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F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving less net capital transfers paid 2881.8 3166.2 3694.9 4021.1 4201.5 4029.7 4164.6 4305.7 4306.3 4364.1 4302.5 1

 2 Gross investment 2935.6 2990.2 3239.2 4210.9 4040.8 3762.0 4231.0 3383.9 4786.4 4652.3 3780.6 2

 3 Capital expenditures 3590.9 3761.1 4058.3 4203.3 4431.4 4297.1 4403.6 4495.0 4529.9 4570.3 4654.2 3

 4 Consumer durables 1005.0 1057.2 1129.5 1166.9 1205.6 1170.6 1204.5 1219.6 1227.5 1225.9 1249.7 4

 5 Fixed residential investment 387.0 388.0 443.0 500.5 547.5 536.0 527.1 555.1 572.0 581.7 602.6 5

 6 Fixed nonresidential investment 2137.4 2274.0 2424.0 2464.1 2601.2 2547.7 2583.1 2631.9 2641.9 2635.4 2665.8 6

 7 Inventory change 61.5 41.8 61.8 71.8 77.1 42.7 88.9 88.3 88.5 127.3 136.2 7

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

 9 Net lending (+) or net borrowing (-) -655.2 -770.9 -819.2 7.6 -390.6 -535.2 -172.7 -1111.1 256.6 82.0 -873.5 9

 10 Net acqisition of financial assets 1903.0 1768.9 2358.2 2523.9 2300.9 1601.7 2920.7 1598.5 3082.5 2306.3 2271.7 10

 11 U.S. official reserve assets 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -16.7 -3.6 11

 12 Foreign deposits 13.6 -15.7 -7.3 45.0 -13.1 -46.0 34.9 20.6 -62.0 -58.7 47.9 12

 13 Checkable deposits and currency 270.3 114.8 188.2 286.6 290.0 228.8 307.1 173.0 451.0 -149.0 896.4 13

 14 Time and savings deposits 220.2 404.5 477.5 274.7 452.5 557.8 264.2 142.6 845.3 713.2 8.5 14

 15 Money market fund shares -323.3 -53.6 66.9 71.2 -16.8 -13.7 -5.7 -16.3 -31.3 -184.2 66.6 15

 16 Security repurchase agreements 3.5 -4.3 2.7 2.5 10.5 19.0 20.5 -2.4 5.0 7.9 6.2 16

 17 Debt securities -47.5 -390.3 -224.1 -676.0 -460.0 -1043.1 -275.8 -399.9 -121.4 -240.1 -201.6 17

 18 Open market paper 23.8 -14.0 -15.6 -33.6 -14.1 -10.2 -24.8 -9.8 -11.5 -3.9 3.7 18

 19 Treasury securities 332.2 -268.4 240.4 -156.9 15.1 -470.1 -25.5 -103.8 659.8 -107.9 221.1 19

 20 Agency- and GSE-backed securities -30.6 -93.4 -103.6 -80.0 -213.4 -371.1 -177.4 -83.4 -221.5 -71.3 79.6 20

 21 Municipal securities 42.4 -66.9 -143.6 -56.6 -75.1 -71.3 -63.9 -133.5 -31.7 27.5 -16.7 21

 22 Corporate and foreign bonds -415.3 52.4 -201.7 -348.8 -172.6 -120.4 15.7 -69.4 -516.4 -84.6 -489.2 22

 23 Loans 147.1 127.0 153.6 176.9 172.6 349.5 120.6 210.5 9.7 126.6 2.0 23

 24 Other loans and advances 26.5 2.8 41.9 70.7 54.4 212.9 -12.5 107.0 -90.0 13.3 -103.9 24

 25 Mortgages 0.4 -2.3 -13.1 3.6 19.6 38.8 24.1 2.2 13.1 19.8 3.8 25

 26 Consumer credit 120.2 126.5 124.8 102.6 98.7 97.8 109.0 101.3 86.6 93.6 102.1 26

 27 Corporate equities -166.0 -242.6 -213.5 156.8 55.1 -392.6 410.6 -211.4 414.0 -8.6 -272.4 27

 28 Mutual fund shares 178.9 244.2 470.8 515.2 421.5 588.1 388.2 404.1 305.5 549.9 458.9 28

 29 Trade receivables 146.3 155.1 64.6 306.6 149.5 109.9 171.0 141.8 175.3 163.8 174.4 29

 30 Life insurance reserves 6.2 73.5 -26.6 19.2 45.3 31.3 41.4 46.4 62.2 77.7 37.3 30

 31 Pension entitlements 651.1 539.5 581.3 529.9 532.3 507.0 521.0 532.8 568.3 478.7 515.6 31

 32 Taxes payable 28.1 27.9 30.4 30.8 -13.8 -6.5 38.0 -38.3 -48.2 86.8 52.6 32

 33 Equity in noncorporate business 167.2 171.5 140.5 76.5 39.1 82.3 21.6 37.9 14.5 -4.2 -31.0 33

 34 U.S. direct investment abroad 303.3 403.9 319.2 305.0 311.0 190.9 290.7 321.1 441.1 294.1 282.4 34

 35 Miscellaneous assets 302.5 197.3 329.7 406.4 329.0 442.9 569.5 240.3 63.5 469.1 231.5 35

 36 Net increase in liabilities 2558.2 2539.8 3177.4 2516.3 2691.5 2136.8 3093.4 2709.7 2825.9 2224.4 3145.3 36

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

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

 39 Treasury currency -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 0.0 39

 40 Debt securities 1949.7 1280.9 1512.7 1107.6 1020.1 1097.3 758.9 1002.8 1221.4 409.0 973.9 40

 41 Open market paper 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -40.6 -50.0 41

 42 Treasury securities 1645.3 1137.6 1181.0 857.7 736.0 786.7 481.9 839.4 836.1 -155.3 347.9 42

 43 Agency- and GSE-backed securities 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 2.1 43

 44 Municipal securities 99.7 -52.8 -4.9 -43.2 -18.8 -49.1 -15.5 -58.4 47.6 157.3 52.4 44

 45 Corporate and foreign bonds 179.6 161.6 323.0 279.3 265.1 286.7 234.5 200.4 338.8 448.6 621.5 45

 46 Loans -403.3 31.9 412.9 505.4 822.8 563.8 1000.6 913.7 812.9 665.2 962.0 46

 47 Depository institution loans n.e.c. -53.7 70.7 276.9 126.1 277.2 267.3 381.2 209.2 251.2 361.6 212.9 47

 48 Other loans and advances -7.2 24.3 42.2 97.1 125.0 61.6 167.1 247.8 23.6 -50.2 19.8 48

 49 Mortgages -317.1 -171.6 -75.7 106.2 207.5 58.0 195.7 237.4 338.7 179.3 458.5 49

 50 Consumer credit -25.3 108.6 169.4 175.9 213.1 177.0 256.6 219.3 199.5 174.4 270.7 50

 51 Corporate equities -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -592.0 -591.0 51

 52 Trade payables 200.9 128.4 133.9 185.3 181.7 139.3 218.2 168.6 200.8 152.7 156.5 52

 53 Life insurance reserves 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 0.9 53

 54 Taxes payable 6.4 9.4 9.9 -5.5 6.3 -7.9 12.5 23.2 -2.7 34.2 35.0 54

 55 Equity in noncorporate business 166.4 174.4 133.7 82.1 37.1 78.6 23.2 30.8 15.6 -3.0 -29.9 55

 56 Foreign direct investment in U.S. 157.4 192.7 188.7 185.5 98.0 -424.3 243.6 371.0 201.5 765.9 246.4 56

 57 Miscellaneous liabilities 731.0 1175.4 1130.2 809.0 912.6 1192.1 1108.9 633.6 716.0 794.4 1391.5 57

 58 Discrepancy -53.8 176.0 455.7 -189.8 160.7 267.7 -66.4 921.8 -480.1 -288.1 521.9 58

(1) Sum of domestic nonfinancial sectors shown on tables F.101 through F.107.
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F.101 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Personal income 12477.1 13254.5 13915.1 14068.4 14694.2 14433.5 14612.8 14774.8 14955.7 15079.8 15221.3 1

 2 - Personal current taxes 1239.3 1453.2 1511.4 1672.8 1780.2 1736.0 1754.1 1792.0 1838.8 1900.1 1927.1 2

 3 = Disposable personal income 11237.9 11801.4 12403.7 12395.6 12913.9 12697.5 12858.7 12982.7 13116.8 13179.8 13294.1 3

 4 - Personal outlays 10607.9 11091.2 11457.0 11805.7 12293.7 12060.3 12235.2 12377.0 12502.5 12492.2 12660.2 4

 5 = Personal saving, NIPA (2) 630.0 710.1 946.7 589.9 620.2 637.2 623.5 605.7 614.3 687.6 633.9 5

 6 + Government insurance and pension reserves (3) -3.2 -2.4 -2.5 -2.2 -2.0 -2.9 -1.0 -2.7 -1.5 -2.5 -1.3 6

 7 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.9 4.4 4.6 5.2 5.1 5.1 5.1 5.1 5.1 5.2 5.2 7

 8 + Net investment in consumer durables 86.9 119.0 167.1 181.5 202.2 177.8 206.2 212.2 212.5 244.2 260.7 8

 9 + Consumption of fixed capital 1314.0 1336.5 1367.0 1412.5 1458.1 1440.7 1449.2 1464.8 1477.8 1446.3 1454.9 9

 10 - Net capital transfers paid (4) -20.6 2.0 -5.1 19.8 9.3 20.7 19.6 -21.4 18.5 19.9 20.7 10

 11 = Gross saving less net capital transfers paid 2043.3 2156.8 2478.8 2156.7 2264.1 2227.1 2253.2 2296.4 2279.5 2350.4 2322.3 11

