 FA174023005 Loans -20.2 35.4 113.6 627.7 -106.1 -154.0 86.7 50.7 58.9 11

 12 FA153064105 Corporate equities (2) -182.3 62.4 435.7 275.0 615.9 976.0 -124.3 570.1 1156.5 12

 13 FA153064205 Mutual fund shares 19.1 320.9 -59.5 -1036.8 229.1 309.9 259.7 539.2 412.6 13

 14 FA163070005 Trade receivables 3.5 7.6 7.6 7.6 7.6 7.6 7.6 6.9 6.9 14

 15 FA153040005 Life insurance reserves 49.4 16.7 94.2 197.2 10.5 78.2 90.7 -81.3 27.6 15

 16 FA153050005 Pension entitlements 283.7 437.4 479.8 472.7 444.1 471.3 531.1 215.2 310.2 16

 17 FA173099005 Miscellaneous and other assets 303.8 289.9 378.1 197.1 530.6 643.3 141.4 206.4 243.1 17

 18 FA175050005 Gross investment in nonfinancial assets 2643.4 2722.4 2877.4 2749.4 2592.3 3024.8 3143.0 3376.3 3494.4 18

 19 FA175012005 Residential fixed investment 788.4 803.4 879.0 856.1 777.7 896.9 985.2 1031.6 1019.6 19

 20 FA175013005 Nonresidential fixed investment 495.5 519.4 511.6 527.3 496.5 502.1 520.5 541.7 557.9 20

 21 FA155111003 Consumer durables 1369.3 1413.4 1512.5 1389.4 1373.8 1640.5 1646.0 1831.9 1956.3 21

 22 FA155420003 Nonproduced nonfinancial assets -13.5 -14.0 -14.4 -14.1 -14.3 -14.4 -14.7 -14.8 -15.0 22

 23 FA115020005 Inventories 3.7 0.3 -11.2 -9.3 -41.4 -0.3 6.0 -14.1 -24.3 23

 24 FA176300005 Consumption of fixed capital 2018.7 2106.5 2203.6 2165.4 2180.8 2201.8 2266.5 2269.5 2340.9 24

 25 FA176320005 Residential fixed investment 519.7 540.7 567.5 558.9 563.6 569.8 577.8 587.0 601.8 25

 26 FA176330005 Nonresidential fixed investment 392.5 411.3 427.6 416.0 419.3 431.9 443.2 460.6 479.7 26

 27 FA156300103 Consumer durables 1106.4 1154.5 1208.5 1190.5 1197.9 1200.1 1245.5 1221.9 1259.3 27

 28 FA172010005 Net investment in nonfinancial assets (3) 624.7 615.9 673.8 584.0 411.6 823.0 876.5 1106.9 1153.5 28

 29 FA175012865 Residential fixed investment 268.7 262.6 311.4 297.2 214.1 327.1 407.4 444.6 417.8 29

 30 FA175013865 Nonresidential fixed investment 103.0 108.1 84.0 111.3 77.2 70.2 77.2 81.1 78.1 30

 31 FA155111005 Consumer durables 262.9 258.9 304.0 198.9 175.9 440.5 400.6 610.0 697.0 31

 32 FA155420003 Nonproduced nonfinancial assets -13.5 -14.0 -14.4 -14.1 -14.3 -14.4 -14.7 -14.8 -15.0 32

 33 FA115020005 Inventories 3.7 0.3 -11.2 -9.3 -41.4 -0.3 6.0 -14.1 -24.3 33

 34 FA174190005 Net increase in liabilities 899.7 924.6 1188.3 1364.9 908.2 1410.0 1070.1 1487.0 1627.9 34

 35 FA173165105 One-to-four-family residential mortgages 320.6 307.6 479.4 391.6 340.0 630.8 555.2 649.7 942.6 35

 36 FA173165205 Other mortgages 176.9 237.9 214.8 230.9 204.6 183.3 240.2 169.6 171.9 36

 37 FA153166000 Consumer credit 172.7 185.1 -11.9 26.4 -234.6 74.3 86.3 151.5 364.7 37

 38 FA173169005 Other loans and advances -21.7 32.4 264.7 70.4 114.3 411.3 462.7 399.3 189.9 38

 39 FA173199005 Other liabilities 251.1 161.5 241.4 645.6 483.9 110.3 -274.4 116.8 -41.2 39

 40 FA175440005 Net capital transfers paid (4) 6.6 15.4 2.5 16.2 -40.6 16.9 17.5 -181.0 19.4 40

 41 FA176007025 Personal saving, FOF concept (FOF) 1614.2 2123.3 3234.1 3001.6 5861.3 1488.3 2585.2 3520.7 2743.5 41

 42 FA155111005 - Net investment in consumer durables 262.9 258.9 304.0 198.9 175.9 440.5 400.6 610.0 697.0 42

 43 FA313154015 - Government insurance and pension fund reserves (5) -2.0 -2.2 -4.0 -4.2 -5.0 -3.6 -3.2 -1.9 -5.7 43

 44 FA156600075 + Contr. for govt. soc. insur., U.S.-affiliated areas 5.4 5.2 5.1 5.2 4.9 5.0 5.2 5.3 5.4 44

 45 FA176007005 = Personal saving, NIPA concept (FOF) (6) 1358.8 1871.8 2939.2 2812.0 5695.3 1056.5 2193.0 2917.9 2057.6 45

 46 FA156007015 Personal saving, NIPA concept (NIPA) 1190.9 1237.8 2887.5 1611.4 4772.0 2821.3 2345.5 3979.7 1854.0 46

 47 FA176007085 Difference 167.9 634.1 51.7 1200.7 923.3 -1764.9 -152.4 -1061.7 203.6 47

 Memo:

 48 FA156012005 Disposable personal income 15629.7 16219.3 17432.0 16600.6 18249.6 17595.7 17282.2 19455.3 18014.5 48

 Personal saving as a percentage of disposable personal income:

 49 FA176007026 FOF concept (FOF data) (line 41) 10.33 13.09 18.55 18.08 32.12 8.46 14.96 18.10 15.23 49

 50 FA176007006 NIPA concept (FOF data) (line 45) 8.69 11.54 16.86 16.94 31.21 6.00 12.69 15.00 11.42 50

 51 FA156007016 NIPA concept (NIPA data) (line 46) 7.62 7.63 16.56 9.71 26.15 16.03 13.57 20.46 10.29 51

 52 FA176007086 Difference (line 47) 1.07 3.91 0.30 7.23 5.06 -10.03 -0.88 -5.46 1.13 52

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

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

(3) Line 18 less line 24.

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

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

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

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

 plus net capital transfers paid (line 40). Personal saving, NIPA concept (NIPA) (line 46) is disposable personal income (line 48) less personal outlays (table F.101, line 4).
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L.6 Assets and Liabilities of the Personal Sector (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL174090005 Total financial assets 77057.8 87637.3 98370.7 80816.3 88148.5 91659.6 98370.7 102313.0 106413.3 1

 2 LM153091003 Foreign deposits 41.8 40.8 48.6 50.2 43.7 47.7 48.6 50.0 49.4 2

 3 FL173020005 Checkable deposits and currency 1526.2 1511.3 3327.5 1711.9 2037.2 2181.3 3327.5 3778.8 4119.7 3

 4 FL173030005 Time and savings deposits 10343.6 10941.0 11539.4 11299.3 11885.7 11988.3 11539.4 12057.0 11906.3 4

 5 FL173034005 Money market fund shares 1903.5 2321.1 2667.7 2510.7 2778.3 2746.1 2667.7 2848.6 2893.4 5

 6 FL174022005 Debt securities 4499.9 4807.1 4579.3 4656.4 4402.3 4198.6 4579.3 4037.5 3856.4 6

 7 FL173061105 Treasury securities 1729.3 1849.2 1827.7 1500.6 1401.8 1475.8 1827.7 1582.7 1435.0 7

 8 LM153061705 Agency- and GSE-backed securities 587.9 685.4 314.8 695.0 443.7 371.3 314.8 212.0 246.7 8

 9 FL173062005 Municipal securities 1887.9 1910.8 1929.8 1888.6 1911.3 1917.9 1929.8 1890.1 1885.1 9

 10 LM153063005 Corporate and foreign bonds 294.8 361.7 507.0 572.2 645.5 433.7 507.0 352.6 289.6 10

 11 FL174023005 Loans 1164.3 1199.8 1313.4 1356.7 1330.2 1291.7 1313.4 1326.0 1340.7 11

 12 FL153069005 Other loans and advances 999.4 1038.7 1156.6 1196.4 1170.5 1133.3 1156.6 1168.9 1185.2 12

 13 FL173065005 Mortgages 133.6 133.8 132.6 134.2 134.6 134.1 132.6 133.2 131.9 13

 14 FL173066005 Consumer credit 31.3 27.3 24.1 26.1 25.1 24.3 24.1 23.9 23.6 14

 15 LM153064105 Corporate equities (2) 16269.8 20989.3 25634.0 16420.9 20108.1 22198.6 25634.0 28038.6 30490.0 15

 16 LM153064205 Mutual fund shares 7998.8 9966.1 11074.8 8143.8 9433.1 10025.6 11074.8 11553.9 12290.4 16

 17 FL163070005 Trade receivables 263.7 271.3 279.0 273.2 275.2 277.1 279.0 280.7 282.4 17

 18 FL153040005 Life insurance reserves 1659.1 1731.3 1867.0 1733.7 1776.1 1811.9 1867.0 1854.2 1886.5 18

 19 FL153050005 Pension entitlements 25812.9 27994.1 29797.8 26751.0 28039.7 28696.9 29797.8 30199.0 30951.0 19

 20 FL173099005 Miscellaneous and other assets 5574.1 5864.1 6242.2 5908.5 6038.9 6196.0 6242.2 6288.7 6347.1 20

 21 FL174190005 Total liabilities 24464.3 25398.9 26597.1 25634.6 25888.4 26286.1 26597.1 26887.6 27309.3 21

 22 FL173165105 One-to-four-family residential mortgages 10880.6 11171.4 11642.0 11237.4 11324.0 11492.6 11642.0 11773.5 12011.0 22

 23 FL173165205 Other mortgages 3730.5 3968.5 4183.2 4026.2 4077.3 4123.2 4183.2 4225.6 4268.6 23

 24 FL153166000 Consumer credit 4007.0 4192.2 4185.0 4147.8 4097.3 4142.7 4185.0 4167.2 4266.5 24

 25 FL173169005 Other loans and advances 827.8 860.2 1124.9 879.9 906.2 1006.5 1124.9 1226.7 1272.0 25

 26 FL173199005 Other liabilities 5018.3 5206.6 5462.1 5343.3 5483.6 5521.2 5462.1 5494.5 5491.2 26

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

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

Z.1, September 23, 2021 15

F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA386000105 Gross saving less net capital transfers paid 5063.1 5111.2 5120.4 5289.3 4566.5 4888.1 5737.8 5801.5 5636.0 1

 2 FA385090005 Gross investment 5290.4 6215.6 4981.9 6584.0 3642.8 4987.2 4713.5 4179.6 5341.8 2

 3 FA385050005 Capital expenditures 5426.5 5661.2 5634.1 5603.7 5051.1 5829.1 6052.6 6231.2 6339.2 3

 4 FA155111003 Consumer durables 1369.3 1413.4 1512.5 1389.4 1373.8 1640.5 1646.0 1831.9 1956.3 4

 5 FA385012005 Fixed residential investment 801.0 813.9 904.6 876.2 808.1 924.2 1009.7 1073.7 1069.5 5

 6 FA385013005 Fixed nonresidential investment 3197.4 3360.2 3276.9 3358.3 3159.0 3250.6 3339.6 3419.6 3489.5 6

 7 FA145020005 Inventory change 58.7 73.6 -59.6 -20.6 -289.9 15.0 57.3 -94.2 -176.1 7

 8 FA385420005 Nonproduced nonfinancial assets 0.1 0.1 -0.2 0.4 0.1 -1.3 0.1 0.2 0.0 8

 9 FA385000005 Net lending (+) or net borrowing (-) -136.1 554.4 -652.3 980.2 -1408.3 -841.8 -1339.2 -2051.7 -997.4 9

 10 FA384090005 Net acqisition of financial assets 3107.7 4943.8 7242.8 7432.3 14011.7 4187.2 3339.9 3643.3 4461.2 10

 11 FA313011005 U.S. official reserve assets 5.0 4.6 8.9 -1.0 19.8 7.2 9.8 -8.5 1.8 11

 12 FA383091005 Foreign deposits -107.4 23.7 19.6 -41.1 110.2 73.6 -64.3 3.6 135.7 12

 13 FA383020005 Checkable deposits and currency 329.0 132.1 3892.9 2355.1 8300.3 1275.4 3640.7 -465.4 898.9 13

 14 FA383030005 Time and savings deposits 497.9 629.6 691.6 1763.6 2901.0 301.3 -2199.6 1960.9 -265.1 14

 15 FA383034005 Money market fund shares 150.4 516.6 474.0 2452.8 947.1 -974.9 -529.0 746.7 160.4 15

 16 FA382051005 Security repurchase agreements -23.8 -2.5 45.7 47.3 71.5 10.0 54.0 -38.4 85.6 16

 17 FA384022005 Debt securities 855.8 377.2 -195.4 487.3 -208.3 -1287.0 226.3 -1763.7 198.8 17

 18 FA383069105 Open market paper 38.9 54.8 39.7 51.3 -37.6 75.7 69.6 -32.9 165.3 18

 19 FA383061105 Treasury securities 575.8 233.7 179.1 -381.9 613.3 -49.5 534.3 -490.0 486.8 19

 20 FA383061705 Agency- and GSE-backed securities 169.4 128.7 -413.1 115.9 -1237.1 -261.6 -269.3 -477.6 -18.6 20

 21 FA383062005 Municipal securities 3.1 -63.5 -31.7 -6.0 -38.7 -3.4 -78.8 -99.9 -68.2 21

 22 FA383063005 Corporate and foreign bonds 68.4 23.5 30.6 708.1 491.8 -1048.1 -29.5 -663.3 -366.4 22

 23 FA384023005 Loans 83.2 128.5 374.5 684.3 441.9 152.8 218.9 163.2 168.6 23

 24 FA383069005 Other loans and advances -6.8 49.2 306.1 616.9 354.3 115.5 137.6 79.0 99.9 24

 25 FA383065005 Mortgages 2.9 1.1 9.8 -3.6 22.1 9.5 11.1 17.0 6.2 25

 26 FA383066005 Consumer credit 87.1 78.3 58.6 71.0 65.4 27.9 70.2 67.1 62.5 26

 27 FA383064105 Corporate equities -222.4 69.2 304.7 168.6 488.9 838.6 -277.3 439.1 1025.5 27

 28 FA383064205 Mutual fund shares 11.3 327.4 -47.7 -1025.0 240.9 321.7 271.5 551.0 424.4 28

 29 FA383070005 Trade receivables 482.7 613.0 110.1 -333.5 -892.1 953.7 712.1 757.3 795.5 29

 30 FA153040005 Life insurance reserves 49.4 16.7 94.2 197.2 10.5 78.2 90.7 -81.3 27.6 30

 31 FA153050005 Pension entitlements 283.7 437.4 479.8 472.7 444.1 471.3 531.1 215.2 310.2 31

 32 FA383078005 Taxes payable 34.7 -10.7 -5.5 -50.1 323.2 -315.3 20.2 -39.2 -270.4 32

 33 FA152090205 Equity in noncorporate business -22.4 18.8 50.2 26.8 23.9 31.7 118.4 76.0 59.2 33

 34 FA103092005 U.S. direct investment abroad -133.9 20.0 226.5 -58.3 503.3 164.8 296.0 251.8 421.7 34

 35 FA383090005 Miscellaneous assets 834.4 1642.2 718.9 285.7 285.5 2083.8 220.4 875.0 282.6 35

 36 FA384194005 Net increase in liabilities and equity 3243.7 4389.4 7895.0 6452.1 15420.0 5029.0 4679.0 5695.0 5458.7 36

 37 FA384190005 Net increase in liabilities 3652.6 4618.2 7839.1 6692.7 15338.8 4794.7 4530.4 5475.5 5339.4 37

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

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

 40 FA313112003 Treasury currency -0.3 -0.5 -0.0 0.0 0.0 -0.2 0.0 0.0 0.0 40

 41 FA384122005 Debt securities 1502.8 1439.0 5277.6 3423.6 13892.6 1720.2 2074.0 2439.0 2613.6 41

 42 FA103169100 Open market paper -10.2 -1.9 -62.3 -21.3 -271.1 -70.5 113.6 -223.4 112.2 42

 43 FA313161105 Treasury securities 1411.2 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 43

 44 FA313161705 Agency- and GSE-backed securities -1.5 -1.7 -1.0 -0.1 -0.7 -3.5 0.2 -1.5 -0.0 44

 45 FA383162005 Municipal securities -46.1 9.0 83.4 30.4 95.8 181.5 25.8 121.5 116.1 45

 46 FA103163003 Corporate and foreign bonds 149.3 257.0 675.4 731.9 1748.4 234.5 -13.3 418.6 70.5 46

 47 FA384123005 Loans 827.9 1000.5 1453.3 2934.4 1120.9 745.5 1012.2 1670.7 1399.3 47

 48 FA383168005 Depository institution loans n.e.c. 221.2 58.1 271.3 1838.7 509.4 -773.8 -489.0 27.3 -552.1 48

 49 FA383169005 Other loans and advances -161.3 161.5 455.3 391.8 259.4 590.5 579.4 590.5 364.9 49

 50 FA383165005 Mortgages 595.4 595.8 738.6 677.5 586.7 854.5 835.5 901.4 1221.8 50

 51 FA153166000 Consumer credit 172.7 185.1 -11.9 26.4 -234.6 74.3 86.3 151.5 364.7 51

 52 FA383170005 Trade payables 454.1 364.5 176.9 -182.4 -724.9 880.0 734.7 761.4 737.3 52

 53 FA313140003 Life insurance reserves 0.2 0.9 0.2 -0.6 -0.0 1.4 0.0 1.1 -3.4 53

 54 FA143178005 Taxes payable 7.9 1.7 26.8 69.2 192.4 -185.0 30.9 -24.4 -139.8 54

 55 FA143192305 Foreign direct investment: intercompany debt -68.2 -5.5 -42.3 -60.8 -32.1 -16.7 -59.5 -8.8 -52.7 55

 56 FA383190005 Miscellaneous liabilities 928.1 1817.7 946.7 509.4 889.8 1649.5 738.1 636.5 785.0 56

 57 FA143181105 Net equity issues -408.9 -228.9 55.9 -240.6 81.2 234.3 148.6 219.5 119.3 57

 58 FA103164103 Corporate equities -617.4 -457.8 -168.8 -385.9 -58.0 41.9 -273.3 -146.0 -273.0 58

 59 FA112090205 Equity in noncoporate business -31.9 13.5 43.3 21.5 9.3 37.2 105.4 62.3 42.4 59

 60 FA143192105 Foreign direct investment: equity 240.5 215.4 181.4 123.8 130.0 155.2 316.5 303.2 349.9 60

 61 FA387005005 Discrepancy -227.3 -1104.4 138.5 -1294.7 923.7 -99.2 1024.3 1621.9 294.2 61

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

16 Z.1, September 23, 2021

F.101 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA156010001 Personal income 17706.0 18424.4 19627.6 18842.2 20348.7 19777.4 19542.0 21867.3 20564.9 1

 2 FA156210005 - Personal current taxes 2076.3 2205.1 2195.6 2241.6 2099.0 2181.8 2259.8 2412.1 2550.4 2

 3 FA156012005 = Disposable personal income 15629.7 16219.3 17432.0 16600.6 18249.6 17595.7 17282.2 19455.3 18014.5 3

 4 FA156900005 - Personal outlays 14438.8 14981.5 14544.5 14989.2 13477.7 14774.3 14936.8 15475.6 16160.5 4

 5 FA156007015 = Personal saving, NIPA (2) 1190.9 1237.8 2887.5 1611.4 4772.0 2821.3 2345.5 3979.7 1854.0 5

 6 FA313154015 + Government insurance and pension reserves (3) -2.0 -2.2 -4.0 -4.2 -5.0 -3.6 -3.2 -1.9 -5.7 6

 7 FA156600075 - Contr. for govt. soc. insur., U.S.-affiliated areas 5.4 5.2 5.1 5.2 4.9 5.0 5.2 5.3 5.4 7

 8 FA155111005 + Net investment in consumer durables 262.9 258.9 304.0 198.9 175.9 440.5 400.6 610.0 697.0 8

 9 FA156300005 + Consumption of fixed capital 1681.2 1754.8 1839.5 1806.3 1819.4 1836.3 1895.9 1892.0 1953.1 9

 10 FA155440005 - Net capital transfers paid (4) 9.6 15.4 2.5 16.2 -40.6 16.9 17.5 -181.0 19.4 10

 11 FA156000105 = Gross saving less net capital transfers paid 3118.0 3228.6 5019.4 3591.0 6798.0 5072.5 4616.1 6655.4 4473.6 11

 12 FA155090005 Gross investment 3285.9 3862.7 5071.0 4791.7 7721.3 3307.6 4463.6 5593.7 4677.2 12

 13 FA155050005 Capital expenditures 2223.4 2286.4 2453.7 2311.5 2199.0 2611.7 2692.7 2921.0 3036.4 13

 14 FA155111003 Consumer durable goods 1369.3 1413.4 1512.5 1389.4 1373.8 1640.5 1646.0 1831.9 1956.3 14

 15 FA155012005 Residential 663.6 673.4 738.5 719.0 652.8 752.9 829.3 867.3 856.6 15

 16 FA165013005 Nonprofit nonresidential 204.1 213.7 217.1 217.2 186.6 232.7 232.0 236.6 238.5 16

 17 FA155420003 Nonproduced nonfinancial assets -13.5 -14.0 -14.4 -14.1 -14.3 -14.4 -14.7 -14.8 -15.0 17

 18 FA155000005 Net lending (+) or net borrowing (-) 1062.4 1576.3 2617.3 2480.2 5522.3 695.9 1771.0 2672.7 1640.8 18

 19 FA154090005 Net acquisition of financial assets 1541.7 2098.6 3244.0 3077.0 5514.3 1605.8 2779.0 3809.1 2988.2 19

 20 FA153091003 Foreign deposits 2.9 -1.0 7.8 37.4 -25.8 15.8 3.7 5.5 -2.3 20

 21 FA153020005 Checkable deposits and currency -86.3 -45.8 1712.1 282.4 1469.2 963.6 4133.4 1451.6 1711.0 21

 22 FA153030005 Time and savings deposits 436.2 536.6 476.5 1022.1 2528.0 303.5 -1947.7 1829.3 -294.1 22

 23 FA153034005 Money market fund shares 181.1 411.8 337.4 916.5 1096.5 -219.0 -444.3 883.4 210.8 23

 24 FA154022005 Debt securities 825.8 258.7 -475.8 237.0 -858.1 -1328.1 46.1 -1829.8 -769.8 24

 25 FA153061105 Treasury securities 601.6 174.7 -124.8 -501.5 -215.9 -131.8 350.2 -696.1 -319.5 25

 26 FA153061705 Agency- and GSE-backed securities 169.3 123.9 -346.1 68.3 -1066.6 -193.0 -193.0 -370.4 20.9 26

 27 FA153062005 Municipal securities 1.1 -67.5 -33.8 -7.0 -43.4 -5.5 -79.1 -105.6 -70.1 27

 28 FA153063005 Corporate and foreign bonds 53.8 27.6 28.8 677.2 467.7 -997.8 -32.0 -657.7 -401.0 28

 29 FA154023005 Loans -21.2 32.7 109.3 621.1 -114.4 -156.6 87.2 44.6 58.1 29

 30 FA153069005 Other loans and advances (5) -11.8 39.2 118.0 630.7 -103.6 -148.6 93.3 49.2 65.2 30

 31 FA153065005 Mortgages -5.5 -2.5 -5.5 -5.0 -6.9 -4.6 -5.4 -3.6 -6.1 31

 32 FA163066223 Consumer credit (student loans) -3.9 -4.0 -3.1 -4.6 -4.0 -3.4 -0.6 -1.1 -1.0 32

 33 FA153064105 Corporate equities (6) -182.3 62.4 435.7 275.0 615.9 976.0 -124.3 570.1 1156.5 33

 34 FA153064205 Mutual fund shares 19.1 320.9 -59.5 -1036.8 229.1 309.9 259.7 539.2 412.6 34

 35 FA163070005 Trade receivables 3.5 7.6 7.6 7.6 7.6 7.6 7.6 6.9 6.9 35

 36 FA153040005 Life insurance reserves 49.4 16.7 94.2 197.2 10.5 78.2 90.7 -81.3 27.6 36

 37 FA153050005 Pension entitlements (7) 283.7 437.4 479.8 472.7 444.1 471.3 531.1 215.2 310.2 37

 38 FA152090205 Equity in noncorporate business -22.4 18.8 50.2 26.8 23.9 31.7 118.4 76.0 59.2 38

 39 FA153090005 Miscellaneous assets 52.1 41.8 68.7 18.0 87.9 151.8 17.2 98.4 101.4 39

 40 FA154190005 Net increase in liabilities 479.3 522.3 626.7 596.8 -8.0 909.8 1008.0 1136.5 1347.4 40

 41 FA163162003 Debt securities (municipal securities) -2.4 -3.3 -9.9 -11.7 -9.0 -5.4 -13.7 2.8 -1.0 41

 42 FA154123005 Loans 473.0 517.2 629.8 591.6 -1.9 910.1 1019.3 1118.3 1344.9 42

 43 FA153165105 One-to-four-family residential mortgages (8) 294.2 294.2 451.2 373.4 322.5 592.1 516.9 610.2 883.6 43

 44 FA153166000 Consumer credit 172.7 185.1 -11.9 26.4 -234.6 74.3 86.3 151.5 364.7 44

 45 FA153168005 Depository institution loans n.e.c. (9) 39.9 11.1 20.4 135.0 -32.6 -44.7 23.8 -3.1 7.1 45

 46 FA153169005 Other loans and advances -30.5 23.8 168.6 55.3 -58.7 287.0 390.8 358.6 88.5 46

 47 FA163165505 Commercial mortgages -3.3 2.9 1.4 1.4 1.4 1.4 1.4 1.1 1.1 47

 48 FA163170005 Trade payables 6.7 6.9 6.7 6.7 6.7 6.7 6.7 6.8 6.8 48

 49 FA543077073 Deferred and unpaid life insurance premiums 1.9 1.5 0.1 10.2 -3.8 -1.7 -4.4 8.5 -3.3 49

 50 FA157005005 Discrepancy -167.9 -634.1 -51.7 -1200.7 -923.3 1764.9 152.4 1061.7 -203.6 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary table B.101.n shows estimates of annual year-end outstandings of nonprofit organizations.

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

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

(4) Table F.5, line 66.

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

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

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

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

(9) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF I).
Transactions

Z.1, September 23, 2021 17

F.102 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA146110005 Income before taxes 3032.7 2970.4 3033.5 2818.8 2537.2 3409.5 3368.4 3596.8 3976.8 1

 2 FA146000105 Gross saving less net capital transfers paid 2488.8 2493.7 2514.5 2385.0 2221.3 2772.9 2678.7 2816.1 2982.2 2

 3 FA145090005 Gross investment 2424.5 2972.0 2372.3 3128.5 1391.3 3310.0 1659.6 2436.9 3018.8 3

 4 FA145050005 Capital expenditures 2485.1 2620.6 2384.5 2502.8 2060.3 2428.8 2546.0 2519.7 2492.2 4

 5 FA145019005 Fixed investment 2428.1 2547.1 2444.2 2525.6 2353.0 2406.9 2491.4 2598.6 2671.1 5

 6 FA145012005 Residential 131.5 133.4 156.3 147.9 145.7 161.6 170.1 196.3 203.0 6

 7 FA145013005 Nonresidential 2296.7 2413.7 2287.9 2377.8 2207.3 2245.4 2321.3 2402.3 2468.1 7

 8 FA145020005 Change in inventories 58.7 73.6 -59.6 -20.6 -289.9 15.0 57.3 -94.2 -176.1 8

 9 FA105420005 Nonproduced nonfinancial assets -1.7 -0.1 -0.2 -2.2 -2.7 6.8 -2.7 15.4 -2.9 9

 10 FA145000005 Net lending (+) or net borrowing (-) -60.6 351.4 -12.1 625.7 -669.1 881.2 -886.4 -82.8 526.6 10

 11 FA144090005 Net acquisition of financial assets 1175.0 2728.0 1919.0 3603.2 1507.2 2147.4 418.0 1916.1 1563.7 11

 12 FA103091003 Foreign deposits -110.3 24.7 11.8 -78.6 136.0 57.8 -68.1 -1.8 138.1 12

 13 FA143020005 Checkable deposits and currency 249.5 170.6 763.6 1414.5 1878.5 91.6 -330.1 279.8 -5.8 13

 14 FA143030005 Time and savings deposits 53.6 72.9 226.0 688.5 354.2 -12.7 -125.8 95.2 102.4 14

 15 FA143034005 Money market fund shares -28.6 98.0 128.6 1512.9 -161.3 -751.9 -85.2 -141.9 -51.6 15

 16 FA102051003 Security repurchase agreements -25.0 -1.2 26.4 56.0 20.0 -8.5 38.1 -63.4 60.1 16

 17 FA144022005 Debt securities 21.0 70.3 55.5 169.5 98.5 -8.7 -37.1 -80.8 110.3 17

 18 FA103069100 Commercial paper 38.4 55.4 38.1 55.4 -32.0 66.9 62.0 -48.6 141.4 18

 19 FA143061105 Treasury securities -13.4 7.6 12.5 77.9 100.3 -56.3 -72.0 -21.2 -24.3 19

 20 FA103061703 Agency- and GSE-backed securities -5.5 2.4 4.4 35.2 29.3 -20.0 -26.9 -12.6 -6.7 20

 21 FA143062005 Municipal securities 1.5 4.8 0.5 0.9 0.8 0.7 -0.3 1.6 -0.2 21

 22 FA144023005 Loans 3.3 4.3 6.6 0.7 1.7 -15.9 40.0 -1.7 -6.8 22

 23 FA143065005 Mortgages 3.0 4.9 6.6 8.8 10.6 5.0 1.9 8.6 3.2 23

 24 FA143066005 Consumer credit 0.2 -0.7 0.0 -8.1 -9.0 -21.0 38.1 -10.2 -10.0 24

 25 FA103064103 Corporate equities -40.7 10.2 -127.5 -103.0 -123.5 -134.0 -149.7 -127.5 -127.5 25

 26 FA103064203 Mutual fund shares -9.0 5.3 10.6 10.6 10.6 10.6 10.6 10.6 10.6 26

 27 FA143070005 Trade receivables 445.9 588.2 76.7 -321.9 -899.6 881.5 646.9 697.6 749.0 27

 28 FA103092005 U.S. direct investment abroad -133.9 20.0 226.5 -58.3 503.3 164.8 296.0 251.8 421.7 28

 29 FA143090005 Miscellaneous assets 749.0 1664.6 514.0 312.1 -311.1 1872.7 182.4 998.3 163.3 29

 30 FA144194005 Net increase in liabilities and equity 1235.6 2376.5 1931.1 2977.6 2176.3 1266.1 1304.4 1998.9 1037.0 30

 31 FA144190005 Net increase in liabilities 1644.5 2605.4 1875.2 3218.2 2095.0 1031.8 1155.8 1779.5 917.7 31

 32 FA104122005 Debt securities 135.9 270.3 617.7 725.3 1474.9 179.4 91.4 201.8 198.8 32

 33 FA103169100 Commercial paper -10.2 -1.9 -62.3 -21.3 -271.1 -70.5 113.6 -223.4 112.2 33

 34 FA103162000 Municipal securities -3.2 15.2 4.7 14.6 -2.5 15.4 -8.9 6.6 16.1 34

 35 FA103163003 Corporate bonds 149.3 257.0 675.4 731.9 1748.4 234.5 -13.3 418.6 70.5 35

 36 FA144123005 Loans 505.5 482.3 822.5 2342.4 1122.2 -166.4 -8.2 551.7 54.3 36

 37 FA143168005 Depository institution loans n.e.c. 181.3 47.0 250.9 1703.6 542.0 -729.1 -512.8 30.4 -559.1 37

 38 FA143169005 Other loans and advances 19.7 136.6 285.7 336.0 317.5 301.8 187.5 231.2 276.3 38

 39 FA143165005 Mortgages 304.5 298.7 285.9 302.7 262.7 261.0 317.2 290.0 337.1 39

 40 FA143170005 Trade payables 326.1 273.0 104.9 -201.9 -738.3 743.6 616.1 663.0 607.8 40

 41 FA143178005 Taxes payable 7.9 1.7 26.8 69.2 192.4 -185.0 30.9 -24.4 -139.8 41

 42 FA143192305 Foreign direct investment: intercompany debt -68.2 -5.5 -42.3 -60.8 -32.1 -16.7 -59.5 -8.8 -52.7 42

 43 FA143190005 Miscellaneous liabilities 737.3 1583.6 345.5 344.1 75.9 477.0 485.1 396.2 249.3 43

 44 FA143181105 Net equity issues -408.9 -228.9 55.9 -240.6 81.2 234.3 148.6 219.5 119.3 44

 45 FA103164103 Corporate equities -617.4 -457.8 -168.8 -385.9 -58.0 41.9 -273.3 -146.0 -273.0 45

 46 FA112090205 Equity in noncoporate business -31.9 13.5 43.3 21.5 9.3 37.2 105.4 62.3 42.4 46

 47 FA143192105 Foreign direct investment: equity 240.5 215.4 181.4 123.8 130.0 155.2 316.5 303.2 349.9 47

 48 FA107005005 Discrepancy 64.3 -478.3 142.1 -743.5 830.0 -537.2 1019.2 379.2 -36.6 48

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

18 Z.1, September 23, 2021

F.103 Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA106060005 Profits before tax 1287.0 1208.0 1226.8 1023.7 910.0 1491.5 1482.1 1725.1 1980.9 1

 2 FA106231005 - Taxes on corporate income 200.5 203.6 189.6 162.8 158.7 214.1 222.7 244.8 272.4 2

 3 FA106121075 - Net dividends 226.0 695.7 796.2 756.5 789.5 766.3 872.5 759.1 863.0 3

 4 FA105020601 + Inventory valuation adjustment (IVA) -47.7 -0.0 -18.2 93.0 45.1 -88.0 -122.9 -249.5 -322.1 4

 5 FA106300015 + Capital consumption allowance (1) 1652.4 1781.2 1817.7 1806.7 1811.3 1818.7 1834.1 1869.8 1891.2 5

 6 FA106006065 + Foreign earnings retained abroad -323.0 39.7 123.4 20.8 98.8 164.6 209.4 96.6 179.2 6

 7 FA105440005 - Net capital transfers paid (2) -6.2 -12.4 13.6 -0.9 57.0 -0.8 -0.7 -0.6 -0.5 7

 8 FA106000105 = Gross savings less net capital transfers paid 2148.4 2142.0 2150.3 2026.0 1859.9 2407.4 2308.1 2438.7 2594.5 8

 9 FA105090005 Gross investment 2084.0 2620.3 2008.2 2769.4 1029.9 2944.5 1289.0 2059.5 2631.1 9

 10 FA105050005 Capital expenditures 2065.2 2184.6 1960.8 2064.9 1667.0 2015.6 2095.6 2064.4 2034.2 10

 11 FA105019005 Fixed investment (3) 2011.9 2111.4 2009.3 2078.5 1918.3 1993.5 2047.0 2129.2 2188.9 11

 12 FA105020005 Inventory change + IVA 55.0 73.3 -48.3 -11.3 -248.6 15.3 51.3 -80.2 -151.8 12

 13 FA105420005 Nonproduced nonfinancial assets -1.7 -0.1 -0.2 -2.2 -2.7 6.8 -2.7 15.4 -2.9 13

 14 FA105000005 Net lending (+) or net borrowing (-) 18.9 435.7 47.4 704.5 -637.1 928.9 -806.6 -4.9 596.9 14

 15 FA104090005 Net acquisition of financial assets 865.9 2396.4 1373.5 2892.5 613.7 1657.6 330.3 1581.2 1311.0 15

 16 FA103091003 Foreign deposits -110.3 24.7 11.8 -78.6 136.0 57.8 -68.1 -1.8 138.1 16

 17 FA103020000 Checkable deposits and currency 238.0 150.2 659.5 1182.7 1684.7 99.2 -328.5 191.2 -59.1 17

 18 FA103030003 Time and savings deposits 5.8 14.3 103.6 389.7 123.5 1.8 -100.7 -40.1 26.9 18

 19 FA103034000 Money market fund shares -33.4 92.2 119.6 1499.0 -179.0 -757.7 -84.2 -144.9 -53.2 19

 20 FA102051003 Security repurchase agreements -25.0 -1.2 26.4 56.0 20.0 -8.5 38.1 -63.4 60.1 20

 21 FA104022005 Debt securities 19.1 69.3 52.5 183.6 83.6 -15.3 -41.9 -88.4 113.6 21

 22 FA103069100 Commercial paper 38.4 55.4 38.1 55.4 -32.0 66.9 62.0 -48.6 141.4 22

 23 FA103061103 Treasury securities -15.6 6.7 9.8 93.1 85.9 -62.8 -77.2 -27.8 -21.2 23

 24 FA103061703 Agency- and GSE-backed securities -5.5 2.4 4.4 35.2 29.3 -20.0 -26.9 -12.6 -6.7 24

 25 FA103062003 Municipal securities 1.7 4.8 0.2 -0.2 0.4 0.6 0.2 0.6 0.0 25

 26 FA104023005 Loans 2.2 1.5 2.4 -5.8 -6.6 -18.6 40.5 -7.8 -7.5 26

 27 FA103065003 Mortgages 2.0 2.2 2.4 2.3 2.3 2.4 2.4 2.4 2.5 27

 28 FA103066005 Consumer credit 0.2 -0.7 0.0 -8.1 -9.0 -21.0 38.1 -10.2 -10.0 28

 29 FA103064103 Corporate equities -40.7 10.2 -127.5 -103.0 -123.5 -134.0 -149.7 -127.5 -127.5 29

 30 FA103064203 Mutual fund shares -9.0 5.3 10.6 10.6 10.6 10.6 10.6 10.6 10.6 30

 31 FA103070005 Trade receivables 396.3 540.5 29.7 -367.6 -954.2 836.6 603.8 642.3 736.4 31

 32 FA103092005 U.S. direct investment abroad (4) -133.9 20.0 226.5 -58.3 503.3 164.8 296.0 251.8 421.7 32

 33 FA103090005 Miscellaneous assets 556.6 1469.3 258.6 184.1 -684.6 1420.7 114.3 959.4 51.0 33

 34 FA103072005 Of which: PPP subsidies receivable 0.0 0.0 210.0 0.0 369.9 525.5 -55.3 28.5 197.3 34

 35 FA104194005 Net increase in liabilities and equity 847.0 1960.7 1326.1 2188.0 1250.8 728.7 1136.9 1586.2 714.2 35

 36 FA104190005 Net increase in liabilities 1229.0 2202.5 1315.0 2450.2 1181.5 532.1 1096.2 1428.6 644.8 36

 37 FA104122005 Debt securities 135.9 270.3 617.7 725.3 1474.9 179.4 91.4 201.8 198.8 37

 38 FA103169100 Commercial paper -10.2 -1.9 -62.3 -21.3 -271.1 -70.5 113.6 -223.4 112.2 38

 39 FA103162000 Municipal securities (5) -3.2 15.2 4.7 14.6 -2.5 15.4 -8.9 6.6 16.1 39

 40 FA103163003 Corporate bonds (4) 149.3 257.0 675.4 731.9 1748.4 234.5 -13.3 418.6 70.5 40

 41 FA104123005 Loans 212.1 209.2 311.6 1710.7 183.5 -537.6 -110.2 305.2 -73.9 41

 42 FA103168005 Depository institution loans n.e.c. 103.4 30.9 77.6 1334.7 -3.0 -755.4 -265.9 32.6 -356.2 42

 43 FA103169005 Other loans and advances (6) 10.9 128.0 189.6 321.0 144.5 177.5 115.5 190.5 175.0 43

 44 FA103165005 Mortgages 97.8 50.3 44.4 55.1 42.1 40.3 40.1 82.1 107.3 44

 45 FA103170005 Trade payables 320.7 230.1 130.7 -207.3 -589.1 696.8 622.3 567.2 560.7 45

 46 FA103178005 Taxes payable -10.6 -6.8 13.8 49.1 166.8 -193.3 32.4 -43.2 -142.0 46

 47 FA103192305 Foreign direct investment: intercompany debt -72.9 -5.3 -41.7 -59.8 -31.8 -16.1 -59.3 -8.6 -52.1 47

 48 FA103190005 Miscellaneous liabilities 643.6 1504.9 283.0 232.2 -22.8 402.8 519.6 406.3 153.5 48

 49 FA573074005 Pension fund contributions payable -34.6 -4.6 -10.0 -2.7 -11.3 -11.6 -14.2 -9.0 -14.6 49

 50 FA573073005 Claims of pension fund on sponsor 75.6 74.4 46.1 22.9 50.6 50.0 60.8 13.7 44.8 50

 51 FA103193005 Other 602.6 1435.1 246.9 212.1 -62.0 364.4 473.0 401.5 123.2 51

 52 FA103181105 Net equity issues -381.9 -241.7 11.1 -262.2 69.3 196.6 40.7 157.6 69.3 52

 53 FA103164103 Corporate equities -617.4 -457.8 -168.8 -385.9 -58.0 41.9 -273.3 -146.0 -273.0 53

 54 FA103192105 Foreign direct investment: equity 235.5 216.1 179.9 123.7 127.3 154.7 314.0 303.6 342.3 54

 55 FA107005005 Discrepancy 64.3 -478.3 142.1 -743.5 830.0 -537.2 1019.2 379.2 -36.6 55

 Memo:

 56 FA105005305 Financing gap (7) -406.2 82.3 -66.2 59.7 -94.2 -227.1 -3.1 -277.7 -381.0 56

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

(2) Table F.5, line 61.

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

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

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

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

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

Z.1, September 23, 2021 19

F.104 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA116300005 Gross saving = consumption of fixed capital 337.4 351.7 364.1 359.0 361.4 365.5 370.6 377.4 387.8 1

 2 FA116000105 Gross saving less net capital transfers paid (1) 340.5 351.7 364.1 359.0 361.4 365.5 370.6 377.4 387.8 2

 3 FA116000105 Gross investment 340.5 351.7 364.1 359.0 361.4 365.5 370.6 377.4 387.8 3

 4 FA115050005 Capital expenditures 419.9 436.0 423.7 437.9 393.3 413.1 450.4 455.3 458.0 4

 5 FA115019005 Fixed investment (2) 416.2 435.7 434.9 447.1 434.7 413.4 444.4 469.3 482.3 5

 6 FA115020005 Change in inventories 3.7 0.3 -11.2 -9.3 -41.4 -0.3 6.0 -14.1 -24.3 6

 7 FA115000005 Net lending (+) or net borrowing (-) -79.5 -84.3 -59.5 -78.8 -32.0 -47.6 -79.8 -77.8 -70.2 7

 8 FA114090005 Net acquisition of financial assets 309.1 331.5 545.4 710.7 893.5 489.8 87.7 334.9 252.6 8

 9 FA113020005 Checkable deposits and currency 11.5 20.4 104.1 231.8 193.8 -7.6 -1.5 88.6 53.3 9

 10 FA113030003 Time and savings deposits 47.8 58.6 122.5 298.8 230.7 -14.5 -25.1 135.3 75.5 10

 11 FA113034003 Money market funds 4.8 5.8 9.1 13.9 17.7 5.7 -1.1 3.0 1.5 11

 12 FA114022005 Debt securities 1.9 1.0 3.0 -14.2 14.9 6.7 4.8 7.6 -3.3 12

 13 FA113061003 Treasury securities 2.2 0.9 2.7 -15.3 14.4 6.5 5.2 6.6 -3.1 13

 14 FA113062003 Municipal securities -0.3 0.1 0.3 1.1 0.5 0.1 -0.4 1.0 -0.2 14

 15 FA114023005 Loans 1.0 2.7 4.3 6.5 8.3 2.7 -0.5 6.1 0.7 15

 16 FA113065005 Mortgages 1.0 2.7 4.3 6.5 8.3 2.7 -0.5 6.1 0.7 16

 17 FA113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA113070003 Trade receivables 49.6 47.7 47.1 45.7 54.5 44.9 43.1 55.3 12.6 18

 19 FA113090005 Miscellaneous assets 192.5 195.2 255.4 128.0 373.5 452.0 68.1 38.9 112.3 19

 20 FA113076005 Insurance receivables -1.3 10.0 16.2 13.2 19.2 22.3 10.1 5.3 5.3 20

 21 FA113092405 Equity investment in GSEs (3) 0.2 0.3 0.2 -0.5 0.7 0.7 -0.0 0.1 2.2 21

 22 FA113072003 PPP subsidies receivable 0.0 0.0 117.5 0.0 204.1 289.9 -23.8 20.6 164.9 22

 23 FA113093005 Other 193.6 185.0 121.5 115.4 149.5 139.1 81.9 12.9 -60.0 23

 24 FA114194005 Net increase in liabilities and equity 388.6 415.8 605.0 789.5 925.4 537.4 167.5 412.7 322.9 24

 25 FA114190005 Net increase in liabilities 415.5 403.0 560.2 768.0 913.5 499.7 59.6 350.8 272.9 25

 26 FA114123005 Loans 293.4 273.1 510.9 631.6 938.7 371.2 102.0 246.5 128.3 26

 27 FA113168005 Depository institution loans n.e.c. 77.9 16.0 173.3 368.9 545.1 26.3 -247.0 -2.3 -202.9 27

 28 FA113169005 Other loans and advances 8.8 8.6 96.1 15.0 173.0 124.3 71.9 40.7 101.4 28

 29 FA113165005 Mortgages 206.7 248.4 241.5 247.7 220.6 220.6 277.1 208.0 229.8 29

 30 FA113170005 Trade payables 5.4 42.9 -25.8 5.5 -149.2 46.8 -6.2 95.8 47.2 30

 31 FA113178003 Taxes payable 18.5 8.4 13.1 20.1 25.6 8.2 -1.6 18.8 2.2 31

 32 FA115114305 Foreign direct investment: intercompany debt 4.7 -0.2 -0.5 -1.1 -0.3 -0.6 -0.2 -0.1 -0.6 32

 33 FA113193003 Miscellaneous liabilities 93.6 78.7 62.5 111.8 98.7 74.1 -34.5 -10.1 95.8 33

 34 FA113181115 Net equity issues -27.0 12.8 44.8 21.5 12.0 37.7 107.9 61.9 50.0 34

 35 FA112090205 Proprietors’ net investment -31.9 13.5 43.3 21.5 9.3 37.2 105.4 62.3 42.4 35

 36 FA115114103 Foreign direct investment: equity 5.0 -0.7 1.4 0.1 2.7 0.5 2.5 -0.4 7.5 36

(1) Net capital transfers paid from table F.5, line 62.

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

(3) Equity in the Farm Credit System.
Transactions

20 Z.1, September 23, 2021

F.105 General Government (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA366010115 Current receipts, NIPA basis 6219.6 6506.7 6781.1 6607.5 7031.8 6669.7 6815.3 7083.3 8201.8 1

 2 FA366210005 Personal current taxes 2076.3 2205.1 2195.6 2241.6 2099.0 2181.8 2259.8 2412.1 2550.4 2

 3 FA366240005 Taxes on production and imports 1461.7 1532.3 1534.7 1577.1 1460.5 1544.0 1557.0 1580.1 1640.2 3

 4 FA366231005 Taxes on corporate income 269.3 289.9 263.8 233.3 229.3 288.5 304.0 331.9 351.7 4

 5 FA316231061 Taxes from the rest of the world 25.7 27.2 27.4 28.6 26.1 26.6 28.3 29.4 29.3 5

 6 FA366601005 Contributions for govt. social insurance 1365.9 1426.6 1464.5 1477.2 1410.8 1463.7 1506.5 1539.2 1564.0 6

 7 FA366150105 Income receipts on assets 217.6 206.7 216.2 212.5 210.4 228.5 213.5 207.3 236.7 7

 8 FA366403105 Current transfer receipts 811.7 832.1 1096.4 851.8 1615.2 954.3 964.3 1002.6 1844.8 8

 9 FA366402105 Current surplus of government enterprises -8.6 -13.3 -17.5 -14.6 -19.5 -17.7 -18.1 -19.3 -15.3 9

 10 FA366900015 Current expenditures, NIPA basis 7343.5 7703.2 9814.9 7900.0 12103.9 10252.3 9003.6 11184.0 10680.0 10

 11 FA366901005 Consumption expenditures 2869.4 2973.9 3078.0 3058.9 3084.9 3079.4 3088.7 3186.5 3223.3 11

 12 FA366404005 Government social benefits 2948.9 3107.1 4214.4 3198.9 5614.7 4345.5 3698.4 5957.4 4287.3 12

 13 FA366403005 Other current transfer payments 634.0 659.5 931.9 694.8 1447.3 792.1 793.5 837.9 1680.1 13

 14 FA366130005 Interest payments 827.9 889.7 829.2 866.5 832.7 814.2 803.6 795.9 797.2 14

 15 FA366402005 Subsidies 63.3 73.0 761.4 80.9 1124.3 1221.2 619.2 406.3 692.2 15

 16 FA366006005 Net saving, NIPA basis -1123.8 -1196.5 -3033.9 -1292.5 -5072.0 -3582.6 -2188.3 -4100.6 -2478.2 16

 17 FA366300005 + Consumption of fixed capital 565.4 586.9 606.4 597.8 601.9 609.6 616.1 624.7 637.5 17

 18 FA313154015 - Insurance and pension fund reserves (2) -2.0 -2.2 -4.0 -4.2 -5.0 -3.6 -3.2 -1.9 -5.7 18

 19 FA365440095 - Net capital transfers (3) -12.7 3.8 -10.0 -3.8 -12.3 -12.1 -12.0 196.0 -15.1 19

 20 FA366000105 = Gross saving less net capital transfers -543.8 -611.2 -2413.5 -686.7 -4452.8 -2957.3 -1557.0 -3670.0 -1819.8 20

 21 FA365090005 Gross investment -419.9 -619.1 -2461.5 -1336.2 -5469.7 -1630.4 -1409.7 -3851.1 -2354.2 21

 22 FA365019005 Fixed investment 702.6 740.0 781.6 772.7 774.7 782.3 796.5 790.8 792.7 22

 23 FA365420005 Nonproduced nonfinancial assets 15.3 14.2 14.4 16.7 17.1 6.3 17.5 -0.4 17.9 23

 24 FA365000005 Net lending (+) or net borrowing (-) -1137.9 -1373.3 -3257.5 -2125.6 -6261.5 -2419.0 -2223.7 -4641.5 -3164.9 24

 25 FA364090005 Net acquisition of financial assets 391.0 117.2 2079.8 752.2 6990.2 434.0 142.9 -2081.9 -90.7 25

 26 FA313011005 U.S. official reserve assets 5.0 4.6 8.9 -1.0 19.8 7.2 9.8 -8.5 1.8 26

 27 FA363020005 Checkable deposits and currency 165.9 7.2 1417.1 658.2 4952.7 220.2 -162.6 -2196.8 -806.2 27

 28 FA363030005 Time and savings deposits 8.0 20.0 -10.9 53.0 18.9 10.6 -126.1 36.4 -73.4 28

 29 FA213034003 Money market fund shares -2.1 6.8 7.9 23.3 11.9 -4.0 0.5 5.2 1.2 29

 30 FA212051003 Security repurchase agreements 1.1 -1.3 19.3 -8.7 51.5 18.5 15.9 25.0 25.5 30

 31 FA364022005 Debt securities 8.9 48.2 224.8 80.9 551.4 49.8 217.3 146.9 858.3 31

 32 FA213069103 Open market paper 0.5 -0.6 1.7 -4.1 -5.6 8.8 7.5 15.7 23.8 32

 33 FA213061105 Treasury securities -12.4 51.4 291.3 41.7 728.8 138.7 256.1 227.3 830.6 33

 34 FA363061705 Agency- and GSE-backed securities 5.6 2.4 -71.4 12.3 -199.8 -48.7 -49.4 -94.6 -32.8 34

 35 FA213062003 Municipal securities 0.5 -0.9 1.5 0.1 3.9 1.4 0.5 4.1 2.1 35

 36 FA363063005 Corporate and foreign bonds 14.6 -4.1 1.8 30.9 24.0 -50.3 2.5 -5.7 34.6 36

 37 FA364023005 Loans 101.2 91.6 258.5 62.4 554.7 325.3 91.7 120.3 117.2 37

 38 FA363065005 Mortgages 5.4 -1.3 8.7 -7.5 18.4 9.0 14.6 12.0 9.1 38

 39 FA313066220 Consumer credit 90.7 83.0 61.7 83.7 78.4 52.2 32.7 78.5 73.5 39

 40 FA313069005 Other loans and advances 5.0 9.9 188.1 -13.8 457.9 264.1 44.4 29.8 34.7 40

 41 FA363064105 Corporate equities 0.6 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 41

 42 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 42

 43 FA363070005 Trade receivables 33.2 17.2 25.7 -19.3 -0.2 64.6 57.5 52.7 39.6 43

 44 FA363078005 Taxes receivable 34.7 -10.7 -5.5 -50.1 323.2 -315.3 20.2 -39.2 -270.4 44

 45 FA363090005 Miscellaneous assets 33.3 -64.2 136.1 -44.4 508.7 59.3 20.8 -221.7 17.9 45

 46 FA364190005 Net increase in liabilities 1528.9 1490.5 5337.3 2877.8 13251.7 2853.0 2366.6 2559.6 3074.2 46

 47 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 FA313112003 Treasury currency -0.3 -0.5 -0.0 0.0 0.0 -0.2 0.0 0.0 0.0 49

 50 FA364122005 Debt securities 1369.2 1171.9 4669.8 2710.1 12426.7 1546.2 1996.2 2234.4 2415.9 50

 51 FA313161105 Treasury securities 1411.2 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 51

 52 FA313161705 Budget agency securities -1.5 -1.7 -1.0 -0.1 -0.7 -3.5 0.2 -1.5 -0.0 52

 53 FA213162005 Municipal securities -40.5 -2.9 88.6 27.5 107.2 171.5 48.4 112.1 101.0 53

 54 FA364123005 Loans -150.6 1.0 1.0 0.4 0.7 1.8 1.1 0.7 0.0 54

 55 FA313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

 56 FA363169005 Other loans and advances -150.6 1.0 1.0 0.4 0.7 1.8 1.1 0.7 0.0 56

 57 FA363170005 Trade payables 121.3 84.6 65.2 12.7 6.7 129.7 111.9 91.6 122.7 57

 58 FA313140003 Insurance reserves 0.2 0.9 0.2 -0.6 -0.0 1.4 0.0 1.1 -3.4 58

 59 FA363190005 Miscellaneous liabilities 189.0 232.6 601.1 155.1 817.7 1174.2 257.3 231.8 539.0 59

 60 FA367005005 Discrepancy -123.8 8.0 48.0 649.5 1016.9 -1326.9 -147.3 181.1 534.4 60

 Memo:

 61 FA374090005 Net acquisition of financial assets (consolidated) (4) 401.8 65.6 1786.0 709.9 6256.8 292.2 -114.9 -2314.1 -923.4 61

 62 FA374190005 Net increase in liabilities (consolidated) (4) 1539.6 1439.0 5043.5 2835.5 12518.3 2711.2 2108.9 2327.5 2241.5 62

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

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

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

(3) Table F.5, line 63 less line 12.

(4) Excludes Treasury securities and municipal securities held by state and local governments (lines 33 and 35) and federal government loans to state and local governments (line 56).
Transactions

Z.1, September 23, 2021 21

F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA316010105 Current receipts, NIPA basis 3569.0 3713.7 3684.5 3751.2 3481.1 3690.5 3815.1 3982.6 4130.9 1

 2 FA316210001 Personal current taxes 1616.5 1708.6 1679.6 1737.9 1581.5 1662.2 1736.9 1851.9 1927.2 2

 3 FA316240001 Taxes on production and imports 163.6 174.7 158.0 185.8 138.3 151.3 156.6 166.2 177.6 3

 4 FA316231001 Taxes on corporate income 208.8 217.0 192.7 166.7 167.4 211.7 225.1 246.4 261.2 4

 5 FA316231061 Taxes from the rest of the world 25.7 27.2 27.4 28.6 26.1 26.6 28.3 29.4 29.3 5

 6 FA316601001 Contributions for govt. social insurance 1345.4 1406.2 1444.6 1457.1 1391.6 1443.8 1486.0 1517.9 1542.1 6

 7 FA316150105 Income receipts on assets 123.3 109.9 119.8 116.5 114.1 132.4 116.3 109.5 138.7 7

 8 FA316403105 Current transfer receipts 86.3 72.5 62.9 59.5 62.7 62.6 66.6 62.8 56.7 8

 9 FA316402101 Current surplus of government enterprises -0.6 -2.6 -0.6 -0.9 -0.6 -0.2 -0.8 -1.6 -1.9 9

 10 FA316900005 Current expenditures, NIPA basis 4497.1 4761.1 6794.5 4909.2 9106.7 7206.8 5955.2 8071.4 7472.2 10

 11 FA316901001 Consumption expenditures 1039.4 1097.4 1161.4 1124.7 1187.6 1169.4 1164.1 1219.9 1208.0 11

 12 FA316404001 Government social benefits 2219.2 2348.4 3406.1 2443.0 4810.8 3503.3 2867.3 5107.4 3396.8 12

 13 FA316403001 Other current transfer payments 634.0 659.5 931.9 694.8 1447.3 792.1 793.5 837.9 1680.1 13

 14 FA316130001 Interest payments 541.8 583.5 534.2 566.4 537.3 521.5 511.7 502.5 503.8 14

 15 FA316402001 Subsidies 62.7 72.4 760.8 80.3 1123.6 1220.5 618.6 403.8 683.6 15

 16 FA316006005 Net saving, NIPA basis -928.1 -1047.5 -3110.0 -1158.0 -5625.6 -3516.3 -2140.1 -4088.9 -3341.4 16

 17 FA316300001 + Consumption of fixed capital 284.9 293.3 303.5 298.2 301.6 305.1 309.2 312.7 317.0 17

 18 FA313154015 - Insurance and pension reserves (1) -2.0 -2.2 -4.0 -4.2 -5.0 -3.6 -3.2 -1.9 -5.7 18

 19 FA315440095 - Net capital transfers paid (2) 59.6 77.8 72.6 74.7 72.7 72.4 70.8 277.2 67.8 19

 20 FA316000105 = Gross saving less net capital transfers paid -700.7 -829.7 -2875.1 -930.2 -5391.7 -3280.0 -1898.5 -4051.4 -3086.5 20

 21 FA315090005 Gross investment -676.3 -797.4 -2908.4 -1607.4 -6319.0 -1870.6 -1836.5 -4205.9 -3531.7 21

 22 FA315019001 Fixed investment 299.6 317.5 340.3 330.0 337.4 345.7 348.2 348.7 355.3 22

 23 FA315420003 Nonproduced nonfinancial assets -0.8 -2.6 -2.9 -0.3 -0.1 -11.1 -0.2 -18.3 -0.3 23

 24 FA315000005 Net lending (+) or net borrowing (-) -975.1 -1112.4 -3245.8 -1937.1 -6656.2 -2205.2 -2184.5 -4536.3 -3886.7 24

 25 FA314090005 Net acquisition of financial assets 322.1 84.2 1701.9 661.1 6188.0 166.1 -207.7 -2396.1 -1237.4 25

 26 FA313011005 U.S. official reserve assets 5.0 4.6 8.9 -1.0 19.8 7.2 9.8 -8.5 1.8 26

 27 FA313020005 Checkable deposits and currency 173.5 1.0 1326.3 642.6 4840.1 164.0 -341.5 -2274.6 -1011.5 27

 28 FA313030003 Time and savings deposits 0.1 0.3 -1.3 -1.6 0.6 -1.7 -2.7 35.5 -34.4 28

 29 FA314022005 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FA313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA313063763 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FA314023005 Loans 99.1 93.5 253.2 76.0 541.8 312.3 82.8 112.6 113.1 32

 33 FA313069005 Other loans and advances 5.0 9.9 188.1 -13.8 457.9 264.1 44.4 29.8 34.7 33

 34 FA313065005 Mortgages 3.4 0.6 3.3 6.1 5.6 -4.0 5.7 4.4 4.9 34

 35 FA313066220 Consumer credit (3) 90.7 83.0 61.7 83.7 78.4 52.2 32.7 78.5 73.5 35

 36 FA313064105 Corporate equities (4) 4.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 36

 37 FA313070000 Trade receivables 10.4 -1.9 11.3 0.8 25.1 1.8 17.7 29.4 1.3 37

 38 FA313078000 Taxes receivable 15.0 -20.3 -18.6 -67.5 300.2 -326.0 18.9 -54.7 -269.6 38

 39 FA313090005 Miscellaneous assets 15.0 7.0 122.0 11.9 460.4 8.4 7.3 -235.7 -38.1 39

 40 FA314190005 Net increase in liabilities 1297.1 1196.6 4947.6 2598.2 12844.2 2371.3 1976.8 2140.3 2649.3 40

 41 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 FA313112003 Treasury currency -0.3 -0.5 -0.0 0.0 0.0 -0.2 0.0 0.0 0.0 43

 44 FA314122005 Debt securities 1409.8 1174.9 4581.2 2682.6 12319.5 1374.7 1947.8 2122.3 2314.9 44

 45 FA313161105 Treasury securities (5) 1411.2 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 45

 46 FA313161205 Marketable 1131.6 1062.7 4317.3 2462.0 11726.3 1221.9 1858.8 2184.3 2103.5 46

 47 FA313161305 Nonmarketable 279.6 113.9 264.9 220.6 593.9 156.3 88.8 -60.5 211.3 47

 48 FA313161705 Budget agency securities -1.5 -1.7 -1.0 -0.1 -0.7 -3.5 0.2 -1.5 -0.0 48

 49 FA314123005 Loans -151.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 FA313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 FA313169003 Other loans and advances -151.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 51

 52 FA313170005 Trade payables 74.0 36.0 16.8 -36.4 -40.2 81.5 62.4 40.7 70.8 52

 53 FA313140003 Insurance reserves 0.2 0.9 0.2 -0.6 -0.0 1.4 0.0 1.1 -3.4 53

 54 FA313190005 Miscellaneous liabilities -34.9 -14.6 349.5 -47.4 564.9 913.8 -33.4 -23.9 267.0 54

 55 FA343073045 Claims of pension fund on sponsor -50.4 -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 55

 56 FA313172003 PPP subsidies payable 0.0 0.0 364.7 0.0 634.1 900.7 -75.9 51.0 383.0 56

 57 FA313190015 Other 15.5 18.3 4.4 -0.4 -2.3 5.3 15.1 -7.2 34.1 57

 58 FA317005005 Discrepancy -24.4 -32.3 33.3 677.2 927.3 -1409.4 -62.0 154.5 445.2 58

 Memo:

 59 FA314000105 Change in cash balance (6) 173.2 1.8 1324.3 557.7 4939.0 66.0 -265.5 -2319.3 -940.2 59

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

(2) Table F.5, line 64 less line 12.

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

 the government purchased from depository institutions and finance companies.

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

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

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

22 Z.1, September 23, 2021

F.107 State and Local Governments

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA216010105 Current receipts, NIPA basis 2650.6 2793.1 3096.6 2856.3 3550.7 2979.2 3000.2 3100.7 4071.0 1

 2 FA216210001 Personal current taxes 459.8 496.5 515.9 503.8 517.5 519.6 522.8 560.2 623.3 2

 3 FA216240001 Taxes on production and imports 1298.1 1357.6 1376.6 1391.3 1322.2 1392.7 1400.4 1413.9 1462.6 3

 4 FA216231001 Taxes on corporate income 60.5 72.9 71.0 66.5 61.9 76.8 78.8 85.5 90.6 4

 5 FA216601001 Contributions for govt. social insurance 20.4 20.4 19.9 20.1 19.1 19.9 20.5 21.2 21.9 5

 6 FA216150105 Income receipts on assets 94.3 96.8 96.4 96.0 96.3 96.1 97.3 97.7 98.0 6

 7 FA216403105 Current transfer receipts 725.4 759.6 1033.5 792.3 1552.5 891.7 897.7 939.9 1788.1 7

 8 FA216402101 Current surplus of government enterprises -8.0 -10.7 -16.8 -13.7 -18.9 -17.5 -17.3 -17.6 -13.5 8

 9 FA216900005 Current expenditures, NIPA basis 2846.4 2942.1 3020.5 2990.8 2997.2 3045.5 3048.4 3112.5 3207.8 9

 10 FA216901001 Consumption expenditures 1830.0 1876.5 1916.5 1934.3 1897.3 1909.9 1924.7 1966.5 2015.3 10

 11 FA216404001 Govt. social benefit payments to persons 729.7 758.7 808.3 755.9 803.8 842.2 831.1 850.0 890.5 11

 12 FA216403001 Other current transfer payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA216130001 Interest payments 286.1 306.2 295.0 300.0 295.4 292.8 291.9 293.4 293.4 13

 14 FA216402001 Subsidies 0.6 0.6 0.6 0.6 0.6 0.6 0.6 2.5 8.6 14

 15 FA216006005 Net saving, NIPA basis -195.8 -149.0 76.1 -134.6 553.6 -66.3 -48.2 -11.8 863.2 15

 16 FA216300001 + Consumption of fixed capital 280.5 293.7 302.8 299.6 300.3 304.5 306.9 312.0 320.5 16

 17 FA215440005 - Net capital transfers paid (1) -72.2 -73.9 -82.7 -78.4 -85.0 -84.5 -82.8 -81.2 -83.0 17

 18 FA216000105 = Gross saving less net capital transfers paid 156.9 218.6 461.6 243.5 938.9 322.7 341.4 381.4 1266.6 18

 19 FA215090005 Gross investment 256.3 178.3 446.9 271.2 849.3 240.2 426.8 354.9 1177.4 19

 20 FA215019001 Fixed investment 403.0 422.5 441.2 442.7 437.3 436.6 448.3 442.2 437.4 20

 21 FA215420003 Nonproduced nonfinancial assets 16.1 16.8 17.3 17.0 17.2 17.4 17.7 17.9 18.2 21

 22 FA215000005 Net lending (+) or net borrowing (-) -162.8 -260.9 -11.7 -188.5 394.7 -213.8 -39.2 -105.2 721.8 22

 23 FA214090005 Net acquisition of financial assets 68.9 33.0 378.0 91.1 802.2 267.9 350.6 314.1 1146.8 23

 24 FA213020005 Checkable deposits and currency -7.6 6.2 90.8 15.6 112.6 56.2 178.9 77.8 205.2 24

 25 FA213030000 Time and savings deposits 7.9 19.8 -9.6 54.6 18.2 12.3 -123.4 0.9 -39.0 25

 26 FA213034003 Money market fund shares -2.1 6.8 7.9 23.3 11.9 -4.0 0.5 5.2 1.2 26

 27 FA212051003 Security repurchase agreements 1.1 -1.3 19.3 -8.7 51.5 18.5 15.9 25.0 25.5 27

 28 FA214022005 Debt securities 8.9 48.2 224.8 80.9 551.4 49.8 217.3 146.9 858.3 28

 29 FA213069103 Open market paper 0.5 -0.6 1.7 -4.1 -5.6 8.8 7.5 15.7 23.8 29

 30 FA213061105 Treasury securities -12.4 51.4 291.3 41.7 728.8 138.7 256.1 227.3 830.6 30

 31 FA213061703 Agency- and GSE-backed securities 5.6 2.4 -71.4 12.3 -199.8 -48.7 -49.4 -94.6 -32.8 31

 32 FA213062003 Municipal securities 0.5 -0.9 1.5 0.1 3.9 1.4 0.5 4.1 2.1 32

 33 FA213063003 Corporate and foreign bonds 14.6 -4.1 1.8 30.9 24.0 -50.3 2.5 -5.7 34.6 33

 34 FA213065005 Loans (mortgages) 2.1 -1.9 5.3 -13.6 12.9 13.0 8.9 7.6 4.1 34

 35 FA213064103 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 35

 36 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 36

 37 FA213070003 Trade receivables 22.8 19.1 14.3 -20.1 -25.2 62.8 39.9 23.3 38.3 37

 38 FA213078005 Taxes receivable 19.7 9.6 13.1 17.5 23.0 10.7 1.2 15.5 -0.8 38

 39 FA213093003 Miscellaneous assets 18.3 -71.2 14.1 -56.2 48.3 50.9 13.5 14.1 56.0 39

 40 FA214190005 Net increase in liabilities 231.7 293.9 389.6 279.5 407.5 481.7 389.8 419.3 425.0 40

 41 FA213162005 Debt securities (municipal securities) -40.5 -2.9 88.6 27.5 107.2 171.5 48.4 112.1 101.0 41

 42 FA213162400 Short-term (2) 2.9 6.8 1.9 -6.0 8.7 4.7 0.1 -12.1 -11.6 42

 43 FA213162200 Long-term -43.4 -9.7 86.8 33.5 98.4 166.8 48.3 124.2 112.7 43

 44 FA213169203 Loans (U.S. government loans) 1.1 1.0 1.0 0.4 0.7 1.8 1.1 0.7 0.0 44

 45 FA213170003 Trade payables 47.3 48.6 48.4 49.1 46.8 48.2 49.5 50.9 51.9 45

 46 FA223073045 Claims of pension fund on sponsor (3) 223.9 247.2 251.6 202.5 252.9 260.3 290.7 255.7 272.1 46

 47 FA217005005 Discrepancy -99.4 40.2 14.8 -27.7 89.6 82.5 -85.3 26.5 89.2 47

(1) Table F.5, line 65.

(2) Debt with original maturity of 13 months or less.

(3) Included in miscellaneous liabilities.
Transactions

Z.1, September 23, 2021 23

F.108 Domestic Financial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA796000105 Gross saving less net capital transfers paid 321.8 446.3 383.7 430.9 355.0 339.8 409.2 433.7 484.0 1

 2 FA795090005 Gross investment 434.9 399.4 369.9 190.3 374.9 646.5 267.7 1170.9 662.3 2

 3 FA795019005 Capital expenditures 283.3 318.5 297.5 311.1 264.5 301.3 313.2 319.7 333.9 3

 4 FA125012063 Fixed residential investment 3.5 7.1 3.0 5.9 -0.7 2.8 3.8 1.9 11.2 4

 5 FA795013005 Fixed nonresidential investment 279.8 311.4 294.6 305.1 265.2 298.5 309.4 317.8 322.8 5

 6 FA795000005 Net lending (+) or net borrowing (-) 151.6 80.9 72.3 -120.8 110.4 345.3 -45.6 851.2 328.4 6

 7 FA794090005 Net acqisition of financial assets 1649.2 3357.8 9625.7 20991.8 10099.6 1574.6 5836.7 9152.6 6063.2 7

 8 FA713011005 U.S. official reserve assets 0.0 0.1 0.0 0.1 0.1 0.1 -0.0 0.1 0.1 8

 9 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA713012003 Treasury currency 0.4 0.3 0.4 0.4 0.3 0.5 0.3 0.3 0.7 10

 11 FA633091003 Foreign deposits -2.2 5.8 -6.7 -14.5 -6.6 -4.9 -0.7 5.8 -7.6 11

 12 FA794010005 Net interbank assets -388.1 -5.6 1506.5 4102.3 1246.5 -243.2 920.3 2720.9 -666.9 12

 13 FA793020005 Checkable deposits and currency -92.6 81.2 224.7 1234.9 -562.7 -345.1 571.6 166.4 -359.1 13

 14 FA793030005 Time and savings deposits -5.2 56.6 6.3 108.8 305.3 -240.8 -148.4 -164.2 -174.4 14

 15 FA793034005 Money market fund shares 22.2 65.0 225.3 619.3 332.1 -53.0 2.6 161.6 89.2 15

 16 FA792050005 Federal funds and security repos 435.0 596.0 -303.6 1466.7 -3013.1 -27.8 359.9 -1198.8 1831.9 16

 17 FA794022005 Debt securities 974.4 1132.2 6338.7 5871.6 13226.1 3384.8 2872.4 5104.7 2532.9 17

 18 FA793069175 Open market paper 1.3 -10.9 -52.8 -59.4 -350.4 -11.1 209.8 68.5 -194.1 18

 19 FA793061105 Treasury securities 715.1 719.3 4480.8 4326.7 11226.9 1256.9 1112.7 2097.1 1335.9 19

 20 FA793061705 Agency- and GSE-backed securities -19.7 133.2 1117.2 1181.7 1231.9 1013.2 1042.2 1287.1 679.7 20

 21 FA793062005 Municipal securities -47.6 68.6 110.3 39.7 118.0 182.9 100.7 214.6 172.4 21

 22 FA793063005 Corporate and foreign bonds 325.3 222.0 683.1 382.8 999.7 943.0 407.0 1437.4 539.0 22

 23 FA794023005 Loans 763.0 799.7 1036.2 4234.7 -1007.3 86.9 830.4 1614.0 1277.8 23

 24 FA793068005 Depository institution loans n.e.c. 289.2 139.3 412.9 2606.3 121.9 -798.0 -278.6 110.4 -225.2 24

 25 FA793069005 Other loans and advances -188.4 -43.0 -36.2 988.7 -1385.3 -14.4 266.5 557.1 -12.5 25

 26 FA793065005 Mortgages 576.6 596.6 729.9 684.3 556.1 852.9 826.3 862.1 1213.4 26

 27 FA793066005 Consumer credit 85.6 106.8 -70.5 -44.6 -300.0 46.4 16.2 84.4 302.2 27

 28 FA793064105 Corporate equities -136.2 -275.3 -370.4 -98.6 -417.4 -470.2 -495.3 487.3 184.1 28

 29 FA793064205 Mutual fund shares -103.4 -66.4 -187.6 -366.2 -124.7 -206.4 -53.2 -275.5 -285.0 29

 30 FA793070005 Trade receivables 18.5 13.8 40.7 62.7 70.1 55.8 -25.7 25.5 41.4 30

 31 FA793040005 Life insurance reserves -28.3 17.4 15.7 12.5 16.4 15.8 17.8 3.9 36.4 31

 32 FA543050005 Pension entitlements 100.1 7.7 91.4 82.3 116.0 76.6 90.8 4.1 18.9 32

 33 FA793092005 U.S. direct investment abroad 5.5 38.0 38.3 95.4 29.7 31.4 -3.1 69.7 52.2 33

 34 FA793090005 Miscellaneous assets 86.0 891.2 969.8 3579.4 -111.3 -485.9 896.9 426.9 1490.5 34

 35 FA794194005 Net increase in liabilities and equity 1497.6 3276.9 9553.3 21112.6 9989.1 1229.3 5882.2 8301.4 5734.8 35

 36 FA794190005 Net increase in liabilities 1211.5 3014.9 9030.4 20776.8 9360.2 753.3 5231.2 7251.9 4720.4 36

 37 FA794110005 Net interbank liabilities -354.0 -99.0 1546.2 5773.1 195.9 -424.8 640.6 2716.1 -1174.6 37

 38 FA793120005 Checkable deposits and currency 315.4 272.2 4272.7 3798.2 7891.1 965.7 4435.6 -278.0 699.7 38

 39 FA703130005 Time and savings deposits 530.0 684.1 795.2 2325.2 3098.4 59.0 -2302.1 1951.0 -374.7 39

 40 FA634090005 Money market fund shares 189.9 596.0 701.3 3093.7 1300.9 -1054.3 -535.2 927.6 254.2 40

 41 FA792150005 Federal funds and security repos 15.4 224.8 -259.0 1074.4 -2428.1 124.3 193.1 -218.4 3384.6 41

 42 FA794122005 Debt securities 324.0 399.2 903.5 2583.0 -230.8 235.6 1026.2 870.9 1039.0 42

 43 FA793169175 Open market paper 33.9 -33.2 -7.0 31.4 -96.7 -29.9 67.0 193.5 -137.5 43

 44 FA423161705 Agency- and GSE-backed securities 246.9 318.6 658.2 1505.6 -221.8 536.3 812.7 699.6 600.9 44

 45 FA793163005 Corporate and foreign bonds 43.2 113.8 252.3 1046.0 87.7 -270.8 146.4 -22.3 575.6 45

 46 FA794123005 Loans -10.7 -69.0 -31.1 1798.7 -1509.6 -425.4 11.8 131.1 14.3 46

 47 FA793168005 Depository institution loans n.e.c. 9.8 -5.9 75.6 434.7 -266.8 -21.3 155.9 11.8 216.3 47

 48 FA793169005 Other loans and advances -4.7 -64.9 -107.9 1360.9 -1234.4 -412.0 -146.0 141.7 -199.8 48

 49 FA123165005 Mortgages -15.8 1.9 1.1 3.1 -8.4 7.9 1.9 -22.3 -2.2 49

 50 FA653164205 Mutual fund shares -63.4 208.0 -226.8 -1223.7 61.4 106.2 149.0 363.1 167.5 50

 51 FA793170005 Trade payables -4.2 15.0 101.9 101.2 128.0 110.9 67.7 14.6 1.2 51

 52 FA543140005 Life insurance reserves 43.3 31.7 85.0 188.6 -4.5 72.0 83.9 -75.9 63.2 52

 53 FA583150005 Pension entitlements 336.2 442.6 510.7 501.1 483.0 497.2 561.7 217.6 320.9 53

 54 FA793178005 Taxes payable -0.7 12.9 -8.2 -40.3 24.5 -26.7 9.8 -50.5 -33.6 54

 55 FA793192305 Foreign direct investment: intercompany debt -34.3 -19.0 8.4 -11.7 5.5 -1.3 41.1 15.9 8.2 55

 56 FA793190005 Miscellaneous liabilities -75.4 315.3 630.6 815.4 344.3 515.0 847.9 666.8 350.6 56

 57 FA793181125 Net equity issues 286.1 262.0 522.9 335.8 628.9 476.1 651.0 1049.5 1014.4 57

 58 FA793164105 Corporate equities 198.5 209.7 499.2 280.9 627.5 465.5 622.8 1050.2 1007.8 58

 59 FA662090003 Equity in noncorporate business 9.5 5.2 6.9 5.3 14.6 -5.5 13.0 13.8 16.8 59

 60 FA793192105 Foreign direct investment: equity 78.1 47.1 16.9 49.6 -13.1 16.1 15.2 -14.5 -10.2 60

 61 FA797005005 Discrepancy -113.1 46.8 13.9 240.6 -20.0 -306.8 141.6 -737.2 -178.4 61

(1) Sum of financial sectors shown on tables F.109 through F.132.
Transactions

24 Z.1, September 23, 2021

F.109 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA716000105 Gross saving 2.5 9.3 2.7 9.0 0.4 -2.0 3.2 -2.7 -2.6 1

 2 FA715013005 Fixed nonresidential investment 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 2

 3 FA714090005 Net acquisition of financial assets -389.8 116.4 3083.6 6279.0 4644.8 194.9 1215.9 1555.2 1593.7 3

 4 FA713011005 U.S. official reserve assets 0.0 0.1 0.0 0.1 0.1 0.1 -0.0 0.1 0.1 4

 5 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA713012003 Treasury currency 0.4 0.3 0.4 0.4 0.3 0.5 0.3 0.3 0.7 6

 7 FA713022003 Federal Reserve float 0.2 0.1 0.1 -0.0 -0.3 -2.4 3.0 -1.9 -0.0 7

 8 FA713068705 Interbank loans -0.1 -0.0 44.5 306.4 27.3 -67.3 -88.2 -12.8 1.8 8

 9 FA713068703 Discount window (2) -0.1 -0.0 1.6 196.2 -167.6 -14.9 -7.5 -3.1 -1.3 9

 10 FA763069143 AMLF and MMLF loans (3) 0.0 0.0 2.0 110.2 -63.2 -31.4 -7.6 -7.5 -0.4 10

 11 FA713068725 PPPLF loans (4) 0.0 0.0 41.0 0.0 258.1 -21.1 -73.1 -2.2 3.6 11

 12 FA712051000 Security repurchase agreements 0.0 255.6 -255.6 28.4 -819.1 -231.8 0.0 0.0 0.0 12

 13 FA714022005 Debt securities -379.5 -137.5 3217.0 4281.5 6046.3 1304.3 1235.7 1610.4 1486.6 13

 14 FA713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA713061103 Treasury securities -243.3 99.1 2554.3 4077.9 4137.3 1000.5 1001.4 1017.8 958.9 15

 16 FA713061113 Treasury bills 0.0 168.5 157.5 625.5 2.8 1.2 0.5 0.2 0.1 16

 17 FA713061125 Other Treasury securities -243.3 -69.3 2396.8 3452.4 4134.5 999.3 1000.9 1017.6 958.8 17

 18 FA713061705 Agency- and GSE-backed securities -136.2 -236.6 662.7 203.7 1909.0 303.8 234.4 592.6 527.6 18

 19 FA713061903 Mortgage-backed securities -134.2 -236.5 662.7 203.7 1909.0 303.8 234.4 592.6 527.7 19

 20 FA713061703 Other agency- and GSE-baked securities -2.0 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 20

 21 FA713068005 Loans (depository institution loans n.e.c.) 0.0 0.0 52.2 234.9 -111.1 3.0 82.1 26.0 109.8 21

 22 FA713068813 Households (TALF I) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA713068665 Brokers and dealers (6) 0.0 0.0 2.1 234.9 -186.4 -34.7 -5.2 -8.0 -0.5 23

 24 FA713068863 Finance companies (PPPLF) (4) 0.0 0.0 9.4 0.0 14.8 18.5 4.5 41.0 118.4 24

 25 FA713068505 Other financial business (7) 0.0 0.0 40.7 0.0 60.6 19.3 82.8 -7.0 -8.2 25

 26 FA713064103 Corporate equities (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA713090005 Miscellaneous assets -10.8 -2.2 25.0 1427.3 -498.7 -811.4 -17.0 -66.9 -5.2 27

 28 FA713091103 Nonofficial foreign currencies (9) -7.9 -0.5 14.2 1415.8 -523.2 -812.0 -24.0 -61.5 -7.8 28

 29 FA713093005 Other -3.0 -1.7 10.9 11.5 24.4 0.5 7.0 -5.4 2.5 29

 30 FA714190005 Net increase in liabilities -386.6 116.4 3083.7 6279.0 4644.8 194.8 1216.0 1554.1 1593.7 30

 31 FA713113003 Depository institution reserves -393.1 -7.1 1446.1 3701.7 1251.0 -175.2 1006.7 2711.1 -644.3 31

 32 FA703025005 Vault cash of depository institutions 4.9 1.4 15.8 94.2 -31.5 1.7 -1.3 24.6 -24.4 32

 33 FA713120005 Checkable deposits and currency 259.5 89.6 1738.4 1659.6 4914.8 333.1 46.2 -1615.5 -1202.1 33

 34 FA713123005 Due to federal government 173.2 1.7 1324.6 559.5 4937.5 65.7 -264.3 -2353.3 -913.9 34

 35 FA713123023 Treasury cash holdings 0.0 -0.0 -0.1 0.6 -1.0 -0.2 0.0 0.2 -0.2 35

 36 FA713123030 Treasury general deposit account 173.2 1.7 1324.7 558.9 4938.5 65.8 -264.3 -2353.5 -913.7 36

 37 FA713123043 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 FA713124005 Due to government-sponsored enterprises -6.8 2.1 38.5 430.0 -312.2 -65.8 102.0 332.2 -421.8 38

 39 FA713129005 Due to other financial business (10) -3.3 -1.1 93.0 396.8 -107.1 48.9 33.4 126.2 61.3 39

 40 FA713122605 Due to rest of the world -0.0 -0.1 16.7 48.9 -4.7 10.8 11.7 45.5 -111.8 40

 41 FA713125005 Currency outside banks 96.4 87.0 265.7 224.5 401.3 273.5 163.5 234.0 184.1 41

 42 FA712151003 Security repurchase agreements -259.9 32.6 -120.6 929.7 -1344.5 -110.9 43.3 544.5 3635.0 42

 43 FA712151103 Reverse repurchase agreement operations (11) -277.7 22.2 -54.4 883.3 -1135.8 -0.4 35.2 498.6 3430.5 43

 44 FA712151115 Other (12) 17.8 10.4 -66.2 46.4 -208.7 -110.5 8.1 45.9 204.5 44

 45 FA713190005 Miscellaneous liabilities 2.0 -0.1 4.0 -106.4 -145.0 146.2 121.0 -110.6 -170.6 45

 46 FA313094213 Treasury contributions to MMLF 0.0 0.0 1.5 0.0 6.0 0.0 0.0 0.0 -6.0 46

 47 FA713164003 Federal Reserve Bank stock 0.9 -0.6 0.7 1.1 0.2 1.5 -0.1 0.4 1.4 47

 48 FA713193005 Other 1.1 0.5 1.8 -107.4 -151.2 144.7 121.1 -111.0 -166.0 48

 49 FA717005005 Discrepancy 5.0 8.6 2.0 8.3 -0.3 -2.7 2.6 -4.5 -3.4 49

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(3) Loans extended to U.S.-chartered depository institutions through the 2008-2010 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) and the

 2020 Money Market Mutual Fund Liquidity Facility (MMLF). The AMLF was dissolved in 2010:Q1.

(4) Loans extended to depository institutions (line 11) and finance companies (line 24) through the Paycheck Protection Program Liquidity Facility (PPPLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the 2008 Term Asset-Backed Securities Loan Facility (TALF I).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF), AMLF (2008-2010), and MMLF (2020).

(7) Loans extended to Federal Reserve funding, credit, and liquidity facility special purpose vehicles created in response to the 2008 Financial Crisis and COVID-19 pandemic.

(8) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assuance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. Series is zero after 2010:Q4.

(9) Reciprocal currency arrangements (swap lines) with foreign central banks.

(10) Deposits of designated financial market utilities (DFMU) and deposits of Federal Reserve facility LLC’s special purpose vehicles.

(11) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(12) Includes reverse repurchase agreements conducted through the Federal Reserve’s Foreign Repo Pool.
Transactions

Z.1, September 23, 2021 25

F.110 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA706000105 Gross saving less net capital transfers paid 32.8 -57.4 46.5 16.2 73.8 82.9 13.2 61.0 97.7 1

 2 FA705013005 Fixed nonresidential investment 56.8 79.9 82.7 89.2 63.3 87.2 91.1 91.5 90.1 2

 3 FA705000005 Net lending (+) or net borrowing (-) -159.7 -101.4 53.7 -348.2 121.9 506.8 -65.7 332.3 33.6 3

 4 FA704090005 Net acquisition of financial assets 417.5 765.6 3217.9 7315.5 3364.8 578.5 1612.7 4050.2 747.5 4

 5 FA703025005 Vault cash 4.9 1.4 15.8 94.2 -31.5 1.7 -1.3 24.6 -24.4 5

 6 FA713113003 Reserves at Federal Reserve -393.1 -7.1 1446.1 3701.7 1251.0 -175.2 1006.7 2711.1 -644.3 6

 7 FA702050005 Federal funds and security repos 211.3 36.3 124.2 -316.4 816.0 -112.8 109.8 -1181.7 38.1 7

 8 FA704022005 Debt securities 98.7 237.2 1085.8 757.6 1300.6 1171.6 1113.4 2140.7 988.7 8

 9 FA703069175 Open market paper 0.2 0.5 1.6 112.0 -65.1 -33.0 -7.5 -8.2 -0.8 9

 10 FA703061105 Treasury securities 124.3 126.7 302.9 -4.1 893.2 274.6 47.8 383.8 383.9 10

 11 FA703061705 Agency- and GSE-backed securities 52.4 115.1 694.0 482.8 374.2 759.0 1159.8 1184.3 433.4 11

 12 FA703062005 Municipal securities -40.0 -29.1 72.2 131.3 53.9 53.6 50.0 75.9 58.8 12

 13 FA703063005 Corporate and foreign bonds -38.2 23.9 15.1 35.6 44.3 117.4 -136.7 504.9 113.4 13

 14 FA704023005 Loans 563.9 459.9 365.8 2604.9 -4.0 -687.8 -449.8 28.7 84.8 14

 15 FA703068005 Depository institution loans n.e.c. 289.2 139.3 360.7 2371.5 233.0 -801.0 -360.6 84.4 -335.0 15

 16 FA703069005 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA703065005 Mortgages 170.3 214.7 88.0 256.6 84.1 108.6 -97.2 -89.5 156.1 17

 18 FA703066005 Consumer credit 104.4 105.9 -82.9 -23.2 -321.0 4.5 8.0 33.8 263.7 18

 19 FA703064105 Corporate equities 2.5 0.8 3.0 4.6 1.4 2.3 3.6 4.0 3.8 19

 20 FA703064205 Mutual fund shares -5.5 -1.8 0.1 1.8 -2.7 0.1 1.3 4.5 2.0 20

 21 FA763040005 Life insurance reserves 3.9 6.7 6.1 3.6 5.3 7.1 8.2 8.3 18.7 21

 22 FA763092000 U.S. direct investment abroad 1.1 7.2 2.1 3.4 10.8 3.1 -8.7 -1.9 20.1 22

 23 FA703090005 Miscellaneous assets -70.2 25.0 169.0 460.2 17.9 368.6 -170.6 311.9 259.9 23

 24 FA704194005 Net increase in liabilities and equity 577.2 867.0 3164.2 7663.7 3242.9 71.7 1678.4 3717.9 713.9 24

 25 FA704190005 Net increase in liabilities 569.6 862.7 3154.7 7671.5 3237.8 55.8 1653.8 3720.0 737.4 25

 26 FA704110005 Net interbank liabilities 34.1 -93.3 84.4 1977.1 -1023.5 -251.3 -364.8 -19.5 -505.9 26

 27 FA703127005 Checkable deposits 55.9 182.6 2534.2 2138.5 2976.4 632.6 4389.4 1337.4 1901.8 27

 28 FA703130005 Time and savings deposits 530.0 684.1 795.2 2325.2 3098.4 59.0 -2302.1 1951.0 -374.7 28

 29 FA702150005 Federal funds and security repos -76.2 70.3 -1.2 347.5 -405.7 125.4 -71.9 65.4 -127.9 29

 30 FA704122005 Debt securities 27.0 -40.0 55.7 143.4 6.0 8.1 65.3 58.0 -5.5 30

 31 FA703169175 Open market paper 14.7 -21.4 26.6 96.9 -13.3 -8.5 31.0 40.6 -1.4 31

 32 FA763163005 Corporate bonds 12.3 -18.7 29.2 46.5 19.3 16.6 34.3 17.3 -4.1 32

 33 FA703169005 Loans (other loans and advances) -6.3 -97.8 -241.6 709.5 -1144.1 -279.0 -252.9 32.7 -247.2 33

 34 FA763178003 Taxes payable (net) 5.4 14.5 -11.2 -66.6 9.5 9.6 2.7 -67.0 -7.6 34

 35 FA753192305 Foreign direct investment: intercompany debt -4.3 -2.2 -1.6 -3.7 -2.0 -1.1 0.6 -0.4 -6.3 35

 36 FA703190005 Miscellaneous liabilities 3.9 144.4 -59.2 100.6 -277.2 -247.6 187.5 362.5 110.8 36

 37 FA763194735 Investment by holding companies 13.5 93.6 72.7 -145.8 112.1 110.7 213.6 56.7 265.2 37

 38 FA753194503 Investment by other financial businesses 43.4 -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 38

 39 FA703193005 Other -53.0 54.3 -104.3 235.0 -345.6 -316.6 10.1 136.6 -84.6 39

 40 FA703181125 Net equity issues 7.6 4.4 9.5 -7.8 5.0 16.0 24.7 -2.1 -23.5 40

 41 FA763164103 Corporate equities -5.2 1.4 1.9 -9.5 3.0 4.9 9.1 -1.4 6.4 41

 42 FA753192103 Foreign direct investment: equity 12.8 3.0 7.6 1.7 2.1 11.0 15.5 -0.7 -29.9 42

 43 FA707005005 Discrepancy 135.7 -35.8 -89.9 275.2 -111.4 -511.1 -12.2 -362.8 -26.1 43

 Memo:

 44 FA763066303 Consumer leases not included above (2) 1.2 0.8 0.3 0.9 -0.4 0.9 -0.1 -0.4 0.6 44

 45 FA703139105 Uninsured deposits (3) 201.5 529.0 1760.9 3000.0 2334.8 263.9 1445.1 1335.3 997.8 45

(1) U.S.-chartered depository institutions (F.111), foreign banking offices (F.112), banks in U.S.-affiliated areas (F.113), and credit unions (F.114).

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation is included in line 1, and fixed investment is included in line 2.

(3) Includes checkable deposits (line 27) and time and savings deposits (line 28) not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
Transactions

26 Z.1, September 23, 2021

F.111 U.S.-Chartered Depository Institutions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA766000105 Gross saving less net capital transfers paid 9.2 -82.3 21.5 -8.9 49.2 58.1 -12.2 35.5 71.7 1

 2 FA765013005 Fixed nonresidential investment 42.5 61.1 62.3 68.2 43.8 66.9 70.3 70.0 68.0 2

 3 FA764090005 Net acquisition of financial assets 349.2 634.6 2926.3 5157.5 4280.5 565.7 1701.4 3086.4 575.8 3

 4 FA763025000 Vault cash 4.9 1.4 15.8 94.2 -31.5 1.7 -1.3 24.6 -24.4 4

 5 FA763013005 Reserves at Federal Reserve -273.5 18.9 1282.4 2276.5 1962.5 -196.3 1087.0 1718.0 -579.0 5

 6 FA762050005 Federal funds and security repos 160.3 -24.3 179.8 -108.9 916.1 -248.8 160.8 -975.8 23.2 6

 7 FA764022005 Debt securities 76.4 243.0 1003.5 645.1 1225.2 1108.4 1035.2 1898.7 987.0 7

 8 FA763069175 Open market paper 0.0 0.0 2.0 110.2 -63.2 -31.4 -7.6 -7.5 -0.4 8

 9 FA763061100 Treasury securities 87.3 125.6 327.5 75.5 859.7 306.1 68.7 406.6 355.5 9

 10 FA763061705 Agency- and GSE-backed securities 66.8 102.7 603.1 466.5 243.1 652.6 1050.3 939.5 439.8 10

 11 FA763061803 Residential mortgage pass-through securities 31.2 90.8 381.9 377.8 52.6 415.0 682.0 725.6 319.6 11

 12 FA763061503 Commercial mortgage pass-through securities 20.6 20.9 46.8 25.4 45.8 40.1 75.9 48.2 38.4 12

 13 FA763061603 Residential CMOs and other structured MBS 7.5 1.8 113.3 47.0 116.0 90.5 199.8 51.6 0.8 13

 14 FA763061403 Commercial CMOs and other structured MBS 15.3 20.3 54.4 58.2 39.9 70.1 49.4 61.5 44.1 14

 15 FA763061795 Other -7.8 -31.1 6.7 -42.0 -11.3 36.9 43.2 52.5 36.9 15

 16 FA763062000 Municipal securities -39.8 -29.5 68.9 127.7 50.2 49.4 48.3 72.3 56.8 16

 17 FA763063005 Corporate and foreign bonds -37.9 44.2 1.9 -134.8 135.4 131.7 -124.5 487.8 135.3 17

 18 FA763063673 Private residential mortgage pass-through securities -1.3 1.6 -0.7 1.1 -0.4 -1.8 -1.7 3.6 -0.1 18

 19 FA763063653 Private commercial mortgage pass-through securities -1.0 0.6 0.2 0.0 0.2 0.5 0.1 0.5 0.1 19

 20 FA763063663 Private residential CMOs and other structured MBS -6.3 1.9 4.7 13.0 9.1 -0.2 -3.0 7.4 5.9 20

 21 FA763063693 Private commercial CMOs and other structured MBS 3.3 2.3 -0.4 8.4 -2.0 -6.8 -1.2 8.8 14.5 21

 22 FA763063095 Other -32.7 37.9 -1.9 -157.2 128.5 140.0 -118.8 467.5 114.9 22

 23 FA764023005 Loans 438.1 359.6 286.7 1881.3 161.5 -509.0 -387.1 50.4 -8.3 23

 24 FA763068005 Depository institution loans n.e.c. 253.4 98.7 335.2 1734.9 454.3 -564.6 -283.8 139.0 -293.1 24

 25 FA763069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FA763065005 Mortgages 122.2 171.8 41.5 177.5 30.6 66.1 -108.3 -111.2 77.0 26

 27 FA763066000 Consumer credit 62.5 89.0 -90.0 -31.2 -323.4 -10.4 5.0 22.6 207.9 27

 28 FA763064105 Corporate equities 2.5 0.8 3.0 4.6 1.4 2.3 3.6 4.0 3.8 28

 29 FA763064203 Mutual fund shares -5.9 -2.1 -0.8 0.1 -2.9 -0.2 -0.1 0.0 0.0 29

 30 FA763040005 Life insurance reserves 3.9 6.7 6.1 3.6 5.3 7.1 8.2 8.3 18.7 30

 31 FA763092000 U.S. direct investment abroad 1.1 7.2 2.1 3.4 10.8 3.1 -8.7 -1.9 20.1 31

 32 FA763090005 Miscellaneous assets -58.6 23.4 147.8 357.7 32.2 397.4 -196.3 360.0 134.5 32

 33 FA764194005 Net increase in liabilities and equity 464.8 727.6 2806.8 5503.0 3917.1 135.4 1671.6 2703.3 906.4 33

 34 FA764190005 Net increase in liabilities 470.0 726.2 2804.9 5512.5 3914.2 130.5 1662.5 2704.7 899.9 34

 35 FA764110005 Net interbank liabilities -31.1 -13.8 1.1 489.1 -100.7 -24.7 -359.3 -156.5 -252.5 35

 36 FA713022003 Federal Reserve float 0.2 0.1 0.1 -0.0 -0.3 -2.4 3.0 -1.9 -0.0 36

 37 FA713068715 Borrowing from Federal Reserve banks -0.1 -0.0 44.1 306.4 25.3 -67.3 -87.8 -12.1 2.1 37

 38 FA764112005 To domestic banking -9.2 -0.9 3.6 195.2 -290.0 131.4 -22.4 311.3 -384.6 38

 39 FA764116005 To foreign banks -21.9 -13.1 -46.7 -12.5 164.3 -86.3 -252.2 -453.7 130.1 39

 40 FA763127005 Checkable deposits 38.3 137.8 2381.3 1851.8 2788.7 552.3 4332.4 943.6 1933.0 40

 41 FA763123005 Federal government -0.1 -0.1 1.1 -0.2 0.9 2.0 1.5 -1.4 8.1 41

 42 FA763128000 State and local government -7.6 6.2 90.8 15.6 112.6 56.2 178.9 77.8 205.2 42

 43 FA763129205 Private domestic 31.1 127.2 2307.0 1788.1 2757.0 524.5 4158.4 878.7 1655.5 43

 44 FA763122605 Rest of the world 15.0 4.6 -17.6 48.2 -81.8 -30.4 -6.3 -11.4 64.2 44

 45 FA763130005 Time and savings deposits 491.9 511.5 655.7 2474.9 2489.4 30.2 -2371.6 1621.5 -464.0 45

 46 FA762150005 Federal funds and security repos -27.3 23.9 3.9 96.4 -2.5 -45.8 -32.6 66.3 -177.4 46

 47 FA764122005 Debt securities 24.2 -37.8 58.8 93.0 37.2 36.8 68.1 40.7 -9.2 47

 48 FA763169175 Open market paper 12.0 -19.1 29.6 46.5 18.0 20.2 33.9 23.4 -5.2 48

 49 FA763163005 Corporate bonds 12.3 -18.7 29.2 46.5 19.3 16.6 34.3 17.3 -4.1 49

 50 FA763169305 Loans (other loans and advances) -9.2 -92.3 -232.6 667.1 -1094.8 -267.8 -234.9 44.6 -242.7 50

 51 FA763178003 Taxes payable (net) 5.4 14.5 -11.2 -66.6 9.5 9.6 2.7 -67.0 -7.6 51

 52 FA763190005 Miscellaneous liabilities -22.2 182.4 -52.1 -93.0 -212.7 -160.2 257.6 211.6 120.3 52

 53 FA763194735 Investment by holding companies 13.5 93.6 72.7 -145.8 112.1 110.7 213.6 56.7 265.2 53

 54 FA763193005 Other -35.7 88.7 -124.7 52.8 -324.7 -270.9 44.0 154.8 -144.9 54

 55 FA763164103 Net equity issues (corporate equities) -5.2 1.4 1.9 -9.5 3.0 4.9 9.1 -1.4 6.4 55

 56 FA767005005 Discrepancy 82.4 -50.4 -160.2 268.4 -357.9 -439.1 -112.3 -417.5 334.2 56

 Memo:

 57 FA763066303 Consumer leases not included above (1) 1.2 0.8 0.3 0.9 -0.4 0.9 -0.1 -0.4 0.6 57

 58 FA763139105 Uninsured deposits (2) 199.5 398.9 1718.5 2977.9 2021.5 320.5 1554.1 948.6 1013.8 58

(1) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation is included in line 1, and fixed investment is included in line 2.

(2) Includes checkable deposits (line 40) and time and savings deposits (line 45) not insured by the Federal Deposit Insurance Corporation.
Transactions

Z.1, September 23, 2021 27

F.112 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA756330005 Gross saving 4.3 5.4 6.8 6.6 6.7 6.8 6.9 7.0 7.2 1

 2 FA755013005 Fixed nonresidential investment 5.8 8.9 9.8 10.1 9.4 9.7 10.0 10.3 10.6 2

 3 FA754090005 Net acquisition of financial assets -14.5 21.2 -8.1 1899.6 -1419.7 -158.2 -354.2 419.0 128.6 3

 4 FA753025003 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 4

 5 FA753013003 Reserves at Federal Reserve -111.4 -44.5 48.3 1278.9 -916.8 19.8 -188.5 767.5 19.2 5

 6 FA752050005 Federal funds and security repos 50.9 60.0 -55.4 -207.4 -99.9 135.8 -49.9 -205.7 15.8 6

 7 FA754022005 Debt securities 26.4 -30.1 -12.6 104.5 -74.6 -55.0 -25.4 -52.5 -1.7 7

 8 FA753069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA753061103 Treasury securities 29.4 -9.9 -27.3 -58.7 6.4 -28.5 -28.5 -63.4 17.6 9

 10 FA753061703 Agency- and GSE-backed securities -2.5 8.9 7.9 17.3 4.4 -10.7 20.5 6.6 -11.6 10

 11 FA753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA753063005 Corporate and foreign bonds -0.6 -29.1 6.8 145.9 -85.4 -15.9 -17.4 4.3 -7.7 12

 13 FA754023005 Loans 40.1 28.3 17.8 634.8 -252.5 -237.5 -73.5 -70.0 11.8 13

 14 FA753068005 Depository institution loans n.e.c. 32.1 25.5 17.3 626.1 -250.1 -235.6 -71.3 -67.6 7.6 14

 15 FA753069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA753065005 Mortgages 8.1 2.8 0.5 8.7 -2.4 -2.0 -2.2 -2.4 4.2 16

 17 FA753064103 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA753093005 Miscellaneous assets -20.4 7.5 -6.3 88.8 -75.8 -21.2 -16.9 -20.3 83.4 18

 19 FA754194005 Net increase in liabilities and equity 41.7 38.2 72.1 1893.6 -1154.1 -213.1 -238.2 501.4 -238.7 19

 20 FA754190005 Net increase in liabilities 28.9 35.2 64.5 1891.9 -1156.1 -224.2 -253.7 502.1 -208.7 20

 21 FA754110005 Net interbank liabilities 61.5 -78.5 79.2 1421.5 -898.1 -199.8 -7.0 22.3 -178.7 21

 22 FA754116005 To foreign banks 70.8 -70.2 76.0 1411.7 -907.1 -177.2 -23.4 -3.1 -154.4 22

 23 FA754112005 To domestic banks -9.3 -8.3 3.2 9.8 9.0 -22.7 16.5 25.4 -24.4 23

 24 FA753127005 Checkable deposits -7.2 21.6 57.0 208.2 18.7 38.7 -37.8 199.7 -41.0 24

 25 FA753130005 Time and savings deposits -2.0 89.0 -50.8 -198.1 232.7 -134.7 -103.0 139.6 -28.5 25

 26 FA752150005 Federal funds and security repos -48.9 46.4 -5.1 251.1 -403.2 171.2 -39.4 -0.9 49.5 26

 27 FA753169175 Debt securities (open market paper) 2.7 -2.3 -3.1 50.5 -31.2 -28.6 -2.8 17.3 3.7 27

 28 FA753192305 Foreign direct investment: intercompany debt -4.3 -2.2 -1.6 -3.7 -2.0 -1.1 0.6 -0.4 -6.3 28

 29 FA753190005 Miscellaneous liabilities 27.0 -38.9 -11.2 162.5 -73.0 -69.8 -64.3 124.7 -7.5 29

 30 FA753194503 Investment by other financial businesses 43.4 -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 30

 31 FA753193005 Other -16.4 -35.4 16.4 151.1 -29.3 -28.1 -28.1 -44.5 62.4 31

 32 FA753192103 Net equity issues (foreign direct investment) 12.8 3.0 7.6 1.7 2.1 11.0 15.5 -0.7 -29.9 32

 33 FA757005005 Discrepancy 54.7 13.5 77.2 -9.4 263.0 -57.8 113.0 79.1 -370.7 33

 Memo:

 34 FA753139105 Uninsured deposits (2) -9.2 110.6 6.2 10.1 251.4 -96.0 -140.8 339.2 -69.4 34

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) All checkable deposits (line 24) and time and savings deposits (line 25) are considered uninsured according to the Federal Deposit Insurance Act.
Transactions

28 Z.1, September 23, 2021

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA746330005 Gross saving 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 FA745013005 Fixed nonresidential investment 0.2 0.3 0.3 0.3 0.2 0.3 0.3 0.3 0.3 2

 3 FA744090005 Net acquisition of financial assets 3.5 3.5 12.2 3.1 35.9 12.6 -2.6 36.9 24.8 3

 4 FA743013003 Reserves at Federal Reserve -1.7 -1.7 10.3 14.5 21.4 10.5 -5.2 -0.7 34.7 4

 5 FA744022003 Debt securities 5.1 13.2 6.1 -3.5 16.1 3.0 9.0 16.9 -7.9 5

 6 FA743061103 Treasury securities 5.3 5.9 -3.6 -13.2 12.2 -9.4 -4.2 9.2 -0.0 6

 7 FA743061703 Agency- and GSE-backed securities -0.1 -0.3 7.1 -4.3 8.0 13.2 11.4 7.7 1.7 7

 8 FA743062003 Municipal securities -0.1 -0.1 -1.1 0.1 -0.1 -0.6 -3.7 0.0 -0.0 8

 9 FA743063005 Corporate and foreign bonds -0.1 7.7 3.8 13.9 -4.0 -0.2 5.4 0.0 -9.6 9

 10 FA744023003 Loans -1.2 3.5 0.9 7.6 8.5 -5.7 -6.8 -9.5 -3.7 10

 11 FA743068005 Depository institution loans n.e.c. 0.5 5.0 0.6 8.0 6.6 -6.2 -6.2 -5.2 -1.4 11

 12 FA743065103 One-to-four-family residential mortgages -1.2 -0.9 0.3 -0.7 1.5 1.4 -0.9 -2.6 -1.8 12

 13 FA743065505 Commercial mortgages -0.5 -0.6 0.0 0.3 0.4 -0.9 0.3 -1.7 -0.5 13

 14 FA743093005 Miscellaneous assets 1.4 -11.5 -5.1 -15.5 -10.1 4.8 0.5 30.2 1.7 14

 15 FA744190005 Net increase in liabilities 2.7 5.6 14.6 9.1 37.8 15.3 -3.9 29.7 29.1 15

 16 FA744110005 Net interbank liabilities -0.3 -0.3 0.3 -1.4 -0.1 1.8 0.7 0.1 -0.1 16

 17 FA743127003 Checkable deposits 3.5 4.8 11.0 3.3 31.4 8.3 1.1 18.4 27.1 17

 18 FA743130003 Time and savings deposits 0.4 1.4 3.1 6.7 4.8 2.8 -2.1 13.3 3.3 18

 19 FA743193005 Miscellaneous liabilities -0.9 -0.3 0.2 0.4 1.8 2.3 -3.6 -2.2 -1.2 19

 20 FA747005005 Discrepancy -0.8 2.0 2.3 6.0 1.9 2.6 -1.4 -7.3 4.2 20

 Memo:

 21 FA743139105 Uninsured deposits (2) 3.9 4.3 10.5 2.9 23.9 14.0 1.1 11.6 28.9 21

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

(2) Includes checkable deposits (line 17) and time and savings deposits (line 18) not insured by the Federal Deposit Insurance Corporation.

F.114 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA476000105 Gross saving 19.1 19.4 18.0 18.3 17.7 17.7 18.4 18.4 18.6 1

 2 FA475013005 Fixed nonresidential investment 8.4 9.7 10.4 10.7 9.9 10.3 10.6 11.0 11.2 2

 3 FA474090005 Net acquisition of financial assets 79.3 106.3 287.5 255.3 468.1 158.5 268.1 507.9 18.4 3

 4 FA473013005 Reserves at Federal Reserve -6.4 20.1 105.0 131.9 184.0 -9.2 113.5 226.4 -119.3 4

 5 FA472050053 Federal funds and security repos 0.0 0.6 -0.3 -0.1 -0.1 0.2 -1.1 -0.2 -0.9 5

 6 FA474022005 Debt securities -9.1 11.1 88.8 11.5 133.9 115.2 94.7 277.5 11.3 6

 7 FA473069153 Open market paper 0.2 0.5 -0.4 1.8 -1.9 -1.5 0.2 -0.7 -0.3 7

 8 FA473061105 Treasury securities 2.2 5.1 6.3 -7.7 15.0 6.3 11.8 31.4 10.8 8

 9 FA473061705 Agency- and GSE-backed securities -11.8 3.9 75.9 3.3 118.7 104.0 77.6 230.5 3.5 9

 10 FA473062005 Municipal securities -0.1 0.4 4.4 3.6 3.8 4.8 5.3 3.6 2.0 10

 11 FA473063005 Corporate and foreign bonds 0.4 1.1 2.6 10.6 -1.7 1.7 -0.2 12.8 -4.7 11

 12 FA474023000 Loans 86.9 68.5 60.4 81.1 78.5 64.4 17.6 57.7 85.0 12

 13 FA473068005 Depository institution loans n.e.c. 3.2 10.1 7.7 2.4 22.2 5.4 0.7 18.2 -48.0 13

 14 FA473065100 One-to-four-family residential mortgages 41.8 41.6 45.6 70.7 53.9 44.1 13.9 28.4 77.2 14

 15 FA473066000 Consumer credit 41.9 16.8 7.1 8.0 2.3 14.9 3.0 11.2 55.8 15

 16 FA473064205 Mutual fund shares 0.4 0.3 0.9 1.8 0.2 0.3 1.3 4.5 2.0 16

 17 FA473090005 Miscellaneous assets 7.4 5.7 32.6 29.2 71.6 -12.5 42.1 -58.0 40.3 17

 18 FA474190005 Net increase in liabilities 68.0 95.6 270.7 258.0 441.9 134.2 248.9 483.5 17.2 18

 19 FA474110005 Net interbank liabilities 4.0 -0.6 3.8 67.9 -24.6 -28.6 0.7 114.5 -74.6 19

 20 FA473127003 Checkable deposits 21.3 18.4 85.0 75.2 137.6 33.3 93.8 175.8 -17.4 20

 21 FA473130005 Time and savings deposits 39.8 82.2 187.1 41.7 371.5 160.6 174.6 176.6 114.5 21

 22 FA472150053 Federal funds and security repos -0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 22

 23 FA473169333 Loans (other loans and advances) 2.9 -5.5 -9.0 42.4 -49.2 -11.2 -18.0 -11.9 -4.5 23

 24 FA473193005 Miscellaneous liabilities -0.0 1.2 3.8 30.7 6.7 -19.9 -2.2 28.5 -0.8 24

 25 FA477005005 Discrepancy -0.5 -1.0 -9.1 10.3 -18.3 -16.8 -11.4 -17.0 6.2 25

 Memo:

 26 FA473139103 Uninsured deposits (1) 7.3 15.1 25.8 9.2 37.9 25.3 30.8 35.9 24.5 26

(1) Includes checkable deposits (line 20) and time and savings deposits (line 21) not insured by the National Credit Union Share Insurance Fund.
Transactions

Z.1, September 23, 2021 29

F.115 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA516000105 Gross saving less net capital transfers paid (1) 86.7 88.4 80.0 76.0 76.5 77.1 90.3 78.4 90.5 1

 2 FA515013005 Fixed nonresidential investment 27.2 30.6 32.1 32.4 31.1 32.1 33.0 34.3 35.4 2

 3 FA514090005 Net acquisition of financial assets 117.8 77.7 109.9 49.8 95.8 140.3 153.5 94.7 176.3 3

 4 FA513020005 Checkable deposits and currency -1.7 17.4 2.6 -13.8 41.3 -32.9 15.5 29.3 -14.0 4

 5 FA513034005 Money market fund shares 2.7 2.5 9.9 -0.3 32.5 -10.8 18.3 15.4 -23.5 5

 6 FA512051005 Security repurchase agreements -0.0 0.6 0.2 1.5 2.5 0.5 -3.6 0.3 1.0 6

 7 FA514022005 Debt securities 43.7 29.7 53.1 67.9 65.6 106.5 -27.6 94.1 126.2 7

 8 FA513069105 Open market paper -2.2 0.5 -0.8 5.6 9.4 -0.6 -17.5 1.3 4.1 8

 9 FA513061105 Treasury securities 7.9 -7.0 0.9 3.1 23.6 19.9 -43.0 44.5 75.0 9

 10 FA513061705 Agency- and GSE-backed securities 20.2 6.2 3.0 -8.5 -13.1 35.0 -1.2 -9.8 -16.1 10

 11 FA513062005 Municipal securities -38.9 -4.7 2.9 0.3 -0.1 3.9 7.7 -2.0 -2.0 11

 12 FA513063005 Corporate and foreign bonds 56.6 34.7 47.0 67.5 45.8 48.3 26.4 60.1 65.2 12

 13 FA513065505 Loans (commercial mortgages) 2.7 2.4 1.4 3.0 0.3 -0.7 3.1 0.2 4.9 13

 14 FA513064105 Corporate equities 20.1 -1.8 -22.3 7.3 -72.4 -39.8 15.9 1.3 7.0 14

 15 FA513064205 Mutual fund shares -1.1 0.1 0.8 1.7 1.0 5.2 -4.6 1.3 -5.8 15

 16 FA513070005 Trade receivables 17.8 6.6 18.1 33.4 47.3 48.2 -56.6 30.0 24.2 16

 17 FA513092003 U.S. direct investment abroad 9.4 3.9 16.7 17.0 31.2 20.6 -1.8 22.4 6.4 17

 18 FA513090005 Miscellaneous assets 24.2 16.2 29.3 -68.0 -53.4 43.5 194.9 -99.6 49.8 18

 19 FA513092403 Equity in FHLB 0.0 0.0 0.5 0.5 0.3 1.5 -0.2 -0.1 -0.2 19

 20 FA513076005 Policy payables (2) 8.8 10.5 3.8 1.9 8.6 14.3 -9.5 31.0 24.4 20

 21 FA513093005 Other 15.5 5.7 24.9 -70.4 -62.3 27.7 204.5 -130.5 25.6 21

 22 FA514194005 Net increase in liabilities and equity 46.4 82.1 85.6 4.8 161.5 200.6 -24.5 223.8 162.4 22

 23 FA514190005 Net increase in liabilities 46.7 82.5 93.4 25.1 171.2 202.3 -24.9 228.5 160.1 23

 24 FA512151003 Security repurchase agreements -0.2 -0.0 0.1 0.2 0.3 0.1 -0.3 0.0 0.1 24

 25 FA513169333 Loans (other loans and advances) 0.5 0.2 6.4 9.8 1.2 19.8 -5.0 -2.5 -3.9 25

 26 FA513170005 Trade payables 8.4 2.6 11.1 5.6 24.8 41.3 -27.4 8.7 6.8 26

 27 FA513178005 Taxes payable -0.7 -0.3 0.4 10.6 1.1 -14.5 4.6 6.6 -11.6 27

 28 FA513192305 Foreign direct investment: intercompany debt -3.0 -0.4 -0.8 -2.7 -2.6 -1.2 3.2 -0.4 -1.2 28

 29 FA513190005 Miscellaneous liabilities 41.8 80.4 76.2 1.6 146.3 156.8 0.0 216.1 169.8 29

 30 FA513194733 Investment by parent companies 1.2 0.8 -3.9 -0.6 -19.3 4.4 -0.2 2.9 3.1 30

 31 FA513176005 Policy payables 44.1 44.0 55.2 27.8 77.1 121.5 -5.5 134.0 105.2 31

 32 FA513193005 Other -3.4 35.5 24.9 -25.6 88.4 30.9 5.8 79.2 61.4 32

 33 FA513181125 Net equity issues -0.3 -0.4 -7.8 -20.2 -9.7 -1.6 0.4 -4.7 2.3 33

 34 FA513164103 Corporate equity issues -9.7 -7.9 -3.5 -14.1 2.4 -1.2 -0.9 -2.4 -5.4 34

 35 FA513192103 Foreign direct investment: equity 9.4 7.5 -4.3 -6.1 -12.1 -0.4 1.3 -2.3 7.7 35

 36 FA517005005 Discrepancy -11.9 62.2 23.6 -1.2 111.0 105.4 -120.8 173.2 41.1 36

 Memo:

 37 FA513200003 Securities lending (3) 0.9 0.1 -0.5 -0.3 0.5 0.1 -2.3 5.0 7.4 37

 38 FA513176015 Direct reserve 28.0 37.0 50.2 25.3 65.9 103.0 6.8 113.0 88.8 38

 39 FA513176025 Reinsured to U.S. reinsurers 6.9 5.0 7.1 3.6 15.9 26.5 -17.5 15.3 12.0 39

 40 FA263176005 Reinsured to non-U.S. reinsurers 1.8 5.5 -3.3 -1.6 -7.3 -12.2 8.1 15.7 12.3 40

 41 FA263076005 Reinsured from non-U.S. reinsurers 9.1 2.0 -2.1 -1.1 -4.8 -7.9 5.2 5.7 4.5 41

(1) Net capital transfers paid from table F.5, line 53.

(2) Policy payables due from reinsurers.

