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

RFor use at 12:00 noon, eastern time

June 7, 2018

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

First Quarter 2018

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

i

Household Net Worth and Growth of Domestic Nonfinancial Debt

Year

Household 

net worth1

Growth of domestic nonfinancial debt2

Total Households Businesses

Federal 

government

State and 

local gov’ts

2008 56,274 5.8 0.1 5.7 21.4 1.4

2009 58,082 3.6 0.4 -4.0 20.4 4.6

2010 62,045 4.4 -0.6 -0.7 18.5 2.5

2011 63,117 3.7 -0.0 2.7 10.8 -1.3

2012 68,806 4.6 1.1 4.5 10.1 -0.0

2013 78,552 3.8 1.6 4.7 6.7 -1.7

2014 83,517 4.1 2.2 6.2 5.4 -1.2

2015 86,535 4.3 2.3 6.8 5.0 0.3

2016 91,955 4.5 3.3 5.5 5.6 1.0

2017 99,740 3.8 3.8 5.7 2.8 -0.1

2016: Q1 87,063 5.5 2.4 9.2 6.2 0.7

Q2 87,807 4.4 3.7 4.1 5.7 2.2

Q3 90,091 5.2 4.2 6.1 6.3 0.8

Q4 91,955 2.7 2.8 2.2 3.6 0.4

2017: Q1 94,138 1.8 3.9 6.1 -2.6 -3.3

Q2 95,482 4.1 3.9 5.9 3.6 -1.2

Q3 97,266 6.0 2.7 6.0 10.3 -0.2

Q4 99,740 2.9 4.6 4.4 -0.2 4.3

2018: Q1 100,768 7.2 3.3 4.4 15.3 -4.2

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.

The net worth of households and nonprofits rose to 

$100.8 trillion during the first quarter of 2018. The 

value of directly and indirectly held corporate equities 

decreased $0.4 trillion and the value of real estate 

increased $0.5 trillion.

Domestic nonfinancial debt outstanding was 

$49.8 trillion at the end of the first quarter of 2018, of 

which household debt was $15.3 trillion, nonfinancial 

business debt was $14.4 trillion, and total government 

debt was $20.1 trillion.

Domestic nonfinancial debt expanded 7.2 percent at an 

annual rate in the first quarter of 2018, up from an 

annual rate of 2.9 percent in the previous quarter.

Household debt increased 3.3 percent at an annual rate 

in the first quarter of 2018. Consumer credit grew at an 

annual rate of 4.2 percent, while mortgage debt 

(excluding charge-offs) grew at an annual rate of 2.9

percent.

Nonfinancial business debt rose at an annual rate of 4.4

percent in the first quarter of 2018, about the same as in 

the previous quarter.

Federal government debt increased 15.3 percent at an

annual rate in the first quarter of 2018, due primarily to 

the debt ceiling increase and the restoration of 

government trust funds that were affected by the 

Treasury’s extraordinary measures.

State and local government debt contracted at an 

annual rate of 4.2 percent in the first quarter of 2018, 

after expanding at an annual rate of 4.3 percent in the 

previous quarter.

Recent Developments in Household Net Worth and 

Domestic Nonfinancial Debt
ii
iii

Topic Description

“Flows” now referred to as 

“transactions”

As of this publication, the term “flow” is being replaced by the 

term “transactions.” The concept being referred to, which is the 

acquisition of assets or incurrence of liabilities, is not being

changed. The change in terminology is intended to prevent 

confusion with the broader concept sometimes called “economic 

flow,” which is the change in level from one period to the next 

and is composed of transactions, revaluations, and other 

changes in volume. The new terminology brings the Financial 

Accounts of the United States into better alignment with 

international guidelines in the System of National Accounts 2008

(SNA2008). 

Tax on foreign earnings retained 

abroad required in the December 

2017 Tax Cuts and Jobs Act

The 2017 Tax Cuts and Jobs Act requires corporations to pay 

taxes on all foreign earnings retained abroad after 1986 until the 

end of the company’s most recent fiscal year. Payments may be 

spread over an eight-year period. The Bureau of Economic 

Analysis (BEA) shows this tax assessment as a capital transfer 

in 2017:Q4 (table F.5) from corporations to the federal 

government. These capital transfers appear on the Financial 

Accounts’ sector tables as part of “gross savings less net capital 

transfers” for the nonfinancial corporate business, U.S.-

chartered depository institutions, property and casualty 

insurance companies, life insurance companies, finance 

companies, and brokers and dealers sectors (tables F.103, 

F.111, F.115, F.116, F.128, and F.130). On the instrument table 

taxes payable by businesses (tables F.228 and L.228), these tax 

assessments have been added to the federal government sector 

as taxes receivable and as taxes payable for the corresponding 

business sectors. The taxes receivable and payable will be 

reduced over the next eight years as payments are made. For 

additional information, see the Financial Accounts technical 

Q&A on the effects of the Tax Cuts and Jobs Act on Financial 

Accounts transactions.

“Total internal funds + IVA” 

renamed “Gross savings less net 

capital transfers paid” for the 

nonfinancial corporate business 

sector

The nonfinancial corporate business sector series “Total internal 

funds + IVA” (table F.103) has been renamed “Gross savings 

less net capital transfers paid,” consistent with the language in 

the SNA2008 and in other sector tables. There was no change 

in the calculation of the series. In addition, the calculation of the 

sector’s financing gap shown as a memo item has been 

corrected to exclude the sector’s net capital transfers paid.

Changes to the components of 

liquid assets of the nonfinancial 

business sector

Liquid asset components of the nonfinancial corporate business 

sector (tables F.103, L.103, B.103, and R.103) have been 

revised back to 2010:Q4 to incorporate the Census Bureau’s 

Quarterly Financial Report data for the service industry. Also, 

the allocation of deposits between checkable deposits and

currency, and time and savings deposits for the nonfinancial 

corporate business sector and the nonfinancial noncorporate 

business sector (tables F.104, L.104, B.104, and R.104) has 

been re-estimated back to 2004:Q1 because of a change in

methodology.

Release Highlights

First Quarter 2018
iv

Topic Description

Nonfinancial corporate business 

benchmark

Assets of the nonfinancial corporate business sector (tables 

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

2016:Q1 forward to reflect new data from the Internal Revenue 

Service (IRS) Statistics of Income (SOI) for 2016.

Corporate credit unions The credit union sector (tables F.114 and L.114) has been 

revised from 1997:Q1 to 2010:Q4 to incorporate data from the 

National Credit Union Administration (NCUA) for all corporate 

credit unions. Previously, the Financial Accounts included only 

natural person credit unions and the U.S. Central Credit Union 

for this period. Additionally, U.S. Central Credit Union holdings 

of non-agency-related mortgage-backed securities, assetbacked securities, and commercial mortgage-backed securities 

have been reclassified from the instrument category agencyand GSE-backed securities to corporate and foreign bonds

based on NCUA Form 5310 data.

Foreign financial sector issuance of 

commercial paper in the United 

States

Foreign financial sector issuance of commercial paper in the 

United States (tables F.209 and L.209) has been revised back to 

2003:Q1 because of a change in the method for estimating 

foreign versus domestic issuance of asset-backed commercial 

paper. This change aligns the Financial Accounts with the BEA’s 

International Transactions Accounts measure of foreign 

issuance of commercial paper in the United States.

Depository institution loans n.e.c. The instrument category depository institution loans n.e.c. 

(tables F.215 and L.215) has been revised due to several

changes in methodology. First, depository institution loans n.e.c. 

to holding companies have been reclassified as corporate and 

foreign bonds (tables F.131, L.131, F.213 and L.213). 

Additionally, depository institution loans n.e.c. to the rest of the 

world sector (tables F.133 and L.133) have been changed in two 

ways: Loans to foreign banks have been reclassified as

interbank transactions (tables F.203 and L.203) to be consistent 

with the treatment recommended in the SNA2008 and,

beginning in 2010:Q1, loans to foreign non-depository financial 

institutions have been added to depository institution loans 

n.e.c. of the rest of the world sector.
v
vi

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 providing equity detail of 

the household and nonprofit organization sector 

and data on nonprofit organizations

■ 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 

year, and these revised factors are first published in the 

September release of second-quarter data. All series that 

exhibit significant seasonal patterns are adjusted. The 

seasonal factors are generated using the X-12-ARIMA 

seasonal adjustment program from the U.S. Census 

Bureau, estimated using the most recent 10 years of 

transaction data. Because the effects of the recent 

financial crisis resulted in large outliers in some series 

that would have distorted the estimated seasonal factors, 

seasonal factors for some series were extrapolated using 

pre-crisis data. Seasonally adjusted levels shown in table 

D.3 are derived by carrying forward year-end levels by 

seasonally adjusted transactions.

Explanatory Notes
vii

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; 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
viii
ix

Sector Table Available at time of publication

National income and product 

accounts (NIPA) 

(various tables) 

Second estimate, seasonally adjusted, for 2018:Q1. Unadjusted 

transactions through 2016:Q4 for the government sectors. Many 

BEA series are downloaded via Haver Analytics. 

Households and nonprofit

organizations sector

(tables F.101 and L.101)

Estimates for this sector are largely residuals and are derived 

from data for other sectors. Availability of data depends on 

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

estimated directly, are available through 2018:Q1. The source 

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

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

Data for nonprofit organizations are available annually for 1987 

through 2014.

Nonfinancial corporate business 

(tables F.103 and L.103)

Quarterly Financial Report (QFR) of the Census Bureau through 

2018:Q1; IRS/SOI data through 2016; securities offerings, 

mortgages, bank loans, commercial paper, and other loans 

through 2018:Q1. Corporate farm data through 2016.

Nonfinancial noncorporate business

(tables F.104 and L.104)

IRS/SOI data through 2014; bank and finance company loans, 

and mortgage borrowing through 2018:Q1. Noncorporate farm 

data through 2016.

Federal government

(tables F.106 and L.106)

Data from the Monthly Treasury Statement of Receipts and 

Outlays, Monthly Statement of the Public Debt, and loan 

programs through 2018:Q1.

State and local governments

(tables F.107 and L.107)

Gross offerings and retirements of municipal securities, deposits 

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

through 2018:Q1; total financial assets from Census Bureau

through 2015:Q2; additional financial asset detail from 

comprehensive annual financial reports of state and local 

governments through 2011:Q2.

Monetary authority

(tables F.109 and L.109)

All data through 2018:Q1.

U.S.-chartered depository 

institutions

(tables F.111 and L.111)

All data through 2018:Q1.

Foreign banking offices in U.S.

(tables F.112 and L.112)

All data through 2018:Q1.

Banks in U.S.-affiliated areas

(tables F.113 and L.113)

All data through 2018:Q1.

Credit unions

(tables F.114 and L.114)

Credit Union National Association and corporate credit union 

Call Report data through 2018:Q1. Credit union Call Report data 

through 2017:Q4.

Property-casualty insurance 

companies

(tables F.115 and L.115)

All data through 2018:Q1.

Description of Most Recent Data Available
x

Sector Table Available at time of publication

Life insurance companies

(tables F.116 and L.116)

All data through 2018:Q1.

Private pension funds

(tables F.118 and L.118)

Internal Revenue Service/Department of Labor Form 5500 data 

through 2016. Investment Company Institute data through 

2017:Q4. Annual actuarial liability data from the BEA through 

2016: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 2018:Q1. Annual actuarial 

liability data from the BEA through 2016:Q4.

State and local government 

employee retirement funds

(tables F.120 and L.120)

Detailed annual survey data through 2016:Q2 and quarterly 

survey data through 2017:Q4 from the Census Bureau. 

Investment Company Institute data through 2017:Q4. Annual 

actuarial liability data from the BEA through 2016:Q4.

Money market funds

(tables F.121 and L.121)

All data through 2018:Q1.

Mutual funds

(tables F.122 and L.122)

All data through 2018:Q1.

Closed-end funds

(tables F.123 and L.123)

All data through 2018:Q1.

Exchange-traded funds

(tables F.124 and L.124)

All data through 2018:Q1.

Government sponsored enterprises 

(GSEs)

(tables F.125 and L.125)

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

Mac, FCS, amd FHLB through 2018:Q1.

Agency- and GSE-backed 

mortgage pools

(tables F.126 and L.126)

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

through 2018:Q1.

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 2018:Q1.

Finance companies

(tables F.128 and L.128)

All data through 2018:Q1.

Real estate investment trusts 

(REITs)

(tables F.129 and L.129)

All data through 2018:Q1.

Security brokers and dealers

(tables F.130 and L.130)

Data for firms filing FOCUS and FOGS reports through 

2017:Q3. 

Holding companies

(table F.131 and L.131)

All data through 2018:Q1.

Funding corporations

(tables F.132 and L.132)

Estimates for this sector are largely residuals and are derived 

from data for other sectors.

Rest of the world

(tables F.133 and L.133)

NIPA estimates, bank Call Reports, and Treasury International 

Capital System through 2018:Q1. Balance of Payments and 

International Investment Position data through 2017:Q4.
xi

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

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

List of Data Tables
xii

Sectors

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

Funding Corporations F.132 48 L.132 110

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

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

Home 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
xiv

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

Nonfarm Noncorporate Business B.104 140 R.104 143

Title

Transactions Levels

Table Page Table Page

Supplementary Tables

Balance Sheet of Households and Nonprofit Organizations 

with Equity Detail B.101.e 144

Nonprofit Organizations F.101.a 145 L.101.a 146

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy—Current Account S.1.a 147

Selected Aggregates for Total Economy and Sectors S.2.a 148

Households and Nonprofit Institutions Serving Households S.3.a 150

Nonfinancial Noncorporate Business S.4.a 153

Nonfinancial Corporate Business S.5.a 156

Financial Business S.6.a 159

Central Bank S.61.a 162

 Private Depository Institutions S.62.a 164

 Insurance Companies S.63.a 167

 Pension Funds S.64.a 170

 Other Financial Business S.65.a 173

Federal Government S.7.a 176

State and Local Governments S.8.a 179

Rest of the World S.9.a 182
Summary

1

Z.1, June 7, 2018 Financial Accounts Matrix--Transactions for 2017

(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 -- 2409.5 -- 2099.6 -- -210.4 -- 159.6 -- 4458.2 -- 301.0 -- 488.6 -- 5247.8 -- 2 Capital consumption -- 1597.2 -- 1756.0 -- 273.8 -- 264.5 -- 3891.6 -- 217.3 -- -- -- 4108.9 -- 3 Net saving (1 less 2) -- 812.2 -- 343.5 -- -484.2 -- -104.9 -- 566.6 -- 83.8 -- 488.6 -- 1139.0 -- 4 Gross investment (5 plus 11) 2662.0 -- 1975.2 -- -155.8 -- 177.7 -- 4659.1 -- 497.1 -- 325.8 -- 5481.9 -- -234.15 Capital expenditures 2138.5 -- 2194.0 -- 282.3 -- 349.6 -- 4964.5 -- 253.7 -- -0.0 -- 5218.2 -- 29.66 Consumer durables 1383.8 -- -- -- -- -- -- -- 1383.8 -- -- -- -- -- 1383.8 -- -- 7 Residential 619.9 -- 129.3 -- 0.2 -- 5.7 -- 755.2 -- -1.7 -- -- -- 753.5 -- -- 8 Nonresidential 144.5 -- 2049.6 -- 282.6 -- 333.0 -- 2809.8 -- 255.4 -- -- -- 3065.2 -- -- 9 Inventory change -- -- 15.7 -- -- -- -- -- 15.7 -- -- -- -- -- 15.7 -- -- 10 Nonproduced nonfinancial assets -9.8 -- -0.6 -- -0.5 -- 10.9 -- 0.0 -- -- -- -0.0 -- -- -- -- 11 Net lending (+) or net borrowing (-) 523.5 -- -218.8 -- -438.2 -- -172.0 -- -305.5 -- 243.3 -- 325.8 -- 263.7 -- -263.712 Net acquisition of financial assets 1101.3 -- 1359.7 -- 235.3 -- 133.1 -- 2829.5 -- 3295.5 -- 1445.9 -- 7570.8 -- -- 13 Net increase in liabilities -- 577.8 -- 1578.5 -- 673.5 -- 305.1 -- 3134.9 -- 3052.2 -- 1120.1 -- 7307.2 -- 14 U.S. official reserve assets -- -- -- -- -1.7 0.0 -- -- -1.7 0.0 0.0 -- 0.0 -1.7 -1.7 -1.7 -- 15 SDR certificates -- -- -- -- -- 0.0 -- -- -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- 0.0 -- -- -- 0.0 0.8 -- -- -- 0.8 0.0 -0.817 Foreign deposits 10.9 -- 106.3 -- -- -- -- -- 117.1 -- 1.9 -- -- 226.5 119.0 226.5 107.518 Interbank claims -- -- -- -- -- -- -- -- -- -- 196.0 294.8 99.7 -- 295.7 294.8 -0.919 Checkable dep. and currency 42.7 -- 144.2 -- -170.2 -- 3.6 -- 20.4 -- 3.5 104.5 79.9 -- 103.8 104.5 0.720 Time and savings deposits 236.7 -- 68.1 -- 0.4 -- 14.5 -- 319.7 -- 23.2 359.9 17.0 -- 359.9 359.9 -- 21 Money market fund shares 30.4 -- -1.1 -- -- -- 8.3 -- 37.6 -- 76.9 119.2 4.7 -- 119.2 119.2 -- 22 Fed. funds and security repos -- -- -25.6 -- -- -- 6.6 -- -19.0 -- 287.3 70.2 43.6 -32.6 312.0 37.6 -274.423 Debt securities -109.8 1.6 37.8 303.1 0.0 447.0 56.1 -4.1 -16.0 747.6 833.4 396.2 676.9 350.5 1494.3 1494.3 -- 24 Open market paper -- -- 24.5 25.9 -- -- 2.8 -- 27.3 25.9 59.3 -35.5 -5.6 90.6 81.1 81.1 -- 25 Treasury securities -44.4 -- 3.3 -- -- 447.0 9.0 -- -32.1 447.0 155.5 -- 323.6 -- 447.0 447.0 -- 26 Agency- and GSE-backed sec. 56.7 -- -0.1 -- 0.0 -0.1 35.2 -- 91.9 -0.1 232.0 346.7 22.7 -- 346.6 346.6 -- 27 Municipal securities -47.1 1.6 10.1 13.1 -- -- 0.7 -4.1 -36.4 10.6 39.8 -- 7.2 -- 10.6 10.6 -- 28 Corporate and fgn. bonds -75.0 -- -- 264.2 0.0 -- 8.3 -- -66.7 264.2 346.9 85.0 328.8 259.9 609.0 609.0 -- 29 Loans -31.8 558.6 -0.6 467.0 100.2 0.0 10.7 0.4 78.6 1026.1 919.8 16.4 57.0 12.9 1055.4 1055.4 -- 30 Depository inst. loans n.e.c. -- 2.8 -- 76.2 -- -- -- -- -- 79.0 99.0 11.4 -- 8.6 99.0 99.0 -- 31 Other loans and advances -24.0 35.4 -- 130.0 2.4 -- -- 0.4 -21.6 165.8 136.7 1.9 57.0 4.3 172.0 172.0 -- 32 Mortgages -2.5 331.9 0.3 260.8 1.6 0.0 10.7 -- 10.1 592.7 585.6 3.1 -- -- 595.8 595.8 -- 33 Consumer credit -5.3 188.5 -0.9 -- 96.3 -- -- -- 90.1 188.5 98.5 -- -- -- 188.5 188.5 -- 34 Corporate equities 83.5 -- -- -378.8 -0.1 -- 4.4 -- 87.8 -378.8 -24.0 388.4 139.6 193.8 203.4 203.4 -- 35 Mutual fund shares 349.4 -- 5.4 -- -- -- 2.3 -- 357.1 -- -66.6 313.0 22.5 -- 313.0 313.0 -- 36 Trade credit 19.6 15.8 262.7 248.3 -1.0 24.0 17.7 42.5 299.1 330.7 9.6 -4.2 18.1 4.4 326.8 330.9 4.237 Life insurance reserves 7.6 -- -- -- -- -0.2 -- -- 7.6 -0.2 10.4 18.2 -- -- 18.1 18.1 -- 38 Pension entitlements 375.6 -- -- -- -- -- -- -- 375.6 -- -- 375.6 -- -- 375.6 375.6 -- 39 Taxes payable -- -- -- 216.0 297.6 -- 3.1 -- 300.6 216.0 -- 63.3 -- -- 300.6 279.4 -21.340 Equity in noncorp. business 44.1 -- -- 48.7 -- -- -- -- 44.1 48.7 -- -4.6 -- -- 44.1 44.1 -- 41 U.S. direct investment abroad -- -- 333.6 -- -- -- -- -- 333.6 -- 29.0 -- -- 362.6 362.6 362.6 -- 42 Foreign direct investment in U.S. -- -- -- 243.0 -- -- -- -- -- 243.0 -- 43.8 286.9 -- 286.9 286.9 -- 43 Miscellaneous 42.3 1.8 429.1 431.1 10.2 202.7 5.8 266.2 487.4 901.8 994.1 497.5 -- 3.6 1481.4 1402.8 -78.644 Sector discrepancies (1 less 4) -252.5 -- 124.3 -- -54.6 -- -18.1 -- -200.8 -- -196.0 -- 162.8 -- -234.1 -- -234.1General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

2

Z.1, June 7, 2018 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 -- 206000105 -- 386000105 -- 796000105 -- 266000105 -- 896000105 -- 2 Capital consumption -- 156300005 -- 146300005 -- 316300003 -- 206300003 -- 386300005 -- 796300005 -- -- -- 886300005 -- 3 Net saving (1 less 2) -- 156006305 -- 146006305 -- 316006305 -- 206006305 -- 386006305 -- 796006305 -- 266000105 -- 896006305 -- 4 Gross investment (5 plus 11) 155090005 -- 145090005 -- 315090005 -- 205090005 -- 385090005 -- 795090005 -- 265090005 -- 895090005 -- 9070050055 Capital expenditures 155050005 -- 145050005 -- 315050005 -- 205050005 -- 385050005 -- 795019005 -- 265420005 -- 895050005 -- 9060001056 Consumer durables 155111003 -- -- -- -- -- -- -- 155111003 -- -- -- -- -- 155111003 -- -- 7 Residential 155012005 -- 145012005 -- 315012065 -- 215012063 -- 385012005 -- 645012063 -- -- -- 885012005 -- -- 8 Nonresidential 165013005 -- 145013005 -- 315013005 -- 215013005 -- 385013005 -- 795013005 -- -- -- 885013005 -- -- 9 Inventory change -- -- 145020005 -- -- -- -- -- 145020005 -- -- -- -- -- 145020005 -- -- 10 Nonproduced nonfinancial assets 155420003 -- 105420005 -- 315420003 -- 205420003 -- 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 -- 154190005 -- 144190005 -- 314190005 -- 214190005 -- 384190005 -- 794190005 -- 264190005 -- 894190005 -- 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 -- 213030005 -- 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 262051003 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 893163005 893163005 -- 29 Loans 154023005 154123005 144023005 144123005 314023005 313165403 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 -- -- 213169203 383069005 383169005 793069005 793169005 263069500 263169005 893169005 893169005 -- 32 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 643165005 -- -- 893065005 893065005 -- 33 Consumer credit 163066223 153166000 143066005 -- 313066220 -- -- -- 383066005 153166000 793066005 -- -- -- 153166000 153166000 -- 34 Corporate equities 153064105 -- -- 103164103 313064105 -- 213064103 -- 383064105 103164103 793064105 793164105 263064105 263164103 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 663170003 263070003 263170003 893070005 893170005 90307000537 Life insurance reserves 153040005 -- -- -- -- 313140003 -- -- 153040005 313140003 793040005 543140005 -- -- 883140005 883140005 -- 38 Pension entitlements 153050005 -- -- -- -- -- -- -- 153050005 -- -- 153050005 -- -- 153050005 153050005 -- 39 Taxes payable -- -- -- 143178005 313078005 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 90307800540 Equity in noncorp. business 152090205 -- -- 112090205 -- -- -- -- 152090205 112090205 -- 662090205 -- -- 152090205 152090205 -- 41 U.S. direct investment abroad -- -- 103092005 -- -- -- -- -- 103092005 -- 793092005 -- -- 263192005 263192005 263192005 -- 42 Foreign direct investment in U.S. -- -- -- 143192005 -- -- -- -- -- 143192005 -- 793192005 263092001 -- 263092001 263092001 -- 43 Miscellaneous 153090005 543077073 143090005 143190005 313090005 313190005 213093003 223073045 383090005 383190005 793090005 793190005 -- 263190005 893090005 893190005 90309000544 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, June 7, 2018 Financial Accounts Matrix--Levels for 2017

(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 81234.6 -- 27507.4 -- 2544.4 -- 3346.0 -- 114632.5 -- 96857.2 -- 26896.7 -- 238386.3 -- -10499.42 Total liabilities and equity -- 15530.7 -- 66331.6 -- 19206.4 -- 5718.7 -- 106787.4 -- 99821.9 -- 21277.7 -- 227887.0 -- 3 Total liabilities -- 15530.7 -- 27699.9 -- 19206.4 -- 5718.7 -- 68155.7 -- 89871.2 -- 12250.7 -- 170277.5 -- 4 U.S. official reserve assets -- -- -- -- 91.0 50.3 -- -- 91.0 50.3 32.2 -- 50.3 112.1 173.4 162.4 -11.05 SDR certificates -- -- -- -- -- 5.2 -- -- -- 5.2 5.2 -- -- -- 5.2 5.2 -- 6 Treasury currency -- -- -- -- -- 25.3 -- -- -- 25.3 49.4 -- -- -- 49.4 25.3 -24.17 Foreign deposits 36.5 -- 197.0 -- -- -- -- -- 233.5 -- 3.7 -- -- 716.5 237.2 716.5 479.38 Interbank claims -- -- -- -- -- -- -- -- -- -- 2025.4 2168.1 157.2 -- 2182.6 2168.1 -14.59 Checkable dep. and currency 1151.5 -- 1455.7 -- 232.0 -- 96.2 -- 2935.3 -- 428.2 4214.4 847.7 -- 4211.2 4214.4 3.210 Time and savings deposits 9283.5 -- 1157.4 -- 1.9 -- 391.9 -- 10834.7 -- 287.0 11692.4 570.7 -- 11692.4 11692.4 -- 11 Money market fund shares 1053.4 -- 560.4 -- -- -- 190.2 -- 1804.0 -- 930.2 2847.3 113.1 -- 2847.3 2847.3 -- 12 Fed. Funds and security repos -- -- 83.9 -- -- -- 152.4 -- 236.2 -- 2892.5 2976.0 776.3 868.2 3905.0 3844.1 -60.913 Debt securities 4320.3 216.9 343.0 6131.8 0.5 16455.3 1449.8 3079.3 6113.6 25883.3 25542.3 13888.8 11423.0 3306.8 43078.9 43078.9 -- 14 Open market paper -- -- 185.2 206.7 -- -- 64.7 -- 249.9 206.7 579.1 238.1 136.9 521.2 965.9 965.9 -- 15 Treasury securities 1366.6 -- 109.7 -- -- 16430.9 722.6 -- 2198.9 16430.9 7921.7 -- 6310.3 -- 16430.9 16430.9 -- 16 Agency- and GSE-backed sec. 492.0 -- 13.7 -- 0.0 24.4 455.4 -- 961.1 24.4 6896.2 8842.8 1009.9 -- 8867.2 8867.2 -- 17 Municipal securities 1641.4 216.9 34.4 567.6 -- -- 15.4 3079.3 1691.2 3863.8 2071.1 -- 101.5 -- 3863.8 3863.8 -- 18 Corporate and fgn. bonds 820.4 -- -- 5357.6 0.5 -- 191.7 -- 1012.5 5357.6 8074.2 4808.0 3864.4 2785.6 12951.1 12951.1 -- 19 Loans 966.5 14915.8 111.7 8139.3 1467.0 0.0 237.6 18.2 2782.7 23073.4 22633.6 2068.0 260.3 535.2 25676.6 25676.6 -- 20 Depository inst. loans n.e.c. -- 293.1 -- 2309.5 -- -- -- -- -- 2602.6 3387.0 302.9 -- 481.5 3387.0 3387.0 -- 21 Other loans and advances 817.5 462.6 -- 1499.6 200.2 -- -- 18.2 1017.7 1980.4 2281.7 1525.5 260.3 53.7 3559.7 3559.7 -- 22 Mortgages 112.4 10327.4 69.8 4330.3 121.2 0.0 237.6 -- 541.0 14657.7 14356.2 239.5 -- -- 14897.2 14897.2 -- 23 Consumer credit 36.6 3832.7 41.8 -- 1145.6 -- -- -- 1224.0 3832.7 2608.7 -- -- -- 3832.7 3832.7 -- 24 Corporate equities 17949.5 -- -- 26873.4 33.2 -- 212.7 -- 18195.4 26873.4 20556.8 9887.4 7035.6 9027.0 45787.8 45787.8 -- 25 Mutual fund shares 8628.6 -- 276.5 -- -- -- 104.2 -- 9009.3 -- 6079.8 15899.0 809.9 -- 15899.0 15899.0 -- 26 Trade credit 296.2 364.8 3937.7 3187.7 64.0 320.2 223.5 947.2 4521.3 4820.0 154.2 32.5 193.7 51.6 4869.2 4904.0 34.827 Life insurance reserves 1387.3 -- -- -- -- 51.1 -- -- 1387.3 51.1 225.2 1561.4 -- -- 1612.5 1612.5 -- 28 Pension entitlements 23292.6 -- -- -- -- -- -- -- 23292.6 -- -- 23292.6 -- -- 23292.6 23292.6 -- 29 Taxes payable -- -- -- 373.7 458.6 -- 154.4 -- 613.0 373.7 -- 163.9 -- -- 613.0 537.6 -75.430 Equity in noncorp. business 11821.6 -- -- 11758.3 -- -- -- -- 11821.6 11758.3 -- 63.3 -- -- 11821.6 11821.6 -- 31 U.S. direct investment abroad -- -- 5562.7 -- -- -- -- -- 5562.7 -- 942.5 -- -- 6505.1 6505.1 6505.1 -- 32 Foreign direct investment in U.S. -- -- -- 3914.8 -- -- -- -- -- 3914.8 -- 744.2 4658.9 -- 4658.9 4658.9 -- 33 Miscellaneous 1047.2 33.1 13821.6 5952.6 196.4 2299.0 133.1 1674.0 15198.4 9958.7 14069.0 8322.7 -- 155.1 29267.4 18436.5 -10830.9General 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) and equity in noncorporate business (line 30). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
Summary

4 Z.1, June 7, 2018 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 -- 213030005 -- 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 262051003 262151003 892050005 892150005 90205000513 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894122005 894122005 -- 14 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 -- 313161105 313161105 -- 16 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893161705 893161705 -- 17 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 383162005 383162005 -- 18 Corporate and fgn. bonds 153063005 -- -- 103163003 313063763 -- 213063003 -- 383063005 103163003 793063005 793163005 263063005 263163005 893163005 893163005 -- 19 Loans 154023005 154123005 144023005 144123005 314023005 313165403 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 -- -- 213169203 383069005 383169005 793069005 793169005 263069500 263169005 893169005 893169005 -- 22 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 643165005 -- -- 893065005 893065005 -- 23 Consumer credit 163066223 153166000 143066005 -- 313066220 -- -- -- 383066005 153166000 793066005 -- -- -- 153166000 153166000 -- 24 Corporate equities 153064105 -- -- 103164103 313064105 -- 213064103 -- 383064105 103164103 793064105 793164105 263064105 263164103 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 663170003 263070003 263170003 893070005 893170005 90307000527 Life insurance reserves 153040005 -- -- -- -- 313140003 -- -- 153040005 313140003 793040005 543140005 -- -- 883140005 883140005 -- 28 Pension entitlements 153050005 -- -- -- -- -- -- -- 153050005 -- -- 153050005 -- -- 153050005 153050005 -- 29 Taxes payable -- -- -- 143178005 313078005 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 90307800530 Equity in noncorp. business 152090205 -- -- 112090205 -- -- -- -- 152090205 112090205 -- 662090205 -- -- 152090205 152090205 -- 31 U.S. direct investment abroad -- -- 103092005 -- -- -- -- -- 103092005 -- 793092005 -- -- 263192005 263192005 263192005 -- 32 Foreign direct investment in U.S. -- -- -- 143192005 -- -- -- -- -- 143192005 -- 793192005 263092001 -- 263092001 263092001 -- 33 Miscellaneous 153090005 543077073 143090005 143190005 313090005 313190005 213093003 223073045 383090005 383190005 793090005 793190005 -- 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) and equity in noncorporate business (line 30). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
S

u

m

m

a

r

Z.1, June 7, 2018 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 

Home Consumer Federal local financial

Total Total mortgage credit Total Corporate government governments sectors Foreign

 FG384104005 FG154104005 FG153165105 FG153166000 FG144104005 FG104104005 FG314104005 FG214104005 FG794104005 FG264104005

1980 9.6 8.8 10.9 1.0 9.9 8.2 11.9 6.9 15.3 12.5

1981 10.2 7.2 7.2 5.5 12.9 13.6 11.8 8.0 17.2 24.3

1982 10.2 5.6 4.8 5.0 9.2 9.2 19.1 11.2 13.4 18.2

1983 12.1 11.4 10.2 12.1 9.2 8.4 18.5 11.4 13.1 3.8

1984 14.8 12.6 11.4 18.4 16.1 16.6 16.8 11.4 17.7 11.5

1985 16.1 16.8 14.6 15.9 11.0 12.6 17.7 31.8 21.1 1.7

1986 12.0 11.4 13.7 9.1 11.5 13.9 13.9 10.9 24.9 2.6

1987 9.0 9.7 13.4 4.8 7.7 8.8 8.7 12.0 15.7 3.6

1988 9.2 9.8 11.8 6.7 9.9 11.0 8.6 6.0 12.9 0.5

1989 7.5 9.4 10.9 6.3 6.3 7.3 7.6 5.3 10.2 -0.2

1990 6.6 6.8 8.8 1.9 3.6 5.4 11.0 5.0 8.6 5.1

1991 4.7 5.6 7.0 -1.1 -2.1 -2.1 11.2 9.2 6.8 2.8

1992 4.7 5.2 6.5 1.1 -0.3 0.6 10.9 1.5 8.1 4.5

1993 5.8 6.1 5.5 7.4 3.1 5.2 8.4 5.3 11.3 15.6

1994 5.2 7.5 5.6 15.2 5.4 7.1 5.1 -3.9 13.5 -2.9

1995 4.8 6.9 4.9 14.4 5.9 6.6 4.2 -5.5 11.9 15.9

1996 5.3 7.0 6.2 9.0 5.5 5.2 4.8 -2.0 13.0 14.1

1997 5.6 6.5 6.1 5.5 8.5 8.6 1.5 4.9 12.1 10.4

1998 6.7 8.1 8.0 7.2 11.4 10.7 -0.3 6.2 19.5 4.9

1999 6.7 9.4 9.4 7.8 10.4 9.5 -0.7 3.3 16.7 2.8

2000 4.8 8.8 8.7 11.4 9.1 8.3 -6.3 1.4 11.7 7.4

2001 5.7 8.6 10.6 8.6 4.7 3.2 1.3 8.8 10.2 -1.3

2002 6.7 9.7 13.3 5.6 2.3 0.1 6.8 11.1 8.7 7.5

2003 7.8 12.3 14.5 5.3 1.0 -0.0 9.5 8.3 11.1 1.2

2004 9.1 11.6 13.4 5.6 5.8 3.3 8.3 11.4 9.5 8.4

2005 8.8 10.8 13.7 4.5 8.0 5.3 6.6 6.7 9.0 7.8

2006 8.5 10.5 11.2 5.2 10.0 7.7 3.9 4.4 10.4 21.4

2007 8.2 7.3 7.4 6.1 12.5 11.6 4.7 6.2 13.7 15.5

2008 5.8 0.1 0.9 1.3 5.7 4.0 21.4 1.4 4.6 -10.4

2009 3.6 0.4 0.8 -3.6 -4.0 -5.0 20.4 4.6 -9.6 14.6

2010 4.4 -0.6 -1.5 -1.1 -0.7 -0.8 18.5 2.5 -5.2 9.5

2011 3.7 -0.0 -0.7 4.2 2.7 5.4 10.8 -1.3 -2.2 7.2

2012 4.6 1.1 -0.7 5.9 4.5 4.5 10.1 -0.0 -2.7 8.4

2013 3.8 1.6 0.0 6.0 4.7 5.9 6.7 -1.7 1.7 9.5

2014 4.1 2.2 0.3 7.2 6.2 5.9 5.4 -1.2 2.1 8.5

2015 4.3 2.3 1.4 7.1 6.8 6.7 5.0 0.3 1.1 0.8

2016 4.5 3.3 2.5 6.8 5.5 5.0 5.6 1.0 2.8 1.8

2017 3.8 3.8 3.3 5.2 5.7 6.1 2.8 -0.1 2.6 10.9

2013 -- Q1 4.6 1.4 -0.2 6.5 3.7 4.5 10.0 0.3 -0.4 12.5

 Q2 2.1 0.8 -0.3 4.9 4.5 5.5 2.3 -2.1 1.4 5.6

 Q3 2.8 1.8 0.6 6.3 6.6 8.9 1.8 -2.5 -0.1 9.5

 Q4 5.5 2.5 0.1 5.8 3.7 4.2 12.1 -2.6 5.9 10.0

2014 -- Q1 4.1 1.1 0.0 7.1 6.1 5.9 6.8 -2.4 -0.5 5.2

 Q2 4.0 3.7 0.1 7.4 5.2 4.3 4.3 -0.7 2.1 16.2

 Q3 4.4 2.1 0.0 7.0 6.3 6.1 6.7 -2.7 3.6 3.0

 Q4 3.6 1.8 0.9 6.4 6.8 6.8 3.3 0.8 3.2 8.3

2015 -- Q1 2.8 1.8 0.5 6.6 7.4 8.3 0.3 1.5 -1.2 5.1

 Q2 4.6 3.7 1.9 7.5 8.2 8.6 3.4 0.3 1.9 2.4

 Q3 1.9 0.7 1.3 7.1 5.2 5.3 0.6 0.3 2.0 -3.7

 Q4 7.7 3.0 1.8 6.3 5.8 4.0 15.6 -0.9 1.6 -0.6

2016 -- Q1 5.5 2.4 1.7 6.7 9.2 10.5 6.2 0.7 3.7 -3.7

 Q2 4.4 3.7 2.6 6.3 4.1 3.2 5.7 2.2 3.8 1.1

 Q3 5.2 4.2 2.7 7.1 6.1 5.9 6.3 0.8 3.3 -0.5

 Q4 2.7 2.8 2.8 6.2 2.2 0.2 3.6 0.4 0.5 9.9

2017 -- Q1 1.8 3.9 3.8 5.1 6.1 7.4 -2.6 -3.3 1.9 8.7

 Q2 4.1 3.9 3.1 4.5 5.9 6.3 3.6 -1.2 3.5 5.4

 Q3 6.0 2.7 2.8 4.0 6.0 7.3 10.3 -0.2 3.5 12.5

 Q4 2.9 4.6 3.4 6.7 4.4 2.9 -0.2 4.3 1.6 14.5

2018 -- Q1 7.2 3.3 2.9 4.2 4.4 4.0 15.3 -4.2 0.1 13.7

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Households Business State and Domestic 

Home Consumer Federal local financial

Total Total mortgage credit Total Corporate government governments sectors Foreign

 FA384104005 FA154104005 FA153165105 FA153166000 FA144104005 FA104104005 FA314104005 FA214104005 FA794104005 FA264104005

1980 354.9 113.7 90.2 3.4 132.7 69.5 86.3 22.2 82.1 19.4

1981 414.4 101.6 67.0 19.8 189.7 125.0 95.5 27.6 106.7 42.8

1982 454.0 85.8 47.4 18.8 153.1 95.3 173.4 41.7 97.1 40.6

1983 594.6 181.7 105.2 48.2 165.8 94.5 199.8 47.3 107.5 10.3

1984 811.0 222.0 127.6 81.7 320.8 207.1 215.7 52.5 164.7 30.4

1985 1015.2 331.4 181.7 84.0 254.7 184.3 265.6 163.6 232.8 5.0

1986 879.2 264.6 199.4 55.8 294.9 227.7 245.5 74.2 333.6 7.7

1987 737.5 250.8 221.6 32.3 222.1 164.0 174.2 90.4 263.4 10.7

1988 821.3 273.9 215.6 46.6 309.1 225.0 187.9 50.4 252.5 1.6

1989 730.7 288.9 224.9 47.0 213.4 165.1 180.9 47.4 224.5 -0.6

1990 688.7 229.3 200.0 15.1 132.1 131.8 280.2 47.1 210.6 18.1

1991 531.8 204.5 174.5 -8.8 -80.5 -54.3 316.6 91.2 182.1 10.4

1992 548.0 199.1 173.0 9.2 -11.4 15.1 343.8 16.5 232.2 17.0

1993 708.6 244.7 156.3 61.4 112.7 133.4 293.2 57.9 351.5 61.7

1994 673.3 320.4 166.5 135.0 205.0 190.5 193.5 -45.5 468.4 -14.3

1995 659.3 318.3 153.6 147.0 236.5 191.1 165.3 -60.8 468.2 75.3

1996 758.8 346.6 205.1 105.7 232.7 162.2 200.0 -20.5 574.7 85.2

1997 840.4 345.3 215.9 70.3 381.0 279.0 63.4 50.8 601.9 71.6

1998 1065.4 453.1 301.5 97.1 556.9 377.9 -11.4 66.8 1088.0 37.7

1999 1141.6 568.7 379.2 112.4 565.8 372.0 -30.1 37.3 1112.4 22.3

2000 878.0 585.8 383.5 176.5 550.3 357.9 -275.0 16.9 909.3 57.1

2001 1094.0 622.5 508.2 150.6 310.8 147.3 55.2 105.5 887.9 -10.5

2002 1349.9 765.2 706.3 105.2 158.0 6.2 282.1 144.6 842.6 62.3

2003 1677.5 1064.5 874.9 105.9 71.7 -2.2 420.7 120.5 1171.4 11.7

2004 2117.6 1122.7 928.8 117.2 413.0 158.3 402.8 179.0 1091.9 95.6

2005 2292.4 1173.4 1080.1 100.4 604.8 263.0 346.9 167.3 1138.6 98.9

2006 2422.8 1268.4 998.9 120.1 818.6 403.2 219.1 116.7 1421.6 283.8

2007 2531.2 968.8 733.2 150.2 1121.0 657.7 270.4 171.0 2063.8 252.0

2008 1935.3 13.6 96.9 34.3 578.2 252.7 1302.5 41.0 793.6 -203.7

2009 1278.4 60.1 89.1 -94.6 -425.6 -328.5 1505.8 138.1 -1726.0 227.4

2010 1573.4 -85.0 -160.1 -28.2 -66.3 -46.8 1645.9 78.7 -857.7 186.8

2011 1367.4 -1.0 -67.9 110.3 270.1 326.9 1138.7 -40.3 -337.3 160.6

2012 1791.2 147.7 -69.6 163.2 463.7 288.4 1180.6 -0.8 -396.7 207.4

2013 1528.8 222.1 4.8 175.1 504.1 395.0 857.3 -54.7 250.7 269.2

2014 1699.0 300.4 26.4 221.2 701.3 417.5 735.9 -38.6 318.4 253.8

2015 1867.9 320.9 131.9 234.4 813.2 502.7 724.6 9.2 160.7 27.1

2016 2044.8 469.0 234.8 230.6 701.4 402.2 842.7 31.7 431.3 58.2

2017 1773.7 560.2 324.4 188.5 770.1 512.8 447.0 -3.7 412.6 363.4

2013 -- Q1 1874.0 188.6 -20.5 190.0 393.7 300.7 1283.0 8.7 -60.0 354.2

 Q2 837.2 111.2 -31.3 144.2 492.5 375.4 300.8 -67.3 210.8 162.4

 Q3 1128.1 248.6 58.5 190.3 722.0 611.2 236.1 -78.6 -21.1 267.8

 Q4 2276.0 340.0 12.4 176.0 408.2 292.8 1609.3 -81.6 872.9 292.6

2014 -- Q1 1700.7 157.5 1.4 218.8 688.0 414.6 929.9 -74.7 -76.1 155.4

 Q2 1677.4 507.5 13.2 232.1 588.3 306.9 601.9 -20.3 317.9 494.1

 Q3 1870.3 284.5 2.9 223.3 729.8 445.1 938.8 -82.8 544.9 98.1

 Q4 1547.8 252.1 88.2 210.4 799.2 503.3 473.1 23.4 486.7 267.8

2015 -- Q1 1212.3 247.1 47.6 218.8 880.0 620.2 38.5 46.7 -189.7 167.5

 Q2 2010.4 512.5 180.6 253.6 992.3 660.2 497.4 8.3 287.3 80.8

 Q3 840.4 99.7 124.3 244.6 648.7 411.9 81.6 10.4 301.6 -121.2

 Q4 3408.7 424.5 174.9 220.5 732.0 318.5 2280.8 -28.6 243.5 -18.8

2016 -- Q1 2469.1 339.3 161.7 230.4 1168.3 838.7 939.6 21.9 554.7 -120.3

 Q2 2006.6 525.4 248.3 218.0 538.7 264.0 873.7 68.8 583.8 37.0

 Q3 2422.8 604.2 256.0 251.4 803.9 490.8 990.2 24.6 511.5 -16.8

 Q4 1280.5 407.3 273.4 222.5 294.8 15.2 567.1 11.4 75.4 332.8

2017 -- Q1 860.4 562.8 373.0 187.1 814.7 617.1 -413.7 -103.5 297.5 289.0

 Q2 1932.0 581.4 305.0 164.5 810.1 542.3 577.7 -37.2 545.8 185.6

 Q3 2891.1 402.8 281.8 149.5 837.5 636.1 1655.7 -4.9 553.5 442.1

 Q4 1411.2 693.9 337.8 253.1 618.2 255.5 -31.9 131.0 253.4 537.0

2018 -- Q1 3512.8 503.5 287.5 162.1 620.9 357.5 2518.6 -130.2 15.3 527.4

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

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 Households Business State and Domestic 

Home Consumer Federal local financial

Total Total mortgage credit Total Corporate government governments sectors Foreign

 LA384104005 LA154104005 LA153165105 LA153166000 LA144104005 LA104104005 LA314104005 LA214104005 LA794104005 LA264104005

1980 4051.5 1420.2 926.5 358.0 1474.7 919.6 812.2 344.4 620.2 175.8

1981 4464.7 1526.6 998.3 377.9 1658.5 1038.7 907.7 372.1 723.6 222.5

1982 4900.3 1597.9 1031.2 396.7 1807.6 1129.9 1081.0 413.8 823.4 267.2

1983 5497.7 1759.6 1116.4 444.9 1996.2 1247.2 1280.8 461.1 931.1 265.0

1984 6308.4 1977.7 1243.3 526.6 2320.6 1458.0 1496.5 513.6 1104.5 287.3

1985 7341.7 2329.8 1450.2 610.6 2572.0 1638.9 1762.0 677.9 1338.2 290.1

1986 8218.0 2592.3 1649.0 666.4 2866.0 1865.8 2007.5 752.1 1679.8 298.6

1987 8937.1 2802.0 1828.6 698.6 3110.8 2052.6 2181.7 842.6 1955.5 309.0

1988 9754.5 3084.2 2054.8 745.2 3407.7 2265.8 2369.6 893.0 2208.1 350.9

1989 10502.2 3365.6 2260.1 809.3 3645.7 2455.5 2550.5 940.4 2461.1 354.2

1990 11218.2 3624.0 2489.3 824.4 3776.0 2585.5 2830.8 987.4 2674.9 368.3

1991 11746.7 3832.1 2667.4 815.6 3688.6 2526.6 3147.4 1078.6 2857.0 375.3

1992 12297.8 4031.2 2840.4 824.8 3680.4 2544.9 3491.1 1095.1 3104.7 395.5

1993 13021.2 4278.3 2999.1 886.2 3805.6 2690.7 3784.3 1153.0 3461.6 484.6

1994 13700.9 4598.6 3165.5 1021.2 4016.9 2887.6 3977.8 1107.5 3938.1 473.4

1995 14375.9 4917.0 3319.2 1168.2 4269.2 3094.5 4143.1 1046.7 4409.3 602.5

1996 15135.0 5276.3 3537.3 1273.9 4489.4 3244.3 4343.1 1026.2 4984.0 688.9

1997 15973.4 5621.7 3753.2 1344.2 4868.3 3521.3 4406.5 1076.9 5565.7 763.5

1998 17038.8 6074.8 4054.7 1441.3 5425.2 3899.1 4395.1 1143.8 6653.8 805.9

1999 18212.4 6641.1 4431.6 1553.6 6025.3 4305.5 4365.0 1181.0 7763.8 776.7

2000 19100.3 7236.8 4813.9 1741.3 6575.6 4663.3 4090.0 1197.9 8674.2 837.1

2001 20177.3 7859.3 5322.0 1891.8 6869.4 4793.7 4145.2 1303.4 9688.3 829.4

2002 21527.2 8624.6 6028.3 1997.0 7027.4 4799.8 4427.3 1447.9 10530.9 944.4

2003 23237.0 9707.3 6912.9 2102.9 7113.2 4811.7 4848.0 1568.4 11537.6 1139.7

2004 26138.4 10855.3 7856.6 2220.1 7550.3 4994.1 5250.9 2481.9 12644.3 1264.9

2005 28417.8 12028.7 8936.6 2320.6 8155.1 5257.1 5584.8 2649.3 13728.4 1325.2

2006 30855.0 13313.1 9935.6 2456.7 8972.0 5658.6 5803.9 2765.9 15117.0 1629.6

2007 33363.0 14253.8 10638.0 2609.5 10097.9 6322.8 6074.3 2937.0 17291.4 1959.4

2008 35159.7 14140.5 10607.9 2643.8 10664.5 6570.5 7376.8 2977.9 18004.2 1561.8

2009 36119.4 13977.5 10468.2 2555.0 10143.2 6157.8 8882.6 3116.0 16551.6 1968.5

2010 37446.7 13728.4 9985.4 2646.8 9995.0 6044.1 10528.6 3194.7 15335.2 2246.5

2011 38658.8 13579.5 9769.5 2757.1 10257.6 6371.0 11667.3 3154.5 14919.1 2466.7

2012 40348.5 13586.6 9558.4 2918.3 10760.4 6702.9 12847.8 3153.6 14707.1 2826.2

2013 41768.8 13720.2 9474.6 3093.4 11244.5 7082.5 13705.1 3098.9 14892.7 2972.8

2014 43420.5 13975.3 9455.8 3314.6 11943.8 7500.4 14441.1 3060.3 15191.5 3281.2

2015 45137.2 14159.9 9573.4 3413.6 12742.2 7992.8 15165.6 3069.5 15172.1 3223.1

2016 47145.5 14598.6 9777.9 3644.2 13437.5 8390.4 16008.3 3101.2 15580.6 3323.0

2017 48956.7 15132.8 10076.2 3832.7 14271.2 8968.0 16455.3 3097.5 15956.8 3842.0

2013 -- Q1 40789.2 13607.3 9526.8 2965.7 10857.5 6778.0 13168.6 3155.8 14676.5 2881.7

 Q2 40972.5 13610.3 9494.2 3001.8 10979.4 6871.9 13243.8 3139.0 14714.0 2833.2

 Q3 41232.3 13651.4 9487.7 3049.4 11158.8 7024.6 13302.8 3119.3 14695.5 2916.7

 Q4 41768.8 13720.2 9474.6 3093.4 11244.5 7082.5 13705.1 3098.9 14892.7 2972.8

2014 -- Q1 42179.1 13745.5 9460.9 3148.1 11415.7 7185.9 13937.6 3080.3 14865.1 3052.6

 Q2 42585.8 13860.4 9452.2 3206.1 11562.1 7262.6 14088.1 3075.2 14938.2 3241.5

 Q3 43036.2 13919.9 9441.4 3262.0 11739.0 7368.9 14322.8 3054.5 15073.3 3214.5

 Q4 43420.5 13975.3 9455.8 3314.6 11943.8 7500.4 14441.1 3060.3 15191.5 3281.2

2015 -- Q1 43705.6 14020.0 9450.6 3369.3 12162.9 7655.3 14450.7 3072.0 15137.3 3304.4

 Q2 44196.0 14136.5 9484.1 3432.7 12410.4 7820.4 14575.0 3074.1 15202.1 3277.0

 Q3 44396.1 14151.9 9505.7 3493.8 12572.1 7923.4 14595.4 3076.7 15270.8 3220.1

 Q4 45137.2 14159.9 9573.4 3413.6 12742.2 7992.8 15165.6 3069.5 15172.1 3223.1

2016 -- Q1 45744.9 14235.6 9604.7 3471.2 13033.8 8202.3 15400.5 3075.0 15305.0 3288.0

 Q2 46238.4 14359.2 9659.0 3525.7 13168.1 8268.3 15619.0 3092.2 15443.5 3349.3

 Q3 46836.1 14502.7 9715.4 3588.6 13368.6 8391.0 15866.5 3098.3 15566.0 3363.3

 Q4 47145.5 14598.6 9777.9 3644.2 13437.5 8390.4 16008.3 3101.2 15580.6 3323.0

2017 -- Q1 47418.4 14732.5 9864.4 3691.0 13705.7 8609.3 15904.9 3075.3 15629.4 3450.5

 Q2 47893.4 14870.3 9933.0 3732.1 13907.9 8744.9 16049.3 3066.0 15761.9 3546.6

 Q3 48609.7 14964.8 9997.3 3769.5 14116.9 8903.9 16463.2 3064.8 15896.6 3692.3

 Q4 48956.7 15132.8 10076.2 3832.7 14271.2 8968.0 16455.3 3097.5 15956.8 3842.0

2018 -- Q1 49831.1 15255.0 10144.5 3873.3 14426.2 9057.2 17084.9 3064.9 15958.6 3927.3

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

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL892090005 U.S. net wealth (1) 77609.2 78959.8 83883.2 92871.6 86306.6 87950.0 89993.3 92871.6 93089.4 1

 2 LM152010005 Households’ direct holdings of nonfinancial assets 28540.8 30279.8 32041.9 34036.1 32483.0 32998.3 33425.7 34036.1 34597.4 2

 3 LM155035005 Real estate 23035.7 24575.9 26172.2 27884.8 26506.5 26979.5 27347.2 27884.8 28374.4 3

 4 LM165015205 Equipment (nonprofits) 317.9 328.1 337.5 348.5 340.1 343.0 345.6 348.5 351.5 4

 5 LM165013765 Intellectual property products (nonprofits) 132.5 139.3 144.1 152.0 146.4 148.6 150.4 152.0 154.0 5

 6 LM155111005 Consumer durable goods 5054.6 5236.5 5388.1 5650.8 5489.9 5527.2 5582.6 5650.8 5717.5 6

 7 LM112010005 Nonfin. noncorporate businesses nonfinancial assets 11274.6 11964.1 12651.9 13385.7 12730.4 12987.1 13154.0 13385.7 13501.4 7

 8 LM115035005 Real estate 9917.4 10607.7 11274.3 11973.0 11337.3 11583.3 11750.9 11973.0 12069.9 8

 9 LM115015205 Equipment 838.1 860.5 882.1 896.5 885.6 889.4 892.5 896.5 900.6 9

 10 LM115013765 Intellectual property products 222.8 232.3 239.8 258.5 245.0 250.3 254.8 258.5 263.1 10

 11 LM115020005 Inventories 296.3 263.6 255.8 257.8 262.5 264.1 255.9 257.8 267.8 11

 12 LM662090205 Fin. noncorporate businesses nonfinancial assets (2) 40.6 45.4 61.0 63.3 62.6 61.8 63.0 63.3 61.1 12

 13 LM883164105 Market value of domestic corporations (3) 29968.4 28832.0 31418.9 36760.8 32971.5 33716.6 34883.7 36760.8 36239.8 13

 14 LM103164103 Nonfinancial corporate equity 22630.0 21521.1 23064.6 26873.4 24265.3 24683.5 25559.5 26873.4 26495.0 14

 15 LM793164105 Financial corporate equity 7338.4 7310.9 8354.3 9887.4 8706.3 9033.2 9324.1 9887.4 9744.8 15

 16 LM315015005 Federal government nonfinancial assets (4) 3264.0 3268.2 3313.7 3384.9 3330.9 3342.8 3364.3 3384.9 3414.0 16

 17 LM315014665 Structures 1510.4 1509.0 1543.4 1571.2 1548.4 1548.7 1562.6 1571.2 1585.0 17

 18 LM315013265 Equipment 746.0 744.5 748.1 757.0 749.1 752.1 751.6 757.0 761.7 18

 19 LM315013765 Intellectual property products 1007.5 1014.7 1022.2 1056.6 1033.4 1042.0 1050.2 1056.6 1067.4 19

 20 LM212010095 State and local governments nonfinancial assets (4) 9965.7 10098.5 10446.0 10859.9 10572.5 10653.3 10781.5 10859.9 11005.4 20

 21 LM215015605 Structures 9589.9 9718.4 10060.1 10465.6 10184.6 10262.7 10389.1 10465.6 10608.8 21

 22 LM215013265 Equipment 249.5 249.7 251.1 253.6 251.8 252.9 253.1 253.6 254.2 22

 23 LM215013765 Intellectual property products 126.3 130.4 134.8 140.6 136.1 137.7 139.3 140.6 142.4 23

 24 FL882090265 Net U.S. financial claims on the rest of the world -5444.9 -5528.1 -6050.2 -5618.9 -5844.4 -5809.9 -5678.9 -5618.9 -5729.7 24

 25 FL264194005 U.S. financial claims on the rest of the world 17536.1 17423.7 18102.5 21277.7 19029.1 19785.2 20648.5 21277.7 21171.2 25

 26 LM263164103 U.S. holdings of foreign corporate equities 6770.6 6756.2 6997.0 9027.0 7568.6 8068.2 8622.1 9027.0 8916.4 26

 27 FL264190005 Other U.S. financial claims 10765.5 10667.6 11105.5 12250.7 11460.5 11717.0 12026.4 12250.7 12254.8 27

 28 FL264090005 Less: Foreign financial claims on U.S. 22981.1 22951.8 24152.6 26896.7 24873.5 25595.1 26327.4 26896.7 26900.8 28

 29 LM263064105 Foreign holdings of U.S. corporate equities 5920.6 5500.9 5768.9 7035.6 6177.1 6311.5 6667.3 7035.6 7002.2 29

 30 FL264090035 Other foreign financial claims 17060.5 17450.9 18383.7 19861.0 18696.5 19283.6 19660.1 19861.0 19898.7 30

 Memo:

 31 FL892090005 A. U.S. net wealth (line 1) 77609.2 78959.8 83883.2 92871.6 86306.6 87950.0 89993.3 92871.6 93089.4 31

 32 FC892090005 Change in U.S. net wealth 4509.2 1350.7 4923.4 8988.4 2423.3 1643.5 2043.3 2878.3 217.8 32

 33 PC892090005 Percent change in U.S. net wealth 6.2 1.7 6.2 10.7 2.9 1.9 2.3 3.2 0.2 33

 34 FL152090005 B. Household net worth (5) 83516.9 86535.5 91955.4 99740.0 94138.0 95482.3 97266.2 99740.0 100768.3 34

 35 FC152090005 Change in household net worth 4964.6 3018.6 5419.9 7784.6 2182.5 1344.4 1783.8 2473.8 1028.3 35

 36 PC152090005 Percent change in household net worth 6.3 3.6 6.3 8.5 2.4 1.4 1.9 2.5 1.0 36

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

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

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

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

 because of differences in the valuation of assets.

(4) Excludes land and nonproduced nonfinancial assets.

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA086902005 Gross domestic product (GDP) 17427.6 18120.7 18624.5 19390.6 19057.7 19250.0 19500.6 19754.1 19956.8 1

 2 FA156901001 Personal consumption expenditures (2) 11863.7 12332.3 12820.7 13395.5 13191.6 13307.0 13429.1 13654.3 13775.9 2

 3 FA155011001 Durable goods 1296.4 1367.1 1411.0 1473.8 1443.2 1456.6 1477.6 1517.8 1501.7 3

 4 FA156901035 Nondurable goods 2674.1 2666.0 2710.4 2821.5 2787.6 2790.6 2823.8 2884.0 2914.8 4

 5 FA156901041 Services 7893.2 8299.1 8699.3 9100.2 8960.7 9059.8 9127.7 9252.5 9359.4 5

 6 FA835019905 Gross private domestic investment 2916.4 3093.6 3057.2 3212.8 3128.7 3178.1 3249.2 3295.3 3378.1 6

 7 FA835019005 Fixed investment (3) 2838.4 2981.6 3022.1 3197.2 3128.9 3173.3 3207.3 3279.2 3355.7 7

 8 FA835013001 Nonresidential 2268.3 2336.2 2316.3 2449.6 2383.4 2433.6 2468.4 2513.0 2577.1 8

 9 FA165013005 Nonprofit organizations (4) 137.1 146.4 151.4 144.5 141.8 142.5 145.3 148.5 151.3 9

 10 FA105013005 Nonfinancial corporate business 1628.6 1665.9 1632.1 1720.2 1674.9 1708.9 1733.1 1764.0 1808.2 10

 11 FA115013005 Nonfinancial noncorporate business 280.1 281.7 282.8 329.4 314.4 329.1 333.6 340.6 352.9 11

 12 FA795013005 Financial institutions 222.5 242.3 250.0 255.4 252.2 253.1 256.4 260.0 264.7 12

 13 FA835012001 Residential 570.2 645.4 705.9 747.6 745.5 739.7 738.9 766.2 778.7 13

 14 FA155012005 Household sector 473.8 535.1 585.2 619.9 620.6 613.6 610.0 635.5 641.2 14

 15 FA105012005 Nonfinancial corporate business -0.6 8.4 3.6 11.2 13.2 6.4 18.5 6.8 12.3 15

 16 FA115012005 Nonfinancial noncorporate business 89.1 101.9 111.6 118.1 118.2 116.9 116.2 121.2 121.8 16

 17 FA645012063 REITs 7.8 -0.0 5.5 -1.7 -6.5 2.9 -5.9 2.7 3.4 17

 18 FA145020005 Change in private inventories 78.0 111.9 35.1 15.7 -0.1 4.9 41.9 16.0 22.4 18

 19 FA105020005 Nonfinancial corporate business 70.1 96.4 30.6 12.1 -1.6 4.0 34.1 11.8 17.4 19

 20 FA115020005 Nonfinancial noncorporate business 7.8 15.5 4.5 3.6 1.5 0.8 7.8 4.3 4.9 20

 21 FA266903005 Net U.S. exports of goods and services -509.5 -524.0 -521.2 -571.6 -582.8 -567.2 -534.1 -602.0 -640.7 21

 22 FA266903011 Exports 2373.6 2264.9 2214.6 2344.0 2295.6 2314.9 2345.9 2419.6 2468.3 22

 23 FA266903001 - Imports 2883.2 2789.0 2735.8 2915.6 2878.4 2882.1 2880.1 3021.6 3109.0 23

 Government consumption expenditures and

 24 FA366902005 gross investment 3157.0 3218.9 3267.8 3353.8 3320.2 3332.1 3356.5 3406.6 3443.5 24

 25 FA366901005 Consumption expenditures (5) 2562.7 2610.8 2658.1 2732.2 2701.3 2714.5 2740.9 2772.2 2801.3 25

 26 FA316901001 Federal 954.5 960.0 964.5 977.8 968.0 970.8 981.1 991.5 1005.3 26

 27 FA206901001 State and local 1608.2 1650.8 1693.6 1754.4 1733.4 1743.7 1759.8 1780.8 1796.0 27

 28 FA365019005 Gross investment (5) 594.4 608.1 609.7 621.6 618.9 617.5 615.6 634.3 642.2 28

 29 FA315019001 Federal 263.7 264.0 267.0 282.8 276.4 285.0 282.5 287.4 292.0 29

 30 FA205019001 State and local 330.7 344.1 342.7 338.8 342.5 332.5 333.1 346.9 350.3 30

 Memo:

 31 FA266904005 Net U.S. income receipts from rest of world 234.5 204.5 197.1 216.8 214.3 202.4 228.3 222.3 216.2 31

 32 FA266904001 U.S. income receipts 847.2 812.9 844.3 934.7 895.9 914.8 952.1 975.9 1011.9 32

 33 FA266904101 - U.S. income payments 612.6 608.4 647.2 717.9 681.7 712.4 723.9 753.6 795.6 33

 Gross national product (GNP) =

 34 FA086902105 GDP + net U.S. income receipts 17662.1 18325.2 18821.6 19607.4 19272.0 19452.4 19728.9 19976.4 20173.1 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 FA155420003 Household sector -8.5 -9.2 -9.4 -9.8 -9.6 -9.7 -9.8 -10.0 -10.1 35

 36 FA105420005 Nonfinancial corporate business 1.7 29.6 7.5 -0.6 -0.7 -0.5 -0.9 -0.4 -0.6 36

 37 FA315420003 Federal government -2.6 -30.7 -8.6 -0.5 -0.4 -0.6 -0.3 -0.7 -0.5 37

 38 FA205420003 State and local governments 9.5 10.2 10.5 10.9 10.7 10.8 10.9 11.1 11.3 38

 39 FA265420005 Rest of the world -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 -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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA086010005 National income 15144.0 15739.6 16052.0 16609.8 16388.2 16498.7 16710.8 16841.7 17027.5 1

 2 FA156025105 Compensation of employees 9256.5 9708.3 9978.6 10309.3 10166.3 10243.0 10356.1 10471.7 10607.9 2

 3 FA156020101 Wages and salaries 7476.8 7858.9 8085.2 8353.2 8232.1 8295.2 8392.6 8493.0 8612.4 3

 4 FA156401101 Supplements to wages and salaries 1779.7 1849.4 1893.4 1956.1 1934.2 1947.9 1963.5 1978.7 1995.5 4

 5 FA146111105 Proprietors’ income with IVA and CCAdj 1315.8 1318.8 1341.9 1386.0 1380.2 1378.6 1381.9 1403.1 1420.0 5

 6 FA116112103 Rental income of persons with CCAdj 611.7 662.5 707.3 743.9 730.8 740.3 747.2 757.4 761.7 6

 7 FA096060035 Corporate profits with IVA and CCAdj 2140.6 2117.5 2073.5 2164.6 2109.0 2123.4 2213.7 2212.5 2200.1 7

 8 FA096060025 Corporate profits with IVA 2253.2 2210.9 2161.6 2198.6 2201.8 2220.8 2311.3 2060.4 2058.6 8

 9 FA096060005 Profits before tax 2249.1 2158.5 2158.9 2247.7 2276.8 2254.3 2333.8 2125.8 2140.0 9

 10 FA106060005 Domestic nonfinancial 1367.6 1275.7 1262.4 1303.0 1326.8 1348.9 1349.4 1186.9 1193.3 10

 11 FA796060005 Domestic financial 483.9 497.9 501.8 511.9 523.7 489.9 536.9 497.3 500.7 11

 12 FA266060005 Rest of the world 397.5 385.0 394.7 432.8 426.3 415.5 447.5 441.6 446.0 12

 Less:

 13 FA096231001 Taxes on corporate income 505.3 507.4 471.0 466.7 466.3 479.6 475.5 445.6 328.2 13

 14 FA106231005 Domestic nonfinancial 291.8 281.1 274.1 279.0 277.5 294.1 289.4 255.0 164.6 14

 15 FA796231003 Domestic financial 213.6 226.3 196.9 187.8 188.8 185.5 186.1 190.6 163.5 15

 Equals:

 16 FA096060015 Profits after tax 1743.8 1651.1 1687.9 1781.0 1810.5 1774.7 1858.4 1680.3 1811.8 16

 17 FA096121073 Net dividends 986.4 1039.9 981.9 990.2 988.1 994.2 998.6 979.9 983.3 17

 18 FA106121075 Domestic nonfinancial 598.3 651.8 685.2 707.3 696.2 728.7 649.9 754.3 -169.9 18

 19 FA796121073 Domestic financial 240.2 246.9 137.0 124.9 122.2 127.4 113.7 136.4 -33.5 19

 20 FA266121073 Rest of the world 147.9 141.3 159.6 158.0 169.6 138.1 235.0 89.2 1186.7 20

 21 FA096006401 Undistributed profits 757.4 611.2 706.0 790.8 822.4 780.5 859.8 700.4 828.5 21

 22 FA106006405 Domestic nonfinancial 477.5 342.9 303.0 316.7 353.1 326.1 410.1 177.6 1198.7 22

 23 FA796006403 Domestic financial 30.2 24.7 167.9 199.3 212.7 177.0 237.1 170.3 370.6 23

 24 FA266006403 Rest of the world 249.7 243.7 235.1 274.8 256.7 277.5 212.5 352.4 -740.7 24

 25 FA105020601 Inventory valuation adjustment (IVA) 4.1 52.4 2.7 -49.1 -75.0 -33.6 -22.6 -65.4 -81.4 25

 26 FA096310003 Capital consumption adjustment (CCAdj) -112.6 -93.5 -88.2 -33.9 -92.8 -97.4 -97.6 152.2 141.5 26

 27 FA106310005 Domestic nonfinancial -75.0 -52.3 -41.0 7.7 -44.6 -49.0 -50.1 174.6 165.1 27

 28 FA796310003 Domestic financial -37.6 -41.2 -47.2 -41.6 -48.2 -48.3 -47.5 -22.4 -23.6 28

 29 FA086130003 Net interest and miscellaneous payments 535.0 583.4 570.6 586.4 588.2 598.3 599.8 559.4 553.1 29

 30 FA366240005 Taxes on production and imports 1221.6 1255.8 1288.0 1330.1 1309.2 1321.3 1331.4 1358.4 1388.0 30

 31 FA366402005 Less: Subsidies 58.1 57.3 61.8 61.3 61.0 60.1 61.4 62.7 58.9 31

 32 FA146403005 Business current transfer payments (net) 138.9 165.0 164.0 161.8 176.5 164.6 152.7 153.5 169.7 32

 33 FA156403101 To persons (net) 45.6 53.1 57.4 59.5 58.4 59.2 59.9 60.7 61.6 33

 34 FA366403145 To government (net) 102.2 112.4 105.9 99.2 116.8 93.0 93.5 93.5 103.3 34

 35 FA266403101 To rest of the world (net) -9.0 -0.6 0.7 3.1 1.3 12.4 -0.7 -0.6 4.7 35

 36 FA366402105 Current surplus of government enterprises -17.9 -14.3 -10.1 -11.0 -11.0 -10.7 -10.6 -11.7 -14.3 36

 Memo:

 Calculation of gross domestic product

 from National income:

 37 FA086010005 National Income, from line 1 above 15144.0 15739.6 16052.0 16609.8 16388.2 16498.7 16710.8 16841.7 17027.5 37

 Plus:

 38 FA836300005 Private consumption of fixed capital 2231.1 2319.6 2390.5 2496.4 2452.5 2484.0 2512.1 2537.1 2572.6 38

 39 FA366300005 Government consumption of fixed capital 516.9 521.9 526.2 538.3 533.6 536.7 540.0 542.9 547.8 39

 40 FA087005005 Statistical discrepancy -229.9 -255.9 -147.2 -37.1 -102.4 -67.0 -34.0 54.8 25.1 40

 Less:

 41 FA266904005 Net U.S. income receipts from rest of world 234.5 204.5 197.1 216.8 214.3 202.4 228.3 222.3 216.2 41

 Equals:

 42 FA086902005 Gross domestic product (2) 17427.6 18120.7 18624.5 19390.6 19057.7 19250.0 19500.6 19754.1 19956.8 42

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

(2) The relationship of National income (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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA886000115 Gross saving 3356.7 3507.0 3353.2 3386.6 3362.7 3348.9 3483.5 3351.2 3426.2 1

 2 FA896006005 Net saving 608.6 665.5 436.5 351.9 376.6 328.2 431.4 271.2 305.7 2

 3 FA836006005 Net private saving 1387.7 1398.5 1301.1 1195.1 1209.2 1175.3 1223.2 1172.8 1350.0 3

 4 FA826006005 Domestic business 648.9 570.1 620.6 707.7 654.6 649.6 739.6 787.1 888.7 4

 5 FA106012005 Nonfinancial corporate business 619.2 548.2 467.3 476.0 449.4 465.5 476.4 512.6 592.4 5

 6 FA796012005 Financial business 29.7 22.0 153.3 231.7 205.2 184.1 263.2 274.5 296.3 6

 7 FA156006005 Households and institutions 738.8 828.4 680.6 487.4 554.6 525.7 483.7 385.7 461.3 7

 8 FA366006005 Net government saving -779.1 -733.0 -864.7 -843.3 -832.6 -847.1 -791.8 -901.6 -1044.3 8

 9 FA316006005 Federal -610.2 -586.7 -697.3 -664.4 -652.8 -641.9 -617.0 -746.0 -910.0 9

 10 FA206006005 State and local -168.9 -146.4 -167.4 -178.8 -179.8 -205.2 -174.8 -155.6 -134.3 10

 11 FA886300095 Consumption of fixed capital 2748.0 2841.5 2916.7 3034.7 2986.2 3020.7 3052.1 3080.0 3120.5 11

 12 FA836300005 Private 2231.1 2319.6 2390.5 2496.4 2452.5 2484.0 2512.1 2537.1 2572.6 12

 13 FA826300003 Domestic business 1775.0 1846.9 1895.3 1973.3 1940.9 1964.2 1984.3 2003.9 2029.3 13

 14 FA106300003 Nonfinancial corporate business 1285.7 1336.1 1364.9 1422.5 1399.5 1416.1 1430.4 1444.1 1461.6 14

 15 FA116300001 Nonfinancial noncorporate business 299.0 310.9 320.7 335.3 329.5 333.4 337.4 340.8 345.4 15

 16 FA796300081 Financial business 190.3 199.9 209.6 215.5 212.0 214.7 216.5 219.0 222.3 16

 17 FA156300003 Households and institutions 456.1 472.7 495.3 523.1 511.6 519.8 527.8 533.2 543.3 17

 18 FA366300005 Government 516.9 521.9 526.2 538.3 533.6 536.7 540.0 542.9 547.8 18

 19 FA316300003 Federal 271.0 271.3 271.3 273.8 272.8 273.6 273.9 274.9 276.7 19

 20 FA206300003 State and local 245.9 250.6 254.9 264.5 260.8 263.2 266.1 268.0 271.2 20

 Gross domestic investment, capital account

 21 FA885090015 transactions, and net lending, NIPAs 3126.7 3251.1 3206.0 3349.4 3260.3 3282.0 3449.5 3406.0 3451.3 21

 22 FA885019905 Gross domestic investment 3510.8 3701.7 3666.9 3834.4 3747.7 3795.7 3864.7 3929.6 4020.3 22

 23 FA835019905 Gross private domestic investment 2916.4 3093.6 3057.2 3212.8 3128.7 3178.1 3249.2 3295.3 3378.1 23

 24 FA825019905 Domestic business 2305.4 2412.1 2320.6 2448.4 2366.3 2422.0 2493.9 2511.3 2585.7 24

 25 FA105019985 Nonfinancial corporate business 1706.0 1770.7 1671.8 1772.7 1703.6 1755.0 1813.5 1818.6 1880.5 25

 26 FA115050085 Nonfinancial noncorporate business 377.0 399.1 398.9 420.3 410.5 413.9 424.0 432.7 440.5 26

 27 FA795013005 Financial business 222.5 242.3 250.0 255.4 252.2 253.1 256.4 260.0 264.7 27

 28 FA155019005 Households and institutions 611.0 681.5 736.6 764.5 762.4 756.1 755.3 784.0 792.4 28

 29 FA365019005 Gross government investment 594.4 608.1 609.7 621.6 618.9 617.5 615.6 634.3 642.2 29

 30 FA315019001 Federal 263.7 264.0 267.0 282.8 276.4 285.0 282.5 287.4 292.0 30

 31 FA205019001 State and local 330.7 344.1 342.7 338.8 342.5 332.5 333.1 346.9 350.3 31

 32 FA265430003 Capital account transactions (net) (2) 0.4 0.4 0.4 3.6 0.4 0.4 13.2 0.4 0.2 32

 33 FA835430005 Private 5.8 38.5 17.3 245.2 8.2 9.4 -47.2 1010.6 9.9 33

 34 FA825430005 Domestic business 5.0 26.4 12.0 277.8 24.6 -2.0 90.2 998.5 -1.7 34

 35 FA105430005 Nonfinancial corporate business -5.0 26.4 10.2 179.7 -3.0 -2.0 -104.9 828.5 -1.7 35

 36 FA115440005 Nonfinancial noncorporate business 0.0 0.0 0.0 -13.1 0.0 0.0 -52.3 0.0 0.0 36

 37 FA795440005 Financial business 10.0 0.0 1.8 111.2 27.6 0.0 247.4 170.0 0.0 37

 38 FA155430005 Households and institutions 0.8 12.1 5.4 -32.6 -16.4 11.4 -137.4 12.0 11.6 38

 39 FA365430005 Government -5.4 -38.1 -16.9 -241.6 -7.8 -9.0 60.4 -1010.2 -9.7 39

 40 FA315430005 Federal 55.7 20.6 45.0 -178.6 53.7 54.0 128.1 -950.1 50.8 40

 41 FA205430005 State and local -61.2 -58.7 -61.9 -63.1 -61.5 -63.0 -67.7 -60.1 -60.5 41

 42 FA885000905 Net lending (+) or net borrowing (-), NIPAs (3) -384.4 -451.0 -461.4 -488.6 -487.7 -514.1 -428.4 -524.0 -569.2 42

 43 FA835000905 Private 466.7 330.1 470.0 196.3 422.4 404.8 499.4 -541.2 559.8 43

 44 FA825000905 Domestic business -116.5 -277.4 36.1 -82.3 102.2 126.8 105.9 -664.1 359.1 44

 45 FA105000995 Nonfinancial corporate business (3) -26.0 -168.8 3.1 -91.0 45.9 61.6 164.2 -635.6 200.3 45

 46 FA115000905 Nonfinancial noncorporate business -78.0 -88.2 -78.2 -71.9 -81.0 -80.5 -34.2 -91.9 -95.1 46

 47 FA795000905 Financial business -12.5 -20.4 111.2 80.6 137.3 145.6 -24.1 63.4 253.9 47

 48 FA155000905 Households and institutions 583.2 607.5 433.9 278.6 320.2 278.0 393.5 122.8 200.6 48

 49 FA365000905 Government -851.1 -781.1 -931.4 -684.9 -910.2 -918.9 -927.8 17.2 -1129.0 49

 50 FA315000905 Federal -658.6 -600.0 -738.0 -494.9 -710.0 -707.4 -753.7 191.6 -976.1 50

 51 FA205000905 State and local -192.5 -181.2 -193.4 -190.0 -200.1 -211.5 -174.1 -174.4 -152.9 51

 52 FA087005005 Statistical discrepancy (line 21 less line 1) -229.9 -255.9 -147.2 -37.1 -102.4 -67.0 -34.0 54.8 25.1 52

 Addenda:

 53 FA895404005 Disaster losses 0.0 0.0 0.0 131.4 0.0 0.0 525.8 0.0 0.0 53

 54 FA835404005 Private 0.0 0.0 0.0 121.0 0.0 0.0 484.0 0.0 0.0 54

 55 FA825404003 Domestic business 0.0 0.0 0.0 36.0 0.0 0.0 144.0 0.0 0.0 55

 56 FA155404003 Households and institutions 0.0 0.0 0.0 85.0 0.0 0.0 340.0 0.0 0.0 56

 57 FA365404005 Government 0.0 0.0 0.0 10.4 0.0 0.0 41.8 0.0 0.0 57

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

 59 FA215404003 State and local 0.0 0.0 0.0 10.4 0.0 0.0 41.8 0.0 0.0 59

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA895410005 Capital transfers paid, by sector 111.0 96.9 105.6 461.5 129.7 103.3 510.6 1102.4 102.5 1

 2 FA825410005 By private business 10.0 0.0 6.5 321.6 27.6 0.0 258.7 1000.0 0.0 2

 3 FA795410005 Financial corporations 10.0 0.0 1.8 114.1 27.6 0.0 258.7 170.0 0.0 3

 4 FA515410073 Disaster-related insurance benefits 0.0 0.0 0.0 64.7 0.0 0.0 258.7 0.0 0.0 4

 5 FA795410003 Other 10.0 0.0 1.8 49.4 27.6 0.0 0.0 170.0 0.0 5

 6 FA105410003 Nonfinancial corporations 0.0 0.0 4.7 207.5 0.0 0.0 0.0 830.0 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 77.2 71.6 73.7 95.1 75.4 76.2 155.1 73.5 73.9 8

 9 FA315410005 Federal 77.2 71.6 73.7 93.8 75.4 76.2 150.2 73.5 73.9 9

 10 FA205400033 Investment grants to state and local govts. 65.7 63.8 66.9 66.5 66.7 68.3 65.8 65.2 65.7 10

 11 FA315410073 Disaster-related insurance benefits 0.0 0.0 0.0 19.0 0.0 0.0 76.0 0.0 0.0 11

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

 13 FA315410043 Other capital transfers paid to business 6.7 3.2 2.1 1.7 2.3 1.5 2.0 1.1 1.1 13

 14 FA315410053 Other capital transfers paid to persons 4.5 4.1 4.2 6.2 6.0 6.0 6.0 6.9 6.9 14

 15 FA315410063 Capital transfers paid to rest of world (net) 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.3 0.2 15

 16 FA205410073 State and local 0.0 0.0 0.0 1.2 0.0 0.0 4.9 0.0 0.0 16

 17 FA205410073 Disaster-related insurance benefits 0.0 0.0 0.0 1.2 0.0 0.0 4.9 0.0 0.0 17

 18 FA155410035 By persons 23.8 25.4 25.5 27.5 26.7 27.1 27.3 28.9 28.6 18

 19 FA315400053 Estate and gift taxes, federal 18.8 20.2 20.0 21.9 21.3 21.6 21.8 22.9 22.6 19

 20 FA205400053 Estate and gift taxes, state and local 5.0 5.2 5.5 5.6 5.5 5.5 5.6 6.0 6.0 20

 21 FA265410005 By the rest of the world 0.0 0.0 0.0 17.4 0.0 0.0 69.4 0.0 0.0 21

 22 FA265410073 Disaster-related insurance benefits 0.0 0.0 0.0 17.4 0.0 0.0 69.4 0.0 0.0 22

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

 24 FA895400005 Capital transfers received, by sector 111.0 96.9 105.6 461.5 129.7 103.3 510.6 1102.4 102.5 24

 25 FA825400005 By private business 6.7 3.2 2.1 43.2 2.3 1.5 167.7 1.1 1.1 25

 26 FA795400005 Financial corporations 0.0 0.0 0.0 2.8 0.0 0.0 11.3 0.0 0.0 26

 27 FA515400073 Disaster-related insurance benefits 0.0 0.0 0.0 2.8 0.0 0.0 11.3 0.0 0.0 27

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

 29 FA105400005 Nonfinancial corporations 6.7 3.2 2.1 27.2 2.3 1.5 104.0 1.1 1.1 29

 30 FA105400073 Disaster-related insurance benefits 0.0 0.0 0.0 25.5 0.0 0.0 102.0 0.0 0.0 30

 31 FA105400003 Other 6.7 3.2 2.1 1.7 2.3 1.5 2.0 1.1 1.1 31

 32 FA115400005 Noncorporate business -0.0 0.0 0.0 13.1 0.0 0.0 52.3 0.0 0.0 32

 33 FA115400075 Disaster-related insurance benefits 0.0 0.0 0.0 13.1 0.0 0.0 52.3 0.0 0.0 33

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

 35 FA365400005 By government 89.5 89.2 92.5 347.1 93.4 95.4 105.4 1094.1 94.3 35

 36 FA315400005 Federal 18.8 20.2 20.0 271.9 21.3 21.6 21.8 1022.9 22.6 36

 37 FA315400053 Estate and gift taxes paid by persons 18.8 20.2 20.0 21.9 21.3 21.6 21.8 22.9 22.6 37

 38 FA315400003 Other 0.0 0.0 0.0 250.0 0.0 0.0 0.0 1000.0 0.0 38

 39 FA205400005 State and local 70.7 69.0 72.4 75.2 72.2 73.8 83.6 71.2 71.7 39

 40 FA205400073 Disaster-related insurance benefits 0.0 0.0 0.0 3.0 0.0 0.0 12.2 0.0 0.0 40

 41 FA205400053 Estate and gift taxes paid by persons 5.0 5.2 5.5 5.6 5.5 5.5 5.6 6.0 6.0 41

 42 FA205400033 Investment grants paid by federal government 65.7 63.8 66.9 66.5 66.7 68.3 65.8 65.2 65.7 42

 43 FA205400003 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 FA155400005 By persons 14.5 4.1 10.7 50.3 33.6 6.0 154.9 6.9 6.9 44

 45 FA155400073 Disaster-related insurance benefits 0.0 0.0 0.0 37.2 0.0 0.0 148.9 0.0 0.0 45

 46 FA155400003 Other 14.5 4.1 10.7 13.1 33.6 6.0 6.0 6.9 6.9 46

 47 FA265400005 By the rest of the world 0.4 0.4 0.4 20.9 0.4 0.4 82.6 0.3 0.2 47

 48 FA265400033 Capital transfers paid by U.S. government 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.3 0.2 48

 49 FA265400003 Other 0.0 0.0 0.0 20.6 0.0 0.0 82.2 0.0 0.0 49

 Addenda: Net capital transfers paid by sector

 50 FA825440005 By private business (lines 2-25) 3.3 -3.2 4.4 278.4 25.3 -1.5 91.0 998.9 -1.1 50

 51 FA795440005 Financial corporations (lines 3-26) 10.0 0.0 1.8 111.2 27.6 0.0 247.4 170.0 0.0 51

 52 FA515440005 Property-casualty insurance companies 0.0 0.0 0.0 67.1 0.0 0.0 247.4 21.0 0.0 52

 53 FA545410003 Life insurance companies 0.0 0.0 0.0 3.2 0.0 0.0 0.0 12.7 0.0 53

 54 FA765440005 U.S.-chartered depository institutions 10.0 0.0 1.8 17.6 27.6 0.0 0.0 42.8 0.0 54

 55 FA405400033 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

 56 FA615410003 Finance companies 0.0 0.0 0.0 12.7 0.0 0.0 0.0 50.8 0.0 56

 57 FA665410003 Brokers and dealers 0.0 0.0 0.0 10.7 0.0 0.0 0.0 42.8 0.0 57

 58 FA735400033 Holding companies (GMAC) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

 59 FA505400033 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59

 60 FA105440005 Nonfinancial corporations (lines 6-29) -6.7 -3.2 2.6 180.3 -2.3 -1.5 -104.0 828.9 -1.1 60

 61 FA115440005 Noncorporate business (lines 7-32) 0.0 0.0 0.0 -13.1 0.0 0.0 -52.3 0.0 0.0 61

 62 FA365440005 By government (lines 8-35) -12.3 -17.6 -18.8 -252.0 -18.0 -19.2 49.7 -1020.6 -20.4 62

 63 FA315440005 Federal (lines 9-36) 58.4 51.4 53.6 -178.1 54.1 54.6 128.4 -949.4 51.3 63

 64 FA205440005 State and local (lines 16-39) -70.7 -69.0 -72.4 -74.0 -72.2 -73.8 -78.6 -71.2 -71.7 64

 65 FA155440005 By persons (lines 18-44) 9.3 21.2 14.8 -22.8 -6.8 21.1 -127.6 22.0 21.7 65

 66 FA265440005 By the rest of the world (lines 21-47) -0.4 -0.4 -0.4 -3.6 -0.4 -0.4 -13.2 -0.3 -0.2 66

(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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA174090005 Net acquisition of financial assets 1538.2 1438.9 1433.1 1316.0 1445.4 1512.8 845.1 1460.5 1791.1 1

 2 FA153091003 Foreign deposits -6.4 -14.4 -5.6 10.9 12.3 8.5 17.5 5.2 6.1 2

 3 FA173020005 Checkable deposits and currency 144.1 68.1 -37.2 42.8 496.0 -86.3 -330.3 91.9 317.2 3

 4 FA173030005 Time and savings deposits 458.6 510.0 744.7 300.5 353.8 198.6 566.6 82.9 551.6 4

 5 FA173034005 Money market fund shares -84.2 17.4 -15.1 35.8 211.9 81.0 -18.0 -131.8 -186.8 5

 6 FA174022005 Debt securities -162.3 237.3 -54.5 -106.0 -683.1 160.7 -172.2 270.6 415.6 6

 7 FA173061105 Treasury securities -255.7 303.7 153.1 -40.8 -326.4 675.0 -634.0 122.3 539.9 7

 8 FA153061705 Agency- and GSE-backed securities 81.0 196.3 -74.0 56.7 -48.2 -277.1 377.0 175.2 -214.0 8

 9 FA173062005 Municipal securities -63.7 -56.8 30.6 -46.9 -194.7 -75.9 -49.0 132.0 -182.2 9

 10 FA153063005 Corporate and foreign bonds 76.1 -205.8 -164.2 -75.0 -113.8 -161.2 133.8 -158.9 271.9 10

 11 FA174023005 Loans 46.2 -58.2 -2.0 -29.6 57.9 -4.1 -98.0 -74.3 -90.9 11

 12 FA153064105 Corporate equities (2) 132.6 -142.3 -109.3 83.5 214.1 413.4 -331.1 37.5 -38.3 12

 13 FA153064205 Mutual fund shares 251.1 124.3 140.7 349.4 183.9 159.8 626.3 427.7 237.7 13

 14 FA163070005 Trade receivables 27.5 17.1 18.7 19.6 19.6 19.6 19.6 19.6 18.9 14

 15 FA153040005 Life insurance reserves 35.1 34.8 15.4 7.6 12.6 -8.1 12.7 13.4 24.0 15

 16 FA153050005 Pension entitlements 331.9 359.6 431.4 375.6 412.2 341.7 263.6 484.9 280.0 16

 17 FA173099005 Miscellaneous and other assets 364.0 285.1 306.1 226.0 154.2 228.3 288.5 233.0 256.0 17

 18 FA175050005 Gross investment in nonfinancial assets 2200.4 2352.3 2450.8 2589.6 2542.0 2560.8 2590.4 2665.1 2671.9 18

 19 FA175012005 Residential fixed investment 562.9 637.1 696.7 738.0 738.8 730.4 726.2 756.7 763.0 19

 20 FA175013005 Nonresidential fixed investment 417.2 428.0 434.3 473.9 456.2 471.6 478.9 489.0 504.1 20

 21 FA155111003 Consumer durables 1220.9 1280.8 1324.8 1383.8 1355.1 1367.6 1387.4 1425.1 1410.0 21

 22 FA155420003 Nonproduced nonfinancial assets -8.5 -9.2 -9.4 -9.8 -9.6 -9.7 -9.8 -10.0 -10.1 22

 23 FA115020005 Inventories 7.8 15.5 4.5 3.6 1.5 0.8 7.8 4.3 4.9 23

 24 FA176300005 Consumption of fixed capital 1760.5 1818.0 1886.9 1932.9 1894.2 1926.3 1945.8 1965.4 1993.7 24

 25 FA176320005 Residential fixed investment 423.1 438.9 461.4 481.8 473.3 479.4 484.8 489.6 496.5 25

 26 FA176330005 Nonresidential fixed investment 332.1 344.7 354.6 377.0 368.0 374.2 380.9 384.9 393.0 26

 27 FA156300103 Consumer durables 1005.3 1034.3 1071.0 1074.2 1052.9 1072.8 1080.1 1090.9 1104.2 27

 28 FA172010005 Net investment in nonfinancial assets (3) 439.9 534.3 563.9 656.7 647.8 634.5 644.7 699.7 678.3 28

 29 FA175012865 Residential fixed investment 139.9 198.1 235.4 256.2 265.5 251.0 241.4 267.1 266.4 29

 30 FA175013865 Nonresidential fixed investment 85.1 83.3 79.6 97.0 88.3 97.5 98.0 104.1 111.2 30

 31 FA155111005 Consumer durables 215.6 246.5 253.9 309.7 302.2 294.9 307.3 334.2 305.8 31

 32 FA155420003 Nonproduced nonfinancial assets -8.5 -9.2 -9.4 -9.8 -9.6 -9.7 -9.8 -10.0 -10.1 32

 33 FA115020005 Inventories 7.8 15.5 4.5 3.6 1.5 0.8 7.8 4.3 4.9 33

 34 FA174190005 Net increase in liabilities 707.9 732.0 850.1 894.8 822.6 939.6 682.2 1135.0 856.8 34

 35 FA173165105 Home mortgages 32.4 145.8 250.7 341.8 386.3 322.0 303.3 355.6 298.1 35

 36 FA173165205 Other mortgages 188.5 200.6 215.9 202.4 151.5 210.3 175.4 272.5 202.4 36

 37 FA153166000 Consumer credit 221.2 234.4 230.6 188.5 187.1 164.5 149.5 253.1 162.1 37

 38 FA153169005 Other loans and advances 33.2 -76.5 -10.2 35.4 14.5 64.2 -11.3 74.1 22.9 38

 39 FA173199005 Other liabilities 232.6 227.8 163.2 126.7 83.2 178.6 65.3 179.8 171.3 39

 40 FA175440005 Net capital transfers paid (4) 9.3 21.2 14.8 -35.9 -6.8 21.1 -179.9 22.0 21.7 40

 41 FA176007025 Personal saving, FOF concept (FOF) 1279.5 1262.4 1161.7 1041.9 1263.8 1228.9 627.7 1047.2 1634.2 41

 42 FA155111005 - Net investment in consumer durables 215.6 246.5 253.9 309.7 302.2 294.9 307.3 334.2 305.8 42

 43 FA313154015 - Government insurance and pension fund reserves (5) -1.9 -2.4 -2.0 -2.1 -2.3 -2.7 -2.6 -0.9 -2.1 43

 44 FA156600075 + Contr. for govt. soc. insur., U.S.-affiliated areas 5.3 5.2 5.1 5.5 5.5 5.5 5.5 5.6 5.8 44

 45 FA176007005 = Personal saving, NIPA concept (FOF) (6) 1071.1 1023.5 914.9 739.9 969.4 942.2 328.5 719.4 1336.3 45

 46 FA156007015 Personal saving, NIPA concept (NIPA) 738.8 828.4 680.6 487.4 554.6 525.7 483.7 385.7 461.3 46

 47 FA176007085 Difference 332.3 195.1 234.3 252.5 414.8 416.5 -155.1 333.8 875.0 47

 Memo:

 48 FA156012005 Disposable personal income 13032.6 13615.0 13968.6 14380.4 14226.4 14331.6 14410.8 14552.9 14763.3 48

 Personal saving as a percentage of disposable personal income:

 49 FA176007026 FOF concept (FOF data) (line 41) 9.82 9.27 8.32 7.25 8.88 8.57 4.36 7.20 11.07 49

 50 FA176007006 NIPA concept (FOF data) (line 45) 8.22 7.52 6.55 5.15 6.81 6.57 2.28 4.94 9.05 50

 51 FA156007016 NIPA concept (NIPA data) (line 46) 5.67 6.08 4.87 3.39 3.90 3.67 3.36 2.65 3.12 51

 52 FA176007086 Difference (line 47) 2.55 1.43 1.68 1.76 2.92 2.91 -1.08 2.29 5.93 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 61 plus line 65.

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

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL174090005 Total financial assets 64474.9 65656.9 69443.8 75369.6 71221.6 72046.1 73444.9 75369.6 75844.8 1

 2 LM153091003 Foreign deposits 45.6 31.2 25.6 36.5 28.7 30.8 35.2 36.5 38.0 2

 3 FL173020005 Checkable deposits and currency 1400.0 1469.7 1421.6 1464.4 1506.9 1476.9 1385.5 1464.4 1505.5 3

 4 FL173030005 Time and savings deposits 8751.5 9266.7 10011.6 10273.1 10143.4 10087.2 10239.5 10273.1 10497.0 4

 5 FL173034005 Money market fund shares 1118.3 1135.7 1120.6 1156.3 1108.2 1082.0 1125.7 1156.3 1042.5 5

 6 FL174022005 Debt securities 4117.0 4702.4 4661.6 4393.9 4548.3 4378.5 4327.3 4393.9 4923.5 6

 7 FL173061105 Treasury securities 855.6 1240.4 1465.3 1435.3 1409.1 1487.7 1371.3 1435.3 1694.7 7

 8 FL153061705 Agency- and GSE-backed securities 261.8 500.4 446.5 492.0 470.5 373.8 457.6 492.0 513.9 8

 9 FL173062005 Municipal securities 1713.1 1659.7 1716.2 1646.2 1689.4 1673.1 1636.4 1646.2 1645.2 9

 10 FL153063005 Corporate and foreign bonds 1286.5 1301.8 1033.6 820.4 979.3 843.9 862.0 820.4 1069.6 10

 11 FL174023005 Loans 1097.8 1039.6 1037.5 1007.9 1052.0 1051.0 1026.5 1007.9 985.2 11

 12 FL153069005 Other loans and advances 893.2 842.6 841.6 817.5 857.9 856.7 835.1 817.5 796.7 12

 13 FL173065005 Mortgages 157.0 152.0 154.1 153.8 153.8 155.3 153.8 153.8 153.5 13

 14 FL173066005 Consumer credit 47.6 44.9 41.9 36.6 40.3 38.9 37.6 36.6 34.9 14

 15 LM153064105 Corporate equities (2) 14315.3 13837.2 15221.4 17949.5 15984.1 16482.4 17043.2 17949.5 17626.5 15

 16 LM153064205 Mutual fund shares 6828.7 6758.5 7240.3 8628.6 7665.3 7917.0 8300.9 8628.6 8676.8 16

 17 FL163070005 Trade receivables 240.7 257.9 276.5 296.2 281.4 286.3 291.2 296.2 300.9 17

 18 FL153040005 Life insurance reserves 1282.8 1309.1 1340.0 1387.3 1355.3 1360.9 1373.8 1387.3 1390.8 18

 19 FL153050005 Pension entitlements 20623.3 20911.0 21836.5 23292.6 22261.4 22549.0 22880.4 23292.6 23315.7 19

 20 FL543150005 Life insurance companies 2832.8 2877.6 3015.5 3220.2 3081.8 3120.4 3163.9 3220.2 3193.2 20

 21 FL574190005 Private pension funds 8383.9 8274.0 8735.5 9528.8 8978.7 9121.9 9299.0 9528.8 9498.4 21

 22 FL363150005 Governments 9406.7 9759.5 10085.5 10543.5 10200.9 10306.8 10417.5 10543.5 10624.2 22

 23 FL173099005 Miscellaneous and other assets 4653.9 4938.0 5250.5 5483.4 5286.6 5344.0 5415.8 5483.4 5542.5 23

 24 FL174190005 Total liabilities 20773.4 21365.3 22182.3 23051.3 22297.1 22549.2 22758.5 23051.3 23175.2 24

 25 FL173165105 Home mortgages 9927.8 10056.9 10275.7 10590.2 10333.9 10416.4 10509.4 10590.2 10626.9 25

 26 FL173165205 Other mortgages 2926.7 3127.3 3343.1 3545.5 3381.0 3433.6 3477.4 3545.5 3596.1 26

 27 FL153166000 Consumer credit 3314.6 3413.6 3644.2 3832.7 3640.1 3695.4 3754.0 3832.7 3822.4 27

 28 FL153169005 Other loans and advances 514.0 437.4 427.2 462.6 430.9 446.9 444.1 462.6 468.3 28

 29 FL173199005 Other liabilities 4090.4 4330.1 4492.0 4620.3 4511.3 4557.0 4573.6 4620.3 4661.4 29

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

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

Z.1, June 7, 2018 15

F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA386000105 Gross saving less net capital transfers paid 4359.0 4560.4 4308.4 4458.2 4324.5 4325.3 4662.6 4520.4 4366.5 1

 2 FA385090005 Gross investment 4131.2 4816.3 4571.9 4659.1 4368.9 4802.5 4583.5 4881.4 4640.9 2

 3 FA385050005 Capital expenditures 4501.4 4740.2 4736.3 4964.5 4857.0 4907.3 5001.5 5092.1 5162.2 3

 4 FA155111003 Consumer durables 1220.9 1280.8 1324.8 1383.8 1355.1 1367.6 1387.4 1425.1 1410.0 4

 5 FA385012005 Fixed residential investment 568.3 652.8 706.4 755.2 758.0 742.6 750.5 769.6 781.4 5

 6 FA385013005 Fixed nonresidential investment 2634.2 2694.7 2669.9 2809.8 2744.1 2792.2 2821.7 2881.2 2948.4 6

 7 FA145020005 Inventory change 78.0 111.9 35.1 15.7 -0.1 4.9 41.9 16.0 22.4 7

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

 9 FA385000005 Net lending (+) or net borrowing (-) -370.2 76.1 -164.4 -305.5 -488.1 -104.9 -418.1 -210.7 -521.3 9

 10 FA384090005 Net acqisition of financial assets 2816.9 3210.4 3322.1 2829.5 1554.5 3190.6 2438.9 4133.7 3528.0 10

 11 FA313011005 U.S. official reserve assets -3.8 -6.4 2.2 -1.7 -1.1 0.5 -0.3 -6.1 -5.4 11

 12 FA383091005 Foreign deposits -17.0 -34.5 -2.0 117.1 -12.2 83.1 383.9 13.8 17.5 12

 13 FA383020005 Checkable deposits and currency 274.2 233.2 183.7 20.4 -341.3 544.5 -341.6 220.0 977.9 13

 14 FA383030005 Time and savings deposits 449.0 516.7 770.3 319.7 315.6 225.6 582.7 154.9 517.2 14

 15 FA383034005 Money market fund shares -60.2 42.3 -118.7 37.6 120.0 44.8 50.3 -64.8 -144.7 15

 16 FA382051005 Security repurchase agreements 41.6 19.5 37.0 -19.0 -35.5 -43.7 -45.1 48.4 -17.4 16

 17 FA384022005 Debt securities -137.3 222.8 24.4 -16.0 -626.6 156.5 -82.7 488.9 463.1 17

 18 FA383069105 Open market paper 26.5 -4.3 -11.7 27.3 23.9 50.4 -2.3 37.5 41.4 18

 19 FA383061105 Treasury securities -229.8 325.4 219.2 -32.1 -335.1 590.4 -610.7 227.0 515.5 19

 20 FA383061705 Agency- and GSE-backed securities 53.8 158.9 -57.0 91.9 -36.9 -246.6 423.4 227.7 -183.3 20

 21 FA383062005 Municipal securities -63.6 -55.4 28.8 -36.4 -170.1 -72.0 -37.9 134.5 -186.7 21

 22 FA383063005 Corporate and foreign bonds 75.9 -201.9 -154.9 -66.7 -108.4 -165.5 144.8 -137.7 276.3 22

 23 FA384023005 Loans 163.5 54.8 113.5 78.6 163.6 62.8 37.2 50.7 3.0 23

 24 FA383069005 Other loans and advances 53.9 -48.5 -0.9 -21.6 63.4 -3.6 -81.0 -65.4 -73.6 24

 25 FA383065005 Mortgages 2.8 2.5 16.1 10.1 -0.3 -0.1 13.8 27.1 -2.9 25

 26 FA383066005 Consumer credit 106.8 100.8 98.3 90.1 100.4 66.5 104.5 88.9 79.4 26

 27 FA383064105 Corporate equities 130.9 -140.1 -104.4 87.8 216.9 410.6 -325.3 48.8 -20.0 27

 28 FA383064205 Mutual fund shares 266.2 132.8 132.3 357.1 190.7 164.0 634.7 438.9 244.2 28

 29 FA383070005 Trade receivables 159.4 114.3 303.7 299.1 191.7 251.3 342.4 410.9 362.8 29

 30 FA153040005 Life insurance reserves 35.1 34.8 15.4 7.6 12.6 -8.1 12.7 13.4 24.0 30

 31 FA153050005 Pension entitlements 331.9 359.6 431.4 375.6 412.2 341.7 263.6 484.9 280.0 31

 32 FA383078005 Taxes payable 5.0 3.5 26.8 300.6 90.5 -27.9 82.6 1057.2 -20.1 32

 33 FA152090205 Equity in noncorporate business 143.7 24.5 49.3 44.1 55.2 51.3 32.0 37.9 79.9 33

 34 FA103092005 U.S. direct investment abroad 291.1 260.4 253.8 333.6 388.2 304.4 218.0 423.6 -440.3 34

 35 FA383090005 Miscellaneous assets 743.7 1372.3 1203.5 487.4 414.0 629.3 593.7 312.6 1206.3 35

 36 FA384190005 Net increase in liabilities 3187.1 3134.3 3486.5 3134.9 2042.7 3295.5 2856.9 4344.5 4049.3 36

 37 FA313111303 U.S. official reserve assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 FA313112003 Treasury currency -0.3 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 FA384122005 Debt securities 1012.2 1135.2 1165.1 747.6 -71.1 821.5 2031.6 208.5 2655.7 40

 41 FA103169100 Open market paper 37.5 -3.0 1.8 25.9 11.4 32.5 68.8 -9.2 3.5 41

 42 FA313161105 Treasury securities 736.0 724.4 842.8 447.0 -412.7 577.1 1655.8 -32.0 2517.6 42

 43 FA313161705 Agency- and GSE-backed securities -0.1 0.2 -0.1 -0.1 -0.9 0.7 -0.1 0.1 1.1 43

 44 FA383162005 Municipal securities -46.6 14.0 42.5 10.6 -107.1 -9.7 -30.4 189.6 -139.8 44

 45 FA103163003 Corporate and foreign bonds 285.4 399.6 278.2 264.2 438.2 220.9 337.5 60.0 273.4 45

 46 FA384123005 Loans 686.8 732.7 879.7 1026.1 931.5 1110.5 859.5 1202.7 857.1 46

 47 FA383168005 Depository institution loans n.e.c. 176.8 207.6 132.2 79.0 80.3 59.6 85.5 90.7 135.3 47

 48 FA383169005 Other loans and advances 106.0 -87.9 5.4 165.8 111.7 302.9 112.2 136.4 19.9 48

 49 FA383165005 Mortgages 182.9 378.7 511.5 592.7 552.4 583.5 512.3 722.5 539.7 49

 50 FA153166000 Consumer credit 221.2 234.4 230.6 188.5 187.1 164.5 149.5 253.1 162.1 50

 51 FA103164103 Corporate equities -394.5 -549.6 -576.8 -378.8 -403.3 -267.7 -539.1 -305.1 -386.0 51

 52 FA383170005 Trade payables 224.2 143.7 326.1 330.7 264.1 266.5 380.4 411.7 404.4 52

 53 FA313140003 Life insurance reserves 0.8 -0.1 0.1 -0.2 -1.1 -0.5 0.6 0.3 0.4 53

 54 FA143178005 Taxes payable 5.5 2.2 -5.4 216.0 10.7 16.1 -18.0 855.4 -10.5 54

 55 FA112090205 Equity in noncorporate business 141.0 18.8 40.2 48.7 56.7 58.8 34.9 44.4 86.5 55

 56 FA143192005 Foreign direct investment in U.S. 187.0 438.1 389.1 243.0 264.2 261.5 226.2 220.3 213.6 56

 57 FA383190005 Miscellaneous liabilities 1324.4 1213.4 1268.5 901.8 991.0 1028.9 -119.1 1706.3 228.1 57

 58 FA387005005 Discrepancy 227.7 -256.0 -263.5 -200.8 -44.4 -477.2 79.2 -361.0 -274.4 58

(1) Sum of domestic nonfinancial sectors shown on tables F.101 through F.107.
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16 Z.1, June 7, 2018

F.101 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA156010001 Personal income 14818.2 15553.0 15928.7 16429.1 16245.2 16339.6 16468.9 16662.6 16839.8 1

 2 FA156210005 - Personal current taxes 1785.6 1937.9 1960.1 2048.6 2018.8 2007.9 2058.1 2109.7 2076.5 2

 3 FA156012005 = Disposable personal income 13032.6 13615.0 13968.6 14380.4 14226.4 14331.6 14410.8 14552.9 14763.3 3

 4 FA156900005 - Personal outlays 12293.8 12786.7 13288.0 13893.0 13671.8 13805.9 13927.2 14167.3 14302.0 4

 5 FA156007015 = Personal saving, NIPA (2) 738.8 828.4 680.6 487.4 554.6 525.7 483.7 385.7 461.3 5

 6 FA313154015 + Government insurance and pension reserves (3) -1.9 -2.4 -2.0 -2.1 -2.3 -2.7 -2.6 -0.9 -2.1 6

 7 FA156600075 - Contr. for govt. soc. insur., U.S.-affiliated areas 5.3 5.2 5.1 5.5 5.5 5.5 5.5 5.6 5.8 7

 8 FA155111005 + Net investment in consumer durables 215.6 246.5 253.9 309.7 302.2 294.9 307.3 334.2 305.8 8

 9 FA156300005 + Consumption of fixed capital 1461.5 1507.0 1566.2 1597.2 1564.5 1592.6 1607.9 1624.1 1647.6 9

 10 FA155440005 - Net capital transfers paid (4) 9.3 21.2 14.8 -22.8 -6.8 21.1 -127.6 22.0 21.7 10

 11 FA156000105 = Gross saving less net capital transfers paid 2399.4 2553.1 2478.8 2409.5 2420.3 2383.8 2518.3 2315.5 2385.1 11

 12 FA155090005 Gross investment 2731.6 2748.2 2713.1 2662.0 2835.1 2800.3 2363.1 2649.2 3260.0 12

 13 FA155050005 Capital expenditures 1823.4 1953.2 2052.0 2138.5 2107.9 2114.1 2132.9 2199.1 2192.3 13

 14 FA155111003 Consumer durable goods 1220.9 1280.8 1324.8 1383.8 1355.1 1367.6 1387.4 1425.1 1410.0 14

 15 FA155012005 Residential 473.8 535.1 585.2 619.9 620.6 613.6 610.0 635.5 641.2 15

 16 FA165013005 Nonprofit nonresidential 137.1 146.4 151.4 144.5 141.8 142.5 145.3 148.5 151.3 16

 17 FA155420003 Nonproduced nonfinancial assets -8.5 -9.2 -9.4 -9.8 -9.6 -9.7 -9.8 -10.0 -10.1 17

 18 FA155000005 Net lending (+) or net borrowing (-) 908.3 795.1 661.1 523.5 727.2 686.3 230.3 450.1 1067.7 18

 19 FA154090005 Net acquisition of financial assets 1236.5 1130.4 1144.1 1101.3 1311.4 1285.1 649.1 1159.5 1595.7 19

 20 FA153091003 Foreign deposits -6.4 -14.4 -5.6 10.9 12.3 8.5 17.5 5.2 6.1 20

 21 FA153020005 Checkable deposits and currency 74.8 26.9 -62.0 42.7 505.2 -88.2 -322.5 76.4 300.2 21

 22 FA153030005 Time and savings deposits 442.9 481.8 696.5 236.7 295.7 133.7 507.6 10.0 492.3 22

 23 FA153034005 Money market fund shares -87.1 11.4 -21.0 30.4 208.1 75.7 -22.0 -140.2 -192.0 23

 24 FA154022005 Debt securities -164.0 233.0 -58.7 -109.8 -685.8 156.9 -175.1 264.5 411.9 24

 25 FA153061105 Treasury securities -257.7 299.7 149.2 -44.4 -329.0 671.5 -636.7 116.6 536.4 25

 26 FA153061705 Agency- and GSE-backed securities 81.0 196.3 -74.0 56.7 -48.2 -277.1 377.0 175.2 -214.0 26

 27 FA153062005 Municipal securities -63.3 -57.0 30.3 -47.1 -194.8 -76.2 -49.2 131.6 -182.4 27

 28 FA153063005 Corporate and foreign bonds 76.1 -205.8 -164.2 -75.0 -113.8 -161.2 133.8 -158.9 271.9 28

 29 FA154023005 Loans 46.6 -60.6 -4.4 -31.8 56.4 -6.3 -99.6 -77.7 -93.0 29

 30 FA153069005 Other loans and advances (5) 51.8 -50.6 -1.1 -24.0 65.5 -4.8 -86.5 -70.4 -83.1 30

 31 FA153065005 Mortgages -1.0 -7.4 -0.2 -2.5 -2.9 4.1 -7.9 -3.2 -3.2 31

 32 FA163066223 Consumer credit (student loans) -4.2 -2.7 -3.1 -5.3 -6.2 -5.6 -5.2 -4.1 -6.7 32

 33 FA153064105 Corporate equities (6) 132.6 -142.3 -109.3 83.5 214.1 413.4 -331.1 37.5 -38.3 33

 34 FA153064205 Mutual fund shares 251.1 124.3 140.7 349.4 183.9 159.8 626.3 427.7 237.7 34

 35 FA163070005 Trade receivables 27.5 17.1 18.7 19.6 19.6 19.6 19.6 19.6 18.9 35

 36 FA153040005 Life insurance reserves 35.1 34.8 15.4 7.6 12.6 -8.1 12.7 13.4 24.0 36

 37 FA153050005 Pension entitlements (7) 331.9 359.6 431.4 375.6 412.2 341.7 263.6 484.9 280.0 37

 38 FA152090205 Equity in noncorporate business 143.7 24.5 49.3 44.1 55.2 51.3 32.0 37.9 79.9 38

 39 FA153090005 Miscellaneous assets 8.0 34.2 53.1 42.3 21.9 27.0 120.1 0.4 68.0 39

 40 FA154190005 Net increase in liabilities 328.3 335.3 483.0 577.8 584.1 598.9 418.8 709.4 528.0 40

 41 FA163162003 Debt securities (municipal securities) -6.9 -8.1 -3.4 1.6 -0.5 12.6 -12.3 6.5 7.3 41

 42 FA154123005 Loans 307.3 329.0 472.5 558.6 563.3 568.8 415.1 687.4 496.2 42

 43 FA153165105 Home mortgages (8) 26.4 131.9 234.8 324.4 373.0 305.0 281.8 337.8 287.5 43

 44 FA153166000 Consumer credit 221.2 234.4 230.6 188.5 187.1 164.5 149.5 253.1 162.1 44

 45 FA153168005 Depository institution loans n.e.c. (9) 19.8 31.6 9.6 2.8 -18.8 27.7 -12.4 15.0 16.1 45

 46 FA153169005 Other loans and advances 33.2 -76.5 -10.2 35.4 14.5 64.2 -11.3 74.1 22.9 46

 47 FA163165505 Commercial mortgages 6.7 7.8 7.6 7.5 7.5 7.5 7.5 7.5 7.6 47

 48 FA163170005 Trade payables 26.7 12.6 14.3 15.8 15.8 15.8 15.8 15.8 14.8 48

 49 FA543077073 Deferred and unpaid life insurance premiums 1.2 1.7 -0.3 1.8 5.5 1.7 0.2 -0.3 9.8 49

 50 FA157005005 Discrepancy -332.3 -195.1 -234.3 -252.5 -414.8 -416.5 155.1 -333.8 -875.0 50

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

 outstandings of nonprofit organizations.

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

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

(4) Table F.5, line 65.

(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, shown on table F.218, line 24.