 12 Gross investment 2311.0 2826.8 2695.0 2613.3 2525.4 2426.7 2525.0 2117.2 3032.5 3118.7 2003.5 12

 13 Capital expenditures 1448.9 1501.3 1627.0 1717.1 1793.4 1730.3 1784.4 1820.2 1838.8 1849.1 1887.7 13

 14 Consumer durable goods 1005.0 1057.2 1129.5 1166.9 1205.6 1170.6 1204.5 1219.6 1227.5 1225.9 1249.7 14

 15 Residential 318.3 321.1 367.9 424.6 456.6 437.4 449.5 461.2 478.1 488.9 499.8 15

 16 Nonprofit nonresidential 134.1 130.8 137.4 133.7 139.7 130.7 138.8 147.8 141.6 142.5 146.5 16

 17 Nonproduced nonfinancial assets -8.5 -7.8 -7.9 -8.2 -8.4 -8.4 -8.4 -8.4 -8.4 -8.3 -8.3 17

 18 Net lending (+) or net borrowing (-) 862.1 1325.5 1068.0 896.2 731.9 696.4 740.6 297.0 1193.7 1269.6 115.8 18

 19 Net acquisition of financial assets 756.5 1255.4 1333.6 1140.2 1149.8 941.6 1445.7 715.6 1496.1 1516.2 668.6 19

 20 Foreign deposits 4.5 -9.9 -7.9 2.3 -6.4 -4.8 -4.7 11.6 -27.7 -6.1 -18.7 20

 21 Checkable deposits and currency 38.9 300.3 177.0 120.7 107.6 372.9 164.0 -50.3 -56.3 185.6 245.3 21

 22 Time and savings deposits 162.8 369.3 411.9 205.5 408.0 458.1 221.8 249.7 702.5 652.7 -91.1 22

 23 Money market fund shares -183.2 -21.1 0.3 25.5 -33.6 102.5 19.6 -68.5 -188.0 -134.9 68.9 23

 24 Debt securities -75.4 -202.1 -218.3 -614.5 -464.4 -1027.5 -325.9 -345.0 -159.2 -293.5 -148.8 24

 25 Open market paper -1.5 -1.8 -0.6 -3.8 -0.1 3.5 0.9 -0.6 -4.2 1.4 1.7 25

 26 Treasury securities 316.3 -229.7 190.9 -151.1 -19.8 -471.6 -83.9 -120.3 596.4 -157.3 255.7 26

 27 Agency- and GSE-backed securities -10.0 40.4 -57.8 -53.7 -200.1 -372.6 -189.8 -38.7 -199.2 -61.5 99.4 27

 28 Municipal securities 43.6 -65.8 -144.7 -55.8 -67.2 -57.7 -56.7 -121.8 -32.5 19.0 -17.1 28

 29 Corporate and foreign bonds -423.8 54.7 -206.0 -350.1 -177.2 -129.1 3.6 -63.6 -519.7 -95.1 -488.6 29

 30 Loans 1.6 -5.0 12.8 51.2 54.1 224.0 -18.3 102.1 -91.4 1.4 -118.6 30

 31 Other loans and advances (5) 22.9 -1.9 39.5 63.5 51.8 205.8 -16.2 106.8 -89.0 9.8 -111.2 31

 32 Mortgages -10.9 0.9 -17.9 -6.0 8.0 23.1 2.3 2.6 4.0 -1.7 -0.3 32

 33 Consumer credit (student loans) -10.4 -3.9 -8.8 -6.3 -5.7 -4.9 -4.4 -7.3 -6.4 -6.7 -7.1 33

 34 Corporate equities (6) -190.3 -279.5 -202.7 160.8 54.4 -396.6 405.1 -204.0 413.0 -13.7 -272.7 34

 35 Mutual fund shares 164.7 257.3 471.3 513.8 404.8 570.3 369.5 390.3 289.3 531.7 443.6 35

 36 Life insurance reserves 6.2 73.5 -26.6 19.2 45.3 31.3 41.4 46.4 62.2 77.7 37.3 36

 37 Pension entitlements (7) 651.1 539.5 581.3 529.9 532.3 507.0 521.0 532.8 568.3 478.7 515.6 37

 38 Equity in noncorporate business 167.2 171.5 140.5 76.5 39.1 82.3 21.6 37.9 14.5 -4.2 -31.0 38

 39 Miscellaneous assets 8.3 61.6 -6.1 49.3 8.5 22.0 30.6 12.6 -31.2 41.0 38.9 39

 40 Net increase in liabilities -105.7 -70.1 265.5 244.0 417.8 245.1 705.2 418.6 302.4 246.6 552.8 40

 41 Debt securities (municipal securities) -2.2 -7.8 -14.5 -13.1 -4.8 -1.0 -2.3 -9.8 -6.0 -0.4 -13.3 41

 42 Loans -76.7 -63.2 275.4 253.2 418.2 237.9 698.5 429.1 307.4 240.9 561.1 42

 43 Home mortgages (8) -182.2 -73.1 -68.7 4.8 44.5 -18.3 43.7 46.9 105.5 0.2 206.1 43

 44 Consumer credit -25.3 108.6 169.4 175.9 213.1 177.0 256.6 219.3 199.5 174.4 270.7 44

 45 Depository institution loans n.e.c. (9) 50.1 -54.9 110.8 30.0 120.2 153.3 166.7 93.0 67.9 119.3 29.9 45

 46 Other loans and advances 77.6 -37.4 66.1 37.4 33.2 -75.5 225.6 61.0 -78.3 -59.0 44.6 46

 47 Commercial mortgages 3.0 -6.3 -2.3 5.0 7.3 1.4 6.0 8.9 12.9 6.0 9.9 47

 48 Trade payables -29.4 1.2 4.0 1.0 3.1 4.0 3.6 1.9 3.0 1.4 1.8 48

 49 Deferred and unpaid life insurance premiums 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 3.2 49

 50 Discrepancy -267.7 -670.0 -216.2 -456.5 -261.3 -199.6 -271.7 179.2 -753.0 -768.2 318.8 50

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

 outstandings of nonprofit organizations.

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

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

(4) Table F.5, line 63.

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

(6) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 34) and life insurance reserves (line 36), and pension entitlements (line 37).

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

(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 23.

(9) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.109, line 21.
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F.102 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Income before taxes 2206.6 2311.0 2652.7 2777.8 2890.5 2793.7 2899.7 2942.8 2925.9 2991.5 3091.1 1

 2 Gross saving less net capital transfers paid 1951.3 1995.1 2034.3 2170.7 2205.6 2082.1 2172.8 2290.5 2277.1 2203.7 2188.5 2

 3 Gross investment 1655.2 1200.9 1300.1 1888.3 1718.5 1696.4 1798.7 1552.9 1826.0 1565.4 1835.2 3

 4 Capital expenditures 1480.6 1613.5 1809.8 1886.8 2034.9 1974.7 2013.9 2072.7 2078.5 2118.8 2264.4 4

 5 Fixed investment 1420.1 1572.3 1747.2 1814.0 1956.6 1932.1 1924.7 1979.4 1990.2 1992.3 2008.3 5

 6 Residential 58.8 58.4 69.0 69.5 85.2 92.7 71.7 88.2 88.3 87.4 97.2 6

 7 Nonresidential 1361.4 1513.9 1678.2 1744.5 1871.4 1839.4 1853.0 1891.2 1902.0 1905.0 1911.1 7

 8 Change in inventories 61.5 41.8 61.8 71.8 77.1 42.7 88.9 88.3 88.5 127.3 136.2 8

 9 Nonproduced nonfinancial assets -1.1 -0.5 0.8 1.0 1.2 -0.2 0.3 4.9 -0.2 -0.8 120.0 9

 10 Net lending (+) or net borrowing (-) 174.7 -412.6 -509.7 1.5 -316.5 -278.3 -215.2 -519.8 -252.5 -553.4 -429.3 10

 11 Net acquisition of financial assets 784.7 693.6 807.5 1149.2 903.9 488.4 1249.1 768.5 1109.7 903.9 988.8 11

 12 Foreign deposits 9.1 -5.8 0.6 42.7 -6.7 -41.2 39.7 9.0 -34.2 -52.6 66.6 12

 13 Checkable deposits and currency 76.8 55.5 13.7 89.0 106.0 -114.6 246.9 130.9 160.7 140.3 109.8 13

 14 Time and savings deposits 62.8 19.2 43.4 51.8 36.7 75.4 33.9 -109.7 147.2 33.6 103.4 14

 15 Money market fund shares -154.6 -34.6 60.1 42.0 10.1 -126.9 -39.5 55.5 151.1 -61.9 -4.2 15

 16 Security repurchase agreements 4.3 0.4 -2.9 -0.9 4.7 10.1 8.7 -0.2 0.1 -2.6 4.2 16

 17 Debt securities 18.0 -7.4 -8.2 -20.3 -14.5 -25.0 -20.0 -9.3 -3.7 -23.4 56.2 17

 18 Commercial paper 12.0 -0.1 -8.4 -21.3 -6.6 -8.4 -21.5 2.7 0.9 0.1 11.7 18

 19 Treasury securities 7.0 -4.2 0.5 4.9 -2.1 -7.6 1.9 0.0 -2.7 -22.6 34.2 19

 20 Agency- and GSE-backed securities 1.7 -1.7 -1.2 -2.9 2.4 5.2 7.7 -0.8 -2.4 -8.6 10.0 20

 21 Municipal securities -2.6 -1.4 0.8 -1.0 -8.3 -14.2 -8.1 -11.2 0.5 7.7 0.3 21

 22 Loans 0.1 -4.4 -2.8 -1.4 2.2 5.9 10.4 2.6 -10.0 3.8 23.1 22

 23 Mortgages 2.6 -6.4 -4.3 2.8 3.5 2.4 3.7 3.3 4.7 3.9 4.5 23

 24 Consumer credit -2.5 2.0 1.5 -4.2 -1.3 3.5 6.7 -0.7 -14.7 -0.1 18.5 24

 25 Mutual fund shares 11.1 -12.8 -1.7 1.0 15.4 15.4 15.4 15.4 15.4 15.4 15.4 25

 26 Trade receivables 133.9 144.7 56.6 294.5 138.8 98.8 156.7 137.4 162.5 158.9 164.8 26

 27 U.S. direct investment abroad 303.3 403.9 319.2 305.0 311.0 190.9 290.7 321.1 441.1 294.1 282.4 27

 28 Miscellaneous assets 319.8 134.9 329.5 345.8 300.4 399.8 506.4 215.8 79.6 398.3 167.1 28

 29 Net increase in liabilities 610.0 1106.2 1317.2 1147.7 1220.4 766.7 1464.4 1288.2 1362.2 1457.3 1418.1 29

 30 Debt securities 237.3 203.6 352.3 302.8 303.0 363.4 278.0 225.2 345.3 439.2 608.1 30

 31 Commercial paper 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -40.6 -50.0 31

 32 Municipal securities 33.2 8.5 15.2 9.3 -0.1 1.7 -14.3 2.6 9.7 31.2 36.6 32

 33 Corporate bonds 179.6 161.6 323.0 279.3 265.1 286.7 234.5 200.4 338.8 448.6 621.5 33

 34 Loans -327.5 94.2 137.0 251.7 404.1 325.6 301.6 484.3 505.1 424.0 400.7 34

 35 Depository institution loans n.e.c. -103.8 125.6 166.1 96.1 157.0 113.9 214.5 116.2 183.3 242.4 183.1 35

 36 Other loans and advances -85.7 60.8 -24.3 59.1 91.4 136.8 -59.0 186.5 101.5 8.4 -24.8 36

 37 Mortgages -137.9 -92.2 -4.7 96.4 155.7 74.9 146.0 181.7 220.3 173.2 242.5 37

 38 Corporate equities -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -592.0 -591.0 38

 39 Trade payables 186.6 80.0 78.4 126.6 121.4 86.7 151.0 104.1 143.7 110.7 90.6 39

 40 Taxes payable 6.4 9.4 9.9 -5.5 6.3 -7.9 12.5 23.2 -2.7 34.2 35.0 40

 41 Foreign direct investment in U.S. 157.4 192.7 188.7 185.5 98.0 -424.3 243.6 371.0 201.5 765.9 246.4 41

 42 Miscellaneous liabilities 434.1 806.6 762.0 557.4 638.1 846.4 727.6 483.9 494.6 278.3 658.3 42

 43 Proprietors’ net investment 166.4 174.4 133.7 82.1 37.1 78.6 23.2 30.8 15.6 -3.0 -29.9 43

 44 Discrepancy 296.1 794.2 734.2 282.4 487.2 385.7 374.1 737.7 451.1 638.3 353.3 44

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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F.103 Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Profits before tax (book) 1039.2 1008.9 1241.4 1323.2 1366.1 1317.0 1377.3 1405.1 1365.2 1436.8 1523.7 1