(3) Liability for securities lending collateral, included in line 32.
Transactions

30 Z.1, September 23, 2021

F.116 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA546000105 Gross saving less net capital transfers paid (2) 19.1 50.7 19.5 30.6 18.1 14.1 15.2 13.4 16.1 1

 2 FA545013005 Fixed nonresidential investment 20.6 23.5 24.8 24.9 24.0 24.8 25.6 26.5 27.4 2

 3 FA544090005 Net acquisition of financial assets 128.0 144.0 387.8 1099.7 49.7 142.8 259.1 -40.1 98.0 3

 4 FA543020005 Checkable deposits and currency -0.4 4.0 33.0 195.6 19.7 -65.9 -17.6 -25.6 75.9 4

 5 FA543034005 Money market fund shares 6.7 3.6 7.9 119.2 -15.0 -46.7 -25.9 -15.9 16.6 5

 6 FA542051075 Security repurchase agreements 0.2 4.1 1.9 12.9 -4.3 8.5 -9.6 -4.6 0.3 6

 7 FA544022005 Debt securities 90.3 122.1 184.3 290.7 56.6 304.5 85.6 73.8 73.2 7

 8 FA543069105 Open market paper -4.9 -4.4 5.2 36.6 -16.1 21.3 -20.9 -13.8 -0.4 8

 9 FA543061105 Treasury securities -28.8 -6.4 7.1 -5.9 6.6 28.0 -0.3 -10.9 21.2 9

 10 FA543061705 Agency- and GSE-backed securities 1.6 -1.3 -20.2 -16.3 -40.3 5.1 -29.4 -37.1 -14.1 10

 11 FA543062005 Municipal securities -2.5 -1.0 -2.9 -4.0 -3.8 -1.5 -2.3 -0.8 0.3 11

 12 FA543063005 Corporate and foreign bonds 124.9 135.1 195.1 280.2 110.2 251.5 138.4 136.4 66.2 12

 13 FA544023005 Loans 60.3 50.1 27.2 53.9 9.4 5.2 40.2 12.1 45.1 13

 14 FA543069005 Other loans and advances -1.2 -1.0 1.7 19.2 -9.6 0.2 -3.2 2.8 3.6 14

 15 FA543065005 Mortgages 61.4 51.1 25.5 34.7 19.0 5.0 43.4 9.4 41.4 15

 16 FA543064105 Corporate equities -44.4 1.3 1.2 6.0 -14.6 -7.7 21.0 -13.7 -48.7 16

 17 FA543064205 Mutual fund shares -87.1 -86.7 -99.3 -153.5 -61.3 -97.7 -84.5 -112.5 -214.3 17

 18 FA543070005 Trade receivables -0.7 6.5 22.5 19.8 28.7 18.9 22.5 0.7 9.8 18

 19 FA543040005 Life insurance reserves -36.2 6.7 5.6 4.9 7.2 4.7 5.6 -8.4 13.7 19

 20 FA543050005 Pension entitlements 100.1 7.7 91.4 82.3 116.0 76.6 90.8 4.1 18.9 20

 21 FA543092073 U.S. direct investment abroad -11.6 -2.4 -1.5 3.4 -3.3 -5.9 -0.1 -0.6 -3.2 21

 22 FA543090005 Miscellaneous assets 50.7 27.1 113.6 464.6 -89.6 -51.6 131.2 50.6 110.7 22

 23 FA543092473 Equity in FHLB 0.5 0.6 2.5 3.2 3.9 1.2 1.9 3.1 0.6 23

 24 FA543077073 Deferred and unpaid life ins. premiums 1.9 1.5 0.1 10.2 -3.8 -1.7 -4.4 8.5 -3.3 24

 25 FA543095105 Other reserves 4.5 3.3 8.8 7.7 11.3 7.4 8.8 -0.4 1.7 25

 26 FA543093005 Other 43.8 21.7 102.2 443.4 -100.9 -58.5 124.8 39.4 111.7 26

 27 FA544194005 Net increase in liabilities and equity 99.6 115.4 403.3 964.0 68.5 163.4 417.3 -169.0 30.9 27

 28 FA544190005 Net increase in liabilities 101.7 137.5 414.9 982.9 64.1 177.7 435.1 -132.9 41.1 28

 29 FA542151073 Security repurchase agreements 2.7 -6.5 1.1 31.5 -16.1 16.5 -27.7 -13.3 0.6 29

 30 FA543169373 Loans (other loans and advances) 6.4 7.5 15.3 76.0 2.2 -18.4 1.3 33.3 -14.0 30

 31 FA543170005 Trade payables 15.2 13.4 88.1 78.2 112.5 73.9 87.8 1.3 9.5 31

 32 FA543140005 Life insurance reserves 43.3 31.7 85.0 188.6 -4.5 72.0 83.9 -75.9 63.2 32

 33 FA543150005 Pension entitlements (3) 44.3 8.9 88.7 143.1 -41.8 78.4 175.0 -131.2 -114.8 33

 34 FA543178075 Taxes payable -2.9 0.4 0.9 10.1 4.9 -14.3 3.0 4.9 -10.1 34

 35 FA543192375 Foreign direct investment: intercompany debt -4.2 0.4 0.8 -1.4 -0.8 -1.9 7.4 -1.6 -0.8 35

 36 FA543190005 Miscellaneous liabilities -3.1 81.6 135.1 456.6 7.8 -28.5 104.3 49.7 107.5 36

 37 FA543194733 Investment by parent companies -11.0 1.1 -5.9 -23.7 0.0 0.0 0.0 0.0 0.0 37

 38 FA673090543 Funding agreements backing securities (4) 3.1 6.2 20.9 23.4 17.7 25.7 16.8 42.8 59.6 38

 39 FA543195005 Other reserves (5) 26.3 17.9 19.2 10.7 24.0 27.2 15.0 11.1 4.4 39

 40 FA593095005 Unallocated insurance contracts -4.7 17.3 10.2 -6.7 20.7 12.2 14.4 -16.4 22.8 40

 41 FA543193005 Other -16.8 39.0 90.7 452.9 -54.5 -93.6 58.0 12.2 20.6 41

 42 FA543181125 Net equity issues -2.1 -22.0 -11.7 -18.8 4.3 -14.4 -17.8 -36.2 -10.1 42

 43 FA543164173 Corporate equity issues -11.9 -17.0 -15.2 -22.5 1.8 -8.2 -31.8 -23.4 -20.5 43

 44 FA543192173 Foreign direct investment: equity 9.7 -5.1 3.5 3.7 2.6 -6.2 14.0 -12.7 10.4 44

 45 FA547005005 Discrepancy -29.8 -1.4 10.2 -130.0 12.9 9.9 147.9 -142.0 -78.3 45

 Memo:

 46 FA543200073 Securities lending (6) -6.4 2.1 3.4 6.5 2.7 -1.0 5.4 16.6 12.4 46

 47 FA543176015 Direct reserve 69.9 74.5 216.8 413.1 -2.2 177.6 278.8 -145.5 3.8 47

 48 FA543176025 Reinsured to U.S. reinsurers 68.8 19.6 120.6 142.7 136.9 96.4 106.2 -17.9 26.5 48

 49 FA543076035 Reinsured to non-U.S. reinsurers 81.2 15.3 87.9 80.7 110.9 73.4 86.5 -3.3 30.6 49

 50 FA543176035 Reinsured from non-U.S. reinsurers 0.3 0.9 -21.5 -18.9 -27.6 -18.1 -21.5 0.0 0.3 50

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables F.116.g and F.116.s.

(2) Net capital transfers paid from table F.5, line 54.

(3) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 40.

(4) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(5) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.

(6) Liability for securities lending collateral, included in line 41.
Transactions

Z.1, September 23, 2021 31

F.116.g Life Insurance Companies: General Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA544090075 Net acquisition of financial assets 255.2 217.9 425.2 1202.1 124.1 190.4 184.0 97.1 345.5 1

 2 FA543020075 Checkable deposits and currency -3.7 8.2 22.7 189.0 8.5 -75.9 -30.8 -24.1 72.3 2

 3 FA543034075 Money market fund shares 1.1 6.8 3.0 82.2 -6.9 -42.6 -20.9 -12.0 22.5 3

 4 FA542051075 Security repurchase agreements 0.2 4.1 1.9 12.9 -4.3 8.5 -9.6 -4.6 0.3 4

 5 FA544022075 Debt securities 93.4 97.7 144.6 250.0 72.7 246.4 9.2 92.1 62.6 5

 6 FA543069175 Open market paper -2.2 -3.0 0.5 33.2 -21.1 16.6 -26.8 -12.1 -1.7 6

 7 FA543061175 Treasury securities -24.7 -5.5 5.8 12.1 -1.1 23.2 -11.0 -8.6 18.8 7

 8 FA543061775 Agency- and GSE-backed securities 4.4 -6.9 -21.5 5.3 -51.4 -0.5 -39.4 -33.7 -20.4 8

 9 FA543062075 Municipal securities -2.2 -3.2 -4.3 -5.2 -5.1 -2.8 -4.1 -0.2 -0.4 9

 10 FA543063075 Corporate and foreign bonds 118.1 116.3 164.1 204.6 151.4 209.8 90.5 146.8 66.2 10

 11 FA544023075 Loans 54.6 48.6 23.1 53.7 3.7 1.6 33.6 14.0 41.1 11

 12 FA543069075 Other loans and advances -1.0 3.6 1.7 19.2 -9.6 0.2 -3.2 2.8 3.6 12

 13 FA543065075 Mortgages 55.6 45.0 21.5 34.4 13.3 1.4 36.8 11.2 37.5 13

 14 FA543064175 Corporate equities 9.5 1.5 14.2 14.1 -8.5 2.9 48.2 10.1 15.2 14

 15 FA543064275 Mutual fund shares 0.4 -1.2 -0.4 -0.5 0.1 -1.7 0.4 -0.8 0.1 15

 16 FA543070075 Trade receivables -0.8 6.5 22.5 19.8 28.7 18.9 22.5 0.7 9.8 16

 17 FA543040075 Life insurance reserves -36.2 6.7 5.6 4.9 7.2 4.7 5.6 -8.4 13.7 17

 18 FA543050075 Pension entitlements 97.2 7.8 93.5 82.3 119.7 78.6 93.5 4.2 19.1 18

 19 FA543092073 U.S. direct investment abroad -11.6 -2.4 -1.5 3.4 -3.3 -5.9 -0.1 -0.6 -3.2 19

 20 FA543090075 Miscellaneous assets 50.9 33.6 96.1 490.3 -93.5 -45.0 32.4 26.6 92.2 20

 21 FA544194075 Net increase in liabilities and equity 223.6 188.6 441.8 1077.4 139.5 210.8 339.5 -39.7 278.6 21

 22 FA544190075 Net increase in liabilities 225.8 210.7 453.5 1096.2 135.2 225.2 357.3 -3.6 288.7 22

 23 FA542151073 Security repurchase agreements 2.7 -6.5 1.1 31.5 -16.1 16.5 -27.7 -13.3 0.6 23

 24 FA543169373 Loans (other loans and advances) 6.4 7.5 15.3 76.0 2.2 -18.4 1.3 33.3 -14.0 24

 25 FA543170075 Trade payables 14.1 13.5 88.7 78.0 113.5 74.5 88.7 1.3 9.5 25

 26 FA543140075 Life insurance reserves 41.9 45.7 91.1 206.2 4.9 79.4 73.9 -58.8 95.6 26

 27 FA543150075 Pension entitlements (1) 154.9 43.5 100.8 220.9 -9.1 101.3 90.3 -38.1 58.1 27

 28 FA543178075 Taxes payable -2.9 0.4 0.9 10.1 4.9 -14.3 3.0 4.9 -10.1 28

 29 FA543192375 Foreign direct investment: intercompany debt -4.2 0.4 0.8 -1.4 -0.8 -1.9 7.4 -1.6 -0.8 29

 30 FA543190075 Miscellaneous liabilities 12.9 106.2 154.8 474.8 35.9 -12.0 120.4 68.8 149.7 30

 31 FA543181125 Net equity issues -2.1 -22.0 -11.7 -18.8 4.3 -14.4 -17.8 -36.2 -10.1 31

 32 FA543164173 Corporate equity issues -11.9 -17.0 -15.2 -22.5 1.8 -8.2 -31.8 -23.4 -20.5 32

 33 FA543192173 Foreign direct investment: equity 9.7 -5.1 3.5 3.7 2.6 -6.2 14.0 -12.7 10.4 33

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 30).

F.116.s Life Insurance Companies: Separate Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA544090085 Net acquisition of financial assets -127.2 -73.9 -37.3 -102.4 -74.4 -47.6 75.1 -137.2 -247.5 1

 2 FA543020083 Checkable deposits and currency 3.3 -4.2 10.3 6.6 11.2 10.0 13.2 -1.6 3.6 2

 3 FA543034385 Money market fund shares 5.6 -3.2 5.0 37.0 -8.1 -4.1 -5.0 -3.9 -5.9 3

 4 FA544022085 Debt securities -3.1 24.3 39.8 40.7 -16.0 58.1 76.4 -18.4 10.6 4

 5 FA543069183 Open market paper -2.7 -1.4 4.8 3.4 5.0 4.7 5.9 -1.7 1.2 5

 6 FA543061183 Treasury securities -4.0 -0.9 1.3 -18.0 7.6 4.8 10.7 -2.3 2.4 6

 7 FA543061783 Agency- and GSE-backed securities -2.8 5.5 1.3 -21.5 11.1 5.6 10.0 -3.4 6.4 7

 8 FA543062083 Municipal securities -0.3 2.2 1.4 1.2 1.3 1.3 1.9 -0.6 0.7 8

 9 FA543063085 Corporate and foreign bonds 6.8 18.8 31.0 75.6 -41.1 41.7 48.0 -10.4 -0.1 9

 10 FA544023085 Loans 5.7 1.4 4.1 0.2 5.7 3.6 6.6 -1.8 4.0 10

 11 FA543069483 Other loans and advances -0.2 -4.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA543065083 Mortgages 5.8 6.1 4.1 0.2 5.7 3.6 6.6 -1.8 4.0 12

 13 FA543064185 Corporate equities -53.9 -0.2 -13.0 -8.1 -6.1 -10.5 -27.2 -23.7 -63.9 13

 14 FA543064385 Mutual fund shares -87.6 -85.5 -98.8 -153.0 -61.4 -96.1 -84.9 -111.8 -214.4 14

 15 FA543070085 Trade receivables 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA543040085 Life insurance reserves 0.0 0.0 -0.0 0.0 -0.0 0.0 -0.0 0.0 0.0 16

 17 FA543050085 Pension entitlements 2.9 -0.1 -2.1 0.0 -3.7 -2.0 -2.8 -0.1 -0.1 17

 18 FA543090085 Miscellaneous assets -0.1 -6.5 17.6 -25.8 4.0 -6.6 98.8 24.0 18.4 18

 19 FA544190085 Net increase in liabilities -124.0 -73.2 -38.5 -113.3 -71.1 -47.5 77.8 -129.3 -247.6 19

 20 FA543170085 Trade payables 1.1 -0.1 -0.6 0.1 -1.0 -0.6 -0.9 -0.0 -0.0 20

 21 FA543140085 Life insurance reserves 1.4 -14.0 -6.1 -17.6 -9.4 -7.4 10.0 -17.1 -32.5 21

 22 FA543150085 Pension entitlements (1) -110.5 -34.6 -12.1 -77.8 -32.6 -22.9 84.7 -93.1 -172.9 22

 23 FA543190085 Miscellaneous liabilities -16.0 -24.6 -19.7 -18.2 -28.0 -16.5 -16.1 -19.0 -42.2 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds which are included in miscellaneous liabilities (line 23).
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32 Z.1, September 23, 2021

F.117 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA596330005 Gross saving 0.7 0.7 0.7 0.6 0.7 0.7 0.7 0.7 0.7 1

 2 FA595013005 Fixed nonresidential investment 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 2

 3 FA594090005 Net acquisition of financial assets (2) 292.2 433.9 422.2 358.1 524.9 418.9 386.8 348.9 435.8 3

 4 FA593020005 Checkable deposits and currency -6.9 12.2 12.9 7.4 1.5 9.0 33.7 -16.0 6.7 4

 5 FA593030005 Time and savings deposits -5.4 -10.9 -9.5 -5.4 -13.7 -9.3 -9.7 -4.4 0.9 5

 6 FA593034005 Money market fund shares -2.8 20.5 46.7 98.0 31.3 37.4 20.0 27.5 24.4 6

 7 FA592051005 Security repurchase agreements -0.7 16.8 6.4 1.8 -4.2 -0.3 28.4 50.8 22.7 7

 8 FA594022005 Debt securities 448.4 25.9 292.3 301.1 213.9 296.1 357.9 351.2 458.3 8

 9 FA593069105 Open market paper -7.2 -8.8 -2.4 14.0 -20.2 -0.6 -2.7 29.6 1.4 9

 10 FA593061105 Treasury securities (3) 388.5 141.6 235.5 162.7 175.5 299.1 304.9 345.3 402.1 10

 11 FA593061705 Agency- and GSE-backed securities 25.3 34.2 58.0 76.4 23.6 100.1 32.1 26.0 61.9 11

 12 FA593062045 Municipal securities 0.7 0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 12

 13 FA593063005 Corporate and foreign bonds 41.1 -141.1 1.1 48.1 35.0 -102.4 23.6 -49.7 -7.1 13

 14 FA594023005 Loans -149.1 -1.6 -6.0 -4.8 -8.1 -3.7 -7.2 0.5 -4.6 14

 15 FA313169003 Other loans and advances -151.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA593065005 Mortgages 2.6 -1.6 -6.0 -4.8 -8.1 -3.7 -7.2 0.5 -4.6 16

 17 FA593064105 Corporate equities -183.9 -201.9 -142.7 -99.1 -232.8 28.4 -267.2 -7.9 -196.8 17

 18 FA593064205 Mutual fund shares -9.7 22.0 -89.3 -216.3 -61.7 -114.0 34.6 -168.8 -66.9 18

 19 FA593090005 Miscellaneous assets 202.1 550.9 311.4 275.2 598.7 175.4 196.3 115.9 191.1 19

 20 FA593095005 Unallocated insurance contracts (4) -4.7 17.3 10.2 -6.7 20.7 12.2 14.4 -16.4 22.8 20

 21 FA573074005 Contributions receivable -34.6 -4.6 -10.0 -2.7 -11.3 -11.6 -14.2 -9.0 -14.6 21

 22 FA593073005 Claims of pension fund on sponsor (5) 249.1 288.7 278.0 178.4 236.6 318.2 379.0 201.7 166.8 22

 23 FA593093005 Other -7.7 249.4 33.1 106.3 352.8 -143.5 -183.0 -60.4 16.2 23

 24 FA594190005 Net increase in pension entitlements (liabilities) 291.9 433.7 422.0 357.9 524.8 418.8 386.7 348.8 435.7 24

 Memo:

 25 FA153050015 Household retirement assets (6) 626.1 663.2 622.4 532.0 665.3 566.0 726.4 315.1 ND 25

 26 FA594190045 Defined benefit plans 270.9 274.7 271.8 271.7 269.8 273.4 272.2 273.9 269.7 26

 27 FA594090055 Defined contribution plans 20.9 159.1 150.3 86.2 255.0 145.4 114.5 74.9 166.0 27

 28 FA893131573 Individual retirement plans (IRAs) (7) 291.6 248.5 151.7 -37.1 261.5 116.9 265.3 92.7 ND 28

 29 FA543150015 Annuities at life insurance companies (8) 42.7 -19.1 48.7 211.1 -120.9 30.3 74.5 -126.4 ND 29

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements.

(6) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(7) IRA assets are not included above. See memo item on table F.227 for a sectoral distribution of IRA accounts.

(8) Annuities held in IRAs are excluded. They are included in line 28.
Transactions

Z.1, September 23, 2021 33

F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA576330005 Gross saving 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 1

 2 FA575013005 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 2

 3 FA574090005 Net acquisition of financial assets (2) 12.0 108.9 72.3 57.6 115.6 64.3 51.8 14.6 75.3 3

 4 FA573020005 Checkable deposits and currency -5.0 7.3 8.1 10.9 7.4 7.3 6.6 2.3 5.3 4

 5 FA573030005 Time and savings deposits -5.0 -15.4 -7.3 -4.4 -7.8 -7.9 -9.1 -5.2 3.1 5

 6 FA573034005 Money market fund shares -0.4 21.2 42.7 61.4 39.4 38.8 31.1 10.9 25.8 6

 7 FA572051005 Security repurchase agreements -0.5 13.3 5.3 3.8 5.6 5.6 6.2 3.4 6.0 7

 8 FA574022005 Debt securities 82.3 47.5 92.2 139.4 48.7 72.1 108.6 24.6 91.1 8

 9 FA573069105 Open market paper -5.3 -2.5 -0.6 1.5 -1.0 -1.0 -1.7 -1.4 -2.0 9

 10 FA573061105 Treasury securities 26.2 52.1 97.1 115.8 92.5 92.0 88.2 36.2 75.2 10

 11 FA573061705 Agency- and GSE-backed securities 12.9 11.6 29.8 56.8 -18.1 41.6 38.7 14.7 32.1 11

 12 FA573063005 Corporate and foreign bonds 48.6 -13.8 -34.1 -34.8 -24.8 -60.4 -16.7 -24.8 -14.2 12

 13 FA573065005 Loans (mortgages) -2.8 -0.6 -5.4 -6.6 -5.0 -5.0 -4.7 -1.8 -4.0 13

 14 FA573064105 Corporate equities -80.0 -168.8 -140.6 -173.5 -99.5 -123.5 -165.8 -56.2 -146.2 14

 15 FA573064205 Mutual fund shares -8.9 21.9 -113.4 -183.5 -67.5 -99.9 -102.6 -3.1 -52.2 15

 16 FA573090005 Miscellaneous assets 32.4 182.5 190.7 210.3 194.5 176.7 181.4 39.7 146.3 16

 17 FA573095005 Unallocated insurance contracts (3) 0.8 2.9 -1.3 -4.0 8.4 -7.4 -2.2 -18.9 1.5 17

 18 FA573074005 Contributions receivable -34.6 -4.6 -10.0 -2.7 -11.3 -11.6 -14.2 -9.0 -14.6 18

 19 FA573073005 Claims of pension fund on sponsor (4) 75.6 74.4 46.1 22.9 50.6 50.0 60.8 13.7 44.8 19

 20 FA573093005 Other -9.5 109.8 155.9 194.2 146.8 145.7 137.0 53.9 114.6 20

 21 FA574190005 Net increase in pension entitlements (liabilities) 11.9 108.8 72.3 57.6 115.6 64.2 51.7 14.6 75.3 21

 Memo:

 Net acquisition of financial assets

 22 FA574090045 Defined benefit plans (5) -31.0 -34.6 -42.9 -40.8 -42.7 -44.1 -43.8 -43.8 -43.8 22

 23 FA574090055 Defined contribution plans (6) 43.0 143.5 115.2 98.4 158.3 108.4 95.6 58.5 119.1 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Additional detail on defined benefit plans is available on table F.118.b.

(6) Additional detail on defined contribution plans is available on table F.118.c.
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34 Z.1, September 23, 2021

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA574090045 Net acquisition of financial assets (1) -31.0 -34.6 -42.9 -40.8 -42.7 -44.1 -43.8 -43.8 -43.8 1

 2 FA573020043 Checkable deposits and currency -0.9 -0.0 -0.4 -0.3 -0.4 -0.4 -0.4 -0.2 -0.4 2

 3 FA573030043 Time and savings deposits -5.2 -15.8 -8.7 -6.2 -9.1 -9.2 -10.2 -5.6 2.2 3

 4 FA573034043 Money market fund shares -6.2 10.7 1.8 1.3 1.9 1.9 2.2 1.2 2.1 4

 5 FA572051043 Security repurchase agreements -0.5 13.3 5.3 3.8 5.6 5.6 6.2 3.4 6.0 5

 6 FA574022045 Debt securities 62.7 28.8 -8.3 7.0 -44.4 -20.0 24.4 -5.6 22.7 6

 7 FA573069143 Open market paper -5.7 -3.3 -3.7 -2.6 -3.9 -3.9 -4.3 -2.4 -4.2 7

 8 FA573061143 Treasury securities 14.3 34.7 20.2 14.5 21.2 21.4 23.8 13.1 22.9 8

 9 FA573061743 Agency- and GSE-backed securities 7.0 1.7 -11.4 2.6 -56.2 3.8 4.2 2.3 4.1 9

 10 FA573063043 Corporate and foreign bonds 47.0 -4.3 -13.4 -7.4 -5.5 -41.3 0.7 -18.6 -0.0 10

 11 FA573065043 Loans (mortgages) -1.5 -0.2 -0.7 -0.5 -0.7 -0.7 -0.8 -0.5 -0.8 11

 12 FA573064143 Corporate equities -75.8 -135.0 -41.0 -42.2 -7.2 -32.1 -82.3 -26.3 -78.4 12

 13 FA573064243 Mutual fund shares -39.0 -47.0 -35.5 -25.4 -37.2 -37.6 -41.7 -23.0 -40.2 13

 14 FA573090045 Miscellaneous assets 35.5 110.5 44.4 21.7 48.9 48.3 58.9 12.6 43.0 14

 15 FA573095405 Unallocated insurance contracts (2) 2.7 -8.7 -2.5 -1.8 -2.6 -2.6 -2.9 -1.6 -2.8 15

 16 FA573074043 Contributions receivable -36.5 -5.4 -17.3 -12.4 -18.1 -18.3 -20.3 -11.2 -19.6 16

 17 FA573073005 Claims of pension fund on sponsor (3) 75.6 74.4 46.1 22.9 50.6 50.0 60.8 13.7 44.8 17

 18 FA573093043 Other -6.3 50.2 18.1 13.0 19.0 19.2 21.3 11.7 20.5 18

 19 FA574190043 Net increase in pension entitlements (liabilities) -31.2 -34.7 -42.9 -40.8 -42.7 -44.2 -43.9 -43.9 -43.9 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA574090055 Net acquisition of financial assets 43.0 143.5 115.2 98.4 158.3 108.4 95.6 58.5 119.1 1

 2 FA573020033 Checkable deposits and currency -4.1 7.3 8.4 11.1 7.8 7.7 7.1 2.5 5.7 2

 3 FA573030033 Time and savings deposits 0.2 0.3 1.3 1.8 1.2 1.2 1.1 0.4 0.9 3

 4 FA573034055 Money market fund shares 5.8 10.6 40.8 60.1 37.5 36.8 28.9 9.7 23.8 4

 5 FA572051033 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA574022035 Debt securities 19.7 18.6 100.5 132.4 93.1 92.2 84.2 30.2 68.3 6

 7 FA573069133 Open market paper 0.4 0.8 3.1 4.1 2.9 2.9 2.6 0.9 2.1 7

 8 FA573061133 Treasury securities 12.0 17.4 76.9 101.4 71.3 70.6 64.5 23.1 52.3 8

 9 FA573061733 Agency- and GSE-backed securities 5.8 9.9 41.2 54.3 38.2 37.8 34.5 12.4 28.0 9

 10 FA573063033 Corporate and foreign bonds 1.5 -9.5 -20.8 -27.4 -19.3 -19.1 -17.4 -6.2 -14.1 10

 11 FA573065033 Loans (mortgages) -1.3 -0.5 -4.7 -6.1 -4.3 -4.3 -3.9 -1.4 -3.2 11

 12 FA573064133 Corporate equities -4.2 -33.8 -99.6 -131.3 -92.3 -91.4 -83.5 -29.9 -67.8 12

 13 FA573064255 Mutual fund shares 30.1 68.9 -77.9 -158.1 -30.3 -62.3 -60.8 19.9 -12.0 13

 14 FA573090055 Miscellaneous assets -3.1 72.0 146.3 188.6 145.6 128.4 122.5 27.1 103.4 14

 15 FA573095505 Unallocated insurance contracts (2) -1.9 11.6 1.1 -2.3 11.0 -4.8 0.7 -17.3 4.3 15

 16 FA573074033 Contributions receivable 2.0 0.8 7.3 9.7 6.8 6.7 6.1 2.2 5.0 16

 17 FA573093055 Other -3.2 59.6 137.8 181.3 127.8 126.5 115.7 42.2 94.1 17

 18 FA574090055 Net increase in pension entitlements (liabilities) 43.0 143.5 115.2 98.4 158.3 108.4 95.6 58.5 119.1 18

(1) Includes 401(k) and 403(b) type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
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Z.1, September 23, 2021 35

F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA344090005 Net acquisition of financial assets (1) 85.3 75.6 104.1 87.6 151.7 103.6 73.7 98.6 103.2 1

 2 FA343020033 Checkable deposits and currency -0.2 -0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 FA344022005 Debt securities 309.2 113.5 147.7 183.2 199.5 119.0 89.1 148.6 240.5 3

 4 FA343061105 Treasury securities (2) 309.4 111.2 145.5 190.6 193.8 113.8 84.0 148.5 241.4 4

 5 FA343061705 Agency- and GSE-backed securities -0.3 1.3 1.3 -2.8 2.9 2.0 3.2 -0.6 -0.4 5

 6 FA343062033 Municipal securities -0.0 0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 6

 7 FA343063005 Corporate and foreign bonds 0.0 1.0 0.9 -4.6 2.8 3.3 2.0 0.7 -0.5 7

 8 FA343064105 Corporate equities -21.6 -5.0 -24.1 -48.8 18.9 -23.4 -43.1 17.5 12.7 8

 9 FA313169003 Loans (other loans and advances) (3) -151.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) -50.4 -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 10

 11 FA344090005 Net increase in pension entitlements (liabilities) 85.3 75.6 104.1 87.6 151.7 103.6 73.7 98.6 103.2 11

 Memo:

 Net acquisition of financial assets

 12 FA344090045 Defined benefit plans (5) 73.5 77.5 79.2 78.6 78.0 80.5 79.8 81.5 77.3 12

 13 FA344090055 Defined contibution plans (6) 11.8 -1.9 24.9 9.0 73.7 23.0 -6.1 17.1 26.0 13

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Unfunded defined benefit pension entitlements.

(5) Additional detail on defined benefit plans is available on table F.119.b

(6) Additional detail on defined contribution plans is available on table F.119.c.
Transactions

36 Z.1, September 23, 2021

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA344090045 Net acquisition of financial assets (2) 73.5 77.5 79.2 78.6 78.0 80.5 79.8 81.5 77.3 1

 2 FA343020033 Checkable deposits and currency -0.2 -0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 FA344022045 Debt securities 124.6 112.0 100.9 123.4 147.5 74.3 58.4 153.3 231.2 3

 4 FA343061165 Treasury securities (3) 124.7 111.8 101.5 126.6 147.4 74.5 57.6 151.4 231.1 4

 5 FA343061733 Agency- and GSE-backed securities 0.1 0.1 -0.2 -0.9 0.3 -0.6 0.2 0.2 0.1 5

 6 FA343062033 Municipal securities -0.0 0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 6

 7 FA343063033 Corporate and foreign bonds -0.2 0.1 -0.4 -2.3 -0.2 0.3 0.6 1.7 0.0 7

 8 FA343064135 Corporate equities -0.4 -1.6 -2.2 2.0 -2.8 -1.8 -6.3 -4.2 -3.9 8

 9 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) -50.4 -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 9

 10 FA344190045 Net increase in pension entitlements (liabilities) 73.5 77.5 79.2 78.6 78.0 80.5 79.8 81.5 77.3 10

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Comprised primarily of nonmarketable Treasury securities.

(4) Unfunded defined benefit pension entitlements.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA344090055 Net acquisition of financial assets 11.8 -1.9 24.9 9.0 73.7 23.0 -6.1 17.1 26.0 1

 2 FA344022025 Debt securities 184.6 1.5 46.8 59.8 52.0 44.7 30.7 -4.6 9.3 2

 3 FA343061155 Treasury securities (2) 184.7 -0.6 44.0 64.0 46.4 39.2 26.4 -2.9 10.3 3

 4 FA343061723 Agency- and GSE-backed securities -0.3 1.2 1.5 -2.0 2.6 2.5 3.0 -0.8 -0.5 4

 5 FA343063023 Corporate and foreign bonds 0.3 0.9 1.3 -2.3 3.0 2.9 1.3 -0.9 -0.5 5

 6 FA343064125 Corporate equities -21.2 -3.4 -21.9 -50.8 21.7 -21.7 -36.8 21.7 16.6 6

 7 FA313169003 Loans (other loans and advances) (3) -151.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA344090055 Net increase in pension entitlements (liabilities) 11.8 -1.9 24.9 9.0 73.7 23.0 -6.1 17.1 26.0 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
Transactions

Z.1, September 23, 2021 37

F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA226330005 Gross saving 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 1

 2 FA225013005 Fixed nonresidential investment 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 2

 3 FA224090005 Net acquisition of financial assets (1) 194.9 249.5 245.7 212.9 257.6 251.1 261.3 235.7 257.3 3

 4 FA223020043 Checkable deposits and currency -1.7 4.9 4.7 -3.6 -6.1 1.5 26.9 -18.4 1.2 4

 5 FA223030043 Time and savings deposits -0.4 4.6 -2.2 -1.0 -5.9 -1.4 -0.6 0.8 -2.2 5

 6 FA223034005 Money market fund shares -2.4 -0.8 4.0 36.6 -8.1 -1.4 -11.1 16.6 -1.4 6

 7 FA222051043 Security repurchase agreements -0.2 3.5 1.1 -2.0 -9.8 -5.9 22.2 47.3 16.7 7

 8 FA224022045 Debt securities 56.9 -135.1 52.4 -21.5 -34.3 105.0 160.3 178.0 126.7 8

 9 FA223069143 Open market paper -1.9 -6.4 -1.8 12.5 -19.2 0.4 -1.0 31.0 3.5 9

 10 FA223061143 Treasury securities 52.8 -21.7 -7.1 -143.8 -110.8 93.3 132.7 160.7 85.5 10

 11 FA223061743 Agency- and GSE-backed securities 12.7 21.3 27.0 22.4 38.7 56.5 -9.8 11.9 30.2 11

 12 FA223062043 Municipal securities 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA223063045 Corporate and foreign bonds -7.5 -128.4 34.4 87.5 57.0 -45.3 38.3 -25.6 7.6 13

 14 FA223065043 Loans (mortgages) 5.4 -0.9 -0.6 1.8 -3.1 1.3 -2.5 2.4 -0.6 14

 15 FA223064145 Corporate equities -82.3 -28.1 22.0 123.2 -152.2 175.3 -58.4 30.8 -63.3 15

 16 FA223064205 Mutual fund shares -0.7 0.1 24.0 -32.7 5.8 -14.1 137.2 -165.7 -14.7 16

 17 FA223090005 Miscellaneous assets 220.1 401.3 140.3 111.9 471.1 -9.2 -12.6 143.9 194.9 17

 18 FA223095505 Unallocated insurance contracts (2) -5.5 14.5 11.5 -2.7 12.3 19.7 16.6 2.5 21.3 18

 19 FA223073045 Claims of pension fund on sponsor (3) 223.9 247.2 251.6 202.5 252.9 260.3 290.7 255.7 272.1 19

 20 FA223093005 Other 1.8 139.6 -122.8 -87.9 206.0 -289.2 -319.9 -114.4 -98.5 20

 21 FA224190005 Net increase in pension entitlements (liabilities) 194.7 249.4 245.6 212.8 257.5 251.0 261.2 235.6 257.2 21

 Memo:

 Net acquisition of financial assets

 22 FA224090045 Defined benefit plans (4) 228.7 232.0 235.5 234.1 234.6 237.1 236.4 236.4 236.4 22

 23 FA224090055 Defined contibution plans (5) -33.8 17.5 10.2 -21.2 23.0 14.0 25.0 -0.7 20.9 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.

(3) Unfunded defined benefit pension entitlements.

(4) Additional detail on defined benefit plans is available on table F.120.b.

(5) Additional detail on defined contribution plans is available on table F.120.c.
Transactions

38 Z.1, September 23, 2021

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA224090045 Net acquisition of financial assets (1) 228.7 232.0 235.5 234.1 234.6 237.1 236.4 236.4 236.4 1

 2 FA223020043 Checkable deposits and currency -1.7 4.9 4.7 -3.6 -6.1 1.5 26.9 -18.4 1.2 2

 3 FA223030043 Time and savings deposits -0.4 4.6 -2.2 -1.0 -5.9 -1.4 -0.6 0.8 -2.2 3

 4 FA223034043 Money market fund shares -2.0 -0.8 3.9 35.4 -8.1 -1.3 -10.2 17.0 -0.8 4

 5 FA222051043 Security repurchase agreements -0.2 3.5 1.1 -2.0 -9.8 -5.9 22.2 47.3 16.7 5

 6 FA224022045 Debt securities 56.9 -135.1 52.4 -21.5 -34.3 105.0 160.3 178.0 126.7 6

 7 FA223069143 Open market paper -1.9 -6.4 -1.8 12.5 -19.2 0.4 -1.0 31.0 3.5 7

 8 FA223061143 Treasury securities 52.8 -21.7 -7.1 -143.8 -110.8 93.3 132.7 160.7 85.5 8

 9 FA223061743 Agency- and GSE-backed securities 12.7 21.3 27.0 22.4 38.7 56.5 -9.8 11.9 30.2 9

 10 FA223062043 Municipal securities 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA223063045 Corporate and foreign bonds -7.5 -128.4 34.4 87.5 57.0 -45.3 38.3 -25.6 7.6 11

 12 FA223065043 Loans (mortgages) 5.4 -0.9 -0.6 1.8 -3.1 1.3 -2.5 2.4 -0.6 12

 13 FA223064145 Corporate equities -82.3 -28.1 22.0 123.2 -152.2 175.3 -58.4 30.8 -63.3 13

 14 FA223064243 Mutual fund shares 26.0 -2.7 25.6 -12.7 -4.7 -8.2 128.1 -162.7 -14.7 14

 15 FA223090045 Miscellaneous assets 226.9 386.6 128.6 114.3 458.6 -29.1 -29.4 141.2 173.4 15

 16 FA223073045 Claims of pension fund on sponsor (2) 223.9 247.2 251.6 202.5 252.9 260.3 290.7 255.7 272.1 16

 17 FA223093043 Other 3.0 139.4 -123.0 -88.2 205.8 -289.4 -320.2 -114.6 -98.7 17

 18 FA224190043 Net increase in pension entitlements (liabilities) 228.5 231.9 235.4 234.0 234.5 237.0 236.3 236.3 236.3 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

F.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA224090055 Net acquisition of financial assets -33.8 17.5 10.2 -21.2 23.0 14.0 25.0 -0.7 20.9 1

 2 FA223034055 Money market fund shares -0.3 0.0 0.1 1.3 0.0 -0.0 -0.9 -0.4 -0.6 2

 3 FA223064255 Mutual fund shares -26.7 2.8 -1.6 -20.0 10.5 -5.9 9.0 -3.0 0.0 3

 4 FA223090055 Miscellaneous assets -6.8 14.7 11.7 -2.5 12.5 19.9 16.8 2.8 21.5 4

 5 FA223095505 Unallocated insurance contracts (misc. assets) (2) -5.5 14.5 11.5 -2.7 12.3 19.7 16.6 2.5 21.3 5

 6 FA223093053 Other -1.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 6

 7 FA224090055 Net increase in pension entitlements (liabilities) -33.8 17.5 10.2 -21.2 23.0 14.0 25.0 -0.7 20.9 7

(1) Includes 403(b) and 457 type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
Transactions

Z.1, September 23, 2021 39

F.121 Money Market Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA634090005 Net acquisition of financial assets 189.9 596.0 701.3 3093.7 1300.9 -1054.3 -535.2 927.6 254.2 1

 2 FA633091003 Foreign deposits -2.2 5.8 -6.7 -14.5 -6.6 -4.9 -0.7 5.8 -7.6 2

 3 FA633020000 Checkable deposits and currency -65.8 44.9 -9.0 -104.8 -137.2 -169.7 375.8 -184.3 -137.5 3

 4 FA633030000 Time and savings deposits 11.7 68.2 -118.3 -128.1 -115.4 -121.0 -108.6 142.7 -167.0 4

 5 FA632051000 Security repurchase agreements 63.0 155.7 -168.8 1537.2 -2551.4 363.9 -25.1 557.9 1791.8 5

 6 FA634022005 Debt securities 181.7 319.0 1004.0 1797.0 4315.6 -1310.8 -785.6 477.2 -1072.0 6

 7 FA633069175 Open market paper 41.1 43.5 -63.8 -52.2 -42.8 -180.1 20.1 45.0 -164.4 7

 8 FA633061105 Treasury securities 170.6 163.0 1219.8 1041.5 4767.2 -562.5 -366.9 565.2 -580.9 8

 9 FA633061700 Agency- and GSE-backed securities -37.4 110.2 -124.7 820.7 -421.0 -538.3 -360.3 -120.5 -294.4 9

 10 FA633062000 Municipal securities 8.4 -8.9 -21.4 6.0 16.4 -44.1 -63.8 -12.1 -30.5 10

 11 FA633063005 Corporate and foreign bonds -1.1 11.0 -5.9 -19.0 -4.2 14.4 -14.8 -0.3 -1.9 11

 12 FA633093005 Miscellaneous assets 1.4 2.4 -0.0 6.9 -204.1 188.0 9.1 -71.6 -153.6 12

 13 FA634090005 Net share issues (liabilities) 189.9 596.0 701.3 3093.7 1300.9 -1054.3 -535.2 927.6 254.2 13

 Memo:

 14 FA634090503 Variable annuity money market funds included above 6.1 -3.0 5.6 45.2 -7.9 -4.3 -10.8 -6.7 -10.2 14

(1) Open-end investment companies including variable annuity money market funds.

F.122 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA656006403 Gross saving -54.9 131.9 59.2 24.5 75.9 77.5 59.0 60.0 70.0 1

 2 FA654090000 Net acquisition of financial assets -63.4 208.0 -226.8 -1223.7 61.4 106.2 149.0 363.1 167.5 2

 3 FA652051003 Security repurchase agreements -16.4 21.2 5.4 17.9 -12.8 -29.8 46.2 25.4 10.9 3

 4 FA654022005 Debt securities 185.0 356.5 339.7 -1048.2 436.5 1228.2 742.3 1191.8 285.1 4

 5 FA653069100 Open market paper -16.4 21.2 5.4 8.6 -9.0 -19.7 41.5 18.1 12.1 5

 6 FA653061105 Treasury securities 69.7 120.0 -46.5 -1062.7 406.0 222.9 247.9 298.7 58.7 6

 7 FA653061703 Agency- and GSE-backed securities 5.6 31.0 55.8 70.4 -481.6 476.9 157.5 72.9 31.6 7

 8 FA653062003 Municipal securities 22.1 105.8 49.7 -88.0 52.8 147.8 86.2 123.8 118.8 8

 9 FA653063005 Corporate and foreign bonds 104.0 78.5 275.3 23.5 468.3 400.2 209.1 678.4 63.9 9

 10 FA653069803 Loans (other loans and advances) 0.7 -33.7 -29.0 -120.0 -0.2 -2.8 7.0 61.3 65.8 10

 11 FA653064100 Corporate equities -120.6 -219.4 -481.6 -361.3 -330.1 -666.5 -568.3 -589.5 -252.0 11

 12 FA653093005 Miscellaneous assets -112.2 83.4 -61.3 287.8 -32.0 -422.7 -78.1 -326.0 57.7 12

 13 FA653164205 Net share issues (liabilities) -63.4 208.0 -226.8 -1223.7 61.4 106.2 149.0 363.1 167.5 13

 14 FA657005005 Discrepancy -54.9 131.9 59.2 24.5 75.9 77.5 59.0 60.0 70.0 14

 Memo:

 15 FA654090500 Variable annuity mutual funds included above -104.6 -104.2 -116.2 -173.7 -75.0 -115.8 -100.2 -126.4 -227.3 15

 Net acquisition of financial assets by investment objective:

 16 FA654091600 Domestic equity funds -161.7 -205.4 -381.7 -473.2 -266.4 -483.0 -304.1 -318.9 -440.7 16

 17 FA654092603 World equity funds 40.9 -6.0 -142.3 44.5 -186.6 -218.4 -208.5 -162.4 42.0 17

 18 FA654091403 Hybrid funds -58.7 -15.2 -53.9 -187.5 17.5 -24.4 -21.1 8.8 28.0 18

 19 FA654091303 Taxable bond funds 96.4 325.0 295.6 -566.6 448.2 690.9 609.7 668.1 445.7 19

 20 FA654091203 Municipal bond funds 19.6 109.7 55.5 -68.4 68.7 120.5 101.0 120.3 109.4 20

(1) Open-end investment companies including variable annuity mutual funds. Quarterly figures for net acquisition of financial assets by investment objective (lines 16 through 20)

 are not seasonally adjusted and therefore may not sum to total net acquisition of financial assets (line 2).
Transactions

40 Z.1, September 23, 2021

F.123 Closed-End Funds 

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA554090005 Net acquisition of financial assets 1.9 5.9 2.7 11.3 -0.7 -0.2 0.5 27.0 11.6 1

 2 FA554022005 Debt securities 2.3 3.2 0.8 3.6 -0.7 -0.2 0.7 10.3 4.0 2

 3 FA553061103 Treasury securities -0.2 -0.5 -0.4 -3.0 0.8 0.5 0.3 0.6 0.3 3

 4 FA553062003 Municipal securities 2.0 1.7 -0.3 0.5 -0.2 -0.0 -1.5 1.5 1.1 4

 5 FA553063003 Corporate and foreign bonds 0.5 2.0 1.5 6.1 -1.3 -0.6 1.9 8.2 2.6 5

 6 FA553064103 Corporate equities -0.4 2.6 1.9 7.7 0.0 0.0 -0.2 16.7 7.5 6

 7 FA554090005 Net share issues (liabilities) 1.9 5.9 2.7 11.3 -0.7 -0.2 0.5 27.0 11.6 7

 Memo:

 Net acquisition of financial assets by investment objective:

 8 FA554091603 Domestic equity funds -0.4 0.8 2.0 7.7 0.0 0.0 0.1 16.9 6.8 8

 9 FA554092603 World equity funds -0.1 1.8 -0.1 -0.0 0.0 -0.0 -0.3 -0.2 0.7 9

 10 FA554091303 Domestic taxable bond funds 0.3 1.3 0.6 -0.2 -0.5 -0.2 3.1 0.2 2.9 10

 11 FA554091203 Municipal bond funds 2.0 1.7 -0.3 0.5 -0.2 -0.0 -1.5 1.5 1.1 11

 12 FA554092303 World bond funds -0.0 0.3 0.6 3.3 0.0 0.0 -0.9 8.6 0.0 12

F.124 Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA564090005 Net acquisition of financial assets 311.0 322.6 500.9 371.4 616.7 454.2 561.3 1075.9 1076.4 1

 2 FA564022005 Debt securities 99.0 148.3 202.9 43.2 340.9 225.4 201.9 172.6 251.3 2

 3 FA563061103 Treasury securities 58.7 44.1 33.7 81.8 29.9 15.6 7.4 43.3 63.1 3

 4 FA563062003 Municipal securities 6.6 10.5 14.2 3.8 15.9 15.0 22.0 21.0 24.3 4

 5 FA563063003 Corporate and foreign bonds 33.6 93.7 155.0 -42.4 295.1 194.8 172.5 108.3 163.9 5

 6 FA563064100 Corporate equities 210.4 165.9 254.3 282.0 180.8 172.9 381.5 922.8 804.7 6

 7 FA563093003 Miscellaneous assets (1) 1.7 8.4 43.7 46.2 94.9 55.9 -22.2 -19.6 20.4 7

 8 FA564090005 Net share issues (liabilities) 311.0 322.6 500.9 371.4 616.7 454.2 561.3 1075.9 1076.4 8

 Memo:

 Net acquisition of financial assets by investment objective:

 9 FA564091600 Domestic equity funds 139.1 132.7 189.1 304.3 186.7 9.8 255.7 637.1 521.0 9

 10 FA564092603 World equity funds 70.3 29.8 62.5 -1.0 -58.3 89.9 219.6 311.8 210.1 10

 11 FA563093003 Commodity funds (1) 1.7 8.4 43.7 46.2 94.9 55.9 -22.2 -19.6 20.4 11

 12 FA564091403 Hybrid funds 1.7 5.5 4.2 2.4 1.6 4.6 8.0 -0.7 9.1 12

 13 FA564091303 Taxable bond funds 91.7 135.8 187.2 38.5 324.4 208.7 177.1 151.9 224.1 13

 14 FA564091203 Municipal bond funds 6.6 10.4 14.2 3.8 15.9 15.0 22.0 21.0 24.2 14

(1) Investments primarily in commodities, currencies, and futures.
Transactions

Z.1, September 23, 2021 41

F.125 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA406000105 Gross saving 6.1 5.6 5.6 6.4 4.9 5.4 5.6 5.6 5.6 1

 2 FA405013005 Fixed nonresidential investment 0.9 0.8 0.4 0.4 0.4 0.4 0.4 0.4 0.5 2

 3 FA404090005 Net acquisition of financial assets 112.6 199.7 594.9 1404.7 -232.2 418.5 788.6 860.3 489.2 3

 4 FA403020005 Checkable deposits and currency -12.6 -2.2 57.8 429.4 -283.7 -53.7 139.3 245.7 -341.1 4

 5 FA403030005 Time and savings deposits 12.7 -4.4 -7.0 0.7 -11.0 -19.0 1.3 -6.4 -3.7 5

 6 FA402050005 Federal funds and security repos -25.0 24.6 17.3 -165.0 284.4 -72.4 22.3 -262.8 439.9 6

 7 FA404022005 Debt securities 4.0 52.8 46.7 -8.1 251.2 57.9 -114.3 -113.0 -102.6 7

 8 FA403069105 Open market paper 0.5 0.3 0.2 4.2 -2.8 -5.2 4.4 -1.3 -6.3 8

 9 FA403061105 Treasury securities 15.2 52.0 78.9 8.9 255.1 103.9 -52.2 -74.8 -67.1 9

 10 FA403061705 Agency- and GSE-backed securities -5.1 3.8 -29.3 -16.6 -0.5 -37.7 -62.5 -34.8 -27.1 10

 11 FA403062005 Municipal securities -0.7 -0.6 -0.5 -0.2 -0.7 -0.2 -1.0 -0.2 -0.3 11

 12 FA403063005 Corporate and foreign bonds -6.0 -2.7 -2.6 -4.5 0.1 -2.9 -3.0 -2.0 -1.8 12

 13 FA404023005 Loans 149.3 96.7 417.7 1056.3 -552.6 439.9 727.2 958.5 595.3 13

 14 FA403069305 Other loans and advances 4.2 -83.2 -215.1 784.9 -1140.8 -267.6 -237.1 64.0 -266.9 14

 15 FA403069385 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA403069345 Farm Credit System 6.8 7.4 13.5 5.3 13.0 15.0 20.6 2.1 -1.7 16

 17 FA403069330 FHLB loans -2.6 -90.6 -228.6 779.6 -1153.8 -282.6 -257.7 61.9 -265.1 17

 18 FA403065005 Mortgages 145.1 180.0 632.9 271.4 588.2 707.5 964.3 894.5 862.1 18

 19 FA403065105 One-to-four-family residential 113.4 135.2 570.0 246.0 498.6 681.2 854.1 860.8 865.7 19

 20 FA403065195 Consolidated trusts (2) 164.0 154.2 532.9 225.2 451.3 638.2 816.7 870.0 1150.3 20

 21 FA403065185 Other -50.7 -19.0 37.1 20.8 47.3 42.9 37.4 -9.2 -284.6 21

 22 FA403065405 Multifamily residential 25.8 31.2 55.4 18.3 81.3 19.2 102.9 29.4 -9.5 22

 23 FA403065495 Consolidated trusts (2) 31.1 37.3 51.9 32.1 54.8 41.6 79.1 65.9 18.2 23

 24 FA403065485 Other -5.3 -6.2 3.5 -13.8 26.5 -22.4 23.8 -36.5 -27.7 24

 25 FA403065605 Farm 5.9 13.6 7.5 7.1 8.3 7.1 7.3 4.3 5.9 25

 26 FA403066005 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA403093005 Miscellaneous assets -15.7 32.1 62.3 91.3 79.5 65.8 12.8 38.3 -98.5 27

 28 FA404194005 Net increase in liabilities and equity 86.9 203.1 634.9 1437.2 -288.1 547.0 843.3 620.6 432.2 28

 29 FA404190005 Net increase in liabilities 82.5 207.3 641.9 1409.7 -249.9 557.3 850.4 624.2 433.9 29

 30 FA402150005 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.4 30

 31 FA403161705 Debt securities (GSE issues) (3) 81.1 204.9 635.9 1388.3 -177.4 505.6 827.2 665.9 483.5 31

 32 FA403161795 Consolidated trusts (2) 195.1 191.5 584.8 257.4 506.1 679.8 895.8 935.9 1168.5 32

 33 FA403161785 Other -114.0 13.3 51.1 1131.0 -683.5 -174.2 -68.6 -269.9 -685.0 33

 34 FA403169283 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 FA403190005 Miscellaneous liabilities 1.4 2.4 5.9 21.4 -72.5 51.7 23.2 -42.2 -49.2 35

 36 FA403164105 Net equity issues (corporate equities) 4.5 -4.2 -7.0 27.6 -38.2 -10.2 -7.2 -3.5 -1.7 36

 37 FA407005005 Discrepancy -20.5 8.2 45.2 38.6 -51.4 133.6 59.9 -234.5 -51.9 37

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.126) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (F.125).

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Such issues are classified as agency- and GSE-backed securities.

F.126 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA413065005 Net acquisition of financial assets 165.8 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 1

 2 FA413065105 One-to-four-family residential mortgages 123.0 76.0 -15.8 106.0 -54.8 -42.1 -72.4 -28.7 67.3 2

 3 FA413065405 Multifamily residential mortgages 43.0 38.1 38.3 11.5 10.5 73.0 58.0 62.8 50.1 3

 4 FA413065505 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA413065605 Farm mortgages -0.2 -0.4 -0.2 -0.2 -0.1 -0.3 -0.2 -0.4 0.1 5

 6 FA413065005 Net increase in pool securities (liabilities)(2) 165.8 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 6

(1) Ginnie Mae, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.126) are consolidated

 on Fannie Mae’s and Freddie Mac’s balance sheets (table F.125). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed

 CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
Transactions

42 Z.1, September 23, 2021

F.127 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA676330023 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA675013025 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA674090005 Net acquisition of financial assets 14.3 69.9 50.7 240.5 -48.0 5.5 4.6 40.3 74.2 3

 4 FA674022005 Debt securities 8.1 12.6 -2.7 -4.0 -5.8 -4.1 3.1 -7.0 -4.6 4

 5 FA673061103 Treasury securities 8.1 12.6 -2.7 -4.0 -5.8 -4.1 3.1 -7.0 -4.6 5

 6 FA673061703 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FA674023005 Loans 1.6 50.5 32.3 211.6 -54.0 -4.7 -23.9 9.6 11.7 7

 8 FA673069005 Other loans and advances -3.9 38.0 46.0 99.2 8.6 26.9 49.2 9.0 36.2 8

 9 FA673065005 Mortgages (2) 17.4 14.9 -12.5 114.6 -60.8 -28.4 -75.2 2.0 -24.1 9

 10 FA673065105 One-to-four-family residential 4.8 -5.0 -31.5 43.8 -42.9 -43.5 -83.3 -57.8 -42.8 10

 11 FA673065405 Multifamily residential 0.5 2.5 5.0 26.7 0.8 -4.1 -3.5 5.8 2.0 11

 12 FA673065505 Commercial 12.2 17.4 14.0 44.1 -18.7 19.3 11.5 54.0 16.8 12

 13 FA673066000 Consumer credit -11.9 -2.4 -1.2 -2.2 -1.8 -3.2 2.2 -1.3 -0.4 13

 14 FA673070003 Trade credit 1.4 0.6 0.2 9.5 -5.9 -11.3 8.5 -5.2 7.4 14

 15 FA673090543 Miscellaneous assets (funding agreements) (3) 3.1 6.2 20.9 23.4 17.7 25.7 16.8 42.8 59.6 15

 16 FA674122005 Net increase in liabilities 14.3 69.9 50.7 240.5 -48.0 5.5 4.6 40.3 74.2 16

 17 FA673169105 Commercial paper 15.9 -5.0 13.6 9.9 -0.8 26.5 18.6 -28.2 -38.6 17

 18 FA673163005 Corporate bonds (net) (4) -1.6 74.9 37.1 230.6 -47.2 -20.9 -14.0 68.5 112.9 18

 19 FA677005005 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Memo:

 Securitized assets not included above

 20 FA675013263 Consumer leases (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA643065045 REIT assets (6) 12.2 29.2 -10.8 -80.2 23.7 14.2 -0.8 -12.9 42.3 21

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Net issuance less net acquisition of corporate bonds held as assets.

(5) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation is included in line 1, and fixed investment is included in line 2.

(6) Included in table F.129.
Transactions

Z.1, September 23, 2021 43

F.128 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA616000105 Gross saving less net capital transfers paid (2) 85.6 117.9 116.6 111.1 111.8 118.0 125.6 120.8 126.7 1

 2 FA615013005 Fixed nonresidential investment 86.2 82.0 58.4 59.3 53.7 58.9 61.8 64.2 65.6 2

 3 FA614090005 Net acquisition of financial assets 6.2 -5.5 38.4 201.8 -15.3 -31.0 -1.8 116.8 137.8 3

 4 FA613020003 Checkable deposits and currency -4.3 -2.0 4.2 16.9 17.1 -14.9 -2.4 1.3 -0.1 4

 5 FA613030003 Time and savings deposits -13.0 -6.0 12.5 50.8 51.2 -44.8 -7.2 3.8 -0.3 5

 6 FA613063003 Debt securities (corporate and foreign bonds) -4.5 -0.5 9.7 7.4 16.4 5.9 9.2 5.9 34.2 6

 7 FA614023005 Loans -6.0 -4.5 -9.9 16.0 -100.2 35.8 8.7 45.9 62.9 7

 8 FA613069505 Other loans and advances 9.8 -10.4 -16.4 51.5 -112.2 5.3 -10.4 8.6 27.6 8

 9 FA613065000 Mortgages -8.9 2.5 -7.2 -16.2 -10.9 -14.6 13.1 -14.5 -3.6 9

 10 FA613066005 Consumer credit -6.9 3.4 13.7 -19.2 22.8 45.1 6.0 51.9 38.8 10

 11 FA613092003 U.S. direct investment abroad 8.0 10.5 10.3 50.0 -20.2 11.0 0.3 66.9 10.5 11

 12 FA613090005 Miscellaneous assets 26.1 -2.9 11.6 60.6 20.5 -24.1 -10.5 -7.0 30.6 12

 13 FA614194005 Net increase in liabilities and equity -14.8 -18.2 29.2 204.5 7.7 -85.1 -10.5 50.0 144.2 13

 14 FA614190005 Net increase in liabilities -25.0 -33.0 20.9 197.6 2.6 -96.0 -20.5 39.9 137.8 14

 15 FA614122005 Debt securities 44.1 -43.8 -20.2 100.8 -46.9 -119.3 -15.3 -21.0 18.1 15

 16 FA613169100 Open market paper -7.5 -1.1 -21.7 -2.4 -49.2 -22.4 -12.9 2.6 -6.6 16

 17 FA613163005 Corporate bonds 51.6 -42.7 1.5 103.1 2.3 -96.9 -2.4 -23.5 24.7 17

 18 FA614123005 Loans -0.4 5.9 24.8 27.7 25.9 32.6 12.9 -11.9 163.0 18

 19 FA613168005 Depository institution loans n.e.c. 2.3 5.6 25.3 27.9 27.3 32.1 13.8 -10.3 162.9 19

 20 FA613169005 Other loans and advances -2.7 0.4 -0.5 -0.2 -1.4 0.5 -0.9 -1.6 0.0 20

 21 FA613178005 Taxes payable -3.0 -0.4 -0.5 0.3 0.6 -2.9 0.0 1.9 -3.6 21

 22 FA613192305 Foreign direct investment: intercompany debt -0.4 0.3 -0.1 -0.6 -0.2 0.4 -0.0 1.0 -0.6 22

 23 FA613190005 Miscellaneous liabilities -65.3 4.9 17.0 69.4 23.3 -6.8 -18.1 69.9 -39.0 23

 24 FA613194003 Investment by parent -10.9 -5.5 -5.0 -8.4 -15.0 -15.2 18.6 -2.7 -41.4 24

 25 FA613193005 Other -54.4 10.4 21.9 77.8 38.3 8.4 -36.7 72.5 2.4 25

 26 FA613192103 Net equity issues (foreign direct investment) 10.2 14.8 8.2 6.9 5.1 10.9 10.0 10.1 6.4 26

 27 FA617005005 Discrepancy -21.6 23.3 48.9 54.5 81.1 5.1 55.0 -10.2 67.5 27

 Memo:

 28 FA613066303 Consumer leases not included above (3) 0.6 -2.4 -9.4 -10.0 -21.3 -6.2 -0.2 3.1 4.7 28

(1) Includes retail captive finance companies and mortgage companies.

(2) Net capital transfers paid from table F.5, line 57.

(3) See footnote (5), table F.127.
Transactions

44 Z.1, September 23, 2021

F.129 Real Estate Investment Trusts (REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA646000105 Gross saving -53.2 -59.5 -50.2 -11.0 -62.2 -76.0 -51.5 -49.1 -53.8 1

 2 FA125013005 Fixed nonresidential investment 13.3 12.2 12.2 13.5 11.8 11.8 11.8 12.1 12.3 2

 3 FA125012063 Multifamily residential investment 3.5 7.1 3.0 5.9 -0.7 2.8 3.8 1.9 11.2 3

 4 FA644090005 Net acquisition of financial assets 67.2 77.4 -140.9 -472.6 -86.1 -27.5 22.4 33.7 52.9 4

 5 FA643020005 Checkable deposits and currency -4.8 8.9 17.1 160.2 -22.2 -45.8 -24.1 -4.0 6.6 5

 6 FA644022005 Debt securities 30.8 46.9 -154.6 -596.4 -19.6 -15.9 13.6 -27.2 -38.4 6

 7 FA643061773 Agency- and GSE-backed securities 19.4 50.3 -129.4 -541.5 9.3 -0.7 15.3 -25.4 -46.0 7

 8 FA643063005 Corporate and foreign bonds 11.4 -3.4 -25.2 -55.0 -28.9 -15.2 -1.7 -1.8 7.6 8

 9 FA643065005 Loans (mortgages) 20.2 18.9 -14.6 -92.3 -11.2 48.6 -3.5 25.8 63.6 9

 10 FA643065105 One-to-four-family residential 7.7 3.3 -24.3 -88.7 -20.1 16.0 -4.3 11.1 23.6 10

 11 FA643065405 Multifamily residential 1.4 7.4 -4.1 -23.5 -0.8 3.9 4.1 4.2 6.7 11

 12 FA643065505 Commercial 11.1 8.3 13.8 20.0 9.7 28.6 -3.3 10.5 33.3 12

 13 FA643090005 Miscellaneous assets 21.0 2.6 11.2 55.9 -33.1 -14.3 36.4 39.1 21.0 13

 14 FA644194005 Net increase in liabilities and equity 99.0 162.3 -89.1 -352.3 -72.3 -6.9 75.2 38.3 102.4 14

 15 FA644190005 Net increase in liabilities 77.5 125.7 -111.0 -376.9 -99.0 -25.5 57.6 7.0 59.3 15

 16 FA642151073 Security repurchase agreements 43.3 71.8 -157.6 -478.3 -120.0 -38.1 5.8 -13.4 -30.3 16

 17 FA644122005 Debt securities 31.0 69.3 42.2 -37.8 145.1 33.8 27.5 24.9 94.8 17

 18 FA643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FA643163005 Corporate bonds 31.0 69.3 42.2 -37.8 145.1 33.8 27.5 24.9 94.8 19

 20 FA644123005 Loans -12.9 -8.2 -7.6 144.0 -134.1 -47.4 7.1 -21.8 -7.9 20

 21 FA643168005 Depository institution loans n.e.c. 3.3 -9.2 -0.5 156.5 -114.0 -49.7 5.4 0.6 -5.7 21

 22 FA643169373 Other loans and advances -0.4 -0.9 -8.2 -15.6 -11.7 -5.5 -0.2 0.0 -0.0 22

 23 FA123165005 Mortgages -15.8 1.9 1.1 3.1 -8.4 7.9 1.9 -22.3 -2.2 23

 24 FA643193005 Miscellaneous liabilities 16.1 -7.2 12.1 -4.9 10.0 26.1 17.1 17.4 2.8 24

 25 FA643164103 Net equity issues (corporate equity) 21.5 36.7 21.9 24.6 26.7 18.6 17.7 31.3 43.1 25

 26 FA647005005 Discrepancy -38.1 6.2 -13.5 89.7 -59.6 -70.0 -14.2 -58.6 -27.8 26

 Memo:

 27 FA643065045 Securitized assets included above 12.2 29.2 -10.8 -80.2 23.7 14.2 -0.8 -12.9 42.3 27

 28 FA643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA643065163 One-to-four-family residential mortgages 5.2 9.6 -16.8 -71.3 0.8 3.2 0.1 -7.8 8.0 29

 30 FA643065443 Multifamily residential mortgages 1.6 5.0 -4.3 -21.5 0.9 3.5 -0.1 0.4 5.1 30

 31 FA643065543 Commercial mortgages 5.3 14.7 10.3 12.7 22.0 7.6 -0.9 -5.4 29.2 31

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.129.e and F.129.m.
Transactions

Z.1, September 23, 2021 45

F.129.e Equity Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA124090005 Net acquisition of financial assets -8.2 8.3 32.2 159.4 -4.6 -30.9 4.8 26.9 60.4 1

 2 FA123020003 Checkable deposits and currency -5.4 6.5 11.6 127.5 -10.0 -48.8 -22.2 -0.5 5.9 2

 3 FA123063003 Debt securities (corporate and foreign bonds) 3.2 0.0 1.3 0.8 1.9 0.6 1.8 8.9 8.0 3

 4 FA123065005 Loans (mortgages) -5.7 3.7 6.0 3.1 0.8 18.9 1.2 9.6 -2.4 4

 5 FA123065103 One-to-four-family residential -0.0 -0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 5

 6 FA123065403 Multifamily residential -0.3 0.5 0.6 -0.8 0.1 0.2 2.7 2.2 -0.1 6

 7 FA123065503 Commercial -5.4 3.3 5.4 3.8 0.7 18.7 -1.5 7.4 -2.3 7

 8 FA123093005 Miscellaneous assets -0.2 -1.9 13.3 28.0 2.7 -1.6 24.0 8.8 48.9 8

 9 FA124190005 Net increase in liabilities 5.5 35.8 51.4 185.2 -3.5 -20.5 44.3 4.3 69.8 9

 10 FA123163003 Debt securities (corporate bonds) 17.2 36.0 44.2 22.8 112.6 12.1 29.2 29.4 43.2 10

 11 FA124123005 Loans -12.7 -4.0 0.0 154.0 -120.0 -40.2 6.3 -20.7 -7.1 11

 12 FA123168003 Depository institution loans n.e.c. 3.1 -5.8 -1.1 151.0 -111.6 -48.1 4.4 1.6 -4.9 12

 13 FA123165005 Mortgages -15.8 1.9 1.1 3.1 -8.4 7.9 1.9 -22.3 -2.2 13

 14 FA123165403 Multifamily residential -4.4 -1.1 1.0 2.5 1.4 -3.3 3.3 0.5 3.2 14

 15 FA123165503 Commercial -11.4 3.0 0.1 0.5 -9.8 11.2 -1.4 -22.8 -5.4 15

 16 FA123193005 Miscellaneous liabilities 1.0 3.7 7.2 8.4 4.0 7.6 8.7 -4.4 33.8 16

F.129.m Mortgage Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA644090075 Net acquisition of financial assets 75.3 69.0 -173.1 -631.9 -81.5 3.5 17.6 6.9 -7.5 1

 2 FA643020073 Checkable deposits and currency 0.7 2.4 5.4 32.7 -12.2 3.0 -1.9 -3.5 0.8 2

 3 FA644022075 Debt securities 27.6 46.9 -155.9 -597.2 -21.5 -16.5 11.8 -36.1 -46.4 3

 4 FA643061773 Agency- and GSE-backed securities 19.4 50.3 -129.4 -541.5 9.3 -0.7 15.3 -25.4 -46.0 4

 5 FA643063073 Corporate and foreign bonds 8.2 -3.4 -26.5 -55.8 -30.8 -15.8 -3.5 -10.7 -0.4 5

 6 FA643065075 Loans (mortgages) 25.9 15.2 -20.6 -95.4 -12.0 29.6 -4.7 16.2 66.1 6

 7 FA643065173 One-to-four-family residential 7.8 3.4 -24.3 -88.8 -20.1 15.9 -4.3 11.0 23.6 7

 8 FA643065473 Multifamily residential 1.8 6.9 -4.6 -22.7 -0.9 3.7 1.5 2.0 6.8 8

 9 FA643065573 Commercial 16.4 4.9 8.4 16.2 9.1 10.0 -1.8 3.1 35.7 9

 10 FA643090075 Miscellaneous assets 21.2 4.5 -2.1 27.9 -35.8 -12.6 12.3 30.3 -27.9 10

 11 FA644190075 Net increase in liabilities 71.9 89.9 -162.3 -562.1 -95.6 -5.0 13.3 2.8 -10.5 11

 12 FA642151073 Security repurchase agreements 43.3 71.8 -157.6 -478.3 -120.0 -38.1 5.8 -13.4 -30.3 12

 13 FA644122075 Debt securities 13.8 33.3 -2.0 -60.6 32.6 21.6 -1.7 -4.6 51.6 13

 14 FA643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA643163075 Corporate bonds 13.8 33.3 -2.0 -60.6 32.6 21.6 -1.7 -4.6 51.6 15

 16 FA644123075 Loans -0.3 -4.3 -7.6 -10.0 -14.1 -7.1 0.8 -1.0 -0.8 16

 17 FA643168073 Depository institution loans n.e.c. 0.2 -3.4 0.6 5.5 -2.4 -1.6 1.0 -1.0 -0.8 17

 18 FA643169373 Other loans and advances -0.4 -0.9 -8.2 -15.6 -11.7 -5.5 -0.2 0.0 -0.0 18

 19 FA643193075 Miscellaneous liabilities 15.1 -10.9 4.9 -13.3 6.0 18.6 8.4 21.8 -31.0 19

 Memo:

 20 FA643065045 Securitized assets included above 12.2 29.2 -10.8 -80.2 23.7 14.2 -0.8 -12.9 42.3 20

 21 FA643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA643065163 One-to-four-family residential mortgages 5.2 9.6 -16.8 -71.3 0.8 3.2 0.1 -7.8 8.0 22

 23 FA643065443 Multifamily residential mortgages 1.6 5.0 -4.3 -21.5 0.9 3.5 -0.1 0.4 5.1 23

 24 FA643065543 Commercial mortgages 5.3 14.7 10.3 12.7 22.0 7.6 -0.9 -5.4 29.2 24
Transactions

46 Z.1, September 23, 2021

F.130 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA666000105 Gross saving less net capital transfers paid (1) 21.9 -14.0 -18.2 -6.9 -25.7 -28.3 -11.8 -15.4 -10.8 1

 2 FA665013005 Fixed nonresidential investment 34.5 40.0 40.9 42.2 39.5 40.5 41.4 42.9 44.1 2

 3 FA664090005 Net acquisition of financial assets 253.8 115.1 227.4 1296.4 -943.6 10.2 546.6 -510.1 159.7 3

 4 FA663020003 Checkable deposits and currency 7.3 -1.0 13.2 147.0 -92.1 -20.1 18.0 -6.3 -17.0 4

 5 FA662051003 Security repurchase agreements 206.2 80.8 -73.8 348.1 -803.2 -12.6 172.3 -336.3 -418.4 5

 6 FA664022005 Debt securities 149.2 -52.5 -48.2 231.6 -23.5 -167.0 -233.7 -774.2 93.6 6

 7 FA663069103 Open market paper 2.1 -2.9 -0.3 48.7 -30.8 -7.9 -11.3 4.0 9.9 7

 8 FA663061105 Treasury securities 131.7 -47.8 -1.5 59.1 149.0 -141.3 -72.7 -401.2 54.1 8

 9 FA663061705 Agency- and GSE-backed securities 20.4 17.9 -43.4 124.1 -120.1 -83.5 -94.3 -351.7 30.1 9

 10 FA663062003 Municipal securities -5.3 -5.2 -9.9 -10.0 -21.1 6.7 -15.2 8.6 7.1 10

 11 FA663063005 Corporate and foreign bonds 0.3 -14.5 7.0 9.7 -0.5 58.9 -40.2 -33.9 -7.5 11

 12 FA663069005 Loans (other loans and advances) -26.6 32.5 165.3 86.4 -84.4 267.2 391.9 361.8 92.5 12

 13 FA663064103 Corporate equities -19.9 -22.8 7.0 54.3 18.2 37.7 -82.1 154.6 -111.7 13

 14 FA663092003 U.S. direct investment abroad -1.4 18.8 10.7 21.7 11.1 2.6 7.1 -17.1 18.4 14

 15 FA663090005 Miscellaneous assets -60.9 59.4 153.3 407.2 30.2 -97.5 273.2 107.5 502.4 15

 16 FA664194005 Net increase in liabilities and equity 249.0 183.3 253.7 1206.7 -885.8 51.6 642.5 -534.7 209.6 16

 17 FA664190005 Net increase in liabilities 257.3 106.7 207.7 1284.5 -977.7 20.9 503.1 -561.1 136.3 17

 18 FA662151003 Security repurchase agreements 305.9 56.6 19.3 243.8 -542.1 131.2 244.1 -802.4 -92.4 18

 19 FA663163003 Debt securities (corporate bonds) -1.7 -10.0 9.9 331.7 -308.7 -57.2 73.8 49.8 32.7 19

 20 FA664123005 Loans 2.1 23.4 130.9 831.6 -321.2 -152.3 165.7 108.4 132.6 20

 21 FA663168005 Depository institution loans n.e.c. 4.2 -2.3 10.2 250.3 -240.7 -22.9 54.0 28.6 67.2 21

 22 FA153067005 Other loans and advances -2.0 25.7 120.8 581.3 -80.6 -129.4 111.7 79.8 65.3 22

 23 FA663170003 Trade payables -27.8 -1.0 2.8 17.4 -9.3 -4.3 7.3 4.6 -15.1 23

 24 FA663178005 Taxes payable 0.6 -1.4 2.2 5.3 8.5 -4.6 -0.5 3.2 -0.7 24

 25 FA663192305 Foreign direct investment: intercompany debt -4.8 3.4 1.3 -8.3 6.9 1.3 5.2 0.5 13.4 25

 26 FA663190005 Miscellaneous liabilities -17.0 35.8 41.4 -137.1 188.2 106.8 7.7 74.8 65.8 26

 27 FA663194005 Investment by parent companies -23.2 21.5 81.4 264.2 -189.6 23.3 227.6 7.7 230.5 27

 28 FA663193005 Other 6.2 14.3 -40.0 -401.2 377.8 83.5 -220.0 67.1 -164.6 28

 29 FA663181125 Net equity issues -8.3 76.6 46.1 -77.8 91.9 30.7 139.4 26.4 73.3 29

 30 FA663164103 Corporate equities -2.3 22.1 15.6 31.5 -21.7 0.7 51.9 4.0 1.8 30

 31 FA662090003 Proprietors’ net investment 9.5 5.2 6.9 5.3 14.6 -5.5 13.0 13.8 16.8 31

 32 FA663192103 Foreign direct investment: equity -15.6 49.3 23.6 -114.7 99.1 35.4 74.6 8.6 54.7 32

 33 FA667005005 Discrepancy -17.4 14.2 -32.8 -138.9 -7.4 -27.4 42.6 -82.9 -5.0 33

(1) Net capital transfers paid from table F.5, line 58.
Transactions

Z.1, September 23, 2021 47

F.131 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA736000105 Gross saving 174.4 172.6 121.3 174.5 80.9 70.3 159.7 161.0 144.0 1

 2 FA735013005 Fixed nonresidential investment 39.1 41.3 41.7 42.0 40.2 41.7 42.9 44.6 46.0 2

 3 FA734090005 Net acquisition of financial assets -16.4 142.8 259.5 228.7 431.5 -18.9 396.5 -28.1 479.8 3

 4 FA733030003 Time and savings deposits -11.1 9.7 128.5 190.8 394.3 -46.7 -24.2 -299.9 -4.3 4

 5 FA732051003 Security repurchase agreements -3.7 0.4 39.4 0.2 79.0 58.9 19.4 -47.7 -54.4 5

 6 FA734022605 Debt securities 31.1 29.0 -8.6 -39.9 9.1 -32.0 28.5 115.1 -13.7 6

 7 FA733061103 Treasury securities 12.6 21.7 3.1 -28.3 6.0 -0.1 34.8 104.1 4.9 7

 8 FA733061703 Agency- and GSE-backed securities 14.0 2.3 -9.3 -13.5 -7.7 -6.5 -9.2 -9.5 -7.2 8

 9 FA733063003 Corporate and foreign bonds 4.6 5.0 -2.4 2.0 10.8 -25.4 2.9 20.5 -11.3 9

 10 FA733069005 Loans (other loans and advances) -18.8 13.4 -11.1 44.3 -38.7 -57.7 8.0 58.3 33.7 10

 11 FA733040005 Life insurance reserves 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 11

 12 FA733090005 Miscellaneous assets -18.0 86.2 107.2 29.4 -16.1 54.7 360.8 142.2 514.5 12

 13 FA763194735 Net trans. with depository institution affiliates 13.5 93.6 72.7 -145.8 112.1 110.7 213.6 56.7 265.2 13

 14 FA513194733 Net trans. with property-casualty ins. co. affiliates 1.2 0.8 -3.9 -0.6 -19.3 4.4 -0.2 2.9 3.1 14

 15 FA543194733 Net trans. with life insurance company affiliates -11.0 1.1 -5.9 -23.7 0.0 0.0 0.0 0.0 0.0 15

 16 FA613194733 Net trans. with finance company affiliates -13.3 -4.8 -2.0 -3.4 -1.0 0.8 -4.2 -2.3 -3.0 16

 17 FA663194735 Net trans. with broker and dealer affiliates -23.2 21.5 81.4 264.2 -189.6 23.3 227.6 7.7 230.5 17

 18 FA263194735 Net trans. with foreign affiliates 24.9 -1.2 -31.6 -46.3 69.1 -65.8 -83.5 70.2 11.1 18

 19 FA733093005 Other -10.0 -24.8 -3.4 -15.1 12.6 -18.7 7.5 6.9 7.6 19

 20 FA734194005 Net increase in liabilities and equity -211.2 -159.2 140.8 116.1 320.1 -74.5 201.5 -219.6 217.3 20

 21 FA734190005 Net increase in liabilities -151.4 13.1 180.7 97.5 392.5 -46.7 279.5 -144.9 380.6 21

 22 FA732151003 Security repurchase agreements -0.0 -0.0 -0.0 -0.0 0.0 0.1 -0.1 0.4 -0.2 22

 23 FA734122005 Debt securities -46.9 40.9 131.7 370.0 274.8 -151.5 33.6 -157.8 318.7 23

 24 FA733169103 Commercial paper 1.5 -0.1 -0.7 -1.8 -2.1 -5.3 6.3 1.5 4.0 24

 25 FA733163003 Corporate bonds -48.4 41.0 132.4 371.8 276.9 -146.2 27.3 -159.3 314.6 25

 26 FA733192305 Foreign direct investment: intercompany debt (2) -17.7 -20.6 8.8 4.9 4.2 1.3 24.7 16.9 3.8 26

 27 FA733193005 Miscellaneous liabilities -86.7 -7.2 40.2 -277.4 113.5 103.5 221.2 -4.3 58.3 27

 28 FA733164005 Equity, etc. -98.3 -35.0 50.0 -222.3 75.3 126.7 220.2 20.7 67.8 28

 29 FA733193015 Other 11.6 27.8 -9.8 -55.0 38.2 -23.2 1.0 -25.1 -9.4 29

 30 FA733181105 Net equity issuance -59.8 -172.3 -39.9 18.7 -72.4 -27.8 -78.0 -74.7 -163.3 30

 31 FA733164103 Corporate equity issues -111.3 -149.8 -18.2 -139.4 37.5 6.9 22.2 -57.3 -103.9 31

 32 FA733192103 Foreign direct investment: equity (2) 51.6 -22.5 -21.7 158.1 -109.9 -34.7 -100.2 -17.4 -59.4 32

 33 FA737005005 Discrepancy -59.6 -170.6 -39.0 19.9 -70.8 -27.0 -78.2 -75.1 -164.5 33

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.

(2) Investment in U.S. Intermediate Holding Companies.
Transactions

48 Z.1, September 23, 2021

F.132 Other Financial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA504090005 Net acquisition of financial assets 40.8 -25.3 374.0 620.3 379.3 205.7 290.6 203.5 -8.7 1

 2 FA713129005 Checkable deposits and currency -3.3 -1.1 93.0 396.8 -107.1 48.9 33.4 126.2 61.3 2

 3 FA503034005 Money market fund shares 15.6 38.5 160.8 402.4 283.3 -32.8 -9.9 134.6 71.6 3

 4 FA502051003 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA504022005 Debt securities -13.9 -60.6 116.5 -213.4 222.9 214.7 241.7 -216.9 -37.1 5

 6 FA503069105 Open market paper -12.0 -60.8 2.2 -236.8 -172.9 214.8 203.6 -6.0 -49.6 6

 7 FA503061303 Nonmarketable Treasury securities 0.0 0.0 95.7 0.0 382.5 0.1 0.1 -212.4 -34.0 7

 8 FA503063005 Corporate and foreign bonds -1.9 0.2 12.4 23.4 8.5 -2.0 19.5 2.4 51.8 8

 9 FA503062003 Municipal securities 0.0 0.0 6.3 0.0 4.8 1.8 18.5 -0.9 -5.1 9

 10 FA503069005 Loans (other loans and advances) -0.9 1.4 22.5 23.1 -8.1 14.1 61.1 -8.6 -5.0 10

 11 FA503064105 Corporate equities 0.0 0.0 8.8 0.0 31.9 2.6 0.6 -1.1 -29.8 11

 12 FA503094505 Miscellaneous assets 43.4 -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 12

 13 FA753194503 Investment in foreign banking offices 43.4 -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 13

 14 FA663194505 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA504194005 Net increase in liabilities and equity 40.8 -25.3 374.0 620.3 379.3 205.7 290.6 203.5 -8.7 15

 16 FA504190005 Net increase in liabilities 40.8 -25.3 374.0 620.3 379.3 205.7 290.6 203.5 -8.7 16

 17 FA504122005 Debt securities 9.3 -5.7 -24.7 -71.3 -31.3 -20.3 23.9 177.0 -94.8 17

 18 FA503169105 Open market paper 9.3 -5.7 -24.7 -71.3 -31.3 -20.3 23.9 177.0 -94.8 18

 19 FA503163003 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA504123005 Loans 0.0 0.0 40.7 0.0 60.6 19.3 82.8 -7.0 -8.2 20

 21 FA713068505 Depository institution loans n.e.c. 0.0 0.0 40.7 0.0 60.6 19.3 82.8 -7.0 -8.2 21

 22 FA503169205 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA503192003 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA503190005 Miscellaneous liabilities 31.5 -19.6 358.1 691.5 350.0 206.7 183.9 33.5 94.3 24

 25 FA663097005 Securities loaned (net) -18.9 1.7 68.1 234.1 12.8 -123.9 149.5 34.6 364.3 25

 26 FA503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA503194205 Equity in Federal Reserve facilities (2) 0.0 0.0 112.5 0.0 450.0 0.0 0.0 -248.9 -40.0 27

 28 FA503193005 Other (net) 50.4 -21.3 177.4 457.4 -112.8 330.6 34.4 247.7 -230.0 28

 29 FA503181105 Net equity issuance 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

(1) Includes funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, funds associated with the Public-Private Investment Program (PPIP), Federal Reserve funding,

 credit, and liquidity facility special purpose vehicles (SPV) created in response to the 2008 Financial Crisis and COVID-19 pandemic, and deposits at Federal Reserve banks of Federal Reserve SPVs and

 designated financial market utilities (DFMU).

(2) U.S. Treasury Exchange Stabilization Fund Economic Recovery Programs investment in Federal Reserve SPVs.
Transactions

Z.1, September 23, 2021 49

F.133 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA266905005 Foreign income from U.S. 4269.9 4324.2 3874.8 4058.6 3386.5 3917.1 4137.0 4374.9 4532.4 1

 2 FA266903001 U.S. imports 3129.7 3116.0 2774.6 2927.3 2346.7 2805.3 3019.1 3184.5 3340.3 2

 3 FA266904101 U.S. income payments to rest of world 847.9 893.9 770.6 809.0 711.5 769.2 792.5 846.7 865.4 3

 4 FA266400101 Curr. taxes and trans. payments to rest of world 292.3 314.3 329.6 322.3 328.3 342.6 325.4 343.7 326.8 4

 5 FA266900005 Foreign outlays to U.S. 3829.6 3844.4 3287.7 3606.6 2858.7 3252.4 3433.3 3569.4 3738.8 5

 6 FA266903011 U.S. exports 2533.5 2519.7 2123.4 2385.5 1807.9 2079.6 2220.7 2311.9 2455.6 6

 7 FA266904001 U.S. income receipts from rest of world 1142.1 1160.3 992.9 1048.9 883.5 996.1 1043.2 1081.6 1110.8 7

 8 FA266400201 Curr. taxes and trans. payments from rest of world 154.0 164.4 171.4 172.1 167.4 176.7 169.5 175.9 172.4 8

 9 FA265440005 - Net capital transfers paid (1) -4.6 -6.8 -6.1 -11.5 -4.1 -4.0 -4.8 -14.4 -3.7 9

 10 FA266000105 Gross saving less net capital transfers paid (2) 444.9 486.6 593.2 463.6 531.9 668.7 708.5 819.9 797.3 10

 11 FA265090005 Gross investment 239.1 296.8 486.4 -309.1 874.2 490.6 889.7 556.9 949.8 11

 12 FA265420005 Nonproduced nonfinancial assets -0.1 -0.1 0.2 -0.4 -0.1 1.3 -0.1 -0.2 0.0 12

 13 FA265000005 Net lending (+) or net borrowing (-) 239.2 296.9 486.2 -308.7 874.2 489.3 889.8 557.1 949.8 13

 14 FA264090005 Net acquisition of financial assets 717.1 549.3 1283.2 2712.2 5.7 477.1 1937.7 1682.8 1875.9 14

 15 FA263011205 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA264016005 Net interbank assets 48.9 -83.3 29.3 1399.2 -742.8 -263.5 -275.6 -456.9 -24.3 17

 18 FA263020005 U.S. checkable deposits and currency 79.5 59.0 155.6 291.2 54.4 133.0 143.6 99.9 54.7 18

 19 FA263030005 U.S. time deposits 37.4 -2.1 97.3 452.8 -107.9 -1.5 45.9 154.3 64.8 19

 20 FA263034003 Money market fund shares 17.3 14.4 2.0 21.6 21.6 -26.5 -8.7 19.3 4.6 20

 21 FA262051005 Security repurchase agreements -31.3 21.3 10.4 487.0 -475.9 -89.0 119.6 313.0 472.4 21

 22 FA264022005 Debt securities 141.9 441.4 44.4 -1291.8 1009.6 -34.3 494.0 759.6 978.6 22

 23 FA263069103 Open market paper -10.2 5.4 -45.3 -119.8 25.3 -73.7 -13.2 67.2 16.0 23

 24 FA263061105 Treasury securities 120.2 223.6 -77.7 -1262.2 480.0 170.8 300.6 516.7 492.2 24

 25 FA263061705 Agency- and GSE-backed securities 95.7 55.0 -47.0 208.0 -217.3 -218.7 40.1 -111.3 -60.2 25

 26 FA263062003 Municipal securities -1.6 4.0 4.8 -3.3 16.5 2.0 3.9 6.8 11.9 26

 27 FA263063005 U.S. corporate bonds (4) -62.2 153.4 209.6 -114.5 705.1 85.3 162.5 280.3 518.7 27

 28 FA263069500 Loans to U.S. corporate business 23.5 97.5 74.8 168.3 26.3 59.8 44.8 98.9 75.9 28

 29 FA263064105 U.S. corporate equities 110.9 -205.4 637.8 860.9 119.8 507.1 1063.3 280.9 -95.5 29

 30 FA263064203 Mutual fund shares 28.7 -53.0 8.6 167.5 -54.8 -9.0 -69.3 87.7 28.1 30

 31 FA263070005 Trade receivables 33.4 18.8 83.5 75.7 99.0 74.8 84.3 24.5 16.6 31

 32 FA543141905 Life insurance reserves -9.3 0.3 -9.1 -8.0 -11.7 -7.7 -9.1 -0.0 0.1 32

 33 FA543151905 Pension entitlements 11.0 0.6 -13.6 -12.0 -17.4 -11.4 -13.6 0.0 0.2 33

 34 FA263092001 Foreign direct investment in U.S. (5) 216.0 238.0 164.4 100.8 90.3 153.2 313.3 295.9 295.2 34

 35 FA263076005 Miscellaneous assets (insurance receivables) 9.1 2.0 -2.1 -1.1 -4.8 -7.9 5.2 5.7 4.5 35

 36 FA264194005 Net increase in liabilities and equity 477.9 252.5 797.0 3020.9 -868.6 -12.2 1047.9 1125.7 926.1 36

 37 FA264190005 Net increase in liabilities 525.2 259.2 224.3 1799.0 -961.3 -699.3 759.0 514.9 50.4 37

 38 FA263111005 U.S. official reserve assets 5.0 4.7 9.0 -1.0 19.8 7.3 9.8 -8.4 1.9 38

 39 FA263191005 U.S. private deposits 66.4 20.3 101.2 697.9 -525.2 246.5 -14.3 131.2 10.3 39

 40 FA262151003 Security repurchase agreements 117.3 113.2 61.4 416.7 -353.5 -101.7 284.0 -532.8 -126.3 40

 41 FA264122005 Debt securities 145.3 112.6 6.6 -939.5 365.6 107.8 492.5 790.7 57.7 41

 42 FA263169105 Commercial paper 6.3 84.4 11.0 -138.0 5.2 91.3 85.6 132.7 12.5 42

 43 FA263163005 Bonds 139.0 28.1 -4.4 -801.5 360.4 16.5 406.9 658.0 45.3 43

 44 FA264123005 Loans 52.4 94.2 63.3 354.2 -150.4 -20.6 70.1 74.2 108.7 44

 45 FA263168005 Depository institution loans n.e.c. 58.2 87.1 66.0 332.9 -120.7 -2.9 54.6 71.4 110.5 45

 46 FA263169005 Other loans and advances -5.8 7.0 -2.7 21.3 -29.7 -17.7 15.6 2.9 -1.8 46

 47 FA263170005 Trade payables 2.7 2.2 -0.4 -14.3 -5.3 16.2 2.0 18.0 -8.5 47

 48 FA263140005 Life insurance reserves -31.6 1.8 15.5 13.6 19.8 13.0 15.5 -2.7 4.4 48

 49 FA263150005 Pension entitlements 58.7 3.1 46.9 41.9 59.6 39.3 46.6 1.8 8.4 49

 50 FA263192305 U.S. direct investment abroad: intercompany debt (4,5) 90.3 -98.7 -66.1 -148.8 62.1 -122.8 -54.8 13.8 -22.4 50

 51 FA263190005 Miscellaneous liabilities 18.7 5.9 -13.1 1378.2 -453.9 -884.2 -92.4 29.0 16.1 51

 52 FA313092803 U.S. equity in IBRD, etc. 1.3 1.4 1.8 5.2 0.0 0.9 1.3 4.7 0.0 52

 53 FA263191103 Nonofficial foreign currencies -7.9 -0.5 14.2 1415.8 -523.2 -812.0 -24.0 -61.5 -7.8 53

 54 FA263194735 Net investment by holding companies 24.9 -1.2 -31.6 -46.3 69.1 -65.8 -83.5 70.2 11.1 54

 55 FA263195105 Accident and health insurance reserves -1.5 0.8 5.8 5.1 7.4 4.9 5.8 -0.1 0.5 55

 56 FA263176005 Policy payables 1.8 5.5 -3.3 -1.6 -7.3 -12.2 8.1 15.7 12.3 56

 57 FA263181125 Net equity issues -47.3 -6.7 572.7 1221.9 92.7 687.1 288.9 610.8 875.7 57

 58 FA263164100 Foreign corporate equities (6) 171.3 -163.4 241.8 1036.0 -378.2 368.1 -58.8 303.2 379.4 58

 59 FA263192101 U.S. direct investment abroad: equity (5) -218.6 156.7 330.9 186.0 470.9 319.0 347.7 307.7 496.3 59

 60 FA267005005 Discrepancy (FOF basis) 205.7 189.8 106.8 772.6 -342.2 178.1 -181.2 263.0 -152.4 60

 Memo:

 61 FA266903005 Net U.S. exports, NIPA basis -596.2 -596.3 -651.2 -541.7 -538.9 -725.7 -798.4 -872.5 -884.7 61

 62 FA266904005 + Net U.S. income receipts (7) 294.2 266.4 222.3 239.9 172.0 226.8 250.6 234.8 245.4 62

 63 FA266400101 - Curr. taxes and trans. payments to rest of world 292.3 314.3 329.6 322.3 328.3 342.6 325.4 343.7 326.8 63

 64 FA266400201 + Curr. taxes and trans. payments from rest of world 154.0 164.4 171.4 172.1 167.4 176.7 169.5 175.9 172.4 64

 65 FA266000005 = Balance on current account, NIPAs -440.3 -479.8 -587.1 -452.0 -527.8 -664.8 -703.7 -805.5 -793.6 65

(1) Table F.5, line 67.

(2) Line 1 minus line 5 minus line 9. Also equal to line 65 with the sign reversed minus line 9.

(3) U.S. net sales, sign reversed.

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

(5) Direct investment reported at market value. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
Transactions

50 Z.1, September 23, 2021

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893111005 Net change in liabilities 5.0 4.7 9.0 -1.0 19.8 7.3 9.8 -8.4 1.9 1

 2 FA313111303 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA263111005 Rest of the world 5.0 4.7 9.0 -1.0 19.8 7.3 9.8 -8.4 1.9 3

 4 FA313011303 SDR holdings 0.2 0.2 0.1 0.2 0.1 0.0 0.0 0.0 0.0 4

 5 FA263111403 Reserve position in IMF 4.8 4.3 8.8 -1.3 19.6 7.1 9.8 -8.6 1.7 5

 6 FA263111503 Other reserves 0.0 0.2 0.1 0.1 0.2 0.1 -0.1 0.2 0.1 6

 7 FA893011005 Net change in assets 5.0 4.7 9.0 -1.0 19.8 7.3 9.8 -8.4 1.9 7

 8 FA313011005 Federal government 5.0 4.6 8.9 -1.0 19.8 7.2 9.8 -8.5 1.8 8

 9 FA313011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA313011303 SDR holdings 0.2 0.2 0.1 0.2 0.1 0.0 0.0 0.0 0.0 10

 11 FA313011405 Reserve position in IMF 4.8 4.3 8.8 -1.3 19.6 7.1 9.8 -8.6 1.7 11

 12 FA313011505 Other reserves 0.0 0.1 0.0 0.1 0.1 0.1 -0.0 0.1 0.1 12

 13 FA263011005 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA263011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA713011005 Monetary authority 0.0 0.1 0.0 0.1 0.1 0.1 -0.0 0.1 0.1 16

 17 FA713011203 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA713011405 Reserve position in IMF 0.0 0.0 -0.0 -0.0 0.0 -0.0 0.0 -0.0 0.0 18

 19 FA713011505 Other reserves 0.0 0.1 0.0 0.1 0.1 0.1 -0.0 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 FA713014003 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA713014003 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 FA313112003 Liab: Federal government -0.3 -0.5 -0.0 0.0 0.0 -0.2 0.0 0.0 0.0 3

 4 FA713012003 Asset: Monetary authority 0.4 0.3 0.4 0.4 0.3 0.5 0.3 0.3 0.7 4

 5 FA903012005 Discrepancy (seigniorage) -0.6 -0.8 -0.4 -0.4 -0.3 -0.6 -0.3 -0.3 -0.7 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA263191005 Total rest of the world liability 66.4 20.3 101.2 697.9 -525.2 246.5 -14.3 131.2 10.3 1

 Held by:

 2 FA153091003 Household sector 2.9 -1.0 7.8 37.4 -25.8 15.8 3.7 5.5 -2.3 2

 3 FA103091003 Nonfinancial corporate business -110.3 24.7 11.8 -78.6 136.0 57.8 -68.1 -1.8 138.1 3

 4 FA633091003 Money market funds -2.2 5.8 -6.7 -14.5 -6.6 -4.9 -0.7 5.8 -7.6 4

 5 FA903091005 Discrepancy--unallocated assets 175.9 -9.3 88.3 753.6 -628.8 177.7 50.8 121.8 -117.9 5
Transactions

Z.1, September 23, 2021 51

F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA794110005 Net change in liabilities -354.0 -99.0 1546.2 5773.1 195.9 -424.8 640.6 2716.1 -1174.6 1

 2 FA714110005 Monetary authority -388.2 -5.7 1461.9 3796.0 1219.5 -173.5 1005.5 2735.7 -668.7 2

 3 FA764110005 U.S.-chartered depository institutions -31.1 -13.8 1.1 489.1 -100.7 -24.7 -359.3 -156.5 -252.5 3

 4 FA754110005 Foreign banking offices in U.S. 61.5 -78.5 79.2 1421.5 -898.1 -199.8 -7.0 22.3 -178.7 4

 5 FA744110005 Banks in U.S.-affiliated areas -0.3 -0.3 0.3 -1.4 -0.1 1.8 0.7 0.1 -0.1 5

 6 FA474110005 Credit unions 4.0 -0.6 3.8 67.9 -24.6 -28.6 0.7 114.5 -74.6 6

 7 FA894010005 Net change in assets -339.2 -88.9 1535.8 5501.5 503.7 -506.7 644.7 2264.1 -691.2 7

 8 FA714010005 Monetary authority 0.1 0.1 44.6 306.3 27.0 -69.7 -85.2 -14.8 1.8 8

 9 FA763020005 U.S.-chartered depository institutions -268.6 20.3 1298.2 2370.7 1930.9 -194.6 1085.7 1742.6 -603.3 9

 10 FA753020005 Foreign banking offices in U.S. -111.4 -44.5 48.3 1278.9 -916.8 19.8 -188.5 767.5 19.2 10

 11 FA743013003 Banks in U.S.-affiliated areas -1.7 -1.7 10.3 14.5 21.4 10.5 -5.2 -0.7 34.7 11

 12 FA473013005 Credit unions -6.4 20.1 105.0 131.9 184.0 -9.2 113.5 226.4 -119.3 12

 13 FA264016005 Rest of the world 48.9 -83.3 29.3 1399.2 -742.8 -263.5 -275.6 -456.9 -24.3 13

 14 FA904010005 Discrepancy -14.8 -10.1 10.4 271.6 -307.7 82.0 -4.0 452.1 -483.4 14

 Memo:

 Vault cash:

 15 FA703025005 Liab.: Monetary authority 4.9 1.4 15.8 94.2 -31.5 1.7 -1.3 24.6 -24.4 15

 16 FA763025000 Asset: U.S.-chartered depository institutions 4.9 1.4 15.8 94.2 -31.5 1.7 -1.3 24.6 -24.4 16

 17 FA753025003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 17

 Depository institution reserves:

 18 FA713113003 Liab.: Monetary authority -393.1 -7.1 1446.1 3701.7 1251.0 -175.2 1006.7 2711.1 -644.3 18

 19 FA763013005 Asset: U.S.-chartered depository institutions -273.5 18.9 1282.4 2276.5 1962.5 -196.3 1087.0 1718.0 -579.0 19

 20 FA753013003 Foreign banking offices in U.S. -111.4 -44.5 48.3 1278.9 -916.8 19.8 -188.5 767.5 19.2 20

 21 FA743013003 Banks in U.S.-affiliated areas -1.7 -1.7 10.3 14.5 21.4 10.5 -5.2 -0.7 34.7 21

 22 FA473013005 Credit unions -6.4 20.1 105.0 131.9 184.0 -9.2 113.5 226.4 -119.3 22

 Other transactions with the monetary authority

 23 FA714010075 Liab: U.S.-chartered depository institutions 0.1 0.1 44.2 306.3 25.0 -69.7 -84.7 -14.1 2.0 23

 24 FA713068743 Credit unions 0.0 0.0 0.4 0.0 2.0 0.0 -0.4 -0.7 -0.2 24

 25 FA714010005 Asset: Monetary authority 0.1 0.1 44.6 306.3 27.0 -69.7 -85.2 -14.8 1.8 25

 26 FA713022003 Federal Reserve float 0.2 0.1 0.1 -0.0 -0.3 -2.4 3.0 -1.9 -0.0 26

 27 FA713068705 Loans to depository institutions -0.1 -0.0 44.5 306.4 27.3 -67.3 -88.2 -12.8 1.8 27

 Transactions with banks in foreign countries (net):

 28 FA764116205 Liab.: U.S.-chartered depository institutions (net) -18.2 -18.3 -55.7 7.9 128.4 -120.7 -238.5 -436.5 145.7 28

 29 FA763192605 Due to foreign affiliates -37.8 22.7 41.5 175.3 31.9 -0.2 -41.0 -147.6 14.4 29

 30 FA763092605 - Due from foreign affiliates -19.5 41.0 97.2 167.5 -96.5 120.4 197.5 288.9 -131.3 30

 31 FA754116205 Foreign banking offices in U.S. (net) 67.0 -74.5 59.6 1395.4 -946.9 -189.9 -20.1 -1.4 -147.1 31

 32 FA753192605 Due to foreign affiliates -34.6 0.0 40.5 1318.0 -796.4 -320.8 -39.0 70.9 -198.0 32

 33 FA753092605 - Due from foreign affiliates -101.6 74.5 -19.2 -77.4 150.6 -130.9 -18.9 72.2 -50.9 33

 34 FA264116205 Less: Deposits at foreign banks 2.3 -3.5 6.8 8.8 -7.7 12.7 13.4 29.6 -4.9 34

 35 FA764016205 U.S.-chartered depository institutions 3.4 -2.6 7.8 15.2 2.8 3.4 9.8 17.6 3.0 35

 36 FA754016205 Foreign banking offices in U.S. -1.1 -0.8 -1.0 -6.4 -10.5 9.3 3.7 12.0 -7.9 36

 37 FA264135125 Loans to foreign banks -3.1 -2.3 -25.1 -4.1 -49.3 -40.7 -6.5 -7.4 26.2 37

 38 FA764035125 U.S.-chartered depository institutions 0.1 0.0 -11.3 4.0 -23.5 -25.5 -0.2 1.1 13.9 38

 39 FA754035125 Foreign banking offices in U.S. -3.2 -2.3 -13.8 -8.1 -25.8 -15.2 -6.3 -8.5 12.3 39

 40 FA264035125 Plus: Loans from foreign banks -0.8 3.8 7.1 0.7 18.8 19.1 -10.1 3.1 -1.5 40

 41 FA274135123 U.S.-chartered depository institutions -0.2 2.6 5.6 -1.2 15.2 12.3 -4.2 1.4 1.3 41

 42 FA284135125 Foreign banking offices in U.S. -0.6 1.2 1.6 1.8 3.6 6.8 -6.0 1.7 -2.8 42

 43 FA264016005 Asset: Rest of the world (1) 48.9 -83.3 29.3 1399.2 -742.8 -263.5 -275.6 -456.9 -24.3 43

 Transactions between U.S. depository institutions (net):

 44 FA764112005 U.S.-chartered depository institutions (net) -9.2 -0.9 3.6 195.2 -290.0 131.4 -22.4 311.3 -384.6 44

 45 FA764112205 Due to (3): -20.7 -9.5 3.9 209.8 -291.1 113.3 -16.4 328.6 -394.0 45

 46 FA754012205 Foreign banking offices in U.S. -2.2 -0.4 -2.8 4.8 -10.1 4.6 -10.5 -8.1 14.9 46

 47 FA743020005 Banks in U.S.-affiliated areas 0.3 0.3 -0.3 1.4 0.1 -1.8 -0.7 -0.1 0.1 47

 48 FA474012205 Credit unions -4.0 0.6 -3.4 -67.9 26.6 28.6 -1.1 -115.2 74.4 48

 49 FA754112205 - Due from: Foreign banking offices in U.S. -11.5 -8.7 0.3 14.5 -1.1 -18.1 6.0 17.3 -9.4 49

 50 FA904010005 Unallocated (2) -14.8 -10.1 10.4 271.6 -307.7 82.0 -4.0 452.1 -483.4 50

(1) Sum of lines 28 and 31 less line 34 and line 37 plus line 40.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 13 above. However, the unallocated amount (line 50), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 46, 47, 48, and 50.
Transactions

52 Z.1, September 23, 2021

F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA793120005 Net change in liabilities 315.4 272.2 4272.7 3798.2 7891.1 965.7 4435.6 -278.0 699.7 1

 2 FA713120005 Monetary authority 259.5 89.6 1738.4 1659.6 4914.8 333.1 46.2 -1615.5 -1202.1 2

 3 FA713123005 Federal government cash and deposits 173.2 1.7 1324.6 559.5 4937.5 65.7 -264.3 -2353.3 -913.9 3

 4 FA713124005 Due to government-sponsored enterprises -6.8 2.1 38.5 430.0 -312.2 -65.8 102.0 332.2 -421.8 4

 5 FA713129005 Due to other financial business -3.3 -1.1 93.0 396.8 -107.1 48.9 33.4 126.2 61.3 5

 6 FA713122605 Deposits due to foreign -0.0 -0.1 16.7 48.9 -4.7 10.8 11.7 45.5 -111.8 6

 7 FA713125005 Currency outside banks 96.4 87.0 265.7 224.5 401.3 273.5 163.5 234.0 184.1 7

 8 FA763127005 U.S.-chartered depository institutions 38.3 137.8 2381.3 1851.8 2788.7 552.3 4332.4 943.6 1933.0 8

 9 FA763123005 Federal government deposits -0.1 -0.1 1.1 -0.2 0.9 2.0 1.5 -1.4 8.1 9

 10 FA763128000 State and local government deposits -7.6 6.2 90.8 15.6 112.6 56.2 178.9 77.8 205.2 10

 11 FA763122605 Deposits due to foreign 15.0 4.6 -17.6 48.2 -81.8 -30.4 -6.3 -11.4 64.2 11

 12 FA763129205 Private domestic deposits 31.1 127.2 2307.0 1788.1 2757.0 524.5 4158.4 878.7 1655.5 12

 13 FA753127005 Foreign banking offices in U.S. -7.2 21.6 57.0 208.2 18.7 38.7 -37.8 199.7 -41.0 13

 14 FA753122603 Deposits due to foreign -0.7 3.2 35.2 90.1 23.4 5.2 22.0 25.5 51.7 14

 15 FA753129205 Private domestic deposits -6.5 18.4 21.8 118.1 -4.6 33.5 -59.8 174.2 -92.7 15

 16 FA743127003 Banks in U.S.-affiliated areas 3.5 4.8 11.0 3.3 31.4 8.3 1.1 18.4 27.1 16

 17 FA473127003 Credit unions 21.3 18.4 85.0 75.2 137.6 33.3 93.8 175.8 -17.4 17

 18 FA793120005 Net change in assets 315.4 272.2 4272.7 3798.2 7891.1 965.7 4435.6 -278.0 699.7 18

 19 FA153020005 Household sector -86.3 -45.8 1712.1 282.4 1469.2 963.6 4133.4 1451.6 1711.0 19

 20 FA143020005 Nonfinancial business 249.5 170.6 763.6 1414.5 1878.5 91.6 -330.1 279.8 -5.8 20

 21 FA103020000 Corporate 238.0 150.2 659.5 1182.7 1684.7 99.2 -328.5 191.2 -59.1 21

 22 FA113020005 Noncorporate 11.5 20.4 104.1 231.8 193.8 -7.6 -1.5 88.6 53.3 22

 23 FA313020005 Federal government 173.5 1.0 1326.3 642.6 4840.1 164.0 -341.5 -2274.6 -1011.5 23

 24 FA213020005 State and local governments -7.6 6.2 90.8 15.6 112.6 56.2 178.9 77.8 205.2 24

 25 FA793020005 Domestic financial sectors -92.6 81.2 224.7 1234.9 -562.7 -345.1 571.6 166.4 -359.1 25

 26 FA513020005 Property-casualty insurance companies -1.7 17.4 2.6 -13.8 41.3 -32.9 15.5 29.3 -14.0 26

 27 FA543020005 Life insurance companies -0.4 4.0 33.0 195.6 19.7 -65.9 -17.6 -25.6 75.9 27

 28 FA573020005 Private pension funds -5.0 7.3 8.1 10.9 7.4 7.3 6.6 2.3 5.3 28

 29 FA343020033 Federal government retirement funds -0.2 -0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 29

 30 FA223020043 State and local govt. retirement funds -1.7 4.9 4.7 -3.6 -6.1 1.5 26.9 -18.4 1.2 30

 31 FA633020000 Money market funds -65.8 44.9 -9.0 -104.8 -137.2 -169.7 375.8 -184.3 -137.5 31

 32 FA403020005 Government-sponsored enterprises -12.6 -2.2 57.8 429.4 -283.7 -53.7 139.3 245.7 -341.1 32

 33 FA613020003 Finance companies -4.3 -2.0 4.2 16.9 17.1 -14.9 -2.4 1.3 -0.1 33

 34 FA643020005 REITs -4.8 8.9 17.1 160.2 -22.2 -45.8 -24.1 -4.0 6.6 34

 35 FA663020003 Brokers and dealers 7.3 -1.0 13.2 147.0 -92.1 -20.1 18.0 -6.3 -17.0 35

 36 FA713129005 Other financial business -3.3 -1.1 93.0 396.8 -107.1 48.9 33.4 126.2 61.3 36

 37 FA263020005 Rest of the world 79.5 59.0 155.6 291.2 54.4 133.0 143.6 99.9 54.7 37

 38 FA263027003 Checkable deposits 14.2 7.7 34.2 187.2 -63.2 -14.4 27.4 59.5 4.1 38

 39 FA263025003 Currency 65.3 51.3 121.3 104.1 117.6 147.4 116.2 40.4 50.6 39

 40 FA903020005 Mail float -0.6 -0.0 -0.5 -83.1 99.1 -97.7 79.7 -78.9 105.2 40
Transactions

Z.1, September 23, 2021 53

F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA703130005 Net change in liabilities 530.0 684.1 795.2 2325.2 3098.4 59.0 -2302.1 1951.0 -374.7 1

 2 FA763130005 U.S.-chartered depository institutions 491.9 511.5 655.7 2474.9 2489.4 30.2 -2371.6 1621.5 -464.0 2

 3 FA753130005 Foreign banking offices in U.S. -2.0 89.0 -50.8 -198.1 232.7 -134.7 -103.0 139.6 -28.5 3

 4 FA743130003 Banks in U.S.-affiliated areas 0.4 1.4 3.1 6.7 4.8 2.8 -2.1 13.3 3.3 4

 5 FA473130005 Credit unions 39.8 82.2 187.1 41.7 371.5 160.6 174.6 176.6 114.5 5

 6 FA703130005 Net change in assets 530.0 684.1 795.2 2325.2 3098.4 59.0 -2302.1 1951.0 -374.7 6

 7 FA153030005 Household sector 436.2 536.6 476.5 1022.1 2528.0 303.5 -1947.7 1829.3 -294.1 7

 8 FA143030005 Nonfinancial business 53.6 72.9 226.0 688.5 354.2 -12.7 -125.8 95.2 102.4 8

 9 FA103030003 Corporate 5.8 14.3 103.6 389.7 123.5 1.8 -100.7 -40.1 26.9 9

 10 FA113030003 Noncorporate 47.8 58.6 122.5 298.8 230.7 -14.5 -25.1 135.3 75.5 10

 11 FA313030003 Federal government 0.1 0.3 -1.3 -1.6 0.6 -1.7 -2.7 35.5 -34.4 11

 12 FA213030000 State and local governments 7.9 19.8 -9.6 54.6 18.2 12.3 -123.4 0.9 -39.0 12

 13 FA793030005 Domestic financial sectors -5.2 56.6 6.3 108.8 305.3 -240.8 -148.4 -164.2 -174.4 13

 14 FA573030005 Private pension funds -5.0 -15.4 -7.3 -4.4 -7.8 -7.9 -9.1 -5.2 3.1 14

 15 FA223030043 State and local govt. retirement funds -0.4 4.6 -2.2 -1.0 -5.9 -1.4 -0.6 0.8 -2.2 15

 16 FA633030000 Money market funds 11.7 68.2 -118.3 -128.1 -115.4 -121.0 -108.6 142.7 -167.0 16

 17 FA403030005 Government-sponsored enterprises 12.7 -4.4 -7.0 0.7 -11.0 -19.0 1.3 -6.4 -3.7 17

 18 FA613030003 Finance companies -13.0 -6.0 12.5 50.8 51.2 -44.8 -7.2 3.8 -0.3 18

 19 FA733030003 Holding companies -11.1 9.7 128.5 190.8 394.3 -46.7 -24.2 -299.9 -4.3 19

 20 FA263030005 Rest of the world 37.4 -2.1 97.3 452.8 -107.9 -1.5 45.9 154.3 64.8 20

F.206 Money Market Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA634090005 Net issues 189.9 596.0 701.3 3093.7 1300.9 -1054.3 -535.2 927.6 254.2 1

 2 FA634090005 Net purchases 189.9 596.0 701.3 3093.7 1300.9 -1054.3 -535.2 927.6 254.2 2

 3 FA153034005 Household sector 181.1 411.8 337.4 916.5 1096.5 -219.0 -444.3 883.4 210.8 3

 4 FA103034000 Nonfinancial corporate business -33.4 92.2 119.6 1499.0 -179.0 -757.7 -84.2 -144.9 -53.2 4

 5 FA113034003 Nonfinancial noncorporate business 4.8 5.8 9.1 13.9 17.7 5.7 -1.1 3.0 1.5 5

 6 FA213034003 State and local governments -2.1 6.8 7.9 23.3 11.9 -4.0 0.5 5.2 1.2 6

 7 FA513034005 Property-casualty insurance companies 2.7 2.5 9.9 -0.3 32.5 -10.8 18.3 15.4 -23.5 7

 8 FA543034005 Life insurance companies 6.7 3.6 7.9 119.2 -15.0 -46.7 -25.9 -15.9 16.6 8

 9 FA573034005 Private pension funds -0.4 21.2 42.7 61.4 39.4 38.8 31.1 10.9 25.8 9

 10 FA223034005 State and local govt. retirement funds -2.4 -0.8 4.0 36.6 -8.1 -1.4 -11.1 16.6 -1.4 10

 11 FA503034005 Other financial business 15.6 38.5 160.8 402.4 283.3 -32.8 -9.9 134.6 71.6 11

 12 FA263034003 Rest of the world 17.3 14.4 2.0 21.6 21.6 -26.5 -8.7 19.3 4.6 12
Transactions

54 Z.1, September 23, 2021

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA892150005 Net change in liabilities 132.7 337.9 -197.7 1491.2 -2781.5 22.6 477.1 -751.2 3258.3 1

 2 FA712151003 Monetary authority -259.9 32.6 -120.6 929.7 -1344.5 -110.9 43.3 544.5 3635.0 2

 3 FA762150005 U.S.-chartered depository institutions -27.3 23.9 3.9 96.4 -2.5 -45.8 -32.6 66.3 -177.4 3

 4 FA762152005 Federal funds (2) -5.8 -1.7 -17.1 41.6 -58.4 -55.8 4.1 -6.6 0.2 4

 5 FA762151005 Security repurchase agreements -21.5 25.6 21.0 54.8 55.9 9.9 -36.6 72.9 -177.5 5

 6 FA752150005 Foreign banking offices in U.S. -48.9 46.4 -5.1 251.1 -403.2 171.2 -39.4 -0.9 49.5 6

 7 FA752152005 Federal funds (2) -10.0 1.3 -6.9 25.9 -15.0 -15.3 -23.1 48.1 23.5 7

 8 FA752151005 Security repurchase agreements -38.9 45.1 1.8 225.2 -388.1 186.5 -16.3 -49.0 26.0 8

 9 FA472150053 Credit unions -0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 9

 10 FA512151003 Property-casualty insurance companies -0.2 -0.0 0.1 0.2 0.3 0.1 -0.3 0.0 0.1 10

 11 FA542151073 Life insurance companies 2.7 -6.5 1.1 31.5 -16.1 16.5 -27.7 -13.3 0.6 11

 12 FA402150005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.4 12

 13 FA642151073 REITs 43.3 71.8 -157.6 -478.3 -120.0 -38.1 5.8 -13.4 -30.3 13

 14 FA662151003 Brokers and dealers 305.9 56.6 19.3 243.8 -542.1 131.2 244.1 -802.4 -92.4 14

 15 FA732151003 Holding companies -0.0 -0.0 -0.0 -0.0 0.0 0.1 -0.1 0.4 -0.2 15

 16 FA262151003 Rest of the world 117.3 113.2 61.4 416.7 -353.5 -101.7 284.0 -532.8 -126.3 16

 17 FA892050005 Net change in assets 379.8 614.8 -247.5 2001.0 -3417.6 -106.8 533.6 -924.2 2389.9 17

 18 FA102051003 Nonfinancial corporate business -25.0 -1.2 26.4 56.0 20.0 -8.5 38.1 -63.4 60.1 18

 19 FA212051003 State and local governments 1.1 -1.3 19.3 -8.7 51.5 18.5 15.9 25.0 25.5 19

 20 FA712051000 Monetary authority 0.0 255.6 -255.6 28.4 -819.1 -231.8 0.0 0.0 0.0 20

 21 FA762050005 U.S.-chartered depository institutions 160.3 -24.3 179.8 -108.9 916.1 -248.8 160.8 -975.8 23.2 21

 22 FA762052005 Federal funds (2) -4.1 3.9 1.3 -11.4 42.8 -48.6 22.2 8.6 -0.8 22

 23 FA762051005 Security repurchase agreements 164.5 -28.2 178.5 -97.5 873.3 -200.2 138.6 -984.4 24.1 23

 24 FA752050005 Foreign banking offices in U.S. 50.9 60.0 -55.4 -207.4 -99.9 135.8 -49.9 -205.7 15.8 24

 25 FA752052005 Federal funds (2) 0.3 -0.9 0.0 1.2 2.0 0.6 -3.6 2.6 -3.6 25

 26 FA752051005 Security repurchase agreements 50.6 60.9 -55.4 -208.5 -101.9 135.2 -46.3 -208.3 19.4 26

 27 FA472050053 Credit unions 0.0 0.6 -0.3 -0.1 -0.1 0.2 -1.1 -0.2 -0.9 27

 28 FA472052053 Federal funds 0.1 0.1 -0.1 0.2 -0.7 0.2 -0.3 -0.0 0.0 28

 29 FA472051053 Security repurchase agreements -0.1 0.5 -0.1 -0.3 0.6 -0.0 -0.8 -0.2 -0.9 29

 30 FA512051005 Property-casualty insurance companies -0.0 0.6 0.2 1.5 2.5 0.5 -3.6 0.3 1.0 30

 31 FA542051075 Life insurance companies 0.2 4.1 1.9 12.9 -4.3 8.5 -9.6 -4.6 0.3 31

 32 FA572051005 Private pension funds -0.5 13.3 5.3 3.8 5.6 5.6 6.2 3.4 6.0 32

 33 FA222051043 State and local govt. retirement funds -0.2 3.5 1.1 -2.0 -9.8 -5.9 22.2 47.3 16.7 33

 34 FA632051000 Money market funds 63.0 155.7 -168.8 1537.2 -2551.4 363.9 -25.1 557.9 1791.8 34

 35 FA652051003 Mutual funds -16.4 21.2 5.4 17.9 -12.8 -29.8 46.2 25.4 10.9 35

 36 FA402050005 Government-sponsored enterprises -25.0 24.6 17.3 -165.0 284.4 -72.4 22.3 -262.8 439.9 36

 37 FA402052033 Of which: FHLB federal funds (3) -11.3 -2.9 -19.8 92.0 -82.8 -36.5 -52.1 91.0 -25.5 37

 38 FA662051003 Brokers and dealers 206.2 80.8 -73.8 348.1 -803.2 -12.6 172.3 -336.3 -418.4 38

 39 FA732051003 Holding companies -3.7 0.4 39.4 0.2 79.0 58.9 19.4 -47.7 -54.4 39

 40 FA502051003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 FA262051005 Rest of the world -31.3 21.3 10.4 487.0 -475.9 -89.0 119.6 313.0 472.4 41

 42 FA902050005 Discrepancy -247.1 -276.8 49.8 -509.8 636.0 129.4 -56.5 173.0 868.3 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations:

 43 FA712151103 Liability: Monetary authority (4) -277.7 22.2 -54.4 883.3 -1135.8 -0.4 35.2 498.6 3430.5 43

 44 FA632051103 Asset: Money market funds (5) -248.5 7.2 -37.2 952.0 -1135.8 -0.4 35.2 462.6 2919.1 44

 45 FA792051115 Other financial institutions (6) -29.3 15.0 -17.2 -68.8 -0.0 0.0 0.0 36.0 511.4 45

(1) Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 1997:Q1 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) Included in line 2.

(5) Included in line 34.

(6) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
Transactions

Z.1, September 23, 2021 55

F.208 Debt Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 By instrument

 1 FA894122005 Net issues 1972.1 1950.7 6187.7 5067.1 14027.4 2063.6 3592.6 4100.6 3710.3 1

 2 FA893169175 Open market paper 30.0 49.3 -58.4 -127.9 -362.6 -9.1 266.2 102.8 -12.9 2

 3 FA313161105 Treasury securities 1411.2 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 3

 4 FA893161705 Agency- and GSE-backed securities 245.4 316.9 657.2 1505.5 -222.5 532.8 812.9 698.1 600.9 4

 5 FA383162005 Municipal securities -46.1 9.0 83.4 30.4 95.8 181.5 25.8 121.5 116.1 5

 6 FA893163005 Corporate and foreign bonds 331.5 398.9 923.3 976.4 2196.6 -19.8 540.1 1054.4 691.3 6

 By sector

 7 FA894122005 Net issues 1972.1 1950.7 6187.7 5067.1 14027.4 2063.6 3592.6 4100.6 3710.3 7

 8 FA384122005 Domestic nonfinancial sectors 1502.8 1439.0 5277.6 3423.6 13892.6 1720.2 2074.0 2439.0 2613.6 8

 9 FA163162003 Nonprofit organizations (2) -2.4 -3.3 -9.9 -11.7 -9.0 -5.4 -13.7 2.8 -1.0 9

 10 FA104122005 Nonfinancial corporate business 135.9 270.3 617.7 725.3 1474.9 179.4 91.4 201.8 198.8 10

 11 FA314122005 Federal government 1409.8 1174.9 4581.2 2682.6 12319.5 1374.7 1947.8 2122.3 2314.9 11

 12 FA213162005 State and local governments -40.5 -2.9 88.6 27.5 107.2 171.5 48.4 112.1 101.0 12

 13 FA794122005 Domestic financial sectors 324.0 399.2 903.5 2583.0 -230.8 235.6 1026.2 870.9 1039.0 13

 14 FA764122005 U.S.-chartered depository institutions 24.2 -37.8 58.8 93.0 37.2 36.8 68.1 40.7 -9.2 14

 15 FA753169175 Foreign banking offices in U.S. 2.7 -2.3 -3.1 50.5 -31.2 -28.6 -2.8 17.3 3.7 15

 16 FA403161705 Government-sponsored enterprises 81.1 204.9 635.9 1388.3 -177.4 505.6 827.2 665.9 483.5 16

 17 FA413065005 Agency- and GSE-backed mortgage pools 165.8 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 17

 18 FA674122005 ABS issuers 14.3 69.9 50.7 240.5 -48.0 5.5 4.6 40.3 74.2 18

 19 FA614122005 Finance companies 44.1 -43.8 -20.2 100.8 -46.9 -119.3 -15.3 -21.0 18.1 19

 20 FA644122005 REITs 31.0 69.3 42.2 -37.8 145.1 33.8 27.5 24.9 94.8 20

 21 FA663163003 Brokers and dealers -1.7 -10.0 9.9 331.7 -308.7 -57.2 73.8 49.8 32.7 21

 22 FA734122005 Holding companies -46.9 40.9 131.7 370.0 274.8 -151.5 33.6 -157.8 318.7 22

 23 FA504122005 Other financial business 9.3 -5.7 -24.7 -71.3 -31.3 -20.3 23.9 177.0 -94.8 23

 24 FA264122005 Rest of the world 145.3 112.6 6.6 -939.5 365.6 107.8 492.5 790.7 57.7 24

 25 FA894122005 Net purchases 1972.1 1950.7 6187.7 5067.1 14027.4 2063.6 3592.6 4100.6 3710.3 25

 26 FA384022005 Domestic nonfinancial sectors 855.8 377.2 -195.4 487.3 -208.3 -1287.0 226.3 -1763.7 198.8 26

 27 FA154022005 Household sector 825.8 258.7 -475.8 237.0 -858.1 -1328.1 46.1 -1829.8 -769.8 27

 28 FA104022005 Nonfinancial corporate business 19.1 69.3 52.5 183.6 83.6 -15.3 -41.9 -88.4 113.6 28

 29 FA114022005 Nonfinancial noncorporate business 1.9 1.0 3.0 -14.2 14.9 6.7 4.8 7.6 -3.3 29

 30 FA314022005 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA214022005 State and local governments 8.9 48.2 224.8 80.9 551.4 49.8 217.3 146.9 858.3 31

 32 FA794022005 Domestic financial sectors 974.4 1132.2 6338.7 5871.6 13226.1 3384.8 2872.4 5104.7 2532.9 32

 33 FA714022005 Monetary authority -379.5 -137.5 3217.0 4281.5 6046.3 1304.3 1235.7 1610.4 1486.6 33

 34 FA764022005 U.S.-chartered depository institutions 76.4 243.0 1003.5 645.1 1225.2 1108.4 1035.2 1898.7 987.0 34

 35 FA754022005 Foreign banking offices in U.S. 26.4 -30.1 -12.6 104.5 -74.6 -55.0 -25.4 -52.5 -1.7 35

 36 FA744022003 Banks in U.S.-affiliated areas 5.1 13.2 6.1 -3.5 16.1 3.0 9.0 16.9 -7.9 36

 37 FA474022005 Credit unions -9.1 11.1 88.8 11.5 133.9 115.2 94.7 277.5 11.3 37

 38 FA514022005 Property-casualty insurance companies 43.7 29.7 53.1 67.9 65.6 106.5 -27.6 94.1 126.2 38

 39 FA544022005 Life insurance companies 90.3 122.1 184.3 290.7 56.6 304.5 85.6 73.8 73.2 39

 40 FA574022005 Private pension funds 82.3 47.5 92.2 139.4 48.7 72.1 108.6 24.6 91.1 40

 41 FA344022005 Federal government retirement funds 309.2 113.5 147.7 183.2 199.5 119.0 89.1 148.6 240.5 41

 42 FA224022045 State and local govt. retirement funds 56.9 -135.1 52.4 -21.5 -34.3 105.0 160.3 178.0 126.7 42

 43 FA634022005 Money market funds 181.7 319.0 1004.0 1797.0 4315.6 -1310.8 -785.6 477.2 -1072.0 43

 44 FA654022005 Mutual funds 185.0 356.5 339.7 -1048.2 436.5 1228.2 742.3 1191.8 285.1 44

 45 FA554022005 Closed-end funds 2.3 3.2 0.8 3.6 -0.7 -0.2 0.7 10.3 4.0 45

 46 FA564022005 Exchange-traded funds 99.0 148.3 202.9 43.2 340.9 225.4 201.9 172.6 251.3 46

 47 FA404022005 Government-sponsored enterprises 4.0 52.8 46.7 -8.1 251.2 57.9 -114.3 -113.0 -102.6 47

 48 FA674022005 ABS issuers 8.1 12.6 -2.7 -4.0 -5.8 -4.1 3.1 -7.0 -4.6 48

 49 FA613063003 Finance companies -4.5 -0.5 9.7 7.4 16.4 5.9 9.2 5.9 34.2 49

 50 FA644022005 REITs 30.8 46.9 -154.6 -596.4 -19.6 -15.9 13.6 -27.2 -38.4 50

 51 FA664022005 Brokers and dealers 149.2 -52.5 -48.2 231.6 -23.5 -167.0 -233.7 -774.2 93.6 51

 52 FA734022605 Holding companies 31.1 29.0 -8.6 -39.9 9.1 -32.0 28.5 115.1 -13.7 52

 53 FA504022005 Other financial business -13.9 -60.6 116.5 -213.4 222.9 214.7 241.7 -216.9 -37.1 53

 54 FA264022005 Rest of the world 141.9 441.4 44.4 -1291.8 1009.6 -34.3 494.0 759.6 978.6 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.

