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

December 9, 2021

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

Third 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 

$144.7 trillion during the third quarter of 2021. The 

value of directly and indirectly held corporate equities 

decreased $0.3 trillion and the value of real estate 

increased $1.4 trillion.

Domestic nonfinancial debt outstanding was $63.7

trillion at the end of the third quarter of 2021, of which 

household debt was $17.6 trillion, nonfinancial business 

debt was $18.2 trillion, and total government debt was 

$27.9 trillion.

Domestic nonfinancial debt expanded 2.4 percent at an 

annual rate in the third quarter of 2021, down from an 

annual rate of 6.5 percent in the previous quarter.

Household debt increased 6.2 percent at an annual rate 

in the third quarter of 2021. Consumer credit grew at an 

annual rate of 5.3 percent, while mortgage debt 

(excluding charge-offs) grew at an annual rate of 7.8

percent.

Nonfinancial business debt rose at an annual rate of 

3.9 percent in the third quarter of 2021, up from a 1.8 

percent annual rate in the previous quarter.

Federal government debt decreased 1.3 percent at an 

annual rate in the third quarter of 2021, down from a 9.6

percent annual rate in the previous quarter.

State and local government debt expanded at an 

annual rate of 1.7 percent in the third quarter of 2021, 

after expanding at an annual rate of 3.2 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 66,948 3.6 0.1 2.4 10.8 -0.9

2012 71,904 4.7 0.5 5.6 10.1 -0.1

2013 80,614 4.2 2.3 4.9 6.7 -0.2

2014 86,631 3.8 1.2 6.8 5.4 -2.3

2015 89,654 4.4 2.3 7.0 5.0 0.4

2016 94,758 4.4 3.1 5.1 5.6 1.0

2017 103,478 4.2 3.9 6.1 3.7 -0.0

2018 104,330 4.7 3.1 4.4 7.6 -1.2

2019 116,814 4.7 3.3 4.9 6.6 -0.0

2020 130,916 12.4 3.8 8.9 24.1 2.9

2019: Q3 113,171 5.8 3.2 5.9 8.9 0.8

Q4 116,814 3.3 3.5 2.3 4.2 3.0

2020: Q1 110,586 11.7 3.6 18.9 14.1 1.0

Q2 118,585 26.8 -0.1 15.3 62.5 3.5

Q3 122,911 4.1 5.5 0.2 6.0 5.6

Q4 130,916 5.1 6.1 0.4 8.4 1.6

2021: Q1 136,206 6.7 6.7 4.3 9.0 3.5

Q2 142,347 6.5 7.8 1.8 9.6 3.2

Q3 144,709 2.4 6.2 3.9 -1.3 1.7

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

New tables on debt securities 

statistics added to the “International 

Data Submissions” page

Four new tables on debt securities issuance and holdings were 

added to the “International Data Submissions” webpage of the 

Financial Accounts Guide. These tables satisfy Recommendation 

7 of the Second Phase of the G20 Data Gaps Initiative (DGI-2) 

and are submitted to the Bank of International Settlements (BIS) 

in SDMX format. Data is not available for all breakouts in the 

tables. The four new tables are: (i) “Table 1.3: Debt Securities 

Issues by Sector, Currency, Maturity, Interest Rate and Market of 

Issuance, Net Transactions at Market Value”; (ii) “Table 2.1: Debt 

Securities Holdings by Holding Sector, Issuer Residency, 

Currency, Maturity, Interest Rate and Market, Stocks at Market 

Value”; (iii) “Table 2.2: Debt Securities Holdings by Holding 

Sector, Issuer Residency, Currency, Maturity, Interest Rate and 

Market, Net Transactions at Market Value”; and (iv) “Table 3.1: 

Debt Securities Issues and Holdings in a From-Whom-To-Whom

Framework, Stocks at market value”.

Security brokers and dealers sector 

identified miscellaneous financial 

claims now reported in gross terms 

instead of net

Security brokers and dealers sector identified miscellaneous 

financial claims: payables and receivables (Tables F.233 and 

L.233), previously securities borrowed (net), are no longer 

reported as net assets and liabilities. They are now reported as 

gross assets and liabilities of the sector in line with the System of 

National Accounts (SNA 2008) treatment. In addition, beginning 

2000:Q1, payables and receivables to and from clearing 

organizations are now reported separately and are included in the 

other financial business sector (Tables F.132 and L.132). The net 

position of security brokers and dealers sector payables 

(receivables) to (from) other brokers is still assumed to be held in 

custodial accounts for reinvested collateral of securities lending 

operations. It is reported as securities lending (net) on the liability 

side of the other financial business sector.

FEDS Note A new FEDS note was published on August 20, 2021: "Wealth 

Inequality and COVID-19: Evidence from the Distributional 

Financial Accounts" (Michael Batty, Ella Deeken, and Alice 

Henriques Volz).

FEDS Note A new FEDS note was published on July 30, 2021: “Accounting 

for COVID-19 Related Funding, Credit, Liquidity, and Loan 

Facilities in the Financial Accounts of the United States” (Matthew 

Hoops and Robert Kurtzman).

Release Highlights

Third Quarter 2021
iv
v

Financial Accounts of the United States

The Statistical Release Z.1, Financial Accounts of the 

United States, or Financial Accounts, is organized into 

the following sections:

■ Matrices summarizing transactions and levels 

across sectors and tables on debt growth, net 

national wealth, gross domestic product (GDP), 

national income, saving, and so on

■ Transactions of financial assets and liabilities, 

by sector and by financial instrument 

■ Levels of financial assets and liabilities, by 

sector and by financial instrument

■ Balance sheets, including nonfinancial assets, 

and changes in net worth for households and 

nonprofit organizations, nonfinancial corporate 

businesses, and nonfinancial noncorporate 

businesses

Supplementary tables including balance sheets 

for the household sector, nonprofit organization 

sector, the household and nonprofit 

organization sector with additional equity and 

debt detail, and domestic hedge funds, as well 

as tables detailing stocks and flows of fixed 

assets

■ Integrated Macroeconomic Accounts (IMA)

The IMA relate production, income, saving, and capital 

formation from the Bureau of Economic Analysis’s 

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

changes in net worth from the Financial Accounts on a 

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

the Federal Reserve Board and BEA and are based on 

international guidelines and terminology as defined in 

the System of National Accounts (SNA2008).

Federal Reserve Board staff have taken many steps over 

the past several years to conform the Financial Accounts

with the SNA2008 guidelines. Nonetheless, a few 

important differences remain, in particular, the 

following in the Financial Accounts:

■ The purchase of consumer durables is treated as 

investment rather than as consumption.

■ Nonfinancial noncorporate businesses (which 

are often small businesses) are shown in a 

separate sector rather than being included in the 

household sector.

■ Some debt securities are recorded at book value 

rather than market value.

Concepts of Levels and Transactions in 

the SNA and the Financial Accounts

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

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

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

Financial Accounts, the levels are reported as of the end 

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

the level from one period to the next is called the 

economic flow, and can be decomposed into three broad 

elements: transactions, which measure the exchange of 

assets; revaluations, which measure holding gains and 

losses; and other changes in volume, which measure 

discontinuities or breaks in time series due to disaster 

losses or a change in source data or definition. In 

practice, other volume changes are relatively rare, and 

revaluations occur mainly for series carried at market 

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

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

level is equal to the transactions element.

Growth Rates

Growth rates calculated from levels include revaluations 

and other changes in volume. In order to isolate the 

effect of transactions on the growth of a given asset or 

liability, users should calculate the ratio of transactions

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

Growth rates in table D.1 are calculated by dividing 

transactions at a seasonally adjusted annual rate from 

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

previous period from table D.3. Growth rates calculated 

from changes in unadjusted levels may differ from those 

in table D.1.

Seasonal Adjustment

Seasonal factors are recalculated and updated 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 accounts. In the reverse case, 

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

data for deriving gross savings come from the BEA’s 

NIPA. For a financial instrument category, the 

discrepancy is defined as the difference between the 

measurement of funds raised through the financial 

instrument and funds disbursed through that instrument. 

The relative size of the statistical discrepancy is one 

indication of the quality of the underlying source data. 

Note that differences in seasonal adjustment procedures 

sometimes result in quarterly discrepancies that partially 

or completely offset each other in the annual data.

Financial Accounts Guide 

Substantially more detail on the construction of the 

Financial Accounts is available in the Financial 

Accounts Guide, which provides interactive, online 

documentation for each data series. The tools and 

descriptions in the guide are designed to help users 

understand the structure and content of the Financial 

Accounts.

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

according to a unique string of patterned numbers and 

letters. The series structure page of the guide provides a 

breakdown of what the letters and numbers represent in 

the series mnemonics. Some data submissions to 

international organizations are also available in the 

guide. The guide is updated with the quarterly release 

and is available online:

www.federalreserve.gov/apps/fof

Enhanced Financial Accounts and Data 

Visualization 

Additional supplementary information is available 

online in the Enhanced Financial Accounts, which 

augment the Financial Accounts with finer detail, 

additional types of activities, higher-frequency data, and 

more-disaggregated data. Links to the Enhanced 

Financial Accounts are available from both the 

Financial Accounts Guide page and the main release 

page. In addition, interactive online data visualizations

are available for selected components of the Financial 

Accounts and Enhanced Financial Accounts. Links are 

available also on the same pages.

Production Schedule 

The Financial Accounts are published four times per 

year, about 10 weeks following the end of each calendar 

quarter. The publication is available online:

www.federalreserve.gov/releases/Z1

This website also provides CSV files of quarterly data 

for transactions at a seasonally adjusted annual rate, 

unadjusted transactions, levels outstanding, balance 

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

In addition, the data are available as customizable

datasets through the Federal Reserve Board’s Data 

Download Program online:

www.federalreserve.gov/datadownload/default.htm

Print Subscription Information 

The Federal Reserve Board charges a fee for 

subscriptions to print versions of statistical releases.

Inquiries regarding print versions should be directed to 

the following office:

Publications Services, Stop 127

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue, N.W.

Washington, DC 20551

(202) 452-3245
vii

Sector Table Available at time of publication

National income and product 

accounts (NIPA) 

(various tables) 

Second estimate, seasonally adjusted, for 2021:Q3. Corporate 

profits through 2021:Q3 (preliminary). Government receipts and 

expenditures unadjusted transactions from 1952:Q1 forward. 

GDP and income unadjusted transactions from 2002:Q1 

forward. Many BEA series are downloaded via Haver Analytics. 

Households and nonprofit

organizations sector

(tables F.101 and L.101)

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

Data for consumer credit, which are estimated directly, are 

available through 2021:Q3. 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:Q2 (table B.101.f).

Nonfinancial corporate business 

(tables F.103 and L.103)

Quarterly Financial Report (QFR) of the Census Bureau through 

2021:Q3; IRS/SOI data through 2019. Securities offerings, 

mortgages, bank loans, commercial paper, and other loans 

through 2021:Q3. Corporate farm data through 2019; USDA 

forecast through 2021:Q3.

Nonfinancial noncorporate business

(tables F.104 and L.104)

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

and mortgage borrowing through 2021:Q3. Noncorporate farm 

data through 2019; USDA forecast through 2021:Q3.

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:Q3. 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:Q3. 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)

Market value level of debt securities through 2021:Q2. All other 

data through 2021:Q3.

U.S.-chartered depository 

institutions

(tables F.111 and L.111)

All data through 2021:Q3.

Foreign banking offices in U.S.

(tables F.112 and L.112)

All data through 2021:Q3.

Banks in U.S.-affiliated areas

(tables F.113 and L.113)

All data through 2021:Q3.

Credit unions

(tables F.114 and L.114)

Credit Union National Association data through 2021:Q3; data 

for Natural person and corporate Call Reports through 2021:Q2.

Property-casualty insurance 

companies

(tables F.115 and L.115)

All data through 2021:Q3.

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:Q3.

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:Q2. 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:Q3. 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:Q2 from the Census Bureau.

Investment Company Institute data through 2021:Q2. BEA 

annual actuarial liability data through 2020:Q4.

Money market funds

(tables F.121 and L.121)

All data through 2021:Q3.

Mutual funds

(tables F.122 and L.122)

All data through 2021:Q3.

Closed-end funds

(tables F.123 and L.123)

All data through 2021:Q3.

Exchange-traded funds

(tables F.124 and L.124)

All data through 2021:Q3.

Government-sponsored enterprises 

(GSEs)

(tables F.125 and L.125)

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

FCS, and FHLB through 2021:Q3.

Agency- and GSE-backed 

mortgage pools

(tables F.126 and L.126)

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

Mae through 2021:Q3.

Issuers of asset-backed securities 

(ABS)

(tables F.127 and L.127)

All data for private mortgage pools, consumer credit, business 

loans, student loans, consumer leases, and trade credit 

securitization through 2021:Q3.

Finance companies

(tables F.128 and L.128)

All data through 2021:Q3.

Real estate investment trusts 

(REITs)

(tables F.129 and L.129)

All data through 2021:Q3.

Security brokers and dealers

(tables F.130 and L.130)

FOCUS and FOGS reports through 2021:Q3.

Holding companies

(table F.131 and L.131)

All data through 2021:Q3.

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:Q3. International investment position 

through 2021:Q2.
ix

Title Table Page

Summaries

Financial Accounts Matrix—Transactions 1

Financial Accounts Matrix—Levels 3

Debt Growth by Sector D.1 5

Borrowing by Sector D.2 6

Debt Outstanding by Sector D.3 7

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

Distribution of Gross Domestic Product F.2 9

Distribution of National Income F.3 10

Saving and Investment F.4 11

Net Capital Transfers F.5 12

Derivation of Measures of Personal Saving F.6 13

Assets and Liabilities of the Personal Sector L.6 14

Title

Transactions Levels

Table Page Table Page

Sectors

Domestic Nonfinancial F.100 15 L.100 77

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

Nonfinancial Business F.102 17 L.102 79

Nonfinancial Corporate Business F.103 18 L.103 80

Nonfinancial Noncorporate Business F.104 19 L.104 81

General Government F.105 20 L.105 82

Federal Government F.106 21 L.106 83

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

Domestic Financial F.108 23 L.108 85

Monetary Authority F.109 24 L.109 86

Private Depository Institutions F.110 25 L.110 87

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

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

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

Credit Unions F.114 29 L.114 90

List of Data Tables
x

Sectors

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

Life Insurance Companies F.116 30 L.116 92

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

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

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

Private Pension Funds F.118 33 L.118 95

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

Private Pension Funds: Defined Contribution 

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

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

Federal Government Employee Retirement 

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

Federal Government Employee Retirement 

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

State and Local Government Employee Retirement 

Funds F.120 37 L.120 99

State and Local Government Employee 

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

State and Local Government Employee 

Retirement Funds: Defined Contribution 

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

Money Market Funds F.121 39 L.121 101

Mutual Funds F.122 39 L.122 101

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

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

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

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

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

Finance Companies F.128 43 L.128 105

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

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

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

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

Holding Companies F.131 47 L.131 109

Other Financial Business F.132 48 L.132 110

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

Instruments

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

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 50 L.201 112

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

Net Interbank Transactions F.203 51 L.203 113

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

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

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

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

Debt Securities F.208 55 L.208 117

Open Market Paper F.209 56 L.209 118

Treasury Securities F.210 57 L.210 119

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

Municipal Securities F.212 59 L.212 121

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

Loans F.214 61 L.214 123

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

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

Total Mortgages F.217 64 L.217 126

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

Multifamily Residential Mortgages F.219 65 L.219 127

Commercial Mortgages F.220 66 L.220 128

Farm Mortgages F.221 66 L.221 128

Consumer Credit F.222 67 L.222 129

Corporate Equities F.223 68 L.223 130

Mutual Fund Shares F.224 68 L.224 130

Trade Credit F.225 69 L.225 131

Life Insurance Reserves F.226 69 L.226 131

Pension Entitlements F.227 70 L.227 132

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

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

Direct Investment F.230 71 L.230 133
xii

Instruments

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

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

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

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

Sector Discrepancies F.7 76

Instrument Discrepancies F.8 76

Title

Balance Sheet Change in Net Worth

Table Page Table Page

Balance Sheet and Change in Net Worth

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

Nonfinancial Corporate Business B.103 139 R.103 142

Nonfinancial Noncorporate Business B.104 140 R.104 143

Title Table Page

Supplementary Tables

Balance Sheet of Households B.101.h 144

Balance Sheet of Nonprofit Organizations B.101.n 145

Balance Sheet of Households and Nonprofit Organizations with Debt and Equity

Holdings Detail B.101.e 146

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

Gross Fixed Investment F.4.g 148

Consumption of Fixed Capital F.4.c 149

Net Fixed Investment F.4.f 150

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

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy—Current Account S.1.a 152

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

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

Nonfinancial Noncorporate Business S.4.a 158

Nonfinancial Corporate Business S.5.a 161

Financial Business S.6.a 164

Central Bank S.61.a 167

 Private Depository Institutions S.62.a 169

 Insurance Companies S.63.a 172

 Pension Funds S.64.a 175

 Other Financial Business S.65.a 178

Federal Government S.7.a 181

State and Local Governments S.8.a 184

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

1

Z.1, December 9, 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 -- 2513.2 -- -2875.1 -- 461.6 -- 5119.2 -- 385.0 -- 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 -- 444.8 -- -3178.6 -- 158.8 -- 604.8 -- 114.9 -- 593.2 -- 1312.9 -- 4 Gross investment (5 plus 11) 5075.9 -- 2382.4 -- -2908.7 -- 438.4 -- 4988.0 -- 381.8 -- 486.4 -- 5856.3 -- 241.05 Capital expenditures 2453.7 -- 2384.6 -- 337.4 -- 458.6 -- 5634.2 -- 297.4 -- 0.2 -- 5931.8 -- 165.56 Consumer durables 1512.5 -- -- -- -- -- -- -- 1512.5 -- -- -- -- -- 1512.5 -- -- 7 Residential 738.5 -- 156.4 -- 0.8 -- 8.9 -- 904.7 -- 2.8 -- -- -- 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 (-) 2622.2 -- -2.2 -- -3246.1 -- -20.1 -- -646.2 -- 84.4 -- 486.3 -- -75.6 -- 75.612 Net acquisition of financial assets 3243.9 -- 1973.5 -- 1701.9 -- 371.0 -- 7290.3 -- 9649.8 -- 1283.3 -- 18223.3 -- -- 13 Net increase in liabilities and equity -- 621.7 -- 1975.7 -- 4948.0 -- 391.1 -- 7936.5 -- 9565.4 -- 797.0 -- 18298.9 -- 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 -- 11.6 -- -- -- -- -- 19.4 -- -6.7 -- -- 101.2 12.7 101.2 88.518 Interbank claims -- -- -- -- -- -- -- -- -- -- 1506.5 1546.3 29.3 -- 1535.8 1546.3 10.419 Checkable dep. and currency 1710.5 -- 764.7 -- 1326.3 -- 90.8 -- 3892.3 -- 224.8 4272.6 156.1 -- 4273.1 4272.6 -0.520 Time and savings deposits 471.6 -- 229.7 -- -1.3 -- -9.6 -- 690.4 -- 6.3 795.2 98.5 -- 795.2 795.2 -- 21 Money market fund shares 337.4 -- 128.6 -- -- -- 7.9 -- 473.9 -- 225.3 701.3 2.0 -- 701.3 701.3 -- 22 Fed. funds and security repos -- -- 26.4 -- -- -- 19.3 -- 45.7 -- -307.7 -254.1 10.4 61.4 -251.5 -192.7 58.923 Debt securities -448.6 -10.3 55.8 617.2 0.0 4581.2 224.8 90.6 -167.9 5278.7 6312.7 903.8 44.4 6.6 6189.1 6189.1 -- 24 Open market paper -- -- 38.3 -62.3 -- -- 1.7 -- 40.0 -62.3 -53.0 -7.0 -45.3 11.0 -58.4 -58.4 -- 25 Treasury securities -117.9 -- 12.5 -- -- 4582.2 291.3 -- 186.0 4582.2 4473.9 -- -77.7 -- 4582.2 4582.2 -- 26 Agency- and GSE-backed sec. -328.5 -- 4.4 -- 0.0 -1.0 -71.4 -- -395.5 -1.0 1099.7 658.2 -47.0 -- 657.2 657.2 -- 27 Municipal securities -32.8 -10.3 0.5 4.0 -- -- 1.5 90.6 -30.7 84.4 110.3 -- 4.8 -- 84.4 84.4 -- 28 Corporate and fgn. bonds 30.6 -- -- 675.5 0.0 -- 1.8 -- 32.4 675.5 681.8 252.6 209.6 -4.4 923.7 923.7 -- 29 Loans 116.4 625.2 6.6 831.7 253.2 0.0 5.3 1.0 381.6 1457.9 1036.5 -29.9 73.3 63.3 1491.3 1491.3 -- 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 118.0 168.5 -- 284.1 188.1 0.0 -- 1.0 306.2 453.6 -36.2 -107.8 73.3 -2.7 343.2 343.2 -- 32 Mortgages 1.5 448.2 6.6 296.7 3.3 0.0 5.3 -- 16.8 744.9 730.4 2.3 -- -- 747.2 747.2 -- 33 Consumer credit -3.1 -12.0 0.0 -- 61.7 -- -- -- 58.6 -12.0 -70.6 -- -- -- -12.0 -12.0 -- 34 Corporate equities 434.9 -- -127.0 -168.9 0.0 -- -3.4 -- 304.5 -168.9 -370.3 499.2 637.9 241.8 572.0 572.0 -- 35 Mutual fund shares -59.4 -- 10.6 -- -- -- 1.2 -- -47.6 -- -187.6 -226.8 8.5 -- -226.8 -226.8 -- 36 Trade credit 7.6 6.7 81.8 108.8 11.3 17.2 7.3 48.4 108.1 181.2 41.1 101.9 83.5 -0.4 232.7 282.7 50.137 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 480.2 -- -- -- -- -- -- -- 480.2 -- 91.4 511.1 -13.6 46.9 558.0 558.0 -- 39 Taxes payable -- -- -- 26.9 -18.6 -- 13.1 -- -5.5 26.9 -- -8.2 -- -- -5.5 18.8 24.340 Equity in noncorp. business 10.1 -- -- 3.2 -- -- -- -- 10.1 3.2 -- 6.9 -- -- 10.1 10.1 -- 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 81.3 0.1 558.2 417.7 122.0 349.5 14.1 251.0 775.6 1018.3 1023.1 635.7 -2.1 -13.1 1796.6 1641.0 -155.646 Sector discrepancies (1 less 4) -56.5 -- 130.8 -- 33.6 -- 23.2 -- 131.2 -- 3.2 -- 106.7 -- 241.1 -- 241.0General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

2

Z.1, December 9, 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, December 9, 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 104517.1 -- 31043.6 -- 4665.2 -- 3897.2 -- 144123.0 -- 122358.1 -- 39843.1 -- 306324.3 -- -4903.62 Total liabilities and equity -- 17123.3 -- 97307.2 -- 26555.0 -- 8341.9 -- 149327.4 -- 125707.5 -- 26385.8 -- 301420.7 -- 3 Total liabilities -- 17123.3 -- 33721.2 -- 26555.0 -- 8341.9 -- 85741.4 -- 111781.0 -- 7673.2 -- 205195.5 -- 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 -- 142.6 -- -- -- -- -- 191.2 -- 0.7 -- -- 868.3 191.9 868.3 676.38 Interbank claims -- -- -- -- -- -- -- -- -- -- 3138.1 3258.2 152.9 -- 3291.1 3258.2 -32.99 Checkable dep. and currency 2883.9 -- 2442.5 -- 1732.1 -- 229.9 -- 7288.3 -- 694.4 9128.6 1143.1 -- 9125.8 9128.6 2.810 Time and savings deposits 10305.6 -- 1537.7 -- 1.0 -- 413.6 -- 12257.9 -- 723.1 13679.8 698.8 -- 13679.8 13679.8 -- 11 Money market fund shares 2548.1 -- 797.3 -- -- -- 34.5 -- 3379.9 -- 828.6 4335.6 127.1 -- 4335.6 4335.6 -- 12 Fed. Funds and security repos -- -- 39.8 -- -- -- 182.9 -- 222.7 -- 3592.5 2946.7 1075.2 1287.1 4890.4 4233.8 -656.613 Debt securities 4564.4 202.5 467.9 7200.1 0.5 23621.1 1903.2 3185.6 6935.9 34209.2 35880.5 14874.3 12906.1 4010.1 55722.5 53093.6 -2628.914 Open market paper -- -- 255.9 132.2 -- -- 79.2 -- 335.1 132.2 566.5 390.9 85.3 463.8 986.9 986.9 -- 15 Treasury securities 1756.1 -- 155.4 -- -- 23600.9 1111.9 -- 3023.4 23600.9 14554.2 -- 7070.8 -- 24648.4 23600.9 -1047.516 Agency- and GSE-backed sec. 331.9 -- 25.1 -- 0.0 20.2 466.5 -- 823.4 20.2 8396.7 10066.5 1195.7 -- 10415.8 10086.7 -329.117 Municipal securities 1951.7 202.5 31.6 590.6 -- -- 18.6 3185.6 2001.9 3978.7 2234.0 -- 108.5 -- 4344.4 3978.7 -365.718 Corporate and fgn. bonds 524.7 -- -- 6477.3 0.5 -- 226.9 -- 752.2 6477.3 10129.1 4416.9 4445.8 3546.3 15327.1 14440.5 -886.619 Loans 1264.4 16508.0 130.6 10518.3 1927.2 0.0 261.7 22.1 3583.9 27048.4 25238.9 1924.7 904.0 753.6 29726.8 29726.8 -- 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 -- 2378.2 419.0 0.0 -- 22.1 1575.7 3172.8 2065.5 1317.4 904.0 55.0 4545.2 4545.2 -- 22 Mortgages 83.6 11180.1 94.8 5374.0 127.2 0.0 261.7 -- 567.3 16554.1 16213.4 226.6 -- -- 16780.7 16780.7 -- 23 Consumer credit 24.1 4184.9 35.8 -- 1381.0 -- -- -- 1440.9 4184.9 2744.0 -- -- -- 4184.9 4184.9 -- 24 Corporate equities 25634.1 -- 2553.7 41962.3 33.2 -- 250.0 -- 28471.0 41962.3 25985.4 12407.5 10449.3 10535.9 64905.7 64905.7 -- 25 Mutual fund shares 11074.9 -- 376.4 -- -- -- 112.8 -- 11564.1 -- 6969.2 19562.6 1029.2 -- 19562.6 19562.6 -- 26 Trade credit 279.0 376.3 5035.3 3670.8 84.9 435.5 256.7 1097.2 5655.8 5579.7 376.3 397.2 430.0 81.6 6462.1 6058.5 -403.527 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 29798.3 -- -- -- -- -- -- -- 29798.3 -- 291.3 29964.2 2.4 127.8 30092.0 30092.0 -- 29 Taxes payable -- -- -- 450.9 437.0 -- 194.0 -- 631.0 450.9 -- 164.3 -- -- 631.0 615.1 -15.930 Equity in noncorp. business 12880.8 -- -- 12790.5 -- -- -- -- 12880.8 12790.5 -- 90.3 -- -- 12880.8 12880.8 -- 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 1368.2 36.6 10634.3 11507.6 337.7 2366.9 57.9 4037.0 12398.2 17948.2 16678.3 9117.8 59.1 263.0 29135.6 27329.0 -1806.6General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24), equity in noncorporate business (line 30), and foreign direct investment in the U.S. (FDI) equity (line 34) for domestic sectors or U.S. direct investment abroad equity for the rest of the world (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
Summary

4 Z.1, December 9, 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, December 9, 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 9.12 11.58 13.44 5.57 5.69 3.17 8.31 11.91 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 7.69 3.92 4.38 10.42 21.42

2007 8.17 7.14 7.20 6.11 12.56 11.74 4.66 6.31 13.65 15.44

2008 5.74 -0.04 0.74 1.31 5.77 4.11 21.44 1.40 4.53 -10.39

2009 3.65 0.43 0.88 -3.58 -3.94 -4.92 20.41 4.80 -9.84 14.53

2010 4.35 -0.61 -1.50 -1.10 -0.72 -0.88 18.53 2.86 -4.18 9.53

2011 3.63 0.13 -0.59 4.13 2.42 5.11 10.82 -0.92 -3.13 7.23

2012 4.71 0.53 -1.09 5.76 5.64 6.32 10.12 -0.10 -0.89 8.43

2013 4.19 2.34 -0.12 6.10 4.88 6.22 6.67 -0.21 1.44 9.49

2014 3.79 1.18 -0.05 7.09 6.80 6.79 5.37 -2.32 1.98 8.64

2015 4.36 2.25 1.27 7.05 7.01 7.81 5.02 0.43 1.21 0.98

2016 4.35 3.10 2.06 6.95 5.13 3.34 5.56 0.98 2.82 1.19

2017 4.21 3.91 3.06 5.34 6.07 4.23 3.74 -0.03 2.33 12.07

2018 4.71 3.10 2.96 4.51 4.41 3.88 7.58 -1.23 2.04 5.09

2019 4.68 3.29 2.87 4.62 4.86 4.97 6.58 -0.04 2.11 5.17

2020 12.35 3.82 4.26 -0.29 8.90 9.17 24.06 2.94 5.49 1.56

2016 -- Q1 5.90 2.24 1.16 7.52 8.47 8.75 8.08 1.35 5.11 -3.74

 Q2 4.71 3.46 2.18 6.46 4.31 2.11 6.70 2.29 3.20 1.70

 Q3 4.66 3.98 2.46 6.68 5.71 4.49 5.16 0.79 3.75 -1.83

 Q4 1.88 2.61 2.41 6.43 1.67 -2.08 1.87 -0.50 -0.87 8.32

2017 -- Q1 3.50 3.61 3.41 5.27 5.80 3.89 2.58 -2.19 2.46 10.09

 Q2 4.91 3.95 2.80 4.73 6.90 5.70 5.15 -0.53 3.13 7.22

 Q3 4.10 2.67 2.74 4.29 5.56 3.65 5.03 -0.47 3.46 11.65

 Q4 4.04 5.20 3.18 6.67 5.39 3.32 2.00 3.08 0.20 16.26

2018 -- Q1 6.86 3.24 2.76 4.62 4.16 3.60 14.36 -2.73 1.34 10.23

 Q2 4.26 3.27 3.26 3.49 3.37 2.30 6.66 0.14 1.69 3.57

 Q3 3.96 3.13 3.28 4.32 5.01 4.85 4.44 0.26 2.06 5.56

 Q4 3.40 2.64 2.41 5.30 4.60 4.21 4.10 -2.61 3.02 0.83

2019 -- Q1 5.78 2.11 2.50 4.30 6.73 8.14 9.56 -2.24 1.97 -3.70

 Q2 3.50 4.20 3.20 4.88 4.26 4.37 3.15 -1.73 3.20 9.89

 Q3 5.81 3.19 3.25 4.42 5.86 6.30 8.86 0.79 2.68 7.33

 Q4 3.33 3.50 2.43 4.56 2.25 0.74 4.15 3.03 0.54 5.98

2020 -- Q1 11.68 3.57 3.52 0.63 18.92 24.06 14.09 0.97 27.51 -13.03

 Q2 26.76 -0.10 3.00 -5.58 15.29 15.43 62.50 3.54 -10.22 5.08

 Q3 4.15 5.55 5.52 1.80 0.18 -3.12 6.03 5.58 -1.14 1.95

 Q4 5.09 6.08 4.76 2.07 0.45 -0.28 8.42 1.56 6.31 12.36

2021 -- Q1 6.73 6.74 5.62 3.63 4.29 4.66 8.98 3.47 5.67 18.13

 Q2 6.51 7.78 8.04 7.98 1.75 1.55 9.58 3.17 6.33 3.46

 Q3 2.36 6.16 7.81 5.28 3.86 6.02 -1.32 1.70 4.59 16.03

1. Debt securities and loans. Data shown are on an end-of-period basis.
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6 Z.1, December 9, 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 1081.4 455.2 303.2 97.1 570.8 388.1 -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 2128.8 1132.5 929.4 117.2 406.5 152.6 402.8 186.9 1091.1 91.4

2005 2293.9 1175.9 1081.2 100.4 605.4 266.9 346.9 165.7 1139.4 98.9

2006 2443.2 1289.7 1000.3 120.1 818.2 403.8 219.1 116.2 1431.0 283.9

2007 2533.9 958.1 715.5 150.2 1130.5 664.4 270.4 175.0 2064.8 251.7

2008 1924.0 -5.1 79.1 34.3 585.3 260.1 1302.5 41.3 783.4 -203.6

2009 1288.4 60.9 92.7 -94.6 -421.7 -324.1 1505.8 143.3 -1771.0 227.0

2010 1576.3 -85.5 -156.3 -28.2 -73.6 -54.3 1645.9 89.4 -672.5 187.7

2011 1369.6 17.5 -58.7 109.4 243.2 310.3 1138.7 -29.8 -471.2 162.5

2012 1831.4 72.9 -107.0 158.7 581.2 403.8 1180.6 -3.3 -129.9 208.3

2013 1700.4 320.5 -11.8 177.6 529.3 420.1 857.3 -6.8 204.9 268.3

2014 1597.3 163.5 -4.8 219.1 771.8 486.1 735.9 -73.9 285.5 256.8

2015 1904.1 315.9 119.5 233.5 850.1 597.6 724.6 13.5 177.2 32.2

2016 1977.5 440.6 196.0 236.2 663.5 274.2 842.7 30.7 411.8 38.3

2017 1992.7 570.8 295.7 194.3 824.3 358.7 598.6 -1.0 349.3 399.7

2018 2330.8 470.2 293.7 172.7 641.4 348.0 1258.1 -38.8 312.9 197.7

2019 2440.1 512.8 293.1 185.2 753.7 479.8 1174.9 -1.3 329.9 206.7

2020 6736.6 614.9 446.8 -12.0 1448.9 929.2 4581.2 91.6 873.9 69.9

2016 -- Q1 2680.7 318.0 110.4 255.7 1095.8 718.7 1224.6 42.2 746.0 -120.8

 Q2 2171.8 493.9 207.0 223.7 569.6 177.4 1036.5 71.8 473.1 56.0

 Q3 2171.7 572.5 235.1 235.3 762.6 378.5 811.8 24.8 558.5 -61.5

 Q4 885.9 378.2 231.4 230.2 226.0 -177.7 297.7 -15.9 -130.3 279.8

2017 -- Q1 1659.6 527.4 329.0 191.6 787.8 330.2 413.8 -69.3 368.7 334.2

 Q2 2350.1 582.0 272.2 174.2 955.4 491.9 829.2 -16.5 471.2 249.1

 Q3 1986.3 396.4 268.3 160.1 783.4 319.3 821.4 -14.9 526.0 414.8

 Q4 1974.6 777.3 313.4 251.4 770.5 293.5 330.3 96.5 31.4 600.8

2018 -- Q1 3394.8 490.8 274.4 177.0 604.7 323.3 2385.4 -86.0 205.1 397.8

 Q2 2143.3 499.1 326.0 135.4 495.0 208.2 1144.9 4.3 260.0 141.5

 Q3 2026.4 481.6 330.2 168.8 759.6 458.0 777.0 8.2 318.3 218.8

 Q4 1758.7 409.2 244.3 209.6 706.2 402.3 725.1 -81.8 468.1 32.9

2019 -- Q1 3011.3 329.3 254.8 172.4 1044.3 785.6 1707.4 -69.7 307.9 -148.1

 Q2 1851.2 657.9 328.2 197.8 671.5 430.8 575.3 -53.5 502.0 401.3

 Q3 3097.5 505.0 335.9 181.2 934.2 627.5 1634.0 24.4 423.7 312.0

 Q4 1800.2 559.0 253.4 189.2 364.6 75.3 782.8 93.8 86.1 261.7

2020 -- Q1 6365.9 574.7 368.5 26.4 3078.5 2438.1 2682.6 30.2 4382.1 -585.3

 Q2 15019.7 -16.1 317.5 -234.7 2605.6 1658.1 12319.5 110.7 -1740.5 215.2

 Q3 2483.1 900.6 587.8 74.5 31.9 -348.1 1374.7 175.7 -189.1 87.3

 Q4 3077.5 1000.3 513.2 86.0 79.5 -31.4 1947.8 50.0 1043.2 562.6

2021 -- Q1 4120.9 1126.6 613.8 151.8 760.8 515.0 2122.3 111.2 952.8 863.9

 Q2 4052.3 1321.4 890.3 337.0 313.6 173.7 2314.9 102.4 1079.1 166.0

 Q3 1490.7 1067.6 881.9 227.4 694.9 676.6 -327.1 55.4 793.8 784.1

(1) Debt securities and loans.
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Z.1, December 9, 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 3910.1 4395.1 1143.8 6655.4 806.0

1999 18288.7 6687.9 4434.5 1553.6 6054.8 4312.0 4365.0 1181.0 7765.4 776.7

2000 19172.5 7287.8 4816.8 1741.3 6596.8 4658.1 4090.0 1197.9 8675.5 837.1

2001 20261.5 7916.4 5324.9 1891.8 6896.6 4794.2 4145.2 1303.4 9689.9 829.5

2002 21618.5 8693.8 6031.1 1997.0 7049.5 4789.7 4427.3 1447.9 10526.4 944.5

2003 23343.7 9782.8 6914.9 2102.9 7144.5 4809.9 4848.0 1568.4 11536.7 1144.4

2004 26256.3 10940.6 7859.1 2220.1 7575.1 4986.5 5250.9 2489.8 12642.7 1265.4

2005 28537.3 12116.4 8940.4 2320.6 8180.5 5253.4 5584.8 2655.5 13727.6 1325.7

2006 30998.1 13421.7 9940.3 2456.7 9000.7 5658.3 5803.9 2771.8 15126.4 1630.2

2007 33508.7 14351.5 10625.0 2609.5 10136.1 6329.3 6074.3 2946.7 17301.8 1959.7

2008 35294.2 14219.6 10577.3 2643.8 10709.7 6584.4 7376.8 2988.0 18004.4 1562.1

2009 36263.8 14057.7 10441.3 2555.0 10192.1 6175.9 8882.6 3131.3 16098.6 1968.9

2010 37681.6 13866.2 9992.3 2646.8 10060.1 6073.4 10528.6 3226.7 15067.5 2247.7

2011 38895.8 13735.6 9785.5 2756.2 10296.1 6383.7 11667.3 3196.9 14517.4 2469.8

2012 40548.6 13668.0 9537.1 2912.9 10839.2 6754.0 12847.8 3193.7 14250.9 2827.9

2013 42144.5 13900.3 9437.0 3090.5 11352.2 7162.6 13705.1 3186.9 14399.9 2973.5

2014 43694.4 14018.8 9387.3 3309.5 12121.6 7649.2 14441.1 3113.0 14665.9 3284.8

2015 45414.8 14191.3 9492.8 3400.2 12931.4 8211.4 15165.6 3126.5 14612.6 3231.4

2016 47355.9 14602.0 9658.8 3636.4 13588.5 8481.0 16008.3 3157.2 15001.6 3311.7

2017 49459.0 15147.0 9928.8 3830.8 14548.9 8977.5 16606.9 3156.1 15314.5 3887.7

2018 52100.1 15602.2 10203.9 4007.0 15515.6 9652.0 17865.0 3117.3 15612.1 4002.2

2019 54525.2 16099.1 10481.2 4192.2 16270.1 10133.6 19039.9 3116.0 15931.2 4490.7

2020 61257.6 16710.5 10919.7 4184.9 17718.4 11062.8 23621.1 3207.7 16799.0 4763.7

2016 -- Q1 46075.4 14261.8 9511.4 3464.1 13204.8 8391.0 15471.8 3137.0 14793.4 3294.3

 Q2 46610.2 14377.6 9555.5 3520.1 13346.8 8435.4 15730.9 3155.0 14904.2 3359.8

 Q3 47145.2 14513.2 9606.8 3578.9 13536.9 8530.0 15933.9 3161.2 15038.4 3362.1

 Q4 47355.9 14602.0 9658.8 3636.4 13588.5 8481.0 16008.3 3157.2 15001.6 3311.7

2017 -- Q1 47828.5 14727.1 9734.4 3684.3 13849.8 8628.3 16111.7 3139.9 15068.3 3450.3

 Q2 48408.1 14865.1 9794.9 3727.9 14088.2 8751.3 16319.0 3135.7 15182.1 3559.9

 Q3 48898.2 14958.1 9855.9 3767.9 14283.7 8831.1 16524.4 3132.0 15309.8 3693.6

 Q4 49459.0 15147.0 9928.8 3830.8 14548.9 8977.5 16606.9 3156.1 15314.5 3887.7

2018 -- Q1 50303.9 15266.1 9993.8 3875.0 14699.9 9058.3 17203.3 3134.6 15363.7 3965.0

 Q2 51157.0 15382.0 10070.4 3904.9 15149.8 9436.9 17489.5 3135.7 15421.7 3933.6

 Q3 51665.3 15504.5 10147.4 3954.6 15339.3 9551.4 17683.7 3137.8 15498.0 3981.1

 Q4 52100.1 15602.2 10203.9 4007.0 15515.6 9652.0 17865.0 3117.3 15612.1 4002.2

2019 -- Q1 52849.3 15679.4 10262.5 4050.1 15778.2 9850.2 18291.9 3099.9 15682.6 4058.9

 Q2 53308.1 15840.1 10340.7 4099.6 15945.9 9957.9 18435.7 3086.5 15808.6 4253.5

 Q3 54078.8 15962.9 10421.3 4144.9 16179.2 10114.8 18844.2 3092.6 15912.2 4373.8

 Q4 54525.2 16099.1 10481.2 4192.2 16270.1 10133.6 19039.9 3116.0 15931.2 4490.7

2020 -- Q1 56118.4 16244.8 10570.6 4203.5 17039.5 10743.1 19710.5 3123.6 17024.5 4239.3

 Q2 59871.4 16238.9 10648.1 4144.8 17690.8 11157.7 22790.4 3151.2 16587.9 4468.2

 Q3 60489.9 16461.9 10792.9 4163.4 17698.7 11070.6 23134.1 3195.2 16539.2 4552.7

 Q4 61257.6 16710.5 10919.7 4184.9 17718.4 11062.8 23621.1 3207.7 16799.0 4763.7

2021 -- Q1 62286.6 16991.0 11072.0 4222.9 17908.6 11191.5 24151.6 3235.5 17036.6 4801.9

 Q2 63298.6 17320.3 11293.6 4307.1 17986.9 11235.0 24730.4 3261.1 17305.9 4890.8

 Q3 63681.1 17586.4 11513.2 4364.0 18171.2 11410.2 24648.6 3274.9 17488.0 5049.0

(1) Debt securities and loans. Data are shown on an end-of-period basis.
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8 Z.1, December 9, 2021

B.1 Derivation of U.S. Net Wealth

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL892090005 U.S. net wealth (1) 105093.8 115824.7 95424.4 102926.3 107374.3 115824.7 122377.8 128871.3 130929.0 1

 2 LM152010005 Households’ direct holdings of nonfinancial assets 39932.4 43522.3 40635.9 41369.8 42331.4 43522.3 44947.6 46881.7 48621.0 2

 3 LM155035005 Real estate 33548.4 36749.5 34212.2 34935.0 35671.1 36749.5 37978.0 39484.8 40924.9 3

 4 LM165015205 Equipment (nonprofits) 459.3 485.6 468.4 474.0 479.6 485.6 495.5 498.6 510.6 4

 5 LM165013765 Intellectual property products (nonprofits) 194.2 206.1 196.7 200.2 202.9 206.1 207.1 209.4 211.4 5

 6 LM155111005 Consumer durable goods 5730.5 6081.0 5758.7 5760.7 5977.8 6081.0 6267.1 6688.9 6974.1 6

 7 LM112010005 Nonfin. noncorporate businesses nonfinancial assets 14599.4 15569.5 14716.4 14893.9 15149.3 15569.5 15895.9 16537.1 17196.5 7

 8 LM115035005 Real estate 13160.4 14098.3 13277.7 13454.5 13695.7 14098.3 14379.8 14991.1 15610.2 8

 9 LM115015205 Equipment 885.9 909.9 895.3 900.0 905.4 909.9 942.7 964.6 1003.8 9

 10 LM115013765 Intellectual property products 295.0 316.6 299.0 305.7 309.6 316.6 316.8 317.9 318.6 10

 11 LM115020005 Inventories 258.2 244.7 244.3 233.6 238.6 244.7 256.7 263.5 263.9 11

 12 LM662090003 Fin. noncorporate businesses nonfinancial assets (2) 83.5 90.3 84.8 88.5 87.1 90.3 93.8 98.0 99.6 12

 13 LM882010405 Domestic corporations’ nonfinancial assets 45624.9 53953.2 35722.0 43315.3 47068.8 53953.2 58700.5 63274.5 62761.0 13

 14 LM102010405 Nonfinancial corporations’ nonfinancial assets (3) 41671.1 50694.1 33923.9 41227.1 44920.3 50694.1 53965.5 58011.0 57461.9 14

 15 LM792010405 Financial corporations’ nonfinancial assets (3) 3953.8 3259.1 1798.1 2088.2 2148.5 3259.1 4734.9 5263.5 5299.1 15

 16 LM315015005 Federal government nonfinancial assets (4) 3603.7 3734.0 3629.3 3652.7 3694.0 3734.0 3784.9 3860.9 3931.8 16

 17 LM315015605 Structures 1674.0 1706.8 1681.1 1678.3 1696.0 1706.8 1736.7 1784.6 1823.7 17

 18 LM315013265 Equipment 812.7 851.3 820.3 828.5 838.7 851.3 860.0 874.0 888.1 18

 19 LM315013765 Intellectual property products 1117.1 1175.9 1127.9 1146.0 1159.3 1175.9 1188.2 1202.2 1220.0 19

 20 LM212010095 State and local governments nonfinancial assets (4) 12005.7 12412.8 12113.1 12113.4 12304.2 12412.8 12669.1 13023.2 13344.8 20

 21 LM215015605 Structures 11591.1 11980.6 11696.1 11690.9 11876.7 11980.6 12232.1 12578.9 12890.3 21

 22 LM215013265 Equipment 267.1 275.0 268.0 270.8 273.5 275.0 277.7 282.2 288.9 22

 23 LM215013765 Intellectual property products 147.5 157.2 148.9 151.8 153.9 157.2 159.3 162.2 165.6 23

 24 FL882090265 Net U.S. financial claims on the rest of the world -10755.7 -13457.4 -11477.0 -12507.2 -13260.5 -13457.4 -13713.9 -14804.0 -15025.7 24

 25 FL264194005 U.S. financial claims on the rest of the world 24165.7 26385.8 20741.8 22837.7 23689.9 26385.8 27331.7 28715.1 28958.9 25

 26 LM263164100 U.S. holdings of foreign corporate equities 9478.0 10535.9 7442.6 8574.9 9142.7 10535.9 11043.2 11733.4 11721.2 26

 27 FL264194035 Other U.S. financial claims 14687.7 15849.9 13299.1 14262.8 14547.2 15849.9 16288.5 16981.6 17237.7 27

 28 FL264090005 Less: Foreign financial claims on U.S. 34921.4 39843.1 32218.7 35344.9 36950.5 39843.1 41045.7 43519.1 43984.7 28

 29 LM263064105 Foreign holdings of U.S. corporate equities 8199.2 10449.3 6733.2 8131.4 8966.6 10449.3 11168.2 12092.6 12143.6 29

 30 FL264090035 Other foreign financial claims 26722.2 29393.8 25485.6 27213.5 27983.8 29393.8 29877.5 31426.5 31841.1 30

 Memo:

 31 FL892090005 A. U.S. net wealth (line 1) 105093.8 115824.7 95424.4 102926.3 107374.3 115824.7 122377.8 128871.3 130929.0 31

 32 FC892090005 Change in U.S. net wealth 10609.7 10730.9 -9669.4 7501.9 4448.0 8450.4 6553.1 6493.6 2057.7 32

 33 PC892090005 Percent change in U.S. net wealth 11.23 10.21 -9.20 7.86 4.32 7.87 5.66 5.31 1.60 33

 34 FL152090005 B. Household net worth (5) 116813.9 130916.1 110585.7 118584.7 122910.6 130916.1 136206.3 142347.1 144709.4 34

 35 FC152090005 Change in household net worth 12483.6 14102.2 -6228.2 7999.0 4325.8 8005.5 5290.3 6140.7 2362.3 35

 36 PC152090005 Percent change in household net worth 11.97 12.07 -5.33 7.23 3.65 6.51 4.04 4.51 1.66 36

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

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

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

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

(4) Excludes land and nonproduced nonfinancial assets.

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA086902005 Gross domestic product (GDP) 21372.6 20893.7 21481.4 19477.4 21138.6 21477.6 22038.2 22741.0 23187.0 1

 2 FA156901001 Personal consumption expenditures (2) 14428.7 14047.6 14439.1 12989.7 14293.8 14467.6 15005.4 15681.7 15952.4 2

 3 FA155011001 Durable goods 1513.3 1616.4 1484.9 1468.3 1753.3 1759.2 1957.8 2092.2 1995.9 3

 4 FA156901035 Nondurable goods 2965.6 3037.4 3046.0 2881.7 3113.9 3108.1 3287.2 3437.6 3510.0 4

 5 FA156901041 Services 9949.8 9393.7 9908.2 8639.8 9426.6 9600.4 9760.4 10151.9 10446.5 5

 6 FA835019905 Gross private domestic investment 3826.3 3637.8 3752.4 3167.0 3708.8 3923.2 3928.0 3925.1 4090.7 6

 7 FA835019005 Fixed investment (3) 3752.6 3697.4 3773.0 3456.9 3693.8 3865.9 4022.2 4099.4 4155.9 7

 8 FA835013001 Nonresidential 2938.7 2799.6 2900.1 2659.1 2776.6 2862.7 2956.7 3029.2 3072.8 8

 9 FA165013005 Nonprofit organizations (4) 213.7 217.1 217.2 186.6 232.7 232.0 236.6 238.3 241.5 9

 10 FA105013005 Nonfinancial corporate business 2108.0 1993.5 2067.7 1897.4 1975.9 2032.8 2097.2 2148.0 2178.9 10

 11 FA115013005 Nonfinancial noncorporate business 305.7 294.5 310.1 309.8 269.5 288.5 305.1 320.0 334.0 11

 12 FA795013005 Financial institutions 311.4 294.6 305.1 265.2 298.5 309.4 317.8 322.8 318.4 12

 13 FA835012001 Residential 813.9 897.8 872.9 797.8 917.2 1003.2 1065.5 1070.2 1083.1 13

 14 FA155012005 Household sector 673.4 738.5 719.0 652.8 752.9 829.3 867.3 856.6 871.6 14

 15 FA105012005 Nonfinancial corporate business 3.5 16.0 10.8 20.8 17.6 14.7 32.1 39.5 39.8 15

 16 FA115012005 Nonfinancial noncorporate business 130.0 140.5 137.1 124.9 144.0 155.9 164.2 163.0 165.2 16

 17 FA125012063 REITs 7.1 2.8 5.9 -0.7 2.8 3.3 1.9 11.2 6.6 17

 18 FA145020005 Change in private inventories 73.6 -59.6 -20.6 -289.9 15.0 57.3 -94.2 -174.3 -65.3 18

 19 FA105020005 Nonfinancial corporate business 73.3 -48.3 -11.3 -248.6 15.3 51.3 -80.2 -149.3 -52.3 19

 20 FA115020005 Nonfinancial noncorporate business 0.3 -11.2 -9.3 -41.4 -0.3 6.0 -14.1 -25.0 -12.9 20

 21 FA266903005 Net U.S. exports of goods and services -596.3 -651.2 -541.7 -538.9 -725.7 -798.4 -872.5 -881.7 -939.7 21

 22 FA266903011 Exports 2519.7 2123.4 2385.5 1807.9 2079.6 2220.7 2311.9 2461.5 2500.5 22

 23 FA266903001 - Imports 3116.0 2774.6 2927.3 2346.7 2805.3 3019.1 3184.5 3343.2 3440.2 23

 Government consumption expenditures and

 24 FA366902005 gross investment 3713.9 3859.5 3831.6 3859.6 3861.7 3885.3 3977.3 4015.9 4083.7 24

 25 FA366901005 Consumption expenditures (5) 2973.9 3078.0 3058.9 3084.9 3079.4 3088.7 3186.5 3223.4 3276.1 25

 26 FA316901001 Federal 1097.4 1161.4 1124.7 1187.6 1169.4 1164.1 1219.9 1208.1 1196.4 26

 27 FA216901001 State and local 1876.5 1916.5 1934.3 1897.3 1909.9 1924.7 1966.5 2015.3 2079.7 27

 28 FA365019005 Gross investment (5) 740.0 781.6 772.7 774.7 782.3 796.5 790.8 792.5 807.6 28

 29 FA315019001 Federal 317.5 340.3 330.0 337.4 345.7 348.2 348.7 355.1 365.6 29

 30 FA215019001 State and local 422.5 441.2 442.7 437.3 436.6 448.3 442.2 437.3 442.0 30

 Memo:

 31 FA266904005 Net U.S. income receipts from rest of world 266.4 222.3 239.9 172.0 226.8 250.6 234.8 230.4 248.3 31

 32 FA266904001 U.S. income receipts 1160.3 992.9 1048.9 883.5 996.1 1043.2 1081.6 1112.4 1156.5 32

 33 FA266904101 - U.S. income payments 893.9 770.6 809.0 711.5 769.2 792.5 846.7 882.0 908.2 33

 Gross national product (GNP) =

 34 FA086902105 GDP + net U.S. income receipts 21639.0 21116.1 21721.3 19649.4 21365.4 21728.2 22273.1 22971.4 23435.3 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 FA155420003 Household sector -14.0 -14.4 -14.1 -14.3 -14.4 -14.7 -14.8 -15.0 -15.3 35

 36 FA105420005 Nonfinancial corporate business -0.1 -0.2 -2.2 -2.7 6.8 -2.7 15.4 -2.8 15.0 36

 37 FA315420003 Federal government -2.6 -2.9 -0.3 -0.1 -11.1 -0.2 -18.3 -0.3 -18.2 37

 38 FA215420003 State and local governments 16.8 17.3 17.0 17.2 17.4 17.7 17.9 18.2 18.6 38

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

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA086010005 National income 18273.1 17710.7 18473.4 16241.3 17544.3 18583.8 19086.8 19575.1 20198.0 1

 2 FA156025105 Compensation of employees 11447.7 11572.2 11755.5 11029.2 11539.7 11964.2 12088.9 12416.6 12729.9 2

 3 FA156020101 Wages and salaries 9323.5 9444.1 9604.1 8979.0 9410.3 9783.0 9879.2 10180.4 10462.4 3

 4 FA156401101 Supplements to wages and salaries 2124.2 2128.0 2151.4 2050.2 2129.4 2181.1 2209.7 2236.2 2267.5 4

 5 FA146111105 Proprietors’ income with IVA and CCAdj 1598.9 1650.0 1638.3 1471.1 1760.7 1730.0 1714.0 1848.2 1854.2 5

 6 FA116112101 Rental income of persons with CCAdj 692.1 711.6 712.2 709.5 714.5 710.0 716.9 716.3 728.0 6

 7 FA096060035 Corporate profits with IVA and CCAdj 2367.8 2243.8 2169.5 1942.6 2435.4 2427.5 2551.4 2819.2 2940.6 7

 8 FA096060025 Corporate profits with IVA 2254.6 2165.9 2081.9 1864.0 2360.5 2357.2 2461.8 2747.7 2898.3 8

 9 FA096060005 Profits before tax 2254.6 2184.1 1988.8 1818.9 2448.4 2480.1 2711.3 3069.0 3139.1 9

 10 FA106060005 Domestic nonfinancial 1208.0 1226.8 1023.7 910.0 1491.5 1482.1 1725.1 2031.9 2041.7 10

 11 FA796060005 Domestic financial 533.2 502.5 486.0 500.6 502.4 521.0 519.9 576.9 597.1 11

 12 FA266060005 Rest of the world 513.4 454.7 479.1 408.3 454.5 477.0 466.4 460.2 500.3 12

 Less:

 13 FA096231001 Taxes on corporate income 302.2 275.6 245.4 241.2 300.3 315.6 343.7 378.6 396.9 13

 14 FA106231005 Domestic nonfinancial 203.6 189.6 162.8 158.7 214.1 222.7 244.8 276.1 287.2 14

 15 FA796231003 Domestic financial 98.6 86.0 82.7 82.4 86.2 92.9 98.9 102.5 109.7 15

 Equals:

 16 FA096060015 Profits after tax 1952.4 1908.4 1743.4 1577.7 2148.2 2164.5 2367.6 2690.4 2742.1 16

 17 FA096121073 Net dividends 1386.4 1394.9 1417.7 1395.7 1368.6 1397.5 1359.7 1411.0 1439.5 17

 18 FA106121075 Domestic nonfinancial 695.7 796.2 756.5 789.5 766.3 872.5 759.1 874.8 822.2 18

 19 FA796121073 Domestic financial 224.3 289.9 206.6 313.7 340.8 298.6 248.5 282.7 278.7 19

 20 FA266121073 Rest of the world 466.4 308.7 454.6 292.5 261.5 226.4 352.1 253.6 338.6 20

 21 FA096006401 Undistributed profits 566.0 513.6 325.7 182.1 779.5 767.0 1007.9 1279.4 1302.6 21

 22 FA106006405 Domestic nonfinancial 308.7 241.1 104.5 -38.2 511.1 386.8 721.2 881.1 932.3 22

 23 FA796006403 Domestic financial 210.2 126.5 196.8 104.5 75.5 129.4 172.4 191.7 208.7 23

 24 FA266006403 Rest of the world 47.1 146.0 24.4 115.9 193.0 250.7 114.3 206.6 161.6 24

 25 FA105020601 Inventory valuation adjustment (IVA) -0.0 -18.2 93.0 45.1 -88.0 -122.9 -249.5 -321.2 -240.8 25

 26 FA096310003 Capital consumption adjustment (CCAdj) 113.2 77.9 87.6 78.6 74.9 70.4 89.6 71.4 42.4 26

 27 FA106310005 Domestic nonfinancial 139.5 113.4 121.6 113.6 110.7 107.6 124.4 110.6 87.9 27

 28 FA796310003 Domestic financial -26.3 -35.5 -34.0 -35.0 -35.7 -37.3 -34.8 -39.1 -45.5 28

 29 FA086130003 Net interest and miscellaneous payments 558.2 618.8 566.9 619.3 623.0 666.1 695.2 693.6 683.0 29

 30 FA366240005 Taxes on production and imports 1532.3 1534.7 1577.1 1460.5 1544.0 1557.0 1580.1 1636.3 1661.6 30

 31 FA366402005 Less: Subsidies 73.0 761.4 80.9 1124.3 1221.2 619.2 406.3 705.6 555.1 31

 32 FA146403005 Business current transfer payments (net) 162.3 158.6 149.4 152.8 165.8 166.3 165.8 166.0 162.4 32

 33 FA156403101 To persons (net) 56.0 59.9 58.0 63.3 58.9 59.2 62.0 71.2 67.9 33

 34 FA366403145 To government (net) 95.7 97.8 93.3 95.1 99.7 103.2 98.4 94.4 94.0 34

 35 FA266403101 To rest of the world (net) 10.6 0.9 -1.9 -5.6 7.2 3.9 5.4 0.4 0.5 35

 36 FA366402105 Current surplus of government enterprises -13.3 -17.5 -14.6 -19.5 -17.7 -18.1 -19.3 -15.4 -6.6 36

 Memo:

 Calculation of gross domestic product

 from National income:

 37 FA086010005 National Income, from line 1 above 18273.1 17710.7 18473.4 16241.3 17544.3 18583.8 19086.8 19575.1 20198.0 37

 Plus:

 38 FA836300005 Private consumption of fixed capital 2848.6 2969.6 2924.5 2949.0 2981.5 3023.3 3071.2 3150.1 3243.9 38

 39 FA366300005 Government consumption of fixed capital 586.9 606.4 597.8 601.9 609.6 616.1 624.7 637.8 651.3 39

 40 FA087005005 Statistical discrepancy -69.7 -170.6 -274.5 -142.8 230.0 -495.0 -509.7 -391.7 -657.9 40

 Less:

 41 FA266904005 Net U.S. income receipts from rest of world 266.4 222.3 239.9 172.0 226.8 250.6 234.8 230.4 248.3 41

 Equals:

 42 FA086902005 Gross domestic product (2) 21372.6 20893.7 21481.4 19477.4 21138.6 21477.6 22038.2 22741.0 23187.0 42

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

(2) The relationship of National income (line 37) to Gross domestic product (line 42) is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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F.4 Saving and Investment by Sector (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA886000115 Gross saving 4156.1 4002.9 4347.5 3556.7 3596.3 4511.0 4423.0 4305.8 4681.4 1

 2 FA896006005 Net saving 720.5 426.9 825.2 5.8 5.2 871.6 727.0 517.9 786.2 2

 3 FA836006005 Net private saving 1917.0 3460.8 2117.7 5077.8 3587.9 3059.8 4827.7 3001.9 2843.3 3

 4 FA826006005 Domestic business 679.2 573.3 506.3 305.8 766.5 714.4 848.0 1029.6 1104.2 4

 5 FA106012005 Nonfinancial corporate business 487.5 457.8 451.3 375.0 517.4 487.7 525.3 599.1 618.0 5

 6 FA796012005 Financial business 191.7 115.4 55.0 -69.2 249.2 226.7 322.8 430.4 486.2 6

 7 FA156006005 Households and institutions 1237.8 2887.5 1611.4 4772.0 2821.3 2345.5 3979.7 1972.4 1739.1 7

 8 FA366006005 Net government saving -1196.5 -3033.9 -1292.5 -5072.0 -3582.6 -2188.3 -4100.6 -2484.0 -2057.1 8

 9 FA316006005 Federal -1047.5 -3110.0 -1158.0 -5625.6 -3516.3 -2140.1 -4088.9 -3312.7 -2249.9 9

 10 FA216006005 State and local -149.0 76.1 -134.6 553.6 -66.3 -48.2 -11.8 828.7 192.8 10

 11 FA886300095 Consumption of fixed capital 3435.6 3575.9 3522.3 3550.9 3591.0 3639.4 3696.0 3787.9 3895.2 11

 12 FA836300005 Private 2848.6 2969.6 2924.5 2949.0 2981.5 3023.3 3071.2 3150.1 3243.9 12

 13 FA826300003 Domestic business 2248.3 2338.6 2308.7 2327.5 2345.3 2372.9 2401.1 2455.6 2524.4 13

 14 FA106300003 Nonfinancial corporate business 1644.8 1707.6 1688.0 1701.2 1711.6 1729.6 1748.4 1783.7 1829.2 14

 15 FA116300001 Nonfinancial noncorporate business 351.7 364.1 359.0 361.4 365.5 370.6 377.4 387.8 399.8 15

 16 FA796300081 Financial business 251.8 266.8 261.6 265.0 268.1 272.7 275.3 284.1 295.4 16

 17 FA156300003 Households and institutions 600.3 631.0 615.9 621.5 636.2 650.4 670.1 694.4 719.5 17

 18 FA366300005 Government 586.9 606.4 597.8 601.9 609.6 616.1 624.7 637.8 651.3 18

 19 FA316300001 Federal 293.3 303.5 298.2 301.6 305.1 309.2 312.7 317.1 322.5 19

 20 FA216300001 State and local 293.7 302.8 299.6 300.3 304.5 306.9 312.0 320.7 328.9 20

 Gross domestic investment, capital account

 21 FA885090015 transactions, and net lending, NIPAs 4086.4 3832.3 4073.0 3413.9 3826.3 4016.0 3913.3 3914.2 4023.5 21

 22 FA885019905 Gross domestic investment 4566.3 4419.4 4525.1 3941.7 4491.1 4719.7 4718.8 4717.6 4898.3 22

 23 FA835019905 Gross private domestic investment 3826.3 3637.8 3752.4 3167.0 3708.8 3923.2 3928.0 3925.1 4090.7 23

 24 FA825019905 Domestic business 2939.2 2682.2 2816.1 2327.5 2723.2 2861.9 2824.1 2830.1 2977.5 24

 25 FA105019985 Nonfinancial corporate business 2191.8 1964.0 2079.5 1702.0 1986.0 2088.3 2047.2 2053.1 2188.0 25

 26 FA115050085 Nonfinancial noncorporate business 436.0 423.7 431.5 360.4 438.7 464.2 459.0 454.3 471.2 26

 27 FA795013005 Financial business 311.4 294.6 305.1 265.2 298.5 309.4 317.8 322.8 318.4 27

 28 FA155019005 Households and institutions 887.1 955.6 936.2 839.4 985.6 1061.3 1103.9 1094.9 1113.1 28

 29 FA365019005 Gross government investment 740.0 781.6 772.7 774.7 782.3 796.5 790.8 792.5 807.6 29

 30 FA315019001 Federal 317.5 340.3 330.0 337.4 345.7 348.2 348.7 355.1 365.6 30

 31 FA215019001 State and local 422.5 441.2 442.7 437.3 436.6 448.3 442.2 437.3 442.0 31

 32 FA265430003 Capital account transactions (net) (2) 6.9 5.9 11.9 4.2 2.7 4.9 14.6 3.9 -11.7 32

 33 FA835430005 Private -11.2 1.6 -1.1 -0.6 8.4 -0.6 -181.0 1.2 2.1 33

 34 FA825430005 Domestic business -12.5 13.4 -3.2 54.3 6.0 -3.4 14.8 -3.3 47.1 34

 35 FA105430005 Nonfinancial corporate business -12.5 13.4 -3.2 54.3 6.0 -3.4 14.8 -3.3 -22.8 35

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

 37 FA795440005 Financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 90.6 37

 38 FA155430005 Households and institutions 1.4 -11.9 2.1 -54.9 2.5 2.9 -195.7 4.5 -45.1 38

 39 FA365430005 Government 18.0 4.4 13.0 4.8 -5.8 5.5 195.6 2.7 -13.8 39

 40 FA315430005 Federal 75.2 69.7 74.4 72.6 61.3 70.6 258.9 68.6 59.8 40

 41 FA215430005 State and local -57.1 -65.3 -61.4 -67.8 -67.1 -65.1 -63.3 -65.9 -73.6 41

 42 FA885000905 Net lending (+) or net borrowing (-), NIPAs (3) -486.7 -593.0 -463.9 -532.0 -667.4 -708.7 -820.1 -807.3 -863.1 42

 43 FA835000905 Private 880.9 2620.4 1016.4 4717.6 3082.1 1665.6 3642.3 1834.1 1336.5 43

 44 FA825000905 Domestic business -68.8 45.7 -272.5 108.7 612.6 -266.2 -99.4 266.7 -54.0 44

 45 FA105000995 Nonfinancial corporate business (3) -116.5 17.5 -211.5 177.0 467.0 -362.5 -298.0 -58.6 -376.0 45

 46 FA115000905 Nonfinancial noncorporate business -84.3 -59.5 -72.5 1.0 -73.1 -93.6 -81.6 -66.5 -50.7 46

 47 FA795000905 Financial business 132.0 87.7 11.5 -69.4 218.8 189.9 280.2 391.8 372.6 47

 48 FA155000905 Households and institutions 949.7 2574.7 1288.9 4608.9 2469.5 1931.8 3741.6 1567.4 1390.5 48

 49 FA365000905 Government -1367.6 -3213.4 -1480.4 -5249.6 -3749.5 -2374.2 -4462.4 -2641.4 -2199.6 49

 50 FA315000905 Federal -1146.9 -3216.5 -1264.1 -5733.9 -3618.2 -2249.7 -4383.7 -3419.2 -2352.9 50

 51 FA215000905 State and local -220.7 3.1 -216.2 484.4 -131.3 -124.5 -78.7 777.9 153.3 51

 52 FA087005005 Statistical discrepancy (line 21 less line 1) -69.7 -170.6 -274.5 -142.8 230.0 -495.0 -509.7 -391.7 -657.9 52

 Addenda:

 53 FA895404005 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 248.0 53

 54 FA835404005 Private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 232.0 54

 55 FA825404003 Domestic business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 136.0 55

 56 FA155404003 Households and institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96.0 56

 57 FA365404005 Government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16.0 57

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

 59 FA215404003 State and local 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16.0 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA895410005 Capital transfers paid, by sector 115.7 131.1 116.0 175.1 117.5 115.8 324.3 117.3 239.6 1

 2 FA825410005 By private business 0.0 14.5 0.0 58.0 0.0 0.0 0.0 0.0 94.8 2

 3 FA795410005 Financial corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 94.8 3

 4 FA515410073 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 94.8 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 14.5 0.0 58.0 0.0 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 93.9 91.8 92.5 92.0 92.1 90.4 297.7 89.9 100.6 8

 9 FA315410005 Federal 93.9 91.8 92.5 92.0 92.1 90.4 297.7 89.9 100.6 9

 10 FA215400033 Investment grants to state and local govts. 68.3 76.0 72.8 75.3 78.8 77.0 75.0 77.7 72.8 10

 11 FA315410073 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16.0 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 12.4 0.9 0.9 1.0 0.8 0.7 0.6 0.5 0.4 13

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

 15 FA315410063 Capital transfers paid to rest of world (net) 6.8 6.1 11.5 4.1 4.0 4.8 14.4 3.8 3.5 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 21.7 24.8 23.5 25.1 25.4 25.4 26.6 27.4 29.0 18

 19 FA315400053 Estate and gift taxes, federal 16.2 19.1 17.8 19.3 19.7 19.6 20.5 21.0 22.5 19

 20 FA215400053 Estate and gift taxes, state and local 5.6 5.7 5.7 5.7 5.7 5.8 6.2 6.4 6.5 20

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

 22 FA265410073 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.2 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 115.7 131.1 116.0 175.1 117.5 115.8 324.3 117.3 239.6 24

 25 FA825400005 By private business 12.4 0.9 0.9 1.0 0.8 0.7 0.6 0.5 62.7 25

 26 FA795400005 Financial corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.2 26

 27 FA515400073 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.2 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 12.4 0.9 0.9 1.0 0.8 0.7 0.6 0.5 37.8 29

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

 31 FA105400003 Other 12.4 0.9 0.9 1.0 0.8 0.7 0.6 0.5 0.4 31

 32 FA115400005 Noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20.7 32

 33 FA115400075 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20.7 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 90.1 101.8 96.3 104.3 104.2 102.4 101.7 105.1 114.6 35

 36 FA315400005 Federal 16.2 19.1 17.8 19.3 19.7 19.6 20.5 21.0 22.5 36

 37 FA315400053 Estate and gift taxes paid by persons 16.2 19.1 17.8 19.3 19.7 19.6 20.5 21.0 22.5 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 73.9 82.7 78.4 85.0 84.5 82.8 81.2 84.1 92.1 39

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

 41 FA215400053 Estate and gift taxes paid by persons 5.6 5.7 5.7 5.7 5.7 5.8 6.2 6.4 6.5 41

 42 FA215400033 Investment grants paid by federal government 68.3 76.0 72.8 75.3 78.8 77.0 75.0 77.7 72.8 42

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

 44 FA155400005 By persons 6.3 22.3 7.3 65.7 8.5 7.9 207.6 7.9 58.7 44

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

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

 47 FA265400005 By the rest of the world 6.8 6.1 11.5 4.1 4.0 4.8 14.4 3.8 3.5 47

 48 FA265400033 Capital transfers paid by U.S. government 6.8 6.1 11.5 4.1 4.0 4.8 14.4 3.8 3.5 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) -12.4 13.6 -0.9 57.0 -0.8 -0.7 -0.6 -0.5 32.1 51

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

 53 FA515440005 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 90.6 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) -12.4 13.6 -0.9 57.0 -0.8 -0.7 -0.6 -0.5 -37.8 61

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

 63 FA365440005 By government (lines 8-35) 3.8 -10.0 -3.8 -12.3 -12.1 -12.0 196.0 -15.2 -14.1 63

 64 FA315440005 Federal (lines 9-36) 77.8 72.6 74.7 72.7 72.4 70.8 277.2 68.9 78.1 64

 65 FA215440005 State and local (lines 16-39) -73.9 -82.7 -78.4 -85.0 -84.5 -82.8 -81.2 -84.1 -92.1 65

 66 FA155440005 By persons (lines 18-44) 15.4 2.5 16.2 -40.6 16.9 17.5 -181.0 19.5 -29.7 66

 67 FA265440005 By the rest of the world (lines 21-47) -6.8 -6.1 -11.5 -4.1 -4.0 -4.8 -14.4 -3.8 11.7 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA174090005 Net acquisition of financial assets 2429.2 3784.6 3809.4 6433.3 2044.3 2851.5 4038.1 2821.4 2148.3 1

 2 FA153091003 Foreign deposits -1.0 7.8 37.4 -25.8 15.8 3.7 5.5 -2.3 -4.6 2

 3 FA173020005 Checkable deposits and currency -25.3 1809.8 514.2 1663.0 915.1 4147.1 1526.8 1967.6 545.2 3

 4 FA173030005 Time and savings deposits 595.2 594.1 1320.8 2758.7 275.9 -1979.2 1975.4 -285.3 442.1 4

 5 FA173034005 Money market fund shares 417.6 346.4 930.5 1114.2 -213.4 -445.6 886.7 212.2 -146.4 5

 6 FA174022005 Debt securities 272.8 -445.5 253.9 -817.9 -1290.9 72.8 -2041.6 -955.8 284.6 6

 7 FA173061105 Treasury securities 175.0 -115.1 -509.6 -191.3 -120.7 361.0 -633.1 -814.9 81.5 7

 8 FA153061705 Agency- and GSE-backed securities 123.7 -328.5 89.0 -1052.3 -178.5 -172.2 -474.3 207.4 -264.5 8

 9 FA173062005 Municipal securities -65.9 -32.5 -3.8 -39.9 -2.8 -83.4 -106.3 -84.6 -115.6 9

 10 FA153063005 Corporate and foreign bonds 40.0 30.6 678.3 465.6 -988.9 -32.6 -827.9 -263.6 583.2 10

 11 FA174023005 Loans 35.3 120.7 635.0 -99.2 -146.9 93.8 50.3 58.5 200.0 11

 12 FA153064105 Corporate equities (2) 62.0 434.9 276.5 615.0 974.6 -126.5 742.2 949.2 53.0 12

 13 FA153064205 Mutual fund shares 320.9 -59.4 -1036.8 229.1 309.9 260.1 595.1 389.3 258.3 13

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

 15 FA153040005 Life insurance reserves 16.7 94.2 197.2 10.5 78.2 90.7 -81.3 27.6 53.0 15

 16 FA153050005 Pension entitlements 437.5 480.2 472.7 444.1 471.9 532.1 210.0 278.1 436.3 16

 17 FA173099005 Miscellaneous and other assets 289.9 393.9 200.4 533.8 646.6 194.8 162.0 175.3 19.9 17

 18 FA175050005 Gross investment in nonfinancial assets 2722.4 2877.4 2749.4 2592.3 3024.8 3143.0 3376.3 3495.4 3451.6 18

 19 FA175012005 Residential fixed investment 803.4 879.0 856.1 777.7 896.9 985.2 1031.6 1019.6 1036.8 19

 20 FA175013005 Nonresidential fixed investment 519.4 511.6 527.3 496.5 502.1 520.5 541.7 558.3 575.6 20

 21 FA155111003 Consumer durables 1413.4 1512.5 1389.4 1373.8 1640.5 1646.0 1831.9 1957.6 1867.6 21

 22 FA155420003 Nonproduced nonfinancial assets -14.0 -14.4 -14.1 -14.3 -14.4 -14.7 -14.8 -15.0 -15.3 22

 23 FA115020005 Inventories 0.3 -11.2 -9.3 -41.4 -0.3 6.0 -14.1 -25.0 -12.9 23

 24 FA176300005 Consumption of fixed capital 2106.5 2203.6 2165.4 2180.8 2201.8 2266.5 2269.5 2341.5 2463.4 24

 25 FA176320005 Residential fixed investment 540.7 567.5 558.9 563.6 569.8 577.8 587.0 602.0 619.9 25

 26 FA176330005 Nonresidential fixed investment 411.3 427.6 416.0 419.3 431.9 443.2 460.6 480.2 499.3 26

 27 FA156300103 Consumer durables 1154.5 1208.5 1190.5 1197.9 1200.1 1245.5 1221.9 1259.3 1344.1 27

 28 FA172010005 Net investment in nonfinancial assets (3) 615.9 673.8 584.0 411.6 823.0 876.5 1106.9 1153.9 988.3 28

 29 FA175012865 Residential fixed investment 262.6 311.4 297.2 214.1 327.1 407.4 444.6 417.6 416.8 29

 30 FA175013865 Nonresidential fixed investment 108.1 84.0 111.3 77.2 70.2 77.2 81.1 78.1 76.2 30

 31 FA155111005 Consumer durables 258.9 304.0 198.9 175.9 440.5 400.6 610.0 698.3 523.5 31

 32 FA155420003 Nonproduced nonfinancial assets -14.0 -14.4 -14.1 -14.3 -14.4 -14.7 -14.8 -15.0 -15.3 32

 33 FA115020005 Inventories 0.3 -11.2 -9.3 -41.4 -0.3 6.0 -14.1 -25.0 -12.9 33

 34 FA174190005 Net increase in liabilities 924.3 1222.0 1368.4 911.6 1414.6 1193.4 1587.3 1602.5 1236.1 34

 35 FA173165105 One-to-four-family residential mortgages 306.4 474.9 386.7 335.0 626.5 551.5 653.3 949.4 940.9 35

 36 FA173165205 Other mortgages 238.8 223.5 239.7 213.3 192.2 249.0 166.4 168.8 198.5 36

 37 FA153166000 Consumer credit 185.2 -12.0 26.4 -234.7 74.5 86.0 151.8 337.0 227.4 37

 38 FA173169005 Other loans and advances 32.5 264.6 70.1 114.3 411.3 462.7 399.3 189.9 -93.1 38

 39 FA173199005 Other liabilities 161.4 270.9 645.5 483.7 110.2 -155.9 216.3 -42.4 -37.6 39

 40 FA175440005 Net capital transfers paid (4) 15.4 2.5 16.2 -40.6 16.9 17.5 -181.0 19.5 -50.4 40

 41 FA176007025 Personal saving, FOF concept (FOF) 2136.3 3238.9 3041.2 5892.6 1469.6 2552.2 3376.8 2392.3 1850.1 41

 42 FA155111005 - Net investment in consumer durables 258.9 304.0 198.9 175.9 440.5 400.6 610.0 698.3 523.5 42

 43 FA313154015 - Government insurance and pension fund reserves (5) -2.2 -4.0 -4.2 -5.0 -3.6 -3.2 -1.9 -5.7 -0.1 43

 44 FA156600075 + Contr. for govt. soc. insur., U.S.-affiliated areas 5.2 5.1 5.2 4.9 5.0 5.2 5.3 5.4 5.6 44

 45 FA176007005 = Personal saving, NIPA concept (FOF) (6) 1884.8 2944.0 2851.7 5726.6 1037.8 2160.0 2774.0 1705.1 1332.3 45

 46 FA156007015 Personal saving, NIPA concept (NIPA) 1237.8 2887.5 1611.4 4772.0 2821.3 2345.5 3979.7 1972.4 1739.1 46

 47 FA176007085 Difference 647.0 56.5 1240.3 954.7 -1783.5 -185.5 -1205.6 -267.2 -406.7 47

 Memo:

 48 FA156012005 Disposable personal income 16219.3 17432.0 16600.6 18249.6 17595.7 17282.2 19455.3 18137.4 18183.5 48

 Personal saving as a percentage of disposable personal income:

 49 FA176007026 FOF concept (FOF data) (line 41) 13.17 18.58 18.32 32.29 8.35 14.77 17.36 13.19 10.17 49

 50 FA176007006 NIPA concept (FOF data) (line 45) 11.62 16.89 17.18 31.38 5.90 12.50 14.26 9.40 7.33 50

 51 FA156007016 NIPA concept (NIPA data) (line 46) 7.63 16.56 9.71 26.15 16.03 13.57 20.46 10.87 9.56 51

 52 FA176007086 Difference (line 47) 3.99 0.32 7.47 5.23 -10.14 -1.07 -6.20 -1.47 -2.24 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL174090005 Total financial assets 87680.3 98454.4 80868.1 88210.4 91718.1 98454.4 102308.4 106296.0 106616.7 1

 2 LM153091003 Foreign deposits 40.8 48.6 50.2 43.7 47.7 48.6 50.0 49.4 48.2 2

 3 FL173020005 Checkable deposits and currency 1511.3 3321.1 1711.9 2037.2 2171.0 3321.1 3769.1 4160.8 4210.7 3

 4 FL173030005 Time and savings deposits 10941.0 11534.6 11299.3 11885.7 11985.0 11534.6 12054.8 11882.9 12022.0 4

 5 FL173034005 Money market fund shares 2321.1 2667.6 2510.7 2778.3 2746.0 2667.6 2848.6 2893.3 2876.0 5

 6 FL174022005 Debt securities 4850.2 4651.0 4706.3 4460.1 4263.9 4651.0 4025.1 3703.4 3882.4 6

 7 FL173061105 Treasury securities 1851.0 1836.3 1504.3 1408.0 1483.1 1836.3 1605.0 1334.5 1477.8 7

 8 LM153061705 Agency- and GSE-backed securities 685.2 331.9 699.9 452.1 383.2 331.9 202.6 284.9 201.2 8

 9 FL173062005 Municipal securities 1937.4 1958.1 1915.3 1939.3 1946.8 1958.1 1917.7 1909.4 1849.2 9

 10 LM153063005 Corporate and foreign bonds 376.6 524.7 586.8 660.6 450.8 524.7 299.8 174.7 354.1 10

 11 FL174023005 Loans 1199.7 1320.4 1358.4 1333.6 1296.9 1320.4 1332.9 1347.6 1397.6 11

 12 FL153069005 Other loans and advances 1038.6 1156.6 1196.4 1170.5 1133.3 1156.6 1168.9 1185.2 1235.7 12

 13 FL173065005 Mortgages 133.8 139.6 136.0 138.0 139.3 139.6 140.1 138.7 138.5 13

 14 FL173066005 Consumer credit 27.3 24.1 26.1 25.1 24.3 24.1 23.9 23.6 23.3 14

 15 LM153064105 Corporate equities (2) 20989.2 25634.1 16420.2 20107.1 22197.5 25634.1 28033.6 30547.3 30402.0 15

 16 LM153064205 Mutual fund shares 9966.1 11074.9 8143.8 9433.1 10025.6 11074.9 11567.8 12265.6 12233.5 16

 17 FL163070005 Trade receivables 271.3 279.0 273.2 275.2 277.1 279.0 280.7 282.4 284.2 17

 18 FL153040005 Life insurance reserves 1731.3 1867.0 1733.7 1776.1 1811.9 1867.0 1854.2 1886.5 1897.1 18

 19 FL153050005 Pension entitlements 27994.2 29798.3 26751.0 28039.8 28697.1 29798.3 30198.2 30942.0 31026.9 19

 20 FL173099005 Miscellaneous and other assets 5864.1 6257.9 5909.3 6040.5 6198.4 6257.9 6293.4 6334.9 6336.1 20

 21 FL174190005 Total liabilities 25398.1 26630.1 25634.7 25889.4 26288.3 26630.1 26945.5 27367.8 27724.8 21

 22 FL173165105 One-to-four-family residential mortgages 11169.8 11635.9 11234.6 11319.9 11487.5 11635.9 11768.3 12007.5 12252.4 22

 23 FL173165205 Other mortgages 3969.3 4192.8 4029.2 4082.5 4130.6 4192.8 4234.4 4276.6 4330.8 23

 24 FL153166000 Consumer credit 4192.2 4184.9 4147.8 4097.3 4142.7 4184.9 4167.2 4259.6 4343.3 24

 25 FL173169005 Other loans and advances 860.3 1124.9 879.9 906.2 1006.5 1124.9 1226.7 1272.0 1246.1 25

 26 FL173199005 Other liabilities 5206.6 5491.6 5343.2 5483.5 5521.1 5491.6 5548.9 5552.1 5552.2 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).
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Z.1, December 9, 2021 15

F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA386000105 Gross saving less net capital transfers paid 5111.1 5119.2 5288.9 4564.8 4885.0 5737.9 5800.2 5780.2 6156.6 1

 2 FA385090005 Gross investment 6227.0 4988.0 6610.8 3650.1 5088.0 4603.2 4101.9 5461.4 6494.8 2

 3 FA385050005 Capital expenditures 5661.2 5634.2 5603.7 5051.1 5829.0 6053.1 6231.2 6341.3 6440.9 3

 4 FA155111003 Consumer durables 1413.4 1512.5 1389.4 1373.8 1640.5 1646.0 1831.9 1957.6 1867.6 4

 5 FA385012005 Fixed residential investment 813.9 904.7 876.2 808.1 924.2 1010.1 1073.7 1069.0 1086.6 5

 6 FA385013005 Fixed nonresidential investment 3360.2 3276.9 3358.3 3159.0 3250.6 3339.6 3419.6 3488.9 3552.0 6

 7 FA145020005 Inventory change 73.6 -59.6 -20.6 -289.9 15.0 57.3 -94.2 -174.3 -65.3 7

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

 9 FA385000005 Net lending (+) or net borrowing (-) 565.8 -646.2 1007.1 -1401.0 -741.1 -1450.0 -2129.3 -879.9 53.8 9

 10 FA384090005 Net acqisition of financial assets 4955.6 7290.3 7443.3 14002.3 4375.9 3339.6 3282.2 3572.0 2688.9 10

 11 FA313011005 U.S. official reserve assets 4.6 8.9 -1.0 19.8 7.2 9.8 -8.5 1.8 436.1 11

 12 FA383091005 Foreign deposits 23.7 19.4 -41.1 110.2 72.9 -64.3 2.3 137.5 -36.6 12

 13 FA383020005 Checkable deposits and currency 132.1 3892.3 2355.1 8300.3 1275.3 3638.4 -454.8 931.6 -1655.3 13

 14 FA383030005 Time and savings deposits 629.6 690.4 1763.6 2901.0 301.3 -2204.2 1974.0 -332.6 561.2 14

 15 FA383034005 Money market fund shares 516.6 473.9 2452.8 947.1 -975.0 -529.2 747.0 160.3 -38.0 15

 16 FA382051005 Security repurchase agreements -2.5 45.7 47.3 71.5 10.2 54.0 -25.9 64.2 -0.7 16

 17 FA384022005 Debt securities 377.9 -167.9 518.4 -182.9 -1255.4 248.0 -1997.5 -28.9 666.8 17

 18 FA383069105 Open market paper 54.8 40.0 51.3 -37.6 76.7 69.4 -47.6 150.3 46.6 18

 19 FA383061105 Treasury securities 233.1 186.0 -374.7 623.4 -44.9 539.9 -433.3 -5.8 433.4 19

 20 FA383061705 Agency- and GSE-backed securities 128.5 -395.5 136.5 -1222.8 -247.2 -248.5 -551.4 197.8 -299.3 20

 21 FA383062005 Municipal securities -62.0 -30.7 -3.8 -35.5 -0.9 -82.7 -101.6 -82.1 -110.4 21

 22 FA383063005 Corporate and foreign bonds 23.4 32.4 709.2 489.6 -1039.2 -30.1 -863.6 -289.0 596.5 22

 23 FA384023005 Loans 128.5 381.6 691.6 448.9 159.8 226.0 162.8 168.7 274.4 23

 24 FA383069005 Other loans and advances 49.1 306.2 617.3 354.3 115.5 137.6 79.0 99.9 231.7 24

 25 FA383065005 Mortgages 1.1 16.8 3.3 29.1 16.5 18.2 16.6 5.8 12.1 25

 26 FA383066005 Consumer credit 78.3 58.6 71.0 65.4 27.9 70.2 67.1 63.0 30.6 26

 27 FA383064105 Corporate equities 68.8 304.5 170.5 488.6 837.7 -279.0 611.7 818.7 -77.5 27

 28 FA383064205 Mutual fund shares 327.4 -47.6 -1025.0 240.9 321.7 271.9 607.0 401.2 270.1 28

 29 FA383070005 Trade receivables 613.0 108.1 -340.5 -913.2 973.0 713.2 748.6 811.4 794.6 29

 30 FA153040005 Life insurance reserves 16.7 94.2 197.2 10.5 78.2 90.7 -81.3 27.6 53.0 30

 31 FA153050005 Pension entitlements 437.5 480.2 472.7 444.1 471.9 532.1 210.0 278.1 436.3 31

 32 FA383078005 Taxes payable -10.7 -5.5 -50.1 323.2 -315.3 20.2 -39.2 -266.3 -159.2 32

 33 FA152090205 Equity in noncorporate business 17.9 10.1 4.2 1.3 9.0 25.7 -30.5 30.2 21.2 33

 34 FA103092005 U.S. direct investment abroad 20.0 226.5 -58.3 503.3 164.8 296.0 251.8 421.7 266.5 34

 35 FA383090005 Miscellaneous assets 1654.7 775.6 285.9 287.7 2238.5 290.2 604.7 -53.3 876.1 35

 36 FA384194005 Net increase in liabilities and equity 4389.7 7936.5 6436.2 15403.3 5116.9 4789.5 5411.5 4452.0 2635.1 36

 37 FA384190005 Net increase in liabilities 4619.7 7920.9 6698.5 15344.5 4905.4 4735.0 5262.5 4626.5 3041.9 37

 38 FA313111303 U.S. official reserve assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 451.2 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 -0.5 -0.0 0.0 0.0 -0.2 0.0 0.0 0.0 -0.5 40

 41 FA384122005 Debt securities 1439.5 5278.7 3424.8 13895.3 1730.0 2064.7 2446.5 2619.1 -629.6 41

 42 FA103169100 Open market paper -1.9 -62.3 -21.4 -271.3 -70.6 114.0 -223.5 113.2 40.8 42

 43 FA313161105 Treasury securities 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 -1048.1 43

 44 FA313161705 Agency- and GSE-backed securities -1.7 -1.0 -0.1 -0.7 -3.5 0.2 -1.5 -0.0 -1.3 44

 45 FA383162005 Municipal securities 9.6 84.4 32.6 98.9 184.0 21.9 119.8 116.7 71.1 45

 46 FA103163003 Corporate and foreign bonds 257.0 675.5 731.1 1748.1 241.9 -19.0 427.9 74.4 307.9 46

 47 FA384123005 Loans 1000.6 1457.9 2941.1 1124.5 753.0 1012.8 1674.4 1433.2 2120.3 47

 48 FA383168005 Depository institution loans n.e.c. 58.1 271.3 1838.6 509.6 -774.0 -489.1 29.5 -506.9 -321.3 48

 49 FA383169005 Other loans and advances 161.5 453.6 391.5 259.4 590.5 573.1 593.4 372.0 945.2 49

 50 FA383165005 Mortgages 595.8 744.9 684.6 590.2 862.0 842.7 899.7 1231.1 1269.0 50

 51 FA153166000 Consumer credit 185.2 -12.0 26.4 -234.7 74.5 86.0 151.8 337.0 227.4 51

 52 FA383170005 Trade payables 364.5 181.2 -182.6 -725.0 902.8 729.4 737.6 748.1 683.9 52

 53 FA313140003 Life insurance reserves 0.9 0.2 -0.6 -0.0 1.4 0.0 1.1 -3.4 3.7 53

 54 FA143178005 Taxes payable 1.7 26.9 69.2 192.4 -184.2 30.3 -28.6 -97.9 -45.7 54

 55 FA143192305 Foreign direct investment: intercompany debt -5.5 -42.3 -60.8 -32.1 -16.7 -59.5 -14.5 -41.3 90.0 55

 56 FA383190005 Miscellaneous liabilities 1818.6 1018.3 507.3 889.5 1719.3 957.2 445.9 -31.4 368.5 56

 57 FA143181105 Net equity issues -230.0 15.6 -262.3 58.8 211.5 54.5 149.0 -174.5 -406.8 57

 58 FA103164103 Corporate equities -458.1 -168.9 -384.9 -57.9 41.9 -274.8 -115.7 -526.5 -908.8 58

 59 FA112090205 Equity in noncoporate business 12.7 3.2 -1.1 -13.3 14.5 12.7 -44.3 13.5 14.6 59

 60 FA143192105 Foreign direct investment: equity 215.4 181.4 123.8 130.0 155.2 316.5 309.0 338.5 487.4 60

 61 FA387005005 Discrepancy -1115.9 131.2 -1321.9 914.7 -203.0 1134.7 1698.3 318.8 -338.2 61

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

16 Z.1, December 9, 2021

F.101 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA156010001 Personal income 18424.4 19627.6 18842.2 20348.7 19777.4 19542.0 21867.3 20669.9 20802.7 1

 2 FA156210005 - Personal current taxes 2205.1 2195.6 2241.6 2099.0 2181.8 2259.8 2412.1 2532.5 2619.2 2

 3 FA156012005 = Disposable personal income 16219.3 17432.0 16600.6 18249.6 17595.7 17282.2 19455.3 18137.4 18183.5 3

 4 FA156900005 - Personal outlays 14981.5 14544.5 14989.2 13477.7 14774.3 14936.8 15475.6 16165.0 16444.4 4

 5 FA156007015 = Personal saving, NIPA (2) 1237.8 2887.5 1611.4 4772.0 2821.3 2345.5 3979.7 1972.4 1739.1 5

 6 FA313154015 + Government insurance and pension reserves (3) -2.2 -4.0 -4.2 -5.0 -3.6 -3.2 -1.9 -5.7 -0.1 6

 7 FA156600075 - Contr. for govt. soc. insur., U.S.-affiliated areas 5.2 5.1 5.2 4.9 5.0 5.2 5.3 5.4 5.6 7

 8 FA155111005 + Net investment in consumer durables 258.9 304.0 198.9 175.9 440.5 400.6 610.0 698.3 523.5 8

 9 FA156300005 + Consumption of fixed capital 1754.8 1839.5 1806.3 1819.4 1836.3 1895.9 1892.0 1953.8 2063.6 9

 10 FA155440005 - Net capital transfers paid (4) 15.4 2.5 16.2 -40.6 16.9 17.5 -181.0 19.5 -29.7 10

 11 FA156000105 = Gross saving less net capital transfers paid 3228.6 5019.4 3591.0 6798.0 5072.5 4616.1 6655.4 4593.8 4350.1 11

 12 FA155090005 Gross investment 3875.6 5075.9 4831.3 7752.6 3289.0 4430.6 5449.8 4326.5 3943.4 12

 13 FA155050005 Capital expenditures 2286.4 2453.7 2311.5 2199.0 2611.7 2692.7 2921.0 3037.5 2965.4 13

 14 FA155111003 Consumer durable goods 1413.4 1512.5 1389.4 1373.8 1640.5 1646.0 1831.9 1957.6 1867.6 14

 15 FA155012005 Residential 673.4 738.5 719.0 652.8 752.9 829.3 867.3 856.6 871.6 15

 16 FA165013005 Nonprofit nonresidential 213.7 217.1 217.2 186.6 232.7 232.0 236.6 238.3 241.5 16

 17 FA155420003 Nonproduced nonfinancial assets -14.0 -14.4 -14.1 -14.3 -14.4 -14.7 -14.8 -15.0 -15.3 17

 18 FA155000005 Net lending (+) or net borrowing (-) 1589.2 2622.2 2519.8 5553.6 677.3 1737.9 2528.7 1289.1 978.0 18

 19 FA154090005 Net acquisition of financial assets 2110.4 3243.9 3111.5 5540.5 1583.0 2740.6 3670.6 2614.0 2052.3 19

 20 FA153091003 Foreign deposits -1.0 7.8 37.4 -25.8 15.8 3.7 5.5 -2.3 -4.6 20

 21 FA153020005 Checkable deposits and currency -45.8 1710.5 287.1 1473.9 927.5 4153.4 1434.9 1911.0 458.9 21

 22 FA153030005 Time and savings deposits 536.6 471.6 1022.1 2528.0 290.4 -1954.0 1840.1 -344.8 308.8 22

 23 FA153034005 Money market fund shares 411.8 337.4 916.5 1096.5 -219.1 -444.5 883.7 210.6 -148.7 23

 24 FA154022005 Debt securities 271.9 -448.6 268.1 -832.8 -1297.6 68.1 -2049.3 -952.4 285.1 24

 25 FA153061105 Treasury securities 174.1 -117.9 -494.3 -205.7 -127.2 355.8 -639.7 -811.8 82.8 25

 26 FA153061705 Agency- and GSE-backed securities 123.7 -328.5 89.0 -1052.3 -178.5 -172.2 -474.3 207.4 -264.5 26

 27 FA153062005 Municipal securities -65.9 -32.8 -4.9 -40.3 -3.0 -82.9 -107.3 -84.4 -116.4 27

 28 FA153063005 Corporate and foreign bonds 40.0 30.6 678.3 465.6 -988.9 -32.6 -827.9 -263.6 583.2 28

 29 FA154023005 Loans 32.6 116.4 628.5 -107.5 -149.6 94.3 44.2 57.8 194.9 29

 30 FA153069005 Other loans and advances (5) 39.1 118.0 631.1 -103.6 -148.6 93.3 49.2 65.2 201.8 30

 31 FA153065005 Mortgages -2.5 1.5 1.9 0.1 2.4 1.6 -3.9 -6.4 -5.9 31

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

 33 FA153064105 Corporate equities (6) 62.0 434.9 276.5 615.0 974.6 -126.5 742.2 949.2 53.0 33

 34 FA153064205 Mutual fund shares 320.9 -59.4 -1036.8 229.1 309.9 260.1 595.1 389.3 258.3 34

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

 36 FA153040005 Life insurance reserves 16.7 94.2 197.2 10.5 78.2 90.7 -81.3 27.6 53.0 36

 37 FA153050005 Pension entitlements (7) 437.5 480.2 472.7 444.1 471.9 532.1 210.0 278.1 436.3 37

 38 FA152090205 Equity in noncorporate business 17.9 10.1 4.2 1.3 9.0 25.7 -30.5 30.2 21.2 38

 39 FA153090005 Miscellaneous assets 41.8 81.3 30.5 100.4 164.4 29.8 69.0 52.7 129.1 39

 40 FA154190005 Net increase in liabilities 521.2 621.7 591.7 -13.1 905.7 1002.7 1141.9 1324.9 1074.3 40

 41 FA163162003 Debt securities (municipal securities) -3.3 -10.3 -11.7 -9.0 -5.4 -15.0 2.8 -1.0 -4.5 41

 42 FA154123005 Loans 516.1 625.2 586.5 -7.1 906.0 1015.3 1123.8 1322.4 1072.0 42

 43 FA153165105 One-to-four-family residential mortgages (8) 293.1 446.8 368.5 317.5 587.8 513.2 613.8 890.3 881.9 43

 44 FA153166000 Consumer credit 185.2 -12.0 26.4 -234.7 74.5 86.0 151.8 337.0 227.4 44

 45 FA153168005 Depository institution loans n.e.c. (9) 11.1 20.4 135.0 -32.6 -44.7 23.8 -1.6 5.5 53.4 45

 46 FA153169005 Other loans and advances 23.9 168.5 55.1 -58.7 287.0 390.8 358.6 88.5 -91.9 46

 47 FA163165505 Commercial mortgages 2.9 1.4 1.4 1.4 1.4 1.4 1.1 1.1 1.1 47

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

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

 50 FA157005005 Discrepancy -647.0 -56.5 -1240.3 -954.7 1783.5 185.5 1205.6 267.2 406.7 50

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

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

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

(4) Table F.5, line 66.