 2 - Taxes on corporate income 220.6 228.8 266.7 284.6 316.2 303.4 315.5 321.8 324.2 341.4 361.0 2

 3 - Net dividends 375.5 441.0 517.9 525.2 573.8 588.9 585.8 542.7 577.9 588.6 581.9 3

 4 + Capital consumption allowance (1) 1077.3 1236.1 1107.0 1141.7 1192.2 1175.6 1184.2 1197.4 1211.7 1031.4 1046.9 4

 5 = U.S. internal funds, book 1520.4 1575.2 1563.8 1655.1 1668.3 1600.3 1660.2 1738.0 1674.7 1538.2 1627.7 5

 6 + Foreign earnings retained abroad 218.2 215.1 189.8 222.1 236.1 237.5 233.8 233.7 239.4 260.0 230.4 6

 7 + Inventory valuation adjustment (IVA) -41.0 -68.3 -14.2 3.2 -2.9 -56.9 -24.0 15.5 53.5 99.2 21.1 7

 8 - Net capital transfers paid (2) 20.9 -6.4 -17.0 -5.7 -6.7 -7.4 -6.9 -4.3 -8.1 -3.0 -4.3 8

 9 = Total internal funds + IVA 1676.7 1728.5 1756.4 1886.1 1908.2 1788.3 1876.9 1991.6 1975.8 1900.4 1883.6 9

 10 Gross investment 1380.6 934.3 1022.2 1603.8 1421.0 1402.6 1502.8 1254.0 1524.7 1262.1 1530.3 10

 11 Capital expenditures 1235.4 1331.9 1501.2 1539.4 1667.3 1611.4 1647.1 1704.5 1706.3 1738.7 1887.0 11

 12 Fixed investment (3) 1178.6 1297.4 1434.7 1483.2 1602.9 1576.2 1574.4 1628.0 1633.1 1634.7 1651.8 12

 13 Inventory change + IVA 57.9 34.9 65.8 55.2 63.2 35.4 72.4 71.6 73.4 104.8 115.2 13

 14 Nonproduced nonfinancial assets -1.1 -0.5 0.8 1.0 1.2 -0.2 0.3 4.9 -0.2 -0.8 120.0 14

 15 Net lending (+) or net borrowing (-) 145.2 -397.5 -479.0 64.3 -246.3 -208.8 -144.3 -450.6 -181.5 -476.6 -356.7 15

 16 Net acquisition of financial assets 632.7 496.8 506.3 1069.0 672.7 402.2 1005.7 572.3 710.6 633.5 689.8 16

 17 Foreign deposits 9.1 -5.8 0.6 42.7 -6.7 -41.2 39.7 9.0 -34.2 -52.6 66.6 17

 18 Checkable deposits and currency 79.6 30.8 -45.5 85.5 71.1 -130.0 209.2 99.9 105.2 115.1 73.3 18

 19 Time and savings deposits 59.9 13.2 33.3 41.0 10.5 69.1 13.4 -125.8 85.4 -38.9 73.6 19

 20 Money market fund shares -157.7 -35.4 57.1 39.7 6.0 -128.3 -43.9 52.0 144.2 -66.8 -8.7 20

 21 Security repurchase agreements 4.3 0.4 -2.9 -0.9 4.7 10.1 8.7 -0.2 0.1 -2.6 4.2 21

 22 Debt securities 15.6 -8.5 -12.5 -22.0 -17.5 -26.0 -23.3 -11.8 -8.8 -27.0 51.5 22

 23 Commercial paper 12.0 -0.1 -8.4 -21.3 -6.6 -8.4 -21.5 2.7 0.9 0.1 11.7 23

 24 Treasury securities 5.1 -5.1 -3.5 3.3 -4.7 -8.5 -1.0 -2.3 -7.2 -25.8 29.9 24

 25 Agency- and GSE-backed securities 1.7 -1.7 -1.2 -2.9 2.4 5.2 7.7 -0.8 -2.4 -8.6 10.0 25

 26 Municipal securities -3.2 -1.6 0.6 -1.1 -8.6 -14.3 -8.5 -11.5 0.0 7.3 -0.1 26

 27 Loans -4.1 1.4 -0.4 -2.4 0.5 5.3 8.5 1.1 -12.9 1.8 20.3 27

 28 Mortgages -1.6 -0.6 -1.9 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 28

 29 Consumer credit -2.5 2.0 1.5 -4.2 -1.3 3.5 6.7 -0.7 -14.7 -0.1 18.5 29

 30 Mutual fund shares 11.1 -12.8 -1.7 1.0 15.4 15.4 15.4 15.4 15.4 15.4 15.4 30

 31 Trade receivables 96.9 83.7 52.0 277.2 108.8 88.7 123.8 111.5 111.4 122.7 116.8 31

 32 U.S. direct investment abroad (4) 303.3 403.9 319.2 305.0 311.0 190.9 290.7 321.1 441.1 294.1 282.4 32

 33 Miscellaneous assets 214.8 25.8 107.1 302.2 168.9 348.4 363.4 100.3 -136.4 272.4 -5.6 33

 34 Insurance receivables 11.7 12.3 8.0 -5.8 10.0 6.2 17.4 15.0 1.4 -8.9 5.7 34

 35 Equity in GSEs 0.1 -0.0 0.0 0.0 0.1 0.6 -0.2 -0.0 0.1 0.3 -0.1 35

 36 Investment in finance co. subs. 26.7 8.4 2.6 14.7 14.1 66.9 -4.8 -6.5 0.7 -7.3 -15.3 36

 37 Other 176.3 5.2 96.5 293.2 144.7 274.6 351.0 91.9 -138.7 288.4 4.1 37

 38 Net increase in liabilities 487.6 894.3 985.3 1004.7 919.0 611.1 1150.0 1022.9 892.1 1110.1 1046.6 38

 39 Debt securities 237.3 203.6 352.3 302.8 303.0 363.4 278.0 225.2 345.3 439.2 608.1 39

 40 Commercial paper 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -40.6 -50.0 40

 41 Municipal securities (5) 33.2 8.5 15.2 9.3 -0.1 1.7 -14.3 2.6 9.7 31.2 36.6 41

 42 Corporate bonds (4) 179.6 161.6 323.0 279.3 265.1 286.7 234.5 200.4 338.8 448.6 621.5 42

 43 Loans -308.0 91.0 11.8 129.5 186.2 253.4 65.8 288.0 137.5 197.1 66.5 43

 44 Depository institution loans n.e.c. -87.0 92.1 108.0 50.1 85.9 91.7 106.9 94.5 50.3 117.7 68.3 44

 45 Other loans and advances (6) -90.4 60.2 -33.5 53.1 82.0 146.8 -74.8 172.6 83.4 29.4 -44.0 45

 46 Mortgages -130.6 -61.3 -62.7 26.3 18.3 14.8 33.7 20.9 3.8 49.9 42.3 46

 47 Corporate equities -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -592.0 -591.0 47

 48 Trade payables 156.3 25.2 65.4 106.7 87.6 73.5 111.2 74.2 91.5 63.3 45.4 48

 49 Taxes payable 7.2 8.8 2.3 -9.1 0.1 -10.0 5.7 17.8 -13.2 16.8 25.1 49

 50 Foreign direct investment in U.S. 157.0 192.7 188.3 184.9 97.1 -425.2 242.8 370.2 200.8 762.4 245.0 50

 51 Miscellaneous liabilities 488.5 827.6 710.2 642.7 632.6 857.8 719.6 481.8 471.1 223.4 647.4 51

 52 Pension fund contributions payable 15.4 3.0 -12.3 -2.5 -1.1 -2.8 -0.9 1.5 -2.0 6.7 1.2 52

 53 Claims of pension fund on sponsor -32.1 -19.5 -11.6 110.9 54.4 -17.0 80.8 44.8 109.2 -22.3 50.2 53

 54 Other 505.2 844.1 734.2 534.3 579.2 877.6 639.7 435.5 364.0 239.0 596.1 54

 55 Discrepancy 296.1 794.2 734.2 282.4 487.2 385.7 374.1 737.7 451.1 638.3 353.3 55

 Memo:

 56 Financing gap (7) -244.0 -175.1 -48.4 -118.9 1.9 67.9 10.8 -49.0 -22.0 101.3 238.2 56

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

(2) Table F.5, line 58.