(2) Liability of the households and nonprofit organizations sector (table F.101).
Transactions

56 Z.1, September 23, 2021

F.209 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893169175 Net issues 30.0 49.3 -58.4 -127.9 -362.6 -9.1 266.2 102.8 -12.9 1

 2 FA893169105 Commercial paper 30.0 49.3 -58.4 -127.9 -362.6 -9.1 266.2 102.8 -12.9 2

 3 FA103169100 Nonfinancial corporate business -10.2 -1.9 -62.3 -21.3 -271.1 -70.5 113.6 -223.4 112.2 3

 4 FA263169105 Foreign issues in U.S. 6.3 84.4 11.0 -138.0 5.2 91.3 85.6 132.7 12.5 4

 5 FA263169110 Nonfinancial 6.4 6.3 -9.0 3.3 -16.6 -27.1 4.5 -22.6 -33.3 5

 6 FA263169123 Financial -0.1 78.2 20.0 -141.3 21.8 118.5 81.0 155.3 45.8 6

 7 FA793169100 Domestic financial sectors 33.9 -33.2 -7.0 31.4 -96.7 -29.9 67.0 193.5 -137.5 7

 8 FA763169103 U.S.-chartered depository institutions 12.0 -19.1 29.6 46.5 18.0 20.2 33.9 23.4 -5.2 8

 9 FA753169103 Foreign banking offices in U.S. 2.7 -2.3 -3.1 50.5 -31.2 -28.6 -2.8 17.3 3.7 9

 10 FA673169105 ABS issuers 15.9 -5.0 13.6 9.9 -0.8 26.5 18.6 -28.2 -38.6 10

 11 FA613169100 Finance companies -7.5 -1.1 -21.7 -2.4 -49.2 -22.4 -12.9 2.6 -6.6 11

 12 FA643169173 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA733169103 Holding companies 1.5 -0.1 -0.7 -1.8 -2.1 -5.3 6.3 1.5 4.0 13

 14 FA503169105 Other financial business 9.3 -5.7 -24.7 -71.3 -31.3 -20.3 23.9 177.0 -94.8 14

 15 FA703169605 Bankers’ acceptances (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA763169603 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA753169603 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA893169175 Net purchases 30.0 49.3 -58.4 -127.9 -362.6 -9.1 266.2 102.8 -12.9 18

 19 FA103069100 Nonfinancial corporate business 38.4 55.4 38.1 55.4 -32.0 66.9 62.0 -48.6 141.4 19

 20 FA213069103 State and local governments 0.5 -0.6 1.7 -4.1 -5.6 8.8 7.5 15.7 23.8 20

 21 FA713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA763069175 U.S.-chartered depository institutions (1) 0.0 0.0 2.0 110.2 -63.2 -31.4 -7.6 -7.5 -0.4 22

 23 FA753069603 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA473069153 Credit unions 0.2 0.5 -0.4 1.8 -1.9 -1.5 0.2 -0.7 -0.3 24

 25 FA513069105 Property-casualty insurance companies -2.2 0.5 -0.8 5.6 9.4 -0.6 -17.5 1.3 4.1 25

 26 FA543069105 Life insurance companies -4.9 -4.4 5.2 36.6 -16.1 21.3 -20.9 -13.8 -0.4 26

 27 FA573069105 Private pension funds -5.3 -2.5 -0.6 1.5 -1.0 -1.0 -1.7 -1.4 -2.0 27

 28 FA223069143 State and local govt. retirement funds -1.9 -6.4 -1.8 12.5 -19.2 0.4 -1.0 31.0 3.5 28

 29 FA633069175 Money market funds 41.1 43.5 -63.8 -52.2 -42.8 -180.1 20.1 45.0 -164.4 29

 30 FA653069100 Mutual funds -16.4 21.2 5.4 8.6 -9.0 -19.7 41.5 18.1 12.1 30

 31 FA403069105 Government-sponsored enterprises 0.5 0.3 0.2 4.2 -2.8 -5.2 4.4 -1.3 -6.3 31

 32 FA663069103 Brokers and dealers 2.1 -2.9 -0.3 48.7 -30.8 -7.9 -11.3 4.0 9.9 32

 33 FA503069105 Other financial business -12.0 -60.8 2.2 -236.8 -172.9 214.8 203.6 -6.0 -49.6 33

 34 FA263069103 Rest of the world -10.2 5.4 -45.3 -119.8 25.3 -73.7 -13.2 67.2 16.0 34

(1) Excludes banks’ holdings of own acceptances.
Transactions

Z.1, September 23, 2021 57

F.210 Treasury Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA313161105 Net issues 1411.2 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 1

 2 FA313161205 Marketable Treasury securities 1131.6 1062.7 4317.3 2462.0 11726.3 1221.9 1858.8 2184.3 2103.5 2

 3 FA313161110 Treasury bills 386.9 77.0 2546.6 723.8 10349.1 -351.3 -535.1 -1408.8 -919.0 3

 4 FA313161275 Other Treasury notes, bonds, and TIPS 745.9 987.2 1772.2 1738.2 1383.3 1573.2 2393.9 3593.1 3027.4 4

 5 FA313161283 Held in the Civil Service Retirement Fund (2) -1.1 -1.5 -1.5 0.0 -6.2 0.0 0.0 0.0 -4.8 5

 6 FA313161305 Nonmarketable Treasury securities 279.6 113.9 264.9 220.6 593.9 156.3 88.8 -60.5 211.3 6

 7 FA313161400 U.S. savings securities -4.7 -4.4 -4.3 -5.0 -1.3 -4.7 -6.3 -5.0 -4.5 7

 8 FA213061120 State and local government series (SLGS) -26.3 11.6 38.0 30.0 39.7 76.7 5.7 27.7 28.4 8

 9 FA343061123 Thrift Savings Plan G Fund 184.6 -2.6 42.0 66.7 42.9 35.8 22.5 -1.8 11.0 9

 10 FA343061145 Federal govt. defined benefit pension plans 126.3 113.4 103.6 128.3 153.1 75.6 57.2 151.0 235.8 10

 11 FA503061303 Held by Federal Reserve credit facility LLCs 0.0 0.0 95.7 0.0 382.5 0.1 0.1 -212.4 -34.0 11

 12 FA313161375 Other nonmarketable securities -0.3 -4.0 -10.0 0.7 -23.1 -27.2 9.6 -19.9 -25.4 12

 13 FA893061105 Net purchases 1411.2 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 13

 14 FA153061105 Household sector 601.6 174.7 -124.8 -501.5 -215.9 -131.8 350.2 -696.1 -319.5 14

 15 FA313161400 U.S. savings securities (line 7) -4.7 -4.4 -4.3 -5.0 -1.3 -4.7 -6.3 -5.0 -4.5 15

 16 FA153061185 Other Treasury securities 606.3 179.1 -120.4 -496.5 -214.6 -127.1 356.5 -691.2 -315.0 16

 17 FA103061103 Nonfinancial corporate business -15.6 6.7 9.8 93.1 85.9 -62.8 -77.2 -27.8 -21.2 17

 18 FA113061003 Nonfinancial noncorporate business 2.2 0.9 2.7 -15.3 14.4 6.5 5.2 6.6 -3.1 18

 19 FA213061105 State and local governments -12.4 51.4 291.3 41.7 728.8 138.7 256.1 227.3 830.6 19

 20 FA213061120 SLGS (line 8) -26.3 11.6 38.0 30.0 39.7 76.7 5.7 27.7 28.4 20

 21 FA213061103 Other Treasury securities 13.8 39.8 253.3 11.7 689.1 62.0 250.4 199.7 802.2 21

 22 FA713061103 Monetary authority -243.3 99.1 2554.3 4077.9 4137.3 1000.5 1001.4 1017.8 958.9 22

 23 FA713061113 Treasury bills 0.0 168.5 157.5 625.5 2.8 1.2 0.5 0.2 0.1 23

 24 FA713061125 Other Treasury securities -243.3 -69.3 2396.8 3452.4 4134.5 999.3 1000.9 1017.6 958.8 24

 25 FA763061100 U.S.-chartered depository institutions 87.3 125.6 327.5 75.5 859.7 306.1 68.7 406.6 355.5 25

 26 FA753061103 Foreign banking offices in U.S. 29.4 -9.9 -27.3 -58.7 6.4 -28.5 -28.5 -63.4 17.6 26

 27 FA743061103 Banks in U.S.-affiliated areas 5.3 5.9 -3.6 -13.2 12.2 -9.4 -4.2 9.2 -0.0 27

 28 FA473061105 Credit unions 2.2 5.1 6.3 -7.7 15.0 6.3 11.8 31.4 10.8 28

 29 FA513061105 Property-casualty insurance companies 7.9 -7.0 0.9 3.1 23.6 19.9 -43.0 44.5 75.0 29

 30 FA513061115 Treasury bills -12.6 -8.8 14.5 38.1 64.2 26.6 -70.9 7.5 24.0 30

 31 FA513061125 Other Treasury securities 20.5 1.8 -13.6 -35.0 -40.6 -6.7 27.9 37.0 51.1 31

 32 FA543061105 Life insurance companies -28.8 -6.4 7.1 -5.9 6.6 28.0 -0.3 -10.9 21.2 32

 33 FA543061115 Treasury bills -4.3 0.6 6.3 23.2 -3.1 19.0 -13.9 -8.3 1.1 33

 34 FA543061125 Other Treasury securities -24.4 -7.0 0.8 -29.1 9.7 9.1 13.7 -2.6 20.1 34

 35 FA573061105 Private pension funds 26.2 52.1 97.1 115.8 92.5 92.0 88.2 36.2 75.2 35

 36 FA573061143 Defined benefit plans 14.3 34.7 20.2 14.5 21.2 21.4 23.8 13.1 22.9 36

 37 FA573061133 Defined contribution plans 12.0 17.4 76.9 101.4 71.3 70.6 64.5 23.1 52.3 37

 38 FA343061105 Federal government retirement funds (3) 309.4 111.2 145.5 190.6 193.8 113.8 84.0 148.5 241.4 38

 39 FA343061165 Defined benefit plans 124.7 111.8 101.5 126.6 147.4 74.5 57.6 151.4 231.1 39

 40 FA343061155 Defined contribution plans 184.7 -0.6 44.0 64.0 46.4 39.2 26.4 -2.9 10.3 40

 41 FA223061143 State and local govt. retirement funds 52.8 -21.7 -7.1 -143.8 -110.8 93.3 132.7 160.7 85.5 41

 42 FA633061105 Money market funds 170.6 163.0 1219.8 1041.5 4767.2 -562.5 -366.9 565.2 -580.9 42

 43 FA633061110 Treasury bills 129.5 31.1 1199.1 860.9 4568.4 -380.7 -252.2 181.9 -674.2 43

 44 FA633061120 Other Treasury securities 41.1 131.9 20.7 180.6 198.8 -181.8 -114.6 383.3 93.4 44

 45 FA653061105 Mutual funds 69.7 120.0 -46.5 -1062.7 406.0 222.9 247.9 298.7 58.7 45

 46 FA653061113 Treasury bills 7.1 -47.9 0.4 -22.2 19.4 -1.3 5.7 -11.0 -11.2 46

 47 FA653061125 Other Treasury securities 62.7 167.9 -46.9 -1040.6 386.6 224.2 242.3 309.7 69.9 47

 48 FA553061103 Closed-end funds -0.2 -0.5 -0.4 -3.0 0.8 0.5 0.3 0.6 0.3 48

 49 FA563061103 Exchange-traded funds 58.7 44.1 33.7 81.8 29.9 15.6 7.4 43.3 63.1 49

 50 FA403061105 Government-sponsored enterprises 15.2 52.0 78.9 8.9 255.1 103.9 -52.2 -74.8 -67.1 50

 51 FA673061103 ABS issuers 8.1 12.6 -2.7 -4.0 -5.8 -4.1 3.1 -7.0 -4.6 51

 52 FA663061105 Brokers and dealers 131.7 -47.8 -1.5 59.1 149.0 -141.3 -72.7 -401.2 54.1 52

 53 FA733061103 Holding companies 12.6 21.7 3.1 -28.3 6.0 -0.1 34.8 104.1 4.9 53

 54 FA503061303 Other financial business 0.0 0.0 95.7 0.0 382.5 0.1 0.1 -212.4 -34.0 54

 55 FA263061105 Rest of the world 120.2 223.6 -77.7 -1262.2 480.0 170.8 300.6 516.7 492.2 55

 56 FA263061110 Treasury bills 43.5 -30.6 311.3 5.8 1269.1 -71.0 41.1 -297.0 -150.2 56

 57 FA263061120 Other Treasury securities 76.7 254.2 -388.9 -1268.0 -789.1 241.8 259.5 813.7 642.4 57

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds.

 In the Financial Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as

 opposed to intragovernmental holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.

(3) Comprised primarily of nonmarketable Treasury securities.
Transactions

58 Z.1, September 23, 2021

F.211 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893161705 Net issues 245.4 316.9 657.2 1505.5 -222.5 532.8 812.9 698.1 600.9 1

 2 FA313161705 Budget agencies -1.5 -1.7 -1.0 -0.1 -0.7 -3.5 0.2 -1.5 -0.0 2

 3 FA403161705 Government-sponsored enterprises 81.1 204.9 635.9 1388.3 -177.4 505.6 827.2 665.9 483.5 3

 4 FA413065005 Agency- and GSE-backed mortgage pools 165.8 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 4

 5 FA893061705 Net purchases 245.4 316.9 657.2 1505.5 -222.5 532.8 812.9 698.1 600.9 5

 6 FA153061705 Household sector 169.3 123.9 -346.1 68.3 -1066.6 -193.0 -193.0 -370.4 20.9 6

 7 FA103061703 Nonfinancial corporate business -5.5 2.4 4.4 35.2 29.3 -20.0 -26.9 -12.6 -6.7 7

 8 FA313061703 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA213061703 State and local governments 5.6 2.4 -71.4 12.3 -199.8 -48.7 -49.4 -94.6 -32.8 9

 10 FA713061705 Monetary authority -136.2 -236.6 662.7 203.7 1909.0 303.8 234.4 592.6 527.6 10

 11 FA763061705 U.S.-chartered depository institutions 66.8 102.7 603.1 466.5 243.1 652.6 1050.3 939.5 439.8 11

 12 FA753061703 Foreign banking offices in U.S. -2.5 8.9 7.9 17.3 4.4 -10.7 20.5 6.6 -11.6 12

 13 FA743061703 Banks in U.S.-affiliated areas -0.1 -0.3 7.1 -4.3 8.0 13.2 11.4 7.7 1.7 13

 14 FA473061705 Credit unions -11.8 3.9 75.9 3.3 118.7 104.0 77.6 230.5 3.5 14

 15 FA513061705 Property-casualty insurance companies 20.2 6.2 3.0 -8.5 -13.1 35.0 -1.2 -9.8 -16.1 15

 16 FA543061705 Life insurance companies 1.6 -1.3 -20.2 -16.3 -40.3 5.1 -29.4 -37.1 -14.1 16

 17 FA573061705 Private pension funds 12.9 11.6 29.8 56.8 -18.1 41.6 38.7 14.7 32.1 17

 18 FA343061705 Federal government retirement funds -0.3 1.3 1.3 -2.8 2.9 2.0 3.2 -0.6 -0.4 18

 19 FA223061743 State and local govt. retirement funds 12.7 21.3 27.0 22.4 38.7 56.5 -9.8 11.9 30.2 19

 20 FA633061700 Money market funds -37.4 110.2 -124.7 820.7 -421.0 -538.3 -360.3 -120.5 -294.4 20

 21 FA653061703 Mutual funds 5.6 31.0 55.8 70.4 -481.6 476.9 157.5 72.9 31.6 21

 22 FA403061705 Government-sponsored enterprises -5.1 3.8 -29.3 -16.6 -0.5 -37.7 -62.5 -34.8 -27.1 22

 23 FA673061703 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA643061773 REITs 19.4 50.3 -129.4 -541.5 9.3 -0.7 15.3 -25.4 -46.0 24

 25 FA663061705 Brokers and dealers 20.4 17.9 -43.4 124.1 -120.1 -83.5 -94.3 -351.7 30.1 25

 26 FA733061703 Holding companies 14.0 2.3 -9.3 -13.5 -7.7 -6.5 -9.2 -9.5 -7.2 26

 27 FA263061705 Rest of the world 95.7 55.0 -47.0 208.0 -217.3 -218.7 40.1 -111.3 -60.2 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by Ginnie Mae, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are

 considered officially to be part of the total borrowing of the federal government, which is shown in table F.106, line 48.
Transactions

Z.1, September 23, 2021 59

F.212 Municipal Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA383162005 Net issues -46.1 9.0 83.4 30.4 95.8 181.5 25.8 121.5 116.1 1

 2 FA213162005 State and local governments -40.5 -2.9 88.6 27.5 107.2 171.5 48.4 112.1 101.0 2

 3 FA213162400 Short-term (1) 2.9 6.8 1.9 -6.0 8.7 4.7 0.1 -12.1 -11.6 3

 4 FA213162200 Long-term -43.4 -9.7 86.8 33.5 98.4 166.8 48.3 124.2 112.7 4

 5 FA163162003 Nonprofit organizations (2) -2.4 -3.3 -9.9 -11.7 -9.0 -5.4 -13.7 2.8 -1.0 5

 6 FA103162000 Nonfinancial corporate business -3.2 15.2 4.7 14.6 -2.5 15.4 -8.9 6.6 16.1 6

 (industrial revenue bonds)

 7 FA893062005 Net purchases -46.1 9.0 83.4 30.4 95.8 181.5 25.8 121.5 116.1 7

 8 FA153062005 Household sector 1.1 -67.5 -33.8 -7.0 -43.4 -5.5 -79.1 -105.6 -70.1 8

 9 FA103062003 Nonfinancial corporate business 1.7 4.8 0.2 -0.2 0.4 0.6 0.2 0.6 0.0 9

 10 FA113062003 Nonfinancial noncorporate business -0.3 0.1 0.3 1.1 0.5 0.1 -0.4 1.0 -0.2 10

 11 FA213062003 State and local governments 0.5 -0.9 1.5 0.1 3.9 1.4 0.5 4.1 2.1 11

 12 FA763062000 U.S.-chartered depository institutions -39.8 -29.5 68.9 127.7 50.2 49.4 48.3 72.3 56.8 12

 13 FA753062003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA743062003 Banks in U.S.-affiliated areas -0.1 -0.1 -1.1 0.1 -0.1 -0.6 -3.7 0.0 -0.0 14

 15 FA473062005 Credit unions -0.1 0.4 4.4 3.6 3.8 4.8 5.3 3.6 2.0 15

 16 FA513062005 Property-casualty insurance companies -38.9 -4.7 2.9 0.3 -0.1 3.9 7.7 -2.0 -2.0 16

 17 FA543062005 Life insurance companies -2.5 -1.0 -2.9 -4.0 -3.8 -1.5 -2.3 -0.8 0.3 17

 18 FA343062033 Federal government retirement funds -0.0 0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 18

 19 FA223062043 State and local govt. retirement funds 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA633062000 Money market funds 8.4 -8.9 -21.4 6.0 16.4 -44.1 -63.8 -12.1 -30.5 20

 21 FA653062003 Mutual funds 22.1 105.8 49.7 -88.0 52.8 147.8 86.2 123.8 118.8 21

 22 FA553062003 Closed-end funds 2.0 1.7 -0.3 0.5 -0.2 -0.0 -1.5 1.5 1.1 22

 23 FA563062003 Exchange-traded funds 6.6 10.5 14.2 3.8 15.9 15.0 22.0 21.0 24.3 23

 24 FA403062005 Government-sponsored enterprises -0.7 -0.6 -0.5 -0.2 -0.7 -0.2 -1.0 -0.2 -0.3 24

 25 FA663062003 Brokers and dealers -5.3 -5.2 -9.9 -10.0 -21.1 6.7 -15.2 8.6 7.1 25

 26 FA503062003 Other financial business 0.0 0.0 6.3 0.0 4.8 1.8 18.5 -0.9 -5.1 26

 27 FA263062003 Rest of the world -1.6 4.0 4.8 -3.3 16.5 2.0 3.9 6.8 11.9 27

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (table F.101).
Transactions

60 Z.1, September 23, 2021

F.213 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893163005 Net issues 331.5 398.9 923.3 976.4 2196.6 -19.8 540.1 1054.4 691.3 1

 2 FA103163003 Nonfinancial corporate business 149.3 257.0 675.4 731.9 1748.4 234.5 -13.3 418.6 70.5 2

 3 FA793163005 Domestic financial sectors 43.2 113.8 252.3 1046.0 87.7 -270.8 146.4 -22.3 575.6 3

 4 FA763163005 U.S.-chartered depository institutions 12.3 -18.7 29.2 46.5 19.3 16.6 34.3 17.3 -4.1 4

 5 FA673163005 ABS issuers (net) (1) -1.6 74.9 37.1 230.6 -47.2 -20.9 -14.0 68.5 112.9 5

 6 FA613163005 Finance companies 51.6 -42.7 1.5 103.1 2.3 -96.9 -2.4 -23.5 24.7 6

 7 FA643163005 REITs 31.0 69.3 42.2 -37.8 145.1 33.8 27.5 24.9 94.8 7

 8 FA663163003 Brokers and dealers -1.7 -10.0 9.9 331.7 -308.7 -57.2 73.8 49.8 32.7 8

 9 FA733163003 Holding companies -48.4 41.0 132.4 371.8 276.9 -146.2 27.3 -159.3 314.6 9

 10 FA503163003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA263163005 Rest of the world (2) 139.0 28.1 -4.4 -801.5 360.4 16.5 406.9 658.0 45.3 11

 12 FA893063005 Net purchases (3) 331.5 398.9 923.3 976.4 2196.6 -19.8 540.1 1054.4 691.3 12

 13 FA153063005 Household sector 53.8 27.6 28.8 677.2 467.7 -997.8 -32.0 -657.7 -401.0 13

 14 FA313063763 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA213063003 State and local governments 14.6 -4.1 1.8 30.9 24.0 -50.3 2.5 -5.7 34.6 15

 16 FA763063005 U.S.-chartered depository institutions -37.9 44.2 1.9 -134.8 135.4 131.7 -124.5 487.8 135.3 16

 17 FA763063605 MBS and other ABS -5.2 6.3 3.8 22.4 6.9 -8.3 -5.7 20.4 20.4 17

 18 FA763063095 Other -32.7 37.9 -1.9 -157.2 128.5 140.0 -118.8 467.5 114.9 18

 19 FA753063005 Foreign banking offices in U.S. -0.6 -29.1 6.8 145.9 -85.4 -15.9 -17.4 4.3 -7.7 19

 20 FA743063005 Banks in U.S.-affiliated areas -0.1 7.7 3.8 13.9 -4.0 -0.2 5.4 0.0 -9.6 20

 21 FA473063005 Credit unions 0.4 1.1 2.6 10.6 -1.7 1.7 -0.2 12.8 -4.7 21

 22 FA473063605 MBS and other ABS 0.2 1.2 2.5 10.2 -1.5 1.5 0.0 12.2 -4.8 22

 23 FA473063095 Other 0.2 -0.0 0.1 0.4 -0.1 0.2 -0.2 0.6 0.1 23

 24 FA513063005 Property-casualty insurance companies 56.6 34.7 47.0 67.5 45.8 48.3 26.4 60.1 65.2 24

 25 FA513063605 MBS and other ABS 12.9 8.0 11.0 15.8 10.7 11.3 6.2 13.0 14.1 25

 26 FA513063095 Other 43.7 26.7 36.0 51.8 35.1 37.0 20.2 47.1 51.0 26

 27 FA543063005 Life insurance companies 124.9 135.1 195.1 280.2 110.2 251.5 138.4 136.4 66.2 27

 28 FA543063675 MBS and other ABS 23.1 23.4 31.8 42.2 27.8 39.9 17.5 28.5 13.6 28

 29 FA543063095 Other 101.8 111.6 163.3 238.0 82.4 211.6 120.9 107.9 52.6 29

 30 FA573063005 Private pension funds 48.6 -13.8 -34.1 -34.8 -24.8 -60.4 -16.7 -24.8 -14.2 30

 31 FA343063005 Federal government retirement funds 0.0 1.0 0.9 -4.6 2.8 3.3 2.0 0.7 -0.5 31

 32 FA223063045 State and local govt. retirement funds -7.5 -128.4 34.4 87.5 57.0 -45.3 38.3 -25.6 7.6 32

 33 FA633063005 Money market funds -1.1 11.0 -5.9 -19.0 -4.2 14.4 -14.8 -0.3 -1.9 33

 34 FA653063005 Mutual funds 104.0 78.5 275.3 23.5 468.3 400.2 209.1 678.4 63.9 34

 35 FA553063003 Closed-end funds 0.5 2.0 1.5 6.1 -1.3 -0.6 1.9 8.2 2.6 35

 36 FA563063003 Exchange-traded funds 33.6 93.7 155.0 -42.4 295.1 194.8 172.5 108.3 163.9 36

 37 FA403063005 Government-sponsored enterprises -6.0 -2.7 -2.6 -4.5 0.1 -2.9 -3.0 -2.0 -1.8 37

 38 FA403063605 MBS and other ABS -5.6 -2.3 -2.2 -4.1 0.5 -2.6 -2.7 -1.7 -1.3 38

 39 FA403063095 Other -0.4 -0.4 -0.3 -0.3 -0.3 -0.3 -0.4 -0.3 -0.4 39

 40 FA613063003 Finance companies -4.5 -0.5 9.7 7.4 16.4 5.9 9.2 5.9 34.2 40

 41 FA643063005 REITs 11.4 -3.4 -25.2 -55.0 -28.9 -15.2 -1.7 -1.8 7.6 41

 42 FA663063005 Brokers and dealers 0.3 -14.5 7.0 9.7 -0.5 58.9 -40.2 -33.9 -7.5 42

 43 FA733063003 Holding companies 4.6 5.0 -2.4 2.0 10.8 -25.4 2.9 20.5 -11.3 43

 44 FA503063005 Other financial business -1.9 0.2 12.4 23.4 8.5 -2.0 19.5 2.4 51.8 44

 45 FA263063005 Rest of the world (4) -62.2 153.4 209.6 -114.5 705.1 85.3 162.5 280.3 518.7 45

 46 FA263063603 MBS and other ABS -2.7 -3.1 28.8 -35.2 -14.1 52.5 112.1 73.6 -10.2 46

 47 FA263063095 Other -59.6 156.4 180.8 -79.4 719.2 32.8 50.4 206.6 528.9 47

(1) Net issuance less net acquisition of corporate bonds held as assets.

(2) Net purchases of foreign issues by U.S. residents.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
Transactions

Z.1, September 23, 2021 61

F.214 Loans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 By instrument

 1 FA894123005 Net change in total loans 869.7 1025.7 1485.5 5087.2 -539.1 299.6 1094.1 1876.0 1522.3 1

 2 FA793068005 Depository institution loans n.e.c. 289.2 139.3 412.9 2606.3 121.9 -798.0 -278.6 110.4 -225.2 2

 3 FA893169005 Other loans and advances -171.7 103.6 344.8 1773.9 -1004.7 160.9 448.9 735.0 163.3 3

 4 FA893065005 Mortgages 579.5 597.7 739.7 680.6 578.3 862.4 837.4 879.1 1219.6 4

 5 FA893065105 One-to-four-family residential 321.6 307.7 478.9 392.8 339.1 629.4 554.3 650.4 945.6 5

 6 FA893065405 Multifamily residential 125.2 135.1 132.6 86.8 134.9 124.6 183.9 118.8 102.7 6

 7 FA893065505 Commercial 123.2 133.8 116.3 189.1 92.4 96.5 87.2 101.3 162.6 7

 8 FA893065603 Farm 9.5 21.1 11.9 11.8 11.8 12.0 12.0 8.6 8.7 8

 9 FA153166000 Consumer credit 172.7 185.1 -11.9 26.4 -234.6 74.3 86.3 151.5 364.7 9

 By sector

 10 FA894123005 Net change in liabilities 869.7 1025.7 1485.5 5087.2 -539.1 299.6 1094.1 1876.0 1522.3 10

 11 FA384123005 Domestic nonfinancial sectors 827.9 1000.5 1453.3 2934.4 1120.9 745.5 1012.2 1670.7 1399.3 11

 12 FA154123005 Household sector 473.0 517.2 629.8 591.6 -1.9 910.1 1019.3 1118.3 1344.9 12

 13 FA104123005 Nonfinancial corporate business 212.1 209.2 311.6 1710.7 183.5 -537.6 -110.2 305.2 -73.9 13

 14 FA114123005 Nonfinancial noncorporate business 293.4 273.1 510.9 631.6 938.7 371.2 102.0 246.5 128.3 14

 15 FA314123005 Federal government -151.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA213169203 State and local governments 1.1 1.0 1.0 0.4 0.7 1.8 1.1 0.7 0.0 16

 17 FA794123005 Domestic financial sectors -10.7 -69.0 -31.1 1798.7 -1509.6 -425.4 11.8 131.1 14.3 17

 18 FA763169305 U.S.-chartered depository institutions -9.2 -92.3 -232.6 667.1 -1094.8 -267.8 -234.9 44.6 -242.7 18

 19 FA473169333 Credit unions 2.9 -5.5 -9.0 42.4 -49.2 -11.2 -18.0 -11.9 -4.5 19

 20 FA513169333 Property-casualty insurance companies 0.5 0.2 6.4 9.8 1.2 19.8 -5.0 -2.5 -3.9 20

 21 FA543169373 Life insurance companies 6.4 7.5 15.3 76.0 2.2 -18.4 1.3 33.3 -14.0 21

 22 FA403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA614123005 Finance companies -0.4 5.9 24.8 27.7 25.9 32.6 12.9 -11.9 163.0 23

 24 FA644123005 REITs -12.9 -8.2 -7.6 144.0 -134.1 -47.4 7.1 -21.8 -7.9 24

 25 FA664123005 Brokers and dealers 2.1 23.4 130.9 831.6 -321.2 -152.3 165.7 108.4 132.6 25

 26 FA504123005 Other financial business 0.0 0.0 40.7 0.0 60.6 19.3 82.8 -7.0 -8.2 26

 27 FA264123005 Rest of the world 52.4 94.2 63.3 354.2 -150.4 -20.6 70.1 74.2 108.7 27

 28 FA894123005 Net change in assets 869.7 1025.7 1485.5 5087.2 -539.1 299.6 1094.1 1876.0 1522.3 28

 29 FA384023005 Domestic nonfinancial sectors 83.2 128.5 374.5 684.3 441.9 152.8 218.9 163.2 168.6 29

 30 FA154023005 Household sector -21.2 32.7 109.3 621.1 -114.4 -156.6 87.2 44.6 58.1 30

 31 FA104023005 Nonfinancial corporate business 2.2 1.5 2.4 -5.8 -6.6 -18.6 40.5 -7.8 -7.5 31

 32 FA114023005 Nonfinancial noncorporate business 1.0 2.7 4.3 6.5 8.3 2.7 -0.5 6.1 0.7 32

 33 FA314023005 Federal government 99.1 93.5 253.2 76.0 541.8 312.3 82.8 112.6 113.1 33

 34 FA213065005 State and local governments 2.1 -1.9 5.3 -13.6 12.9 13.0 8.9 7.6 4.1 34

 35 FA794023005 Domestic financial sectors 763.0 799.7 1036.2 4234.7 -1007.3 86.9 830.4 1614.0 1277.8 35

 36 FA713068005 Monetary authority 0.0 0.0 52.2 234.9 -111.1 3.0 82.1 26.0 109.8 36

 37 FA764023005 U.S.-chartered depository institutions 438.1 359.6 286.7 1881.3 161.5 -509.0 -387.1 50.4 -8.3 37

 38 FA754023005 Foreign banking offices in U.S. 40.1 28.3 17.8 634.8 -252.5 -237.5 -73.5 -70.0 11.8 38

 39 FA744023003 Banks in U.S.-affiliated areas -1.2 3.5 0.9 7.6 8.5 -5.7 -6.8 -9.5 -3.7 39

 40 FA474023000 Credit unions 86.9 68.5 60.4 81.1 78.5 64.4 17.6 57.7 85.0 40

 41 FA513065505 Property-casualty insurance companies 2.7 2.4 1.4 3.0 0.3 -0.7 3.1 0.2 4.9 41

 42 FA544023005 Life insurance companies 60.3 50.1 27.2 53.9 9.4 5.2 40.2 12.1 45.1 42

 43 FA573065005 Private pension funds -2.8 -0.6 -5.4 -6.6 -5.0 -5.0 -4.7 -1.8 -4.0 43

 44 FA313169003 Federal government retirement funds -151.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 FA223065043 State and local govt. retirement funds 5.4 -0.9 -0.6 1.8 -3.1 1.3 -2.5 2.4 -0.6 45

 46 FA653069803 Mutual funds 0.7 -33.7 -29.0 -120.0 -0.2 -2.8 7.0 61.3 65.8 46

 47 FA404023005 Government-sponsored enterprises 149.3 96.7 417.7 1056.3 -552.6 439.9 727.2 958.5 595.3 47

 48 FA413065005 Agency- and GSE-backed mortgage pools 165.8 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 48

 49 FA674023005 ABS issuers 1.6 50.5 32.3 211.6 -54.0 -4.7 -23.9 9.6 11.7 49

 50 FA614023005 Finance companies -6.0 -4.5 -9.9 16.0 -100.2 35.8 8.7 45.9 62.9 50

 51 FA643065005 REITs 20.2 18.9 -14.6 -92.3 -11.2 48.6 -3.5 25.8 63.6 51

 52 FA663069005 Brokers and dealers -26.6 32.5 165.3 86.4 -84.4 267.2 391.9 361.8 92.5 52

 53 FA733069005 Holding companies -18.8 13.4 -11.1 44.3 -38.7 -57.7 8.0 58.3 33.7 53

 54 FA503069005 Other financial business -0.9 1.4 22.5 23.1 -8.1 14.1 61.1 -8.6 -5.0 54

 55 FA263069500 Rest of the world 23.5 97.5 74.8 168.3 26.3 59.8 44.8 98.9 75.9 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
Transactions

62 Z.1, September 23, 2021

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA793068005 Net change in liabilities 289.2 139.3 412.9 2606.3 121.9 -798.0 -278.6 110.4 -225.2 1

 2 FA153168005 Household sector 39.9 11.1 20.4 135.0 -32.6 -44.7 23.8 -3.1 7.1 2

 3 FA103168005 Nonfinancial corporate business 103.4 30.9 77.6 1334.7 -3.0 -755.4 -265.9 32.6 -356.2 3

 4 FA113168005 Nonfinancial noncorporate business 77.9 16.0 173.3 368.9 545.1 26.3 -247.0 -2.3 -202.9 4

 5 FA793168005 Domestic financial sectors 9.8 -5.9 75.6 434.7 -266.8 -21.3 155.9 11.8 216.3 5

 6 FA613168005 Finance companies 2.3 5.6 25.3 27.9 27.3 32.1 13.8 -10.3 162.9 6

 7 FA643168005 REITs 3.3 -9.2 -0.5 156.5 -114.0 -49.7 5.4 0.6 -5.7 7

 8 FA663168005 Brokers and dealers 4.2 -2.3 10.2 250.3 -240.7 -22.9 54.0 28.6 67.2 8

 9 FA713068505 Other financial business (2) 0.0 0.0 40.7 0.0 60.6 19.3 82.8 -7.0 -8.2 9

 10 FA263168005 Rest of the world 58.2 87.1 66.0 332.9 -120.7 -2.9 54.6 71.4 110.5 10

 11 FA263168465 Foreign official institutions 0.1 -0.9 -0.9 -1.3 -1.7 -1.3 0.8 3.3 -1.5 11

 12 FA263168485 Foreign nonfinancial corporations 0.6 -4.8 -8.8 135.7 -25.0 -80.7 -65.2 9.8 -8.6 12

 13 FA263168495 Foreign nondepository financial institutions 57.4 92.9 75.7 198.5 -94.0 79.1 119.0 58.2 120.6 13

 14 FA793068005 Net change in assets 289.2 139.3 412.9 2606.3 121.9 -798.0 -278.6 110.4 -225.2 14

 15 FA713068005 Monetary authority (3) 0.0 0.0 52.2 234.9 -111.1 3.0 82.1 26.0 109.8 15

 16 FA763068005 U.S.-chartered depository institutions 253.4 98.7 335.2 1734.9 454.3 -564.6 -283.8 139.0 -293.1 16

 17 FA753068005 Foreign banking offices in U.S. 32.1 25.5 17.3 626.1 -250.1 -235.6 -71.3 -67.6 7.6 17

 18 FA743068005 Banks in U.S.-affiliated areas 0.5 5.0 0.6 8.0 6.6 -6.2 -6.2 -5.2 -1.4 18

 19 FA473068005 Credit unions 3.2 10.1 7.7 2.4 22.2 5.4 0.7 18.2 -48.0 19

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to Federal Reserve funding, credit, and liquidity facility special purpose vehicles.

(3) Loans from Federal Reserve banks to the household, broker and dealer, finance companies, and other financial business sectors.
Transactions

Z.1, September 23, 2021 63

F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893169005 Net change in total other loans and advances -171.7 103.6 344.8 1773.9 -1004.7 160.9 448.9 735.0 163.3 1

 2 FA313069205 U.S. government loans 5.1 9.9 188.2 -13.8 457.9 264.1 44.4 29.8 34.7 2

 3 FA153169203 Liab.: Household sector 5.9 4.5 10.2 4.2 17.6 12.2 6.9 4.0 9.4 3

 4 FA103169205 Nonfinancial corporate business -0.0 4.0 110.5 -20.0 280.8 160.8 20.5 13.7 19.2 4

 5 FA113169205 Nonfinancial noncorporate business 1.7 2.6 67.7 4.9 159.1 90.4 16.4 9.5 11.2 5

 6 FA213169203 State and local governments 1.1 1.0 1.0 0.4 0.7 1.8 1.1 0.7 0.0 6

 7 FA403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA313069223 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA503169205 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA263169203 Rest of the world -3.7 -2.2 -1.3 -3.3 -0.3 -1.0 -0.5 1.9 -5.0 10

 11 FA313169003 Federal government retirement funds’ loans -151.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA313169003 Liab.: Federal government -151.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA263069500 Foreign loans to U.S. corporate business 23.5 97.5 74.8 168.3 26.3 59.8 44.8 98.9 75.9 13

 14 FA263069500 Liab.: Nonfinancial corporate business 23.5 97.5 74.8 168.3 26.3 59.8 44.8 98.9 75.9 14

 Customers’ liability on acceptances outstanding

 15 FA763069703 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA753069703 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA103169705 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA263169705 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FA733069005 Holding company loans -18.8 13.4 -11.1 44.3 -38.7 -57.7 8.0 58.3 33.7 19

 20 FA733069013 Liab.: Nonfinancial corporate business -16.7 4.2 -9.7 19.7 -9.3 -41.1 -8.1 57.3 30.4 20

 21 FA733069023 Rest of the world -2.1 9.2 -1.4 24.6 -29.4 -16.6 16.1 1.0 3.2 21

 22 FA153169405 Policy loans (Household liability) 0.1 -2.8 -0.5 4.3 -3.0 2.2 -5.7 -3.1 -3.0 22

 23 FA313069403 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 23

 24 FA543069405 Life insurance companies 0.1 -2.8 -0.5 4.3 -3.0 2.3 -5.7 -3.0 -3.0 24

 25 FA403069330 Federal Home Loan Banks advances (1) -2.6 -90.6 -228.6 779.6 -1153.8 -282.6 -257.7 61.9 -265.1 25

 26 FA763169335 Liab.: U.S.-chartered depository institutions -9.2 -92.3 -232.6 667.1 -1094.8 -267.8 -234.9 44.6 -242.7 26

 27 FA473169333 Credit unions 2.9 -5.5 -9.0 42.4 -49.2 -11.2 -18.0 -11.9 -4.5 27

 28 FA513169333 Property-casualty insurance companies 0.5 0.2 6.4 9.8 1.2 19.8 -5.0 -2.5 -3.9 28

 29 FA543169373 Life insurance companies 6.4 7.5 15.3 76.0 2.2 -18.4 1.3 33.3 -14.0 29

 30 FA613169333 Finance companies -2.7 0.4 -0.5 -0.2 -1.4 0.5 -0.9 -1.6 0.0 30

 31 FA643169373 Real estate investment trusts -0.4 -0.9 -8.2 -15.6 -11.7 -5.5 -0.2 0.0 -0.0 31

 32 FA403069395 Govt.-sponsored enterprises loans (2) 6.8 7.4 13.5 5.3 13.0 15.0 20.6 2.1 -1.7 32

 33 FA153169305 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 FA183169305 Nonfinancial corporate business (FCS) 1.0 1.1 1.8 1.1 -0.4 1.7 4.6 2.8 -1.5 34

 35 FA113169305 Nonfinancial noncorporate business (FCS) 5.7 6.3 11.7 4.2 13.4 13.3 16.0 -0.7 -0.2 35

 36 FA763169383 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FA673069505 Securitized loans held by ABS issuers 0.1 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 FA673069505 Liab.: Nonfinancial corporate business 0.1 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 FA613069505 Finance company loans to business 9.8 -10.4 -16.4 51.5 -112.2 5.3 -10.4 8.6 27.6 39

 40 FA103169535 Liab.: Nonfinancial corporate business 8.9 -9.3 -21.8 46.4 -111.9 -8.9 -12.7 -22.7 -62.8 40

 41 FA113169535 Nonfinancial noncorporate business 1.0 -1.0 5.3 5.2 -0.3 14.2 2.3 31.2 90.4 41

 42 FA663067003 Margin accounts at brokers and dealers -31.0 23.3 156.7 48.3 -72.9 262.2 389.3 365.3 86.1 42

 43 FA663067003 Liab.: Household sector -31.0 23.3 156.7 48.3 -72.9 262.2 389.3 365.3 86.1 43

 44 FA153067005 Cash accounts at brokers and dealers -2.0 25.7 120.8 581.3 -80.6 -129.4 111.7 79.8 65.3 44

 45 FA153067005 Asset: Household sector -2.0 25.7 120.8 581.3 -80.6 -129.4 111.7 79.8 65.3 45

 46 FA103169803 Loans to nonfinancial corporate business (3) -5.8 31.0 28.0 105.5 -41.1 1.9 45.8 40.5 114.1 46

 47 FA153069803 Asset: Household sector -4.6 13.9 -2.2 50.0 -22.3 -18.6 -17.8 -29.3 1.1 47

 48 FA543069873 Life insurance companies -1.3 1.8 2.2 14.9 -6.6 -2.1 2.5 5.8 6.6 48

 49 FA653069803 Mutual funds 0.7 -33.7 -29.0 -120.0 -0.2 -2.8 7.0 61.3 65.8 49

 50 FA673069803 ABS issuers -4.0 38.4 46.0 99.2 8.6 26.9 49.2 9.0 36.2 50

 51 FA663069803 Brokers and dealers 4.3 9.1 8.5 38.1 -11.4 5.0 2.6 -3.5 6.4 51

 52 FA503069805 Other financial business -0.9 1.4 2.5 23.1 -9.1 -6.4 2.4 -2.8 -1.9 52

 53 FA503069075 Other financial business loans (4) 0.0 0.0 20.1 0.0 1.0 20.5 58.7 -5.7 -3.1 53

 54 FA503069003 Liab.: Household sector (TALF II) 0.0 0.0 3.6 0.0 1.0 11.7 1.5 -5.7 -2.1 54

 55 FA503069013 Nonfinancial corporate business (MSLF) 0.0 0.0 6.0 0.0 0.0 3.2 20.6 -0.1 -0.4 55

 56 FA503069023 Nonfinancial noncorporate business (MSLF) 0.0 0.0 10.5 0.0 0.0 5.5 36.4 -0.0 -0.7 56

 57 FA503069033 Nonprofit organizations (MSLF) 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 -0.0 57

 58 FA163069005 Nonprofit organization loans -5.2 -0.3 -0.6 -0.6 -0.6 -0.6 -0.6 -1.3 -1.3 58

 59 FA153169055 Liab.: Household sector -5.5 -1.1 -1.4 -1.4 -1.4 -1.4 -1.4 -2.0 -2.0 59

 60 FA163069043 Nonfinancial noncorporate business 0.4 0.8 0.8 0.8 0.8 0.8 0.8 0.7 0.7 60

(1) The Federal Home Loan Banks are included in the government-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 25.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.

(4) 2020 Term Asset-Backed Securities Loan Facility (TALF II) loans to domestic hedge funds and private equity funds and Main Street Lending Facility (MSLF) loans to nonfinancial businesses.
Transactions

64 Z.1, September 23, 2021

F.217 Total Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893065005 Net change in mortgages 579.5 597.7 739.7 680.6 578.3 862.4 837.4 879.1 1219.6 1

 2 FA893065105 One-to-four-family residential 321.6 307.7 478.9 392.8 339.1 629.4 554.3 650.4 945.6 2

 3 FA893065405 Multifamily residential 125.2 135.1 132.6 86.8 134.9 124.6 183.9 118.8 102.7 3

 4 FA893065505 Commercial 123.2 133.8 116.3 189.1 92.4 96.5 87.2 101.3 162.6 4

 5 FA893065603 Farm 9.5 21.1 11.9 11.8 11.8 12.0 12.0 8.6 8.7 5

 6 FA893065005 Net borrowing 579.5 597.7 739.7 680.6 578.3 862.4 837.4 879.1 1219.6 6

 7 FA153165005 Household sector 290.8 297.1 452.7 374.8 324.0 593.5 518.3 611.4 884.7 7

 8 FA143165005 Nonfinancial business 304.5 298.7 285.9 302.7 262.7 261.0 317.2 290.0 337.1 8

 9 FA103165005 Corporate 97.8 50.3 44.4 55.1 42.1 40.3 40.1 82.1 107.3 9

 10 FA113165005 Noncorporate 206.7 248.4 241.5 247.7 220.6 220.6 277.1 208.0 229.8 10

 11 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA123165005 REITs -15.8 1.9 1.1 3.1 -8.4 7.9 1.9 -22.3 -2.2 12

 13 FA893065005 Net change in assets 579.5 597.7 739.7 680.6 578.3 862.4 837.4 879.1 1219.6 13

 14 FA153065005 Household sector -5.5 -2.5 -5.5 -5.0 -6.9 -4.6 -5.4 -3.6 -6.1 14

 15 FA103065003 Nonfinancial corporate business 2.0 2.2 2.4 2.3 2.3 2.4 2.4 2.4 2.5 15

 16 FA113065005 Nonfinancial noncorporate business 1.0 2.7 4.3 6.5 8.3 2.7 -0.5 6.1 0.7 16

 17 FA313065005 Federal government 3.4 0.6 3.3 6.1 5.6 -4.0 5.7 4.4 4.9 17

 18 FA313065015 Ginnie Mae -0.4 -0.3 -0.2 -0.2 -0.2 -0.2 -0.3 -0.3 -0.3 18

 19 FA313065075 Farmers Home Administration (FmHA) (2) 3.2 0.1 2.5 6.3 5.4 -5.5 3.7 2.7 1.6 19

 20 FA313065035 Federal Housing Administration (FHA) 0.6 0.9 1.1 0.0 0.4 1.8 2.3 1.9 3.6 20

 21 FA313065065 Federal Deposit Insurance Corporation -0.1 -0.0 -0.0 0.0 -0.1 0.0 -0.0 0.0 0.0 21

 22 FA313065095 Other (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA213065005 State and local governments 2.1 -1.9 5.3 -13.6 12.9 13.0 8.9 7.6 4.1 23

 24 FA703065005 Private depository institutions 170.3 214.7 88.0 256.6 84.1 108.6 -97.2 -89.5 156.1 24

 25 FA763065005 U.S.-chartered depository institutions 122.2 171.8 41.5 177.5 30.6 66.1 -108.3 -111.2 77.0 25

 26 FA753065005 Foreign banking offices in U.S. 8.1 2.8 0.5 8.7 -2.4 -2.0 -2.2 -2.4 4.2 26

 27 FA743065003 Banks in U.S.-affiliated areas -1.7 -1.5 0.3 -0.4 1.9 0.4 -0.6 -4.3 -2.3 27

 28 FA473065100 Credit unions 41.8 41.6 45.6 70.7 53.9 44.1 13.9 28.4 77.2 28

 29 FA513065505 Property-casualty insurance companies 2.7 2.4 1.4 3.0 0.3 -0.7 3.1 0.2 4.9 29

 30 FA543065005 Life insurance companies 61.4 51.1 25.5 34.7 19.0 5.0 43.4 9.4 41.4 30

 31 FA573065005 Private pension funds -2.8 -0.6 -5.4 -6.6 -5.0 -5.0 -4.7 -1.8 -4.0 31

 32 FA223065043 State and local govt. retirement funds 5.4 -0.9 -0.6 1.8 -3.1 1.3 -2.5 2.4 -0.6 32

 33 FA403065005 Government-sponsored enterprises 145.1 180.0 632.9 271.4 588.2 707.5 964.3 894.5 862.1 33

 34 FA403065015 Fannie Mae 70.3 77.5 290.4 133.9 372.5 273.7 381.4 354.8 452.0 34

 35 FA403065025 Freddie Mac 59.1 85.1 335.3 117.7 203.9 438.4 581.4 536.6 400.9 35

 36 FA403065045 Farm Credit System 6.9 6.0 14.9 6.8 15.8 15.5 21.7 12.9 18.7 36

 37 FA403065035 FHLB 8.7 9.9 -9.7 11.4 -6.7 -21.6 -21.8 -10.0 -11.4 37

 38 FA403065653 Farmer Mac 0.1 1.4 1.9 1.6 2.7 1.5 1.7 0.3 1.8 38

 39 FA413065005 Agency- and GSE-backed mortgage pools 165.8 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 39

 40 FA413065015 Ginnie Mae 128.8 75.3 -14.2 107.2 -48.5 -43.9 -71.5 -12.1 73.9 40

 41 FA413065025 Freddie Mac 40.9 39.9 37.7 12.7 5.9 74.6 57.7 46.5 44.3 41

 42 FA413065045 Fannie Mae -3.7 -1.1 -1.1 -2.4 -1.8 0.4 -0.5 -0.4 -0.8 42

 43 FA413065653 Farmer Mac -0.2 -0.4 -0.2 -0.2 -0.1 -0.3 -0.2 -0.4 0.1 43

 44 FA413065035 Farmers Home Administration (FmHA) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 FA673065005 ABS issuers 17.4 14.9 -12.5 114.6 -60.8 -28.4 -75.2 2.0 -24.1 45

 46 FA613065000 Finance companies -8.9 2.5 -7.2 -16.2 -10.9 -14.6 13.1 -14.5 -3.6 46

 47 FA643065005 REITs 20.2 18.9 -14.6 -92.3 -11.2 48.6 -3.5 25.8 63.6 47

(1) Sum of one-to-four-family residential mortgages (table L.218), multifamily residential mortgages (table L.219), commercial mortgages (table L.220), and farm mortgages (table L.221).

(2) FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting changes by

 the Farmers Home Administration.

(3) Other includes Department of Veterans Affairs, Federal Financing Bank, Public Housing Administration, and Resolution Trust Corporation.
Transactions

Z.1, September 23, 2021 65

F.218 One-to-four-family Residential Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893065105 Net borrowing 321.6 307.7 478.9 392.8 339.1 629.4 554.3 650.4 945.6 1

 2 FA153165105 Household sector 294.2 294.2 451.2 373.4 322.5 592.1 516.9 610.2 883.6 2

 3 FA103165105 Nonfinancial corporate business 1.0 0.2 -0.5 1.3 -0.9 -1.5 -0.9 0.6 3.0 3

 4 FA113165105 Nonfinancial noncorporate business 26.5 13.3 28.2 18.2 17.4 38.7 38.3 39.5 59.0 4

 5 FA893065105 Net change in assets 321.6 307.7 478.9 392.8 339.1 629.4 554.3 650.4 945.6 5

 6 FA153065103 Household sector -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 6

 7 FA103065105 Nonfinancial corporate business 1.2 1.3 1.4 1.4 1.4 1.4 1.4 1.5 1.5 7

 8 FA113065103 Nonfinancial noncorporate business 0.4 1.0 1.6 2.4 3.0 1.0 -0.2 2.2 0.3 8

 9 FA313065105 Federal government 0.1 0.0 1.2 1.0 0.2 1.9 1.7 0.9 3.5 9

 10 FA213065103 State and local governments 1.2 -0.9 2.1 -6.9 3.7 7.0 4.8 2.7 2.1 10

 11 FA763065105 U.S.-chartered depository institutions 32.1 54.4 -60.8 34.6 -86.6 -20.7 -170.6 -153.0 -48.8 11

 12 FA753065103 Foreign banking offices in U.S. 0.5 -0.2 -0.2 -0.3 0.4 -0.6 -0.3 -0.7 0.0 12

 13 FA743065103 Banks in U.S.-affiliated areas -1.2 -0.9 0.3 -0.7 1.5 1.4 -0.9 -2.6 -1.8 13

 14 FA473065100 Credit unions 41.8 41.6 45.6 70.7 53.9 44.1 13.9 28.4 77.2 14

 15 FA543065105 Life insurance companies 6.3 7.4 1.4 2.1 0.4 -0.4 3.3 1.3 2.7 15

 16 FA573065103 Private pension funds -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 FA223065143 State and local govt. retirement funds 2.0 -0.3 -0.2 0.7 -1.1 0.5 -0.9 0.9 -0.2 17

 18 FA403065105 Government-sponsored enterprises 113.4 135.2 570.0 246.0 498.6 681.2 854.1 860.8 865.7 18

 19 FA413065105 Agency- and GSE-backed mortgage pools 123.0 76.0 -15.8 106.0 -54.8 -42.1 -72.4 -28.7 67.3 19

 20 FA673065105 ABS issuers 4.8 -5.0 -31.5 43.8 -42.9 -43.5 -83.3 -57.8 -42.8 20

 21 FA613065105 Finance companies -8.1 -1.7 -8.2 -15.6 -14.9 -14.0 11.5 -13.0 -1.0 21

 22 FA643065105 REITs 7.7 3.3 -24.3 -88.7 -20.1 16.0 -4.3 11.1 23.6 22

 Memo:

 23 FV893065153 Charge-offs (2) 19.8 15.7 8.8 2.9 2.0 2.3 1.6 1.2 1.0 23

 24 FA893065125 Home equity loans included above (3) -32.6 -30.5 -58.4 -22.4 -76.8 -61.0 -73.6 -81.0 -30.4 24

 25 FA763065125 U.S.-chartered depository institutions -36.3 -35.2 -48.0 -18.0 -61.2 -52.4 -60.6 -64.9 -39.5 25

 26 FA753065203 Foreign banking offices in U.S. -0.0 0.1 -0.2 -0.2 0.1 -0.3 -0.5 -0.0 -0.1 26

 27 FA473065125 Credit unions 5.3 3.5 -7.0 -1.3 -10.8 -3.8 -12.1 -13.2 12.0 27

 28 FA673065123 ABS issuers -0.0 1.5 -1.5 -1.5 -1.4 -1.6 -1.7 -2.1 -2.1 28

 29 FA613065123 Finance companies -1.6 -0.3 -1.7 -1.4 -3.6 -3.0 1.4 -0.9 -0.7 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from transactions (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893065405 Net borrowing 125.2 135.1 132.6 86.8 134.9 124.6 183.9 118.8 102.7 1

 2 FA103165405 Nonfinancial corporate business 6.5 6.8 6.6 4.2 6.7 6.4 9.0 5.9 5.0 2

 3 FA113165405 Nonfinancial noncorporate business 123.2 129.4 125.0 80.1 126.8 121.5 171.6 112.4 94.6 3

 4 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA123165403 REITs -4.4 -1.1 1.0 2.5 1.4 -3.3 3.3 0.5 3.2 5

 6 FA893065405 Net change in assets 125.2 135.1 132.6 86.8 134.9 124.6 183.9 118.8 102.7 6

 7 FA153065403 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA103065403 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA113065403 Nonfinancial noncorporate business 0.4 0.9 1.5 2.2 2.8 0.9 -0.2 2.1 0.2 9

 10 FA313065405 Federal government -0.3 -0.3 -0.5 -0.9 -0.2 -0.6 -0.3 0.1 -0.1 10

 11 FA213065403 State and local governments 0.7 -0.8 2.6 -5.5 6.3 5.6 4.0 2.7 1.6 11

 12 FA763065403 U.S.-chartered depository institutions 27.6 29.7 24.8 44.5 28.6 22.0 3.9 6.2 40.6 12

 13 FA753065403 Foreign banking offices in U.S. 3.5 1.9 2.6 4.8 1.3 2.0 2.4 0.1 1.7 13

 14 FA543065405 Life insurance companies 21.9 25.2 7.7 8.7 5.6 2.7 13.7 5.3 10.1 14

 15 FA573065403 Private pension funds -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 15

 16 FA223065443 State and local govt. retirement funds 1.6 -0.3 -0.2 0.6 -0.9 0.4 -0.8 0.7 -0.2 16

 17 FA403065405 Government-sponsored enterprises 25.8 31.2 55.4 18.3 81.3 19.2 102.9 29.4 -9.5 17

 18 FA413065405 Agency- and GSE-backed mortgage pools 43.0 38.1 38.3 11.5 10.5 73.0 58.0 62.8 50.1 18

 19 FA673065405 ABS issuers 0.5 2.5 5.0 26.7 0.8 -4.1 -3.5 5.8 2.0 19

 20 FA613065403 Finance companies -0.7 -0.2 -0.2 -0.2 -0.2 -0.3 -0.2 -0.2 -0.2 20

 21 FA643065405 REITs 1.4 7.4 -4.1 -23.5 -0.8 3.9 4.1 4.2 6.7 21
Transactions

66 Z.1, September 23, 2021

F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893065505 Net borrowing 123.2 133.8 116.3 189.1 92.4 96.5 87.2 101.3 162.6 1

 2 FA163165505 Nonprofit organizations (1) -3.3 2.9 1.4 1.4 1.4 1.4 1.4 1.1 1.1 2

 3 FA103165505 Nonfinancial corporate business 87.7 37.5 34.7 46.5 32.8 31.7 27.8 72.1 97.0 3

 4 FA113165505 Nonfinancial noncorporate business 50.2 90.4 80.0 140.6 68.0 52.1 59.4 50.9 69.9 4

 5 FA123165503 REITs -11.4 3.0 0.1 0.5 -9.8 11.2 -1.4 -22.8 -5.4 5

 6 FA893065505 Net change in assets 123.2 133.8 116.3 189.1 92.4 96.5 87.2 101.3 162.6 6

 7 FA153065505 Household sector 0.3 0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.1 7

 8 FA103065503 Nonfinancial corporate business 0.8 0.8 0.9 0.9 0.9 0.9 0.9 0.9 1.0 8

 9 FA113065503 Nonfinancial noncorporate business 0.3 0.7 1.2 1.8 2.3 0.7 -0.1 1.7 0.2 9

 10 FA313065505 Federal government 2.8 -0.1 1.3 4.8 4.0 -6.6 2.9 2.4 0.0 10

 11 FA213065503 State and local governments 0.1 -0.2 0.4 -1.1 2.5 0.3 -0.0 2.1 0.4 11

 12 FA763065503 U.S.-chartered depository institutions 58.1 82.6 73.2 94.1 84.3 60.3 53.9 32.4 82.0 12

 13 FA753065503 Foreign banking offices in U.S. 3.9 1.0 -1.8 4.2 -4.1 -3.0 -4.3 -1.6 2.6 13

 14 FA743065505 Banks in U.S.-affiliated areas -0.5 -0.6 0.0 0.3 0.4 -0.9 0.3 -1.7 -0.5 14

 15 FA513065505 Property-casualty insurance companies 2.7 2.4 1.4 3.0 0.3 -0.7 3.1 0.2 4.9 15

 16 FA543065505 Life insurance companies 32.3 17.6 15.7 23.1 12.3 1.9 25.7 2.3 28.0 16

 17 FA573065505 Private pension funds -2.4 -0.2 -5.0 -6.2 -4.6 -4.6 -4.3 -1.4 -3.6 17

 18 FA223065545 State and local govt. retirement funds 1.8 -0.3 -0.2 0.6 -1.0 0.4 -0.9 0.8 -0.2 18

 19 FA413065505 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA673065505 ABS issuers 12.2 17.4 14.0 44.1 -18.7 19.3 11.5 54.0 16.8 20

 21 FA613065503 Finance companies -0.2 4.3 1.3 -0.4 4.2 -0.3 1.8 -1.3 -2.4 21

 22 FA643065505 REITs 11.1 8.3 13.8 20.0 9.7 28.6 -3.3 10.5 33.3 22

(1) Liability of the households and nonprofit organizations sector (table F.101).

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893065603 Net borrowing 9.5 21.1 11.9 11.8 11.8 12.0 12.0 8.6 8.7 1

 2 FA183165605 Nonfinancial corporate business 2.6 5.8 3.6 3.1 3.5 3.7 4.2 3.4 2.3 2

 3 FA233165605 Nonfinancial noncorporate business 6.9 15.3 8.3 8.8 8.4 8.3 7.8 5.2 6.3 3

 4 FA893065603 Net change in assets 9.5 21.1 11.9 11.8 11.8 12.0 12.0 8.6 8.7 4

 5 FA153065605 Household sector -2.4 0.9 -2.0 -1.6 -3.5 -1.1 -2.0 -0.1 -2.7 5

 6 FA113065603 Nonfinancial noncorporate business 0.0 0.1 0.1 0.1 0.2 0.1 -0.0 0.1 0.0 6

 7 FA313065605 Federal government 0.8 1.0 1.4 1.2 1.6 1.3 1.4 1.0 1.6 7

 8 FA213065603 State and local governments 0.0 -0.0 0.2 -0.1 0.4 0.1 0.1 0.1 0.1 8

 9 FA763065633 U.S.-chartered depository institutions 4.4 5.1 4.4 4.3 4.3 4.4 4.4 3.1 3.2 9

 10 FA753065603 Foreign banking offices in U.S. 0.1 0.0 -0.1 0.1 -0.1 -0.4 0.1 -0.2 -0.1 10

 11 FA543065633 Life insurance companies 0.9 0.8 0.7 0.7 0.7 0.8 0.7 0.5 0.5 11

 12 FA223065643 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA403065605 Government-sponsored enterprises 5.9 13.6 7.5 7.1 8.3 7.1 7.3 4.3 5.9 13

 14 FA413065605 Agency- and GSE-backed mortgage pools -0.2 -0.4 -0.2 -0.2 -0.1 -0.3 -0.2 -0.4 0.1 14

(1) Excludes mortgages on farm houses.
Transactions

Z.1, September 23, 2021 67

F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA153166000 Net change in liabilities (Households) 172.7 185.1 -11.9 26.4 -234.6 74.3 86.3 151.5 364.7 1

 2 FA153166000 Net change in assets 172.7 185.1 -11.9 26.4 -234.6 74.3 86.3 151.5 364.7 2

 3 FA163066223 Nonprofit organizations (1) -3.9 -4.0 -3.1 -4.6 -4.0 -3.4 -0.6 -1.1 -1.0 3

 4 FA103066005 Nonfinancial corporate business 0.2 -0.7 0.0 -8.1 -9.0 -21.0 38.1 -10.2 -10.0 4

 5 FA113066003 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA313066220 Federal government (2) 90.7 83.0 61.7 83.7 78.4 52.2 32.7 78.5 73.5 6

 7 FA763066000 U.S.-chartered depository institutions 62.5 89.0 -90.0 -31.2 -323.4 -10.4 5.0 22.6 207.9 7

 8 FA473066000 Credit unions 41.9 16.8 7.1 8.0 2.3 14.9 3.0 11.2 55.8 8

 9 FA403066005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA673066000 ABS issuers -11.9 -2.4 -1.2 -2.2 -1.8 -3.2 2.2 -1.3 -0.4 10

 11 FA613066005 Finance companies -6.9 3.4 13.7 -19.2 22.8 45.1 6.0 51.9 38.8 11

 Memo:

 12 FA153166100 Credit card loans (3) 37.3 38.1 -122.0 -77.7 -334.1 -40.6 -35.8 -33.0 105.7 12

 13 FA153166400 Auto loans 33.7 44.5 40.3 23.7 38.8 62.2 36.6 89.7 141.9 13

 14 FA153166220 Student loans (4) 81.6 75.8 56.2 55.0 81.5 50.9 37.5 42.7 75.5 14

 15 FA153166205 Other consumer credit (5) 20.0 26.6 13.6 25.4 -20.8 1.8 48.1 52.1 41.6 15

(1) Student loans originated under the Federal Family Education Loan Program. Assets of the households and nonprofit organizations sector (table F.101).

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
Transactions

68 Z.1, September 23, 2021

F.223 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893064105 Net issues -247.6 -411.5 572.1 930.9 191.3 875.5 290.7 1207.3 1114.2 1

 2 FA103164103 Nonfinancial corporate business -617.4 -457.8 -168.8 -385.9 -58.0 41.9 -273.3 -146.0 -273.0 2

 3 FA793164105 Domestic financial sectors 198.5 209.7 499.2 280.9 627.5 465.5 622.8 1050.2 1007.8 3

 4 FA763164103 U.S.-chartered depository institutions -5.2 1.4 1.9 -9.5 3.0 4.9 9.1 -1.4 6.4 4

 5 FA513164103 Property-casualty insurance companies -9.7 -7.9 -3.5 -14.1 2.4 -1.2 -0.9 -2.4 -5.4 5

 6 FA543164173 Life insurance companies -11.9 -17.0 -15.2 -22.5 1.8 -8.2 -31.8 -23.4 -20.5 6

 7 FA554090005 Closed-end funds 1.9 5.9 2.7 11.3 -0.7 -0.2 0.5 27.0 11.6 7

 8 FA564090005 Exchange-traded funds 311.0 322.6 500.9 371.4 616.7 454.2 561.3 1075.9 1076.4 8

 9 FA643164103 REITs 21.5 36.7 21.9 24.6 26.7 18.6 17.7 31.3 43.1 9

 10 FA403164105 Government-sponsored enterprises 4.5 -4.2 -7.0 27.6 -38.2 -10.2 -7.2 -3.5 -1.7 10

 11 FA663164103 Brokers and dealers -2.3 22.1 15.6 31.5 -21.7 0.7 51.9 4.0 1.8 11

 12 FA733164103 Holding companies -111.3 -149.8 -18.2 -139.4 37.5 6.9 22.2 -57.3 -103.9 12

 13 FA503164105 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA263164100 Rest of the world (2) 171.3 -163.4 241.8 1036.0 -378.2 368.1 -58.8 303.2 379.4 14

 15 FA893064105 Net purchases -247.6 -411.5 572.1 930.9 191.3 875.5 290.7 1207.3 1114.2 15

 16 FA153064105 Household sector -182.3 62.4 435.7 275.0 615.9 976.0 -124.3 570.1 1156.5 16

 17 FA103064103 Nonfinancial corporate business -40.7 10.2 -127.5 -103.0 -123.5 -134.0 -149.7 -127.5 -127.5 17

 18 FA313064105 Federal government 4.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 18

 19 FA213064103 State and local governments -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 19

 20 FA713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA763064105 U.S.-chartered depository institutions 2.5 0.8 3.0 4.6 1.4 2.3 3.6 4.0 3.8 21

 22 FA753064103 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA513064105 Property-casualty insurance companies 20.1 -1.8 -22.3 7.3 -72.4 -39.8 15.9 1.3 7.0 23

 24 FA543064105 Life insurance companies -44.4 1.3 1.2 6.0 -14.6 -7.7 21.0 -13.7 -48.7 24

 25 FA573064105 Private pension funds -80.0 -168.8 -140.6 -173.5 -99.5 -123.5 -165.8 -56.2 -146.2 25

 26 FA343064105 Federal government retirement funds -21.6 -5.0 -24.1 -48.8 18.9 -23.4 -43.1 17.5 12.7 26

 27 FA223064145 State and local govt. retirement funds -82.3 -28.1 22.0 123.2 -152.2 175.3 -58.4 30.8 -63.3 27

 28 FA653064100 Mutual funds -120.6 -219.4 -481.6 -361.3 -330.1 -666.5 -568.3 -589.5 -252.0 28

 29 FA553064103 Closed-end funds -0.4 2.6 1.9 7.7 0.0 0.0 -0.2 16.7 7.5 29

 30 FA563064100 Exchange-traded funds 210.4 165.9 254.3 282.0 180.8 172.9 381.5 922.8 804.7 30

 31 FA663064103 Brokers and dealers -19.9 -22.8 7.0 54.3 18.2 37.7 -82.1 154.6 -111.7 31

 32 FA503064105 Other financial business 0.0 0.0 8.8 0.0 31.9 2.6 0.6 -1.1 -29.8 32

 33 FA263064105 Rest of the world (3) 110.9 -205.4 637.8 860.9 119.8 507.1 1063.3 280.9 -95.5 33

(1) Includes shares of exchange-traded funds, closed-end funds, and real estate investment trusts. Excludes mutual fund shares shown on table L.224.

(2) Net purchases of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Net purchases of U.S. issues by foreign residents.

F.224 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA653164205 Net issues -63.4 208.0 -226.8 -1223.7 61.4 106.2 149.0 363.1 167.5 1

 2 FA653164205 Net purchases -63.4 208.0 -226.8 -1223.7 61.4 106.2 149.0 363.1 167.5 2

 3 FA153064205 Household sector 19.1 320.9 -59.5 -1036.8 229.1 309.9 259.7 539.2 412.6 3

 4 FA103064203 Nonfinancial corporate business -9.0 5.3 10.6 10.6 10.6 10.6 10.6 10.6 10.6 4

 5 FA213064203 State and local governments 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 5

 6 FA763064203 U.S.-chartered depository institutions -5.9 -2.1 -0.8 0.1 -2.9 -0.2 -0.1 0.0 0.0 6

 7 FA473064205 Credit unions 0.4 0.3 0.9 1.8 0.2 0.3 1.3 4.5 2.0 7

 8 FA513064205 Property-casualty insurance companies -1.1 0.1 0.8 1.7 1.0 5.2 -4.6 1.3 -5.8 8

 9 FA543064205 Life insurance companies -87.1 -86.7 -99.3 -153.5 -61.3 -97.7 -84.5 -112.5 -214.3 9

 10 FA573064205 Private pension funds -8.9 21.9 -113.4 -183.5 -67.5 -99.9 -102.6 -3.1 -52.2 10

 11 FA223064205 State and local govt. retirement funds -0.7 0.1 24.0 -32.7 5.8 -14.1 137.2 -165.7 -14.7 11

 12 FA263064203 Rest of the world 28.7 -53.0 8.6 167.5 -54.8 -9.0 -69.3 87.7 28.1 12

(1) Shares of open-end investment companies; excludes shares of money market funds and exchange-traded funds.
Transactions

Z.1, September 23, 2021 69

F.225 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893170005 Net change in trade payables 452.6 381.7 278.5 -95.6 -602.2 1007.1 804.4 794.0 730.1 1

 2 FA163170005 Nonprofit organizations (1) 6.7 6.9 6.7 6.7 6.7 6.7 6.7 6.8 6.8 2

 3 FA103170005 Nonfinancial corporate business 320.7 230.1 130.7 -207.3 -589.1 696.8 622.3 567.2 560.7 3

 4 FA113170005 Nonfinancial noncorporate business 5.4 42.9 -25.8 5.5 -149.2 46.8 -6.2 95.8 47.2 4

 5 FA313170005 Federal government 74.0 36.0 16.8 -36.4 -40.2 81.5 62.4 40.7 70.8 5

 6 FA213170003 State and local governments 47.3 48.6 48.4 49.1 46.8 48.2 49.5 50.9 51.9 6

 7 FA513170005 Property-casualty insurance companies 8.4 2.6 11.1 5.6 24.8 41.3 -27.4 8.7 6.8 7

 8 FA543170005 Life insurance companies 15.2 13.4 88.1 78.2 112.5 73.9 87.8 1.3 9.5 8

 9 FA663170003 Brokers and dealers -27.8 -1.0 2.8 17.4 -9.3 -4.3 7.3 4.6 -15.1 9

 10 FA263170005 Rest of the world 2.7 2.2 -0.4 -14.3 -5.3 16.2 2.0 18.0 -8.5 10

 11 FA893070005 Net change in trade receivables 534.6 645.6 234.2 -195.1 -723.0 1084.4 770.7 807.2 853.5 11

 12 FA163070005 Nonprofit organizations (1) 3.5 7.6 7.6 7.6 7.6 7.6 7.6 6.9 6.9 12

 13 FA103070005 Nonfinancial corporate business 396.3 540.5 29.7 -367.6 -954.2 836.6 603.8 642.3 736.4 13

 14 FA113070003 Nonfinancial noncorporate business 49.6 47.7 47.1 45.7 54.5 44.9 43.1 55.3 12.6 14

 15 FA313070000 Federal government 10.4 -1.9 11.3 0.8 25.1 1.8 17.7 29.4 1.3 15

 16 FA213070003 State and local governments 22.8 19.1 14.3 -20.1 -25.2 62.8 39.9 23.3 38.3 16

 17 FA513070005 Property-casualty insurance companies 17.8 6.6 18.1 33.4 47.3 48.2 -56.6 30.0 24.2 17

 18 FA543070005 Life insurance companies -0.7 6.5 22.5 19.8 28.7 18.9 22.5 0.7 9.8 18

 19 FA673070003 ABS issuers 1.4 0.6 0.2 9.5 -5.9 -11.3 8.5 -5.2 7.4 19

 20 FA263070005 Rest of the world 33.4 18.8 83.5 75.7 99.0 74.8 84.3 24.5 16.6 20

 21 FA903070005 Discrepancy -82.0 -263.9 44.2 99.5 120.9 -77.3 33.7 -13.2 -123.5 21

(1) Included in the households and nonprofit organizations sector (table F.101).

F.226 Life Insurance Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893140005 Net change in liabilities 11.9 34.4 100.7 201.7 15.3 86.4 99.4 -77.4 64.2 1

 2 FA313140003 Federal government 0.2 0.9 0.2 -0.6 -0.0 1.4 0.0 1.1 -3.4 2

 3 FA543140005 Life insurance companies 43.3 31.7 85.0 188.6 -4.5 72.0 83.9 -75.9 63.2 3

 4 FA263140005 Rest of the world -31.6 1.8 15.5 13.6 19.8 13.0 15.5 -2.7 4.4 4

 5 FA893140005 Net change in assets 11.9 34.4 100.7 201.7 15.3 86.4 99.4 -77.4 64.2 5

 6 FA153040005 Household sector 49.4 16.7 94.2 197.2 10.5 78.2 90.7 -81.3 27.6 6

 7 FA763040005 U.S.-chartered depository institutions 3.9 6.7 6.1 3.6 5.3 7.1 8.2 8.3 18.7 7

 8 FA543040005 Life insurance companies -36.2 6.7 5.6 4.9 7.2 4.7 5.6 -8.4 13.7 8

 9 FA733040005 Holding companies 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 9

 10 FA543141905 Rest of the world -9.3 0.3 -9.1 -8.0 -11.7 -7.7 -9.1 -0.0 0.1 10
Transactions

70 Z.1, September 23, 2021

F.227 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893150005 Net change in liabilities 394.9 445.8 557.6 543.0 542.7 536.4 608.3 219.4 329.3 1

 2 FA543150005 Life insurance companies (1) 44.3 8.9 88.7 143.1 -41.8 78.4 175.0 -131.2 -114.8 2

 3 FA574190005 Private pension funds (2) 11.9 108.8 72.3 57.6 115.6 64.2 51.7 14.6 75.3 3

 4 FA344090005 Federal government retirement funds (3) 85.3 75.6 104.1 87.6 151.7 103.6 73.7 98.6 103.2 4

 5 FA224190005 State and local govt. retirement funds 194.7 249.4 245.6 212.8 257.5 251.0 261.2 235.6 257.2 5

 6 FA263150005 Rest of the world 58.7 3.1 46.9 41.9 59.6 39.3 46.6 1.8 8.4 6

 7 FA893150005 Net change in assets 394.9 445.8 557.6 543.0 542.7 536.4 608.3 219.4 329.3 7

 8 FA153050005 Households (4) 283.7 437.4 479.8 472.7 444.1 471.3 531.1 215.2 310.2 8

 9 FA543050005 Life insurance companies 100.1 7.7 91.4 82.3 116.0 76.6 90.8 4.1 18.9 9

 10 FA543151905 Rest of the world 11.0 0.6 -13.6 -12.0 -17.4 -11.4 -13.6 0.0 0.2 10

 Memo:

 11 FA893131573 Individual Retirement Accounts (IRAs): (5) 291.6 248.5 151.7 -37.1 261.5 116.9 265.3 92.7 ND 11

 12 FA763131573 U.S.-chartered depository institutions 21.0 -13.7 124.2 190.6 141.9 -42.5 206.8 -167.4 ND 12

 13 FA473131573 Credit unions -0.2 3.5 2.9 3.9 3.2 3.5 0.9 1.8 ND 13

 14 FA543131503 Life insurance companies 1.6 28.0 40.0 -68.0 79.2 48.1 100.6 -4.8 ND 14

 15 FA633131573 Money market funds 25.0 49.0 77.0 220.0 36.0 56.0 -4.0 -44.0 ND 15

 16 FA653131573 Mutual funds -6.1 80.0 30.0 -320.7 148.4 57.5 234.6 196.1 ND 16

 17 FA153131575 Other self-directed accounts 250.2 101.8 -122.3 -62.9 -147.2 -5.7 -273.6 110.9 ND 17

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Asset of the household and nonprofit organizations sector (table F.101). Figures for depositories (lines 12 and 13) include Keogh accounts. Variable annuities in IRAs are included

 in the life insurance sector (line 14) and excluded from the money market fund and mutual fund sectors (lines 15 and 16).

F.228 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893178005 Net change in taxes payable by all 7.2 14.6 18.7 28.9 216.9 -211.8 40.7 -74.9 -173.3 1

 businesses

 2 FA103178005 Nonfinancial corporate business -10.6 -6.8 13.8 49.1 166.8 -193.3 32.4 -43.2 -142.0 2

 3 FA113178003 Nonfinancial noncorporate business 18.5 8.4 13.1 20.1 25.6 8.2 -1.6 18.8 2.2 3

 4 FA763178003 U.S.-chartered depository institutions 5.4 14.5 -11.2 -66.6 9.5 9.6 2.7 -67.0 -7.6 4

 5 FA513178005 Property-casualty insurance companies -0.7 -0.3 0.4 10.6 1.1 -14.5 4.6 6.6 -11.6 5

 6 FA543178075 Life insurance companies -2.9 0.4 0.9 10.1 4.9 -14.3 3.0 4.9 -10.1 6

 7 FA613178005 Finance companies -3.0 -0.4 -0.5 0.3 0.6 -2.9 0.0 1.9 -3.6 7

 8 FA663178005 Brokers and dealers 0.6 -1.4 2.2 5.3 8.5 -4.6 -0.5 3.2 -0.7 8

 9 FA893078005 Net change in business taxes receivable 34.7 -10.7 -5.5 -50.1 323.2 -315.3 20.2 -39.2 -270.4 9

 10 FA313078000 Federal government 15.0 -20.3 -18.6 -67.5 300.2 -326.0 18.9 -54.7 -269.6 10

 11 FA213078005 State and local governments 19.7 9.6 13.1 17.5 23.0 10.7 1.2 15.5 -0.8 11

 12 FA903078005 Discrepancy -27.4 25.2 24.2 79.0 -106.3 103.6 20.5 -35.7 97.0 12

F.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA152090205 Total household investment -22.4 18.8 50.2 26.8 23.9 31.7 118.4 76.0 59.2 1

 2 FA112090205 Nonfinancial noncorporate business -31.9 13.5 43.3 21.5 9.3 37.2 105.4 62.3 42.4 2

 3 FA662090003 Brokers and dealers 9.5 5.2 6.9 5.3 14.6 -5.5 13.0 13.8 16.8 3
Transactions

Z.1, September 23, 2021 71

F.230 Direct Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA263192005 U.S. direct investment abroad (1, 2) -128.3 58.0 264.8 37.2 533.0 196.2 292.8 321.5 473.9 1

 Equity:

 2 FA263192101 Liab.: Rest of the world (1) -218.6 156.7 330.9 186.0 470.9 319.0 347.7 307.7 496.3 2

 3 FA263192113 Equity (other than reinvested earnings) 75.3 17.7 134.8 135.0 360.9 40.4 2.8 56.1 123.0 3

 4 FA263192125 Reinvested earnings -293.9 139.0 196.1 50.9 109.9 278.6 344.8 251.6 373.3 4

 5 FA263192193 Of which: Current-cost adjustment 29.1 29.4 29.9 29.7 29.8 30.0 30.0 30.3 30.5 5

 6 FA103092105 Asset: Nonfinancial corporate business -209.9 105.1 282.2 68.1 449.9 269.6 341.4 240.5 439.9 6

 7 FA763092100 U.S.-chartered depository institutions -2.6 11.0 4.8 9.5 9.1 6.0 -5.3 -2.3 21.6 7

 8 FA513092103 Property-casualty insurance companies 7.2 5.8 18.4 20.5 29.3 23.7 -0.1 21.9 7.0 8

 9 FA543092173 Life insurance companies -12.3 -1.6 -0.7 4.9 -3.8 -4.5 0.4 -0.7 -2.9 9

 10 FA613092103 Finance companies 3.4 14.7 13.1 55.8 -22.3 16.5 2.6 65.8 11.5 10

 11 FA663092103 Brokers and dealers -4.5 21.7 13.1 27.2 8.8 7.6 8.6 -17.5 19.3 11

 Intercompany debt:

 12 FA263192305 Liab.: Rest of the world (1, 2) 90.3 -98.7 -66.1 -148.8 62.1 -122.8 -54.8 13.8 -22.4 12

 13 FA263192313 U.S. parents’ claims 73.0 -41.9 -54.5 -67.9 -238.8 104.5 -15.9 -9.5 65.5 13

 14 FA263092313 Less: U.S. parents’ liabilities -17.3 56.9 11.6 80.9 -300.9 227.3 38.9 -23.3 87.9 14

 15 FA103092305 Asset: Nonfinancial corporate business 76.0 -85.1 -55.8 -126.4 53.4 -104.7 -45.4 11.3 -18.2 15

 16 FA763092305 U.S.-chartered depository institutions 3.7 -3.8 -2.7 -6.1 1.7 -2.9 -3.4 0.5 -1.4 16

 17 FA513092305 Property-casualty insurance companies 2.3 -1.8 -1.6 -3.5 1.9 -3.1 -1.8 0.5 -0.6 17

 18 FA543092375 Life insurance companies 0.7 -0.8 -0.8 -1.6 0.6 -1.5 -0.5 0.1 -0.3 18

 19 FA613092305 Finance companies 4.6 -4.2 -2.9 -5.8 2.1 -5.5 -2.3 1.1 -1.0 19

 20 FA663092305 Brokers and dealers 3.0 -3.0 -2.4 -5.5 2.3 -5.0 -1.5 0.4 -0.9 20

 21 FA263092001 Foreign direct investment in U.S. (1) 216.0 238.0 164.4 100.8 90.3 153.2 313.3 295.9 295.2 21

 Equity:

 22 FA103192105 Liab.: Nonfinancial corporate business 235.5 216.1 179.9 123.7 127.3 154.7 314.0 303.6 342.3 22

 23 FA115114103 Nonfinancial noncorporate business 5.0 -0.7 1.4 0.1 2.7 0.5 2.5 -0.4 7.5 23

 24 FA753192103 Foreign banking offices in U.S. 12.8 3.0 7.6 1.7 2.1 11.0 15.5 -0.7 -29.9 24

 25 FA513192103 Property-casualty insurance companies 9.4 7.5 -4.3 -6.1 -12.1 -0.4 1.3 -2.3 7.7 25

 26 FA543192173 Life insurance companies 9.7 -5.1 3.5 3.7 2.6 -6.2 14.0 -12.7 10.4 26

 27 FA613192103 Finance companies 10.2 14.8 8.2 6.9 5.1 10.9 10.0 10.1 6.4 27

 28 FA663192103 Brokers and dealers -15.6 49.3 23.6 -114.7 99.1 35.4 74.6 8.6 54.7 28

 29 FA733192103 Holding companies 51.6 -22.5 -21.7 158.1 -109.9 -34.7 -100.2 -17.4 -59.4 29

 30 FA503192103 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA263092101 Asset: Rest of the world (1) 318.5 262.5 198.3 173.4 116.8 171.2 331.7 288.8 339.7 31

 32 FA263092113 Equity (other than reinvested earnings) 200.1 137.8 115.8 114.4 90.4 53.2 205.2 123.0 144.5 32

 33 FA263092125 Reinvested earnings 118.4 124.7 82.5 59.0 26.5 118.0 126.5 165.8 195.2 33

 34 FA263092193 Of which: Current-cost adjustment 12.8 12.9 13.6 13.4 13.5 13.6 13.7 14.3 14.5 34

 Intercompany debt:

 35 FA103192305 Liab.: Nonfinancial corporate business -72.9 -5.3 -41.7 -59.8 -31.8 -16.1 -59.3 -8.6 -52.1 35

 36 FA115114305 Nonfinancial noncorporate business 4.7 -0.2 -0.5 -1.1 -0.3 -0.6 -0.2 -0.1 -0.6 36

 37 FA753192305 Foreign banking offices in U.S. -4.3 -2.2 -1.6 -3.7 -2.0 -1.1 0.6 -0.4 -6.3 37

 38 FA513192305 Property-casualty insurance companies -3.0 -0.4 -0.8 -2.7 -2.6 -1.2 3.2 -0.4 -1.2 38

 39 FA543192375 Life insurance companies -4.2 0.4 0.8 -1.4 -0.8 -1.9 7.4 -1.6 -0.8 39

 40 FA613192305 Finance companies -0.4 0.3 -0.1 -0.6 -0.2 0.4 -0.0 1.0 -0.6 40

 41 FA663192305 Brokers and dealers -4.8 3.4 1.3 -8.3 6.9 1.3 5.2 0.5 13.4 41

 42 FA733192305 Holding companies -17.7 -20.6 8.8 4.9 4.2 1.3 24.7 16.9 3.8 42

 43 FA503192305 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 FA263092303 Asset: Rest of the world (1) -102.5 -24.5 -33.9 -72.6 -26.6 -18.1 -18.4 7.2 -44.5 44

 45 FA263092323 U.S. affiliates’ liabilities -86.9 -17.1 1.4 -75.4 -3.3 47.8 36.7 16.8 -47.7 45

 46 FA263192323 Less: U.S. affiliates’ claims 15.6 7.4 35.3 -2.8 23.3 65.9 55.0 9.6 -3.2 46

(1) Direct investment is presented on a directional basis and reported at market value.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
Transactions

72 Z.1, September 23, 2021

F.231 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893190005 Net change in liabilities 871.5 2138.9 1564.2 2703.0 780.3 1280.2 1493.5 1332.3 1151.7 1

 2 FA543077073 Household sector 1.9 1.5 0.1 10.2 -3.8 -1.7 -4.4 8.5 -3.3 2

 3 FA103190005 Nonfinancial corporate business 643.6 1504.9 283.0 232.2 -22.8 402.8 519.6 406.3 153.5 3

 4 FA113193003 Nonfinancial noncorporate business 93.6 78.7 62.5 111.8 98.7 74.1 -34.5 -10.1 95.8 4

 5 FA313190005 Federal government -34.9 -14.6 349.5 -47.4 564.9 913.8 -33.4 -23.9 267.0 5

 6 FA223073045 State and local governments 223.9 247.2 251.6 202.5 252.9 260.3 290.7 255.7 272.1 6

 7 FA713190005 Monetary authority 2.0 -0.1 4.0 -106.4 -145.0 146.2 121.0 -110.6 -170.6 7

 8 FA763190005 U.S.-chartered depository institutions -22.2 182.4 -52.1 -93.0 -212.7 -160.2 257.6 211.6 120.3 8

 9 FA753190005 Foreign banking offices in U.S. 27.0 -38.9 -11.2 162.5 -73.0 -69.8 -64.3 124.7 -7.5 9

 10 FA743193005 Banks in U.S.-affiliated areas -0.9 -0.3 0.2 0.4 1.8 2.3 -3.6 -2.2 -1.2 10

 11 FA473193005 Credit unions -0.0 1.2 3.8 30.7 6.7 -19.9 -2.2 28.5 -0.8 11

 12 FA513190005 Property-casualty insurance companies 41.8 80.4 76.2 1.6 146.3 156.8 0.0 216.1 169.8 12

 13 FA543190005 Life insurance companies -3.1 81.6 135.1 456.6 7.8 -28.5 104.3 49.7 107.5 13

 14 FA403190005 Government-sponsored enterprises 1.4 2.4 5.9 21.4 -72.5 51.7 23.2 -42.2 -49.2 14

 15 FA613190005 Finance companies -65.3 4.9 17.0 69.4 23.3 -6.8 -18.1 69.9 -39.0 15

 16 FA643193005 REITs 16.1 -7.2 12.1 -4.9 10.0 26.1 17.1 17.4 2.8 16

 17 FA663190005 Brokers and dealers -17.0 35.8 41.4 -137.1 188.2 106.8 7.7 74.8 65.8 17

 18 FA733193005 Holding companies -86.7 -7.2 40.2 -277.4 113.5 103.5 221.2 -4.3 58.3 18

 19 FA503190005 Other financial business 31.5 -19.6 358.1 691.5 350.0 206.7 183.9 33.5 94.3 19

 20 FA263190005 Rest of the world 18.7 5.9 -13.1 1378.2 -453.9 -884.2 -92.4 29.0 16.1 20

 21 FA893090005 Net change in assets 929.6 2535.4 1686.5 3864.1 169.5 1590.0 1122.5 1307.6 1777.6 21

 22 FA153090005 Household sector 52.1 41.8 68.7 18.0 87.9 151.8 17.2 98.4 101.4 22

 23 FA103090005 Nonfinancial corporate business 556.6 1469.3 258.6 184.1 -684.6 1420.7 114.3 959.4 51.0 23

 24 FA113090005 Nonfinancial noncorporate business 192.5 195.2 255.4 128.0 373.5 452.0 68.1 38.9 112.3 24

 25 FA213093003 State and local governments 18.3 -71.2 14.1 -56.2 48.3 50.9 13.5 14.1 56.0 25

 26 FA313090005 Federal government 15.0 7.0 122.0 11.9 460.4 8.4 7.3 -235.7 -38.1 26

 27 FA713090005 Monetary authority -10.8 -2.2 25.0 1427.3 -498.7 -811.4 -17.0 -66.9 -5.2 27

 28 FA763090005 U.S.-chartered depository institutions -58.6 23.4 147.8 357.7 32.2 397.4 -196.3 360.0 134.5 28

 29 FA753093005 Foreign banking offices in U.S. -20.4 7.5 -6.3 88.8 -75.8 -21.2 -16.9 -20.3 83.4 29

 30 FA743093005 Banks in U.S.-affiliated areas 1.4 -11.5 -5.1 -15.5 -10.1 4.8 0.5 30.2 1.7 30

 31 FA473090005 Credit unions 7.4 5.7 32.6 29.2 71.6 -12.5 42.1 -58.0 40.3 31

 32 FA513090005 Property-casualty insurance companies 24.2 16.2 29.3 -68.0 -53.4 43.5 194.9 -99.6 49.8 32

 33 FA543090005 Life insurance companies 50.7 27.1 113.6 464.6 -89.6 -51.6 131.2 50.6 110.7 33

 34 FA573090005 Private pension funds 32.4 182.5 190.7 210.3 194.5 176.7 181.4 39.7 146.3 34

 35 FA343073045 Federal government retirement funds -50.4 -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 35

 36 FA223090005 State and local govt. retirement funds 220.1 401.3 140.3 111.9 471.1 -9.2 -12.6 143.9 194.9 36

 37 FA633093005 Money market funds 1.4 2.4 -0.0 6.9 -204.1 188.0 9.1 -71.6 -153.6 37

 38 FA653093005 Mutual funds -112.2 83.4 -61.3 287.8 -32.0 -422.7 -78.1 -326.0 57.7 38

 39 FA563093003 Exchange-traded funds 1.7 8.4 43.7 46.2 94.9 55.9 -22.2 -19.6 20.4 39

 40 FA403093005 Government-sponsored enterprises -15.7 32.1 62.3 91.3 79.5 65.8 12.8 38.3 -98.5 40

 41 FA673090543 ABS issuers 3.1 6.2 20.9 23.4 17.7 25.7 16.8 42.8 59.6 41

 42 FA613090005 Finance companies 26.1 -2.9 11.6 60.6 20.5 -24.1 -10.5 -7.0 30.6 42

 43 FA643090005 REITs 21.0 2.6 11.2 55.9 -33.1 -14.3 36.4 39.1 21.0 43

 44 FA663090005 Brokers and dealers -60.9 59.4 153.3 407.2 30.2 -97.5 273.2 107.5 502.4 44

 45 FA733090005 Holding companies -18.0 86.2 107.2 29.4 -16.1 54.7 360.8 142.2 514.5 45

 46 FA503094505 Other financial business 43.4 -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 46

 47 FA263076005 Rest of the world 9.1 2.0 -2.1 -1.1 -4.8 -7.9 5.2 5.7 4.5 47

 48 FA903090005 Discrepancy -58.1 -396.5 -122.3 -1161.1 610.8 -309.8 371.0 24.7 -625.8 48
Transactions

Z.1, September 23, 2021 73

F.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 Federal government equity in IBRD, etc.:

 1 FA313092803 Liab.: Rest of the world 1.3 1.4 1.8 5.2 0.0 0.9 1.3 4.7 0.0 1

 2 FA313092803 Asset: Federal government 1.3 1.4 1.8 5.2 0.0 0.9 1.3 4.7 0.0 2

 Federal Reserve Bank stock:

 3 FA713164003 Liab.: Monetary authority 0.9 -0.6 0.7 1.1 0.2 1.5 -0.1 0.4 1.4 3

 4 FA713164003 Asset: U.S.-chartered depository institutions 0.9 -0.6 0.7 1.1 0.2 1.5 -0.1 0.4 1.4 4

 Equity in govt.-sponsored enterprises:

 5 FA403192405 Liab.: Government-sponsored enterprises 1.1 -3.7 -6.8 25.9 -35.4 -9.0 -8.7 -2.3 -1.3 5

 6 FA103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.1 0.1 0.1 0.3 -0.3 -0.0 0.4 0.5 -0.1 6

 7 FA113092405 Nonfinancial noncorporate (FCS) 0.2 0.3 0.2 -0.5 0.7 0.7 -0.0 0.1 2.2 7

 8 FA313092403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA763092405 U.S.-chartered depository institutions (FHLB) 0.6 -4.5 -9.6 22.1 -37.9 -12.2 -10.5 -5.6 -4.4 9

 10 FA473092403 Credit unions (FHLB) -0.1 -0.0 -0.1 1.4 -1.5 0.2 -0.3 -0.2 0.6 10

 11 FA513092403 Property-casualty insurance companies (FHLB) 0.0 0.0 0.5 0.5 0.3 1.5 -0.2 -0.1 -0.2 11

 12 FA543092473 Life insurance companies (FHLB) 0.5 0.6 2.5 3.2 3.9 1.2 1.9 3.1 0.6 12

 13 FA613092403 Finance companies -0.2 0.0 -0.0 -0.0 -0.1 0.0 -0.1 -0.1 0.0 13

 14 FA643092473 Real estate investment trusts (FHLB) -0.0 -0.0 -0.5 -1.0 -0.6 -0.3 -0.0 0.0 0.0 14

 Holding company net transactions with affiliates:

 15 FA763194735 Liab.: U.S.-chartered depository institutions 13.5 93.6 72.7 -145.8 112.1 110.7 213.6 56.7 265.2 15

 16 FA513194733 Property-casualty insurance companies 1.2 0.8 -3.9 -0.6 -19.3 4.4 -0.2 2.9 3.1 16

 17 FA543194733 Life insurance companies -11.0 1.1 -5.9 -23.7 0.0 0.0 0.0 0.0 0.0 17

 18 FA613194733 Finance companies -13.3 -4.8 -2.0 -3.4 -1.0 0.8 -4.2 -2.3 -3.0 18

 19 FA663194735 Brokers and dealers -23.2 21.5 81.4 264.2 -189.6 23.3 227.6 7.7 230.5 19

 20 FA263194735 Rest of the world 24.9 -1.2 -31.6 -46.3 69.1 -65.8 -83.5 70.2 11.1 20

 21 FA733094705 Asset: Holding companies -8.0 111.0 110.6 44.4 -28.7 73.4 353.3 135.3 506.9 21

 NFC investment in finance company affiliates:

 22 FA103094105 Liab.: Finance companies 2.5 -0.6 -3.0 -5.0 -14.0 -15.9 22.8 -0.4 -38.4 22

 23 FA103094105 Asset: Nonfinancial corporate business 2.5 -0.6 -3.0 -5.0 -14.0 -15.9 22.8 -0.4 -38.4 23

 Other financial businesses’ investment in affiliates:

 24 FA753194503 Liab.: Foreign banking offices in U.S. 43.4 -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 24

 25 FA663194505 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FA503094505 Asset: Other financial business 43.4 -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 26

 Equity investment under Public-Private Inv. Program:

 27 FA503194305 Liab.: Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FA153094305 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA313094303 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 Federal gov’t investment in Federal Reserve facilities:

 30 FA313094213 Liab.: Monetary authority 0.0 0.0 1.5 0.0 6.0 0.0 0.0 0.0 -6.0 30

 31 FA503194205 Other financial business 0.0 0.0 112.5 0.0 450.0 0.0 0.0 -248.9 -40.0 31

 32 FA313094205 Asset: Federal government 0.0 0.0 114.0 0.0 456.0 0.0 0.0 -248.9 -46.0 32

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
Transactions

74 Z.1, September 23, 2021

F.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 Nonofficial foreign currencies:

 1 FA263191103 Liab.: Rest of the world -7.9 -0.5 14.2 1415.8 -523.2 -812.0 -24.0 -61.5 -7.8 1

 2 FA313091105 Asset: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA713091103 Monetary authority (1) -7.9 -0.5 14.2 1415.8 -523.2 -812.0 -24.0 -61.5 -7.8 3

 Postal Savings System deposits:

 4 FA313131003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA313131003 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 FA403197033 Liab.: Government-sponsored enterprises -0.2 2.8 4.9 18.6 3.0 -3.5 1.7 9.2 -8.3 6

 7 FA403197033 Asset: U.S.-chartered depository institutions -0.2 2.8 4.9 18.6 3.0 -3.5 1.7 9.2 -8.3 7

 Paycheck Protection Program subsidies payable:

 8 FA313172003 Liab.: Federal government 0.0 0.0 364.7 0.0 634.1 900.7 -75.9 51.0 383.0 8

 9 FA163072003 Asset: Nonprofit organizations 0.0 0.0 35.5 0.0 57.2 81.2 3.6 2.1 20.6 9

 10 FA103072005 Nonfinancial corporate business 0.0 0.0 210.0 0.0 369.9 525.5 -55.3 28.5 197.3 10

 11 FA113072003 Nonfinancial noncorporate business 0.0 0.0 117.5 0.0 204.1 289.9 -23.8 20.6 164.9 11

 12 FA613072003 Finance companies 0.0 0.0 1.6 0.0 2.9 4.1 -0.4 -0.3 0.2 12

 Funding agreements backing securities:

 13 FA673090543 Liab.: Life insurance companies (2) 3.1 6.2 20.9 23.4 17.7 25.7 16.8 42.8 59.6 13

 14 FA673090543 Asset: ABS issuers 3.1 6.2 20.9 23.4 17.7 25.7 16.8 42.8 59.6 14

 Deferred and unpaid life insurance premiums:

 15 FA543077073 Liab.: Household sector 1.9 1.5 0.1 10.2 -3.8 -1.7 -4.4 8.5 -3.3 15

 16 FA543077073 Asset: Life insurance companies 1.9 1.5 0.1 10.2 -3.8 -1.7 -4.4 8.5 -3.3 16

 Life insurance company reserves:

 17 FA543195005 Liab.: Life insurance companies 26.3 17.9 19.2 10.7 24.0 27.2 15.0 11.1 4.4 17

 18 FA263195105 Rest of the world -1.5 0.8 5.8 5.1 7.4 4.9 5.8 -0.1 0.5 18

 19 FA153095105 Asset: Household sector 20.3 15.4 16.2 8.0 20.2 24.7 12.0 11.4 3.3 19

 20 FA543095105 Life insurance companies 4.5 3.3 8.8 7.7 11.3 7.4 8.8 -0.4 1.7 20

 Policy payables:

 21 FA513176005 Liab.: Property-casualty insurance companies 44.1 44.0 55.2 27.8 77.1 121.5 -5.5 134.0 105.2 21

 22 FA263176005 Rest of the world 1.8 5.5 -3.3 -1.6 -7.3 -12.2 8.1 15.7 12.3 22

 23 FA153076005 Asset: Household sector 17.9 12.0 8.8 -2.3 13.2 30.8 -6.7 70.4 54.0 23

 24 FA103076005 Nonfinancial corporate business 11.4 15.0 25.3 14.4 33.5 49.9 3.3 37.4 29.5 24

 25 FA113076005 Nonfinancial noncorporate business -1.3 10.0 16.2 13.2 19.2 22.3 10.1 5.3 5.3 25

 26 FA513076005 Property-casualty insurance companies 8.8 10.5 3.8 1.9 8.6 14.3 -9.5 31.0 24.4 26

 27 FA263076005 Rest of the world 9.1 2.0 -2.1 -1.1 -4.8 -7.9 5.2 5.7 4.5 27

 Unallocated insurance company contracts:

 28 FA593095005 Liab.: Life insurance companies -4.7 17.3 10.2 -6.7 20.7 12.2 14.4 -16.4 22.8 28

 29 FA573095005 Asset: Private pension funds 0.8 2.9 -1.3 -4.0 8.4 -7.4 -2.2 -18.9 1.5 29

 30 FA223095505 State and local government retirement funds -5.5 14.5 11.5 -2.7 12.3 19.7 16.6 2.5 21.3 30

 Pension fund contributions payable:

 31 FA573074005 Liab.: Nonfinancial corporate business -34.6 -4.6 -10.0 -2.7 -11.3 -11.6 -14.2 -9.0 -14.6 31

 32 FA573074005 Asset: Private pension funds -34.6 -4.6 -10.0 -2.7 -11.3 -11.6 -14.2 -9.0 -14.6 32

 Securities borrowed (net):

 33 FA663097005 Liab.: Other financial business -18.9 1.7 68.1 234.1 12.8 -123.9 149.5 34.6 364.3 33

 34 FA663097005 Asset: Brokers and dealers -18.9 1.7 68.1 234.1 12.8 -123.9 149.5 34.6 364.3 34

 Retiree health care funds:

 35 FA313195105 Liab.: Federal government (3) 13.9 14.4 8.2 12.3 -2.7 15.1 8.3 14.5 23.6 35

 36 FA313195105 Asset: Household sector 13.9 14.4 8.2 12.3 -2.7 15.1 8.3 14.5 23.6 36

 Claims of pension fund on sponsor:

 37 FA573073005 Liab.: Nonfinancial corporate business 75.6 74.4 46.1 22.9 50.6 50.0 60.8 13.7 44.8 37

 38 FA343073045 Federal government -50.4 -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 38

 39 FA223073045 State and local governments 223.9 247.2 251.6 202.5 252.9 260.3 290.7 255.7 272.1 39

 40 FA573073005 Asset: Private pension funds 75.6 74.4 46.1 22.9 50.6 50.0 60.8 13.7 44.8 40

 41 FA343073045 Federal government retirement funds -50.4 -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 41

 42 FA223073045 State and local govt. retirement funds 223.9 247.2 251.6 202.5 252.9 260.3 290.7 255.7 272.1 42

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables F.133 and F.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
Transactions

Z.1, September 23, 2021 75

F.234 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893193005 Net change in liabilities 557.8 1639.2 538.1 694.7 -39.2 810.2 686.6 838.1 -309.6 1

 2 FA103193005 Nonfinancial corporate business 602.6 1435.1 246.9 212.1 -62.0 364.4 473.0 401.5 123.2 2

 3 FA113193003 Nonfinancial noncorporate business 93.6 78.7 62.5 111.8 98.7 74.1 -34.5 -10.1 95.8 3

 4 FA313193005 Federal government 1.6 3.9 -3.8 -12.7 0.4 -9.8 6.8 -21.6 10.6 4

 5 FA713193005 Monetary authority 1.1 0.5 1.8 -107.4 -151.2 144.7 121.1 -111.0 -166.0 5

 6 FA763193005 U.S.-chartered depository institutions -35.7 88.7 -124.7 52.8 -324.7 -270.9 44.0 154.8 -144.9 6

 7 FA753193005 Foreign banking offices in U.S. -16.4 -35.4 16.4 151.1 -29.3 -28.1 -28.1 -44.5 62.4 7

 8 FA743193005 Banks in U.S.-affiliated areas -0.9 -0.3 0.2 0.4 1.8 2.3 -3.6 -2.2 -1.2 8

 9 FA473193005 Credit unions -0.0 1.2 3.8 30.7 6.7 -19.9 -2.2 28.5 -0.8 9

 10 FA513193005 Property-casualty insurance companies -3.4 35.5 24.9 -25.6 88.4 30.9 5.8 79.2 61.4 10

 11 FA543193005 Life insurance companies -16.8 39.0 90.7 452.9 -54.5 -93.6 58.0 12.2 20.6 11

 12 FA403193005 Government-sponsored enterprises 0.6 3.2 7.8 -23.2 -40.1 64.1 30.3 -49.1 -39.6 12

 13 FA613193005 Finance companies -54.4 10.4 21.9 77.8 38.3 8.4 -36.7 72.5 2.4 13

 14 FA643193005 REITs 16.1 -7.2 12.1 -4.9 10.0 26.1 17.1 17.4 2.8 14

 15 FA663193005 Brokers and dealers 6.2 14.3 -40.0 -401.2 377.8 83.5 -220.0 67.1 -164.6 15

 16 FA733193005 Holding companies -86.7 -7.2 40.2 -277.4 113.5 103.5 221.2 -4.3 58.3 16

 17 FA503193005 Other financial business 50.4 -21.3 177.4 457.4 -112.8 330.6 34.4 247.7 -230.0 17

 18 FA893093005 Net change in assets 615.9 2035.8 660.4 1855.8 -650.0 1120.1 315.6 813.4 316.2 18

 19 FA103093005 Nonfinancial corporate business 542.6 1454.9 26.2 174.4 -1073.7 861.3 143.1 893.3 -137.3 19

 20 FA113093005 Nonfinancial noncorporate business 193.6 185.0 121.5 115.4 149.5 139.1 81.9 12.9 -60.0 20

 21 FA313093003 Federal government 13.7 5.6 6.1 6.7 4.4 7.6 6.0 8.5 7.9 21

 22 FA213093003 State and local governments 18.3 -71.2 14.1 -56.2 48.3 50.9 13.5 14.1 56.0 22

 23 FA713093005 Monetary authority -3.0 -1.7 10.9 11.5 24.4 0.5 7.0 -5.4 2.5 23

 24 FA763093005 U.S.-chartered depository institutions -59.9 25.7 151.8 316.0 66.8 411.6 -187.4 356.0 145.8 24

 25 FA753093005 Foreign banking offices in U.S. -20.4 7.5 -6.3 88.8 -75.8 -21.2 -16.9 -20.3 83.4 25

 26 FA743093005 Banks in U.S.-affiliated areas 1.4 -11.5 -5.1 -15.5 -10.1 4.8 0.5 30.2 1.7 26

 27 FA473093005 Credit unions 7.6 5.7 32.7 27.8 73.1 -12.6 42.4 -57.8 39.7 27

 28 FA513093005 Property-casualty insurance companies 15.5 5.7 24.9 -70.4 -62.3 27.7 204.5 -130.5 25.6 28

 29 FA543093005 Life insurance companies 43.8 21.7 102.2 443.4 -100.9 -58.5 124.8 39.4 111.7 29

 30 FA573093005 Private pension funds -9.5 109.8 155.9 194.2 146.8 145.7 137.0 53.9 114.6 30

 31 FA223093005 State and local govt. retirement funds 1.8 139.6 -122.8 -87.9 206.0 -289.2 -319.9 -114.4 -98.5 31

 32 FA633093005 Money market funds 1.4 2.4 -0.0 6.9 -204.1 188.0 9.1 -71.6 -153.6 32

 33 FA653093005 Mutual funds -112.2 83.4 -61.3 287.8 -32.0 -422.7 -78.1 -326.0 57.7 33

 34 FA563093003 Exchange-traded funds 1.7 8.4 43.7 46.2 94.9 55.9 -22.2 -19.6 20.4 34

 35 FA403093005 Government-sponsored enterprises -15.7 32.1 62.3 91.3 79.5 65.8 12.8 38.3 -98.5 35

 36 FA613093005 Finance companies 26.2 -2.9 10.0 60.6 17.7 -28.2 -10.0 -6.5 30.4 36

 37 FA643093005 REITs 21.0 2.6 11.7 56.9 -32.5 -13.9 36.4 39.1 21.0 37

 38 FA663093005 Brokers and dealers -42.0 57.6 85.1 173.2 17.4 26.3 123.7 72.9 138.1 38

 39 FA733093005 Holding companies -10.0 -24.8 -3.4 -15.1 12.6 -18.7 7.5 6.9 7.6 39

 40 FA903090005 Discrepancy -58.1 -396.5 -122.3 -1161.1 610.8 -309.8 371.0 24.7 -625.8 40
Transactions

76 Z.1, September 23, 2021

F.7 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA897005005 All sectors -134.7 -867.8 259.2 -281.4 561.5 -227.8 984.7 1147.7 -36.6 1

 2 FA157005005 Household sector -167.9 -634.1 -51.7 -1200.7 -923.3 1764.9 152.4 1061.7 -203.6 2

 3 FA107005005 Nonfinancial corporate business 64.3 -478.3 142.1 -743.5 830.0 -537.2 1019.2 379.2 -36.6 3

 4 FA317005005 Federal government -24.4 -32.3 33.3 677.2 927.3 -1409.4 -62.0 154.5 445.2 4

 5 FA217005005 State and local governments -99.4 40.2 14.8 -27.7 89.6 82.5 -85.3 26.5 89.2 5

 6 FA797005005 Domestic financial sectors -113.1 46.8 13.9 240.6 -20.0 -306.8 141.6 -737.2 -178.4 6

 7 FA717005005 Monetary authority 5.0 8.6 2.0 8.3 -0.3 -2.7 2.6 -4.5 -3.4 7

 8 FA767005005 U.S.-chartered depository institutions 82.4 -50.4 -160.2 268.4 -357.9 -439.1 -112.3 -417.5 334.2 8

 9 FA757005005 Foreign banking officed in U.S. 54.7 13.5 77.2 -9.4 263.0 -57.8 113.0 79.1 -370.7 9

 10 FA747005005 Banks in U.S.-affiliated areas -0.8 2.0 2.3 6.0 1.9 2.6 -1.4 -7.3 4.2 10

 11 FA477005005 Credit unions -0.5 -1.0 -9.1 10.3 -18.3 -16.8 -11.4 -17.0 6.2 11

 12 FA517005005 Property-casualty insurance companies -11.9 62.2 23.6 -1.2 111.0 105.4 -120.8 173.2 41.1 12

 13 FA547005005 Life insurance companies -29.8 -1.4 10.2 -130.0 12.9 9.9 147.9 -142.0 -78.3 13

 14 FA657005005 Mutual funds -54.9 131.9 59.2 24.5 75.9 77.5 59.0 60.0 70.0 14

 15 FA407005005 Government-sponsored enterprises -20.5 8.2 45.2 38.6 -51.4 133.6 59.9 -234.5 -51.9 15

 16 FA677005005 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA617005005 Finance companies -21.6 23.3 48.9 54.5 81.1 5.1 55.0 -10.2 67.5 17

 18 FA647005005 REITs -38.1 6.2 -13.5 89.7 -59.6 -70.0 -14.2 -58.6 -27.8 18

 19 FA667005005 Brokers and dealers -17.4 14.2 -32.8 -138.9 -7.4 -27.4 42.6 -82.9 -5.0 19

 20 FA737005005 Holding companies -59.6 -170.6 -39.0 19.9 -70.8 -27.0 -78.2 -75.1 -164.5 20

 21 FA267005005 Rest of the world 205.7 189.8 106.8 772.6 -342.2 178.1 -181.2 263.0 -152.4 21

F.8 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA907005005 All types -134.7 -867.8 259.2 -281.4 561.4 -227.8 984.7 1147.7 -36.6 1

 2 FA903012005 Treasury currency -0.6 -0.8 -0.4 -0.4 -0.3 -0.6 -0.3 -0.3 -0.7 2

 3 FA903091005 Foreign deposits 175.9 -9.3 88.3 753.6 -628.8 177.7 50.8 121.8 -117.9 3

 4 FA904010005 Net interbank transactions -14.8 -10.1 10.4 271.6 -307.7 82.0 -4.0 452.1 -483.4 4

 5 FA902050005 Security repurchase agreements -247.1 -276.8 49.8 -509.8 636.0 129.4 -56.5 173.0 868.3 5

 6 FA903020005 Mail floats -0.6 -0.0 -0.5 -83.1 99.1 -97.7 79.7 -78.9 105.2 6

 7 FA903023005 Federal government -0.5 0.5 -0.7 -83.3 98.3 -96.3 78.6 -80.1 105.7 7

 8 FA903028003 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA903029200 Private domestic -0.2 -0.5 0.2 0.2 0.8 -1.3 1.1 1.2 -0.5 9

 10 FA903070005 Trade credit -82.0 -263.9 44.2 99.5 120.9 -77.3 33.7 -13.2 -123.5 10

 11 FA903078005 Taxes payable -27.4 25.2 24.2 79.0 -106.3 103.6 20.5 -35.7 97.0 11

 12 FA903090005 Miscellaneous -58.1 -396.5 -122.3 -1161.1 610.8 -309.8 371.0 24.7 -625.8 12

 13 FA906000105 Nonfinancial 120.1 64.5 165.5 269.3 137.9 -235.1 489.8 504.3 244.1 13

 Nonfinancial components (sign reversed):

 14 FA087005005 Statistical discrepancy (NIPA) -125.5 -69.7 -170.6 -274.5 -142.8 230.0 -495.0 -509.7 -249.5 14

 15 FA156600075 Contr. for govt. soc. insur., U.S. affiliated areas 5.4 5.2 5.1 5.2 4.9 5.0 5.2 5.3 5.4 15
L

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Z.1, September 23, 2021 77

L.100 Domestic Nonfinancial Sectors (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL384090005 Total financial assets 113270.1 128366.3 143996.5 122028.2 131811.8 136354.3 143996.5 148158.9 153329.2 1

 2 FL313011005 U.S. official reserve assets 93.9 97.8 111.7 96.4 102.2 106.5 111.7 107.0 108.1 2

 3 FL383091005 Foreign deposits 148.1 171.8 191.4 161.5 189.1 207.5 191.4 192.3 226.2 3

 4 FL383020005 Checkable deposits and currency 3254.7 3397.5 7288.9 3933.1 5943.8 6238.4 7288.9 7119.0 7266.3 4

 5 FL383030005 Time and savings deposits 10936.2 11567.9 12259.0 12030.5 12647.2 12754.2 12259.0 12768.3 12601.2 5

 6 FL383034005 Money market fund shares 2389.4 2906.0 3380.0 3462.7 3682.6 3467.2 3380.0 3513.0 3539.2 6

 7 FL382051005 Security repurchase agreements 179.5 176.9 222.6 188.8 206.6 209.1 222.6 213.0 234.4 7

 8 FL384022005 Debt securities 6288.9 6786.1 6878.0 6768.8 6673.7 6462.8 6878.0 6260.2 6340.0 8

 9 FL383069105 Open market paper 240.3 295.1 334.9 304.3 295.1 315.7 334.9 322.2 364.4 9

 10 FL383061105 Treasury securities 2497.0 2706.0 3014.8 2454.9 2547.6 2629.7 3014.8 2758.9 2820.8 10

 11 FL383061705 Agency- and GSE-backed securities 1124.4 1246.0 806.4 1286.5 984.4 886.6 806.4 665.6 694.2 11

 12 FL383062005 Municipal securities 1923.2 1951.7 1973.5 1928.9 1953.4 1960.8 1973.5 1934.6 1930.6 12

 13 FL383063005 Corporate and foreign bonds 503.9 587.3 748.4 794.1 893.3 669.9 748.4 578.8 530.0 13

 14 FL384023005 Loans 3074.1 3202.5 3576.9 3384.9 3483.2 3537.5 3576.9 3628.6 3658.6 14

 15 FL383069005 Other loans and advances 1220.4 1269.6 1575.7 1423.8 1512.4 1541.2 1575.7 1595.4 1620.4 15

 16 FL383065005 Mortgages 549.6 550.6 560.3 549.6 555.2 557.5 560.3 564.5 566.0 16

 17 FL383066005 Consumer credit 1304.0 1382.3 1440.9 1411.4 1415.7 1438.8 1440.9 1468.7 1472.2 17

 18 LM383064105 Corporate equities 18262.5 23554.4 28469.4 18455.1 22512.4 24769.8 28469.4 31003.7 33661.3 18

 19 LM383064205 Mutual fund shares 8350.9 10391.5 11564.0 8504.1 9851.1 10470.6 11564.0 12061.2 12829.2 19

 20 FL383070005 Trade receivables 4934.6 5547.7 5657.7 5459.9 5259.8 5493.1 5657.7 5846.4 6058.9 20

 21 FL153040005 Life insurance reserves 1659.1 1731.3 1867.0 1733.7 1776.1 1811.9 1867.0 1854.2 1886.5 21

 22 FL153050005 Pension entitlements 25812.9 27994.1 29797.8 26751.0 28039.7 28696.9 29797.8 30199.0 30951.0 22

 23 FL383078005 Taxes payable 400.2 558.4 626.6 593.1 636.8 632.3 626.6 665.9 573.0 23

 24 LM152090205 Equity in noncorporate business 11278.5 12013.5 12891.1 12128.5 12269.0 12492.2 12891.1 13187.0 13706.8 24

 25 LM103092005 U.S. direct investment abroad 5411.8 6365.2 6885.4 4851.1 5743.6 6040.0 6885.4 7284.2 7756.8 25

 26 FL383090005 Miscellaneous assets 10795.0 11903.8 12329.0 13525.2 12794.9 12964.3 12329.0 12255.8 11931.7 26

 27 FL384190005 Total liabilities 73697.4 78142.0 85635.1 80155.3 83504.3 84715.8 85635.1 86683.4 87577.9 27

 28 LM313111303 U.S. official reserve assets 49.1 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 28

 29 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 29

 30 FL313112003 Treasury currency 23.7 23.2 23.1 23.2 23.2 23.1 23.1 23.1 23.1 30

 31 FL384122005 Debt securities 27464.5 28903.4 34181.0 29640.7 32872.7 33450.7 34181.0 34666.2 35054.8 31

 32 FL103169100 Open market paper 196.5 194.5 132.2 243.1 166.1 122.2 132.2 144.1 133.9 32

 33 FL313161105 Treasury securities 17842.1 19018.7 23600.9 19518.4 22370.7 22900.4 23600.9 23943.0 24301.5 33

 34 FL313161705 Agency- and GSE-backed securities 22.9 21.2 20.2 21.2 21.0 20.2 20.2 19.8 19.8 34

 35 FL383162005 Municipal securities 3860.5 3869.5 3952.9 3875.5 3895.4 3929.7 3952.9 3979.7 4002.4 35

 36 FL103163003 Corporate and foreign bonds 5542.4 5799.5 6474.9 5982.4 6419.6 6478.2 6474.9 6579.5 6597.1 36

 37 FL384123005 Loans 24609.5 25595.1 27044.3 26243.7 26528.7 26732.1 27044.3 27374.0 27725.8 37

 38 FL383168005 Depository institution loans n.e.c. 2807.3 2865.4 3136.7 3321.1 3446.8 3245.5 3136.7 3139.5 2998.0 38

 39 FL383169005 Other loans and advances 2557.6 2719.1 3174.3 2825.3 2885.7 3021.6 3174.3 3331.2 3417.3 39

 40 FL383165005 Mortgages 15237.6 15818.5 16548.3 15949.5 16098.9 16322.3 16548.3 16736.1 17044.1 40

 41 FL153166000 Consumer credit 4007.0 4192.2 4185.0 4147.8 4097.3 4142.7 4185.0 4167.2 4266.5 41

 42 FL383170005 Trade payables 5034.1 5398.6 5575.4 5313.8 5151.4 5406.0 5575.4 5727.5 5929.8 42

 43 FL313140003 Life insurance reserves 51.3 52.2 52.4 52.0 52.0 52.4 52.4 52.7 51.8 43

 44 FL143178005 Taxes payable 422.3 423.9 450.8 454.3 489.5 445.4 450.8 457.5 409.8 44

 45 LM143192305 Foreign direct investment: intercompany debt 415.3 417.8 373.4 403.2 390.1 390.5 373.4 360.1 357.2 45

 46 FL383190005 Miscellaneous liabilities 15622.4 17273.8 17878.7 17971.0 17942.9 18160.7 17878.7 17967.1 17969.9 46

 Memo:

 47 LM103164103 Corporate equities (market value) 26543.6 33680.3 41960.8 27002.7 33391.0 36930.1 41960.8 44859.4 48489.5 47

 48 LM112090205 Equity in noncorporate business 11200.3 11930.0 12800.7 12043.7 12180.5 12405.1 12800.7 13093.3 13608.9 48

 49 LM143192105 Foreign direct investment: equity 5892.8 7603.8 8833.2 6077.4 7293.0 7938.6 8833.2 9363.2 10223.7 49

(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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL154090005 Total financial assets 82412.5 93387.0 104442.1 86495.9 93742.1 97356.0 104442.1 108597.8 113149.4 1

 2 LM153091003 Foreign deposits 41.8 40.8 48.6 50.2 43.7 47.7 48.6 50.0 49.4 2

 3 FL153020005 Checkable deposits and currency 1208.7 1173.4 2885.5 1316.0 1592.8 1738.8 2885.5 3314.6 3642.2 3

 4 FL153030005 Time and savings deposits 9295.7 9834.5 10310.5 10118.1 10646.8 10753.1 10310.5 10794.2 10624.6 4

 5 FL153034005 Money market fund shares 1799.0 2210.7 2548.2 2396.8 2660.0 2626.3 2548.2 2728.4 2772.8 5

 6 LM154022005 Debt securities 4424.1 4727.1 4492.7 4573.8 4316.5 4111.8 4492.7 3953.5 3772.1 6

 7 LM153061105 Treasury securities 1659.2 1775.1 1747.5 1424.1 1322.4 1395.4 1747.5 1505.3 1357.4 7

 8 LM153061705 Agency- and GSE-backed securities 587.9 685.4 314.8 695.0 443.7 371.3 314.8 212.0 246.7 8

 9 LM153062005 Municipal securities 1882.2 1904.9 1923.3 1882.5 1904.9 1911.5 1923.3 1883.5 1878.4 9

 10 LM153063005 Corporate and foreign bonds 294.8 361.7 507.0 572.2 645.5 433.7 507.0 352.6 289.6 10

 11 FL154023005 Loans 1115.3 1148.0 1257.4 1303.3 1274.7 1235.5 1257.4 1268.5 1283.0 11

 12 FL153069005 Other loans and advances (2) 999.4 1038.7 1156.6 1196.4 1170.5 1133.3 1156.6 1168.9 1185.2 12

 13 FL153065005 Mortgages 84.6 82.1 76.6 80.8 79.1 78.0 76.6 75.7 74.2 13

 14 FL163066223 Consumer credit (student loans) 31.3 27.3 24.1 26.1 25.1 24.3 24.1 23.9 23.6 14

 15 LM153064105 Corporate equities (3) 16269.8 20989.3 25634.0 16420.9 20108.1 22198.6 25634.0 28038.6 30490.0 15

 16 LM153064205 Mutual fund shares 7998.8 9966.1 11074.8 8143.8 9433.1 10025.6 11074.8 11553.9 12290.4 16

 17 FL163070005 Trade receivables 263.7 271.3 279.0 273.2 275.2 277.1 279.0 280.7 282.4 17

 18 FL153040005 Life insurance reserves 1659.1 1731.3 1867.0 1733.7 1776.1 1811.9 1867.0 1854.2 1886.5 18

 19 FL153050005 Pension entitlements (4) 25812.9 27994.1 29797.8 26751.0 28039.7 28696.9 29797.8 30199.0 30951.0 19

 20 FL593073005 Claims of pension fund on sponsor 6771.6 6236.3 5934.5 7221.1 6735.8 6519.5 5934.5 5921.0 5603.7 20

 21 FL153050025 Funded pension entitlements 19041.3 21757.8 23863.4 19529.8 21303.9 22177.3 23863.4 24278.1 25347.3 21

 22 LM152090205 Equity in noncorporate business 11278.5 12013.5 12891.1 12128.5 12269.0 12492.2 12891.1 13187.0 13706.8 22

 23 FL153090005 Miscellaneous assets 1245.1 1286.9 1355.6 1286.6 1306.3 1340.5 1355.6 1375.2 1398.2 23

 24 FL154190005 Total liabilities 16000.2 16506.7 17129.8 16573.2 16581.1 16846.4 17129.8 17327.4 17674.4 24

 25 FL163162003 Debt securities (municipal securities) 216.0 212.8 202.8 209.8 207.6 206.3 202.8 203.5 203.3 25

 26 FL154123005 Loans 15386.6 15887.9 16514.1 15953.1 15962.5 16227.9 16514.1 16707.2 17053.5 26

 27 FL153165105 One-to-four-family residential mortgages (5) 10204.4 10482.8 10925.7 10544.4 10626.7 10785.8 10925.7 11047.5 11270.3 27

 28 FL153166000 Consumer credit 4007.0 4192.2 4185.0 4147.8 4097.3 4142.7 4185.0 4167.2 4266.5 28

 29 FL153168005 Depository institution loans n.e.c. (6) 339.0 350.2 370.5 383.9 375.8 364.6 370.5 369.8 371.5 29

 30 FL153169005 Other loans and advances 580.0 603.8 772.4 617.7 603.0 674.7 772.4 862.1 884.2 30

 31 FL163165505 Commercial mortgages 256.1 259.0 260.4 259.3 259.7 260.0 260.4 260.7 260.9 31

 32 FL163170005 Trade payables 362.6 369.5 376.3 371.2 372.9 374.6 376.3 378.0 379.7 32

 33 FL543077073 Deferred and unpaid life insurance premiums 35.0 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 33

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary balance sheet table B.101.n shows estimates of annual year-end outstandings of nonprofit organizations.