(9) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).
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Z.1, June 7, 2018 17

F.102 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA146110005 Income before taxes 2875.4 2802.6 2820.7 2916.6 2930.6 2954.0 2959.9 2821.8 2846.4 1

 2 FA146000105 Gross saving less net capital transfers paid 2207.6 2198.3 2147.4 2099.6 2182.8 2229.9 2443.4 1542.1 2455.3 2

 3 FA145090005 Gross investment 1539.4 2186.2 2093.8 1975.2 2079.0 2263.4 2311.4 1247.3 2219.6 3

 4 FA145050005 Capital expenditures 2076.8 2199.4 2072.7 2194.0 2119.9 2165.5 2242.4 2248.3 2316.9 4

 5 FA145019005 Fixed investment 1997.2 2057.9 2030.1 2179.0 2120.7 2161.2 2201.4 2232.6 2295.2 5

 6 FA145012005 Residential 88.5 110.3 115.2 129.3 131.4 123.2 134.7 128.0 134.1 6

 7 FA145013005 Nonresidential 1908.7 1947.6 1914.9 2049.6 1989.4 2037.9 2066.7 2104.6 2161.1 7

 8 FA145020005 Change in inventories 78.0 111.9 35.1 15.7 -0.1 4.9 41.9 16.0 22.4 8

 9 FA105420005 Nonproduced nonfinancial assets 1.7 29.6 7.5 -0.6 -0.7 -0.5 -0.9 -0.4 -0.6 9

 10 FA145000005 Net lending (+) or net borrowing (-) -537.5 -13.3 21.2 -218.8 -41.0 97.9 69.0 -1000.9 -97.3 10

 11 FA144090005 Net acquisition of financial assets 1365.3 1816.0 1814.6 1359.7 1056.2 1540.0 1417.5 1425.1 1377.5 11

 12 FA103091003 Foreign deposits -10.6 -20.1 3.6 106.3 -24.5 74.6 366.4 8.5 11.4 12

 13 FA143020005 Checkable deposits and currency 124.4 108.6 185.3 144.2 167.7 289.0 7.4 112.6 218.5 13

 14 FA143030005 Time and savings deposits -7.0 20.4 67.4 68.1 53.4 78.1 61.2 79.5 61.0 14

 15 FA143034005 Money market fund shares 24.8 24.6 -107.0 -1.1 -93.4 -26.6 61.3 54.4 43.0 15

 16 FA102051003 Security repurchase agreements 39.5 14.0 29.5 -25.6 -39.8 -40.2 -53.9 31.5 -20.9 16

 17 FA144022005 Debt securities 41.4 0.2 -5.0 37.8 41.8 63.8 4.7 41.0 39.6 17

 18 FA103069100 Commercial paper 35.8 0.6 -11.8 24.5 22.0 51.8 -6.1 30.3 39.9 18

 19 FA143061105 Treasury securities 4.9 -0.2 7.8 3.3 -2.8 6.5 0.9 8.5 4.1 19

 20 FA103061703 Agency- and GSE-backed securities 1.0 -1.4 1.3 -0.1 -1.8 1.0 -0.6 1.0 0.2 20

 21 FA143062005 Municipal securities -0.3 1.3 -2.3 10.1 24.3 4.5 10.4 1.2 -4.7 21

 22 FA144023005 Loans 1.9 4.9 3.0 -0.6 16.3 -26.2 9.3 -1.8 13.7 22

 23 FA143065005 Mortgages 1.6 4.8 1.2 0.3 -0.3 0.3 -0.2 1.6 0.2 23

 24 FA143066005 Consumer credit 0.3 0.1 1.7 -0.9 16.6 -26.5 9.5 -3.3 13.5 24

 25 FA103064203 Mutual fund shares 15.2 7.4 -11.0 5.4 5.4 5.4 5.4 5.4 5.4 25

 26 FA143070005 Trade receivables 125.9 79.2 264.5 262.7 168.7 206.5 283.5 392.0 320.4 26

 27 FA103092005 U.S. direct investment abroad 291.1 260.4 253.8 333.6 388.2 304.4 218.0 423.6 -440.3 27

 28 FA143090005 Miscellaneous assets 718.7 1316.4 1130.7 429.1 372.6 611.2 454.2 278.3 1125.8 28

 29 FA144190005 Net increase in liabilities 1902.7 1829.3 1793.5 1578.5 1097.1 1442.2 1348.5 2426.0 1474.8 29

 30 FA104122005 Debt securities 322.2 409.8 295.1 303.1 446.7 268.8 393.5 103.6 260.9 30

 31 FA103169100 Commercial paper 37.5 -3.0 1.8 25.9 11.4 32.5 68.8 -9.2 3.5 31

 32 FA103162000 Municipal securities -0.7 13.2 15.2 13.1 -2.9 15.4 -12.9 52.8 -16.0 32

 33 FA103163003 Corporate bonds 285.4 399.6 278.2 264.2 438.2 220.9 337.5 60.0 273.4 33

 34 FA144123005 Loans 379.1 403.4 406.3 467.0 368.0 541.2 444.0 514.6 360.0 34

 35 FA143168005 Depository institution loans n.e.c. 157.0 176.0 122.6 76.2 99.1 31.9 97.9 75.7 119.2 35

 36 FA143169005 Other loans and advances 72.4 -11.7 14.7 130.0 97.0 238.2 123.1 61.7 -3.8 36

 37 FA143165005 Mortgages 149.8 239.1 269.0 260.8 171.9 271.1 223.0 377.3 244.7 37

 38 FA103164103 Corporate equities -394.5 -549.6 -576.8 -378.8 -403.3 -267.7 -539.1 -305.1 -386.0 38

 39 FA143170005 Trade payables 159.3 74.8 239.6 248.3 188.4 198.6 286.3 319.9 323.1 39

 40 FA143178005 Taxes payable 5.5 2.2 -5.4 216.0 10.7 16.1 -18.0 855.4 -10.5 40

 41 FA143192005 Foreign direct investment in U.S. 187.0 438.1 389.1 243.0 264.2 261.5 226.2 220.3 213.6 41

 42 FA143190005 Miscellaneous liabilities 1103.2 1031.9 1005.4 431.1 165.8 364.9 520.8 672.9 627.2 42

 43 FA112090205 Proprietors’ net investment 141.0 18.8 40.2 48.7 56.7 58.8 34.9 44.4 86.5 43

 44 FA107005005 Discrepancy 668.2 12.2 53.6 124.3 103.8 -33.4 132.0 294.8 235.7 44

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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18 Z.1, June 7, 2018

F.103 Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA106060005 Profits before tax 1367.6 1275.7 1262.4 1303.0 1326.8 1348.9 1349.4 1186.9 1193.3 1

 2 FA106231005 - Taxes on corporate income 291.8 281.1 274.1 279.0 277.5 294.1 289.4 255.0 164.6 2

 3 FA106121075 - Net dividends 598.3 651.8 685.2 707.3 696.2 728.7 649.9 754.3 -169.9 3

 4 FA105020601 + Inventory valuation adjustment (IVA) 4.1 52.4 2.7 -49.1 -75.0 -33.6 -22.6 -65.4 -81.4 4

 5 FA106300015 + Capital consumption allowance (1) 1209.2 1284.0 1322.8 1428.1 1352.9 1364.3 1379.0 1616.1 1623.4 5

 6 FA106006065 + Foreign earnings retained abroad 211.0 204.9 200.8 235.4 219.8 237.8 182.6 301.4 -632.7 6

 7 FA105440005 - Net capital transfers paid (2) -6.7 -3.2 2.6 180.3 -2.3 -1.5 -104.0 828.9 -1.1 7

 8 FA106000105 = Gross savings less net capital transfers paid 1908.5 1887.4 1826.7 1750.8 1853.1 1896.2 2053.1 1200.7 2109.2 8

 9 FA105090005 Gross investment 1240.4 1875.2 1773.1 1626.5 1749.3 1929.6 1921.2 905.9 1873.4 9

 10 FA105050005 Capital expenditures 1699.9 1800.3 1673.8 1742.9 1685.8 1718.8 1784.9 1782.2 1837.3 10

 11 FA105019005 Fixed investment (3) 1628.0 1674.3 1635.7 1731.4 1688.1 1715.3 1751.6 1770.9 1820.5 11

 12 FA105020005 Inventory change + IVA 70.1 96.4 30.6 12.1 -1.6 4.0 34.1 11.8 17.4 12

 13 FA105420005 Nonproduced nonfinancial assets 1.7 29.6 7.5 -0.6 -0.7 -0.5 -0.9 -0.4 -0.6 13

 14 FA105000005 Net lending (+) or net borrowing (-) -459.5 74.9 99.3 -116.5 63.5 210.8 136.3 -876.3 36.2 14

 15 FA104090005 Net acquisition of financial assets 922.7 1488.7 1485.4 1096.3 865.4 1253.5 1186.5 1079.7 1095.7 15

 16 FA103091003 Foreign deposits -10.6 -20.1 3.6 106.3 -24.5 74.6 366.4 8.5 11.4 16

 17 FA103020005 Checkable deposits and currency 55.1 67.4 160.5 144.1 177.0 287.1 15.3 97.1 201.5 17

 18 FA103030003 Time and savings deposits -22.7 -7.7 19.2 4.3 -4.8 13.3 2.2 6.6 1.7 18

 19 FA103034003 Money market fund shares 21.9 18.6 -112.9 -6.5 -97.2 -31.8 57.3 46.0 37.9 19

 20 FA102051003 Security repurchase agreements 39.5 14.0 29.5 -25.6 -39.8 -40.2 -53.9 31.5 -20.9 20

 21 FA104022005 Debt securities 39.7 -4.1 -9.2 34.0 39.1 60.1 1.8 34.9 35.9 21

 22 FA103069100 Commercial paper 35.8 0.6 -11.8 24.5 22.0 51.8 -6.1 30.3 39.9 22

 23 FA103061103 Treasury securities 2.9 -4.3 3.9 -0.3 -5.3 3.0 -1.7 2.9 0.7 23

 24 FA103061703 Agency- and GSE-backed securities 1.0 -1.4 1.3 -0.1 -1.8 1.0 -0.6 1.0 0.2 24

 25 FA103062003 Municipal securities 0.1 1.0 -2.6 9.8 24.1 4.2 10.2 0.8 -4.9 25

 26 FA104023005 Loans 2.3 2.4 0.6 -2.8 14.7 -28.3 7.6 -5.1 11.6 26

 27 FA103065003 Mortgages 1.9 2.3 -1.1 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 27

 28 FA103066005 Consumer credit 0.3 0.1 1.7 -0.9 16.6 -26.5 9.5 -3.3 13.5 28

 29 FA103064203 Mutual fund shares 15.2 7.4 -11.0 5.4 5.4 5.4 5.4 5.4 5.4 29

 30 FA103070005 Trade receivables 104.7 32.1 218.8 220.8 139.1 165.7 252.1 326.2 280.2 30

 31 FA103092005 U.S. direct investment abroad (4) 291.1 260.4 253.8 333.6 388.2 304.4 218.0 423.6 -440.3 31

 32 FA103090005 Miscellaneous assets 386.5 1118.3 932.5 282.7 268.4 443.3 314.3 105.1 971.4 32

 33 FA103076005 Insurance receivables 10.4 2.3 6.6 13.9 -10.5 22.5 71.4 -27.8 9.0 33

 34 FA103092405 Equity in GSEs 0.1 0.1 0.1 0.3 0.5 -0.3 0.6 0.3 0.7 34

 35 FA103094105 Investment in finance co. subs. 15.8 2.2 -13.1 12.6 -0.0 16.4 -9.6 43.6 7.5 35

 36 FA103093005 Other 360.2 1113.7 938.9 255.9 278.3 404.6 251.8 88.9 954.2 36

 37 FA104190005 Net increase in liabilities 1382.2 1413.8 1386.1 1212.8 802.0 1042.7 1050.2 1956.0 1059.5 37

 38 FA104122005 Debt securities 322.2 409.8 295.1 303.1 446.7 268.8 393.5 103.6 260.9 38

 39 FA103169100 Commercial paper 37.5 -3.0 1.8 25.9 11.4 32.5 68.8 -9.2 3.5 39

 40 FA103162000 Municipal securities (5) -0.7 13.2 15.2 13.1 -2.9 15.4 -12.9 52.8 -16.0 40

 41 FA103163003 Corporate bonds (4) 285.4 399.6 278.2 264.2 438.2 220.9 337.5 60.0 273.4 41

 42 FA104123005 Loans 95.3 92.9 107.1 209.6 170.4 273.4 242.7 151.9 96.6 42

 43 FA103168005 Depository institution loans n.e.c. 70.3 78.1 50.1 34.5 52.0 -9.5 88.3 7.2 60.7 43

 44 FA103169005 Other loans and advances (6) 63.1 -17.5 12.1 126.6 103.7 231.7 120.7 50.3 -3.3 44

 45 FA103165005 Mortgages -38.0 32.4 44.9 48.5 14.6 51.2 33.7 94.4 39.2 45

 46 FA103164103 Corporate equities -394.5 -549.6 -576.8 -378.8 -403.3 -267.7 -539.1 -305.1 -386.0 46

 47 FA103170005 Trade payables 150.1 22.4 194.6 210.3 166.7 149.2 244.8 280.6 294.4 47

 48 FA103178005 Taxes payable -1.4 -1.3 -8.8 213.0 8.5 13.1 -20.3 850.6 -13.4 48

 49 FA103192005 Foreign direct investment in U.S. 185.2 436.2 386.8 241.7 264.1 258.2 225.0 219.5 213.1 49

 50 FA103190005 Miscellaneous liabilities 1025.3 1003.4 988.0 413.8 148.9 347.6 503.8 654.9 593.9 50

 51 FA573074005 Pension fund contributions payable -2.9 14.7 5.6 6.4 8.5 1.8 6.1 9.3 4.2 51

 52 FA573073005 Claims of pension fund on sponsor 51.9 93.6 50.0 55.4 90.1 4.0 49.8 77.7 27.1 52

 53 FA103193005 Other 976.2 895.2 932.5 352.0 50.2 341.9 447.9 567.9 562.6 53

 54 FA107005005 Discrepancy 668.2 12.2 53.6 124.3 103.8 -33.4 132.0 294.8 235.7 54

 Memo:

 55 FA105005305 Financing gap (7) 2.3 117.9 47.9 227.5 52.5 60.4 -85.7 882.9 -904.6 55

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

(2) Table F.5, line 60.

(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, June 7, 2018 19

F.104 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA116300005 Gross saving = consumption of fixed capital 299.0 311.0 320.7 335.7 329.7 333.8 337.9 341.4 346.1 1

 2 FA116000105 Gross saving less net capital transfers paid (1) 299.0 311.0 320.7 348.8 329.7 333.8 390.3 341.4 346.1 2

 3 FA116000105 Gross investment 299.0 311.0 320.7 348.8 329.7 333.8 390.3 341.4 346.1 3

 4 FA115050005 Capital expenditures 377.0 399.1 398.9 451.1 434.1 446.8 457.6 466.0 479.6 4

 5 FA115019005 Fixed investment (2) 369.2 383.6 394.4 447.5 432.6 445.9 449.8 461.7 474.7 5

 6 FA115020005 Change in inventories 7.8 15.5 4.5 3.6 1.5 0.8 7.8 4.3 4.9 6

 7 FA115000005 Net lending (+) or net borrowing (-) -78.0 -88.1 -78.2 -102.3 -104.4 -113.0 -67.3 -124.6 -133.5 7

 8 FA114090005 Net acquisition of financial assets 442.6 327.3 329.2 263.4 190.7 286.5 231.0 345.4 281.9 8

 9 FA113020005 Checkable deposits and currency 69.3 41.2 24.8 0.1 -9.3 1.9 -7.8 15.5 17.0 9

 10 FA113030003 Time and savings deposits 15.7 28.1 48.2 63.7 58.2 64.8 59.0 73.0 59.3 10

 11 FA113034003 Money market funds 2.9 6.0 5.8 5.4 3.8 5.2 4.0 8.4 5.1 11

 12 FA114022005 Debt securities 1.7 4.3 4.2 3.8 2.7 3.7 2.9 6.0 3.7 12

 13 FA113061003 Treasury securities 2.0 4.0 3.9 3.6 2.5 3.5 2.7 5.6 3.4 13

 14 FA113062003 Municipal securities -0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.4 0.2 14

 15 FA114023005 Loans -0.4 2.4 2.4 2.2 1.5 2.1 1.6 3.4 2.1 15

 16 FA113065005 Mortgages -0.4 2.4 2.4 2.2 1.5 2.1 1.6 3.4 2.1 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 21.2 47.1 45.7 41.9 29.6 40.8 31.3 65.8 40.2 18

 19 FA113090005 Miscellaneous assets 332.2 198.0 198.2 146.3 104.2 167.9 140.0 173.3 154.4 19

 20 FA113076005 Insurance receivables 12.6 -10.2 -3.0 3.3 -3.3 6.6 16.1 -6.1 0.3 20

 21 FA113092405 Equity investment in GSEs (3) 0.7 0.5 0.7 2.5 0.7 0.8 8.2 0.3 -1.0 21

 22 FA113093005 Other 318.9 207.7 200.5 140.5 106.8 160.5 115.6 179.1 155.1 22

 23 FA114190005 Net increase in liabilities 520.6 415.5 407.3 365.7 295.2 399.5 298.3 470.0 415.4 23

 24 FA114123005 Loans 283.8 310.5 299.2 257.4 197.7 267.8 201.4 362.7 263.4 24

 25 FA113168005 Depository institution loans n.e.c. 86.7 98.0 72.5 41.7 47.1 41.4 9.6 68.5 58.5 25

 26 FA113169005 Other loans and advances 9.3 5.8 2.6 3.4 -6.7 6.5 2.4 11.4 -0.5 26

 27 FA113165005 Mortgages 187.8 206.7 224.1 212.3 157.3 219.9 189.4 282.8 205.5 27

 28 FA113170005 Trade payables 9.2 52.4 44.9 37.9 21.6 49.4 41.5 39.3 28.8 28

 29 FA113178003 Taxes payable 6.8 3.5 3.3 3.1 2.2 3.0 2.3 4.8 2.9 29

 30 FA115114005 Foreign direct investment in U.S. 1.8 1.9 2.3 1.3 0.1 3.3 1.2 0.8 0.5 30

 31 FA113193003 Miscellaneous liabilities 77.9 28.5 17.4 17.3 16.9 17.3 17.0 18.0 33.2 31

 32 FA112090205 Proprietors’ net investment 141.0 18.8 40.2 48.7 56.7 58.8 34.9 44.4 86.5 32

(1) Net capital transfers paid from table F.5, line 61.

(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, June 7, 2018

F.105 General Government (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA366010115 Current receipts, NIPA basis 5527.9 5792.1 5868.3 6078.4 6054.5 6002.5 6121.0 6135.8 6071.6 1

 2 FA366210005 Personal current taxes 1785.6 1937.9 1960.1 2048.6 2018.8 2007.9 2058.1 2109.7 2076.5 2

 3 FA366240005 Taxes on production and imports 1221.6 1255.8 1288.0 1330.1 1309.2 1321.3 1331.4 1358.4 1388.0 3

 4 FA366231005 Taxes on corporate income 494.4 496.3 459.4 455.5 454.9 468.8 463.7 434.7 317.0 4

 5 FA316231061 Taxes from the rest of the world 20.5 21.0 21.4 22.4 21.7 22.1 22.4 23.3 23.2 5

 6 FA366601005 Contributions for govt. social insurance 1160.5 1213.2 1250.5 1308.1 1289.6 1299.3 1314.0 1329.5 1361.7 6

 7 FA366150105 Income receipts on assets 150.4 125.1 125.1 137.9 155.2 139.0 139.0 118.4 116.9 7

 8 FA366403105 Current transfer receipts 712.8 757.0 774.0 786.8 816.1 754.7 803.0 773.6 802.5 8

 9 FA366402105 Current surplus of government enterprises -17.9 -14.3 -10.1 -11.0 -11.0 -10.7 -10.6 -11.7 -14.3 9

 10 FA366900015 Current expenditures, NIPA basis 6307.0 6525.1 6733.0 6921.7 6887.1 6849.6 6912.9 7037.3 7115.9 10

 11 FA366901005 Consumption expenditures 2562.7 2610.8 2658.1 2732.2 2701.3 2714.5 2740.9 2772.2 2801.3 11

 12 FA366404005 Government social benefits 2518.1 2651.5 2731.9 2812.5 2794.9 2799.4 2820.4 2835.2 2870.1 12

 13 FA366403005 Other current transfer payments 547.6 585.4 609.2 612.6 618.2 595.2 617.1 619.8 629.4 13

 14 FA366130005 Interest payments 620.5 620.2 672.1 703.1 711.7 680.3 673.1 747.4 756.2 14

 15 FA366402005 Subsidies 58.1 57.3 61.8 61.3 61.0 60.1 61.4 62.7 58.9 15

 16 FA366006005 Net saving, NIPA basis -779.1 -733.0 -864.7 -843.3 -832.6 -847.1 -791.8 -901.6 -1044.3 16

 17 FA366300005 + Consumption of fixed capital 516.9 521.9 526.2 538.3 533.6 536.7 540.0 542.9 547.8 17

 18 FA313154015 - Insurance and pension fund reserves (2) -1.9 -2.4 -2.0 -2.1 -2.3 -2.7 -2.6 -0.9 -2.1 18

 19 FA365440095 - Net capital transfers (3) -12.3 -17.6 -18.8 -252.0 -18.0 -19.2 49.7 -1020.6 -20.4 19

 20 FA366000105 = Gross saving less net capital transfers -248.0 -191.1 -317.8 -50.8 -278.7 -288.4 -299.0 662.8 -473.9 20

 21 FA365090005 Gross investment -139.8 -118.1 -235.0 21.8 -545.2 -261.2 -91.1 984.8 -838.7 21

 22 FA365019005 Fixed investment 594.4 608.1 609.7 621.6 618.9 617.5 615.6 634.3 642.2 22

 23 FA365420005 Nonproduced nonfinancial assets 6.9 -20.5 1.9 10.4 10.3 10.2 10.7 10.4 10.7 23

 24 FA365000005 Net lending (+) or net borrowing (-) -741.0 -705.7 -846.7 -610.2 -1174.4 -889.0 -717.3 340.1 -1491.7 24

 25 FA364090005 Net acquisition of financial assets 215.1 264.0 363.4 368.5 -813.0 365.5 372.3 1549.2 554.8 25

 26 FA313011005 U.S. official reserve assets -3.8 -6.4 2.2 -1.7 -1.1 0.5 -0.3 -6.1 -5.4 26

 27 FA363020005 Checkable deposits and currency 75.1 97.6 60.4 -166.5 -1014.2 343.7 -26.5 31.0 459.2 27

 28 FA363030005 Time and savings deposits 13.0 14.5 6.4 14.9 -33.4 13.8 13.9 65.4 -36.1 28

 29 FA213034003 Money market fund shares 2.1 6.3 9.3 8.3 5.3 -4.3 11.0 21.0 4.3 29

 30 FA212051003 Security repurchase agreements 2.2 5.5 7.4 6.6 4.3 -3.4 8.8 16.9 3.4 30

 31 FA364022005 Debt securities -14.7 -10.5 88.2 56.1 17.4 -64.2 87.7 183.4 11.6 31

 32 FA213069103 Open market paper -9.3 -4.9 0.2 2.8 1.8 -1.5 3.7 7.2 1.5 32

 33 FA213061105 Treasury securities 23.0 26.0 62.2 9.0 -3.3 -87.6 25.0 101.8 -25.1 33

 34 FA363061705 Agency- and GSE-backed securities -28.2 -35.9 15.7 35.2 13.1 29.5 46.9 51.5 30.5 34

 35 FA213062003 Municipal securities -0.0 0.3 0.8 0.7 0.4 -0.3 0.9 1.7 0.4 35

 36 FA363063005 Corporate and foreign bonds -0.2 4.0 9.4 8.3 5.4 -4.3 11.1 21.2 4.3 36

 37 FA364023005 Loans 115.0 110.6 114.9 111.0 90.9 95.2 127.6 130.2 82.2 37

 38 FA363065005 Mortgages 2.3 5.1 15.2 12.3 2.9 -4.5 21.9 28.8 0.1 38

 39 FA313066220 Consumer credit 110.7 103.4 99.6 96.3 90.1 98.5 100.2 96.4 72.6 39

 40 FA313069005 Other loans and advances 2.0 2.1 0.2 2.4 -2.1 1.3 5.5 5.0 9.5 40

 41 FA363064105 Corporate equities -1.7 2.1 4.9 4.3 2.9 -2.8 5.9 11.3 18.3 41

 42 FA213064203 Mutual fund shares -0.1 1.1 2.6 2.3 1.5 -1.2 3.0 5.8 1.2 42

 43 FA363070005 Trade receivables 6.0 17.9 20.6 16.8 3.3 25.1 39.3 -0.8 23.6 43

 44 FA363078005 Taxes receivable 5.0 3.5 26.8 300.6 90.5 -27.9 82.6 1057.2 -20.1 44

 45 FA363090005 Miscellaneous assets 17.0 21.8 19.7 16.0 19.6 -9.0 19.3 33.9 12.5 45

 46 FA364190005 Net increase in liabilities 956.1 969.7 1210.0 978.6 361.4 1254.4 1089.6 1209.1 2046.5 46

 47 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 FA313112003 Treasury currency -0.3 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 FA364122005 Debt securities 697.0 733.5 873.4 442.9 -517.4 540.0 1650.4 98.4 2387.5 50

 51 FA313161105 Treasury securities 736.0 724.4 842.8 447.0 -412.7 577.1 1655.8 -32.0 2517.6 51

 52 FA313161705 Budget agency securities -0.1 0.2 -0.1 -0.1 -0.9 0.7 -0.1 0.1 1.1 52

 53 FA213162005 Municipal securities -39.0 8.9 30.7 -4.1 -103.7 -37.7 -5.3 130.3 -131.1 53

 54 FA364123005 Loans 0.4 0.3 0.9 0.4 0.2 0.5 0.4 0.7 0.9 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 FA213169203 Other loans and advances 0.4 0.3 0.9 0.4 0.2 0.5 0.4 0.7 0.9 56

 57 FA363170005 Trade payables 38.2 56.3 72.3 66.6 60.0 52.1 78.3 76.0 66.5 57

 58 FA313140003 Insurance reserves 0.8 -0.1 0.1 -0.2 -1.1 -0.5 0.6 0.3 0.4 58

 59 FA363190005 Miscellaneous liabilities 220.1 179.8 263.4 468.9 819.7 662.3 -640.1 1033.7 -408.9 59

 60 FA367005005 Discrepancy -108.2 -73.0 -82.7 -72.6 266.6 -27.2 -207.9 -322.0 364.8 60

 Memo:

 61 FA374090005 Net acquisition of financial assets (consolidated) (4) 191.8 237.5 299.5 358.4 -810.3 452.8 346.0 1445.0 578.6 61

 62 FA374190005 Net increase in liabilities (consolidated) (4) 932.8 943.2 1146.2 968.5 364.1 1341.8 1063.3 1104.9 2070.3 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 62 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 55).
Transactions

Z.1, June 7, 2018 21

F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA316010105 Current receipts, NIPA basis 3291.2 3441.4 3452.1 3588.0 3589.2 3556.4 3618.4 3588.2 3478.3 1

 2 FA316210001 Personal current taxes 1403.0 1528.5 1540.5 1603.9 1574.0 1586.5 1613.8 1641.1 1595.1 2

 3 FA316240001 Taxes on production and imports 135.4 140.2 137.0 132.3 128.8 131.6 132.8 135.9 150.1 3

 4 FA316231005 Taxes on corporate income 436.6 437.1 401.2 401.3 408.8 410.4 407.8 378.0 264.2 4

 5 FA316231061 Taxes from the rest of the world 20.5 21.0 21.4 22.4 21.7 22.1 22.4 23.3 23.2 5

 6 FA316601001 Contributions for govt. social insurance 1140.9 1193.4 1230.2 1287.5 1269.2 1278.9 1293.4 1308.6 1340.7 6

 7 FA316150105 Income receipts on assets 75.1 48.9 46.8 58.5 76.5 59.9 59.4 38.3 36.7 7

 8 FA316403105 Current transfer receipts 87.8 77.0 78.3 86.5 113.5 70.7 92.8 68.8 77.3 8

 9 FA316402101 Current surplus of government enterprises -8.0 -4.7 -3.5 -4.3 -3.4 -3.8 -4.1 -5.8 -8.9 9

 10 FA316900005 Current expenditures, NIPA basis 3901.4 4028.0 4149.4 4252.5 4242.0 4198.3 4235.5 4334.1 4388.3 10

 11 FA316901001 Consumption expenditures 954.5 960.0 964.5 977.8 968.0 970.8 981.1 991.5 1005.3 11

 12 FA316404001 Government social benefits 1901.2 1987.4 2039.3 2096.4 2082.7 2090.4 2101.2 2111.2 2137.6 12

 13 FA316403001 Other current transfer payments 547.6 585.4 609.2 612.6 618.2 595.2 617.1 619.8 629.4 13

 14 FA316130001 Interest payments 440.6 438.4 475.1 504.9 512.7 482.3 475.3 549.5 557.7 14

 15 FA316402001 Subsidies 57.6 56.7 61.3 60.8 60.5 59.6 60.8 62.1 58.3 15

 16 FA316006005 Net saving, NIPA basis -610.2 -586.7 -697.3 -664.4 -652.8 -641.9 -617.0 -746.0 -910.0 16

 17 FA316300003 + Consumption of fixed capital 271.0 271.3 271.3 273.8 272.8 273.6 273.9 274.9 276.7 17

 18 FA313154015 - Insurance and pension reserves (1) -1.9 -2.4 -2.0 -2.1 -2.3 -2.7 -2.6 -0.9 -2.1 18

 19 FA315440095 - Net capital transfers paid (2) 58.4 51.4 53.6 -178.1 54.1 54.6 128.4 -949.4 51.3 19

 20 FA316000105 = Gross saving less net capital transfers paid -395.6 -364.3 -477.6 -210.4 -431.8 -420.2 -468.9 479.3 -682.5 20

 21 FA315090005 Gross investment -335.6 -302.5 -437.9 -155.8 -698.4 -379.6 -291.4 746.1 -1048.8 21

 22 FA315019001 Fixed investment 263.7 264.0 267.0 282.8 276.4 285.0 282.5 287.4 292.0 22

 23 FA315420003 Nonproduced nonfinancial assets -2.6 -30.7 -8.6 -0.5 -0.4 -0.6 -0.3 -0.7 -0.5 23

 24 FA315000005 Net lending (+) or net borrowing (-) -596.7 -535.8 -696.3 -438.2 -974.4 -664.1 -573.6 459.3 -1340.3 24

 25 FA314090005 Net acquisition of financial assets 173.6 234.4 211.0 235.3 -853.8 412.3 234.0 1148.7 525.9 25

 26 FA313011005 U.S. official reserve assets -3.8 -6.4 2.2 -1.7 -1.1 0.5 -0.3 -6.1 -5.4 26

 27 FA313020005 Checkable deposits and currency 60.8 109.9 65.7 -170.2 -1028.2 343.1 4.3 0.1 449.3 27

 28 FA313030003 Time and savings deposits 0.2 0.0 -0.2 0.4 -1.2 0.4 0.6 1.7 -0.1 28

 29 FA314022005 Debt securities -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FA313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA313063763 Corporate and foreign bonds -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FA314023005 Loans 114.5 104.8 103.0 100.2 83.9 100.1 113.5 103.5 76.6 32

 33 FA313069005 Other loans and advances 2.0 2.1 0.2 2.4 -2.1 1.3 5.5 5.0 9.5 33

 34 FA313065005 Mortgages 1.7 -0.7 3.2 1.6 -4.1 0.4 7.8 2.2 -5.5 34

 35 FA313066220 Consumer credit (3) 110.7 103.4 99.6 96.3 90.1 98.5 100.2 96.4 72.6 35

 36 FA313064105 Corporate equities (4) -1.6 -0.0 -0.1 -0.1 0.0 -0.5 -0.0 0.0 16.0 36

 37 FA313070000 Trade receivables -5.2 12.7 3.8 -1.0 -8.6 12.8 19.9 -28.0 6.4 37

 38 FA313078005 Taxes receivable -3.7 -1.0 23.5 297.6 85.5 -38.1 84.4 1058.4 -26.4 38

 39 FA313090005 Miscellaneous assets 12.5 14.4 13.2 10.2 15.8 -6.0 11.6 19.1 9.5 39

 40 FA314190005 Net increase in liabilities 770.3 770.1 907.3 673.5 120.7 1076.4 807.6 689.4 1866.1 40

 41 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 FA313112003 Treasury currency -0.3 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 FA314122005 Debt securities 735.9 724.6 842.7 447.0 -413.7 577.7 1655.7 -31.9 2518.6 44

 45 FA313161105 Treasury securities (5) 736.0 724.4 842.8 447.0 -412.7 577.1 1655.8 -32.0 2517.6 45

 46 FA313161205 Marketable 646.7 688.1 711.2 554.4 51.9 999.9 678.2 487.5 1748.7 46

 47 FA313161305 Nonmarketable 89.4 36.3 131.5 -107.3 -464.6 -422.8 977.6 -519.5 768.8 47

 48 FA313161705 Budget agency securities -0.1 0.2 -0.1 -0.1 -0.9 0.7 -0.1 0.1 1.1 48

 49 FA313165403 Loans (multifamily residential mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 FA313170005 Trade payables -1.1 15.8 31.1 24.0 17.9 10.1 35.9 32.3 22.2 50

 51 FA313140003 Insurance reserves 0.8 -0.1 0.1 -0.2 -1.1 -0.5 0.6 0.3 0.4 51

 52 FA313190005 Miscellaneous liabilities 35.0 29.9 33.5 202.7 517.6 489.1 -884.7 688.7 -675.1 52

 53 FA343073005 Claims of pension fund on sponsor 21.6 18.9 14.9 189.9 552.9 470.3 -914.3 650.5 -683.6 53

 54 FA313190015 Other 13.4 10.9 18.6 12.8 -35.3 18.8 29.6 38.2 8.5 54

 55 FA317005005 Discrepancy -60.0 -61.8 -39.7 -54.6 266.7 -40.6 -177.6 -266.8 366.3 55

 Memo:

 56 FA314000105 Change in cash balance (6) 62.1 109.9 65.3 -170.2 -1046.9 294.2 26.0 46.0 435.0 56

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

(2) Table F.5, line 63 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, June 7, 2018

F.107 State and Local Governments (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA206010105 Current receipts, NIPA basis 2236.7 2350.7 2416.3 2490.4 2465.2 2446.1 2502.6 2547.6 2593.3 1

 2 FA206210001 Personal current taxes 382.6 409.4 419.6 444.8 444.8 421.4 444.4 468.5 481.4 2

 3 FA206240001 Taxes on production and imports 1086.2 1115.6 1151.0 1197.8 1180.4 1189.7 1198.6 1222.5 1237.9 3

 4 FA206231001 Taxes on corporate income 57.8 59.2 58.1 54.3 46.1 58.4 55.9 56.7 52.8 4

 5 FA206601001 Contributions for govt. social insurance 19.6 19.8 20.3 20.6 20.4 20.4 20.6 20.8 21.0 5

 6 FA206150105 Income receipts on assets 75.3 76.3 78.2 79.4 78.7 79.1 79.6 80.1 80.2 6

 7 FA206403105 Current transfer receipts 625.0 680.0 695.6 700.4 702.6 684.0 710.1 704.8 725.2 7

 8 FA206402101 Current surplus of government enterprises -9.9 -9.6 -6.6 -6.8 -7.7 -6.9 -6.6 -5.9 -5.4 8

 9 FA206900005 Current expenditures, NIPA basis 2405.6 2497.0 2583.7 2669.2 2645.1 2651.3 2677.4 2703.2 2727.6 9

 10 FA206901001 Consumption expenditures 1608.2 1650.8 1693.6 1754.4 1733.4 1743.7 1759.8 1780.8 1796.0 10

 11 FA206404001 Govt. social benefit payments to persons 616.9 664.0 692.6 716.1 712.2 709.0 719.2 724.0 732.5 11

 12 FA206403001 Other current transfer payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA206130001 Interest payments 180.0 181.7 197.0 198.2 199.0 198.0 197.8 197.9 198.5 13

 14 FA206402001 Subsidies 0.5 0.5 0.5 0.6 0.5 0.5 0.6 0.6 0.6 14

 15 FA206006005 Net saving, NIPA basis -168.9 -146.4 -167.4 -178.8 -179.8 -205.2 -174.8 -155.6 -134.3 15

 16 FA206300003 + Consumption of fixed capital 245.9 250.6 254.9 264.5 260.8 263.2 266.1 268.0 271.2 16

 17 FA205440005 - Net capital transfers paid (2) -70.7 -69.0 -72.4 -74.0 -72.2 -73.8 -78.6 -71.2 -71.7 17

 18 FA206000105 = Gross saving less net capital transfers paid 147.7 173.2 159.9 159.6 153.1 131.8 169.9 183.6 208.6 18

 19 FA205090005 Gross investment 195.8 184.4 202.9 177.7 153.2 118.4 200.3 238.8 210.1 19

 20 FA205019001 Fixed investment 330.7 344.1 342.7 338.8 342.5 332.5 333.1 346.9 350.3 20

 21 FA205420003 Nonproduced nonfinancial assets 9.5 10.2 10.5 10.9 10.7 10.8 10.9 11.1 11.3 21

 22 FA215000005 Net lending (+) or net borrowing (-) -144.3 -170.0 -150.4 -172.0 -200.0 -224.9 -143.8 -119.2 -151.5 22

 23 FA214090005 Net acquisition of financial assets 41.5 29.6 152.3 133.1 40.7 -46.9 138.3 400.4 28.9 23

 24 FA213020005 Checkable deposits and currency 14.3 -12.3 -5.3 3.6 14.0 0.5 -30.9 30.9 9.9 24

 25 FA213030005 Time and savings deposits 12.8 14.5 6.6 14.5 -32.2 13.4 13.2 63.7 -36.0 25

 26 FA213034003 Money market fund shares 2.1 6.3 9.3 8.3 5.3 -4.3 11.0 21.0 4.3 26

 27 FA212051003 Security repurchase agreements 2.2 5.5 7.4 6.6 4.3 -3.4 8.8 16.9 3.4 27

 28 FA214022005 Debt securities -14.7 -10.5 88.2 56.1 17.4 -64.2 87.7 183.4 11.6 28

 29 FA213069103 Open market paper -9.3 -4.9 0.2 2.8 1.8 -1.5 3.7 7.2 1.5 29

 30 FA213061105 Treasury securities 23.0 26.0 62.2 9.0 -3.3 -87.6 25.0 101.8 -25.1 30

 31 FA213061703 Agency- and GSE-backed securities -28.2 -35.9 15.7 35.2 13.1 29.5 46.9 51.5 30.5 31

 32 FA213062003 Municipal securities -0.0 0.3 0.8 0.7 0.4 -0.3 0.9 1.7 0.4 32

 33 FA213063003 Corporate and foreign bonds -0.2 4.0 9.4 8.3 5.4 -4.3 11.1 21.2 4.3 33

 34 FA213065005 Loans (mortgages) 0.6 5.8 12.0 10.7 7.0 -4.9 14.1 26.6 5.6 34

 35 FA213064103 Corporate equities -0.1 2.1 5.0 4.4 2.9 -2.3 5.9 11.3 2.3 35

 36 FA213064203 Mutual fund shares -0.1 1.1 2.6 2.3 1.5 -1.2 3.0 5.8 1.2 36

 37 FA213070003 Trade receivables 11.1 5.2 16.8 17.7 11.9 12.3 19.4 27.2 17.2 37

 38 FA213078005 Taxes receivable 8.8 4.4 3.3 3.1 5.0 10.2 -1.8 -1.1 6.3 38

 39 FA213093003 Miscellaneous assets 4.5 7.4 6.5 5.8 3.7 -3.0 7.7 14.7 3.0 39

 40 FA214190005 Net increase in liabilities 185.8 199.6 302.7 305.1 240.8 178.0 282.0 519.6 180.3 40

 41 FA213162005 Debt securities (municipal securities) -39.0 8.9 30.7 -4.1 -103.7 -37.7 -5.3 130.3 -131.1 41

 42 FA213162400 Short-term (3) -6.4 -5.9 -2.8 4.8 0.2 3.0 15.1 1.0 5.4 42

 43 FA213162200 Long-term -32.6 14.8 33.5 -8.9 -103.9 -40.7 -20.4 129.3 -136.5 43

 44 FA213169203 Loans (U.S. government loans) 0.4 0.3 0.9 0.4 0.2 0.5 0.4 0.7 0.9 44

 45 FA213170003 Trade payables 39.4 40.5 41.2 42.5 42.1 42.0 42.4 43.7 44.3 45

 46 FA223073045 Claims of pension fund on sponsor (4) 185.1 149.9 229.9 266.2 302.1 173.2 244.6 345.0 266.2 46

 47 FA217005005 Discrepancy -48.2 -11.2 -43.0 -18.1 -0.1 13.4 -30.4 -55.2 -1.5 47

(1) Data for state and local government employee retirement funds are shown on table F.120.

(2) Table F.5, line 64.

(3) Debt with original maturity of 13 months or less.

(4) Included in miscellaneous liabilities.
Transactions

Z.1, June 7, 2018 23

F.108 Domestic Financial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA796000105 Gross saving less net capital transfers paid 213.0 221.9 364.0 301.0 387.5 385.3 189.5 241.9 463.8 1

 2 FA795090005 Gross investment 298.1 408.2 514.2 497.1 708.5 337.6 380.7 561.5 966.1 2

 3 FA795019005 Capital expenditures 230.3 242.3 255.5 253.7 245.7 256.0 250.6 262.7 268.1 3

 4 FA645012063 Fixed residential investment 7.8 -0.0 5.5 -1.7 -6.5 2.9 -5.9 2.7 3.4 4

 5 FA795013005 Fixed nonresidential investment 222.5 242.3 250.0 255.4 252.2 253.1 256.4 260.0 264.7 5

 6 FA795000005 Net lending (+) or net borrowing (-) 67.8 166.0 258.7 243.3 462.8 81.6 130.2 298.8 697.9 6

 7 FA794090005 Net acqisition of financial assets 2623.4 1264.6 2366.2 3295.5 4719.3 2625.2 2915.6 2922.0 2815.2 7

 8 FA713011005 U.S. official reserve assets 0.2 0.1 -0.1 0.0 0.1 0.1 0.0 -0.1 -0.1 8

 9 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA713012003 Treasury currency 0.8 1.3 1.0 0.8 1.0 0.8 0.8 0.8 0.5 10

 11 FA633091003 Foreign deposits -9.8 -13.4 -9.2 1.9 6.9 -1.3 9.1 -7.3 -10.0 11

 12 FA794010005 Net interbank assets 151.4 -388.5 -210.1 196.0 1593.3 -678.3 359.8 -490.9 633.1 12

 13 FA793020005 Checkable deposits and currency -13.8 -10.2 33.8 3.5 -33.7 -70.9 204.1 -85.3 -147.9 13

 14 FA793030005 Time and savings deposits 10.1 -91.9 -326.3 23.2 75.4 -47.9 73.1 -7.7 -68.2 14

 15 FA793034005 Money market fund shares 67.9 -14.5 91.4 76.9 -103.9 22.1 196.3 193.0 204.2 15

 16 FA792050005 Federal funds and security repos 10.6 57.1 68.3 287.3 223.1 772.2 -297.9 452.0 -641.2 16

 17 FA794022005 Debt securities 931.6 593.9 1173.0 833.4 732.9 89.2 1994.3 517.2 2288.5 17

 18 FA793069175 Open market paper -55.4 17.7 -82.0 59.3 45.5 -120.8 324.4 -12.1 32.5 18

 19 FA793061105 Treasury securities 645.7 356.3 722.9 155.5 -348.4 -534.4 1535.5 -30.7 1700.1 19

 20 FA793061705 Agency- and GSE-backed securities 104.5 36.9 330.2 232.0 361.4 555.9 -146.1 156.9 126.8 20

 21 FA793062005 Municipal securities 12.7 63.0 6.5 39.8 58.3 49.9 0.8 50.1 50.8 21

 22 FA793063005 Corporate and foreign bonds 224.1 120.0 195.4 346.9 616.1 138.6 279.8 353.0 378.3 22

 23 FA794023005 Loans 748.9 740.7 878.6 919.8 745.6 1046.6 862.6 1024.5 814.7 23

 24 FA793068005 Depository institution loans n.e.c. 295.1 286.1 172.0 99.0 58.5 132.4 145.6 59.6 174.8 24

 25 FA793069005 Other loans and advances 150.1 -59.2 78.0 136.7 42.4 232.9 182.1 89.3 34.3 25

 26 FA793065005 Mortgages 189.3 380.2 496.4 585.6 558.0 583.3 489.8 711.5 522.9 26

 27 FA793066005 Consumer credit 114.4 133.5 132.3 98.5 86.7 98.0 45.0 164.1 82.7 27

 28 FA793064105 Corporate equities 27.2 211.7 -18.5 -24.0 -232.1 187.1 -69.1 18.3 -6.7 28

 29 FA793064205 Mutual fund shares 3.1 -37.8 -160.0 -66.6 -21.7 -32.5 -160.8 -51.2 -100.4 29

 30 FA793070005 Trade receivables 1.3 9.0 0.4 9.6 29.7 15.6 4.8 -11.5 37.3 30

 31 FA793040005 Life insurance reserves 10.9 10.6 9.6 10.4 9.6 9.4 12.5 10.2 8.9 31

 32 FA793092005 U.S. direct investment abroad 22.4 21.3 46.7 29.0 45.0 30.7 13.6 26.9 -50.9 32

 33 FA793090005 Miscellaneous assets 660.8 175.4 787.7 994.1 1648.4 1282.3 -287.5 1333.1 -146.6 33

 34 FA794190005 Net increase in liabilities 2555.6 1098.6 2107.5 3052.2 4256.5 2543.6 2785.4 2623.2 2117.3 34

 35 FA794110005 Net interbank liabilities 89.8 -444.3 -349.2 294.8 2267.0 -1192.2 635.2 -530.9 994.5 35

 36 FA793120005 Checkable deposits and currency 343.9 255.4 279.1 104.5 -287.4 500.2 -29.2 234.3 902.6 36

 37 FA703130005 Time and savings deposits 513.2 406.2 517.1 359.9 465.3 253.0 648.9 72.5 455.0 37

 38 FA634090005 Money market fund shares 6.8 30.1 -26.6 119.2 6.0 62.0 264.7 144.0 50.9 38

 39 FA792150005 Federal funds and security repos 9.0 -26.5 -21.3 70.2 -274.1 703.3 -482.5 334.1 -1009.5 39

 40 FA794122005 Debt securities 152.8 119.4 358.1 396.2 233.5 504.4 516.3 330.6 79.8 40

 41 FA793169175 Open market paper -67.7 -40.5 3.3 -35.5 -44.1 -72.6 -30.6 5.5 13.0 41

 42 FA423161705 Agency- and GSE-backed securities 150.3 220.4 351.7 346.7 246.7 387.3 327.4 425.4 72.1 42

 43 FA793163005 Corporate and foreign bonds 70.3 -60.5 3.1 85.0 30.9 189.8 219.4 -100.3 -5.2 43

 44 FA794123005 Loans 165.5 41.3 73.2 16.4 64.1 41.4 37.2 -77.2 -64.5 44

 45 FA793168005 Depository institution loans n.e.c. 29.7 20.1 2.8 11.4 14.0 21.2 21.6 -11.4 15.8 45

 46 FA793169005 Other loans and advances 126.6 17.2 69.4 1.9 44.8 20.6 24.3 -81.9 -60.6 46

 47 FA643165005 Mortgages 9.3 4.0 1.0 3.1 5.3 -0.4 -8.7 16.1 -19.7 47

 48 FA793164105 Corporate equities 235.6 232.9 245.3 388.4 477.0 346.3 273.4 457.0 234.9 48

 49 FA653164205 Mutual fund shares 309.7 96.7 24.6 313.0 173.3 306.5 372.3 399.8 131.7 49

 50 FA663170003 Trade payables 3.4 8.4 10.4 -4.2 -5.6 -12.4 9.6 -8.2 7.9 50

 51 FA543140005 Life insurance reserves 45.2 45.5 24.9 18.2 23.3 1.8 24.6 23.2 32.4 51

 52 FA153050005 Pension entitlements 331.9 359.6 431.4 375.6 412.2 341.7 263.6 484.9 280.0 52

 53 FA793178005 Taxes payable 20.4 -6.6 3.1 63.3 -30.7 8.3 47.4 228.2 -50.9 53

 54 FA662090205 Equity in noncorporate business 2.7 5.8 9.1 -4.6 -1.5 -7.5 -2.9 -6.5 -6.6 54

 55 FA793192005 Foreign direct investment in U.S. 25.3 38.6 79.3 43.8 64.9 57.6 33.3 19.4 0.1 55

 56 FA793190005 Miscellaneous liabilities 300.3 -63.8 449.1 497.5 669.2 629.2 173.6 518.0 78.8 56

 57 FA797005005 Discrepancy -85.1 -186.3 -150.2 -196.0 -321.1 47.8 -191.2 -319.6 -502.3 57

(1) Sum of financial sectors shown on tables F.109 through F.132.
Transactions

24 Z.1, June 7, 2018

F.109 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA716000105 Gross saving 5.7 -10.6 0.6 -8.0 -8.6 -7.0 -9.7 -6.7 -7.1 1

 2 FA715013005 Fixed nonresidential investment 0.8 0.8 0.8 0.8 0.8 0.8 0.9 0.9 0.9 2

 3 FA714090005 Net acquisition of financial assets 481.6 -13.3 -32.6 -3.6 80.4 -28.6 -23.3 -42.7 -206.4 3

 4 FA713011005 U.S. official reserve assets 0.2 0.1 -0.1 0.0 0.1 0.1 0.0 -0.1 -0.1 4

 5 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA713012003 Treasury currency 0.8 1.3 1.0 0.8 1.0 0.8 0.8 0.8 0.5 6

 7 FA713022003 Federal Reserve float (2) 0.4 0.5 -0.8 -0.1 0.9 -0.3 -0.4 -0.7 0.9 7

 8 FA713068705 Interbank loans (2) 0.1 -0.0 -0.1 0.1 -0.2 0.5 0.2 -0.2 -0.5 8

 9 FA713068703 Discount window (3) 0.1 -0.0 -0.1 0.1 -0.2 0.5 0.2 -0.2 -0.5 9

 10 FA763069143 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA712051000 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA714022005 Debt securities 480.7 5.1 -20.8 2.3 102.6 -13.5 -12.5 -67.2 -159.3 12

 13 FA713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA713061103 Treasury securities 252.6 0.2 2.1 -9.4 3.1 2.8 1.4 -44.8 -117.0 14

 15 FA713061113 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA713061125 Other Treasury securities 252.6 0.2 2.1 -9.4 3.1 2.8 1.4 -44.8 -117.0 16

 17 FA713061705 Agency- and GSE-backed securities 228.1 4.9 -22.8 11.7 99.5 -16.3 -13.8 -22.4 -42.2 17

 18 FA713061903 Mortgage-backed securities 246.7 10.6 -6.1 23.5 110.9 4.6 -8.5 -12.9 -42.2 18

 19 FA713061703 Other agency- and GSE-baked securities -18.5 -5.7 -16.8 -11.8 -11.4 -20.9 -5.4 -9.5 0.0 19

 20 FA713068005 Loans (depository institution loans n.e.c.) (5) -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA713064103 Corporate equities (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA713090005 Miscellaneous assets -0.5 -20.2 -11.8 -6.8 -24.1 -16.3 -11.3 24.7 -48.0 22

 23 FA713091103 Nonofficial foreign currencies (7) 1.3 -0.5 4.6 6.5 -2.0 -8.0 2.2 33.8 -28.2 23

 24 FA713093005 Other -1.8 -19.7 -16.4 -13.3 -22.1 -8.3 -13.5 -9.1 -19.7 24

 25 FA714190005 Net increase in liabilities 480.6 5.3 -32.6 -3.6 80.4 -28.6 -23.3 -42.7 -196.4 25

 26 FA713113003 Depository institution reserves 148.9 -387.6 -211.0 194.8 1580.6 -679.7 363.9 -485.6 632.2 26

 27 FA703025005 Vault cash of depository institutions 2.0 -1.4 1.7 1.2 12.0 1.1 -3.9 -4.4 0.4 27

 28 FA713120005 Checkable deposits and currency 145.0 167.6 159.2 -61.4 -959.0 390.2 155.4 167.6 426.1 28

 29 FA713123005 Due to federal government 61.0 110.1 65.6 -170.2 -1046.1 294.2 25.4 45.7 432.9 29

 30 FA713123023 Treasury cash holdings -0.0 0.1 -0.1 0.0 0.4 -0.3 0.0 0.1 0.4 30

 31 FA713123030 Treasury general deposit account 61.1 110.0 65.7 -170.3 -1046.5 294.5 25.3 45.6 432.5 31

 32 FA713123043 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 FA713124005 Due to government-sponsored enterprises -12.9 -25.9 10.9 1.3 -19.0 -33.1 18.0 39.3 -93.0 33

 34 FA713122605 Due to rest of the world -2.7 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.4 -0.0 34

 35 FA713125005 Currency outside banks 99.7 83.4 82.7 107.4 106.1 129.1 112.0 82.2 86.2 35

 36 FA712151003 Security repurchase agreements 193.9 202.6 12.8 -161.3 -499.7 198.8 -372.8 28.7 -1162.3 36

 37 FA712151103 Reverse repurchase agreement operations (8) 199.0 77.9 -6.2 -148.8 -486.0 208.1 -331.1 14.0 -1148.9 37

 38 FA712151115 Other -5.0 124.7 19.0 -12.5 -13.7 -9.3 -41.7 14.6 -13.4 38

 39 FA713190005 Miscellaneous liabilities -9.3 24.2 4.7 23.1 -53.5 60.9 -165.9 251.0 -92.8 39

 40 FA713164003 Federal Reserve Bank stock 1.1 0.9 1.0 0.9 0.6 1.0 1.4 0.8 1.1 40

 41 FA713193005 Other -10.4 23.3 3.7 22.2 -54.1 59.9 -167.2 250.2 -93.9 41

 42 FA717005005 Discrepancy 3.9 7.2 -0.2 -8.9 -9.5 -7.9 -10.6 -7.6 2.0 42

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table F.203 as part of line 24.

(3) Federal Reserve loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to the financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), recorded as part of the household sector;

 to broker and dealers through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF; and to the funding corporations Maiden Lane LLC, Maiden Lane II LLC,

 AIG, Maiden Lane III LLC, and the Commercial Paper Funding Facility LLC.

(6) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(7) Reciprocal currency arrangements (swap lines) with foreign central banks.

(8) 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).
Transactions

Z.1, June 7, 2018 25

F.110 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA706000105 Gross saving less net capital transfers paid -56.1 -64.3 -17.5 -33.2 -12.0 -68.6 -22.0 -30.2 -6.7 1

 2 FA705013005 Fixed nonresidential investment 29.1 30.3 32.2 25.6 29.1 24.9 24.2 24.2 23.2 2

 3 FA705000005 Net lending (+) or net borrowing (-) -66.7 12.6 27.5 8.0 -82.6 20.8 -233.8 327.8 81.2 3

 4 FA704090005 Net acquisition of financial assets 986.2 539.2 742.0 868.9 2058.5 9.4 848.2 559.6 1139.4 4

 5 FA703025005 Vault cash 2.0 -1.4 1.7 1.2 12.0 1.1 -3.9 -4.4 0.4 5

 6 FA713113003 Reserves at Federal Reserve 148.9 -387.6 -211.0 194.8 1580.6 -679.7 363.9 -485.6 632.2 6

 7 FA702050005 Federal funds and security repos 10.6 25.2 -16.8 80.7 -97.8 197.4 -31.9 254.9 49.4 7

 8 FA704022005 Debt securities 216.7 203.3 271.0 149.8 269.2 -41.2 116.7 254.4 -75.1 8

 9 FA703069175 Open market paper 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.6 9

 10 FA703061105 Treasury securities 195.4 36.8 105.5 -20.2 42.8 -123.7 -34.1 34.1 34.8 10

 11 FA703061705 Agency- and GSE-backed securities 26.2 155.2 131.3 166.7 152.3 139.8 162.6 212.0 -9.8 11

 12 FA703062005 Municipal securities 31.0 47.4 50.6 20.6 27.0 11.6 6.0 37.7 -57.9 12

 13 FA703063005 Corporate and foreign bonds -35.9 -36.0 -16.4 -17.2 47.1 -69.0 -17.7 -29.3 -42.8 13

 14 FA704023005 Loans 553.9 681.6 609.9 437.9 260.0 487.4 467.2 537.1 429.4 14

 15 FA703068005 Depository institution loans n.e.c. 295.2 286.1 172.0 99.0 58.5 132.4 145.6 59.6 174.8 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 149.9 255.7 296.2 216.4 150.6 256.7 218.5 239.9 161.0 17

 18 FA703066005 Consumer credit 108.8 139.8 141.7 122.5 50.9 98.3 103.1 237.6 93.6 18

 19 FA703064105 Corporate equities 0.7 2.0 -6.9 -0.7 -3.8 0.1 0.2 0.7 11.5 19

 20 FA703064205 Mutual fund shares -0.9 -1.0 -1.9 0.2 1.2 -5.1 2.3 2.3 -20.6 20

 21 FA763040005 Life insurance reserves 5.9 6.5 5.6 6.4 5.6 5.4 8.5 6.2 4.9 21

 22 FA763092000 U.S. direct investment abroad 1.6 -3.6 -6.5 3.2 3.8 -3.4 -6.8 19.2 -9.2 22

 23 FA703090005 Miscellaneous assets 46.7 14.2 96.9 -4.6 27.7 47.4 -68.1 -25.3 116.6 23

 24 FA704190005 Net increase in liabilities 1052.9 526.6 714.4 860.9 2141.1 -11.4 1082.0 231.8 1058.3 24

 25 FA704110005 Net interbank liabilities -61.2 -55.3 -140.0 98.8 674.5 -513.6 275.2 -40.9 361.8 25

 26 FA703127005 Checkable deposits 198.8 87.8 119.9 165.9 671.6 109.9 -184.6 66.7 476.5 26

 27 FA703130005 Time and savings deposits 513.2 406.2 517.1 359.9 465.3 253.0 648.9 72.5 455.0 27

 28 FA702150005 Federal funds and security repos 25.4 -4.0 32.5 96.2 14.2 159.6 148.2 62.8 -189.9 28

 29 FA704122005 Debt securities -17.2 -9.3 -21.4 -13.0 -12.1 -18.2 11.2 -32.9 -5.4 29

 30 FA703169175 Open market paper -5.2 -0.9 -4.5 0.7 1.5 -2.9 6.7 -2.7 -3.0 30

 31 FA763163005 Corporate bonds -12.0 -8.4 -16.9 -13.6 -13.6 -15.3 4.5 -30.2 -2.4 31

 32 FA703169005 Loans (other loans and advances) 66.6 39.7 69.8 28.2 -16.2 26.2 125.9 -23.0 9.1 32

 33 FA763164103 Corporate equity issues 2.7 9.5 4.6 7.4 10.3 2.5 3.9 12.9 1.9 33

 34 FA763178003 Taxes payable (net) 20.1 -8.1 0.7 31.8 -29.1 18.1 43.9 94.3 -55.1 34

 35 FA753192003 Foreign direct investment in U.S. 3.7 2.0 6.0 4.9 18.2 -5.4 4.7 2.3 1.3 35

 36 FA703190005 Miscellaneous liabilities 300.8 58.1 125.3 80.8 344.6 -43.6 4.8 17.3 3.1 36

 37 FA763194735 Investment by holding companies 195.9 42.1 110.5 91.3 174.7 108.1 179.1 -96.7 -122.1 37

 38 FA753194503 Investment by funding corporations -20.3 2.2 -5.6 -20.1 41.4 -84.0 -30.6 -7.1 43.8 38

 39 FA703193005 Other 125.2 13.8 20.4 9.6 128.5 -67.7 -143.8 121.2 81.4 39

 40 FA707005005 Discrepancy -18.5 -107.2 -77.3 -66.8 41.5 -114.3 187.6 -382.2 -111.1 40

 Memo:

 41 FA763066303 Consumer leases not included above (2) 0.7 -0.6 1.3 1.9 1.7 3.9 1.2 0.9 0.9 41

 42 FA703139105 Uninsured deposits (3) 460.5 144.2 167.7 271.9 633.0 -102.5 302.5 254.5 91.1 42

(1) U.S.-chartered depository institutions (F.111), foreign banking offices (F.112), banks in U.S.-affiliated areas (F.113), and credit unions (F.114).

(2) 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 26) and time and savings deposits (line 27) not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
Transactions

26 Z.1, June 7, 2018

F.111 U.S.-Chartered Depository Institutions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA766000105 Gross saving less net capital transfers paid -73.1 -80.4 -35.0 -48.2 -29.0 -85.1 -36.0 -42.5 -24.5 1

 2 FA765013005 Fixed nonresidential investment 21.9 23.3 24.8 17.7 21.4 17.1 16.2 16.2 14.9 2

 3 FA764090005 Net acquisition of financial assets 870.9 587.6 742.4 507.5 1292.1 -45.4 415.6 367.9 767.7 3

 4 FA763025000 Vault cash 2.0 -1.4 1.7 1.2 12.0 1.1 -3.9 -4.4 0.5 4

 5 FA763013005 Reserves at Federal Reserve 210.9 -197.8 -90.3 47.3 834.3 -518.5 57.3 -183.7 264.5 5

 6 FA762050005 Federal funds and security repos -30.4 24.8 8.7 4.0 -114.0 138.0 -145.4 137.3 74.0 6

 7 FA764022005 Debt securities 241.5 214.4 276.4 110.4 243.8 -48.2 171.9 74.1 -30.4 7

 8 FA763069175 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA763061100 Treasury securities 203.3 14.8 96.0 -43.2 3.9 -136.6 -3.7 -36.6 22.3 9

 10 FA763061705 Agency- and GSE-backed securities 43.0 164.4 136.7 148.6 147.0 145.0 175.9 126.6 15.0 10

 11 FA763061803 Residential mortgage pass-through securities 26.2 149.9 141.6 123.4 110.3 139.5 149.5 94.2 -16.2 11

 12 FA763061303 Commercial mortgage pass-through securities 12.2 19.1 21.6 17.8 14.8 12.2 19.3 24.9 8.0 12

 13 FA763061603 Residential CMOs and other structured MBS 13.0 -0.1 -22.4 -2.6 -4.0 -11.0 6.3 -1.7 14.8 13

 14 FA763061403 Commercial CMOs and other structured MBS 14.6 15.3 28.6 13.5 16.4 10.8 11.0 15.6 13.5 14

 15 FA763061795 Other -23.0 -19.7 -32.6 -3.4 9.6 -6.6 -10.3 -6.3 -5.1 15

 16 FA763062000 Municipal securities 32.7 47.4 50.3 21.1 27.3 10.9 8.6 37.5 -56.7 16

 17 FA763063005 Corporate and foreign bonds -37.4 -12.2 -6.6 -16.1 65.6 -67.5 -8.9 -53.4 -11.0 17

 18 FA763063673 Private residential mortgage pass-through securities -6.0 -8.0 -5.2 -4.5 -2.1 -4.3 -5.5 -5.9 -4.3 18

 19 FA763063653 Private commercial mortgage pass-through securities -2.5 -2.5 0.4 -0.4 6.0 -2.5 -4.4 -0.9 -2.1 19

 20 FA763063663 Private residential CMOs and other structured MBS -5.6 -12.0 -11.3 -7.2 -1.3 -7.2 -9.6 -10.5 -7.8 20

 21 FA763063693 Private commercial CMOs and other structured MBS 5.4 10.6 -10.6 -6.7 -13.6 -6.4 -2.1 -4.8 1.7 21

 22 FA763063095 Other -28.8 -0.3 20.0 2.7 76.5 -47.1 12.7 -31.4 1.5 22

 23 FA764023005 Loans 425.3 524.1 496.2 353.4 176.6 378.2 394.6 464.3 348.3 23

 24 FA763068005 Depository institution loans n.e.c. 235.9 210.8 146.1 104.4 71.2 129.4 125.8 91.2 217.4 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 117.9 213.0 246.4 164.7 101.9 200.6 178.6 177.5 115.1 26

 27 FA763066000 Consumer credit 71.5 100.2 103.8 84.4 3.5 48.3 90.1 195.6 15.7 27

 28 FA763064105 Corporate equities 0.7 2.0 -6.9 -0.7 -3.8 0.1 0.2 0.7 11.5 28

 29 FA763064203 Mutual fund shares -0.7 -0.9 -1.8 0.0 1.0 -5.0 1.8 2.4 -21.0 29

 30 FA763040005 Life insurance reserves 5.9 6.5 5.6 6.4 5.6 5.4 8.5 6.2 4.9 30

 31 FA763092000 U.S. direct investment abroad 1.6 -3.6 -6.5 3.2 3.8 -3.4 -6.8 19.2 -9.2 31

 32 FA763090005 Miscellaneous assets 14.1 19.6 59.3 -17.7 132.8 6.9 -62.6 -148.2 124.8 32

 33 FA764190005 Net increase in liabilities 997.7 544.1 758.2 529.8 1355.2 -102.2 760.9 105.4 627.4 33

 34 FA764110005 Net interbank liabilities 71.0 -42.2 -89.6 -16.9 409.8 -378.9 105.4 -204.0 76.0 34

 35 FA713022003 Federal Reserve float 0.4 0.5 -0.8 -0.1 0.9 -0.3 -0.4 -0.7 0.9 35

 36 FA713068705 Borrowing from Federal Reserve banks 0.1 -0.0 -0.1 0.1 -0.2 0.5 0.2 -0.2 -0.5 36

 37 FA764112005 To domestic banking -25.0 -6.8 -4.3 3.7 381.8 -397.8 185.8 -155.2 418.7 37

 38 FA764116005 To foreign banks 95.6 -35.9 -84.5 -20.5 27.2 18.7 -80.1 -47.9 -343.1 38

 39 FA763127005 Checkable deposits 136.2 50.3 113.3 116.2 550.6 70.6 -155.5 -1.0 440.5 39

 40 FA763123005 Federal government 0.9 -0.2 -0.1 -0.3 0.4 -0.3 0.0 -1.4 2.2 40

 41 FA763129205 Private domestic 130.0 63.4 98.4 116.4 543.0 81.0 -204.0 45.7 415.3 41

 42 FA763122605 Rest of the world 5.3 -12.9 15.0 0.0 7.1 -10.1 48.5 -45.3 23.0 42

 43 FA763130005 Time and savings deposits 446.3 484.0 580.8 287.6 123.8 135.0 601.2 290.3 286.9 43

 44 FA762150005 Federal funds and security repos -33.2 -39.4 -34.2 7.9 -16.2 17.6 16.0 14.2 -54.1 44

 45 FA764122005 Debt securities -17.2 -9.3 -21.4 -13.0 -12.1 -18.2 11.2 -32.9 -5.4 45

 46 FA763169175 Open market paper -5.2 -0.9 -4.5 0.7 1.5 -2.9 6.7 -2.7 -3.0 46

 47 FA763163005 Corporate bonds -12.0 -8.4 -16.9 -13.6 -13.6 -15.3 4.5 -30.2 -2.4 47

 48 FA763169305 Loans (other loans and advances) 58.2 30.4 67.7 20.1 -10.2 20.4 110.4 -40.3 42.4 48

 49 FA763164103 Corporate equity issues 2.7 9.5 4.6 7.4 10.3 2.5 3.9 12.9 1.9 49

 50 FA763178003 Taxes payable (net) 20.1 -8.1 0.7 31.8 -29.1 18.1 43.9 94.3 -55.1 50

 51 FA763190005 Miscellaneous liabilities 313.6 68.8 136.4 88.9 328.5 30.7 24.5 -28.1 -105.6 51

 52 FA763194735 Investment by holding companies 195.9 42.1 110.5 91.3 174.7 108.1 179.1 -96.7 -122.1 52

 53 FA763193005 Other 117.7 26.7 25.8 -2.4 153.8 -77.4 -154.7 68.6 16.5 53

 54 FA767005005 Discrepancy 31.9 -147.2 -43.9 -43.6 12.6 -159.0 293.0 -321.2 -179.7 54

 Memo:

 55 FA763066303 Consumer leases not included above (1) 0.7 -0.6 1.3 1.9 1.7 3.9 1.2 0.9 0.9 55

 56 FA763139105 Uninsured deposits (2) 375.3 242.1 298.2 201.3 245.8 -197.9 303.7 453.6 -11.7 56

(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 39) and time and savings deposits (line 43) not insured by the Federal Deposit Insurance Corporation.
Transactions

Z.1, June 7, 2018 27

F.112 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA756330005 Gross saving 4.3 3.5 3.2 3.2 3.2 3.2 3.2 3.3 3.3 1

 2 FA755013005 Fixed nonresidential investment 4.0 3.3 3.1 3.3 3.2 3.3 3.4 3.4 3.5 2

 3 FA754090005 Net acquisition of financial assets 45.4 -133.0 -101.6 282.2 597.2 29.0 409.2 93.2 136.7 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 -59.3 -198.4 -122.5 142.3 644.4 -97.0 311.3 -289.6 267.8 5

 6 FA752050005 Federal funds and security repos 41.1 0.4 -25.4 76.6 16.2 59.2 113.3 117.6 -25.0 6

 7 FA754022005 Debt securities -14.5 -9.0 10.7 27.3 -39.2 15.4 -40.8 173.8 -41.2 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 -10.5 13.3 24.2 5.5 -22.5 11.7 -28.3 61.0 -1.1 9

 10 FA753061703 Agency- and GSE-backed securities -4.9 2.6 -2.0 22.5 3.0 4.3 -6.4 89.0 -8.4 10

 11 FA753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA753063005 Corporate and foreign bonds 0.9 -24.9 -11.5 -0.6 -19.8 -0.6 -6.0 23.8 -31.7 12

 13 FA754023005 Loans 63.7 87.0 30.8 -3.9 -13.1 10.7 -0.3 -13.0 -43.7 13

 14 FA753068005 Depository institution loans n.e.c. 56.5 73.3 14.9 -13.4 -18.2 -6.1 -2.7 -26.7 -49.0 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 7.3 13.8 15.8 9.5 5.1 16.8 2.4 13.7 5.3 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 14.4 -13.0 4.9 39.9 -11.0 40.7 25.6 104.4 -21.1 18

 19 FA754190005 Net increase in liabilities -2.4 -95.5 -137.2 261.1 627.5 75.8 305.4 35.8 203.9 19

 20 FA754110005 Net interbank liabilities -131.9 -18.7 -49.5 111.5 175.1 -75.4 189.6 156.7 202.0 20

 21 FA754116005 To foreign banks -130.0 -23.7 -55.9 120.2 164.7 -73.6 220.1 169.8 225.8 21

 22 FA754112005 To domestic banks -1.9 5.0 6.5 -8.7 10.5 -1.8 -30.5 -13.1 -23.8 22

 23 FA753127005 Checkable deposits 45.2 16.4 -2.9 34.1 76.4 26.1 -11.6 45.5 -27.2 23

 24 FA753130005 Time and savings deposits 33.8 -121.4 -140.6 25.6 285.1 63.3 9.3 -255.0 115.8 24

 25 FA752150005 Federal funds and security repos 58.5 35.3 66.7 88.3 30.3 142.0 132.2 48.6 -135.8 25

 26 FA753169603 Debt securities (open market paper) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA753192003 Foreign direct investment in U.S. 3.7 2.0 6.0 4.9 18.2 -5.4 4.7 2.3 1.3 27

 28 FA753190005 Miscellaneous liabilities -11.7 -9.2 -17.1 -3.4 42.2 -74.8 -18.8 37.7 47.8 28

 29 FA753194503 Investment by funding corporations -20.3 2.2 -5.6 -20.1 41.4 -84.0 -30.6 -7.1 43.8 29

 30 FA753193005 Other 8.6 -11.3 -11.4 16.7 0.8 9.2 11.8 44.8 4.0 30

 31 FA757005005 Discrepancy -47.4 37.7 -35.6 -21.2 30.2 46.8 -104.0 -57.6 67.0 31

 Memo:

 32 FA753139105 Uninsured deposits (3) 79.0 -105.0 -143.4 59.8 361.6 89.4 -2.4 -209.5 88.6 32

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.

(3) All checkable deposits (line 23) and time and savings deposits (line 24) are considered uninsured according to the Federal Deposit Insurance Act.
Transactions

28 Z.1, June 7, 2018

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA746330005 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 FA745013005 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 FA744090005 Net acquisition of financial assets 8.2 -3.6 6.9 -3.4 1.9 3.1 -31.7 13.0 9.8 3

 4 FA743013003 Reserves at Federal Reserve 0.9 -0.2 0.8 3.1 3.2 4.2 4.7 0.3 6.5 4

 5 FA744022003 Debt securities -1.2 0.8 1.2 1.7 3.6 0.9 -3.1 5.6 4.5 5

 6 FA743061103 Treasury securities 0.2 1.1 0.8 1.9 3.0 1.4 -1.6 4.7 4.7 6

 7 FA743061703 Agency- and GSE-backed securities -0.1 0.1 -0.3 -0.0 0.0 -0.6 0.2 0.3 0.9 7

 8 FA743062003 Municipal securities -0.9 -0.6 -0.4 -0.4 -0.2 -0.2 -1.4 -0.0 -0.0 8

 9 FA743063005 Corporate and foreign bonds -0.4 0.2 1.1 0.3 0.7 0.3 -0.3 0.5 -1.0 9

 10 FA744023003 Loans -4.3 -5.8 -1.9 -0.6 -3.6 -0.4 -1.8 3.3 -2.4 10

 11 FA743068005 Depository institution loans n.e.c. -2.3 -2.0 -1.2 -0.8 -2.1 0.7 -2.2 0.4 -0.3 11

 12 FA743065103 Home mortgages -1.5 -1.5 -0.7 0.3 -0.9 -0.7 -0.5 3.1 -1.5 12

 13 FA743065505 Commercial mortgages -0.5 -2.2 -0.0 -0.1 -0.5 -0.4 0.8 -0.1 -0.7 13

 14 FA743093005 Miscellaneous assets 12.8 1.5 6.6 -7.7 -1.3 -1.6 -31.5 3.8 1.2 14

 15 FA744190005 Net increase in liabilities 7.4 -3.3 7.0 -3.9 1.9 2.7 -32.2 12.0 9.1 15

 16 FA744110005 Net interbank liabilities 0.3 0.0 -0.1 0.1 0.2 0.2 -1.6 1.6 0.0 16

 17 FA743127003 Checkable deposits 5.2 1.6 5.7 0.3 4.6 4.4 -15.3 7.5 5.9 17

 18 FA743130003 Time and savings deposits 4.1 -2.9 2.5 -4.6 -1.6 -3.4 -14.4 1.1 4.4 18

 19 FA743193005 Miscellaneous liabilities -2.2 -2.1 -1.2 0.3 -1.3 1.5 -0.9 1.8 -1.3 19

 20 FA747005005 Discrepancy -0.8 0.3 0.1 -0.5 -0.1 -0.4 -0.5 -1.0 -0.7 20

 Memo:

 21 FA743139105 Uninsured deposits (2) 2.2 0.7 4.2 2.9 12.5 2.7 -4.5 0.9 7.3 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 12.5 12.5 14.2 11.6 13.8 13.2 10.6 8.9 14.3 1

 2 FA475013005 Fixed nonresidential investment 3.1 3.6 4.2 4.5 4.3 4.4 4.5 4.6 4.7 2

 3 FA474090005 Net acquisition of financial assets 61.8 88.2 94.3 82.6 167.2 22.8 55.0 85.5 225.2 3

 4 FA473013005 Reserves at Federal Reserve -3.7 8.8 1.0 2.1 98.7 -68.3 -9.4 -12.6 93.4 4

 5 FA472050053 Federal funds and security repos -0.0 0.0 0.0 0.1 0.0 0.2 0.2 -0.0 0.4 5

 6 FA474022005 Debt securities -9.0 -2.8 -17.3 10.4 61.1 -9.2 -11.3 0.9 -8.0 6

 7 FA473069153 Open market paper 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.6 7

 8 FA473061105 Treasury securities 2.5 7.6 -15.6 15.6 58.3 -0.2 -0.5 4.9 9.0 8

 9 FA473061705 Agency- and GSE-backed securities -11.7 -11.9 -3.2 -4.4 2.2 -8.8 -7.1 -4.0 -17.3 9

 10 FA473062005 Municipal securities -0.8 0.6 0.8 -0.0 -0.1 1.0 -1.3 0.3 -1.2 10

 11 FA473063005 Corporate and foreign bonds 1.0 0.9 0.7 -0.8 0.6 -1.1 -2.4 -0.3 0.9 11

 12 FA474023000 Loans 69.2 76.3 84.8 89.0 100.0 98.9 74.7 82.5 127.2 12

 13 FA473068005 Depository institution loans n.e.c. 5.1 4.1 12.1 8.8 7.6 8.4 24.7 -5.3 6.7 13

 14 FA473065100 Home mortgages 26.9 32.7 34.7 42.1 45.0 40.4 37.1 45.8 42.7 14

 15 FA473066000 Consumer credit 37.2 39.5 38.0 38.1 47.4 50.1 12.9 42.0 77.8 15

 16 FA473064205 Mutual fund shares -0.2 -0.1 -0.1 0.1 0.2 -0.1 0.5 -0.1 0.4 16

 17 FA473090005 Miscellaneous assets 5.4 6.1 25.9 -19.1 -92.8 1.3 0.4 14.7 11.7 17

 18 FA474190005 Net increase in liabilities 50.2 81.3 86.5 73.9 156.6 12.3 48.0 78.7 217.9 18

 19 FA474110005 Net interbank liabilities -0.6 5.6 -0.8 4.1 89.4 -59.5 -18.3 4.8 83.8 19

 20 FA473127003 Checkable deposits 12.2 19.5 3.8 15.3 40.0 8.8 -2.2 14.6 57.4 20

 21 FA473130005 Time and savings deposits 29.0 46.4 74.3 51.3 58.1 58.2 52.9 36.1 47.9 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) 8.4 9.3 2.0 8.2 -6.0 5.8 15.5 17.3 -33.3 23

 24 FA473193005 Miscellaneous liabilities 1.2 0.5 7.2 -5.0 -24.8 -1.0 0.0 5.9 62.1 24

 25 FA477005005 Discrepancy -2.2 2.0 2.2 -1.5 -1.2 -1.7 -0.9 -2.4 2.4 25

 Memo:

 26 FA473139103 Uninsured deposits (1) 4.1 6.4 8.7 7.9 13.1 3.3 5.7 9.4 6.9 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, June 7, 2018 29

F.115 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA516000105 Gross saving less net capital transfers paid (1) 65.2 102.3 101.8 10.3 79.0 69.2 -161.2 54.3 81.3 1

 2 FA515013005 Fixed nonresidential investment 22.0 26.3 28.3 29.9 29.2 29.8 30.2 30.3 31.3 2

 3 FA514090005 Net acquisition of financial assets 30.8 61.6 46.0 76.2 145.9 96.8 113.8 -51.9 100.4 3

 4 FA513020003 Checkable deposits and currency 5.9 -2.8 -7.1 3.9 3.4 0.1 39.4 -27.3 7.7 4

 5 FA513034003 Money market fund shares -1.8 3.2 -6.7 4.1 2.3 2.2 4.8 7.0 4.6 5

 6 FA512051003 Security repurchase agreements 0.1 0.0 -0.4 0.0 -0.1 -0.1 0.1 0.2 -0.8 6

 7 FA514022005 Debt securities 13.7 20.4 41.7 31.5 -17.4 25.2 32.0 86.3 0.1 7

 8 FA513069103 Open market paper -0.1 0.9 10.7 -8.6 -12.1 -10.3 -7.0 -5.0 -6.7 8

 9 FA513061103 Treasury securities 6.3 -1.5 10.7 32.8 18.9 25.6 36.1 50.7 -31.0 9

 10 FA513061703 Agency- and GSE-backed securities 0.1 -6.5 4.0 5.4 -0.6 5.5 5.2 11.5 4.6 10

 11 FA513062003 Municipal securities -15.4 9.4 1.0 -9.7 -16.2 -8.2 -12.3 -2.0 13.6 11

 12 FA513063003 Corporate and foreign bonds 22.7 18.0 15.3 11.6 -7.4 12.7 10.0 31.2 19.5 12

 13 FA513065503 Loans (commercial mortgages) 2.0 2.4 2.6 2.3 -2.9 5.9 3.5 2.6 3.4 13

 14 FA513064105 Corporate equities 3.4 -1.9 2.1 9.4 20.9 15.6 -2.3 3.3 24.9 14

 15 FA513064203 Mutual fund shares 1.2 0.7 -3.6 1.2 1.2 1.2 1.2 1.2 2.5 15

 16 FA513070003 Trade receivables 5.7 6.3 0.6 11.1 29.6 19.0 4.5 -8.8 36.4 16

 17 FA513092003 U.S. direct investment abroad 8.2 4.9 2.0 -1.3 6.4 14.4 5.8 -31.9 -25.6 17

 18 FA513090005 Miscellaneous assets -7.5 28.4 14.9 13.9 102.4 13.2 24.7 -84.6 47.3 18

 19 FA513092403 Equity in FHLB 0.0 0.0 0.0 -0.0 0.0 0.2 -0.2 -0.0 0.2 19

 20 FA513093005 Other -7.5 28.4 14.9 13.9 102.4 12.9 24.9 -84.6 47.1 20

 21 FA514190005 Net increase in liabilities -5.7 -3.6 12.8 60.7 53.6 84.2 203.6 -98.6 51.5 21

 22 FA512151003 Security repurchase agreements -0.4 0.4 -1.0 -0.0 -0.0 -0.1 0.1 -0.1 -0.2 22

 23 FA513164103 Corporate equity issues -16.9 -22.0 -19.5 -12.8 -21.4 -16.7 -6.7 -6.3 -4.7 23

 24 FA513169333 Loans (other loans and advances) 0.1 0.2 0.5 -0.2 0.1 3.9 -3.8 -0.8 3.9 24

 25 FA513178005 Taxes payable -0.5 0.8 1.0 4.7 -1.7 -5.3 2.3 23.6 3.7 25

 26 FA513192003 Foreign direct investment in U.S. 0.9 13.2 31.3 1.9 0.9 7.0 5.6 -5.9 -3.1 26

 27 FA513190005 Miscellaneous liabilities 11.1 3.9 0.4 67.1 75.8 95.4 206.1 -109.0 52.0 27

 28 FA513194733 Investment by parent companies 0.1 -0.8 -0.2 0.6 -1.4 1.9 0.7 1.1 1.8 28

 29 FA513176003 Policy payables 14.7 15.5 21.0 34.5 -26.6 54.7 181.0 -71.1 23.7 29

 30 FA513193005 Other -3.7 -10.8 -20.4 32.0 103.8 38.8 24.5 -39.0 26.5 30

 31 FA517005005 Discrepancy 6.7 10.9 40.3 -35.0 -42.5 26.8 -101.6 -22.8 1.1 31

 Memo:

 32 FA513200003 Securities lending (2) 0.0 0.0 0.3 1.9 6.7 1.5 1.7 -2.3 1.3 32

(1) Net capital transfers paid from table F.5, line 52.

(2) Liability for securities lending collateral, included in line 30.
Transactions

30 Z.1, June 7, 2018

F.116 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA546000105 Gross saving less net capital transfers paid (2) 23.5 18.4 22.3 19.8 22.8 23.1 22.2 11.2 20.6 1

 2 FA545013005 Fixed nonresidential investment 16.1 18.9 20.4 21.6 21.1 21.5 21.8 21.9 22.6 2

 3 FA544090005 Net acquisition of financial assets 126.5 115.1 130.4 71.8 128.4 88.1 110.8 -40.1 34.3 3

 4 FA543020005 Checkable deposits and currency 5.0 8.8 -7.5 16.8 3.6 31.7 0.9 30.8 -11.2 4

 5 FA543034005 Money market fund shares 3.9 2.6 -12.8 3.6 6.5 3.3 7.0 -2.2 -13.6 5

 6 FA542051073 Security repurchase agreements 0.0 -0.5 -0.3 -0.4 0.0 -0.5 -0.3 -1.0 -0.8 6

 7 FA544022005 Debt securities 79.1 84.9 141.8 76.9 117.4 43.6 86.0 60.5 138.5 7

 8 FA543069105 Open market paper -8.1 -7.5 1.9 -8.7 5.9 -2.1 -16.3 -22.5 0.8 8

 9 FA543061105 Treasury securities 14.0 6.9 20.4 0.0 -0.9 -2.6 -2.2 5.7 4.2 9

 10 FA543061705 Agency- and GSE-backed securities -13.2 -2.7 11.2 8.6 10.7 5.5 11.3 7.0 16.6 10

 11 FA543062005 Municipal securities 7.7 7.3 8.7 7.3 8.6 5.1 9.3 6.4 7.5 11

 12 FA543063005 Corporate and foreign bonds 78.8 80.9 99.5 69.6 93.1 37.7 83.9 63.8 109.4 12

 13 FA544023005 Loans 29.5 41.3 37.4 46.4 62.2 64.1 46.3 13.1 67.0 13

 14 FA543069005 Other loans and advances 7.9 -0.4 2.8 5.5 -2.0 10.5 14.8 -1.2 4.8 14

 15 FA543065005 Mortgages 21.6 41.8 34.5 40.9 64.2 53.7 31.5 14.3 62.3 15

 16 FA543064105 Corporate equities -5.0 31.9 100.2 -15.3 -17.6 -8.8 -16.1 -18.7 46.3 16

 17 FA543064205 Mutual fund shares -53.6 -34.6 -167.0 -77.5 -78.7 -68.0 -62.3 -101.0 -80.5 17

 18 FA543092073 U.S. direct investment abroad 0.1 -0.4 1.4 2.3 3.6 5.0 -3.6 4.2 -6.7 18

 19 FA543090005 Miscellaneous assets 67.4 -18.8 37.3 18.9 31.2 17.6 52.9 -25.9 -104.8 19

 20 FA543092473 Equity in FHLB 0.1 0.5 0.4 0.4 1.1 -0.3 0.0 0.7 1.4 20

 21 FA543077073 Deferred and unpaid life ins. premiums 1.2 1.7 -0.3 1.8 5.5 1.7 0.2 -0.3 9.8 21

 22 FA543093005 Other 66.0 -20.9 37.3 16.8 24.5 16.2 52.6 -26.3 -116.0 22

 23 FA544190005 Net increase in liabilities 96.0 112.8 117.5 75.3 89.2 108.2 34.4 69.2 17.3 23

 24 FA542151073 Security repurchase agreements 1.0 -0.5 0.2 -0.3 0.2 2.4 -2.3 -1.3 -8.9 24

 25 FA543164173 Corporate equity issues -14.9 -10.0 -5.9 -19.9 -30.2 -13.3 -17.2 -19.0 -17.8 25

 26 FA543169373 Loans (other loans and advances) 1.8 6.2 10.1 6.7 11.8 0.5 3.5 10.9 16.2 26

 27 FA543140005 Life insurance reserves 45.2 45.5 24.9 18.2 23.3 1.8 24.6 23.2 32.4 27

 28 FA543150005 Pension entitlements (3) 23.6 91.3 32.3 -22.7 -6.9 -16.9 -47.1 -20.0 -49.5 28

 29 FA543178075 Taxes payable -0.5 0.8 1.0 2.1 -1.7 -5.3 2.3 13.1 -0.8 29

 30 FA543192073 Foreign direct investment in U.S. 1.4 8.8 10.8 8.0 0.5 15.8 5.5 10.3 7.7 30

 31 FA543190005 Miscellaneous liabilities 38.4 -29.2 44.1 83.2 92.4 123.2 65.3 52.0 38.0 31

 32 FA543194733 Investment by parent companies 0.8 0.5 1.3 2.5 1.4 2.6 1.5 4.6 -2.7 32

 33 FA673090543 Funding agreements backing securities (4) 9.2 1.6 6.9 12.1 11.2 15.3 25.1 -3.0 9.9 33

 34 FA543195005 Other reserves (5) 5.8 3.4 22.9 15.6 25.7 6.6 9.4 20.6 36.9 34

 35 FA593095005 Unallocated insurance contracts -14.5 -21.5 0.1 21.7 12.0 15.7 21.5 37.6 -14.8 35

 36 FA543193005 Other 37.1 -13.3 13.0 31.2 42.0 83.0 7.6 -7.7 8.6 36

 37 FA547005005 Discrepancy -23.1 -2.9 -11.0 1.7 -37.4 21.7 -76.0 98.6 -19.1 37

 Memo:

 38 FA543200073 Securities lending (6) -2.4 -4.0 -2.2 1.1 12.8 -1.3 2.7 -9.8 16.2 38

(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 53.

(3) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 35.

(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 36.
Transactions

Z.1, June 7, 2018 31

F.116.g Life Insurance Companies: General Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA544090075 Net acquisition of financial assets 150.7 82.3 165.9 138.3 224.5 170.6 180.9 -22.7 185.8 1

 2 FA543020073 Checkable deposits and currency 4.8 10.9 -11.6 6.3 -5.0 22.0 -10.1 18.4 -12.8 2

 3 FA543034073 Money market fund shares 6.1 0.6 -10.2 5.8 9.6 5.6 8.4 -0.2 -15.1 3

 4 FA542051073 Security repurchase agreements 0.0 -0.5 -0.3 -0.4 0.0 -0.5 -0.3 -1.0 -0.8 4

 5 FA544022075 Debt securities 71.9 34.6 126.5 79.5 128.1 52.4 96.7 40.9 115.5 5

 6 FA543069170 Open market paper -9.6 -4.7 4.4 -4.0 11.3 2.8 -11.7 -18.3 0.1 6

 7 FA543061173 Treasury securities 11.2 3.9 12.5 -0.5 6.5 2.3 6.1 -16.7 1.2 7

 8 FA543061773 Agency- and GSE-backed securities -11.6 -8.0 7.8 7.5 9.2 4.8 9.8 6.1 11.2 8

 9 FA543062073 Municipal securities 7.1 6.8 6.3 7.4 8.6 5.2 9.3 6.4 6.9 9

 10 FA543063075 Corporate and foreign bonds 74.8 36.7 95.5 69.1 92.5 37.3 83.2 63.4 96.0 10

 11 FA544023075 Loans 28.1 26.1 36.5 45.0 60.8 62.7 44.8 11.6 65.3 11

 12 FA543069075 Other loans and advances 7.9 -5.1 3.0 5.6 -1.9 10.6 14.9 -1.1 4.5 12

 13 FA543065070 Mortgages 20.2 31.2 33.5 39.3 62.7 52.1 29.9 12.7 60.8 13

 14 FA543064175 Corporate equities 5.0 3.0 3.1 6.3 4.0 12.8 5.5 2.9 15.7 14

 15 FA543064273 Mutual fund shares 0.5 -0.2 0.9 -0.3 -0.3 -0.3 -0.3 -0.3 1.2 15

 16 FA543092073 U.S. direct investment abroad 0.1 -0.4 1.4 2.3 3.6 5.0 -3.6 4.2 -6.7 16

 17 FA543090075 Miscellaneous assets 34.1 8.2 19.7 -6.2 23.7 10.9 39.7 -99.3 23.4 17

 18 FA544190075 Net increase in liabilities 122.8 63.1 151.3 144.8 153.8 145.1 141.6 138.8 167.2 18

 19 FA542151073 Security repurchase agreements 1.0 -0.5 0.2 -0.3 0.2 2.4 -2.3 -1.3 -8.9 19

 20 FA543164173 Corporate equity issues -14.9 -10.0 -5.9 -19.9 -30.2 -13.3 -17.2 -19.0 -17.8 20

 21 FA543169373 Loans (other loans and advances) 1.8 6.2 10.1 6.7 11.8 0.5 3.5 10.9 16.2 21

 22 FA543140073 Life insurance reserves 46.1 3.8 23.4 39.4 44.1 18.3 50.6 44.4 51.6 22

 23 FA543150075 Pension entitlements (1) 47.6 66.2 66.4 12.6 26.0 -5.4 18.6 11.3 67.9 23

 24 FA543178075 Taxes payable -0.5 0.8 1.0 2.1 -1.7 -5.3 2.3 13.1 -0.8 24

 25 FA543192073 Foreign direct investment in U.S. 1.4 8.8 10.8 8.0 0.5 15.8 5.5 10.3 7.7 25

 26 FA543190075 Miscellaneous liabilities 40.3 -12.1 45.1 96.3 103.2 132.1 80.7 69.1 51.3 26

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 26).

F.116.s Life Insurance Companies: Separate Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA544090085 Net acquisition of financial assets -24.2 32.9 -35.5 -66.5 -96.1 -82.5 -70.0 -17.4 -151.4 1

 2 FA543020083 Checkable deposits and currency 0.2 -2.1 4.1 10.4 8.7 9.8 11.0 12.3 1.6 2

 3 FA543034385 Money market fund shares -2.1 1.9 -2.6 -2.2 -3.1 -2.3 -1.4 -2.0 1.5 3

 4 FA544022085 Debt securities 7.2 50.2 15.3 -2.6 -10.7 -8.8 -10.6 19.6 23.1 4

 5 FA543069183 Open market paper 1.5 -2.8 -2.4 -4.8 -5.3 -4.9 -4.5 -4.2 0.7 5

 6 FA543061183 Treasury securities 2.8 3.0 7.9 0.5 -7.4 -4.9 -8.3 22.4 3.0 6

 7 FA543061783 Agency- and GSE-backed securities -1.6 5.4 3.5 1.2 1.4 0.7 1.5 1.0 5.4 7

 8 FA543062083 Municipal securities 0.6 0.5 2.4 -0.0 -0.0 -0.0 -0.0 -0.0 0.6 8

 9 FA543063085 Corporate and foreign bonds 4.0 44.2 4.0 0.5 0.7 0.3 0.7 0.4 13.4 9

 10 FA544023085 Loans 1.4 15.2 0.9 1.5 1.4 1.5 1.5 1.5 1.7 10

 11 FA543069483 Other loans and advances 0.0 4.7 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 0.3 11

 12 FA543065083 Mortgages 1.4 10.6 1.0 1.6 1.5 1.6 1.6 1.6 1.4 12

 13 FA543064183 Corporate equities -10.0 28.9 97.1 -21.6 -21.6 -21.6 -21.6 -21.6 30.6 13

 14 FA543064285 Mutual fund shares -54.0 -34.4 -167.9 -77.2 -78.4 -67.7 -62.0 -100.7 -81.6 14

 15 FA543090085 Miscellaneous assets 33.3 -26.9 17.6 25.2 7.5 6.7 13.1 73.4 -128.3 15

 16 FA544190085 Net increase in liabilities -26.8 49.7 -33.7 -69.6 -64.6 -36.9 -107.2 -69.6 -149.9 16

 17 FA543140083 Life insurance reserves -0.9 41.7 1.4 -21.1 -20.8 -16.5 -26.1 -21.2 -19.2 17

 18 FA543150085 Pension entitlements (1) -24.0 25.1 -34.1 -35.4 -32.9 -11.5 -65.7 -31.3 -117.4 18

 19 FA543190085 Miscellaneous liabilities -1.9 -17.1 -1.0 -13.1 -10.9 -8.9 -15.4 -17.1 -13.4 19

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds which are included in miscellaneous liabilities (line 19).
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32 Z.1, June 7, 2018

F.117 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA596330005 Gross saving 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 FA595013005 Fixed nonresidential investment 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA594090005 Net acquisition of financial assets (2) 308.4 268.5 399.3 398.5 419.2 358.7 310.9 505.0 329.6 3

 4 FA593020005 Checkable deposits and currency 5.6 4.2 13.1 -3.7 -2.7 -1.5 9.4 -19.8 -4.3 4

 5 FA593030005 Time and savings deposits 1.2 -5.2 -0.5 -1.5 -2.0 -0.5 -0.6 -2.8 -1.0 5

 6 FA593034005 Money market fund shares -1.5 -3.9 12.9 -9.7 -10.7 -5.5 8.6 -31.0 -7.3 6

 7 FA592051005 Security repurchase agreements 0.1 -0.4 1.1 -0.7 -0.7 -0.3 0.6 -2.5 -0.7 7

 8 FA594022005 Debt securities 238.3 78.4 177.0 63.7 -296.4 -265.8 1161.3 -344.3 934.8 8

 9 FA593069105 Open market paper 0.6 -4.3 12.7 -8.1 -8.0 -3.0 7.3 -28.8 -7.7 9

 10 FA593061105 Treasury securities (3) 116.1 55.2 128.8 -33.0 -403.3 -309.8 1050.1 -469.1 854.0 10

 11 FA593061705 Agency- and GSE-backed securities 16.2 -12.2 18.3 27.0 21.4 32.4 7.6 46.8 24.9 11

 12 FA593062045 Municipal securities -0.2 0.0 -0.5 1.2 1.3 0.9 -1.4 4.0 1.2 12

 13 FA593063005 Corporate and foreign bonds 105.5 39.7 17.6 76.6 92.2 13.8 97.8 102.8 62.4 13

 14 FA593065005 Loans (mortgages) 3.3 -1.9 -0.3 -0.7 -2.6 5.7 -0.2 -5.7 -0.6 14

 15 FA593064105 Corporate equities -270.1 -41.6 -183.2 -245.7 -344.2 -95.3 -211.0 -332.1 -218.5 15

 16 FA593064205 Mutual fund shares 56.3 -2.8 12.5 9.6 54.6 39.4 -102.0 46.3 -1.9 16

 17 FA593090005 Miscellaneous assets 275.2 241.6 366.7 587.1 1024.1 682.5 -555.2 1197.0 -370.9 17

 18 FA593095005 Unallocated insurance contracts (4) -14.5 -21.5 0.1 21.7 12.0 15.7 21.5 37.6 -14.8 18

 19 FA573074005 Contributions receivable -2.9 14.7 5.6 6.4 8.5 1.8 6.1 9.3 4.2 19

 20 FA593073005 Claims of pension fund on sponsor (5) 258.6 262.4 294.7 511.5 945.2 647.5 -619.9 1073.2 -390.3 20

 21 FA593093005 Other 33.9 -14.0 66.4 47.5 58.3 17.5 37.1 76.9 29.9 21

 22 FA594190005 Net increase in pension entitlements (liabilities) 308.3 268.3 399.1 398.3 419.1 358.5 310.8 504.9 329.5 22

 Memo:

 23 FA153050015 Household retirement assets (6) 552.3 686.1 666.7 505.9 420.6 367.2 278.9 957.0 ND 23

 24 FA594190045 Defined benefit plans 292.2 292.2 287.2 288.5 288.6 287.8 288.3 289.5 288.8 24

 25 FA594090055 Defined contribution plans 16.1 -23.9 111.9 109.8 130.5 70.8 22.5 215.4 40.7 25

 26 FA893131573 Individual retirement plans (IRAs) (7) 234.3 339.2 255.3 140.2 24.6 39.9 16.4 480.0 ND 26

 27 FA543150015 Annuities at life insurance companies (8) 9.6 78.6 12.3 -32.6 -23.2 -31.2 -48.3 -27.9 ND 27

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements.

(6) 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 26.
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Z.1, June 7, 2018 33

F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA576330005 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA575013005 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA574090005 Net acquisition of financial assets (2) 26.9 -48.1 134.6 54.0 85.6 23.7 -20.1 126.7 11.6 3

 4 FA573020005 Checkable deposits and currency 3.3 0.8 1.7 2.2 2.5 0.5 2.1 3.5 1.5 4

 5 FA573030005 Time and savings deposits 1.9 -4.5 -1.0 -1.1 -1.7 -0.3 -1.0 -1.4 -0.7 5

 6 FA573034005 Money market fund shares 0.9 -4.6 0.2 -1.5 -3.0 -1.9 -0.4 -0.7 0.3 6

 7 FA572051005 Security repurchase agreements 0.2 -0.4 -0.1 -0.1 -0.2 -0.0 -0.1 -0.2 -0.1 7

 8 FA574022005 Debt securities 95.5 -14.1 49.1 60.0 72.0 15.0 57.7 95.2 42.0 8

 9 FA573069105 Open market paper 2.0 -4.9 -1.0 -1.1 -1.7 -0.3 -1.0 -1.3 -0.6 9

 10 FA573061105 Treasury securities 14.2 -12.6 10.3 13.6 13.9 2.9 13.4 24.2 10.3 10

 11 FA573061705 Agency- and GSE-backed securities 9.2 -0.7 3.7 4.4 5.4 1.1 4.2 6.9 3.1 11

 12 FA573063005 Corporate and foreign bonds 70.1 4.0 36.2 43.0 54.3 11.3 41.0 65.5 29.3 12

 13 FA573065005 Loans (mortgages) 1.7 -2.0 -0.2 -0.2 -0.3 -0.1 -0.2 -0.2 -0.1 13

 14 FA573064105 Corporate equities -183.9 -52.4 -67.4 -126.9 -169.7 -63.5 -120.0 -154.3 -92.0 14

 15 FA573064205 Mutual fund shares 40.6 -41.8 66.9 24.8 46.4 55.1 -44.7 42.4 19.9 15

 16 FA573090005 Miscellaneous assets 66.8 71.1 85.4 96.8 139.6 18.9 86.5 142.3 40.8 16

 17 FA573095005 Unallocated insurance contracts (3) -8.1 -21.4 6.7 6.5 7.3 6.1 3.1 9.3 -10.7 17

 18 FA573074005 Contributions receivable -2.9 14.7 5.6 6.4 8.5 1.8 6.1 9.3 4.2 18

 19 FA573073005 Claims of pension fund on sponsor (4) 51.9 93.6 50.0 55.4 90.1 4.0 49.8 77.7 27.1 19

 20 FA573093005 Other 25.9 -15.8 23.1 28.6 33.6 7.0 27.5 46.0 20.2 20

 21 FA574190005 Net increase in pension entitlements (liabilities) 26.8 -48.1 134.6 53.9 85.6 23.7 -20.1 126.6 11.6 21

 Memo:

 Net acquisition of financial assets

 22 FA574090045 Defined benefit plans (5) -0.8 -5.4 -17.7 -18.3 -18.3 -18.3 -18.3 -18.3 -18.3 22

 23 FA574090055 Defined contribution plans (6) 27.6 -42.7 152.3 72.3 103.9 42.0 -1.7 145.0 30.0 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) 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.
Transactions

34 Z.1, June 7, 2018

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA574090045 Net acquisition of financial assets (1) -0.8 -5.4 -17.7 -18.3 -18.3 -18.3 -18.3 -18.3 -18.3 1

 2 FA573020043 Checkable deposits and currency 2.1 -0.8 0.6 0.6 0.9 0.2 0.6 0.8 0.4 2

 3 FA573030043 Time and savings deposits 2.0 -4.5 -1.1 -1.2 -1.8 -0.4 -1.1 -1.6 -0.8 3

 4 FA573034043 Money market fund shares 2.3 -5.4 -1.3 -1.5 -2.2 -0.4 -1.4 -1.9 -0.9 4

 5 FA572051043 Security repurchase agreements 0.2 -0.4 -0.1 -0.1 -0.2 -0.0 -0.1 -0.2 -0.1 5

 6 FA574022045 Debt securities 67.6 -17.7 20.8 22.6 33.3 6.8 20.9 29.5 13.9 6

 7 FA573069143 Open market paper 2.1 -5.0 -1.2 -1.3 -2.0 -0.4 -1.2 -1.7 -0.8 7

 8 FA573061143 Treasury securities 6.3 -6.9 -0.4 -0.4 -0.7 -0.1 -0.4 -0.6 -0.3 8

 9 FA573061743 Agency- and GSE-backed securities 4.4 0.0 1.8 2.0 2.9 0.6 1.8 2.6 1.2 9

 10 FA573063043 Corporate and foreign bonds 54.7 -5.9 20.6 22.4 33.0 6.8 20.7 29.2 13.8 10

 11 FA573065043 Loans (mortgages) 0.1 -0.6 -0.3 -0.3 -0.4 -0.1 -0.3 -0.4 -0.2 11

 12 FA573064143 Corporate equities -141.5 -49.5 -83.4 -90.9 -133.7 -27.5 -84.0 -118.3 -56.0 12

 13 FA573064243 Mutual fund shares 1.0 -30.5 -12.7 -13.9 -20.4 -4.2 -12.8 -18.1 -8.5 13

 14 FA573090045 Miscellaneous assets 65.4 104.1 59.9 66.3 106.1 7.3 59.8 91.8 33.8 14

 15 FA573095405 Unallocated insurance contracts (2) -3.0 -3.0 -2.6 -2.8 -4.2 -0.9 -2.6 -3.7 -1.7 15

 16 FA573074043 Contributions receivable -3.9 13.2 4.0 4.3 6.4 1.3 4.0 5.6 2.7 16

 17 FA573073005 Claims of pension fund on sponsor (3) 51.9 93.6 50.0 55.4 90.1 4.0 49.8 77.7 27.1 17

 18 FA573093043 Other 20.4 0.3 8.6 9.3 13.7 2.8 8.6 12.2 5.8 18

 19 FA574190043 Net increase in pension entitlements (liabilities) -0.8 -5.4 -17.7 -18.4 -18.4 -18.4 -18.4 -18.4 -18.4 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements.

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 27.6 -42.7 152.3 72.3 103.9 42.0 -1.7 145.0 30.0 1

 2 FA573020033 Checkable deposits and currency 1.1 1.6 1.2 1.6 1.6 0.3 1.5 2.7 1.2 2

 3 FA573030033 Time and savings deposits -0.1 0.0 0.1 0.1 0.1 0.0 0.1 0.2 0.1 3

 4 FA573034055 Money market fund shares -1.5 0.8 1.5 -0.1 -0.9 -1.5 1.0 1.2 1.2 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 27.9 3.7 28.3 37.3 38.7 8.2 36.8 65.8 28.1 6

 7 FA573069133 Open market paper -0.1 0.1 0.2 0.3 0.3 0.1 0.2 0.4 0.2 7

 8 FA573061133 Treasury securities 7.9 -5.6 10.7 14.1 14.6 3.1 13.8 24.8 10.6 8

 9 FA573061733 Agency- and GSE-backed securities 4.8 -0.7 1.9 2.5 2.5 0.5 2.4 4.3 1.8 9

 10 FA573063033 Corporate and foreign bonds 15.4 9.9 15.6 20.6 21.3 4.5 20.3 36.2 15.5 10

 11 FA573065033 Loans (mortgages) 1.6 -1.4 0.1 0.1 0.1 0.0 0.1 0.1 0.1 11

 12 FA573064133 Corporate equities -42.4 -2.9 16.0 -36.0 -36.0 -36.0 -36.0 -36.0 -36.0 12

 13 FA573064255 Mutual fund shares 39.6 -11.3 79.7 38.7 66.8 59.3 -31.8 60.4 28.4 13

 14 FA573090055 Miscellaneous assets 1.4 -33.1 25.4 30.6 33.5 11.6 26.7 50.5 7.0 14

 15 FA573095505 Unallocated insurance contracts (2) -5.1 -18.4 9.3 9.3 11.5 7.0 5.7 13.0 -9.0 15

 16 FA573074033 Contributions receivable 1.0 1.5 1.6 2.1 2.2 0.5 2.1 3.7 1.6 16

 17 FA573093033 Other 5.5 -16.2 14.6 19.2 19.9 4.2 18.9 33.8 14.4 17

 18 FA574090055 Net increase in pension entitlements (liabilities) 27.6 -42.7 152.3 72.3 103.9 42.0 -1.7 145.0 30.0 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
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Z.1, June 7, 2018 35

F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA344090005 Net acquisition of financial assets (1) 107.4 112.1 110.1 112.3 112.4 110.9 112.1 113.9 120.2 1

 2 FA343020033 Checkable deposits and currency 0.3 -0.0 -0.0 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 FA344022005 Debt securities 86.7 93.1 100.9 -84.1 -443.8 -364.4 1032.1 -560.3 805.0 3

 4 FA343061105 Treasury securities (2) 87.3 91.6 99.8 -84.7 -444.4 -365.1 1030.9 -560.1 805.7 4

 5 FA343061705 Agency- and GSE-backed securities -0.5 0.2 0.4 0.3 0.2 0.3 1.0 -0.2 -0.5 5

 6 FA343062033 Municipal securities -0.0 -0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 6

 7 FA343063005 Corporate and foreign bonds 0.0 1.3 0.7 0.2 0.4 0.4 0.3 -0.1 -0.3 7

 8 FA343064105 Corporate equities -1.2 0.0 -5.6 6.3 3.0 4.8 -6.0 23.5 -1.4 8

 9 FA343073005 Claims of pension fund on sponsor (misc. assets) (3) 21.6 18.9 14.9 189.9 552.9 470.3 -914.3 650.5 -683.6 9

 10 FA344090005 Net increase in pension entitlements (liabilities) 107.4 112.1 110.1 112.3 112.4 110.9 112.1 113.9 120.2 10

 Memo:

 Net acquisition of financial assets

 11 FA344090045 Defined benefit plans (4) 89.0 93.1 97.7 98.0 98.1 97.2 97.7 98.9 98.2 11

 12 FA344090055 Defined contibution plans (5) 18.4 19.0 12.4 14.4 14.3 13.7 14.3 15.0 22.0 12

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Additional detail on defined benefit plans is available on table F.119.b

(5) Additional detail on defined contribution plans is available on table F.119.c.
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36 Z.1, June 7, 2018

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA344090045 Net acquisition of financial assets (2) 89.0 93.1 97.7 98.0 98.1 97.2 97.7 98.9 98.2 1

 2 FA343020033 Checkable deposits and currency 0.3 -0.0 -0.0 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 FA344022045 Debt securities 68.3 76.0 84.0 68.4 -21.6 -236.2 494.0 37.3 175.4 3

 4 FA343061165 Treasury securities (3) 68.8 75.4 83.8 68.5 -21.9 -236.3 495.2 37.0 175.2 4

 5 FA343061733 Agency- and GSE-backed securities -0.2 0.1 0.2 0.0 0.0 0.0 -0.1 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 -0.2 0.6 0.0 -0.1 0.2 0.0 -1.0 0.3 0.2 7

 8 FA343064135 Corporate equities -1.2 -1.8 -1.2 -1.9 -2.9 -2.0 0.2 -2.8 -2.1 8

 9 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) 21.6 18.9 14.9 31.2 122.4 335.1 -396.7 64.1 -75.3 9

 10 FA344190045 Net increase in pension entitlements (liabilities) 89.0 93.1 97.7 98.0 98.1 97.2 97.7 98.9 98.2 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 FA344090025 Net acquisition of financial assets 18.4 19.0 12.4 14.4 14.3 13.7 14.3 15.0 22.0 1

 2 FA344022025 Debt securities 18.4 17.1 16.8 -152.5 -422.2 -128.2 538.1 -597.7 629.6 2

 3 FA343061155 Treasury securities (2) 18.5 16.2 16.0 -153.2 -422.5 -128.8 535.7 -597.1 630.5 3

 4 FA343061723 Agency- and GSE-backed securities -0.3 0.1 0.1 0.3 0.2 0.3 1.1 -0.3 -0.4 4

 5 FA343063023 Corporate and foreign bonds 0.2 0.8 0.7 0.4 0.2 0.3 1.2 -0.3 -0.5 5

 6 FA343064125 Corporate equities 0.0 1.9 -4.5 8.2 6.0 6.8 -6.2 26.3 0.7 6

 7 FA343073053 Claims of pension fund on sponsor (misc. assets) (3) 0.0 0.0 0.0 158.7 430.6 135.2 -517.5 586.4 -608.3 7

 8 FA344090025 Net increase in pension entitlements (liabilities) 18.4 19.0 12.4 14.4 14.3 13.7 14.3 15.0 22.0 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
Transactions

Z.1, June 7, 2018 37

F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA226330005 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 FA225013005 Fixed nonresidential investment 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA224090005 Net acquisition of financial assets (1) 174.1 204.5 154.6 232.2 221.3 224.1 218.9 264.5 197.8 3

 4 FA223020043 Checkable deposits and currency 2.1 3.5 11.4 -6.0 -5.4 -2.2 7.1 -23.6 -6.0 4

 5 FA223030043 Time and savings deposits -0.7 -0.7 0.5 -0.4 -0.3 -0.1 0.4 -1.4 -0.4 5

 6 FA223034005 Money market fund shares -2.4 0.7 12.7 -8.1 -7.7 -3.6 9.0 -30.4 -7.6 6

 7 FA222051043 Security repurchase agreements -0.1 0.1 1.2 -0.6 -0.5 -0.2 0.7 -2.4 -0.6 7

 8 FA224022045 Debt securities 56.1 -0.6 27.0 87.8 75.4 83.5 71.5 120.8 87.8 8

 9 FA223069143 Open market paper -1.4 0.6 13.7 -7.0 -6.3 -2.6 8.2 -27.5 -7.0 9

 10 FA223061143 Treasury securities 14.7 -23.8 18.7 38.0 27.2 52.3 5.8 66.7 38.0 10

 11 FA223061743 Agency- and GSE-backed securities 7.6 -11.7 14.3 22.3 15.7 30.9 2.3 40.1 22.3 11

 12 FA223062043 Municipal securities -0.2 0.0 -0.5 1.2 1.3 0.9 -1.4 4.0 1.2 12

 13 FA223063045 Corporate and foreign bonds 35.5 34.3 -19.3 33.4 37.5 2.1 56.5 37.4 33.4 13

 14 FA223065043 Loans (mortgages) 1.7 0.1 -0.1 -0.5 -2.3 5.7 -0.0 -5.5 -0.5 14

 15 FA223064145 Corporate equities -85.0 10.8 -110.2 -125.1 -177.6 -36.6 -85.0 -201.2 -125.1 15

 16 FA223064205 Mutual fund shares 15.8 39.0 -54.4 -15.3 8.1 -15.7 -57.4 3.9 -21.7 16

 17 FA223090005 Miscellaneous assets 186.8 151.6 266.5 300.4 331.6 193.3 272.6 404.2 271.9 17

 18 FA223095505 Unallocated insurance contracts (2) -6.4 -0.1 -6.6 15.3 4.7 9.6 18.4 28.3 -4.1 18

 19 FA223073045 Claims of pension fund on sponsor (3) 185.1 149.9 229.9 266.2 302.1 173.2 244.6 345.0 266.2 19

 20 FA223093005 Other 8.1 1.8 43.3 18.9 24.7 10.4 9.6 30.9 9.7 20

 21 FA224190005 Net increase in pension entitlements (liabilities) 174.1 204.4 154.4 232.1 221.1 223.9 218.8 264.3 197.7 21

 Memo:

 Net acquisition of financial assets

 22 FA224090045 Defined benefit plans (4) 204.1 204.6 207.3 209.1 209.1 209.1 209.1 209.1 209.1 22

 23 FA224090055 Defined contibution plans (5) -29.9 -0.1 -52.8 23.1 12.2 15.0 9.9 55.4 -11.3 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements.

(4) 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, June 7, 2018

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA224090045 Net acquisition of financial assets (1) 204.1 204.6 207.3 209.1 209.1 209.1 209.1 209.1 209.1 1

 2 FA223020043 Checkable deposits and currency 2.1 3.5 11.4 -6.0 -5.4 -2.2 7.1 -23.6 -6.0 2

 3 FA223030043 Time and savings deposits -0.7 -0.7 0.5 -0.4 -0.3 -0.1 0.4 -1.4 -0.4 3

 4 FA223034043 Money market fund shares -1.6 0.6 15.1 -7.7 -6.9 -2.9 9.0 -30.1 -7.7 4

 5 FA222051043 Security repurchase agreements -0.1 0.1 1.2 -0.6 -0.5 -0.2 0.7 -2.4 -0.6 5

 6 FA224022045 Debt securities 56.1 -0.6 27.0 87.8 75.4 83.5 71.5 120.8 87.8 6

 7 FA223069143 Open market paper -1.4 0.6 13.7 -7.0 -6.3 -2.6 8.2 -27.5 -7.0 7

 8 FA223061143 Treasury securities 14.7 -23.8 18.7 38.0 27.2 52.3 5.8 66.7 38.0 8

 9 FA223061743 Agency- and GSE-backed securities 7.6 -11.7 14.3 22.3 15.7 30.9 2.3 40.1 22.3 9

 10 FA223062043 Municipal securities -0.2 0.0 -0.5 1.2 1.3 0.9 -1.4 4.0 1.2 10

 11 FA223063045 Corporate and foreign bonds 35.5 34.3 -19.3 33.4 37.5 2.1 56.5 37.4 33.4 11

 12 FA223065043 Loans (mortgages) 1.7 0.1 -0.1 -0.5 -2.3 5.7 -0.0 -5.5 -0.5 12

 13 FA223064145 Corporate equities -85.0 10.8 -110.2 -125.1 -177.6 -36.6 -85.0 -201.2 -125.1 13

 14 FA223064243 Mutual fund shares 41.8 37.4 15.6 -14.9 -0.1 -16.6 -36.7 -6.2 -14.9 14

 15 FA223090045 Miscellaneous assets 189.9 153.4 246.9 276.5 326.8 178.5 242.1 358.7 276.5 15

 16 FA223073045 Claims of pension fund on sponsor (2) 185.1 149.9 229.9 266.2 302.1 173.2 244.6 345.0 266.2 16

 17 FA223093043 Other 4.8 3.5 17.1 10.3 24.7 5.3 -2.5 13.7 10.3 17

 18 FA224190043 Net increase in pension entitlements (liabilities) 204.0 204.5 207.2 208.9 208.9 208.9 208.9 208.9 208.9 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 -29.9 -0.1 -52.8 23.1 12.2 15.0 9.9 55.4 -11.3 1

 2 FA223034055 Money market fund shares -0.8 0.1 -2.3 -0.4 -0.8 -0.7 -0.0 -0.2 0.2 2

 3 FA223064255 Mutual fund shares -26.0 1.6 -70.0 -0.3 8.2 0.9 -20.6 10.1 -6.8 3

 4 FA223090055 Miscellaneous assets -3.1 -1.8 19.6 23.9 4.7 14.8 30.5 45.5 -4.6 4

 5 FA223095505 Unallocated insurance contracts (misc. assets) (2) -6.4 -0.1 -6.6 15.3 4.7 9.6 18.4 28.3 -4.1 5

 6 FA223093053 Other 3.3 -1.7 26.2 8.6 0.0 5.2 12.0 17.2 -0.6 6

 7 FA224090055 Net increase in pension entitlements (liabilities) -29.9 -0.1 -52.8 23.1 12.2 15.0 9.9 55.4 -11.3 7

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
Transactions

Z.1, June 7, 2018 39

F.121 Money Market Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA634090005 Net acquisition of financial assets 6.8 30.1 -26.6 119.2 6.0 62.0 264.7 144.0 50.9 1

 2 FA633091003 Foreign deposits -9.8 -13.4 -9.2 1.9 6.9 -1.3 9.1 -7.3 -10.0 2

 3 FA633020000 Checkable deposits and currency -17.9 11.9 22.0 -7.5 -54.2 -26.3 113.2 -62.8 -43.0 3

 4 FA633030000 Time and savings deposits 20.4 -78.4 -298.2 32.6 122.6 -48.2 83.9 -27.8 -47.5 4

 5 FA632051000 Security repurchase agreements 152.9 44.8 100.9 156.2 240.6 312.7 -50.6 122.0 -472.8 5

 6 FA634022005 Debt securities -124.2 72.2 164.3 -63.6 -226.7 -147.8 103.9 16.2 698.4 6

 7 FA633069175 Open market paper -19.2 -39.8 -195.0 44.4 -59.0 101.4 80.5 54.6 -68.8 7

 8 FA633061105 Treasury securities -77.1 63.9 313.3 -94.1 -250.4 -184.9 31.7 27.4 675.2 8

 9 FA633061700 Agency- and GSE-backed securities 23.3 76.9 210.4 4.7 80.0 -46.5 15.6 -30.3 71.9 9

 10 FA633062000 Municipal securities -26.9 -13.6 -106.2 -19.9 -4.8 -14.0 -28.9 -31.9 25.0 10

 11 FA633063003 Corporate and foreign bonds -24.2 -15.1 -58.2 1.3 7.5 -3.8 4.9 -3.5 -4.8 11

 12 FA633093005 Miscellaneous assets -14.7 -7.0 -6.4 -0.4 -83.3 -27.2 5.3 103.6 -74.3 12

 13 FA634090005 Net share issues (liabilities) 6.8 30.1 -26.6 119.2 6.0 62.0 264.7 144.0 50.9 13

 Memo:

 14 FA634090503 Variable annuity money market funds included above -2.7 1.9 -3.2 -3.7 -5.8 -4.7 -1.4 -2.8 2.0 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 -77.0 -85.9 23.6 1.1 1.5 1.0 1.0 1.0 1.0 1

 2 FA654090000 Net acquisition of financial assets 309.7 96.7 24.6 313.0 173.3 306.5 372.3 399.8 131.7 2

 3 FA652051003 Security repurchase agreements 9.9 -12.4 2.3 14.0 37.6 -7.6 26.0 -0.1 -20.8 3

 4 FA654022005 Debt securities 93.1 116.7 246.6 374.1 396.5 407.5 372.0 320.5 378.7 4

 5 FA653069100 Open market paper 9.9 -12.4 2.3 14.0 19.3 -7.4 35.8 8.2 -37.7 5

 6 FA653061105 Treasury securities 193.3 155.3 91.6 195.1 119.3 -86.5 497.5 249.9 114.9 6

 7 FA653061703 Agency- and GSE-backed securities -200.4 -98.2 14.5 -4.9 -69.3 423.7 -314.3 -59.6 62.2 7

 8 FA653062003 Municipal securities 15.1 16.2 41.4 40.0 45.7 44.1 40.7 29.5 53.8 8

 9 FA653063005 Corporate and foreign bonds 75.1 55.8 96.8 129.9 281.5 33.6 112.1 92.5 185.6 9

 10 FA653069803 Loans (other loans and advances) 9.4 -15.6 18.6 25.7 34.5 40.5 22.9 4.8 -3.9 10

 11 FA653064100 Corporate equities 94.5 56.8 -115.5 -136.8 -224.3 -87.5 -74.3 -161.0 -88.7 11

 12 FA653093005 Miscellaneous assets 102.8 -48.7 -127.4 36.0 -71.1 -46.3 25.7 235.6 -133.6 12

 13 FA653164205 Net share issues (liabilities) 309.7 96.7 24.6 313.0 173.3 306.5 372.3 399.8 131.7 13

 14 FA657005005 Discrepancy -77.0 -85.9 23.6 1.1 1.5 1.0 1.0 1.0 1.0 14

 Memo:

 15 FA654090500 Variable annuity mutual funds included above -46.7 -44.4 -60.1 -92.6 -94.8 -81.3 -77.4 -116.7 -108.5 15

 Net acquisition of financial assets by investment objective:

 16 FA654091603 Domestic equity funds -0.8 -101.9 -162.5 -158.4 -65.2 -133.5 -230.5 -204.3 -177.9 16

 17 FA654092603 World equity funds 120.0 127.1 12.1 118.2 44.8 143.0 101.9 182.9 172.7 17

 18 FA654091403 Hybrid funds 56.6 8.3 -17.5 -3.1 -2.8 -0.9 -11.8 3.2 -6.6 18

 19 FA654091303 Taxable bond funds 93.1 35.0 155.5 315.6 338.2 291.8 306.6 325.8 269.4 19

 20 FA654091203 Municipal bond funds 40.8 28.2 37.0 40.7 42.4 47.2 49.6 23.4 56.8 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).
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40 Z.1, June 7, 2018

F.123 Closed-End Funds 

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA554090005 Net acquisition of financial assets 4.9 1.8 1.6 0.5 2.8 -2.4 1.5 0.3 -0.6 1

 2 FA554022005 Debt securities 0.6 0.5 1.5 1.1 2.4 0.9 -0.2 1.3 -0.0 2

 3 FA553061103 Treasury securities -0.2 -0.5 -2.2 0.0 0.2 -0.0 0.1 -0.1 -0.1 3

 4 FA553062003 Municipal securities 0.6 -0.1 0.6 0.1 0.0 0.6 -0.2 0.1 -0.0 4

 5 FA553063003 Corporate and foreign bonds 0.3 1.0 3.2 0.9 2.2 0.3 -0.1 1.3 0.1 5

 6 FA553064103 Corporate equities 4.3 1.3 0.1 -0.5 0.4 -3.3 1.7 -1.0 -0.5 6

 7 FA554090005 Net share issues (liabilities) 4.9 1.8 1.6 0.5 2.8 -2.4 1.5 0.3 -0.6 7

 Memo:

 Net acquisition of financial assets by investment objective:

 8 FA554091603 Domestic equity funds 3.8 0.2 0.2 -0.1 0.1 -3.1 1.9 0.6 -0.0 8

 9 FA554092603 World equity funds 0.5 1.0 -0.2 -0.4 0.3 -0.2 -0.2 -1.5 -0.5 9

 10 FA554091303 Domestic taxable bond funds 0.3 0.7 1.4 0.7 1.5 0.5 0.2 0.7 0.0 10

 11 FA554091203 Municipal bond funds 0.6 -0.1 0.6 0.1 0.0 0.6 -0.2 0.1 -0.0 11

 12 FA554092303 World bond funds -0.2 -0.1 -0.5 0.2 0.8 -0.2 -0.2 0.6 -0.0 12

F.124 Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA564090005 Net acquisition of financial assets 240.8 231.0 283.9 470.8 535.7 447.9 349.0 550.6 249.9 1

 2 FA564022005 Debt securities 51.6 55.3 83.9 121.9 140.0 132.8 128.3 86.4 63.8 2

 3 FA563061103 Treasury securities 13.2 14.3 14.3 27.5 36.9 22.7 36.4 14.0 40.9 3

 4 FA563062003 Municipal securities 3.2 3.9 6.2 5.2 2.5 5.8 4.8 7.5 2.8 4

 5 FA563063003 Corporate and foreign bonds 35.2 37.2 63.4 89.2 100.6 104.3 87.1 64.9 20.1 5

 6 FA563064103 Corporate equities 190.7 173.5 188.4 347.3 392.9 307.0 218.3 471.1 174.4 6

 7 FA563093003 Miscellaneous assets (1) -1.4 2.1 11.7 1.6 2.8 8.1 2.4 -6.9 11.8 7

 8 FA564090005 Net share issues (liabilities) 240.8 231.0 283.9 470.8 535.7 447.9 349.0 550.6 249.9 8

 Memo:

 Net acquisition of financial assets by investment objective:

 9 FA564091603 Domestic equity funds 143.0 63.1 167.5 186.0 236.5 81.2 110.6 315.7 13.2 9

 10 FA564092603 World equity funds 46.6 109.7 20.2 159.8 155.0 224.4 106.1 153.6 159.4 10

 11 FA563093003 Commodity funds (1) -1.4 2.1 11.7 1.6 2.8 8.1 2.4 -6.9 11.8 11

 12 FA564091403 Hybrid funds 1.6 1.1 1.1 2.5 2.2 2.3 2.5 2.9 2.8 12

 13 FA564091303 Taxable bond funds 47.8 51.0 77.3 115.8 136.7 126.1 122.6 77.8 59.9 13

 14 FA564091203 Municipal bond funds 3.2 3.9 6.2 5.2 2.5 5.8 4.8 7.5 2.7 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA406000105 Gross saving 7.4 6.9 7.1 5.4 6.7 5.8 5.0 4.0 7.2 1

 2 FA405013005 Fixed nonresidential investment 3.6 2.4 1.6 1.7 1.6 1.7 1.7 1.7 1.8 2

 3 FA404090005 Net acquisition of financial assets 50.2 102.8 203.0 141.3 182.6 74.2 208.0 100.2 168.9 3

 4 FA403020005 Checkable deposits and currency -16.6 -24.0 7.8 0.7 -27.7 -35.2 18.9 46.8 -103.3 4

 5 FA403030005 Time and savings deposits -2.1 -0.7 3.4 1.7 -1.6 1.4 2.4 4.4 4.8 5

 6 FA402050005 Federal funds and security repos 10.3 20.2 2.1 10.6 90.8 -21.6 2.8 -29.7 92.6 6

 7 FA404022005 Debt securities -18.9 -25.3 -4.2 -38.9 -23.5 -37.0 -66.5 -28.5 15.0 7

 8 FA403069105 Open market paper 1.5 -0.5 0.5 0.5 -2.0 2.1 0.2 1.5 3.0 8

 9 FA403061105 Treasury securities 5.2 23.2 14.9 -1.1 22.1 -13.8 -22.1 9.3 20.0 9

 10 FA403061705 Agency- and GSE-backed securities 7.8 -14.3 5.9 -20.0 -19.7 -8.9 -22.7 -28.5 -5.9 10

 11 FA403062005 Municipal securities -2.6 -2.6 -2.4 -1.2 -0.7 -1.8 -1.7 -0.6 -0.7 11

 12 FA403063005 Corporate and foreign bonds -30.8 -31.1 -23.2 -17.0 -23.2 -14.6 -20.2 -10.1 -1.4 12

 13 FA404023005 Loans 88.5 139.1 191.3 207.0 249.7 135.4 240.8 201.9 185.2 13

 14 FA403069305 Other loans and advances 84.3 74.4 78.9 32.5 -29.8 34.6 124.9 0.5 27.2 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 11.2 8.8 5.9 4.7 -7.3 6.3 3.4 16.5 -0.2 16

 17 FA403069330 FHLB loans 73.1 65.6 73.1 27.8 -22.5 28.3 121.5 -16.1 27.4 17

 18 FA403065005 Mortgages 4.3 64.7 112.4 174.4 279.5 100.8 115.9 201.4 158.0 18

 19 FA403065105 Home 3.2 48.0 79.0 137.6 231.2 88.3 82.8 148.1 161.8 19

 20 FA403065195 Consolidated trusts (2) 28.1 82.6 117.7 185.6 270.3 134.1 108.5 229.5 187.6 20

 21 FA403065185 Other -24.8 -34.6 -38.6 -48.0 -39.1 -45.8 -25.7 -81.4 -25.8 21

 22 FA403065405 Multifamily residential -2.7 8.4 26.2 31.7 43.6 6.9 27.9 48.4 -5.1 22

 23 FA403065495 Consolidated trusts (2) 18.3 22.4 36.6 40.7 41.9 38.7 38.7 43.5 18.9 23

 24 FA403065485 Other -21.0 -14.0 -10.4 -9.0 1.7 -31.8 -10.8 4.9 -24.0 24

 25 FA403065605 Farm 3.8 8.3 7.1 5.1 4.8 5.6 5.2 4.9 1.3 25

 26 FA403066005 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA403093005 Miscellaneous assets -11.0 -6.5 2.6 -39.8 -105.2 31.3 9.6 -94.7 -25.5 27

 28 FA404190005 Net increase in liabilities 70.0 87.4 201.0 154.3 -13.1 213.9 181.3 235.2 -114.9 28

 29 FA402150005 Federal funds and security repos 0.1 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FA403161705 Debt securities (GSE issues) (4) 75.3 93.5 194.2 153.1 28.2 198.4 153.1 232.7 -122.4 30

 31 FA403161795 Consolidated trusts (2) 46.4 104.9 154.3 226.3 312.1 172.8 147.2 272.9 206.5 31

 32 FA403161785 Other 28.9 -11.4 39.9 -73.2 -283.9 25.6 5.9 -40.3 -328.9 32

 33 FA403169283 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 FA403164105 Corporate equities -1.7 -1.4 3.2 0.9 -4.8 8.5 1.5 -1.6 13.1 34

 35 FA403190005 Miscellaneous liabilities -3.6 -4.6 3.7 0.3 -36.5 7.1 26.6 4.1 -5.7 35

 36 FA407005005 Discrepancy 23.5 -10.9 3.6 16.8 -190.7 143.8 -23.4 137.3 -278.4 36

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.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) Sallie Mae student loans.