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

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

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

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

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

Z.1, December 9, 2021 17

F.102 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA146110005 Income before taxes 2970.4 3033.5 2818.8 2537.2 3409.5 3368.4 3596.8 4037.7 4056.1 1

 2 FA146000105 Gross saving less net capital transfers paid 2493.6 2513.2 2384.7 2219.6 2769.8 2678.9 2814.8 3011.7 3198.0 2

 3 FA145090005 Gross investment 2972.3 2382.4 3124.9 1390.5 3431.8 1582.4 2181.9 2801.9 3962.8 3

 4 FA145050005 Capital expenditures 2620.6 2384.6 2502.8 2060.3 2428.8 2546.4 2519.7 2493.4 2667.6 4

 5 FA145019005 Fixed investment 2547.1 2444.4 2525.6 2353.0 2406.9 2491.9 2598.6 2670.5 2717.9 5

 6 FA145012005 Residential 133.4 156.4 147.9 145.7 161.5 170.5 196.3 202.5 204.9 6

 7 FA145013005 Nonresidential 2413.7 2287.9 2377.8 2207.3 2245.4 2321.3 2402.3 2468.1 2513.0 7

 8 FA145020005 Change in inventories 73.6 -59.6 -20.6 -289.9 15.0 57.3 -94.2 -174.3 -65.3 8

 9 FA105420005 Nonproduced nonfinancial assets -0.1 -0.2 -2.2 -2.7 6.8 -2.7 15.4 -2.8 15.0 9

 10 FA145000005 Net lending (+) or net borrowing (-) 351.7 -2.2 622.1 -669.8 1003.1 -964.0 -337.9 308.4 1295.2 10

 11 FA144090005 Net acquisition of financial assets 2728.0 1973.5 3586.6 1492.6 2358.8 456.0 1682.0 1066.0 2464.7 11

 12 FA103091003 Foreign deposits 24.7 11.6 -78.6 136.0 57.1 -68.0 -3.2 139.9 -32.1 12

 13 FA143020005 Checkable deposits and currency 170.6 764.7 1409.8 1873.8 127.6 -352.5 306.8 -173.2 439.9 13

 14 FA143030005 Time and savings deposits 72.9 229.7 688.5 354.2 0.4 -124.1 97.3 85.6 287.1 14

 15 FA143034005 Money market fund shares 98.0 128.6 1512.9 -161.3 -751.9 -85.2 -141.9 -51.6 113.7 15

 16 FA102051003 Security repurchase agreements -1.2 26.4 56.0 20.0 -8.4 38.1 -50.9 38.7 -24.0 16

 17 FA144022005 Debt securities 70.3 55.8 169.5 98.5 -7.6 -37.3 -95.1 95.2 59.2 17

 18 FA103069100 Commercial paper 55.4 38.3 55.4 -32.0 68.0 61.9 -63.3 126.5 18.2 18

 19 FA143061105 Treasury securities 7.6 12.5 77.9 100.3 -56.3 -72.0 -20.9 -24.6 29.9 19

 20 FA103061703 Agency- and GSE-backed securities 2.4 4.4 35.2 29.3 -20.0 -26.9 -12.5 -6.8 9.9 20

 21 FA143062005 Municipal securities 4.8 0.5 0.9 0.8 0.7 -0.3 1.6 0.1 1.2 21

 22 FA144023005 Loans 4.3 6.6 0.7 1.7 -15.9 40.0 -1.7 -6.8 -16.3 22

 23 FA143065005 Mortgages 4.9 6.6 8.8 10.6 5.0 1.9 8.6 3.2 7.7 23

 24 FA143066005 Consumer credit -0.7 0.0 -8.1 -9.0 -21.0 38.1 -10.2 -10.0 -24.0 24

 25 FA103064103 Corporate equities 10.2 -127.0 -102.6 -123.0 -133.5 -149.1 -127.0 -127.0 -127.0 25

 26 FA103064203 Mutual fund shares 5.3 10.6 10.6 10.6 10.6 10.6 10.6 10.6 10.6 26

 27 FA143070005 Trade receivables 588.2 81.8 -321.9 -899.6 900.7 648.0 678.0 756.7 731.5 27

 28 FA103092005 U.S. direct investment abroad 20.0 226.5 -58.3 503.3 164.8 296.0 251.8 421.7 266.5 28

 29 FA143090005 Miscellaneous assets 1664.6 558.2 299.8 -321.5 2014.8 239.6 757.3 -123.8 755.4 29

 30 FA144194005 Net increase in liabilities and equity 2376.3 1975.7 2964.5 2162.4 1355.8 1420.0 2019.9 757.5 1169.5 30

 31 FA144190005 Net increase in liabilities 2606.2 1960.1 3226.8 2103.6 1144.2 1365.6 1870.9 932.0 1576.3 31

 32 FA104122005 Debt securities 270.3 617.2 724.3 1474.7 186.7 83.0 210.9 202.9 368.9 32

 33 FA103169100 Commercial paper -1.9 -62.3 -21.4 -271.3 -70.6 114.0 -223.5 113.2 40.8 33

 34 FA103162000 Municipal securities 15.2 4.0 14.6 -2.2 15.4 -11.9 6.5 15.3 20.1 34

 35 FA103163003 Corporate bonds 257.0 675.5 731.1 1748.1 241.9 -19.0 427.9 74.4 307.9 35

 36 FA144123005 Loans 483.4 831.7 2354.2 1130.9 -154.8 -3.6 549.9 110.7 326.0 36

 37 FA143168005 Depository institution loans n.e.c. 47.0 250.9 1703.5 542.2 -729.3 -512.8 31.0 -512.4 -374.7 37

 38 FA143169005 Other loans and advances 136.6 284.1 336.0 317.5 301.8 181.2 234.2 283.5 314.8 38

 39 FA143165005 Mortgages 299.8 296.7 314.7 271.2 272.7 328.1 284.7 339.7 385.9 39

 40 FA143170005 Trade payables 273.0 108.8 -202.0 -738.4 765.0 610.7 640.6 620.1 553.4 40

 41 FA143178005 Taxes payable 1.7 26.9 69.2 192.4 -184.2 30.3 -28.6 -97.9 -45.7 41

 42 FA143192305 Foreign direct investment: intercompany debt -5.5 -42.3 -60.8 -32.1 -16.7 -59.5 -14.5 -41.3 90.0 42

 43 FA143190005 Miscellaneous liabilities 1583.4 417.7 342.0 76.2 548.2 704.6 512.5 137.6 283.6 43

 44 FA143181105 Net equity issues -230.0 15.6 -262.3 58.8 211.5 54.5 149.0 -174.5 -406.8 44

 45 FA103164103 Corporate equities -458.1 -168.9 -384.9 -57.9 41.9 -274.8 -115.7 -526.5 -908.8 45

 46 FA112090205 Equity in noncoporate business 12.7 3.2 -1.1 -13.3 14.5 12.7 -44.3 13.5 14.6 46

 47 FA143192105 Foreign direct investment: equity 215.4 181.4 123.8 130.0 155.2 316.5 309.0 338.5 487.4 47

 48 FA107005005 Discrepancy -478.7 130.8 -740.2 829.1 -662.0 1096.5 632.9 209.9 -764.8 48

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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18 Z.1, December 9, 2021

F.103 Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA106060005 Profits before tax 1208.0 1226.8 1023.7 910.0 1491.5 1482.1 1725.1 2031.9 2041.7 1

 2 FA106231005 - Taxes on corporate income 203.6 189.6 162.8 158.7 214.1 222.7 244.8 276.1 287.2 2

 3 FA106121075 - Net dividends 695.7 796.2 756.5 789.5 766.3 872.5 759.1 874.8 822.2 3

 4 FA105020601 + Inventory valuation adjustment (IVA) -0.0 -18.2 93.0 45.1 -88.0 -122.9 -249.5 -321.2 -240.8 4

 5 FA106300015 + Capital consumption allowance (1) 1781.2 1817.7 1806.7 1811.3 1818.6 1834.2 1869.7 1891.2 1913.5 5

 6 FA106006065 + Foreign earnings retained abroad 39.6 122.2 20.4 97.1 161.7 209.4 95.3 172.4 134.7 6

 7 FA105440005 - Net capital transfers paid (2) -12.4 13.6 -0.9 57.0 -0.8 -0.7 -0.6 -0.5 -37.8 7

 8 FA106000105 = Gross savings less net capital transfers paid 2141.9 2149.1 2025.6 1858.2 2404.3 2308.3 2437.3 2624.0 2777.5 8

 9 FA105090005 Gross investment 2620.6 2018.3 2765.8 1029.1 3066.3 1211.8 1804.4 2414.1 3542.4 9

 10 FA105050005 Capital expenditures 2184.6 1960.9 2064.9 1667.0 2015.6 2096.0 2064.5 2035.5 2181.4 10

 11 FA105019005 Fixed investment (3) 2111.4 2009.4 2078.5 1918.3 1993.5 2047.5 2129.3 2187.5 2218.7 11

 12 FA105020005 Inventory change + IVA 73.3 -48.3 -11.3 -248.6 15.3 51.3 -80.2 -149.3 -52.3 12

 13 FA105420005 Nonproduced nonfinancial assets -0.1 -0.2 -2.2 -2.7 6.8 -2.7 15.4 -2.8 15.0 13

 14 FA105000005 Net lending (+) or net borrowing (-) 436.0 57.4 700.9 -637.8 1050.7 -884.2 -260.0 378.6 1361.0 14

 15 FA104090005 Net acquisition of financial assets 2396.4 1429.6 2889.9 613.1 1883.1 332.3 1358.8 845.1 2354.1 15

 16 FA103091003 Foreign deposits 24.7 11.6 -78.6 136.0 57.1 -68.0 -3.2 139.9 -32.1 16

 17 FA103020000 Checkable deposits and currency 150.2 665.3 1182.7 1684.7 140.1 -346.2 214.8 -229.7 353.7 17

 18 FA103030003 Time and savings deposits 14.3 107.3 389.7 123.5 14.9 -99.0 -38.0 26.1 153.8 18

 19 FA103034000 Money market fund shares 92.2 119.6 1499.0 -179.0 -757.7 -84.2 -144.9 -53.2 111.5 19

 20 FA102051003 Security repurchase agreements -1.2 26.4 56.0 20.0 -8.4 38.1 -50.9 38.7 -24.0 20

 21 FA104022005 Debt securities 69.3 52.7 183.6 83.6 -14.2 -42.1 -102.7 98.6 59.8 21

 22 FA103069100 Commercial paper 55.4 38.3 55.4 -32.0 68.0 61.9 -63.3 126.5 18.2 22

 23 FA103061103 Treasury securities 6.7 9.8 93.1 85.9 -62.8 -77.2 -27.5 -21.5 31.2 23

 24 FA103061703 Agency- and GSE-backed securities 2.4 4.4 35.2 29.3 -20.0 -26.9 -12.5 -6.8 9.9 24

 25 FA103062003 Municipal securities 4.8 0.2 -0.2 0.4 0.6 0.1 0.6 0.3 0.4 25

 26 FA104023005 Loans 1.5 2.4 -5.8 -6.6 -18.6 40.5 -7.8 -7.5 -21.4 26

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

 28 FA103066005 Consumer credit -0.7 0.0 -8.1 -9.0 -21.0 38.1 -10.2 -10.0 -24.0 28

 29 FA103064103 Corporate equities 10.2 -127.0 -102.6 -123.0 -133.5 -149.1 -127.0 -127.0 -127.0 29

 30 FA103064203 Mutual fund shares 5.3 10.6 10.6 10.6 10.6 10.6 10.6 10.6 10.6 30

 31 FA103070005 Trade receivables 540.5 34.7 -367.6 -954.2 855.8 604.9 622.7 716.1 691.0 31

 32 FA103092005 U.S. direct investment abroad (4) 20.0 226.5 -58.3 503.3 164.8 296.0 251.8 421.7 266.5 32

 33 FA103090005 Miscellaneous assets 1469.3 299.5 181.0 -685.8 1572.1 130.8 733.3 -189.1 911.6 33

 34 FA103072005 Of which: PPP subsidies receivable 0.0 210.0 0.0 369.9 525.5 -55.3 -174.4 -193.2 -67.7 34

 35 FA104194005 Net increase in liabilities and equity 1960.5 1372.2 2189.0 1251.0 832.4 1216.6 1618.8 466.5 993.1 35

 36 FA104190005 Net increase in liabilities 2202.5 1361.2 2450.2 1181.5 635.8 1177.3 1425.1 661.7 1419.6 36

 37 FA104122005 Debt securities 270.3 617.2 724.3 1474.7 186.7 83.0 210.9 202.9 368.9 37

 38 FA103169100 Commercial paper -1.9 -62.3 -21.4 -271.3 -70.6 114.0 -223.5 113.2 40.8 38

 39 FA103162000 Municipal securities (5) 15.2 4.0 14.6 -2.2 15.4 -11.9 6.5 15.3 20.1 39

 40 FA103163003 Corporate bonds (4) 257.0 675.5 731.1 1748.1 241.9 -19.0 427.9 74.4 307.9 40

 41 FA104123005 Loans 209.5 312.0 1713.8 183.5 -534.8 -114.4 304.1 -29.2 307.7 41

 42 FA103168005 Depository institution loans n.e.c. 30.9 77.6 1334.6 -2.8 -755.6 -265.9 30.7 -324.3 -137.9 42

 43 FA103169005 Other loans and advances (6) 128.0 188.0 321.0 144.5 177.5 109.2 193.4 182.1 316.0 43

 44 FA103165005 Mortgages 50.6 46.4 58.2 41.9 43.3 42.2 79.9 113.0 129.6 44

 45 FA103170005 Trade payables 230.1 134.8 -207.3 -589.1 718.4 617.1 549.3 577.4 506.8 45

 46 FA103178005 Taxes payable -6.8 13.8 49.1 166.8 -192.5 31.9 -47.4 -90.1 -41.6 46

 47 FA103192305 Foreign direct investment: intercompany debt -5.3 -41.7 -59.8 -31.8 -16.1 -59.3 -14.4 -41.1 90.4 47

 48 FA103190005 Miscellaneous liabilities 1504.6 325.2 230.2 -22.5 474.1 619.1 422.6 41.8 187.5 48

 49 FA573074005 Pension fund contributions payable -4.6 -10.0 -2.7 -11.3 -11.6 -14.2 -9.0 -14.6 -12.9 49

 50 FA573073005 Claims of pension fund on sponsor 74.4 46.1 22.9 50.6 50.0 60.8 13.7 44.8 35.5 50

 51 FA103193005 Other 1434.8 289.1 210.0 -61.8 435.6 572.4 418.0 11.5 164.9 51

 52 FA103181105 Net equity issues -242.0 11.0 -261.2 69.4 196.6 39.2 193.7 -195.2 -426.6 52

 53 FA103164103 Corporate equities -458.1 -168.9 -384.9 -57.9 41.9 -274.8 -115.7 -526.5 -908.8 53

 54 FA103192105 Foreign direct investment: equity 216.1 179.9 123.7 127.3 154.7 314.0 309.3 331.4 482.2 54

 55 FA107005005 Discrepancy -478.7 130.8 -740.2 829.1 -662.0 1096.5 632.9 209.9 -764.8 55

 Memo:

 56 FA105005305 Financing gap (7) 82.3 -66.1 59.7 -94.2 -227.0 -2.8 -277.6 -416.1 -461.5 56

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

(2) Table F.5, line 61.

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

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

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

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

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

Z.1, December 9, 2021 19

F.104 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA116300005 Gross saving = consumption of fixed capital 351.7 364.1 359.0 361.4 365.5 370.6 377.4 387.8 399.8 1

 2 FA116000105 Gross saving less net capital transfers paid (1) 351.7 364.1 359.0 361.4 365.5 370.6 377.4 387.8 420.5 2

 3 FA116000105 Gross investment 351.7 364.1 359.0 361.4 365.5 370.6 377.4 387.8 420.5 3

 4 FA115050005 Capital expenditures 436.0 423.7 437.9 393.3 413.1 450.4 455.3 457.9 486.3 4

 5 FA115019005 Fixed investment (2) 435.7 434.9 447.1 434.7 413.4 444.4 469.3 483.0 499.2 5

 6 FA115020005 Change in inventories 0.3 -11.2 -9.3 -41.4 -0.3 6.0 -14.1 -25.0 -12.9 6

 7 FA115000005 Net lending (+) or net borrowing (-) -84.3 -59.5 -78.8 -32.0 -47.6 -79.8 -77.8 -70.2 -65.8 7

 8 FA114090005 Net acquisition of financial assets 331.5 543.9 696.7 879.5 475.7 123.7 323.2 220.9 110.7 8

 9 FA113020005 Checkable deposits and currency 20.4 99.3 227.0 189.1 -12.4 -6.3 91.9 56.6 86.2 9

 10 FA113030003 Time and savings deposits 58.6 122.5 298.8 230.7 -14.5 -25.1 135.3 59.5 133.3 10

 11 FA113034003 Money market funds 5.8 9.1 13.9 17.7 5.7 -1.1 3.0 1.5 2.3 11

 12 FA114022005 Debt securities 1.0 3.0 -14.2 14.9 6.7 4.8 7.6 -3.3 -0.5 12

 13 FA113061003 Treasury securities 0.9 2.7 -15.3 14.4 6.5 5.2 6.6 -3.1 -1.3 13

 14 FA113062003 Municipal securities 0.1 0.3 1.1 0.5 0.1 -0.4 1.0 -0.2 0.8 14

 15 FA114023005 Loans 2.7 4.3 6.5 8.3 2.7 -0.5 6.1 0.7 5.2 15

 16 FA113065005 Mortgages 2.7 4.3 6.5 8.3 2.7 -0.5 6.1 0.7 5.2 16

 17 FA113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA113070003 Trade receivables 47.7 47.1 45.7 54.5 44.9 43.1 55.3 40.6 40.4 18

 19 FA113090005 Miscellaneous assets 195.2 258.7 118.8 364.3 442.7 108.8 24.0 65.3 -156.2 19

 20 FA113076005 Insurance receivables 10.0 7.0 4.0 10.0 13.0 0.8 11.6 11.7 20.8 20

 21 FA113092405 Equity investment in GSEs (3) 0.3 0.2 -0.5 0.7 0.7 -0.0 0.1 2.2 0.8 21

 22 FA113072003 PPP subsidies receivable 0.0 117.5 0.0 204.1 289.9 -23.8 -100.7 -68.6 -297.7 22

 23 FA113093005 Other 185.0 134.0 115.4 149.5 139.1 131.9 112.9 120.0 119.8 23

 24 FA114194005 Net increase in liabilities and equity 415.8 603.5 775.6 911.5 523.3 203.5 401.1 291.0 176.5 24

 25 FA114190005 Net increase in liabilities 403.8 598.8 776.6 922.1 508.4 188.2 445.7 270.4 156.7 25

 26 FA114123005 Loans 273.9 519.7 640.4 947.4 380.0 110.8 245.9 140.0 18.3 26

 27 FA113168005 Depository institution loans n.e.c. 16.0 173.3 368.9 545.1 26.3 -247.0 0.3 -188.1 -236.8 27

 28 FA113169005 Other loans and advances 8.6 96.1 15.0 173.0 124.3 71.9 40.7 101.4 -1.2 28

 29 FA113165005 Mortgages 249.2 250.3 256.4 229.4 229.4 285.9 204.8 226.7 256.4 29

 30 FA113170005 Trade payables 42.9 -25.9 5.3 -149.3 46.6 -6.4 91.3 42.6 46.6 30

 31 FA113178003 Taxes payable 8.4 13.1 20.1 25.6 8.2 -1.6 18.8 -7.8 -4.1 31

 32 FA115114305 Foreign direct investment: intercompany debt -0.2 -0.5 -1.1 -0.3 -0.6 -0.2 -0.1 -0.2 -0.3 32

 33 FA113193003 Miscellaneous liabilities 78.7 92.5 111.8 98.7 74.1 85.5 89.9 95.8 96.2 33

 34 FA113181115 Net equity issues 12.0 4.6 -1.1 -10.6 14.9 15.3 -44.7 20.6 19.8 34

 35 FA112090205 Proprietors’ net investment 12.7 3.2 -1.1 -13.3 14.5 12.7 -44.3 13.5 14.6 35

 36 FA115114103 Foreign direct investment: equity -0.7 1.4 0.1 2.7 0.5 2.5 -0.4 7.2 5.1 36

(1) Net capital transfers paid from table F.5, line 62.

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

(3) Equity in the Farm Credit System.
Transactions

20 Z.1, December 9, 2021

F.105 General Government (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA366010115 Current receipts, NIPA basis 6506.7 6781.1 6607.5 7031.8 6669.7 6815.3 7083.3 8209.2 7820.1 1

 2 FA366210005 Personal current taxes 2205.1 2195.6 2241.6 2099.0 2181.8 2259.8 2412.1 2532.5 2619.2 2

 3 FA366240005 Taxes on production and imports 1532.3 1534.7 1577.1 1460.5 1544.0 1557.0 1580.1 1636.3 1661.6 3

 4 FA366231005 Taxes on corporate income 289.9 263.8 233.3 229.3 288.5 304.0 331.9 366.9 384.5 4

 5 FA316231061 Taxes from the rest of the world 27.2 27.4 28.6 26.1 26.6 28.3 29.4 29.3 30.0 5

 6 FA366601005 Contributions for govt. social insurance 1426.6 1464.5 1477.2 1410.8 1463.7 1506.5 1539.2 1577.7 1613.5 6

 7 FA366150105 Income receipts on assets 206.7 216.2 212.5 210.4 228.5 213.5 207.3 237.0 248.4 7

 8 FA366403105 Current transfer receipts 832.1 1096.4 851.8 1615.2 954.3 964.3 1002.6 1844.8 1269.4 8

 9 FA366402105 Current surplus of government enterprises -13.3 -17.5 -14.6 -19.5 -17.7 -18.1 -19.3 -15.4 -6.6 9

 10 FA366900015 Current expenditures, NIPA basis 7703.2 9814.9 7900.0 12103.9 10252.3 9003.6 11184.0 10693.2 9877.1 10

 11 FA366901005 Consumption expenditures 2973.9 3078.0 3058.9 3084.9 3079.4 3088.7 3186.5 3223.4 3276.1 11

 12 FA366404005 Government social benefits 3107.1 4214.4 3198.9 5614.7 4345.5 3698.4 5957.4 4287.2 4109.2 12

 13 FA366403005 Other current transfer payments 659.5 931.9 694.8 1447.3 792.1 793.5 837.9 1679.9 1133.5 13

 14 FA366130005 Interest payments 889.7 829.2 866.5 832.7 814.2 803.6 795.9 797.1 803.3 14

 15 FA366402005 Subsidies 73.0 761.4 80.9 1124.3 1221.2 619.2 406.3 705.6 555.1 15

 16 FA366006005 Net saving, NIPA basis -1196.5 -3033.9 -1292.5 -5072.0 -3582.6 -2188.3 -4100.6 -2484.0 -2057.1 16

 17 FA366300005 + Consumption of fixed capital 586.9 606.4 597.8 601.9 609.6 616.1 624.7 637.8 651.3 17

 18 FA313154015 - Insurance and pension fund reserves (2) -2.2 -4.0 -4.2 -5.0 -3.6 -3.2 -1.9 -5.7 -0.1 18

 19 FA365440095 - Net capital transfers (3) 3.8 -10.0 -3.8 -12.3 -12.1 -12.0 196.0 -15.2 -14.1 19

 20 FA366000105 = Gross saving less net capital transfers -611.2 -2413.5 -686.7 -4452.8 -2957.3 -1557.0 -3670.0 -1825.3 -1391.6 20

 21 FA365090005 Gross investment -620.9 -2470.3 -1345.4 -5493.1 -1632.8 -1409.8 -3529.7 -1667.0 -1411.5 21

 22 FA365019005 Fixed investment 740.0 781.6 772.7 774.7 782.3 796.5 790.8 792.5 807.6 22

 23 FA365420005 Nonproduced nonfinancial assets 14.2 14.4 16.7 17.1 6.3 17.5 -0.4 17.9 0.3 23

 24 FA365000005 Net lending (+) or net borrowing (-) -1375.1 -3266.2 -2134.8 -6284.8 -2421.4 -2223.9 -4320.2 -2477.4 -2219.4 24

 25 FA364090005 Net acquisition of financial assets 117.2 2072.8 745.1 6969.2 434.0 142.9 -2070.4 -107.9 -1828.1 25

 26 FA313011005 U.S. official reserve assets 4.6 8.9 -1.0 19.8 7.2 9.8 -8.5 1.8 436.1 26

 27 FA363020005 Checkable deposits and currency 7.2 1417.1 658.2 4952.7 220.2 -162.5 -2196.5 -806.3 -2554.2 27

 28 FA363030005 Time and savings deposits 20.0 -10.9 53.0 18.9 10.6 -126.0 36.6 -73.4 -34.7 28

 29 FA213034003 Money market fund shares 6.8 7.9 23.3 11.9 -4.0 0.5 5.2 1.2 -3.0 29

 30 FA212051003 Security repurchase agreements -1.3 19.3 -8.7 51.5 18.5 15.9 25.0 25.5 23.3 30

 31 FA364022005 Debt securities 35.7 224.8 80.9 551.4 49.8 217.3 146.9 828.3 322.4 31

 32 FA213069103 Open market paper -0.6 1.7 -4.1 -5.6 8.8 7.5 15.7 23.8 28.4 32

 33 FA213061105 Treasury securities 51.4 291.3 41.7 728.8 138.7 256.1 227.3 830.6 320.7 33

 34 FA363061705 Agency- and GSE-backed securities 2.4 -71.4 12.3 -199.8 -48.7 -49.4 -64.6 -2.8 -44.7 34

 35 FA213062003 Municipal securities -0.9 1.5 0.1 3.9 1.4 0.5 4.1 2.1 4.8 35

 36 FA363063005 Corporate and foreign bonds -16.6 1.8 30.9 24.0 -50.3 2.5 -35.7 -25.4 13.2 36

 37 FA364023005 Loans 91.6 258.5 62.4 554.7 325.3 91.7 120.3 117.7 95.8 37

 38 FA363065005 Mortgages -1.3 8.7 -7.5 18.4 9.0 14.6 12.0 9.1 10.3 38

 39 FA313066220 Consumer credit 83.0 61.7 83.7 78.4 52.2 32.7 78.5 74.0 55.6 39

 40 FA313069005 Other loans and advances 9.9 188.1 -13.8 457.9 264.1 44.4 29.8 34.7 29.8 40

 41 FA363064105 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 41

 42 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 42

 43 FA363070005 Trade receivables 17.2 18.7 -26.3 -21.2 64.6 57.5 63.7 47.7 56.2 43

 44 FA363078005 Taxes receivable -10.7 -5.5 -50.1 323.2 -315.3 20.2 -39.2 -266.3 -159.2 44

 45 FA363090005 Miscellaneous assets -51.7 136.1 -44.4 508.7 59.3 20.8 -221.7 17.9 -8.5 45

 46 FA364190005 Net increase in liabilities 1492.3 5339.1 2880.0 13254.0 2855.4 2366.8 2249.8 2369.5 391.3 46

 47 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 451.2 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 -0.5 -0.0 0.0 0.0 -0.2 0.0 0.0 0.0 -0.5 49

 50 FA364122005 Debt securities 1172.6 4671.8 2712.3 12429.6 1548.7 1996.7 2232.8 2417.3 -994.0 50

 51 FA313161105 Treasury securities 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 -1048.1 51

 52 FA313161705 Budget agency securities -1.7 -1.0 -0.1 -0.7 -3.5 0.2 -1.5 -0.0 -1.3 52

 53 FA213162005 Municipal securities -2.3 90.6 29.7 110.1 174.0 48.8 110.5 102.4 55.4 53

 54 FA364123005 Loans 1.0 1.0 0.4 0.7 1.8 1.1 0.7 0.0 722.2 54

 55 FA313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

 56 FA363169005 Other loans and advances 1.0 1.0 0.4 0.7 1.8 1.1 0.7 0.0 722.2 56

 57 FA363170005 Trade payables 84.6 65.6 12.7 6.7 131.0 112.0 90.3 121.3 123.7 57

 58 FA313140003 Insurance reserves 0.9 0.2 -0.6 -0.0 1.4 0.0 1.1 -3.4 3.7 58

 59 FA363190005 Miscellaneous liabilities 233.7 600.5 155.1 817.2 1172.8 257.0 -75.1 -165.7 84.9 59

 60 FA367005005 Discrepancy 9.8 56.8 658.7 1040.3 -1324.5 -147.2 -140.3 -158.3 19.9 60

 Memo:

 61 FA374090005 Net acquisition of financial assets (consolidated) (4) 65.6 1779.0 702.9 6235.8 292.2 -114.8 -2302.6 -940.6 -2153.5 61

 62 FA374190005 Net increase in liabilities (consolidated) (4) 1440.7 5045.3 2837.7 12520.6 2713.6 2109.0 2017.6 1536.8 65.9 62

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

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

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

(3) Table F.5, line 63 less line 12.

(4) Excludes Treasury securities and municipal securities held by state and local governments (lines 33 and 35) and federal government loans to state and local governments (line 56).
Transactions

Z.1, December 9, 2021 21

F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA316010105 Current receipts, NIPA basis 3713.7 3684.5 3751.2 3481.1 3690.5 3815.1 3982.6 4177.8 4310.9 1

 2 FA316210001 Personal current taxes 1708.6 1679.6 1737.9 1581.5 1662.2 1736.9 1851.9 1946.1 2019.3 2

 3 FA316240001 Taxes on production and imports 174.7 158.0 185.8 138.3 151.3 156.6 166.2 177.8 173.0 3

 4 FA316231001 Taxes on corporate income 217.0 192.7 166.7 167.4 211.7 225.1 246.4 275.1 293.1 4

 5 FA316231061 Taxes from the rest of the world 27.2 27.4 28.6 26.1 26.6 28.3 29.4 29.3 30.0 5

 6 FA316601001 Contributions for govt. social insurance 1406.2 1444.6 1457.1 1391.6 1443.8 1486.0 1517.9 1555.7 1591.1 6

 7 FA316150105 Income receipts on assets 109.9 119.8 116.5 114.1 132.4 116.3 109.5 139.0 150.3 7

 8 FA316403105 Current transfer receipts 72.5 62.9 59.5 62.7 62.6 66.6 62.8 56.7 55.6 8

 9 FA316402101 Current surplus of government enterprises -2.6 -0.6 -0.9 -0.6 -0.2 -0.8 -1.6 -1.9 -1.5 9

 10 FA316900005 Current expenditures, NIPA basis 4761.1 6794.5 4909.2 9106.7 7206.8 5955.2 8071.4 7490.5 6560.8 10

 11 FA316901001 Consumption expenditures 1097.4 1161.4 1124.7 1187.6 1169.4 1164.1 1219.9 1208.1 1196.4 11

 12 FA316404001 Government social benefits 2348.4 3406.1 2443.0 4810.8 3503.3 2867.3 5107.4 3401.7 3164.9 12

 13 FA316403001 Other current transfer payments 659.5 931.9 694.8 1447.3 792.1 793.5 837.9 1679.9 1133.5 13

 14 FA316130001 Interest payments 583.5 534.2 566.4 537.3 521.5 511.7 502.5 503.8 511.6 14

 15 FA316402001 Subsidies 72.4 760.8 80.3 1123.6 1220.5 618.6 403.8 697.0 554.4 15

 16 FA316006005 Net saving, NIPA basis -1047.5 -3110.0 -1158.0 -5625.6 -3516.3 -2140.1 -4088.9 -3312.7 -2249.9 16

 17 FA316300001 + Consumption of fixed capital 293.3 303.5 298.2 301.6 305.1 309.2 312.7 317.1 322.5 17

 18 FA313154015 - Insurance and pension reserves (1) -2.2 -4.0 -4.2 -5.0 -3.6 -3.2 -1.9 -5.7 -0.1 18

 19 FA315440095 - Net capital transfers paid (2) 77.8 72.6 74.7 72.7 72.4 70.8 277.2 68.9 78.1 19

 20 FA316000105 = Gross saving less net capital transfers paid -829.7 -2875.1 -930.2 -5391.7 -3280.0 -1898.5 -4051.4 -3058.7 -2005.4 20

 21 FA315090005 Gross investment -797.4 -2908.7 -1607.4 -6319.0 -1871.9 -1836.5 -3857.1 -2849.6 -2021.3 21

 22 FA315019001 Fixed investment 317.5 340.3 330.0 337.4 345.7 348.2 348.7 355.1 365.6 22

 23 FA315420003 Nonproduced nonfinancial assets -2.6 -2.9 -0.3 -0.1 -11.1 -0.2 -18.3 -0.3 -18.2 23

 24 FA315000005 Net lending (+) or net borrowing (-) -1112.4 -3246.1 -1937.1 -6656.2 -2206.5 -2184.6 -4187.6 -3204.4 -2368.7 24

 25 FA314090005 Net acquisition of financial assets 84.2 1701.9 661.1 6188.0 166.1 -207.7 -2395.2 -1223.6 -2319.3 25

 26 FA313011005 U.S. official reserve assets 4.6 8.9 -1.0 19.8 7.2 9.8 -8.5 1.8 436.1 26

 27 FA313020005 Checkable deposits and currency 1.0 1326.3 642.6 4840.1 164.0 -341.5 -2274.6 -1011.5 -2654.8 27

 28 FA313030003 Time and savings deposits 0.3 -1.3 -1.6 0.6 -1.7 -2.7 35.5 -34.4 2.0 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 93.5 253.2 76.0 541.8 312.3 82.8 112.6 113.6 93.7 32

 33 FA313069005 Other loans and advances 9.9 188.1 -13.8 457.9 264.1 44.4 29.8 34.7 29.8 33

 34 FA313065005 Mortgages 0.6 3.3 6.1 5.6 -4.0 5.7 4.4 4.9 8.2 34

 35 FA313066220 Consumer credit (3) 83.0 61.7 83.7 78.4 52.2 32.7 78.5 74.0 55.6 35

 36 FA313064105 Corporate equities (4) 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 36

 37 FA313070000 Trade receivables -1.9 11.3 0.8 25.1 1.8 17.7 30.2 0.5 7.4 37

 38 FA313078000 Taxes receivable -20.3 -18.6 -67.5 300.2 -326.0 18.9 -54.7 -255.5 -158.0 38

 39 FA313090005 Miscellaneous assets 7.0 122.0 11.9 460.4 8.4 7.3 -235.7 -38.1 -45.6 39

 40 FA314190005 Net increase in liabilities 1196.6 4948.0 2598.2 12844.2 2372.6 1976.9 1792.3 1980.8 49.4 40

 41 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 451.2 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 -0.5 -0.0 0.0 0.0 -0.2 0.0 0.0 0.0 -0.5 43

 44 FA314122005 Debt securities 1174.9 4581.2 2682.6 12319.5 1374.7 1947.8 2122.3 2314.9 -1049.4 44

 45 FA313161105 Treasury securities (5) 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 -1048.1 45

 46 FA313161205 Marketable 1062.7 4317.3 2462.0 11726.3 1221.9 1858.8 2184.3 2103.5 -162.7 46

 47 FA313161305 Nonmarketable 113.9 264.9 220.6 593.9 156.3 88.8 -60.5 211.3 -885.4 47

 48 FA313161705 Budget agency securities -1.7 -1.0 -0.1 -0.7 -3.5 0.2 -1.5 -0.0 -1.3 48

 49 FA314123005 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 722.2 49

 50 FA313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 FA313169003 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 722.2 51

 52 FA313170005 Trade payables 36.0 17.2 -36.4 -40.2 82.8 62.4 39.4 69.4 70.6 52

 53 FA313140003 Insurance reserves 0.9 0.2 -0.6 -0.0 1.4 0.0 1.1 -3.4 3.7 53

 54 FA313190005 Miscellaneous liabilities -14.6 349.5 -47.4 564.9 913.8 -33.4 -370.5 -400.1 -148.5 54

 55 FA343073045 Claims of pension fund on sponsor -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 220.2 55

 56 FA313172003 PPP subsidies payable 0.0 364.7 0.0 634.1 900.7 -75.9 -295.7 -284.1 -393.0 56

 57 FA313190015 Other 18.3 4.4 -0.4 -2.3 5.3 15.1 -7.2 34.1 24.3 57

 58 FA317005005 Discrepancy -32.3 33.6 677.2 927.3 -1408.1 -61.9 -194.2 -209.1 16.0 58

 Memo:

 59 FA314000105 Change in cash balance (6) 1.8 1324.3 557.7 4939.0 66.0 -265.6 -2319.3 -940.2 -2772.8 59

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

(2) Table F.5, line 64 less line 12.

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

 the government purchased from depository institutions and finance companies.

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

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

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

22 Z.1, December 9, 2021

F.107 State and Local Governments

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA216010105 Current receipts, NIPA basis 2793.1 3096.6 2856.3 3550.7 2979.2 3000.2 3100.7 4031.4 3509.2 1

 2 FA216210001 Personal current taxes 496.5 515.9 503.8 517.5 519.6 522.8 560.2 586.4 599.9 2

 3 FA216240001 Taxes on production and imports 1357.6 1376.6 1391.3 1322.2 1392.7 1400.4 1413.9 1458.5 1488.6 3

 4 FA216231001 Taxes on corporate income 72.9 71.0 66.5 61.9 76.8 78.8 85.5 91.9 91.4 4

 5 FA216601001 Contributions for govt. social insurance 20.4 19.9 20.1 19.1 19.9 20.5 21.2 21.9 22.5 5

 6 FA216150105 Income receipts on assets 96.8 96.4 96.0 96.3 96.1 97.3 97.7 98.0 98.1 6

 7 FA216403105 Current transfer receipts 759.6 1033.5 792.3 1552.5 891.7 897.7 939.9 1788.1 1213.8 7

 8 FA216402101 Current surplus of government enterprises -10.7 -16.8 -13.7 -18.9 -17.5 -17.3 -17.6 -13.5 -5.1 8

 9 FA216900005 Current expenditures, NIPA basis 2942.1 3020.5 2990.8 2997.2 3045.5 3048.4 3112.5 3202.7 3316.4 9

 10 FA216901001 Consumption expenditures 1876.5 1916.5 1934.3 1897.3 1909.9 1924.7 1966.5 2015.3 2079.7 10

 11 FA216404001 Govt. social benefit payments to persons 758.7 808.3 755.9 803.8 842.2 831.1 850.0 885.5 944.3 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 306.2 295.0 300.0 295.4 292.8 291.9 293.4 293.3 291.8 13

 14 FA216402001 Subsidies 0.6 0.6 0.6 0.6 0.6 0.6 2.5 8.6 0.6 14

 15 FA216006005 Net saving, NIPA basis -149.0 76.1 -134.6 553.6 -66.3 -48.2 -11.8 828.7 192.8 15

 16 FA216300001 + Consumption of fixed capital 293.7 302.8 299.6 300.3 304.5 306.9 312.0 320.7 328.9 16

 17 FA215440005 - Net capital transfers paid (1) -73.9 -82.7 -78.4 -85.0 -84.5 -82.8 -81.2 -84.1 -92.1 17

 18 FA216000105 = Gross saving less net capital transfers paid 218.6 461.6 243.5 938.9 322.7 341.4 381.4 1233.5 613.8 18

 19 FA215090005 Gross investment 176.5 438.4 262.0 825.9 239.1 426.7 327.4 1182.6 609.9 19

 20 FA215019001 Fixed investment 422.5 441.2 442.7 437.3 436.6 448.3 442.2 437.3 442.0 20

 21 FA215420003 Nonproduced nonfinancial assets 16.8 17.3 17.0 17.2 17.4 17.7 17.9 18.2 18.6 21

 22 FA215000005 Net lending (+) or net borrowing (-) -262.7 -20.1 -197.7 371.4 -214.9 -39.3 -132.6 727.0 149.3 22

 23 FA214090005 Net acquisition of financial assets 33.0 371.0 84.1 781.2 267.9 350.6 324.8 1115.7 491.2 23

 24 FA213020005 Checkable deposits and currency 6.2 90.8 15.6 112.6 56.2 178.9 78.1 205.2 100.6 24

 25 FA213030000 Time and savings deposits 19.8 -9.6 54.6 18.2 12.3 -123.4 1.1 -39.0 -36.7 25

 26 FA213034003 Money market fund shares 6.8 7.9 23.3 11.9 -4.0 0.5 5.2 1.2 -3.0 26

 27 FA212051003 Security repurchase agreements -1.3 19.3 -8.7 51.5 18.5 15.9 25.0 25.5 23.3 27

 28 FA214022005 Debt securities 35.7 224.8 80.9 551.4 49.8 217.3 146.9 828.3 322.4 28

 29 FA213069103 Open market paper -0.6 1.7 -4.1 -5.6 8.8 7.5 15.7 23.8 28.4 29

 30 FA213061105 Treasury securities 51.4 291.3 41.7 728.8 138.7 256.1 227.3 830.6 320.7 30

 31 FA213061703 Agency- and GSE-backed securities 2.4 -71.4 12.3 -199.8 -48.7 -49.4 -64.6 -2.8 -44.7 31

 32 FA213062003 Municipal securities -0.9 1.5 0.1 3.9 1.4 0.5 4.1 2.1 4.8 32

 33 FA213063003 Corporate and foreign bonds -16.6 1.8 30.9 24.0 -50.3 2.5 -35.7 -25.4 13.2 33

 34 FA213065005 Loans (mortgages) -1.9 5.3 -13.6 12.9 13.0 8.9 7.6 4.1 2.1 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 19.1 7.3 -27.1 -46.3 62.8 39.9 33.5 47.3 48.7 37

 38 FA213078005 Taxes receivable 9.6 13.1 17.5 23.0 10.7 1.2 15.5 -10.8 -1.2 38

 39 FA213093003 Miscellaneous assets -58.7 14.1 -56.2 48.3 50.9 13.5 14.1 56.0 37.2 39

 40 FA214190005 Net increase in liabilities 295.7 391.1 281.7 409.8 482.8 389.9 457.5 388.7 341.9 40

 41 FA213162005 Debt securities (municipal securities) -2.3 90.6 29.7 110.1 174.0 48.8 110.5 102.4 55.4 41

 42 FA213162400 Short-term (2) 6.8 1.7 -6.0 8.8 4.7 -0.8 -12.1 -10.7 -30.6 42

 43 FA213162200 Long-term -9.1 89.0 35.7 101.3 169.3 49.6 122.6 113.1 86.0 43

 44 FA213169203 Loans (U.S. government loans) 1.0 1.0 0.4 0.7 1.8 1.1 0.7 0.0 0.0 44

 45 FA213170003 Trade payables 48.6 48.4 49.1 46.8 48.2 49.5 50.9 51.9 53.1 45

 46 FA223073045 Claims of pension fund on sponsor (3) 248.4 251.0 202.5 252.3 258.9 290.4 295.4 234.4 233.4 46

 47 FA217005005 Discrepancy 42.0 23.2 -18.5 113.0 83.6 -85.3 54.0 50.9 3.9 47

(1) Table F.5, line 65.

(2) Debt with original maturity of 13 months or less.

(3) Included in miscellaneous liabilities.
Transactions

Z.1, December 9, 2021 23

F.108 Domestic Financial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA796000105 Gross saving less net capital transfers paid 446.3 385.0 431.3 356.7 342.8 409.1 435.0 474.0 398.5 1

 2 FA795090005 Gross investment 408.4 381.8 247.4 363.2 651.2 265.4 1314.6 492.6 898.5 2

 3 FA795019005 Capital expenditures 318.5 297.4 311.1 264.5 301.3 312.8 319.7 333.9 324.9 3

 4 FA125012063 Fixed residential investment 7.1 2.8 5.9 -0.7 2.8 3.3 1.9 11.2 6.6 4

 5 FA795013005 Fixed nonresidential investment 311.4 294.6 305.1 265.2 298.5 309.4 317.8 322.8 318.4 5

 6 FA795000005 Net lending (+) or net borrowing (-) 89.9 84.4 -63.7 98.7 349.9 -47.3 994.9 158.6 573.6 6

 7 FA794090005 Net acqisition of financial assets 3395.6 9649.8 20970.5 10151.2 1651.7 5825.9 10145.5 5817.3 7320.5 7

 8 FA713011005 U.S. official reserve assets 0.1 0.0 0.1 0.1 0.1 -0.0 0.1 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 0.3 0.4 0.4 0.3 0.5 0.3 0.3 0.2 0.8 10

 11 FA633091003 Foreign deposits 5.8 -6.7 -14.5 -6.6 -4.9 -0.7 5.8 -7.6 2.4 11

 12 FA794010005 Net interbank assets -5.6 1506.5 4102.3 1246.5 -243.2 920.3 2720.9 -666.9 1288.7 12

 13 FA793020005 Checkable deposits and currency 81.2 224.8 1234.9 -562.7 -345.0 572.0 157.6 -349.8 512.3 13

 14 FA793030005 Time and savings deposits 56.6 6.3 108.8 305.3 -240.8 -148.4 -177.0 -166.2 -65.5 14

 15 FA793034005 Money market fund shares 65.0 225.3 619.3 332.1 -52.8 2.8 161.3 89.3 -75.0 15

 16 FA792050005 Federal funds and security repos 600.1 -307.7 1450.3 -3013.1 -27.8 359.9 -1064.1 1715.3 2174.0 16

 17 FA794022005 Debt securities 1131.8 6312.7 5841.7 13200.1 3363.7 2845.3 5296.1 2796.2 79.8 17

 18 FA793069175 Open market paper -10.9 -53.0 -59.5 -350.5 -12.3 210.3 83.8 -170.0 125.3 18

 19 FA793061105 Treasury securities 719.9 4473.9 4319.5 11216.7 1252.3 1107.1 2040.4 1828.5 -1775.2 19

 20 FA793061705 Agency- and GSE-backed securities 133.4 1099.7 1161.0 1217.7 998.7 1021.3 1360.9 463.3 906.8 20

 21 FA793062005 Municipal securities 67.6 110.3 39.7 118.0 182.9 100.7 214.6 186.9 182.5 21

 22 FA793063005 Corporate and foreign bonds 221.9 681.8 380.9 998.2 942.0 405.9 1596.5 487.6 640.5 22

 23 FA794023005 Loans 799.7 1036.5 4234.5 -1007.5 87.6 831.5 1614.7 1299.7 1949.7 23

 24 FA793068005 Depository institution loans n.e.c. 139.3 412.9 2606.2 122.1 -798.1 -278.6 112.8 -180.3 -180.1 24

 25 FA793069005 Other loans and advances -43.0 -36.2 988.4 -1385.3 -14.4 266.5 557.1 -12.6 669.3 25

 26 FA793065005 Mortgages 596.6 730.4 684.4 555.9 853.6 827.7 860.1 1218.6 1263.7 26

 27 FA793066005 Consumer credit 106.8 -70.6 -44.6 -300.2 46.6 15.9 84.7 273.9 196.8 27

 28 FA793064105 Corporate equities -275.1 -370.3 -99.6 -416.9 -469.3 -495.5 311.3 159.1 150.1 28

 29 FA793064205 Mutual fund shares -66.4 -187.6 -366.2 -124.7 -206.4 -53.2 -296.9 -277.5 -162.9 29

 30 FA793070005 Trade receivables 13.8 41.1 62.7 70.1 55.8 -24.1 27.6 47.3 30.8 30

 31 FA793040005 Life insurance reserves 17.4 15.7 12.5 16.4 15.8 17.8 3.9 36.4 23.5 31

 32 FA543050005 Pension entitlements 7.7 91.4 82.3 116.0 76.6 90.8 4.1 18.9 14.6 32

 33 FA793092005 U.S. direct investment abroad 38.0 38.3 95.4 29.7 31.4 -3.1 69.7 52.2 96.1 33

 34 FA793090005 Miscellaneous assets 925.0 1023.1 3605.5 -33.9 -389.3 910.2 1310.0 1070.7 1301.0 34

 35 FA794194005 Net increase in liabilities and equity 3305.7 9565.4 21034.2 10052.4 1301.8 5873.2 9150.7 5658.6 6746.9 35

 36 FA794190005 Net increase in liabilities 3043.7 9042.5 20698.4 9423.5 825.7 5222.2 8106.9 4628.9 6170.8 36

 37 FA794110005 Net interbank liabilities -99.0 1546.3 5773.1 196.0 -424.8 640.7 2623.8 -1065.6 1951.6 37

 38 FA793120005 Checkable deposits and currency 272.2 4272.6 3798.2 7891.1 965.7 4435.6 -276.1 746.0 -1258.2 38

 39 FA703130005 Time and savings deposits 684.1 795.2 2325.2 3098.4 59.0 -2302.1 1951.8 -424.0 488.0 39

 40 FA634090005 Money market fund shares 596.0 701.3 3093.7 1300.9 -1054.3 -535.2 927.6 254.2 -124.1 40

 41 FA792150005 Federal funds and security repos 219.8 -254.1 1094.3 -2428.1 124.3 193.1 -96.9 3263.1 2712.5 41

 42 FA794122005 Debt securities 399.0 903.8 2583.1 -234.1 236.1 1030.1 821.0 1069.1 688.5 42

 43 FA793169175 Open market paper -33.2 -7.0 31.4 -96.7 -29.9 67.0 194.2 -129.4 94.2 43

 44 FA423161705 Agency- and GSE-backed securities 318.6 658.2 1505.6 -221.8 536.3 812.7 699.6 600.9 566.3 44

 45 FA793163005 Corporate and foreign bonds 113.6 252.6 1046.0 84.4 -270.2 150.4 -72.8 597.6 28.0 45

 46 FA794123005 Loans -69.1 -29.9 1799.0 -1506.4 -425.2 13.0 131.8 10.0 105.3 46

 47 FA793168005 Depository institution loans n.e.c. -5.9 75.6 434.7 -266.8 -21.3 155.9 13.1 216.5 -48.1 47

 48 FA793169005 Other loans and advances -65.0 -107.8 1361.3 -1234.4 -412.0 -146.0 141.7 -199.8 146.6 48

 49 FA123165005 Mortgages 1.9 2.3 3.1 -5.2 8.1 3.2 -23.0 -6.7 6.8 49

 50 FA653164205 Mutual fund shares 208.0 -226.8 -1223.7 61.4 106.2 149.0 364.0 169.4 294.7 50

 51 FA793170005 Trade payables 15.0 101.9 101.2 128.0 110.9 67.7 21.6 20.5 29.7 51

 52 FA543140005 Life insurance reserves 31.7 85.0 188.6 -4.5 72.0 83.9 -75.9 63.2 69.5 52

 53 FA583150005 Pension entitlements 442.7 511.1 501.1 483.0 497.8 562.7 212.3 288.8 444.7 53

 54 FA793178005 Taxes payable 12.9 -8.2 -40.3 24.5 -26.7 9.8 -50.8 -34.4 31.9 54

 55 FA793192305 Foreign direct investment: intercompany debt -19.0 8.4 -11.7 5.5 -1.3 41.1 21.7 -3.1 -21.0 55

 56 FA793190005 Miscellaneous liabilities 349.3 635.7 716.6 407.6 586.1 832.6 1531.0 271.9 757.7 56

 57 FA793181125 Net equity issues 262.0 522.9 335.8 628.9 476.1 651.0 1043.7 1029.7 576.2 57

 58 FA793164105 Corporate equities 209.7 499.2 280.8 627.5 465.5 622.8 1050.2 1011.8 575.6 58

 59 FA662090003 Equity in noncorporate business 5.2 6.9 5.3 14.6 -5.5 13.0 13.8 16.8 6.6 59

 60 FA793192105 Foreign direct investment: equity 47.1 16.9 49.6 -13.1 16.1 15.2 -20.2 1.2 -6.1 60

 61 FA797005005 Discrepancy 37.9 3.2 183.9 -6.5 -308.4 143.7 -879.6 -18.6 -500.0 61

(1) Sum of financial sectors shown on tables F.109 through F.132.
Transactions

24 Z.1, December 9, 2021

F.109 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA716000105 Gross saving 9.3 2.7 9.0 0.4 -2.0 3.2 -2.7 -2.6 -2.6 1

 2 FA715013005 Fixed nonresidential investment 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 0.8 2

 3 FA714090005 Net acquisition of financial assets 116.4 3083.6 6279.0 4644.8 194.9 1215.9 1555.2 1593.2 1524.2 3

 4 FA713011005 U.S. official reserve assets 0.1 0.0 0.1 0.1 0.1 -0.0 0.1 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 0.3 0.4 0.4 0.3 0.5 0.3 0.3 0.2 0.8 6

 7 FA713022003 Federal Reserve float 0.1 0.1 -0.0 -0.3 -2.4 3.0 -1.9 -0.0 1.5 7

 8 FA713068705 Interbank loans -0.0 44.5 306.4 27.3 -67.3 -88.2 -12.8 1.8 -100.7 8

 9 FA713068703 Discount window (2) -0.0 1.6 196.2 -167.6 -14.9 -7.5 -3.1 -1.3 1.3 9

 10 FA763069143 AMLF and MMLF loans (3) 0.0 2.0 110.2 -63.2 -31.4 -7.6 -7.5 -0.4 0.0 10

 11 FA713068725 PPPLF loans (4) 0.0 41.0 0.0 258.1 -21.1 -73.1 -2.2 3.6 -102.0 11

 12 FA712051000 Security repurchase agreements 255.6 -255.6 28.4 -819.1 -231.8 0.0 0.0 0.0 0.0 12

 13 FA714022005 Debt securities -137.5 3217.0 4281.5 6046.3 1304.3 1235.7 1610.4 1486.6 1706.8 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 99.1 2554.3 4077.9 4137.3 1000.5 1001.4 1017.8 958.9 1004.2 15

 16 FA713061113 Treasury bills 168.5 157.5 625.5 2.8 1.2 0.5 0.2 0.1 0.3 16

 17 FA713061125 Other Treasury securities -69.3 2396.8 3452.4 4134.5 999.3 1000.9 1017.6 958.8 1003.9 17

 18 FA713061705 Agency- and GSE-backed securities -236.6 662.7 203.7 1909.0 303.8 234.4 592.6 527.6 702.5 18

 19 FA713061903 Mortgage-backed securities -236.5 662.7 203.7 1909.0 303.8 234.4 592.6 527.7 702.5 19

 20 FA713061703 Other agency- and GSE-baked securities -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 20

 21 FA713068005 Loans (depository institution loans n.e.c.) 0.0 52.2 234.9 -111.1 3.0 82.1 26.0 109.8 -84.4 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 2.1 234.9 -186.4 -34.7 -5.2 -8.0 -0.5 0.0 23

 24 FA713068863 Finance companies (PPPLF) (4) 0.0 9.4 0.0 14.8 18.5 4.5 41.0 118.4 -24.0 24

 25 FA713068505 Other financial business (7) 0.0 40.7 0.0 60.6 19.3 82.8 -7.0 -8.2 -60.4 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 -2.2 25.0 1427.3 -498.7 -811.4 -17.0 -66.9 -5.2 0.1 27

 28 FA713091103 Nonofficial foreign currencies (9) -0.5 14.2 1415.8 -523.2 -812.0 -24.0 -61.5 -7.8 -1.0 28

 29 FA713093005 Other -1.7 10.9 11.5 24.4 0.5 7.0 -5.4 2.5 1.1 29

 30 FA714190005 Net increase in liabilities 116.4 3083.7 6279.0 4644.8 194.8 1216.0 1554.1 1593.2 1522.7 30

 31 FA713113003 Depository institution reserves -7.1 1446.1 3701.7 1251.0 -175.2 1006.7 2711.1 -644.3 1390.5 31

 32 FA703025005 Vault cash of depository institutions 1.4 15.8 94.2 -31.5 1.7 -1.3 24.6 -24.4 -2.5 32

 33 FA713120005 Checkable deposits and currency 89.6 1738.4 1659.6 4914.8 333.1 46.2 -1615.5 -1202.5 -2639.2 33

 34 FA713123005 Due to federal government 1.7 1324.6 559.5 4937.5 65.7 -264.3 -2353.3 -913.9 -2771.4 34

 35 FA713123023 Treasury cash holdings -0.0 -0.1 0.6 -1.0 -0.2 0.0 0.2 -0.2 0.0 35

 36 FA713123030 Treasury general deposit account 1.7 1324.7 558.9 4938.5 65.8 -264.3 -2353.5 -913.7 -2771.4 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 2.1 38.5 430.0 -312.2 -65.8 102.0 332.2 -421.8 18.2 38

 39 FA713129005 Due to other financial business (10) -1.1 93.0 396.8 -107.1 48.9 33.4 126.2 61.3 30.8 39

 40 FA713122605 Due to rest of the world -0.1 16.7 48.9 -4.7 10.8 11.7 45.5 -111.8 1.8 40

 41 FA713125005 Currency outside banks 87.0 265.7 224.5 401.3 273.5 163.4 234.0 183.6 81.5 41

 42 FA712151003 Security repurchase agreements 32.6 -120.6 929.7 -1344.5 -110.9 43.3 544.5 3635.0 2577.0 42

 43 FA712151103 Reverse repurchase agreement operations (11) 22.2 -54.4 883.3 -1135.8 -0.4 35.2 498.6 3430.5 2451.8 43

 44 FA712151115 Other (12) 10.4 -66.2 46.4 -208.7 -110.5 8.1 45.9 204.5 125.2 44

 45 FA713190005 Miscellaneous liabilities -0.1 4.0 -106.4 -145.0 146.2 121.0 -110.6 -170.6 196.9 45

 46 FA313094213 Treasury contributions to MMLF 0.0 1.5 0.0 6.0 0.0 0.0 0.0 -6.0 0.0 46

 47 FA713164003 Federal Reserve Bank stock -0.6 0.7 1.1 0.2 1.5 -0.1 0.4 1.4 1.1 47

 48 FA713193005 Other 0.5 1.8 -107.4 -151.2 144.7 121.1 -111.0 -166.0 195.8 48

 49 FA717005005 Discrepancy 8.6 2.0 8.3 -0.3 -2.7 2.6 -4.5 -3.4 -4.9 49

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(3) Loans extended to U.S.-chartered depository institutions through the 2008-2010 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) and the

 2020 Money Market Mutual Fund Liquidity Facility (MMLF). The AMLF was dissolved in 2010:Q1.

(4) Loans extended to depository institutions (line 11) and finance companies (line 24) through the Paycheck Protection Program Liquidity Facility (PPPLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the 2008 Term Asset-Backed Securities Loan Facility (TALF I).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF), AMLF (2008-2010), and MMLF (2020).

(7) Loans extended to Federal Reserve funding, credit, and liquidity facility special purpose vehicles created in response to the 2008 Financial Crisis and COVID-19 pandemic.

(8) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assuance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. Series is zero after 2010:Q4.

(9) Reciprocal currency arrangements (swap lines) with foreign central banks.

(10) Deposits of designated financial market utilities (DFMU) and deposits of Federal Reserve facility LLC’s special purpose vehicles.

(11) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(12) Includes reverse repurchase agreements conducted through the Federal Reserve’s Foreign Repo Pool.
Transactions

Z.1, December 9, 2021 25

F.110 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA706000105 Gross saving less net capital transfers paid -57.3 46.6 16.2 74.0 83.1 13.2 61.0 86.4 73.9 1

 2 FA705013005 Fixed nonresidential investment 79.9 82.7 89.2 63.3 87.2 91.1 91.5 90.4 82.3 2

 3 FA705000005 Net lending (+) or net borrowing (-) -101.5 57.7 -329.6 121.7 506.6 -68.0 465.5 -112.1 463.2 3

 4 FA704090005 Net acquisition of financial assets 765.4 3222.3 7333.9 3364.5 578.3 1612.4 4276.9 527.8 3043.3 4

 5 FA703025005 Vault cash 1.4 15.8 94.2 -31.5 1.7 -1.3 24.6 -24.4 -2.5 5

 6 FA713113003 Reserves at Federal Reserve -7.1 1446.1 3701.7 1251.0 -175.2 1006.7 2711.1 -644.3 1390.5 6

 7 FA702050005 Federal funds and security repos 36.3 124.1 -316.4 816.0 -112.8 109.8 -1039.8 -104.0 40.5 7

 8 FA704022005 Debt securities 237.0 1085.5 757.2 1300.1 1171.4 1113.4 2180.2 925.6 1057.3 8

 9 FA703069175 Open market paper 0.5 1.6 112.0 -65.1 -33.0 -7.5 -8.2 -0.8 -0.1 9

 10 FA703061105 Treasury securities 126.7 302.9 -4.1 893.2 274.6 47.8 415.1 341.0 383.6 10

 11 FA703061705 Agency- and GSE-backed securities 115.1 694.0 482.8 374.2 759.0 1159.8 1190.6 417.2 502.4 11

 12 FA703062005 Municipal securities -29.1 72.2 131.3 53.9 53.6 50.0 75.9 58.8 50.8 12

 13 FA703063005 Corporate and foreign bonds 23.7 14.9 35.2 43.9 117.2 -136.7 506.9 109.4 120.6 13

 14 FA704023005 Loans 459.9 365.7 2604.9 -4.0 -687.8 -450.1 31.4 81.9 444.4 14

 15 FA703068005 Depository institution loans n.e.c. 139.3 360.7 2371.4 233.2 -801.2 -360.6 86.8 -290.1 -95.7 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 214.7 88.0 256.7 84.1 108.6 -97.2 -89.5 136.5 362.3 17

 18 FA703066005 Consumer credit 105.9 -83.0 -23.2 -321.2 4.7 7.7 34.1 235.5 177.8 18

 19 FA703064105 Corporate equities 0.8 2.9 4.6 1.4 2.3 3.6 4.0 3.8 -2.4 19

 20 FA703064205 Mutual fund shares -1.8 0.1 1.8 -2.7 0.1 1.3 4.5 2.0 1.9 20

 21 FA763040005 Life insurance reserves 6.7 6.1 3.6 5.3 7.1 8.2 8.3 18.7 9.3 21

 22 FA763092000 U.S. direct investment abroad 7.2 2.1 3.4 10.8 3.1 -8.7 -1.9 20.1 18.1 22

 23 FA703090005 Miscellaneous assets 25.0 173.7 479.0 18.0 368.5 -170.6 354.4 248.2 86.2 23

 24 FA704194005 Net increase in liabilities and equity 866.9 3164.6 7663.5 3242.8 71.7 1680.3 3811.4 639.9 2580.1 24

 25 FA704190005 Net increase in liabilities 862.6 3155.1 7671.3 3237.8 55.7 1655.7 3813.5 663.1 2601.5 25

 26 FA704110005 Net interbank liabilities -93.3 84.4 1977.1 -1023.5 -251.4 -364.8 -111.9 -396.9 563.7 26

 27 FA703127005 Checkable deposits 182.6 2534.2 2138.5 2976.4 632.6 4389.4 1339.3 1948.5 1381.0 27

 28 FA703130005 Time and savings deposits 684.1 795.2 2325.2 3098.4 59.0 -2302.1 1951.8 -424.0 488.0 28

 29 FA702150005 Federal funds and security repos 70.3 -1.2 347.5 -405.7 125.4 -71.9 186.9 -249.3 134.3 29

 30 FA704122005 Debt securities -40.0 58.7 143.4 6.0 8.1 77.2 70.4 4.0 -32.6 30

 31 FA703169175 Open market paper -21.4 28.2 96.9 -13.3 -8.5 37.7 47.8 4.0 -17.4 31

 32 FA763163005 Corporate bonds -18.7 30.5 46.5 19.3 16.6 39.4 22.6 -0.1 -15.2 32

 33 FA703169005 Loans (other loans and advances) -97.8 -241.6 709.5 -1144.1 -279.0 -252.9 32.7 -247.2 -42.7 33

 34 FA763178003 Taxes payable (net) 14.5 -11.2 -66.6 9.5 9.6 2.7 -67.0 -7.6 26.9 34

 35 FA753192305 Foreign direct investment: intercompany debt -2.2 -1.6 -3.7 -2.0 -1.1 0.6 -0.4 -6.7 -5.7 35

 36 FA703190005 Miscellaneous liabilities 144.3 -61.8 100.3 -277.4 -247.6 177.4 411.8 42.3 88.6 36

 37 FA763194735 Investment by holding companies 93.5 72.6 -146.0 111.9 110.7 213.6 57.0 263.9 178.3 37

 38 FA753194503 Investment by other financial businesses -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 36.0 38

 39 FA703193005 Other 54.3 -106.8 235.0 -345.6 -316.6 0.1 185.6 -151.9 -125.6 39

 40 FA703181125 Net equity issues 4.4 9.5 -7.8 5.0 16.0 24.7 -2.1 -23.2 -21.5 40

 41 FA763164103 Corporate equities 1.4 1.9 -9.5 3.0 4.9 9.1 -1.4 6.4 15.3 41

 42 FA753192103 Foreign direct investment: equity 3.0 7.6 1.7 2.1 11.0 15.5 -0.8 -29.6 -36.8 42

 43 FA707005005 Discrepancy -35.8 -93.8 256.6 -111.0 -510.7 -10.0 -496.0 108.1 -471.5 43

 Memo:

 44 FA763066303 Consumer leases not included above (2) 0.8 0.3 0.9 -0.4 0.9 -0.1 -0.4 0.6 -0.1 44

 45 FA703139105 Uninsured deposits (3) 530.1 1757.6 2989.4 2342.0 267.4 1431.7 1338.5 995.2 1394.2 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, December 9, 2021

F.111 U.S.-Chartered Depository Institutions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA766000105 Gross saving less net capital transfers paid -82.3 21.6 -8.9 49.3 58.4 -12.3 35.5 60.4 47.4 1

 2 FA765013005 Fixed nonresidential investment 61.1 62.3 68.2 43.8 66.9 70.3 70.0 68.2 59.8 2

 3 FA764090005 Net acquisition of financial assets 634.4 2930.6 5175.9 4280.0 565.5 1701.0 3019.0 642.3 2068.4 3

 4 FA763025000 Vault cash 1.4 15.8 94.2 -31.5 1.7 -1.3 24.6 -24.4 -2.5 4

 5 FA763013005 Reserves at Federal Reserve 18.9 1282.4 2276.5 1962.5 -196.3 1087.0 1651.1 -512.1 735.0 5

 6 FA762050005 Federal funds and security repos -24.3 179.8 -108.9 916.1 -248.8 160.8 -975.8 23.1 -50.9 6

 7 FA764022005 Debt securities 242.8 1003.2 644.7 1224.7 1108.2 1035.2 1898.0 987.1 954.2 7

 8 FA763069175 Open market paper 0.0 2.0 110.2 -63.2 -31.4 -7.6 -7.5 -0.4 0.0 8

 9 FA763061100 Treasury securities 125.6 327.5 75.5 859.7 306.1 68.7 406.6 355.5 349.1 9

 10 FA763061705 Agency- and GSE-backed securities 102.7 603.1 466.5 243.1 652.6 1050.3 940.8 439.8 445.8 10

 11 FA763061803 Residential mortgage pass-through securities 90.8 381.9 377.8 52.6 415.0 682.0 725.6 319.6 312.8 11

 12 FA763061503 Commercial mortgage pass-through securities 20.9 46.8 25.4 45.8 40.1 75.9 49.6 38.4 31.3 12

 13 FA763061603 Residential CMOs and other structured MBS 1.8 113.3 47.0 116.0 90.5 199.8 51.6 0.2 43.6 13

 14 FA763061403 Commercial CMOs and other structured MBS 20.3 54.4 58.2 39.9 70.1 49.4 61.5 44.7 37.4 14

 15 FA763061795 Other -31.1 6.7 -42.0 -11.3 36.9 43.2 52.5 36.9 20.7 15

 16 FA763062000 Municipal securities -29.5 68.9 127.7 50.2 49.4 48.3 72.3 56.8 49.2 16

 17 FA763063005 Corporate and foreign bonds 44.1 1.7 -135.2 134.9 131.6 -124.5 485.8 135.5 110.1 17

 18 FA763063673 Private residential mortgage pass-through securities 1.4 -0.9 0.7 -0.9 -1.9 -1.7 2.9 0.1 0.2 18

 19 FA763063653 Private commercial mortgage pass-through securities 0.6 0.2 0.0 0.2 0.5 0.1 0.5 0.1 0.4 19

 20 FA763063663 Private residential CMOs and other structured MBS 1.9 4.7 13.0 9.1 -0.2 -3.0 7.4 5.9 27.0 20

 21 FA763063693 Private commercial CMOs and other structured MBS 2.3 -0.4 8.4 -2.0 -6.8 -1.2 7.5 14.5 11.3 21

 22 FA763063095 Other 37.9 -1.9 -157.2 128.5 140.0 -118.8 467.4 114.9 71.1 22

 23 FA764023005 Loans 359.6 286.6 1881.3 161.5 -509.0 -387.4 50.7 -8.6 222.4 23

 24 FA763068005 Depository institution loans n.e.c. 98.7 335.2 1734.9 454.3 -564.6 -283.8 139.0 -293.2 -210.2 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 171.8 41.5 177.5 30.6 66.1 -108.3 -111.2 77.0 299.3 26

 27 FA763066000 Consumer credit 89.0 -90.1 -31.2 -323.4 -10.4 4.7 22.9 207.5 133.4 27

 28 FA763064105 Corporate equities 0.8 2.9 4.6 1.4 2.3 3.6 4.0 3.8 -2.4 28

 29 FA763064203 Mutual fund shares -2.1 -0.8 0.1 -2.9 -0.2 -0.1 0.0 0.0 0.0 29

 30 FA763040005 Life insurance reserves 6.7 6.1 3.6 5.3 7.1 8.2 8.3 18.7 9.3 30

 31 FA763092000 U.S. direct investment abroad 7.2 2.1 3.4 10.8 3.1 -8.7 -1.9 20.1 18.1 31

 32 FA763090005 Miscellaneous assets 23.4 152.4 376.5 32.2 397.4 -196.3 360.0 134.5 185.2 32

 33 FA764194005 Net increase in liabilities and equity 727.5 2809.8 5502.8 3917.0 135.4 1683.8 2639.1 974.6 1813.5 33

 34 FA764190005 Net increase in liabilities 726.1 2807.9 5512.3 3914.0 130.5 1674.7 2640.5 968.2 1798.2 34

 35 FA764110005 Net interbank liabilities -13.8 4.1 489.0 -100.7 -24.7 -347.2 -220.9 -183.2 -18.2 35

 36 FA713022003 Federal Reserve float 0.1 0.1 -0.0 -0.3 -2.4 3.0 -1.9 -0.0 1.5 36

 37 FA713068715 Borrowing from Federal Reserve banks -0.0 44.1 306.4 25.3 -67.3 -87.8 -12.1 2.1 -100.4 37

 38 FA764112005 To domestic banking -0.9 3.6 195.2 -290.0 131.4 -22.4 244.4 -318.0 93.0 38

 39 FA764116005 To foreign banks -13.1 -43.7 -12.5 164.3 -86.3 -240.1 -451.2 132.8 -12.2 39

 40 FA763127005 Checkable deposits 137.8 2381.3 1851.8 2788.7 552.3 4332.4 943.4 1933.0 1324.4 40

 41 FA763123005 Federal government -0.1 1.1 -0.2 0.9 2.0 1.5 -1.4 8.1 -3.4 41

 42 FA763128000 State and local government 6.2 90.8 15.6 112.6 56.2 178.9 78.1 205.2 100.6 42

 43 FA763129205 Private domestic 127.2 2306.5 1788.1 2757.0 524.5 4156.4 879.8 1649.3 1221.2 43

 44 FA763122605 Rest of the world 4.6 -17.1 48.2 -81.8 -30.4 -4.3 -13.1 70.4 6.0 44

 45 FA763130005 Time and savings deposits 511.5 655.7 2474.9 2489.4 30.2 -2371.5 1621.6 -463.7 437.7 45

 46 FA762150005 Federal funds and security repos 23.9 3.9 96.4 -2.5 -45.8 -32.6 66.3 -177.4 30.4 46

 47 FA764122005 Debt securities -37.8 61.3 93.0 37.2 36.8 78.2 51.1 -1.4 -27.6 47

 48 FA763169175 Open market paper -19.1 30.8 46.5 18.0 20.2 38.8 28.4 -1.3 -12.4 48

 49 FA763163005 Corporate bonds -18.7 30.5 46.5 19.3 16.6 39.4 22.6 -0.1 -15.2 49

 50 FA763169305 Loans (other loans and advances) -92.3 -232.6 667.1 -1094.8 -267.8 -234.9 44.6 -242.7 -43.7 50

 51 FA763178003 Taxes payable (net) 14.5 -11.2 -66.6 9.5 9.6 2.7 -67.0 -7.6 26.9 51

 52 FA763190005 Miscellaneous liabilities 182.3 -54.7 -93.3 -212.8 -160.2 247.6 201.4 111.2 68.4 52

 53 FA763194735 Investment by holding companies 93.5 72.6 -146.0 111.9 110.7 213.6 57.0 263.9 178.3 53

 54 FA763193005 Other 88.7 -127.2 52.8 -324.7 -270.9 33.9 144.4 -152.7 -110.0 54

 55 FA763164103 Net equity issues (corporate equities) 1.4 1.9 -9.5 3.0 4.9 9.1 -1.4 6.4 15.3 55

 56 FA767005005 Discrepancy -50.4 -161.5 249.8 -357.5 -438.6 -99.8 -414.4 324.4 -267.3 56

 Memo:

 57 FA763066303 Consumer leases not included above (1) 0.8 0.3 0.9 -0.4 0.9 -0.1 -0.4 0.6 -0.1 57

 58 FA763139105 Uninsured deposits (2) 400.0 1715.2 2967.2 2028.7 324.1 1540.7 949.0 1013.9 1420.6 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, December 9, 2021 27

F.112 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA756330005 Gross saving 5.4 6.8 6.6 6.7 6.8 6.9 7.0 7.2 7.5 1

 2 FA755013005 Fixed nonresidential investment 8.9 9.8 10.1 9.4 9.7 10.0 10.3 10.6 10.8 2

 3 FA754090005 Net acquisition of financial assets 21.2 -8.1 1899.6 -1419.6 -158.2 -354.2 713.0 -166.1 873.8 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 -44.5 48.3 1278.9 -916.8 19.8 -188.5 834.3 -47.6 670.5 5

 6 FA752050005 Federal funds and security repos 60.0 -55.4 -207.4 -99.9 135.8 -49.9 -63.8 -126.2 91.5 6

 7 FA754022005 Debt securities -30.1 -12.6 104.5 -74.6 -55.0 -25.4 -12.3 -42.4 10.1 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 -9.9 -27.3 -58.7 6.4 -28.5 -28.5 -32.1 -14.0 9.2 9

 10 FA753061703 Agency- and GSE-backed securities 8.9 7.9 17.3 4.4 -10.7 20.5 11.5 -16.5 2.5 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 -29.1 6.8 145.9 -85.4 -15.9 -17.4 8.3 -11.8 -1.6 12

 13 FA754023005 Loans 28.3 17.8 634.8 -252.5 -237.5 -73.5 -67.6 9.2 128.3 13

 14 FA753068005 Depository institution loans n.e.c. 25.5 17.2 626.0 -250.1 -235.6 -71.3 -65.2 5.1 118.8 14

 15 FA753069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA753065005 Mortgages 2.8 0.6 8.8 -2.4 -2.0 -2.2 -2.4 4.1 9.5 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 7.5 -6.3 88.8 -75.8 -21.2 -16.9 22.3 40.8 -26.6 18

 19 FA754194005 Net increase in liabilities and equity 38.2 69.5 1893.6 -1154.1 -213.1 -248.4 659.1 -397.8 684.8 19

 20 FA754190005 Net increase in liabilities 35.2 61.9 1891.9 -1156.1 -224.2 -263.9 659.9 -368.2 721.6 20

 21 FA754110005 Net interbank liabilities -78.5 76.2 1421.5 -898.1 -199.8 -19.0 -5.7 -155.8 632.4 21

 22 FA754116005 To foreign banks -70.2 73.0 1411.7 -907.1 -177.2 -35.5 -5.6 -156.9 604.8 22

 23 FA754112005 To domestic banks -8.3 3.2 9.8 9.0 -22.7 16.5 -0.1 1.1 27.6 23

 24 FA753127005 Checkable deposits 21.6 57.0 208.2 18.7 38.7 -37.8 201.8 -43.1 35.4 24

 25 FA753130005 Time and savings deposits 89.0 -50.8 -198.1 232.7 -134.7 -103.0 140.2 -29.1 -74.3 25

 26 FA752150005 Federal funds and security repos 46.4 -5.1 251.1 -403.2 171.2 -39.4 120.6 -72.0 103.9 26

 27 FA753169175 Debt securities (open market paper) -2.3 -2.6 50.5 -31.2 -28.6 -1.0 19.3 5.4 -5.0 27

 28 FA753192305 Foreign direct investment: intercompany debt -2.2 -1.6 -3.7 -2.0 -1.1 0.6 -0.4 -6.7 -5.7 28

 29 FA753190005 Miscellaneous liabilities -38.9 -11.2 162.5 -73.0 -69.8 -64.3 184.1 -66.9 34.9 29

 30 FA753194503 Investment by other financial businesses -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 36.0 30

 31 FA753193005 Other -35.4 16.4 151.1 -29.3 -28.1 -28.1 14.9 2.9 -1.0 31

 32 FA753192103 Net equity issues (foreign direct investment) 3.0 7.6 1.7 2.1 11.0 15.5 -0.8 -29.6 -36.8 32

 33 FA757005005 Discrepancy 13.5 74.6 -9.4 262.9 -57.9 102.7 -57.2 -235.1 -192.3 33

 Memo:

 34 FA753139105 Uninsured deposits (2) 110.6 6.2 10.1 251.4 -96.0 -140.8 342.0 -72.2 -38.9 34

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) All checkable deposits (line 24) and time and savings deposits (line 25) are considered uninsured according to the Federal Deposit Insurance Act.
Transactions

28 Z.1, December 9, 2021

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA746330005 Gross saving 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 FA745013005 Fixed nonresidential investment 0.3 0.3 0.3 0.2 0.3 0.3 0.3 0.3 0.3 2

 3 FA744090005 Net acquisition of financial assets 3.5 12.2 3.1 35.9 12.6 -2.6 36.9 24.8 -32.0 3

 4 FA743013003 Reserves at Federal Reserve -1.7 10.3 14.5 21.4 10.5 -5.2 -0.7 34.7 -3.2 4

 5 FA744022003 Debt securities 13.2 6.1 -3.5 16.1 3.0 9.0 16.9 -7.9 20.5 5

 6 FA743061103 Treasury securities 5.9 -3.6 -13.2 12.2 -9.4 -4.2 9.2 -0.0 11.7 6

 7 FA743061703 Agency- and GSE-backed securities -0.3 7.1 -4.3 8.0 13.2 11.4 7.7 1.7 0.3 7

 8 FA743062003 Municipal securities -0.1 -1.1 0.1 -0.1 -0.6 -3.7 0.0 -0.0 -0.0 8

 9 FA743063005 Corporate and foreign bonds 7.7 3.8 13.9 -4.0 -0.2 5.4 0.0 -9.6 8.5 9

 10 FA744023003 Loans 3.5 0.9 7.6 8.5 -5.7 -6.8 -9.5 -3.7 -5.6 10

 11 FA743068005 Depository institution loans n.e.c. 5.0 0.6 8.0 6.6 -6.2 -6.2 -5.2 -1.4 -5.4 11

 12 FA743065103 One-to-four-family residential mortgages -0.9 0.3 -0.7 1.5 1.4 -0.9 -2.6 -1.8 -1.4 12

 13 FA743065505 Commercial mortgages -0.6 0.0 0.3 0.4 -0.9 0.3 -1.7 -0.5 1.2 13

 14 FA743093005 Miscellaneous assets -11.5 -5.1 -15.5 -10.1 4.8 0.5 30.2 1.7 -43.8 14

 15 FA744190005 Net increase in liabilities 5.6 14.6 9.1 37.8 15.3 -3.9 29.7 29.1 -33.8 15

 16 FA744110005 Net interbank liabilities -0.3 0.3 -1.4 -0.1 1.8 0.7 0.1 -0.1 -0.0 16

 17 FA743127003 Checkable deposits 4.8 11.0 3.3 31.4 8.3 1.1 18.4 27.1 -13.7 17

 18 FA743130003 Time and savings deposits 1.4 3.1 6.7 4.8 2.8 -2.1 13.3 3.3 -19.9 18

 19 FA743193005 Miscellaneous liabilities -0.3 0.2 0.4 1.8 2.3 -3.6 -2.2 -1.2 -0.2 19

 20 FA747005005 Discrepancy 2.0 2.3 6.0 1.9 2.6 -1.4 -7.3 4.2 -1.8 20

 Memo:

 21 FA743139105 Uninsured deposits (2) 4.3 10.5 2.9 23.9 14.0 1.1 11.6 28.9 -3.7 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 19.4 18.0 18.3 17.7 17.7 18.4 18.4 18.6 18.9 1

 2 FA475013005 Fixed nonresidential investment 9.7 10.4 10.7 9.9 10.3 10.6 11.0 11.2 11.4 2

 3 FA474090005 Net acquisition of financial assets 106.3 287.5 255.3 468.2 158.4 268.1 507.9 26.8 133.2 3

 4 FA473013005 Reserves at Federal Reserve 20.1 105.0 131.9 184.0 -9.2 113.5 226.4 -119.3 -11.8 4

 5 FA472050053 Federal funds and security repos 0.6 -0.3 -0.1 -0.1 0.2 -1.1 -0.2 -0.9 -0.1 5

 6 FA474022005 Debt securities 11.1 88.8 11.5 133.9 115.2 94.7 277.5 -11.2 72.5 6

 7 FA473069153 Open market paper 0.5 -0.4 1.8 -1.9 -1.5 0.2 -0.7 -0.3 -0.1 7

 8 FA473061105 Treasury securities 5.1 6.3 -7.7 15.0 6.3 11.8 31.4 -0.5 13.6 8

 9 FA473061705 Agency- and GSE-backed securities 3.9 75.9 3.3 118.7 104.0 77.6 230.5 -7.7 53.8 9

 10 FA473062005 Municipal securities 0.4 4.4 3.6 3.8 4.8 5.3 3.6 2.0 1.6 10

 11 FA473063005 Corporate and foreign bonds 1.1 2.6 10.6 -1.7 1.7 -0.2 12.8 -4.7 3.6 11

 12 FA474023000 Loans 68.5 60.4 81.1 78.5 64.4 17.6 57.7 85.0 99.3 12

 13 FA473068005 Depository institution loans n.e.c. 10.1 7.7 2.4 22.4 5.2 0.7 18.2 -0.6 1.1 13

 14 FA473065100 One-to-four-family residential mortgages 41.6 45.6 70.7 53.9 44.1 13.9 28.4 57.6 53.8 14

 15 FA473066000 Consumer credit 16.8 7.1 8.0 2.2 15.1 3.0 11.2 28.0 44.5 15

 16 FA473064205 Mutual fund shares 0.3 0.9 1.8 0.2 0.3 1.3 4.5 2.0 1.9 16

 17 FA473090005 Miscellaneous assets 5.7 32.6 29.2 71.7 -12.6 42.1 -58.0 71.2 -28.5 17

 18 FA474190005 Net increase in liabilities 95.6 270.7 258.0 442.0 134.1 248.9 483.5 34.0 115.5 18

 19 FA474110005 Net interbank liabilities -0.6 3.8 67.9 -24.5 -28.7 0.7 114.5 -57.7 -50.5 19

 20 FA473127003 Checkable deposits 18.4 85.0 75.2 137.6 33.3 93.8 175.8 31.5 34.9 20

 21 FA473130005 Time and savings deposits 82.2 187.1 41.7 371.5 160.6 174.6 176.6 65.6 144.4 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) -5.5 -9.0 42.4 -49.2 -11.2 -18.0 -11.9 -4.5 1.1 23

 24 FA473193005 Miscellaneous liabilities 1.2 3.8 30.7 6.7 -19.9 -2.2 28.5 -0.8 -14.4 24

 25 FA477005005 Discrepancy -1.0 -9.1 10.3 -18.4 -16.8 -11.4 -17.0 14.6 -10.1 25

 Memo:

 26 FA473139103 Uninsured deposits (1) 15.1 25.8 9.2 38.0 25.3 30.8 35.9 24.5 16.3 26

(1) Includes checkable deposits (line 20) and time and savings deposits (line 21) not insured by the National Credit Union Share Insurance Fund.
Transactions

Z.1, December 9, 2021 29

F.115 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA516000105 Gross saving less net capital transfers paid (1) 88.4 80.4 76.2 77.1 78.0 90.3 78.7 91.0 -1.3 1

 2 FA515013005 Fixed nonresidential investment 30.6 32.1 32.4 31.1 32.1 33.0 34.3 35.3 36.1 2

 3 FA514090005 Net acquisition of financial assets 77.7 109.9 49.8 95.8 140.3 153.5 87.8 166.7 112.7 3

 4 FA513020005 Checkable deposits and currency 17.4 2.6 -13.8 41.3 -32.9 15.5 29.3 -14.0 38.0 4

 5 FA513034005 Money market fund shares 2.5 9.9 -0.3 32.5 -10.8 18.3 15.4 -23.5 34.6 5

 6 FA512051005 Security repurchase agreements 0.6 0.2 1.5 2.5 0.5 -3.6 0.3 1.0 -1.2 6

 7 FA514022005 Debt securities 29.7 53.1 67.9 65.6 106.5 -27.6 94.1 126.2 38.3 7

 8 FA513069105 Open market paper 0.5 -0.8 5.6 9.4 -0.6 -17.5 1.3 4.1 -4.6 8

 9 FA513061105 Treasury securities -7.0 0.9 3.1 23.6 19.9 -43.0 44.5 75.0 -6.6 9

 10 FA513061705 Agency- and GSE-backed securities 6.2 3.0 -8.5 -13.1 35.0 -1.2 -9.8 -16.1 -1.1 10

 11 FA513062005 Municipal securities -4.7 2.9 0.3 -0.1 3.9 7.7 -2.0 -2.0 0.1 11

 12 FA513063005 Corporate and foreign bonds 34.7 47.0 67.5 45.8 48.3 26.4 60.1 65.2 50.5 12

 13 FA513065505 Loans (commercial mortgages) 2.4 1.4 3.0 0.3 -0.7 3.1 0.2 4.9 3.7 13

 14 FA513064105 Corporate equities -1.8 -22.3 7.3 -72.4 -39.8 15.9 1.3 7.0 0.7 14

 15 FA513064205 Mutual fund shares 0.1 0.8 1.7 1.0 5.2 -4.6 1.3 -5.8 -2.8 15

 16 FA513070005 Trade receivables 6.6 18.1 33.4 47.3 48.2 -56.6 30.0 24.2 36.8 16

 17 FA513092003 U.S. direct investment abroad 3.9 16.7 17.0 31.2 20.6 -1.8 22.4 6.4 18.1 17

 18 FA513090005 Miscellaneous assets 16.2 29.3 -68.0 -53.4 43.5 194.9 -106.5 40.2 -53.5 18

 19 FA513092403 Equity in FHLB 0.0 0.5 0.5 0.3 1.5 -0.2 -0.1 -0.2 -0.2 19

 20 FA513076005 Policy payables (2) 10.5 3.8 1.9 8.6 14.3 -9.5 31.0 24.4 53.4 20

 21 FA513093005 Other 5.7 24.9 -70.4 -62.3 27.7 204.5 -137.4 16.0 -106.7 21

 22 FA514194005 Net increase in liabilities and equity 82.1 85.6 4.9 161.5 200.6 -24.5 224.4 162.4 290.0 22

 23 FA514190005 Net increase in liabilities 82.5 93.4 25.1 171.2 202.3 -24.9 229.2 160.2 298.2 23

 24 FA512151003 Security repurchase agreements -0.0 0.1 0.2 0.3 0.1 -0.3 0.0 0.1 -0.1 24

 25 FA513169333 Loans (other loans and advances) 0.2 6.4 9.8 1.2 19.8 -5.0 -2.5 -3.9 -3.6 25

 26 FA513170005 Trade payables 2.6 11.1 5.6 24.8 41.3 -27.4 8.7 6.8 15.0 26

 27 FA513178005 Taxes payable -0.3 0.4 10.6 1.1 -14.5 4.6 6.6 -11.6 -3.2 27

 28 FA513192305 Foreign direct investment: intercompany debt -0.4 -0.8 -2.7 -2.6 -1.2 3.2 -0.4 -1.0 -2.1 28

 29 FA513190005 Miscellaneous liabilities 80.4 76.2 1.6 146.3 156.8 0.0 216.8 169.8 292.2 29

 30 FA513194733 Investment by parent companies 0.8 -3.9 -0.6 -19.3 4.4 -0.2 2.9 3.1 -0.0 30

 31 FA513176005 Policy payables 44.0 55.2 27.8 77.1 121.5 -5.5 134.0 105.2 230.8 31

 32 FA513193005 Other 35.5 24.9 -25.6 88.4 30.9 5.8 79.9 61.5 61.5 32

 33 FA513181125 Net equity issues -0.4 -7.8 -20.2 -9.7 -1.6 0.4 -4.7 2.2 -8.2 33

 34 FA513164103 Corporate equity issues -7.9 -3.5 -14.1 2.4 -1.2 -0.9 -2.4 -5.4 -12.6 34

 35 FA513192103 Foreign direct investment: equity 7.5 -4.3 -6.1 -12.1 -0.4 1.3 -2.3 7.6 4.4 35

 36 FA517005005 Discrepancy 62.2 24.0 -1.1 111.6 106.3 -120.8 181.1 51.3 140.0 36

 Memo:

 37 FA513200003 Securities lending (3) 0.1 -0.5 -0.3 0.5 0.1 -2.3 5.0 7.4 -0.1 37

 38 FA513176015 Direct reserve 37.0 50.2 25.3 65.9 103.0 6.8 113.0 88.8 194.7 38

 39 FA513176025 Reinsured to U.S. reinsurers 5.0 7.1 3.6 15.9 26.5 -17.5 15.3 12.0 26.4 39

 40 FA263176005 Reinsured to non-U.S. reinsurers 5.5 -3.3 -1.6 -7.3 -12.2 8.1 15.7 12.3 27.0 40

 41 FA263076005 Reinsured from non-U.S. reinsurers 2.0 -2.1 -1.1 -4.8 -7.9 5.2 5.7 4.5 9.8 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, December 9, 2021

F.116 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA546000105 Gross saving less net capital transfers paid (2) 50.7 19.5 30.6 18.1 14.1 15.2 13.5 16.1 16.5 1

 2 FA545013005 Fixed nonresidential investment 23.5 24.8 24.9 24.0 24.8 25.6 26.5 27.3 27.9 2

 3 FA544090005 Net acquisition of financial assets 144.0 387.8 1099.7 49.7 142.8 259.1 -39.3 104.4 214.7 3

 4 FA543020005 Checkable deposits and currency 4.0 33.0 195.6 19.7 -65.9 -17.6 -25.6 75.9 -7.2 4

 5 FA543034005 Money market fund shares 3.6 7.9 119.2 -15.0 -46.7 -25.9 -15.9 16.6 -17.2 5

 6 FA542051075 Security repurchase agreements 4.1 1.9 12.9 -4.3 8.5 -9.6 -4.6 0.3 2.9 6

 7 FA544022005 Debt securities 122.1 184.3 290.7 56.6 304.5 85.6 73.8 73.2 330.1 7

 8 FA543069105 Open market paper -4.4 5.2 36.6 -16.1 21.3 -20.9 -13.8 -0.4 8.7 8

 9 FA543061105 Treasury securities -6.4 7.1 -5.9 6.6 28.0 -0.3 -10.9 21.2 21.9 9

 10 FA543061705 Agency- and GSE-backed securities -1.3 -20.2 -16.3 -40.3 5.1 -29.4 -37.1 -14.1 -0.9 10

 11 FA543062005 Municipal securities -1.0 -2.9 -4.0 -3.8 -1.5 -2.3 -0.8 0.3 4.7 11

 12 FA543063005 Corporate and foreign bonds 135.1 195.1 280.2 110.2 251.5 138.4 136.4 66.2 295.8 12

 13 FA544023005 Loans 50.1 27.2 53.9 9.4 5.2 40.2 12.1 45.1 60.3 13

 14 FA543069005 Other loans and advances -1.0 1.7 19.2 -9.6 0.2 -3.2 2.8 3.6 6.7 14

 15 FA543065005 Mortgages 51.1 25.5 34.7 19.0 5.0 43.4 9.4 41.4 53.6 15

 16 FA543064105 Corporate equities 1.3 1.2 6.0 -14.6 -7.7 21.0 -13.7 -47.8 -27.9 16

 17 FA543064205 Mutual fund shares -86.7 -99.3 -153.5 -61.3 -97.7 -84.5 -112.5 -215.2 -121.4 17

 18 FA543070005 Trade receivables 6.5 22.5 19.8 28.7 18.9 22.5 1.4 14.8 -1.7 18

 19 FA543040005 Life insurance reserves 6.7 5.6 4.9 7.2 4.7 5.6 -8.4 13.7 10.2 19

 20 FA543050005 Pension entitlements 7.7 91.4 82.3 116.0 76.6 90.8 4.1 18.9 14.6 20

 21 FA543092073 U.S. direct investment abroad -2.4 -1.5 3.4 -3.3 -5.9 -0.1 -0.6 -3.2 -1.0 21

 22 FA543090005 Miscellaneous assets 27.1 113.6 464.6 -89.6 -51.6 131.2 50.6 112.0 -27.0 22

 23 FA543092473 Equity in FHLB 0.6 2.5 3.2 3.9 1.2 1.9 3.1 0.6 0.2 23

 24 FA543077073 Deferred and unpaid life ins. premiums 1.5 0.1 10.2 -3.8 -1.7 -4.4 8.5 -3.3 -0.1 24

 25 FA543095105 Other reserves 3.3 8.8 7.7 11.3 7.4 8.8 -0.4 1.7 3.3 25

 26 FA543093005 Other 21.7 102.2 443.4 -100.9 -58.5 124.8 39.4 113.1 -30.4 26

 27 FA544194005 Net increase in liabilities and equity 115.4 403.3 964.0 68.5 163.4 417.3 -168.5 31.1 201.6 27

 28 FA544190005 Net increase in liabilities 137.5 414.9 982.9 64.1 177.7 435.1 -132.3 41.2 236.3 28

 29 FA542151073 Security repurchase agreements -6.5 1.1 31.5 -16.1 16.5 -27.7 -13.3 0.6 6.2 29

 30 FA543169373 Loans (other loans and advances) 7.5 15.3 76.0 2.2 -18.4 1.3 33.3 -14.0 -5.7 30

 31 FA543170005 Trade payables 13.4 88.1 78.2 112.5 73.9 87.8 8.3 28.7 8.1 31

 32 FA543140005 Life insurance reserves 31.7 85.0 188.6 -4.5 72.0 83.9 -75.9 63.2 69.5 32

 33 FA543150005 Pension entitlements (3) 8.8 92.2 147.9 -39.0 82.1 177.8 -132.0 -103.9 80.1 33

 34 FA543178075 Taxes payable 0.4 0.9 10.1 4.9 -14.3 3.0 4.9 -10.1 -0.3 34

 35 FA543192375 Foreign direct investment: intercompany debt 0.4 0.8 -1.4 -0.8 -1.9 7.4 -1.6 -0.8 -4.2 35

 36 FA543190005 Miscellaneous liabilities 81.7 131.6 451.8 5.1 -32.2 101.6 44.0 77.5 82.4 36

 37 FA543194733 Investment by parent companies 1.1 -5.9 -23.7 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 FA673090543 Funding agreements backing securities (4) 6.2 20.9 23.4 17.7 25.7 16.8 42.8 59.6 35.9 38

 39 FA543195005 Other reserves (5) 17.9 19.2 10.7 24.0 27.2 15.0 11.1 4.4 25.7 39

 40 FA593095005 Unallocated insurance contracts 17.5 6.7 -11.5 17.9 8.5 11.7 -15.7 11.9 -2.6 40

 41 FA543193005 Other 39.0 90.7 452.9 -54.5 -93.6 58.0 5.7 1.5 23.4 41

 42 FA543181125 Net equity issues -22.0 -11.7 -18.8 4.3 -14.4 -17.8 -36.2 -10.1 -34.7 42

 43 FA543164173 Corporate equity issues -17.0 -15.2 -22.5 1.8 -8.2 -31.8 -23.4 -20.5 -29.7 43

 44 FA543192173 Foreign direct investment: equity -5.1 3.5 3.7 2.6 -6.2 14.0 -12.7 10.4 -5.0 44

 45 FA547005005 Discrepancy -1.4 10.1 -130.0 12.9 9.8 147.9 -142.2 -84.5 -24.5 45

 Memo:

 46 FA543200073 Securities lending (6) 2.1 3.4 6.5 2.7 -1.0 5.4 16.6 12.4 11.9 46

 47 FA543176015 Direct reserve 74.5 216.8 413.1 -2.2 177.6 278.8 -145.5 3.8 171.7 47

 48 FA543176025 Reinsured to U.S. reinsurers 19.6 120.6 142.7 136.9 96.4 106.2 -17.9 26.5 29.5 48

 49 FA543076035 Reinsured to non-U.S. reinsurers 15.3 87.9 80.7 110.9 73.4 86.5 -3.3 30.6 24.4 49

 50 FA543176035 Reinsured from non-U.S. reinsurers 0.9 -21.5 -18.9 -27.6 -18.1 -21.5 0.0 0.3 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, December 9, 2021 31

F.116.g Life Insurance Companies: General Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA544090075 Net acquisition of financial assets 217.9 425.2 1202.1 124.1 190.4 184.0 97.9 351.9 228.8 1

 2 FA543020075 Checkable deposits and currency 8.2 22.7 189.0 8.5 -75.9 -30.8 -24.1 72.3 -14.2 2

 3 FA543034075 Money market fund shares 6.8 3.0 82.2 -6.9 -42.6 -20.9 -12.0 22.5 -15.0 3

 4 FA542051075 Security repurchase agreements 4.1 1.9 12.9 -4.3 8.5 -9.6 -4.6 0.3 2.9 4

 5 FA544022075 Debt securities 97.7 144.6 250.0 72.7 246.4 9.2 92.1 62.6 220.8 5

 6 FA543069175 Open market paper -3.0 0.5 33.2 -21.1 16.6 -26.8 -12.1 -1.7 6.3 6

 7 FA543061175 Treasury securities -5.5 5.8 12.1 -1.1 23.2 -11.0 -8.6 18.8 11.0 7

 8 FA543061775 Agency- and GSE-backed securities -6.9 -21.5 5.3 -51.4 -0.5 -39.4 -33.7 -20.4 -19.4 8

 9 FA543062075 Municipal securities -3.2 -4.3 -5.2 -5.1 -2.8 -4.1 -0.2 -0.4 1.7 9

 10 FA543063075 Corporate and foreign bonds 116.3 164.1 204.6 151.4 209.8 90.5 146.8 66.2 221.3 10

 11 FA544023075 Loans 48.6 23.1 53.7 3.7 1.6 33.6 14.0 41.1 52.6 11

 12 FA543069075 Other loans and advances 3.6 1.7 19.2 -9.6 0.2 -3.2 2.8 3.6 6.7 12

 13 FA543065075 Mortgages 45.0 21.5 34.4 13.3 1.4 36.8 11.2 37.5 45.9 13

 14 FA543064175 Corporate equities 1.5 14.2 14.1 -8.5 2.9 48.2 10.1 15.2 18.7 14

 15 FA543064275 Mutual fund shares -1.2 -0.4 -0.5 0.1 -1.7 0.4 -0.8 0.1 -2.7 15

 16 FA543070075 Trade receivables 6.5 22.5 19.8 28.7 18.9 22.5 1.4 14.8 -1.7 16

 17 FA543040075 Life insurance reserves 6.7 5.6 4.9 7.2 4.7 5.6 -8.4 13.7 10.2 17

 18 FA543050075 Pension entitlements 7.8 93.5 82.3 119.7 78.6 93.5 4.2 19.1 14.6 18

 19 FA543092073 U.S. direct investment abroad -2.4 -1.5 3.4 -3.3 -5.9 -0.1 -0.6 -3.2 -1.0 19

 20 FA543090075 Miscellaneous assets 33.6 96.1 490.3 -93.5 -45.0 32.4 26.6 93.6 -56.5 20

 21 FA544194075 Net increase in liabilities and equity 188.6 441.8 1077.4 139.5 210.8 339.5 -39.2 278.7 214.8 21

 22 FA544190075 Net increase in liabilities 210.7 453.5 1096.2 135.2 225.2 357.3 -3.0 288.8 249.5 22

 23 FA542151073 Security repurchase agreements -6.5 1.1 31.5 -16.1 16.5 -27.7 -13.3 0.6 6.2 23

 24 FA543169373 Loans (other loans and advances) 7.5 15.3 76.0 2.2 -18.4 1.3 33.3 -14.0 -5.7 24

 25 FA543170075 Trade payables 13.5 88.7 78.0 113.5 74.5 88.7 8.3 28.8 8.2 25

 26 FA543140075 Life insurance reserves 45.7 91.1 206.2 4.9 79.4 73.9 -58.8 95.6 71.4 26

 27 FA543150075 Pension entitlements (1) 43.3 100.7 222.2 -10.0 101.1 89.4 -38.5 69.7 73.6 27

 28 FA543178075 Taxes payable 0.4 0.9 10.1 4.9 -14.3 3.0 4.9 -10.1 -0.3 28

 29 FA543192375 Foreign direct investment: intercompany debt 0.4 0.8 -1.4 -0.8 -1.9 7.4 -1.6 -0.8 -4.2 29

 30 FA543190075 Miscellaneous liabilities 106.3 154.9 473.4 36.7 -11.7 121.3 62.6 119.0 100.3 30

 31 FA543181125 Net equity issues -22.0 -11.7 -18.8 4.3 -14.4 -17.8 -36.2 -10.1 -34.7 31

 32 FA543164173 Corporate equity issues -17.0 -15.2 -22.5 1.8 -8.2 -31.8 -23.4 -20.5 -29.7 32

 33 FA543192173 Foreign direct investment: equity -5.1 3.5 3.7 2.6 -6.2 14.0 -12.7 10.4 -5.0 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 -73.9 -37.3 -102.4 -74.4 -47.6 75.1 -137.2 -247.5 -14.1 1

 2 FA543020083 Checkable deposits and currency -4.2 10.3 6.6 11.2 10.0 13.2 -1.6 3.6 7.0 2

 3 FA543034385 Money market fund shares -3.2 5.0 37.0 -8.1 -4.1 -5.0 -3.9 -5.9 -2.2 3

 4 FA544022085 Debt securities 24.3 39.8 40.7 -16.0 58.1 76.4 -18.4 10.6 109.3 4

 5 FA543069183 Open market paper -1.4 4.8 3.4 5.0 4.7 5.9 -1.7 1.2 2.4 5

 6 FA543061183 Treasury securities -0.9 1.3 -18.0 7.6 4.8 10.7 -2.3 2.4 10.9 6

 7 FA543061783 Agency- and GSE-backed securities 5.5 1.3 -21.5 11.1 5.6 10.0 -3.4 6.4 18.5 7

 8 FA543062083 Municipal securities 2.2 1.4 1.2 1.3 1.3 1.9 -0.6 0.7 3.0 8

 9 FA543063085 Corporate and foreign bonds 18.8 31.0 75.6 -41.1 41.7 48.0 -10.4 -0.1 74.5 9

 10 FA544023085 Loans 1.4 4.1 0.2 5.7 3.6 6.6 -1.8 4.0 7.7 10

 11 FA543069483 Other loans and advances -4.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA543065083 Mortgages 6.1 4.1 0.2 5.7 3.6 6.6 -1.8 4.0 7.7 12

 13 FA543064185 Corporate equities -0.2 -13.0 -8.1 -6.1 -10.5 -27.2 -23.7 -63.0 -46.7 13

 14 FA543064385 Mutual fund shares -85.5 -98.8 -153.0 -61.4 -96.1 -84.9 -111.8 -215.3 -118.6 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 -0.1 -2.1 0.0 -3.7 -2.0 -2.8 -0.1 -0.1 -0.0 17

 18 FA543090085 Miscellaneous assets -6.5 17.6 -25.8 4.0 -6.6 98.8 24.0 18.4 29.5 18

 19 FA544190085 Net increase in liabilities -73.2 -38.5 -113.3 -71.1 -47.5 77.8 -129.3 -247.6 -13.2 19

 20 FA543170085 Trade payables -0.1 -0.6 0.1 -1.0 -0.6 -0.9 -0.0 -0.1 -0.0 20

 21 FA543140085 Life insurance reserves -14.0 -6.1 -17.6 -9.4 -7.4 10.0 -17.1 -32.5 -1.9 21

 22 FA543150085 Pension entitlements (1) -34.6 -8.5 -74.3 -29.0 -19.0 88.4 -93.5 -173.6 6.5 22

 23 FA543190085 Miscellaneous liabilities -24.6 -23.4 -21.6 -31.6 -20.5 -19.8 -18.6 -41.5 -17.8 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds which are included in miscellaneous liabilities (line 23).
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32 Z.1, December 9, 2021

F.117 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA596330005 Gross saving 0.7 0.7 0.6 0.7 0.7 0.7 0.7 0.7 0.7 1

 2 FA595013005 Fixed nonresidential investment 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 0.6 2

 3 FA594090005 Net acquisition of financial assets (2) 434.1 419.1 353.3 522.2 415.8 385.0 344.4 392.8 364.7 3

 4 FA593020005 Checkable deposits and currency 12.2 12.9 7.4 1.5 9.0 33.7 -21.3 14.6 4.1 4

 5 FA593030005 Time and savings deposits -10.9 -9.5 -5.4 -13.7 -9.3 -9.7 -5.3 4.7 0.2 5

 6 FA593034005 Money market fund shares 20.5 46.8 98.0 31.3 37.5 20.2 17.8 19.8 23.3 6

 7 FA592051005 Security repurchase agreements 16.8 6.4 1.8 -4.2 -0.3 28.4 43.6 42.4 3.1 7

 8 FA594022005 Debt securities 24.9 292.5 301.1 213.9 296.4 358.4 389.8 670.2 -777.8 8

 9 FA593069105 Open market paper -8.8 -2.4 14.0 -20.2 -0.6 -2.7 23.6 15.5 -2.8 9

 10 FA593061105 Treasury securities (3) 141.6 235.7 162.7 175.5 299.3 305.3 231.9 635.0 -802.6 10

 11 FA593061705 Agency- and GSE-backed securities 34.2 58.1 76.4 23.6 100.2 32.3 26.6 68.3 23.8 11

 12 FA593062045 Municipal securities -1.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 12

 13 FA593063005 Corporate and foreign bonds -141.1 1.1 48.1 35.0 -102.4 23.5 107.7 -48.5 3.8 13

 14 FA594023005 Loans -1.6 -6.0 -4.8 -8.1 -3.8 -7.3 -2.5 -1.3 719.0 14

 15 FA313169003 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 722.2 15

 16 FA593065005 Mortgages -1.6 -6.0 -4.8 -8.1 -3.8 -7.3 -2.5 -1.3 -3.3 16

 17 FA593064105 Corporate equities -202.1 -142.4 -99.1 -232.3 29.3 -267.4 -183.8 -270.6 -149.2 17

 18 FA593064205 Mutual fund shares 22.0 -89.3 -216.3 -61.7 -114.0 34.6 -190.1 -58.5 -40.6 18

 19 FA593090005 Miscellaneous assets 552.2 307.7 270.5 595.4 170.9 193.9 296.3 -28.6 582.5 19

 20 FA593095005 Unallocated insurance contracts (4) 17.5 6.7 -11.5 17.9 8.5 11.7 -15.7 11.9 -2.6 20

 21 FA573074005 Contributions receivable -4.6 -10.0 -2.7 -11.3 -11.6 -14.2 -9.0 -14.6 -12.9 21

 22 FA593073005 Claims of pension fund on sponsor (5) 289.9 277.5 178.4 236.0 316.8 378.7 241.4 129.1 489.1 22

 23 FA593093005 Other 249.4 33.5 106.3 352.9 -142.8 -182.2 79.6 -155.0 109.0 23

 24 FA594190005 Net increase in pension entitlements (liabilities) 433.9 418.9 353.2 522.0 415.7 384.9 344.3 392.7 364.6 24

 Memo:

 25 FA153050015 Household retirement assets (6) 664.2 623.9 532.0 669.3 566.6 727.4 314.3 588.6 ND 25

 26 FA594190045 Defined benefit plans 274.7 271.8 271.7 269.8 273.4 272.2 273.9 269.7 275.6 26

 27 FA594090055 Defined contribution plans 159.2 147.2 81.5 252.3 142.3 112.7 70.4 123.0 89.0 27

 28 FA893131573 Individual retirement plans (IRAs) (7) 248.5 151.7 -37.1 261.5 116.9 265.3 93.1 331.7 ND 28

 29 FA543150015 Annuities at life insurance companies (8) -18.2 53.2 215.9 -114.2 34.0 77.3 -123.1 -135.8 ND 29

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements.

(6) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(7) IRA assets are not included above. See memo item on table F.227 for a sectoral distribution of IRA accounts.

(8) Annuities held in IRAs are excluded. They are included in line 28.
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Z.1, December 9, 2021 33

F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA576330005 Gross saving 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 1

 2 FA575013005 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 2

 3 FA574090005 Net acquisition of financial assets (2) 109.0 73.0 56.5 116.6 65.2 53.7 10.3 49.0 51.3 3

 4 FA573020005 Checkable deposits and currency 7.3 8.1 10.9 7.4 7.4 6.7 2.2 5.4 4.3 4

 5 FA573030005 Time and savings deposits -15.4 -7.3 -4.4 -7.8 -7.9 -9.1 -5.2 3.1 0.2 5

 6 FA573034005 Money market fund shares 21.2 42.7 61.4 39.4 38.9 31.3 10.7 26.0 23.3 6

 7 FA572051005 Security repurchase agreements 13.3 5.3 3.8 5.6 5.6 6.2 3.4 6.0 5.2 7

 8 FA574022005 Debt securities 47.5 92.4 139.4 48.7 72.4 109.1 23.9 91.5 92.4 8

 9 FA573069105 Open market paper -2.5 -0.5 1.5 -1.0 -1.0 -1.7 -1.5 -2.0 -1.9 9

 10 FA573061105 Treasury securities 52.1 97.3 115.8 92.5 92.2 88.6 35.7 75.6 62.2 10

 11 FA573061705 Agency- and GSE-backed securities 11.6 29.9 56.8 -18.1 41.7 39.0 14.4 32.3 26.2 11

 12 FA573063005 Corporate and foreign bonds -13.8 -34.2 -34.8 -24.8 -60.5 -16.8 -24.7 -14.3 5.9 12

 13 FA573065005 Loans (mortgages) -0.6 -5.4 -6.6 -5.0 -5.0 -4.7 -1.8 -4.0 -3.3 13

 14 FA573064105 Corporate equities -168.8 -140.8 -173.5 -99.5 -123.8 -166.3 -55.5 -146.6 -140.3 14

 15 FA573064205 Mutual fund shares 21.9 -113.4 -183.5 -67.5 -99.9 -102.6 -6.5 -79.9 -41.1 15

 16 FA573090005 Miscellaneous assets 182.6 191.3 209.2 195.5 177.5 183.0 39.1 147.6 110.6 16

 17 FA573095005 Unallocated insurance contracts (3) 3.0 -1.0 -5.2 9.4 -7.1 -1.3 -18.6 2.0 -6.3 17

 18 FA573074005 Contributions receivable -4.6 -10.0 -2.7 -11.3 -11.6 -14.2 -9.0 -14.6 -12.9 18

 19 FA573073005 Claims of pension fund on sponsor (4) 74.4 46.1 22.9 50.6 50.0 60.8 13.7 44.8 35.5 19

 20 FA573093005 Other 109.8 156.2 194.2 146.8 146.2 137.7 53.0 115.3 94.3 20

 21 FA574190005 Net increase in pension entitlements (liabilities) 109.0 73.0 56.5 116.6 65.2 53.6 10.3 49.0 51.3 21

 Memo:

 Net acquisition of financial assets

 22 FA574090045 Defined benefit plans (5) -34.6 -42.9 -40.8 -42.7 -44.1 -43.8 -43.8 -43.8 -43.8 22

 23 FA574090055 Defined contribution plans (6) 143.6 115.9 97.3 159.3 109.4 97.5 54.2 92.9 95.2 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Additional detail on defined benefit plans is available on table F.118.b.