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

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

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

(5) Includes loans made under home equity lines of credit and home equity loans secured by junior liens (table L.218, line 23).

(6) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF I).
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L.102 Nonfinancial Business (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL144090005 Total financial assets 24958.1 28662.3 30988.0 29023.4 29825.5 30534.1 30988.0 31576.5 32221.1 1

 2 FL103091003 Foreign deposits 106.3 131.0 142.8 111.3 145.3 159.8 142.8 142.3 176.8 2

 3 FL143020005 Checkable deposits and currency 1507.2 1677.8 2441.5 1955.8 2458.3 2536.6 2441.5 2438.7 2471.9 3

 4 FL143030005 Time and savings deposits 1235.1 1308.0 1534.0 1480.1 1568.6 1565.4 1534.0 1557.8 1583.4 4

 5 FL143034005 Money market fund shares 570.7 668.7 797.3 1033.5 987.2 806.5 797.3 748.9 730.3 5

 6 FL102051003 Security repurchase agreements 14.6 13.4 39.8 27.4 32.4 30.3 39.8 23.9 39.0 6

 7 LM144022005 Debt securities 329.0 406.7 467.7 457.1 480.7 478.3 467.7 433.5 464.3 7

 8 FL103069100 Commercial paper 162.1 217.6 255.7 227.8 219.9 238.4 255.7 239.1 275.3 8

 9 LM143061105 Treasury securities 124.6 137.7 155.4 168.7 192.3 176.6 155.4 141.4 137.2 9

 10 LM103061703 Agency- and GSE-backed securities 18.1 21.2 25.1 30.7 37.6 32.1 25.1 21.3 19.8 10

 11 LM143062005 Municipal securities 24.2 30.2 31.6 29.9 30.8 31.2 31.6 31.6 31.9 11

 12 FL144023005 Loans 119.7 124.0 130.6 125.1 127.8 129.4 130.6 131.6 132.5 12

 13 FL143065005 Mortgages 83.2 88.2 94.8 90.4 93.0 94.3 94.8 96.9 97.7 13

 14 FL143066005 Consumer credit 36.5 35.8 35.8 34.7 34.8 35.1 35.8 34.7 34.8 14

 15 LM103064103 Corporate equities 1789.9 2317.7 2552.1 1833.4 2168.3 2318.6 2552.1 2667.6 2853.7 15

 16 LM103064203 Mutual fund shares 269.9 326.4 376.4 276.9 321.6 342.8 376.4 390.7 415.3 16

 17 FL143070005 Trade receivables 4365.3 4953.5 5030.2 4869.0 4666.1 4880.7 5030.2 5204.3 5404.0 17

 18 LM103092005 U.S. direct investment abroad 5411.8 6365.2 6885.4 4851.1 5743.6 6040.0 6885.4 7284.2 7756.8 18

 19 FL143090005 Miscellaneous assets 9238.7 10369.8 10590.2 12002.7 11125.4 11245.8 10590.2 10552.9 10201.3 19

 20 FL144190005 Total liabilities 28756.3 31760.9 33635.5 32564.4 33088.9 33347.2 33635.5 34079.4 34309.7 20

 21 FL104122005 Debt securities 6310.2 6580.5 7198.2 6814.7 7175.9 7191.5 7198.2 7315.3 7327.9 21

 22 FL103169100 Commercial paper 196.5 194.5 132.2 243.1 166.1 122.2 132.2 144.1 133.9 22

 23 FL103162000 Municipal securities 571.3 586.5 591.2 589.1 590.2 591.1 591.2 591.6 596.8 23

 24 FL103163003 Corporate bonds 5542.4 5799.5 6474.9 5982.4 6419.6 6478.2 6474.9 6579.5 6597.1 24

 25 FL144123005 Loans 9202.9 9686.1 10508.0 10269.4 10544.8 10482.4 10508.0 10644.5 10650.0 25

 26 FL143168005 Depository institution loans n.e.c. 2468.2 2515.2 2766.1 2937.2 3071.0 2880.9 2766.1 2769.8 2626.5 26

 27 FL143169005 Other loans and advances 1957.5 2094.1 2379.8 2186.4 2261.4 2325.1 2379.8 2446.8 2510.8 27

 28 FL143165005 Mortgages 4777.1 5076.8 5362.1 5145.8 5212.4 5276.5 5362.1 5427.9 5512.8 28

 29 FL143170005 Trade payables 3289.0 3562.0 3666.9 3465.3 3300.2 3524.4 3666.9 3787.6 3957.6 29

 30 FL143178005 Taxes payable 422.3 423.9 450.8 454.3 489.5 445.4 450.8 457.5 409.8 30

 31 LM143192305 Foreign direct investment: intercompany debt 415.3 417.8 373.4 403.2 390.1 390.5 373.4 360.1 357.2 31

 32 FL143190005 Miscellaneous liabilities 9116.6 11090.6 11438.1 11157.5 11188.5 11312.9 11438.1 11514.3 11607.1 32

 Memo:

 33 LM103164103 Corporate equities (market value) 26543.6 33680.3 41960.8 27002.7 33391.0 36930.1 41960.8 44859.4 48489.5 33

 34 LM112090205 Equity in noncorporate business 11200.3 11930.0 12800.7 12043.7 12180.5 12405.1 12800.7 13093.3 13608.9 34

 35 LM143192105 Foreign direct investment: equity 5892.8 7603.8 8833.2 6077.4 7293.0 7938.6 8833.2 9363.2 10223.7 35

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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L.103 Nonfinancial Corporate Business

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL104090005 Total financial assets 19112.5 22481.9 24258.7 22659.3 23238.5 23825.3 24258.7 24768.1 25348.3 1

 2 FL103091003 Foreign deposits 106.3 131.0 142.8 111.3 145.3 159.8 142.8 142.3 176.8 2

 3 FL103020000 Checkable deposits and currency 1189.7 1339.9 1999.4 1559.9 2014.0 2094.2 1999.4 1974.5 1994.4 3

 4 FL103030003 Time and savings deposits 187.2 201.5 305.0 298.9 329.8 330.2 305.0 295.0 301.7 4

 5 FL103034000 Money market fund shares 466.1 558.3 677.9 919.6 868.9 686.8 677.9 628.6 609.7 5

 6 FL102051003 Security repurchase agreements 14.6 13.4 39.8 27.4 32.4 30.3 39.8 23.9 39.0 6

 7 LM104022005 Debt securities 253.2 326.6 381.0 374.5 394.9 391.4 381.0 349.5 380.0 7

 8 FL103069100 Commercial paper 162.1 217.6 255.7 227.8 219.9 238.4 255.7 239.1 275.3 8

 9 LM103061103 Treasury securities 54.4 63.6 75.2 92.2 112.9 96.2 75.2 64.0 59.5 9

 10 LM103061703 Agency- and GSE-backed securities 18.1 21.2 25.1 30.7 37.6 32.1 25.1 21.3 19.8 10

 11 LM103062003 Municipal securities 18.5 24.2 25.1 23.8 24.4 24.7 25.1 25.0 25.3 11

 12 FL104023005 Loans 70.7 72.2 74.6 71.7 72.4 73.2 74.6 74.1 74.8 12

 13 FL103065003 Mortgages 34.2 36.4 38.8 37.0 37.6 38.2 38.8 39.4 40.0 13

 14 FL103066005 Consumer credit 36.5 35.8 35.8 34.7 34.8 35.1 35.8 34.7 34.8 14

 15 LM103064103 Corporate equities 1789.9 2317.7 2552.1 1833.4 2168.3 2318.6 2552.1 2667.6 2853.7 15

 16 LM103064203 Mutual fund shares 269.9 326.4 376.4 276.9 321.6 342.8 376.4 390.7 415.3 16

 17 FL103070005 Trade receivables 3512.7 4053.2 4082.9 3957.3 3740.8 3944.1 4082.9 4243.2 4439.7 17

 18 LM103092005 U.S. direct investment abroad (1) 5411.8 6365.2 6885.4 4851.1 5743.6 6040.0 6885.4 7284.2 7756.8 18

 19 FL103090005 Miscellaneous assets 5840.5 6776.4 6741.3 8377.3 7406.6 7413.9 6741.3 6694.3 6314.6 19

 20 FL103076005 Insurance receivables 377.0 392.0 417.3 395.6 404.0 416.4 417.3 426.6 434.0 20

 21 FL103092405 Equity in GSEs 1.2 1.3 1.4 1.4 1.3 1.3 1.4 1.5 1.5 21

 22 FL103094105 Investment in finance company affiliates 113.2 112.5 109.5 111.3 107.8 103.8 109.5 109.4 99.8 22

 23 FL103072005 PPP subsidies receivable 0.0 0.0 210.0 0.0 92.5 223.9 210.0 217.2 266.5 23

 24 FL103093005 Other 5349.1 6270.6 6003.1 7869.0 6801.1 6668.6 6003.1 5939.6 5512.8 24

 25 FL104190005 Total liabilities 20371.9 22974.3 24289.3 23586.9 23882.3 24015.3 24289.3 24646.5 24807.7 25

 26 FL104122005 Debt securities 6310.2 6580.5 7198.2 6814.7 7175.9 7191.5 7198.2 7315.3 7327.9 26

 27 FL103169100 Commercial paper 196.5 194.5 132.2 243.1 166.1 122.2 132.2 144.1 133.9 27

 28 FL103162000 Municipal securities (2) 571.3 586.5 591.2 589.1 590.2 591.1 591.2 591.6 596.8 28

 29 FL103163003 Corporate bonds (1) 5542.4 5799.5 6474.9 5982.4 6419.6 6478.2 6474.9 6579.5 6597.1 29

 30 FL104123005 Loans 3339.3 3550.4 3862.0 3978.2 4017.3 3863.9 3862.0 3938.9 3910.6 30

 31 FL103168005 Depository institution loans n.e.c. 1003.1 1034.0 1111.6 1368.0 1361.6 1164.0 1111.6 1119.8 1023.2 31

 32 FL103169005 Other loans and advances (3) 1709.8 1837.7 2027.4 1924.2 1958.1 1993.3 2027.4 2082.2 2123.0 32

 33 FL103165005 Mortgages 626.5 678.7 723.1 686.0 697.6 706.6 723.1 737.0 764.4 33

 34 FL103170005 Trade payables 2690.4 2920.5 3051.2 2821.1 2694.0 2904.5 3051.2 3146.7 3305.8 34

 35 FL103178005 Taxes payable 266.7 259.9 273.7 285.3 314.1 267.9 273.7 275.7 227.4 35

 36 LM103192305 Foreign direct investment: intercompany debt 408.2 410.7 366.9 396.3 383.4 383.9 366.9 353.8 351.1 36

 37 FL103190005 Miscellaneous liabilities 7357.1 9252.3 9537.4 9291.3 9297.6 9403.5 9537.4 9616.1 9684.9 37

 38 FL573074005 Pension fund contributions payable 84.7 80.1 70.2 79.4 76.6 73.7 70.2 67.9 64.3 38

 39 FL573073005 Claims of pension fund on sponsor 601.7 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 39

 40 FL103193005 Other 6670.8 8767.4 9248.3 8451.8 8732.3 8925.9 9248.3 9341.6 9542.8 40

 Memo:

 41 LM103164103 Corporate equities (market value) 26543.6 33680.3 41960.8 27002.7 33391.0 36930.1 41960.8 44859.4 48489.5 41

 42 LM103192105 Foreign direct investment: equity 5813.2 7498.2 8712.1 5993.6 7192.3 7830.7 8712.1 9235.9 10090.8 42

 43 FL104001005 Total liquid assets (4) 4276.8 5214.8 6474.5 5402.0 6275.2 6354.0 6474.5 6472.2 6770.6 43

 44 FL104150005 Total short-term liabilities (5) 5866.3 6246.6 6596.0 6641.7 6493.9 6452.0 6596.0 6768.5 6813.3 44

 45 FL104001006 Liquid assets/short-term liabilities (percent) 72.90 83.48 98.16 81.33 96.63 98.48 98.16 95.62 99.37 45

 46 FL104140006 Short-term debt/total debt (percent) (6) 30.15 30.27 29.58 32.76 31.14 29.66 29.58 29.73 29.19 46

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

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

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

(4) Sum of lines 2 through 7 and lines 15 and 16.

(5) Sum of lines 27, 31, 32, 34, and 35. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(6) Short-term debt is the sum of lines 27, 31, and 32. Total debt is the sum of lines 26 and 30.
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L.104 Nonfinancial Noncorporate Business

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL114090005 Total financial assets 5845.5 6180.3 6729.3 6364.1 6586.9 6708.8 6729.3 6808.5 6872.7 1

 2 FL113020005 Checkable deposits and currency 317.5 337.9 442.0 395.9 444.3 442.4 442.0 464.2 477.5 2

 3 FL113030003 Time and savings deposits 1047.9 1106.5 1229.0 1181.2 1238.9 1235.2 1229.0 1262.8 1281.7 3

 4 FL113034003 Money market fund shares 104.6 110.4 119.5 113.9 118.3 119.7 119.5 120.2 120.6 4

 5 LM114022005 Debt securities 75.8 80.0 86.6 82.6 85.8 86.8 86.6 84.0 84.3 5

 6 LM113061003 Treasury securities 70.2 74.1 80.2 76.5 79.4 80.4 80.2 77.4 77.7 6

 7 LM113062003 Municipal securities 5.6 5.9 6.4 6.1 6.4 6.4 6.4 6.6 6.6 7

 8 FL114023005 Loans 49.0 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 8

 9 FL113065005 Mortgages 49.0 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 9

 10 FL113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FL113070003 Trade receivables 852.6 900.3 947.3 911.7 925.3 936.6 947.3 961.1 964.3 11

 12 FL113090005 Miscellaneous assets 3398.2 3593.4 3848.9 3625.4 3718.8 3831.8 3848.9 3858.6 3886.7 12

 13 FL113076005 Insurance receivables 119.0 129.0 145.2 132.3 137.1 142.7 145.2 146.5 147.8 13

 14 FL113092405 Equity investment in GSEs (1) 12.5 12.8 13.0 12.6 12.8 13.0 13.0 13.0 13.6 14

 15 FL113072003 PPP subsidies receivable 0.0 0.0 117.5 0.0 51.0 123.5 117.5 122.7 163.9 15

 16 FL113093005 Other 3266.7 3451.7 3573.1 3480.5 3517.9 3552.7 3573.1 3576.3 3561.3 16

 17 FL114190005 Total liabilities 8384.4 8786.5 9346.2 8977.6 9206.7 9331.9 9346.2 9432.9 9502.0 17

 18 FL114123005 Loans 5863.6 6135.7 6646.0 6291.2 6527.5 6618.5 6646.0 6705.6 6739.4 18

 19 FL113168005 Depository institution loans n.e.c. 1465.2 1481.2 1654.5 1569.2 1709.4 1716.8 1654.5 1650.0 1603.3 19

 20 FL113169005 Other loans and advances 247.8 256.4 352.4 262.2 303.2 331.8 352.4 364.6 387.8 20

 21 FL113165005 Mortgages 4150.7 4398.1 4639.1 4459.8 4514.9 4569.9 4639.1 4691.0 4748.4 21

 22 FL113170005 Trade payables 598.6 641.5 615.7 644.2 606.2 619.9 615.7 640.9 651.9 22

 23 FL113178003 Taxes payable 155.6 164.0 177.1 169.1 175.5 177.5 177.1 181.8 182.4 23

 24 LM115114305 Foreign direct investment: intercompany debt 7.1 7.1 6.5 6.8 6.7 6.6 6.5 6.3 6.1 24

 25 FL113193003 Miscellaneous liabilities 1759.5 1838.2 1900.8 1866.2 1890.9 1909.4 1900.8 1898.2 1922.2 25

 Memo:

 26 LM112090205 Equity in noncorporate business 11200.3 11930.0 12800.7 12043.7 12180.5 12405.1 12800.7 13093.3 13608.9 26

 27 LM115114103 Foreign direct investment: equity 79.6 105.6 121.2 83.8 100.6 107.9 121.2 127.3 132.9 27

(1) Equity in the Farm Credit System.
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82 Z.1, September 23, 2021

L.105 General Government (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL364090005 Total financial assets 5899.6 6317.0 8566.4 6508.9 8244.2 8464.3 8566.4 7984.6 7950.5 1

 2 FL313011005 U.S. official reserve assets 93.9 97.8 111.7 96.4 102.2 106.5 111.7 107.0 108.1 2

 3 FL363020005 Checkable deposits and currency 538.8 546.3 1962.0 661.3 1892.7 1963.0 1962.0 1365.6 1152.2 3

 4 FL363030005 Time and savings deposits 405.4 425.5 414.6 432.3 431.8 435.7 414.6 416.3 393.2 4

 5 FL213034003 Money market fund shares 19.8 26.5 34.5 32.4 35.3 34.3 34.5 35.8 36.1 5

 6 FL212051003 Security repurchase agreements 164.9 163.6 182.9 161.4 174.2 178.9 182.9 189.1 195.5 6

 7 FL364022005 Debt securities 1535.7 1652.3 1917.7 1737.9 1876.5 1872.7 1917.7 1873.3 2103.6 7

 8 FL213069103 Open market paper 78.2 77.6 79.2 76.5 75.1 77.3 79.2 83.1 89.1 8

 9 FL213061105 Treasury securities 713.2 793.1 1111.9 862.1 1032.8 1057.7 1111.9 1112.1 1326.2 9

 10 FL363061705 Agency- and GSE-backed securities 518.4 539.3 466.5 560.8 503.0 483.3 466.5 432.3 427.6 10

 11 FL213062003 Municipal securities 16.8 16.7 18.6 16.5 17.8 18.2 18.6 19.5 20.2 11

 12 FL363063005 Corporate and foreign bonds 209.1 225.6 241.4 222.0 247.7 236.2 241.4 226.2 240.4 12

 13 FL364023005 Loans 1839.1 1930.5 2188.9 1956.5 2080.7 2172.6 2188.9 2228.5 2243.0 13

 14 FL363065005 Mortgages 381.8 380.3 388.9 378.4 383.0 385.2 388.9 391.9 394.1 14

 15 FL313066220 Consumer credit 1236.3 1319.2 1381.0 1350.6 1355.8 1379.4 1381.0 1410.1 1413.8 15

 16 FL313069005 Other loans and advances 221.0 230.9 419.0 227.4 341.9 407.9 419.0 426.5 435.2 16

 17 LM363064105 Corporate equities 202.8 247.3 283.2 200.7 236.0 252.6 283.2 297.6 317.7 17

 18 LM213064203 Mutual fund shares 82.2 98.9 112.8 83.4 96.4 102.2 112.8 116.6 123.4 18

 19 FL363070005 Trade receivables 305.6 322.9 348.5 317.7 318.6 335.3 348.5 361.4 372.4 19

 20 FL363078005 Taxes receivable 400.2 558.4 626.6 593.1 636.8 632.3 626.6 665.9 573.0 20

 21 FL363090005 Miscellaneous assets 311.2 247.1 383.2 236.0 363.2 378.0 383.2 327.7 332.2 21

 22 FL364190005 Total liabilities 28940.8 29874.4 34869.8 31017.6 33834.3 34522.2 34869.8 35276.6 35593.8 22

 23 LM313111303 SDR allocations 49.1 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 23

 24 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 24

 25 FL313112003 Treasury currency 23.7 23.2 23.1 23.2 23.2 23.1 23.1 23.1 23.1 25

 26 FL364122005 Debt securities 20938.2 22110.1 26779.9 22616.1 25489.2 26052.9 26779.9 27147.4 27523.7 26

 27 FL313161105 Treasury securities 17842.1 19018.7 23600.9 19518.4 22370.7 22900.4 23600.9 23943.0 24301.5 27

 28 FL313161705 Budget agency securities 22.9 21.2 20.2 21.2 21.0 20.2 20.2 19.8 19.8 28

 29 FL213162005 Municipal securities 3073.2 3070.2 3158.9 3076.5 3097.6 3132.3 3158.9 3184.6 3202.3 29

 30 FL364123005 Loans 20.1 21.1 22.1 21.2 21.4 21.8 22.1 22.3 22.3 30

 31 FL313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FL363169005 Other loans and advances 20.1 21.1 22.1 21.2 21.4 21.8 22.1 22.3 22.3 32

 33 FL363170005 Trade payables 1382.5 1467.1 1532.3 1477.2 1478.4 1507.1 1532.3 1561.9 1592.6 33

 34 FL313140003 Insurance reserves 51.3 52.2 52.4 52.0 52.0 52.4 52.4 52.7 51.8 34

 35 FL363190005 Miscellaneous liabilities 6470.8 6146.7 6403.9 6774.5 6716.3 6810.1 6403.9 6414.1 6324.8 35

 Memo:

 36 FL374090005 Total financial assets (consolidated) (2) 5149.5 5486.1 7413.8 5609.1 7172.3 7366.5 7413.8 6830.7 6581.8 36

 37 FL374190005 Total liabilities (consolidated) (2) 28190.7 29043.5 33717.2 30117.8 32762.3 33424.5 33717.2 34122.8 34225.1 37

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

(2) Excludes Treasury securities and municipal securities held by state and local governments (lines 9 and 11) and federal government loans to state and local governments (line 32).
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Z.1, September 23, 2021 83

L.106 Federal Government

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL314090005 Total financial assets 2630.3 2884.2 4665.2 3056.2 4550.2 4699.3 4665.2 4075.6 3719.5 1

 2 FL313011005 U.S. official reserve assets 93.9 97.8 111.7 96.4 102.2 106.5 111.7 107.0 108.1 2

 3 FL313020005 Checkable deposits and currency 405.9 407.2 1732.1 518.9 1725.4 1784.9 1732.1 1117.1 855.7 3

 4 FL313030003 Time and savings deposits 2.0 2.3 1.0 1.9 2.1 1.6 1.0 9.9 1.3 4

 5 FL314022005 Debt securities 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 5

 6 FL313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FL313063763 Corporate and foreign bonds 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 7

 8 FL314023005 Loans 1580.5 1674.0 1927.2 1703.4 1824.4 1913.1 1927.2 1964.8 1978.4 8

 9 FL313069005 Other loans and advances 221.0 230.9 419.0 227.4 341.9 407.9 419.0 426.5 435.2 9

 10 FL313065005 Mortgages 123.2 123.8 127.2 125.3 126.7 125.7 127.2 128.2 129.5 10

 11 FL313066220 Consumer credit (1) 1236.3 1319.2 1381.0 1350.6 1355.8 1379.4 1381.0 1410.1 1413.8 11

 12 LM313064105 Corporate equities (2) 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 12

 13 FL313070000 Trade receivables 75.4 73.5 84.9 73.4 80.6 81.6 84.9 91.9 93.4 13

 14 FL313078000 Taxes receivable 230.2 380.0 437.0 409.9 448.1 441.9 437.0 472.5 379.8 14

 15 FL313090005 Miscellaneous assets 208.7 215.7 337.7 218.7 333.8 335.9 337.7 278.8 269.3 15

 16 FL314190005 Total liabilities 20358.4 21576.7 26554.6 22108.6 25143.2 25905.8 26554.6 26957.3 27446.9 16

 17 LM313111303 SDR allocations 49.1 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 17

 18 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 18

 19 FL313112003 Treasury currency 23.7 23.2 23.1 23.2 23.2 23.1 23.1 23.1 23.1 19

 20 FL314122005 Debt securities 17865.0 19039.9 23621.1 19539.6 22391.7 22920.6 23621.1 23962.8 24321.4 20

 21 FL313161105 Treasury securities (3) 17842.1 19018.7 23600.9 19518.4 22370.7 22900.4 23600.9 23943.0 24301.5 21

 22 FL313161205 Marketable 15566.2 16628.9 20946.2 17115.8 19867.0 20340.2 20946.2 21347.4 21699.0 22

 23 FL313161305 Nonmarketable 2275.9 2389.8 2654.7 2402.6 2503.6 2560.2 2654.7 2595.6 2602.5 23

 24 FL313161705 Budget agency securities 22.9 21.2 20.2 21.2 21.0 20.2 20.2 19.8 19.8 24

 25 FL314123005 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FL313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FL313169003 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FL313170005 Trade payables 382.3 418.3 435.1 416.2 405.6 422.3 435.1 452.0 469.7 28

 29 FL313140003 Insurance reserves 51.3 52.2 52.4 52.0 52.0 52.4 52.4 52.7 51.8 29

 30 FL313190005 Miscellaneous liabilities 1981.8 1989.1 2366.9 2024.3 2216.9 2432.5 2366.9 2411.5 2525.4 30

 31 FL343073045 Claims of pension fund on sponsor 1681.0 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 31

 32 FL313172003 PPP subsidies payable 0.0 0.0 364.7 0.0 158.5 383.7 364.7 377.5 473.2 32

 33 FL313190015 Other 300.9 315.2 323.6 313.4 310.7 310.8 323.6 322.2 325.7 33

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

 the government purchased from depository institutions and finance companies.

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

(3) Includes marketable and nonmarketable Treasury securities held by the public and Treasury securities held by federal government employee retirement funds.
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84 Z.1, September 23, 2021

L.107 State and Local Governments

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL214090005 Total financial assets 3269.3 3432.8 3901.3 3452.6 3694.1 3765.0 3901.3 3909.0 4230.9 1

 2 FL213020005 Checkable deposits and currency 132.9 139.1 229.9 142.3 167.3 178.1 229.9 248.5 296.5 2

 3 FL213030000 Time and savings deposits 403.4 423.2 413.6 430.4 429.7 434.1 413.6 406.4 392.0 3

 4 FL213034003 Money market fund shares 19.8 26.5 34.5 32.4 35.3 34.3 34.5 35.8 36.1 4

 5 FL212051003 Security repurchase agreements 164.9 163.6 182.9 161.4 174.2 178.9 182.9 189.1 195.5 5

 6 LM214022005 Debt securities 1535.2 1651.8 1917.2 1737.4 1876.0 1872.3 1917.2 1872.8 2103.1 6

 7 FL213069103 Open market paper 78.2 77.6 79.2 76.5 75.1 77.3 79.2 83.1 89.1 7

 8 LM213061105 Treasury securities 713.2 793.1 1111.9 862.1 1032.8 1057.7 1111.9 1112.1 1326.2 8

 9 LM213061703 Agency- and GSE-backed securities 518.4 539.3 466.5 560.8 503.0 483.3 466.5 432.3 427.6 9

 10 LM213062003 Municipal securities 16.8 16.7 18.6 16.5 17.8 18.2 18.6 19.5 20.2 10

 11 LM213063003 Corporate and foreign bonds 208.6 225.1 240.9 221.5 247.2 235.7 240.9 225.7 239.9 11

 12 FL213065005 Loans (mortgages) 258.6 256.5 261.7 253.1 256.3 259.5 261.7 263.6 264.6 12

 13 LM213064103 Corporate equities 169.6 214.1 250.0 167.6 202.8 219.5 250.0 264.4 284.5 13

 14 LM213064203 Mutual fund shares 82.2 98.9 112.8 83.4 96.4 102.2 112.8 116.6 123.4 14

 15 FL213070003 Trade receivables 230.2 249.3 263.7 244.3 238.0 253.7 263.7 269.5 279.1 15

 16 FL213078005 Taxes receivable 170.0 178.5 189.7 183.2 188.7 190.4 189.7 193.4 193.2 16

 17 FL213093003 Miscellaneous assets 102.5 31.3 45.4 17.3 29.3 42.0 45.4 48.9 62.9 17

 18 FL214190005 Total liabilities 8582.4 8297.7 8315.2 8909.0 8691.1 8616.5 8315.2 8319.3 8146.9 18

 19 FL213162005 Debt securities (municipal securities) 3073.2 3070.2 3158.9 3076.5 3097.6 3132.3 3158.9 3184.6 3202.3 19

 20 FL213162400 Short-term (1) 38.0 44.8 46.7 43.0 41.2 44.8 46.7 43.3 36.8 20

 21 FL213162200 Long-term 3035.1 3025.4 3112.2 3033.5 3056.4 3087.5 3112.2 3141.2 3165.5 21

 22 FL213169203 Loans (U.S. government loans) 20.1 21.1 22.1 21.2 21.4 21.8 22.1 22.3 22.3 22

 23 FL213170003 Trade payables 1000.2 1048.8 1097.2 1061.0 1072.8 1084.8 1097.2 1109.9 1122.9 23

 24 FL223073045 Claims of pension fund on sponsor (2) 4488.9 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 4002.6 3799.4 24

(1) Debt with original maturity of 13 months or less.

(2) Included in miscellaneous liabilities.
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Z.1, September 23, 2021 85

L.108 Domestic Financial Sectors (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL794090005 Total financial assets 97785.6 107423.0 121802.1 107283.3 114333.7 116548.1 121802.1 124430.2 128415.4 1

 2 FL713011005 U.S. official reserve assets 31.8 31.6 33.1 31.4 31.6 32.3 33.1 31.9 32.0 2

 3 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 FL713012003 Treasury currency 49.8 50.1 50.5 50.2 50.3 50.4 50.5 50.5 50.7 4

 5 FL633091003 Foreign deposits 1.5 7.4 0.7 3.8 2.1 0.9 0.7 2.2 0.3 5

 6 FL794010005 Net interbank assets 1637.3 1631.7 3138.1 2649.3 2961.7 2898.6 3138.1 3810.5 3644.7 6

 7 FL793020005 Checkable deposits and currency 398.9 469.6 694.3 777.5 651.9 579.1 694.3 736.3 663.3 7

 8 FL793030005 Time and savings deposits 662.5 716.8 723.1 756.6 837.8 772.7 723.1 690.5 652.7 8

 9 FL793034005 Money market fund shares 538.2 603.3 828.5 744.8 817.5 813.7 828.5 855.5 867.0 9

 10 FL792050005 Federal funds and security repos 3301.1 3896.1 3592.5 4171.8 3494.0 3487.2 3592.5 3202.9 3742.7 10

 11 FL794022005 Debt securities 26235.7 28757.5 35906.3 30245.6 34118.7 34965.7 35906.3 35988.7 36851.9 11

 12 FL793069175 Open market paper 630.9 619.9 566.7 684.5 605.2 553.0 566.7 681.1 615.9 12

 13 FL793061105 Treasury securities 8840.4 9785.0 14561.0 11210.2 13844.7 14216.1 14561.0 14534.9 14835.7 13

 14 FL793061705 Agency- and GSE-backed securities 6874.2 7236.9 8413.7 7667.4 7957.6 8162.7 8413.7 8551.5 8761.7 14

 15 FL793062005 Municipal securities 1977.8 2105.7 2234.3 2060.6 2129.9 2178.4 2234.3 2252.8 2315.0 15

 16 FL793063005 Corporate and foreign bonds 7912.3 9010.1 10130.6 8622.9 9581.2 9855.4 10130.6 9968.4 10323.7 16

 17 FL794023005 Loans 23425.7 24206.8 25239.0 25127.6 24933.9 24956.9 25239.0 25503.5 25878.3 17

 18 FL793068005 Depository institution loans n.e.c. 3663.8 3803.1 4216.0 4450.7 4479.5 4272.2 4216.0 4239.6 4179.8 18

 19 FL793069005 Other loans and advances 2144.7 2101.7 2065.5 2315.5 2006.1 1991.0 2065.5 2173.9 2206.9 19

 20 FL793065005 Mortgages 14914.2 15492.2 16213.4 15625.0 15766.7 15989.8 16213.4 16391.4 16697.3 20

 21 FL793066005 Consumer credit 2703.0 2809.8 2744.1 2736.4 2681.6 2703.9 2744.1 2698.6 2794.3 21

 22 LM793064105 Corporate equities 18823.3 22890.3 25985.6 17933.8 21341.4 22885.0 25985.6 27518.7 29560.7 22

 23 LM793064205 Mutual fund shares 5520.0 6371.9 6969.2 5244.5 6023.5 6327.5 6969.2 7126.9 7479.5 23

 24 FL793070005 Trade receivables 321.5 335.2 375.9 350.9 368.4 382.4 375.9 382.3 392.7 24

 25 FL793040005 Life insurance reserves 483.5 500.9 516.6 504.1 508.2 512.1 516.6 517.6 526.7 25

 26 FL543050005 Pension entitlements 191.4 199.5 291.3 219.7 249.1 268.3 291.3 292.3 297.2 26

 27 LM793092005 U.S. direct investment abroad 958.9 1213.9 1355.4 955.3 1112.2 1168.2 1355.4 1442.1 1524.4 27

 28 FL793090005 Miscellaneous assets 15199.5 15535.2 16096.7 17511.3 16826.3 16442.0 16096.7 16272.6 16245.4 28

 29 FL794190005 Total liabilities 90976.3 98767.7 111279.2 99532.5 105340.2 106995.7 111279.2 113901.5 116909.6 29

 30 FL794110005 Net interbank liabilities 1810.9 1711.9 3258.2 3063.4 3210.8 3080.8 3258.2 3852.4 3652.8 30

 31 FL793120005 Checkable deposits and currency 4583.7 4856.0 9128.6 5771.8 7671.3 7926.9 9128.6 9033.6 9115.2 31

 32 FL703130005 Time and savings deposits 12200.5 12884.6 13679.7 13500.0 14171.0 14212.6 13679.7 14194.6 14001.5 32

 33 FL634090005 Money market fund shares 3038.3 3634.3 4335.6 4338.0 4635.9 4410.1 4335.6 4500.4 4539.3 33

 34 FL792150005 Federal funds and security repos 2980.9 3205.7 2946.7 3458.7 2853.5 2884.5 2946.7 2874.5 3723.1 34

 35 FL794122005 Debt securities 13585.1 13977.3 14874.6 14593.0 14564.8 14599.2 14874.6 15065.7 15356.5 35

 36 FL793169175 Open market paper 431.2 397.9 390.9 422.0 403.1 378.7 390.9 455.0 427.5 36

 37 FL423161705 Agency- and GSE-backed securities 9089.6 9408.3 10066.5 9747.9 9722.7 9846.0 10066.5 10206.5 10387.6 37

 38 FL793163005 Corporate and foreign bonds 4064.3 4171.1 4417.3 4423.1 4439.0 4374.4 4417.3 4404.1 4541.4 38

 39 FL794123005 Loans 2027.4 1954.7 1923.6 2367.7 2029.3 1916.3 1923.6 1921.5 1963.1 39

 40 FL793168005 Depository institution loans n.e.c. 311.0 305.1 380.7 413.8 347.1 341.7 380.7 383.7 437.7 40

 41 FL793169005 Other loans and advances 1490.2 1425.3 1317.4 1728.9 1459.2 1349.7 1317.4 1318.0 1306.0 41

 42 FL123165005 Mortgages 226.2 224.3 225.4 225.1 223.0 225.0 225.4 219.9 219.3 42

 43 LM653164205 Mutual fund shares 14669.8 17659.5 19562.6 14543.1 16776.1 17749.3 19562.6 20271.3 21459.7 43

 44 FL793170005 Trade payables 280.0 295.2 397.2 320.3 352.4 380.2 397.2 400.9 401.2 44

 45 FL543140005 Life insurance reserves 2035.2 2122.4 2248.9 2122.6 2161.3 2195.6 2248.9 2237.6 2278.7 45

 46 FL583150005 Pension entitlements 25942.1 28128.8 29963.7 26892.5 28191.2 28854.9 29963.7 30365.5 31120.2 46

 47 FL793178005 Taxes payable 159.5 172.4 164.3 162.3 168.5 161.8 164.3 151.6 143.2 47

 48 LM793192305 Foreign direct investment: intercompany debt 186.1 170.6 178.1 167.9 167.2 168.8 178.1 176.8 178.8 48

 49 FL793190005 Miscellaneous liabilities 7476.7 7994.3 8617.4 8231.0 8386.9 8454.8 8617.4 8855.2 8976.3 49

 Memo:

 50 LM793164105 Corporate equities (market value) (2) 9272.1 11485.5 12407.6 8676.7 10019.3 10548.6 12407.6 13820.9 15214.6 50

 51 LM662090003 Equity in noncorporate business 78.2 83.5 90.3 84.8 88.5 87.1 90.3 93.8 98.0 51

 52 LM793192105 Foreign direct investment: equity 852.7 1170.8 1428.7 928.7 1115.9 1207.0 1428.7 1508.0 1639.2 52

(1) Sum of financial sectors shown on tables L.109 through L.132.

(1) Corporate equities outstanding detail is not available for financial subsectors and not shown on tables L.109 through L.132.
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86 Z.1, September 23, 2021

L.109 Monetary Authority (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL714090005 Total financial assets 4095.9 4379.1 7656.1 6179.5 7364.0 7402.6 7656.1 7768.5 8257.7 1

 2 FL713011005 U.S. official reserve assets 31.8 31.6 33.1 31.4 31.6 32.3 33.1 31.9 32.0 2

 3 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 FL713012003 Treasury currency 49.8 50.1 50.5 50.2 50.3 50.4 50.5 50.5 50.7 4

 5 FL713022003 Federal Reserve float -0.8 -0.6 -0.6 -0.7 -0.7 -1.3 -0.6 -1.1 -1.1 5

 6 FL713068705 Interbank loans 0.1 0.0 44.6 76.6 83.5 66.6 44.6 41.4 41.8 6

 7 FL713068703 Discount window (2) 0.1 0.0 1.6 49.1 7.2 3.5 1.6 0.8 0.5 7

 8 FL763069143 AMLF and MMLF loans (3) 0.0 0.0 2.0 27.5 11.8 3.9 2.0 0.1 0.0 8

 9 FL713068725 PPPLF loans (4) 0.0 0.0 41.0 0.0 64.5 59.3 41.0 40.4 41.3 9

 10 FL712051000 Security repurchase agreements 0.0 255.6 0.0 262.7 58.0 0.0 0.0 0.0 0.0 10

 11 LM714022005 Debt securities (5) 3982.6 4011.9 7422.2 5312.9 6847.7 7163.7 7422.2 7548.3 8010.8 11

 12 FL713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 LM713061103 Treasury securities 2338.0 2540.7 5254.6 3757.4 4807.9 5056.0 5254.6 5273.2 5596.5 13

 14 LM713061113 Treasury bills 0.0 168.5 326.0 325.9 325.9 326.0 326.0 326.0 326.0 14

 15 LM713061125 Other Treasury securities 2338.0 2372.3 4928.6 3431.5 4481.9 4730.0 4928.6 4947.2 5270.5 15

 16 LM713061705 Agency- and GSE-backed securities 1644.6 1471.1 2167.7 1555.5 2039.9 2107.8 2167.7 2275.1 2414.3 16

 17 LM713061903 Mortgage-backed securities 1641.4 1467.8 2164.1 1551.9 2036.2 2104.2 2164.1 2271.8 2410.9 17

 18 LM713061703 Other agency- and GSE-backed securities 3.2 3.3 3.5 3.6 3.6 3.6 3.5 3.3 3.4 18

 19 FL713068005 Loans (depository institution loans n.e.c.) 0.0 0.0 52.2 58.7 30.9 31.7 52.2 58.7 86.2 19

 20 FL713068813 Households (TALF I) (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL713068665 Brokers and dealers (7) 0.0 0.0 2.1 58.7 12.1 3.4 2.1 0.1 0.0 21

 22 FL713068863 Finance companies (PPPLF) (4) 0.0 0.0 9.4 0.0 3.7 8.3 9.4 19.7 49.3 22

 23 FL713068505 Other financial business (8) 0.0 0.0 40.7 0.0 15.1 20.0 40.7 38.9 36.9 23

 24 FL713064103 Corporate equities (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FL713090005 Miscellaneous assets 27.3 25.4 49.0 382.4 257.5 54.0 49.0 33.4 32.1 25

 26 FL713091103 Nonofficial foreign currencies (10) 4.2 3.7 17.9 357.7 226.9 23.9 17.9 2.5 0.6 26

 27 FL713093005 Other 23.1 21.7 31.1 24.7 30.6 30.1 31.1 30.9 31.5 27

 28 FL714190005 Total liabilities 4100.2 4216.6 7300.3 5786.3 6947.5 6996.3 7300.3 7688.8 8087.2 28

 29 FL713113003 Depository institution reserves 1556.0 1548.8 2994.9 2474.3 2787.0 2743.2 2994.9 3672.7 3511.6 29

 30 FL703025005 Vault cash of depository institutions 82.0 83.4 99.2 99.0 92.0 90.0 99.2 97.5 92.3 30

 31 FL713120005 Checkable deposits and currency 2117.6 2207.3 3945.7 2593.2 3792.1 3914.6 3945.7 3521.7 3178.3 31

 32 FL713123005 Due to federal government 402.4 404.0 1728.6 515.6 1722.1 1781.7 1728.6 1122.0 852.0 32

 33 FL713123023 Treasury cash holdings 0.2 0.2 0.0 0.3 0.1 0.0 0.0 0.1 0.0 33

 34 FL713123030 Treasury general deposit account 402.1 403.9 1728.6 515.3 1722.0 1781.7 1728.6 1122.0 851.9 34

 35 FL713123043 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 FL713124005 Due to government-sponsored enterprises 10.5 12.5 51.0 120.0 42.0 25.5 51.0 134.1 28.6 36

 37 FL713129005 Due to other financial business (11) 62.3 61.2 154.2 160.4 133.7 145.9 154.2 185.8 201.1 37

 38 FL713122605 Due to rest of the world 5.3 5.2 21.9 17.4 16.3 18.9 21.9 33.2 5.3 38

 39 FL713125005 Currency outside banks 1637.2 1724.2 1989.9 1779.7 1878.1 1942.5 1989.9 2046.5 2091.3 39

 40 FL712151003 Security repurchase agreements 304.0 336.6 216.1 569.1 233.0 205.2 216.1 352.2 1260.9 40

 41 FL712151103 Reverse repurchase agreement operations (12) 41.8 64.1 9.7 284.9 1.0 0.9 9.7 134.3 991.9 41

 42 FL712151115 Other (13) 262.2 272.6 206.4 284.2 232.0 204.4 206.4 217.9 269.0 42

 43 FL713190005 Miscellaneous liabilities 40.6 40.4 44.4 50.8 43.5 43.2 44.4 44.7 44.0 43

 44 FL313094213 Treasury contributions to MMLF 0.0 0.0 1.5 0.0 1.5 1.5 1.5 1.5 0.0 44

 45 FL713164003 Federal Reserve Bank stock 32.3 31.7 32.4 32.0 32.0 32.4 32.4 32.5 32.8 45

 46 FL713193005 Other 8.2 8.7 10.5 18.8 10.0 9.3 10.5 10.7 11.2 46

 Memo:

 47 FL714022065 Amortized cost of debt securities 3988.7 3851.3 7068.2 4921.6 6433.2 6759.3 7068.2 7470.8 7842.5 47

 48 FL713061163 Treasury securities 2302.5 2401.6 4955.9 3421.1 4455.4 4705.5 4955.9 5210.3 5450.1 48

 49 FL713061765 Agency- and GSE-backed securities 1686.3 1449.6 2112.3 1500.6 1977.8 2053.8 2112.3 2260.5 2392.4 49

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(3) Loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) and the

 Money Market Mutual Fund Liquidity Facility (MMLF). The AMLF was dissolved in 2010:Q1.

(4) Loans extended to depository institutions (line 9) and finance companies (line 22) through the Paycheck Protection Program Liquidity Facility (PPPLF).

(5) Shown at estimated fair value.

(6) Loans extended to financial institutions such as domestic hedge funds through the 2008 Term Asset-Backed Securities Loan Facility (TALF I).

(7) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF), AMLF (2008-2010), and MMLF (2020).

(8) Loans extended to Federal Reserve funding, credit, and liquidity, facility special purpose vehicles created in response to the 2008 Financial Crisis and COVID-19 pandemic.

(9) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assuance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. Series is zero after 2010:Q4.

(10) Reciprocal currency arrangements (swap lines) with foreign central banks.

(11) Deposits of designated financial market utilities (DFMU) and deposits of Federal Reserve facility LLC’s special purpose vehicles.

(12) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(13) Includes reverse repurchase agreements conducted through the Federal Reserve’s Foreign Repo Pool.
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Z.1, September 23, 2021 87

L.110 Private Depository Institutions (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL704090005 Total financial assets 19194.8 20056.3 23448.7 21923.8 22776.1 22901.9 23448.7 24158.5 24385.5 1

 2 FL703025005 Vault cash 82.0 83.4 99.2 99.0 92.0 90.0 99.2 97.5 92.3 2

 3 FL713113003 Reserves at Federal Reserve 1556.0 1548.8 2994.9 2474.3 2787.0 2743.2 2994.9 3672.7 3511.6 3

 4 FL702050005 Federal funds and security repos 702.0 738.3 862.5 659.2 863.2 835.0 862.5 567.1 576.6 4

 5 LM704022005 Debt securities 4299.9 4647.5 5790.6 4881.5 5229.3 5516.7 5790.6 6188.5 6453.2 5

 6 FL703069175 Open market paper 0.2 0.7 2.3 28.7 12.4 4.2 2.3 0.3 0.1 6

 7 LM703061105 Treasury securities 736.7 879.3 1203.3 894.3 1103.5 1187.0 1203.3 1255.5 1348.9 7

 8 LM703061705 Agency- and GSE-backed securities 2445.5 2634.4 3375.7 2823.8 2920.8 3095.6 3375.7 3604.8 3729.6 8

 9 LM703062005 Municipal securities 505.8 478.3 522.8 491.4 510.0 514.5 522.8 527.7 541.1 9

 10 LM703063005 Corporate and foreign bonds 611.8 654.8 686.5 643.3 682.5 715.5 686.5 800.2 833.4 10

 11 FL704023005 Loans 11269.4 11727.0 12096.0 12301.3 12329.9 12160.2 12096.0 12022.6 12070.5 11

 12 FL703068005 Depository institution loans n.e.c. 3663.8 3803.1 4163.8 4392.0 4448.6 4240.5 4163.8 4180.9 4093.7 12

 13 FL703069005 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL703065005 Mortgages 5442.4 5654.9 5741.4 5704.2 5738.6 5766.7 5741.4 5705.6 5756.5 14

 15 FL703066005 Consumer credit 2163.2 2269.0 2190.8 2205.1 2142.7 2153.0 2190.8 2136.1 2220.3 15

 16 LM703064105 Corporate equities 109.1 147.7 160.1 95.9 120.6 133.0 160.1 176.5 191.1 16

 17 LM703064205 Mutual fund shares 54.7 64.9 68.1 48.8 55.7 59.5 68.1 74.1 79.1 17

 18 FL763040005 Life insurance reserves 172.1 178.8 184.8 179.7 181.0 182.8 184.8 186.9 191.6 18

 19 LM763092000 U.S. direct investment abroad 250.0 303.6 327.4 234.1 272.8 288.5 327.4 341.8 362.5 19

 20 FL703090005 Miscellaneous assets 699.7 616.4 865.0 949.9 844.6 893.0 865.0 830.8 857.0 20

 21 FL704190005 Total liabilities 19503.4 20386.1 23540.7 22179.3 22994.0 23019.1 23540.7 24340.8 24526.3 21

 22 FL704110005 Net interbank liabilities 172.9 79.7 164.0 490.1 331.9 247.5 164.0 82.1 48.8 22

 23 FL703127005 Checkable deposits 2466.1 2648.7 5182.9 3178.7 3879.2 4012.3 5182.9 5511.9 5936.9 23

 24 FL703130005 Time and savings deposits 12200.5 12884.6 13679.7 13500.0 14171.0 14212.6 13679.7 14194.6 14001.5 24

 25 FL702150005 Federal funds and security repos 646.7 717.1 715.9 788.3 688.7 719.9 715.9 714.6 685.1 25

 26 FL704122005 Debt securities 288.2 248.2 303.9 284.1 285.6 287.6 303.9 318.4 317.0 26

 27 FL703169175 Open market paper 128.3 106.9 133.4 131.1 127.8 125.7 133.4 143.6 143.2 27

 28 FL763163005 Corporate bonds 160.0 141.3 170.5 152.9 157.8 161.9 170.5 174.8 173.8 28

 29 FL703169005 Loans (other loans and advances) 635.0 537.2 295.6 677.9 430.8 354.5 295.6 268.9 245.1 29

 30 FL763178003 Taxes payable (net) 109.7 124.2 113.0 107.6 109.9 112.3 113.0 96.3 94.4 30

 31 LM753192305 Foreign direct investment: intercompany debt 27.8 26.1 24.4 25.2 24.4 24.4 24.4 23.6 22.0 31

 32 FL703190005 Miscellaneous liabilities 2956.5 3120.4 3061.2 3127.5 3072.5 3047.9 3061.2 3130.2 3175.4 32

 33 FL763194735 Investment by holding companies 2140.0 2233.6 2306.3 2197.2 2225.2 2252.9 2306.3 2320.5 2386.8 33

 34 FL753194503 Investment by other financial businesses 123.1 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 34

 35 FL703193005 Other 693.4 767.2 662.9 808.0 735.8 694.0 662.9 675.5 671.9 35

 Memo:

 36 LM753192103 Foreign direct investment: equity 311.4 389.3 454.3 309.4 368.1 398.9 454.3 477.5 509.8 36

 37 FL763066303 Consumer leases not included above (2) 12.4 13.1 13.5 13.4 13.3 13.5 13.5 13.4 13.5 37

 38 FL703139105 Uninsured deposits (3) 6187.3 6716.3 8477.2 7466.2 8051.8 8116.6 8477.2 8811.1 9062.2 38

(1) U.S.-chartered depository institutions (L.111), foreign banking offices (L.112), banks in U.S.-affiliated areas (L.113), and credit unions (L.114).

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(3) Includes checkable deposits (line 23) and time and savings deposits (line 24) not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
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88 Z.1, September 23, 2021

L.111 U.S.-Chartered Depository Institutions

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL764090005 Total financial assets 15633.1 16332.9 19413.4 17648.0 18716.0 18845.0 19413.4 19910.3 20084.5 1

 2 FL763025000 Vault cash 82.0 83.4 99.2 99.0 91.9 90.0 99.2 97.5 92.3 2

 3 FL763013005 Reserves at Federal Reserve 888.4 907.3 2189.8 1476.5 1967.1 1918.0 2189.8 2619.2 2474.5 3

 4 FL762050005 Federal funds and security repos 382.8 358.5 538.3 331.3 560.3 498.1 538.3 294.3 300.2 4

 5 LM764022005 Debt securities 3760.5 4083.6 5124.6 4272.2 4588.7 4867.1 5124.6 5485.8 5741.0 5

 6 FL763069175 Open market paper 0.0 0.0 2.0 27.5 11.8 3.9 2.0 0.1 0.0 6

 7 LM763061100 Treasury securities 569.8 704.1 1044.1 724.4 926.7 1019.5 1044.1 1111.0 1195.5 7

 8 LM763061705 Agency- and GSE-backed securities 2239.3 2408.2 3061.0 2582.8 2650.3 2804.6 3061.0 3233.4 3357.0 8

 9 LM763061803 Residential mortgage pass-through securities 1394.9 1532.2 1943.3 1663.8 1678.3 1774.0 1943.3 2083.7 2170.7 9

 10 LM763061503 Commercial mortgage pass-through securities 123.7 149.1 201.9 161.1 174.0 184.2 201.9 207.5 220.6 10

 11 LM763061603 Residential CMOs and other structured MBS 417.6 427.9 547.8 448.8 478.1 499.8 547.8 554.9 554.8 11

 12 LM763061403 Commercial CMOs and other structured MBS 153.5 178.1 238.9 197.0 210.4 227.8 238.9 247.7 260.9 12

 13 LM763061795 Other 149.6 121.0 129.2 112.1 109.6 118.8 129.2 139.6 150.0 13

 14 LM763062000 Municipal securities 499.8 471.7 512.6 484.0 501.5 504.9 512.6 516.8 529.6 14

 15 LM763063005 Corporate and foreign bonds 451.6 499.7 504.8 453.4 498.5 534.3 504.8 624.6 659.0 15

 16 LM763063673 Priv. residential mortgage pass-through securities 3.6 5.3 4.6 5.6 5.5 5.1 4.6 5.5 5.4 16

 17 LM763063653 Priv. commercial mortgage pass-through securities 2.0 2.7 2.9 2.6 2.7 2.9 2.9 3.0 3.0 17

 18 LM763063663 Priv. residential CMOs and other structured MBS 32.5 34.6 39.0 36.5 39.9 39.9 39.0 40.7 42.1 18

 19 LM763063693 Priv. commercial CMOs and other structured MBS 39.0 42.3 42.6 43.1 44.0 42.7 42.6 44.3 48.1 19

 20 LM763063095 Other 374.5 414.7 415.6 365.6 406.3 443.8 415.6 531.1 560.3 20

 21 FL764023005 Loans 9427.5 9784.9 10074.9 10188.9 10257.4 10132.7 10074.9 10017.3 10041.2 21

 22 FL763068005 Depository institution loans n.e.c. 2927.8 3026.6 3361.8 3458.5 3572.8 3426.5 3361.8 3394.1 3320.3 22

 23 FL763069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL763065005 Mortgages 4817.7 4987.4 5027.5 5020.5 5040.3 5057.0 5027.5 4990.0 5019.9 24

 25 FL763066000 Consumer credit 1682.0 1771.0 1685.7 1709.9 1644.4 1649.2 1685.7 1633.2 1701.0 25

 26 LM763064105 Corporate equities 109.1 147.7 160.1 95.9 120.6 133.0 160.1 176.5 191.1 26

 27 LM763064203 Mutual fund shares 52.1 61.6 63.4 45.6 51.9 55.4 63.4 68.1 72.2 27

 28 FL763040005 Life insurance reserves 172.1 178.8 184.8 179.7 181.0 182.8 184.8 186.9 191.6 28

 29 LM763092000 U.S. direct investment abroad 250.0 303.6 327.4 234.1 272.8 288.5 327.4 341.8 362.5 29

 30 FL763090005 Miscellaneous assets 508.4 423.5 650.9 724.9 624.3 679.4 650.9 622.8 618.0 30

 31 FL764190005 Total liabilities 16163.8 16890.0 19694.9 18159.7 19138.1 19180.9 19694.9 20261.2 20480.8 31

 32 FL764110005 Net interbank liabilities 21.5 7.7 8.8 67.4 127.8 93.8 8.8 -85.0 -67.2 32

 33 FL713022003 Federal Reserve float -0.8 -0.6 -0.6 -0.7 -0.7 -1.3 -0.6 -1.1 -1.1 33

 34 FL713068715 Borrowing from Federal Reserve banks 0.1 0.0 44.2 76.6 83.0 66.1 44.2 41.1 41.7 34

 35 FL764112005 To domestic banks -6.1 -7.0 -3.4 -20.7 -7.7 -2.7 -3.4 19.8 4.5 35

 36 FL764116005 To foreign banks 28.4 15.3 -31.4 12.2 53.2 31.7 -31.4 -144.8 -112.3 36

 37 FL763127005 Checkable deposits 2053.7 2191.5 4572.8 2649.7 3303.4 3416.4 4572.8 4803.3 5236.0 37

 38 FL763123005 Federal government 1.8 1.6 2.7 1.7 1.9 2.4 2.7 2.4 4.5 38

 39 FL763128000 State and local government 132.9 139.1 229.9 142.3 167.3 178.1 229.9 248.5 296.5 39

 40 FL763129205 Private domestic 1844.7 1971.8 4278.8 2414.7 3063.7 3172.9 4278.8 4493.8 4860.5 40

 41 FL763122605 Rest of the world 74.4 78.9 61.4 91.0 70.5 63.0 61.4 58.5 74.6 41

 42 FL763130005 Time and savings deposits 10293.9 10805.4 11461.2 11430.4 11959.9 12004.0 11461.2 11865.3 11660.7 42

 43 FL762150005 Federal funds and security repos 143.1 167.0 170.9 191.1 190.5 179.0 170.9 187.5 143.1 43

 44 FL764122005 Debt securities 247.5 209.7 268.5 232.9 242.3 251.4 268.5 278.7 276.4 44

 45 FL763169175 Open market paper 87.5 68.4 98.0 80.0 84.5 89.5 98.0 103.8 102.6 45

 46 FL763163005 Corporate bonds 160.0 141.3 170.5 152.9 157.8 161.9 170.5 174.8 173.8 46

 47 FL763169305 Loans (other loans and advances) 577.3 484.9 252.3 615.1 380.3 306.8 252.3 228.6 205.9 47

 48 FL763178003 Taxes payable (net) 109.7 124.2 113.0 107.6 109.9 112.3 113.0 96.3 94.4 48

 49 FL763190005 Miscellaneous liabilities 2717.2 2899.5 2847.4 2865.5 2824.1 2817.1 2847.4 2886.6 2931.5 49

 50 FL763194735 Investment by holding companies 2140.0 2233.6 2306.3 2197.2 2225.2 2252.9 2306.3 2320.5 2386.8 50

 51 FL763193005 Other 577.2 665.9 541.2 668.3 598.9 564.3 541.2 566.1 544.8 51

 Memo:

 52 FL763066303 Consumer leases not included above (1) 12.4 13.1 13.5 13.4 13.3 13.5 13.5 13.4 13.5 52

 53 FL763139105 Uninsured deposits (2) 5081.9 5480.8 7199.3 6225.2 6732.4 6811.5 7199.3 7436.5 7691.6 53

(1) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(2) Includes checkable deposits (line 37) and time and savings deposits (line 42) not insured by the Federal Deposit Insurance Corporation.
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Z.1, September 23, 2021 89

L.112 Foreign Banking Offices in U.S. (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL754090005 Total financial assets 2051.5 2093.6 2102.7 2573.4 2227.9 2184.5 2102.7 2191.8 2225.1 1

 2 FL753025003 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FL753013003 Reserves at Federal Reserve 598.6 554.1 602.5 873.8 644.6 649.6 602.5 794.3 799.1 3

 4 FL752050005 Federal funds and security repos 319.0 379.0 323.7 327.2 302.2 336.1 323.7 272.2 276.2 4

 5 LM754022005 Debt securities 318.1 309.0 313.5 340.2 334.4 319.4 313.5 284.7 289.4 5

 6 FL753069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM753061103 Treasury securities 125.6 121.1 99.8 116.4 117.1 109.0 99.8 78.4 83.8 7

 8 LM753061703 Agency- and GSE-backed securities 42.9 53.2 60.7 59.4 59.7 56.1 60.7 61.0 58.6 8

 9 LM753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM753063005 Corporate and foreign bonds 149.7 134.7 153.0 164.4 157.7 154.3 153.0 145.3 147.0 10

 11 FL754023005 Loans 739.5 767.8 785.6 926.3 859.7 797.6 785.6 768.1 767.2 11

 12 FL753068005 Depository institution loans n.e.c. 661.9 687.4 704.7 843.7 777.7 716.2 704.7 687.8 685.8 12

 13 FL753069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL753065005 Mortgages 77.6 80.4 80.9 82.6 82.0 81.5 80.9 80.3 81.4 14

 15 FL753064103 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL753093005 Miscellaneous assets 76.2 83.7 77.5 105.9 87.0 81.7 77.5 72.4 93.2 16

 17 FL754190005 Total liabilities 1978.7 2033.9 2098.2 2491.3 2203.7 2147.9 2098.2 2205.4 2155.7 17

 18 FL754110005 Net interbank liabilities 191.1 112.6 191.8 468.0 243.5 193.5 191.8 197.4 152.7 18

 19 FL754116005 To foreign banks 178.5 108.3 184.3 461.2 234.4 190.1 184.3 183.5 144.9 19

 20 FL754112005 To domestic banks 12.7 4.4 7.5 6.8 9.1 3.4 7.5 13.9 7.8 20

 21 FL753127005 Checkable deposits 177.8 199.4 256.3 251.4 256.1 265.8 256.3 306.3 296.0 21

 22 FL753130005 Time and savings deposits 819.8 908.8 858.0 859.3 917.5 883.8 858.0 892.9 885.8 22

 23 FL752150005 Federal funds and security repos 503.6 550.0 545.0 597.2 498.2 540.9 545.0 527.1 542.0 23

 24 FL753169175 Debt securities (open market paper) 40.8 38.5 35.4 51.1 43.3 36.2 35.4 39.8 40.7 24

 25 LM753192305 Foreign direct investment: intercompany debt 27.8 26.1 24.4 25.2 24.4 24.4 24.4 23.6 22.0 25

 26 FL753190005 Miscellaneous liabilities 217.9 198.4 187.3 239.1 220.8 203.3 187.3 218.4 216.6 26

 27 FL753194503 Investment by other financial businesses 123.1 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 27

 28 FL753193005 Other 94.8 78.9 95.3 116.7 109.3 102.3 95.3 84.2 99.8 28

 Memo:

 29 LM753192103 Foreign direct investment: equity 311.4 389.3 454.3 309.4 368.1 398.9 454.3 477.5 509.8 29

 30 FL753139105 Uninsured deposits (2) 997.5 1108.2 1114.4 1110.7 1173.6 1149.6 1114.4 1199.2 1181.8 30

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) All checkable deposits (line 21) and time and savings deposits (line 22) are considered uninsured according to the Federal Deposit Insurance Act.
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L.113 Banks in U.S.-Affiliated Areas (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL744090005 Total financial assets 91.2 95.6 109.5 97.6 107.4 110.3 109.5 116.9 123.7 1

 2 FL743013003 Reserves at Federal Reserve 6.0 4.4 14.7 8.0 13.4 16.0 14.7 14.5 23.2 2

 3 LM744022003 Debt securities 19.5 33.6 41.3 34.0 38.8 39.3 41.3 43.8 42.4 3

 4 LM743061103 Treasury securities 10.2 16.6 13.8 14.7 17.6 15.1 13.8 15.3 15.5 4

 5 LM743061703 Agency- and GSE-backed securities 8.0 8.0 15.0 7.2 9.1 12.2 15.0 16.6 17.1 5

 6 LM743062003 Municipal securities 1.2 1.2 0.1 1.2 1.2 1.0 0.1 0.1 0.1 6

 7 LM743063005 Corporate and foreign bonds 0.1 7.8 12.5 10.9 10.9 10.9 12.5 11.8 9.7 7

 8 FL744023003 Loans 37.1 40.7 41.6 42.6 44.7 43.3 41.6 39.2 38.3 8

 9 FL743068005 Depository institution loans n.e.c. 13.1 18.1 18.7 20.1 21.7 20.2 18.7 17.4 17.0 9

 10 FL743065103 One-to-four-family residential mortgages 14.1 13.2 13.5 13.0 13.4 13.7 13.5 12.8 12.4 10

 11 FL743065505 Commercial mortgages 10.0 9.4 9.4 9.5 9.6 9.4 9.4 9.0 8.9 11

 12 FL743093005 Miscellaneous assets 28.5 17.0 11.9 13.1 10.5 11.8 11.9 19.4 19.8 12

 13 FL744190005 Total liabilities 81.2 86.9 101.5 89.2 98.6 102.4 101.5 108.9 116.1 13

 14 FL744110005 Net interbank liabilities -1.3 -1.6 -1.4 -2.0 -2.0 -1.5 -1.4 -1.3 -1.3 14

 15 FL743127003 Checkable deposits 40.9 45.7 56.7 46.5 54.4 56.5 56.7 61.3 68.1 15

 16 FL743130003 Time and savings deposits 38.5 39.8 42.9 41.5 42.7 43.4 42.9 46.2 47.0 16

 17 FL743193005 Miscellaneous liabilities 3.2 3.0 3.2 3.1 3.5 4.1 3.2 2.7 2.4 17

 Memo:

 18 FL743139105 Uninsured deposits (2) 29.3 33.6 44.0 34.3 40.3 43.8 44.0 46.9 54.2 18

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

(2) Includes checkable deposits (line 15) and time and savings deposits (line 16) not insured by the Federal Deposit Insurance Corporation.

L.114 Credit Unions

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

 1 FL474090005 Total financial assets 1419.1 1534.2 1823.2 1604.8 1724.8 1762.2 1823.2 1939.6 1952.1 1

 2 FL473013005 Reserves at Federal Reserve 62.9 83.0 188.0 116.0 162.0 159.7 188.0 244.6 214.8 2

 3 FL472050053 Federal funds and security repos 0.2 0.8 0.5 0.8 0.8 0.8 0.5 0.5 0.3 3

 4 LM474022005 Debt securities 201.8 221.3 311.1 235.2 267.5 290.9 311.1 374.2 380.4 4

 5 FL473069153 Open market paper 0.2 0.7 0.3 1.2 0.7 0.3 0.3 0.2 0.1 5

 6 LM473061105 Treasury securities 31.1 37.5 45.5 38.7 42.2 43.4 45.5 50.8 54.1 6

 7 LM473061705 Agency- and GSE-backed securities 155.3 165.0 239.0 174.4 201.8 222.7 239.0 293.9 296.9 7

 8 LM473062005 Municipal securities 4.8 5.5 10.1 6.3 7.4 8.6 10.1 10.9 11.5 8

 9 LM473063005 Corporate and foreign bonds 10.4 12.6 16.2 14.6 15.5 16.0 16.2 18.5 17.8 9

 10 FL474023000 Loans 1065.2 1133.6 1193.9 1143.6 1168.1 1186.6 1193.9 1198.0 1223.8 10

 11 FL473068005 Depository institution loans n.e.c. 61.0 71.0 78.7 69.7 76.4 77.6 78.7 81.7 70.5 11

 12 FL473065100 One-to-four-family residential mortgages 523.0 564.5 610.1 578.7 593.4 605.2 610.1 613.4 633.9 12

 13 FL473066000 Consumer credit 481.2 498.0 505.1 495.2 498.3 503.9 505.1 502.9 519.4 13

 14 LM473064205 Mutual fund shares 2.5 3.3 4.8 3.2 3.8 4.0 4.8 6.1 6.9 14

 15 FL473090005 Miscellaneous assets 86.5 92.2 124.8 106.0 122.8 120.1 124.8 116.2 125.9 15

 16 FL474190005 Total liabilities 1279.7 1375.4 1646.1 1439.2 1553.5 1587.9 1646.1 1765.3 1773.5 16

 17 FL474110005 Net interbank liabilities -38.4 -39.1 -35.2 -43.3 -37.4 -38.2 -35.2 -28.9 -35.3 17

 18 FL473127003 Checkable deposits 193.8 212.1 297.1 231.0 265.4 273.7 297.1 341.1 336.7 18

 19 FL473130005 Time and savings deposits 1048.3 1130.6 1317.7 1168.7 1250.9 1281.3 1317.7 1390.2 1408.0 19

 20 FL472150053 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL473169333 Loans (other loans and advances) 57.7 52.3 43.3 62.9 50.5 47.7 43.3 40.3 39.2 21

 22 FL473193005 Miscellaneous liabilities 18.3 19.4 23.3 19.9 24.1 23.3 23.3 22.6 25.0 22

 Memo:

 23 FL473139103 Uninsured deposits (1) 78.6 93.7 119.5 96.0 105.5 111.8 119.5 128.5 134.6 23

(1) Includes checkable deposits (line 18) and time and savings deposits (line 19) not insured by the National Credit Union Share Insurance Fund.
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L.115 Property-Casualty Insurance Companies

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL514090005 Total financial assets 2412.5 2687.8 2879.0 2529.4 2679.1 2758.4 2879.0 2893.7 3010.5 1

 2 FL513020005 Checkable deposits and currency 30.2 47.6 50.2 44.2 54.5 46.3 50.2 57.5 54.0 2

 3 FL513034005 Money market fund shares 22.3 24.7 34.7 24.7 32.8 30.1 34.7 38.5 32.6 3

 4 FL512051005 Security repurchase agreements 1.3 2.0 2.2 2.3 3.0 3.1 2.2 2.3 2.5 4

 5 LM514022005 Debt securities 1118.6 1192.8 1270.2 1184.1 1248.6 1270.6 1270.2 1243.6 1296.6 5

 6 FL513069105 Open market paper 9.2 9.7 8.9 11.1 13.4 13.3 8.9 9.2 10.2 6

 7 LM513061105 Treasury securities 156.8 153.4 157.5 163.1 167.4 170.7 157.5 162.7 182.9 7

 8 LM513061705 Agency- and GSE-backed securities 127.0 149.7 145.3 151.0 143.9 148.7 145.3 139.5 136.6 8

 9 LM513062005 Municipal securities 291.6 285.2 297.9 281.5 287.5 291.1 297.9 294.3 296.9 9

 10 LM513063005 Corporate and foreign bonds 534.0 594.8 660.7 577.4 636.3 646.8 660.7 637.9 669.9 10

 11 FL513065505 Loans (commercial mortgages) 20.5 22.9 24.3 23.6 23.7 23.5 24.3 24.3 25.5 11

 12 LM513064105 Corporate equities 392.1 493.9 518.6 399.8 431.7 461.9 518.6 547.0 586.4 12

 13 LM513064205 Mutual fund shares 21.3 25.8 29.7 21.8 25.6 28.0 29.7 31.0 31.9 13

 14 FL513070005 Trade receivables 186.1 192.7 210.7 201.0 212.8 224.9 210.7 218.2 224.3 14

 15 LM513092003 U.S. direct investment abroad 143.1 192.2 216.0 151.7 183.6 196.2 216.0 233.5 246.5 15

 16 FL513090005 Miscellaneous assets 477.0 493.3 522.5 476.3 462.9 473.8 522.5 497.6 510.1 16

 17 FL513092403 Equity in FHLB 0.2 0.2 0.7 0.3 0.4 0.8 0.7 0.7 0.7 17

 18 FL513076005 Policy payables (1) 308.1 318.6 322.4 319.1 321.2 324.8 322.4 330.2 336.3 18

 19 FL513093005 Other 168.7 174.5 199.3 156.9 141.3 148.2 199.3 166.7 173.1 19

 20 FL514190005 Total liabilities 1626.1 1708.9 1802.2 1715.2 1757.8 1808.5 1802.2 1859.0 1899.0 20

 21 FL512151003 Security repurchase agreements 0.2 0.2 0.2 0.2 0.3 0.3 0.2 0.3 0.3 21

 22 FL513169333 Loans (other loans and advances) 3.3 3.5 10.0 6.0 6.3 11.2 10.0 9.3 8.4 22

 23 FL513170005 Trade payables 76.8 79.5 90.5 80.8 87.1 97.4 90.5 92.7 94.4 23

 24 FL513178005 Taxes payable 13.2 12.9 13.4 15.6 15.9 12.2 13.4 15.0 12.1 24

 25 LM513192305 Foreign direct investment: intercompany debt 13.3 13.1 12.2 12.5 11.7 11.5 12.2 11.8 11.5 25

 26 FL513190005 Miscellaneous liabilities 1519.3 1599.7 1675.8 1600.1 1636.6 1675.8 1675.8 1729.9 1772.3 26

 27 FL513194733 Investment by parent companies 6.0 6.8 2.9 6.7 1.9 3.0 2.9 3.7 4.4 27

 28 FL513176005 Policy payables 1294.2 1338.2 1393.5 1345.2 1364.5 1394.8 1393.5 1427.0 1453.3 28

 29 FL513193005 Other 219.0 254.6 279.5 248.2 270.3 278.0 279.5 299.3 314.6 29

 Memo:

 30 LM513192103 Foreign direct investment: equity 148.7 195.7 227.7 153.0 176.1 188.1 227.7 238.2 260.0 30

 31 FL513200003 Securities lending (2) 5.9 6.0 5.5 5.9 6.0 6.1 5.5 6.7 8.6 31

 32 FL514090023 Financial guaranty insurers’ total assets (3) 23.5 21.8 20.9 20.8 21.1 21.0 20.9 21.6 21.0 32

 33 FL514090033 Mortgage guaranty insurers’ total assets (3) 25.5 27.2 30.1 27.1 28.7 29.2 30.1 31.0 31.7 33

 34 FL513176015 Direct reserve 1088.0 1124.9 1175.2 1131.3 1147.8 1173.5 1175.2 1203.4 1225.6 34

 35 FL513176025 Reinsured to U.S. reinsurers 147.0 152.0 159.1 152.9 156.9 163.5 159.1 163.0 166.0 35

 36 FL263176005 Reinsured to non-U.S. reinsurers 161.1 166.6 163.3 166.1 164.3 161.3 163.3 167.2 170.3 36

 37 FL263076005 Reinsured from non-U.S. reinsurers 59.2 61.3 59.1 61.0 59.8 57.8 59.1 60.6 61.7 37

(1) Policy payables due from reinsurers.

(2) Liability for securities lending collateral, included in line 29.

(3) Total nonfinancial and financial assets of financial guaranty insurers and mortgage guaranty insurers as reported in statutory financial statements, with securities reported at book/adjusted

 carrying value.
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L.116 Life Insurance Companies (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL544090005 Total financial assets 7566.4 8514.5 9420.3 8283.4 8854.3 9031.5 9420.3 9263.9 9568.0 1

 2 FL543020005 Checkable deposits and currency 90.7 94.7 127.7 143.6 148.5 132.1 127.7 121.3 140.2 2

 3 FL543034005 Money market fund shares 55.0 58.6 66.5 88.4 84.6 73.0 66.5 62.5 66.7 3

 4 FL542051075 Security repurchase agreements 2.2 6.3 8.2 9.6 8.5 10.6 8.2 7.0 7.1 4

 5 LM544022005 Debt securities 3509.2 4023.0 4431.5 3964.5 4257.3 4345.0 4431.5 4221.9 4333.3 5

 6 FL543069105 Open market paper 33.1 28.8 34.0 38.3 34.8 40.4 34.0 31.1 31.8 6

 7 LM543061105 Treasury securities 203.7 215.3 240.7 233.2 235.2 242.6 240.7 225.4 233.4 7

 8 LM543061705 Agency- and GSE-backed securities 364.9 388.4 366.4 397.5 381.9 377.4 366.4 348.9 348.2 8

 9 LM543062005 Municipal securities 190.0 215.0 234.2 214.8 222.1 227.4 234.2 231.6 234.1 9

 10 LM543063005 Corporate and foreign bonds 2717.5 3175.5 3556.2 3080.7 3383.2 3457.2 3556.2 3385.0 3485.8 10

 11 FL544023005 Loans 730.5 780.6 807.8 792.8 794.7 796.4 807.8 809.8 820.2 11

 12 FL543069005 Other loans and advances 162.4 161.4 163.1 166.2 163.8 163.9 163.1 163.8 164.7 12

 13 FL543065005 Mortgages 568.1 619.2 644.7 626.6 630.9 632.6 644.7 646.0 655.5 13

 14 LM543064105 Corporate equities 538.0 644.6 729.8 556.1 623.4 658.6 729.8 750.6 809.3 14

 15 LM543064205 Mutual fund shares 1402.5 1599.0 1702.1 1300.3 1487.1 1551.6 1702.1 1732.4 1794.2 15

 16 FL543070005 Trade receivables 101.5 108.0 130.4 112.9 120.1 124.8 130.4 130.6 133.1 16

 17 FL543040005 Life insurance reserves 250.4 257.1 262.7 258.4 260.2 261.3 262.7 260.6 264.1 17

 18 FL543050005 Pension entitlements 191.4 199.5 291.3 219.7 249.1 268.3 291.3 292.3 297.2 18

 19 LM543092073 U.S. direct investment abroad 63.3 84.4 89.8 65.7 75.2 76.6 89.8 94.0 97.8 19

 20 FL543090005 Miscellaneous assets 631.7 658.8 772.4 771.3 745.6 733.2 772.4 780.9 805.0 20

 21 FL543092473 Equity in FHLB 4.7 5.2 7.8 6.0 7.0 7.3 7.8 8.5 8.7 21

 22 FL543077073 Deferred and unpaid life ins. premiums 35.0 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 22

 23 FL543095105 Other reserves 74.3 77.6 86.4 79.6 82.4 84.2 86.4 86.3 86.8 23

 24 FL543093005 Other 517.7 539.4 641.6 646.7 618.1 604.0 641.6 647.3 671.7 24

 25 FL544190005 Total liabilities 7108.1 7653.7 8383.1 7551.4 7865.2 8031.5 8383.1 8406.4 8606.9 25

 26 FL542151073 Security repurchase agreements 24.1 17.5 18.6 25.4 21.4 25.5 18.6 15.2 15.4 26

 27 FL543169373 Loans (other loans and advances) 81.1 88.7 103.9 107.7 108.2 103.6 103.9 112.3 108.8 27

 28 FL543170005 Trade payables 186.3 199.9 288.1 219.3 247.6 266.1 288.1 288.5 290.8 28

 29 FL543140005 Life insurance reserves 2035.2 2122.4 2248.9 2122.6 2161.3 2195.6 2248.9 2237.6 2278.7 29

 30 FL543150005 Pension entitlements (2) 3175.0 3483.6 3799.6 3262.3 3470.5 3579.6 3799.6 3808.8 3920.3 30

 31 FL543178075 Taxes payable 7.7 8.1 9.0 10.6 11.8 8.3 9.0 10.2 7.7 31

 32 LM543192375 Foreign direct investment: intercompany debt 11.7 12.4 13.2 12.0 11.7 11.4 13.2 12.4 12.2 32

 33 FL543190005 Miscellaneous liabilities 1587.0 1721.2 1901.7 1791.4 1832.7 1841.5 1901.7 1921.5 1973.0 33

 34 FL543194733 Investment by parent companies 4.8 5.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 FL673090543 Funding agreements backing securities (3) 86.0 92.3 113.2 98.1 102.5 109.0 113.2 123.9 138.8 35

 36 FL543195005 Other reserves (4) 408.7 426.6 445.8 429.2 435.2 442.1 445.8 448.6 449.7 36

 37 FL593095005 Unallocated insurance contracts 788.4 845.9 885.7 810.3 843.6 857.9 885.7 886.6 909.0 37

 38 FL543193005 Other 299.1 350.5 457.0 453.7 451.2 432.6 457.0 462.4 475.4 38

 Memo:

 39 LM543192173 Foreign direct investment: equity 131.6 184.5 244.7 147.8 176.5 185.8 244.7 250.4 273.8 39

 40 FL543200073 Securities lending (5) 42.6 44.7 48.1 46.4 47.0 46.8 48.1 52.3 55.4 40

 41 FL543176015 Direct reserve 6114.9 6584.4 7099.6 6350.0 6635.9 6797.2 7099.6 7117.8 7301.0 41

 42 FL543176025 Reinsured to U.S. reinsurers 705.1 733.6 860.9 761.6 802.4 829.1 860.9 859.1 874.3 42

 43 FL543076035 Reinsured to non-U.S. reinsurers 444.4 460.6 549.1 480.0 508.4 526.9 549.1 548.4 556.5 43

 44 FL543176035 Reinsured from non-U.S. reinsurers 26.0 27.0 5.4 22.2 15.3 10.8 5.4 5.4 5.5 44

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables L.116.g and L.116.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 37.

(3) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(4) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.

(5) Liability for securities lending collateral, included in line 38.
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L.116.g Life Insurance Companies: General Accounts

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL544090075 Total financial assets 5118.4 5732.6 6361.3 5875.1 6166.7 6234.2 6361.3 6182.2 6358.0 1

 2 FL543020075 Checkable deposits and currency 59.4 67.6 90.3 114.9 117.0 98.0 90.3 84.3 102.4 2

 3 FL543034075 Money market fund shares 26.6 33.3 36.3 53.9 52.2 41.5 36.3 33.3 38.9 3

 4 FL542051075 Security repurchase agreements 2.2 6.3 8.2 9.6 8.5 10.6 8.2 7.0 7.1 4

 5 LM544022075 Debt securities 3110.6 3569.9 3917.4 3508.3 3780.8 3854.5 3917.4 3737.0 3836.4 5

 6 FL543069175 Open market paper 23.5 20.4 20.9 29.2 24.4 28.8 20.9 18.4 18.8 6

 7 LM543061175 Treasury securities 154.8 165.3 187.0 183.4 184.0 190.6 187.0 175.3 182.0 7

 8 LM543061775 Agency- and GSE-backed securities 275.2 289.8 266.9 301.0 284.0 279.6 266.9 252.5 249.4 8

 9 LM543062075 Municipal securities 181.7 204.1 221.5 203.7 210.5 215.3 221.5 219.2 221.4 9

 10 LM543063075 Corporate and foreign bonds 2475.5 2890.3 3221.1 2791.0 3077.9 3140.2 3221.1 3071.6 3164.7 10

 11 FL544023075 Loans 695.0 743.6 766.8 755.8 756.3 757.1 766.8 769.2 778.7 11

 12 FL543069075 Other loans and advances 157.8 161.4 163.1 166.2 163.8 163.9 163.1 163.8 164.7 12

 13 FL543065075 Mortgages 537.2 582.2 603.7 589.6 592.5 593.3 603.7 605.5 614.0 13

 14 LM543064175 Corporate equities 92.6 102.8 110.3 102.8 98.4 102.1 110.3 118.5 125.8 14

 15 LM543064275 Mutual fund shares 6.8 8.0 7.8 6.4 7.4 7.2 7.8 7.9 8.5 15

 16 FL543070075 Trade receivables 101.4 108.0 130.4 112.9 120.1 124.8 130.4 130.6 133.0 16

 17 FL543040075 Life insurance reserves 250.4 257.1 262.7 258.4 260.2 261.3 262.7 260.6 264.1 17

 18 FL543050075 Pension entitlements 188.5 196.3 289.8 216.9 246.8 266.5 289.8 290.9 295.6 18

 19 LM543092073 U.S. direct investment abroad 63.3 84.4 89.8 65.7 75.2 76.6 89.8 94.0 97.8 19

 20 FL543090075 Miscellaneous assets 521.6 555.2 651.3 669.6 644.1 634.0 651.3 648.8 669.7 20

 21 FL544190075 Total liabilities 4645.5 4856.4 5309.8 5130.5 5164.1 5220.6 5309.8 5308.6 5380.7 21

 22 FL542151073 Security repurchase agreements 24.1 17.5 18.6 25.4 21.4 25.5 18.6 15.2 15.4 22

 23 FL543169373 Loans (other loans and advances) 81.1 88.7 103.9 107.7 108.2 103.6 103.9 112.3 108.8 23

 24 FL543170075 Trade payables 185.3 198.8 287.5 218.3 246.7 265.3 287.5 287.8 290.2 24

 25 FL543140075 Life insurance reserves 1698.6 1744.3 1835.4 1795.8 1797.1 1816.9 1835.4 1820.7 1844.6 25

 26 FL543150075 Pension entitlements (1) 1366.2 1409.7 1510.5 1464.9 1462.6 1488.0 1510.5 1501.0 1515.5 26

 27 FL543178075 Taxes payable 7.7 8.1 9.0 10.6 11.8 8.3 9.0 10.2 7.7 27

 28 LM543192375 Foreign direct investment: intercompany debt 11.7 12.4 13.2 12.0 11.7 11.4 13.2 12.4 12.2 28

 29 FL543190075 Miscellaneous liabilities 1270.8 1377.0 1531.8 1495.7 1504.7 1501.7 1531.8 1549.0 1586.4 29

 Memo:

 30 LM543192173 Foreign direct investment: equity 131.6 184.5 244.7 147.8 176.5 185.8 244.7 250.4 273.8 30

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 29).

L.116.s Life Insurance Companies: Separate Accounts

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

 1 FL544090085 Total financial assets 2447.9 2781.9 3059.0 2408.2 2687.5 2797.4 3059.0 3081.7 3210.0 1

 2 FL543020083 Checkable deposits and currency 31.3 27.1 37.3 28.7 31.5 34.0 37.3 36.9 37.8 2

 3 FL543034385 Money market fund shares 28.4 25.2 30.2 34.5 32.5 31.4 30.2 29.2 27.7 3

 4 LM544022085 Debt securities 398.6 453.1 514.1 456.3 476.6 490.5 514.1 484.9 496.9 4

 5 FL543069183 Open market paper 9.7 8.3 13.1 9.2 10.4 11.6 13.1 12.7 13.0 5

 6 LM543061183 Treasury securities 48.8 50.0 53.7 49.7 51.2 52.0 53.7 50.1 51.4 6

 7 LM543061783 Agency- and GSE-backed securities 89.7 98.5 99.5 96.5 97.9 97.9 99.5 96.4 98.7 7

 8 LM543062083 Municipal securities 8.3 11.0 12.7 11.1 11.7 12.1 12.7 12.4 12.7 8

 9 LM543063085 Corporate and foreign bonds 242.0 285.3 335.2 289.8 305.3 317.0 335.2 313.4 321.1 9

 10 FL544023085 Loans 35.5 36.9 41.0 37.0 38.4 39.3 41.0 40.5 41.5 10

 11 FL543069483 Other loans and advances 4.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL543065083 Mortgages 30.9 36.9 41.0 37.0 38.4 39.3 41.0 40.5 41.5 12

 13 LM543064185 Corporate equities 445.4 541.8 619.5 453.3 525.0 556.6 619.5 632.0 683.5 13

 14 LM543064385 Mutual fund shares 1395.8 1590.9 1694.3 1293.9 1479.7 1544.4 1694.3 1724.5 1785.7 14

 15 FL543070085 Trade receivables 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL543040085 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FL543050085 Pension entitlements 2.8 3.2 1.4 2.8 2.3 1.9 1.4 1.5 1.5 17

 18 FL543090085 Miscellaneous assets 110.1 103.6 121.2 101.8 101.5 99.2 121.2 132.1 135.3 18

 19 FL544190085 Total liabilities 2462.6 2797.3 3073.2 2420.9 2701.0 2810.9 3073.2 3097.9 3226.1 19

 20 FL543170085 Trade payables 1.1 1.1 0.6 1.0 0.9 0.8 0.6 0.7 0.7 20

 21 LM543140085 Life insurance reserves 336.6 378.1 413.6 326.8 364.3 378.7 413.6 416.9 434.1 21

 22 LM543150085 Pension entitlements (1) 1808.8 2073.9 2289.1 1797.3 2007.9 2091.7 2289.1 2307.8 2404.8 22

 23 FL543190085 Miscellaneous liabilities 316.2 344.1 369.9 295.7 328.0 339.8 369.9 372.5 386.6 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 23).
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94 Z.1, September 23, 2021

L.117 Private and Public Pension Funds (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL594090005 Total financial assets (2) 22661.3 24485.8 25981.0 23483.9 24575.1 25129.8 25981.0 26398.3 27036.4 1

 2 FL593020005 Checkable deposits and currency 46.1 47.8 60.7 49.7 50.1 52.3 60.7 56.7 58.4 2

 3 FL593030005 Time and savings deposits 32.1 19.0 9.5 17.7 14.2 11.9 9.5 8.4 8.6 3

 4 FL593034005 Money market fund shares 218.2 200.4 247.1 224.9 232.8 242.1 247.1 254.0 260.1 4

 5 FL592051005 Security repurchase agreements 7.0 22.7 29.2 23.2 22.2 22.1 29.2 41.9 47.6 5

 6 LM594022005 Debt securities 4453.3 4714.1 5118.2 4759.9 4866.6 4950.3 5118.2 5019.3 5135.7 6

 7 FL593069105 Open market paper 89.7 45.9 43.5 49.4 44.3 44.2 43.5 50.9 51.3 7

 8 LM593061105 Treasury securities (3) 2779.3 2935.4 3206.7 3000.1 2989.5 3074.6 3206.7 3197.4 3263.6 8

 9 LM593061705 Agency- and GSE-backed securities 355.7 402.2 457.2 434.9 434.8 453.3 457.2 453.3 472.5 9

 10 LM593062045 Municipal securities 4.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM593063005 Corporate and foreign bonds 1224.5 1330.5 1410.8 1275.5 1398.0 1378.2 1410.8 1317.7 1348.3 11

 12 FL594023005 Loans 36.1 31.6 25.6 30.4 28.4 27.4 25.6 25.7 24.6 12

 13 FL313169003 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL593065005 Mortgages 36.1 31.6 25.6 30.4 28.4 27.4 25.6 25.7 24.6 14

 15 LM593064105 Corporate equities 5218.6 5909.5 6623.5 4738.7 5472.0 5912.0 6623.5 6980.3 7467.3 15

 16 LM593064205 Mutual fund shares 4041.5 4682.3 5169.3 3873.6 4455.1 4688.4 5169.3 5289.3 5574.3 16

 17 FL593090005 Miscellaneous assets 8608.3 8858.4 8697.9 9765.8 9433.8 9223.2 8697.9 8722.6 8459.7 17

 18 FL593095005 Unallocated insurance contracts (4) 788.4 845.9 885.7 810.3 843.6 857.9 885.7 886.6 909.0 18

 19 FL573074005 Contributions receivable 84.7 80.1 70.2 79.4 76.6 73.7 70.2 67.9 64.3 19

 20 FL593073005 Claims of pension fund on sponsor (5) 6771.6 6236.3 5934.5 7221.1 6735.8 6519.5 5934.5 5921.0 5603.7 20

 21 FL593093005 Other 963.6 1696.1 1807.6 1654.9 1777.7 1772.0 1807.6 1847.1 1882.7 21

 22 FL594190005 Pension entitlements (liabilities) (6) 22767.1 24645.2 26164.1 23630.3 24720.7 25275.3 26164.1 26556.7 27199.9 22

 Memo:

 Funded status of defined benefit plans:

 23 FL594190045 Pension entitlements 15591.2 16110.8 16549.9 16216.8 16327.5 16438.5 16549.9 16661.0 16771.2 23

 24 FL592000075 Funded by assets (7) 8819.6 9874.5 10615.4 8995.7 9591.7 9918.9 10615.4 10740.0 11167.5 24

 25 FL593073045 Unfunded (line 18) 6771.6 6236.3 5934.5 7221.1 6735.8 6519.5 5934.5 5921.0 5603.7 25

 26 FL153050015 Household retirement assets (8) 34452.1 38293.8 41425.7 35615.5 38147.2 39339.9 41425.7 42169.5 ND 26

 27 FL594190045 Defined benefit plans 15591.2 16110.8 16549.9 16216.8 16327.5 16438.5 16549.9 16661.0 16771.2 27

 28 FL594090055 Defined contribution plans 7175.9 8534.5 9614.2 7413.4 8393.2 8836.9 9614.2 9895.7 10428.7 28

 29 LM893131573 Individual retirement plans (IRAs) (9) 9135.0 10850.0 12210.0 9365.0 10640.0 11190.0 12210.0 12555.0 ND 29

 30 FL543150015 Annuities at life insurance companies (10) 2550.0 2798.6 3051.6 2620.3 2786.5 2874.6 3051.6 3057.8 ND 30

(1) Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(8) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(9) IRA assets are not included above. See memo items on table L.227 for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs are excluded. They are included in line 29.
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Z.1, September 23, 2021 95

L.118 Private Pension Funds (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL574090005 Total financial assets (2) 9695.8 11042.7 12024.9 10052.8 10927.2 11329.4 12024.9 12281.0 12760.5 1

 2 FL573020005 Checkable deposits and currency 16.8 24.1 32.2 26.8 28.7 30.5 32.2 32.7 34.1 2

 3 FL573030005 Time and savings deposits 30.0 14.5 7.2 13.4 11.5 9.5 7.2 5.9 6.7 3

 4 FL573034005 Money market fund shares 158.5 179.7 222.4 195.0 204.9 214.6 222.4 225.1 231.6 4

 5 FL572051005 Security repurchase agreements 2.5 15.8 21.1 16.7 18.1 19.5 21.1 21.9 23.4 5

 6 LM574022005 Debt securities 1416.1 1565.8 1723.7 1601.1 1678.3 1692.0 1723.7 1642.7 1694.6 6

 7 FL573069105 Open market paper 37.6 35.1 34.6 35.5 35.3 35.0 34.6 34.2 33.7 7

 8 LM573061105 Treasury securities 371.9 440.0 555.1 505.5 524.5 543.0 555.1 533.1 558.6 8

 9 LM573061705 Agency- and GSE-backed securities 205.0 224.1 252.3 245.9 238.0 244.8 252.3 250.2 260.3 9

 10 LM573063005 Corporate and foreign bonds 801.5 866.5 881.8 814.2 880.6 869.2 881.8 825.2 842.0 10

 11 FL573065005 Loans (mortgages) 23.8 23.2 17.8 21.5 20.3 19.0 17.8 17.4 16.4 11

 12 LM573064105 Corporate equities 2448.0 2961.8 3343.2 2286.3 2753.5 2960.6 3343.2 3532.3 3776.0 12

 13 LM573064205 Mutual fund shares 3594.6 4307.6 4723.9 3567.9 4100.2 4315.7 4723.9 4871.2 5135.7 13

 14 FL573090005 Miscellaneous assets 2005.7 1950.2 1933.5 2324.0 2111.8 2068.0 1933.5 1931.7 1842.1 14

 15 FL573095005 Unallocated insurance contracts (3) 555.8 592.0 615.2 562.6 588.0 595.3 615.2 614.5 628.6 15

 16 FL573074005 Contributions receivable 84.7 80.1 70.2 79.4 76.6 73.7 70.2 67.9 64.3 16

 17 FL573073005 Claims of pension fund on sponsor (4) 601.7 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 17

 18 FL573093005 Other 763.5 873.3 1029.2 921.9 958.6 995.0 1029.2 1042.7 1071.4 18

 19 FL574190005 Pension entitlements (liabilities) (5) 9732.4 11079.3 12061.4 10089.4 10963.7 11365.9 12061.4 12317.5 12797.0 19

 Memo:

 Funded status of defined benefit plans:

 20 FL574190043 Pension entitlements 3532.3 3660.9 3702.1 3671.7 3682.0 3692.0 3702.1 3712.1 3722.2 20

 21 FL572000075 Funded by assets (6) 2930.6 3256.1 3483.2 2911.6 3193.4 3288.1 3483.2 3505.6 3644.3 21

 22 FL573073005 Unfunded (line 17) 601.7 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 22

 Total financial assets

 23 FL574090045 Defined benefit plans (7) 3495.7 3624.4 3665.5 3635.2 3645.5 3655.5 3665.5 3675.6 3685.6 23

 24 FL574090055 Defined contribution plans (8) 6200.1 7418.4 8359.3 6417.7 7281.7 7673.9 8359.3 8605.4 9074.9 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans is available on tables L.118.b.

(8) Additional detail on defined contribution plans is available on table L.118.c.
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96 Z.1, September 23, 2021

L.118.b Private Pension Funds: Defined Benefit Plans

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL574090045 Total financial assets (1) 3495.7 3624.4 3665.5 3635.2 3645.5 3655.5 3665.5 3675.6 3685.6 1

 2 FL573020043 Checkable deposits and currency 8.9 8.9 8.5 8.8 8.7 8.6 8.5 8.5 8.4 2

 3 FL573030043 Time and savings deposits 26.0 10.2 1.5 8.7 6.4 4.1 1.5 0.1 0.7 3

 4 FL573034043 Money market fund shares 31.1 41.8 43.6 42.1 42.6 43.1 43.6 43.9 44.4 4

 5 FL572051043 Security repurchase agreements 2.5 15.8 21.1 16.7 18.1 19.5 21.1 21.9 23.4 5

 6 LM574022045 Debt securities 1000.4 1104.6 1147.2 1099.2 1140.9 1134.4 1147.2 1086.0 1112.5 6

 7 FL573069143 Open market paper 28.3 25.1 21.4 24.4 23.4 22.5 21.4 20.8 19.7 7

 8 LM573061143 Treasury securities 225.4 269.8 301.9 295.8 298.7 301.5 301.9 288.3 297.6 8

 9 LM573061743 Agency- and GSE-backed securities 126.7 133.0 121.2 138.1 122.2 121.3 121.2 119.1 121.1 9

 10 LM573063043 Corporate and foreign bonds 620.0 676.8 702.7 640.8 696.6 689.2 702.7 657.9 674.1 10

 11 FL573065043 Loans (mortgages) 14.3 14.1 13.4 14.0 13.8 13.6 13.4 13.3 13.1 11

 12 LM573064143 Corporate equities 1055.5 1210.1 1388.7 941.3 1142.0 1232.7 1388.7 1466.5 1563.3 12

 13 LM573064243 Mutual fund shares 344.9 360.9 366.2 296.8 332.6 342.3 366.2 371.8 382.7 13

 14 FL573090045 Miscellaneous assets 1012.1 858.0 675.2 1207.6 940.4 857.1 675.2 663.5 537.2 14

 15 FL573095405 Unallocated insurance contracts (2) 62.8 60.9 63.2 55.1 59.0 60.2 63.2 63.6 65.8 15

 16 FL573074043 Contributions receivable 46.8 41.4 24.1 38.3 33.8 29.2 24.1 21.3 16.4 16

 17 FL573073005 Claims of pension fund on sponsor (3) 601.7 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 17

 18 FL573093043 Other 300.8 350.9 369.0 354.2 358.9 363.7 369.0 372.0 377.1 18

 19 FL574190043 Pension entitlements (liabilities) (4) 3532.3 3660.9 3702.1 3671.7 3682.0 3692.0 3702.1 3712.1 3722.2 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.118.c Private Pension Funds: Defined Contribution Plans (1)

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

 1 FL574090055 Total financial assets 6200.1 7418.4 8359.3 6417.7 7281.7 7673.9 8359.3 8605.4 9074.9 1

 2 FL573020033 Checkable deposits and currency 7.9 15.2 23.6 18.0 19.9 21.9 23.6 24.3 25.7 2

 3 FL573030033 Time and savings deposits 4.0 4.3 5.7 4.8 5.1 5.4 5.7 5.8 6.0 3

 4 FL573034055 Money market fund shares 127.4 137.9 178.8 152.9 162.3 171.5 178.8 181.2 187.1 4

 5 FL572051033 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 LM574022035 Debt securities 415.6 461.2 576.5 501.9 537.5 557.6 576.5 556.7 582.1 6

 7 FL573069133 Open market paper 9.3 10.1 13.2 11.1 11.8 12.5 13.2 13.4 14.0 7

 8 LM573061133 Treasury securities 146.6 170.2 253.2 209.7 225.8 241.6 253.2 244.9 261.0 8

 9 LM573061733 Agency- and GSE-backed securities 78.4 91.1 131.0 107.8 115.8 123.5 131.0 131.2 139.2 9

 10 LM573063033 Corporate and foreign bonds 181.5 189.7 179.1 173.3 184.0 180.0 179.1 167.3 167.9 10

 11 FL573065033 Loans (mortgages) 9.5 9.1 4.4 7.5 6.5 5.4 4.4 4.1 3.3 11

 12 LM573064133 Corporate equities 1392.5 1751.7 1954.5 1345.0 1611.4 1727.8 1954.5 2065.7 2212.7 12

 13 LM573064255 Mutual fund shares 3249.7 3946.8 4357.7 3271.1 3767.6 3973.4 4357.7 4499.4 4753.0 13

 14 FL573090055 Miscellaneous assets 993.6 1092.2 1258.2 1116.4 1171.4 1210.9 1258.2 1268.2 1304.9 14

 15 FL573095505 Unallocated insurance contracts (2) 493.0 531.1 552.0 507.5 528.9 535.1 552.0 550.9 562.8 15

 16 FL573074033 Contributions receivable 37.9 38.7 46.0 41.1 42.8 44.5 46.0 46.6 47.8 16

 17 FL573093055 Other 462.8 522.4 660.2 567.7 599.7 631.3 660.2 670.8 694.3 17

 18 FL574090055 Pension entitlements (liabilities) 6200.1 7418.4 8359.3 6417.7 7281.7 7673.9 8359.3 8605.4 9074.9 18

(1) Includes 401(k) and 403(b) type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
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L.119 Federal Government Employee Retirement Funds

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL344090005 Total financial assets (1) 4035.5 4222.7 4424.3 4171.1 4276.0 4336.9 4424.3 4479.2 4546.8 1

 2 FL343020033 Checkable deposits and currency 0.8 0.7 0.9 0.7 0.8 0.8 0.9 0.9 0.9 2

 3 LM344022005 Debt securities 2061.7 2177.4 2326.5 2181.6 2185.0 2232.0 2326.5 2317.5 2332.4 3

 4 LM343061105 Treasury securities (2) 2039.6 2151.3 2297.4 2157.8 2158.7 2204.5 2297.4 2289.7 2304.3 4

 5 LM343061705 Agency- and GSE-backed securities 8.8 10.5 11.7 10.1 10.7 11.0 11.7 11.3 11.3 5

 6 LM343062033 Municipal securities 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM343063005 Corporate and foreign bonds 13.2 15.6 17.3 13.7 15.6 16.5 17.3 16.5 16.7 7

 8 FL313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 LM343064105 Corporate equities 292.1 370.7 418.4 277.9 342.5 366.0 418.4 448.9 487.0 9

 10 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1681.0 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 10

 11 FL344090005 Pension entitlements (liabilities) (5) 4035.5 4222.7 4424.3 4171.1 4276.0 4336.9 4424.3 4479.2 4546.8 11

 Memo:

 Funded status of defined benefit plans:

 12 FL344090045 Pension entitlements 3476.8 3583.4 3689.7 3606.1 3633.8 3661.4 3689.7 3717.6 3744.6 12

 13 FL342000075 Funded by assets (6) 1795.8 1909.5 2011.1 1895.3 1886.1 1923.4 2011.1 2005.7 2018.2 13

 14 FL343073045 Unfunded (line 10) 1681.0 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 14

 Total financial assets

 15 FL344090045 Defined benefit plans (7) 3476.8 3583.4 3689.7 3606.1 3633.8 3661.4 3689.7 3717.6 3744.6 15

 16 FL344090055 Defined contribution plans (8) 558.7 639.3 734.6 565.0 642.2 675.5 734.6 761.5 802.2 16

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of projected pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans is available on table L.119.b.

(8) Additional detail on defined contribution plans is available on table L.119.c.
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L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL344090045 Total financial assets (2) 3476.8 3583.4 3689.7 3606.1 3633.8 3661.4 3689.7 3717.6 3744.6 1

 2 FL343020033 Checkable deposits and currency 0.8 0.7 0.9 0.7 0.8 0.8 0.9 0.9 0.9 2

 3 LM344022045 Debt securities 1780.9 1893.4 1994.6 1881.9 1871.6 1907.7 1994.6 1988.7 2000.6 3

 4 LM343061165 Treasury securities (3) 1775.8 1887.7 1989.3 1877.1 1866.5 1902.7 1989.3 1983.1 1994.9 4

 5 LM343061733 Agency- and GSE-backed securities 0.9 1.1 0.8 0.9 1.0 0.8 0.8 0.9 0.9 5

 6 LM343062033 Municipal securities 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM343063033 Corporate and foreign bonds 4.1 4.7 4.5 3.8 4.1 4.2 4.5 4.6 4.8 7

 8 LM343064135 Corporate equities 14.1 15.4 15.6 12.7 13.7 14.8 15.6 16.2 16.6 8

 9 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1681.0 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 9

 10 FL344190045 Pension entitlements (liabilities) (5) 3476.8 3583.4 3689.7 3606.1 3633.8 3661.4 3689.7 3717.6 3744.6 10

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Comprised primarily of nonmarketable Treasury securities.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 FL344090055 Total financial assets 558.7 639.3 734.6 565.0 642.2 675.5 734.6 761.5 802.2 1

 2 LM344022025 Debt securities 280.8 283.9 331.8 299.7 313.3 324.3 331.8 328.8 331.7 2

 3 LM343061155 Treasury securities (2) 263.8 263.6 308.2 280.7 292.2 301.9 308.2 306.6 309.3 3

 4 LM343061723 Agency- and GSE-backed securities 7.9 9.4 10.9 9.2 9.7 10.2 10.9 10.4 10.4 4

 5 LM343063023 Corporate and foreign bonds 9.1 10.9 12.8 9.8 11.4 12.2 12.8 11.8 12.0 5

 6 FL313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM343064125 Corporate equities 277.9 355.3 402.8 265.2 328.9 351.2 402.8 432.7 470.4 7

 8 FL344090055 Pension entitlements (liabilities) 558.7 639.3 734.6 565.0 642.2 675.5 734.6 761.5 802.2 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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L.120 State and Local Government Employee Retirement Funds

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL224090005 Total financial assets (1) 8930.0 9220.4 9531.8 9260.0 9371.9 9463.4 9531.8 9638.2 9729.1 1

 2 FL223020043 Checkable deposits and currency 28.6 23.0 27.7 22.1 20.6 21.0 27.7 23.1 23.4 2

 3 FL223030043 Time and savings deposits 2.2 4.5 2.3 4.2 2.8 2.4 2.3 2.5 1.9 3

 4 FL223034005 Money market fund shares 59.7 20.7 24.8 29.9 27.9 27.5 24.8 28.9 28.5 4

 5 FL222051043 Security repurchase agreements 4.5 7.0 8.1 6.5 4.0 2.6 8.1 20.0 24.1 5

 6 LM224022045 Debt securities 975.6 970.9 1068.0 977.2 1003.3 1026.3 1068.0 1059.1 1108.8 6

 7 FL223069143 Open market paper 52.1 10.8 8.9 13.9 9.1 9.2 8.9 16.7 17.6 7

 8 LM223061143 Treasury securities 367.9 344.2 354.2 336.8 306.3 327.0 354.2 374.6 400.7 8

 9 LM223061743 Agency- and GSE-backed securities 141.8 167.6 193.2 178.9 186.1 197.4 193.2 191.8 200.9 9

 10 LM223062043 Municipal securities 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM223063045 Corporate and foreign bonds 409.8 448.4 511.7 447.6 501.8 492.6 511.7 476.0 489.6 11

 12 FL223065043 Loans (mortgages) 12.3 8.4 7.8 8.9 8.1 8.4 7.8 8.4 8.2 12

 13 LM223064145 Corporate equities 2478.6 2576.9 2861.9 2174.5 2376.0 2585.5 2861.9 2999.1 3204.2 13

 14 LM223064205 Mutual fund shares 446.9 374.6 445.4 305.7 354.9 372.7 445.4 418.1 438.6 14

 15 FL223090005 Miscellaneous assets 4921.6 5234.3 5085.9 5731.0 5574.3 5417.1 5085.9 5079.1 4891.2 15

 16 FL223095505 Unallocated insurance contracts (2) 232.6 253.9 270.6 247.7 255.7 262.6 270.6 272.1 280.5 16

 17 FL223073045 Claims of pension fund on sponsor (3) 4488.9 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 4002.6 3799.4 17

 18 FL223093005 Other 200.1 822.8 778.3 733.1 819.1 777.0 778.3 804.4 811.3 18

 19 FL224190005 Pension entitlements (liabilities) (4) 8999.3 9343.2 9678.4 9369.8 9481.0 9572.5 9678.4 9760.0 9856.1 19

 Memo:

 Funded status of defined benefit plans:

 20 FL224190043 Pension entitlements 8582.1 8866.4 9158.1 8939.0 9011.7 9085.0 9158.1 9231.3 9304.4 20

 21 FL222000075 Funded by assets (5) 4093.2 4708.8 5121.1 4188.8 4512.2 4707.5 5121.1 5228.7 5505.0 21

 22 FL223073045 Unfunded (line 17) 4488.9 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 4002.6 3799.4 22

 Total financial assets

 23 FL224090045 Defined benefit plans (6) 8512.9 8743.6 9011.6 8829.1 8902.5 8976.0 9011.6 9109.4 9177.4 23

 24 FL224090055 Defined contribution plans (7) 417.1 476.8 520.2 430.8 469.3 487.4 520.2 528.7 551.7 24

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of projected pension entitlements. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans is available on table L.120.b.

(7) Additional detail on defined contribution plans is available on table L.120.c.
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L.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL224090045 Total financial assets (1) 8512.9 8743.6 9011.6 8829.1 8902.5 8976.0 9011.6 9109.4 9177.4 1

 2 FL223020043 Checkable deposits and currency 28.6 23.0 27.7 22.1 20.6 21.0 27.7 23.1 23.4 2

 3 FL223030043 Time and savings deposits 2.2 4.5 2.3 4.2 2.8 2.4 2.3 2.5 1.9 3

 4 FL223034043 Money market fund shares 57.2 18.2 22.1 27.0 25.0 24.6 22.1 26.3 26.1 4

 5 FL222051043 Security repurchase agreements 4.5 7.0 8.1 6.5 4.0 2.6 8.1 20.0 24.1 5

 6 LM224022045 Debt securities 975.6 970.9 1068.0 977.2 1003.3 1026.3 1068.0 1059.1 1108.8 6

 7 FL223069143 Open market paper 52.1 10.8 8.9 13.9 9.1 9.2 8.9 16.7 17.6 7

 8 LM223061143 Treasury securities 367.9 344.2 354.2 336.8 306.3 327.0 354.2 374.6 400.7 8

 9 LM223061743 Agency- and GSE-backed securities 141.8 167.6 193.2 178.9 186.1 197.4 193.2 191.8 200.9 9

 10 LM223062043 Municipal securities 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM223063045 Corporate and foreign bonds 409.8 448.4 511.7 447.6 501.8 492.6 511.7 476.0 489.6 11

 12 FL223065043 Loans (mortgages) 12.3 8.4 7.8 8.9 8.1 8.4 7.8 8.4 8.2 12

 13 LM223064145 Corporate equities 2478.6 2576.9 2861.9 2174.5 2376.0 2585.5 2861.9 2999.1 3204.2 13

 14 LM223064243 Mutual fund shares 270.5 160.1 204.4 131.3 150.1 156.6 204.4 170.0 175.9 14

 15 FL223090045 Miscellaneous assets 4683.4 4974.6 4809.3 5477.5 5312.7 5148.6 4809.3 4800.9 4604.7 15

 16 FL223073045 Claims of pension fund on sponsor (2) 4488.9 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 4002.6 3799.4 16

 17 LM223093043 Other 194.5 817.0 772.3 727.2 813.2 771.1 772.3 798.4 805.2 17

 18 FL224190043 Pension entitlements (liabilities) (3) 8582.1 8866.4 9158.1 8939.0 9011.7 9085.0 9158.1 9231.3 9304.4 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

L.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 FL224090055 Total financial assets 417.1 476.8 520.2 430.8 469.3 487.4 520.2 528.7 551.7 1

 2 FL223034055 Money market fund shares 2.6 2.6 2.7 2.9 2.9 2.9 2.7 2.6 2.4 2

 3 LM223064255 Mutual fund shares 176.4 214.6 241.0 174.4 204.8 216.0 241.0 248.0 262.7 3

 4 FL223090055 Miscellaneous assets 238.2 259.7 276.6 253.6 261.6 268.5 276.6 278.1 286.6 4

 5 FL223095505 Unallocated insurance contracts (misc. assets) (2) 232.6 253.9 270.6 247.7 255.7 262.6 270.6 272.1 280.5 5

 6 FL223093053 Other 5.6 5.8 6.0 5.8 5.9 5.9 6.0 6.1 6.1 6

 7 FL224090055 Pension entitlements (liabilities) 417.1 476.8 520.2 430.8 469.3 487.4 520.2 528.7 551.7 7

(1) Includes 403(b) and 457 type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
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L.121 Money Market Funds (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL634090005 Total financial assets 3038.3 3634.3 4335.6 4338.0 4635.9 4410.1 4335.6 4500.4 4539.3 1

 2 FL633091003 Foreign deposits 1.5 7.4 0.7 3.8 2.1 0.9 0.7 2.2 0.3 2

 3 FL633020000 Checkable deposits and currency -43.7 1.2 -7.8 -25.8 -45.1 -74.0 -7.8 -53.5 -71.1 3

 4 FL633030000 Time and savings deposits 190.6 258.8 140.6 239.4 215.4 180.2 140.6 184.7 148.8 4

 5 FL632051000 Security repurchase agreements 1019.5 1175.1 1006.3 1468.4 906.1 997.2 1006.3 1055.8 1585.6 5

 6 FL634022005 Debt securities 1862.3 2181.3 3185.3 2568.7 3544.2 3290.6 3185.3 3234.3 2864.5 6

 7 FL633069175 Open market paper 193.7 237.2 173.4 225.4 219.0 177.9 173.4 182.8 146.8 7

 8 FL633061105 Treasury securities 873.5 1036.5 2256.4 1267.8 2349.8 2275.2 2256.4 2362.5 2107.1 8

 9 FL633061700 Agency- and GSE-backed securities 644.9 755.1 630.3 931.1 826.2 699.8 630.3 572.7 499.4 9

 10 FL633062000 Municipal securities 142.8 134.0 112.6 130.7 136.5 121.4 112.6 103.8 99.2 10

 11 FL633063005 Corporate and foreign bonds 7.5 18.5 12.6 13.8 12.7 16.3 12.6 12.5 12.0 11

 12 FL633093005 Miscellaneous assets 8.1 10.5 10.5 83.5 13.2 15.2 10.5 76.9 11.2 12

 13 FL634090005 Total shares outstanding (liabilities) 3038.3 3634.3 4335.6 4338.0 4635.9 4410.1 4335.6 4500.4 4539.3 13

 Memo:

 14 FL634090503 Variable annuity money market funds included above 38.3 35.3 40.8 46.6 44.6 43.5 40.8 39.2 36.6 14

(1) Open-end investment companies including variable annuity money market funds.