(4) 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 75.0 126.9 157.5 193.6 218.5 188.9 174.3 192.7 194.5 1

 2 FA413065105 Home mortgages 50.8 94.1 115.8 141.1 186.6 146.0 123.0 109.0 146.6 2

 3 FA413065405 Multifamily residential mortgages 24.3 32.2 41.3 53.4 31.9 46.7 51.4 83.8 48.3 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 -0.1 0.7 0.3 -1.0 -0.0 -3.8 -0.0 -0.0 -0.4 5

 6 FA413065005 Net increase in pool securities (liabilities)(2) 75.0 126.9 157.5 193.6 218.5 188.9 174.3 192.7 194.5 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.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.

(2) Such issues are classified as agency- and GSE-backed securities.
Transactions

42 Z.1, June 7, 2018

F.127 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 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 -58.0 -51.1 -96.7 -40.0 -98.5 10.6 -63.3 -8.8 -53.2 3

 4 FA674022005 Debt securities 5.5 0.9 -8.3 -8.3 -18.2 -15.1 -3.3 3.3 5.4 4

 5 FA673061103 Treasury securities 5.5 1.0 -8.3 -8.3 -18.2 -15.1 -3.3 3.3 5.4 5

 6 FA673061703 Agency- and GSE-backed securities (1) 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FA674023005 Loans -68.3 -56.3 -95.2 -42.3 -91.6 13.8 -85.4 -6.2 -69.3 7

 8 FA673069005 Other loans and advances 9.1 -1.0 1.0 6.5 -9.1 39.2 -24.3 20.1 -15.2 8

 9 FA673065005 Mortgages (2) -78.0 -51.5 -100.2 -32.7 -109.3 -24.8 -37.5 40.6 -50.2 9

 10 FA673065105 Home -64.6 -70.6 -62.9 -28.7 -23.1 -41.7 -29.9 -20.1 -52.7 10

 11 FA673065405 Multifamily residential -2.4 -6.4 -14.2 -4.7 -16.6 -10.1 2.7 5.1 -6.9 11

 12 FA673065505 Commercial -11.1 25.5 -23.2 0.7 -69.7 27.1 -10.3 55.6 9.5 12

 13 FA673066000 Consumer credit 0.6 -3.8 4.0 -16.1 26.8 -0.6 -23.5 -67.0 -4.0 13

 14 FA673070003 Trade credit -4.4 2.7 -0.1 -1.5 0.1 -3.4 0.3 -2.8 0.9 14

 15 FA673090543 Miscellaneous assets (funding agreements) (3) 9.2 1.6 6.9 12.1 11.2 15.3 25.1 -3.0 9.9 15

 16 FA674122005 Net increase in liabilities -58.0 -51.1 -96.7 -40.0 -98.5 10.6 -63.3 -8.8 -53.2 16

 17 FA673169105 Commercial paper -45.5 -2.7 4.7 -11.3 -45.8 14.4 -18.7 5.0 -3.9 17

 18 FA673163005 Corporate bonds (net) (4) -12.5 -48.4 -101.4 -28.7 -52.8 -3.8 -44.6 -13.7 -49.3 18

 19 FA677005005 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Memo:

 Securitized assets not included above

 20 FA675013263 Consumer leases (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA643065045 REIT assets (6) 12.4 -29.6 -8.7 -24.4 -38.7 -31.2 -18.2 -9.5 7.4 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, June 7, 2018 43

F.128 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA616000105 Gross saving less net capital transfers paid (2) 81.9 101.8 115.9 106.9 123.4 118.0 112.2 74.0 119.9 1

 2 FA615013005 Fixed nonresidential investment 89.3 97.7 96.0 101.1 97.4 99.7 102.2 104.9 106.5 2

 3 FA614090005 Net acquisition of financial assets 33.5 -10.9 -58.5 -39.3 -65.5 -13.2 -96.4 17.7 -65.1 3

 4 FA613020003 Checkable deposits and currency -0.2 0.1 -9.6 -2.2 -7.0 -2.6 -2.5 3.4 -5.0 4

 5 FA613030003 Time and savings deposits -0.5 0.4 -28.9 -6.6 -21.1 -7.8 -7.5 10.0 -15.1 5

 6 FA613063003 Debt securities (corporate and foreign bonds) 4.6 2.2 9.9 -10.6 -13.0 -12.3 -15.0 -2.3 -0.3 6

 7 FA614023005 Loans 6.5 -17.2 -51.1 -23.1 12.3 -8.4 -70.9 -25.5 15.2 7

 8 FA613069500 Other loans and advances 10.2 13.6 -16.7 -0.8 28.3 0.2 -26.6 -5.1 24.1 8

 9 FA613065000 Mortgages -8.7 -28.3 -21.0 -14.4 -25.0 -8.9 -9.7 -14.0 -2.1 9

 10 FA613066005 Consumer credit 5.0 -2.4 -13.4 -7.9 9.0 0.3 -34.6 -6.5 -6.9 10

 11 FA613092003 U.S. direct investment abroad 4.6 9.2 33.4 16.9 20.9 3.3 19.3 24.3 -6.0 11

 12 FA613090005 Miscellaneous assets 18.5 -5.6 -12.1 -13.8 -57.7 14.6 -19.9 7.9 -53.9 12

 13 FA614190005 Net increase in liabilities 21.6 -23.1 -98.8 -56.8 -101.4 3.3 -123.5 -5.8 -57.0 13

 14 FA614122005 Debt securities 2.0 -16.0 -67.1 -49.9 -100.3 -50.1 13.0 -62.2 29.4 14

 15 FA613169100 Open market paper -1.1 -3.1 4.6 0.7 -4.7 -4.5 -11.1 23.1 -3.2 15

 16 FA613163005 Corporate bonds 3.0 -12.9 -71.7 -50.6 -95.6 -45.6 24.0 -85.3 32.6 16

 17 FA614123005 Loans 10.2 15.3 0.0 -11.3 -5.9 -5.1 2.1 -36.5 7.6 17

 18 FA613168003 Depository institution loans n.e.c. 10.5 13.7 0.2 -11.3 -5.2 -4.5 1.5 -36.9 7.9 18

 19 FA613169005 Other loans and advances -0.3 1.6 -0.2 -0.1 -0.7 -0.7 0.6 0.4 -0.3 19

 20 FA613178005 Taxes payable 1.0 0.8 0.3 11.8 -0.6 0.2 -3.8 51.4 -2.8 20

 21 FA613192003 Foreign direct investment in U.S. 7.6 -5.5 -1.4 0.9 5.1 -0.8 -0.2 -0.8 -2.4 21

 22 FA613190005 Miscellaneous liabilities 0.8 -17.7 -30.6 -8.2 0.3 59.2 -134.6 42.3 -88.8 22

 23 FA613194003 Investment by parent 1.0 -6.7 -24.0 6.5 -8.4 13.5 -22.4 43.6 -23.8 23

 24 FA613193005 Other -0.1 -11.0 -6.5 -14.8 8.7 45.7 -112.2 -1.3 -65.0 24

 25 FA617005005 Discrepancy -19.2 -8.2 -20.5 -11.7 -9.9 34.8 -17.2 -54.4 21.4 25

 Memo:

 26 FA613066303 Consumer leases not included above (3) 21.6 23.5 13.4 3.7 -1.0 7.1 5.9 2.8 -1.6 26

(1) Includes retail captive finance companies and mortgage companies.

(2) Net capital transfers paid from table F.5, line 56.

(3) See footnote (5), table F.127.
Transactions

44 Z.1, June 7, 2018

F.129 Real Estate Investment Trusts (REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA646000105 Gross saving -25.8 -66.6 -68.8 -47.3 -51.1 -46.6 -55.1 -36.2 -55.9 1

 2 FA645013005 Fixed nonresidential investment 8.2 10.3 11.4 12.3 12.0 12.3 12.3 12.6 13.1 2

 3 FA645012063 Multifamily residential investment 7.8 -0.0 5.5 -1.7 -6.5 2.9 -5.9 2.7 3.4 3

 4 FA644090005 Net acquisition of financial assets 45.3 -65.8 21.2 71.8 29.1 20.9 168.5 68.5 -2.7 4

 5 FA643020005 Checkable deposits and currency 4.3 -2.9 2.0 2.8 19.7 -10.4 27.8 -25.9 -18.1 5

 6 FA644022005 Debt securities 7.7 -44.7 -26.4 52.4 36.8 20.9 109.2 42.6 -27.2 6

 7 FA643061773 Agency- and GSE-backed securities 8.5 -49.6 -27.4 50.5 31.7 21.6 107.7 40.8 -30.3 7

 8 FA643063005 Corporate and foreign bonds -0.9 4.9 1.0 1.9 5.1 -0.7 1.5 1.8 3.1 8

 9 FA643065005 Loans (mortgages) 19.9 -29.4 14.7 5.9 -15.0 5.3 -6.4 39.6 -3.4 9

 10 FA643065105 Home 8.5 2.2 14.3 6.4 6.8 23.9 -2.2 -2.9 -13.6 10

 11 FA643065405 Multifamily residential -3.3 -0.3 -0.2 1.2 1.2 0.5 0.3 2.7 0.2 11

 12 FA643065505 Commercial 14.7 -31.4 0.6 -1.7 -23.0 -19.1 -4.5 39.8 10.1 12

 13 FA643090005 Miscellaneous assets 13.4 11.2 31.0 10.7 -12.4 5.1 37.9 12.2 45.9 13

 14 FA644190005 Net increase in liabilities 117.7 1.1 44.6 119.6 74.0 87.9 197.7 118.6 21.7 14

 15 FA642151073 Security repurchase agreements 10.0 -45.5 -10.6 51.0 24.2 13.3 107.2 59.4 1.3 15

 16 FA644122005 Debt securities 46.9 -7.8 21.8 21.3 19.6 13.0 12.8 39.6 26.5 16

 17 FA643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA643163005 Corporate bonds 46.9 -7.8 21.8 21.3 19.6 13.0 12.8 39.6 26.5 18

 19 FA644123005 Loans 21.3 29.2 -15.3 1.0 -7.0 3.7 -17.4 24.6 -16.5 19

 20 FA643168005 Depository institution loans n.e.c. 7.2 7.3 -9.2 4.7 5.1 5.7 -4.0 12.0 4.7 20

 21 FA643169373 Other loans and advances 4.9 17.9 -7.1 -6.8 -17.4 -1.6 -4.7 -3.5 -1.5 21

 22 FA643165005 Mortgages 9.3 4.0 1.0 3.1 5.3 -0.4 -8.7 16.1 -19.7 22

 23 FA643164103 Corporate equity issues 32.7 27.1 32.4 41.8 46.7 43.3 57.1 20.2 28.4 23

 24 FA643193005 Miscellaneous liabilities 6.9 -1.9 16.3 4.5 -9.6 14.7 38.0 -25.2 -18.1 24

 25 FA647005005 Discrepancy 30.7 -10.0 -62.4 -10.1 -11.8 5.1 -32.3 -1.4 -48.0 25

 Memo:

 26 FA643065045 Securitized assets included above 12.4 -29.6 -8.7 -24.4 -38.7 -31.2 -18.2 -9.5 7.4 26

 27 FA643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FA643065143 Home mortgages 3.2 10.0 2.8 -5.8 -10.1 2.9 -4.3 -11.5 1.3 28

 29 FA643065443 Multifamily residential mortgages 0.3 -0.2 -0.8 1.2 1.6 0.8 0.3 2.2 -0.3 29

 30 FA643065543 Commercial mortgages 8.8 -39.4 -10.7 -19.8 -30.1 -34.9 -14.1 -0.1 6.3 30

(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, June 7, 2018 45

F.129.e Equity Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA644090085 Net acquisition of financial assets 15.7 6.4 15.8 41.2 75.6 4.3 59.1 25.6 -13.6 1

 2 FA643020083 Checkable deposits and currency 3.0 -2.3 2.9 4.7 23.1 -8.9 30.1 -25.5 -16.0 2

 3 FA643063083 Debt securities (corporate and foreign bonds) 0.5 -0.4 0.4 2.0 3.3 0.1 1.8 2.6 1.9 3

 4 FA643065085 Loans (mortgages) 2.6 0.1 -0.1 12.1 15.1 -0.4 1.1 32.7 -9.7 4

 5 FA643065183 Home 0.0 0.0 0.0 0.1 0.0 0.1 0.1 0.1 -0.0 5

 6 FA643065483 Multifamily residential -0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 6

 7 FA643065583 Commercial 2.7 0.0 -0.3 11.9 14.9 -0.7 0.8 32.5 -9.8 7

 8 FA643093085 Miscellaneous assets 9.7 9.0 12.6 22.4 34.0 13.5 26.1 15.9 10.2 8

 9 FA644190085 Net increase in liabilities 49.6 45.3 26.6 49.3 59.4 39.2 47.1 51.5 -7.6 9

 10 FA643163083 Debt securities (corporate bonds) 28.8 30.5 25.1 37.5 53.5 33.1 35.5 27.7 23.4 10

 11 FA644123085 Loans 15.5 11.1 -8.2 6.3 12.4 -1.2 -4.1 18.0 -11.9 11

 12 FA643168083 Depository institution loans n.e.c. 6.2 7.1 -9.3 3.2 7.1 -0.8 4.6 1.9 7.8 12

 13 FA643165005 Mortgages 9.3 4.0 1.0 3.1 5.3 -0.4 -8.7 16.1 -19.7 13

 14 FA643165483 Multifamily residential 1.4 -0.3 2.3 -4.7 -7.8 -4.6 -4.8 -1.7 -3.2 14

 15 FA643165583 Commercial 7.9 4.3 -1.3 7.8 13.1 4.2 -3.9 17.8 -16.5 15

 16 FA643193085 Miscellaneous liabilities 5.3 3.6 9.8 5.6 -6.5 7.4 15.6 5.8 -19.1 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 29.5 -72.2 5.4 30.6 -46.5 16.6 109.4 42.9 10.9 1

 2 FA643020073 Checkable deposits and currency 1.3 -0.6 -0.9 -1.9 -3.4 -1.5 -2.3 -0.5 -2.1 2

 3 FA644022075 Debt securities 7.2 -44.3 -26.8 50.5 33.5 20.8 107.4 40.1 -29.1 3

 4 FA643061773 Agency- and GSE-backed securities 8.5 -49.6 -27.4 50.5 31.7 21.6 107.7 40.8 -30.3 4

 5 FA643063073 Corporate and foreign bonds -1.4 5.4 0.6 -0.0 1.8 -0.8 -0.3 -0.7 1.2 5

 6 FA643065075 Loans (mortgages) 17.3 -29.5 14.8 -6.3 -30.2 5.7 -7.6 6.9 6.3 6

 7 FA643065173 Home 8.5 2.2 14.2 6.3 6.8 23.8 -2.3 -3.0 -13.6 7

 8 FA643065473 Multifamily residential -3.2 -0.4 -0.3 1.0 1.0 0.3 0.1 2.5 -0.0 8

 9 FA643065573 Commercial 12.0 -31.4 0.9 -13.6 -37.9 -18.4 -5.4 7.3 20.0 9

 10 FA643090075 Miscellaneous assets 3.7 2.2 18.4 -11.7 -46.4 -8.4 11.8 -3.6 35.7 10

 11 FA644190075 Net increase in liabilities 35.4 -71.2 -14.4 28.5 -32.1 5.4 93.6 46.9 1.0 11

 12 FA642151073 Security repurchase agreements 10.0 -45.5 -10.6 51.0 24.2 13.3 107.2 59.4 1.3 12

 13 FA644122075 Debt securities 18.1 -38.3 -3.3 -16.2 -33.9 -20.1 -22.7 11.9 3.2 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 18.1 -38.3 -3.3 -16.2 -33.9 -20.1 -22.7 11.9 3.2 15

 16 FA644123075 Loans 5.8 18.1 -7.1 -5.3 -19.4 4.9 -13.3 6.6 -4.5 16

 17 FA643168073 Depository institution loans n.e.c. 1.0 0.2 0.1 1.5 -2.0 6.5 -8.6 10.1 -3.0 17

 18 FA643169373 Other loans and advances 4.9 17.9 -7.1 -6.8 -17.4 -1.6 -4.7 -3.5 -1.5 18

 19 FA643193075 Miscellaneous liabilities 1.5 -5.5 6.5 -1.1 -3.1 7.4 22.4 -31.0 1.0 19

 Memo:

 20 FA643065045 Securitized assets included above 12.4 -29.6 -8.7 -24.4 -38.7 -31.2 -18.2 -9.5 7.4 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 FA643065143 Home mortgages 3.2 10.0 2.8 -5.8 -10.1 2.9 -4.3 -11.5 1.3 22

 23 FA643065443 Multifamily residential mortgages 0.3 -0.2 -0.8 1.2 1.6 0.8 0.3 2.2 -0.3 23

 24 FA643065543 Commercial mortgages 8.8 -39.4 -10.7 -19.8 -30.1 -34.9 -14.1 -0.1 6.3 24
Transactions

46 Z.1, June 7, 2018

F.130 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA666000105 Gross saving less net capital transfers paid (1) 16.0 24.3 18.1 30.3 41.6 39.3 45.7 -5.6 36.6 1

 2 FA665013005 Fixed nonresidential investment 15.6 17.6 18.9 20.0 19.5 19.9 20.2 20.4 21.0 2

 3 FA664090005 Net acquisition of financial assets -153.7 -210.7 -21.6 226.4 358.3 567.3 -377.5 357.6 225.5 3

 4 FA663020003 Checkable deposits and currency 0.0 -5.7 13.1 -7.2 31.0 -26.7 -3.0 -30.3 29.2 4

 5 FA662051003 Security repurchase agreements -168.2 -19.5 -20.6 22.0 -55.1 263.0 -244.4 124.3 -283.0 5

 6 FA664022005 Debt securities -89.2 -36.7 5.0 31.9 120.2 123.4 -184.7 68.5 101.1 6

 7 FA663069103 Open market paper -7.8 -1.4 -5.7 -1.3 -8.2 0.9 -0.8 2.9 4.6 7

 8 FA663061105 Treasury securities -75.9 5.1 32.3 62.8 65.1 123.6 -3.1 65.5 83.8 8

 9 FA663061703 Agency- and GSE-backed securities 7.7 -12.2 -16.6 -9.9 54.9 26.3 -103.7 -17.3 3.7 9

 10 FA663062003 Municipal securities 0.2 -4.9 7.1 -3.9 -5.2 5.9 -15.6 -0.6 5.7 10

 11 FA663063005 Corporate and foreign bonds -13.5 -23.3 -12.1 -15.8 13.6 -33.3 -61.5 17.9 3.4 11

 12 FA663069005 Loans (other loans and advances) 38.5 -90.1 -8.4 45.8 21.3 83.6 34.8 43.4 29.1 12

 13 FA663064103 Corporate equities 8.7 -10.3 -3.6 18.3 -56.5 59.2 14.4 55.8 44.0 13

 14 FA663092003 U.S. direct investment abroad 7.8 11.2 16.4 7.9 10.3 11.4 -1.1 11.0 -3.5 14

 15 FA663090005 Miscellaneous assets 48.7 -59.6 -23.5 107.9 287.0 53.3 6.6 84.8 308.7 15

 16 FA664190005 Net increase in liabilities -169.1 -202.5 -32.7 205.1 326.4 538.5 -415.1 370.6 221.1 16

 17 FA662151003 Security repurchase agreements -220.9 -179.4 -55.2 84.5 187.2 329.3 -363.2 184.7 350.1 17

 18 FA663163003 Debt securities (corporate bonds) 11.5 7.4 -2.2 54.9 2.3 144.4 38.8 34.2 8.9 18

 19 FA664123005 Loans 65.4 -49.3 8.1 -8.0 81.3 12.2 -73.1 -52.4 -84.8 19

 20 FA663168005 Depository institution loans n.e.c. (2) 12.0 -1.0 11.8 17.9 14.0 20.0 24.1 13.5 3.2 20

 21 FA153067005 Other loans and advances 53.5 -48.3 -3.7 -25.9 67.3 -7.8 -97.2 -65.9 -88.0 21

 22 FA663164103 Corporate equity issues -11.7 3.5 -21.5 -12.5 -11.1 -14.7 -5.8 -18.2 -16.0 22

 23 FA663170003 Trade payables 3.4 8.4 10.4 -4.2 -5.6 -12.4 9.6 -8.2 7.9 23

 24 FA663178005 Taxes payable 0.3 -0.8 0.1 13.0 2.5 0.6 2.8 46.0 4.1 24

 25 FA663192005 Foreign direct investment in U.S. 11.1 2.0 -109.4 16.3 7.9 24.3 -12.6 45.6 3.5 25

 26 FA663190005 Miscellaneous liabilities -31.0 -0.1 127.9 65.6 63.3 62.2 -8.7 145.6 -46.0 26

 27 FA663194005 Investment by parent companies 29.6 140.5 190.7 -81.5 -239.4 -193.0 147.0 -40.6 75.6 27

 28 FA663193005 Other -60.6 -140.5 -62.8 147.1 302.7 255.2 -155.7 186.1 -121.7 28

 29 FA662090205 Proprietors’ net investment 2.7 5.8 9.1 -4.6 -1.5 -7.5 -2.9 -6.5 -6.6 29

 30 FA667005005 Discrepancy -15.0 14.9 -12.0 -11.1 -9.8 -9.4 -12.1 -13.0 11.2 30

(1) Net capital transfers paid from table F.5, line 57.

(2) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
Transactions

Z.1, June 7, 2018 47

F.131 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA736000105 Gross saving 171.9 195.5 160.6 215.6 183.9 251.0 251.3 176.1 266.9 1

 2 FA735013005 Fixed nonresidential investment 37.8 38.0 40.2 42.4 41.4 42.3 42.9 43.0 44.3 2

 3 FA734090005 Net acquisition of financial assets 91.2 -72.8 374.4 358.2 422.9 803.8 214.7 -8.5 60.4 3

 4 FA733030003 Time and savings deposits -8.9 -7.9 -2.1 -3.0 -22.5 7.2 -5.1 8.4 -9.3 4

 5 FA732051003 Security repurchase agreements -5.1 -0.4 -0.1 5.1 7.7 29.1 -0.3 -16.2 -4.3 5

 6 FA734022605 Debt securities -0.2 -20.6 3.5 14.9 13.6 67.1 -52.6 31.6 48.6 6

 7 FA733061103 Treasury securities -2.8 -3.7 -0.4 3.5 15.9 27.6 -52.9 23.5 15.1 7

 8 FA733061703 Agency- and GSE-backed securities 0.0 -4.3 1.4 -7.8 0.5 -27.3 -1.6 -3.0 31.3 8

 9 FA733063003 Corporate and foreign bonds 2.6 -12.7 2.5 19.2 -2.8 66.8 1.8 11.1 2.2 9

 10 FA733069005 Loans (other loans and advances) -10.9 -40.9 -1.4 18.0 -4.5 -0.8 42.2 35.2 -7.9 10

 11 FA733040005 Life insurance reserves 5.0 4.1 4.0 4.0 4.0 4.0 4.0 4.0 4.0 11

 12 FA733090005 Miscellaneous assets 111.2 -7.1 370.4 319.3 424.6 697.2 226.6 -71.5 29.3 12

 13 FA763194735 Net trans. with depository institution subs. 195.9 42.1 110.5 91.3 174.7 108.1 179.1 -96.7 -122.1 13

 14 FA513194733 Net trans. with property-casualty ins. co. subs. 0.1 -0.8 -0.2 0.6 -1.4 1.9 0.7 1.1 1.8 14

 15 FA543194733 Net trans. with life insurance company subs. 0.8 0.5 1.3 2.5 1.4 2.6 1.5 4.6 -2.7 15

 16 FA613194733 Net trans. with finance company subs. -14.8 -8.9 -10.9 -6.1 -8.4 -3.0 -12.8 -0.0 -31.3 16

 17 FA663194735 Net trans. with broker and dealer subs. 6.5 92.9 154.3 -53.3 -289.0 -63.6 166.3 -26.8 24.6 17

 18 FA263194735 Net trans. with foreign subs. -14.6 -6.9 0.4 -3.7 5.0 37.7 -34.2 -23.4 91.0 18

 19 FA733093005 Other -62.7 -126.0 115.0 288.0 542.3 613.6 -74.0 69.9 67.9 19

 20 FA734190005 Net increase in liabilities -40.1 -224.6 219.5 113.0 227.7 541.1 -100.2 -216.7 -244.5 20

 21 FA732151003 Security repurchase agreements -0.0 0.1 -0.0 -0.0 -0.1 -0.1 0.1 -0.0 0.5 21

 22 FA734122005 Debt securities -8.3 -88.0 134.2 125.3 143.9 207.8 193.0 -43.8 -52.1 22

 23 FA733169103 Commercial paper -19.6 -71.3 -3.4 2.2 4.3 0.1 3.9 0.6 -5.8 23

 24 FA733163003 Corporate bonds 11.3 -16.7 137.6 123.0 139.6 207.8 189.1 -44.4 -46.3 24

 25 FA733164103 Corporate equity issues -0.3 -6.5 -33.5 -87.8 -50.9 -108.6 -109.8 -81.8 -19.3 25

 26 FA733192003 Foreign direct investment in U.S. (2) 0.0 17.5 141.3 11.2 31.8 16.1 29.6 -32.7 -7.4 26

 27 FA733193005 Miscellaneous liabilities -31.4 -147.7 -22.5 64.3 103.0 425.8 -213.2 -58.4 -166.2 27

 28 FA733164005 Equity, etc. -0.3 -57.7 7.2 -168.8 -49.2 -229.1 -116.8 -279.9 -190.2 28

 29 FA733193015 Other -31.2 -90.1 -29.6 233.1 152.2 655.0 -96.4 221.5 24.0 29

 30 FA737005005 Discrepancy 2.8 5.6 -34.5 -72.1 -52.7 -54.0 -106.6 -75.1 -82.4 30

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.

(2) Foreign direct investment is equity investment in U.S. Intermediate Holding Companies established in accordance with Section 165 of the Dodd-Frank Wall Street Reform and Consumer

 Protection Act.
Transactions

48 Z.1, June 7, 2018

F.132 Funding Corporations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA504090005 Net acquisition of financial assets 44.1 115.5 218.2 68.3 121.8 -365.6 339.2 177.9 457.6 1

 2 FA503034003 Money market fund shares 67.3 -16.4 97.9 78.8 -101.9 22.1 175.8 219.2 220.6 2

 3 FA502051003 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FA504022005 Debt securities -27.5 81.3 86.6 34.3 129.1 -199.4 219.7 -12.0 166.0 4

 5 FA503069105 Open market paper -32.2 82.7 90.6 27.3 109.6 -202.4 224.6 -22.9 144.2 5

 6 FA503063005 Corporate and foreign bonds 4.7 -1.4 -4.1 7.1 19.4 3.0 -5.0 10.9 21.8 6

 7 FA503069805 Loans (other loans and advances) 1.5 0.8 3.0 3.5 3.7 25.1 -6.4 -8.5 -23.9 7

 8 FA503064105 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA503094505 Miscellaneous assets 2.8 49.7 30.7 -48.3 91.0 -213.4 -49.9 -20.9 94.9 9

 10 FA753194503 Investment in foreign banking offices -20.3 2.2 -5.6 -20.1 41.4 -84.0 -30.6 -7.1 43.8 10

 11 FA663194505 Investment in brokers and dealers 23.1 47.6 36.3 -28.2 49.6 -129.4 -19.3 -13.7 51.1 11

 12 FA504190005 Net increase in liabilities 44.1 115.5 218.2 68.3 121.8 -365.6 339.2 177.9 457.6 12

 13 FA504122005 Debt securities 25.8 63.7 37.9 -49.0 31.9 -190.4 -16.6 -21.0 53.7 13

 14 FA503169105 Open market paper 3.6 37.5 2.0 -27.8 0.5 -79.7 -11.5 -20.5 28.9 14

 15 FA503163005 Corporate bonds 22.2 26.3 35.8 -21.3 31.4 -110.7 -5.1 -0.5 24.8 15

 16 FA504123005 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA713068505 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA503169205 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FA503164105 Corporate equities (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA503192003 Foreign direct investment in U.S. 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 20

 21 FA503190005 Miscellaneous liabilities 17.7 51.2 179.8 116.8 89.4 -175.7 355.2 198.3 403.3 21

 22 FA663097005 Securities loaned (net) 47.1 -13.8 -40.5 70.9 194.2 30.1 -49.9 109.0 217.7 22

 23 FA503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA503193005 Other (net) -29.4 64.9 220.3 45.9 -104.8 -205.8 405.0 89.3 185.6 24

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities, and funds associated with

 the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
Transactions

Z.1, June 7, 2018 49

F.133 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA266905005 Foreign income from U.S. 3750.2 3659.7 3660.1 3918.4 3841.2 3885.1 3882.7 4064.8 4194.8 1

 2 FA266903001 U.S. imports 2883.2 2789.0 2735.8 2915.6 2878.4 2882.1 2880.1 3021.6 3109.0 2

 3 FA266904101 U.S. income payments to rest of world 612.6 608.4 647.2 717.9 681.7 712.4 723.9 753.6 795.6 3

 4 FA266400101 Curr. taxes and trans. payments to rest of world 254.4 262.3 277.1 285.0 281.1 290.6 278.8 289.6 290.2 4

 5 FA266900005 Foreign outlays to U.S. 3366.1 3209.1 3199.1 3433.5 3353.9 3371.3 3467.5 3541.2 3625.8 5

 6 FA266903011 U.S. exports 2373.6 2264.9 2214.6 2344.0 2295.6 2314.9 2345.9 2419.6 2468.3 6

 7 FA266904001 U.S. income receipts from rest of world 847.2 812.9 844.3 934.7 895.9 914.8 952.1 975.9 1011.9 7

 8 FA266400201 Curr. taxes and trans. payments from rest of world 145.3 131.3 140.3 154.8 162.4 141.7 169.4 145.7 145.6 8

 9 FA265440005 - Net capital transfers paid (1) -0.4 -0.4 -0.4 -3.6 -0.4 -0.4 -13.2 -0.3 -0.2 9

 10 FA266000105 Gross saving less net capital transfers paid (2) 384.4 451.0 461.4 488.6 487.7 514.1 428.4 523.9 569.2 10

 11 FA265090005 Gross investment 275.5 227.6 331.4 325.8 290.1 706.8 671.3 -365.2 313.9 11

 12 FA265420005 Nonproduced nonfinancial assets -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 -0.1 0.0 12

 13 FA265000005 Net lending (+) or net borrowing (-) 275.6 227.6 331.4 325.8 290.1 706.8 671.3 -365.1 313.9 13

 14 FA264090005 Net acquisition of financial assets 1152.1 550.4 739.9 1445.9 1489.4 1919.2 1840.2 534.5 753.0 14

 15 FA263011205 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA264016005 Net interbank assets -34.5 -59.6 -140.4 99.7 191.8 -54.9 139.9 122.0 -117.3 17

 18 FA263020005 U.S. checkable deposits and currency 82.8 32.6 61.1 79.9 107.4 72.5 85.7 53.8 91.3 18

 19 FA263030005 U.S. time deposits 54.2 -18.6 73.1 17.0 74.3 75.3 -6.8 -74.6 6.0 19

 20 FA263034003 Money market fund shares -0.9 2.3 0.8 4.7 -10.1 -4.9 18.2 15.8 -8.6 20

 21 FA262051003 Security repurchase agreements 105.7 -145.3 66.8 43.6 87.9 63.4 -63.9 87.2 -117.7 21

 22 FA264022005 Debt securities 533.6 406.6 349.1 676.9 383.4 1217.4 1034.2 72.5 474.5 22

 23 FA263069103 Open market paper 7.7 -2.3 37.0 -5.6 -27.6 18.3 -54.0 41.2 78.9 23

 24 FA263061105 Treasury securities 320.2 42.7 -99.3 323.6 270.7 521.1 731.1 -228.3 302.0 24

 25 FA263061110 Treasury bills -13.9 53.1 -52.4 55.4 -36.9 274.2 57.3 -73.0 8.5 25

 26 FA263061120 Other Treasury securities 334.1 -10.4 -47.0 268.2 307.6 246.9 673.8 -155.3 293.5 26

 27 FA263061705 Agency- and GSE-backed securities -8.1 24.8 78.4 22.7 -78.8 78.7 50.1 40.9 129.6 27

 28 FA263062003 Municipal securities 4.3 6.5 7.3 7.2 4.8 12.5 6.6 4.9 -3.9 28

 29 FA263063005 U.S. corporate bonds (4) 209.6 334.9 325.8 328.8 214.3 586.9 300.4 213.7 -32.1 29

 30 FA263069500 Loans to U.S. corporate business 31.0 36.9 -4.3 57.0 48.2 90.8 41.2 47.7 11.8 30

 31 FA263064105 U.S. corporate equities 114.7 -191.3 -194.2 139.6 238.5 -36.2 406.9 -50.7 192.0 31

 32 FA263064203 Mutual fund shares 40.4 1.7 52.4 22.5 4.3 175.0 -101.5 12.1 -12.1 32

 33 FA263070003 Trade receivables 12.6 8.4 7.3 18.1 34.7 1.6 26.9 9.1 19.5 33

 34 FA263092001 Foreign direct investment in U.S. (5) 212.3 476.7 468.3 286.9 329.1 319.1 259.4 239.8 213.7 34

 35 FA264190005 Net increase in liabilities 876.5 322.8 408.4 1120.1 1199.4 1212.4 1169.0 899.6 439.1 35

 36 FA263111005 U.S. official reserve assets -3.6 -6.3 2.1 -1.7 -1.0 0.6 -0.2 -6.2 -5.5 36

 37 FA263191005 U.S. private deposits -119.0 -246.0 -89.9 226.5 255.1 206.3 341.1 103.5 116.0 37

 38 FA262151003 Security repurchase agreements 17.0 76.3 115.3 -32.6 54.6 -26.2 -99.5 -59.0 -63.5 38

 39 FA264122005 Debt securities 162.8 -31.3 23.3 350.5 327.2 137.3 397.9 539.5 490.5 39

 40 FA263169105 Commercial paper 8.9 54.6 -61.7 90.6 74.5 -12.0 229.8 70.3 136.3 40

 41 FA263163005 Bonds 153.9 -85.9 85.0 259.9 252.8 149.3 168.1 469.3 354.2 41

 42 FA264123005 Loans 91.0 58.4 34.9 12.9 -38.3 48.3 44.3 -2.5 36.9 42

 43 FA263168005 Depository institution loans n.e.c. 88.6 58.5 36.9 8.6 -35.8 51.6 38.4 -19.6 23.7 43

 44 FA263169005 Other loans and advances 2.4 -0.1 -2.0 4.3 -2.4 -3.3 5.8 17.1 13.2 44

 45 FA263164103 Foreign corporate equities (6) 431.6 196.9 14.4 193.8 149.6 482.9 278.4 -135.6 316.3 45

 46 FA263170003 Trade payables -5.8 -1.7 0.9 4.4 15.3 -1.5 4.9 -0.9 -23.2 46

 47 FA263192005 U.S. direct investment abroad (4,5) 313.5 281.7 300.5 362.6 433.2 335.1 231.7 450.4 -491.3 47

 48 FA263190005 Miscellaneous liabilities -11.0 -5.2 7.0 3.6 3.7 29.7 -29.5 10.4 62.8 48

 49 FA313092803 U.S. equity in IBRD, etc. 2.3 2.2 2.0 0.8 0.6 0.0 2.5 -0.0 0.0 49

 50 FA263191103 Nonofficial foreign currencies 1.3 -0.5 4.6 6.5 -2.0 -8.0 2.2 33.8 -28.2 50

 51 FA263194735 Investment by holding companies -14.6 -6.9 0.4 -3.7 5.0 37.7 -34.2 -23.4 91.0 51

 52 FA267005005 Discrepancy (FOF basis) 108.9 223.4 129.9 162.8 197.7 -192.7 -242.9 889.1 255.3 52

 Memo:

 53 FA266903005 Net U.S. exports, NIPA basis -509.5 -524.0 -521.2 -571.6 -582.8 -567.2 -534.1 -602.0 -640.7 53

 54 FA266904005 + Net U.S. income receipts (7) 234.5 204.5 197.1 216.8 214.3 202.4 228.3 222.3 216.2 54

 55 FA266400101 - Curr. taxes and trans. payments to rest of world 254.4 262.3 277.1 285.0 281.1 290.6 278.8 289.6 290.2 55

 56 FA266400201 + Curr. taxes and trans. payments from rest of world 145.3 131.3 140.3 154.8 162.4 141.7 169.4 145.7 145.6 56

 57 FA266000005 = Balance on current account, NIPAs -384.0 -450.6 -460.9 -485.0 -487.4 -513.7 -415.2 -523.6 -569.0 57

(1) Table F.5, line 66.

(2) Line 1 minus line 5 minus line 9. Also equal to line 57 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 is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
Transactions

50 Z.1, June 7, 2018

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893111005 Net change in liabilities -3.6 -6.3 2.1 -1.7 -1.0 0.6 -0.2 -6.2 -5.5 1

 2 FA313111303 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA263111005 Rest of the world -3.6 -6.3 2.1 -1.7 -1.0 0.6 -0.2 -6.2 -5.5 3

 4 FA313011303 SDR holdings 0.0 0.0 0.7 0.1 0.0 0.1 0.1 0.1 0.1 4

 5 FA263111403 Reserve position in IMF -3.8 -6.5 1.3 -1.8 -1.0 0.3 -0.4 -6.1 -5.4 5

 6 FA263111503 Other reserves 0.2 0.2 0.1 0.0 0.0 0.2 0.0 -0.1 -0.2 6

 7 FA893011005 Net change in assets -3.6 -6.3 2.1 -1.7 -1.0 0.6 -0.2 -6.2 -5.5 7

 8 FA313011005 Federal government -3.8 -6.4 2.2 -1.7 -1.1 0.5 -0.3 -6.1 -5.4 8

 9 FA313011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA313011303 SDR holdings 0.0 0.0 0.7 0.1 0.0 0.1 0.1 0.1 0.1 10

 11 FA313011405 Reserve position in IMF -3.9 -6.5 1.5 -1.8 -1.1 0.3 -0.4 -6.1 -5.4 11

 12 FA313011505 Other reserves 0.1 0.1 0.0 0.0 0.0 0.1 0.0 -0.1 -0.1 12

 13 FA263011005 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA263011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA713011005 Monetary authority 0.2 0.1 -0.1 0.0 0.1 0.1 0.0 -0.1 -0.1 16

 17 FA713011203 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA713011405 Reserve position in IMF 0.1 0.0 -0.2 0.0 0.1 -0.0 0.0 0.0 0.0 18

 19 FA713011505 Other reserves 0.1 0.1 0.0 0.0 0.0 0.1 0.0 -0.1 -0.1 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 FA713014003 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA713014003 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 FA313112003 Liab: Federal government -0.3 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FA713012003 Asset: Monetary authority 0.8 1.3 1.0 0.8 1.0 0.8 0.8 0.8 0.5 4

 5 FA903012005 Discrepancy (seigniorage) -1.1 -1.3 -1.0 -0.8 -1.0 -0.8 -0.8 -0.8 -0.5 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 -119.0 -246.0 -89.9 226.5 255.1 206.3 341.1 103.5 116.0 1

 Held by:

 2 FA153091003 Household sector -6.4 -14.4 -5.6 10.9 12.3 8.5 17.5 5.2 6.1 2

 3 FA103091003 Nonfinancial corporate business -10.6 -20.1 3.6 106.3 -24.5 74.6 366.4 8.5 11.4 3

 4 FA633091003 Money market funds -9.8 -13.4 -9.2 1.9 6.9 -1.3 9.1 -7.3 -10.0 4

 5 FA903091005 Discrepancy--unallocated assets -92.3 -198.0 -78.7 107.5 260.4 124.5 -51.9 97.0 108.4 5
Transactions

Z.1, June 7, 2018 51

F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA794110005 Net change in liabilities 89.8 -444.3 -349.2 294.8 2267.0 -1192.2 635.2 -530.9 994.5 1

 2 FA714110005 Monetary authority 151.0 -389.0 -209.3 196.0 1592.5 -678.6 360.0 -490.0 632.7 2

 3 FA764110005 U.S.-chartered depository institutions 71.0 -42.2 -89.6 -16.9 409.8 -378.9 105.4 -204.0 76.0 3

 4 FA754110005 Foreign banking offices in U.S. -131.9 -18.7 -49.5 111.5 175.1 -75.4 189.6 156.7 202.0 4

 5 FA744110005 Banks in U.S.-affiliated areas 0.3 0.0 -0.1 0.1 0.2 0.2 -1.6 1.6 0.0 5

 6 FA474110005 Credit unions -0.6 5.6 -0.8 4.1 89.4 -59.5 -18.3 4.8 83.8 6

 7 FA894010005 Net change in assets 116.9 -448.1 -350.5 295.7 1785.1 -733.3 499.8 -368.9 515.8 7

 8 FA714010005 Monetary authority 0.5 0.5 -0.8 -0.0 0.7 0.3 -0.2 -1.0 0.4 8

 9 FA763020005 U.S.-chartered depository institutions 213.0 -199.2 -88.6 48.5 846.3 -517.4 53.4 -188.1 265.0 9

 10 FA753020005 Foreign banking offices in U.S. -59.3 -198.5 -122.6 142.3 644.4 -97.0 311.3 -289.6 267.8 10

 11 FA743013003 Banks in U.S.-affiliated areas 0.9 -0.2 0.8 3.1 3.2 4.2 4.7 0.3 6.5 11

 12 FA473013005 Credit unions -3.7 8.8 1.0 2.1 98.7 -68.3 -9.4 -12.6 93.4 12

 13 FA264016005 Rest of the world -34.5 -59.6 -140.4 99.7 191.8 -54.9 139.9 122.0 -117.3 13

 14 FA904010005 Discrepancy -27.1 3.8 1.3 -0.9 481.9 -458.9 135.4 -161.9 478.7 14

 Memo:

 Vault cash:

 15 FA703025005 Liab.: Monetary authority 2.0 -1.4 1.7 1.2 12.0 1.1 -3.9 -4.4 0.4 15

 16 FA763025000 Asset: U.S.-chartered depository institutions 2.0 -1.4 1.7 1.2 12.0 1.1 -3.9 -4.4 0.5 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 148.9 -387.6 -211.0 194.8 1580.6 -679.7 363.9 -485.6 632.2 18

 19 FA763013005 Asset: U.S.-chartered depository institutions 210.9 -197.8 -90.3 47.3 834.3 -518.5 57.3 -183.7 264.5 19

 20 FA753013003 Foreign banking offices in U.S. -59.3 -198.4 -122.5 142.3 644.4 -97.0 311.3 -289.6 267.8 20

 21 FA743013003 Banks in U.S.-affiliated areas 0.9 -0.2 0.8 3.1 3.2 4.2 4.7 0.3 6.5 21

 22 FA473013005 Credit unions -3.7 8.8 1.0 2.1 98.7 -68.3 -9.4 -12.6 93.4 22

 Other transactions with the monetary authority

 23 FA714010005 Liab: U.S.-chartered depository institutions 0.5 0.5 -0.8 -0.0 0.7 0.3 -0.2 -1.0 0.4 23

 24 FA714010005 Asset: Monetary authority 0.5 0.5 -0.8 -0.0 0.7 0.3 -0.2 -1.0 0.4 24

 25 FA713022003 Federal Reserve float 0.4 0.5 -0.8 -0.1 0.9 -0.3 -0.4 -0.7 0.9 25

 26 FA713068705 Loans 0.1 -0.0 -0.1 0.1 -0.2 0.5 0.2 -0.2 -0.5 26

 Transactions with banks in foreign countries (net):

 27 FA764116205 Liab.: U.S.-chartered depository institutions (net) 93.5 -37.5 -94.8 -21.8 14.3 15.5 -78.3 -38.7 -338.5 27

 28 FA763192605 Due to foreign affiliates 29.2 -26.8 -105.7 31.7 -38.3 192.2 -65.9 38.9 -255.0 28

 29 FA763092605 - Due from foreign affiliates -64.3 10.7 -10.9 53.6 -52.6 176.7 12.4 77.6 83.6 29

 30 FA754116205 Foreign banking offices in U.S. (net) -124.5 -23.7 -58.9 123.8 160.4 -72.2 226.5 180.4 216.0 30

 31 FA753192605 Due to foreign affiliates -123.8 -130.8 -35.4 116.0 198.3 -43.0 192.5 116.4 40.8 31

 32 FA753092605 - Due from foreign affiliates 0.7 -107.1 23.6 -7.7 37.9 29.2 -34.0 -64.1 -175.2 32

 33 FA264116205 Less: Deposits at foreign banks 1.4 -2.7 9.8 -0.6 -5.4 1.4 2.1 -0.3 4.2 33

 34 FA764016205 U.S.-chartered depository institutions 0.8 -2.6 2.8 2.0 4.8 -1.3 0.9 3.5 8.9 34

 35 FA754016205 Foreign banking offices in U.S. 0.7 -0.1 7.0 -2.5 -10.1 2.6 1.1 -3.8 -4.7 35

 36 FA264135125 Loans to foreign banks -0.7 1.2 -16.7 0.9 -0.7 -14.6 6.3 12.6 -4.7 36

 37 FA764035125 U.S.-chartered depository institutions -5.1 1.7 -9.4 -2.9 -10.4 -7.4 -0.1 6.2 -4.6 37

 38 FA754035125 Foreign banking offices in U.S. 4.4 -0.5 -7.3 3.8 9.7 -7.1 6.5 6.4 -0.1 38

 39 FA264035125 Plus: Loans from foreign banks -2.8 0.0 6.4 -1.9 11.1 -11.4 0.1 -7.4 4.6 39

 40 FA274135123 U.S.-chartered depository institutions -2.3 0.8 3.7 0.3 7.2 -5.5 -1.1 0.6 -0.4 40

 41 FA284135125 Foreign banking offices in U.S. -0.5 -0.7 2.7 -2.2 3.8 -5.9 1.2 -8.0 5.0 41

 42 FA264016005 Asset: Rest of the world (1) -34.5 -59.6 -140.4 99.7 191.8 -54.9 139.9 122.0 -117.3 42

 Transactions between U.S. depository institutions (net):

 43 FA764112005 U.S.-chartered depository institutions (net) -25.0 -6.8 -4.3 3.7 381.8 -397.8 185.8 -155.2 418.7 43

 44 FA764112205 Due to (3): -28.3 -6.4 5.2 -6.5 398.8 -396.9 145.9 -173.9 413.7 44

 45 FA754012205 Foreign banking offices in U.S. -1.4 -4.6 3.0 -1.5 6.4 2.7 -9.5 -5.6 18.8 45

 46 FA743020005 Banks in U.S.-affiliated areas -0.3 -0.0 0.1 -0.1 -0.2 -0.2 1.6 -1.6 -0.0 46

 47 FA474012205 Credit unions 0.6 -5.6 0.8 -4.1 -89.4 59.5 18.3 -4.8 -83.8 47

 48 FA754112205 - Due from: Foreign banking offices in U.S. -3.3 0.4 9.5 -10.2 16.9 1.0 -39.9 -18.7 -5.0 48

 49 FA904010005 Unallocated (2) -27.1 3.8 1.3 -0.9 481.9 -458.9 135.4 -161.9 478.7 49

(1) Sum of lines 27 and 30 less line 33 and line 36 plus line 39.

(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 49), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 45, 46, 47, and 49.
Transactions

52 Z.1, June 7, 2018

F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA793120005 Net change in liabilities 343.9 255.4 279.1 104.5 -287.4 500.2 -29.2 234.3 902.6 1

 2 FA713120005 Monetary authority 145.0 167.6 159.2 -61.4 -959.0 390.2 155.4 167.6 426.1 2

 3 FA713123005 Federal government cash and deposits 61.0 110.1 65.6 -170.2 -1046.1 294.2 25.4 45.7 432.9 3

 4 FA713124005 Due to government-sponsored enterprises -12.9 -25.9 10.9 1.3 -19.0 -33.1 18.0 39.3 -93.0 4

 5 FA713122605 Deposits due to foreign -2.7 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.4 -0.0 5

 6 FA713125005 Currency outside banks 99.7 83.4 82.7 107.4 106.1 129.1 112.0 82.2 86.2 6

 7 FA763127005 U.S.-chartered depository institutions 136.2 50.3 113.3 116.2 550.6 70.6 -155.5 -1.0 440.5 7

 8 FA763123005 Federal government deposits 0.9 -0.2 -0.1 -0.3 0.4 -0.3 0.0 -1.4 2.2 8

 9 FA763122605 Deposits due to foreign 5.3 -12.9 15.0 0.0 7.1 -10.1 48.5 -45.3 23.0 9

 10 FA763129205 Private domestic deposits 130.0 63.4 98.4 116.4 543.0 81.0 -204.0 45.7 415.3 10

 11 FA753127005 Foreign banking offices in U.S. 45.2 16.4 -2.9 34.1 76.4 26.1 -11.6 45.5 -27.2 11

 12 FA753122603 Deposits due to foreign 14.0 7.2 3.8 10.0 17.2 19.3 -26.2 29.7 0.4 12

 13 FA753129205 Private domestic deposits 31.2 9.2 -6.6 24.1 59.3 6.8 14.5 15.9 -27.6 13

 14 FA743127003 Banks in U.S.-affiliated areas 5.2 1.6 5.7 0.3 4.6 4.4 -15.3 7.5 5.9 14

 15 FA473127003 Credit unions 12.2 19.5 3.8 15.3 40.0 8.8 -2.2 14.6 57.4 15

 16 FA793120005 Net change in assets 343.9 255.4 279.1 104.5 -287.4 500.2 -29.2 234.3 902.6 16

 17 FA153020005 Household sector 74.8 26.9 -62.0 42.7 505.2 -88.2 -322.5 76.4 300.2 17

 18 FA143020005 Nonfinancial business 124.4 108.6 185.3 144.2 167.7 289.0 7.4 112.6 218.5 18

 19 FA103020005 Corporate 55.1 67.4 160.5 144.1 177.0 287.1 15.3 97.1 201.5 19

 20 FA113020005 Noncorporate 69.3 41.2 24.8 0.1 -9.3 1.9 -7.8 15.5 17.0 20

 21 FA313020005 Federal government 60.8 109.9 65.7 -170.2 -1028.2 343.1 4.3 0.1 449.3 21

 22 FA213020005 State and local governments 14.3 -12.3 -5.3 3.6 14.0 0.5 -30.9 30.9 9.9 22

 23 FA793020005 Domestic financial sectors -13.8 -10.2 33.8 3.5 -33.7 -70.9 204.1 -85.3 -147.9 23

 24 FA513020003 Property-casualty insurance companies 5.9 -2.8 -7.1 3.9 3.4 0.1 39.4 -27.3 7.7 24

 25 FA543020005 Life insurance companies 5.0 8.8 -7.5 16.8 3.6 31.7 0.9 30.8 -11.2 25

 26 FA573020005 Private pension funds 3.3 0.8 1.7 2.2 2.5 0.5 2.1 3.5 1.5 26

 27 FA343020033 Federal government retirement funds 0.3 -0.0 -0.0 0.2 0.2 0.2 0.2 0.2 0.2 27

 28 FA223020043 State and local govt. retirement funds 2.1 3.5 11.4 -6.0 -5.4 -2.2 7.1 -23.6 -6.0 28

 29 FA633020000 Money market funds -17.9 11.9 22.0 -7.5 -54.2 -26.3 113.2 -62.8 -43.0 29

 30 FA403020005 Government-sponsored enterprises -16.6 -24.0 7.8 0.7 -27.7 -35.2 18.9 46.8 -103.3 30

 31 FA613020003 Finance companies -0.2 0.1 -9.6 -2.2 -7.0 -2.6 -2.5 3.4 -5.0 31

 32 FA643020005 REITs 4.3 -2.9 2.0 2.8 19.7 -10.4 27.8 -25.9 -18.1 32

 33 FA663020003 Brokers and dealers 0.0 -5.7 13.1 -7.2 31.0 -26.7 -3.0 -30.3 29.2 33

 34 FA263020005 Rest of the world 82.8 32.6 61.1 79.9 107.4 72.5 85.7 53.8 91.3 34

 35 FA263027003 Checkable deposits 16.6 -5.7 18.7 10.2 24.3 9.2 22.3 -15.2 23.4 35

 36 FA263025003 Currency 66.3 38.4 42.3 69.7 83.1 63.3 63.4 69.0 67.9 36

 37 FA903020005 Mail float 0.6 -0.2 0.5 0.7 -19.7 -45.9 22.6 45.7 -18.7 37
Transactions

Z.1, June 7, 2018 53

F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA703130005 Net change in liabilities 513.2 406.2 517.1 359.9 465.3 253.0 648.9 72.5 455.0 1

 2 FA763130005 U.S.-chartered depository institutions 446.3 484.0 580.8 287.6 123.8 135.0 601.2 290.3 286.9 2

 3 FA753130005 Foreign banking offices in U.S. 33.8 -121.4 -140.6 25.6 285.1 63.3 9.3 -255.0 115.8 3

 4 FA743130003 Banks in U.S.-affiliated areas 4.1 -2.9 2.5 -4.6 -1.6 -3.4 -14.4 1.1 4.4 4

 5 FA473130005 Credit unions 29.0 46.4 74.3 51.3 58.1 58.2 52.9 36.1 47.9 5

 6 FA703130005 Net change in assets 513.2 406.2 517.1 359.9 465.3 253.0 648.9 72.5 455.0 6

 7 FA153030005 Household sector 442.9 481.8 696.5 236.7 295.7 133.7 507.6 10.0 492.3 7

 8 FA143030005 Nonfinancial business -7.0 20.4 67.4 68.1 53.4 78.1 61.2 79.5 61.0 8

 9 FA103030003 Corporate -22.7 -7.7 19.2 4.3 -4.8 13.3 2.2 6.6 1.7 9

 10 FA113030003 Noncorporate 15.7 28.1 48.2 63.7 58.2 64.8 59.0 73.0 59.3 10

 11 FA313030003 Federal government 0.2 0.0 -0.2 0.4 -1.2 0.4 0.6 1.7 -0.1 11

 12 FA213030005 State and local governments 12.8 14.5 6.6 14.5 -32.2 13.4 13.2 63.7 -36.0 12

 13 FA793030005 Domestic financial sectors 10.1 -91.9 -326.3 23.2 75.4 -47.9 73.1 -7.7 -68.2 13

 14 FA573030005 Private pension funds 1.9 -4.5 -1.0 -1.1 -1.7 -0.3 -1.0 -1.4 -0.7 14

 15 FA223030043 State and local govt. retirement funds -0.7 -0.7 0.5 -0.4 -0.3 -0.1 0.4 -1.4 -0.4 15

 16 FA633030000 Money market funds 20.4 -78.4 -298.2 32.6 122.6 -48.2 83.9 -27.8 -47.5 16

 17 FA403030005 Government-sponsored enterprises -2.1 -0.7 3.4 1.7 -1.6 1.4 2.4 4.4 4.8 17

 18 FA613030003 Finance companies -0.5 0.4 -28.9 -6.6 -21.1 -7.8 -7.5 10.0 -15.1 18

 19 FA733030003 Holding companies -8.9 -7.9 -2.1 -3.0 -22.5 7.2 -5.1 8.4 -9.3 19

 20 FA263030005 Rest of the world 54.2 -18.6 73.1 17.0 74.3 75.3 -6.8 -74.6 6.0 20

F.206 Money Market Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA634090005 Net issues 6.8 30.1 -26.6 119.2 6.0 62.0 264.7 144.0 50.9 1

 2 FA634090005 Net purchases 6.8 30.1 -26.6 119.2 6.0 62.0 264.7 144.0 50.9 2

 3 FA153034005 Household sector -87.1 11.4 -21.0 30.4 208.1 75.7 -22.0 -140.2 -192.0 3

 4 FA103034003 Nonfinancial corporate business 21.9 18.6 -112.9 -6.5 -97.2 -31.8 57.3 46.0 37.9 4

 5 FA113034003 Nonfinancial noncorporate business 2.9 6.0 5.8 5.4 3.8 5.2 4.0 8.4 5.1 5

 6 FA213034003 State and local governments 2.1 6.3 9.3 8.3 5.3 -4.3 11.0 21.0 4.3 6

 7 FA513034003 Property-casualty insurance companies -1.8 3.2 -6.7 4.1 2.3 2.2 4.8 7.0 4.6 7

 8 FA543034005 Life insurance companies 3.9 2.6 -12.8 3.6 6.5 3.3 7.0 -2.2 -13.6 8

 9 FA573034005 Private pension funds 0.9 -4.6 0.2 -1.5 -3.0 -1.9 -0.4 -0.7 0.3 9

 10 FA223034005 State and local govt. retirement funds -2.4 0.7 12.7 -8.1 -7.7 -3.6 9.0 -30.4 -7.6 10

 11 FA503034003 Funding corporations 67.3 -16.4 97.9 78.8 -101.9 22.1 175.8 219.2 220.6 11

 12 FA263034003 Rest of the world -0.9 2.3 0.8 4.7 -10.1 -4.9 18.2 15.8 -8.6 12
Transactions

54 Z.1, June 7, 2018

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA892150005 Net change in liabilities 26.0 49.8 94.1 37.6 -219.5 677.0 -582.1 275.0 -1073.0 1

 2 FA712151003 Monetary authority 193.9 202.6 12.8 -161.3 -499.7 198.8 -372.8 28.7 -1162.3 2

 3 FA762150005 U.S.-chartered depository institutions -33.2 -39.4 -34.2 7.9 -16.2 17.6 16.0 14.2 -54.1 3

 4 FA762152005 Federal funds (2) -19.7 0.8 -6.5 13.2 -8.3 11.8 30.0 19.2 -8.0 4

 5 FA762151005 Security repurchase agreements -13.5 -40.1 -27.8 -5.3 -7.9 5.9 -14.0 -5.0 -46.1 5

 6 FA752150005 Foreign banking offices in U.S. 58.5 35.3 66.7 88.3 30.3 142.0 132.2 48.6 -135.8 6

 7 FA752152005 Federal funds (2) 8.3 -0.3 6.9 3.3 54.2 0.1 58.9 -100.0 40.0 7

 8 FA752151005 Security repurchase agreements 50.2 35.6 59.8 85.0 -23.8 141.8 73.4 148.6 -175.8 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 -0.4 0.4 -1.0 -0.0 -0.0 -0.1 0.1 -0.1 -0.2 10

 11 FA542151073 Life insurance companies 1.0 -0.5 0.2 -0.3 0.2 2.4 -2.3 -1.3 -8.9 11

 12 FA402150005 Government-sponsored enterprises 0.1 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA642151073 REITs 10.0 -45.5 -10.6 51.0 24.2 13.3 107.2 59.4 1.3 13

 14 FA662151003 Brokers and dealers -220.9 -179.4 -55.2 84.5 187.2 329.3 -363.2 184.7 350.1 14

 15 FA732151003 Holding companies -0.0 0.1 -0.0 -0.0 -0.1 -0.1 0.1 -0.0 0.5 15

 16 FA262151003 Rest of the world 17.0 76.3 115.3 -32.6 54.6 -26.2 -99.5 -59.0 -63.5 16

 17 FA892050005 Net change in assets 157.9 -68.6 172.0 312.0 275.4 791.9 -406.9 587.6 -776.3 17

 18 FA102051003 Nonfinancial corporate business 39.5 14.0 29.5 -25.6 -39.8 -40.2 -53.9 31.5 -20.9 18

 19 FA212051003 State and local governments 2.2 5.5 7.4 6.6 4.3 -3.4 8.8 16.9 3.4 19

 20 FA712051000 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA762050005 U.S.-chartered depository institutions -30.4 24.8 8.7 4.0 -114.0 138.0 -145.4 137.3 74.0 21

 22 FA762052005 Federal funds (2) -16.4 -11.2 1.9 3.2 14.6 -33.3 33.7 -2.2 1.2 22

 23 FA762051005 Security repurchase agreements -14.0 36.0 6.8 0.8 -128.5 171.3 -179.1 139.5 72.7 23

 24 FA752050005 Foreign banking offices in U.S. 41.1 0.4 -25.4 76.6 16.2 59.2 113.3 117.6 -25.0 24

 25 FA752052005 Federal funds (2) -0.0 -0.4 -0.2 0.3 -0.7 1.6 -1.4 1.5 0.3 25

 26 FA752051005 Security repurchase agreements 41.1 0.8 -25.2 76.3 16.9 57.6 114.7 116.1 -25.3 26

 27 FA472050053 Credit unions -0.0 0.0 0.0 0.1 0.0 0.2 0.2 -0.0 0.4 27

 28 FA472052053 Federal funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA472051053 Security repurchase agreements -0.0 0.0 0.0 0.1 0.0 0.2 0.2 -0.0 0.4 29

 30 FA512051003 Property-casualty insurance companies 0.1 0.0 -0.4 0.0 -0.1 -0.1 0.1 0.2 -0.8 30

 31 FA542051073 Life insurance companies 0.0 -0.5 -0.3 -0.4 0.0 -0.5 -0.3 -1.0 -0.8 31

 32 FA572051005 Private pension funds 0.2 -0.4 -0.1 -0.1 -0.2 -0.0 -0.1 -0.2 -0.1 32

 33 FA222051043 State and local govt. retirement funds -0.1 0.1 1.2 -0.6 -0.5 -0.2 0.7 -2.4 -0.6 33

 34 FA632051000 Money market funds 152.9 44.8 100.9 156.2 240.6 312.7 -50.6 122.0 -472.8 34

 35 FA652051003 Mutual funds 9.9 -12.4 2.3 14.0 37.6 -7.6 26.0 -0.1 -20.8 35

 36 FA402050005 Government-sponsored enterprises 10.3 20.2 2.1 10.6 90.8 -21.6 2.8 -29.7 92.6 36

 37 FA402052033 Of which: FHLB federal funds (3) 23.3 -10.4 6.3 16.9 119.1 -15.2 60.1 -96.5 111.2 37

 38 FA662051003 Brokers and dealers -168.2 -19.5 -20.6 22.0 -55.1 263.0 -244.4 124.3 -283.0 38

 39 FA732051003 Holding companies -5.1 -0.4 -0.1 5.1 7.7 29.1 -0.3 -16.2 -4.3 39

 40 FA502051003 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 FA262051003 Rest of the world 105.7 -145.3 66.8 43.6 87.9 63.4 -63.9 87.2 -117.7 41

 42 FA902050005 Discrepancy -131.9 118.4 -78.0 -274.4 -494.9 -114.9 -175.2 -312.5 -296.7 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations:

 43 FA712151103 Liability: Monetary authority (4) 199.0 77.9 -6.2 -148.8 -486.0 208.1 -331.1 14.0 -1148.9 43

 44 FA632051103 Asset: Money market funds (5) 207.9 52.8 -20.6 -115.3 -298.5 136.1 -257.3 -41.4 -1062.1 44

 45 FA792051115 Other financial institutions (6) -9.0 25.1 14.3 -33.5 -187.5 72.0 -73.8 55.4 -86.9 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, June 7, 2018 55

F.208 Debt Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 By instrument

 1 FA894122005 Net issues 1327.9 1223.3 1546.5 1494.3 489.6 1463.2 2945.8 1078.6 3226.1 1

 2 FA893169175 Open market paper -21.2 11.1 -56.6 81.1 41.7 -52.1 268.1 66.6 152.8 2

 3 FA313161105 Treasury securities 736.0 724.4 842.8 447.0 -412.7 577.1 1655.8 -32.0 2517.6 3

 4 FA893161705 Agency- and GSE-backed securities 150.2 220.6 351.6 346.6 245.7 388.0 327.3 425.5 73.2 4

 5 FA383162005 Municipal securities -46.6 14.0 42.5 10.6 -107.1 -9.7 -30.4 189.6 -139.8 5

 6 FA893163005 Corporate and foreign bonds 509.6 253.1 366.2 609.0 721.9 559.9 725.0 429.0 622.4 6

 By sector

 7 FA894122005 Net issues 1327.9 1223.3 1546.5 1494.3 489.6 1463.2 2945.8 1078.6 3226.1 7

 8 FA384122005 Domestic nonfinancial sectors 1012.2 1135.2 1165.1 747.6 -71.1 821.5 2031.6 208.5 2655.7 8

 9 FA163162003 Nonprofit organizations (2) -6.9 -8.1 -3.4 1.6 -0.5 12.6 -12.3 6.5 7.3 9

 10 FA104122005 Nonfinancial corporate business 322.2 409.8 295.1 303.1 446.7 268.8 393.5 103.6 260.9 10

 11 FA314122005 Federal government 735.9 724.6 842.7 447.0 -413.7 577.7 1655.7 -31.9 2518.6 11

 12 FA213162005 State and local governments -39.0 8.9 30.7 -4.1 -103.7 -37.7 -5.3 130.3 -131.1 12

 13 FA794122005 Domestic financial sectors 152.8 119.4 358.1 396.2 233.5 504.4 516.3 330.6 79.8 13

 14 FA764122005 U.S.-chartered depository institutions -17.2 -9.3 -21.4 -13.0 -12.1 -18.2 11.2 -32.9 -5.4 14

 15 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 15

 16 FA403161705 Government-sponsored enterprises 75.3 93.5 194.2 153.1 28.2 198.4 153.1 232.7 -122.4 16

 17 FA413065005 Agency- and GSE-backed mortgage pools 75.0 126.9 157.5 193.6 218.5 188.9 174.3 192.7 194.5 17

 18 FA674122005 ABS issuers -58.0 -51.1 -96.7 -40.0 -98.5 10.6 -63.3 -8.8 -53.2 18

 19 FA614122005 Finance companies 2.0 -16.0 -67.1 -49.9 -100.3 -50.1 13.0 -62.2 29.4 19

 20 FA644122005 REITs 46.9 -7.8 21.8 21.3 19.6 13.0 12.8 39.6 26.5 20

 21 FA663163003 Brokers and dealers 11.5 7.4 -2.2 54.9 2.3 144.4 38.8 34.2 8.9 21

 22 FA734122005 Holding companies -8.3 -88.0 134.2 125.3 143.9 207.8 193.0 -43.8 -52.1 22

 23 FA504122005 Funding corporations 25.8 63.7 37.9 -49.0 31.9 -190.4 -16.6 -21.0 53.7 23

 24 FA264122005 Rest of the world 162.8 -31.3 23.3 350.5 327.2 137.3 397.9 539.5 490.5 24

 25 FA894122005 Net purchases 1327.9 1223.3 1546.5 1494.3 489.6 1463.2 2945.8 1078.6 3226.1 25

 26 FA384022005 Domestic nonfinancial sectors -137.3 222.8 24.4 -16.0 -626.6 156.5 -82.7 488.9 463.1 26

 27 FA154022005 Household sector -164.0 233.0 -58.7 -109.8 -685.8 156.9 -175.1 264.5 411.9 27

 28 FA104022005 Nonfinancial corporate business 39.7 -4.1 -9.2 34.0 39.1 60.1 1.8 34.9 35.9 28

 29 FA114022005 Nonfinancial noncorporate business 1.7 4.3 4.2 3.8 2.7 3.7 2.9 6.0 3.7 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 -14.7 -10.5 88.2 56.1 17.4 -64.2 87.7 183.4 11.6 31

 32 FA794022005 Domestic financial sectors 931.6 593.9 1173.0 833.4 732.9 89.2 1994.3 517.2 2288.5 32

 33 FA714022005 Monetary authority 480.7 5.1 -20.8 2.3 102.6 -13.5 -12.5 -67.2 -159.3 33

 34 FA764022005 U.S.-chartered depository institutions 241.5 214.4 276.4 110.4 243.8 -48.2 171.9 74.1 -30.4 34

 35 FA754022005 Foreign banking offices in U.S. -14.5 -9.0 10.7 27.3 -39.2 15.4 -40.8 173.8 -41.2 35

 36 FA744022003 Banks in U.S.-affiliated areas -1.2 0.8 1.2 1.7 3.6 0.9 -3.1 5.6 4.5 36

 37 FA474022005 Credit unions -9.0 -2.8 -17.3 10.4 61.1 -9.2 -11.3 0.9 -8.0 37

 38 FA514022005 Property-casualty insurance companies 13.7 20.4 41.7 31.5 -17.4 25.2 32.0 86.3 0.1 38

 39 FA544022005 Life insurance companies 79.1 84.9 141.8 76.9 117.4 43.6 86.0 60.5 138.5 39

 40 FA574022005 Private pension funds 95.5 -14.1 49.1 60.0 72.0 15.0 57.7 95.2 42.0 40

 41 FA344022005 Federal government retirement funds 86.7 93.1 100.9 -84.1 -443.8 -364.4 1032.1 -560.3 805.0 41

 42 FA224022045 State and local govt. retirement funds 56.1 -0.6 27.0 87.8 75.4 83.5 71.5 120.8 87.8 42

 43 FA634022005 Money market funds -124.2 72.2 164.3 -63.6 -226.7 -147.8 103.9 16.2 698.4 43

 44 FA654022005 Mutual funds 93.1 116.7 246.6 374.1 396.5 407.5 372.0 320.5 378.7 44

 45 FA554022005 Closed-end funds 0.6 0.5 1.5 1.1 2.4 0.9 -0.2 1.3 -0.0 45

 46 FA564022005 Exchange-traded funds 51.6 55.3 83.9 121.9 140.0 132.8 128.3 86.4 63.8 46

 47 FA404022005 Government-sponsored enterprises -18.9 -25.3 -4.2 -38.9 -23.5 -37.0 -66.5 -28.5 15.0 47

 48 FA674022005 ABS issuers 5.5 0.9 -8.3 -8.3 -18.2 -15.1 -3.3 3.3 5.4 48

 49 FA613063003 Finance companies 4.6 2.2 9.9 -10.6 -13.0 -12.3 -15.0 -2.3 -0.3 49

 50 FA644022005 REITs 7.7 -44.7 -26.4 52.4 36.8 20.9 109.2 42.6 -27.2 50

 51 FA664022005 Brokers and dealers -89.2 -36.7 5.0 31.9 120.2 123.4 -184.7 68.5 101.1 51

 52 FA734022605 Holding companies -0.2 -20.6 3.5 14.9 13.6 67.1 -52.6 31.6 48.6 52

 53 FA504022005 Funding corporations -27.5 81.3 86.6 34.3 129.1 -199.4 219.7 -12.0 166.0 53

 54 FA264022005 Rest of the world 533.6 406.6 349.1 676.9 383.4 1217.4 1034.2 72.5 474.5 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, June 7, 2018

F.209 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893169175 Net issues -21.2 11.1 -56.6 81.1 41.7 -52.1 268.1 66.6 152.8 1

 2 FA893169105 Commercial paper -21.2 11.1 -56.6 81.1 41.7 -52.1 268.1 66.6 152.8 2

 3 FA103169100 Nonfinancial corporate business 37.5 -3.0 1.8 25.9 11.4 32.5 68.8 -9.2 3.5 3

 4 FA263169105 Foreign issues in U.S. 8.9 54.6 -61.7 90.6 74.5 -12.0 229.8 70.3 136.3 4

 5 FA263169110 Nonfinancial -6.4 -1.1 0.5 0.5 -46.2 -42.7 58.0 33.0 -20.1 5

 6 FA263169123 Financial 15.3 55.7 -62.2 90.1 120.6 30.7 171.8 37.3 156.4 6

 7 FA793169100 Domestic financial sectors -67.7 -40.5 3.3 -35.5 -44.1 -72.6 -30.6 5.5 13.0 7

 8 FA763169103 U.S.-chartered depository institutions -5.2 -0.9 -4.5 0.7 1.5 -2.9 6.7 -2.7 -3.0 8

 9 FA673169105 ABS issuers -45.5 -2.7 4.7 -11.3 -45.8 14.4 -18.7 5.0 -3.9 9

 10 FA613169100 Finance companies -1.1 -3.1 4.6 0.7 -4.7 -4.5 -11.1 23.1 -3.2 10

 11 FA643169173 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA733169103 Holding companies -19.6 -71.3 -3.4 2.2 4.3 0.1 3.9 0.6 -5.8 12

 13 FA503169105 Funding corporations 3.6 37.5 2.0 -27.8 0.5 -79.7 -11.5 -20.5 28.9 13

 14 FA703169605 Bankers’ acceptances (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA763169603 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 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 16

 17 FA893169175 Net purchases -21.2 11.1 -56.6 81.1 41.7 -52.1 268.1 66.6 152.8 17

 18 FA103069100 Nonfinancial corporate business 35.8 0.6 -11.8 24.5 22.0 51.8 -6.1 30.3 39.9 18

 19 FA213069103 State and local governments -9.3 -4.9 0.2 2.8 1.8 -1.5 3.7 7.2 1.5 19

 20 FA713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA763069175 U.S.-chartered depository institutions (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 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 22

 23 FA473069153 Credit unions 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.6 23

 24 FA513069103 Property-casualty insurance companies -0.1 0.9 10.7 -8.6 -12.1 -10.3 -7.0 -5.0 -6.7 24

 25 FA543069105 Life insurance companies -8.1 -7.5 1.9 -8.7 5.9 -2.1 -16.3 -22.5 0.8 25

 26 FA573069105 Private pension funds 2.0 -4.9 -1.0 -1.1 -1.7 -0.3 -1.0 -1.3 -0.6 26

 27 FA223069143 State and local govt. retirement funds -1.4 0.6 13.7 -7.0 -6.3 -2.6 8.2 -27.5 -7.0 27

 28 FA633069175 Money market funds -19.2 -39.8 -195.0 44.4 -59.0 101.4 80.5 54.6 -68.8 28

 29 FA653069100 Mutual funds 9.9 -12.4 2.3 14.0 19.3 -7.4 35.8 8.2 -37.7 29

 30 FA403069105 Government-sponsored enterprises 1.5 -0.5 0.5 0.5 -2.0 2.1 0.2 1.5 3.0 30

 31 FA663069103 Brokers and dealers -7.8 -1.4 -5.7 -1.3 -8.2 0.9 -0.8 2.9 4.6 31

 32 FA503069105 Funding corporations -32.2 82.7 90.6 27.3 109.6 -202.4 224.6 -22.9 144.2 32

 33 FA263069103 Rest of the world 7.7 -2.3 37.0 -5.6 -27.6 18.3 -54.0 41.2 78.9 33

(1) Excludes banks’ holdings of own acceptances.
Transactions

Z.1, June 7, 2018 57

F.210 Treasury Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA313161105 Net issues 736.0 724.4 842.8 447.0 -412.7 577.1 1655.8 -32.0 2517.6 1

 2 FA313161205 Marketable Treasury securities 646.7 688.1 711.2 554.4 51.9 999.9 678.2 487.5 1748.7 2

 3 FA313161110 Treasury bills -133.9 54.3 304.6 136.9 -535.7 623.7 238.0 221.5 1055.9 3

 4 FA313161275 Other Treasury notes, bonds, and TIPS 781.9 632.4 408.6 419.1 587.5 382.5 440.2 266.0 692.8 4

 5 FA313161283 Held in the Civil Service Retirement Fund (2) -1.4 1.4 -2.0 -1.6 0.0 -6.3 0.0 0.0 0.0 5

 6 FA313161305 Nonmarketable Treasury securities 89.4 36.3 131.5 -107.3 -464.6 -422.8 977.6 -519.5 768.8 6

 7 FA313161400 U.S. savings securities -3.3 -4.3 -5.8 -5.4 -6.2 -5.8 -4.6 -5.0 -5.7 7

 8 FA213061120 State and local government series (SLGS) -4.1 -41.3 34.6 -17.3 -20.3 -73.9 -10.0 34.9 -38.7 8

 9 FA343061123 Thrift Savings Plan G Fund 18.6 15.7 15.4 -153.6 -422.7 -129.2 534.4 -596.7 631.0 9

 10 FA343061145 Federal govt. defined benefit pension plans 70.2 74.3 85.8 70.0 -22.0 -230.1 495.5 36.9 175.2 10

 11 FA313161375 Other nonmarketable securities 8.0 -8.0 1.6 -1.1 6.6 16.2 -37.7 10.5 7.0 11

 12 FA893061105 Net purchases 736.0 724.4 842.8 447.0 -412.7 577.1 1655.8 -32.0 2517.6 12

 13 FA153061105 Household sector -257.7 299.7 149.2 -44.4 -329.0 671.5 -636.7 116.6 536.4 13

 14 FA313161400 U.S. savings securities (line 7) -3.3 -4.3 -5.8 -5.4 -6.2 -5.8 -4.6 -5.0 -5.7 14

 15 FA153061185 Other Treasury securities -254.5 304.0 155.0 -39.0 -322.8 677.3 -632.1 121.6 542.1 15

 16 FA103061103 Nonfinancial corporate business 2.9 -4.3 3.9 -0.3 -5.3 3.0 -1.7 2.9 0.7 16

 17 FA113061003 Nonfinancial noncorporate business 2.0 4.0 3.9 3.6 2.5 3.5 2.7 5.6 3.4 17

 18 FA213061105 State and local governments 23.0 26.0 62.2 9.0 -3.3 -87.6 25.0 101.8 -25.1 18

 19 FA213061120 SLGS (line 8) -4.1 -41.3 34.6 -17.3 -20.3 -73.9 -10.0 34.9 -38.7 19

 20 FA213061103 Other Treasury securities 27.1 67.3 27.5 26.3 17.0 -13.6 35.0 67.0 13.7 20

 21 FA713061103 Monetary authority 252.6 0.2 2.1 -9.4 3.1 2.8 1.4 -44.8 -117.0 21

 22 FA713061113 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA713061125 Other Treasury securities 252.6 0.2 2.1 -9.4 3.1 2.8 1.4 -44.8 -117.0 23

 24 FA763061100 U.S.-chartered depository institutions 203.3 14.8 96.0 -43.2 3.9 -136.6 -3.7 -36.6 22.3 24

 25 FA753061103 Foreign banking offices in U.S. -10.5 13.3 24.2 5.5 -22.5 11.7 -28.3 61.0 -1.1 25

 26 FA743061103 Banks in U.S.-affiliated areas 0.2 1.1 0.8 1.9 3.0 1.4 -1.6 4.7 4.7 26

 27 FA473061105 Credit unions 2.5 7.6 -15.6 15.6 58.3 -0.2 -0.5 4.9 9.0 27

 28 FA513061103 Property-casualty insurance companies 6.3 -1.5 10.7 32.8 18.9 25.6 36.1 50.7 -31.0 28

 29 FA513061113 Treasury bills 3.4 -4.0 8.1 25.5 16.5 18.4 27.6 39.7 -34.5 29

 30 FA513061125 Other Treasury securities 2.9 2.5 2.6 7.3 2.4 7.2 8.5 11.0 3.4 30

 31 FA543061105 Life insurance companies 14.0 6.9 20.4 0.0 -0.9 -2.6 -2.2 5.7 4.2 31

 32 FA543061113 Treasury bills 1.6 -2.5 6.0 -0.4 2.5 -0.6 0.8 -4.2 -4.9 32

 33 FA543061125 Other Treasury securities 12.4 9.4 14.4 0.4 -3.4 -2.0 -3.0 9.9 9.2 33

 34 FA573061105 Private pension funds 14.2 -12.6 10.3 13.6 13.9 2.9 13.4 24.2 10.3 34

 35 FA573061143 Defined benefit plans 6.3 -6.9 -0.4 -0.4 -0.7 -0.1 -0.4 -0.6 -0.3 35

 36 FA573061133 Defined contribution plans 7.9 -5.6 10.7 14.1 14.6 3.1 13.8 24.8 10.6 36

 37 FA343061105 Federal government retirement funds (3) 87.3 91.6 99.8 -84.7 -444.4 -365.1 1030.9 -560.1 805.7 37

 38 FA343061165 Defined benefit plans 68.8 75.4 83.8 68.5 -21.9 -236.3 495.2 37.0 175.2 38

 39 FA343061155 Defined contribution plans 18.5 16.2 16.0 -153.2 -422.5 -128.8 535.7 -597.1 630.5 39

 40 FA223061143 State and local govt. retirement funds 14.7 -23.8 18.7 38.0 27.2 52.3 5.8 66.7 38.0 40

 41 FA633061105 Money market funds -77.1 63.9 313.3 -94.1 -250.4 -184.9 31.7 27.4 675.2 41

 42 FA633061110 Treasury bills -49.6 -8.6 178.9 46.6 -214.5 101.7 165.4 133.7 766.3 42

 43 FA633061120 Other Treasury securities -27.5 72.4 134.5 -140.6 -35.9 -286.6 -133.7 -106.3 -91.1 43

 44 FA653061105 Mutual funds 193.3 155.3 91.6 195.1 119.3 -86.5 497.5 249.9 114.9 44

 45 FA653061113 Treasury bills -10.2 11.7 13.7 21.4 -13.5 -44.5 90.0 53.5 22.7 45

 46 FA653061125 Other Treasury securities 203.5 143.6 77.9 173.7 132.8 -42.0 407.5 196.4 92.2 46

 47 FA553061103 Closed-end funds -0.2 -0.5 -2.2 0.0 0.2 -0.0 0.1 -0.1 -0.1 47

 48 FA563061103 Exchange-traded funds 13.2 14.3 14.3 27.5 36.9 22.7 36.4 14.0 40.9 48

 49 FA403061105 Government-sponsored enterprises 5.2 23.2 14.9 -1.1 22.1 -13.8 -22.1 9.3 20.0 49

 50 FA673061103 ABS issuers 5.5 1.0 -8.3 -8.3 -18.2 -15.1 -3.3 3.3 5.4 50

 51 FA663061105 Brokers and dealers -75.9 5.1 32.3 62.8 65.1 123.6 -3.1 65.5 83.8 51

 52 FA733061103 Holding companies -2.8 -3.7 -0.4 3.5 15.9 27.6 -52.9 23.5 15.1 52

 53 FA263061105 Rest of the world 320.2 42.7 -99.3 323.6 270.7 521.1 731.1 -228.3 302.0 53

 54 FA263061110 Treasury bills -13.9 53.1 -52.4 55.4 -36.9 274.2 57.3 -73.0 8.5 54

 55 FA263061120 Other Treasury securities 334.1 -10.4 -47.0 268.2 307.6 246.9 673.8 -155.3 293.5 55

(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, June 7, 2018

F.211 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893161705 Net issues 150.2 220.6 351.6 346.6 245.7 388.0 327.3 425.5 73.2 1

 2 FA313161705 Budget agencies -0.1 0.2 -0.1 -0.1 -0.9 0.7 -0.1 0.1 1.1 2

 3 FA403161705 Government-sponsored enterprises 75.3 93.5 194.2 153.1 28.2 198.4 153.1 232.7 -122.4 3

 4 FA413065005 Agency- and GSE-backed mortgage pools 75.0 126.9 157.5 193.6 218.5 188.9 174.3 192.7 194.5 4

 5 FA893061705 Net purchases 150.2 220.6 351.6 346.6 245.7 388.0 327.3 425.5 73.2 5

 6 FA153061705 Household sector 81.0 196.3 -74.0 56.7 -48.2 -277.1 377.0 175.2 -214.0 6

 7 FA103061703 Nonfinancial corporate business 1.0 -1.4 1.3 -0.1 -1.8 1.0 -0.6 1.0 0.2 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 -28.2 -35.9 15.7 35.2 13.1 29.5 46.9 51.5 30.5 9

 10 FA713061705 Monetary authority 228.1 4.9 -22.8 11.7 99.5 -16.3 -13.8 -22.4 -42.2 10

 11 FA763061705 U.S.-chartered depository institutions 43.0 164.4 136.7 148.6 147.0 145.0 175.9 126.6 15.0 11

 12 FA753061703 Foreign banking offices in U.S. -4.9 2.6 -2.0 22.5 3.0 4.3 -6.4 89.0 -8.4 12

 13 FA743061703 Banks in U.S.-affiliated areas -0.1 0.1 -0.3 -0.0 0.0 -0.6 0.2 0.3 0.9 13

 14 FA473061705 Credit unions -11.7 -11.9 -3.2 -4.4 2.2 -8.8 -7.1 -4.0 -17.3 14

 15 FA513061703 Property-casualty insurance companies 0.1 -6.5 4.0 5.4 -0.6 5.5 5.2 11.5 4.6 15

 16 FA543061705 Life insurance companies -13.2 -2.7 11.2 8.6 10.7 5.5 11.3 7.0 16.6 16

 17 FA573061705 Private pension funds 9.2 -0.7 3.7 4.4 5.4 1.1 4.2 6.9 3.1 17

 18 FA343061705 Federal government retirement funds -0.5 0.2 0.4 0.3 0.2 0.3 1.0 -0.2 -0.5 18

 19 FA223061743 State and local govt. retirement funds 7.6 -11.7 14.3 22.3 15.7 30.9 2.3 40.1 22.3 19

 20 FA633061700 Money market funds 23.3 76.9 210.4 4.7 80.0 -46.5 15.6 -30.3 71.9 20

 21 FA653061703 Mutual funds -200.4 -98.2 14.5 -4.9 -69.3 423.7 -314.3 -59.6 62.2 21

 22 FA403061705 Government-sponsored enterprises 7.8 -14.3 5.9 -20.0 -19.7 -8.9 -22.7 -28.5 -5.9 22

 23 FA673061703 ABS issuers 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA643061773 REITs 8.5 -49.6 -27.4 50.5 31.7 21.6 107.7 40.8 -30.3 24

 25 FA663061703 Brokers and dealers 7.7 -12.2 -16.6 -9.9 54.9 26.3 -103.7 -17.3 3.7 25

 26 FA733061703 Holding companies 0.0 -4.3 1.4 -7.8 0.5 -27.3 -1.6 -3.0 31.3 26

 27 FA263061705 Rest of the world -8.1 24.8 78.4 22.7 -78.8 78.7 50.1 40.9 129.6 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.106, line 44.
Transactions

Z.1, June 7, 2018 59

F.212 Municipal Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA383162005 Net issues -46.6 14.0 42.5 10.6 -107.1 -9.7 -30.4 189.6 -139.8 1

 2 FA213162005 State and local governments -39.0 8.9 30.7 -4.1 -103.7 -37.7 -5.3 130.3 -131.1 2

 3 FA213162400 Short-term (1) -6.4 -5.9 -2.8 4.8 0.2 3.0 15.1 1.0 5.4 3

 4 FA213162200 Long-term -32.6 14.8 33.5 -8.9 -103.9 -40.7 -20.4 129.3 -136.5 4

 5 FA163162003 Nonprofit organizations (2) -6.9 -8.1 -3.4 1.6 -0.5 12.6 -12.3 6.5 7.3 5

 6 FA103162000 Nonfinancial corporate business -0.7 13.2 15.2 13.1 -2.9 15.4 -12.9 52.8 -16.0 6

 (industrial revenue bonds)

 7 FA383162005 Net purchases -46.6 14.0 42.5 10.6 -107.1 -9.7 -30.4 189.6 -139.8 7

 8 FA153062005 Household sector -63.3 -57.0 30.3 -47.1 -194.8 -76.2 -49.2 131.6 -182.4 8

 9 FA103062003 Nonfinancial corporate business 0.1 1.0 -2.6 9.8 24.1 4.2 10.2 0.8 -4.9 9

 10 FA113062003 Nonfinancial noncorporate business -0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.4 0.2 10

 11 FA213062003 State and local governments -0.0 0.3 0.8 0.7 0.4 -0.3 0.9 1.7 0.4 11

 12 FA763062000 U.S.-chartered depository institutions 32.7 47.4 50.3 21.1 27.3 10.9 8.6 37.5 -56.7 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 -0.9 -0.6 -0.4 -0.4 -0.2 -0.2 -1.4 -0.0 -0.0 14

 15 FA473062005 Credit unions -0.8 0.6 0.8 -0.0 -0.1 1.0 -1.3 0.3 -1.2 15

 16 FA513062003 Property-casualty insurance companies -15.4 9.4 1.0 -9.7 -16.2 -8.2 -12.3 -2.0 13.6 16

 17 FA543062005 Life insurance companies 7.7 7.3 8.7 7.3 8.6 5.1 9.3 6.4 7.5 17

 18 FA343062033 Federal government retirement funds -0.0 -0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 18

 19 FA223062043 State and local govt. retirement funds -0.2 0.0 -0.5 1.2 1.3 0.9 -1.4 4.0 1.2 19

 20 FA633062000 Money market funds -26.9 -13.6 -106.2 -19.9 -4.8 -14.0 -28.9 -31.9 25.0 20

 21 FA653062003 Mutual funds 15.1 16.2 41.4 40.0 45.7 44.1 40.7 29.5 53.8 21

 22 FA553062003 Closed-end funds 0.6 -0.1 0.6 0.1 0.0 0.6 -0.2 0.1 -0.0 22

 23 FA563062003 Exchange-traded funds 3.2 3.9 6.2 5.2 2.5 5.8 4.8 7.5 2.8 23

 24 FA403062005 Government-sponsored enterprises -2.6 -2.6 -2.4 -1.2 -0.7 -1.8 -1.7 -0.6 -0.7 24

 25 FA663062003 Brokers and dealers 0.2 -4.9 7.1 -3.9 -5.2 5.9 -15.6 -0.6 5.7 25

 26 FA263062003 Rest of the world 4.3 6.5 7.3 7.2 4.8 12.5 6.6 4.9 -3.9 26

(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, June 7, 2018

F.213 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893163005 Net issues 509.6 253.1 366.2 609.0 721.9 559.9 725.0 429.0 622.4 1

 2 FA103163003 Nonfinancial corporate business 285.4 399.6 278.2 264.2 438.2 220.9 337.5 60.0 273.4 2

 3 FA793163005 Domestic financial sectors 70.3 -60.5 3.1 85.0 30.9 189.8 219.4 -100.3 -5.2 3

 4 FA763163005 U.S.-chartered depository institutions -12.0 -8.4 -16.9 -13.6 -13.6 -15.3 4.5 -30.2 -2.4 4

 5 FA673163005 ABS issuers (net) (1) -12.5 -48.4 -101.4 -28.7 -52.8 -3.8 -44.6 -13.7 -49.3 5

 6 FA613163005 Finance companies 3.0 -12.9 -71.7 -50.6 -95.6 -45.6 24.0 -85.3 32.6 6

 7 FA643163005 REITs 46.9 -7.8 21.8 21.3 19.6 13.0 12.8 39.6 26.5 7

 8 FA663163003 Brokers and dealers 11.5 7.4 -2.2 54.9 2.3 144.4 38.8 34.2 8.9 8

 9 FA733163003 Holding companies 11.3 -16.7 137.6 123.0 139.6 207.8 189.1 -44.4 -46.3 9

 10 FA503163005 Funding corporations 22.2 26.3 35.8 -21.3 31.4 -110.7 -5.1 -0.5 24.8 10

 11 FA263163005 Rest of the world (2) 153.9 -85.9 85.0 259.9 252.8 149.3 168.1 469.3 354.2 11

 12 FA893163005 Net purchases (3) 509.6 253.1 366.2 609.0 721.9 559.9 725.0 429.0 622.4 12

 13 FA153063005 Household sector 76.1 -205.8 -164.2 -75.0 -113.8 -161.2 133.8 -158.9 271.9 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 -0.2 4.0 9.4 8.3 5.4 -4.3 11.1 21.2 4.3 15

 16 FA763063005 U.S.-chartered depository institutions -37.4 -12.2 -6.6 -16.1 65.6 -67.5 -8.9 -53.4 -11.0 16

 17 FA763063605 MBS and other ABS -8.6 -11.9 -26.7 -18.7 -11.0 -20.4 -21.6 -22.0 -12.5 17

 18 FA763063095 Other -28.8 -0.3 20.0 2.7 76.5 -47.1 12.7 -31.4 1.5 18

 19 FA753063005 Foreign banking offices in U.S. 0.9 -24.9 -11.5 -0.6 -19.8 -0.6 -6.0 23.8 -31.7 19

 20 FA743063005 Banks in U.S.-affiliated areas -0.4 0.2 1.1 0.3 0.7 0.3 -0.3 0.5 -1.0 20

 21 FA473063005 Credit unions 1.0 0.9 0.7 -0.8 0.6 -1.1 -2.4 -0.3 0.9 21

 22 FA473063605 MBS and other ABS 1.0 0.9 0.7 -0.9 0.3 -0.9 -2.5 -0.5 0.8 22

 23 FA473063095 Other -0.0 -0.0 0.0 0.1 0.3 -0.2 0.1 0.2 0.1 23

 24 FA513063003 Property-casualty insurance companies 22.7 18.0 15.3 11.6 -7.4 12.7 10.0 31.2 19.5 24

 25 FA513063603 MBS and other ABS 10.3 5.5 1.9 2.4 1.3 2.3 2.6 3.4 4.2 25

 26 FA513063095 Other 12.5 12.6 13.4 9.3 -8.7 10.4 7.5 27.9 15.3 26

 27 FA543063005 Life insurance companies 78.8 80.9 99.5 69.6 93.1 37.7 83.9 63.8 109.4 27

 28 FA543063673 MBS and other ABS 28.3 -0.9 8.3 3.0 3.1 2.6 3.4 2.9 19.0 28

 29 FA543063095 Other 50.5 81.8 91.3 66.7 90.0 35.0 80.6 60.9 90.4 29

 30 FA573063005 Private pension funds 70.1 4.0 36.2 43.0 54.3 11.3 41.0 65.5 29.3 30

 31 FA343063005 Federal government retirement funds 0.0 1.3 0.7 0.2 0.4 0.4 0.3 -0.1 -0.3 31

 32 FA223063045 State and local govt. retirement funds 35.5 34.3 -19.3 33.4 37.5 2.1 56.5 37.4 33.4 32

 33 FA633063003 Money market funds -24.2 -15.1 -58.2 1.3 7.5 -3.8 4.9 -3.5 -4.8 33

 34 FA653063005 Mutual funds 75.1 55.8 96.8 129.9 281.5 33.6 112.1 92.5 185.6 34

 35 FA553063003 Closed-end funds 0.3 1.0 3.2 0.9 2.2 0.3 -0.1 1.3 0.1 35

 36 FA563063003 Exchange-traded funds 35.2 37.2 63.4 89.2 100.6 104.3 87.1 64.9 20.1 36

 37 FA403063005 Government-sponsored enterprises -30.8 -31.1 -23.2 -17.0 -23.2 -14.6 -20.2 -10.1 -1.4 37

 38 FA403063605 MBS and other ABS -30.2 -30.4 -22.5 -16.6 -22.8 -14.1 -19.7 -9.7 -0.9 38

 39 FA403063095 Other -0.7 -0.8 -0.7 -0.5 -0.4 -0.5 -0.5 -0.4 -0.4 39

 40 FA613063003 Finance companies 4.6 2.2 9.9 -10.6 -13.0 -12.3 -15.0 -2.3 -0.3 40

 41 FA643063005 REITs -0.9 4.9 1.0 1.9 5.1 -0.7 1.5 1.8 3.1 41

 42 FA663063005 Brokers and dealers -13.5 -23.3 -12.1 -15.8 13.6 -33.3 -61.5 17.9 3.4 42

 43 FA733063003 Holding companies 2.6 -12.7 2.5 19.2 -2.8 66.8 1.8 11.1 2.2 43

 44 FA503063005 Funding corporations 4.7 -1.4 -4.1 7.1 19.4 3.0 -5.0 10.9 21.8 44

 45 FA263063005 Rest of the world (4) 209.6 334.9 325.8 328.8 214.3 586.9 300.4 213.7 -32.1 45

 46 FA263063603 MBS and other ABS -2.7 8.1 -19.0 -8.3 -24.5 -9.9 2.4 -1.2 -12.7 46

 47 FA263063095 Other 212.3 326.8 344.8 337.1 238.8 596.8 298.0 214.9 -19.4 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, June 7, 2018 61

F.214 Loans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 By instrument

 1 FA894123005 Net change in total loans 943.3 832.4 987.8 1055.4 957.3 1200.2 941.0 1122.9 829.4 1

 2 FA793068005 Depository institution loans n.e.c. 295.1 286.1 172.0 99.0 58.5 132.4 145.6 59.6 174.8 2

 3 FA893169005 Other loans and advances 234.9 -70.9 72.8 172.0 154.0 320.2 142.3 71.6 -27.5 3

 4 FA893065005 Mortgages 192.2 382.7 512.5 595.8 557.6 583.2 503.6 738.6 520.0 4

 5 FA893065105 Home 33.9 147.7 252.5 342.8 387.2 322.7 304.7 356.6 299.2 5

 6 FA893065405 Multifamily residential 56.6 93.3 108.9 115.1 92.1 90.1 100.9 177.5 83.3 6

 7 FA893065505 Commercial 90.1 129.7 133.9 127.7 68.4 160.3 87.9 194.4 134.7 7

 8 FA893065603 Farm 11.6 12.0 17.2 10.1 10.0 10.1 10.2 10.2 2.9 8

 9 FA153166000 Consumer credit 221.2 234.4 230.6 188.5 187.1 164.5 149.5 253.1 162.1 9

 By sector

 10 FA894123005 Net change in liabilities 943.3 832.4 987.8 1055.4 957.3 1200.2 941.0 1122.9 829.4 10

 11 FA384123005 Domestic nonfinancial sectors 686.8 732.7 879.7 1026.1 931.5 1110.5 859.5 1202.7 857.1 11

 12 FA154123005 Household sector 307.3 329.0 472.5 558.6 563.3 568.8 415.1 687.4 496.2 12

 13 FA104123005 Nonfinancial corporate business 95.3 92.9 107.1 209.6 170.4 273.4 242.7 151.9 96.6 13

 14 FA114123005 Nonfinancial noncorporate business 283.8 310.5 299.2 257.4 197.7 267.8 201.4 362.7 263.4 14

 15 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA213169203 State and local governments 0.4 0.3 0.9 0.4 0.2 0.5 0.4 0.7 0.9 16

 17 FA794123005 Domestic financial sectors 165.5 41.3 73.2 16.4 64.1 41.4 37.2 -77.2 -64.5 17

 18 FA763169305 U.S.-chartered depository institutions 58.2 30.4 67.7 20.1 -10.2 20.4 110.4 -40.3 42.4 18

 19 FA473169333 Credit unions 8.4 9.3 2.0 8.2 -6.0 5.8 15.5 17.3 -33.3 19

 20 FA513169333 Property-casualty insurance companies 0.1 0.2 0.5 -0.2 0.1 3.9 -3.8 -0.8 3.9 20

 21 FA543169373 Life insurance companies 1.8 6.2 10.1 6.7 11.8 0.5 3.5 10.9 16.2 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 10.2 15.3 0.0 -11.3 -5.9 -5.1 2.1 -36.5 7.6 23

 24 FA644123005 REITs 21.3 29.2 -15.3 1.0 -7.0 3.7 -17.4 24.6 -16.5 24

 25 FA664123005 Brokers and dealers 65.4 -49.3 8.1 -8.0 81.3 12.2 -73.1 -52.4 -84.8 25

 26 FA504123005 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA264123005 Rest of the world 91.0 58.4 34.9 12.9 -38.3 48.3 44.3 -2.5 36.9 27

 28 FA894123005 Net change in assets 943.3 832.4 987.8 1055.4 957.3 1200.2 941.0 1122.9 829.4 28

 29 FA384023005 Domestic nonfinancial sectors 163.5 54.8 113.5 78.6 163.6 62.8 37.2 50.7 3.0 29

 30 FA154023005 Household sector 46.6 -60.6 -4.4 -31.8 56.4 -6.3 -99.6 -77.7 -93.0 30

 31 FA104023005 Nonfinancial corporate business 2.3 2.4 0.6 -2.8 14.7 -28.3 7.6 -5.1 11.6 31

 32 FA114023005 Nonfinancial noncorporate business -0.4 2.4 2.4 2.2 1.5 2.1 1.6 3.4 2.1 32

 33 FA314023005 Federal government 114.5 104.8 103.0 100.2 83.9 100.1 113.5 103.5 76.6 33

 34 FA213065005 State and local governments 0.6 5.8 12.0 10.7 7.0 -4.9 14.1 26.6 5.6 34

 35 FA794023005 Domestic financial sectors 748.9 740.7 878.6 919.8 745.6 1046.6 862.6 1024.5 814.7 35

 36 FA713068005 Monetary authority -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FA764023005 U.S.-chartered depository institutions 425.3 524.1 496.2 353.4 176.6 378.2 394.6 464.3 348.3 37

 38 FA754023005 Foreign banking offices in U.S. 63.7 87.0 30.8 -3.9 -13.1 10.7 -0.3 -13.0 -43.7 38

 39 FA744023003 Banks in U.S.-affiliated areas -4.3 -5.8 -1.9 -0.6 -3.6 -0.4 -1.8 3.3 -2.4 39

 40 FA474023000 Credit unions 69.2 76.3 84.8 89.0 100.0 98.9 74.7 82.5 127.2 40

 41 FA513065503 Property-casualty insurance companies 2.0 2.4 2.6 2.3 -2.9 5.9 3.5 2.6 3.4 41

 42 FA544023005 Life insurance companies 29.5 41.3 37.4 46.4 62.2 64.1 46.3 13.1 67.0 42

 43 FA573065005 Private pension funds 1.7 -2.0 -0.2 -0.2 -0.3 -0.1 -0.2 -0.2 -0.1 43

 44 FA223065043 State and local govt. retirement funds 1.7 0.1 -0.1 -0.5 -2.3 5.7 -0.0 -5.5 -0.5 44

 45 FA653069803 Mutual funds 9.4 -15.6 18.6 25.7 34.5 40.5 22.9 4.8 -3.9 45

 46 FA404023005 Government-sponsored enterprises 88.5 139.1 191.3 207.0 249.7 135.4 240.8 201.9 185.2 46

 47 FA413065005 Agency- and GSE-backed mortgage pools 75.0 126.9 157.5 193.6 218.5 188.9 174.3 192.7 194.5 47

 48 FA674023005 ABS issuers -68.3 -56.3 -95.2 -42.3 -91.6 13.8 -85.4 -6.2 -69.3 48

 49 FA614023005 Finance companies 6.5 -17.2 -51.1 -23.1 12.3 -8.4 -70.9 -25.5 15.2 49

 50 FA643065005 REITs 19.9 -29.4 14.7 5.9 -15.0 5.3 -6.4 39.6 -3.4 50

 51 FA663069005 Brokers and dealers 38.5 -90.1 -8.4 45.8 21.3 83.6 34.8 43.4 29.1 51

 52 FA733069005 Holding companies -10.9 -40.9 -1.4 18.0 -4.5 -0.8 42.2 35.2 -7.9 52

 53 FA503069805 Funding corporations 1.5 0.8 3.0 3.5 3.7 25.1 -6.4 -8.5 -23.9 53

 54 FA263069500 Rest of the world 31.0 36.9 -4.3 57.0 48.2 90.8 41.2 47.7 11.8 54

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
Transactions

62 Z.1, June 7, 2018

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA793068005 Net change in liabilities 295.1 286.1 172.0 99.0 58.5 132.4 145.6 59.6 174.8 1

 2 FA153168005 Household sector 19.8 31.6 9.6 2.8 -18.8 27.7 -12.4 15.0 16.1 2

 3 FA103168005 Nonfinancial corporate business 70.3 78.1 50.1 34.5 52.0 -9.5 88.3 7.2 60.7 3

 4 FA113168005 Nonfinancial noncorporate business 86.7 98.0 72.5 41.7 47.1 41.4 9.6 68.5 58.5 4

 5 FA793168005 Domestic financial sectors 29.7 20.1 2.8 11.4 14.0 21.2 21.6 -11.4 15.8 5

 6 FA613168003 Finance companies 10.5 13.7 0.2 -11.3 -5.2 -4.5 1.5 -36.9 7.9 6

 7 FA643168005 REITs 7.2 7.3 -9.2 4.7 5.1 5.7 -4.0 12.0 4.7 7

 8 FA663168005 Brokers and dealers 12.0 -1.0 11.8 17.9 14.0 20.0 24.1 13.5 3.2 8

 9 FA713068505 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA263168005 Rest of the world 88.6 58.5 36.9 8.6 -35.8 51.6 38.4 -19.6 23.7 10

 11 FA263168465 Foreign official institutions 1.1 1.3 -2.2 -3.1 -5.5 -5.9 -1.1 -0.0 1.3 11

 12 FA263168485 Foreign nonfinancial corporations 28.2 20.2 2.8 -32.7 -39.7 -26.2 -8.8 -55.9 25.4 12

 13 FA263168495 Foreign nondepository financial institutions 59.4 37.0 36.4 44.4 9.4 83.7 48.4 36.3 -3.0 13

 14 FA793068005 Net change in assets 295.1 286.1 172.0 99.0 58.5 132.4 145.6 59.6 174.8 14

 15 FA713068005 Monetary authority (2) -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA763068005 U.S.-chartered depository institutions 235.9 210.8 146.1 104.4 71.2 129.4 125.8 91.2 217.4 16

 17 FA753068005 Foreign banking offices in U.S. 56.5 73.3 14.9 -13.4 -18.2 -6.1 -2.7 -26.7 -49.0 17

 18 FA743068005 Banks in U.S.-affiliated areas -2.3 -2.0 -1.2 -0.8 -2.1 0.7 -2.2 0.4 -0.3 18

 19 FA473068005 Credit unions 5.1 4.1 12.1 8.8 7.6 8.4 24.7 -5.3 6.7 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 the household, broker and dealer, and funding corporation sectors.
Transactions

Z.1, June 7, 2018 63

F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893169005 Net change in total other loans and advances 234.9 -70.9 72.8 172.0 154.0 320.2 142.3 71.6 -27.5 1

 2 FA313069205 U.S. government loans 2.1 2.1 0.2 2.4 -2.1 1.3 5.5 5.0 9.5 2

 3 FA153169203 Liab.: Household sector 1.2 2.3 2.3 2.7 2.5 2.1 2.4 3.8 5.2 3

 4 FA103169205 Nonfinancial corporate business -1.4 0.6 -0.9 -1.1 -1.4 -0.3 -2.2 -0.4 0.2 4

 5 FA113169205 Nonfinancial noncorporate business -1.2 -3.2 -0.8 -0.4 -0.6 0.4 0.4 -1.7 1.3 5

 6 FA213169203 State and local governments 0.4 0.3 0.9 0.4 0.2 0.5 0.4 0.7 0.9 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 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA263169205 Rest of the world 3.1 2.2 -1.5 0.7 -2.8 -1.6 4.5 2.6 2.0 10

 11 FA263069500 Foreign loans to U.S. corporate business 31.0 36.9 -4.3 57.0 48.2 90.8 41.2 47.7 11.8 11

 12 FA263069500 Liab.: Nonfinancial corporate business 31.0 36.9 -4.3 57.0 48.2 90.8 41.2 47.7 11.8 12

 Customers’ liability on acceptances outstanding

 13 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 13

 14 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 14

 15 FA103169705 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA263169705 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA733069005 Holding company loans -10.9 -40.9 -1.4 18.0 -4.5 -0.8 42.2 35.2 -7.9 17

 18 FA733069013 Liab.: Nonfinancial corporate business -10.1 -38.5 -0.8 14.4 -4.9 0.9 40.9 20.7 -19.1 18

 19 FA733069023 Rest of the world -0.8 -2.4 -0.6 3.6 0.3 -1.7 1.3 14.5 11.2 19

 20 FA153169405 Policy loans (Household liability) 1.7 1.3 -0.1 1.9 0.5 0.6 3.5 3.0 1.3 20

 21 FA313069403 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

 22 FA543069405 Life insurance companies 1.7 1.4 -0.1 1.9 0.5 0.6 3.5 3.0 1.3 22

 23 FA403069330 Federal Home Loan Banks advances (1) 73.1 65.6 73.1 27.8 -22.5 28.3 121.5 -16.1 27.4 23

 24 FA763169335 Liab.: U.S.-chartered depository institutions 58.2 30.4 67.7 20.1 -10.2 20.4 110.4 -40.3 42.4 24

 25 FA473169333 Credit unions 8.4 9.3 2.0 8.2 -6.0 5.8 15.5 17.3 -33.3 25

 26 FA513169333 Property-casualty insurance companies 0.1 0.2 0.5 -0.2 0.1 3.9 -3.8 -0.8 3.9 26

 27 FA543169373 Life insurance companies 1.8 6.2 10.1 6.7 11.8 0.5 3.5 10.9 16.2 27

 28 FA613169333 Finance companies -0.3 1.6 -0.2 -0.1 -0.7 -0.7 0.6 0.4 -0.3 28

 29 FA643169373 Real estate investment trusts 4.9 17.9 -7.1 -6.8 -17.4 -1.6 -4.7 -3.5 -1.5 29

 30 FA403069395 Govt.-sponsored enterprises loans (2) 11.2 8.8 5.9 4.7 -7.3 6.3 3.4 16.5 -0.2 30

 31 FA153169305 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FA183169305 Nonfinancial corporate business (FCS) 1.6 1.2 0.9 0.9 1.7 0.2 -1.3 2.9 4.1 32

 33 FA113169305 Nonfinancial noncorporate business (FCS) 9.5 7.7 5.0 3.8 -8.9 6.1 4.7 13.6 -4.2 33

 34 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 34

 35 FA673069505 Securitized loans held by ABS issuers -1.9 0.0 0.3 0.1 0.1 -0.0 0.0 0.2 0.0 35

 36 FA673069505 Liab.: Nonfinancial corporate business -1.9 0.0 0.3 0.1 0.1 -0.0 0.0 0.2 0.0 36

 37 FA613069500 Finance company loans to business 10.2 13.6 -16.7 -0.8 28.3 0.2 -26.6 -5.1 24.1 37

 38 FA103169535 Liab.: Nonfinancial corporate business 9.2 12.2 -15.0 -0.7 25.5 0.2 -23.9 -4.6 21.7 38

 39 FA113169535 Nonfinancial noncorporate business 1.0 1.4 -1.7 -0.1 2.8 0.0 -2.7 -0.5 2.4 39

 40 FA663067003 Margin accounts at brokers and dealers 30.4 -80.1 -12.4 30.7 11.4 61.4 -17.2 67.2 16.4 40

 41 FA663067003 Liab.: Household sector 30.4 -80.1 -12.4 30.7 11.4 61.4 -17.2 67.2 16.4 41

 42 FA153067005 Cash accounts at brokers and dealers 53.5 -48.3 -3.7 -25.9 67.3 -7.8 -97.2 -65.9 -88.0 42

 43 FA153067005 Asset: Household sector 53.5 -48.3 -3.7 -25.9 67.3 -7.8 -97.2 -65.9 -88.0 43

 44 FA103169803 Loans to nonfinancial corporate business (3) 34.7 -29.8 31.9 56.0 34.5 139.8 66.0 -16.3 -22.0 44

 45 FA153069803 Asset: Household sector -1.6 -2.3 2.6 1.8 -1.8 3.0 10.6 -4.5 4.9 45

 46 FA543069873 Life insurance companies 6.3 -1.8 3.0 3.6 -2.6 9.8 11.3 -4.2 3.4 46

 47 FA653069803 Mutual funds 9.4 -15.6 18.6 25.7 34.5 40.5 22.9 4.8 -3.9 47

 48 FA673069803 ABS issuers 11.0 -1.0 0.8 6.4 -9.2 39.2 -24.4 19.9 -15.2 48

 49 FA663069803 Brokers and dealers 8.2 -10.0 4.0 15.1 9.9 22.2 52.0 -23.8 12.6 49

 50 FA503069805 Funding corporations 1.5 0.8 3.0 3.5 3.7 25.1 -6.4 -8.5 -23.9 50

(1) The Federal Home Loan Banks are included in the government-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 23.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
Transactions

64 Z.1, June 7, 2018

F.217 Total Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893065005 Net change in mortgages 192.2 382.7 512.5 595.8 557.6 583.2 503.6 738.6 520.0 1

 2 FA893065105 Home 33.9 147.7 252.5 342.8 387.2 322.7 304.7 356.6 299.2 2

 3 FA893065405 Multifamily residential 56.6 93.3 108.9 115.1 92.1 90.1 100.9 177.5 83.3 3

 4 FA893065505 Commercial 90.1 129.7 133.9 127.7 68.4 160.3 87.9 194.4 134.7 4

 5 FA893065603 Farm 11.6 12.0 17.2 10.1 10.0 10.1 10.2 10.2 2.9 5

 6 FA893065005 Net borrowing 192.2 382.7 512.5 595.8 557.6 583.2 503.6 738.6 520.0 6

 7 FA153165005 Household sector 33.1 139.6 242.4 331.9 380.5 312.5 289.3 345.3 295.1 7

 8 FA143165005 Nonfinancial business 149.8 239.1 269.0 260.8 171.9 271.1 223.0 377.3 244.7 8

 9 FA103165005 Corporate -38.0 32.4 44.9 48.5 14.6 51.2 33.7 94.4 39.2 9

 10 FA113165005 Noncorporate 187.8 206.7 224.1 212.3 157.3 219.9 189.4 282.8 205.5 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 FA643165005 REITs 9.3 4.0 1.0 3.1 5.3 -0.4 -8.7 16.1 -19.7 12

 13 FA893065005 Net change in assets 192.2 382.7 512.5 595.8 557.6 583.2 503.6 738.6 520.0 13

 14 FA153065005 Household sector -1.0 -7.4 -0.2 -2.5 -2.9 4.1 -7.9 -3.2 -3.2 14

 15 FA103065003 Nonfinancial corporate business 1.9 2.3 -1.1 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 15

 16 FA113065005 Nonfinancial noncorporate business -0.4 2.4 2.4 2.2 1.5 2.1 1.6 3.4 2.1 16

 17 FA313065005 Federal government 1.7 -0.7 3.2 1.6 -4.1 0.4 7.8 2.2 -5.5 17

 18 FA213065005 State and local governments 0.6 5.8 12.0 10.7 7.0 -4.9 14.1 26.6 5.6 18

 19 FA763065005 U.S.-chartered depository institutions 117.9 213.0 246.4 164.7 101.9 200.6 178.6 177.5 115.1 19

 20 FA753065005 Foreign banking offices in U.S. 7.3 13.8 15.8 9.5 5.1 16.8 2.4 13.7 5.3 20

 21 FA743065003 Banks in U.S.-affiliated areas -2.1 -3.8 -0.7 0.2 -1.4 -1.1 0.3 2.9 -2.2 21

 22 FA473065100 Credit unions 26.9 32.7 34.7 42.1 45.0 40.4 37.1 45.8 42.7 22

 23 FA513065503 Property-casualty insurance companies 2.0 2.4 2.6 2.3 -2.9 5.9 3.5 2.6 3.4 23

 24 FA543065005 Life insurance companies 21.6 41.8 34.5 40.9 64.2 53.7 31.5 14.3 62.3 24

 25 FA573065005 Private pension funds 1.7 -2.0 -0.2 -0.2 -0.3 -0.1 -0.2 -0.2 -0.1 25

 26 FA223065043 State and local govt. retirement funds 1.7 0.1 -0.1 -0.5 -2.3 5.7 -0.0 -5.5 -0.5 26

 27 FA403065005 Government-sponsored enterprises (1) 4.3 64.7 112.4 174.4 279.5 100.8 115.9 201.4 158.0 27

 28 FA413065005 Agency- and GSE-backed mortgage pools 75.0 126.9 157.5 193.6 218.5 188.9 174.3 192.7 194.5 28

 29 FA673065005 ABS issuers -78.0 -51.5 -100.2 -32.7 -109.3 -24.8 -37.5 40.6 -50.2 29

 30 FA613065000 Finance companies -8.7 -28.3 -21.0 -14.4 -25.0 -8.9 -9.7 -14.0 -2.1 30

 31 FA643065005 REITs 19.9 -29.4 14.7 5.9 -15.0 5.3 -6.4 39.6 -3.4 31

(1) Sum of home mortgages, multifamily residential mortgages, commercial mortgages, and farm mortgages.
Transactions

Z.1, June 7, 2018 65

F.218 Home Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893065105 Net borrowing 33.9 147.7 252.5 342.8 387.2 322.7 304.7 356.6 299.2 1

 2 FA153165105 Household sector 26.4 131.9 234.8 324.4 373.0 305.0 281.8 337.8 287.5 2

 3 FA103165105 Nonfinancial corporate business 1.5 1.9 1.8 1.0 0.9 0.7 1.4 1.0 1.1 3

 4 FA113165105 Nonfinancial noncorporate business 5.9 13.9 15.9 17.4 13.4 17.0 21.5 17.8 10.6 4

 5 FA893065105 Net change in assets 33.9 147.7 252.5 342.8 387.2 322.7 304.7 356.6 299.2 5

 6 FA153065103 Household sector -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 6

 7 FA103065105 Nonfinancial corporate business 1.2 1.4 -0.7 -1.1 -1.1 -1.1 -1.1 -1.1 -1.1 7

 8 FA113065103 Nonfinancial noncorporate business -0.1 0.9 0.9 0.8 0.6 0.8 0.6 1.2 0.8 8

 9 FA313065105 Federal government 1.2 1.6 1.5 -0.8 -3.8 2.0 -1.3 0.1 -11.4 9

 10 FA213065103 State and local governments 0.7 3.4 6.3 5.7 3.8 -2.3 7.4 13.9 3.0 10

 11 FA763065105 U.S.-chartered depository institutions 15.4 50.9 81.1 51.2 -41.3 72.1 98.4 75.5 27.8 11

 12 FA753065103 Foreign banking offices in U.S. 1.5 -1.4 -0.3 -0.1 -0.1 -0.1 -0.1 -0.2 -0.0 12

 13 FA743065103 Banks in U.S.-affiliated areas -1.5 -1.5 -0.7 0.3 -0.9 -0.7 -0.5 3.1 -1.5 13

 14 FA473065100 Credit unions 26.9 32.7 34.7 42.1 45.0 40.4 37.1 45.8 42.7 14

 15 FA543065105 Life insurance companies 3.5 4.2 3.5 3.5 3.7 4.6 2.7 3.3 3.0 15

 16 FA573065103 Private pension funds 0.0 -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 0.6 0.0 -0.0 -0.2 -0.8 2.1 -0.0 -2.0 -0.2 17

 18 FA403065105 Government-sponsored enterprises 3.2 48.0 79.0 137.6 231.2 88.3 82.8 148.1 161.8 18

 19 FA413065105 Agency- and GSE-backed mortgage pools 50.8 94.1 115.8 141.1 186.6 146.0 123.0 109.0 146.6 19

 20 FA673065105 ABS issuers -64.6 -70.6 -62.9 -28.7 -23.1 -41.7 -29.9 -20.1 -52.7 20

 21 FA613065105 Finance companies -9.8 -14.6 -16.5 -11.4 -15.7 -8.1 -8.7 -13.3 -2.3 21

 22 FA643065105 REITs 8.5 2.2 14.3 6.4 6.8 23.9 -2.2 -2.9 -13.6 22

 Memo:

 23 FV893065153 Charge-offs (2) 53.0 50.4 31.9 27.3 7.1 8.0 6.5 5.8 3.8 23

 24 FA893065125 Home equity loans included above (3) -24.9 -34.2 -38.2 -28.8 -38.6 -22.0 -29.0 -25.7 -47.9 24

 25 FA763065125 U.S.-chartered depository institutions -22.9 -31.7 -35.5 -32.7 -43.8 -27.7 -30.8 -28.4 -54.7 25

 26 FA753065203 Foreign banking offices in U.S. 0.1 -0.0 -0.1 -0.1 -0.0 -0.0 -0.0 -0.1 -0.1 26

 27 FA473065125 Credit unions 1.7 2.0 2.6 5.9 2.0 10.1 4.5 6.8 7.8 27

 28 FA673065123 ABS issuers -1.7 -1.6 -1.8 0.4 4.7 -0.8 -1.5 -1.0 -2.2 28

 29 FA613065123 Finance companies -2.0 -3.0 -3.3 -2.3 -1.5 -3.5 -1.2 -3.1 1.3 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from transactions (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893065405 Net borrowing 56.6 93.3 108.9 115.1 92.1 90.1 100.9 177.5 83.3 1

 2 FA103165405 Nonfinancial corporate business 2.8 4.7 5.3 6.0 5.0 4.7 5.3 9.0 4.3 2

 3 FA113165405 Nonfinancial noncorporate business 52.5 88.9 101.2 113.9 94.9 90.0 100.4 170.2 82.2 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 FA643165483 REITs 1.4 -0.3 2.3 -4.7 -7.8 -4.6 -4.8 -1.7 -3.2 5

 6 FA893065405 Net change in assets 56.6 93.3 108.9 115.1 92.1 90.1 100.9 177.5 83.3 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 -0.1 0.8 0.8 0.7 0.5 0.7 0.5 1.1 0.7 9

 10 FA313065405 Federal government -0.6 -0.3 -0.3 0.1 -0.3 0.9 -1.5 1.4 2.3 10

 11 FA213065403 State and local governments -0.1 2.0 4.6 4.1 2.7 -2.1 5.5 10.5 2.1 11

 12 FA763065403 U.S.-chartered depository institutions 38.0 51.0 43.3 24.3 33.2 34.8 10.1 18.9 31.3 12

 13 FA753065403 Foreign banking offices in U.S. 0.2 1.2 2.1 1.4 -0.6 3.2 0.3 2.5 3.7 13

 14 FA543065405 Life insurance companies 2.8 5.8 4.8 5.8 6.2 7.7 4.2 5.0 5.8 14

 15 FA573065403 Private pension funds -0.0 -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 0.5 0.0 -0.0 -0.2 -0.7 1.7 -0.0 -1.6 -0.2 16

 17 FA403065405 Government-sponsored enterprises -2.7 8.4 26.2 31.7 43.6 6.9 27.9 48.4 -5.1 17

 18 FA413065405 Agency- and GSE-backed mortgage pools 24.3 32.2 41.3 53.4 31.9 46.7 51.4 83.8 48.3 18

 19 FA673065405 ABS issuers -2.4 -6.4 -14.2 -4.7 -16.6 -10.1 2.7 5.1 -6.9 19

 20 FA613065403 Finance companies 0.1 -0.8 0.6 -2.4 -8.7 -0.6 -0.2 -0.2 1.3 20

 21 FA643065405 REITs -3.3 -0.3 -0.2 1.2 1.2 0.5 0.3 2.7 0.2 21
Transactions

66 Z.1, June 7, 2018

F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893065505 Net borrowing 90.1 129.7 133.9 127.7 68.4 160.3 87.9 194.4 134.7 1

 2 FA163165505 Nonprofit organizations (1) 6.7 7.8 7.6 7.5 7.5 7.5 7.5 7.5 7.6 2

 3 FA103165505 Nonfinancial corporate business -46.6 21.7 32.8 37.6 4.8 41.9 23.2 80.4 31.8 3

 4 FA113165505 Nonfinancial noncorporate business 122.1 95.9 94.8 74.9 42.9 106.7 61.1 88.8 111.8 4

 5 FA643165583 REITs 7.9 4.3 -1.3 7.8 13.1 4.2 -3.9 17.8 -16.5 5

 6 FA893065505 Net change in assets 90.1 129.7 133.9 127.7 68.4 160.3 87.9 194.4 134.7 6

 7 FA153065505 Household sector 0.3 -0.1 0.0 0.1 0.0 0.1 0.0 0.1 0.0 7

 8 FA103065503 Nonfinancial corporate business 0.8 0.9 -0.4 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 8

 9 FA113065503 Nonfinancial noncorporate business -0.1 0.7 0.6 0.6 0.4 0.6 0.4 0.9 0.6 9

 10 FA313065505 Federal government 0.2 -2.7 1.4 1.6 -0.5 0.9 5.7 0.1 3.0 10

 11 FA213065503 State and local governments -0.0 0.4 0.9 0.8 0.5 -0.4 1.1 2.1 0.4 11

 12 FA763065503 U.S.-chartered depository institutions 60.1 105.2 116.7 85.5 106.3 90.0 66.4 79.3 55.0 12

 13 FA753065503 Foreign banking offices in U.S. 5.5 13.9 14.1 8.3 6.0 13.6 2.1 11.5 1.7 13

 14 FA743065505 Banks in U.S.-affiliated areas -0.5 -2.2 -0.0 -0.1 -0.5 -0.4 0.8 -0.1 -0.7 14

 15 FA513065503 Property-casualty insurance companies 2.0 2.4 2.6 2.3 -2.9 5.9 3.5 2.6 3.4 15

 16 FA543065505 Life insurance companies 14.9 31.7 25.5 31.0 53.8 40.8 24.0 5.5 53.3 16

 17 FA573065505 Private pension funds 1.7 -1.6 0.2 0.2 0.1 0.3 0.2 0.2 0.3 17

 18 FA223065545 State and local govt. retirement funds 0.6 0.0 -0.0 -0.2 -0.8 2.0 -0.0 -1.9 -0.2 18

 19 FA413065505 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA673065505 ABS issuers -11.1 25.5 -23.2 0.7 -69.7 27.1 -10.3 55.6 9.5 20

 21 FA613065503 Finance companies 1.1 -12.9 -5.1 -0.6 -0.6 -0.2 -0.9 -0.6 -1.0 21

 22 FA643065505 REITs 14.7 -31.4 0.6 -1.7 -23.0 -19.1 -4.5 39.8 10.1 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 11.6 12.0 17.2 10.1 10.0 10.1 10.2 10.2 2.9 1

 2 FA183165605 Nonfinancial corporate business 4.4 4.0 5.0 3.9 3.8 3.9 3.8 4.1 2.0 2

 3 FA233165605 Nonfinancial noncorporate business 7.3 8.0 12.2 6.2 6.1 6.2 6.4 6.0 0.8 3

 4 FA893065603 Net change in assets 11.6 12.0 17.2 10.1 10.0 10.1 10.2 10.2 2.9 4

 5 FA153065605 Household sector 2.1 -3.8 3.2 0.9 0.5 7.5 -4.5 0.2 0.2 5

 6 FA113065603 Nonfinancial noncorporate business -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 6

 7 FA313065605 Federal government 0.9 0.7 0.6 0.6 0.5 -3.5 5.0 0.6 0.6 7

 8 FA213065603 State and local governments -0.0 0.0 0.1 0.1 0.0 -0.0 0.1 0.1 0.0 8

 9 FA763065633 U.S.-chartered depository institutions 4.4 5.9 5.2 3.8 3.7 3.8 3.8 3.8 1.1 9

 10 FA753065603 Foreign banking offices in U.S. 0.2 0.0 -0.0 -0.1 -0.2 -0.0 -0.0 -0.1 -0.1 10

 11 FA543065633 Life insurance companies 0.4 0.1 0.7 0.6 0.6 0.6 0.6 0.6 0.2 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 3.8 8.3 7.1 5.1 4.8 5.6 5.2 4.9 1.3 13

 14 FA413065605 Agency- and GSE-backed mortgage pools -0.1 0.7 0.3 -1.0 -0.0 -3.8 -0.0 -0.0 -0.4 14

(1) Excludes mortgages on farm houses.
Transactions

Z.1, June 7, 2018 67

F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA153166000 Net change in liabilities (Households) 221.2 234.4 230.6 188.5 187.1 164.5 149.5 253.1 162.1 1

 2 FA153166000 Net change in assets 221.2 234.4 230.6 188.5 187.1 164.5 149.5 253.1 162.1 2

 3 FA163066223 Nonprofit organizations (1) -4.2 -2.7 -3.1 -5.3 -6.2 -5.6 -5.2 -4.1 -6.7 3

 4 FA103066005 Nonfinancial corporate business 0.3 0.1 1.7 -0.9 16.6 -26.5 9.5 -3.3 13.5 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) 110.7 103.4 99.6 96.3 90.1 98.5 100.2 96.4 72.6 6

 7 FA763066000 U.S.-chartered depository institutions 71.5 100.2 103.8 84.4 3.5 48.3 90.1 195.6 15.7 7

 8 FA473066000 Credit unions 37.2 39.5 38.0 38.1 47.4 50.1 12.9 42.0 77.8 8

 9 FA403066005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA673066000 ABS issuers 0.6 -3.8 4.0 -16.1 26.8 -0.6 -23.5 -67.0 -4.0 10

 11 FA613066005 Finance companies 5.0 -2.4 -13.4 -7.9 9.0 0.3 -34.6 -6.5 -6.9 11

 Memo:

 12 FA153166100 Credit card loans (3) 33.5 48.0 61.5 59.1 43.8 44.4 48.0 100.4 -0.3 12

 13 FA153166400 Auto loans 79.1 80.7 72.2 36.2 48.0 29.0 15.5 52.4 59.1 13

 14 FA153166220 Student loans (4) 90.7 83.9 87.8 82.7 82.8 77.8 80.9 89.1 63.4 14

 15 FA153166205 Other consumer credit (5) 17.9 21.8 9.1 10.5 12.5 13.3 5.0 11.2 40.0 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, June 7, 2018

F.223 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893064105 Net issues 272.8 -119.8 -317.1 203.4 223.3 561.5 12.6 16.3 165.2 1

 2 FA103164103 Nonfinancial corporate business -394.5 -549.6 -576.8 -378.8 -403.3 -267.7 -539.1 -305.1 -386.0 2

 3 FA793164105 Domestic financial sectors 235.6 232.9 245.3 388.4 477.0 346.3 273.4 457.0 234.9 3

 4 FA763164103 U.S.-chartered depository institutions 2.7 9.5 4.6 7.4 10.3 2.5 3.9 12.9 1.9 4

 5 FA513164103 Property-casualty insurance companies -16.9 -22.0 -19.5 -12.8 -21.4 -16.7 -6.7 -6.3 -4.7 5

 6 FA543164173 Life insurance companies -14.9 -10.0 -5.9 -19.9 -30.2 -13.3 -17.2 -19.0 -17.8 6

 7 FA554090005 Closed-end funds 4.9 1.8 1.6 0.5 2.8 -2.4 1.5 0.3 -0.6 7

 8 FA564090005 Exchange-traded funds 240.8 231.0 283.9 470.8 535.7 447.9 349.0 550.6 249.9 8

 9 FA643164103 REITs 32.7 27.1 32.4 41.8 46.7 43.3 57.1 20.2 28.4 9

 10 FA403164105 Government-sponsored enterprises -1.7 -1.4 3.2 0.9 -4.8 8.5 1.5 -1.6 13.1 10

 11 FA663164103 Brokers and dealers -11.7 3.5 -21.5 -12.5 -11.1 -14.7 -5.8 -18.2 -16.0 11

 12 FA733164103 Holding companies -0.3 -6.5 -33.5 -87.8 -50.9 -108.6 -109.8 -81.8 -19.3 12

 13 FA503164105 Funding corporations (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA263164103 Rest of the world (3) 431.6 196.9 14.4 193.8 149.6 482.9 278.4 -135.6 316.3 14

 15 FA893064105 Net purchases 272.8 -119.8 -317.1 203.4 223.3 561.5 12.6 16.3 165.2 15

 16 FA153064105 Household sector 132.6 -142.3 -109.3 83.5 214.1 413.4 -331.1 37.5 -38.3 16

 17 FA313064105 Federal government -1.6 -0.0 -0.1 -0.1 0.0 -0.5 -0.0 0.0 16.0 17

 18 FA213064103 State and local governments -0.1 2.1 5.0 4.4 2.9 -2.3 5.9 11.3 2.3 18

 19 FA713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA763064105 U.S.-chartered depository institutions 0.7 2.0 -6.9 -0.7 -3.8 0.1 0.2 0.7 11.5 20

 21 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 21

 22 FA513064105 Property-casualty insurance companies 3.4 -1.9 2.1 9.4 20.9 15.6 -2.3 3.3 24.9 22

 23 FA543064105 Life insurance companies -5.0 31.9 100.2 -15.3 -17.6 -8.8 -16.1 -18.7 46.3 23

 24 FA573064105 Private pension funds -183.9 -52.4 -67.4 -126.9 -169.7 -63.5 -120.0 -154.3 -92.0 24

 25 FA343064105 Federal government retirement funds -1.2 0.0 -5.6 6.3 3.0 4.8 -6.0 23.5 -1.4 25

 26 FA223064145 State and local govt. retirement funds -85.0 10.8 -110.2 -125.1 -177.6 -36.6 -85.0 -201.2 -125.1 26

 27 FA653064100 Mutual funds 94.5 56.8 -115.5 -136.8 -224.3 -87.5 -74.3 -161.0 -88.7 27

 28 FA553064103 Closed-end funds 4.3 1.3 0.1 -0.5 0.4 -3.3 1.7 -1.0 -0.5 28

 29 FA563064103 Exchange-traded funds 190.7 173.5 188.4 347.3 392.9 307.0 218.3 471.1 174.4 29

 30 FA663064103 Brokers and dealers 8.7 -10.3 -3.6 18.3 -56.5 59.2 14.4 55.8 44.0 30

 31 FA503064105 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FA263064105 Rest of the world (4) 114.7 -191.3 -194.2 139.6 238.5 -36.2 406.9 -50.7 192.0 32

(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) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC.