(6) Additional detail on defined contribution plans is available on table F.118.c.
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34 Z.1, December 9, 2021

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA574090045 Net acquisition of financial assets (1) -34.6 -42.9 -40.8 -42.7 -44.1 -43.8 -43.8 -43.8 -43.8 1

 2 FA573020043 Checkable deposits and currency -0.0 -0.4 -0.3 -0.4 -0.4 -0.4 -0.2 -0.4 -0.4 2

 3 FA573030043 Time and savings deposits -15.8 -8.7 -6.2 -9.1 -9.2 -10.2 -5.6 2.2 -0.5 3

 4 FA573034043 Money market fund shares 10.7 1.8 1.3 1.9 1.9 2.2 1.2 2.1 1.8 4

 5 FA572051043 Security repurchase agreements 13.3 5.3 3.8 5.6 5.6 6.2 3.4 6.0 5.2 5

 6 FA574022045 Debt securities 28.8 -8.3 7.0 -44.4 -20.0 24.4 -5.6 22.7 37.1 6

 7 FA573069143 Open market paper -3.3 -3.7 -2.6 -3.9 -3.9 -4.3 -2.4 -4.2 -3.6 7

 8 FA573061143 Treasury securities 34.7 20.2 14.5 21.2 21.4 23.8 13.1 22.9 19.8 8

 9 FA573061743 Agency- and GSE-backed securities 1.7 -11.4 2.6 -56.2 3.8 4.2 2.3 4.1 3.5 9

 10 FA573063043 Corporate and foreign bonds -4.3 -13.4 -7.4 -5.5 -41.3 0.7 -18.6 -0.1 17.3 10

 11 FA573065043 Loans (mortgages) -0.2 -0.7 -0.5 -0.7 -0.7 -0.8 -0.5 -0.8 -0.7 11

 12 FA573064143 Corporate equities -135.0 -41.0 -42.2 -7.2 -32.1 -82.3 -26.3 -78.4 -85.4 12

 13 FA573064243 Mutual fund shares -47.0 -35.5 -25.4 -37.2 -37.6 -41.7 -23.0 -40.1 -34.8 13

 14 FA573090045 Miscellaneous assets 110.5 44.4 21.7 48.9 48.3 58.9 12.6 42.9 33.9 14

 15 FA573095405 Unallocated insurance contracts (2) -8.7 -2.5 -1.8 -2.6 -2.6 -2.9 -1.6 -2.8 -2.4 15

 16 FA573074043 Contributions receivable -5.4 -17.3 -12.4 -18.1 -18.3 -20.3 -11.2 -19.6 -17.0 16

 17 FA573073005 Claims of pension fund on sponsor (3) 74.4 46.1 22.9 50.6 50.0 60.8 13.7 44.8 35.5 17

 18 FA573093043 Other 50.2 18.1 13.0 19.0 19.2 21.3 11.7 20.5 17.8 18

 19 FA574190043 Net increase in pension entitlements (liabilities) -34.7 -42.9 -40.8 -42.7 -44.2 -43.9 -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 143.6 115.9 97.3 159.3 109.4 97.5 54.2 92.9 95.2 1

 2 FA573020033 Checkable deposits and currency 7.3 8.5 11.1 7.8 7.8 7.1 2.5 5.8 4.7 2

 3 FA573030033 Time and savings deposits 0.3 1.3 1.8 1.2 1.2 1.1 0.4 0.9 0.7 3

 4 FA573034055 Money market fund shares 10.6 40.9 60.1 37.5 37.0 29.1 9.5 24.0 21.5 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 18.6 100.7 132.4 93.1 92.5 84.7 29.5 68.8 55.4 6

 7 FA573069133 Open market paper 0.8 3.1 4.1 2.9 2.9 2.6 0.9 2.1 1.7 7

 8 FA573061133 Treasury securities 17.4 77.1 101.4 71.3 70.8 64.8 22.6 52.7 42.4 8

 9 FA573061733 Agency- and GSE-backed securities 9.9 41.3 54.3 38.2 37.9 34.7 12.1 28.2 22.7 9

 10 FA573063033 Corporate and foreign bonds -9.5 -20.8 -27.4 -19.3 -19.1 -17.5 -6.1 -14.2 -11.4 10

 11 FA573065033 Loans (mortgages) -0.5 -4.7 -6.1 -4.3 -4.3 -3.9 -1.4 -3.2 -2.6 11

 12 FA573064133 Corporate equities -33.8 -99.8 -131.3 -92.3 -91.7 -84.0 -29.3 -68.3 -54.9 12

 13 FA573064255 Mutual fund shares 68.9 -77.9 -158.1 -30.3 -62.3 -60.8 16.5 -39.8 -6.3 13

 14 FA573090055 Miscellaneous assets 72.2 146.9 187.5 146.6 129.2 124.2 26.5 104.6 76.7 14

 15 FA573095505 Unallocated insurance contracts (2) 11.7 1.4 -3.4 12.0 -4.5 1.6 -17.0 4.8 -3.8 15

 16 FA573074033 Contributions receivable 0.8 7.3 9.7 6.8 6.7 6.2 2.2 5.0 4.0 16

 17 FA573093055 Other 59.7 138.1 181.3 127.8 127.0 116.4 41.3 94.8 76.5 17

 18 FA574090055 Net increase in pension entitlements (liabilities) 143.6 115.9 97.3 159.3 109.4 97.5 54.2 92.9 95.2 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, December 9, 2021 35

F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA344090005 Net acquisition of financial assets (1) 75.6 104.1 87.6 151.7 103.6 73.7 98.6 103.2 73.6 1

 2 FA343020033 Checkable deposits and currency -0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 FA344022005 Debt securities 113.5 147.7 183.2 199.5 119.0 89.1 148.6 240.5 -852.0 3

 4 FA343061105 Treasury securities (2) 111.2 145.5 190.6 193.8 113.8 84.0 148.5 241.4 -851.7 4

 5 FA343061705 Agency- and GSE-backed securities 1.3 1.3 -2.8 2.9 2.0 3.2 -0.6 -0.4 -0.3 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 1.0 0.9 -4.6 2.8 3.3 2.0 0.7 -0.5 -0.0 7

 8 FA343064105 Corporate equities -5.0 -24.1 -48.8 18.9 -23.4 -43.1 17.5 12.7 -17.0 8

 9 FA313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 722.2 9

 10 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 220.2 10

 11 FA344090005 Net increase in pension entitlements (liabilities) 75.6 104.1 87.6 151.7 103.6 73.7 98.6 103.2 73.6 11

 Memo:

 Net acquisition of financial assets

 12 FA344090045 Defined benefit plans (5) 77.5 79.2 78.6 78.0 80.5 79.8 81.5 77.3 83.1 12

 13 FA344090055 Defined contibution plans (6) -1.9 24.9 9.0 73.7 23.0 -6.1 17.1 26.0 -9.6 13

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Unfunded defined benefit pension entitlements.

(5) Additional detail on defined benefit plans is available on table F.119.b

(6) Additional detail on defined contribution plans is available on table F.119.c.
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36 Z.1, December 9, 2021

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA344090045 Net acquisition of financial assets (2) 77.5 79.2 78.6 78.0 80.5 79.8 81.5 77.3 83.1 1

 2 FA343020033 Checkable deposits and currency -0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 FA344022045 Debt securities 112.0 100.9 123.4 147.5 74.3 58.4 153.3 231.2 -135.0 3

 4 FA343061165 Treasury securities (3) 111.8 101.5 126.6 147.4 74.5 57.6 151.4 231.1 -135.4 4

 5 FA343061733 Agency- and GSE-backed securities 0.1 -0.2 -0.9 0.3 -0.6 0.2 0.2 0.1 0.0 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 0.1 -0.4 -2.3 -0.2 0.3 0.6 1.7 0.0 0.4 7

 8 FA343064135 Corporate equities -1.6 -2.2 2.0 -2.8 -1.8 -6.3 -4.2 -3.9 -2.1 8

 9 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 220.2 9

 10 FA344190045 Net increase in pension entitlements (liabilities) 77.5 79.2 78.6 78.0 80.5 79.8 81.5 77.3 83.1 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 -1.9 24.9 9.0 73.7 23.0 -6.1 17.1 26.0 -9.6 1

 2 FA344022025 Debt securities 1.5 46.8 59.8 52.0 44.7 30.7 -4.6 9.3 -716.9 2

 3 FA343061155 Treasury securities (2) -0.6 44.0 64.0 46.4 39.2 26.4 -2.9 10.3 -716.3 3

 4 FA343061723 Agency- and GSE-backed securities 1.2 1.5 -2.0 2.6 2.5 3.0 -0.8 -0.5 -0.3 4

 5 FA343063023 Corporate and foreign bonds 0.9 1.3 -2.3 3.0 2.9 1.3 -0.9 -0.5 -0.4 5

 6 FA343064125 Corporate equities -3.4 -21.9 -50.8 21.7 -21.7 -36.8 21.7 16.6 -14.9 6

 7 FA313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 722.2 7

 8 FA344090055 Net increase in pension entitlements (liabilities) -1.9 24.9 9.0 73.7 23.0 -6.1 17.1 26.0 -9.6 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
Transactions

Z.1, December 9, 2021 37

F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA226330005 Gross saving 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 1

 2 FA225013005 Fixed nonresidential investment 0.3 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) 249.5 242.0 209.3 253.9 247.1 257.7 235.5 240.6 239.8 3

 4 FA223020043 Checkable deposits and currency 4.9 4.7 -3.6 -6.1 1.5 26.9 -23.7 9.1 -0.3 4

 5 FA223030043 Time and savings deposits 4.6 -2.2 -1.0 -5.9 -1.4 -0.6 -0.1 1.6 0.0 5

 6 FA223034005 Money market fund shares -0.8 4.0 36.6 -8.1 -1.4 -11.1 7.1 -6.2 -0.0 6

 7 FA222051043 Security repurchase agreements 3.5 1.1 -2.0 -9.8 -5.9 22.2 40.2 36.4 -2.1 7

 8 FA224022045 Debt securities -136.1 52.4 -21.5 -34.3 105.0 160.3 217.2 338.2 -18.3 8

 9 FA223069143 Open market paper -6.4 -1.8 12.5 -19.2 0.4 -1.0 25.0 17.5 -0.9 9

 10 FA223061143 Treasury securities -21.7 -7.1 -143.8 -110.8 93.3 132.7 47.7 318.0 -13.2 10

 11 FA223061743 Agency- and GSE-backed securities 21.3 27.0 22.4 38.7 56.5 -9.8 12.8 36.4 -2.1 11

 12 FA223062043 Municipal securities -1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA223063045 Corporate and foreign bonds -128.4 34.4 87.5 57.0 -45.3 38.3 131.7 -33.7 -2.0 13

 14 FA223065043 Loans (mortgages) -0.9 -0.6 1.8 -3.1 1.3 -2.5 -0.6 2.7 -0.0 14

 15 FA223064145 Corporate equities -28.3 22.5 123.2 -151.7 176.5 -58.1 -145.8 -136.7 8.1 15

 16 FA223064205 Mutual fund shares 0.1 24.0 -32.7 5.8 -14.1 137.2 -183.7 21.4 0.6 16

 17 FA223090005 Miscellaneous assets 402.5 136.0 108.3 466.9 -14.4 -16.6 324.9 -26.0 251.8 17

 18 FA223095505 Unallocated insurance contracts (2) 14.5 7.7 -6.3 8.5 15.7 13.0 2.9 9.9 3.6 18

 19 FA223073045 Claims of pension fund on sponsor (3) 248.4 251.0 202.5 252.3 258.9 290.4 295.4 234.4 233.4 19

 20 FA223093005 Other 139.6 -122.7 -87.9 206.1 -289.0 -319.9 26.6 -270.3 14.8 20

 21 FA224190005 Net increase in pension entitlements (liabilities) 249.4 241.9 209.2 253.7 247.0 257.6 235.4 240.5 239.7 21

 Memo:

 Net acquisition of financial assets

 22 FA224090045 Defined benefit plans (4) 232.0 235.5 234.1 234.6 237.1 236.4 236.4 236.4 236.4 22

 23 FA224090055 Defined contibution plans (5) 17.5 6.4 -24.8 19.3 9.9 21.3 -0.9 4.2 3.4 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.

(3) Unfunded defined benefit pension entitlements.

(4) Additional detail on defined benefit plans is available on table F.120.b.

(5) Additional detail on defined contribution plans is available on table F.120.c.
Transactions

38 Z.1, December 9, 2021

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA224090045 Net acquisition of financial assets (1) 232.0 235.5 234.1 234.6 237.1 236.4 236.4 236.4 236.4 1

 2 FA223020043 Checkable deposits and currency 4.9 4.7 -3.6 -6.1 1.5 26.9 -23.7 9.1 -0.3 2

 3 FA223030043 Time and savings deposits 4.6 -2.2 -1.0 -5.9 -1.4 -0.6 -0.1 1.6 0.0 3

 4 FA223034043 Money market fund shares -0.8 3.9 35.4 -8.1 -1.3 -10.2 7.5 -5.5 0.2 4

 5 FA222051043 Security repurchase agreements 3.5 1.1 -2.0 -9.8 -5.9 22.2 40.2 36.4 -2.1 5

 6 FA224022045 Debt securities -136.1 52.4 -21.5 -34.3 105.0 160.3 217.2 338.2 -18.3 6

 7 FA223069143 Open market paper -6.4 -1.8 12.5 -19.2 0.4 -1.0 25.0 17.5 -0.9 7

 8 FA223061143 Treasury securities -21.7 -7.1 -143.8 -110.8 93.3 132.7 47.7 318.0 -13.2 8

 9 FA223061743 Agency- and GSE-backed securities 21.3 27.0 22.4 38.7 56.5 -9.8 12.8 36.4 -2.1 9

 10 FA223062043 Municipal securities -1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA223063045 Corporate and foreign bonds -128.4 34.4 87.5 57.0 -45.3 38.3 131.7 -33.7 -2.0 11

 12 FA223065043 Loans (mortgages) -0.9 -0.6 1.8 -3.1 1.3 -2.5 -0.6 2.7 -0.0 12

 13 FA223064145 Corporate equities -28.3 22.5 123.2 -151.7 176.5 -58.1 -145.8 -136.7 8.1 13

 14 FA223064243 Mutual fund shares -2.7 25.6 -12.7 -4.7 -8.2 128.1 -180.1 26.7 0.7 14

 15 FA223090045 Miscellaneous assets 387.8 128.1 114.3 458.2 -30.3 -29.7 321.8 -36.1 248.0 15

 16 FA223073045 Claims of pension fund on sponsor (2) 248.4 251.0 202.5 252.3 258.9 290.4 295.4 234.4 233.4 16

 17 FA223093043 Other 139.4 -122.9 -88.2 205.8 -289.2 -320.1 26.3 -270.5 14.5 17

 18 FA224190043 Net increase in pension entitlements (liabilities) 231.9 235.4 234.0 234.5 237.0 236.3 236.3 236.3 236.3 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 17.5 6.4 -24.8 19.3 9.9 21.3 -0.9 4.2 3.4 1

 2 FA223034055 Money market fund shares 0.0 0.1 1.3 0.0 -0.0 -0.9 -0.4 -0.7 -0.2 2

 3 FA223064255 Mutual fund shares 2.8 -1.6 -20.0 10.5 -5.9 9.0 -3.6 -5.2 -0.2 3

 4 FA223090055 Miscellaneous assets 14.7 7.9 -6.1 8.7 15.9 13.2 3.1 10.1 3.8 4

 5 FA223095505 Unallocated insurance contracts (misc. assets) (2) 14.5 7.7 -6.3 8.5 15.7 13.0 2.9 9.9 3.6 5

 6 FA223093053 Other 0.2 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) 17.5 6.4 -24.8 19.3 9.9 21.3 -0.9 4.2 3.4 7

(1) Includes 403(b) and 457 type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
Transactions

Z.1, December 9, 2021 39

F.121 Money Market Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA634090005 Net acquisition of financial assets 596.0 701.3 3093.7 1300.9 -1054.3 -535.2 927.6 254.2 -124.1 1

 2 FA633091003 Foreign deposits 5.8 -6.7 -14.5 -6.6 -4.9 -0.7 5.8 -7.6 2.4 2

 3 FA633020000 Checkable deposits and currency 44.9 -9.0 -104.8 -137.2 -169.7 375.8 -184.3 -137.5 347.9 3

 4 FA633030000 Time and savings deposits 68.2 -118.3 -128.1 -115.4 -121.0 -108.6 142.7 -167.0 29.2 4

 5 FA632051000 Security repurchase agreements 155.7 -168.8 1537.2 -2551.4 363.9 -25.1 557.9 1791.8 1890.8 5

 6 FA634022005 Debt securities 319.0 1004.0 1797.0 4315.6 -1310.8 -785.6 477.2 -1072.0 -2605.8 6

 7 FA633069175 Open market paper 43.5 -63.8 -52.2 -42.8 -180.1 20.1 45.0 -164.4 -0.4 7

 8 FA633061105 Treasury securities 163.0 1219.8 1041.5 4767.2 -562.5 -366.9 565.2 -580.9 -2350.8 8

 9 FA633061700 Agency- and GSE-backed securities 110.2 -124.7 820.7 -421.0 -538.3 -360.3 -120.5 -294.4 -233.9 9

 10 FA633062000 Municipal securities -8.9 -21.4 6.0 16.4 -44.1 -63.8 -12.1 -30.5 -8.9 10

 11 FA633063005 Corporate and foreign bonds 11.0 -5.9 -19.0 -4.2 14.4 -14.8 -0.3 -1.9 -11.7 11

 12 FA633093005 Miscellaneous assets 2.4 -0.0 6.9 -204.1 188.0 9.1 -71.6 -153.6 211.3 12

 13 FA634090005 Net share issues (liabilities) 596.0 701.3 3093.7 1300.9 -1054.3 -535.2 927.6 254.2 -124.1 13

 Memo:

 14 FA634090503 Variable annuity money market funds included above -3.0 5.6 45.2 -7.9 -4.3 -10.8 -6.7 -10.2 -3.0 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 131.9 59.2 24.5 75.9 77.5 59.0 60.0 70.0 70.0 1

 2 FA654090000 Net acquisition of financial assets 208.0 -226.8 -1223.7 61.4 106.2 149.0 364.0 169.4 294.7 2

 3 FA652051003 Security repurchase agreements 21.2 5.4 17.9 -12.8 -29.8 46.2 25.4 16.6 35.8 3

 4 FA654022005 Debt securities 356.5 339.7 -1048.2 436.5 1228.2 742.3 1191.8 400.2 174.7 4

 5 FA653069100 Open market paper 21.2 5.4 8.6 -9.0 -19.7 41.5 18.1 17.8 49.2 5

 6 FA653061105 Treasury securities 120.0 -46.5 -1062.7 406.0 222.9 247.9 298.7 361.3 -7.3 6

 7 FA653061703 Agency- and GSE-backed securities 31.0 55.8 70.4 -481.6 476.9 157.5 72.9 -175.2 -3.4 7

 8 FA653062003 Municipal securities 105.8 49.7 -88.0 52.8 147.8 86.2 123.8 133.3 111.9 8

 9 FA653063005 Corporate and foreign bonds 78.5 275.3 23.5 468.3 400.2 209.1 678.4 63.1 24.4 9

 10 FA653069803 Loans (other loans and advances) -33.7 -29.0 -120.0 -0.2 -2.8 7.0 61.3 65.8 41.3 10

 11 FA653064100 Corporate equities -219.4 -481.6 -361.3 -330.1 -666.5 -568.3 -589.5 -204.2 -103.4 11

 12 FA653093005 Miscellaneous assets 83.4 -61.3 287.8 -32.0 -422.7 -78.1 -325.1 -109.0 146.3 12

 13 FA653164205 Net share issues (liabilities) 208.0 -226.8 -1223.7 61.4 106.2 149.0 364.0 169.4 294.7 13

 14 FA657005005 Discrepancy 131.9 59.2 24.5 75.9 77.5 59.0 60.0 70.0 70.0 14

 Memo:

 15 FA654090500 Variable annuity mutual funds included above -104.2 -116.2 -173.7 -75.0 -115.8 -100.2 -126.4 -228.2 -134.7 15

 Net acquisition of financial assets by investment objective:

 16 FA654091600 Domestic equity funds -205.4 -381.7 -473.2 -266.4 -483.0 -304.1 -318.9 -439.8 -248.8 16

 17 FA654092603 World equity funds -6.0 -142.3 44.5 -186.6 -218.4 -208.5 -161.6 43.7 75.1 17

 18 FA654091403 Hybrid funds -15.2 -53.9 -187.5 17.5 -24.4 -21.1 8.8 26.8 40.7 18

 19 FA654091303 Taxable bond funds 325.0 295.6 -566.6 448.2 690.9 609.7 668.1 446.4 301.1 19

 20 FA654091203 Municipal bond funds 109.7 55.5 -68.4 68.7 120.5 101.0 120.3 109.5 115.5 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, December 9, 2021

F.123 Closed-End Funds 

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA554090005 Net acquisition of financial assets 5.9 2.7 11.3 -0.7 -0.2 0.5 27.0 15.6 3.2 1

 2 FA554022005 Debt securities 3.2 0.8 3.6 -0.7 -0.2 0.7 10.3 8.0 1.9 2

 3 FA553061103 Treasury securities -0.5 -0.4 -3.0 0.8 0.5 0.3 0.6 0.3 0.1 3

 4 FA553062003 Municipal securities 1.7 -0.3 0.5 -0.2 -0.0 -1.5 1.5 1.1 0.2 4

 5 FA553063003 Corporate and foreign bonds 2.0 1.5 6.1 -1.3 -0.6 1.9 8.2 6.6 1.6 5

 6 FA553064103 Corporate equities 2.6 1.9 7.7 0.0 0.0 -0.2 16.7 7.5 1.3 6

 7 FA554090005 Net share issues (liabilities) 5.9 2.7 11.3 -0.7 -0.2 0.5 27.0 15.6 3.2 7

 Memo:

 Net acquisition of financial assets by investment objective:

 8 FA554091603 Domestic equity funds 0.8 2.0 7.7 0.0 0.0 0.1 16.9 6.8 -0.4 8

 9 FA554092603 World equity funds 1.8 -0.1 -0.0 0.0 -0.0 -0.3 -0.2 0.7 1.7 9

 10 FA554091303 Domestic taxable bond funds 1.3 0.6 -0.2 -0.5 -0.2 3.1 0.2 6.9 1.7 10

 11 FA554091203 Municipal bond funds 1.7 -0.3 0.5 -0.2 -0.0 -1.5 1.5 1.1 0.2 11

 12 FA554092303 World bond funds 0.3 0.6 3.3 0.0 0.0 -0.9 8.6 0.0 0.0 12

F.124 Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA564090005 Net acquisition of financial assets 322.6 500.9 371.4 616.7 454.2 561.3 1075.9 1076.4 719.4 1

 2 FA564022005 Debt securities 148.3 202.9 43.2 340.9 225.4 201.9 172.6 251.3 197.8 2

 3 FA563061103 Treasury securities 44.1 33.7 81.8 29.9 15.6 7.4 43.3 63.2 56.5 3

 4 FA563062003 Municipal securities 10.5 14.2 3.8 15.9 15.0 22.0 21.0 24.3 20.0 4

 5 FA563063003 Corporate and foreign bonds 93.7 155.0 -42.4 295.1 194.8 172.5 108.3 163.9 121.3 5

 6 FA563064100 Corporate equities 165.9 254.3 282.0 180.8 172.9 381.5 922.8 804.7 539.3 6

 7 FA563093003 Miscellaneous assets (1) 8.4 43.7 46.2 94.9 55.9 -22.2 -19.6 20.4 -17.7 7

 8 FA564090005 Net share issues (liabilities) 322.6 500.9 371.4 616.7 454.2 561.3 1075.9 1076.4 719.4 8

 Memo:

 Net acquisition of financial assets by investment objective:

 9 FA564091600 Domestic equity funds 132.7 189.1 304.3 186.7 9.8 255.7 637.1 521.0 297.4 9

 10 FA564092603 World equity funds 29.8 62.5 -1.0 -58.3 89.9 219.6 311.8 210.1 164.4 10

 11 FA563093003 Commodity funds (1) 8.4 43.7 46.2 94.9 55.9 -22.2 -19.6 20.4 -17.7 11

 12 FA564091403 Hybrid funds 5.5 4.2 2.4 1.6 4.6 8.0 -0.7 9.1 10.5 12

 13 FA564091303 Taxable bond funds 135.8 187.2 38.5 324.4 208.7 177.1 151.9 224.1 174.5 13

 14 FA564091203 Municipal bond funds 10.4 14.2 3.8 15.9 15.0 22.0 21.0 24.2 19.9 14

(1) Investments primarily in commodities, currencies, and futures.
Transactions

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F.125 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA406000105 Gross saving 5.6 5.6 6.4 4.9 5.4 5.6 5.6 5.6 5.6 1

 2 FA405013005 Fixed nonresidential investment 0.8 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 2

 3 FA404090005 Net acquisition of financial assets 199.7 594.9 1404.7 -232.2 418.5 788.6 860.3 489.2 495.0 3

 4 FA403020005 Checkable deposits and currency -2.2 57.8 429.4 -283.7 -53.7 139.3 245.7 -341.1 71.1 4

 5 FA403030005 Time and savings deposits -4.4 -7.0 0.7 -11.0 -19.0 1.3 -6.4 -3.7 0.3 5

 6 FA402050005 Federal funds and security repos 24.6 17.3 -165.0 284.4 -72.4 22.3 -262.8 439.9 -166.4 6

 7 FA404022005 Debt securities 52.8 46.7 -8.1 251.2 57.9 -114.3 -113.0 -102.6 -33.8 7

 8 FA403069105 Open market paper 0.3 0.2 4.2 -2.8 -5.2 4.4 -1.3 -6.3 -2.7 8

 9 FA403061105 Treasury securities 52.0 78.9 8.9 255.1 103.9 -52.2 -74.8 -67.1 -17.7 9

 10 FA403061705 Agency- and GSE-backed securities 3.8 -29.3 -16.6 -0.5 -37.7 -62.5 -34.8 -27.1 -12.3 10

 11 FA403062005 Municipal securities -0.6 -0.5 -0.2 -0.7 -0.2 -1.0 -0.2 -0.3 -0.6 11

 12 FA403063005 Corporate and foreign bonds -2.7 -2.6 -4.5 0.1 -2.9 -3.0 -2.0 -1.8 -0.5 12

 13 FA404023005 Loans 96.7 417.7 1056.3 -552.6 439.9 727.2 958.5 595.3 628.2 13

 14 FA403069305 Other loans and advances -83.2 -215.1 784.9 -1140.8 -267.6 -237.1 64.0 -266.9 -43.0 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 7.4 13.5 5.3 13.0 15.0 20.6 2.1 -1.7 8.9 16

 17 FA403069330 FHLB loans -90.6 -228.6 779.6 -1153.8 -282.6 -257.7 61.9 -265.1 -52.0 17

 18 FA403065005 Mortgages 180.0 632.9 271.4 588.2 707.5 964.3 894.5 862.1 671.3 18

 19 FA403065105 One-to-four-family residential 135.2 560.3 236.3 489.0 671.4 844.3 862.8 867.7 630.4 19

 20 FA403065195 Consolidated trusts (2) 154.2 532.9 225.2 451.3 638.2 816.7 870.0 1150.3 676.8 20

 21 FA403065185 Other -19.0 27.4 11.1 37.7 33.2 27.7 -7.3 -282.6 -46.4 21

 22 FA403065405 Multifamily residential 31.2 55.4 18.3 81.3 19.2 102.9 29.4 -9.5 37.7 22

 23 FA403065495 Consolidated trusts (2) 37.3 51.9 32.1 54.8 41.6 79.1 65.9 18.2 31.8 23

 24 FA403065485 Other -6.2 3.5 -13.8 26.5 -22.4 23.8 -36.5 -27.7 5.9 24

 25 FA403065605 Farm 13.6 17.2 16.8 17.9 16.9 17.1 2.4 3.9 3.2 25

 26 FA403066005 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA403093005 Miscellaneous assets 32.1 62.3 91.3 79.5 65.8 12.8 38.3 -98.5 -4.4 27

 28 FA404194005 Net increase in liabilities and equity 203.1 634.9 1437.2 -288.1 547.0 843.3 620.6 432.2 583.0 28

 29 FA404190005 Net increase in liabilities 207.3 641.9 1409.7 -249.9 557.3 850.4 624.2 433.9 588.1 29

 30 FA402150005 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.4 0.0 30

 31 FA403161705 Debt securities (GSE issues) (3) 204.9 635.9 1388.3 -177.4 505.6 827.2 665.9 483.5 514.8 31

 32 FA403161795 Consolidated trusts (2) 191.5 584.8 257.4 506.1 679.8 895.8 935.9 1168.5 708.6 32

 33 FA403161785 Other 13.3 51.1 1131.0 -683.5 -174.2 -68.6 -269.9 -685.0 -193.8 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 2.4 5.9 21.4 -72.5 51.7 23.2 -42.2 -49.2 73.3 35

 36 FA403164105 Net equity issues (corporate equities) -4.2 -7.0 27.6 -38.2 -10.2 -7.2 -3.5 -1.7 -5.1 36

 37 FA407005005 Discrepancy 8.2 45.2 38.6 -51.4 133.6 59.9 -234.5 -51.9 93.2 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 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 51.5 1

 2 FA413065105 One-to-four-family residential mortgages 76.0 -15.8 106.0 -54.8 -42.1 -72.4 -28.7 67.3 32.6 2

 3 FA413065405 Multifamily residential mortgages 38.1 38.3 11.5 10.5 73.0 58.0 62.8 50.1 18.8 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 -0.4 -0.2 -0.2 -0.1 -0.3 -0.2 -0.4 0.1 0.1 5

 6 FA413065005 Net increase in pool securities (liabilities)(2) 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 51.5 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, December 9, 2021

F.127 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA676330023 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA675013025 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA674090005 Net acquisition of financial assets 69.9 51.6 240.6 -47.9 6.2 7.4 42.3 96.4 180.9 3

 4 FA674022005 Debt securities 12.6 -2.7 -4.0 -5.8 -4.1 3.1 -7.0 -4.6 5.2 4

 5 FA673061103 Treasury securities 12.6 -2.7 -4.0 -5.8 -4.1 3.1 -7.0 -4.6 5.2 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 50.4 32.8 211.7 -53.9 -4.1 -22.6 10.2 33.0 144.0 7

 8 FA673069005 Other loans and advances 38.0 46.0 99.2 8.6 26.9 49.2 9.0 36.2 100.8 8

 9 FA673065005 Mortgages (2) 14.8 -11.9 114.6 -60.7 -27.8 -73.9 2.6 -2.8 46.2 9

 10 FA673065105 One-to-four-family residential -5.1 -31.0 43.9 -42.9 -42.9 -82.0 -57.2 -21.6 10.7 10

 11 FA673065405 Multifamily residential 2.5 5.0 26.7 0.8 -4.1 -3.5 5.8 2.0 8.6 11

 12 FA673065505 Commercial 17.4 14.0 44.1 -18.7 19.3 11.5 54.0 16.8 27.0 12

 13 FA673066000 Consumer credit -2.4 -1.2 -2.2 -1.8 -3.2 2.2 -1.3 -0.4 -3.0 13

 14 FA673070003 Trade credit 0.6 0.6 9.5 -5.9 -11.3 10.0 -3.8 8.4 -4.3 14

 15 FA673090543 Miscellaneous assets (funding agreements) (3) 6.2 20.9 23.4 17.7 25.7 16.8 42.8 59.6 35.9 15

 16 FA674122005 Net increase in liabilities 69.9 51.6 240.6 -47.9 6.2 7.4 42.3 96.4 180.9 16

 17 FA673169105 Commercial paper -5.0 14.7 9.9 -0.8 26.5 23.1 -24.6 -35.7 36.0 17

 18 FA673163005 Corporate bonds (net) (4) 74.8 36.9 230.7 -47.2 -20.3 -15.7 66.9 132.1 144.9 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) 29.2 -10.8 -80.2 23.7 14.2 -0.8 -12.9 42.3 8.5 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, December 9, 2021 43

F.128 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA616000105 Gross saving less net capital transfers paid (2) 118.0 117.1 111.2 112.4 119.2 125.6 121.5 127.1 126.8 1

 2 FA615013005 Fixed nonresidential investment 82.0 58.4 59.3 53.7 58.9 61.8 64.2 65.7 66.2 2

 3 FA614090005 Net acquisition of financial assets -5.5 38.4 201.8 -15.3 -31.0 -1.8 68.4 92.0 17.0 3

 4 FA613020003 Checkable deposits and currency -2.0 4.2 16.9 17.1 -14.9 -2.4 -2.7 1.3 3.2 4

 5 FA613030003 Time and savings deposits -6.0 12.5 50.8 51.2 -44.8 -7.2 -8.1 4.0 9.7 5

 6 FA613063003 Debt securities (corporate and foreign bonds) -0.5 9.7 7.4 16.4 5.9 9.2 1.3 24.7 28.5 6

 7 FA614023005 Loans -4.5 -9.9 16.0 -100.2 35.8 8.7 45.9 62.9 -28.6 7

 8 FA613069505 Other loans and advances -10.4 -16.4 51.5 -112.2 5.3 -10.4 8.6 27.6 -46.8 8

 9 FA613065000 Mortgages 2.5 -7.2 -16.2 -10.9 -14.6 13.1 -14.5 -3.6 -3.8 9

 10 FA613066005 Consumer credit 3.4 13.7 -19.2 22.8 45.1 6.0 51.9 38.8 22.0 10

 11 FA613092003 U.S. direct investment abroad 10.5 10.3 50.0 -20.2 11.0 0.3 66.9 10.5 63.4 11

 12 FA613090005 Miscellaneous assets -2.9 11.6 60.6 20.5 -24.1 -10.5 -35.0 -11.4 -59.3 12

 13 FA614194005 Net increase in liabilities and equity -18.2 29.2 204.5 7.7 -85.1 -10.5 -15.4 113.2 -80.2 13

 14 FA614190005 Net increase in liabilities -33.0 20.9 197.6 2.6 -96.0 -20.5 -25.5 106.7 -86.9 14

 15 FA614122005 Debt securities -43.8 -20.2 100.8 -46.9 -119.3 -15.3 -77.5 11.9 -133.1 15

 16 FA613169100 Open market paper -1.1 -21.7 -2.4 -49.2 -22.4 -12.9 2.0 -6.6 4.5 16

 17 FA613163005 Corporate bonds -42.7 1.5 103.1 2.3 -96.9 -2.4 -79.6 18.5 -137.6 17

 18 FA614123005 Loans 5.9 24.8 27.7 25.9 32.6 12.9 -11.9 163.0 -28.2 18

 19 FA613168005 Depository institution loans n.e.c. 5.6 25.3 27.9 27.3 32.1 13.8 -10.3 162.9 -28.3 19

 20 FA613169005 Other loans and advances 0.4 -0.5 -0.2 -1.4 0.5 -0.9 -1.6 0.0 0.0 20

 21 FA613178005 Taxes payable -0.4 -0.5 0.3 0.6 -2.9 0.0 1.7 -4.4 4.1 21

 22 FA613192305 Foreign direct investment: intercompany debt 0.3 -0.1 -0.6 -0.2 0.4 -0.0 1.0 -0.8 0.2 22

 23 FA613190005 Miscellaneous liabilities 4.9 17.0 69.4 23.3 -6.8 -18.1 61.3 -63.1 70.2 23

 24 FA613194003 Investment by parent -5.5 -5.0 -8.4 -15.0 -15.2 18.6 -2.7 -42.1 -11.2 24

 25 FA613193005 Other 10.4 21.9 77.8 38.3 8.4 -36.7 64.0 -20.9 81.5 25

 26 FA613192103 Net equity issues (foreign direct investment) 14.8 8.2 6.9 5.1 10.9 10.0 10.2 6.6 6.7 26

 27 FA617005005 Discrepancy 23.3 49.4 54.7 81.7 6.3 55.0 -26.6 82.6 -36.6 27

 Memo:

 28 FA613066303 Consumer leases not included above (3) -2.4 -9.4 -10.0 -21.3 -6.2 -0.2 3.1 4.7 -13.2 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, December 9, 2021

F.129 Real Estate Investment Trusts (REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA646000105 Gross saving -59.5 -50.2 -11.0 -62.2 -76.0 -51.6 -49.1 -53.8 -53.0 1

 2 FA125013005 Fixed nonresidential investment 12.2 12.2 13.5 11.8 11.8 11.8 12.1 12.3 12.5 2

 3 FA125012063 Multifamily residential investment 7.1 2.8 5.9 -0.7 2.8 3.3 1.9 11.2 6.6 3

 4 FA644090005 Net acquisition of financial assets 77.4 -140.8 -472.6 -86.4 -27.4 23.0 34.6 53.1 13.3 4

 5 FA643020005 Checkable deposits and currency 8.9 17.1 160.2 -22.2 -45.8 -23.7 -3.5 6.5 6.2 5

 6 FA644022005 Debt securities 46.9 -154.5 -596.4 -19.3 -15.7 13.6 -27.2 -38.3 -73.9 6

 7 FA643061773 Agency- and GSE-backed securities 50.3 -129.3 -541.5 9.3 -0.5 15.3 -25.4 -46.0 -83.3 7

 8 FA643063005 Corporate and foreign bonds -3.4 -25.1 -55.0 -28.7 -15.2 -1.7 -1.8 7.7 9.4 8

 9 FA643065005 Loans (mortgages) 18.9 -14.6 -92.3 -11.5 48.6 -3.4 26.2 63.9 82.2 9

 10 FA643065105 One-to-four-family residential 3.3 -24.3 -88.7 -20.3 16.0 -4.3 11.2 23.6 47.7 10

 11 FA643065405 Multifamily residential 7.4 -4.1 -23.5 -0.8 3.9 4.1 4.2 6.7 5.0 11

 12 FA643065505 Commercial 8.3 13.8 20.0 9.6 28.7 -3.2 10.7 33.6 29.5 12

 13 FA643090005 Miscellaneous assets 2.6 11.1 55.9 -33.4 -14.5 36.5 39.2 20.9 -1.1 13

 14 FA644194005 Net increase in liabilities and equity 162.3 -88.5 -352.3 -72.6 -6.7 77.9 40.7 103.8 26.8 14

 15 FA644190005 Net increase in liabilities 125.7 -110.3 -376.9 -99.3 -25.3 60.2 9.4 60.7 -17.0 15

 16 FA642151073 Security repurchase agreements 71.8 -157.6 -478.3 -120.0 -38.1 5.8 -13.4 -30.3 -21.7 16

 17 FA644122005 Debt securities 69.3 41.4 -37.8 142.0 33.7 27.8 26.2 99.7 22.5 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 69.3 41.4 -37.8 142.0 33.7 27.8 26.2 99.7 22.5 19

 20 FA644123005 Loans -8.2 -6.4 144.0 -130.9 -47.2 8.4 -21.1 -12.2 -7.5 20

 21 FA643168005 Depository institution loans n.e.c. -9.2 -0.5 156.5 -114.0 -49.7 5.4 1.8 -5.5 -14.2 21

 22 FA643169373 Other loans and advances -0.9 -8.2 -15.6 -11.7 -5.5 -0.2 0.0 -0.0 -0.1 22

 23 FA123165005 Mortgages 1.9 2.3 3.1 -5.2 8.1 3.2 -23.0 -6.7 6.8 23

 24 FA643193005 Miscellaneous liabilities -7.2 12.3 -4.9 9.6 26.2 18.2 17.8 3.6 -10.4 24

 25 FA643164103 Net equity issues (corporate equity) 36.7 21.9 24.6 26.7 18.6 17.7 31.3 43.1 43.8 25

 26 FA647005005 Discrepancy 6.2 -12.9 89.7 -59.6 -69.8 -11.9 -57.0 -26.6 -58.7 26

 Memo:

 27 FA643065045 Securitized assets included above 29.2 -10.8 -80.2 23.7 14.2 -0.8 -12.9 42.3 8.5 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 9.6 -16.8 -71.3 0.8 3.2 0.1 -7.8 8.0 5.2 29

 30 FA643065443 Multifamily residential mortgages 5.0 -4.3 -21.5 0.9 3.5 -0.1 0.4 5.1 2.4 30

 31 FA643065543 Commercial mortgages 14.7 10.3 12.7 22.0 7.6 -0.9 -5.4 29.2 1.0 31

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.129.e and F.129.m.
Transactions

Z.1, December 9, 2021 45

F.129.e Equity Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA124090005 Net acquisition of financial assets 8.3 32.3 159.4 -4.6 -30.9 5.4 27.5 60.4 32.8 1

 2 FA123020003 Checkable deposits and currency 6.5 11.7 127.5 -10.0 -48.8 -21.9 -0.0 5.7 9.7 2

 3 FA123063003 Debt securities (corporate and foreign bonds) 0.0 1.3 0.8 1.9 0.6 1.8 8.9 8.0 11.8 3

 4 FA123065005 Loans (mortgages) 3.7 6.0 3.1 0.8 18.9 1.3 9.7 -2.3 -1.1 4

 5 FA123065103 One-to-four-family residential -0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 5

 6 FA123065403 Multifamily residential 0.5 0.6 -0.8 0.1 0.2 2.7 2.2 -0.1 -0.4 6

 7 FA123065503 Commercial 3.3 5.4 3.8 0.7 18.7 -1.3 7.5 -2.3 -0.7 7

 8 FA123093005 Miscellaneous assets -1.9 13.3 28.0 2.7 -1.6 24.2 8.9 49.0 12.3 8

 9 FA124190005 Net increase in liabilities 35.8 52.1 185.2 -3.5 -20.4 46.9 6.3 71.2 9.9 9

 10 FA123163003 Debt securities (corporate bonds) 36.0 43.5 22.8 109.4 12.1 29.6 30.8 47.9 9.3 10

 11 FA124123005 Loans -4.0 1.2 154.0 -116.8 -40.0 7.6 -20.1 -11.4 -7.9 11

 12 FA123168003 Depository institution loans n.e.c. -5.8 -1.1 151.0 -111.6 -48.1 4.4 2.9 -4.7 -14.7 12

 13 FA123165005 Mortgages 1.9 2.3 3.1 -5.2 8.1 3.2 -23.0 -6.7 6.8 13

 14 FA123165403 Multifamily residential -1.1 1.0 2.5 1.4 -3.3 3.3 0.5 -1.4 0.8 14

 15 FA123165503 Commercial 3.0 1.3 0.5 -6.6 11.4 -0.1 -23.5 -5.3 6.1 15

 16 FA123193005 Miscellaneous liabilities 3.7 7.4 8.4 4.0 7.6 9.8 -4.3 34.8 8.5 16

F.129.m Mortgage Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA644090075 Net acquisition of financial assets 69.0 -173.2 -631.9 -81.8 3.5 17.6 7.1 -7.2 -19.4 1

 2 FA643020073 Checkable deposits and currency 2.4 5.4 32.7 -12.2 3.0 -1.9 -3.5 0.8 -3.5 2

 3 FA644022075 Debt securities 46.9 -155.7 -597.2 -21.2 -16.3 11.8 -36.1 -46.3 -85.8 3

 4 FA643061773 Agency- and GSE-backed securities 50.3 -129.3 -541.5 9.3 -0.5 15.3 -25.4 -46.0 -83.3 4

 5 FA643063073 Corporate and foreign bonds -3.4 -26.4 -55.8 -30.6 -15.8 -3.5 -10.7 -0.3 -2.5 5

 6 FA643065075 Loans (mortgages) 15.2 -20.7 -95.4 -12.3 29.7 -4.7 16.5 66.3 83.3 6

 7 FA643065173 One-to-four-family residential 3.4 -24.4 -88.8 -20.3 15.9 -4.3 11.2 23.6 47.7 7

 8 FA643065473 Multifamily residential 6.9 -4.6 -22.7 -0.9 3.7 1.5 2.0 6.8 5.3 8

 9 FA643065573 Commercial 4.9 8.3 16.2 8.9 10.0 -1.8 3.2 35.9 30.2 9

 10 FA643090075 Miscellaneous assets 4.5 -2.2 27.9 -36.1 -12.9 12.3 30.3 -28.0 -13.4 10

 11 FA644190075 Net increase in liabilities 89.9 -162.4 -562.1 -95.9 -5.0 13.3 3.1 -10.5 -26.9 11

 12 FA642151073 Security repurchase agreements 71.8 -157.6 -478.3 -120.0 -38.1 5.8 -13.4 -30.3 -21.7 12

 13 FA644122075 Debt securities 33.3 -2.0 -60.6 32.6 21.6 -1.7 -4.6 51.8 13.3 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 33.3 -2.0 -60.6 32.6 21.6 -1.7 -4.6 51.8 13.3 15

 16 FA644123075 Loans -4.3 -7.6 -10.0 -14.1 -7.1 0.8 -1.0 -0.8 0.4 16

 17 FA643168073 Depository institution loans n.e.c. -3.4 0.6 5.5 -2.4 -1.6 1.0 -1.0 -0.8 0.5 17

 18 FA643169373 Other loans and advances -0.9 -8.2 -15.6 -11.7 -5.5 -0.2 0.0 -0.0 -0.1 18

 19 FA643193075 Miscellaneous liabilities -10.9 4.9 -13.3 5.7 18.6 8.4 22.1 -31.2 -18.9 19

 Memo:

 20 FA643065045 Securitized assets included above 29.2 -10.8 -80.2 23.7 14.2 -0.8 -12.9 42.3 8.5 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 9.6 -16.8 -71.3 0.8 3.2 0.1 -7.8 8.0 5.2 22

 23 FA643065443 Multifamily residential mortgages 5.0 -4.3 -21.5 0.9 3.5 -0.1 0.4 5.1 2.4 23

 24 FA643065543 Commercial mortgages 14.7 10.3 12.7 22.0 7.6 -0.9 -5.4 29.2 1.0 24
Transactions

46 Z.1, December 9, 2021

F.130 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA666000105 Gross saving less net capital transfers paid (1) -14.0 -17.9 -6.9 -25.4 -27.7 -11.8 -15.2 -10.4 -11.2 1

 2 FA665013005 Fixed nonresidential investment 40.0 40.9 42.2 39.5 40.5 41.4 42.9 44.1 44.8 2

 3 FA664090005 Net acquisition of financial assets 147.9 256.8 1267.3 -877.5 94.0 543.6 228.3 209.7 410.4 3

 4 FA663020003 Checkable deposits and currency -1.0 13.2 147.0 -92.1 -20.1 18.0 -6.3 -17.0 18.2 4

 5 FA662051003 Security repurchase agreements 84.9 -78.0 331.7 -803.2 -12.6 172.3 -336.3 -418.4 311.3 5

 6 FA664022005 Debt securities -51.7 -73.9 202.3 -49.0 -187.2 -261.8 -677.6 93.9 29.3 6

 7 FA663069103 Open market paper -2.9 -0.3 48.7 -30.8 -7.9 -11.3 4.0 9.9 9.3 7

 8 FA663061105 Treasury securities -47.2 -8.5 51.9 138.8 -146.1 -78.8 -375.7 54.2 -6.2 8

 9 FA663061705 Agency- and GSE-backed securities 18.0 -61.1 103.5 -134.3 -98.3 -115.4 -284.7 30.2 20.8 9

 10 FA663062003 Municipal securities -5.2 -9.9 -10.0 -21.1 6.7 -15.2 8.6 7.1 6.0 10

 11 FA663063005 Corporate and foreign bonds -14.5 6.0 8.3 -1.6 58.4 -41.2 -29.7 -7.4 -0.6 11

 12 FA663069005 Loans (other loans and advances) 32.5 165.2 86.2 -84.4 267.2 391.9 361.8 92.5 -92.3 12

 13 FA663064103 Corporate equities -22.4 6.8 53.3 18.2 37.7 -82.1 154.6 -111.7 -104.0 13

 14 FA663092003 U.S. direct investment abroad 18.8 10.7 21.7 11.1 2.6 7.1 -17.1 18.4 -2.6 14

 15 FA663090005 Miscellaneous assets 86.9 212.9 425.1 121.8 6.4 298.3 749.4 552.1 250.6 15

 16 FA663070663 Receivables due from other brokers and dealers 43.8 55.0 -257.4 343.8 -23.5 157.2 528.9 352.8 351.6 16

 17 FA663070653 Receivables due from clearing organizations -18.6 60.5 457.9 -229.2 -1.6 14.9 150.0 54.2 81.1 17

 18 FA663093005 Other 61.6 97.4 224.6 7.2 31.5 126.2 70.4 145.2 -182.1 18

 19 FA664194005 Net increase in liabilities and equity 207.0 274.5 1139.2 -808.3 130.4 636.9 206.9 255.9 404.4 19

 20 FA664190005 Net increase in liabilities 130.4 228.5 1217.0 -900.2 99.6 497.5 180.8 180.0 386.9 20

 21 FA662151003 Security repurchase agreements 51.6 24.2 263.7 -542.1 131.2 244.1 -802.4 -92.4 16.7 21

 22 FA663163003 Debt securities (corporate bonds) -10.1 10.0 332.0 -308.7 -57.2 73.8 49.8 32.7 40.5 22

 23 FA664123005 Loans 23.3 131.0 832.0 -321.2 -152.3 165.7 108.4 132.6 253.3 23

 24 FA663168005 Depository institution loans n.e.c. -2.3 10.2 250.3 -240.7 -22.9 54.0 28.6 67.2 54.7 24

 25 FA153067005 Other loans and advances 25.6 120.9 581.7 -80.6 -129.4 111.7 79.8 65.3 198.6 25

 26 FA663170003 Trade payables -1.0 2.8 17.4 -9.3 -4.3 7.3 4.6 -15.1 6.6 26

 27 FA663178005 Taxes payable -1.4 2.2 5.3 8.5 -4.6 -0.5 3.2 -0.7 4.4 27

 28 FA663192305 Foreign direct investment: intercompany debt 3.4 1.3 -8.3 6.9 1.3 5.2 0.5 1.2 30.2 28

 29 FA663190005 Miscellaneous liabilities 64.6 57.1 -225.1 265.7 185.6 2.1 816.8 121.8 35.2 29

 30 FA663170663 Payables due to other brokers and dealers 15.4 56.4 -21.2 113.6 101.4 31.6 592.2 63.7 179.4 30

 31 FA663170653 Payables due to clearing organizations 5.2 -7.2 -5.6 -10.8 -2.8 -9.5 52.0 -19.9 0.7 31

 32 FA663194005 Investment by parent companies 21.5 81.4 264.2 -189.6 23.3 227.6 7.7 230.2 -97.8 32

 33 FA663193005 Other 22.5 -73.5 -462.5 352.5 63.6 -247.7 164.9 -152.2 -47.1 33

 34 FA663181125 Net equity issues 76.7 46.1 -77.9 91.9 30.7 139.4 26.1 75.9 17.5 34

 35 FA663164103 Corporate equities 22.1 15.6 31.5 -21.7 0.7 51.9 4.0 1.8 -3.2 35

 36 FA662090003 Proprietors’ net investment 5.2 6.9 5.3 14.6 -5.5 13.0 13.8 16.8 6.6 36

 37 FA663192103 Foreign direct investment: equity 49.3 23.6 -114.7 99.1 35.4 74.6 8.3 57.3 14.1 37

 38 FA667005005 Discrepancy 5.2 -41.1 -177.3 4.3 -31.7 40.1 -79.5 -8.3 -62.0 38

(1) Net capital transfers paid from table F.5, line 58.
Transactions

Z.1, December 9, 2021 47

F.131 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA736000105 Gross saving 172.6 121.4 174.5 80.9 70.3 159.7 161.0 144.0 173.1 1

 2 FA735013005 Fixed nonresidential investment 41.3 41.7 42.0 40.2 41.7 42.9 44.6 45.9 46.8 2

 3 FA734090005 Net acquisition of financial assets 142.7 259.4 228.5 431.3 -18.8 396.5 -27.8 478.6 36.3 3

 4 FA733030003 Time and savings deposits 9.7 128.5 190.8 394.3 -46.7 -24.2 -299.9 -4.2 -104.9 4

 5 FA732051003 Security repurchase agreements 0.4 39.4 0.2 79.0 58.9 19.4 -47.7 -54.4 57.2 5

 6 FA734022605 Debt securities 29.1 -8.7 -39.9 8.9 -32.2 28.5 115.1 -13.7 -16.2 6

 7 FA733061103 Treasury securities 21.7 3.1 -28.3 6.0 -0.1 34.8 104.1 4.9 -8.4 7

 8 FA733061703 Agency- and GSE-backed securities 2.3 -9.3 -13.5 -7.7 -6.5 -9.2 -9.5 -7.2 -7.8 8

 9 FA733063003 Corporate and foreign bonds 5.2 -2.5 2.0 10.6 -25.6 2.9 20.5 -11.3 -0.1 9

 10 FA733069005 Loans (other loans and advances) 13.4 -11.1 44.3 -38.7 -57.7 8.0 58.3 33.7 -18.1 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 86.0 107.2 29.2 -16.1 54.9 360.8 142.4 513.3 114.4 12

 13 FA763194735 Net trans. with depository institution affiliates 93.5 72.6 -146.0 111.9 110.7 213.6 57.0 263.9 178.3 13

 14 FA513194733 Net trans. with property-casualty ins. co. affiliates 0.8 -3.9 -0.6 -19.3 4.4 -0.2 2.9 3.1 -0.0 14

 15 FA543194733 Net trans. with life insurance company affiliates 1.1 -5.9 -23.7 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA613194733 Net trans. with finance company affiliates -4.8 -2.0 -3.4 -1.0 0.8 -4.2 -2.3 -3.0 53.1 16

 17 FA663194735 Net trans. with broker and dealer affiliates 21.5 81.4 264.2 -189.6 23.3 227.6 7.7 230.2 -97.8 17

 18 FA263194735 Net trans. with foreign affiliates -1.2 -31.6 -46.3 69.1 -65.8 -83.5 70.2 11.1 -11.4 18

 19 FA733093005 Other -24.9 -3.3 -15.0 12.7 -18.5 7.5 6.9 7.8 -7.7 19

 20 FA734194005 Net increase in liabilities and equity -159.3 140.7 115.9 319.9 -74.5 201.5 -224.7 224.6 -235.0 20

 21 FA734190005 Net increase in liabilities 13.0 180.6 97.2 392.3 -46.6 279.5 -144.7 379.4 -90.1 21

 22 FA732151003 Security repurchase agreements -0.0 -0.0 -0.0 0.0 0.1 -0.1 0.4 -0.2 0.1 22

 23 FA734122005 Debt securities 40.8 131.7 369.7 274.7 -151.5 33.8 -157.3 318.7 -27.3 23

 24 FA733169103 Commercial paper -0.1 -0.7 -1.8 -2.1 -5.3 6.3 1.5 4.0 -0.2 24

 25 FA733163003 Corporate bonds 40.9 132.4 371.5 276.8 -146.2 27.5 -158.7 314.7 -27.1 25

 26 FA733192305 Foreign direct investment: intercompany debt (2) -20.6 8.8 4.9 4.2 1.3 24.7 22.6 5.0 -39.3 26

 27 FA733193005 Miscellaneous liabilities -7.3 40.2 -277.3 113.4 103.5 221.0 -10.4 55.9 -23.6 27

 28 FA733164005 Equity, etc. -35.0 49.9 -222.3 75.3 126.7 220.1 20.7 66.1 -66.0 28

 29 FA733193015 Other 27.8 -9.8 -55.0 38.2 -23.2 0.9 -31.1 -10.2 42.5 29

 30 FA733181105 Net equity issuance -172.3 -39.9 18.7 -72.4 -27.8 -78.0 -80.1 -154.9 -144.9 30

 31 FA733164103 Corporate equity issues -149.8 -18.2 -139.4 37.5 6.9 22.2 -57.3 -103.9 -155.5 31

 32 FA733192103 Foreign direct investment: equity (2) -22.5 -21.7 158.1 -109.9 -34.7 -100.2 -22.8 -51.0 10.6 32

 33 FA737005005 Discrepancy -170.6 -39.0 19.9 -70.8 -27.0 -78.2 -80.5 -156.0 -144.9 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, December 9, 2021

F.132 Other Financial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA504090005 Net acquisition of financial assets -20.1 366.5 614.5 368.3 201.7 281.6 286.3 -19.7 -36.5 1

 2 FA713129005 Checkable deposits and currency -1.1 93.0 396.8 -107.1 48.9 33.4 126.2 61.3 30.8 2

 3 FA503034005 Money market fund shares 38.5 160.8 402.4 283.3 -32.8 -9.9 144.1 76.3 -115.7 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 -60.6 116.2 -213.5 222.8 213.5 242.2 -195.6 -32.8 17.4 5

 6 FA503069105 Open market paper -60.8 1.9 -236.9 -173.0 213.6 204.1 15.3 -45.3 68.7 6

 7 FA503061303 Nonmarketable Treasury securities 0.0 95.7 0.0 382.5 0.1 0.1 -212.4 -34.0 -47.2 7

 8 FA503063005 Corporate and foreign bonds 0.2 12.4 23.4 8.5 -2.0 19.5 2.4 51.8 -2.5 8

 9 FA503062003 Municipal securities 0.0 6.3 0.0 4.8 1.8 18.5 -0.9 -5.1 -1.6 9

 10 FA503069005 Loans (other loans and advances) 1.4 22.5 23.1 -8.1 14.1 61.1 -8.6 -5.0 -1.4 10

 11 FA503064105 Corporate equities 0.0 8.8 0.0 31.9 2.6 0.6 -1.1 -29.8 -4.2 11

 12 FA503090005 Miscellaneous assets 1.7 -34.8 5.7 -54.5 -44.5 -45.8 221.2 -89.7 36.7 12

 13 FA503070655 Receivables due from brokers and dealers 5.2 -7.2 -5.6 -10.8 -2.8 -9.5 52.0 -19.9 0.7 13

 14 FA753194503 Investment in foreign banking offices -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 36.0 14

 15 FA663194505 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA504194005 Net increase in liabilities and equity -20.1 366.5 614.5 368.3 201.7 281.6 286.3 -19.7 -36.5 16

 17 FA504190005 Net increase in liabilities -20.1 366.5 614.5 368.3 201.7 281.6 286.3 -19.7 -36.5 17

 18 FA504122005 Debt securities -5.7 -27.5 -71.3 -31.3 -20.3 12.7 167.5 -95.2 71.2 18

 19 FA503169105 Open market paper -5.7 -27.5 -71.3 -31.3 -20.3 12.7 167.5 -95.2 71.2 19

 20 FA503163003 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA504123005 Loans 0.0 40.7 0.0 60.6 19.3 82.8 -7.0 -8.2 -60.4 21

 22 FA713068505 Depository institution loans n.e.c. 0.0 40.7 0.0 60.6 19.3 82.8 -7.0 -8.2 -60.4 22

 23 FA503169205 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA503192003 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FA503190005 Miscellaneous liabilities -14.4 353.4 685.8 339.1 202.8 186.1 125.8 83.8 -47.3 25

 26 FA663070653 Payables due to brokers and dealers -18.6 60.5 457.9 -229.2 -1.6 14.9 150.0 54.2 81.1 26

 27 FA663070675 Securities lending (net) 28.4 -1.3 -236.3 230.3 -125.0 125.6 -63.2 289.1 172.2 27

 28 FA503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA503194205 Equity in Federal Reserve facilities (2) 0.0 112.5 0.0 450.0 0.0 0.0 -248.9 -40.0 -53.7 29

 30 FA503193005 Other -24.2 181.8 464.1 -112.0 329.3 45.6 287.9 -219.5 -246.9 30

 31 FA503181105 Net equity issuance 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

(1) Includes funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, funds associated with the Public-Private Investment Program (PPIP), Federal Reserve funding,

 credit, and liquidity facility special purpose vehicles (SPV) created in response to the 2008 Financial Crisis and COVID-19 pandemic, and 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, December 9, 2021 49

F.133 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA266905005 Foreign income from U.S. 4324.2 3874.8 4058.6 3386.5 3917.1 4137.0 4374.9 4549.8 4704.5 1

 2 FA266903001 U.S. imports 3116.0 2774.6 2927.3 2346.7 2805.3 3019.1 3184.5 3343.2 3440.2 2

 3 FA266904101 U.S. income payments to rest of world 893.9 770.6 809.0 711.5 769.2 792.5 846.7 882.0 908.2 3

 4 FA266400101 Curr. taxes and trans. payments to rest of world 314.3 329.6 322.3 328.3 342.6 325.4 343.7 324.5 356.1 4

 5 FA266900005 Foreign outlays to U.S. 3844.4 3287.7 3606.6 2858.7 3252.4 3433.3 3569.4 3746.4 3829.8 5

 6 FA266903011 U.S. exports 2519.7 2123.4 2385.5 1807.9 2079.6 2220.7 2311.9 2461.5 2500.5 6

 7 FA266904001 U.S. income receipts from rest of world 1160.3 992.9 1048.9 883.5 996.1 1043.2 1081.6 1112.4 1156.5 7

 8 FA266400201 Curr. taxes and trans. payments from rest of world 164.4 171.4 172.1 167.4 176.7 169.5 175.9 172.4 172.8 8

 9 FA265440005 - Net capital transfers paid (1) -6.8 -6.1 -11.5 -4.1 -4.0 -4.8 -14.4 -3.8 11.7 9

 10 FA266000105 Gross saving less net capital transfers paid (2) 486.6 593.2 463.6 531.9 668.7 708.5 819.9 807.2 863.1 10

 11 FA265090005 Gross investment 296.8 486.4 -309.1 874.2 490.6 890.1 567.8 986.0 266.6 11

 12 FA265420005 Nonproduced nonfinancial assets -0.1 0.2 -0.4 -0.1 1.3 -0.1 -0.2 -0.1 0.0 12

 13 FA265000005 Net lending (+) or net borrowing (-) 296.9 486.3 -308.7 874.2 489.3 890.2 568.1 986.1 266.6 13

 14 FA264090005 Net acquisition of financial assets 549.3 1283.3 2712.2 5.7 477.1 1938.1 1692.5 1911.7 2354.8 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 0.0 451.2 16

 17 FA264016005 Net interbank assets -83.3 29.3 1399.2 -742.8 -263.5 -275.5 -456.8 -24.2 592.6 17

 18 FA263020005 U.S. checkable deposits and currency 59.0 156.1 291.2 54.4 133.0 145.6 100.1 59.0 5.2 18

 19 FA263030005 U.S. time deposits -2.1 98.5 452.8 -107.9 -1.5 50.5 154.7 74.9 -7.6 19

 20 FA263034003 Money market fund shares 14.4 2.0 21.6 21.6 -26.5 -8.7 19.3 4.6 -11.1 20

 21 FA262051005 Security repurchase agreements 21.3 10.4 487.0 -475.9 -89.0 119.6 313.0 472.4 345.1 21

 22 FA264022005 Debt securities 441.4 44.4 -1291.8 1009.6 -34.3 494.0 759.6 978.6 -57.0 22

 23 FA263069103 Open market paper 5.4 -45.3 -119.8 25.3 -73.7 -13.2 67.2 16.0 -10.7 23

 24 FA263061105 Treasury securities 223.6 -77.7 -1262.2 480.0 170.8 300.6 516.7 492.2 293.7 24

 25 FA263061705 Agency- and GSE-backed securities 55.0 -47.0 208.0 -217.3 -218.7 40.1 -111.3 -60.2 -42.5 25

 26 FA263062003 Municipal securities 4.0 4.8 -3.3 16.5 2.0 3.9 6.8 11.9 -1.0 26

 27 FA263063005 U.S. corporate bonds (4) 153.4 209.6 -114.5 705.1 85.3 162.5 280.3 518.7 -296.6 27

 28 FA263069500 Loans to U.S. corporate business 97.5 73.3 168.3 26.3 59.8 38.6 101.8 83.1 154.9 28

 29 FA263064105 U.S. corporate equities -205.4 637.9 860.9 119.8 507.1 1063.8 314.7 -113.2 124.9 29

 30 FA263064203 Mutual fund shares -53.0 8.5 167.5 -54.8 -9.0 -69.7 53.9 45.8 187.5 30

 31 FA263070005 Trade receivables 18.8 83.5 75.7 99.0 74.8 84.3 30.6 30.8 8.9 31

 32 FA543141905 Life insurance reserves 0.3 -9.1 -8.0 -11.7 -7.7 -9.1 -0.0 0.1 0.1 32

 33 FA543151905 Pension entitlements 0.6 -13.6 -12.0 -17.4 -11.4 -13.6 0.0 0.2 0.1 33

 34 FA263092001 Foreign direct investment in U.S. (5) 238.0 164.4 100.8 90.3 153.2 313.3 295.9 295.2 550.3 34

 35 FA263076005 Miscellaneous assets (insurance receivables) 2.0 -2.1 -1.1 -4.8 -7.9 5.2 5.7 4.5 9.8 35

 36 FA264194005 Net increase in liabilities and equity 252.5 797.0 3020.9 -868.6 -12.2 1047.9 1124.4 925.6 2088.2 36

 37 FA264190005 Net increase in liabilities 259.2 224.3 1799.0 -961.3 -699.3 759.0 513.6 49.9 1254.1 37

 38 FA263111005 U.S. official reserve assets 4.7 9.0 -1.0 19.8 7.3 9.8 -8.4 1.9 436.2 38

 39 FA263191005 U.S. private deposits 20.3 101.2 697.9 -525.2 246.5 -14.3 131.2 10.3 -136.3 39

 40 FA262151003 Security repurchase agreements 113.2 61.4 416.7 -353.5 -101.7 284.0 -532.8 -126.3 81.7 40

 41 FA264122005 Debt securities 112.6 6.6 -939.5 365.6 107.8 492.5 790.7 57.7 630.6 41

 42 FA263169105 Commercial paper 84.4 11.0 -138.0 5.2 91.3 85.6 132.7 12.5 26.2 42

 43 FA263163005 Bonds 28.1 -4.4 -801.5 360.4 16.5 406.9 658.0 45.3 604.4 43

 44 FA264123005 Loans 94.2 63.3 354.2 -150.4 -20.6 70.1 73.2 108.3 153.5 44

 45 FA263168005 Depository institution loans n.e.c. 87.1 66.0 332.9 -120.7 -2.9 54.6 70.3 110.1 189.4 45

 46 FA263169005 Other loans and advances 7.0 -2.7 21.3 -29.7 -17.7 15.6 2.9 -1.8 -35.9 46

 47 FA263170005 Trade payables 2.2 -0.4 -14.3 -5.3 16.2 2.0 17.8 -8.5 0.7 47

 48 FA263140005 Life insurance reserves 1.8 15.5 13.6 19.8 13.0 15.5 -2.7 4.4 3.3 48

 49 FA263150005 Pension entitlements 3.1 46.9 41.9 59.6 39.3 46.6 1.8 8.4 6.5 49

 50 FA263192305 U.S. direct investment abroad: intercompany debt (4,5) -98.7 -66.1 -148.8 62.1 -122.8 -54.8 13.8 -22.4 59.1 50

 51 FA263190005 Miscellaneous liabilities 5.9 -13.1 1378.2 -453.9 -884.2 -92.4 29.0 16.1 18.9 51

 52 FA313092803 U.S. equity in IBRD, etc. 1.4 1.8 5.2 0.0 0.9 1.3 4.7 0.0 3.3 52

 53 FA263191103 Nonofficial foreign currencies -0.5 14.2 1415.8 -523.2 -812.0 -24.0 -61.5 -7.8 -1.0 53

 54 FA263194735 Net investment by holding companies -1.2 -31.6 -46.3 69.1 -65.8 -83.5 70.2 11.1 -11.4 54

 55 FA263195105 Accident and health insurance reserves 0.8 5.8 5.1 7.4 4.9 5.8 -0.1 0.5 0.9 55

 56 FA263176005 Policy payables 5.5 -3.3 -1.6 -7.3 -12.2 8.1 15.7 12.3 27.0 56

 57 FA263181125 Net equity issues -6.7 572.7 1221.9 92.7 687.1 288.9 610.8 875.7 834.2 57

 58 FA263164100 Foreign corporate equities (6) -163.4 241.8 1036.0 -378.2 368.1 -58.8 303.2 379.4 530.7 58

 59 FA263192101 U.S. direct investment abroad: equity (5) 156.7 330.9 186.0 470.9 319.0 347.7 307.7 496.3 303.5 59

 60 FA267005005 Discrepancy (FOF basis) 189.8 106.7 772.6 -342.2 178.1 -181.5 252.1 -178.8 596.6 60

 Memo:

 61 FA266903005 Net U.S. exports, NIPA basis -596.3 -651.2 -541.7 -538.9 -725.7 -798.4 -872.5 -881.7 -939.7 61

 62 FA266904005 + Net U.S. income receipts (7) 266.4 222.3 239.9 172.0 226.8 250.6 234.8 230.4 248.3 62

 63 FA266400101 - Curr. taxes and trans. payments to rest of world 314.3 329.6 322.3 328.3 342.6 325.4 343.7 324.5 356.1 63

 64 FA266400201 + Curr. taxes and trans. payments from rest of world 164.4 171.4 172.1 167.4 176.7 169.5 175.9 172.4 172.8 64

 65 FA266000005 = Balance on current account, NIPAs -479.8 -587.1 -452.0 -527.8 -664.8 -703.7 -805.5 -803.4 -874.8 65

(1) Table F.5, line 67.

(2) Line 1 minus line 5 minus line 9. Also equal to line 65 with the sign reversed minus line 9.

(3) U.S. net sales, sign reversed.

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

(5) Direct investment reported at market value. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
Transactions

50 Z.1, December 9, 2021

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893111005 Net change in liabilities 4.7 9.0 -1.0 19.8 7.3 9.8 -8.4 1.9 887.4 1

 2 FA313111303 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 451.2 2

 3 FA263111005 Rest of the world 4.7 9.0 -1.0 19.8 7.3 9.8 -8.4 1.9 436.2 3

 4 FA313011303 SDR holdings 0.2 0.1 0.2 0.1 0.0 0.0 0.0 0.0 448.3 4

 5 FA263111403 Reserve position in IMF 4.3 8.8 -1.3 19.6 7.1 9.8 -8.6 1.7 -12.4 5

 6 FA263111503 Other reserves 0.2 0.1 0.1 0.2 0.1 -0.1 0.2 0.1 0.3 6

 7 FA893011005 Net change in assets 4.7 9.0 -1.0 19.8 7.3 9.8 -8.4 1.9 887.4 7

 8 FA313011005 Federal government 4.6 8.9 -1.0 19.8 7.2 9.8 -8.5 1.8 436.1 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 0.1 0.2 0.1 0.0 0.0 0.0 0.0 448.3 10

 11 FA313011405 Reserve position in IMF 4.3 8.8 -1.3 19.6 7.1 9.8 -8.6 1.7 -12.3 11

 12 FA313011505 Other reserves 0.1 0.0 0.1 0.1 0.1 -0.0 0.1 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 0.0 451.2 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 0.0 451.2 15

 16 FA713011005 Monetary authority 0.1 0.0 0.1 0.1 0.1 -0.0 0.1 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 0.1 0.0 0.1 0.1 0.1 -0.0 0.1 0.1 0.1 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 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 -0.5 -0.0 0.0 0.0 -0.2 0.0 0.0 0.0 -0.5 3

 4 FA713012003 Asset: Monetary authority 0.3 0.4 0.4 0.3 0.5 0.3 0.3 0.2 0.8 4

 5 FA903012005 Discrepancy (seigniorage) -0.8 -0.4 -0.4 -0.3 -0.6 -0.3 -0.3 -0.2 -1.3 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 20.3 101.2 697.9 -525.2 246.5 -14.3 131.2 10.3 -136.3 1

 Held by:

 2 FA153091003 Household sector -1.0 7.8 37.4 -25.8 15.8 3.7 5.5 -2.3 -4.6 2

 3 FA103091003 Nonfinancial corporate business 24.7 11.6 -78.6 136.0 57.1 -68.0 -3.2 139.9 -32.1 3

 4 FA633091003 Money market funds 5.8 -6.7 -14.5 -6.6 -4.9 -0.7 5.8 -7.6 2.4 4

 5 FA903091005 Discrepancy--unallocated assets -9.3 88.5 753.6 -628.8 178.4 50.8 123.1 -119.7 -102.0 5
Transactions

Z.1, December 9, 2021 51

F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA794110005 Net change in liabilities -99.0 1546.3 5773.1 196.0 -424.8 640.7 2623.8 -1065.6 1951.6 1

 2 FA714110005 Monetary authority -5.7 1461.9 3796.0 1219.5 -173.5 1005.5 2735.7 -668.7 1387.9 2

 3 FA764110005 U.S.-chartered depository institutions -13.8 4.1 489.0 -100.7 -24.7 -347.2 -220.9 -183.2 -18.2 3

 4 FA754110005 Foreign banking offices in U.S. -78.5 76.2 1421.5 -898.1 -199.8 -19.0 -5.7 -155.8 632.4 4

 5 FA744110005 Banks in U.S.-affiliated areas -0.3 0.3 -1.4 -0.1 1.8 0.7 0.1 -0.1 -0.0 5

 6 FA474110005 Credit unions -0.6 3.8 67.9 -24.5 -28.7 0.7 114.5 -57.7 -50.5 6

 7 FA894010005 Net change in assets -88.9 1535.8 5501.5 503.7 -506.7 644.8 2264.1 -691.1 1881.3 7

 8 FA714010005 Monetary authority 0.1 44.6 306.3 27.0 -69.7 -85.2 -14.8 1.8 -99.2 8

 9 FA763020005 U.S.-chartered depository institutions 20.3 1298.2 2370.7 1930.9 -194.6 1085.8 1675.7 -536.5 732.5 9

 10 FA753020005 Foreign banking offices in U.S. -44.5 48.3 1278.9 -916.8 19.8 -188.5 834.3 -47.6 670.5 10

 11 FA743013003 Banks in U.S.-affiliated areas -1.7 10.3 14.5 21.4 10.5 -5.2 -0.7 34.7 -3.2 11

 12 FA473013005 Credit unions 20.1 105.0 131.9 184.0 -9.2 113.5 226.4 -119.3 -11.8 12

 13 FA264016005 Rest of the world -83.3 29.3 1399.2 -742.8 -263.5 -275.5 -456.8 -24.2 592.6 13

 14 FA904010005 Discrepancy -10.1 10.4 271.6 -307.7 81.9 -4.1 359.7 -374.5 70.3 14

 Memo:

 Vault cash:

 15 FA703025005 Liab.: Monetary authority 1.4 15.8 94.2 -31.5 1.7 -1.3 24.6 -24.4 -2.5 15

 16 FA763025000 Asset: U.S.-chartered depository institutions 1.4 15.8 94.2 -31.5 1.7 -1.3 24.6 -24.4 -2.5 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 -7.1 1446.1 3701.7 1251.0 -175.2 1006.7 2711.1 -644.3 1390.5 18

 19 FA763013005 Asset: U.S.-chartered depository institutions 18.9 1282.4 2276.5 1962.5 -196.3 1087.0 1651.1 -512.1 735.0 19

 20 FA753013003 Foreign banking offices in U.S. -44.5 48.3 1278.9 -916.8 19.8 -188.5 834.3 -47.6 670.5 20

 21 FA743013003 Banks in U.S.-affiliated areas -1.7 10.3 14.5 21.4 10.5 -5.2 -0.7 34.7 -3.2 21

 22 FA473013005 Credit unions 20.1 105.0 131.9 184.0 -9.2 113.5 226.4 -119.3 -11.8 22

 Other transactions with the monetary authority

 23 FA714010075 Liab: U.S.-chartered depository institutions 0.1 44.2 306.3 25.0 -69.7 -84.7 -14.1 2.0 -99.0 23

 24 FA713068743 Credit unions 0.0 0.4 0.0 2.0 0.0 -0.4 -0.7 -0.2 -0.2 24

 25 FA714010005 Asset: Monetary authority 0.1 44.6 306.3 27.0 -69.7 -85.2 -14.8 1.8 -99.2 25

 26 FA713022003 Federal Reserve float 0.1 0.1 -0.0 -0.3 -2.4 3.0 -1.9 -0.0 1.5 26

 27 FA713068705 Loans to depository institutions -0.0 44.5 306.4 27.3 -67.3 -88.2 -12.8 1.8 -100.7 27

 Transactions with banks in foreign countries (net):

 28 FA764116205 Liab.: U.S.-chartered depository institutions (net) -18.3 -52.7 7.9 128.4 -120.7 -226.4 -434.0 148.4 2.2 28

 29 FA763192605 Due to foreign affiliates 22.7 44.6 175.3 31.9 -0.2 -28.7 -145.3 17.0 59.2 29

 30 FA763092605 - Due from foreign affiliates 41.0 97.3 167.5 -96.5 120.4 197.6 288.8 -131.3 57.0 30

 31 FA754116205 Foreign banking offices in U.S. (net) -74.5 56.6 1395.4 -946.9 -189.9 -32.1 -3.8 -149.7 594.5 31

 32 FA753192605 Due to foreign affiliates 0.0 37.4 1318.0 -796.4 -320.8 -51.1 68.5 -200.6 376.9 32

 33 FA753092605 - Due from foreign affiliates 74.5 -19.2 -77.4 150.6 -130.9 -19.1 72.4 -50.9 -217.6 33

 34 FA264116205 Less: Deposits at foreign banks -3.5 6.8 8.8 -7.7 12.7 13.4 29.6 -4.9 -17.1 34

 35 FA764016205 U.S.-chartered depository institutions -2.6 7.8 15.2 2.8 3.4 9.8 17.6 3.0 -4.2 35

 36 FA754016205 Foreign banking offices in U.S. -0.8 -1.0 -6.4 -10.5 9.3 3.7 12.0 -7.9 -12.9 36

 37 FA264135125 Loans to foreign banks -2.3 -25.1 -4.1 -49.3 -40.7 -6.5 -7.4 26.2 6.4 37

 38 FA764035125 U.S.-chartered depository institutions 0.0 -11.3 4.0 -23.5 -25.5 -0.2 1.1 13.9 5.2 38

 39 FA754035125 Foreign banking offices in U.S. -2.3 -13.8 -8.1 -25.8 -15.2 -6.3 -8.5 12.3 1.2 39

 40 FA264035125 Plus: Loans from foreign banks 3.8 7.1 0.7 18.8 19.1 -10.1 3.1 -1.5 -14.9 40

 41 FA274135123 U.S.-chartered depository institutions 2.6 5.6 -1.2 15.2 12.3 -4.2 1.4 1.3 -13.4 41

 42 FA284135125 Foreign banking offices in U.S. 1.2 1.6 1.8 3.6 6.8 -6.0 1.7 -2.8 -1.5 42

 43 FA264016005 Asset: Rest of the world (1) -83.3 29.3 1399.2 -742.8 -263.5 -275.5 -456.8 -24.2 592.6 43

 Transactions between U.S. depository institutions (net):

 44 FA764112005 U.S.-chartered depository institutions (net) -0.9 3.6 195.2 -290.0 131.4 -22.4 244.4 -318.0 93.0 44

 45 FA764112205 Due to (3): -9.5 3.9 209.8 -291.1 113.4 -16.4 261.7 -327.4 107.9 45

 46 FA754012205 Foreign banking offices in U.S. -0.4 -2.8 4.8 -10.1 4.6 -10.5 17.4 -10.5 -12.6 46

 47 FA743020005 Banks in U.S.-affiliated areas 0.3 -0.3 1.4 0.1 -1.8 -0.7 -0.1 0.1 0.0 47

 48 FA474012205 Credit unions 0.6 -3.4 -67.9 26.5 28.7 -1.1 -115.2 57.5 50.2 48

 49 FA754112205 - Due from: Foreign banking offices in U.S. -8.7 0.3 14.5 -1.1 -18.1 6.0 17.3 -9.4 15.0 49

 50 FA904010005 Unallocated (2) -10.1 10.4 271.6 -307.7 81.9 -4.1 359.7 -374.5 70.3 50

(1) Sum of lines 28 and 31 less line 34 and line 37 plus line 40.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 13 above. However, the unallocated amount (line 50), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 46, 47, 48, and 50.
Transactions

52 Z.1, December 9, 2021

F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA793120005 Net change in liabilities 272.2 4272.6 3798.2 7891.1 965.7 4435.6 -276.1 746.0 -1258.2 1

 2 FA713120005 Monetary authority 89.6 1738.4 1659.6 4914.8 333.1 46.2 -1615.5 -1202.5 -2639.2 2

 3 FA713123005 Federal government cash and deposits 1.7 1324.6 559.5 4937.5 65.7 -264.3 -2353.3 -913.9 -2771.4 3

 4 FA713124005 Due to government-sponsored enterprises 2.1 38.5 430.0 -312.2 -65.8 102.0 332.2 -421.8 18.2 4

 5 FA713129005 Due to other financial business -1.1 93.0 396.8 -107.1 48.9 33.4 126.2 61.3 30.8 5

 6 FA713122605 Deposits due to foreign -0.1 16.7 48.9 -4.7 10.8 11.7 45.5 -111.8 1.8 6

 7 FA713125005 Currency outside banks 87.0 265.7 224.5 401.3 273.5 163.4 234.0 183.6 81.5 7

 8 FA763127005 U.S.-chartered depository institutions 137.8 2381.3 1851.8 2788.7 552.3 4332.4 943.4 1933.0 1324.4 8

 9 FA763123005 Federal government deposits -0.1 1.1 -0.2 0.9 2.0 1.5 -1.4 8.1 -3.4 9

 10 FA763128000 State and local government deposits 6.2 90.8 15.6 112.6 56.2 178.9 78.1 205.2 100.6 10

 11 FA763122605 Deposits due to foreign 4.6 -17.1 48.2 -81.8 -30.4 -4.3 -13.1 70.4 6.0 11

 12 FA763129205 Private domestic deposits 127.2 2306.5 1788.1 2757.0 524.5 4156.4 879.8 1649.3 1221.2 12

 13 FA753127005 Foreign banking offices in U.S. 21.6 57.0 208.2 18.7 38.7 -37.8 201.8 -43.1 35.4 13

 14 FA753122603 Deposits due to foreign 3.2 35.2 90.1 23.4 5.2 22.0 27.3 49.9 -31.8 14

 15 FA753129205 Private domestic deposits 18.4 21.8 118.1 -4.6 33.5 -59.8 174.5 -93.0 67.2 15

 16 FA743127003 Banks in U.S.-affiliated areas 4.8 11.0 3.3 31.4 8.3 1.1 18.4 27.1 -13.7 16

 17 FA473127003 Credit unions 18.4 85.0 75.2 137.6 33.3 93.8 175.8 31.5 34.9 17

 18 FA793120005 Net change in assets 272.2 4272.6 3798.2 7891.1 965.7 4435.6 -276.1 746.0 -1258.2 18

 19 FA153020005 Household sector -45.8 1710.5 287.1 1473.9 927.5 4153.4 1434.9 1911.0 458.9 19

 20 FA143020005 Nonfinancial business 170.6 764.7 1409.8 1873.8 127.6 -352.5 306.8 -173.2 439.9 20

 21 FA103020000 Corporate 150.2 665.3 1182.7 1684.7 140.1 -346.2 214.8 -229.7 353.7 21

 22 FA113020005 Noncorporate 20.4 99.3 227.0 189.1 -12.4 -6.3 91.9 56.6 86.2 22

 23 FA313020005 Federal government 1.0 1326.3 642.6 4840.1 164.0 -341.5 -2274.6 -1011.5 -2654.8 23

 24 FA213020005 State and local governments 6.2 90.8 15.6 112.6 56.2 178.9 78.1 205.2 100.6 24

 25 FA793020005 Domestic financial sectors 81.2 224.8 1234.9 -562.7 -345.0 572.0 157.6 -349.8 512.3 25

 26 FA513020005 Property-casualty insurance companies 17.4 2.6 -13.8 41.3 -32.9 15.5 29.3 -14.0 38.0 26

 27 FA543020005 Life insurance companies 4.0 33.0 195.6 19.7 -65.9 -17.6 -25.6 75.9 -7.2 27

 28 FA573020005 Private pension funds 7.3 8.1 10.9 7.4 7.4 6.7 2.2 5.4 4.3 28

 29 FA343020033 Federal government retirement funds -0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 29

 30 FA223020043 State and local govt. retirement funds 4.9 4.7 -3.6 -6.1 1.5 26.9 -23.7 9.1 -0.3 30

 31 FA633020000 Money market funds 44.9 -9.0 -104.8 -137.2 -169.7 375.8 -184.3 -137.5 347.9 31

 32 FA403020005 Government-sponsored enterprises -2.2 57.8 429.4 -283.7 -53.7 139.3 245.7 -341.1 71.1 32

 33 FA613020003 Finance companies -2.0 4.2 16.9 17.1 -14.9 -2.4 -2.7 1.3 3.2 33

 34 FA643020005 REITs 8.9 17.1 160.2 -22.2 -45.8 -23.7 -3.5 6.5 6.2 34

 35 FA663020003 Brokers and dealers -1.0 13.2 147.0 -92.1 -20.1 18.0 -6.3 -17.0 18.2 35

 36 FA713129005 Other financial business -1.1 93.0 396.8 -107.1 48.9 33.4 126.2 61.3 30.8 36

 37 FA263020005 Rest of the world 59.0 156.1 291.2 54.4 133.0 145.6 100.1 59.0 5.2 37

 38 FA263027003 Checkable deposits 7.7 34.7 187.2 -63.2 -14.4 29.3 59.7 8.4 -24.1 38

 39 FA263025003 Currency 51.3 121.3 104.1 117.6 147.4 116.2 40.4 50.6 29.3 39

 40 FA903020005 Mail float -0.0 -0.5 -83.1 99.1 -97.7 79.7 -78.9 105.2 -120.4 40
Transactions

Z.1, December 9, 2021 53

F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA703130005 Net change in liabilities 684.1 795.2 2325.2 3098.4 59.0 -2302.1 1951.8 -424.0 488.0 1

 2 FA763130005 U.S.-chartered depository institutions 511.5 655.7 2474.9 2489.4 30.2 -2371.5 1621.6 -463.7 437.7 2

 3 FA753130005 Foreign banking offices in U.S. 89.0 -50.8 -198.1 232.7 -134.7 -103.0 140.2 -29.1 -74.3 3

 4 FA743130003 Banks in U.S.-affiliated areas 1.4 3.1 6.7 4.8 2.8 -2.1 13.3 3.3 -19.9 4

 5 FA473130005 Credit unions 82.2 187.1 41.7 371.5 160.6 174.6 176.6 65.6 144.4 5

 6 FA703130005 Net change in assets 684.1 795.2 2325.2 3098.4 59.0 -2302.1 1951.8 -424.0 488.0 6

 7 FA153030005 Household sector 536.6 471.6 1022.1 2528.0 290.4 -1954.0 1840.1 -344.8 308.8 7

 8 FA143030005 Nonfinancial business 72.9 229.7 688.5 354.2 0.4 -124.1 97.3 85.6 287.1 8

 9 FA103030003 Corporate 14.3 107.3 389.7 123.5 14.9 -99.0 -38.0 26.1 153.8 9

 10 FA113030003 Noncorporate 58.6 122.5 298.8 230.7 -14.5 -25.1 135.3 59.5 133.3 10

 11 FA313030003 Federal government 0.3 -1.3 -1.6 0.6 -1.7 -2.7 35.5 -34.4 2.0 11

 12 FA213030000 State and local governments 19.8 -9.6 54.6 18.2 12.3 -123.4 1.1 -39.0 -36.7 12

 13 FA793030005 Domestic financial sectors 56.6 6.3 108.8 305.3 -240.8 -148.4 -177.0 -166.2 -65.5 13

 14 FA573030005 Private pension funds -15.4 -7.3 -4.4 -7.8 -7.9 -9.1 -5.2 3.1 0.2 14

 15 FA223030043 State and local govt. retirement funds 4.6 -2.2 -1.0 -5.9 -1.4 -0.6 -0.1 1.6 0.0 15

 16 FA633030000 Money market funds 68.2 -118.3 -128.1 -115.4 -121.0 -108.6 142.7 -167.0 29.2 16

 17 FA403030005 Government-sponsored enterprises -4.4 -7.0 0.7 -11.0 -19.0 1.3 -6.4 -3.7 0.3 17

 18 FA613030003 Finance companies -6.0 12.5 50.8 51.2 -44.8 -7.2 -8.1 4.0 9.7 18

 19 FA733030003 Holding companies 9.7 128.5 190.8 394.3 -46.7 -24.2 -299.9 -4.2 -104.9 19

 20 FA263030005 Rest of the world -2.1 98.5 452.8 -107.9 -1.5 50.5 154.7 74.9 -7.6 20

F.206 Money Market Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA634090005 Net issues 596.0 701.3 3093.7 1300.9 -1054.3 -535.2 927.6 254.2 -124.1 1

 2 FA634090005 Net purchases 596.0 701.3 3093.7 1300.9 -1054.3 -535.2 927.6 254.2 -124.1 2

 3 FA153034005 Household sector 411.8 337.4 916.5 1096.5 -219.1 -444.5 883.7 210.6 -148.7 3

 4 FA103034000 Nonfinancial corporate business 92.2 119.6 1499.0 -179.0 -757.7 -84.2 -144.9 -53.2 111.5 4

 5 FA113034003 Nonfinancial noncorporate business 5.8 9.1 13.9 17.7 5.7 -1.1 3.0 1.5 2.3 5

 6 FA213034003 State and local governments 6.8 7.9 23.3 11.9 -4.0 0.5 5.2 1.2 -3.0 6

 7 FA513034005 Property-casualty insurance companies 2.5 9.9 -0.3 32.5 -10.8 18.3 15.4 -23.5 34.6 7

 8 FA543034005 Life insurance companies 3.6 7.9 119.2 -15.0 -46.7 -25.9 -15.9 16.6 -17.2 8

 9 FA573034005 Private pension funds 21.2 42.7 61.4 39.4 38.9 31.3 10.7 26.0 23.3 9

 10 FA223034005 State and local govt. retirement funds -0.8 4.0 36.6 -8.1 -1.4 -11.1 7.1 -6.2 -0.0 10

 11 FA503034005 Other financial business 38.5 160.8 402.4 283.3 -32.8 -9.9 144.1 76.3 -115.7 11

 12 FA263034003 Rest of the world 14.4 2.0 21.6 21.6 -26.5 -8.7 19.3 4.6 -11.1 12
Transactions

54 Z.1, December 9, 2021

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA892150005 Net change in liabilities 333.0 -192.7 1511.1 -2781.5 22.6 477.1 -629.8 3136.8 2794.2 1

 2 FA712151003 Monetary authority 32.6 -120.6 929.7 -1344.5 -110.9 43.3 544.5 3635.0 2577.0 2

 3 FA762150005 U.S.-chartered depository institutions 23.9 3.9 96.4 -2.5 -45.8 -32.6 66.3 -177.4 30.4 3

 4 FA762152005 Federal funds (2) -1.7 -17.1 41.6 -58.4 -55.8 4.1 -6.6 0.2 -9.8 4

 5 FA762151005 Security repurchase agreements 25.6 21.0 54.8 55.9 9.9 -36.6 72.9 -177.5 40.2 5

 6 FA752150005 Foreign banking offices in U.S. 46.4 -5.1 251.1 -403.2 171.2 -39.4 120.6 -72.0 103.9 6

 7 FA752152005 Federal funds (2) 1.3 -6.9 25.9 -15.0 -15.3 -23.1 48.1 23.5 -15.4 7

 8 FA752151005 Security repurchase agreements 45.1 1.8 225.2 -388.1 186.5 -16.3 72.5 -95.5 119.4 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 -0.0 0.1 0.2 0.3 0.1 -0.3 0.0 0.1 -0.1 10

 11 FA542151073 Life insurance companies -6.5 1.1 31.5 -16.1 16.5 -27.7 -13.3 0.6 6.2 11

 12 FA402150005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.4 0.0 12

 13 FA642151073 REITs 71.8 -157.6 -478.3 -120.0 -38.1 5.8 -13.4 -30.3 -21.7 13

 14 FA662151003 Brokers and dealers 51.6 24.2 263.7 -542.1 131.2 244.1 -802.4 -92.4 16.7 14

 15 FA732151003 Holding companies -0.0 -0.0 -0.0 0.0 0.1 -0.1 0.4 -0.2 0.1 15

 16 FA262151003 Rest of the world 113.2 61.4 416.7 -353.5 -101.7 284.0 -532.8 -126.3 81.7 16

 17 FA892050005 Net change in assets 618.9 -251.5 1984.5 -3417.6 -106.7 533.6 -777.0 2251.9 2518.4 17

 18 FA102051003 Nonfinancial corporate business -1.2 26.4 56.0 20.0 -8.4 38.1 -50.9 38.7 -24.0 18

 19 FA212051003 State and local governments -1.3 19.3 -8.7 51.5 18.5 15.9 25.0 25.5 23.3 19

 20 FA712051000 Monetary authority 255.6 -255.6 28.4 -819.1 -231.8 0.0 0.0 0.0 0.0 20

 21 FA762050005 U.S.-chartered depository institutions -24.3 179.8 -108.9 916.1 -248.8 160.8 -975.8 23.1 -50.9 21

 22 FA762052005 Federal funds (2) 3.9 1.3 -11.4 42.8 -48.6 22.2 8.5 -0.9 -6.6 22

 23 FA762051005 Security repurchase agreements -28.2 178.5 -97.5 873.3 -200.2 138.6 -984.3 24.0 -44.3 23

 24 FA752050005 Foreign banking offices in U.S. 60.0 -55.4 -207.4 -99.9 135.8 -49.9 -63.8 -126.2 91.5 24

 25 FA752052005 Federal funds (2) -0.9 0.0 1.2 2.0 0.6 -3.6 2.6 -3.6 0.6 25

 26 FA752051005 Security repurchase agreements 60.9 -55.4 -208.5 -101.9 135.2 -46.3 -66.4 -122.6 90.9 26

 27 FA472050053 Credit unions 0.6 -0.3 -0.1 -0.1 0.2 -1.1 -0.2 -0.9 -0.1 27

 28 FA472052053 Federal funds 0.1 -0.1 0.2 -0.7 0.2 -0.3 -0.0 0.0 0.0 28

 29 FA472051053 Security repurchase agreements 0.5 -0.1 -0.3 0.6 -0.0 -0.8 -0.2 -0.9 -0.2 29

 30 FA512051005 Property-casualty insurance companies 0.6 0.2 1.5 2.5 0.5 -3.6 0.3 1.0 -1.2 30

 31 FA542051075 Life insurance companies 4.1 1.9 12.9 -4.3 8.5 -9.6 -4.6 0.3 2.9 31

 32 FA572051005 Private pension funds 13.3 5.3 3.8 5.6 5.6 6.2 3.4 6.0 5.2 32

 33 FA222051043 State and local govt. retirement funds 3.5 1.1 -2.0 -9.8 -5.9 22.2 40.2 36.4 -2.1 33

 34 FA632051000 Money market funds 155.7 -168.8 1537.2 -2551.4 363.9 -25.1 557.9 1791.8 1890.8 34

 35 FA652051003 Mutual funds 21.2 5.4 17.9 -12.8 -29.8 46.2 25.4 16.6 35.8 35

 36 FA402050005 Government-sponsored enterprises 24.6 17.3 -165.0 284.4 -72.4 22.3 -262.8 439.9 -166.4 36

 37 FA402052033 Of which: FHLB federal funds (3) -2.9 -19.8 92.0 -82.8 -36.5 -52.1 91.0 -25.5 16.0 37

 38 FA662051003 Brokers and dealers 84.9 -78.0 331.7 -803.2 -12.6 172.3 -336.3 -418.4 311.3 38

 39 FA732051003 Holding companies 0.4 39.4 0.2 79.0 58.9 19.4 -47.7 -54.4 57.2 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 21.3 10.4 487.0 -475.9 -89.0 119.6 313.0 472.4 345.1 41

 42 FA902050005 Discrepancy -285.9 58.9 -473.4 636.0 129.3 -56.5 147.2 884.9 275.7 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations:

 43 FA712151103 Liability: Monetary authority (4) 22.2 -54.4 883.3 -1135.8 -0.4 35.2 498.6 3430.5 2451.8 43

 44 FA632051103 Asset: Money market funds (5) 7.2 -37.2 952.0 -1135.8 -0.4 35.2 462.6 2919.1 2335.4 44

 45 FA792051115 Other financial institutions (6) 15.0 -17.2 -68.8 -0.0 0.0 0.0 36.0 511.4 116.4 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, December 9, 2021 55

F.208 Debt Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FA894122005 Net issues 1951.1 6189.1 5068.3 14026.8 2074.0 3587.3 4058.2 3745.9 689.5 1

 2 FA893169175 Open market paper 49.3 -58.4 -128.0 -362.7 -9.2 266.6 103.4 -3.8 161.2 2

 3 FA313161105 Treasury securities 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 -1048.1 3

 4 FA893161705 Agency- and GSE-backed securities 316.9 657.2 1505.5 -222.5 532.8 812.9 698.1 600.9 565.0 4

 5 FA383162005 Municipal securities 9.6 84.4 32.6 98.9 184.0 21.9 119.8 116.7 71.1 5

 6 FA893163005 Corporate and foreign bonds 398.7 923.7 975.6 2192.9 -11.8 538.3 1013.2 717.2 940.4 6

 By sector

 7 FA894122005 Net issues 1951.1 6189.1 5068.3 14026.8 2074.0 3587.3 4058.2 3745.9 689.5 7

 8 FA384122005 Domestic nonfinancial sectors 1439.5 5278.7 3424.8 13895.3 1730.0 2064.7 2446.5 2619.1 -629.6 8

 9 FA163162003 Nonprofit organizations (2) -3.3 -10.3 -11.7 -9.0 -5.4 -15.0 2.8 -1.0 -4.5 9

 10 FA104122005 Nonfinancial corporate business 270.3 617.2 724.3 1474.7 186.7 83.0 210.9 202.9 368.9 10

 11 FA314122005 Federal government 1174.9 4581.2 2682.6 12319.5 1374.7 1947.8 2122.3 2314.9 -1049.4 11

 12 FA213162005 State and local governments -2.3 90.6 29.7 110.1 174.0 48.8 110.5 102.4 55.4 12

 13 FA794122005 Domestic financial sectors 399.0 903.8 2583.1 -234.1 236.1 1030.1 821.0 1069.1 688.5 13

 14 FA764122005 U.S.-chartered depository institutions -37.8 61.3 93.0 37.2 36.8 78.2 51.1 -1.4 -27.6 14

 15 FA753169175 Foreign banking offices in U.S. -2.3 -2.6 50.5 -31.2 -28.6 -1.0 19.3 5.4 -5.0 15

 16 FA403161705 Government-sponsored enterprises 204.9 635.9 1388.3 -177.4 505.6 827.2 665.9 483.5 514.8 16

 17 FA413065005 Agency- and GSE-backed mortgage pools 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 51.5 17

 18 FA674122005 ABS issuers 69.9 51.6 240.6 -47.9 6.2 7.4 42.3 96.4 180.9 18

 19 FA614122005 Finance companies -43.8 -20.2 100.8 -46.9 -119.3 -15.3 -77.5 11.9 -133.1 19

 20 FA644122005 REITs 69.3 41.4 -37.8 142.0 33.7 27.8 26.2 99.7 22.5 20

 21 FA663163003 Brokers and dealers -10.1 10.0 332.0 -308.7 -57.2 73.8 49.8 32.7 40.5 21

 22 FA734122005 Holding companies 40.8 131.7 369.7 274.7 -151.5 33.8 -157.3 318.7 -27.3 22

 23 FA504122005 Other financial business -5.7 -27.5 -71.3 -31.3 -20.3 12.7 167.5 -95.2 71.2 23

 24 FA264122005 Rest of the world 112.6 6.6 -939.5 365.6 107.8 492.5 790.7 57.7 630.6 24

 25 FA894122005 Net purchases 1951.1 6189.1 5068.3 14026.8 2074.0 3587.3 4058.2 3745.9 689.5 25

 26 FA384022005 Domestic nonfinancial sectors 377.9 -167.9 518.4 -182.9 -1255.4 248.0 -1997.5 -28.9 666.8 26

 27 FA154022005 Household sector 271.9 -448.6 268.1 -832.8 -1297.6 68.1 -2049.3 -952.4 285.1 27

 28 FA104022005 Nonfinancial corporate business 69.3 52.7 183.6 83.6 -14.2 -42.1 -102.7 98.6 59.8 28

 29 FA114022005 Nonfinancial noncorporate business 1.0 3.0 -14.2 14.9 6.7 4.8 7.6 -3.3 -0.5 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 35.7 224.8 80.9 551.4 49.8 217.3 146.9 828.3 322.4 31

 32 FA794022005 Domestic financial sectors 1131.8 6312.7 5841.7 13200.1 3363.7 2845.3 5296.1 2796.2 79.8 32

 33 FA714022005 Monetary authority -137.5 3217.0 4281.5 6046.3 1304.3 1235.7 1610.4 1486.6 1706.8 33

 34 FA764022005 U.S.-chartered depository institutions 242.8 1003.2 644.7 1224.7 1108.2 1035.2 1898.0 987.1 954.2 34

 35 FA754022005 Foreign banking offices in U.S. -30.1 -12.6 104.5 -74.6 -55.0 -25.4 -12.3 -42.4 10.1 35

 36 FA744022003 Banks in U.S.-affiliated areas 13.2 6.1 -3.5 16.1 3.0 9.0 16.9 -7.9 20.5 36

 37 FA474022005 Credit unions 11.1 88.8 11.5 133.9 115.2 94.7 277.5 -11.2 72.5 37

 38 FA514022005 Property-casualty insurance companies 29.7 53.1 67.9 65.6 106.5 -27.6 94.1 126.2 38.3 38

 39 FA544022005 Life insurance companies 122.1 184.3 290.7 56.6 304.5 85.6 73.8 73.2 330.1 39

 40 FA574022005 Private pension funds 47.5 92.4 139.4 48.7 72.4 109.1 23.9 91.5 92.4 40

 41 FA344022005 Federal government retirement funds 113.5 147.7 183.2 199.5 119.0 89.1 148.6 240.5 -852.0 41

 42 FA224022045 State and local govt. retirement funds -136.1 52.4 -21.5 -34.3 105.0 160.3 217.2 338.2 -18.3 42

 43 FA634022005 Money market funds 319.0 1004.0 1797.0 4315.6 -1310.8 -785.6 477.2 -1072.0 -2605.8 43

 44 FA654022005 Mutual funds 356.5 339.7 -1048.2 436.5 1228.2 742.3 1191.8 400.2 174.7 44

 45 FA554022005 Closed-end funds 3.2 0.8 3.6 -0.7 -0.2 0.7 10.3 8.0 1.9 45

 46 FA564022005 Exchange-traded funds 148.3 202.9 43.2 340.9 225.4 201.9 172.6 251.3 197.8 46

 47 FA404022005 Government-sponsored enterprises 52.8 46.7 -8.1 251.2 57.9 -114.3 -113.0 -102.6 -33.8 47

 48 FA674022005 ABS issuers 12.6 -2.7 -4.0 -5.8 -4.1 3.1 -7.0 -4.6 5.2 48

 49 FA613063003 Finance companies -0.5 9.7 7.4 16.4 5.9 9.2 1.3 24.7 28.5 49

 50 FA644022005 REITs 46.9 -154.5 -596.4 -19.3 -15.7 13.6 -27.2 -38.3 -73.9 50

 51 FA664022005 Brokers and dealers -51.7 -73.9 202.3 -49.0 -187.2 -261.8 -677.6 93.9 29.3 51

 52 FA734022605 Holding companies 29.1 -8.7 -39.9 8.9 -32.2 28.5 115.1 -13.7 -16.2 52

 53 FA504022005 Other financial business -60.6 116.2 -213.5 222.8 213.5 242.2 -195.6 -32.8 17.4 53

 54 FA264022005 Rest of the world 441.4 44.4 -1291.8 1009.6 -34.3 494.0 759.6 978.6 -57.0 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.