L.122 Mutual Funds (1)

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

 1 LM654090000 Total financial assets 14669.8 17659.5 19562.6 14543.1 16776.1 17749.3 19562.6 20271.3 21459.7 1

 2 FL652051003 Security repurchase agreements 81.7 102.8 108.2 107.3 104.1 96.7 108.2 114.6 117.3 2

 3 LM654022005 Debt securities 4557.2 5216.2 5681.7 4861.5 5158.6 5460.7 5681.7 5736.3 5904.0 3

 4 FL653069100 Open market paper 81.7 102.8 108.2 107.3 104.1 96.7 108.2 114.6 117.3 4

 5 LM653061105 Treasury securities 1146.4 1310.9 1293.6 1114.1 1206.8 1253.7 1293.6 1299.7 1329.9 5

 6 LM653061703 Agency- and GSE-backed securities 603.6 654.0 696.6 682.8 553.4 663.0 696.6 699.8 713.1 6

 7 LM653062003 Municipal securities 693.6 831.0 891.3 786.2 814.7 857.5 891.3 913.3 952.4 7

 8 LM653063005 Corporate and foreign bonds 2032.0 2317.5 2692.1 2171.0 2479.6 2589.9 2692.1 2709.0 2791.3 8

 9 FL653069803 Loans (other loans and advances) 147.9 114.2 85.2 84.2 84.1 83.4 85.2 100.5 116.9 9

 10 LM653064100 Corporate equities 9657.5 11934.5 13391.1 9203.8 11129.4 11843.4 13391.1 13977.9 14934.2 10

 11 FL653093005 Miscellaneous assets 225.7 291.8 296.4 286.4 299.9 265.1 296.4 342.0 387.3 11

 12 LM654090000 Total shares outstanding (liabilities) 14669.8 17659.5 19562.6 14543.1 16776.1 17749.3 19562.6 20271.3 21459.7 12

 Memo:

 13 LM654090500 Variable annuity mutual funds included above 1590.5 1815.9 1942.9 1472.3 1690.4 1767.9 1942.9 1979.2 2056.1 13

 Total financial assets by investment objective:

 14 LM654091600 Domestic equity funds 6800.1 8438.8 9523.9 6563.1 7944.7 8466.0 9523.9 10033.5 10713.5 14

 15 LM654092603 World equity funds 2427.5 2936.8 3204.5 2257.3 2663.5 2811.2 3204.5 3258.2 3469.2 15

 16 LM654091403 Hybrid funds 1384.0 1579.1 1620.0 1305.0 1449.9 1503.7 1620.0 1677.9 1764.2 16

 17 LM654091303 Taxable bond funds 3385.6 3890.2 4337.5 3644.0 3911.8 4126.3 4337.5 4399.3 4571.2 17

 18 LM654091203 Municipal bond funds 675.5 814.1 876.6 773.3 805.7 841.6 876.6 902.6 941.6 18

(1) Open-end investment companies including variable annuity mutual funds.
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L.123 Closed-End Funds

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 LM554090005 Total financial assets 252.2 278.7 281.8 231.4 254.4 262.2 281.8 293.5 305.2 1

 2 LM554022005 Debt securities 161.0 171.5 176.0 151.8 162.2 166.4 176.0 178.5 182.5 2

 3 LM553061103 Treasury securities 3.5 3.2 3.0 2.7 2.8 2.9 3.0 3.0 3.1 3

 4 LM553062003 Municipal securities 88.4 93.2 95.2 89.6 91.8 93.2 95.2 95.3 97.0 4

 5 LM553063003 Corporate and foreign bonds 69.2 75.1 77.8 59.5 67.6 70.3 77.8 80.3 82.4 5

 6 LM553064103 Corporate equities 91.2 107.2 105.9 79.7 92.2 95.7 105.9 115.0 122.7 6

 7 LM554090005 Total shares outstanding (liabilities) 252.2 278.7 281.8 231.4 254.4 262.2 281.8 293.5 305.2 7

 Memo:

 Total financial assets by investment objective:

 8 LM554091603 Domestic equity funds 67.9 79.3 76.6 58.9 67.7 69.7 76.6 85.1 91.0 8

 9 LM554092603 World equity funds 23.3 27.9 29.3 20.7 24.5 26.0 29.3 29.8 31.7 9

 10 LM554091303 Domestic taxable bond funds 53.0 57.2 59.4 45.1 50.9 53.1 59.4 59.6 61.3 10

 11 LM554091203 Municipal bond funds 88.4 93.2 95.2 89.6 91.8 93.2 95.2 95.3 97.0 11

 12 LM554092303 World bond funds 19.6 21.1 21.4 17.1 19.5 20.1 21.4 23.6 24.2 12

L.124 Exchange-Traded Funds

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

 1 LM564090005 Total financial assets 3371.2 4396.2 5449.4 3639.7 4355.7 4725.2 5449.4 5909.8 6491.3 1

 2 LM564022005 Debt securities 636.1 825.0 1065.5 830.5 944.1 1007.1 1065.5 1079.9 1156.7 2

 3 LM563061103 Treasury securities 178.7 231.8 276.4 262.9 271.3 276.3 276.4 279.8 298.4 3

 4 LM563062003 Municipal securities 37.0 49.3 64.5 49.3 54.3 58.3 64.5 69.2 76.0 4

 5 LM563063003 Corporate and foreign bonds 420.5 544.0 724.6 518.3 618.5 672.5 724.6 730.9 782.3 5

 6 LM563064100 Corporate equities 2669.2 3486.2 4233.6 2715.2 3283.8 3566.3 4233.6 4697.0 5189.6 6

 7 LM563093003 Miscellaneous assets (1) 65.9 84.9 150.3 94.0 127.8 151.9 150.3 132.8 145.0 7

 8 LM564090005 Total shares outstanding (liabilities) 3371.2 4396.2 5449.4 3639.7 4355.7 4725.2 5449.4 5909.8 6491.3 8

 Memo:

 Total financial assets by investment objective:

 9 LM564091600 Domestic equity funds 1938.6 2583.5 3182.6 2035.7 2502.5 2709.3 3182.6 3543.8 3930.2 9

 10 LM564092603 World equity funds 725.4 883.9 1028.7 664.2 764.1 837.9 1028.7 1130.3 1234.1 10

 11 LM563093003 Commodity funds (1) 65.9 84.9 150.3 94.0 127.8 151.9 150.3 132.8 145.0 11

 12 LM564091403 Hybrid funds 8.7 30.1 34.5 25.2 27.9 30.4 34.5 34.4 37.9 12

 13 LM564091303 Taxable bond funds 595.7 764.8 989.1 771.5 879.3 937.6 989.1 999.5 1068.4 13

 14 LM564091203 Municipal bond funds 36.9 49.0 64.2 49.1 54.1 58.1 64.2 68.9 75.7 14

(1) Investments primarily in commodities, currencies, and futures.
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L.125 Government-Sponsored Enterprises (GSEs) (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL404090005 Total financial assets 6926.9 7130.0 7729.5 7454.5 7424.7 7523.1 7729.5 7879.0 8032.5 1

 2 FL403020005 Checkable deposits and currency 36.8 34.6 92.5 142.0 71.1 57.6 92.5 153.9 68.6 2

 3 FL403030005 Time and savings deposits 20.2 15.8 8.8 16.0 13.3 8.5 8.8 7.2 6.3 3

 4 FL402050005 Federal funds and security repos 170.6 195.2 212.5 153.9 225.0 206.9 212.5 146.8 256.8 4

 5 LM404022005 Debt securities 408.3 467.7 520.1 484.2 547.9 557.0 520.1 471.9 450.5 5

 6 FL403069105 Open market paper 6.9 7.1 7.3 8.2 7.5 6.2 7.3 7.0 5.4 6

 7 LM403061105 Treasury securities 120.0 175.8 259.2 194.5 257.0 279.1 259.2 224.9 210.9 7

 8 LM403061705 Agency- and GSE-backed securities 258.0 265.1 237.3 263.8 265.4 254.5 237.3 224.4 218.9 8

 9 LM403062005 Municipal securities 3.9 3.3 2.8 3.2 3.0 3.0 2.8 2.7 2.6 9

 10 LM403063005 Corporate and foreign bonds 19.5 16.5 13.5 14.5 14.9 14.3 13.5 13.0 12.7 10

 11 FL404023005 Loans 6195.6 6289.3 6706.0 6508.2 6397.4 6506.5 6706.0 6899.9 7075.7 11

 12 FL403069305 Other loans and advances 861.9 778.6 563.5 941.1 691.6 615.3 563.5 547.4 515.4 12

 13 FL403069385 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL403069345 Farm Credit System 132.4 139.7 153.2 143.9 144.0 144.8 153.2 156.5 152.8 14

 15 FL403069330 FHLB 729.5 638.9 410.3 797.2 547.7 470.4 410.3 390.9 362.6 15

 16 FL403065005 Mortgages 5333.8 5510.7 6142.5 5567.1 5705.8 5891.3 6142.5 6352.5 6560.3 16

 17 FL403065105 One-to-four-family residential 4883.9 5016.1 5585.0 5066.1 5182.4 5361.3 5585.0 5786.6 5995.3 17

 18 FL403065195 Consolidated trusts (2) 4620.8 4771.9 5303.8 4809.9 4907.9 5076.6 5303.8 5499.1 5772.0 18

 19 FL403065185 Other 263.1 244.1 281.2 256.2 274.5 284.7 281.2 287.5 223.2 19

 20 FL403065405 Multifamily residential 332.9 364.0 419.4 368.6 388.9 393.7 419.4 426.8 424.4 20

 21 FL403065495 Consolidated trusts (2) 295.3 332.7 384.6 340.7 354.4 364.8 384.6 401.0 405.6 21

 22 FL403065485 Other 37.5 31.4 34.9 27.9 34.5 28.9 34.9 25.7 18.8 22

 23 FL403065605 Farm 117.0 130.6 138.0 132.4 134.4 136.2 138.0 139.1 140.6 23

 24 FL403066005 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FL403093005 Miscellaneous assets 95.3 127.3 189.7 150.2 170.0 186.5 189.7 199.3 174.6 25

 26 FL404190005 Total liabilities 6909.2 7116.5 7758.3 7446.8 7423.8 7534.0 7758.3 7896.0 8042.9 26

 27 FL402150005 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 27

 28 FL403161705 Debt securities (GSE issues) (3) 6797.3 7002.2 7638.1 7318.1 7305.1 7417.7 7638.1 7775.1 7928.1 28

 29 FL403161795 Consolidated trusts (2) 4916.1 5104.6 5688.3 5150.6 5262.3 5441.4 5688.3 5900.1 6177.6 29

 30 FL403161785 Other 1881.2 1897.6 1949.8 2167.5 2042.8 1976.3 1949.8 1875.0 1750.4 30

 31 FL403169283 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FL403190005 Miscellaneous liabilities 111.9 114.3 120.2 128.7 118.6 116.3 120.2 120.7 114.9 32

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (L.126) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets (L.125).

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Such issues are classified as agency- and GSE-backed securities.

L.126 Agency- and GSE-Backed Mortgage Pools (1)

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

 1 FL413065005 Total financial assets 2292.3 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 1

 2 FL413065105 One-to-four-family residential mortgages 1948.7 2024.8 2009.0 2045.7 2030.9 2023.5 2009.0 1996.4 2012.1 2

 3 FL413065405 Multifamily residential mortgages 342.1 380.2 418.4 383.0 385.7 403.9 418.4 434.1 446.7 3

 4 FL413065505 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL413065605 Farm mortgages 1.5 1.1 0.9 1.1 1.0 1.0 0.9 0.8 0.9 5

 6 FL413065005 Total pool securities (liabilities) (2) 2292.3 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 6

(1) Ginnie Mae, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (L.126) are consolidated

 on Fannie Mae’s and Freddie Mac’s balance sheets (table L.125). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed

 CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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L.127 Issuers of Asset-Backed Securities (ABS)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL674090005 Total financial assets 1120.9 1180.7 1225.2 1233.6 1221.8 1220.8 1225.2 1229.4 1249.0 1

 2 FL674022005 Debt securities 20.4 33.0 30.3 32.0 30.6 29.5 30.3 28.6 27.4 2

 3 FL673061103 Treasury securities 20.4 33.0 30.3 32.0 30.6 29.5 30.3 28.6 27.4 3

 4 FL673061703 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL674023005 Loans 980.5 1020.8 1047.0 1066.5 1053.2 1049.6 1047.0 1043.5 1047.4 5

 6 FL673069005 Other loans and advances (2) 123.7 161.7 207.7 186.5 188.7 195.4 207.7 210.0 219.0 6

 7 FL673065005 Mortgages (3) 851.2 856.0 837.4 877.2 862.0 852.0 837.4 831.6 826.7 7

 8 FL673065105 One-to-four-family residential 467.6 452.5 414.9 461.2 449.0 436.7 414.9 399.8 388.7 8

 9 FL673065405 Multifamily residential 43.8 46.3 51.3 53.0 53.2 52.2 51.3 52.7 53.2 9

 10 FL673065505 Commercial 339.8 357.2 371.2 363.0 359.8 363.1 371.2 379.1 384.8 10

 11 FL673066000 Consumer credit 5.5 3.1 1.9 2.8 2.5 2.2 1.9 1.9 1.7 11

 12 FL673070003 Trade credit 33.9 34.6 34.8 36.9 35.5 32.6 34.8 33.5 35.3 12

 13 FL673090543 Miscellaneous assets (funding agreements) (4) 86.0 92.3 113.2 98.1 102.5 109.0 113.2 123.9 138.8 13

 14 FL674122005 Total liabilities 1120.9 1180.7 1225.2 1233.6 1221.8 1220.8 1225.2 1229.4 1249.0 14

 15 FL674122005 Debt securities 1120.9 1180.7 1225.2 1233.6 1221.8 1220.8 1225.2 1229.4 1249.0 15

 16 FL673169105 Commercial paper 80.9 75.9 89.5 80.7 86.7 87.8 89.5 84.2 82.1 16

 17 FL673163005 Corporate bonds (net) (5) 1040.0 1104.7 1135.7 1152.9 1135.1 1133.0 1135.7 1145.2 1166.8 17

 Memo:

 Securitized assets not included above

 18 FL675013263 Consumer leases (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FL643065045 REIT assets (7) 122.8 152.0 141.2 131.9 137.9 141.4 141.2 138.0 148.6 19

 Securitized liabilities not included above

 20 FL763169103 Commercial paper (8) 87.5 68.4 98.0 80.0 84.5 89.5 98.0 103.8 102.6 20

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Includes loans backing domestically-issued collateralized loan obligation (CLO) securities; loans backing U.S. CLO securities issued outside the U.S. are shown in line 15 of table L.133.

(3) Mortgages backing privately issued pool securities and privately issued CMOs.

(4) Funding agreements with life insurance companies.

(5) Liabilities net of assets.

(6) Receivables from operating leases, such as consumer automobile leases, are 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.

(7) Included on table L.129.

(8) Included on table L.111 line 44.
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L.128 Finance Companies (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL614090005 Total financial assets 1490.1 1536.8 1606.6 1495.5 1539.0 1543.2 1606.6 1644.0 1700.8 1

 2 FL613020003 Checkable deposits and currency 14.3 12.2 16.4 16.5 20.7 17.0 16.4 16.7 16.7 2

 3 FL613030003 Time and savings deposits 42.8 36.7 49.3 49.5 62.2 51.1 49.3 50.2 50.1 3

 4 LM613063003 Debt securities (corporate and foreign bonds) 55.3 60.0 73.6 58.8 68.2 69.9 73.6 70.8 81.1 4

 5 FL614023005 Loans 1046.2 1041.6 1031.7 1043.8 1021.2 1029.0 1031.7 1042.7 1061.1 5

 6 FL613069505 Other loans and advances 397.1 386.7 370.3 400.0 373.1 372.4 370.3 373.6 381.8 6

 7 FL613065000 Mortgages 114.8 117.2 110.0 115.3 111.8 107.9 110.0 108.6 107.0 7

 8 FL613066005 Consumer credit 534.4 537.7 551.4 528.5 536.4 548.6 551.4 560.5 572.3 8

 9 LM613092003 U.S. direct investment abroad 277.2 334.7 372.6 268.7 305.8 320.7 372.6 411.7 434.4 9

 10 FL613090005 Miscellaneous assets 54.4 51.5 63.1 58.2 60.8 55.6 63.1 51.8 57.3 10

 11 FL614190005 Total liabilities 1319.4 1286.4 1307.3 1325.5 1326.2 1301.7 1307.3 1307.3 1342.2 11

 12 FL614122005 Debt securities 879.2 835.4 815.2 859.4 849.0 816.4 815.2 809.1 814.7 12

 13 FL613169100 Open market paper 64.6 63.5 41.8 61.7 50.8 42.5 41.8 41.7 41.0 13

 14 FL613163005 Corporate bonds 814.6 771.8 773.4 797.6 798.2 774.0 773.4 767.5 773.7 14

 15 FL614123005 Loans 147.7 153.6 178.4 160.6 167.1 175.2 178.4 175.4 216.2 15

 16 FL613168005 Depository institution loans n.e.c. 147.1 152.7 177.9 159.6 166.5 174.5 177.9 175.3 216.1 16

 17 FL613169005 Other loans and advances 0.6 1.0 0.5 0.9 0.6 0.7 0.5 0.1 0.1 17

 18 FL613178005 Taxes payable 15.3 14.9 14.4 15.0 15.2 14.4 14.4 14.9 14.0 18

 19 LM613192305 Foreign direct investment: intercompany debt 9.1 9.6 9.4 9.4 9.3 9.5 9.4 9.4 9.2 19

 20 FL613190005 Miscellaneous liabilities 268.1 272.9 289.9 281.2 285.7 286.2 289.9 298.4 288.2 20

 21 FL613194003 Investment by parent 128.2 122.7 117.7 120.6 116.8 113.1 117.7 117.0 106.7 21

 22 FL613193005 Other 140.0 150.2 172.2 160.6 168.8 173.2 172.2 181.4 181.5 22

 Memo:

 23 LM613192103 Foreign direct investment: equity 102.1 142.7 174.9 115.8 139.7 154.6 174.9 189.6 207.0 23

 24 FL613066303 Consumer leases not included above (2) 193.9 191.5 182.1 189.0 183.7 182.1 182.1 182.8 184.0 24

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (5), table L.127.
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L.129 Real Estate Investment Trusts (REITs) (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL644090005 Total financial assets 820.8 898.1 757.2 780.0 758.4 751.6 757.2 765.6 778.8 1

 2 FL643020005 Checkable deposits and currency 36.0 44.9 62.0 85.0 79.5 68.0 62.0 61.0 62.7 2

 3 LM644022005 Debt securities 324.5 386.7 236.7 246.3 241.7 234.7 236.7 223.6 216.3 3

 4 LM643061773 Agency- and GSE-backed securities 273.7 334.5 208.5 210.5 209.9 206.6 208.5 197.5 187.6 4

 5 LM643063005 Corporate and foreign bonds 50.8 52.2 28.2 35.8 31.8 28.1 28.2 26.1 28.7 5

 6 FL643065005 Loans (mortgages) 255.0 273.9 259.2 250.8 248.0 260.1 259.2 265.7 281.6 6

 7 FL643065105 One-to-four-family residential 72.8 76.0 51.7 53.9 48.8 52.8 51.7 54.5 60.4 7

 8 FL643065405 Multifamily residential 7.7 15.0 11.0 9.2 9.0 10.0 11.0 12.0 13.7 8

 9 FL643065505 Commercial 174.5 182.8 196.5 187.8 190.2 197.4 196.5 199.2 207.5 9

 10 FL643090005 Miscellaneous assets 205.3 192.6 199.2 197.8 189.3 188.7 199.2 215.3 218.3 10

 11 FL644190005 Total liabilities 1170.4 1329.5 1218.6 1235.3 1210.5 1204.2 1218.6 1220.3 1235.1 11

 12 FL642151073 Security repurchase agreements 307.6 379.3 221.7 259.8 229.8 220.3 221.7 218.4 210.8 12

 13 FL644122005 Debt securities 470.0 539.3 581.5 529.9 566.2 574.6 581.5 587.7 611.4 13

 14 FL643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL643163005 Corporate bonds 470.0 539.3 581.5 529.9 566.2 574.6 581.5 587.7 611.4 15

 16 FL644123005 Loans 275.2 263.2 255.6 299.2 265.7 253.8 255.6 250.2 248.2 16

 17 FL643168005 Depository institution loans n.e.c. 39.6 30.4 29.9 69.5 41.0 28.6 29.9 30.0 28.6 17

 18 FL643169373 Other loans and advances 9.4 8.5 0.3 4.6 1.7 0.3 0.3 0.3 0.3 18

 19 FL123165005 Mortgages 226.2 224.3 225.4 225.1 223.0 225.0 225.4 219.9 219.3 19

 20 FL643193005 Miscellaneous liabilities 117.6 147.6 159.7 146.4 148.9 155.5 159.7 164.1 164.8 20

 Memo:

 21 FL643065045 Securitized assets included above 122.8 152.0 141.2 131.9 137.9 141.4 141.2 138.0 148.6 21

 22 FL643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL643065163 One-to-four-family residential mortgages 35.1 44.6 27.8 26.8 27.0 27.8 27.8 25.9 27.9 23

 24 FL643065443 Multifamily residential mortgages 4.8 9.8 5.5 4.4 4.6 5.5 5.5 5.6 6.9 24

 25 FL643065543 Commercial mortgages 82.9 97.6 107.9 100.7 106.2 108.1 107.9 106.5 113.8 25

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables L.129.e and L.129.m.
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L.129.e Equity Real Estate Investment Trusts

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL124090005 Total financial assets 208.3 216.7 248.9 256.5 255.4 247.7 248.9 255.6 270.7 1

 2 FL123020003 Checkable deposits and currency 26.4 32.9 44.5 64.8 62.3 50.1 44.5 44.4 45.9 2

 3 LM123063003 Debt securities (corporate and foreign bonds) 10.0 11.0 12.9 10.6 12.1 12.3 12.9 14.4 16.8 3

 4 FL123065005 Loans (mortgages) 27.3 31.0 37.0 31.8 32.0 36.7 37.0 39.4 38.8 4

 5 FL123065103 One-to-four-family residential 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 5

 6 FL123065403 Multifamily residential 0.4 0.8 1.4 0.7 0.7 0.7 1.4 2.0 1.9 6

 7 FL123065503 Commercial 26.7 30.0 35.4 30.9 31.1 35.8 35.4 37.2 36.7 7

 8 FL123093005 Miscellaneous assets 144.6 141.8 154.4 149.3 149.0 148.6 154.4 157.3 169.2 8

 9 FL124190005 Total liabilities 668.7 737.9 789.3 784.2 783.3 778.2 789.3 790.3 807.8 9

 10 FL123163003 Debt securities (corporate bonds) 322.8 358.8 403.0 364.5 392.7 395.7 403.0 410.4 421.2 10

 11 FL124123005 Loans 260.6 252.8 252.8 291.3 261.3 251.2 252.8 247.6 245.9 11

 12 FL123168003 Depository institution loans n.e.c. 34.3 28.5 27.4 66.2 38.3 26.3 27.4 27.8 26.6 12

 13 FL123165005 Mortgages 226.2 224.3 225.4 225.1 223.0 225.0 225.4 219.9 219.3 13

 14 FL123165403 Multifamily residential 24.0 22.8 23.7 23.4 23.7 22.9 23.7 23.9 24.7 14

 15 FL123165503 Commercial 202.3 201.6 201.7 201.7 199.2 202.0 201.7 196.0 194.6 15

 16 FL123193005 Miscellaneous liabilities 85.3 126.3 133.4 128.4 129.3 131.2 133.4 132.3 140.7 16

L.129.m Mortgage Real Estate Investment Trusts

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

 1 FL644090075 Total financial assets 612.4 681.4 508.3 523.4 503.1 503.9 508.3 510.0 508.1 1

 2 FL643020073 Checkable deposits and currency 9.6 12.0 17.5 20.2 17.2 17.9 17.5 16.6 16.8 2

 3 LM644022075 Debt securities 314.5 375.7 223.8 235.7 229.6 222.4 223.8 209.2 199.5 3

 4 LM643061773 Agency- and GSE-backed securities 273.7 334.5 208.5 210.5 209.9 206.6 208.5 197.5 187.6 4

 5 LM643063073 Corporate and foreign bonds 40.8 41.2 15.3 25.2 19.7 15.8 15.3 11.7 11.9 5

 6 FL643065075 Loans (mortgages) 227.7 242.8 222.2 219.0 216.0 223.4 222.2 226.3 242.8 6

 7 FL643065173 One-to-four-family residential 72.5 75.9 51.5 53.7 48.6 52.6 51.5 54.3 60.2 7

 8 FL643065473 Multifamily residential 7.3 14.2 9.6 8.5 8.3 9.2 9.6 10.1 11.8 8

 9 FL643065573 Commercial 147.8 152.8 161.1 156.8 159.1 161.6 161.1 161.9 170.8 9

 10 FL643090075 Miscellaneous assets 60.7 50.9 44.8 48.5 40.2 40.2 44.8 58.0 49.1 10

 11 FL644190075 Total liabilities 501.7 591.6 429.3 451.1 427.2 426.0 429.3 430.0 427.4 11

 12 FL642151073 Security repurchase agreements 307.6 379.3 221.7 259.8 229.8 220.3 221.7 218.4 210.8 12

 13 FL644122075 Debt securities 147.2 180.5 178.4 165.3 173.5 178.9 178.4 177.3 190.2 13

 14 FL643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL643163075 Corporate bonds 147.2 180.5 178.4 165.3 173.5 178.9 178.4 177.3 190.2 15

 16 FL644123075 Loans 14.7 10.4 2.8 7.9 4.4 2.6 2.8 2.6 2.4 16

 17 FL643168073 Depository institution loans n.e.c. 5.3 1.9 2.5 3.3 2.7 2.3 2.5 2.3 2.1 17

 18 FL643169373 Other loans and advances 9.4 8.5 0.3 4.6 1.7 0.3 0.3 0.3 0.3 18

 19 FL643193075 Miscellaneous liabilities 32.3 21.4 26.3 18.1 19.6 24.2 26.3 31.8 24.0 19

 Memo:

 20 FL643065045 Securitized assets included above 122.8 152.0 141.2 131.9 137.9 141.4 141.2 138.0 148.6 20

 21 FL643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL643065163 One-to-four-family residential mortgages 35.1 44.6 27.8 26.8 27.0 27.8 27.8 25.9 27.9 22

 23 FL643065443 Multifamily residential mortgages 4.8 9.8 5.5 4.4 4.6 5.5 5.5 5.6 6.9 23

 24 FL643065543 Commercial mortgages 82.9 97.6 107.9 100.7 106.2 108.1 107.9 106.5 113.8 24
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108 Z.1, September 23, 2021

L.130 Security Brokers and Dealers

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL664090005 Total financial assets 3320.7 3421.3 3645.5 3700.6 3466.4 3470.7 3645.5 3506.4 3537.9 1

 2 FL663020003 Checkable deposits and currency 126.2 125.2 138.4 162.0 139.0 133.9 138.4 136.9 132.6 2

 3 FL662051003 Security repurchase agreements 1315.2 1396.0 1322.1 1483.0 1282.2 1279.0 1322.1 1238.0 1133.4 3

 4 LM664022005 Debt securities 478.9 450.2 415.9 515.2 514.4 452.3 415.9 189.0 218.3 4

 5 FL663069103 Open market paper 11.4 8.5 8.2 20.7 13.0 11.0 8.2 9.2 11.7 5

 6 LM663061105 Treasury securities 250.4 213.8 222.1 234.8 273.0 219.1 222.1 95.5 113.0 6

 7 LM663061705 Agency- and GSE-backed securities 117.2 139.3 95.0 175.1 142.6 119.6 95.0 4.9 12.4 7

 8 LM663062003 Municipal securities 20.7 16.4 6.8 13.7 8.7 10.4 6.8 8.8 10.7 8

 9 LM663063005 Corporate and foreign bonds 79.2 72.1 83.9 70.9 77.1 92.1 83.9 70.6 70.4 9

 10 FL663069005 Loans (other loans and advances) 340.5 373.0 538.3 394.6 373.5 440.3 538.3 628.7 651.8 10

 11 LM663064103 Corporate equities 147.7 166.7 214.3 144.7 180.4 205.4 214.3 265.9 259.1 11

 12 LM663092003 U.S. direct investment abroad 225.3 299.0 349.5 235.0 274.8 286.2 349.5 361.0 383.2 12

 13 FL663090005 Miscellaneous assets 686.9 611.2 667.0 766.2 702.2 673.5 667.0 686.9 759.5 13

 14 FL664190005 Total liabilities 3136.2 3228.3 3432.8 3504.7 3261.9 3268.8 3432.8 3280.9 3306.6 14

 15 FL662151003 Security repurchase agreements 1698.4 1755.0 1774.2 1815.9 1680.4 1713.2 1774.2 1573.6 1550.5 15

 16 FL663163003 Debt securities (corporate bonds) 184.0 174.0 183.9 256.9 179.7 165.4 183.9 196.3 204.5 16

 17 FL664123005 Loans 882.7 906.1 1037.0 1114.0 1033.7 995.6 1037.0 1064.1 1097.2 17

 18 FL663168005 Depository institution loans n.e.c. 124.3 122.0 132.2 184.6 124.5 118.7 132.2 139.4 156.2 18

 19 FL153067005 Other loans and advances 758.4 784.0 904.8 929.4 909.2 876.9 904.8 924.7 941.1 19

 20 FL663170003 Trade payables 16.8 15.8 18.5 20.1 17.8 16.7 18.5 19.7 15.9 20

 21 FL663178005 Taxes payable 13.6 12.2 14.4 13.6 15.7 14.5 14.4 15.2 15.0 21

 22 LM663192305 Foreign direct investment: intercompany debt 8.4 12.0 13.2 10.0 11.6 12.0 13.2 13.0 16.3 22

 23 FL663190005 Miscellaneous liabilities 332.2 353.2 391.5 274.2 323.0 351.3 391.5 399.0 407.0 23

 24 FL663194005 Investment by parent companies 952.6 983.3 1064.7 1049.4 1002.0 1007.8 1064.7 1066.6 1124.2 24

 25 FL663193005 Other -620.4 -630.1 -673.2 -775.2 -679.0 -656.5 -673.2 -667.6 -717.2 25

 Memo:

 26 LM662090003 Equity in noncorporate business 78.2 83.5 90.3 84.8 88.5 87.1 90.3 93.8 98.0 26

 27 LM663192103 Foreign direct investment: equity 94.7 178.9 246.3 122.1 174.4 196.5 246.3 262.8 298.3 27
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Z.1, September 23, 2021 109

L.131 Holding Companies (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL734090005 Total financial assets 3840.7 3999.1 4262.9 4061.0 4170.2 4164.6 4262.9 4250.1 4372.2 1

 2 FL733030003 Time and savings deposits 376.7 386.4 514.9 434.1 532.7 521.0 514.9 440.0 438.9 2

 3 FL732051003 Security repurchase agreements 1.6 2.0 41.4 2.0 21.8 36.5 41.4 29.4 15.8 3

 4 LM734022605 Debt securities 92.2 126.7 122.4 121.4 125.1 116.1 122.4 145.5 144.1 4

 5 LM733061103 Treasury securities 33.0 55.8 61.6 53.4 54.4 53.9 61.6 84.2 86.5 5

 6 LM733061703 Agency- and GSE-backed securities 39.3 43.1 33.8 41.2 38.7 36.5 33.8 30.7 29.1 6

 7 LM733063003 Corporate and foreign bonds 19.9 27.7 27.0 26.8 31.9 25.7 27.0 30.5 28.5 7

 8 FL733069005 Loans (other loans and advances) 104.3 117.7 106.6 128.7 119.0 104.6 106.6 121.2 129.6 8

 9 FL733040005 Life insurance reserves 61.0 65.0 69.0 66.0 67.0 68.0 69.0 70.0 71.0 9

 10 FL733090005 Miscellaneous assets 3204.9 3301.4 3408.6 3308.7 3304.7 3318.4 3408.6 3444.1 3572.7 10

 11 FL763194735 Net trans. with depository affiliates 2140.0 2233.6 2306.3 2197.2 2225.2 2252.9 2306.3 2320.5 2386.8 11

 12 FL513194733 Net trans. with property-casualty ins. co. affiliates 6.0 6.8 2.9 6.7 1.9 3.0 2.9 3.7 4.4 12

 13 FL543194733 Net trans. with life insurance company affiliates 4.8 5.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL613194733 Net trans. with finance company affiliates 15.0 10.2 8.2 9.3 9.1 9.3 8.2 7.6 6.9 14

 15 FL663194735 Net trans. with broker and dealer affiliates 952.6 983.3 1064.7 1049.4 1002.0 1007.8 1064.7 1066.6 1124.2 15

 16 FL263194735 Net trans. with foreign affiliates 18.3 17.1 -14.5 5.6 22.8 6.4 -14.5 3.0 5.8 16

 17 FL733093005 Other 68.1 44.4 40.9 40.6 43.7 39.1 40.9 42.7 44.6 17

 18 FL734190005 Total liabilities 1503.8 1557.2 1687.9 1637.1 1716.4 1673.0 1687.9 1646.5 1724.7 18

 19 FL732151003 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 19

 20 FL734122005 Debt securities 1401.7 1445.7 1577.5 1538.2 1606.9 1569.1 1577.5 1538.0 1617.7 20

 21 FL733169103 Commercial paper 5.9 5.9 5.2 5.4 4.9 3.6 5.2 5.5 6.5 21

 22 FL733163003 Corporate bonds 1395.8 1439.9 1572.3 1532.8 1602.0 1565.5 1572.3 1532.5 1611.2 22

 23 LM733192305 Foreign direct investment: intercompany debt (2) 115.8 97.4 105.7 98.8 98.6 100.1 105.7 106.7 107.7 23

 24 FL733193005 Miscellaneous liabilities -13.7 14.0 4.7 0.1 10.9 3.9 4.7 1.6 -0.8 24

 Memo:

 25 LM733192103 Foreign direct investment: equity (2) 64.2 79.7 80.9 80.8 81.1 83.0 80.9 89.6 90.3 25

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.

(2) Investment in U.S. Intermediate Holding Companies.
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110 Z.1, September 23, 2021

L.132 Other Financial Business (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL504090005 Total financial assets 710.9 758.7 1132.3 976.1 1064.8 1074.7 1132.3 1266.5 1231.3 1

 2 FL713129005 Checkable deposits and currency 62.3 61.2 154.2 160.4 133.7 145.9 154.2 185.8 201.1 2

 3 FL503034005 Money market fund shares 242.8 319.5 480.3 406.9 467.3 468.5 480.3 500.5 507.6 3

 4 FL502051003 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL504022005 Debt securities 275.7 250.0 366.1 272.2 332.2 334.9 366.1 408.6 377.0 5

 6 FL503069105 Open market paper 205.0 179.1 180.9 195.4 156.5 159.2 180.9 276.1 241.4 6

 7 FL503061303 Nonmarketable Treasury securities 0.0 0.0 95.7 0.0 95.6 95.7 95.7 42.6 34.1 7

 8 FL503063005 Corporate and foreign bonds 70.7 70.9 83.3 76.8 78.9 78.4 83.3 83.9 96.8 8

 9 FL503062003 Municipal securities 0.0 0.0 6.3 0.0 1.2 1.7 6.3 6.1 4.8 9

 10 FL503069005 Loans (other loans and advances) 7.0 8.4 31.0 14.2 12.2 15.7 31.0 28.8 27.6 10

 11 FL503064105 Corporate equities 0.0 0.0 8.8 0.0 8.0 8.6 8.8 8.5 1.1 11

 12 FL503094505 Miscellaneous assets 123.1 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 12

 13 FL753194503 Investment in foreign banking offices 123.1 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 13

 14 FL663194505 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL504190005 Total liabilities 710.9 758.7 1132.3 976.1 1064.8 1074.7 1132.3 1266.5 1231.3 15

 16 FL504122005 Debt securities 151.4 145.7 121.0 143.1 132.9 119.2 121.0 180.1 154.6 16

 17 FL503169105 Open market paper 151.4 145.7 121.0 143.1 132.9 119.2 121.0 180.1 154.6 17

 18 FL503163003 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FL504123005 Loans 2.4 2.4 43.0 2.4 17.5 22.3 43.0 41.3 39.2 19

 20 FL713068505 Depository institution loans n.e.c. 0.0 0.0 40.7 0.0 15.1 20.0 40.7 38.9 36.9 20

 21 FL503169205 Other loans and advances 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 21

 22 FL503192305 Foreign direct investment: intercompany debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL503190005 Miscellaneous liabilities 557.1 610.7 968.3 830.6 914.5 933.1 968.3 1045.1 1037.5 23

 24 FL663097005 Securities loaned (net) 683.8 685.5 753.6 744.0 747.2 716.3 753.6 762.3 853.4 24

 25 LM503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FL503194205 Equity in Federal Reserve facilities (2) 0.0 0.0 112.5 0.0 112.5 112.5 112.5 50.3 40.3 26

 27 FL503193005 Other (net) -126.6 -74.8 102.2 86.6 54.7 104.4 102.2 232.6 143.8 27

(1) Includes funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, funds associated with the Public-Private Investment Program (PPIP), Federal Reserve funding,

 credit, and liquidity facility special purpose vehicles (SPV) created in response to the 2008 Financial Crisis and COVID-19 pandemic, and deposits at Federal Reserve banks of Federal Reserve SPVs and

 designated financial market utilities (DFMU).

(2) U.S. Treasury Exchange Stabilization Fund Economic Recovery Programs investment in Federal Reserve SPVs.
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L.133 Rest of the World

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL264090005 Total financial assets 29980.5 34921.4 39843.0 32218.7 35344.9 36950.5 39843.0 41050.1 43592.2 1

 2 LM313111303 SDR allocations 49.1 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 2

 3 FL264016005 Net interbank assets 206.8 123.6 152.9 473.4 287.7 221.8 152.9 38.7 32.6 3

 4 FL263020005 U.S. checkable deposits and currency 928.0 987.0 1142.6 1059.8 1073.4 1106.7 1142.6 1167.6 1181.2 4

 5 FL263030005 U.S. time deposits 601.9 599.8 697.6 712.8 685.9 685.7 697.6 735.9 747.6 5

 6 FL263034003 Money market fund shares 110.7 125.1 127.1 130.5 135.9 129.3 127.1 131.9 133.1 6

 7 FL262051005 Security repurchase agreements 971.5 1064.8 1075.2 1186.5 1067.6 1045.3 1075.2 1153.5 1271.6 7

 8 LM264022005 Debt securities 11186.0 12246.3 12906.1 12177.2 12700.8 12723.0 12906.1 12684.4 13000.5 8

 9 LM263069103 Open market paper 124.7 130.2 85.3 99.9 106.3 88.2 85.3 101.8 104.8 9

 10 LM263061105 Treasury securities 6270.1 6844.2 7070.8 6949.5 7046.6 7069.2 7070.8 7028.4 7202.2 10

 11 LM263061705 Agency- and GSE-backed securities 1087.0 1203.8 1195.7 1283.6 1236.4 1182.5 1195.7 1156.1 1144.9 11

 12 FL263062003 Municipal securities 99.7 103.7 108.5 102.9 107.0 107.5 108.5 110.2 113.2 12

 13 LM263063005 U.S. corporate bonds (1) 3604.4 3964.3 4445.8 3741.4 4204.5 4275.6 4445.8 4287.9 4435.4 13

 14 FL263069500 Loans to U.S. corporate business 733.3 830.8 905.6 877.8 882.0 890.1 905.6 935.6 951.3 14

 15 FL263069563 Of which: loans held by CLOs (2) 459.1 522.6 566.0 532.6 557.2 561.2 566.0 577.1 595.8 15

 16 LM263064105 U.S. corporate equities 6629.5 8199.2 10449.2 6733.2 8131.4 8966.6 10449.2 11160.9 12169.9 16

 17 LM263064203 Mutual fund shares 799.0 896.1 1029.4 794.6 901.6 951.3 1029.4 1083.2 1151.0 17

 18 LM263070005 Trade receivables 332.7 349.1 430.0 364.8 389.7 408.6 430.0 436.0 438.5 18

 19 FL543141905 Life insurance reserves 10.4 10.7 1.6 8.7 5.8 3.9 1.6 1.6 1.6 19

 20 FL543151905 Pension entitlements 15.4 16.0 2.4 13.0 8.6 5.8 2.4 2.4 2.4 20

 21 LM263092001 Foreign direct investment in U.S. (3) 7346.9 9362.9 10813.5 7577.2 8966.1 9704.9 10813.5 11408.1 12388.6 21

 22 FL263076005 Miscellaneous assets (insurance receivables) 59.2 61.3 59.1 61.0 59.8 57.8 59.1 60.6 61.7 22

 23 FL264190005 Total liabilities 6655.8 7238.6 7673.2 7585.6 7515.6 7416.9 7673.2 7638.6 7694.6 23

 24 LM263111005 U.S. official reserve assets (4) 114.6 118.3 133.7 116.7 122.7 127.8 133.7 127.9 129.0 24

 25 LM263191005 U.S. private deposits 824.1 766.9 868.3 941.2 810.0 871.7 868.3 901.5 894.8 25

 26 FL262151003 Security repurchase agreements 989.6 1225.7 1287.1 1329.9 1241.5 1216.1 1287.1 1153.9 1122.3 26

 27 LM264122005 Debt securities 3406.1 3800.4 4010.1 3464.6 3724.8 3824.3 4010.1 4060.8 4127.9 27

 28 FL263169105 Commercial paper 368.3 452.8 463.8 423.6 437.4 456.0 463.8 506.0 523.8 28

 29 LM263163005 Bonds 3037.7 3347.6 3546.3 3041.0 3287.4 3368.3 3546.3 3554.9 3604.1 29

 30 LM263163063 Of which: CLO securities (2) 416.8 479.1 520.3 484.1 493.5 506.6 520.3 544.9 564.8 30

 31 FL264123005 Loans 596.1 690.3 753.6 778.8 741.2 736.1 753.6 772.2 799.4 31

 32 FL263168005 Depository institution loans n.e.c. 545.5 632.6 698.6 715.9 685.7 685.0 698.6 716.5 744.1 32

 33 FL263169005 Other loans and advances 50.6 57.6 55.0 63.0 55.5 51.1 55.0 55.7 55.3 33

 34 LM263170005 Trade payables 79.4 81.6 81.6 77.8 76.6 80.9 81.6 86.0 91.5 34

 35 FL263140005 Life insurance reserves 66.6 68.3 83.8 71.8 76.7 80.0 83.8 83.2 84.3 35

 36 FL263150005 Pension entitlements 77.5 80.8 127.8 91.1 106.2 116.1 127.8 128.3 130.4 36

 37 LM263192305 U.S. direct investment abroad: debt (1,3) 231.7 130.0 64.1 92.8 108.6 77.8 64.1 54.6 40.7 37

 38 FL263190005 Miscellaneous liabilities 270.2 276.1 263.0 620.7 507.2 286.1 263.0 270.3 274.3 38

 39 FL313092803 U.S. equity in IBRD, etc. 66.1 67.5 69.3 68.8 68.8 69.0 69.3 70.5 70.5 39

 40 FL263191103 Nonofficial foreign currencies 6.8 6.4 20.5 360.3 229.5 26.5 20.5 5.1 3.2 40

 41 FL263194735 Net investment by holding companies 18.3 17.1 -14.5 5.6 22.8 6.4 -14.5 3.0 5.8 41

 42 FL263195105 Accident and health insurance reserves 17.8 18.6 24.4 19.9 21.8 23.0 24.4 24.4 24.5 42

 43 FL263176005 Policy payables 161.1 166.6 163.3 166.1 164.3 161.3 163.3 167.2 170.3 43

 Memo:

 44 LM263164100 Foreign equities held by U.S. residents (5) 7899.6 9478.0 10535.9 7442.6 8574.9 9142.7 10535.9 11003.1 11687.7 44

 45 LM263192101 U.S. direct investment abroad: equity (3) 6139.1 7449.1 8176.6 5713.6 6747.3 7130.4 8176.6 8671.8 9232.2 45

 Financial derivatives (6)

 46 FL263098013 Gross positive fair value 1407.5 1770.3 2552.4 2965.0 2728.6 2518.2 2552.4 2125.3 ND 46

 47 FL263198013 Gross negative fair value 1449.6 1790.4 2545.7 2999.0 2750.8 2545.2 2545.7 2158.8 ND 47

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

(2) Collateralized loan obligations.

(3) Direct investment reported at market value.

(4) Does not include monetary gold.

(5) Includes American Depositary Receipts (ADRs).

(6) Financial derivatives are not included above.
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112 Z.1, September 23, 2021

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 LM893111005 Total liabilities 163.7 167.1 184.6 164.9 171.3 177.5 184.6 177.9 179.4 1

 2 LM313111303 Federal government: SDR allocations 49.1 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 2

 3 LM263111005 Rest of the world 114.6 118.3 133.7 116.7 122.7 127.8 133.7 127.9 129.0 3

 4 LM313011303 SDR holdings 50.8 50.7 52.9 50.1 50.6 51.7 52.9 52.1 52.4 4

 5 LM263111403 Reserve position in IMF 22.0 26.2 36.4 25.5 30.6 33.1 36.4 33.7 34.3 5

 6 LM263111503 Other reserves 41.8 41.4 44.4 41.1 41.5 42.9 44.4 42.1 42.3 6

 7 FL893011005 Total assets 174.8 178.2 195.6 176.0 182.4 188.6 195.6 189.0 190.4 7

 8 FL313011005 Federal government 93.9 97.8 111.7 96.4 102.2 106.5 111.7 107.0 108.1 8

 9 FL313011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM313011303 SDR holdings 50.8 50.7 52.9 50.1 50.6 51.7 52.9 52.1 52.4 10

 11 LM313011405 Reserve position in IMF 22.3 26.4 36.6 25.8 30.9 33.4 36.6 33.9 34.6 11

 12 LM313011505 Other reserves 20.8 20.6 22.1 20.5 20.7 21.4 22.1 21.0 21.0 12

 13 LM313111303 Rest of the world: SDR allocations 49.1 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 13

 14 FL713011005 Monetary authority 31.8 31.6 33.1 31.4 31.6 32.3 33.1 31.9 32.0 14

 15 FL713011203 Monetary gold (2) 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 FL713011405 Reserve position in IMF -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 16

 17 LM713011505 Other reserves 21.0 20.8 22.3 20.6 20.9 21.6 22.3 21.2 21.2 17

 18 FL903011005 Discrepancy: monetary gold -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

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

 SDR certificates:

 1 FL713014003 Liab: Federal government 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1

 2 FL713014003 Asset: Monetary authority 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 2

 Treasury currency:

 3 FL313112003 Liab: Federal government 23.7 23.2 23.1 23.2 23.2 23.1 23.1 23.1 23.1 3

 4 FL713012003 Asset: Monetary authority 49.8 50.1 50.5 50.2 50.3 50.4 50.5 50.5 50.7 4

 5 FL903012005 Discrepancy (seigniorage) -26.1 -26.9 -27.3 -27.0 -27.1 -27.2 -27.3 -27.4 -27.6 5

L.202 U.S. Deposits in Foreign Countries

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

 1 LM263191005 Total rest of the world liability 824.1 766.9 868.3 941.2 810.0 871.7 868.3 901.5 894.8 1

 Held by:

 2 LM153091003 Household sector 41.8 40.8 48.6 50.2 43.7 47.7 48.6 50.0 49.4 2

 3 FL103091003 Nonfinancial corporate business 106.3 131.0 142.8 111.3 145.3 159.8 142.8 142.3 176.8 3

 4 FL633091003 Money market funds 1.5 7.4 0.7 3.8 2.1 0.9 0.7 2.2 0.3 4

 5 FL903091005 Discrepancy--unallocated assets 674.4 587.7 676.2 776.0 618.8 663.4 676.2 707.1 668.4 5
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Z.1, September 23, 2021 113

L.203 Net Interbank Transactions

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL794110005 Total liabilities 1810.9 1711.9 3258.2 3063.4 3210.8 3080.8 3258.2 3852.4 3652.8 1

 2 FL714110005 Monetary authority 1638.0 1632.3 3094.1 2573.3 2879.0 2833.3 3094.1 3770.2 3604.0 2

 3 FL764110005 U.S.-chartered depository institutions 21.5 7.7 8.8 67.4 127.8 93.8 8.8 -85.0 -67.2 3

 4 FL754110005 Foreign banking offices in U.S. 191.1 112.6 191.8 468.0 243.5 193.5 191.8 197.4 152.7 4

 5 FL744110005 Banks in U.S.-affiliated areas -1.3 -1.6 -1.4 -2.0 -2.0 -1.5 -1.4 -1.3 -1.3 5

 6 FL474110005 Credit unions -38.4 -39.1 -35.2 -43.3 -37.4 -38.2 -35.2 -28.9 -35.3 6

 7 FL894010005 Total assets 1844.1 1755.2 3291.0 3122.7 3249.4 3120.4 3291.0 3849.2 3677.3 7

 8 FL714010005 Monetary authority -0.7 -0.6 44.0 76.0 82.7 65.3 44.0 40.3 40.8 8

 9 FL763020005 U.S.-chartered depository institutions 970.5 990.8 2289.0 1575.5 2059.0 2008.0 2289.0 2716.8 2566.8 9

 10 FL753020005 Foreign banking offices in U.S. 598.6 554.1 602.5 873.8 644.6 649.6 602.5 794.3 799.1 10

 11 FL743013003 Banks in U.S.-affiliated areas 6.0 4.4 14.7 8.0 13.4 16.0 14.7 14.5 23.2 11

 12 FL473013005 Credit unions 62.9 83.0 188.0 116.0 162.0 159.7 188.0 244.6 214.8 12

 13 FL264016005 Rest of the world 206.8 123.6 152.9 473.4 287.7 221.8 152.9 38.7 32.6 13

 14 FL904010005 Discrepancy -33.2 -43.3 -32.9 -59.2 -38.5 -39.6 -32.9 3.2 -24.5 14

 Memo:

 Vault cash:

 15 FL703025005 Liab.: Monetary authority 82.0 83.4 99.2 99.0 92.0 90.0 99.2 97.5 92.3 15

 16 FL763025000 Asset: U.S.-chartered depository institutions 82.0 83.4 99.2 99.0 91.9 90.0 99.2 97.5 92.3 16

 17 FL753025003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 Depository institution reserves:

 18 FL713113003 Liab.: Monetary authority 1556.0 1548.8 2994.9 2474.3 2787.0 2743.2 2994.9 3672.7 3511.6 18

 19 FL763013005 Asset: U.S.-chartered depository institutions 888.4 907.3 2189.8 1476.5 1967.1 1918.0 2189.8 2619.2 2474.5 19

 20 FL753013003 Foreign banking offices in U.S. 598.6 554.1 602.5 873.8 644.6 649.6 602.5 794.3 799.1 20

 21 FL743013003 Banks in U.S.-affiliated areas 6.0 4.4 14.7 8.0 13.4 16.0 14.7 14.5 23.2 21

 22 FL473013005 Credit unions 62.9 83.0 188.0 116.0 162.0 159.7 188.0 244.6 214.8 22

 Other transactions with the monetary authority

 23 FL714010075 Liab: U.S.-chartered depository institutions -0.7 -0.6 43.6 76.0 82.2 64.8 43.6 40.1 40.6 23

 24 FL713068743 Credit unions 0.0 0.0 0.4 0.0 0.5 0.5 0.4 0.2 0.2 24

 25 FL714010005 Asset: Monetary authority -0.7 -0.6 44.0 76.0 82.7 65.3 44.0 40.3 40.8 25

 26 FL713022003 Federal Reserve float -0.8 -0.6 -0.6 -0.7 -0.7 -1.3 -0.6 -1.1 -1.1 26

 27 FL713068705 Loans to depository institutions 0.1 0.0 44.6 76.6 83.5 66.6 44.6 41.4 41.8 27

 Transactions with banks in foreign countries (net):

 28 FL764116205 Liab.: U.S.-chartered depository institutions (net) 65.9 47.6 -8.1 49.6 81.6 51.5 -8.1 -117.3 -80.8 28

 29 FL763192605 Due to foreign affiliates 347.1 369.8 411.3 413.7 421.6 421.6 411.3 374.4 378.0 29

 30 FL763092605 - Due from foreign affiliates 281.2 322.2 419.5 364.1 340.0 370.1 419.5 491.7 458.9 30

 31 FL754116205 Foreign banking offices in U.S. (net) 225.7 151.2 210.9 500.1 263.3 215.9 210.9 210.5 173.7 31

 32 FL753192605 Due to foreign affiliates 982.1 982.1 1022.6 1311.6 1112.5 1032.3 1022.6 1040.3 990.8 32

 33 FL753092605 - Due from foreign affiliates 756.4 830.9 811.7 811.6 849.2 816.5 811.7 829.8 817.1 33

 34 FL264116205 Less: Deposits at foreign banks 30.3 26.8 33.7 29.0 27.1 30.3 33.7 41.0 39.8 34

 35 FL764016205 U.S.-chartered depository institutions 17.8 15.2 23.0 19.0 19.7 20.6 23.0 27.4 28.2 35

 36 FL754016205 Foreign banking offices in U.S. 12.4 11.6 10.6 10.0 7.4 9.7 10.6 13.6 11.7 36

 37 FL264135125 Loans to foreign banks 72.0 69.7 44.6 68.7 56.4 46.2 44.6 42.7 49.3 37

 38 FL764035125 U.S.-chartered depository institutions 28.9 28.9 17.6 29.9 24.0 17.7 17.6 17.9 21.4 38

 39 FL754035125 Foreign banking offices in U.S. 43.1 40.8 27.0 38.8 32.3 28.5 27.0 24.8 27.9 39

 40 FL264035125 Plus: Loans from foreign banks 17.5 21.3 28.4 21.5 26.2 31.0 28.4 29.2 28.8 40

 41 FL274135123 U.S.-chartered depository institutions 9.2 11.8 17.4 11.5 15.3 18.4 17.4 17.7 18.1 41

 42 FL284135125 Foreign banking offices in U.S. 8.3 9.5 11.0 9.9 10.8 12.5 11.0 11.5 10.8 42

 43 FL264016005 Asset: Rest of the world (1) 206.8 123.6 152.9 473.4 287.7 221.8 152.9 38.7 32.6 43

 Transactions between U.S. depository institutions (net):

 44 FL764112005 U.S.-chartered depository institutions (net) -6.1 -7.0 -3.4 -20.7 -7.7 -2.7 -3.4 19.8 4.5 44

 45 FL764112205 Due to (3): 33.3 23.8 27.7 13.7 26.5 26.9 27.7 55.2 37.6 45

 46 FL754012205 Foreign banking offices in U.S. 26.8 26.4 23.6 27.6 25.1 26.2 23.6 21.6 25.3 46

 47 FL743020005 Banks in U.S.-affiliated areas 1.3 1.6 1.4 2.0 2.0 1.5 1.4 1.3 1.3 47

 48 FL474012205 Credit unions 38.4 39.1 35.6 43.3 37.9 38.7 35.6 29.1 35.5 48

 49 FL754112205 - Due from: Foreign banking offices in U.S. 39.5 30.8 31.1 34.4 34.1 29.6 31.1 35.4 33.1 49

 50 FL904010005 Unallocated (2) -33.2 -43.3 -32.9 -59.2 -38.5 -39.6 -32.9 3.2 -24.5 50

(1) Sum of lines 28 and 31 less line 34 and line 37 plus line 40.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 13 above. However, the unallocated amount (line 50), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 46, 47, 48, and 50.
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114 Z.1, September 23, 2021

L.204 Checkable Deposits and Currency

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL793120005 Total liabilities 4583.7 4856.0 9128.6 5771.8 7671.3 7926.9 9128.6 9033.6 9115.2 1

 2 FL713120005 Monetary authority 2117.6 2207.3 3945.7 2593.2 3792.1 3914.6 3945.7 3521.7 3178.3 2

 3 FL713123005 Federal government cash and deposits 402.4 404.0 1728.6 515.6 1722.1 1781.7 1728.6 1122.0 852.0 3

 4 FL713124005 Due to government-sponsored enterprises 10.5 12.5 51.0 120.0 42.0 25.5 51.0 134.1 28.6 4

 5 FL713129005 Due to other financial business 62.3 61.2 154.2 160.4 133.7 145.9 154.2 185.8 201.1 5

 6 FL713122605 Deposits due to foreign 5.3 5.2 21.9 17.4 16.3 18.9 21.9 33.2 5.3 6

 7 FL713125005 Currency outside banks 1637.2 1724.2 1989.9 1779.7 1878.1 1942.5 1989.9 2046.5 2091.3 7

 8 FL763127005 U.S.-chartered depository institutions 2053.7 2191.5 4572.8 2649.7 3303.4 3416.4 4572.8 4803.3 5236.0 8

 9 FL763123005 Federal government deposits 1.8 1.6 2.7 1.7 1.9 2.4 2.7 2.4 4.5 9

 10 FL763128000 State and local government deposits 132.9 139.1 229.9 142.3 167.3 178.1 229.9 248.5 296.5 10

 11 FL763122605 Deposits due to foreign 74.4 78.9 61.4 91.0 70.5 63.0 61.4 58.5 74.6 11

 12 FL763129205 Private domestic deposits 1844.7 1971.8 4278.8 2414.7 3063.7 3172.9 4278.8 4493.8 4860.5 12

 13 FL753127005 Foreign banking offices in U.S. 177.8 199.4 256.3 251.4 256.1 265.8 256.3 306.3 296.0 13

 14 FL753122603 Deposits due to foreign 74.4 77.6 112.8 100.2 106.0 107.3 112.8 119.2 132.1 14

 15 FL753129205 Private domestic deposits 103.3 121.7 143.5 151.3 150.1 158.5 143.5 187.1 163.9 15

 16 FL743127003 Banks in U.S.-affiliated areas 40.9 45.7 56.7 46.5 54.4 56.5 56.7 61.3 68.1 16

 17 FL473127003 Credit unions 193.8 212.1 297.1 231.0 265.4 273.7 297.1 341.1 336.7 17

 18 FL793120005 Total assets 4583.7 4856.0 9128.6 5771.8 7671.3 7926.9 9128.6 9033.6 9115.2 18

 19 FL153020005 Household sector 1208.7 1173.4 2885.5 1316.0 1592.8 1738.8 2885.5 3314.6 3642.2 19

 20 FL143020005 Nonfinancial business 1507.2 1677.8 2441.5 1955.8 2458.3 2536.6 2441.5 2438.7 2471.9 20

 21 FL103020000 Corporate 1189.7 1339.9 1999.4 1559.9 2014.0 2094.2 1999.4 1974.5 1994.4 21

 22 FL113020005 Noncorporate 317.5 337.9 442.0 395.9 444.3 442.4 442.0 464.2 477.5 22

 23 FL313020005 Federal government 405.9 407.2 1732.1 518.9 1725.4 1784.9 1732.1 1117.1 855.7 23

 24 FL213020005 State and local governments 132.9 139.1 229.9 142.3 167.3 178.1 229.9 248.5 296.5 24

 25 FL793020005 Domestic financial sectors 398.9 469.6 694.3 777.5 651.9 579.1 694.3 736.3 663.3 25

 26 FL513020005 Property-casualty insurance companies 30.2 47.6 50.2 44.2 54.5 46.3 50.2 57.5 54.0 26

 27 FL543020005 Life insurance companies 90.7 94.7 127.7 143.6 148.5 132.1 127.7 121.3 140.2 27

 28 FL573020005 Private pension funds 16.8 24.1 32.2 26.8 28.7 30.5 32.2 32.7 34.1 28

 29 FL343020033 Federal government retirement funds 0.8 0.7 0.9 0.7 0.8 0.8 0.9 0.9 0.9 29

 30 FL223020043 State and local govt. retirement funds 28.6 23.0 27.7 22.1 20.6 21.0 27.7 23.1 23.4 30

 31 FL633020000 Money market funds -43.7 1.2 -7.8 -25.8 -45.1 -74.0 -7.8 -53.5 -71.1 31

 32 FL403020005 Government-sponsored enterprises 36.8 34.6 92.5 142.0 71.1 57.6 92.5 153.9 68.6 32

 33 FL613020003 Finance companies 14.3 12.2 16.4 16.5 20.7 17.0 16.4 16.7 16.7 33

 34 FL643020005 REITs 36.0 44.9 62.0 85.0 79.5 68.0 62.0 61.0 62.7 34

 35 FL663020003 Brokers and dealers 126.2 125.2 138.4 162.0 139.0 133.9 138.4 136.9 132.6 35

 36 FL713129005 Other financial business 62.3 61.2 154.2 160.4 133.7 145.9 154.2 185.8 201.1 36

 37 FL263020005 Rest of the world 928.0 987.0 1142.6 1059.8 1073.4 1106.7 1142.6 1167.6 1181.2 37

 38 FL263027003 Checkable deposits 154.1 161.8 196.0 208.6 192.8 189.2 196.0 210.9 212.0 38

 39 FL263025003 Currency 773.9 825.2 946.5 851.2 880.6 917.5 946.5 956.6 969.3 39

 40 FL903020005 Mail float 2.2 1.9 2.9 1.4 2.1 2.6 2.9 10.8 4.3 40
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Z.1, September 23, 2021 115

L.205 Time and Savings Deposits 

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL703130005 Total liabilities 12200.5 12884.6 13679.7 13500.0 14171.0 14212.6 13679.7 14194.6 14001.5 1

 2 FL763130005 U.S.-chartered depository institutions 10293.9 10805.4 11461.2 11430.4 11959.9 12004.0 11461.2 11865.3 11660.7 2

 3 FL753130005 Foreign banking offices in U.S. 819.8 908.8 858.0 859.3 917.5 883.8 858.0 892.9 885.8 3

 4 FL743130003 Banks in U.S.-affiliated areas 38.5 39.8 42.9 41.5 42.7 43.4 42.9 46.2 47.0 4

 5 FL473130005 Credit unions 1048.3 1130.6 1317.7 1168.7 1250.9 1281.3 1317.7 1390.2 1408.0 5

 6 FL703130005 Total assets 12200.5 12884.6 13679.7 13500.0 14171.0 14212.6 13679.7 14194.6 14001.5 6

 7 FL153030005 Household sector 9295.7 9834.5 10310.5 10118.1 10646.8 10753.1 10310.5 10794.2 10624.6 7

 8 FL143030005 Nonfinancial business 1235.1 1308.0 1534.0 1480.1 1568.6 1565.4 1534.0 1557.8 1583.4 8

 9 FL103030003 Corporate 187.2 201.5 305.0 298.9 329.8 330.2 305.0 295.0 301.7 9

 10 FL113030003 Noncorporate 1047.9 1106.5 1229.0 1181.2 1238.9 1235.2 1229.0 1262.8 1281.7 10

 11 FL313030003 Federal government 2.0 2.3 1.0 1.9 2.1 1.6 1.0 9.9 1.3 11

 12 FL213030000 State and local governments 403.4 423.2 413.6 430.4 429.7 434.1 413.6 406.4 392.0 12

 13 FL793030005 Domestic financial sectors 662.5 716.8 723.1 756.6 837.8 772.7 723.1 690.5 652.7 13

 14 FL573030005 Private pension funds 30.0 14.5 7.2 13.4 11.5 9.5 7.2 5.9 6.7 14

 15 FL223030043 State and local govt. retirement funds 2.2 4.5 2.3 4.2 2.8 2.4 2.3 2.5 1.9 15

 16 FL633030000 Money market funds 190.6 258.8 140.6 239.4 215.4 180.2 140.6 184.7 148.8 16

 17 FL403030005 Government-sponsored enterprises 20.2 15.8 8.8 16.0 13.3 8.5 8.8 7.2 6.3 17

 18 FL613030003 Finance companies 42.8 36.7 49.3 49.5 62.2 51.1 49.3 50.2 50.1 18

 19 FL733030003 Holding companies 376.7 386.4 514.9 434.1 532.7 521.0 514.9 440.0 438.9 19

 20 FL263030005 Rest of the world 601.9 599.8 697.6 712.8 685.9 685.7 697.6 735.9 747.6 20

L.206 Money Market Fund Shares

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

 1 FL634090005 Total assets 3038.3 3634.3 4335.6 4338.0 4635.9 4410.1 4335.6 4500.4 4539.3 1

 2 FL153034005 Household sector 1799.0 2210.7 2548.2 2396.8 2660.0 2626.3 2548.2 2728.4 2772.8 2

 3 FL103034000 Nonfinancial corporate business 466.1 558.3 677.9 919.6 868.9 686.8 677.9 628.6 609.7 3

 4 FL113034003 Nonfinancial noncorporate business 104.6 110.4 119.5 113.9 118.3 119.7 119.5 120.2 120.6 4

 5 FL213034003 State and local governments 19.8 26.5 34.5 32.4 35.3 34.3 34.5 35.8 36.1 5

 6 FL513034005 Property-casualty insurance companies 22.3 24.7 34.7 24.7 32.8 30.1 34.7 38.5 32.6 6

 7 FL543034005 Life insurance companies 55.0 58.6 66.5 88.4 84.6 73.0 66.5 62.5 66.7 7

 8 FL573034005 Private pension funds 158.5 179.7 222.4 195.0 204.9 214.6 222.4 225.1 231.6 8

 9 FL223034005 State and local govt. retirement funds 59.7 20.7 24.8 29.9 27.9 27.5 24.8 28.9 28.5 9

 10 FL503034005 Other financial business 242.8 319.5 480.3 406.9 467.3 468.5 480.3 500.5 507.6 10

 11 FL263034003 Rest of the world 110.7 125.1 127.1 130.5 135.9 129.3 127.1 131.9 133.1 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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL892150005 Total liabilities 3970.5 4431.4 4233.8 4788.6 4095.0 4100.6 4233.8 4028.4 4845.4 1

 2 FL712151003 Monetary authority 304.0 336.6 216.1 569.1 233.0 205.2 216.1 352.2 1260.9 2

 3 FL762150005 U.S.-chartered depository institutions 143.1 167.0 170.9 191.1 190.5 179.0 170.9 187.5 143.1 3

 4 FL762152005 Federal funds (2) 40.3 38.7 21.5 49.1 34.5 20.5 21.5 19.9 19.9 4

 5 FL762151005 Security repurchase agreements 102.8 128.4 149.4 142.1 156.0 158.5 149.4 167.6 123.2 5

 6 FL752150005 Foreign banking offices in U.S. 503.6 550.0 545.0 597.2 498.2 540.9 545.0 527.1 542.0 6

 7 FL752152005 Federal funds (2) 17.9 19.2 12.3 25.7 21.9 18.1 12.3 24.4 30.2 7

 8 FL752151005 Security repurchase agreements 485.7 530.8 532.6 571.5 476.2 522.8 532.6 502.8 511.7 8

 9 FL472150053 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL512151003 Property-casualty insurance companies 0.2 0.2 0.2 0.2 0.3 0.3 0.2 0.3 0.3 10

 11 FL542151073 Life insurance companies 24.1 17.5 18.6 25.4 21.4 25.5 18.6 15.2 15.4 11

 12 FL402150005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 12

 13 FL642151073 REITs 307.6 379.3 221.7 259.8 229.8 220.3 221.7 218.4 210.8 13

 14 FL662151003 Brokers and dealers 1698.4 1755.0 1774.2 1815.9 1680.4 1713.2 1774.2 1573.6 1550.5 14

 15 FL732151003 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 15

 16 FL262151003 Rest of the world 989.6 1225.7 1287.1 1329.9 1241.5 1216.1 1287.1 1153.9 1122.3 16

 17 FL892050005 Total assets 4452.1 5137.8 4890.4 5547.1 4768.2 4741.6 4890.4 4569.4 5248.7 17

 18 FL102051003 Nonfinancial corporate business 14.6 13.4 39.8 27.4 32.4 30.3 39.8 23.9 39.0 18

 19 FL212051003 State and local governments 164.9 163.6 182.9 161.4 174.2 178.9 182.9 189.1 195.5 19

 20 FL712051000 Monetary authority 0.0 255.6 0.0 262.7 58.0 0.0 0.0 0.0 0.0 20

 21 FL762050005 U.S.-chartered depository institutions 382.8 358.5 538.3 331.3 560.3 498.1 538.3 294.3 300.2 21

 22 FL762052005 Federal funds (2) 20.3 24.2 25.5 21.3 32.1 19.9 25.5 27.6 27.4 22

 23 FL762051005 Security repurchase agreements 362.5 334.3 512.8 309.9 528.2 478.2 512.8 266.7 272.7 23

 24 FL752050005 Foreign banking offices in U.S. 319.0 379.0 323.7 327.2 302.2 336.1 323.7 272.2 276.2 24

 25 FL752052005 Federal funds (2) 1.2 0.3 0.3 0.6 1.1 1.3 0.3 1.0 0.1 25

 26 FL752051005 Security repurchase agreements 317.8 378.7 323.3 326.6 301.1 334.9 323.3 271.2 276.1 26

 27 FL472050053 Credit unions 0.2 0.8 0.5 0.8 0.8 0.8 0.5 0.5 0.3 27

 28 FL472052053 Federal funds 0.1 0.3 0.1 0.3 0.1 0.2 0.1 0.1 0.1 28

 29 FL472051053 Security repurchase agreements 0.0 0.6 0.4 0.5 0.6 0.6 0.4 0.4 0.1 29

 30 FL512051005 Property-casualty insurance companies 1.3 2.0 2.2 2.3 3.0 3.1 2.2 2.3 2.5 30

 31 FL542051075 Life insurance companies 2.2 6.3 8.2 9.6 8.5 10.6 8.2 7.0 7.1 31

 32 FL572051005 Private pension funds 2.5 15.8 21.1 16.7 18.1 19.5 21.1 21.9 23.4 32

 33 FL222051043 State and local govt. retirement funds 4.5 7.0 8.1 6.5 4.0 2.6 8.1 20.0 24.1 33

 34 FL632051000 Money market funds 1019.5 1175.1 1006.3 1468.4 906.1 997.2 1006.3 1055.8 1585.6 34

 35 FL652051003 Mutual funds 81.7 102.8 108.2 107.3 104.1 96.7 108.2 114.6 117.3 35

 36 FL402050005 Government-sponsored enterprises 170.6 195.2 212.5 153.9 225.0 206.9 212.5 146.8 256.8 36

 37 FL402052033 Of which: FHLB federal funds (3) 54.2 51.4 31.5 74.4 53.7 44.5 31.5 54.3 47.9 37

 38 FL662051003 Brokers and dealers 1315.2 1396.0 1322.1 1483.0 1282.2 1279.0 1322.1 1238.0 1133.4 38

 39 FL732051003 Holding companies 1.6 2.0 41.4 2.0 21.8 36.5 41.4 29.4 15.8 39

 40 FL502051003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 FL262051005 Rest of the world 971.5 1064.8 1075.2 1186.5 1067.6 1045.3 1075.2 1153.5 1271.6 41

 42 FL902050005 Discrepancy -481.6 -706.4 -656.6 -758.5 -673.2 -641.0 -656.6 -541.0 -403.3 42

 Memo:

 43 FL072052006 Effective federal funds rate (percent) (4) 2.27 1.55 0.09 0.65 0.08 0.09 0.09 0.07 0.08 43

 Federal Reserve’s reverse repurchase agreement operations:

 44 FL712151103 Liability: Monetary authority (5) 41.8 64.1 9.7 284.9 1.0 0.9 9.7 134.3 991.9 44

 45 FL632051103 Asset: Money market funds (6) 39.7 46.9 9.7 284.9 1.0 0.9 9.7 125.3 855.1 45

 46 FL792051115 Other financial institutions (7) 2.2 17.2 0.0 0.0 0.0 0.0 0.0 9.0 136.8 46

(1) Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 1997:Q1 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) The effective federal funds rate is a weighted average of rates on brokered trades. Annualized using a 360-day year.

(5) Included in line 2.

(6) Included in line 34.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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L.208 Debt Securities (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 By instrument

 1 FL894122005 Total debt securities 44455.6 46681.1 53065.7 47698.3 51162.3 51874.2 53065.7 53792.7 54539.2 1

 2 FL893169175 Open market paper 996.0 1045.2 986.9 1088.8 1006.6 956.9 986.9 1105.1 1085.2 2

 3 FL313161105 Treasury securities 17842.1 19018.7 23600.9 19518.4 22370.7 22900.4 23600.9 23943.0 24301.5 3

 4 FL893161705 Agency- and GSE-backed securities 9112.6 9429.5 10086.7 9769.1 9743.7 9866.2 10086.7 10226.4 10407.5 4

 5 FL383162005 Municipal securities 3860.5 3869.5 3952.9 3875.5 3895.4 3929.7 3952.9 3979.7 4002.4 5

 6 FL893163005 Corporate and foreign bonds 12644.5 13318.1 14438.4 13446.5 14145.9 14220.9 14438.4 14538.4 14742.6 6

 By sector

 7 FL894122005 Total liabilities 44455.6 46681.1 53065.7 47698.3 51162.3 51874.2 53065.7 53792.7 54539.2 7

 8 FL384122005 Domestic nonfinancial sectors 27464.5 28903.4 34181.0 29640.7 32872.7 33450.7 34181.0 34666.2 35054.8 8

 9 FL163162003 Nonprofit organizations (2) 216.0 212.8 202.8 209.8 207.6 206.3 202.8 203.5 203.3 9

 10 FL104122005 Nonfinancial corporate business 6310.2 6580.5 7198.2 6814.7 7175.9 7191.5 7198.2 7315.3 7327.9 10

 11 FL314122005 Federal government 17865.0 19039.9 23621.1 19539.6 22391.7 22920.6 23621.1 23962.8 24321.4 11

 12 FL213162005 State and local governments 3073.2 3070.2 3158.9 3076.5 3097.6 3132.3 3158.9 3184.6 3202.3 12

 13 FL794122005 Domestic financial sectors 13585.1 13977.3 14874.6 14593.0 14564.8 14599.2 14874.6 15065.7 15356.5 13

 14 FL764122005 U.S.-chartered depository institutions 247.5 209.7 268.5 232.9 242.3 251.4 268.5 278.7 276.4 14

 15 FL753169175 Foreign banking offices in U.S. 40.8 38.5 35.4 51.1 43.3 36.2 35.4 39.8 40.7 15

 16 FL403161705 Government-sponsored enterprises 6797.3 7002.2 7638.1 7318.1 7305.1 7417.7 7638.1 7775.1 7928.1 16

 17 FL413065005 Agency- and GSE-backed mortgage pools 2292.3 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 17

 18 FL674122005 ABS issuers 1120.9 1180.7 1225.2 1233.6 1221.8 1220.8 1225.2 1229.4 1249.0 18

 19 FL614122005 Finance companies 879.2 835.4 815.2 859.4 849.0 816.4 815.2 809.1 814.7 19

 20 FL644122005 REITs 470.0 539.3 581.5 529.9 566.2 574.6 581.5 587.7 611.4 20

 21 FL663163003 Brokers and dealers 184.0 174.0 183.9 256.9 179.7 165.4 183.9 196.3 204.5 21

 22 FL734122005 Holding companies 1401.7 1445.7 1577.5 1538.2 1606.9 1569.1 1577.5 1538.0 1617.7 22

 23 FL504122005 Other financial business 151.4 145.7 121.0 143.1 132.9 119.2 121.0 180.1 154.6 23

 24 LM264122005 Rest of the world 3406.1 3800.4 4010.1 3464.6 3724.8 3824.3 4010.1 4060.8 4127.9 24

 25 FL894022005 Total assets 43710.6 47789.8 55690.5 49191.6 53493.1 54151.5 55690.5 54933.2 56192.4 25

 26 FL384022005 Domestic nonfinancial sectors 6288.9 6786.1 6878.0 6768.8 6673.7 6462.8 6878.0 6260.2 6340.0 26

 27 LM154022005 Household sector 4424.1 4727.1 4492.7 4573.8 4316.5 4111.8 4492.7 3953.5 3772.1 27

 28 LM104022005 Nonfinancial corporate business 253.2 326.6 381.0 374.5 394.9 391.4 381.0 349.5 380.0 28

 29 LM114022005 Nonfinancial noncorporate business 75.8 80.0 86.6 82.6 85.8 86.8 86.6 84.0 84.3 29

 30 FL314022005 Federal government 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 30

 31 LM214022005 State and local governments 1535.2 1651.8 1917.2 1737.4 1876.0 1872.3 1917.2 1872.8 2103.1 31

 32 FL794022005 Domestic financial sectors 26235.7 28757.5 35906.3 30245.6 34118.7 34965.7 35906.3 35988.7 36851.9 32

 33 LM714022005 Monetary authority 3982.6 4011.9 7422.2 5312.9 6847.7 7163.7 7422.2 7548.3 8010.8 33

 34 LM764022005 U.S.-chartered depository institutions 3760.5 4083.6 5124.6 4272.2 4588.7 4867.1 5124.6 5485.8 5741.0 34

 35 LM754022005 Foreign banking offices in U.S. 318.1 309.0 313.5 340.2 334.4 319.4 313.5 284.7 289.4 35

 36 LM744022003 Banks in U.S.-affiliated areas 19.5 33.6 41.3 34.0 38.8 39.3 41.3 43.8 42.4 36

 37 LM474022005 Credit unions 201.8 221.3 311.1 235.2 267.5 290.9 311.1 374.2 380.4 37

 38 LM514022005 Property-casualty insurance companies 1118.6 1192.8 1270.2 1184.1 1248.6 1270.6 1270.2 1243.6 1296.6 38

 39 LM544022005 Life insurance companies 3509.2 4023.0 4431.5 3964.5 4257.3 4345.0 4431.5 4221.9 4333.3 39

 40 LM574022005 Private pension funds 1416.1 1565.8 1723.7 1601.1 1678.3 1692.0 1723.7 1642.7 1694.6 40

 41 LM344022005 Federal government retirement funds 2061.7 2177.4 2326.5 2181.6 2185.0 2232.0 2326.5 2317.5 2332.4 41

 42 LM224022045 State and local govt. retirement funds 975.6 970.9 1068.0 977.2 1003.3 1026.3 1068.0 1059.1 1108.8 42

 43 FL634022005 Money market funds 1862.3 2181.3 3185.3 2568.7 3544.2 3290.6 3185.3 3234.3 2864.5 43

 44 LM654022005 Mutual funds 4557.2 5216.2 5681.7 4861.5 5158.6 5460.7 5681.7 5736.3 5904.0 44

 45 LM554022005 Closed-end funds 161.0 171.5 176.0 151.8 162.2 166.4 176.0 178.5 182.5 45

 46 LM564022005 Exchange-traded funds 636.1 825.0 1065.5 830.5 944.1 1007.1 1065.5 1079.9 1156.7 46

 47 LM404022005 Government-sponsored enterprises 408.3 467.7 520.1 484.2 547.9 557.0 520.1 471.9 450.5 47

 48 FL674022005 ABS issuers 20.4 33.0 30.3 32.0 30.6 29.5 30.3 28.6 27.4 48

 49 LM613063003 Finance companies 55.3 60.0 73.6 58.8 68.2 69.9 73.6 70.8 81.1 49

 50 LM644022005 REITs 324.5 386.7 236.7 246.3 241.7 234.7 236.7 223.6 216.3 50

 51 LM664022005 Brokers and dealers 478.9 450.2 415.9 515.2 514.4 452.3 415.9 189.0 218.3 51

 52 LM734022605 Holding companies 92.2 126.7 122.4 121.4 125.1 116.1 122.4 145.5 144.1 52

 53 FL504022005 Other financial business 275.7 250.0 366.1 272.2 332.2 334.9 366.1 408.6 377.0 53

 54 LM264022005 Rest of the world 11186.0 12246.3 12906.1 12177.2 12700.8 12723.0 12906.1 12684.4 13000.5 54

 55 LM904022005 Discrepancy (3) 745.0 -1108.7 -2624.7 -1493.4 -2330.9 -2277.3 -2624.7 -1140.6 -1653.2 55

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.

(2) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

(3) The accumulated valuation difference between issuance and holdings.
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L.209 Open Market Paper

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893169175 Total liabilities 996.0 1045.2 986.9 1088.8 1006.6 956.9 986.9 1105.1 1085.2 1

 2 FL893169105 Commercial paper 996.0 1045.2 986.9 1088.8 1006.6 956.9 986.9 1105.1 1085.2 2

 3 FL103169100 Nonfinancial corporate business 196.5 194.5 132.2 243.1 166.1 122.2 132.2 144.1 133.9 3

 4 FL263169105 Foreign issues in U.S. 368.3 452.8 463.8 423.6 437.4 456.0 463.8 506.0 523.8 4

 5 FL263169110 Nonfinancial 51.5 57.8 48.8 63.9 72.2 61.2 48.8 52.1 58.5 5

 6 FL263169123 Financial 316.8 395.0 415.0 359.7 365.2 394.8 415.0 453.8 465.3 6

 7 FL793169100 Financial business 431.2 397.9 390.9 422.0 403.1 378.7 390.9 455.0 427.5 7

 8 FL763169103 U.S.-chartered depository institutions 87.5 68.4 98.0 80.0 84.5 89.5 98.0 103.8 102.6 8

 9 FL753169103 Foreign banking offices in U.S. 40.8 38.5 35.4 51.1 43.3 36.2 35.4 39.8 40.7 9

 10 FL673169105 ABS issuers 80.9 75.9 89.5 80.7 86.7 87.8 89.5 84.2 82.1 10

 11 FL613169100 Finance companies 64.6 63.5 41.8 61.7 50.8 42.5 41.8 41.7 41.0 11

 12 FL643169173 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL733169103 Holding companies 5.9 5.9 5.2 5.4 4.9 3.6 5.2 5.5 6.5 13

 14 FL503169105 Other financial business 151.4 145.7 121.0 143.1 132.9 119.2 121.0 180.1 154.6 14

 15 FL703169605 Bankers’ acceptances (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL763169603 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FL753169603 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL893169175 Total assets 996.0 1045.2 986.9 1088.8 1006.6 956.9 986.9 1105.1 1085.2 18

 19 FL103069100 Nonfinancial corporate business 162.1 217.6 255.7 227.8 219.9 238.4 255.7 239.1 275.3 19

 20 FL213069103 State and local governments 78.2 77.6 79.2 76.5 75.1 77.3 79.2 83.1 89.1 20

 21 FL713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL763069175 U.S.-chartered depository institutions (1) 0.0 0.0 2.0 27.5 11.8 3.9 2.0 0.1 0.0 22

 23 FL753069603 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL473069153 Credit unions 0.2 0.7 0.3 1.2 0.7 0.3 0.3 0.2 0.1 24

 25 FL513069105 Property-casualty insurance companies 9.2 9.7 8.9 11.1 13.4 13.3 8.9 9.2 10.2 25

 26 FL543069105 Life insurance companies 33.1 28.8 34.0 38.3 34.8 40.4 34.0 31.1 31.8 26

 27 FL573069105 Private pension funds 37.6 35.1 34.6 35.5 35.3 35.0 34.6 34.2 33.7 27

 28 FL223069143 State and local govt. retirement funds 52.1 10.8 8.9 13.9 9.1 9.2 8.9 16.7 17.6 28

 29 FL633069175 Money market funds 193.7 237.2 173.4 225.4 219.0 177.9 173.4 182.8 146.8 29

 30 FL653069100 Mutual funds 81.7 102.8 108.2 107.3 104.1 96.7 108.2 114.6 117.3 30

 31 FL403069105 Government-sponsored enterprises 6.9 7.1 7.3 8.2 7.5 6.2 7.3 7.0 5.4 31

 32 FL663069103 Brokers and dealers 11.4 8.5 8.2 20.7 13.0 11.0 8.2 9.2 11.7 32

 33 FL503069105 Other financial business 205.0 179.1 180.9 195.4 156.5 159.2 180.9 276.1 241.4 33

 34 LM263069103 Rest of the world 124.7 130.2 85.3 99.9 106.3 88.2 85.3 101.8 104.8 34

(1) Excludes banks’ holdings of own acceptances.
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L.210 Treasury Securities (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL313161105 Total liabilities 17842.1 19018.7 23600.9 19518.4 22370.7 22900.4 23600.9 23943.0 24301.5 1

 2 FL313161205 Marketable Treasury securities 15566.2 16628.9 20946.2 17115.8 19867.0 20340.2 20946.2 21347.4 21699.0 2

 3 FL313161110 Treasury bills 2339.4 2416.4 4963.1 2657.1 5078.8 5028.1 4963.1 4667.8 4273.7 3

 4 FL313161275 Other Treasury notes, bonds, and TIPS 13216.5 14203.7 15975.8 14449.9 14780.9 15304.8 15975.8 16672.3 17419.3 4

 5 FL313161283 Held in the Civil Service Retirement Fund (2) 10.3 8.8 7.3 8.8 7.3 7.3 7.3 7.3 6.1 5

 6 FL313161305 Nonmarketable Treasury securities 2275.9 2389.8 2654.7 2402.6 2503.6 2560.2 2654.7 2595.6 2602.5 6

 7 FL313161400 U.S. savings securities 155.8 151.3 147.0 150.0 149.7 148.6 147.0 145.7 144.6 7

 8 FL213061120 State and local government series (SLGS) 66.2 77.8 115.8 84.4 89.2 106.6 115.8 121.7 122.8 8

 9 FL343061123 Thrift Savings Plan G Fund 253.4 250.8 292.7 267.4 278.2 287.1 292.7 292.3 295.0 9

 10 FL343061145 Federal govt. defined benefit pension plans 1763.9 1877.2 1980.8 1867.0 1857.8 1894.2 1980.8 1974.6 1987.6 10

 11 FL503061303 Held by Federal Reserve credit facility LLCs 0.0 0.0 95.7 0.0 95.6 95.7 95.7 42.6 34.1 11

 12 FL313161375 Other nonmarketable securities 36.6 32.7 22.7 33.8 33.1 28.1 22.7 18.8 18.5 12

 13 FL893061105 Total assets 17607.5 19335.2 24646.6 20614.7 23438.9 23915.1 24646.6 24322.2 24858.6 13

 14 LM153061105 Household sector 1659.2 1775.1 1747.5 1424.1 1322.4 1395.4 1747.5 1505.3 1357.4 14

 15 FL313161400 U.S. savings securities (line 7) 155.8 151.3 147.0 150.0 149.7 148.6 147.0 145.7 144.6 15

 16 LM153061185 Other Treasury securities 1503.4 1623.8 1600.5 1274.1 1172.7 1246.8 1600.5 1359.6 1212.8 16

 17 LM103061103 Nonfinancial corporate business 54.4 63.6 75.2 92.2 112.9 96.2 75.2 64.0 59.5 17

 18 LM113061003 Nonfinancial noncorporate business 70.2 74.1 80.2 76.5 79.4 80.4 80.2 77.4 77.7 18

 19 LM213061105 State and local governments 713.2 793.1 1111.9 862.1 1032.8 1057.7 1111.9 1112.1 1326.2 19

 20 FL213061120 SLGS (line 8) 66.2 77.8 115.8 84.4 89.2 106.6 115.8 121.7 122.8 20

 21 LM213061103 Other Treasury securities 647.0 715.4 996.1 777.7 943.6 951.1 996.1 990.4 1203.5 21

 22 LM713061103 Monetary authority 2338.0 2540.7 5254.6 3757.4 4807.9 5056.0 5254.6 5273.2 5596.5 22

 23 LM713061113 Treasury bills 0.0 168.5 326.0 325.9 325.9 326.0 326.0 326.0 326.0 23

 24 LM713061125 Other Treasury securities 2338.0 2372.3 4928.6 3431.5 4481.9 4730.0 4928.6 4947.2 5270.5 24

 25 LM763061100 U.S.-chartered depository institutions 569.8 704.1 1044.1 724.4 926.7 1019.5 1044.1 1111.0 1195.5 25

 26 LM753061103 Foreign banking offices in U.S. 125.6 121.1 99.8 116.4 117.1 109.0 99.8 78.4 83.8 26

 27 LM743061103 Banks in U.S.-affiliated areas 10.2 16.6 13.8 14.7 17.6 15.1 13.8 15.3 15.5 27

 28 LM473061105 Credit unions 31.1 37.5 45.5 38.7 42.2 43.4 45.5 50.8 54.1 28

 29 LM513061105 Property-casualty insurance companies 156.8 153.4 157.5 163.1 167.4 170.7 157.5 162.7 182.9 29

 30 LM513061115 Treasury bills 46.2 37.4 51.9 46.9 62.9 69.6 51.9 53.7 59.7 30

 31 LM513061125 Other Treasury securities 110.6 116.0 105.6 116.2 104.4 101.1 105.6 109.0 123.1 31

 32 LM543061105 Life insurance companies 203.7 215.3 240.7 233.2 235.2 242.6 240.7 225.4 233.4 32

 33 LM543061115 Treasury bills 8.7 9.3 15.6 15.1 14.4 19.1 15.6 13.5 13.8 33

 34 LM543061125 Other Treasury securities 195.0 206.0 225.1 218.0 220.9 223.5 225.1 211.9 219.6 34

 35 LM573061105 Private pension funds 371.9 440.0 555.1 505.5 524.5 543.0 555.1 533.1 558.6 35

 36 LM573061143 Defined benefit plans 225.4 269.8 301.9 295.8 298.7 301.5 301.9 288.3 297.6 36

 37 LM573061133 Defined contribution plans 146.6 170.2 253.2 209.7 225.8 241.6 253.2 244.9 261.0 37

 38 LM343061105 Federal government retirement funds (3) 2039.6 2151.3 2297.4 2157.8 2158.7 2204.5 2297.4 2289.7 2304.3 38

 39 LM343061165 Defined benefit plans 1775.8 1887.7 1989.3 1877.1 1866.5 1902.7 1989.3 1983.1 1994.9 39

 40 LM343061155 Defined contribution plans 263.8 263.6 308.2 280.7 292.2 301.9 308.2 306.6 309.3 40

 41 LM223061143 State and local govt. retirement funds 367.9 344.2 354.2 336.8 306.3 327.0 354.2 374.6 400.7 41

 42 FL633061105 Money market funds 873.5 1036.5 2256.4 1267.8 2349.8 2275.2 2256.4 2362.5 2107.1 42

 43 FL633061110 Treasury bills 590.9 622.0 1821.1 817.3 1873.2 1845.2 1821.1 1845.8 1588.5 43

 44 FL633061120 Other Treasury securities 282.6 414.5 435.3 450.5 476.5 429.9 435.3 516.7 518.6 44

 45 LM653061105 Mutual funds 1146.4 1310.9 1293.6 1114.1 1206.8 1253.7 1293.6 1299.7 1329.9 45

 46 LM653061113 Treasury bills 93.2 45.3 45.7 39.8 44.6 44.3 45.7 43.0 40.2 46

 47 LM653061125 Other Treasury securities 1053.1 1265.6 1247.9 1074.4 1162.2 1209.4 1247.9 1256.7 1289.7 47

 48 LM553061103 Closed-end funds 3.5 3.2 3.0 2.7 2.8 2.9 3.0 3.0 3.1 48

 49 LM563061103 Exchange-traded funds 178.7 231.8 276.4 262.9 271.3 276.3 276.4 279.8 298.4 49

 50 LM403061105 Government-sponsored enterprises 120.0 175.8 259.2 194.5 257.0 279.1 259.2 224.9 210.9 50

 51 FL673061103 ABS issuers 20.4 33.0 30.3 32.0 30.6 29.5 30.3 28.6 27.4 51

 52 LM663061105 Brokers and dealers 250.4 213.8 222.1 234.8 273.0 219.1 222.1 95.5 113.0 52

 53 LM733061103 Holding companies 33.0 55.8 61.6 53.4 54.4 53.9 61.6 84.2 86.5 53

 54 FL503061303 Other financial business 0.0 0.0 95.7 0.0 95.6 95.7 95.7 42.6 34.1 54

 55 LM263061105 Rest of the world 6270.1 6844.2 7070.8 6949.5 7046.6 7069.2 7070.8 7028.4 7202.2 55

 56 LM263061110 Treasury bills 746.7 716.1 1027.3 729.5 1040.6 1017.3 1027.3 966.5 925.3 56

 57 LM263061120 Other Treasury securities 5523.5 6128.1 6043.4 6220.0 6005.9 6051.9 6043.4 6061.9 6276.9 57

 58 LM903061103 Discrepancy (4) 234.6 -316.5 -1045.7 -1096.2 -1068.2 -1014.6 -1045.7 -379.2 -557.1 58

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds. In the Financial

 Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as opposed to intragovernmental

 holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.

(3) Comprised primarily of nonmarketable Treasury securities.

(4) The accumulated valuation difference between issuance and holdings.
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120 Z.1, September 23, 2021

L.211 Agency- and GSE-Backed Securities (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893161705 Total liabilities 9112.6 9429.5 10086.7 9769.1 9743.7 9866.2 10086.7 10226.4 10407.5 1

 2 FL313161705 Budget agencies 22.9 21.2 20.2 21.2 21.0 20.2 20.2 19.8 19.8 2

 3 FL403161705 Government-sponsored enterprises 6797.3 7002.2 7638.1 7318.1 7305.1 7417.7 7638.1 7775.1 7928.1 3

 4 FL413065005 Agency- and GSE-backed mortgage pools 2292.3 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 4

 5 FL893061705 Total assets 9085.7 9686.6 10415.8 10237.5 10178.3 10231.9 10415.8 10373.2 10600.8 5

 6 LM153061705 Household sector 587.9 685.4 314.8 695.0 443.7 371.3 314.8 212.0 246.7 6

 7 LM103061703 Nonfinancial corporate business 18.1 21.2 25.1 30.7 37.6 32.1 25.1 21.3 19.8 7

 8 FL313061703 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 LM213061703 State and local governments 518.4 539.3 466.5 560.8 503.0 483.3 466.5 432.3 427.6 9

 10 LM713061705 Monetary authority 1644.6 1471.1 2167.7 1555.5 2039.9 2107.8 2167.7 2275.1 2414.3 10

 11 LM763061705 U.S.-chartered depository institutions 2239.3 2408.2 3061.0 2582.8 2650.3 2804.6 3061.0 3233.4 3357.0 11

 12 LM753061703 Foreign banking offices in U.S. 42.9 53.2 60.7 59.4 59.7 56.1 60.7 61.0 58.6 12

 13 LM743061703 Banks in U.S.-affiliated areas 8.0 8.0 15.0 7.2 9.1 12.2 15.0 16.6 17.1 13

 14 LM473061705 Credit unions 155.3 165.0 239.0 174.4 201.8 222.7 239.0 293.9 296.9 14

 15 LM513061705 Property-casualty insurance companies 127.0 149.7 145.3 151.0 143.9 148.7 145.3 139.5 136.6 15

 16 LM543061705 Life insurance companies 364.9 388.4 366.4 397.5 381.9 377.4 366.4 348.9 348.2 16

 17 LM573061705 Private pension funds 205.0 224.1 252.3 245.9 238.0 244.8 252.3 250.2 260.3 17

 18 LM343061705 Federal government retirement funds 8.8 10.5 11.7 10.1 10.7 11.0 11.7 11.3 11.3 18

 19 LM223061743 State and local govt. retirement funds 141.8 167.6 193.2 178.9 186.1 197.4 193.2 191.8 200.9 19

 20 FL633061700 Money market funds 644.9 755.1 630.3 931.1 826.2 699.8 630.3 572.7 499.4 20

 21 LM653061703 Mutual funds 603.6 654.0 696.6 682.8 553.4 663.0 696.6 699.8 713.1 21

 22 LM403061705 Government-sponsored enterprises 258.0 265.1 237.3 263.8 265.4 254.5 237.3 224.4 218.9 22

 23 FL673061703 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 LM643061773 REITs 273.7 334.5 208.5 210.5 209.9 206.6 208.5 197.5 187.6 24

 25 LM663061705 Brokers and dealers 117.2 139.3 95.0 175.1 142.6 119.6 95.0 4.9 12.4 25

 26 LM733061703 Holding companies 39.3 43.1 33.8 41.2 38.7 36.5 33.8 30.7 29.1 26

 27 LM263061705 Rest of the world 1087.0 1203.8 1195.7 1283.6 1236.4 1182.5 1195.7 1156.1 1144.9 27

 28 LM903061703 Discrepancy (2) 26.9 -257.1 -329.2 -468.4 -434.6 -365.7 -329.2 -146.8 -193.3 28

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by Ginnie Mae, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are

 considered officially to be part of the total debt of the federal government, which is shown on table L.106, line 20.

(2) The accumulated valuation difference between issuance and holdings.
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Z.1, September 23, 2021 121

L.212 Municipal Securities

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL383162005 Total liabilities 3860.5 3869.5 3952.9 3875.5 3895.4 3929.7 3952.9 3979.7 4002.4 1

 2 FL213162005 State and local governments 3073.2 3070.2 3158.9 3076.5 3097.6 3132.3 3158.9 3184.6 3202.3 2

 3 FL213162400 Short-term (1) 38.0 44.8 46.7 43.0 41.2 44.8 46.7 43.3 36.8 3

 4 FL213162200 Long-term 3035.1 3025.4 3112.2 3033.5 3056.4 3087.5 3112.2 3141.2 3165.5 4

 5 FL163162003 Nonprofit organizations (2) 216.0 212.8 202.8 209.8 207.6 206.3 202.8 203.5 203.3 5

 6 FL103162000 Nonfinancial corporate business 571.3 586.5 591.2 589.1 590.2 591.1 591.2 591.6 596.8 6

 (industrial revenue bonds)

 7 FL893062005 Total assets 4000.8 4161.1 4316.3 4092.4 4190.3 4246.8 4316.3 4297.6 4358.7 7

 8 LM153062005 Household sector 1882.2 1904.9 1923.3 1882.5 1904.9 1911.5 1923.3 1883.5 1878.4 8

 9 LM103062003 Nonfinancial corporate business 18.5 24.2 25.1 23.8 24.4 24.7 25.1 25.0 25.3 9

 10 LM113062003 Nonfinancial noncorporate business 5.6 5.9 6.4 6.1 6.4 6.4 6.4 6.6 6.6 10

 11 LM213062003 State and local governments 16.8 16.7 18.6 16.5 17.8 18.2 18.6 19.5 20.2 11

 12 LM763062000 U.S.-chartered depository institutions 499.8 471.7 512.6 484.0 501.5 504.9 512.6 516.8 529.6 12

 13 LM753062003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 LM743062003 Banks in U.S.-affiliated areas 1.2 1.2 0.1 1.2 1.2 1.0 0.1 0.1 0.1 14

 15 LM473062005 Credit unions 4.8 5.5 10.1 6.3 7.4 8.6 10.1 10.9 11.5 15

 16 LM513062005 Property-casualty insurance companies 291.6 285.2 297.9 281.5 287.5 291.1 297.9 294.3 296.9 16

 17 LM543062005 Life insurance companies 190.0 215.0 234.2 214.8 222.1 227.4 234.2 231.6 234.1 17

 18 LM343062033 Federal government retirement funds 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 LM223062043 State and local govt. retirement funds 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL633062000 Money market funds 142.8 134.0 112.6 130.7 136.5 121.4 112.6 103.8 99.2 20

 21 LM653062003 Mutual funds 693.6 831.0 891.3 786.2 814.7 857.5 891.3 913.3 952.4 21

 22 LM553062003 Closed-end funds 88.4 93.2 95.2 89.6 91.8 93.2 95.2 95.3 97.0 22

 23 LM563062003 Exchange-traded funds 37.0 49.3 64.5 49.3 54.3 58.3 64.5 69.2 76.0 23

 24 LM403062005 Government-sponsored enterprises 3.9 3.3 2.8 3.2 3.0 3.0 2.8 2.7 2.6 24

 25 LM663062003 Brokers and dealers 20.7 16.4 6.8 13.7 8.7 10.4 6.8 8.8 10.7 25

 26 FL503062003 Other financial business 0.0 0.0 6.3 0.0 1.2 1.7 6.3 6.1 4.8 26

 27 FL263062003 Rest of the world 99.7 103.7 108.5 102.9 107.0 107.5 108.5 110.2 113.2 27

 28 LM903062003 Discrepancy (3) -140.3 -291.6 -363.4 -216.9 -295.0 -317.1 -363.4 -317.8 -356.3 28

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

(3) The accumulated valuation difference between issuance and holdings.
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122 Z.1, September 23, 2021

L.213 Corporate and Foreign Bonds

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893163005 Total liabilities 12644.5 13318.1 14438.4 13446.5 14145.9 14220.9 14438.4 14538.4 14742.6 1

 2 FL103163003 Nonfinancial corporate business 5542.4 5799.5 6474.9 5982.4 6419.6 6478.2 6474.9 6579.5 6597.1 2

 3 FL793163005 Domestic financial sectors 4064.3 4171.1 4417.3 4423.1 4439.0 4374.4 4417.3 4404.1 4541.4 3

 4 FL763163005 U.S.-chartered depository institutions 160.0 141.3 170.5 152.9 157.8 161.9 170.5 174.8 173.8 4

 5 FL673163005 ABS issuers (net) (1) 1040.0 1104.7 1135.7 1152.9 1135.1 1133.0 1135.7 1145.2 1166.8 5

 6 FL613163005 Finance companies 814.6 771.8 773.4 797.6 798.2 774.0 773.4 767.5 773.7 6

 7 FL643163005 REITs 470.0 539.3 581.5 529.9 566.2 574.6 581.5 587.7 611.4 7

 8 FL663163003 Brokers and dealers 184.0 174.0 183.9 256.9 179.7 165.4 183.9 196.3 204.5 8

 9 FL733163003 Holding companies 1395.8 1439.9 1572.3 1532.8 1602.0 1565.5 1572.3 1532.5 1611.2 9

 10 FL503163003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM263163005 Rest of the world (2) 3037.7 3347.6 3546.3 3041.0 3287.4 3368.3 3546.3 3554.9 3604.1 11

 12 FL893063005 Total assets (3) 12020.7 13561.7 15324.9 13158.4 14679.0 14800.9 15324.9 14835.1 15289.1 12

 13 LM153063005 Household sector 294.8 361.7 507.0 572.2 645.5 433.7 507.0 352.6 289.6 13

 14 FL313063763 Federal government 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 14

 15 LM213063003 State and local governments 208.6 225.1 240.9 221.5 247.2 235.7 240.9 225.7 239.9 15

 16 LM763063005 U.S.-chartered depository institutions 451.6 499.7 504.8 453.4 498.5 534.3 504.8 624.6 659.0 16

 17 LM763063605 MBS and other ABS 77.1 84.9 89.1 87.8 92.2 90.5 89.1 93.5 98.7 17

 18 LM763063095 Other 374.5 414.7 415.6 365.6 406.3 443.8 415.6 531.1 560.3 18

 19 LM753063005 Foreign banking offices in U.S. 149.7 134.7 153.0 164.4 157.7 154.3 153.0 145.3 147.0 19

 20 LM743063005 Banks in U.S.-affiliated areas 0.1 7.8 12.5 10.9 10.9 10.9 12.5 11.8 9.7 20

 21 LM473063005 Credit unions 10.4 12.6 16.2 14.6 15.5 16.0 16.2 18.5 17.8 21

 22 LM473063605 MBS and other ABS 9.9 12.1 15.7 14.1 14.9 15.4 15.7 17.9 17.1 22

 23 LM473063095 Other 0.5 0.5 0.6 0.5 0.5 0.6 0.6 0.7 0.7 23

 24 LM513063005 Property-casualty insurance companies 534.0 594.8 660.7 577.4 636.3 646.8 660.7 637.9 669.9 24

 25 LM513063605 MBS and other ABS 122.8 138.8 154.2 134.8 148.5 151.0 154.2 148.6 155.8 25

 26 LM513063095 Other 411.3 456.0 506.5 442.6 487.8 495.8 506.5 489.3 514.1 26

 27 LM543063005 Life insurance companies 2717.5 3175.5 3556.2 3080.7 3383.2 3457.2 3556.2 3385.0 3485.8 27

 28 LM543063675 MBS and other ABS 498.8 561.3 625.3 541.9 595.6 606.5 625.3 596.6 614.7 28

 29 LM543063095 Other 2218.7 2614.2 2930.9 2538.9 2787.6 2850.8 2930.9 2788.4 2871.1 29

 30 LM573063005 Private pension funds 801.5 866.5 881.8 814.2 880.6 869.2 881.8 825.2 842.0 30

 31 LM343063005 Federal government retirement funds 13.2 15.6 17.3 13.7 15.6 16.5 17.3 16.5 16.7 31

 32 LM223063045 State and local govt. retirement funds 409.8 448.4 511.7 447.6 501.8 492.6 511.7 476.0 489.6 32

 33 FL633063005 Money market funds 7.5 18.5 12.6 13.8 12.7 16.3 12.6 12.5 12.0 33

 34 LM653063005 Mutual funds 2032.0 2317.5 2692.1 2171.0 2479.6 2589.9 2692.1 2709.0 2791.3 34

 35 LM553063003 Closed-end funds 69.2 75.1 77.8 59.5 67.6 70.3 77.8 80.3 82.4 35

 36 LM563063003 Exchange-traded funds 420.5 544.0 724.6 518.3 618.5 672.5 724.6 730.9 782.3 36

 37 LM403063005 Government-sponsored enterprises 19.5 16.5 13.5 14.5 14.9 14.3 13.5 13.0 12.7 37

 38 LM403063605 MBS and other ABS 15.5 12.9 10.2 11.1 11.6 11.0 10.2 9.8 9.5 38

 39 LM403063095 Other 4.1 3.6 3.3 3.4 3.4 3.3 3.3 3.3 3.2 39

 40 LM613063003 Finance companies 55.3 60.0 73.6 58.8 68.2 69.9 73.6 70.8 81.1 40

 41 LM643063005 REITs 50.8 52.2 28.2 35.8 31.8 28.1 28.2 26.1 28.7 41

 42 LM663063005 Brokers and dealers 79.2 72.1 83.9 70.9 77.1 92.1 83.9 70.6 70.4 42

 43 LM733063003 Holding companies 19.9 27.7 27.0 26.8 31.9 25.7 27.0 30.5 28.5 43

 44 FL503063005 Other financial business 70.7 70.9 83.3 76.8 78.9 78.4 83.3 83.9 96.8 44

 45 LM263063005 Rest of the world (4) 3604.4 3964.3 4445.8 3741.4 4204.5 4275.6 4445.8 4287.9 4435.4 45

 46 LM263063603 MBS and other ABS 351.2 338.8 374.3 322.2 329.8 345.2 374.3 392.6 390.3 46

 47 LM263063095 Other 3253.2 3625.5 4071.5 3419.2 3874.7 3930.4 4071.5 3895.3 4045.1 47

 48 LM903063003 Discrepancy (5) 623.8 -243.5 -886.5 288.1 -533.1 -579.9 -886.5 -296.6 -546.5 48

(1) Liabilities net of assets.

(2) Holdings of foreign issues by U.S. residents.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.

(5) The accumulated valuation difference between issuance and holdings.
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L.214 Loans (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 By instrument

 1 FL894123005 Total loans 27233.1 28240.1 29721.5 29390.3 29299.1 29384.5 29721.5 30067.7 30488.3 1

 2 FL793068005 Depository institution loans n.e.c. 3663.8 3803.1 4216.0 4450.7 4479.5 4272.2 4216.0 4239.6 4179.8 2

 3 FL893169005 Other loans and advances 4098.4 4202.0 4546.8 4617.1 4400.5 4422.4 4546.8 4704.9 4778.6 3

 4 FL893065005 Mortgages 15463.8 16042.8 16773.7 16174.6 16321.8 16547.3 16773.7 16955.9 17263.4 4

 5 FL893065105 One-to-four-family residential 10897.7 11188.6 11658.7 11254.9 11341.3 11509.6 11658.7 11790.4 12028.7 5

 6 FL893065405 Multifamily residential 1488.4 1622.6 1755.1 1644.3 1678.0 1709.2 1755.1 1784.8 1810.5 6

 7 FL893065505 Commercial 2832.0 2964.8 3081.1 3005.6 3029.8 3052.9 3081.1 3099.8 3141.1 7

 8 FL893065603 Farm 245.7 266.8 278.7 269.8 272.7 275.7 278.7 280.8 283.0 8

 9 FL153166000 Consumer credit 4007.0 4192.2 4185.0 4147.8 4097.3 4142.7 4185.0 4167.2 4266.5 9

 By sector

 10 FL894123005 Total liabilities 27233.1 28240.1 29721.5 29390.3 29299.1 29384.5 29721.5 30067.7 30488.3 10

 11 FL384123005 Domestic nonfinancial sectors 24609.5 25595.1 27044.3 26243.7 26528.7 26732.1 27044.3 27374.0 27725.8 11

 12 FL154123005 Household sector 15386.6 15887.9 16514.1 15953.1 15962.5 16227.9 16514.1 16707.2 17053.5 12

 13 FL104123005 Nonfinancial corporate business 3339.3 3550.4 3862.0 3978.2 4017.3 3863.9 3862.0 3938.9 3910.6 13

 14 FL114123005 Nonfinancial noncorporate business 5863.6 6135.7 6646.0 6291.2 6527.5 6618.5 6646.0 6705.6 6739.4 14

 15 FL314123005 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL213169203 State and local governments 20.1 21.1 22.1 21.2 21.4 21.8 22.1 22.3 22.3 16

 17 FL794123005 Domestic financial sectors 2027.4 1954.7 1923.6 2367.7 2029.3 1916.3 1923.6 1921.5 1963.1 17

 18 FL763169305 U.S.-chartered depository institutions 577.3 484.9 252.3 615.1 380.3 306.8 252.3 228.6 205.9 18

 19 FL473169333 Credit unions 57.7 52.3 43.3 62.9 50.5 47.7 43.3 40.3 39.2 19

 20 FL513169333 Property-casualty insurance companies 3.3 3.5 10.0 6.0 6.3 11.2 10.0 9.3 8.4 20

 21 FL543169373 Life insurance companies 81.1 88.7 103.9 107.7 108.2 103.6 103.9 112.3 108.8 21

 22 FL403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL614123005 Finance companies 147.7 153.6 178.4 160.6 167.1 175.2 178.4 175.4 216.2 23

 24 FL644123005 REITs 275.2 263.2 255.6 299.2 265.7 253.8 255.6 250.2 248.2 24

 25 FL664123005 Brokers and dealers 882.7 906.1 1037.0 1114.0 1033.7 995.6 1037.0 1064.1 1097.2 25

 26 FL504123005 Other financial business 2.4 2.4 43.0 2.4 17.5 22.3 43.0 41.3 39.2 26

 27 FL264123005 Rest of the world 596.1 690.3 753.6 778.8 741.2 736.1 753.6 772.2 799.4 27

 28 FL894123005 Total assets 27233.1 28240.1 29721.5 29390.3 29299.1 29384.5 29721.5 30067.7 30488.3 28

 29 FL384023005 Domestic nonfinancial sectors 3074.1 3202.5 3576.9 3384.9 3483.2 3537.5 3576.9 3628.6 3658.6 29

 30 FL154023005 Household sector 1115.3 1148.0 1257.4 1303.3 1274.7 1235.5 1257.4 1268.5 1283.0 30

 31 FL104023005 Nonfinancial corporate business 70.7 72.2 74.6 71.7 72.4 73.2 74.6 74.1 74.8 31

 32 FL114023005 Nonfinancial noncorporate business 49.0 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 32

 33 FL314023005 Federal government 1580.5 1674.0 1927.2 1703.4 1824.4 1913.1 1927.2 1964.8 1978.4 33

 34 FL213065005 State and local governments 258.6 256.5 261.7 253.1 256.3 259.5 261.7 263.6 264.6 34

 35 FL794023005 Domestic financial sectors 23425.7 24206.8 25239.0 25127.6 24933.9 24956.9 25239.0 25503.5 25878.3 35

 36 FL713068005 Monetary authority 0.0 0.0 52.2 58.7 30.9 31.7 52.2 58.7 86.2 36

 37 FL764023005 U.S.-chartered depository institutions 9427.5 9784.9 10074.9 10188.9 10257.4 10132.7 10074.9 10017.3 10041.2 37

 38 FL754023005 Foreign banking offices in U.S. 739.5 767.8 785.6 926.3 859.7 797.6 785.6 768.1 767.2 38

 39 FL744023003 Banks in U.S.-affiliated areas 37.1 40.7 41.6 42.6 44.7 43.3 41.6 39.2 38.3 39

 40 FL474023000 Credit unions 1065.2 1133.6 1193.9 1143.6 1168.1 1186.6 1193.9 1198.0 1223.8 40

 41 FL513065505 Property-casualty insurance companies 20.5 22.9 24.3 23.6 23.7 23.5 24.3 24.3 25.5 41

 42 FL544023005 Life insurance companies 730.5 780.6 807.8 792.8 794.7 796.4 807.8 809.8 820.2 42

 43 FL573065005 Private pension funds 23.8 23.2 17.8 21.5 20.3 19.0 17.8 17.4 16.4 43

 44 FL313169003 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 FL223065043 State and local govt. retirement funds 12.3 8.4 7.8 8.9 8.1 8.4 7.8 8.4 8.2 45

 46 FL653069803 Mutual funds 147.9 114.2 85.2 84.2 84.1 83.4 85.2 100.5 116.9 46

 47 FL404023005 Government-sponsored enterprises 6195.6 6289.3 6706.0 6508.2 6397.4 6506.5 6706.0 6899.9 7075.7 47

 48 FL413065005 Agency- and GSE-backed mortgage pools 2292.3 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 48

 49 FL674023005 ABS issuers 980.5 1020.8 1047.0 1066.5 1053.2 1049.6 1047.0 1043.5 1047.4 49

 50 FL614023005 Finance companies 1046.2 1041.6 1031.7 1043.8 1021.2 1029.0 1031.7 1042.7 1061.1 50

 51 FL643065005 REITs 255.0 273.9 259.2 250.8 248.0 260.1 259.2 265.7 281.6 51

 52 FL663069005 Brokers and dealers 340.5 373.0 538.3 394.6 373.5 440.3 538.3 628.7 651.8 52

 53 FL733069005 Holding companies 104.3 117.7 106.6 128.7 119.0 104.6 106.6 121.2 129.6 53

 54 FL503069005 Other financial business 7.0 8.4 31.0 14.2 12.2 15.7 31.0 28.8 27.6 54

 55 FL263069500 Rest of the world 733.3 830.8 905.6 877.8 882.0 890.1 905.6 935.6 951.3 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
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L.215 Depository Institution Loans Not Elsewhere Classified (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL793068005 Total liabilities 3663.8 3803.1 4216.0 4450.7 4479.5 4272.2 4216.0 4239.6 4179.8 1

 2 FL153168005 Household sector 339.0 350.2 370.5 383.9 375.8 364.6 370.5 369.8 371.5 2

 3 FL103168005 Nonfinancial corporate business 1003.1 1034.0 1111.6 1368.0 1361.6 1164.0 1111.6 1119.8 1023.2 3

 4 FL113168005 Nonfinancial noncorporate business 1465.2 1481.2 1654.5 1569.2 1709.4 1716.8 1654.5 1650.0 1603.3 4

 5 FL793168005 Domestic financial sectors 311.0 305.1 380.7 413.8 347.1 341.7 380.7 383.7 437.7 5

 6 FL613168005 Finance companies 147.1 152.7 177.9 159.6 166.5 174.5 177.9 175.3 216.1 6

 7 FL643168005 REITs 39.6 30.4 29.9 69.5 41.0 28.6 29.9 30.0 28.6 7

 8 FL663168005 Brokers and dealers 124.3 122.0 132.2 184.6 124.5 118.7 132.2 139.4 156.2 8

 9 FL713068505 Other financial business (2) 0.0 0.0 40.7 0.0 15.1 20.0 40.7 38.9 36.9 9

 10 FL263168005 Rest of the world 545.5 632.6 698.6 715.9 685.7 685.0 698.6 716.5 744.1 10

 11 FL263168465 Foreign official institutions 4.3 3.4 2.5 3.1 2.7 2.3 2.5 3.4 3.0 11

 12 FL263168485 Foreign nonfinancial corporations 200.2 195.3 186.5 229.3 223.0 202.8 186.5 189.0 186.8 12

 13 FL263168495 Foreign nondepository financial institutions 341.1 433.9 509.6 483.6 460.1 479.8 509.6 524.1 554.3 13

 14 FL793068005 Total assets 3663.8 3803.1 4216.0 4450.7 4479.5 4272.2 4216.0 4239.6 4179.8 14

 15 FL713068005 Monetary authority (3) 0.0 0.0 52.2 58.7 30.9 31.7 52.2 58.7 86.2 15

 16 FL763068005 U.S.-chartered depository institutions 2927.8 3026.6 3361.8 3458.5 3572.8 3426.5 3361.8 3394.1 3320.3 16

 17 FL753068005 Foreign banking offices in U.S. 661.9 687.4 704.7 843.7 777.7 716.2 704.7 687.8 685.8 17

 18 FL743068005 Banks in U.S.-affiliated areas 13.1 18.1 18.7 20.1 21.7 20.2 18.7 17.4 17.0 18

 19 FL473068005 Credit unions 61.0 71.0 78.7 69.7 76.4 77.6 78.7 81.7 70.5 19

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to Federal Reserve funding, credit, and liquidity facility special purpose vehicles.

(3) Loans from Federal Reserve banks to the household, broker and dealer, finance companies, and other financial business sectors.
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L.216 Other Loans and Advances

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893169005 Total other loans and advances 4098.4 4202.0 4546.8 4617.1 4400.5 4422.4 4546.8 4704.9 4778.6 1

 2 FL313069205 U.S. government loans 220.8 230.7 418.9 227.3 341.7 407.8 418.9 426.3 435.0 2

 3 FL153169203 Liab.: Household sector 34.5 38.9 49.1 40.0 44.4 47.4 49.1 50.1 52.5 3

 4 FL103169205 Nonfinancial corporate business 74.4 78.4 188.9 73.4 143.6 183.8 188.9 192.3 197.1 4

 5 FL113169205 Nonfinancial noncorporate business 58.3 60.9 128.6 62.1 101.9 124.5 128.6 131.0 133.8 5

 6 FL213169203 State and local governments 20.1 21.1 22.1 21.2 21.4 21.8 22.1 22.3 22.3 6

 7 FL403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FL313069223 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FL503169205 Other financial business 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 9

 10 FL263169203 Rest of the world 31.2 29.1 27.8 28.2 28.2 27.9 27.8 28.3 27.0 10

 11 FL313169003 Federal government retirement funds loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL313169003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL263069500 Foreign loans to U.S. corporate business 733.3 830.8 905.6 877.8 882.0 890.1 905.6 935.6 951.3 13

 14 FL263069500 Liab.: Nonfinancial corporate business 733.3 830.8 905.6 877.8 882.0 890.1 905.6 935.6 951.3 14

 Customers’ liability on acceptances outstanding

 15 FL763069703 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL753069703 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FL103169705 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL263169705 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FL733069005 Holding company loans 104.3 117.7 106.6 128.7 119.0 104.6 106.6 121.2 129.6 19

 20 FL733069013 Liab.: Nonfinancial corporate business 84.9 89.1 79.4 94.0 91.7 81.4 79.4 93.7 101.3 20

 21 FL733069023 Rest of the world 19.4 28.6 27.2 34.7 27.4 23.2 27.2 27.5 28.3 21

 22 FL153169405 Policy loans (Household liability) 134.2 131.3 130.8 132.4 131.7 132.2 130.8 130.0 129.3 22

 23 FL313069403 Asset: Federal government 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 23

 24 FL543069405 Life insurance companies 134.0 131.1 130.6 132.2 131.5 132.0 130.6 129.9 129.1 24

 25 FL403069330 Federal Home Loan Banks advances (1) 729.5 638.9 410.3 797.2 547.7 470.4 410.3 390.9 362.6 25

 26 FL763169335 Liab.: U.S.-chartered depository institutions 577.3 484.9 252.3 615.1 380.3 306.8 252.3 228.6 205.9 26

 27 FL473169333 Credit unions 57.7 52.3 43.3 62.9 50.5 47.7 43.3 40.3 39.2 27

 28 FL513169333 Property-casualty insurance companies 3.3 3.5 10.0 6.0 6.3 11.2 10.0 9.3 8.4 28

 29 FL543169373 Life insurance companies 81.1 88.7 103.9 107.7 108.2 103.6 103.9 112.3 108.8 29

 30 FL613169333 Finance companies 0.6 1.0 0.5 0.9 0.6 0.7 0.5 0.1 0.1 30

 31 FL643169373 Real estate investment trusts 9.4 8.5 0.3 4.6 1.7 0.3 0.3 0.3 0.3 31

 32 FL403069395 Government-sponsored enterprise (GSE) loans (2) 132.4 139.7 153.2 143.9 144.0 144.8 153.2 156.5 152.8 32

 33 FL153169305 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 FL183169305 Nonfinancial corporate business (FCS) 12.0 13.0 14.8 14.2 13.2 13.1 14.8 16.3 15.1 34

 35 FL113169305 Nonfinancial noncorporate business (FCS) 120.4 126.7 138.4 129.8 130.8 131.7 138.4 140.1 137.7 35

 36 FL763169383 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FL673069505 Securitized loans held by ABS issuers 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 FL673069505 Liab.: Nonfinancial corporate business 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 FL613069505 Finance company loans to business 397.1 386.7 370.3 400.0 373.1 372.4 370.3 373.6 381.8 39

 40 FL103169535 Liab.: Nonfinancial corporate business 357.3 348.0 326.2 360.0 333.0 329.0 326.2 321.7 307.1 40

 41 FL113169535 Nonfinancial noncorporate business 39.7 38.7 44.0 40.0 40.0 43.4 44.0 51.9 74.7 41

 42 FL663067003 Margin accounts at brokers and dealers 302.3 325.7 482.4 337.7 319.5 385.0 482.4 573.7 595.2 42

 43 FL663067003 Liab.: Household sector 302.3 325.7 482.4 337.7 319.5 385.0 482.4 573.7 595.2 43

 44 FL153067005 Cash accounts at brokers and dealers 758.4 784.0 904.8 929.4 909.2 876.9 904.8 924.7 941.1 44

 45 FL153067005 Asset: Household sector 758.4 784.0 904.8 929.4 909.2 876.9 904.8 924.7 941.1 45

 46 FL103169803 Loans to nonfinancial corporate business (3) 447.5 478.5 506.5 504.8 494.6 495.1 506.5 516.6 545.1 46

 47 FL153069803 Asset: Household sector 102.7 116.6 114.4 129.1 123.5 118.8 114.4 107.1 107.3 47

 48 FL543069873 Life insurance companies 28.4 30.3 32.5 34.0 32.4 31.8 32.5 33.9 35.6 48

 49 FL653069803 Mutual funds 147.9 114.2 85.2 84.2 84.1 83.4 85.2 100.5 116.9 49

 50 FL673069803 ABS issuers 123.3 161.7 207.7 186.5 188.7 195.4 207.7 210.0 219.0 50

 51 FL663069803 Brokers and dealers 38.2 47.3 55.9 56.9 54.0 55.3 55.9 55.0 56.6 51

 52 FL503069805 Other financial business 7.0 8.4 10.9 14.2 11.9 10.3 10.9 10.2 9.7 52

 53 FL503069075 Other financial business loans (4) 0.0 0.0 20.1 0.0 0.3 5.4 20.1 18.6 17.9 53

 54 FL503069003 Liab.: Household sector (TALF II) 0.0 0.0 3.6 0.0 0.3 3.2 3.6 2.1 1.6 54

 55 FL503069013 Nonfinancial corporate business (MSLF) 0.0 0.0 6.0 0.0 0.0 0.8 6.0 5.9 5.9 55

 56 FL503069023 Nonfinancial noncorporate business (MSLF) 0.0 0.0 10.5 0.0 0.0 1.4 10.5 10.5 10.3 56

 57 FL503069033 Nonprofit organizations (MSLF) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

 58 FL163069005 Nonprofit organization loans 138.4 138.1 137.5 137.9 137.8 137.6 137.5 137.1 136.8 58

 59 FL153169055 Liab.: Household sector 109.1 107.9 106.5 107.6 107.2 106.9 106.5 106.0 105.5 59

 60 FL163069043 Nonfinancial noncorporate business 29.3 30.2 30.9 30.4 30.5 30.7 30.9 31.1 31.3 60

(1) The Federal Home Loan Banks are included in the governmnet-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 25.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.