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

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

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

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

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
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Z.1, September 18, 2015 17

F.104 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving = consumption of fixed capital 266.9 265.0 273.0 284.5 297.5 293.8 295.9 298.9 301.3 303.3 304.9 1

 2 Gross saving less net capital transfers paid (1) 274.7 266.6 277.9 284.5 297.5 293.8 295.9 298.9 301.3 303.3 304.9 2

 3 Gross investment 274.7 266.6 277.9 284.5 297.5 293.8 295.9 298.9 301.3 303.3 304.9 3

 4 Capital expenditures 245.1 281.7 308.6 347.4 367.6 363.3 366.8 368.1 372.2 380.1 377.4 4

 5 Fixed investment (2) 241.5 274.8 312.6 330.8 353.7 355.9 350.3 351.4 357.1 357.6 356.4 5

 6 Change in inventories 3.6 6.8 -4.0 16.6 13.9 7.4 16.6 16.7 15.1 22.5 21.0 6

 7 Net lending (+) or net borrowing (-) 29.5 -15.1 -30.7 -62.8 -70.1 -69.5 -70.9 -69.2 -70.9 -76.8 -72.5 7

 8 Net acquisition of financial assets 152.0 196.9 301.1 80.2 231.2 86.2 243.5 196.1 399.1 270.4 299.0 8

 9 Checkable deposits and currency -2.7 24.6 59.3 3.5 34.9 15.4 37.6 31.1 55.5 25.2 36.5 9

 10 Time and savings deposits 2.9 6.0 10.1 10.8 26.2 6.3 20.5 16.1 61.7 72.5 29.8 10

 11 Money market mutual funds 3.1 0.8 3.0 2.3 4.0 1.4 4.4 3.5 6.9 4.9 4.5 11

 12 Debt securities 2.5 1.1 4.2 1.7 3.0 1.0 3.2 2.6 5.0 3.6 4.7 12

 13 Treasury securities 1.9 0.8 4.0 1.5 2.7 0.9 2.9 2.3 4.5 3.2 4.2 13

 14 Municipal securities 0.5 0.3 0.2 0.2 0.3 0.1 0.3 0.3 0.5 0.4 0.5 14

 15 Loans 4.2 -5.8 -2.4 1.0 1.7 0.6 1.9 1.5 2.9 2.0 2.7 15

 16 Mortgages 4.2 -5.8 -2.4 1.0 1.7 0.6 1.9 1.5 2.9 2.0 2.7 16

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

 18 Trade receivables 37.0 61.0 4.6 17.3 30.0 10.1 32.9 26.0 51.1 36.3 48.0 18

 19 Miscellaneous assets 105.0 109.1 222.4 43.6 131.4 51.4 142.9 115.4 216.0 125.9 172.7 19

 20 Insurance receivables 29.9 -4.7 15.4 -25.3 12.4 9.8 14.9 14.2 10.7 -20.6 -16.1 20

 21 Equity investment in GSEs (3) 0.4 0.3 0.1 0.6 0.8 1.1 0.3 0.7 0.9 0.4 0.5 21

 22 Other 74.7 113.5 206.9 68.3 118.3 40.6 127.7 100.5 204.5 146.1 188.3 22

 23 Net increase in liabilities 122.4 211.9 331.8 143.0 301.4 155.6 314.4 265.4 470.0 347.1 371.5 23

 24 Loans -19.4 3.2 125.2 122.1 217.9 72.3 235.8 196.3 367.6 226.9 334.2 24

 25 Depository institution loans n.e.c. -16.8 33.5 58.1 45.9 71.1 22.2 107.6 21.7 133.0 124.7 114.8 25

 26 Other loans and advances 4.7 0.6 9.2 6.1 9.4 -9.9 15.8 13.8 18.1 -21.0 19.2 26

 27 Mortgages -7.3 -30.9 58.0 70.1 137.4 60.0 112.4 160.7 216.5 123.3 200.2 27

 28 Trade payables 30.3 54.8 13.1 19.9 33.8 13.3 39.8 29.9 52.1 47.4 45.1 28

 29 Taxes payable -0.7 0.6 7.6 3.6 6.2 2.1 6.8 5.3 10.5 17.5 9.9 29

 30 Foreign direct investment in U.S. 0.3 0.0 0.4 0.6 0.8 0.8 0.9 0.9 0.8 3.6 1.4 30

 31 Miscellaneous liabilities -54.3 -21.0 51.8 -85.3 5.6 -11.4 8.0 2.1 23.5 54.9 10.9 31

 32 Proprietors’ net investment 166.4 174.4 133.7 82.1 37.1 78.6 23.2 30.8 15.6 -3.0 -29.9 32

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

(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 16 respectively.

(3) Equity in the Farm Credit System.
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18 Z.1, September 18, 2015

F.105 General Government (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Current receipts, NIPA basis 4441.8 4604.6 4756.2 5277.8 5490.3 5383.2 5471.3 5545.8 5560.8 5638.5 5720.6 1

 2 Personal current taxes 1239.3 1453.2 1511.4 1672.8 1780.2 1736.0 1754.1 1792.0 1838.8 1900.1 1927.1 2

 3 Taxes on production and imports 1057.1 1102.6 1132.1 1178.0 1213.7 1196.1 1210.2 1221.7 1227.0 1226.8 1239.5 3

 4 Taxes on corporate income 346.3 349.6 415.6 434.7 476.2 461.0 490.0 480.5 473.3 480.0 507.9 4

 5 Taxes from the rest of the world 15.7 16.7 18.1 19.3 21.7 23.0 20.3 22.4 21.2 24.6 24.7 5

 6 Contributions for govt. social insurance 989.0 922.2 956.2 1112.0 1164.1 1149.6 1156.3 1168.0 1182.3 1191.0 1195.8 6

 7 Income receipts on assets 137.2 135.6 128.0 237.5 150.5 178.7 150.6 133.6 139.0 122.8 123.2 7

 8 Current transfer receipts 680.1 649.2 614.1 642.3 702.1 656.4 708.2 746.0 697.7 709.8 718.5 8

 9 Current surplus of government enterprises -22.9 -24.5 -19.3 -18.8 -18.3 -17.6 -18.4 -18.4 -18.6 -16.6 -16.1 9

 10 Current expenditures, NIPA basis 6007.8 6064.7 6067.1 6105.8 6289.4 6191.7 6261.5 6361.8 6342.7 6368.2 6466.4 10

 11 Consumption expenditures 2522.2 2530.9 2544.1 2522.0 2556.3 2538.7 2549.0 2578.7 2558.6 2556.2 2565.4 11

 12 Government social benefits 2298.3 2327.3 2341.5 2404.3 2506.6 2453.5 2490.6 2534.0 2548.5 2603.2 2630.3 12

 13 Other current transfer payments 558.8 530.1 499.3 504.0 547.2 521.8 535.0 566.1 565.7 583.9 567.1 13

 14 Interest payments 572.7 616.4 624.0 616.2 621.4 619.5 629.0 624.8 612.5 567.3 645.2 14

 15 Subsidies 55.9 60.1 58.0 59.4 57.9 58.1 57.9 58.2 57.5 57.6 58.4 15

 16 Net saving, NIPA basis -1566.0 -1460.1 -1310.8 -828.0 -799.2 -808.5 -790.2 -816.1 -781.9 -729.7 -745.8 16

 17 + Consumption of fixed capital 458.1 479.6 496.2 506.2 516.8 513.1 515.5 518.4 520.2 520.8 520.3 17

 18 - Insurance and pension fund reserves (2) -3.2 -2.4 -2.5 -2.2 -2.0 -2.9 -1.0 -2.7 -1.5 -2.5 -1.3 18

 19 - Net capital transfers (3) 8.1 7.6 6.1 -13.3 -12.2 -12.9 -12.3 -13.8 -10.0 -16.5 -15.9 19

 20 = Gross saving less net capital transfers -1112.8 -985.7 -818.2 -306.3 -268.1 -279.6 -261.5 -281.2 -250.3 -190.0 -208.2 20

 21 Gross investment -1030.6 -1037.6 -755.9 -290.6 -203.0 -361.2 -92.6 -286.2 -72.1 -31.8 -58.1 21

 22 Fixed investment 651.8 637.9 614.4 592.3 595.8 583.5 597.2 598.7 603.9 593.3 613.9 22

 23 Nonproduced nonfinancial assets 9.6 8.3 7.2 7.2 7.2 8.6 8.1 3.5 8.6 9.1 -111.9 23

 24 Net lending (+) or net borrowing (-) -1692.1 -1683.8 -1377.5 -890.1 -806.1 -953.3 -698.0 -888.4 -684.6 -634.2 -560.1 24

 25 Net acquisition of financial assets 361.8 -180.1 217.2 234.5 247.2 171.7 225.9 114.4 476.8 -113.7 614.3 25

 26 U.S. official reserve assets 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -16.7 -3.6 26

 27 Checkable deposits and currency 154.6 -241.0 -2.5 76.9 76.4 -29.5 -103.8 92.3 346.6 -474.9 541.4 27

 28 Time and savings deposits -5.4 15.9 22.2 17.4 7.8 24.3 8.5 2.6 -4.3 26.9 -3.8 28

 29 Money market fund shares 14.5 2.1 6.5 3.6 6.8 10.7 14.2 -3.3 5.5 12.6 1.9 29

 30 Security repurchase agreements -0.8 -4.7 5.6 3.4 5.9 8.9 11.7 -2.2 4.9 10.5 2.0 30

 31 Debt securities 9.9 -180.8 2.4 -41.2 18.9 9.5 70.2 -45.7 41.5 76.8 -108.9 31

 32 Open market paper 13.4 -12.2 -6.6 -8.5 -7.4 -5.3 -4.2 -11.9 -8.2 -5.3 -9.7 32

 33 Treasury securities 8.8 -34.4 49.1 -10.7 37.0 9.0 56.5 16.5 66.1 72.0 -68.8 33

 34 Agency- and GSE-backed securities -22.3 -132.1 -44.7 -23.4 -15.7 -3.6 4.8 -44.0 -20.0 -1.2 -29.8 34

 35 Municipal securities 1.4 0.2 0.4 0.1 0.4 0.7 1.0 -0.5 0.3 0.8 -0.0 35

 36 Corporate and foreign bonds 8.5 -2.3 4.3 1.3 4.5 8.7 12.1 -5.8 3.2 10.4 -0.6 36

 37 Loans 145.4 136.4 143.7 127.1 116.3 119.7 128.6 105.8 111.1 121.5 97.5 37

 38 Mortgages 8.6 3.2 9.1 6.8 8.0 13.4 18.1 -3.7 4.3 17.7 -0.5 38

 39 Consumer credit 133.1 128.5 132.1 113.1 105.7 99.2 106.7 109.3 107.7 100.3 90.7 39

 40 Other loans and advances 3.6 4.8 2.4 7.2 2.5 7.1 3.7 0.2 -0.9 3.5 7.4 40

 41 Corporate equities 24.2 36.9 -10.8 -4.1 0.8 4.1 5.4 -7.4 1.0 5.1 0.3 41

 42 Mutual fund shares 3.0 -0.2 1.2 0.4 1.3 2.4 3.3 -1.6 0.9 2.9 -0.1 42

 43 Trade receivables 12.4 10.4 8.0 12.1 10.7 11.1 14.3 4.4 12.8 4.9 9.6 43

 44 Taxes receivable 28.1 27.9 30.4 30.8 -13.8 -6.5 38.0 -38.3 -48.2 86.8 52.6 44

 45 Miscellaneous assets -25.5 0.9 6.2 11.3 20.1 21.1 32.5 11.9 15.1 29.9 25.5 45

 46 Net increase in liabilities 2053.9 1503.7 1594.7 1124.6 1053.3 1125.0 923.9 1002.8 1161.4 520.5 1174.4 46

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

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

 49 Treasury currency -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 0.0 49

 50 Debt securities 1714.6 1085.1 1174.9 817.9 721.9 734.9 483.2 787.5 882.1 -29.8 379.1 50

 51 Treasury securities 1645.3 1137.6 1181.0 857.7 736.0 786.7 481.9 839.4 836.1 -155.3 347.9 51

 52 Municipal securities 68.7 -53.6 -5.7 -39.4 -14.0 -49.9 1.1 -51.2 43.9 126.5 29.1 52

 53 Loans 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 0.1 53

 54 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Other loans and advances 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 0.1 55