(2) Liability of the households and nonprofit organizations sector (table F.101).
Transactions

56 Z.1, December 9, 2021

F.209 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893169175 Net issues 49.3 -58.4 -128.0 -362.7 -9.2 266.6 103.4 -3.8 161.2 1

 2 FA893169105 Commercial paper 49.3 -58.4 -128.0 -362.7 -9.2 266.6 103.4 -3.8 161.2 2

 3 FA103169100 Nonfinancial corporate business -1.9 -62.3 -21.4 -271.3 -70.6 114.0 -223.5 113.2 40.8 3

 4 FA263169105 Foreign issues in U.S. 84.4 11.0 -138.0 5.2 91.3 85.6 132.7 12.5 26.2 4

 5 FA263169110 Nonfinancial 6.3 -9.0 3.3 -16.6 -27.1 4.5 -22.6 -33.3 74.6 5

 6 FA263169123 Financial 78.2 20.0 -141.3 21.8 118.5 81.0 155.3 45.8 -48.4 6

 7 FA793169100 Domestic financial sectors -33.2 -7.0 31.4 -96.7 -29.9 67.0 194.2 -129.4 94.2 7

 8 FA763169103 U.S.-chartered depository institutions -19.1 30.8 46.5 18.0 20.2 38.8 28.4 -1.3 -12.4 8

 9 FA753169103 Foreign banking offices in U.S. -2.3 -2.6 50.5 -31.2 -28.6 -1.0 19.3 5.4 -5.0 9

 10 FA673169105 ABS issuers -5.0 14.7 9.9 -0.8 26.5 23.1 -24.6 -35.7 36.0 10

 11 FA613169100 Finance companies -1.1 -21.7 -2.4 -49.2 -22.4 -12.9 2.0 -6.6 4.5 11

 12 FA643169173 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA733169103 Holding companies -0.1 -0.7 -1.8 -2.1 -5.3 6.3 1.5 4.0 -0.2 13

 14 FA503169105 Other financial business -5.7 -27.5 -71.3 -31.3 -20.3 12.7 167.5 -95.2 71.2 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 49.3 -58.4 -128.0 -362.7 -9.2 266.6 103.4 -3.8 161.2 18

 19 FA103069100 Nonfinancial corporate business 55.4 38.3 55.4 -32.0 68.0 61.9 -63.3 126.5 18.2 19

 20 FA213069103 State and local governments -0.6 1.7 -4.1 -5.6 8.8 7.5 15.7 23.8 28.4 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 2.0 110.2 -63.2 -31.4 -7.6 -7.5 -0.4 0.0 22

 23 FA753069603 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA473069153 Credit unions 0.5 -0.4 1.8 -1.9 -1.5 0.2 -0.7 -0.3 -0.1 24

 25 FA513069105 Property-casualty insurance companies 0.5 -0.8 5.6 9.4 -0.6 -17.5 1.3 4.1 -4.6 25

 26 FA543069105 Life insurance companies -4.4 5.2 36.6 -16.1 21.3 -20.9 -13.8 -0.4 8.7 26

 27 FA573069105 Private pension funds -2.5 -0.5 1.5 -1.0 -1.0 -1.7 -1.5 -2.0 -1.9 27

 28 FA223069143 State and local govt. retirement funds -6.4 -1.8 12.5 -19.2 0.4 -1.0 25.0 17.5 -0.9 28

 29 FA633069175 Money market funds 43.5 -63.8 -52.2 -42.8 -180.1 20.1 45.0 -164.4 -0.4 29

 30 FA653069100 Mutual funds 21.2 5.4 8.6 -9.0 -19.7 41.5 18.1 17.8 49.2 30

 31 FA403069105 Government-sponsored enterprises 0.3 0.2 4.2 -2.8 -5.2 4.4 -1.3 -6.3 -2.7 31

 32 FA663069103 Brokers and dealers -2.9 -0.3 48.7 -30.8 -7.9 -11.3 4.0 9.9 9.3 32

 33 FA503069105 Other financial business -60.8 1.9 -236.9 -173.0 213.6 204.1 15.3 -45.3 68.7 33

 34 FA263069103 Rest of the world 5.4 -45.3 -119.8 25.3 -73.7 -13.2 67.2 16.0 -10.7 34

(1) Excludes banks’ holdings of own acceptances.
Transactions

Z.1, December 9, 2021 57

F.210 Treasury Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA313161105 Net issues 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 -1048.1 1

 2 FA313161205 Marketable Treasury securities 1062.7 4317.3 2462.0 11726.3 1221.9 1858.8 2184.3 2103.5 -162.7 2

 3 FA313161110 Treasury bills 77.0 2546.6 723.8 10349.1 -351.3 -535.1 -1408.8 -919.0 -2407.4 3

 4 FA313161275 Other Treasury notes, bonds, and TIPS 987.2 1772.2 1738.2 1383.3 1573.2 2393.9 3593.1 3027.4 2244.7 4

 5 FA313161283 Held in the Civil Service Retirement Fund (2) -1.5 -1.5 0.0 -6.2 0.0 0.0 0.0 -4.8 0.0 5

 6 FA313161305 Nonmarketable Treasury securities 113.9 264.9 220.6 593.9 156.3 88.8 -60.5 211.3 -885.4 6

 7 FA313161400 U.S. savings securities -4.4 -4.3 -5.0 -1.3 -4.7 -6.3 -5.0 -4.5 -4.2 7

 8 FA213061120 State and local government series (SLGS) 11.6 38.0 30.0 39.7 76.7 5.7 27.7 28.4 21.2 8

 9 FA343061123 Thrift Savings Plan G Fund -2.6 42.0 66.7 42.9 35.8 22.5 -1.8 11.0 -715.8 9

 10 FA343061145 Federal govt. defined benefit pension plans 113.4 103.6 128.3 153.1 75.6 57.2 151.0 235.8 -135.5 10

 11 FA503061303 Held by Federal Reserve credit facility LLCs 0.0 95.7 0.0 382.5 0.1 0.1 -212.4 -34.0 -47.2 11

 12 FA313161375 Other nonmarketable securities -4.0 -10.0 0.7 -23.1 -27.2 9.6 -19.9 -25.4 -3.9 12

 13 FA893061105 Net purchases 1176.6 4582.2 2682.7 12320.2 1378.2 1947.6 2123.8 2314.9 -1048.1 13

 14 FA153061105 Household sector 174.1 -117.9 -494.3 -205.7 -127.2 355.8 -639.7 -811.8 82.8 14

 15 FA313161400 U.S. savings securities (line 7) -4.4 -4.3 -5.0 -1.3 -4.7 -6.3 -5.0 -4.5 -4.2 15

 16 FA153061185 Other Treasury securities 178.5 -113.5 -489.3 -204.5 -122.5 362.1 -634.8 -807.3 87.1 16

 17 FA103061103 Nonfinancial corporate business 6.7 9.8 93.1 85.9 -62.8 -77.2 -27.5 -21.5 31.2 17

 18 FA113061003 Nonfinancial noncorporate business 0.9 2.7 -15.3 14.4 6.5 5.2 6.6 -3.1 -1.3 18

 19 FA213061105 State and local governments 51.4 291.3 41.7 728.8 138.7 256.1 227.3 830.6 320.7 19

 20 FA213061120 SLGS (line 8) 11.6 38.0 30.0 39.7 76.7 5.7 27.7 28.4 21.2 20

 21 FA213061103 Other Treasury securities 39.8 253.3 11.7 689.1 62.0 250.4 199.7 802.2 299.5 21

 22 FA713061103 Monetary authority 99.1 2554.3 4077.9 4137.3 1000.5 1001.4 1017.8 958.9 1004.2 22

 23 FA713061113 Treasury bills 168.5 157.5 625.5 2.8 1.2 0.5 0.2 0.1 0.3 23

 24 FA713061125 Other Treasury securities -69.3 2396.8 3452.4 4134.5 999.3 1000.9 1017.6 958.8 1003.9 24

 25 FA763061100 U.S.-chartered depository institutions 125.6 327.5 75.5 859.7 306.1 68.7 406.6 355.5 349.1 25

 26 FA753061103 Foreign banking offices in U.S. -9.9 -27.3 -58.7 6.4 -28.5 -28.5 -32.1 -14.0 9.2 26

 27 FA743061103 Banks in U.S.-affiliated areas 5.9 -3.6 -13.2 12.2 -9.4 -4.2 9.2 -0.0 11.7 27

 28 FA473061105 Credit unions 5.1 6.3 -7.7 15.0 6.3 11.8 31.4 -0.5 13.6 28

 29 FA513061105 Property-casualty insurance companies -7.0 0.9 3.1 23.6 19.9 -43.0 44.5 75.0 -6.6 29

 30 FA513061115 Treasury bills -8.8 14.5 38.1 64.2 26.6 -70.9 7.5 24.0 -27.2 30

 31 FA513061125 Other Treasury securities 1.8 -13.6 -35.0 -40.6 -6.7 27.9 37.0 51.1 20.6 31

 32 FA543061105 Life insurance companies -6.4 7.1 -5.9 6.6 28.0 -0.3 -10.9 21.2 21.9 32

 33 FA543061115 Treasury bills 0.6 6.3 23.2 -3.1 19.0 -13.9 -8.3 1.1 4.1 33

 34 FA543061125 Other Treasury securities -7.0 0.8 -29.1 9.7 9.1 13.7 -2.6 20.1 17.8 34

 35 FA573061105 Private pension funds 52.1 97.3 115.8 92.5 92.2 88.6 35.7 75.6 62.2 35

 36 FA573061143 Defined benefit plans 34.7 20.2 14.5 21.2 21.4 23.8 13.1 22.9 19.8 36

 37 FA573061133 Defined contribution plans 17.4 77.1 101.4 71.3 70.8 64.8 22.6 52.7 42.4 37

 38 FA343061105 Federal government retirement funds (3) 111.2 145.5 190.6 193.8 113.8 84.0 148.5 241.4 -851.7 38

 39 FA343061165 Defined benefit plans 111.8 101.5 126.6 147.4 74.5 57.6 151.4 231.1 -135.4 39

 40 FA343061155 Defined contribution plans -0.6 44.0 64.0 46.4 39.2 26.4 -2.9 10.3 -716.3 40

 41 FA223061143 State and local govt. retirement funds -21.7 -7.1 -143.8 -110.8 93.3 132.7 47.7 318.0 -13.2 41

 42 FA633061105 Money market funds 163.0 1219.8 1041.5 4767.2 -562.5 -366.9 565.2 -580.9 -2350.8 42

 43 FA633061110 Treasury bills 31.1 1199.1 860.9 4568.4 -380.7 -252.2 181.9 -674.2 -2546.0 43

 44 FA633061120 Other Treasury securities 131.9 20.7 180.6 198.8 -181.8 -114.6 383.3 93.4 195.2 44

 45 FA653061105 Mutual funds 120.0 -46.5 -1062.7 406.0 222.9 247.9 298.7 361.3 -7.3 45

 46 FA653061113 Treasury bills -47.9 0.4 -22.2 19.4 -1.3 5.7 -11.0 -11.2 -16.7 46

 47 FA653061125 Other Treasury securities 167.9 -46.9 -1040.6 386.6 224.2 242.3 309.7 372.5 9.4 47

 48 FA553061103 Closed-end funds -0.5 -0.4 -3.0 0.8 0.5 0.3 0.6 0.3 0.1 48

 49 FA563061103 Exchange-traded funds 44.1 33.7 81.8 29.9 15.6 7.4 43.3 63.2 56.5 49

 50 FA403061105 Government-sponsored enterprises 52.0 78.9 8.9 255.1 103.9 -52.2 -74.8 -67.1 -17.7 50

 51 FA673061103 ABS issuers 12.6 -2.7 -4.0 -5.8 -4.1 3.1 -7.0 -4.6 5.2 51

 52 FA663061105 Brokers and dealers -47.2 -8.5 51.9 138.8 -146.1 -78.8 -375.7 54.2 -6.2 52

 53 FA733061103 Holding companies 21.7 3.1 -28.3 6.0 -0.1 34.8 104.1 4.9 -8.4 53

 54 FA503061303 Other financial business 0.0 95.7 0.0 382.5 0.1 0.1 -212.4 -34.0 -47.2 54

 55 FA263061105 Rest of the world 223.6 -77.7 -1262.2 480.0 170.8 300.6 516.7 492.2 293.7 55

 56 FA263061110 Treasury bills -30.6 311.3 5.8 1269.1 -71.0 41.1 -297.0 -150.2 33.7 56

 57 FA263061120 Other Treasury securities 254.2 -388.9 -1268.0 -789.1 241.8 259.5 813.7 642.4 260.1 57

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds.

 In the Financial Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as

 opposed to intragovernmental holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.

(3) Comprised primarily of nonmarketable Treasury securities.
Transactions

58 Z.1, December 9, 2021

F.211 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893161705 Net issues 316.9 657.2 1505.5 -222.5 532.8 812.9 698.1 600.9 565.0 1

 2 FA313161705 Budget agencies -1.7 -1.0 -0.1 -0.7 -3.5 0.2 -1.5 -0.0 -1.3 2

 3 FA403161705 Government-sponsored enterprises 204.9 635.9 1388.3 -177.4 505.6 827.2 665.9 483.5 514.8 3

 4 FA413065005 Agency- and GSE-backed mortgage pools 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 51.5 4

 5 FA893061705 Net purchases 316.9 657.2 1505.5 -222.5 532.8 812.9 698.1 600.9 565.0 5

 6 FA153061705 Household sector 123.7 -328.5 89.0 -1052.3 -178.5 -172.2 -474.3 207.4 -264.5 6

 7 FA103061703 Nonfinancial corporate business 2.4 4.4 35.2 29.3 -20.0 -26.9 -12.5 -6.8 9.9 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 2.4 -71.4 12.3 -199.8 -48.7 -49.4 -64.6 -2.8 -44.7 9

 10 FA713061705 Monetary authority -236.6 662.7 203.7 1909.0 303.8 234.4 592.6 527.6 702.5 10

 11 FA763061705 U.S.-chartered depository institutions 102.7 603.1 466.5 243.1 652.6 1050.3 940.8 439.8 445.8 11

 12 FA753061703 Foreign banking offices in U.S. 8.9 7.9 17.3 4.4 -10.7 20.5 11.5 -16.5 2.5 12

 13 FA743061703 Banks in U.S.-affiliated areas -0.3 7.1 -4.3 8.0 13.2 11.4 7.7 1.7 0.3 13

 14 FA473061705 Credit unions 3.9 75.9 3.3 118.7 104.0 77.6 230.5 -7.7 53.8 14

 15 FA513061705 Property-casualty insurance companies 6.2 3.0 -8.5 -13.1 35.0 -1.2 -9.8 -16.1 -1.1 15

 16 FA543061705 Life insurance companies -1.3 -20.2 -16.3 -40.3 5.1 -29.4 -37.1 -14.1 -0.9 16

 17 FA573061705 Private pension funds 11.6 29.9 56.8 -18.1 41.7 39.0 14.4 32.3 26.2 17

 18 FA343061705 Federal government retirement funds 1.3 1.3 -2.8 2.9 2.0 3.2 -0.6 -0.4 -0.3 18

 19 FA223061743 State and local govt. retirement funds 21.3 27.0 22.4 38.7 56.5 -9.8 12.8 36.4 -2.1 19

 20 FA633061700 Money market funds 110.2 -124.7 820.7 -421.0 -538.3 -360.3 -120.5 -294.4 -233.9 20

 21 FA653061703 Mutual funds 31.0 55.8 70.4 -481.6 476.9 157.5 72.9 -175.2 -3.4 21

 22 FA403061705 Government-sponsored enterprises 3.8 -29.3 -16.6 -0.5 -37.7 -62.5 -34.8 -27.1 -12.3 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 50.3 -129.3 -541.5 9.3 -0.5 15.3 -25.4 -46.0 -83.3 24

 25 FA663061705 Brokers and dealers 18.0 -61.1 103.5 -134.3 -98.3 -115.4 -284.7 30.2 20.8 25

 26 FA733061703 Holding companies 2.3 -9.3 -13.5 -7.7 -6.5 -9.2 -9.5 -7.2 -7.8 26

 27 FA263061705 Rest of the world 55.0 -47.0 208.0 -217.3 -218.7 40.1 -111.3 -60.2 -42.5 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by Ginnie Mae, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are

 considered officially to be part of the total borrowing of the federal government, which is shown in table F.106, line 48.
Transactions

Z.1, December 9, 2021 59

F.212 Municipal Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA383162005 Net issues 9.6 84.4 32.6 98.9 184.0 21.9 119.8 116.7 71.1 1

 2 FA213162005 State and local governments -2.3 90.6 29.7 110.1 174.0 48.8 110.5 102.4 55.4 2

 3 FA213162400 Short-term (1) 6.8 1.7 -6.0 8.8 4.7 -0.8 -12.1 -10.7 -30.6 3

 4 FA213162200 Long-term -9.1 89.0 35.7 101.3 169.3 49.6 122.6 113.1 86.0 4

 5 FA163162003 Nonprofit organizations (2) -3.3 -10.3 -11.7 -9.0 -5.4 -15.0 2.8 -1.0 -4.5 5

 6 FA103162000 Nonfinancial corporate business 15.2 4.0 14.6 -2.2 15.4 -11.9 6.5 15.3 20.1 6

 (industrial revenue bonds)

 7 FA893062005 Net purchases 9.6 84.4 32.6 98.9 184.0 21.9 119.8 116.7 71.1 7

 8 FA153062005 Household sector -65.9 -32.8 -4.9 -40.3 -3.0 -82.9 -107.3 -84.4 -116.4 8

 9 FA103062003 Nonfinancial corporate business 4.8 0.2 -0.2 0.4 0.6 0.1 0.6 0.3 0.4 9

 10 FA113062003 Nonfinancial noncorporate business 0.1 0.3 1.1 0.5 0.1 -0.4 1.0 -0.2 0.8 10

 11 FA213062003 State and local governments -0.9 1.5 0.1 3.9 1.4 0.5 4.1 2.1 4.8 11

 12 FA763062000 U.S.-chartered depository institutions -29.5 68.9 127.7 50.2 49.4 48.3 72.3 56.8 49.2 12

 13 FA753062003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA743062003 Banks in U.S.-affiliated areas -0.1 -1.1 0.1 -0.1 -0.6 -3.7 0.0 -0.0 -0.0 14

 15 FA473062005 Credit unions 0.4 4.4 3.6 3.8 4.8 5.3 3.6 2.0 1.6 15

 16 FA513062005 Property-casualty insurance companies -4.7 2.9 0.3 -0.1 3.9 7.7 -2.0 -2.0 0.1 16

 17 FA543062005 Life insurance companies -1.0 -2.9 -4.0 -3.8 -1.5 -2.3 -0.8 0.3 4.7 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 -1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA633062000 Money market funds -8.9 -21.4 6.0 16.4 -44.1 -63.8 -12.1 -30.5 -8.9 20

 21 FA653062003 Mutual funds 105.8 49.7 -88.0 52.8 147.8 86.2 123.8 133.3 111.9 21

 22 FA553062003 Closed-end funds 1.7 -0.3 0.5 -0.2 -0.0 -1.5 1.5 1.1 0.2 22

 23 FA563062003 Exchange-traded funds 10.5 14.2 3.8 15.9 15.0 22.0 21.0 24.3 20.0 23

 24 FA403062005 Government-sponsored enterprises -0.6 -0.5 -0.2 -0.7 -0.2 -1.0 -0.2 -0.3 -0.6 24

 25 FA663062003 Brokers and dealers -5.2 -9.9 -10.0 -21.1 6.7 -15.2 8.6 7.1 6.0 25

 26 FA503062003 Other financial business 0.0 6.3 0.0 4.8 1.8 18.5 -0.9 -5.1 -1.6 26

 27 FA263062003 Rest of the world 4.0 4.8 -3.3 16.5 2.0 3.9 6.8 11.9 -1.0 27

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (table F.101).
Transactions

60 Z.1, December 9, 2021

F.213 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893163005 Net issues 398.7 923.7 975.6 2192.9 -11.8 538.3 1013.2 717.2 940.4 1

 2 FA103163003 Nonfinancial corporate business 257.0 675.5 731.1 1748.1 241.9 -19.0 427.9 74.4 307.9 2

 3 FA793163005 Domestic financial sectors 113.6 252.6 1046.0 84.4 -270.2 150.4 -72.8 597.6 28.0 3

 4 FA763163005 U.S.-chartered depository institutions -18.7 30.5 46.5 19.3 16.6 39.4 22.6 -0.1 -15.2 4

 5 FA673163005 ABS issuers (net) (1) 74.8 36.9 230.7 -47.2 -20.3 -15.7 66.9 132.1 144.9 5

 6 FA613163005 Finance companies -42.7 1.5 103.1 2.3 -96.9 -2.4 -79.6 18.5 -137.6 6

 7 FA643163005 REITs 69.3 41.4 -37.8 142.0 33.7 27.8 26.2 99.7 22.5 7

 8 FA663163003 Brokers and dealers -10.1 10.0 332.0 -308.7 -57.2 73.8 49.8 32.7 40.5 8

 9 FA733163003 Holding companies 40.9 132.4 371.5 276.8 -146.2 27.5 -158.7 314.7 -27.1 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) 28.1 -4.4 -801.5 360.4 16.5 406.9 658.0 45.3 604.4 11

 12 FA893063005 Net purchases (3) 398.7 923.7 975.6 2192.9 -11.8 538.3 1013.2 717.2 940.4 12

 13 FA153063005 Household sector 40.0 30.6 678.3 465.6 -988.9 -32.6 -827.9 -263.6 583.2 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 -16.6 1.8 30.9 24.0 -50.3 2.5 -35.7 -25.4 13.2 15

 16 FA763063005 U.S.-chartered depository institutions 44.1 1.7 -135.2 134.9 131.6 -124.5 485.8 135.5 110.1 16

 17 FA763063605 MBS and other ABS 6.1 3.6 22.0 6.5 -8.4 -5.7 18.4 20.6 39.0 17

 18 FA763063095 Other 37.9 -1.9 -157.2 128.5 140.0 -118.8 467.4 114.9 71.1 18

 19 FA753063005 Foreign banking offices in U.S. -29.1 6.8 145.9 -85.4 -15.9 -17.4 8.3 -11.8 -1.6 19

 20 FA743063005 Banks in U.S.-affiliated areas 7.7 3.8 13.9 -4.0 -0.2 5.4 0.0 -9.6 8.5 20

 21 FA473063005 Credit unions 1.1 2.6 10.6 -1.7 1.7 -0.2 12.8 -4.7 3.6 21

 22 FA473063605 MBS and other ABS 1.2 2.5 10.2 -1.5 1.5 0.0 12.2 -4.8 3.4 22

 23 FA473063095 Other -0.0 0.1 0.4 -0.1 0.2 -0.2 0.6 0.1 0.2 23

 24 FA513063005 Property-casualty insurance companies 34.7 47.0 67.5 45.8 48.3 26.4 60.1 65.2 50.5 24

 25 FA513063605 MBS and other ABS 8.0 11.0 15.8 10.7 11.3 6.2 13.0 14.1 11.0 25

 26 FA513063095 Other 26.7 36.0 51.8 35.1 37.0 20.2 47.1 51.0 39.5 26

 27 FA543063005 Life insurance companies 135.1 195.1 280.2 110.2 251.5 138.4 136.4 66.2 295.8 27

 28 FA543063675 MBS and other ABS 23.4 31.8 42.2 27.8 39.9 17.5 28.5 13.6 42.5 28

 29 FA543063095 Other 111.6 163.3 238.0 82.4 211.6 120.9 107.9 52.6 253.3 29

 30 FA573063005 Private pension funds -13.8 -34.2 -34.8 -24.8 -60.5 -16.8 -24.7 -14.3 5.9 30

 31 FA343063005 Federal government retirement funds 1.0 0.9 -4.6 2.8 3.3 2.0 0.7 -0.5 -0.0 31

 32 FA223063045 State and local govt. retirement funds -128.4 34.4 87.5 57.0 -45.3 38.3 131.7 -33.7 -2.0 32

 33 FA633063005 Money market funds 11.0 -5.9 -19.0 -4.2 14.4 -14.8 -0.3 -1.9 -11.7 33

 34 FA653063005 Mutual funds 78.5 275.3 23.5 468.3 400.2 209.1 678.4 63.1 24.4 34

 35 FA553063003 Closed-end funds 2.0 1.5 6.1 -1.3 -0.6 1.9 8.2 6.6 1.6 35

 36 FA563063003 Exchange-traded funds 93.7 155.0 -42.4 295.1 194.8 172.5 108.3 163.9 121.3 36

 37 FA403063005 Government-sponsored enterprises -2.7 -2.6 -4.5 0.1 -2.9 -3.0 -2.0 -1.8 -0.5 37

 38 FA403063605 MBS and other ABS -2.3 -2.2 -4.1 0.5 -2.6 -2.7 -1.7 -1.3 -0.2 38

 39 FA403063095 Other -0.4 -0.3 -0.3 -0.3 -0.3 -0.4 -0.3 -0.4 -0.3 39

 40 FA613063003 Finance companies -0.5 9.7 7.4 16.4 5.9 9.2 1.3 24.7 28.5 40

 41 FA643063005 REITs -3.4 -25.1 -55.0 -28.7 -15.2 -1.7 -1.8 7.7 9.4 41

 42 FA663063005 Brokers and dealers -14.5 6.0 8.3 -1.6 58.4 -41.2 -29.7 -7.4 -0.6 42

 43 FA733063003 Holding companies 5.2 -2.5 2.0 10.6 -25.6 2.9 20.5 -11.3 -0.1 43

 44 FA503063005 Other financial business 0.2 12.4 23.4 8.5 -2.0 19.5 2.4 51.8 -2.5 44

 45 FA263063005 Rest of the world (4) 153.4 209.6 -114.5 705.1 85.3 162.5 280.3 518.7 -296.6 45

 46 FA263063603 MBS and other ABS -3.1 28.8 -35.2 -14.1 52.5 112.1 73.6 -10.2 -13.9 46

 47 FA263063095 Other 156.4 180.8 -79.4 719.2 32.8 50.4 206.6 528.9 -282.7 47

(1) Net issuance less net acquisition of corporate bonds held as assets.

(2) Net purchases of foreign issues by U.S. residents.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
Transactions

Z.1, December 9, 2021 61

F.214 Loans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FA894123005 Net change in total loans 1025.7 1491.3 5094.4 -532.4 307.3 1096.0 1879.3 1551.5 2379.0 1

 2 FA793068005 Depository institution loans n.e.c. 139.3 412.9 2606.2 122.1 -798.1 -278.6 112.8 -180.3 -180.1 2

 3 FA893169005 Other loans and advances 103.5 343.2 1774.0 -1004.7 160.9 442.6 737.9 170.4 1055.9 3

 4 FA893065005 Mortgages 597.6 747.2 687.7 585.0 870.1 845.9 876.7 1224.4 1275.8 4

 5 FA893065105 One-to-four-family residential 306.6 474.4 388.0 334.1 625.1 550.6 654.0 952.4 944.9 5

 6 FA893065405 Multifamily residential 135.1 132.6 86.8 134.9 124.6 183.9 117.9 103.9 110.6 6

 7 FA893065505 Commercial 133.8 116.4 189.2 92.3 96.5 87.5 100.5 163.8 215.9 7

 8 FA893065603 Farm 22.2 23.8 23.7 23.7 23.9 23.9 4.3 4.4 4.4 8

 9 FA153166000 Consumer credit 185.2 -12.0 26.4 -234.7 74.5 86.0 151.8 337.0 227.4 9

 By sector

 10 FA894123005 Net change in liabilities 1025.7 1491.3 5094.4 -532.4 307.3 1096.0 1879.3 1551.5 2379.0 10

 11 FA384123005 Domestic nonfinancial sectors 1000.6 1457.9 2941.1 1124.5 753.0 1012.8 1674.4 1433.2 2120.3 11

 12 FA154123005 Household sector 516.1 625.2 586.5 -7.1 906.0 1015.3 1123.8 1322.4 1072.0 12

 13 FA104123005 Nonfinancial corporate business 209.5 312.0 1713.8 183.5 -534.8 -114.4 304.1 -29.2 307.7 13

 14 FA114123005 Nonfinancial noncorporate business 273.9 519.7 640.4 947.4 380.0 110.8 245.9 140.0 18.3 14

 15 FA314123005 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 722.2 15

 16 FA213169203 State and local governments 1.0 1.0 0.4 0.7 1.8 1.1 0.7 0.0 0.0 16

 17 FA794123005 Domestic financial sectors -69.1 -29.9 1799.0 -1506.4 -425.2 13.0 131.8 10.0 105.3 17

 18 FA763169305 U.S.-chartered depository institutions -92.3 -232.6 667.1 -1094.8 -267.8 -234.9 44.6 -242.7 -43.7 18

 19 FA473169333 Credit unions -5.5 -9.0 42.4 -49.2 -11.2 -18.0 -11.9 -4.5 1.1 19

 20 FA513169333 Property-casualty insurance companies 0.2 6.4 9.8 1.2 19.8 -5.0 -2.5 -3.9 -3.6 20

 21 FA543169373 Life insurance companies 7.5 15.3 76.0 2.2 -18.4 1.3 33.3 -14.0 -5.7 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 5.9 24.8 27.7 25.9 32.6 12.9 -11.9 163.0 -28.2 23

 24 FA644123005 REITs -8.2 -6.4 144.0 -130.9 -47.2 8.4 -21.1 -12.2 -7.5 24

 25 FA664123005 Brokers and dealers 23.3 131.0 832.0 -321.2 -152.3 165.7 108.4 132.6 253.3 25

 26 FA504123005 Other financial business 0.0 40.7 0.0 60.6 19.3 82.8 -7.0 -8.2 -60.4 26

 27 FA264123005 Rest of the world 94.2 63.3 354.2 -150.4 -20.6 70.1 73.2 108.3 153.5 27

 28 FA894123005 Net change in assets 1025.7 1491.3 5094.4 -532.4 307.3 1096.0 1879.3 1551.5 2379.0 28

 29 FA384023005 Domestic nonfinancial sectors 128.5 381.6 691.6 448.9 159.8 226.0 162.8 168.7 274.4 29

 30 FA154023005 Household sector 32.6 116.4 628.5 -107.5 -149.6 94.3 44.2 57.8 194.9 30

 31 FA104023005 Nonfinancial corporate business 1.5 2.4 -5.8 -6.6 -18.6 40.5 -7.8 -7.5 -21.4 31

 32 FA114023005 Nonfinancial noncorporate business 2.7 4.3 6.5 8.3 2.7 -0.5 6.1 0.7 5.2 32

 33 FA314023005 Federal government 93.5 253.2 76.0 541.8 312.3 82.8 112.6 113.6 93.7 33

 34 FA213065005 State and local governments -1.9 5.3 -13.6 12.9 13.0 8.9 7.6 4.1 2.1 34

 35 FA794023005 Domestic financial sectors 799.7 1036.5 4234.5 -1007.5 87.6 831.5 1614.7 1299.7 1949.7 35

 36 FA713068005 Monetary authority 0.0 52.2 234.9 -111.1 3.0 82.1 26.0 109.8 -84.4 36

 37 FA764023005 U.S.-chartered depository institutions 359.6 286.6 1881.3 161.5 -509.0 -387.4 50.7 -8.6 222.4 37

 38 FA754023005 Foreign banking offices in U.S. 28.3 17.8 634.8 -252.5 -237.5 -73.5 -67.6 9.2 128.3 38

 39 FA744023003 Banks in U.S.-affiliated areas 3.5 0.9 7.6 8.5 -5.7 -6.8 -9.5 -3.7 -5.6 39

 40 FA474023000 Credit unions 68.5 60.4 81.1 78.5 64.4 17.6 57.7 85.0 99.3 40

 41 FA513065505 Property-casualty insurance companies 2.4 1.4 3.0 0.3 -0.7 3.1 0.2 4.9 3.7 41

 42 FA544023005 Life insurance companies 50.1 27.2 53.9 9.4 5.2 40.2 12.1 45.1 60.3 42

 43 FA573065005 Private pension funds -0.6 -5.4 -6.6 -5.0 -5.0 -4.7 -1.8 -4.0 -3.3 43

 44 FA313169003 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 722.2 44

 45 FA223065043 State and local govt. retirement funds -0.9 -0.6 1.8 -3.1 1.3 -2.5 -0.6 2.7 -0.0 45

 46 FA653069803 Mutual funds -33.7 -29.0 -120.0 -0.2 -2.8 7.0 61.3 65.8 41.3 46

 47 FA404023005 Government-sponsored enterprises 96.7 417.7 1056.3 -552.6 439.9 727.2 958.5 595.3 628.2 47

 48 FA413065005 Agency- and GSE-backed mortgage pools 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 51.5 48

 49 FA674023005 ABS issuers 50.4 32.8 211.7 -53.9 -4.1 -22.6 10.2 33.0 144.0 49

 50 FA614023005 Finance companies -4.5 -9.9 16.0 -100.2 35.8 8.7 45.9 62.9 -28.6 50

 51 FA643065005 REITs 18.9 -14.6 -92.3 -11.5 48.6 -3.4 26.2 63.9 82.2 51

 52 FA663069005 Brokers and dealers 32.5 165.2 86.2 -84.4 267.2 391.9 361.8 92.5 -92.3 52

 53 FA733069005 Holding companies 13.4 -11.1 44.3 -38.7 -57.7 8.0 58.3 33.7 -18.1 53

 54 FA503069005 Other financial business 1.4 22.5 23.1 -8.1 14.1 61.1 -8.6 -5.0 -1.4 54

 55 FA263069500 Rest of the world 97.5 73.3 168.3 26.3 59.8 38.6 101.8 83.1 154.9 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
Transactions

62 Z.1, December 9, 2021

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA793068005 Net change in liabilities 139.3 412.9 2606.2 122.1 -798.1 -278.6 112.8 -180.3 -180.1 1

 2 FA153168005 Household sector 11.1 20.4 135.0 -32.6 -44.7 23.8 -1.6 5.5 53.4 2

 3 FA103168005 Nonfinancial corporate business 30.9 77.6 1334.6 -2.8 -755.6 -265.9 30.7 -324.3 -137.9 3

 4 FA113168005 Nonfinancial noncorporate business 16.0 173.3 368.9 545.1 26.3 -247.0 0.3 -188.1 -236.8 4

 5 FA793168005 Domestic financial sectors -5.9 75.6 434.7 -266.8 -21.3 155.9 13.1 216.5 -48.1 5

 6 FA613168005 Finance companies 5.6 25.3 27.9 27.3 32.1 13.8 -10.3 162.9 -28.3 6

 7 FA643168005 REITs -9.2 -0.5 156.5 -114.0 -49.7 5.4 1.8 -5.5 -14.2 7

 8 FA663168005 Brokers and dealers -2.3 10.2 250.3 -240.7 -22.9 54.0 28.6 67.2 54.7 8

 9 FA713068505 Other financial business (2) 0.0 40.7 0.0 60.6 19.3 82.8 -7.0 -8.2 -60.4 9

 10 FA263168005 Rest of the world 87.1 66.0 332.9 -120.7 -2.9 54.6 70.3 110.1 189.4 10

 11 FA263168465 Foreign official institutions -0.9 -0.9 -1.3 -1.7 -1.3 0.8 3.3 -1.5 -0.1 11

 12 FA263168485 Foreign nonfinancial corporations -4.8 -8.8 135.7 -25.0 -80.7 -65.2 9.8 -8.8 23.6 12

 13 FA263168495 Foreign nondepository financial institutions 92.9 75.7 198.5 -94.0 79.1 119.0 57.1 120.3 165.8 13

 14 FA793068005 Net change in assets 139.3 412.9 2606.2 122.1 -798.1 -278.6 112.8 -180.3 -180.1 14

 15 FA713068005 Monetary authority (3) 0.0 52.2 234.9 -111.1 3.0 82.1 26.0 109.8 -84.4 15

 16 FA763068005 U.S.-chartered depository institutions 98.7 335.2 1734.9 454.3 -564.6 -283.8 139.0 -293.2 -210.2 16

 17 FA753068005 Foreign banking offices in U.S. 25.5 17.2 626.0 -250.1 -235.6 -71.3 -65.2 5.1 118.8 17

 18 FA743068005 Banks in U.S.-affiliated areas 5.0 0.6 8.0 6.6 -6.2 -6.2 -5.2 -1.4 -5.4 18

 19 FA473068005 Credit unions 10.1 7.7 2.4 22.4 5.2 0.7 18.2 -0.6 1.1 19

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to Federal Reserve funding, credit, and liquidity facility special purpose vehicles.

(3) Loans from Federal Reserve banks to the household, broker and dealer, finance companies, and other financial business sectors.
Transactions

Z.1, December 9, 2021 63

F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893169005 Net change in total other loans and advances 103.5 343.2 1774.0 -1004.7 160.9 442.6 737.9 170.4 1055.9 1

 2 FA313069205 U.S. government loans 9.9 188.2 -13.8 457.9 264.1 44.4 29.8 34.7 29.8 2

 3 FA153169203 Liab.: Household sector 4.5 10.2 4.2 17.6 12.2 6.9 4.0 9.4 6.0 3

 4 FA103169205 Nonfinancial corporate business 4.0 110.5 -20.0 280.8 160.8 20.5 13.7 19.2 15.5 4

 5 FA113169205 Nonfinancial noncorporate business 2.6 67.7 4.9 159.1 90.4 16.4 9.5 11.2 10.5 5

 6 FA213169203 State and local governments 1.0 1.0 0.4 0.7 1.8 1.1 0.7 0.0 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 -2.2 -1.3 -3.3 -0.3 -1.0 -0.5 1.9 -5.0 -2.2 10

 11 FA313169003 Federal government retirement funds’ loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 722.2 11

 12 FA313169003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 722.2 12

 13 FA263069500 Foreign loans to U.S. corporate business 97.5 73.3 168.3 26.3 59.8 38.6 101.8 83.1 154.9 13

 14 FA263069500 Liab.: Nonfinancial corporate business 97.5 73.3 168.3 26.3 59.8 38.6 101.8 83.1 154.9 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 13.4 -11.1 44.3 -38.7 -57.7 8.0 58.3 33.7 -18.1 19

 20 FA733069013 Liab.: Nonfinancial corporate business 4.2 -9.7 19.7 -9.3 -41.1 -8.1 57.3 30.4 15.6 20

 21 FA733069023 Rest of the world 9.2 -1.4 24.6 -29.4 -16.6 16.1 1.0 3.2 -33.7 21

 22 FA153169405 Policy loans (Household liability) -2.8 -0.5 4.3 -3.0 2.2 -5.7 -3.1 -3.0 0.0 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 -2.8 -0.5 4.3 -3.0 2.3 -5.7 -3.0 -3.0 0.1 24

 25 FA403069330 Federal Home Loan Banks advances (1) -90.6 -228.6 779.6 -1153.8 -282.6 -257.7 61.9 -265.1 -52.0 25

 26 FA763169335 Liab.: U.S.-chartered depository institutions -92.3 -232.6 667.1 -1094.8 -267.8 -234.9 44.6 -242.7 -43.7 26

 27 FA473169333 Credit unions -5.5 -9.0 42.4 -49.2 -11.2 -18.0 -11.9 -4.5 1.1 27

 28 FA513169333 Property-casualty insurance companies 0.2 6.4 9.8 1.2 19.8 -5.0 -2.5 -3.9 -3.6 28

 29 FA543169373 Life insurance companies 7.5 15.3 76.0 2.2 -18.4 1.3 33.3 -14.0 -5.7 29

 30 FA613169333 Finance companies 0.4 -0.5 -0.2 -1.4 0.5 -0.9 -1.6 0.0 0.0 30

 31 FA643169373 Real estate investment trusts -0.9 -8.2 -15.6 -11.7 -5.5 -0.2 0.0 -0.0 -0.1 31

 32 FA403069395 Govt.-sponsored enterprises loans (2) 7.4 13.5 5.3 13.0 15.0 20.6 2.1 -1.7 8.9 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) 1.1 1.8 1.1 -0.4 1.7 4.6 2.8 -1.5 -1.8 34

 35 FA113169305 Nonfinancial noncorporate business (FCS) 6.3 11.7 4.2 13.4 13.3 16.0 -0.7 -0.2 10.8 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 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24.5 37

 38 FA673069505 Liab.: Nonfinancial corporate business -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24.5 38

 39 FA613069505 Finance company loans to business -10.4 -16.4 51.5 -112.2 5.3 -10.4 8.6 27.6 -46.8 39

 40 FA103169535 Liab.: Nonfinancial corporate business -9.3 -21.8 46.4 -111.9 -8.9 -12.7 -22.7 -62.8 -24.4 40

 41 FA113169535 Nonfinancial noncorporate business -1.0 5.3 5.2 -0.3 14.2 2.3 31.2 90.4 -22.4 41

 42 FA663067003 Margin accounts at brokers and dealers 23.4 156.7 48.0 -72.9 262.2 389.3 365.3 86.1 -95.3 42

 43 FA663067003 Liab.: Household sector 23.4 156.7 48.0 -72.9 262.2 389.3 365.3 86.1 -95.3 43

 44 FA153067005 Cash accounts at brokers and dealers 25.6 120.9 581.7 -80.6 -129.4 111.7 79.8 65.3 198.6 44

 45 FA153067005 Asset: Household sector 25.6 120.9 581.7 -80.6 -129.4 111.7 79.8 65.3 198.6 45

 46 FA103169803 Loans to nonfinancial corporate business (3) 31.0 28.0 105.5 -41.1 1.9 45.8 40.5 114.1 132.2 46

 47 FA153069803 Asset: Household sector 13.9 -2.2 50.0 -22.3 -18.6 -17.8 -29.3 1.1 4.6 47

 48 FA543069873 Life insurance companies 1.8 2.2 14.9 -6.6 -2.1 2.5 5.8 6.6 6.6 48

 49 FA653069803 Mutual funds -33.7 -29.0 -120.0 -0.2 -2.8 7.0 61.3 65.8 41.3 49

 50 FA673069803 ABS issuers 38.4 46.0 99.2 8.6 26.9 49.2 9.0 36.2 76.3 50

 51 FA663069803 Brokers and dealers 9.1 8.5 38.1 -11.4 5.0 2.6 -3.5 6.4 2.9 51

 52 FA503069805 Other financial business 1.4 2.5 23.1 -9.1 -6.4 2.4 -2.8 -1.9 0.5 52

 53 FA503069075 Other financial business loans (4) 0.0 20.1 0.0 1.0 20.5 58.7 -5.7 -3.1 -1.9 53

 54 FA503069003 Liab.: Household sector (TALF II) 0.0 3.6 0.0 1.0 11.7 1.5 -5.7 -2.1 -0.7 54

 55 FA503069013 Nonfinancial corporate business (MSLF) 0.0 6.0 0.0 0.0 3.2 20.6 -0.1 -0.4 -0.4 55

 56 FA503069023 Nonfinancial noncorporate business (MSLF) 0.0 10.5 0.0 0.0 5.5 36.4 -0.0 -0.7 -0.8 56

 57 FA503069033 Nonprofit organizations (MSLF) 0.0 0.0 0.0 0.0 0.0 0.2 0.0 -0.0 -0.0 57

 58 FA163069005 Nonprofit organization loans -0.3 -0.6 -0.6 -0.6 -0.6 -0.6 -1.3 -1.3 -1.3 58

 59 FA153169055 Liab.: Household sector -1.1 -1.4 -1.4 -1.4 -1.4 -1.4 -2.0 -2.0 -2.0 59

 60 FA163069043 Nonfinancial noncorporate business 0.8 0.8 0.8 0.8 0.8 0.8 0.7 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, December 9, 2021

F.217 Total Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893065005 Net change in mortgages 597.6 747.2 687.7 585.0 870.1 845.9 876.7 1224.4 1275.8 1

 2 FA893065105 One-to-four-family residential 306.6 474.4 388.0 334.1 625.1 550.6 654.0 952.4 944.9 2

 3 FA893065405 Multifamily residential 135.1 132.6 86.8 134.9 124.6 183.9 117.9 103.9 110.6 3

 4 FA893065505 Commercial 133.8 116.4 189.2 92.3 96.5 87.5 100.5 163.8 215.9 4

 5 FA893065603 Farm 22.2 23.8 23.7 23.7 23.9 23.9 4.3 4.4 4.4 5

 6 FA893065005 Net borrowing 597.6 747.2 687.7 585.0 870.1 845.9 876.7 1224.4 1275.8 6

 7 FA153165005 Household sector 296.0 448.2 370.0 319.0 589.2 514.7 615.0 891.5 883.0 7

 8 FA143165005 Nonfinancial business 299.8 296.7 314.7 271.2 272.7 328.1 284.7 339.7 385.9 8

 9 FA103165005 Corporate 50.6 46.4 58.2 41.9 43.3 42.2 79.9 113.0 129.6 9

 10 FA113165005 Noncorporate 249.2 250.3 256.4 229.4 229.4 285.9 204.8 226.7 256.4 10

 11 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA123165005 REITs 1.9 2.3 3.1 -5.2 8.1 3.2 -23.0 -6.7 6.8 12

 13 FA893065005 Net change in assets 597.6 747.2 687.7 585.0 870.1 845.9 876.7 1224.4 1275.8 13

 14 FA153065005 Household sector -2.5 1.5 1.9 0.1 2.4 1.6 -3.9 -6.4 -5.9 14

 15 FA103065003 Nonfinancial corporate business 2.2 2.4 2.3 2.3 2.4 2.4 2.4 2.5 2.5 15

 16 FA113065005 Nonfinancial noncorporate business 2.7 4.3 6.5 8.3 2.7 -0.5 6.1 0.7 5.2 16

 17 FA313065005 Federal government 0.6 3.3 6.1 5.6 -4.0 5.7 4.4 4.9 8.2 17

 18 FA313065015 Ginnie Mae -0.3 -0.2 -0.2 -0.2 -0.2 -0.3 -0.3 -0.3 -0.4 18

 19 FA313065075 Farmers Home Administration (FmHA) (2) 0.1 2.5 6.3 5.4 -5.5 3.7 2.7 1.6 3.8 19

 20 FA313065035 Federal Housing Administration (FHA) 0.9 1.1 0.0 0.4 1.8 2.3 1.9 3.6 4.7 20

 21 FA313065065 Federal Deposit Insurance Corporation -0.0 -0.0 0.0 -0.1 0.0 -0.0 0.0 0.0 0.0 21

 22 FA313065095 Other (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA213065005 State and local governments -1.9 5.3 -13.6 12.9 13.0 8.9 7.6 4.1 2.1 23

 24 FA703065005 Private depository institutions 214.7 88.0 256.7 84.1 108.6 -97.2 -89.5 136.5 362.3 24

 25 FA763065005 U.S.-chartered depository institutions 171.8 41.5 177.5 30.6 66.1 -108.3 -111.2 77.0 299.3 25

 26 FA753065005 Foreign banking offices in U.S. 2.8 0.6 8.8 -2.4 -2.0 -2.2 -2.4 4.1 9.5 26

 27 FA743065003 Banks in U.S.-affiliated areas -1.5 0.3 -0.4 1.9 0.4 -0.6 -4.3 -2.3 -0.2 27

 28 FA473065100 Credit unions 41.6 45.6 70.7 53.9 44.1 13.9 28.4 57.6 53.8 28

 29 FA513065505 Property-casualty insurance companies 2.4 1.4 3.0 0.3 -0.7 3.1 0.2 4.9 3.7 29

 30 FA543065005 Life insurance companies 51.1 25.5 34.7 19.0 5.0 43.4 9.4 41.4 53.6 30

 31 FA573065005 Private pension funds -0.6 -5.4 -6.6 -5.0 -5.0 -4.7 -1.8 -4.0 -3.3 31

 32 FA223065043 State and local govt. retirement funds -0.9 -0.6 1.8 -3.1 1.3 -2.5 -0.6 2.7 -0.0 32

 33 FA403065005 Government-sponsored enterprises 180.0 632.9 271.4 588.2 707.5 964.3 894.5 862.1 671.3 33

 34 FA403065015 Fannie Mae 77.5 290.4 133.9 372.5 273.7 381.4 354.8 452.0 170.5 34

 35 FA403065025 Freddie Mac 85.1 335.3 117.7 203.9 438.4 581.4 536.6 400.9 489.3 35

 36 FA403065045 Farm Credit System 6.0 14.9 6.8 15.8 15.5 21.7 12.9 18.7 14.0 36

 37 FA403065035 FHLB 9.9 -9.7 11.4 -6.7 -21.6 -21.8 -10.0 -11.4 -3.7 37

 38 FA403065653 Farmer Mac 1.4 1.9 1.6 2.7 1.5 1.7 0.3 1.8 1.1 38

 39 FA413065005 Agency- and GSE-backed mortgage pools 113.8 22.3 117.3 -44.4 30.7 -14.5 33.7 117.5 51.5 39

 40 FA413065015 Ginnie Mae 75.3 -14.2 107.2 -48.5 -43.9 -71.5 -12.1 73.9 44.3 40

 41 FA413065025 Freddie Mac 39.9 37.7 12.7 5.9 74.6 57.7 46.5 44.3 8.0 41

 42 FA413065045 Fannie Mae -1.1 -1.1 -2.4 -1.8 0.4 -0.5 -0.4 -0.8 -0.8 42

 43 FA413065653 Farmer Mac -0.4 -0.2 -0.2 -0.1 -0.3 -0.2 -0.4 0.1 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 14.8 -11.9 114.6 -60.7 -27.8 -73.9 2.6 -2.8 46.2 45

 46 FA613065000 Finance companies 2.5 -7.2 -16.2 -10.9 -14.6 13.1 -14.5 -3.6 -3.8 46

 47 FA643065005 REITs 18.9 -14.6 -92.3 -11.5 48.6 -3.4 26.2 63.9 82.2 47

(1) Sum of one-to-four-family residential mortgages (table L.218), multifamily residential mortgages (table L.219), commercial mortgages (table L.220), and farm mortgages (table L.221).

(2) FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting changes by

 the Farmers Home Administration.

(3) Other includes Department of Veterans Affairs, Federal Financing Bank, Public Housing Administration, and Resolution Trust Corporation.
Transactions

Z.1, December 9, 2021 65

F.218 One-to-four-family Residential Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893065105 Net borrowing 306.6 474.4 388.0 334.1 625.1 550.6 654.0 952.4 944.9 1

 2 FA153165105 Household sector 293.1 446.8 368.5 317.5 587.8 513.2 613.8 890.3 881.9 2

 3 FA103165105 Nonfinancial corporate business 0.2 -0.5 1.3 -0.9 -1.5 -0.9 0.6 3.0 3.9 3

 4 FA113165105 Nonfinancial noncorporate business 13.3 28.2 18.2 17.4 38.7 38.3 39.5 59.0 59.0 4

 5 FA893065105 Net change in assets 306.6 474.4 388.0 334.1 625.1 550.6 654.0 952.4 944.9 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 1.3 1.4 1.4 1.4 1.4 1.4 1.5 1.5 1.5 7

 8 FA113065103 Nonfinancial noncorporate business 1.0 1.6 2.4 3.0 1.0 -0.2 2.2 0.3 1.9 8

 9 FA313065105 Federal government 0.0 1.2 1.0 0.2 1.9 1.7 0.9 3.5 3.6 9

 10 FA213065103 State and local governments -0.9 2.1 -6.9 3.7 7.0 4.8 2.7 2.1 -0.1 10

 11 FA763065105 U.S.-chartered depository institutions 54.4 -55.4 40.0 -81.2 -15.2 -165.1 -151.3 -47.0 163.5 11

 12 FA753065103 Foreign banking offices in U.S. -0.2 -0.2 -0.3 0.4 -0.6 -0.3 -0.7 0.0 0.8 12

 13 FA743065103 Banks in U.S.-affiliated areas -0.9 0.3 -0.7 1.5 1.4 -0.9 -2.6 -1.8 -1.4 13

 14 FA473065100 Credit unions 41.6 45.6 70.7 53.9 44.1 13.9 28.4 57.6 53.8 14

 15 FA543065105 Life insurance companies 6.3 0.7 1.5 -0.2 -1.1 2.7 1.5 3.0 4.4 15

 16 FA573065103 Private pension funds -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 FA223065143 State and local govt. retirement funds -0.3 -0.2 0.7 -1.1 0.5 -0.9 -0.2 1.0 -0.0 17

 18 FA403065105 Government-sponsored enterprises 135.2 560.3 236.3 489.0 671.4 844.3 862.8 867.7 630.4 18

 19 FA413065105 Agency- and GSE-backed mortgage pools 76.0 -15.8 106.0 -54.8 -42.1 -72.4 -28.7 67.3 32.6 19

 20 FA673065105 ABS issuers -5.1 -31.0 43.9 -42.9 -42.9 -82.0 -57.2 -21.6 10.7 20

 21 FA613065105 Finance companies -1.7 -8.2 -15.6 -14.9 -14.0 11.5 -13.0 -1.0 -0.9 21

 22 FA643065105 REITs 3.3 -24.3 -88.7 -20.3 16.0 -4.3 11.2 23.6 47.7 22

 Memo:

 23 FV893065153 Charge-offs (2) 15.7 8.8 2.9 2.0 2.3 1.6 1.2 1.1 0.9 23

 24 FA893065125 Home equity loans included above (3) -30.5 -58.4 -22.4 -76.8 -60.8 -73.7 -81.0 -40.1 -31.6 24

 25 FA763065125 U.S.-chartered depository institutions -35.2 -48.0 -18.0 -61.2 -52.4 -60.6 -64.9 -39.5 -35.6 25

 26 FA753065203 Foreign banking offices in U.S. 0.1 -0.2 -0.2 0.1 -0.3 -0.5 -0.0 -0.1 -0.0 26

 27 FA473065125 Credit unions 3.5 -7.0 -1.3 -10.8 -3.8 -12.1 -13.2 2.2 7.3 27

 28 FA673065123 ABS issuers 1.5 -1.5 -1.5 -1.4 -1.4 -1.8 -2.1 -2.0 -2.9 28

 29 FA613065123 Finance companies -0.3 -1.7 -1.4 -3.6 -3.0 1.4 -0.9 -0.7 -0.4 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 135.1 132.6 86.8 134.9 124.6 183.9 117.9 103.9 110.6 1

 2 FA103165405 Nonfinancial corporate business 6.8 6.6 4.2 6.7 6.4 9.0 5.9 5.3 5.5 2

 3 FA113165405 Nonfinancial noncorporate business 129.4 125.0 80.1 126.8 121.5 171.6 111.5 100.0 104.3 3

 4 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA123165403 REITs -1.1 1.0 2.5 1.4 -3.3 3.3 0.5 -1.4 0.8 5

 6 FA893065405 Net change in assets 135.1 132.6 86.8 134.9 124.6 183.9 117.9 103.9 110.6 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 0.9 1.5 2.2 2.8 0.9 -0.2 2.1 0.2 1.8 9

 10 FA313065405 Federal government -0.3 -0.5 -0.9 -0.2 -0.6 -0.3 0.1 -0.1 -0.2 10

 11 FA213065403 State and local governments -0.8 2.6 -5.5 6.3 5.6 4.0 2.7 1.6 0.2 11

 12 FA763065403 U.S.-chartered depository institutions 29.7 24.7 44.5 28.6 22.0 3.9 6.2 40.7 24.8 12

 13 FA753065403 Foreign banking offices in U.S. 1.9 2.6 4.8 1.3 2.0 2.4 0.1 1.7 -0.5 13

 14 FA543065405 Life insurance companies 25.2 7.7 8.7 5.6 2.7 13.7 5.3 10.1 15.0 14

 15 FA573065403 Private pension funds -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 15

 16 FA223065443 State and local govt. retirement funds -0.3 -0.2 0.6 -0.9 0.4 -0.8 -0.2 0.8 -0.0 16

 17 FA403065405 Government-sponsored enterprises 31.2 55.4 18.3 81.3 19.2 102.9 29.4 -9.5 37.7 17

 18 FA413065405 Agency- and GSE-backed mortgage pools 38.1 38.3 11.5 10.5 73.0 58.0 62.8 50.1 18.8 18

 19 FA673065405 ABS issuers 2.5 5.0 26.7 0.8 -4.1 -3.5 5.8 2.0 8.6 19

 20 FA613065403 Finance companies -0.2 -0.2 -0.2 -0.2 -0.3 -0.2 -0.2 -0.2 -0.2 20

 21 FA643065405 REITs 7.4 -4.1 -23.5 -0.8 3.9 4.1 4.2 6.7 5.0 21
Transactions

66 Z.1, December 9, 2021

F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893065505 Net borrowing 133.8 116.4 189.2 92.3 96.5 87.5 100.5 163.8 215.9 1

 2 FA163165505 Nonprofit organizations (1) 2.9 1.4 1.4 1.4 1.4 1.4 1.1 1.1 1.1 2

 3 FA103165505 Nonfinancial corporate business 37.5 33.6 46.6 29.5 31.5 26.7 71.1 103.5 118.4 3

 4 FA113165505 Nonfinancial noncorporate business 90.4 80.0 140.6 68.0 52.1 59.5 51.8 64.5 90.4 4

 5 FA123165503 REITs 3.0 1.3 0.5 -6.6 11.4 -0.1 -23.5 -5.3 6.1 5

 6 FA893065505 Net change in assets 133.8 116.4 189.2 92.3 96.5 87.5 100.5 163.8 215.9 6

 7 FA153065505 Household sector 0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.1 0.1 7

 8 FA103065503 Nonfinancial corporate business 0.8 0.9 0.9 0.9 0.9 0.9 0.9 1.0 1.0 8

 9 FA113065503 Nonfinancial noncorporate business 0.7 1.2 1.8 2.3 0.7 -0.1 1.7 0.2 1.4 9

 10 FA313065505 Federal government -0.1 1.3 4.8 4.0 -6.6 2.9 2.4 0.0 3.5 10

 11 FA213065503 State and local governments -0.2 0.4 -1.1 2.5 0.3 -0.0 2.1 0.4 2.1 11

 12 FA763065503 U.S.-chartered depository institutions 82.6 73.2 94.1 84.3 60.3 54.0 32.4 81.9 109.5 12

 13 FA753065503 Foreign banking offices in U.S. 1.0 -1.8 4.3 -4.1 -3.0 -4.3 -1.6 2.5 8.6 13

 14 FA743065505 Banks in U.S.-affiliated areas -0.6 0.0 0.3 0.4 -0.9 0.3 -1.7 -0.5 1.2 14

 15 FA513065505 Property-casualty insurance companies 2.4 1.4 3.0 0.3 -0.7 3.1 0.2 4.9 3.7 15

 16 FA543065505 Life insurance companies 17.6 15.7 23.1 12.3 1.9 25.7 2.3 28.0 33.9 16

 17 FA573065505 Private pension funds -0.2 -5.0 -6.2 -4.6 -4.6 -4.3 -1.4 -3.6 -2.9 17

 18 FA223065545 State and local govt. retirement funds -0.3 -0.2 0.6 -1.0 0.4 -0.9 -0.2 0.9 -0.0 18

 19 FA413065505 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA673065505 ABS issuers 17.4 14.0 44.1 -18.7 19.3 11.5 54.0 16.8 27.0 20

 21 FA613065503 Finance companies 4.3 1.3 -0.4 4.2 -0.3 1.8 -1.3 -2.4 -2.7 21

 22 FA643065505 REITs 8.3 13.8 20.0 9.6 28.7 -3.2 10.7 33.6 29.5 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 22.2 23.8 23.7 23.7 23.9 23.9 4.3 4.4 4.4 1

 2 FA183165605 Nonfinancial corporate business 6.1 6.7 6.1 6.6 6.8 7.4 2.3 1.2 1.8 2

 3 FA233165605 Nonfinancial noncorporate business 16.1 17.1 17.5 17.1 17.1 16.6 2.0 3.2 2.7 3

 4 FA893065603 Net change in assets 22.2 23.8 23.7 23.7 23.9 23.9 4.3 4.4 4.4 4

 5 FA153065605 Household sector 0.9 5.0 5.4 3.5 5.9 5.1 -0.4 -3.0 -2.5 5

 6 FA113065603 Nonfinancial noncorporate business 0.1 0.1 0.1 0.2 0.1 -0.0 0.1 0.0 0.1 6

 7 FA313065605 Federal government 1.0 1.4 1.2 1.6 1.3 1.4 1.0 1.6 1.2 7

 8 FA213065603 State and local governments -0.0 0.2 -0.1 0.4 0.1 0.1 0.1 0.1 0.0 8

 9 FA763065633 U.S.-chartered depository institutions 5.1 -1.1 -1.1 -1.1 -1.1 -1.1 1.4 1.5 1.5 9

 10 FA753065603 Foreign banking offices in U.S. 0.0 -0.1 0.1 -0.1 -0.4 0.1 -0.2 -0.1 0.5 10

 11 FA543065633 Life insurance companies 1.9 1.4 1.4 1.4 1.4 1.4 0.3 0.3 0.3 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 13.6 17.2 16.8 17.9 16.9 17.1 2.4 3.9 3.2 13

 14 FA413065605 Agency- and GSE-backed mortgage pools -0.4 -0.2 -0.2 -0.1 -0.3 -0.2 -0.4 0.1 0.1 14

(1) Excludes mortgages on farm houses.
Transactions

Z.1, December 9, 2021 67

F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA153166000 Net change in liabilities (Households) 185.2 -12.0 26.4 -234.7 74.5 86.0 151.8 337.0 227.4 1

 2 FA153166000 Net change in assets 185.2 -12.0 26.4 -234.7 74.5 86.0 151.8 337.0 227.4 2

 3 FA163066223 Nonprofit organizations (1) -4.0 -3.1 -4.6 -4.0 -3.4 -0.6 -1.1 -1.0 -1.1 3

 4 FA103066005 Nonfinancial corporate business -0.7 0.0 -8.1 -9.0 -21.0 38.1 -10.2 -10.0 -24.0 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) 83.0 61.7 83.7 78.4 52.2 32.7 78.5 74.0 55.6 6

 7 FA763066000 U.S.-chartered depository institutions 89.0 -90.1 -31.2 -323.4 -10.4 4.7 22.9 207.5 133.4 7

 8 FA473066000 Credit unions 16.8 7.1 8.0 2.2 15.1 3.0 11.2 28.0 44.5 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 -2.4 -1.2 -2.2 -1.8 -3.2 2.2 -1.3 -0.4 -3.0 10

 11 FA613066005 Finance companies 3.4 13.7 -19.2 22.8 45.1 6.0 51.9 38.8 22.0 11

 Memo:

 12 FA153166100 Credit card loans (3) 38.1 -122.1 -77.7 -334.1 -40.6 -36.0 -32.8 102.8 75.0 12

 13 FA153166400 Auto loans 44.5 40.3 23.7 38.8 62.2 36.5 89.9 122.8 80.2 13

 14 FA153166220 Student loans (4) 75.8 56.2 55.0 81.5 50.9 37.5 42.8 67.6 43.9 14

 15 FA153166205 Other consumer credit (5) 26.6 13.6 25.4 -21.0 2.0 48.0 52.0 43.8 28.2 15

(1) Student loans originated under the Federal Family Education Loan Program. Assets of the households and nonprofit organizations sector (table F.101).

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
Transactions

68 Z.1, December 9, 2021

F.223 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893064105 Net issues -411.7 572.0 931.9 191.4 875.5 289.3 1237.7 864.6 197.5 1

 2 FA103164103 Nonfinancial corporate business -458.1 -168.9 -384.9 -57.9 41.9 -274.8 -115.7 -526.5 -908.8 2

 3 FA793164105 Domestic financial sectors 209.7 499.2 280.8 627.5 465.5 622.8 1050.2 1011.8 575.6 3

 4 FA763164103 U.S.-chartered depository institutions 1.4 1.9 -9.5 3.0 4.9 9.1 -1.4 6.4 15.3 4

 5 FA513164103 Property-casualty insurance companies -7.9 -3.5 -14.1 2.4 -1.2 -0.9 -2.4 -5.4 -12.6 5

 6 FA543164173 Life insurance companies -17.0 -15.2 -22.5 1.8 -8.2 -31.8 -23.4 -20.5 -29.7 6

 7 FA554090005 Closed-end funds 5.9 2.7 11.3 -0.7 -0.2 0.5 27.0 15.6 3.2 7

 8 FA564090005 Exchange-traded funds 322.6 500.9 371.4 616.7 454.2 561.3 1075.9 1076.4 719.4 8

 9 FA643164103 REITs 36.7 21.9 24.6 26.7 18.6 17.7 31.3 43.1 43.8 9

 10 FA403164105 Government-sponsored enterprises -4.2 -7.0 27.6 -38.2 -10.2 -7.2 -3.5 -1.7 -5.1 10

 11 FA663164103 Brokers and dealers 22.1 15.6 31.5 -21.7 0.7 51.9 4.0 1.8 -3.2 11

 12 FA733164103 Holding companies -149.8 -18.2 -139.4 37.5 6.9 22.2 -57.3 -103.9 -155.5 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) -163.4 241.8 1036.0 -378.2 368.1 -58.8 303.2 379.4 530.7 14

 15 FA893064105 Net purchases -411.7 572.0 931.9 191.4 875.5 289.3 1237.7 864.6 197.5 15

 16 FA153064105 Household sector 62.0 434.9 276.5 615.0 974.6 -126.5 742.2 949.2 53.0 16

 17 FA103064103 Nonfinancial corporate business 10.2 -127.0 -102.6 -123.0 -133.5 -149.1 -127.0 -127.0 -127.0 17

 18 FA313064105 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 18

 19 FA213064103 State and local governments -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 19

 20 FA713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA763064105 U.S.-chartered depository institutions 0.8 2.9 4.6 1.4 2.3 3.6 4.0 3.8 -2.4 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 -1.8 -22.3 7.3 -72.4 -39.8 15.9 1.3 7.0 0.7 23

 24 FA543064105 Life insurance companies 1.3 1.2 6.0 -14.6 -7.7 21.0 -13.7 -47.8 -27.9 24

 25 FA573064105 Private pension funds -168.8 -140.8 -173.5 -99.5 -123.8 -166.3 -55.5 -146.6 -140.3 25

 26 FA343064105 Federal government retirement funds -5.0 -24.1 -48.8 18.9 -23.4 -43.1 17.5 12.7 -17.0 26

 27 FA223064145 State and local govt. retirement funds -28.3 22.5 123.2 -151.7 176.5 -58.1 -145.8 -136.7 8.1 27

 28 FA653064100 Mutual funds -219.4 -481.6 -361.3 -330.1 -666.5 -568.3 -589.5 -204.2 -103.4 28

 29 FA553064103 Closed-end funds 2.6 1.9 7.7 0.0 0.0 -0.2 16.7 7.5 1.3 29

 30 FA563064100 Exchange-traded funds 165.9 254.3 282.0 180.8 172.9 381.5 922.8 804.7 539.3 30

 31 FA663064103 Brokers and dealers -22.4 6.8 53.3 18.2 37.7 -82.1 154.6 -111.7 -104.0 31

 32 FA503064105 Other financial business 0.0 8.8 0.0 31.9 2.6 0.6 -1.1 -29.8 -4.2 32

 33 FA263064105 Rest of the world (3) -205.4 637.9 860.9 119.8 507.1 1063.8 314.7 -113.2 124.9 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 208.0 -226.8 -1223.7 61.4 106.2 149.0 364.0 169.4 294.7 1

 2 FA653164205 Net purchases 208.0 -226.8 -1223.7 61.4 106.2 149.0 364.0 169.4 294.7 2

 3 FA153064205 Household sector 320.9 -59.4 -1036.8 229.1 309.9 260.1 595.1 389.3 258.3 3

 4 FA103064203 Nonfinancial corporate business 5.3 10.6 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 -2.1 -0.8 0.1 -2.9 -0.2 -0.1 0.0 0.0 0.0 6

 7 FA473064205 Credit unions 0.3 0.9 1.8 0.2 0.3 1.3 4.5 2.0 1.9 7

 8 FA513064205 Property-casualty insurance companies 0.1 0.8 1.7 1.0 5.2 -4.6 1.3 -5.8 -2.8 8

 9 FA543064205 Life insurance companies -86.7 -99.3 -153.5 -61.3 -97.7 -84.5 -112.5 -215.2 -121.4 9

 10 FA573064205 Private pension funds 21.9 -113.4 -183.5 -67.5 -99.9 -102.6 -6.5 -79.9 -41.1 10

 11 FA223064205 State and local govt. retirement funds 0.1 24.0 -32.7 5.8 -14.1 137.2 -183.7 21.4 0.6 11

 12 FA263064203 Rest of the world -53.0 8.5 167.5 -54.8 -9.0 -69.7 53.9 45.8 187.5 12

(1) Shares of open-end investment companies; excludes shares of money market funds and exchange-traded funds.
Transactions

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F.225 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893170005 Net change in trade payables 381.7 282.7 -95.7 -602.3 1029.8 799.2 777.0 760.1 714.3 1

 2 FA163170005 Nonprofit organizations (1) 6.9 6.7 6.7 6.7 6.7 6.7 6.8 6.8 6.8 2

 3 FA103170005 Nonfinancial corporate business 230.1 134.8 -207.3 -589.1 718.4 617.1 549.3 577.4 506.8 3

 4 FA113170005 Nonfinancial noncorporate business 42.9 -25.9 5.3 -149.3 46.6 -6.4 91.3 42.6 46.6 4

 5 FA313170005 Federal government 36.0 17.2 -36.4 -40.2 82.8 62.4 39.4 69.4 70.6 5

 6 FA213170003 State and local governments 48.6 48.4 49.1 46.8 48.2 49.5 50.9 51.9 53.1 6

 7 FA513170005 Property-casualty insurance companies 2.6 11.1 5.6 24.8 41.3 -27.4 8.7 6.8 15.0 7

 8 FA543170005 Life insurance companies 13.4 88.1 78.2 112.5 73.9 87.8 8.3 28.7 8.1 8

 9 FA663170003 Brokers and dealers -1.0 2.8 17.4 -9.3 -4.3 7.3 4.6 -15.1 6.6 9

 10 FA263170005 Rest of the world 2.2 -0.4 -14.3 -5.3 16.2 2.0 17.8 -8.5 0.7 10

 11 FA893070005 Net change in trade receivables 645.6 232.7 -202.1 -744.1 1103.6 773.3 806.8 889.5 834.2 11

 12 FA163070005 Nonprofit organizations (1) 7.6 7.6 7.6 7.6 7.6 7.6 6.9 6.9 6.9 12

 13 FA103070005 Nonfinancial corporate business 540.5 34.7 -367.6 -954.2 855.8 604.9 622.7 716.1 691.0 13

 14 FA113070003 Nonfinancial noncorporate business 47.7 47.1 45.7 54.5 44.9 43.1 55.3 40.6 40.4 14

 15 FA313070000 Federal government -1.9 11.3 0.8 25.1 1.8 17.7 30.2 0.5 7.4 15

 16 FA213070003 State and local governments 19.1 7.3 -27.1 -46.3 62.8 39.9 33.5 47.3 48.7 16

 17 FA513070005 Property-casualty insurance companies 6.6 18.1 33.4 47.3 48.2 -56.6 30.0 24.2 36.8 17

 18 FA543070005 Life insurance companies 6.5 22.5 19.8 28.7 18.9 22.5 1.4 14.8 -1.7 18

 19 FA673070003 ABS issuers 0.6 0.6 9.5 -5.9 -11.3 10.0 -3.8 8.4 -4.3 19

 20 FA263070005 Rest of the world 18.8 83.5 75.7 99.0 74.8 84.3 30.6 30.8 8.9 20

 21 FA903070005 Discrepancy -263.9 50.1 106.4 141.8 -73.8 25.9 -29.8 -129.4 -119.9 21

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

F.226 Life Insurance Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893140005 Net change in liabilities 34.4 100.7 201.7 15.3 86.4 99.4 -77.4 64.2 76.5 1

 2 FA313140003 Federal government 0.9 0.2 -0.6 -0.0 1.4 0.0 1.1 -3.4 3.7 2

 3 FA543140005 Life insurance companies 31.7 85.0 188.6 -4.5 72.0 83.9 -75.9 63.2 69.5 3

 4 FA263140005 Rest of the world 1.8 15.5 13.6 19.8 13.0 15.5 -2.7 4.4 3.3 4

 5 FA893140005 Net change in assets 34.4 100.7 201.7 15.3 86.4 99.4 -77.4 64.2 76.5 5

 6 FA153040005 Household sector 16.7 94.2 197.2 10.5 78.2 90.7 -81.3 27.6 53.0 6

 7 FA763040005 U.S.-chartered depository institutions 6.7 6.1 3.6 5.3 7.1 8.2 8.3 18.7 9.3 7

 8 FA543040005 Life insurance companies 6.7 5.6 4.9 7.2 4.7 5.6 -8.4 13.7 10.2 8

 9 FA733040005 Holding companies 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 9

 10 FA543141905 Rest of the world 0.3 -9.1 -8.0 -11.7 -7.7 -9.1 -0.0 0.1 0.1 10
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F.227 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893150005 Net change in liabilities 445.8 558.0 543.0 542.7 537.0 609.3 214.2 297.2 451.1 1

 2 FA543150005 Life insurance companies (1) 8.8 92.2 147.9 -39.0 82.1 177.8 -132.0 -103.9 80.1 2

 3 FA574190005 Private pension funds (2) 109.0 73.0 56.5 116.6 65.2 53.6 10.3 49.0 51.3 3

 4 FA344090005 Federal government retirement funds (3) 75.6 104.1 87.6 151.7 103.6 73.7 98.6 103.2 73.6 4

 5 FA224190005 State and local govt. retirement funds 249.4 241.9 209.2 253.7 247.0 257.6 235.4 240.5 239.7 5

 6 FA263150005 Rest of the world 3.1 46.9 41.9 59.6 39.3 46.6 1.8 8.4 6.5 6

 7 FA893150005 Net change in assets 445.8 558.0 543.0 542.7 537.0 609.3 214.2 297.2 451.1 7

 8 FA153050005 Households (4) 437.5 480.2 472.7 444.1 471.9 532.1 210.0 278.1 436.3 8

 9 FA543050005 Life insurance companies 7.7 91.4 82.3 116.0 76.6 90.8 4.1 18.9 14.6 9

 10 FA543151905 Rest of the world 0.6 -13.6 -12.0 -17.4 -11.4 -13.6 0.0 0.2 0.1 10

 Memo:

 11 FA893131573 Individual Retirement Accounts (IRAs): (5) 248.5 151.7 -37.1 261.5 116.9 265.3 93.1 331.7 ND 11

 12 FA763131573 U.S.-chartered depository institutions -13.7 124.2 190.6 141.9 -42.5 206.8 -167.4 92.2 ND 12

 13 FA473131573 Credit unions 3.5 2.9 3.9 3.4 3.3 0.9 1.8 -0.2 ND 13

 14 FA543131503 Life insurance companies 27.0 39.0 -68.0 75.2 48.1 100.6 -8.8 31.9 ND 14

 15 FA633131573 Money market funds 49.0 77.0 220.0 36.0 56.0 -4.0 -44.0 -52.0 ND 15

 16 FA653131573 Mutual funds 80.0 30.1 -320.7 148.4 53.5 239.0 196.4 165.4 ND 16

 17 FA153131575 Other self-directed accounts 102.8 -121.4 -62.9 -143.4 -1.5 -278.0 115.2 94.4 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 14.6 18.8 28.9 216.9 -210.9 40.2 -79.4 -132.2 -13.8 1

 businesses

 2 FA103178005 Nonfinancial corporate business -6.8 13.8 49.1 166.8 -192.5 31.9 -47.4 -90.1 -41.6 2

 3 FA113178003 Nonfinancial noncorporate business 8.4 13.1 20.1 25.6 8.2 -1.6 18.8 -7.8 -4.1 3

 4 FA763178003 U.S.-chartered depository institutions 14.5 -11.2 -66.6 9.5 9.6 2.7 -67.0 -7.6 26.9 4

 5 FA513178005 Property-casualty insurance companies -0.3 0.4 10.6 1.1 -14.5 4.6 6.6 -11.6 -3.2 5

 6 FA543178075 Life insurance companies 0.4 0.9 10.1 4.9 -14.3 3.0 4.9 -10.1 -0.3 6

 7 FA613178005 Finance companies -0.4 -0.5 0.3 0.6 -2.9 0.0 1.7 -4.4 4.1 7

 8 FA663178005 Brokers and dealers -1.4 2.2 5.3 8.5 -4.6 -0.5 3.2 -0.7 4.4 8

 9 FA893078005 Net change in business taxes receivable -10.7 -5.5 -50.1 323.2 -315.3 20.2 -39.2 -266.3 -159.2 9

 10 FA313078000 Federal government -20.3 -18.6 -67.5 300.2 -326.0 18.9 -54.7 -255.5 -158.0 10

 11 FA213078005 State and local governments 9.6 13.1 17.5 23.0 10.7 1.2 15.5 -10.8 -1.2 11

 12 FA903078005 Discrepancy 25.2 24.3 79.0 -106.3 104.4 20.0 -40.1 134.1 145.4 12

F.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA152090205 Total household investment 17.9 10.1 4.2 1.3 9.0 25.7 -30.5 30.2 21.2 1

 2 FA112090205 Nonfinancial noncorporate business 12.7 3.2 -1.1 -13.3 14.5 12.7 -44.3 13.5 14.6 2

 3 FA662090003 Brokers and dealers 5.2 6.9 5.3 14.6 -5.5 13.0 13.8 16.8 6.6 3
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F.230 Direct Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA263192005 U.S. direct investment abroad (1, 2) 58.0 264.8 37.2 533.0 196.2 292.8 321.5 473.9 362.6 1

 Equity:

 2 FA263192101 Liab.: Rest of the world (1) 156.7 330.9 186.0 470.9 319.0 347.7 307.7 496.3 303.5 2

 3 FA263192113 Equity (other than reinvested earnings) 17.7 134.8 135.0 360.9 40.4 2.8 56.1 123.0 -9.5 3

 4 FA263192125 Reinvested earnings 139.0 196.1 50.9 109.9 278.6 344.8 251.6 373.3 313.0 4

 5 FA263192193 Of which: Current-cost adjustment 29.4 29.9 29.7 29.8 30.0 30.0 30.3 30.5 30.7 5

 6 FA103092105 Asset: Nonfinancial corporate business 105.1 282.2 68.1 449.9 269.6 341.4 240.8 439.7 216.2 6

 7 FA763092100 U.S.-chartered depository institutions 11.0 4.8 9.5 9.1 6.0 -5.3 -2.4 21.5 16.6 7

 8 FA513092103 Property-casualty insurance companies 5.8 18.4 20.5 29.3 23.7 -0.1 21.8 7.0 16.4 8

 9 FA543092173 Life insurance companies -1.6 -0.7 4.9 -3.8 -4.5 0.4 -0.7 -2.9 -1.6 9

 10 FA613092103 Finance companies 14.7 13.1 55.8 -22.3 16.5 2.6 65.7 11.6 60.5 10

 11 FA663092103 Brokers and dealers 21.7 13.1 27.2 8.8 7.6 8.6 -17.5 19.3 -4.6 11

 Intercompany debt:

 12 FA263192305 Liab.: Rest of the world (1, 2) -98.7 -66.1 -148.8 62.1 -122.8 -54.8 13.8 -22.4 59.1 12

 13 FA263192313 U.S. parents’ claims -41.9 -54.5 -67.9 -238.8 104.5 -15.9 -9.5 65.5 15.8 13

 14 FA263092313 Less: U.S. parents’ liabilities 56.9 11.6 80.9 -300.9 227.3 38.9 -23.3 87.9 -43.3 14

 15 FA103092305 Asset: Nonfinancial corporate business -85.1 -55.8 -126.4 53.4 -104.7 -45.4 11.0 -18.0 50.3 15

 16 FA763092305 U.S.-chartered depository institutions -3.8 -2.7 -6.1 1.7 -2.9 -3.4 0.5 -1.4 1.5 16

 17 FA513092305 Property-casualty insurance companies -1.8 -1.6 -3.5 1.9 -3.1 -1.8 0.5 -0.6 1.8 17

 18 FA543092375 Life insurance companies -0.8 -0.8 -1.6 0.6 -1.5 -0.5 0.1 -0.3 0.6 18

 19 FA613092305 Finance companies -4.2 -2.9 -5.8 2.1 -5.5 -2.3 1.2 -1.1 3.0 19

 20 FA663092305 Brokers and dealers -3.0 -2.4 -5.5 2.3 -5.0 -1.5 0.4 -0.9 2.0 20

 21 FA263092001 Foreign direct investment in U.S. (1) 238.0 164.4 100.8 90.3 153.2 313.3 295.9 295.2 550.3 21

 Equity:

 22 FA103192105 Liab.: Nonfinancial corporate business 216.1 179.9 123.7 127.3 154.7 314.0 309.3 331.4 482.2 22

 23 FA115114103 Nonfinancial noncorporate business -0.7 1.4 0.1 2.7 0.5 2.5 -0.4 7.2 5.1 23

 24 FA753192103 Foreign banking offices in U.S. 3.0 7.6 1.7 2.1 11.0 15.5 -0.8 -29.6 -36.8 24

 25 FA513192103 Property-casualty insurance companies 7.5 -4.3 -6.1 -12.1 -0.4 1.3 -2.3 7.6 4.4 25

 26 FA543192173 Life insurance companies -5.1 3.5 3.7 2.6 -6.2 14.0 -12.7 10.4 -5.0 26

 27 FA613192103 Finance companies 14.8 8.2 6.9 5.1 10.9 10.0 10.2 6.6 6.7 27

 28 FA663192103 Brokers and dealers 49.3 23.6 -114.7 99.1 35.4 74.6 8.3 57.3 14.1 28

 29 FA733192103 Holding companies -22.5 -21.7 158.1 -109.9 -34.7 -100.2 -22.8 -51.0 10.6 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) 262.5 198.3 173.4 116.8 171.2 331.7 288.8 339.7 481.3 31

 32 FA263092113 Equity (other than reinvested earnings) 137.8 115.8 114.4 90.4 53.2 205.2 123.0 144.5 285.1 32

 33 FA263092125 Reinvested earnings 124.7 82.5 59.0 26.5 118.0 126.5 165.8 195.2 196.2 33

 34 FA263092193 Of which: Current-cost adjustment 12.9 13.6 13.4 13.5 13.6 13.7 14.3 14.5 14.9 34

 Intercompany debt:

 35 FA103192305 Liab.: Nonfinancial corporate business -5.3 -41.7 -59.8 -31.8 -16.1 -59.3 -14.4 -41.1 90.4 35

 36 FA115114305 Nonfinancial noncorporate business -0.2 -0.5 -1.1 -0.3 -0.6 -0.2 -0.1 -0.2 -0.3 36

 37 FA753192305 Foreign banking offices in U.S. -2.2 -1.6 -3.7 -2.0 -1.1 0.6 -0.4 -6.7 -5.7 37

 38 FA513192305 Property-casualty insurance companies -0.4 -0.8 -2.7 -2.6 -1.2 3.2 -0.4 -1.0 -2.1 38

 39 FA543192375 Life insurance companies 0.4 0.8 -1.4 -0.8 -1.9 7.4 -1.6 -0.8 -4.2 39

 40 FA613192305 Finance companies 0.3 -0.1 -0.6 -0.2 0.4 -0.0 1.0 -0.8 0.2 40

 41 FA663192305 Brokers and dealers 3.4 1.3 -8.3 6.9 1.3 5.2 0.5 1.2 30.2 41

 42 FA733192305 Holding companies -20.6 8.8 4.9 4.2 1.3 24.7 22.6 5.0 -39.3 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) -24.5 -33.9 -72.6 -26.6 -18.1 -18.4 7.2 -44.5 69.0 44

 45 FA263092323 U.S. affiliates’ liabilities -17.1 1.4 -75.4 -3.3 47.8 36.7 16.8 -47.7 81.3 45

 46 FA263192323 Less: U.S. affiliates’ claims 7.4 35.3 -2.8 23.3 65.9 55.0 9.6 -3.2 12.3 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, December 9, 2021

F.231 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893190005 Net change in liabilities 2173.9 1641.0 2602.2 843.3 1421.2 1697.4 2005.9 256.6 1145.0 1

 2 FA543077073 Household sector 1.5 0.1 10.2 -3.8 -1.7 -4.4 8.5 -3.3 -0.1 2

 3 FA103190005 Nonfinancial corporate business 1504.6 325.2 230.2 -22.5 474.1 619.1 422.6 41.8 187.5 3

 4 FA113193003 Nonfinancial noncorporate business 78.7 92.5 111.8 98.7 74.1 85.5 89.9 95.8 96.2 4

 5 FA313190005 Federal government -14.6 349.5 -47.4 564.9 913.8 -33.4 -370.5 -400.1 -148.5 5

 6 FA223073045 State and local governments 248.4 251.0 202.5 252.3 258.9 290.4 295.4 234.4 233.4 6

 7 FA713190005 Monetary authority -0.1 4.0 -106.4 -145.0 146.2 121.0 -110.6 -170.6 196.9 7

 8 FA763190005 U.S.-chartered depository institutions 182.3 -54.7 -93.3 -212.8 -160.2 247.6 201.4 111.2 68.4 8

 9 FA753190005 Foreign banking offices in U.S. -38.9 -11.2 162.5 -73.0 -69.8 -64.3 184.1 -66.9 34.9 9

 10 FA743193005 Banks in U.S.-affiliated areas -0.3 0.2 0.4 1.8 2.3 -3.6 -2.2 -1.2 -0.2 10

 11 FA473193005 Credit unions 1.2 3.8 30.7 6.7 -19.9 -2.2 28.5 -0.8 -14.4 11

 12 FA513190005 Property-casualty insurance companies 80.4 76.2 1.6 146.3 156.8 0.0 216.8 169.8 292.2 12

 13 FA543190005 Life insurance companies 81.7 131.6 451.8 5.1 -32.2 101.6 44.0 77.5 82.4 13

 14 FA403190005 Government-sponsored enterprises 2.4 5.9 21.4 -72.5 51.7 23.2 -42.2 -49.2 73.3 14

 15 FA613190005 Finance companies 4.9 17.0 69.4 23.3 -6.8 -18.1 61.3 -63.1 70.2 15

 16 FA643193005 REITs -7.2 12.3 -4.9 9.6 26.2 18.2 17.8 3.6 -10.4 16

 17 FA663190005 Brokers and dealers 64.6 57.1 -225.1 265.7 185.6 2.1 816.8 121.8 35.2 17

 18 FA733193005 Holding companies -7.3 40.2 -277.3 113.4 103.5 221.0 -10.4 55.9 -23.6 18

 19 FA503190005 Other financial business -14.4 353.4 685.8 339.1 202.8 186.1 125.8 83.8 -47.3 19

 20 FA263190005 Rest of the world 5.9 -13.1 1378.2 -453.9 -884.2 -92.4 29.0 16.1 18.9 20

 21 FA893090005 Net change in assets 2581.8 1796.6 3890.4 249.0 1841.3 1205.7 1920.4 1021.9 2186.9 21

 22 FA153090005 Household sector 41.8 81.3 30.5 100.4 164.4 29.8 69.0 52.7 129.1 22

 23 FA103090005 Nonfinancial corporate business 1469.3 299.5 181.0 -685.8 1572.1 130.8 733.3 -189.1 911.6 23

 24 FA113090005 Nonfinancial noncorporate business 195.2 258.7 118.8 364.3 442.7 108.8 24.0 65.3 -156.2 24

 25 FA213093003 State and local governments -58.7 14.1 -56.2 48.3 50.9 13.5 14.1 56.0 37.2 25

 26 FA313090005 Federal government 7.0 122.0 11.9 460.4 8.4 7.3 -235.7 -38.1 -45.6 26

 27 FA713090005 Monetary authority -2.2 25.0 1427.3 -498.7 -811.4 -17.0 -66.9 -5.2 0.1 27

 28 FA763090005 U.S.-chartered depository institutions 23.4 152.4 376.5 32.2 397.4 -196.3 360.0 134.5 185.2 28

 29 FA753093005 Foreign banking offices in U.S. 7.5 -6.3 88.8 -75.8 -21.2 -16.9 22.3 40.8 -26.6 29

 30 FA743093005 Banks in U.S.-affiliated areas -11.5 -5.1 -15.5 -10.1 4.8 0.5 30.2 1.7 -43.8 30

 31 FA473090005 Credit unions 5.7 32.6 29.2 71.7 -12.6 42.1 -58.0 71.2 -28.5 31

 32 FA513090005 Property-casualty insurance companies 16.2 29.3 -68.0 -53.4 43.5 194.9 -106.5 40.2 -53.5 32

 33 FA543090005 Life insurance companies 27.1 113.6 464.6 -89.6 -51.6 131.2 50.6 112.0 -27.0 33

 34 FA573090005 Private pension funds 182.6 191.3 209.2 195.5 177.5 183.0 39.1 147.6 110.6 34

 35 FA343073045 Federal government retirement funds -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 220.2 35

 36 FA223090005 State and local govt. retirement funds 402.5 136.0 108.3 466.9 -14.4 -16.6 324.9 -26.0 251.8 36

 37 FA633093005 Money market funds 2.4 -0.0 6.9 -204.1 188.0 9.1 -71.6 -153.6 211.3 37

 38 FA653093005 Mutual funds 83.4 -61.3 287.8 -32.0 -422.7 -78.1 -325.1 -109.0 146.3 38

 39 FA563093003 Exchange-traded funds 8.4 43.7 46.2 94.9 55.9 -22.2 -19.6 20.4 -17.7 39

 40 FA403093005 Government-sponsored enterprises 32.1 62.3 91.3 79.5 65.8 12.8 38.3 -98.5 -4.4 40

 41 FA673090543 ABS issuers 6.2 20.9 23.4 17.7 25.7 16.8 42.8 59.6 35.9 41

 42 FA613090005 Finance companies -2.9 11.6 60.6 20.5 -24.1 -10.5 -35.0 -11.4 -59.3 42

 43 FA643090005 REITs 2.6 11.1 55.9 -33.4 -14.5 36.5 39.2 20.9 -1.1 43

 44 FA663090005 Brokers and dealers 86.9 212.9 425.1 121.8 6.4 298.3 749.4 552.1 250.6 44

 45 FA733090005 Holding companies 86.0 107.2 29.2 -16.1 54.9 360.8 142.4 513.3 114.4 45

 46 FA503090005 Other financial business 1.7 -34.8 5.7 -54.5 -44.5 -45.8 221.2 -89.7 36.7 46

 47 FA263076005 Rest of the world 2.0 -2.1 -1.1 -4.8 -7.9 5.2 5.7 4.5 9.8 47

 48 FA903090005 Discrepancy -407.9 -155.6 -1288.2 594.3 -420.1 491.7 85.5 -765.3 -1041.9 48
Transactions

Z.1, December 9, 2021 73

F.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Federal government equity in IBRD, etc.:

 1 FA313092803 Liab.: Rest of the world 1.4 1.8 5.2 0.0 0.9 1.3 4.7 0.0 3.3 1

 2 FA313092803 Asset: Federal government 1.4 1.8 5.2 0.0 0.9 1.3 4.7 0.0 3.3 2

 Federal Reserve Bank stock:

 3 FA713164003 Liab.: Monetary authority -0.6 0.7 1.1 0.2 1.5 -0.1 0.4 1.4 1.1 3

 4 FA713164003 Asset: U.S.-chartered depository institutions -0.6 0.7 1.1 0.2 1.5 -0.1 0.4 1.4 1.1 4

 Equity in govt.-sponsored enterprises:

 5 FA403192405 Liab.: Government-sponsored enterprises -3.7 -6.8 25.9 -35.4 -9.0 -8.7 -2.3 -1.3 -3.5 5

 6 FA103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.1 0.1 0.3 -0.3 -0.0 0.4 0.5 -0.1 -0.3 6

 7 FA113092405 Nonfinancial noncorporate (FCS) 0.3 0.2 -0.5 0.7 0.7 -0.0 0.1 2.2 0.8 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) -4.5 -9.6 22.1 -37.9 -12.2 -10.5 -5.6 -4.4 -4.6 9

 10 FA473092403 Credit unions (FHLB) -0.0 -0.1 1.4 -1.5 0.2 -0.3 -0.2 0.6 0.6 10

 11 FA513092403 Property-casualty insurance companies (FHLB) 0.0 0.5 0.5 0.3 1.5 -0.2 -0.1 -0.2 -0.2 11

 12 FA543092473 Life insurance companies (FHLB) 0.6 2.5 3.2 3.9 1.2 1.9 3.1 0.6 0.2 12

 13 FA613092403 Finance companies 0.0 -0.0 -0.0 -0.1 0.0 -0.1 -0.1 0.0 0.0 13

 14 FA643092473 Real estate investment trusts (FHLB) -0.0 -0.5 -1.0 -0.6 -0.3 -0.0 0.0 0.0 -0.0 14

 Holding company net transactions with affiliates:

 15 FA763194735 Liab.: U.S.-chartered depository institutions 93.5 72.6 -146.0 111.9 110.7 213.6 57.0 263.9 178.3 15

 16 FA513194733 Property-casualty insurance companies 0.8 -3.9 -0.6 -19.3 4.4 -0.2 2.9 3.1 -0.0 16

 17 FA543194733 Life insurance companies 1.1 -5.9 -23.7 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA613194733 Finance companies -4.8 -2.0 -3.4 -1.0 0.8 -4.2 -2.3 -3.0 53.1 18

 19 FA663194735 Brokers and dealers 21.5 81.4 264.2 -189.6 23.3 227.6 7.7 230.2 -97.8 19

 20 FA263194735 Rest of the world -1.2 -31.6 -46.3 69.1 -65.8 -83.5 70.2 11.1 -11.4 20

 21 FA733094705 Asset: Holding companies 110.9 110.5 44.2 -28.8 73.4 353.4 135.5 505.4 122.1 21

 NFC investment in finance company affiliates:

 22 FA103094105 Liab.: Finance companies -0.6 -3.0 -5.0 -14.0 -15.9 22.8 -0.4 -39.2 -64.3 22

 23 FA103094105 Asset: Nonfinancial corporate business -0.6 -3.0 -5.0 -14.0 -15.9 22.8 -0.4 -39.2 -64.3 23

 Other financial businesses’ investment in affiliates:

 24 FA753194503 Liab.: Foreign banking offices in U.S. -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 36.0 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 -3.5 -27.6 11.4 -43.7 -41.7 -36.3 169.2 -69.8 36.0 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 1.5 0.0 6.0 0.0 0.0 0.0 -6.0 0.0 30

 31 FA503194205 Other financial business 0.0 112.5 0.0 450.0 0.0 0.0 -248.9 -40.0 -53.7 31

 32 FA313094205 Asset: Federal government 0.0 114.0 0.0 456.0 0.0 0.0 -248.9 -46.0 -53.7 32

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
Transactions

74 Z.1, December 9, 2021

F.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Nonofficial foreign currencies:

 1 FA263191103 Liab.: Rest of the world -0.5 14.2 1415.8 -523.2 -812.0 -24.0 -61.5 -7.8 -1.0 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) -0.5 14.2 1415.8 -523.2 -812.0 -24.0 -61.5 -7.8 -1.0 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 2.8 4.9 18.6 3.0 -3.5 1.7 9.2 -8.3 -0.1 6

 7 FA403197033 Asset: U.S.-chartered depository institutions 2.8 4.9 18.6 3.0 -3.5 1.7 9.2 -8.3 -0.1 7

 Paycheck Protection Program subsidies payable:

 8 FA313172003 Liab.: Federal government 0.0 364.7 0.0 634.1 900.7 -75.9 -295.7 -284.1 -393.0 8

 9 FA163072003 Asset: Nonprofit organizations 0.0 35.5 0.0 57.2 81.2 3.6 -18.7 -19.5 -26.3 9

 10 FA103072005 Nonfinancial corporate business 0.0 210.0 0.0 369.9 525.5 -55.3 -174.4 -193.2 -67.7 10

 11 FA113072003 Nonfinancial noncorporate business 0.0 117.5 0.0 204.1 289.9 -23.8 -100.7 -68.6 -297.7 11

 12 FA613072003 Finance companies 0.0 1.6 0.0 2.9 4.1 -0.4 -1.9 -2.8 -1.3 12

 Funding agreements backing securities:

 13 FA673090543 Liab.: Life insurance companies (2) 6.2 20.9 23.4 17.7 25.7 16.8 42.8 59.6 35.9 13

 14 FA673090543 Asset: ABS issuers 6.2 20.9 23.4 17.7 25.7 16.8 42.8 59.6 35.9 14

 Deferred and unpaid life insurance premiums:

 15 FA543077073 Liab.: Household sector 1.5 0.1 10.2 -3.8 -1.7 -4.4 8.5 -3.3 -0.1 15

 16 FA543077073 Asset: Life insurance companies 1.5 0.1 10.2 -3.8 -1.7 -4.4 8.5 -3.3 -0.1 16

 Life insurance company reserves:

 17 FA543195005 Liab.: Life insurance companies 17.9 19.2 10.7 24.0 27.2 15.0 11.1 4.4 25.7 17

 18 FA263195105 Rest of the world 0.8 5.8 5.1 7.4 4.9 5.8 -0.1 0.5 0.9 18

 19 FA153095105 Asset: Household sector 15.4 16.2 8.0 20.2 24.7 12.0 11.4 3.3 23.4 19

 20 FA543095105 Life insurance companies 3.3 8.8 7.7 11.3 7.4 8.8 -0.4 1.7 3.3 20

 Policy payables:

 21 FA513176005 Liab.: Property-casualty insurance companies 44.0 55.2 27.8 77.1 121.5 -5.5 134.0 105.2 230.8 21

 22 FA263176005 Rest of the world 5.5 -3.3 -1.6 -7.3 -12.2 8.1 15.7 12.3 27.0 22

 23 FA153076005 Asset: Household sector 12.0 21.3 10.2 25.7 43.4 5.9 61.8 45.3 105.7 23

 24 FA103076005 Nonfinancial corporate business 15.0 22.0 11.2 30.2 46.6 -0.0 39.6 31.8 68.1 24

 25 FA113076005 Nonfinancial noncorporate business 10.0 7.0 4.0 10.0 13.0 0.8 11.6 11.7 20.8 25

 26 FA513076005 Property-casualty insurance companies 10.5 3.8 1.9 8.6 14.3 -9.5 31.0 24.4 53.4 26

 27 FA263076005 Rest of the world 2.0 -2.1 -1.1 -4.8 -7.9 5.2 5.7 4.5 9.8 27

 Unallocated insurance company contracts:

 28 FA593095005 Liab.: Life insurance companies 17.5 6.7 -11.5 17.9 8.5 11.7 -15.7 11.9 -2.6 28

 29 FA573095005 Asset: Private pension funds 3.0 -1.0 -5.2 9.4 -7.1 -1.3 -18.6 2.0 -6.3 29

 30 FA223095505 State and local government retirement funds 14.5 7.7 -6.3 8.5 15.7 13.0 2.9 9.9 3.6 30

 Pension fund contributions payable:

 31 FA573074005 Liab.: Nonfinancial corporate business -4.6 -10.0 -2.7 -11.3 -11.6 -14.2 -9.0 -14.6 -12.9 31

 32 FA573074005 Asset: Private pension funds -4.6 -10.0 -2.7 -11.3 -11.6 -14.2 -9.0 -14.6 -12.9 32

 Securities brokers and dealers payables:

 33 FA663170605 Liab.: Brokers and dealers 20.6 49.2 -26.8 102.8 98.6 22.1 644.1 43.8 180.1 33

 34 FA503170655 Other financial business 9.9 59.2 221.7 1.1 -126.5 140.5 86.8 343.2 253.3 34

 35 FA663070605 Asset: Brokers and dealers 25.2 115.5 200.5 114.6 -25.1 172.1 678.9 407.0 432.7 35

 36 FA503070655 Other financial business 5.2 -7.2 -5.6 -10.8 -2.8 -9.5 52.0 -19.9 0.7 36

 Retiree health care funds:

 37 FA313195105 Liab.: Federal government (3) 14.4 8.2 12.3 -2.7 15.1 8.3 14.5 23.6 26.3 37

 38 FA313195105 Asset: Household sector 14.4 8.2 12.3 -2.7 15.1 8.3 14.5 23.6 26.3 38

 Claims of pension fund on sponsor:

 39 FA573073005 Liab.: Nonfinancial corporate business 74.4 46.1 22.9 50.6 50.0 60.8 13.7 44.8 35.5 39

 40 FA343073045 Federal government -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 220.2 40

 41 FA223073045 State and local governments 248.4 251.0 202.5 252.3 258.9 290.4 295.4 234.4 233.4 41

 42 FA573073005 Asset: Private pension funds 74.4 46.1 22.9 50.6 50.0 60.8 13.7 44.8 35.5 42

 43 FA343073045 Federal government retirement funds -32.9 -19.6 -47.0 -66.9 7.8 27.5 -67.7 -150.1 220.2 43

 44 FA223073045 State and local govt. retirement funds 248.4 251.0 202.5 252.3 258.9 290.4 295.4 234.4 233.4 44

(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, December 9, 2021 75

F.234 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893193005 Net change in liabilities 1644.2 578.8 638.1 -63.7 860.4 880.4 1121.4 -509.7 244.6 1

 2 FA103193005 Nonfinancial corporate business 1434.8 289.1 210.0 -61.8 435.6 572.4 418.0 11.5 164.9 2

 3 FA113193003 Nonfinancial noncorporate business 78.7 92.5 111.8 98.7 74.1 85.5 89.9 95.8 96.2 3

 4 FA313193005 Federal government 3.9 -3.8 -12.7 0.4 -9.8 6.8 -21.6 10.6 -2.0 4

 5 FA713193005 Monetary authority 0.5 1.8 -107.4 -151.2 144.7 121.1 -111.0 -166.0 195.8 5

 6 FA763193005 U.S.-chartered depository institutions 88.7 -127.2 52.8 -324.7 -270.9 33.9 144.4 -152.7 -110.0 6

 7 FA753193005 Foreign banking offices in U.S. -35.4 16.4 151.1 -29.3 -28.1 -28.1 14.9 2.9 -1.0 7

 8 FA743193005 Banks in U.S.-affiliated areas -0.3 0.2 0.4 1.8 2.3 -3.6 -2.2 -1.2 -0.2 8

 9 FA473193005 Credit unions 1.2 3.8 30.7 6.7 -19.9 -2.2 28.5 -0.8 -14.4 9

 10 FA513193005 Property-casualty insurance companies 35.5 24.9 -25.6 88.4 30.9 5.8 79.9 61.5 61.5 10

 11 FA543193005 Life insurance companies 39.0 90.7 452.9 -54.5 -93.6 58.0 5.7 1.5 23.4 11

 12 FA403193005 Government-sponsored enterprises 3.2 7.8 -23.2 -40.1 64.1 30.3 -49.1 -39.6 76.8 12

 13 FA613193005 Finance companies 10.4 21.9 77.8 38.3 8.4 -36.7 64.0 -20.9 81.5 13

 14 FA643193005 REITs -7.2 12.3 -4.9 9.6 26.2 18.2 17.8 3.6 -10.4 14

 15 FA663193005 Brokers and dealers 22.5 -73.5 -462.5 352.5 63.6 -247.7 164.9 -152.2 -47.1 15

 16 FA733193005 Holding companies -7.3 40.2 -277.3 113.4 103.5 221.0 -10.4 55.9 -23.6 16

 17 FA503193005 Other financial business -24.2 181.8 464.1 -112.0 329.3 45.6 287.9 -219.5 -246.9 17

 18 FA893093005 Net change in assets 2052.1 734.4 1926.3 -658.0 1280.5 388.8 1035.9 255.6 1286.5 18

 19 FA103093005 Nonfinancial corporate business 1454.9 70.5 174.5 -1071.6 1015.9 162.9 868.0 11.6 975.9 19

 20 FA113093005 Nonfinancial noncorporate business 185.0 134.0 115.4 149.5 139.1 131.9 112.9 120.0 119.8 20

 21 FA313093003 Federal government 5.6 6.1 6.7 4.4 7.6 6.0 8.5 7.9 4.8 21

 22 FA213093003 State and local governments -58.7 14.1 -56.2 48.3 50.9 13.5 14.1 56.0 37.2 22

 23 FA713093005 Monetary authority -1.7 10.9 11.5 24.4 0.5 7.0 -5.4 2.5 1.1 23

 24 FA763093005 U.S.-chartered depository institutions 25.7 156.5 334.8 66.8 411.6 -187.4 356.0 145.8 188.8 24

 25 FA753093005 Foreign banking offices in U.S. 7.5 -6.3 88.8 -75.8 -21.2 -16.9 22.3 40.8 -26.6 25

 26 FA743093005 Banks in U.S.-affiliated areas -11.5 -5.1 -15.5 -10.1 4.8 0.5 30.2 1.7 -43.8 26

 27 FA473093005 Credit unions 5.7 32.7 27.8 73.2 -12.7 42.4 -57.8 70.6 -29.1 27

 28 FA513093005 Property-casualty insurance companies 5.7 24.9 -70.4 -62.3 27.7 204.5 -137.4 16.0 -106.7 28

 29 FA543093005 Life insurance companies 21.7 102.2 443.4 -100.9 -58.5 124.8 39.4 113.1 -30.4 29

 30 FA573093005 Private pension funds 109.8 156.2 194.2 146.8 146.2 137.7 53.0 115.3 94.3 30

 31 FA223093005 State and local govt. retirement funds 139.6 -122.7 -87.9 206.1 -289.0 -319.9 26.6 -270.3 14.8 31

 32 FA633093005 Money market funds 2.4 -0.0 6.9 -204.1 188.0 9.1 -71.6 -153.6 211.3 32

 33 FA653093005 Mutual funds 83.4 -61.3 287.8 -32.0 -422.7 -78.1 -325.1 -109.0 146.3 33

 34 FA563093003 Exchange-traded funds 8.4 43.7 46.2 94.9 55.9 -22.2 -19.6 20.4 -17.7 34

 35 FA403093005 Government-sponsored enterprises 32.1 62.3 91.3 79.5 65.8 12.8 38.3 -98.5 -4.4 35

 36 FA613093005 Finance companies -2.9 10.0 60.6 17.7 -28.2 -10.0 -32.9 -8.6 -58.0 36

 37 FA643093005 REITs 2.6 11.6 56.9 -32.8 -14.1 36.5 39.2 20.9 -1.1 37

 38 FA663093005 Brokers and dealers 61.6 97.4 224.6 7.2 31.5 126.2 70.4 145.2 -182.1 38

 39 FA733093005 Holding companies -24.9 -3.3 -15.0 12.7 -18.5 7.5 6.9 7.8 -7.7 39

 40 FA903090005 Discrepancy -407.9 -155.6 -1288.2 594.3 -420.1 491.7 85.5 -765.3 -1041.9 40
Transactions

76 Z.1, December 9, 2021

F.7 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA897005005 All sectors -888.2 241.1 -365.3 565.9 -333.2 1096.9 1070.8 121.4 -241.6 1