(4) 2020 Term Asset-Backed Securities Loan Facility (TALF II) loans to domestic hedge funds and private equity funds and Main Street Lending Facility (MSLF) loans to nonfinancial businesses.
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L.217 Total Mortgages (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893065005 Total mortgages 15463.8 16042.8 16773.7 16174.6 16321.8 16547.3 16773.7 16955.9 17263.4 1

 2 FL893065105 One-to-four-family residential 10897.7 11188.6 11658.7 11254.9 11341.3 11509.6 11658.7 11790.4 12028.7 2

 3 FL893065405 Multifamily residential 1488.4 1622.6 1755.1 1644.3 1678.0 1709.2 1755.1 1784.8 1810.5 3

 4 FL893065505 Commercial 2832.0 2964.8 3081.1 3005.6 3029.8 3052.9 3081.1 3099.8 3141.1 4

 5 FL893065603 Farm 245.7 266.8 278.7 269.8 272.7 275.7 278.7 280.8 283.0 5

 6 FL893065005 Total liabilities 15463.8 16042.8 16773.7 16174.6 16321.8 16547.3 16773.7 16955.9 17263.4 6

 7 FL153165005 Household sector 10460.5 10741.7 11186.1 10803.7 10886.4 11045.9 11186.1 11308.1 11531.3 7

 8 FL143165005 Nonfinancial business 4777.1 5076.8 5362.1 5145.8 5212.4 5276.5 5362.1 5427.9 5512.8 8

 9 FL103165005 Corporate 626.5 678.7 723.1 686.0 697.6 706.6 723.1 737.0 764.4 9

 10 FL113165005 Noncorporate 4150.7 4398.1 4639.1 4459.8 4514.9 4569.9 4639.1 4691.0 4748.4 10

 11 FL313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL123165005 REITs 226.2 224.3 225.4 225.1 223.0 225.0 225.4 219.9 219.3 12

 13 FL893065005 Total assets 15463.8 16042.8 16773.7 16174.6 16321.8 16547.3 16773.7 16955.9 17263.4 13

 14 FL153065005 Household sector 84.6 82.1 76.6 80.8 79.1 78.0 76.6 75.7 74.2 14

 15 FL103065003 Nonfinancial corporate business 34.2 36.4 38.8 37.0 37.6 38.2 38.8 39.4 40.0 15

 16 FL113065005 Nonfinancial noncorporate business 49.0 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 16

 17 FL313065005 Federal government 123.2 123.8 127.2 125.3 126.7 125.7 127.2 128.2 129.5 17

 18 FL313065015 Ginnie Mae 2.8 2.5 2.3 2.4 2.4 2.3 2.3 2.2 2.1 18

 19 FL313065075 Farmers Home Administration (FmHA) (2) 105.7 105.8 108.3 107.4 108.7 107.3 108.3 109.0 109.4 19

 20 FL313065035 Federal Housing Administration (FHA) 14.6 15.5 16.6 15.5 15.6 16.0 16.6 17.1 18.0 20

 21 FL313065065 Federal Deposit Insurance Corporation 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL313065095 Other (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL213065005 State and local governments 258.6 256.5 261.7 253.1 256.3 259.5 261.7 263.6 264.6 23

 24 FL703065005 Private depository institutions 5442.4 5654.9 5741.4 5704.2 5738.6 5766.7 5741.4 5705.6 5756.5 24

 25 FL763065005 U.S.-chartered depository institutions 4817.7 4987.4 5027.5 5020.5 5040.3 5057.0 5027.5 4990.0 5019.9 25

 26 FL753065005 Foreign banking offices in U.S. 77.6 80.4 80.9 82.6 82.0 81.5 80.9 80.3 81.4 26

 27 FL743065003 Banks in U.S.-affiliated areas 24.1 22.6 22.9 22.5 23.0 23.1 22.9 21.8 21.3 27

 28 FL473065100 Credit unions 523.0 564.5 610.1 578.7 593.4 605.2 610.1 613.4 633.9 28

 29 FL513065505 Property-casualty insurance companies 20.5 22.9 24.3 23.6 23.7 23.5 24.3 24.3 25.5 29

 30 FL543065005 Life insurance companies 568.1 619.2 644.7 626.6 630.9 632.6 644.7 646.0 655.5 30

 31 FL573065005 Private pension funds 23.8 23.2 17.8 21.5 20.3 19.0 17.8 17.4 16.4 31

 32 FL223065043 State and local govt. retirement funds 12.3 8.4 7.8 8.9 8.1 8.4 7.8 8.4 8.2 32

 33 FL403065005 Government-sponsored enterprises 5333.8 5510.7 6142.5 5567.1 5705.8 5891.3 6142.5 6352.5 6560.3 33

 34 FL403065015 Fannie Mae 3223.8 3300.0 3589.9 3330.7 3417.8 3493.7 3589.9 3675.0 3782.6 34

 35 FL403065025 Freddie Mac 1909.8 1993.3 2328.0 2014.8 2063.4 2173.7 2328.0 2453.0 2550.9 35

 36 FL403065045 Farm Credit System 133.6 139.6 154.6 141.3 145.3 149.1 154.6 157.8 162.5 36

 37 FL403065035 FHLB 62.5 72.4 62.8 74.5 72.9 67.9 62.8 59.4 56.5 37

 38 FL403065653 Farmer Mac 4.0 5.4 7.3 5.8 6.5 6.8 7.3 7.3 7.8 38

 39 FL413065005 Agency- and GSE-backed mortgage pools 2292.3 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 39

 40 FL413065015 Ginnie Mae 2042.2 2117.6 2103.4 2138.8 2125.6 2117.7 2103.4 2095.0 2112.3 40

 41 FL413065025 Freddie Mac 241.0 281.0 318.7 284.2 285.6 304.3 318.7 330.3 341.4 41

 42 FL413065045 Fannie Mae 7.5 6.4 5.3 5.8 5.3 5.4 5.3 5.2 5.0 42

 43 FL413065653 Farmer Mac 1.5 1.1 0.9 1.1 1.0 1.0 0.9 0.8 0.9 43

 44 FL413065035 Farmers Home Administration (FmHA) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 FL673065005 ABS issuers 851.2 856.0 837.4 877.2 862.0 852.0 837.4 831.6 826.7 45

 46 FL613065000 Finance companies 114.8 117.2 110.0 115.3 111.8 107.9 110.0 108.6 107.0 46

 47 FL643065005 REITs 255.0 273.9 259.2 250.8 248.0 260.1 259.2 265.7 281.6 47

(1) Sum of one-to-four-family residential mortgages (table L.218), multifamily residential mortgages (table L.219), commercial mortgages (table L.220), and farm mortgages (table L.221).

(2) FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting changes by

 the Farmers Home Administration.

(3) Other includes Department of Veterans Affairs, Federal Financing Bank, Public Housing Administration, and Resolution Trust Corporation.
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L.218 One-to-four-family Residential Mortgages (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893065105 Total liabilities 10897.7 11188.6 11658.7 11254.9 11341.3 11509.6 11658.7 11790.4 12028.7 1

 2 FL153165105 Household sector 10204.4 10482.8 10925.7 10544.4 10626.7 10785.8 10925.7 11047.5 11270.3 2

 3 FL103165105 Nonfinancial corporate business 17.1 17.2 16.7 17.6 17.3 17.0 16.7 16.9 17.7 3

 4 FL113165105 Nonfinancial noncorporate business 676.3 688.6 716.2 693.0 697.2 706.8 716.2 726.0 740.7 4

 5 FL893065105 Total assets 10897.7 11188.6 11658.7 11254.9 11341.3 11509.6 11658.7 11790.4 12028.7 5

 6 FL153065103 Household sector 75.3 71.8 68.3 70.9 70.1 69.2 68.3 67.4 66.6 6

 7 FL103065105 Nonfinancial corporate business 20.5 21.9 23.3 22.2 22.5 22.9 23.3 23.6 24.0 7

 8 FL113065103 Nonfinancial noncorporate business 17.9 18.9 20.4 19.5 20.2 20.5 20.4 21.0 21.0 8

 9 FL313065105 Federal government 29.2 29.2 30.4 29.5 29.5 30.0 30.4 30.6 31.5 9

 10 FL213065103 State and local governments 133.2 132.1 134.1 130.3 131.2 133.0 134.1 134.8 135.3 10

 11 FL763065105 U.S.-chartered depository institutions 2586.0 2638.2 2576.0 2635.6 2626.1 2621.1 2576.0 2528.1 2526.6 11

 12 FL753065103 Foreign banking offices in U.S. 1.6 1.5 1.2 1.4 1.5 1.3 1.2 1.1 1.1 12

 13 FL743065103 Banks in U.S.-affiliated areas 14.1 13.2 13.5 13.0 13.4 13.7 13.5 12.8 12.4 13

 14 FL473065100 Credit unions 523.0 564.5 610.1 578.7 593.4 605.2 610.1 613.4 633.9 14

 15 FL543065105 Life insurance companies 31.5 39.0 40.3 39.5 39.6 39.5 40.3 40.6 41.3 15

 16 FL573065103 Private pension funds 0.8 0.7 0.5 0.6 0.6 0.6 0.5 0.5 0.5 16

 17 FL223065143 State and local govt. retirement funds 4.4 3.0 2.8 3.2 2.9 3.0 2.8 3.0 3.0 17

 18 FL403065105 Government-sponsored enterprises 4883.9 5016.1 5585.0 5066.1 5182.4 5361.3 5585.0 5786.6 5995.3 18

 19 FL413065105 Agency- and GSE-backed mortgage pools 1948.7 2024.8 2009.0 2045.7 2030.9 2023.5 2009.0 1996.4 2012.1 19

 20 FL673065105 ABS issuers 467.6 452.5 414.9 461.2 449.0 436.7 414.9 399.8 388.7 20

 21 FL613065105 Finance companies 87.1 85.4 77.1 83.6 79.1 75.4 77.1 76.1 75.1 21

 22 FL643065105 REITs 72.8 76.0 51.7 53.9 48.8 52.8 51.7 54.5 60.4 22

 Memo:

 23 FL893065125 Home equity loans included above (2) 533.3 501.3 441.8 495.3 475.8 460.3 441.8 421.4 413.7 23

 24 FL763065125 U.S.-chartered depository institutions 420.2 383.6 334.5 378.7 363.1 349.8 334.5 318.2 308.2 24

 25 FL753065203 Foreign banking offices in U.S. 0.2 0.3 0.1 0.3 0.3 0.2 0.1 0.1 0.1 25

 26 FL473065125 Credit unions 89.5 93.0 86.0 92.6 89.9 89.0 86.0 82.7 85.7 26

 27 FL673065123 ABS issuers 6.0 7.4 5.8 7.0 6.6 6.2 5.8 5.3 4.7 27

 28 FL613065123 Finance companies 17.4 17.1 15.4 16.7 15.8 15.1 15.4 15.2 15.0 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

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

 1 FL893065405 Total liabilities 1488.4 1622.6 1755.1 1644.3 1678.0 1709.2 1755.1 1784.8 1810.5 1

 2 FL103165405 Nonfinancial corporate business 73.2 80.0 86.6 81.0 82.7 84.3 86.6 88.0 89.3 2

 3 FL113165405 Nonfinancial noncorporate business 1391.2 1519.8 1644.8 1539.8 1571.5 1601.9 1644.8 1672.9 1696.6 3

 4 FL313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL123165403 REITs 24.0 22.8 23.7 23.4 23.7 22.9 23.7 23.9 24.7 5

 6 FL893065405 Total assets 1488.4 1622.6 1755.1 1644.3 1678.0 1709.2 1755.1 1784.8 1810.5 6

 7 FL153065403 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FL103065403 Nonfinancial corporate business 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.6 8

 9 FL113065403 Nonfinancial noncorporate business 16.8 17.7 19.2 18.3 19.0 19.2 19.2 19.7 19.7 9

 10 FL313065405 Federal government 11.9 11.6 11.1 11.4 11.3 11.2 11.1 11.1 11.1 10

 11 FL213065403 State and local governments 103.4 102.6 105.2 101.2 102.8 104.2 105.2 105.9 106.3 11

 12 FL763065403 U.S.-chartered depository institutions 472.2 501.9 526.7 513.0 520.2 525.7 526.7 528.2 538.3 12

 13 FL753065403 Foreign banking offices in U.S. 9.5 11.4 14.0 12.6 13.0 13.5 14.0 14.1 14.5 13

 14 FL543065405 Life insurance companies 136.9 162.1 169.8 164.3 165.7 166.4 169.8 171.1 173.7 14

 15 FL573065403 Private pension funds 1.1 0.8 0.6 0.8 0.7 0.6 0.6 0.5 0.5 15

 16 FL223065443 State and local govt. retirement funds 3.7 2.5 2.3 2.7 2.4 2.5 2.3 2.5 2.5 16

 17 FL403065405 Government-sponsored enterprises 332.9 364.0 419.4 368.6 388.9 393.7 419.4 426.8 424.4 17

 18 FL413065405 Agency- and GSE-backed mortgage pools 342.1 380.2 418.4 383.0 385.7 403.9 418.4 434.1 446.7 18

 19 FL673065405 ABS issuers 43.8 46.3 51.3 53.0 53.2 52.2 51.3 52.7 53.2 19

 20 FL613065403 Finance companies 5.9 5.7 5.5 5.7 5.6 5.5 5.5 5.4 5.4 20

 21 FL643065405 REITs 7.7 15.0 11.0 9.2 9.0 10.0 11.0 12.0 13.7 21
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L.220 Commercial Mortgages

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893065505 Total liabilities 2832.0 2964.8 3081.1 3005.6 3029.8 3052.9 3081.1 3099.8 3141.1 1

 2 FL163165505 Nonprofit organizations (1) 256.1 259.0 260.4 259.3 259.7 260.0 260.4 260.7 260.9 2

 3 FL103165505 Nonfinancial corporate business 472.5 512.0 546.7 517.1 526.4 533.3 546.7 558.1 583.0 3

 4 FL113165505 Nonfinancial noncorporate business 1901.2 1992.3 2072.4 2027.5 2044.5 2057.5 2072.4 2085.1 2102.6 4

 5 FL123165503 REITs 202.3 201.6 201.7 201.7 199.2 202.0 201.7 196.0 194.6 5

 6 FL893065505 Total assets 2832.0 2964.8 3081.1 3005.6 3029.8 3052.9 3081.1 3099.8 3141.1 6

 7 FL153065505 Household sector 1.1 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.3 7

 8 FL103065503 Nonfinancial corporate business 13.2 14.0 14.9 14.2 14.5 14.7 14.9 15.2 15.4 8

 9 FL113065503 Nonfinancial noncorporate business 13.4 14.1 15.3 14.6 15.2 15.3 15.3 15.7 15.8 9

 10 FL313065505 Federal government 74.2 74.1 75.4 75.3 76.3 74.6 75.4 76.0 76.0 10

 11 FL213065503 State and local governments 20.7 20.5 20.9 20.2 20.9 20.9 20.9 21.5 21.6 11

 12 FL763065503 U.S.-chartered depository institutions 1666.8 1749.3 1822.5 1772.9 1794.0 1809.0 1822.5 1830.6 1851.1 12

 13 FL753065503 Foreign banking offices in U.S. 66.3 67.3 65.5 68.3 67.3 66.6 65.5 65.1 65.8 13

 14 FL743065505 Banks in U.S.-affiliated areas 10.0 9.4 9.4 9.5 9.6 9.4 9.4 9.0 8.9 14

 15 FL513065505 Property-casualty insurance companies 20.5 22.9 24.3 23.6 23.7 23.5 24.3 24.3 25.5 15

 16 FL543065505 Life insurance companies 383.8 401.4 417.1 405.9 408.5 409.4 417.1 416.6 422.8 16

 17 FL573065505 Private pension funds 21.9 21.7 16.7 20.1 19.0 17.8 16.7 16.4 15.5 17

 18 FL223065545 State and local govt. retirement funds 4.2 2.9 2.6 3.0 2.8 2.9 2.6 2.8 2.8 18

 19 FL413065505 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL673065505 ABS issuers 339.8 357.2 371.2 363.0 359.8 363.1 371.2 379.1 384.8 20

 21 FL613065503 Finance companies 21.8 26.1 27.4 26.0 27.1 27.0 27.4 27.1 26.5 21

 22 FL643065505 REITs 174.5 182.8 196.5 187.8 190.2 197.4 196.5 199.2 207.5 22

(1) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

L.221 Farm Mortgages (1)

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

 1 FL893065603 Total liabilities 245.7 266.8 278.7 269.8 272.7 275.7 278.7 280.8 283.0 1

 2 FL183165605 Nonfinancial corporate business 63.7 69.5 73.1 70.2 71.1 72.0 73.1 73.9 74.5 2

 3 FL233165605 Nonfinancial noncorporate business 182.0 197.3 205.6 199.5 201.6 203.7 205.6 206.9 208.5 3

 4 FL893065603 Total assets 245.7 266.8 278.7 269.8 272.7 275.7 278.7 280.8 283.0 4

 5 FL153065605 Household sector 8.2 9.1 7.1 8.7 7.8 7.5 7.1 7.0 6.4 5

 6 FL113065603 Nonfinancial noncorporate business 1.0 1.0 1.1 1.1 1.1 1.1 1.1 1.2 1.2 6

 7 FL313065605 Federal government 7.9 8.9 10.3 9.2 9.6 9.9 10.3 10.5 10.9 7

 8 FL213065603 State and local governments 1.3 1.3 1.4 1.3 1.4 1.4 1.4 1.4 1.5 8

 9 FL763065633 U.S.-chartered depository institutions 92.8 97.9 102.3 99.0 100.1 101.2 102.3 103.1 103.9 9

 10 FL753065603 Foreign banking offices in U.S. 0.2 0.2 0.1 0.2 0.2 0.1 0.1 0.1 0.1 10

 11 FL543065633 Life insurance companies 15.9 16.7 17.4 16.9 17.1 17.3 17.4 17.6 17.7 11

 12 FL223065643 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL403065605 Government-sponsored enterprises 117.0 130.6 138.0 132.4 134.4 136.2 138.0 139.1 140.6 13

 14 FL413065605 Agency- and GSE-backed mortgage pools 1.5 1.1 0.9 1.1 1.0 1.0 0.9 0.8 0.9 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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL153166000 Total liabilities (Households) 4007.0 4192.2 4185.0 4147.8 4097.3 4142.7 4185.0 4167.2 4266.5 1

 2 FL153166000 Total assets 4007.0 4192.2 4185.0 4147.8 4097.3 4142.7 4185.0 4167.2 4266.5 2

 3 FL163066223 Nonprofit organizations (1) 31.3 27.3 24.1 26.1 25.1 24.3 24.1 23.9 23.6 3

 4 FL103066005 Nonfinancial corporate business 36.5 35.8 35.8 34.7 34.8 35.1 35.8 34.7 34.8 4

 5 FL113066003 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FL313066220 Federal government (2) 1236.3 1319.2 1381.0 1350.6 1355.8 1379.4 1381.0 1410.1 1413.8 6

 7 FL763066000 U.S.-chartered depository institutions 1682.0 1771.0 1685.7 1709.9 1644.4 1649.2 1685.7 1633.2 1701.0 7

 8 FL473066000 Credit unions 481.2 498.0 505.1 495.2 498.3 503.9 505.1 502.9 519.4 8

 9 FL403066005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL673066000 ABS issuers 5.5 3.1 1.9 2.8 2.5 2.2 1.9 1.9 1.7 10

 11 FL613066005 Finance companies 534.4 537.7 551.4 528.5 536.4 548.6 551.4 560.5 572.3 11

 Memo:

 12 FL153166100 Credit card loans (3) 1053.8 1092.0 974.6 1022.0 952.6 943.8 974.6 911.1 951.7 12

 13 FL153166400 Auto loans 1139.6 1184.1 1224.5 1183.9 1197.4 1218.4 1224.5 1240.8 1279.9 13

 14 FL153166220 Student loans (4) 1570.5 1646.4 1702.6 1674.9 1680.6 1704.9 1702.6 1728.1 1732.2 14

 15 FL153166205 Other consumer credit (5) 243.0 269.7 283.3 267.0 266.7 275.6 283.3 287.2 302.7 15

(1) Student loans originated under the Federal Family Education Loan Program. Asset of the households and nonprofit organizations sector (tables L.101 and B.101).

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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L.223 Corporate Equities (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 LM893064105 Issues at market value 43715.3 54643.8 64904.3 43122.0 51985.2 56621.4 64904.3 69683.3 75391.8 1

 2 LM883164105 Domestic sectors 35815.7 45165.8 54368.3 35679.4 43410.3 47478.8 54368.3 58680.3 63704.1 2

 3 LM103164103 Nonfinancial corporate business 26543.6 33680.3 41960.8 27002.7 33391.0 36930.1 41960.8 44859.4 48489.5 3

 4 LM103164113 Publicly traded (2) 21728.9 27633.7 35190.0 22367.7 27794.1 30773.7 35190.0 37141.1 40346.4 4

 5 LM103164123 Closely held 4814.7 6046.6 6770.8 4635.0 5596.9 6156.4 6770.8 7718.3 8143.1 5

 6 LM793164105 Financial corporations 9272.1 11485.5 12407.6 8676.7 10019.3 10548.6 12407.6 13820.9 15214.6 6

 7 LM793164115 Publicly traded (3) 8726.3 10836.4 11748.1 8155.2 9418.2 9935.6 11748.1 13069.3 14421.9 7

 8 LM793164123 Closely held 545.8 649.1 659.4 521.5 601.1 613.0 659.4 751.6 792.7 8

 9 LM263164100 Rest of the world (4) 7899.6 9478.0 10535.9 7442.6 8574.9 9142.7 10535.9 11003.1 11687.7 9

 10 LM893064105 Holdings at market value 43715.3 54643.8 64904.3 43122.0 51985.2 56621.4 64904.3 69683.3 75391.8 10

 11 LM153064105 Household sector 16269.8 20989.3 25634.0 16420.9 20108.1 22198.6 25634.0 28038.6 30490.0 11

 12 LM103064103 Nonfinancial corporate business 1789.9 2317.7 2552.1 1833.4 2168.3 2318.6 2552.1 2667.6 2853.7 12

 13 LM313064105 Federal government 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 13

 14 LM213064103 State and local governments 169.6 214.1 250.0 167.6 202.8 219.5 250.0 264.4 284.5 14

 15 FL713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 LM763064105 U.S.-chartered depository institutions 109.1 147.7 160.1 95.9 120.6 133.0 160.1 176.5 191.1 16

 17 FL753064103 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 LM513064105 Property-casualty insurance companies 392.1 493.9 518.6 399.8 431.7 461.9 518.6 547.0 586.4 18

 19 LM543064105 Life insurance companies 538.0 644.6 729.8 556.1 623.4 658.6 729.8 750.6 809.3 19

 20 LM573064105 Private pension funds 2448.0 2961.8 3343.2 2286.3 2753.5 2960.6 3343.2 3532.3 3776.0 20

 21 LM343064105 Federal government retirement funds 292.1 370.7 418.4 277.9 342.5 366.0 418.4 448.9 487.0 21

 22 LM223064145 State and local govt. retirement funds 2478.6 2576.9 2861.9 2174.5 2376.0 2585.5 2861.9 2999.1 3204.2 22

 23 LM653064100 Mutual funds 9657.5 11934.5 13391.1 9203.8 11129.4 11843.4 13391.1 13977.9 14934.2 23

 24 LM553064103 Closed-end funds 91.2 107.2 105.9 79.7 92.2 95.7 105.9 115.0 122.7 24

 25 LM563064100 Exchange-traded funds 2669.2 3486.2 4233.6 2715.2 3283.8 3566.3 4233.6 4697.0 5189.6 25

 26 LM663064103 Brokers and dealers 147.7 166.7 214.3 144.7 180.4 205.4 214.3 265.9 259.1 26

 27 FL503064105 Other financial business 0.0 0.0 8.8 0.0 8.0 8.6 8.8 8.5 1.1 27

 28 LM263064105 Rest of the world (5) 6629.5 8199.2 10449.2 6733.2 8131.4 8966.6 10449.2 11160.9 12169.9 28

 Memo:

 29 LM883164115 Publicly traded equity at market value (6) 30455.2 38470.1 46938.1 30522.8 37212.3 40709.4 46938.1 50210.4 54768.3 29

 30 LM883164125 Closely held equity at market value (7) 5360.6 6695.7 7430.2 5156.5 6198.0 6769.4 7430.2 8469.8 8935.8 30

 31 LM883164133 S corporations 3656.0 4822.2 5320.0 4315.6 4634.6 4919.0 5320.0 6097.1 6466.9 31

 32 LM883164135 C corporations 1704.6 1873.5 2110.2 841.0 1563.4 1850.5 2110.2 2372.7 2468.9 32

 33 PC073164013 Percent change in Dow Jones U.S. Total Market Index -7.04 28.42 18.72 -21.34 21.52 8.64 14.32 6.08 7.94 33

(1) Includes shares of exchange-traded funds, closed-end funds, and real estate investment trusts. Excludes mutual fund shares shown on table L.224.

(2) Excludes intercorporate holdings.

(3) Includes corporate equities issued by financial corporations under the federal financial stabilization programs.

(4) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(5) Holdings of U.S. issues by foreign residents.

(6) Equal to the sum of lines 4 and 7.

(7) Equal to the sum of lines 5 and 8.

L.224 Mutual Fund Shares (1)

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

 1 LM653164205 Shares at market value 14669.8 17659.5 19562.6 14543.1 16776.1 17749.3 19562.6 20271.3 21459.7 1

 2 LM653164205 Holdings at market value 14669.8 17659.5 19562.6 14543.1 16776.1 17749.3 19562.6 20271.3 21459.7 2

 3 LM153064205 Household sector 7998.8 9966.1 11074.8 8143.8 9433.1 10025.6 11074.8 11553.9 12290.4 3

 4 LM103064203 Nonfinancial corporate business 269.9 326.4 376.4 276.9 321.6 342.8 376.4 390.7 415.3 4

 5 LM213064203 State and local governments 82.2 98.9 112.8 83.4 96.4 102.2 112.8 116.6 123.4 5

 6 LM763064203 U.S.-chartered depository institutions 52.1 61.6 63.4 45.6 51.9 55.4 63.4 68.1 72.2 6

 7 LM473064205 Credit unions 2.5 3.3 4.8 3.2 3.8 4.0 4.8 6.1 6.9 7

 8 LM513064205 Property-casualty insurance companies 21.3 25.8 29.7 21.8 25.6 28.0 29.7 31.0 31.9 8

 9 LM543064205 Life insurance companies 1402.5 1599.0 1702.1 1300.3 1487.1 1551.6 1702.1 1732.4 1794.2 9

 10 LM573064205 Private pension funds 3594.6 4307.6 4723.9 3567.9 4100.2 4315.7 4723.9 4871.2 5135.7 10

 11 LM223064205 State and local govt. retirement funds 446.9 374.6 445.4 305.7 354.9 372.7 445.4 418.1 438.6 11

 12 LM263064203 Rest of the world 799.0 896.1 1029.4 794.6 901.6 951.3 1029.4 1083.2 1151.0 12

(1) Shares of open-end investment companies; excludes shares of money market funds and exchange-traded funds.
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L.225 Trade Credit

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893170005 Total trade payables 5393.5 5775.4 6054.3 5711.9 5580.5 5867.1 6054.3 6214.4 6422.6 1

 2 FL163170005 Nonprofit organizations (1) 362.6 369.5 376.3 371.2 372.9 374.6 376.3 378.0 379.7 2

 3 FL103170005 Nonfinancial corporate business 2690.4 2920.5 3051.2 2821.1 2694.0 2904.5 3051.2 3146.7 3305.8 3

 4 FL113170005 Nonfinancial noncorporate business 598.6 641.5 615.7 644.2 606.2 619.9 615.7 640.9 651.9 4

 5 FL313170005 Federal government 382.3 418.3 435.1 416.2 405.6 422.3 435.1 452.0 469.7 5

 6 FL213170003 State and local governments 1000.2 1048.8 1097.2 1061.0 1072.8 1084.8 1097.2 1109.9 1122.9 6

 7 FL513170005 Property-casualty insurance companies 76.8 79.5 90.5 80.8 87.1 97.4 90.5 92.7 94.4 7

 8 FL543170005 Life insurance companies 186.3 199.9 288.1 219.3 247.6 266.1 288.1 288.5 290.8 8

 9 FL663170003 Brokers and dealers 16.8 15.8 18.5 20.1 17.8 16.7 18.5 19.7 15.9 9

 10 LM263170005 Rest of the world 79.4 81.6 81.6 77.8 76.6 80.9 81.6 86.0 91.5 10

 11 FL893070005 Total trade receivables 5588.8 6232.0 6463.6 6175.6 6017.9 6284.1 6463.6 6664.8 6890.1 11

 12 FL163070005 Nonprofit organizations (1) 263.7 271.3 279.0 273.2 275.2 277.1 279.0 280.7 282.4 12

 13 FL103070005 Nonfinancial corporate business 3512.7 4053.2 4082.9 3957.3 3740.8 3944.1 4082.9 4243.2 4439.7 13

 14 FL113070003 Nonfinancial noncorporate business 852.6 900.3 947.3 911.7 925.3 936.6 947.3 961.1 964.3 14

 15 FL313070000 Federal government 75.4 73.5 84.9 73.4 80.6 81.6 84.9 91.9 93.4 15

 16 FL213070003 State and local governments 230.2 249.3 263.7 244.3 238.0 253.7 263.7 269.5 279.1 16

 17 FL513070005 Property-casualty insurance companies 186.1 192.7 210.7 201.0 212.8 224.9 210.7 218.2 224.3 17

 18 FL543070005 Life insurance companies 101.5 108.0 130.4 112.9 120.1 124.8 130.4 130.6 133.1 18

 19 FL673070003 ABS issuers 33.9 34.6 34.8 36.9 35.5 32.6 34.8 33.5 35.3 19

 20 LM263070005 Rest of the world 332.7 349.1 430.0 364.8 389.7 408.6 430.0 436.0 438.5 20

 21 FL903070005 Discrepancy -195.3 -456.6 -409.4 -463.7 -437.5 -417.0 -409.4 -450.4 -467.5 21

(1) Included in the households and nonprofit organizations sector (tables L.101 and B.101).

L.226 Life Insurance Reserves

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

 1 FL893140005 Total liabilities 2153.1 2242.9 2385.1 2246.4 2290.1 2327.9 2385.1 2373.4 2414.8 1

 2 FL313140003 Federal government 51.3 52.2 52.4 52.0 52.0 52.4 52.4 52.7 51.8 2

 3 FL543140005 Life insurance companies 2035.2 2122.4 2248.9 2122.6 2161.3 2195.6 2248.9 2237.6 2278.7 3

 4 FL263140005 Rest of the world 66.6 68.3 83.8 71.8 76.7 80.0 83.8 83.2 84.3 4

 5 FL893140005 Total assets 2153.1 2242.9 2385.1 2246.4 2290.1 2327.9 2385.1 2373.4 2414.8 5

 6 FL153040005 Household sector 1659.1 1731.3 1867.0 1733.7 1776.1 1811.9 1867.0 1854.2 1886.5 6

 7 FL763040005 U.S.-chartered depository institutions 172.1 178.8 184.8 179.7 181.0 182.8 184.8 186.9 191.6 7

 8 FL543040005 Life insurance companies 250.4 257.1 262.7 258.4 260.2 261.3 262.7 260.6 264.1 8

 9 FL733040005 Holding companies 61.0 65.0 69.0 66.0 67.0 68.0 69.0 70.0 71.0 9

 10 FL543141905 Rest of the world 10.4 10.7 1.6 8.7 5.8 3.9 1.6 1.6 1.6 10
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L.227 Pension Entitlements

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893150005 Total liabilities 26019.6 28209.6 30091.5 26983.7 28297.4 28971.0 30091.5 30493.7 31250.6 1

 2 FL543150005 Life insurance companies (1) 3175.0 3483.6 3799.6 3262.3 3470.5 3579.6 3799.6 3808.8 3920.3 2

 3 FL574190005 Private pension funds (2) 9732.4 11079.3 12061.4 10089.4 10963.7 11365.9 12061.4 12317.5 12797.0 3

 4 FL344090005 Federal government retirement funds (3) 4035.5 4222.7 4424.3 4171.1 4276.0 4336.9 4424.3 4479.2 4546.8 4

 5 FL224190005 State and local govt. retirement funds 8999.3 9343.2 9678.4 9369.8 9481.0 9572.5 9678.4 9760.0 9856.1 5

 6 FL263150005 Rest of the world 77.5 80.8 127.8 91.1 106.2 116.1 127.8 128.3 130.4 6

 7 FL893150005 Total assets 26019.6 28209.6 30091.5 26983.7 28297.4 28971.0 30091.5 30493.7 31250.6 7

 8 FL153050005 Households (4) 25812.9 27994.1 29797.8 26751.0 28039.7 28696.9 29797.8 30199.0 30951.0 8

 9 FL543050005 Life insurance companies 191.4 199.5 291.3 219.7 249.1 268.3 291.3 292.3 297.2 9

 10 FL543151905 Rest of the world 15.4 16.0 2.4 13.0 8.6 5.8 2.4 2.4 2.4 10

 Memo:

 11 LM893131573 Individual Retirement Accounts (IRAs): (5) 9135.0 10850.0 12210.0 9365.0 10640.0 11190.0 12210.0 12555.0 ND 11

 12 FL763131573 U.S.-chartered depository institutions 490.2 476.5 600.7 524.1 559.6 549.0 600.7 558.8 ND 12

 13 FL473131573 Credit unions 78.3 81.7 84.6 82.7 83.5 84.4 84.6 85.1 ND 13

 14 LM543131503 Life insurance companies 625.0 685.0 748.0 642.0 684.0 705.0 748.0 751.0 ND 14

 15 FL633131573 Money market funds 265.0 314.0 391.0 369.0 378.0 392.0 391.0 380.0 ND 15

 16 LM653131573 Mutual funds 3535.0 4286.0 4836.0 3520.0 4092.0 4342.0 4836.0 5035.0 ND 16

 17 LM153131575 Other self-directed accounts 4141.5 5006.8 5549.7 4227.2 4842.9 5117.7 5549.7 5745.1 ND 17

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Asset of the household and nonprofit organizations sector (tables L.101 and B.101). Figures for depositories (lines 12 and 13) include Keogh accounts. Variable annuities in IRAs are included

 in the life insurance sector (line 14) and excluded from the money market fund and mutual fund sectors (lines 15 and 16).

L.228 Taxes Payable by Businesses

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

 1 FL893178005 Total taxes payable by all businesses 581.8 596.4 615.0 616.7 658.0 607.2 615.0 609.2 553.1 1

 2 FL103178005 Nonfinancial corporate business 266.7 259.9 273.7 285.3 314.1 267.9 273.7 275.7 227.4 2

 3 FL113178003 Nonfinancial noncorporate business 155.6 164.0 177.1 169.1 175.5 177.5 177.1 181.8 182.4 3

 4 FL763178003 U.S.-chartered depository institutions 109.7 124.2 113.0 107.6 109.9 112.3 113.0 96.3 94.4 4

 5 FL513178005 Property-casualty insurance companies 13.2 12.9 13.4 15.6 15.9 12.2 13.4 15.0 12.1 5

 6 FL543178075 Life insurance companies 7.7 8.1 9.0 10.6 11.8 8.3 9.0 10.2 7.7 6

 7 FL613178005 Finance companies 15.3 14.9 14.4 15.0 15.2 14.4 14.4 14.9 14.0 7

 8 FL663178005 Brokers and dealers 13.6 12.2 14.4 13.6 15.7 14.5 14.4 15.2 15.0 8

 9 FL893078005 Total business taxes receivable 400.2 558.4 626.6 593.1 636.8 632.3 626.6 665.9 573.0 9

 10 FL313078000 Federal government 230.2 380.0 437.0 409.9 448.1 441.9 437.0 472.5 379.8 10

 11 FL213078005 State and local governments 170.0 178.5 189.7 183.2 188.7 190.4 189.7 193.4 193.2 11

 12 FL903078005 Discrepancy 181.6 37.9 -11.6 23.6 21.2 -25.1 -11.6 -56.7 -19.9 12

L.229 Proprietors’ Equity in Noncorporate Business

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

 1 LM152090205 Total household equity 11278.5 12013.5 12891.1 12128.5 12269.0 12492.2 12891.1 13187.0 13706.8 1

 2 LM112090205 Nonfinancial noncorporate business 11200.3 11930.0 12800.7 12043.7 12180.5 12405.1 12800.7 13093.3 13608.9 2

 3 LM662090003 Brokers and dealers 78.2 83.5 90.3 84.8 88.5 87.1 90.3 93.8 98.0 3
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L.230 Direct Investment

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 LM263192005 U.S. direct investment abroad (1, 2) 6370.7 7579.1 8240.8 5806.4 6855.9 7208.2 8240.8 8726.3 9281.1 1

 Equity:

 2 LM263192101 Liab.: Rest of the world (1) 6139.1 7449.1 8176.6 5713.6 6747.3 7130.4 8176.6 8671.8 9232.2 2

 3 LM103092105 Asset: Nonfinancial corporate business 5215.0 6256.0 6831.8 4773.5 5652.7 5974.8 6831.8 7238.7 7715.9 3

 4 LM763092100 U.S.-chartered depository institutions 240.9 298.3 324.9 230.4 268.5 285.4 324.9 339.7 360.6 4

 5 LM513092103 Property-casualty insurance companies 137.9 188.9 214.3 149.3 180.7 194.1 214.3 232.1 245.2 5

 6 LM543092173 Life insurance companies 61.0 82.9 89.1 64.7 74.0 75.7 89.1 93.4 97.3 6

 7 LM613092103 Finance companies 267.1 329.0 369.7 264.5 301.0 317.2 369.7 409.1 432.1 7

 8 LM663092103 Brokers and dealers 217.1 293.9 346.8 231.3 270.5 283.1 346.8 358.7 381.2 8

 Intercompany debt:

 9 LM263192305 Liab.: Rest of the world (1, 2) 231.7 130.0 64.1 92.8 108.6 77.8 64.1 54.6 40.7 9

 10 LM263192313 U.S. parents’ claims 865.2 820.6 765.8 803.6 743.8 769.8 765.8 758.5 762.6 10

 11 LM263092313 Less: U.S. parents’ liabilities 633.5 690.6 701.7 710.8 635.2 691.9 701.7 703.9 721.9 11

 12 LM103092305 Asset: Nonfinancial corporate business 196.8 109.2 53.6 77.6 91.0 65.2 53.6 45.5 32.6 12

 13 LM763092305 U.S.-chartered depository institutions 9.1 5.2 2.5 3.7 4.3 3.1 2.5 2.1 1.9 13

 14 LM513092305 Property-casualty insurance companies 5.2 3.3 1.7 2.4 2.9 2.1 1.7 1.5 1.3 14

 15 LM543092375 Life insurance companies 2.3 1.4 0.7 1.1 1.2 0.8 0.7 0.6 0.5 15

 16 LM613092305 Finance companies 10.1 5.7 2.9 4.3 4.8 3.5 2.9 2.6 2.3 16

 17 LM663092305 Brokers and dealers 8.2 5.1 2.7 3.8 4.4 3.1 2.7 2.3 2.0 17

 18 LM263092001 Foreign direct investment in U.S. (1) 7346.9 9362.9 10813.5 7577.2 8966.1 9704.9 10813.5 11408.1 12388.6 18

 Equity:

 19 LM103192105 Liab.: Nonfinancial corporate business 5813.2 7498.2 8712.1 5993.6 7192.3 7830.7 8712.1 9235.9 10090.8 19

 20 LM115114103 Nonfinancial noncorporate business 79.6 105.6 121.2 83.8 100.6 107.9 121.2 127.3 132.9 20

 21 LM753192103 Foreign banking offices in U.S. 311.4 389.3 454.3 309.4 368.1 398.9 454.3 477.5 509.8 21

 22 LM513192103 Property-casualty insurance companies 148.7 195.7 227.7 153.0 176.1 188.1 227.7 238.2 260.0 22

 23 LM543192173 Life insurance companies 131.6 184.5 244.7 147.8 176.5 185.8 244.7 250.4 273.8 23

 24 LM613192103 Finance companies 102.1 142.7 174.9 115.8 139.7 154.6 174.9 189.6 207.0 24

 25 LM663192103 Brokers and dealers 94.7 178.9 246.3 122.1 174.4 196.5 246.3 262.8 298.3 25

 26 LM733192103 Holding companies 64.2 79.7 80.9 80.8 81.1 83.0 80.9 89.6 90.3 26

 27 LM503192103 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 LM263092101 Asset: Rest of the world (1) 6745.5 8774.6 10262.0 7006.1 8408.9 9145.6 10262.0 10871.2 11862.9 28

 Intercompany debt:

 29 LM103192305 Liab.: Nonfinancial corporate business 408.2 410.7 366.9 396.3 383.4 383.9 366.9 353.8 351.1 29

 30 LM115114305 Nonfinancial noncorporate business 7.1 7.1 6.5 6.8 6.7 6.6 6.5 6.3 6.1 30

 31 LM753192305 Foreign banking offices in U.S. 27.8 26.1 24.4 25.2 24.4 24.4 24.4 23.6 22.0 31

 32 LM513192305 Property-casualty insurance companies 13.3 13.1 12.2 12.5 11.7 11.5 12.2 11.8 11.5 32

 33 LM543192375 Life insurance companies 11.7 12.4 13.2 12.0 11.7 11.4 13.2 12.4 12.2 33

 34 LM613192305 Finance companies 9.1 9.6 9.4 9.4 9.3 9.5 9.4 9.4 9.2 34

 35 LM663192305 Brokers and dealers 8.4 12.0 13.2 10.0 11.6 12.0 13.2 13.0 16.3 35

 36 LM733192305 Holding companies 115.8 97.4 105.7 98.8 98.6 100.1 105.7 106.7 107.7 36

 37 LM503192305 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 LM263092303 Asset: Rest of the world (1) 601.3 588.4 551.5 571.1 557.2 559.3 551.5 536.9 536.1 38

 39 LM263092323 U.S. affiliates’ liabilities 1014.5 1020.9 1014.3 1000.7 991.4 1005.6 1014.3 996.5 994.7 39

 40 LM263192323 Less: U.S. affiliates’ claims 413.1 432.5 462.7 429.6 434.2 446.3 462.7 459.6 458.6 40

(1) Direct investment is presented on a directional basis and reported at market value.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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L.231 Total Miscellaneous Financial Claims

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893190005 Total liabilities 23369.3 25544.2 26759.1 26822.7 26837.0 26901.6 26759.1 27092.6 27220.5 1

 2 FL543077073 Household sector 35.0 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 2

 3 FL103190005 Nonfinancial corporate business 7357.1 9252.3 9537.4 9291.3 9297.6 9403.5 9537.4 9616.1 9684.9 3

 4 FL113193003 Nonfinancial noncorporate business 1759.5 1838.2 1900.8 1866.2 1890.9 1909.4 1900.8 1898.2 1922.2 4

 5 FL313190005 Federal government 1981.8 1989.1 2366.9 2024.3 2216.9 2432.5 2366.9 2411.5 2525.4 5

 6 FL223073045 State and local governments 4488.9 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 4002.6 3799.4 6

 7 FL713190005 Monetary authority 40.6 40.4 44.4 50.8 43.5 43.2 44.4 44.7 44.0 7

 8 FL763190005 U.S.-chartered depository institutions 2717.2 2899.5 2847.4 2865.5 2824.1 2817.1 2847.4 2886.6 2931.5 8

 9 FL753190005 Foreign banking offices in U.S. 217.9 198.4 187.3 239.1 220.8 203.3 187.3 218.4 216.6 9

 10 FL743193005 Banks in U.S.-affiliated areas 3.2 3.0 3.2 3.1 3.5 4.1 3.2 2.7 2.4 10

 11 FL473193005 Credit unions 18.3 19.4 23.3 19.9 24.1 23.3 23.3 22.6 25.0 11

 12 FL513190005 Property-casualty insurance companies 1519.3 1599.7 1675.8 1600.1 1636.6 1675.8 1675.8 1729.9 1772.3 12

 13 FL543190005 Life insurance companies 1587.0 1721.2 1901.7 1791.4 1832.7 1841.5 1901.7 1921.5 1973.0 13

 14 FL403190005 Government-sponsored enterprises 111.9 114.3 120.2 128.7 118.6 116.3 120.2 120.7 114.9 14

 15 FL613190005 Finance companies 268.1 272.9 289.9 281.2 285.7 286.2 289.9 298.4 288.2 15

 16 FL643193005 REITs 117.6 147.6 159.7 146.4 148.9 155.5 159.7 164.1 164.8 16

 17 FL663190005 Brokers and dealers 332.2 353.2 391.5 274.2 323.0 351.3 391.5 399.0 407.0 17

 18 FL733193005 Holding companies -13.7 14.0 4.7 0.1 10.9 3.9 4.7 1.6 -0.8 18

 19 FL503190005 Other financial business 557.1 610.7 968.3 830.6 914.5 933.1 968.3 1045.1 1037.5 19

 20 FL263190005 Rest of the world 270.2 276.1 263.0 620.7 507.2 286.1 263.0 270.3 274.3 20

 21 FL893090005 Total assets 26053.8 27500.2 28484.8 31097.5 29680.9 29464.1 28484.8 28589.0 28238.8 21

 22 FL153090005 Household sector 1245.1 1286.9 1355.6 1286.6 1306.3 1340.5 1355.6 1375.2 1398.2 22

 23 FL103090005 Nonfinancial corporate business 5840.5 6776.4 6741.3 8377.3 7406.6 7413.9 6741.3 6694.3 6314.6 23

 24 FL113090005 Nonfinancial noncorporate business 3398.2 3593.4 3848.9 3625.4 3718.8 3831.8 3848.9 3858.6 3886.7 24

 25 FL313090005 Federal government 208.7 215.7 337.7 218.7 333.8 335.9 337.7 278.8 269.3 25

 26 FL213093003 State and local governments 102.5 31.3 45.4 17.3 29.3 42.0 45.4 48.9 62.9 26

 27 FL713090005 Monetary authority 27.3 25.4 49.0 382.4 257.5 54.0 49.0 33.4 32.1 27

 28 FL763090005 U.S.-chartered depository institutions 508.4 423.5 650.9 724.9 624.3 679.4 650.9 622.8 618.0 28

 29 FL753093005 Foreign banking offices in U.S. 76.2 83.7 77.5 105.9 87.0 81.7 77.5 72.4 93.2 29

 30 FL743093005 Banks in U.S.-affiliated areas 28.5 17.0 11.9 13.1 10.5 11.8 11.9 19.4 19.8 30

 31 FL473090005 Credit unions 86.5 92.2 124.8 106.0 122.8 120.1 124.8 116.2 125.9 31

 32 FL513090005 Property-casualty insurance companies 477.0 493.3 522.5 476.3 462.9 473.8 522.5 497.6 510.1 32

 33 FL543090005 Life insurance companies 631.7 658.8 772.4 771.3 745.6 733.2 772.4 780.9 805.0 33

 34 FL573090005 Private pension funds 2005.7 1950.2 1933.5 2324.0 2111.8 2068.0 1933.5 1931.7 1842.1 34

 35 FL343073045 Federal government retirement funds 1681.0 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 35

 36 FL223090005 State and local govt. retirement funds 4921.6 5234.3 5085.9 5731.0 5574.3 5417.1 5085.9 5079.1 4891.2 36

 37 FL633093005 Money market funds 8.1 10.5 10.5 83.5 13.2 15.2 10.5 76.9 11.2 37

 38 FL653093005 Mutual funds 225.7 291.8 296.4 286.4 299.9 265.1 296.4 342.0 387.3 38

 39 LM563093003 Exchange-traded funds 65.9 84.9 150.3 94.0 127.8 151.9 150.3 132.8 145.0 39

 40 FL403093005 Government-sponsored enterprises 95.3 127.3 189.7 150.2 170.0 186.5 189.7 199.3 174.6 40

 41 FL673090543 ABS issuers 86.0 92.3 113.2 98.1 102.5 109.0 113.2 123.9 138.8 41

 42 FL613090005 Finance companies 54.4 51.5 63.1 58.2 60.8 55.6 63.1 51.8 57.3 42

 43 FL643090005 REITs 205.3 192.6 199.2 197.8 189.3 188.7 199.2 215.3 218.3 43

 44 FL663090005 Brokers and dealers 686.9 611.2 667.0 766.2 702.2 673.5 667.0 686.9 759.5 44

 45 FL733090005 Holding companies 3204.9 3301.4 3408.6 3308.7 3304.7 3318.4 3408.6 3444.1 3572.7 45

 46 FL503094505 Other financial business 123.1 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 46

 47 FL263076005 Rest of the world 59.2 61.3 59.1 61.0 59.8 57.8 59.1 60.6 61.7 47

 48 FL903090005 Discrepancy -2684.5 -1956.0 -1725.7 -4274.8 -2843.9 -2562.5 -1725.7 -1496.3 -1018.3 48
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L.232 Identified Miscellaneous Financial Claims - Part I

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 Federal government equity in IBRD, etc.:

 1 FL313092803 Liab.: Rest of the world 66.1 67.5 69.3 68.8 68.8 69.0 69.3 70.5 70.5 1

 2 FL313092803 Asset: Federal government 66.1 67.5 69.3 68.8 68.8 69.0 69.3 70.5 70.5 2

 Federal Reserve Bank stock:

 3 FL713164003 Liab.: Monetary authority 32.3 31.7 32.4 32.0 32.0 32.4 32.4 32.5 32.8 3

 4 FL713164003 Asset: U.S.-chartered depository institutions 32.3 31.7 32.4 32.0 32.0 32.4 32.4 32.5 32.8 4

 Equity in government-sponsored enterprises:

 5 FL403192405 Liab.: Government-sponsored enterprises 52.2 48.6 41.8 55.0 46.2 43.9 41.8 41.2 40.9 5

 6 FL103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 1.2 1.3 1.4 1.4 1.3 1.3 1.4 1.5 1.5 6

 7 FL113092405 Nonfinancial noncorporate (FCS) 12.5 12.8 13.0 12.6 12.8 13.0 13.0 13.0 13.6 7

 8 FL313092403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FL763092405 U.S.-chartered depository institutions (FHLB) 29.1 24.6 14.9 30.1 20.6 17.6 14.9 13.6 12.5 9

 10 FL473092403 Credit unions (FHLB) 4.0 3.9 3.9 4.3 3.9 4.0 3.9 3.8 4.0 10

 11 FL513092403 Property-casualty insurance companies (FHLB) 0.2 0.2 0.7 0.3 0.4 0.8 0.7 0.7 0.7 11

 12 FL543092473 Life insurance companies (FHLB) 4.7 5.2 7.8 6.0 7.0 7.3 7.8 8.5 8.7 12

 13 FL613092403 Finance companies 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.0 0.0 13

 14 FL643092473 Real estate investment trusts (FHLB) 0.5 0.5 0.0 0.3 0.1 0.0 0.0 0.0 0.0 14

 Holding company net transactions with affiliates:

 15 FL763194735 Liab.: U.S.-chartered depository institutions 2140.0 2233.6 2306.3 2197.2 2225.2 2252.9 2306.3 2320.5 2386.8 15

 16 FL513194733 Property-casualty insurance companies 6.0 6.8 2.9 6.7 1.9 3.0 2.9 3.7 4.4 16

 17 FL543194733 Life insurance companies 4.8 5.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL613194733 Finance companies 15.0 10.2 8.2 9.3 9.1 9.3 8.2 7.6 6.9 18

 19 FL663194735 Brokers and dealers 952.6 983.3 1064.7 1049.4 1002.0 1007.8 1064.7 1066.6 1124.2 19

 20 FL263194735 Rest of the world 18.3 17.1 -14.5 5.6 22.8 6.4 -14.5 3.0 5.8 20

 21 FL733094705 Asset: Holding companies 3136.8 3257.0 3367.6 3268.1 3260.9 3279.3 3367.6 3401.4 3528.2 21

 NFC investment in finance company affiliates:

 22 FL103094105 Liab.: Finance companies 113.2 112.5 109.5 111.3 107.8 103.8 109.5 109.4 99.8 22

 23 FL103094105 Asset: Nonfinancial corporate business 113.2 112.5 109.5 111.3 107.8 103.8 109.5 109.4 99.8 23

 Other financial businesses’ investment in affiliates:

 24 FL753194503 Liab.: Foreign banking offices in U.S. 123.1 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 24

 25 FL663194505 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FL503094505 Asset: Other financial business 123.1 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 26

 Equity investment under Public-Private Inv. Program:

 27 LM503194305 Liab.: Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 LM153094305 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 LM313094303 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 Federal gov’t investment in Federal Reserve facilities:

 30 FL313094213 Liab.: Monetary authority 0.0 0.0 1.5 0.0 1.5 1.5 1.5 1.5 0.0 30

 31 FL503194205 Other financial business 0.0 0.0 112.5 0.0 112.5 112.5 112.5 50.3 40.3 31

 32 FL313094205 Asset: Federal government 0.0 0.0 114.0 0.0 114.0 114.0 114.0 51.8 40.3 32

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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L.233 Identified Miscellaneous Financial Claims - Part II

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 Nonofficial foreign currencies:

 1 FL263191103 Liab.: Rest of the world 6.8 6.4 20.5 360.3 229.5 26.5 20.5 5.1 3.2 1

 2 FL313091105 Asset: Federal government 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2

 3 FL713091103 Monetary authority (1) 4.2 3.7 17.9 357.7 226.9 23.9 17.9 2.5 0.6 3

 Postal Savings System deposits:

 4 FL313131003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL313131003 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 FL403197033 Liab.: Government-sponsored enterprises 7.6 10.4 15.3 15.1 15.8 14.9 15.3 17.6 15.6 6

 7 FL403197033 Asset: U.S.-chartered depository institutions 7.6 10.4 15.3 15.1 15.8 14.9 15.3 17.6 15.6 7

 Paycheck Protection Program subsidies payable:

 8 FL313172003 Liab.: Federal government 0.0 0.0 364.7 0.0 158.5 383.7 364.7 377.5 473.2 8

 9 FL163072003 Asset: Nonprofit organizations 0.0 0.0 35.5 0.0 14.3 34.6 35.5 36.0 41.2 9

 10 FL103072005 Nonfinancial corporate business 0.0 0.0 210.0 0.0 92.5 223.9 210.0 217.2 266.5 10

 11 FL113072003 Nonfinancial noncorporate business 0.0 0.0 117.5 0.0 51.0 123.5 117.5 122.7 163.9 11

 12 FL613072003 Finance companies 0.0 0.0 1.6 0.0 0.7 1.7 1.6 1.5 1.6 12

 Funding agreements backing securities:

 13 FL673090543 Liab.: Life insurance companies (2) 86.0 92.3 113.2 98.1 102.5 109.0 113.2 123.9 138.8 13

 14 FL673090543 Asset: ABS issuers 86.0 92.3 113.2 98.1 102.5 109.0 113.2 123.9 138.8 14

 Deferred and unpaid life insurance premiums:

 15 FL543077073 Liab.: Household sector 35.0 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 15

 16 FL543077073 Asset: Life insurance companies 35.0 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 16

 Life insurance company reserves:

 17 FL543195005 Liab.: Life insurance companies 408.7 426.6 445.8 429.2 435.2 442.1 445.8 448.6 449.7 17

 18 FL263195105 Rest of the world 17.8 18.6 24.4 19.9 21.8 23.0 24.4 24.4 24.5 18

 19 FL153095105 Asset: Household sector 352.2 367.6 383.8 369.6 374.6 380.8 383.8 386.7 387.5 19

 20 FL543095105 Life insurance companies 74.3 77.6 86.4 79.6 82.4 84.2 86.4 86.3 86.8 20

 Policy payables:

 21 FL513176005 Liab.: Property-casualty insurance companies 1294.2 1338.2 1393.5 1345.2 1364.5 1394.8 1393.5 1427.0 1453.3 21

 22 FL263176005 Rest of the world 161.1 166.6 163.3 166.1 164.3 161.3 163.3 167.2 170.3 22

 23 FL153076005 Asset: Household sector 591.9 603.9 612.7 603.4 606.7 614.4 612.7 630.3 643.8 23

 24 FL103076005 Nonfinancial corporate business 377.0 392.0 417.3 395.6 404.0 416.4 417.3 426.6 434.0 24

 25 FL113076005 Nonfinancial noncorporate business 119.0 129.0 145.2 132.3 137.1 142.7 145.2 146.5 147.8 25

 26 FL513076005 Property-casualty insurance companies 308.1 318.6 322.4 319.1 321.2 324.8 322.4 330.2 336.3 26

 27 FL263076005 Rest of the world 59.2 61.3 59.1 61.0 59.8 57.8 59.1 60.6 61.7 27

 Unallocated insurance company contracts:

 28 FL593095005 Liab.: Life insurance companies 788.4 845.9 885.7 810.3 843.6 857.9 885.7 886.6 909.0 28

 29 FL573095005 Asset: Private pension funds 555.8 592.0 615.2 562.6 588.0 595.3 615.2 614.5 628.6 29

 30 FL223095505 State and local government retirement funds 232.6 253.9 270.6 247.7 255.7 262.6 270.6 272.1 280.5 30

 Pension fund contributions payable:

 31 FL573074005 Liab.: Nonfinancial corporate business 84.7 80.1 70.2 79.4 76.6 73.7 70.2 67.9 64.3 31

 32 FL573074005 Asset: Private pension funds 84.7 80.1 70.2 79.4 76.6 73.7 70.2 67.9 64.3 32

 Securities borrowed (net):

 33 FL663097005 Liab.: Other financial business 683.8 685.5 753.6 744.0 747.2 716.3 753.6 762.3 853.4 33

 34 FL663097005 Asset: Brokers and dealers 683.8 685.5 753.6 744.0 747.2 716.3 753.6 762.3 853.4 34

 Retiree health care funds:

 35 FL313195105 Liab.: Federal government (3) 301.0 315.4 323.6 313.6 310.7 310.8 323.6 322.2 325.7 35

 36 FL313195105 Asset: Household sector 301.0 315.4 323.6 313.6 310.7 310.8 323.6 322.2 325.7 36

 Claims of pension fund on sponsor:

 37 FL573073005 Liab.: Nonfinancial corporate business 601.7 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 37

 38 FL343073045 Federal government 1681.0 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 38

 39 FL223073045 State and local governments 4488.9 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 4002.6 3799.4 39

 40 FL573073005 Asset: Private pension funds 601.7 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 40

 41 FL343073045 Federal government retirement funds 1681.0 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 41

 42 FL223073045 State and local govt. retirement funds 4488.9 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 4002.6 3799.4 42

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables L.133 and L.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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L.234 Unidentified Miscellaneous Financial Claims

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893193005 Total liabilities 9198.8 11648.7 12387.6 11523.6 11851.6 12087.1 12387.6 12661.6 12768.7 1

 2 FL103193005 Nonfinancial corporate business 6670.8 8767.4 9248.3 8451.8 8732.3 8925.9 9248.3 9341.6 9542.8 2

 3 FL113193003 Nonfinancial noncorporate business 1759.5 1838.2 1900.8 1866.2 1890.9 1909.4 1900.8 1898.2 1922.2 3

 4 FL313193013 Federal government -0.2 -0.2 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 4

 5 FL713193005 Monetary authority 8.2 8.7 10.5 18.8 10.0 9.3 10.5 10.7 11.2 5

 6 FL763193005 U.S.-chartered depository institutions 577.2 665.9 541.2 668.3 598.9 564.3 541.2 566.1 544.8 6

 7 FL753193005 Foreign banking offices in U.S. 94.8 78.9 95.3 116.7 109.3 102.3 95.3 84.2 99.8 7

 8 FL743193005 Banks in U.S.-affiliated areas 3.2 3.0 3.2 3.1 3.5 4.1 3.2 2.7 2.4 8

 9 FL473193005 Credit unions 18.3 19.4 23.3 19.9 24.1 23.3 23.3 22.6 25.0 9

 10 FL513193005 Property-casualty insurance companies 219.0 254.6 279.5 248.2 270.3 278.0 279.5 299.3 314.6 10

 11 FL543193005 Life insurance companies 299.1 350.5 457.0 453.7 451.2 432.6 457.0 462.4 475.4 11

 12 FL403193005 Government-sponsored enterprises 52.1 55.3 63.1 58.6 56.7 57.5 63.1 61.9 58.4 12

 13 FL613193005 Finance companies 140.0 150.2 172.2 160.6 168.8 173.2 172.2 181.4 181.5 13

 14 FL643193005 REITs 117.6 147.6 159.7 146.4 148.9 155.5 159.7 164.1 164.8 14

 15 FL663193005 Brokers and dealers -620.4 -630.1 -673.2 -775.2 -679.0 -656.5 -673.2 -667.6 -717.2 15

 16 FL733193005 Holding companies -13.7 14.0 4.7 0.1 10.9 3.9 4.7 1.6 -0.8 16

 17 FL503193005 Other financial business -126.6 -74.8 102.2 86.6 54.7 104.4 102.2 232.6 143.8 17

 18 FL893093005 Total assets 11883.3 13604.7 14113.3 15798.4 14695.6 14649.6 14113.3 14158.0 13787.0 18

 19 FL103093005 Nonfinancial corporate business 5349.1 6270.6 6003.1 7869.0 6801.1 6668.6 6003.1 5939.6 5512.8 19

 20 FL113093005 Nonfinancial noncorporate business 3266.7 3451.7 3573.1 3480.5 3517.9 3552.7 3573.1 3576.3 3561.3 20

 21 FL313093003 Federal government 140.0 145.7 151.8 147.3 148.4 150.3 151.8 153.9 155.9 21

 22 FL213093003 State and local governments 102.5 31.3 45.4 17.3 29.3 42.0 45.4 48.9 62.9 22

 23 FL713093005 Monetary authority 23.1 21.7 31.1 24.7 30.6 30.1 31.1 30.9 31.5 23

 24 FL763093005 U.S.-chartered depository institutions 439.4 356.8 588.3 647.8 555.8 614.6 588.3 559.1 557.2 24

 25 FL753093005 Foreign banking offices in U.S. 76.2 83.7 77.5 105.9 87.0 81.7 77.5 72.4 93.2 25

 26 FL743093005 Banks in U.S.-affiliated areas 28.5 17.0 11.9 13.1 10.5 11.8 11.9 19.4 19.8 26

 27 FL473093005 Credit unions 82.5 88.2 120.9 101.7 118.9 116.2 120.9 112.4 122.0 27

 28 FL513093005 Property-casualty insurance companies 168.7 174.5 199.3 156.9 141.3 148.2 199.3 166.7 173.1 28

 29 FL543093005 Life insurance companies 517.7 539.4 641.6 646.7 618.1 604.0 641.6 647.3 671.7 29

 30 FL573093005 Private pension funds 763.5 873.3 1029.2 921.9 958.6 995.0 1029.2 1042.7 1071.4 30

 31 FL223093005 State and local govt. retirement funds 200.1 822.8 778.3 733.1 819.1 777.0 778.3 804.4 811.3 31

 32 FL633093005 Money market funds 8.1 10.5 10.5 83.5 13.2 15.2 10.5 76.9 11.2 32

 33 FL653093005 Mutual funds 225.7 291.8 296.4 286.4 299.9 265.1 296.4 342.0 387.3 33

 34 LM563093003 Exchange-traded funds 65.9 84.9 150.3 94.0 127.8 151.9 150.3 132.8 145.0 34

 35 FL403093005 Government-sponsored enterprises 95.3 127.3 189.7 150.2 170.0 186.5 189.7 199.3 174.6 35

 36 FL613093005 Finance companies 54.3 51.4 61.4 58.1 60.0 53.8 61.4 50.2 55.7 36

 37 FL643093005 REITs 204.8 192.1 199.2 197.6 189.2 188.7 199.2 215.3 218.3 37

 38 FL663093005 Brokers and dealers 3.2 -74.3 -86.6 22.2 -45.1 -42.7 -86.6 -75.4 -93.9 38

 39 FL733093005 Holding companies 68.1 44.4 40.9 40.6 43.7 39.1 40.9 42.7 44.6 39

 40 FL903090005 Discrepancy -2684.5 -1956.0 -1725.7 -4274.8 -2843.9 -2562.5 -1725.7 -1496.3 -1018.3 40
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138 Z.1, September 23, 2021

B.101 Balance Sheet of Households and Nonprofit Organizations (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL152000005 Assets 120345.3 133338.4 147817.4 127146.3 135072.5 139595.0 147817.4 153145.6 159341.9 1

 2 LM152010005 Nonfinancial assets 37932.8 39951.3 43375.3 40650.4 41330.4 42239.0 43375.3 44547.8 46192.5 2

 3 LM155035005 Real estate 31794.7 33567.4 36602.5 34226.6 34895.6 35578.7 36602.5 37578.2 38796.2 3

 4 LM155035015 Households (2) 28507.5 29993.1 32837.7 30624.4 31269.5 31948.6 32837.7 33776.3 34878.8 4

 5 LM165035005 Nonprofit organizations 3287.2 3574.3 3764.8 3602.2 3626.1 3630.1 3764.8 3801.9 3917.4 5

 6 LM165015205 Equipment (nonprofits) (3) 438.5 459.3 485.6 468.4 474.0 479.6 485.6 495.5 498.6 6

 7 LM165013765 Intellectual property products (nonprofits) (3) 186.8 194.2 206.1 196.7 200.2 202.9 206.1 207.1 209.6 7

 8 LM155111005 Consumer durable goods (3) 5512.7 5730.5 6081.0 5758.7 5760.7 5977.8 6081.0 6267.1 6688.2 8

 9 FL154090005 Financial assets 82412.5 93387.0 104442.1 86495.9 93742.1 97356.0 104442.1 108597.8 113149.4 9

 10 LM153091003 Foreign deposits 41.8 40.8 48.6 50.2 43.7 47.7 48.6 50.0 49.4 10

 11 FL153020005 Checkable deposits and currency 1208.7 1173.4 2885.5 1316.0 1592.8 1738.8 2885.5 3314.6 3642.2 11

 12 FL153030005 Time and savings deposits 9295.7 9834.5 10310.5 10118.1 10646.8 10753.1 10310.5 10794.2 10624.6 12

 13 FL153034005 Money market fund shares 1799.0 2210.7 2548.2 2396.8 2660.0 2626.3 2548.2 2728.4 2772.8 13

 14 LM154022005 Debt securities 4424.1 4727.1 4492.7 4573.8 4316.5 4111.8 4492.7 3953.5 3772.1 14

 15 LM153061105 Treasury securities 1659.2 1775.1 1747.5 1424.1 1322.4 1395.4 1747.5 1505.3 1357.4 15

 16 LM153061705 Agency- and GSE-backed securities 587.9 685.4 314.8 695.0 443.7 371.3 314.8 212.0 246.7 16

 17 LM153062005 Municipal securities 1882.2 1904.9 1923.3 1882.5 1904.9 1911.5 1923.3 1883.5 1878.4 17

 18 LM153063005 Corporate and foreign bonds 294.8 361.7 507.0 572.2 645.5 433.7 507.0 352.6 289.6 18

 19 FL154023005 Loans 1115.3 1148.0 1257.4 1303.3 1274.7 1235.5 1257.4 1268.5 1283.0 19

 20 FL153069005 Other loans and advances (4) 999.4 1038.7 1156.6 1196.4 1170.5 1133.3 1156.6 1168.9 1185.2 20

 21 FL153065005 Mortgages 84.6 82.1 76.6 80.8 79.1 78.0 76.6 75.7 74.2 21

 22 FL163066223 Consumer credit (student loans) (5) 31.3 27.3 24.1 26.1 25.1 24.3 24.1 23.9 23.6 22

 23 LM153064105 Corporate equities 16269.8 20989.3 25634.0 16420.9 20108.1 22198.6 25634.0 28038.6 30490.0 23

 24 LM153064205 Mutual fund shares 7998.8 9966.1 11074.8 8143.8 9433.1 10025.6 11074.8 11553.9 12290.4 24

 25 FL163070005 Trade receivables (5) 263.7 271.3 279.0 273.2 275.2 277.1 279.0 280.7 282.4 25

 26 FL153040005 Life insurance reserves 1659.1 1731.3 1867.0 1733.7 1776.1 1811.9 1867.0 1854.2 1886.5 26

 27 FL153050005 Pension entitlements (6) 25812.9 27994.1 29797.8 26751.0 28039.7 28696.9 29797.8 30199.0 30951.0 27

 28 LM152090205 Equity in noncorporate business (7) 11278.5 12013.5 12891.1 12128.5 12269.0 12492.2 12891.1 13187.0 13706.8 28

 29 FL153090005 Miscellaneous assets 1245.1 1286.9 1355.6 1286.6 1306.3 1340.5 1355.6 1375.2 1398.2 29

 30 FL154190005 Liabilities 16000.2 16506.7 17129.8 16573.2 16581.1 16846.4 17129.8 17327.4 17674.4 30

 31 FL163162003 Debt securities (municipal securities) (5) 216.0 212.8 202.8 209.8 207.6 206.3 202.8 203.5 203.3 31

 32 FL154123005 Loans 15386.6 15887.9 16514.1 15953.1 15962.5 16227.9 16514.1 16707.2 17053.5 32

 33 FL153165105 One-to-four-family residential mortgages (8) 10204.4 10482.8 10925.7 10544.4 10626.7 10785.8 10925.7 11047.5 11270.3 33

 34 FL153166000 Consumer credit 4007.0 4192.2 4185.0 4147.8 4097.3 4142.7 4185.0 4167.2 4266.5 34

 35 FL153168005 Depository institution loans n.e.c. 339.0 350.2 370.5 383.9 375.8 364.6 370.5 369.8 371.5 35

 36 FL153169005 Other loans and advances 580.0 603.8 772.4 617.7 603.0 674.7 772.4 862.1 884.2 36

 37 FL163165505 Commercial mortgages (5) 256.1 259.0 260.4 259.3 259.7 260.0 260.4 260.7 260.9 37

 38 FL163170005 Trade payables (5) 362.6 369.5 376.3 371.2 372.9 374.6 376.3 378.0 379.7 38

 39 FL543077073 Deferred and unpaid life insurance premiums 35.0 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 39

 40 FL152090005 Net worth 104345.0 116831.7 130687.6 110573.1 118491.4 122748.6 130687.6 135818.2 141667.5 40

 Memo:

 41 FL893131573 Assets held in IRAs (9) 9135.0 10850.0 12210.0 9365.0 10640.0 11190.0 12210.0 12555.0 ND 41

 42 FL154023205 Assets held in 529 college plans (9) 311.3 371.4 425.3 329.9 373.5 387.4 425.3 438.4 464.3 42

 43 LM154023223 College savings plans 288.8 346.3 398.6 306.2 348.2 361.7 398.6 412.3 437.2 43

 44 FL154023213 Prepaid tuition plans 22.5 25.1 26.7 23.7 25.3 25.8 26.7 26.0 27.2 44

 Replacement-cost value of structures:

 45 LM155012605 Residential 18193.7 18882.9 20254.8 19114.8 19257.0 19805.3 20254.8 20960.8 21814.2 45

 46 LM155012665 Households 17897.4 18578.7 19935.6 18808.6 18950.3 19491.5 19935.6 20631.0 21471.5 46

 47 LM165012665 Nonprofit organizations 296.3 304.2 319.2 306.2 306.8 313.8 319.2 329.8 342.7 47

 48 LM165013665 Nonresidential (nonprofits) 1916.2 2010.6 2055.3 2030.2 2034.6 2046.5 2055.3 2077.9 2125.0 48

 49 FA156012005 Disposable personal income (DPI) (SAAR) 15629.7 16219.3 17432.0 16600.6 18249.6 17595.7 17282.2 19455.3 18014.5 49

 50 FL152090006 Net worth/DPI (percent) (line 40/line 49) 667.61 720.33 749.70 666.08 649.28 697.61 756.20 698.11 786.41 50

 51 FL155035065 Owners’ equity in real estate (line 4 less line 33) 18303.1 19510.3 21912.0 20080.0 20642.8 21162.8 21912.0 22728.8 23608.5 51

 52 FL155035066 Owners’ equity/real estate (percent) (line 51/line 4) 64.20 65.05 66.73 65.57 66.02 66.24 66.73 67.29 67.69 52

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary balance sheet tables B.101.h and B.101.n show estimates of annual year-end outstandings of

 households and nonprofit organizations, respectively. Detail on the sector’s indirect holdings of debt securities and equity is shown on table B.101.e.

(2) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land. At market value.

(3) At replacement (current) cost.

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

(5) Student loans and trade receivables are financial assets of nonprofit organizations; municipal securities, commercial mortgages, and trade payables are liabilities.

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

(7) Net worth of nonfinancial noncorporate business (table B.104, line 35) and owners’ equity in unincorporated security brokers and dealers.

(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens (table L.218, line 23).

(9) Included in assets shown on the household balance sheet.
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B.103 Balance Sheet of Nonfinancial Corporate Business

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL102000005 Assets 42376.1 47374.2 50121.7 47701.7 48383.0 49001.8 50121.7 50934.8 52091.9 1

 2 LM102010005 Nonfinancial assets 23263.5 24892.2 25863.0 25042.4 25144.4 25176.5 25863.0 26166.7 26743.6 2

 3 LM105035005 Real estate (market value) 12991.7 14204.0 14828.3 14297.1 14368.8 14293.4 14828.3 14909.8 15322.6 3

 4 LM105015205 Equipment (replacement cost) 5074.2 5254.9 5355.7 5304.7 5323.5 5337.9 5355.7 5421.4 5414.6 4

 5 LM105013765 Intellectual property products (replacement cost) 2626.1 2790.1 3013.0 2842.0 2908.3 2952.7 3013.0 3051.3 3107.4 5

 6 LM105020015 Inventories (replacement cost) 2571.5 2643.2 2666.1 2598.7 2543.8 2592.5 2666.1 2784.2 2899.0 6

 7 FL104090005 Financial assets 19112.5 22481.9 24258.7 22659.3 23238.5 23825.3 24258.7 24768.1 25348.3 7

 8 FL103091003 Foreign deposits 106.3 131.0 142.8 111.3 145.3 159.8 142.8 142.3 176.8 8

 9 FL103020000 Checkable deposits and currency 1189.7 1339.9 1999.4 1559.9 2014.0 2094.2 1999.4 1974.5 1994.4 9

 10 FL103030003 Time and savings deposits 187.2 201.5 305.0 298.9 329.8 330.2 305.0 295.0 301.7 10

 11 FL103034000 Money market fund shares 466.1 558.3 677.9 919.6 868.9 686.8 677.9 628.6 609.7 11

 12 FL102051003 Security repurchase agreements 14.6 13.4 39.8 27.4 32.4 30.3 39.8 23.9 39.0 12

 13 LM104022005 Debt securities 253.2 326.6 381.0 374.5 394.9 391.4 381.0 349.5 380.0 13

 14 FL103069100 Commercial paper 162.1 217.6 255.7 227.8 219.9 238.4 255.7 239.1 275.3 14

 15 LM103061103 Treasury securities 54.4 63.6 75.2 92.2 112.9 96.2 75.2 64.0 59.5 15

 16 LM103061703 Agency- and GSE-backed securities 18.1 21.2 25.1 30.7 37.6 32.1 25.1 21.3 19.8 16

 17 LM103062003 Municipal securities 18.5 24.2 25.1 23.8 24.4 24.7 25.1 25.0 25.3 17

 18 FL104023005 Loans 70.7 72.2 74.6 71.7 72.4 73.2 74.6 74.1 74.8 18

 19 FL103065003 Mortgages 34.2 36.4 38.8 37.0 37.6 38.2 38.8 39.4 40.0 19

 20 FL103066005 Consumer credit 36.5 35.8 35.8 34.7 34.8 35.1 35.8 34.7 34.8 20

 21 LM103064103 Corporate equities 1789.9 2317.7 2552.1 1833.4 2168.3 2318.6 2552.1 2667.6 2853.7 21

 22 LM103064203 Mutual fund shares 269.9 326.4 376.4 276.9 321.6 342.8 376.4 390.7 415.3 22

 23 FL103070005 Trade receivables 3512.7 4053.2 4082.9 3957.3 3740.8 3944.1 4082.9 4243.2 4439.7 23

 24 LM103092005 U.S. direct investment abroad (1) 5411.8 6365.2 6885.4 4851.1 5743.6 6040.0 6885.4 7284.2 7756.8 24

 25 FL103090005 Miscellaneous assets 5840.5 6776.4 6741.3 8377.3 7406.6 7413.9 6741.3 6694.3 6314.6 25

 26 FL104190005 Liabilities 20371.9 22974.3 24289.3 23586.9 23882.3 24015.3 24289.3 24646.5 24807.7 26

 27 FL104122005 Debt securities 6310.2 6580.5 7198.2 6814.7 7175.9 7191.5 7198.2 7315.3 7327.9 27

 28 FL103169100 Commercial paper 196.5 194.5 132.2 243.1 166.1 122.2 132.2 144.1 133.9 28

 29 FL103162000 Municipal securities (2) 571.3 586.5 591.2 589.1 590.2 591.1 591.2 591.6 596.8 29

 30 FL103163003 Corporate bonds (1) 5542.4 5799.5 6474.9 5982.4 6419.6 6478.2 6474.9 6579.5 6597.1 30

 31 FL104123005 Loans 3339.3 3550.4 3862.0 3978.2 4017.3 3863.9 3862.0 3938.9 3910.6 31

 32 FL103168005 Depository institution loans n.e.c. 1003.1 1034.0 1111.6 1368.0 1361.6 1164.0 1111.6 1119.8 1023.2 32

 33 FL103169005 Other loans and advances 1709.8 1837.7 2027.4 1924.2 1958.1 1993.3 2027.4 2082.2 2123.0 33

 34 FL103165005 Mortgages 626.5 678.7 723.1 686.0 697.6 706.6 723.1 737.0 764.4 34

 35 FL103170005 Trade payables 2690.4 2920.5 3051.2 2821.1 2694.0 2904.5 3051.2 3146.7 3305.8 35

 36 FL103178005 Taxes payable 266.7 259.9 273.7 285.3 314.1 267.9 273.7 275.7 227.4 36

 37 LM103192305 Foreign direct investment: intercompany debt 408.2 410.7 366.9 396.3 383.4 383.9 366.9 353.8 351.1 37

 38 FL103190005 Miscellaneous liabilities 7357.1 9252.3 9537.4 9291.3 9297.6 9403.5 9537.4 9616.1 9684.9 38

 39 FL102090005 Net worth 22004.2 24399.8 25832.3 24114.8 24500.7 24986.6 25832.3 26288.3 27284.2 39

 Memo:

 40 LM103164103 Corporate equities (market value) 26543.6 33680.3 41960.8 27002.7 33391.0 36930.1 41960.8 44859.4 48489.5 40

 41 LM103164113 Public issues 21728.9 27633.7 35190.0 22367.7 27794.1 30773.7 35190.0 37141.1 40346.4 41

 42 LM103164123 Private issues 4814.7 6046.6 6770.8 4635.0 5596.9 6156.4 6770.8 7718.3 8143.1 42

 43 LM103192105 Foreign direct investment: equity 5813.2 7498.2 8712.1 5993.6 7192.3 7830.7 8712.1 9235.9 10090.8 43

 44 FL103164106 Equities/net worth (percent) (3) 147.05 168.77 196.16 136.83 165.64 179.14 196.16 205.78 214.70 44

 45 FL104104016 Debt/equities (percent) (3) 29.82 24.60 21.83 32.71 27.58 24.70 21.83 20.80 19.18 45

 46 FL104104006 Debt/net worth (percent) (3) 43.85 41.52 42.82 44.76 45.68 44.25 42.82 42.81 41.19 46

 With nonfinancial assets stated at historical cost:

 47 FL102000115 Assets (sum of lines 7 and 48) 34888.6 39080.4 41257.4 39383.7 40036.5 40681.8 41257.4 42002.5 42771.1 47

 48 FL102010115 Nonfinancial assets 15776.1 16598.5 16998.7 16724.4 16797.9 16856.4 16998.7 17234.5 17422.8 48

 49 FL105035045 Real estate 6256.9 6597.2 6785.8 6660.8 6710.0 6740.9 6785.8 6822.2 6855.7 49

 50 FL105013213 Equipment 4875.4 5058.9 5145.8 5085.5 5089.9 5113.3 5145.8 5184.5 5223.9 50

 51 FL105013715 Intellectual property products 2435.4 2592.9 2743.9 2632.3 2666.1 2702.9 2743.9 2789.1 2839.1 51

 52 FL105020000 Inventories 2208.4 2349.6 2323.2 2345.8 2331.9 2299.3 2323.2 2438.6 2504.1 52

 53 FL102090115 Net worth (historical cost) (line 47 less line 26) 14516.7 16106.1 16968.0 15796.8 16154.2 16666.5 16968.0 17356.0 17963.4 53

 Memo:

 Historical-cost value of structures:

 54 FL105012613 Residential 110.0 115.7 122.0 117.3 118.5 120.1 122.0 123.9 125.9 54

 55 FL105013613 Nonresidential 5528.6 5782.2 5962.3 5844.1 5887.9 5926.8 5962.3 5999.2 6035.7 55

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

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

(3) Debt is calculated as the sum of debt securities (line 27) and loans (line 31). The ratios on line 44 and 45 use the sum of corporate equities (line 40) and foreign direct investment: equity (line 43).
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140 Z.1, September 23, 2021

B.104 Balance Sheet of Nonfinancial Noncorporate Business

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL112000005 Assets 19664.3 20822.2 22268.1 21105.1 21487.9 21844.9 22268.1 22653.4 23243.8 1

 2 LM112010005 Nonfinancial assets 13818.8 14641.9 15538.8 14741.0 14900.9 15136.1 15538.8 15844.9 16371.0 2

 3 LM115035005 Real estate (1) 12416.7 13202.9 14067.5 13302.3 13461.5 13682.5 14067.5 14328.8 14824.7 3

 4 LM115035023 Residential 7013.1 7437.3 8087.8 7510.1 7637.6 7866.2 8087.8 8324.0 8684.8 4

 5 LM115035035 Nonresidential 5403.6 5765.6 5979.8 5792.2 5823.9 5816.3 5979.8 6004.9 6139.9 5

 6 LM115015205 Equipment (2) 863.9 885.9 909.9 895.3 900.0 905.4 909.9 942.7 964.6 6

 7 LM115012265 Residential (3) 56.4 56.6 65.7 57.5 59.1 62.9 65.7 66.9 69.5 7

 8 LM115013265 Nonresidential 807.5 829.2 844.1 837.9 841.0 842.6 844.1 875.8 895.2 8

 9 LM115013765 Intellectual property products (2) 277.1 295.0 316.6 299.0 305.7 309.6 316.6 316.8 318.1 9

 10 LM115020005 Inventories (2) 261.1 258.2 244.7 244.3 233.6 238.6 244.7 256.7 263.6 10

 11 FL114090005 Financial assets 5845.5 6180.3 6729.3 6364.1 6586.9 6708.8 6729.3 6808.5 6872.7 11

 12 FL113020005 Checkable deposits and currency 317.5 337.9 442.0 395.9 444.3 442.4 442.0 464.2 477.5 12

 13 FL113030003 Time and savings deposits 1047.9 1106.5 1229.0 1181.2 1238.9 1235.2 1229.0 1262.8 1281.7 13

 14 FL113034003 Money market fund shares 104.6 110.4 119.5 113.9 118.3 119.7 119.5 120.2 120.6 14

 15 LM114022005 Debt securities 75.8 80.0 86.6 82.6 85.8 86.8 86.6 84.0 84.3 15

 16 LM113061003 Treasury securities 70.2 74.1 80.2 76.5 79.4 80.4 80.2 77.4 77.7 16

 17 LM113062003 Municipal securities 5.6 5.9 6.4 6.1 6.4 6.4 6.4 6.6 6.6 17

 18 FL114023005 Loans 49.0 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 18

 19 FL113065005 Mortgages 49.0 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 19

 20 FL113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL113070003 Trade receivables 852.6 900.3 947.3 911.7 925.3 936.6 947.3 961.1 964.3 21

 22 FL113090005 Miscellaneous assets 3398.2 3593.4 3848.9 3625.4 3718.8 3831.8 3848.9 3858.6 3886.7 22

 23 FL113076005 Insurance receivables 119.0 129.0 145.2 132.3 137.1 142.7 145.2 146.5 147.8 23

 24 FL113092405 Equity investment in GSEs (4) 12.5 12.8 13.0 12.6 12.8 13.0 13.0 13.0 13.6 24

 25 FL113072003 PPP subsidies receivable 0.0 0.0 117.5 0.0 51.0 123.5 117.5 122.7 163.9 25

 26 FL113093005 Other 3266.7 3451.7 3573.1 3480.5 3517.9 3552.7 3573.1 3576.3 3561.3 26

 27 FL114190005 Liabilities 8384.4 8786.5 9346.2 8977.6 9206.7 9331.9 9346.2 9432.9 9502.0 27

 28 FL114123005 Loans 5863.6 6135.7 6646.0 6291.2 6527.5 6618.5 6646.0 6705.6 6739.4 28

 29 FL113168005 Depository institution loans n.e.c. 1465.2 1481.2 1654.5 1569.2 1709.4 1716.8 1654.5 1650.0 1603.3 29

 30 FL113169005 Other loans and advances 247.8 256.4 352.4 262.2 303.2 331.8 352.4 364.6 387.8 30

 31 FL113165005 Mortgages 4150.7 4398.1 4639.1 4459.8 4514.9 4569.9 4639.1 4691.0 4748.4 31

 32 FL113170005 Trade payables 598.6 641.5 615.7 644.2 606.2 619.9 615.7 640.9 651.9 32

 33 FL113178003 Taxes payable 155.6 164.0 177.1 169.1 175.5 177.5 177.1 181.8 182.4 33

 34 LM115114305 Foreign direct investment: intercompany debt 7.1 7.1 6.5 6.8 6.7 6.6 6.5 6.3 6.1 34

 35 FL113193003 Miscellaneous liabilities 1759.5 1838.2 1900.8 1866.2 1890.9 1909.4 1900.8 1898.2 1922.2 35

 36 FL112090005 Net worth 11279.9 12035.7 12921.9 12127.5 12281.2 12513.0 12921.9 13220.5 13741.8 36

 Memo:

 37 LM112090205 Proprietors’ net investment (5) 11200.3 11930.0 12800.7 12043.7 12180.5 12405.1 12800.7 13093.3 13608.9 37

 38 LM115114103 Foreign direct investment: equity 79.6 105.6 121.2 83.8 100.6 107.9 121.2 127.3 132.9 38

 Replacement-cost value of structures:

 39 FL115012665 Residential 3848.6 3935.7 4118.5 3957.4 3961.1 4049.8 4118.5 4257.9 4428.6 39

 40 FL115013665 Nonresidential 2258.6 2366.3 2402.8 2386.4 2387.4 2396.9 2402.8 2421.2 2467.5 40

 41 FL114104006 Debt/net worth (percent) (line 27/line 36) 51.98 50.98 51.43 51.88 53.15 52.89 51.43 50.72 49.04 41

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Included in table B.101, line 28.
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Z.1, September 23, 2021 141

R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FC152090005 Change in net worth (1) 871.6 12486.6 13855.9 -6258.6 7918.3 4257.2 7938.9 5130.6 5849.4 1

 2 FU155060005 Net investment 1604.7 2107.9 3231.6 720.1 1242.3 381.8 887.3 863.5 442.1 2

 3 FU155061005 Net physical investment 542.2 531.6 614.2 126.3 94.9 193.9 199.2 257.3 270.8 3

 4 FU155050005 Capital expenditures 2223.4 2286.4 2453.7 577.9 549.8 652.9 673.2 730.3 759.1 4

 5 FU155012005 Residential 663.6 673.4 738.5 179.8 163.2 188.2 207.3 216.8 214.2 5

 6 FU165013005 Nonprofit nonresidential 204.1 213.7 217.1 54.3 46.7 58.2 58.0 59.1 59.6 6

 7 FU155111003 Consumer durable goods 1369.3 1413.4 1512.5 347.4 343.5 410.1 411.5 458.0 489.1 7

 8 FU155420003 Nonproduced nonfinancial assets -13.5 -14.0 -14.4 -3.5 -3.6 -3.6 -3.7 -3.7 -3.8 8

 9 FU156300005 - Consumption of fixed capital 1681.2 1754.8 1839.5 451.6 454.8 459.1 474.0 473.0 488.3 9

 10 FU156320005 Residential 419.4 436.8 459.2 112.1 113.1 115.8 118.3 121.9 126.2 10

 11 FU166330005 Nonprofit nonresidential 155.5 163.5 171.8 41.9 42.3 43.3 44.3 45.6 47.2 11

 12 FU156300103 Consumer durable goods 1106.4 1154.5 1208.5 297.6 299.5 300.0 311.4 305.5 314.8 12

 13 FU155000005 Net lending (+) or net borrowing (-) 1062.4 1576.3 2617.3 593.8 1147.4 188.0 688.1 606.2 171.3 13

 14 FU154090005 Net acquisition of financial assets 1541.7 2098.6 3244.0 658.4 1157.2 455.4 973.0 805.0 519.2 14

 15 FU154190005 - Net increase in liabilities 479.3 522.3 626.7 64.5 9.8 267.4 284.9 198.8 347.9 15

 16 FR158000005 Net holding gains -767.1 9823.2 10365.7 -6789.7 6700.2 3803.9 6651.3 4027.1 5346.8 16

 17 FR152010085 Nonfinancial assets 1493.1 1496.8 2811.2 573.2 585.9 714.1 938.0 915.2 1373.6 17

 18 FR155035005 Real estate 1540.2 1537.3 2755.0 589.5 620.4 609.1 936.0 881.2 1130.7 18

 19 FR165015205 Equipment (2) -0.5 -0.9 3.3 3.7 3.9 -2.2 -2.0 1.7 -4.5 19

 20 FR165013765 Intellectual property products (2) 3.2 1.4 6.3 1.6 3.6 0.2 1.0 -1.2 0.4 20

 21 FR155111005 Consumer durable goods (2) -49.8 -41.1 46.5 -21.6 -42.0 107.0 3.1 33.6 246.9 21

 22 FR154090005 Financial assets -2260.2 8326.5 7554.6 -7362.8 6114.3 3089.8 5713.3 3111.9 3973.3 22

 23 FR154022005 Debt securities -75.3 204.9 198.4 124.5 67.4 -1.1 7.6 -153.7 49.7 23

 24 FR153064105 Corporate equities -1487.7 4345.6 4159.1 -4621.7 3524.9 1846.8 3409.1 2278.5 2153.5 24

 25 FR153064205 Mutual fund shares -670.4 1499.4 1168.2 -1579.8 1227.0 534.3 986.6 332.2 628.2 25

 26 FR153040005 Life insurance reserves -16.9 55.5 41.5 -46.9 39.8 16.3 32.4 7.6 25.4 26

 27 FR153050005 Pension entitlements -502.4 1502.2 1159.4 -1402.7 1136.5 498.2 927.3 306.0 633.2 27

 28 FR152090205 Equity in noncorporate business 491.0 715.3 826.8 162.2 118.1 195.5 351.0 340.7 483.5 28

 29 FR153094305 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FR153030005 Other financial assets 1.5 3.6 1.2 1.6 0.5 -0.2 -0.7 0.7 -0.2 30

 31 FV158090005 Other volume changes (3) 34.1 555.5 258.6 -189.1 -24.2 71.5 400.3 240.0 60.4 31

 Memo:

 32 FL152090005 Net worth outstanding (4) 104345.0 116831.7 130687.6 110573.1 118491.4 122748.6 130687.6 135818.2 141667.5 32

 33 FA156012005 Disposable personal income 15629.7 16219.3 17432.0 16600.6 18249.6 17595.7 17282.2 19455.3 18014.5 33

(1) Sum of net investment (line 2), net holding gains (line 16), and other volume changes (line 31).

(2) Valued at current cost.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.101, line 40.
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142 Z.1, September 23, 2021

R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FC102090005 Change in net worth (1) 706.0 2395.7 1432.5 -285.0 385.9 485.8 845.8 455.9 996.0 1

 2 FU105060005 Net investment 191.8 737.0 333.1 166.0 -162.7 381.7 -51.9 156.5 310.9 2

 3 FU105061005 Net physical investment 554.9 543.0 274.6 95.9 -39.3 128.8 89.2 158.2 124.7 3

 4 FU105050005 Capital expenditures 2065.2 2184.6 1960.8 540.5 396.4 533.8 490.0 532.2 489.3 4

 5 FU105019005 Fixed investment 2011.9 2111.4 2009.3 519.6 479.6 498.4 511.8 532.3 547.2 5

 6 FU105020005 Inventory change + IVA 55.0 73.3 -48.3 21.4 -82.5 33.8 -21.0 -4.0 -57.2 6

 7 FU105420005 Nonproduced nonfinancial assets -1.7 -0.1 -0.2 -0.6 -0.7 1.7 -0.7 3.8 -0.7 7

 8 FU106300005 - Consumption of fixed capital 1558.0 1641.7 1704.3 421.3 424.4 427.0 431.6 436.3 445.1 8

 9 FU106320005 Residential 3.8 4.1 4.3 1.2 1.0 1.0 1.1 1.2 1.2 9

 10 FU106330005 Nonresidential 1554.2 1637.6 1700.0 420.1 423.4 426.0 430.5 435.2 443.9 10

 11 FU105020601 - Inventory valuation adjustment -47.7 -0.0 -18.2 23.3 11.3 -22.0 -30.7 -62.4 -80.5 11

 12 FU105000005 Net lending (+) or net borrowing (-) 18.9 435.7 47.4 134.6 -141.3 201.3 -147.1 -41.0 167.4 12

 13 FU104090005 Net acquisition of financial assets 865.9 2396.4 1373.5 682.6 172.0 385.9 133.0 355.4 347.4 13

 14 FU104194005 - Net increase in liabilities and equity 847.0 1960.7 1326.1 548.0 313.4 184.5 280.2 396.4 179.9 14

 15 FU103164103 Net corporate equity issues -617.4 -457.8 -168.8 -96.5 -14.5 10.5 -68.3 -36.5 -68.3 15

 16 FU103192105 Foreign direct investment: equity 235.5 216.1 179.9 31.9 32.5 41.0 74.5 75.8 87.0 16

 17 FR108000005 Net holding gains 127.6 1620.0 1141.9 -440.5 555.1 126.6 900.6 317.0 708.9 17

 18 FR102010005 Nonfinancial assets 270.3 1047.0 738.7 64.7 147.9 -74.3 600.3 163.1 467.8 18

 19 FR105035005 Real estate 137.3 1005.3 554.2 61.0 51.0 -77.5 519.7 71.1 404.5 19

 20 FR105015205 Equipment (2) 62.0 8.2 24.0 25.8 16.9 -6.6 -12.2 29.3 -44.3 20

 21 FR105013765 Intellectual property products (2) 48.8 35.1 107.5 20.6 41.1 16.8 29.0 2.9 16.1 21

 22 FR105020015 Inventories (2,3) 22.2 -1.6 53.0 -42.7 38.9 -7.0 63.8 59.8 91.5 22

 23 FR108080095 Financial assets -142.7 573.0 403.2 -505.2 407.2 200.9 300.3 154.0 241.2 23

 24 FR104022005 Debt securities -1.9 4.1 1.9 5.6 -0.7 -1.3 -1.7 -5.0 1.3 24

 25 FR103064103 Corporate equities -118.7 517.7 362.0 -458.6 365.8 183.7 271.0 147.3 218.0 25

 26 FR103064203 Mutual fund shares -22.1 51.2 39.4 -52.2 42.1 18.5 31.0 11.7 21.9 26

 27 FR103092005 Direct investment abroad -1173.5 933.4 293.7 -1507.4 752.1 248.8 800.1 314.6 354.9 27

 28 FR103090005 Miscellaneous assets 1173.5 -933.4 -293.7 1507.4 -752.1 -248.8 -800.1 -314.6 -354.9 28

 29 FR108100005 Less: liabilities 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 29

 30 FR103192305 Foreign direct investment: intercompany debt 9.1 7.8 -2.1 0.6 -5.0 4.6 -2.2 -10.9 10.3 30

 31 FR573073005 Claims of pension fund on sponsor 152.0 -434.6 -316.0 328.6 -305.1 -118.3 -221.3 -36.8 -160.9 31

 32 FR103193005 Miscellaneous liabilities -161.2 426.8 318.1 -329.2 310.1 113.7 223.4 47.7 150.6 32

 33 FV108090005 Other volume changes (4) 386.6 38.7 -42.5 -10.5 -6.6 -22.5 -3.0 -17.6 -23.8 33

 Memo:

 34 FL102090005 Net worth outstanding (5) 22004.2 24399.8 25832.3 24114.8 24500.7 24986.6 25832.3 26288.3 27284.2 34

(1) Sum of net investment (line 2), net holding gains (line 17), and other volume changes (line 33).

(2) Valued at current cost.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 36.
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Z.1, September 23, 2021 143

R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FC112090005 Change in net worth (1) 502.1 755.8 886.3 91.9 153.7 231.8 408.9 298.6 521.2 1

 2 FU115440005 Net capital transfers paid -3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FU115060005 Net investment -23.9 12.8 44.8 -48.7 19.2 29.1 45.1 -48.3 33.9 3

 4 FU115061005 Net physical investment 82.5 84.3 59.5 -35.1 25.2 31.9 37.6 -45.0 40.0 4

 5 FU115050005 Capital expenditures 419.9 436.0 423.7 54.6 115.6 123.3 130.2 49.3 136.9 5

 6 FU115019005 Fixed investment 416.2 435.7 434.9 56.9 125.9 123.3 128.7 52.8 143.0 6

 7 FU115020005 Change in inventories 3.7 0.3 -11.2 -2.3 -10.3 -0.1 1.5 -3.5 -6.1 7

 8 FU116300005 - Consumption of fixed capital 337.4 351.7 364.1 89.8 90.3 91.4 92.6 94.4 96.9 8

 9 FU116320005 Residential 100.4 104.0 108.3 27.7 27.8 26.7 26.1 24.8 24.2 9

 10 FU116330005 Nonresidential 237.1 247.8 255.8 62.1 62.5 64.7 66.5 69.5 72.7 10

 11 FU115000005 Net lending (+) or net borrowing (-) -79.5 -84.3 -59.5 35.1 -25.2 -31.9 -37.6 45.0 -40.0 11

 12 FU114090005 Net acquisition of financial assets 309.1 331.5 545.4 177.7 223.4 122.5 21.9 83.7 63.2 12

 13 FU114194005 - Net increase in liabilities and equity 388.6 415.8 605.0 142.5 248.6 154.3 59.5 38.7 103.1 13

 14 FU112090205 Proprietor’s net investment (2) -31.9 13.5 43.3 -48.7 18.6 28.9 44.5 -48.2 32.0 14

 15 FU115114103 Foreign direct investment: equity 5.0 -0.7 1.4 0.0 0.7 0.1 0.6 -0.1 1.9 15

 16 FR118000005 Net holding gains 538.2 742.0 840.9 140.3 134.3 202.6 363.7 346.8 487.2 16

 17 FR112010005 Nonfinancial assets 539.5 738.8 837.4 134.3 134.7 203.3 365.1 351.2 486.1 17

 18 FR115035023 Residential real estate 437.9 400.8 620.6 94.7 112.0 202.7 211.2 255.9 326.9 18

 19 FR115035035 Nonresidential real estate 62.4 313.5 169.6 21.4 17.5 -21.1 151.9 25.1 125.5 19

 20 FR115012265 Residential equipment (3) 3.3 -2.3 6.8 0.4 1.2 3.0 2.2 0.3 2.2 20

 21 FR115013265 Nonresidential equipment (3) 34.3 26.5 33.3 27.2 3.7 11.3 -8.9 57.3 20.7 21

 22 FR115013765 Intellectual property products (3) 4.3 3.6 9.2 2.0 0.7 2.4 4.1 -2.8 -2.2 22

 23 FR115020005 Inventories (3) -2.7 -3.2 -2.2 -11.5 -0.4 5.0 4.6 15.4 13.1 23

 24 FR114022005 Financial assets (debt securities) -1.2 3.2 3.5 6.1 -0.5 -0.6 -1.4 -4.5 1.1 24

 Less: liabilities (foreign direct

 25 FR115114305 investment: intercompany debt) 0.1 0.1 -0.0 0.0 -0.1 0.1 -0.0 -0.2 0.0 25

 26 FV118090005 Other volume changes (4) -9.2 1.0 0.5 0.2 0.1 0.1 0.1 0.1 0.1 26

 Memo:

 27 LM112090005 Net worth outstanding (5) 11279.9 12035.7 12921.9 12127.5 12281.2 12513.0 12921.9 13220.5 13741.8 27

(1) Sum of net capital transfers paid (line 2), net investment (line 3), net holding gains (line 16), and other volume changes (line 26).

(2) Shown on table F.104, line 35.

(3) Valued at current cost.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.104, line 36.
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144 Z.1, September 23, 2021

B.101.h Balance Sheet of Households (1)

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

2012 2013 2014 2015 2016 2017 2018 2019 2020

 

 1 FL192000005 Assets 80963.9 89281.1 95068.3 98068.9 103202.4 111905.3 113192.6 125594.5 139575.0 1

 2 LM192010005 Nonfinancial assets 23310.4 25130.2 26571.0 28248.1 30137.5 32138.7 34020.2 35723.6 38918.7 2

 3 LM155035015 Real estate (2) 18582.9 20350.6 21711.6 23241.1 24975.0 26839.1 28507.5 29993.1 32837.7 3

 4 LM155111005 Consumer durable goods (3) 4727.5 4779.6 4859.3 5007.0 5162.5 5299.6 5512.7 5730.5 6081.0 4

 5 FL194090005 Financial assets 57653.5 64150.9 68497.3 69820.8 73064.8 79766.6 79172.4 89870.9 100656.2 5

 6 FL193020005 Checkable deposits and currency 799.9 983.0 964.7 1060.8 959.6 1126.3 1042.3 1002.7 2711.7 6

 7 FL193030205 Time deposits and short-term investments 6593.3 6761.1 7259.6 7829.9 8492.8 8621.5 9061.6 9601.7 10097.7 7

 8 FL193034005 Money market fund shares 1534.8 1533.4 1498.8 1476.5 1472.6 1530.8 1702.3 2096.7 2407.3 8

 9 LM194022005 Debt securities 4746.1 3652.5 3774.8 3691.5 3414.9 3385.5 4109.5 4397.4 4150.7 9

10 LM193061005 U.S. government and municipal securities 3329.2 2791.1 2839.7 3296.3 3260.9 3310.8 4010.5 4242.3 3858.2 10

11 LM193063005 Corporate and foreign bonds 1416.8 861.4 935.1 395.3 154.0 74.7 99.0 155.1 292.5 11

12 FL194023005 Loans 882.1 939.1 982.7 917.1 907.5 849.8 841.9 864.9 980.2 12

13 FL153067005 Other loans and advances (4) 758.1 818.2 870.3 819.2 815.3 760.4 758.4 784.0 904.8 13

14 FL193065005 Mortgages 124.1 120.9 112.4 97.9 92.3 89.3 83.5 80.9 75.4 14

15 LM193064005 Corporate equities and mutual fund shares 13704.3 17257.9 19420.4 19180.3 20813.2 24679.5 22419.3 28881.6 34432.6 15

16 FL153040005 Life insurance reserves 1352.6 1407.8 1472.1 1510.9 1568.1 1626.6 1659.1 1731.3 1867.0 16

17 FL153050005 Pension entitlements (5) 19730.3 22275.0 23102.8 23430.8 24317.6 25931.6 25812.9 27994.1 29797.8 17

18 LM152090205 Equity in noncorporate business (6) 7338.6 8316.2 8978.6 9641.0 9979.6 10822.1 11278.5 12013.5 12891.1 18

19 FL193090005 Miscellaneous assets 971.5 1024.9 1042.8 1082.1 1138.8 1193.0 1245.1 1286.9 1320.1 19

20 FL194190005 Liabilities 13175.8 13417.8 13528.7 13700.6 14095.3 14628.8 15096.8 15596.6 16222.0 20

21 FL194123005 Loans 13150.1 13389.1 13498.8 13668.9 14064.0 14595.7 15061.8 15560.1 16185.4 21

22 FL153165105 One-to-four-family residential mortgages (7) 9537.1 9437.0 9387.3 9492.8 9658.8 9928.8 10204.4 10482.8 10925.7 22

23 FL153166000 Consumer credit 2912.9 3090.5 3309.5 3400.2 3636.4 3830.8 4007.0 4192.2 4185.0 23

24 FL193168005 Depository institution loans n.e.c. 149.2 161.4 172.4 217.2 223.4 225.7 270.4 281.3 302.3 24

25 FL193169005 Other loans and advances 551.0 700.2 629.5 558.7 545.3 610.5 580.0 603.8 772.4 25

26 FL543077073 Deferred and unpaid life insurance premiums 25.7 28.7 29.9 31.6 31.3 33.1 35.0 36.5 36.6 26

27 FL192090005 Net worth 67788.1 75863.3 81539.6 84368.4 89107.1 97276.5 98095.8 109997.9 123353.0 27

 Memo:

 Reconciliation with household and

 nonprofit organization sector net worth: (8)

28 FL152090005 Household and nonprofit net worth (B.101, line 40) 71900.9 80611.0 86613.7 89638.8 94743.7 103473.4 104345.0 116831.7 130687.6 28

29 FL152000005 Household and nonprofit total assets (B.101, line 1) 85895.3 94835.2 100984.3 104202.9 109726.3 119009.4 120345.3 133338.4 147817.4 29

30 FL192000005 Household total assets (B.101.h, line 1) 80963.9 89281.1 95068.3 98068.9 103202.4 111905.3 113192.6 125594.5 139575.0 30

31 FL162000005 Nonprofit total assets (B.101.n, line 1) 6132.4 6873.4 7291.1 7564.0 8065.3 8841.9 8849.0 9485.9 10031.5 31

32 FL163093005 Less: Nonprofit misc. assets (B.101.n, line 19) 1276.7 1410.5 1488.3 1536.1 1654.9 1845.1 1799.0 1858.5 1903.5 32

33 FL153069803 Plus: Domestic hedge fund syndicated loans (9) 75.6 91.1 113.2 106.1 113.5 107.3 102.7 116.6 114.4 33

34 FL154190005 Less: Household and nonprofit liabilities (B.101, line 30) 13994.4 14224.1 14370.6 14564.1 14982.5 15536.0 16000.2 16506.7 17129.8 34

35 FL194190005 Household liabilities (B.101.h, line 20) 13175.8 13417.8 13528.7 13700.6 14095.3 14628.8 15096.8 15596.6 16222.0 35

36 FL164190005 Nonprofit liabilities (B.101.n, line 20) 1589.3 1609.6 1723.3 1808.6 1833.3 1926.1 1912.4 1940.5 1965.5 36

37 FL163193005 Less: Nonprofit misc. liabilities (B.101.n, line 27) 770.7 803.2 881.4 945.1 946.1 1018.9 1008.9 1030.4 1057.7 37

(1) Table is based on table B.101 Balance Sheet of Households and Nonprofit Organizations, with adjustments to remove the assets and liabilities of nonprofit organizations, shown on table B.101.n.

(2) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land, at market value.

(3) At replacement (current) cost.

(4) Cash accounts at brokers and dealers.

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

(6) Net worth of nonfinancial noncorporate business (table B.104, line 35) and owners’ equity in unincorporated security brokers and dealers.

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

(8) Some financial asset and liability items shown on the supplemental balance sheet of nonprofit organizations (table B.101.n) are not included on the balance sheet of the household and nonprofit

 organization sector (table B.101). Therefore, some adjustments are necessary to reconcile the combined assets and liabilities of the household sector (table B.101.h) and nonprofit organization sector

 (table B.101.n) with the household and nonprofit organization sector’s (table B.101) in the core Financial Accounts.

(9) Syndicated loans included in household and nonprofit organizations’ other loans and advances (table B.101, line 20) but assumed to be held by domestic hedge funds.
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B.101.n Balance Sheet of Nonprofit Organizations (1)

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

2012 2013 2014 2015 2016 2017 2018 2019 2020

 

 1 FL162000005 Total assets 6132.4 6873.4 7291.1 7564.0 8065.3 8841.9 8849.0 9485.9 10031.5 1

 2 FL162010005 Nonfinancial assets 2545.1 2876.7 3085.6 3335.7 3532.0 3793.2 3912.6 4227.7 4456.5 2

 3 FL165035005 Real estate (2) 2084.2 2385.2 2569.1 2794.4 2963.2 3198.5 3287.2 3574.3 3764.8 3

 4 FL165015205 Equipment (3) 326.9 346.1 364.1 383.8 401.9 418.0 438.5 459.3 485.6 4

 5 FL165013765 Intellectual property products (3) 134.0 145.4 152.4 157.5 166.8 176.7 186.8 194.2 206.1 5

 6 FL164090005 Financial assets 3587.3 3996.7 4205.5 4228.3 4533.3 5048.7 4936.5 5258.2 5575.0 6

 7 FL163020005 Cash and non-interest-bearing deposits 111.0 121.8 134.9 146.4 157.9 168.7 166.3 170.7 173.8 7

 8 FL163030205 Other deposits and short-term investments (4) 254.8 257.5 257.5 251.0 253.0 276.8 276.0 273.6 261.3 8

 9 FL163034003 Money market fund shares 55.1 58.5 69.2 74.6 85.8 87.0 96.7 114.1 140.9 9

10 LM164022005 Debt securities 268.6 254.6 282.2 282.4 295.5 320.9 314.6 329.7 342.0 10

11 LM163061005 U.S. government and municipal securities (5) 92.9 86.2 110.9 109.0 107.6 120.3 118.8 123.1 127.5 11

12 LM163063005 Corporate and foreign bonds 175.7 168.5 171.3 173.3 188.0 200.5 195.8 206.6 214.5 12

13 FL164023005 Loans 183.1 185.8 179.9 183.1 178.6 179.5 170.8 166.5 162.8 13

14 FL163065013 Mortgages 1.1 0.8 1.1 0.8 1.2 0.8 1.1 1.2 1.2 14

15 FL163066223 Consumer credit 58.0 51.8 47.6 44.9 41.3 35.2 31.3 27.3 24.1 15

16 FL163069005 Other loans and advances 124.0 133.2 131.2 137.4 136.1 143.5 138.4 138.1 137.5 16

17 LM163064005 Corporate equities and mutual fund shares 1230.5 1494.7 1552.6 1513.8 1663.3 1910.4 1849.3 2073.8 2276.2 17

18 FL163070005 Grants and trade receivables 207.6 213.2 240.7 241.0 244.2 260.2 263.7 271.3 279.0 18

19 FL163090005 Miscellaneous assets 1276.7 1410.5 1488.3 1536.1 1654.9 1845.1 1799.0 1858.5 1939.0 19

20 FL163072003 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35.5 20

21 FL163093005 Other (6) 1276.7 1410.5 1488.3 1536.1 1654.9 1845.1 1799.0 1858.5 1903.5 21

22 FL164190005 Liabilities 1589.3 1609.6 1723.3 1808.6 1833.3 1926.1 1912.4 1940.5 1965.5 22

23 FL163162003 Debt securities (municipal securities) 248.3 234.7 228.2 220.0 217.0 218.4 216.0 212.8 202.8 23

24 FL164123005 Loans 269.3 276.2 291.7 302.2 320.8 332.8 324.8 327.9 328.7 24

25 FL163165505 Commercial mortgages 212.8 221.7 228.3 238.8 252.9 259.4 256.1 259.0 260.4 25

26 FL163168005 Depository institution loans n.e.c. 56.6 54.6 63.3 63.4 67.9 73.4 68.7 68.9 68.3 26

27 FL163169005 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FL163170005 Trade payables 301.0 295.4 322.1 341.3 349.5 355.9 362.6 369.5 376.3 28

29 FL163193005 Miscellaneous liabilities (7) 770.7 803.2 881.4 945.1 946.1 1018.9 1008.9 1030.4 1057.7 29

30 FL162090005 Net worth 4543.1 5263.9 5567.8 5755.5 6231.9 6915.9 6936.7 7545.3 8066.0 30

 Memo:

31 FL164090015 Total financial assets of private foundations 658.1 743.1 784.9 786.2 840.7 948.0 995.3 1105.2 1214.6 31

32 FL164090025 Total financial assets of 501(c) organizations 2929.2 3253.6 3420.6 3442.1 3692.5 4100.8 3941.1 4153.0 4324.9 32

(1) Includes private foundations, including charitable trusts, and organizations that are tax-exempt under Sections 501(c)(3) through 501(c)(9) of the Internal Revenue Code. Does not include religious

 organizations or organizations with less than $25,000 in gross annual receipts. Most financial asset and liability information from annual tax data available with a lag; recent values estimated

 by staff.

(2) Residential and nonresidential real estate at market value.

(3) At replacement (current) cost.

(4) Includes interest-bearing checking and savings accounts, deposits in transit, commercial paper, certificates of deposit, and U.S. Treasury bills or other governmental obligations that mature

 in one year or less.

(5) Excludes the short-term debt securities included in line 16.

(6) Includes pledges receivable, receivables from officers and disqualified persons, prepaid expenses and deferred charges, other investments, and other financial assets. Not included on table B.101.

(7) Not included on table B.101.
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146 Z.1, September 23, 2021

B.101.e Balance Sheet of Households and Nonprofit Organizations with Debt and Equity Holdings Detail

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL152000005 Assets 120345.3 133338.4 147817.4 127146.3 135072.5 139595.0 147817.4 153145.6 159341.9 1

 2 FL152010005 Nonfinancial assets 37932.8 39951.3 43375.3 40650.4 41330.4 42239.0 43375.3 44547.8 46192.5 2

 3 FL154090005 Financial assets 82412.5 93387.0 104442.1 86495.9 93742.1 97356.0 104442.1 108597.8 113149.4 3

 4 FL154000025 Deposits (1) 12345.2 13259.4 15792.7 13881.1 14943.4 15165.8 15792.7 16887.2 17088.9 4

 5 LM154022375 Debt securities at market value 9103.3 10115.0 10445.4 9682.1 9744.5 9842.2 10445.4 9939.9 9938.5 5

 6 LM154022005 Directly held 4424.1 4727.1 4492.7 4573.8 4316.5 4111.8 4492.7 3953.5 3772.1 6

 7 LM154022075 Indirectly held 4679.1 5387.9 5952.7 5108.3 5428.0 5730.4 5952.7 5986.5 6166.4 7

 8 LM544022053 Life insurance companies 433.6 469.9 492.1 432.5 455.0 475.1 492.1 488.0 491.3 8

 9 LM574022075 Private pension funds (2) 1425.1 1626.9 1842.2 1595.4 1696.0 1780.0 1842.2 1830.0 1889.8 9

10 LM344022025 Federal govt. retirement funds (2) 280.8 283.9 331.8 299.7 313.3 324.3 331.8 328.8 331.7 10

11 LM223064223 State and local govt. retirement funds (2) 54.8 63.4 70.0 58.3 63.0 66.5 70.0 70.2 72.3 11

12 LM654022055 Mutual funds 2484.8 2943.8 3216.6 2722.3 2900.6 3084.4 3216.6 3269.5 3381.3 12

13 FL154023005 Loans 1115.3 1148.0 1257.4 1303.3 1274.7 1235.5 1257.4 1268.5 1283.0 13

14 LM153064475 Equity shares at market value 26704.5 34132.5 40353.2 26527.3 32322.1 35216.6 40353.2 43449.1 46986.3 14

15 LM153064105 Directly held 16269.8 20989.3 25634.0 16420.9 20108.1 22198.6 25634.0 28038.6 30490.0 15

16 LM153064175 Indirectly held 10434.7 13143.2 14719.2 10106.3 12214.0 13018.0 14719.2 15410.6 16496.4 16

17 LM543064153 Life insurance companies 1243.1 1488.7 1633.1 1161.7 1380.3 1453.8 1633.1 1671.7 1769.6 17

18 LM573064175 Private pension funds (2) 3531.8 4419.0 4937.4 3415.2 4110.9 4379.1 4937.4 5168.2 5520.4 18

19 LM343064125 Federal govt. retirement funds (2) 277.9 355.3 402.8 265.2 328.9 351.2 402.8 432.7 470.4 19

20 LM223064213 State and local govt. retirement funds (2) 116.1 145.0 165.0 110.4 135.9 144.2 165.0 171.0 182.8 20

21 LM653064155 Mutual funds 5265.8 6735.2 7581.0 5153.9 6258.0 6689.7 7581.0 7966.9 8553.1 21

22 FL153099475 Other 33144.2 34732.0 36593.4 35102.2 35457.4 35895.8 36593.4 37053.1 37852.6 22

23 FL154190005 Liabilities 16000.2 16506.7 17129.8 16573.2 16581.1 16846.4 17129.8 17327.4 17674.4 23

24 FL152090005 Net worth 104345.0 116831.7 130687.6 110573.1 118491.4 122748.6 130687.6 135818.2 141667.5 24

 Memo:

 Debt securities (line 5) as a percent of

25 FL154022376 Total assets (line 1) 7.56 7.59 7.07 7.61 7.21 7.05 7.07 6.49 6.24 25

26 FL154022386 Financial assets (line 3) 11.05 10.83 10.00 11.19 10.40 10.11 10.00 9.15 8.78 26

 Equity shares (line 14) as a percent of

27 FL153064476 Total assets (line 1) 22.19 25.60 27.30 20.86 23.93 25.23 27.30 28.37 29.49 27

28 FL153064486 Financial assets (line 3) 32.40 36.55 38.64 30.67 34.48 36.17 38.64 40.01 41.53 28

(1) Includes foreign deposits, checkable deposits and currency, time and savings deposits, and money market fund shares.

(2) Defined contribution plans. Assets held by defined benefit pension funds are not considered assets of the household sector. Defined benefit pension entitlements are included in line 22.
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B.101.f Balance Sheet of Domestic Hedge Funds (1)

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL622000623 Assets 2263.8 2428.7 2411.0 2225.3 2373.5 2433.0 2411.0 2473.1 ND 1

 2 FL625035003 Nonfinancial assets (real estate) 81.6 92.2 95.3 87.5 87.3 87.9 95.3 106.9 ND 2

 3 FL624090005 Financial assets 2182.2 2336.6 2315.6 2137.8 2286.3 2345.1 2315.6 2366.2 ND 3

 4 FL623091003 Foreign currency 20.5 21.2 21.7 20.0 22.7 20.7 21.7 22.7 ND 4

 5 FL623039003 Deposits 40.4 39.3 36.4 44.3 38.1 36.3 36.4 37.4 ND 5

 6 FL623039013 Other cash and cash equivalents 87.6 104.3 91.5 104.8 93.8 85.1 91.5 96.2 ND 6

 7 FL623034003 Money market fund shares 80.2 86.1 80.4 96.4 91.5 83.5 80.4 81.4 ND 7

 8 FL622051003 Security repurchase agreements 92.6 87.4 72.0 93.4 93.6 99.6 72.0 77.2 ND 8

 9 LM624022005 Debt securities 715.6 730.5 619.1 716.8 720.2 739.3 619.1 595.6 ND 9

10 LM623061103 Treasury securities 213.0 234.8 150.2 212.9 189.8 196.7 150.2 137.8 ND 10

11 LM623061703 Agency- and GSE-backed securities 14.1 13.5 12.0 16.9 14.5 14.2 12.0 11.3 ND 11

12 LM623062003 Municipal securities 14.5 13.2 13.3 14.0 14.4 13.3 13.3 13.6 ND 12

13 LM623063003 Corporate and foreign bonds 474.0 469.1 443.6 473.0 501.5 515.0 443.6 432.9 ND 13

14 FL623069005 Loans 116.5 126.3 144.0 124.0 140.2 148.1 144.0 152.9 ND 14

15 FL623069503 Leveraged loans 72.4 85.3 100.7 85.1 92.6 100.9 100.7 107.4 ND 15

16 FL623069003 Other loans 44.1 40.9 43.2 38.9 47.6 47.2 43.2 45.6 ND 16

17 LM623064103 Corporate equities 767.8 929.3 1018.6 705.6 851.1 912.6 1018.6 1070.6 ND 17

18 LM623064203 Mutual fund shares 27.2 11.0 13.0 8.1 17.9 16.3 13.0 13.2 ND 18

19 FL623093005 Miscellaneous assets 233.7 201.2 218.9 224.5 217.0 203.6 218.9 219.0 ND 19

20 FL624190005 Liabilities 716.5 770.0 702.8 724.2 735.0 732.0 702.8 711.0 ND 20

21 FL622151005 Security repurchase agreements 69.3 85.2 71.9 100.0 83.9 95.2 71.9 63.3 ND 21

22 FL622151013 Domestic institutions 52.0 56.4 46.6 65.9 48.2 53.1 46.6 39.4 ND 22

23 FL622151063 Foreign institutions 17.3 28.8 25.3 34.1 35.8 42.1 25.3 24.0 ND 23

24 FL624123005 Loans 390.4 449.2 479.6 372.2 437.8 448.9 479.6 510.5 ND 24

25 FL624123035 Secured borrowing via prime brokerage 301.0 351.3 388.7 265.2 336.3 348.7 388.7 413.8 ND 25

26 FL623167003 From domestic institutions 261.1 306.7 344.4 233.5 296.8 304.1 344.4 351.8 ND 26

27 FL623169533 From foreign institutions 39.9 44.7 44.4 31.7 39.5 44.6 44.4 62.0 ND 27

28 FL624123015 Other secured borowing 82.7 87.2 83.2 95.8 93.2 92.8 83.2 89.5 ND 28

29 FL623168013 From domestic institutions 50.4 58.4 64.2 64.8 59.3 59.9 64.2 67.8 ND 29

30 FL623169513 From foreign institutions 32.3 28.7 19.0 31.0 33.9 32.9 19.0 21.8 ND 30

31 FL623168023 Unsecured borrowing 6.7 10.7 7.6 11.2 8.2 7.4 7.6 7.2 ND 31

32 FL623193005 Miscellaneous liabilities 256.7 235.5 151.4 251.9 213.3 187.9 151.4 137.1 ND 32

 Memo:

33 FL622000003 Total net assets 1547.3 1658.8 1708.2 1501.1 1638.5 1701.1 1708.2 1762.1 ND 33

34 FL623098003 Derivatives (2) 1229.7 1242.1 956.7 1073.0 1008.2 1133.1 956.7 1036.8 ND 34

(1) Data begin 2012:Q4. Includes only hedge funds domiciled in the United States as reported on SEC forms ADV and PF.