(3) Net purchases of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(4) Net purchases of U.S. issues by foreign residents.

F.224 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA653164205 Net issues 309.7 96.7 24.6 313.0 173.3 306.5 372.3 399.8 131.7 1

 2 FA653164205 Net purchases 309.7 96.7 24.6 313.0 173.3 306.5 372.3 399.8 131.7 2

 3 FA153064205 Household sector 251.1 124.3 140.7 349.4 183.9 159.8 626.3 427.7 237.7 3

 4 FA103064203 Nonfinancial corporate business 15.2 7.4 -11.0 5.4 5.4 5.4 5.4 5.4 5.4 4

 5 FA213064203 State and local governments -0.1 1.1 2.6 2.3 1.5 -1.2 3.0 5.8 1.2 5

 6 FA763064203 U.S.-chartered depository institutions -0.7 -0.9 -1.8 0.0 1.0 -5.0 1.8 2.4 -21.0 6

 7 FA473064205 Credit unions -0.2 -0.1 -0.1 0.1 0.2 -0.1 0.5 -0.1 0.4 7

 8 FA513064203 Property-casualty insurance companies 1.2 0.7 -3.6 1.2 1.2 1.2 1.2 1.2 2.5 8

 9 FA543064205 Life insurance companies -53.6 -34.6 -167.0 -77.5 -78.7 -68.0 -62.3 -101.0 -80.5 9

 10 FA573064205 Private pension funds 40.6 -41.8 66.9 24.8 46.4 55.1 -44.7 42.4 19.9 10

 11 FA223064205 State and local govt. retirement funds 15.8 39.0 -54.4 -15.3 8.1 -15.7 -57.4 3.9 -21.7 11

 12 FA263064203 Rest of the world 40.4 1.7 52.4 22.5 4.3 175.0 -101.5 12.1 -12.1 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893170005 Net change in trade payables 221.7 150.4 337.4 330.9 273.8 252.5 394.9 402.6 389.2 1

 2 FA163170005 Nonprofit organizations (1) 26.7 12.6 14.3 15.8 15.8 15.8 15.8 15.8 14.8 2

 3 FA103170005 Nonfinancial corporate business 150.1 22.4 194.6 210.3 166.7 149.2 244.8 280.6 294.4 3

 4 FA113170005 Nonfinancial noncorporate business 9.2 52.4 44.9 37.9 21.6 49.4 41.5 39.3 28.8 4

 5 FA313170005 Federal government -1.1 15.8 31.1 24.0 17.9 10.1 35.9 32.3 22.2 5

 6 FA213170003 State and local governments 39.4 40.5 41.2 42.5 42.1 42.0 42.4 43.7 44.3 6

 7 FA663170003 Brokers and dealers 3.4 8.4 10.4 -4.2 -5.6 -12.4 9.6 -8.2 7.9 7

 8 FA263170003 Rest of the world -5.8 -1.7 0.9 4.4 15.3 -1.5 4.9 -0.9 -23.2 8

 9 FA893070005 Net change in trade receivables 173.3 131.6 311.4 326.8 256.1 268.5 374.1 408.4 419.6 9

 10 FA163070005 Nonprofit organizations (1) 27.5 17.1 18.7 19.6 19.6 19.6 19.6 19.6 18.9 10

 11 FA103070005 Nonfinancial corporate business 104.7 32.1 218.8 220.8 139.1 165.7 252.1 326.2 280.2 11

 12 FA113070003 Nonfinancial noncorporate business 21.2 47.1 45.7 41.9 29.6 40.8 31.3 65.8 40.2 12

 13 FA313070000 Federal government -5.2 12.7 3.8 -1.0 -8.6 12.8 19.9 -28.0 6.4 13

 14 FA213070003 State and local governments 11.1 5.2 16.8 17.7 11.9 12.3 19.4 27.2 17.2 14

 15 FA513070003 Property-casualty insurance companies 5.7 6.3 0.6 11.1 29.6 19.0 4.5 -8.8 36.4 15

 16 FA673070003 ABS issuers -4.4 2.7 -0.1 -1.5 0.1 -3.4 0.3 -2.8 0.9 16

 17 FA263070003 Rest of the world 12.6 8.4 7.3 18.1 34.7 1.6 26.9 9.1 19.5 17

 18 FA903070005 Discrepancy 48.4 18.8 26.0 4.2 17.7 -16.0 20.8 -5.8 -30.4 18

(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 FA883140005 Net change in liabilities 46.0 45.4 25.0 18.1 22.1 1.3 25.2 23.5 32.8 1

 2 FA313140003 Federal government 0.8 -0.1 0.1 -0.2 -1.1 -0.5 0.6 0.3 0.4 2

 3 FA543140005 Life insurance companies 45.2 45.5 24.9 18.2 23.3 1.8 24.6 23.2 32.4 3

 4 FA883140005 Net change in assets 46.0 45.4 25.0 18.1 22.1 1.3 25.2 23.5 32.8 4

 5 FA153040005 Household sector 35.1 34.8 15.4 7.6 12.6 -8.1 12.7 13.4 24.0 5

 6 FA763040005 U.S.-chartered depository institutions 5.9 6.5 5.6 6.4 5.6 5.4 8.5 6.2 4.9 6

 7 FA733040005 Holding companies 5.0 4.1 4.0 4.0 4.0 4.0 4.0 4.0 4.0 7
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70 Z.1, June 7, 2018

F.227 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA153050005 Net change in liabilities 331.9 359.6 431.4 375.6 412.2 341.7 263.6 484.9 280.0 1

 2 FA543150005 Life insurance companies (1) 23.6 91.3 32.3 -22.7 -6.9 -16.9 -47.1 -20.0 -49.5 2

 3 FA574190005 Private pension funds (2) 26.8 -48.1 134.6 53.9 85.6 23.7 -20.1 126.6 11.6 3

 4 FA344090005 Federal government retirement funds (3) 107.4 112.1 110.1 112.3 112.4 110.9 112.1 113.9 120.2 4

 5 FA224190005 State and local govt. retirement funds 174.1 204.4 154.4 232.1 221.1 223.9 218.8 264.3 197.7 5

 6 FA153050005 Net change in assets (Households) (4) 331.9 359.6 431.4 375.6 412.2 341.7 263.6 484.9 280.0 6

 Memo:

 7 FA893131573 Individual Retirement Accounts (IRAs): (5) 234.3 339.2 255.3 140.2 24.6 39.9 16.4 480.0 ND 7

 8 FA763131573 U.S.-chartered depository institutions 0.1 18.0 36.6 -13.1 -20.8 -32.3 -3.1 3.9 ND 8

 9 FA473131573 Credit unions -1.6 -0.2 1.5 -0.4 0.3 0.6 -0.2 -2.5 ND 9

 10 FA543131503 Life insurance companies 13.9 12.7 20.0 9.9 16.2 14.4 1.1 7.9 ND 10

 11 FA633131573 Money market funds -10.0 -4.0 29.0 -3.0 0.0 -28.0 16.0 0.0 ND 11

 12 FA653131573 Mutual funds 84.9 60.9 14.2 81.7 75.7 64.4 4.8 181.7 ND 12

 13 FA153131575 Other self-directed accounts 146.9 251.8 154.0 65.2 -46.8 20.8 -2.3 289.0 ND 13

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Asset of the household and nonprofit organizations sector (table F.101). Figures for depositories (lines 8 and 9) include Keogh accounts. Variable annuities in IRAs are included

 in the life insurance sector (line 10) and excluded from the money market fund and mutual fund sectors (lines 11 and 12).

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 25.9 -4.4 -2.3 279.4 -20.0 24.4 29.4 1083.6 -61.4 1

 businesses

 2 FA103178005 Nonfinancial corporate business -1.4 -1.3 -8.8 213.0 8.5 13.1 -20.3 850.6 -13.4 2

 3 FA113178003 Nonfinancial noncorporate business 6.8 3.5 3.3 3.1 2.2 3.0 2.3 4.8 2.9 3

 4 FA763178003 U.S.-chartered depository institutions 20.1 -8.1 0.7 31.8 -29.1 18.1 43.9 94.3 -55.1 4

 5 FA513178005 Property-casualty insurance companies -0.5 0.8 1.0 4.7 -1.7 -5.3 2.3 23.6 3.7 5

 6 FA543178075 Life insurance companies -0.5 0.8 1.0 2.1 -1.7 -5.3 2.3 13.1 -0.8 6

 7 FA613178005 Finance companies 1.0 0.8 0.3 11.8 -0.6 0.2 -3.8 51.4 -2.8 7

 8 FA663178005 Brokers and dealers 0.3 -0.8 0.1 13.0 2.5 0.6 2.8 46.0 4.1 8

 9 FA893078005 Net change in business taxes receivable 5.0 3.5 26.8 300.6 90.5 -27.9 82.6 1057.2 -20.1 9

 10 FA313078005 Federal government -3.7 -1.0 23.5 297.6 85.5 -38.1 84.4 1058.4 -26.4 10

 11 FA213078005 State and local governments 8.8 4.4 3.3 3.1 5.0 10.2 -1.8 -1.1 6.3 11

 12 FA903078005 Discrepancy 20.8 -7.9 -29.1 -21.3 -110.5 52.3 -53.3 26.4 -41.3 12

F.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA152090205 Total household investment 143.7 24.5 49.3 44.1 55.2 51.3 32.0 37.9 79.9 1

 2 FA112090205 Nonfinancial noncorporate business 141.0 18.8 40.2 48.7 56.7 58.8 34.9 44.4 86.5 2

 3 FA662090205 Brokers and dealers 2.7 5.8 9.1 -4.6 -1.5 -7.5 -2.9 -6.5 -6.6 3
Transactions

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F.230 Direct Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad:

 1 FA263192005 Liab.: Rest of the world (1) 313.5 281.7 300.5 362.6 433.2 335.1 231.7 450.4 -491.3 1

 2 FA263192101 Equity 330.4 296.5 329.7 374.9 394.1 374.3 271.4 459.9 -458.3 2

 3 FA263192113 Equity (other than reinvested earnings) 18.8 5.6 31.1 30.3 48.8 21.4 9.3 41.8 18.3 3

 4 FA263192125 Reinvested earnings 311.6 290.9 298.6 344.6 345.3 352.8 262.1 418.1 -476.6 4

 5 FA263192193 Of which: Current-cost adjustment 18.8 19.1 19.8 20.3 20.2 20.3 20.4 20.5 20.6 5

 6 FA263192305 Intercompany debt (2) -16.8 -14.8 -29.2 -12.3 39.0 -39.1 -39.7 -9.5 -33.0 6

 7 FA263192313 U.S. parents’ claims -6.8 14.4 -11.1 25.9 81.5 8.6 38.2 -24.8 -17.1 7

 8 FA263092313 Less: U.S. parents’ liabilities 10.1 29.2 18.1 38.2 42.4 47.7 77.9 -15.4 15.9 8

 9 FA103092005 Asset: Nonfinancial corporate business 291.1 260.4 253.8 333.6 388.2 304.4 218.0 423.6 -440.3 9

 10 FA263192193 Of which: Current-cost adjustment 18.8 19.1 19.8 20.3 20.2 20.3 20.4 20.5 20.6 10

 11 FA763092000 U.S.-chartered depository institutions 1.6 -3.6 -6.5 3.2 3.8 -3.4 -6.8 19.2 -9.2 11

 12 FA513092003 Property-casualty insurance companies 8.2 4.9 2.0 -1.3 6.4 14.4 5.8 -31.9 -25.6 12

 13 FA543092073 Life insurance companies 0.1 -0.4 1.4 2.3 3.6 5.0 -3.6 4.2 -6.7 13

 14 FA613092003 Finance companies 4.6 9.2 33.4 16.9 20.9 3.3 19.3 24.3 -6.0 14

 15 FA663092003 Brokers and dealers 7.8 11.2 16.4 7.9 10.3 11.4 -1.1 11.0 -3.5 15

 Foreign direct investment in U.S.:

 16 FA103192005 Liab.: Nonfinancial corporate business 185.2 436.2 386.8 241.7 264.1 258.2 225.0 219.5 213.1 16

 17 FA263092193 Of which: Current-cost adjustment 10.6 10.9 11.2 11.5 11.3 11.4 11.5 11.6 11.7 17

 18 FA115114005 Nonfinancial noncorporate business 1.8 1.9 2.3 1.3 0.1 3.3 1.2 0.8 0.5 18

 19 FA753192003 Foreign banking offices in U.S. 3.7 2.0 6.0 4.9 18.2 -5.4 4.7 2.3 1.3 19

 20 FA513192003 Property-casualty insurance companies 0.9 13.2 31.3 1.9 0.9 7.0 5.6 -5.9 -3.1 20

 21 FA543192073 Life insurance companies 1.4 8.8 10.8 8.0 0.5 15.8 5.5 10.3 7.7 21

 22 FA613192003 Finance companies 7.6 -5.5 -1.4 0.9 5.1 -0.8 -0.2 -0.8 -2.4 22

 23 FA663192005 Brokers and dealers 11.1 2.0 -109.4 16.3 7.9 24.3 -12.6 45.6 3.5 23

 24 FA733192003 Holding companies 0.0 17.5 141.3 11.2 31.8 16.1 29.6 -32.7 -7.4 24

 25 FA503192003 Funding corporations 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 25

 26 FA263092001 Asset: Rest of the world (1) 212.3 476.7 468.3 286.9 329.1 319.1 259.4 239.8 213.7 26

 27 FA263092101 Equity 146.4 390.2 351.8 293.7 358.6 274.0 292.8 249.3 207.1 27

 28 FA263092113 Equity (other than reinvested earnings) 51.6 309.4 254.1 185.2 249.8 192.9 179.0 119.3 95.0 28

 29 FA263092125 Reinvested earnings 94.8 80.7 97.7 108.5 108.9 81.1 113.9 130.0 112.2 29

 30 FA263092193 Of which: Current-cost adjustment 10.6 10.9 11.2 11.5 11.3 11.4 11.5 11.6 11.7 30

 31 FA263092303 Intercompany debt 65.9 86.5 116.6 -6.8 -29.5 45.1 -33.4 -9.5 6.6 31

 32 FA263092323 U.S. affiliates’ liabilities 81.2 86.8 109.5 16.8 -10.2 51.1 44.0 -17.6 7.7 32

 33 FA263192323 Less: U.S. affiliates’ claims 15.3 0.2 -7.0 23.7 19.3 6.0 77.4 -8.0 1.2 33

 Memo:

 Direct investment, asset/liability presentation:

 34 FA263192035 Net U.S. acquisition of direct investment assets 338.9 311.1 311.6 424.4 494.9 388.8 386.9 427.0 -474.2 34

 35 FA263192101 Equity (line 2) 330.4 296.5 329.7 374.9 394.1 374.3 271.4 459.9 -458.3 35

 36 FA263192345 Intercompany debt 8.5 14.7 -18.2 49.5 100.7 14.6 115.6 -32.9 -15.9 36

 37 FA263192313 U.S. parents’ claims (line 7) -6.8 14.4 -11.1 25.9 81.5 8.6 38.2 -24.8 -17.1 37

 38 FA263192323 U.S. affiliates’ claims (line 32) 15.3 0.2 -7.0 23.7 19.3 6.0 77.4 -8.0 1.2 38

 39 FA263092035 Net U.S. incurrence of direct investment liabilities 237.7 506.2 479.4 348.7 390.8 372.8 414.7 216.4 230.8 39

 40 FA263092101 Equity (line 26) 146.4 390.2 351.8 293.7 358.6 274.0 292.8 249.3 207.1 40

 41 FA263092345 Intercompany debt 91.2 116.0 127.6 55.0 32.2 98.8 121.9 -32.9 23.7 41

 42 FA263092313 U.S. parents’ liabilities (line 8) 10.1 29.2 18.1 38.2 42.4 47.7 77.9 -15.4 15.9 42

 43 FA263092323 U.S. affiliates’ liabilities (line 31) 81.2 86.8 109.5 16.8 -10.2 51.1 44.0 -17.6 7.7 43

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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72 Z.1, June 7, 2018

F.231 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893190005 Net change in liabilities 1613.8 1144.3 1724.5 1402.8 1663.9 1687.8 25.0 2234.6 369.6 1

 2 FA543077073 Household sector 1.2 1.7 -0.3 1.8 5.5 1.7 0.2 -0.3 9.8 2

 3 FA103190005 Nonfinancial corporate business 1025.3 1003.4 988.0 413.8 148.9 347.6 503.8 654.9 593.9 3

 4 FA113193003 Nonfinancial noncorporate business 77.9 28.5 17.4 17.3 16.9 17.3 17.0 18.0 33.2 4

 5 FA313190005 Federal government 35.0 29.9 33.5 202.7 517.6 489.1 -884.7 688.7 -675.1 5

 6 FA223073045 State and local governments 185.1 149.9 229.9 266.2 302.1 173.2 244.6 345.0 266.2 6

 7 FA713190005 Monetary authority -9.3 24.2 4.7 23.1 -53.5 60.9 -165.9 251.0 -92.8 7

 8 FA763190005 U.S.-chartered depository institutions 313.6 68.8 136.4 88.9 328.5 30.7 24.5 -28.1 -105.6 8

 9 FA753190005 Foreign banking offices in U.S. -11.7 -9.2 -17.1 -3.4 42.2 -74.8 -18.8 37.7 47.8 9

 10 FA743193005 Banks in U.S.-affiliated areas -2.2 -2.1 -1.2 0.3 -1.3 1.5 -0.9 1.8 -1.3 10

 11 FA473193005 Credit unions 1.2 0.5 7.2 -5.0 -24.8 -1.0 0.0 5.9 62.1 11

 12 FA513190005 Property-casualty insurance companies 11.1 3.9 0.4 67.1 75.8 95.4 206.1 -109.0 52.0 12

 13 FA543190005 Life insurance companies 38.4 -29.2 44.1 83.2 92.4 123.2 65.3 52.0 38.0 13

 14 FA403190005 Government-sponsored enterprises -3.6 -4.6 3.7 0.3 -36.5 7.1 26.6 4.1 -5.7 14

 15 FA613190005 Finance companies 0.8 -17.7 -30.6 -8.2 0.3 59.2 -134.6 42.3 -88.8 15

 16 FA643193005 REITs 6.9 -1.9 16.3 4.5 -9.6 14.7 38.0 -25.2 -18.1 16

 17 FA663190005 Brokers and dealers -31.0 -0.1 127.9 65.6 63.3 62.2 -8.7 145.6 -46.0 17

 18 FA733193005 Holding companies -31.4 -147.7 -22.5 64.3 103.0 425.8 -213.2 -58.4 -166.2 18

 19 FA503190005 Funding corporations 17.7 51.2 179.8 116.8 89.4 -175.7 355.2 198.3 403.3 19

 20 FA263190005 Rest of the world -11.0 -5.2 7.0 3.6 3.7 29.7 -29.5 10.4 62.8 20

 21 FA893090005 Net change in assets 1404.5 1547.7 1991.2 1481.4 2062.4 1911.6 306.1 1645.6 1059.7 21

 22 FA153090005 Household sector 8.0 34.2 53.1 42.3 21.9 27.0 120.1 0.4 68.0 22

 23 FA103090005 Nonfinancial corporate business 386.5 1118.3 932.5 282.7 268.4 443.3 314.3 105.1 971.4 23

 24 FA113090005 Nonfinancial noncorporate business 332.2 198.0 198.2 146.3 104.2 167.9 140.0 173.3 154.4 24

 25 FA213093003 State and local governments 4.5 7.4 6.5 5.8 3.7 -3.0 7.7 14.7 3.0 25

 26 FA313090005 Federal government 12.5 14.4 13.2 10.2 15.8 -6.0 11.6 19.1 9.5 26

 27 FA713090005 Monetary authority -0.5 -20.2 -11.8 -6.8 -24.1 -16.3 -11.3 24.7 -48.0 27

 28 FA763090005 U.S.-chartered depository institutions 14.1 19.6 59.3 -17.7 132.8 6.9 -62.6 -148.2 124.8 28

 29 FA753093005 Foreign banking offices in U.S. 14.4 -13.0 4.9 39.9 -11.0 40.7 25.6 104.4 -21.1 29

 30 FA743093005 Banks in U.S.-affiliated areas 12.8 1.5 6.6 -7.7 -1.3 -1.6 -31.5 3.8 1.2 30

 31 FA473090005 Credit unions 5.4 6.1 25.9 -19.1 -92.8 1.3 0.4 14.7 11.7 31

 32 FA513090005 Property-casualty insurance companies -7.5 28.4 14.9 13.9 102.4 13.2 24.7 -84.6 47.3 32

 33 FA543090005 Life insurance companies 67.4 -18.8 37.3 18.9 31.2 17.6 52.9 -25.9 -104.8 33

 34 FA573090005 Private pension funds 66.8 71.1 85.4 96.8 139.6 18.9 86.5 142.3 40.8 34

 35 FA343073005 Federal government retirement funds 21.6 18.9 14.9 189.9 552.9 470.3 -914.3 650.5 -683.6 35

 36 FA223090005 State and local govt. retirement funds 186.8 151.6 266.5 300.4 331.6 193.3 272.6 404.2 271.9 36

 37 FA633093005 Money market funds -14.7 -7.0 -6.4 -0.4 -83.3 -27.2 5.3 103.6 -74.3 37

 38 FA653093005 Mutual funds 102.8 -48.7 -127.4 36.0 -71.1 -46.3 25.7 235.6 -133.6 38

 39 FA563093003 Exchange-traded funds -1.4 2.1 11.7 1.6 2.8 8.1 2.4 -6.9 11.8 39

 40 FA403093005 Government-sponsored enterprises -11.0 -6.5 2.6 -39.8 -105.2 31.3 9.6 -94.7 -25.5 40

 41 FA673090543 ABS issuers 9.2 1.6 6.9 12.1 11.2 15.3 25.1 -3.0 9.9 41

 42 FA613090005 Finance companies 18.5 -5.6 -12.1 -13.8 -57.7 14.6 -19.9 7.9 -53.9 42

 43 FA643090005 REITs 13.4 11.2 31.0 10.7 -12.4 5.1 37.9 12.2 45.9 43

 44 FA663090005 Brokers and dealers 48.7 -59.6 -23.5 107.9 287.0 53.3 6.6 84.8 308.7 44

 45 FA733090005 Holding companies 111.2 -7.1 370.4 319.3 424.6 697.2 226.6 -71.5 29.3 45

 46 FA503094505 Funding corporations 2.8 49.7 30.7 -48.3 91.0 -213.4 -49.9 -20.9 94.9 46

 47 FA903090005 Discrepancy 209.3 -403.4 -266.7 -78.6 -398.5 -223.8 -281.1 589.0 -690.1 47
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F.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 Federal government equity in IBRD, etc.:

 1 FA313092803 Liab.: Rest of the world 2.3 2.2 2.0 0.8 0.6 0.0 2.5 -0.0 0.0 1

 2 FA313092803 Asset: Federal government 2.3 2.2 2.0 0.8 0.6 0.0 2.5 -0.0 0.0 2

 Federal Reserve Bank stock:

 3 FA713164003 Liab.: Monetary authority 1.1 0.9 1.0 0.9 0.6 1.0 1.4 0.8 1.1 3

 4 FA713164003 Asset: U.S.-chartered depository institutions 1.1 0.9 1.0 0.9 0.6 1.0 1.4 0.8 1.1 4

 Equity in govt.-sponsored enterprises:

 5 FA403192405 Liab.: Government-sponsored enterprises 1.2 1.3 2.7 4.2 -3.8 8.0 9.4 3.2 -1.8 5

 6 FA103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.1 0.1 0.1 0.3 0.5 -0.3 0.6 0.3 0.7 6

 7 FA113092405 Nonfinancial noncorporate (FCS) 0.7 0.5 0.7 2.5 0.7 0.8 8.2 0.3 -1.0 7

 8 FA313092403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA763092405 U.S.-chartered depository institutions (FHLB) -0.6 -1.4 1.9 0.7 -5.4 7.3 0.4 0.6 -1.4 9

 10 FA473092403 Credit unions (FHLB) 0.6 0.4 0.1 0.6 0.1 0.5 0.5 1.5 -1.7 10

 11 FA513092403 Property-casualty insurance companies (FHLB) 0.0 0.0 0.0 -0.0 0.0 0.2 -0.2 -0.0 0.2 11

 12 FA543092473 Life insurance companies (FHLB) 0.1 0.5 0.4 0.4 1.1 -0.3 0.0 0.7 1.4 12

 13 FA613092403 Finance companies -0.0 0.1 -0.0 -0.0 -0.0 -0.1 0.0 0.0 0.0 13

 14 FA643092473 Real estate investment trusts (FHLB) 0.3 1.1 -0.5 -0.4 -0.9 -0.1 -0.3 -0.2 -0.0 14

 Holding company net transactions with subsidiaries:

 15 FA763194735 Liab.: U.S.-chartered depository institutions 195.9 42.1 110.5 91.3 174.7 108.1 179.1 -96.7 -122.1 15

 16 FA513194733 Property-casualty insurance companies 0.1 -0.8 -0.2 0.6 -1.4 1.9 0.7 1.1 1.8 16

 17 FA543194733 Life insurance companies 0.8 0.5 1.3 2.5 1.4 2.6 1.5 4.6 -2.7 17

 18 FA613194733 Finance companies -14.8 -8.9 -10.9 -6.1 -8.4 -3.0 -12.8 -0.0 -31.3 18

 19 FA663194735 Brokers and dealers 6.5 92.9 154.3 -53.3 -289.0 -63.6 166.3 -26.8 24.6 19

 20 FA263194735 Rest of the world -14.6 -6.9 0.4 -3.7 5.0 37.7 -34.2 -23.4 91.0 20

 21 FA733094703 Asset: Holding companies 173.9 119.0 255.4 31.3 -117.6 83.6 300.6 -141.4 -38.6 21

 NFC investment in finance company subsidiaries:

 22 FA103094105 Liab.: Finance companies 15.8 2.2 -13.1 12.6 -0.0 16.4 -9.6 43.6 7.5 22

 23 FA103094105 Asset: Nonfinancial corporate business 15.8 2.2 -13.1 12.6 -0.0 16.4 -9.6 43.6 7.5 23

 Funding corporations’ investment in subsidiaries:

 24 FA753194503 Liab.: Foreign banking offices in U.S. -20.3 2.2 -5.6 -20.1 41.4 -84.0 -30.6 -7.1 43.8 24

 25 FA663194505 Brokers and dealers 23.1 47.6 36.3 -28.2 49.6 -129.4 -19.3 -13.7 51.1 25

 26 FA503094505 Asset: Funding corporations 2.8 49.7 30.7 -48.3 91.0 -213.4 -49.9 -20.9 94.9 26

 Equity investment under Public-Private Inv. Program:

 27 FA503194305 Liab.: Funding corporations 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

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
Transactions

74 Z.1, June 7, 2018

F.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 FA263191103 Liab.: Rest of the world 1.3 -0.5 4.6 6.5 -2.0 -8.0 2.2 33.8 -28.2 1

 2 FA313091105 Asset: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA713091103 Monetary authority (1) 1.3 -0.5 4.6 6.5 -2.0 -8.0 2.2 33.8 -28.2 3

 Postal Savings System deposits:

 4 FA313131003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA313131003 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 FA403197033 Liab.: Government-sponsored enterprises -1.5 -0.5 -0.4 -0.3 1.8 3.2 -5.5 -0.7 1.8 6

 7 FA403197033 Asset: U.S.-chartered depository institutions -1.5 -0.5 -0.4 -0.3 1.8 3.2 -5.5 -0.7 1.8 7

 Funding agreements backing securities:

 8 FA673090543 Liab.: Life insurance companies (2) 9.2 1.6 6.9 12.1 11.2 15.3 25.1 -3.0 9.9 8

 9 FA673090543 Asset: ABS issuers 9.2 1.6 6.9 12.1 11.2 15.3 25.1 -3.0 9.9 9

 Deferred and unpaid life insurance premiums:

 10 FA543077073 Liab.: Household sector 1.2 1.7 -0.3 1.8 5.5 1.7 0.2 -0.3 9.8 10

 11 FA543077073 Asset: Life insurance companies 1.2 1.7 -0.3 1.8 5.5 1.7 0.2 -0.3 9.8 11

 Life insurance company reserves:

 12 FA543195005 Liab.: Life insurance companies 5.8 3.4 22.9 15.6 25.7 6.6 9.4 20.6 36.9 12

 13 FA543195105 Accident and health 5.5 8.1 21.9 13.4 18.9 6.5 2.6 25.6 26.0 13

 14 FA543195205 Policy dividend accumulation 0.2 -5.3 -0.7 -0.5 0.6 1.8 2.8 -7.1 2.0 14

 15 FA543195373 Contract claims 0.1 0.6 1.7 2.6 6.2 -1.8 4.0 2.0 8.9 15

 16 FA543195005 Asset: Household sector 5.8 3.4 22.9 15.6 25.7 6.6 9.4 20.6 36.9 16

 Policy payables:

 17 FA513176003 Liab.: Property-casualty insurance companies 14.7 15.5 21.0 34.5 -26.6 54.7 181.0 -71.1 23.7 17

 18 FA153076005 Asset: Household sector -8.2 23.4 17.4 17.2 -12.9 25.6 93.4 -37.2 14.5 18

 19 FA103076005 Nonfinancial corporate business 10.4 2.3 6.6 13.9 -10.5 22.5 71.4 -27.8 9.0 19

 20 FA113076005 Nonfinancial noncorporate business 12.6 -10.2 -3.0 3.3 -3.3 6.6 16.1 -6.1 0.3 20

 Unallocated insurance company contracts:

 21 FA593095005 Liab.: Life insurance companies -14.5 -21.5 0.1 21.7 12.0 15.7 21.5 37.6 -14.8 21

 22 FA573095005 Asset: Private pension funds -8.1 -21.4 6.7 6.5 7.3 6.1 3.1 9.3 -10.7 22

 23 FA223095505 State and local government retirement funds -6.4 -0.1 -6.6 15.3 4.7 9.6 18.4 28.3 -4.1 23

 Pension fund contributions payable:

 24 FA573074005 Liab.: Nonfinancial corporate business -2.9 14.7 5.6 6.4 8.5 1.8 6.1 9.3 4.2 24

 25 FA573074005 Asset: Private pension funds -2.9 14.7 5.6 6.4 8.5 1.8 6.1 9.3 4.2 25

 Securities borrowed (net):

 26 FA663097005 Liab.: Funding corporations 47.1 -13.8 -40.5 70.9 194.2 30.1 -49.9 109.0 217.7 26

 27 FA663097005 Asset: Brokers and dealers 47.1 -13.8 -40.5 70.9 194.2 30.1 -49.9 109.0 217.7 27

 Retiree health care funds:

 28 FA313195105 Liab.: Federal government (3) 10.4 7.4 12.9 9.6 9.1 -5.1 17.3 17.0 16.6 28

 29 FA313195105 Asset: Household sector 10.4 7.4 12.9 9.6 9.1 -5.1 17.3 17.0 16.6 29

 Claims of pension fund on sponsor:

 30 FA573073005 Liab.: Nonfinancial corporate business 51.9 93.6 50.0 55.4 90.1 4.0 49.8 77.7 27.1 30

 31 FA343073005 Federal government 21.6 18.9 14.9 189.9 552.9 470.3 -914.3 650.5 -683.6 31

 32 FA223073045 State and local governments 185.1 149.9 229.9 266.2 302.1 173.2 244.6 345.0 266.2 32

 33 FA573073005 Asset: Private pension funds 51.9 93.6 50.0 55.4 90.1 4.0 49.8 77.7 27.1 33

 34 FA343073005 Federal government retirement funds 21.6 18.9 14.9 189.9 552.9 470.3 -914.3 650.5 -683.6 34

 35 FA223073045 State and local govt. retirement funds 185.1 149.9 229.9 266.2 302.1 173.2 244.6 345.0 266.2 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables F.133 and F.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
Transactions

Z.1, June 7, 2018 75

F.234 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA893193005 Net change in liabilities 1087.3 698.6 1118.6 711.0 508.5 1028.6 183.1 1123.8 419.3 1

 2 FA103193005 Nonfinancial corporate business 976.2 895.2 932.5 352.0 50.2 341.9 447.9 567.9 562.6 2

 3 FA113193003 Nonfinancial noncorporate business 77.9 28.5 17.4 17.3 16.9 17.3 17.0 18.0 33.2 3

 4 FA313193005 Federal government 3.0 3.5 5.8 3.2 -44.4 23.9 12.3 21.1 -8.1 4

 5 FA713193005 Monetary authority -10.4 23.3 3.7 22.2 -54.1 59.9 -167.2 250.2 -93.9 5

 6 FA763193005 U.S.-chartered depository institutions 117.7 26.7 25.8 -2.4 153.8 -77.4 -154.7 68.6 16.5 6

 7 FA753193005 Foreign banking offices in U.S. 8.6 -11.3 -11.4 16.7 0.8 9.2 11.8 44.8 4.0 7

 8 FA743193005 Banks in U.S.-affiliated areas -2.2 -2.1 -1.2 0.3 -1.3 1.5 -0.9 1.8 -1.3 8

 9 FA473193005 Credit unions 1.2 0.5 7.2 -5.0 -24.8 -1.0 0.0 5.9 62.1 9

 10 FA513193005 Property-casualty insurance companies -3.7 -10.8 -20.4 32.0 103.8 38.8 24.5 -39.0 26.5 10

 11 FA543193005 Life insurance companies 37.1 -13.3 13.0 31.2 42.0 83.0 7.6 -7.7 8.6 11

 12 FA403193005 Government-sponsored enterprises -3.4 -5.3 1.4 -3.6 -34.5 -4.2 22.8 1.6 -5.7 12

 13 FA613193005 Finance companies -0.1 -11.0 -6.5 -14.8 8.7 45.7 -112.2 -1.3 -65.0 13

 14 FA643193005 REITs 6.9 -1.9 16.3 4.5 -9.6 14.7 38.0 -25.2 -18.1 14

 15 FA663193005 Brokers and dealers -60.6 -140.5 -62.8 147.1 302.7 255.2 -155.7 186.1 -121.7 15

 16 FA733193005 Holding companies -31.4 -147.7 -22.5 64.3 103.0 425.8 -213.2 -58.4 -166.2 16

 17 FA503193005 Funding corporations -29.4 64.9 220.3 45.9 -104.8 -205.8 405.0 89.3 185.6 17

 18 FA893093005 Net change in assets 878.0 1102.0 1385.3 789.6 907.1 1252.4 464.2 534.9 1109.4 18

 19 FA103093005 Nonfinancial corporate business 360.2 1113.7 938.9 255.9 278.3 404.6 251.8 88.9 954.2 19

 20 FA113093005 Nonfinancial noncorporate business 318.9 207.7 200.5 140.5 106.8 160.5 115.6 179.1 155.1 20

 21 FA313093003 Federal government 10.2 12.2 11.2 9.4 15.2 -6.0 9.1 19.2 9.5 21

 22 FA213093003 State and local governments 4.5 7.4 6.5 5.8 3.7 -3.0 7.7 14.7 3.0 22

 23 FA713093005 Monetary authority -1.8 -19.7 -16.4 -13.3 -22.1 -8.3 -13.5 -9.1 -19.7 23

 24 FA763093005 U.S.-chartered depository institutions 15.1 20.6 56.9 -19.1 135.9 -4.5 -58.9 -148.9 123.3 24

 25 FA753093005 Foreign banking offices in U.S. 14.4 -13.0 4.9 39.9 -11.0 40.7 25.6 104.4 -21.1 25

 26 FA743093005 Banks in U.S.-affiliated areas 12.8 1.5 6.6 -7.7 -1.3 -1.6 -31.5 3.8 1.2 26

 27 FA473093005 Credit unions 4.9 5.7 25.8 -19.7 -92.8 0.9 -0.1 13.2 13.4 27

 28 FA513093005 Property-casualty insurance companies -7.5 28.4 14.9 13.9 102.4 12.9 24.9 -84.6 47.1 28

 29 FA543093005 Life insurance companies 66.0 -20.9 37.3 16.8 24.5 16.2 52.6 -26.3 -116.0 29

 30 FA573093005 Private pension funds 25.9 -15.8 23.1 28.6 33.6 7.0 27.5 46.0 20.2 30

 31 FA223093005 State and local govt. retirement funds 8.1 1.8 43.3 18.9 24.7 10.4 9.6 30.9 9.7 31

 32 FA633093005 Money market funds -14.7 -7.0 -6.4 -0.4 -83.3 -27.2 5.3 103.6 -74.3 32

 33 FA653093005 Mutual funds 102.8 -48.7 -127.4 36.0 -71.1 -46.3 25.7 235.6 -133.6 33

 34 FA563093003 Exchange-traded funds -1.4 2.1 11.7 1.6 2.8 8.1 2.4 -6.9 11.8 34

 35 FA403093005 Government-sponsored enterprises -11.0 -6.5 2.6 -39.8 -105.2 31.3 9.6 -94.7 -25.5 35

 36 FA613093005 Finance companies 18.5 -5.7 -12.1 -13.8 -57.7 14.6 -19.9 7.9 -53.9 36

 37 FA643093005 REITs 13.1 10.1 31.4 11.1 -11.5 5.2 38.2 12.4 45.9 37

 38 FA663093005 Brokers and dealers 1.6 -45.8 17.0 37.1 92.8 23.2 56.4 -24.2 91.0 38

 39 FA733093005 Holding companies -62.7 -126.0 115.0 288.0 542.3 613.6 -74.0 69.9 67.9 39

 40 FA903090005 Discrepancy 209.3 -403.4 -266.7 -78.6 -398.5 -223.8 -281.1 589.0 -690.1 40
Transactions

76 Z.1, June 7, 2018

F.7 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FA897005005 All sectors 251.5 -218.9 -283.7 -234.1 -167.8 -622.1 -354.9 208.6 -521.4 1

 2 FA157005005 Household sector -332.3 -195.1 -234.3 -252.5 -414.8 -416.5 155.1 -333.8 -875.0 2

 3 FA107005005 Nonfinancial corporate business 668.2 12.2 53.6 124.3 103.8 -33.4 132.0 294.8 235.7 3

 4 FA317005005 Federal government -60.0 -61.8 -39.7 -54.6 266.7 -40.6 -177.6 -266.8 366.3 4

 5 FA217005005 State and local governments -48.2 -11.2 -43.0 -18.1 -0.1 13.4 -30.4 -55.2 -1.5 5

 6 FA797005005 Domestic financial sectors -85.1 -186.3 -150.2 -196.0 -321.1 47.8 -191.2 -319.6 -502.3 6

 7 FA717005005 Monetary authority 3.9 7.2 -0.2 -8.9 -9.5 -7.9 -10.6 -7.6 2.0 7

 8 FA767005005 U.S.-chartered depository institutions 31.9 -147.2 -43.9 -43.6 12.6 -159.0 293.0 -321.2 -179.7 8

 9 FA757005005 Foreign banking officed in U.S. -47.4 37.7 -35.6 -21.2 30.2 46.8 -104.0 -57.6 67.0 9

 10 FA747005005 Banks in U.S.-affiliated areas -0.8 0.3 0.1 -0.5 -0.1 -0.4 -0.5 -1.0 -0.7 10

 11 FA477005005 Credit unions -2.2 2.0 2.2 -1.5 -1.2 -1.7 -0.9 -2.4 2.4 11

 12 FA517005005 Property-casualty insurance companies 6.7 10.9 40.3 -35.0 -42.5 26.8 -101.6 -22.8 1.1 12

 13 FA547005005 Life insurance companies -23.1 -2.9 -11.0 1.7 -37.4 21.7 -76.0 98.6 -19.1 13

 14 FA657005005 Mutual funds -77.0 -85.9 23.6 1.1 1.5 1.0 1.0 1.0 1.0 14

 15 FA407005005 Government-sponsored enterprises 23.5 -10.9 3.6 16.8 -190.7 143.8 -23.4 137.3 -278.4 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 -19.2 -8.2 -20.5 -11.7 -9.9 34.8 -17.2 -54.4 21.4 17

 18 FA647005005 REITs 30.7 -10.0 -62.4 -10.1 -11.8 5.1 -32.3 -1.4 -48.0 18

 19 FA667005005 Brokers and dealers -15.0 14.9 -12.0 -11.1 -9.8 -9.4 -12.1 -13.0 11.2 19

 20 FA737005005 Holding companies 2.8 5.6 -34.5 -72.1 -52.7 -54.0 -106.6 -75.1 -82.4 20

 21 FA267005005 Rest of the world 108.9 223.4 129.9 162.8 197.7 -192.7 -242.9 889.1 255.3 21

F.8 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA907005005 All types 251.5 -218.9 -283.7 -234.1 -167.8 -622.1 -354.9 208.6 -521.4 1

 2 FA903012005 Treasury currency -1.1 -1.3 -1.0 -0.8 -1.0 -0.8 -0.8 -0.8 -0.5 2

 3 FA903091005 Foreign deposits -92.3 -198.0 -78.7 107.5 260.4 124.5 -51.9 97.0 108.4 3

 4 FA904010005 Net interbank transactions -27.1 3.8 1.3 -0.9 481.9 -458.9 135.4 -161.9 478.7 4

 5 FA902050005 Security repurchase agreements -131.9 118.4 -78.0 -274.4 -494.9 -114.9 -175.2 -312.5 -296.7 5

 6 FA903020005 Mail floats 0.6 -0.2 0.5 0.7 -19.7 -45.9 22.6 45.7 -18.7 6

 7 FA903023005 Federal government 1.1 -0.0 -0.2 -0.4 -17.5 -49.3 21.0 44.2 -14.2 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 0.7 1.1 -2.2 3.3 1.6 1.5 -4.5 9

 10 FA903070005 Trade credit 48.4 18.8 26.0 4.2 17.7 -16.0 20.8 -5.8 -30.4 10

 11 FA903078005 Taxes payable 20.8 -7.9 -29.1 -21.3 -110.5 52.3 -53.3 26.4 -41.3 11

 12 FA903090005 Miscellaneous 209.3 -403.4 -266.7 -78.6 -398.5 -223.8 -281.1 589.0 -690.1 12

 13 FA906000105 Nonfinancial 224.7 250.8 142.0 29.6 96.9 61.5 28.4 -68.4 -30.9 13

 Nonfinancial components (sign reversed):

 14 FA087005005 Statistical discrepancy (NIPA) -229.9 -255.9 -147.2 -37.1 -102.4 -67.0 -34.0 54.8 25.1 14

 15 FA156600075 Contr. for govt. soc. insur., U.S. affiliated areas 5.3 5.2 5.1 5.5 5.5 5.5 5.5 5.6 5.8 15
L

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v

els

Z.1, June 7, 2018 77

L.100 Domestic Nonfinancial Sectors (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL384090005 Total financial assets 96432.2 99989.3 106367.8 114632.5 108198.9 109705.7 111674.1 114632.5 115514.1 1

 2 FL313011005 U.S. official reserve assets 98.0 86.9 86.8 91.0 87.7 90.2 91.8 91.0 93.3 2

 3 FL383091005 Foreign deposits 152.8 118.3 116.3 233.5 113.3 134.0 230.0 233.5 237.8 3

 4 FL383020005 Checkable deposits and currency 2507.7 2743.8 2916.8 2935.3 2740.7 2868.5 2751.0 2935.3 3087.5 4

 5 FL383030005 Time and savings deposits 9261.6 9783.5 10554.0 10834.7 10678.8 10621.3 10779.4 10834.7 11052.6 5

 6 FL383034005 Money market fund shares 1842.9 1885.2 1766.5 1804.0 1731.2 1695.9 1756.6 1804.0 1700.8 6

 7 FL382051005 Security repurchase agreements 198.7 218.2 255.2 236.2 246.3 235.4 224.1 236.2 231.9 7

 8 FL384022005 Debt securities 5682.3 6253.2 6291.3 6113.6 6193.5 6025.9 5987.9 6113.6 6657.2 8

 9 FL383069105 Open market paper 238.5 234.2 222.5 249.9 228.4 240.5 239.3 249.9 260.6 9

 10 FL383061105 Treasury securities 1522.8 1929.3 2220.2 2198.9 2163.3 2224.5 2105.3 2198.9 2454.1 10

 11 FL383061705 Agency- and GSE-backed securities 716.1 917.4 880.5 961.1 907.3 818.2 913.6 961.1 990.6 11

 12 FL383062005 Municipal securities 1748.0 1696.0 1750.7 1691.2 1730.0 1714.7 1680.7 1691.2 1689.1 12

 13 FL383063005 Corporate and foreign bonds 1456.9 1476.3 1217.4 1012.5 1164.5 1028.0 1048.9 1012.5 1262.9 13

 14 FL384023005 Loans 2537.4 2591.4 2704.5 2782.7 2755.2 2764.3 2781.6 2782.7 2794.5 14

 15 FL383069005 Other loans and advances 1088.8 1040.2 1039.3 1017.7 1055.2 1054.3 1034.0 1017.7 999.3 15

 16 FL383065005 Mortgages 513.9 515.5 531.3 541.0 531.1 531.0 534.3 541.0 540.2 16

 17 FL383066005 Consumer credit 934.8 1035.6 1133.9 1224.0 1168.9 1179.1 1213.3 1224.0 1255.0 17

 18 LM383064105 Corporate equities 14524.0 14047.0 15445.6 18195.4 16214.1 16714.2 17280.5 18195.4 17875.9 18

 19 LM383064205 Mutual fund shares 7148.2 7079.7 7570.1 9009.3 8010.3 8271.0 8667.7 9009.3 9056.8 19

 20 FL383070005 Trade receivables 3804.2 3918.5 4222.2 4521.3 4315.1 4424.9 4503.6 4521.3 4655.1 20

 21 FL153040005 Life insurance reserves 1282.8 1309.1 1340.0 1387.3 1355.3 1360.9 1373.8 1387.3 1390.8 21

 22 FL153050005 Pension entitlements 20623.3 20911.0 21836.5 23292.6 22261.4 22549.0 22880.4 23292.6 23315.7 22

 23 FL383078005 Taxes payable 309.2 327.2 340.8 613.0 346.1 351.7 357.0 613.0 583.5 23

 24 LM152090205 Equity in noncorporate business 9842.5 10471.1 11139.4 11821.6 11209.4 11451.1 11611.1 11821.6 11925.2 24

 25 LM103092005 U.S. direct investment abroad 4720.8 4930.7 5208.5 5562.7 5330.1 5410.8 5516.7 5562.7 5456.6 25

 26 FL383090005 Miscellaneous assets 11895.8 13314.4 14573.2 15198.4 14610.2 14736.5 14880.9 15198.4 15398.8 26

 27 FL384190005 Total liabilities 59614.5 62639.2 65735.5 68155.7 66007.0 66506.6 67092.7 68155.7 69124.0 27

 28 LM313111303 U.S. official reserve assets 51.2 48.9 47.5 50.3 47.9 49.1 49.9 50.3 51.3 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 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 30

 31 FL384122005 Debt securities 22835.4 23970.6 25135.7 25883.3 25136.4 25121.9 25625.3 25883.3 26562.6 31

 32 FL103169100 Open market paper 182.0 179.0 180.8 206.7 195.5 194.7 206.1 206.7 222.3 32

 33 FL313161105 Treasury securities 14416.7 15141.1 15983.8 16430.9 15873.8 15798.3 16230.7 16430.9 17046.0 33

 34 FL313161705 Agency- and GSE-backed securities 24.4 24.6 24.5 24.4 24.2 24.4 24.4 24.4 24.7 34

 35 FL383162005 Municipal securities 3796.6 3810.7 3853.2 3863.8 3839.9 3846.3 3821.6 3863.8 3843.7 35

 36 FL103163003 Corporate and foreign bonds 4415.7 4815.3 5093.4 5357.6 5203.0 5258.2 5342.6 5357.6 5425.9 36

 37 FL384123005 Loans 20585.1 21166.6 22009.8 23073.4 22202.9 22504.6 22741.1 23073.4 23184.0 37

 38 FL383168005 Depository institution loans n.e.c. 2168.8 2391.4 2523.6 2602.6 2529.4 2559.7 2564.0 2602.6 2622.6 38

 39 FL383169005 Other loans and advances 1852.7 1744.3 1749.7 1980.4 1844.1 1913.3 1941.6 1980.4 1987.5 39

 40 FL383165005 Mortgages 13249.1 13617.3 14092.3 14657.7 14189.2 14336.3 14481.5 14657.7 14751.5 40

 41 FL153166000 Consumer credit 3314.6 3413.6 3644.2 3832.7 3640.1 3695.4 3754.0 3832.7 3822.4 41

 42 FL383170005 Trade payables 4019.5 4163.2 4489.3 4820.0 4553.8 4640.3 4732.0 4820.0 4919.3 42

 43 FL313140003 Life insurance reserves 51.3 51.1 51.3 51.1 51.0 50.9 51.0 51.1 51.2 43

 44 FL143178005 Taxes payable 160.9 163.1 157.6 373.7 168.0 166.9 165.8 373.7 378.5 44

 45 LM143192005 Foreign direct investment in U.S. 2942.8 3314.6 3681.2 3914.8 3692.7 3798.0 3855.7 3914.8 3964.3 45

 46 FL383190005 Miscellaneous liabilities 8937.9 9730.5 10132.7 9958.7 10123.8 10144.3 9841.5 9958.7 9982.3 46

(1) Sum of domestic nonfinancial sectors shown on tables L.101 through L.107.
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L.101 Households and Nonprofit Organizations (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL154090005 Total financial assets 69303.4 70782.0 74892.4 81234.6 76690.9 77686.2 79186.1 81234.6 81745.2 1

 2 LM153091003 Foreign deposits 45.6 31.2 25.6 36.5 28.7 30.8 35.2 36.5 38.0 2

 3 FL153020005 Checkable deposits and currency 1153.2 1181.6 1108.8 1151.5 1196.4 1165.9 1076.5 1151.5 1188.3 3

 4 FL153030005 Time and savings deposits 7902.0 8389.0 9085.7 9283.5 9203.0 9130.6 9268.1 9283.5 9492.5 4

 5 FL153034005 Money market fund shares 1032.6 1044.0 1023.1 1053.4 1009.8 982.3 1024.9 1053.4 938.4 5

 6 FL154022005 Debt securities 4055.8 4636.9 4591.9 4320.3 4477.9 4307.2 4255.3 4320.3 4849.0 6

 7 FL153061105 Treasury securities 798.4 1179.2 1400.2 1366.6 1343.3 1421.1 1304.0 1366.6 1625.2 7

 8 FL153061705 Agency- and GSE-backed securities 261.8 500.4 446.5 492.0 470.5 373.8 457.6 492.0 513.9 8

 9 FL153062005 Municipal securities 1709.1 1655.4 1711.6 1641.4 1684.7 1668.4 1631.6 1641.4 1640.3 9

 10 FL153063005 Corporate and foreign bonds 1286.5 1301.8 1033.6 820.4 979.3 843.9 862.0 820.4 1069.6 10

 11 FL154023005 Loans 1063.3 1002.7 998.3 966.5 1012.4 1010.8 985.9 966.5 943.2 11

 12 FL153069005 Other loans and advances (2) 893.2 842.6 841.6 817.5 857.9 856.7 835.1 817.5 796.7 12

 13 FL153065005 Mortgages 122.5 115.1 114.9 112.4 114.1 115.2 113.2 112.4 111.6 13

 14 FL163066223 Consumer credit (student loans) 47.6 44.9 41.9 36.6 40.3 38.9 37.6 36.6 34.9 14

 15 LM153064105 Corporate equities (3) 14315.3 13837.2 15221.4 17949.5 15984.1 16482.4 17043.2 17949.5 17626.5 15

 16 LM153064205 Mutual fund shares 6828.7 6758.5 7240.3 8628.6 7665.3 7917.0 8300.9 8628.6 8676.8 16

 17 FL163070005 Trade receivables 240.7 257.9 276.5 296.2 281.4 286.3 291.2 296.2 300.9 17

 18 FL153040005 Life insurance reserves 1282.8 1309.1 1340.0 1387.3 1355.3 1360.9 1373.8 1387.3 1390.8 18

 19 FL153050005 Pension entitlements (4) 20623.3 20911.0 21836.5 23292.6 22261.4 22549.0 22880.4 23292.6 23315.7 19

 20 FL593073005 Claims of pension fund on sponsor 3480.0 3972.5 4035.4 3857.7 4105.6 4159.8 3845.5 3857.7 3920.0 20

 21 FL153050025 Funded pension entitlements 17143.3 16938.5 17801.1 19434.8 18155.8 18389.2 19034.9 19434.8 19395.7 21

 22 LM152090205 Equity in noncorporate business 9842.5 10471.1 11139.4 11821.6 11209.4 11451.1 11611.1 11821.6 11925.2 22

 23 FL153090005 Miscellaneous assets 917.6 951.7 1004.9 1047.2 1005.8 1011.9 1039.6 1047.2 1059.8 23

 24 FL154190005 Total liabilities 14327.3 14526.2 14978.9 15530.7 15036.0 15202.2 15345.6 15530.7 15574.2 24

 25 FL163162003 Debt securities (municipal securities) 226.9 218.8 215.4 216.9 215.2 218.4 215.3 216.9 218.8 25

 26 FL154123005 Loans 13748.5 13941.1 14383.2 14915.8 14435.1 14593.8 14736.3 14915.8 14951.4 26

 27 FL153165105 Home mortgages (5) 9455.8 9573.4 9777.9 10076.2 9833.1 9911.6 9999.6 10076.2 10110.5 27

 28 FL153166000 Consumer credit 3314.6 3413.6 3644.2 3832.7 3640.1 3695.4 3754.0 3832.7 3822.4 28

 29 FL153168005 Depository institution loans n.e.c. (6) 235.8 280.6 290.2 293.1 285.5 292.5 289.3 293.1 297.1 29

 30 FL153169005 Other loans and advances 514.0 437.4 427.2 462.6 430.9 446.9 444.1 462.6 468.3 30

 31 FL163165505 Commercial mortgages 228.3 236.1 243.7 251.2 245.6 247.5 249.3 251.2 253.1 31

 32 FL163170005 Trade payables 322.1 334.7 349.0 364.8 352.9 356.9 360.8 364.8 368.5 32

 33 FL543077073 Deferred and unpaid life insurance premiums 29.9 31.6 31.3 33.1 32.7 33.1 33.2 33.1 35.5 33

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

 outstandings of nonprofit organizations.

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

(3) Directly held 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, shown on table L.218, line 23.

(6) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).
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L.102 Nonfinancial Business (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL144090005 Total financial assets 22243.3 24049.0 25955.0 27507.4 26231.7 26651.3 27058.6 27507.4 27795.9 1

 2 FL103091003 Foreign deposits 107.2 87.1 90.7 197.0 84.6 103.2 194.8 197.0 199.8 2

 3 FL143020005 Checkable deposits and currency 1017.6 1126.2 1311.5 1455.7 1353.4 1425.6 1427.5 1455.7 1510.3 3

 4 FL143030005 Time and savings deposits 1001.5 1022.0 1089.3 1157.4 1102.7 1122.2 1137.5 1157.4 1172.6 4

 5 FL143034005 Money market fund shares 643.9 668.5 561.5 560.4 538.1 531.4 546.8 560.4 571.1 5

 6 FL102051003 Security repurchase agreements 65.9 79.9 109.5 83.9 99.5 89.4 76.0 83.9 78.6 6

 7 FL144022005 Debt securities 310.0 310.2 305.2 343.0 315.6 331.0 331.6 343.0 353.2 7

 8 FL103069100 Commercial paper 171.9 172.5 160.7 185.2 166.1 178.5 176.4 185.2 195.5 8

 9 FL143061105 Treasury securities 98.9 98.7 106.5 109.7 105.8 107.4 107.6 109.7 110.8 9

 10 FL103061703 Agency- and GSE-backed securities 13.9 12.5 13.8 13.7 13.3 13.6 13.4 13.7 13.7 10

 11 FL143062005 Municipal securities 25.3 26.6 24.3 34.4 30.4 31.5 34.1 34.4 33.2 11

 12 FL144023005 Loans 104.5 109.3 112.3 111.7 111.0 111.4 111.5 111.7 110.6 12

 13 FL143065005 Mortgages 63.5 68.3 69.5 69.8 69.4 69.5 69.4 69.8 69.9 13

 14 FL143066005 Consumer credit 40.9 41.1 42.8 41.8 41.6 41.9 42.1 41.8 40.7 14

 15 LM103064203 Mutual fund shares 234.6 235.7 236.9 276.5 249.1 257.0 267.0 276.5 276.1 15

 16 FL143070005 Trade receivables 3331.3 3410.5 3675.0 3937.7 3761.7 3860.8 3929.0 3937.7 4060.4 16

 17 LM103092005 U.S. direct investment abroad 4720.8 4930.7 5208.5 5562.7 5330.1 5410.8 5516.7 5562.7 5456.6 17

 18 FL143090005 Miscellaneous assets 10706.1 12068.8 13254.8 13821.6 13285.9 13408.4 13520.3 13821.6 14006.4 18

 19 FL144190005 Total liabilities 23018.2 24728.6 26331.7 27699.9 26541.5 26851.2 27134.9 27699.9 28005.7 19

 20 FL104122005 Debt securities 5123.7 5533.5 5828.7 6131.8 5953.3 6015.5 6105.4 6131.8 6213.1 20

 21 FL103169100 Commercial paper 182.0 179.0 180.8 206.7 195.5 194.7 206.1 206.7 222.3 21

 22 FL103162000 Municipal securities 526.0 539.3 554.5 567.6 554.8 562.6 556.7 567.6 564.9 22

 23 FL103163003 Corporate bonds 4415.7 4815.3 5093.4 5357.6 5203.0 5258.2 5342.6 5357.6 5425.9 23

 24 FL144123005 Loans 6820.0 7208.6 7608.8 8139.3 7749.9 7892.9 7986.7 8139.3 8214.2 24

 25 FL143168005 Depository institution loans n.e.c. 1933.0 2110.7 2233.3 2309.5 2243.9 2267.2 2274.7 2309.5 2325.5 25

 26 FL143169005 Other loans and advances 1322.1 1290.0 1304.7 1499.6 1395.4 1448.4 1479.5 1499.6 1500.8 26

 27 FL143165005 Mortgages 3564.9 3807.8 4070.7 4330.3 4110.6 4177.2 4232.6 4330.3 4387.9 27

 28 FL143170005 Trade payables 2625.1 2699.9 2939.4 3187.7 2982.0 3046.0 3115.4 3187.7 3264.2 28

 29 FL143178005 Taxes payable 160.9 163.1 157.6 373.7 168.0 166.9 165.8 373.7 378.5 29

 30 LM143192005 Foreign direct investment in U.S. 2942.8 3314.6 3681.2 3914.8 3692.7 3798.0 3855.7 3914.8 3964.3 30

 31 FL143190005 Miscellaneous liabilities 5345.6 5808.8 6116.0 5952.6 5995.6 5931.9 5906.0 5952.6 5971.4 31

(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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL104090005 Total financial assets 17269.9 18748.3 20325.1 21614.1 20554.1 20902.2 21251.7 21614.1 21832.1 1

 2 FL103091003 Foreign deposits 107.2 87.1 90.7 197.0 84.6 103.2 194.8 197.0 199.8 2

 3 FL103020005 Checkable deposits and currency 770.8 838.1 998.6 1142.7 1042.9 1114.7 1118.5 1142.7 1193.1 3

 4 FL103030003 Time and savings deposits 152.0 144.3 163.5 167.8 162.3 165.6 166.1 167.8 168.2 4

 5 FL103034003 Money market fund shares 558.2 576.8 463.9 457.5 439.6 431.7 446.0 457.5 466.9 5

 6 FL102051003 Security repurchase agreements 65.9 79.9 109.5 83.9 99.5 89.4 76.0 83.9 78.6 6

 7 FL104022005 Debt securities 248.7 244.7 235.5 269.4 245.2 259.6 259.5 269.4 278.7 7

 8 FL103069100 Commercial paper 171.9 172.5 160.7 185.2 166.1 178.5 176.4 185.2 195.5 8

 9 FL103061103 Treasury securities 41.7 37.4 41.3 41.0 40.0 40.7 40.3 41.0 41.2 9

 10 FL103061703 Agency- and GSE-backed securities 13.9 12.5 13.8 13.7 13.3 13.6 13.4 13.7 13.7 10

 11 FL103062003 Municipal securities 21.2 22.3 19.7 29.5 25.7 26.8 29.3 29.5 28.3 11

 12 FL104023005 Loans 70.0 72.4 73.0 70.3 71.4 71.2 71.0 70.3 68.7 12

 13 FL103065003 Mortgages 29.0 31.4 30.3 28.4 29.8 29.3 28.9 28.4 28.0 13

 14 FL103066005 Consumer credit 40.9 41.1 42.8 41.8 41.6 41.9 42.1 41.8 40.7 14

 15 LM103064203 Mutual fund shares 234.6 235.7 236.9 276.5 249.1 257.0 267.0 276.5 276.1 15

 16 FL103070005 Trade receivables 2662.3 2694.4 2913.2 3134.0 2992.6 3081.5 3141.8 3134.0 3246.7 16

 17 LM103092005 U.S. direct investment abroad (1) 4720.8 4930.7 5208.5 5562.7 5330.1 5410.8 5516.7 5562.7 5456.6 17

 18 FL103090005 Miscellaneous assets 7679.3 8844.0 9831.8 10252.3 9836.9 9917.4 9994.3 10252.3 10398.5 18

 19 FL103076005 Insurance receivables 343.3 345.6 352.2 366.1 349.6 355.2 373.1 366.1 368.4 19

 20 FL103092405 Equity in GSEs 0.7 0.8 0.9 1.2 1.1 1.0 1.2 1.2 1.4 20

 21 FL103094105 Investment in finance company subs. 108.8 111.3 98.2 110.8 98.2 102.3 99.9 110.8 112.7 21

 22 FL103093005 Other 7226.5 8386.3 9380.5 9774.2 9388.1 9458.9 9520.2 9774.2 9916.1 22

 23 FL104190005 Total liabilities 16572.1 17889.5 19128.3 20179.2 19280.4 19504.2 19722.1 20179.2 20404.6 23

 24 FL104122005 Debt securities 5123.7 5533.5 5828.7 6131.8 5953.3 6015.5 6105.4 6131.8 6213.1 24

 25 FL103169100 Commercial paper 182.0 179.0 180.8 206.7 195.5 194.7 206.1 206.7 222.3 25

 26 FL103162000 Municipal securities (2) 526.0 539.3 554.5 567.6 554.8 562.6 556.7 567.6 564.9 26

 27 FL103163003 Corporate bonds (1) 4415.7 4815.3 5093.4 5357.6 5203.0 5258.2 5342.6 5357.6 5425.9 27

 28 FL104123005 Loans 2376.7 2459.2 2561.7 2836.2 2659.2 2734.5 2777.6 2836.2 2851.0 28

 29 FL103168005 Depository institution loans n.e.c. 856.0 935.8 985.8 1020.3 991.6 1001.4 1004.5 1020.3 1028.6 29

 30 FL103169005 Other loans and advances (3) 1126.2 1090.3 1102.4 1293.9 1193.4 1246.8 1278.4 1293.9 1294.1 30

 31 FL103165005 Mortgages 394.5 433.2 473.5 522.0 474.3 486.3 494.7 522.0 528.4 31

 32 FL103170005 Trade payables 2088.4 2110.8 2305.4 2515.8 2338.7 2390.3 2449.8 2515.8 2581.1 32

 33 FL103178005 Taxes payable 43.5 42.2 33.5 246.4 43.2 41.5 39.7 246.4 250.5 33

 34 LM103192005 Foreign direct investment in U.S. 2933.6 3302.8 3668.3 3899.0 3679.9 3784.3 3841.7 3899.0 3948.5 34

 35 FL103190005 Miscellaneous liabilities 4006.2 4440.9 4730.7 4550.0 4606.1 4538.1 4507.9 4550.0 4560.5 35

 36 FL573074005 Pension fund contributions payable 76.1 90.8 96.3 102.8 98.5 98.9 100.4 102.8 103.8 36

 37 FL573073005 Claims of pension fund on sponsor 176.7 348.3 328.1 172.0 285.8 254.2 218.7 172.0 231.5 37

 38 FL103193005 Other 3753.4 4001.8 4306.2 4275.3 4221.8 4185.0 4188.8 4275.3 4225.2 38

 Memo:

 39 LM103164103 Market value of equities 22630.0 21521.1 23064.6 26873.4 24265.3 24683.5 25559.5 26873.4 26495.0 39

 40 FL104001005 Total liquid assets (4) 2137.4 2206.7 2298.5 2594.8 2323.1 2421.2 2527.9 2594.8 2661.5 40

 41 FL104150005 Total short-term liabilities (5) 4296.1 4358.1 4607.9 5283.1 4762.4 4874.6 4978.5 5283.1 5376.5 41

 42 FL104001006 Liquid assets/short-term liabilities (percent) 49.75 50.63 49.88 49.11 48.78 49.67 50.78 49.11 49.50 42

 43 FL104140006 Short-term debt/total debt (percent) (6) 28.85 27.59 27.04 28.11 27.64 27.92 28.02 28.11 28.08 43

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

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

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

(4) Sum of lines 2 through 7 and line 15.

(5) Sum of lines 25, 29, 30, 32, and 33. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(6) Short-term debt is the sum of lines 25, 29, and 30. Total debt is the sum of lines 24 and 28.
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L.104 Nonfinancial Noncorporate Business

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL114090005 Total financial assets 4973.4 5300.7 5629.9 5893.3 5677.6 5749.2 5806.9 5893.3 5963.7 1

 2 FL113020005 Checkable deposits and currency 246.8 288.0 312.8 312.9 310.5 311.0 309.0 312.9 317.2 2

 3 FL113030003 Time and savings deposits 849.5 877.7 925.9 989.6 940.4 956.6 971.4 989.6 1004.4 3

 4 FL113034003 Money market fund shares 85.6 91.7 97.5 102.9 98.5 99.8 100.8 102.9 104.2 4

 5 FL114022005 Debt securities 61.2 65.5 69.7 73.6 70.4 71.3 72.0 73.6 74.5 5

 6 FL113061003 Treasury securities 57.2 61.2 65.1 68.7 65.8 66.6 67.3 68.7 69.6 6

 7 FL113062003 Municipal securities 4.0 4.3 4.6 4.8 4.6 4.7 4.7 4.8 4.9 7

 8 FL114023005 Loans 34.5 36.9 39.3 41.4 39.6 40.2 40.6 41.4 41.9 8

 9 FL113065005 Mortgages 34.5 36.9 39.3 41.4 39.6 40.2 40.6 41.4 41.9 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 668.9 716.1 761.7 803.6 769.1 779.3 787.2 803.6 813.7 11

 12 FL113090005 Miscellaneous assets 3026.8 3224.8 3423.0 3569.3 3449.0 3491.0 3526.0 3569.3 3607.9 12

 13 FL113076005 Insurance receivables 128.9 118.8 115.7 119.1 114.9 116.6 120.6 119.1 119.1 13

 14 FL113092405 Equity investment in GSEs (1) 8.5 9.0 9.7 12.3 9.9 10.1 12.2 12.3 12.0 14

 15 FL113093005 Other 2889.4 3097.0 3297.5 3438.0 3324.2 3364.3 3393.2 3438.0 3476.8 15

 16 FL114190005 Total liabilities 6446.1 6839.0 7203.4 7520.7 7261.1 7347.0 7412.8 7520.7 7601.0 16

 17 FL114123005 Loans 4443.3 4749.4 5047.1 5303.1 5090.7 5158.3 5209.1 5303.1 5363.1 17

 18 FL113168005 Depository institution loans n.e.c. 1077.0 1175.0 1247.5 1289.2 1252.3 1265.9 1270.2 1289.2 1296.9 18

 19 FL113169005 Other loans and advances 196.0 199.7 202.3 205.7 202.1 201.6 201.0 205.7 206.7 19

 20 FL113165005 Mortgages 3170.3 3374.7 3597.3 3808.3 3636.3 3690.9 3737.9 3808.3 3859.5 20

 21 FL113170005 Trade payables 536.7 589.1 634.0 671.9 643.4 655.7 665.6 671.9 683.1 21

 22 FL113178003 Taxes payable 117.4 120.8 124.2 127.2 124.7 125.5 126.0 127.2 128.0 22

 23 LM115114005 Foreign direct investment in U.S. 9.2 11.9 12.8 15.8 12.9 13.7 14.0 15.8 15.9 23

 24 FL113193003 Miscellaneous liabilities 1339.4 1367.9 1385.3 1402.6 1389.5 1393.8 1398.1 1402.6 1410.9 24

(1) Equity in the Farm Credit System.
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L.105 General Government (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL364090005 Total financial assets 4885.6 5158.4 5520.4 5890.4 5276.3 5368.2 5429.4 5890.4 5973.0 1

 2 FL313011005 U.S. official reserve assets 98.0 86.9 86.8 91.0 87.7 90.2 91.8 91.0 93.3 2

 3 FL363020005 Checkable deposits and currency 337.0 436.0 496.6 328.1 190.9 276.9 247.0 328.1 388.9 3

 4 FL363030005 Time and savings deposits 358.1 372.6 379.0 393.9 373.1 368.6 373.8 393.9 387.4 4

 5 FL213034003 Money market fund shares 166.4 172.7 182.0 190.2 183.3 182.2 185.0 190.2 191.3 5

 6 FL212051003 Security repurchase agreements 132.8 138.3 145.7 152.4 146.8 146.0 148.2 152.4 153.2 6

 7 FL364022005 Debt securities 1316.6 1306.1 1394.2 1450.3 1400.1 1387.8 1401.1 1450.3 1455.0 7

 8 FL213069103 Open market paper 66.6 61.7 61.9 64.7 62.3 62.0 62.9 64.7 65.0 8

 9 FL213061105 Treasury securities 625.5 651.4 713.6 722.6 714.3 696.1 693.8 722.6 718.1 9

 10 FL363061705 Agency- and GSE-backed securities 440.4 404.5 420.2 455.4 423.5 430.8 442.6 455.4 463.1 10

 11 FL213062003 Municipal securities 13.7 14.0 14.8 15.4 14.9 14.8 15.0 15.4 15.5 11

 12 FL363063005 Corporate and foreign bonds 170.5 174.5 183.8 192.2 185.2 184.1 186.9 192.2 193.2 12

 13 FL364023005 Loans 1369.6 1479.4 1593.9 1704.5 1631.8 1642.1 1684.2 1704.5 1740.7 13

 14 FL363065005 Mortgages 327.9 332.1 346.9 358.8 347.5 346.3 351.7 358.8 358.7 14

 15 FL313066220 Consumer credit 846.2 949.7 1049.3 1145.6 1087.0 1098.3 1133.6 1145.6 1179.4 15

 16 FL313069005 Other loans and advances 195.5 197.6 197.8 200.2 197.2 197.5 198.9 200.2 202.5 16

 17 LM363064105 Corporate equities 208.8 209.8 224.2 245.9 230.1 231.8 237.3 245.9 249.4 17

 18 LM213064203 Mutual fund shares 84.9 85.5 92.9 104.2 95.9 96.9 99.7 104.2 103.9 18

 19 FL363070005 Trade receivables 232.2 250.1 270.7 287.5 272.0 277.8 283.3 287.5 293.8 19

 20 FL363078005 Taxes receivable 309.2 327.2 340.8 613.0 346.1 351.7 357.0 613.0 583.5 20

 21 FL363090005 Miscellaneous assets 272.1 293.9 313.6 329.5 318.4 316.2 321.0 329.5 332.6 21

 22 FL364190005 Total liabilities 22268.9 23384.4 24424.9 24925.1 24429.5 24453.2 24612.2 24925.1 25544.2 22

 23 LM313111303 SDR allocations 51.2 48.9 47.5 50.3 47.9 49.1 49.9 50.3 51.3 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 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25

 26 FL364122005 Debt securities 17484.8 18218.3 19091.6 19534.5 18967.9 18888.0 19304.6 19534.5 20130.7 26

 27 FL313161105 Treasury securities 14416.7 15141.1 15983.8 16430.9 15873.8 15798.3 16230.7 16430.9 17046.0 27

 28 FL313161705 Budget agency securities 24.4 24.6 24.5 24.4 24.2 24.4 24.4 24.4 24.7 28

 29 FL213162005 Municipal securities 3043.7 3052.6 3083.4 3079.3 3069.9 3065.3 3049.5 3079.3 3060.1 29

 30 FL364123005 Loans 16.6 16.9 17.8 18.2 17.9 18.0 18.1 18.2 18.5 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 FL213169203 Other loans and advances 16.6 16.9 17.8 18.2 17.9 18.0 18.1 18.2 18.5 32

 33 FL363170005 Trade payables 1072.3 1128.6 1200.9 1267.5 1218.8 1237.4 1255.7 1267.5 1286.6 33

 34 FL313140003 Insurance reserves 51.3 51.1 51.3 51.1 51.0 50.9 51.0 51.1 51.2 34

 35 FL363190005 Miscellaneous liabilities 3562.3 3890.0 3985.4 3973.0 4095.5 4179.3 3902.3 3973.0 3975.4 35

 Memo:

 36 FL374090005 Total financial assets (consolidated) (2) 4229.9 4476.1 4774.3 5134.2 4529.3 4639.3 4702.5 5134.2 5220.9 36

 37 FL374190005 Total liabilities (consolidated) (2) 21613.2 22702.1 23678.8 24168.9 23682.4 23724.3 23885.3 24168.9 24792.1 37

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

(2) Excludes Treasury securities and municipal securities held by state and local governments (lines 9 and 11) and federal government loans to state and local governments (line 31).
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L.106 Federal Government

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL314090005 Total financial assets 1892.2 2137.8 2333.6 2544.4 2070.1 2178.2 2205.1 2544.4 2619.4 1

 2 FL313011005 U.S. official reserve assets 98.0 86.9 86.8 91.0 87.7 90.2 91.8 91.0 93.3 2

 3 FL313020005 Checkable deposits and currency 226.8 338.1 404.0 232.0 96.8 184.8 162.9 232.0 291.7 3

 4 FL313030003 Time and savings deposits 1.7 1.8 1.5 1.9 1.2 1.3 1.5 1.9 1.9 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 1159.0 1263.7 1366.7 1467.0 1402.9 1414.5 1453.2 1467.0 1501.8 8

 9 FL313069005 Other loans and advances 195.5 197.6 197.8 200.2 197.2 197.5 198.9 200.2 202.5 9

 10 FL313065005 Mortgages 117.2 116.5 119.7 121.2 118.6 118.7 120.7 121.2 119.8 10

 11 FL313066220 Consumer credit (1) 846.2 949.7 1049.3 1145.6 1087.0 1098.3 1133.6 1145.6 1179.4 11

 12 LM313064105 Corporate equities (2) 33.4 33.4 33.3 33.2 33.3 33.2 33.2 33.2 37.2 12

 13 FL313070000 Trade receivables 48.4 61.2 64.9 64.0 63.2 66.0 66.6 64.0 66.0 13

 14 FL313078005 Taxes receivable 165.6 179.2 189.5 458.6 194.3 199.0 203.8 458.6 428.4 14

 15 FL313090005 Miscellaneous assets 158.6 173.0 186.2 196.4 190.2 188.7 191.6 196.4 198.7 15

 16 FL314190005 Total liabilities 16886.1 17645.0 18539.1 19206.4 18607.8 18668.5 18883.8 19206.4 19695.7 16

 17 LM313111303 SDR allocations 51.2 48.9 47.5 50.3 47.9 49.1 49.9 50.3 51.3 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 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 19

 20 FL314122005 Debt securities 14441.1 15165.6 16008.3 16455.3 15898.0 15822.7 16255.1 16455.3 17070.6 20

 21 FL313161105 Treasury securities (3) 14416.7 15141.1 15983.8 16430.9 15873.8 15798.3 16230.7 16430.9 17046.0 21

 22 FL313161205 Marketable 12480.9 13169.0 13880.2 14434.6 13923.0 13965.8 14156.1 14434.6 14894.7 22

 23 FL313161305 Nonmarketable 1935.8 1972.1 2103.6 1996.3 1950.8 1832.5 2074.7 1996.3 2151.3 23

 24 FL313161705 Budget agency securities 24.4 24.6 24.5 24.4 24.2 24.4 24.4 24.4 24.7 24

 25 FL313165403 Loans (multifamily residential mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FL313170005 Trade payables 249.3 265.1 296.2 320.2 303.6 311.7 319.4 320.2 328.3 26

 27 FL313140003 Insurance reserves 51.3 51.1 51.3 51.1 51.0 50.9 51.0 51.1 51.2 27

 28 FL313190005 Miscellaneous liabilities 2062.8 2083.7 2105.4 2299.0 2276.8 2403.5 2177.8 2299.0 2163.8 28

 29 FL343073005 Claims of pension fund on sponsor 1803.7 1817.8 1827.3 2011.8 2001.1 2129.9 1902.3 2011.8 1877.0 29

 30 FL313190015 Other 259.1 265.9 278.1 287.2 275.7 273.6 275.5 287.2 286.8 30

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

 the government purchased from depository institutions and finance companies.

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

(3) Includes marketable and nonmarketable Treasury securities held by the public and Treasury securities held by federal government employee retirement funds.
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L.107 State and Local Governments (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL214090005 Total financial assets 2993.4 3020.6 3186.9 3346.0 3206.2 3189.9 3224.3 3346.0 3353.6 1

 2 FL213020005 Checkable deposits and currency 110.2 97.9 92.6 96.2 94.1 92.2 84.1 96.2 97.2 2

 3 FL213030005 Time and savings deposits 356.3 370.8 377.4 391.9 371.9 367.2 372.3 391.9 385.5 3

 4 FL213034003 Money market fund shares 166.4 172.7 182.0 190.2 183.3 182.2 185.0 190.2 191.3 4

 5 FL212051003 Security repurchase agreements 132.8 138.3 145.7 152.4 146.8 146.0 148.2 152.4 153.2 5

 6 FL214022005 Debt securities 1316.0 1305.6 1393.7 1449.8 1399.6 1387.3 1400.6 1449.8 1454.5 6

 7 FL213069103 Open market paper 66.6 61.7 61.9 64.7 62.3 62.0 62.9 64.7 65.0 7

 8 FL213061105 Treasury securities 625.5 651.4 713.6 722.6 714.3 696.1 693.8 722.6 718.1 8

 9 FL213061703 Agency- and GSE-backed securities 440.4 404.5 420.2 455.4 423.5 430.8 442.6 455.4 463.1 9

 10 FL213062003 Municipal securities 13.7 14.0 14.8 15.4 14.9 14.8 15.0 15.4 15.5 10

 11 FL213063003 Corporate and foreign bonds 170.0 174.0 183.3 191.7 184.7 183.6 186.4 191.7 192.7 11

 12 FL213065005 Loans (mortgages) 210.7 215.6 227.2 237.6 228.9 227.6 231.0 237.6 238.9 12

 13 LM213064103 Corporate equities 175.3 176.4 190.8 212.7 196.7 198.6 204.1 212.7 212.2 13

 14 LM213064203 Mutual fund shares 84.9 85.5 92.9 104.2 95.9 96.9 99.7 104.2 103.9 14

 15 FL213070003 Trade receivables 183.8 189.0 205.8 223.5 208.7 211.8 216.7 223.5 227.8 15

 16 FL213078005 Taxes receivable 143.6 148.0 151.3 154.4 151.9 152.6 153.2 154.4 155.1 16

 17 FL213093003 Miscellaneous assets 113.5 120.9 127.4 133.1 128.3 127.5 129.5 133.1 133.9 17

 18 FL214190005 Total liabilities 5382.8 5739.4 5885.8 5718.7 5821.7 5784.7 5728.4 5718.7 5848.4 18

 19 FL213162005 Debt securities (municipal securities) 3043.7 3052.6 3083.4 3079.3 3069.9 3065.3 3049.5 3079.3 3060.1 19

 20 FL213162400 Short-term (2) 38.9 33.0 30.2 35.1 30.0 24.5 32.9 35.1 36.2 20

 21 FL213162200 Long-term 3004.8 3019.6 3053.1 3044.2 3039.9 3040.8 3016.6 3044.2 3023.8 21

 22 FL213169203 Loans (U.S. government loans) 16.6 16.9 17.8 18.2 17.9 18.0 18.1 18.2 18.5 22

 23 FL213170003 Trade payables 823.0 863.5 904.7 947.2 915.2 925.7 936.3 947.2 958.3 23

 24 FL223073045 Claims of pension fund on sponsor (3) 1499.5 1806.4 1880.0 1674.0 1818.7 1775.7 1724.5 1674.0 1811.6 24

(1) Data for state and local government employee retirement funds are shown on table L.120.

(2) Debt with original maturity of 13 months or less.

(3) Included in miscellaneous liabilities.
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L.108 Domestic Financial Sectors (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL794090005 Total financial assets 86272.2 86227.6 89965.5 96857.2 91977.0 93364.2 95015.2 96857.2 97016.5 1

 2 FL713011005 U.S. official reserve assets 32.0 30.5 30.4 32.2 30.9 31.6 32.0 32.2 33.1 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 46.3 47.6 48.5 49.4 48.8 49.0 49.2 49.4 49.5 4

 5 FL633091003 Foreign deposits 24.5 11.1 1.9 3.7 3.6 3.3 5.5 3.7 1.2 5

 6 FL794010005 Net interbank assets 2428.1 2039.5 1829.4 2025.4 2219.0 2049.7 2138.4 2025.4 2174.6 6

 7 FL793020005 Checkable deposits and currency 391.8 379.9 424.6 428.2 414.4 403.8 447.6 428.2 390.2 7

 8 FL793030005 Time and savings deposits 688.0 591.2 264.9 287.0 284.6 282.6 301.5 287.0 273.9 8

 9 FL793034005 Money market fund shares 776.5 761.9 853.3 930.2 827.4 832.9 881.9 930.2 981.2 9

 10 FL792050005 Federal funds and security repos 2481.4 2538.5 2606.8 2892.5 2608.7 2809.6 2763.2 2892.5 2677.1 10

 11 FL794022005 Debt securities 23103.5 23327.2 24532.0 25542.3 24684.2 24716.3 25269.3 25542.3 25769.7 11

 12 FL793069175 Open market paper 583.9 603.0 521.5 579.1 574.4 545.8 616.5 579.1 631.3 12

 13 FL793061105 Treasury securities 6736.3 7065.6 7757.3 7921.7 7631.4 7402.2 7802.4 7921.7 8272.8 13

 14 FL793061705 Agency- and GSE-backed securities 6332.7 6335.2 6652.1 6896.2 6696.3 6858.8 6839.9 6896.2 6860.5 14

 15 FL793062005 Municipal securities 1968.0 2027.7 2008.2 2071.1 2014.5 2033.1 2040.6 2071.1 2054.1 15

 16 FL793063005 Corporate and foreign bonds 7482.6 7295.8 7592.7 8074.2 7767.6 7876.4 7969.9 8074.2 7951.0 16

 17 FL794023005 Loans 20225.5 20815.8 21658.3 22633.6 21769.6 22103.5 22315.0 22633.6 22676.6 17

 18 FL793068005 Depository institution loans n.e.c. 2814.9 3116.0 3288.0 3387.0 3288.4 3336.8 3356.2 3387.0 3416.9 18

 19 FL793069005 Other loans and advances 2064.2 1984.6 2062.6 2281.7 2114.2 2207.3 2235.5 2281.7 2246.5 19

 20 FL793065005 Mortgages 12966.6 13337.2 13797.5 14356.2 13895.9 14043.0 14182.7 14356.2 14445.9 20

 21 FL793066005 Consumer credit 2379.8 2378.0 2510.3 2608.7 2471.2 2516.3 2540.7 2608.7 2567.4 21

 22 LM793064105 Corporate equities 16294.4 16040.2 17201.4 20556.8 18148.9 18759.1 19558.0 20556.8 20278.1 22

 23 LM793064205 Mutual fund shares 5385.7 5217.0 5358.7 6079.8 5597.8 5741.4 5896.3 6079.8 6015.8 23

 24 FL793070005 Trade receivables 135.2 144.1 144.6 154.2 152.0 155.9 157.1 154.2 163.5 24

 25 FL793040005 Life insurance reserves 194.6 205.2 214.8 225.2 217.2 219.5 222.7 225.2 227.4 25

 26 LM793092005 U.S. direct investment abroad 912.3 853.0 880.3 942.5 893.7 901.6 905.2 942.5 931.9 26

 27 FL793090005 Miscellaneous assets 13147.3 13219.6 13910.5 14069.0 14071.1 14299.3 14067.1 14069.0 14367.3 27

 28 FL794190005 Total liabilities 80841.2 80829.3 83917.4 89871.2 85689.9 86925.1 88365.6 89871.2 90063.5 28

 29 FL794110005 Net interbank liabilities 2627.3 2183.1 1833.8 2168.1 2321.4 2125.7 2246.8 2168.1 2291.2 29

 30 FL793120005 Checkable deposits and currency 3575.5 3830.8 4109.9 4214.4 3950.3 4087.3 4035.0 4214.4 4351.8 30

 31 FL703130005 Time and savings deposits 10448.7 10854.9 11372.0 11692.4 11535.2 11494.8 11670.3 11692.4 11898.6 31

 32 FL634090005 Money market fund shares 2724.6 2754.7 2728.1 2847.3 2664.3 2633.4 2747.7 2847.3 2793.0 32

 33 FL792150005 Federal funds and security repos 2953.5 2927.0 2905.8 2976.0 2836.4 3012.3 2887.7 2976.0 2721.9 33

 34 FL794122005 Debt securities 13257.4 13193.7 13529.0 13888.8 13568.0 13691.4 13819.9 13888.8 13913.3 34

 35 FL793169175 Open market paper 310.7 270.2 273.5 238.1 278.5 259.2 248.2 238.1 258.7 35

 36 FL423161705 Agency- and GSE-backed securities 7924.0 8144.4 8496.1 8842.8 8547.3 8642.6 8734.5 8842.8 8849.7 36

 37 FL793163005 Corporate and foreign bonds 5022.6 4779.1 4759.4 4808.0 4742.2 4789.6 4837.2 4808.0 4804.9 37

 38 FL794123005 Loans 1934.2 1978.4 2051.6 2068.0 2029.4 2078.6 2070.3 2068.0 2011.8 38

 39 FL793168005 Depository institution loans n.e.c. 265.8 288.7 291.5 302.9 295.0 300.3 305.7 302.9 306.8 39

 40 FL793169005 Other loans and advances 1437.0 1454.2 1523.6 1525.5 1496.6 1540.6 1529.0 1525.5 1470.4 40

 41 FL643165005 Mortgages 231.4 235.4 236.5 239.5 237.8 237.7 235.5 239.5 234.6 41

 42 LM653164205 Mutual fund shares 13150.6 12897.2 13615.6 15899.0 14327.1 14795.3 15347.0 15899.0 15874.3 42

 43 FL663170003 Trade payables 17.9 26.3 36.7 32.5 35.3 32.2 34.6 32.5 34.5 43

 44 FL543140005 Life insurance reserves 1426.1 1463.1 1503.5 1561.4 1521.5 1529.6 1545.5 1561.4 1567.0 44

 45 FL153050005 Pension entitlements 20623.3 20911.0 21836.5 23292.6 22261.4 22549.0 22880.4 23292.6 23315.7 45

 46 FL793178005 Taxes payable 105.0 97.5 100.6 163.9 92.9 95.0 106.9 163.9 151.2 46

 47 LM793192005 Foreign direct investment in U.S. 597.8 615.1 710.5 744.2 726.7 741.1 749.4 744.2 744.2 47

 48 FL793190005 Miscellaneous liabilities 7399.2 7096.4 7583.8 8322.7 7819.9 8059.6 8224.1 8322.7 8394.9 48

 Memo:

 49 LM793164105 Market value of corporate equities 7338.4 7310.9 8354.3 9887.4 8706.3 9033.2 9324.1 9887.4 9744.8 49

 50 LM662090205 Equity in noncorporate business 40.6 45.4 61.0 63.3 62.6 61.8 63.0 63.3 61.1 50

(1) Sum of financial sectors 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL714090005 Total financial assets 4555.4 4542.1 4509.6 4506.0 4529.6 4522.5 4516.7 4506.0 4454.4 1

 2 FL713011005 U.S. official reserve assets 32.0 30.5 30.4 32.2 30.9 31.6 32.0 32.2 33.1 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 46.3 47.6 48.5 49.4 48.8 49.0 49.2 49.4 49.5 4

 5 FL713022003 Federal Reserve float (2) -0.6 -0.0 -0.8 -0.9 -0.6 -0.6 -0.7 -0.9 -0.7 5

 6 FL713068705 Interbank loans (2) 0.1 0.1 0.1 0.1 0.0 0.1 0.2 0.1 0.0 6

 7 FL713068703 Discount window (3) 0.1 0.1 0.1 0.1 0.0 0.1 0.2 0.1 0.0 7

 8 FL763069143 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FL712051000 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL714022005 Debt securities 4236.9 4242.0 4221.2 4223.5 4246.8 4243.5 4240.3 4223.5 4183.7 10

 11 FL713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL713061103 Treasury securities 2461.4 2461.6 2463.6 2454.2 2464.4 2465.1 2465.4 2454.2 2425.0 12

 13 FL713061113 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL713061125 Other Treasury securities 2461.4 2461.6 2463.6 2454.2 2464.4 2465.1 2465.4 2454.2 2425.0 14

 15 FL713061705 Agency- and GSE-backed securities 1775.5 1780.4 1757.6 1769.3 1782.5 1778.4 1774.9 1769.3 1758.8 15

 16 FL713061903 Mortgage-backed securities 1736.8 1747.5 1741.4 1764.9 1769.1 1770.3 1768.2 1764.9 1754.4 16

 17 FL713061703 Other agency- and GSE-backed securities 38.7 32.9 16.2 4.4 13.3 8.1 6.8 4.4 4.4 17

 18 FL713068005 Loans (depository institution loans n.e.c.) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FL713064103 Corporate equities (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL713090005 Miscellaneous assets 235.5 216.8 205.0 196.5 198.5 193.7 190.5 196.5 183.6 20

 21 FL713091103 Nonofficial foreign currencies (7) 1.5 1.0 5.6 12.1 5.1 3.1 3.6 12.1 5.0 21

 22 FL713093005 Other 233.9 215.8 199.5 184.4 193.4 190.6 186.9 184.4 178.5 22

 23 FL714190005 Total liabilities 4526.8 4532.1 4499.6 4496.0 4519.6 4512.5 4506.7 4496.0 4446.9 23

 24 FL713113003 Depository institution reserves 2352.8 1965.2 1754.2 1949.0 2149.3 1979.4 2070.4 1949.0 2107.1 24

 25 FL703025005 Vault cash of depository institutions 75.7 74.2 76.0 77.2 70.2 70.8 68.5 77.2 68.2 25

 26 FL713120005 Checkable deposits and currency 1554.3 1721.9 1881.1 1819.7 1601.8 1707.7 1710.0 1819.7 1884.9 26

 27 FL713123005 Due to federal government 223.7 333.7 399.4 229.1 92.5 181.3 159.5 229.1 290.0 27

 28 FL713123023 Treasury cash holdings 0.2 0.3 0.2 0.2 0.3 0.2 0.2 0.2 0.3 28

 29 FL713123030 Treasury general deposit account 223.5 333.4 399.2 228.9 92.2 181.1 159.3 228.9 289.6 29

 30 FL713123043 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FL713122605 Due to rest of the world 5.3 5.2 5.2 5.3 5.2 5.2 5.2 5.3 5.3 31

 32 FL713124005 Due to government-sponsored enterprises 58.1 32.2 43.1 44.4 38.3 30.0 34.5 44.4 21.1 32

 33 FL713125005 Currency outside banks 1267.3 1350.7 1433.5 1540.8 1465.8 1491.1 1510.7 1540.8 1568.5 33

 34 FL712151003 Security repurchase agreements 509.8 712.4 725.2 564.0 600.3 650.0 556.8 564.0 273.4 34

 35 FL712151103 Reverse repurchase agreement operations (8) 396.7 474.6 468.4 319.6 346.9 398.9 316.1 319.6 32.4 35

 36 FL712151115 Other 113.1 237.8 256.9 244.4 253.4 251.1 240.7 244.4 241.0 36

 37 FL713190005 Miscellaneous liabilities 34.2 58.4 63.1 86.2 98.0 104.7 101.0 86.2 113.4 37

 38 FL713164003 Federal Reserve Bank stock 28.6 29.5 30.4 31.4 30.6 30.8 31.2 31.4 31.7 38

 39 FL713193005 Other 5.6 28.9 32.6 54.8 67.4 73.8 69.8 54.8 81.7 39

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table L.203 as part of line 24.

(3) Federal Reserve loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Fund Liquidity Facility (AMLF).

(5) Loans extended to the financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), recorded as part of the household sector;

 to broker and dealers through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF; and to the funding corporations Maiden Lane LLC, Maiden Lane II LLC,

 AIG, Maiden Lane III LLC, and the Commercial Paper Funding Facility LLC.

(6) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(7) Reciprocal currency arrangements (swap lines) with foreign central banks.

(8) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).
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L.110 Private Depository Institutions (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL704090005 Total financial assets 16775.8 17271.2 18000.0 18854.5 18390.1 18446.7 18650.6 18854.5 19036.6 1

 2 FL703025005 Vault cash 75.7 74.2 76.0 77.2 70.2 70.8 68.5 77.2 68.2 2

 3 FL713113003 Reserves at Federal Reserve 2352.8 1965.2 1754.2 1949.0 2149.3 1979.4 2070.4 1949.0 2107.1 3

 4 FL702050005 Federal funds and security repos 403.2 428.4 411.6 492.3 387.2 436.5 428.5 492.3 504.6 4

 5 FL704022005 Debt securities 3662.1 3865.4 4136.4 4286.2 4202.4 4180.8 4210.5 4286.2 4265.4 5

 6 FL703069175 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 6

 7 FL703061105 Treasury securities 499.8 536.6 642.1 621.9 647.4 602.9 597.8 621.9 624.4 7

 8 FL703061705 Agency- and GSE-backed securities 1970.0 2125.2 2256.5 2423.1 2300.4 2337.2 2373.8 2423.1 2426.4 8

 9 FL703062005 Municipal securities 458.0 505.4 556.0 576.6 561.0 564.2 566.9 576.6 560.4 9

 10 FL703063005 Corporate and foreign bonds 734.2 698.2 681.9 664.7 693.7 676.4 672.0 664.7 654.0 10

 11 FL704023005 Loans 8991.9 9665.7 10270.3 10704.4 10258.9 10433.3 10537.6 10704.4 10736.5 11

 12 FL703068005 Depository institution loans n.e.c. 2814.9 3116.0 3288.0 3387.0 3288.4 3336.8 3356.2 3387.0 3416.9 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 4531.1 4779.1 5070.0 5282.5 5096.6 5177.9 5231.1 5282.5 5313.5 14

 15 FL703066005 Consumer credit 1645.9 1770.6 1912.4 2034.9 1874.0 1918.6 1950.3 2034.9 2006.2 15

 16 LM703064105 Corporate equities 108.5 100.0 106.5 131.9 112.0 116.0 122.7 131.9 129.4 16

 17 LM703064205 Mutual fund shares 61.8 56.8 60.0 69.6 62.6 62.8 65.8 69.6 62.5 17

 18 FL763040005 Life insurance reserves 149.6 156.2 161.8 168.2 163.2 164.5 166.7 168.2 169.4 18

 19 LM763092000 U.S. direct investment abroad 256.2 239.3 227.1 237.2 230.3 229.6 228.1 237.2 237.1 19

 20 FL703090005 Miscellaneous assets 714.0 719.9 796.1 738.6 753.9 773.0 751.7 738.6 756.4 20

 21 FL704190005 Total liabilities 17305.6 17795.1 18488.3 19339.3 18877.8 18949.5 19204.8 19339.3 19481.8 21

 22 FL704110005 Net interbank liabilities 198.9 143.6 3.6 141.9 101.9 75.5 107.9 141.9 115.9 22

 23 FL703127005 Checkable deposits 2021.2 2108.9 2228.8 2394.7 2348.5 2379.6 2325.0 2394.7 2467.0 23

 24 FL703130005 Time and savings deposits 10448.7 10854.9 11372.0 11692.4 11535.2 11494.8 11670.3 11692.4 11898.6 24

 25 FL702150005 Federal funds and security repos 607.5 603.4 635.9 732.1 638.6 678.6 711.7 732.1 683.0 25

 26 FL704122005 Debt securities 263.5 254.2 232.8 219.8 229.8 225.2 228.0 219.8 218.4 26

 27 FL703169175 Open market paper 54.5 53.6 49.0 49.7 49.4 48.7 50.4 49.7 48.9 27

 28 FL763163005 Corporate bonds 209.0 200.6 183.7 170.1 180.4 176.5 177.6 170.1 169.5 28

 29 FL703169005 Loans (other loans and advances) 503.6 543.3 613.1 641.3 570.8 616.2 630.1 641.3 603.6 29

 30 FL763178003 Taxes payable (net) 80.0 71.9 72.6 104.4 65.3 69.9 80.8 104.4 90.6 30

 31 LM753192003 Foreign direct investment in U.S. 198.0 193.4 190.7 203.6 195.2 193.9 195.0 203.6 203.9 31

 32 FL703190005 Miscellaneous liabilities 2984.3 3021.3 3138.7 3209.0 3192.6 3215.9 3255.9 3209.0 3200.8 32

 33 FL763194735 Investment by holding companies 2133.2 2175.3 2285.8 2377.1 2329.5 2356.5 2401.3 2377.1 2346.6 33

 34 FL753194503 Investment by funding corporations 103.2 105.4 99.8 79.7 110.1 89.1 81.5 79.7 90.7 34

 35 FL703193005 Other 747.9 740.6 753.1 752.2 752.9 770.2 773.1 752.2 763.6 35

 Memo:

 36 FL763066303 Consumer leases not included above (2) 8.6 8.0 9.3 11.2 9.7 10.7 11.0 11.2 11.4 36

 37 FL703139105 Uninsured deposits (3) 5448.2 5592.4 5760.1 5992.5 5878.0 5856.3 5930.4 5992.5 6014.5 37

(1) U.S.-chartered depository institutions (L.111), foreign banking offices (L.112), banks in U.S.-affiliated areas (L.113), and credit unions (L.114).

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(3) Includes checkable deposits (line 23) and time and savings deposits (line 24) not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
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88 Z.1, June 7, 2018

L.111 U.S.-Chartered Depository Institutions

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL764090005 Total financial assets 13566.3 14110.3 14839.7 15333.0 15030.9 15072.1 15171.6 15333.0 15415.4 1

 2 FL763025000 Vault cash 75.6 74.2 76.0 77.2 70.2 70.8 68.5 77.2 68.2 2

 3 FL763013005 Reserves at Federal Reserve 1402.7 1204.9 1114.6 1161.9 1323.1 1193.5 1207.8 1161.9 1228.0 3

 4 FL762050005 Federal funds and security repos 185.0 209.8 218.5 222.5 190.0 224.5 188.1 222.5 241.0 4

 5 FL764022005 Debt securities 3153.9 3368.3 3644.7 3755.1 3698.5 3673.2 3720.8 3755.1 3739.7 5

 6 FL763069175 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FL763061100 Treasury securities 420.4 435.2 531.2 488.0 526.8 479.0 481.5 488.0 487.4 7

 8 FL763061705 Agency- and GSE-backed securities 1760.3 1924.7 2061.5 2210.1 2098.2 2134.5 2178.5 2210.1 2213.9 8

 9 FL763061803 Residential mortgage pass-through securities 979.7 1129.7 1271.3 1394.7 1298.9 1333.8 1371.1 1394.7 1390.6 9

 10 FL763061303 Commercial mortgage pass-through securities 42.4 61.5 83.1 100.9 86.8 89.8 94.7 100.9 102.9 10

 11 FL763061603 Residential CMOs and other structured MBS 444.0 443.9 421.5 418.8 420.4 417.7 419.3 418.8 422.5 11

 12 FL763061403 Commercial CMOs and other structured MBS 81.4 96.7 125.2 138.7 129.3 132.0 134.8 138.7 142.1 12

 13 FL763061795 Other 212.7 193.0 160.4 157.0 162.8 161.2 158.6 157.0 155.8 13

 14 FL763062000 Municipal securities 451.5 498.9 549.2 570.2 554.2 557.3 560.6 570.2 554.4 14

 15 FL763063005 Corporate and foreign bonds 521.7 509.5 502.9 486.8 519.3 502.4 500.2 486.8 484.1 15

 16 FL763063673 Priv. residential mortgage pass-through securities 22.7 14.7 9.5 5.0 9.0 7.9 6.5 5.0 3.9 16

 17 FL763063653 Priv. commercial mortgage pass-through securities 5.6 3.0 3.5 3.0 5.0 4.3 3.2 3.0 2.5 17

 18 FL763063663 Priv. residential CMOs and other structured MBS 68.2 56.2 44.8 37.7 44.5 42.7 40.3 37.7 35.7 18

 19 FL763063693 Priv. commercial CMOs and other structured MBS 42.7 53.3 42.8 36.1 39.4 37.8 37.3 36.1 36.5 19

 20 FL763063095 Other 382.6 382.3 402.3 405.0 421.5 409.7 412.9 405.0 405.4 20

 21 FL764023005 Loans 7632.0 8148.6 8639.7 8989.4 8615.0 8758.4 8841.6 8989.4 9009.0 21

 22 FL763068005 Depository institution loans n.e.c. 2198.2 2424.0 2570.1 2674.4 2572.6 2622.9 2639.2 2674.4 2713.8 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 4090.7 4296.3 4537.6 4698.5 4555.3 4621.2 4661.0 4698.5 4721.5 24

 25 FL763066000 Consumer credit 1343.1 1428.3 1532.1 1616.5 1487.1 1514.3 1541.4 1616.5 1573.7 25

 26 LM763064105 Corporate equities 108.5 100.0 106.5 131.9 112.0 116.0 122.7 131.9 129.4 26

 27 LM763064203 Mutual fund shares 59.7 54.9 58.0 67.2 60.6 60.7 63.5 67.2 60.1 27

 28 FL763040005 Life insurance reserves 149.6 156.2 161.8 168.2 163.2 164.5 166.7 168.2 169.4 28

 29 LM763092000 U.S. direct investment abroad 256.2 239.3 227.1 237.2 230.3 229.6 228.1 237.2 237.1 29

 30 FL763090005 Miscellaneous assets 542.9 554.1 592.8 522.5 568.0 580.9 563.7 522.5 533.5 30

 31 FL764190005 Total liabilities 14173.1 14686.6 15432.4 15944.3 15620.4 15666.9 15847.2 15944.3 15975.5 31

 32 FL764110005 Net interbank liabilities 161.3 119.1 29.5 52.1 76.1 72.7 56.6 52.1 -30.5 32

 33 FL713022003 Federal Reserve float -0.6 -0.0 -0.8 -0.9 -0.6 -0.6 -0.7 -0.9 -0.7 33

 34 FL713068705 Borrowing from Federal Reserve banks 0.1 0.1 0.1 0.1 0.0 0.1 0.2 0.1 0.0 34

 35 FL764112005 To domestic banks -28.9 -35.7 -40.0 3.1 -0.4 -8.6 -4.5 3.1 6.2 35

 36 FL764116005 To foreign banks 190.6 154.8 70.3 49.7 77.1 81.7 61.7 49.7 -36.0 36

 37 FL763127005 Checkable deposits 1716.1 1766.4 1879.6 1995.8 1969.0 1990.3 1943.0 1995.8 2059.0 37

 38 FL763123005 Federal government 2.5 2.3 2.2 1.9 2.2 2.0 2.0 1.9 2.3 38

 39 FL763129205 Private domestic 1657.0 1720.4 1818.8 1935.2 1906.3 1930.4 1870.9 1935.2 1992.2 39

 40 FL763122605 Rest of the world 56.5 43.6 58.7 58.7 60.5 57.9 70.0 58.7 64.5 40

 41 FL763130005 Time and savings deposits 8509.1 8993.2 9574.0 9822.1 9630.1 9569.8 9741.7 9822.1 9964.8 41

 42 FL762150005 Federal funds and security repos 236.2 196.8 162.6 170.5 158.5 162.9 166.9 170.5 157.0 42

 43 FL764122005 Debt securities 263.5 254.2 232.8 219.8 229.8 225.2 228.0 219.8 218.4 43

 44 FL763169175 Open market paper 54.5 53.6 49.0 49.7 49.4 48.7 50.4 49.7 48.9 44

 45 FL763163005 Corporate bonds 209.0 200.6 183.7 170.1 180.4 176.5 177.6 170.1 169.5 45

 46 FL763169305 Loans (other loans and advances) 468.2 498.7 566.4 586.5 525.7 569.6 579.5 586.5 557.1 46

 47 FL763178003 Taxes payable (net) 80.0 71.9 72.6 104.4 65.3 69.9 80.8 104.4 90.6 47

 48 FL763190005 Miscellaneous liabilities 2738.7 2786.4 2914.9 2993.3 2965.9 3006.7 3050.5 2993.3 2959.1 48

 49 FL763194735 Investment by holding companies 2133.2 2175.3 2285.8 2377.1 2329.5 2356.5 2401.3 2377.1 2346.6 49

 50 FL763193005 Other 605.5 611.1 629.0 616.1 636.4 650.1 649.2 616.1 612.5 50

 Memo:

 51 FL763066303 Consumer leases not included above (1) 8.6 8.0 9.3 11.2 9.7 10.7 11.0 11.2 11.4 51

 52 FL763139105 Uninsured deposits (2) 4186.4 4428.4 4726.6 4888.4 4747.7 4702.1 4776.5 4888.4 4884.7 52

(1) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(2) Includes checkable deposits (line 37) and time and savings deposits (line 41) not insured by the Federal Deposit Insurance Corporation.
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L.112 Foreign Banking Offices in U.S. (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL754090005 Total financial assets 2036.1 1903.0 1801.5 2083.6 1952.2 1958.8 2058.8 2083.6 2119.2 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 888.8 690.3 567.8 710.1 728.9 704.6 782.5 710.1 777.0 3

 4 FL752050005 Federal funds and security repos 218.1 218.5 193.1 269.7 197.1 211.9 240.2 269.7 263.4 4

 5 FL754022005 Debt securities 274.3 265.3 276.0 303.3 266.2 270.0 259.8 303.3 293.0 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 FL753061103 Treasury securities 56.5 69.8 94.0 99.5 88.4 91.4 84.3 99.5 99.3 7

 8 FL753061703 Agency- and GSE-backed securities 20.5 23.1 21.1 43.6 21.9 22.9 21.3 43.6 41.5 8

 9 FL753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL753063005 Corporate and foreign bonds 197.3 172.4 160.8 160.2 155.9 155.7 154.2 160.2 152.3 10

 11 FL754023005 Loans 583.5 670.5 701.3 697.4 699.5 701.5 699.1 697.4 687.9 11

 12 FL753068005 Depository institution loans n.e.c. 545.9 619.2 634.2 620.7 631.1 628.9 625.9 620.7 609.9 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 37.6 51.3 67.2 76.7 68.4 72.6 73.2 76.7 78.0 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 71.3 58.4 63.3 103.2 60.5 70.7 77.1 103.2 97.9 16

 17 FL754190005 Total liabilities 2076.4 1974.3 1828.3 2097.4 1984.2 2003.3 2075.7 2097.4 2146.7 17

 18 FL754110005 Net interbank liabilities 90.2 71.5 22.0 133.5 65.8 46.9 94.3 133.5 184.0 18

 19 FL754116005 To foreign banks 66.9 43.2 -12.8 107.5 28.4 10.0 65.0 107.5 163.9 19

 20 FL754112005 To domestic banks 23.3 28.3 34.8 26.1 37.4 36.9 29.3 26.1 20.1 20

 21 FL753127005 Checkable deposits 137.8 154.1 151.3 185.4 170.4 176.9 174.0 185.4 178.6 21

 22 FL753130005 Time and savings deposits 1056.3 934.9 794.3 820.0 865.6 881.4 883.7 820.0 848.9 22

 23 FL752150005 Federal funds and security repos 371.3 406.6 473.3 561.6 480.0 515.6 544.8 561.6 526.0 23

 24 FL753169603 Debt securities (open market paper) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 LM753192003 Foreign direct investment in U.S. 198.0 193.4 190.7 203.6 195.2 193.9 195.0 203.6 203.9 25

 26 FL753190005 Miscellaneous liabilities 222.8 213.7 196.6 193.2 207.2 188.5 183.8 193.2 205.2 26

 27 FL753194503 Investment by funding corporations 103.2 105.4 99.8 79.7 110.1 89.1 81.5 79.7 90.7 27

 28 FL753193005 Other 119.6 108.3 96.9 113.5 97.1 99.4 102.3 113.5 114.5 28

 Memo:

 29 FL753139105 Uninsured deposits (3) 1194.1 1089.1 945.6 1005.4 1036.0 1058.4 1057.8 1005.4 1027.5 29

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.