 56 Trade payables 43.7 47.2 51.5 57.7 57.2 48.5 63.6 62.5 54.1 40.5 64.2 56

 57 Insurance reserves 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 0.9 57

 58 Miscellaneous liabilities 294.2 369.3 367.6 248.6 273.3 341.5 376.0 152.3 223.3 511.5 730.0 58

 59 Discrepancy -82.2 51.8 -62.3 -15.7 -65.1 81.6 -168.8 5.0 -178.2 -158.2 -150.2 59

 Memo:

 60 Net acquisition of financial assets (consolidated) (4) 352.1 -146.5 167.7 244.7 209.8 162.5 168.9 97.6 410.2 -186.1 683.0 60

 61 Net increase in liabilities (consolidated) (4) 2044.2 1537.3 1545.2 1134.7 1015.9 1115.8 866.9 986.0 1094.8 448.1 1243.0 61

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

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

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

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

(4) Excludes Treasury securities held by state and local governments (line 33) and federal government loans to state and local governments (line 55).
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F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Current receipts, NIPA basis 2443.3 2574.1 2699.1 3141.3 3265.2 3215.5 3256.3 3293.4 3295.7 3356.5 3420.8 1

 2 Personal current taxes 941.6 1129.1 1164.7 1300.6 1396.9 1359.3 1380.2 1406.5 1441.7 1501.0 1516.0 2

 3 Taxes on production and imports 96.8 108.6 115.1 125.8 137.8 136.5 137.1 139.0 138.8 140.5 145.3 3

 4 Taxes on corporate income 298.7 299.4 363.1 379.2 417.9 403.2 432.6 421.9 413.9 419.0 448.0 4

 5 Taxes from the rest of the world 15.7 16.7 18.1 19.3 21.7 23.0 20.3 22.4 21.2 24.6 24.7 5

 6 Contributions for govt. social insurance 970.9 904.0 938.1 1093.4 1145.2 1130.7 1137.4 1149.1 1163.5 1172.2 1177.0 6

 7 Income receipts on assets 54.6 56.4 52.6 163.2 74.8 103.8 75.1 57.7 62.5 45.7 45.4 7

 8 Current transfer receipts 68.1 67.1 56.1 71.1 80.6 68.5 83.4 106.5 63.8 61.6 72.4 8

 9 Current surplus of government enterprises -3.1 -7.1 -8.9 -11.3 -9.7 -9.5 -9.9 -9.6 -9.8 -8.1 -8.0 9

 10 Current expenditures, NIPA basis 3772.0 3818.3 3789.1 3782.2 3896.7 3834.7 3886.3 3943.5 3922.4 3935.8 4014.4 10

 11 Consumption expenditures 1003.9 1006.1 1007.8 961.3 955.3 952.9 950.9 968.2 949.1 956.7 957.3 11

 12 Government social benefits 1774.4 1796.9 1801.5 1842.0 1896.8 1868.4 1894.8 1905.5 1918.3 1955.5 1974.9 12

 13 Other current transfer payments 558.8 530.1 499.3 504.0 547.2 521.8 535.0 566.1 565.7 583.9 567.1 13

 14 Interest payments 380.6 425.7 422.9 416.1 440.1 433.8 448.2 445.9 432.3 382.6 457.2 14

 15 Subsidies 54.3 59.5 57.6 58.9 57.4 57.6 57.4 57.7 57.0 57.1 57.9 15

 16 Net saving, NIPA basis -1328.7 -1244.1 -1090.1 -640.9 -631.5 -619.2 -630.0 -650.1 -626.7 -579.3 -593.6 16

 17 + Consumption of fixed capital 245.3 257.4 264.3 267.7 270.7 269.6 270.2 271.2 271.9 272.0 271.2 17

 18 - Insurance and pension reserves (1) -3.2 -2.4 -2.5 -2.2 -2.0 -2.9 -1.0 -2.7 -1.5 -2.5 -1.3 18

 19 - Net capital transfers paid (2) 84.8 81.5 80.2 58.1 58.8 57.2 59.6 61.1 57.2 52.5 52.7 19

 20 = Gross saving less net capital transfers paid -1165.0 -1065.8 -903.5 -429.1 -417.5 -403.8 -418.4 -437.3 -410.5 -357.3 -373.8 20

 21 Gross investment -1115.9 -1055.9 -840.5 -392.6 -368.9 -463.1 -263.5 -468.1 -281.1 -232.8 -148.6 21

 22 Fixed investment 300.0 297.4 284.7 269.4 264.6 261.8 266.0 264.9 265.6 261.5 263.4 22

 23 Nonproduced nonfinancial assets -1.0 -0.9 -2.0 -2.4 -2.7 -1.2 -1.8 -6.5 -1.3 -0.7 -121.6 23

 24 Net lending (+) or net borrowing (-) -1414.9 -1352.4 -1123.2 -659.5 -630.8 -723.7 -527.6 -726.5 -545.4 -493.7 -290.4 24

 25 Net acquisition of financial assets 281.9 -150.7 126.5 221.5 160.2 86.9 46.1 146.9 361.1 -262.4 661.6 25

 26 U.S. official reserve assets 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -16.7 -3.6 26

 27 Checkable deposits and currency 148.9 -257.6 6.7 69.6 60.8 -36.0 -104.1 73.3 309.8 -450.1 522.6 27

 28 Time and savings deposits 0.1 -0.3 0.2 -0.5 0.2 -0.1 -0.0 0.4 0.6 -0.6 1.1 28

 29 Debt securities -46.9 -118.2 -31.3 -0.1 -0.0 -0.0 -0.1 0.0 0.0 0.0 -0.1 29

 30 Agency- and GSE-backed securities -47.2 -118.1 -31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Corporate and foreign bonds 0.3 -0.1 -0.2 -0.1 -0.0 -0.0 -0.1 0.0 0.0 0.0 -0.1 31

 32 Loans 131.4 136.5 136.2 124.2 110.0 108.2 112.8 112.4 106.5 107.2 97.6 32

 33 Other loans and advances 3.6 4.8 2.4 7.2 2.5 7.1 3.7 0.2 -0.9 3.5 7.4 33

 34 Mortgages -5.4 3.3 1.6 4.0 1.7 1.9 2.3 2.9 -0.3 3.5 -0.5 34

 35 Consumer credit (3) 133.1 128.5 132.1 113.1 105.7 99.2 106.7 109.3 107.7 100.3 90.7 35

 36 Corporate equities (4) 24.1 40.3 -13.2 -4.8 -1.6 -0.6 -1.1 -4.2 -0.7 -0.4 0.6 36

 37 Trade receivables -0.7 4.8 2.6 3.3 2.2 8.2 -0.0 -2.7 3.2 0.2 -0.6 37

 38 Taxes receivable 27.1 25.6 22.0 27.2 -19.9 0.1 15.6 -39.2 -56.3 79.8 22.9 38

 39 Miscellaneous assets -3.6 2.0 -1.0 5.9 12.5 11.0 19.9 11.0 8.2 18.2 21.1 39

 40 Net increase in liabilities 1696.7 1201.7 1249.7 881.0 791.0 810.6 573.7 873.4 906.4 231.3 952.0 40

 41 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

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

 43 Treasury currency -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 0.0 43

 44 Debt securities 1645.9 1138.7 1180.6 857.3 735.9 784.7 482.1 838.7 838.2 -156.3 350.0 44

 45 Treasury securities (5) 1645.3 1137.6 1181.0 857.7 736.0 786.7 481.9 839.4 836.1 -155.3 347.9 45

 46 Marketable 1590.0 1083.4 1121.9 806.2 646.7 715.0 404.4 745.7 721.5 146.9 879.7 46

 47 Nonmarketable 55.3 54.2 59.1 51.4 89.4 71.6 77.5 93.7 114.7 -302.2 -531.8 47

 48 Budget agency securities 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 2.1 48

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

 50 Trade payables 5.2 8.8 13.4 19.7 18.4 10.2 24.7 23.5 15.2 2.4 25.1 50

 51 Insurance reserves 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 0.9 51

 52 Miscellaneous liabilities 45.0 53.0 55.4 4.1 36.2 15.7 66.3 11.0 51.7 387.2 576.0 52

 53 Claims of pension fund on sponsor 20.2 20.8 50.4 -9.3 22.8 11.5 32.6 10.5 36.6 402.2 567.1 53

 54 Other 24.9 32.1 5.0 13.4 13.4 4.2 33.7 0.6 15.1 -14.9 8.9 54

 55 Discrepancy -49.1 -9.9 -63.0 -36.6 -48.6 59.3 -154.9 30.8 -129.4 -124.5 -225.1 55

 Memo:

 56 Change in cash balance (6) 148.9 -258.0 7.5 69.6 62.1 -79.0 -6.4 78.0 255.8 -492.4 622.8 56

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

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

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

 the government purchased from depository institutions and finance companies.