 2 FA157005005 Household sector -647.0 -56.5 -1240.3 -954.7 1783.5 185.5 1205.6 267.2 406.7 2

 3 FA107005005 Nonfinancial corporate business -478.7 130.8 -740.2 829.1 -662.0 1096.5 632.9 209.9 -764.8 3

 4 FA317005005 Federal government -32.3 33.6 677.2 927.3 -1408.1 -61.9 -194.2 -209.1 16.0 4

 5 FA217005005 State and local governments 42.0 23.2 -18.5 113.0 83.6 -85.3 54.0 50.9 3.9 5

 6 FA797005005 Domestic financial sectors 37.9 3.2 183.9 -6.5 -308.4 143.7 -879.6 -18.6 -500.0 6

 7 FA717005005 Monetary authority 8.6 2.0 8.3 -0.3 -2.7 2.6 -4.5 -3.4 -4.9 7

 8 FA767005005 U.S.-chartered depository institutions -50.4 -161.5 249.8 -357.5 -438.6 -99.8 -414.4 324.4 -267.3 8

 9 FA757005005 Foreign banking officed in U.S. 13.5 74.6 -9.4 262.9 -57.9 102.7 -57.2 -235.1 -192.3 9

 10 FA747005005 Banks in U.S.-affiliated areas 2.0 2.3 6.0 1.9 2.6 -1.4 -7.3 4.2 -1.8 10

 11 FA477005005 Credit unions -1.0 -9.1 10.3 -18.4 -16.8 -11.4 -17.0 14.6 -10.1 11

 12 FA517005005 Property-casualty insurance companies 62.2 24.0 -1.1 111.6 106.3 -120.8 181.1 51.3 140.0 12

 13 FA547005005 Life insurance companies -1.4 10.1 -130.0 12.9 9.8 147.9 -142.2 -84.5 -24.5 13

 14 FA657005005 Mutual funds 131.9 59.2 24.5 75.9 77.5 59.0 60.0 70.0 70.0 14

 15 FA407005005 Government-sponsored enterprises 8.2 45.2 38.6 -51.4 133.6 59.9 -234.5 -51.9 93.2 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 23.3 49.4 54.7 81.7 6.3 55.0 -26.6 82.6 -36.6 17

 18 FA647005005 REITs 6.2 -12.9 89.7 -59.6 -69.8 -11.9 -57.0 -26.6 -58.7 18

 19 FA667005005 Brokers and dealers 5.2 -41.1 -177.3 4.3 -31.7 40.1 -79.5 -8.3 -62.0 19

 20 FA737005005 Holding companies -170.6 -39.0 19.9 -70.8 -27.0 -78.2 -80.5 -156.0 -144.9 20

 21 FA267005005 Rest of the world 189.8 106.7 772.6 -342.2 178.1 -181.5 252.1 -178.8 596.6 21

F.8 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA907005005 All types -888.2 241.0 -365.3 565.9 -333.2 1096.8 1070.8 121.4 -241.6 1

 2 FA903012005 Treasury currency -0.8 -0.4 -0.4 -0.3 -0.6 -0.3 -0.3 -0.2 -1.3 2

 3 FA903091005 Foreign deposits -9.3 88.5 753.6 -628.8 178.4 50.8 123.1 -119.7 -102.0 3

 4 FA904010005 Net interbank transactions -10.1 10.4 271.6 -307.7 81.9 -4.1 359.7 -374.5 70.3 4

 5 FA902050005 Security repurchase agreements -285.9 58.9 -473.4 636.0 129.3 -56.5 147.2 884.9 275.7 5

 6 FA903020005 Mail floats -0.0 -0.5 -83.1 99.1 -97.7 79.7 -78.9 105.2 -120.4 6

 7 FA903023005 Federal government 0.5 -0.7 -83.3 98.3 -96.3 78.6 -80.2 105.7 -120.0 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 -0.5 0.2 0.2 0.8 -1.3 1.1 1.2 -0.5 -0.4 9

 10 FA903070005 Trade credit -263.9 50.1 106.4 141.8 -73.8 25.9 -29.8 -129.4 -119.9 10

 11 FA903078005 Taxes payable 25.2 24.3 79.0 -106.3 104.4 20.0 -40.1 134.1 145.4 11

 12 FA903090005 Miscellaneous -407.9 -155.6 -1288.2 594.3 -420.1 491.7 85.5 -765.3 -1041.9 12

 13 FA906000105 Nonfinancial 64.5 165.5 269.3 137.9 -235.1 489.8 504.3 386.3 652.3 13

 Nonfinancial components (sign reversed):

 14 FA087005005 Statistical discrepancy (NIPA) -69.7 -170.6 -274.5 -142.8 230.0 -495.0 -509.7 -391.7 -657.9 14

 15 FA156600075 Contr. for govt. soc. insur., U.S. affiliated areas 5.2 5.1 5.2 4.9 5.0 5.2 5.3 5.4 5.6 15
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L.100 Domestic Nonfinancial Sectors (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL384090005 Total financial assets 128367.7 144123.0 122049.9 131850.1 136460.5 144123.0 148139.9 153172.7 154257.5 1

 2 FL313011005 U.S. official reserve assets 97.8 111.7 96.4 102.2 106.5 111.7 107.0 108.1 216.8 2

 3 FL383091005 Foreign deposits 171.8 191.2 161.5 189.1 207.3 191.2 191.8 226.2 217.0 3

 4 FL383020005 Checkable deposits and currency 3397.5 7288.3 3933.1 5943.8 6238.4 7288.3 7121.0 7276.5 6852.4 4

 5 FL383030005 Time and savings deposits 11567.9 12257.9 12030.5 12647.2 12754.2 12257.9 12770.4 12581.9 12752.6 5

 6 FL383034005 Money market fund shares 2906.0 3379.9 3462.7 3682.6 3467.1 3379.9 3513.0 3539.1 3556.1 6

 7 FL382051005 Security repurchase agreements 176.9 222.7 188.8 206.6 209.2 222.7 216.2 232.2 232.1 7

 8 FL384022005 Debt securities 6815.9 6935.9 6806.2 6717.9 6514.6 6935.9 6231.3 6158.8 6421.8 8

 9 FL383069105 Open market paper 295.1 335.1 304.3 295.1 316.0 335.1 318.8 357.3 370.5 9

 10 FL383061105 Treasury securities 2707.8 3023.4 2458.7 2553.8 2637.1 3023.4 2781.2 2720.2 2941.8 10

 11 FL383061705 Agency- and GSE-backed securities 1245.7 823.4 1291.4 992.8 898.5 823.4 663.8 747.4 654.7 11

 12 FL383062005 Municipal securities 1978.3 2001.9 1955.6 1981.4 1989.7 2001.9 1962.2 1955.0 1895.5 12

 13 FL383063005 Corporate and foreign bonds 589.0 752.2 796.2 894.7 673.3 752.2 505.3 378.9 559.3 13

 14 FL384023005 Loans 3202.4 3583.9 3386.6 3486.7 3542.7 3583.9 3635.5 3665.6 3750.9 14

 15 FL383069005 Other loans and advances 1269.5 1575.7 1423.8 1512.4 1541.2 1575.7 1595.4 1620.4 1678.3 15

 16 FL383065005 Mortgages 550.6 567.3 551.4 558.6 562.7 567.3 571.4 572.8 575.8 16

 17 FL383066005 Consumer credit 1382.3 1440.9 1411.4 1415.7 1438.8 1440.9 1468.7 1472.3 1496.7 17

 18 LM383064105 Corporate equities 23554.3 28471.0 18455.1 22512.4 24769.9 28471.0 31000.5 33720.6 33548.2 18

 19 LM383064205 Mutual fund shares 10391.5 11564.1 8504.1 9851.1 10470.6 11564.1 12075.1 12804.3 12771.6 19

 20 FL383070005 Trade receivables 5547.7 5655.8 5458.2 5252.8 5490.9 5655.8 5842.3 6058.8 6251.4 20

 21 FL153040005 Life insurance reserves 1731.3 1867.0 1733.7 1776.1 1811.9 1867.0 1854.2 1886.5 1897.1 21

 22 FL153050005 Pension entitlements 27994.2 29798.3 26751.0 28039.8 28697.1 29798.3 30198.2 30942.0 31026.9 22

 23 FL383078005 Taxes payable 560.9 631.0 595.9 640.4 636.3 631.0 671.2 574.8 541.2 23

 24 LM152090205 Equity in noncorporate business 11970.2 12880.8 12097.4 12249.8 12487.6 12880.8 13170.5 13791.2 14427.4 24

 25 LM103092005 U.S. direct investment abroad 6365.2 6885.4 4851.1 5743.6 6040.0 6885.4 7279.3 7816.9 7792.4 25

 26 FL383090005 Miscellaneous assets 11916.3 12398.2 13537.8 12807.9 13016.0 12398.2 12262.4 11789.2 12001.7 26

 27 FL384190005 Total liabilities 78165.9 85741.4 80180.6 83531.3 84770.8 85741.4 86700.2 87398.1 88418.3 27

 28 LM313111303 U.S. official reserve assets 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 161.8 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 23.2 23.1 23.2 23.2 23.1 23.1 23.1 23.1 23.0 30

 31 FL384122005 Debt securities 28930.5 34209.2 29668.1 32900.8 33481.3 34209.2 34696.2 35084.1 35107.4 31

 32 FL103169100 Open market paper 194.5 132.2 243.1 166.1 122.2 132.2 144.0 132.0 122.4 32

 33 FL313161105 Treasury securities 19018.7 23600.9 19518.4 22370.7 22900.4 23600.9 23943.0 24301.5 24249.9 33

 34 FL313161705 Agency- and GSE-backed securities 21.2 20.2 21.2 21.0 20.2 20.2 19.8 19.8 19.5 34

 35 FL383162005 Municipal securities 3894.3 3978.7 3900.8 3921.5 3956.4 3978.7 4005.1 4027.9 4035.6 35

 36 FL103163003 Corporate and foreign bonds 5801.8 6477.3 5984.6 6421.6 6482.1 6477.3 6584.3 6602.9 6679.9 36

 37 FL384123005 Loans 25594.7 27048.4 26245.0 26530.8 26736.1 27048.4 27379.0 27739.3 28296.6 37

 38 FL383168005 Depository institution loans n.e.c. 2865.4 3136.7 3321.1 3446.8 3245.4 3136.7 3140.1 3009.8 2923.0 38

 39 FL383169005 Other loans and advances 2719.1 3172.8 2825.3 2885.7 3021.6 3172.8 3330.3 3418.2 3641.8 39

 40 FL383165005 Mortgages 15818.0 16554.1 15950.8 16101.0 16326.4 16554.1 16741.5 17051.7 17388.5 40

 41 FL153166000 Consumer credit 4192.2 4184.9 4147.8 4097.3 4142.7 4184.9 4167.2 4259.6 4343.3 41

 42 FL383170005 Trade payables 5398.6 5579.7 5313.7 5151.4 5411.7 5579.7 5725.8 5930.9 6136.5 42

 43 FL313140003 Life insurance reserves 52.2 52.4 52.0 52.0 52.4 52.4 52.7 51.8 52.7 43

 44 FL143178005 Taxes payable 423.9 450.9 454.3 489.5 445.6 450.9 456.6 419.3 410.1 44

 45 LM143192305 Foreign direct investment: intercompany debt 417.8 373.4 403.2 390.1 390.5 373.4 353.6 342.2 364.7 45

 46 FL383190005 Miscellaneous liabilities 17271.1 17948.2 17967.8 17939.7 18175.2 17948.2 17958.0 17751.7 17860.2 46

 Memo:

 47 LM103164103 Corporate equities (market value) 33680.5 41962.3 27002.7 33391.1 36930.1 41962.3 44805.8 48359.0 47944.8 47

 48 LM112090205 Equity in noncorporate business 11886.7 12790.5 12012.6 12161.4 12400.6 12790.5 13076.7 13693.3 14327.8 48

 49 LM143192105 Foreign direct investment: equity 7603.8 8833.2 6077.4 7293.0 7938.6 8833.2 9364.8 10176.3 10253.5 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL154090005 Total financial assets 93386.7 104517.1 86520.2 93791.9 97420.4 104517.1 108581.1 113128.9 114057.0 1

 2 LM153091003 Foreign deposits 40.8 48.6 50.2 43.7 47.7 48.6 50.0 49.4 48.2 2

 3 FL153020005 Checkable deposits and currency 1173.4 2883.9 1317.2 1595.2 1732.2 2883.9 3308.8 3686.4 3714.7 3

 4 FL153030005 Time and savings deposits 9834.5 10305.6 10118.1 10646.8 10749.8 10305.6 10792.1 10605.2 10711.0 4

 5 FL153034005 Money market fund shares 2210.7 2548.1 2396.8 2660.0 2626.3 2548.1 2728.4 2772.7 2754.8 5

 6 LM154022005 Debt securities 4770.1 4564.4 4623.7 4374.3 4177.0 4564.4 3941.1 3619.1 3798.8 6

 7 LM153061105 Treasury securities 1776.9 1756.1 1427.9 1328.6 1402.7 1756.1 1527.6 1256.8 1401.0 7

 8 LM153061705 Agency- and GSE-backed securities 685.2 331.9 699.9 452.1 383.2 331.9 202.6 284.9 201.2 8

 9 LM153062005 Municipal securities 1931.4 1951.7 1909.2 1932.9 1940.3 1951.7 1911.1 1902.8 1842.5 9

 10 LM153063005 Corporate and foreign bonds 376.6 524.7 586.8 660.6 450.8 524.7 299.8 174.7 354.1 10

 11 FL154023005 Loans 1147.9 1264.4 1305.1 1278.2 1240.8 1264.4 1275.4 1289.9 1338.6 11

 12 FL153069005 Other loans and advances (2) 1038.6 1156.6 1196.4 1170.5 1133.3 1156.6 1168.9 1185.2 1235.7 12

 13 FL153065005 Mortgages 82.1 83.6 82.6 82.6 83.2 83.6 82.6 81.0 79.5 13

 14 FL163066223 Consumer credit (student loans) 27.3 24.1 26.1 25.1 24.3 24.1 23.9 23.6 23.3 14

 15 LM153064105 Corporate equities (3) 20989.2 25634.1 16420.2 20107.1 22197.5 25634.1 28033.6 30547.3 30402.0 15

 16 LM153064205 Mutual fund shares 9966.1 11074.9 8143.8 9433.1 10025.6 11074.9 11567.8 12265.6 12233.5 16

 17 FL163070005 Trade receivables 271.3 279.0 273.2 275.2 277.1 279.0 280.7 282.4 284.2 17

 18 FL153040005 Life insurance reserves 1731.3 1867.0 1733.7 1776.1 1811.9 1867.0 1854.2 1886.5 1897.1 18

 19 FL153050005 Pension entitlements (4) 27994.2 29798.3 26751.0 28039.8 28697.1 29798.3 30198.2 30942.0 31026.9 19

 20 FL593073005 Claims of pension fund on sponsor 6236.3 5934.5 7221.1 6735.8 6519.5 5934.5 5894.8 5549.9 5736.6 20

 21 FL153050025 Funded pension entitlements 21757.9 23863.8 19529.9 21304.0 22177.6 23863.8 24303.4 25392.1 25290.3 21

 22 LM152090205 Equity in noncorporate business 11970.2 12880.8 12097.4 12249.8 12487.6 12880.8 13170.5 13791.2 14427.4 22

 23 FL153090005 Miscellaneous assets 1286.9 1368.2 1289.7 1312.5 1349.9 1368.2 1380.4 1391.2 1419.7 23

 24 FL154190005 Total liabilities 16505.1 17123.3 16570.4 16577.0 16841.2 17123.3 17322.3 17663.6 17968.6 24

 25 FL163162003 Debt securities (municipal securities) 212.8 202.5 209.8 207.6 206.2 202.5 203.2 202.9 201.8 25

 26 FL154123005 Loans 15886.4 16508.0 15950.3 15958.4 16222.8 16508.0 16702.4 17043.1 17347.6 26

 27 FL153165105 One-to-four-family residential mortgages (5) 10481.2 10919.7 10541.6 10622.7 10780.7 10919.7 11042.3 11266.8 11497.0 27

 28 FL153166000 Consumer credit 4192.2 4184.9 4147.8 4097.3 4142.7 4184.9 4167.2 4259.6 4343.3 28

 29 FL153168005 Depository institution loans n.e.c. (6) 350.2 370.5 383.9 375.8 364.6 370.5 370.2 371.5 384.9 29

 30 FL153169005 Other loans and advances 603.9 772.4 617.7 603.0 674.7 772.4 862.1 884.2 861.2 30

 31 FL163165505 Commercial mortgages 259.0 260.4 259.3 259.7 260.0 260.4 260.7 260.9 261.2 31

 32 FL163170005 Trade payables 369.5 376.3 371.2 372.9 374.6 376.3 378.0 379.7 381.3 32

 33 FL543077073 Deferred and unpaid life insurance premiums 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL144090005 Total financial assets 28662.3 31043.6 29019.9 29818.5 30580.0 31043.6 31573.7 32102.2 32688.3 1

 2 FL103091003 Foreign deposits 131.0 142.6 111.3 145.3 159.6 142.6 141.8 176.8 168.8 2

 3 FL143020005 Checkable deposits and currency 1677.8 2442.5 1954.6 2456.0 2543.3 2442.5 2446.5 2437.8 2600.9 3

 4 FL143030005 Time and savings deposits 1308.0 1537.7 1480.1 1568.6 1568.7 1537.7 1562.0 1583.4 1655.2 4

 5 FL143034005 Money market fund shares 668.7 797.3 1033.5 987.2 806.5 797.3 748.9 730.3 766.0 5

 6 FL102051003 Security repurchase agreements 13.4 39.8 27.4 32.4 30.3 39.8 27.1 36.8 30.8 6

 7 LM144022005 Debt securities 406.7 467.9 457.1 480.7 478.5 467.9 430.1 457.2 472.2 7

 8 FL103069100 Commercial paper 217.6 255.9 227.8 219.9 238.7 255.9 235.6 268.2 274.3 8

 9 LM143061105 Treasury securities 137.7 155.4 168.7 192.3 176.6 155.4 141.5 137.2 143.7 9

 10 LM103061703 Agency- and GSE-backed securities 21.2 25.1 30.7 37.6 32.1 25.1 21.4 19.8 22.3 10

 11 LM143062005 Municipal securities 30.2 31.6 30.0 30.8 31.2 31.6 31.6 32.0 31.9 11

 12 FL144023005 Loans 124.0 130.6 125.1 127.8 129.4 130.6 131.6 132.5 134.7 12

 13 FL143065005 Mortgages 88.2 94.8 90.4 93.0 94.3 94.8 96.9 97.7 99.6 13

 14 FL143066005 Consumer credit 35.8 35.8 34.7 34.8 35.1 35.8 34.7 34.8 35.1 14

 15 LM103064103 Corporate equities 2317.7 2553.7 1834.2 2169.4 2319.8 2553.7 2669.4 2855.7 2830.6 15

 16 LM103064203 Mutual fund shares 326.4 376.4 276.9 321.6 342.8 376.4 390.7 415.3 415.2 16

 17 FL143070005 Trade receivables 4953.5 5035.3 4869.0 4666.1 4885.5 5035.3 5204.5 5406.1 5582.1 17

 18 LM103092005 U.S. direct investment abroad 6365.2 6885.4 4851.1 5743.6 6040.0 6885.4 7279.3 7816.9 7792.4 18

 19 FL143090005 Miscellaneous assets 10369.8 10634.3 11999.6 11119.8 11275.6 10634.3 10541.8 10053.3 10239.4 19

 20 FL144190005 Total liabilities 31761.7 33721.2 32567.4 33094.1 33380.4 33721.2 34187.8 34421.7 34820.7 20

 21 FL104122005 Debt securities 6582.9 7200.1 6816.9 7178.1 7195.5 7200.1 7319.3 7330.8 7400.4 21

 22 FL103169100 Commercial paper 194.5 132.2 243.1 166.1 122.2 132.2 144.0 132.0 122.4 22

 23 FL103162000 Municipal securities 586.6 590.6 589.2 590.4 591.3 590.6 591.0 596.0 598.1 23

 24 FL103163003 Corporate bonds 5801.8 6477.3 5984.6 6421.6 6482.1 6477.3 6584.3 6602.9 6679.9 24

 25 FL144123005 Loans 9687.2 10518.3 10273.4 10551.0 10491.5 10518.3 10654.3 10674.0 10746.2 25

 26 FL143168005 Depository institution loans n.e.c. 2515.2 2766.1 2937.1 3071.0 2880.8 2766.1 2769.9 2638.3 2538.1 26

 27 FL143169005 Other loans and advances 2094.1 2378.2 2186.4 2261.4 2325.1 2378.2 2446.0 2511.7 2577.8 27

 28 FL143165005 Mortgages 5077.9 5374.0 5149.9 5218.7 5285.6 5374.0 5438.5 5524.0 5630.3 28

 29 FL143170005 Trade payables 3562.0 3670.8 3465.3 3300.1 3529.7 3670.8 3786.0 3959.0 4136.0 29

 30 FL143178005 Taxes payable 423.9 450.9 454.3 489.5 445.6 450.9 456.6 419.3 410.1 30

 31 LM143192305 Foreign direct investment: intercompany debt 417.8 373.4 403.2 390.1 390.5 373.4 353.6 342.2 364.7 31

 32 FL143190005 Miscellaneous liabilities 11087.9 11507.6 11154.2 11185.3 11327.5 11507.6 11618.0 11696.3 11763.2 32

 Memo:

 33 LM103164103 Corporate equities (market value) 33680.5 41962.3 27002.7 33391.1 36930.1 41962.3 44805.8 48359.0 47944.8 33

 34 LM112090205 Equity in noncorporate business 11886.7 12790.5 12012.6 12161.4 12400.6 12790.5 13076.7 13693.3 14327.8 34

 35 LM143192105 Foreign direct investment: equity 7603.8 8833.2 6077.4 7293.0 7938.6 8833.2 9364.8 10176.3 10253.5 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL104090005 Total financial assets 22481.9 24315.8 22659.3 23238.5 23881.8 24315.8 24769.7 25241.8 25800.9 1

 2 FL103091003 Foreign deposits 131.0 142.6 111.3 145.3 159.6 142.6 141.8 176.8 168.8 2

 3 FL103020000 Checkable deposits and currency 1339.9 2005.2 1559.9 2014.0 2104.4 2005.2 1986.2 1963.4 2104.9 3

 4 FL103030003 Time and savings deposits 201.5 308.7 298.9 329.8 333.5 308.7 299.2 305.8 344.2 4

 5 FL103034000 Money market fund shares 558.3 677.9 919.6 868.9 686.8 677.9 628.6 609.7 644.8 5

 6 FL102051003 Security repurchase agreements 13.4 39.8 27.4 32.4 30.3 39.8 27.1 36.8 30.8 6

 7 LM104022005 Debt securities 326.6 381.3 374.5 394.9 391.7 381.3 346.1 372.9 388.6 7

 8 FL103069100 Commercial paper 217.6 255.9 227.8 219.9 238.7 255.9 235.6 268.2 274.3 8

 9 LM103061103 Treasury securities 63.6 75.2 92.2 112.9 96.2 75.2 64.1 59.5 66.9 9

 10 LM103061703 Agency- and GSE-backed securities 21.2 25.1 30.7 37.6 32.1 25.1 21.4 19.8 22.3 10

 11 LM103062003 Municipal securities 24.2 25.1 23.8 24.4 24.7 25.1 25.0 25.4 25.1 11

 12 FL104023005 Loans 72.2 74.6 71.7 72.4 73.2 74.6 74.1 74.8 75.7 12

 13 FL103065003 Mortgages 36.4 38.8 37.0 37.6 38.2 38.8 39.4 40.0 40.6 13

 14 FL103066005 Consumer credit 35.8 35.8 34.7 34.8 35.1 35.8 34.7 34.8 35.1 14

 15 LM103064103 Corporate equities 2317.7 2553.7 1834.2 2169.4 2319.8 2553.7 2669.4 2855.7 2830.6 15

 16 LM103064203 Mutual fund shares 326.4 376.4 276.9 321.6 342.8 376.4 390.7 415.3 415.2 16

 17 FL103070005 Trade receivables 4053.2 4088.0 3957.3 3740.8 3948.9 4088.0 4243.4 4434.8 4600.7 17

 18 LM103092005 U.S. direct investment abroad (1) 6365.2 6885.4 4851.1 5743.6 6040.0 6885.4 7279.3 7816.9 7792.4 18

 19 FL103090005 Miscellaneous assets 6776.4 6782.2 8376.5 7405.5 7450.7 6782.2 6683.7 6178.9 6404.0 19

 20 FL103076005 Insurance receivables 392.0 414.0 394.8 402.4 414.0 414.0 423.9 431.8 448.9 20

 21 FL103092405 Equity in GSEs 1.3 1.4 1.4 1.3 1.3 1.4 1.5 1.5 1.4 21

 22 FL103094105 Investment in finance company affiliates 112.5 109.5 111.3 107.8 103.8 109.5 109.4 99.6 83.5 22

 23 FL103072005 PPP subsidies receivable 0.0 210.0 0.0 92.5 223.9 210.0 166.4 118.1 101.2 23

 24 FL103093005 Other 6270.6 6047.3 7869.0 6801.6 6707.8 6047.3 5982.4 5527.8 5769.0 24

 25 FL104190005 Total liabilities 22974.3 24335.6 23586.9 23882.3 24041.2 24335.6 24691.8 24857.3 25212.2 25

 26 FL104122005 Debt securities 6582.9 7200.1 6816.9 7178.1 7195.5 7200.1 7319.3 7330.8 7400.4 26

 27 FL103169100 Commercial paper 194.5 132.2 243.1 166.1 122.2 132.2 144.0 132.0 122.4 27

 28 FL103162000 Municipal securities (2) 586.6 590.6 589.2 590.4 591.3 590.6 591.0 596.0 598.1 28

 29 FL103163003 Corporate bonds (1) 5801.8 6477.3 5984.6 6421.6 6482.1 6477.3 6584.3 6602.9 6679.9 29

 30 FL104123005 Loans 3550.7 3862.7 3979.2 4018.3 3865.7 3862.7 3939.3 3922.2 3987.2 30

 31 FL103168005 Depository institution loans n.e.c. 1034.0 1111.6 1368.0 1361.6 1164.0 1111.6 1119.3 1030.7 989.0 31

 32 FL103169005 Other loans and advances (3) 1837.7 2025.8 1924.2 1958.1 1993.3 2025.8 2081.3 2124.0 2192.9 32

 33 FL103165005 Mortgages 679.0 725.4 687.1 698.6 708.3 725.4 738.7 767.6 805.3 33

 34 FL103170005 Trade payables 2920.5 3055.3 2821.1 2694.0 2909.9 3055.3 3146.3 3309.6 3472.6 34

 35 FL103178005 Taxes payable 259.9 273.7 285.3 314.1 268.1 273.7 274.7 239.5 231.3 35

 36 LM103192305 Foreign direct investment: intercompany debt 410.7 366.9 396.3 383.4 383.9 366.9 347.4 336.1 358.7 36

 37 FL103190005 Miscellaneous liabilities 9249.6 9576.9 9288.0 9294.4 9418.1 9576.9 9664.8 9719.1 9762.0 37

 38 FL573074005 Pension fund contributions payable 80.1 70.2 79.4 76.6 73.7 70.2 67.9 64.3 61.0 38

 39 FL573073005 Claims of pension fund on sponsor 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 127.6 39

 40 FL103193005 Other 8764.7 9287.8 8448.5 8729.1 8940.5 9287.8 9390.3 9577.0 9573.3 40

 Memo:

 41 LM103164103 Corporate equities (market value) 33680.5 41962.3 27002.7 33391.1 36930.1 41962.3 44805.8 48359.0 47944.8 41

 42 LM103192105 Foreign direct investment: equity 7498.2 8712.1 5993.6 7192.3 7830.7 8712.1 9237.5 10036.6 10105.8 42

 43 FL104001005 Total liquid assets (4) 5214.8 6485.6 5402.8 6276.2 6368.9 6485.6 6489.2 6736.4 6928.0 43

 44 FL104150005 Total short-term liabilities (5) 6246.6 6598.5 6641.7 6493.9 6457.5 6598.5 6765.7 6835.6 7008.3 44

 45 FL104001006 Liquid assets/short-term liabilities (percent) 83.48 98.29 81.35 96.65 98.63 98.29 95.91 98.55 98.86 45

 46 FL104140006 Short-term debt/total debt (percent) (6) 30.26 29.55 32.75 31.13 29.65 29.55 29.71 29.21 29.02 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL114090005 Total financial assets 6180.3 6727.8 6360.6 6579.9 6698.2 6727.8 6804.0 6860.4 6887.4 1

 2 FL113020005 Checkable deposits and currency 337.9 437.3 394.7 442.0 438.9 437.3 460.3 474.4 496.0 2

 3 FL113030003 Time and savings deposits 1106.5 1229.0 1181.2 1238.9 1235.2 1229.0 1262.8 1277.7 1311.0 3

 4 FL113034003 Money market fund shares 110.4 119.5 113.9 118.3 119.7 119.5 120.2 120.6 121.2 4

 5 LM114022005 Debt securities 80.0 86.6 82.6 85.8 86.8 86.6 84.0 84.3 83.5 5

 6 LM113061003 Treasury securities 74.1 80.2 76.5 79.4 80.4 80.2 77.4 77.7 76.8 6

 7 LM113062003 Municipal securities 5.9 6.4 6.1 6.4 6.4 6.4 6.6 6.6 6.7 7

 8 FL114023005 Loans 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 59.0 8

 9 FL113065005 Mortgages 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 59.0 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 900.3 947.3 911.7 925.3 936.6 947.3 961.1 971.3 981.4 11

 12 FL113090005 Miscellaneous assets 3593.4 3852.1 3623.1 3714.2 3824.9 3852.1 3858.1 3874.4 3835.4 12

 13 FL113076005 Insurance receivables 129.0 136.0 130.0 132.5 135.8 136.0 138.9 141.8 147.0 13

 14 FL113092405 Equity investment in GSEs (1) 12.8 13.0 12.6 12.8 13.0 13.0 13.0 13.6 13.8 14

 15 FL113072003 PPP subsidies receivable 0.0 117.5 0.0 51.0 123.5 117.5 92.4 75.2 0.8 15

 16 FL113093005 Other 3451.7 3585.6 3480.5 3517.9 3552.7 3585.6 3613.8 3643.8 3673.8 16

 17 FL114190005 Total liabilities 8787.3 9385.6 8980.5 9211.8 9339.2 9385.6 9495.9 9564.4 9608.5 17

 18 FL114123005 Loans 6136.5 6655.6 6294.2 6532.7 6625.9 6655.6 6715.0 6751.8 6759.0 18

 19 FL113168005 Depository institution loans n.e.c. 1481.2 1654.5 1569.2 1709.4 1716.8 1654.5 1650.6 1607.6 1549.1 19

 20 FL113169005 Other loans and advances 256.4 352.4 262.2 303.2 331.8 352.4 364.6 387.8 384.9 20

 21 FL113165005 Mortgages 4398.9 4648.6 4462.8 4520.1 4577.3 4648.6 4699.8 4756.4 4825.0 21

 22 FL113170005 Trade payables 641.5 615.6 644.2 606.1 619.8 615.6 639.6 649.5 663.4 22

 23 FL113178003 Taxes payable 164.0 177.1 169.1 175.5 177.5 177.1 181.8 179.9 178.9 23

 24 LM115114305 Foreign direct investment: intercompany debt 7.1 6.5 6.8 6.7 6.6 6.5 6.2 6.1 6.0 24

 25 FL113193003 Miscellaneous liabilities 1838.2 1930.8 1866.2 1890.9 1909.4 1930.8 1953.2 1977.2 2001.2 25

 Memo:

 26 LM112090205 Equity in noncorporate business 11886.7 12790.5 12012.6 12161.4 12400.6 12790.5 13076.7 13693.3 14327.8 26

 27 LM115114103 Foreign direct investment: equity 105.6 121.2 83.8 100.6 107.9 121.2 127.3 139.8 147.6 27

(1) Equity in the Farm Credit System.
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82 Z.1, December 9, 2021

L.105 General Government (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL364090005 Total financial assets 6318.8 8562.3 6509.8 8239.7 8460.0 8562.3 7985.1 7941.6 7512.2 1

 2 FL313011005 U.S. official reserve assets 97.8 111.7 96.4 102.2 106.5 111.7 107.0 108.1 216.8 2

 3 FL363020005 Checkable deposits and currency 546.3 1962.0 661.3 1892.7 1963.0 1962.0 1365.7 1152.3 536.8 3

 4 FL363030005 Time and savings deposits 425.5 414.6 432.3 431.8 435.7 414.6 416.3 393.3 386.3 4

 5 FL213034003 Money market fund shares 26.5 34.5 32.4 35.3 34.3 34.5 35.8 36.1 35.3 5

 6 FL212051003 Security repurchase agreements 163.6 182.9 161.4 174.2 178.9 182.9 189.1 195.5 201.3 6

 7 FL364022005 Debt securities 1639.1 1903.7 1725.3 1862.9 1859.0 1903.7 1860.1 2082.5 2150.8 7

 8 FL213069103 Open market paper 77.6 79.2 76.5 75.1 77.3 79.2 83.1 89.1 96.2 8

 9 FL213061105 Treasury securities 793.1 1111.9 862.1 1032.8 1057.7 1111.9 1112.1 1326.2 1397.1 9

 10 FL363061705 Agency- and GSE-backed securities 539.3 466.5 560.8 503.0 483.3 466.5 439.8 442.7 431.2 10

 11 FL213062003 Municipal securities 16.7 18.6 16.5 17.8 18.2 18.6 19.5 20.2 21.1 11

 12 FL363063005 Corporate and foreign bonds 212.4 227.4 209.4 234.1 222.5 227.4 205.5 204.2 205.1 12

 13 FL364023005 Loans 1930.5 2188.9 1956.5 2080.7 2172.6 2188.9 2228.5 2243.2 2277.6 13

 14 FL363065005 Mortgages 380.3 388.9 378.4 383.0 385.2 388.9 391.9 394.1 396.7 14

 15 FL313066220 Consumer credit 1319.2 1381.0 1350.6 1355.8 1379.4 1381.0 1410.1 1413.9 1438.3 15

 16 FL313069005 Other loans and advances 230.9 419.0 227.4 341.9 407.9 419.0 426.5 435.2 442.6 16

 17 LM363064105 Corporate equities 247.3 283.2 200.7 236.0 252.6 283.2 297.6 317.7 315.6 17

 18 LM213064203 Mutual fund shares 98.9 112.8 83.4 96.4 102.2 112.8 116.6 123.4 122.9 18

 19 FL363070005 Trade receivables 322.9 341.5 315.9 311.6 328.3 341.5 357.1 370.2 385.1 19

 20 FL363078005 Taxes receivable 560.9 631.0 595.9 640.4 636.3 631.0 671.2 574.8 541.2 20

 21 FL363090005 Miscellaneous assets 259.6 395.7 248.5 375.7 390.5 395.7 340.2 344.7 342.6 21

 22 FL364190005 Total liabilities 29899.1 34896.9 31042.9 33860.2 34549.1 34896.9 35190.1 35312.8 35629.0 22

 23 LM313111303 SDR allocations 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 161.8 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 23.2 23.1 23.2 23.2 23.1 23.1 23.1 23.1 23.0 25

 26 FL364122005 Debt securities 22134.8 26806.6 22641.4 25515.2 26079.5 26806.6 27173.7 27550.3 27505.1 26

 27 FL313161105 Treasury securities 19018.7 23600.9 19518.4 22370.7 22900.4 23600.9 23943.0 24301.5 24249.9 27

 28 FL313161705 Budget agency securities 21.2 20.2 21.2 21.0 20.2 20.2 19.8 19.8 19.5 28

 29 FL213162005 Municipal securities 3094.9 3185.6 3101.7 3123.5 3158.9 3185.6 3210.9 3228.9 3235.7 29

 30 FL364123005 Loans 21.1 22.1 21.2 21.4 21.8 22.1 22.3 22.3 202.8 30

 31 FL313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FL363169005 Other loans and advances 21.1 22.1 21.2 21.4 21.8 22.1 22.3 22.3 202.8 32

 33 FL363170005 Trade payables 1467.1 1532.6 1477.2 1478.4 1507.4 1532.6 1561.9 1592.2 1619.1 33

 34 FL313140003 Insurance reserves 52.2 52.4 52.0 52.0 52.4 52.4 52.7 51.8 52.7 34

 35 FL363190005 Miscellaneous liabilities 6146.7 6403.9 6774.5 6716.3 6810.1 6403.9 6301.3 6017.5 6059.1 35

 Memo:

 36 FL374090005 Total financial assets (consolidated) (2) 5487.9 7409.7 5610.0 7167.8 7362.3 7409.7 6831.3 6572.9 6071.7 36

 37 FL374190005 Total liabilities (consolidated) (2) 29068.2 33744.2 30143.1 32788.3 33451.4 33744.2 34036.3 33944.1 34188.4 37

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

(2) Excludes Treasury securities and municipal securities held by state and local governments (lines 9 and 11) and federal government loans to state and local governments (line 32).
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Z.1, December 9, 2021 83

L.106 Federal Government

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL314090005 Total financial assets 2884.2 4665.2 3056.2 4550.2 4699.3 4665.2 4075.8 3715.4 3174.8 1

 2 FL313011005 U.S. official reserve assets 97.8 111.7 96.4 102.2 106.5 111.7 107.0 108.1 216.8 2

 3 FL313020005 Checkable deposits and currency 407.2 1732.1 518.9 1725.4 1784.9 1732.1 1117.1 855.7 218.4 3

 4 FL313030003 Time and savings deposits 2.3 1.0 1.9 2.1 1.6 1.0 9.9 1.3 1.7 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 1674.0 1927.2 1703.4 1824.4 1913.1 1927.2 1964.8 1978.5 2012.5 8

 9 FL313069005 Other loans and advances 230.9 419.0 227.4 341.9 407.9 419.0 426.5 435.2 442.6 9

 10 FL313065005 Mortgages 123.8 127.2 125.3 126.7 125.7 127.2 128.2 129.5 131.5 10

 11 FL313066220 Consumer credit (1) 1319.2 1381.0 1350.6 1355.8 1379.4 1381.0 1410.1 1413.9 1438.3 11

 12 LM313064105 Corporate equities (2) 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 12

 13 FL313070000 Trade receivables 73.5 84.9 73.4 80.6 81.6 84.9 92.1 93.4 96.0 13

 14 FL313078000 Taxes receivable 380.0 437.0 409.9 448.1 441.9 437.0 472.5 375.5 337.9 14

 15 FL313090005 Miscellaneous assets 215.7 337.7 218.7 333.8 335.9 337.7 278.8 269.3 257.9 15

 16 FL314190005 Total liabilities 21576.7 26555.0 22108.6 25143.2 25906.1 26555.0 26870.7 27193.2 27390.6 16

 17 LM313111303 SDR allocations 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 161.8 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 23.2 23.1 23.2 23.2 23.1 23.1 23.1 23.1 23.0 19

 20 FL314122005 Debt securities 19039.9 23621.1 19539.6 22391.7 22920.6 23621.1 23962.8 24321.4 24269.4 20

 21 FL313161105 Treasury securities (3) 19018.7 23600.9 19518.4 22370.7 22900.4 23600.9 23943.0 24301.5 24249.9 21

 22 FL313161205 Marketable 16628.9 20946.2 17115.8 19867.0 20340.2 20946.2 21347.4 21699.0 21846.1 22

 23 FL313161305 Nonmarketable 2389.8 2654.7 2402.6 2503.6 2560.2 2654.7 2595.6 2602.5 2403.8 23

 24 FL313161705 Budget agency securities 21.2 20.2 21.2 21.0 20.2 20.2 19.8 19.8 19.5 24

 25 FL314123005 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 180.6 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 0.0 180.6 27

 28 FL313170005 Trade payables 418.3 435.5 416.2 405.6 422.6 435.5 452.0 469.4 483.0 28

 29 FL313140003 Insurance reserves 52.2 52.4 52.0 52.0 52.4 52.4 52.7 51.8 52.7 29

 30 FL313190005 Miscellaneous liabilities 1989.1 2366.9 2024.3 2216.9 2432.5 2366.9 2324.9 2272.0 2214.9 30

 31 FL343073045 Claims of pension fund on sponsor 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 1764.8 31

 32 FL313172003 PPP subsidies payable 0.0 364.7 0.0 158.5 383.7 364.7 290.8 219.8 121.5 32

 33 FL313190015 Other 315.2 323.6 313.4 310.7 310.8 323.6 322.2 325.7 328.6 33

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

 the government purchased from depository institutions and finance companies.

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

(3) Includes marketable and nonmarketable Treasury securities held by the public and Treasury securities held by federal government employee retirement funds.
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84 Z.1, December 9, 2021

L.107 State and Local Governments

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL214090005 Total financial assets 3434.6 3897.2 3453.6 3689.6 3760.8 3897.2 3909.3 4226.3 4337.4 1

 2 FL213020005 Checkable deposits and currency 139.1 229.9 142.3 167.3 178.1 229.9 248.6 296.6 318.4 2

 3 FL213030000 Time and savings deposits 423.2 413.6 430.4 429.7 434.1 413.6 406.5 392.0 384.6 3

 4 FL213034003 Money market fund shares 26.5 34.5 32.4 35.3 34.3 34.5 35.8 36.1 35.3 4

 5 FL212051003 Security repurchase agreements 163.6 182.9 161.4 174.2 178.9 182.9 189.1 195.5 201.3 5

 6 LM214022005 Debt securities 1638.6 1903.2 1724.8 1862.4 1858.6 1903.2 1859.6 2082.0 2150.3 6

 7 FL213069103 Open market paper 77.6 79.2 76.5 75.1 77.3 79.2 83.1 89.1 96.2 7

 8 LM213061105 Treasury securities 793.1 1111.9 862.1 1032.8 1057.7 1111.9 1112.1 1326.2 1397.1 8

 9 LM213061703 Agency- and GSE-backed securities 539.3 466.5 560.8 503.0 483.3 466.5 439.8 442.7 431.2 9

 10 LM213062003 Municipal securities 16.7 18.6 16.5 17.8 18.2 18.6 19.5 20.2 21.1 10

 11 LM213063003 Corporate and foreign bonds 211.9 226.9 208.9 233.6 222.0 226.9 205.0 203.7 204.6 11

 12 FL213065005 Loans (mortgages) 256.5 261.7 253.1 256.3 259.5 261.7 263.6 264.6 265.2 12

 13 LM213064103 Corporate equities 214.1 250.0 167.6 202.8 219.5 250.0 264.4 284.5 282.4 13

 14 LM213064203 Mutual fund shares 98.9 112.8 83.4 96.4 102.2 112.8 116.6 123.4 122.9 14

 15 FL213070003 Trade receivables 249.3 256.7 242.6 231.0 246.7 256.7 265.0 276.9 289.0 15

 16 FL213078005 Taxes receivable 180.9 194.0 186.0 192.4 194.4 194.0 198.7 199.3 203.3 16

 17 FL213093003 Miscellaneous assets 43.8 57.9 29.8 41.8 54.5 57.9 61.4 75.4 84.7 17

 18 FL214190005 Total liabilities 8322.4 8341.9 8934.2 8717.1 8643.0 8341.9 8319.4 8119.6 8238.3 18

 19 FL213162005 Debt securities (municipal securities) 3094.9 3185.6 3101.7 3123.5 3158.9 3185.6 3210.9 3228.9 3235.7 19

 20 FL213162400 Short-term (1) 44.8 46.5 43.0 41.2 44.8 46.5 43.1 36.8 30.8 20

 21 FL213162200 Long-term 3050.1 3139.1 3058.7 3082.3 3114.1 3139.1 3167.8 3192.1 3204.9 21

 22 FL213169203 Loans (U.S. government loans) 21.1 22.1 21.2 21.4 21.8 22.1 22.3 22.3 22.3 22

 23 FL213170003 Trade payables 1048.8 1097.2 1061.0 1072.8 1084.8 1097.2 1109.9 1122.9 1136.1 23

 24 FL223073045 Claims of pension fund on sponsor (2) 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 3976.4 3745.6 3844.2 24

(1) Debt with original maturity of 13 months or less.

(2) Included in miscellaneous liabilities.
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L.108 Domestic Financial Sectors (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL794090005 Total financial assets 107959.8 122358.1 107809.9 114873.2 117106.9 122358.1 125205.5 129161.3 130570.8 1

 2 FL713011005 U.S. official reserve assets 31.6 33.1 31.4 31.6 32.3 33.1 31.9 32.0 31.7 2

 3 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 FL713012003 Treasury currency 50.1 50.5 50.2 50.3 50.4 50.5 50.5 50.6 50.8 4

 5 FL633091003 Foreign deposits 7.4 0.7 3.8 2.1 0.9 0.7 2.2 0.3 0.9 5

 6 FL794010005 Net interbank assets 1631.7 3138.1 2649.3 2961.7 2898.6 3138.1 3810.5 3644.7 3964.4 6

 7 FL793020005 Checkable deposits and currency 469.6 694.4 777.5 651.9 579.1 694.4 734.2 663.5 804.6 7

 8 FL793030005 Time and savings deposits 716.8 723.1 756.6 837.8 772.7 723.1 687.3 651.6 631.0 8

 9 FL793034005 Money market fund shares 603.3 828.6 744.8 817.5 813.7 828.6 855.5 867.1 858.2 9

 10 FL792050005 Federal funds and security repos 3900.2 3592.5 4171.8 3494.0 3487.2 3592.5 3236.5 3747.2 4288.6 10

 11 FL794022005 Debt securities 28757.8 35880.5 30237.8 34104.4 34946.4 35880.5 36011.7 36938.0 36785.8 11

 12 FL793069175 Open market paper 619.9 566.5 684.5 605.2 552.7 566.5 684.6 622.3 597.8 12

 13 FL793061105 Treasury securities 9785.2 14554.2 11208.1 13840.1 14210.5 14554.2 14514.5 14938.2 14527.5 13

 14 FL793061705 Agency- and GSE-backed securities 7237.1 8396.7 7662.5 7949.1 8150.8 8396.7 8553.3 8709.4 8922.9 14

 15 FL793062005 Municipal securities 2105.7 2234.0 2060.3 2129.7 2178.2 2234.0 2252.5 2318.3 2335.8 15

 16 FL793063005 Corporate and foreign bonds 9010.0 10129.1 8622.3 9580.3 9854.2 10129.1 10006.7 10349.7 10401.7 16

 17 FL794023005 Loans 24206.4 25238.9 25127.1 24933.3 24956.5 25238.9 25503.6 25883.8 26373.1 17

 18 FL793068005 Depository institution loans n.e.c. 3803.1 4216.0 4450.7 4479.5 4272.2 4216.0 4240.2 4191.6 4140.1 18

 19 FL793069005 Other loans and advances 2101.7 2065.5 2315.5 2006.1 1991.0 2065.5 2173.9 2206.8 2363.6 19

 20 FL793065005 Mortgages 15491.7 16213.4 15624.5 15766.2 15989.4 16213.4 16390.9 16698.1 17022.9 20

 21 FL793066005 Consumer credit 2809.8 2744.0 2736.4 2681.6 2703.9 2744.0 2698.6 2787.3 2846.5 21

 22 LM793064105 Corporate equities 22890.6 25985.4 17933.8 21341.4 22884.9 25985.4 27495.8 29490.3 29310.8 22

 23 LM793064205 Mutual fund shares 6371.9 6969.2 5244.5 6023.5 6327.5 6969.2 7121.6 7509.0 7417.6 23

 24 FL793070005 Trade receivables 335.2 376.3 350.9 368.4 382.4 376.3 383.2 395.1 402.7 24

 25 FL793040005 Life insurance reserves 500.9 516.6 504.1 508.2 512.1 516.6 517.6 526.7 532.5 25

 26 FL543050005 Pension entitlements 199.5 291.3 219.7 249.1 268.3 291.3 292.3 297.2 300.8 26

 27 LM793092005 U.S. direct investment abroad 1213.9 1355.4 955.3 1112.2 1168.2 1355.4 1452.7 1550.6 1560.0 27

 28 FL793090005 Miscellaneous assets 16067.7 16678.3 18046.2 17380.6 17020.6 16678.3 17013.0 16908.6 17252.0 28

 29 FL794190005 Total liabilities 99257.3 111781.0 100002.6 105826.1 107499.8 111781.0 114616.8 117598.2 118927.3 29

 30 FL794110005 Net interbank liabilities 1711.9 3258.2 3063.4 3210.9 3080.8 3258.2 3829.3 3657.0 4124.7 30

 31 FL793120005 Checkable deposits and currency 4856.0 9128.6 5771.8 7671.3 7926.9 9128.6 9034.1 9127.2 8845.4 31

 32 FL703130005 Time and savings deposits 12884.6 13679.8 13500.0 14171.0 14212.6 13679.8 14194.9 13989.4 14137.5 32

 33 FL634090005 Money market fund shares 3634.3 4335.6 4338.0 4635.9 4410.1 4335.6 4500.4 4539.3 4544.6 33

 34 FL792150005 Federal funds and security repos 3200.7 2946.7 3458.7 2853.5 2884.5 2946.7 2904.8 3723.1 4400.9 34

 35 FL794122005 Debt securities 13976.6 14874.3 14592.4 14563.3 14597.9 14874.3 15052.9 15351.2 15492.4 35

 36 FL793169175 Open market paper 397.9 390.9 422.0 403.1 378.7 390.9 455.2 429.7 435.6 36

 37 FL423161705 Agency- and GSE-backed securities 9408.3 10066.5 9747.9 9722.7 9846.0 10066.5 10206.5 10387.6 10516.4 37

 38 FL793163005 Corporate and foreign bonds 4170.4 4416.9 4422.4 4437.5 4373.1 4416.9 4391.1 4533.9 4540.4 38

 39 FL794123005 Loans 1954.6 1924.7 2367.7 2030.1 1917.2 1924.7 1922.8 1963.3 1972.4 39

 40 FL793168005 Depository institution loans n.e.c. 305.1 380.7 413.8 347.1 341.7 380.7 384.0 438.1 424.8 40

 41 FL793169005 Other loans and advances 1425.2 1317.4 1728.9 1459.2 1349.7 1317.4 1318.0 1306.0 1337.3 41

 42 FL123165005 Mortgages 224.3 226.6 225.1 223.8 225.8 226.6 220.8 219.2 210.2 42

 43 LM653164205 Mutual fund shares 17659.5 19562.6 14543.1 16776.1 17749.3 19562.6 20271.3 21459.7 21374.9 43

 44 FL793170005 Trade payables 295.2 397.2 320.3 352.4 380.2 397.2 402.6 407.8 415.2 44

 45 FL543140005 Life insurance reserves 2122.4 2248.9 2122.6 2161.3 2195.6 2248.9 2237.6 2278.7 2293.5 45

 46 FL583150005 Pension entitlements 28128.9 29964.2 26892.6 28191.3 28855.2 29964.2 30364.7 31111.2 31198.2 46

 47 FL793178005 Taxes payable 172.4 164.3 162.3 168.5 161.8 164.3 151.6 143.0 150.9 47

 48 LM793192305 Foreign direct investment: intercompany debt 170.6 178.1 167.9 167.2 168.8 178.1 175.8 174.5 169.3 48

 49 FL793190005 Miscellaneous liabilities 8489.6 9117.8 8701.6 8873.3 8959.1 9117.8 9574.1 9672.8 9807.4 49

 Memo:

 50 LM793164105 Corporate equities (market value) (2) 11485.5 12407.5 8676.7 10019.3 10548.6 12407.5 13815.4 15211.1 15336.5 50

 51 LM662090003 Equity in noncorporate business 83.5 90.3 84.8 88.5 87.1 90.3 93.8 98.0 99.6 51

 52 LM793192105 Foreign direct investment: equity 1170.8 1428.7 928.7 1115.9 1207.0 1428.7 1508.2 1615.5 1606.1 52

(1) Sum of financial sectors shown on tables L.109 through L.132.

(1) Corporate equities outstanding detail is not available for financial subsectors and not shown on tables L.109 through L.132.
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L.109 Monetary Authority (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL714090005 Total financial assets 4379.1 7656.1 6179.5 7364.0 7402.6 7656.1 7768.5 8257.6 8600.7 1

 2 FL713011005 U.S. official reserve assets 31.6 33.1 31.4 31.6 32.3 33.1 31.9 32.0 31.7 2

 3 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 FL713012003 Treasury currency 50.1 50.5 50.2 50.3 50.4 50.5 50.5 50.6 50.8 4

 5 FL713022003 Federal Reserve float -0.6 -0.6 -0.7 -0.7 -1.3 -0.6 -1.1 -1.1 -0.7 5

 6 FL713068705 Interbank loans 0.0 44.6 76.6 83.5 66.6 44.6 41.4 41.8 16.6 6

 7 FL713068703 Discount window (2) 0.0 1.6 49.1 7.2 3.5 1.6 0.8 0.5 0.8 7

 8 FL763069143 AMLF and MMLF loans (3) 0.0 2.0 27.5 11.8 3.9 2.0 0.1 0.0 0.0 8

 9 FL713068725 PPPLF loans (4) 0.0 41.0 0.0 64.5 59.3 41.0 40.4 41.3 15.8 9

 10 FL712051000 Security repurchase agreements 255.6 0.0 262.7 58.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM714022005 Debt securities (5) 4011.9 7422.2 5312.9 6847.7 7163.7 7422.2 7548.3 8010.8 8399.6 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 2540.7 5254.6 3757.4 4807.9 5056.0 5254.6 5273.2 5596.5 5811.5 13

 14 LM713061113 Treasury bills 168.5 326.0 325.9 325.9 326.0 326.0 326.0 326.0 326.1 14

 15 LM713061125 Other Treasury securities 2372.3 4928.6 3431.5 4481.9 4730.0 4928.6 4947.2 5270.5 5485.4 15

 16 LM713061705 Agency- and GSE-backed securities 1471.1 2167.7 1555.5 2039.9 2107.8 2167.7 2275.1 2414.3 2588.1 16

 17 LM713061903 Mortgage-backed securities 1467.8 2164.1 1551.9 2036.2 2104.2 2164.1 2271.8 2410.9 2584.8 17

 18 LM713061703 Other agency- and GSE-backed securities 3.3 3.5 3.6 3.6 3.6 3.5 3.3 3.4 3.4 18

 19 FL713068005 Loans (depository institution loans n.e.c.) 0.0 52.2 58.7 30.9 31.7 52.2 58.7 86.2 65.1 19

 20 FL713068813 Households (TALF I) (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL713068665 Brokers and dealers (7) 0.0 2.1 58.7 12.1 3.4 2.1 0.1 0.0 0.0 21

 22 FL713068863 Finance companies (PPPLF) (4) 0.0 9.4 0.0 3.7 8.3 9.4 19.7 49.3 43.3 22

 23 FL713068505 Other financial business (8) 0.0 40.7 0.0 15.1 20.0 40.7 38.9 36.9 21.8 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 25.4 49.0 382.4 257.5 54.0 49.0 33.4 32.1 32.4 25

 26 FL713091103 Nonofficial foreign currencies (10) 3.7 17.9 357.7 226.9 23.9 17.9 2.5 0.6 0.3 26

 27 FL713093005 Other 21.7 31.1 24.7 30.6 30.1 31.1 30.9 31.5 32.1 27

 28 FL714190005 Total liabilities 4216.6 7300.3 5786.3 6947.5 6996.3 7300.3 7688.8 8087.1 8467.7 28

 29 FL713113003 Depository institution reserves 1548.8 2994.9 2474.3 2787.0 2743.2 2994.9 3672.7 3511.6 3859.2 29

 30 FL703025005 Vault cash of depository institutions 83.4 99.2 99.0 92.0 90.0 99.2 97.5 92.3 89.2 30

 31 FL713120005 Checkable deposits and currency 2207.3 3945.7 2593.2 3792.1 3914.6 3945.7 3521.7 3178.2 2570.9 31

 32 FL713123005 Due to federal government 404.0 1728.6 515.6 1722.1 1781.7 1728.6 1122.0 852.0 215.2 32

 33 FL713123023 Treasury cash holdings 0.2 0.0 0.3 0.1 0.0 0.0 0.1 0.0 0.1 33

 34 FL713123030 Treasury general deposit account 403.9 1728.6 515.3 1722.0 1781.7 1728.6 1122.0 851.9 215.2 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 12.5 51.0 120.0 42.0 25.5 51.0 134.1 28.6 33.2 36

 37 FL713129005 Due to other financial business (11) 61.2 154.2 160.4 133.7 145.9 154.2 185.8 201.1 208.8 37

 38 FL713122605 Due to rest of the world 5.2 21.9 17.4 16.3 18.9 21.9 33.2 5.3 5.7 38

 39 FL713125005 Currency outside banks 1724.2 1989.9 1779.7 1878.1 1942.5 1989.9 2046.5 2091.1 2108.0 39

 40 FL712151003 Security repurchase agreements 336.6 216.1 569.1 233.0 205.2 216.1 352.2 1260.9 1905.2 40

 41 FL712151103 Reverse repurchase agreement operations (12) 64.1 9.7 284.9 1.0 0.9 9.7 134.3 991.9 1604.9 41

 42 FL712151115 Other (13) 272.6 206.4 284.2 232.0 204.4 206.4 217.9 269.0 300.3 42

 43 FL713190005 Miscellaneous liabilities 40.4 44.4 50.8 43.5 43.2 44.4 44.7 44.0 43.2 43

 44 FL313094213 Treasury contributions to MMLF 0.0 1.5 0.0 1.5 1.5 1.5 1.5 0.0 0.0 44

 45 FL713164003 Federal Reserve Bank stock 31.7 32.4 32.0 32.0 32.4 32.4 32.5 32.8 33.1 45

 46 FL713193005 Other 8.7 10.5 18.8 10.0 9.3 10.5 10.7 11.2 10.1 46

 Memo:

 47 FL714022065 Amortized cost of debt securities 3851.3 7068.2 4921.6 6433.2 6759.3 7068.2 7470.8 7842.5 8271.0 47

 48 FL713061163 Treasury securities 2401.6 4955.9 3421.1 4455.4 4705.5 4955.9 5210.3 5450.1 5702.4 48

 49 FL713061765 Agency- and GSE-backed securities 1449.6 2112.3 1500.6 1977.8 2053.8 2112.3 2260.5 2392.4 2568.6 49

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(3) Loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) and the

 Money Market Mutual Fund Liquidity Facility (MMLF). The AMLF was dissolved in 2010:Q1.

(4) Loans extended to depository institutions (line 9) and finance companies (line 22) through the Paycheck Protection Program Liquidity Facility (PPPLF).

(5) Shown at estimated fair value.

(6) Loans extended to financial institutions such as domestic hedge funds through the 2008 Term Asset-Backed Securities Loan Facility (TALF I).

(7) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF), AMLF (2008-2010), and MMLF (2020).

(8) Loans extended to Federal Reserve funding, credit, and liquidity, facility special purpose vehicles created in response to the 2008 Financial Crisis and COVID-19 pandemic.

(9) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assuance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. Series is zero after 2010:Q4.

(10) Reciprocal currency arrangements (swap lines) with foreign central banks.

(11) Deposits of designated financial market utilities (DFMU) and deposits of Federal Reserve facility LLC’s special purpose vehicles.

(12) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(13) Includes reverse repurchase agreements conducted through the Federal Reserve’s Foreign Repo Pool.
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L.110 Private Depository Institutions (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL704090005 Total financial assets 20056.1 23448.2 21923.5 22775.7 22901.5 23448.2 24214.7 24386.8 25114.6 1

 2 FL703025005 Vault cash 83.4 99.2 99.0 92.0 90.0 99.2 97.5 92.3 89.2 2

 3 FL713113003 Reserves at Federal Reserve 1548.8 2994.9 2474.3 2787.0 2743.2 2994.9 3672.7 3511.6 3859.2 3

 4 FL702050005 Federal funds and security repos 738.3 862.5 659.2 863.2 835.0 862.5 602.5 576.5 586.7 4

 5 LM704022005 Debt securities 4647.3 5790.2 4881.3 5228.9 5516.3 5790.2 6197.9 6447.0 6699.6 5

 6 FL703069175 Open market paper 0.7 2.3 28.7 12.4 4.2 2.3 0.3 0.1 0.1 6

 7 LM703061105 Treasury securities 879.3 1203.3 894.3 1103.5 1187.0 1203.3 1263.3 1346.1 1455.7 7

 8 LM703061705 Agency- and GSE-backed securities 2634.4 3375.7 2823.8 2920.8 3095.6 3375.7 3606.3 3727.1 3835.9 8

 9 LM703062005 Municipal securities 478.3 522.8 491.4 510.0 514.5 522.8 527.7 541.1 548.2 9

 10 LM703063005 Corporate and foreign bonds 654.6 686.1 643.0 682.2 715.1 686.1 800.3 832.5 859.7 10

 11 FL704023005 Loans 11727.0 12095.9 12301.3 12329.9 12160.2 12095.9 12023.2 12070.3 12183.8 11

 12 FL703068005 Depository institution loans n.e.c. 3803.1 4163.8 4392.0 4448.6 4240.5 4163.8 4181.5 4105.5 4075.0 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 5654.9 5741.4 5704.3 5738.6 5766.7 5741.4 5705.6 5751.6 5841.8 14

 15 FL703066005 Consumer credit 2269.0 2190.7 2205.1 2142.7 2153.0 2190.7 2136.1 2213.3 2267.0 15

 16 LM703064105 Corporate equities 147.7 160.1 95.9 120.6 133.0 160.1 176.5 191.1 184.6 16

 17 LM703064205 Mutual fund shares 64.9 68.1 48.8 55.7 59.5 68.1 74.1 79.1 77.7 17

 18 FL763040005 Life insurance reserves 178.8 184.8 179.7 181.0 182.8 184.8 186.9 191.6 193.9 18

 19 LM763092000 U.S. direct investment abroad 303.6 327.4 234.1 272.8 288.5 327.4 344.4 369.1 373.5 19

 20 FL703090005 Miscellaneous assets 616.4 865.0 949.9 844.6 893.0 865.0 838.9 858.1 866.3 20

 21 FL704190005 Total liabilities 20386.0 23541.0 22179.1 22993.8 23018.9 23541.0 24364.1 24530.9 25199.9 21

 22 FL704110005 Net interbank liabilities 79.7 164.1 490.1 331.9 247.5 164.1 59.1 53.0 176.2 22

 23 FL703127005 Checkable deposits 2648.7 5182.9 3178.7 3879.2 4012.3 5182.9 5512.4 5949.0 6274.5 23

 24 FL703130005 Time and savings deposits 12884.6 13679.8 13500.0 14171.0 14212.6 13679.8 14194.9 13989.4 14137.5 24

 25 FL702150005 Federal funds and security repos 717.1 715.9 788.3 688.7 719.9 715.9 745.0 685.1 718.4 25

 26 FL704122005 Debt securities 248.2 306.9 284.1 285.6 287.6 306.9 324.5 325.5 317.3 26

 27 FL703169175 Open market paper 106.9 135.1 131.1 127.8 125.7 135.1 147.1 148.1 143.7 27

 28 FL763163005 Corporate bonds 141.3 171.8 152.9 157.8 161.9 171.8 177.4 177.4 173.6 28

 29 FL703169005 Loans (other loans and advances) 537.2 295.6 677.9 430.8 354.5 295.6 268.9 245.1 229.1 29

 30 FL763178003 Taxes payable (net) 124.2 113.0 107.6 109.9 112.3 113.0 96.3 94.4 101.1 30

 31 LM753192305 Foreign direct investment: intercompany debt 26.1 24.4 25.2 24.4 24.4 24.4 23.3 21.5 20.1 31

 32 FL703190005 Miscellaneous liabilities 3120.3 3058.5 3127.4 3072.3 3047.8 3058.5 3139.9 3167.9 3225.6 32

 33 FL763194735 Investment by holding companies 2233.5 2306.1 2197.0 2225.0 2252.7 2306.1 2320.4 2386.3 2430.9 33

 34 FL753194503 Investment by other financial businesses 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 125.8 34

 35 FL703193005 Other 767.2 660.4 808.0 735.8 694.0 660.4 685.3 664.8 668.9 35

 Memo:

 36 LM753192103 Foreign direct investment: equity 389.3 454.3 309.4 368.1 398.9 454.3 477.6 491.0 479.5 36

 37 FL763066303 Consumer leases not included above (2) 13.1 13.5 13.4 13.3 13.5 13.5 13.4 13.5 13.5 37

 38 FL703139105 Uninsured deposits (3) 6719.6 8477.2 7466.9 8054.2 8120.0 8477.2 8811.9 9062.3 9409.8 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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L.111 U.S.-Chartered Depository Institutions

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL764090005 Total financial assets 16332.7 19412.9 17647.7 18715.7 18844.6 19412.9 19893.0 20083.8 20572.5 1

 2 FL763025000 Vault cash 83.4 99.2 99.0 91.9 90.0 99.2 97.5 92.3 89.2 2

 3 FL763013005 Reserves at Federal Reserve 907.3 2189.8 1476.5 1967.1 1918.0 2189.8 2602.5 2474.5 2658.3 3

 4 FL762050005 Federal funds and security repos 358.5 538.3 331.3 560.3 498.1 538.3 294.3 300.1 287.4 4

 5 LM764022005 Debt securities 4083.5 5124.2 4271.9 4588.3 4866.7 5124.2 5485.2 5740.5 5972.4 5

 6 FL763069175 Open market paper 0.0 2.0 27.5 11.8 3.9 2.0 0.1 0.0 0.0 6

 7 LM763061100 Treasury securities 704.1 1044.1 724.4 926.7 1019.5 1044.1 1111.0 1195.5 1297.5 7

 8 LM763061705 Agency- and GSE-backed securities 2408.2 3061.0 2582.8 2650.3 2804.6 3061.0 3233.7 3357.3 3453.8 8

 9 LM763061803 Residential mortgage pass-through securities 1532.2 1943.3 1663.8 1678.3 1774.0 1943.3 2083.7 2170.7 2240.1 9

 10 LM763061503 Commercial mortgage pass-through securities 149.1 201.9 161.1 174.0 184.2 201.9 207.8 220.9 226.6 10

 11 LM763061603 Residential CMOs and other structured MBS 427.9 547.8 448.8 478.1 499.8 547.8 554.9 554.7 563.8 11

 12 LM763061403 Commercial CMOs and other structured MBS 178.1 238.9 197.0 210.4 227.8 238.9 247.7 261.1 268.7 12

 13 LM763061795 Other 121.0 129.2 112.1 109.6 118.8 129.2 139.6 150.0 154.7 13

 14 LM763062000 Municipal securities 471.7 512.6 484.0 501.5 504.9 512.6 516.8 529.6 536.4 14

 15 LM763063005 Corporate and foreign bonds 499.5 504.4 453.1 498.1 533.9 504.4 623.7 658.1 684.7 15

 16 LM763063673 Priv. residential mortgage pass-through securities 5.1 4.2 5.4 5.2 4.7 4.2 4.9 4.9 5.0 16

 17 LM763063653 Priv. commercial mortgage pass-through securities 2.7 2.9 2.6 2.7 2.9 2.9 3.0 3.0 3.1 17

 18 LM763063663 Priv. residential CMOs and other structured MBS 34.6 39.0 36.5 39.9 39.9 39.0 40.7 42.1 48.8 18

 19 LM763063693 Priv. commercial CMOs and other structured MBS 42.3 42.6 43.1 44.0 42.7 42.6 43.9 47.8 50.3 19

 20 LM763063095 Other 414.7 415.6 365.6 406.3 443.8 415.6 531.1 560.3 577.4 20

 21 FL764023005 Loans 9784.9 10074.8 10188.9 10257.4 10132.7 10074.8 10017.3 10041.1 10099.8 21

 22 FL763068005 Depository institution loans n.e.c. 3026.6 3361.8 3458.5 3572.8 3426.6 3361.8 3394.1 3320.3 3264.1 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 4987.4 5027.5 5020.5 5040.3 5057.0 5027.5 4990.0 5019.9 5094.0 24

 25 FL763066000 Consumer credit 1771.0 1685.6 1709.9 1644.4 1649.2 1685.6 1633.2 1700.9 1741.7 25

 26 LM763064105 Corporate equities 147.7 160.1 95.9 120.6 133.0 160.1 176.5 191.1 184.6 26

 27 LM763064203 Mutual fund shares 61.6 63.4 45.6 51.9 55.4 63.4 68.1 72.2 70.4 27

 28 FL763040005 Life insurance reserves 178.8 184.8 179.7 181.0 182.8 184.8 186.9 191.6 193.9 28

 29 LM763092000 U.S. direct investment abroad 303.6 327.4 234.1 272.8 288.5 327.4 344.4 369.1 373.5 29

 30 FL763090005 Miscellaneous assets 423.5 650.9 724.9 624.3 679.4 650.9 620.3 611.4 643.0 30

 31 FL764190005 Total liabilities 16889.9 19697.8 18159.6 19137.9 19180.7 19697.8 20248.0 20484.7 20951.4 31

 32 FL764110005 Net interbank liabilities 7.7 11.8 67.4 127.8 93.7 11.8 -98.1 -63.0 -92.1 32

 33 FL713022003 Federal Reserve float -0.6 -0.6 -0.7 -0.7 -1.3 -0.6 -1.1 -1.1 -0.7 33

 34 FL713068715 Borrowing from Federal Reserve banks 0.0 44.2 76.6 83.0 66.1 44.2 41.1 41.7 16.5 34

 35 FL764112005 To domestic banks -7.0 -3.4 -20.7 -7.7 -2.7 -3.4 3.0 4.4 3.1 35

 36 FL764116005 To foreign banks 15.3 -28.4 12.2 53.2 31.7 -28.4 -141.2 -108.0 -111.0 36

 37 FL763127005 Checkable deposits 2191.5 4572.8 2649.7 3303.4 3416.4 4572.8 4803.2 5236.0 5547.3 37

 38 FL763123005 Federal government 1.6 2.7 1.7 1.9 2.4 2.7 2.4 4.5 3.6 38

 39 FL763128000 State and local government 139.1 229.9 142.3 167.3 178.1 229.9 248.6 296.6 318.4 39

 40 FL763129205 Private domestic 1971.8 4278.3 2414.7 3063.7 3172.9 4278.3 4493.6 4858.8 5147.6 40

 41 FL763122605 Rest of the world 78.9 61.9 91.0 70.5 63.0 61.9 58.6 76.2 77.7 41

 42 FL763130005 Time and savings deposits 10805.4 11461.2 11430.4 11959.9 12004.0 11461.2 11865.3 11660.8 11806.5 42

 43 FL762150005 Federal funds and security repos 167.0 170.9 191.1 190.5 179.0 170.9 187.5 143.1 150.7 43

 44 FL764122005 Debt securities 209.7 271.0 232.9 242.3 251.4 271.0 283.8 283.4 276.5 44

 45 FL763169175 Open market paper 68.4 99.2 80.0 84.5 89.5 99.2 106.3 106.0 102.9 45

 46 FL763163005 Corporate bonds 141.3 171.8 152.9 157.8 161.9 171.8 177.4 177.4 173.6 46

 47 FL763169305 Loans (other loans and advances) 484.9 252.3 615.1 380.3 306.8 252.3 228.6 205.9 189.6 47

 48 FL763178003 Taxes payable (net) 124.2 113.0 107.6 109.9 112.3 113.0 96.3 94.4 101.1 48

 49 FL763190005 Miscellaneous liabilities 2899.4 2844.8 2865.3 2823.9 2817.0 2844.8 2881.3 2924.0 2971.7 49

 50 FL763194735 Investment by holding companies 2233.5 2306.1 2197.0 2225.0 2252.7 2306.1 2320.4 2386.3 2430.9 50

 51 FL763193005 Other 665.9 538.6 668.3 598.9 564.3 538.6 561.0 537.7 540.8 51

 Memo:

 52 FL763066303 Consumer leases not included above (1) 13.1 13.5 13.4 13.3 13.5 13.5 13.4 13.5 13.5 52

 53 FL763139105 Uninsured deposits (2) 5484.1 7199.3 6225.9 6734.9 6814.8 7199.3 7436.7 7691.8 8045.8 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, December 9, 2021 89

L.112 Foreign Banking Offices in U.S. (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL754090005 Total financial assets 2093.6 2102.7 2573.4 2227.9 2184.5 2102.7 2265.3 2225.1 2438.5 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 554.1 602.5 873.8 644.6 649.6 602.5 811.0 799.1 966.8 3

 4 FL752050005 Federal funds and security repos 379.0 323.7 327.2 302.2 336.1 323.7 307.7 276.2 299.1 4

 5 LM754022005 Debt securities 309.0 313.5 340.2 334.4 319.4 313.5 294.7 289.4 289.5 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 121.1 99.8 116.4 117.1 109.0 99.8 86.2 83.8 85.5 7

 8 LM753061703 Agency- and GSE-backed securities 53.2 60.7 59.4 59.7 56.1 60.7 62.2 58.6 59.1 8

 9 LM753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM753063005 Corporate and foreign bonds 134.7 153.0 164.4 157.7 154.3 153.0 146.3 147.0 144.8 10

 11 FL754023005 Loans 767.8 785.6 926.3 859.7 797.6 785.6 768.7 767.2 796.6 11

 12 FL753068005 Depository institution loans n.e.c. 687.4 704.6 843.7 777.7 716.1 704.6 688.4 685.8 712.8 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 80.4 81.0 82.6 82.0 81.5 81.0 80.4 81.4 83.8 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 83.7 77.5 105.9 87.0 81.7 77.5 83.0 93.2 86.6 16

 17 FL754190005 Total liabilities 2033.9 2095.7 2491.3 2203.7 2147.9 2095.7 2242.0 2152.3 2332.4 17

 18 FL754110005 Net interbank liabilities 112.6 188.8 468.0 243.5 193.5 188.8 187.4 148.4 306.5 18

 19 FL754116005 To foreign banks 108.3 181.3 461.2 234.4 190.1 181.3 179.9 140.6 291.8 19

 20 FL754112005 To domestic banks 4.4 7.5 6.8 9.1 3.4 7.5 7.5 7.8 14.7 20

 21 FL753127005 Checkable deposits 199.4 256.3 251.4 256.1 265.8 256.3 306.8 296.0 304.9 21

 22 FL753130005 Time and savings deposits 908.8 858.0 859.3 917.5 883.8 858.0 893.1 885.8 867.2 22

 23 FL752150005 Federal funds and security repos 550.0 545.0 597.2 498.2 540.9 545.0 557.5 542.0 567.7 23

 24 FL753169175 Debt securities (open market paper) 38.5 35.9 51.1 43.3 36.2 35.9 40.7 42.1 40.8 24

 25 LM753192305 Foreign direct investment: intercompany debt 26.1 24.4 25.2 24.4 24.4 24.4 23.3 21.5 20.1 25

 26 FL753190005 Miscellaneous liabilities 198.4 187.3 239.1 220.8 203.3 187.3 233.3 216.6 225.3 26

 27 FL753194503 Investment by other financial businesses 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 125.8 27

 28 FL753193005 Other 78.9 95.3 116.7 109.3 102.3 95.3 99.0 99.8 99.5 28

 Memo:

 29 LM753192103 Foreign direct investment: equity 389.3 454.3 309.4 368.1 398.9 454.3 477.6 491.0 479.5 29

 30 FL753139105 Uninsured deposits (2) 1108.2 1114.4 1110.7 1173.6 1149.6 1114.4 1199.9 1181.8 1172.1 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL744090005 Total financial assets 95.6 109.5 97.6 107.4 110.3 109.5 116.9 123.7 115.4 1

 2 FL743013003 Reserves at Federal Reserve 4.4 14.7 8.0 13.4 16.0 14.7 14.5 23.2 22.4 2

 3 LM744022003 Debt securities 33.6 41.3 34.0 38.8 39.3 41.3 43.8 42.4 47.3 3

 4 LM743061103 Treasury securities 16.6 13.8 14.7 17.6 15.1 13.8 15.3 15.5 18.4 4

 5 LM743061703 Agency- and GSE-backed securities 8.0 15.0 7.2 9.1 12.2 15.0 16.6 17.1 17.2 5

 6 LM743062003 Municipal securities 1.2 0.1 1.2 1.2 1.0 0.1 0.1 0.1 0.1 6

 7 LM743063005 Corporate and foreign bonds 7.8 12.5 10.9 10.9 10.9 12.5 11.8 9.7 11.7 7

 8 FL744023003 Loans 40.7 41.6 42.6 44.7 43.3 41.6 39.2 38.3 36.9 8

 9 FL743068005 Depository institution loans n.e.c. 18.1 18.7 20.1 21.7 20.2 18.7 17.4 17.0 15.7 9

 10 FL743065103 One-to-four-family residential mortgages 13.2 13.5 13.0 13.4 13.7 13.5 12.8 12.4 12.0 10

 11 FL743065505 Commercial mortgages 9.4 9.4 9.5 9.6 9.4 9.4 9.0 8.9 9.2 11

 12 FL743093005 Miscellaneous assets 17.0 11.9 13.1 10.5 11.8 11.9 19.4 19.8 8.9 12

 13 FL744190005 Total liabilities 86.9 101.5 89.2 98.6 102.4 101.5 108.9 116.1 107.7 13

 14 FL744110005 Net interbank liabilities -1.6 -1.4 -2.0 -2.0 -1.5 -1.4 -1.3 -1.3 -1.4 14

 15 FL743127003 Checkable deposits 45.7 56.7 46.5 54.4 56.5 56.7 61.3 68.1 64.7 15

 16 FL743130003 Time and savings deposits 39.8 42.9 41.5 42.7 43.4 42.9 46.2 47.0 42.1 16

 17 FL743193005 Miscellaneous liabilities 3.0 3.2 3.1 3.5 4.1 3.2 2.7 2.4 2.3 17

 Memo:

 18 FL743139105 Uninsured deposits (2) 33.6 44.0 34.3 40.3 43.8 44.0 46.9 54.2 53.2 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 1534.2 1823.2 1604.8 1724.9 1762.2 1823.2 1939.6 1954.2 1988.2 1

 2 FL473013005 Reserves at Federal Reserve 83.0 188.0 116.0 162.0 159.7 188.0 244.6 214.8 211.9 2

 3 FL472050053 Federal funds and security repos 0.8 0.5 0.8 0.8 0.8 0.5 0.5 0.3 0.2 3

 4 LM474022005 Debt securities 221.3 311.1 235.2 267.5 290.9 311.1 374.2 374.8 390.4 4

 5 FL473069153 Open market paper 0.7 0.3 1.2 0.7 0.3 0.3 0.2 0.1 0.1 5

 6 LM473061105 Treasury securities 37.5 45.5 38.7 42.2 43.4 45.5 50.8 51.3 54.4 6

 7 LM473061705 Agency- and GSE-backed securities 165.0 239.0 174.4 201.8 222.7 239.0 293.9 294.1 305.8 7

 8 LM473062005 Municipal securities 5.5 10.1 6.3 7.4 8.6 10.1 10.9 11.5 11.7 8

 9 LM473063005 Corporate and foreign bonds 12.6 16.2 14.6 15.5 16.0 16.2 18.5 17.8 18.5 9

 10 FL474023000 Loans 1133.6 1193.9 1143.6 1168.1 1186.6 1193.9 1198.0 1223.8 1250.6 10

 11 FL473068005 Depository institution loans n.e.c. 71.0 78.7 69.7 76.4 77.6 78.7 81.7 82.3 82.5 11

 12 FL473065100 One-to-four-family residential mortgages 564.5 610.1 578.7 593.4 605.2 610.1 613.4 629.0 642.8 12

 13 FL473066000 Consumer credit 498.0 505.1 495.2 498.3 503.9 505.1 502.9 512.4 525.3 13

 14 LM473064205 Mutual fund shares 3.3 4.8 3.2 3.8 4.0 4.8 6.1 6.9 7.3 14

 15 FL473090005 Miscellaneous assets 92.2 124.8 106.0 122.8 120.1 124.8 116.2 133.7 127.8 15

 16 FL474190005 Total liabilities 1375.4 1646.1 1439.2 1553.5 1587.9 1646.1 1765.3 1777.8 1808.4 16

 17 FL474110005 Net interbank liabilities -39.1 -35.2 -43.3 -37.4 -38.2 -35.2 -28.9 -31.1 -36.8 17

 18 FL473127003 Checkable deposits 212.1 297.1 231.0 265.4 273.7 297.1 341.1 348.9 357.7 18

 19 FL473130005 Time and savings deposits 1130.6 1317.7 1168.7 1250.9 1281.3 1317.7 1390.2 1395.8 1421.7 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) 52.3 43.3 62.9 50.5 47.7 43.3 40.3 39.2 39.4 21

 22 FL473193005 Miscellaneous liabilities 19.4 23.3 19.9 24.1 23.3 23.3 22.6 25.0 26.4 22

 Memo:

 23 FL473139103 Uninsured deposits (1) 93.7 119.5 96.0 105.5 111.8 119.5 128.5 134.6 138.7 23

(1) Includes checkable deposits (line 18) and time and savings deposits (line 19) not insured by the National Credit Union Share Insurance Fund.
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Z.1, December 9, 2021 91

L.115 Property-Casualty Insurance Companies

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL514090005 Total financial assets 2687.8 2879.0 2529.4 2679.1 2758.4 2879.0 2893.7 3010.5 3027.2 1

 2 FL513020005 Checkable deposits and currency 47.6 50.2 44.2 54.5 46.3 50.2 57.5 54.0 63.5 2

 3 FL513034005 Money market fund shares 24.7 34.7 24.7 32.8 30.1 34.7 38.5 32.6 41.3 3

 4 FL512051005 Security repurchase agreements 2.0 2.2 2.3 3.0 3.1 2.2 2.3 2.5 2.2 4

 5 LM514022005 Debt securities 1192.8 1270.2 1184.1 1248.6 1270.6 1270.2 1243.6 1296.6 1293.3 5

 6 FL513069105 Open market paper 9.7 8.9 11.1 13.4 13.3 8.9 9.2 10.2 9.1 6

 7 LM513061105 Treasury securities 153.4 157.5 163.1 167.4 170.7 157.5 162.7 182.9 180.4 7

 8 LM513061705 Agency- and GSE-backed securities 149.7 145.3 151.0 143.9 148.7 145.3 139.5 136.6 136.3 8

 9 LM513062005 Municipal securities 285.2 297.9 281.5 287.5 291.1 297.9 294.3 296.9 293.0 9

 10 LM513063005 Corporate and foreign bonds 594.8 660.7 577.4 636.3 646.8 660.7 637.9 669.9 674.6 10

 11 FL513065505 Loans (commercial mortgages) 22.9 24.3 23.6 23.7 23.5 24.3 24.3 25.5 26.5 11

 12 LM513064105 Corporate equities 493.9 518.6 399.8 431.7 461.9 518.6 547.0 586.4 591.3 12

 13 LM513064205 Mutual fund shares 25.8 29.7 21.8 25.6 28.0 29.7 31.0 31.9 31.0 13

 14 FL513070005 Trade receivables 192.7 210.7 201.0 212.8 224.9 210.7 218.2 224.3 233.5 14

 15 LM513092003 U.S. direct investment abroad 192.2 216.0 151.7 183.6 196.2 216.0 235.3 250.6 252.1 15

 16 FL513090005 Miscellaneous assets 493.3 522.5 476.3 462.9 473.8 522.5 495.9 505.9 492.5 16

 17 FL513092403 Equity in FHLB 0.2 0.7 0.3 0.4 0.8 0.7 0.7 0.7 0.6 17

 18 FL513076005 Policy payables (1) 318.6 322.4 319.1 321.2 324.8 322.4 330.2 336.3 349.6 18

 19 FL513093005 Other 174.5 199.3 156.9 141.3 148.2 199.3 165.0 169.0 142.3 19

 20 FL514190005 Total liabilities 1708.9 1802.2 1715.2 1757.8 1808.5 1802.2 1859.0 1899.0 1973.5 20

 21 FL512151003 Security repurchase agreements 0.2 0.2 0.2 0.3 0.3 0.2 0.3 0.3 0.2 21

 22 FL513169333 Loans (other loans and advances) 3.5 10.0 6.0 6.3 11.2 10.0 9.3 8.4 7.5 22

 23 FL513170005 Trade payables 79.5 90.5 80.8 87.1 97.4 90.5 92.7 94.4 98.2 23

 24 FL513178005 Taxes payable 12.9 13.4 15.6 15.9 12.2 13.4 15.0 12.1 11.3 24

 25 LM513192305 Foreign direct investment: intercompany debt 13.1 12.2 12.5 11.7 11.5 12.2 11.6 11.3 10.8 25

 26 FL513190005 Miscellaneous liabilities 1599.7 1675.8 1600.1 1636.6 1675.8 1675.8 1730.0 1772.5 1845.6 26

 27 FL513194733 Investment by parent companies 6.8 2.9 6.7 1.9 3.0 2.9 3.7 4.4 4.4 27

 28 FL513176005 Policy payables 1338.2 1393.5 1345.2 1364.5 1394.8 1393.5 1427.0 1453.3 1511.0 28

 29 FL513193005 Other 254.6 279.5 248.2 270.3 278.0 279.5 299.4 314.8 330.2 29

 Memo:

 30 LM513192103 Foreign direct investment: equity 195.7 227.7 153.0 176.1 188.1 227.7 238.3 258.1 258.0 30

 31 FL513200003 Securities lending (2) 6.0 5.5 5.9 6.0 6.1 5.5 6.7 8.6 8.5 31

 32 FL514090023 Financial guaranty insurers’ total assets (3) 21.8 20.9 20.8 21.1 21.0 20.9 21.6 21.0 20.2 32

 33 FL514090033 Mortgage guaranty insurers’ total assets (3) 27.2 30.1 27.1 28.7 29.2 30.1 31.0 31.7 32.0 33

 34 FL513176015 Direct reserve 1124.9 1175.2 1131.3 1147.8 1173.5 1175.2 1203.4 1225.6 1274.3 34

 35 FL513176025 Reinsured to U.S. reinsurers 152.0 159.1 152.9 156.9 163.5 159.1 163.0 166.0 172.6 35

 36 FL263176005 Reinsured to non-U.S. reinsurers 166.6 163.3 166.1 164.3 161.3 163.3 167.2 170.3 177.1 36

 37 FL263076005 Reinsured from non-U.S. reinsurers 61.3 59.1 61.0 59.8 57.8 59.1 60.6 61.7 64.1 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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92 Z.1, December 9, 2021

L.116 Life Insurance Companies (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL544090005 Total financial assets 8514.5 9420.3 8283.4 8854.3 9031.5 9420.3 9264.8 9570.9 9570.8 1

 2 FL543020005 Checkable deposits and currency 94.7 127.7 143.6 148.5 132.1 127.7 121.3 140.2 138.4 2

 3 FL543034005 Money market fund shares 58.6 66.5 88.4 84.6 73.0 66.5 62.5 66.7 62.4 3

 4 FL542051075 Security repurchase agreements 6.3 8.2 9.6 8.5 10.6 8.2 7.0 7.1 7.8 4

 5 LM544022005 Debt securities 4023.0 4431.5 3964.5 4257.3 4345.0 4431.5 4221.9 4333.3 4369.0 5

 6 FL543069105 Open market paper 28.8 34.0 38.3 34.8 40.4 34.0 31.1 31.8 33.8 6

 7 LM543061105 Treasury securities 215.3 240.7 233.2 235.2 242.6 240.7 225.4 233.4 237.3 7

 8 LM543061705 Agency- and GSE-backed securities 388.4 366.4 397.5 381.9 377.4 366.4 348.9 348.2 347.7 8

 9 LM543062005 Municipal securities 215.0 234.2 214.8 222.1 227.4 234.2 231.6 234.1 232.2 9

 10 LM543063005 Corporate and foreign bonds 3175.5 3556.2 3080.7 3383.2 3457.2 3556.2 3385.0 3485.8 3518.0 10

 11 FL544023005 Loans 780.6 807.8 792.8 794.7 796.4 807.8 809.8 820.2 836.0 11

 12 FL543069005 Other loans and advances 161.4 163.1 166.2 163.8 163.9 163.1 163.8 164.7 166.3 12

 13 FL543065005 Mortgages 619.2 644.7 626.6 630.9 632.6 644.7 646.0 655.5 669.6 13

 14 LM543064105 Corporate equities 644.6 729.8 556.1 623.4 658.6 729.8 750.6 776.2 773.9 14

 15 LM543064205 Mutual fund shares 1599.0 1702.1 1300.3 1487.1 1551.6 1702.1 1732.4 1827.3 1785.7 15

 16 FL543070005 Trade receivables 108.0 130.4 112.9 120.1 124.8 130.4 130.8 134.5 134.1 16

 17 FL543040005 Life insurance reserves 257.1 262.7 258.4 260.2 261.3 262.7 260.6 264.1 266.6 17

 18 FL543050005 Pension entitlements 199.5 291.3 219.7 249.1 268.3 291.3 292.3 297.2 300.8 18

 19 LM543092073 U.S. direct investment abroad 84.4 89.8 65.7 75.2 76.6 89.8 94.7 99.0 97.5 19

 20 FL543090005 Miscellaneous assets 658.8 772.4 771.3 745.6 733.2 772.4 780.9 805.4 798.7 20

 21 FL543092473 Equity in FHLB 5.2 7.8 6.0 7.0 7.3 7.8 8.5 8.7 8.7 21

 22 FL543077073 Deferred and unpaid life ins. premiums 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 37.9 22

 23 FL543095105 Other reserves 77.6 86.4 79.6 82.4 84.2 86.4 86.3 86.8 87.6 23

 24 FL543093005 Other 539.4 641.6 646.7 618.1 604.0 641.6 647.3 672.0 664.5 24

 25 FL544190005 Total liabilities 7653.7 8383.1 7551.4 7865.2 8031.5 8383.1 8406.4 8606.8 8646.1 25

 26 FL542151073 Security repurchase agreements 17.5 18.6 25.4 21.4 25.5 18.6 15.2 15.4 16.9 26

 27 FL543169373 Loans (other loans and advances) 88.7 103.9 107.7 108.2 103.6 103.9 112.3 108.8 107.3 27

 28 FL543170005 Trade payables 199.9 288.1 219.3 247.6 266.1 288.1 290.2 297.4 299.5 28

 29 FL543140005 Life insurance reserves 2122.4 2248.9 2122.6 2161.3 2195.6 2248.9 2237.6 2278.7 2293.5 29

 30 FL543150005 Pension entitlements (2) 3483.4 3803.3 3263.3 3472.3 3582.4 3803.3 3812.4 3927.0 3932.4 30

 31 FL543178075 Taxes payable 8.1 9.0 10.6 11.8 8.3 9.0 10.2 7.7 7.6 31

 32 LM543192375 Foreign direct investment: intercompany debt 12.4 13.2 12.0 11.7 11.4 13.2 12.2 12.0 10.9 32

 33 FL543190005 Miscellaneous liabilities 1721.3 1898.0 1790.4 1830.9 1838.7 1898.0 1916.2 1959.8 1977.9 33

 34 FL543194733 Investment by parent companies 5.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 FL673090543 Funding agreements backing securities (3) 92.3 113.2 98.1 102.5 109.0 113.2 123.9 138.8 147.8 35

 36 FL543195005 Other reserves (4) 426.6 445.8 429.2 435.2 442.1 445.8 448.6 449.7 456.1 36

 37 FL593095005 Unallocated insurance contracts 846.1 882.0 809.3 841.8 855.1 882.0 883.0 902.3 899.9 37

 38 FL543193005 Other 350.5 457.0 453.7 451.2 432.6 457.0 460.8 469.0 474.1 38

 Memo:

 39 LM543192173 Foreign direct investment: equity 184.5 244.7 147.8 176.5 185.8 244.7 250.4 272.7 270.2 39

 40 FL543200073 Securities lending (5) 44.7 48.1 46.4 47.0 46.8 48.1 52.3 55.4 58.3 40

 41 FL543176015 Direct reserve 6584.4 7099.6 6350.0 6635.9 6797.2 7099.6 7117.8 7301.0 7325.0 41

 42 FL543176025 Reinsured to U.S. reinsurers 733.6 860.9 761.6 802.4 829.1 860.9 859.1 874.3 880.8 42

 43 FL543076035 Reinsured to non-U.S. reinsurers 460.6 549.1 480.0 508.4 526.9 549.1 548.4 556.5 562.6 43

 44 FL543176035 Reinsured from non-U.S. reinsurers 27.0 5.4 22.2 15.3 10.8 5.4 5.4 5.5 5.6 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL544090075 Total financial assets 5732.6 6361.3 5875.1 6166.7 6234.2 6361.3 6183.1 6361.0 6384.1 1

 2 FL543020075 Checkable deposits and currency 67.6 90.3 114.9 117.0 98.0 90.3 84.3 102.4 98.8 2

 3 FL543034075 Money market fund shares 33.3 36.3 53.9 52.2 41.5 36.3 33.3 38.9 35.2 3

 4 FL542051075 Security repurchase agreements 6.3 8.2 9.6 8.5 10.6 8.2 7.0 7.1 7.8 4

 5 LM544022075 Debt securities 3569.9 3917.4 3508.3 3780.8 3854.5 3917.4 3737.0 3836.4 3849.2 5

 6 FL543069175 Open market paper 20.4 20.9 29.2 24.4 28.8 20.9 18.4 18.8 20.2 6

 7 LM543061175 Treasury securities 165.3 187.0 183.4 184.0 190.6 187.0 175.3 182.0 183.6 7

 8 LM543061775 Agency- and GSE-backed securities 289.8 266.9 301.0 284.0 279.6 266.9 252.5 249.4 244.4 8

 9 LM543062075 Municipal securities 204.1 221.5 203.7 210.5 215.3 221.5 219.2 221.4 218.9 9

 10 LM543063075 Corporate and foreign bonds 2890.3 3221.1 2791.0 3077.9 3140.2 3221.1 3071.6 3164.7 3182.1 10

 11 FL544023075 Loans 743.6 766.8 755.8 756.3 757.1 766.8 769.2 778.7 792.5 11

 12 FL543069075 Other loans and advances 161.4 163.1 166.2 163.8 163.9 163.1 163.8 164.7 166.3 12

 13 FL543065075 Mortgages 582.2 603.7 589.6 592.5 593.3 603.7 605.5 614.0 626.2 13

 14 LM543064175 Corporate equities 102.8 110.3 102.8 98.4 102.1 110.3 118.5 125.8 138.2 14

 15 LM543064275 Mutual fund shares 8.0 7.8 6.4 7.4 7.2 7.8 7.9 8.5 7.8 15

 16 FL543070075 Trade receivables 108.0 130.4 112.9 120.1 124.8 130.4 130.8 134.4 134.0 16

 17 FL543040075 Life insurance reserves 257.1 262.7 258.4 260.2 261.3 262.7 260.6 264.1 266.6 17

 18 FL543050075 Pension entitlements 196.3 289.8 216.9 246.8 266.5 289.8 290.9 295.6 299.3 18

 19 LM543092073 U.S. direct investment abroad 84.4 89.8 65.7 75.2 76.6 89.8 94.7 99.0 97.5 19

 20 FL543090075 Miscellaneous assets 555.2 651.3 669.6 644.1 634.0 651.3 648.8 670.1 657.2 20

 21 FL544190075 Total liabilities 4856.4 5309.8 5130.5 5164.1 5220.6 5309.8 5308.5 5380.7 5443.1 21

 22 FL542151073 Security repurchase agreements 17.5 18.6 25.4 21.4 25.5 18.6 15.2 15.4 16.9 22

 23 FL543169373 Loans (other loans and advances) 88.7 103.9 107.7 108.2 103.6 103.9 112.3 108.8 107.3 23

 24 FL543170075 Trade payables 198.8 287.5 218.3 246.7 265.3 287.5 289.6 296.8 298.8 24

 25 FL543140075 Life insurance reserves 1744.3 1835.4 1795.8 1797.1 1816.9 1835.4 1820.7 1844.6 1862.4 25

 26 FL543150075 Pension entitlements (1) 1409.5 1510.2 1465.1 1462.6 1487.8 1510.2 1500.6 1518.0 1536.4 26

 27 FL543178075 Taxes payable 8.1 9.0 10.6 11.8 8.3 9.0 10.2 7.7 7.6 27

 28 LM543192375 Foreign direct investment: intercompany debt 12.4 13.2 12.0 11.7 11.4 13.2 12.2 12.0 10.9 28

 29 FL543190075 Miscellaneous liabilities 1377.2 1532.1 1495.5 1504.7 1501.8 1532.1 1547.8 1577.5 1602.6 29

 Memo:

 30 LM543192173 Foreign direct investment: equity 184.5 244.7 147.8 176.5 185.8 244.7 250.4 272.7 270.2 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 2781.9 3059.0 2408.2 2687.5 2797.4 3059.0 3081.7 3210.0 3186.7 1

 2 FL543020083 Checkable deposits and currency 27.1 37.3 28.7 31.5 34.0 37.3 36.9 37.8 39.6 2

 3 FL543034385 Money market fund shares 25.2 30.2 34.5 32.5 31.4 30.2 29.2 27.7 27.2 3

 4 LM544022085 Debt securities 453.1 514.1 456.3 476.6 490.5 514.1 484.9 496.9 519.8 4

 5 FL543069183 Open market paper 8.3 13.1 9.2 10.4 11.6 13.1 12.7 13.0 13.6 5

 6 LM543061183 Treasury securities 50.0 53.7 49.7 51.2 52.0 53.7 50.1 51.4 53.7 6

 7 LM543061783 Agency- and GSE-backed securities 98.5 99.5 96.5 97.9 97.9 99.5 96.4 98.7 103.3 7

 8 LM543062083 Municipal securities 11.0 12.7 11.1 11.7 12.1 12.7 12.4 12.7 13.3 8

 9 LM543063085 Corporate and foreign bonds 285.3 335.2 289.8 305.3 317.0 335.2 313.4 321.1 335.9 9

 10 FL544023085 Loans 36.9 41.0 37.0 38.4 39.3 41.0 40.5 41.5 43.4 10

 11 FL543069483 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL543065083 Mortgages 36.9 41.0 37.0 38.4 39.3 41.0 40.5 41.5 43.4 12

 13 LM543064185 Corporate equities 541.8 619.5 453.3 525.0 556.6 619.5 632.0 650.4 635.7 13

 14 LM543064385 Mutual fund shares 1590.9 1694.3 1293.9 1479.7 1544.4 1694.3 1724.5 1818.7 1777.9 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 3.2 1.4 2.8 2.3 1.9 1.4 1.5 1.5 1.5 17

 18 FL543090085 Miscellaneous assets 103.6 121.2 101.8 101.5 99.2 121.2 132.1 135.3 141.5 18

 19 FL544190085 Total liabilities 2797.3 3073.2 2420.9 2701.0 2810.9 3073.2 3097.9 3226.1 3203.1 19

 20 FL543170085 Trade payables 1.1 0.6 1.0 0.9 0.8 0.6 0.7 0.7 0.7 20

 21 LM543140085 Life insurance reserves 378.1 413.6 326.8 364.3 378.7 413.6 416.9 434.1 431.0 21

 22 LM543150085 Pension entitlements (1) 2073.9 2293.2 1798.2 2009.7 2094.6 2293.2 2311.9 2409.0 2396.1 22

 23 FL543190085 Miscellaneous liabilities 344.1 365.9 294.8 326.1 336.9 365.9 368.5 382.3 375.3 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 23).
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L.117 Private and Public Pension Funds (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL594090005 Total financial assets (2) 24486.1 25977.8 23483.0 24573.3 25127.2 25977.8 26359.0 27016.6 27093.2 1

 2 FL593020005 Checkable deposits and currency 47.8 60.8 49.7 50.1 52.3 60.8 55.4 59.1 60.1 2

 3 FL593030005 Time and savings deposits 19.0 9.5 17.7 14.2 11.9 9.5 8.2 9.3 9.4 3

 4 FL593034005 Money market fund shares 200.4 247.2 224.9 232.8 242.1 247.2 251.6 256.6 262.4 4

 5 FL592051005 Security repurchase agreements 22.7 29.2 23.2 22.2 22.1 29.2 40.1 50.7 51.5 5

 6 LM594022005 Debt securities 4714.1 5118.4 4759.9 4866.6 4950.4 5118.4 5029.2 5199.2 5003.8 6

 7 FL593069105 Open market paper 45.9 43.5 49.4 44.3 44.2 43.5 49.4 53.3 52.6 7

 8 LM593061105 Treasury securities (3) 2935.4 3206.9 3000.1 2989.5 3074.6 3206.9 3169.2 3293.3 3108.4 8

 9 LM593061705 Agency- and GSE-backed securities 402.2 457.2 434.9 434.8 453.3 457.2 453.6 474.3 479.9 9

 10 LM593062045 Municipal securities 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM593063005 Corporate and foreign bonds 1330.5 1410.8 1275.5 1398.0 1378.2 1410.8 1357.0 1378.3 1362.9 11

 12 FL594023005 Loans 31.6 25.6 30.4 28.4 27.4 25.6 25.0 24.7 204.4 12

 13 FL313169003 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 180.6 13

 14 FL593065005 Mortgages 31.6 25.6 30.4 28.4 27.4 25.6 25.0 24.7 23.9 14

 15 LM593064105 Corporate equities 5909.5 6623.2 4738.7 5472.0 5911.9 6623.2 6957.4 7446.2 7369.8 15

 16 LM593064205 Mutual fund shares 4682.3 5169.3 3873.6 4455.1 4688.4 5169.3 5284.0 5570.7 5523.1 16

 17 FL593090005 Miscellaneous assets 8858.7 8694.6 9764.9 9432.0 9220.6 8694.6 8708.1 8400.1 8608.7 17

 18 FL593095005 Unallocated insurance contracts (4) 846.1 882.0 809.3 841.8 855.1 882.0 883.0 902.3 899.9 18

 19 FL573074005 Contributions receivable 80.1 70.2 79.4 76.6 73.7 70.2 67.9 64.3 61.0 19

 20 FL593073005 Claims of pension fund on sponsor (5) 6236.3 5934.5 7221.1 6735.8 6519.5 5934.5 5894.8 5549.9 5736.6 20

 21 FL593093005 Other 1696.2 1807.9 1655.0 1777.8 1772.2 1807.9 1862.4 1883.6 1911.1 21

 22 FL594190005 Pension entitlements (liabilities) (6) 24645.5 26160.8 23629.4 24719.0 25272.7 26160.8 26552.2 27184.2 27265.7 22

 Memo:

 Funded status of defined benefit plans:

 23 FL594190045 Pension entitlements 16110.8 16549.9 16216.8 16327.5 16438.5 16549.9 16661.0 16771.2 16881.7 23

 24 FL592000075 Funded by assets (7) 9874.5 10615.4 8995.7 9591.7 9918.9 10615.4 10766.2 11221.3 11145.1 24

 25 FL593073045 Unfunded (line 18) 6236.3 5934.5 7221.1 6735.8 6519.5 5934.5 5894.8 5549.9 5736.6 25

 26 FL153050015 Household retirement assets (8) 38294.9 41428.2 35616.6 38149.3 39342.2 41428.2 42171.7 43578.2 ND 26

 27 FL594190045 Defined benefit plans 16110.8 16549.9 16216.8 16327.5 16438.5 16549.9 16661.0 16771.2 16881.7 27

 28 FL594090055 Defined contribution plans 8534.7 9610.9 7412.5 8391.5 8834.3 9610.9 9891.2 10413.0 10384.0 28

 29 LM893131573 Individual retirement plans (IRAs) (9) 10850.0 12210.0 9365.0 10640.0 11190.0 12210.0 12555.0 13237.0 ND 29

 30 FL543150015 Annuities at life insurance companies (10) 2799.4 3057.3 2622.3 2790.3 2879.4 3057.3 3064.4 3157.0 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, December 9, 2021 95

L.118 Private Pension Funds (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL574090005 Total financial assets (2) 11042.9 12025.7 10052.7 10927.3 11329.7 12025.7 12280.7 12753.5 12740.7 1

 2 FL573020005 Checkable deposits and currency 24.1 32.2 26.8 28.7 30.5 32.2 32.7 34.1 35.2 2

 3 FL573030005 Time and savings deposits 14.5 7.2 13.4 11.5 9.5 7.2 5.9 6.7 6.7 3

 4 FL573034005 Money market fund shares 179.7 222.4 195.0 204.9 214.6 222.4 225.1 231.6 237.4 4

 5 FL572051005 Security repurchase agreements 15.8 21.1 16.7 18.1 19.5 21.1 21.9 23.4 24.7 5

 6 LM574022005 Debt securities 1565.8 1723.9 1601.1 1678.3 1692.1 1723.9 1642.8 1694.7 1703.8 6

 7 FL573069105 Open market paper 35.1 34.6 35.5 35.3 35.0 34.6 34.2 33.7 33.2 7

 8 LM573061105 Treasury securities 440.0 555.2 505.5 524.5 543.1 555.2 533.1 558.8 570.5 8

 9 LM573061705 Agency- and GSE-backed securities 224.1 252.3 245.9 238.0 244.8 252.3 250.2 260.3 266.7 9

 10 LM573063005 Corporate and foreign bonds 866.5 881.8 814.2 880.6 869.2 881.8 825.2 841.9 833.4 10

 11 FL573065005 Loans (mortgages) 23.2 17.8 21.5 20.3 19.0 17.8 17.4 16.4 15.6 11

 12 LM573064105 Corporate equities 2961.8 3343.0 2286.3 2753.5 2960.5 3343.0 3532.2 3775.9 3724.1 12

 13 LM573064205 Mutual fund shares 4307.6 4723.8 3567.8 4100.1 4315.7 4723.8 4870.4 5127.8 5083.0 13

 14 FL573090005 Miscellaneous assets 1950.4 1934.3 2323.9 2112.0 2068.4 1934.3 1932.4 1843.0 1910.1 14

 15 FL573095005 Unallocated insurance contracts (3) 592.1 615.6 562.4 588.1 595.5 615.6 615.0 629.2 626.2 15

 16 FL573074005 Contributions receivable 80.1 70.2 79.4 76.6 73.7 70.2 67.9 64.3 61.0 16

 17 FL573073005 Claims of pension fund on sponsor (4) 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 127.6 17

 18 FL573093005 Other 873.4 1029.6 921.9 958.6 995.2 1029.6 1042.9 1071.7 1095.2 18

 19 FL574190005 Pension entitlements (liabilities) (5) 11079.4 12062.2 10089.2 10963.9 11366.3 12062.2 12317.3 12790.1 12777.2 19

 Memo:

 Funded status of defined benefit plans:

 20 FL574190043 Pension entitlements 3660.9 3702.1 3671.7 3682.0 3692.0 3702.1 3712.1 3722.2 3732.2 20

 21 FL572000075 Funded by assets (6) 3256.1 3483.2 2911.6 3193.4 3288.1 3483.2 3505.6 3644.3 3604.6 21

 22 FL573073005 Unfunded (line 17) 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 127.6 22

 Total financial assets

 23 FL574090045 Defined benefit plans (7) 3624.4 3665.5 3635.2 3645.5 3655.5 3665.5 3675.6 3685.6 3695.7 23

 24 FL574090055 Defined contribution plans (8) 7418.5 8360.2 6417.5 7281.8 7674.2 8360.2 8605.2 9067.9 9045.0 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans is available on tables L.118.b.