(3) All checkable deposits (line 21) and time and savings deposits (line 22) are considered uninsured according to the Federal Deposit Insurance Act.
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90 Z.1, June 7, 2018

L.113 Banks in U.S.-Affiliated Areas (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL744090005 Total financial assets 95.9 92.3 99.2 95.7 99.6 100.4 92.5 95.7 98.2 1

 2 FL743013003 Reserves at Federal Reserve 4.0 3.8 4.7 7.8 5.5 6.5 7.7 7.8 9.4 2

 3 FL744022003 Debt securities 11.1 11.9 13.2 14.9 14.1 14.3 13.5 14.9 16.0 3

 4 FL743061103 Treasury securities 1.3 2.4 3.2 5.1 4.0 4.3 3.9 5.1 6.3 4

 5 FL743061703 Agency- and GSE-backed securities 1.7 1.8 1.5 1.5 1.5 1.4 1.4 1.5 1.7 5

 6 FL743062003 Municipal securities 2.7 2.1 1.7 1.3 1.7 1.6 1.3 1.3 1.3 6

 7 FL743063005 Corporate and foreign bonds 5.3 5.6 6.7 7.0 6.9 6.9 6.9 7.0 6.7 7

 8 FL744023003 Loans 47.4 41.7 39.8 39.2 38.9 38.8 38.3 39.2 38.6 8

 9 FL743068005 Depository institution loans n.e.c. 17.1 15.1 13.9 13.1 13.4 13.6 13.0 13.1 13.1 9

 10 FL743065103 Home mortgages 17.4 15.8 15.1 15.4 14.9 14.7 14.6 15.4 15.0 10

 11 FL743065505 Commercial mortgages 13.0 10.8 10.7 10.6 10.6 10.5 10.7 10.6 10.5 11

 12 FL743093005 Miscellaneous assets 33.4 34.9 41.6 33.9 41.2 40.8 33.0 33.9 34.2 12

 13 FL744190005 Total liabilities 86.3 83.0 89.9 86.0 90.4 91.1 83.0 86.0 88.3 13

 14 FL744110005 Net interbank liabilities -1.3 -1.3 -1.3 -1.3 -1.3 -1.2 -1.7 -1.3 -1.2 14

 15 FL743127003 Checkable deposits 33.4 35.0 40.8 41.1 41.9 43.0 39.2 41.1 42.6 15

 16 FL743130003 Time and savings deposits 46.8 43.9 46.4 41.8 46.0 45.1 41.5 41.8 42.9 16

 17 FL743193005 Miscellaneous liabilities 7.4 5.3 4.1 4.4 3.8 4.2 3.9 4.4 4.1 17

 Memo:

 18 FL743139105 Uninsured deposits (2) 19.4 20.1 24.3 27.2 27.4 28.1 27.0 27.2 29.0 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 1077.6 1165.6 1259.7 1342.2 1307.4 1315.3 1327.7 1342.2 1403.7 1

 2 FL473013005 Reserves at Federal Reserve 57.4 66.2 67.2 69.3 91.9 74.8 72.4 69.3 92.6 2

 3 FL472050053 Federal funds and security repos 0.0 0.0 0.0 0.2 0.1 0.1 0.2 0.2 0.3 3

 4 FL474022005 Debt securities 222.8 219.9 202.6 213.0 223.7 223.3 216.4 213.0 216.7 4

 5 FL473069153 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 5

 6 FL473061105 Treasury securities 21.6 29.2 13.6 29.3 28.2 28.2 28.0 29.3 31.5 6

 7 FL473061705 Agency- and GSE-backed securities 187.5 175.6 172.4 168.0 178.8 178.5 172.6 168.0 169.4 7

 8 FL473062005 Municipal securities 3.8 4.3 5.1 5.1 5.1 5.3 5.0 5.1 4.8 8

 9 FL473063005 Corporate and foreign bonds 9.9 10.8 11.5 10.7 11.6 11.4 10.8 10.7 10.9 9

 10 FL474023000 Loans 728.9 804.9 889.5 978.4 905.5 934.5 958.5 978.4 1001.0 10

 11 FL473068005 Depository institution loans n.e.c. 53.7 57.7 69.8 78.6 71.3 71.4 78.0 78.6 80.1 11

 12 FL473065100 Home mortgages 372.5 404.9 439.4 481.4 447.3 458.8 471.6 481.4 488.5 12

 13 FL473066000 Consumer credit 302.8 342.3 380.3 418.4 386.9 404.3 408.9 418.4 432.4 13

 14 LM473064205 Mutual fund shares 2.1 1.9 1.9 2.3 2.1 2.1 2.3 2.3 2.4 14

 15 FL473090005 Miscellaneous assets 66.4 72.6 98.4 79.1 84.2 80.6 78.0 79.1 90.8 15

 16 FL474190005 Total liabilities 969.9 1051.2 1137.7 1211.6 1182.8 1188.2 1198.9 1211.6 1271.4 16

 17 FL474110005 Net interbank liabilities -51.3 -45.7 -46.5 -42.4 -38.7 -42.8 -41.5 -42.4 -36.4 17

 18 FL473127003 Checkable deposits 133.9 153.4 157.1 172.4 167.1 169.3 168.8 172.4 186.8 18

 19 FL473130005 Time and savings deposits 836.5 882.9 957.3 1008.6 993.5 998.5 1003.3 1008.6 1042.0 19

 20 FL472150053 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL473169333 Loans (other loans and advances) 35.4 44.7 46.7 54.8 45.2 46.6 50.5 54.8 46.5 21

 22 FL473193005 Miscellaneous liabilities 15.4 16.0 23.1 18.2 15.7 16.6 17.7 18.2 32.5 22

 Memo:

 23 FL473139103 Uninsured deposits (1) 48.4 54.8 63.6 71.4 66.9 67.7 69.1 71.4 73.2 23

(1) Includes checkable deposits (line 18) and time and savings deposits (line 19) not insured by the National Credit Union Share Insurance Fund.
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L.115 Property-Casualty Insurance Companies

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL514090005 Total financial assets 1845.3 1848.7 1907.7 2031.6 1941.9 1972.8 2017.4 2031.6 2024.0 1

 2 FL513020003 Checkable deposits and currency 36.5 33.8 26.6 30.5 27.5 27.5 37.4 30.5 32.5 2

 3 FL513034003 Money market fund shares 18.5 21.7 15.1 19.1 15.6 16.2 17.4 19.1 20.3 3

 4 FL512051003 Security repurchase agreements 1.8 1.8 1.3 1.3 1.3 1.3 1.3 1.3 1.1 4

 5 LM514022005 Debt securities 1012.1 995.1 1027.1 1058.6 1015.5 1026.3 1036.0 1058.6 1035.4 5

 6 LM513069103 Open market paper 8.0 8.9 19.6 10.9 16.5 13.9 12.2 10.9 9.3 6

 7 LM513061103 Treasury securities 104.9 100.7 110.9 144.3 115.6 122.4 131.4 144.3 134.9 7

 8 LM513061703 Agency- and GSE-backed securities 111.6 102.7 104.3 111.0 104.2 106.6 108.3 111.0 110.0 8

 9 LM513062003 Municipal securities 339.6 345.8 338.5 327.0 330.2 329.4 326.7 327.0 327.0 9

 10 LM513063003 Corporate and foreign bonds 448.1 437.0 453.9 465.3 449.0 454.0 457.4 465.3 454.3 10

 11 FL513065503 Loans (commercial mortgages) 9.9 12.3 14.9 17.2 14.2 15.7 16.6 17.2 18.0 11

 12 LM513064105 Corporate equities 331.1 323.0 342.0 396.2 351.4 357.0 370.1 396.2 393.1 12

 13 LM513064203 Mutual fund shares 18.2 18.4 19.3 23.5 20.5 21.4 22.4 23.5 24.0 13

 14 FL513070003 Trade receivables 103.8 110.1 110.6 121.7 118.0 122.8 123.9 121.7 130.8 14

 15 LM513092003 U.S. direct investment abroad 119.2 110.1 113.4 116.2 114.9 118.6 120.0 116.2 109.8 15

 16 FL513090005 Miscellaneous assets 194.1 222.5 237.3 247.1 262.9 266.2 272.4 247.1 258.9 16

 17 FL513092403 Equity in FHLB 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 17

 18 FL513093005 Other 193.9 222.3 237.2 246.9 262.8 266.0 272.2 246.9 258.7 18

 19 FL514190005 Total liabilities 1095.5 1110.4 1152.4 1225.9 1171.1 1196.4 1249.0 1225.9 1240.0 19

 20 FL512151003 Security repurchase agreements 1.0 1.4 0.4 0.4 0.4 0.4 0.4 0.4 0.3 20

 21 FL513169333 Loans (other loans and advances) 2.2 2.4 2.9 2.7 2.9 3.9 2.9 2.7 3.7 21

 22 FL513178005 Taxes payable 6.6 7.4 8.4 13.1 8.0 6.7 7.2 13.1 14.0 22

 23 LM513192003 Foreign direct investment in U.S. 67.1 76.7 117.7 120.4 118.0 119.7 121.1 120.4 119.6 23

 24 FL513190005 Miscellaneous liabilities 1018.6 1022.6 1022.9 1089.2 1041.9 1065.7 1117.3 1089.2 1102.2 24

 25 FL513194733 Investment by parent companies 5.3 4.5 4.3 4.8 3.9 4.4 4.6 4.8 5.3 25

 26 FL513176003 Policy payables 822.5 838.1 859.0 893.5 852.4 866.1 911.3 893.5 899.5 26

 27 FL513193005 Other 190.8 180.0 159.6 190.9 185.6 195.3 201.4 190.9 197.5 27

 Memo:

 28 FL513200003 Securities lending (1) 2.8 2.8 3.1 5.1 4.8 5.2 5.6 5.1 5.6 28

 29 FL514090023 Financial guaranty insurers’ total assets (2) 28.0 27.5 26.7 26.5 26.6 26.3 26.4 26.5 25.4 29

 30 FL514090033 Mortgage guaranty insurers’ total assets (2) 20.2 20.6 20.9 22.1 21.4 21.5 21.9 22.1 25.3 30

(1) Liability for securities lending collateral, included in line 27.

(2) 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, June 7, 2018

L.116 Life Insurance Companies (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL544090005 Total financial assets 6520.0 6445.0 6764.3 7216.7 6894.3 7004.1 7123.4 7216.7 7120.6 1

 2 FL543020005 Checkable deposits and currency 57.1 65.9 69.4 86.1 70.3 78.2 78.4 86.1 83.3 2

 3 FL543034005 Money market fund shares 53.7 56.3 43.5 47.2 45.2 46.0 47.7 47.2 43.8 3

 4 FL542051073 Security repurchase agreements 3.1 2.7 2.3 1.9 2.3 2.2 2.1 1.9 1.7 4

 5 LM544022005 Debt securities 3265.4 3223.8 3407.7 3585.5 3453.9 3499.6 3541.6 3585.5 3531.0 5

 6 LM543069105 Open market paper 50.5 43.0 44.9 36.2 44.0 41.6 40.0 36.2 34.1 6

 7 LM543061105 Treasury securities 200.0 203.6 216.9 226.4 218.1 219.9 219.8 226.4 224.4 7

 8 LM543061705 Agency- and GSE-backed securities 382.5 364.4 366.1 382.4 370.6 375.1 379.1 382.4 381.3 8

 9 LM543062005 Municipal securities 164.4 171.2 179.0 192.7 182.7 186.2 189.7 192.7 193.8 9

 10 LM543063005 Corporate and foreign bonds 2467.9 2441.6 2600.8 2747.8 2638.4 2676.8 2713.0 2747.8 2697.5 10

 11 FL544023005 Loans 546.8 588.1 625.4 671.9 635.9 652.1 663.3 671.9 683.0 11

 12 FL543069005 Other loans and advances 162.0 161.5 164.4 169.9 163.9 166.5 170.2 169.9 171.1 12

 13 FL543065005 Mortgages 384.8 426.5 461.0 502.0 472.0 485.6 493.1 502.0 511.9 13

 14 LM543064105 Corporate equities 317.9 336.9 460.3 502.3 472.6 481.8 494.7 502.3 511.8 14

 15 LM543064205 Mutual fund shares 1682.0 1609.4 1539.1 1683.9 1586.3 1611.3 1647.9 1683.9 1654.3 15

 16 LM543092073 U.S. direct investment abroad 75.3 61.9 63.0 70.2 63.9 65.2 64.3 70.2 68.5 16

 17 FL543090005 Miscellaneous assets 518.8 500.0 553.6 567.7 563.9 567.8 583.4 567.7 543.1 17

 18 FL543092473 Equity in FHLB 3.0 3.4 3.8 4.2 4.1 4.0 4.0 4.2 4.5 18

 19 FL543077073 Deferred and unpaid life ins. premiums 29.9 31.6 31.3 33.1 32.7 33.1 33.2 33.1 35.5 19

 20 FL543093005 Other 485.9 464.9 518.5 530.4 527.1 530.8 546.2 530.4 503.1 20

 21 FL544190005 Total liabilities 5828.1 5886.9 6157.5 6541.7 6275.0 6360.5 6444.9 6541.7 6532.1 21

 22 FL542151073 Security repurchase agreements 21.9 21.4 21.6 21.4 21.7 22.3 21.7 21.4 19.1 22

 23 FL543169373 Loans (other loans and advances) 51.9 58.1 68.3 74.9 71.2 71.3 72.2 74.9 79.0 23

 24 FL543140005 Life insurance reserves 1426.1 1463.1 1503.5 1561.4 1521.5 1529.6 1545.5 1561.4 1567.0 24

 25 FL543150005 Pension entitlements (2) 2832.8 2877.6 3015.5 3220.2 3081.8 3120.4 3163.9 3220.2 3193.2 25

 26 FL543178075 Taxes payable 6.6 7.4 8.4 10.5 8.0 6.7 7.2 10.5 10.3 26

 27 LM543192073 Foreign direct investment in U.S. 82.7 87.7 100.3 100.8 100.4 104.4 105.7 100.8 102.7 27

 28 FL543190005 Miscellaneous liabilities 1406.1 1371.6 1439.9 1552.6 1470.4 1506.0 1528.7 1552.6 1560.9 28

 29 FL543194733 Investment by parent companies 11.5 12.0 13.3 15.8 13.6 14.3 14.7 15.8 15.1 29

 30 FL673090543 Funding agreements backing securities (3) 62.2 63.8 70.7 82.9 73.5 77.4 83.6 82.9 85.4 30

 31 FL543195005 Other reserves (4) 310.0 313.4 336.2 351.8 342.6 344.3 346.6 351.8 361.0 31

 32 FL593095005 Unallocated insurance contracts 672.3 645.5 655.4 699.1 665.8 674.6 686.3 699.1 694.1 32

 33 FL543193005 Other 350.2 337.0 364.3 403.1 374.8 395.5 397.4 403.1 405.2 33

 Memo:

 34 FL543200073 Securities lending (5) 53.9 49.4 47.8 49.0 51.1 50.9 51.5 49.0 52.9 34

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables L.116.g and L.116.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 32.

(3) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(4) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.

(5) Liability for securities lending collateral, included in line 33.
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L.116.g Life Insurance Companies: General Accounts

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL544090075 Total financial assets 4100.0 4052.4 4293.7 4523.4 4360.0 4435.3 4500.6 4523.4 4483.6 1

 2 FL543020073 Checkable deposits and currency 41.7 52.6 52.0 58.3 50.7 56.2 53.7 58.3 55.1 2

 3 FL543034073 Money market fund shares 28.1 28.7 18.5 24.3 20.9 22.3 24.4 24.3 20.6 3

 4 FL542051073 Security repurchase agreements 3.1 2.7 2.3 1.9 2.3 2.2 2.1 1.9 1.7 4

 5 LM544022075 Debt securities 2916.8 2837.5 3006.8 3174.5 3053.7 3097.7 3140.8 3174.5 3123.0 5

 6 LM543069170 Open market paper 28.2 23.5 27.8 23.8 28.2 27.1 26.6 23.8 21.6 6

 7 LM543061173 Treasury securities 154.3 155.6 164.6 172.2 167.6 170.1 172.2 172.2 170.1 7

 8 LM543061773 Agency- and GSE-backed securities 293.1 272.8 273.5 286.2 277.2 280.7 284.0 286.2 285.1 8

 9 LM543062073 Municipal securities 157.5 163.8 169.4 182.7 173.0 176.4 179.8 182.7 183.7 9

 10 LM543063075 Corporate and foreign bonds 2283.7 2221.7 2371.5 2509.6 2407.7 2443.5 2478.2 2509.6 2462.6 10

 11 FL544023075 Loans 534.6 560.7 597.2 642.2 607.3 623.1 634.0 642.2 652.9 11

 12 FL543069075 Other loans and advances 161.6 156.5 159.5 165.1 159.0 161.7 165.4 165.1 166.3 12

 13 FL543065070 Mortgages 373.0 404.2 437.7 477.1 448.3 461.5 468.6 477.1 486.6 13

 14 LM543064175 Corporate equities 83.5 83.6 91.9 100.4 93.0 97.6 100.3 100.4 104.0 14

 15 LM543064273 Mutual fund shares 5.7 5.3 6.5 7.2 6.7 6.8 7.0 7.2 7.5 15

 16 LM543092073 U.S. direct investment abroad 75.3 61.9 63.0 70.2 63.9 65.2 64.3 70.2 68.5 16

 17 FL543090075 Miscellaneous assets 411.3 419.5 455.5 444.4 461.4 464.1 474.1 444.4 450.3 17

 18 FL544190075 Total liabilities 3406.8 3476.2 3666.9 3831.6 3712.9 3752.5 3792.2 3831.6 3877.9 18

 19 FL542151073 Security repurchase agreements 21.9 21.4 21.6 21.4 21.7 22.3 21.7 21.4 19.1 19

 20 FL543169373 Loans (other loans and advances) 51.9 58.1 68.3 74.9 71.2 71.3 72.2 74.9 79.0 20

 21 FL543140073 Life insurance reserves 1142.7 1146.5 1169.9 1209.3 1181.0 1185.5 1198.2 1209.3 1222.2 21

 22 FL543150075 Pension entitlements (1) 1007.3 1073.6 1157.4 1170.1 1163.9 1162.6 1167.2 1170.1 1187.0 22

 23 FL543178075 Taxes payable 6.6 7.4 8.4 10.5 8.0 6.7 7.2 10.5 10.3 23

 24 LM543192073 Foreign direct investment in U.S. 82.7 87.7 100.3 100.8 100.4 104.4 105.7 100.8 102.7 24

 25 FL543190075 Miscellaneous liabilities 1093.6 1081.5 1140.9 1244.8 1166.7 1199.7 1219.9 1244.8 1257.6 25

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 25).

L.116.s Life Insurance Companies: Separate Accounts

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

 1 FL544090085 Total financial assets 2420.0 2392.6 2470.7 2693.2 2534.3 2568.8 2622.8 2693.2 2637.0 1

 2 FL543020083 Checkable deposits and currency 15.4 13.3 17.4 27.8 19.6 22.0 24.7 27.8 28.2 2

 3 FL543034385 Money market fund shares 25.7 27.6 25.0 22.8 24.3 23.7 23.3 22.8 23.2 3

 4 LM544022085 Debt securities 348.6 386.4 400.9 411.0 400.2 401.9 400.8 411.0 408.0 4

 5 LM543069183 Open market paper 22.3 19.5 17.1 12.4 15.8 14.5 13.4 12.4 12.5 5

 6 LM543061183 Treasury securities 45.8 48.0 52.2 54.2 50.5 49.8 47.7 54.2 54.2 6

 7 LM543061783 Agency- and GSE-backed securities 89.4 91.6 92.6 96.2 93.4 94.4 95.1 96.2 96.2 7

 8 LM543062083 Municipal securities 6.9 7.4 9.7 10.0 9.7 9.8 9.9 10.0 10.1 8

 9 LM543063085 Corporate and foreign bonds 184.2 219.9 229.3 238.2 230.7 233.3 234.8 238.2 234.8 9

 10 FL544023085 Loans 12.1 27.3 28.2 29.7 28.6 29.0 29.3 29.7 30.1 10

 11 FL543069483 Other loans and advances 0.4 5.0 4.9 4.8 4.9 4.8 4.8 4.8 4.8 11

 12 FL543065083 Mortgages 11.8 22.3 23.3 24.9 23.7 24.1 24.5 24.9 25.3 12

 13 LM543064183 Corporate equities 234.4 253.3 368.4 401.9 379.6 384.2 394.3 401.9 407.7 13

 14 LM543064285 Mutual fund shares 1676.3 1604.1 1532.6 1676.7 1579.6 1604.5 1640.9 1676.7 1646.9 14

 15 FL543090085 Miscellaneous assets 107.4 80.5 98.1 123.3 102.5 103.7 109.3 123.3 92.8 15

 16 FL544190085 Total liabilities 2421.3 2410.8 2490.6 2710.1 2562.1 2608.1 2652.7 2710.1 2654.2 16

 17 LM543140083 Life insurance reserves 283.4 316.6 333.6 352.1 340.6 344.0 347.3 352.1 344.8 17

 18 LM543150085 Pension entitlements (1) 1825.4 1804.0 1858.1 2050.2 1917.9 1957.8 1996.7 2050.2 2006.2 18

 19 FL543190085 Miscellaneous liabilities 312.5 290.2 298.9 307.9 303.7 306.3 308.8 307.9 303.3 19

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 19).
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L.117 Private and Public Pension Funds (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL594090005 Total financial assets (2) 17598.3 17855.9 18645.9 19881.2 19000.0 19245.4 19529.5 19881.2 19930.0 1

 2 FL593020005 Checkable deposits and currency 55.3 59.5 72.6 69.0 71.9 71.6 73.9 69.0 67.9 2

 3 FL593030005 Time and savings deposits 38.6 33.4 32.9 31.4 32.4 32.3 32.1 31.4 31.2 3

 4 FL593034005 Money market fund shares 210.7 206.8 219.7 210.0 217.0 215.6 217.8 210.0 208.2 4

 5 FL592051005 Security repurchase agreements 6.8 6.5 7.6 6.8 7.4 7.3 7.5 6.8 6.7 5

 6 LM594022005 Debt securities 3764.2 3785.8 3963.2 4046.6 3856.5 3796.5 4085.4 4046.6 4184.7 6

 7 FL593069105 Open market paper 87.7 83.4 96.1 88.0 94.1 93.3 95.2 88.0 86.0 7

 8 LM593061105 Treasury securities (3) 2128.8 2176.2 2297.1 2263.8 2159.8 2073.0 2332.3 2263.8 2430.1 8

 9 LM593061705 Agency- and GSE-backed securities 289.2 267.2 287.2 316.8 293.3 304.5 306.8 316.8 319.7 9

 10 LM593062045 Municipal securities 2.5 2.5 2.0 3.3 2.4 2.6 2.3 3.3 3.5 10

 11 LM593063005 Corporate and foreign bonds 1256.0 1256.5 1280.8 1374.6 1306.9 1323.1 1348.9 1374.6 1345.2 11

 12 FL593065005 Loans (mortgages) 32.3 30.4 30.1 29.4 29.4 30.8 30.8 29.4 29.2 12

 13 LM593064105 Corporate equities 4810.4 4678.7 4912.1 5597.9 5092.3 5212.8 5381.0 5597.9 5474.0 13

 14 LM593064205 Mutual fund shares 3623.7 3532.3 3740.3 4302.8 3928.3 4045.9 4160.3 4302.8 4275.0 14

 15 FL593090005 Miscellaneous assets 5056.3 5522.6 5667.4 5587.4 5764.8 5832.6 5540.7 5587.4 5653.2 15

 16 FL593095005 Unallocated insurance contracts (4) 672.3 645.5 655.4 699.1 665.8 674.6 686.3 699.1 694.1 16

 17 FL573074005 Contributions receivable 76.1 90.8 96.3 102.8 98.5 98.9 100.4 102.8 103.8 17

 18 FL593073005 Claims of pension fund on sponsor (5) 3480.0 3972.5 4035.4 3857.7 4105.6 4159.8 3845.5 3857.7 3920.0 18

 19 FL593093005 Other 827.9 813.9 880.3 927.8 894.9 899.3 908.5 927.8 935.3 19

 20 FL594190005 Pension entitlements (liabilities) (6) 17790.5 18033.5 18821.0 20072.4 19179.5 19428.6 19716.5 20072.4 20122.6 20

 Memo:

 Funded status of defined benefit plans:

 21 FL594190045 Pension entitlements 11621.6 11990.5 12354.5 12722.1 12446.7 12538.4 12630.3 12722.1 12813.3 21

 22 FL592000075 Funded by assets (7) 8141.7 8018.0 8319.1 9023.0 8448.7 8520.0 8796.8 9023.0 8899.9 22

 23 FL593073045 Unfunded (line 18) 3480.0 3972.5 4035.4 3699.1 3998.0 4018.4 3833.4 3699.1 3913.4 23

 24 FL153050015 Household retirement assets (8) 27345.3 27810.0 29307.5 31850.6 30041.4 30521.0 31096.4 31850.6 ND 24

 25 FL594190045 Defined benefit plans 11621.6 11990.5 12354.5 12722.1 12446.7 12538.4 12630.3 12722.1 12813.3 25

 26 FL594090055 Defined contribution plans 6168.9 6043.0 6466.5 7350.3 6732.8 6890.2 7086.2 7350.3 7309.2 26

 27 LM893131573 Individual retirement plans (IRAs) (9) 7292.0 7477.0 8080.0 9200.0 8400.0 8600.0 8850.0 9200.0 ND 27

 28 FL543150015 Annuities at life insurance companies (10) 2262.8 2299.6 2406.5 2578.2 2461.8 2492.4 2529.9 2578.2 ND 28

(1) Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(8) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(9) IRA assets are not included above. See memo items on table L.227 for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs are excluded. They are included in line 27.
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L.118 Private Pension Funds (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL574090005 Total financial assets (2) 8347.3 8237.4 8698.9 9492.2 8942.1 9085.3 9262.4 9492.2 9461.8 1

 2 FL573020005 Checkable deposits and currency 18.8 19.6 21.3 23.5 22.0 22.1 22.6 23.5 23.9 2

 3 FL573030005 Time and savings deposits 35.5 31.0 29.9 28.8 29.5 29.4 29.2 28.8 28.6 3

 4 FL573034005 Money market fund shares 155.6 151.0 151.2 149.7 150.4 149.9 149.8 149.7 149.7 4

 5 FL572051005 Security repurchase agreements 3.0 2.6 2.5 2.3 2.4 2.4 2.4 2.3 2.3 5

 6 LM574022005 Debt securities 1209.7 1173.7 1216.8 1285.7 1236.7 1249.9 1264.3 1285.7 1263.5 6

 7 FL573069105 Open market paper 43.2 38.4 37.3 36.2 36.9 36.8 36.6 36.2 36.1 7

 8 LM573061105 Treasury securities 304.9 287.2 292.9 306.5 296.6 299.2 302.0 306.5 303.5 8

 9 LM573061705 Agency- and GSE-backed securities 168.1 158.6 165.0 171.5 166.8 169.3 170.7 171.5 170.5 9

 10 LM573063005 Corporate and foreign bonds 693.6 689.5 721.5 771.5 736.4 744.6 755.1 771.5 753.5 10

 11 FL573065005 Loans (mortgages) 24.0 22.0 21.8 21.6 21.7 21.7 21.6 21.6 21.6 11

 12 LM573064105 Corporate equities 2284.3 2197.3 2354.0 2662.9 2436.1 2481.5 2552.7 2662.9 2612.0 12

 13 LM573064205 Mutual fund shares 3175.5 3055.4 3291.9 3801.8 3456.5 3564.8 3676.5 3801.8 3782.5 13

 14 FL573090005 Miscellaneous assets 1440.8 1584.9 1609.5 1515.9 1586.8 1563.5 1543.3 1515.9 1577.6 14

 15 FL573095005 Unallocated insurance contracts (3) 527.4 501.0 517.1 544.7 526.1 532.3 539.2 544.7 540.8 15

 16 FL573074005 Contributions receivable 76.1 90.8 96.3 102.8 98.5 98.9 100.4 102.8 103.8 16

 17 FL573073005 Claims of pension fund on sponsor (4) 176.7 348.3 328.1 172.0 285.8 254.2 218.7 172.0 231.5 17

 18 FL573093005 Other 660.6 644.8 668.0 696.5 676.4 678.1 685.0 696.5 701.6 18

 19 FL574190005 Pension entitlements (liabilities) (5) 8383.9 8274.0 8735.5 9528.8 8978.7 9121.9 9299.0 9528.8 9498.4 19

 Memo:

 Funded status of defined benefit plans:

 20 FL574190043 Pension entitlements 3136.2 3165.2 3202.8 3239.8 3212.1 3221.3 3230.5 3239.8 3249.0 20

 21 FL572000075 Funded by assets (6) 2959.5 2816.9 2874.7 3067.8 2926.2 2967.1 3011.9 3067.8 3017.6 21

 22 FL573073005 Unfunded (line 17) 176.7 348.3 328.1 172.0 285.8 254.2 218.7 172.0 231.5 22

 Total financial assets

 23 FL574090045 Defined benefit plans (7) 3099.7 3128.6 3166.2 3203.2 3175.5 3184.7 3193.9 3203.2 3212.4 23

 24 FL574090055 Defined contribution plans (8) 5247.7 5108.8 5532.7 6289.0 5766.6 5900.6 6068.5 6289.0 6249.3 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL574090045 Total financial assets (1) 3099.7 3128.6 3166.2 3203.2 3175.5 3184.7 3193.9 3203.2 3212.4 1

 2 FL573020043 Checkable deposits and currency 10.9 10.0 10.6 11.2 10.8 10.9 11.0 11.2 11.3 2

 3 FL573030043 Time and savings deposits 31.8 27.3 26.1 24.9 25.7 25.6 25.3 24.9 24.7 3

 4 FL573034043 Money market fund shares 38.0 32.6 31.3 29.8 30.7 30.6 30.3 29.8 29.6 4

 5 FL572051043 Security repurchase agreements 3.0 2.6 2.5 2.3 2.4 2.4 2.4 2.3 2.3 5

 6 LM574022045 Debt securities 870.1 837.5 854.3 883.4 864.0 872.2 877.5 883.4 863.7 6

 7 FL573069143 Open market paper 34.6 29.7 28.5 27.1 28.0 27.9 27.6 27.1 26.9 7

 8 LM573061143 Treasury securities 186.3 176.3 173.3 172.8 173.2 174.2 173.8 172.8 169.6 8

 9 LM573061743 Agency- and GSE-backed securities 104.7 99.2 102.7 106.0 103.8 105.3 105.9 106.0 105.2 9

 10 LM573063043 Corporate and foreign bonds 544.5 532.3 549.8 577.5 559.1 564.8 570.2 577.5 562.0 10

 11 FL573065043 Loans (mortgages) 14.7 14.1 13.8 13.5 13.7 13.7 13.6 13.5 13.5 11

 12 LM573064143 Corporate equities 1137.9 1071.2 1094.9 1204.6 1119.5 1140.7 1166.2 1204.6 1178.0 12

 13 LM573064243 Mutual fund shares 425.6 384.6 392.3 434.2 405.2 415.1 425.9 434.2 429.3 13

 14 FL573090045 Miscellaneous assets 567.6 748.8 740.4 599.1 703.5 673.5 641.7 599.1 660.0 14

 15 FL573095405 Unallocated insurance contracts (2) 59.8 55.8 55.1 56.3 55.5 56.1 56.7 56.3 55.6 15

 16 FL573074043 Contributions receivable 44.4 57.6 61.6 65.9 63.2 63.5 64.5 65.9 66.6 16

 17 FL573073005 Claims of pension fund on sponsor (3) 176.7 348.3 328.1 172.0 285.8 254.2 218.7 172.0 231.5 17

 18 FL573093043 Other 286.7 287.0 295.6 304.9 299.0 299.7 301.9 304.9 306.4 18

 19 FL574190043 Pension entitlements (liabilities) (4) 3136.2 3165.2 3202.8 3239.8 3212.1 3221.3 3230.5 3239.8 3249.0 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.118.c Private Pension Funds: Defined Contribution Plans (1)

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

 1 FL574090055 Total financial assets 5247.7 5108.8 5532.7 6289.0 5766.6 5900.6 6068.5 6289.0 6249.3 1

 2 FL573020033 Checkable deposits and currency 8.0 9.6 10.7 12.3 11.1 11.2 11.6 12.3 12.6 2

 3 FL573030033 Time and savings deposits 3.7 3.7 3.8 3.9 3.8 3.8 3.9 3.9 3.9 3

 4 FL573034055 Money market fund shares 117.6 118.4 119.9 119.9 119.7 119.3 119.6 119.9 120.2 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 339.6 336.2 362.5 402.3 372.7 377.7 386.8 402.3 399.8 6

 7 FL573069133 Open market paper 8.6 8.7 8.9 9.1 8.9 8.9 9.0 9.1 9.2 7

 8 LM573061133 Treasury securities 118.6 111.0 119.7 133.7 123.4 124.9 128.2 133.7 133.9 8

 9 LM573061733 Agency- and GSE-backed securities 63.4 59.4 62.2 65.5 63.1 64.0 64.8 65.5 65.3 9

 10 LM573063033 Corporate and foreign bonds 149.1 157.2 171.7 193.9 177.3 179.8 184.9 193.9 191.5 10

 11 FL573065033 Loans (mortgages) 9.3 7.9 8.0 8.1 8.0 8.0 8.0 8.1 8.1 11

 12 LM573064133 Corporate equities 1146.4 1126.1 1259.1 1458.3 1316.7 1340.8 1386.4 1458.3 1434.0 12

 13 LM573064255 Mutual fund shares 2749.8 2670.8 2899.6 3367.6 3051.3 3149.8 3250.6 3367.6 3353.2 13

 14 FL573090055 Miscellaneous assets 873.2 836.1 869.1 916.8 883.3 889.9 901.6 916.8 917.6 14

 15 FL573095505 Unallocated insurance contracts (2) 467.6 445.2 462.0 488.4 470.7 476.1 482.5 488.4 485.2 15

 16 FL573074033 Contributions receivable 31.7 33.2 34.8 36.8 35.3 35.4 35.9 36.8 37.2 16

 17 FL573093033 Other 374.0 357.8 372.4 391.6 377.3 378.4 383.1 391.6 395.2 17

 18 FL574090055 Pension entitlements (liabilities) 5247.7 5108.8 5532.7 6289.0 5766.6 5900.6 6068.5 6289.0 6249.3 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
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L.119 Federal Government Employee Retirement Funds

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL344090005 Total financial assets (1) 3688.4 3794.8 3925.5 4089.7 3968.1 4004.7 4045.2 4089.7 4116.1 1

 2 FL343020033 Checkable deposits and currency 0.9 0.9 0.8 1.1 0.9 1.0 1.0 1.1 1.1 2

 3 LM344022005 Debt securities 1643.6 1735.8 1836.6 1752.8 1689.0 1585.7 1841.5 1752.8 1916.1 3

 4 LM343061105 Treasury securities (2) 1623.4 1714.8 1814.4 1729.8 1666.6 1562.9 1818.3 1729.8 1893.7 4

 5 LM343061705 Agency- and GSE-backed securities 8.3 8.4 8.7 9.0 8.7 8.9 9.1 9.0 8.8 5

 6 LM343062033 Municipal securities 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 6

 7 LM343063005 Corporate and foreign bonds 11.9 12.6 13.5 14.0 13.6 13.9 14.0 14.0 13.4 7

 8 LM343064105 Corporate equities 240.2 240.3 260.8 324.1 277.1 288.1 300.4 324.1 321.9 8

 9 FL343073005 Claims of pension fund on sponsor (misc. assets) (3) 1803.7 1817.8 1827.3 2011.8 2001.1 2129.9 1902.3 2011.8 1877.0 9

 10 FL344090005 Pension entitlements (liabilities) (4) 3688.4 3794.8 3925.5 4089.7 3968.1 4004.7 4045.2 4089.7 4116.1 10

 Memo:

 Funded status of defined benefit plans:

 11 FL344090045 Pension entitlements 3248.7 3336.5 3430.2 3526.3 3454.5 3478.4 3502.4 3526.3 3549.8 11

 12 FL342000075 Funded by assets (5) 1445.0 1518.7 1602.9 1673.2 1561.1 1489.9 1612.1 1673.2 1679.4 12

 13 FL343073045 Unfunded (line 7) 1803.7 1817.8 1827.3 1853.1 1893.4 1988.5 1890.3 1853.1 1870.4 13

 Total financial assets

 14 FL344090045 Defined benefit plans (6) 3248.7 3336.5 3430.2 3526.3 3454.5 3478.4 3502.4 3526.3 3549.8 14

 15 FL344090055 Defined contribution plans (7) 439.7 458.3 495.4 563.4 513.6 526.3 542.8 563.4 566.3 15

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(5) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans is available on table L.119.b.

(7) 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL344090045 Total financial assets (2) 3248.7 3336.5 3430.2 3526.3 3454.5 3478.4 3502.4 3526.3 3549.8 1

 2 FL343020033 Checkable deposits and currency 0.9 0.9 0.8 1.1 0.9 1.0 1.0 1.1 1.1 2

 3 LM344022045 Debt securities 1428.3 1504.1 1588.2 1656.6 1546.1 1474.6 1595.8 1656.6 1663.1 3

 4 LM343061165 Treasury securities (3) 1423.5 1498.8 1582.6 1651.1 1540.4 1468.8 1590.4 1651.1 1657.6 4

 5 LM343061733 Agency- and GSE-backed securities 0.6 0.6 0.8 0.9 0.9 0.9 0.8 0.9 0.8 5

 6 LM343062033 Municipal securities 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 6

 7 LM343063033 Corporate and foreign bonds 4.2 4.5 4.6 4.6 4.7 4.8 4.6 4.6 4.5 7

 8 LM343064135 Corporate equities 15.8 13.8 13.9 15.5 14.1 14.3 15.3 15.5 15.2 8

 9 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1803.7 1817.8 1827.3 1853.1 1893.4 1988.5 1890.3 1853.1 1870.4 9

 10 FL344190045 Pension entitlements (liabilities) (5) 3248.7 3336.5 3430.2 3526.3 3454.5 3478.4 3502.4 3526.3 3549.8 10

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Comprised primarily of nonmarketable Treasury securities.

(4) Unfunded defined benefit pension entitlements. 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 FL344090025 Total financial assets 439.7 458.3 495.4 563.4 513.6 526.3 542.8 563.4 566.3 1

 2 LM344022025 Debt securities 215.3 231.7 248.5 96.2 143.0 111.1 245.7 96.2 253.0 2

 3 LM343061155 Treasury securities (2) 199.9 216.0 231.8 78.7 126.2 94.1 228.0 78.7 236.1 3

 4 LM343061723 Agency- and GSE-backed securities 7.7 7.7 7.8 8.2 7.9 8.0 8.3 8.2 8.0 4

 5 LM343063023 Corporate and foreign bonds 7.7 8.0 8.8 9.3 8.9 9.1 9.4 9.3 8.9 5

 6 LM343064125 Corporate equities 224.4 226.6 246.9 308.6 263.0 273.8 285.1 308.6 306.7 6

 7 FL343073053 Claims of pension fund on sponsor (misc. assets) (3) 0.0 0.0 0.0 158.7 107.6 141.4 12.0 158.7 6.6 7

 8 FL344090025 Pension entitlements (liabilities) 439.7 458.3 495.4 563.4 513.6 526.3 542.8 563.4 566.3 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, June 7, 2018 99

L.120 State and Local Government Employee Retirement Funds

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL224090005 Total financial assets (1) 5562.6 5823.7 6021.5 6299.3 6089.8 6155.5 6221.8 6299.3 6352.1 1

 2 FL223020043 Checkable deposits and currency 35.6 39.1 50.4 44.4 49.1 48.5 50.3 44.4 42.9 2

 3 FL223030043 Time and savings deposits 3.1 2.4 2.9 2.6 2.9 2.8 2.9 2.6 2.5 3

 4 FL223034005 Money market fund shares 55.1 55.8 68.5 60.4 66.6 65.7 68.0 60.4 58.5 4

 5 FL222051043 Security repurchase agreements 3.8 3.9 5.1 4.5 5.0 4.9 5.1 4.5 4.3 5

 6 LM224022045 Debt securities 910.9 876.3 909.8 1008.1 930.7 960.9 979.6 1008.1 1005.1 6

 7 FL223069143 Open market paper 44.5 45.0 58.8 51.7 57.2 56.5 58.6 51.7 50.0 7

 8 LM223061143 Treasury securities 200.5 174.2 189.7 227.6 196.6 210.9 212.0 227.6 232.9 8

 9 LM223061743 Agency- and GSE-backed securities 112.9 100.2 113.6 136.3 117.7 126.3 127.0 136.3 140.5 9

 10 LM223062043 Municipal securities 2.4 2.5 2.0 3.2 2.3 2.5 2.2 3.2 3.4 10

 11 LM223063045 Corporate and foreign bonds 550.6 554.4 545.8 589.2 556.9 564.6 579.9 589.2 578.3 11

 12 FL223065043 Loans (mortgages) 8.3 8.4 8.3 7.8 7.7 9.2 9.1 7.8 7.6 12

 13 LM223064145 Corporate equities 2285.9 2241.0 2297.4 2610.9 2379.1 2443.2 2527.9 2610.9 2540.1 13

 14 LM223064205 Mutual fund shares 448.2 476.9 448.5 501.0 471.9 481.1 483.8 501.0 492.5 14

 15 FL223090005 Miscellaneous assets 1811.7 2120.0 2230.6 2059.7 2177.0 2139.2 2095.1 2059.7 2198.6 15

 16 FL223095505 Unallocated insurance contracts (2) 144.9 144.5 138.3 154.4 139.7 142.3 147.1 154.4 153.3 16

 17 FL223073045 Claims of pension fund on sponsor (3) 1499.5 1806.4 1880.0 1674.0 1818.7 1775.7 1724.5 1674.0 1811.6 17

 18 FL223093005 Other 167.3 169.1 212.4 231.3 218.5 221.1 223.5 231.3 233.7 18

 19 FL224190005 Pension entitlements (liabilities) (4) 5718.3 5964.7 6160.0 6453.8 6232.8 6302.1 6372.2 6453.8 6508.1 19

 Memo:

 Funded status of defined benefit plans:

 20 FL224190043 Pension entitlements 5236.7 5488.8 5721.5 5955.9 5780.1 5838.7 5897.3 5955.9 6014.6 20

 21 FL222000075 Funded by assets (5) 3737.2 3682.4 3841.5 4281.9 3961.4 4063.0 4172.8 4281.9 4203.0 21

 22 FL223073045 Unfunded (line 17) 1499.5 1806.4 1880.0 1674.0 1818.7 1775.7 1724.5 1674.0 1811.6 22

 Total financial assets

 23 FL224090045 Defined benefit plans (6) 5081.1 5347.9 5583.0 5801.4 5637.2 5692.1 5746.9 5801.4 5858.6 23

 24 FL224090055 Defined contribution plans (7) 481.6 475.9 438.5 497.8 452.7 463.3 474.9 497.8 493.6 24

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans is available on table L.120.b.

(7) Additional detail on defined contribution plans is available on table L.120.c.
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100 Z.1, June 7, 2018

L.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL224090045 Total financial assets (1) 5081.1 5347.9 5583.0 5801.4 5637.2 5692.1 5746.9 5801.4 5858.6 1

 2 FL223020043 Checkable deposits and currency 35.6 39.1 50.4 44.4 49.1 48.5 50.3 44.4 42.9 2

 3 FL223030043 Time and savings deposits 3.1 2.4 2.9 2.6 2.9 2.8 2.9 2.6 2.5 3

 4 FL223034043 Money market fund shares 48.8 49.4 64.5 56.7 62.7 62.0 64.3 56.7 54.8 4

 5 FL222051043 Security repurchase agreements 3.8 3.9 5.1 4.5 5.0 4.9 5.1 4.5 4.3 5

 6 LM224022045 Debt securities 910.9 876.3 909.8 1008.1 930.7 960.9 979.6 1008.1 1005.1 6

 7 FL223069143 Open market paper 44.5 45.0 58.8 51.7 57.2 56.5 58.6 51.7 50.0 7

 8 LM223061143 Treasury securities 200.5 174.2 189.7 227.6 196.6 210.9 212.0 227.6 232.9 8

 9 LM223061743 Agency- and GSE-backed securities 112.9 100.2 113.6 136.3 117.7 126.3 127.0 136.3 140.5 9

 10 LM223062043 Municipal securities 2.4 2.5 2.0 3.2 2.3 2.5 2.2 3.2 3.4 10

 11 LM223063045 Corporate and foreign bonds 550.6 554.4 545.8 589.2 556.9 564.6 579.9 589.2 578.3 11

 12 FL223065043 Loans (mortgages) 8.3 8.4 8.3 7.8 7.7 9.2 9.1 7.8 7.6 12

 13 LM223064145 Corporate equities 2285.9 2241.0 2297.4 2610.9 2379.1 2443.2 2527.9 2610.9 2540.1 13

 14 LM223064243 Mutual fund shares 170.3 202.7 229.3 246.7 239.7 242.0 240.9 246.7 241.4 14

 15 FL223090045 Miscellaneous assets 1614.3 1924.7 2015.4 1819.7 1960.3 1918.6 1866.8 1819.7 1959.9 15

 16 FL223073045 Claims of pension fund on sponsor (2) 1499.5 1806.4 1880.0 1674.0 1818.7 1775.7 1724.5 1674.0 1811.6 16

 17 FL223093043 Other 114.8 118.3 135.4 145.7 141.6 142.9 142.3 145.7 148.3 17

 18 FL224190043 Pension entitlements (liabilities) (3) 5236.7 5488.8 5721.5 5955.9 5780.1 5838.7 5897.3 5955.9 6014.6 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 481.6 475.9 438.5 497.8 452.7 463.3 474.9 497.8 493.6 1

 2 FL223034055 Money market fund shares 6.3 6.4 4.0 3.6 3.8 3.7 3.7 3.6 3.7 2

 3 LM223064255 Mutual fund shares 277.9 274.2 219.2 254.3 232.1 239.1 242.9 254.3 251.1 3

 4 FL223090055 Miscellaneous assets 197.3 195.3 215.3 240.0 216.7 220.5 228.4 240.0 238.8 4

 5 FL223095505 Unallocated insurance contracts (misc. assets) (2) 144.9 144.5 138.3 154.4 139.7 142.3 147.1 154.4 153.3 5

 6 FL223093053 Other 52.5 50.8 77.0 85.6 77.0 78.3 81.3 85.6 85.4 6

 7 FL224090055 Pension entitlements (liabilities) 481.6 475.9 438.5 497.8 452.7 463.3 474.9 497.8 493.6 7

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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L.121 Money Market Funds (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL634090005 Total financial assets 2724.6 2754.7 2728.1 2847.3 2664.3 2633.4 2747.7 2847.3 2793.0 1

 2 FL633091003 Foreign deposits 24.5 11.1 1.9 3.7 3.6 3.3 5.5 3.7 1.2 2

 3 FL633020000 Checkable deposits and currency -4.4 7.6 29.6 22.1 14.3 14.8 35.9 22.1 10.3 3

 4 FL633030000 Time and savings deposits 523.4 445.0 146.8 179.4 179.4 177.3 199.0 179.4 171.4 4

 5 FL632051000 Security repurchase agreements 654.5 699.3 800.2 956.3 808.0 894.1 909.5 956.3 783.0 5

 6 FL634022005 Debt securities 1509.6 1581.9 1746.2 1682.6 1655.3 1540.6 1593.5 1682.6 1824.4 6

 7 FL633069175 Open market paper 338.6 298.8 103.8 148.2 109.1 124.5 133.2 148.2 154.4 7

 8 FL633061105 Treasury securities 419.0 482.9 796.2 702.2 741.0 624.3 650.5 702.2 879.2 8

 9 FL633061700 Agency- and GSE-backed securities 390.5 467.4 677.8 682.5 643.8 642.9 666.3 682.5 643.8 9

 10 FL633062000 Municipal securities 282.0 268.4 162.2 142.3 153.3 141.8 135.1 142.3 140.8 10

 11 FL633063003 Corporate and foreign bonds 79.5 64.4 6.1 7.4 8.0 7.1 8.3 7.4 6.2 11

 12 FL633093005 Miscellaneous assets 17.0 10.0 3.6 3.2 3.8 3.3 4.3 3.2 2.6 12

 13 FL634090005 Total shares outstanding (liabilities) 2724.6 2754.7 2728.1 2847.3 2664.3 2633.4 2747.7 2847.3 2793.0 13

 Memo:

 14 FL634090503 Variable annuity money market funds included above 37.1 39.0 35.9 32.2 34.4 33.3 32.9 32.2 32.7 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 13150.6 12897.2 13615.6 15899.0 14327.1 14795.3 15347.0 15899.0 15874.3 1

 2 FL652051003 Security repurchase agreements 94.1 81.7 84.1 98.0 93.5 91.5 98.0 98.0 92.8 2

 3 LM654022005 Debt securities 3834.5 3834.2 4077.1 4505.0 4191.4 4337.3 4434.2 4505.0 4497.3 3

 4 LM653069100 Open market paper 94.1 81.7 84.1 98.0 93.5 91.5 98.0 98.0 92.8 4

 5 LM653061105 Treasury securities 682.9 826.6 902.6 1097.2 932.9 916.5 1039.4 1097.2 1108.0 5

 6 LM653061703 Agency- and GSE-backed securities 689.8 584.9 596.4 593.6 580.0 689.7 611.4 593.6 603.6 6

 7 LM653062003 Municipal securities 586.6 603.7 632.2 688.1 646.6 666.5 680.4 688.1 687.6 7

 8 LM653063005 Corporate and foreign bonds 1781.2 1737.3 1861.9 2028.1 1938.4 1973.0 2005.0 2028.1 2005.3 8

 9 FL653069803 Loans (other loans and advances) 154.5 138.9 157.5 183.2 166.1 176.2 182.0 183.2 182.2 9

 10 LM653064100 Corporate equities 8799.2 8625.3 9069.9 10819.6 9604.9 9923.3 10351.3 10819.6 10658.1 10

 11 FL653093005 Miscellaneous assets 268.3 217.1 227.0 293.1 271.3 266.9 281.4 293.1 443.8 11

 12 LM654090000 Total shares outstanding (liabilities) 13150.6 12897.2 13615.6 15899.0 14327.1 14795.3 15347.0 15899.0 15874.3 12

 Memo:

 13 LM654090500 Variable annuity mutual funds included above 1672.3 1597.1 1638.2 1794.4 1689.1 1715.6 1754.3 1794.4 1757.7 13

 Total financial assets by investment objective:

 14 LM654091603 Domestic equity funds 6232.6 6045.5 6414.7 7481.8 6762.6 6934.9 7176.5 7481.8 7417.9 14

 15 LM654092603 World equity funds 2081.4 2104.1 2162.5 2824.2 2359.7 2524.0 2688.7 2824.2 2862.5 15

 16 LM654091403 Hybrid funds 1374.1 1334.3 1388.7 1525.7 1433.9 1454.3 1489.9 1525.7 1498.8 16

 17 LM654091303 Taxable bond funds 2894.1 2820.0 3036.0 3402.0 3148.2 3239.7 3331.4 3402.0 3424.3 17

 18 LM654091203 Municipal bond funds 566.5 593.4 613.7 665.3 628.6 646.5 660.6 665.3 670.7 18

(1) Open-end investment companies including variable annuity mutual funds.
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L.123 Closed-End Funds

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 LM554090005 Total financial assets 289.3 261.0 262.6 275.2 268.9 271.8 274.7 275.2 266.2 1

 2 LM554022005 Debt securities 169.9 161.2 160.8 165.9 163.4 165.7 166.1 165.9 162.9 2

 3 LM553061103 Treasury securities 6.4 5.8 3.6 3.7 3.7 3.7 3.7 3.7 3.6 3

 4 LM553062003 Municipal securities 90.2 89.5 86.9 89.0 87.4 88.6 88.7 89.0 87.3 4

 5 LM553063003 Corporate and foreign bonds 73.3 65.8 70.2 73.2 72.3 73.4 73.7 73.2 72.0 5

 6 LM553064103 Corporate equities 119.4 99.8 101.8 109.2 105.5 106.0 108.5 109.2 103.3 6

 7 LM554090005 Total shares outstanding (liabilities) 289.3 261.0 262.6 275.2 268.9 271.8 274.7 275.2 266.2 7

 Memo:

 Total financial assets by investment objective:

 8 LM554091603 Domestic equity funds 89.0 72.2 75.6 79.6 77.9 77.4 78.7 79.6 74.8 8

 9 LM554092603 World equity funds 30.4 27.6 26.2 29.6 27.6 28.6 29.8 29.6 28.5 9

 10 LM554091303 Domestic taxable bond funds 56.8 51.7 53.6 56.0 55.0 55.9 56.5 56.0 54.9 10

 11 LM554091203 Municipal bond funds 90.2 89.5 86.9 89.0 87.4 88.6 88.7 89.0 87.3 11

 12 LM554092303 World bond funds 22.9 19.9 20.3 20.9 21.0 21.2 20.9 20.9 20.6 12

L.124 Exchange-Traded Funds

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

 1 LM564090005 Total financial assets 1974.6 2100.7 2524.4 3400.7 2774.5 2944.1 3137.3 3400.7 3411.2 1

 2 LM564022005 Debt securities 297.4 341.6 429.0 556.2 467.3 503.4 537.1 556.2 563.8 2

 3 LM563061103 Treasury securities 67.5 80.3 94.7 122.2 104.4 110.0 119.1 122.2 131.2 3

 4 LM563062003 Municipal securities 15.1 19.1 24.7 30.4 25.5 27.3 28.6 30.4 30.7 4

 5 LM563063003 Corporate and foreign bonds 214.8 242.2 309.6 403.5 337.4 366.1 389.4 403.5 401.9 5

 6 LM563064103 Corporate equities 1620.2 1709.7 2032.7 2775.6 2241.1 2374.4 2531.2 2775.6 2775.8 6

 7 LM563093003 Miscellaneous assets (1) 57.0 49.3 62.8 68.9 66.1 66.3 69.0 68.9 71.7 7

 8 LM564090005 Total shares outstanding (liabilities) 1974.6 2100.7 2524.4 3400.7 2774.5 2944.1 3137.3 3400.7 3411.2 8

 Memo:

 Total financial assets by investment objective:

 9 LM564091603 Domestic equity funds 1203.3 1232.7 1526.8 1978.4 1655.4 1711.0 1802.2 1978.4 1946.9 9

 10 LM564092603 World equity funds 414.8 474.6 502.7 792.2 582.2 659.5 724.6 792.2 823.6 10

 11 LM563093003 Commodity funds (1) 57.0 49.3 62.8 68.9 66.1 66.3 69.0 68.9 71.7 11

 12 LM564091403 Hybrid funds 3.0 3.7 5.0 7.8 5.6 6.3 7.0 7.8 8.3 12

 13 LM564091303 Taxable bond funds 281.3 321.2 402.5 522.9 439.7 473.7 505.9 522.9 530.1 13

 14 LM564091203 Municipal bond funds 15.1 19.1 24.6 30.4 25.5 27.2 28.6 30.4 30.6 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL404090005 Total financial assets 6399.9 6487.7 6685.4 6818.7 6681.1 6728.2 6772.8 6818.7 6806.4 1

 2 FL403020005 Checkable deposits and currency 65.0 41.0 48.8 49.4 41.8 33.0 37.7 49.4 23.6 2

 3 FL403030005 Time and savings deposits 3.3 2.5 5.9 7.6 5.5 5.9 6.5 7.6 8.8 3

 4 FL402050005 Federal funds and security repos 162.6 182.9 185.0 195.6 207.7 202.3 203.0 195.6 218.7 4

 5 FL404022005 Debt securities 472.1 446.9 442.6 403.8 436.8 427.5 410.9 403.8 407.5 5

 6 FL403069105 Open market paper 6.0 5.5 5.9 6.4 5.5 6.0 6.0 6.4 7.2 6

 7 FL403061105 Treasury securities 64.3 87.5 102.4 101.3 107.9 104.5 99.0 101.3 106.3 7

 8 FL403061705 Agency- and GSE-backed securities 295.7 281.4 287.4 267.4 282.4 280.2 274.5 267.4 265.9 8

 9 FL403062005 Municipal securities 10.8 8.2 5.8 4.6 5.6 5.2 4.7 4.6 4.4 9

 10 FL403063005 Corporate and foreign bonds 95.4 64.3 41.1 24.1 35.3 31.7 26.6 24.1 23.8 10

 11 FL404023005 Loans 5542.3 5666.3 5852.4 6051.4 5864.9 5927.3 5980.1 6051.4 6043.1 11

 12 FL403069305 Other loans and advances 671.8 746.2 825.1 857.7 782.5 826.8 838.9 857.7 827.3 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 106.1 115.0 120.8 125.6 122.0 120.4 119.8 125.6 128.4 14

 15 FL403069330 FHLB 565.7 631.2 704.3 732.1 660.5 706.4 719.1 732.1 699.0 15

 16 FL403065005 Mortgages 4870.5 4920.1 5027.2 5193.7 5082.4 5100.5 5141.1 5193.7 5215.8 16

 17 FL403065105 Home 4538.0 4571.0 4644.8 4774.4 4687.8 4702.8 4735.2 4774.4 4797.5 17

 18 FL403065195 Consolidated trusts (2) 4104.2 4171.8 4284.2 4461.8 4338.4 4364.5 4403.9 4461.8 4493.8 18

 19 FL403065185 Other 433.8 399.2 360.6 312.6 349.5 338.4 331.3 312.6 303.7 19

 20 FL403065405 Multifamily residential 240.8 249.1 275.4 307.1 286.3 288.0 294.9 307.1 305.8 20

 21 FL403065495 Consolidated trusts (2) 164.6 187.0 223.6 264.2 234.0 243.7 253.4 264.2 269.0 21

 22 FL403065485 Other 76.2 62.2 51.8 42.8 52.2 44.3 41.6 42.8 36.8 22

 23 FL403065605 Farm 91.6 100.0 107.1 112.2 108.3 109.7 111.0 112.2 112.5 23

 24 FL403066005 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FL403093005 Miscellaneous assets 154.7 148.2 150.7 111.0 124.4 132.2 134.6 111.0 104.6 25

 26 FL404190005 Total liabilities 6386.6 6475.4 6673.3 6826.7 6671.2 6722.6 6767.5 6826.7 6794.7 26

 27 FL402150005 Federal funds and security repos 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FL403161705 Debt securities (GSE issues) (4) 6275.5 6369.0 6563.2 6716.3 6570.2 6619.8 6658.1 6716.3 6685.7 28

 29 FL403161795 Consolidated trusts (2) 4268.8 4358.7 4507.7 4726.1 4572.4 4608.2 4657.3 4726.1 4762.7 29

 30 FL403161785 Other 2006.7 2010.3 2055.4 1990.2 1997.8 2011.7 2000.8 1990.2 1922.9 30

 31 FL403169283 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FL403190005 Miscellaneous liabilities 111.0 106.5 110.1 110.5 101.0 102.8 109.4 110.5 109.1 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) Sallie Mae student loans.

(4) 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 1648.5 1775.5 1933.0 2126.6 1977.1 2022.8 2076.4 2126.6 2164.0 1

 2 FL413065105 Home mortgages 1474.8 1568.8 1684.6 1825.8 1720.8 1755.8 1796.6 1825.8 1851.3 2

 3 FL413065405 Multifamily residential mortgages 172.1 204.3 245.6 299.1 253.6 265.3 278.1 299.1 311.1 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 1.6 2.3 2.7 1.7 2.7 1.7 1.7 1.7 1.6 5

 6 FL413065005 Total pool securities (liabilities) (2) 1648.5 1775.5 1933.0 2126.6 1977.1 2022.8 2076.4 2126.6 2164.0 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (L.126) are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (L.125). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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L.127 Issuers of Asset-Backed Securities (ABS)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL674090005 Total financial assets 1424.1 1346.6 1229.1 1174.2 1201.4 1199.2 1181.1 1174.2 1159.9 1

 2 FL674022005 Debt securites 27.3 28.2 19.9 11.5 15.3 11.6 10.7 11.5 12.9 2

 3 FL673061103 Treasury securities 27.2 28.2 19.9 11.5 15.3 11.6 10.7 11.5 12.9 3

 4 FL673061703 Agency- and GSE-backed securities (1) 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL674023005 Loans 1303.2 1220.5 1104.6 1047.3 1078.6 1077.2 1053.6 1047.3 1028.9 5

 6 FL673069005 Other loans and advances 159.3 158.3 159.4 165.8 157.1 166.9 160.8 165.8 162.0 6

 7 FL673065005 Mortgages (2) 1094.1 1016.2 895.2 847.5 866.0 854.9 842.2 847.5 835.2 7

 8 FL673065105 Home 699.6 602.6 519.0 475.4 509.1 494.7 483.5 475.4 460.1 8

 9 FL673065405 Multifamily residential 68.4 62.0 47.9 43.1 43.7 41.2 41.9 43.1 41.4 9

 10 FL673065505 Commercial 326.1 351.5 328.4 329.0 313.2 319.1 316.8 329.0 333.7 10

 11 FL673066000 Consumer credit 49.8 46.0 50.0 33.9 55.5 55.4 50.6 33.9 31.7 11

 12 FL673070003 Trade credit 31.4 34.1 33.9 32.5 34.0 33.1 33.2 32.5 32.7 12

 13 FL673090543 Miscellaneous assets (funding agreements) (3) 62.2 63.8 70.7 82.9 73.5 77.4 83.6 82.9 85.4 13

 14 FL674122005 Total liabilities 1424.1 1346.6 1229.1 1174.2 1201.4 1199.2 1181.1 1174.2 1159.9 14

 15 FL674122005 Debt securities 1424.1 1346.6 1229.1 1174.2 1201.4 1199.2 1181.1 1174.2 1159.9 15

 16 FL673169105 Commercial paper 12.7 10.0 14.7 3.5 3.7 2.5 2.8 3.5 3.2 16

 17 FL673163005 Corporate bonds (net) (4) 1411.4 1336.6 1214.4 1170.7 1197.8 1196.7 1178.3 1170.7 1156.6 17

 Memo:

 Securitized assets not included above

 18 FL675013263 Consumer leases (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FL643065045 REIT assets (6) 172.5 143.0 134.2 109.8 124.6 116.8 112.2 109.8 111.7 19

 Securitized liabilities not included above

 20 FL763169103 Commercial paper (7) 54.5 53.6 49.0 49.7 49.4 48.7 50.4 49.7 48.9 20

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Liabilities net of assets.

(5) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(6) Included on table L.129.

(7) 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL614090005 Total financial assets 1726.6 1597.0 1527.4 1501.3 1506.0 1493.3 1476.6 1501.3 1479.8 1

 2 FL613020003 Checkable deposits and currency 31.9 30.4 20.8 18.6 19.0 18.4 17.7 18.6 17.3 2

 3 FL613030003 Time and savings deposits 95.7 91.2 62.3 55.7 57.0 55.1 53.2 55.7 51.9 3

 4 LM613063003 Debt securities (corporate and foreign bonds) 73.9 62.7 73.1 63.8 70.1 68.0 64.4 63.8 61.6 4

 5 FL614023005 Loans 1243.7 1125.5 1074.2 1051.0 1064.6 1060.1 1050.7 1051.0 1041.6 5

 6 FL613069500 Other loans and advances 411.5 404.7 388.0 387.2 388.8 388.1 383.2 387.2 386.5 6

 7 FL613065000 Mortgages 148.1 159.5 138.3 123.8 134.1 129.5 127.8 123.8 125.5 7

 8 FL613066005 Consumer credit 684.1 561.3 547.9 539.9 541.7 542.4 539.8 539.9 529.5 8

 9 LM613092003 U.S. direct investment abroad 225.2 229.1 251.5 281.8 256.8 257.6 262.4 281.8 280.3 9

 10 FL613090005 Miscellaneous assets 56.1 58.2 45.5 30.5 38.5 34.2 28.2 30.5 27.1 10

 11 FL614190005 Total liabilities 1522.4 1385.8 1289.0 1209.1 1258.7 1250.1 1226.7 1209.1 1189.7 11

 12 FL614122005 Debt securities 1080.3 953.4 886.3 836.4 858.8 848.6 854.9 836.4 841.4 12

 13 FL613169100 Open market paper 117.8 66.9 71.4 72.2 67.8 69.1 69.3 72.2 69.0 13

 14 FL613163005 Corporate bonds 962.6 886.6 814.9 764.3 791.0 779.6 785.6 764.3 772.4 14

 15 FL614123005 Loans 141.2 159.5 159.5 148.1 158.0 156.7 157.2 148.1 150.0 15

 16 FL613168003 Depository institution loans n.e.c. 139.1 155.8 156.0 144.7 154.7 153.6 154.0 144.7 146.7 16

 17 FL613169005 Other loans and advances 2.1 3.7 3.5 3.4 3.3 3.1 3.3 3.4 3.3 17

 18 FL613178005 Taxes payable 7.8 7.6 7.9 19.7 7.7 7.8 6.8 19.7 19.0 18

 19 LM613192003 Foreign direct investment in U.S. 84.3 66.2 66.8 44.6 68.1 67.9 67.8 44.6 44.0 19

 20 FL613190005 Miscellaneous liabilities 208.8 199.1 168.5 160.3 166.1 169.1 139.9 160.3 135.3 20

 21 FL613194003 Investment by parent 162.7 156.6 132.6 139.2 130.5 133.9 128.3 139.2 133.2 21

 22 FL613193005 Other 46.0 42.5 35.9 21.2 35.6 35.3 11.7 21.2 2.1 22

 Memo:

 23 FL613066303 Consumer leases not included above (2) 188.9 176.1 189.5 193.2 189.3 191.1 192.5 193.2 192.8 23

(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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL644090005 Total financial assets 724.7 658.8 675.4 747.0 682.6 687.8 729.9 747.0 746.3 1

 2 FL643020005 Checkable deposits and currency 38.5 35.7 37.7 40.5 42.6 40.0 47.0 40.5 36.0 2

 3 FL644022005 Debt securities 312.0 267.3 240.9 293.3 250.1 255.3 282.6 293.3 286.5 3

 4 FL643061773 Agency- and GSE-backed securities 277.8 228.1 200.7 251.2 208.6 214.0 241.0 251.2 243.6 4

 5 FL643063005 Corporate and foreign bonds 34.2 39.2 40.2 42.1 41.5 41.3 41.7 42.1 42.9 5

 6 FL643065005 Loans (mortgages) 247.3 217.7 227.8 233.5 224.0 225.3 223.7 233.5 232.7 6

 7 FL643065105 Home 44.0 46.1 60.3 66.6 62.0 67.9 67.4 66.6 63.2 7

 8 FL643065405 Multifamily residential 5.1 4.8 4.6 5.8 4.9 5.1 5.1 5.8 5.9 8

 9 FL643065505 Commercial 198.2 166.8 162.8 161.1 157.0 152.3 151.1 161.1 163.6 9

 10 FL643090005 Miscellaneous assets 126.9 138.1 169.0 179.7 165.9 167.2 176.7 179.7 191.2 10

 11 FL644190005 Total liabilities 1021.5 995.5 1007.7 1085.4 1014.5 1025.7 1060.8 1085.4 1083.8 11

 12 FL642151073 Security repurchase agreements 265.5 220.0 209.4 260.4 215.5 218.8 245.6 260.4 260.8 12

 13 FL644122005 Debt securities 403.3 395.5 417.3 438.6 422.2 425.5 428.7 438.6 445.2 13

 14 FL643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL643163005 Corporate bonds 403.3 395.5 417.3 438.6 422.2 425.5 428.7 438.6 445.2 15

 16 FL644123005 Loans 270.4 299.6 284.3 285.2 282.5 283.4 279.1 285.2 281.1 16

 17 FL643168005 Depository institution loans n.e.c. 33.1 40.4 31.2 35.9 32.4 33.9 32.9 35.9 37.1 17

 18 FL643169373 Other loans and advances 5.9 23.8 16.6 9.8 12.3 11.9 10.7 9.8 9.5 18

 19 FL643165005 Mortgages 231.4 235.4 236.5 239.5 237.8 237.7 235.5 239.5 234.6 19

 20 FL643193005 Miscellaneous liabilities 82.3 80.4 96.7 101.2 94.3 98.0 107.5 101.2 96.7 20

 Memo:

 21 FL643065045 Securitized assets included above 172.5 143.0 134.2 109.8 124.6 116.8 112.2 109.8 111.7 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 FL643065143 Home mortgages 23.1 33.1 35.8 30.0 33.3 34.0 32.9 30.0 30.4 23

 24 FL643065443 Multifamily residential mortgages 3.3 3.1 2.3 3.5 2.7 2.9 3.0 3.5 3.5 24

 25 FL643065543 Commercial mortgages 146.2 106.8 96.1 76.3 88.5 79.8 76.3 76.3 77.9 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL644090085 Total financial assets 157.2 163.6 174.8 216.0 193.7 194.8 209.6 216.0 212.6 1

 2 FL643020083 Checkable deposits and currency 26.3 24.1 27.0 31.7 32.7 30.5 38.0 31.7 27.7 2

 3 FL643063083 Debt securities (corporate and foreign bonds) 5.2 4.8 5.2 7.2 6.1 6.1 6.5 7.2 7.7 3

 4 FL643065085 Loans (mortgages) 25.4 25.5 20.8 33.0 24.6 24.5 24.8 33.0 30.6 4

 5 FL643065183 Home 0.2 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 5

 6 FL643065483 Multifamily residential 0.3 0.3 0.5 0.7 0.5 0.6 0.7 0.7 0.7 6

 7 FL643065583 Commercial 24.9 24.9 20.1 32.0 23.8 23.6 23.8 32.0 29.5 7

 8 FL643093085 Miscellaneous assets 100.2 109.2 121.8 144.1 130.3 133.7 140.2 144.1 146.7 8

 9 FL644190085 Total liabilities 538.7 583.9 610.6 659.9 625.4 635.2 647.0 659.9 658.0 9

 10 FL643163083 Debt securities (corporate bonds) 212.5 243.0 268.1 305.5 281.4 289.7 298.6 305.5 311.3 10

 11 FL644123085 Loans 261.4 272.5 264.3 270.6 267.4 267.1 266.1 270.6 267.6 11

 12 FL643168083 Depository institution loans n.e.c. 30.0 37.1 27.8 31.0 29.6 29.4 30.6 31.0 33.0 12

 13 FL643165005 Mortgages 231.4 235.4 236.5 239.5 237.8 237.7 235.5 239.5 234.6 13

 14 FL643165483 Multifamily residential 31.1 30.8 33.1 28.4 31.2 30.0 28.8 28.4 27.6 14

 15 FL643165583 Commercial 200.4 204.7 203.4 211.1 206.6 207.7 206.7 211.1 207.0 15

 16 FL643193085 Miscellaneous liabilities 64.8 68.4 78.2 83.8 76.6 78.4 82.3 83.8 79.0 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 567.5 495.2 500.5 531.1 488.9 493.0 520.4 531.1 533.8 1

 2 FL643020073 Checkable deposits and currency 12.2 11.6 10.7 8.8 9.9 9.5 8.9 8.8 8.3 2

 3 FL644022075 Debt securities 306.8 262.5 235.7 286.1 244.0 249.2 276.1 286.1 278.8 3

 4 FL643061773 Agency- and GSE-backed securities 277.8 228.1 200.7 251.2 208.6 214.0 241.0 251.2 243.6 4

 5 FL643063073 Corporate and foreign bonds 29.0 34.4 35.0 34.9 35.4 35.2 35.1 34.9 35.2 5

 6 FL643065075 Loans (mortgages) 221.9 192.2 206.9 200.6 199.4 200.8 198.9 200.6 202.1 6

 7 FL643065173 Home 43.8 45.9 60.1 66.3 61.7 67.7 67.1 66.3 62.9 7

 8 FL643065473 Multifamily residential 4.8 4.5 4.1 5.1 4.4 4.5 4.5 5.1 5.1 8

 9 FL643065573 Commercial 173.2 141.8 142.7 129.1 133.2 128.6 127.3 129.1 134.1 9

 10 FL643090075 Miscellaneous assets 26.7 28.8 47.3 35.6 35.6 33.5 36.5 35.6 44.5 10

 11 FL644190075 Total liabilities 482.8 411.6 397.1 425.6 389.1 390.5 413.9 425.6 425.8 11

 12 FL642151073 Security repurchase agreements 265.5 220.0 209.4 260.4 215.5 218.8 245.6 260.4 260.8 12

 13 FL644122075 Debt securities 190.8 152.5 149.3 133.1 140.8 135.8 130.1 133.1 133.9 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 190.8 152.5 149.3 133.1 140.8 135.8 130.1 133.1 133.9 15

 16 FL644123075 Loans 9.0 27.1 20.0 14.7 15.1 16.3 13.0 14.7 13.5 16

 17 FL643168073 Depository institution loans n.e.c. 3.1 3.3 3.3 4.8 2.8 4.5 2.3 4.8 4.1 17

 18 FL643169373 Other loans and advances 5.9 23.8 16.6 9.8 12.3 11.9 10.7 9.8 9.5 18

 19 FL643193075 Miscellaneous liabilities 17.5 12.0 18.5 17.4 17.7 19.5 25.2 17.4 17.7 19

 Memo:

 20 FL643065045 Securitized assets included above 172.5 143.0 134.2 109.8 124.6 116.8 112.2 109.8 111.7 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 FL643065143 Home mortgages 23.1 33.1 35.8 30.0 33.3 34.0 32.9 30.0 30.4 22

 23 FL643065443 Multifamily residential mortgages 3.3 3.1 2.3 3.5 2.7 2.9 3.0 3.5 3.5 23

 24 FL643065543 Commercial mortgages 146.2 106.8 96.1 76.3 88.5 79.8 76.3 76.3 77.9 24
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L.130 Security Brokers and Dealers

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL664090005 Total financial assets 3254.7 3044.0 3022.5 3248.9 3078.7 3214.8 3112.7 3248.9 3273.3 1

 2 FL663020003 Checkable deposits and currency 111.8 106.1 119.2 112.0 126.9 120.3 119.5 112.0 119.3 2

 3 FL662051003 Security repurchase agreements 1152.7 1133.3 1112.7 1134.7 1098.9 1164.7 1103.6 1134.7 1063.9 3

 4 FL664022005 Debt securities 337.3 300.6 305.6 337.4 329.6 350.2 303.0 337.4 357.9 4

 5 FL663069103 Open market paper 20.8 19.5 13.8 12.5 11.7 11.9 11.7 12.5 13.6 5

 6 FL663061105 Treasury securities 60.2 65.3 97.6 160.4 107.8 128.5 126.7 160.4 176.5 6

 7 FL663061703 Agency- and GSE-backed securities 121.9 109.7 93.2 83.2 106.9 113.5 87.6 83.2 84.2 7

 8 FL663062003 Municipal securities 18.9 14.0 21.0 17.2 19.7 21.2 17.3 17.2 18.6 8

 9 FL663063005 Corporate and foreign bonds 115.5 92.1 80.0 64.2 83.4 75.1 59.7 64.2 65.0 9

 10 FL663069005 Loans (other loans and advances) 428.2 338.1 329.7 375.4 335.0 355.9 364.6 375.4 382.7 10

 11 LM663064103 Corporate equities 187.8 166.8 176.1 224.0 169.0 187.7 198.5 224.0 232.7 11

 12 LM663092003 U.S. direct investment abroad 236.4 212.7 225.3 237.1 227.8 230.7 230.4 237.1 236.2 12

 13 FL663090005 Miscellaneous assets 800.6 786.6 754.0 828.4 791.5 805.3 793.1 828.4 880.7 13

 14 FL664190005 Total liabilities 3044.9 2833.1 2812.8 3034.9 2864.1 2998.6 2889.3 3034.9 3063.8 14

 15 FL662151003 Security repurchase agreements 1547.7 1368.3 1313.1 1397.6 1359.9 1442.3 1351.5 1397.6 1485.1 15

 16 FL663163003 Debt securities (corporate bonds) 123.9 131.3 129.1 184.1 129.7 165.8 175.5 184.1 186.3 16

 17 FL664123005 Loans 962.5 913.2 921.3 913.3 941.6 944.7 926.4 913.3 892.1 17

 18 FL663168005 Depository institution loans n.e.c. (1) 93.5 92.5 104.4 122.3 107.9 112.9 118.9 122.3 123.1 18

 19 FL153067005 Other loans and advances 869.0 820.6 817.0 791.1 833.8 831.8 807.5 791.1 769.1 19

 20 FL663170003 Trade payables 17.9 26.3 36.7 32.5 35.3 32.2 34.6 32.5 34.5 20

 21 FL663178005 Taxes payable 4.0 3.2 3.3 16.3 3.9 4.1 4.8 16.3 17.3 21

 22 LM663192005 Foreign direct investment in U.S. 151.9 159.1 61.1 89.1 63.1 69.2 66.0 89.1 90.0 22

 23 FL663190005 Miscellaneous liabilities 236.9 231.7 348.1 402.0 330.6 340.4 330.5 402.0 358.5 23

 24 FL663194005 Investment by parent companies 1708.0 1697.7 1847.7 1692.1 1713.7 1665.5 1702.2 1692.1 1711.0 24

 25 FL663193005 Other -1471.1 -1466.0 -1499.5 -1290.0 -1383.1 -1325.0 -1371.7 -1290.0 -1352.5 25

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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L.131 Holding Companies (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL734090005 Total financial assets 4390.8 3955.9 4330.3 4657.4 4404.9 4605.8 4659.5 4657.4 4672.5 1

 2 FL733030003 Time and savings deposits 27.0 19.1 17.1 12.9 10.3 12.1 10.8 12.9 10.6 2

 3 FL732051003 Security repurchase agreements 2.5 2.1 2.1 5.6 2.4 9.7 9.6 5.6 4.5 3

 4 FL734022605 Debt securities 76.0 55.3 58.8 67.4 55.9 72.7 59.5 67.4 79.5 4

 5 FL733061103 Treasury securities 13.9 10.2 9.8 12.6 13.0 19.9 6.7 12.6 16.3 5

 6 FL733061703 Agency- and GSE-backed securities 28.0 23.7 25.1 15.6 23.5 16.7 16.3 15.6 23.4 6

 7 FL733063003 Corporate and foreign bonds 34.1 21.5 24.0 39.2 19.3 36.0 36.5 39.2 39.8 7

 8 FL733069005 Loans (other loans and advances) 64.8 24.0 22.6 123.1 103.9 103.7 114.3 123.1 121.1 8

 9 FL733040005 Life insurance reserves 45.0 49.0 53.0 57.0 54.0 55.0 56.0 57.0 58.0 9

 10 FL733090005 Miscellaneous assets 4175.5 3806.4 4176.8 4391.4 4178.3 4352.6 4409.3 4391.4 4398.7 10

 11 FL763194735 Net trans. with depository subs. 2133.2 2175.3 2285.8 2377.1 2329.5 2356.5 2401.3 2377.1 2346.6 11

 12 FL513194733 Net trans. with property-casualty ins. co. subs. 5.3 4.5 4.3 4.8 3.9 4.4 4.6 4.8 5.3 12

 13 FL543194733 Net trans. with life insurance company subs. 11.5 12.0 13.3 15.8 13.6 14.3 14.7 15.8 15.1 13

 14 FL613194733 Net trans. with finance company subs. 54.0 45.3 34.4 28.4 32.3 31.6 28.4 28.4 20.6 14

 15 FL663194735 Net trans. with broker and dealer subs. 1100.6 1042.7 1156.4 1029.0 1010.1 994.2 1035.7 1029.0 1035.2 15

 16 FL263194735 Net trans. with foreign subs. 83.3 76.4 76.8 73.1 78.1 87.5 78.9 73.1 95.8 16

 17 FL733093005 Other 787.6 450.1 605.7 863.2 710.8 864.2 845.7 863.2 880.1 17

 18 FL734190005 Total liabilities 2102.6 1621.8 1905.9 2321.6 2034.0 2253.7 2285.3 2321.6 2312.8 18

 19 FL732151003 Security repurchase agreements 0.0 0.1 0.1 0.1 0.0 0.0 0.1 0.1 0.2 19

 20 FL734122005 Debt securities 1394.3 1212.8 1344.9 1448.7 1359.4 1411.3 1459.6 1448.7 1435.6 20

 21 FL733169103 Commercial paper 77.0 5.7 2.2 4.4 3.3 3.3 4.3 4.4 3.0 21

 22 FL733163003 Corporate bonds 1317.4 1207.1 1342.7 1444.2 1356.1 1408.0 1455.3 1444.2 1432.7 22

 23 FL733192003 Foreign direct investment in U.S. (2) 0.0 17.5 158.9 170.1 166.8 170.8 178.2 170.1 168.2 23

 24 FL733193005 Miscellaneous liabilities 708.2 391.4 402.0 702.8 507.8 671.5 647.4 702.8 708.8 24

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.

(2) Foreign direct investment is equity investment in U.S. Intermediate Holding Companies established in accordance with Section 165 of the Dodd-Frank Wall Street Reform and Consumer

 Protection Act.
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110 Z.1, June 7, 2018

L.132 Funding Corporations (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL504090005 Total financial assets 1268.8 1385.7 1604.4 1671.0 1654.1 1576.2 1662.0 1671.0 1804.1 1

 2 FL503034003 Money market fund shares 493.5 477.1 575.0 653.8 549.6 555.1 599.0 653.8 709.0 2

 3 FL502051003 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FL504022005 Debt securities 52.6 135.3 222.3 255.0 273.9 237.6 293.4 255.0 315.2 4

 5 FL503069105 Open market paper -21.8 62.3 153.4 178.9 200.0 163.0 220.1 178.9 233.7 5

 6 FL503063005 Corporate and foreign bonds 74.4 73.0 69.0 76.1 73.8 74.6 73.3 76.1 81.5 6

 7 FL503069805 Loans (other loans and advances) 12.1 12.9 16.0 19.4 16.9 23.2 21.6 19.4 13.5 7

 8 FL503064105 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FL503094505 Miscellaneous assets 710.6 760.3 791.0 742.8 813.8 760.4 748.0 742.8 766.5 9

 10 FL753194503 Investment in foreign banking offices 103.2 105.4 99.8 79.7 110.1 89.1 81.5 79.7 90.7 10

 11 FL663194505 Investment in brokers and dealers 607.3 654.9 691.3 663.1 703.7 671.3 666.5 663.1 675.8 11

 12 FL504190005 Total liabilities 1268.8 1385.7 1604.4 1671.0 1654.1 1576.2 1662.0 1671.0 1804.1 12

 13 FL504122005 Debt securities 644.0 755.5 793.3 744.3 819.4 773.1 757.6 744.3 776.8 13

 14 FL503169105 Open market paper 48.8 134.1 136.1 108.3 154.3 135.7 121.5 108.3 134.6 14

 15 FL503163005 Corporate bonds 595.1 621.4 657.2 636.0 665.1 637.4 636.1 636.0 642.2 15

 16 FL504123005 Loans 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 16

 17 FL713068505 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL503169205 Other loans and advances (4) 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 18

 19 FL503192003 Foreign direct investment in U.S. 13.8 14.4 15.0 15.6 15.2 15.3 15.5 15.6 15.8 19

 20 FL503190005 Miscellaneous liabilities 608.7 613.4 793.7 908.7 817.2 785.5 886.5 908.7 1009.3 20

 21 FL663097005 Securities loaned (net) 720.6 706.8 666.3 737.1 714.8 722.4 709.9 737.1 791.6 21

 22 LM503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL503193005 Other (net) -112.0 -93.4 127.4 171.6 102.3 63.1 176.6 171.6 217.7 23

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
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Z.1, June 7, 2018 111

L.133 Rest of the World

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL264090005 Total financial assets 22981.1 22951.8 24152.6 26896.7 24873.5 25595.1 26327.4 26896.7 26900.8 1

 2 LM313111303 SDR allocations 51.2 48.9 47.5 50.3 47.9 49.1 49.9 50.3 51.3 2

 3 FL264016005 Net interbank assets 257.5 197.9 57.5 157.2 105.5 91.7 126.7 157.2 127.9 3

 4 FL263020005 U.S. checkable deposits and currency 674.2 706.8 767.9 847.7 794.7 812.8 834.3 847.7 870.5 4

 5 FL263030005 U.S. time deposits 499.2 480.2 553.0 570.7 571.8 590.8 589.3 570.7 572.2 5

 6 FL263034003 Money market fund shares 105.3 107.6 108.3 113.1 105.8 104.6 109.1 113.1 110.9 6

 7 FL262051003 Security repurchase agreements 811.1 665.8 732.6 776.3 754.6 770.5 754.5 776.3 746.8 7

 8 FL264022005 Debt securities 10173.8 10337.3 10659.8 11423.0 10773.3 11116.7 11366.2 11423.0 11441.0 8

 9 LM263069103 Open market paper 107.9 104.3 140.8 136.9 134.3 139.3 126.6 136.9 156.7 9

 10 LM263061105 Treasury securities 6157.7 6146.2 6006.3 6310.3 6079.0 6171.6 6323.0 6310.3 6319.0 10

 11 LM263061110 Treasury bills 671.6 724.7 672.4 727.8 673.0 698.7 703.2 727.8 741.4 11

 12 LM263061120 Other Treasury securities 5486.0 5421.5 5333.9 5582.5 5406.0 5472.8 5619.8 5582.5 5577.7 12

 13 LM263061705 Agency- and GSE-backed securities 899.6 916.5 987.9 1009.9 968.0 989.9 1005.3 1009.9 1023.2 13

 14 FL263062003 Municipal securities 80.6 87.0 94.3 101.5 95.5 98.6 100.2 101.5 100.5 14

 15 LM263063005 U.S. corporate bonds (1) 2928.0 3083.3 3430.5 3864.4 3496.4 3717.2 3811.1 3864.4 3841.6 15

 16 FL263069500 Loans to U.S. corporate business 170.6 207.5 203.3 260.3 220.2 240.2 250.6 260.3 269.2 16

 17 LM263064105 U.S. corporate equities 5920.6 5500.9 5768.9 7035.6 6177.1 6311.5 6667.3 7035.6 7002.2 17

 18 LM263064203 Mutual fund shares 616.6 600.6 686.7 809.9 719.0 782.9 783.0 809.9 801.7 18

 19 LM263070003 Trade receivables 160.3 168.4 175.5 193.7 184.2 185.0 191.4 193.7 198.6 19

 20 LM263092001 Foreign direct investment in U.S. (2) 3540.7 3929.7 4391.6 4658.9 4419.4 4539.1 4605.1 4658.9 4708.5 20

 21 FL264190005 Total liabilities 10765.5 10667.6 11105.5 12250.7 11460.5 11717.0 12026.4 12250.7 12254.8 21

 22 LM263111005 U.S. official reserve assets (3) 118.9 106.4 106.1 112.1 107.6 110.8 112.7 112.1 115.3 22

 23 LM263191005 U.S. private deposits 826.3 579.5 489.8 716.5 553.7 605.3 690.6 716.5 745.5 23

 24 FL262151003 Security repurchase agreements 709.1 785.4 900.7 868.2 914.4 907.8 882.9 868.2 852.3 24

 25 FL264122005 Debt securities 2866.9 2753.4 2818.4 3306.8 2946.5 3045.7 3178.1 3306.8 3392.1 25

 26 FL263169105 Commercial paper 437.6 492.3 430.6 521.2 463.2 471.8 528.1 521.2 567.4 26

 27 LM263163005 Bonds 2429.3 2261.1 2387.8 2785.6 2483.3 2573.9 2650.1 2785.6 2824.6 27

 28 FL264123005 Loans 414.3 469.8 504.7 535.2 512.7 524.8 535.9 535.2 544.4 28

 29 FL263168005 Depository institution loans n.e.c. 380.3 435.9 472.9 481.5 463.9 476.8 486.4 481.5 487.4 29

 30 FL263169005 Other loans and advances 34.0 33.8 31.8 53.7 48.8 48.0 49.4 53.7 57.0 30

 31 LM263170003 Trade payables 47.0 44.8 45.4 51.6 49.3 50.2 51.7 51.6 45.8 31

 32 LM263192005 U.S. direct investment abroad (1,2) 5633.1 5783.7 6088.7 6505.1 6223.9 6312.4 6421.9 6505.1 6388.5 32

 33 FL263190005 Miscellaneous liabilities 149.8 144.6 151.6 155.1 152.5 159.9 152.6 155.1 170.8 33

 34 FL313092803 U.S. equity in IBRD, etc. 62.4 64.6 66.6 67.4 66.7 66.7 67.4 67.4 67.4 34

 35 FL263191103 Nonofficial foreign currencies 4.2 3.6 8.2 14.7 7.7 5.7 6.2 14.7 7.6 35

 36 FL263194735 Investment by holding companies 83.3 76.4 76.8 73.1 78.1 87.5 78.9 73.1 95.8 36

 Memo:

 Market value of foreign equities

 37 LM263164103 held by U.S. residents (4) 6770.6 6756.2 6997.0 9027.0 7568.6 8068.2 8622.1 9027.0 8916.4 37

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

(2) Direct investment is valued on a current-cost basis.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
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112 Z.1, June 7, 2018

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 LM893111005 Total liabilities 170.0 155.4 153.6 162.4 155.5 160.0 162.6 162.4 166.7 1

 2 LM313111303 Federal government: SDR allocations 51.2 48.9 47.5 50.3 47.9 49.1 49.9 50.3 51.3 2

 3 LM263111005 Rest of the world 118.9 106.4 106.1 112.1 107.6 110.8 112.7 112.1 115.3 3

 4 LM313011303 SDR holdings 51.9 49.7 48.9 51.9 49.3 50.6 51.4 51.9 53.0 4

 5 LM263111403 Reserve position in IMF 25.2 17.6 18.4 17.6 18.3 18.8 19.0 17.6 18.1 5

 6 LM263111503 Other reserves 41.8 39.1 38.9 42.6 39.9 41.4 42.2 42.6 44.3 6

 7 FL893011005 Total assets 181.1 166.4 164.7 173.4 166.5 171.0 173.6 173.4 177.7 7

 8 FL313011005 Federal government 98.0 86.9 86.8 91.0 87.7 90.2 91.8 91.0 93.3 8

 9 FL313011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM313011303 SDR holdings 51.9 49.7 48.9 51.9 49.3 50.6 51.4 51.9 53.0 10

 11 LM313011405 Reserve position in IMF 25.3 17.7 18.7 17.9 18.6 19.1 19.3 17.9 18.3 11

 12 LM313011505 Other reserves 20.7 19.5 19.3 21.2 19.8 20.5 21.0 21.2 21.9 12

 13 LM313111303 Rest of the world: SDR allocations 51.2 48.9 47.5 50.3 47.9 49.1 49.9 50.3 51.3 13

 14 FL713011005 Monetary authority 32.0 30.5 30.4 32.2 30.9 31.6 32.0 32.2 33.1 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 -0.1 -0.1 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 16

 17 LM713011505 Other reserves 21.1 19.6 19.6 21.4 20.2 20.9 21.2 21.4 22.3 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 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 3

 4 FL713012003 Asset: Monetary authority 46.3 47.6 48.5 49.4 48.8 49.0 49.2 49.4 49.5 4

 5 FL903012005 Discrepancy (seigniorage) -21.0 -22.2 -23.2 -24.1 -23.5 -23.7 -23.9 -24.1 -24.2 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 826.3 579.5 489.8 716.5 553.7 605.3 690.6 716.5 745.5 1

 Held by:

 2 LM153091003 Household sector 45.6 31.2 25.6 36.5 28.7 30.8 35.2 36.5 38.0 2

 3 FL103091003 Nonfinancial corporate business 107.2 87.1 90.7 197.0 84.6 103.2 194.8 197.0 199.8 3

 4 FL633091003 Money market funds 24.5 11.1 1.9 3.7 3.6 3.3 5.5 3.7 1.2 4

 5 FL903091005 Discrepancy--unallocated assets 648.9 450.1 371.6 479.3 436.9 468.0 455.1 479.3 506.4 5
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Z.1, June 7, 2018 113

L.203 Net Interbank Transactions

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL794110005 Total liabilities 2627.3 2183.1 1833.8 2168.1 2321.4 2125.7 2246.8 2168.1 2291.2 1

 2 FL714110005 Monetary authority 2428.5 2039.5 1830.2 2026.2 2219.5 2050.2 2138.9 2026.2 2175.3 2

 3 FL764110005 U.S.-chartered depository institutions 161.3 119.1 29.5 52.1 76.1 72.7 56.6 52.1 -30.5 3

 4 FL754110005 Foreign banking offices in U.S. 90.2 71.5 22.0 133.5 65.8 46.9 94.3 133.5 184.0 4

 5 FL744110005 Banks in U.S.-affiliated areas -1.3 -1.3 -1.3 -1.3 -1.3 -1.2 -1.7 -1.3 -1.2 5

 6 FL474110005 Credit unions -51.3 -45.7 -46.5 -42.4 -38.7 -42.8 -41.5 -42.4 -36.4 6

 7 FL894010005 Total assets 2685.6 2237.5 1886.9 2182.6 2324.4 2141.4 2265.1 2182.6 2302.5 7

 8 FL714010005 Monetary authority -0.4 0.1 -0.7 -0.8 -0.6 -0.5 -0.5 -0.8 -0.7 8

 9 FL763020005 U.S.-chartered depository institutions 1478.3 1279.1 1190.5 1239.1 1393.3 1264.2 1276.3 1239.1 1296.3 9

 10 FL753020005 Foreign banking offices in U.S. 888.8 690.4 567.8 710.1 728.9 704.6 782.5 710.1 777.0 10

 11 FL743013003 Banks in U.S.-affiliated areas 4.0 3.8 4.7 7.8 5.5 6.5 7.7 7.8 9.4 11

 12 FL473013005 Credit unions 57.4 66.2 67.2 69.3 91.9 74.8 72.4 69.3 92.6 12

 13 FL264016005 Rest of the world 257.5 197.9 57.5 157.2 105.5 91.7 126.7 157.2 127.9 13

 14 FL904010005 Discrepancy -58.2 -54.4 -53.1 -14.5 -3.0 -15.7 -18.3 -14.5 -11.3 14

 Memo:

 Vault cash:

 15 FL703025005 Liab.: Monetary authority 75.7 74.2 76.0 77.2 70.2 70.8 68.5 77.2 68.2 15

 16 FL763025000 Asset: U.S.-chartered depository institutions 75.6 74.2 76.0 77.2 70.2 70.8 68.5 77.2 68.2 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 2352.8 1965.2 1754.2 1949.0 2149.3 1979.4 2070.4 1949.0 2107.1 18

 19 FL763013005 Asset: U.S.-chartered depository institutions 1402.7 1204.9 1114.6 1161.9 1323.1 1193.5 1207.8 1161.9 1228.0 19

 20 FL753013003 Foreign banking offices in U.S. 888.8 690.3 567.8 710.1 728.9 704.6 782.5 710.1 777.0 20

 21 FL743013003 Banks in U.S.-affiliated areas 4.0 3.8 4.7 7.8 5.5 6.5 7.7 7.8 9.4 21

 22 FL473013005 Credit unions 57.4 66.2 67.2 69.3 91.9 74.8 72.4 69.3 92.6 22

 Other transactions with the monetary authority

 23 FL714010005 Liab: U.S.-chartered depository institutions -0.4 0.1 -0.7 -0.8 -0.6 -0.5 -0.5 -0.8 -0.7 23

 24 FL714010005 Asset: Monetary authority -0.4 0.1 -0.7 -0.8 -0.6 -0.5 -0.5 -0.8 -0.7 24

 25 FL713022003 Federal Reserve float -0.6 -0.0 -0.8 -0.9 -0.6 -0.6 -0.7 -0.9 -0.7 25

 26 FL713068705 Loans to member banks 0.1 0.1 0.1 0.1 0.0 0.1 0.2 0.1 0.0 26

 Transactions with banks in foreign countries (net):

 27 FL764116205 Liab.: U.S.-chartered depository institutions (net) 238.2 200.7 105.9 84.1 109.5 113.4 93.8 84.1 -0.5 27

 28 FL763192605 Due to foreign affiliates 485.7 458.9 353.1 384.9 343.6 391.6 375.2 384.9 321.2 28

 29 FL763092605 - Due from foreign affiliates 247.5 258.1 247.2 300.8 234.1 278.3 281.4 300.8 321.7 29

 30 FL754116205 Foreign banking offices in U.S. (net) 117.8 94.1 35.2 159.0 75.3 57.2 113.8 159.0 213.0 30

 31 FL753192605 Due to foreign affiliates 1067.5 936.7 901.4 1017.4 950.9 940.2 988.3 1017.4 1027.6 31

 32 FL753092605 - Due from foreign affiliates 949.7 842.6 866.2 858.4 875.7 883.0 874.5 858.4 814.6 32

 33 FL264116205 Less: Deposits at foreign banks 21.4 18.7 28.6 28.0 27.2 27.6 28.1 28.0 29.1 33

 34 FL764016205 U.S.-chartered depository institutions 12.2 9.7 12.5 14.4 13.6 13.3 13.6 14.4 16.6 34

 35 FL754016205 Foreign banking offices in U.S. 9.2 9.1 16.1 13.6 13.6 14.2 14.5 13.6 12.4 35

 36 FL264135125 Loans to foreign banks 89.8 91.0 74.2 75.1 74.0 70.4 72.0 75.1 74.0 36

 37 FL764035125 U.S.-chartered depository institutions 39.5 41.2 31.8 28.9 29.2 27.3 27.3 28.9 27.7 37

 38 FL754035125 Foreign banking offices in U.S. 50.3 49.8 42.4 46.3 44.9 43.1 44.7 46.3 46.3 38

 39 FL264035125 Plus: Loans from foreign banks 12.7 12.8 19.2 17.3 21.9 19.1 19.1 17.3 18.4 39

 40 FL274135123 U.S.-chartered depository institutions 4.1 4.9 8.6 8.9 10.4 9.0 8.8 8.9 8.8 40

 41 FL284135125 Foreign banking offices in U.S. 8.6 7.9 10.6 8.4 11.5 10.1 10.4 8.4 9.6 41

 42 FL264016005 Asset: Rest of the world (1) 257.5 197.9 57.5 157.2 105.5 91.7 126.7 157.2 127.9 42

 Transactions between U.S. depository institutions (net):

 43 FL764112005 U.S.-chartered depository institutions (net) -28.9 -35.7 -40.0 3.1 -0.4 -8.6 -4.5 3.1 6.2 43

 44 FL764112205 Due to (3): 22.0 15.6 20.8 53.7 64.6 56.7 50.8 53.7 55.6 44

 45 FL754012205 Foreign banking offices in U.S. 27.6 23.0 26.0 24.6 27.6 28.3 26.0 24.6 29.3 45

 46 FL743020005 Banks in U.S.-affiliated areas 1.3 1.3 1.3 1.3 1.3 1.2 1.7 1.3 1.2 46

 47 FL474012205 Credit unions 51.3 45.7 46.5 42.4 38.7 42.8 41.5 42.4 36.4 47

 48 FL754112205 - Due from: Foreign banking offices in U.S. 50.9 51.3 60.8 50.6 65.0 65.3 55.3 50.6 49.4 48

 49 FL904010005 Unallocated (2) -58.2 -54.4 -53.1 -14.5 -3.0 -15.7 -18.3 -14.5 -11.3 49

(1) Sum of lines 27 and 30 less line 33 and line 36 plus line 39.