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

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

(6) Time and savings deposits (line 28) plus checkable deposits and currency at the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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F.107 State and Local Governments (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Current receipts, NIPA basis 1998.5 2030.5 2057.2 2136.5 2225.0 2167.7 2214.9 2252.3 2265.1 2282.0 2299.8 1

 2 Personal current taxes 297.6 324.1 346.7 372.2 383.3 376.8 373.8 385.6 397.1 399.1 411.1 2

 3 Taxes on production and imports 960.4 994.0 1016.9 1052.2 1075.9 1059.6 1073.1 1082.7 1088.1 1086.3 1094.3 3

 4 Taxes on corporate income 47.7 50.2 52.5 55.5 58.3 57.8 57.4 58.7 59.4 61.1 59.9 4

 5 Contributions for govt. social insurance 18.1 18.2 18.0 18.6 18.9 18.9 18.9 18.9 18.8 18.8 18.8 5

 6 Income receipts on assets 82.6 79.2 75.4 74.3 75.7 74.9 75.5 75.9 76.5 77.1 77.8 6

 7 Current transfer receipts 612.0 582.1 558.0 571.2 621.5 587.9 624.7 639.5 634.0 648.2 646.0 7

 8 Current surplus of government enterprises -19.8 -17.4 -10.4 -7.5 -8.6 -8.1 -8.5 -8.8 -8.9 -8.5 -8.1 8

 9 Current expenditures, NIPA basis 2235.8 2246.4 2277.9 2323.6 2392.7 2357.0 2375.2 2418.4 2420.3 2432.4 2452.0 9

 10 Consumption expenditures 1518.3 1524.8 1536.3 1560.7 1601.0 1585.8 1598.2 1610.5 1609.5 1599.5 1608.1 10

 11 Govt. social benefit payments to persons 523.8 530.4 540.0 562.3 609.9 585.1 595.8 628.4 630.2 647.7 655.4 11

 12 Other current transfer payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Interest payments 192.1 190.7 201.2 200.1 181.4 185.7 180.8 178.9 180.1 184.7 187.9 13

 14 Subsidies 1.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 14

 15 Net saving, NIPA basis -237.3 -215.9 -220.8 -187.1 -167.7 -189.3 -160.2 -166.0 -155.2 -150.4 -152.2 15

 16 + Consumption of fixed capital 212.7 222.2 231.9 238.5 246.1 243.5 245.3 247.2 248.3 248.8 249.1 16

 17 - Net capital transfers paid (2) -76.7 -73.8 -74.2 -71.4 -71.0 -70.1 -71.9 -74.9 -67.2 -69.0 -68.7 17

 18 = Gross saving less net capital transfers paid 52.2 80.1 85.3 122.8 149.4 124.2 156.9 156.1 160.2 167.3 165.5 18

 19 Gross investment 85.2 18.3 84.5 101.9 165.9 101.9 170.8 181.9 209.0 201.1 90.6 19

 20 Fixed investment 351.9 340.5 329.7 322.9 331.3 321.7 331.3 333.8 338.3 331.8 350.5 20

 21 Nonproduced nonfinancial assets 10.6 9.2 9.1 9.6 9.9 9.9 9.9 10.0 9.9 9.8 9.8 21

 22 Net lending (+) or net borrowing (-) -277.2 -331.4 -254.4 -230.6 -175.3 -229.6 -170.4 -161.8 -139.3 -140.5 -269.6 22

 23 Net acquisition of financial assets 80.0 -29.4 90.6 13.0 87.0 84.8 179.8 -32.5 115.7 148.7 -47.3 23

 24 Checkable deposits and currency 5.7 16.6 -9.2 7.3 15.6 6.5 0.3 19.0 36.8 -24.8 18.8 24

 25 Time and savings deposits -5.5 16.2 22.1 17.9 7.6 24.4 8.5 2.2 -4.9 27.5 -4.9 25

 26 Money market fund shares 14.5 2.1 6.5 3.6 6.8 10.7 14.2 -3.3 5.5 12.6 1.9 26

 27 Security repurchase agreements -0.8 -4.7 5.6 3.4 5.9 8.9 11.7 -2.2 4.9 10.5 2.0 27

 28 Debt securities 56.8 -62.6 33.7 -41.1 18.9 9.5 70.2 -45.7 41.5 76.8 -108.9 28

 29 Open market paper 13.4 -12.2 -6.6 -8.5 -7.4 -5.3 -4.2 -11.9 -8.2 -5.3 -9.7 29

 30 Treasury securities 8.8 -34.4 49.1 -10.7 37.0 9.0 56.5 16.5 66.1 72.0 -68.8 30

 31 Agency- and GSE-backed securities 24.9 -14.0 -13.6 -23.4 -15.7 -3.6 4.8 -44.0 -20.0 -1.2 -29.8 31

 32 Municipal securities 1.4 0.2 0.4 0.1 0.4 0.7 1.0 -0.5 0.3 0.8 -0.0 32

 33 Corporate and foreign bonds 8.2 -2.2 4.5 1.4 4.6 8.7 12.2 -5.8 3.2 10.4 -0.5 33

 34 Loans (mortgages) 14.0 -0.1 7.5 2.9 6.3 11.4 15.8 -6.6 4.6 14.2 -0.0 34

 35 Corporate equities 0.2 -3.4 2.4 0.8 2.4 4.6 6.5 -3.1 1.7 5.6 -0.3 35

 36 Mutual fund shares 3.0 -0.2 1.2 0.4 1.3 2.4 3.3 -1.6 0.9 2.9 -0.1 36

 37 Trade receivables 13.1 5.6 5.3 8.9 8.5 2.9 14.3 7.1 9.6 4.7 10.2 37

 38 Taxes receivable 1.0 2.3 8.4 3.6 6.2 -6.7 22.4 0.8 8.1 7.0 29.6 38

 39 Miscellaneous assets -22.0 -1.1 7.2 5.4 7.6 10.1 12.6 0.9 6.9 11.7 4.4 39

 40 Net increase in liabilities 357.1 302.0 345.0 243.5 262.2 314.4 350.2 129.4 255.0 289.2 222.4 40

 41 Debt securities (municipal securities) 68.7 -53.6 -5.7 -39.4 -14.0 -49.9 1.1 -51.2 43.9 126.5 29.1 41

 42 Short-term (3) -0.7 -10.6 3.8 -10.9 -6.7 -6.2 7.3 -23.4 -4.4 0.6 12.6 42

 43 Long-term 69.3 -42.9 -9.4 -28.6 -7.4 -43.7 -6.2 -27.8 48.3 125.9 16.5 43

 44 Loans (U.S. government loans) 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 0.1 44

 45 Trade payables 38.5 38.4 38.1 38.0 38.8 38.3 38.8 39.0 38.9 38.1 39.1 45

 46 Claims of pension fund on sponsor (4) 249.1 316.3 312.2 244.4 237.1 325.8 309.7 141.2 171.7 124.2 154.0 46

 47 Discrepancy -33.1 61.8 0.8 20.9 -16.5 22.3 -13.9 -25.8 -48.7 -33.7 74.9 47

(1) Data for state and local government employee retirement funds are shown in table F.120.

(2) Table F.5, line 62.

(3) Debt with original maturity of 13 months or less.

(4) Included in miscellaneous liabilities.
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F.108 Domestic Financial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving less net capital transfers paid 375.1 319.6 297.8 179.0 265.3 242.6 286.5 248.6 283.3 223.0 268.0 1

 2 Gross investment 168.1 244.7 266.7 394.4 261.7 16.1 239.4 604.7 186.4 521.4 425.0 2

 3 Capital expenditures 166.8 173.9 197.4 220.9 230.0 208.2 239.7 233.5 238.8 244.8 235.6 3

 4 Fixed residential investment 4.0 6.5 5.3 14.7 7.4 -3.6 19.7 5.4 8.2 11.7 1.0 4

 5 Fixed nonresidential investment 162.8 167.5 192.1 206.1 222.6 211.8 220.0 228.1 230.6 233.2 234.7 5

 6 Net lending (+) or net borrowing (-) 1.3 70.7 69.3 173.6 31.6 -192.1 -0.3 371.3 -52.4 276.5 189.4 6

 7 Net acqisition of financial assets 82.2 2229.0 1836.7 3576.9 3087.6 4208.8 3414.9 2528.6 2198.0 3101.8 1436.8 7

 8 U.S. official reserve assets 0.3 -0.3 0.2 0.2 0.2 0.2 0.1 0.5 0.1 0.1 0.1 8

 9 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury currency 0.9 0.7 0.6 0.7 0.8 1.0 0.9 0.8 0.5 1.5 1.1 10