(8) Additional detail on defined contribution plans is available on table L.118.c.
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L.118.b Private Pension Funds: Defined Benefit Plans

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL574090045 Total financial assets (1) 3624.4 3665.5 3635.2 3645.5 3655.5 3665.5 3675.6 3685.6 3695.7 1

 2 FL573020043 Checkable deposits and currency 8.9 8.5 8.8 8.7 8.6 8.5 8.5 8.4 8.3 2

 3 FL573030043 Time and savings deposits 10.2 1.5 8.7 6.4 4.1 1.5 0.1 0.7 0.6 3

 4 FL573034043 Money market fund shares 41.8 43.6 42.1 42.6 43.1 43.6 43.9 44.4 44.9 4

 5 FL572051043 Security repurchase agreements 15.8 21.1 16.7 18.1 19.5 21.1 21.9 23.4 24.7 5

 6 LM574022045 Debt securities 1104.6 1147.2 1099.2 1140.9 1134.4 1147.2 1086.0 1112.5 1111.6 6

 7 FL573069143 Open market paper 25.1 21.4 24.4 23.4 22.5 21.4 20.8 19.7 18.8 7

 8 LM573061143 Treasury securities 269.8 301.9 295.8 298.7 301.5 301.9 288.3 297.6 300.5 8

 9 LM573061743 Agency- and GSE-backed securities 133.0 121.2 138.1 122.2 121.3 121.2 119.1 121.1 121.9 9

 10 LM573063043 Corporate and foreign bonds 676.8 702.7 640.8 696.6 689.2 702.7 657.9 674.1 670.4 10

 11 FL573065043 Loans (mortgages) 14.1 13.4 14.0 13.8 13.6 13.4 13.3 13.1 12.9 11

 12 LM573064143 Corporate equities 1210.1 1388.7 941.3 1142.0 1232.7 1388.7 1466.5 1563.3 1535.1 12

 13 LM573064243 Mutual fund shares 360.9 366.2 296.8 332.6 342.3 366.2 371.8 382.7 371.4 13

 14 FL573090045 Miscellaneous assets 858.0 675.2 1207.6 940.4 857.1 675.2 663.5 537.2 586.2 14

 15 FL573095405 Unallocated insurance contracts (2) 60.9 63.2 55.1 59.0 60.2 63.2 63.6 65.8 64.9 15

 16 FL573074043 Contributions receivable 41.4 24.1 38.3 33.8 29.2 24.1 21.3 16.4 12.2 16

 17 FL573073005 Claims of pension fund on sponsor (3) 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 127.6 17

 18 FL573093043 Other 350.9 369.0 354.2 358.9 363.7 369.0 372.0 377.1 381.5 18

 19 FL574190043 Pension entitlements (liabilities) (4) 3660.9 3702.1 3671.7 3682.0 3692.0 3702.1 3712.1 3722.2 3732.2 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 7418.5 8360.2 6417.5 7281.8 7674.2 8360.2 8605.2 9067.9 9045.0 1

 2 FL573020033 Checkable deposits and currency 15.2 23.7 18.0 19.9 21.9 23.7 24.3 25.7 26.9 2

 3 FL573030033 Time and savings deposits 4.3 5.7 4.8 5.1 5.4 5.7 5.8 6.0 6.2 3

 4 FL573034055 Money market fund shares 137.9 178.8 152.9 162.3 171.6 178.8 181.2 187.2 192.6 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 461.2 576.7 501.9 537.5 557.7 576.7 556.8 582.2 592.2 6

 7 FL573069133 Open market paper 10.1 13.2 11.1 11.8 12.6 13.2 13.4 14.0 14.4 7

 8 LM573061133 Treasury securities 170.2 253.4 209.7 225.8 241.6 253.4 244.9 261.1 269.9 8

 9 LM573061733 Agency- and GSE-backed securities 91.1 131.1 107.8 115.8 123.6 131.1 131.2 139.3 144.9 9

 10 LM573063033 Corporate and foreign bonds 189.7 179.1 173.3 184.0 179.9 179.1 167.3 167.8 163.0 10

 11 FL573065033 Loans (mortgages) 9.1 4.4 7.5 6.5 5.4 4.4 4.1 3.3 2.6 11

 12 LM573064133 Corporate equities 1751.7 1954.2 1345.0 1611.4 1727.8 1954.2 2065.7 2212.5 2189.0 12

 13 LM573064255 Mutual fund shares 3946.7 4357.6 3271.1 3767.6 3973.3 4357.6 4498.5 4745.1 4711.6 13

 14 FL573090055 Miscellaneous assets 1092.4 1259.0 1116.3 1171.6 1211.3 1259.0 1268.9 1305.8 1323.9 14

 15 FL573095505 Unallocated insurance contracts (2) 531.2 552.4 507.4 529.1 535.3 552.4 551.4 563.4 561.3 15

 16 FL573074033 Contributions receivable 38.7 46.1 41.1 42.8 44.5 46.1 46.6 47.8 48.9 16

 17 FL573093055 Other 522.5 660.6 567.8 599.7 631.5 660.6 670.9 694.6 713.7 17

 18 FL574090055 Pension entitlements (liabilities) 7418.5 8360.2 6417.5 7281.8 7674.2 8360.2 8605.2 9067.9 9045.0 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL344090005 Total financial assets (1) 4222.7 4424.3 4171.1 4276.0 4336.9 4424.3 4479.2 4546.8 4569.3 1

 2 FL343020033 Checkable deposits and currency 0.7 0.9 0.7 0.8 0.8 0.9 0.9 0.9 1.0 2

 3 LM344022005 Debt securities 2177.4 2326.5 2181.6 2185.0 2232.0 2326.5 2317.5 2332.4 2141.7 3

 4 LM343061105 Treasury securities (2) 2151.3 2297.4 2157.8 2158.7 2204.5 2297.4 2289.7 2304.3 2113.9 4

 5 LM343061705 Agency- and GSE-backed securities 10.5 11.7 10.1 10.7 11.0 11.7 11.3 11.3 11.2 5

 6 LM343062033 Municipal securities 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM343063005 Corporate and foreign bonds 15.6 17.3 13.7 15.6 16.5 17.3 16.5 16.7 16.5 7

 8 FL313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 180.6 8

 9 LM343064105 Corporate equities 370.7 418.4 277.9 342.5 366.0 418.4 448.9 487.0 481.3 9

 10 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 1764.8 10

 11 FL344090005 Pension entitlements (liabilities) (5) 4222.7 4424.3 4171.1 4276.0 4336.9 4424.3 4479.2 4546.8 4569.3 11

 Memo:

 Funded status of defined benefit plans:

 12 FL344090045 Pension entitlements 3583.4 3689.7 3606.1 3633.8 3661.4 3689.7 3717.6 3744.6 3771.9 12

 13 FL342000075 Funded by assets (6) 1909.5 2011.1 1895.3 1886.1 1923.4 2011.1 2005.7 2018.2 2007.1 13

 14 FL343073045 Unfunded (line 10) 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 1764.8 14

 Total financial assets

 15 FL344090045 Defined benefit plans (7) 3583.4 3689.7 3606.1 3633.8 3661.4 3689.7 3717.6 3744.6 3771.9 15

 16 FL344090055 Defined contribution plans (8) 639.3 734.6 565.0 642.2 675.5 734.6 761.5 802.2 797.4 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL344090045 Total financial assets (2) 3583.4 3689.7 3606.1 3633.8 3661.4 3689.7 3717.6 3744.6 3771.9 1

 2 FL343020033 Checkable deposits and currency 0.7 0.9 0.7 0.8 0.8 0.9 0.9 0.9 1.0 2

 3 LM344022045 Debt securities 1893.4 1994.6 1881.9 1871.6 1907.7 1994.6 1988.7 2000.6 1989.4 3

 4 LM343061165 Treasury securities (3) 1887.7 1989.3 1877.1 1866.5 1902.7 1989.3 1983.1 1994.9 1983.7 4

 5 LM343061733 Agency- and GSE-backed securities 1.1 0.8 0.9 1.0 0.8 0.8 0.9 0.9 0.9 5

 6 LM343062033 Municipal securities 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM343063033 Corporate and foreign bonds 4.7 4.5 3.8 4.1 4.2 4.5 4.6 4.8 4.8 7

 8 LM343064135 Corporate equities 15.4 15.6 12.7 13.7 14.8 15.6 16.2 16.6 16.7 8

 9 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 1764.8 9

 10 FL344190045 Pension entitlements (liabilities) (5) 3583.4 3689.7 3606.1 3633.8 3661.4 3689.7 3717.6 3744.6 3771.9 10

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Comprised primarily of nonmarketable Treasury securities.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 FL344090055 Total financial assets 639.3 734.6 565.0 642.2 675.5 734.6 761.5 802.2 797.4 1

 2 LM344022025 Debt securities 283.9 331.8 299.7 313.3 324.3 331.8 328.8 331.7 152.3 2

 3 LM343061155 Treasury securities (2) 263.6 308.2 280.7 292.2 301.9 308.2 306.6 309.3 130.2 3

 4 LM343061723 Agency- and GSE-backed securities 9.4 10.9 9.2 9.7 10.2 10.9 10.4 10.4 10.3 4

 5 LM343063023 Corporate and foreign bonds 10.9 12.8 9.8 11.4 12.2 12.8 11.8 12.0 11.7 5

 6 FL313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 180.6 6

 7 LM343064125 Corporate equities 355.3 402.8 265.2 328.9 351.2 402.8 432.7 470.4 464.6 7

 8 FL344090055 Pension entitlements (liabilities) 639.3 734.6 565.0 642.2 675.5 734.6 761.5 802.2 797.4 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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Z.1, December 9, 2021 99

L.120 State and Local Government Employee Retirement Funds

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL224090005 Total financial assets (1) 9220.5 9527.7 9259.2 9370.0 9460.5 9527.7 9599.1 9716.3 9783.2 1

 2 FL223020043 Checkable deposits and currency 23.0 27.7 22.1 20.6 21.0 27.7 21.8 24.1 24.0 2

 3 FL223030043 Time and savings deposits 4.5 2.3 4.2 2.8 2.4 2.3 2.3 2.7 2.7 3

 4 FL223034005 Money market fund shares 20.7 24.8 29.9 27.9 27.5 24.8 26.5 25.0 25.0 4

 5 FL222051043 Security repurchase agreements 7.0 8.1 6.5 4.0 2.6 8.1 18.2 27.3 26.7 5

 6 LM224022045 Debt securities 970.9 1068.0 977.2 1003.3 1026.3 1068.0 1068.9 1172.1 1158.3 6

 7 FL223069143 Open market paper 10.8 8.9 13.9 9.1 9.2 8.9 15.2 19.6 19.3 7

 8 LM223061143 Treasury securities 344.2 354.2 336.8 306.3 327.0 354.2 346.4 430.2 424.0 8

 9 LM223061743 Agency- and GSE-backed securities 167.6 193.2 178.9 186.1 197.4 193.2 192.0 202.7 202.0 9

 10 LM223062043 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM223063045 Corporate and foreign bonds 448.4 511.7 447.6 501.8 492.6 511.7 515.3 519.6 512.9 11

 12 FL223065043 Loans (mortgages) 8.4 7.8 8.9 8.1 8.4 7.8 7.6 8.3 8.3 12

 13 LM223064145 Corporate equities 2576.9 2861.9 2174.5 2376.0 2585.5 2861.9 2976.3 3183.3 3164.4 13

 14 LM223064205 Mutual fund shares 374.7 445.5 305.7 355.0 372.8 445.5 413.7 443.0 440.1 14

 15 FL223090005 Miscellaneous assets 5234.3 5081.8 5730.2 5572.4 5414.1 5081.8 5063.9 4830.7 4933.8 15

 16 FL223095505 Unallocated insurance contracts (2) 254.0 266.4 246.9 253.8 259.6 266.4 267.9 273.1 273.7 16

 17 FL223073045 Claims of pension fund on sponsor (3) 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 3976.4 3745.6 3844.2 17

 18 FL223093005 Other 822.8 778.3 733.1 819.1 777.0 778.3 819.6 812.0 815.9 18

 19 FL224190005 Pension entitlements (liabilities) (4) 9343.4 9674.3 9369.0 9479.2 9569.5 9674.3 9755.8 9847.4 9919.2 19

 Memo:

 Funded status of defined benefit plans:

 20 FL224190043 Pension entitlements 8866.4 9158.1 8939.0 9011.7 9085.0 9158.1 9231.3 9304.4 9377.6 20

 21 FL222000075 Funded by assets (5) 4708.8 5121.1 4188.8 4512.2 4707.5 5121.1 5254.9 5558.8 5533.4 21

 22 FL223073045 Unfunded (line 17) 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 3976.4 3745.6 3844.2 22

 Total financial assets

 23 FL224090045 Defined benefit plans (6) 8743.6 9011.6 8829.1 8902.5 8976.0 9011.6 9074.6 9173.3 9241.6 23

 24 FL224090055 Defined contribution plans (7) 476.9 516.1 430.0 467.5 484.5 516.1 524.5 542.9 541.7 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL224090045 Total financial assets (1) 8743.6 9011.6 8829.1 8902.5 8976.0 9011.6 9074.6 9173.3 9241.6 1

 2 FL223020043 Checkable deposits and currency 23.0 27.7 22.1 20.6 21.0 27.7 21.8 24.1 24.0 2

 3 FL223030043 Time and savings deposits 4.5 2.3 4.2 2.8 2.4 2.3 2.3 2.7 2.7 3

 4 FL223034043 Money market fund shares 18.2 22.1 27.0 25.0 24.6 22.1 24.0 22.6 22.7 4

 5 FL222051043 Security repurchase agreements 7.0 8.1 6.5 4.0 2.6 8.1 18.2 27.3 26.7 5

 6 LM224022045 Debt securities 970.9 1068.0 977.2 1003.3 1026.3 1068.0 1068.9 1172.1 1158.3 6

 7 FL223069143 Open market paper 10.8 8.9 13.9 9.1 9.2 8.9 15.2 19.6 19.3 7

 8 LM223061143 Treasury securities 344.2 354.2 336.8 306.3 327.0 354.2 346.4 430.2 424.0 8

 9 LM223061743 Agency- and GSE-backed securities 167.6 193.2 178.9 186.1 197.4 193.2 192.0 202.7 202.0 9

 10 LM223062043 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM223063045 Corporate and foreign bonds 448.4 511.7 447.6 501.8 492.6 511.7 515.3 519.6 512.9 11

 12 FL223065043 Loans (mortgages) 8.4 7.8 8.9 8.1 8.4 7.8 7.6 8.3 8.3 12

 13 LM223064145 Corporate equities 2576.9 2861.9 2174.5 2376.0 2585.5 2861.9 2976.3 3183.3 3164.4 13

 14 LM223064243 Mutual fund shares 160.1 204.4 131.3 150.1 156.6 204.4 165.7 181.7 180.7 14

 15 FL223090045 Miscellaneous assets 4974.6 4809.3 5477.5 5312.7 5148.6 4809.3 4789.9 4551.4 4653.9 15

 16 FL223073045 Claims of pension fund on sponsor (2) 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 3976.4 3745.6 3844.2 16

 17 LM223093043 Other 817.0 772.3 727.2 813.2 771.1 772.3 813.5 805.8 809.7 17

 18 FL224190043 Pension entitlements (liabilities) (3) 8866.4 9158.1 8939.0 9011.7 9085.0 9158.1 9231.3 9304.4 9377.6 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 476.9 516.1 430.0 467.5 484.5 516.1 524.5 542.9 541.7 1

 2 FL223034055 Money market fund shares 2.6 2.7 2.9 2.9 2.9 2.7 2.6 2.4 2.3 2

 3 LM223064255 Mutual fund shares 214.6 241.1 174.4 204.9 216.1 241.1 248.0 261.3 259.4 3

 4 FL223090055 Miscellaneous assets 259.8 272.4 252.7 259.7 265.5 272.4 274.0 279.2 279.9 4

 5 FL223095505 Unallocated insurance contracts (misc. assets) (2) 254.0 266.4 246.9 253.8 259.6 266.4 267.9 273.1 273.7 5

 6 FL223093053 Other 5.8 6.0 5.9 5.9 6.0 6.0 6.1 6.1 6.2 6

 7 FL224090055 Pension entitlements (liabilities) 476.9 516.1 430.0 467.5 484.5 516.1 524.5 542.9 541.7 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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Z.1, December 9, 2021 101

L.121 Money Market Funds (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL634090005 Total financial assets 3634.3 4335.6 4338.0 4635.9 4410.1 4335.6 4500.4 4539.3 4544.6 1

 2 FL633091003 Foreign deposits 7.4 0.7 3.8 2.1 0.9 0.7 2.2 0.3 0.9 2

 3 FL633020000 Checkable deposits and currency 1.2 -7.8 -25.8 -45.1 -74.0 -7.8 -53.5 -71.1 29.3 3

 4 FL633030000 Time and savings deposits 258.8 140.6 239.4 215.4 180.2 140.6 184.7 148.8 151.9 4

 5 FL632051000 Security repurchase agreements 1175.1 1006.3 1468.4 906.1 997.2 1006.3 1055.8 1585.6 2056.2 5

 6 FL634022005 Debt securities 2181.3 3185.3 2568.7 3544.2 3290.6 3185.3 3234.3 2864.5 2295.5 6

 7 FL633069175 Open market paper 237.2 173.4 225.4 219.0 177.9 173.4 182.8 146.8 153.7 7

 8 FL633061105 Treasury securities 1036.5 2256.4 1267.8 2349.8 2275.2 2256.4 2362.5 2107.1 1591.3 8

 9 FL633061700 Agency- and GSE-backed securities 755.1 630.3 931.1 826.2 699.8 630.3 572.7 499.4 448.2 9

 10 FL633062000 Municipal securities 134.0 112.6 130.7 136.5 121.4 112.6 103.8 99.2 93.2 10

 11 FL633063005 Corporate and foreign bonds 18.5 12.6 13.8 12.7 16.3 12.6 12.5 12.0 9.1 11

 12 FL633093005 Miscellaneous assets 10.5 10.5 83.5 13.2 15.2 10.5 76.9 11.2 10.8 12

 13 FL634090005 Total shares outstanding (liabilities) 3634.3 4335.6 4338.0 4635.9 4410.1 4335.6 4500.4 4539.3 4544.6 13

 Memo:

 14 FL634090503 Variable annuity money market funds included above 35.3 40.8 46.6 44.6 43.5 40.8 39.2 36.6 35.8 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 17659.5 19562.6 14543.1 16776.1 17749.3 19562.6 20271.3 21459.7 21374.9 1

 2 FL652051003 Security repurchase agreements 102.8 108.2 107.3 104.1 96.7 108.2 114.6 118.7 127.7 2

 3 LM654022005 Debt securities 5216.2 5681.7 4861.5 5158.6 5460.7 5681.7 5736.3 5932.8 5918.1 3

 4 FL653069100 Open market paper 102.8 108.2 107.3 104.1 96.7 108.2 114.6 118.7 127.7 4

 5 LM653061105 Treasury securities 1310.9 1293.6 1114.1 1206.8 1253.7 1293.6 1299.7 1405.5 1394.5 5

 6 LM653061703 Agency- and GSE-backed securities 654.0 696.6 682.8 553.4 663.0 696.6 699.8 661.4 660.1 6

 7 LM653062003 Municipal securities 831.0 891.3 786.2 814.7 857.5 891.3 913.3 956.1 971.6 7

 8 LM653063005 Corporate and foreign bonds 2317.5 2692.1 2171.0 2479.6 2589.9 2692.1 2709.0 2791.1 2764.2 8

 9 FL653069803 Loans (other loans and advances) 114.2 85.2 84.2 84.1 83.4 85.2 100.5 116.9 127.3 9

 10 LM653064100 Corporate equities 11934.5 13391.1 9203.8 11129.4 11843.4 13391.1 13977.9 14919.4 14795.6 10

 11 FL653093005 Miscellaneous assets 291.8 296.4 286.4 299.9 265.1 296.4 342.0 371.9 406.3 11

 12 LM654090000 Total shares outstanding (liabilities) 17659.5 19562.6 14543.1 16776.1 17749.3 19562.6 20271.3 21459.7 21374.9 12

 Memo:

 13 LM654090500 Variable annuity mutual funds included above 1815.9 1942.9 1472.3 1690.4 1767.9 1942.9 1979.2 2089.2 2041.9 13

 Total financial assets by investment objective:

 14 LM654091600 Domestic equity funds 8438.8 9523.9 6563.1 7944.7 8466.0 9523.9 10033.7 10713.2 10596.0 14

 15 LM654092603 World equity funds 2936.8 3204.5 2257.3 2663.5 2811.2 3204.5 3245.8 3456.9 3383.5 15

 16 LM654091403 Hybrid funds 1579.1 1620.0 1305.0 1449.9 1503.7 1620.0 1677.9 1797.2 1795.4 16

 17 LM654091303 Taxable bond funds 3890.2 4337.5 3644.0 3911.8 4126.3 4337.5 4399.0 4570.9 4637.6 17

 18 LM654091203 Municipal bond funds 814.1 876.6 773.3 805.7 841.6 876.6 902.6 941.6 962.5 18

(1) Open-end investment companies including variable annuity mutual funds.
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102 Z.1, December 9, 2021

L.123 Closed-End Funds

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM554090005 Total financial assets 278.7 281.6 231.2 254.2 261.9 281.6 293.2 304.3 306.7 1

 2 LM554022005 Debt securities 171.5 175.7 151.5 162.0 166.2 175.7 178.2 183.0 185.2 2

 3 LM553061103 Treasury securities 3.2 3.0 2.7 2.8 2.9 3.0 3.0 3.1 3.1 3

 4 LM553062003 Municipal securities 93.2 94.9 89.4 91.5 92.9 94.9 95.0 96.7 98.3 4

 5 LM553063003 Corporate and foreign bonds 75.1 77.8 59.5 67.6 70.3 77.8 80.3 83.2 83.8 5

 6 LM553064103 Corporate equities 107.2 105.9 79.7 92.2 95.7 105.9 115.0 121.2 121.5 6

 7 LM554090005 Total shares outstanding (liabilities) 278.7 281.6 231.2 254.2 261.9 281.6 293.2 304.3 306.7 7

 Memo:

 Total financial assets by investment objective:

 8 LM554091603 Domestic equity funds 79.3 76.6 58.9 67.7 69.7 76.6 85.1 89.5 89.6 8

 9 LM554092603 World equity funds 27.9 29.3 20.7 24.5 26.0 29.3 29.8 31.7 31.9 9

 10 LM554091303 Domestic taxable bond funds 57.2 59.4 45.1 50.9 53.1 59.4 59.6 62.1 62.8 10

 11 LM554091203 Municipal bond funds 93.2 94.9 89.4 91.5 92.9 94.9 95.0 96.7 98.3 11

 12 LM554092303 World bond funds 21.1 21.4 17.1 19.5 20.1 21.4 23.6 24.2 24.1 12

L.124 Exchange-Traded Funds

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

 1 LM564090005 Total financial assets 4396.2 5449.4 3639.7 4355.7 4725.2 5449.4 5909.8 6491.3 6580.6 1

 2 LM564022005 Debt securities 825.0 1065.5 830.5 944.1 1007.1 1065.5 1079.9 1156.5 1201.0 2

 3 LM563061103 Treasury securities 231.8 276.4 262.9 271.3 276.3 276.4 279.8 298.5 312.0 3

 4 LM563062003 Municipal securities 49.3 64.5 49.3 54.3 58.3 64.5 69.2 76.0 80.4 4

 5 LM563063003 Corporate and foreign bonds 544.0 724.6 518.3 618.5 672.5 724.6 730.9 782.0 808.6 5

 6 LM563064100 Corporate equities 3486.2 4233.6 2715.2 3283.8 3566.3 4233.6 4697.0 5189.7 5242.1 6

 7 LM563093003 Miscellaneous assets (1) 84.9 150.3 94.0 127.8 151.9 150.3 132.8 145.0 137.5 7

 8 LM564090005 Total shares outstanding (liabilities) 4396.2 5449.4 3639.7 4355.7 4725.2 5449.4 5909.8 6491.3 6580.6 8

 Memo:

 Total financial assets by investment objective:

 9 LM564091600 Domestic equity funds 2583.5 3182.6 2035.7 2502.5 2709.3 3182.6 3543.8 3930.2 3992.8 9

 10 LM564092603 World equity funds 883.9 1028.7 664.2 764.1 837.9 1028.7 1130.3 1234.1 1222.6 10

 11 LM563093003 Commodity funds (1) 84.9 150.3 94.0 127.8 151.9 150.3 132.8 145.0 137.5 11

 12 LM564091403 Hybrid funds 30.1 34.5 25.2 27.9 30.4 34.5 34.4 37.9 39.9 12

 13 LM564091303 Taxable bond funds 764.8 989.1 771.5 879.3 937.6 989.1 999.5 1068.4 1107.8 13

 14 LM564091203 Municipal bond funds 49.0 64.2 49.1 54.1 58.1 64.2 68.9 75.7 80.1 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL404090005 Total financial assets 7130.0 7729.5 7454.5 7424.7 7523.1 7729.5 7879.0 8032.5 8154.6 1

 2 FL403020005 Checkable deposits and currency 34.6 92.5 142.0 71.1 57.6 92.5 153.9 68.6 86.4 2

 3 FL403030005 Time and savings deposits 15.8 8.8 16.0 13.3 8.5 8.8 7.2 6.3 6.3 3

 4 FL402050005 Federal funds and security repos 195.2 212.5 153.9 225.0 206.9 212.5 146.8 256.8 215.2 4

 5 LM404022005 Debt securities 467.7 520.1 484.2 547.9 557.0 520.1 471.9 450.5 440.1 5

 6 FL403069105 Open market paper 7.1 7.3 8.2 7.5 6.2 7.3 7.0 5.4 4.7 6

 7 LM403061105 Treasury securities 175.8 259.2 194.5 257.0 279.1 259.2 224.9 210.9 205.1 7

 8 LM403061705 Agency- and GSE-backed securities 265.1 237.3 263.8 265.4 254.5 237.3 224.4 218.9 215.3 8

 9 LM403062005 Municipal securities 3.3 2.8 3.2 3.0 3.0 2.8 2.7 2.6 2.5 9

 10 LM403063005 Corporate and foreign bonds 16.5 13.5 14.5 14.9 14.3 13.5 13.0 12.7 12.5 10

 11 FL404023005 Loans 6289.3 6706.0 6508.2 6397.4 6506.5 6706.0 6899.9 7075.7 7233.1 11

 12 FL403069305 Other loans and advances 778.6 563.5 941.1 691.6 615.3 563.5 547.4 515.4 496.4 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 139.7 153.2 143.9 144.0 144.8 153.2 156.5 152.8 152.1 14

 15 FL403069330 FHLB 638.9 410.3 797.2 547.7 470.4 410.3 390.9 362.6 344.3 15

 16 FL403065005 Mortgages 5510.7 6142.5 5567.1 5705.8 5891.3 6142.5 6352.5 6560.3 6736.7 16

 17 FL403065105 One-to-four-family residential 5016.1 5575.3 5063.7 5177.6 5354.1 5575.3 5777.4 5986.5 6152.7 17

 18 FL403065195 Consolidated trusts (2) 4771.9 5303.8 4809.9 4907.9 5076.6 5303.8 5499.1 5772.0 5950.9 18

 19 FL403065185 Other 244.1 271.5 253.8 269.7 277.5 271.5 278.2 214.5 201.8 19

 20 FL403065405 Multifamily residential 364.0 419.4 368.6 388.9 393.7 419.4 426.8 424.4 433.8 20

 21 FL403065495 Consolidated trusts (2) 332.7 384.6 340.7 354.4 364.8 384.6 401.0 405.6 413.5 21

 22 FL403065485 Other 31.4 34.9 27.9 34.5 28.9 34.9 25.7 18.8 20.3 22

 23 FL403065605 Farm 130.6 147.8 134.8 139.3 143.5 147.8 148.4 149.3 150.1 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 127.3 189.7 150.2 170.0 186.5 189.7 199.3 174.6 173.5 25

 26 FL404190005 Total liabilities 7116.5 7758.3 7446.8 7423.8 7534.0 7758.3 7896.0 8042.9 8158.5 26

 27 FL402150005 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 27

 28 FL403161705 Debt securities (GSE issues) (3) 7002.2 7638.1 7318.1 7305.1 7417.7 7638.1 7775.1 7928.1 8041.7 28

 29 FL403161795 Consolidated trusts (2) 5104.6 5688.3 5150.6 5262.3 5441.4 5688.3 5900.1 6177.6 6364.5 29

 30 FL403161785 Other 1897.6 1949.8 2167.5 2042.8 1976.3 1949.8 1875.0 1750.4 1677.3 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 114.3 120.2 128.7 118.6 116.3 120.2 120.7 114.9 116.8 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 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 2474.7 1

 2 FL413065105 One-to-four-family residential mortgages 2024.8 2009.0 2045.7 2030.9 2023.5 2009.0 1996.4 2012.1 2022.4 2

 3 FL413065405 Multifamily residential mortgages 380.2 418.4 383.0 385.7 403.9 418.4 434.1 446.7 451.4 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 1.1 0.9 1.1 1.0 1.0 0.9 0.8 0.9 0.9 5

 6 FL413065005 Total pool securities (liabilities) (2) 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 2474.7 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL674090005 Total financial assets 1180.2 1225.6 1233.1 1221.3 1220.4 1225.6 1230.3 1255.3 1299.3 1

 2 FL674022005 Debt securities 33.0 30.3 32.0 30.6 29.5 30.3 28.6 27.4 28.7 2

 3 FL673061103 Treasury securities 33.0 30.3 32.0 30.6 29.5 30.3 28.6 27.4 28.7 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 1020.3 1047.0 1066.0 1052.7 1049.3 1047.0 1043.6 1052.8 1087.6 5

 6 FL673069005 Other loans and advances (2) 161.7 207.7 186.5 188.7 195.4 207.7 210.0 219.0 244.2 6

 7 FL673065005 Mortgages (3) 855.5 837.4 876.7 861.5 851.6 837.4 831.8 832.1 841.9 7

 8 FL673065105 One-to-four-family residential 452.0 414.9 460.7 448.5 436.3 414.9 400.0 394.1 396.5 8

 9 FL673065405 Multifamily residential 46.3 51.3 53.0 53.2 52.2 51.3 52.7 53.2 55.4 9

 10 FL673065505 Commercial 357.2 371.2 363.0 359.8 363.1 371.2 379.1 384.8 390.1 10

 11 FL673066000 Consumer credit 3.1 1.9 2.8 2.5 2.2 1.9 1.9 1.7 1.5 11

 12 FL673070003 Trade credit 34.6 35.1 36.9 35.5 32.6 35.1 34.2 36.3 35.2 12

 13 FL673090543 Miscellaneous assets (funding agreements) (4) 92.3 113.2 98.1 102.5 109.0 113.2 123.9 138.8 147.8 13

 14 FL674122005 Total liabilities 1180.2 1225.6 1233.1 1221.3 1220.4 1225.6 1230.3 1255.3 1299.3 14

 15 FL674122005 Debt securities 1180.2 1225.6 1233.1 1221.3 1220.4 1225.6 1230.3 1255.3 1299.3 15

 16 FL673169105 Commercial paper 75.9 90.6 80.7 86.7 87.8 90.6 86.2 84.9 89.0 16

 17 FL673163005 Corporate bonds (net) (5) 1104.2 1135.0 1152.4 1134.6 1132.7 1135.0 1144.1 1170.4 1210.3 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) 152.0 141.2 131.9 137.9 141.4 141.2 138.0 148.6 150.7 19

 Securitized liabilities not included above

 20 FL763169103 Commercial paper (8) 68.4 99.2 80.0 84.5 89.5 99.2 106.3 106.0 102.9 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL614090005 Total financial assets 1536.8 1606.6 1495.5 1539.0 1543.2 1606.6 1635.0 1684.4 1682.5 1

 2 FL613020003 Checkable deposits and currency 12.2 16.4 16.5 20.7 17.0 16.4 15.7 16.1 16.9 2

 3 FL613030003 Time and savings deposits 36.7 49.3 49.5 62.2 51.1 49.3 47.2 48.3 50.7 3

 4 LM613063003 Debt securities (corporate and foreign bonds) 60.0 73.6 58.8 68.2 69.9 73.6 69.7 77.6 83.8 4

 5 FL614023005 Loans 1041.6 1031.7 1043.8 1021.2 1029.0 1031.7 1042.7 1061.1 1051.5 5

 6 FL613069505 Other loans and advances 386.7 370.3 400.0 373.1 372.4 370.3 373.6 381.8 367.8 6

 7 FL613065000 Mortgages 117.2 110.0 115.3 111.8 107.9 110.0 108.6 107.0 105.7 7

 8 FL613066005 Consumer credit 537.7 551.4 528.5 536.4 548.6 551.4 560.5 572.3 578.0 8

 9 LM613092003 U.S. direct investment abroad 334.7 372.6 268.7 305.8 320.7 372.6 414.8 441.6 452.0 9

 10 FL613090005 Miscellaneous assets 51.5 63.1 58.2 60.8 55.6 63.1 44.8 39.8 27.6 10

 11 FL614190005 Total liabilities 1286.4 1307.3 1325.5 1326.2 1301.7 1307.3 1290.9 1318.1 1296.6 11

 12 FL614122005 Debt securities 835.4 815.2 859.4 849.0 816.4 815.2 795.0 799.0 762.6 12

 13 FL613169100 Open market paper 63.5 41.8 61.7 50.8 42.5 41.8 41.5 40.9 38.9 13

 14 FL613163005 Corporate bonds 771.8 773.4 797.6 798.2 774.0 773.4 753.5 758.1 723.7 14

 15 FL614123005 Loans 153.6 178.4 160.6 167.1 175.2 178.4 175.4 216.2 209.1 15

 16 FL613168005 Depository institution loans n.e.c. 152.7 177.9 159.6 166.5 174.5 177.9 175.3 216.1 209.0 16

 17 FL613169005 Other loans and advances 1.0 0.5 0.9 0.6 0.7 0.5 0.1 0.1 0.1 17

 18 FL613178005 Taxes payable 14.9 14.4 15.0 15.2 14.4 14.4 14.9 13.7 14.8 18

 19 LM613192305 Foreign direct investment: intercompany debt 9.6 9.4 9.4 9.3 9.5 9.4 9.2 9.0 9.1 19

 20 FL613190005 Miscellaneous liabilities 272.9 289.9 281.2 285.7 286.2 289.9 296.4 280.2 301.0 20

 21 FL613194003 Investment by parent 122.7 117.7 120.6 116.8 113.1 117.7 117.0 106.5 103.7 21

 22 FL613193005 Other 150.2 172.2 160.6 168.8 173.2 172.2 179.4 173.7 197.3 22

 Memo:

 23 LM613192103 Foreign direct investment: equity 142.7 174.9 115.8 139.7 154.6 174.9 189.6 205.7 206.4 23

 24 FL613066303 Consumer leases not included above (2) 191.5 182.1 189.0 183.7 182.1 182.1 182.8 184.0 180.7 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL644090005 Total financial assets 898.1 757.2 780.0 758.4 751.5 757.2 765.9 779.2 780.4 1

 2 FL643020005 Checkable deposits and currency 44.9 62.1 85.0 79.5 68.0 62.1 61.2 62.8 64.0 2

 3 LM644022005 Debt securities 386.7 236.9 246.3 241.8 234.8 236.9 223.7 216.4 197.4 3

 4 LM643061773 Agency- and GSE-backed securities 334.5 208.6 210.5 209.9 206.6 208.6 197.5 187.6 166.6 4

 5 LM643063005 Corporate and foreign bonds 52.2 28.3 35.8 31.8 28.2 28.3 26.2 28.8 30.8 5

 6 FL643065005 Loans (mortgages) 273.9 259.2 250.8 247.9 260.1 259.2 265.7 281.7 302.3 6

 7 FL643065105 One-to-four-family residential 76.0 51.7 53.9 48.8 52.8 51.7 54.5 60.4 72.3 7

 8 FL643065405 Multifamily residential 15.0 11.0 9.2 9.0 10.0 11.0 12.0 13.7 15.0 8

 9 FL643065505 Commercial 182.8 196.5 187.8 190.2 197.3 196.5 199.2 207.6 215.0 9

 10 FL643090005 Miscellaneous assets 192.6 199.1 197.8 189.2 188.6 199.1 215.2 218.2 216.7 10

 11 FL644190005 Total liabilities 1329.5 1219.2 1235.3 1210.5 1204.1 1219.2 1221.5 1236.7 1214.7 11

 12 FL642151073 Security repurchase agreements 379.3 221.7 259.8 229.8 220.3 221.7 218.4 210.8 205.3 12

 13 FL644122005 Debt securities 539.3 580.8 529.9 565.4 573.8 580.8 587.3 612.2 613.8 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 539.3 580.8 529.9 565.4 573.8 580.8 587.3 612.2 613.8 15

 16 FL644123005 Loans 263.2 256.8 299.2 266.5 254.7 256.8 251.5 248.5 234.7 16

 17 FL643168005 Depository institution loans n.e.c. 30.4 29.9 69.5 41.0 28.6 29.9 30.4 29.0 24.2 17

 18 FL643169373 Other loans and advances 8.5 0.3 4.6 1.7 0.3 0.3 0.3 0.3 0.3 18

 19 FL123165005 Mortgages 224.3 226.6 225.1 223.8 225.8 226.6 220.8 219.2 210.2 19

 20 FL643193005 Miscellaneous liabilities 147.6 159.9 146.4 148.8 155.4 159.9 164.4 165.3 160.9 20

 Memo:

 21 FL643065045 Securitized assets included above 152.0 141.2 131.9 137.9 141.4 141.2 138.0 148.6 150.7 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 44.6 27.8 26.8 27.0 27.8 27.8 25.9 27.9 29.2 23

 24 FL643065443 Multifamily residential mortgages 9.8 5.5 4.4 4.6 5.5 5.5 5.6 6.9 7.4 24

 25 FL643065543 Commercial mortgages 97.6 107.9 100.7 106.2 108.1 107.9 106.5 113.8 114.1 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL124090005 Total financial assets 216.7 249.0 256.5 255.4 247.7 249.0 255.9 271.0 277.0 1

 2 FL123020003 Checkable deposits and currency 32.9 44.6 64.8 62.3 50.1 44.6 44.6 46.1 48.1 2

 3 LM123063003 Debt securities (corporate and foreign bonds) 11.0 12.9 10.6 12.1 12.3 12.9 14.4 16.8 19.5 3

 4 FL123065005 Loans (mortgages) 31.0 37.1 31.8 32.0 36.7 37.1 39.5 38.9 38.6 4

 5 FL123065103 One-to-four-family residential 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 5

 6 FL123065403 Multifamily residential 0.8 1.4 0.7 0.7 0.7 1.4 2.0 1.9 1.8 6

 7 FL123065503 Commercial 30.0 35.4 30.9 31.1 35.8 35.4 37.3 36.7 36.6 7

 8 FL123093005 Miscellaneous assets 141.8 154.4 149.3 149.0 148.6 154.4 157.4 169.2 170.8 8

 9 FL124190005 Total liabilities 737.9 790.0 784.2 783.3 778.2 790.0 791.6 809.4 794.0 9

 10 FL123163003 Debt securities (corporate bonds) 358.8 402.3 364.5 391.9 394.9 402.3 410.0 422.0 420.2 10

 11 FL124123005 Loans 252.8 254.0 291.3 262.1 252.1 254.0 249.0 246.1 232.2 11

 12 FL123168003 Depository institution loans n.e.c. 28.5 27.4 66.2 38.3 26.3 27.4 28.1 26.9 22.0 12

 13 FL123165005 Mortgages 224.3 226.6 225.1 223.8 225.8 226.6 220.8 219.2 210.2 13

 14 FL123165403 Multifamily residential 22.8 23.7 23.4 23.7 22.9 23.7 23.9 23.5 23.7 14

 15 FL123165503 Commercial 201.6 202.9 201.7 200.0 202.9 202.9 197.0 195.7 186.5 15

 16 FL123193005 Miscellaneous liabilities 126.3 133.7 128.4 129.3 131.2 133.7 132.6 141.3 141.6 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 681.4 508.2 523.4 503.0 503.8 508.2 510.0 508.2 503.3 1

 2 FL643020073 Checkable deposits and currency 12.0 17.5 20.2 17.2 17.9 17.5 16.6 16.8 15.9 2

 3 LM644022075 Debt securities 375.7 223.9 235.7 229.7 222.6 223.9 209.3 199.6 177.9 3

 4 LM643061773 Agency- and GSE-backed securities 334.5 208.6 210.5 209.9 206.6 208.6 197.5 187.6 166.6 4

 5 LM643063073 Corporate and foreign bonds 41.2 15.4 25.2 19.8 15.9 15.4 11.8 12.0 11.3 5

 6 FL643065075 Loans (mortgages) 242.8 222.1 219.0 215.9 223.3 222.1 226.3 242.8 263.6 6

 7 FL643065173 One-to-four-family residential 75.9 51.5 53.7 48.6 52.6 51.5 54.3 60.2 72.1 7

 8 FL643065473 Multifamily residential 14.2 9.6 8.5 8.3 9.2 9.6 10.1 11.8 13.1 8

 9 FL643065573 Commercial 152.8 161.1 156.8 159.1 161.6 161.1 161.9 170.9 178.4 9

 10 FL643090075 Miscellaneous assets 50.9 44.7 48.5 40.2 40.0 44.7 57.9 49.0 45.9 10

 11 FL644190075 Total liabilities 591.6 429.2 451.1 427.1 425.9 429.2 430.0 427.4 420.6 11

 12 FL642151073 Security repurchase agreements 379.3 221.7 259.8 229.8 220.3 221.7 218.4 210.8 205.3 12

 13 FL644122075 Debt securities 180.5 178.4 165.3 173.5 178.9 178.4 177.3 190.2 193.6 13

 14 FL643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL643163075 Corporate bonds 180.5 178.4 165.3 173.5 178.9 178.4 177.3 190.2 193.6 15

 16 FL644123075 Loans 10.4 2.8 7.9 4.4 2.6 2.8 2.6 2.4 2.5 16

 17 FL643168073 Depository institution loans n.e.c. 1.9 2.5 3.3 2.7 2.3 2.5 2.3 2.1 2.2 17

 18 FL643169373 Other loans and advances 8.5 0.3 4.6 1.7 0.3 0.3 0.3 0.3 0.3 18

 19 FL643193075 Miscellaneous liabilities 21.4 26.2 18.1 19.5 24.1 26.2 31.8 24.0 19.3 19

 Memo:

 20 FL643065045 Securitized assets included above 152.0 141.2 131.9 137.9 141.4 141.2 138.0 148.6 150.7 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 44.6 27.8 26.8 27.0 27.8 27.8 25.9 27.9 29.2 22

 23 FL643065443 Multifamily residential mortgages 9.8 5.5 4.4 4.6 5.5 5.5 5.6 6.9 7.4 23

 24 FL643065543 Commercial mortgages 97.6 107.9 100.7 106.2 108.1 107.9 106.5 113.8 114.1 24
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108 Z.1, December 9, 2021

L.130 Security Brokers and Dealers

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL664090005 Total financial assets 3944.8 4198.8 4216.9 3999.2 4024.6 4198.8 4245.1 4289.2 4392.2 1

 2 FL663020003 Checkable deposits and currency 125.2 138.4 162.0 139.0 133.9 138.4 136.9 132.6 137.1 2

 3 FL662051003 Security repurchase agreements 1400.1 1322.1 1483.0 1282.2 1279.0 1322.1 1238.0 1133.4 1211.2 3

 4 LM664022005 Debt securities 450.6 390.7 507.7 500.6 433.7 390.7 189.0 218.3 206.7 4

 5 FL663069103 Open market paper 8.5 8.2 20.7 13.0 11.0 8.2 9.2 11.7 14.0 5

 6 LM663061105 Treasury securities 214.1 215.2 232.7 268.4 213.4 215.2 95.5 113.0 93.5 6

 7 LM663061705 Agency- and GSE-backed securities 139.5 77.8 170.1 134.2 107.6 77.8 4.9 12.4 17.6 7

 8 LM663062003 Municipal securities 16.4 6.8 13.7 8.7 10.4 6.8 8.8 10.7 12.1 8

 9 LM663063005 Corporate and foreign bonds 72.0 82.7 70.5 76.4 91.3 82.7 70.6 70.5 69.5 9

 10 FL663069005 Loans (other loans and advances) 373.1 538.3 394.6 373.5 440.3 538.3 628.7 651.8 628.8 10

 11 LM663064103 Corporate equities 167.0 214.3 144.7 180.4 205.4 214.3 265.9 259.1 232.0 11

 12 LM663092003 U.S. direct investment abroad 299.0 349.5 235.0 274.8 286.2 349.5 363.7 390.3 384.8 12

 13 FL663090005 Miscellaneous assets 1129.8 1245.6 1289.9 1248.7 1245.9 1245.6 1423.0 1503.6 1591.6 13

 14 FL663070663 Receivables due from other brokers and dealers 1090.4 1145.4 1026.0 1112.0 1106.1 1145.4 1277.6 1365.8 1453.7 14

 15 FL663070653 Receivables due from clearing organizations 70.6 131.2 185.1 127.8 127.4 131.2 168.7 182.2 202.5 15

 16 FL663093005 Other -31.2 -31.0 78.7 8.9 12.4 -31.0 -23.3 -44.4 -64.6 16

 17 FL664190005 Total liabilities 3704.5 3930.2 3964.0 3740.7 3767.5 3930.2 3964.7 4001.2 4098.4 17

 18 FL662151003 Security repurchase agreements 1750.0 1774.2 1815.9 1680.4 1713.2 1774.2 1573.6 1550.5 1554.7 18

 19 FL663163003 Debt securities (corporate bonds) 173.9 183.9 256.9 179.7 165.4 183.9 196.3 204.5 214.6 19

 20 FL664123005 Loans 906.0 1037.0 1114.0 1033.7 995.6 1037.0 1064.1 1097.2 1160.6 20

 21 FL663168005 Depository institution loans n.e.c. 122.0 132.2 184.6 124.5 118.7 132.2 139.4 156.2 169.9 21

 22 FL153067005 Other loans and advances 783.9 904.8 929.4 909.2 876.9 904.8 924.7 941.1 990.7 22

 23 FL663170003 Trade payables 15.8 18.5 20.1 17.8 16.7 18.5 19.7 15.9 17.6 23

 24 FL663178005 Taxes payable 12.2 14.4 13.6 15.7 14.5 14.4 15.2 15.0 16.1 24

 25 LM663192305 Foreign direct investment: intercompany debt 12.0 13.2 10.0 11.6 12.0 13.2 12.8 13.0 20.6 25

 26 FL663190005 Miscellaneous liabilities 834.6 888.9 733.5 801.8 849.9 888.9 1082.9 1105.0 1114.2 26

 27 FL663170663 Payables due to other brokers and dealers 459.6 516.0 454.3 482.7 508.1 516.0 664.0 680.0 724.8 27

 28 FL663170653 Payables due to clearing organizations 13.9 6.7 12.5 9.8 9.1 6.7 19.7 14.7 14.9 28

 29 FL663194005 Investment by parent companies 983.3 1064.7 1049.4 1002.0 1007.8 1064.7 1066.6 1124.2 1099.7 29

 30 FL663193005 Other -622.3 -698.5 -782.6 -692.7 -675.0 -698.5 -667.4 -713.9 -725.2 30

 Memo:

 31 LM662090003 Equity in noncorporate business 83.5 90.3 84.8 88.5 87.1 90.3 93.8 98.0 99.6 31

 32 LM663192103 Foreign direct investment: equity 178.9 246.3 122.1 174.4 196.5 246.3 262.7 297.7 299.9 32
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L.131 Holding Companies (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL734090005 Total financial assets 3999.0 4262.7 4060.8 4170.0 4164.4 4262.7 4250.0 4371.8 4379.9 1

 2 FL733030003 Time and savings deposits 386.4 514.9 434.1 532.7 521.0 514.9 440.0 438.9 412.7 2

 3 FL732051003 Security repurchase agreements 2.0 41.4 2.0 21.8 36.5 41.4 29.4 15.8 30.1 3

 4 LM734022605 Debt securities 126.8 122.4 121.5 125.1 116.1 122.4 145.5 144.1 139.1 4

 5 LM733061103 Treasury securities 55.8 61.6 53.4 54.4 53.9 61.6 84.2 86.5 83.8 5

 6 LM733061703 Agency- and GSE-backed securities 43.1 33.8 41.2 38.7 36.5 33.8 30.7 29.1 27.2 6

 7 LM733063003 Corporate and foreign bonds 27.9 27.0 26.9 32.0 25.7 27.0 30.5 28.5 28.1 7

 8 FL733069005 Loans (other loans and advances) 117.7 106.6 128.7 119.0 104.6 106.6 121.2 129.6 125.1 8

 9 FL733040005 Life insurance reserves 65.0 69.0 66.0 67.0 68.0 69.0 70.0 71.0 72.0 9

 10 FL733090005 Miscellaneous assets 3301.2 3408.4 3308.5 3304.4 3318.2 3408.4 3444.0 3572.3 3600.9 10

 11 FL763194735 Net trans. with depository affiliates 2233.5 2306.1 2197.0 2225.0 2252.7 2306.1 2320.4 2386.3 2430.9 11

 12 FL513194733 Net trans. with property-casualty ins. co. affiliates 6.8 2.9 6.7 1.9 3.0 2.9 3.7 4.4 4.4 12

 13 FL543194733 Net trans. with life insurance company affiliates 5.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL613194733 Net trans. with finance company affiliates 10.2 8.2 9.3 9.1 9.3 8.2 7.6 6.9 20.2 14

 15 FL663194735 Net trans. with broker and dealer affiliates 983.3 1064.7 1049.4 1002.0 1007.8 1064.7 1066.6 1124.2 1099.7 15

 16 FL263194735 Net trans. with foreign affiliates 17.1 -14.5 5.6 22.8 6.4 -14.5 3.0 5.8 3.0 16

 17 FL733093005 Other 44.3 40.9 40.5 43.7 39.1 40.9 42.7 44.6 42.7 17

 18 FL734190005 Total liabilities 1557.1 1687.7 1636.9 1716.2 1672.9 1687.7 1646.4 1724.7 1718.7 18

 19 FL732151003 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 19

 20 FL734122005 Debt securities 1445.7 1577.3 1538.1 1606.8 1568.9 1577.3 1538.0 1617.7 1610.9 20

 21 FL733169103 Commercial paper 5.9 5.2 5.4 4.9 3.6 5.2 5.5 6.5 6.5 21

 22 FL733163003 Corporate bonds 1439.8 1572.2 1532.7 1601.9 1565.3 1572.2 1532.5 1611.2 1604.4 22

 23 LM733192305 Foreign direct investment: intercompany debt (2) 97.4 105.7 98.8 98.6 100.1 105.7 106.7 107.7 97.8 23

 24 FL733193005 Miscellaneous liabilities 14.0 4.7 0.1 10.9 3.9 4.7 1.5 -0.8 9.9 24

 Memo:

 25 LM733192103 Foreign direct investment: equity (2) 79.7 80.9 80.8 81.1 83.0 80.9 89.6 90.3 92.0 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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L.132 Other Financial Business (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL504090005 Total financial assets 772.6 1138.8 988.5 1074.6 1083.5 1138.8 1293.6 1252.5 1194.0 1

 2 FL713129005 Checkable deposits and currency 61.2 154.2 160.4 133.7 145.9 154.2 185.8 201.1 208.8 2

 3 FL503034005 Money market fund shares 319.5 480.3 406.9 467.3 468.5 480.3 502.8 511.2 492.2 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 250.0 365.8 272.2 332.2 334.6 365.8 413.6 380.0 325.1 5

 6 FL503069105 Open market paper 179.1 180.6 195.4 156.5 158.9 180.6 281.1 244.4 202.2 6

 7 FL503061303 Nonmarketable Treasury securities 0.0 95.7 0.0 95.6 95.7 95.7 42.6 34.1 22.3 7

 8 FL503063005 Corporate and foreign bonds 70.9 83.3 76.8 78.9 78.4 83.3 83.9 96.8 96.2 8

 9 FL503062003 Municipal securities 0.0 6.3 0.0 1.2 1.7 6.3 6.1 4.8 4.4 9

 10 FL503069005 Loans (other loans and advances) 8.4 31.0 14.2 12.2 15.7 31.0 28.8 27.6 27.2 10

 11 FL503064105 Corporate equities 0.0 8.8 0.0 8.0 8.6 8.8 8.5 1.1 0.0 11

 12 FL503090005 Miscellaneous assets 133.4 98.6 134.9 121.2 110.1 98.6 153.9 131.5 140.7 12

 13 FL503070655 Receivables due from brokers and dealers 13.9 6.7 12.5 9.8 9.1 6.7 19.7 14.7 14.9 13

 14 FL753194503 Investment in foreign banking offices 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 125.8 14

 15 FL663194505 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL504190005 Total liabilities 772.6 1138.8 988.5 1074.6 1083.5 1138.8 1293.6 1252.5 1194.0 16

 17 FL504122005 Debt securities 145.7 118.2 143.1 132.9 119.2 118.2 174.9 149.3 157.5 17

 18 FL503169105 Open market paper 145.7 118.2 143.1 132.9 119.2 118.2 174.9 149.3 157.5 18

 19 FL503163003 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL504123005 Loans 2.4 43.0 2.4 17.5 22.3 43.0 41.3 39.2 24.1 20

 21 FL713068505 Depository institution loans n.e.c. 0.0 40.7 0.0 15.1 20.0 40.7 38.9 36.9 21.8 21

 22 FL503169205 Other loans and advances 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 22

 23 FL503192305 Foreign direct investment: intercompany debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL503190005 Miscellaneous liabilities 624.6 977.6 843.1 924.2 941.9 977.6 1077.4 1064.0 1012.4 24

 25 FL663070653 Payables due to brokers and dealers 70.6 131.2 185.1 127.8 127.4 131.2 168.7 182.2 202.5 25

 26 FL663070675 Securities lending (net) 630.7 629.4 571.7 629.2 598.0 629.4 613.6 685.9 728.9 26

 27 LM503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FL503194205 Equity in Federal Reserve facilities (2) 0.0 112.5 0.0 112.5 112.5 112.5 50.3 40.3 26.9 28

 29 FL503193005 Other -76.8 104.5 86.3 54.7 104.0 104.5 244.8 155.7 54.2 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.
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L.133 Rest of the World

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL264090005 Total financial assets 34921.4 39843.1 32218.7 35344.9 36950.5 39843.1 41045.7 43519.1 43984.7 1

 2 LM313111303 SDR allocations 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 161.8 2

 3 FL264016005 Net interbank assets 123.6 152.9 473.4 287.7 221.8 152.9 38.7 32.7 180.8 3

 4 FL263020005 U.S. checkable deposits and currency 987.0 1143.1 1059.8 1073.4 1106.7 1143.1 1168.1 1182.9 1184.2 4

 5 FL263030005 U.S. time deposits 599.8 698.8 712.8 685.9 685.7 698.8 737.1 755.9 754.0 5

 6 FL263034003 Money market fund shares 125.1 127.1 130.5 135.9 129.3 127.1 131.9 133.1 130.3 6

 7 FL262051005 Security repurchase agreements 1064.8 1075.2 1186.5 1067.6 1045.3 1075.2 1153.5 1271.6 1357.9 7

 8 LM264022005 Debt securities 12246.3 12906.1 12177.2 12700.8 12723.0 12906.1 12684.4 13081.8 12993.7 8

 9 LM263069103 Open market paper 130.2 85.3 99.9 106.3 88.2 85.3 101.8 105.8 103.2 9

 10 LM263061105 Treasury securities 6844.2 7070.8 6949.5 7046.6 7069.2 7070.8 7028.4 7202.2 7254.0 10

 11 LM263061705 Agency- and GSE-backed securities 1203.8 1195.7 1283.6 1236.4 1182.5 1195.7 1156.1 1144.0 1131.4 11

 12 FL263062003 Municipal securities 103.7 108.5 102.9 107.0 107.5 108.5 110.2 113.2 112.9 12

 13 LM263063005 U.S. corporate bonds (1) 3964.3 4445.8 3741.4 4204.5 4275.6 4445.8 4287.9 4516.7 4392.2 13

 14 FL263069500 Loans to U.S. corporate business 830.8 904.0 877.8 882.0 890.1 904.0 934.7 952.3 983.6 14

 15 FL263069563 Of which: loans held by CLOs (2) 522.6 566.0 532.6 557.2 561.2 566.0 577.1 595.8 617.9 15

 16 LM263064105 U.S. corporate equities 8199.2 10449.3 6733.2 8131.4 8966.6 10449.3 11168.2 12092.6 12143.6 16

 17 LM263064203 Mutual fund shares 896.1 1029.2 794.6 901.6 951.3 1029.2 1074.6 1146.4 1185.7 17

 18 LM263070005 Trade receivables 349.1 430.0 364.8 389.7 408.6 430.0 437.5 445.3 447.5 18

 19 FL543141905 Life insurance reserves 10.7 1.6 8.7 5.8 3.9 1.6 1.6 1.6 1.6 19

 20 FL543151905 Pension entitlements 16.0 2.4 13.0 8.6 5.8 2.4 2.4 2.4 2.4 20

 21 LM263092001 Foreign direct investment in U.S. (3) 9362.9 10813.5 7577.2 8966.1 9704.9 10813.5 11402.4 12308.6 12393.5 21

 22 FL263076005 Miscellaneous assets (insurance receivables) 61.3 59.1 61.0 59.8 57.8 59.1 60.6 61.7 64.1 22

 23 FL264190005 Total liabilities 7238.6 7673.2 7585.6 7515.6 7416.9 7673.2 7619.6 7660.4 7946.3 23

 24 LM263111005 U.S. official reserve assets (4) 118.3 133.7 116.7 122.7 127.8 133.7 127.9 129.1 237.5 24

 25 LM263191005 U.S. private deposits 766.9 868.3 941.2 810.0 871.7 868.3 901.5 904.1 870.0 25

 26 FL262151003 Security repurchase agreements 1225.7 1287.1 1329.9 1241.5 1216.1 1287.1 1153.9 1122.3 1142.8 26

 27 LM264122005 Debt securities 3800.4 4010.1 3464.6 3724.8 3824.3 4010.1 4033.6 4086.8 4216.3 27

 28 FL263169105 Commercial paper 452.8 463.8 423.6 437.4 456.0 463.8 506.0 523.8 513.3 28

 29 LM263163005 Bonds 3347.6 3546.3 3041.0 3287.4 3368.3 3546.3 3527.6 3563.1 3703.0 29

 30 LM263163063 Of which: CLO securities (2) 373.5 400.0 380.1 386.8 393.4 400.0 418.9 434.3 455.3 30

 31 FL264123005 Loans 690.3 753.6 778.8 741.2 736.1 753.6 771.9 799.0 838.6 31

 32 FL263168005 Depository institution loans n.e.c. 632.6 698.6 715.9 685.7 685.0 698.6 716.2 743.7 792.3 32

 33 FL263169005 Other loans and advances 57.6 55.0 63.0 55.5 51.1 55.0 55.7 55.3 46.3 33

 34 LM263170005 Trade payables 81.6 81.6 77.8 76.6 80.9 81.6 86.0 83.9 84.1 34

 35 FL263140005 Life insurance reserves 68.3 83.8 71.8 76.7 80.0 83.8 83.2 84.3 85.1 35

 36 FL263150005 Pension entitlements 80.8 127.8 91.1 106.2 116.1 127.8 128.3 130.4 132.0 36

 37 LM263192305 U.S. direct investment abroad: debt (1,3) 130.0 64.1 92.8 108.6 77.8 64.1 63.2 46.2 61.0 37

 38 FL263190005 Miscellaneous liabilities 276.1 263.0 620.7 507.2 286.1 263.0 270.3 274.3 279.0 38

 39 FL313092803 U.S. equity in IBRD, etc. 67.5 69.3 68.8 68.8 69.0 69.3 70.5 70.5 71.3 39

 40 FL263191103 Nonofficial foreign currencies 6.4 20.5 360.3 229.5 26.5 20.5 5.1 3.2 3.0 40

 41 FL263194735 Net investment by holding companies 17.1 -14.5 5.6 22.8 6.4 -14.5 3.0 5.8 3.0 41

 42 FL263195105 Accident and health insurance reserves 18.6 24.4 19.9 21.8 23.0 24.4 24.4 24.5 24.8 42

 43 FL263176005 Policy payables 166.6 163.3 166.1 164.3 161.3 163.3 167.2 170.3 177.1 43

 Memo:

 44 LM263164100 Foreign equities held by U.S. residents (5) 9478.0 10535.9 7442.6 8574.9 9142.7 10535.9 11043.2 11733.4 11721.2 44

 45 LM263192101 U.S. direct investment abroad: equity (3) 7449.1 8176.6 5713.6 6747.3 7130.4 8176.6 8668.8 9321.3 9291.4 45

 Financial derivatives (6)

 46 FL263098013 Gross positive fair value 1770.3 2552.4 2965.0 2728.6 2518.2 2552.4 2125.8 2068.3 ND 46

 47 FL263198013 Gross negative fair value 1790.4 2545.7 2999.0 2750.8 2545.2 2545.7 2158.9 2106.1 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, December 9, 2021

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM893111005 Total liabilities 167.1 184.6 164.9 171.3 177.5 184.6 177.9 179.4 399.3 1

 2 LM313111303 Federal government: SDR allocations 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 161.8 2

 3 LM263111005 Rest of the world 118.3 133.7 116.7 122.7 127.8 133.7 127.9 129.1 237.5 3

 4 LM313011303 SDR holdings 50.7 52.9 50.1 50.6 51.7 52.9 52.1 52.4 163.9 4

 5 LM263111403 Reserve position in IMF 26.2 36.4 25.5 30.6 33.1 36.4 33.7 34.3 31.2 5

 6 LM263111503 Other reserves 41.4 44.4 41.1 41.5 42.9 44.4 42.1 42.3 42.4 6

 7 FL893011005 Total assets 178.2 195.6 176.0 182.4 188.6 195.6 189.0 190.5 410.3 7

 8 FL313011005 Federal government 97.8 111.7 96.4 102.2 106.5 111.7 107.0 108.1 216.8 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 50.7 52.9 50.1 50.6 51.7 52.9 52.1 52.4 163.9 10

 11 LM313011405 Reserve position in IMF 26.4 36.6 25.8 30.9 33.4 36.6 33.9 34.6 31.5 11

 12 LM313011505 Other reserves 20.6 22.1 20.5 20.7 21.4 22.1 21.0 21.1 21.4 12

 13 LM313111303 Rest of the world: SDR allocations 48.8 50.9 48.2 48.6 49.7 50.9 50.1 50.4 161.8 13

 14 FL713011005 Monetary authority 31.6 33.1 31.4 31.6 32.3 33.1 31.9 32.0 31.7 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 20.8 22.3 20.6 20.9 21.6 22.3 21.2 21.2 21.0 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 23.2 23.1 23.2 23.2 23.1 23.1 23.1 23.1 23.0 3

 4 FL713012003 Asset: Monetary authority 50.1 50.5 50.2 50.3 50.4 50.5 50.5 50.6 50.8 4

 5 FL903012005 Discrepancy (seigniorage) -26.9 -27.3 -27.0 -27.1 -27.2 -27.3 -27.4 -27.5 -27.8 5

L.202 U.S. Deposits in Foreign Countries

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

 1 LM263191005 Total rest of the world liability 766.9 868.3 941.2 810.0 871.7 868.3 901.5 904.1 870.0 1

 Held by:

 2 LM153091003 Household sector 40.8 48.6 50.2 43.7 47.7 48.6 50.0 49.4 48.2 2

 3 FL103091003 Nonfinancial corporate business 131.0 142.6 111.3 145.3 159.6 142.6 141.8 176.8 168.8 3

 4 FL633091003 Money market funds 7.4 0.7 3.8 2.1 0.9 0.7 2.2 0.3 0.9 4

 5 FL903091005 Discrepancy--unallocated assets 587.7 676.3 776.0 618.8 663.5 676.3 707.6 677.7 652.2 5
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Z.1, December 9, 2021 113

L.203 Net Interbank Transactions

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL794110005 Total liabilities 1711.9 3258.2 3063.4 3210.9 3080.8 3258.2 3829.3 3657.0 4124.7 1

 2 FL714110005 Monetary authority 1632.3 3094.1 2573.3 2879.0 2833.3 3094.1 3770.2 3603.9 3948.4 2

 3 FL764110005 U.S.-chartered depository institutions 7.7 11.8 67.4 127.8 93.7 11.8 -98.1 -63.0 -92.1 3

 4 FL754110005 Foreign banking offices in U.S. 112.6 188.8 468.0 243.5 193.5 188.8 187.4 148.4 306.5 4

 5 FL744110005 Banks in U.S.-affiliated areas -1.6 -1.4 -2.0 -2.0 -1.5 -1.4 -1.3 -1.3 -1.4 5

 6 FL474110005 Credit unions -39.1 -35.2 -43.3 -37.4 -38.2 -35.2 -28.9 -31.1 -36.8 6

 7 FL894010005 Total assets 1755.2 3291.1 3122.7 3249.4 3120.4 3291.1 3849.2 3677.4 4145.2 7

 8 FL714010005 Monetary authority -0.6 44.0 76.0 82.7 65.3 44.0 40.3 40.8 16.0 8

 9 FL763020005 U.S.-chartered depository institutions 990.8 2289.0 1575.5 2059.0 2008.0 2289.0 2700.0 2566.8 2747.4 9

 10 FL753020005 Foreign banking offices in U.S. 554.1 602.5 873.8 644.6 649.6 602.5 811.0 799.1 966.8 10

 11 FL743013003 Banks in U.S.-affiliated areas 4.4 14.7 8.0 13.4 16.0 14.7 14.5 23.2 22.4 11

 12 FL473013005 Credit unions 83.0 188.0 116.0 162.0 159.7 188.0 244.6 214.8 211.9 12

 13 FL264016005 Rest of the world 123.6 152.9 473.4 287.7 221.8 152.9 38.7 32.7 180.8 13

 14 FL904010005 Discrepancy -43.3 -32.9 -59.2 -38.5 -39.6 -32.9 -20.0 -20.4 -20.5 14

 Memo:

 Vault cash:

 15 FL703025005 Liab.: Monetary authority 83.4 99.2 99.0 92.0 90.0 99.2 97.5 92.3 89.2 15

 16 FL763025000 Asset: U.S.-chartered depository institutions 83.4 99.2 99.0 91.9 90.0 99.2 97.5 92.3 89.2 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 1548.8 2994.9 2474.3 2787.0 2743.2 2994.9 3672.7 3511.6 3859.2 18

 19 FL763013005 Asset: U.S.-chartered depository institutions 907.3 2189.8 1476.5 1967.1 1918.0 2189.8 2602.5 2474.5 2658.3 19

 20 FL753013003 Foreign banking offices in U.S. 554.1 602.5 873.8 644.6 649.6 602.5 811.0 799.1 966.8 20

 21 FL743013003 Banks in U.S.-affiliated areas 4.4 14.7 8.0 13.4 16.0 14.7 14.5 23.2 22.4 21

 22 FL473013005 Credit unions 83.0 188.0 116.0 162.0 159.7 188.0 244.6 214.8 211.9 22

 Other transactions with the monetary authority

 23 FL714010075 Liab: U.S.-chartered depository institutions -0.6 43.6 76.0 82.2 64.8 43.6 40.1 40.6 15.8 23

 24 FL713068743 Credit unions 0.0 0.4 0.0 0.5 0.5 0.4 0.2 0.2 0.1 24

 25 FL714010005 Asset: Monetary authority -0.6 44.0 76.0 82.7 65.3 44.0 40.3 40.8 16.0 25

 26 FL713022003 Federal Reserve float -0.6 -0.6 -0.7 -0.7 -1.3 -0.6 -1.1 -1.1 -0.7 26

 27 FL713068705 Loans to depository institutions 0.0 44.6 76.6 83.5 66.6 44.6 41.4 41.8 16.6 27

 Transactions with banks in foreign countries (net):

 28 FL764116205 Liab.: U.S.-chartered depository institutions (net) 47.6 -5.1 49.6 81.6 51.5 -5.1 -113.6 -76.5 -76.0 28

 29 FL763192605 Due to foreign affiliates 369.8 414.4 413.7 421.6 421.6 414.4 378.1 382.3 397.1 29

 30 FL763092605 - Due from foreign affiliates 322.2 419.5 364.1 340.0 370.1 419.5 491.7 458.9 473.1 30

 31 FL754116205 Foreign banking offices in U.S. (net) 151.2 207.8 500.1 263.3 215.9 207.8 206.9 169.5 318.1 31

 32 FL753192605 Due to foreign affiliates 982.1 1019.5 1311.6 1112.5 1032.3 1019.5 1036.7 986.5 1080.8 32

 33 FL753092605 - Due from foreign affiliates 830.9 811.7 811.6 849.2 816.5 811.7 829.8 817.1 762.7 33

 34 FL264116205 Less: Deposits at foreign banks 26.8 33.7 29.0 27.1 30.3 33.7 41.0 39.8 35.5 34

 35 FL764016205 U.S.-chartered depository institutions 15.2 23.0 19.0 19.7 20.6 23.0 27.4 28.2 27.1 35

 36 FL754016205 Foreign banking offices in U.S. 11.6 10.6 10.0 7.4 9.7 10.6 13.6 11.7 8.4 36

 37 FL264135125 Loans to foreign banks 69.7 44.6 68.7 56.4 46.2 44.6 42.7 49.3 50.9 37

 38 FL764035125 U.S.-chartered depository institutions 28.9 17.6 29.9 24.0 17.7 17.6 17.9 21.4 22.7 38

 39 FL754035125 Foreign banking offices in U.S. 40.8 27.0 38.8 32.3 28.5 27.0 24.8 27.9 28.2 39

 40 FL264035125 Plus: Loans from foreign banks 21.3 28.4 21.5 26.2 31.0 28.4 29.2 28.8 25.1 40

 41 FL274135123 U.S.-chartered depository institutions 11.8 17.4 11.5 15.3 18.4 17.4 17.7 18.1 14.7 41

 42 FL284135125 Foreign banking offices in U.S. 9.5 11.0 9.9 10.8 12.5 11.0 11.5 10.8 10.4 42

 43 FL264016005 Asset: Rest of the world (1) 123.6 152.9 473.4 287.7 221.8 152.9 38.7 32.7 180.8 43

 Transactions between U.S. depository institutions (net):

 44 FL764112005 U.S.-chartered depository institutions (net) -7.0 -3.4 -20.7 -7.7 -2.7 -3.4 3.0 4.4 3.1 44

 45 FL764112205 Due to (3): 23.8 27.7 13.7 26.5 26.9 27.7 38.5 37.5 39.9 45

 46 FL754012205 Foreign banking offices in U.S. 26.4 23.6 27.6 25.1 26.2 23.6 28.0 25.3 22.2 46

 47 FL743020005 Banks in U.S.-affiliated areas 1.6 1.4 2.0 2.0 1.5 1.4 1.3 1.3 1.4 47

 48 FL474012205 Credit unions 39.1 35.6 43.3 37.9 38.7 35.6 29.1 31.2 36.9 48

 49 FL754112205 - Due from: Foreign banking offices in U.S. 30.8 31.1 34.4 34.1 29.6 31.1 35.4 33.1 36.8 49

 50 FL904010005 Unallocated (2) -43.3 -32.9 -59.2 -38.5 -39.6 -32.9 -20.0 -20.4 -20.5 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, December 9, 2021

L.204 Checkable Deposits and Currency

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL793120005 Total liabilities 4856.0 9128.6 5771.8 7671.3 7926.9 9128.6 9034.1 9127.2 8845.4 1

 2 FL713120005 Monetary authority 2207.3 3945.7 2593.2 3792.1 3914.6 3945.7 3521.7 3178.2 2570.9 2

 3 FL713123005 Federal government cash and deposits 404.0 1728.6 515.6 1722.1 1781.7 1728.6 1122.0 852.0 215.2 3

 4 FL713124005 Due to government-sponsored enterprises 12.5 51.0 120.0 42.0 25.5 51.0 134.1 28.6 33.2 4

 5 FL713129005 Due to other financial business 61.2 154.2 160.4 133.7 145.9 154.2 185.8 201.1 208.8 5

 6 FL713122605 Deposits due to foreign 5.2 21.9 17.4 16.3 18.9 21.9 33.2 5.3 5.7 6

 7 FL713125005 Currency outside banks 1724.2 1989.9 1779.7 1878.1 1942.5 1989.9 2046.5 2091.1 2108.0 7

 8 FL763127005 U.S.-chartered depository institutions 2191.5 4572.8 2649.7 3303.4 3416.4 4572.8 4803.2 5236.0 5547.3 8

 9 FL763123005 Federal government deposits 1.6 2.7 1.7 1.9 2.4 2.7 2.4 4.5 3.6 9

 10 FL763128000 State and local government deposits 139.1 229.9 142.3 167.3 178.1 229.9 248.6 296.6 318.4 10

 11 FL763122605 Deposits due to foreign 78.9 61.9 91.0 70.5 63.0 61.9 58.6 76.2 77.7 11

 12 FL763129205 Private domestic deposits 1971.8 4278.3 2414.7 3063.7 3172.9 4278.3 4493.6 4858.8 5147.6 12

 13 FL753127005 Foreign banking offices in U.S. 199.4 256.3 251.4 256.1 265.8 256.3 306.8 296.0 304.9 13

 14 FL753122603 Deposits due to foreign 77.6 112.8 100.2 106.0 107.3 112.8 119.6 132.1 124.1 14

 15 FL753129205 Private domestic deposits 121.7 143.5 151.3 150.1 158.5 143.5 187.2 163.9 180.7 15

 16 FL743127003 Banks in U.S.-affiliated areas 45.7 56.7 46.5 54.4 56.5 56.7 61.3 68.1 64.7 16

 17 FL473127003 Credit unions 212.1 297.1 231.0 265.4 273.7 297.1 341.1 348.9 357.7 17

 18 FL793120005 Total assets 4856.0 9128.6 5771.8 7671.3 7926.9 9128.6 9034.1 9127.2 8845.4 18

 19 FL153020005 Household sector 1173.4 2883.9 1317.2 1595.2 1732.2 2883.9 3308.8 3686.4 3714.7 19

 20 FL143020005 Nonfinancial business 1677.8 2442.5 1954.6 2456.0 2543.3 2442.5 2446.5 2437.8 2600.9 20

 21 FL103020000 Corporate 1339.9 2005.2 1559.9 2014.0 2104.4 2005.2 1986.2 1963.4 2104.9 21

 22 FL113020005 Noncorporate 337.9 437.3 394.7 442.0 438.9 437.3 460.3 474.4 496.0 22

 23 FL313020005 Federal government 407.2 1732.1 518.9 1725.4 1784.9 1732.1 1117.1 855.7 218.4 23

 24 FL213020005 State and local governments 139.1 229.9 142.3 167.3 178.1 229.9 248.6 296.6 318.4 24

 25 FL793020005 Domestic financial sectors 469.6 694.4 777.5 651.9 579.1 694.4 734.2 663.5 804.6 25

 26 FL513020005 Property-casualty insurance companies 47.6 50.2 44.2 54.5 46.3 50.2 57.5 54.0 63.5 26

 27 FL543020005 Life insurance companies 94.7 127.7 143.6 148.5 132.1 127.7 121.3 140.2 138.4 27

 28 FL573020005 Private pension funds 24.1 32.2 26.8 28.7 30.5 32.2 32.7 34.1 35.2 28

 29 FL343020033 Federal government retirement funds 0.7 0.9 0.7 0.8 0.8 0.9 0.9 0.9 1.0 29

 30 FL223020043 State and local govt. retirement funds 23.0 27.7 22.1 20.6 21.0 27.7 21.8 24.1 24.0 30

 31 FL633020000 Money market funds 1.2 -7.8 -25.8 -45.1 -74.0 -7.8 -53.5 -71.1 29.3 31

 32 FL403020005 Government-sponsored enterprises 34.6 92.5 142.0 71.1 57.6 92.5 153.9 68.6 86.4 32

 33 FL613020003 Finance companies 12.2 16.4 16.5 20.7 17.0 16.4 15.7 16.1 16.9 33

 34 FL643020005 REITs 44.9 62.1 85.0 79.5 68.0 62.1 61.2 62.8 64.0 34

 35 FL663020003 Brokers and dealers 125.2 138.4 162.0 139.0 133.9 138.4 136.9 132.6 137.1 35

 36 FL713129005 Other financial business 61.2 154.2 160.4 133.7 145.9 154.2 185.8 201.1 208.8 36

 37 FL263020005 Rest of the world 987.0 1143.1 1059.8 1073.4 1106.7 1143.1 1168.1 1182.9 1184.2 37

 38 FL263027003 Checkable deposits 161.8 196.5 208.6 192.8 189.2 196.5 211.5 213.6 207.6 38

 39 FL263025003 Currency 825.2 946.5 851.2 880.6 917.5 946.5 956.6 969.3 976.6 39

 40 FL903020005 Mail float 1.9 2.8 1.4 2.1 2.6 2.8 10.8 4.3 4.3 40
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L.205 Time and Savings Deposits 

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL703130005 Total liabilities 12884.6 13679.8 13500.0 14171.0 14212.6 13679.8 14194.9 13989.4 14137.5 1

 2 FL763130005 U.S.-chartered depository institutions 10805.4 11461.2 11430.4 11959.9 12004.0 11461.2 11865.3 11660.8 11806.5 2

 3 FL753130005 Foreign banking offices in U.S. 908.8 858.0 859.3 917.5 883.8 858.0 893.1 885.8 867.2 3

 4 FL743130003 Banks in U.S.-affiliated areas 39.8 42.9 41.5 42.7 43.4 42.9 46.2 47.0 42.1 4

 5 FL473130005 Credit unions 1130.6 1317.7 1168.7 1250.9 1281.3 1317.7 1390.2 1395.8 1421.7 5

 6 FL703130005 Total assets 12884.6 13679.8 13500.0 14171.0 14212.6 13679.8 14194.9 13989.4 14137.5 6

 7 FL153030005 Household sector 9834.5 10305.6 10118.1 10646.8 10749.8 10305.6 10792.1 10605.2 10711.0 7

 8 FL143030005 Nonfinancial business 1308.0 1537.7 1480.1 1568.6 1568.7 1537.7 1562.0 1583.4 1655.2 8

 9 FL103030003 Corporate 201.5 308.7 298.9 329.8 333.5 308.7 299.2 305.8 344.2 9

 10 FL113030003 Noncorporate 1106.5 1229.0 1181.2 1238.9 1235.2 1229.0 1262.8 1277.7 1311.0 10

 11 FL313030003 Federal government 2.3 1.0 1.9 2.1 1.6 1.0 9.9 1.3 1.7 11

 12 FL213030000 State and local governments 423.2 413.6 430.4 429.7 434.1 413.6 406.5 392.0 384.6 12

 13 FL793030005 Domestic financial sectors 716.8 723.1 756.6 837.8 772.7 723.1 687.3 651.6 631.0 13

 14 FL573030005 Private pension funds 14.5 7.2 13.4 11.5 9.5 7.2 5.9 6.7 6.7 14

 15 FL223030043 State and local govt. retirement funds 4.5 2.3 4.2 2.8 2.4 2.3 2.3 2.7 2.7 15

 16 FL633030000 Money market funds 258.8 140.6 239.4 215.4 180.2 140.6 184.7 148.8 151.9 16

 17 FL403030005 Government-sponsored enterprises 15.8 8.8 16.0 13.3 8.5 8.8 7.2 6.3 6.3 17

 18 FL613030003 Finance companies 36.7 49.3 49.5 62.2 51.1 49.3 47.2 48.3 50.7 18

 19 FL733030003 Holding companies 386.4 514.9 434.1 532.7 521.0 514.9 440.0 438.9 412.7 19

 20 FL263030005 Rest of the world 599.8 698.8 712.8 685.9 685.7 698.8 737.1 755.9 754.0 20

L.206 Money Market Fund Shares

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

 1 FL634090005 Total assets 3634.3 4335.6 4338.0 4635.9 4410.1 4335.6 4500.4 4539.3 4544.6 1

 2 FL153034005 Household sector 2210.7 2548.1 2396.8 2660.0 2626.3 2548.1 2728.4 2772.7 2754.8 2

 3 FL103034000 Nonfinancial corporate business 558.3 677.9 919.6 868.9 686.8 677.9 628.6 609.7 644.8 3

 4 FL113034003 Nonfinancial noncorporate business 110.4 119.5 113.9 118.3 119.7 119.5 120.2 120.6 121.2 4

 5 FL213034003 State and local governments 26.5 34.5 32.4 35.3 34.3 34.5 35.8 36.1 35.3 5

 6 FL513034005 Property-casualty insurance companies 24.7 34.7 24.7 32.8 30.1 34.7 38.5 32.6 41.3 6

 7 FL543034005 Life insurance companies 58.6 66.5 88.4 84.6 73.0 66.5 62.5 66.7 62.4 7

 8 FL573034005 Private pension funds 179.7 222.4 195.0 204.9 214.6 222.4 225.1 231.6 237.4 8

 9 FL223034005 State and local govt. retirement funds 20.7 24.8 29.9 27.9 27.5 24.8 26.5 25.0 25.0 9

 10 FL503034005 Other financial business 319.5 480.3 406.9 467.3 468.5 480.3 502.8 511.2 492.2 10

 11 FL263034003 Rest of the world 125.1 127.1 130.5 135.9 129.3 127.1 131.9 133.1 130.3 11
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L.207 Federal Funds and Security Repurchase Agreements (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL892150005 Total liabilities 4426.5 4233.8 4788.6 4095.0 4100.6 4233.8 4058.7 4845.4 5543.7 1

 2 FL712151003 Monetary authority 336.6 216.1 569.1 233.0 205.2 216.1 352.2 1260.9 1905.2 2

 3 FL762150005 U.S.-chartered depository institutions 167.0 170.9 191.1 190.5 179.0 170.9 187.5 143.1 150.7 3

 4 FL762152005 Federal funds (2) 38.7 21.5 49.1 34.5 20.5 21.5 19.9 19.9 17.5 4

 5 FL762151005 Security repurchase agreements 128.4 149.4 142.1 156.0 158.5 149.4 167.6 123.2 133.3 5

 6 FL752150005 Foreign banking offices in U.S. 550.0 545.0 597.2 498.2 540.9 545.0 557.5 542.0 567.7 6

 7 FL752152005 Federal funds (2) 19.2 12.3 25.7 21.9 18.1 12.3 24.4 30.2 26.4 7

 8 FL752151005 Security repurchase agreements 530.8 532.6 571.5 476.2 522.8 532.6 533.1 511.7 541.3 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 0.3 0.3 0.2 0.3 0.3 0.2 10

 11 FL542151073 Life insurance companies 17.5 18.6 25.4 21.4 25.5 18.6 15.2 15.4 16.9 11

 12 FL402150005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 12

 13 FL642151073 REITs 379.3 221.7 259.8 229.8 220.3 221.7 218.4 210.8 205.3 13

 14 FL662151003 Brokers and dealers 1750.0 1774.2 1815.9 1680.4 1713.2 1774.2 1573.6 1550.5 1554.7 14

 15 FL732151003 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 15

 16 FL262151003 Rest of the world 1225.7 1287.1 1329.9 1241.5 1216.1 1287.1 1153.9 1122.3 1142.8 16

 17 FL892050005 Total assets 5141.9 4890.4 5547.1 4768.2 4741.7 4890.4 4606.2 5251.0 5878.5 17

 18 FL102051003 Nonfinancial corporate business 13.4 39.8 27.4 32.4 30.3 39.8 27.1 36.8 30.8 18

 19 FL212051003 State and local governments 163.6 182.9 161.4 174.2 178.9 182.9 189.1 195.5 201.3 19

 20 FL712051000 Monetary authority 255.6 0.0 262.7 58.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL762050005 U.S.-chartered depository institutions 358.5 538.3 331.3 560.3 498.1 538.3 294.3 300.1 287.4 21

 22 FL762052005 Federal funds (2) 24.2 25.5 21.3 32.0 19.9 25.5 27.6 27.4 25.7 22

 23 FL762051005 Security repurchase agreements 334.3 512.8 309.9 528.2 478.2 512.8 266.7 272.7 261.7 23

 24 FL752050005 Foreign banking offices in U.S. 379.0 323.7 327.2 302.2 336.1 323.7 307.7 276.2 299.1 24

 25 FL752052005 Federal funds (2) 0.3 0.3 0.6 1.1 1.3 0.3 1.0 0.1 0.3 25

 26 FL752051005 Security repurchase agreements 378.7 323.3 326.6 301.1 334.9 323.3 306.7 276.1 298.8 26

 27 FL472050053 Credit unions 0.8 0.5 0.8 0.8 0.8 0.5 0.5 0.3 0.2 27

 28 FL472052053 Federal funds 0.3 0.1 0.3 0.1 0.2 0.1 0.1 0.1 0.1 28

 29 FL472051053 Security repurchase agreements 0.6 0.4 0.5 0.6 0.6 0.4 0.4 0.1 0.1 29

 30 FL512051005 Property-casualty insurance companies 2.0 2.2 2.3 3.0 3.1 2.2 2.3 2.5 2.2 30

 31 FL542051075 Life insurance companies 6.3 8.2 9.6 8.5 10.6 8.2 7.0 7.1 7.8 31

 32 FL572051005 Private pension funds 15.8 21.1 16.7 18.1 19.5 21.1 21.9 23.4 24.7 32

 33 FL222051043 State and local govt. retirement funds 7.0 8.1 6.5 4.0 2.6 8.1 18.2 27.3 26.7 33

 34 FL632051000 Money market funds 1175.1 1006.3 1468.4 906.1 997.2 1006.3 1055.8 1585.6 2056.2 34

 35 FL652051003 Mutual funds 102.8 108.2 107.3 104.1 96.7 108.2 114.6 118.7 127.7 35

 36 FL402050005 Government-sponsored enterprises 195.2 212.5 153.9 225.0 206.9 212.5 146.8 256.8 215.2 36

 37 FL402052033 Of which: FHLB federal funds (3) 51.4 31.5 74.4 53.7 44.5 31.5 54.3 47.9 51.9 37

 38 FL662051003 Brokers and dealers 1400.1 1322.1 1483.0 1282.2 1279.0 1322.1 1238.0 1133.4 1211.2 38

 39 FL732051003 Holding companies 2.0 41.4 2.0 21.8 36.5 41.4 29.4 15.8 30.1 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 1064.8 1075.2 1186.5 1067.6 1045.3 1075.2 1153.5 1271.6 1357.9 41

 42 FL902050005 Discrepancy -715.5 -656.6 -758.5 -673.2 -641.1 -656.6 -547.5 -405.6 -334.9 42

 Memo:

 43 FL072052006 Effective federal funds rate (percent) (4) 1.55 0.09 0.65 0.08 0.09 0.09 0.07 0.08 0.08 43

 Federal Reserve’s reverse repurchase agreement operations:

 44 FL712151103 Liability: Monetary authority (5) 64.1 9.7 284.9 1.0 0.9 9.7 134.3 991.9 1604.9 44

 45 FL632051103 Asset: Money market funds (6) 46.9 9.7 284.9 1.0 0.9 9.7 125.3 855.1 1438.9 45

 46 FL792051115 Other financial institutions (7) 17.2 0.0 0.0 0.0 0.0 0.0 9.0 136.8 165.9 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FL894122005 Total debt securities 46707.5 53093.6 47725.1 51188.9 51903.5 53093.6 53782.6 54522.1 54816.1 1

 2 FL893169175 Open market paper 1045.2 986.9 1088.8 1006.6 956.9 986.9 1105.2 1085.4 1071.4 2

 3 FL313161105 Treasury securities 19018.7 23600.9 19518.4 22370.7 22900.4 23600.9 23943.0 24301.5 24249.9 3

 4 FL893161705 Agency- and GSE-backed securities 9429.5 10086.7 9769.1 9743.7 9866.2 10086.7 10226.4 10407.5 10535.9 4

 5 FL383162005 Municipal securities 3894.3 3978.7 3900.8 3921.5 3956.4 3978.7 4005.1 4027.9 4035.6 5

 6 FL893163005 Corporate and foreign bonds 13319.8 14440.5 13448.0 14146.5 14223.5 14440.5 14503.0 14699.8 14923.2 6

 By sector

 7 FL894122005 Total liabilities 46707.5 53093.6 47725.1 51188.9 51903.5 53093.6 53782.6 54522.1 54816.1 7

 8 FL384122005 Domestic nonfinancial sectors 28930.5 34209.2 29668.1 32900.8 33481.3 34209.2 34696.2 35084.1 35107.4 8

 9 FL163162003 Nonprofit organizations (2) 212.8 202.5 209.8 207.6 206.2 202.5 203.2 202.9 201.8 9

 10 FL104122005 Nonfinancial corporate business 6582.9 7200.1 6816.9 7178.1 7195.5 7200.1 7319.3 7330.8 7400.4 10

 11 FL314122005 Federal government 19039.9 23621.1 19539.6 22391.7 22920.6 23621.1 23962.8 24321.4 24269.4 11

 12 FL213162005 State and local governments 3094.9 3185.6 3101.7 3123.5 3158.9 3185.6 3210.9 3228.9 3235.7 12

 13 FL794122005 Domestic financial sectors 13976.6 14874.3 14592.4 14563.3 14597.9 14874.3 15052.9 15351.2 15492.4 13

 14 FL764122005 U.S.-chartered depository institutions 209.7 271.0 232.9 242.3 251.4 271.0 283.8 283.4 276.5 14

 15 FL753169175 Foreign banking offices in U.S. 38.5 35.9 51.1 43.3 36.2 35.9 40.7 42.1 40.8 15

 16 FL403161705 Government-sponsored enterprises 7002.2 7638.1 7318.1 7305.1 7417.7 7638.1 7775.1 7928.1 8041.7 16

 17 FL413065005 Agency- and GSE-backed mortgage pools 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 2474.7 17

 18 FL674122005 ABS issuers 1180.2 1225.6 1233.1 1221.3 1220.4 1225.6 1230.3 1255.3 1299.3 18

 19 FL614122005 Finance companies 835.4 815.2 859.4 849.0 816.4 815.2 795.0 799.0 762.6 19

 20 FL644122005 REITs 539.3 580.8 529.9 565.4 573.8 580.8 587.3 612.2 613.8 20

 21 FL663163003 Brokers and dealers 173.9 183.9 256.9 179.7 165.4 183.9 196.3 204.5 214.6 21

 22 FL734122005 Holding companies 1445.7 1577.3 1538.1 1606.8 1568.9 1577.3 1538.0 1617.7 1610.9 22

 23 FL504122005 Other financial business 145.7 118.2 143.1 132.9 119.2 118.2 174.9 149.3 157.5 23

 24 LM264122005 Rest of the world 3800.4 4010.1 3464.6 3724.8 3824.3 4010.1 4033.6 4086.8 4216.3 24

 25 FL894022005 Total assets 47820.0 55722.5 49221.2 53523.0 54184.0 55722.5 54927.4 56178.6 56201.3 25

 26 FL384022005 Domestic nonfinancial sectors 6815.9 6935.9 6806.2 6717.9 6514.6 6935.9 6231.3 6158.8 6421.8 26

 27 LM154022005 Household sector 4770.1 4564.4 4623.7 4374.3 4177.0 4564.4 3941.1 3619.1 3798.8 27

 28 LM104022005 Nonfinancial corporate business 326.6 381.3 374.5 394.9 391.7 381.3 346.1 372.9 388.6 28

 29 LM114022005 Nonfinancial noncorporate business 80.0 86.6 82.6 85.8 86.8 86.6 84.0 84.3 83.5 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 1638.6 1903.2 1724.8 1862.4 1858.6 1903.2 1859.6 2082.0 2150.3 31

 32 FL794022005 Domestic financial sectors 28757.8 35880.5 30237.8 34104.4 34946.4 35880.5 36011.7 36938.0 36785.8 32

 33 LM714022005 Monetary authority 4011.9 7422.2 5312.9 6847.7 7163.7 7422.2 7548.3 8010.8 8399.6 33

 34 LM764022005 U.S.-chartered depository institutions 4083.5 5124.2 4271.9 4588.3 4866.7 5124.2 5485.2 5740.5 5972.4 34

 35 LM754022005 Foreign banking offices in U.S. 309.0 313.5 340.2 334.4 319.4 313.5 294.7 289.4 289.5 35

 36 LM744022003 Banks in U.S.-affiliated areas 33.6 41.3 34.0 38.8 39.3 41.3 43.8 42.4 47.3 36

 37 LM474022005 Credit unions 221.3 311.1 235.2 267.5 290.9 311.1 374.2 374.8 390.4 37

 38 LM514022005 Property-casualty insurance companies 1192.8 1270.2 1184.1 1248.6 1270.6 1270.2 1243.6 1296.6 1293.3 38

 39 LM544022005 Life insurance companies 4023.0 4431.5 3964.5 4257.3 4345.0 4431.5 4221.9 4333.3 4369.0 39

 40 LM574022005 Private pension funds 1565.8 1723.9 1601.1 1678.3 1692.1 1723.9 1642.8 1694.7 1703.8 40

 41 LM344022005 Federal government retirement funds 2177.4 2326.5 2181.6 2185.0 2232.0 2326.5 2317.5 2332.4 2141.7 41

 42 LM224022045 State and local govt. retirement funds 970.9 1068.0 977.2 1003.3 1026.3 1068.0 1068.9 1172.1 1158.3 42

 43 FL634022005 Money market funds 2181.3 3185.3 2568.7 3544.2 3290.6 3185.3 3234.3 2864.5 2295.5 43

 44 LM654022005 Mutual funds 5216.2 5681.7 4861.5 5158.6 5460.7 5681.7 5736.3 5932.8 5918.1 44

 45 LM554022005 Closed-end funds 171.5 175.7 151.5 162.0 166.2 175.7 178.2 183.0 185.2 45

 46 LM564022005 Exchange-traded funds 825.0 1065.5 830.5 944.1 1007.1 1065.5 1079.9 1156.5 1201.0 46

 47 LM404022005 Government-sponsored enterprises 467.7 520.1 484.2 547.9 557.0 520.1 471.9 450.5 440.1 47

 48 FL674022005 ABS issuers 33.0 30.3 32.0 30.6 29.5 30.3 28.6 27.4 28.7 48

 49 LM613063003 Finance companies 60.0 73.6 58.8 68.2 69.9 73.6 69.7 77.6 83.8 49

 50 LM644022005 REITs 386.7 236.9 246.3 241.8 234.8 236.9 223.7 216.4 197.4 50

 51 LM664022005 Brokers and dealers 450.6 390.7 507.7 500.6 433.7 390.7 189.0 218.3 206.7 51

 52 LM734022605 Holding companies 126.8 122.4 121.5 125.1 116.1 122.4 145.5 144.1 139.1 52

 53 FL504022005 Other financial business 250.0 365.8 272.2 332.2 334.6 365.8 413.6 380.0 325.1 53

 54 LM264022005 Rest of the world 12246.3 12906.1 12177.2 12700.8 12723.0 12906.1 12684.4 13081.8 12993.7 54

 55 LM904022005 Discrepancy (3) -1112.5 -2628.9 -1496.1 -2334.1 -2280.6 -2628.9 -1144.8 -1656.5 -1385.2 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893169175 Total liabilities 1045.2 986.9 1088.8 1006.6 956.9 986.9 1105.2 1085.4 1071.4 1

 2 FL893169105 Commercial paper 1045.2 986.9 1088.8 1006.6 956.9 986.9 1105.2 1085.4 1071.4 2

 3 FL103169100 Nonfinancial corporate business 194.5 132.2 243.1 166.1 122.2 132.2 144.0 132.0 122.4 3

 4 FL263169105 Foreign issues in U.S. 452.8 463.8 423.6 437.4 456.0 463.8 506.0 523.8 513.3 4

 5 FL263169110 Nonfinancial 57.8 48.8 63.9 72.2 61.2 48.8 52.1 58.5 60.1 5

 6 FL263169123 Financial 395.0 415.0 359.7 365.2 394.8 415.0 453.8 465.3 453.2 6

 7 FL793169100 Financial business 397.9 390.9 422.0 403.1 378.7 390.9 455.2 429.7 435.6 7

 8 FL763169103 U.S.-chartered depository institutions 68.4 99.2 80.0 84.5 89.5 99.2 106.3 106.0 102.9 8

 9 FL753169103 Foreign banking offices in U.S. 38.5 35.9 51.1 43.3 36.2 35.9 40.7 42.1 40.8 9

 10 FL673169105 ABS issuers 75.9 90.6 80.7 86.7 87.8 90.6 86.2 84.9 89.0 10

 11 FL613169100 Finance companies 63.5 41.8 61.7 50.8 42.5 41.8 41.5 40.9 38.9 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 5.2 5.4 4.9 3.6 5.2 5.5 6.5 6.5 13

 14 FL503169105 Other financial business 145.7 118.2 143.1 132.9 119.2 118.2 174.9 149.3 157.5 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 1045.2 986.9 1088.8 1006.6 956.9 986.9 1105.2 1085.4 1071.4 18

 19 FL103069100 Nonfinancial corporate business 217.6 255.9 227.8 219.9 238.7 255.9 235.6 268.2 274.3 19

 20 FL213069103 State and local governments 77.6 79.2 76.5 75.1 77.3 79.2 83.1 89.1 96.2 20

 21 FL713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL763069175 U.S.-chartered depository institutions (1) 0.0 2.0 27.5 11.8 3.9 2.0 0.1 0.0 0.0 22

 23 FL753069603 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL473069153 Credit unions 0.7 0.3 1.2 0.7 0.3 0.3 0.2 0.1 0.1 24

 25 FL513069105 Property-casualty insurance companies 9.7 8.9 11.1 13.4 13.3 8.9 9.2 10.2 9.1 25

 26 FL543069105 Life insurance companies 28.8 34.0 38.3 34.8 40.4 34.0 31.1 31.8 33.8 26

 27 FL573069105 Private pension funds 35.1 34.6 35.5 35.3 35.0 34.6 34.2 33.7 33.2 27

 28 FL223069143 State and local govt. retirement funds 10.8 8.9 13.9 9.1 9.2 8.9 15.2 19.6 19.3 28

 29 FL633069175 Money market funds 237.2 173.4 225.4 219.0 177.9 173.4 182.8 146.8 153.7 29

 30 FL653069100 Mutual funds 102.8 108.2 107.3 104.1 96.7 108.2 114.6 118.7 127.7 30

 31 FL403069105 Government-sponsored enterprises 7.1 7.3 8.2 7.5 6.2 7.3 7.0 5.4 4.7 31

 32 FL663069103 Brokers and dealers 8.5 8.2 20.7 13.0 11.0 8.2 9.2 11.7 14.0 32

 33 FL503069105 Other financial business 179.1 180.6 195.4 156.5 158.9 180.6 281.1 244.4 202.2 33

 34 LM263069103 Rest of the world 130.2 85.3 99.9 106.3 88.2 85.3 101.8 105.8 103.2 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL313161105 Total liabilities 19018.7 23600.9 19518.4 22370.7 22900.4 23600.9 23943.0 24301.5 24249.9 1

 2 FL313161205 Marketable Treasury securities 16628.9 20946.2 17115.8 19867.0 20340.2 20946.2 21347.4 21699.0 21846.1 2

 3 FL313161110 Treasury bills 2416.4 4963.1 2657.1 5078.8 5028.1 4963.1 4667.8 4273.7 3713.0 3

 4 FL313161275 Other Treasury notes, bonds, and TIPS 14203.7 15975.8 14449.9 14780.9 15304.8 15975.8 16672.3 17419.3 18127.1 4

 5 FL313161283 Held in the Civil Service Retirement Fund (2) 8.8 7.3 8.8 7.3 7.3 7.3 7.3 6.1 6.1 5

 6 FL313161305 Nonmarketable Treasury securities 2389.8 2654.7 2402.6 2503.6 2560.2 2654.7 2595.6 2602.5 2403.8 6

 7 FL313161400 U.S. savings securities 151.3 147.0 150.0 149.7 148.6 147.0 145.7 144.6 143.6 7

 8 FL213061120 State and local government series (SLGS) 77.8 115.8 84.4 89.2 106.6 115.8 121.7 122.8 127.0 8

 9 FL343061123 Thrift Savings Plan G Fund 250.8 292.7 267.4 278.2 287.1 292.7 292.3 295.0 116.1 9

 10 FL343061145 Federal govt. defined benefit pension plans 1877.2 1980.8 1867.0 1857.8 1894.2 1980.8 1974.6 1987.6 1976.3 10

 11 FL503061303 Held by Federal Reserve credit facility LLCs 0.0 95.7 0.0 95.6 95.7 95.7 42.6 34.1 22.3 11

 12 FL313161375 Other nonmarketable securities 32.7 22.7 33.8 33.1 28.1 22.7 18.8 18.5 18.5 12

 13 FL893061105 Total assets 19337.2 24648.4 20616.2 23440.5 23916.7 24648.4 24324.1 24860.6 24723.4 13

 14 LM153061105 Household sector 1776.9 1756.1 1427.9 1328.6 1402.7 1756.1 1527.6 1256.8 1401.0 14

 15 FL313161400 U.S. savings securities (line 7) 151.3 147.0 150.0 149.7 148.6 147.0 145.7 144.6 143.6 15

 16 LM153061185 Other Treasury securities 1625.5 1609.1 1277.8 1178.9 1254.2 1609.1 1381.9 1112.2 1257.4 16

 17 LM103061103 Nonfinancial corporate business 63.6 75.2 92.2 112.9 96.2 75.2 64.1 59.5 66.9 17

 18 LM113061003 Nonfinancial noncorporate business 74.1 80.2 76.5 79.4 80.4 80.2 77.4 77.7 76.8 18

 19 LM213061105 State and local governments 793.1 1111.9 862.1 1032.8 1057.7 1111.9 1112.1 1326.2 1397.1 19

 20 FL213061120 SLGS (line 8) 77.8 115.8 84.4 89.2 106.6 115.8 121.7 122.8 127.0 20

 21 LM213061103 Other Treasury securities 715.4 996.1 777.7 943.6 951.1 996.1 990.4 1203.5 1270.1 21

 22 LM713061103 Monetary authority 2540.7 5254.6 3757.4 4807.9 5056.0 5254.6 5273.2 5596.5 5811.5 22

 23 LM713061113 Treasury bills 168.5 326.0 325.9 325.9 326.0 326.0 326.0 326.0 326.1 23

 24 LM713061125 Other Treasury securities 2372.3 4928.6 3431.5 4481.9 4730.0 4928.6 4947.2 5270.5 5485.4 24

 25 LM763061100 U.S.-chartered depository institutions 704.1 1044.1 724.4 926.7 1019.5 1044.1 1111.0 1195.5 1297.5 25

 26 LM753061103 Foreign banking offices in U.S. 121.1 99.8 116.4 117.1 109.0 99.8 86.2 83.8 85.5 26

 27 LM743061103 Banks in U.S.-affiliated areas 16.6 13.8 14.7 17.6 15.1 13.8 15.3 15.5 18.4 27

 28 LM473061105 Credit unions 37.5 45.5 38.7 42.2 43.4 45.5 50.8 51.3 54.4 28

 29 LM513061105 Property-casualty insurance companies 153.4 157.5 163.1 167.4 170.7 157.5 162.7 182.9 180.4 29

 30 LM513061115 Treasury bills 37.4 51.9 46.9 62.9 69.6 51.9 53.7 59.7 52.9 30

 31 LM513061125 Other Treasury securities 116.0 105.6 116.2 104.4 101.1 105.6 109.0 123.1 127.4 31

 32 LM543061105 Life insurance companies 215.3 240.7 233.2 235.2 242.6 240.7 225.4 233.4 237.3 32

 33 LM543061115 Treasury bills 9.3 15.6 15.1 14.4 19.1 15.6 13.5 13.8 14.8 33

 34 LM543061125 Other Treasury securities 206.0 225.1 218.0 220.9 223.5 225.1 211.9 219.6 222.5 34

 35 LM573061105 Private pension funds 440.0 555.2 505.5 524.5 543.1 555.2 533.1 558.8 570.5 35

 36 LM573061143 Defined benefit plans 269.8 301.9 295.8 298.7 301.5 301.9 288.3 297.6 300.5 36

 37 LM573061133 Defined contribution plans 170.2 253.4 209.7 225.8 241.6 253.4 244.9 261.1 269.9 37

 38 LM343061105 Federal government retirement funds (3) 2151.3 2297.4 2157.8 2158.7 2204.5 2297.4 2289.7 2304.3 2113.9 38

 39 LM343061165 Defined benefit plans 1887.7 1989.3 1877.1 1866.5 1902.7 1989.3 1983.1 1994.9 1983.7 39

 40 LM343061155 Defined contribution plans 263.6 308.2 280.7 292.2 301.9 308.2 306.6 309.3 130.2 40

 41 LM223061143 State and local govt. retirement funds 344.2 354.2 336.8 306.3 327.0 354.2 346.4 430.2 424.0 41

 42 FL633061105 Money market funds 1036.5 2256.4 1267.8 2349.8 2275.2 2256.4 2362.5 2107.1 1591.3 42

 43 FL633061110 Treasury bills 622.0 1821.1 817.3 1873.2 1845.2 1821.1 1845.8 1588.5 1025.7 43

 44 FL633061120 Other Treasury securities 414.5 435.3 450.5 476.5 429.9 435.3 516.7 518.6 565.6 44

 45 LM653061105 Mutual funds 1310.9 1293.6 1114.1 1206.8 1253.7 1293.6 1299.7 1405.5 1394.5 45

 46 LM653061113 Treasury bills 45.3 45.7 39.8 44.6 44.3 45.7 43.0 40.2 36.0 46

 47 LM653061125 Other Treasury securities 1265.6 1247.9 1074.4 1162.2 1209.4 1247.9 1256.7 1365.3 1358.5 47

 48 LM553061103 Closed-end funds 3.2 3.0 2.7 2.8 2.9 3.0 3.0 3.1 3.1 48

 49 LM563061103 Exchange-traded funds 231.8 276.4 262.9 271.3 276.3 276.4 279.8 298.5 312.0 49

 50 LM403061105 Government-sponsored enterprises 175.8 259.2 194.5 257.0 279.1 259.2 224.9 210.9 205.1 50

 51 FL673061103 ABS issuers 33.0 30.3 32.0 30.6 29.5 30.3 28.6 27.4 28.7 51

 52 LM663061105 Brokers and dealers 214.1 215.2 232.7 268.4 213.4 215.2 95.5 113.0 93.5 52

 53 LM733061103 Holding companies 55.8 61.6 53.4 54.4 53.9 61.6 84.2 86.5 83.8 53

 54 FL503061303 Other financial business 0.0 95.7 0.0 95.6 95.7 95.7 42.6 34.1 22.3 54

 55 LM263061105 Rest of the world 6844.2 7070.8 6949.5 7046.6 7069.2 7070.8 7028.4 7202.2 7254.0 55

 56 LM263061110 Treasury bills 716.1 1027.3 729.5 1040.6 1017.3 1027.3 966.5 925.3 927.4 56

 57 LM263061120 Other Treasury securities 6128.1 6043.4 6220.0 6005.9 6051.9 6043.4 6061.9 6276.9 6326.6 57

 58 LM903061103 Discrepancy (4) -318.5 -1047.5 -1097.8 -1069.8 -1016.3 -1047.5 -381.2 -559.1 -473.5 58

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds. In the Financial

 Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as opposed to intragovernmental

 holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.