(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 49), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 45, 46, 47, and 49.
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114 Z.1, June 7, 2018

L.204 Checkable Deposits and Currency

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL793120005 Total liabilities 3575.5 3830.8 4109.9 4214.4 3950.3 4087.3 4035.0 4214.4 4351.8 1

 2 FL713120005 Monetary authority 1554.3 1721.9 1881.1 1819.7 1601.8 1707.7 1710.0 1819.7 1884.9 2

 3 FL713123005 Federal government cash and deposits 223.7 333.7 399.4 229.1 92.5 181.3 159.5 229.1 290.0 3

 4 FL713124005 Due to government-sponsored enterprises 58.1 32.2 43.1 44.4 38.3 30.0 34.5 44.4 21.1 4

 5 FL713122605 Deposits due to foreign 5.3 5.2 5.2 5.3 5.2 5.2 5.2 5.3 5.3 5

 6 FL713125005 Currency outside banks 1267.3 1350.7 1433.5 1540.8 1465.8 1491.1 1510.7 1540.8 1568.5 6

 7 FL763127005 U.S.-chartered depository institutions 1716.1 1766.4 1879.6 1995.8 1969.0 1990.3 1943.0 1995.8 2059.0 7

 8 FL763123005 Federal government deposits 2.5 2.3 2.2 1.9 2.2 2.0 2.0 1.9 2.3 8

 9 FL763122605 Deposits due to foreign 56.5 43.6 58.7 58.7 60.5 57.9 70.0 58.7 64.5 9

 10 FL763129205 Private domestic deposits 1657.0 1720.4 1818.8 1935.2 1906.3 1930.4 1870.9 1935.2 1992.2 10

 11 FL753127005 Foreign banking offices in U.S. 137.8 154.1 151.3 185.4 170.4 176.9 174.0 185.4 178.6 11

 12 FL753122603 Deposits due to foreign 54.2 61.4 65.1 75.1 69.4 74.2 67.7 75.1 75.2 12

 13 FL753129205 Private domestic deposits 83.6 92.8 86.2 110.3 101.0 102.7 106.3 110.3 103.4 13

 14 FL743127003 Banks in U.S.-affiliated areas 33.4 35.0 40.8 41.1 41.9 43.0 39.2 41.1 42.6 14

 15 FL473127003 Credit unions 133.9 153.4 157.1 172.4 167.1 169.3 168.8 172.4 186.8 15

 16 FL793120005 Total assets 3575.5 3830.8 4109.9 4214.4 3950.3 4087.3 4035.0 4214.4 4351.8 16

 17 FL153020005 Household sector 1153.2 1181.6 1108.8 1151.5 1196.4 1165.9 1076.5 1151.5 1188.3 17

 18 FL143020005 Nonfinancial business 1017.6 1126.2 1311.5 1455.7 1353.4 1425.6 1427.5 1455.7 1510.3 18

 19 FL103020005 Corporate 770.8 838.1 998.6 1142.7 1042.9 1114.7 1118.5 1142.7 1193.1 19

 20 FL113020005 Noncorporate 246.8 288.0 312.8 312.9 310.5 311.0 309.0 312.9 317.2 20

 21 FL313020005 Federal government 226.8 338.1 404.0 232.0 96.8 184.8 162.9 232.0 291.7 21

 22 FL213020005 State and local governments 110.2 97.9 92.6 96.2 94.1 92.2 84.1 96.2 97.2 22

 23 FL793020005 Domestic financial sectors 391.8 379.9 424.6 428.2 414.4 403.8 447.6 428.2 390.2 23

 24 FL513020003 Property-casualty insurance companies 36.5 33.8 26.6 30.5 27.5 27.5 37.4 30.5 32.5 24

 25 FL543020005 Life insurance companies 57.1 65.9 69.4 86.1 70.3 78.2 78.4 86.1 83.3 25

 26 FL573020005 Private pension funds 18.8 19.6 21.3 23.5 22.0 22.1 22.6 23.5 23.9 26

 27 FL343020033 Federal government retirement funds 0.9 0.9 0.8 1.1 0.9 1.0 1.0 1.1 1.1 27

 28 FL223020043 State and local govt. retirement funds 35.6 39.1 50.4 44.4 49.1 48.5 50.3 44.4 42.9 28

 29 FL633020000 Money market funds -4.4 7.6 29.6 22.1 14.3 14.8 35.9 22.1 10.3 29

 30 FL403020005 Government-sponsored enterprises 65.0 41.0 48.8 49.4 41.8 33.0 37.7 49.4 23.6 30

 31 FL613020003 Finance companies 31.9 30.4 20.8 18.6 19.0 18.4 17.7 18.6 17.3 31

 32 FL643020005 REITs 38.5 35.7 37.7 40.5 42.6 40.0 47.0 40.5 36.0 32

 33 FL663020003 Brokers and dealers 111.8 106.1 119.2 112.0 126.9 120.3 119.5 112.0 119.3 33

 34 FL263020005 Rest of the world 674.2 706.8 767.9 847.7 794.7 812.8 834.3 847.7 870.5 34

 35 FL263027003 Checkable deposits 116.0 110.2 129.0 139.1 135.1 137.4 142.9 139.1 145.0 35

 36 FL263025003 Currency 558.2 596.6 638.9 708.6 659.7 675.5 691.3 708.6 725.6 36

 37 FL903020005 Mail float 1.9 0.3 0.6 3.2 0.4 2.1 2.2 3.2 3.6 37
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L.205 Time and Savings Deposits 

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL703130005 Total liabilities 10448.7 10854.9 11372.0 11692.4 11535.2 11494.8 11670.3 11692.4 11898.6 1

 2 FL763130005 U.S.-chartered depository institutions 8509.1 8993.2 9574.0 9822.1 9630.1 9569.8 9741.7 9822.1 9964.8 2

 3 FL753130005 Foreign banking offices in U.S. 1056.3 934.9 794.3 820.0 865.6 881.4 883.7 820.0 848.9 3

 4 FL743130003 Banks in U.S.-affiliated areas 46.8 43.9 46.4 41.8 46.0 45.1 41.5 41.8 42.9 4

 5 FL473130005 Credit unions 836.5 882.9 957.3 1008.6 993.5 998.5 1003.3 1008.6 1042.0 5

 6 FL703130005 Total assets 10448.7 10854.9 11372.0 11692.4 11535.2 11494.8 11670.3 11692.4 11898.6 6

 7 FL153030005 Household sector 7902.0 8389.0 9085.7 9283.5 9203.0 9130.6 9268.1 9283.5 9492.5 7

 8 FL143030005 Nonfinancial business 1001.5 1022.0 1089.3 1157.4 1102.7 1122.2 1137.5 1157.4 1172.6 8

 9 FL103030003 Corporate 152.0 144.3 163.5 167.8 162.3 165.6 166.1 167.8 168.2 9

 10 FL113030003 Noncorporate 849.5 877.7 925.9 989.6 940.4 956.6 971.4 989.6 1004.4 10

 11 FL313030003 Federal government 1.7 1.8 1.5 1.9 1.2 1.3 1.5 1.9 1.9 11

 12 FL213030005 State and local governments 356.3 370.8 377.4 391.9 371.9 367.2 372.3 391.9 385.5 12

 13 FL793030005 Domestic financial sectors 688.0 591.2 264.9 287.0 284.6 282.6 301.5 287.0 273.9 13

 14 FL573030005 Private pension funds 35.5 31.0 29.9 28.8 29.5 29.4 29.2 28.8 28.6 14

 15 FL223030043 State and local govt. retirement funds 3.1 2.4 2.9 2.6 2.9 2.8 2.9 2.6 2.5 15

 16 FL633030000 Money market funds 523.4 445.0 146.8 179.4 179.4 177.3 199.0 179.4 171.4 16

 17 FL403030005 Government-sponsored enterprises 3.3 2.5 5.9 7.6 5.5 5.9 6.5 7.6 8.8 17

 18 FL613030003 Finance companies 95.7 91.2 62.3 55.7 57.0 55.1 53.2 55.7 51.9 18

 19 FL733030003 Holding companies 27.0 19.1 17.1 12.9 10.3 12.1 10.8 12.9 10.6 19

 20 FL263030005 Rest of the world 499.2 480.2 553.0 570.7 571.8 590.8 589.3 570.7 572.2 20

L.206 Money Market Fund Shares

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

 1 FL634090005 Total assets 2724.6 2754.7 2728.1 2847.3 2664.3 2633.4 2747.7 2847.3 2793.0 1

 2 FL153034005 Household sector 1032.6 1044.0 1023.1 1053.4 1009.8 982.3 1024.9 1053.4 938.4 2

 3 FL103034003 Nonfinancial corporate business 558.2 576.8 463.9 457.5 439.6 431.7 446.0 457.5 466.9 3

 4 FL113034003 Nonfinancial noncorporate business 85.6 91.7 97.5 102.9 98.5 99.8 100.8 102.9 104.2 4

 5 FL213034003 State and local governments 166.4 172.7 182.0 190.2 183.3 182.2 185.0 190.2 191.3 5

 6 FL513034003 Property-casualty insurance companies 18.5 21.7 15.1 19.1 15.6 16.2 17.4 19.1 20.3 6

 7 FL543034005 Life insurance companies 53.7 56.3 43.5 47.2 45.2 46.0 47.7 47.2 43.8 7

 8 FL573034005 Private pension funds 155.6 151.0 151.2 149.7 150.4 149.9 149.8 149.7 149.7 8

 9 FL223034005 State and local govt. retirement funds 55.1 55.8 68.5 60.4 66.6 65.7 68.0 60.4 58.5 9

 10 FL503034003 Funding corporations 493.5 477.1 575.0 653.8 549.6 555.1 599.0 653.8 709.0 10

 11 FL263034003 Rest of the world 105.3 107.6 108.3 113.1 105.8 104.6 109.1 113.1 110.9 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL892150005 Total liabilities 3662.7 3712.5 3806.5 3844.1 3750.7 3920.1 3770.7 3844.1 3574.2 1

 2 FL712151003 Monetary authority 509.8 712.4 725.2 564.0 600.3 650.0 556.8 564.0 273.4 2

 3 FL762150005 U.S.-chartered depository institutions 236.2 196.8 162.6 170.5 158.5 162.9 166.9 170.5 157.0 3

 4 FL762152005 Federal funds (2) 38.7 39.4 33.0 46.2 30.9 33.9 41.4 46.2 44.2 4

 5 FL762151005 Security repurchase agreements 197.5 157.4 129.6 124.3 127.6 129.1 125.6 124.3 112.8 5

 6 FL752150005 Foreign banking offices in U.S. 371.3 406.6 473.3 561.6 480.0 515.6 544.8 561.6 526.0 6

 7 FL752152005 Federal funds (2) 27.2 26.9 33.8 37.1 47.3 47.4 62.1 37.1 47.1 7

 8 FL752151005 Security repurchase agreements 344.1 379.7 439.6 524.5 432.7 468.3 482.7 524.5 478.9 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 1.0 1.4 0.4 0.4 0.4 0.4 0.4 0.4 0.3 10

 11 FL542151073 Life insurance companies 21.9 21.4 21.6 21.4 21.7 22.3 21.7 21.4 19.1 11

 12 FL402150005 Government-sponsored enterprises 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL642151073 REITs 265.5 220.0 209.4 260.4 215.5 218.8 245.6 260.4 260.8 13

 14 FL662151003 Brokers and dealers 1547.7 1368.3 1313.1 1397.6 1359.9 1442.3 1351.5 1397.6 1485.1 14

 15 FL732151003 Holding companies 0.0 0.1 0.1 0.1 0.0 0.0 0.1 0.1 0.2 15

 16 FL262151003 Rest of the world 709.1 785.4 900.7 868.2 914.4 907.8 882.9 868.2 852.3 16

 17 FL892050005 Total assets 3491.2 3422.6 3594.6 3905.0 3609.6 3815.4 3741.8 3905.0 3655.8 17

 18 FL102051003 Nonfinancial corporate business 65.9 79.9 109.5 83.9 99.5 89.4 76.0 83.9 78.6 18

 19 FL212051003 State and local governments 132.8 138.3 145.7 152.4 146.8 146.0 148.2 152.4 153.2 19

 20 FL712051000 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL762050005 U.S.-chartered depository institutions 185.0 209.8 218.5 222.5 190.0 224.5 188.1 222.5 241.0 21

 22 FL762052005 Federal funds (2) 30.6 19.4 21.2 24.4 24.9 16.6 25.0 24.4 24.7 22

 23 FL762051005 Security repurchase agreements 154.4 190.4 197.3 198.0 165.1 207.9 163.2 198.0 216.2 23

 24 FL752050005 Foreign banking offices in U.S. 218.1 218.5 193.1 269.7 197.1 211.9 240.2 269.7 263.4 24

 25 FL752052005 Federal funds (2) 1.3 0.9 0.6 0.9 0.5 0.9 0.5 0.9 1.0 25

 26 FL752051005 Security repurchase agreements 216.9 217.6 192.4 268.8 196.6 211.0 239.7 268.8 262.4 26

 27 FL472050053 Credit unions 0.0 0.0 0.0 0.2 0.1 0.1 0.2 0.2 0.3 27

 28 FL472052053 Federal funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FL472051053 Security repurchase agreements 0.0 0.0 0.0 0.2 0.1 0.1 0.2 0.2 0.3 29

 30 FL512051003 Property-casualty insurance companies 1.8 1.8 1.3 1.3 1.3 1.3 1.3 1.3 1.1 30

 31 FL542051073 Life insurance companies 3.1 2.7 2.3 1.9 2.3 2.2 2.1 1.9 1.7 31

 32 FL572051005 Private pension funds 3.0 2.6 2.5 2.3 2.4 2.4 2.4 2.3 2.3 32

 33 FL222051043 State and local govt. retirement funds 3.8 3.9 5.1 4.5 5.0 4.9 5.1 4.5 4.3 33

 34 FL632051000 Money market funds 654.5 699.3 800.2 956.3 808.0 894.1 909.5 956.3 783.0 34

 35 FL652051003 Mutual funds 94.1 81.7 84.1 98.0 93.5 91.5 98.0 98.0 92.8 35

 36 FL402050005 Government-sponsored enterprises 162.6 182.9 185.0 195.6 207.7 202.3 203.0 195.6 218.7 36

 37 FL402052033 Of which: FHLB federal funds (3) 52.8 42.4 48.6 65.5 78.4 74.6 89.6 65.5 93.3 37

 38 FL662051003 Brokers and dealers 1152.7 1133.3 1112.7 1134.7 1098.9 1164.7 1103.6 1134.7 1063.9 38

 39 FL732051003 Holding companies 2.5 2.1 2.1 5.6 2.4 9.7 9.6 5.6 4.5 39

 40 FL502051003 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 FL262051003 Rest of the world 811.1 665.8 732.6 776.3 754.6 770.5 754.5 776.3 746.8 41

 42 FL902050005 Discrepancy 171.4 289.9 211.9 -60.9 141.2 104.7 28.8 -60.9 -81.6 42

 Memo:

 43 FL072052006 Effective federal funds rate (percent) (4) 0.12 0.24 0.54 1.30 0.79 1.04 1.15 1.30 1.51 43

 Federal Reserve’s reverse repurchase agreement operations:

 44 FL712151103 Liability: Monetary authority (5) 396.7 474.6 468.4 319.6 346.9 398.9 316.1 319.6 32.4 44

 45 FL632051103 Asset: Money market funds (6) 371.2 424.0 403.4 288.1 328.8 362.8 298.5 288.1 22.6 45

 46 FL792051115 Other financial institutions (7) 25.5 50.6 64.9 31.5 18.1 36.1 17.6 31.5 9.7 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 By instrument

 1 FL894122005 Total debt securities 38959.6 39917.7 41483.1 43078.9 41650.9 41858.9 42623.4 43078.9 43867.9 1

 2 FL893169175 Open market paper 930.4 941.5 884.9 965.9 937.2 925.7 982.4 965.9 1048.5 2

 3 FL313161105 Treasury securities 14416.7 15141.1 15983.8 16430.9 15873.8 15798.3 16230.7 16430.9 17046.0 3

 4 FL893161705 Agency- and GSE-backed securities 7948.4 8169.0 8520.6 8867.2 8571.6 8667.0 8758.9 8867.2 8874.4 4

 5 FL383162005 Municipal securities 3796.6 3810.7 3853.2 3863.8 3839.9 3846.3 3821.6 3863.8 3843.7 5

 6 FL893163005 Corporate and foreign bonds 11867.6 11855.4 12240.6 12951.1 12428.5 12621.7 12829.9 12951.1 13055.4 6

 By sector

 7 FL894122005 Total liabilities 38959.6 39917.7 41483.1 43078.9 41650.9 41858.9 42623.4 43078.9 43867.9 7

 8 FL384122005 Domestic nonfinancial sectors 22835.4 23970.6 25135.7 25883.3 25136.4 25121.9 25625.3 25883.3 26562.6 8

 9 FL163162003 Nonprofit organizations (2) 226.9 218.8 215.4 216.9 215.2 218.4 215.3 216.9 218.8 9

 10 FL104122005 Nonfinancial corporate business 5123.7 5533.5 5828.7 6131.8 5953.3 6015.5 6105.4 6131.8 6213.1 10

 11 FL314122005 Federal government 14441.1 15165.6 16008.3 16455.3 15898.0 15822.7 16255.1 16455.3 17070.6 11

 12 FL213162005 State and local governments 3043.7 3052.6 3083.4 3079.3 3069.9 3065.3 3049.5 3079.3 3060.1 12

 13 FL794122005 Domestic financial sectors 13257.4 13193.7 13529.0 13888.8 13568.0 13691.4 13819.9 13888.8 13913.3 13

 14 FL764122005 U.S.-chartered depository institutions 263.5 254.2 232.8 219.8 229.8 225.2 228.0 219.8 218.4 14

 15 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 15

 16 FL403161705 Government-sponsored enterprises 6275.5 6369.0 6563.2 6716.3 6570.2 6619.8 6658.1 6716.3 6685.7 16

 17 FL413065005 Agency- and GSE-backed mortgage pools 1648.5 1775.5 1933.0 2126.6 1977.1 2022.8 2076.4 2126.6 2164.0 17

 18 FL674122005 ABS issuers 1424.1 1346.6 1229.1 1174.2 1201.4 1199.2 1181.1 1174.2 1159.9 18

 19 FL614122005 Finance companies 1080.3 953.4 886.3 836.4 858.8 848.6 854.9 836.4 841.4 19

 20 FL644122005 REITs 403.3 395.5 417.3 438.6 422.2 425.5 428.7 438.6 445.2 20

 21 FL663163003 Brokers and dealers 123.9 131.3 129.1 184.1 129.7 165.8 175.5 184.1 186.3 21

 22 FL734122005 Holding companies 1394.3 1212.8 1344.9 1448.7 1359.4 1411.3 1459.6 1448.7 1435.6 22

 23 FL504122005 Funding corporations 644.0 755.5 793.3 744.3 819.4 773.1 757.6 744.3 776.8 23

 24 FL264122005 Rest of the world 2866.9 2753.4 2818.4 3306.8 2946.5 3045.7 3178.1 3306.8 3392.1 24

 25 FL894122005 Total assets 38959.6 39917.7 41483.1 43078.9 41650.9 41858.9 42623.4 43078.9 43867.9 25

 26 FL384022005 Domestic nonfinancial sectors 5682.3 6253.2 6291.3 6113.6 6193.5 6025.9 5987.9 6113.6 6657.2 26

 27 FL154022005 Household sector 4055.8 4636.9 4591.9 4320.3 4477.9 4307.2 4255.3 4320.3 4849.0 27

 28 FL104022005 Nonfinancial corporate business 248.7 244.7 235.5 269.4 245.2 259.6 259.5 269.4 278.7 28

 29 FL114022005 Nonfinancial noncorporate business 61.2 65.5 69.7 73.6 70.4 71.3 72.0 73.6 74.5 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 FL214022005 State and local governments 1316.0 1305.6 1393.7 1449.8 1399.6 1387.3 1400.6 1449.8 1454.5 31

 32 FL794022005 Domestic financial sectors 23103.5 23327.2 24532.0 25542.3 24684.2 24716.3 25269.3 25542.3 25769.7 32

 33 FL714022005 Monetary authority 4236.9 4242.0 4221.2 4223.5 4246.8 4243.5 4240.3 4223.5 4183.7 33

 34 FL764022005 U.S.-chartered depository institutions 3153.9 3368.3 3644.7 3755.1 3698.5 3673.2 3720.8 3755.1 3739.7 34

 35 FL754022005 Foreign banking offices in U.S. 274.3 265.3 276.0 303.3 266.2 270.0 259.8 303.3 293.0 35

 36 FL744022003 Banks in U.S.-affiliated areas 11.1 11.9 13.2 14.9 14.1 14.3 13.5 14.9 16.0 36

 37 FL474022005 Credit unions 222.8 219.9 202.6 213.0 223.7 223.3 216.4 213.0 216.7 37

 38 LM514022005 Property-casualty insurance companies 1012.1 995.1 1027.1 1058.6 1015.5 1026.3 1036.0 1058.6 1035.4 38

 39 LM544022005 Life insurance companies 3265.4 3223.8 3407.7 3585.5 3453.9 3499.6 3541.6 3585.5 3531.0 39

 40 LM574022005 Private pension funds 1209.7 1173.7 1216.8 1285.7 1236.7 1249.9 1264.3 1285.7 1263.5 40

 41 LM344022005 Federal government retirement funds 1643.6 1735.8 1836.6 1752.8 1689.0 1585.7 1841.5 1752.8 1916.1 41

 42 LM224022045 State and local govt. retirement funds 910.9 876.3 909.8 1008.1 930.7 960.9 979.6 1008.1 1005.1 42

 43 FL634022005 Money market funds 1509.6 1581.9 1746.2 1682.6 1655.3 1540.6 1593.5 1682.6 1824.4 43

 44 LM654022005 Mutual funds 3834.5 3834.2 4077.1 4505.0 4191.4 4337.3 4434.2 4505.0 4497.3 44

 45 LM554022005 Closed-end funds 169.9 161.2 160.8 165.9 163.4 165.7 166.1 165.9 162.9 45

 46 LM564022005 Exchange-traded funds 297.4 341.6 429.0 556.2 467.3 503.4 537.1 556.2 563.8 46

 47 FL404022005 Government-sponsored enterprises 472.1 446.9 442.6 403.8 436.8 427.5 410.9 403.8 407.5 47

 48 FL674022005 ABS issuers 27.3 28.2 19.9 11.5 15.3 11.6 10.7 11.5 12.9 48

 49 LM613063003 Finance companies 73.9 62.7 73.1 63.8 70.1 68.0 64.4 63.8 61.6 49

 50 FL644022005 REITs 312.0 267.3 240.9 293.3 250.1 255.3 282.6 293.3 286.5 50

 51 FL664022005 Brokers and dealers 337.3 300.6 305.6 337.4 329.6 350.2 303.0 337.4 357.9 51

 52 FL734022605 Holding companies 76.0 55.3 58.8 67.4 55.9 72.7 59.5 67.4 79.5 52

 53 FL504022005 Funding corporations 52.6 135.3 222.3 255.0 273.9 237.6 293.4 255.0 315.2 53

 54 FL264022005 Rest of the world 10173.8 10337.3 10659.8 11423.0 10773.3 11116.7 11366.2 11423.0 11441.0 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 (tables L.101 and B.101).
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L.209 Open Market Paper

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL893169175 Total liabilities 930.4 941.5 884.9 965.9 937.2 925.7 982.4 965.9 1048.5 1

 2 FL893169105 Commercial paper 930.4 941.5 884.9 965.9 937.2 925.7 982.4 965.9 1048.5 2

 3 FL103169100 Nonfinancial corporate business 182.0 179.0 180.8 206.7 195.5 194.7 206.1 206.7 222.3 3

 4 FL263169105 Foreign issues in U.S. 437.6 492.3 430.6 521.2 463.2 471.8 528.1 521.2 567.4 4

 5 FL263169110 Nonfinancial 45.2 44.1 44.6 45.1 47.0 48.0 61.3 45.1 52.2 5

 6 FL263169123 Financial 392.5 448.2 386.0 476.1 416.1 423.8 466.8 476.1 515.2 6

 7 FL793169100 Financial business 310.7 270.2 273.5 238.1 278.5 259.2 248.2 238.1 258.7 7

 8 FL763169103 U.S.-chartered depository institutions 54.5 53.6 49.0 49.7 49.4 48.7 50.4 49.7 48.9 8

 9 FL673169105 ABS issuers 12.7 10.0 14.7 3.5 3.7 2.5 2.8 3.5 3.2 9

 10 FL613169100 Finance companies 117.8 66.9 71.4 72.2 67.8 69.1 69.3 72.2 69.0 10

 11 FL643169173 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL733169103 Holding companies 77.0 5.7 2.2 4.4 3.3 3.3 4.3 4.4 3.0 12

 13 FL503169105 Funding corporations 48.8 134.1 136.1 108.3 154.3 135.7 121.5 108.3 134.6 13

 14 FL703169605 Bankers’ acceptances (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL763169603 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 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 16

 17 FL893169175 Total assets 930.4 941.5 884.9 965.9 937.2 925.7 982.4 965.9 1048.5 17

 18 FL103069100 Nonfinancial corporate business 171.9 172.5 160.7 185.2 166.1 178.5 176.4 185.2 195.5 18

 19 FL213069103 State and local governments 66.6 61.7 61.9 64.7 62.3 62.0 62.9 64.7 65.0 19

 20 FL713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL763069175 U.S.-chartered depository institutions (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 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 22

 23 FL473069153 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 23

 24 LM513069103 Property-casualty insurance companies 8.0 8.9 19.6 10.9 16.5 13.9 12.2 10.9 9.3 24

 25 LM543069105 Life insurance companies 50.5 43.0 44.9 36.2 44.0 41.6 40.0 36.2 34.1 25

 26 FL573069105 Private pension funds 43.2 38.4 37.3 36.2 36.9 36.8 36.6 36.2 36.1 26

 27 FL223069143 State and local govt. retirement funds 44.5 45.0 58.8 51.7 57.2 56.5 58.6 51.7 50.0 27

 28 FL633069175 Money market funds 338.6 298.8 103.8 148.2 109.1 124.5 133.2 148.2 154.4 28

 29 LM653069100 Mutual funds 94.1 81.7 84.1 98.0 93.5 91.5 98.0 98.0 92.8 29

 30 FL403069105 Government-sponsored enterprises 6.0 5.5 5.9 6.4 5.5 6.0 6.0 6.4 7.2 30

 31 FL663069103 Brokers and dealers 20.8 19.5 13.8 12.5 11.7 11.9 11.7 12.5 13.6 31

 32 FL503069105 Funding corporations -21.8 62.3 153.4 178.9 200.0 163.0 220.1 178.9 233.7 32

 33 LM263069103 Rest of the world 107.9 104.3 140.8 136.9 134.3 139.3 126.6 136.9 156.7 33

(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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL313161105 Total liabilities 14416.7 15141.1 15983.8 16430.9 15873.8 15798.3 16230.7 16430.9 17046.0 1

 2 FL313161205 Marketable Treasury securities 12480.9 13169.0 13880.2 14434.6 13923.0 13965.8 14156.1 14434.6 14894.7 2

 3 FL313161110 Treasury bills 1456.7 1511.0 1815.7 1952.5 1754.8 1715.8 1799.6 1952.5 2284.4 3

 4 FL313161275 Other Treasury notes, bonds, and TIPS 11010.6 11643.0 12051.5 12470.6 12155.2 12238.5 12345.0 12470.6 12598.8 4

 5 FL313161283 Held in the Civil Service Retirement Fund (2) 13.6 15.0 13.0 11.5 13.0 11.5 11.5 11.5 11.5 5

 6 FL313161305 Nonmarketable Treasury securities 1935.8 1972.1 2103.6 1996.3 1950.8 1832.5 2074.7 1996.3 2151.3 6

 7 FL313161400 U.S. savings securities 176.0 171.6 165.9 160.5 164.3 162.9 161.7 160.5 159.0 7

 8 FL213061120 State and local government series (SLGS) 116.5 75.2 109.8 92.4 106.2 91.5 80.4 92.4 84.6 8

 9 FL343061123 Thrift Savings Plan G Fund 191.3 206.9 222.3 68.7 116.6 84.3 217.9 68.7 226.5 9

 10 FL343061145 Federal govt. defined benefit pension plans 1407.5 1481.8 1567.6 1637.6 1525.4 1455.3 1576.9 1637.6 1644.2 10

 11 FL313161375 Other nonmarketable securities 44.6 36.5 38.1 37.0 38.3 38.5 37.8 37.0 36.9 11

 12 FL893061105 Total assets 14416.7 15141.1 15983.8 16430.9 15873.8 15798.3 16230.7 16430.9 17046.0 12

 13 FL153061105 Household sector 798.4 1179.2 1400.2 1366.6 1343.3 1421.1 1304.0 1366.6 1625.2 13

 14 FL313161400 U.S. savings securities (line 7) 176.0 171.6 165.9 160.5 164.3 162.9 161.7 160.5 159.0 14

 15 FL153061185 Other Treasury securities 622.5 1007.6 1234.3 1206.1 1179.0 1258.2 1142.3 1206.1 1466.1 15

 16 FL103061103 Nonfinancial corporate business 41.7 37.4 41.3 41.0 40.0 40.7 40.3 41.0 41.2 16

 17 FL113061003 Nonfinancial noncorporate business 57.2 61.2 65.1 68.7 65.8 66.6 67.3 68.7 69.6 17

 18 FL213061105 State and local governments 625.5 651.4 713.6 722.6 714.3 696.1 693.8 722.6 718.1 18

 19 FL213061120 SLGS (line 8) 116.5 75.2 109.8 92.4 106.2 91.5 80.4 92.4 84.6 19

 20 FL213061103 Other Treasury securities 509.0 576.3 603.8 630.1 608.1 604.6 613.4 630.1 633.6 20

 21 FL713061103 Monetary authority 2461.4 2461.6 2463.6 2454.2 2464.4 2465.1 2465.4 2454.2 2425.0 21

 22 FL713061113 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL713061125 Other Treasury securities 2461.4 2461.6 2463.6 2454.2 2464.4 2465.1 2465.4 2454.2 2425.0 23

 24 FL763061100 U.S.-chartered depository institutions 420.4 435.2 531.2 488.0 526.8 479.0 481.5 488.0 487.4 24

 25 FL753061103 Foreign banking offices in U.S. 56.5 69.8 94.0 99.5 88.4 91.4 84.3 99.5 99.3 25

 26 FL743061103 Banks in U.S.-affiliated areas 1.3 2.4 3.2 5.1 4.0 4.3 3.9 5.1 6.3 26

 27 FL473061105 Credit unions 21.6 29.2 13.6 29.3 28.2 28.2 28.0 29.3 31.5 27

 28 LM513061103 Property-casualty insurance companies 104.9 100.7 110.9 144.3 115.6 122.4 131.4 144.3 134.9 28

 29 LM513061113 Treasury bills 27.1 23.1 31.2 56.7 35.3 39.9 46.8 56.7 48.1 29

 30 LM513061125 Other Treasury securities 77.8 77.7 79.7 87.6 80.3 82.5 84.6 87.6 86.8 30

 31 LM543061105 Life insurance companies 200.0 203.6 216.9 226.4 218.1 219.9 219.8 226.4 224.4 31

 32 LM543061113 Treasury bills 9.7 7.2 13.2 12.8 13.8 13.7 13.9 12.8 11.6 32

 33 LM543061125 Other Treasury securities 190.4 196.4 203.6 213.6 204.3 206.2 206.0 213.6 212.8 33

 34 LM573061105 Private pension funds 304.9 287.2 292.9 306.5 296.6 299.2 302.0 306.5 303.5 34

 35 LM573061143 Defined benefit plans 186.3 176.3 173.3 172.8 173.2 174.2 173.8 172.8 169.6 35

 36 LM573061133 Defined contribution plans 118.6 111.0 119.7 133.7 123.4 124.9 128.2 133.7 133.9 36

 37 LM343061105 Federal government retirement funds (3) 1623.4 1714.8 1814.4 1729.8 1666.6 1562.9 1818.3 1729.8 1893.7 37

 38 LM343061165 Defined benefit plans 1423.5 1498.8 1582.6 1651.1 1540.4 1468.8 1590.4 1651.1 1657.6 38

 39 LM343061155 Defined contribution plans 199.9 216.0 231.8 78.7 126.2 94.1 228.0 78.7 236.1 39

 40 LM223061143 State and local govt. retirement funds 200.5 174.2 189.7 227.6 196.6 210.9 212.0 227.6 232.9 40

 41 FL633061105 Money market funds 419.0 482.9 796.2 702.2 741.0 624.3 650.5 702.2 879.2 41

 42 FL633061110 Treasury bills 244.6 236.0 414.9 461.4 360.0 320.9 392.3 461.4 651.2 42

 43 FL633061120 Other Treasury securities 174.5 246.9 381.4 240.7 381.0 303.4 258.1 240.7 228.0 43

 44 LM653061105 Mutual funds 682.9 826.6 902.6 1097.2 932.9 916.5 1039.4 1097.2 1108.0 44

 45 LM653061113 Treasury bills 32.7 44.5 58.2 79.6 54.8 43.7 66.2 79.6 85.3 45

 46 LM653061125 Other Treasury securities 650.2 782.1 844.4 1017.6 878.0 872.8 973.2 1017.6 1022.7 46

 47 LM553061103 Closed-end funds 6.4 5.8 3.6 3.7 3.7 3.7 3.7 3.7 3.6 47

 48 LM563061103 Exchange-traded funds 67.5 80.3 94.7 122.2 104.4 110.0 119.1 122.2 131.2 48

 49 FL403061105 Government-sponsored enterprises 64.3 87.5 102.4 101.3 107.9 104.5 99.0 101.3 106.3 49

 50 FL673061103 ABS issuers 27.2 28.2 19.9 11.5 15.3 11.6 10.7 11.5 12.9 50

 51 FL663061105 Brokers and dealers 60.2 65.3 97.6 160.4 107.8 128.5 126.7 160.4 176.5 51

 52 FL733061103 Holding companies 13.9 10.2 9.8 12.6 13.0 19.9 6.7 12.6 16.3 52

 53 LM263061105 Rest of the world 6157.7 6146.2 6006.3 6310.3 6079.0 6171.6 6323.0 6310.3 6319.0 53

 54 LM263061110 Treasury bills 671.6 724.7 672.4 727.8 673.0 698.7 703.2 727.8 741.4 54

 55 LM263061120 Other Treasury securities 5486.0 5421.5 5333.9 5582.5 5406.0 5472.8 5619.8 5582.5 5577.7 55

(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.
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120 Z.1, June 7, 2018

L.211 Agency- and GSE-Backed Securities (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL893161705 Total liabilities 7948.4 8169.0 8520.6 8867.2 8571.6 8667.0 8758.9 8867.2 8874.4 1

 2 FL313161705 Budget agencies 24.4 24.6 24.5 24.4 24.2 24.4 24.4 24.4 24.7 2

 3 FL403161705 Government-sponsored enterprises 6275.5 6369.0 6563.2 6716.3 6570.2 6619.8 6658.1 6716.3 6685.7 3

 4 FL413065005 Agency- and GSE-backed mortgage pools 1648.5 1775.5 1933.0 2126.6 1977.1 2022.8 2076.4 2126.6 2164.0 4

 5 FL893061705 Total assets 7948.4 8169.0 8520.6 8867.2 8571.6 8667.0 8758.9 8867.2 8874.4 5

 6 FL153061705 Household sector 261.8 500.4 446.5 492.0 470.5 373.8 457.6 492.0 513.9 6

 7 FL103061703 Nonfinancial corporate business 13.9 12.5 13.8 13.7 13.3 13.6 13.4 13.7 13.7 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 FL213061703 State and local governments 440.4 404.5 420.2 455.4 423.5 430.8 442.6 455.4 463.1 9

 10 FL713061705 Monetary authority 1775.5 1780.4 1757.6 1769.3 1782.5 1778.4 1774.9 1769.3 1758.8 10

 11 FL763061705 U.S.-chartered depository institutions 1760.3 1924.7 2061.5 2210.1 2098.2 2134.5 2178.5 2210.1 2213.9 11

 12 FL753061703 Foreign banking offices in U.S. 20.5 23.1 21.1 43.6 21.9 22.9 21.3 43.6 41.5 12

 13 FL743061703 Banks in U.S.-affiliated areas 1.7 1.8 1.5 1.5 1.5 1.4 1.4 1.5 1.7 13

 14 FL473061705 Credit unions 187.5 175.6 172.4 168.0 178.8 178.5 172.6 168.0 169.4 14

 15 LM513061703 Property-casualty insurance companies 111.6 102.7 104.3 111.0 104.2 106.6 108.3 111.0 110.0 15

 16 LM543061705 Life insurance companies 382.5 364.4 366.1 382.4 370.6 375.1 379.1 382.4 381.3 16

 17 LM573061705 Private pension funds 168.1 158.6 165.0 171.5 166.8 169.3 170.7 171.5 170.5 17

 18 LM343061705 Federal government retirement funds 8.3 8.4 8.7 9.0 8.7 8.9 9.1 9.0 8.8 18

 19 LM223061743 State and local govt. retirement funds 112.9 100.2 113.6 136.3 117.7 126.3 127.0 136.3 140.5 19

 20 FL633061700 Money market funds 390.5 467.4 677.8 682.5 643.8 642.9 666.3 682.5 643.8 20

 21 LM653061703 Mutual funds 689.8 584.9 596.4 593.6 580.0 689.7 611.4 593.6 603.6 21

 22 FL403061705 Government-sponsored enterprises 295.7 281.4 287.4 267.4 282.4 280.2 274.5 267.4 265.9 22

 23 FL673061703 ABS issuers 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL643061773 REITs 277.8 228.1 200.7 251.2 208.6 214.0 241.0 251.2 243.6 24

 25 FL663061703 Brokers and dealers 121.9 109.7 93.2 83.2 106.9 113.5 87.6 83.2 84.2 25

 26 FL733061703 Holding companies 28.0 23.7 25.1 15.6 23.5 16.7 16.3 15.6 23.4 26

 27 LM263061705 Rest of the world 899.6 916.5 987.9 1009.9 968.0 989.9 1005.3 1009.9 1023.2 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown on table L.106, line 20.
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L.212 Municipal Securities

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL383162005 Total liabilities 3796.6 3810.7 3853.2 3863.8 3839.9 3846.3 3821.6 3863.8 3843.7 1

 2 FL213162005 State and local governments 3043.7 3052.6 3083.4 3079.3 3069.9 3065.3 3049.5 3079.3 3060.1 2

 3 FL213162400 Short-term (1) 38.9 33.0 30.2 35.1 30.0 24.5 32.9 35.1 36.2 3

 4 FL213162200 Long-term 3004.8 3019.6 3053.1 3044.2 3039.9 3040.8 3016.6 3044.2 3023.8 4

 5 FL163162003 Nonprofit organizations (2) 226.9 218.8 215.4 216.9 215.2 218.4 215.3 216.9 218.8 5

 6 FL103162000 Nonfinancial corporate business 526.0 539.3 554.5 567.6 554.8 562.6 556.7 567.6 564.9 6

 (industrial revenue bonds)

 7 FL383162005 Total assets 3796.6 3810.7 3853.2 3863.8 3839.9 3846.3 3821.6 3863.8 3843.7 7

 8 FL153062005 Household sector 1709.1 1655.4 1711.6 1641.4 1684.7 1668.4 1631.6 1641.4 1640.3 8

 9 FL103062003 Nonfinancial corporate business 21.2 22.3 19.7 29.5 25.7 26.8 29.3 29.5 28.3 9

 10 FL113062003 Nonfinancial noncorporate business 4.0 4.3 4.6 4.8 4.6 4.7 4.7 4.8 4.9 10

 11 FL213062003 State and local governments 13.7 14.0 14.8 15.4 14.9 14.8 15.0 15.4 15.5 11

 12 FL763062000 U.S.-chartered depository institutions 451.5 498.9 549.2 570.2 554.2 557.3 560.6 570.2 554.4 12

 13 FL753062003 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 FL743062003 Banks in U.S.-affiliated areas 2.7 2.1 1.7 1.3 1.7 1.6 1.3 1.3 1.3 14

 15 FL473062005 Credit unions 3.8 4.3 5.1 5.1 5.1 5.3 5.0 5.1 4.8 15

 16 LM513062003 Property-casualty insurance companies 339.6 345.8 338.5 327.0 330.2 329.4 326.7 327.0 327.0 16

 17 LM543062005 Life insurance companies 164.4 171.2 179.0 192.7 182.7 186.2 189.7 192.7 193.8 17

 18 LM343062033 Federal government retirement funds 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 18

 19 LM223062043 State and local govt. retirement funds 2.4 2.5 2.0 3.2 2.3 2.5 2.2 3.2 3.4 19

 20 FL633062000 Money market funds 282.0 268.4 162.2 142.3 153.3 141.8 135.1 142.3 140.8 20

 21 LM653062003 Mutual funds 586.6 603.7 632.2 688.1 646.6 666.5 680.4 688.1 687.6 21

 22 LM553062003 Closed-end funds 90.2 89.5 86.9 89.0 87.4 88.6 88.7 89.0 87.3 22

 23 LM563062003 Exchange-traded funds 15.1 19.1 24.7 30.4 25.5 27.3 28.6 30.4 30.7 23

 24 FL403062005 Government-sponsored enterprises 10.8 8.2 5.8 4.6 5.6 5.2 4.7 4.6 4.4 24

 25 FL663062003 Brokers and dealers 18.9 14.0 21.0 17.2 19.7 21.2 17.3 17.2 18.6 25

 26 FL263062003 Rest of the world 80.6 87.0 94.3 101.5 95.5 98.6 100.2 101.5 100.5 26

(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).
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122 Z.1, June 7, 2018

L.213 Corporate and Foreign Bonds

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL893163005 Total liabilities 11867.6 11855.4 12240.6 12951.1 12428.5 12621.7 12829.9 12951.1 13055.4 1

 2 FL103163003 Nonfinancial corporate business 4415.7 4815.3 5093.4 5357.6 5203.0 5258.2 5342.6 5357.6 5425.9 2

 3 FL793163005 Domestic financial sectors 5022.6 4779.1 4759.4 4808.0 4742.2 4789.6 4837.2 4808.0 4804.9 3

 4 FL763163005 U.S.-chartered depository institutions 209.0 200.6 183.7 170.1 180.4 176.5 177.6 170.1 169.5 4

 5 FL673163005 ABS issuers (net) (1) 1411.4 1336.6 1214.4 1170.7 1197.8 1196.7 1178.3 1170.7 1156.6 5

 6 FL613163005 Finance companies 962.6 886.6 814.9 764.3 791.0 779.6 785.6 764.3 772.4 6

 7 FL643163005 REITs 403.3 395.5 417.3 438.6 422.2 425.5 428.7 438.6 445.2 7

 8 FL663163003 Brokers and dealers 123.9 131.3 129.1 184.1 129.7 165.8 175.5 184.1 186.3 8

 9 FL733163003 Holding companies 1317.4 1207.1 1342.7 1444.2 1356.1 1408.0 1455.3 1444.2 1432.7 9

 10 FL503163005 Funding corporations 595.1 621.4 657.2 636.0 665.1 637.4 636.1 636.0 642.2 10

 11 LM263163005 Rest of the world (2) 2429.3 2261.1 2387.8 2785.6 2483.3 2573.9 2650.1 2785.6 2824.6 11

 12 FL893163005 Total assets (3) 11867.6 11855.4 12240.6 12951.1 12428.5 12621.7 12829.9 12951.1 13055.4 12

 13 FL153063005 Household sector 1286.5 1301.8 1033.6 820.4 979.3 843.9 862.0 820.4 1069.6 13

 14 FL313063763 Federal government 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 14

 15 FL213063003 State and local governments 170.0 174.0 183.3 191.7 184.7 183.6 186.4 191.7 192.7 15

 16 FL763063005 U.S.-chartered depository institutions 521.7 509.5 502.9 486.8 519.3 502.4 500.2 486.8 484.1 16

 17 FL763063605 MBS and other ABS 139.1 127.2 100.5 81.8 97.8 92.7 87.3 81.8 78.7 17

 18 FL763063095 Other 382.6 382.3 402.3 405.0 421.5 409.7 412.9 405.0 405.4 18

 19 FL753063005 Foreign banking offices in U.S. 197.3 172.4 160.8 160.2 155.9 155.7 154.2 160.2 152.3 19

 20 FL743063005 Banks in U.S.-affiliated areas 5.3 5.6 6.7 7.0 6.9 6.9 6.9 7.0 6.7 20

 21 FL473063005 Credit unions 9.9 10.8 11.5 10.7 11.6 11.4 10.8 10.7 10.9 21

 22 FL473063605 MBS and other ABS 9.7 10.6 11.3 10.4 11.4 11.2 10.5 10.4 10.6 22

 23 FL473063095 Other 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.3 0.3 23

 24 LM513063003 Property-casualty insurance companies 448.1 437.0 453.9 465.3 449.0 454.0 457.4 465.3 454.3 24

 25 LM513063603 MBS and other ABS 95.9 95.1 97.1 100.6 97.9 98.9 99.7 100.6 99.3 25

 26 LM513063095 Other 352.2 341.9 356.9 364.7 351.1 355.1 357.7 364.7 355.0 26

 27 LM543063005 Life insurance companies 2467.9 2441.6 2600.8 2747.8 2638.4 2676.8 2713.0 2747.8 2697.5 27

 28 LM543063673 MBS and other ABS 456.7 439.4 457.8 468.1 460.0 463.2 466.7 468.1 467.5 28

 29 LM543063095 Other 2011.1 2002.3 2143.0 2279.7 2178.4 2213.6 2246.3 2279.7 2229.9 29

 30 LM573063005 Private pension funds 693.6 689.5 721.5 771.5 736.4 744.6 755.1 771.5 753.5 30

 31 LM343063005 Federal government retirement funds 11.9 12.6 13.5 14.0 13.6 13.9 14.0 14.0 13.4 31

 32 LM223063045 State and local govt. retirement funds 550.6 554.4 545.8 589.2 556.9 564.6 579.9 589.2 578.3 32

 33 FL633063003 Money market funds 79.5 64.4 6.1 7.4 8.0 7.1 8.3 7.4 6.2 33

 34 LM653063005 Mutual funds 1781.2 1737.3 1861.9 2028.1 1938.4 1973.0 2005.0 2028.1 2005.3 34

 35 LM553063003 Closed-end funds 73.3 65.8 70.2 73.2 72.3 73.4 73.7 73.2 72.0 35

 36 LM563063003 Exchange-traded funds 214.8 242.2 309.6 403.5 337.4 366.1 389.4 403.5 401.9 36

 37 FL403063005 Government-sponsored enterprises 95.4 64.3 41.1 24.1 35.3 31.7 26.6 24.1 23.8 37

 38 FL403063605 MBS and other ABS 89.3 58.9 36.4 19.8 30.7 27.2 22.3 19.8 19.6 38

 39 FL403063095 Other 6.2 5.4 4.7 4.3 4.6 4.5 4.4 4.3 4.2 39

 40 LM613063003 Finance companies 73.9 62.7 73.1 63.8 70.1 68.0 64.4 63.8 61.6 40

 41 FL643063005 REITs 34.2 39.2 40.2 42.1 41.5 41.3 41.7 42.1 42.9 41

 42 FL663063005 Brokers and dealers 115.5 92.1 80.0 64.2 83.4 75.1 59.7 64.2 65.0 42

 43 FL733063003 Holding companies 34.1 21.5 24.0 39.2 19.3 36.0 36.5 39.2 39.8 43

 44 FL503063005 Funding corporations 74.4 73.0 69.0 76.1 73.8 74.6 73.3 76.1 81.5 44

 45 LM263063005 Rest of the world (4) 2928.0 3083.3 3430.5 3864.4 3496.4 3717.2 3811.1 3864.4 3841.6 45

 46 LM263063603 MBS and other ABS 399.4 387.6 363.7 371.9 365.9 371.1 372.3 371.9 367.4 46

 47 LM263063095 Other 2528.6 2695.7 3066.8 3492.4 3130.5 3346.1 3438.8 3492.4 3474.2 47

(1) Liabilities net of assets.

(2) Holdings of foreign issues by U.S. residents.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.
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L.214 Loans (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 By instrument

 1 FL894123005 Total loans 22933.5 23614.7 24566.1 25676.6 24745.0 25108.0 25347.2 25676.6 25740.3 1

 2 FL793068005 Depository institution loans n.e.c. 2814.9 3116.0 3288.0 3387.0 3288.4 3336.8 3356.2 3387.0 3416.9 2

 3 FL893169005 Other loans and advances 3323.6 3232.4 3305.2 3559.7 3389.6 3501.9 3520.1 3559.7 3514.9 3

 4 FL893065005 Mortgages 13480.5 13852.7 14328.8 14897.2 14427.0 14574.0 14717.0 14897.2 14986.1 4

 5 FL893065105 Home 9939.3 10070.3 10290.9 10606.4 10349.3 10431.9 10525.3 10606.4 10643.4 5

 6 FL893065405 Multifamily residential 986.2 1086.7 1195.6 1310.7 1218.6 1241.1 1266.4 1310.7 1331.5 6

 7 FL893065505 Commercial 2358.2 2487.0 2616.3 2744.0 2630.6 2669.9 2691.8 2744.0 2774.4 7

 8 FL893065603 Farm 196.8 208.8 226.0 236.1 228.5 231.0 233.6 236.1 236.8 8

 9 FL153166000 Consumer credit 3314.6 3413.6 3644.2 3832.7 3640.1 3695.4 3754.0 3832.7 3822.4 9

 By sector

 10 FL894123005 Total liabilities 22933.5 23614.7 24566.1 25676.6 24745.0 25108.0 25347.2 25676.6 25740.3 10

 11 FL384123005 Domestic nonfinancial sectors 20585.1 21166.6 22009.8 23073.4 22202.9 22504.6 22741.1 23073.4 23184.0 11

 12 FL154123005 Household sector 13748.5 13941.1 14383.2 14915.8 14435.1 14593.8 14736.3 14915.8 14951.4 12

 13 FL104123005 Nonfinancial corporate business 2376.7 2459.2 2561.7 2836.2 2659.2 2734.5 2777.6 2836.2 2851.0 13

 14 FL114123005 Nonfinancial noncorporate business 4443.3 4749.4 5047.1 5303.1 5090.7 5158.3 5209.1 5303.1 5363.1 14

 15 FL313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL213169203 State and local governments 16.6 16.9 17.8 18.2 17.9 18.0 18.1 18.2 18.5 16

 17 FL794123005 Domestic financial sectors 1934.2 1978.4 2051.6 2068.0 2029.4 2078.6 2070.3 2068.0 2011.8 17

 18 FL763169305 U.S.-chartered depository institutions 468.2 498.7 566.4 586.5 525.7 569.6 579.5 586.5 557.1 18

 19 FL473169333 Credit unions 35.4 44.7 46.7 54.8 45.2 46.6 50.5 54.8 46.5 19

 20 FL513169333 Property-casualty insurance companies 2.2 2.4 2.9 2.7 2.9 3.9 2.9 2.7 3.7 20

 21 FL543169373 Life insurance companies 51.9 58.1 68.3 74.9 71.2 71.3 72.2 74.9 79.0 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 141.2 159.5 159.5 148.1 158.0 156.7 157.2 148.1 150.0 23

 24 FL644123005 REITs 270.4 299.6 284.3 285.2 282.5 283.4 279.1 285.2 281.1 24

 25 FL664123005 Brokers and dealers 962.5 913.2 921.3 913.3 941.6 944.7 926.4 913.3 892.1 25

 26 FL504123005 Funding corporations 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 26

 27 FL264123005 Rest of the world 414.3 469.8 504.7 535.2 512.7 524.8 535.9 535.2 544.4 27

 28 FL894123005 Total assets 22933.5 23614.7 24566.1 25676.6 24745.0 25108.0 25347.2 25676.6 25740.3 28

 29 FL384023005 Domestic nonfinancial sectors 2537.4 2591.4 2704.5 2782.7 2755.2 2764.3 2781.6 2782.7 2794.5 29

 30 FL154023005 Household sector 1063.3 1002.7 998.3 966.5 1012.4 1010.8 985.9 966.5 943.2 30

 31 FL104023005 Nonfinancial corporate business 70.0 72.4 73.0 70.3 71.4 71.2 71.0 70.3 68.7 31

 32 FL114023005 Nonfinancial noncorporate business 34.5 36.9 39.3 41.4 39.6 40.2 40.6 41.4 41.9 32

 33 FL314023005 Federal government 1159.0 1263.7 1366.7 1467.0 1402.9 1414.5 1453.2 1467.0 1501.8 33

 34 FL213065005 State and local governments 210.7 215.6 227.2 237.6 228.9 227.6 231.0 237.6 238.9 34

 35 FL794023005 Domestic financial sectors 20225.5 20815.8 21658.3 22633.6 21769.6 22103.5 22315.0 22633.6 22676.6 35

 36 FL713068005 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FL764023005 U.S.-chartered depository institutions 7632.0 8148.6 8639.7 8989.4 8615.0 8758.4 8841.6 8989.4 9009.0 37

 38 FL754023005 Foreign banking offices in U.S. 583.5 670.5 701.3 697.4 699.5 701.5 699.1 697.4 687.9 38

 39 FL744023003 Banks in U.S.-affiliated areas 47.4 41.7 39.8 39.2 38.9 38.8 38.3 39.2 38.6 39

 40 FL474023000 Credit unions 728.9 804.9 889.5 978.4 905.5 934.5 958.5 978.4 1001.0 40

 41 FL513065503 Property-casualty insurance companies 9.9 12.3 14.9 17.2 14.2 15.7 16.6 17.2 18.0 41

 42 FL544023005 Life insurance companies 546.8 588.1 625.4 671.9 635.9 652.1 663.3 671.9 683.0 42

 43 FL573065005 Private pension funds 24.0 22.0 21.8 21.6 21.7 21.7 21.6 21.6 21.6 43

 44 FL223065043 State and local govt. retirement funds 8.3 8.4 8.3 7.8 7.7 9.2 9.1 7.8 7.6 44

 45 FL653069803 Mutual funds 154.5 138.9 157.5 183.2 166.1 176.2 182.0 183.2 182.2 45

 46 FL404023005 Government-sponsored enterprises 5542.3 5666.3 5852.4 6051.4 5864.9 5927.3 5980.1 6051.4 6043.1 46

 47 FL413065005 Agency- and GSE-backed mortgage pools 1648.5 1775.5 1933.0 2126.6 1977.1 2022.8 2076.4 2126.6 2164.0 47

 48 FL674023005 ABS issuers 1303.2 1220.5 1104.6 1047.3 1078.6 1077.2 1053.6 1047.3 1028.9 48

 49 FL614023005 Finance companies 1243.7 1125.5 1074.2 1051.0 1064.6 1060.1 1050.7 1051.0 1041.6 49

 50 FL643065005 REITs 247.3 217.7 227.8 233.5 224.0 225.3 223.7 233.5 232.7 50

 51 FL663069005 Brokers and dealers 428.2 338.1 329.7 375.4 335.0 355.9 364.6 375.4 382.7 51

 52 FL733069005 Holding companies 64.8 24.0 22.6 123.1 103.9 103.7 114.3 123.1 121.1 52

 53 FL503069805 Funding corporations 12.1 12.9 16.0 19.4 16.9 23.2 21.6 19.4 13.5 53

 54 FL263069500 Rest of the world 170.6 207.5 203.3 260.3 220.2 240.2 250.6 260.3 269.2 54

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
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124 Z.1, June 7, 2018

L.215 Depository Institution Loans Not Elsewhere Classified (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL793068005 Total liabilities 2814.9 3116.0 3288.0 3387.0 3288.4 3336.8 3356.2 3387.0 3416.9 1

 2 FL153168005 Household sector 235.8 280.6 290.2 293.1 285.5 292.5 289.3 293.1 297.1 2

 3 FL103168005 Nonfinancial corporate business 856.0 935.8 985.8 1020.3 991.6 1001.4 1004.5 1020.3 1028.6 3

 4 FL113168005 Nonfinancial noncorporate business 1077.0 1175.0 1247.5 1289.2 1252.3 1265.9 1270.2 1289.2 1296.9 4

 5 FL793168005 Domestic financial sectors 265.8 288.7 291.5 302.9 295.0 300.3 305.7 302.9 306.8 5

 6 FL613168003 Finance companies 139.1 155.8 156.0 144.7 154.7 153.6 154.0 144.7 146.7 6

 7 FL643168005 REITs 33.1 40.4 31.2 35.9 32.4 33.9 32.9 35.9 37.1 7

 8 FL663168005 Brokers and dealers 93.5 92.5 104.4 122.3 107.9 112.9 118.9 122.3 123.1 8

 9 FL713068505 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL263168005 Rest of the world 380.3 435.9 472.9 481.5 463.9 476.8 486.4 481.5 487.4 10

 11 FL263168465 Foreign official institutions 8.2 9.5 7.3 4.2 5.9 4.5 4.2 4.2 4.5 11

 12 FL263168485 Foreign nonfinancial corporations 207.3 227.5 230.3 197.6 220.3 213.8 211.6 197.6 203.9 12

 13 FL263168495 Foreign nondepository financial institutions 164.8 198.9 235.3 279.7 237.6 258.6 270.6 279.7 279.0 13

 14 FL793068005 Total assets 2814.9 3116.0 3288.0 3387.0 3288.4 3336.8 3356.2 3387.0 3416.9 14

 15 FL713068005 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL763068005 U.S.-chartered depository institutions 2198.2 2424.0 2570.1 2674.4 2572.6 2622.9 2639.2 2674.4 2713.8 16

 17 FL753068005 Foreign banking offices in U.S. 545.9 619.2 634.2 620.7 631.1 628.9 625.9 620.7 609.9 17

 18 FL743068005 Banks in U.S.-affiliated areas 17.1 15.1 13.9 13.1 13.4 13.6 13.0 13.1 13.1 18

 19 FL473068005 Credit unions 53.7 57.7 69.8 78.6 71.3 71.4 78.0 78.6 80.1 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 the household, broker and dealer, and funding corporation sectors.
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Z.1, June 7, 2018 125

L.216 Other Loans and Advances

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL893169005 Total other loans and advances 3323.6 3232.4 3305.2 3559.7 3389.6 3501.9 3520.1 3559.7 3514.9 1

 2 FL313069205 U.S. government loans 195.2 197.3 197.5 199.9 197.0 197.3 198.7 199.9 202.3 2

 3 FL153169203 Liab.: Household sector 13.5 15.7 18.1 20.8 18.7 19.2 19.8 20.8 22.1 3

 4 FL103169205 Nonfinancial corporate business 74.8 75.3 74.5 73.4 74.1 74.0 73.5 73.4 73.5 4

 5 FL113169205 Nonfinancial noncorporate business 57.3 54.0 53.3 52.9 53.1 53.2 53.3 52.9 53.2 5

 6 FL213169203 State and local governments 16.6 16.9 17.8 18.2 17.9 18.0 18.1 18.2 18.5 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 Funding corporations 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 9

 10 FL263169205 Rest of the world 30.8 33.0 31.5 32.2 30.8 30.4 31.6 32.2 32.7 10

 11 FL263069500 Foreign loans to U.S. corporate business 170.6 207.5 203.3 260.3 220.2 240.2 250.6 260.3 269.2 11

 12 FL263069500 Liab.: Nonfinancial corporate business 170.6 207.5 203.3 260.3 220.2 240.2 250.6 260.3 269.2 12

 Customers’ liability on acceptances outstanding

 13 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 13

 14 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 14

 15 FL103169705 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL263169705 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FL733069005 Holding company loans 64.8 24.0 22.6 123.1 103.9 103.7 114.3 123.1 121.1 17

 18 FL733069013 Liab.: Nonfinancial corporate business 61.6 23.1 22.3 101.6 86.0 86.2 96.4 101.6 96.8 18

 19 FL733069023 Rest of the world 3.2 0.9 0.3 21.5 18.0 17.6 17.9 21.5 24.3 19

 20 FL153169405 Policy loans (Household liability) 130.9 132.3 132.1 134.0 132.3 132.4 133.3 134.0 134.4 20

 21 FL313069403 Asset: Federal government 0.3 0.3 0.3 0.2 0.3 0.3 0.2 0.2 0.2 21

 22 FL543069405 Life insurance companies 130.6 132.0 131.9 133.8 132.0 132.2 133.0 133.8 134.1 22

 23 FL403069330 Federal Home Loan Banks advances (1) 565.7 631.2 704.3 732.1 660.5 706.4 719.1 732.1 699.0 23

 24 FL763169335 Liab.: U.S.-chartered depository institutions 468.2 498.7 566.4 586.5 525.7 569.6 579.5 586.5 557.1 24

 25 FL473169333 Credit unions 35.4 44.7 46.7 54.8 45.2 46.6 50.5 54.8 46.5 25

 26 FL513169333 Property-casualty insurance companies 2.2 2.4 2.9 2.7 2.9 3.9 2.9 2.7 3.7 26

 27 FL543169373 Life insurance companies 51.9 58.1 68.3 74.9 71.2 71.3 72.2 74.9 79.0 27

 28 FL613169333 Finance companies 2.1 3.7 3.5 3.4 3.3 3.1 3.3 3.4 3.3 28

 29 FL643169373 Real estate investment trusts 5.9 23.8 16.6 9.8 12.3 11.9 10.7 9.8 9.5 29

 30 FL403069395 Government-sponsored enterprise (GSE) loans (2) 106.1 115.0 120.8 125.6 122.0 120.4 119.8 125.6 128.4 30

 31 FL153169305 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FL183169305 Nonfinancial corporate business (FCS) 8.6 9.8 10.6 11.5 11.9 10.9 10.4 11.5 13.5 32

 33 FL113169305 Nonfinancial noncorporate business (FCS) 97.5 105.2 110.2 114.0 110.1 109.5 109.4 114.0 114.8 33

 34 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 34

 35 FL673069505 Securitized loans held by ABS issuers 0.0 0.0 0.3 0.4 0.3 0.3 0.3 0.4 0.4 35

 36 FL673069505 Liab.: Nonfinancial corporate business 0.0 0.0 0.3 0.4 0.3 0.3 0.3 0.4 0.4 36

 37 FL613069500 Finance company loans to business 411.5 404.7 388.0 387.2 388.8 388.1 383.2 387.2 386.5 37

 38 FL103169535 Liab.: Nonfinancial corporate business 370.4 364.2 349.2 348.5 349.9 349.3 344.8 348.5 347.9 38

 39 FL113169535 Nonfinancial noncorporate business 41.2 40.5 38.8 38.7 38.9 38.8 38.3 38.7 38.7 39

 40 FL663067003 Margin accounts at brokers and dealers 369.5 289.4 277.0 307.7 279.9 295.2 290.9 307.7 311.9 40

 41 FL663067003 Liab.: Household sector 369.5 289.4 277.0 307.7 279.9 295.2 290.9 307.7 311.9 41

 42 FL153067005 Cash accounts at brokers and dealers 869.0 820.6 817.0 791.1 833.8 831.8 807.5 791.1 769.1 42

 43 FL153067005 Asset: Household sector 869.0 820.6 817.0 791.1 833.8 831.8 807.5 791.1 769.1 43

 44 FL103169803 Loans to nonfinancial corporate business (3) 440.2 410.4 442.3 498.3 450.9 485.9 502.4 498.3 492.8 44

 45 FL153069803 Asset: Household sector 24.3 22.0 24.6 26.4 24.2 24.9 27.6 26.4 27.7 45

 46 FL543069873 Life insurance companies 31.4 29.6 32.5 36.1 31.9 34.3 37.2 36.1 37.0 46

 47 FL653069803 Mutual funds 154.5 138.9 157.5 183.2 166.1 176.2 182.0 183.2 182.2 47

 48 FL673069803 ABS issuers 159.3 158.3 159.1 165.5 156.8 166.6 160.5 165.5 161.7 48

 49 FL663069803 Brokers and dealers 58.6 48.7 52.6 67.7 55.1 60.7 73.6 67.7 70.8 49

 50 FL503069805 Funding corporations 12.1 12.9 16.0 19.4 16.9 23.2 21.6 19.4 13.5 50

(1) The Federal Home Loan Banks are included in the governmnet-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 23.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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L.217 Total Mortgages (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL893065005 Total mortgages 13480.5 13852.7 14328.8 14897.2 14427.0 14574.0 14717.0 14897.2 14986.1 1

 2 FL893065105 Home 9939.3 10070.3 10290.9 10606.4 10349.3 10431.9 10525.3 10606.4 10643.4 2

 3 FL893065405 Multifamily residential 986.2 1086.7 1195.6 1310.7 1218.6 1241.1 1266.4 1310.7 1331.5 3

 4 FL893065505 Commercial 2358.2 2487.0 2616.3 2744.0 2630.6 2669.9 2691.8 2744.0 2774.4 4

 5 FL893065603 Farm 196.8 208.8 226.0 236.1 228.5 231.0 233.6 236.1 236.8 5

 6 FL893065005 Total liabilities 13480.5 13852.7 14328.8 14897.2 14427.0 14574.0 14717.0 14897.2 14986.1 6

 7 FL153165005 Household sector 9684.2 9809.5 10021.6 10327.4 10078.6 10159.1 10248.9 10327.4 10363.6 7

 8 FL143165005 Nonfinancial business 3564.9 3807.8 4070.7 4330.3 4110.6 4177.2 4232.6 4330.3 4387.9 8

 9 FL103165005 Corporate 394.5 433.2 473.5 522.0 474.3 486.3 494.7 522.0 528.4 9

 10 FL113165005 Noncorporate 3170.3 3374.7 3597.3 3808.3 3636.3 3690.9 3737.9 3808.3 3859.5 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 FL643165005 REITs 231.4 235.4 236.5 239.5 237.8 237.7 235.5 239.5 234.6 12

 13 FL893065005 Total assets 13480.5 13852.7 14328.8 14897.2 14427.0 14574.0 14717.0 14897.2 14986.1 13

 14 FL153065005 Household sector 122.5 115.1 114.9 112.4 114.1 115.2 113.2 112.4 111.6 14

 15 FL103065003 Nonfinancial corporate business 29.0 31.4 30.3 28.4 29.8 29.3 28.9 28.4 28.0 15

 16 FL113065005 Nonfinancial noncorporate business 34.5 36.9 39.3 41.4 39.6 40.2 40.6 41.4 41.9 16

 17 FL313065005 Federal government 117.2 116.5 119.7 121.2 118.6 118.7 120.7 121.2 119.8 17

 18 FL213065005 State and local governments 210.7 215.6 227.2 237.6 228.9 227.6 231.0 237.6 238.9 18

 19 FL763065005 U.S.-chartered depository institutions 4090.7 4296.3 4537.6 4698.5 4555.3 4621.2 4661.0 4698.5 4721.5 19

 20 FL753065005 Foreign banking offices in U.S. 37.6 51.3 67.2 76.7 68.4 72.6 73.2 76.7 78.0 20

 21 FL743065003 Banks in U.S.-affiliated areas 30.4 26.6 25.9 26.0 25.5 25.2 25.3 26.0 25.5 21

 22 FL473065100 Credit unions 372.5 404.9 439.4 481.4 447.3 458.8 471.6 481.4 488.5 22

 23 FL513065503 Property-casualty insurance companies 9.9 12.3 14.9 17.2 14.2 15.7 16.6 17.2 18.0 23

 24 FL543065005 Life insurance companies 384.8 426.5 461.0 502.0 472.0 485.6 493.1 502.0 511.9 24

 25 FL573065005 Private pension funds 24.0 22.0 21.8 21.6 21.7 21.7 21.6 21.6 21.6 25

 26 FL223065043 State and local govt. retirement funds 8.3 8.4 8.3 7.8 7.7 9.2 9.1 7.8 7.6 26

 27 FL403065005 Government-sponsored enterprises (1) 4870.5 4920.1 5027.2 5193.7 5082.4 5100.5 5141.1 5193.7 5215.8 27

 28 FL413065005 Agency- and GSE-backed mortgage pools 1648.5 1775.5 1933.0 2126.6 1977.1 2022.8 2076.4 2126.6 2164.0 28

 29 FL673065005 ABS issuers 1094.1 1016.2 895.2 847.5 866.0 854.9 842.2 847.5 835.2 29

 30 FL613065000 Finance companies 148.1 159.5 138.3 123.8 134.1 129.5 127.8 123.8 125.5 30

 31 FL643065005 REITs 247.3 217.7 227.8 233.5 224.0 225.3 223.7 233.5 232.7 31

(1) Sum of home mortgages, multifamily residential mortgages, commercial mortgages, and farm mortgages.
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L.218 Home Mortgages (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL893065105 Total liabilities 9939.3 10070.3 10290.9 10606.4 10349.3 10431.9 10525.3 10606.4 10643.4 1

 2 FL153165105 Household sector 9455.8 9573.4 9777.9 10076.2 9833.1 9911.6 9999.6 10076.2 10110.5 2

 3 FL103165105 Nonfinancial corporate business 11.5 13.4 15.2 16.2 15.4 15.6 15.9 16.2 16.4 3

 4 FL113165105 Nonfinancial noncorporate business 472.0 483.5 497.9 514.0 500.8 504.8 509.8 514.0 516.4 4

 5 FL893065105 Total assets 9939.3 10070.3 10290.9 10606.4 10349.3 10431.9 10525.3 10606.4 10643.4 5

 6 FL153065103 Household sector 110.6 107.2 103.8 100.3 102.9 102.0 101.2 100.3 99.4 6

 7 FL103065105 Nonfinancial corporate business 17.4 18.8 18.1 17.0 17.9 17.6 17.3 17.0 16.8 7

 8 FL113065103 Nonfinancial noncorporate business 12.6 13.5 14.4 15.2 14.5 14.7 14.9 15.2 15.4 8

 9 FL313065105 Federal government 26.8 28.4 29.9 29.1 29.0 29.5 29.1 29.1 26.3 9

 10 FL213065103 State and local governments 108.5 111.1 117.0 122.3 117.9 117.2 119.0 122.3 123.0 10

 11 FL763065105 U.S.-chartered depository institutions 2390.5 2433.9 2509.9 2557.3 2491.9 2525.6 2545.3 2557.3 2558.5 11

 12 FL753065103 Foreign banking offices in U.S. 2.9 1.5 1.2 1.1 1.1 1.1 1.1 1.1 1.0 12

 13 FL743065103 Banks in U.S.-affiliated areas 17.4 15.8 15.1 15.4 14.9 14.7 14.6 15.4 15.0 13

 14 FL473065100 Credit unions 372.5 404.9 439.4 481.4 447.3 458.8 471.6 481.4 488.5 14

 15 FL543065105 Life insurance companies 14.8 19.0 22.5 26.0 23.4 24.5 25.2 26.0 26.8 15

 16 FL573065103 Private pension funds 1.4 1.2 1.1 0.9 1.0 1.0 1.0 0.9 0.9 16

 17 FL223065143 State and local govt. retirement funds 3.0 3.0 3.0 2.8 2.8 3.3 3.3 2.8 2.8 17

 18 FL403065105 Government-sponsored enterprises 4538.0 4571.0 4644.8 4774.4 4687.8 4702.8 4735.2 4774.4 4797.5 18

 19 FL413065105 Agency- and GSE-backed mortgage pools 1474.8 1568.8 1684.6 1825.8 1720.8 1755.8 1796.6 1825.8 1851.3 19

 20 FL673065105 ABS issuers 699.6 602.6 519.0 475.4 509.1 494.7 483.5 475.4 460.1 20

 21 FL613065105 Finance companies 104.6 123.4 106.8 95.2 104.9 100.5 99.0 95.2 96.9 21

 22 FL643065105 REITs 44.0 46.1 60.3 66.6 62.0 67.9 67.4 66.6 63.2 22

 Memo:

 23 FL893065125 Home equity loans included above (2) 673.1 641.7 600.7 569.9 590.4 584.5 576.7 569.9 557.6 23

 24 FL763065125 U.S.-chartered depository institutions 568.2 532.9 494.8 460.4 483.3 476.0 467.8 460.4 446.4 24

 25 FL753065203 Foreign banking offices in U.S. 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.2 25

 26 FL473065125 Credit unions 73.6 75.7 78.3 84.1 78.8 81.3 82.4 84.1 86.1 26

 27 FL673065123 ABS issuers 9.9 8.1 5.9 6.1 7.0 6.8 6.4 6.1 5.5 27

 28 FL613065123 Finance companies 20.9 24.7 21.4 19.0 21.0 20.1 19.8 19.0 19.4 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

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

 1 FL893065405 Total liabilities 986.2 1086.7 1195.6 1310.7 1218.6 1241.1 1266.4 1310.7 1331.5 1

 2 FL103165405 Nonfinancial corporate business 47.8 52.8 58.1 64.1 59.4 60.6 61.9 64.1 65.2 2

 3 FL113165405 Nonfinancial noncorporate business 907.4 1003.1 1104.3 1218.2 1128.1 1150.6 1175.7 1218.2 1238.8 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 FL643165483 REITs 31.1 30.8 33.1 28.4 31.2 30.0 28.8 28.4 27.6 5

 6 FL893065405 Total assets 986.2 1086.7 1195.6 1310.7 1218.6 1241.1 1266.4 1310.7 1331.5 6

 7 FL153065403 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FL103065403 Nonfinancial corporate business 0.4 0.5 0.5 0.4 0.5 0.5 0.4 0.4 0.4 8

 9 FL113065403 Nonfinancial noncorporate business 11.7 12.5 13.3 14.0 13.4 13.6 13.7 14.0 14.2 9

 10 FL313065405 Federal government 13.2 12.8 12.6 12.7 12.5 12.7 12.4 12.7 13.3 10

 11 FL213065403 State and local governments 84.3 86.3 90.9 95.0 91.6 91.0 92.4 95.0 95.6 11

 12 FL763065403 U.S.-chartered depository institutions 325.9 376.9 420.3 444.5 428.6 437.3 439.8 444.5 452.3 12

 13 FL753065403 Foreign banking offices in U.S. 1.3 2.4 4.6 5.9 4.4 5.2 5.3 5.9 6.9 13

 14 FL543065405 Life insurance companies 56.4 62.1 66.9 72.7 68.5 70.4 71.4 72.7 74.1 14

 15 FL573065403 Private pension funds 2.1 1.9 1.6 1.4 1.6 1.5 1.4 1.4 1.3 15

 16 FL223065443 State and local govt. retirement funds 2.5 2.5 2.5 2.3 2.3 2.7 2.7 2.3 2.3 16

 17 FL403065405 Government-sponsored enterprises 240.8 249.1 275.4 307.1 286.3 288.0 294.9 307.1 305.8 17

 18 FL413065405 Agency- and GSE-backed mortgage pools 172.1 204.3 245.6 299.1 253.6 265.3 278.1 299.1 311.1 18

 19 FL673065405 ABS issuers 68.4 62.0 47.9 43.1 43.7 41.2 41.9 43.1 41.4 19

 20 FL613065403 Finance companies 2.0 8.4 9.0 6.6 6.8 6.7 6.7 6.6 6.9 20

 21 FL643065405 REITs 5.1 4.8 4.6 5.8 4.9 5.1 5.1 5.8 5.9 21
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L.220 Commercial Mortgages

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL893065505 Total liabilities 2358.2 2487.0 2616.3 2744.0 2630.6 2669.9 2691.8 2744.0 2774.4 1

 2 FL163165505 Nonprofit organizations (1) 228.3 236.1 243.7 251.2 245.6 247.5 249.3 251.2 253.1 2

 3 FL103165505 Nonfinancial corporate business 283.6 311.3 339.5 377.1 337.9 347.7 353.4 377.1 381.7 3

 4 FL113165505 Nonfinancial noncorporate business 1645.8 1734.9 1829.7 1904.6 1840.4 1867.1 1882.4 1904.6 1932.5 4

 5 FL643165583 REITs 200.4 204.7 203.4 211.1 206.6 207.7 206.7 211.1 207.0 5

 6 FL893065505 Total assets 2358.2 2487.0 2616.3 2744.0 2630.6 2669.9 2691.8 2744.0 2774.4 6

 7 FL153065505 Household sector 1.1 1.0 1.0 1.1 1.1 1.1 1.1 1.1 1.1 7

 8 FL103065503 Nonfinancial corporate business 11.2 12.1 11.6 10.9 11.5 11.3 11.1 10.9 10.8 8

 9 FL113065503 Nonfinancial noncorporate business 9.5 10.1 10.8 11.4 10.9 11.0 11.1 11.4 11.5 9

 10 FL313065505 Federal government 72.1 69.3 70.7 72.3 70.6 70.8 72.2 72.3 73.0 10

 11 FL213065503 State and local governments 16.9 17.3 18.2 19.0 18.3 18.2 18.5 19.0 19.1 11

 12 FL763065503 U.S.-chartered depository institutions 1301.1 1406.3 1523.0 1608.5 1549.6 1572.1 1588.7 1608.5 1622.2 12

 13 FL753065503 Foreign banking offices in U.S. 33.2 47.2 61.3 69.6 62.7 66.2 66.7 69.6 70.0 13

 14 FL743065505 Banks in U.S.-affiliated areas 13.0 10.8 10.7 10.6 10.6 10.5 10.7 10.6 10.5 14

 15 FL513065503 Property-casualty insurance companies 9.9 12.3 14.9 17.2 14.2 15.7 16.6 17.2 18.0 15

 16 FL543065505 Life insurance companies 301.2 332.9 358.5 389.5 366.8 377.1 382.8 389.5 397.2 16

 17 FL573065505 Private pension funds 20.5 18.9 19.1 19.3 19.1 19.2 19.2 19.3 19.3 17

 18 FL223065545 State and local govt. retirement funds 2.8 2.9 2.8 2.6 2.6 3.1 3.1 2.6 2.6 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 326.1 351.5 328.4 329.0 313.2 319.1 316.8 329.0 333.7 20

 21 FL613065503 Finance companies 41.4 27.6 22.5 22.0 22.4 22.3 22.1 22.0 21.7 21

 22 FL643065505 REITs 198.2 166.8 162.8 161.1 157.0 152.3 151.1 161.1 163.6 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 196.8 208.8 226.0 236.1 228.5 231.0 233.6 236.1 236.8 1

 2 FL183165605 Nonfinancial corporate business 51.7 55.6 60.6 64.6 61.6 62.6 63.5 64.6 65.1 2

 3 FL233165605 Nonfinancial noncorporate business 145.1 153.2 165.4 171.5 166.9 168.4 170.0 171.5 171.8 3

 4 FL893065603 Total assets 196.8 208.8 226.0 236.1 228.5 231.0 233.6 236.1 236.8 4

 5 FL153065605 Household sector 10.7 6.9 10.1 11.0 10.2 12.1 11.0 11.0 11.0 5

 6 FL113065603 Nonfinancial noncorporate business 0.7 0.7 0.8 0.8 0.8 0.8 0.8 0.8 0.8 6

 7 FL313065605 Federal government 5.2 5.9 6.5 7.1 6.6 5.7 7.0 7.1 7.2 7

 8 FL213065603 State and local governments 1.1 1.1 1.1 1.2 1.1 1.1 1.2 1.2 1.2 8

 9 FL763065633 U.S.-chartered depository institutions 73.3 79.2 84.4 88.2 85.3 86.3 87.2 88.2 88.4 9

 10 FL753065603 Foreign banking offices in U.S. 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 10

 11 FL543065633 Life insurance companies 12.4 12.5 13.2 13.8 13.3 13.5 13.6 13.8 13.8 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 91.6 100.0 107.1 112.2 108.3 109.7 111.0 112.2 112.5 13

 14 FL413065605 Agency- and GSE-backed mortgage pools 1.6 2.3 2.7 1.7 2.7 1.7 1.7 1.7 1.6 14

(1) Excludes mortgages on farm houses.
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L.222 Consumer Credit

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL153166000 Total liabilities (Households) 3314.6 3413.6 3644.2 3832.7 3640.1 3695.4 3754.0 3832.7 3822.4 1

 2 FL153166000 Total assets 3314.6 3413.6 3644.2 3832.7 3640.1 3695.4 3754.0 3832.7 3822.4 2

 3 FL163066223 Nonprofit organizations (1) 47.6 44.9 41.9 36.6 40.3 38.9 37.6 36.6 34.9 3

 4 FL103066005 Nonfinancial corporate business 40.9 41.1 42.8 41.8 41.6 41.9 42.1 41.8 40.7 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) 846.2 949.7 1049.3 1145.6 1087.0 1098.3 1133.6 1145.6 1179.4 6

 7 FL763066000 U.S.-chartered depository institutions 1343.1 1428.3 1532.1 1616.5 1487.1 1514.3 1541.4 1616.5 1573.7 7

 8 FL473066000 Credit unions 302.8 342.3 380.3 418.4 386.9 404.3 408.9 418.4 432.4 8

 9 FL403066005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL673066000 ABS issuers 49.8 46.0 50.0 33.9 55.5 55.4 50.6 33.9 31.7 10

 11 FL613066005 Finance companies 684.1 561.3 547.9 539.9 541.7 542.4 539.8 539.9 529.5 11

 Memo:

 12 FL153166100 Credit card loans (3) 889.1 907.9 969.4 1028.6 930.0 955.0 969.3 1028.6 978.1 12

 13 FL153166400 Auto loans 957.6 1000.7 1072.9 1109.1 1077.6 1090.8 1101.8 1109.1 1116.6 13

 14 FL153166220 Student loans (4) 1236.3 1320.1 1407.9 1490.6 1443.2 1448.2 1480.1 1490.6 1521.0 14

 15 FL153166205 Other consumer credit (5) 231.6 184.9 194.0 204.5 189.3 201.4 202.8 204.5 206.7 15

(1) Student loans originated under the Federal Family Education Loan Program. Asset of the households and nonprofit organizations sector (tables L.101 and B.101).

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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L.223 Corporate Equities (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 LM893064105 Issues at market value 36739.0 35588.2 38415.9 45787.8 40540.1 41784.9 43505.7 45787.8 45156.2 1

 2 LM883164105 Domestic sectors 29968.4 28832.0 31418.9 36760.8 32971.5 33716.6 34883.7 36760.8 36239.8 2

 3 LM103164103 Nonfinancial corporate business 22630.0 21521.1 23064.6 26873.4 24265.3 24683.5 25559.5 26873.4 26495.0 3

 4 LM103164115 Publicly traded (2) 18637.0 17655.8 18736.2 22118.4 19812.2 20246.8 20942.8 22118.4 21815.9 4

 5 LM103164123 Closely held 3993.0 3865.3 4328.4 4754.9 4453.1 4436.6 4616.7 4754.9 4679.0 5

 6 LM793164105 Financial corporations 7338.4 7310.9 8354.3 9887.4 8706.3 9033.2 9324.1 9887.4 9744.8 6

 7 LM793164115 Publicly traded (3) 6903.7 6890.0 7865.7 9369.8 8221.4 8550.2 8821.5 9369.8 9235.4 7

 8 LM793164123 Closely held 434.7 420.8 488.6 517.7 484.8 483.0 502.6 517.7 509.4 8

 9 LM263164103 Rest of the world (4) 6770.6 6756.2 6997.0 9027.0 7568.6 8068.2 8622.1 9027.0 8916.4 9

 10 LM893064105 Holdings at market value 36739.0 35588.2 38415.9 45787.8 40540.1 41784.9 43505.7 45787.8 45156.2 10

 11 LM153064105 Household sector 14315.3 13837.2 15221.4 17949.5 15984.1 16482.4 17043.2 17949.5 17626.5 11

 12 LM313064105 Federal government 33.4 33.4 33.3 33.2 33.3 33.2 33.2 33.2 37.2 12

 13 LM213064103 State and local governments 175.3 176.4 190.8 212.7 196.7 198.6 204.1 212.7 212.2 13

 14 FL713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 LM763064105 U.S.-chartered depository institutions 108.5 100.0 106.5 131.9 112.0 116.0 122.7 131.9 129.4 15

 16 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 16

 17 LM513064105 Property-casualty insurance companies 331.1 323.0 342.0 396.2 351.4 357.0 370.1 396.2 393.1 17

 18 LM543064105 Life insurance companies 317.9 336.9 460.3 502.3 472.6 481.8 494.7 502.3 511.8 18

 19 LM573064105 Private pension funds 2284.3 2197.3 2354.0 2662.9 2436.1 2481.5 2552.7 2662.9 2612.0 19

 20 LM343064105 Federal government retirement funds 240.2 240.3 260.8 324.1 277.1 288.1 300.4 324.1 321.9 20

 21 LM223064145 State and local govt. retirement funds 2285.9 2241.0 2297.4 2610.9 2379.1 2443.2 2527.9 2610.9 2540.1 21

 22 LM653064100 Mutual funds 8799.2 8625.3 9069.9 10819.6 9604.9 9923.3 10351.3 10819.6 10658.1 22

 23 LM553064103 Closed-end funds 119.4 99.8 101.8 109.2 105.5 106.0 108.5 109.2 103.3 23

 24 LM563064103 Exchange-traded funds 1620.2 1709.7 2032.7 2775.6 2241.1 2374.4 2531.2 2775.6 2775.8 24

 25 LM663064103 Brokers and dealers 187.8 166.8 176.1 224.0 169.0 187.7 198.5 224.0 232.7 25

 26 FL503064105 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 LM263064105 Rest of the world (5) 5920.6 5500.9 5768.9 7035.6 6177.1 6311.5 6667.3 7035.6 7002.2 27

 Memo:

 28 LM883164115 Publicly traded equity at market value (6) 25540.7 24545.8 26601.9 31488.2 28033.6 28797.0 29764.3 31488.2 31051.4 28

 29 LM883164125 Closely held equity at market value (7) 4427.7 4286.2 4817.0 5272.6 4937.9 4919.7 5119.3 5272.6 5188.5 29

 30 LM883164133 S corporations 2813.3 2652.7 3169.3 3585.9 3236.6 3305.3 3481.6 3585.9 3528.7 30

 31 LM883164135 C corporations 1614.4 1633.5 1647.6 1686.7 1701.3 1614.4 1637.7 1686.7 1659.8 31

 32 PC073164013 Percent change in Dow Jones U.S. Total Market Index 10.4 -1.5 10.3 18.9 5.3 2.5 4.1 5.8 -1.0 32

(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 13150.6 12897.2 13615.6 15899.0 14327.1 14795.3 15347.0 15899.0 15874.3 1

 2 LM653164205 Holdings at market value 13150.6 12897.2 13615.6 15899.0 14327.1 14795.3 15347.0 15899.0 15874.3 2

 3 LM153064205 Household sector 6828.7 6758.5 7240.3 8628.6 7665.3 7917.0 8300.9 8628.6 8676.8 3

 4 LM103064203 Nonfinancial corporate business 234.6 235.7 236.9 276.5 249.1 257.0 267.0 276.5 276.1 4

 5 LM213064203 State and local governments 84.9 85.5 92.9 104.2 95.9 96.9 99.7 104.2 103.9 5

 6 LM763064203 U.S.-chartered depository institutions 59.7 54.9 58.0 67.2 60.6 60.7 63.5 67.2 60.1 6

 7 LM473064205 Credit unions 2.1 1.9 1.9 2.3 2.1 2.1 2.3 2.3 2.4 7

 8 LM513064203 Property-casualty insurance companies 18.2 18.4 19.3 23.5 20.5 21.4 22.4 23.5 24.0 8

 9 LM543064205 Life insurance companies 1682.0 1609.4 1539.1 1683.9 1586.3 1611.3 1647.9 1683.9 1654.3 9

 10 LM573064205 Private pension funds 3175.5 3055.4 3291.9 3801.8 3456.5 3564.8 3676.5 3801.8 3782.5 10

 11 LM223064205 State and local govt. retirement funds 448.2 476.9 448.5 501.0 471.9 481.1 483.8 501.0 492.5 11

 12 LM263064203 Rest of the world 616.6 600.6 686.7 809.9 719.0 782.9 783.0 809.9 801.7 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL893170005 Total trade payables 4084.4 4234.2 4571.4 4904.0 4638.4 4722.7 4818.2 4904.0 4999.5 1

 2 FL163170005 Nonprofit organizations (1) 322.1 334.7 349.0 364.8 352.9 356.9 360.8 364.8 368.5 2

 3 FL103170005 Nonfinancial corporate business 2088.4 2110.8 2305.4 2515.8 2338.7 2390.3 2449.8 2515.8 2581.1 3

 4 FL113170005 Nonfinancial noncorporate business 536.7 589.1 634.0 671.9 643.4 655.7 665.6 671.9 683.1 4

 5 FL313170005 Federal government 249.3 265.1 296.2 320.2 303.6 311.7 319.4 320.2 328.3 5

 6 FL213170003 State and local governments 823.0 863.5 904.7 947.2 915.2 925.7 936.3 947.2 958.3 6

 7 FL663170003 Brokers and dealers 17.9 26.3 36.7 32.5 35.3 32.2 34.6 32.5 34.5 7

 8 LM263170003 Rest of the world 47.0 44.8 45.4 51.6 49.3 50.2 51.7 51.6 45.8 8

 9 FL893070005 Total trade receivables 4099.7 4231.1 4542.2 4869.2 4651.4 4765.8 4852.0 4869.2 5017.2 9

 10 FL163070005 Nonprofit organizations (1) 240.7 257.9 276.5 296.2 281.4 286.3 291.2 296.2 300.9 10

 11 FL103070005 Nonfinancial corporate business 2662.3 2694.4 2913.2 3134.0 2992.6 3081.5 3141.8 3134.0 3246.7 11

 12 FL113070003 Nonfinancial noncorporate business 668.9 716.1 761.7 803.6 769.1 779.3 787.2 803.6 813.7 12

 13 FL313070000 Federal government 48.4 61.2 64.9 64.0 63.2 66.0 66.6 64.0 66.0 13

 14 FL213070003 State and local governments 183.8 189.0 205.8 223.5 208.7 211.8 216.7 223.5 227.8 14

 15 FL513070003 Property-casualty insurance companies 103.8 110.1 110.6 121.7 118.0 122.8 123.9 121.7 130.8 15

 16 FL673070003 ABS issuers 31.4 34.1 33.9 32.5 34.0 33.1 33.2 32.5 32.7 16

 17 LM263070003 Rest of the world 160.3 168.4 175.5 193.7 184.2 185.0 191.4 193.7 198.6 17

 18 FL903070005 Discrepancy -15.3 3.2 29.1 34.8 -13.0 -43.2 -33.8 34.8 -17.7 18

(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 FL883140005 Total liabilities 1477.4 1514.3 1554.8 1612.5 1572.5 1580.4 1596.5 1612.5 1618.2 1

 2 FL313140003 Federal government 51.3 51.1 51.3 51.1 51.0 50.9 51.0 51.1 51.2 2

 3 FL543140005 Life insurance companies 1426.1 1463.1 1503.5 1561.4 1521.5 1529.6 1545.5 1561.4 1567.0 3

 4 FL883140005 Total assets 1477.4 1514.3 1554.8 1612.5 1572.5 1580.4 1596.5 1612.5 1618.2 4

 5 FL153040005 Household sector 1282.8 1309.1 1340.0 1387.3 1355.3 1360.9 1373.8 1387.3 1390.8 5

 6 FL763040005 U.S.-chartered depository institutions 149.6 156.2 161.8 168.2 163.2 164.5 166.7 168.2 169.4 6

 7 FL733040005 Holding companies 45.0 49.0 53.0 57.0 54.0 55.0 56.0 57.0 58.0 7
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L.227 Pension Entitlements

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL153050005 Total liabilities 20623.3 20911.0 21836.5 23292.6 22261.4 22549.0 22880.4 23292.6 23315.7 1

 2 FL543150005 Life insurance companies (1) 2832.8 2877.6 3015.5 3220.2 3081.8 3120.4 3163.9 3220.2 3193.2 2

 3 FL574190005 Private pension funds (2) 8383.9 8274.0 8735.5 9528.8 8978.7 9121.9 9299.0 9528.8 9498.4 3

 4 FL344090005 Federal government retirement funds (3) 3688.4 3794.8 3925.5 4089.7 3968.1 4004.7 4045.2 4089.7 4116.1 4

 5 FL224190005 State and local govt. retirement funds 5718.3 5964.7 6160.0 6453.8 6232.8 6302.1 6372.2 6453.8 6508.1 5

 6 FL153050005 Total assets (Households) (4) 20623.3 20911.0 21836.5 23292.6 22261.4 22549.0 22880.4 23292.6 23315.7 6

 Memo:

 7 LM893131573 Individual Retirement Accounts (IRAs): (5) 7292.0 7477.0 8080.0 9200.0 8400.0 8600.0 8850.0 9200.0 ND 7

 8 FL763131573 U.S.-chartered depository institutions 427.8 445.8 482.3 469.2 477.1 469.0 468.3 469.2 ND 8

 9 FL473131573 Credit unions 77.6 77.4 78.9 78.4 78.9 79.1 79.0 78.4 ND 9

 10 LM543131503 Life insurance companies 570.0 578.0 609.0 642.0 620.0 628.0 634.0 642.0 ND 10

 11 FL633131573 Money market funds 218.0 214.0 243.0 240.0 243.0 236.0 240.0 240.0 ND 11

 12 LM653131573 Mutual funds 3126.0 3103.0 3284.0 3840.0 3453.0 3561.0 3682.0 3840.0 ND 12

 13 LM153131575 Other self-directed accounts 2872.6 3058.9 3382.8 3930.3 3528.0 3626.9 3746.7 3930.3 ND 13

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Asset of the household and nonprofit organizations sector (tables L.101 and B.101). Figures for depositories (lines 8 and 9) include Keogh accounts. Variable annuities in IRAs are included

 in the life insurance sector (line 10) and excluded from the money market fund and mutual fund sectors (lines 11 and 12).

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 265.9 260.5 258.2 537.6 260.9 261.9 272.6 537.6 529.7 1

 2 FL103178005 Nonfinancial corporate business 43.5 42.2 33.5 246.4 43.2 41.5 39.7 246.4 250.5 2

 3 FL113178003 Nonfinancial noncorporate business 117.4 120.8 124.2 127.2 124.7 125.5 126.0 127.2 128.0 3

 4 FL763178003 U.S.-chartered depository institutions 80.0 71.9 72.6 104.4 65.3 69.9 80.8 104.4 90.6 4

 5 FL513178005 Property-casualty insurance companies 6.6 7.4 8.4 13.1 8.0 6.7 7.2 13.1 14.0 5

 6 FL543178075 Life insurance companies 6.6 7.4 8.4 10.5 8.0 6.7 7.2 10.5 10.3 6

 7 FL613178005 Finance companies 7.8 7.6 7.9 19.7 7.7 7.8 6.8 19.7 19.0 7

 8 FL663178005 Brokers and dealers 4.0 3.2 3.3 16.3 3.9 4.1 4.8 16.3 17.3 8

 9 FL893078005 Total business taxes receivable 309.2 327.2 340.8 613.0 346.1 351.7 357.0 613.0 583.5 9

 10 FL313078005 Federal government 165.6 179.2 189.5 458.6 194.3 199.0 203.8 458.6 428.4 10

 11 FL213078005 State and local governments 143.6 148.0 151.3 154.4 151.9 152.6 153.2 154.4 155.1 11

 12 FL903078005 Discrepancy -43.3 -66.7 -82.6 -75.4 -85.3 -89.7 -84.4 -75.4 -53.9 12

L.229 Proprietors’ Equity in Noncorporate Business

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

 1 LM152090205 Total household equity 9842.5 10471.1 11139.4 11821.6 11209.4 11451.1 11611.1 11821.6 11925.2 1

 2 LM112090205 Nonfinancial noncorporate business 9801.9 10425.8 11078.4 11758.3 11146.8 11389.3 11548.1 11758.3 11864.1 2

 3 LM662090205 Brokers and dealers 40.6 45.4 61.0 63.3 62.6 61.8 63.0 63.3 61.1 3
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L.230 Direct Investment

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad:

 1 LM263192005 Liab.: Rest of the world (1) 5633.1 5783.7 6088.7 6505.1 6223.9 6312.4 6421.9 6505.1 6388.5 1

 2 LM263192101 Equity 5396.5 5563.9 5899.6 6329.3 6022.3 6125.6 6243.7 6329.3 6220.9 2

 3 LM263192305 Intercompany debt (2) 236.7 219.9 189.1 175.9 201.6 186.8 178.3 175.9 167.6 3

 4 LM263192313 U.S. parents’ claims 764.6 802.8 797.2 822.6 820.0 817.1 828.8 822.6 818.3 4

 5 LM263092313 Less: U.S. parents’ liabilities 528.0 583.0 608.1 646.7 618.4 630.3 650.5 646.7 650.6 5

 6 LM103092005 Asset: Nonfinancial corporate business 4720.8 4930.7 5208.5 5562.7 5330.1 5410.8 5516.7 5562.7 5456.6 6

 7 LM763092000 U.S.-chartered depository institutions 256.2 239.3 227.1 237.2 230.3 229.6 228.1 237.2 237.1 7

 8 LM513092003 Property-casualty insurance companies 119.2 110.1 113.4 116.2 114.9 118.6 120.0 116.2 109.8 8

 9 LM543092073 Life insurance companies 75.3 61.9 63.0 70.2 63.9 65.2 64.3 70.2 68.5 9

 10 LM613092003 Finance companies 225.2 229.1 251.5 281.8 256.8 257.6 262.4 281.8 280.3 10

 11 LM663092003 Brokers and dealers 236.4 212.7 225.3 237.1 227.8 230.7 230.4 237.1 236.2 11

 Foreign direct investment in U.S.:

 12 LM103192005 Liab.: Nonfinancial corporate business 2933.6 3302.8 3668.3 3899.0 3679.9 3784.3 3841.7 3899.0 3948.5 12

 13 LM115114005 Nonfinancial noncorporate business 9.2 11.9 12.8 15.8 12.9 13.7 14.0 15.8 15.9 13

 14 LM753192003 Foreign banking offices in U.S. 198.0 193.4 190.7 203.6 195.2 193.9 195.0 203.6 203.9 14

 15 LM513192003 Property-casualty insurance companies 67.1 76.7 117.7 120.4 118.0 119.7 121.1 120.4 119.6 15

 16 LM543192073 Life insurance companies 82.7 87.7 100.3 100.8 100.4 104.4 105.7 100.8 102.7 16

 17 LM613192003 Finance companies 84.3 66.2 66.8 44.6 68.1 67.9 67.8 44.6 44.0 17

 18 LM663192005 Brokers and dealers 151.9 159.1 61.1 89.1 63.1 69.2 66.0 89.1 90.0 18

 19 FL733192003 Holding companies 0.0 17.5 158.9 170.1 166.8 170.8 178.2 170.1 168.2 19

 20 FL503192003 Funding corporations 13.8 14.4 15.0 15.6 15.2 15.3 15.5 15.6 15.8 20

 21 LM263092001 Asset: Rest of the world (1) 3540.7 3929.7 4391.6 4658.9 4419.4 4539.1 4605.1 4658.9 4708.5 21

 22 LM263092101 Equity 2979.5 3296.5 3619.5 3907.4 3704.9 3774.8 3851.3 3907.4 3955.4 22

 23 LM263092303 Intercompany debt 561.1 633.2 772.1 751.5 714.5 764.3 753.8 751.5 753.2 23

 24 LM263092323 U.S. affiliates’ liabilities 945.8 1041.5 1177.7 1169.2 1181.5 1163.1 1173.7 1169.2 1171.1 24

 25 LM263192323 Less: U.S. affiliates’ claims 384.7 408.2 405.5 417.7 466.9 398.8 420.0 417.7 418.0 25

 Memo:

 Direct investment, asset/liability presentation:

 26 LM263192035 Direct investment assets 6545.8 6774.9 7102.4 7569.5 7309.2 7341.4 7492.4 7569.5 7457.2 26

 27 LM263192101 Equity (line 2) 5396.5 5563.9 5899.6 6329.3 6022.3 6125.6 6243.7 6329.3 6220.9 27

 28 LM263192345 Intercompany debt 1149.3 1211.0 1202.7 1240.2 1286.9 1215.8 1248.7 1240.2 1236.3 28

 29 LM263192313 U.S. parents’ claims (line 4) 764.6 802.8 797.2 822.6 820.0 817.1 828.8 822.6 818.3 29

 30 LM263192323 U.S. affiliates’ claims (line 24) 384.7 408.2 405.5 417.7 466.9 398.8 420.0 417.7 418.0 30

 31 LM263092035 Direct investment liabilities 4453.3 4920.9 5405.3 5723.3 5504.8 5568.2 5675.6 5723.3 5777.2 31

 32 LM263092101 Equity (line 21) 2979.5 3296.5 3619.5 3907.4 3704.9 3774.8 3851.3 3907.4 3955.4 32

 33 LM263092345 Intercompany debt 1473.8 1624.4 1785.8 1815.9 1799.8 1793.3 1824.2 1815.9 1821.8 33

 34 LM263092313 U.S. parents’ liabilities (line 5) 528.0 583.0 608.1 646.7 618.4 630.3 650.5 646.7 650.6 34

 35 LM263092323 U.S. affiliates’ liabilities (line 23) 945.8 1041.5 1177.7 1169.2 1181.5 1163.1 1173.7 1169.2 1171.1 35

 Alternative valuations of direct investment assets:

 U.S. direct investment abroad:

 36 LM263192045 Market value 6276.8 6007.8 6361.4 7799.0 6810.1 7096.1 7525.0 7799.0 7879.8 36

 37 LM263192141 Equity 6040.1 5787.9 6172.3 7623.2 6608.5 6909.4 7346.7 7623.2 7712.1 37

 38 LM263192305 Intercompany debt 236.7 219.9 189.1 175.9 201.6 186.8 178.3 175.9 167.6 38

 39 FL263192055 Historical cost 4910.1 5048.8 5332.2 5740.4 5464.0 5550.3 5658.3 5740.4 5642.9 39

 40 FL263192151 Equity 4673.4 4828.9 5143.1 5564.5 5262.4 5363.5 5480.1 5564.5 5475.3 40

 41 FL263192305 Intercompany debt 236.7 219.9 189.1 175.9 201.6 186.8 178.3 175.9 167.6 41

 Foreign direct investment in U.S.:

 42 LM263092045 Market value 5456.9 5709.7 6555.6 7807.0 6867.1 7105.5 7383.6 7807.0 7861.2 42

 43 LM263092141 Equity 4895.8 5076.4 5783.5 7055.5 6152.6 6341.2 6629.8 7055.5 7108.1 43

 44 LM263092303 Intercompany debt 561.1 633.2 772.1 751.5 714.5 764.3 753.8 751.5 753.2 44

 45 FL263092055 Historical cost 2945.8 3303.6 3725.4 3985.4 3748.6 3866.1 3931.4 3985.4 3928.9 45

 46 FL263092151 Equity 2384.7 2670.3 2953.3 3233.9 3034.1 3101.8 3177.7 3233.9 3175.7 46

 47 FL263092303 Intercompany debt 561.1 633.2 772.1 751.5 714.5 764.3 753.8 751.5 753.2 47

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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L.231 Total Miscellaneous Financial Claims

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL893190005 Total liabilities 16486.9 16971.5 17868.1 18436.5 18096.2 18363.9 18218.2 18436.5 18548.0 1

 2 FL543077073 Household sector 29.9 31.6 31.3 33.1 32.7 33.1 33.2 33.1 35.5 2

 3 FL103190005 Nonfinancial corporate business 4006.2 4440.9 4730.7 4550.0 4606.1 4538.1 4507.9 4550.0 4560.5 3

 4 FL113193003 Nonfinancial noncorporate business 1339.4 1367.9 1385.3 1402.6 1389.5 1393.8 1398.1 1402.6 1410.9 4

 5 FL313190005 Federal government 2062.8 2083.7 2105.4 2299.0 2276.8 2403.5 2177.8 2299.0 2163.8 5

 6 FL223073045 State and local governments 1499.5 1806.4 1880.0 1674.0 1818.7 1775.7 1724.5 1674.0 1811.6 6

 7 FL713190005 Monetary authority 34.2 58.4 63.1 86.2 98.0 104.7 101.0 86.2 113.4 7

 8 FL763190005 U.S.-chartered depository institutions 2738.7 2786.4 2914.9 2993.3 2965.9 3006.7 3050.5 2993.3 2959.1 8

 9 FL753190005 Foreign banking offices in U.S. 222.8 213.7 196.6 193.2 207.2 188.5 183.8 193.2 205.2 9

 10 FL743193005 Banks in U.S.-affiliated areas 7.4 5.3 4.1 4.4 3.8 4.2 3.9 4.4 4.1 10

 11 FL473193005 Credit unions 15.4 16.0 23.1 18.2 15.7 16.6 17.7 18.2 32.5 11

 12 FL513190005 Property-casualty insurance companies 1018.6 1022.6 1022.9 1089.2 1041.9 1065.7 1117.3 1089.2 1102.2 12

 13 FL543190005 Life insurance companies 1406.1 1371.6 1439.9 1552.6 1470.4 1506.0 1528.7 1552.6 1560.9 13

 14 FL403190005 Government-sponsored enterprises 111.0 106.5 110.1 110.5 101.0 102.8 109.4 110.5 109.1 14

 15 FL613190005 Finance companies 208.8 199.1 168.5 160.3 166.1 169.1 139.9 160.3 135.3 15

 16 FL643193005 REITs 82.3 80.4 96.7 101.2 94.3 98.0 107.5 101.2 96.7 16

 17 FL663190005 Brokers and dealers 236.9 231.7 348.1 402.0 330.6 340.4 330.5 402.0 358.5 17

 18 FL733193005 Holding companies 708.2 391.4 402.0 702.8 507.8 671.5 647.4 702.8 708.8 18

 19 FL503190005 Funding corporations 608.7 613.4 793.7 908.7 817.2 785.5 886.5 908.7 1009.3 19

 20 FL263190005 Rest of the world 149.8 144.6 151.6 155.1 152.5 159.9 152.6 155.1 170.8 20

 21 FL893090005 Total assets 25043.1 26534.0 28483.7 29267.4 28681.4 29035.8 28948.0 29267.4 29766.1 21

 22 FL153090005 Household sector 917.6 951.7 1004.9 1047.2 1005.8 1011.9 1039.6 1047.2 1059.8 22

 23 FL103090005 Nonfinancial corporate business 7679.3 8844.0 9831.8 10252.3 9836.9 9917.4 9994.3 10252.3 10398.5 23

 24 FL113090005 Nonfinancial noncorporate business 3026.8 3224.8 3423.0 3569.3 3449.0 3491.0 3526.0 3569.3 3607.9 24

 25 FL313090005 Federal government 158.6 173.0 186.2 196.4 190.2 188.7 191.6 196.4 198.7 25

 26 FL213093003 State and local governments 113.5 120.9 127.4 133.1 128.3 127.5 129.5 133.1 133.9 26

 27 FL713090005 Monetary authority 235.5 216.8 205.0 196.5 198.5 193.7 190.5 196.5 183.6 27

 28 FL763090005 U.S.-chartered depository institutions 542.9 554.1 592.8 522.5 568.0 580.9 563.7 522.5 533.5 28

 29 FL753093005 Foreign banking offices in U.S. 71.3 58.4 63.3 103.2 60.5 70.7 77.1 103.2 97.9 29

 30 FL743093005 Banks in U.S.-affiliated areas 33.4 34.9 41.6 33.9 41.2 40.8 33.0 33.9 34.2 30

 31 FL473090005 Credit unions 66.4 72.6 98.4 79.1 84.2 80.6 78.0 79.1 90.8 31

 32 FL513090005 Property-casualty insurance companies 194.1 222.5 237.3 247.1 262.9 266.2 272.4 247.1 258.9 32

 33 FL543090005 Life insurance companies 518.8 500.0 553.6 567.7 563.9 567.8 583.4 567.7 543.1 33

 34 FL573090005 Private pension funds 1440.8 1584.9 1609.5 1515.9 1586.8 1563.5 1543.3 1515.9 1577.6 34

 35 FL343073005 Federal government retirement funds 1803.7 1817.8 1827.3 2011.8 2001.1 2129.9 1902.3 2011.8 1877.0 35

 36 FL223090005 State and local govt. retirement funds 1811.7 2120.0 2230.6 2059.7 2177.0 2139.2 2095.1 2059.7 2198.6 36

 37 FL633093005 Money market funds 17.0 10.0 3.6 3.2 3.8 3.3 4.3 3.2 2.6 37

 38 FL653093005 Mutual funds 268.3 217.1 227.0 293.1 271.3 266.9 281.4 293.1 443.8 38

 39 LM563093003 Exchange-traded funds 57.0 49.3 62.8 68.9 66.1 66.3 69.0 68.9 71.7 39

 40 FL403093005 Government-sponsored enterprises 154.7 148.2 150.7 111.0 124.4 132.2 134.6 111.0 104.6 40

 41 FL673090543 ABS issuers 62.2 63.8 70.7 82.9 73.5 77.4 83.6 82.9 85.4 41

 42 FL613090005 Finance companies 56.1 58.2 45.5 30.5 38.5 34.2 28.2 30.5 27.1 42

 43 FL643090005 REITs 126.9 138.1 169.0 179.7 165.9 167.2 176.7 179.7 191.2 43

 44 FL663090005 Brokers and dealers 800.6 786.6 754.0 828.4 791.5 805.3 793.1 828.4 880.7 44

 45 FL733090005 Holding companies 4175.5 3806.4 4176.8 4391.4 4178.3 4352.6 4409.3 4391.4 4398.7 45

 46 FL503094505 Funding corporations 710.6 760.3 791.0 742.8 813.8 760.4 748.0 742.8 766.5 46

 47 FL903090005 Discrepancy -8556.2 -9562.5 -10615.6 -10830.9 -10585.1 -10671.9 -10729.8 -10830.9 -11218.1 47
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L.232 Identified Miscellaneous Financial Claims - Part I

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 Federal government equity in IBRD, etc.:

 1 FL313092803 Liab.: Rest of the world 62.4 64.6 66.6 67.4 66.7 66.7 67.4 67.4 67.4 1

 2 FL313092803 Asset: Federal government 62.4 64.6 66.6 67.4 66.7 66.7 67.4 67.4 67.4 2

 Federal Reserve Bank stock:

 3 FL713164003 Liab.: Monetary authority 28.6 29.5 30.4 31.4 30.6 30.8 31.2 31.4 31.7 3

 4 FL713164003 Asset: U.S.-chartered depository institutions 28.6 29.5 30.4 31.4 30.6 30.8 31.2 31.4 31.7 4

 Equity in government-sponsored enterprises:

 5 FL403192405 Liab.: Government-sponsored enterprises 42.9 44.2 46.9 51.1 46.0 48.0 50.3 51.1 50.7 5

 6 FL103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.7 0.8 0.9 1.2 1.1 1.0 1.2 1.2 1.4 6

 7 FL113092405 Nonfinancial noncorporate (FCS) 8.5 9.0 9.7 12.3 9.9 10.1 12.2 12.3 12.0 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) 27.3 25.9 27.8 28.5 26.4 28.3 28.4 28.5 28.2 9

 10 FL473092403 Credit unions (FHLB) 2.9 3.3 3.4 4.1 3.5 3.6 3.7 4.1 3.7 10

 11 FL513092403 Property-casualty insurance companies (FHLB) 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 11

 12 FL543092473 Life insurance companies (FHLB) 3.0 3.4 3.8 4.2 4.1 4.0 4.0 4.2 4.5 12

 13 FL613092403 Finance companies 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 13

 14 FL643092473 Real estate investment trusts (FHLB) 0.3 1.4 0.9 0.5 0.7 0.7 0.6 0.5 0.5 14

 Holding company net transactions with subsidiaries:

 15 FL763194735 Liab.: U.S.-chartered depository institutions 2133.2 2175.3 2285.8 2377.1 2329.5 2356.5 2401.3 2377.1 2346.6 15

 16 FL513194733 Property-casualty insurance companies 5.3 4.5 4.3 4.8 3.9 4.4 4.6 4.8 5.3 16

 17 FL543194733 Life insurance companies 11.5 12.0 13.3 15.8 13.6 14.3 14.7 15.8 15.1 17

 18 FL613194733 Finance companies 54.0 45.3 34.4 28.4 32.3 31.6 28.4 28.4 20.6 18

 19 FL663194735 Brokers and dealers 1100.6 1042.7 1156.4 1029.0 1010.1 994.2 1035.7 1029.0 1035.2 19

 20 FL263194735 Rest of the world 83.3 76.4 76.8 73.1 78.1 87.5 78.9 73.1 95.8 20

 21 FL733094703 Asset: Holding companies 3387.9 3356.3 3571.1 3528.3 3467.5 3488.5 3563.6 3528.3 3518.6 21

 NFC investment in finance company subsidiaries:

 22 FL103094105 Liab.: Finance companies 108.8 111.3 98.2 110.8 98.2 102.3 99.9 110.8 112.7 22

 23 FL103094105 Asset: Nonfinancial corporate business 108.8 111.3 98.2 110.8 98.2 102.3 99.9 110.8 112.7 23

 Funding corporations’ investment in subsidiaries:

 24 FL753194503 Liab.: Foreign banking offices in U.S. 103.2 105.4 99.8 79.7 110.1 89.1 81.5 79.7 90.7 24

 25 FL663194505 Brokers and dealers 607.3 654.9 691.3 663.1 703.7 671.3 666.5 663.1 675.8 25

 26 FL503094505 Asset: Funding corporations 710.6 760.3 791.0 742.8 813.8 760.4 748.0 742.8 766.5 26

 Equity investment under Public-Private Inv. Program:

 27 LM503194305 Liab.: Funding corporations 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

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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136 Z.1, June 7, 2018

L.233 Identified Miscellaneous Financial Claims - Part II

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 FL263191103 Liab.: Rest of the world 4.2 3.6 8.2 14.7 7.7 5.7 6.2 14.7 7.6 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) 1.5 1.0 5.6 12.1 5.1 3.1 3.6 12.1 5.0 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 9.1 8.5 8.1 7.8 8.5 9.3 8.0 7.8 8.2 6

 7 FL403197033 Asset: U.S.-chartered depository institutions 9.1 8.5 8.1 7.8 8.5 9.3 8.0 7.8 8.2 7

 Funding agreements backing securities:

 8 FL673090543 Liab.: Life insurance companies (2) 62.2 63.8 70.7 82.9 73.5 77.4 83.6 82.9 85.4 8

 9 FL673090543 Asset: ABS issuers 62.2 63.8 70.7 82.9 73.5 77.4 83.6 82.9 85.4 9

 Deferred and unpaid life insurance premiums:

 10 FL543077073 Liab.: Household sector 29.9 31.6 31.3 33.1 32.7 33.1 33.2 33.1 35.5 10

 11 FL543077073 Asset: Life insurance companies 29.9 31.6 31.3 33.1 32.7 33.1 33.2 33.1 35.5 11

 Life insurance company reserves:

 12 FL543195005 Liab.: Life insurance companies 310.0 313.4 336.2 351.8 342.6 344.3 346.6 351.8 361.0 12

 13 FL543195105 Accident and health 228.3 236.3 258.2 271.6 262.9 264.6 265.2 271.6 278.1 13

 14 FL543195205 Policy dividend accumulation 38.8 33.5 32.8 32.3 33.0 33.4 34.1 32.3 32.8 14

 15 FL543195373 Contract claims 42.9 43.5 45.2 47.8 46.8 46.3 47.3 47.8 50.1 15

 16 FL543195005 Asset: Household sector 310.0 313.4 336.2 351.8 342.6 344.3 346.6 351.8 361.0 16

 Policy payables:

 17 FL513176003 Liab.: Property-casualty insurance companies 822.5 838.1 859.0 893.5 852.4 866.1 911.3 893.5 899.5 17

 18 FL153076005 Asset: Household sector 350.3 373.7 391.1 408.3 387.9 394.3 417.6 408.3 412.0 18

 19 FL103076005 Nonfinancial corporate business 343.3 345.6 352.2 366.1 349.6 355.2 373.1 366.1 368.4 19

 20 FL113076005 Nonfinancial noncorporate business 128.9 118.8 115.7 119.1 114.9 116.6 120.6 119.1 119.1 20

 Unallocated insurance company contracts:

 21 FL593095005 Liab.: Life insurance companies 672.3 645.5 655.4 699.1 665.8 674.6 686.3 699.1 694.1 21

 22 FL573095005 Asset: Private pension funds 527.4 501.0 517.1 544.7 526.1 532.3 539.2 544.7 540.8 22

 23 FL223095505 State and local government retirement funds 144.9 144.5 138.3 154.4 139.7 142.3 147.1 154.4 153.3 23

 Pension fund contributions payable:

 24 FL573074005 Liab.: Nonfinancial corporate business 76.1 90.8 96.3 102.8 98.5 98.9 100.4 102.8 103.8 24

 25 FL573074005 Asset: Private pension funds 76.1 90.8 96.3 102.8 98.5 98.9 100.4 102.8 103.8 25

 Securities borrowed (net):

 26 FL663097005 Liab.: Funding corporations 720.6 706.8 666.3 737.1 714.8 722.4 709.9 737.1 791.6 26

 27 FL663097005 Asset: Brokers and dealers 720.6 706.8 666.3 737.1 714.8 722.4 709.9 737.1 791.6 27

 Retiree health care funds:

 28 FL313195105 Liab.: Federal government (3) 257.3 264.7 277.6 287.1 275.3 273.3 275.3 287.1 286.8 28

 29 FL313195105 Asset: Household sector 257.3 264.7 277.6 287.1 275.3 273.3 275.3 287.1 286.8 29

 Claims of pension fund on sponsor:

 30 FL573073005 Liab.: Nonfinancial corporate business 176.7 348.3 328.1 172.0 285.8 254.2 218.7 172.0 231.5 30

 31 FL343073005 Federal government 1803.7 1817.8 1827.3 2011.8 2001.1 2129.9 1902.3 2011.8 1877.0 31

 32 FL223073045 State and local governments 1499.5 1806.4 1880.0 1674.0 1818.7 1775.7 1724.5 1674.0 1811.6 32

 33 FL573073005 Asset: Private pension funds 176.7 348.3 328.1 172.0 285.8 254.2 218.7 172.0 231.5 33

 34 FL343073005 Federal government retirement funds 1803.7 1817.8 1827.3 2011.8 2001.1 2129.9 1902.3 2011.8 1877.0 34

 35 FL223073045 State and local govt. retirement funds 1499.5 1806.4 1880.0 1674.0 1818.7 1775.7 1724.5 1674.0 1811.6 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables L.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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL893193005 Total liabilities 5701.7 5666.0 6219.3 6837.2 6395.8 6602.3 6651.4 6837.2 6807.0 1

 2 FL103193005 Nonfinancial corporate business 3753.4 4001.8 4306.2 4275.3 4221.8 4185.0 4188.8 4275.3 4225.2 2

 3 FL113193003 Nonfinancial noncorporate business 1339.4 1367.9 1385.3 1402.6 1389.5 1393.8 1398.1 1402.6 1410.9 3

 4 FL313193013 Federal government 1.8 1.2 0.6 0.1 0.4 0.3 0.2 0.1 0.0 4

 5 FL713193005 Monetary authority 5.6 28.9 32.6 54.8 67.4 73.8 69.8 54.8 81.7 5

 6 FL763193005 U.S.-chartered depository institutions 605.5 611.1 629.0 616.1 636.4 650.1 649.2 616.1 612.5 6

 7 FL753193005 Foreign banking offices in U.S. 119.6 108.3 96.9 113.5 97.1 99.4 102.3 113.5 114.5 7

 8 FL743193005 Banks in U.S.-affiliated areas 7.4 5.3 4.1 4.4 3.8 4.2 3.9 4.4 4.1 8

 9 FL473193005 Credit unions 15.4 16.0 23.1 18.2 15.7 16.6 17.7 18.2 32.5 9

 10 FL513193005 Property-casualty insurance companies 190.8 180.0 159.6 190.9 185.6 195.3 201.4 190.9 197.5 10

 11 FL543193005 Life insurance companies 350.2 337.0 364.3 403.1 374.8 395.5 397.4 403.1 405.2 11

 12 FL403193005 Government-sponsored enterprises 59.0 53.7 55.1 51.5 46.5 45.4 51.1 51.5 50.1 12

 13 FL613193005 Finance companies 46.0 42.5 35.9 21.2 35.6 35.3 11.7 21.2 2.1 13

 14 FL643193005 REITs 82.3 80.4 96.7 101.2 94.3 98.0 107.5 101.2 96.7 14

 15 FL663193005 Brokers and dealers -1471.1 -1466.0 -1499.5 -1290.0 -1383.1 -1325.0 -1371.7 -1290.0 -1352.5 15

 16 FL733193005 Holding companies 708.2 391.4 402.0 702.8 507.8 671.5 647.4 702.8 708.8 16

 17 FL503193005 Funding corporations -112.0 -93.4 127.4 171.6 102.3 63.1 176.6 171.6 217.7 17

 18 FL893093005 Total assets 14257.9 15228.5 16835.0 17668.1 16981.0 17274.2 17381.2 17668.1 18025.1 18

 19 FL103093005 Nonfinancial corporate business 7226.5 8386.3 9380.5 9774.2 9388.1 9458.9 9520.2 9774.2 9916.1 19

 20 FL113093005 Nonfinancial noncorporate business 2889.4 3097.0 3297.5 3438.0 3324.2 3364.3 3393.2 3438.0 3476.8 20

 21 FL313093003 Federal government 93.6 105.8 117.0 126.4 120.8 119.3 121.6 126.4 128.7 21

 22 FL213093003 State and local governments 113.5 120.9 127.4 133.1 128.3 127.5 129.5 133.1 133.9 22

 23 FL713093005 Monetary authority 233.9 215.8 199.5 184.4 193.4 190.6 186.9 184.4 178.5 23

 24 FL763093005 U.S.-chartered depository institutions 478.0 490.2 526.5 454.8 502.4 512.4 496.1 454.8 465.4 24

 25 FL753093005 Foreign banking offices in U.S. 71.3 58.4 63.3 103.2 60.5 70.7 77.1 103.2 97.9 25

 26 FL743093005 Banks in U.S.-affiliated areas 33.4 34.9 41.6 33.9 41.2 40.8 33.0 33.9 34.2 26

 27 FL473093005 Credit unions 63.5 69.2 95.0 75.0 80.8 77.0 74.3 75.0 87.1 27

 28 FL513093005 Property-casualty insurance companies 193.9 222.3 237.2 246.9 262.8 266.0 272.2 246.9 258.7 28

 29 FL543093005 Life insurance companies 485.9 464.9 518.5 530.4 527.1 530.8 546.2 530.4 503.1 29

 30 FL573093005 Private pension funds 660.6 644.8 668.0 696.5 676.4 678.1 685.0 696.5 701.6 30

 31 FL223093005 State and local govt. retirement funds 167.3 169.1 212.4 231.3 218.5 221.1 223.5 231.3 233.7 31

 32 FL633093005 Money market funds 17.0 10.0 3.6 3.2 3.8 3.3 4.3 3.2 2.6 32

 33 FL653093005 Mutual funds 268.3 217.1 227.0 293.1 271.3 266.9 281.4 293.1 443.8 33

 34 LM563093003 Exchange-traded funds 57.0 49.3 62.8 68.9 66.1 66.3 69.0 68.9 71.7 34

 35 FL403093005 Government-sponsored enterprises 154.7 148.2 150.7 111.0 124.4 132.2 134.6 111.0 104.6 35

 36 FL613093005 Finance companies 56.0 57.9 45.3 30.3 38.3 34.1 28.1 30.3 26.9 36

 37 FL643093005 REITs 126.5 136.7 168.1 179.2 165.2 166.5 176.1 179.2 190.7 37

 38 FL663093005 Brokers and dealers 80.0 79.7 87.7 91.2 76.6 83.0 83.2 91.2 89.1 38

 39 FL733093005 Holding companies 787.6 450.1 605.7 863.2 710.8 864.2 845.7 863.2 880.1 39

 40 FL903090005 Discrepancy -8556.2 -9562.5 -10615.6 -10830.9 -10585.1 -10671.9 -10729.8 -10830.9 -11218.1 40
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138 Z.1, June 7, 2018

B.101 Balance Sheet of Households and Nonprofit Organizations (1)

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL152000005 Assets 97844.2 101061.7 106934.3 115270.7 109173.9 110684.5 112611.8 115270.7 116342.5 1

 2 LM152010005 Nonfinancial assets 28540.8 30279.8 32041.9 34036.1 32483.0 32998.3 33425.7 34036.1 34597.4 2

 3 LM155035005 Real estate 23035.7 24575.9 26172.2 27884.8 26506.5 26979.5 27347.2 27884.8 28374.4 3

 4 LM155035015 Households (2,3) 20325.2 21607.3 23003.0 24517.8 23387.0 23751.0 24060.8 24517.8 25061.4 4

 5 LM165035005 Nonprofit organizations 2710.5 2968.7 3169.2 3367.0 3119.6 3228.5 3286.4 3367.0 3313.1 5

 6 LM165015205 Equipment (nonprofits) (4) 317.9 328.1 337.5 348.5 340.1 343.0 345.6 348.5 351.5 6

 7 LM165013765 Intellectual property products (nonprofits) (4) 132.5 139.3 144.1 152.0 146.4 148.6 150.4 152.0 154.0 7

 8 LM155111005 Consumer durable goods (4) 5054.6 5236.5 5388.1 5650.8 5489.9 5527.2 5582.6 5650.8 5717.5 8

 9 FL154090005 Financial assets 69303.4 70782.0 74892.4 81234.6 76690.9 77686.2 79186.1 81234.6 81745.2 9

 10 LM153091003 Foreign deposits 45.6 31.2 25.6 36.5 28.7 30.8 35.2 36.5 38.0 10

 11 FL153020005 Checkable deposits and currency 1153.2 1181.6 1108.8 1151.5 1196.4 1165.9 1076.5 1151.5 1188.3 11

 12 FL153030005 Time and savings deposits 7902.0 8389.0 9085.7 9283.5 9203.0 9130.6 9268.1 9283.5 9492.5 12

 13 FL153034005 Money market fund shares 1032.6 1044.0 1023.1 1053.4 1009.8 982.3 1024.9 1053.4 938.4 13

 14 FL154022005 Debt securities 4055.8 4636.9 4591.9 4320.3 4477.9 4307.2 4255.3 4320.3 4849.0 14

 15 FL153061105 Treasury securities 798.4 1179.2 1400.2 1366.6 1343.3 1421.1 1304.0 1366.6 1625.2 15

 16 FL153061705 Agency- and GSE-backed securities 261.8 500.4 446.5 492.0 470.5 373.8 457.6 492.0 513.9 16

 17 FL153062005 Municipal securities 1709.1 1655.4 1711.6 1641.4 1684.7 1668.4 1631.6 1641.4 1640.3 17

 18 FL153063005 Corporate and foreign bonds 1286.5 1301.8 1033.6 820.4 979.3 843.9 862.0 820.4 1069.6 18

 19 FL154023005 Loans 1063.3 1002.7 998.3 966.5 1012.4 1010.8 985.9 966.5 943.2 19

 20 FL153069005 Other loans and advances (5) 893.2 842.6 841.6 817.5 857.9 856.7 835.1 817.5 796.7 20

 21 FL153065005 Mortgages 122.5 115.1 114.9 112.4 114.1 115.2 113.2 112.4 111.6 21

 22 FL163066223 Consumer credit (student loans) (6) 47.6 44.9 41.9 36.6 40.3 38.9 37.6 36.6 34.9 22

 23 LM153064105 Corporate equities (2) 14315.3 13837.2 15221.4 17949.5 15984.1 16482.4 17043.2 17949.5 17626.5 23

 24 LM153064205 Mutual fund shares 6828.7 6758.5 7240.3 8628.6 7665.3 7917.0 8300.9 8628.6 8676.8 24

 25 FL163070005 Trade receivables (6) 240.7 257.9 276.5 296.2 281.4 286.3 291.2 296.2 300.9 25

 26 FL153040005 Life insurance reserves 1282.8 1309.1 1340.0 1387.3 1355.3 1360.9 1373.8 1387.3 1390.8 26

 27 FL153050005 Pension entitlements (7) 20623.3 20911.0 21836.5 23292.6 22261.4 22549.0 22880.4 23292.6 23315.7 27

 28 LM152090205 Equity in noncorporate business (8) 9842.5 10471.1 11139.4 11821.6 11209.4 11451.1 11611.1 11821.6 11925.2 28

 29 FL153090005 Miscellaneous assets 917.6 951.7 1004.9 1047.2 1005.8 1011.9 1039.6 1047.2 1059.8 29

 30 FL154190005 Liabilities 14327.3 14526.2 14978.9 15530.7 15036.0 15202.2 15345.6 15530.7 15574.2 30

 31 FL163162003 Debt securities (municipal securities) (6) 226.9 218.8 215.4 216.9 215.2 218.4 215.3 216.9 218.8 31

 32 FL154123005 Loans 13748.5 13941.1 14383.2 14915.8 14435.1 14593.8 14736.3 14915.8 14951.4 32

 33 FL153165105 Home mortgages (9) 9455.8 9573.4 9777.9 10076.2 9833.1 9911.6 9999.6 10076.2 10110.5 33

 34 FL153166000 Consumer credit 3314.6 3413.6 3644.2 3832.7 3640.1 3695.4 3754.0 3832.7 3822.4 34

 35 FL153168005 Depository institution loans n.e.c. 235.8 280.6 290.2 293.1 285.5 292.5 289.3 293.1 297.1 35

 36 FL153169005 Other loans and advances 514.0 437.4 427.2 462.6 430.9 446.9 444.1 462.6 468.3 36

 37 FL163165505 Commercial mortgages (6) 228.3 236.1 243.7 251.2 245.6 247.5 249.3 251.2 253.1 37

 38 FL163170005 Trade payables (6) 322.1 334.7 349.0 364.8 352.9 356.9 360.8 364.8 368.5 38

 39 FL543077073 Deferred and unpaid life insurance premiums 29.9 31.6 31.3 33.1 32.7 33.1 33.2 33.1 35.5 39

 40 FL152090005 Net worth 83516.9 86535.5 91955.4 99740.0 94138.0 95482.3 97266.2 99740.0 100768.3 40

 Memo:

 41 FL893131573 Assets held in IRAs (10) 7292.0 7477.0 8080.0 9200.0 8400.0 8600.0 8850.0 9200.0 ND 41

 42 FL154023205 Assets held in 529 college plans (10) 247.9 253.5 275.1 319.0 289.2 300.3 306.5 319.0 321.0 42

 43 LM154023223 College savings plans 224.3 230.5 251.9 294.4 265.6 276.2 282.2 294.4 296.8 43

 44 FL154023213 Prepaid tuition plans 23.6 23.0 23.2 24.6 23.6 24.1 24.3 24.6 24.2 44

 Replacement-cost value of structures:

 45 LM155012605 Residential 15136.6 15475.9 16569.1 17277.0 16700.3 16950.7 17109.1 17277.0 17710.8 45

 46 LM155012665 Households 14896.5 15224.3 16302.4 16997.6 16431.5 16677.9 16832.4 16997.6 17424.5 46

 47 LM165012665 Nonprofit organizations 240.1 251.6 266.7 279.4 268.8 272.8 276.7 279.4 286.4 47

 48 LM165013665 Nonresidential (nonprofits) 1626.7 1663.2 1706.9 1780.1 1723.9 1744.3 1767.6 1780.1 1800.0 48

 49 FA156012005 Disposable personal income (DPI) (SAAR) 13032.6 13615.0 13968.6 14380.4 14226.4 14331.6 14410.8 14552.9 14763.3 49

 50 FL152090006 Net worth/DPI (percent) (line 40/line 49) 640.83 635.59 658.30 693.58 661.71 666.24 674.95 685.36 682.56 50

 51 FL155035065 Owners’ equity in real estate (line 4 less line 33) 10869.3 12033.9 13225.1 14441.5 13553.9 13839.4 14061.2 14441.5 14950.9 51

 52 FL155035066 Owners’ equity/real estate (percent) (line 51/line 4) 53.48 55.69 57.49 58.90 57.95 58.27 58.44 58.90 59.66 52

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

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

(6) Student loans and trade receivables are financial assets of nonprofit organizations; municipal securities, commercial mortgages, and trade payables are liabilities.

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

(8) Net worth of nonfinancial noncorporate business (table B.104, line 35) and owners’ equity in unincorporated security brokers and dealers.

(9) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(10) 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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 With nonfinancial assets stated at either market value or replacement cost:

 1 FL102000005 Assets 36383.8 39062.7 41618.2 44027.7 41738.4 42599.5 43242.5 44027.7 44111.5 1

 2 LM102010005 Nonfinancial assets 19113.9 20314.4 21293.1 22413.6 21184.2 21697.3 21990.8 22413.6 22279.4 2

 3 LM105035005 Real estate (1) 10511.7 11524.4 12265.5 13027.5 12049.0 12490.2 12706.8 13027.5 12775.6 3

 4 LM105015205 Equipment (2) 4370.3 4480.1 4587.3 4734.3 4622.2 4660.5 4695.2 4734.3 4774.9 4

 5 LM105013765 Intellectual property products (2) 2004.8 2088.5 2150.7 2264.6 2183.0 2215.1 2242.7 2264.6 2295.0 5

 6 LM105020015 Inventories (2) 2227.0 2221.4 2289.6 2387.3 2330.0 2331.4 2346.0 2387.3 2433.8 6

 7 FL104090005 Financial assets 17269.9 18748.3 20325.1 21614.1 20554.1 20902.2 21251.7 21614.1 21832.1 7

 8 FL103091003 Foreign deposits 107.2 87.1 90.7 197.0 84.6 103.2 194.8 197.0 199.8 8

 9 FL103020005 Checkable deposits and currency 770.8 838.1 998.6 1142.7 1042.9 1114.7 1118.5 1142.7 1193.1 9

 10 FL103030003 Time and savings deposits 152.0 144.3 163.5 167.8 162.3 165.6 166.1 167.8 168.2 10

 11 FL103034003 Money market fund shares 558.2 576.8 463.9 457.5 439.6 431.7 446.0 457.5 466.9 11

 12 FL102051003 Security repurchase agreements 65.9 79.9 109.5 83.9 99.5 89.4 76.0 83.9 78.6 12

 13 FL104022005 Debt securities 248.7 244.7 235.5 269.4 245.2 259.6 259.5 269.4 278.7 13

 14 FL103069100 Commercial paper 171.9 172.5 160.7 185.2 166.1 178.5 176.4 185.2 195.5 14

 15 FL103061103 Treasury securities 41.7 37.4 41.3 41.0 40.0 40.7 40.3 41.0 41.2 15

 16 FL103061703 Agency- and GSE-backed securities 13.9 12.5 13.8 13.7 13.3 13.6 13.4 13.7 13.7 16

 17 FL103062003 Municipal securities 21.2 22.3 19.7 29.5 25.7 26.8 29.3 29.5 28.3 17

 18 FL104023005 Loans 70.0 72.4 73.0 70.3 71.4 71.2 71.0 70.3 68.7 18

 19 FL103065003 Mortgages 29.0 31.4 30.3 28.4 29.8 29.3 28.9 28.4 28.0 19

 20 FL103066005 Consumer credit 40.9 41.1 42.8 41.8 41.6 41.9 42.1 41.8 40.7 20

 21 LM103064203 Mutual fund shares (1) 234.6 235.7 236.9 276.5 249.1 257.0 267.0 276.5 276.1 21

 22 FL103070005 Trade receivables 2662.3 2694.4 2913.2 3134.0 2992.6 3081.5 3141.8 3134.0 3246.7 22

 23 LM103092005 U.S. direct investment abroad (3) 4720.8 4930.7 5208.5 5562.7 5330.1 5410.8 5516.7 5562.7 5456.6 23

 24 FL103090005 Miscellaneous assets 7679.3 8844.0 9831.8 10252.3 9836.9 9917.4 9994.3 10252.3 10398.5 24

 25 FL104190005 Liabilities 16572.1 17889.5 19128.3 20179.2 19280.4 19504.2 19722.1 20179.2 20404.6 25

 26 FL104122005 Debt securities 5123.7 5533.5 5828.7 6131.8 5953.3 6015.5 6105.4 6131.8 6213.1 26

 27 FL103169100 Commercial paper 182.0 179.0 180.8 206.7 195.5 194.7 206.1 206.7 222.3 27

 28 FL103162000 Municipal securities (4) 526.0 539.3 554.5 567.6 554.8 562.6 556.7 567.6 564.9 28

 29 FL103163003 Corporate bonds (3) 4415.7 4815.3 5093.4 5357.6 5203.0 5258.2 5342.6 5357.6 5425.9 29

 30 FL104123005 Loans 2376.7 2459.2 2561.7 2836.2 2659.2 2734.5 2777.6 2836.2 2851.0 30

 31 FL103168005 Depository institution loans n.e.c. 856.0 935.8 985.8 1020.3 991.6 1001.4 1004.5 1020.3 1028.6 31

 32 FL103169005 Other loans and advances 1126.2 1090.3 1102.4 1293.9 1193.4 1246.8 1278.4 1293.9 1294.1 32

 33 FL103165005 Mortgages 394.5 433.2 473.5 522.0 474.3 486.3 494.7 522.0 528.4 33

 34 FL103170005 Trade payables 2088.4 2110.8 2305.4 2515.8 2338.7 2390.3 2449.8 2515.8 2581.1 34

 35 FL103178005 Taxes payable 43.5 42.2 33.5 246.4 43.2 41.5 39.7 246.4 250.5 35

 36 LM103192005 Foreign direct investment in U.S. 2933.6 3302.8 3668.3 3899.0 3679.9 3784.3 3841.7 3899.0 3948.5 36

 37 FL103190005 Miscellaneous liabilities 4006.2 4440.9 4730.7 4550.0 4606.1 4538.1 4507.9 4550.0 4560.5 37

 38 FL102090005 Net worth (market value) 19811.7 21173.1 22489.9 23848.5 22457.9 23095.2 23520.4 23848.5 23706.9 38

 Memo:

 Replacement-cost value of structures:

 39 LM105012665 Residential 192.6 205.0 215.5 226.0 217.3 220.6 223.8 226.0 231.8 39

 40 LM105013665 Nonresidential 8400.2 8482.6 8639.2 8987.7 8724.8 8828.5 8924.0 8987.7 9089.4 40

 41 LM103164103 Market value of equities outstanding 22630.0 21521.1 23064.6 26873.4 24265.3 24683.5 25559.5 26873.4 26495.0 41

 42 FL104104006 Debt/net worth (percent) (lines 26+30/line 38) 37.86 37.75 37.31 37.60 38.35 37.89 37.77 37.60 38.23 42

 43 FL104104016 Debt/equities (percent) (lines 26+30/line 41) 33.14 37.14 36.38 33.37 35.49 35.45 34.75 33.37 34.21 43

 44 FL103164106 Equities/net worth (percent) (line 41/line 38) 114.23 101.64 102.56 112.68 108.05 106.88 108.67 112.68 111.76 44

 With nonfinancial assets stated at historical cost:

 45 FL102000115 Assets (sum of lines 7 and 46) 30342.1 32370.3 34404.9 36251.5 34816.7 35273.9 35795.1 36251.5 36671.9 45

 46 FL102010115 Nonfinancial assets 13072.2 13622.0 14079.8 14637.3 14262.5 14371.8 14543.4 14637.3 14839.8 46

 47 FL105035045 Real estate 5186.1 5422.6 5630.7 5845.2 5695.0 5742.4 5796.4 5845.2 5911.3 47

 48 FL105013213 Equipment 4063.9 4234.9 4365.0 4506.1 4395.8 4429.0 4465.6 4506.1 4547.5 48

 49 FL105013715 Intellectual property products 1871.5 1956.8 2049.8 2144.1 2072.9 2096.4 2120.6 2144.1 2170.3 49

 50 FL105020000 Inventories 1950.7 2007.8 2034.4 2142.0 2098.9 2103.9 2160.8 2142.0 2210.8 50

 51 FL102090115 Net worth (historical cost) (line 45 less line 25) 13770.0 14480.8 15276.6 16072.2 15536.2 15769.7 16073.0 16072.2 16267.3 51

 Memo:

 Historical-cost value of structures:

 52 FL105012613 Residential 90.5 94.8 99.8 105.1 101.1 102.4 103.7 105.1 106.5 52

 53 FL105013613 Nonresidential 4560.4 4776.8 4955.3 5148.8 5002.5 5051.5 5099.4 5148.8 5201.7 53

 54 FL104104026 Debt/net worth (percent) (lines 26+30/line 38) 54.47 55.20 54.92 55.80 55.44 55.49 55.27 55.80 55.72 54

(1) At market value.