 11 Foreign deposits 8.7 -62.9 0.4 -9.6 -9.6 -57.3 29.0 -13.7 3.6 0.8 -8.8 11

 12 Net interbank assets -106.9 603.0 -64.1 760.1 131.5 784.2 49.9 331.9 -640.2 244.1 -771.8 12

 13 Checkable deposits and currency -32.4 37.2 9.9 -4.1 -19.5 -82.7 29.7 119.1 -144.0 -15.3 -103.8 13

 14 Time and savings deposits -109.5 -47.7 4.9 82.0 13.7 81.9 50.8 52.4 -130.2 97.3 47.0 14

 15 Money market fund shares -172.8 -63.8 -82.4 -53.5 21.1 -78.4 -132.7 39.7 256.0 139.0 -36.4 15

 16 Federal funds and security repos 270.7 114.6 265.4 -379.7 45.9 33.2 324.2 -322.6 148.6 36.6 13.6 16

 17 Debt securities 787.1 1268.5 1093.8 1546.7 1233.3 1459.8 1271.8 1234.8 966.9 559.9 171.1 17

 18 Open market paper -93.5 -75.0 -1.2 34.5 -14.8 59.3 91.0 -128.9 -80.6 -14.7 115.1 18

 19 Treasury securities 572.7 1050.7 350.8 589.7 403.5 755.6 128.5 698.4 31.7 91.8 -438.9 19

 20 Agency- and GSE-backed securities 50.9 114.2 154.5 403.2 369.0 237.4 465.0 226.9 546.7 -28.1 10.7 20

 21 Municipal securities 44.2 13.5 139.2 9.1 51.9 19.4 46.6 69.7 72.0 121.5 56.2 21

 22 Corporate and foreign bonds 212.7 165.1 450.5 510.2 423.7 388.2 540.7 368.6 397.1 389.4 428.0 22

 23 Loans -682.5 -66.5 267.4 549.1 786.0 487.5 958.6 790.3 907.7 644.2 1052.3 23

 24 Depository institution loans n.e.c. -86.0 177.6 176.9 196.5 320.0 347.7 319.7 229.1 383.5 437.6 294.7 24

 25 Other loans and advances -134.5 -70.2 103.6 168.8 150.0 28.9 313.3 202.6 55.3 -51.1 122.3 25

 26 Mortgages -316.6 -155.8 -57.8 110.3 201.7 31.8 178.1 240.7 356.1 176.8 466.7 26

 27 Consumer credit -145.5 -17.9 44.7 73.4 114.4 79.1 147.5 117.9 112.9 80.9 168.6 27

 28 Corporate equities 58.1 -85.0 5.9 -4.1 111.6 -109.7 37.7 261.0 257.3 286.0 293.1 28

 29 Mutual fund shares 133.0 19.4 64.4 143.3 125.7 145.5 118.5 89.3 149.5 68.7 112.0 29

 30 Trade receivables -8.6 -0.8 -1.6 -2.2 1.1 13.6 13.6 -13.6 -9.1 21.3 12.6 30

 31 Life insurance reserves 8.2 7.7 14.7 10.8 10.9 10.4 11.2 9.8 12.2 9.4 12.6 31

 32 U.S. direct investment abroad -2.3 15.2 20.5 23.6 26.0 40.3 12.7 42.3 8.6 8.1 65.5 32

 33 Miscellaneous assets -69.9 489.8 236.8 913.7 608.7 1479.4 638.8 -93.5 410.3 1000.3 576.7 33

 34 Net increase in liabilities 80.9 2158.3 1767.3 3403.3 3055.9 4400.9 3415.1 2157.3 2250.4 2825.2 1247.4 34

 35 Net interbank liabilities -142.8 820.5 -194.5 1129.1 115.0 1427.3 8.7 403.0 -1379.0 501.8 -1054.2 35

 36 Checkable deposits and currency 266.3 234.5 267.7 332.6 351.1 226.2 501.5 307.4 369.2 -140.3 873.5 36

 37 Time and savings deposits 115.6 404.1 520.4 409.1 513.2 704.6 452.4 180.5 715.3 836.9 -18.4 37

 38 Money market fund shares -503.2 -112.8 7.1 28.9 9.6 -95.7 -142.0 30.7 245.4 -58.4 25.0 38

 39 Federal funds and security repos 213.4 184.3 208.6 -384.1 6.3 10.0 369.9 -555.1 200.4 -29.2 -163.7 39

 40 Debt securities -695.4 -327.4 -306.4 108.1 178.6 -335.1 336.6 325.7 387.3 -195.6 317.6 40

 41 Open market paper -102.2 -68.2 -58.8 -48.9 -36.6 -69.0 16.6 57.9 -151.8 -121.4 170.0 41

 42 Agency- and GSE-backed securities -46.9 -21.9 -22.4 239.9 150.6 -273.8 208.1 214.5 453.5 -158.2 216.1 42

 43 Corporate and foreign bonds -546.3 -237.4 -225.2 -82.9 64.6 7.7 111.9 53.3 85.5 84.0 -68.5 43

 44 Loans -176.6 17.9 -80.1 175.9 154.5 274.0 18.5 234.4 91.2 36.1 59.5 44

 45 Depository institution loans n.e.c. -56.2 63.6 -130.4 31.4 14.2 25.5 -117.9 50.5 98.7 35.0 37.7 45

 46 Other loans and advances -121.2 -59.2 45.4 136.8 126.6 235.9 129.9 178.4 -37.9 -16.1 9.9 46

 47 Mortgages 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.3 11.9 47

 48 Corporate equities 191.4 164.1 168.4 162.5 219.5 37.1 298.9 177.0 365.1 299.3 158.5 48

 49 Mutual fund shares 370.1 338.4 624.9 638.4 595.2 764.7 630.2 568.9 417.0 656.7 493.6 49

 50 Trade payables -52.0 -3.8 -0.0 0.3 3.4 1.0 11.9 8.4 -7.8 5.0 17.7 50

 51 Life insurance reserves 13.6 79.9 -12.2 29.8 55.5 41.8 52.1 55.0 73.1 89.1 49.0 51

 52 Pension entitlements 651.1 539.5 581.3 529.9 532.3 507.0 521.0 532.8 568.3 478.7 515.6 52

 53 Taxes payable 13.0 10.7 6.9 17.7 15.9 46.7 27.8 -10.1 -0.8 35.4 -53.2 53

 54 Equity in noncorporate business 0.9 -2.9 6.7 -5.6 2.0 3.8 -1.6 7.0 -1.1 -1.1 -1.1 54

 55 Foreign direct investment in U.S. 48.5 43.4 5.1 31.1 13.6 13.6 12.3 21.1 7.5 27.3 9.9 55

 56 Miscellaneous liabilities -233.0 -232.1 -36.6 199.6 290.2 774.0 316.9 -129.3 199.2 283.5 18.0 56

 57 Discrepancy 207.0 74.9 31.1 -215.5 3.6 226.5 47.0 -356.1 96.9 -298.3 -157.0 57

(1) Sum of financial sectors shown on tables F.109 through F.131.
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F.109 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving -8.5 -0.2 -17.5 -0.9 5.7 -3.8 2.1 12.6 11.8 8.3 11.3 1

 2 Fixed nonresidential investment 0.7 0.6 0.8 0.6 0.7 0.6 0.7 0.7 0.7 0.7 0.7 2

 3 Net acquisition of financial assets 185.5 493.6 9.7 1118.8 481.6 922.1 543.3 291.4 169.7 -10.5 -23.3 3

 4 U.S. official reserve assets 0.3 -0.3 0.2 0.2 0.2 0.2 0.1 0.5 0.1 0.1 0.1 4

 5 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency 0.9 0.7 0.6 0.7 0.8 1.0 0.9 0.8 0.5 1.5 1.1 6

 7 Federal Reserve float (2) 0.7 0.8 0.1 -0.5 0.4 1.7 0.1 -1.6 1.4 -0.8 1.3 7

 8 Interbank loans (2) -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 0.5 8

 9 Discount window (3) -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 0.5 9

 10 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Debt securities 316.3 444.0 64.5 1086.6 480.7 911.2 538.6 299.9 173.2 21.6 -11.5 12

 13 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Treasury securities 244.9 642.0 2.7 542.6 252.6 498.9 310.2 184.4 16.9 48.4 -8.1 14

 15 Treasury bills 0.0 0.0 -18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Other Treasury securities 244.9 642.0 21.1 542.6 252.6 498.9 310.2 184.4 16.9 48.4 -8.1 16

 17 Agency- and GSE-backed securities 71.4 -197.9 61.8 543.9 228.1 412.3 228.4 115.5 156.3 -26.8 -3.4 17

 18 Mortgage-backed securities 83.8 -154.5 89.0 563.5 246.7 451.8 243.2 130.1 161.6 -19.6 0.5 18

 19 Other agency- and GSE-baked securities -12.4 -43.5 -27.2 -19.6 -18.5 -39.5 -14.7 -14.6 -5.3 -7.2 -3.9 19

 20 Loans (depository institution loans n.e.c.) -44.8 -67.6 -29.9 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 0.0 0.0 20

 21 Households (TALF) (5) -22.8 -15.7 -8.5 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 0.0 0.0 21

 22 Brokers and dealers (6) 6.2 31.0 -9.2 10.4 12.0 19.0 4.7 9.8 14.3 1.4 6.0 22

 23 Funding corporations (7) -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Corporate equities (8) 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets 7.3 142.4 -25.6 32.3 -0.5 8.2 3.3 -8.8 -4.8 -32.4 -14.8 26

 27 Nonofficial foreign currencies (9) -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 -0.7 27

 28 Other 17.5 42.7 65.3 40.9 -1.8 7.7 4.4 -9.3 -9.9 -29.5 -14.1 28

 29 Net increase in liabilities 184.6 493.2 9.3 1118.7 480.6 919.9 542.9 291.2 168.2 -11.5 -24.6 29

 30 Depository institution reserves -8.9 594.2 -71.2 758.0 128.9 781.0 46.1 328.0 -639.4 237.1 -779.3 30

 31 Vault cash of depository institutions -2.2 8.1 7.1 2.6 2.0 1.7 3.2 4.8 -1.5 8.1 5.6 31

 32 Checkable deposits and currency 185.0 -122.1 62.1 139.5 152.2 -39.3 65.5 206.6 376.0 -440.3 711.3 32

 33 Due to federal government 149.0 -255.0 7.0 69.8 61.0 -78.7 -7.4 75.8 254.4 -491.2 621.8 33

 34 Treasury cash holdings -0.1 -0.0 0.0 0.1 -0.0 0.2 -0.5 0.1 0.2 -0.0 -0.4 34

 35 Treasury general deposit account -45.9 -55.0 7.0 69.7 61.1 -78.9 -6.9 75.8 254.2 -491.2 622.2 35

 36 Treasury temporary supplementary financing account 195.0 -200.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Due to government-sponsored enterprises -21.6 51.1 -37.4 -1.3 -5.8 -60.3 1.4 62.9 -27.0 3.0 29.4 37

 38 Due to rest of the world 0.9 -3.2 6.3 1.5 -2.7 -4.0 -4.1 -2.8 0.0 -0.1 0.1 38

 39 Currency outside banks 56.7 85.0 86.2 69.5 99.7 103.6 75.7 70.7 148.7 48.0 60.0 39

 40 Security repurchase agreements -18.0 40.2 7.3 208.7 193.9 100.4 461.9 -185.5 398.8 108.1 85.2 40

 41 Reverse repurchase agreement operations (10) 0.0 0.0 0.0 197.8 199.0 177.3 389.6 -157.9 386.8 -72.9 56.4 41

 42 Other -18.0 40.2 7.3 11.0 -5.0 -76.9 72.3 -27.6 12.0 180.9 28.8 42

 43 Miscellaneous liabilities 28.7 -27.2 4.0 9.8 3.5 76.1 -33.9 -62.7 34.3 75.5 -47.4 43

 44 Federal Reserve Bank stock 0.9 0.4 0.5 0.1 1.1 2.2 0.4 0.1 1.5 1.0 1.2 44

 45 Other 27.8 -27.5 3.5 9.7 2.4 74.0 -34.4 -62.8 32.7 74.5 -48.7 45

 46 Discrepancy -10.0 -1.2 -18.8 -1.6 3.9 -6.6 1.0 11.8 9.6 6.7 9.4 46

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table F.203.

(3) Federal Reserve loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF.

(7) Includes loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, AIG, Maiden Lane III LLC, and the Commercial Paper Funding Facility LLC.

(8) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(9) Reciprocal currency arrangements (swap lines) with foreign central banks.

(10) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).
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Z.1, September 18, 2015 23

F.110 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving less net capital transfers paid (2) 144.6 75.8 6.6 20.9 -27.5 4.2 -24.9 -71.3 -18.0 -34.2 -61.0 1

 2 Fixed nonresidential investment 35.7 25.1 27.6 24.7 26.5 21.2 25.9 27.9 30.9 31.9 32.6 2

 3 Net lending (+) or net borrowing (-) -24.5 -14.5 -70.2 49.7 -117.7 -345.3 -99.4 174.6 -200.7 172.2 95.4 3

 4 Net acquisition of financial assets -193.2 840.5 500.1 993.4 972.1 1754.4 1129.2 837.3 167.3 1427.3 165.0 4

 5 Vault cash -2.2 8.1 7.1 2.6 2.0 1.7 3.2 4.8 -1.5 8.1 5.6 5

 6 Reserves at Federal Reserve -8.9 594.2 -71.2 758.0 128.9 781.0 46.1 328.0 -639.4 237.1 -779.3 6

 7 Federal funds and security repos 20.9 22.5 112.0 -98.0 10.6 38.7 113.9 -63.7 -46.4 46.9 18.2 7

 8 Debt securities 146.1 138.0 190.4 46.3 216.7 188.8 208.4 239.3 230.3 246.9 137.1 8

 9 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 103.0 -46.7 86.6 -35.1 195.4 177.1 183.1 227.4 194.1 -1.5 65.5 10