(3) Comprised primarily of nonmarketable Treasury securities.

(4) The accumulated valuation difference between issuance and holdings.
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L.211 Agency- and GSE-Backed Securities (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893161705 Total liabilities 9429.5 10086.7 9769.1 9743.7 9866.2 10086.7 10226.4 10407.5 10535.9 1

 2 FL313161705 Budget agencies 21.2 20.2 21.2 21.0 20.2 20.2 19.8 19.8 19.5 2

 3 FL403161705 Government-sponsored enterprises 7002.2 7638.1 7318.1 7305.1 7417.7 7638.1 7775.1 7928.1 8041.7 3

 4 FL413065005 Agency- and GSE-backed mortgage pools 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 2474.7 4

 5 FL893061705 Total assets 9686.6 10415.8 10237.4 10178.3 10231.8 10415.8 10373.2 10600.8 10709.1 5

 6 LM153061705 Household sector 685.2 331.9 699.9 452.1 383.2 331.9 202.6 284.9 201.2 6

 7 LM103061703 Nonfinancial corporate business 21.2 25.1 30.7 37.6 32.1 25.1 21.4 19.8 22.3 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 539.3 466.5 560.8 503.0 483.3 466.5 439.8 442.7 431.2 9

 10 LM713061705 Monetary authority 1471.1 2167.7 1555.5 2039.9 2107.8 2167.7 2275.1 2414.3 2588.1 10

 11 LM763061705 U.S.-chartered depository institutions 2408.2 3061.0 2582.8 2650.3 2804.6 3061.0 3233.7 3357.3 3453.8 11

 12 LM753061703 Foreign banking offices in U.S. 53.2 60.7 59.4 59.7 56.1 60.7 62.2 58.6 59.1 12

 13 LM743061703 Banks in U.S.-affiliated areas 8.0 15.0 7.2 9.1 12.2 15.0 16.6 17.1 17.2 13

 14 LM473061705 Credit unions 165.0 239.0 174.4 201.8 222.7 239.0 293.9 294.1 305.8 14

 15 LM513061705 Property-casualty insurance companies 149.7 145.3 151.0 143.9 148.7 145.3 139.5 136.6 136.3 15

 16 LM543061705 Life insurance companies 388.4 366.4 397.5 381.9 377.4 366.4 348.9 348.2 347.7 16

 17 LM573061705 Private pension funds 224.1 252.3 245.9 238.0 244.8 252.3 250.2 260.3 266.7 17

 18 LM343061705 Federal government retirement funds 10.5 11.7 10.1 10.7 11.0 11.7 11.3 11.3 11.2 18

 19 LM223061743 State and local govt. retirement funds 167.6 193.2 178.9 186.1 197.4 193.2 192.0 202.7 202.0 19

 20 FL633061700 Money market funds 755.1 630.3 931.1 826.2 699.8 630.3 572.7 499.4 448.2 20

 21 LM653061703 Mutual funds 654.0 696.6 682.8 553.4 663.0 696.6 699.8 661.4 660.1 21

 22 LM403061705 Government-sponsored enterprises 265.1 237.3 263.8 265.4 254.5 237.3 224.4 218.9 215.3 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 334.5 208.6 210.5 209.9 206.6 208.6 197.5 187.6 166.6 24

 25 LM663061705 Brokers and dealers 139.5 77.8 170.1 134.2 107.6 77.8 4.9 12.4 17.6 25

 26 LM733061703 Holding companies 43.1 33.8 41.2 38.7 36.5 33.8 30.7 29.1 27.2 26

 27 LM263061705 Rest of the world 1203.8 1195.7 1283.6 1236.4 1182.5 1195.7 1156.1 1144.0 1131.4 27

 28 LM903061703 Discrepancy (2) -257.1 -329.1 -468.3 -434.6 -365.7 -329.1 -146.8 -193.3 -173.2 28

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by Ginnie Mae, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are

 considered officially to be part of the total debt of the federal government, which is shown on table L.106, line 20.

(2) The accumulated valuation difference between issuance and holdings.
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L.212 Municipal Securities

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL383162005 Total liabilities 3894.3 3978.7 3900.8 3921.5 3956.4 3978.7 4005.1 4027.9 4035.6 1

 2 FL213162005 State and local governments 3094.9 3185.6 3101.7 3123.5 3158.9 3185.6 3210.9 3228.9 3235.7 2

 3 FL213162400 Short-term (1) 44.8 46.5 43.0 41.2 44.8 46.5 43.1 36.8 30.8 3

 4 FL213162200 Long-term 3050.1 3139.1 3058.7 3082.3 3114.1 3139.1 3167.8 3192.1 3204.9 4

 5 FL163162003 Nonprofit organizations (2) 212.8 202.5 209.8 207.6 206.2 202.5 203.2 202.9 201.8 5

 6 FL103162000 Nonfinancial corporate business 586.6 590.6 589.2 590.4 591.3 590.6 591.0 596.0 598.1 6

 (industrial revenue bonds)

 7 FL893062005 Total assets 4187.7 4344.4 4118.8 4218.1 4275.4 4344.4 4324.9 4386.5 4344.2 7

 8 LM153062005 Household sector 1931.4 1951.7 1909.2 1932.9 1940.3 1951.7 1911.1 1902.8 1842.5 8

 9 LM103062003 Nonfinancial corporate business 24.2 25.1 23.8 24.4 24.7 25.1 25.0 25.4 25.1 9

 10 LM113062003 Nonfinancial noncorporate business 5.9 6.4 6.1 6.4 6.4 6.4 6.6 6.6 6.7 10

 11 LM213062003 State and local governments 16.7 18.6 16.5 17.8 18.2 18.6 19.5 20.2 21.1 11

 12 LM763062000 U.S.-chartered depository institutions 471.7 512.6 484.0 501.5 504.9 512.6 516.8 529.6 536.4 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 0.1 1.2 1.2 1.0 0.1 0.1 0.1 0.1 14

 15 LM473062005 Credit unions 5.5 10.1 6.3 7.4 8.6 10.1 10.9 11.5 11.7 15

 16 LM513062005 Property-casualty insurance companies 285.2 297.9 281.5 287.5 291.1 297.9 294.3 296.9 293.0 16

 17 LM543062005 Life insurance companies 215.0 234.2 214.8 222.1 227.4 234.2 231.6 234.1 232.2 17

 18 LM343062033 Federal government retirement funds 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 LM223062043 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL633062000 Money market funds 134.0 112.6 130.7 136.5 121.4 112.6 103.8 99.2 93.2 20

 21 LM653062003 Mutual funds 831.0 891.3 786.2 814.7 857.5 891.3 913.3 956.1 971.6 21

 22 LM553062003 Closed-end funds 93.2 94.9 89.4 91.5 92.9 94.9 95.0 96.7 98.3 22

 23 LM563062003 Exchange-traded funds 49.3 64.5 49.3 54.3 58.3 64.5 69.2 76.0 80.4 23

 24 LM403062005 Government-sponsored enterprises 3.3 2.8 3.2 3.0 3.0 2.8 2.7 2.6 2.5 24

 25 LM663062003 Brokers and dealers 16.4 6.8 13.7 8.7 10.4 6.8 8.8 10.7 12.1 25

 26 FL503062003 Other financial business 0.0 6.3 0.0 1.2 1.7 6.3 6.1 4.8 4.4 26

 27 FL263062003 Rest of the world 103.7 108.5 102.9 107.0 107.5 108.5 110.2 113.2 112.9 27

 28 LM903062003 Discrepancy (3) -293.4 -365.7 -218.0 -296.6 -319.0 -365.7 -319.9 -358.6 -308.6 28

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

(3) The accumulated valuation difference between issuance and holdings.
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L.213 Corporate and Foreign Bonds

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893163005 Total liabilities 13319.8 14440.5 13448.0 14146.5 14223.5 14440.5 14503.0 14699.8 14923.2 1

 2 FL103163003 Nonfinancial corporate business 5801.8 6477.3 5984.6 6421.6 6482.1 6477.3 6584.3 6602.9 6679.9 2

 3 FL793163005 Domestic financial sectors 4170.4 4416.9 4422.4 4437.5 4373.1 4416.9 4391.1 4533.9 4540.4 3

 4 FL763163005 U.S.-chartered depository institutions 141.3 171.8 152.9 157.8 161.9 171.8 177.4 177.4 173.6 4

 5 FL673163005 ABS issuers (net) (1) 1104.2 1135.0 1152.4 1134.6 1132.7 1135.0 1144.1 1170.4 1210.3 5

 6 FL613163005 Finance companies 771.8 773.4 797.6 798.2 774.0 773.4 753.5 758.1 723.7 6

 7 FL643163005 REITs 539.3 580.8 529.9 565.4 573.8 580.8 587.3 612.2 613.8 7

 8 FL663163003 Brokers and dealers 173.9 183.9 256.9 179.7 165.4 183.9 196.3 204.5 214.6 8

 9 FL733163003 Holding companies 1439.8 1572.2 1532.7 1601.9 1565.3 1572.2 1532.5 1611.2 1604.4 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) 3347.6 3546.3 3041.0 3287.4 3368.3 3546.3 3527.6 3563.1 3703.0 11

 12 FL893063005 Total assets (3) 13563.3 15327.1 13159.9 14679.5 14803.1 15327.1 14799.9 15245.3 15353.2 12

 13 LM153063005 Household sector 376.6 524.7 586.8 660.6 450.8 524.7 299.8 174.7 354.1 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 211.9 226.9 208.9 233.6 222.0 226.9 205.0 203.7 204.6 15

 16 LM763063005 U.S.-chartered depository institutions 499.5 504.4 453.1 498.1 533.9 504.4 623.7 658.1 684.7 16

 17 LM763063605 MBS and other ABS 84.7 88.7 87.5 91.8 90.1 88.7 92.6 97.8 107.2 17

 18 LM763063095 Other 414.7 415.6 365.6 406.3 443.8 415.6 531.1 560.3 577.4 18

 19 LM753063005 Foreign banking offices in U.S. 134.7 153.0 164.4 157.7 154.3 153.0 146.3 147.0 144.8 19

 20 LM743063005 Banks in U.S.-affiliated areas 7.8 12.5 10.9 10.9 10.9 12.5 11.8 9.7 11.7 20

 21 LM473063005 Credit unions 12.6 16.2 14.6 15.5 16.0 16.2 18.5 17.8 18.5 21

 22 LM473063605 MBS and other ABS 12.1 15.7 14.1 14.9 15.4 15.7 17.9 17.1 17.7 22

 23 LM473063095 Other 0.5 0.6 0.5 0.5 0.6 0.6 0.7 0.7 0.7 23

 24 LM513063005 Property-casualty insurance companies 594.8 660.7 577.4 636.3 646.8 660.7 637.9 669.9 674.6 24

 25 LM513063605 MBS and other ABS 138.8 154.2 134.8 148.5 151.0 154.2 148.6 155.8 156.7 25

 26 LM513063095 Other 456.0 506.5 442.6 487.8 495.8 506.5 489.3 514.1 517.9 26

 27 LM543063005 Life insurance companies 3175.5 3556.2 3080.7 3383.2 3457.2 3556.2 3385.0 3485.8 3518.0 27

 28 LM543063675 MBS and other ABS 561.3 625.3 541.9 595.6 606.5 625.3 596.6 614.7 618.1 28

 29 LM543063095 Other 2614.2 2930.9 2538.9 2787.6 2850.8 2930.9 2788.4 2871.1 2900.0 29

 30 LM573063005 Private pension funds 866.5 881.8 814.2 880.6 869.2 881.8 825.2 841.9 833.4 30

 31 LM343063005 Federal government retirement funds 15.6 17.3 13.7 15.6 16.5 17.3 16.5 16.7 16.5 31

 32 LM223063045 State and local govt. retirement funds 448.4 511.7 447.6 501.8 492.6 511.7 515.3 519.6 512.9 32

 33 FL633063005 Money market funds 18.5 12.6 13.8 12.7 16.3 12.6 12.5 12.0 9.1 33

 34 LM653063005 Mutual funds 2317.5 2692.1 2171.0 2479.6 2589.9 2692.1 2709.0 2791.1 2764.2 34

 35 LM553063003 Closed-end funds 75.1 77.8 59.5 67.6 70.3 77.8 80.3 83.2 83.8 35

 36 LM563063003 Exchange-traded funds 544.0 724.6 518.3 618.5 672.5 724.6 730.9 782.0 808.6 36

 37 LM403063005 Government-sponsored enterprises 16.5 13.5 14.5 14.9 14.3 13.5 13.0 12.7 12.5 37

 38 LM403063605 MBS and other ABS 12.9 10.2 11.1 11.6 11.0 10.2 9.8 9.5 9.4 38

 39 LM403063095 Other 3.6 3.3 3.4 3.4 3.3 3.3 3.3 3.2 3.1 39

 40 LM613063003 Finance companies 60.0 73.6 58.8 68.2 69.9 73.6 69.7 77.6 83.8 40

 41 LM643063005 REITs 52.2 28.3 35.8 31.8 28.2 28.3 26.2 28.8 30.8 41

 42 LM663063005 Brokers and dealers 72.0 82.7 70.5 76.4 91.3 82.7 70.6 70.5 69.5 42

 43 LM733063003 Holding companies 27.9 27.0 26.9 32.0 25.7 27.0 30.5 28.5 28.1 43

 44 FL503063005 Other financial business 70.9 83.3 76.8 78.9 78.4 83.3 83.9 96.8 96.2 44

 45 LM263063005 Rest of the world (4) 3964.3 4445.8 3741.4 4204.5 4275.6 4445.8 4287.9 4516.7 4392.2 45

 46 LM263063603 MBS and other ABS 338.8 374.3 322.2 329.8 345.2 374.3 392.6 390.3 386.5 46

 47 LM263063095 Other 3625.5 4071.5 3419.2 3874.7 3930.4 4071.5 3895.3 4126.4 4005.7 47

 48 LM903063003 Discrepancy (5) -243.5 -886.6 288.1 -533.0 -579.6 -886.6 -296.9 -545.5 -429.9 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FL894123005 Total loans 28239.6 29726.8 29391.5 29302.1 29389.4 29726.8 30073.8 30501.6 31107.5 1

 2 FL793068005 Depository institution loans n.e.c. 3803.1 4216.0 4450.7 4479.5 4272.2 4216.0 4240.2 4191.6 4140.1 2

 3 FL893169005 Other loans and advances 4202.0 4545.2 4617.1 4400.5 4422.4 4545.2 4704.0 4779.5 5025.4 3

 4 FL893065005 Mortgages 16042.3 16780.7 16175.9 16324.8 16552.2 16780.7 16962.3 17270.9 17598.8 4

 5 FL893065105 One-to-four-family residential 11187.0 11652.7 11252.1 11337.2 11504.4 11652.7 11785.2 12025.2 12271.1 5

 6 FL893065405 Multifamily residential 1622.6 1755.1 1644.3 1678.0 1709.2 1755.1 1784.6 1810.6 1838.2 6

 7 FL893065505 Commercial 2964.8 3081.2 3005.7 3029.8 3052.9 3081.2 3099.7 3141.3 3194.5 7

 8 FL893065603 Farm 267.9 291.7 273.8 279.7 285.7 291.7 292.8 293.9 295.0 8

 9 FL153166000 Consumer credit 4192.2 4184.9 4147.8 4097.3 4142.7 4184.9 4167.2 4259.6 4343.3 9

 By sector

 10 FL894123005 Total liabilities 28239.6 29726.8 29391.5 29302.1 29389.4 29726.8 30073.8 30501.6 31107.5 10

 11 FL384123005 Domestic nonfinancial sectors 25594.7 27048.4 26245.0 26530.8 26736.1 27048.4 27379.0 27739.3 28296.6 11

 12 FL154123005 Household sector 15886.4 16508.0 15950.3 15958.4 16222.8 16508.0 16702.4 17043.1 17347.6 12

 13 FL104123005 Nonfinancial corporate business 3550.7 3862.7 3979.2 4018.3 3865.7 3862.7 3939.3 3922.2 3987.2 13

 14 FL114123005 Nonfinancial noncorporate business 6136.5 6655.6 6294.2 6532.7 6625.9 6655.6 6715.0 6751.8 6759.0 14

 15 FL314123005 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 180.6 15

 16 FL213169203 State and local governments 21.1 22.1 21.2 21.4 21.8 22.1 22.3 22.3 22.3 16

 17 FL794123005 Domestic financial sectors 1954.6 1924.7 2367.7 2030.1 1917.2 1924.7 1922.8 1963.3 1972.4 17

 18 FL763169305 U.S.-chartered depository institutions 484.9 252.3 615.1 380.3 306.8 252.3 228.6 205.9 189.6 18

 19 FL473169333 Credit unions 52.3 43.3 62.9 50.5 47.7 43.3 40.3 39.2 39.4 19

 20 FL513169333 Property-casualty insurance companies 3.5 10.0 6.0 6.3 11.2 10.0 9.3 8.4 7.5 20

 21 FL543169373 Life insurance companies 88.7 103.9 107.7 108.2 103.6 103.9 112.3 108.8 107.3 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 153.6 178.4 160.6 167.1 175.2 178.4 175.4 216.2 209.1 23

 24 FL644123005 REITs 263.2 256.8 299.2 266.5 254.7 256.8 251.5 248.5 234.7 24

 25 FL664123005 Brokers and dealers 906.0 1037.0 1114.0 1033.7 995.6 1037.0 1064.1 1097.2 1160.6 25

 26 FL504123005 Other financial business 2.4 43.0 2.4 17.5 22.3 43.0 41.3 39.2 24.1 26

 27 FL264123005 Rest of the world 690.3 753.6 778.8 741.2 736.1 753.6 771.9 799.0 838.6 27

 28 FL894123005 Total assets 28239.6 29726.8 29391.5 29302.1 29389.4 29726.8 30073.8 30501.6 31107.5 28

 29 FL384023005 Domestic nonfinancial sectors 3202.4 3583.9 3386.6 3486.7 3542.7 3583.9 3635.5 3665.6 3750.9 29

 30 FL154023005 Household sector 1147.9 1264.4 1305.1 1278.2 1240.8 1264.4 1275.4 1289.9 1338.6 30

 31 FL104023005 Nonfinancial corporate business 72.2 74.6 71.7 72.4 73.2 74.6 74.1 74.8 75.7 31

 32 FL114023005 Nonfinancial noncorporate business 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 59.0 32

 33 FL314023005 Federal government 1674.0 1927.2 1703.4 1824.4 1913.1 1927.2 1964.8 1978.5 2012.5 33

 34 FL213065005 State and local governments 256.5 261.7 253.1 256.3 259.5 261.7 263.6 264.6 265.2 34

 35 FL794023005 Domestic financial sectors 24206.4 25238.9 25127.1 24933.3 24956.5 25238.9 25503.6 25883.8 26373.1 35

 36 FL713068005 Monetary authority 0.0 52.2 58.7 30.9 31.7 52.2 58.7 86.2 65.1 36

 37 FL764023005 U.S.-chartered depository institutions 9784.9 10074.8 10188.9 10257.4 10132.7 10074.8 10017.3 10041.1 10099.8 37

 38 FL754023005 Foreign banking offices in U.S. 767.8 785.6 926.3 859.7 797.6 785.6 768.7 767.2 796.6 38

 39 FL744023003 Banks in U.S.-affiliated areas 40.7 41.6 42.6 44.7 43.3 41.6 39.2 38.3 36.9 39

 40 FL474023000 Credit unions 1133.6 1193.9 1143.6 1168.1 1186.6 1193.9 1198.0 1223.8 1250.6 40

 41 FL513065505 Property-casualty insurance companies 22.9 24.3 23.6 23.7 23.5 24.3 24.3 25.5 26.5 41

 42 FL544023005 Life insurance companies 780.6 807.8 792.8 794.7 796.4 807.8 809.8 820.2 836.0 42

 43 FL573065005 Private pension funds 23.2 17.8 21.5 20.3 19.0 17.8 17.4 16.4 15.6 43

 44 FL313169003 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 180.6 44

 45 FL223065043 State and local govt. retirement funds 8.4 7.8 8.9 8.1 8.4 7.8 7.6 8.3 8.3 45

 46 FL653069803 Mutual funds 114.2 85.2 84.2 84.1 83.4 85.2 100.5 116.9 127.3 46

 47 FL404023005 Government-sponsored enterprises 6289.3 6706.0 6508.2 6397.4 6506.5 6706.0 6899.9 7075.7 7233.1 47

 48 FL413065005 Agency- and GSE-backed mortgage pools 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 2474.7 48

 49 FL674023005 ABS issuers 1020.3 1047.0 1066.0 1052.7 1049.3 1047.0 1043.6 1052.8 1087.6 49

 50 FL614023005 Finance companies 1041.6 1031.7 1043.8 1021.2 1029.0 1031.7 1042.7 1061.1 1051.5 50

 51 FL643065005 REITs 273.9 259.2 250.8 247.9 260.1 259.2 265.7 281.7 302.3 51

 52 FL663069005 Brokers and dealers 373.1 538.3 394.6 373.5 440.3 538.3 628.7 651.8 628.8 52

 53 FL733069005 Holding companies 117.7 106.6 128.7 119.0 104.6 106.6 121.2 129.6 125.1 53

 54 FL503069005 Other financial business 8.4 31.0 14.2 12.2 15.7 31.0 28.8 27.6 27.2 54

 55 FL263069500 Rest of the world 830.8 904.0 877.8 882.0 890.1 904.0 934.7 952.3 983.6 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL793068005 Total liabilities 3803.1 4216.0 4450.7 4479.5 4272.2 4216.0 4240.2 4191.6 4140.1 1

 2 FL153168005 Household sector 350.2 370.5 383.9 375.8 364.6 370.5 370.2 371.5 384.9 2

 3 FL103168005 Nonfinancial corporate business 1034.0 1111.6 1368.0 1361.6 1164.0 1111.6 1119.3 1030.7 989.0 3

 4 FL113168005 Nonfinancial noncorporate business 1481.2 1654.5 1569.2 1709.4 1716.8 1654.5 1650.6 1607.6 1549.1 4

 5 FL793168005 Domestic financial sectors 305.1 380.7 413.8 347.1 341.7 380.7 384.0 438.1 424.8 5

 6 FL613168005 Finance companies 152.7 177.9 159.6 166.5 174.5 177.9 175.3 216.1 209.0 6

 7 FL643168005 REITs 30.4 29.9 69.5 41.0 28.6 29.9 30.4 29.0 24.2 7

 8 FL663168005 Brokers and dealers 122.0 132.2 184.6 124.5 118.7 132.2 139.4 156.2 169.9 8

 9 FL713068505 Other financial business (2) 0.0 40.7 0.0 15.1 20.0 40.7 38.9 36.9 21.8 9

 10 FL263168005 Rest of the world 632.6 698.6 715.9 685.7 685.0 698.6 716.2 743.7 792.3 10

 11 FL263168465 Foreign official institutions 3.4 2.5 3.1 2.7 2.3 2.5 3.4 3.0 3.0 11

 12 FL263168485 Foreign nonfinancial corporations 195.3 186.5 229.3 223.0 202.8 186.5 189.0 186.8 192.7 12

 13 FL263168495 Foreign nondepository financial institutions 433.9 509.6 483.6 460.1 479.8 509.6 523.9 553.9 596.6 13

 14 FL793068005 Total assets 3803.1 4216.0 4450.7 4479.5 4272.2 4216.0 4240.2 4191.6 4140.1 14

 15 FL713068005 Monetary authority (3) 0.0 52.2 58.7 30.9 31.7 52.2 58.7 86.2 65.1 15

 16 FL763068005 U.S.-chartered depository institutions 3026.6 3361.8 3458.5 3572.8 3426.6 3361.8 3394.1 3320.3 3264.1 16

 17 FL753068005 Foreign banking offices in U.S. 687.4 704.6 843.7 777.7 716.1 704.6 688.4 685.8 712.8 17

 18 FL743068005 Banks in U.S.-affiliated areas 18.1 18.7 20.1 21.7 20.2 18.7 17.4 17.0 15.7 18

 19 FL473068005 Credit unions 71.0 78.7 69.7 76.4 77.6 78.7 81.7 82.3 82.5 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893169005 Total other loans and advances 4202.0 4545.2 4617.1 4400.5 4422.4 4545.2 4704.0 4779.5 5025.4 1

 2 FL313069205 U.S. government loans 230.7 418.9 227.3 341.7 407.8 418.9 426.3 435.0 442.4 2

 3 FL153169203 Liab.: Household sector 38.9 49.1 40.0 44.4 47.4 49.1 50.1 52.5 54.0 3

 4 FL103169205 Nonfinancial corporate business 78.4 188.9 73.4 143.6 183.8 188.9 192.3 197.1 201.0 4

 5 FL113169205 Nonfinancial noncorporate business 60.9 128.6 62.1 101.9 124.5 128.6 131.0 133.8 136.4 5

 6 FL213169203 State and local governments 21.1 22.1 21.2 21.4 21.8 22.1 22.3 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 29.1 27.8 28.2 28.2 27.9 27.8 28.3 27.0 26.5 10

 11 FL313169003 Federal government retirement funds loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 180.6 11

 12 FL313169003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 180.6 12

 13 FL263069500 Foreign loans to U.S. corporate business 830.8 904.0 877.8 882.0 890.1 904.0 934.7 952.3 983.6 13

 14 FL263069500 Liab.: Nonfinancial corporate business 830.8 904.0 877.8 882.0 890.1 904.0 934.7 952.3 983.6 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 117.7 106.6 128.7 119.0 104.6 106.6 121.2 129.6 125.1 19

 20 FL733069013 Liab.: Nonfinancial corporate business 89.1 79.4 94.0 91.7 81.4 79.4 93.7 101.3 105.2 20

 21 FL733069023 Rest of the world 28.6 27.2 34.7 27.4 23.2 27.2 27.5 28.3 19.8 21

 22 FL153169405 Policy loans (Household liability) 131.3 130.8 132.4 131.7 132.2 130.8 130.0 129.3 129.3 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 131.1 130.6 132.2 131.5 132.0 130.6 129.9 129.1 129.1 24

 25 FL403069330 Federal Home Loan Banks advances (1) 638.9 410.3 797.2 547.7 470.4 410.3 390.9 362.6 344.3 25

 26 FL763169335 Liab.: U.S.-chartered depository institutions 484.9 252.3 615.1 380.3 306.8 252.3 228.6 205.9 189.6 26

 27 FL473169333 Credit unions 52.3 43.3 62.9 50.5 47.7 43.3 40.3 39.2 39.4 27

 28 FL513169333 Property-casualty insurance companies 3.5 10.0 6.0 6.3 11.2 10.0 9.3 8.4 7.5 28

 29 FL543169373 Life insurance companies 88.7 103.9 107.7 108.2 103.6 103.9 112.3 108.8 107.3 29

 30 FL613169333 Finance companies 1.0 0.5 0.9 0.6 0.7 0.5 0.1 0.1 0.1 30

 31 FL643169373 Real estate investment trusts 8.5 0.3 4.6 1.7 0.3 0.3 0.3 0.3 0.3 31

 32 FL403069395 Government-sponsored enterprise (GSE) loans (2) 139.7 153.2 143.9 144.0 144.8 153.2 156.5 152.8 152.1 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) 13.0 14.8 14.2 13.2 13.1 14.8 16.3 15.1 14.1 34

 35 FL113169305 Nonfinancial noncorporate business (FCS) 126.7 138.4 129.8 130.8 131.7 138.4 140.1 137.7 138.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.1 37

 38 FL673069505 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.1 38

 39 FL613069505 Finance company loans to business 386.7 370.3 400.0 373.1 372.4 370.3 373.6 381.8 367.8 39

 40 FL103169535 Liab.: Nonfinancial corporate business 348.0 326.2 360.0 333.0 329.0 326.2 321.7 307.1 299.0 40

 41 FL113169535 Nonfinancial noncorporate business 38.7 44.0 40.0 40.0 43.4 44.0 51.9 74.7 68.8 41

 42 FL663067003 Margin accounts at brokers and dealers 325.7 482.4 337.7 319.5 385.0 482.4 573.7 595.2 571.4 42

 43 FL663067003 Liab.: Household sector 325.7 482.4 337.7 319.5 385.0 482.4 573.7 595.2 571.4 43

 44 FL153067005 Cash accounts at brokers and dealers 783.9 904.8 929.4 909.2 876.9 904.8 924.7 941.1 990.7 44

 45 FL153067005 Asset: Household sector 783.9 904.8 929.4 909.2 876.9 904.8 924.7 941.1 990.7 45

 46 FL103169803 Loans to nonfinancial corporate business (3) 478.5 506.5 504.8 494.6 495.1 506.5 516.6 545.1 578.2 46

 47 FL153069803 Asset: Household sector 116.6 114.4 129.1 123.5 118.8 114.4 107.1 107.3 108.5 47

 48 FL543069873 Life insurance companies 30.3 32.5 34.0 32.4 31.8 32.5 33.9 35.6 37.2 48

 49 FL653069803 Mutual funds 114.2 85.2 84.2 84.1 83.4 85.2 100.5 116.9 127.3 49

 50 FL673069803 ABS issuers 161.7 207.7 186.5 188.7 195.4 207.7 210.0 219.0 238.1 50

 51 FL663069803 Brokers and dealers 47.3 55.9 56.9 54.0 55.3 55.9 55.0 56.6 57.3 51

 52 FL503069805 Other financial business 8.4 10.9 14.2 11.9 10.3 10.9 10.2 9.7 9.8 52

 53 FL503069075 Other financial business loans (4) 0.0 20.1 0.0 0.3 5.4 20.1 18.6 17.9 17.4 53

 54 FL503069003 Liab.: Household sector (TALF II) 0.0 3.6 0.0 0.3 3.2 3.6 2.1 1.6 1.5 54

 55 FL503069013 Nonfinancial corporate business (MSLF) 0.0 6.0 0.0 0.0 0.8 6.0 5.9 5.9 5.7 55

 56 FL503069023 Nonfinancial noncorporate business (MSLF) 0.0 10.5 0.0 0.0 1.4 10.5 10.5 10.3 10.1 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 138.1 137.5 137.9 137.8 137.6 137.5 137.1 136.8 136.5 58

 59 FL153169055 Liab.: Household sector 107.9 106.5 107.6 107.2 106.9 106.5 106.0 105.5 105.0 59

 60 FL163069043 Nonfinancial noncorporate business 30.2 30.9 30.4 30.5 30.7 30.9 31.1 31.3 31.5 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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126 Z.1, December 9, 2021

L.217 Total Mortgages (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893065005 Total mortgages 16042.3 16780.7 16175.9 16324.8 16552.2 16780.7 16962.3 17270.9 17598.8 1

 2 FL893065105 One-to-four-family residential 11187.0 11652.7 11252.1 11337.2 11504.4 11652.7 11785.2 12025.2 12271.1 2

 3 FL893065405 Multifamily residential 1622.6 1755.1 1644.3 1678.0 1709.2 1755.1 1784.6 1810.6 1838.2 3

 4 FL893065505 Commercial 2964.8 3081.2 3005.7 3029.8 3052.9 3081.2 3099.7 3141.3 3194.5 4

 5 FL893065603 Farm 267.9 291.7 273.8 279.7 285.7 291.7 292.8 293.9 295.0 5

 6 FL893065005 Total liabilities 16042.3 16780.7 16175.9 16324.8 16552.2 16780.7 16962.3 17270.9 17598.8 6

 7 FL153165005 Household sector 10740.1 11180.1 10800.9 10882.4 11040.7 11180.1 11303.0 11527.8 11758.2 7

 8 FL143165005 Nonfinancial business 5077.9 5374.0 5149.9 5218.7 5285.6 5374.0 5438.5 5524.0 5630.3 8

 9 FL103165005 Corporate 679.0 725.4 687.1 698.6 708.3 725.4 738.7 767.6 805.3 9

 10 FL113165005 Noncorporate 4398.9 4648.6 4462.8 4520.1 4577.3 4648.6 4699.8 4756.4 4825.0 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 224.3 226.6 225.1 223.8 225.8 226.6 220.8 219.2 210.2 12

 13 FL893065005 Total assets 16042.3 16780.7 16175.9 16324.8 16552.2 16780.7 16962.3 17270.9 17598.8 13

 14 FL153065005 Household sector 82.1 83.6 82.6 82.6 83.2 83.6 82.6 81.0 79.5 14

 15 FL103065003 Nonfinancial corporate business 36.4 38.8 37.0 37.6 38.2 38.8 39.4 40.0 40.6 15

 16 FL113065005 Nonfinancial noncorporate business 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 59.0 16

 17 FL313065005 Federal government 123.8 127.2 125.3 126.7 125.7 127.2 128.2 129.5 131.5 17

 18 FL313065015 Ginnie Mae 2.5 2.3 2.4 2.4 2.3 2.3 2.2 2.1 2.0 18

 19 FL313065075 Farmers Home Administration (FmHA) (2) 105.8 108.3 107.4 108.7 107.3 108.3 109.0 109.4 110.3 19

 20 FL313065035 Federal Housing Administration (FHA) 15.5 16.6 15.5 15.6 16.0 16.6 17.1 18.0 19.2 20

 21 FL313065065 Federal Deposit Insurance Corporation 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL313065095 Other (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL213065005 State and local governments 256.5 261.7 253.1 256.3 259.5 261.7 263.6 264.6 265.2 23

 24 FL703065005 Private depository institutions 5654.9 5741.4 5704.3 5738.6 5766.7 5741.4 5705.6 5751.6 5841.8 24

 25 FL763065005 U.S.-chartered depository institutions 4987.4 5027.5 5020.5 5040.3 5057.0 5027.5 4990.0 5019.9 5094.0 25

 26 FL753065005 Foreign banking offices in U.S. 80.4 81.0 82.6 82.0 81.5 81.0 80.4 81.4 83.8 26

 27 FL743065003 Banks in U.S.-affiliated areas 22.6 22.9 22.5 23.0 23.1 22.9 21.8 21.3 21.2 27

 28 FL473065100 Credit unions 564.5 610.1 578.7 593.4 605.2 610.1 613.4 629.0 642.8 28

 29 FL513065505 Property-casualty insurance companies 22.9 24.3 23.6 23.7 23.5 24.3 24.3 25.5 26.5 29

 30 FL543065005 Life insurance companies 619.2 644.7 626.6 630.9 632.6 644.7 646.0 655.5 669.6 30

 31 FL573065005 Private pension funds 23.2 17.8 21.5 20.3 19.0 17.8 17.4 16.4 15.6 31

 32 FL223065043 State and local govt. retirement funds 8.4 7.8 8.9 8.1 8.4 7.8 7.6 8.3 8.3 32

 33 FL403065005 Government-sponsored enterprises 5510.7 6142.5 5567.1 5705.8 5891.3 6142.5 6352.5 6560.3 6736.7 33

 34 FL403065015 Fannie Mae 3300.0 3589.9 3330.7 3417.8 3493.7 3589.9 3675.0 3782.6 3833.2 34

 35 FL403065025 Freddie Mac 1993.3 2328.0 2014.8 2063.4 2173.7 2328.0 2453.0 2550.9 2673.4 35

 36 FL403065045 Farm Credit System 139.6 154.6 141.3 145.3 149.1 154.6 157.8 162.5 166.0 36

 37 FL403065035 FHLB 72.4 62.8 74.5 72.9 67.9 62.8 59.4 56.5 56.1 37

 38 FL403065653 Farmer Mac 5.4 7.3 5.8 6.5 6.8 7.3 7.3 7.8 8.1 38

 39 FL413065005 Agency- and GSE-backed mortgage pools 2406.0 2428.3 2429.8 2417.6 2428.4 2428.3 2431.4 2459.6 2474.7 39

 40 FL413065015 Ginnie Mae 2117.6 2103.4 2138.8 2125.6 2117.7 2103.4 2095.0 2112.3 2125.6 40

 41 FL413065025 Freddie Mac 281.0 318.7 284.2 285.6 304.3 318.7 330.3 341.4 343.4 41

 42 FL413065045 Fannie Mae 6.4 5.3 5.8 5.3 5.4 5.3 5.2 5.0 4.8 42

 43 FL413065653 Farmer Mac 1.1 0.9 1.1 1.0 1.0 0.9 0.8 0.9 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 855.5 837.4 876.7 861.5 851.6 837.4 831.8 832.1 841.9 45

 46 FL613065000 Finance companies 117.2 110.0 115.3 111.8 107.9 110.0 108.6 107.0 105.7 46

 47 FL643065005 REITs 273.9 259.2 250.8 247.9 260.1 259.2 265.7 281.7 302.3 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893065105 Total liabilities 11187.0 11652.7 11252.1 11337.2 11504.4 11652.7 11785.2 12025.2 12271.1 1

 2 FL153165105 Household sector 10481.2 10919.7 10541.6 10622.7 10780.7 10919.7 11042.3 11266.8 11497.0 2

 3 FL103165105 Nonfinancial corporate business 17.2 16.7 17.6 17.3 17.0 16.7 16.9 17.7 18.7 3

 4 FL113165105 Nonfinancial noncorporate business 688.6 716.2 693.0 697.2 706.8 716.2 726.0 740.7 755.4 4

 5 FL893065105 Total assets 11187.0 11652.7 11252.1 11337.2 11504.4 11652.7 11785.2 12025.2 12271.1 5

 6 FL153065103 Household sector 71.8 68.3 70.9 70.1 69.2 68.3 67.4 66.6 65.7 6

 7 FL103065105 Nonfinancial corporate business 21.9 23.3 22.2 22.5 22.9 23.3 23.6 24.0 24.4 7

 8 FL113065103 Nonfinancial noncorporate business 18.9 20.4 19.5 20.2 20.5 20.4 21.0 21.0 21.5 8

 9 FL313065105 Federal government 29.2 30.4 29.5 29.5 30.0 30.4 30.6 31.5 32.4 9

 10 FL213065103 State and local governments 132.1 134.1 130.3 131.2 133.0 134.1 134.8 135.3 135.3 10

 11 FL763065105 U.S.-chartered depository institutions 2638.2 2581.5 2637.0 2628.8 2625.2 2581.5 2534.0 2532.9 2573.0 11

 12 FL753065103 Foreign banking offices in U.S. 1.5 1.2 1.4 1.5 1.3 1.2 1.1 1.1 1.3 12

 13 FL743065103 Banks in U.S.-affiliated areas 13.2 13.5 13.0 13.4 13.7 13.5 12.8 12.4 12.0 13

 14 FL473065100 Credit unions 564.5 610.1 578.7 593.4 605.2 610.1 613.4 629.0 642.8 14

 15 FL543065105 Life insurance companies 37.9 38.6 38.2 38.2 37.9 38.6 39.0 39.7 40.8 15

 16 FL573065103 Private pension funds 0.7 0.5 0.6 0.6 0.6 0.5 0.5 0.5 0.4 16

 17 FL223065143 State and local govt. retirement funds 3.0 2.8 3.2 2.9 3.0 2.8 2.7 3.0 3.0 17

 18 FL403065105 Government-sponsored enterprises 5016.1 5575.3 5063.7 5177.6 5354.1 5575.3 5777.4 5986.5 6152.7 18

 19 FL413065105 Agency- and GSE-backed mortgage pools 2024.8 2009.0 2045.7 2030.9 2023.5 2009.0 1996.4 2012.1 2022.4 19

 20 FL673065105 ABS issuers 452.0 414.9 460.7 448.5 436.3 414.9 400.0 394.1 396.5 20

 21 FL613065105 Finance companies 85.4 77.1 83.6 79.1 75.4 77.1 76.1 75.1 74.6 21

 22 FL643065105 REITs 76.0 51.7 53.9 48.8 52.8 51.7 54.5 60.4 72.3 22

 Memo:

 23 FL893065125 Home equity loans included above (2) 501.3 441.8 495.3 475.8 460.3 441.8 421.4 411.2 403.2 23

 24 FL763065125 U.S.-chartered depository institutions 383.6 334.5 378.7 363.1 349.8 334.5 318.2 308.2 299.2 24

 25 FL753065203 Foreign banking offices in U.S. 0.3 0.1 0.3 0.3 0.2 0.1 0.1 0.1 0.0 25

 26 FL473065125 Credit unions 93.0 86.0 92.6 89.9 89.0 86.0 82.7 83.2 85.0 26

 27 FL673065123 ABS issuers 7.4 5.8 7.0 6.6 6.3 5.8 5.3 4.8 4.0 27

 28 FL613065123 Finance companies 17.1 15.4 16.7 15.8 15.1 15.4 15.2 15.0 14.9 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 1622.6 1755.1 1644.3 1678.0 1709.2 1755.1 1784.6 1810.6 1838.2 1

 2 FL103165405 Nonfinancial corporate business 80.0 86.6 81.0 82.7 84.3 86.6 88.0 89.4 90.7 2

 3 FL113165405 Nonfinancial noncorporate business 1519.8 1644.8 1539.8 1571.5 1601.9 1644.8 1672.7 1697.7 1723.8 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 22.8 23.7 23.4 23.7 22.9 23.7 23.9 23.5 23.7 5

 6 FL893065405 Total assets 1622.6 1755.1 1644.3 1678.0 1709.2 1755.1 1784.6 1810.6 1838.2 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 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 8

 9 FL113065403 Nonfinancial noncorporate business 17.7 19.2 18.3 19.0 19.2 19.2 19.7 19.7 20.2 9

 10 FL313065405 Federal government 11.6 11.1 11.4 11.3 11.2 11.1 11.1 11.1 11.0 10

 11 FL213065403 State and local governments 102.6 105.2 101.2 102.8 104.2 105.2 105.9 106.3 106.3 11

 12 FL763065403 U.S.-chartered depository institutions 501.9 526.6 513.0 520.2 525.7 526.6 528.2 538.4 544.6 12

 13 FL753065403 Foreign banking offices in U.S. 11.4 14.0 12.6 13.0 13.5 14.0 14.1 14.5 14.4 13

 14 FL543065405 Life insurance companies 162.1 169.8 164.3 165.7 166.4 169.8 171.1 173.7 177.4 14

 15 FL573065403 Private pension funds 0.8 0.6 0.8 0.7 0.6 0.6 0.5 0.5 0.4 15

 16 FL223065443 State and local govt. retirement funds 2.5 2.3 2.7 2.4 2.5 2.3 2.3 2.5 2.5 16

 17 FL403065405 Government-sponsored enterprises 364.0 419.4 368.6 388.9 393.7 419.4 426.8 424.4 433.8 17

 18 FL413065405 Agency- and GSE-backed mortgage pools 380.2 418.4 383.0 385.7 403.9 418.4 434.1 446.7 451.4 18

 19 FL673065405 ABS issuers 46.3 51.3 53.0 53.2 52.2 51.3 52.7 53.2 55.4 19

 20 FL613065403 Finance companies 5.7 5.5 5.7 5.6 5.5 5.5 5.4 5.4 5.3 20

 21 FL643065405 REITs 15.0 11.0 9.2 9.0 10.0 11.0 12.0 13.7 15.0 21
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L.220 Commercial Mortgages

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893065505 Total liabilities 2964.8 3081.2 3005.7 3029.8 3052.9 3081.2 3099.7 3141.3 3194.5 1

 2 FL163165505 Nonprofit organizations (1) 259.0 260.4 259.3 259.7 260.0 260.4 260.7 260.9 261.2 2

 3 FL103165505 Nonfinancial corporate business 512.0 545.5 517.1 525.6 532.4 545.5 556.7 583.2 618.1 3

 4 FL113165505 Nonfinancial noncorporate business 1992.3 2072.4 2027.5 2044.5 2057.5 2072.4 2085.3 2101.5 2128.6 4

 5 FL123165503 REITs 201.6 202.9 201.7 200.0 202.9 202.9 197.0 195.7 186.5 5

 6 FL893065505 Total assets 2964.8 3081.2 3005.7 3029.8 3052.9 3081.2 3099.7 3141.3 3194.5 6

 7 FL153065505 Household sector 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.3 1.3 7

 8 FL103065503 Nonfinancial corporate business 14.0 14.9 14.2 14.5 14.7 14.9 15.2 15.4 15.6 8

 9 FL113065503 Nonfinancial noncorporate business 14.1 15.3 14.6 15.2 15.3 15.3 15.7 15.8 16.1 9

 10 FL313065505 Federal government 74.1 75.4 75.3 76.3 74.6 75.4 76.0 76.0 76.8 10

 11 FL213065503 State and local governments 20.5 20.9 20.2 20.9 20.9 20.9 21.5 21.6 22.1 11

 12 FL763065503 U.S.-chartered depository institutions 1749.3 1822.5 1772.9 1794.0 1809.0 1822.5 1830.6 1851.1 1878.5 12

 13 FL753065503 Foreign banking offices in U.S. 67.3 65.5 68.4 67.4 66.6 65.5 65.1 65.8 67.9 13

 14 FL743065505 Banks in U.S.-affiliated areas 9.4 9.4 9.5 9.6 9.4 9.4 9.0 8.9 9.2 14

 15 FL513065505 Property-casualty insurance companies 22.9 24.3 23.6 23.7 23.5 24.3 24.3 25.5 26.5 15

 16 FL543065505 Life insurance companies 401.4 417.1 405.9 408.5 409.4 417.1 416.6 422.8 432.0 16

 17 FL573065505 Private pension funds 21.7 16.7 20.1 19.0 17.8 16.7 16.4 15.5 14.8 17

 18 FL223065545 State and local govt. retirement funds 2.9 2.6 3.0 2.8 2.9 2.6 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 357.2 371.2 363.0 359.8 363.1 371.2 379.1 384.8 390.1 20

 21 FL613065503 Finance companies 26.1 27.4 26.0 27.1 27.0 27.4 27.1 26.5 25.8 21

 22 FL643065505 REITs 182.8 196.5 187.8 190.2 197.3 196.5 199.2 207.6 215.0 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 267.9 291.7 273.8 279.7 285.7 291.7 292.8 293.9 295.0 1

 2 FL183165605 Nonfinancial corporate business 69.8 76.5 71.3 72.9 74.7 76.5 77.1 77.4 77.8 2

 3 FL233165605 Nonfinancial noncorporate business 198.1 215.2 202.5 206.8 211.1 215.2 215.7 216.5 217.2 3

 4 FL893065603 Total assets 267.9 291.7 273.8 279.7 285.7 291.7 292.8 293.9 295.0 4

 5 FL153065605 Household sector 9.1 14.1 10.4 11.3 12.8 14.1 13.9 13.2 12.6 5

 6 FL113065603 Nonfinancial noncorporate business 1.0 1.1 1.1 1.1 1.1 1.1 1.2 1.2 1.2 6

 7 FL313065605 Federal government 8.9 10.3 9.2 9.6 9.9 10.3 10.5 10.9 11.2 7

 8 FL213065603 State and local governments 1.3 1.4 1.3 1.4 1.4 1.4 1.4 1.5 1.5 8

 9 FL763065633 U.S.-chartered depository institutions 97.9 96.8 97.6 97.4 97.1 96.8 97.2 97.5 97.9 9

 10 FL753065603 Foreign banking offices in U.S. 0.2 0.1 0.2 0.2 0.1 0.1 0.1 0.1 0.2 10

 11 FL543065633 Life insurance companies 17.8 19.2 18.1 18.5 18.8 19.2 19.3 19.3 19.4 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 130.6 147.8 134.8 139.3 143.5 147.8 148.4 149.3 150.1 13

 14 FL413065605 Agency- and GSE-backed mortgage pools 1.1 0.9 1.1 1.0 1.0 0.9 0.8 0.9 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL153166000 Total liabilities (Households) 4192.2 4184.9 4147.8 4097.3 4142.7 4184.9 4167.2 4259.6 4343.3 1

 2 FL153166000 Total assets 4192.2 4184.9 4147.8 4097.3 4142.7 4184.9 4167.2 4259.6 4343.3 2

 3 FL163066223 Nonprofit organizations (1) 27.3 24.1 26.1 25.1 24.3 24.1 23.9 23.6 23.3 3

 4 FL103066005 Nonfinancial corporate business 35.8 35.8 34.7 34.8 35.1 35.8 34.7 34.8 35.1 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) 1319.2 1381.0 1350.6 1355.8 1379.4 1381.0 1410.1 1413.9 1438.3 6

 7 FL763066000 U.S.-chartered depository institutions 1771.0 1685.6 1709.9 1644.4 1649.2 1685.6 1633.2 1700.9 1741.7 7

 8 FL473066000 Credit unions 498.0 505.1 495.2 498.3 503.9 505.1 502.9 512.4 525.3 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 3.1 1.9 2.8 2.5 2.2 1.9 1.9 1.7 1.5 10

 11 FL613066005 Finance companies 537.7 551.4 528.5 536.4 548.6 551.4 560.5 572.3 578.0 11

 Memo:

 12 FL153166100 Credit card loans (3) 1092.0 974.6 1022.0 952.6 943.8 974.6 911.1 951.0 971.0 12

 13 FL153166400 Auto loans 1184.1 1224.4 1183.9 1197.4 1218.4 1224.4 1240.8 1275.2 1300.8 13

 14 FL153166220 Student loans (4) 1646.4 1702.6 1674.9 1680.6 1704.9 1702.6 1728.1 1730.3 1752.9 14

 15 FL153166205 Other consumer credit (5) 269.7 283.3 267.0 266.7 275.6 283.3 287.2 303.1 318.6 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM893064105 Issues at market value 54644.0 64905.7 43122.0 51985.2 56621.4 64905.7 69664.5 75303.6 75002.6 1

 2 LM883164105 Domestic sectors 45166.0 54369.8 35679.4 43410.4 47478.8 54369.8 58621.3 63570.2 63281.3 2

 3 LM103164103 Nonfinancial corporate business 33680.5 41962.3 27002.7 33391.1 36930.1 41962.3 44805.8 48359.0 47944.8 3

 4 LM103164113 Publicly traded (2) 27633.9 35190.1 22367.7 27794.1 30773.8 35190.1 37141.4 40272.0 40120.3 4

 5 LM103164123 Closely held 6046.6 6772.2 4635.0 5596.9 6156.4 6772.2 7664.4 8087.1 7824.4 5

 6 LM793164105 Financial corporations 11485.5 12407.5 8676.7 10019.3 10548.6 12407.5 13815.4 15211.1 15336.5 6

 7 LM793164115 Publicly traded (3) 10836.4 11748.1 8155.2 9418.2 9935.6 11748.1 13069.3 14424.1 14575.2 7

 8 LM793164123 Closely held 649.1 659.4 521.5 601.1 613.0 659.4 746.1 787.1 761.3 8

 9 LM263164100 Rest of the world (4) 9478.0 10535.9 7442.6 8574.9 9142.7 10535.9 11043.2 11733.4 11721.2 9

 10 LM893064105 Holdings at market value 54644.0 64905.7 43122.0 51985.2 56621.4 64905.7 69664.5 75303.6 75002.6 10

 11 LM153064105 Household sector 20989.2 25634.1 16420.2 20107.1 22197.5 25634.1 28033.6 30547.3 30402.0 11

 12 LM103064103 Nonfinancial corporate business 2317.7 2553.7 1834.2 2169.4 2319.8 2553.7 2669.4 2855.7 2830.6 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 214.1 250.0 167.6 202.8 219.5 250.0 264.4 284.5 282.4 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 147.7 160.1 95.9 120.6 133.0 160.1 176.5 191.1 184.6 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 493.9 518.6 399.8 431.7 461.9 518.6 547.0 586.4 591.3 18

 19 LM543064105 Life insurance companies 644.6 729.8 556.1 623.4 658.6 729.8 750.6 776.2 773.9 19

 20 LM573064105 Private pension funds 2961.8 3343.0 2286.3 2753.5 2960.5 3343.0 3532.2 3775.9 3724.1 20

 21 LM343064105 Federal government retirement funds 370.7 418.4 277.9 342.5 366.0 418.4 448.9 487.0 481.3 21

 22 LM223064145 State and local govt. retirement funds 2576.9 2861.9 2174.5 2376.0 2585.5 2861.9 2976.3 3183.3 3164.4 22

 23 LM653064100 Mutual funds 11934.5 13391.1 9203.8 11129.4 11843.4 13391.1 13977.9 14919.4 14795.6 23

 24 LM553064103 Closed-end funds 107.2 105.9 79.7 92.2 95.7 105.9 115.0 121.2 121.5 24

 25 LM563064100 Exchange-traded funds 3486.2 4233.6 2715.2 3283.8 3566.3 4233.6 4697.0 5189.7 5242.1 25

 26 LM663064103 Brokers and dealers 167.0 214.3 144.7 180.4 205.4 214.3 265.9 259.1 232.0 26

 27 FL503064105 Other financial business 0.0 8.8 0.0 8.0 8.6 8.8 8.5 1.1 0.0 27

 28 LM263064105 Rest of the world (5) 8199.2 10449.3 6733.2 8131.4 8966.6 10449.3 11168.2 12092.6 12143.6 28

 Memo:

 29 LM883164115 Publicly traded equity at market value (6) 38470.3 46938.2 30522.9 37212.3 40709.4 46938.2 50210.7 54696.0 54695.6 29

 30 LM883164125 Closely held equity at market value (7) 6695.7 7431.6 5156.5 6198.0 6769.4 7431.6 8410.6 8874.1 8585.8 30

 31 LM883164133 S corporations 4822.2 5321.4 4315.6 4634.6 4919.0 5321.4 6098.7 6468.5 6290.7 31

 32 LM883164135 C corporations 1873.5 2110.2 841.0 1563.4 1850.5 2110.2 2311.9 2405.6 2295.0 32

 33 PC073164013 Percent change in Dow Jones U.S. Total Market Index 28.42 18.72 -21.34 21.52 8.64 14.32 6.08 7.94 -0.44 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 17659.5 19562.6 14543.1 16776.1 17749.3 19562.6 20271.3 21459.7 21374.9 1

 2 LM653164205 Holdings at market value 17659.5 19562.6 14543.1 16776.1 17749.3 19562.6 20271.3 21459.7 21374.9 2

 3 LM153064205 Household sector 9966.1 11074.9 8143.8 9433.1 10025.6 11074.9 11567.8 12265.6 12233.5 3

 4 LM103064203 Nonfinancial corporate business 326.4 376.4 276.9 321.6 342.8 376.4 390.7 415.3 415.2 4

 5 LM213064203 State and local governments 98.9 112.8 83.4 96.4 102.2 112.8 116.6 123.4 122.9 5

 6 LM763064203 U.S.-chartered depository institutions 61.6 63.4 45.6 51.9 55.4 63.4 68.1 72.2 70.4 6

 7 LM473064205 Credit unions 3.3 4.8 3.2 3.8 4.0 4.8 6.1 6.9 7.3 7

 8 LM513064205 Property-casualty insurance companies 25.8 29.7 21.8 25.6 28.0 29.7 31.0 31.9 31.0 8

 9 LM543064205 Life insurance companies 1599.0 1702.1 1300.3 1487.1 1551.6 1702.1 1732.4 1827.3 1785.7 9

 10 LM573064205 Private pension funds 4307.6 4723.8 3567.8 4100.1 4315.7 4723.8 4870.4 5127.8 5083.0 10

 11 LM223064205 State and local govt. retirement funds 374.7 445.5 305.7 355.0 372.8 445.5 413.7 443.0 440.1 11

 12 LM263064203 Rest of the world 896.1 1029.2 794.6 901.6 951.3 1029.2 1074.6 1146.4 1185.7 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893170005 Total trade payables 5775.4 6058.5 5711.9 5580.4 5872.7 6058.5 6214.4 6422.6 6635.7 1

 2 FL163170005 Nonprofit organizations (1) 369.5 376.3 371.2 372.9 374.6 376.3 378.0 379.7 381.3 2

 3 FL103170005 Nonfinancial corporate business 2920.5 3055.3 2821.1 2694.0 2909.9 3055.3 3146.3 3309.6 3472.6 3

 4 FL113170005 Nonfinancial noncorporate business 641.5 615.6 644.2 606.1 619.8 615.6 639.6 649.5 663.4 4

 5 FL313170005 Federal government 418.3 435.5 416.2 405.6 422.6 435.5 452.0 469.4 483.0 5

 6 FL213170003 State and local governments 1048.8 1097.2 1061.0 1072.8 1084.8 1097.2 1109.9 1122.9 1136.1 6

 7 FL513170005 Property-casualty insurance companies 79.5 90.5 80.8 87.1 97.4 90.5 92.7 94.4 98.2 7

 8 FL543170005 Life insurance companies 199.9 288.1 219.3 247.6 266.1 288.1 290.2 297.4 299.5 8

 9 FL663170003 Brokers and dealers 15.8 18.5 20.1 17.8 16.7 18.5 19.7 15.9 17.6 9

 10 LM263170005 Rest of the world 81.6 81.6 77.8 76.6 80.9 81.6 86.0 83.9 84.1 10

 11 FL893070005 Total trade receivables 6232.0 6462.1 6173.9 6010.9 6281.9 6462.1 6663.1 6899.2 7101.6 11

 12 FL163070005 Nonprofit organizations (1) 271.3 279.0 273.2 275.2 277.1 279.0 280.7 282.4 284.2 12

 13 FL103070005 Nonfinancial corporate business 4053.2 4088.0 3957.3 3740.8 3948.9 4088.0 4243.4 4434.8 4600.7 13

 14 FL113070003 Nonfinancial noncorporate business 900.3 947.3 911.7 925.3 936.6 947.3 961.1 971.3 981.4 14

 15 FL313070000 Federal government 73.5 84.9 73.4 80.6 81.6 84.9 92.1 93.4 96.0 15

 16 FL213070003 State and local governments 249.3 256.7 242.6 231.0 246.7 256.7 265.0 276.9 289.0 16

 17 FL513070005 Property-casualty insurance companies 192.7 210.7 201.0 212.8 224.9 210.7 218.2 224.3 233.5 17

 18 FL543070005 Life insurance companies 108.0 130.4 112.9 120.1 124.8 130.4 130.8 134.5 134.1 18

 19 FL673070003 ABS issuers 34.6 35.1 36.9 35.5 32.6 35.1 34.2 36.3 35.2 19

 20 LM263070005 Rest of the world 349.1 430.0 364.8 389.7 408.6 430.0 437.5 445.3 447.5 20

 21 FL903070005 Discrepancy -456.6 -403.5 -462.0 -430.5 -409.1 -403.5 -448.7 -476.6 -465.9 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 2242.9 2385.1 2246.4 2290.1 2327.9 2385.1 2373.4 2414.8 2431.3 1

 2 FL313140003 Federal government 52.2 52.4 52.0 52.0 52.4 52.4 52.7 51.8 52.7 2

 3 FL543140005 Life insurance companies 2122.4 2248.9 2122.6 2161.3 2195.6 2248.9 2237.6 2278.7 2293.5 3

 4 FL263140005 Rest of the world 68.3 83.8 71.8 76.7 80.0 83.8 83.2 84.3 85.1 4

 5 FL893140005 Total assets 2242.9 2385.1 2246.4 2290.1 2327.9 2385.1 2373.4 2414.8 2431.3 5

 6 FL153040005 Household sector 1731.3 1867.0 1733.7 1776.1 1811.9 1867.0 1854.2 1886.5 1897.1 6

 7 FL763040005 U.S.-chartered depository institutions 178.8 184.8 179.7 181.0 182.8 184.8 186.9 191.6 193.9 7

 8 FL543040005 Life insurance companies 257.1 262.7 258.4 260.2 261.3 262.7 260.6 264.1 266.6 8

 9 FL733040005 Holding companies 65.0 69.0 66.0 67.0 68.0 69.0 70.0 71.0 72.0 9

 10 FL543141905 Rest of the world 10.7 1.6 8.7 5.8 3.9 1.6 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893150005 Total liabilities 28209.7 30092.0 26983.8 28297.5 28971.2 30092.0 30492.9 31241.6 31330.2 1

 2 FL543150005 Life insurance companies (1) 3483.4 3803.3 3263.3 3472.3 3582.4 3803.3 3812.4 3927.0 3932.4 2

 3 FL574190005 Private pension funds (2) 11079.4 12062.2 10089.2 10963.9 11366.3 12062.2 12317.3 12790.1 12777.2 3

 4 FL344090005 Federal government retirement funds (3) 4222.7 4424.3 4171.1 4276.0 4336.9 4424.3 4479.2 4546.8 4569.3 4

 5 FL224190005 State and local govt. retirement funds 9343.4 9674.3 9369.0 9479.2 9569.5 9674.3 9755.8 9847.4 9919.2 5

 6 FL263150005 Rest of the world 80.8 127.8 91.1 106.2 116.1 127.8 128.3 130.4 132.0 6

 7 FL893150005 Total assets 28209.7 30092.0 26983.8 28297.5 28971.2 30092.0 30492.9 31241.6 31330.2 7

 8 FL153050005 Households (4) 27994.2 29798.3 26751.0 28039.8 28697.1 29798.3 30198.2 30942.0 31026.9 8

 9 FL543050005 Life insurance companies 199.5 291.3 219.7 249.1 268.3 291.3 292.3 297.2 300.8 9

 10 FL543151905 Rest of the world 16.0 2.4 13.0 8.6 5.8 2.4 2.4 2.4 2.4 10

 Memo:

 11 LM893131573 Individual Retirement Accounts (IRAs): (5) 10850.0 12210.0 9365.0 10640.0 11190.0 12210.0 12555.0 13237.0 ND 11

 12 FL763131573 U.S.-chartered depository institutions 476.5 600.7 524.1 559.6 549.0 600.7 558.8 581.9 ND 12

 13 FL473131573 Credit unions 81.7 84.6 82.7 83.6 84.4 84.6 85.1 85.0 ND 13

 14 LM543131503 Life insurance companies 684.0 746.0 641.0 682.0 703.0 746.0 748.0 770.0 ND 14

 15 FL633131573 Money market funds 314.0 391.0 369.0 378.0 392.0 391.0 380.0 367.0 ND 15

 16 LM653131573 Mutual funds 4286.0 4836.0 3520.0 4092.0 4341.0 4836.0 5035.0 5359.0 ND 16

 17 LM153131575 Other self-directed accounts 5007.8 5551.7 4228.2 4844.9 5120.7 5551.7 5748.1 6074.1 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 596.4 615.1 616.7 658.0 607.4 615.1 608.1 562.3 561.1 1

 2 FL103178005 Nonfinancial corporate business 259.9 273.7 285.3 314.1 268.1 273.7 274.7 239.5 231.3 2

 3 FL113178003 Nonfinancial noncorporate business 164.0 177.1 169.1 175.5 177.5 177.1 181.8 179.9 178.9 3

 4 FL763178003 U.S.-chartered depository institutions 124.2 113.0 107.6 109.9 112.3 113.0 96.3 94.4 101.1 4

 5 FL513178005 Property-casualty insurance companies 12.9 13.4 15.6 15.9 12.2 13.4 15.0 12.1 11.3 5

 6 FL543178075 Life insurance companies 8.1 9.0 10.6 11.8 8.3 9.0 10.2 7.7 7.6 6

 7 FL613178005 Finance companies 14.9 14.4 15.0 15.2 14.4 14.4 14.9 13.7 14.8 7

 8 FL663178005 Brokers and dealers 12.2 14.4 13.6 15.7 14.5 14.4 15.2 15.0 16.1 8

 9 FL893078005 Total business taxes receivable 560.9 631.0 595.9 640.4 636.3 631.0 671.2 574.8 541.2 9

 10 FL313078000 Federal government 380.0 437.0 409.9 448.1 441.9 437.0 472.5 375.5 337.9 10

 11 FL213078005 State and local governments 180.9 194.0 186.0 192.4 194.4 194.0 198.7 199.3 203.3 11

 12 FL903078005 Discrepancy 35.4 -15.9 20.8 17.6 -28.9 -15.9 -63.1 -12.5 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 11970.2 12880.8 12097.4 12249.8 12487.6 12880.8 13170.5 13791.2 14427.4 1

 2 LM112090205 Nonfinancial noncorporate business 11886.7 12790.5 12012.6 12161.4 12400.6 12790.5 13076.7 13693.3 14327.8 2

 3 LM662090003 Brokers and dealers 83.5 90.3 84.8 88.5 87.1 90.3 93.8 98.0 99.6 3
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L.230 Direct Investment

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM263192005 U.S. direct investment abroad (1, 2) 7579.1 8240.8 5806.4 6855.9 7208.2 8240.8 8732.0 9367.5 9352.4 1

 Equity:

 2 LM263192101 Liab.: Rest of the world (1) 7449.1 8176.6 5713.6 6747.3 7130.4 8176.6 8668.8 9321.3 9291.4 2

 3 LM103092105 Asset: Nonfinancial corporate business 6256.0 6831.8 4773.5 5652.7 5974.8 6831.8 7226.6 7778.3 7740.8 3

 4 LM763092100 U.S.-chartered depository institutions 298.3 324.9 230.4 268.5 285.4 324.9 341.9 367.2 371.8 4

 5 LM513092103 Property-casualty insurance companies 188.9 214.3 149.3 180.7 194.1 214.3 233.6 249.4 250.4 5

 6 LM543092173 Life insurance companies 82.9 89.1 64.7 74.0 75.7 89.1 94.0 98.5 96.9 6

 7 LM613092103 Finance companies 329.0 369.7 264.5 301.0 317.2 369.7 411.7 439.4 449.1 7

 8 LM663092103 Brokers and dealers 293.9 346.8 231.3 270.5 283.1 346.8 361.0 388.4 382.4 8

 Intercompany debt:

 9 LM263192305 Liab.: Rest of the world (1, 2) 130.0 64.1 92.8 108.6 77.8 64.1 63.2 46.2 61.0 9

 10 LM263192313 U.S. parents’ claims 820.6 765.8 803.6 743.8 769.8 765.8 758.3 763.3 767.3 10

 11 LM263092313 Less: U.S. parents’ liabilities 690.6 701.7 710.8 635.2 691.9 701.7 695.1 717.1 706.3 11

 12 LM103092305 Asset: Nonfinancial corporate business 109.2 53.6 77.6 91.0 65.2 53.6 52.7 38.6 51.6 12

 13 LM763092305 U.S.-chartered depository institutions 5.2 2.5 3.7 4.3 3.1 2.5 2.5 1.8 1.7 13

 14 LM513092305 Property-casualty insurance companies 3.3 1.7 2.4 2.9 2.1 1.7 1.7 1.2 1.7 14

 15 LM543092375 Life insurance companies 1.4 0.7 1.1 1.2 0.8 0.7 0.7 0.5 0.6 15

 16 LM613092305 Finance companies 5.7 2.9 4.3 4.8 3.5 2.9 3.0 2.2 2.9 16

 17 LM663092305 Brokers and dealers 5.1 2.7 3.8 4.4 3.1 2.7 2.6 1.9 2.4 17

 18 LM263092001 Foreign direct investment in U.S. (1) 9362.9 10813.5 7577.2 8966.1 9704.9 10813.5 11402.4 12308.6 12393.5 18

 Equity:

 19 LM103192105 Liab.: Nonfinancial corporate business 7498.2 8712.1 5993.6 7192.3 7830.7 8712.1 9237.5 10036.6 10105.8 19

 20 LM115114103 Nonfinancial noncorporate business 105.6 121.2 83.8 100.6 107.9 121.2 127.3 139.8 147.6 20

 21 LM753192103 Foreign banking offices in U.S. 389.3 454.3 309.4 368.1 398.9 454.3 477.6 491.0 479.5 21

 22 LM513192103 Property-casualty insurance companies 195.7 227.7 153.0 176.1 188.1 227.7 238.3 258.1 258.0 22

 23 LM543192173 Life insurance companies 184.5 244.7 147.8 176.5 185.8 244.7 250.4 272.7 270.2 23

 24 LM613192103 Finance companies 142.7 174.9 115.8 139.7 154.6 174.9 189.6 205.7 206.4 24

 25 LM663192103 Brokers and dealers 178.9 246.3 122.1 174.4 196.5 246.3 262.7 297.7 299.9 25

 26 LM733192103 Holding companies 79.7 80.9 80.8 81.1 83.0 80.9 89.6 90.3 92.0 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) 8774.6 10262.0 7006.1 8408.9 9145.6 10262.0 10873.0 11791.8 11859.5 28

 Intercompany debt:

 29 LM103192305 Liab.: Nonfinancial corporate business 410.7 366.9 396.3 383.4 383.9 366.9 347.4 336.1 358.7 29

 30 LM115114305 Nonfinancial noncorporate business 7.1 6.5 6.8 6.7 6.6 6.5 6.2 6.1 6.0 30

 31 LM753192305 Foreign banking offices in U.S. 26.1 24.4 25.2 24.4 24.4 24.4 23.3 21.5 20.1 31

 32 LM513192305 Property-casualty insurance companies 13.1 12.2 12.5 11.7 11.5 12.2 11.6 11.3 10.8 32

 33 LM543192375 Life insurance companies 12.4 13.2 12.0 11.7 11.4 13.2 12.2 12.0 10.9 33

 34 LM613192305 Finance companies 9.6 9.4 9.4 9.3 9.5 9.4 9.2 9.0 9.1 34

 35 LM663192305 Brokers and dealers 12.0 13.2 10.0 11.6 12.0 13.2 12.8 13.0 20.6 35

 36 LM733192305 Holding companies 97.4 105.7 98.8 98.6 100.1 105.7 106.7 107.7 97.8 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) 588.4 551.5 571.1 557.2 559.3 551.5 529.4 516.7 534.0 38

 39 LM263092323 U.S. affiliates’ liabilities 1020.9 1014.3 1000.7 991.4 1005.6 1014.3 994.4 980.8 1001.1 39

 40 LM263192323 Less: U.S. affiliates’ claims 432.5 462.7 429.6 434.2 446.3 462.7 465.0 464.0 467.1 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893190005 Total liabilities 26036.8 27329.0 27290.1 27320.2 27420.5 27329.0 27802.4 27698.9 27946.6 1

 2 FL543077073 Household sector 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 37.9 2

 3 FL103190005 Nonfinancial corporate business 9249.6 9576.9 9288.0 9294.4 9418.1 9576.9 9664.8 9719.1 9762.0 3

 4 FL113193003 Nonfinancial noncorporate business 1838.2 1930.8 1866.2 1890.9 1909.4 1930.8 1953.2 1977.2 2001.2 4

 5 FL313190005 Federal government 1989.1 2366.9 2024.3 2216.9 2432.5 2366.9 2324.9 2272.0 2214.9 5

 6 FL223073045 State and local governments 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 3976.4 3745.6 3844.2 6

 7 FL713190005 Monetary authority 40.4 44.4 50.8 43.5 43.2 44.4 44.7 44.0 43.2 7

 8 FL763190005 U.S.-chartered depository institutions 2899.4 2844.8 2865.3 2823.9 2817.0 2844.8 2881.3 2924.0 2971.7 8

 9 FL753190005 Foreign banking offices in U.S. 198.4 187.3 239.1 220.8 203.3 187.3 233.3 216.6 225.3 9

 10 FL743193005 Banks in U.S.-affiliated areas 3.0 3.2 3.1 3.5 4.1 3.2 2.7 2.4 2.3 10

 11 FL473193005 Credit unions 19.4 23.3 19.9 24.1 23.3 23.3 22.6 25.0 26.4 11

 12 FL513190005 Property-casualty insurance companies 1599.7 1675.8 1600.1 1636.6 1675.8 1675.8 1730.0 1772.5 1845.6 12

 13 FL543190005 Life insurance companies 1721.3 1898.0 1790.4 1830.9 1838.7 1898.0 1916.2 1959.8 1977.9 13

 14 FL403190005 Government-sponsored enterprises 114.3 120.2 128.7 118.6 116.3 120.2 120.7 114.9 116.8 14

 15 FL613190005 Finance companies 272.9 289.9 281.2 285.7 286.2 289.9 296.4 280.2 301.0 15

 16 FL643193005 REITs 147.6 159.9 146.4 148.8 155.4 159.9 164.4 165.3 160.9 16

 17 FL663190005 Brokers and dealers 834.6 888.9 733.5 801.8 849.9 888.9 1082.9 1105.0 1114.2 17

 18 FL733193005 Holding companies 14.0 4.7 0.1 10.9 3.9 4.7 1.5 -0.8 9.9 18

 19 FL503190005 Other financial business 624.6 977.6 843.1 924.2 941.9 977.6 1077.4 1064.0 1012.4 19

 20 FL263190005 Rest of the world 276.1 263.0 620.7 507.2 286.1 263.0 270.3 274.3 279.0 20

 21 FL893090005 Total assets 28045.2 29135.6 31645.0 30248.3 30094.4 29135.6 29336.0 28759.4 29317.8 21

 22 FL153090005 Household sector 1286.9 1368.2 1289.7 1312.5 1349.9 1368.2 1380.4 1391.2 1419.7 22

 23 FL103090005 Nonfinancial corporate business 6776.4 6782.2 8376.5 7405.5 7450.7 6782.2 6683.7 6178.9 6404.0 23

 24 FL113090005 Nonfinancial noncorporate business 3593.4 3852.1 3623.1 3714.2 3824.9 3852.1 3858.1 3874.4 3835.4 24

 25 FL313090005 Federal government 215.7 337.7 218.7 333.8 335.9 337.7 278.8 269.3 257.9 25

 26 FL213093003 State and local governments 43.8 57.9 29.8 41.8 54.5 57.9 61.4 75.4 84.7 26

 27 FL713090005 Monetary authority 25.4 49.0 382.4 257.5 54.0 49.0 33.4 32.1 32.4 27

 28 FL763090005 U.S.-chartered depository institutions 423.5 650.9 724.9 624.3 679.4 650.9 620.3 611.4 643.0 28

 29 FL753093005 Foreign banking offices in U.S. 83.7 77.5 105.9 87.0 81.7 77.5 83.0 93.2 86.6 29

 30 FL743093005 Banks in U.S.-affiliated areas 17.0 11.9 13.1 10.5 11.8 11.9 19.4 19.8 8.9 30

 31 FL473090005 Credit unions 92.2 124.8 106.0 122.8 120.1 124.8 116.2 133.7 127.8 31

 32 FL513090005 Property-casualty insurance companies 493.3 522.5 476.3 462.9 473.8 522.5 495.9 505.9 492.5 32

 33 FL543090005 Life insurance companies 658.8 772.4 771.3 745.6 733.2 772.4 780.9 805.4 798.7 33

 34 FL573090005 Private pension funds 1950.4 1934.3 2323.9 2112.0 2068.4 1934.3 1932.4 1843.0 1910.1 34

 35 FL343073045 Federal government retirement funds 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 1764.8 35

 36 FL223090005 State and local govt. retirement funds 5234.3 5081.8 5730.2 5572.4 5414.1 5081.8 5063.9 4830.7 4933.8 36

 37 FL633093005 Money market funds 10.5 10.5 83.5 13.2 15.2 10.5 76.9 11.2 10.8 37

 38 FL653093005 Mutual funds 291.8 296.4 286.4 299.9 265.1 296.4 342.0 371.9 406.3 38

 39 LM563093003 Exchange-traded funds 84.9 150.3 94.0 127.8 151.9 150.3 132.8 145.0 137.5 39

 40 FL403093005 Government-sponsored enterprises 127.3 189.7 150.2 170.0 186.5 189.7 199.3 174.6 173.5 40

 41 FL673090543 ABS issuers 92.3 113.2 98.1 102.5 109.0 113.2 123.9 138.8 147.8 41

 42 FL613090005 Finance companies 51.5 63.1 58.2 60.8 55.6 63.1 44.8 39.8 27.6 42

 43 FL643090005 REITs 192.6 199.1 197.8 189.2 188.6 199.1 215.2 218.2 216.7 43

 44 FL663090005 Brokers and dealers 1129.8 1245.6 1289.9 1248.7 1245.9 1245.6 1423.0 1503.6 1591.6 44

 45 FL733090005 Holding companies 3301.2 3408.4 3308.5 3304.4 3318.2 3408.4 3444.0 3572.3 3600.9 45

 46 FL503090005 Other financial business 133.4 98.6 134.9 121.2 110.1 98.6 153.9 131.5 140.7 46

 47 FL263076005 Rest of the world 61.3 59.1 61.0 59.8 57.8 59.1 60.6 61.7 64.1 47

 48 FL903090005 Discrepancy -2008.5 -1806.6 -4354.9 -2928.1 -2673.9 -1806.6 -1533.6 -1060.6 -1371.2 48
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L.232 Identified Miscellaneous Financial Claims - Part I

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Federal government equity in IBRD, etc.:

 1 FL313092803 Liab.: Rest of the world 67.5 69.3 68.8 68.8 69.0 69.3 70.5 70.5 71.3 1

 2 FL313092803 Asset: Federal government 67.5 69.3 68.8 68.8 69.0 69.3 70.5 70.5 71.3 2

 Federal Reserve Bank stock:

 3 FL713164003 Liab.: Monetary authority 31.7 32.4 32.0 32.0 32.4 32.4 32.5 32.8 33.1 3

 4 FL713164003 Asset: U.S.-chartered depository institutions 31.7 32.4 32.0 32.0 32.4 32.4 32.5 32.8 33.1 4

 Equity in government-sponsored enterprises:

 5 FL403192405 Liab.: Government-sponsored enterprises 48.6 41.8 55.0 46.2 43.9 41.8 41.2 40.9 40.0 5

 6 FL103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 1.3 1.4 1.4 1.3 1.3 1.4 1.5 1.5 1.4 6

 7 FL113092405 Nonfinancial noncorporate (FCS) 12.8 13.0 12.6 12.8 13.0 13.0 13.0 13.6 13.8 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) 24.6 14.9 30.1 20.6 17.6 14.9 13.6 12.5 11.3 9

 10 FL473092403 Credit unions (FHLB) 3.9 3.9 4.3 3.9 4.0 3.9 3.8 4.0 4.1 10

 11 FL513092403 Property-casualty insurance companies (FHLB) 0.2 0.7 0.3 0.4 0.8 0.7 0.7 0.7 0.6 11

 12 FL543092473 Life insurance companies (FHLB) 5.2 7.8 6.0 7.0 7.3 7.8 8.5 8.7 8.7 12

 13 FL613092403 Finance companies 0.1 0.0 0.1 0.0 0.1 0.0 0.0 0.0 0.0 13

 14 FL643092473 Real estate investment trusts (FHLB) 0.5 0.0 0.3 0.1 0.0 0.0 0.0 0.0 0.0 14

 Holding company net transactions with affiliates:

 15 FL763194735 Liab.: U.S.-chartered depository institutions 2233.5 2306.1 2197.0 2225.0 2252.7 2306.1 2320.4 2386.3 2430.9 15

 16 FL513194733 Property-casualty insurance companies 6.8 2.9 6.7 1.9 3.0 2.9 3.7 4.4 4.4 16

 17 FL543194733 Life insurance companies 5.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL613194733 Finance companies 10.2 8.2 9.3 9.1 9.3 8.2 7.6 6.9 20.2 18

 19 FL663194735 Brokers and dealers 983.3 1064.7 1049.4 1002.0 1007.8 1064.7 1066.6 1124.2 1099.7 19

 20 FL263194735 Rest of the world 17.1 -14.5 5.6 22.8 6.4 -14.5 3.0 5.8 3.0 20

 21 FL733094705 Asset: Holding companies 3256.9 3367.4 3268.0 3260.8 3279.1 3367.4 3401.3 3527.7 3558.2 21

 NFC investment in finance company affiliates:

 22 FL103094105 Liab.: Finance companies 112.5 109.5 111.3 107.8 103.8 109.5 109.4 99.6 83.5 22

 23 FL103094105 Asset: Nonfinancial corporate business 112.5 109.5 111.3 107.8 103.8 109.5 109.4 99.6 83.5 23

 Other financial businesses’ investment in affiliates:

 24 FL753194503 Liab.: Foreign banking offices in U.S. 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 125.8 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 119.5 92.0 122.4 111.5 101.0 92.0 134.2 116.8 125.8 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 1.5 0.0 1.5 1.5 1.5 1.5 0.0 0.0 30

 31 FL503194205 Other financial business 0.0 112.5 0.0 112.5 112.5 112.5 50.3 40.3 26.9 31

 32 FL313094205 Asset: Federal government 0.0 114.0 0.0 114.0 114.0 114.0 51.8 40.3 26.9 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Nonofficial foreign currencies:

 1 FL263191103 Liab.: Rest of the world 6.4 20.5 360.3 229.5 26.5 20.5 5.1 3.2 3.0 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) 3.7 17.9 357.7 226.9 23.9 17.9 2.5 0.6 0.3 3

 Postal Savings System deposits:

 4 FL313131003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL313131003 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 FL403197033 Liab.: Government-sponsored enterprises 10.4 15.3 15.1 15.8 14.9 15.3 17.6 15.6 15.6 6

 7 FL403197033 Asset: U.S.-chartered depository institutions 10.4 15.3 15.1 15.8 14.9 15.3 17.6 15.6 15.6 7

 Paycheck Protection Program subsidies payable:

 8 FL313172003 Liab.: Federal government 0.0 364.7 0.0 158.5 383.7 364.7 290.8 219.8 121.5 8

 9 FL163072003 Asset: Nonprofit organizations 0.0 35.5 0.0 14.3 34.6 35.5 30.8 26.0 19.4 9

 10 FL103072005 Nonfinancial corporate business 0.0 210.0 0.0 92.5 223.9 210.0 166.4 118.1 101.2 10

 11 FL113072003 Nonfinancial noncorporate business 0.0 117.5 0.0 51.0 123.5 117.5 92.4 75.2 0.8 11

 12 FL613072003 Finance companies 0.0 1.6 0.0 0.7 1.7 1.6 1.2 0.5 0.1 12

 Funding agreements backing securities:

 13 FL673090543 Liab.: Life insurance companies (2) 92.3 113.2 98.1 102.5 109.0 113.2 123.9 138.8 147.8 13

 14 FL673090543 Asset: ABS issuers 92.3 113.2 98.1 102.5 109.0 113.2 123.9 138.8 147.8 14

 Deferred and unpaid life insurance premiums:

 15 FL543077073 Liab.: Household sector 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 37.9 15

 16 FL543077073 Asset: Life insurance companies 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 37.9 16

 Life insurance company reserves:

 17 FL543195005 Liab.: Life insurance companies 426.6 445.8 429.2 435.2 442.1 445.8 448.6 449.7 456.1 17

 18 FL263195105 Rest of the world 18.6 24.4 19.9 21.8 23.0 24.4 24.4 24.5 24.8 18

 19 FL153095105 Asset: Household sector 367.6 383.8 369.6 374.6 380.8 383.8 386.7 387.5 393.3 19

 20 FL543095105 Life insurance companies 77.6 86.4 79.6 82.4 84.2 86.4 86.3 86.8 87.6 20

 Policy payables:

 21 FL513176005 Liab.: Property-casualty insurance companies 1338.2 1393.5 1345.2 1364.5 1394.8 1393.5 1427.0 1453.3 1511.0 21

 22 FL263176005 Rest of the world 166.6 163.3 166.1 164.3 161.3 163.3 167.2 170.3 177.1 22

 23 FL153076005 Asset: Household sector 603.9 625.2 606.5 612.9 623.8 625.2 640.7 652.0 678.4 23

 24 FL103076005 Nonfinancial corporate business 392.0 414.0 394.8 402.4 414.0 414.0 423.9 431.8 448.9 24

 25 FL113076005 Nonfinancial noncorporate business 129.0 136.0 130.0 132.5 135.8 136.0 138.9 141.8 147.0 25

 26 FL513076005 Property-casualty insurance companies 318.6 322.4 319.1 321.2 324.8 322.4 330.2 336.3 349.6 26

 27 FL263076005 Rest of the world 61.3 59.1 61.0 59.8 57.8 59.1 60.6 61.7 64.1 27

 Unallocated insurance company contracts:

 28 FL593095005 Liab.: Life insurance companies 846.1 882.0 809.3 841.8 855.1 882.0 883.0 902.3 899.9 28

 29 FL573095005 Asset: Private pension funds 592.1 615.6 562.4 588.1 595.5 615.6 615.0 629.2 626.2 29

 30 FL223095505 State and local government retirement funds 254.0 266.4 246.9 253.8 259.6 266.4 267.9 273.1 273.7 30

 Pension fund contributions payable:

 31 FL573074005 Liab.: Nonfinancial corporate business 80.1 70.2 79.4 76.6 73.7 70.2 67.9 64.3 61.0 31

 32 FL573074005 Asset: Private pension funds 80.1 70.2 79.4 76.6 73.7 70.2 67.9 64.3 61.0 32

 Securities brokers and dealers payables:

 33 FL663170605 Liab.: Brokers and dealers 473.5 522.7 466.8 492.5 517.2 522.7 683.7 694.7 739.7 33

 34 FL503170655 Other financial business 701.4 760.6 756.8 757.1 725.4 760.6 782.2 868.1 931.4 34

 35 FL663070605 Asset: Brokers and dealers 1161.0 1276.5 1211.1 1239.8 1233.5 1276.5 1446.3 1548.0 1656.2 35

 36 FL503070655 Other financial business 13.9 6.7 12.5 9.8 9.1 6.7 19.7 14.7 14.9 36

 Retiree health care funds:

 37 FL313195105 Liab.: Federal government (3) 315.4 323.6 313.6 310.7 310.8 323.6 322.2 325.7 328.6 37

 38 FL313195105 Asset: Household sector 315.4 323.6 313.6 310.7 310.8 323.6 322.2 325.7 328.6 38

 Claims of pension fund on sponsor:

 39 FL573073005 Liab.: Nonfinancial corporate business 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 127.6 39

 40 FL343073045 Federal government 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 1764.8 40

 41 FL223073045 State and local governments 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 3976.4 3745.6 3844.2 41

 42 FL573073005 Asset: Private pension funds 404.8 218.9 760.1 488.7 403.9 218.9 206.5 77.8 127.6 42

 43 FL343073045 Federal government retirement funds 1673.9 1678.6 1710.8 1747.7 1738.1 1678.6 1711.9 1726.4 1764.8 43

 44 FL223073045 State and local govt. retirement funds 4157.6 4037.0 4750.2 4499.4 4377.5 4037.0 3976.4 3745.6 3844.2 44

(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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893193005 Total liabilities 11651.8 12431.9 11512.6 11834.5 12082.6 12431.9 12784.3 12852.4 12816.0 1

 2 FL103193005 Nonfinancial corporate business 8764.7 9287.8 8448.5 8729.1 8940.5 9287.8 9390.3 9577.0 9573.3 2

 3 FL113193003 Nonfinancial noncorporate business 1838.2 1930.8 1866.2 1890.9 1909.4 1930.8 1953.2 1977.2 2001.2 3

 4 FL313193013 Federal government -0.2 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL713193005 Monetary authority 8.7 10.5 18.8 10.0 9.3 10.5 10.7 11.2 10.1 5

 6 FL763193005 U.S.-chartered depository institutions 665.9 538.6 668.3 598.9 564.3 538.6 561.0 537.7 540.8 6

 7 FL753193005 Foreign banking offices in U.S. 78.9 95.3 116.7 109.3 102.3 95.3 99.0 99.8 99.5 7

 8 FL743193005 Banks in U.S.-affiliated areas 3.0 3.2 3.1 3.5 4.1 3.2 2.7 2.4 2.3 8

 9 FL473193005 Credit unions 19.4 23.3 19.9 24.1 23.3 23.3 22.6 25.0 26.4 9

 10 FL513193005 Property-casualty insurance companies 254.6 279.5 248.2 270.3 278.0 279.5 299.4 314.8 330.2 10

 11 FL543193005 Life insurance companies 350.5 457.0 453.7 451.2 432.6 457.0 460.8 469.0 474.1 11

 12 FL403193005 Government-sponsored enterprises 55.3 63.1 58.6 56.7 57.5 63.1 61.9 58.4 61.2 12

 13 FL613193005 Finance companies 150.2 172.2 160.6 168.8 173.2 172.2 179.4 173.7 197.3 13

 14 FL643193005 REITs 147.6 159.9 146.4 148.8 155.4 159.9 164.4 165.3 160.9 14

 15 FL663193005 Brokers and dealers -622.3 -698.5 -782.6 -692.7 -675.0 -698.5 -667.4 -713.9 -725.2 15

 16 FL733193005 Holding companies 14.0 4.7 0.1 10.9 3.9 4.7 1.5 -0.8 9.9 16

 17 FL503193005 Other financial business -76.8 104.5 86.3 54.7 104.0 104.5 244.8 155.7 54.2 17

 18 FL893093005 Total assets 13660.3 14238.5 15867.5 14762.6 14756.6 14238.5 14317.8 13913.0 14187.3 18

 19 FL103093005 Nonfinancial corporate business 6270.6 6047.3 7869.0 6801.6 6707.8 6047.3 5982.4 5527.8 5769.0 19

 20 FL113093005 Nonfinancial noncorporate business 3451.7 3585.6 3480.5 3517.9 3552.7 3585.6 3613.8 3643.8 3673.8 20

 21 FL313093003 Federal government 145.7 151.8 147.3 148.4 150.3 151.8 153.9 155.9 157.1 21

 22 FL213093003 State and local governments 43.8 57.9 29.8 41.8 54.5 57.9 61.4 75.4 84.7 22

 23 FL713093005 Monetary authority 21.7 31.1 24.7 30.6 30.1 31.1 30.9 31.5 32.1 23

 24 FL763093005 U.S.-chartered depository institutions 356.8 588.2 647.8 555.8 614.6 588.2 556.6 550.6 583.1 24

 25 FL753093005 Foreign banking offices in U.S. 83.7 77.5 105.9 87.0 81.7 77.5 83.0 93.2 86.6 25

 26 FL743093005 Banks in U.S.-affiliated areas 17.0 11.9 13.1 10.5 11.8 11.9 19.4 19.8 8.9 26

 27 FL473093005 Credit unions 88.2 120.9 101.7 118.9 116.2 120.9 112.4 129.7 123.7 27

 28 FL513093005 Property-casualty insurance companies 174.5 199.3 156.9 141.3 148.2 199.3 165.0 169.0 142.3 28

 29 FL543093005 Life insurance companies 539.4 641.6 646.7 618.1 604.0 641.6 647.3 672.0 664.5 29

 30 FL573093005 Private pension funds 873.4 1029.6 921.9 958.6 995.2 1029.6 1042.9 1071.7 1095.2 30

 31 FL223093005 State and local govt. retirement funds 822.8 778.3 733.1 819.1 777.0 778.3 819.6 812.0 815.9 31

 32 FL633093005 Money market funds 10.5 10.5 83.5 13.2 15.2 10.5 76.9 11.2 10.8 32

 33 FL653093005 Mutual funds 291.8 296.4 286.4 299.9 265.1 296.4 342.0 371.9 406.3 33

 34 LM563093003 Exchange-traded funds 84.9 150.3 94.0 127.8 151.9 150.3 132.8 145.0 137.5 34

 35 FL403093005 Government-sponsored enterprises 127.3 189.7 150.2 170.0 186.5 189.7 199.3 174.6 173.5 35

 36 FL613093005 Finance companies 51.4 61.4 58.1 60.0 53.8 61.4 43.6 39.4 27.5 36

 37 FL643093005 REITs 192.1 199.1 197.6 189.1 188.6 199.1 215.2 218.2 216.7 37

 38 FL663093005 Brokers and dealers -31.2 -31.0 78.7 8.9 12.4 -31.0 -23.3 -44.4 -64.6 38

 39 FL733093005 Holding companies 44.3 40.9 40.5 43.7 39.1 40.9 42.7 44.6 42.7 39

 40 FL903090005 Discrepancy -2008.5 -1806.6 -4354.9 -2928.1 -2673.9 -1806.6 -1533.6 -1060.6 -1371.2 40
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B.101 Balance Sheet of Households and Nonprofit Organizations (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL152000005 Assets 133319.1 148039.4 127156.1 135161.7 139751.8 148039.4 153528.6 160010.6 162678.0 1

 2 LM152010005 Nonfinancial assets 39932.4 43522.3 40635.9 41369.8 42331.4 43522.3 44947.6 46881.7 48621.0 2

 3 LM155035005 Real estate 33548.4 36749.5 34212.2 34935.0 35671.1 36749.5 37978.0 39484.8 40924.9 3

 4 LM155035015 Households (2) 29993.1 32989.1 30624.4 31319.8 32047.6 32989.1 34179.0 35549.7 36812.5 4

 5 LM165035005 Nonprofit organizations 3555.3 3760.5 3587.8 3615.2 3623.5 3760.5 3799.0 3935.1 4112.4 5

 6 LM165015205 Equipment (nonprofits) (3) 459.3 485.6 468.4 474.0 479.6 485.6 495.5 498.6 510.6 6

 7 LM165013765 Intellectual property products (nonprofits) (3) 194.2 206.1 196.7 200.2 202.9 206.1 207.1 209.4 211.4 7

 8 LM155111005 Consumer durable goods (3) 5730.5 6081.0 5758.7 5760.7 5977.8 6081.0 6267.1 6688.9 6974.1 8

 9 FL154090005 Financial assets 93386.7 104517.1 86520.2 93791.9 97420.4 104517.1 108581.1 113128.9 114057.0 9

 10 LM153091003 Foreign deposits 40.8 48.6 50.2 43.7 47.7 48.6 50.0 49.4 48.2 10

 11 FL153020005 Checkable deposits and currency 1173.4 2883.9 1317.2 1595.2 1732.2 2883.9 3308.8 3686.4 3714.7 11

 12 FL153030005 Time and savings deposits 9834.5 10305.6 10118.1 10646.8 10749.8 10305.6 10792.1 10605.2 10711.0 12

 13 FL153034005 Money market fund shares 2210.7 2548.1 2396.8 2660.0 2626.3 2548.1 2728.4 2772.7 2754.8 13

 14 LM154022005 Debt securities 4770.1 4564.4 4623.7 4374.3 4177.0 4564.4 3941.1 3619.1 3798.8 14

 15 LM153061105 Treasury securities 1776.9 1756.1 1427.9 1328.6 1402.7 1756.1 1527.6 1256.8 1401.0 15

 16 LM153061705 Agency- and GSE-backed securities 685.2 331.9 699.9 452.1 383.2 331.9 202.6 284.9 201.2 16

 17 LM153062005 Municipal securities 1931.4 1951.7 1909.2 1932.9 1940.3 1951.7 1911.1 1902.8 1842.5 17

 18 LM153063005 Corporate and foreign bonds 376.6 524.7 586.8 660.6 450.8 524.7 299.8 174.7 354.1 18

 19 FL154023005 Loans 1147.9 1264.4 1305.1 1278.2 1240.8 1264.4 1275.4 1289.9 1338.6 19

 20 FL153069005 Other loans and advances (4) 1038.6 1156.6 1196.4 1170.5 1133.3 1156.6 1168.9 1185.2 1235.7 20

 21 FL153065005 Mortgages 82.1 83.6 82.6 82.6 83.2 83.6 82.6 81.0 79.5 21

 22 FL163066223 Consumer credit (student loans) (5) 27.3 24.1 26.1 25.1 24.3 24.1 23.9 23.6 23.3 22

 23 LM153064105 Corporate equities 20989.2 25634.1 16420.2 20107.1 22197.5 25634.1 28033.6 30547.3 30402.0 23

 24 LM153064205 Mutual fund shares 9966.1 11074.9 8143.8 9433.1 10025.6 11074.9 11567.8 12265.6 12233.5 24

 25 FL163070005 Trade receivables (5) 271.3 279.0 273.2 275.2 277.1 279.0 280.7 282.4 284.2 25

 26 FL153040005 Life insurance reserves 1731.3 1867.0 1733.7 1776.1 1811.9 1867.0 1854.2 1886.5 1897.1 26

 27 FL153050005 Pension entitlements (6) 27994.2 29798.3 26751.0 28039.8 28697.1 29798.3 30198.2 30942.0 31026.9 27

 28 LM152090205 Equity in noncorporate business (7) 11970.2 12880.8 12097.4 12249.8 12487.6 12880.8 13170.5 13791.2 14427.4 28

 29 FL153090005 Miscellaneous assets 1286.9 1368.2 1289.7 1312.5 1349.9 1368.2 1380.4 1391.2 1419.7 29

 30 FL154190005 Liabilities 16505.1 17123.3 16570.4 16577.0 16841.2 17123.3 17322.3 17663.6 17968.6 30

 31 FL163162003 Debt securities (municipal securities) (5) 212.8 202.5 209.8 207.6 206.2 202.5 203.2 202.9 201.8 31

 32 FL154123005 Loans 15886.4 16508.0 15950.3 15958.4 16222.8 16508.0 16702.4 17043.1 17347.6 32

 33 FL153165105 One-to-four-family residential mortgages (8) 10481.2 10919.7 10541.6 10622.7 10780.7 10919.7 11042.3 11266.8 11497.0 33

 34 FL153166000 Consumer credit 4192.2 4184.9 4147.8 4097.3 4142.7 4184.9 4167.2 4259.6 4343.3 34

 35 FL153168005 Depository institution loans n.e.c. 350.2 370.5 383.9 375.8 364.6 370.5 370.2 371.5 384.9 35

 36 FL153169005 Other loans and advances 603.9 772.4 617.7 603.0 674.7 772.4 862.1 884.2 861.2 36

 37 FL163165505 Commercial mortgages (5) 259.0 260.4 259.3 259.7 260.0 260.4 260.7 260.9 261.2 37

 38 FL163170005 Trade payables (5) 369.5 376.3 371.2 372.9 374.6 376.3 378.0 379.7 381.3 38

 39 FL543077073 Deferred and unpaid life insurance premiums 36.5 36.6 39.0 38.1 37.7 36.6 38.7 37.9 37.9 39

 40 FL152090005 Net worth 116813.9 130916.1 110585.7 118584.7 122910.6 130916.1 136206.3 142347.1 144709.4 40

 Memo:

 41 FL893131573 Assets held in IRAs (9) 10850.0 12210.0 9365.0 10640.0 11190.0 12210.0 12555.0 13237.0 ND 41

 42 FL154023205 Assets held in 529 college plans (9) 371.4 425.3 329.9 373.5 387.4 425.3 438.4 464.3 458.6 42

 43 LM154023223 College savings plans 346.3 398.6 306.2 348.2 361.7 398.6 412.3 437.2 431.2 43

 44 FL154023213 Prepaid tuition plans 25.1 26.7 23.7 25.3 25.8 26.7 26.0 27.2 27.3 44

 Replacement-cost value of structures:

 45 LM155012605 Residential 18882.9 20254.8 19114.8 19257.0 19805.3 20254.8 20960.8 21818.1 22629.7 45

 46 LM155012665 Households 18578.7 19935.6 18808.6 18950.3 19491.5 19935.6 20631.0 21475.3 22274.3 46

 47 LM165012665 Nonprofit organizations 304.2 319.2 306.2 306.8 313.8 319.2 329.8 342.8 355.4 47

 48 LM165013665 Nonresidential (nonprofits) 2010.6 2055.3 2030.2 2034.6 2046.5 2055.3 2077.9 2125.5 2183.8 48

 49 FA156012005 Disposable personal income (DPI) (SAAR) 16219.3 17432.0 16600.6 18249.6 17595.7 17282.2 19455.3 18137.4 18183.5 49

 50 FL152090006 Net worth/DPI (percent) (line 40/line 49) 720.22 751.01 666.16 649.79 698.53 757.52 700.10 784.83 795.83 50

 51 FL155035065 Owners’ equity in real estate (line 4 less line 33) 19511.9 22069.4 20082.8 20697.1 21266.9 22069.4 23136.7 24282.9 25315.5 51

 52 FL155035066 Owners’ equity/real estate (percent) (line 51/line 4) 65.05 66.90 65.58 66.08 66.36 66.90 67.69 68.31 68.77 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL102000005 Assets 47296.2 50184.0 47649.2 48351.0 49049.0 50184.0 50940.8 52037.6 53481.6 1

 2 LM102010005 Nonfinancial assets 24814.3 25868.2 24989.9 25112.4 25167.2 25868.2 26171.2 26795.8 27680.8 2

 3 LM105035005 Real estate (market value) 14126.0 14833.5 14244.5 14336.8 14284.1 14833.5 14914.2 15373.1 16048.4 3

 4 LM105015205 Equipment (replacement cost) 5254.9 5355.7 5304.7 5323.5 5337.9 5355.7 5421.4 5414.9 5509.1 4

 5 LM105013765 Intellectual property products (replacement cost) 2790.1 3013.0 2842.0 2908.3 2952.7 3013.0 3051.3 3105.8 3159.7 5

 6 LM105020015 Inventories (replacement cost) 2643.2 2666.1 2598.7 2543.8 2592.5 2666.1 2784.2 2901.9 2963.5 6

 7 FL104090005 Financial assets 22481.9 24315.8 22659.3 23238.5 23881.8 24315.8 24769.7 25241.8 25800.9 7

 8 FL103091003 Foreign deposits 131.0 142.6 111.3 145.3 159.6 142.6 141.8 176.8 168.8 8

 9 FL103020000 Checkable deposits and currency 1339.9 2005.2 1559.9 2014.0 2104.4 2005.2 1986.2 1963.4 2104.9 9

 10 FL103030003 Time and savings deposits 201.5 308.7 298.9 329.8 333.5 308.7 299.2 305.8 344.2 10

 11 FL103034000 Money market fund shares 558.3 677.9 919.6 868.9 686.8 677.9 628.6 609.7 644.8 11

 12 FL102051003 Security repurchase agreements 13.4 39.8 27.4 32.4 30.3 39.8 27.1 36.8 30.8 12

 13 LM104022005 Debt securities 326.6 381.3 374.5 394.9 391.7 381.3 346.1 372.9 388.6 13

 14 FL103069100 Commercial paper 217.6 255.9 227.8 219.9 238.7 255.9 235.6 268.2 274.3 14

 15 LM103061103 Treasury securities 63.6 75.2 92.2 112.9 96.2 75.2 64.1 59.5 66.9 15

 16 LM103061703 Agency- and GSE-backed securities 21.2 25.1 30.7 37.6 32.1 25.1 21.4 19.8 22.3 16

 17 LM103062003 Municipal securities 24.2 25.1 23.8 24.4 24.7 25.1 25.0 25.4 25.1 17

 18 FL104023005 Loans 72.2 74.6 71.7 72.4 73.2 74.6 74.1 74.8 75.7 18

 19 FL103065003 Mortgages 36.4 38.8 37.0 37.6 38.2 38.8 39.4 40.0 40.6 19

 20 FL103066005 Consumer credit 35.8 35.8 34.7 34.8 35.1 35.8 34.7 34.8 35.1 20

 21 LM103064103 Corporate equities 2317.7 2553.7 1834.2 2169.4 2319.8 2553.7 2669.4 2855.7 2830.6 21

 22 LM103064203 Mutual fund shares 326.4 376.4 276.9 321.6 342.8 376.4 390.7 415.3 415.2 22

 23 FL103070005 Trade receivables 4053.2 4088.0 3957.3 3740.8 3948.9 4088.0 4243.4 4434.8 4600.7 23

 24 LM103092005 U.S. direct investment abroad (1) 6365.2 6885.4 4851.1 5743.6 6040.0 6885.4 7279.3 7816.9 7792.4 24

 25 FL103090005 Miscellaneous assets 6776.4 6782.2 8376.5 7405.5 7450.7 6782.2 6683.7 6178.9 6404.0 25

 26 FL104190005 Liabilities 22974.3 24335.6 23586.9 23882.3 24041.2 24335.6 24691.8 24857.3 25212.2 26

 27 FL104122005 Debt securities 6582.9 7200.1 6816.9 7178.1 7195.5 7200.1 7319.3 7330.8 7400.4 27

 28 FL103169100 Commercial paper 194.5 132.2 243.1 166.1 122.2 132.2 144.0 132.0 122.4 28

 29 FL103162000 Municipal securities (2) 586.6 590.6 589.2 590.4 591.3 590.6 591.0 596.0 598.1 29

 30 FL103163003 Corporate bonds (1) 5801.8 6477.3 5984.6 6421.6 6482.1 6477.3 6584.3 6602.9 6679.9 30

 31 FL104123005 Loans 3550.7 3862.7 3979.2 4018.3 3865.7 3862.7 3939.3 3922.2 3987.2 31

 32 FL103168005 Depository institution loans n.e.c. 1034.0 1111.6 1368.0 1361.6 1164.0 1111.6 1119.3 1030.7 989.0 32

 33 FL103169005 Other loans and advances 1837.7 2025.8 1924.2 1958.1 1993.3 2025.8 2081.3 2124.0 2192.9 33

 34 FL103165005 Mortgages 679.0 725.4 687.1 698.6 708.3 725.4 738.7 767.6 805.3 34

 35 FL103170005 Trade payables 2920.5 3055.3 2821.1 2694.0 2909.9 3055.3 3146.3 3309.6 3472.6 35

 36 FL103178005 Taxes payable 259.9 273.7 285.3 314.1 268.1 273.7 274.7 239.5 231.3 36

 37 LM103192305 Foreign direct investment: intercompany debt 410.7 366.9 396.3 383.4 383.9 366.9 347.4 336.1 358.7 37

 38 FL103190005 Miscellaneous liabilities 9249.6 9576.9 9288.0 9294.4 9418.1 9576.9 9664.8 9719.1 9762.0 38

 39 FL102090005 Net worth 24321.9 25848.4 24062.3 24468.7 25007.7 25848.4 26249.0 27180.3 28269.5 39

 Memo:

 40 LM103164103 Corporate equities (market value) 33680.5 41962.3 27002.7 33391.1 36930.1 41962.3 44805.8 48359.0 47944.8 40

 41 LM103164113 Public issues 27633.9 35190.1 22367.7 27794.1 30773.8 35190.1 37141.4 40272.0 40120.3 41

 42 LM103164123 Private issues 6046.6 6772.2 4635.0 5596.9 6156.4 6772.2 7664.4 8087.1 7824.4 42

 43 LM103192105 Foreign direct investment: equity 7498.2 8712.1 5993.6 7192.3 7830.7 8712.1 9237.5 10036.6 10105.8 43

 44 FL103164106 Equities/net worth (percent) (3) 169.31 196.04 137.13 165.86 178.99 196.04 205.89 214.85 205.35 44

 45 FL104104016 Debt/equities (percent) (3) 24.61 21.83 32.72 27.59 24.71 21.83 20.83 19.27 19.62 45

 46 FL104104006 Debt/net worth (percent) (3) 41.66 42.80 44.87 45.76 44.23 42.80 42.89 41.40 40.28 46

 With nonfinancial assets stated at historical cost:

 47 FL102000115 Assets (sum of lines 7 and 48) 39080.4 41328.3 39383.7 40036.5 40744.2 41328.3 42015.5 42673.7 43452.3 47

 48 FL102010115 Nonfinancial assets 16598.5 17012.5 16724.4 16797.9 16862.4 17012.5 17245.8 17431.9 17651.5 48

 49 FL105035045 Real estate 6597.2 6785.4 6660.8 6710.0 6740.6 6785.4 6821.8 6855.9 6892.6 49

 50 FL105013213 Equipment 5058.9 5145.8 5085.5 5089.9 5113.3 5145.8 5184.5 5224.1 5260.3 50

 51 FL105013715 Intellectual property products 2592.9 2743.9 2632.3 2666.1 2702.9 2743.9 2789.1 2838.1 2888.1 51

 52 FL105020000 Inventories 2349.6 2337.4 2345.8 2331.9 2305.5 2337.4 2450.3 2513.8 2610.5 52

 53 FL102090115 Net worth (historical cost) (line 47 less line 26) 16106.1 16992.7 15796.8 16154.2 16703.0 16992.7 17323.6 17816.4 18240.2 53

 Memo:

 Historical-cost value of structures:

 54 FL105012613 Residential 115.7 122.0 117.3 118.5 120.1 122.0 123.9 125.9 127.9 54

 55 FL105013613 Nonresidential 5782.2 5962.3 5844.1 5887.9 5926.8 5962.3 5999.2 6036.3 6073.2 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, December 9, 2021

B.104 Balance Sheet of Nonfinancial Noncorporate Business

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL112000005 Assets 20779.7 22297.3 21077.0 21473.8 21847.6 22297.3 22700.0 23397.5 24083.9 1

 2 LM112010005 Nonfinancial assets 14599.4 15569.5 14716.4 14893.9 15149.3 15569.5 15895.9 16537.1 17196.5 2

 3 LM115035005 Real estate (1) 13160.4 14098.3 13277.7 13454.5 13695.7 14098.3 14379.8 14991.1 15610.2 3

 4 LM115035023 Residential 7417.6 8069.7 7489.0 7616.3 7846.7 8069.7 8327.4 8790.9 9203.9 4

 5 LM115035035 Nonresidential 5742.8 6028.6 5788.6 5838.2 5849.0 6028.6 6052.4 6200.2 6406.3 5

 6 LM115015205 Equipment (2) 885.9 909.9 895.3 900.0 905.4 909.9 942.7 964.6 1003.8 6

 7 LM115012265 Residential (3) 56.6 65.7 57.5 59.1 62.9 65.7 66.9 69.5 73.0 7

 8 LM115013265 Nonresidential 829.2 844.1 837.9 841.0 842.6 844.1 875.8 895.2 930.8 8

 9 LM115013765 Intellectual property products (2) 295.0 316.6 299.0 305.7 309.6 316.6 316.8 317.9 318.6 9

 10 LM115020005 Inventories (2) 258.2 244.7 244.3 233.6 238.6 244.7 256.7 263.5 263.9 10

 11 FL114090005 Financial assets 6180.3 6727.8 6360.6 6579.9 6698.2 6727.8 6804.0 6860.4 6887.4 11

 12 FL113020005 Checkable deposits and currency 337.9 437.3 394.7 442.0 438.9 437.3 460.3 474.4 496.0 12

 13 FL113030003 Time and savings deposits 1106.5 1229.0 1181.2 1238.9 1235.2 1229.0 1262.8 1277.7 1311.0 13

 14 FL113034003 Money market fund shares 110.4 119.5 113.9 118.3 119.7 119.5 120.2 120.6 121.2 14

 15 LM114022005 Debt securities 80.0 86.6 82.6 85.8 86.8 86.6 84.0 84.3 83.5 15

 16 LM113061003 Treasury securities 74.1 80.2 76.5 79.4 80.4 80.2 77.4 77.7 76.8 16

 17 LM113062003 Municipal securities 5.9 6.4 6.1 6.4 6.4 6.4 6.6 6.6 6.7 17

 18 FL114023005 Loans 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 59.0 18

 19 FL113065005 Mortgages 51.7 56.0 53.4 55.5 56.1 56.0 57.5 57.7 59.0 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 900.3 947.3 911.7 925.3 936.6 947.3 961.1 971.3 981.4 21

 22 FL113090005 Miscellaneous assets 3593.4 3852.1 3623.1 3714.2 3824.9 3852.1 3858.1 3874.4 3835.4 22

 23 FL113076005 Insurance receivables 129.0 136.0 130.0 132.5 135.8 136.0 138.9 141.8 147.0 23

 24 FL113092405 Equity investment in GSEs (4) 12.8 13.0 12.6 12.8 13.0 13.0 13.0 13.6 13.8 24

 25 FL113072003 PPP subsidies receivable 0.0 117.5 0.0 51.0 123.5 117.5 92.4 75.2 0.8 25

 26 FL113093005 Other 3451.7 3585.6 3480.5 3517.9 3552.7 3585.6 3613.8 3643.8 3673.8 26

 27 FL114190005 Liabilities 8787.3 9385.6 8980.5 9211.8 9339.2 9385.6 9495.9 9564.4 9608.5 27

 28 FL114123005 Loans 6136.5 6655.6 6294.2 6532.7 6625.9 6655.6 6715.0 6751.8 6759.0 28

 29 FL113168005 Depository institution loans n.e.c. 1481.2 1654.5 1569.2 1709.4 1716.8 1654.5 1650.6 1607.6 1549.1 29

 30 FL113169005 Other loans and advances 256.4 352.4 262.2 303.2 331.8 352.4 364.6 387.8 384.9 30

 31 FL113165005 Mortgages 4398.9 4648.6 4462.8 4520.1 4577.3 4648.6 4699.8 4756.4 4825.0 31

 32 FL113170005 Trade payables 641.5 615.6 644.2 606.1 619.8 615.6 639.6 649.5 663.4 32

 33 FL113178003 Taxes payable 164.0 177.1 169.1 175.5 177.5 177.1 181.8 179.9 178.9 33

 34 LM115114305 Foreign direct investment: intercompany debt 7.1 6.5 6.8 6.7 6.6 6.5 6.2 6.1 6.0 34

 35 FL113193003 Miscellaneous liabilities 1838.2 1930.8 1866.2 1890.9 1909.4 1930.8 1953.2 1977.2 2001.2 35

 36 FL112090005 Net worth 11992.4 12911.7 12096.4 12262.0 12508.4 12911.7 13204.0 13833.0 14475.4 36

 Memo:

 37 LM112090205 Proprietors’ net investment (5) 11886.7 12790.5 12012.6 12161.4 12400.6 12790.5 13076.7 13693.3 14327.8 37

 38 LM115114103 Foreign direct investment: equity 105.6 121.2 83.8 100.6 107.9 121.2 127.3 139.8 147.6 38

 Replacement-cost value of structures:

 39 FL115012665 Residential 3935.7 4118.5 3957.4 3961.1 4049.8 4118.5 4257.9 4429.5 4597.6 39

 40 FL115013665 Nonresidential 2366.3 2402.8 2386.4 2387.4 2396.9 2402.8 2421.2 2468.1 2519.4 40

 41 FL114104006 Debt/net worth (percent) (line 27/line 36) 51.17 51.55 52.03 53.28 52.97 51.55 50.86 48.81 46.69 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, December 9, 2021 141

R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FC152090005 Change in net worth (1) 12483.6 14102.2 -6228.2 7999.0 4325.8 8005.5 5290.3 6140.7 2362.3 1

 2 FU155060005 Net investment 2120.9 3236.4 730.0 1250.2 377.2 879.0 827.5 355.2 525.5 2

 3 FU155061005 Net physical investment 531.6 614.2 126.3 94.9 193.9 199.2 257.3 270.9 225.5 3

 4 FU155050005 Capital expenditures 2286.4 2453.7 577.9 549.8 652.9 673.2 730.3 759.4 741.3 4

 5 FU155012005 Residential 673.4 738.5 179.8 163.2 188.2 207.3 216.8 214.2 217.9 5

 6 FU165013005 Nonprofit nonresidential 213.7 217.1 54.3 46.7 58.2 58.0 59.1 59.6 60.4 6

 7 FU155111003 Consumer durable goods 1413.4 1512.5 347.4 343.5 410.1 411.5 458.0 489.4 466.9 7

 8 FU155420003 Nonproduced nonfinancial assets -14.0 -14.4 -3.5 -3.6 -3.6 -3.7 -3.7 -3.8 -3.8 8

 9 FU156300005 - Consumption of fixed capital 1754.8 1839.5 451.6 454.8 459.1 474.0 473.0 488.4 515.9 9

 10 FU156320005 Residential 436.8 459.2 112.1 113.1 115.8 118.3 121.9 126.4 130.9 10

 11 FU166330005 Nonprofit nonresidential 163.5 171.8 41.9 42.3 43.3 44.3 45.6 47.3 49.0 11

 12 FU156300103 Consumer durable goods 1154.5 1208.5 297.6 299.5 300.0 311.4 305.5 314.8 336.0 12

 13 FU155000005 Net lending (+) or net borrowing (-) 1589.2 2622.2 603.7 1155.3 183.3 679.9 570.2 84.3 300.1 13

 14 FU154090005 Net acquisition of financial assets 2110.4 3243.9 667.0 1163.7 449.7 963.5 770.4 426.6 606.0 14

 15 FU154190005 - Net increase in liabilities 521.2 621.7 63.3 8.5 266.4 283.6 200.1 342.3 305.9 15

 16 FR158000005 Net holding gains 9808.1 10607.1 -6769.3 6773.2 3877.5 6725.7 4249.8 5823.6 1812.8 16

 17 FR152010085 Nonfinancial assets 1486.8 2977.1 577.7 639.7 767.1 992.7 1168.0 1662.9 1537.7 17

 18 FR155035005 Real estate 1527.4 2921.0 594.0 674.2 662.1 990.6 1133.9 1419.6 1378.2 18

 19 FR165015205 Equipment (2) -0.9 3.3 3.7 3.9 -2.2 -2.0 1.7 -4.5 5.1 19

 20 FR165013765 Intellectual property products (2) 1.4 6.3 1.6 3.6 0.2 1.0 -1.2 0.4 0.1 20

 21 FR155111005 Consumer durable goods (2) -41.1 46.5 -21.6 -42.0 107.0 3.1 33.6 247.3 154.3 21

 22 FR154090005 Financial assets 8321.3 7630.0 -7347.0 6133.6 3110.4 5733.0 3081.8 4160.8 275.2 22

 23 FR154022005 Debt securities 207.0 199.8 123.5 69.2 -1.0 8.1 -155.8 48.9 -36.5 23

 24 FR153064105 Corporate equities 4345.9 4160.0 -4622.7 3524.8 1847.0 3410.8 2230.4 2267.6 -160.3 24

 25 FR153064205 Mutual fund shares 1499.4 1168.2 -1579.8 1227.0 534.3 986.6 331.9 595.4 -80.1 25

 26 FR153040005 Life insurance reserves 55.5 41.5 -46.9 39.8 16.3 32.4 7.6 25.4 -2.6 26

 27 FR153050005 Pension entitlements 1502.2 1159.3 -1402.7 1136.5 498.2 927.3 306.0 633.0 -65.2 27

 28 FR152090205 Equity in noncorporate business 707.7 900.0 180.0 135.7 215.8 368.5 361.0 590.7 619.9 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 3.6 1.2 1.6 0.5 -0.2 -0.7 0.7 -0.2 0.1 30

 31 FV158090005 Other volume changes (3) 554.6 258.6 -188.9 -24.4 71.2 400.7 213.0 -38.2 23.9 31

 Memo:

 32 FL152090005 Net worth outstanding (4) 116813.9 130916.1 110585.7 118584.7 122910.6 130916.1 136206.3 142347.1 144709.4 32

 33 FA156012005 Disposable personal income 16219.3 17432.0 16600.6 18249.6 17595.7 17282.2 19455.3 18137.4 18183.5 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, December 9, 2021

R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FC102090005 Change in net worth (1) 2348.5 1526.5 -259.6 406.4 539.0 840.7 400.5 931.4 1089.1 1

 2 FU105060005 Net investment 737.0 343.1 165.3 -162.8 412.1 -71.5 101.7 187.9 371.4 2

 3 FU105061005 Net physical investment 543.0 274.7 95.9 -39.3 128.8 89.2 158.2 122.5 170.4 3

 4 FU105050005 Capital expenditures 2184.6 1960.9 540.5 396.4 533.8 490.2 532.2 487.3 566.6 4

 5 FU105019005 Fixed investment 2111.4 2009.4 519.6 479.6 498.4 511.9 532.3 546.9 554.7 5

 6 FU105020005 Inventory change + IVA 73.3 -48.3 21.4 -82.5 33.8 -21.0 -4.0 -58.9 8.2 6

 7 FU105420005 Nonproduced nonfinancial assets -0.1 -0.2 -0.6 -0.7 1.7 -0.7 3.8 -0.7 3.8 7

 8 FU106300005 - Consumption of fixed capital 1641.7 1704.4 421.3 424.4 427.0 431.6 436.3 445.1 456.4 8

 9 FU106320005 Residential 4.1 4.3 1.2 1.0 1.0 1.2 1.2 1.2 1.2 9

 10 FU106330005 Nonresidential 1637.6 1700.0 420.1 423.4 426.0 430.5 435.2 443.9 455.3 10

 11 FU105020601 - Inventory valuation adjustment -0.0 -18.2 23.3 11.3 -22.0 -30.7 -62.4 -80.3 -60.2 11

 12 FU105000005 Net lending (+) or net borrowing (-) 436.0 57.4 133.7 -141.5 231.8 -166.6 -104.8 112.9 305.8 12

 13 FU104090005 Net acquisition of financial assets 2396.4 1429.6 681.9 171.9 442.3 133.6 299.8 230.9 555.9 13

 14 FU104194005 - Net increase in liabilities and equity 1960.5 1372.2 548.3 313.4 210.5 300.1 404.6 118.0 250.1 14

 15 FU103164103 Net corporate equity issues -458.1 -168.9 -96.2 -14.5 10.5 -68.7 -28.9 -131.6 -227.2 15

 16 FU103192105 Foreign direct investment: equity 216.1 179.9 31.9 32.5 41.0 74.5 77.2 84.2 122.4 16

 17 FR108000005 Net holding gains 1572.9 1226.4 -414.4 575.7 149.7 915.4 316.3 759.0 735.0 17

 18 FR102010005 Nonfinancial assets 999.9 822.1 90.2 168.4 -51.3 614.9 162.3 517.7 731.8 18

 19 FR105035005 Real estate 958.2 637.6 86.4 71.5 -54.5 534.3 70.3 450.1 664.4 19

 20 FR105015205 Equipment (2) 8.2 24.0 25.8 16.9 -6.6 -12.2 29.3 -44.3 60.0 20

 21 FR105013765 Intellectual property products (2) 35.1 107.5 20.6 41.1 16.8 29.0 2.9 15.6 14.1 21

 22 FR105020015 Inventories (2,3) -1.6 53.0 -42.7 38.9 -7.0 63.8 59.8 96.2 -6.8 22

 23 FR108080095 Financial assets 573.0 404.3 -504.5 407.3 201.0 300.5 154.1 241.3 3.2 23

 24 FR104022005 Debt securities 4.1 1.9 5.6 -0.7 -1.3 -1.7 -5.0 1.3 -0.8 24

 25 FR103064103 Corporate equities 517.7 363.0 -457.9 366.0 183.8 271.1 147.4 218.1 6.7 25

 26 FR103064203 Mutual fund shares 51.2 39.4 -52.2 42.1 18.5 31.0 11.7 21.9 -2.7 26

 27 FR103092005 Direct investment abroad 933.4 293.7 -1507.4 752.1 248.8 800.1 309.7 420.0 -96.1 27

 28 FR103090005 Miscellaneous assets -933.4 -293.7 1507.4 -752.1 -248.8 -800.1 -309.7 -420.0 96.1 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 7.8 -2.1 0.6 -5.0 4.6 -2.2 -15.9 -1.0 0.0 30

 31 FR573073005 Claims of pension fund on sponsor -434.6 -316.0 328.6 -305.1 -118.3 -221.3 -36.8 -160.9 19.9 31

 32 FR103193005 Miscellaneous liabilities 426.8 318.1 -329.2 310.1 113.7 223.4 52.7 161.9 -19.9 32

 33 FV108090005 Other volume changes (4) 38.7 -43.0 -10.5 -6.6 -22.8 -3.1 -17.5 -15.6 -17.2 33

 Memo:

 34 FL102090005 Net worth outstanding (5) 24321.9 25848.4 24062.3 24468.7 25007.7 25848.4 26249.0 27180.3 28269.5 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, December 9, 2021 143

R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FC112090005 Change in net worth (1) 747.3 919.3 104.1 165.6 246.4 403.3 292.3 629.0 642.4 1

 2 FU115440005 Net capital transfers paid 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -5.2 2

 3 FU115060005 Net investment 12.0 4.6 -54.3 13.6 23.4 22.0 -74.9 27.5 33.1 3

 4 FU115061005 Net physical investment 84.3 59.5 -35.1 25.2 31.9 37.6 -45.0 40.9 45.0 4

 5 FU115050005 Capital expenditures 436.0 423.7 54.6 115.6 123.3 130.2 49.3 137.9 144.9 5

 6 FU115019005 Fixed investment 435.7 434.9 56.9 125.9 123.3 128.7 52.8 144.1 148.2 6

 7 FU115020005 Change in inventories 0.3 -11.2 -2.3 -10.3 -0.1 1.5 -3.5 -6.3 -3.2 7

 8 FU116300005 - Consumption of fixed capital 351.7 364.1 89.8 90.3 91.4 92.6 94.4 96.9 100.0 8

 9 FU116320005 Residential 104.0 108.3 27.7 27.8 26.7 26.1 24.8 24.2 24.1 9

 10 FU116330005 Nonresidential 247.8 255.8 62.1 62.5 64.7 66.5 69.5 72.8 75.9 10

 11 FU115000005 Net lending (+) or net borrowing (-) -84.3 -59.5 35.1 -25.2 -31.9 -37.6 45.0 -40.9 -39.8 11

 12 FU114090005 Net acquisition of financial assets 331.5 543.9 174.2 219.9 118.9 30.9 80.8 55.2 27.7 12

 13 FU114194005 - Net increase in liabilities and equity 415.8 603.5 139.0 245.1 150.8 68.5 35.8 96.1 67.5 13

 14 FU112090205 Proprietor’s net investment (2) 12.7 3.2 -54.3 12.9 23.2 21.3 -74.8 25.7 26.7 14

 15 FU115114103 Foreign direct investment: equity -0.7 1.4 0.0 0.7 0.1 0.6 -0.1 1.8 1.3 15

 16 FR118000005 Net holding gains 734.4 914.2 158.2 151.9 222.9 381.2 367.2 601.4 621.3 16

 17 FR112010005 Nonfinancial assets 731.2 910.6 152.1 152.3 223.6 382.6 371.5 600.2 621.9 17

 18 FR115035023 Residential real estate 407.0 622.3 93.3 111.8 204.4 212.7 277.5 429.3 375.7 18

 19 FR115035035 Nonresidential real estate 299.7 241.2 40.6 35.2 -2.6 168.0 23.8 138.1 200.5 19

 20 FR115012265 Residential equipment (3) -2.3 6.8 0.4 1.2 3.0 2.2 0.3 2.2 3.1 20

 21 FR115013265 Nonresidential equipment (3) 26.5 33.3 27.2 3.7 11.3 -8.9 57.3 19.9 42.6 21

 22 FR115013765 Intellectual property products (3) 3.6 9.2 2.0 0.7 2.4 4.1 -2.8 -2.3 -3.7 22

 23 FR115020005 Inventories (3) -3.2 -2.2 -11.5 -0.4 5.0 4.6 15.4 13.1 3.7 23

 24 FR114022005 Financial assets (debt securities) 3.2 3.5 6.1 -0.5 -0.6 -1.4 -4.5 1.1 -0.6 24

 Less: liabilities (foreign direct

 25 FR115114305 investment: intercompany debt) 0.1 -0.0 0.0 -0.1 0.1 -0.0 -0.3 -0.0 0.0 25

 26 FV118090005 Other volume changes (4) 1.0 0.5 0.2 0.1 0.1 0.1 0.1 0.1 -6.9 26

 Memo:

 27 LM112090005 Net worth outstanding (5) 11992.4 12911.7 12096.4 12262.0 12508.4 12911.7 13204.0 13833.0 14475.4 27

(1) Sum of net capital transfers paid (line 2), net investment (line 3), net holding gains (line 16), and other volume changes (line 26).

(2) Shown on table F.104, line 35.

(3) Valued at current cost.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.104, line 36.
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B.101.h Balance Sheet of Households (1)

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

2012 2013 2014 2015 2016 2017 2018 2019 2020

 

 1 FL192000005 Assets 80970.1 89287.4 95087.6 98086.1 103219.2 111913.9 113186.5 125594.1 139801.3 1

 2 LM192010005 Nonfinancial assets 23310.4 25130.2 26571.0 28248.1 30137.5 32138.7 34020.2 35723.6 39070.1 2

 3 LM155035015 Real estate (2) 18582.9 20350.6 21711.6 23241.1 24975.0 26839.1 28507.5 29993.1 32989.1 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 57659.6 64157.2 68516.6 69838.0 73081.7 79775.2 79166.3 89870.5 100731.2 5

 6 FL193020005 Checkable deposits and currency 799.9 983.0 964.7 1060.8 959.6 1126.3 1042.3 1002.7 2710.0 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 10092.9 7

 8 FL193034005 Money market fund shares 1534.8 1533.4 1498.8 1476.5 1472.6 1530.8 1702.3 2096.7 2407.2 8

 9 LM194022005 Debt securities 4765.9 3672.9 3801.0 3719.5 3443.6 3414.9 4138.2 4440.5 4222.3 9

10 LM193061005 U.S. government and municipal securities 3347.3 2809.9 2864.1 3322.4 3287.3 3337.9 4037.5 4270.5 3912.2 10

11 LM193063005 Corporate and foreign bonds 1418.6 863.1 937.0 397.1 156.3 77.0 100.7 170.0 310.2 11

12 FL194023005 Loans 882.1 939.1 982.7 917.1 907.5 849.8 841.9 864.8 987.2 12

13 FL153067005 Other loans and advances (4) 758.1 818.2 870.3 819.2 815.3 760.4 758.4 783.9 904.8 13

14 FL193065005 Mortgages 124.1 120.9 112.4 97.9 92.3 89.3 83.5 80.9 82.4 14

15 LM193064005 Corporate equities and mutual fund shares 13704.3 17257.9 19420.4 19180.3 20813.2 24679.5 22419.3 28881.5 34432.8 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 27994.2 29798.3 17

18 LM152090205 Equity in noncorporate business (6) 7324.9 8302.1 8971.7 9630.2 9967.8 10801.3 11243.6 11970.2 12880.8 18

19 FL193090005 Miscellaneous assets 971.5 1024.9 1042.8 1082.1 1138.8 1193.0 1245.1 1286.9 1332.7 19

20 FL194190005 Liabilities 13175.8 13417.8 13528.7 13700.6 14095.3 14628.8 15096.3 15595.0 16215.9 20

21 FL194123005 Loans 13150.1 13389.1 13498.8 13668.9 14064.0 14595.7 15061.3 15558.5 16179.3 21

22 FL153165105 One-to-four-family residential mortgages (7) 9537.1 9437.0 9387.3 9492.8 9658.8 9928.8 10203.9 10481.2 10919.7 22

23 FL153166000 Consumer credit 2912.9 3090.5 3309.5 3400.2 3636.4 3830.8 4007.0 4192.2 4184.9 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 551.0 700.2 629.5 558.7 545.3 610.5 580.0 603.9 772.4 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 67794.2 75869.6 81558.9 84385.6 89123.9 97285.1 98090.1 109999.1 123585.4 27

 Memo:

 Reconciliation with household and

 nonprofit organization sector net worth: (8)

28 FL152090005 Household and nonprofit net worth (B.101, line 40) 71903.7 80613.9 86631.4 89654.2 94758.2 103478.1 104330.4 116813.9 130916.1 28

29 FL152000005 Household and nonprofit total assets (B.101, line 1) 85898.4 94838.3 101002.2 104218.4 109740.9 119014.1 120330.2 133319.1 148039.4 29

30 FL192000005 Household total assets (B.101.h, line 1) 80970.1 89287.4 95087.6 98086.1 103219.2 111913.9 113186.5 125594.1 139801.3 30

31 FL162000005 Nonprofit total assets (B.101.n, line 1) 6129.4 6870.3 7289.7 7562.4 8063.1 8838.1 8840.1 9466.9 10027.2 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) 13994.6 14224.4 14370.8 14564.3 14982.7 15536.0 15999.8 16505.1 17123.3 34

35 FL194190005 Household liabilities (B.101.h, line 20) 13175.8 13417.8 13528.7 13700.6 14095.3 14628.8 15096.3 15595.0 16215.9 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) 770.5 803.0 881.2 944.9 945.9 1018.9 1008.9 1030.4 1058.1 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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Z.1, December 9, 2021 145

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 6129.4 6870.3 7289.7 7562.4 8063.1 8838.1 8840.1 9466.9 10027.2 1

 2 FL162010005 Nonfinancial assets 2542.1 2873.6 3084.2 3334.1 3529.8 3789.3 3903.6 4208.8 4452.2 2

 3 FL165035005 Real estate (2) 2081.1 2382.0 2567.7 2792.8 2961.0 3194.7 3278.2 3555.3 3760.5 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) 248.5 235.0 228.4 220.2 217.2 218.4 216.1 212.8 202.5 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) 770.5 803.0 881.2 944.9 945.9 1018.9 1008.9 1030.4 1058.1 29

30 FL162090005 Net worth 4540.1 5260.7 5566.4 5753.8 6229.7 6912.0 6927.7 7526.4 8061.7 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, December 9, 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL152000005 Assets 133319.1 148039.4 127156.1 135161.7 139751.8 148039.4 153528.6 160010.6 162678.0 1

 2 FL152010005 Nonfinancial assets 39932.4 43522.3 40635.9 41369.8 42331.4 43522.3 44947.6 46881.7 48621.0 2

 3 FL154090005 Financial assets 93386.7 104517.1 86520.2 93791.9 97420.4 104517.1 108581.1 113128.9 114057.0 3

 4 FL154000025 Deposits (1) 13259.4 15786.2 13882.3 14945.7 15155.9 15786.2 16879.2 17113.7 17228.8 4

 5 LM154022375 Debt securities at market value 10158.1 10517.2 9732.0 9802.3 9907.5 10517.2 9931.2 9810.9 9798.9 5

 6 LM154022005 Directly held 4770.1 4564.4 4623.7 4374.3 4177.0 4564.4 3941.1 3619.1 3798.8 6

 7 LM154022075 Indirectly held 5387.9 5952.9 5108.3 5428.0 5730.5 5952.9 5990.1 6191.8 6000.1 7

 8 LM544022053 Life insurance companies 469.9 492.1 432.5 455.0 475.1 492.1 488.0 502.8 492.2 8

 9 LM574022075 Private pension funds (2) 1626.9 1842.4 1595.4 1696.0 1780.1 1842.4 1829.7 1894.1 1896.7 9

10 LM344022025 Federal govt. retirement funds (2) 283.9 331.8 299.7 313.3 324.3 331.8 328.8 331.7 152.3 10

11 LM223064223 State and local govt. retirement funds (2) 63.4 70.0 58.3 63.0 66.5 70.0 70.2 72.2 71.8 11

12 LM654022055 Mutual funds 2943.8 3216.6 2722.3 2900.6 3084.4 3216.6 3273.4 3391.0 3387.1 12

13 FL154023005 Loans 1147.9 1264.4 1305.1 1278.2 1240.8 1264.4 1275.4 1289.9 1338.6 13

14 LM153064475 Equity shares at market value 34132.4 40353.1 26526.5 32321.1 35215.4 40353.1 43453.0 46997.3 46678.9 14

15 LM153064105 Directly held 20989.2 25634.1 16420.2 20107.1 22197.5 25634.1 28033.6 30547.3 30402.0 15

16 LM153064175 Indirectly held 13143.2 14719.0 10106.3 12214.0 13017.9 14719.0 15419.4 16450.1 16276.9 16

17 LM543064153 Life insurance companies 1488.7 1633.1 1161.7 1380.3 1453.8 1633.1 1671.7 1759.2 1714.4 17

18 LM573064175 Private pension funds (2) 4419.0 4937.1 3415.2 4110.9 4379.0 4937.1 5167.6 5511.4 5450.4 18

19 LM343064125 Federal govt. retirement funds (2) 355.3 402.8 265.2 328.9 351.2 402.8 432.7 470.4 464.6 19

20 LM223064213 State and local govt. retirement funds (2) 145.0 165.0 110.4 135.9 144.2 165.0 171.0 181.7 179.6 20

21 LM653064155 Mutual funds 6735.2 7581.0 5153.9 6258.0 6689.7 7581.0 7976.5 8527.3 8468.0 21

22 FL153099475 Other 34688.8 36596.2 35074.3 35444.6 35900.8 36596.2 37042.3 37917.1 39011.8 22

23 FL154190005 Liabilities 16505.1 17123.3 16570.4 16577.0 16841.2 17123.3 17322.3 17663.6 17968.6 23

24 FL152090005 Net worth 116813.9 130916.1 110585.7 118584.7 122910.6 130916.1 136206.3 142347.1 144709.4 24

 Memo:

 Debt securities (line 5) as a percent of

25 FL154022376 Total assets (line 1) 7.62 7.10 7.65 7.25 7.09 7.10 6.47 6.13 6.02 25

26 FL154022386 Financial assets (line 3) 10.88 10.06 11.25 10.45 10.17 10.06 9.15 8.67 8.59 26

 Equity shares (line 14) as a percent of

27 FL153064476 Total assets (line 1) 25.60 27.26 20.86 23.91 25.20 27.26 28.30 29.37 28.69 27

28 FL153064486 Financial assets (line 3) 36.55 38.61 30.66 34.46 36.15 38.61 40.02 41.54 40.93 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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Z.1, December 9, 2021 147

B.101.f Balance Sheet of Domestic Hedge Funds (1)

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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL622000623 Assets 2428.7 2411.2 2225.3 2373.5 2433.0 2411.2 2473.3 2582.7 ND 1

 2 FL625035003 Nonfinancial assets (real estate) 92.2 95.3 87.5 87.3 87.9 95.3 106.9 113.7 ND 2

 3 FL624090005 Financial assets 2336.6 2315.9 2137.8 2286.3 2345.1 2315.9 2366.4 2469.0 ND 3

 4 FL623091003 Foreign currency 21.2 21.7 20.0 22.7 20.7 21.7 22.7 21.5 ND 4

 5 FL623039003 Deposits 39.3 36.4 44.3 38.1 36.3 36.4 37.4 40.4 ND 5

 6 FL623039013 Other cash and cash equivalents 104.3 91.6 104.8 93.8 85.1 91.6 96.2 137.9 ND 6

 7 FL623034003 Money market fund shares 86.1 80.4 96.4 91.5 83.5 80.4 81.4 81.6 ND 7

 8 FL622051003 Security repurchase agreements 87.4 72.1 93.4 93.6 99.6 72.1 77.2 81.5 ND 8

 9 LM624022005 Debt securities 730.5 619.2 716.8 720.2 739.3 619.2 595.5 602.3 ND 9

10 LM623061103 Treasury securities 234.8 150.2 212.9 189.8 196.7 150.2 137.8 144.7 ND 10

11 LM623061703 Agency- and GSE-backed securities 13.5 12.0 16.9 14.5 14.2 12.0 11.3 8.9 ND 11

12 LM623062003 Municipal securities 13.2 13.3 14.0 14.4 13.3 13.3 13.6 13.9 ND 12

13 LM623063003 Corporate and foreign bonds 469.1 443.6 473.0 501.5 515.0 443.6 432.9 434.8 ND 13

14 FL623069005 Loans 126.3 144.0 124.0 140.2 148.1 144.0 152.9 151.6 ND 14

15 FL623069503 Leveraged loans 85.3 100.7 85.1 92.6 100.9 100.7 107.4 108.1 ND 15

16 FL623069003 Other loans 40.9 43.2 38.9 47.6 47.2 43.2 45.6 43.5 ND 16

17 LM623064103 Corporate equities 929.3 1018.6 705.6 851.1 912.6 1018.6 1070.5 1134.3 ND 17

18 LM623064203 Mutual fund shares 11.0 13.0 8.1 17.9 16.3 13.0 13.2 12.9 ND 18

19 FL623093005 Miscellaneous assets 201.2 218.9 224.5 217.0 203.6 218.9 219.5 205.2 ND 19

20 FL624190005 Liabilities 770.0 702.8 724.2 735.0 732.0 702.8 711.0 754.8 ND 20

21 FL622151005 Security repurchase agreements 85.2 71.9 100.0 83.9 95.2 71.9 63.3 62.6 ND 21

22 FL622151013 Domestic institutions 56.4 46.6 65.9 48.2 53.1 46.6 39.3 41.0 ND 22

23 FL622151063 Foreign institutions 28.8 25.3 34.1 35.8 42.1 25.3 24.0 21.7 ND 23

24 FL624123005 Loans 449.2 479.6 372.2 437.8 448.9 479.6 510.5 628.1 ND 24

25 FL624123035 Secured borrowing via prime brokerage 351.3 388.7 265.2 336.3 348.7 388.7 413.8 517.3 ND 25

26 FL623167003 From domestic institutions 306.7 344.4 233.5 296.8 304.1 344.4 351.8 451.2 ND 26

27 FL623169533 From foreign institutions 44.7 44.4 31.7 39.5 44.6 44.4 62.0 66.1 ND 27

28 FL624123015 Other secured borowing 87.2 83.2 95.8 93.2 92.8 83.2 89.5 102.3 ND 28

29 FL623168013 From domestic institutions 58.4 64.2 64.8 59.3 59.9 64.2 67.8 75.7 ND 29

30 FL623169513 From foreign institutions 28.7 19.0 31.0 33.9 32.9 19.0 21.8 26.6 ND 30

31 FL623168023 Unsecured borrowing 10.7 7.6 11.2 8.2 7.4 7.6 7.2 8.5 ND 31

32 FL623193005 Miscellaneous liabilities 235.5 151.4 251.9 213.3 187.9 151.4 137.1 64.1 ND 32

 Memo:

33 FL622000003 Total net assets 1658.8 1708.4 1501.1 1638.5 1701.1 1708.4 1762.3 1827.9 ND 33

34 FL623098003 Derivatives (2) 1242.1 956.9 1073.0 1008.2 1133.1 956.9 1036.5 1077.8 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA885019005 Gross fixed investment (by type) 4492.6 4478.9 4545.6 4231.6 4476.1 4662.4 4813.1 4891.9 4963.5 1

 2 FA885019065 Structures 1826.9 1853.5 1922.3 1744.4 1833.0 1914.3 1980.2 1987.1 2012.1 2

 3 FA885019025 Equipment 1364.4 1261.3 1274.3 1156.4 1273.7 1340.9 1390.4 1417.5 1429.0 3

 4 FA885013075 Intellectual Property Products 1258.7 1318.9 1303.9 1285.6 1324.2 1362.0 1397.2 1442.1 1477.3 4

 5 FA885013035 Software 490.3 518.4 514.3 508.9 518.3 532.1 552.5 572.0 585.9 5

 6 FA885013045 Research and development 675.8 713.1 697.4 688.8 721.8 744.3 758.0 779.9 796.5 6

 7 FA835013051 Entertainment, literary, and artistic originals 92.7 87.4 92.2 87.9 84.1 85.6 86.7 90.2 94.9 7

 8 FA105013893 Miscellaneous adjustments (2) 42.4 45.0 45.0 45.0 45.0 45.0 45.0 45.0 45.0 8

 9 FA885019005 Gross fixed investment (by sector) 4492.6 4478.9 4545.6 4231.6 4476.1 4662.4 4813.1 4891.9 4963.5 9

10 FA155019005 Households and nonprofit organizations 887.1 955.6 936.2 839.4 985.6 1061.3 1103.9 1094.9 1113.1 10

11 FA105019085 Nonfinancial corporate business (3) 2118.5 2012.3 2090.8 1950.6 1970.8 2037.0 2127.4 2202.3 2240.4 11

12 FA115019085 Nonfinancial noncorporate business 435.7 434.9 440.8 401.7 438.9 458.2 473.1 479.3 484.1 12

13 FA315019001 Federal government 317.5 340.3 330.0 337.4 345.7 348.2 348.7 355.1 365.6 13

14 FA215019001 State and local governments 422.5 441.2 442.7 437.3 436.6 448.3 442.2 437.3 442.0 14

15 FA795013005 Domestic financial sectors (4) 311.4 294.6 305.1 265.2 298.5 309.4 317.8 322.8 318.4 15

16 FA715013005 Monetary authority 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 0.8 16

17 FA705013005 Private depository institutions 79.9 82.7 89.2 63.3 87.2 91.1 91.5 90.4 82.3 17

18 FA765013005 U.S.-chartered depository institutions 61.1 62.3 68.2 43.8 66.9 70.3 70.0 68.2 59.8 18

19 FA755013005 Foreign banking offices in U.S. 8.9 9.8 10.1 9.4 9.7 10.0 10.3 10.6 10.8 19

20 FA745013005 Banks in U.S.-affiliated areas 0.3 0.3 0.3 0.2 0.3 0.3 0.3 0.3 0.3 20

21 FA475013005 Credit unions 9.7 10.4 10.7 9.9 10.3 10.6 11.0 11.2 11.4 21

22 FA515013005 Property-casualty insurance companies 30.6 32.1 32.4 31.1 32.1 33.0 34.3 35.3 36.1 22

23 FA545013005 Life insurance companies 23.5 24.8 24.9 24.0 24.8 25.6 26.5 27.3 27.9 23

24 FA575013005 Private pension funds 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 24

25 FA225013005 State and local government employee retirement funds 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 25

26 FA405013005 Government-sponsored enterprises 0.8 0.4 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 82.0 58.4 59.3 53.7 58.9 61.8 64.2 65.7 66.2 28

29 FA125013005 REITs (3) 12.2 12.2 13.5 11.8 11.8 11.8 12.1 12.3 12.5 29

30 FA665013005 Security brokers and dealers 40.0 40.9 42.2 39.5 40.5 41.4 42.9 44.1 44.8 30

31 FA735013005 Holding companies 41.3 41.7 42.0 40.2 41.7 42.9 44.6 45.9 46.8 31

 Memo:

32 FA125012063 REITs residential structures (3) 7.1 2.8 5.9 -0.7 2.8 3.3 1.9 11.2 6.6 32

33 FA155111003 Consumer durable goods (5) 1413.4 1512.5 1389.4 1373.8 1640.5 1646.0 1831.9 1957.6 1867.6 33

34 FA145020005 Inventories (6) 73.6 -59.6 -20.6 -289.9 15.0 57.3 -94.2 -174.3 -65.3 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA886300095 Consumption of fixed capital (by type) 3435.6 3575.9 3522.3 3550.9 3591.0 3639.4 3696.0 3787.9 3895.2 1

 2 FA886300065 Structures 1242.3 1281.0 1263.1 1272.1 1286.3 1302.6 1323.2 1357.3 1396.3 2

 3 FA886300025 Equipment 1128.0 1158.0 1140.5 1150.0 1162.8 1178.7 1197.0 1226.7 1261.7 3

 4 FA886330075 Intellectual Property Products 1065.2 1136.8 1118.6 1128.7 1141.8 1158.0 1175.6 1203.7 1237.0 4

 5 FA886330035 Software 427.0 457.5 450.1 454.2 459.5 466.1 473.4 485.1 498.9 5

 6 FA886330045 Research and development 557.3 595.8 586.3 591.6 598.5 606.9 615.9 630.1 646.9 6

 7 FA836330053 Entertainment, literary, and artistic originals 80.8 83.5 82.2 82.9 83.8 85.0 86.3 88.5 91.2 7

 8 FA886300095 Consumption of fixed capital (by sector) 3435.6 3575.9 3522.3 3550.9 3591.0 3639.4 3696.0 3787.9 3895.2 8

 9 FA156300003 Households and nonprofit organizations 600.3 631.0 615.9 621.5 636.2 650.4 670.1 694.4 719.5 9

10 FA106300003 Nonfinancial corporate business (1) 1644.8 1707.6 1688.0 1701.2 1711.6 1729.6 1748.4 1783.7 1829.2 10

11 FA116300001 Nonfinancial noncorporate business 351.7 364.1 359.0 361.4 365.5 370.6 377.4 387.8 399.8 11

12 FA316300001 Federal government 293.3 303.5 298.2 301.6 305.1 309.2 312.7 317.1 322.5 12

13 FA216300001 State and local governments 293.7 302.8 299.6 300.3 304.5 306.9 312.0 320.7 328.9 13

14 FA796300081 Domestic financial sectors (2) 251.8 266.8 261.6 265.0 268.1 272.7 275.3 284.1 295.4 14

15 FA716330005 Monetary authority 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.9 0.9 15

16 FA706330005 Private depository institutions 50.2 58.3 57.1 57.8 58.6 59.7 60.5 62.7 65.6 16

17 FA766330005 U.S.-chartered depository institutions 38.7 44.2 43.3 43.8 44.4 45.2 45.9 47.7 50.0 17

18 FA756330005 Foreign banking offices in U.S. 5.4 6.8 6.6 6.7 6.8 6.9 7.0 7.2 7.5 18

19 FA746330005 Banks in U.S.-affiliated areas 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 19

20 FA476330005 Credit unions 5.9 7.2 7.0 7.1 7.2 7.3 7.4 7.6 7.9 20

21 FA516330005 Property-casualty insurance companies 26.4 28.5 27.9 28.3 28.6 29.1 29.3 30.2 31.4 21

22 FA546330005 Life insurance companies 19.9 21.6 21.1 21.4 21.7 22.0 22.2 22.9 23.8 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 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.6 25

26 FA676330023 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 FA616330005 Finance companies 78.2 77.4 75.9 76.9 77.8 79.1 79.7 82.2 85.3 27

28 FA126330005 REITs (1) 7.3 7.6 7.5 7.6 7.7 7.8 7.9 8.1 8.4 28

29 FA666330005 Security brokers and dealers 26.7 29.2 28.6 29.0 29.3 29.8 30.1 31.0 32.2 29

30 FA736330005 Holding companies 40.8 42.3 41.4 42.0 42.5 43.2 43.5 44.9 46.6 30

 Memo:

31 FA156300103 Consumer durable goods (3) 1154.5 1208.5 1190.5 1197.9 1200.1 1245.5 1221.9 1259.3 1344.1 31

(1) Equity REIT residential structure consumption of fixed capital is included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the

 Financial Accounts, equity REIT residential structure consumption of fixed capital is included with the financial business sector.

(2) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(3) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household

 sector capital expenditures.
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F.4.f Net Fixed Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA885015005 Net fixed investment (by type) 1057.0 903.0 1023.3 680.7 885.0 1023.0 1117.1 1104.0 1068.3 1

 2 FA885019665 Structures 584.6 572.5 659.2 472.4 546.7 611.7 657.0 629.8 615.8 2

 3 FA885019265 Equipment 236.5 103.3 133.7 6.5 110.9 162.3 193.4 190.8 167.3 3

 4 FA885013765 Intellectual Property Products 193.6 182.2 185.3 156.9 182.4 204.0 221.6 238.3 240.3 4

 5 FA885013365 Software 63.3 60.9 64.2 54.7 58.8 66.0 79.2 86.9 87.0 5

 6 FA885013465 Research and development 118.4 117.3 111.2 97.2 123.3 137.4 142.1 149.8 149.6 6

 7 FA835013565 Entertainment, literary, and artistic originals 11.8 4.0 10.0 5.0 0.3 0.7 0.3 1.7 3.7 7

 8 FA105013893 Miscellaneous adjustments (1) 42.4 45.0 45.0 45.0 45.0 45.0 45.0 45.0 45.0 8

 9 FA885015005 Net fixed investment (by sector) 1057.0 903.0 1023.3 680.7 885.0 1023.0 1117.1 1104.0 1068.3 9

10 FA155015005 Households and nonprofit organizations 286.8 324.6 320.4 218.0 349.4 410.8 433.8 400.5 393.6 10

11 FA105015085 Nonfinancial corporate business (2) 473.7 304.7 402.8 249.4 259.1 307.4 379.0 418.6 411.2 11

12 FA115015005 Nonfinancial noncorporate business 83.9 70.8 81.7 40.4 73.4 87.6 95.7 91.6 84.3 12

13 FA315015005 Federal government 24.2 36.8 31.8 35.8 40.6 39.0 35.9 38.0 43.2 13

14 FA215015005 State and local governments 128.8 138.4 143.1 137.0 132.1 141.4 130.2 116.7 113.1 14

15 FA795015085 Domestic financial sectors (3) 59.6 27.7 43.5 0.2 30.4 36.8 42.5 38.7 22.9 15

16 FA715013865 Monetary authority -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

17 FA705013865 Private depository institutions 29.7 24.4 32.0 5.5 28.6 31.5 31.1 27.6 16.7 17

18 FA765013865 U.S.-chartered depository institutions 22.4 18.1 24.9 -0.0 22.6 25.1 24.0 20.5 9.8 18

19 FA755013865 Foreign banking offices in U.S. 3.4 3.0 3.4 2.6 2.9 3.1 3.4 3.4 3.3 19

20 FA745013865 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 20

21 FA475013865 Credit unions 3.7 3.2 3.6 2.8 3.1 3.2 3.6 3.6 3.5 21

22 FA515013865 Property-casualty insurance companies 4.2 3.7 4.4 2.8 3.5 4.0 5.0 5.1 4.7 22

23 FA545013865 Life insurance companies 3.6 3.2 3.8 2.6 3.1 3.5 4.3 4.4 4.1 23

24 FA575013865 Private pension funds -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 24

25 FA225013865 State and local government employee retirement funds -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 25

26 FA405013865 Government-sponsored enterprises 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 26

27 FA675013263 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FA615013865 Finance companies 3.8 -19.0 -16.6 -23.2 -18.9 -17.2 -15.5 -16.5 -19.1 28

29 FA125013865 REITs (2) 4.8 4.6 6.1 4.2 4.1 4.0 4.3 4.2 4.1 29

30 FA665013865 Security brokers and dealers 13.2 11.7 13.6 10.4 11.1 11.6 12.8 13.1 12.7 30

31 FA735013865 Holding companies 0.5 -0.6 0.6 -1.7 -0.8 -0.2 1.0 1.1 0.2 31

 Memo:

32 FA125012665 REITs residential structures (2) 3.9 -0.4 3.1 -4.1 -0.9 0.3 -1.2 8.0 3.0 32

33 FA155111005 Consumer durable goods (4) 258.9 304.0 198.9 175.9 440.5 400.6 610.0 698.3 523.5 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

2019 2020 2020 2021

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL885019865 Net stocks (by type) 65354.2 68069.7 65995.0 66268.0 67271.1 68069.7 69544.7 71446.5 73447.3 1

 2 FL885019665 Structures 52219.3 54388.6 52703.9 52834.3 53728.6 54388.6 55682.4 57468.5 59210.9 2

 3 FL885019265 Equipment 8340.0 8534.9 8419.7 8458.2 8494.4 8534.9 8658.9 8690.8 8863.6 3

 4 FL885013765 Intellectual Property Products 4794.9 5146.2 4871.4 4975.5 5048.0 5146.2 5203.4 5287.2 5372.8 4

 5 FL885013365 Software 893.2 949.9 905.0 919.4 931.2 949.9 952.3 975.3 996.0 5

 6 FL885013465 Research and development 3348.9 3636.2 3408.4 3489.4 3559.3 3636.2 3684.6 3739.0 3795.5 6

 7 FL835013565 Entertainment, literary, and artistic originals 552.8 560.1 558.0 566.7 557.5 560.1 566.4 572.9 581.2 7

 8 FL885019865 Net stocks (by sector) 65354.2 68069.7 65995.0 66268.0 67271.1 68069.7 69544.7 71446.5 73447.3 8

 9 FL155015015 Households and nonprofit organizations 21546.9 23001.8 21810.1 21965.8 22534.3 23001.8 23741.2 24651.6 25535.6 9

10 FL105015085 Nonfinancial corporate business (1) 18590.5 19002.9 18760.5 18831.4 18916.5 19002.9 19219.7 19507.4 19923.2 10

11 FL115015005 Nonfinancial noncorporate business 7482.9 7747.8 7538.1 7554.2 7661.8 7747.8 7938.5 8180.2 8439.4 11

12 FL315015005 Federal government 3603.7 3734.0 3629.3 3652.7 3694.0 3734.0 3784.9 3860.9 3931.8 12

13 FL215015005 State and local governments 12005.7 12412.8 12113.1 12113.4 12304.2 12412.8 12669.1 13023.2 13344.8 13

14 FL795013865 Domestic financial sectors (2) 2124.5 2170.4 2144.0 2150.5 2160.3 2170.4 2191.3 2223.4 2272.5 14

15 FL715013865 Monetary authority 10.7 10.8 10.8 10.8 10.8 10.8 10.8 11.0 11.2 15

16 FL705013865 Private depository institutions 488.2 516.5 497.3 502.8 509.6 516.5 526.1 539.8 557.1 16

17 FL765013865 U.S.-chartered depository institutions 367.2 382.1 372.4 375.0 378.5 382.1 389.2 399.3 412.1 17

18 FL755013865 Foreign banking offices in U.S. 57.1 64.4 59.2 60.8 62.6 64.4 65.7 67.4 69.6 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 1.8 19

20 FL475013865 Credit unions 62.2 68.2 64.0 65.3 66.7 68.2 69.5 71.3 73.6 20

21 FL515013865 Property-casualty insurance companies 165.9 170.7 167.6 168.4 169.5 170.7 172.4 175.7 179.9 21

22 FL545013865 Life insurance companies 136.9 141.7 138.4 139.3 140.5 141.7 143.2 146.1 149.6 22

23 FL575013865 Private pension funds 2.4 2.1 2.3 2.2 2.2 2.1 2.1 2.1 2.2 23

24 FL225013865 State and local government employee retirement funds 6.3 6.4 6.3 6.4 6.4 6.4 6.5 6.6 6.7 24

25 FL405013865 Government-sponsored enterprises 5.0 3.5 4.6 4.2 3.9 3.5 3.4 3.5 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 500.1 487.5 499.2 495.6 491.5 487.5 486.3 480.8 482.3 27

28 FL125013865 REITs (1) 182.0 188.2 184.4 185.4 186.9 188.2 191.0 195.6 201.5 28

29 FL665013865 Security brokers and dealers 215.5 229.3 219.9 222.7 225.9 229.3 233.5 239.8 247.5 29

30 FL735013865 Holding companies 411.5 413.8 413.2 412.8 413.2 413.8 416.0 422.4 431.0 30

 Memo:

31 FL125012665 REITs residential structures (1) 203.9 203.4 205.4 206.3 205.2 203.4 202.4 202.6 204.2 31

32 FL155111005 Consumer durable goods (3) 5730.5 6081.0 5758.7 5760.7 5977.8 6081.0 6267.1 6688.9 6974.1 32

33 FL145020005 Inventories (4) 2901.3 2910.8 2843.0 2777.5 2831.2 2910.8 3040.9 3165.4 3227.5 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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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) 141.8 -193.2 381.0 -377.5 585.4 19.9 655.8 -561.8 47

48 FA155000005 Households and nonprofit institutions serving households 686.1 1148.0 1129.1 353.9 798.1 1062.9 1589.2 2622.2 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 8.8 240.7 19.0 436.0 57.4 50

51 FA795000005 Financial business 157.2 6.7 97.1 151.1 261.2 155.9 89.9 84.4 51

52 FA315000005 Federal government -508.4 -732.8 -518.8 -677.0 -479.8 -975.1 -1112.4 -3246.1 52

53 FA215000005 State and local government -243.5 -223.0 -150.7 -147.4 -166.1 -163.4 -262.7 -20.1 53

 Addendum:

54 FA265000005 Rest of the world 342.6 240.6 331.7 404.6 342.5 239.2 296.9 486.3 54

 Total other volume changes

55 FV158090185 Households and nonprofit institutions serving households 1349.9 827.7 554.3 46.2 280.6 459.4 1456.6 611.2 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 -90.1 319.9 369.5 517.7 -155.1 57

58 FV798090185 Financial business 116.9 -168.1 212.3 205.2 -49.2 231.1 -409.5 123.7 58

59 FV318090185 Federal government 180.6 -51.4 122.5 64.9 110.1 2.7 -44.6 20.7 59

60 FV218090185 State and local government -710.9 -67.0 4.5 76.4 68.7 25.1 11.3 -57.3 60

61 FV268090185 Rest of the world 49.0 -203.9 -91.1 -81.6 -61.9 171.4 -89.6 -116.0 61

 Holding gains/losses

62 FR158200095 Households and nonprofit institutions serving households 6614.3 4268.1 1455.0 4084.7 7347.9 -788.6 9804.5 10606.0 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 -4475.4 -2165.8 1229.9 -1613.9 -4022.3 2271.6 -7491.0 -8258.3 64

65 FR798200005 Financial business -1673.1 -10.5 -322.0 -701.6 -551.8 168.1 -363.7 494.6 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 -24.3 383.5 842.4 240.9 948.0 748.6 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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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 6017.5 3022.8 5104.0 8719.9 852.2 12483.6 14102.2 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 -3994.3 -2021.9 1560.6 -1264.8 -3379.9 3232.0 -6473.3 -7969.1 71

72 FC792090095 Financial business -1559.1 -160.7 -139.5 -467.8 -665.2 482.6 -581.6 733.8 72

73 FC312090095 Federal government -441.2 -665.2 -491.7 -607.8 -340.2 -879.3 -1111.9 -3067.1 73

74 FC212090095 State and local government -112.5 100.2 -165.8 287.8 752.5 142.5 884.2 850.2 74

75 FC262090095 Rest of the world 769.0 1594.2 470.1 744.1 -487.8 1881.1 1469.6 2701.6 75

 Net worth

76 FL152090005 Households and nonprofit institutions serving households 80613.9 86631.4 89654.2 94758.2 103478.1 104330.4 116813.9 130916.1 76

77 FL112090095 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 77

78 FL102090095 Nonfinancial corporate business -8509.3 -10531.2 -8970.7 -10235.5 -13615.5 -10383.5 -16856.8 -24825.9 78

79 FL792090095 Financial business -380.5 -541.2 -680.7 -1148.5 -1813.7 -1331.1 -1912.7 -1179.0 79

80 FL312090095 Federal government -10992.7 -11657.9 -12149.6 -12757.3 -13097.5 -13976.8 -15088.8 -18155.9 80

81 FL212090095 State and local government 5116.5 5216.7 5050.9 5338.8 6091.2 6233.7 7117.9 7968.1 81

82 FL262090095 Rest of the world 5084.5 6678.7 7148.8 7892.9 7405.1 9286.1 10755.7 13457.4 82
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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 1004.0 1339.4 1466.0 802.3 1377.1 1541.7 2110.4 3243.9 40

41 FA154000005 Currency and deposits 364.4 430.5 655.9 586.0 365.9 352.7 489.8 2189.9 41

42 FA153020005 Currency and transferable deposits 193.9 -5.2 105.9 -78.7 177.5 -86.3 -45.8 1710.5 42

43 FA153030005 Time and savings deposits 167.9 442.0 563.8 670.3 175.7 436.2 536.6 471.6 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 -719.1 -84.2 199.8 -134.8 -91.7 825.9 271.9 -448.6 46

47 FA153061105 Treasury securities -181.9 -207.2 306.4 108.4 -63.4 601.7 174.1 -117.9 47

48 FA153061705 Agency- and GSE-backed securities (2) -117.2 124.9 197.8 -99.1 32.6 169.3 123.7 -328.5 48

49 FA153062005 Municipal securities -41.3 -45.9 -37.3 12.6 -38.0 1.6 -65.9 -32.8 49

50 FA153063005 Corporate and foreign bonds -378.7 44.0 -267.1 -156.6 -22.9 53.4 40.0 30.6 50

51 FA154023005 Loans 75.2 59.8 -69.5 -6.6 -63.1 -21.2 32.6 116.4 51

52 FA154041005 Short term 78.7 67.9 -54.7 -1.4 -59.8 -15.7 35.1 114.9 52

53 FA153065005 Long term (mortgages) -3.5 -8.2 -14.8 -5.2 -3.3 -5.5 -2.5 1.5 53

54 FA153081005 Equity and investment fund shares 677.1 500.1 186.0 -65.5 596.0 -4.5 812.6 722.9 54

55 FA153064105 Corporate equities 300.5 236.9 -26.9 73.9 129.3 -182.4 62.0 434.9 55

56 FA153064205 Mutual fund shares 231.4 219.4 97.5 54.3 308.7 19.1 320.9 -59.4 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 17.9 10.1 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 600.8 405.7 493.6 420.0 554.0 385.4 495.9 620.1 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 21.3 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) 524.7 338.0 407.1 321.5 480.8 283.8 437.5 480.2 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 317.9 191.4 336.9 448.5 579.0 478.8 521.2 621.7 67

68 FA163162003 Debt securities (municipals) -13.6 -6.6 -8.2 -3.0 1.2 -2.3 -3.3 -10.3 68

69 FA154123005 Loans 334.1 170.1 324.1 443.7 569.6 472.5 516.1 625.2 69

70 FA154141005 Short term 337.0 168.2 194.2 233.5 267.4 182.1 220.2 177.0 70

71 FA153166000 Consumer credit 177.6 219.1 233.5 236.2 194.3 172.7 185.2 -12.0 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 23.9 168.5 73

74 FA153165005 Long term (mortgages) -2.9 1.8 129.9 210.1 302.2 290.4 296.0 448.2 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) 686.1 1148.0 1129.1 353.9 798.1 1062.9 1589.2 2622.2 77

 Other changes in volume account

78 FV158090185 Total other volume changes 1349.9 827.7 554.3 46.2 280.6 459.4 1456.6 611.2 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 65.3 558.2 259.8 81

82 FU157005045 Less: Statistical discrepancy (lines 38-77) (5) -85.0 -383.1 -326.5 371.4 18.6 -160.9 -639.6 -47.4 82

 Revaluation account

83 FR152010085 Nonfinancial assets 1860.9 1316.7 1508.7 1610.3 1809.4 1488.0 1486.8 2977.1 83

84 FR155035005 Real estate 1956.6 1419.2 1575.5 1686.0 1906.2 1535.1 1527.4 2921.0 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 4753.4 2951.4 -53.7 2474.4 5538.5 -2276.5 8317.7 7628.8 88

89 FR154022005 Debt securities -316.3 201.4 -67.9 -39.6 56.3 -76.1 207.0 199.8 89

90 FR153064105 Corporate equities 2469.0 1517.5 -147.8 1219.2 2636.7 -1487.6 4345.9 4160.0 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 827.4 599.0 521.5 536.8 758.4 476.9 707.7 900.0 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 6614.3 4268.1 1455.0 4084.7 7347.9 -788.6 9804.5 10606.0 95

 Changes in balance sheet account

96 FC152090005 Change in net worth (lines 32+38+78+95) 8710.2 6017.5 3022.8 5104.0 8719.9 852.2 12483.6 14102.2 96

 Balance sheet account (end of period)

97 FL152000005 Total assets 94838.3 101002.2 104218.4 109740.9 119014.1 120330.2 133319.1 148039.4 97

98 LM152010005 Nonfinancial assets 28003.8 29655.2 31582.2 33667.4 35928.1 37923.8 39932.4 43522.3 98

99 LM155035005 Real estate 22732.7 24279.3 26033.8 27936.1 30033.8 31785.7 33548.4 36749.5 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 66834.5 71347.0 72636.3 76073.6 83086.1 82406.4 93386.7 104517.1 103

104 FL154000005 Currency and deposits 8123.4 8616.7 9288.0 9863.3 10193.3 10546.2 11048.7 13238.1 104

105 FL153020005 Currency and transferable deposits 1104.8 1099.6 1207.1 1117.5 1295.0 1208.7 1173.4 2883.9 105

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 10305.6 107

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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Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

109 LM154022005 Debt securities 3927.6 4083.2 4001.8 3739.2 3735.8 4452.9 4770.1 4564.4 109

110 LM153061105 Treasury securities 851.7 710.1 1000.6 1085.0 1100.6 1661.4 1776.9 1756.1 110

111 LM153061705 Agency- and GSE-backed securities (2) 178.5 293.1 493.3 395.4 432.3 587.9 685.2 331.9 111

112 LM153062005 Municipal securities 1865.9 1971.8 1937.5 1914.4 1925.4 1907.0 1931.4 1951.7 112

113 LM153063005 Corporate and foreign bonds 1031.5 1108.2 570.4 344.3 277.5 296.5 376.6 524.7 113

114 FL154023005 Loans 1216.0 1275.8 1206.3 1199.7 1136.6 1115.3 1147.9 1264.4 114

115 FL154041005 Short term 1094.4 1162.3 1107.6 1106.2 1046.4 1030.7 1065.8 1180.8 115

116 FL153065005 Long term (mortgages) 121.7 113.5 98.7 93.5 90.2 84.6 82.1 83.6 116

117 FL153081005 Equity and investment fund shares 28646.6 31512.8 31875.3 34002.8 39009.1 37311.2 45136.3 52137.9 117

118 LM153064105 Corporate equities 12159.3 13913.7 13739.1 15173.8 17939.8 16269.8 20989.2 25634.1 118

119 LM153064205 Mutual fund shares 6593.3 7059.3 6955.0 7302.8 8650.1 7998.8 9966.1 11074.9 119

120 FL153034005 Money market fund shares 1591.9 1568.0 1551.1 1558.5 1617.9 1799.0 2210.7 2548.1 120

121 LM152090205 Equity in noncorporate business 8302.1 8971.7 9630.2 9967.8 10801.3 11243.6 11970.2 12880.8 121

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 32998.0 123

124 FL153076005 Insurance receivables due from property-casualty insurance companies 489.4 485.1 511.4 542.4 574.0 591.9 603.9 625.2 124

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 27994.2 29798.3 126

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 94838.3 101002.2 104218.4 109740.9 119014.1 120330.2 133319.1 148039.4 130

131 FL154190005 Liabilities 14224.4 14370.8 14564.3 14982.7 15536.0 15999.8 16505.1 17123.3 131

132 FL163162003 Debt securities (municipals) 235.0 228.4 220.2 217.2 218.4 216.1 212.8 202.5 132

133 FL154123005 Loans 13665.3 13790.4 13971.1 14384.8 14928.6 15386.1 15886.4 16508.0 133

134 FL154141005 Short term 4006.6 4174.8 4239.5 4473.0 4740.4 4926.1 5146.3 5327.9 134

135 FL153166000 Consumer credit 3090.5 3309.5 3400.2 3636.4 3830.8 4007.0 4192.2 4184.9 135

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 700.2 629.5 558.7 545.3 610.5 580.0 603.9 772.4 137

138 FL153165005 Long term (mortgages) 9658.7 9615.6 9731.6 9911.8 10188.2 10460.0 10740.1 11180.1 138

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 80613.9 86631.4 89654.2 94758.2 103478.1 104330.4 116813.9 130916.1 141

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
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Billions of dollars

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 266.8 372.5 310.6 383.9 613.6 309.1 331.5 543.9 32

33 FA114000005 Currency and deposits 23.4 85.1 18.6 73.0 117.9 59.3 79.0 221.8 33

34 FA113020005 Currency and transferable deposits -8.1 69.4 7.4 24.8 26.7 11.5 20.4 99.3 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 7.0 45

46 FA113096005 Other accounts receivable 261.5 271.9 286.1 309.7 464.8 243.2 232.7 298.6 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) 214.3 250.5 289.6 232.9 409.7 193.6 185.0 134.0 49

50 FA114194005 Net incurrence of liabilities 331.0 444.7 391.1 450.7 682.3 388.6 415.8 603.5 50

51 FA114135005 Loans 109.3 286.0 252.9 390.3 465.2 298.1 273.7 519.1 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 81.5 188.6 181.5 270.3 331.2 211.4 249.1 249.7 55

56 FA113165005 Mortgages 81.4 188.2 181.1 269.3 331.6 206.7 249.2 250.3 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 12.0 4.6 58

59 FA112090205 Equity in noncorporate business 142.0 63.4 126.9 -218.4 97.7 -31.9 12.7 3.2 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 79.7 61

62 FA113170005 Trade payables 34.3 9.0 -16.0 65.8 7.8 5.4 42.9 -25.9 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 92.5 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 833.6 598.7 523.6 543.5 747.8 525.3 731.2 910.6 69

70 FR115035005 Real estate 832.5 579.0 561.6 532.5 709.0 486.1 706.7 863.5 70

71 FR115035023 Residential 398.4 326.6 344.8 362.9 440.2 429.3 407.0 622.3 71

72 FR115035035 Nonresidential 434.0 252.4 216.8 169.6 268.9 56.9 299.7 241.2 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 829.7 600.8 522.6 542.5 757.3 527.2 734.5 914.1 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 827.4 599.0 521.5 536.8 758.4 476.9 707.7 900.0 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 14360.3 15405.7 16319.4 17312.7 18727.0 19629.4 20779.7 22297.3 85

86 LM112010005 Nonfinancial assets 10503.5 11174.4 11778.4 12388.8 13189.5 13783.9 14599.4 15569.5 86

87 LM115035005 Real estate 9255.3 9871.1 10484.7 11081.0 11839.4 12381.8 13160.4 14098.3 87

88 LM115035023 Residential (5) 5036.4 5367.5 5725.8 6109.3 6549.0 6987.2 7417.6 8069.7 88

89 LM115035035 Nonresidential 4218.9 4503.6 4758.9 4971.7 5290.5 5394.7 5742.8 6028.6 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 6727.8 95

96 FL114000005 Currency and deposits 1011.5 1096.6 1115.2 1188.3 1306.1 1365.4 1444.4 1666.2 96

97 FL113020005 Currency and transferable deposits 177.7 247.1 254.5 279.3 306.0 317.5 337.9 437.3 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) 116.7 129.4 119.3 116.3 120.3 119.0 129.0 136.0 108
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109 FL113096005 Other accounts receivable 2543.6 2815.5 3101.6 3411.3 3876.0 4119.3 4351.9 4650.5 109

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 3585.6 112

113 FL112100005 Total liabilities and net worth 14360.3 15405.7 16319.4 17312.7 18727.0 19629.4 20779.7 22297.3 113

114 FL114194005 Liabilities 14360.3 15405.7 16319.4 17312.7 18727.0 19629.4 20779.7 22297.3 114

115 FL114135005 Loans 4190.7 4473.9 4721.9 5110.2 5573.8 5870.7 6143.6 6662.1 115

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 4406.0 4655.2 119

120 FL113165005 Mortgages 2984.1 3169.4 3347.8 3615.2 3945.2 4150.7 4398.9 4648.6 120

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 8270.7 8939.3 9595.1 9923.0 10757.0 11245.0 11992.4 12911.7 122

123 LM112090205 Equity in noncorporate business 8261.3 8926.6 9579.8 9900.0 10732.6 11165.4 11886.7 12790.5 123

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 2723.5 125

126 FL113170005 Trade payables 526.8 535.7 519.7 585.5 593.2 598.6 641.5 615.6 126

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 1930.8 128

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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2013 2014 2015 2016 2017 2018 2019 2020

 

 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 1429.6 35

36 FA104000005 Currency and deposits 149.8 19.9 41.3 175.3 95.1 133.6 189.2 784.2 36

37 FA103020000 Currency and transferable deposits 42.1 116.8 49.4 154.1 -16.2 238.0 150.2 665.3 37

38 FA103030003 Time and savings deposits 39.2 -87.6 10.9 17.5 -7.7 5.8 14.3 107.3 38

39 FA103091003 Foreign deposits 68.6 -9.3 -19.0 3.7 119.0 -110.3 24.7 11.6 39

40 FA104022005 Debt securities -3.9 25.7 3.7 -4.1 28.8 19.1 69.3 52.7 40

41 FA103069100 Open market paper -5.6 25.1 7.8 -6.9 -8.8 38.4 55.4 38.3 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 -290.4 212.2 282.4 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 -127.0 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 22.0 55
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56 FA103096005 Other accounts receivable 213.3 171.9 805.0 572.8 177.5 938.9 1995.5 315.2 56

57 FA103070005 Trade receivables 271.8 104.1 33.4 198.8 163.4 396.3 540.5 34.7 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 70.5 59

60 FA104194005 Net incurrence of liabilities 593.1 993.4 1235.1 937.0 301.8 846.9 1960.5 1372.2 60

61 FA104122005 Debt securities 271.7 321.3 410.3 295.1 327.0 135.8 270.3 617.2 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 -0.1 13.6 20.8 15.1 -3.3 15.2 4.0 63

64 FA103163003 Corporate bonds 256.0 283.9 399.7 272.6 286.0 149.3 257.0 675.5 64

65 FA104135005 Loans 160.3 220.1 227.3 -23.2 23.2 139.2 204.2 270.3 65

66 FA104141005 Short term 140.5 182.5 95.4 -27.1 65.6 114.4 158.9 265.6 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 10.9 128.0 188.0 68

69 FA104142005 Long term 19.8 37.5 131.9 3.9 -42.5 24.9 45.3 4.7 69

70 FA103165005 Mortgages 7.9 -17.7 91.8 6.2 -33.9 97.8 50.6 46.4 70

71 FA103192305 Foreign direct investment in the U.S.: debt 12.0 55.2 40.0 -2.3 -8.6 -72.9 -5.3 -41.7 71

72 FA103181005 Equity and investment fund shares -101.5 -171.7 -77.8 -82.6 -27.1 -382.0 -242.0 11.0 72

73 FA103164103 Corporate equities -277.3 -301.9 -453.5 -495.9 -325.6 -617.5 -458.1 -168.9 73

74 FA103192105 Foreign direct investment in the U.S.: equity 175.8 130.2 375.6 413.2 298.5 235.5 216.1 179.9 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 139.2 584.4 600.7 682.9 26.6 912.9 1658.2 437.7 78

79 FA103170005 Trade payables 100.5 148.5 24.3 184.2 81.3 320.7 230.1 134.8 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 48.6 423.6 597.6 506.7 -265.9 602.7 1434.8 289.1 81

 Addendum:

82 FA105000005 Net lending (+) or borrowing (-), financial account (lines 35-60) 114.6 -319.9 -95.1 8.8 240.7 19.0 436.0 57.4 82

 Other changes in volume account

83 FV108090105 Total other volume changes -166.5 -451.9 -201.7 -90.1 319.9 369.5 517.7 -155.1 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 -33.0 -29.0 391.8 34.8 -42.6 85

86 FU107005045 Less: Statistical discrepancy (lines 33-82) (4) 121.7 435.2 93.3 52.5 -321.7 64.6 -482.9 130.7 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 1193.7 668.4 668.0 577.9 883.8 251.4 999.9 822.1 88

89 FR105035005 Real estate 1166.7 674.2 779.2 510.2 786.8 118.4 958.2 637.6 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 -142.7 573.0 404.3 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 -118.7 517.7 363.0 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 -2162.8 9063.9 9484.7 100

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 -1586.3 7595.0 8450.7 102

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 -4475.4 -2165.8 1229.9 -1613.9 -4022.3 2271.6 -7491.0 -8258.3 106

 Changes in balance sheet account

107 FC102090095 Change in net worth (lines 28+33+83+106) (5) -3994.3 -2021.9 1560.6 -1264.8 -3379.9 3232.0 -6473.3 -7969.1 107

 Balance sheet account (end of period)

108 FL102000005 Total assets 32025.8 34000.1 36215.0 38237.5 40429.1 42345.2 47296.2 50184.0 108

109 LM102010005 Nonfinancial assets (6) 18010.2 19142.4 20236.2 21154.3 22439.8 23232.7 24814.3 25868.2 109

110 LM105035005 Real estate 9497.3 10311.1 11214.2 11818.0 12695.9 12960.8 14126.0 14833.5 110

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 24315.8 114

115 FL104000005 Currency and deposits 1018.1 1038.0 1079.2 1254.5 1349.6 1483.1 1672.3 2456.6 115

116 FL103020000 Currency and transferable deposits 647.7 764.4 813.8 967.9 951.7 1189.7 1339.9 2005.2 116

117 FL103030003 Time and savings deposits 248.2 160.7 171.6 189.0 181.3 187.2 201.5 308.7 117

118 FL103091003 Foreign deposits 122.2 112.9 93.9 97.6 216.6 106.3 131.0 142.6 118

119 LM104022005 Debt securities 179.4 208.4 211.6 206.7 236.0 253.2 326.6 381.3 119

120 FL103069100 Open market paper 106.5 131.6 139.4 132.5 123.7 162.1 217.6 255.9 120

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 10550.7 131

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 2553.7 133

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) 332.6 342.8 345.1 351.7 365.6 377.0 392.0 414.0 138

139 FL103096005 Other accounts receivable 4919.2 5397.9 6571.3 7133.6 6349.4 8861.8 10323.8 10345.3 139

140 FL103070005 Trade receivables 2616.6 2720.8 2754.2 2953.0 3116.4 3512.7 4053.2 4088.0 140

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 6047.3 142

143 FL102100085 Total liabilities and net worth 32025.8 34000.1 36215.0 38237.5 40429.1 42345.2 47296.2 50184.0 143

144 FL104194005 Liabilities 40535.2 44531.3 45185.7 48473.0 54044.6 52728.7 64153.0 75009.9 144

145 FL104122005 Debt securities 4823.1 5144.4 5554.7 5849.8 6176.8 6312.7 6582.9 7200.1 145

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 525.3 525.2 538.9 559.6 574.7 571.4 586.6 590.6 147

148 FL103163003 Corporate bonds 4153.3 4437.2 4836.9 5109.5 5395.5 5544.8 5801.8 6477.3 148

149 FL104135005 Loans 2758.4 2970.6 3164.5 3098.4 3272.6 3747.5 3961.4 4229.6 149

150 FL104141005 Short term 1851.9 2034.4 2088.1 2061.0 2264.5 2712.8 2871.7 3137.3 150

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 2025.8 152

153 FL104142005 Long term 906.4 936.3 1076.3 1037.3 1008.1 1034.7 1089.7 1092.3 153

154 FL103165005 Mortgages 487.5 470.4 568.5 570.1 536.2 626.5 679.0 725.4 154

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 41178.7 50674.4 156

157 LM103164103 Corporate equity 21515.3 23970.0 23113.6 24653.0 28747.5 26543.6 33680.5 41962.3 157

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 7063.9 7786.3 8375.0 9183.4 9247.5 9625.3 11945.1 12616.8 162

163 FL103170005 Trade payables 1931.2 2079.8 2104.1 2288.3 2369.7 2690.4 2920.5 3055.3 163

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 5049.5 5611.1 6196.7 6829.0 6600.6 6668.3 8764.7 9287.8 165

166 FL102090095 Net worth -8509.3 -10531.2 -8970.7 -10235.5 -13615.5 -10383.5 -16856.8 -24825.9 166

(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 2946.3 2624.5 1258.0 2145.3 2946.6 1618.6 3395.6 9649.8 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 1712.6 37

38 FA794022005 Debt securities 1377.4 907.0 601.9 1198.4 868.1 974.4 1131.8 6312.7 38

39 FA793069175 Open market paper 9.7 -43.3 9.0 -87.2 92.0 1.3 -10.9 -53.0 39

40 FA793061105 Treasury securities 565.9 631.4 356.7 763.8 148.3 715.1 719.9 4473.9 40

41 FA793061705 Agency- and GSE-backed securities (3) 415.2 81.9 3.4 344.5 255.9 -19.7 133.4 1099.7 41

42 FA793062005 Municipal securities -26.9 7.7 47.8 29.2 46.9 -47.6 67.6 110.3 42

43 FA793063005 Corporate and foreign bonds 413.6 229.3 185.1 148.0 325.0 325.2 221.9 681.8 43

44 FA794035005 Loans 68.6 783.4 819.1 893.6 1325.2 1203.8 1385.8 777.2 44

45 FA794041005 Short term -15.4 590.7 444.2 394.2 748.1 613.4 802.8 57.1 45

46 FA794042005 Long term 83.9 192.7 374.9 499.4 577.1 590.4 582.9 720.1 46

47 FA793081005 Equity and investment fund shares 140.0 168.8 371.1 177.1 43.6 -189.0 -122.0 -207.5 47

48 FA793064105 Corporate equities -26.4 -4.4 235.3 -169.7 80.5 -136.2 -275.1 -370.3 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 35.4 107.4 82.9 54

55 FA793052005 Insurance, pension and standardized guarantee schemes 490.5 268.9 288.4 401.1 270.4 296.9 343.1 394.0 55

56 FA793096005 Other accounts receivable 63.4 279.7 -229.9 -70.5 132.1 -182.8 509.4 660.8 56
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57 FA794194005 Net incurrence of liabilities 2789.1 2617.8 1161.0 1994.3 2685.3 1462.7 3305.7 9565.4 57

58 FA794100005 Currency and deposits 1785.8 938.5 237.1 459.7 792.8 494.3 866.5 6595.4 58

59 FA794122005 Debt securities 28.8 120.0 135.9 338.6 362.8 323.6 399.0 903.8 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 42.7 113.6 252.6 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 32.0 159.1 47.1 -29.6 131.7 -231.0 63

64 FA794141005 Short term -226.3 165.3 10.8 50.9 40.8 20.5 148.9 -241.7 64

65 FA794142005 Long term 13.3 19.6 21.1 108.1 6.3 -50.1 -17.2 10.7 65

66 FA793181005 Equity and investment fund shares 675.1 728.4 524.8 595.0 838.2 427.6 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 -40.7 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 12.9 107.9 111.5 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 586.4 431.8 497.8 501.0 630.0 445.2 553.7 677.3 76

77 FA793196005 Other accounts payable -73.9 214.2 -266.5 -59.1 14.5 -198.3 185.2 403.1 77

 Addendum:

78 FA795000005 Net lending (+) or borrowing (-), financial account (lines 35-57) 157.2 6.7 97.1 151.1 261.2 155.9 89.9 84.4 78

 Other changes in volume account

79 FV798090185 Total other volume changes 116.9 -168.1 212.3 205.2 -49.2 231.1 -409.5 123.7 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 -64.3 -185.2 43.2 34.1 -409.9 115.8 -367.4 127.0 81

82 FU797005045 Less: Statistical discrepancy (lines 33-78) (4) -181.2 -17.1 -169.1 -171.1 -362.6 -117.7 42.1 3.3 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 2249.2 1577.0 -1128.0 1230.8 3845.2 -2728.6 6253.9 4499.6 87

88 FR794022005 Debt securities -973.9 643.4 -518.0 -38.4 212.4 -652.0 1289.2 811.0 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 4653.8 3515.2 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 -971.5 -714.6 93

94 FR794190085 Liabilities 3950.9 1610.5 -793.1 1946.9 4425.9 -2836.3 6658.1 4023.2 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 2003.7 422.9 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 -163.5 476.6 1077.6 -531.6 1598.2 1230.3 101

102 FR798200005 Changes in net worth due to nominal holding gains/losses -1673.1 -10.5 -322.0 -701.6 -551.8 168.1 -363.7 494.6 102

 Changes in balance sheet account

103 FC792090095 Change in net worth (lines 30+33+79+102) -1559.1 -160.7 -139.5 -467.8 -665.2 482.6 -581.6 733.8 103

 Balance sheet account (end of period)

104 FL792000095 Total assets 86356.4 90518.6 90586.6 94171.4 101019.5 100309.0 110084.4 124528.6 104

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 84669.0 88779.8 88792.5 92314.3 99098.2 98284.6 107959.8 122358.1 109

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 4712.8 111

112 FL794022005 Debt securities 22088.8 23639.2 23698.9 24865.2 25939.3 26235.7 28757.8 35880.5 112

113 FL793069175 Open market paper 656.8 614.6 624.9 538.2 629.1 630.9 619.9 566.5 113

114 FL793061105 Treasury securities 6189.1 7036.0 7310.0 8009.2 8171.0 8840.4 9785.2 14554.2 114

115 FL793061705 Agency- and GSE-backed securities (3) 6261.9 6533.8 6424.5 6709.0 6978.8 6874.2 7237.1 8396.7 115

116 FL793062005 Municipal securities 1875.7 1978.1 2023.3 2016.3 2093.5 1977.8 2105.7 2234.0 116

117 FL793063005 Corporate and foreign bonds 7105.4 7476.7 7316.3 7592.6 8066.8 7912.3 9010.0 10129.1 117

118 FL794035005 Loans 21965.1 22718.8 23355.2 24210.2 25590.9 26765.4 28131.2 28904.4 118

119 FL794041005 Short term 9115.7 9706.3 9976.7 10370.9 11199.8 11816.8 12618.6 12680.5 119

120 FL794042005 Long term 12849.4 13012.5 13378.5 13839.3 14391.0 14948.6 15512.6 16224.0 120

121 FL793081005 Equity and investment fund shares 24837.0 26229.2 25730.2 27421.3 31753.1 29136.3 34501.5 38647.3 121

122 LM793064105 Corporate equities 15544.1 16521.5 16290.0 17305.9 20792.3 18823.3 22890.6 25985.4 122

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 399.1 416.5 403.0 503.4 516.1 538.2 603.3 828.6 124

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 3376.5 3459.4 128

129 FL793052005 Insurance, pension and standardized guarantee schemes 7482.2 7569.9 8075.8 8292.7 7983.3 8737.1 8295.6 8140.0 129

130 FL793096005 Other accounts receivable 4404.6 4517.6 4436.4 4472.3 4471.3 4534.9 5263.9 6062.2 130

131 FL792100005 Total liabilities and net worth 86356.4 90518.6 90586.6 94171.4 101019.5 100309.0 110084.4 124528.6 131

132 FL794194005 Liabilities 86736.9 91059.8 91267.2 95319.9 102833.2 101640.1 111997.1 125707.5 132

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 13584.6 13976.6 14874.3 134

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 4063.9 4170.4 4416.9 136

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 5326.0 5094.1 138

139 FL794141005 Short term 4491.0 4656.3 4670.0 4721.0 4761.7 4782.2 4931.1 4689.4 139

140 FL794142005 Long term 299.4 325.2 346.7 445.9 458.2 412.3 394.9 404.7 140

141 FL793181005 Equity and investment fund shares 25339.5 27281.3 27064.8 29098.4 33231.9 31350.5 37585.7 41596.3 141

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 12407.5 143

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 3471.8 3583.4 148

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 30468.7 32862.1 34934.4 151

152 FL793196005 Other accounts payable 2024.4 2235.2 2080.0 2079.7 2455.5 2353.1 2691.5 3058.0 152

153 FL792090095 Net worth -380.5 -541.2 -680.7 -1148.5 -1813.7 -1331.1 -1912.7 -1179.0 153

(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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S.62.a Private Depository Institutions

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 969.2 949.0 521.7 731.9 866.7 417.5 765.4 3222.3 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 98.7 237.0 1085.5 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 23.7 14.9 45

46 FA704035005 Loans 135.0 594.8 701.1 589.4 521.4 778.9 492.5 487.2 46

47 FA704041005 Short term 144.2 446.4 447.8 293.2 306.8 604.9 281.5 401.8 47

48 FA704042005 Long term -9.2 148.4 253.3 296.2 214.6 174.0 211.0 85.4 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 2.9 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 27.4 177.8 56

57 FA704194005 Net incurrence of liabilities 830.0 1000.0 550.0 773.6 752.0 577.2 866.9 3164.6 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 58.7 61

62 FA763163005 Corporate bonds -74.4 -19.4 -9.5 -16.0 -35.0 12.3 -18.7 30.5 62

63 FA703169175 Commercial paper -64.4 -28.2 -5.9 -1.6 -30.3 14.7 -21.4 28.2 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 94.4 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 90.0 45.0 70

71 FA703196005 Other accounts payable 23.0 166.4 -8.6 11.6 76.9 -47.6 68.8 -118.0 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 -101.5 57.7 72

 Other changes in volume account

73 FV708090185 Total other volume changes -102.9 -95.0 -56.5 -157.8 -180.9 -156.7 -243.8 68.7 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 34.9 49.6 -22.4 -159.6 84.9 -126.4 81.5 75

76 FU707005045 Less: Statistical discrepancy (lines 33-72) (3) -32.3 129.9 106.1 135.3 21.4 241.6 117.5 12.7 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 -12.8 -77.0 -237.8 -125.1 146.7 -236.4 280.5 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 -438.3 440.7 93

 Balance sheet account (end of period)

94 FL702000095 Total assets 16157.5 17188.1 17657.4 18367.1 19253.6 19643.7 20544.3 23964.7 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 20056.1 23448.2 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 4647.3 5790.2 104

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 779.5 733.8 695.7 682.5 670.8 611.8 654.6 686.1 109
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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 12960.9 110

111 FL704041005 Short term 4422.4 4868.7 5316.5 5609.6 5916.4 6528.9 6810.4 7216.9 111

112 FL704042005 Long term 4402.1 4542.6 4788.3 5078.5 5289.6 5451.5 5660.1 5744.0 112

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 20544.3 23964.7 123

124 FL704194005 Liabilities 16948.2 18012.2 18534.9 19542.0 20592.1 20899.4 22238.3 25218.0 124

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 407.3 359.7 344.3 326.7 261.3 288.2 248.2 306.9 128

129 FL763163005 Corporate bonds 227.6 208.2 198.7 182.7 147.7 160.0 141.3 171.8 129

130 FL703169175 Commercial paper 179.7 151.5 145.6 143.9 113.6 128.3 106.9 135.1 130

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 FL753192305 Long term (foreign direct investment in the U.S.: debt) 32.7 31.3 30.6 33.5 31.4 27.8 26.1 24.4 133

134 FL703181105 Equity and investment fund shares 2869.8 3075.2 3154.2 3563.1 3865.1 3659.1 4205.4 4075.0 134

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 2353.1 2398.1 137

138 FL703196005 Other accounts payable 604.3 770.8 762.2 773.8 850.7 803.1 891.4 773.4 138

139 FL702090095 Net worth -790.7 -824.0 -877.5 -1174.9 -1338.6 -1255.7 -1694.0 -1253.3 139

(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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S.63.a Insurance Companies

Billions of dollars

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 470.2 319.1 325.1 333.6 485.9 292.3 434.1 419.1 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 24.9 292.5 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 33.7 388.5 141.6 235.7 53

54 FA593061705 Agency- and GSE-backed securities (2) -5.4 20.0 -11.7 10.9 34.0 25.3 34.2 58.1 54

55 FA593062045 Municipal securities 0.9 -0.2 0.1 0.2 0.7 0.7 -1.0 -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 -159.6 -184.9 60

61 FA593064105 Corporate equities -424.5 -271.5 -6.6 -212.6 -108.5 -183.9 -202.1 -142.4 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 46.8 63

64 FA593052025 Insurance, pension and standardized guarantee schemes 451.8 256.4 246.9 336.2 175.0 209.9 302.8 274.2 64

65 FA593093005 Other accounts receivable 29.9 28.8 -12.0 63.7 118.2 -7.6 249.4 33.5 65

66 FA594190005 Net incurrence of liabilities (pension entitlements) 469.9 318.9 325.0 333.7 486.0 292.0 433.9 418.9 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 28.2 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 28.1 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 1169.1 879.8 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 1204.4 906.2 78

79 FR593064205 Mutual fund shares 458.4 146.8 -89.0 250.3 555.8 -316.9 765.8 576.3 79

80 FR593052025 Insurance, pension, and standardized guarantee schemes -791.2 -298.8 147.5 -282.8 -704.0 357.1 -971.5 -714.6 80

81 FR594190005 Liabilities (pension entitlements) 707.2 277.8 -103.7 363.9 789.8 -411.5 1202.8 931.8 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 22669.9 24494.7 25986.3 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 22661.4 24486.1 25977.8 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 60.8 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 5118.4 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 3206.9 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 12039.7 102

103 LM593064105 Corporate equities 4707.5 4808.0 4710.8 4912.2 5744.0 5218.6 5909.5 6623.2 103

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 212.3 210.7 207.9 223.4 221.0 218.2 200.4 247.2 105

106 FL593052025 Insurance, pension and standardized guarantee schemes 6691.0 6766.1 7230.6 7382.7 6977.9 7644.7 7162.5 6886.7 106
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107 FL593093005 Other accounts receivable 772.6 801.4 789.4 853.1 971.3 963.6 1696.2 1807.9 107

108 FL592000095 Total liabilities and net worth 19410.7 20114.9 20421.0 21247.6 22673.9 22669.9 24494.7 25986.3 108

109 FL594190005 Liabilities (pension entitlements) 19584.9 20299.2 20590.4 21386.8 22786.9 22767.2 24645.5 26160.8 109

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 276.2 705.5 183.6 894.9 1416.6 1052.9 1858.0 2427.2 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 -201.7 -74.0 204.1 597.3 516.6 672.7 855.7 1480.3 37

38 FA853069175 Open market paper -11.6 -35.1 19.3 -111.7 107.9 15.4 1.3 -56.7 38

39 FA853061105 Treasury securities -72.0 68.2 272.1 453.3 140.4 466.4 365.8 1373.1 39

40 FA853061705 Agency- and GSE-backed securities (3) -191.5 -166.6 -121.9 196.0 30.7 17.0 215.7 -297.9 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 88.6 208.0 140.8 169.5 423.7 42

43 FA854035005 Loans -70.4 146.9 78.2 258.6 605.4 516.6 568.5 405.9 43

44 FA854041005 Short term -146.8 130.6 -2.3 99.1 282.3 169.9 245.7 -210.2 44

45 FA814042005 Long term 76.4 16.3 80.5 159.4 323.2 346.8 322.8 616.1 45

46 FA813081005 Equity and investment fund shares 424.6 420.6 364.8 504.5 155.6 119.3 109.0 59.6 46

47 FA813064105 Corporate equities 408.4 288.3 214.5 71.5 187.1 69.4 -73.3 -209.8 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 35.4 107.4 82.9 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 37.4 159.7 -256.2 -240.8 43.8 -177.2 193.8 271.0 53

54 FA854194005 Net incurrence of liabilities 254.4 685.5 108.3 678.7 1244.7 834.1 1690.9 2409.3 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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56 FA814122005 Debt securities 167.5 167.6 151.2 356.2 428.2 296.6 439.0 845.1 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 30.5 132.2 222.2 58

59 FA813169105 Commercial paper -16.8 -39.4 -34.6 2.4 -6.4 19.2 -11.8 -35.3 59

60 FA814135005 Loans -407.2 -106.7 -219.2 25.4 91.5 315.0 127.5 66.5 60

61 FA814141005 Short term -426.2 -123.1 -233.7 -74.0 80.5 353.7 142.5 54.3 61

62 FA814142005 Long term 19.0 16.4 14.5 99.4 11.0 -38.7 -15.0 12.2 62

63 FA123165005 Mortgages 19.9 9.3 4.0 1.0 5.6 -15.8 1.9 2.3 63

64 FA803192305 Foreign direct investment in the U.S.: debt -0.9 7.1 10.5 98.4 5.4 -22.9 -16.9 9.9 64

65 FA853181005 Equity and investment fund shares 616.3 619.1 417.9 415.3 857.6 374.4 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 -76.0 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 -118.9 6.9 -241.2 -117.9 -132.3 -151.6 25.1 303.2 74

 Addendum:

75 FA855000005 Net lending (+) or borrowing (-), financial account (lines 35-54) 21.7 20.0 75.3 216.2 171.9 218.8 167.1 17.8 75

 Other changes in volume account

76 FV858090185 Total other volume changes 264.6 -43.4 238.5 414.1 165.4 344.3 -59.9 103.6 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 75.8 -219.5 -6.9 55.6 -248.0 27.4 -210.1 32.0 78

79 FU857005045 Less: Statistical discrepancy (lines 33-75) (4) -188.8 -176.1 -245.4 -358.5 -415.2 -319.3 -150.2 -71.6 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 1666.4 764.2 -599.7 699.8 2437.5 -1705.7 3710.2 2735.8 84

85 FR854022005 Debt securities -298.0 144.5 -160.4 -11.1 60.4 -217.2 405.4 199.9 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 3202.7 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 2588.3 1058.0 -609.7 1181.9 2984.8 -1908.9 4364.9 2907.1 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 1482.0 687.2 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 -905.1 -279.6 18.3 -472.7 -530.4 239.1 -630.2 -159.9 96

 Changes in balance sheet account

97 FC852090095 Change in net worth (lines 30+33+76+96) -784.7 -446.8 121.1 -162.4 -581.7 512.9 -645.9 -109.2 97

 Balance sheet account (end of period)

98 FL852000095 Total assets 37906.4 39178.7 38568.3 40246.5 44098.6 43620.9 49150.4 54298.9 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 36866.7 38095.8 37445.4 39079.6 42892.0 42353.7 47836.2 52976.7 103

104 FL854000005 Currency and deposits 1350.1 1397.4 1171.0 942.3 1032.3 949.8 1077.0 1283.3 104
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105 FL854022005 Debt securities 7167.6 7238.1 7257.5 7843.7 8414.5 8872.0 10168.8 11848.0 105

106 FL853069175 Open market paper 500.6 466.6 487.2 376.0 482.8 498.7 534.9 477.8 106

107 FL853061105 Treasury securities 1269.4 1358.8 1610.6 2042.8 2173.5 2625.9 3061.0 4491.3 107

108 FL853061705 Agency- and GSE-backed securities (3) 1984.2 1845.8 1705.9 1893.1 1927.0 1936.7 2191.3 1884.4 108

109 FL853062005 Municipal securities 952.2 987.1 971.7 926.0 974.5 986.4 1127.1 1179.1 109

110 FL853063005 Corporate and foreign bonds 2461.2 2579.8 2482.0 2605.9 2856.7 2824.4 3254.6 3815.4 110

111 FL854035005 Loans 12565.6 12689.0 12591.9 12818.4 13482.4 13975.6 14530.5 14929.2 111

112 FL854041005 Short term 4528.2 4658.8 4482.7 4581.8 4944.9 5110.7 5356.4 5146.2 112

113 FL814042005 Long term 8037.4 8030.2 8109.3 8236.6 8537.5 8864.8 9174.1 9783.0 113

114 FL813065005 Mortgages 8023.0 8008.5 8090.9 8219.9 8523.9 8846.6 9163.2 9777.4 114

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 20014.4 22609.8 116

117 LM813064105 Corporate equities 9878.2 10726.5 10601.6 11380.5 13887.2 12565.5 15694.9 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 3376.5 3459.4 121

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 2334.6 2281.3 2117.5 1987.7 1986.6 1942.3 1980.5 2237.3 123

124 FL852100005 Total liabilities and net worth 37906.4 39178.7 38568.3 40246.5 44098.6 43620.9 49150.4 54298.9 124

125 FL854194005 Liabilities 38088.4 39807.5 39076.1 40916.8 45350.5 44359.9 50535.3 55793.1 125

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 13296.4 13728.4 14567.4 127

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 3903.9 4029.1 4245.2 129

130 FL813169105 Commercial paper 361.7 322.3 287.6 290.1 283.6 302.9 291.0 255.8 130

131 FL814135005 Loans 3328.0 3228.6 3012.4 3033.7 3129.3 3447.2 3573.5 3639.5 131

132 FL814141005 Short term 3081.4 2958.3 2727.5 2653.5 2734.0 3087.7 3230.2 3284.6 132

133 FL814142005 Long term 246.6 270.3 284.9 380.1 395.3 359.5 343.3 354.9 133

134 FL123165005 Mortgages 214.3 231.4 235.4 236.5 242.0 226.2 224.3 226.6 134

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 32337.1 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 10607.0 138

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 766.3 768.3 639.0 564.7 791.7 739.6 885.9 1136.5 145

146 FL852090095 Net worth -182.0 -628.8 -507.8 -670.2 -1251.9 -739.0 -1384.9 -1494.1 146

(1) Includes the following sectors as defined in the Financial Accounts of the United States: Money Market Funds; Mutual Funds; Closed-End Funds; Exchange-Traded Funds;

 Government-Sponsored Enterprises; Agency- and GSE-Backed Mortgage Pools; Issuers of Asset-Backed Securities; Finance Companies; REITs; Security Brokers and Dealers;

 Holding Companies; Other Financial Business.

(2) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(3) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.

(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(5) Excludes land. Includes corporate and noncorporate financial business.
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 Current account

 1 FA316902505 Gross value added 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 4948.0 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 39.9 378.1 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 17.2 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 -3246.1 79

 Other changes in volume account

80 FV318090185 Total other volume changes 180.6 -51.4 122.5 64.9 110.1 2.7 -44.6 20.7 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 49.2 -23.7 -79.2 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 29.6 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 -340.2 -879.3 -1111.9 -3067.1 95

 Balance sheet account (end of period)

96 FL312000095 Total assets 5098.3 5149.8 5405.6 5658.1 5946.4 6381.6 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 2549.8 2860.3 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 315.5 296.9 342.1 375.2 642.4 675.6 599.2 673.6 125

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 178.5 154.8 175.1 193.2 451.1 460.2 380.0 437.0 127

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 5946.4 6381.6 6487.9 8399.1 129

130 FL314190005 Liabilities 16091.1 16807.7 17555.2 18415.5 19044.0 20358.4 21576.7 26555.0 130

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 257.4 253.8 267.7 296.5 313.5 387.3 423.3 805.4 141

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 249.9 246.8 261.4 290.7 308.2 382.3 418.3 435.5 143

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 -13097.5 -13976.8 -15088.8 -18155.9 146

(1) The federal government sector excludes federal government employee retirement funds.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land and nonproduced nonfinancial assets.
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Billions of dollars

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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 33.0 371.0 35

36 FA214000005 Currency and deposits 27.3 28.4 5.5 14.1 11.7 0.3 25.9 81.3 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 35.7 224.8 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 -16.6 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 -30.0 34.5 52

53 FA213070003 Trade receivables 9.4 11.0 0.6 17.5 6.2 22.8 19.1 7.3 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 -58.7 14.1 55
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56 FA214190005 Net incurrence of liabilities 377.4 176.7 227.4 318.6 251.8 232.3 295.7 391.1 56

57 FA213162005 Debt securities (municipals) -51.5 -31.0 13.4 30.5 -1.5 -39.9 -2.3 90.6 57

58 FA213162400 Short term -11.2 -6.4 -5.9 -2.7 4.8 2.9 6.8 1.7 58

59 FA213162200 Other -40.3 -24.6 19.3 33.2 -6.3 -42.8 -9.1 89.0 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 345.4 210.8 172.7 244.8 207.9 223.9 248.4 251.0 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) -243.5 -223.0 -150.7 -147.4 -166.1 -163.4 -262.7 -20.1 63

 Other changes in volume account

64 FV218090185 Total other volume changes -710.9 -67.0 4.5 76.4 68.7 25.1 11.3 -57.3 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 -75.9 -58.0 -73.6 53.3 -34.1 66

67 FU217005045 Less: Statistical discrepancy (lines 33-63) (3) -52.5 -47.3 -111.7 -152.3 -128.9 -98.8 42.0 23.2 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 -577.0 -427.9 73

74 FR218200005 Changes in net worth due to nominal holding gains/losses 792.1 334.5 -24.3 383.5 842.4 240.9 948.0 748.6 74

 Changes in balance sheet account

75 FC212090095 Change in net worth (lines 29+33+64+74) -112.5 100.2 -165.8 287.8 752.5 142.5 884.2 850.2 75

 Balance sheet account (end of period)

76 FL212000095 Total assets 12620.6 12876.0 13117.6 13625.5 14215.9 14840.2 15440.3 16310.0 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 3114.2 3246.1 3270.6 3434.6 3897.2 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 1638.6 1903.2 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 183.3 179.6 186.6 195.9 207.2 208.6 211.9 226.9 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 381.3 388.3 417.8 446.7 443.2 504.0 474.1 508.6 98

99 FL213070003 Trade receivables 172.1 183.1 183.7 201.2 207.4 230.2 249.3 256.7 99

100 FL213078005 Taxes receivable 122.8 129.9 135.5 146.3 151.6 171.3 180.9 194.0 100

101 FL213093003 Other (miscellaneous assets) 86.4 75.3 98.6 99.2 84.2 102.5 43.8 57.9 101
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102 FL212100005 Total liabilities and net worth 12620.6 12876.0 13117.6 13625.5 14215.9 14840.2 15440.3 16310.0 102

103 FL214190005 Liabilities 7504.2 7659.3 8066.7 8286.7 8124.7 8606.4 8322.4 8341.9 103

104 FL213162005 Debt securities (municipals) 3125.8 3094.9 3108.2 3138.7 3137.2 3097.2 3094.9 3185.6 104

105 FL213162400 Short term 45.5 39.1 33.1 30.4 35.2 38.0 44.8 46.5 105

106 FL213162200 Other 3080.4 3055.8 3075.1 3108.3 3102.0 3059.2 3050.1 3139.1 106

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 5116.5 5216.7 5050.9 5338.8 6091.2 6233.7 7117.9 7968.1 110

(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 1283.3 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 -26.3 283.9 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 34.7 21

22 FA263030005 Time deposits 51.5 54.2 -18.6 70.8 16.4 37.4 -2.1 98.5 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 49.8 30

31 FA264041005 Short term 40.9 131.4 15.7 64.4 130.9 -7.9 118.7 83.7 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 73.3 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 -205.4 637.9 37

38 FA263064203 Mutual fund shares -17.0 40.9 1.8 60.9 32.6 28.7 -53.0 8.5 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) 342.6 240.6 331.7 404.6 342.5 239.2 296.9 486.3 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 -116.0 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 46.4 205.7 189.8 106.7 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 FR263192305 Long term (U.S. direct investment abroad: debt) -26.3 57.9 4.4 -17.0 10.4 -39.9 -2.9 0.2 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 2701.6 104
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Z.1, December 9, 2021 189

S.9.a Rest of the World 

Billions of dollars

2013 2014 2015 2016 2017 2018 2019 2020

 

 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 39843.1 105

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 1994.8 107

108 FL263025003 Currency 491.9 558.2 596.6 638.9 708.6 773.9 825.2 946.5 108

109 FL263027003 Transferable deposits 99.4 116.0 110.2 128.0 139.9 154.1 161.8 196.5 109

110 FL263030005 Time deposits 445.1 499.2 480.2 550.8 564.6 601.9 599.8 698.8 110

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 2530.8 118

119 FL264041005 Short term 963.3 1094.7 1110.4 1174.8 1378.7 1704.8 1895.6 1979.2 119

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 139.7 170.6 207.5 203.3 375.8 733.3 830.8 904.0 121

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 10449.3 125

126 LM263064203 Mutual fund shares 553.1 616.6 600.6 694.2 828.7 799.0 896.1 1029.2 126

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 39843.1 133

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 13457.4 158

(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.