(2) At replacement (current) cost.

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

(4) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.
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B.104 Balance Sheet of Nonfinancial Noncorporate Business

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL112000005 Assets 16248.0 17264.8 18281.8 19279.0 18408.0 18736.3 18960.9 19279.0 19465.1 1

 2 LM112010005 Nonfinancial assets 11274.6 11964.1 12651.9 13385.7 12730.4 12987.1 13154.0 13385.7 13501.4 2

 3 LM115035005 Real estate (1) 9917.4 10607.7 11274.3 11973.0 11337.3 11583.3 11750.9 11973.0 12069.9 3

 4 LM115035023 Residential 5608.2 6041.6 6485.5 6938.8 6597.0 6712.3 6814.7 6938.8 7097.4 4

 5 LM115035035 Nonresidential 4309.2 4566.1 4788.8 5034.1 4740.3 4871.0 4936.1 5034.1 4972.4 5

 6 LM115015205 Equipment (2) 838.1 860.5 882.1 896.5 885.6 889.4 892.5 896.5 900.6 6

 7 LM115012265 Residential (3) 42.8 43.1 43.2 44.0 43.5 43.6 43.7 44.0 44.5 7

 8 LM115013265 Nonresidential 795.4 817.4 838.9 852.4 842.1 845.8 848.7 852.4 856.1 8

 9 LM115013765 Intellectual property products (2) 222.8 232.3 239.8 258.5 245.0 250.3 254.8 258.5 263.1 9

 10 LM115020005 Inventories (2) 296.3 263.6 255.8 257.8 262.5 264.1 255.9 257.8 267.8 10

 11 FL114090005 Financial assets 4973.4 5300.7 5629.9 5893.3 5677.6 5749.2 5806.9 5893.3 5963.7 11

 12 FL113020005 Checkable deposits and currency 246.8 288.0 312.8 312.9 310.5 311.0 309.0 312.9 317.2 12

 13 FL113030003 Time and savings deposits 849.5 877.7 925.9 989.6 940.4 956.6 971.4 989.6 1004.4 13

 14 FL113034003 Money market fund shares 85.6 91.7 97.5 102.9 98.5 99.8 100.8 102.9 104.2 14

 15 FL114022005 Debt securities 61.2 65.5 69.7 73.6 70.4 71.3 72.0 73.6 74.5 15

 16 FL113061003 Treasury securities 57.2 61.2 65.1 68.7 65.8 66.6 67.3 68.7 69.6 16

 17 FL113062003 Municipal securities 4.0 4.3 4.6 4.8 4.6 4.7 4.7 4.8 4.9 17

 18 FL114023005 Loans 34.5 36.9 39.3 41.4 39.6 40.2 40.6 41.4 41.9 18

 19 FL113065005 Mortgages 34.5 36.9 39.3 41.4 39.6 40.2 40.6 41.4 41.9 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 668.9 716.1 761.7 803.6 769.1 779.3 787.2 803.6 813.7 21

 22 FL113090005 Miscellaneous assets 3026.8 3224.8 3423.0 3569.3 3449.0 3491.0 3526.0 3569.3 3607.9 22

 23 FL113076005 Insurance receivables 128.9 118.8 115.7 119.1 114.9 116.6 120.6 119.1 119.1 23

 24 FL113092405 Equity investment in GSEs (4) 8.5 9.0 9.7 12.3 9.9 10.1 12.2 12.3 12.0 24

 25 FL113093005 Other 2889.4 3097.0 3297.5 3438.0 3324.2 3364.3 3393.2 3438.0 3476.8 25

 26 FL114190005 Liabilities 6446.1 6839.0 7203.4 7520.7 7261.1 7347.0 7412.8 7520.7 7601.0 26

 27 FL114123005 Loans 4443.3 4749.4 5047.1 5303.1 5090.7 5158.3 5209.1 5303.1 5363.1 27

 28 FL113168005 Depository institution loans n.e.c. 1077.0 1175.0 1247.5 1289.2 1252.3 1265.9 1270.2 1289.2 1296.9 28

 29 FL113169005 Other loans and advances 196.0 199.7 202.3 205.7 202.1 201.6 201.0 205.7 206.7 29

 30 FL113165005 Mortgages 3170.3 3374.7 3597.3 3808.3 3636.3 3690.9 3737.9 3808.3 3859.5 30

 31 FL113170005 Trade payables 536.7 589.1 634.0 671.9 643.4 655.7 665.6 671.9 683.1 31

 32 FL113178003 Taxes payable 117.4 120.8 124.2 127.2 124.7 125.5 126.0 127.2 128.0 32

 33 LM115114005 Foreign direct investment in U.S. 9.2 11.9 12.8 15.8 12.9 13.7 14.0 15.8 15.9 33

 34 FL113193003 Miscellaneous liabilities 1339.4 1367.9 1385.3 1402.6 1389.5 1393.8 1398.1 1402.6 1410.9 34

 35 LM112090205 Net worth (5) 9801.9 10425.8 11078.4 11758.3 11146.8 11389.3 11548.1 11758.3 11864.1 35

 Memo:

 Replacement-cost value of structures:

 36 FL115012665 Residential 3229.7 3362.7 3528.6 3676.5 3550.8 3598.8 3645.7 3676.5 3764.4 36

 37 FL115013665 Nonresidential 1946.9 1988.0 2052.7 2226.9 2097.3 2146.8 2186.4 2226.9 2277.1 37

 38 FL114104006 Debt/net worth (percent) (line 27/line 35) 45.33 45.55 45.56 45.10 45.67 45.29 45.11 45.10 45.20 38

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Included in table B.101, line 28.
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Z.1, June 7, 2018 141

R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FC152090005 Change in net worth (1) 4964.6 3018.6 5419.9 7784.6 2182.5 1344.4 1783.8 2473.8 1028.3 1

 2 FU155060005 Net investment 1270.2 1241.2 1146.9 1064.8 481.8 59.7 175.8 347.4 569.9 2

 3 FU155061005 Net physical investment 361.9 446.1 485.8 541.2 135.8 130.4 131.3 143.8 136.2 3

 4 FU155050005 Capital expenditures 1823.4 1953.2 2052.0 2138.5 527.0 528.5 533.2 549.8 548.1 4

 5 FU156300005 - Consumption of fixed capital 1461.5 1507.0 1566.2 1597.2 391.1 398.1 402.0 406.0 411.9 5

 6 FU155000005 Net lending (+) or net borrowing (-) 908.3 795.1 661.1 523.5 345.9 -70.6 44.6 203.7 433.7 6

 7 FU154090005 Net acquisition of financial assets 1236.5 1130.4 1144.1 1101.3 409.8 103.2 194.2 394.2 480.8 7

 8 FU154190005 - Net increase in liabilities 328.3 335.3 483.0 577.8 63.9 173.8 149.6 190.5 47.1 8

 Holding gains on assets

 9 FR158000005 at market value (2) 3976.7 1270.2 4251.4 6947.4 1709.8 1453.1 1713.1 2071.3 96.6 9

 10 FR155035005 Real estate 1174.9 1358.4 1382.7 1572.4 276.9 417.0 399.9 478.6 432.4 10

 11 FR153064105 Corporate equities 1532.7 -335.8 1493.5 2644.6 733.2 413.9 630.6 866.9 -289.8 11

 12 FR153064205 Mutual fund shares 237.8 -194.5 341.2 1038.9 330.5 201.9 264.1 242.4 -59.5 12

 13 FR152090205 Equity in noncorporate business 644.3 599.7 617.5 646.8 54.3 229.6 162.1 200.9 81.8 13

 14 FR153040005 Life insurance reserves 14.6 -8.5 15.5 39.6 12.2 7.6 9.7 10.1 -2.5 14

 15 FR153050005 Pension entitlements 372.4 -149.0 401.1 1005.1 302.8 183.3 246.6 272.4 -65.9 15

 16 FR153094305 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Holding gains on assets

 17 FR158100005 at current cost (2) -102.5 -63.2 -102.8 -32.2 30.2 -32.1 -18.1 -12.1 -6.0 17

 18 FR155111005 Consumer durable goods -102.2 -64.6 -102.3 -47.0 26.3 -36.4 -21.5 -15.3 -9.8 18

 19 FR165015205 Equipment -1.5 0.6 0.3 8.5 2.1 2.5 1.9 2.0 2.2 19

 20 FR165013765 Intellectual property products 1.2 0.8 -0.9 6.3 1.8 1.8 1.4 1.3 1.6 20

 21 FV158090005 Other volume changes (3) -179.8 570.5 124.4 -195.4 -39.2 -136.4 -87.0 67.2 367.9 21

 Memo:

 22 FL152090005 Net worth outstanding (4) 83516.9 86535.5 91955.4 99740.0 94138.0 95482.3 97266.2 99740.0 100768.3 22

 23 FA156012005 Disposable personal income 13032.6 13615.0 13968.6 14380.4 14226.4 14331.6 14410.8 14552.9 14763.3 23

(1) Sum of net investment (line 2), holding gains (lines 9 and 17), and other volume changes (line 21).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.101, line 40.
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142 Z.1, June 7, 2018

R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FC102090005 Change in net worth (1) 1066.1 1361.4 1316.7 1358.6 -31.9 637.3 425.2 328.1 -141.6 1

 2 FU105060005 Net investment -442.4 -63.1 -170.2 -123.5 -37.0 81.4 1.9 -169.9 -15.3 2

 3 FU105061005 Net physical investment 411.6 411.7 307.3 371.7 90.8 84.8 94.6 101.6 115.1 3

 4 FU105050005 Capital expenditures 1699.9 1800.3 1673.8 1742.9 421.5 429.7 446.2 445.6 459.3 4

 5 FU106300005 - Consumption of fixed capital 1284.2 1336.3 1363.8 1420.3 349.4 353.3 357.3 360.4 364.6 5

 6 FU105020601 - Inventory valuation adjustment 4.1 52.4 2.7 -49.1 -18.7 -8.4 -5.6 -16.4 -20.3 6

 7 FU105000005 Net lending (+) or net borrowing (-) -459.5 74.9 99.3 -116.5 -27.0 63.6 42.1 -195.1 -33.8 7

 8 FU104090005 Net acquisition of financial assets 922.7 1488.7 1485.4 1096.3 174.4 323.2 304.5 294.3 232.0 8

 9 FU104190005 - Net increase in liabilities 1382.2 1413.8 1386.1 1212.8 201.4 259.6 262.4 489.4 265.9 9

 10 FU103164103 Net corporate equity issues -394.5 -549.6 -576.8 -378.8 -100.8 -66.9 -134.8 -76.3 -96.5 10

 Holding gains on assets

 11 FR108000005 at market value (2) 877.7 893.3 663.7 714.4 -243.3 428.8 219.8 309.1 -291.8 11

 12 FR105035005 Real estate 869.1 899.5 651.6 680.1 -254.1 422.2 211.1 300.9 -290.0 12

 13 FR103064203 Mutual fund shares 8.7 -6.2 12.2 34.3 10.8 6.6 8.6 8.2 -1.8 13

 Holding gains on assets less

 14 FR108100005 liabilities at current cost (2) -76.8 -51.4 65.8 124.2 114.9 -22.3 47.3 -15.7 33.1 14

 15 FR105015205 Equipment -57.6 -38.9 -5.0 22.8 8.4 9.2 2.3 2.9 3.6 15

 16 FR105013765 Intellectual property products 21.0 20.7 -14.7 33.2 12.5 12.0 6.8 1.8 7.7 16

 17 FR105020015 Inventories (3) -3.4 -49.7 40.3 36.4 22.0 -8.0 0.4 22.0 21.8 17

 18 FR103092005 Direct investment abroad -41.6 -50.4 24.0 20.7 19.9 -0.4 36.8 -35.7 0.0 18

 19 FR103192005 - Foreign direct investment in U.S. -4.9 -67.0 -21.3 -11.0 -52.1 35.2 -0.9 6.7 0.0 19

 20 FV108090005 Other volume changes (4) 707.5 582.6 757.3 643.6 133.5 149.3 156.2 204.6 132.3 20

 Memo:

 21 FL102090005 Net worth outstanding (5) 19811.7 21173.1 22489.9 23848.5 22457.9 23095.2 23520.4 23848.5 23706.9 21

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 38.
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R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FC112090205 Change in net worth (1) 786.6 623.9 652.7 679.9 68.4 242.4 158.8 210.2 105.8 1

 2 FU115440005 Net capital transfers paid 0.0 0.0 0.0 -13.1 0.0 0.0 -13.1 0.0 0.0 2

 3 FU115060005 Net investment 141.0 18.8 40.2 61.8 15.7 13.6 21.5 11.0 23.3 3

 4 FU115061005 Net physical investment 78.0 88.1 78.2 115.4 26.1 28.2 29.9 31.2 33.4 4

 5 FU115050005 Capital expenditures 377.0 399.1 398.9 451.1 108.5 111.7 114.4 116.5 119.9 5

 6 FU116300005 - Consumption of fixed capital 299.0 311.0 320.7 335.7 82.4 83.4 84.5 85.3 86.5 6

 7 FU115000005 Net lending (+) or net borrowing (-) -78.0 -88.1 -78.2 -102.3 -26.1 -28.2 -16.8 -31.2 -33.4 7

 8 FU114090005 Net acquisition of financial assets 442.6 327.3 329.2 263.4 47.7 71.6 57.7 86.3 70.5 8

 9 FU114190005 - Net increase in liabilities 520.6 415.5 407.3 365.7 73.8 99.9 74.6 117.5 103.8 9

 10 FU112090205 Proprietor’s net investment (2) 141.0 18.8 40.2 48.7 15.7 13.6 8.4 11.0 23.3 10

 11 FR115035005 Holding gains on real estate (3) 648.2 649.7 618.9 639.9 46.5 228.7 160.8 203.9 77.2 11

 12 FR115035023 Residential 353.9 418.5 423.4 425.6 104.7 108.7 95.8 116.5 150.5 12

 13 FR115035035 Nonresidential 294.3 231.3 195.5 214.3 -58.2 120.0 65.0 87.4 -73.3 13

 14 FR118100005 Holding gains on assets at current cost (3) -5.1 -49.0 -7.9 -13.0 5.9 -0.2 -13.8 -4.9 5.1 14

 15 FR115012265 Residential equipment -2.3 -1.5 -2.0 -1.2 -0.3 -0.4 -0.3 -0.2 0.1 15

 16 FR115013265 Nonresidential equipment -6.2 -1.0 6.1 -11.6 -1.8 -2.4 -3.7 -3.7 -4.0 16

 17 FR115013765 Intellectual property products 2.0 2.4 -1.0 2.8 1.6 1.1 0.4 -0.3 0.3 17

 18 FR115020005 Inventories 1.6 -48.2 -12.3 -1.5 6.4 1.4 -10.1 0.9 8.7 18

 19 FR115114005 - Foreign direct investment in U.S. 0.3 0.7 -1.3 1.6 0.0 0.0 0.0 1.6 0.0 19

 20 FV118090005 Other volume changes (4) 2.6 4.5 1.5 4.3 0.3 0.4 3.3 0.3 0.2 20

 Memo:

 21 LM112090205 Net worth outstanding (5) 9801.9 10425.8 11078.4 11758.3 11146.8 11389.3 11548.1 11758.3 11864.1 21

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Shown on table F.104, line 32.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.104, line 35.
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144 Z.1, June 7, 2018

B.101.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail

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

2014 2015 2016 2017 2017 2018

 Q1 Q2 Q3 Q4 Q1

 1 FL152000005 Assets 97844.2 101061.7 106934.3 115270.7 109173.9 110684.5 112611.8 115270.7 116342.5 1

 2 FL152010005 Nonfinancial assets 28540.8 30279.8 32041.9 34036.1 32483.0 32998.3 33425.7 34036.1 34597.4 2

 3 FL154090005 Financial assets 69303.4 70782.0 74892.4 81234.6 76690.9 77686.2 79186.1 81234.6 81745.2 3

 4 FL154000025 Deposits (1) 10133.4 10645.9 11243.2 11524.9 11437.9 11309.6 11404.7 11524.9 11657.3 4

 5 FL154022005 Debt securities 4055.8 4636.9 4591.9 4320.3 4477.9 4307.2 4255.3 4320.3 4849.0 5

 6 FL154023005 Loans 1063.3 1002.7 998.3 966.5 1012.4 1010.8 985.9 966.5 943.2 6

 7 LM153064475 Equity shares at market value 23934.7 23331.7 25251.5 29838.6 26583.8 27392.0 28419.0 29838.6 29402.4 7

 8 LM153064105 Directly held 14315.3 13837.2 15221.4 17949.5 15984.1 16482.4 17043.2 17949.5 17626.5 8

 9 LM153064175 Indirectly held 9619.4 9494.5 10030.0 11889.1 10599.7 10909.6 11375.9 11889.1 11775.9 9

 10 LM543064153 Life insurance companies 1356.0 1326.1 1389.3 1543.0 1438.6 1460.3 1501.1 1543.0 1515.2 10

 11 LM573064175 Private pension funds (2) 3262.7 3225.0 3376.8 3975.5 3553.2 3687.4 3809.7 3975.5 3940.5 11

 12 LM343064125 Federal govt. retirement funds (2) 224.4 226.6 246.9 308.6 263.0 273.8 285.1 308.6 306.7 12

 13 LM223064213 State and local govt. retirement funds (2) 207.1 197.0 193.9 190.1 206.0 178.1 181.1 190.1 187.7 13

 14 LM653064155 Mutual funds 4569.2 4519.9 4823.1 5872.0 5138.8 5310.0 5598.9 5872.0 5825.7 14

 15 FL153099475 Other 30116.1 31164.8 32807.5 34584.3 33179.0 33666.6 34121.2 34584.3 34893.3 15

 16 FL154190005 Liabilities 14327.3 14526.2 14978.9 15530.7 15036.0 15202.2 15345.6 15530.7 15574.2 16

 17 FL152090005 Net worth 83516.9 86535.5 91955.4 99740.0 94138.0 95482.3 97266.2 99740.0 100768.3 17

 Memo:

 Equity shares (line 7) as a percent of

 18 FL153064476 Total assets (line 1) 24.46 23.09 23.61 25.89 24.35 24.75 25.24 25.89 25.27 18

 19 FL153064486 Financial assets (line 3) 34.54 32.96 33.72 36.73 34.66 35.26 35.89 36.73 35.97 19

(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 15.
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F.101.a Nonprofit Organizations (1)

Billions of dollars

2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 1 FA165000005 Net lending (+) or net borrowing (-) 266.7 13.1 -411.9 130.2 275.3 -19.9 196.2 285.2 115.8 1

 2 FA164090005 Net acquisition of financial assets 384.3 102.2 -337.6 219.3 289.9 64.8 266.0 305.4 229.6 2

 3 FA163020005 Cash and non-interest-bearing deposits 7.6 5.8 -2.4 9.5 10.1 7.4 6.2 10.8 13.1 3

 4 FA163030205 Other deposits and short-term investments (2) 31.0 21.2 16.6 -0.8 -1.8 -4.6 15.1 6.2 10.8 4

 5 FA164022005 Debt securities 17.2 -0.6 0.8 30.6 -15.6 3.7 -7.9 -10.5 28.6 5

 6 FA163061005 U.S. government and municipal securities 12.9 -8.7 -1.3 7.6 -19.4 -1.5 -8.7 -5.5 24.6 6

 7 FA163063005 Corporate and foreign bonds 4.3 8.1 2.1 22.9 3.8 5.2 0.8 -5.0 4.0 7

 8 FA164023005 Loans 25.6 17.1 4.9 -10.1 -13.5 -14.7 -9.3 2.7 -5.9 8

 9 FA163065013 Mortgages -0.1 -0.0 -0.1 -0.1 0.0 0.0 0.2 -0.3 0.3 9

10 FA163066223 Consumer credit 6.0 7.7 6.4 -6.4 -11.2 -4.3 -9.0 -6.2 -4.2 10

11 FA164041005 Other notes and loans receivable 19.7 9.4 -1.3 -3.5 -2.3 -10.5 -0.4 9.2 -2.0 11

12 FA163064005 Corporate equities and mutual fund shares 169.0 12.6 -249.1 71.3 128.0 15.6 127.6 156.8 77.6 12

13 FA163070005 Grants and trade receivables 8.1 10.0 7.5 -0.8 6.3 14.4 9.0 5.6 27.5 13

14 FA163093005 Miscellaneous assets (3) 125.7 36.1 -116.0 119.6 176.4 43.0 125.3 133.8 77.8 14

15 FA164190005 Net increase in liabilities 117.5 89.1 74.3 89.1 14.6 84.6 69.7 20.2 113.8 15

16 FA163162003 Debt securities (municipal securities) 16.2 22.5 9.5 7.0 -1.6 -7.6 -14.2 -14.4 -6.9 16

17 FA164123005 Loans 22.0 16.2 -2.1 1.0 0.1 7.1 15.2 6.9 15.4 17

18 FA163168005 Depository institution loans n.e.c. 4.4 3.2 -10.8 10.8 -0.9 1.4 6.5 -2.0 8.8 18

19 FA163169385 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA163165505 Commercial mortgages 17.6 13.0 8.7 -9.8 1.1 5.7 8.7 8.9 6.7 20

21 FA163170005 Trade payables 16.5 17.8 24.2 41.8 -29.2 20.0 7.2 -5.6 26.7 21

22 FA163193005 Miscellaneous liabilities (4) 62.9 32.5 42.7 39.3 45.3 65.1 61.6 33.3 78.6 22

 Memo:

23 FA164090015 Net acquisition of fin. assets of private foundations 88.1 14.1 -54.0 19.0 31.9 9.6 35.5 59.1 46.9 23

24 FA164090025 Net acquisition of fin. assets of 501(c) organizations 296.2 88.0 -283.6 200.3 258.0 55.1 230.5 246.3 182.6 24

(1) Includes private foundations 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.

(2) Includes interest-bearing checking and savings accounts, deposits in transit, money market fund shares, commercial paper, certificates of deposit, and U.S. Treasury bills or other

 governmental obligations that mature in one year or less.

(3) Includes pledges receivable, receivables from officers and disqualified persons, prepaid expenses and deferred charges, other investments, and other financial assets. Not included in table F.101.

(4) Not included in table F.101.
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L.101.a Nonprofit Organizations (1)

Billions of dollars; amounts outstanding end of period

2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 1 FL164090005 Total financial assets 3044.9 3089.0 2562.0 2890.6 3232.7 3270.4 3587.3 3996.7 4205.5 1

 2 FL163020005 Cash and non-interest-bearing deposits 74.4 80.2 77.8 87.3 97.4 104.8 111.0 121.8 134.9 2

 3 FL163030205 Other deposits and short-term investments (2) 264.2 285.4 302.0 301.2 299.4 294.8 309.9 316.0 326.8 3

 4 LM164022005 Debt securities 252.8 251.0 247.6 285.8 272.0 275.5 268.6 254.6 282.2 4

 5 LM163061005 U.S. government and municipal securities 124.4 116.3 114.5 122.1 102.9 101.7 92.9 86.2 110.9 5

 6 LM163063005 Corporate and foreign bonds 128.4 134.7 133.1 163.7 169.1 173.9 175.7 168.5 171.3 6

 7 FL164023005 Loans 208.6 225.7 230.6 220.6 207.1 192.4 183.1 185.8 179.9 7

 8 FL163065013 Mortgages 1.1 1.1 1.0 0.9 0.9 1.0 1.1 0.8 1.1 8

 9 FL163066223 Consumer credit 74.8 82.5 88.9 82.5 71.3 67.1 58.0 51.8 47.6 9

10 FL164041005 Other notes and loans receivable 132.6 142.0 140.7 137.2 134.8 124.4 124.0 133.2 131.2 10

11 LM163064005 Corporate equities and mutual fund shares 1191.4 1147.1 712.9 885.8 1064.3 1052.9 1230.5 1494.7 1552.6 11

12 FL163070005 Grants and trade receivables 161.2 171.2 178.7 178.0 184.2 198.6 207.6 213.2 240.7 12

13 FL163093005 Miscellaneous assets (3) 892.3 928.4 812.5 932.0 1108.4 1151.4 1276.7 1410.5 1488.3 13

14 FL164190005 Liabilities 1167.9 1256.9 1331.2 1420.4 1435.0 1519.6 1589.3 1609.6 1723.3 14

15 FL163162003 Debt securities (municipal securities) 232.7 255.3 264.7 271.7 270.1 262.4 248.2 233.8 226.9 15

16 FL164123005 Loans 231.6 247.9 245.8 246.8 247.0 254.1 269.3 276.2 291.7 16

17 FL163168005 Depository institution loans n.e.c. 46.3 49.6 38.8 49.6 48.6 50.0 56.6 54.6 63.3 17

18 FL163169385 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 FL163165505 Commercial mortgages 185.3 198.3 207.0 197.2 198.3 204.0 212.8 221.7 228.3 19

20 FL163170005 Trade payables 219.3 237.1 261.3 303.1 273.9 293.9 301.0 295.4 322.1 20

21 FL163193005 Miscellaneous liabilities (4) 484.3 516.7 559.4 598.8 644.1 709.2 770.8 804.1 882.7 21

 Memo:

22 FL164090015 Total financial assets of private foundations 617.6 615.6 507.6 560.3 606.9 609.3 658.1 743.1 784.9 22

23 FL164090025 Total financial assets of 501(c) organizations 2427.3 2473.4 2054.5 2330.4 2625.9 2661.1 2929.2 3253.6 3420.6 23

(1) Includes private foundations 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.

(2) Includes interest-bearing checking and savings accounts, deposits in transit, money mutual fund shares, commercial paper, certificates of deposit, and U.S. Treasury bills or other

 governmental obligations that mature in one year or less.

(3) Includes pledges receivable, receivables from officers and disqualified persons, prepaid expenses and deferred charges, other investments, and other financial assets. Not included in table L.101.

(4) Not included in table L.101.
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S.1.a Total Economy - Current Account

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

 1 FA896902505 Gross value added 14343.4 14915.2 15556.3 16358.5 16829.5 17657.5 18376.6 18771.6 1

 (income approach)

 2 FA886300091 Less: Consumption of fixed capital 2368.4 2381.6 2450.6 2534.2 2628.9 2748.0 2841.5 2916.7 2

 3 FA896902601 Equals: Net value added 11975.0 12533.6 13105.6 13824.3 14200.6 14909.5 15535.1 15854.9 3

 4 FA896025001 Compensation of employees (paid) 7795.7 7969.5 8277.1 8618.5 8851.9 9267.0 9720.0 9992.2 4

 5 FA896020001 Wages and salaries 6260.1 6385.6 6641.2 6938.9 7126.1 7487.4 7870.6 8098.8 5

 6 FA896401001 Employers’ social contributions 1535.6 1583.9 1635.9 1679.6 1725.8 1779.7 1849.4 1893.4 6

 7 FA896240101 Taxes on production and imports less subsidies 967.8 1001.2 1042.6 1074.0 1115.6 1163.6 1198.5 1226.2 7

 8 FA896402101 Operating surplus, net 3211.6 3562.8 3785.9 4131.7 4233.1 4478.9 4616.6 4636.5 8

 9 FA266904095 Plus: Income receipts from the rest of the world 648.9 720.0 792.6 801.5 825.5 847.2 812.9 844.3 9

10 FA266904195 Less: Income payments to the rest of the world 497.8 514.1 546.0 563.9 581.3 612.6 608.4 647.2 10

11 FA896140001 Equals: Net national income/Balance of primary incomes, net 12126.1 12739.5 13352.3 14061.9 14444.8 15144.0 15739.6 16052.0 11

12 FA896402101 Operating surplus, net 3211.6 3562.8 3785.9 4131.7 4233.1 4478.9 4616.6 4636.5 12

13 FA156025105 Compensation of employees (received) 7787.0 7961.4 8269.0 8609.9 8842.4 9256.5 9708.3 9978.6 13

14 FA156020101 Wages and salaries 6251.4 6377.5 6633.2 6930.3 7116.7 7476.8 7858.9 8085.2 14

15 FA156401101 Employers’ social contributions 1535.6 1583.9 1635.9 1679.6 1725.8 1779.7 1849.4 1893.4 15

16 FA896240001 Taxes on production and imports, receivable 1026.1 1057.1 1102.6 1132.1 1174.9 1221.6 1255.8 1288.0 16

17 FA366402015 Subsidies paid -58.3 -55.9 -60.1 -58.0 -59.3 -58.1 -57.3 -61.8 17

18 FA896150105 Property income (received) 5816.7 5754.0 6012.2 6249.0 6308.7 6481.5 6675.6 6752.5 18

19 FA896130101 Interest 3464.1 3230.4 3233.2 3179.8 3041.5 3076.5 3179.0 3252.9 19

20 FA896120105 Distributed income of corporations 2072.0 2166.7 2410.7 2727.7 2894.6 3036.8 3152.7 3148.6 20

21 FA896121101 Dividends 989.3 1007.3 1118.0 1326.0 1444.8 1539.1 1637.1 1602.2 21

22 FA156122101 Withdrawals from income of quasi-corporations 1082.6 1159.4 1292.8 1401.7 1449.8 1497.6 1515.6 1546.4 22

23 FA893092201 Reinvested earnings on U.S. direct investment abroad 260.9 336.6 345.7 318.7 350.1 344.6 324.5 332.9 23

24 FA896112101 Rents on land and natural resources 18.3 19.2 21.7 22.5 22.1 23.5 19.3 18.1 24

25 FA896150005 Less: Uses of property income (paid) 5657.0 5540.0 5757.5 6002.8 6055.0 6236.4 6459.3 6541.8 25

26 FA896130001 Interest 3661.6 3411.5 3400.4 3343.9 3199.7 3229.0 3347.8 3436.9 26

27 FA896120005 Distributed income of corporations 1955.3 2046.4 2256.7 2548.7 2756.5 2888.9 3011.4 2989.0 27

28 FA896121001 Dividends 871.2 885.9 963.1 1146.7 1306.3 1391.3 1495.8 1442.6 28

29 FA896122001 Withdrawals from income of quasi-corporations 1082.6 1159.4 1292.8 1401.7 1449.8 1497.6 1515.6 1546.4 29

30 FA893192201 Reinvested earnings on foreign direct investment 21.9 62.8 78.7 87.6 76.7 95.0 80.9 97.8 30

31 FA896112001 Rents on land and natural resources 18.3 19.2 21.7 22.5 22.1 23.5 19.3 18.1 31

32 FA896140001 Net national income/Balance of primary incomes, net 12126.1 12739.5 13352.3 14061.9 14444.8 15144.0 15739.6 16052.0 32

33 FA896220001 Plus: Current taxes on income, wealth, etc. (received) 1413.1 1601.3 1819.5 1945.2 2130.7 2300.5 2455.3 2441.0 33

34 FA896220005 Less: Current taxes on income, wealth, etc. (paid) 1421.7 1609.8 1832.3 1959.0 2145.5 2290.9 2445.4 2431.2 34

35 FA896404105 Plus: Social benefits (received) 3078.2 3270.8 3232.4 3279.8 3496.6 3659.3 3844.4 3961.4 35

36 FA896404005 Less: Social contributions (paid) 3089.3 3282.4 3245.1 3293.1 3510.4 3673.4 3859.5 3977.2 36

37 FA896403105 Plus: Other current transfers (received) 672.0 723.0 699.4 656.8 683.1 758.4 810.1 831.4 37

38 FA896403005 Less: Other current transfers (paid) 789.8 842.2 822.1 769.7 792.9 862.9 936.0 962.1 38

39 FA896012005 Equals: Disposable income, net 11988.6 12600.3 13204.1 13921.8 14306.5 15035.0 15608.5 15915.2 39

40 FA896901001 Less: Final consumption expenditures 12289.0 12724.4 13220.2 13594.8 13884.9 14426.4 14943.1 15478.8 40

41 FA896006001 Equals: Net saving -300.4 -124.1 -16.1 327.0 421.6 608.6 665.5 436.5 41

 Addendum:

42 FA896902505 Gross value added (line 1) 14343.4 14915.2 15556.3 16358.5 16829.5 17657.5 18376.6 18771.6 42

43 FA087005995 Plus statistical discrepancy (NIPA) 75.3 49.2 -38.3 -203.3 -137.9 -229.9 -255.9 -147.2 43

44 FA086902005 Equals: GDP (NIPA, expenditure approach) 14418.7 14964.4 15517.9 16155.3 16691.5 17427.6 18120.7 18624.5 44

45 FA086902203 Average of GDP and GDI 14381.1 14939.8 15537.1 16256.9 16760.5 17542.6 18248.7 18698.1 45

46 FA087005086 Statistical discrepancy as a percentage of GDP 0.52 0.33 -0.25 -1.26 -0.83 -1.32 -1.41 -0.79 46
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

 1 FA896902505 Gross value added 14343.4 14915.2 15556.3 16358.5 16829.5 17657.5 18376.6 18771.6 1

 2 FA156902505 Households and nonprofit institutions serving households 1913.6 1928.8 1974.4 2029.4 2084.3 2164.6 2261.0 2354.5 2

 3 FA116902505 Nonfinancial noncorporate business 2466.4 2546.2 2751.6 2909.8 3020.8 3175.3 3274.4 3352.5 3

 4 FA106902501 Nonfinancial corporate business 6859.8 7238.7 7592.3 8011.9 8305.2 8716.9 9059.3 9165.4 4

 5 FA796902505 Financial business 1015.4 1042.8 1045.8 1187.3 1172.1 1297.7 1413.0 1473.6 5

 6 FA316902505 Federal government 668.8 704.5 720.9 723.7 715.2 724.9 738.8 749.0 6

 7 FA206902505 State and local government 1419.4 1454.2 1471.4 1496.5 1532.0 1578.2 1630.1 1676.6 7

 8 FA896006001 Net saving -300.4 -124.1 -16.1 327.0 421.6 608.6 665.5 436.5 8

 9 FA156006005 Households and nonprofit institutions serving households 667.4 630.0 710.1 946.7 620.1 738.8 828.4 680.6 9

10 FA106012095 Nonfinancial corporate business 381.0 603.5 584.2 556.7 641.8 619.2 548.2 467.3 10

11 FA796012095 Financial business 171.9 208.4 149.7 134.5 -6.0 29.7 22.0 153.3 11

12 FA316006085 Federal government -1248.8 -1328.7 -1244.1 -1090.1 -643.8 -610.2 -586.7 -697.3 12

13 FA206006095 State and local government -271.9 -237.3 -215.9 -220.8 -190.5 -168.9 -146.4 -167.4 13

 Net capital transfers

14 FA155440005 Households and nonprofit institutions serving households -28.4 -20.6 2.0 -5.1 20.0 9.3 21.2 14.8 14

15 FA115440005 Nonfinancial noncorporate business -6.0 -7.8 -1.6 -4.9 -0.0 0.0 0.0 0.0 15

16 FA105440005 Nonfinancial corporate business 38.3 20.9 -6.4 -17.0 -5.7 -6.7 -3.2 2.6 16

17 FA795440005 Financial business -121.9 -41.5 -32.4 9.6 0.0 10.0 0.0 1.8 17

18 FA315440005 Federal government 186.3 126.3 113.9 85.0 58.2 58.4 51.4 53.6 18

19 FA205440005 State and local government -67.7 -76.7 -73.8 -74.2 -71.6 -70.7 -69.0 -72.4 19

20 FA265440005 Rest of the world -0.6 -0.7 -1.6 6.5 -0.8 -0.4 -0.4 -0.4 20

21 FA885019005 Gross fixed capital formation 2672.7 2691.1 2836.0 3064.3 3206.2 3432.8 3589.8 3631.9 21

22 FA155019005 Households and nonprofit institutions serving households 468.1 452.4 451.9 505.3 571.2 611.0 681.5 736.6 22

23 FA115019085 Nonfinancial noncorporate business 248.8 243.1 274.8 312.6 336.5 369.2 383.6 394.4 23

24 FA105019085 Nonfinancial corporate business 1141.9 1181.0 1303.9 1439.9 1505.0 1635.8 1674.2 1641.2 24

25 FA795013005 Financial business (nonresidential) 166.9 162.8 167.5 192.1 201.3 222.5 242.3 250.0 25

26 FA315019001 Federal government 284.0 300.0 297.4 284.7 268.4 263.7 264.0 267.0 26

27 FA205019001 State and local government 363.0 351.9 340.5 329.7 323.9 330.7 344.1 342.7 27

28 FA886300095 Consumption of fixed capital 2368.4 2381.6 2450.6 2534.2 2628.9 2748.0 2841.5 2916.7 28

29 FA156300003 Households and nonprofit institutions serving households 403.3 400.5 398.2 404.6 427.7 456.1 472.7 495.3 29

30 FA116300001 Nonfinancial noncorporate business 253.0 251.8 265.0 273.0 284.4 299.0 310.9 320.7 30

31 FA106300003 Nonfinancial corporate business 1092.0 1094.6 1139.2 1186.2 1228.2 1285.7 1336.1 1364.9 31

32 FA796300081 Financial business (nonresidential) 177.4 176.7 168.6 174.2 182.2 190.3 199.9 209.6 32

33 FA316300003 Federal government 234.5 245.3 257.4 264.3 268.0 271.0 271.3 271.3 33

34 FA206300003 State and local government 208.2 212.7 222.2 231.9 238.5 245.9 250.6 254.9 34

35 FA145020005 Change in inventories -147.6 61.5 41.8 61.8 92.4 78.0 111.9 35.1 35

36 FA115020005 Nonfinancial noncorporate business -16.8 3.6 6.8 -4.0 18.8 7.8 15.5 4.5 36

37 FA105020005 Nonfinancial corporate business -130.8 57.9 34.9 65.8 73.6 70.1 96.4 30.6 37

38 FA885000985 Net lending (+) or net borrowing (-) (capital account) -457.8 -495.8 -444.8 -258.4 -249.0 -154.5 -195.1 -314.2 38

39 FA155000905 Households and nonprofit institutions serving households 640.6 607.2 662.3 858.9 464.6 583.2 607.5 433.9 39

40 FA115000905 Nonfinancial noncorporate business 27.0 12.8 -15.1 -30.7 -70.9 -78.0 -88.2 -78.2 40

41 FA105000905 Nonfinancial corporate business 417.2 439.3 391.4 253.4 295.7 203.9 87.1 150.2 41

42 FA795000995 Financial business 304.4 263.8 183.3 107.0 -25.1 -12.5 -20.4 111.2 42

43 FA315000995 Federal government -1475.7 -1508.7 -1397.1 -1193.4 -700.0 -658.6 -600.0 -738.0 43

44 FA205000995 State and local government -371.4 -310.3 -269.6 -253.6 -213.3 -192.5 -181.2 -193.4 44

 Addendum:

45 FA087005995 Statistical discrepancy (NIPA) 75.3 49.2 -38.3 -203.3 -137.9 -229.9 -255.9 -147.2 45

46 FA265000905 Rest of the world 382.5 446.6 483.2 461.7 386.9 384.4 451.0 461.4 46

47 FA885000005 Net lending (+) or net borrowing (-) (financial account) -867.0 -608.8 -506.9 -928.5 245.2 -302.4 242.1 94.3 47

48 FA155000005 Households and nonprofit institutions serving households 535.9 916.5 1509.1 892.5 968.5 908.3 795.1 661.1 48

49 FA115000005 Nonfinancial noncorporate business 44.8 29.5 -15.1 -30.7 -70.9 -78.0 -88.1 -78.2 49

50 FA105000005 Nonfinancial corporate business 548.5 145.2 -397.5 -478.5 63.1 -459.5 74.9 99.3 50

51 FA795000005 Financial business -274.3 -8.6 36.2 38.2 174.4 67.8 166.0 258.7 51

52 FA315000005 Federal government -1291.0 -1416.8 -1349.9 -1130.0 -662.0 -596.7 -535.8 -696.3 52

53 FA215000005 State and local government -430.8 -274.6 -289.7 -219.9 -227.8 -144.3 -170.0 -150.4 53

 Addendum:

54 FA265000005 Rest of the world 116.3 256.9 452.6 467.2 333.8 275.6 227.6 331.4 54

 Total other volume changes

55 FV158090185 Households and nonprofit institutions serving households 37.2 1010.3 489.5 181.7 1592.8 360.9 1004.5 605.5 55

56 FV118090105 Nonfinancial noncorporate business -96.6 183.5 241.8 81.1 191.7 143.5 23.2 41.7 56

57 FV108090105 Nonfinancial corporate business -65.2 202.1 -62.1 -419.1 200.5 -119.1 561.4 573.8 57

58 FV798090185 Financial business -530.1 -210.4 -148.6 138.2 219.9 -83.6 105.1 230.6 58

59 FV318090185 Federal government 128.7 -31.0 48.4 43.0 25.7 77.6 118.5 48.8 59

60 FV218090185 State and local government -20.5 -206.8 -12.4 59.9 -15.0 -7.9 -47.5 6.7 60

61 FV268090185 Rest of the world -251.7 -179.3 -40.1 -0.2 -44.5 -108.9 -220.5 -129.9 61

 Holding gains/losses

62 FR158200095 Households and nonprofit institutions serving households 1075.4 2302.0 -126.2 4556.1 7553.3 3874.3 1207.0 4148.6 62

63 FR112010005 Nonfinancial noncorporate business -1024.3 358.6 272.9 619.4 865.6 643.4 601.4 609.7 63

64 FR108200005 Nonfinancial corporate business -4580.9 -1385.1 304.2 -1306.5 -3846.3 -1622.2 1357.5 -1265.1 64

65 FR798200005 Financial business 21.1 -411.4 537.6 -583.5 -1315.9 -289.2 -77.4 -736.0 65

66 FR318200005 Federal government -157.9 18.5 37.4 45.3 79.4 52.4 10.4 49.3 66

67 FR218200005 State and local government 352.9 446.4 352.1 525.1 776.2 341.0 -71.7 455.7 67

68 FR265000005 Rest of the world -891.0 -187.1 871.5 -372.9 406.2 753.4 -147.3 190.7 68
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

 Change in net worth

69 FC152090005 Households and nonprofit institutions serving households 1808.4 3962.9 1071.4 5689.5 9746.2 4964.6 3018.6 5419.9 69

70 FC112090205 Nonfinancial noncorporate business -1115.9 549.8 515.5 705.9 1057.0 786.6 623.9 652.7 70

71 FC102090085 Nonfinancial corporate business -4303.4 -600.4 832.7 -1152.0 -2998.2 -1115.5 2470.2 -226.7 71

72 FC792090095 Financial business -215.1 -371.9 571.1 -320.4 -1102.0 -353.1 49.6 -353.9 72

73 FC312090095 Federal government -1464.3 -1467.5 -1272.2 -1086.8 -596.9 -538.5 -509.1 -652.8 73

74 FC212090095 State and local government 128.2 79.0 197.7 438.4 642.3 234.8 -196.6 367.3 74

75 FC262090095 Rest of the world -760.2 80.2 1314.5 88.6 748.7 1028.9 83.1 522.1 75

 Net worth

76 FL152090005 Households and nonprofit institutions serving households 58082.3 62045.2 63116.6 68806.1 78552.2 83516.9 86535.5 91955.4 76

77 LM112090205 Nonfinancial noncorporate business 6187.1 6736.9 7252.4 7958.3 9015.3 9801.9 10425.8 11078.4 77

78 FL102090085 Nonfinancial corporate business 2215.1 1614.7 2447.4 1295.4 -1702.8 -2818.2 -348.0 -574.7 78

79 FL792090095 Financial business 1392.6 1020.7 1591.8 1271.4 169.4 -183.7 -134.1 -488.0 79

80 FL312090095 Federal government -6768.1 -8235.6 -9507.8 -10594.6 -11191.5 -11730.0 -12239.0 -12891.9 80

81 FL212090095 State and local government 5984.1 6063.1 6260.8 6699.2 7341.5 7576.3 7379.7 7747.1 81

82 FL262090095 Rest of the world 2184.0 2264.2 3578.7 3667.3 4416.0 5444.9 5528.1 6050.2 82
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S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

 Current account

 1 FA156902505 Gross value added 1913.6 1928.8 1974.4 2029.4 2084.3 2164.6 2261.0 2354.5 1

 2 FA156300003 Less: Consumption of fixed capital 403.3 400.5 398.2 404.6 427.7 456.1 472.7 495.3 2

 3 FA156902605 Equals: Net value added 1510.3 1528.3 1576.1 1624.8 1656.6 1708.4 1788.3 1859.2 3

 4 FA156025005 Compensation paid by households and NPISHs 686.6 696.4 723.9 759.2 779.8 809.6 851.7 883.9 4

 5 FA156020001 Wages and salaries 566.1 577.3 597.0 624.7 641.7 667.2 704.2 727.2 5

 6 FA156401001 Employers’ social contributions 120.5 119.1 126.9 134.4 138.1 142.4 147.6 156.7 6

 7 FA156240101 Taxes on production and imports less subsidies 152.4 152.8 154.9 156.0 157.7 163.8 168.9 175.6 7

 8 FA156402101 Operating surplus, net 671.3 679.1 697.2 709.6 719.0 735.1 767.7 799.8 8

 9 FA156140005 Net national income/Balance of primary incomes, net 10643.4 10889.5 11566.0 12269.0 12519.3 13184.1 13814.2 14129.0 9

10 FA156402101 Operating surplus, net 671.3 679.1 697.2 709.6 719.0 735.1 767.7 799.8 10

11 FA156025105 Compensation of employees (received) 7787.0 7961.4 8269.0 8609.9 8842.4 9256.5 9708.3 9978.6 11

12 FA156020101 Wages and salaries 6251.4 6377.5 6633.2 6930.3 7116.7 7476.8 7858.9 8085.2 12

13 FA156401101 Employers’ social contributions 1535.6 1583.9 1635.9 1679.6 1725.8 1779.7 1849.4 1893.4 13

14 FA156150105 Property income (received) 2901.9 2900.2 3207.9 3526.7 3507.2 3744.2 3904.1 3925.7 14

15 FA156130101 Interest 1265.5 1196.2 1232.9 1290.1 1263.0 1304.7 1368.7 1416.8 15

16 FA156120105 Distributed income of corporations 1636.4 1704.0 1975.0 2236.6 2244.3 2439.5 2535.4 2508.9 16

17 FA156121101 Dividends 553.7 544.6 682.2 834.9 794.4 941.9 1019.8 962.5 17

18 FA156122101 Withdrawals from income of quasi-corporations (1) 1082.6 1159.4 1292.8 1401.7 1449.8 1497.6 1515.6 1546.4 18

19 FA156130001 Less: Uses of property income (interest paid) 716.8 651.2 608.2 577.3 549.4 551.6 565.8 575.2 19

20 FA156140005 Net national income/Balance of primary incomes, net 10643.4 10889.5 11566.0 12269.0 12519.3 13184.1 13814.2 14129.0 20

21 FA156220001 Less: Current taxes on income, wealth, etc. (paid) 1152.3 1239.3 1453.2 1511.4 1677.8 1785.6 1937.9 1960.1 21

22 FA156404105 Plus: Social benefits (received) 2108.8 2281.7 2310.2 2323.6 2386.9 2498.8 2631.2 2711.0 22

23 FA156600001 Less: Social contributions (paid) 964.4 984.1 917.8 951.6 1104.6 1155.3 1208.0 1245.3 23

24 FA156403101 Plus: Other current transfers (received) 38.7 43.0 50.2 42.7 41.1 45.6 53.1 57.4 24

25 FA156403001 Less: Other current transfers (paid) 159.8 158.7 156.1 175.0 183.6 185.1 192.0 190.6 25

26 FA156012095 Equals: Disposable income, net 10514.4 10832.2 11399.4 11997.3 11981.3 12602.5 13160.6 13501.3 26

27 FA156901001 Less: Final consumption expenditures 9847.0 10202.2 10689.3 11050.6 11361.2 11863.7 12332.3 12820.7 27

28 FA156006005 Equals: Net saving 667.4 630.0 710.1 946.7 620.1 738.8 828.4 680.6 28

 Capital account

29 FA156006315 Net saving less capital transfers 695.8 650.6 708.1 951.8 600.1 729.5 807.1 665.8 29

30 FA156006005 Net saving 667.4 630.0 710.1 946.7 620.1 738.8 828.4 680.6 30

31 FA155440005 Less: Capital transfers paid (net) -28.4 -20.6 2.0 -5.1 20.0 9.3 21.2 14.8 31

32 FA155050905 Capital formation, net 55.2 43.4 45.8 92.9 135.6 146.3 199.6 231.9 32

33 FA155019005 Gross fixed capital formation, excluding consumer durables 468.1 452.4 451.9 505.3 571.2 611.0 681.5 736.6 33

34 FA155012005 Residential 321.1 318.3 321.1 367.9 433.4 473.8 535.1 585.2 34

35 FA165013005 Nonresidential (nonprofit organizations) 147.1 134.1 130.8 137.4 137.8 137.1 146.4 151.4 35

36 FA156300003 Less: Consumption of fixed capital 403.3 400.5 398.2 404.6 427.7 456.1 472.7 495.3 36

37 FA155420003 Acquisition of nonproduced nonfinancial assets -9.7 -8.5 -7.8 -7.9 -7.9 -8.5 -9.2 -9.4 37

38 FA155000905 Net lending (+) or borrowing (-), capital account (lines 29-32) 640.6 607.2 662.3 858.9 464.6 583.2 607.5 433.9 38

 Financial account

39 FA155000905 Net lending (+) or borrowing (-) (line 38) 640.6 607.2 662.3 858.9 464.6 583.2 607.5 433.9 39

40 FA154090005 Net acquisition of financial assets 632.9 805.0 1527.6 1048.0 1188.0 1236.5 1130.4 1144.1 40

41 FA154000005 Currency and deposits 153.1 264.3 666.8 514.4 398.4 511.3 494.2 629.0 41

42 FA153020005 Currency and transferable deposits 44.3 23.7 305.3 117.6 193.9 74.8 26.9 -62.0 42

43 FA153030005 Time and savings deposits 116.1 236.1 371.3 404.7 201.9 442.9 481.8 696.5 43

44 FA153091003 Foreign deposits -7.2 4.5 -9.9 -7.9 2.6 -6.4 -14.4 -5.6 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 -95.7 -25.3 226.0 -195.4 -428.4 -164.0 233.0 -58.7 46

47 FA153061105 Treasury securities 494.0 300.4 -155.7 221.2 -50.0 -257.7 299.7 149.2 47

48 FA153061705 Agency- and GSE-backed securities (2) -663.4 -3.1 106.4 -61.6 -56.4 81.0 196.3 -74.0 48

49 FA153062005 Municipal securities 162.1 72.3 -9.2 -117.6 -53.7 -63.3 -57.0 30.3 49

50 FA153063005 Corporate and foreign bonds -88.5 -395.0 284.6 -237.4 -268.3 76.1 -205.8 -164.2 50

51 FA154023005 Loans -29.0 17.1 -0.1 17.6 55.4 46.6 -60.6 -4.4 51

52 FA154041005 Short term -47.4 11.7 -6.2 30.5 57.3 47.6 -53.3 -4.1 52

53 FA153065005 Long term (mortgages) 18.3 5.4 6.1 -12.8 -1.8 -1.0 -7.4 -0.2 53

54 FA153081005 Equity and investment fund shares 54.9 -93.4 15.2 248.2 585.6 440.2 18.0 59.6 54

55 FA153064105 Corporate equities 71.4 -248.8 -382.8 -234.3 175.7 132.6 -142.3 -109.3 55

56 FA153064205 Mutual fund shares 360.6 224.6 177.4 325.1 227.1 251.1 124.3 140.7 56

57 FA153034005 Money market fund shares -270.7 -242.1 -13.9 69.3 0.7 -87.1 11.4 -21.0 57

58 FA152090205 Equity in noncorporate business -107.5 168.8 234.1 91.5 183.9 143.7 24.5 49.3 58

59 FA153094305 Equity investment under Public-Private Inv. Program (3) 1.2 4.0 0.5 -3.4 -1.8 0.0 0.0 0.0 59
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60 FA153052005 Insurance, pension and standardized guarantee schemes 550.3 636.1 605.3 454.2 571.3 375.0 428.6 499.9 60

61 FA153076005 Insurance receivables due from property-casualty insurance companies 8.7 -35.2 27.6 -17.7 37.8 -8.2 23.4 17.4 61

62 FA153040005 Life insurance reserves 20.6 7.3 69.9 -30.2 12.0 35.1 34.8 15.4 62

63 FA153050005 Pension entitlements (4) 496.0 624.4 474.5 490.5 508.9 331.9 359.6 431.4 63

64 FA543195005 Non-life insurance reserves at life insurance companies 8.4 17.1 14.8 -1.8 0.4 5.8 3.4 22.9 64

65 FA313195105 Retiree Health Care Funds 16.6 22.5 18.5 13.3 12.2 10.4 7.4 12.9 65

66 FA163070005 Other accounts receivable (trade receivables) -0.8 6.3 14.4 9.0 5.6 27.5 17.1 18.7 66

67 FA154190005 Net incurrence of liabilities 97.0 -111.6 18.5 155.5 219.5 328.3 335.3 483.0 67

68 FA163162003 Debt securities (municipals) 7.0 -1.6 -7.6 -14.2 -14.4 -6.9 -8.1 -3.4 68

69 FA154123005 Loans 53.2 -83.4 6.6 162.0 236.5 307.3 329.0 472.5 69

70 FA154141005 Short term -26.2 75.7 68.8 222.8 222.8 274.2 189.4 230.0 70

71 FA153166000 Consumer credit -94.6 -28.2 110.3 163.2 175.1 221.2 234.4 230.6 71

72 FA153168005 Depository institution loans n.e.c. 29.7 26.2 -4.1 -6.7 10.2 19.8 31.6 9.6 72

73 FA153169005 Other loans and advances 38.7 77.6 -37.4 66.3 37.5 33.2 -76.5 -10.2 73

74 FA153165005 Long term (mortgages) 79.3 -159.1 -62.2 -60.8 13.7 33.1 139.6 242.4 74

75 FA543077073 Insurance, pension and standardized guarantee schemes -4.9 2.6 -0.5 0.6 3.0 1.2 1.7 -0.3 75

76 FA163170005 Other accounts payable (trade debt) 41.8 -29.2 20.0 7.2 -5.6 26.7 12.6 14.3 76

 Addendum:

77 FA155000005 Net lending (+) or borrowing (-), financial account (lines 40-67) 535.9 916.5 1509.1 892.5 968.5 908.3 795.1 661.1 77

 Other changes in volume account

78 FV158090185 Total other volume changes 37.2 1010.3 489.5 181.7 1592.8 360.9 1004.5 605.5 78

79 FU155111005 Net investment in consumer durable goods 50.3 86.9 119.0 167.1 185.7 215.6 246.5 253.9 79

80 FV152010005 Disaster losses 0.0 0.0 0.0 -20.9 0.0 0.0 0.0 0.0 80

81 FV158090085 Other volume changes 91.6 614.1 -476.3 1.9 903.1 -179.8 570.5 124.4 81

82 FU157005045 Less: Statistical discrepancy (lines 38-77) (5) 104.7 -309.4 -846.8 -33.6 -503.9 -325.1 -187.6 -227.2 82

 Revaluation account

83 FR152010085 Nonfinancial assets -1015.1 -563.8 19.5 1326.2 1962.6 1072.5 1295.2 1279.8 83

84 FR155035005 Real estate -967.7 -472.6 -2.9 1367.2 2052.6 1174.9 1358.4 1382.7 84

85 FR155111005 Consumer durable goods -40.8 -88.3 17.7 -41.5 -93.4 -102.2 -64.6 -102.3 85

86 FR165015205 Equipment -4.7 -2.4 2.5 -0.7 0.3 -1.5 0.6 0.3 86

87 FR165013765 Intellectual property products -2.0 -0.4 2.2 1.2 3.1 1.2 0.8 -0.9 87

88 FR158080095 Financial assets 2090.5 2865.8 -145.7 3229.9 5590.6 2801.8 -88.2 2868.8 88

89 FR153064105 Corporate equities 1615.5 1615.4 -176.4 1539.3 2977.6 1532.7 -335.8 1493.5 89

90 FR153064205 Mutual fund shares 719.0 403.7 -148.8 516.5 782.2 237.8 -194.5 341.2 90

91 FR152090205 Equity in noncorporate business -1018.8 369.3 272.4 625.5 871.2 644.3 599.7 617.5 91

92 FR153094305 Equity investment under Public-Private Inv. Program -0.3 -1.0 0.9 -0.0 0.0 0.0 0.0 0.0 92

93 FR153052045 Insurance, pension and standardized guarantee schemes 775.2 478.5 -93.8 548.7 959.6 387.0 -157.5 416.6 93

94 FR158200095 Changes in net worth due to nominal holding gains/losses 1075.4 2302.0 -126.2 4556.1 7553.3 3874.3 1207.0 4148.6 94

 Changes in balance sheet account

95 FC152090005 Change in net worth (lines 32+38+78+94) 1808.4 3962.9 1071.4 5689.5 9746.2 4964.6 3018.6 5419.9 95

 Balance sheet account (end of period)

96 FL152000005 Total assets 72385.7 76073.0 77014.9 82719.4 92596.6 97844.2 101061.7 106934.3 96

97 LM152010005 Nonfinancial assets 23516.7 23081.1 23263.1 24826.2 27108.7 28540.8 30279.8 32041.9 97

98 LM155035005 Real estate 18560.3 18112.6 18137.5 19559.6 21729.9 23035.7 24575.9 26172.2 98

99 LM155111005 Consumer durable goods 4588.1 4586.7 4723.3 4848.9 4941.2 5054.6 5236.5 5388.1 99

100 LM165015205 Equipment 271.9 280.1 293.0 301.8 311.6 317.9 328.1 337.5 100

101 LM165013765 Intellectual property products 96.4 101.8 109.4 115.9 126.0 132.5 139.3 144.1 101

102 FL154090005 Financial assets 48869.0 52991.8 53751.8 57893.2 65487.8 69303.4 70782.0 74892.4 102

103 FL154000005 Currency and deposits 6798.2 7013.1 7672.6 8128.3 8526.7 9100.8 9601.8 10220.1 103

104 FL153020005 Currency and transferable deposits 470.0 482.4 780.6 884.5 1078.4 1153.2 1181.6 1108.8 104

105 LM153091003 Foreign deposits 62.7 67.3 57.4 49.5 52.1 45.6 31.2 25.6 105

106 FL153030005 Time and savings deposits 6265.4 6463.5 6834.7 7194.3 7396.3 7902.0 8389.0 9085.7 106

107 FL313131003 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 107

108 FL154022005 Debt securities 5000.8 4956.4 4519.8 4243.6 4555.8 4055.8 4636.9 4591.9 108

109 FL153061105 Treasury securities 841.2 1083.5 662.9 912.9 1147.4 798.4 1179.2 1400.2 109

110 FL153061705 Agency- and GSE-backed securities (2) 307.7 268.3 296.9 200.6 258.8 261.8 500.4 446.5 110

111 FL153062005 Municipal securities 2002.7 2082.9 1980.9 1842.7 1851.8 1709.1 1655.4 1711.6 111

112 FL153063005 Corporate and foreign bonds 1849.2 1521.7 1579.0 1287.4 1297.8 1286.5 1301.8 1033.6 112
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2009 2010 2011 2012 2013 2014 2015 2016

 

113 FL154023005 Loans 937.7 954.8 954.8 961.3 1016.8 1063.3 1002.7 998.3 113

114 FL154041005 Short term 811.0 822.7 816.6 836.0 893.2 940.8 887.6 883.4 114

115 FL153065005 Long term (mortgages) 126.7 132.1 138.2 125.4 123.5 122.5 115.1 114.9 115

116 FL153081005 Equity and investment fund shares 18727.7 21038.8 21012.7 23940.4 29161.5 32019.1 32110.9 34624.2 116

117 LM153064105 Corporate equities 7338.0 8704.6 8191.6 9496.6 12649.9 14315.3 13837.2 15221.4 117

118 LM153064205 Mutual fund shares 3874.9 4503.2 4489.0 5330.6 6339.8 6828.7 6758.5 7240.3 118

119 FL153034005 Money market fund shares 1306.0 1064.0 1049.7 1119.0 1119.8 1032.6 1044.0 1023.1 119

120 LM152090205 Equity in noncorporate business 6207.9 6763.2 7277.1 7992.4 9052.0 9842.5 10471.1 11139.4 120

121 LM153094305 Equity investment under Public-Private Inv. Program (3) 0.9 3.8 5.2 1.8 0.0 0.0 0.0 0.0 121

122 FL153052005 Insurance, pension and standardized guarantee schemes 17226.6 18844.5 19393.4 20412.0 22013.8 22823.6 23171.8 24181.3 122

123 FL153076005 Insurance receivables due from property-casualty insurance companies 346.0 310.8 338.4 320.7 358.5 350.3 373.7 391.1 123

124 FL153040005 Life insurance reserves 1109.5 1137.5 1199.3 1186.4 1233.0 1282.8 1309.1 1340.0 124

125 FL153050005 Pension entitlements (4) 15317.1 16902.6 17328.8 18366.5 19871.2 20623.3 20911.0 21836.5 125

126 FL543195005 Non-life insurance reserves at life insurance companies 273.6 290.7 305.5 303.7 304.2 310.0 313.4 336.2 126

127 FL313195105 Retiree Health Care Funds 180.4 202.9 221.4 234.8 246.9 257.3 264.7 277.6 127

128 FL163070005 Other accounts receivable (trade receivables) 178.0 184.2 198.6 207.6 213.2 240.7 257.9 276.5 128

129 FL152100005 Total liabilities and net worth 72385.7 76073.0 77014.9 82719.4 92596.6 97844.2 101061.7 106934.3 129

130 FL154190005 Liabilities 14303.4 14027.8 13898.4 13913.3 14044.3 14327.3 14526.2 14978.9 130

131 FL163162003 Debt securities (municipals) 271.7 270.1 262.4 248.2 233.8 226.9 218.8 215.4 131

132 FL154123005 Loans 13705.8 13458.4 13317.0 13338.5 13486.4 13748.5 13941.1 14383.2 132

133 FL154141005 Short term 3040.4 3274.7 3343.5 3567.3 3790.1 4064.3 4131.7 4361.7 133

134 FL153166000 Consumer credit 2555.0 2646.8 2757.1 2918.3 3093.4 3314.6 3413.6 3644.2 134

135 FL153168005 Depository institution loans n.e.c. 148.6 213.5 209.4 205.7 216.0 235.8 280.6 290.2 135

136 FL153169005 Other loans and advances 336.7 414.4 377.0 443.3 480.8 514.0 437.4 427.2 136

137 FL153165005 Long term (mortgages) 10665.4 10183.7 9973.5 9771.2 9696.3 9684.2 9809.5 10021.6 137

138 FL543077073 Insurance, pension and standardized guarantee schemes 22.9 25.5 25.0 25.7 28.7 29.9 31.6 31.3 138

139 FL163170005 Other accounts payable (trade debt) 303.1 273.9 293.9 301.0 295.4 322.1 334.7 349.0 139

140 FL152090005 Net worth 58082.3 62045.2 63116.6 68806.1 78552.2 83516.9 86535.5 91955.4 140

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
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 Current account

 1 FA116902505 Gross value added 2466.4 2546.2 2751.6 2909.8 3020.8 3175.3 3274.4 3352.5 1

 2 FA116300001 Less: Consumption of fixed capital 253.0 251.8 265.0 273.0 284.4 299.0 310.9 320.7 2

 3 FA116902605 Equals: Net value added 2213.4 2294.4 2486.6 2636.8 2736.4 2876.2 2963.4 3031.9 3

 4 FA116025001 Compensation of employees (paid) 805.4 816.6 845.9 892.6 920.5 968.7 1024.1 1059.3 4

 5 FA116020001 Wages and salaries 675.0 684.6 713.1 752.7 775.7 819.1 867.3 899.4 5

 6 FA116401005 Employers’ social contributions 130.4 131.9 132.8 139.9 144.8 149.7 156.8 159.9 6

 7 FA116240101 Taxes on production and imports less subsidies 145.4 150.7 158.7 167.5 176.6 186.5 193.2 192.2 7

 8 FA116402105 Operating surplus, net 1262.6 1327.1 1482.0 1576.7 1639.3 1721.0 1746.1 1780.3 8

 9 FA116140001 Net national income/Balance of primary incomes, net 21.0 23.0 25.5 27.3 29.8 29.4 25.7 26.1 9

10 FA116402105 Operating surplus, net 1262.6 1327.1 1482.0 1576.7 1639.3 1721.0 1746.1 1780.3 10

11 FA116130101 Property income (interest received) 9.4 8.4 9.1 10.6 9.7 12.4 18.2 22.3 11

12 FA116150005 Less: Uses of property income (paid) 1251.0 1312.5 1465.5 1560.1 1619.3 1703.9 1738.6 1776.5 12

13 FA116130001 Interest 242.7 237.9 226.9 226.1 216.8 222.0 230.4 237.3 13

14 FA116122001 Withdrawals from income of quasi-corporations (2) 1008.3 1074.5 1238.4 1333.8 1402.3 1481.7 1508.0 1538.9 14

15 FA113192281 Reinvested earnings on foreign direct investment 0.0 0.1 0.1 0.2 0.2 0.2 0.2 0.3 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 21.0 23.0 25.5 27.3 29.8 29.4 25.7 26.1 17

18 FA116403001 Less: Other current transfers (paid) 21.0 23.0 25.5 27.3 29.8 29.4 25.7 26.1 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 6.0 7.8 1.6 4.9 0.0 -0.0 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) -6.0 -7.8 -1.6 -4.9 -0.0 0.0 0.0 0.0 23

24 FA115050985 Capital formation, net -21.0 -5.1 16.7 35.6 70.9 78.0 88.2 78.2 24

25 FA115019085 Gross fixed capital formation 248.8 243.1 274.8 312.6 336.5 369.2 383.6 394.4 25

26 FA115013085 Nonresidential 182.9 184.9 214.6 243.7 256.7 280.1 281.7 282.8 26

27 FA115012005 Residential 65.8 58.3 60.2 68.9 79.7 89.1 101.9 111.6 27

28 FA116300001 Less: Consumption of fixed capital 253.0 251.8 265.0 273.0 284.4 299.0 310.9 320.7 28

29 FA115020005 Change in private inventories -16.8 3.6 6.8 -4.0 18.8 7.8 15.5 4.5 29

30 FA115000905 Net lending (+) or borrowing (-), capital account (lines 21-24) 27.0 12.8 -15.1 -30.7 -70.9 -78.0 -88.2 -78.2 30

 Financial account

31 FA115000905 Net lending (+) or borrowing (-) (line 30) 27.0 12.8 -15.1 -30.7 -70.9 -78.0 -88.2 -78.2 31

32 FA114090005 Net acquisition of financial assets -117.1 152.0 196.9 301.2 304.5 442.6 327.3 329.2 32

33 FA114000005 Currency and deposits 10.1 0.2 30.6 69.3 23.5 85.0 69.4 73.0 33

34 FA113020005 Currency and transferable deposits -25.1 -42.7 -15.4 19.3 -8.0 69.3 41.2 24.8 34

35 FA113030003 Time and savings deposits 35.2 42.9 46.0 50.1 31.5 15.7 28.1 48.2 35

36 FA114022005 Debt securities -5.5 2.5 1.1 4.2 0.5 1.7 4.3 4.2 36

37 FA113061003 Treasury securities -5.7 1.9 0.8 4.0 2.2 2.0 4.0 3.9 37

38 FA113062003 Municipal securities 0.2 0.5 0.3 0.2 -1.7 -0.3 0.3 0.3 38

39 FA114023005 Loans -1.2 4.2 -5.8 -2.4 1.0 -0.4 2.4 2.4 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) -1.2 4.2 -5.8 -2.4 1.0 -0.4 2.4 2.4 41

42 FA113081005 Equity and investment fund shares -1.7 3.5 1.1 3.2 2.6 3.7 6.5 6.6 42

43 FA113034003 Money market fund shares -1.7 3.1 0.8 3.0 2.0 2.9 6.0 5.8 43

44 FA113092405 Equity in government-sponsored enterprises (3) -0.0 0.4 0.3 0.1 0.6 0.7 0.5 0.7 44

45 FA113076005 Insurance, pension and standardized guarantee schemes (4) -9.8 29.9 -4.7 15.4 -26.1 12.6 -10.2 -3.0 45

46 FA113096005 Other accounts receivable -109.0 111.8 174.5 211.4 303.0 340.1 254.8 246.1 46

47 FA113070003 Trade receivables -26.3 37.0 61.0 4.6 48.8 21.2 47.1 45.7 47

48 FA113093005 Other (miscellaneous assets) -82.7 74.7 113.5 206.9 254.1 318.9 207.7 200.5 48

49 FA114190005 Net incurrence of liabilities -161.8 122.4 211.9 331.8 375.4 520.6 415.5 407.3 49

50 FA114123005 Loans -97.0 -19.4 -56.8 175.3 109.1 283.8 310.5 299.2 50

51 FA114141005 Short term -107.3 -12.1 -25.9 73.8 28.4 96.1 103.8 75.1 51

52 FA113168005 Depository institution loans n.e.c. -102.0 -16.8 -26.5 64.6 22.3 86.7 98.0 72.5 52

53 FA113169005 Other loans and advances -5.3 4.7 0.6 9.2 6.1 9.3 5.8 2.6 53

54 FA113165005 Long term (mortgages) 10.3 -7.3 -30.9 101.5 80.7 187.8 206.7 224.1 54
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55 FA113181005 Equity and investment fund shares -108.1 166.7 234.4 83.6 187.6 142.8 20.7 42.4 55

56 FA112090205 Equity in noncorporate business -108.2 166.4 234.4 82.8 187.2 141.0 18.8 40.2 56

57 FA115114005 Foreign direct investment in the United States 0.1 0.3 0.0 0.8 0.4 1.8 1.9 2.3 57

58 FA113196005 Other accounts payable 43.3 -24.8 34.4 73.0 78.7 93.9 84.3 65.7 58

59 FA113170005 Trade payables 16.9 30.3 54.8 13.6 33.7 9.2 52.4 44.9 59

60 FA113178003 Taxes payable -6.3 -0.7 0.6 7.6 3.2 6.8 3.5 3.3 60

61 FA113193003 Other (miscellaneous liabilities) 32.6 -54.3 -21.0 51.8 41.8 77.9 28.5 17.4 61

 Addendum:

62 FA115000005 Net lending (+) or borrowing (-), financial account (lines 32-49) 44.8 29.5 -15.1 -30.7 -70.9 -78.0 -88.1 -78.2 62

 Other changes in volume account

63 FV118090105 Total other volume changes -96.6 183.5 241.8 81.1 191.7 143.5 23.2 41.7 63

64 FV112010005 Disaster losses 0.0 2.1 0.0 -8.6 0.0 0.0 0.0 0.0 64

65 FV118090085 Other volume changes -96.6 181.5 241.8 89.7 191.7 143.5 23.2 41.7 65

 Revaluation account

66 FR112010005 Nonfinancial assets -1024.3 358.6 272.9 619.4 865.6 643.4 601.4 609.7 66

67 FR115035005 Real estate -1050.5 298.9 226.4 608.8 875.8 648.2 649.7 618.9 67

68 FR115035023 Residential -431.9 165.3 144.1 339.5 469.5 353.9 418.5 423.4 68

69 FR115035035 Nonresidential -618.6 133.7 82.3 269.3 406.3 294.3 231.3 195.5 69

70 FR115015205 Equipment 19.0 21.8 16.5 6.5 7.4 -8.5 -2.5 4.1 70

71 FR115012265 Residential -2.7 -2.3 1.0 -0.3 -2.0 -2.3 -1.5 -2.0 71

72 FR115013265 Nonresidential 21.8 24.1 15.6 6.8 9.4 -6.2 -1.0 6.1 72

73 FR115013765 Intellectual property products 7.5 7.2 2.3 2.2 3.8 2.0 2.4 -1.0 73

74 FR115020005 Inventories -0.3 30.7 27.6 2.0 -21.3 1.6 -48.2 -12.3 74

75 FR115114005 Liabilities (direct investment in the U.S.) 1.0 0.2 0.8 -0.5 0.3 0.3 0.7 -1.3 75

76 FR118200005 Changes in net worth due to nominal holding gains/losses -1025.3 358.5 272.1 619.9 865.3 643.1 600.7 611.0 76

 Changes in balance sheet account

77 FC112090205 Change in net worth (lines 24+30+63+76) -1115.9 549.8 515.5 705.9 1057.0 786.6 623.9 652.7 77

 Balance sheet account (end of period)

78 FL112000005 Total assets 11918.1 12409.1 12895.5 13843.0 15084.0 16248.0 17264.8 18281.8 78

79 LM112010005 Nonfinancial assets 8341.8 8680.8 8970.3 9616.7 10553.2 11274.6 11964.1 12651.9 79

80 LM115035005 Real estate 7242.1 7524.9 7741.6 8350.0 9241.4 9917.4 10607.7 11274.3 80

81 LM115035023 Residential (5) 4174.8 4323.1 4452.6 4778.3 5248.6 5608.2 6041.6 6485.5 81

82 LM115035035 Nonresidential 3067.3 3201.9 3289.0 3571.8 3992.8 4309.2 4566.1 4788.8 82

83 LM115015205 Equipment 694.0 709.2 740.7 772.6 810.7 838.1 860.5 882.1 83

84 LM115012265 Residential 44.0 42.2 43.9 44.4 43.5 42.8 43.1 43.2 84

85 LM115013265 Nonresidential 650.0 667.0 696.8 728.3 767.2 795.4 817.4 838.9 85

86 LM115013765 Intellectual property products 183.2 189.9 196.6 204.7 214.3 222.8 232.3 239.8 86

87 LM115020005 Inventories 222.5 256.9 291.3 289.3 286.8 296.3 263.6 255.8 87

88 FL114090005 Financial assets 3576.3 3728.3 3925.1 4226.3 4530.8 4973.4 5300.7 5629.9 88

89 FL114000005 Currency and deposits 887.7 887.9 918.5 987.8 1011.3 1096.3 1165.7 1238.7 89

90 FL113020005 Currency and transferable deposits 224.4 181.6 166.3 185.5 177.5 246.8 288.0 312.8 90

91 FL113030003 Time and savings deposits 663.3 706.2 752.2 802.3 833.8 849.5 877.7 925.9 91

92 FL114022005 Debt securities 51.2 53.7 54.8 59.0 59.5 61.2 65.5 69.7 92

93 FL113061003 Treasury securities 46.1 48.1 48.9 52.9 55.2 57.2 61.2 65.1 93

94 FL113062003 Municipal securities 5.1 5.6 5.9 6.1 4.4 4.0 4.3 4.6 94

95 FL114023005 Loans 37.9 42.1 36.3 33.9 34.8 34.5 36.9 39.3 95

96 FL113066003 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96

97 FL113065005 Long term (mortgages) 37.9 42.1 36.3 33.9 34.8 34.5 36.9 39.3 97

98 FL113081005 Equity and investment fund shares 80.1 83.5 84.7 87.8 90.4 94.1 100.7 107.2 98

99 FL113034003 Money market fund shares 73.7 76.8 77.7 80.7 82.7 85.6 91.7 97.5 99

100 FL113092405 Equity in government-sponsored enterprises (3) 6.3 6.7 7.0 7.2 7.7 8.5 9.0 9.7 100

101 FL113076005 Insurance, pension and standardized guarantee schemes (4) 101.8 131.7 127.0 142.5 116.4 128.9 118.8 115.7 101

102 FL113096005 Other accounts receivable 2417.6 2529.4 2703.9 2915.3 3218.3 3558.3 3813.1 4059.2 102

103 FL113070003 Trade receivables 496.3 533.4 594.4 598.9 647.8 668.9 716.1 761.7 103

104 FL113093005 Other (miscellaneous assets) 1921.3 1996.0 2109.5 2316.4 2570.5 2889.4 3097.0 3297.5 104
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S.4.a Nonfinancial Noncorporate Business (1)

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

105 FL112100005 Total liabilities and net worth 11918.1 12409.1 12895.5 13843.0 15084.0 16248.0 17264.8 18281.8 105

106 FL114190005 Liabilities 5731.0 5672.2 5643.0 5884.7 6068.7 6446.1 6839.0 7203.4 106

107 FL114123005 Loans 3985.4 3950.9 3886.6 4057.5 4162.1 4443.3 4749.4 5047.1 107

108 FL114141005 Short term 1116.4 1098.2 1072.3 1148.6 1176.9 1273.0 1374.7 1449.8 108

109 FL113168005 Depository institution loans n.e.c. 944.2 927.4 900.9 968.0 990.3 1077.0 1175.0 1247.5 109

110 FL113169005 Other loans and advances 172.1 170.8 171.3 180.6 186.6 196.0 199.7 202.3 110

111 FL113165005 Long term (mortgages) 2869.0 2852.7 2814.3 2908.9 2985.1 3170.3 3374.7 3597.3 111

112 LM115114005 Equity and investment fund shares (direct investment in the U.S.) 4.8 5.3 6.1 6.3 7.1 9.2 11.9 12.8 112

113 FL113196005 Other accounts payable 1740.8 1716.0 1750.4 1820.9 1899.6 1993.5 2077.8 2143.5 113

114 FL113170005 Trade payables 397.6 427.8 482.7 493.8 527.5 536.7 589.1 634.0 114

115 FL113178003 Taxes payable 99.9 99.2 99.7 107.4 110.5 117.4 120.8 124.2 115

116 FL113193003 Other (miscellaneous liabilities) 1243.3 1189.0 1168.0 1219.7 1261.5 1339.4 1367.9 1385.3 116

117 LM112090205 Net worth 6187.1 6736.9 7252.4 7958.3 9015.3 9801.9 10425.8 11078.4 117

(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 the fourth quarter of 2004.

(4) Net equity in reserves of property-casualty insurance companies.

(5) Farm houses are included in the household sector.
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S.5.a Nonfinancial Corporate Business (1)

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

 Current account

 1 FA106902501 Gross value added 6859.8 7238.7 7592.3 8011.9 8305.2 8716.9 9059.3 9165.4 1

 2 FA106300003 Less: Consumption of fixed capital 1092.0 1094.6 1139.2 1186.2 1228.2 1285.7 1336.1 1364.9 2

 3 FA106902605 Equals: Net value added 5767.8 6144.2 6453.1 6825.7 7077.0 7431.2 7723.3 7800.5 3

 4 FA106025005 Compensation of employees (paid) 4088.4 4158.7 4363.4 4593.3 4749.7 5004.2 5269.3 5406.9 4

 5 FA106020001 Wages and salaries 3377.5 3446.1 3622.9 3826.4 3955.2 4182.1 4412.3 4539.1 5

 6 FA106401001 Employers’ social contributions 710.9 712.6 740.4 766.9 794.4 822.1 857.0 867.8 6

 7 FA106240101 Taxes on production and imports less subsidies 605.9 633.0 670.6 690.4 721.5 746.6 764.6 783.0 7

 8 FA106402101 Operating surplus, net 1073.5 1352.5 1419.1 1542.0 1605.8 1680.4 1689.4 1610.6 8

 9 FA106140005 Net national income/Balance of primary incomes, net 630.6 907.3 903.4 917.3 1020.1 1003.0 933.9 827.0 9

10 FA106402101 Operating surplus, net 1073.5 1352.5 1419.1 1542.0 1605.8 1680.4 1689.4 1610.6 10

11 FA106150105 Property income (received) 565.5 582.1 551.4 532.3 542.1 544.2 549.7 578.0 11

12 FA106130101 Interest 214.6 177.5 176.3 162.2 150.9 150.8 152.6 162.2 12

13 FA106121101 Distributed income of corporations (dividends) 139.0 134.4 94.8 106.9 100.6 102.1 124.4 131.4 13

14 FA103092201 Reinvested earnings on U.S. direct investment abroad 211.9 270.1 280.3 263.2 290.6 291.3 272.8 284.3 14

15 FA106150005 Less: Uses of property income (paid) 1008.5 1027.2 1067.1 1157.1 1127.9 1221.6 1305.2 1361.6 15

16 FA106130001 Interest 480.0 444.5 444.3 438.2 410.3 418.8 442.2 445.1 16

17 FA106121001 Distributed income of corporations (dividends) 491.9 511.1 536.7 625.2 632.8 700.5 776.1 816.7 17

18 FA103192201 Reinvested earnings on foreign direct investment 18.3 52.5 64.5 71.2 62.6 78.7 67.6 81.8 18

19 FA106112001 Rent 18.3 19.2 21.7 22.5 22.1 23.5 19.3 18.1 19

20 FA106140005 Net national income/Balance of primary incomes, net 630.6 907.3 903.4 917.3 1020.1 1003.0 933.9 827.0 20

21 FA106220001 Less: Current taxes on income, wealth, etc. (paid) 177.8 220.6 228.8 266.7 283.6 291.8 281.1 274.1 21

22 FA106403001 Less: Other current transfers (paid) 71.8 83.3 90.4 93.9 94.7 92.1 104.6 85.6 22

23 FA106012095 Equals: Disposable income, net 381.0 603.5 584.2 556.7 641.8 619.2 548.2 467.3 23

24 FA106012095 Equals: Net saving 381.0 603.5 584.2 556.7 641.8 619.2 548.2 467.3 24

 Capital account

25 FA106006385 Net saving less capital transfers 342.7 582.5 590.6 573.7 647.5 625.8 551.4 464.6 25

26 FA106012095 Net saving 381.0 603.5 584.2 556.7 641.8 619.2 548.2 467.3 26

27 FA105440005 Less: Capital transfers paid (net) 38.3 20.9 -6.4 -17.0 -5.7 -6.7 -3.2 2.6 27

28 FA105050985 Capital formation, net -74.6 143.3 199.1 320.3 351.8 421.9 464.2 314.4 28

 Gross fixed capital formation (acquisition of

29 FA105019085 produced nonfinancial assets) 1141.9 1181.0 1303.9 1439.9 1505.0 1635.8 1674.2 1641.2 29

30 FA106300003 Less: Consumption of fixed capital 1092.0 1094.6 1139.2 1186.2 1228.2 1285.7 1336.1 1364.9 30

31 FA105420095 Acquisition of nonproduced nonfinancial assets 6.3 -1.1 -0.5 0.8 1.4 1.7 29.6 7.5 31

32 FA105020005 Change in private inventories -130.8 57.9 34.9 65.8 73.6 70.1 96.4 30.6 32

33 FA105000905 Net lending (+) or borrowing (-), capital account (lines 25-28) 417.2 439.3 391.4 253.4 295.7 203.9 87.1 150.2 33

 Financial account

34 FA105000905 Net lending (+) or borrowing (-) (line 33) 417.2 439.3 391.4 253.4 295.7 203.9 87.1 150.2 34

35 FA104090005 Net acquisition of financial assets 299.8 632.7 496.8 506.3 989.6 922.7 1488.7 1485.4 35

36 FA104000005 Currency and deposits 254.5 91.3 42.1 56.3 143.2 21.8 39.6 183.3 36

37 FA103020005 Currency and transferable deposits 170.8 114.3 81.6 55.1 49.8 55.1 67.4 160.5 37

38 FA103030003 Time and savings deposits 76.9 -51.4 -28.1 0.6 24.8 -22.7 -7.7 19.2 38

39 FA103091003 Foreign deposits 6.8 28.4 -11.3 0.7 68.6 -10.6 -20.1 3.6 39

40 FA104022005 Debt securities 16.3 95.6 -8.7 -18.3 0.1 39.7 -4.1 -9.2 40

41 FA103069100 Open market paper -1.3 92.0 -0.3 -14.3 2.7 35.8 0.6 -11.8 41

42 FA103061103 Treasury securities 12.5 5.1 -5.1 -3.5 -0.6 2.9 -4.3 3.9 42

43 FA103061703 Agency- and GSE-backed securities (2) 4.2 1.7 -1.7 -1.2 -0.2 1.0 -1.4 1.3 43

44 FA103062003 Municipal securities 0.9 -3.2 -1.6 0.6 -1.7 0.1 1.0 -2.6 44

45 FA104035005 Loans -7.1 14.4 1.9 -7.4 0.9 41.7 16.5 30.1 45

46 FA104041005 Short term (security repos and consumer credit) -3.0 16.0 2.4 -5.6 -0.6 39.8 14.1 31.3 46

47 FA103065003 Long term (mortgages) -4.1 -1.6 -0.6 -1.9 1.6 1.9 2.3 -1.1 47

48 FA103081005 Equity and investment fund shares 223.2 234.3 358.9 305.0 345.8 344.1 288.6 116.9 48

49 FA103034003 Money market fund shares -71.4 -100.4 -39.3 -10.9 31.4 21.9 18.6 -112.9 49

50 FA103064203 Mutual fund shares 35.3 7.7 -14.5 -5.9 3.4 15.2 7.4 -11.0 50

51 FA103092005 U.S. direct investment abroad 268.6 298.6 400.1 317.9 296.9 291.1 260.4 253.8 51

52 FA103092405 Equity in government-sponsored enterprises (2) 0.0 0.1 -0.0 0.0 0.0 0.1 0.1 0.1 52

53 FA103094105 Investment in finance company subsidiaries -9.3 28.3 12.6 3.9 14.1 15.8 2.2 -13.1 53

54 FA103076005 Insurance, pension and standardized guarantee schemes (3) -4.0 11.7 12.3 8.0 -6.0 10.4 2.3 6.6 54
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2009 2010 2011 2012 2013 2014 2015 2016

 

55 FA103096005 Other accounts receivable -183.1 185.5 90.2 162.8 505.5 465.0 1145.8 1157.8 55

56 FA103070005 Trade receivables -29.5 96.9 84.2 53.5 262.3 104.7 32.1 218.8 56

57 FA103093005 Other (miscellaneous assets) -153.6 88.6 6.0 109.4 243.2 360.2 1113.7 938.9 57

58 FA104190005 Net incurrence of liabilities -248.7 487.6 894.3 984.8 926.5 1382.2 1413.8 1386.1 58

59 FA104122005 Debt securities 176.4 237.1 205.0 350.4 294.2 322.2 409.8 295.1 59

60 FA103169100 Open market paper -73.1 24.5 33.4 14.0 14.2 37.5 -3.0 1.8 60

61 FA103162000 Municipal securities 37.6 33.0 8.6 13.0 1.6 -0.7 13.2 15.2 61

62 FA103163003 Corporate bonds 211.8 179.6 163.0 323.4 278.4 285.4 399.6 278.2 62

63 FA104123005 Loans -504.9 -284.0 121.9 -62.0 100.8 95.3 92.9 107.1 63

64 FA104141005 Short term -394.8 -177.5 212.3 67.9 115.4 133.3 60.6 62.2 64

65 FA103168005 Depository institution loans n.e.c. -234.0 -87.0 152.1 101.5 73.8 70.3 78.1 50.1 65

66 FA103169005 Other loans and advances -160.8 -90.4 60.2 -33.5 41.7 63.1 -17.5 12.1 66

67 FA103165005 Long term (mortgages) -110.1 -106.5 -90.4 -129.9 -14.6 -38.0 32.4 44.9 67

68 FA103181005 Equity and investment fund shares 60.8 -88.9 -255.8 -155.7 -165.8 -209.3 -113.5 -190.0 68

69 FA103164103 Corporate equities -51.2 -250.7 -454.6 -344.9 -352.9 -394.5 -549.6 -576.8 69

70 FA103192005 Foreign direct investment in the United States 111.9 161.7 198.8 189.2 187.1 185.2 436.2 386.8 70

71 FA103152025 Insurance, pension and standardized guarantee schemes 29.7 -5.3 -1.2 -1.2 133.4 49.1 108.3 55.5 71

72 FA573074005 Pension fund contributions payable -8.6 15.4 3.0 -12.3 -2.5 -2.9 14.7 5.6 72

73 FA573073005 Claim of pension fund on sponsor 38.3 -20.7 -4.1 11.1 135.8 51.9 93.6 50.0 73

74 FA103196005 Other accounts payable -10.6 628.7 824.4 853.3 563.9 1124.9 916.3 1118.4 74

75 FA103170005 Trade payables -82.6 156.3 25.2 65.5 101.2 150.1 22.4 194.6 75

76 FA103178005 Taxes payable -3.3 7.2 8.8 2.3 -9.1 -1.4 -1.3 -8.8 76

77 FA103193005 Miscellaneous liabilities 75.3 465.2 790.4 785.5 471.7 976.2 895.2 932.5 77

 Addendum:

78 FA105000005 Net lending (+) or borrowing (-), financial account (lines 35-58) 548.5 145.2 -397.5 -478.5 63.1 -459.5 74.9 99.3 78

 Other changes in volume account

79 FV108090105 Total other volume changes -65.2 202.1 -62.1 -419.1 200.5 -119.1 561.4 573.8 79

80 FV102010005 Disaster losses 0.0 0.0 0.0 -6.9 0.0 0.0 0.0 0.0 80

81 FV108090085 Other volume changes -189.8 455.2 658.6 305.4 436.5 548.4 626.0 627.5 81

82 FU107005045 Less: Statistical discrepancy (lines 33-78) (4) -131.2 294.1 789.0 731.9 232.7 663.4 12.3 50.9 82

83 FU105020601 Less: Inventory valuation adjustment 6.7 -41.0 -68.3 -14.2 3.3 4.1 52.4 2.7 83

 Revaluation account

84 FR102010005 Nonfinancial assets -2314.3 491.9 570.6 443.8 1227.7 829.0 831.6 672.2 84

85 FR105035005 Real estate -2332.9 359.2 432.5 399.9 1163.5 869.1 899.5 651.6 85

86 FR105015205 Equipment -16.1 41.1 76.6 13.5 29.0 -57.6 -38.9 -5.0 86

87 FR105013765 Intellectual property products 3.1 22.5 27.9 19.9 41.1 21.0 20.7 -14.7 87

88 FR105020015 Inventories 31.6 69.1 33.7 10.5 -5.9 -3.4 -49.7 40.3 88

89 FR108080095 Financial assets -71.3 -133.7 -30.9 50.0 -38.4 -33.0 -56.7 36.1 89

90 FR103064203 Mutual fund shares 20.4 16.8 -6.0 19.2 28.1 8.7 -6.2 12.2 90

91 FR103092005 Direct investment abroad -91.7 -150.5 -25.0 30.7 -66.4 -41.6 -50.4 24.0 91

92 FR104190085 Liabilities 2195.3 1743.3 235.5 1800.3 5035.6 2418.2 -582.5 1973.5 92

93 FR103164103 Corporate equity 2657.3 1937.0 308.6 2020.9 5366.7 2576.0 -559.2 2120.2 93

94 FR103192005 Foreign direct investment in the United States -215.0 -13.9 -72.8 -40.5 -5.0 -4.9 -67.0 -21.3 94

95 FR103152025 Insurance, pension and standardized guarantee schemes -247.1 -179.8 -0.3 -180.1 -326.1 -152.9 43.6 -125.5 95

96 FR108200005 Changes in net worth due to nominal holding gains/losses -4580.9 -1385.1 304.2 -1306.5 -3846.3 -1622.2 1357.5 -1265.1 96

 Changes in balance sheet account

97 FC102090085 Change in net worth (lines 28+33+79+96) (5) -4303.4 -600.4 832.7 -1152.0 -2998.2 -1115.5 2470.2 -226.7 97

 Balance sheet account (end of period)

98 FL102000005 Total assets 27337.1 28746.1 30084.5 31425.8 34142.6 36383.8 39062.7 41618.2 98

99 LM102010005 Nonfinancial assets (6) 14019.6 14729.3 15575.6 16337.4 17881.9 19113.9 20314.4 21293.1 99

100 LM105035005 Real estate 6921.1 7333.9 7811.1 8278.5 9512.6 10511.7 11524.4 12265.5 100

101 LM105015205 Equipment 3793.1 3853.6 4008.0 4139.4 4287.4 4370.3 4480.1 4587.3 101

102 LM105013765 Intellectual property products 1600.7 1669.1 1746.9 1819.4 1917.4 2004.8 2088.5 2150.7 102

103 LM105020015 Inventories 1704.6 1872.7 2009.6 2100.0 2164.4 2227.0 2221.4 2289.6 103

104 FL104090005 Financial assets 13317.5 14016.8 14508.9 15088.4 16260.7 17269.9 18748.3 20325.1 104
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Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

105 FL104000005 Currency and deposits 675.2 766.5 808.6 864.9 1008.2 1030.0 1069.5 1252.8 105

106 FL103020005 Currency and transferable deposits 414.9 529.2 610.8 665.8 715.7 770.8 838.1 998.6 106

107 FL103030003 Time and savings deposits 228.8 177.4 149.3 149.9 174.7 152.0 144.3 163.5 107

108 FL103091003 Foreign deposits 31.5 59.9 48.6 49.2 117.8 107.2 87.1 90.7 108

109 FL104022005 Debt securities 140.4 236.0 227.3 208.9 209.1 248.7 244.7 235.5 109

110 FL103069100 Open market paper 56.0 148.0 147.7 133.4 136.1 171.9 172.5 160.7 110

111 FL103061103 Treasury securities 43.0 48.0 43.0 39.4 38.8 41.7 37.4 41.3 111

112 FL103061703 Agency- and GSE-backed securities (2) 14.3 16.0 14.3 13.1 12.9 13.9 12.5 13.8 112

113 FL103062003 Municipal securities 27.1 23.9 22.3 22.9 21.2 21.2 22.3 19.7 113

114 FL104035005 Loans 80.6 98.8 100.7 93.2 94.2 135.9 152.4 182.5 114

115 FL104041005 Short term 51.1 70.8 73.2 67.7 67.1 106.8 121.0 152.2 115

116 FL102051003 Security repurchases 7.9 26.4 27.4 21.7 26.4 65.9 79.9 109.5 116

117 FL103066005 Consumer credit 43.2 44.4 45.9 45.9 40.6 40.9 41.1 42.8 117

118 FL103065003 Long term (mortgages) 29.5 28.0 27.4 25.5 27.1 29.0 31.4 30.3 118

119 FL103081005 Equity and investment fund shares 4258.2 4321.6 4649.6 5004.5 5312.0 5623.1 5855.4 6008.4 119

120 FL103034003 Money market fund shares 655.5 555.1 515.8 504.9 536.3 558.2 576.8 463.9 120

121 LM103064203 Mutual fund shares 162.0 186.5 166.0 179.3 210.7 234.6 235.7 236.9 121

122 LM103092005 U.S. direct investment abroad 3369.0 3517.1 3892.3 4240.9 4471.3 4720.8 4930.7 5208.5 122

123 FL103092405 Equity in government-sponsored enterprises (2) 0.4 0.6 0.5 0.6 0.6 0.7 0.8 0.9 123

124 FL103094105 Investment in finance company subsidiaries 71.2 62.3 75.0 78.9 93.0 108.8 111.3 98.2 124

125 FL103076005 Insurance, pension and standardized guarantee schemes (3) 307.0 318.7 331.0 339.0 333.0 343.3 345.6 352.2 125

126 FL103096005 Other accounts receivable 7856.1 8275.2 8391.8 8577.8 9304.4 9888.9 11080.7 12293.7 126

127 FL103070005 Trade receivables 2064.5 2157.6 2241.9 2295.3 2557.6 2662.3 2694.4 2913.2 127

128 FL103093005 Other (miscellaneous assets) 5791.6 6117.6 6149.9 6282.5 6746.8 7226.5 8386.3 9380.5 128

129 FL102100085 Total liabilities and net worth 27337.1 28746.1 30084.5 31425.8 34142.6 36383.8 39062.7 41618.2 129

130 FL104194005 Liabilities 25121.9 27131.4 27637.1 30130.4 35845.4 39202.1 39410.7 42192.9 130

131 FL104122005 Debt securities 3714.8 3952.0 4156.9 4507.3 4801.5 5123.7 5533.5 5828.7 131

132 FL103169100 Open market paper 58.4 82.9 116.3 130.3 144.5 182.0 179.0 180.8 132

133 FL103162000 Municipal securities 470.6 503.6 512.2 525.1 526.7 526.0 539.3 554.5 133

134 FL103163003 Corporate bonds 3185.8 3365.5 3528.5 3851.9 4130.3 4415.7 4815.3 5093.4 134

135 FL104123005 Loans 2443.0 2092.2 2214.1 2195.6 2280.9 2376.7 2459.2 2561.7 135

136 FL104141005 Short term 1684.8 1425.3 1637.6 1749.0 1848.9 1982.2 2026.1 2088.2 136

137 FL103168005 Depository institution loans n.e.c. 545.8 477.1 629.2 712.1 785.8 856.0 935.8 985.8 137

138 FL103169005 Other loans and advances 1139.0 948.1 1008.3 1036.9 1063.1 1126.2 1090.3 1102.4 138

139 FL103165005 Long term (mortgages) 758.1 666.9 576.5 446.6 432.0 394.5 433.2 473.5 139

140 FL103181005 Equity and investment fund shares 14367.0 16201.1 16181.1 18005.9 23201.8 25563.6 24823.9 26732.9 140

141 LM103164103 Corporate equity 12218.4 13904.7 13758.7 15434.7 20448.5 22630.0 21521.1 23064.6 141

142 LM103192005 Foreign direct investment in the United States 2148.6 2296.4 2422.5 2571.2 2753.3 2933.6 3302.8 3668.3 142

143 FL103152025 Insurance, pension and standardized guarantee schemes 551.4 528.3 591.6 459.3 351.0 252.8 439.1 424.5 143

144 FL573074005 Pension fund contributions payable 75.4 90.8 93.8 81.4 79.0 76.1 90.8 96.3 144

145 FL573073005 Claim of pension fund on sponsor 476.0 437.5 497.8 377.9 272.0 176.7 348.3 328.1 145

146 FL103196005 Other accounts payable 4045.7 4357.8 4493.3 4962.2 5210.2 5885.3 6154.9 6645.1 146

147 FL103170005 Trade payables 1590.1 1746.4 1771.6 1837.1 1938.3 2088.4 2110.8 2305.4 147

148 FL103178005 Taxes payable 35.7 42.9 51.7 54.0 44.9 43.5 42.2 33.5 148

149 FL103193005 Miscellaneous liabilities 2420.0 2568.6 2670.1 3071.2 3227.0 3753.4 4001.8 4306.2 149

150 FL102090085 Net worth 2215.1 1614.7 2447.4 1295.4 -1702.8 -2818.2 -348.0 -574.7 150

(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 the fourth quarter of 2004.

(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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2009 2010 2011 2012 2013 2014 2015 2016

 

 Current account

 1 FA796902505 Gross value added 1015.4 1042.8 1045.8 1187.3 1172.1 1297.7 1413.0 1473.6 1

 2 FA796300081 Less: Consumption of fixed capital 177.4 176.7 168.6 174.2 182.2 190.3 199.9 209.6 2

 3 FA796902605 Equals: Net value added 838.0 866.1 877.2 1013.1 989.9 1107.4 1213.1 1264.0 3

 4 FA796025005 Compensation of employees (paid) 549.0 574.3 606.8 630.2 640.3 680.3 713.6 732.7 4

 5 FA796020001 Wages and salaries 466.2 486.4 513.5 536.8 545.5 582.2 611.2 625.6 5

 6 FA796401001 Employers’ social contributions 82.8 87.9 93.3 93.3 94.8 98.2 102.4 107.0 6

 7 FA796240101 Taxes on production and imports less subsidies 64.2 64.8 58.3 60.2 59.8 66.7 71.8 75.4 7

 8 FA796402101 Operating surplus, net 224.8 227.1 212.1 322.7 289.8 360.4 427.7 455.9 8

 9 FA796140005 Net national income/Balance of primary incomes, net 290.1 376.8 320.0 289.7 159.1 251.9 276.7 400.9 9

10 FA796402101 Operating surplus, net 224.8 227.1 212.1 322.7 289.8 360.4 427.7 455.9 10

11 FA796150105 Property income (received) 2203.6 2126.1 2108.2 2051.3 2010.8 2030.3 2078.5 2101.5 11

12 FA796130101 Interest 1878.9 1750.7 1723.3 1636.1 1536.6 1526.3 1553.9 1563.9 12

13 FA796121101 Distributed income of corporations (dividends) 275.7 308.9 319.5 359.8 414.8 450.6 472.8 488.9 13

14 FA793092281 Reinvested earnings on U.S. direct investment abroad 49.0 66.5 65.4 55.5 59.4 53.4 51.8 48.6 14

15 FA796150005 Less: Uses of property income (paid) 2138.4 1976.3 2000.3 2084.3 2141.6 2138.7 2229.5 2156.5 15

16 FA796130001 Interest 1679.7 1505.2 1504.6 1478.3 1406.3 1415.9 1489.2 1507.3 16

17 FA796120005 Distributed income of corporations 455.1 460.8 481.5 589.8 721.3 706.8 727.3 633.5 17

18 FA796121001 Dividends 380.8 376.0 427.2 521.9 673.8 690.8 719.7 626.0 18

19 FA796122001 Withdrawals from income of quasi-corporations (2) 74.4 84.9 54.3 67.9 47.5 16.0 7.6 7.5 19

20 FA793192281 Reinvested earnings on foreign direct investment 3.5 10.3 14.1 16.2 13.9 16.0 13.0 15.7 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 290.1 376.8 320.0 289.7 159.1 251.9 276.7 400.9 22

23 FA796220001 Less: Current taxes on income, wealth, etc. (paid) 91.6 150.0 150.3 180.9 184.1 213.6 226.3 196.9 23

24 FA796403005 Less: Other current transfers (paid) 26.5 18.4 20.0 -25.7 -19.0 8.7 28.4 50.7 24

25 FA796012095 Equals: Disposable income, net 171.9 208.4 149.7 134.5 -6.0 29.7 22.0 153.3 25

26 FA796012095 Equals: Net saving 171.9 208.4 149.7 134.5 -6.0 29.7 22.0 153.3 26

 Capital account

27 FA796006385 Net saving less capital transfers 293.9 249.9 182.1 124.9 -6.0 19.7 22.0 151.5 27

28 FA796012095 Net saving 171.9 208.4 149.7 134.5 -6.0 29.7 22.0 153.3 28

29 FA795440005 Less: Capital transfers paid (net) -121.9 -41.5 -32.4 9.6 0.0 10.0 0.0 1.8 29

30 FA795015085 Capital formation, net -10.5 -13.9 -1.2 17.9 19.1 32.2 42.4 40.3 30

31 FA795013005 Gross fixed capital formation (nonresidential) 166.9 162.8 167.5 192.1 201.3 222.5 242.3 250.0 31

32 FA796300081 Less: Consumption of fixed capital 177.4 176.7 168.6 174.2 182.2 190.3 199.9 209.6 32

33 FA795000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 304.4 263.8 183.3 107.0 -25.1 -12.5 -20.4 111.2 33

 Financial account

34 FA795000995 Net lending (+) or borrowing (-) (line 33) 304.4 263.8 183.3 107.0 -25.1 -12.5 -20.4 111.2 34

35 FA794090005 Net acquisition of financial assets -1329.5 18.1 1889.3 1495.2 3014.1 2623.4 1264.6 2366.2 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 244.2 -141.2 499.9 -38.5 794.3 146.6 -501.6 -504.5 37

38 FA794022005 Debt securities 851.9 691.3 891.1 1005.8 1242.0 931.6 593.9 1173.0 38

39 FA793069175 Open market paper -379.8 -176.2 -76.3 7.4 3.9 -55.4 17.7 -82.0 39

40 FA793061105 Treasury securities 448.1 583.3 976.5 340.3 480.0 645.7 356.3 722.9 40

41 FA793061705 Agency- and GSE-backed securities (3) 647.2 44.6 48.3 179.8 387.1 104.5 36.9 330.2 41

42 FA793062005 Municipal securities 9.3 24.8 -30.5 115.1 -15.8 12.7 63.0 6.5 42

43 FA793063005 Corporate and foreign bonds 127.1 214.9 -27.0 363.2 386.7 224.1 120.0 195.4 43

44 FA794035005 Loans -2948.5 -492.7 148.7 397.9 42.9 760.8 797.2 951.4 44

45 FA794041005 Short term -2895.1 -200.8 322.3 465.3 -42.6 571.5 417.0 455.0 45

46 FA793065005 Long term (mortgages) -53.4 -291.8 -173.6 -67.4 85.5 189.3 380.2 496.4 46

47 FA793081005 Equity and investment fund shares -52.3 -22.9 33.0 71.1 208.0 298.6 350.9 248.7 47

48 FA793064105 Corporate equities 47.3 115.4 20.9 35.5 -7.7 27.2 211.7 -18.5 48

49 FA793064205 Mutual fund shares 115.9 104.8 -32.6 -11.4 129.5 3.1 -37.8 -160.0 49

50 FA793034005 Money market fund shares -196.6 -182.5 -67.0 -81.0 -27.2 67.9 -14.5 91.4 50

51 FA793092405 Equity in government-sponsored enterprises (3) 0.0 -3.2 -6.2 -2.0 -0.2 0.3 0.7 1.9 51

52 FA793092005 U.S. direct investment abroad 40.7 -2.3 15.2 20.5 25.1 22.4 21.3 46.7 52

53 FA713164003 Stock in Federal Reserve Banks 4.6 0.9 0.4 0.5 0.1 1.1 0.9 1.0 53

54 FA793094005 Investment in subsidiaries -64.1 -56.0 102.4 109.0 88.2 176.7 168.7 286.2 54

55 FA793052005 Insurance, pension and standardized guarantee schemes 523.3 307.5 303.6 242.0 445.0 253.4 267.9 309.6 55

56 FA793096005 Other accounts receivable 51.8 -323.9 13.0 -183.2 281.8 232.5 -243.8 188.1 56
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2009 2010 2011 2012 2013 2014 2015 2016

 

57 FA794190005 Net incurrence of liabilities -1055.2 26.8 1853.1 1457.0 2839.7 2555.6 1098.6 2107.5 57

58 FA794100005 Currency and deposits 357.3 362.1 1446.8 597.8 1786.5 954.5 218.4 453.4 58

59 FA794122005 Debt securities -973.4 -654.9 -291.2 -436.8 74.6 152.8 119.4 358.1 59

60 FA423161705 Agency- and GSE-backed securities (3) -60.1 -39.5 -22.1 -23.8 238.3 150.3 220.4 351.7 60

61 FA793163005 Corporate bonds -459.8 -493.4 -169.4 -333.3 -83.1 70.3 -60.5 3.1 61

62 FA793169175 Commercial paper -453.5 -122.0 -99.7 -79.7 -80.7 -67.7 -40.5 3.3 62

63 FA794135005 Loans -1646.6 -85.7 138.2 248.5 -206.5 174.6 14.8 51.9 63

64 FA794141005 Short term -1658.3 -86.6 124.8 243.7 -226.3 165.3 10.8 50.9 64

65 FA643165005 Long term (mortgages) 11.8 0.8 13.5 4.8 19.9 9.3 4.0 1.0 65

66 FA793181005 Equity and investment fund shares 277.2 96.6 381.7 739.3 689.3 789.5 584.1 608.0 66

67 FA634090005 Money market fund shares -516.3 -512.4 -112.6 2.2 24.6 6.8 30.1 -26.6 67

68 FA793164105 Corporate equity issues 303.8 194.4 170.5 164.3 175.6 235.6 232.9 245.3 68

69 FA653164205 Mutual fund shares 533.4 395.9 200.8 386.3 346.3 309.7 96.7 24.6 69

70 FA403192405 Equity in government-sponsored enterprises (3) 0.0 -2.7 -5.9 -1.8 0.5 1.2 1.3 2.7 70

71 FA793192005 Foreign direct investment in the United States 45.7 48.5 43.4 21.4 29.7 25.3 38.6 79.3 71

72 FA662090205 Equity in noncorporate business 0.7 2.5 -0.3 8.7 -3.3 2.7 5.8 9.1 72

73 FA793194005 Investment by parent -94.5 -30.4 85.4 157.7 115.7 207.1 177.8 272.6 73

74 FA713164003 Stock in Federal Reserve Banks 4.6 0.9 0.4 0.5 0.1 1.1 0.9 1.0 74

75 FA583152005 Insurance, pension and standardized guarantee schemes 635.8 676.8 613.1 480.9 529.1 383.2 402.6 500.1 75

76 FA793196005 Other accounts payable 294.5 -368.0 -435.5 -172.8 -33.3 101.0 -240.6 135.8 76

 Addendum:

77 FA795000005 Net lending (+) or borrowing (-), financial account (lines 35-57) -274.3 -8.6 36.2 38.2 174.4 67.8 166.0 258.7 77

 Other changes in volume account

78 FV798090185 Total other volume changes -530.1 -210.4 -148.6 138.2 219.9 -83.6 105.1 230.6 78

79 FV795013865 Disaster losses 0.0 -2.1 0.0 -2.0 0.0 0.0 0.0 0.0 79

80 FV798090085 Other volume changes 48.6 64.1 -1.5 208.9 20.4 -163.9 -81.3 83.1 80

81 FU797005045 Less: Statistical discrepancy (lines 33-77) (4) 578.7 272.5 147.0 68.8 -199.5 -80.3 -186.4 -147.5 81

 Revaluation account

82 FR795013865 Nonfinancial assets -62.2 -2.9 42.2 18.4 37.3 20.3 17.0 15.0 82

83 FR795013665 Structures (nonresidential) -50.2 -0.3 33.2 15.3 31.0 24.4 19.5 18.3 83

84 FR795013265 Equipment -5.9 1.0 8.3 2.9 4.7 -4.5 -1.7 -2.2 84

85 FR795013765 Intellectual property products -6.1 -3.6 0.6 0.2 1.6 0.3 -0.8 -1.1 85

86 FR794090085 Financial assets 2782.9 1520.7 -323.3 1736.3 2523.9 1270.6 -890.2 1190.0 86

87 FR794022005 Debt securities 485.6 195.6 346.3 199.4 -553.3 309.8 -360.4 25.4 87

88 FR793064105 Corporate equities 2196.5 1312.2 -532.0 1509.5 3226.5 961.3 -465.9 1179.6 88

89 FR793064205 Mutual fund shares 692.7 385.8 -129.6 448.1 727.2 233.6 -131.0 301.8 89

90 FR793092005 U.S. direct investment abroad 54.2 40.7 -45.5 22.4 -83.2 64.9 -80.6 -19.5 90

91 FR593052025 Insurance, pension, and standardized guarantee schemes -646.1 -413.6 37.5 -443.1 -793.3 -299.0 147.7 -297.4 91

92 FR794190085 Liabilities 2699.5 1929.1 -818.7 2338.2 3877.1 1580.1 -795.7 1941.0 92

93 FR793164105 Corporate equity issues 405.3 562.8 -460.4 737.9 1307.5 661.4 -260.5 798.2 93

94 FR653164205 Mutual fund shares 1474.9 837.2 -289.3 1035.8 1623.2 507.9 -350.1 693.7 94

95 FR793192005 Foreign direct investment in the United States 17.9 34.1 28.9 -2.2 -50.4 12.1 -21.3 16.1 95

96 FR662090205 Equity in noncorporate business 0.5 3.1 -1.3 0.7 6.0 1.2 -1.0 6.5 96

97 FR793194005 Investment by parent -0.6 -2.0 1.8 -0.1 0.0 0.0 0.0 0.0 97

98 FR583152005 Insurance, pension and standardized guarantee schemes 801.6 493.9 -98.4 566.1 990.8 397.5 -162.7 426.5 98

99 FR798200005 Changes in net worth due to nominal holding gains/losses 21.1 -411.4 537.6 -583.5 -1315.9 -289.2 -77.4 -736.0 99

 Changes in balance sheet account

100 FC792090095 Change in net worth (lines 30+33+78+99) -215.1 -371.9 571.1 -320.4 -1102.0 -353.1 49.6 -353.9 100

 Balance sheet account (end of period)

101 FL792000095 Total assets 71507.2 72970.3 74603.0 78798.0 84220.8 88036.6 88051.4 91844.6 101

102 LM795013865 Nonfinancial assets (5) 1588.6 1580.2 1621.2 1655.5 1711.9 1764.4 1823.8 1879.1 102

103 LM795013665 Structures (nonresidential) 971.3 963.9 986.3 992.0 1013.5 1033.8 1054.1 1078.3 103

104 LM795013265 Equipment 472.6 471.9 485.5 506.0 534.3 561.3 593.0 615.6 104

105 LM795013765 Intellectual property products 144.7 144.3 149.4 157.4 164.1 169.3 176.7 185.2 105

106 FL794090005 Financial assets 69918.5 71390.1 72981.8 77142.6 82508.9 86272.2 86227.6 89965.5 106

107 FL713011203 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 107

108 FL794000005 Currency and deposits 2336.4 2240.9 2748.2 2734.0 3526.9 3670.6 3161.0 2667.4 108
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2009 2010 2011 2012 2013 2014 2015 2016

 

109 FL794022005 Debt securities 18368.2 18678.3 19919.3 21217.0 21862.1 23103.5 23327.2 24532.0 109

110 FL793069175 Open market paper 874.4 702.5 626.4 633.8 638.3 583.9 603.0 521.5 110

111 FL793061105 Treasury securities 3667.8 4261.2 5312.4 5646.6 6044.2 6736.3 7065.6 7757.3 111

112 FL793061705 Agency- and GSE-backed securities (3) 5941.8 5547.9 5649.9 5867.9 6174.1 6332.7 6335.2 6652.1 112

113 FL793062005 Municipal securities 1739.6 1756.5 1818.8 1954.6 1875.9 1968.0 2027.7 2008.2 113

114 FL793063005 Corporate and foreign bonds 6144.7 6410.1 6511.8 7114.2 7129.5 7482.6 7295.8 7592.7 114

115 FL794035005 Loans 22464.3 21729.4 21725.6 22050.6 21986.4 22708.6 23355.4 24270.7 115

116 FL794041005 Short term 8494.5 8368.1 8690.4 9228.7 9170.6 9742.0 10018.2 10473.2 116

117 FL793065005 Long term (mortgages) 13969.8 13361.3 13035.2 12821.9 12815.8 12966.6 13337.2 13797.5 117

118 FL793081005 Equity and investment fund shares 18418.1 20133.8 19460.3 21938.1 25971.4 27529.7 27052.6 28722.5 118

119 LM793064105 Corporate equities 9625.6 11053.2 10542.1 12087.1 15306.0 16294.4 16040.2 17201.4 119

120 LM793064205 Mutual fund shares 3527.1 4017.7 3855.7 4292.4 5149.1 5385.7 5217.0 5358.7 120

121 FL793034005 Money market fund shares 1065.9 883.4 816.8 735.8 708.6 776.5 761.9 853.3 121

122 FL793092405 Equity in government-sponsored enterprises (3) 45.0 41.7 35.5 33.5 33.4 33.7 34.4 36.3 122

123 LM793092005 U.S. direct investment abroad 832.3 870.7 840.3 883.2 825.1 912.3 853.0 880.3 123

124 FL713164003 Stock in Federal Reserve Banks 25.6 26.5 26.9 27.4 27.5 28.6 29.5 30.4 124

125 FL793094005 Investment in subsidiaries 3296.6 3240.6 3343.0 3878.7 3921.8 4098.5 4116.6 4362.1 125

126 FL793052005 Insurance, pension and standardized guarantee schemes 4118.9 4516.0 4903.0 4728.0 4450.7 4452.9 4945.6 5033.2 126

127 FL793096005 Other accounts receivable 4201.6 4080.7 4214.4 4463.9 4700.4 4795.9 4374.8 4728.7 127

128 FL792100005 Total liabilities and net worth 71507.2 72970.3 74603.0 78798.0 84220.8 88036.6 88051.4 91844.6 128

129 FL794194005 Liabilities 70114.6 71949.6 73011.2 77526.6 84051.3 88220.2 88185.5 92332.6 129

130 FL794100005 Currency and deposits 11606.9 11964.9 13411.7 13981.6 15768.2 16722.6 16941.0 17394.5 130

131 FL794122005 Debt securities 14764.7 13739.2 13374.5 13122.5 13132.0 13257.4 13193.7 13529.0 131

132 FL423161705 Agency- and GSE-backed securities (3) 8083.3 7581.3 7559.2 7535.4 7773.7 7924.0 8144.4 8496.1 132

133 FL793163005 Corporate bonds 5920.9 5519.4 5276.5 5128.0 4979.8 5022.6 4779.1 4759.4 133

134 FL793169175 Commercial paper 760.5 638.5 538.8 459.1 378.4 310.7 270.2 273.5 134

135 FL794135005 Loans 4604.2 4530.4 4663.3 4911.8 4705.3 4887.8 4905.5 4957.4 135

136 FL794141005 Short term 4429.0 4354.3 4473.7 4717.4 4491.1 4656.4 4670.1 4721.0 136

137 FL643165005 Long term (mortgages) 175.3 176.1 189.5 194.4 214.3 231.4 235.4 236.5 137

138 FL793181005 Equity and investment fund shares 18451.0 19945.7 19607.1 22545.1 26075.5 28047.5 27848.4 29930.3 138

139 FL634090005 Money market fund shares 3315.9 2803.5 2691.0 2693.2 2717.8 2724.6 2754.7 2728.1 139

140 LM793164105 Corporate equity issues 3588.7 4345.9 4056.1 4958.2 6441.4 7338.4 7310.9 8354.3 140

141 LM653164205 Mutual fund shares 7796.7 9029.8 8941.4 10363.5 12333.0 13150.6 12897.2 13615.6 141

142 FL403192405 Equity in government-sponsored enterprises (3) 51.8 49.0 43.1 41.2 41.7 42.9 44.2 46.9 142

143 LM793192005 Foreign direct investment in the United States 407.0 489.6 561.9 581.1 560.5 597.8 615.1 710.5 143

144 LM662090205 Equity in noncorporate business 20.7 26.3 24.7 34.1 36.7 40.6 45.4 61.0 144

145 FL793194005 Investment by parent 3244.5 3175.0 3262.2 3846.4 3916.9 4123.9 4151.5 4383.5 145

146 FL713164003 Stock in Federal Reserve Banks 25.6 26.5 26.9 27.4 27.5 28.6 29.5 30.4 146

147 FL583152005 Insurance, pension and standardized guarantee schemes 18136.5 19810.4 20366.8 21434.8 23025.7 23854.2 24171.1 25190.6 147

148 FL793196005 Other accounts payable 2551.2 1958.9 1587.8 1530.7 1344.7 1450.7 1125.7 1330.8 148

149 FL792090095 Net worth 1392.6 1020.7 1591.8 1271.4 169.4 -183.7 -134.1 -488.0 149

(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 the fourth quarter of 2004.