(2) Long exposure of derivatives.
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F.4.g Gross Fixed Investment (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA885019005 Gross fixed investment (by type) 4281.7 4492.6 4478.9 4545.6 4231.6 4476.1 4662.4 4813.1 4893.0 1

 2 FA885019065 Structures 1751.0 1826.9 1853.5 1922.3 1744.4 1833.0 1914.3 1980.2 1983.9 2

 3 FA885019025 Equipment 1314.7 1364.4 1261.3 1274.3 1156.4 1273.7 1340.9 1390.4 1416.0 3

 4 FA885013075 Intellectual Property Products 1175.5 1258.7 1318.9 1303.9 1285.6 1324.2 1362.0 1397.2 1447.8 4

 5 FA885013035 Software 461.3 490.3 518.4 514.3 508.9 518.3 532.1 552.5 574.1 5

 6 FA885013045 Research and development 624.4 675.8 713.1 697.4 688.8 721.8 744.3 758.0 783.5 6

 7 FA835013051 Entertainment, literary, and artistic originals 89.8 92.7 87.4 92.2 87.9 84.1 85.6 86.7 90.2 7

 8 FA105013893 Miscellaneous adjustments (2) 40.3 42.4 45.0 45.0 45.0 45.0 45.0 45.0 45.0 8

 9 FA885019005 Gross fixed investment (by sector) 4281.7 4492.6 4478.9 4545.6 4231.6 4476.1 4662.4 4813.1 4893.0 9

10 FA155019005 Households and nonprofit organizations 867.7 887.1 955.6 936.2 839.4 985.6 1061.3 1103.9 1095.1 10

11 FA105019085 Nonfinancial corporate business (3) 2015.3 2118.5 2012.3 2090.8 1950.6 1970.8 2037.0 2127.4 2203.0 11

12 FA115019085 Nonfinancial noncorporate business 416.2 435.7 434.9 440.8 401.7 438.9 458.2 473.1 479.3 12

13 FA315019001 Federal government 299.6 317.5 340.3 330.0 337.4 345.7 348.2 348.7 355.3 13

14 FA215019001 State and local governments 403.0 422.5 441.2 442.7 437.3 436.6 448.3 442.2 437.4 14

15 FA795013005 Domestic financial sectors (4) 279.8 311.4 294.6 305.1 265.2 298.5 309.4 317.8 322.8 15

16 FA715013005 Monetary authority 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 16

17 FA705013005 Private depository institutions 56.8 79.9 82.7 89.2 63.3 87.2 91.1 91.5 90.1 17

18 FA765013005 U.S.-chartered depository institutions 42.5 61.1 62.3 68.2 43.8 66.9 70.3 70.0 68.0 18

19 FA755013005 Foreign banking offices in U.S. 5.8 8.9 9.8 10.1 9.4 9.7 10.0 10.3 10.6 19

20 FA745013005 Banks in U.S.-affiliated areas 0.2 0.3 0.3 0.3 0.2 0.3 0.3 0.3 0.3 20

21 FA475013005 Credit unions 8.4 9.7 10.4 10.7 9.9 10.3 10.6 11.0 11.2 21

22 FA515013005 Property-casualty insurance companies 27.2 30.6 32.1 32.4 31.1 32.1 33.0 34.3 35.4 22

23 FA545013005 Life insurance companies 20.6 23.5 24.8 24.9 24.0 24.8 25.6 26.5 27.4 23

24 FA575013005 Private pension funds 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 24

25 FA225013005 State and local government employee retirement funds 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 25

26 FA405013005 Government-sponsored enterprises 0.9 0.8 0.4 0.4 0.4 0.4 0.4 0.4 0.5 26

27 FA675013025 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FA615013005 Finance companies 86.2 82.0 58.4 59.3 53.7 58.9 61.8 64.2 65.6 28

29 FA125013005 REITs (3) 13.3 12.2 12.2 13.5 11.8 11.8 11.8 12.1 12.3 29

30 FA665013005 Security brokers and dealers 34.5 40.0 40.9 42.2 39.5 40.5 41.4 42.9 44.1 30

31 FA735013005 Holding companies 39.1 41.3 41.7 42.0 40.2 41.7 42.9 44.6 46.0 31

 Memo:

32 FA125012063 REITs residential structures (3) 3.5 7.1 3.0 5.9 -0.7 2.8 3.8 1.9 11.2 32

33 FA155111003 Consumer durable goods (5) 1369.3 1413.4 1512.5 1389.4 1373.8 1640.5 1646.0 1831.9 1956.3 33

34 FA145020005 Inventories (6) 58.7 73.6 -59.6 -20.6 -289.9 15.0 57.3 -94.2 -176.1 34

(1) Private gross fixed investment is from BEA, NIPA table 5.2.5. Structures is from BEA, NIPA table 5.4.5. Equipment is from BEA, NIPA table 5.5.5. Intellectual Property Products

 is from BEA, NIPA table 5.6.5. Government gross fixed investment is from BEA, NIPA table 3.9.5.

(2) Calculated as the difference between gross fixed investment in BEA’s NIPA and gross fixed investment in BEA’s fixed assets accounts (FAA); the latter are used to to estimate

 stocks of fixed assets for balance sheets. For the minor definitional differences between the two estimates of gross fixed investment, see the

 BEA FAA web page https://apps.bea.gov/iTable/index_FA.cfm.

(3) Equity REIT gross investment in residential structures is included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the

 Financial Accounts, equity REIT investment in residential structures is included with the financial business sector.

(4) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(5) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, however, consumer durables are included in household

 sector fixed investment (table F.101, line 14).

(6) Inventories are not included above but are part of nonfinancial business gross investment (table F.4, lines 25 and 26).
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F.4.c Consumption of Fixed Capital

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA886300095 Consumption of fixed capital (by type) 3273.4 3435.6 3575.9 3522.3 3550.9 3591.0 3639.4 3696.0 3786.5 1

 2 FA886300065 Structures 1188.4 1242.3 1281.0 1263.1 1272.1 1286.3 1302.6 1323.2 1356.8 2

 3 FA886300025 Equipment 1086.5 1128.0 1158.0 1140.5 1150.0 1162.8 1178.7 1197.0 1226.3 3

 4 FA886330075 Intellectual Property Products 998.6 1065.2 1136.8 1118.6 1128.7 1141.8 1158.0 1175.6 1203.3 4

 5 FA886330035 Software 391.8 427.0 457.5 450.1 454.2 459.5 466.1 473.4 484.9 5

 6 FA886330045 Research and development 529.0 557.3 595.8 586.3 591.6 598.5 606.9 615.9 629.9 6

 7 FA836330053 Entertainment, literary, and artistic originals 77.8 80.8 83.5 82.2 82.9 83.8 85.0 86.3 88.5 7

 8 FA886300095 Consumption of fixed capital (by sector) 3273.4 3435.6 3575.9 3522.3 3550.9 3591.0 3639.4 3696.0 3786.5 8

 9 FA156300003 Households and nonprofit organizations 574.8 600.3 631.0 615.9 621.5 636.2 650.4 670.1 693.8 9

10 FA106300003 Nonfinancial corporate business (1) 1561.2 1644.8 1707.6 1688.0 1701.2 1711.6 1729.6 1748.4 1783.4 10

11 FA116300001 Nonfinancial noncorporate business 337.4 351.7 364.1 359.0 361.4 365.5 370.6 377.4 387.8 11

12 FA316300001 Federal government 284.9 293.3 303.5 298.2 301.6 305.1 309.2 312.7 317.0 12

13 FA216300001 State and local governments 280.5 293.7 302.8 299.6 300.3 304.5 306.9 312.0 320.5 13

14 FA796300081 Domestic financial sectors (2) 234.6 251.8 266.8 261.6 265.0 268.1 272.7 275.3 284.0 14

15 FA716330005 Monetary authority 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.9 15

16 FA706330005 Private depository institutions 43.1 50.2 58.3 57.1 57.8 58.6 59.7 60.5 62.6 16

17 FA766330005 U.S.-chartered depository institutions 32.3 38.7 44.2 43.3 43.8 44.4 45.2 45.9 47.6 17

18 FA756330005 Foreign banking offices in U.S. 4.3 5.4 6.8 6.6 6.7 6.8 6.9 7.0 7.2 18

19 FA746330005 Banks in U.S.-affiliated areas 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 19

20 FA476330005 Credit unions 6.3 5.9 7.2 7.0 7.1 7.2 7.3 7.4 7.6 20

21 FA516330005 Property-casualty insurance companies 24.6 26.4 28.5 27.9 28.3 28.6 29.1 29.3 30.2 21

22 FA546330005 Life insurance companies 18.5 19.9 21.6 21.1 21.4 21.7 22.0 22.2 22.9 22

23 FA576330005 Private pension funds 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 23

24 FA226330005 State and local government employee retirement funds 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 24

25 FA406330005 Government-sponsored enterprises 0.8 0.8 0.5 0.5 0.5 0.6 0.6 0.6 0.6 25

26 FA676330023 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 FA616330005 Finance companies 75.8 78.2 77.4 75.9 76.9 77.8 79.1 79.7 82.2 27

28 FA126330005 REITs (1) 6.9 7.3 7.6 7.5 7.6 7.7 7.8 7.9 8.1 28

29 FA666330005 Security brokers and dealers 24.4 26.7 29.2 28.6 29.0 29.3 29.8 30.1 31.0 29

30 FA736330005 Holding companies 39.0 40.8 42.3 41.4 42.0 42.5 43.2 43.5 44.9 30

 Memo:

31 FA156300103 Consumer durable goods (3) 1106.4 1154.5 1208.5 1190.5 1197.9 1200.1 1245.5 1221.9 1259.3 31

(1) Equity REIT residential structure consumption of fixed capital is included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the

 Financial Accounts, equity REIT residential structure consumption of fixed capital is included with the financial business sector.

(2) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(3) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household

 sector capital expenditures.
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150 Z.1, September 23, 2021

F.4.f Net Fixed Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA885015005 Net fixed investment (by type) 1008.2 1057.0 903.0 1023.3 680.7 885.0 1023.0 1117.1 1106.4 1

 2 FA885019665 Structures 562.6 584.6 572.5 659.2 472.4 546.7 611.7 657.0 627.2 2

 3 FA885019265 Equipment 228.2 236.5 103.3 133.7 6.5 110.9 162.3 193.4 189.8 3

 4 FA885013765 Intellectual Property Products 176.9 193.6 182.2 185.3 156.9 182.4 204.0 221.6 244.5 4

 5 FA885013365 Software 69.5 63.3 60.9 64.2 54.7 58.8 66.0 79.2 89.2 5

 6 FA885013465 Research and development 95.5 118.4 117.3 111.2 97.2 123.3 137.4 142.1 153.6 6

 7 FA835013565 Entertainment, literary, and artistic originals 12.0 11.8 4.0 10.0 5.0 0.3 0.7 0.3 1.7 7

 8 FA105013893 Miscellaneous adjustments (1) 40.3 42.4 45.0 45.0 45.0 45.0 45.0 45.0 45.0 8

 9 FA885015005 Net fixed investment (by sector) 1008.2 1057.0 903.0 1023.3 680.7 885.0 1023.0 1117.1 1106.4 9

10 FA155015005 Households and nonprofit organizations 292.9 286.8 324.6 320.4 218.0 349.4 410.8 433.8 401.3 10

11 FA105015085 Nonfinancial corporate business (2) 454.2 473.7 304.7 402.8 249.4 259.1 307.4 379.0 419.5 11

12 FA115015005 Nonfinancial noncorporate business 78.8 83.9 70.8 81.7 40.4 73.4 87.6 95.7 91.6 12

13 FA315015005 Federal government 14.7 24.2 36.8 31.8 35.8 40.6 39.0 35.9 38.3 13

14 FA215015005 State and local governments 122.6 128.8 138.4 143.1 137.0 132.1 141.4 130.2 116.9 14

15 FA795015085 Domestic financial sectors (3) 45.2 59.6 27.7 43.5 0.2 30.4 36.8 42.5 38.8 15

16 FA715013865 Monetary authority -0.2 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

17 FA705013865 Private depository institutions 13.7 29.7 24.4 32.0 5.5 28.6 31.5 31.1 27.6 17

18 FA765013865 U.S.-chartered depository institutions 10.2 22.4 18.1 24.9 -0.0 22.6 25.1 24.0 20.4 18

19 FA755013865 Foreign banking offices in U.S. 1.4 3.4 3.0 3.4 2.6 2.9 3.1 3.4 3.4 19

20 FA745013865 Banks in U.S.-affiliated areas 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 20

21 FA475013865 Credit unions 2.1 3.7 3.2 3.6 2.8 3.1 3.2 3.6 3.6 21

22 FA515013865 Property-casualty insurance companies 2.6 4.2 3.7 4.4 2.8 3.5 4.0 5.0 5.2 22

23 FA545013865 Life insurance companies 2.1 3.6 3.2 3.8 2.6 3.1 3.5 4.3 4.5 23

24 FA575013865 Private pension funds -0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 24

25 FA225013865 State and local government employee retirement funds -0.2 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 25

26 FA405013865 Government-sponsored enterprises 0.1 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 26

27 FA675013263 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FA615013865 Finance companies 10.4 3.8 -19.0 -16.6 -23.2 -18.9 -17.2 -15.5 -16.6 28

29 FA125013865 REITs (2) 6.4 4.8 4.6 6.1 4.2 4.1 4.0 4.3 4.2 29

30 FA665013865 Security brokers and dealers 10.1 13.2 11.7 13.6 10.4 11.1 11.6 12.8 13.1 30

31 FA735013865 Holding companies 0.1 0.5 -0.6 0.6 -1.7 -0.8 -0.2 1.0 1.2 31

 Memo:

32 FA125012665 REITs residential structures (2) 0.3 3.9 -0.3 3.1 -4.1 -0.9 0.6 -1.1 8.1 32

33 FA155111005 Consumer durable goods (4) 262.9 258.9 304.0 198.9 175.9 440.5 400.6 610.0 697.0 33

(1) Included in nonfinancial corporate business sector gross fixed investment, line 11.

(2) Equity REIT net investment in residential structures is included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the

 Financial Accounts, equity REIT investment in residential structures is included with the financial business sector.

(3) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(4) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household sector

 capital expenditures.
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L.4.s Net Stocks of Fixed Assets, current cost

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

2018 2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL885019865 Net stocks (by type) 62891.4 65354.2 68069.7 65995.0 66268.0 67271.1 68069.7 69544.7 71427.2 1

 2 FL885019665 Structures 50275.7 52219.3 54388.6 52703.9 52834.3 53728.6 54388.6 55682.4 57447.7 2

 3 FL885019265 Equipment 8068.7 8340.0 8534.9 8419.7 8458.2 8494.4 8534.9 8658.9 8690.3 3

 4 FL885013765 Intellectual Property Products 4547.0 4794.9 5146.2 4871.4 4975.5 5048.0 5146.2 5203.4 5289.2 4

 5 FL885013365 Software 835.3 893.2 949.9 905.0 919.4 931.2 949.9 952.3 975.9 5

 6 FL885013465 Research and development 3180.0 3348.9 3636.2 3408.4 3489.4 3559.3 3636.2 3684.6 3740.4 6

 7 FL835013565 Entertainment, literary, and artistic originals 531.7 552.8 560.1 558.0 566.7 557.5 560.1 566.4 572.9 7

 8 FL885019865 Net stocks (by sector) 62891.4 65354.2 68069.7 65995.0 66268.0 67271.1 68069.7 69544.7 71427.2 8

 9 FL155015015 Households and nonprofit organizations 20735.3 21546.9 23001.8 21810.1 21965.8 22534.3 23001.8 23741.2 24647.3 9

10 FL105015085 Nonfinancial corporate business (1) 17792.7 18590.5 19002.9 18760.5 18831.4 18916.5 19002.9 19219.7 19506.3 10

11 FL115015005 Nonfinancial noncorporate business 7248.1 7482.9 7747.8 7538.1 7554.2 7661.8 7747.8 7938.5 8178.9 11

12 FL315015005 Federal government 3521.3 3603.7 3734.0 3629.3 3652.7 3694.0 3734.0 3784.9 3857.9 12

13 FL215015005 State and local governments 11569.6 12005.7 12412.8 12113.1 12113.4 12304.2 12412.8 12669.1 13013.6 13

14 FL795013865 Domestic financial sectors (2) 2024.4 2124.5 2170.4 2144.0 2150.5 2160.3 2170.4 2191.3 2223.2 14

15 FL715013865 Monetary authority 10.6 10.7 10.8 10.8 10.8 10.8 10.8 10.8 11.0 15

16 FL705013865 Private depository institutions 448.9 488.2 516.5 497.3 502.8 509.6 516.5 526.1 539.7 16

17 FL765013865 U.S.-chartered depository institutions 327.0 367.2 382.1 372.4 375.0 378.5 382.1 389.2 399.3 17

18 FL755013865 Foreign banking offices in U.S. 48.9 57.1 64.4 59.2 60.8 62.6 64.4 65.7 67.4 18

19 FL745013865 Banks in U.S.-affiliated areas 1.7 1.7 1.7 1.7 1.7 1.7 1.7 1.7 1.7 19

20 FL475013865 Credit unions 71.4 62.2 68.2 64.0 65.3 66.7 68.2 69.5 71.3 20

21 FL515013865 Property-casualty insurance companies 158.6 165.9 170.7 167.6 168.4 169.5 170.7 172.4 175.7 21

22 FL545013865 Life insurance companies 130.5 136.9 141.7 138.4 139.3 140.5 141.7 143.2 146.1 22

23 FL575013865 Private pension funds 3.2 2.4 2.1 2.3 2.2 2.2 2.1 2.1 2.1 23

24 FL225013865 State and local government employee retirement funds 5.4 6.3 6.4 6.3 6.4 6.4 6.4 6.5 6.6 24

25 FL405013865 Government-sponsored enterprises 5.3 5.0 3.5 4.6 4.2 3.9 3.5 3.4 3.5 25

26 FL675013263 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 FL615013865 Finance companies 491.7 500.1 487.5 499.2 495.6 491.5 487.5 486.3 480.7 27

28 FL125013865 REITs (1) 170.7 182.0 188.2 184.4 185.4 186.9 188.2 191.0 195.6 28

29 FL665013865 Security brokers and dealers 198.6 215.5 229.3 219.9 222.7 225.9 229.3 233.5 239.8 29

30 FL735013865 Holding companies 400.8 411.5 413.8 413.2 412.8 413.2 413.8 416.0 422.4 30

 Memo:

31 FL125012665 REITs residential structures (1) 200.9 203.9 203.4 205.4 206.3 205.2 203.4 202.4 202.6 31

32 FL155111005 Consumer durable goods (3) 5512.7 5730.5 6081.0 5758.7 5760.7 5977.8 6081.0 6267.1 6688.2 32

33 FL145020005 Inventories (4) 2832.6 2901.3 2910.8 2843.0 2777.5 2831.2 2910.8 3040.9 3162.7 33

(1) Equity REIT residential structures are included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the Financial Accounts, equity REIT

 residential structures are included with the financial business sector.

(2) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(3) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household sector fixed investment

 (table B.101, line 8).

(4) Not included above.
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152 Z.1, September 23, 2021

S.1.a Total Economy - Current Account

Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

 1 FA896902505 Gross value added 16958.0 17807.9 18440.5 18788.5 19598.5 20652.6 21442.2 21064.3 1

 (income approach)

 2 FA886300091 Less: Consumption of fixed capital 2681.2 2815.0 2911.4 2987.1 3118.2 3273.4 3435.6 3575.9 2

 3 FA896902601 Equals: Net value added 14276.8 14992.8 15529.1 15801.5 16480.4 17379.2 18006.6 17488.4 3

 4 FA896025001 Compensation of employees (paid) 8843.6 9259.7 9709.5 9977.1 10436.7 10969.8 11459.4 11580.1 4

 5 FA896020001 Wages and salaries 7122.6 7485.8 7869.6 8102.2 8485.3 8910.8 9335.3 9452.0 5

 6 FA896401001 Employers’ social contributions 1721.0 1773.9 1839.9 1874.9 1951.5 2059.0 2124.2 2128.0 6

 7 FA896240101 Taxes on production and imports less subsidies 1128.9 1182.7 1218.0 1249.9 1306.4 1398.4 1459.4 773.3 7

 8 FA896402101 Operating surplus, net 4304.2 4550.4 4601.6 4574.5 4737.2 5011.0 5087.8 5135.0 8

 9 FA266904095 Plus: Income receipts from the rest of the world 847.2 881.6 860.8 893.5 1032.7 1142.1 1160.3 992.9 9

10 FA266904195 Less: Income payments to the rest of the world 616.9 646.4 640.4 661.5 738.2 847.9 893.9 770.6 10

11 FA896140001 Equals: Net national income/Balance of primary incomes, net 14507.1 15228.1 15749.5 16033.4 16774.9 17673.3 18273.1 17710.7 11

12 FA896402101 Operating surplus, net 4304.2 4550.4 4601.6 4574.5 4737.2 5011.0 5087.8 5135.0 12

13 FA156025105 Compensation of employees (received) 8835.0 9250.2 9699.4 9966.1 10426.1 10959.5 11447.7 11572.2 13

14 FA156020101 Wages and salaries 7114.0 7476.3 7859.5 8091.2 8474.7 8900.5 9323.5 9444.1 14

15 FA156401101 Employers’ social contributions 1721.0 1773.9 1839.9 1874.9 1951.5 2059.0 2124.2 2128.0 15

16 FA896240001 Taxes on production and imports, receivable 1188.7 1240.8 1275.2 1311.6 1366.3 1461.7 1532.3 1534.7 16

17 FA366402015 Subsidies paid -59.7 -58.1 -57.2 -61.7 -59.9 -63.3 -73.0 -761.4 17

18 FA896150105 Property income (received) 6546.4 6799.2 6964.5 7077.5 7601.7 8426.3 8564.0 8042.3 18

19 FA896130101 Interest 3105.2 3186.1 3307.1 3422.8 3660.9 3967.0 4264.0 3916.7 19

20 FA896120105 Distributed income of corporations 3071.1 3252.2 3321.5 3326.4 3540.2 4701.4 4107.6 3878.2 20

21 FA896121101 Dividends 1523.9 1649.3 1753.4 1759.3 1890.5 2965.6 2355.3 2082.2 21

22 FA156122101 Withdrawals from income of quasi-corporations 1547.2 1602.9 1568.2 1567.1 1649.7 1735.8 1752.3 1796.0 22

23 FA893092201 Reinvested earnings on U.S. direct investment abroad 348.2 337.9 318.0 312.7 383.7 -260.7 171.9 228.7 23

24 FA896112101 Rents on land and natural resources 21.9 22.9 17.9 15.6 17.0 18.7 20.4 18.8 24

25 FA896150005 Less: Uses of property income (paid) 6307.5 6554.5 6734.0 6834.6 7296.6 8121.9 8285.9 7812.0 25

26 FA896130001 Interest 3265.2 3346.3 3471.8 3599.7 3854.7 4184.2 4499.3 4141.1 26

27 FA896120005 Distributed income of corporations 2932.7 3090.6 3158.8 3140.7 3329.8 3800.4 3641.3 3569.4 27

28 FA896121001 Dividends 1385.5 1487.7 1590.6 1573.6 1680.2 2064.6 1889.0 1773.4 28

29 FA896122001 Withdrawals from income of quasi-corporations 1547.2 1602.9 1568.2 1567.1 1649.7 1735.8 1752.3 1796.0 29

30 FA893192201 Reinvested earnings on foreign direct investment 87.8 94.6 85.6 78.5 95.1 118.5 124.9 82.7 30

31 FA896112001 Rents on land and natural resources 21.9 22.9 17.9 15.6 17.0 18.7 20.4 18.8 31

32 FA896140001 Net national income/Balance of primary incomes, net 14507.1 15228.1 15749.5 16033.4 16774.9 17673.3 18273.1 17710.7 32

33 FA896220001 Plus: Current taxes on income, wealth, etc. (received) 2046.8 2201.1 2347.5 2347.5 2373.9 2371.3 2522.3 2486.7 33

34 FA896220005 Less: Current taxes on income, wealth, etc. (paid) 2039.0 2191.6 2336.2 2334.4 2361.3 2357.8 2507.3 2471.2 34

35 FA896404105 Plus: Social benefits (received) 3495.4 3657.4 3845.2 3961.6 4111.6 4292.0 4509.8 5645.8 35

36 FA896404005 Less: Social contributions (paid) 3509.1 3671.7 3860.3 3977.1 4128.2 4309.4 4528.5 5673.8 36

37 FA896403105 Plus: Other current transfers (received) 668.6 746.6 801.9 829.6 826.2 861.9 888.1 1156.3 37

38 FA896403005 Less: Other current transfers (paid) 765.6 843.2 916.9 956.7 949.7 996.3 1034.2 1302.0 38

39 FA896012005 Equals: Disposable income, net 14404.1 15126.7 15630.6 15904.0 16647.4 17535.1 18123.1 17552.5 39

40 FA896901001 Less: Final consumption expenditures 13896.2 14414.0 14872.5 15356.4 15969.8 16782.9 17402.6 17125.6 40

41 FA896006001 Equals: Net saving 508.0 712.7 758.2 547.7 677.6 752.1 720.5 426.9 41

 Addendum:

42 FA896902505 Gross value added (line 1) 16958.0 17807.9 18440.5 18788.5 19598.5 20652.6 21442.2 21064.3 42

43 FA087005995 Plus statistical discrepancy (NIPA) -114.8 -257.2 -234.5 -93.4 -118.9 -125.5 -69.7 -170.6 43

44 FA086902005 Equals: GDP (NIPA, expenditure approach) 16843.2 17550.7 18206.0 18695.1 19479.6 20527.2 21372.6 20893.7 44

45 FA086902203 Average of GDP and GDI 16900.6 17679.3 18323.3 18741.8 19539.1 20589.9 21407.4 20979.0 45

46 FA087005086 Statistical discrepancy as a percentage of GDP -0.68 -1.47 -1.29 -0.50 -0.61 -0.61 -0.33 -0.82 46
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

 1 FA896902505 Gross value added 16958.0 17807.9 18440.5 18788.5 19598.5 20652.6 21442.2 21064.3 1

 2 FA156902505 Households and nonprofit institutions serving households 2114.2 2182.9 2260.2 2344.1 2436.0 2551.4 2669.0 2755.5 2

 3 FA116902505 Nonfinancial noncorporate business 3070.0 3234.3 3296.0 3315.3 3488.8 3682.0 3789.6 3552.4 3

 4 FA106902501 Nonfinancial corporate business 8378.0 8785.5 9128.5 9238.2 9664.1 10179.9 10604.0 10168.8 4

 5 FA796902505 Financial business 1158.7 1308.7 1391.9 1480.9 1537.2 1666.2 1730.2 1872.1 5

 6 FA316902505 Federal government 711.0 723.1 737.3 749.0 768.1 795.7 817.9 855.1 6

 7 FA216902505 State and local government 1526.1 1573.5 1626.7 1661.1 1704.3 1777.4 1831.6 1860.5 7

 8 FA896006001 Net saving 508.0 712.7 758.2 547.7 677.6 752.1 720.5 426.9 8

 9 FA156006005 Households and nonprofit institutions serving households 766.0 930.9 1034.9 987.8 1076.4 1190.9 1237.8 2887.5 9

10 FA106012095 Nonfinancial corporate business 641.9 589.1 529.1 441.8 514.0 584.8 487.5 457.8 10

11 FA796012095 Financial business -2.9 28.0 -29.8 30.3 38.5 100.2 191.7 115.4 11

12 FA316006085 Federal government -631.8 -597.4 -560.2 -667.6 -720.7 -928.1 -1047.5 -3110.0 12

13 FA216006095 State and local government -265.3 -237.9 -215.8 -244.7 -230.6 -195.8 -149.0 76.1 13

 Net capital transfers

14 FA155440005 Households and nonprofit institutions serving households 20.0 9.3 21.5 14.7 -15.0 9.6 15.4 2.5 14

15 FA115440005 Nonfinancial noncorporate business -0.0 0.0 0.0 0.0 -9.4 -3.0 0.0 0.0 15

16 FA105440005 Nonfinancial corporate business -5.7 -6.7 -3.2 2.6 191.5 -6.2 -12.4 13.6 16

17 FA795440005 Financial business 0.0 10.0 0.0 1.8 102.7 16.9 0.0 0.0 17

18 FA315440005 Federal government 64.3 64.9 59.9 60.5 -181.9 59.6 77.8 72.6 18

19 FA215440005 State and local government -71.6 -70.6 -69.8 -72.6 -72.0 -72.2 -73.9 -82.7 19

20 FA265440005 Rest of the world -7.0 -6.9 -8.4 -7.0 -16.0 -4.6 -6.8 -6.1 20

21 FA885019005 Gross fixed capital formation 3321.9 3562.8 3723.0 3808.7 4020.3 4281.7 4492.6 4478.9 21

22 FA155019005 Households and nonprofit institutions serving households 592.0 633.6 706.6 768.1 825.3 867.7 887.1 955.6 22

23 FA115019085 Nonfinancial noncorporate business 320.0 354.1 362.8 375.2 399.3 416.2 435.7 434.9 23

24 FA105019085 Nonfinancial corporate business 1606.5 1753.8 1789.5 1766.2 1867.9 2015.3 2118.5 2012.3 24

25 FA795013005 Financial business (nonresidential) 203.0 218.7 241.5 259.3 259.4 279.8 311.4 294.6 25

26 FA315019001 Federal government 269.6 263.8 266.6 268.8 280.0 299.6 317.5 340.3 26

27 FA215019001 State and local government 330.8 338.8 356.0 371.1 388.3 403.0 422.5 441.2 27

28 FA886300095 Consumption of fixed capital 2681.2 2815.0 2911.4 2987.1 3118.2 3273.4 3435.6 3575.9 28

29 FA156300003 Households and nonprofit institutions serving households 437.8 467.3 485.4 509.0 538.4 574.8 600.3 631.0 29

30 FA116300001 Nonfinancial noncorporate business 277.2 291.6 302.2 310.0 322.5 337.4 351.7 364.1 30

31 FA106300003 Nonfinancial corporate business 1279.7 1349.2 1401.7 1430.2 1492.8 1561.2 1644.8 1707.6 31

32 FA796300081 Financial business (nonresidential) 181.8 190.3 199.2 210.7 222.4 234.6 251.8 266.8 32

33 FA316300001 Federal government 265.9 270.2 271.5 270.7 275.9 284.9 293.3 303.5 33

34 FA216300001 State and local government 238.8 246.3 251.4 256.4 266.2 280.5 293.7 302.8 34

35 FA145020005 Change in inventories 104.5 84.0 136.8 36.3 29.5 58.7 73.6 -59.6 35

36 FA115020005 Nonfinancial noncorporate business 21.4 9.6 19.9 1.7 1.2 3.7 0.3 -11.2 36

37 FA105020005 Nonfinancial corporate business 83.1 74.3 116.9 34.6 28.3 55.0 73.3 -48.3 37

38 FA885000985 Net lending (+) or net borrowing (-) (capital account) -244.2 -125.9 -198.5 -317.3 -270.0 -319.5 -417.0 -422.4 38

39 FA155000905 Households and nonprofit institutions serving households 601.0 764.9 802.6 725.3 816.7 902.0 949.7 2574.7 39

40 FA115000905 Nonfinancial noncorporate business -64.2 -72.1 -80.5 -66.9 -68.7 -79.5 -84.3 -59.5 40

41 FA105000905 Nonfinancial corporate business 236.4 115.3 -1.8 61.4 -81.0 83.5 -46.9 188.1 41

42 FA795000995 Financial business -24.0 -10.4 -72.0 -20.1 -101.3 38.2 132.0 87.7 42

43 FA315000995 Federal government -697.3 -653.2 -584.4 -717.3 -540.7 -1001.5 -1146.9 -3216.5 43

44 FA215000995 State and local government -296.0 -270.3 -262.4 -299.7 -295.0 -262.2 -220.7 3.1 44

 Addendum:

45 FA087005995 Statistical discrepancy (NIPA) -114.8 -257.2 -234.5 -93.4 -118.9 -125.5 -69.7 -170.6 45

46 FA265000905 Rest of the world 359.0 383.0 433.0 410.7 388.9 445.0 486.7 593.0 46

47 FA885000005 Net lending (+) or net borrowing (-) (financial account) 141.4 -204.4 391.1 -374.6 583.5 15.5 635.4 -579.9 47

48 FA155000005 Households and nonprofit institutions serving households 684.2 1143.8 1127.3 352.7 797.9 1062.4 1576.3 2617.3 48

49 FA115000005 Nonfinancial noncorporate business -64.2 -72.1 -80.5 -66.9 -68.7 -79.5 -84.3 -59.5 49

50 FA105000005 Nonfinancial corporate business 114.6 -319.9 -95.1 148.8 240.7 18.9 435.7 47.4 50

51 FA795000005 Financial business 158.2 -4.7 107.4 14.7 259.1 151.6 80.9 72.3 51

52 FA315000005 Federal government -508.4 -732.8 -518.8 -677.0 -479.8 -975.1 -1112.4 -3245.8 52

53 FA215000005 State and local government -243.0 -218.6 -149.3 -146.9 -165.7 -162.8 -260.9 -11.7 53

 Addendum:

54 FA265000005 Rest of the world 342.6 240.6 331.7 404.6 342.5 239.2 296.9 486.2 54

 Total other volume changes

55 FV158090185 Households and nonprofit institutions serving households 1348.0 823.5 552.6 45.0 280.4 458.9 1444.6 606.3 55

56 FV118090105 Nonfinancial noncorporate business -0.0 0.0 0.0 -0.0 0.0 -0.0 -0.0 0.0 56

57 FV108090105 Nonfinancial corporate business -166.5 -451.9 -201.7 -90.1 319.9 369.4 517.4 -164.7 57

58 FV798090185 Financial business 119.3 -180.0 222.9 208.9 -51.3 226.9 -418.9 116.5 58

59 FV318090185 Federal government 180.6 -51.4 122.5 64.9 -139.9 22.7 185.4 21.1 59

60 FV218090185 State and local government -710.4 -62.6 5.9 76.8 69.1 24.6 11.7 -50.0 60

61 FV268090185 Rest of the world 49.0 -203.9 -91.1 -81.6 -61.9 171.4 -89.6 -116.1 61

 Holding gains/losses

62 FR158200095 Households and nonprofit institutions serving households 6616.2 4257.6 1459.2 4086.7 7357.9 -768.6 9819.6 10364.6 62

63 FR118200005 Nonfinancial noncorporate business -0.0 0.0 -0.0 0.0 -9.4 -3.0 0.0 -0.0 63

64 FR108200005 Nonfinancial corporate business -4474.8 -2170.9 1229.2 -1611.5 -4018.2 2290.6 -7443.4 -8341.3 64

65 FR798200005 Financial business -1674.5 -10.0 -322.3 -701.7 -551.8 168.0 -363.3 494.7 65

66 FR318200005 Federal government 74.2 48.5 6.0 55.5 88.5 105.6 57.9 94.8 66

67 FR218200005 State and local government 792.1 334.5 -24.3 383.5 842.4 240.9 947.7 749.2 67

68 FR265000005 Rest of the world 361.0 1415.1 128.2 415.0 -814.8 1264.7 1072.5 2224.7 68
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

 Change in net worth

69 FC152090005 Households and nonprofit institutions serving households 8710.2 6002.7 3025.1 5104.9 8729.7 871.6 12486.6 13855.9 69

70 FC112090095 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 70

71 FC102090095 Nonfinancial corporate business -3993.7 -2027.0 1559.9 -1262.4 -3375.8 3250.9 -6426.0 -8061.8 71

72 FC792090095 Financial business -1558.1 -172.0 -129.1 -464.3 -667.3 478.2 -590.6 726.6 72

73 FC312090095 Federal government -441.2 -665.2 -491.7 -607.8 -590.2 -859.3 -881.9 -3066.8 73

74 FC212090095 State and local government -112.0 104.6 -164.4 288.2 752.8 142.0 884.3 858.1 74

75 FC262090095 Rest of the world 769.0 1594.2 470.1 744.1 -487.8 1881.1 1469.6 2701.5 75

 Net worth

76 FL152090005 Households and nonprofit institutions serving households 80611.0 86613.7 89638.8 94743.7 103473.4 104345.0 116831.7 130687.6 76

77 FL112090095 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 77

78 FL102090095 Nonfinancial corporate business -8498.1 -10525.2 -8965.3 -10227.7 -13603.5 -10352.6 -16778.7 -24840.5 78

79 FL792090095 Financial business -414.8 -586.9 -716.0 -1180.2 -1847.6 -1369.3 -1959.9 -1233.3 79

80 FL312090095 Federal government -10992.7 -11657.9 -12149.6 -12757.3 -13347.5 -14206.8 -15088.8 -18155.5 80

81 FL212090095 State and local government 5133.2 5237.8 5073.4 5361.6 6114.4 6256.5 7140.8 7998.9 81

82 FL262090095 Rest of the world 5084.5 6678.7 7148.8 7892.9 7405.1 9286.1 10755.7 13457.3 82
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S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

 Current account

 1 FA156902505 Gross value added 2114.2 2182.9 2260.2 2344.1 2436.0 2551.4 2669.0 2755.5 1

 2 FA156300003 Less: Consumption of fixed capital 437.8 467.3 485.4 509.0 538.4 574.8 600.3 631.0 2

 3 FA156902605 Equals: Net value added 1676.4 1715.6 1774.8 1835.1 1897.6 1976.6 2068.7 2124.5 3

 4 FA156025005 Compensation paid by households and NPISHs 780.0 812.2 852.7 888.5 919.4 966.1 1012.3 1040.8 4

 5 FA156020001 Wages and salaries 641.7 669.4 704.9 730.6 760.9 797.8 836.5 859.0 5

 6 FA156401001 Employers’ social contributions 138.3 142.8 147.8 157.8 158.6 168.3 175.8 181.7 6

 7 FA156240101 Taxes on production and imports less subsidies 162.1 168.9 174.4 181.3 188.4 197.0 212.9 217.5 7

 8 FA156402101 Operating surplus, net 734.4 734.5 747.6 765.3 789.8 813.5 843.5 866.2 8

 9 FA156140005 Net national income/Balance of primary incomes, net 12657.8 13354.0 13947.8 14288.5 15002.5 15766.0 16366.1 16557.1 9

10 FA156402101 Operating surplus, net 734.4 734.5 747.6 765.3 789.8 813.5 843.5 866.2 10

11 FA156025105 Compensation of employees (received) 8835.0 9250.2 9699.4 9966.1 10426.1 10959.5 11447.7 11572.2 11

12 FA156020101 Wages and salaries 7114.0 7476.3 7859.5 8091.2 8474.7 8900.5 9323.5 9444.1 12

13 FA156401101 Employers’ social contributions 1721.0 1773.9 1839.9 1874.9 1951.5 2059.0 2124.2 2128.0 13

14 FA156150105 Property income (received) 3607.5 3894.4 4044.5 4111.2 4359.0 4605.5 4721.8 4709.7 14

15 FA156130101 Interest 1267.0 1338.3 1443.3 1466.7 1554.8 1616.4 1653.5 1616.0 15

16 FA156120105 Distributed income of corporations 2340.5 2556.1 2601.2 2644.6 2804.2 2989.1 3068.3 3093.8 16

17 FA156121101 Dividends 793.3 953.2 1033.1 1077.4 1154.5 1253.3 1316.0 1297.8 17

18 FA156122101 Withdrawals from income of quasi-corporations (1) 1547.2 1602.9 1568.2 1567.1 1649.7 1735.8 1752.3 1796.0 18

19 FA156130001 Less: Uses of property income (interest paid) 519.2 525.2 543.8 554.1 572.4 612.6 647.0 591.0 19

20 FA156140005 Net national income/Balance of primary incomes, net 12657.8 13354.0 13947.8 14288.5 15002.5 15766.0 16366.1 16557.1 20

21 FA156220001 Less: Current taxes on income, wealth, etc. (paid) 1676.4 1784.6 1939.9 1958.2 2049.0 2076.3 2205.1 2195.6 21

22 FA156404105 Plus: Social benefits (received) 2385.9 2498.6 2635.1 2717.3 2807.6 2926.1 3083.1 4181.3 22

23 FA156600001 Less: Social contributions (paid) 1104.3 1153.6 1204.7 1238.8 1298.8 1360.5 1421.4 1459.5 23

24 FA156403101 Plus: Other current transfers (received) 38.4 42.9 50.3 59.7 48.7 50.2 56.0 59.9 24

25 FA156403001 Less: Other current transfers (paid) 172.0 178.8 190.1 187.4 195.6 201.1 212.2 208.2 25

26 FA156012095 Equals: Disposable income, net 12129.5 12778.6 13298.3 13681.1 14315.5 15104.5 15666.5 16935.1 26

27 FA156901001 Less: Final consumption expenditures 11363.5 11847.7 12263.5 12693.3 13239.1 13913.5 14428.7 14047.6 27

28 FA156006005 Equals: Net saving 766.0 930.9 1034.9 987.8 1076.4 1190.9 1237.8 2887.5 28

 Capital account

29 FA156006315 Net saving less capital transfers 746.0 921.6 1013.4 973.2 1091.4 1181.4 1222.4 2885.0 29

30 FA156006005 Net saving 766.0 930.9 1034.9 987.8 1076.4 1190.9 1237.8 2887.5 30

31 FA155440005 Less: Capital transfers paid (net) 20.0 9.3 21.5 14.7 -15.0 9.6 15.4 2.5 31

32 FA155050905 Capital formation, net 144.9 156.7 210.8 247.8 274.7 279.4 272.7 310.3 32

33 FA155019005 Gross fixed capital formation, excluding consumer durables 592.0 633.6 706.6 768.1 825.3 867.7 887.1 955.6 33

34 FA155012005 Residential 423.9 463.9 523.8 577.6 631.4 663.6 673.4 738.5 34

35 FA165013005 Nonresidential (nonprofit organizations) 168.0 169.7 182.8 190.5 193.9 204.1 213.7 217.1 35

36 FA156300003 Less: Consumption of fixed capital 437.8 467.3 485.4 509.0 538.4 574.8 600.3 631.0 36

37 FA155420003 Acquisition of nonproduced nonfinancial assets -9.3 -9.5 -10.4 -11.3 -12.2 -13.5 -14.0 -14.4 37

38 FA155000905 Net lending (+) or borrowing (-), capital account (lines 29-32) 601.0 764.9 802.6 725.3 816.7 902.0 949.7 2574.7 38

 Financial account

39 FA155000905 Net lending (+) or borrowing (-) (line 38) 601.0 764.9 802.6 725.3 816.7 902.0 949.7 2574.7 39

40 FA154090005 Net acquisition of financial assets 1002.1 1335.2 1464.2 801.2 1377.0 1541.7 2098.6 3244.0 40

41 FA154000005 Currency and deposits 364.4 430.5 655.9 586.0 365.9 352.7 489.8 2196.4 41

42 FA153020005 Currency and transferable deposits 193.9 -5.2 105.9 -78.7 177.5 -86.3 -45.8 1712.1 42

43 FA153030005 Time and savings deposits 167.9 442.0 563.8 670.3 175.7 436.2 536.6 476.5 43

44 FA153091003 Foreign deposits 2.6 -6.4 -13.8 -5.6 12.7 2.9 -1.0 7.8 44

45 FA313131003 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 FA154022005 Debt securities -721.0 -88.3 198.0 -135.9 -91.8 825.8 258.7 -475.8 46

47 FA153061105 Treasury securities -183.3 -206.7 306.2 108.2 -63.4 601.6 174.7 -124.8 47

48 FA153061705 Agency- and GSE-backed securities (2) -117.2 124.9 197.7 -99.0 32.6 169.3 123.9 -346.1 48

49 FA153062005 Municipal securities -41.8 -50.3 -38.9 12.0 -38.0 1.1 -67.5 -33.8 49

50 FA153063005 Corporate and foreign bonds -378.7 43.8 -267.1 -157.1 -22.9 53.8 27.6 28.8 50

51 FA154023005 Loans 75.2 59.8 -69.5 -6.6 -63.1 -21.2 32.7 109.3 51

52 FA154041005 Short term 78.7 67.9 -54.7 -1.4 -59.8 -15.7 35.2 114.8 52

53 FA153065005 Long term (mortgages) -3.5 -8.2 -14.8 -5.2 -3.3 -5.5 -2.5 -5.5 53

54 FA153081005 Equity and investment fund shares 677.1 500.1 186.0 -65.5 596.0 -4.4 813.8 763.8 54

55 FA153064105 Corporate equities 300.5 236.9 -26.9 73.9 129.3 -182.3 62.4 435.7 55

56 FA153064205 Mutual fund shares 231.4 219.4 97.5 54.3 308.7 19.1 320.9 -59.5 56

57 FA153034005 Money market fund shares 2.0 -23.9 -16.9 7.3 59.4 181.1 411.8 337.4 57

58 FA152090205 Equity in noncorporate business 144.9 67.7 132.2 -201.0 98.7 -22.4 18.8 50.2 58

59 FA153094305 Equity investment under Public-Private Inv. Program (3) -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59
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Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

60 FA153052005 Insurance, pension and standardized guarantee schemes 600.8 405.7 493.6 420.0 554.0 385.3 495.9 607.2 60

61 FA153076005 Insurance receivables due from property-casualty insurance companies 32.3 -4.3 26.3 31.1 31.6 17.9 12.0 8.8 61

62 FA153040005 Life insurance reserves 20.9 49.8 47.2 41.8 19.0 49.4 16.7 94.2 62

63 FA153050005 Pension entitlements (4) 524.7 338.0 407.1 321.5 480.8 283.7 437.4 479.8 63

64 FA153095105 Non-life insurance reserves at life insurance companies 10.7 11.9 5.6 12.8 13.1 20.3 15.4 16.2 64

65 FA313195105 Retiree Health Care Funds 12.2 10.4 7.4 12.9 9.6 13.9 14.4 8.2 65

66 FA163096005 Other accounts receivable 5.6 27.5 0.2 3.2 16.0 3.5 7.6 43.1 66

67 FA154190005 Net incurrence of liabilities 317.9 191.5 336.9 448.5 579.2 479.3 522.3 626.7 67

68 FA163162003 Debt securities (municipals) -13.6 -6.5 -8.2 -3.0 1.4 -2.4 -3.3 -9.9 68

69 FA154123005 Loans 334.1 170.1 324.1 443.7 569.6 473.0 517.2 629.8 69

70 FA154141005 Short term 337.0 168.2 194.2 233.5 267.4 182.1 220.1 177.1 70

71 FA153166000 Consumer credit 177.6 219.1 233.5 236.2 194.3 172.7 185.1 -11.9 71

72 FA153168005 Depository institution loans n.e.c. 10.2 19.8 31.5 10.6 7.9 39.9 11.1 20.4 72

73 FA153169005 Other loans and advances 149.2 -70.6 -70.9 -13.3 65.1 -30.5 23.8 168.6 73

74 FA153165005 Long term (mortgages) -2.9 1.8 129.9 210.1 302.2 290.8 297.1 452.7 74

75 FA543077073 Insurance, pension and standardized guarantee schemes 3.0 1.2 1.7 -0.3 1.8 1.9 1.5 0.1 75

76 FA163170005 Other accounts payable (trade debt) -5.6 26.7 19.2 8.2 6.4 6.7 6.9 6.7 76

 Addendum:

77 FA155000005 Net lending (+) or borrowing (-), financial account (lines 40-67) 684.2 1143.8 1127.3 352.7 797.9 1062.4 1576.3 2617.3 77

 Other changes in volume account

78 FV158090185 Total other volume changes 1348.0 823.5 552.6 45.0 280.4 458.9 1444.6 606.3 78

79 FU155111005 Net investment in consumer durable goods 147.0 180.4 209.9 230.8 234.7 262.9 258.9 304.0 79

80 FV152010005 Disaster losses 0.0 0.0 0.0 0.0 -55.2 -29.7 0.0 0.0 80

81 FV158090085 Other volume changes 1117.9 264.2 18.0 186.8 119.8 65.3 559.1 259.8 81

82 FU157005045 Less: Statistical discrepancy (lines 38-77) (5) -83.1 -378.9 -324.7 372.6 18.8 -160.4 -626.6 -42.6 82

 Revaluation account

83 FR152010085 Nonfinancial assets 1861.0 1315.0 1509.0 1610.9 1811.1 1493.1 1496.8 2811.2 83

84 FR155035005 Real estate 1956.7 1417.5 1575.8 1686.6 1907.9 1540.2 1537.3 2755.0 84

85 FR165015205 Equipment -3.7 -2.7 -2.7 -2.6 -2.3 -0.5 -0.9 3.3 85

86 FR165013765 Intellectual property products 3.0 0.8 -1.9 2.2 3.1 3.2 1.4 6.3 86

87 FR155111005 Consumer durable goods -94.9 -100.6 -62.2 -75.3 -97.6 -49.8 -41.1 46.5 87

88 FR158080095 Financial assets 4755.1 2942.6 -49.8 2475.9 5546.8 -2261.7 8322.9 7553.4 88

89 FR154022005 Debt securities -314.9 199.8 -67.9 -39.1 55.6 -75.3 204.9 198.4 89

90 FR153064105 Corporate equities 2469.0 1517.5 -147.8 1219.2 2636.7 -1487.7 4345.6 4159.1 90

91 FR153064205 Mutual fund shares 817.0 246.6 -201.9 293.5 1038.7 -670.4 1499.4 1168.2 91

92 FR152090205 Equity in noncorporate business 827.8 591.8 525.3 537.8 767.4 491.0 715.3 826.8 92

93 FR153094305 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 93

94 FR153052045 Insurance, pension and standardized guarantee schemes 956.2 386.9 -157.5 464.5 1048.4 -519.3 1557.7 1200.9 94

95 FR158200095 Changes in net worth due to nominal holding gains/losses 6616.2 4257.6 1459.2 4086.7 7357.9 -768.6 9819.6 10364.6 95

 Changes in balance sheet account

96 FC152090005 Change in net worth (lines 32+38+78+95) 8710.2 6002.7 3025.1 5104.9 8729.7 871.6 12486.6 13855.9 96

 Balance sheet account (end of period)

97 FL152000005 Total assets 94835.2 100984.3 104202.9 109726.3 119009.4 120345.3 133338.4 147817.4 97

98 LM152010005 Nonfinancial assets 28007.0 29656.6 31583.8 33669.6 35931.9 37932.8 39951.3 43375.3 98

99 LM155035005 Real estate 22735.8 24280.8 26035.5 27938.3 30037.6 31794.7 33567.4 36602.5 99

100 LM155111005 Consumer durable goods 4779.6 4859.3 5007.0 5162.5 5299.6 5512.7 5730.5 6081.0 100

101 LM165015205 Equipment 346.1 364.1 383.8 401.9 418.0 438.5 459.3 485.6 101

102 LM165013765 Intellectual property products 145.4 152.4 157.5 166.8 176.7 186.8 194.2 206.1 102

103 FL154090005 Financial assets 66828.2 71327.7 72619.1 76056.7 83077.5 82412.5 93387.0 104442.1 103

104 FL154000005 Currency and deposits 8123.4 8616.7 9288.0 9863.3 10193.3 10546.2 11048.7 13244.5 104

105 FL153020005 Currency and transferable deposits 1104.8 1099.6 1207.1 1117.5 1295.0 1208.7 1173.4 2885.5 105

106 LM153091003 Foreign deposits 52.1 45.7 31.9 26.3 39.0 41.8 40.8 48.6 106

107 FL153030005 Time and savings deposits 6966.5 7471.4 8049.0 8719.5 8859.3 9295.7 9834.5 10310.5 107

108 FL313131003 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 108
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2013 2014 2015 2016 2017 2018 2019 2020

 

109 LM154022005 Debt securities 3907.2 4057.0 3973.9 3710.5 3706.4 4424.1 4727.1 4492.7 109

110 LM153061105 Treasury securities 849.3 708.2 998.5 1082.8 1098.3 1659.2 1775.1 1747.5 110

111 LM153061705 Agency- and GSE-backed securities (2) 178.5 293.1 493.3 395.4 432.3 587.9 685.4 314.8 111

112 LM153062005 Municipal securities 1849.5 1949.4 1913.5 1890.2 1900.5 1882.2 1904.9 1923.3 112

113 LM153063005 Corporate and foreign bonds 1029.9 1106.3 568.6 342.0 275.2 294.8 361.7 507.0 113

114 FL154023005 Loans 1216.0 1275.8 1206.3 1199.7 1136.6 1115.3 1148.0 1257.4 114

115 FL154041005 Short term 1094.4 1162.3 1107.6 1106.2 1046.4 1030.7 1065.9 1180.8 115

116 FL153065005 Long term (mortgages) 121.7 113.5 98.7 93.5 90.2 84.6 82.1 76.6 116

117 FL153081005 Equity and investment fund shares 28660.7 31519.7 31886.1 34014.6 39029.8 37346.1 45179.7 52148.1 117

118 LM153064105 Corporate equities 12159.3 13913.7 13739.1 15173.8 17939.8 16269.8 20989.3 25634.0 118

119 LM153064205 Mutual fund shares 6593.3 7059.3 6955.0 7302.8 8650.1 7998.8 9966.1 11074.8 119

120 FL153034005 Money market fund shares 1591.9 1568.0 1551.1 1558.5 1617.9 1799.0 2210.7 2548.2 120

121 LM152090205 Equity in noncorporate business 8316.2 8978.6 9641.0 9979.6 10822.1 11278.5 12013.5 12891.1 121

122 LM153094305 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 FL153052005 Insurance, pension and standardized guarantee schemes 24707.7 25617.8 26023.8 27024.5 28751.1 28717.1 31012.3 32985.0 123

124 FL153076005 Insurance receivables due from property-casualty insurance companies 489.4 485.1 511.4 542.4 574.0 591.9 603.9 612.7 124

125 FL153040005 Life insurance reserves 1407.8 1472.1 1510.9 1568.1 1626.6 1659.1 1731.3 1867.0 125

126 FL153050005 Pension entitlements (4) 22275.0 23102.8 23430.8 24317.6 25931.6 25812.9 27994.1 29797.8 126

127 FL153095105 Non-life insurance reserves at life insurance companies 288.6 300.4 306.0 318.8 331.8 352.2 367.6 383.8 127

128 FL313195105 Retiree Health Care Funds 246.9 257.3 264.7 277.6 287.1 301.0 315.4 323.6 128

129 FL163096005 Other accounts receivable 213.2 240.7 241.0 244.2 260.2 263.7 271.3 314.5 129

130 FL152100005 Total liabilities and net worth 94835.2 100984.3 104202.9 109726.3 119009.4 120345.3 133338.4 147817.4 130

131 FL154190005 Liabilities 14224.1 14370.6 14564.1 14982.5 15536.0 16000.2 16506.7 17129.8 131

132 FL163162003 Debt securities (municipals) 234.7 228.2 220.0 217.0 218.4 216.0 212.8 202.8 132

133 FL154123005 Loans 13665.3 13790.4 13971.1 14384.8 14928.6 15386.6 15887.9 16514.1 133

134 FL154141005 Short term 4006.6 4174.8 4239.5 4473.0 4740.4 4926.1 5146.2 5328.0 134

135 FL153166000 Consumer credit 3090.5 3309.5 3400.2 3636.4 3830.8 4007.0 4192.2 4185.0 135

136 FL153168005 Depository institution loans n.e.c. 216.0 235.8 280.6 291.3 299.1 339.0 350.2 370.5 136

137 FL153169005 Other loans and advances 700.2 629.5 558.7 545.3 610.5 580.0 603.8 772.4 137

138 FL153165005 Long term (mortgages) 9658.7 9615.6 9731.6 9911.8 10188.2 10460.5 10741.7 11186.1 138

139 FL543077073 Insurance, pension and standardized guarantee schemes 28.7 29.9 31.6 31.3 33.1 35.0 36.5 36.6 139

140 FL163170005 Other accounts payable (trade debt) 295.4 322.1 341.3 349.5 355.9 362.6 369.5 376.3 140

141 FL152090005 Net worth 80611.0 86613.7 89638.8 94743.7 103473.4 104345.0 116831.7 130687.6 141

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
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2013 2014 2015 2016 2017 2018 2019 2020

 

 Current account

 1 FA116902505 Gross value added 3070.0 3234.3 3296.0 3315.3 3488.8 3682.0 3789.6 3552.4 1

 2 FA116300001 Less: Consumption of fixed capital 277.2 291.6 302.2 310.0 322.5 337.4 351.7 364.1 2

 3 FA116902605 Equals: Net value added 2792.7 2942.7 2993.8 3005.2 3166.3 3344.5 3437.9 3188.3 3

 4 FA116025001 Compensation of employees (paid) 905.9 949.3 1002.2 1036.4 1087.3 1144.5 1204.1 1171.4 4

 5 FA116020001 Wages and salaries 758.9 800.2 847.2 877.8 921.2 968.6 1021.2 990.9 5

 6 FA116401005 Employers’ social contributions 147.0 149.0 155.0 158.7 166.1 175.8 182.8 180.5 6

 7 FA116240101 Taxes on production and imports less subsidies 167.7 182.9 203.5 208.4 222.8 237.0 243.3 23.5 7

 8 FA116402105 Operating surplus, net 1719.2 1810.6 1788.1 1760.4 1856.2 1963.0 1990.5 1993.4 8

 9 FA116140001 Net national income/Balance of primary incomes, net 27.4 28.1 25.7 22.7 30.6 29.8 25.6 28.6 9

10 FA116402105 Operating surplus, net 1719.2 1810.6 1788.1 1760.4 1856.2 1963.0 1990.5 1993.4 10

11 FA116130101 Property income (interest received) 12.8 13.6 14.6 15.6 18.0 21.0 22.0 20.5 11

12 FA116150005 Less: Uses of property income (paid) 1704.5 1796.0 1777.0 1753.3 1843.6 1954.2 1986.9 1985.3 12

13 FA116130001 Interest 211.4 215.8 222.6 232.6 252.0 256.5 271.7 230.9 13

14 FA116122001 Withdrawals from income of quasi-corporations (2) 1492.9 1580.0 1554.2 1520.4 1591.2 1697.0 1713.7 1753.4 14

15 FA113192281 Reinvested earnings on foreign direct investment 0.2 0.2 0.2 0.3 0.4 0.8 1.4 1.0 15

16 FA116112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 FA116140001 Net national income/Balance of primary incomes, net 27.4 28.1 25.7 22.7 30.6 29.8 25.6 28.6 17

18 FA116403001 Less: Other current transfers (paid) 27.4 28.1 25.7 22.7 30.6 29.8 25.6 28.6 18

19 FA116012005 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA116012005 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 FA116006305 Net saving less capital transfers 0.0 -0.0 0.0 0.0 9.4 3.0 0.0 0.0 21

22 FA116012005 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA115440005 Less: Capital transfers paid (net) -0.0 0.0 0.0 0.0 -9.4 -3.0 0.0 0.0 23

24 FA115050985 Capital formation, net 64.2 72.1 80.5 66.9 78.1 82.5 84.3 59.5 24

25 FA115019085 Gross fixed capital formation 320.0 354.1 362.8 375.2 399.3 416.2 435.7 434.9 25

26 FA115013085 Nonresidential 240.3 265.1 261.0 262.6 280.1 291.4 305.7 294.5 26

27 FA115012005 Residential 79.7 89.0 101.8 112.6 119.2 124.8 130.0 140.5 27

28 FA116300001 Less: Consumption of fixed capital 277.2 291.6 302.2 310.0 322.5 337.4 351.7 364.1 28

29 FA115020005 Change in private inventories 21.4 9.6 19.9 1.7 1.2 3.7 0.3 -11.2 29

30 FA115000905 Net lending (+) or borrowing (-), capital account (lines 21-24) -64.2 -72.1 -80.5 -66.9 -68.7 -79.5 -84.3 -59.5 30

 Financial account

31 FA115000905 Net lending (+) or borrowing (-) (line 30) -64.2 -72.1 -80.5 -66.9 -68.7 -79.5 -84.3 -59.5 31

32 FA114090005 Net acquisition of financial assets 266.8 372.5 310.6 383.9 613.6 309.1 331.5 545.4 32

33 FA114000005 Currency and deposits 23.4 85.1 18.6 73.0 117.9 59.3 79.0 226.6 33

34 FA113020005 Currency and transferable deposits -8.1 69.4 7.4 24.8 26.7 11.5 20.4 104.1 34

35 FA113030003 Time and savings deposits 31.5 15.7 11.3 48.2 91.1 47.8 58.6 122.5 35

36 FA114022005 Debt securities 4.4 -0.4 6.0 2.8 6.9 1.9 1.0 3.0 36

37 FA113061003 Treasury securities 5.7 0.2 5.7 2.0 6.1 2.2 0.9 2.7 37

38 FA113062003 Municipal securities -1.4 -0.7 0.3 0.9 0.8 -0.3 0.1 0.3 38

39 FA114023005 Loans 1.0 -0.4 7.1 -2.0 8.4 1.0 2.7 4.3 39

40 FA113066003 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 FA113065005 Long term (mortgages) 1.0 -0.4 7.1 -2.0 8.4 1.0 2.7 4.3 41

42 FA113081005 Equity and investment fund shares 2.6 3.7 3.0 3.3 11.6 4.9 6.1 9.3 42

43 FA113034003 Money market fund shares 2.0 2.9 2.5 2.6 9.1 4.8 5.8 9.1 43

44 FA113092405 Equity in government-sponsored enterprises (3) 0.6 0.7 0.5 0.7 2.6 0.2 0.3 0.2 44

45 FA113076005 Insurance, pension and standardized guarantee schemes (4) -26.2 12.7 -10.2 -3.0 4.1 -1.3 10.0 16.2 45

46 FA113096005 Other accounts receivable 261.5 271.9 286.1 309.7 464.8 243.2 232.7 286.1 46

47 FA113070003 Trade receivables 47.3 21.4 -3.6 76.7 55.0 49.6 47.7 47.1 47

48 FA113072003 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 117.5 48

49 FA113093005 Other (miscellaneous assets) 214.3 250.5 289.6 232.9 409.7 193.6 185.0 121.5 49

50 FA114194005 Net incurrence of liabilities 331.0 444.7 391.1 450.7 682.3 388.6 415.8 605.0 50

51 FA114135005 Loans 109.3 286.0 252.9 390.3 465.2 298.1 272.9 510.4 51

52 FA114141005 Short term 27.8 97.4 71.4 120.0 134.0 86.7 24.7 269.4 52

53 FA113168005 Depository institution loans n.e.c. 21.6 86.2 64.1 119.1 128.9 77.9 16.0 173.3 53

54 FA113169005 Other loans and advances 6.3 11.2 7.3 0.8 5.1 8.8 8.6 96.1 54

55 FA114142005 Long term 81.5 188.6 181.5 270.3 331.2 211.4 248.3 241.0 55

56 FA113165005 Mortgages 81.4 188.2 181.1 269.3 331.6 206.7 248.4 241.5 56

57 FA115114305 Foreign direct investment in the U.S.: debt 0.1 0.4 0.4 1.0 -0.4 4.7 -0.2 -0.5 57
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58 FA113181005 Equity and investment fund shares 142.3 64.9 128.4 -216.7 100.4 -27.0 12.8 44.8 58

59 FA112090205 Equity in noncorporate business 142.0 63.4 126.9 -218.4 97.7 -31.9 13.5 43.3 59

60 FA115114103 Foreign direct investment in the U.S.: equity 0.3 1.4 1.5 1.7 2.7 5.0 -0.7 1.4 60

61 FA113196005 Other accounts payable 79.3 93.8 9.8 277.1 116.8 117.4 130.1 49.8 61

62 FA113170005 Trade payables 34.3 9.0 -16.0 65.8 7.8 5.4 42.9 -25.8 62

63 FA113178003 Taxes payable 3.2 6.8 5.2 10.0 4.6 18.5 8.4 13.1 63

64 FA113193003 Other (miscellaneous liabilities) 41.8 77.9 20.7 201.4 104.4 93.6 78.7 62.5 64

 Addendum:

65 FA115000005 Net lending (+) or borrowing (-), financial account (lines 32-50) -64.2 -72.1 -80.5 -66.9 -68.7 -79.5 -84.3 -59.5 65

 Other changes in volume account

66 FV118090105 Total other volume changes -0.0 0.0 0.0 -0.0 0.0 -0.0 -0.0 0.0 66

67 FV112010005 Disaster losses 0.0 0.0 0.0 0.0 -25.2 -13.4 0.0 0.0 67

68 FV118090085 Other volume changes -0.0 0.0 0.0 -0.0 25.2 13.4 -0.0 0.0 68

 Revaluation account

69 FR112010005 Nonfinancial assets 834.0 591.5 527.4 544.6 756.7 539.5 738.8 837.4 69

70 FR115035005 Real estate 832.8 571.8 565.4 533.6 718.0 500.3 714.3 790.3 70

71 FR115035023 Residential 398.6 320.9 348.8 363.3 447.9 437.9 400.8 620.6 71

72 FR115035035 Nonresidential 434.2 250.9 216.6 170.3 270.1 62.4 313.5 169.6 72

73 FR115015205 Equipment 11.7 13.9 12.0 19.5 25.6 37.6 24.2 40.1 73

74 FR115012265 Residential -2.2 -2.9 -1.9 -2.5 -1.4 3.3 -2.3 6.8 74

75 FR115013265 Nonresidential 13.9 16.8 13.9 22.0 26.9 34.3 26.5 33.3 75

76 FR115013765 Intellectual property products 4.7 1.8 -0.1 3.2 5.1 4.3 3.6 9.2 76

77 FR115020005 Inventories -15.2 4.0 -49.9 -11.7 8.0 -2.7 -3.2 -2.2 77

78 FR114022005 Financial assets (debt securities) -3.8 2.1 -1.0 -1.0 0.1 -1.2 3.2 3.5 78

79 FR114190085 Liabilities 830.1 593.6 526.4 543.6 766.2 541.3 742.1 840.9 79

80 FR115114305 Direct investment in the U.S.: debt 0.0 -0.0 0.0 -0.1 0.1 0.1 0.1 -0.0 80

81 FR112090205 Equity in noncorporate business 827.8 591.8 525.3 537.8 767.4 491.0 715.3 826.8 81

82 FR115114103 Direct investment in the U.S.: equity 2.3 1.8 1.1 5.9 -1.2 50.3 26.7 14.1 82

83 FR118200005 Changes in net worth due to nominal holding gains/losses -0.0 0.0 -0.0 0.0 -9.4 -3.0 0.0 -0.0 83

 Changes in balance sheet account

84 FC112090095 Change in net worth (lines 24+30+66+83) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84

 Balance sheet account (end of period)

85 FL112000005 Total assets 14374.4 15412.7 16330.2 17324.5 18747.8 19664.3 20822.2 22268.1 85

86 LM112010005 Nonfinancial assets 10517.7 11181.3 11789.2 12400.6 13210.2 13818.8 14641.9 15538.8 86

87 LM115035005 Real estate 9269.4 9878.0 10495.5 11092.8 11860.2 12416.7 13202.9 14067.5 87

88 LM115035023 Residential (5) 5047.3 5372.7 5735.0 6118.8 6566.3 7013.1 7437.3 8087.8 88

89 LM115035035 Nonresidential 4222.1 4505.3 4760.5 4974.0 5293.9 5403.6 5765.6 5979.8 89

90 LM115015205 Equipment 757.1 788.2 799.7 809.3 828.6 863.9 885.9 909.9 90

91 LM115012265 Residential 47.4 47.0 47.9 48.5 50.2 56.4 56.6 65.7 91

92 LM115013265 Nonresidential 709.7 741.2 751.8 760.8 778.4 807.5 829.2 844.1 92

93 LM115013765 Intellectual property products 214.0 224.4 233.3 247.8 261.4 277.1 295.0 316.6 93

94 LM115020005 Inventories 277.1 290.7 260.8 250.8 260.0 261.1 258.2 244.7 94

95 FL114090005 Financial assets 3856.7 4231.4 4540.9 4923.9 5537.6 5845.5 6180.3 6729.3 95

96 FL114000005 Currency and deposits 1011.5 1096.6 1115.2 1188.3 1306.1 1365.4 1444.4 1671.0 96

97 FL113020005 Currency and transferable deposits 177.7 247.1 254.5 279.3 306.0 317.5 337.9 442.0 97

98 FL113030003 Time and savings deposits 833.8 849.5 860.8 909.0 1000.1 1047.9 1106.5 1229.0 98

99 LM114022005 Debt securities 59.5 61.2 66.2 68.1 75.1 75.8 80.0 86.6 99

100 LM113061003 Treasury securities 55.2 57.2 61.9 63.0 69.0 70.2 74.1 80.2 100

101 LM113062003 Municipal securities 4.4 4.0 4.3 5.1 6.0 5.6 5.9 6.4 101

102 FL114023005 Loans 34.8 34.5 41.5 39.5 48.0 49.0 51.7 56.0 102

103 FL113066003 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 FL113065005 Long term (mortgages) 34.8 34.5 41.5 39.5 48.0 49.0 51.7 56.0 104

105 FL113081005 Equity and investment fund shares 90.5 94.1 97.1 100.5 112.1 117.0 123.2 132.5 105

106 FL113034003 Money market fund shares 82.7 85.6 88.1 90.7 99.8 104.6 110.4 119.5 106

107 FL113092405 Equity in government-sponsored enterprises (3) 7.8 8.5 9.0 9.8 12.3 12.5 12.8 13.0 107

108 FL113076005 Insurance, pension and standardized guarantee schemes (4) 116.7 129.4 119.3 116.3 120.3 119.0 129.0 145.2 108
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109 FL113096005 Other accounts receivable 2543.6 2815.5 3101.6 3411.3 3876.0 4119.3 4351.9 4638.0 109

110 FL113070003 Trade receivables 653.4 674.7 671.2 747.9 802.9 852.6 900.3 947.3 110

111 FL113072003 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 117.5 111

112 FL113093005 Other (miscellaneous assets) 1890.3 2140.8 2430.4 2663.3 3073.1 3266.7 3451.7 3573.1 112

113 FL112100005 Total liabilities and net worth 14374.4 15412.7 16330.2 17324.5 18747.8 19664.3 20822.2 22268.1 113

114 FL114194005 Liabilities 14374.4 15412.7 16330.2 17324.5 18747.8 19664.3 20822.2 22268.1 114

115 FL114135005 Loans 4190.7 4473.9 4721.9 5110.2 5573.8 5870.7 6142.8 6652.5 115

116 FL114141005 Short term 1205.6 1303.0 1372.3 1492.3 1626.3 1712.9 1737.6 2007.0 116

117 FL113168005 Depository institution loans n.e.c. 989.0 1075.2 1139.3 1258.4 1387.3 1465.2 1481.2 1654.5 117

118 FL113169005 Other loans and advances 216.6 227.8 233.0 233.8 239.0 247.8 256.4 352.4 118

119 FL114142005 Long term 2985.2 3170.9 3349.6 3617.9 3947.5 4157.8 4405.2 4645.6 119

120 FL113165005 Mortgages 2984.1 3169.4 3347.8 3615.2 3945.2 4150.7 4398.1 4639.1 120

121 FL115114305 Foreign direct investment in the U.S.: debt 1.1 1.5 1.9 2.7 2.4 7.1 7.1 6.5 121

122 LM113181005 Equity and investment fund shares 8284.9 8946.3 9605.9 9934.8 10777.8 11279.9 12035.7 12921.9 122

123 LM112090205 Equity in noncorporate business 8275.4 8933.5 9590.6 9911.9 10753.4 11200.3 11930.0 12800.7 123

124 LM115114103 Foreign direct investment in the U.S.: equity 9.5 12.7 15.3 22.9 24.4 79.6 105.6 121.2 124

125 FL113196005 Other accounts payable 1898.8 1992.6 2002.4 2279.5 2396.3 2513.7 2643.8 2693.6 125

126 FL113170005 Trade payables 526.8 535.7 519.7 585.5 593.2 598.6 641.5 615.7 126

127 FL113178003 Taxes payable 110.5 117.4 122.5 132.5 137.2 155.6 164.0 177.1 127

128 FL113193003 Other (miscellaneous liabilities) 1261.5 1339.4 1360.1 1561.5 1665.9 1759.5 1838.2 1900.8 128

129 FL112090095 Net worth 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 129

(1) Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(2) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(3) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(4) Net equity in reserves of property-casualty insurance companies.

(5) Farm houses are included in the household sector.
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 Current account

 1 FA106902501 Gross value added 8378.0 8785.5 9128.5 9238.2 9664.1 10179.9 10604.0 10168.8 1

 2 FA106300003 Less: Consumption of fixed capital 1279.7 1349.2 1401.7 1430.2 1492.8 1561.2 1644.8 1707.6 2

 3 FA106902605 Equals: Net value added 7098.3 7436.2 7726.8 7808.0 8171.3 8618.7 8959.1 8461.2 3

 4 FA106025005 Compensation of employees (paid) 4768.1 5026.2 5292.6 5430.6 5705.4 6023.8 6315.2 6327.5 4

 5 FA106020001 Wages and salaries 3968.6 4197.2 4430.6 4560.3 4786.8 5049.9 5300.3 5319.3 5

 6 FA106401001 Employers’ social contributions 799.5 829.0 862.0 870.3 918.7 974.0 1014.9 1008.2 6

 7 FA106240101 Taxes on production and imports less subsidies 742.0 767.6 772.8 785.7 827.0 882.8 931.3 463.3 7

 8 FA106402101 Operating surplus, net 1588.2 1642.4 1661.4 1591.6 1638.9 1712.1 1712.6 1670.4 8

 9 FA106140005 Net national income/Balance of primary incomes, net 989.6 959.3 911.6 778.5 834.2 883.8 782.7 741.6 9

10 FA106402101 Operating surplus, net 1588.2 1642.4 1661.4 1591.6 1638.9 1712.1 1712.6 1670.4 10

11 FA106150105 Property income (received) 539.4 538.8 545.3 522.3 596.2 912.5 773.2 605.2 11

12 FA106130101 Interest 149.6 149.4 153.0 153.2 166.7 187.6 241.5 234.6 12

13 FA106121101 Distributed income of corporations (dividends) 100.6 102.9 124.9 102.4 102.0 946.7 386.4 179.2 13

14 FA103092201 Reinvested earnings on U.S. direct investment abroad 289.2 286.4 267.4 266.7 327.4 -221.7 145.2 191.3 14

15 FA106150005 Less: Uses of property income (paid) 1138.1 1221.9 1295.1 1335.4 1400.9 1740.8 1703.1 1534.0 15

16 FA106130001 Interest 411.6 419.7 439.6 461.6 480.4 448.8 494.6 470.0 16

17 FA106121001 Distributed income of corporations (dividends) 632.5 700.5 766.0 793.1 822.8 1172.7 1082.2 975.4 17

18 FA103192201 Reinvested earnings on foreign direct investment 72.1 78.9 71.6 65.0 80.7 100.6 105.9 69.7 18

19 FA106112001 Rent 21.9 22.9 17.9 15.6 17.0 18.7 20.4 18.8 19

20 FA106140005 Net national income/Balance of primary incomes, net 989.6 959.3 911.6 778.5 834.2 883.8 782.7 741.6 20

21 FA106220001 Less: Current taxes on income, wealth, etc. (paid) 263.5 290.7 283.2 261.9 224.9 200.5 203.6 189.6 21

22 FA106403001 Less: Other current transfers (paid) 84.2 79.4 99.3 74.9 95.3 98.5 91.6 94.1 22

23 FA106012095 Equals: Disposable income, net 641.9 589.1 529.1 441.8 514.0 584.8 487.5 457.8 23

24 FA106012095 Equals: Net saving 641.9 589.1 529.1 441.8 514.0 584.8 487.5 457.8 24

 Capital account

25 FA106006385 Net saving less capital transfers 647.6 595.8 532.3 439.1 322.5 591.0 500.0 444.2 25

26 FA106012095 Net saving 641.9 589.1 529.1 441.8 514.0 584.8 487.5 457.8 26

27 FA105440005 Less: Capital transfers paid (net) -5.7 -6.7 -3.2 2.6 191.5 -6.2 -12.4 13.6 27

28 FA105050985 Capital formation, net 411.3 480.5 534.2 377.8 403.5 507.5 546.9 256.1 28

 Gross fixed capital formation (acquisition of

29 FA105019085 produced nonfinancial assets) 1606.5 1753.8 1789.5 1766.2 1867.9 2015.3 2118.5 2012.3 29

30 FA106300003 Less: Consumption of fixed capital 1279.7 1349.2 1401.7 1430.2 1492.8 1561.2 1644.8 1707.6 30

31 FA105420095 Acquisition of nonproduced nonfinancial assets 1.4 1.6 29.5 7.3 0.2 -1.7 -0.1 -0.2 31

32 FA105020005 Change in private inventories 83.1 74.3 116.9 34.6 28.3 55.0 73.3 -48.3 32

33 FA105000905 Net lending (+) or borrowing (-), capital account (lines 25-28) 236.4 115.3 -1.8 61.4 -81.0 83.5 -46.9 188.1 33

 Financial account

34 FA105000905 Net lending (+) or borrowing (-) (line 33) 236.4 115.3 -1.8 61.4 -81.0 83.5 -46.9 188.1 34

35 FA104090005 Net acquisition of financial assets 707.7 673.4 1140.0 945.8 542.5 865.9 2396.4 1373.5 35

36 FA104000005 Currency and deposits 149.8 19.9 41.3 175.3 95.1 133.6 189.2 774.9 36

37 FA103020000 Currency and transferable deposits 42.1 116.8 49.4 154.1 -16.2 238.0 150.2 659.5 37

38 FA103030003 Time and savings deposits 39.2 -87.6 10.9 17.5 -7.7 5.8 14.3 103.6 38

39 FA103091003 Foreign deposits 68.6 -9.3 -19.0 3.7 119.0 -110.3 24.7 11.8 39

40 FA104022005 Debt securities -3.9 25.7 3.7 -4.1 28.8 19.1 69.3 52.5 40

41 FA103069100 Open market paper -5.6 25.1 7.8 -6.9 -8.8 38.4 55.4 38.1 41

42 FA103061103 Treasury securities 1.7 1.6 -3.8 4.2 30.1 -15.6 6.7 9.8 42

43 FA103061703 Agency- and GSE-backed securities (2) 0.3 0.6 -1.3 1.3 10.0 -5.5 2.4 4.4 43

44 FA103062003 Municipal securities -0.2 -1.6 1.0 -2.7 -2.5 1.7 4.8 0.2 44

45 FA104035005 Loans -7.4 29.7 26.5 -14.0 -82.9 53.3 -84.8 -27.0 45

46 FA104041005 Short term -1.7 27.4 13.6 26.8 -52.7 -24.7 -1.9 26.4 46

47 FA104042005 Long term -5.7 2.4 12.9 -40.8 -30.2 78.0 -82.9 -53.4 47

48 FA103081005 Equity and investment fund shares 361.9 416.0 261.2 209.3 310.0 -290.4 212.2 281.9 48

49 FA103034000 Money market fund shares 30.6 21.9 19.0 -112.5 35.6 -33.4 92.2 119.6 49

50 FA103064103 Corporate equities 10.7 37.3 -42.1 66.9 -89.9 -40.7 10.2 -127.5 50

51 FA103064203 Mutual fund shares 2.5 24.0 12.2 -5.4 8.0 -9.0 5.3 10.6 51

52 FA103092105 U.S. direct investment abroad: equity 304.1 316.9 269.7 273.4 343.4 -209.9 105.1 282.2 52

53 FA103092405 Equity in government-sponsored enterprises (2) 0.0 0.1 0.1 0.1 0.3 0.1 0.1 0.1 53

54 FA103094105 Investment in finance company subsidiaries 14.1 15.8 2.2 -13.1 12.5 2.5 -0.6 -3.0 54

55 FA103076005 Insurance, pension and standardized guarantee schemes (3) -5.9 10.2 2.3 6.6 13.9 11.4 15.0 25.3 55
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56 FA103096005 Other accounts receivable 213.3 171.9 805.0 572.8 177.5 938.9 1995.5 266.0 56

57 FA103070005 Trade receivables 271.8 104.1 33.4 198.8 163.4 396.3 540.5 29.7 57

58 FA103072005 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 210.0 58

59 FA103093005 Other (miscellaneous assets) -58.5 67.8 771.6 373.9 14.1 542.6 1454.9 26.2 59

60 FA104194005 Net incurrence of liabilities 593.1 993.4 1235.1 797.0 301.8 847.0 1960.7 1326.1 60

61 FA104122005 Debt securities 271.7 321.0 410.1 294.7 327.2 135.9 270.3 617.7 61

62 FA103169100 Open market paper 14.2 37.5 -3.0 1.8 25.9 -10.2 -1.9 -62.3 62

63 FA103162000 Municipal securities 1.5 -0.2 13.5 20.7 15.3 -3.2 15.2 4.7 63

64 FA103163003 Corporate bonds 256.0 283.7 399.7 272.2 286.0 149.3 257.0 675.4 64

65 FA104135005 Loans 160.3 220.1 227.3 116.8 23.2 139.2 203.9 269.9 65

66 FA104141005 Short term 140.5 182.5 95.4 -27.1 65.6 114.4 158.9 267.2 66

67 FA103168005 Depository institution loans n.e.c. 53.6 100.1 103.0 -4.9 -52.2 103.4 30.9 77.6 67

68 FA103169005 Other loans and advances 86.9 82.4 -7.5 -22.2 117.8 10.9 128.0 189.6 68

69 FA104142005 Long term 19.8 37.5 131.9 143.9 -42.5 24.9 45.0 2.6 69

70 FA103165005 Mortgages 7.9 -17.7 91.8 6.2 -33.9 97.8 50.3 44.4 70

71 FA103192305 Foreign direct investment in the U.S.: debt 12.0 55.2 40.0 137.7 -8.6 -72.9 -5.3 -41.7 71

72 FA103181005 Equity and investment fund shares -101.5 -171.7 -77.8 -222.6 -27.1 -381.9 -241.7 11.1 72

73 FA103164103 Corporate equities -277.3 -301.9 -453.5 -495.9 -325.6 -617.4 -457.8 -168.8 73

74 FA103192105 Foreign direct investment in the U.S.: equity 175.8 130.2 375.6 273.2 298.5 235.5 216.1 179.9 74

75 FA103152025 Insurance, pension and standardized guarantee schemes 123.4 39.4 74.6 64.8 -47.8 41.1 69.8 36.1 75

76 FA573074005 Pension fund contributions payable -2.5 -2.9 15.2 8.8 19.2 -34.6 -4.6 -10.0 76

77 FA573073005 Claim of pension fund on sponsor 125.9 42.2 59.5 55.9 -67.0 75.6 74.4 46.1 77

78 FA103196005 Other accounts payable 139.2 584.7 600.9 543.4 26.4 912.7 1658.4 391.3 78

79 FA103170005 Trade payables 100.5 148.5 24.3 184.2 81.3 320.7 230.1 130.7 79

80 FA103178005 Taxes payable -9.9 12.2 -21.2 -8.1 211.1 -10.6 -6.8 13.8 80

81 FA103193005 Miscellaneous liabilities 48.6 423.9 597.7 367.2 -266.1 602.6 1435.1 246.9 81

 Addendum:

82 FA105000005 Net lending (+) or borrowing (-), financial account (lines 35-60) 114.6 -319.9 -95.1 148.8 240.7 18.9 435.7 47.4 82

 Other changes in volume account

83 FV108090105 Total other volume changes -166.5 -451.9 -201.7 -90.1 319.9 369.4 517.4 -164.7 83

84 FV102010005 Disaster losses 0.0 0.0 0.0 0.0 -19.7 -5.5 0.0 0.0 84

85 FV108090085 Other volume changes -30.4 -14.6 -52.1 -173.0 -29.0 391.8 34.8 -42.2 85

86 FU107005045 Less: Statistical discrepancy (lines 33-82) (4) 121.7 435.2 93.3 -87.5 -321.7 64.7 -482.6 140.7 86

87 FU105020601 Less: Inventory valuation adjustment 14.4 2.1 56.3 4.5 -46.8 -47.7 -0.0 -18.2 87

 Revaluation account

88 FR102010005 Nonfinancial assets 1194.3 663.3 667.3 580.2 888.0 270.3 1047.0 738.7 88

89 FR105035005 Real estate 1167.3 669.0 778.5 512.6 790.9 137.3 1005.3 554.2 89

90 FR105015205 Equipment -23.5 -13.3 -60.7 -22.4 11.1 62.0 8.2 24.0 90

91 FR105013765 Intellectual property products 44.4 20.2 -10.3 33.3 54.9 48.8 35.1 107.5 91

92 FR105020015 Inventories 6.0 -12.7 -40.2 56.6 31.1 22.2 -1.6 53.0 92

93 FR108080095 Financial assets 332.8 168.5 -18.8 158.6 363.7 -142.7 573.0 403.2 93

94 FR104022005 Debt securities -4.3 3.3 -0.6 -0.8 0.5 -1.9 4.1 1.9 94

95 FR103092305 Direct investment abroad: debt -21.7 48.9 3.7 -14.6 8.9 -34.1 -2.5 0.2 95

96 FR103064103 Corporate equities 309.0 156.7 -11.7 146.1 326.2 -118.7 517.7 362.0 96

97 FR103064203 Mutual fund shares 28.1 8.6 -6.5 13.3 36.9 -22.1 51.2 39.4 97

98 FR103092105 Direct investment abroad: equity 682.1 -355.7 -372.4 25.1 952.9 -1139.4 935.9 293.5 98

99 FR103093005 Other accounts receivable (miscellaneous assets) -660.3 306.8 368.7 -10.5 -961.7 1173.5 -933.4 -293.7 99

100 FR104190085 Liabilities 6001.8 3002.8 -580.7 2350.3 5269.8 -2162.9 9063.4 9483.2 100

101 FR103192305 Foreign direct investment in the U.S.: debt -0.2 -8.3 2.0 -38.3 13.3 9.1 7.8 -2.1 101

102 FR103164103 Corporate equity 5270.1 2756.6 -402.9 2035.2 4420.1 -1586.4 7594.5 8449.3 102

103 FR103192105 Foreign direct investment in the U.S.: equity 731.7 246.2 -177.8 315.1 849.8 -576.5 1468.9 1034.0 103

104 FR103152025 Insurance, pension and standardized guarantee schemes -326.1 -152.9 43.6 -142.3 -270.1 152.0 -434.6 -316.0 104

105 FR103193005 Other accounts payable (miscellaneous liabilities) 326.4 161.2 -45.5 180.6 256.9 -161.2 426.8 318.1 105

106 FR108200005 Changes in net worth due to nominal holding gains/losses -4474.8 -2170.9 1229.2 -1611.5 -4018.2 2290.6 -7443.4 -8341.3 106

 Changes in balance sheet account

107 FC102090095 Change in net worth (lines 28+33+83+106) (5) -3993.7 -2027.0 1559.9 -1262.4 -3375.8 3250.9 -6426.0 -8061.8 107

 Balance sheet account (end of period)

108 FL102000005 Total assets 32037.0 34006.1 36220.4 38245.3 40441.1 42376.1 47374.2 50121.7 108

109 LM102010005 Nonfinancial assets (6) 18021.4 19148.5 20241.6 21162.1 22451.7 23263.5 24892.2 25863.0 109

110 LM105035005 Real estate 9508.5 10317.2 11219.6 11825.8 12707.8 12991.7 14204.0 14828.3 110

111 LM105015205 Equipment 4322.6 4486.1 4594.8 4695.7 4841.4 5074.2 5254.9 5355.7 111
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112 LM105013765 Intellectual property products 2016.3 2111.8 2173.4 2300.2 2455.9 2626.1 2790.1 3013.0 112

113 LM105020015 Inventories 2174.0 2233.5 2253.8 2340.4 2446.6 2571.5 2643.2 2666.1 113

114 FL104090005 Financial assets 14015.7 14857.7 15978.9 17083.2 17989.4 19112.5 22481.9 24258.7 114

115 FL104000005 Currency and deposits 1018.1 1038.0 1079.2 1254.5 1349.6 1483.1 1672.3 2447.2 115

116 FL103020000 Currency and transferable deposits 647.7 764.4 813.8 967.9 951.7 1189.7 1339.9 1999.4 116

117 FL103030003 Time and savings deposits 248.2 160.7 171.6 189.0 181.3 187.2 201.5 305.0 117

118 FL103091003 Foreign deposits 122.2 112.9 93.9 97.6 216.6 106.3 131.0 142.8 118

119 LM104022005 Debt securities 179.4 208.4 211.6 206.7 236.0 253.2 326.6 381.0 119

120 FL103069100 Open market paper 106.5 131.6 139.4 132.5 123.7 162.1 217.6 255.7 120

121 LM103061103 Treasury securities 38.8 41.7 37.4 41.2 71.3 54.4 63.6 75.2 121

122 LM103061703 Agency- and GSE-backed securities (2) 12.9 13.9 12.5 13.7 23.8 18.1 21.2 25.1 122

123 LM103062003 Municipal securities 21.2 21.2 22.3 19.3 17.2 18.5 24.2 25.1 123

124 FL104035005 Loans 256.6 335.2 365.4 336.8 262.8 282.1 194.8 168.0 124

125 FL104041005 Short term 60.8 88.1 101.7 128.5 75.8 51.1 49.2 75.6 125

126 FL102051003 Security repurchases 22.6 50.4 64.6 90.3 39.6 14.6 13.4 39.8 126

127 FL103066005 Consumer credit 38.1 37.7 37.1 38.2 36.2 36.5 35.8 35.8 127

128 FL104042005 Long term 195.9 247.1 263.7 208.3 187.0 231.0 145.6 92.4 128

129 FL103065003 Mortgages 27.1 29.0 52.6 29.8 32.2 34.2 36.4 38.8 129

130 FL103092305 U.S. direct investment abroad: debt 168.8 218.1 211.1 178.5 154.8 196.8 109.2 53.6 130

131 FL103081005 Equity and investment fund shares 7309.7 7535.3 7406.3 7800.0 9426.0 7855.3 9572.4 10549.1 131

132 FL103034000 Money market fund shares 535.5 557.4 576.4 463.8 499.5 466.1 558.3 677.9 132

133 LM103064103 Corporate equities 1359.8 1553.8 1499.9 1712.9 1949.3 1789.9 2317.7 2552.1 133

134 LM103064203 Mutual fund shares 209.8 242.4 248.2 256.0 301.0 269.9 326.4 376.4 134

135 LM103092105 U.S. direct investment abroad: equity 5111.1 5072.3 4969.7 5268.1 6564.3 5215.0 6256.0 6831.8 135

136 FL103092405 Equity in government-sponsored enterprises (2) 0.6 0.7 0.8 0.9 1.2 1.2 1.3 1.4 136

137 FL103094105 Investment in finance company subsidiaries 93.0 108.8 111.3 98.2 110.7 113.2 112.5 109.5 137

138 FL103076005 Insurance, pension and standardized guarantee schemes (3) 332.6 342.8 345.1 351.7 365.6 377.0 392.0 417.3 138

139 FL103096005 Other accounts receivable 4919.2 5397.9 6571.3 7133.6 6349.4 8861.8 10323.8 10296.1 139

140 FL103070005 Trade receivables 2616.6 2720.8 2754.2 2953.0 3116.4 3512.7 4053.2 4082.9 140

141 FL103072005 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 210.0 141

142 FL103093005 Other (miscellaneous assets) 2302.6 2677.1 3817.1 4180.5 3233.0 5349.1 6270.6 6003.1 142

143 FL102100085 Total liabilities and net worth 32037.0 34006.1 36220.4 38245.3 40441.1 42376.1 47374.2 50121.7 143

144 FL104194005 Liabilities 40535.2 44531.3 45185.7 48473.0 54044.6 52728.7 64152.8 74962.2 144

145 FL104122005 Debt securities 4821.3 5142.3 5552.4 5847.1 6174.3 6310.2 6580.5 7198.2 145

146 FL103169100 Open market paper 144.5 182.0 179.0 180.8 206.7 196.5 194.5 132.2 146

147 FL103162000 Municipal securities 525.2 525.0 538.5 559.2 574.5 571.3 586.5 591.2 147

148 FL103163003 Corporate bonds 4151.6 4435.3 4834.9 5107.1 5393.1 5542.4 5799.5 6474.9 148

149 FL104135005 Loans 2758.4 2970.6 3164.5 3098.4 3272.6 3747.5 3961.1 4228.9 149

150 FL104141005 Short term 1851.9 2034.4 2088.1 2061.0 2264.5 2712.8 2871.7 3138.9 150

151 FL103168005 Depository institution loans n.e.c. 765.5 865.5 956.7 951.8 899.6 1003.1 1034.0 1111.6 151

152 FL103169005 Other loans and advances 1086.5 1168.9 1131.5 1109.3 1364.8 1709.8 1837.7 2027.4 152

153 FL104142005 Long term 906.4 936.3 1076.3 1037.3 1008.1 1034.7 1089.4 1090.0 153

154 FL103165005 Mortgages 487.5 470.4 568.5 570.1 536.2 626.5 678.7 723.1 154

155 LM103192305 Foreign direct investment in the U.S.: debt 419.0 465.9 507.9 467.2 471.9 408.2 410.7 366.9 155

156 FL103181005 Equity and investment fund shares 25218.8 28049.8 27391.3 29659.0 34901.7 32356.8 41178.5 50672.8 156

157 LM103164103 Corporate equity 21515.3 23970.0 23113.6 24653.0 28747.5 26543.6 33680.3 41960.8 157

158 FL103192105 Foreign direct investment in the U.S.: equity 3703.4 4079.8 4277.7 5006.0 6154.2 5813.2 7498.2 8712.1 158

159 FL103152025 Insurance, pension and standardized guarantee schemes 671.0 580.2 700.3 682.4 446.0 686.4 484.9 289.1 159

160 FL573074005 Pension fund contributions payable 79.0 76.1 91.3 100.1 119.3 84.7 80.1 70.2 160

161 FL573073005 Claim of pension fund on sponsor 592.0 504.1 609.0 582.3 326.7 601.7 404.8 218.9 161

162 FL103196005 Other accounts payable 7065.7 7788.4 8377.3 9186.1 9250.1 9627.8 11947.8 12573.1 162

163 FL103170005 Trade payables 1931.2 2079.8 2104.1 2288.3 2369.7 2690.4 2920.5 3051.2 163

164 FL103178005 Taxes payable 83.2 95.4 74.2 66.1 277.2 266.7 259.9 273.7 164

165 FL103193005 Miscellaneous liabilities 5051.3 5613.2 6199.0 6831.7 6603.2 6670.8 8767.4 9248.3 165

166 FL102090095 Net worth -8498.1 -10525.2 -8965.3 -10227.7 -13603.5 -10352.6 -16778.7 -24840.5 166

(1) Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) Net equity in reserves of property-casualty insurance companies.

(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(5) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.

(6) Excludes nonproduced nonfinancial assets.
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 Current account

 1 FA796902505 Gross value added 1158.7 1308.7 1391.9 1480.9 1537.2 1666.2 1730.2 1872.1 1

 2 FA796300081 Less: Consumption of fixed capital 181.8 190.3 199.2 210.7 222.4 234.6 251.8 266.8 2

 3 FA796902605 Equals: Net value added 976.9 1118.3 1192.7 1270.2 1314.8 1431.6 1478.5 1605.3 3

 4 FA796025005 Compensation of employees (paid) 641.3 681.1 715.7 734.1 787.6 819.1 852.0 913.8 4

 5 FA796020001 Wages and salaries 545.4 582.1 611.2 625.5 668.5 693.1 727.0 788.2 5

 6 FA796401001 Employers’ social contributions 95.9 99.0 104.5 108.7 119.1 126.0 125.0 125.6 6

 7 FA796240101 Taxes on production and imports less subsidies 57.2 63.3 67.2 74.5 68.3 81.6 71.9 68.9 7

 8 FA796402101 Operating surplus, net 278.4 373.9 409.7 461.6 458.9 530.9 554.5 622.6 8

 9 FA796140005 Net national income/Balance of primary incomes, net 80.5 160.4 107.2 211.3 147.6 214.2 335.6 240.7 9

10 FA796402101 Operating surplus, net 278.4 373.9 409.7 461.6 458.9 530.9 554.5 622.6 10

11 FA796150105 Property income (received) 2061.3 2096.5 2117.5 2204.5 2400.9 2669.7 2840.3 2490.7 11

12 FA796130101 Interest 1588.0 1594.7 1603.3 1691.1 1820.2 2028.2 2231.1 1945.3 12

13 FA796121101 Distributed income of corporations (dividends) 414.3 450.3 463.5 467.5 524.4 680.5 582.4 508.0 13

14 FA793092281 Reinvested earnings on U.S. direct investment abroad 59.1 51.4 50.6 46.0 56.2 -39.0 26.7 37.3 14

15 FA796150005 Less: Uses of property income (paid) 2259.2 2310.0 2420.1 2454.8 2712.1 2986.5 3059.2 2872.5 15

16 FA796130001 Interest 1436.4 1484.3 1567.8 1614.4 1782.3 2038.5 2196.3 2020.0 16

17 FA796120005 Distributed income of corporations 807.2 810.1 838.6 827.2 915.8 930.8 845.4 840.6 17

18 FA796121001 Dividends 753.0 787.2 824.6 780.5 857.4 891.9 806.8 798.0 18

19 FA796122001 Withdrawals from income of quasi-corporations (2) 54.2 22.9 14.0 46.7 58.5 38.8 38.6 42.6 19

20 FA793192281 Reinvested earnings on foreign direct investment 15.6 15.6 13.7 13.2 14.0 17.1 17.6 12.0 20

21 FA796112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA796140005 Net national income/Balance of primary incomes, net 80.5 160.4 107.2 211.3 147.6 214.2 335.6 240.7 22

23 FA796220001 Less: Current taxes on income, wealth, etc. (paid) 99.1 116.3 113.1 114.3 87.4 81.0 98.6 86.0 23

24 FA796403005 Less: Other current transfers (paid) -15.8 16.1 23.9 66.7 21.8 32.9 45.3 39.2 24

25 FA796012095 Equals: Disposable income, net -2.9 28.0 -29.8 30.3 38.5 100.2 191.7 115.4 25

26 FA796012095 Equals: Net saving -2.9 28.0 -29.8 30.3 38.5 100.2 191.7 115.4 26

 Capital account

27 FA796006385 Net saving less capital transfers -2.9 18.0 -29.8 28.5 -64.3 83.4 191.7 115.4 27

28 FA796012095 Net saving -2.9 28.0 -29.8 30.3 38.5 100.2 191.7 115.4 28

29 FA795440005 Less: Capital transfers paid (net) 0.0 10.0 0.0 1.8 102.7 16.9 0.0 0.0 29

30 FA795015085 Capital formation, net 21.2 28.4 42.3 48.6 37.1 45.2 59.6 27.7 30

31 FA795013005 Gross fixed capital formation (nonresidential) 203.0 218.7 241.5 259.3 259.4 279.8 311.4 294.6 31

32 FA796300081 Less: Consumption of fixed capital 181.8 190.3 199.2 210.7 222.4 234.6 251.8 266.8 32

33 FA795000995 Net lending (+) or borrowing (-), capital account (lines 27-30) -24.0 -10.4 -72.0 -20.1 -101.3 38.2 132.0 87.7 33

 Financial account

34 FA795000995 Net lending (+) or borrowing (-) (line 33) -24.0 -10.4 -72.0 -20.1 -101.3 38.2 132.0 87.7 34

35 FA794090005 Net acquisition of financial assets 2957.6 2600.4 1387.3 2248.8 2912.0 1649.2 3357.8 9625.7 35

36 FA713011203 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 FA794000005 Currency and deposits 806.5 216.8 -592.6 -454.3 307.2 -484.7 147.5 1712.5 37

38 FA794022005 Debt securities 1378.8 906.5 602.2 1198.5 868.1 974.4 1132.2 6338.7 38

39 FA793069175 Open market paper 9.7 -43.3 9.0 -87.2 92.0 1.3 -10.9 -52.8 39

40 FA793061105 Treasury securities 567.3 630.9 356.8 764.0 148.4 715.1 719.3 4480.8 40

41 FA793061705 Agency- and GSE-backed securities (3) 415.1 82.0 3.5 344.5 255.9 -19.7 133.2 1117.2 41

42 FA793062005 Municipal securities -26.9 7.7 47.8 29.2 46.9 -47.6 68.6 110.3 42

43 FA793063005 Corporate and foreign bonds 413.5 229.3 185.1 148.0 325.0 325.3 222.0 683.1 43

44 FA794035005 Loans 68.6 783.4 819.1 893.6 1325.2 1204.3 1381.7 781.0 44

45 FA794041005 Short term -15.4 590.7 444.2 394.2 748.1 613.4 798.7 61.4 45

46 FA794042005 Long term 83.9 192.7 374.9 499.4 577.1 590.9 583.0 719.6 46

47 FA793081005 Equity and investment fund shares 140.0 168.8 371.1 177.1 43.6 -189.0 -122.1 -207.5 47

48 FA793064105 Corporate equities -26.4 -4.4 235.3 -169.7 80.5 -136.2 -275.3 -370.4 48

49 FA793064205 Mutual fund shares 128.9 25.9 -13.9 -82.2 -32.1 -103.4 -66.4 -187.6 49

50 FA793034005 Money market fund shares -2.8 17.4 -13.4 100.4 12.6 22.2 65.0 225.3 50

51 FA793092405 Equity in government-sponsored enterprises (3) -0.2 0.3 0.7 1.9 1.4 0.8 -4.0 -7.1 51

52 FA793092105 U.S. direct investment abroad: equity 30.6 28.0 22.7 52.4 49.1 -8.7 51.6 48.6 52

53 FA713164003 Stock in Federal Reserve Banks 0.1 1.1 0.9 1.0 0.9 0.9 -0.6 0.7 53

54 FA793094005 Investment in subsidiaries 9.8 100.4 138.8 273.4 -68.8 35.4 107.5 83.0 54

55 FA793052005 Insurance, pension and standardized guarantee schemes 490.5 268.9 288.4 401.1 270.4 296.9 341.8 398.1 55

56 FA793096005 Other accounts receivable 73.3 256.0 -100.9 32.8 97.6 -152.7 476.9 602.9 56
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57 FA794194005 Net incurrence of liabilities 2799.4 2605.0 1279.9 2234.1 2652.9 1497.6 3276.9 9553.3 57

58 FA794100005 Currency and deposits 1785.8 938.5 237.1 459.7 792.8 494.3 866.5 6595.3 58

59 FA794122005 Debt securities 28.8 120.0 135.9 338.6 362.8 324.0 399.2 903.5 59

60 FA423161705 Agency- and GSE-backed securities (3) 238.3 150.3 220.4 351.7 346.6 246.9 318.6 658.2 60

61 FA793163005 Corporate bonds -128.4 37.4 -44.0 -13.9 52.9 43.2 113.8 252.3 61

62 FA793169175 Commercial paper -81.2 -67.7 -40.5 0.8 -36.8 33.9 -33.2 -7.0 62

63 FA794135005 Loans -212.9 184.9 32.0 19.1 47.1 -29.6 136.7 -237.3 63

64 FA794141005 Short term -226.3 165.3 10.8 50.9 40.8 20.5 153.9 -246.8 64

65 FA794142005 Long term 13.3 19.6 21.1 -31.9 6.3 -50.1 -17.2 9.5 65

66 FA793181005 Equity and investment fund shares 675.1 728.4 524.8 735.0 838.2 427.6 1169.7 1216.9 66

67 FA634090005 Money market fund shares 40.2 15.7 -6.7 -11.1 117.2 189.9 596.0 701.3 67

68 FA793164105 Corporate equity issues 211.5 249.4 228.1 255.5 418.9 198.5 209.7 499.2 68

69 FA653164205 Mutual fund shares 346.9 311.5 98.9 28.8 318.4 -63.4 208.0 -226.8 69

70 FA403192405 Equity in government-sponsored enterprises (3) 0.5 1.2 1.3 2.7 4.2 1.1 -3.7 -6.8 70

71 FA793192105 Foreign direct investment in the U.S.: equity 35.6 14.4 49.2 99.3 32.2 78.1 47.1 16.9 71

72 FA662090003 Equity in noncorporate business 2.9 4.3 5.3 17.3 1.0 9.5 5.2 6.9 72

73 FA793194005 Investment by parent 37.2 130.8 147.9 341.5 -54.5 12.9 108.0 111.6 73

74 FA713164005 Equity in Federal Reserve Banks 0.1 1.1 0.9 1.0 0.9 0.9 -0.6 2.2 74

75 FA503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112.5 75

76 FA583152005 Insurance, pension and standardized guarantee schemes 586.4 431.8 497.8 501.0 630.0 445.1 553.5 680.4 76

77 FA793196005 Other accounts payable -63.6 201.5 -147.6 180.7 -18.0 -163.7 151.2 394.4 77

 Addendum:

78 FA795000005 Net lending (+) or borrowing (-), financial account (lines 35-57) 158.2 -4.7 107.4 14.7 259.1 151.6 80.9 72.3 78

 Other changes in volume account

79 FV798090185 Total other volume changes 119.3 -180.0 222.9 208.9 -51.3 226.9 -418.9 116.5 79

80 FV795013865 Disaster losses 0.0 0.0 0.0 0.0 -1.8 -2.4 0.0 0.0 80

81 FV798090085 Other volume changes -63.0 -185.7 43.4 174.2 -409.9 115.9 -367.8 131.8 81

82 FU797005045 Less: Statistical discrepancy (lines 33-78) (4) -182.2 -5.7 -179.5 -34.7 -360.4 -113.4 51.1 15.4 82

 Revaluation account

83 FR795013865 Nonfinancial assets 28.6 23.0 12.9 14.5 29.0 60.4 40.5 18.2 83

84 FR795013665 Structures (nonresidential) 30.3 23.6 19.5 17.9 33.3 56.5 43.5 13.5 84

85 FR795013265 Equipment -1.4 0.7 -3.8 -3.3 -2.8 4.3 -2.2 3.2 85

86 FR795013765 Intellectual property products -0.2 -1.4 -2.8 -0.2 -1.4 -0.4 -0.8 1.5 86

87 FR794090085 Financial assets 2247.9 1577.4 -1128.3 1230.7 3845.2 -2728.7 6254.3 4500.2 87

88 FR794022005 Debt securities -975.3 643.8 -518.2 -38.6 212.4 -652.0 1289.4 811.1 88

89 FR793092305 U.S. direct investment abroad: debt -4.5 9.0 0.7 -2.5 1.5 -5.8 -0.4 0.0 89

90 FR793064105 Corporate equities 3271.4 981.8 -466.8 1185.5 3405.9 -1832.8 4653.7 3515.7 90

91 FR793064205 Mutual fund shares 694.0 225.5 -124.2 346.3 776.6 -408.3 1065.3 785.0 91

92 FR793092105 U.S. direct investment abroad: equity 53.5 16.1 -167.3 22.7 152.7 -186.7 217.5 103.1 92

93 FR593052025 Insurance, pension, and standardized guarantee schemes -791.2 -298.8 147.5 -282.8 -704.0 357.1 -971.2 -714.8 93

94 FR794190085 Liabilities 3950.9 1610.5 -793.1 1946.9 4425.9 -2836.3 6658.0 4023.7 94

95 FR793192305 Foreign direct investment in the U.S.: debt -0.1 -1.7 0.4 -8.9 6.0 4.2 3.6 -0.9 95

96 FR793164105 Corporate equity issues 1256.9 648.8 -242.6 771.9 1266.6 -980.6 2003.6 422.9 96

97 FR653164205 Mutual fund shares 1622.6 506.1 -352.3 689.6 1965.0 -1165.7 2781.7 2129.8 97

98 FR793192105 Foreign direct investment in the U.S.: equity 81.6 58.5 -35.0 17.7 110.7 -162.6 271.0 241.0 98

99 FR662090003 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 99

100 FR793194005 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100

101 FR583152005 Insurance, pension and standardized guarantee schemes 989.9 398.8 -163.5 476.5 1077.6 -531.6 1598.2 1230.8 101

102 FR798200005 Changes in net worth due to nominal holding gains/losses -1674.5 -10.0 -322.3 -701.7 -551.8 168.0 -363.3 494.7 102

 Changes in balance sheet account

103 FC792090095 Change in net worth (lines 30+33+79+102) -1558.1 -172.0 -129.1 -464.3 -667.3 478.2 -590.6 726.6 103

 Balance sheet account (end of period)

104 FL792000095 Total assets 85652.9 89790.9 89988.1 93676.4 100489.9 99810.0 109547.5 123972.5 104

105 LM795013865 Nonfinancial assets (5) 1687.5 1738.8 1794.1 1857.1 1921.3 2024.4 2124.5 2170.4 105

106 LM795013665 Structures (nonresidential) 1004.8 1021.4 1038.9 1059.7 1096.6 1158.7 1213.2 1235.5 106

107 LM795013265 Equipment 524.0 552.7 582.0 607.2 618.6 641.9 660.2 657.5 107

108 LM795013765 Intellectual property products 158.7 164.7 173.2 190.2 206.1 223.8 251.1 277.4 108
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109 FL794090005 Financial assets 83965.4 88052.0 88194.0 91819.2 98568.6 97785.6 107423.0 121802.1 109

110 FL713011203 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 110

111 FL794000005 Currency and deposits 3880.2 4094.1 3485.0 3041.5 3349.4 2864.2 2998.7 4712.6 111

112 FL794022005 Debt securities 22088.8 23639.2 23698.9 24865.2 25939.3 26235.7 28757.5 35906.3 112

113 FL793069175 Open market paper 656.8 614.6 624.9 538.2 629.1 630.9 619.9 566.7 113

114 FL793061105 Treasury securities 6189.1 7036.0 7309.9 8009.1 8171.1 8840.4 9785.0 14561.0 114

115 FL793061705 Agency- and GSE-backed securities (3) 6261.9 6533.8 6424.5 6709.0 6978.8 6874.2 7236.9 8413.7 115

116 FL793062005 Municipal securities 1875.7 1978.1 2023.3 2016.3 2093.5 1977.8 2105.7 2234.3 116

117 FL793063005 Corporate and foreign bonds 7105.4 7476.7 7316.3 7592.6 8066.8 7912.3 9010.1 10130.6 117

118 FL794035005 Loans 21965.1 22718.8 23355.2 24210.2 25590.9 26765.9 28127.5 28904.5 118

119 FL794041005 Short term 9115.7 9706.3 9976.7 10370.9 11199.8 11816.8 12614.5 12680.6 119

120 FL794042005 Long term 12849.4 13012.5 13378.5 13839.3 14391.0 14949.1 15513.1 16224.0 120

121 FL793081005 Equity and investment fund shares 24837.0 26229.2 25730.2 27421.3 31753.1 29136.3 34501.3 38647.6 121

122 LM793064105 Corporate equities 15544.1 16521.5 16290.0 17305.9 20792.3 18823.3 22890.3 25985.6 122

123 LM793064205 Mutual fund shares 4909.8 5161.1 5023.1 5287.2 6031.7 5520.0 6371.9 6969.2 123

124 FL793034005 Money market fund shares 399.1 416.5 403.0 503.4 516.1 538.2 603.3 828.5 124

125 FL793092405 Equity in government-sponsored enterprises (3) 33.4 33.7 34.4 36.3 37.7 38.5 34.5 27.4 125

126 LM793092105 U.S. direct investment abroad: equity 943.2 987.3 842.7 917.7 1119.5 924.0 1193.1 1344.8 126

127 FL713164003 Stock in Federal Reserve Banks 27.5 28.6 29.5 30.4 31.4 32.3 31.7 32.4 127

128 FL793094005 Investment in subsidiaries 2980.1 3080.5 3107.5 3340.2 3224.5 3259.9 3376.6 3459.6 128

129 FL793052005 Insurance, pension and standardized guarantee schemes 7482.2 7569.9 8075.8 8292.7 7983.3 8737.1 8295.5 8143.7 129

130 FL793096005 Other accounts receivable 3701.1 3789.8 3837.9 3977.2 3941.6 4035.5 4731.4 5476.3 130

131 FL792100005 Total liabilities and net worth 85652.9 89790.9 89988.1 93676.4 100489.9 99810.0 109547.5 123972.5 131

132 FL794194005 Liabilities 86067.8 90377.7 90704.1 94856.6 102337.4 101179.3 111507.4 125205.8 132

133 FL794100005 Currency and deposits 15766.2 16704.7 16941.8 17401.5 18194.4 18688.7 19555.2 26150.5 133

134 FL794122005 Debt securities 12639.2 12731.7 12634.3 12950.0 13276.4 13585.1 13977.3 14874.6 134

135 FL423161705 Agency- and GSE-backed securities (3) 7773.7 7924.0 8144.4 8496.1 8842.7 9089.6 9408.3 10066.5 135

136 FL793163005 Corporate bonds 4324.0 4334.0 4056.6 4019.9 4036.4 4064.3 4171.1 4417.3 136

137 FL793169175 Commercial paper 541.4 473.7 433.2 434.0 397.2 431.2 397.9 390.9 137

138 FL794135005 Loans 4790.4 4981.5 5016.7 5166.9 5220.0 5194.5 5331.1 5092.9 138

139 FL794141005 Short term 4491.0 4656.3 4670.0 4721.0 4761.7 4782.2 4936.2 4689.4 139

140 FL794142005 Long term 299.4 325.2 346.7 445.9 458.2 412.3 394.9 403.6 140

141 FL793181005 Equity and investment fund shares 25339.5 27281.3 27064.8 29098.4 33231.9 31350.5 37585.8 41596.5 141

142 FL634090005 Money market fund shares 2733.4 2749.1 2742.4 2731.3 2848.4 3038.3 3634.3 4335.6 142

143 LM793164105 Corporate equity issues 6457.6 7355.8 7341.3 8368.7 10054.2 9272.1 11485.5 12407.6 143

144 LM653164205 Mutual fund shares 12333.0 13150.6 12897.2 13615.6 15899.0 14669.8 17659.5 19562.6 144

145 FL403192405 Equity in government-sponsored enterprises (3) 41.7 42.9 44.2 46.9 51.1 52.2 48.6 41.8 145

146 LM793192105 Foreign direct investment in the U.S.: equity 730.3 803.2 817.4 794.4 937.2 852.7 1170.8 1428.7 146

147 LM662090003 Equity in noncorporate business 40.8 45.1 50.4 67.7 68.7 78.2 83.5 90.3 147

148 FL793194005 Investment by parent 2975.2 3106.0 3142.5 3443.3 3341.7 3354.7 3471.9 3583.6 148

149 FL713164005 Equity in Federal Reserve Banks 27.5 28.6 29.5 30.4 31.4 32.3 31.7 33.9 149

150 FL503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112.5 150

151 FL583152005 Insurance, pension and standardized guarantee schemes 26177.3 27125.4 27529.6 28623.3 30455.2 30468.6 32861.9 34937.6 151

152 FL793196005 Other accounts payable 1355.2 1553.1 1516.9 1616.4 1959.7 1892.0 2196.3 2553.7 152

153 FL792090095 Net worth -414.8 -586.9 -716.0 -1180.2 -1847.6 -1369.3 -1959.9 -1233.3 153

(1) Financial business includes depository institutions, insurance companies, pension funds, monetary authority, and other financial institutions.

 Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(2) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(3) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(5) Excludes land. Includes corporate and noncorporate financial business.
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 Current account

 1 FA716902505 Gross value added 3.2 4.1 4.1 7.4 14.5 20.6 19.7 19.5 1

 2 FA716330085 Less: Consumption of fixed capital 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 2

 3 FA716902605 Equals: Net value added 2.5 3.3 3.4 6.6 13.7 19.8 18.9 18.7 3

 4 FA716025005 Compensation of employees (paid) 2.2 2.3 2.3 2.5 2.7 2.8 3.0 3.1 4

 5 FA716020001 Wages and salaries 1.9 2.0 2.1 2.2 2.4 2.5 2.6 2.8 5

 6 FA716401001 Employers’ social contributions 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.3 6

 7 FA716240101 Taxes on production and imports less subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA716402101 Operating surplus, net 0.3 1.1 1.0 4.1 11.0 17.0 16.0 15.6 8

 9 FA716140005 Net national income/Balance of primary incomes, net 0.9 7.5 -15.5 2.5 -0.3 -0.6 2.4 1.5 9

10 FA716402101 Operating surplus, net 0.3 1.1 1.0 4.1 11.0 17.0 16.0 15.6 10

11 FA716150105 Property income (received) 90.5 115.9 113.6 111.1 113.6 112.3 102.7 101.5 11

12 FA716130101 Interest 90.5 115.9 113.6 111.1 113.6 112.3 102.7 101.5 12

13 FA716121101 Distributed income of corporations (dividends) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 FA713092281 Reinvested earnings on U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 FA716150005 Less: Uses of property income (paid) 89.9 109.5 130.2 112.6 125.0 129.8 116.3 115.6 15

16 FA716130001 Interest 8.6 11.0 11.3 20.5 43.6 63.5 60.7 28.3 16

17 FA716120005 Distributed income of corporations 81.3 98.6 118.8 92.2 81.3 66.3 55.6 87.3 17

18 FA716121001 Dividends 81.3 98.6 118.8 92.2 81.3 66.3 55.6 87.3 18

19 FA716122001 Withdrawals from income of quasi-corporations (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA713192281 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 FA716112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA716140005 Net national income/Balance of primary incomes, net 0.9 7.5 -15.5 2.5 -0.3 -0.6 2.4 1.5 22

23 FA716220001 Less: Current taxes on income, wealth, etc. (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 FA716403001 Less: Other current transfers (paid) 1.8 1.9 1.9 2.0 2.0 2.0 2.2 2.3 24

25 FA716012005 Equals: Disposable income, net -0.9 5.6 -17.4 0.5 -2.4 -2.6 0.2 -0.8 25

26 FA716012005 Equals: Net saving -0.9 5.6 -17.4 0.5 -2.4 -2.6 0.2 -0.8 26

 Capital account

27 FA716006385 Net saving less capital transfers -0.9 5.6 -17.4 0.5 -2.4 -2.6 0.2 -0.8 27

28 FA716012005 Net saving -0.9 5.6 -17.4 0.5 -2.4 -2.6 0.2 -0.8 28

29 FA715440083 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 FA715015085 Capital formation, net -0.3 -0.2 -0.2 -0.1 -0.1 -0.2 -0.1 -0.1 30

31 FA715013085 Gross fixed capital formation (nonresidential) 0.5 0.6 0.6 0.7 0.7 0.6 0.7 0.7 31

32 FA716330085 Less: Consumption of fixed capital 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 32

33 FA715000995 Net lending (+) or borrowing (-), capital account (lines 27-30) -0.6 5.8 -17.2 0.6 -2.3 -2.5 0.4 -0.7 33

 Financial account

34 FA715000995 Net lending (+) or borrowing (-) (line 33) -0.6 5.8 -17.2 0.6 -2.3 -2.5 0.4 -0.7 34

35 FA714090005 Net acquisition of financial assets 1108.0 475.6 -11.4 -31.1 -2.6 -389.8 116.4 3083.6 35

36 FA713011203 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 FA714000005 Currency and deposits 0.4 1.4 1.9 0.1 0.8 0.5 0.5 0.5 37

38 FA714022005 Debt securities 1113.4 472.9 -10.4 -35.8 -10.9 -379.5 -137.5 3217.0 38

39 FA713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 FA713061103 Treasury securities 550.2 236.8 -15.6 -13.3 -21.7 -243.3 99.1 2554.3 40

41 FA713061705 Agency- and GSE-backed securities (2) 563.2 236.1 5.1 -22.5 10.8 -136.2 -236.6 662.7 41

42 FA714041005 Loans (short term) -9.1 1.2 -0.6 4.5 6.6 -7.9 255.1 -144.7 42

43 FA713064103 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 FA713096105 Other accounts receivable 3.2 0.0 -2.3 0.1 0.9 -3.0 -1.7 10.9 44

45 FA714190005 Net incurrence of liabilities 1107.8 474.5 7.1 -31.1 -2.6 -386.6 116.4 3083.7 45

46 FA714100005 Currency and deposits 900.1 283.2 -197.9 -45.6 157.7 -128.7 83.9 3200.3 46

47 FA712151003 Loans 208.7 193.9 202.6 12.8 -161.3 -259.9 32.6 -120.6 47

48 FA713164005 Equity shares 0.1 1.1 0.9 1.0 0.9 0.9 -0.6 2.2 48

49 FA713193005 Other accounts payable -1.2 -3.7 1.5 0.6 -0.0 1.1 0.5 1.8 49

 Addendum:

50 FA715000005 Net lending (+) or borrowing (-), financial account (lines 35-45) 0.2 1.1 -18.5 0.0 -0.0 -3.2 0.0 -0.0 50
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 Other changes in volume account

51 FV718090185 Total other volume changes 0.8 -4.7 -1.3 -0.6 2.3 -0.7 -0.4 0.6 51

52 FV712010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

53 FV718090085 Other volume changes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 FU717005045 Less: Statistical discrepancy (lines 33-50) (3) -0.8 4.7 1.3 0.6 -2.3 0.7 0.4 -0.6 54

 Revaluation account

55 FR712010095 Nonfinancial assets 0.2 0.2 0.1 0.1 0.2 0.4 0.3 0.1 55

56 FR715013665 Structures (nonresidential) 0.2 0.2 0.2 0.1 0.2 0.4 0.3 0.1 56

57 FR715013265 Equipment -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 57

58 FR715013765 Intellectual property products 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 58

59 FR714022005 Financial assets (debt securities) -267.6 227.3 -67.6 -39.9 13.6 -86.3 166.8 193.4 59

60 FR718200005 Changes in net worth due to nominal holding gains/losses -267.4 227.5 -67.4 -39.8 13.8 -85.8 167.0 193.5 60

 Changes in balance sheet account

61 FC712090095 Change in net worth (lines 30+33+51+60) -267.5 228.4 -86.2 -39.9 13.7 -89.2 166.9 193.4 61

 Balance sheet account (end of period)

62 FL712000095 Total assets 4018.4 4721.2 4642.2 4571.2 4582.3 4106.5 4389.9 7666.9 62

63 LM712010095 Nonfinancial assets (4) 10.2 10.2 10.2 10.2 10.3 10.6 10.7 10.8 63

64 LM715013665 Structures (nonresidential) 7.9 7.9 8.0 8.0 8.1 8.4 8.6 8.6 64

65 LM715013265 Equipment 1.6 1.5 1.4 1.3 1.3 1.2 1.1 1.1 65

66 LM715013765 Intellectual property products 0.8 0.8 0.8 0.9 1.0 1.0 1.0 1.1 66

67 FL714090005 Financial assets 4008.1 4711.0 4632.0 4561.0 4572.0 4095.9 4379.1 7656.1 67

68 FL713011203 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 68

69 FL714000005 Currency and deposits 68.1 66.7 67.0 67.1 69.6 69.7 70.0 71.9 69

70 LM714022005 Debt securities 3899.1 4599.3 4521.3 4445.6 4448.3 3982.6 4011.9 7422.2 70

71 FL713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 71

72 LM713061103 Treasury securities 2341.3 2736.3 2675.9 2640.7 2633.0 2338.0 2540.7 5254.6 72

73 LM713061705 Agency- and GSE-backed securities (2) 1557.8 1863.0 1845.4 1804.9 1815.3 1644.6 1471.1 2167.7 73

74 FL714041005 Loans (short term) 0.4 1.7 1.1 5.6 12.2 4.3 259.4 114.7 74

75 FL713064103 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 75

76 FL713096105 Other accounts receivable 29.4 32.3 31.5 31.7 30.9 28.3 26.9 36.3 76

77 FL712100005 Total liabilities and net worth 4018.4 4721.2 4642.2 4571.2 4582.3 4106.5 4389.9 7666.9 77

78 FL714190005 Liabilities 4038.9 4513.4 4520.5 4489.4 4486.8 4100.2 4216.6 7300.3 78

79 FL714100005 Currency and deposits 3686.8 3970.0 3772.2 3726.6 3884.3 3755.6 3839.5 7039.8 79

80 FL712151003 Loans 315.9 509.8 712.4 725.2 564.0 304.0 336.6 216.1 80

81 FL713164005 Equity shares 27.5 28.6 29.5 30.4 31.4 32.3 31.7 33.9 81

82 FL713193005 Other accounts payable 8.7 5.0 6.5 7.2 7.1 8.2 8.7 10.5 82

83 FL712090095 Net worth -20.6 207.8 121.6 81.8 95.5 6.3 173.3 366.6 83

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

 Current account

 1 FA706902505 Gross value added 285.7 303.8 348.7 375.9 442.2 510.2 509.1 513.1 1

 2 FA706300081 Less: Consumption of fixed capital 33.5 33.4 34.3 36.3 38.7 42.3 48.7 56.0 2

 3 FA706902605 Equals: Net value added 252.2 270.4 314.4 339.6 403.5 467.9 460.4 457.1 3

 4 FA706025005 Compensation of employees (paid) 170.8 169.6 180.3 181.8 183.1 208.3 211.0 226.6 4

 5 FA706020001 Wages and salaries 145.9 144.7 153.9 155.1 155.9 176.8 180.8 196.5 5

 6 FA706401001 Employers’ social contributions 24.9 24.9 26.4 26.7 27.2 31.5 30.2 30.1 6

 7 FA706240101 Taxes on production and imports less subsidies 10.1 10.2 10.1 12.0 12.4 12.5 13.2 17.5 7

 8 FA706402101 Operating surplus, net 71.3 90.6 124.0 145.8 208.0 247.1 236.2 213.0 8

 9 FA706140005 Net national income/Balance of primary incomes, net 132.6 118.6 123.3 141.2 183.5 124.8 83.5 131.6 9

10 FA706402101 Operating surplus, net 71.3 90.6 124.0 145.8 208.0 247.1 236.2 213.0 10

11 FA706150105 Property income (received) 299.8 275.8 281.4 300.4 339.0 360.3 399.5 326.7 11

12 FA706130101 Interest 278.5 257.8 264.5 286.2 322.4 367.8 390.3 315.9 12

13 FA706121101 Distributed income of corporations (dividends) 2.4 2.7 3.0 2.0 2.1 2.7 2.4 1.6 13

14 FA703092281 Reinvested earnings on U.S. direct investment abroad 18.9 15.3 13.9 12.2 14.5 -10.2 6.8 9.2 14

15 FA706150005 Less: Uses of property income (paid) 238.5 247.8 282.1 305.0 363.5 482.6 552.2 408.1 15

16 FA706130001 Interest 148.6 152.2 173.3 198.2 237.6 312.9 364.7 321.0 16

17 FA706120005 Distributed income of corporations 84.0 89.9 104.4 102.7 121.5 164.3 181.9 83.5 17

18 FA706121001 Dividends 83.9 89.8 104.3 102.6 121.4 164.2 181.7 83.3 18

19 FA706122001 Withdrawals from income of quasi-corporations (1) 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 19

20 FA703192281 Reinvested earnings on foreign direct investment 5.9 5.7 4.4 4.1 4.4 5.4 5.6 3.6 20

21 FA706112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA706140005 Net national income/Balance of primary incomes, net 132.6 118.6 123.3 141.2 183.5 124.8 83.5 131.6 22

23 FA706220001 Less: Current taxes on income, wealth, etc. (paid) 24.8 37.4 36.0 34.9 22.8 22.8 31.7 29.1 23

24 FA706403001 Less: Other current transfers (paid) 6.3 6.7 7.3 8.1 8.6 9.2 9.9 11.0 24

25 FA706012005 Equals: Disposable income, net 101.5 74.5 80.0 98.2 152.1 92.8 41.9 91.5 25

26 FA706012005 Equals: Net saving 101.5 74.5 80.0 98.2 152.1 92.8 41.9 91.5 26

 Capital account

27 FA706006385 Net saving less capital transfers 101.5 74.5 80.0 98.2 142.3 92.8 41.9 91.5 27

28 FA706012005 Net saving 101.5 74.5 80.0 98.2 152.1 92.8 41.9 91.5 28

29 FA705440083 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 9.8 0.0 0.0 0.0 29

30 FA705015085 Capital formation, net -5.3 -4.4 2.2 4.6 6.3 11.0 25.9 21.1 30

31 FA705013081 Gross fixed capital formation (nonresidential) 28.1 29.0 36.5 40.9 45.0 53.3 74.6 77.1 31

32 FA706300081 Less: Consumption of fixed capital 33.5 33.4 34.3 36.3 38.7 42.3 48.7 56.0 32

33 FA705000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 106.9 78.9 77.8 93.6 136.0 81.8 16.0 70.4 33

 Financial account

34 FA705000995 Net lending (+) or borrowing (-) (line 33) 106.9 78.9 77.8 93.6 136.0 81.8 16.0 70.4 34

35 FA704090005 Net acquisition of financial assets 969.2 949.0 521.7 731.9 866.7 417.5 765.6 3217.9 35

36 FA704000005 Currency and deposits 730.3 149.5 -389.6 -209.7 195.7 -388.4 -2.9 1466.8 36

37 FA703025005 Vault cash 2.5 2.1 -1.5 1.8 1.2 4.9 1.4 15.8 37

38 FA713113003 Reserves at the Federal Reserve 730.9 148.9 -387.6 -211.0 194.8 -393.1 -7.1 1446.1 38

39 FA403197033 Deposits at Federal Home Loan Banks -3.2 -1.5 -0.5 -0.4 -0.3 -0.2 2.8 4.9 39

40 FA704022005 Debt securities 91.8 181.5 203.0 293.6 133.7 98.7 237.2 1085.8 40

41 FA703069175 Open market paper 0.0 0.0 0.0 0.0 -0.0 0.2 0.5 1.6 41

42 FA703061105 Treasury securities -27.6 192.4 37.9 121.9 -37.3 124.3 126.7 302.9 42

43 FA703061705 Agency- and GSE-backed securities (2) 61.6 5.7 140.5 144.4 168.1 52.4 115.1 694.0 43

44 FA703062005 Municipal securities 54.7 32.7 45.3 47.2 20.4 -40.0 -29.1 72.2 44

45 FA703063005 Corporate and foreign bonds 3.1 -49.3 -20.7 -19.9 -17.5 -38.2 23.9 15.1 45

46 FA704035005 Loans 135.0 594.8 701.1 589.4 521.4 778.9 492.5 487.3 46

47 FA704041005 Short term 144.2 446.4 447.8 293.2 306.8 604.9 281.5 401.9 47

48 FA704042005 Long term -9.2 148.4 253.3 296.2 214.6 174.0 211.0 85.3 48

49 FA703081005 Equity and investment fund shares -1.5 4.6 -6.5 -6.7 14.1 -4.2 4.8 -1.1 49

50 FA703064105 Corporate equities -1.5 0.7 2.0 -6.9 -2.0 2.5 0.8 3.0 50

51 FA703064205 Mutual fund shares -0.8 -0.8 -1.0 -1.9 0.2 -5.5 -1.8 0.1 51

52 FA703092405 Equity in government-sponsored enterprises (2) -1.1 -0.0 -0.9 2.0 1.4 0.5 -4.6 -9.7 52

53 FA763092100 U.S. direct investment abroad: equity 1.8 3.7 -7.5 -0.9 13.6 -2.6 11.0 4.8 53

54 FA713164003 Stock in Federal Reserve Banks 0.1 1.1 0.9 1.0 0.9 0.9 -0.6 0.7 54

55 FA763040005 Insurance, pension and standardized guarantee schemes 5.8 5.7 6.6 5.6 6.4 3.9 6.7 6.1 55

56 FA703093005 Other accounts receivable 7.9 12.9 7.2 59.7 -4.7 -71.4 27.4 173.1 56

57 FA704190005 Net incurrence of liabilities 820.8 995.1 542.0 772.9 738.8 569.6 862.7 3154.7 57
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58 FA704100005 Currency and deposits 897.8 649.1 432.6 499.0 623.4 620.2 773.5 3369.2 58

59 FA703127005 Checkable deposits 188.7 198.8 102.5 106.6 183.6 55.9 182.6 2534.2 59

60 FA703130205 Other deposits 709.1 450.4 330.1 392.5 439.8 564.3 590.9 835.0 60

61 FA704122005 Debt securities -138.7 -47.6 -15.4 -17.6 -65.4 27.0 -40.0 55.7 61

62 FA763163005 Corporate bonds -74.4 -19.4 -9.5 -16.0 -35.0 12.3 -18.7 29.2 62

63 FA703169175 Commercial paper -64.4 -28.2 -5.9 -1.6 -30.3 14.7 -21.4 26.6 63

64 FA704135005 Loans -17.4 91.3 34.9 107.5 112.3 -86.8 -29.7 -199.8 64

65 FA704141005 Short term -17.5 92.0 35.7 102.2 115.3 -82.6 -27.5 -198.3 65

66 FA753192305 Long term (foreign direct investment in the U.S.: debt) 0.1 -0.8 -0.8 5.3 -3.0 -4.3 -2.2 -1.6 66

67 FA703181105 Equity and investment fund shares 65.3 140.7 106.5 173.1 4.8 64.5 94.5 54.5 67

68 FA763164103 Corporate equity issues 0.6 0.4 6.8 -5.0 2.8 -5.2 1.4 1.9 68

69 FA753192103 Foreign direct investment in the U.S.: equity 8.6 4.5 1.2 5.6 10.3 12.8 3.0 7.6 69

70 FA703194005 Investment by parent 56.1 135.9 98.4 172.4 -8.4 56.9 90.1 45.1 70

71 FA703196005 Other accounts payable 23.0 166.4 -8.6 11.6 76.9 -47.6 68.8 -115.5 71

 Addendum:

72 FA705000005 Net lending (+) or borrowing (-), financial account (lines 35-57) 139.2 -51.0 -28.3 -41.7 114.7 -159.7 -101.4 53.7 72

 Other changes in volume account

73 FV708090185 Total other volume changes -102.9 -94.4 -56.6 -155.4 -181.9 -157.3 -244.3 69.6 73

74 FV702010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 74

75 FV708090085 Other volume changes -135.2 35.5 49.5 -20.1 -160.5 84.3 -126.9 86.3 75

76 FU707005045 Less: Statistical discrepancy (lines 33-72) (3) -32.3 129.9 106.1 135.3 21.4 241.6 117.4 16.7 76

 Revaluation account

77 FR702010095 Nonfinancial assets 7.2 5.6 3.1 3.1 7.3 15.2 9.6 3.8 77

78 FR705013665 Structures (nonresidential) 7.8 6.1 5.1 4.3 8.1 14.9 11.3 3.8 78

79 FR705013265 Equipment -0.5 -0.3 -1.5 -1.0 -0.4 0.5 -1.4 -0.2 79

80 FR705013765 Intellectual property products -0.1 -0.3 -0.5 -0.1 -0.4 -0.2 -0.3 0.2 80

81 FR704090085 Financial assets -20.1 45.5 -107.4 -7.5 94.2 -138.4 206.5 91.7 81

82 FR704022005 Debt securities -94.6 75.6 -64.4 -27.2 13.3 -59.1 110.4 57.3 82

83 FR763092305 U.S. direct investment abroad: debt -1.4 2.9 0.2 -0.7 0.4 -1.5 -0.1 0.0 83

84 FR703064105 Corporate equities 29.1 6.5 -10.4 13.2 25.6 -21.1 37.8 9.5 84

85 FR703064205 Mutual fund shares 10.8 2.5 -3.8 4.9 9.1 -6.9 12.0 3.1 85

86 FR763092100 U.S. direct investment abroad: equity 35.9 -41.9 -29.0 2.3 45.8 -49.8 46.4 21.8 86

87 FR704190085 Liabilities 268.1 63.9 -27.3 233.5 226.5 -269.9 452.5 -184.9 87

88 FR753192305 Foreign direct investment in the U.S.: debt -0.0 -0.6 0.1 -2.3 0.9 0.6 0.5 -0.1 88

89 FR763164103 Corporate equity issues 211.9 83.8 -5.0 205.8 199.5 -245.3 377.1 -242.3 89

90 FR753192103 Foreign direct investment in the U.S.: equity 56.2 -19.2 -22.4 30.1 26.1 -25.2 74.8 57.5 90

91 FR703194005 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91

92 FR708200005 Changes in net worth due to nominal holding gains/losses -281.1 -13.5 -76.9 -240.2 -124.1 147.3 -235.9 280.3 92

 Changes in balance sheet account

93 FC702090095 Change in net worth (lines 30+33+73+92) -282.4 -33.3 -53.5 -297.4 -163.7 82.9 -438.2 441.4 93

 Balance sheet account (end of period)

94 FL702000095 Total assets 16157.5 17188.1 17657.4 18367.1 19253.6 19643.7 20544.5 23965.2 94

95 LM702010095 Nonfinancial assets (4) 381.0 384.6 392.6 404.0 420.0 448.9 488.2 516.5 95

96 LM705013665 Structures (nonresidential) 271.9 276.8 280.2 285.5 294.8 312.2 330.6 340.5 96

97 LM705013265 Equipment 85.0 82.6 83.2 84.5 86.7 92.1 101.0 109.6 97

98 LM705013765 Intellectual property products 24.1 25.2 29.1 33.9 38.4 44.6 56.6 66.3 98

99 FL704090005 Financial assets 15776.6 16803.5 17264.8 17963.1 18833.5 19194.8 20056.3 23448.7 99

100 FL704000005 Currency and deposits 2288.1 2437.5 2047.9 1838.3 2034.0 1645.6 1642.7 3109.5 100

101 FL703025005 Vault cash 73.6 75.7 74.2 76.0 77.2 82.0 83.4 99.2 101

102 FL713113003 Reserves at the Federal Reserve 2203.9 2352.8 1965.2 1754.2 1949.0 1556.0 1548.8 2994.9 102

103 FL403197033 Deposits at Federal Home Loan Banks 10.6 9.1 8.5 8.1 7.8 7.6 10.4 15.3 103

104 LM704022005 Debt securities 3479.3 3736.3 3874.9 4141.3 4288.3 4299.9 4647.5 5790.6 104

105 FL703069175 Open market paper 0.0 0.0 0.0 0.0 0.0 0.2 0.7 2.3 105

106 LM703061105 Treasury securities 305.4 502.9 537.2 654.1 616.0 736.7 879.3 1203.3 106

107 LM703061705 Agency- and GSE-backed securities (2) 1970.8 2031.1 2127.8 2253.0 2422.6 2445.5 2634.4 3375.7 107

108 LM703062005 Municipal securities 423.7 468.5 514.2 551.7 578.9 505.8 478.3 522.8 108

109 LM703063005 Corporate and foreign bonds 779.5 733.8 695.7 682.5 670.8 611.8 654.8 686.5 109
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Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

110 FL704035005 Loans 8824.5 9411.2 10104.8 10688.2 11206.1 11980.4 12470.5 12961.0 110

111 FL704041005 Short term 4422.4 4868.7 5316.5 5609.6 5916.4 6528.9 6810.4 7217.1 111

112 FL704042005 Long term 4402.1 4542.6 4788.3 5078.5 5289.6 5451.5 5660.1 5743.9 112

113 FL703065005 Mortgages 4392.0 4531.0 4778.4 5070.6 5282.7 5442.4 5654.9 5741.4 113

114 FL763092305 U.S. direct investment abroad: debt 10.1 11.6 9.9 7.9 6.9 9.1 5.2 2.5 114

115 FL703081005 Equity and investment fund shares 521.9 493.5 443.8 457.5 552.0 470.1 571.1 604.4 115

116 LM703064105 Corporate equities 99.0 106.1 97.7 104.0 127.6 109.1 147.7 160.1 116

117 LM703064205 Mutual fund shares 58.1 59.7 54.9 57.9 67.1 54.7 64.9 68.1 117

118 FL703092405 Equity in government-sponsored enterprises (2) 30.2 30.2 29.2 31.3 32.6 33.1 28.5 18.8 118

119 LM763092100 U.S. direct investment abroad: equity 307.1 269.0 232.5 233.9 293.3 240.9 298.3 324.9 119

120 FL713164003 Stock in Federal Reserve Banks 27.5 28.6 29.5 30.4 31.4 32.3 31.7 32.4 120

121 FL763040005 Insurance, pension and standardized guarantee schemes 143.8 149.6 156.2 161.8 168.2 172.1 178.8 184.8 121

122 FL703093005 Other accounts receivable 519.0 575.3 637.2 676.1 584.9 626.7 545.7 798.5 122

123 FL702100005 Total liabilities and net worth 16157.5 17188.1 17657.4 18367.1 19253.6 19643.7 20544.5 23965.2 123

124 FL704194005 Liabilities 16948.2 18012.2 18534.9 19542.0 20592.1 20899.4 22238.4 25217.7 124

125 FL704100005 Currency and deposits 12015.1 12664.2 13096.8 13595.9 14219.3 14839.5 15612.9 18982.2 125

126 FL703127005 Checkable deposits 1818.7 2017.5 2120.0 2226.6 2410.2 2466.1 2648.7 5182.9 126

127 FL703130205 Other deposits 10196.3 10646.7 10976.8 11369.3 11809.1 12373.3 12964.2 13799.2 127

128 FL704122005 Debt securities 407.3 359.7 344.3 326.7 261.3 288.2 248.2 303.9 128

129 FL763163005 Corporate bonds 227.6 208.2 198.7 182.7 147.7 160.0 141.3 170.5 129

130 FL703169175 Commercial paper 179.7 151.5 145.6 143.9 113.6 128.3 106.9 133.4 130

131 FL704135005 Loans 1051.8 1142.4 1177.4 1282.6 1395.8 1309.6 1280.4 1080.4 131

132 FL704141005 Short term 1019.1 1111.1 1146.8 1249.0 1364.4 1281.8 1254.3 1056.0 132

133 FA753192305 Long term (foreign direct investment in the U.S.: debt) 0.1 -0.8 -0.8 5.3 -3.0 -4.3 -2.2 -1.6 133

134 FL703181105 Equity and investment fund shares 2869.8 3075.2 3154.2 3563.1 3865.1 3659.1 4205.5 4075.2 134

135 LM763164103 Corporate equity issues 846.1 930.2 932.0 1132.8 1335.1 1084.5 1463.0 1222.7 135

136 LM753192103 Foreign direct investment in the U.S.: equity 287.5 272.8 251.7 287.4 323.8 311.4 389.3 454.3 136

137 FL703194005 Investment by parent 1736.2 1872.1 1970.5 2142.9 2206.2 2263.1 2353.2 2398.2 137

138 FL703196005 Other accounts payable 604.3 770.8 762.2 773.8 850.7 803.1 891.4 776.0 138

139 FL702090095 Net worth -790.7 -824.0 -877.5 -1174.9 -1338.6 -1255.7 -1693.9 -1252.5 139

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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2013 2014 2015 2016 2017 2018 2019 2020

 

 Current account

 1 FA526902505 Gross value added 236.4 330.0 390.2 415.7 383.4 414.6 440.8 474.4 1

 2 FA526300081 Less: Consumption of fixed capital 29.3 31.0 32.1 34.0 35.9 37.7 40.5 43.7 2

 3 FA526902605 Equals: Net value added 207.1 299.0 358.2 381.8 347.5 376.9 400.4 430.8 3

 4 FA526025005 Compensation of employees (paid) 133.9 138.4 143.7 143.4 150.4 155.5 162.9 172.8 4

 5 FA526020001 Wages and salaries 113.3 117.4 121.8 121.2 127.3 131.5 139.0 148.6 5

 6 FA526401001 Employers’ social contributions 20.6 20.9 21.9 22.2 23.1 24.0 24.0 24.2 6

 7 FA526240101 Taxes on production and imports less subsidies 23.9 33.8 38.6 40.1 30.7 45.9 34.2 49.9 7

 8 FA526402101 Operating surplus, net 49.3 126.8 176.0 198.3 166.4 175.4 203.3 208.1 8

 9 FA526140005 Net national income/Balance of primary incomes, net 5.8 61.4 69.2 99.6 81.9 100.2 147.1 89.8 9

10 FA526402101 Operating surplus, net 49.3 126.8 176.0 198.3 166.4 175.4 203.3 208.1 10

11 FA526150105 Property income (received) 287.5 288.4 275.7 272.8 291.3 310.5 307.4 254.1 11

12 FA526130101 Interest 255.6 262.2 253.6 256.6 267.9 268.3 274.1 224.3 12

13 FA526121101 Distributed income of corporations (dividends) 16.2 17.2 18.9 17.9 18.2 48.3 28.7 17.6 13

14 FA523092281 Reinvested earnings on U.S. direct investment abroad 15.7 9.1 3.3 -1.6 5.1 -6.1 4.6 12.2 14

15 FA526150005 Less: Uses of property income (paid) 331.0 353.8 382.5 371.5 375.7 385.7 363.6 372.4 15

16 FA526130001 Interest 300.0 334.7 357.5 341.8 343.1 350.5 346.3 354.2 16

17 FA526120005 Distributed income of corporations 23.4 20.1 18.8 22.9 32.5 27.4 16.0 18.6 17

18 FA526121001 Dividends 18.4 15.1 14.4 18.6 28.7 23.6 13.3 16.0 18

19 FA526122001 Withdrawals from income of quasi-corporations (1) 5.1 5.0 4.5 4.3 3.7 3.8 2.7 2.6 19

20 FA523192281 Reinvested earnings on foreign direct investment 7.6 -1.0 6.1 6.8 0.2 7.8 1.3 -0.3 20

21 FA526112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA526140005 Net national income/Balance of primary incomes, net 5.8 61.4 69.2 99.6 81.9 100.2 147.1 89.8 22

23 FA526220001 Less: Current taxes on income, wealth, etc. (paid) 33.1 38.5 42.2 38.3 26.9 28.2 23.6 17.5 23

24 FA526403001 Less: Other current transfers (paid) -68.1 -38.8 -16.4 27.7 -17.6 -8.5 18.2 -5.3 24

25 FA526012005 Equals: Disposable income, net 40.7 61.8 43.4 33.6 72.6 80.5 105.2 77.6 25

26 FA526012005 Equals: Net saving 40.7 61.8 43.4 33.6 72.6 80.5 105.2 77.6 26

 Capital account

27 FA526006385 Net saving less capital transfers 40.7 61.8 43.4 33.6 12.5 63.6 105.2 77.6 27

28 FA526012005 Net saving 40.7 61.8 43.4 33.6 72.6 80.5 105.2 77.6 28

29 FA525440083 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 60.2 16.9 0.0 0.0 29

30 FA525015085 Capital formation, net 4.0 0.7 5.9 5.7 4.3 4.3 6.4 5.9 30

31 FA525013081 Gross fixed capital formation (nonresidential) 33.3 31.7 38.0 39.7 40.2 42.0 46.9 49.6 31

32 FA526300081 Less: Consumption of fixed capital 29.3 31.0 32.1 34.0 35.9 37.7 40.5 43.7 32

33 FA525000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 36.8 61.1 37.5 28.0 8.2 59.3 98.8 71.7 33

 Financial account

34 FA525000995 Net lending (+) or borrowing (-) (line 33) 36.8 61.1 37.5 28.0 8.2 59.3 98.8 71.7 34

35 FA524090005 Net acquisition of financial assets 122.7 175.3 239.1 216.0 180.1 245.8 221.7 497.7 35

36 FA523020005 Currency and deposits -15.2 11.6 7.1 -15.0 21.9 -2.1 21.4 35.5 36

37 FA524022005 Debt securities 134.6 89.5 119.9 187.0 113.7 134.0 151.8 237.4 37

38 FA523069105 Open market paper 11.0 -8.7 -6.7 13.3 -17.5 -7.1 -3.9 4.4 38

39 FA523061105 Treasury securities -7.7 20.6 5.8 31.9 33.2 -20.8 -13.4 8.0 39

40 FA523061705 Agency- and GSE-backed securities (2) -12.7 -13.2 -8.6 15.7 12.3 21.8 4.9 -17.2 40

41 FA523062005 Municipal securities 8.1 -8.2 18.4 10.7 -3.8 -41.4 -5.7 0.0 41

42 FA523063005 Corporate and foreign bonds 135.8 99.1 110.8 115.5 89.5 181.5 169.8 242.1 42

43 FA524035005 Loans 16.9 37.0 42.8 33.4 43.2 66.0 54.5 28.3 43

44 FA524041005 Short term -4.5 12.4 -0.4 -3.5 0.6 -1.1 3.7 3.8 44

45 FA524042005 Long term 21.4 24.6 43.2 36.9 42.6 67.1 50.8 24.6 45

46 FA523081005 Equity and investment fund shares -26.4 -42.9 5.0 -91.4 -57.5 -107.7 -76.2 -81.0 46

47 FA523064105 Corporate equities -8.8 -21.9 25.5 -21.6 3.9 -24.3 -0.5 -21.1 47

48 FA523064205 Mutual fund shares -19.6 -32.8 -30.1 -48.1 -74.7 -88.2 -86.6 -98.4 48

49 FA523034005 Money market fund shares -13.9 2.4 6.2 -20.3 7.6 9.4 6.1 17.8 49

50 FA523092405 Equity in government-sponsored enterprises (2) 0.9 0.1 0.5 0.4 0.4 0.5 0.6 3.1 50

51 FA523092105 U.S. direct investment abroad: equity 15.1 9.3 3.0 -1.7 5.2 -5.1 4.2 17.6 51

52 FA523052005 Insurance, pension and standardized guarantee schemes 27.9 1.8 30.8 55.2 84.9 79.2 29.7 109.8 52

53 FA523096005 Other accounts receivable -15.1 78.2 33.4 46.8 -26.2 76.4 40.6 167.6 53

54 FA524194005 Net incurrence of liabilities 126.9 138.9 170.6 239.4 205.3 146.0 197.5 488.9 54

55 FA673090543 Currency and deposits (funding agreements) -9.0 7.6 2.9 6.7 12.0 3.1 6.2 20.9 55

56 FA524135005 Loans 3.0 6.4 13.7 13.3 4.5 2.2 1.2 22.8 56

57 FA524141005 Short term 8.7 2.5 6.2 9.9 6.2 9.3 1.2 22.8 57

58 FA523192305 Long term (foreign direct investment in the U.S.: debt) -5.7 3.9 7.4 3.4 -1.7 -7.1 0.0 0.0 58
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59 FA523181105 Equity and investment fund shares -6.7 -32.6 -0.5 5.6 -25.1 -12.3 -20.5 -29.3 59

60 FA523164105 Corporate equity issues -16.8 -31.8 -32.0 -25.2 -28.9 -21.5 -24.9 -18.6 60

61 FA523192105 Foreign direct investment in the U.S.: equity 17.7 -1.7 31.9 29.7 0.8 19.1 2.4 -0.8 61

62 FA523194735 Investment by parent -7.6 0.9 -0.3 1.1 3.1 -9.8 2.0 -9.8 62

63 FA523152005 Insurance, pension and standardized guarantee schemes 116.4 112.9 172.8 167.3 144.0 153.3 119.8 258.3 63

64 FA523196005 Other accounts payable 23.2 44.6 -18.3 46.5 69.9 -0.2 90.7 216.1 64

 Addendum:

65 FA525000005 Net lending (+) or borrowing (-), financial account (lines 35-54) -4.2 36.4 68.5 -23.4 -25.2 99.7 24.2 8.8 65

 Other changes in volume account

66 FV528090185 Total other volume changes -45.7 -25.1 31.6 -50.5 -35.9 44.2 -85.4 -77.5 66

67 FV522010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 67

68 FV528090085 Other volume changes -4.7 -0.4 0.6 0.8 -2.5 3.8 -10.7 -14.6 68

69 FU527005045 Less: Statistical discrepancy (lines 33-65) (3) 41.0 24.7 -31.1 51.3 33.4 -40.4 74.6 62.9 69

 Revaluation account

70 FR522010095 Nonfinancial assets 4.2 2.8 1.2 1.7 4.3 8.6 5.9 2.7 70

71 FR525013665 Structures (nonresidential) 4.6 3.4 2.8 2.4 4.9 8.3 6.6 1.9 71

72 FR525013265 Equipment -0.3 -0.1 -0.7 -0.4 -0.1 0.4 -0.5 0.1 72

73 FR525013765 Intellectual property products -0.1 -0.5 -0.9 -0.2 -0.4 -0.1 -0.2 0.7 73

74 FR524090085 Financial assets 184.7 272.4 -264.3 184.2 484.1 -402.1 1001.3 599.0 74

75 FR524022005 Debt securities -206.8 148.4 -168.7 27.2 101.4 -194.6 436.2 248.5 75

76 FR523092305 U.S. direct investment abroad: debt -0.9 1.9 0.2 -0.5 0.3 -1.3 -0.1 0.0 76

77 FR523064105 Corporate equities 145.2 43.4 -26.5 50.9 120.4 -79.2 208.9 131.0 77

78 FR523064205 Mutual fund shares 224.8 76.2 -31.4 91.1 211.8 -84.6 287.5 205.5 78

79 FR523092105 U.S. direct investment abroad: equity 22.4 2.4 -38.0 15.5 50.2 -42.5 68.8 14.0 79

80 FR524190085 Liabilities 387.4 210.7 -52.3 167.6 424.7 -245.9 637.8 369.2 80

81 FR523192305 Foreign direct investment in the U.S.: debt -0.0 -0.4 0.1 -2.3 0.9 0.6 0.5 -0.1 81

82 FR523164105 Corporate equity issues 122.2 59.1 -11.0 66.8 88.8 -62.9 144.5 -22.1 82

83 FR523192105 Foreign direct investment in the U.S.: equity -17.5 31.1 18.4 -9.5 47.2 -63.6 97.6 92.9 83

84 FR523194735 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84

85 FR523152005 Insurance, pension and standardized guarantee schemes 282.7 121.0 -59.8 112.6 287.8 -120.1 395.3 298.5 85

86 FR528200005 Changes in net worth due to nominal holding gains/losses -198.5 64.5 -210.8 18.4 63.7 -147.6 369.3 232.5 86

 Changes in balance sheet account

87 FC522090095 Change in net worth (lines 30+33+66+86) -203.4 101.2 -135.8 1.5 40.4 -39.8 389.2 232.6 87

 Balance sheet account (end of period)

88 FL522000095 Total assets 8863.4 9315.7 9297.7 9738.9 10411.1 10268.0 11505.1 12611.7 88

89 LM522010095 Nonfinancial assets (4) 248.6 253.2 260.4 267.8 275.9 289.2 302.8 312.4 89

90 LM525013665 Structures (nonresidential) 154.5 157.3 161.8 164.2 169.1 177.0 182.9 183.8 90

91 LM525013265 Equipment 45.8 45.8 45.7 45.7 45.6 46.4 47.3 48.3 91

92 LM525013765 Intellectual property products 48.2 50.1 53.0 57.9 61.2 65.7 72.6 80.3 92

93 FL524090005 Financial assets 8614.9 9062.5 9037.3 9471.1 10135.3 9978.8 11202.3 12299.3 93

94 FL523020005 Currency and deposits 86.5 98.1 105.2 101.1 123.0 120.9 142.3 177.8 94

95 LM524022005 Debt securities 4063.6 4301.6 4252.8 4473.3 4688.4 4627.8 5215.8 5701.7 95

96 FL523069105 Open market paper 69.0 60.3 53.6 66.9 49.4 42.3 38.4 42.9 96

97 LM523061105 Treasury securities 274.5 310.5 310.1 334.2 377.9 360.5 368.7 398.2 97

98 LM523061705 Agency- and GSE-backed securities (2) 485.4 504.2 477.4 480.8 501.7 491.8 538.1 511.7 98

99 LM523062005 Municipal securities 497.4 520.2 534.8 535.9 536.7 481.6 500.2 532.1 99

100 LM523063005 Corporate and foreign bonds 2737.3 2906.5 2876.8 3055.4 3222.7 3251.5 3770.3 4216.9 100

101 FL524035005 Loans 539.0 577.9 620.9 653.8 697.3 762.1 816.5 844.8 101

102 FL524041005 Short term 157.9 170.3 169.9 166.4 167.0 166.0 169.7 173.4 102

103 FL524042005 Long term 381.1 407.6 451.0 487.4 530.3 596.1 646.8 671.4 103

104 FL523065005 Mortgages 374.5 398.4 443.4 480.9 524.5 588.6 642.0 669.0 104

105 FL523092305 U.S. direct investment abroad: debt 6.6 9.1 7.5 6.5 5.8 7.5 4.7 2.4 105

106 FL523081005 Equity and investment fund shares 2569.3 2648.4 2557.7 2623.8 2948.8 2634.9 3123.8 3393.4 106

107 LM523064105 Corporate equities 859.3 880.9 879.9 909.2 1033.5 930.1 1138.5 1248.4 107

108 LM523064205 Mutual fund shares 1434.6 1477.9 1416.5 1459.5 1596.6 1423.8 1624.8 1731.8 108

109 FL523034005 Money market fund shares 71.9 74.4 80.5 60.2 67.8 77.2 83.3 101.1 109

110 FL523092405 Equity in government-sponsored enterprises (2) 3.0 3.1 3.5 3.9 4.3 4.8 5.4 8.5 110

111 FL523092105 U.S. direct investment abroad: equity 200.5 212.2 177.2 191.0 246.5 198.9 271.9 303.5 111
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112 FL523052005 Insurance, pension and standardized guarantee schemes 607.4 609.2 640.1 695.3 780.2 859.3 889.4 999.5 112

113 FL523096005 Other accounts receivable 749.1 827.3 860.7 923.8 897.6 974.0 1014.5 1182.2 113

114 FL522100005 Total liabilities and net worth 8863.4 9315.7 9297.7 9738.9 10411.1 10268.0 11505.1 12611.7 114

115 FL524194005 Liabilities 8076.4 8427.5 8545.3 8985.0 9616.9 9513.5 10361.4 11235.4 115

116 FL673090543 Currency and deposits (funding agreements) 53.8 61.5 64.3 71.0 83.0 86.0 92.3 113.2 116

117 FL524135005 Loans 94.7 100.7 114.5 125.5 130.9 133.7 135.4 158.1 117

118 FL524141005 Short term 74.6 77.0 83.3 93.2 99.4 108.7 109.9 132.7 118

119 FL523192305 Long term (foreign direct investment in the U.S.: debt) 20.1 23.7 31.2 32.3 31.5 25.0 25.5 25.4 119

120 FL523181105 Equity and investment fund shares 690.5 748.1 755.0 817.9 928.8 790.0 1011.6 1053.1 120

121 LM523164105 Corporate equity issues 497.6 524.9 481.9 523.5 583.4 498.9 618.6 577.8 121

122 FL523192105 Foreign direct investment in the U.S.: equity 176.9 206.3 256.6 276.8 324.8 280.3 380.3 472.4 122

123 FL523194735 Investment by parent 15.9 16.8 16.5 17.6 20.6 10.8 12.8 2.9 123

124 FL523152005 Insurance, pension and standardized guarantee schemes 6592.3 6826.2 6939.2 7236.6 7668.3 7701.5 8216.7 8773.5 124

125 FL523196005 Other accounts payable 645.1 691.1 672.3 734.1 805.9 802.2 905.5 1137.5 125

126 FL522090095 Net worth 787.0 888.2 752.4 753.9 794.3 754.5 1143.7 1376.3 126

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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 Current account

 1 FA596902505 Gross value added 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA596300081 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA596902605 Equals: Net value added 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FA596025005 Compensation of employees (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA596020001 Wages and salaries 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA596401001 Employers’ social contributions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FA596240101 Taxes on production and imports less subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA596402101 Operating surplus, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA596140005 Net national income/Balance of primary incomes, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 FA596402101 Operating surplus, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 FA596150105 Property income (received) 595.5 608.8 626.4 633.5 651.4 671.8 692.4 688.0 11

12 FA596130101 Interest 453.4 455.6 465.8 466.7 473.6 491.6 501.7 486.6 12

13 FA596121101 Distributed income of corporations (dividends) 142.1 153.2 160.5 166.8 177.8 180.2 190.7 201.3 13

14 FA593092281 Reinvested earnings on U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 FA596150005 Less: Uses of property income (paid) 595.5 608.8 626.4 633.5 651.4 671.8 692.4 688.0 15

16 FA596130001 Interest 453.4 455.6 465.8 466.7 473.6 491.6 501.7 486.6 16

17 FA596120005 Distributed income of corporations 142.1 153.2 160.5 166.8 177.8 180.2 190.7 201.3 17

18 FA596121001 Dividends 142.1 153.2 160.5 166.8 177.8 180.2 190.7 201.3 18

19 FA596122001 Withdrawals from income of quasi-corporations (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA593192281 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 FA596112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA596140005 Net national income/Balance of primary incomes, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA596220001 Less: Current taxes on income, wealth, etc. (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 FA596403105 Plus: Other current transfers received, net 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 24

25 FA596012005 Equals: Disposable income, net 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 25

26 FA596012005 Equals: Net saving 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 26

 Capital account

27 FA596006385 Net saving less capital transfers 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 27

28 FA596012005 Net saving 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 28

29 FA595440083 Less: Capital transfers (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 FA595015085 Capital formation, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 FA595013081 Gross fixed capital formation (nonresidential) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 FA596300081 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 FA595000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 33

 Addenda:

34 FA596403105 Other current transfers received, net (line 24) 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 34

35 FA596403115 Contributions received 1378.3 1423.8 1475.4 1512.7 1569.0 1640.9 1706.3 1712.3 35

36 FA596403125 Claims to pension benefits 788.5 821.2 855.6 886.1 925.1 977.8 1023.0 1034.7 36

37 FA596403133 Actual employer contributions 547.1 557.5 591.9 628.6 689.3 665.1 701.3 732.6 37

38 FA596403143 Imputed employer contributions -65.2 -64.3 -90.0 -114.0 -161.4 -115.7 -125.0 -149.6 38

39 FA596403153 Actual household contributions 329.8 352.8 380.2 400.6 428.7 460.6 480.5 486.7 39

40 FA596403013 Less: pension service charges for defined benefit (DB) plans 23.1 24.8 26.5 29.1 31.4 32.1 33.8 35.0 40

41 FA596403163 Household pension contribution supplements 595.5 608.8 626.4 633.5 651.4 671.8 692.4 688.0 41

42 FA596403023 Less: pension service charge for defined contribution (DC) plans 5.7 6.1 6.5 6.8 7.5 8.6 9.1 10.3 42

43 FA596403033 Less: benefit payments and withdrawals 1049.5 1107.6 1160.5 1176.5 1247.4 1328.5 1403.4 1474.4 43

44 FA596403043 Less: net change in benefit entitlements from DB plans 201.7 195.3 173.6 169.4 153.9 154.3 152.6 129.8 44

45 FA596403053 Less: net change in assets from current transaction for DC plans 127.1 121.0 141.3 166.8 167.8 158.1 150.3 108.1 45

 Financial account

46 FA595000995 Net lending (+) or borrowing (-) (line 33) 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 46

47 FA594090005 Net acquisition of financial assets 470.2 319.1 325.1 333.6 485.9 292.2 433.9 422.2 47

48 FA594000005 Currency and deposits 9.8 6.9 -0.5 -1.0 -2.3 -12.3 1.3 3.4 48

49 FA593020005 Currency and transferable deposits 3.7 5.8 3.6 -0.8 -5.6 -6.9 12.2 12.9 49

50 FA593030005 Time and savings deposits 6.1 1.2 -4.1 -0.2 3.3 -5.4 -10.9 -9.5 50

51 FA594022005 Debt securities 239.3 237.1 85.4 156.2 114.9 448.4 25.9 292.3 51

52 FA593069105 Open market paper 10.2 0.5 -3.6 11.2 1.6 -7.2 -8.8 -2.4 52

53 FA593061105 Treasury securities 122.9 113.4 56.3 170.0 33.7 388.5 141.6 235.5 53

54 FA593061705 Agency- and GSE-backed securities (2) -5.4 20.0 -11.7 10.9 34.0 25.3 34.2 58.0 54

55 FA593062045 Municipal securities 0.9 -0.2 0.1 0.2 0.7 0.7 0.0 -0.0 55

56 FA593063005 Corporate and foreign bonds 110.7 103.4 44.3 -36.2 44.9 41.1 -141.1 1.1 56
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57 FA594035005 Loans -3.9 3.4 -2.5 7.7 148.6 -149.8 15.2 0.5 57

58 FA594041005 Short term 0.8 0.1 -0.3 0.9 151.8 -152.3 16.8 6.4 58

59 FA593065005 Long term (mortgages) -4.7 3.4 -2.2 6.8 -3.2 2.6 -1.6 -6.0 59

60 FA593081005 Equity and investment fund shares -256.7 -213.5 7.8 -229.2 -68.6 -196.4 -159.4 -185.3 60

61 FA593064105 Corporate equities -424.5 -271.5 -6.6 -212.6 -108.5 -183.9 -201.9 -142.7 61

62 FA593064205 Mutual fund shares 149.4 59.6 17.2 -32.1 42.3 -9.7 22.0 -89.3 62

63 FA593034005 Money market fund shares 18.5 -1.6 -2.8 15.5 -2.4 -2.8 20.5 46.7 63

64 FA593052025 Insurance, pension and standardized guarantee schemes 451.8 256.4 246.9 336.2 175.0 209.8 301.4 278.2 64

65 FA593093005 Other accounts receivable 29.9 28.8 -12.0 63.7 118.2 -7.7 249.4 33.1 65

66 FA594190005 Net incurrence of liabilities (pension entitlements) 469.9 318.9 325.0 333.7 486.0 291.9 433.7 422.0 66

 Addendum:

67 FA595000005 Net lending (+) or borrowing (-), financial account (lines 47-66) 0.3 0.2 0.1 -0.1 -0.2 0.3 0.2 0.1 67

 Other changes in volume account

68 FV598090185 Total other volume changes -0.0 0.0 0.0 -0.0 -0.0 -0.0 -20.0 28.3 68

69 FV592010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 69

70 FV598090085 Other volume changes -0.3 -0.2 -0.1 0.1 0.2 -0.3 -20.2 28.2 70

71 FU597005045 Less: Statistical discrepancy (lines 33-67) (3) -0.3 -0.2 -0.1 0.1 0.2 -0.3 -0.2 -0.1 71

 Revaluation account

72 FR592010095 Nonfinancial assets 0.2 0.1 0.1 0.1 0.2 0.3 0.2 0.1 72

73 FR595013665 Structures (nonresidential) 0.2 0.2 0.1 0.1 0.2 0.3 0.2 0.1 73

74 FR595013265 Equipment -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 74

75 FR595013765 Intellectual property products 0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 -0.0 75

76 FR594090085 Financial assets 685.8 267.6 -89.0 394.2 815.8 -396.2 1169.1 880.1 76

77 FR594022005 Debt securities -107.0 47.6 -56.9 12.6 23.7 -94.9 170.3 111.9 77

78 FR593064105 Corporate equities 1125.6 372.0 -90.6 414.1 940.3 -341.5 1204.2 906.7 78

79 FR593064205 Mutual fund shares 458.4 146.8 -89.0 250.3 555.8 -316.9 765.9 576.3 79

80 FR593052025 Insurance, pension, and standardized guarantee schemes -791.2 -298.8 147.5 -282.8 -704.0 357.1 -971.2 -714.8 80

81 FR594190005 Liabilities (pension entitlements) 707.2 277.8 -103.7 363.9 789.8 -411.5 1202.8 932.2 81

82 FR598200005 Changes in net worth due to nominal holding gains/losses -21.1 -10.1 14.8 30.3 26.2 15.7 -33.5 -52.0 82

 Changes in balance sheet account

83 FC592090095 Change in net worth (lines 30+33+68+82) -21.1 -10.1 14.8 30.3 26.2 15.7 -53.5 -23.7 83

 Balance sheet account (end of period)

84 FL592000095 Total assets 19410.7 20114.9 20421.0 21247.6 22673.9 22669.8 24494.4 25989.6 84

85 LM592010095 Nonfinancial assets (4) 8.1 8.0 8.0 8.2 8.5 8.6 8.6 8.6 85

86 LM595013665 Structures (nonresidential) 6.7 6.7 6.7 6.7 6.8 7.1 7.2 7.2 86

87 LM595013265 Equipment 0.5 0.4 0.4 0.4 0.5 0.4 0.4 0.4 87

88 LM595013765 Intellectual property products 0.9 0.8 0.9 1.1 1.2 1.1 1.0 1.0 88

89 FL594090005 Financial assets 19402.6 20106.9 20413.0 21239.4 22665.4 22661.3 24485.8 25981.0 89

90 FL594000005 Currency and deposits 87.4 94.3 93.9 92.8 90.5 78.2 66.8 70.2 90

91 FL593020005 Currency and transferable deposits 50.0 55.8 59.4 58.6 53.0 46.1 47.8 60.7 91

92 FL593030005 Time and savings deposits 37.4 38.6 34.5 34.3 37.5 32.1 19.0 9.5 92

93 LM594022005 Debt securities 3479.2 3763.8 3792.3 3961.2 4099.8 4453.3 4714.1 5118.2 93

94 FL593069105 Open market paper 87.2 87.7 84.0 95.3 96.9 89.7 45.9 43.5 94

95 LM593061105 Treasury securities 1998.5 2127.5 2176.1 2337.3 2370.6 2779.3 2935.4 3206.7 95

96 LM593061705 Agency- and GSE-backed securities (2) 263.7 289.6 268.0 277.2 312.3 355.7 402.2 457.2 96

97 LM593062045 Municipal securities 2.4 2.4 2.5 2.7 3.4 4.1 0.1 0.0 97

98 LM593063005 Corporate and foreign bonds 1127.4 1256.7 1261.7 1248.7 1316.6 1224.5 1330.5 1410.8 98

99 FL594035005 Loans 35.6 39.0 36.5 44.2 192.8 43.1 54.3 54.8 99

100 FL594041005 Short term 6.8 6.8 6.5 7.5 159.3 7.0 22.7 29.2 100

101 FL593065005 Long term (mortgages) 28.8 32.2 30.0 36.8 33.6 36.1 31.6 25.6 101

102 FL593081005 Equity and investment fund shares 8336.9 8642.2 8470.3 8905.5 10333.0 9478.3 10792.2 12039.9 102

103 LM593064105 Corporate equities 4707.5 4808.0 4710.8 4912.2 5744.0 5218.6 5909.5 6623.5 103

104 LM593064205 Mutual fund shares 3417.1 3623.5 3551.7 3769.8 4368.0 4041.5 4682.3 5169.3 104

105 FL593034005 Money market fund shares 212.3 210.7 207.9 223.4 221.0 218.2 200.4 247.1 105

106 FL593052025 Insurance, pension and standardized guarantee schemes 6691.0 6766.1 7230.6 7382.7 6977.9 7644.7 7162.3 6890.4 106
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S.64.a Pension Funds

Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

107 FL593093005 Other accounts receivable 772.6 801.4 789.4 853.1 971.3 963.6 1696.1 1807.6 107

108 FL592000095 Total liabilities and net worth 19410.7 20114.9 20421.0 21247.6 22673.9 22669.8 24494.4 25989.6 108

109 FL594190005 Liabilities (pension entitlements) 19584.9 20299.2 20590.4 21386.8 22786.9 22767.1 24645.2 26164.1 109

110 FL592090095 Net worth -174.2 -184.3 -169.5 -139.1 -113.0 -97.3 -150.8 -174.5 110

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

 Current account

 1 FA856902505 Gross value added 633.4 670.8 648.8 681.9 697.1 720.8 760.6 865.1 1

 2 FA856300085 Less: Consumption of fixed capital 118.3 125.2 132.1 139.7 147.0 153.8 161.8 166.4 2

 3 FA856902605 Equals: Net value added 515.1 545.6 516.7 542.2 550.2 567.0 598.8 698.7 3

 4 FA856025005 Compensation of employees (paid) 334.5 370.8 389.4 406.4 451.5 452.5 475.1 511.3 4

 5 FA856020005 Wages and salaries 284.3 318.0 333.5 347.0 383.0 382.3 404.7 440.4 5

 6 FA856401005 Employers’ social contributions 50.1 52.9 55.9 59.5 68.5 70.1 70.4 71.0 6

 7 FA856240105 Taxes on production and imports less subsidies 23.2 19.3 18.6 22.4 25.2 23.2 24.6 1.5 7

 8 FA856402105 Operating surplus, net 157.5 155.5 108.7 113.3 73.5 91.4 99.1 185.9 8

 9 FA856140005 Net national income/Balance of primary incomes, net -58.8 -27.1 -69.8 -32.1 -117.4 -10.3 102.6 17.8 9

10 FA856402105 Operating surplus, net 157.5 155.5 108.7 113.3 73.5 91.4 99.1 185.9 10

11 FA856150105 Property income (received) 788.0 807.5 820.4 886.7 1005.6 1214.9 1338.2 1120.4 11

12 FA856130105 Interest 510.0 503.2 505.8 570.5 642.7 788.3 962.3 816.9 12

13 FA856121105 Distributed income of corporations (dividends) 253.6 277.2 281.1 280.8 326.3 449.3 360.6 287.5 13

14 FA853092285 Reinvested earnings on U.S. direct investment abroad 24.5 27.0 33.5 35.4 36.6 -22.7 15.3 16.0 14

15 FA856150005 Less: Uses of property income (paid) 1004.3 990.1 998.9 1032.1 1196.5 1316.5 1334.7 1288.4 15

16 FA856130005 Interest 525.8 530.9 559.8 587.2 684.4 820.1 922.9 829.8 16

17 FA856120005 Distributed income of corporations 476.4 448.3 435.9 442.6 502.8 492.6 401.1 449.9 17

18 FA856121005 Dividends 427.3 430.5 426.5 400.3 448.1 457.6 365.4 410.1 18

19 FA856122005 Withdrawals from income of quasi-corporations (2) 49.1 17.8 9.4 42.3 54.6 34.9 35.7 39.8 19

20 FA853192285 Reinvested earnings on foreign direct investment 2.1 10.9 3.2 2.3 9.4 3.9 10.7 8.7 20

21 FA856112005 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA856140005 Net national income/Balance of primary incomes, net -58.8 -27.1 -69.8 -32.1 -117.4 -10.3 102.6 17.8 22

23 FA856220005 Less: Current taxes on income, wealth, etc. (paid) 41.2 40.5 34.9 41.1 37.7 30.0 43.3 39.5 23

24 FA856403005 Less: Other current transfers (paid) 44.2 46.4 31.1 28.9 28.8 30.2 15.1 31.3 24

25 FA856012005 Equals: Disposable income, net -144.2 -113.9 -135.7 -102.0 -183.9 -70.5 44.3 -52.9 25

26 FA856012005 Equals: Net saving -144.2 -113.9 -135.7 -102.0 -183.9 -70.5 44.3 -52.9 26

 Capital account

27 FA856006385 Net saving less capital transfers -144.2 -123.9 -135.7 -103.8 -216.6 -70.5 44.3 -52.9 27

28 FA856012005 Net saving -144.2 -113.9 -135.7 -102.0 -183.9 -70.5 44.3 -52.9 28

29 FA855440085 Less: Capital transfers paid (net) 0.0 10.0 0.0 1.8 32.8 0.0 0.0 0.0 29

30 FA855015085 Capital formation, net 22.8 32.2 34.3 38.4 26.6 30.0 27.4 0.8 30

31 FA855013085 Gross fixed capital formation (nonresidential) 141.1 157.4 166.4 178.1 173.5 183.9 189.2 167.2 31

32 FA856300085 Less: Consumption of fixed capital 118.3 125.2 132.1 139.7 147.0 153.8 161.8 166.4 32

33 FA855000995 Net lending (+) or borrowing (-), capital account (lines 27-30) -167.0 -156.1 -170.0 -142.3 -243.2 -100.5 16.9 -53.8 33

 Financial account

34 FA855000995 Net lending (+) or borrowing (-) (line 33) -167.0 -156.1 -170.0 -142.3 -243.2 -100.5 16.9 -53.8 34

35 FA854090005 Net acquisition of financial assets 287.4 681.4 312.9 998.3 1382.0 1083.6 1820.2 2404.3 35

36 FA854000005 Currency and deposits 81.2 47.3 -211.4 -228.7 91.1 -82.5 127.1 206.3 36

37 FA854022005 Debt securities -200.3 -74.5 204.4 597.5 516.6 672.8 854.8 1506.3 37

38 FA853069175 Open market paper -11.6 -35.1 19.3 -111.7 107.9 15.4 1.3 -56.4 38

39 FA853061105 Treasury securities -70.6 67.7 272.3 453.5 140.5 466.5 365.3 1380.1 39

40 FA853061705 Agency- and GSE-backed securities (3) -191.5 -166.6 -121.8 196.0 30.7 17.0 215.5 -280.3 40

41 FA853062005 Municipal securities -90.7 -16.6 -16.1 -28.9 29.6 33.1 103.3 38.1 41

42 FA853063005 Corporate and foreign bonds 164.0 76.1 50.8 88.6 208.0 140.9 169.4 424.8 42

43 FA854035005 Loans -70.4 146.9 78.2 258.6 605.4 517.1 564.3 409.6 43

44 FA854041005 Short term -146.8 130.6 -2.3 99.1 282.3 169.9 241.5 -206.0 44

45 FA814042005 Long term 76.4 16.3 80.5 159.4 323.2 347.2 322.8 615.7 45

46 FA813081005 Equity and investment fund shares 424.6 420.6 364.8 504.5 155.6 119.3 108.7 59.9 46

47 FA813064105 Corporate equities 408.4 288.3 214.5 71.5 187.1 69.4 -73.6 -209.6 47

48 FA503034005 Money market fund shares -7.4 16.6 -16.8 105.2 7.4 15.6 38.5 160.8 48

49 FA813092405 Equity in government-sponsored enterprises (3) 0.1 0.3 1.2 -0.5 -0.4 -0.2 -0.0 -0.5 49

50 FA603092105 U.S. direct investment aboard: equity 13.7 15.0 27.2 54.9 30.2 -1.0 36.5 26.2 50

51 FA793094005 Investment in subsidiaries 9.8 100.4 138.8 273.4 -68.8 35.4 107.5 83.0 51

52 FA733040005 Insurance, pension and standardized guarantee schemes 5.1 5.0 4.1 4.0 4.0 4.0 4.0 4.0 52

53 FA853096005 Other accounts receivable 47.3 136.0 -127.1 -137.5 9.2 -147.0 161.2 218.2 53

54 FA854194005 Net incurrence of liabilities 264.7 672.7 227.2 918.5 1212.2 869.2 1662.2 2394.5 54

55 FA403197033 Currency and deposits -3.2 -1.5 -0.5 -0.4 -0.3 -0.2 2.8 4.9 55
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Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

56 FA814122005 Debt securities 167.5 167.6 151.2 356.2 428.2 297.0 439.2 847.8 56

57 FA423161705 Agency- and GSE-backed securities (3) 238.3 150.3 220.4 351.7 346.6 246.9 318.6 658.2 57

58 FA813163005 Corporate bonds -54.0 56.8 -34.6 2.1 88.0 30.9 132.4 223.1 58

59 FA813169105 Commercial paper -16.8 -39.4 -34.6 2.4 -6.4 19.2 -11.8 -33.6 59

60 FA814135005 Loans -407.2 -106.7 -219.2 -114.6 91.5 315.0 132.6 60.3 60

61 FA814141005 Short term -426.2 -123.1 -233.7 -74.0 80.5 353.7 147.6 49.3 61

62 FA814142005 Long term 19.0 16.4 14.5 -40.6 11.0 -38.7 -15.0 11.0 62

63 FA123165005 Mortgages 19.9 9.3 4.0 1.0 5.6 -15.8 1.9 1.1 63

64 FA803192305 Foreign direct investment in the U.S.: debt -0.9 7.1 10.5 -41.6 5.4 -22.9 -16.9 9.9 64

65 FA853181005 Equity and investment fund shares 616.3 619.1 417.9 555.3 857.6 374.4 1096.4 1189.5 65

66 FA634090005 Money market fund shares 40.2 15.7 -6.7 -11.1 117.2 189.9 596.0 701.3 66

67 FA813164105 Corporate equity issues 227.7 280.8 253.3 285.6 445.0 225.3 233.2 515.9 67

68 FA653164205 Mutual fund shares 346.9 311.5 98.9 28.8 318.4 -63.4 208.0 -226.8 68

69 FA403192405 Equity in government-sponsored enterprises (3) 0.5 1.2 1.3 2.7 4.2 1.1 -3.7 -6.8 69

70 FA803192105 Foreign direct investment in the U.S.: equity 9.3 11.6 16.1 64.0 21.1 46.2 41.6 10.2 70

71 FA662090003 Equity in noncorporate business 2.9 4.3 5.3 17.3 1.0 9.5 5.2 6.9 71

72 FA803194005 Investment by parent -11.3 -6.0 49.8 168.0 -49.2 -34.1 16.0 76.4 72

73 FA503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112.5 73

74 FA813196005 Other accounts payable -108.7 -5.9 -122.3 122.0 -164.7 -117.0 -8.8 292.0 74

 Addendum:

75 FA855000005 Net lending (+) or borrowing (-), financial account (lines 35-54) 250.9 307.8 421.9 575.8 597.3 439.5 433.6 734.7 75

 Other changes in volume account

76 FV858090185 Total other volume changes 266.1 -48.0 259.6 376.2 168.6 317.1 -86.2 105.5 76

77 FV812010095 Disaster losses 0.0 0.0 0.0 0.0 -1.8 -2.4 0.0 0.0 77

78 FV858090085 Other volume changes -151.9 -511.9 -332.4 -341.9 -670.0 -220.5 -502.9 -682.9 78

79 FU857005045 Less: Statistical discrepancy (lines 33-75) (4) -417.9 -463.9 -591.9 -718.1 -840.5 -540.0 -416.7 -788.5 79

 Revaluation account

80 FR812010095 Nonfinancial assets 16.8 14.2 8.3 9.4 16.9 35.9 24.5 11.4 80

81 FR815013665 Structures (nonresidential) 17.4 13.7 11.3 11.0 19.9 32.5 25.0 7.6 81

82 FR815013265 Equipment -0.6 1.1 -1.6 -1.8 -2.3 3.4 -0.3 3.3 82

83 FR815013765 Intellectual property products 0.0 -0.5 -1.4 0.2 -0.6 -0.0 -0.3 0.5 83

84 FR854090085 Financial assets 1665.0 764.7 -600.0 699.7 2437.5 -1705.8 3710.5 2736.0 84

85 FR854022005 Debt securities -299.4 145.0 -160.6 -11.2 60.4 -217.2 405.8 200.1 85

86 FR603092305 U.S. direct investment aboard: debt -2.2 4.2 0.4 -1.3 0.8 -3.0 -0.2 0.0 86

87 FR813064105 Corporate equities 1971.4 560.0 -339.4 707.4 2319.6 -1391.1 3202.8 2468.5 87

88 FR603092105 U.S. direct investment aboard: equity -4.7 55.6 -100.3 4.8 56.7 -94.4 102.2 67.4 88

89 FR814190085 Liabilities 2587.4 1065.2 -599.2 1140.3 2990.2 -1931.8 4348.0 2917.1 89

90 FR803192305 Foreign direct investment in the U.S.: debt -0.0 -0.6 0.2 -4.2 4.2 3.0 2.6 -0.6 90

91 FR813164105 Corporate equity issues 922.8 506.0 -226.5 499.3 978.4 -672.4 1482.0 687.3 91

92 FR653164205 Mutual fund shares 1622.6 506.1 -352.3 689.6 1965.0 -1165.7 2781.7 2129.8 92

93 FR803192105 Foreign direct investment in the U.S.: equity 42.9 46.6 -31.0 -2.8 37.3 -73.8 98.6 90.7 93

94 FR662090003 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 94

95 FR803194005 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 95

96 FR858200005 Changes in net worth due to nominal holding gains/losses -905.5 -286.2 7.6 -431.2 -535.8 261.9 -613.0 -169.7 96

 Changes in balance sheet account

97 FC852090095 Change in net worth (lines 30+33+76+96) -783.7 -458.2 131.4 -158.9 -583.8 508.6 -654.9 -117.1 97

 Balance sheet account (end of period)

98 FL852000095 Total assets 37202.9 38450.9 37969.9 39751.5 43569.0 43122.0 48613.6 53739.1 98

99 LM812010095 Nonfinancial assets (5) 1039.7 1082.9 1122.9 1166.9 1206.6 1267.2 1314.1 1322.2 99

100 LM815013665 Structures (nonresidential) 563.7 572.7 582.2 595.3 617.7 654.0 684.0 695.4 100

101 LM815013265 Equipment 391.2 422.4 451.3 475.2 484.6 501.8 510.4 498.1 101

102 LM815013765 Intellectual property products 84.7 87.8 89.4 96.4 104.3 111.5 119.8 128.7 102

103 FL854090005 Financial assets 36163.2 37368.0 36846.9 38584.5 42362.4 41854.7 47299.5 52416.9 103

104 FL854000005 Currency and deposits 1350.1 1397.4 1171.0 942.3 1032.3 949.8 1077.0 1283.2 104
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2013 2014 2015 2016 2017 2018 2019 2020

 

105 FL854022005 Debt securities 7167.6 7238.1 7257.5 7843.7 8414.5 8872.0 10168.3 11873.7 105

106 FL853069175 Open market paper 500.6 466.6 487.2 376.0 482.8 498.7 534.9 478.0 106

107 FL853061105 Treasury securities 1269.4 1358.8 1610.6 2042.8 2173.5 2625.9 3060.8 4498.3 107

108 FL853061705 Agency- and GSE-backed securities (3) 1984.2 1845.8 1706.0 1893.1 1927.0 1936.7 2191.1 1901.5 108

109 FL853062005 Municipal securities 952.2 987.1 971.7 926.0 974.5 986.4 1127.1 1179.4 109

110 FL853063005 Corporate and foreign bonds 2461.2 2579.8 2482.0 2605.9 2856.7 2824.4 3254.5 3816.5 110

111 FL854035005 Loans 12565.6 12689.0 12591.9 12818.4 13482.4 13976.0 14526.9 14929.3 111

112 FL854041005 Short term 4528.2 4658.8 4482.7 4581.8 4944.9 5110.7 5352.2 5146.2 112

113 FL814042005 Long term 8037.4 8030.2 8109.3 8236.6 8537.5 8865.3 9174.6 9783.1 113

114 FL813065005 Mortgages 8023.0 8008.5 8090.9 8219.9 8523.9 8847.0 9163.7 9777.5 114

115 FL603092305 U.S. direct investment abroad: debt 14.4 21.8 18.4 16.7 13.7 18.3 10.9 5.6 115

116 FL813081005 Equity and investment fund shares 13408.9 14445.1 14258.4 15434.5 17919.3 16553.0 20014.2 22610.0 116

117 LM813064105 Corporate equities 9878.2 10726.5 10601.6 11380.5 13887.2 12565.5 15694.6 17953.6 117

118 FL503034005 Money market fund shares 114.9 131.4 114.6 219.8 227.2 242.8 319.5 480.3 118

119 FL813092405 Equity in government-sponsored enterprises (3) 0.2 0.5 1.6 1.1 0.7 0.6 0.6 0.1 119

120 FL603092105 U.S. direct investment aboard: equity 435.6 506.1 433.0 492.8 579.7 484.2 622.9 716.5 120

121 FL793094005 Investment in subsidiaries 2980.1 3080.5 3107.5 3340.2 3224.5 3259.9 3376.6 3459.6 121

122 FL733040005 Insurance, pension and standardized guarantee schemes 39.9 45.0 49.0 53.0 57.0 61.0 65.0 69.0 122

123 FL853096005 Other accounts receivable 1631.1 1553.5 1519.1 1492.6 1456.9 1442.9 1448.2 1651.8 123

124 FL852100005 Total liabilities and net worth 37202.9 38450.9 37969.9 39751.5 43569.0 43122.0 48613.6 53739.1 124

125 FL854194005 Liabilities 37419.2 39125.5 38513.0 40453.4 44854.7 43899.1 50045.8 55288.4 125

126 FL403197033 Currency and deposits 10.6 9.1 8.5 8.1 7.8 7.6 10.4 15.3 126

127 FL814122005 Debt securities 12231.9 12372.0 12290.0 12623.4 13015.1 13296.8 13729.1 14570.7 127

128 FL423161705 Agency- and GSE-backed securities (3) 7773.7 7924.0 8144.4 8496.1 8842.7 9089.6 9408.3 10066.5 128

129 FL813163005 Corporate bonds 4096.5 4125.8 3857.9 3837.2 3888.7 3904.3 4029.8 4246.8 129

130 FL813169105 Commercial paper 361.7 322.3 287.6 290.1 283.6 302.9 291.0 257.4 130

131 FL814135005 Loans 3328.0 3228.6 3012.4 3033.7 3129.3 3447.2 3578.6 3638.3 131

132 FL814141005 Short term 3081.4 2958.3 2727.5 2653.5 2734.0 3087.7 3235.3 3284.6 132

133 FL814142005 Long term 246.6 270.3 284.9 380.1 395.3 359.5 343.3 353.7 133

134 FL123165005 Mortgages 214.3 231.4 235.4 236.5 242.0 226.2 224.3 225.4 134

135 FL803192305 Foreign direct investment in the U.S.: debt 32.4 38.9 49.5 143.7 153.2 133.3 119.0 128.3 135

136 FL853181005 Equity and investment fund shares 21751.7 23429.5 23126.2 24687.0 28406.6 26869.1 32337.0 36434.3 136

137 FL634090005 Money market fund shares 2733.4 2749.1 2742.4 2731.3 2848.4 3038.3 3634.3 4335.6 137

138 LM813164105 Corporate equity issues 5113.9 5900.7 5927.5 6712.4 8135.8 7688.6 9403.9 10607.1 138

139 LM653164205 Mutual fund shares 12333.0 13150.6 12897.2 13615.6 15899.0 14669.8 17659.5 19562.6 139

140 FL403192405 Equity in government-sponsored enterprises (3) 41.7 42.9 44.2 46.9 51.1 52.2 48.6 41.8 140

141 FL803192105 Foreign direct investment in the U.S.: equity 265.9 324.0 309.1 230.2 288.6 261.0 401.2 502.1 141

142 LM662090003 Equity in noncorporate business 40.8 45.1 50.4 67.7 68.7 78.2 83.5 90.3 142

143 FL803194005 Investment by parent 1223.0 1217.0 1155.4 1282.7 1114.9 1080.8 1106.0 1182.4 143

144 FL503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112.5 144

145 FL813196005 Other accounts payable 97.1 86.3 75.8 101.4 296.0 278.4 390.7 629.7 145

146 FL852090095 Net worth -216.3 -674.5 -543.1 -702.0 -1285.8 -777.2 -1432.1 -1549.2 146

(1) Includes the following sectors as defined in the Financial Accounts of the United States: Money Market Funds; Mutual Funds; Closed-End Funds; Exchange-Traded Funds;

 Government-Sponsored Enterprises; Agency- and GSE-Backed Mortgage Pools; Issuers of Asset-Backed Securities; Finance Companies; REITs; Security Brokers and Dealers;

 Holding Companies; Other Financial Business.

(2) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(3) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.

(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(5) Excludes land. Includes corporate and noncorporate financial business.
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Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

 Current account

 1 FA316902505 Gross value added 711.0 723.1 737.3 749.0 768.1 795.7 817.9 855.1 1

 2 FA316300001 Less: Consumption of fixed capital 265.9 270.2 271.5 270.7 275.9 284.9 293.3 303.5 2

 3 FA316902605 Equals: Net value added 445.1 452.9 465.8 478.3 492.2 510.8 524.6 551.5 3

 4 FA316025001 Compensation of employees (paid) 455.1 460.0 469.0 479.7 491.2 511.4 527.2 552.2 4

 5 FA316020001 Wages and salaries 320.4 324.0 330.5 336.4 344.1 357.2 365.6 381.8 5

 6 FA316401005 Employers’ social contributions 134.7 135.9 138.6 143.4 147.1 154.2 161.6 170.3 6

 7 FA316402101 Operating surplus, net -10.1 -7.1 -3.2 -1.5 1.0 -0.6 -2.6 -0.6 7

 8 FA316140005 Net national income/Balance of primary incomes, net -116.4 -194.8 -187.8 -239.7 -263.9 -318.2 -373.8 -1017.8 8

 9 FA316402101 Operating surplus, net -10.1 -7.1 -3.2 -1.5 1.0 -0.6 -2.6 -0.6 9

10 FA316240001 Taxes on production and imports, receivable 125.5 136.3 140.3 136.5 131.6 163.6 174.7 158.0 10

11 FA316402015 Subsidies (paid) -59.2 -57.6 -56.7 -61.2 -59.3 -62.7 -72.4 -760.8 11

12 FA316150195 Property income (received) 243.7 172.7 161.1 140.8 139.6 123.3 109.9 119.8 12

13 FA316130101 Interest 23.5 24.8 28.0 29.7 29.8 36.4 37.7 23.5 13

14 FA316121105 Distributed income of corporations (dividends) 210.9 137.6 126.4 106.3 103.7 79.0 63.8 90.8 14

15 FA316112101 Rents on land and natural resources 9.3 10.3 6.7 4.8 6.1 7.8 8.4 5.5 15

16 FA316130095 Less: Uses of property income (interest paid) 416.3 439.1 429.3 454.3 476.8 541.8 583.5 534.2 16

17 FA316140005 Net national income/Balance of primary incomes, net -116.4 -194.8 -187.8 -239.7 -263.9 -318.2 -373.8 -1017.8 17

18 FA316220001 Plus: Current taxes on income, wealth, etc. (received) 1619.4 1763.8 1883.8 1883.9 1883.9 1851.0 1952.9 1899.8 18

19 FA316601001 Plus: Social benefits (received) 1091.8 1140.1 1190.8 1224.4 1284.2 1345.4 1406.2 1444.6 19

20 FA316404001 Less: Social contributions (paid) 1840.4 1900.6 1990.3 2045.2 2120.6 2219.2 2348.4 3406.1 20

21 FA316403105 Plus: Other current transfers (received) 69.3 87.3 76.2 79.7 85.0 86.3 72.5 62.9 21

22 FA316403001 Less: Other current transfers (paid) 497.9 540.9 577.9 605.0 606.5 634.0 659.5 931.9 22

23 FA316012005 Equals: Disposable income, net 325.7 354.9 394.9 298.1 262.0 111.3 49.9 -1948.5 23

24 FA316901001 Less: Final consumption expenditures 957.5 952.2 955.1 965.7 982.7 1039.4 1097.4 1161.4 24

25 FA316006085 Equals: Net saving -631.8 -597.4 -560.2 -667.6 -720.7 -928.1 -1047.5 -3110.0 25

 Capital account

26 FA316006385 Net saving less capital transfers -696.0 -662.2 -620.2 -728.1 -538.8 -987.6 -1125.2 -3182.6 26

27 FA316006085 Net saving -631.8 -597.4 -560.2 -667.6 -720.7 -928.1 -1047.5 -3110.0 27

28 FA315440005 Less: Capital transfers paid (net) 64.3 64.9 59.9 60.5 -181.9 59.6 77.8 72.6 28

29 FA315050905 Capital formation, net 1.3 -9.0 -35.8 -10.8 1.9 13.9 21.7 33.9 29

 Gross fixed capital formation (acquisition of

30 FA315019001 produced nonfinancial assets) 269.6 263.8 266.6 268.8 280.0 299.6 317.5 340.3 30

31 FA316300001 Less: Consumption of fixed capital 265.9 270.2 271.5 270.7 275.9 284.9 293.3 303.5 31

32 FA315420003 Acquisition of nonproduced nonfinancial assets -2.5 -2.6 -30.9 -8.9 -2.2 -0.8 -2.6 -2.9 32

33 FA315000995 Net lending (+) or borrowing (-), capital account (lines 26-29) -697.3 -653.2 -584.4 -717.3 -540.7 -1001.5 -1146.9 -3216.5 33

 Financial account

34 FA315000995 Net lending (+) or borrowing (-) (line 33) -697.3 -653.2 -584.4 -717.3 -540.7 -1001.5 -1146.9 -3216.5 34

35 FA314090005 Net acquisition of financial assets 364.6 32.0 236.9 206.2 156.1 322.1 84.2 1701.9 35

36 FA313011105 Monetary gold and SDRs 0.0 0.0 0.0 0.7 0.1 0.2 0.2 0.1 36

37 FA313011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 FA313011303 SDR holdings 0.0 0.0 0.0 0.7 0.1 0.2 0.2 0.1 38

39 FA314000005 Currency and deposits 65.8 57.2 103.5 67.0 -171.6 178.5 5.7 1333.8 39

40 FA313011505 Official foreign currencies 0.2 0.1 0.1 0.0 0.0 0.0 0.1 0.0 40

41 FA313011405 Reserve position in IMF (net) -3.4 -3.9 -6.5 1.5 -1.8 4.8 4.3 8.8 41

42 FA313020005 Currency and transferable deposits 69.6 60.3 110.4 65.7 -170.2 173.5 1.0 1326.3 42

43 FA313030003 Time and savings deposits -0.5 0.7 -0.5 -0.2 0.4 0.1 0.3 -1.3 43

44 FA313091105 Nonofficial foreign currencies -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

45 FA314022005 Debt securities -0.1 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 45

46 FA313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 FA313063763 Corporate and foreign bonds -0.1 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 47

48 FA314023005 Loans 271.8 -26.4 106.1 97.9 95.8 99.1 93.5 253.2 48

49 FA314041005 Short term 267.8 -28.2 106.8 94.7 95.6 95.7 92.9 249.9 49

50 FA313066220 Consumer credit 113.3 110.7 103.4 99.6 96.3 90.7 83.0 61.7 50

51 FA313069005 Other loans and advances 154.6 -138.9 3.4 -4.9 -0.7 5.0 9.9 188.1 51

52 FA313065005 Long term (mortgages) 4.0 1.7 -0.7 3.2 0.2 3.4 0.6 3.3 52

53 FA313081105 Equity and investment fund shares -4.6 0.4 2.1 1.7 1.4 5.3 1.4 115.8 53

54 FA313064105 Corporate equities -4.8 -1.6 -0.0 -0.1 -0.1 4.0 0.0 0.0 54

55 FA313092803 Equity in international organizations 2.0 2.1 2.1 1.7 1.5 1.3 1.4 1.8 55

56 FA313092403 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 FA313094303 Equity investment under Public-Private Inv. Program -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

58 FA313094205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 114.0 58
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59 FA313096005 Other accounts receivable 31.6 0.9 25.3 38.9 230.4 39.0 -16.5 -1.1 59

60 FA313070000 Trade receivables 3.3 -5.2 12.7 3.8 0.1 10.4 -1.9 11.3 60

61 FA313078000 Taxes receivable 24.7 -4.1 0.4 23.9 221.0 15.0 -20.3 -18.6 61

62 FA313093003 Other (miscellaneous assets) 3.7 10.2 12.2 11.2 9.4 13.7 5.6 6.1 62

63 FA314190005 Net incurrence of liabilities 873.0 764.8 755.7 883.2 635.9 1297.1 1196.6 4947.6 63

64 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 64

65 FA314100005 Currency and deposits -0.4 -0.3 -0.6 -0.6 -0.3 -0.3 -0.5 -0.0 65

66 FA314122005 Debt securities 857.3 735.9 724.6 842.7 447.0 1409.8 1174.9 4581.2 66

67 FA313161105 Treasury securities 857.7 736.0 724.4 842.8 447.0 1411.2 1176.6 4582.2 67

68 FA313161705 Federal agency securities -0.4 -0.1 0.2 -0.1 -0.1 -1.5 -1.7 -1.0 68

69 FA314123005 Loans 0.0 0.0 0.0 0.0 151.7 -151.7 0.0 0.0 69

70 FA313152005 Insurance, pension and standardized guarantee schemes 0.7 29.2 13.6 6.0 16.8 -36.3 -17.6 -11.2 70

71 FA313140003 Insurance reserves 0.2 0.8 -0.1 0.1 -0.2 0.2 0.9 0.2 71

72 FA313195105 Retiree Health Care Funds 12.2 10.4 7.4 12.9 9.6 13.9 14.4 8.2 72

73 FA343073045 Claims of pension fund on sponsor -11.7 18.1 6.4 -7.0 7.4 -50.4 -32.9 -19.6 73

74 FA313196005 Other accounts payable 15.4 -0.1 18.1 35.2 20.7 75.6 39.9 377.7 74

75 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 75

76 FA313170005 Trade payables 14.1 -3.1 14.5 29.4 17.5 74.0 36.0 16.8 76

77 FA313172003 PPP subsidies payable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 364.7 77

78 FA313193005 Other (miscellaneous liabilities) 1.3 3.0 3.5 5.8 3.2 1.6 3.9 -3.8 78

 Addendum:

79 FA315000005 Net lending (+) or borrowing (-), financial account (lines 35-63) -508.4 -732.8 -518.8 -677.0 -479.8 -975.1 -1112.4 -3245.8 79

 Other changes in volume account

80 FV318090185 Total other volume changes 180.6 -51.4 122.5 64.9 -139.9 22.7 185.4 21.1 80

81 FV312010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 81

82 FV318090085 Other volume changes -8.3 28.2 56.9 24.6 -200.8 -3.7 150.8 50.3 82

83 FU317005045 Less: Statistical discrepancy (lines 33-79) (3) -188.9 79.6 -65.6 -40.3 -60.9 -26.4 -34.5 29.3 83

 Revaluation account

84 FR312010095 Nonfinancial assets 74.2 50.3 7.1 56.1 87.3 110.1 58.1 93.3 84

85 FR315015605 Structures 45.7 31.2 11.7 47.7 55.7 66.4 38.4 35.6 85

86 FR315013265 Equipment 5.6 9.0 -2.9 0.8 6.3 14.1 5.2 17.6 86

87 FR315013765 Intellectual property products 23.0 10.1 -1.7 7.6 25.3 29.6 14.5 40.0 87

88 FR318080005 Financial assets 0.1 -5.0 -3.3 -2.1 4.0 -5.7 -0.4 3.5 88

89 FR313011105 Monetary gold and SDRs 0.1 -3.3 -2.3 -1.5 2.9 -1.2 -0.3 2.1 89

90 FR314000005 Currency and deposits 0.0 -1.7 -1.1 -0.6 1.1 -0.4 -0.1 1.4 90

91 FR313064105 Corporate equities 0.0 0.0 0.0 0.0 0.0 -4.0 0.0 0.0 91

92 FR313094303 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 92

93 FR313111303 Liabilities (SDR allocations) 0.1 -3.2 -2.2 -1.5 2.8 -1.2 -0.3 2.0 93

94 FR318200005 Changes in net worth due to nominal holding gains/losses 74.2 48.5 6.0 55.5 88.5 105.6 57.9 94.8 94

 Changes in balance sheet account

95 FC312090095 Change in net worth (lines 29+33+80+94) -441.2 -665.2 -491.7 -607.8 -590.2 -859.3 -881.9 -3066.8 95

 Balance sheet account (end of period)

96 FL312000095 Total assets 5098.3 5149.8 5405.6 5658.1 5696.4 6151.6 6487.9 8399.1 96

97 LM312010095 Nonfinancial assets (4) 3204.8 3248.7 3251.0 3305.2 3396.7 3521.3 3603.7 3734.0 97

98 LM315015605 Structures 1483.1 1504.7 1506.8 1544.2 1587.5 1642.8 1674.0 1706.8 98

99 LM315013265 Equipment 736.2 746.8 745.5 748.3 761.2 787.6 812.7 851.3 99

100 LM315013765 Intellectual property products 985.4 997.2 998.8 1012.8 1048.0 1090.9 1117.1 1175.9 100

101 FL314090005 Financial assets 1893.6 1901.1 2154.6 2352.9 2299.8 2630.3 2884.2 4665.2 101

102 FL313011105 Monetary gold and SDRs 55.2 51.9 49.7 48.9 51.9 50.8 50.8 52.9 102

103 FL313011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 FL313011303 SDR holdings 55.2 51.9 49.7 48.9 51.9 50.8 50.7 52.9 104
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105 FL314000005 Currency and deposits 221.8 277.2 379.7 446.1 275.6 453.7 459.2 1794.4 105

106 FL313011505 Official foreign currencies 23.6 20.7 19.5 19.3 21.2 20.8 20.6 22.1 106

107 FL313011405 Reserve position in IMF (net) 31.0 25.3 17.7 18.7 17.9 22.3 26.4 36.6 107

108 FL313020005 Currency and transferable deposits 163.0 226.3 338.1 404.0 232.0 405.9 407.2 1732.1 108

109 FL313030003 Time and savings deposits 1.5 2.2 1.8 1.5 1.9 2.0 2.3 1.0 109

110 FL313091105 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 110

111 FL314022005 Debt securities 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 111

112 FL313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112

113 FL313063763 Corporate and foreign bonds 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 113

114 FL314023005 Loans 1208.1 1181.6 1287.7 1385.6 1481.4 1580.5 1674.0 1927.2 114

115 FL314041005 Short term 1092.6 1064.5 1171.2 1265.9 1361.5 1457.3 1550.1 1800.0 115

116 FL313066220 Consumer credit 735.5 846.2 949.7 1049.3 1145.6 1236.3 1319.2 1381.0 116

117 FL313069005 Other loans and advances 357.1 218.2 221.6 216.6 216.0 221.0 230.9 419.0 117

118 FL313065005 Long term (mortgages) 115.5 117.2 116.5 119.7 119.8 123.2 123.8 127.2 118

119 FL313081105 Equity and investment fund shares 92.4 92.8 94.9 96.6 98.0 99.3 100.6 216.5 119

120 LM313064105 Corporate equities 35.1 33.4 33.4 33.3 33.2 33.2 33.2 33.2 120

121 FL313092803 Equity in international organizations 57.4 59.4 61.5 63.3 64.8 66.1 67.5 69.3 121

122 FL313092403 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 LM313094303 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 123

124 FL313094205 Equity investment in Federal Reserves facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 114.0 124

125 FL313096005 Other accounts receivable 315.5 296.9 342.1 375.2 392.4 445.6 599.2 673.6 125

126 FL313070000 Trade receivables 53.6 48.4 61.2 64.9 65.0 75.4 73.5 84.9 126

127 FL313078000 Taxes receivable 178.5 154.8 175.1 193.2 201.1 230.2 380.0 437.0 127

128 FL313093003 Other (miscellaneous assets) 83.4 93.6 105.8 117.0 126.4 140.0 145.7 151.8 128

129 FL312000095 Total liabilities and net worth 5098.3 5149.8 5405.6 5658.1 5696.4 6151.6 6487.9 8399.1 129

130 FL314190005 Liabilities 16091.1 16807.7 17555.2 18415.5 19044.0 20358.4 21576.7 26554.6 130

131 FL313111303 SDR allocations 54.4 51.2 48.9 47.5 50.3 49.1 48.8 50.9 131

132 FL314100005 Currency and deposits 25.6 25.3 24.8 24.2 24.0 23.7 23.2 23.1 132

133 FL314122005 Debt securities 13705.1 14441.1 15165.6 16008.3 16455.3 17865.0 19039.9 23621.1 133

134 FL313161105 Treasury securities 13680.6 14416.7 15141.1 15983.8 16430.9 17842.1 19018.7 23600.9 134

135 FL313161705 Federal agency securities 24.5 24.4 24.6 24.5 24.4 22.9 21.2 20.2 135

136 FL314123005 Loans 0.0 0.0 0.0 0.0 151.7 0.0 0.0 0.0 136

137 FL313152005 Insurance, pension and standardized guarantee schemes 2048.6 2036.4 2048.1 2039.0 2049.2 2033.3 2041.5 2054.6 137

138 FL313140003 Insurance reserves 50.5 51.3 51.1 51.3 51.1 51.3 52.2 52.4 138

139 FL313195105 Retiree Health Care Funds 246.9 257.3 264.7 277.6 287.1 301.0 315.4 323.6 139

140 FL343073045 Claims of pension fund on sponsor 1751.2 1727.8 1732.3 1710.1 1711.0 1681.0 1673.9 1678.6 140

141 FL313196005 Other accounts payable 257.4 253.8 267.7 296.5 313.5 387.3 423.3 805.0 141

142 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 142

143 FL313170005 Trade payables 249.9 246.8 261.4 290.7 308.2 382.3 418.3 435.1 143

144 FL313172003 PPP subsidies payable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 364.7 144

145 FL313193013 Other (miscellaneous liabilities) 2.3 1.8 1.2 0.6 0.1 -0.2 -0.2 0.0 145

146 FL312090095 Net worth -10992.7 -11657.9 -12149.6 -12757.3 -13347.5 -14206.8 -15088.8 -18155.5 146

(1) The federal government sector excludes federal government employee retirement funds.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land and nonproduced nonfinancial assets.
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 Current account

 1 FA216902505 Gross value added 1526.1 1573.5 1626.7 1661.1 1704.3 1777.4 1831.6 1860.5 1

 2 FA216300001 Less: Consumption of fixed capital 238.8 246.3 251.4 256.4 266.2 280.5 293.7 302.8 2

 3 FA216902605 Equals: Net value added 1287.4 1327.1 1375.3 1404.7 1438.1 1496.9 1537.9 1557.6 3

 4 FA216025001 Compensation of employees (paid) 1293.2 1331.0 1377.3 1407.7 1445.7 1504.9 1548.6 1574.5 4

 5 FA216020001 Wages and salaries 887.6 912.9 945.3 971.7 1003.9 1044.2 1084.7 1112.7 5

 6 FA216401005 Employers’ social contributions 405.6 418.1 432.0 436.0 441.9 460.7 464.0 461.8 6

 7 FA216402101 Operating surplus, net -5.9 -3.9 -2.0 -3.0 -7.6 -8.0 -10.7 -16.8 7

 8 FA216140005 Net national income/Balance of primary incomes, net 868.3 921.1 945.0 972.0 1023.9 1097.8 1136.9 1160.6 8

 9 FA216402101 Operating surplus, net -5.9 -3.9 -2.0 -3.0 -7.6 -8.0 -10.7 -16.8 9

10 FA216240001 Taxes on production and imports, receivable 1063.2 1104.5 1134.8 1175.1 1234.7 1298.1 1357.6 1376.6 10

11 FA216402015 Subsidies (paid) -0.5 -0.5 -0.5 -0.5 -0.6 -0.6 -0.6 -0.6 11

12 FA216150195 Property income (received) 81.6 83.2 81.5 83.1 88.2 94.3 96.8 96.4 12

13 FA216130101 Interest 64.3 65.3 64.9 66.6 71.4 77.4 78.2 76.8 13

14 FA216121101 Distributed income of corporations (dividends) 4.7 5.3 5.4 5.7 5.9 6.1 6.6 6.3 14

15 FA216112101 Rents on land and natural resources 12.5 12.7 11.2 10.8 10.9 10.9 12.0 13.3 15

16 FA216130095 Less: Uses of property income (interest paid) 270.2 262.3 268.7 282.8 290.8 286.1 306.2 295.0 16

17 FA216140005 Net national income/Balance of primary incomes, net 868.3 921.1 945.0 972.0 1023.9 1097.8 1136.9 1160.6 17

18 FA216220005 Plus: Current taxes on income, wealth, etc. (received) 427.4 437.4 463.6 463.6 490.0 520.3 569.4 587.0 18

19 FA216601001 Plus: Social benefits (received) 17.7 18.7 19.2 20.0 19.8 20.4 20.4 19.9 19

20 FA216404001 Less: Social contributions (paid) 564.4 617.5 665.3 693.1 708.8 729.7 758.7 808.3 20

21 FA216403105 Plus: Other current transfers (received) 560.9 616.5 675.5 690.2 692.4 725.4 759.6 1033.5 21

22 FA216403001 Less: Other current transfers (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA216012005 Equals: Disposable income, net 1309.8 1376.1 1438.1 1452.7 1517.4 1634.2 1727.5 1992.7 23

24 FA216901001 Less: Final consumption expenditures 1575.1 1614.1 1653.8 1697.4 1748.0 1830.0 1876.5 1916.5 24

25 FA216006095 Equals: Net saving -265.3 -237.9 -215.8 -244.7 -230.6 -195.8 -149.0 76.1 25

 Capital account

26 FA216006395 Net saving less capital transfers -193.7 -167.3 -146.0 -172.1 -158.6 -123.6 -75.1 158.8 26

27 FA216006095 Net saving -265.3 -237.9 -215.8 -244.7 -230.6 -195.8 -149.0 76.1 27

28 FA215440005 Less: Capital transfers paid (net) -71.6 -70.6 -69.8 -72.6 -72.0 -72.2 -73.9 -82.7 28

29 FA215050905 Capital formation, net 102.4 103.0 116.4 127.6 136.4 138.7 145.6 155.7 29

 Gross fixed capital formation (acquisition of

30 FA215019001 produced nonfinancial assets) 330.8 338.8 356.0 371.1 388.3 403.0 422.5 441.2 30

31 FA216300001 Less: Consumption of fixed capital 238.8 246.3 251.4 256.4 266.2 280.5 293.7 302.8 31

32 FA215420003 Acquisition of nonproduced nonfinancial assets 10.4 10.6 11.9 12.9 14.3 16.1 16.8 17.3 32

33 FA215000995 Net lending (+) or borrowing (-), capital account (lines 26-29) -296.0 -270.3 -262.4 -299.7 -295.0 -262.2 -220.7 3.1 33

 Financial account

34 FA215000995 Net lending (+) or borrowing (-) (line 33) -296.0 -270.3 -262.4 -299.7 -295.0 -262.2 -220.7 3.1 34

35 FA214090005 Net acquisition of financial assets 133.9 -46.3 76.7 171.2 85.7 68.9 33.0 378.0 35

36 FA214000005 Currency and deposits 27.3 28.4 5.5 14.1 11.7 0.3 25.9 81.2 36

37 FA213020005 Currency and transferable deposits 6.9 16.8 -8.6 5.9 -2.5 -7.6 6.2 90.8 37

38 FA213030000 Time and savings deposits 20.4 11.6 14.2 8.2 14.1 7.9 19.8 -9.6 38

39 FA214022005 Debt securities 86.6 -73.3 26.7 105.7 56.1 8.9 48.2 224.8 39

40 FA213069103 Open market paper -3.9 -10.7 -3.3 0.5 4.2 0.5 -0.6 1.7 40

41 FA213061105 Treasury securities 43.1 -4.2 16.8 72.3 17.7 -12.4 51.4 291.3 41

42 FA213061703 Agency- and GSE-backed securities (2) 23.3 -49.2 -4.0 25.8 26.0 5.6 2.4 -71.4 42

43 FA213062003 Municipal securities 1.8 -1.5 0.5 1.0 0.5 0.5 -0.9 1.5 43

44 FA213063003 Corporate and foreign bonds 22.3 -7.7 16.7 6.1 7.7 14.6 -4.1 1.8 44

45 FA214035005 Loans 23.6 -4.5 17.4 19.3 23.3 3.2 -3.3 24.6 45

46 FA212051003 Short term 9.8 -0.6 7.8 7.4 8.9 1.1 -1.3 19.3 46

47 FA213065005 Long term (mortgages) 13.8 -3.9 9.6 11.9 14.4 2.1 -1.9 5.3 47

48 FA213081005 Equity and investment fund shares -3.0 -3.9 -2.4 3.2 -1.9 -4.3 4.6 5.7 48

49 FA213034003 Money market fund shares -0.8 -1.7 -0.2 5.4 0.3 -2.1 6.8 7.9 49

50 FA213064103 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 50

51 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 51

52 FA213096005 Other accounts receivable -0.6 7.0 29.5 28.9 -3.5 60.8 -42.5 41.5 52

53 FA213070003 Trade receivables 9.4 11.0 0.6 17.5 6.2 22.8 19.1 14.3 53

54 FA213078005 Taxes receivable 3.3 7.1 5.6 10.9 5.3 19.7 9.6 13.1 54

55 FA213093003 Other (miscellaneous assets) -13.3 -11.2 23.3 0.6 -15.0 18.3 -71.2 14.1 55
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56 FA214190005 Net incurrence of liabilities 376.9 172.3 225.9 318.0 251.4 231.7 293.9 389.6 56

57 FA213162005 Debt securities (municipals) -52.0 -35.4 12.0 29.9 -1.9 -40.5 -2.9 88.6 57

58 FA213162400 Short term -11.2 -6.4 -5.9 -2.7 4.8 2.9 6.8 1.9 58

59 FA213162200 Other -40.8 -29.0 17.9 32.6 -6.7 -43.4 -9.7 86.8 59

60 FA213169203 Loans (short term) 44.7 -43.0 0.1 0.3 0.5 1.1 1.0 1.0 60

61 FA223073045 Insurance, pension and standardized guarantee schemes 345.4 210.8 172.7 244.8 207.9 223.9 247.2 251.6 61

 (claim of pension funds on sponsor)

62 FA213170003 Other accounts payable (trade payables) 38.8 39.8 41.2 43.1 45.0 47.3 48.6 48.4 62

 Addendum:

63 FA215000005 Net lending (+) or borrowing (-), financial account (lines 35-56) -243.0 -218.6 -149.3 -146.9 -165.7 -162.8 -260.9 -11.7 63

 Other changes in volume account

64 FV218090185 Total other volume changes -710.4 -62.6 5.9 76.8 69.1 24.6 11.7 -50.0 64

65 FV212010095 Disaster losses 0.0 0.0 0.0 0.0 -2.1 -0.2 0.0 0.0 65

66 FV218090085 Other volume changes -763.4 -114.3 -107.2 -76.1 -58.1 -74.6 52.0 -35.2 66

67 FU217005045 Less: Statistical discrepancy (lines 33-63) (3) -53.1 -51.7 -113.2 -152.9 -129.3 -99.4 40.2 14.8 67

 Revaluation account

68 FR212010095 Nonfinancial assets 250.4 159.4 89.8 212.1 338.5 477.5 307.4 268.8 68

69 FR215015605 Structures 246.7 156.1 91.1 209.1 334.1 469.3 306.5 261.0 69

70 FR215013265 Equipment 1.8 3.1 0.6 0.7 2.1 5.5 0.4 3.3 70

71 FR215013765 Intellectual property products 1.9 0.3 -2.0 2.3 2.4 2.7 0.6 4.5 71

72 FR213081005 Financial assets (equity and investment fund shares) 42.9 17.3 -4.2 18.8 40.7 -19.3 63.5 52.0 72

73 FR223073045 Liabilities (claim of pension funds on sponsor) -498.8 -157.7 109.9 -152.6 -463.1 217.3 -576.8 -428.4 73

74 FR218200005 Changes in net worth due to nominal holding gains/losses 792.1 334.5 -24.3 383.5 842.4 240.9 947.7 749.2 74

 Changes in balance sheet account

75 FC212090095 Change in net worth (lines 29+33+64+74) -112.0 104.6 -164.4 288.2 752.8 142.0 884.3 858.1 75

 Balance sheet account (end of period)

76 FL212000095 Total assets 12620.6 12876.0 13117.6 13625.3 14215.7 14838.8 15438.5 16314.1 76

77 LM212010095 Nonfinancial assets (4) 9738.4 9990.2 10184.5 10511.3 10969.8 11569.6 12005.7 12412.8 77

78 LM215015605 Structures 9380.1 9626.6 9819.5 10137.6 10583.0 11164.9 11591.1 11980.6 78

79 LM215013265 Equipment 243.7 245.6 245.2 247.3 253.0 262.6 267.1 275.0 79

80 LM215013765 Intellectual property products 114.6 118.1 119.8 126.4 133.9 142.1 147.5 157.2 80

81 FL214090005 Financial assets 2882.3 2885.8 2933.1 3114.0 3245.9 3269.3 3432.8 3901.3 81

82 FL214000005 Currency and deposits 476.3 504.7 510.2 524.4 536.0 536.3 562.2 643.5 82

83 FL213020005 Currency and transferable deposits 128.9 145.7 137.1 143.0 140.6 132.9 139.1 229.9 83

84 FL213030000 Time and savings deposits 347.4 359.0 373.2 381.3 395.5 403.4 423.2 413.6 84

85 FL214022005 Debt securities 1429.7 1389.7 1392.0 1489.2 1551.2 1535.2 1651.8 1917.2 85

86 FL213069103 Open market paper 87.0 76.3 73.0 73.4 77.7 78.2 77.6 79.2 86

87 FL213061105 Treasury securities 634.3 646.5 653.8 717.3 735.0 713.2 793.1 1111.9 87

88 FL213061703 Agency- and GSE-backed securities (2) 510.3 473.0 463.6 486.7 514.7 518.4 539.3 466.5 88

89 FL213062003 Municipal securities 14.8 14.5 15.0 15.8 16.7 16.8 16.7 18.6 89

90 FL213063003 Corporate and foreign bonds 183.3 179.6 186.6 195.9 207.2 208.6 225.1 240.9 90

91 FL214035005 Loans 367.5 362.2 378.8 397.7 420.5 423.5 420.1 444.6 91

92 FL212051003 Short term 140.3 139.7 147.5 154.8 163.7 164.9 163.6 182.9 92

93 FL213065005 Long term (mortgages) 227.2 222.6 231.3 242.8 256.8 258.6 256.5 261.7 93

94 FL213081005 Equity and investment fund shares 227.4 240.8 234.2 256.3 295.1 271.5 339.6 397.3 94

95 FL213034003 Money market fund shares 18.1 16.4 16.2 21.6 21.9 19.8 26.5 34.5 95

96 LM213064103 Corporate equities 142.2 153.4 147.7 159.4 185.8 169.6 214.1 250.0 96

97 LM213064203 Mutual fund shares 67.1 71.1 70.4 75.3 87.4 82.2 98.9 112.8 97

98 FL213096005 Other accounts receivable 381.3 388.3 417.8 446.5 443.0 502.7 459.1 498.8 98

99 FL213070003 Trade receivables 172.1 183.1 183.7 201.2 207.4 230.2 249.3 263.7 99

100 FL213078005 Taxes receivable 122.8 129.9 135.5 146.2 151.4 170.0 178.5 189.7 100

101 FL213093003 Other (miscellaneous assets) 86.4 75.3 98.6 99.2 84.2 102.5 31.3 45.4 101
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102 FL212100005 Total liabilities and net worth 12620.6 12876.0 13117.6 13625.3 14215.7 14838.8 15438.5 16314.1 102

103 FL214190005 Liabilities 7487.5 7638.3 8044.2 8263.7 8101.2 8582.4 8297.7 8315.2 103

104 FL213162005 Debt securities (municipals) 3109.2 3073.8 3085.8 3115.6 3113.7 3073.2 3070.2 3158.9 104

105 FL213162400 Short term 45.5 39.1 33.1 30.4 35.2 38.0 44.8 46.7 105

106 FL213162200 Other 3063.7 3034.7 3052.6 3085.2 3078.5 3035.1 3025.4 3112.2 106

107 FL213169203 Loans (short term) 61.1 18.1 18.2 18.5 18.9 20.1 21.1 22.1 107

108 FL223073045 Insurance, pension and standardized guarantee schemes 3533.4 3722.7 4075.3 4221.6 4015.6 4488.9 4157.6 4037.0 108

 (claim of pension funds on sponsor)

109 FL213170003 Other accounts payable (trade payables) 783.9 823.7 864.8 907.9 952.9 1000.2 1048.8 1097.2 109

110 FL212090095 Net worth 5133.2 5237.8 5073.4 5361.6 6114.4 6256.5 7140.8 7998.9 110

(1) The state and local government sector excludes state and local government employee retirement funds.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land and nonproduced nonfinancial assets.
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 Current account

 1 FA266905095 Foreign income from U.S. 3617.2 3781.0 3692.2 3675.9 3955.1 4269.9 4324.2 3874.8 1

 2 FA266903001 U.S. imports of goods and services 2766.4 2887.4 2794.9 2738.4 2923.7 3129.7 3116.0 2774.6 2

 3 FA266904195 U.S. income payments to rest of world 616.9 646.4 640.4 661.5 738.2 847.9 893.9 770.6 3

 4 FA266400101 Current taxes and trans. payments to rest of world 233.9 247.2 257.0 276.0 293.3 292.3 314.3 329.6 4

 5 FA266900095 Less: Foreign outlays to U.S. 3265.2 3404.8 3267.5 3272.2 3582.2 3829.6 3844.4 3287.7 5

 6 FA266903011 U.S. exports of goods and services 2287.0 2377.4 2268.7 2232.1 2383.8 2533.5 2519.7 2123.4 6

 7 FA266904095 U.S. income receipts from rest of world 847.2 881.6 860.8 893.5 1032.7 1142.1 1160.3 992.9 7

 8 FA266400201 Current taxes and trans. receipts from rest of world (1) 130.9 145.8 138.1 146.7 165.8 154.0 164.4 171.4 8

 9 FA266000095 Equals: Net saving (current external balance) 352.1 376.2 424.7 403.7 372.9 440.3 479.8 587.1 9

 Capital account

10 FA266000095 Net saving 352.1 376.2 424.7 403.7 372.9 440.3 479.8 587.1 10

11 FA265440005 Less: Net capital transfers -7.0 -6.9 -8.4 -7.0 -16.0 -4.6 -6.8 -6.1 11

12 FA265420095 Less: Acquisition of nonproduced nonfinancial assets -0.0 -0.0 0.0 0.0 -0.0 -0.1 -0.1 0.2 12

13 FA265000905 Net lending (+) or borrowing (-), capital account (lines 10-11-12) 359.0 383.0 433.0 410.7 388.9 445.0 486.7 593.0 13

 Financial account

14 FA265000905 Net lending (+) or borrowing (-) (line 13) 359.0 383.0 433.0 410.7 388.9 445.0 486.7 593.0 14

15 FA264090005 Net acquisition of U.S. financial assets 1124.7 1149.9 680.1 753.1 1519.1 717.1 549.3 1283.2 15

16 FA263011005 Monetary gold and SDRs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 FA263011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 FA264000005 Currency and deposits 370.9 102.5 -45.6 -13.1 201.9 165.8 -26.3 282.2 19

20 FA263025003 Currency 37.7 66.3 38.4 42.3 69.7 65.3 51.3 121.3 20

21 FA263027003 Transferable deposits 13.0 16.6 -5.7 17.8 11.9 14.2 7.7 34.2 21

22 FA263030005 Time deposits 51.5 54.2 -18.6 70.8 16.4 37.4 -2.1 97.3 22

23 FA264016005 Net interbank items due from U.S. banks 268.7 -34.6 -59.6 -144.0 104.0 48.9 -83.3 29.3 23

24 FA264022005 Debt securities 553.6 527.8 406.5 341.6 652.5 141.9 441.4 44.4 24

25 FA263069103 Open market paper -0.9 7.7 -2.3 36.9 -6.3 -10.2 5.4 -45.3 25

26 FA263061105 Treasury securities 423.2 314.2 42.7 -107.9 308.2 120.2 223.6 -77.7 26

27 FA263061705 Agency- and GSE-backed securities (2) -83.6 -8.1 24.8 79.1 22.0 95.7 55.0 -47.0 27

28 FA263062003 Municipal securities 4.5 4.3 6.5 7.2 7.1 -1.6 4.0 4.8 28

29 FA263063005 Corporate bonds 210.4 209.6 334.9 326.3 321.5 -62.2 153.4 209.6 29

30 FA264035005 Loans 46.4 197.3 73.2 170.2 122.6 -110.4 94.2 51.3 30

31 FA264041005 Short term 40.9 131.4 15.7 64.4 130.9 -7.9 118.7 85.2 31

32 FA262051005 Security repurchases 45.1 100.4 -21.2 68.7 31.3 -31.3 21.3 10.4 32

33 FA263069500 Loans to U.S. corporate business -4.2 31.0 36.9 -4.3 99.5 23.5 97.5 74.8 33

34 FA263092303 Long term (U.S. direct investment abroad: debt) 5.5 65.9 57.5 105.8 -8.2 -102.5 -24.5 -33.9 34

35 FA263081005 Equity and investment fund shares 149.1 300.4 239.0 234.5 483.0 475.5 18.4 846.7 35

36 FA263034003 Money market fund shares 9.2 -0.9 2.3 -14.3 0.1 17.3 14.4 2.0 36

37 FA263064105 Corporate equities -54.9 114.3 -191.4 -186.3 116.9 110.9 -205.4 637.8 37

38 FA263064203 Mutual fund shares -17.0 40.9 1.8 60.9 32.6 28.7 -53.0 8.6 38

39 FA263092101 Foreign direct investment in the U.S.: equity 211.8 146.1 426.3 374.2 333.3 318.5 262.5 198.3 39

40 FA263052005 Insurance, pension and standardized guarantee schemes -1.3 9.1 -3.8 13.4 13.5 10.9 2.9 -24.9 40

41 FA263076005 Insurance receivables due from property-casualty insurance companies 3.7 -0.4 2.9 1.2 10.4 9.1 2.0 -2.1 41

42 FA543141905 Life insurance reserves -4.1 6.7 -4.6 11.0 2.7 -9.3 0.3 -9.1 42

43 FA543151905 Pension entitlements -0.8 2.8 -2.0 1.2 0.4 11.0 0.6 -13.6 43

44 FA263070005 Other accounts receivable 5.9 12.8 10.8 6.4 45.6 33.4 18.8 83.5 44

45 FA264194005 Net incurrence of liabilities 782.1 909.2 348.4 348.4 1176.6 477.9 252.5 797.0 45

46 FA313011303 SDR holdings 0.0 0.0 0.0 0.7 0.1 0.2 0.2 0.1 46

47 FA264100005 Currency and deposits 28.0 -121.4 -242.1 -83.4 255.2 71.2 24.7 110.1 47

48 FA263111503 Official foreign currencies 0.3 0.2 0.2 0.1 0.0 0.0 0.2 0.1 48

49 FA263111403 Reserve position in IMF (net) -3.4 -3.8 -6.5 1.3 -1.8 4.8 4.3 8.8 49

50 FA263191005 U.S. private deposits 31.1 -117.8 -235.8 -84.8 257.0 66.4 20.3 101.2 50

51 FA313091105 Nonofficial foreign currencies -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 51

52 FA264122005 Debt securities 206.1 162.8 -31.3 5.8 384.2 145.3 112.6 6.6 52

53 FA263169105 Commercial paper 66.3 8.9 54.6 -59.2 91.9 6.3 84.4 11.0 53

54 FA263163005 Bonds 139.8 153.9 -85.9 65.0 292.3 139.0 28.1 -4.4 54
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55 FA264135005 Loans -67.7 114.4 125.9 132.8 -49.9 252.1 108.1 72.8 55

56 FA264141005 Short term -54.9 111.6 143.8 153.1 -11.1 161.8 206.9 138.9 56

57 FA262151003 Security repurchases -108.6 16.5 80.8 115.9 -33.1 117.3 113.2 61.4 57

58 FA263169005 Other loans and advances 1.7 2.8 0.7 -1.5 2.8 -5.8 7.0 -2.7 58

59 FA263168005 Depository institution loans n.e.c. 60.5 91.1 62.9 34.1 12.7 58.2 87.1 66.0 59

60 FA713091103 Nonoff. foreign currencies (swap lines) -8.6 1.3 -0.5 4.6 6.5 -7.9 -0.5 14.2 60

61 FA263192305 Long term (foreign direct investment in the U.S.: debt) -12.8 2.7 -18.0 -20.3 -38.8 90.3 -98.7 -66.1 61

62 FA263181105 Equity and investment fund shares 607.3 764.0 484.6 268.0 532.2 -21.1 -6.5 542.9 62

63 FA263164100 Corporate equities 287.4 431.6 196.9 21.7 139.9 171.3 -163.4 241.8 63

64 FA313092803 U.S. government equity in IBRD, etc. 2.0 2.1 2.1 1.7 1.5 1.3 1.4 1.8 64

65 FA263192101 U.S. direct investment abroad: equity 334.7 344.9 292.5 325.7 392.5 -218.6 156.7 330.9 65

66 FA263194735 Investment by holding companies -16.9 -14.6 -6.9 -81.2 -1.8 24.9 -1.2 -31.6 66

67 FA263152005 Insurance, pension and standardized guarantee schemes -1.0 -5.8 9.9 21.9 47.4 27.5 11.2 64.9 67

68 FA263170005 Other accounts payable 9.5 -4.9 1.4 2.7 7.4 2.7 2.2 -0.4 68

 Addendum:

69 FA265000005 Net lending (+) or borrowing (-), financial account (lines 15-45) 342.6 240.6 331.7 404.6 342.5 239.2 296.9 486.2 69

 Other changes in volume account

70 FV268090185 Total other volume changes 49.0 -203.9 -91.1 -81.6 -61.9 171.4 -89.6 -116.1 70

71 FV268090085 Other volume changes 65.4 -61.5 10.2 -75.5 -15.6 377.1 100.3 -9.3 71

72 FU267005005 Less: Statistical discrepancy (lines 13-69) (3) 16.5 142.4 101.3 6.1 46.4 205.7 189.8 106.8 72

 Revaluation account

73 FR264090005 Financial assets 1816.7 1003.4 -727.4 720.4 2269.4 -1594.0 4205.6 3630.7 73

74 FR263011005 Monetary gold and SDRs 0.1 -3.2 -2.2 -1.5 2.8 -1.2 -0.3 2.0 74

75 FR264000005 Currency and deposits 1.5 -1.1 -1.4 -0.6 -1.1 -1.5 -3.6 -1.2 75

76 FR264022005 Debt securities -382.2 87.9 -268.0 -69.5 67.1 -356.3 508.5 609.4 76

77 FR263069103 Open market paper -0.6 -1.1 -1.4 -0.4 1.0 1.5 0.1 -0.6 77

78 FR263061105 Treasury securities -215.8 94.0 -56.2 -43.0 -21.7 -61.5 196.9 302.7 78

79 FR263061705 Agency- and GSE-backed securities -11.4 8.0 -3.7 -1.8 -0.4 -7.9 13.4 10.8 79

80 FR263063005 Corporate bonds -154.4 -12.9 -206.7 -24.2 88.2 -288.5 298.2 296.5 80

81 FR263092303 Foreign direct investment in the U.S.: debt -0.3 -10.0 2.3 -47.4 19.3 13.4 11.5 -2.9 81

82 FR263081005 Equity and investment fund shares 2197.5 930.1 -457.8 839.6 2180.9 -1248.1 3691.8 3026.0 82

83 FR263064105 Corporate equities 1307.3 600.9 -228.2 468.1 1119.8 -500.8 1775.1 1612.2 83

84 FR263064203 Mutual fund shares 74.6 22.7 -17.9 32.8 101.9 -58.4 150.1 124.7 84

85 FR263092101 Foreign direct investment in the U.S.: equity 815.6 306.5 -211.7 338.7 959.2 -688.9 1766.5 1289.1 85

86 FR263070005 Other accounts receivable 0.1 -0.2 -0.3 -0.2 0.4 -0.3 -2.4 -2.6 86

87 FR264194005 Liabilities 1455.7 -411.6 -855.5 305.4 3084.2 -2858.7 3133.1 1406.0 87

88 FR313011303 SDR holdings 0.1 -3.3 -2.3 -1.5 2.9 -1.2 -0.3 2.1 88

89 FR264100005 Currency and deposits -2.5 -9.4 -3.3 0.1 -2.5 -3.0 16.1 41.6 89

90 FR263111503 Official foreign currencies -2.6 -5.9 -2.8 -0.3 3.7 -0.8 -0.5 2.9 90

91 FR263111403 Reserve position in IMF (net) 0.0 -1.7 -1.1 -0.6 1.1 -0.4 -0.1 1.4 91

92 FR263191005 U.S. private deposits 0.1 -1.8 0.6 1.0 -7.2 -1.8 16.8 37.3 92

93 FR263191103 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 93

94 FR263163005 Debt securities (corporate bonds) -114.7 17.1 -102.6 49.5 135.3 -98.3 224.8 148.9 94

95 FR264135005 Loans -26.3 57.9 4.4 -17.0 10.4 -39.9 -2.9 0.2 95

96 FR263169203 Short term (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96

97 FR263192101 Long term (U.S. direct investment abroad: debt) 735.6 -339.6 -539.7 47.7 1105.5 -1326.1 1153.4 396.6 97

98 FR263181105 Equity and investment fund shares 1599.2 -473.4 -751.1 274.6 2937.4 -2716.0 2895.2 1212.7 98

99 FR263164100 Corporate equities 863.6 -133.9 -211.4 226.8 1831.9 -1389.9 1741.8 816.1 99

100 FR263192101 U.S. direct investment abroad: equity 735.6 -339.6 -539.7 47.7 1105.5 -1326.1 1153.4 396.6 100

101 FR263152005 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 0.0 0.0 -0.0 0.2 0.1 101

102 FR263170005 Other accounts payable -0.1 -0.5 -0.6 -0.3 0.7 -0.3 0.0 0.3 102

103 FR265000005 Changes in net worth due to nominal holding gains/losses 361.0 1415.1 128.2 415.0 -814.8 1264.7 1072.5 2224.7 103

 Changes in balance sheet account

104 FC262090095 Change in net worth (lines 13+70+103) 769.0 1594.2 470.1 744.1 -487.8 1881.1 1469.6 2701.5 104
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 Financial balance sheet account (end of period)

105 FL264090005 Total financial assets (4) 23012.4 25138.2 25116.7 26642.2 30463.6 29980.5 34921.4 39843.0 105

106 FL313111303 SDR allocations 54.4 51.2 48.9 47.5 50.3 49.1 48.8 50.9 106

107 FL264000005 Currency and deposits 1328.7 1431.0 1385.0 1371.6 1571.0 1736.7 1710.4 1993.1 107

108 FL263025003 Currency 491.9 558.2 596.6 638.9 708.6 773.9 825.2 946.5 108

109 FL263027003 Transferable deposits 99.4 116.0 110.2 128.0 139.9 154.1 161.8 196.0 109

110 FL263030005 Time deposits 445.1 499.2 480.2 550.8 564.6 601.9 599.8 697.6 110

111 FL264016005 Net interbank items due from U.S. banks 292.2 257.6 198.0 54.0 158.0 206.8 123.6 152.9 111

112 FL264022005 Debt securities 9586.9 10174.2 10337.3 10661.1 11341.9 11186.0 12246.3 12906.1 112

113 LM263069103 Open market paper 101.3 108.0 104.3 140.8 135.4 124.7 130.2 85.3 113

114 LM263061105 Treasury securities 5792.6 6158.0 6146.2 6002.8 6211.3 6270.1 6844.2 7070.8 114

115 LM263061705 Agency- and GSE-backed securities (2) 883.8 899.6 916.5 991.6 1012.2 1087.0 1203.8 1195.7 115

116 FL263062003 Municipal securities 76.2 80.6 87.0 94.2 101.3 99.7 103.7 108.5 116

117 LM263063005 Corporate bonds 2732.9 2928.0 3083.3 3431.7 3881.7 3604.4 3964.3 4445.8 117

118 FL264035005 Loans 1468.5 1655.8 1731.4 1854.2 2069.2 2306.2 2483.9 2532.3 118

119 FL264041005 Short term 963.3 1094.7 1110.4 1174.8 1378.7 1704.8 1895.6 1980.8 119

120 FL262051005 Security repurchases 823.6 924.0 902.8 971.5 1002.9 971.5 1064.8 1075.2 120

121 FL263069500 Loans to U.S. corporate business 139.7 170.6 207.5 203.3 375.8 733.3 830.8 905.6 121

122 FL263092303 Long term (U.S. direct investment abroad: debt) 505.2 561.1 621.0 679.4 690.5 601.3 588.4 551.5 122

123 FL263081005 Equity and investment fund shares 10307.8 11538.3 11319.5 12393.6 15057.4 14284.8 17994.9 21867.6 123

124 FL263034003 Money market fund shares 106.2 105.3 107.6 93.3 93.4 110.7 125.1 127.1 124

125 LM263064105 Corporate equities 5205.4 5920.6 5500.9 5782.7 7019.4 6629.5 8199.2 10449.2 125

126 LM263064203 Mutual fund shares 553.1 616.6 600.6 694.2 828.7 799.0 896.1 1029.4 126

127 LM263092101 Foreign direct investment in the U.S.: equity 4443.2 4895.8 5110.4 5823.4 7115.9 6745.5 8774.6 10262.0 127

128 FL263052005 Insurance, pension and standardized guarantee schemes 41.9 51.0 47.2 60.6 74.2 85.0 88.0 63.1 128

129 FL263076005 Insurance receivables due from property-casualty insurance companies 36.1 35.7 38.6 39.8 50.1 59.2 61.3 59.1 129

130 FL543141905 Life insurance reserves 3.9 10.6 5.9 17.0 19.7 10.4 10.7 1.6 130

131 FL543151905 Pension entitlements 2.0 4.7 2.7 3.9 4.3 15.4 16.0 2.4 131

132 LM263070005 Other accounts receivable 224.3 236.8 247.4 253.5 299.6 332.7 349.1 430.0 132

133 FL262100005 Total liabilities and net worth 23012.4 25138.2 25116.7 26642.2 30463.6 29980.5 34921.4 39843.0 133

134 FL264194005 Total liabilities 17927.9 18459.5 17967.9 18749.3 23058.5 20694.4 24165.7 26385.8 134

135 FL313011303 SDR holdings 55.2 51.9 49.7 48.9 51.9 50.8 50.7 52.9 135

136 FL264100005 Currency and deposits 1031.4 897.1 650.3 560.4 820.6 890.5 837.1 951.7 136

137 FL263111503 Official foreign currencies 47.4 41.8 39.1 38.9 42.6 41.8 41.4 44.4 137

138 FL263111403 Reserve position in IMF (net) 30.8 25.2 17.6 18.4 17.6 22.0 26.2 36.4 138

139 LM263191005 U.S. private deposits 950.6 827.6 590.9 500.6 757.7 824.1 766.9 868.3 139

140 FL313091105 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 140

141 FL264122005 Debt securities 2649.5 2866.9 2753.4 2801.2 3344.0 3406.1 3800.4 4010.1 141

142 FL263169105 Commercial paper 265.7 274.6 329.3 270.1 362.0 368.3 452.8 463.8 142

143 LM263163005 Bonds 2383.8 2592.3 2424.1 2531.1 2982.0 3037.7 3347.6 3546.3 143

144 FL264135005 Loans 1216.4 1388.6 1515.4 1631.1 1609.3 1821.5 2049.8 2122.7 144

145 FL264141005 Short term 1016.4 1128.1 1268.5 1421.5 1428.0 1589.9 1919.7 2058.6 145

146 FL262151003 Security repurchases 692.2 708.6 789.5 905.4 872.3 989.6 1225.7 1287.1 146

147 FL263169005 Other loans and advances 34.6 37.4 37.5 36.0 56.4 50.6 57.6 55.0 147

148 FL263168005 Depository institution loans n.e.c. 289.4 380.5 440.5 474.6 487.3 545.5 632.6 698.6 148

149 FL713091103 Nonoff. foreign currencies (swap lines) 0.3 1.5 1.0 5.6 12.1 4.2 3.7 17.9 149

150 FL263192305 Long term (foreign direct investment in the U.S.: debt) 199.9 260.5 246.9 209.6 181.2 231.7 130.0 64.1 150

151 FL263181105 Equity and investment fund shares 12682.3 12972.9 12706.4 13390.6 16860.1 14123.1 17011.7 18767.4 151

152 LM263164100 Corporate equities 6472.9 6770.6 6756.2 7146.3 9118.1 7899.6 9478.0 10535.9 152

153 FL313092803 U.S. government equity in IBRD, etc. 57.4 59.4 61.5 63.3 64.8 66.1 67.5 69.3 153

154 LM263192101 U.S. direct investment abroad: equity 6054.2 6059.6 5812.3 6185.8 7683.8 6139.1 7449.1 8176.6 154

155 FL263194735 Investment by holding companies 97.9 83.3 76.4 -4.8 -6.6 18.3 17.1 -14.5 155

156 FL263152005 Insurance, pension and standardized guarantee schemes 222.2 216.4 226.3 248.2 295.6 323.0 334.3 399.4 156

157 LM263170005 Other accounts payable 71.0 65.6 66.5 69.0 77.1 79.4 81.6 81.6 157

158 FL262090095 Net worth (external account) 5084.5 6678.7 7148.8 7892.9 7405.1 9286.1 10755.7 13457.3 158

(1) Prior to 1999, current taxes, contributions for government social insurance, and transfer receipts from the rest of the world (line 8) are not separately displayed, and line 4 includes

 current taxes and transfer payments to the rest of the world net of current taxes, contributions for government social insurance, and transfer receipts from the rest of the world.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Nonfinancial assets, including nonproduced nonfinancial assets, are not included on the balance sheet.