(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 2.5 2.5 2.8 2.6 3.3 4.2 4.2 4.3 1

 2 FA716330085 Less: Consumption of fixed capital 0.8 0.8 0.8 0.8 0.8 0.8 0.9 0.9 2

 3 FA716902605 Equals: Net value added 1.7 1.7 2.0 1.8 2.5 3.3 3.4 3.4 3

 4 FA716025005 Compensation of employees (paid) 2.1 2.1 2.0 2.0 2.2 2.3 2.3 2.5 4

 5 FA716020001 Wages and salaries 1.8 1.8 1.8 1.8 1.9 2.0 2.1 2.2 5

 6 FA716401001 Employers’ social contributions 0.2 0.2 0.2 0.2 0.3 0.3 0.3 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 -0.4 -0.1 -0.2 0.3 1.1 1.0 0.9 8

 9 FA716140005 Net national income/Balance of primary incomes, net 47.3 71.7 76.6 72.4 80.6 104.4 101.6 94.0 9

10 FA716402101 Operating surplus, net -0.3 -0.4 -0.1 -0.2 0.3 1.1 1.0 0.9 10

11 FA716150105 Property income (received) 53.3 78.5 84.5 80.9 90.5 115.9 113.6 111.1 11

12 FA716130101 Interest 53.3 78.5 84.5 80.9 90.5 115.9 113.6 111.1 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) 5.7 6.4 7.9 8.4 10.2 12.6 13.1 18.0 15

16 FA716130001 Interest 4.3 4.8 6.3 6.7 8.6 11.0 11.3 17.3 16

17 FA716120005 Distributed income of corporations 1.4 1.6 1.6 1.6 1.6 1.7 1.7 0.7 17

18 FA716121001 Dividends 1.4 1.6 1.6 1.6 1.6 1.7 1.7 0.7 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 47.3 71.7 76.6 72.4 80.6 104.4 101.6 94.0 22

23 FA716220001 Less: Current taxes on income, wealth, etc. (paid) 47.4 79.3 75.4 88.4 79.6 96.9 117.1 91.5 23

24 FA716403001 Less: Other current transfers (paid) 0.9 1.1 1.4 1.6 1.8 1.9 1.9 2.0 24

25 FA716012005 Equals: Disposable income, net -1.1 -8.7 -0.3 -17.6 -0.9 5.6 -17.4 0.5 25

26 FA716012005 Equals: Net saving -1.1 -8.7 -0.3 -17.6 -0.9 5.6 -17.4 0.5 26

 Capital account

27 FA716006385 Net saving less capital transfers -1.1 -8.7 -0.3 -17.6 -0.9 5.6 -17.4 0.5 27

28 FA716012005 Net saving -1.1 -8.7 -0.3 -17.6 -0.9 5.6 -17.4 0.5 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 -0.0 -0.2 -0.2 0.0 -0.2 -0.1 -0.1 -0.1 30

31 FA715013085 Gross fixed capital formation (nonresidential) 0.8 0.7 0.6 0.8 0.6 0.8 0.8 0.8 31

32 FA716330085 Less: Consumption of fixed capital 0.8 0.8 0.8 0.8 0.8 0.8 0.9 0.9 32

33 FA715000995 Net lending (+) or borrowing (-), capital account (lines 27-30) -1.0 -8.5 -0.0 -17.7 -0.7 5.7 -17.3 0.6 33

 Financial account

34 FA715000995 Net lending (+) or borrowing (-) (line 33) -1.0 -8.5 -0.0 -17.7 -0.7 5.7 -17.3 0.6 34

35 FA714090005 Net acquisition of financial assets -4.5 185.5 493.6 9.7 1118.8 481.6 -13.3 -32.6 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 3.7 1.8 1.1 0.9 0.4 1.4 1.9 0.1 37

38 FA714022005 Debt securities 1349.2 316.3 444.0 64.5 1086.6 480.7 5.1 -20.8 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 300.7 244.9 642.0 2.7 542.6 252.6 0.2 2.1 40

41 FA713061705 Agency- and GSE-backed securities (2) 1048.5 71.4 -197.9 61.8 543.9 228.1 4.9 -22.8 41

42 FA714041005 Loans (short term) -1434.1 -151.4 32.2 -121.0 -9.1 1.2 -0.6 4.5 42

43 FA713064103 Equity shares 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 43

44 FA713096105 Other accounts receivable 51.5 17.5 42.7 65.3 40.9 -1.8 -19.7 -16.4 44

45 FA714190005 Net incurrence of liabilities -9.1 184.6 493.2 9.3 1118.7 480.6 5.3 -32.6 45

46 FA714100005 Currency and deposits -3.4 173.9 480.2 -2.0 900.1 296.0 -221.5 -50.1 46

47 FA712151003 Loans -10.6 -18.0 40.2 7.3 208.7 193.9 202.6 12.8 47

48 FA713164003 Equity shares (stock in Federal Reserve Banks) 4.6 0.9 0.4 0.5 0.1 1.1 0.9 1.0 48

49 FA713193005 Other accounts payable 0.4 27.8 -27.5 3.5 9.7 -10.4 23.3 3.7 49

 Addendum:

50 FA715000005 Net lending (+) or borrowing (-), financial account (lines 35-45) 4.6 0.9 0.4 0.5 0.1 1.1 -18.6 0.0 50
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2009 2010 2011 2012 2013 2014 2015 2016

 

 Other changes in volume account

51 FV718090185 Total other volume changes 5.6 9.4 0.4 18.1 0.8 -4.6 -1.3 -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) -5.6 -9.4 -0.4 -18.1 -0.8 4.6 1.3 0.6 54

 Revaluation account

55 FR712010095 Nonfinancial assets -0.4 0.0 0.3 0.1 0.3 0.2 0.1 0.1 55

56 FR715013665 Structures (nonresidential) -0.3 0.0 0.3 0.1 0.2 0.2 0.2 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 FR718200005 Changes in net worth due to nominal holding gains/losses -0.4 0.0 0.3 0.1 0.3 0.2 0.1 0.1 59

 Changes in balance sheet account

60 FC712090095 Change in net worth (lines 30+33+51+59) 4.2 0.8 0.5 0.6 0.2 1.2 -18.5 0.1 60

 Balance sheet account (end of period)

61 FL712000095 Total assets 2276.8 2462.1 2955.8 2965.6 4084.5 4566.2 4553.0 4520.5 61

62 LM712010095 Nonfinancial assets (4) 10.6 10.5 10.6 10.7 10.7 10.8 10.9 10.9 62

63 LM715013665 Structures (nonresidential) 7.8 7.7 7.8 7.8 7.9 8.0 8.0 8.1 63

64 LM715013265 Equipment 2.0 2.0 2.0 2.0 2.0 2.0 1.9 1.9 64

65 LM715013765 Intellectual property products 0.7 0.8 0.8 0.8 0.8 0.9 0.9 0.9 65

66 FL714090005 Financial assets 2266.2 2451.7 2945.2 2955.0 4073.8 4555.4 4542.1 4509.6 66

67 FL713011203 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 67

68 FL714000005 Currency and deposits 65.7 68.1 69.3 69.0 68.1 66.7 67.0 67.1 68

69 FL714022005 Debt securities 1844.8 2161.1 2605.1 2669.6 3756.2 4236.9 4242.0 4221.2 69

70 FL713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 70

71 FL713061103 Treasury securities 776.6 1021.5 1663.4 1666.1 2208.8 2461.4 2461.6 2463.6 71

72 FL713061705 Agency- and GSE-backed securities (2) 1068.3 1139.6 941.7 1003.4 1547.4 1775.5 1780.4 1757.6 72

73 FL714041005 Loans (short term) 249.7 98.4 130.5 9.5 0.4 1.7 1.1 5.6 73

74 FL713064103 Equity shares 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 74

75 FL713096105 Other accounts receivable 69.8 86.7 129.2 195.8 238.0 239.1 221.0 204.7 75

76 FL712100005 Total liabilities and net worth 2276.8 2462.1 2955.8 2965.6 4084.5 4566.2 4553.0 4520.5 76

77 FL714190005 Liabilities 2240.6 2425.1 2918.3 2927.6 4046.3 4526.8 4532.1 4499.6 77

78 FL714100005 Currency and deposits 2134.6 2308.6 2788.7 2786.7 3686.8 3982.8 3761.4 3711.3 78

79 FL712151003 Loans 77.7 59.7 99.9 107.2 315.9 509.8 712.4 725.2 79

80 FL713164003 Equity shares (stock in Federal Reserve Banks) 25.6 26.5 26.9 27.4 27.5 28.6 29.5 30.4 80

81 FL713193005 Other accounts payable 2.5 30.4 2.8 6.3 16.0 5.6 28.9 32.6 81

82 FL712090095 Net worth 36.2 37.0 37.5 38.0 38.2 39.4 20.9 20.9 82

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

 Current account

 1 FA706902505 Gross value added 282.1 261.2 238.5 274.2 289.9 300.8 343.5 384.2 1

 2 FA706300081 Less: Consumption of fixed capital 32.1 31.8 31.8 32.3 32.6 32.6 32.7 33.0 2

 3 FA706902605 Equals: Net value added 250.0 229.4 206.7 241.9 257.3 268.2 310.8 351.2 3

 4 FA706025005 Compensation of employees (paid) 147.3 151.0 158.8 167.5 170.8 169.6 180.3 181.8 4

 5 FA706020001 Wages and salaries 125.3 128.3 134.3 143.1 146.0 144.8 154.3 155.3 5

 6 FA706401001 Employers’ social contributions 22.0 22.7 24.5 24.4 24.8 24.8 26.0 26.5 6

 7 FA706240101 Taxes on production and imports less subsidies 9.4 9.4 9.6 10.0 10.4 11.0 11.6 12.1 7

 8 FA706402101 Operating surplus, net 93.3 69.0 38.3 64.4 76.1 87.6 118.9 157.3 8

 9 FA706140005 Net national income/Balance of primary incomes, net 178.7 180.7 124.6 117.5 133.7 119.3 124.1 142.5 9

10 FA706402101 Operating surplus, net 93.3 69.0 38.3 64.4 76.1 87.6 118.9 157.3 10

11 FA706150105 Property income (received) 410.6 412.5 380.9 346.9 320.8 306.9 317.7 327.2 11

12 FA706130101 Interest 393.7 388.7 357.1 326.6 299.1 287.9 298.9 311.3 12

13 FA706121101 Distributed income of corporations (dividends) 1.9 2.1 2.1 2.2 2.4 2.7 3.0 2.0 13

14 FA703092281 Reinvested earnings on U.S. direct investment abroad 15.0 21.7 21.7 18.1 19.3 16.3 15.8 13.9 14

15 FA706150005 Less: Uses of property income (paid) 325.2 300.8 294.6 293.8 263.2 275.2 312.5 342.0 15

16 FA706130001 Interest 277.0 243.9 212.4 191.9 173.8 179.5 203.7 234.5 16

17 FA706120005 Distributed income of corporations 47.3 54.1 77.9 96.2 84.0 89.9 104.4 102.7 17

18 FA706121001 Dividends 47.1 53.9 77.8 96.0 83.9 89.8 104.3 102.6 18

19 FA706122001 Withdrawals from income of quasi-corporations (1) 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.1 19

20 FA703192281 Reinvested earnings on foreign direct investment 0.9 2.8 4.3 5.7 5.4 5.8 4.4 4.8 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 178.7 180.7 124.6 117.5 133.7 119.3 124.1 142.5 22

23 FA706220001 Less: Current taxes on income, wealth, etc. (paid) 2.7 18.7 23.5 30.5 26.6 37.5 37.6 36.7 23

24 FA706403001 Less: Other current transfers (paid) 4.3 4.5 5.6 6.2 6.8 7.5 8.2 8.8 24

25 FA706012005 Equals: Disposable income, net 171.7 157.5 95.5 80.8 100.3 74.3 78.3 97.0 25

26 FA706012005 Equals: Net saving 171.7 157.5 95.5 80.8 100.3 74.3 78.3 97.0 26

 Capital account

27 FA706006385 Net saving less capital transfers 189.7 157.5 95.8 80.8 100.3 74.3 78.3 97.0 27

28 FA706012005 Net saving 171.7 157.5 95.5 80.8 100.3 74.3 78.3 97.0 28

29 FA705440083 Less: Capital transfers paid (net) -18.0 0.0 -0.3 0.0 0.0 0.0 0.0 0.0 29

30 FA705015085 Capital formation, net -0.1 -4.6 -5.0 -3.6 -5.8 -3.9 -3.2 -1.5 30

31 FA705013081 Gross fixed capital formation (nonresidential) 32.0 27.2 26.8 28.8 26.8 28.7 29.5 31.5 31

32 FA706300081 Less: Consumption of fixed capital 32.1 31.8 31.8 32.3 32.6 32.6 32.7 33.0 32

33 FA705000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 189.8 162.1 100.8 84.3 106.1 78.2 81.5 98.5 33

 Financial account

34 FA705000995 Net lending (+) or borrowing (-) (line 33) 189.8 162.1 100.8 84.3 106.1 78.2 81.5 98.5 34

35 FA704090005 Net acquisition of financial assets -662.5 -216.0 800.5 509.1 945.8 986.2 539.2 742.0 35

36 FA704000005 Currency and deposits 158.5 8.0 584.6 -61.5 730.3 149.5 -389.5 -209.7 36

37 FA703025005 Vault cash -2.8 -2.2 8.1 7.1 2.6 2.0 -1.4 1.7 37

38 FA713113003 Reserves at the Federal Reserve 160.9 11.7 578.4 -69.7 730.9 148.9 -387.6 -211.0 38

39 FA403197033 Deposits at Federal Home Loan Banks 0.4 -1.5 -1.8 1.2 -3.2 -1.5 -0.5 -0.4 39

40 FA704022005 Debt securities 105.7 119.8 138.0 190.2 46.4 216.7 203.3 271.0 40

41 FA703069175 Open market paper -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

42 FA703061105 Treasury securities 94.9 102.4 -46.7 86.6 -35.1 195.4 36.8 105.5 42

43 FA703061705 Agency- and GSE-backed securities (2) 173.4 133.9 133.6 49.7 42.4 26.2 155.2 131.3 43

44 FA703062005 Municipal securities 3.4 29.3 46.8 68.0 55.1 31.0 47.4 50.6 44

45 FA703063005 Corporate and foreign bonds -150.3 -145.9 4.3 -14.0 -16.0 -35.9 -36.0 -16.4 45

46 FA704035005 Loans -965.5 -270.8 140.1 402.4 153.8 564.5 706.8 593.2 46

47 FA704041005 Short term -786.1 -113.6 245.9 380.7 164.8 414.6 451.1 296.9 47

48 FA703065005 Long term (mortgages) -179.4 -157.2 -105.8 21.7 -11.0 149.9 255.7 296.2 48

49 FA703081005 Equity and investment fund shares 24.2 -7.5 -10.7 -14.6 1.4 2.5 -2.7 -12.4 49

50 FA703064105 Corporate equities 6.3 -1.7 0.9 -10.5 0.8 0.7 2.0 -6.9 50

51 FA703064205 Mutual fund shares 13.8 -6.1 -0.4 -0.9 1.1 -0.9 -1.0 -1.9 51

52 FA703092405 Equity in government-sponsored enterprises (2) 0.3 -3.2 -5.4 -2.1 -1.1 -0.0 -0.9 2.0 52

53 FA763092000 U.S. direct investment abroad -0.8 2.7 -6.2 -1.6 0.4 1.6 -3.6 -6.5 53

54 FA713164003 Stock in Federal Reserve Banks 4.6 0.9 0.4 0.5 0.1 1.1 0.9 1.0 54

55 FA763040005 Insurance, pension and standardized guarantee schemes 0.8 4.5 5.2 7.4 5.7 5.9 6.5 5.6 55

56 FA703093005 Other accounts receivable 14.0 -70.0 -56.7 -14.8 8.1 47.1 14.8 94.3 56
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2009 2010 2011 2012 2013 2014 2015 2016

 

57 FA704190005 Net incurrence of liabilities -256.4 -131.1 851.6 572.7 874.5 1052.9 526.6 714.4 57

58 FA704100005 Currency and deposits 394.6 199.3 977.0 599.0 898.1 650.8 438.8 497.0 58

59 FA703127005 Checkable deposits 109.7 81.3 356.7 205.6 193.1 198.8 87.8 119.9 59

60 FA703130205 Other deposits 284.9 118.0 620.3 393.4 705.0 452.0 351.0 377.2 60

61 FA704122005 Debt securities -28.3 -69.3 10.0 -115.4 -102.7 -17.2 -9.3 -21.4 61

62 FA763163005 Corporate bonds -28.5 -49.2 2.4 -82.3 -74.9 -12.0 -8.4 -16.9 62

63 FA703169175 Commercial paper 0.1 -20.2 7.6 -33.1 -27.8 -5.2 -0.9 -4.5 63

64 FA704141005 Loans (short term) -875.5 -239.0 -89.8 -26.6 -17.6 92.0 35.6 102.2 64

65 FA703181105 Equity and investment fund shares 121.4 26.1 74.8 88.7 67.7 182.0 55.8 115.5 65

66 FA763164103 Corporate equity issues 11.6 11.9 6.4 1.6 2.2 2.7 9.5 4.6 66

67 FA753192003 Foreign direct investment in the United States 16.6 12.4 26.0 -2.3 8.8 3.7 2.0 6.0 67

68 FA703194005 Investment by parent 93.2 1.8 42.4 89.4 56.7 175.6 44.3 104.9 68

69 FA703196005 Other accounts payable 131.4 -48.2 -120.4 27.0 28.9 145.2 5.7 21.1 69

 Addendum:

70 FA705000005 Net lending (+) or borrowing (-), financial account (lines 35-57) -406.0 -84.9 -51.1 -63.6 71.3 -66.7 12.6 27.5 70

 Other changes in volume account

71 FV708090185 Total other volume changes -803.1 -280.6 -181.2 -296.5 -73.6 -148.2 -61.2 -86.8 71

72 FV702010095 Disaster losses 0.0 0.0 0.0 -0.5 0.0 0.0 0.0 0.0 72

73 FV708090085 Other volume changes -207.3 -33.6 -29.3 -148.1 -38.8 -3.3 7.7 -15.9 73

74 FU707005045 Less: Statistical discrepancy (lines 33-70) (3) 595.8 247.0 151.9 147.9 34.8 144.9 68.9 71.0 74

 Revaluation account

75 FR702010095 Nonfinancial assets -29.1 -8.7 9.8 3.6 9.0 4.4 3.9 3.5 75

76 FR705013665 Structures (nonresidential) -16.2 -1.5 9.1 3.8 8.0 6.2 5.1 4.3 76

77 FR705013265 Equipment -7.5 -3.6 0.8 -0.1 0.9 -1.7 -1.0 -0.5 77

78 FR705013765 Intellectual property products -5.4 -3.5 -0.0 -0.1 0.1 -0.1 -0.2 -0.3 78

79 FR703081085 Financial assets 96.7 32.4 -11.2 26.1 31.2 -4.9 -27.8 12.8 79

80 FR703064105 Corporate equities 23.5 11.7 -7.2 14.4 29.1 6.6 -10.5 13.4 80

81 FR703064205 Mutual fund shares 12.2 4.9 -2.6 5.5 10.9 2.6 -3.9 5.1 81

82 FR763092000 U.S. direct investment abroad 61.0 15.7 -1.4 6.1 -8.8 -14.1 -13.3 -5.7 82

83 FR703181105 Liabilities 5.6 59.5 -138.8 189.1 212.4 63.4 -11.5 202.3 83

84 FR763164103 Corporate equity issues -13.8 59.5 -169.3 157.6 212.2 84.0 -5.0 211.1 84

85 FR753192003 Foreign direct investment in the United States 19.5 -0.1 30.5 31.6 0.2 -20.6 -6.6 -8.8 85

86 FR703194005 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 86

87 FR708200005 Changes in net worth due to nominal holding gains/losses 61.9 -35.7 137.3 -159.5 -172.1 -64.0 -12.3 -186.0 87

 Changes in balance sheet account

88 FC702090095 Change in net worth (lines 30+33+71+87) -551.5 -158.8 52.0 -375.2 -145.5 -137.9 4.8 -175.8 88

 Balance sheet account (end of period)

89 FL702000095 Total assets 13893.7 14011.3 14859.5 15274.6 16165.6 17160.3 17659.1 18392.1 89

90 LM702010095 Nonfinancial assets (4) 374.2 371.4 376.7 377.4 381.3 384.5 387.9 392.2 90

91 LM705013665 Structures (nonresidential) 262.7 261.3 267.9 269.0 274.5 280.1 284.1 288.6 91

92 LM705013265 Equipment 92.1 90.9 89.4 87.8 86.3 83.1 81.1 79.5 92

93 LM705013765 Intellectual property products 19.5 19.1 19.4 20.6 20.5 21.3 22.7 24.1 93

94 FL704090005 Financial assets 13519.5 13639.9 14482.7 14897.2 15784.3 16775.8 17271.2 18000.0 94

95 FL704000005 Currency and deposits 1023.5 1031.5 1616.1 1557.8 2288.1 2437.5 2048.0 1838.3 95

96 FL703025005 Vault cash 54.9 52.7 60.8 71.1 73.6 75.7 74.2 76.0 96

97 FL713113003 Reserves at the Federal Reserve 952.7 964.4 1542.7 1473.0 2203.9 2352.8 1965.2 1754.2 97

98 FL403197033 Deposits at Federal Home Loan Banks 15.9 14.4 12.6 13.7 10.6 9.1 8.5 8.1 98

99 FL704022005 Debt securities 2970.7 3070.7 3208.7 3398.9 3445.3 3662.1 3865.4 4136.4 99

100 FL703069175 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100

101 FL703061105 Treasury securities 197.2 299.6 252.9 339.5 304.4 499.8 536.6 642.1 101

102 FL703061705 Agency- and GSE-backed securities (2) 1584.4 1718.1 1851.7 1901.3 1943.8 1970.0 2125.2 2256.5 102

103 FL703062005 Municipal securities 227.8 257.1 303.9 371.9 427.0 458.0 505.4 556.0 103

104 FL703063005 Corporate and foreign bonds 961.3 795.9 800.2 786.2 770.2 734.2 698.2 681.9 104

105 FL704035005 Loans 8135.6 8243.2 8342.3 8707.1 8841.6 9395.1 10094.1 10681.9 105

106 FL704041005 Short term 3366.6 3660.2 3906.1 4284.7 4449.5 4863.9 5315.0 5611.9 106

107 FL703065005 Long term (mortgages) 4768.9 4583.0 4436.2 4422.4 4392.1 4531.1 4779.1 5070.0 107
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2009 2010 2011 2012 2013 2014 2015 2016

 

108 FL703081005 Equity and investment fund shares 440.7 465.6 443.7 455.1 487.7 485.3 454.8 455.2 108

109 LM703064105 Corporate equities 63.6 73.6 67.4 71.3 101.3 108.5 100.0 106.5 109

110 LM703064205 Mutual fund shares 47.7 46.5 43.5 48.1 60.1 61.8 56.8 60.0 110

111 FL703092405 Equity in government-sponsored enterprises (2) 42.1 38.9 33.4 31.3 30.2 30.2 29.2 31.3 111

112 LM763092000 U.S. direct investment abroad 261.7 280.1 272.5 277.0 268.6 256.2 239.3 227.1 112

113 FL713164003 Stock in Federal Reserve Banks 25.6 26.5 26.9 27.4 27.5 28.6 29.5 30.4 113

114 FL763040005 Insurance, pension and standardized guarantee schemes 111.5 116.0 125.5 138.0 143.8 149.6 156.2 161.8 114

115 FL703093005 Other accounts receivable 837.5 712.9 746.5 640.2 577.8 646.2 652.7 726.3 115

116 FL702100005 Total liabilities and net worth 13893.7 14011.3 14859.5 15274.6 16165.6 17160.3 17659.1 18392.1 116

117 FL704194005 Liabilities 14207.9 14484.3 15280.5 16070.8 17107.4 18240.0 18734.0 19642.9 117

118 FL704100005 Currency and deposits 9376.4 9571.6 10548.5 11119.7 12017.8 12668.6 13107.3 13604.4 118

119 FL703127005 Checkable deposits 990.7 1072.0 1428.6 1629.2 1822.3 2021.2 2108.9 2228.8 119

120 FL703130205 Other deposits 8385.7 8499.6 9119.9 9490.4 10195.4 10647.4 10998.4 11375.6 120

121 FL704122005 Debt securities 177.0 490.1 500.1 383.4 280.7 263.5 254.2 232.8 121

122 FL763163005 Corporate bonds 176.3 377.1 379.4 295.9 221.0 209.0 200.6 183.7 122

123 FL703169175 Commercial paper 0.6 113.0 120.6 87.5 59.7 54.5 53.6 49.0 123

124 FL704141005 Loans (short term) 1392.2 1153.2 1063.3 1036.8 1019.2 1111.2 1146.9 1249.1 124

125 FL703181105 Equity and investment fund shares 2475.9 2561.5 2497.6 2854.4 3123.3 3368.8 3413.1 3730.9 125

126 LM763164103 Corporate equity issues 565.6 637.1 474.1 633.3 847.7 934.4 938.9 1154.6 126

127 LM753192003 Foreign direct investment in the United States 107.7 120.0 176.6 205.9 214.9 198.0 193.4 190.7 127

128 FL703194005 Investment by parent 1802.6 1804.4 1846.8 2015.2 2060.8 2236.4 2280.7 2385.6 128

129 FL703196005 Other accounts payable 786.4 708.0 671.0 676.6 666.4 827.9 812.5 825.7 129

130 FL702090095 Net worth -314.2 -473.0 -421.0 -796.3 -941.8 -1079.7 -1074.9 -1250.8 130

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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2009 2010 2011 2012 2013 2014 2015 2016

 

 Current account

 1 FA526902505 Gross value added 285.7 269.2 253.2 268.7 260.8 327.5 428.0 438.1 1

 2 FA526300081 Less: Consumption of fixed capital 27.6 27.4 27.0 27.7 29.6 31.2 32.9 35.0 2

 3 FA526902605 Equals: Net value added 258.1 241.9 226.2 241.0 231.2 296.2 395.1 403.0 3

 4 FA526025005 Compensation of employees (paid) 116.0 118.7 127.2 132.2 133.7 138.2 143.2 143.1 4

 5 FA526020001 Wages and salaries 97.4 99.5 107.1 112.1 113.3 117.5 121.8 121.3 5

 6 FA526401001 Employers’ social contributions 18.6 19.1 20.1 20.1 20.3 20.7 21.4 21.7 6

 7 FA526240101 Taxes on production and imports less subsidies 22.1 22.3 23.1 23.7 25.4 34.9 39.6 41.6 7

 8 FA526402101 Operating surplus, net 120.0 100.9 75.8 85.1 72.2 123.1 212.4 218.3 8

 9 FA526140005 Net national income/Balance of primary incomes, net 55.6 65.2 23.3 12.9 11.7 59.9 128.9 131.4 9

10 FA526402101 Operating surplus, net 120.0 100.9 75.8 85.1 72.2 123.1 212.4 218.3 10

11 FA526150105 Property income (received) 273.1 287.3 266.3 264.4 277.5 278.6 255.6 246.6 11

12 FA526130101 Interest 251.5 248.0 241.7 238.1 248.4 249.9 228.1 218.5 12

13 FA526121101 Distributed income of corporations (dividends) 12.2 27.9 13.0 15.5 16.2 17.1 16.9 17.7 13

14 FA523092281 Reinvested earnings on U.S. direct investment abroad 9.3 11.4 11.5 10.8 12.9 11.6 10.6 10.4 14

15 FA526150005 Less: Uses of property income (paid) 337.5 323.1 318.8 336.7 338.0 341.8 339.0 333.6 15

16 FA526130001 Interest 325.7 304.6 302.8 311.3 312.8 319.4 317.5 308.8 16

17 FA526120005 Distributed income of corporations 11.3 17.1 13.6 22.6 23.2 19.9 19.4 20.8 17

18 FA526121001 Dividends 5.4 13.5 10.8 19.1 18.4 15.1 15.0 16.4 18

19 FA526122001 Withdrawals from income of quasi-corporations (1) 5.9 3.7 2.8 3.5 4.9 4.8 4.4 4.5 19

20 FA523192281 Reinvested earnings on foreign direct investment 0.4 1.3 2.4 2.9 2.0 2.5 2.1 3.9 20

21 FA526112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA526140005 Net national income/Balance of primary incomes, net 55.6 65.2 23.3 12.9 11.7 59.9 128.9 131.4 22

23 FA526220001 Less: Current taxes on income, wealth, etc. (paid) 25.0 28.9 23.0 29.1 33.8 38.6 41.7 30.0 23

24 FA526403001 Less: Other current transfers (paid) -4.9 -8.4 -13.9 -67.8 -63.8 -39.1 -2.3 12.8 24

25 FA526012005 Equals: Disposable income, net 35.4 44.7 14.3 51.5 41.7 60.4 89.4 88.5 25

26 FA526012005 Equals: Net saving 35.4 44.7 14.3 51.5 41.7 60.4 89.4 88.5 26

 Capital account

27 FA526006385 Net saving less capital transfers 40.9 44.7 14.3 37.1 41.7 60.4 89.4 88.5 27

28 FA526012005 Net saving 35.4 44.7 14.3 51.5 41.7 60.4 89.4 88.5 28

29 FA525440083 Less: Capital transfers paid (net) -5.5 0.0 0.0 14.3 0.0 0.0 0.0 0.0 29

30 FA525015085 Capital formation, net 0.1 -4.3 -2.4 -0.2 3.4 1.0 7.1 8.0 30

31 FA525013081 Gross fixed capital formation (nonresidential) 27.7 23.1 24.7 27.5 33.0 32.2 39.9 43.1 31

32 FA526300081 Less: Consumption of fixed capital 27.6 27.4 27.0 27.7 29.6 31.2 32.9 35.0 32

33 FA525000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 40.8 49.0 16.6 37.3 38.3 59.5 82.3 80.5 33

 Financial account

34 FA525000995 Net lending (+) or borrowing (-) (line 33) 40.8 49.0 16.6 37.3 38.3 59.5 82.3 80.5 34

35 FA524090005 Net acquisition of financial assets -5.5 197.8 192.7 87.0 108.7 157.3 176.7 176.4 35

36 FA523020005 Currency and deposits -32.5 5.9 -6.4 12.6 -14.9 10.9 6.1 -14.6 36

37 FA524022005 Debt securities 103.9 139.9 76.3 40.2 114.6 92.8 105.2 183.5 37

38 FA523069105 Open market paper 3.1 -10.9 -11.2 16.1 10.4 -8.3 -6.6 12.6 38

39 FA523061105 Treasury securities 50.5 23.9 14.9 -2.9 -7.5 20.3 5.4 31.1 39

40 FA523061705 Agency- and GSE-backed securities (2) 21.3 0.7 -0.6 -25.9 -12.6 -13.1 -9.2 15.2 40

41 FA523062005 Municipal securities -7.7 11.7 -28.9 -1.0 8.9 -7.7 16.7 9.7 41

42 FA523063005 Corporate and foreign bonds 36.8 114.5 102.1 53.9 115.4 101.5 98.9 114.8 42

43 FA524035005 Loans -27.0 -8.9 17.3 15.8 19.1 31.6 43.2 39.2 43

44 FA524041005 Short term -10.1 0.0 1.5 3.2 -2.0 8.0 -0.9 2.1 44

45 FA523065005 Long term (mortgages) -16.8 -8.9 15.8 12.6 21.1 23.6 44.2 37.1 45

46 FA523081005 Equity and investment fund shares 34.2 21.5 34.9 6.3 -24.9 -43.4 6.8 -83.9 46

47 FA523064105 Corporate equities -2.2 4.6 17.4 1.9 -8.8 -1.6 30.0 102.3 47

48 FA523064205 Mutual fund shares 43.5 61.6 11.0 2.4 -18.2 -52.4 -33.9 -170.6 48

49 FA523034005 Money market fund shares -24.7 -24.2 3.0 -4.2 -13.6 2.1 5.8 -19.5 49

50 FA523092405 Equity in government-sponsored enterprises (2) -0.3 -0.1 -0.8 0.1 0.9 0.1 0.5 0.4 50

51 FA523092005 U.S. direct investment abroad 17.9 -20.4 4.4 6.3 14.8 8.3 4.5 3.4 51

52 FA543077073 Insurance, pension and standardized guarantee schemes -4.9 2.6 -0.5 0.6 3.0 1.2 1.7 -0.3 52

53 FA523096005 Other accounts receivable -79.2 36.8 71.2 11.5 11.9 64.2 13.7 52.7 53

54 FA524190005 Net incurrence of liabilities -14.5 139.3 178.5 77.6 111.8 90.3 109.3 130.3 54

55 FA673090543 Currency and deposits (funding agreements) -34.3 -9.7 -8.5 -0.4 -8.5 9.2 1.6 6.9 55

56 FA524141005 Loans (short term) -6.6 -4.8 5.1 4.9 8.7 2.5 6.2 9.9 56
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2009 2010 2011 2012 2013 2014 2015 2016

 

57 FA523181105 Equity and investment fund shares 16.6 13.9 -20.5 -11.1 -12.4 -28.7 -10.3 17.8 57

58 FA523164105 Corporate equity issues -6.2 -17.5 -22.3 -24.5 -16.8 -31.8 -32.0 -25.3 58

59 FA523192005 Foreign direct investment in the United States 13.5 9.1 -7.5 9.9 12.0 2.3 22.0 42.1 59

60 FA523194735 Investment by parent 9.3 22.2 9.3 3.5 -7.6 0.9 -0.3 1.0 60

61 FA523152005 Insurance, pension and standardized guarantee schemes 90.9 146.0 209.7 40.2 72.7 74.8 134.3 101.0 61

62 FA523196105 Other accounts payable -81.1 -6.0 -7.3 44.0 51.4 32.4 -22.5 -5.3 62

 Addendum:

63 FA525000005 Net lending (+) or borrowing (-), financial account (lines 35-54) 9.0 58.5 14.2 9.4 -3.1 67.0 67.5 46.1 63

 Other changes in volume account

64 FV528090185 Total other volume changes -32.0 9.1 -2.7 -45.3 -42.1 8.6 -14.6 -32.2 64

65 FV522010095 Disaster losses 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 65

66 FV528090085 Other volume changes -0.3 -0.4 -0.2 -17.2 -0.7 1.1 0.2 2.3 66

67 FU527005045 Less: Statistical discrepancy (lines 33-63) (3) 31.8 -9.5 2.4 27.9 41.4 -7.5 14.9 34.4 67

 Revaluation account

68 FR522010095 Nonfinancial assets -8.4 0.2 5.7 2.1 5.3 2.8 2.1 1.6 68

69 FR525013665 Structures (nonresidential) -7.3 0.2 5.1 2.2 4.7 3.5 2.9 2.4 69

70 FR525013265 Equipment -0.7 0.2 0.5 -0.0 0.3 -0.5 -0.4 -0.3 70

71 FR525013765 Intellectual property products -0.4 -0.2 0.0 -0.1 0.3 -0.1 -0.4 -0.6 71

72 FR524090085 Financial assets 630.1 295.4 149.8 296.5 158.5 273.5 -248.4 168.3 72

73 FR524022005 Debt securities 322.4 131.2 195.7 80.6 -202.2 144.8 -163.8 26.2 73

74 FR523064105 Corporate equities 83.3 24.3 2.7 52.2 110.7 33.8 -19.2 40.0 74

75 FR523064205 Mutual fund shares 217.2 126.7 -43.1 146.8 257.0 84.1 -38.4 101.2 75

76 FR523092005 U.S. direct investment abroad 7.2 13.1 -5.4 16.9 -6.9 10.8 -26.9 0.9 76

77 FR524190085 Liabilities 314.8 207.6 -61.7 230.7 365.5 195.4 -78.5 191.8 77

78 FR523164105 Corporate equity issues 49.4 42.5 -61.5 79.5 122.2 59.1 -11.0 66.8 78

79 FR523192005 Foreign direct investment in the United States 9.1 11.9 30.0 -23.9 -43.2 15.3 -7.3 11.5 79

80 FR523194735 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 FR523152005 Insurance, pension and standardized guarantee schemes 256.3 153.2 -30.2 175.2 286.5 121.1 -60.3 113.6 81

82 FR528200005 Changes in net worth due to nominal holding gains/losses 306.9 88.0 217.2 67.8 -201.8 80.9 -167.7 -22.0 82

 Changes in balance sheet account

83 FC522090095 Change in net worth (lines 30+33+64+82) 315.8 141.9 228.8 59.7 -202.2 149.9 -92.9 34.4 83

 Balance sheet account (end of period)

84 FL522000095 Total assets 6689.7 7178.4 7524.1 7910.2 8185.4 8621.0 8558.8 8947.2 84

85 LM522010095 Nonfinancial assets (4) 241.6 237.2 240.3 242.9 250.8 255.7 265.1 275.2 85

86 LM525013665 Structures (nonresidential) 151.7 149.6 152.3 152.1 155.1 158.2 163.3 169.3 86

87 LM525013265 Equipment 47.3 46.3 46.2 46.4 47.4 47.1 47.5 48.0 87

88 LM525013765 Intellectual property products 42.6 41.3 41.8 44.4 48.3 50.4 54.3 58.0 88

89 FL524090005 Financial assets 6448.1 6941.3 7283.8 7667.3 7934.6 8365.4 8293.7 8672.0 89

90 FL523020005 Currency and deposits 78.4 84.3 85.1 97.7 82.7 93.7 99.7 96.0 90

91 LM524022005 Debt securities 3458.9 3730.0 4006.7 4127.6 4039.9 4277.5 4218.9 4434.9 91

92 LM523069105 Open market paper 61.2 50.3 40.3 56.3 66.8 58.5 51.9 64.5 92

93 LM523061105 Treasury securities 222.9 254.0 300.0 292.7 269.5 304.9 304.3 327.7 93

94 LM523061705 Agency- and GSE-backed securities (2) 501.6 506.4 534.0 513.1 475.8 494.2 467.1 470.4 94

95 LM523062005 Municipal securities 457.6 469.6 490.4 487.5 481.6 504.0 517.0 517.5 95

96 LM523063005 Corporate and foreign bonds 2215.6 2449.7 2642.0 2778.0 2746.3 2915.9 2878.6 3054.7 96

97 FL524035005 Loans 486.8 477.9 495.1 510.9 530.0 561.6 604.8 644.0 97

98 FL524041005 Short term 156.2 156.2 157.7 160.9 158.8 166.9 166.0 168.0 98

99 FL523065005 Long term (mortgages) 330.6 321.7 337.4 350.1 371.1 394.7 438.9 476.0 99

100 FL523081005 Equity and investment fund shares 1800.5 1986.1 1975.8 2198.0 2533.8 2619.1 2541.3 2599.5 100

101 LM523064105 Corporate equities 411.9 440.8 460.9 514.9 616.8 649.0 659.9 802.2 101

102 LM523064205 Mutual fund shares 1124.3 1312.6 1280.6 1429.8 1668.5 1700.2 1627.8 1558.4 102

103 FL523034005 Money market fund shares 108.8 84.6 87.9 83.7 70.1 72.2 78.0 58.6 103

104 FL523092405 Equity in government-sponsored enterprises (2) 2.9 2.8 2.0 2.1 3.0 3.1 3.5 3.9 104

105 LM523092005 U.S. direct investment abroad 152.7 145.4 144.4 167.6 175.4 194.5 172.0 176.4 105

106 FL543077073 Insurance, pension and standardized guarantee schemes 22.9 25.5 25.0 25.7 28.7 29.9 31.6 31.3 106

107 FL523096005 Other accounts receivable 600.7 637.4 696.0 707.5 719.4 783.6 797.3 866.3 107
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2009 2010 2011 2012 2013 2014 2015 2016

 

108 FL522100005 Total liabilities and net worth 6689.7 7178.4 7524.1 7910.2 8185.4 8621.0 8558.8 8947.2 108

109 FL524194005 Liabilities 5895.3 6242.2 6359.1 6685.5 7162.8 7448.5 7479.2 7833.2 109

110 FL673090543 Currency and deposits (funding agreements) 80.0 70.4 61.9 61.5 53.0 62.2 63.8 70.7 110

111 FL524141005 Loans (short term) 60.7 55.9 61.0 65.9 74.6 77.0 83.3 93.2 111

112 FL523181105 Equity and investment fund shares 570.5 638.7 586.8 584.1 645.8 691.5 662.9 759.0 112

113 LM523164105 Corporate equity issues 396.0 420.9 337.2 392.2 497.6 524.9 481.9 523.4 113

114 LM523192005 Foreign direct investment in the United States 134.1 155.0 177.5 163.4 132.2 149.7 164.4 218.0 114

115 FL523194735 Investment by parent 40.5 62.7 72.0 28.4 15.9 16.8 16.6 17.6 115

116 FL523152005 Insurance, pension and standardized guarantee schemes 4814.4 5113.6 5293.1 5508.5 5867.7 6063.6 6137.6 6369.7 116

117 FL523196105 Other accounts payable 369.7 363.7 356.4 465.5 521.7 554.2 531.7 540.7 117

118 FL522090095 Net worth 794.4 936.2 1165.0 1224.8 1022.6 1172.5 1079.6 1114.0 118

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

 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) 489.4 476.5 482.6 504.7 520.9 521.4 547.6 569.9 11

12 FA596130101 Interest 371.3 360.9 366.2 375.4 378.3 367.7 385.4 404.2 12

13 FA596121101 Distributed income of corporations (dividends) 118.0 115.6 116.4 129.3 142.6 153.7 162.2 165.7 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) 489.4 476.5 482.6 504.7 520.9 521.4 547.6 569.9 15

16 FA596130001 Interest 371.3 360.9 366.2 375.4 378.3 367.7 385.4 404.2 16

17 FA596120005 Distributed income of corporations 118.0 115.6 116.4 129.3 142.6 153.7 162.2 165.7 17

18 FA596121001 Dividends 118.0 115.6 116.4 129.3 142.6 153.7 162.2 165.7 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 1183.2 1206.1 1227.0 1269.9 1310.1 1341.9 1393.1 1443.6 35

36 FA596403125 Claims to pension benefits 697.3 734.2 749.1 770.3 794.9 826.6 852.0 880.5 36

37 FA596403133 Actual employer contributions 467.0 503.5 525.8 539.1 549.2 559.9 593.7 614.4 37

38 FA596403143 Imputed employer contributions -22.9 -30.1 -51.5 -59.1 -61.7 -61.2 -82.3 -91.1 38

39 FA596403153 Actual household contributions 271.0 280.5 295.2 311.9 330.4 353.4 368.2 386.1 39

40 FA596403013 Less: pension service charges for defined benefit (DB) plans 17.9 19.7 20.3 21.6 23.0 25.5 27.6 28.9 40

41 FA596403163 Household pension contribution supplements 489.4 476.5 482.6 504.7 520.9 521.4 547.6 569.9 41

42 FA596403023 Less: pension service charge for defined contribution (DC) plans 3.4 4.5 4.8 5.1 5.7 6.1 6.4 6.9 42

43 FA596403033 Less: benefit payments and withdrawals 762.2 831.7 864.7 945.5 1052.2 1110.4 1190.1 1275.0 43

44 FA596403043 Less: net change in benefit entitlements from DB plans 231.4 221.7 207.2 177.2 130.9 111.3 108.8 100.4 44

45 FA596403053 Less: net change in assets from current transaction for DC plans 189.6 152.7 155.1 147.2 126.9 120.1 94.2 68.2 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 544.9 530.9 403.6 440.5 456.5 308.4 268.5 399.3 47

48 FA594000005 Currency and deposits 4.7 1.0 7.4 1.5 9.7 6.8 -1.0 12.6 48

49 FA593020005 Currency and transferable deposits 2.2 1.7 5.3 3.8 3.7 5.6 4.2 13.1 49

50 FA593030005 Time and savings deposits 2.6 -0.7 2.0 -2.3 6.1 1.2 -5.2 -0.5 50

51 FA594022005 Debt securities 97.1 184.7 92.7 251.4 237.4 238.3 78.4 177.0 51

52 FA593069105 Open market paper 0.7 3.3 2.4 -1.9 10.2 0.6 -4.3 12.7 52

53 FA593061105 Treasury securities 114.9 126.6 110.1 146.0 123.2 116.1 55.2 128.8 53

54 FA593061705 Agency- and GSE-backed securities (2) -78.4 14.0 -52.2 -8.8 -5.5 16.2 -12.2 18.3 54

55 FA593062045 Municipal securities 0.1 0.6 -0.5 0.1 0.9 -0.2 0.0 -0.5 55

56 FA593063005 Corporate and foreign bonds 59.9 40.1 33.0 116.1 108.6 105.5 39.7 17.6 56
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57 FA594035005 Loans -4.5 2.9 -3.3 -1.1 -3.7 3.4 -2.3 0.8 57

58 FA592051005 Short term -0.2 0.0 -0.0 -0.1 0.8 0.1 -0.4 1.1 58

59 FA593065005 Long term (mortgages) -4.4 2.9 -3.3 -1.1 -4.6 3.3 -1.9 -0.3 59

60 FA593081005 Equity and investment fund shares -107.7 16.4 -49.4 -73.5 -251.5 -215.3 -48.3 -157.7 60

61 FA593064105 Corporate equities -148.1 -22.7 -19.7 -46.3 -416.6 -270.1 -41.6 -183.2 61

62 FA593064205 Mutual fund shares 58.6 49.3 -43.1 -12.8 146.6 56.3 -2.8 12.5 62

63 FA593034005 Money market fund shares -18.2 -10.3 13.4 -14.3 18.5 -1.5 -3.9 12.9 63

64 FA593052025 Insurance, pension and standardized guarantee schemes 525.5 296.6 296.4 226.7 431.2 241.3 255.6 300.3 64

65 FA593093005 Other accounts receivable 29.9 29.4 59.8 35.5 33.5 33.9 -14.0 66.4 65

66 FA594190005 Net incurrence of liabilities (pension entitlements) 544.9 530.9 403.5 440.6 456.4 308.3 268.3 399.1 66

 Addendum:

67 FA595000005 Net lending (+) or borrowing (-), financial account (lines 47-66) 0.1 0.1 0.1 -0.2 0.1 0.1 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 0.0 0.0 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 -0.1 -0.1 -0.1 0.2 -0.1 -0.1 -0.2 -0.1 70

71 FU597005045 Less: Statistical discrepancy (lines 33-67) (3) -0.1 -0.1 -0.1 0.2 -0.1 -0.1 -0.2 -0.1 71

 Revaluation account

72 FR592010095 Nonfinancial assets -0.3 0.0 0.2 0.1 0.2 0.1 0.1 0.1 72

73 FR595013665 Structures (nonresidential) -0.3 0.0 0.2 0.1 0.2 0.2 0.1 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 533.6 338.6 -72.3 377.2 683.0 266.3 -87.9 315.2 76

77 FR594022005 Debt securities 30.2 28.2 50.5 26.0 -106.8 47.6 -56.9 0.5 77

78 FR593064105 Corporate equities 686.2 470.0 -76.4 498.6 1123.8 370.8 -90.1 416.6 78

79 FR593064205 Mutual fund shares 463.2 254.1 -83.9 295.8 459.3 146.9 -88.6 195.5 79

80 FR593052025 Insurance, pension, and standardized guarantee schemes -646.1 -413.6 37.5 -443.1 -793.3 -299.0 147.7 -297.4 80

81 FR594190005 Liabilities (pension entitlements) 545.3 340.6 -68.2 390.9 704.3 276.4 -102.5 312.9 81

82 FR598200005 Changes in net worth due to nominal holding gains/losses -12.1 -2.0 -3.9 -13.6 -21.2 -9.9 14.6 2.4 82

 Changes in balance sheet account

83 FC592090095 Change in net worth (lines 30+33+68+82) -12.1 -2.0 -3.9 -13.6 -21.2 -9.9 14.6 2.4 83

 Balance sheet account (end of period)

84 FL592000095 Total assets 13187.2 14560.0 14933.0 15772.0 16982.4 17605.0 17862.6 18652.5 84

85 LM592010095 Nonfinancial assets (4) 6.2 6.2 6.3 6.6 6.6 6.7 6.7 6.6 85

86 LM595013665 Structures (nonresidential) 6.1 6.1 6.2 6.4 6.5 6.6 6.6 6.5 86

87 LM595013265 Equipment 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 87

88 LM595013765 Intellectual property products 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 88

89 FL594090005 Financial assets 13181.0 14553.8 14926.7 15765.4 16975.8 17598.3 17855.9 18645.9 89

90 FL594000005 Currency and deposits 67.5 68.5 75.9 77.4 87.1 93.9 92.9 105.5 90

91 FL593020005 Currency and transferable deposits 35.2 36.9 42.2 46.0 49.7 55.3 59.5 72.6 91

92 FL593030005 Time and savings deposits 32.4 31.6 33.7 31.4 37.4 38.6 33.4 32.9 92

93 LM594022005 Debt securities 2714.3 2927.2 3070.4 3347.8 3478.3 3764.2 3785.8 3963.2 93

94 FL593069105 Open market paper 73.2 76.4 78.8 77.0 87.1 87.7 83.4 96.1 94

95 LM593061105 Treasury securities 1504.1 1633.0 1766.4 1905.6 1997.0 2128.8 2176.2 2297.1 95

96 LM593061705 Agency- and GSE-backed securities (2) 313.0 334.3 289.3 289.0 267.0 289.2 267.2 287.2 96

97 LM593062045 Municipal securities 1.3 1.9 1.5 1.7 2.4 2.5 2.5 2.0 97

98 LM593063005 Corporate and foreign bonds 822.8 881.5 934.3 1074.5 1124.7 1256.0 1256.5 1280.8 98

99 FL594035005 Loans 41.0 44.0 40.7 39.5 35.8 39.2 36.9 37.6 99

100 FL592051005 Short term 6.0 6.1 6.0 6.0 6.8 6.8 6.5 7.6 100

101 FL593065005 Long term (mortgages) 35.0 37.9 34.6 33.6 29.0 32.3 30.4 30.1 101

102 FL593081005 Equity and investment fund shares 5759.2 6499.6 6289.9 7010.8 8342.3 8644.8 8417.8 8872.2 102

103 LM593064105 Corporate equities 3199.1 3646.4 3550.2 4002.5 4709.6 4810.4 4678.7 4912.1 103

104 LM593064205 Mutual fund shares 2355.2 2658.6 2531.6 2814.5 3420.5 3623.7 3532.3 3740.3 104

105 FL593034005 Money market fund shares 205.0 194.7 208.1 193.8 212.2 210.7 206.8 219.7 105

106 FL593052025 Insurance, pension and standardized guarantee schemes 3963.2 4349.4 4724.9 4529.5 4238.3 4228.3 4708.8 4787.1 106
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2009 2010 2011 2012 2013 2014 2015 2016

 

107 FL593093005 Other accounts receivable 635.8 665.1 725.0 760.5 794.0 827.9 813.9 880.3 107

108 FL592000095 Total liabilities and net worth 13187.2 14560.0 14933.0 15772.0 16982.4 17605.0 17862.6 18652.5 108

109 FL594190005 Liabilities (pension entitlements) 13322.1 14696.8 15073.8 15926.3 17158.0 17790.5 18033.5 18821.0 109

110 FL592090095 Net worth -134.9 -136.9 -140.8 -154.4 -175.6 -185.5 -170.9 -168.4 110

(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 the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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S.65.a Other Financial Business

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

 Current account

 1 FA856902505 Gross value added 445.0 509.8 551.3 641.7 618.1 665.2 637.3 647.1 1

 2 FA856300085 Less: Consumption of fixed capital 116.9 116.7 109.0 113.3 119.1 125.6 133.5 140.8 2

 3 FA856902605 Equals: Net value added 328.2 393.1 442.3 528.3 499.0 539.6 503.9 506.3 3

 4 FA856025005 Compensation of employees (paid) 283.7 302.5 318.7 328.5 333.7 370.3 387.8 405.3 4

 5 FA856020005 Wages and salaries 241.7 256.7 270.3 279.8 284.2 317.9 333.1 346.7 5

 6 FA856401005 Employers’ social contributions 41.9 45.8 48.5 48.6 49.5 52.3 54.7 58.5 6

 7 FA856240105 Taxes on production and imports less subsidies 32.6 33.1 25.6 26.5 24.0 20.7 20.7 21.7 7

 8 FA856402105 Operating surplus, net 11.9 57.5 98.0 173.4 141.3 148.6 95.4 79.4 8

 9 FA856140005 Net national income/Balance of primary incomes, net 8.5 59.3 95.5 87.0 -66.8 -31.6 -77.9 33.1 9

10 FA856402105 Operating surplus, net 11.9 57.5 98.0 173.4 141.3 148.6 95.4 79.4 10

11 FA856150105 Property income (received) 977.3 871.3 893.9 854.3 801.1 807.5 844.0 846.7 11

12 FA856130105 Interest 809.0 674.6 673.7 615.0 520.2 504.9 527.9 518.8 12

13 FA856121105 Distributed income of corporations (dividends) 143.5 163.4 188.0 212.8 253.6 277.1 290.7 303.5 13

14 FA853092285 Reinvested earnings on U.S. direct investment abroad 24.7 33.4 32.2 26.6 27.3 25.5 25.4 24.3 14

15 FA856150005 Less: Uses of property income (paid) 980.6 869.5 896.4 940.7 1009.3 987.7 1017.3 893.0 15

16 FA856130005 Interest 701.4 591.0 616.9 592.9 532.8 538.4 571.2 542.5 16

17 FA856120005 Distributed income of corporations 277.1 272.5 272.0 340.1 469.9 441.6 439.5 343.5 17

18 FA856121005 Dividends 208.8 191.5 220.6 275.9 427.3 430.5 436.4 340.6 18

19 FA856122005 Withdrawals from income of quasi-corporations (1) 68.2 81.0 51.4 64.2 42.6 11.1 3.1 2.9 19

20 FA853192285 Reinvested earnings on foreign direct investment 2.2 6.1 7.5 7.7 6.6 7.8 6.6 7.0 20

21 FA856112005 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA856140005 Net national income/Balance of primary incomes, net 8.5 59.3 95.5 87.0 -66.8 -31.6 -77.9 33.1 22

23 FA856220005 Less: Current taxes on income, wealth, etc. (paid) 16.5 23.2 28.4 32.9 44.1 40.6 29.9 38.7 23

24 FA856403005 Less: Other current transfers (paid) 26.2 21.2 26.9 34.2 36.2 38.4 20.6 27.1 24

25 FA856012005 Equals: Disposable income, net -34.2 14.9 40.2 19.9 -147.1 -110.6 -128.3 -32.7 25

26 FA856012005 Equals: Net saving -34.2 14.9 40.2 19.9 -147.1 -110.6 -128.3 -32.7 26

 Capital account

27 FA856006385 Net saving less capital transfers 64.3 56.4 72.3 24.6 -147.1 -120.6 -128.3 -34.5 27

28 FA856012005 Net saving -34.2 14.9 40.2 19.9 -147.1 -110.6 -128.3 -32.7 28

29 FA855440085 Less: Capital transfers paid (net) -98.5 -41.5 -32.1 -4.7 0.0 10.0 0.0 1.8 29

30 FA855015085 Capital formation, net -10.6 -4.8 6.4 21.6 21.7 35.2 38.6 33.9 30

31 FA855013085 Gross fixed capital formation (nonresidential) 106.3 111.9 115.4 134.9 140.9 160.8 172.1 174.6 31

32 FA856300085 Less: Consumption of fixed capital 116.9 116.7 109.0 113.3 119.1 125.6 133.5 140.8 32

33 FA855000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 74.9 61.2 65.9 3.1 -168.8 -155.8 -166.9 -68.4 33

 Financial account

34 FA855000995 Net lending (+) or borrowing (-) (line 33) 74.9 61.2 65.9 3.1 -168.8 -155.8 -166.9 -68.4 34

35 FA854090005 Net acquisition of financial assets -1202.0 -680.1 -1.0 448.8 384.3 689.9 293.5 1081.1 35

36 FA854000005 Currency and deposits 109.7 -157.9 -86.7 8.0 68.8 -22.0 -119.0 -292.7 36

37 FA854022005 Debt securities -804.0 -69.2 140.1 459.5 -242.9 -97.0 201.8 562.3 37

38 FA853069175 Open market paper -367.8 -168.6 -67.5 -6.8 -16.6 -47.7 28.6 -107.3 38

39 FA853061105 Treasury securities -112.8 85.4 256.2 107.9 -143.2 61.3 258.7 455.5 39

40 FA853061705 Agency- and GSE-backed securities (2) -517.6 -175.5 165.4 103.1 -181.1 -153.0 -101.8 188.2 40

41 FA853062005 Municipal securities 13.6 -16.8 -47.8 48.0 -80.7 -10.5 -1.1 -53.4 41

42 FA853063005 Corporate and foreign bonds 180.7 206.2 -166.3 207.2 178.7 53.0 17.5 79.3 42

43 FA854035005 Loans -517.4 -64.6 -37.5 101.9 -117.1 160.1 50.1 313.8 43

44 FA854041005 Short term -664.5 64.0 42.8 202.5 -197.2 147.6 -32.2 150.4 44

45 FA813065005 Long term (mortgages) 147.1 -128.6 -80.3 -100.6 80.0 12.5 82.3 163.4 45

46 FA813081005 Equity and investment fund shares -28.1 -54.6 84.6 152.9 483.0 554.8 395.1 502.7 46

47 FA813064105 Corporate equities 166.2 134.0 48.7 90.4 416.9 298.2 221.2 69.3 47

48 FA503034003 Money market fund shares -153.7 -148.0 -83.4 -62.4 -32.1 67.3 -16.4 97.9 48

49 FA813092405 Equity in government-sponsored enterprises (2) 0.0 0.1 -0.0 0.0 0.1 0.3 1.2 -0.5 49

50 FA803092005 U.S. direct investment abroad 23.5 15.4 16.9 15.8 9.9 12.4 20.5 49.8 50

51 FA793094005 Investment in subsidiaries -64.1 -56.0 102.4 109.0 88.2 176.7 168.7 286.2 51

52 FA733040005 Insurance, pension and standardized guarantee schemes 2.1 3.8 2.4 7.3 5.1 5.0 4.1 4.0 52

53 FA853096005 Other accounts receivable 35.7 -337.6 -103.9 -280.7 187.4 89.0 -238.6 -9.0 53

54 FA854190005 Net incurrence of liabilities -1320.1 -696.9 -73.7 356.7 278.3 623.5 189.2 896.1 54

55 FA403197033 Currency and deposits 0.4 -1.5 -1.8 1.2 -3.2 -1.5 -0.5 -0.4 55
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2009 2010 2011 2012 2013 2014 2015 2016

 

56 FA814122005 Debt securities -945.1 -585.6 -301.2 -321.3 177.3 170.1 128.7 379.5 56

57 FA423161705 Agency- and GSE-backed securities (2) -60.1 -39.5 -22.1 -23.8 238.3 150.3 220.4 351.7 57

58 FA813163005 Corporate bonds -431.4 -444.2 -171.8 -250.9 -8.2 82.3 -52.2 20.0 58

59 FA813169105 Commercial paper -453.7 -101.9 -107.3 -46.6 -52.8 -62.5 -39.6 7.9 59

60 FA814135005 Loans -753.9 176.2 182.7 262.9 -406.3 -113.8 -229.7 -73.0 60

61 FA814141005 Short term -765.6 175.3 169.3 258.1 -426.2 -123.1 -233.7 -74.0 61

62 FA643165005 Long term (mortgages) 11.8 0.8 13.5 4.8 19.9 9.3 4.0 1.0 62

63 FA853181005 Equity and investment fund shares 134.6 55.7 326.9 661.3 633.8 635.0 537.7 473.7 63

64 FA634090005 Money market fund shares -516.3 -512.4 -112.6 2.2 24.6 6.8 30.1 -26.6 64

65 FA813164105 Corporate equity issues 298.4 200.0 186.4 187.2 190.2 264.7 255.4 266.0 65

66 FA653164205 Mutual fund shares 533.4 395.9 200.8 386.3 346.3 309.7 96.7 24.6 66

67 FA403192405 Equity in government-sponsored enterprises (2) 0.0 -2.7 -5.9 -1.8 0.5 1.2 1.3 2.7 67

68 FA803192005 Foreign direct investment in the United States 15.6 27.0 24.9 13.8 9.0 19.3 14.6 31.1 68

69 FA662090205 Equity in noncorporate business 0.7 2.5 -0.3 8.7 -3.3 2.7 5.8 9.1 69

70 FA803194005 Investment by parent -197.0 -54.5 33.7 64.8 66.6 30.6 133.8 166.7 70

71 FA813196005 Other accounts payable 243.9 -341.7 -280.3 -247.3 -123.2 -66.3 -247.0 116.3 71

 Addendum:

72 FA855000005 Net lending (+) or borrowing (-), financial account (lines 35-54) 118.1 16.8 72.7 92.1 105.9 66.4 104.4 185.0 72

 Other changes in volume account

73 FV858090185 Total other volume changes 299.5 51.7 34.9 461.9 334.8 60.6 182.2 350.2 73

74 FV812010095 Disaster losses 0.0 -2.1 0.0 -1.3 0.0 0.0 0.0 0.0 74

75 FV858090085 Other volume changes 256.3 98.1 28.0 374.1 60.1 -161.5 -89.1 96.8 75

76 FU857005045 Less: Statistical discrepancy (lines 33-72) (3) -43.2 44.4 -6.8 -89.0 -274.7 -222.2 -271.3 -253.4 76

 Revaluation account

77 FR812010095 Nonfinancial assets -24.1 5.5 26.2 12.5 22.6 12.8 10.8 9.7 77

78 FR815013665 Structures (nonresidential) -26.1 0.9 18.5 9.2 17.9 14.4 11.3 11.4 78

79 FR815013265 Equipment 2.3 4.4 7.1 3.0 3.5 -2.2 -0.3 -1.5 79

80 FR815013765 Intellectual property products -0.3 0.2 0.6 0.3 1.2 0.5 -0.2 -0.3 80

81 FR854090085 Financial assets 1522.6 854.3 -389.6 1036.6 1651.2 735.7 -526.1 693.6 81

82 FR854022005 Debt securities 133.0 36.2 100.2 92.9 -244.3 117.4 -139.7 -1.2 82

83 FR813064105 Corporate equities 1403.5 806.2 -451.1 944.3 1962.9 550.1 -346.1 709.6 83

84 FR803092005 U.S. direct investment abroad -14.0 11.9 -38.7 -0.7 -67.4 68.1 -40.4 -14.7 84

85 FR813181085 Liabilities 1833.8 1321.5 -550.0 1527.4 2594.8 1044.9 -603.2 1233.9 85

86 FR813164105 Corporate equity issues 369.7 460.8 -229.6 500.8 973.2 518.3 -244.5 520.2 86

87 FR653164205 Mutual fund shares 1474.9 837.2 -289.3 1035.8 1623.2 507.9 -350.1 693.7 87

88 FR803192005 Foreign direct investment in the United States -10.7 22.4 -31.7 -9.8 -7.5 17.4 -7.5 13.5 88

89 FR662090205 Equity in noncorporate business 0.5 3.1 -1.3 0.7 6.0 1.2 -1.0 6.5 89

90 FR803194005 Investment by parent -0.6 -2.0 1.8 -0.1 0.0 0.0 0.0 0.0 90

91 FR858200005 Changes in net worth due to nominal holding gains/losses -335.3 -461.7 186.6 -478.4 -921.1 -296.3 87.8 -530.6 91

 Changes in balance sheet account

92 FC852090095 Change in net worth (lines 30+33+73+91) 28.5 -353.7 293.8 8.1 -733.3 -356.3 141.7 -215.0 92

 Balance sheet account (end of period)

93 FL852000095 Total assets 35459.8 34758.4 34330.7 36875.6 38802.9 40084.0 39418.0 41332.3 93

94 LM812010095 Nonfinancial assets (4) 956.0 954.9 987.3 1017.9 1062.4 1106.7 1153.3 1194.2 94

95 LM815013665 Structures (nonresidential) 543.0 539.3 552.0 556.6 569.5 580.9 592.1 605.8 95

96 LM815013265 Equipment 331.2 332.5 347.9 369.8 398.5 429.0 462.4 486.2 96

97 LM815013765 Intellectual property products 81.8 83.1 87.4 91.5 94.4 96.8 98.8 102.2 97

98 FL854090005 Financial assets 34503.7 33803.5 33343.3 35857.7 37740.4 38977.3 38264.7 40138.1 98

99 FL854000005 Currency and deposits 1101.3 988.5 901.8 932.1 1000.9 978.9 853.4 560.6 99

100 FL854022005 Debt securities 7379.5 6789.3 7028.3 7673.2 7142.4 7162.8 7215.2 7776.3 100

101 FL853069175 Open market paper 740.0 575.7 507.2 500.5 484.4 437.8 467.8 360.9 101

102 FL853061105 Treasury securities 967.1 1053.1 1329.6 1442.6 1264.5 1341.3 1586.9 2026.8 102

103 FL853061705 Agency- and GSE-backed securities (2) 2474.5 1849.6 2033.3 2161.1 1940.2 1803.8 1695.3 1880.5 103

104 FL853062005 Municipal securities 1052.9 1027.9 1023.0 1093.6 964.9 1003.6 1002.8 932.7 104

105 FL853063005 Corporate and foreign bonds 2145.0 2283.0 2135.3 2475.5 2488.3 2576.4 2462.5 2575.3 105

106 FL854035005 Loans 13551.2 12866.0 12717.0 12783.5 12578.7 12711.0 12618.5 12901.5 106

107 FL854041005 Short term 4716.0 4447.3 4490.1 4767.7 4555.1 4702.6 4529.6 4680.1 107

108 FL813065005 Long term (mortgages) 8835.3 8418.7 8226.9 8015.8 8023.6 8008.4 8088.9 8221.4 108
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S.65.a Other Financial Business

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

109 FL813081005 Equity and investment fund shares 10392.5 11156.1 10750.9 12274.1 14607.5 15780.6 15638.7 16795.6 109

110 LM813064105 Corporate equities 5925.8 6866.0 6463.7 7498.4 9878.2 10726.5 10601.6 11380.5 110

111 FL503034003 Money market fund shares 752.1 604.1 520.7 458.3 426.3 493.5 477.1 575.0 111

112 FL813092405 Equity in government-sponsored enterprises (2) 0.0 0.1 0.1 0.1 0.2 0.5 1.6 1.1 112

113 LM803092005 U.S. direct investment abroad 417.9 445.3 423.5 438.6 381.1 461.6 441.7 476.8 113

114 FL793094005 Investment in subsidiaries 3296.6 3240.6 3343.0 3878.7 3921.8 4098.5 4116.6 4362.1 114

115 FL733040005 Insurance, pension and standardized guarantee schemes 21.4 25.1 27.6 34.9 39.9 45.0 49.0 53.0 115

116 FL853096005 Other accounts receivable 2057.8 1978.5 1917.7 2159.9 2371.1 2299.0 1889.9 2051.1 116

117 FL852100005 Total liabilities and net worth 35459.8 34758.4 34330.7 36875.6 38802.9 40084.0 39418.0 41332.3 117

118 FL854194005 Liabilities 34448.7 34101.1 33379.5 35916.4 38576.9 40214.3 39406.6 41536.0 118

119 FL403197033 Currency and deposits 15.9 14.4 12.6 13.7 10.6 9.1 8.5 8.1 119

120 FL814122005 Debt securities 14587.7 13249.1 12874.4 12739.1 12851.3 12993.9 12939.5 13296.2 120

121 FL423161705 Agency- and GSE-backed securities (2) 8083.3 7581.3 7559.2 7535.4 7773.7 7924.0 8144.4 8496.1 121

122 FL813163005 Corporate bonds 5744.6 5142.3 4897.1 4832.1 4758.8 4813.6 4578.5 4575.6 122

123 FL813169105 Commercial paper 759.9 525.5 418.2 371.6 318.7 256.2 216.6 224.5 123

124 FL814135005 Loans 3073.6 3261.7 3439.0 3702.0 3295.6 3189.7 2962.9 2890.0 124

125 FL814141005 Short term 2898.3 3085.6 3249.5 3507.6 3081.4 2958.3 2727.5 2653.5 125

126 FL643165005 Long term (mortgages) 175.3 176.1 189.5 194.4 214.3 231.4 235.4 236.5 126

127 FL853181005 Equity and investment fund shares 15379.0 16719.0 16495.9 19079.3 22278.8 23958.7 23743.0 25410.0 127

128 FL634090005 Money market fund shares 3315.9 2803.5 2691.0 2693.2 2717.8 2724.6 2754.7 2728.1 128

129 LM813164105 Corporate equity issues 2627.1 3287.9 3244.7 3932.7 5096.0 5879.1 5890.0 6676.3 129

130 LM653164205 Mutual fund shares 7796.7 9029.8 8941.4 10363.5 12333.0 13150.6 12897.2 13615.6 130

131 FL403192405 Equity in government-sponsored enterprises (2) 51.8 49.0 43.1 41.2 41.7 42.9 44.2 46.9 131

132 LM803192005 Foreign direct investment in the United States 165.2 214.6 207.8 211.8 213.4 250.1 257.2 301.8 132

133 LM662090205 Equity in noncorporate business 20.7 26.3 24.7 34.1 36.7 40.6 45.4 61.0 133

134 FL803194005 Investment by parent 1401.5 1307.9 1343.3 1802.7 1840.2 1870.7 1854.3 1980.3 134

135 FL813196005 Other accounts payable 1392.5 856.9 557.6 382.3 140.6 63.0 -247.4 -68.3 135

136 FL852090095 Net worth 1011.0 657.4 951.1 959.3 225.9 -130.4 11.3 -203.7 136

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.
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Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

 Current account

 1 FA316902505 Gross value added 668.8 704.5 720.9 723.7 715.2 724.9 738.8 749.0 1

 2 FA316300003 Less: Consumption of fixed capital 234.5 245.3 257.4 264.3 268.0 271.0 271.3 271.3 2

 3 FA316902605 Equals: Net value added 434.3 459.1 463.5 459.4 447.2 453.9 467.5 477.7 3

 4 FA316025001 Compensation of employees (paid) 433.5 462.2 470.6 468.3 458.3 462.0 472.2 481.2 4

 5 FA316020001 Wages and salaries 312.2 328.5 331.7 327.7 320.4 324.0 330.5 336.4 5

 6 FA316401005 Employers’ social contributions 121.3 133.7 138.9 140.7 137.9 138.0 141.8 144.8 6

 7 FA316402101 Operating surplus, net 0.8 -3.1 -7.1 -8.9 -11.1 -8.0 -4.7 -3.5 7

 8 FA316140005 Net national income/Balance of primary incomes, net -269.9 -286.6 -327.3 -321.6 -198.0 -295.7 -310.8 -356.0 8

 9 FA316402101 Operating surplus, net 0.8 -3.1 -7.1 -8.9 -11.1 -8.0 -4.7 -3.5 9

10 FA316240001 Taxes on production and imports, receivable 91.4 96.8 108.6 115.1 124.8 135.4 140.2 137.0 10

11 FA316402015 Subsidies (paid) -56.9 -54.3 -59.5 -57.6 -58.8 -57.6 -56.7 -61.3 11

12 FA316150195 Property income (received) 48.5 54.6 56.4 52.6 163.3 75.1 48.9 46.8 12

13 FA316130101 Interest 22.8 29.5 27.7 21.3 22.8 23.8 26.4 27.3 13

14 FA316121101 Distributed income of corporations (dividends) 18.7 17.0 18.8 21.1 131.3 40.7 16.0 14.8 14

15 FA316112101 Rents on land and natural resources 7.0 8.0 9.9 10.2 9.2 10.6 6.6 4.7 15

16 FA316130095 Less: Uses of property income (interest paid) 353.6 380.6 425.7 422.9 416.2 440.6 438.4 475.1 16

17 FA316140005 Net national income/Balance of primary incomes, net -269.9 -286.6 -327.3 -321.6 -198.0 -295.7 -310.8 -356.0 17

18 FA316220001 Plus: Current taxes on income, wealth, etc. (received) 1079.7 1256.0 1445.2 1546.0 1699.4 1860.0 1986.7 1963.2 18

19 FA316601001 Plus: Social benefits (received) 950.8 970.9 904.0 938.1 1091.3 1140.9 1193.4 1230.2 19

20 FA316404001 Less: Social contributions (paid) 1632.2 1774.4 1796.9 1801.5 1842.4 1901.2 1987.4 2039.3 20

21 FA316403105 Plus: Other current transfers (received) 67.2 68.1 67.1 56.1 70.7 87.8 77.0 78.3 21

22 FA316403001 Less: Other current transfers (paid) 510.7 558.8 530.1 499.3 503.9 547.6 585.4 609.2 22

23 FA316012005 Equals: Disposable income, net -315.1 -324.8 -238.1 -82.2 317.2 344.3 373.4 267.3 23

24 FA316901001 Less: Final consumption expenditures 933.7 1003.9 1006.1 1007.8 961.0 954.5 960.0 964.5 24

25 FA316006085 Equals: Net saving -1248.8 -1328.7 -1244.1 -1090.1 -643.8 -610.2 -586.7 -697.3 25

 Capital account

26 FA316006385 Net saving less capital transfers -1435.1 -1455.0 -1358.0 -1175.0 -702.0 -668.6 -638.0 -750.9 26

27 FA316006085 Net saving -1248.8 -1328.7 -1244.1 -1090.1 -643.8 -610.2 -586.7 -697.3 27

28 FA315440005 Less: Capital transfers paid (net) 186.3 126.3 113.9 85.0 58.2 58.4 51.4 53.6 28

29 FA315050905 Capital formation, net 40.6 53.7 39.1 18.4 -2.0 -9.9 -38.1 -12.9 29

 Gross fixed capital formation (acquisition of

30 FA315019001 produced nonfinancial assets) 284.0 300.0 297.4 284.7 268.4 263.7 264.0 267.0 30

31 FA316300003 Less: Consumption of fixed capital 234.5 245.3 257.4 264.3 268.0 271.0 271.3 271.3 31

32 FA315420003 Acquisition of nonproduced nonfinancial assets -8.9 -1.0 -0.9 -2.0 -2.4 -2.6 -30.7 -8.6 32

33 FA315000995 Net lending (+) or borrowing (-), capital account (lines 26-29) -1475.7 -1508.7 -1397.1 -1193.4 -700.0 -658.6 -600.0 -738.0 33

 Financial account

34 FA315000995 Net lending (+) or borrowing (-) (line 33) -1475.7 -1508.7 -1397.1 -1193.4 -700.0 -658.6 -600.0 -738.0 34

35 FA314090005 Net acquisition of financial assets 247.4 279.9 -148.4 118.6 217.6 173.6 234.4 211.0 35

36 FA313011105 Monetary gold and SDRs 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.7 36

37 FA313011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 FA313011303 SDR holdings 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.7 38

39 FA314000005 Currency and deposits -170.2 150.5 -239.9 11.1 65.8 57.2 103.5 67.0 39

40 FA313011505 Official foreign currencies 0.3 0.3 -0.2 0.2 0.2 0.1 0.1 0.0 40

41 FA313011405 Reserve position in IMF (net) 3.4 1.3 18.2 4.0 -3.4 -3.9 -6.5 1.5 41

42 FA313020005 Currency and transferable deposits -174.2 148.9 -257.6 6.7 69.6 60.8 109.9 65.7 42

43 FA313030003 Time and savings deposits 0.3 0.1 -0.3 0.2 -0.5 0.2 0.0 -0.2 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 142.5 -46.9 -118.2 -31.3 -0.1 -0.0 -0.0 0.0 45

46 FA313061703 Agency- and GSE-backed securities 142.0 -47.2 -118.1 -31.1 0.0 0.0 0.0 0.0 46

47 FA313063763 Corporate and foreign bonds 0.6 0.3 -0.1 -0.2 -0.1 -0.0 -0.0 0.0 47

48 FA314023005 Loans 176.3 129.3 139.0 131.7 124.4 114.5 104.8 103.0 48

49 FA314041005 Short term 163.7 134.8 135.7 130.1 120.5 112.8 105.5 99.8 49

50 FA313066220 Consumer credit 97.5 131.1 131.0 127.5 113.3 110.7 103.4 99.6 50

51 FA313069005 Other loans and advances 66.2 3.6 4.8 2.6 7.2 2.0 2.1 0.2 51

52 FA313065005 Long term (mortgages) 12.6 -5.4 3.3 1.6 4.0 1.7 -0.7 3.2 52

53 FA313081115 Equity and investment fund shares 3.4 30.4 43.4 -14.2 -4.4 0.7 2.2 1.9 53

54 FA313064105 Corporate equities 0.6 24.1 40.3 -13.2 -4.8 -1.6 -0.0 -0.1 54

55 FA313092803 Equity in international organizations 1.7 2.3 2.6 2.4 2.2 2.3 2.2 2.0 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 1.2 4.0 0.5 -3.4 -1.8 0.0 0.0 0.0 57
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S.7.a Federal Government (1)

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

58 FA313096005 Other accounts receivable 47.1 16.5 29.1 21.2 31.8 1.3 23.9 38.5 58

59 FA313070000 Trade receivables -21.1 -0.7 4.8 2.6 3.3 -5.2 12.7 3.8 59

60 FA313078005 Taxes receivable 35.9 27.1 25.6 22.0 24.9 -3.7 -1.0 23.5 60

61 FA313093003 Other (miscellaneous assets) 32.3 -9.8 -1.3 -3.5 3.7 10.2 12.2 11.2 61

62 FA314190005 Net incurrence of liabilities 1538.4 1696.7 1201.5 1248.7 879.7 770.3 770.1 907.3 62

63 FA313111303 SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 63

64 FA314100005 Currency and deposits -0.4 -0.3 0.0 0.0 -0.4 -0.3 -0.0 0.0 64

65 FA314122005 Debt securities 1505.8 1645.9 1138.7 1180.6 857.3 735.9 724.6 842.7 65

66 FA313161105 Treasury securities 1505.7 1645.3 1137.6 1181.0 857.7 736.0 724.4 842.8 66

67 FA313161705 Federal agency securities 0.1 0.7 1.1 -0.4 -0.4 -0.1 0.2 -0.1 67

68 FA313165403 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 68

69 FA313152005 Insurance, pension and standardized guarantee schemes 34.6 42.6 40.5 63.1 4.0 32.7 26.2 27.8 69

70 FA313140003 Insurance reserves 1.1 0.9 1.3 0.3 0.2 0.8 -0.1 0.1 70

71 FA313195105 Retiree Health Care Funds 16.6 22.5 18.5 13.3 12.2 10.4 7.4 12.9 71

72 FA343073005 Claims of pension fund on sponsor 16.9 19.2 20.7 49.4 -8.4 21.6 18.9 14.9 72

73 FA313196005 Other accounts payable -49.3 8.4 22.3 5.0 18.8 1.9 19.4 36.8 73

74 FA713014003 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 74

75 FA313170005 Trade payables -55.2 6.1 8.7 13.3 17.5 -1.1 15.8 31.1 75

76 FA313193005 Other (miscellaneous liabilities) 2.9 2.4 13.6 -8.3 1.3 3.0 3.5 5.8 76

 Addendum:

77 FA315000005 Net lending (+) or borrowing (-), financial account (lines 35-62) -1291.0 -1416.8 -1349.9 -1130.0 -662.0 -596.7 -535.8 -696.3 77

 Other changes in volume account

78 FV318090185 Total other volume changes 128.7 -31.0 48.4 43.0 25.7 77.6 118.5 48.8 78

79 FV312010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 79

80 FV318090085 Other volume changes -56.0 -122.8 1.2 -20.4 -12.3 15.6 54.3 7.1 80

81 FU317005045 Less: Statistical discrepancy (lines 33-77) (3) -184.7 -91.9 -47.2 -63.4 -37.9 -62.0 -64.2 -41.7 81

 Revaluation account

82 FR312010095 Nonfinancial assets -36.0 61.3 69.3 50.0 79.4 54.2 11.5 49.9 82

83 FR315014665 Structures -48.4 18.1 49.4 36.2 50.0 38.9 9.1 45.5 83

84 FR315013265 Equipment 8.6 5.0 12.2 2.0 3.7 10.0 -3.3 1.6 84

85 FR315013765 Intellectual property products 3.8 38.2 7.7 11.9 25.8 5.3 5.7 2.7 85

86 FR318080005 Financial assets -121.6 -43.7 -32.1 -4.7 0.1 -5.0 -3.3 -2.1 86

87 FR313011105 Monetary gold and SDRs 0.2 -1.0 -0.1 0.1 0.1 -3.3 -2.3 -1.5 87

88 FR314000005 Currency and deposits 0.3 -0.2 -0.5 0.0 0.0 -1.7 -1.1 -0.6 88

89 FR313064105 Corporate equities -121.9 -41.5 -32.4 -4.7 0.0 0.0 0.0 0.0 89

90 FR313094303 Equity investment under Public-Private Inv. Program -0.3 -1.0 0.9 -0.0 0.0 0.0 0.0 0.0 90

91 FR313111303 Liabilities (SDR allocations) 0.2 -1.0 -0.2 0.1 0.1 -3.2 -2.2 -1.5 91

92 FR318200005 Changes in net worth due to nominal holding gains/losses -157.9 18.5 37.4 45.3 79.4 52.4 10.4 49.3 92

 Changes in balance sheet account

93 FC312090095 Change in net worth (lines 29+33+78+92) -1464.3 -1467.5 -1272.2 -1086.8 -596.9 -538.5 -509.1 -652.8 93

 Balance sheet account (end of period)

94 FL312000095 Total assets 4238.8 4577.3 4489.0 4657.1 4934.7 5156.1 5406.0 5647.3 94

95 LM312010095 Nonfinancial assets (4) 2842.1 2957.5 3066.8 3137.2 3217.1 3264.0 3268.2 3313.7 95

96 LM315014665 Structures 1326.1 1352.5 1406.9 1439.8 1481.4 1510.4 1509.0 1543.4 96

97 LM315013265 Equipment 649.8 680.9 711.0 726.6 734.4 746.0 744.5 748.1 97

98 LM315013765 Intellectual property products 866.2 924.1 948.9 970.8 1001.3 1007.5 1014.7 1022.2 98

99 FL314090005 Financial assets 1396.7 1619.8 1422.2 1519.9 1717.6 1892.2 2137.8 2333.6 99

100 FL313011105 Monetary gold and SDRs 57.8 56.8 55.0 55.1 55.2 51.9 49.7 48.9 100

101 FL313011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 101

102 FL313011303 SDR holdings 57.8 56.8 55.0 55.1 55.2 51.9 49.7 48.9 102
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S.7.a Federal Government (1)

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

103 FL314000005 Currency and deposits 234.9 385.2 144.8 155.9 221.8 277.2 379.7 446.1 103

104 FL313011505 Official foreign currencies 25.0 25.7 25.6 24.7 23.6 20.7 19.5 19.3 104

105 FL313011405 Reserve position in IMF (net) 11.5 12.6 30.3 34.4 31.0 25.3 17.7 18.7 105

106 FL313020005 Currency and transferable deposits 193.9 342.3 84.6 92.2 163.0 226.8 338.1 404.0 106

107 FL313030003 Time and savings deposits 1.9 2.0 1.7 2.0 1.5 1.7 1.8 1.5 107

108 FL313091105 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 108

109 FL314022005 Debt securities 197.0 150.1 31.9 0.6 0.6 0.5 0.5 0.5 109

110 FL313061703 Agency- and GSE-backed securities 196.4 149.2 31.1 0.0 0.0 0.0 0.0 0.0 110

111 FL313063763 Corporate and foreign bonds 0.6 0.9 0.8 0.6 0.6 0.5 0.5 0.5 111

112 FL314023005 Loans 516.4 649.3 788.4 920.1 1044.5 1159.0 1263.7 1366.7 112

113 FL314041005 Short term 408.0 542.7 678.5 808.6 929.0 1041.8 1147.3 1247.0 113

114 FL313066220 Consumer credit 232.7 363.8 494.8 622.2 735.5 846.2 949.7 1049.3 114

115 FL313069005 Other loans and advances 175.3 179.0 183.7 186.3 193.5 195.5 197.6 197.8 115

116 FL313065005 Long term (mortgages) 108.4 106.6 109.9 111.5 115.5 117.2 116.5 119.7 116

117 FL313081115 Equity and investment fund shares 118.7 106.6 118.4 99.5 95.1 95.8 98.0 99.9 117

118 LM313064105 Corporate equities 67.4 49.9 57.8 39.9 35.1 33.4 33.4 33.3 118

119 FL313092803 Equity in international organizations 50.5 52.8 55.4 57.8 60.0 62.4 64.6 66.6 119

120 FL313092403 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 120

121 LM313094303 Equity investment under Public-Private Inv. Program 0.9 3.8 5.2 1.8 0.0 0.0 0.0 0.0 121

122 FL313096005 Other accounts receivable 271.8 271.7 283.7 288.7 300.5 307.7 346.2 371.4 122

123 FL313070000 Trade receivables 43.6 42.9 47.7 50.3 53.6 48.4 61.2 64.9 123

124 FL313078005 Taxes receivable 133.9 144.3 152.8 158.6 163.4 165.6 179.2 189.5 124

125 FL313093003 Other (miscellaneous assets) 94.3 84.5 83.2 79.8 83.4 93.6 105.8 117.0 125

126 FL312000095 Total liabilities and net worth 4238.8 4577.3 4489.0 4657.1 4934.7 5156.1 5406.0 5647.3 126

127 FL314190005 Liabilities 11006.9 12812.8 13996.8 15251.7 16126.1 16886.1 17645.0 18539.1 127

128 FL313111303 SDR allocations 55.4 54.4 54.2 54.3 54.4 51.2 48.9 47.5 128

129 FL314100005 Currency and deposits 26.2 25.9 25.9 25.9 25.6 25.3 25.3 25.3 129

130 FL314122005 Debt securities 8882.6 10528.6 11667.3 12847.8 13705.1 14441.1 15165.6 16008.3 130

131 FL313161105 Treasury securities 8859.2 10504.4 11642.0 12822.9 13680.6 14416.7 15141.1 15983.8 131

132 FL313161705 Federal agency securities 23.5 24.2 25.3 24.9 24.5 24.4 24.6 24.5 132

133 FL313165403 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 133

134 FL313152005 Insurance, pension and standardized guarantee schemes 1828.7 1984.3 2021.5 2082.7 2083.2 2112.3 2133.6 2156.1 134

135 FL313140003 Insurance reserves 47.8 48.7 50.0 50.3 50.5 51.3 51.1 51.3 135

136 FL313195105 Retiree Health Care Funds 180.4 202.9 221.4 234.8 246.9 257.3 264.7 277.6 136

137 FL343073005 Claims of pension fund on sponsor 1600.5 1732.7 1750.1 1797.7 1785.7 1803.7 1817.8 1827.3 137

138 FL313196005 Other accounts payable 214.0 219.6 228.0 240.9 257.9 256.2 271.5 301.9 138

139 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 139

140 FL313170005 Trade payables 204.8 210.8 219.6 232.9 250.4 249.3 265.1 296.2 140

141 FL313193013 Other (miscellaneous liabilities) 4.0 3.6 3.2 2.8 2.3 1.8 1.2 0.6 141

142 FL312090095 Net worth -6768.1 -8235.6 -9507.8 -10594.6 -11191.5 -11730.0 -12239.0 -12891.9 142

(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 fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land and nonproduced nonfinancial assets.
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S.8.a State and Local Governments (1)

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

 Current account

 1 FA206902505 Gross value added 1419.4 1454.2 1471.4 1496.5 1532.0 1578.2 1630.1 1676.6 1

 2 FA206300003 Less: Consumption of fixed capital 208.2 212.7 222.2 231.9 238.5 245.9 250.6 254.9 2

 3 FA206902605 Equals: Net value added 1211.3 1241.5 1249.2 1264.6 1293.5 1332.3 1379.5 1421.7 3

 4 FA206025001 Compensation of employees (paid) 1232.6 1261.3 1266.5 1275.0 1303.3 1342.2 1389.0 1428.3 4

 5 FA206020001 Wages and salaries 862.9 862.6 863.1 870.6 887.6 912.9 945.2 971.1 5

 6 FA206401005 Employers’ social contributions 369.7 398.7 403.5 404.4 415.8 429.3 443.9 457.2 6

 7 FA206402101 Operating surplus, net -21.4 -19.8 -17.4 -10.4 -9.8 -9.9 -9.6 -6.6 7

 8 FA206140005 Net national income/Balance of primary incomes, net 811.0 829.5 864.6 880.3 914.5 971.2 1000.0 1025.1 8

 9 FA206402101 Operating surplus, net -21.4 -19.8 -17.4 -10.4 -9.8 -9.9 -9.6 -6.6 9

10 FA206240001 Taxes on production and imports, receivable 934.8 960.4 994.0 1016.9 1050.1 1086.2 1115.6 1151.0 10

11 FA206402015 Subsidies (paid) -1.4 -1.6 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 11

12 FA206150195 Property income (received) 87.8 82.6 79.2 75.4 75.4 75.3 76.3 78.2 12

13 FA206130101 Interest 74.4 69.1 64.8 59.8 58.9 58.6 59.4 60.3 13

14 FA206121101 Distributed income of corporations (dividends) 2.1 2.3 2.6 3.3 3.6 3.8 4.2 4.6 14

15 FA206112101 Rents on land and natural resources 11.2 11.2 11.7 12.3 12.9 12.9 12.7 13.3 15

16 FA206130095 Less: Uses of property income (interest paid) 188.8 192.1 190.7 201.2 200.7 180.0 181.7 197.0 16

17 FA206140005 Net national income/Balance of primary incomes, net 811.0 829.5 864.6 880.3 914.5 971.2 1000.0 1025.1 17

18 FA206220005 Plus: Current taxes on income, wealth, etc. (received) 333.4 345.3 374.3 399.2 431.3 440.5 468.6 477.7 18

19 FA206601001 Plus: Social benefits (received) 18.6 18.1 18.2 18.0 18.5 19.6 19.8 20.3 19

20 FA206404001 Less: Social contributions (paid) 492.6 523.8 530.4 540.0 563.4 616.9 664.0 692.6 20

21 FA206403105 Plus: Other current transfers (received) 566.1 612.0 582.1 558.0 571.3 625.0 680.0 695.6 21

22 FA206403001 Less: Other current transfers (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA206012005 Equals: Disposable income, net 1236.4 1281.0 1308.9 1315.5 1372.2 1439.3 1504.4 1526.1 23

24 FA206901001 Less: Final consumption expenditures 1508.4 1518.3 1524.8 1536.3 1562.7 1608.2 1650.8 1693.6 24

25 FA206006095 Equals: Net saving -271.9 -237.3 -215.9 -220.8 -190.5 -168.9 -146.4 -167.4 25

 Capital account

26 FA206006395 Net saving less capital transfers -204.2 -160.6 -142.1 -146.6 -118.9 -98.2 -77.4 -95.0 26

27 FA206006095 Net saving -271.9 -237.3 -215.9 -220.8 -190.5 -168.9 -146.4 -167.4 27

28 FA205440005 Less: Capital transfers paid (net) -67.7 -76.7 -73.8 -74.2 -71.6 -70.7 -69.0 -72.4 28

29 FA205050905 Capital formation, net 167.2 149.7 127.6 107.0 94.4 94.2 103.8 98.4 29

 Gross fixed capital formation (acquisition of

30 FA205019001 produced nonfinancial assets) 363.0 351.9 340.5 329.7 323.9 330.7 344.1 342.7 30

31 FA206300003 Less: Consumption of fixed capital 208.2 212.7 222.2 231.9 238.5 245.9 250.6 254.9 31

32 FA205420003 Acquisition of nonproduced nonfinancial assets 12.3 10.6 9.2 9.1 9.0 9.5 10.2 10.5 32

33 FA205000995 Net lending (+) or borrowing (-), capital account (lines 26-29) -371.4 -310.3 -269.6 -253.6 -213.3 -192.5 -181.2 -193.4 33

 Financial account

34 FA205000995 Net lending (+) or borrowing (-) (line 33) -371.4 -310.3 -269.6 -253.6 -213.3 -192.5 -181.2 -193.4 34

35 FA214090005 Net acquisition of financial assets 111.0 111.1 -27.1 -6.4 70.4 41.5 29.6 152.3 35

36 FA214000005 Currency and deposits 26.2 5.9 34.8 2.6 22.4 27.1 2.2 1.3 36

37 FA213020005 Currency and transferable deposits 14.9 6.0 17.1 -14.9 3.4 14.3 -12.3 -5.3 37

38 FA213030005 Time and savings deposits 11.3 -0.1 17.8 17.5 19.0 12.8 14.5 6.6 38

39 FA214022005 Debt securities 19.5 72.5 -63.0 -21.4 -5.2 -14.7 -10.5 88.2 39

40 FA213069103 Open market paper -32.3 14.5 -12.4 -10.7 -6.0 -9.3 -4.9 0.2 40

41 FA213061105 Treasury securities 2.3 14.2 -34.3 29.2 2.8 23.0 26.0 62.2 41

42 FA213061703 Agency- and GSE-backed securities (2) 36.2 31.7 -14.3 -36.5 -8.9 -28.2 -35.9 15.7 42

43 FA213062003 Municipal securities 1.6 1.6 0.2 -0.3 0.5 -0.0 0.3 0.8 43

44 FA213063003 Corporate and foreign bonds 11.8 10.4 -2.3 -3.2 6.4 -0.2 4.0 9.4 44

45 FA214035005 Loans 21.9 17.9 -4.3 -1.7 16.5 2.7 11.3 19.4 45

46 FA212051003 Short term 2.8 0.8 -4.8 -0.1 7.2 2.2 5.5 7.4 46

47 FA213065005 Long term (mortgages) 19.1 17.1 0.5 -1.5 9.4 0.6 5.8 12.0 47

48 FA213081005 Equity and investment fund shares 23.4 21.5 -1.5 -3.4 13.6 2.0 9.5 16.8 48

49 FA213034003 Money market fund shares 16.9 16.6 2.2 -0.8 8.4 2.1 6.3 9.3 49

50 FA213064103 Corporate equities 2.7 1.3 -3.5 -1.7 3.4 -0.1 2.1 5.0 50

51 FA213064203 Mutual fund shares 3.9 3.6 -0.2 -0.9 1.8 -0.1 1.1 2.6 51

52 FA213096005 Other accounts receivable 19.9 -6.7 6.9 17.4 23.1 24.4 17.1 26.6 52

53 FA213070003 Trade receivables -4.6 13.1 5.6 5.4 9.4 11.1 5.2 16.8 53

54 FA213078005 Taxes receivable -5.8 1.0 2.4 9.5 5.1 8.8 4.4 3.3 54

55 FA213093003 Other (miscellaneous assets) 30.3 -20.7 -1.1 2.6 8.6 4.5 7.4 6.5 55
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56 FA214190005 Net incurrence of liabilities 541.8 385.7 262.6 213.5 298.2 185.8 199.6 302.7 56

57 FA213162005 Debt securities (municipals) 137.3 77.9 -41.1 -1.2 -55.2 -39.0 8.9 30.7 57

58 FA213162400 Short term 7.9 -0.9 -10.6 3.8 -10.9 -6.4 -5.9 -2.8 58

59 FA213162200 Other 129.4 78.8 -30.5 -5.1 -44.3 -32.6 14.8 33.5 59

60 FA213169203 Loans (short term) 0.8 0.9 0.9 0.4 0.5 0.4 0.3 0.9 60

61 FA223073045 Insurance, pension and standardized guarantee schemes 364.8 268.5 264.5 176.3 314.8 185.1 149.9 229.9 61

 (claim of pension funds on sponsor)

62 FA213170003 Other accounts payable (trade payables) 38.9 38.5 38.4 38.1 38.2 39.4 40.5 41.2 62

 Addendum:

63 FA215000005 Net lending (+) or borrowing (-), financial account (lines 35-56) -430.8 -274.6 -289.7 -219.9 -227.8 -144.3 -170.0 -150.4 63

 Other changes in volume account

64 FV218090185 Total other volume changes -20.5 -206.8 -12.4 59.9 -15.0 -7.9 -47.5 6.7 64

65 FV212010095 Disaster losses 0.0 0.0 0.0 -7.6 0.0 0.0 0.0 0.0 65

66 FV218090085 Other volume changes 39.0 -242.5 7.7 33.9 -0.5 -56.1 -58.7 -36.3 66

67 FU217005045 Less: Statistical discrepancy (lines 33-63) (3) 59.5 -35.7 20.1 -33.7 14.5 -48.2 -11.2 -43.0 67

 Revaluation account

68 FR212010095 Nonfinancial assets -105.2 175.7 392.7 225.9 240.2 170.6 39.2 259.6 68

69 FR215015605 Structures -104.3 171.9 389.2 222.6 236.6 166.5 38.7 258.4 69

70 FR215013265 Equipment -1.1 2.4 1.6 1.9 1.7 2.8 0.6 0.6 70

71 FR215013765 Intellectual property products 0.3 1.4 1.9 1.4 1.8 1.2 -0.1 0.6 71

72 FR213081005 Financial assets (equity and investment fund shares) 32.6 21.4 1.8 18.7 37.6 13.7 -1.6 14.3 72

73 FR223073045 Liabilities (claim of pension funds on sponsor) -425.5 -249.2 42.4 -280.5 -498.4 -156.7 109.3 -181.8 73

74 FR218200005 Changes in net worth due to nominal holding gains/losses 352.9 446.4 352.1 525.1 776.2 341.0 -71.7 455.7 74

 Changes in balance sheet account

75 FC212090095 Change in net worth (lines 29+33+64+74) 128.2 79.0 197.7 438.4 642.3 234.8 -196.6 367.3 75

 Balance sheet account (end of period)

76 FL212000095 Total assets 10945.5 11389.1 11872.0 12217.1 12649.3 12959.1 13119.1 13632.9 76

77 LM212010095 Nonfinancial assets (4) 8243.0 8557.5 9068.6 9384.7 9710.3 9965.7 10098.5 10446.0 77

78 LM215015605 Structures 7903.6 8207.7 8711.9 9022.9 9341.5 9589.9 9718.4 10060.1 78

79 LM215013265 Equipment 240.9 245.4 246.5 246.7 247.7 249.5 249.7 251.1 79

80 LM215013765 Intellectual property products 98.5 104.4 110.2 115.2 121.2 126.3 130.4 134.8 80

81 FL214090005 Financial assets 2702.5 2831.6 2803.4 2832.4 2939.0 2993.4 3020.6 3186.9 81

82 FL214000005 Currency and deposits 354.5 360.4 395.2 416.9 439.4 466.5 468.7 470.0 82

83 FL213020005 Currency and transferable deposits 79.0 85.0 102.0 92.4 95.9 110.2 97.9 92.6 83

84 FL213030005 Time and savings deposits 275.6 275.4 293.2 324.5 343.5 356.3 370.8 377.4 84

85 FL214022005 Debt securities 1347.9 1420.4 1357.4 1335.9 1330.7 1316.0 1305.6 1393.7 85

86 FL213069103 Open market paper 90.4 105.0 92.6 81.9 75.9 66.6 61.7 61.9 86

87 FL213061105 Treasury securities 590.5 604.7 570.4 599.6 602.5 625.5 651.4 713.6 87

88 FL213061703 Agency- and GSE-backed securities (2) 496.6 528.3 514.0 477.5 468.5 440.4 404.5 420.2 88

89 FL213062003 Municipal securities 11.6 13.2 13.4 13.2 13.7 13.7 14.0 14.8 89

90 FL213063003 Corporate and foreign bonds 158.8 169.2 166.9 163.7 170.2 170.0 174.0 183.3 90

91 FL214035005 Loans 323.3 337.7 330.6 326.4 341.6 343.5 353.9 373.0 91

92 FL212051003 Short term 127.7 128.5 123.6 123.5 130.7 132.8 138.3 145.7 92

93 FL213065005 Long term (mortgages) 195.6 209.3 206.9 202.9 210.9 210.7 215.6 227.2 93

94 FL213081005 Equity and investment fund shares 301.2 344.1 344.4 359.8 410.9 426.6 434.6 465.7 94

95 FL213034003 Money market fund shares 137.9 154.5 156.6 155.9 164.3 166.4 172.7 182.0 95

96 LM213064103 Corporate equities 114.0 129.7 127.5 138.1 166.4 175.3 176.4 190.8 96

97 LM213064203 Mutual fund shares 49.3 59.9 60.3 65.8 80.3 84.9 85.5 92.9 97

98 FL213096005 Other accounts receivable 375.7 369.0 375.9 393.3 416.4 440.8 457.8 484.5 98

99 FL213070003 Trade receivables 139.1 152.2 157.8 163.2 172.6 183.8 189.0 205.8 99

100 FL213078005 Taxes receivable 116.8 117.8 120.2 129.7 134.8 143.6 148.0 151.3 100

101 FL213093003 Other (miscellaneous assets) 119.7 99.0 97.9 100.4 109.0 113.5 120.9 127.4 101
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2009 2010 2011 2012 2013 2014 2015 2016

 

102 FL212100005 Total liabilities and net worth 10945.5 11389.1 11872.0 12217.1 12649.3 12959.1 13119.1 13632.9 102

103 FL214190005 Liabilities 4961.4 5326.0 5611.3 5518.0 5307.9 5382.8 5739.4 5885.8 103

104 FL213162005 Debt securities (municipals) 3102.5 3180.3 3139.2 3137.9 3082.7 3043.7 3052.6 3083.4 104

105 FL213162400 Short term 64.0 63.1 52.4 56.2 45.3 38.9 33.0 30.2 105

106 FL213162200 Other 3038.5 3117.3 3086.7 3081.7 3037.4 3004.8 3019.6 3053.1 106

107 FL213169203 Loans (short term) 13.5 14.4 15.3 15.7 16.2 16.6 16.9 17.8 107

108 FL223073045 Insurance, pension and standardized guarantee schemes 1214.8 1462.3 1749.4 1618.9 1425.3 1499.5 1806.4 1880.0 108

 (claim of pension funds on sponsor)

109 FL213170003 Other accounts payable (trade payables) 630.5 669.0 707.4 745.5 783.6 823.0 863.5 904.7 109

110 FL212090095 Net worth 5984.1 6063.1 6260.8 6699.2 7341.5 7576.3 7379.7 7747.1 110

(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 the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded 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

2009 2010 2011 2012 2013 2014 2015 2016

 

 Current account

 1 FA266905095 Foreign income from U.S. 2712.0 3115.5 3485.8 3582.1 3620.1 3750.2 3659.7 3660.1 1

 2 FA266903001 U.S. imports of goods and services 1983.2 2365.0 2686.4 2763.8 2768.6 2883.2 2789.0 2735.8 2

 3 FA266904195 U.S. income payments to rest of world 497.8 514.1 546.0 563.9 581.3 612.6 608.4 647.2 3

 4 FA266400101 Current taxes and trans. payments to rest of world 231.0 236.4 253.4 254.3 270.2 254.4 262.3 277.1 4

 5 FA266900095 Less: Foreign outlays to U.S. 2330.1 2669.6 3004.2 3113.9 3234.0 3366.1 3209.1 3199.1 5

 6 FA266903011 U.S. exports of goods and services 1587.7 1852.3 2106.4 2198.2 2276.6 2373.6 2264.9 2214.6 6

 7 FA266904095 U.S. income receipts from rest of world 648.9 720.0 792.6 801.5 825.5 847.2 812.9 844.3 7

 8 FA266400201 Current taxes and trans. receipts from rest of world (1) 93.4 97.2 105.2 114.2 131.8 145.3 131.3 140.3 8

 9 FA266000095 Equals: Net saving (current external balance) 381.9 445.9 481.5 468.2 386.1 384.0 450.6 460.9 9

 Capital account

10 FA266000095 Net saving 381.9 445.9 481.5 468.2 386.1 384.0 450.6 460.9 10

11 FA265440005 Less: Net capital transfers -0.6 -0.7 -1.6 6.5 -0.8 -0.4 -0.4 -0.4 11

12 FA265420095 Less: Acquisition of nonproduced nonfinancial assets 0.0 -0.0 -0.0 -0.1 0.0 -0.0 0.0 0.0 12

13 FA265000905 Net lending (+) or borrowing (-), capital account (lines 10-11-12) 382.5 446.6 483.2 461.7 386.9 384.4 451.0 461.4 13

 Financial account

14 FA265000905 Net lending (+) or borrowing (-) (line 13) 382.5 446.6 483.2 461.7 386.9 384.4 451.0 461.4 14

15 FA264090005 Net acquisition of U.S. financial assets 293.4 1109.3 1069.7 870.6 1118.5 1152.1 550.4 739.9 15

16 FA263011005 Monetary gold and SDRs 47.6 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 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 FA264000005 Currency and deposits -199.3 -10.4 357.0 -28.0 368.8 102.6 -45.6 -6.3 19

20 FA263025003 Currency 12.6 28.3 55.0 57.1 37.7 66.3 38.4 42.3 20

21 FA263027003 Transferable deposits -21.8 1.2 26.8 11.1 13.0 16.6 -5.7 18.7 21

22 FA263030005 Time deposits -73.3 4.9 47.3 38.0 51.5 54.2 -18.6 73.1 22

23 FA264016005 Net interbank items due from U.S. banks -116.8 -44.7 227.8 -134.3 266.6 -34.5 -59.6 -140.4 23

24 FA264022005 Debt securities 160.4 639.4 203.6 495.9 553.6 533.6 406.6 349.1 24

25 FA263069103 Open market paper -48.4 -10.7 0.7 0.1 -0.9 7.7 -2.3 37.0 25

26 FA263061105 Treasury securities 554.4 740.4 355.3 589.7 423.2 320.2 42.7 -99.3 26

27 FA263061705 Agency- and GSE-backed securities (2) -226.0 -66.6 -41.6 -73.6 -83.6 -8.1 24.8 78.4 27

28 FA263062003 Municipal securities 7.7 13.1 0.6 -0.6 4.5 4.3 6.5 7.3 28

29 FA263063005 Corporate bonds -127.3 -36.8 -111.5 -19.7 210.4 209.6 334.9 325.8 29

30 FA264041005 Loans (short term) -98.7 72.2 126.5 -59.5 29.9 136.7 -108.4 62.5 30

31 FA262051003 Security repurchases -54.8 92.4 92.6 -7.2 34.1 105.7 -145.3 66.8 31

32 FA263069500 Loans to U.S. corporate business -44.0 -20.2 33.9 -52.2 -4.2 31.0 36.9 -4.3 32

33 FA263081005 Equity and investment fund shares 377.0 389.5 365.5 450.5 154.6 366.6 289.4 327.3 33

34 FA263034003 Money market fund shares 7.2 -7.1 4.6 22.6 9.2 -0.9 2.3 0.8 34

35 FA263064105 Corporate equities 194.3 130.9 48.1 137.0 -56.5 114.7 -191.3 -194.2 35

36 FA263064203 Mutual fund shares 17.8 55.2 70.7 79.5 -15.4 40.4 1.7 52.4 36

37 FA263092001 Foreign direct investment in the United States 157.7 210.5 242.2 211.5 217.3 212.3 476.7 468.3 37

38 FA263070003 Other accounts receivable 6.3 18.6 17.1 11.6 11.5 12.6 8.4 7.3 38

39 FA264190005 Net incurrence of liabilities 177.1 852.4 617.1 403.4 784.6 876.5 322.8 408.4 39

40 FA313011303 SDR holdings 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.7 40

41 FA264100005 Currency and deposits -39.8 73.4 -197.3 -143.0 28.0 -122.6 -252.3 -88.5 41

42 FA263111503 Official foreign currencies 0.7 0.5 -0.5 0.4 0.3 0.2 0.2 0.1 42

43 FA263111403 Reserve position in IMF (net) 3.4 1.3 18.1 4.0 -3.4 -3.8 -6.5 1.3 43

44 FA263191005 U.S. private deposits -43.9 71.6 -215.0 -147.4 31.1 -119.0 -246.0 -89.9 44

45 FA313091105 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 45

46 FA264122005 Debt securities 236.6 124.7 128.2 160.8 206.1 162.8 -31.3 23.3 46

47 FA263169105 Commercial paper 64.8 17.1 -22.0 48.2 66.3 8.9 54.6 -61.7 47

48 FA263163005 Bonds 171.8 107.6 150.2 112.6 139.8 153.9 -85.9 85.0 48

49 FA264141005 Loans (short term) -466.6 259.9 228.6 -8.4 -54.0 109.2 134.1 154.8 49

50 FA262151003 Security repurchases 86.0 207.9 96.4 36.0 -108.6 17.0 76.3 115.3 50

51 FA263169005 Other loans and advances 0.5 0.3 1.4 5.6 1.4 2.4 -0.1 -2.0 51

52 FA263168005 Depository institution loans n.e.c. -9.6 61.8 31.1 40.9 61.8 88.6 58.5 36.9 52

53 FA713091103 Nonoff. foreign currencies (swap lines) -543.5 -10.2 99.7 -90.9 -8.6 1.3 -0.5 4.6 53
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54 FA263181105 Equity and investment fund shares 398.1 388.4 455.4 393.2 594.7 732.9 473.9 317.3 54

55 FA263164103 Corporate equities 63.7 79.2 7.0 104.0 287.4 431.6 196.9 14.4 55

56 FA313092803 U.S. government equity in IBRD, etc. 1.7 2.3 2.6 2.4 2.2 2.3 2.2 2.0 56

57 FA263192005 U.S. direct investment abroad 309.3 296.3 415.3 338.4 321.9 313.5 281.7 300.5 57

58 FA263194735 Investment by holding companies 23.5 10.6 30.6 -51.5 -16.9 -14.6 -6.9 0.4 58

59 FA263170003 Other accounts payable 0.5 6.0 4.0 0.7 9.8 -5.8 -1.7 0.9 59

 Addendum:

60 FA265000005 Net lending (+) or borrowing (-), financial account (lines 15-39) 116.3 256.9 452.6 467.2 333.8 275.6 227.6 331.4 60

 Other changes in volume account

61 FV268090185 Total other volume changes -251.7 -179.3 -40.1 -0.2 -44.5 -108.9 -220.5 -129.9 61

62 FV268090085 Other volume changes 14.5 10.4 -9.5 -5.7 8.6 0.0 2.9 0.0 62

63 FU267005005 Less: Statistical discrepancy (lines 13-60) (3) 266.2 189.7 30.6 -5.6 53.1 108.9 223.4 129.9 63

 Revaluation account

64 FR264090005 Financial assets 434.4 605.1 185.2 541.5 994.8 680.7 -579.6 461.0 64

65 FR263011005 Monetary gold and SDRs 0.2 -1.0 -0.2 0.1 0.1 -3.2 -2.2 -1.5 65

66 FR264000005 Currency and deposits 0.0 4.2 0.1 -0.0 -0.0 -0.2 -0.3 -0.2 66

67 FR264022005 Debt securities 64.0 132.3 293.5 120.2 -332.0 53.3 -243.1 -26.6 67

68 FR263069103 Open market paper 0.1 -4.3 -0.2 -0.0 -0.6 -1.1 -1.4 -0.5 68

69 FR263061105 Treasury securities -136.8 47.9 190.3 -22.6 -202.6 44.9 -54.1 -40.6 69

70 FR263061705 Agency- and GSE-backed securities -26.2 12.4 23.9 -3.4 -33.8 24.0 -7.9 -6.9 70

71 FR263063005 Corporate bonds 226.9 76.3 79.4 146.3 -95.0 -14.5 -179.6 21.4 71

72 FR263081005 Equity and investment fund shares 369.8 469.5 -108.2 421.2 1326.8 631.1 -333.7 489.5 72

73 FR263064105 Corporate equities 533.3 425.1 -59.7 418.8 1308.9 600.5 -228.3 462.2 73

74 FR263064203 Mutual fund shares 32.7 24.0 -5.4 45.6 73.0 23.1 -17.8 33.8 74

75 FR263092001 Foreign direct investment in the United States -196.1 20.4 -43.1 -43.2 -55.1 7.5 -87.6 -6.4 75

76 FR263070003 Other accounts receivable 0.3 0.1 -0.1 0.0 -0.0 -0.3 -0.3 -0.2 76

77 FR264194005 Liabilities 1325.4 792.2 -686.3 914.3 588.7 -72.7 -432.3 270.3 77

78 FR313011303 SDR holdings 0.2 -1.0 -0.1 0.1 0.1 -3.3 -2.3 -1.5 78

79 FR264100005 Currency and deposits -0.0 -25.2 -22.7 -1.8 -2.6 -12.9 -4.8 -0.6 79

80 FR263111503 Official foreign currencies 0.3 1.1 0.3 -2.3 -2.6 -5.9 -2.8 -0.3 80

81 FR263111403 Reserve position in IMF (net) 0.3 -0.2 -0.5 0.0 0.0 -1.7 -1.1 -0.6 81

82 FR263191005 U.S. private deposits -0.7 -26.1 -22.5 0.5 -0.0 -5.2 -0.8 0.3 82

83 FR263191103 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 83

84 FR263163005 Debt securities (corporate bonds) 179.3 102.5 54.2 146.6 -122.7 54.6 -82.2 41.7 84

85 FR263169205 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 85

86 FR263181105 Equity and investment fund shares 1145.6 716.0 -717.7 769.6 714.0 -110.7 -342.4 230.9 86

87 FR263164103 Corporate equities 1183.2 825.8 -647.3 716.4 863.6 -133.9 -211.4 226.4 87

88 FR263192005 U.S. direct investment abroad -37.5 -109.8 -70.5 53.1 -149.6 23.2 -131.1 4.5 88

89 FR263170003 Other accounts payable 0.1 -0.0 0.0 -0.1 -0.1 -0.5 -0.6 -0.3 89

90 FR265000005 Changes in net worth due to nominal holding gains/losses -891.0 -187.1 871.5 -372.9 406.2 753.4 -147.3 190.7 90

 Changes in balance sheet account

91 FC262090095 Change in net worth (lines 13+61+90) -760.2 80.2 1314.5 88.6 748.7 1028.9 83.1 522.1 91

 Financial balance sheet account (end of period)

92 FL264090005 Total financial assets (4) 14415.3 16129.6 17626.4 19038.4 21148.3 22981.1 22951.8 24152.6 92

93 FL313111303 SDR allocations 55.4 54.4 54.2 54.3 54.4 51.2 48.9 47.5 93

94 FL264000005 Currency and deposits 636.9 630.7 987.8 959.7 1328.5 1430.8 1384.9 1378.4 94

95 FL263025003 Currency 313.8 342.1 397.1 454.2 491.9 558.2 596.6 638.9 95

96 FL263027003 Transferable deposits 47.2 48.4 75.2 86.3 99.4 116.0 110.2 129.0 96

97 FL263030005 Time deposits 299.2 308.2 355.6 393.7 445.1 499.2 480.2 553.0 97

98 FL264016005 Net interbank items due from U.S. banks -23.2 -68.0 159.9 25.4 292.0 257.5 197.9 57.5 98
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184 Z.1, June 7, 2018

S.9.a Rest of the World 

Billions of dollars

2009 2010 2011 2012 2013 2014 2015 2016

 

99 FL264022005 Debt securities 7479.9 8251.6 8748.7 9364.8 9586.9 10173.8 10337.3 10659.8 99

100 LM263069103 Open market paper 117.2 102.1 102.7 102.8 101.3 107.9 104.3 140.8 100

101 LM263061105 Treasury securities 3670.6 4458.8 5004.4 5571.5 5792.6 6157.7 6146.2 6006.3 101

102 LM263061705 Agency- and GSE-backed securities (2) 1150.0 1095.8 1078.2 1001.2 883.8 899.6 916.5 987.9 102

103 FL263062003 Municipal securities 58.7 71.7 72.4 71.8 76.2 80.6 87.0 94.3 103

104 LM263063005 Corporate bonds 2483.5 2523.1 2491.0 2617.6 2732.9 2928.0 3083.3 3430.5 104

105 FL264041005 Loans (short term) 671.9 744.0 874.6 815.2 845.1 981.8 873.4 935.9 105

106 FL262051003 Security repurchases 489.4 581.8 678.5 671.3 705.4 811.1 665.8 732.6 106

107 FL263069500 Loans to U.S. corporate business 182.5 162.3 196.1 143.9 139.7 170.6 207.5 203.3 107

108 FL263081005 Equity and investment fund shares 5478.1 6337.1 6832.3 7704.0 9185.5 10183.2 10138.8 10955.6 108

109 FL263034003 Money market fund shares 76.9 69.8 74.4 96.9 106.2 105.3 107.6 108.3 109

110 LM263064105 Corporate equities 2657.4 3213.5 3397.2 3953.0 5205.4 5920.6 5500.9 5768.9 110

111 LM263064203 Mutual fund shares 183.4 262.5 370.4 495.4 553.1 616.6 600.6 686.7 111

112 LM263092001 Foreign direct investment in the United States 2560.4 2791.4 2990.4 3158.7 3320.9 3540.7 3929.7 4391.6 112

113 LM263070003 Other accounts receivable 93.1 111.8 128.8 140.5 148.0 160.3 168.4 175.5 113

114 FL262100005 Total liabilities and net worth 14415.3 16129.6 17626.4 19038.4 21148.3 22981.1 22951.8 24152.6 114

115 FL264194005 Total liabilities 12231.2 13865.4 14047.7 15371.1 16732.3 17536.1 17423.7 18102.5 115

116 FL313011303 SDR holdings 57.8 56.8 55.0 55.1 55.2 51.9 49.7 48.9 116

117 FL264100005 Currency and deposits 1322.7 1370.8 1150.8 1006.0 1031.4 895.9 638.8 549.7 117

118 FL263111503 Official foreign currencies 50.2 51.8 51.6 49.7 47.4 41.8 39.1 38.9 118

119 FL263111403 Reserve position in IMF (net) 11.4 12.5 30.1 34.2 30.8 25.2 17.6 18.4 119

120 LM263191005 U.S. private deposits 1258.4 1303.9 1066.4 919.5 950.6 826.3 579.5 489.8 120

121 FL313091105 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 121

122 FL264122005 Debt securities 1849.1 2076.3 2258.7 2566.1 2649.5 2866.9 2753.4 2818.4 122

123 FL263169105 Commercial paper 319.1 336.2 314.2 362.4 428.7 437.6 492.3 430.6 123

124 LM263163005 Bonds 1530.0 1740.1 1944.5 2203.7 2220.8 2429.3 2261.1 2387.8 124

125 FL264141005 Loans (short term) 584.5 834.0 1072.5 1069.7 1015.7 1124.9 1256.2 1411.0 125

126 FL262151003 Security repurchases 454.8 663.7 764.7 800.7 692.2 709.1 785.4 900.7 126

127 FL263169005 Other loans and advances 19.3 19.6 21.0 30.2 31.6 34.0 33.8 31.8 127

128 FL263168005 Depository institution loans n.e.c. 100.1 150.5 187.0 229.9 291.7 380.3 435.9 472.9 128

129 FL713091103 Nonoff. foreign currencies (swap lines) 10.3 0.1 99.8 8.9 0.3 1.5 1.0 5.6 129

130 FL263181105 Equity and investment fund shares 8372.1 9476.5 9455.7 10618.5 11927.2 12549.4 12680.9 13229.1 130

131 LM263164103 Corporate equities 3995.3 4900.2 4501.4 5321.9 6472.9 6770.6 6756.2 6997.0 131

132 FL313092803 U.S. government equity in IBRD, etc. 50.5 52.8 55.4 57.8 60.0 62.4 64.6 66.6 132

133 LM263192005 U.S. direct investment abroad 4201.2 4387.8 4732.6 5124.0 5296.4 5633.1 5783.7 6088.7 133

134 FL263194735 Investment by holding companies 125.1 135.6 166.3 114.7 97.9 83.3 76.4 76.8 134

135 LM263170003 Other accounts payable 45.1 51.1 55.1 55.7 53.4 47.0 44.8 45.4 135

136 FL262090095 Net worth (external account) 2184.0 2264.2 3578.7 3667.3 4416.0 5444.9 5528.1 6050.2 136

(1) Prior to 1999, current taxes, contributions for government social insurance, and transfer receipts from the rest of the world (line 8) are not separately displayed, and line 4 includes

 current taxes and transfer payments to the rest of the world net of current taxes, contributions for government social insurance, and transfer receipts from the rest of the world.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded 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.