 11 Agency- and GSE-backed securities 138.5 133.6 49.7 42.4 26.2 29.8 4.7 75.0 -4.6 198.2 122.6 11

 12 Municipal securities 29.3 46.8 68.0 55.1 31.0 35.9 17.8 32.4 38.0 68.2 46.3 12

 13 Corporate and foreign bonds -124.7 4.3 -13.8 -16.2 -35.9 -54.0 2.8 -95.4 2.9 -18.0 -97.4 13

 14 Loans -279.4 142.9 277.2 260.9 578.8 595.5 660.8 428.1 630.6 765.2 662.0 14

 15 Depository institution loans n.e.c. -41.2 245.1 206.8 197.0 320.1 347.7 319.8 229.2 383.6 437.6 294.7 15

 16 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Mortgages -157.2 -105.8 21.7 -11.0 149.9 157.3 200.3 93.9 148.1 246.3 230.4 17

 18 Consumer credit -81.0 3.6 48.7 74.9 108.8 90.4 140.8 104.9 99.0 81.3 136.9 18

 19 Corporate equities -1.7 0.9 -10.5 0.8 0.7 -2.5 -0.7 1.6 4.3 -1.7 2.2 19

 20 Mutual fund shares -5.6 -0.5 -0.7 1.5 -0.8 8.7 5.0 -13.1 -3.5 -2.9 4.3 20

 21 Life insurance reserves 4.5 5.2 7.4 5.7 5.9 5.6 6.0 5.0 6.9 5.2 8.6 21

 22 U.S. direct investment abroad 2.7 -6.2 -1.6 0.3 4.7 -3.1 0.7 14.2 7.0 -7.1 1.9 22

 23 Miscellaneous assets -69.4 -64.8 -10.1 15.4 24.5 139.9 85.8 -106.8 -21.1 129.4 104.3 23

 24 Net increase in liabilities -168.7 855.0 570.3 943.7 1089.8 2099.7 1228.7 662.7 368.0 1255.1 69.6 24

 25 Net interbank liabilities -131.7 218.2 -130.3 368.5 -16.0 644.6 -40.7 70.2 -738.1 256.6 -280.5 25

 26 Checkable deposits 81.3 356.7 205.6 193.1 198.8 265.5 435.9 100.8 -6.8 300.0 162.2 26

 27 Small time and savings deposits 298.3 577.4 539.6 307.0 365.0 468.2 379.3 439.7 172.8 992.9 71.7 27

 28 Large time deposits -182.7 -173.3 -19.2 102.1 148.2 236.4 73.1 -259.1 542.5 -156.0 -90.1 28

 29 Federal funds and security repos 6.7 -27.1 -32.0 -92.8 25.4 187.9 3.7 -81.3 -8.8 -77.4 23.2 29

 30 Debt securities -69.3 10.0 -115.4 -102.7 -17.2 -32.4 -19.7 -16.9 0.2 -79.4 4.1 30

 31 Open market paper -20.1 7.6 -33.1 -27.8 -5.2 -5.2 -9.6 -5.0 -0.9 -21.9 4.3 31

 32 Corporate bonds -49.2 2.4 -82.3 -74.9 -12.0 -27.2 -10.1 -11.9 1.0 -57.5 -0.3 32

 33 Loans (other loans and advances) -148.7 -62.5 5.6 71.2 60.7 25.5 120.3 61.1 35.9 -36.8 99.7 33

 34 Corporate equity issues 11.9 6.4 1.6 2.2 2.7 2.5 4.3 2.8 1.2 24.0 2.2 34

 35 Taxes payable (net) 6.6 10.6 7.0 0.1 15.2 31.1 29.0 -11.6 12.3 19.1 -27.7 35

 36 Foreign direct investment in U.S. 12.4 26.0 -1.9 9.5 0.7 -0.1 1.6 -7.1 8.2 -6.2 0.6 36

 37 Miscellaneous liabilities -53.5 -87.4 109.8 85.4 306.3 270.6 241.8 364.1 348.6 18.4 104.3 37

 38 Investment by holding companies 33.4 76.1 101.2 59.2 195.9 179.2 200.8 108.0 295.8 -81.7 117.0 38

 39 Investment by funding corporations -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 51.6 39

 40 Other -55.4 -129.8 20.4 28.7 130.6 89.9 53.3 227.9 151.4 128.1 -64.2 40

 41 Discrepancy 133.4 65.1 49.2 -53.5 63.7 328.3 48.6 -273.8 151.8 -238.4 -189.0 41

 Memo:

 42 Consumer leases not included above (3) -0.8 -0.1 0.4 1.5 0.7 0.7 0.9 1.1 0.1 0.1 -0.1 42

(1) U.S.-chartered depository institutions (F.111), foreign banking offices (F.112), banks in U.S.-affiliated areas (F.113), and credit unions (F.114).

(2) Net capital transfers paid from table F.5, line 54.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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24 Z.1, September 18, 2015

F.111 U.S.-Chartered Depository Institutions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving less net capital transfers paid (1) 133.8 62.7 -8.9 5.0 -44.5 -12.3 -41.8 -88.4 -35.3 -51.1 -78.2 1

 2 Fixed nonresidential investment 31.0 20.1 21.8 18.7 19.6 14.5 19.1 20.9 23.9 24.9 25.5 2

 3 Net acquisition of financial assets -304.7 322.7 472.6 635.0 845.5 950.6 948.7 752.2 730.5 1392.2 -2.9 3

 4 Vault cash -2.2 8.1 7.1 2.5 2.0 1.8 3.1 4.9 -1.6 8.2 5.6 4

 5 Reserves at Federal Reserve -85.6 222.9 -0.2 454.4 190.7 233.6 114.0 285.2 130.0 247.4 -798.4 5

 6 Federal funds and security repos 0.7 -25.0 60.1 -87.2 -30.4 -54.6 2.8 -25.8 -43.9 120.2 -24.8 6

 7 Debt securities 135.2 108.3 163.6 90.7 241.5 190.0 225.1 265.6 285.2 284.9 202.1 7

 8 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities 93.0 -43.7 69.3 -26.1 203.3 174.3 184.4 226.6 227.9 -4.1 58.0 9

 10 Agency- and GSE-backed securities 110.1 106.9 35.5 47.7 43.0 54.9 19.6 89.0 8.4 218.8 121.8 10

 11 Residential mortgage pass-through securities -2.2 63.8 18.6 40.8 26.2 22.0 11.4 53.4 18.0 178.2 137.7 11

 12 Commercial mortgage pass-through securities -0.2 4.8 8.6 8.5 12.2 7.2 22.4 15.2 4.0 14.0 13.9 12

 13 Residential CMOs and other structured MBS 129.4 80.3 -10.8 -23.6 13.0 44.9 -6.1 14.0 -0.7 19.2 -27.3 13

 14 Commercial CMOs and other structured MBS -0.4 9.8 21.0 23.9 14.6 12.8 10.7 15.2 19.8 8.8 8.4 14

 15 Other -16.6 -51.8 -2.0 -1.9 -23.0 -32.0 -18.7 -8.8 -32.7 -1.4 -10.9 15

 16 Municipal securities 30.3 42.6 67.8 53.8 32.7 36.6 19.0 32.5 42.5 67.4 46.0 16

 17 Corporate and foreign bonds -98.2 2.5 -9.0 15.2 -37.4 -75.8 2.1 -82.4 6.4 2.8 -23.8 17

 18 Private residential mortgage pass-through securities -9.7 -3.1 15.3 9.9 -6.0 -3.4 -9.0 -7.4 -4.2 -6.1 -6.5 18

 19 Private commercial mortgage pass-through securities -6.4 -2.5 0.4 -1.2 -2.5 -6.5 1.8 -4.3 -0.9 -1.7 -5.6 19

 20 Private residential CMOs and other structured MBS -70.6 -22.0 -20.8 -14.6 -5.6 -19.3 17.3 -11.5 -8.7 -11.0 -7.4 20

 21 Private commercial CMOs and other structured MBS -1.4 2.7 4.1 4.6 5.4 5.9 -5.1 7.0 13.8 13.3 8.4 21

 22 Other -10.2 27.3 -8.0 16.5 -28.8 -52.4 -2.8 -66.2 6.3 8.2 -12.6 22

 23 Loans -252.7 77.5 258.5 170.7 439.2 472.6 538.1 319.4 426.8 604.0 505.2 23

 24 Depository institution loans n.e.c. -33.2 175.8 216.8 144.3 249.8 287.3 274.3 185.0 252.6 328.8 225.7 24

 25 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Mortgages -149.2 -105.3 13.7 -26.6 117.9 127.0 167.2 60.6 116.6 231.4 190.1 26

 27 Consumer credit -70.3 7.1 28.1 52.9 71.5 58.3 96.6 73.7 57.6 43.9 89.5 27

 28 Corporate equities -1.8 1.0 -10.5 0.8 0.7 -2.5 -0.7 1.6 4.3 -1.7 2.2 28

 29 Mutual fund shares -5.8 -0.8 -1.1 1.6 -0.7 8.5 5.1 -12.8 -3.6 -2.5 3.8 29

 30 Life insurance reserves 4.5 5.2 7.4 5.7 5.9 5.6 6.0 5.0 6.9 5.2 8.6 30

 31 U.S. direct investment abroad 2.7 -6.2 -1.6 0.3 4.7 -3.1 0.7 14.2 7.0 -7.1 1.9 31

 32 Miscellaneous assets -99.7 -68.5 -10.7 -4.6 -8.1 98.8 54.5 -104.9 -80.6 133.4 90.7 32

 33 Net increase in liabilities -250.1 370.0 536.7 628.3 975.0 1212.1 1067.9 699.4 920.4 1315.8 -130.3 33

 34 Net interbank liabilities -201.3 -263.4 -114.2 191.0 54.2 179.8 -21.3 298.2 -239.9 326.8 -490.8 34

 35 Federal Reserve float 0.7 0.8 0.1 -0.5 0.4 1.7 0.1 -1.6 1.4 -0.8 1.3 35

 36 Borrowing from Federal Reserve banks -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 0.5 36

 37 To domestic banking -16.8 40.8 -29.5 38.5 -45.3 124.1 -88.9 4.7 -220.9 222.3 -125.3 37

 38 To foreign banks -88.8 -304.9 -84.8 153.0 99.0 54.2 67.0 294.4 -19.7 105.7 -367.3 38

 39 Checkable deposits 69.6 319.4 176.2 148.2 136.2 192.0 389.9 108.6 -145.6 220.1 103.5 39

 40 Federal government -0.1 -2.7 0.3 0.3 0.9 -0.2 1.1 1.7 0.9 -0.6 -0.1 40

 41 Private domestic 73.5 296.5 180.1 148.6 133.1 185.5 375.3 121.5 -149.8 224.8 123.7 41

 42 Rest of the world -3.8 25.6 -4.2 -0.7 2.2 6.7 13.5 -14.7 3.3 -4.0 -20.1 42

 43 Small time and savings deposits 271.7 537.1 491.5 256.7 343.8 503.2 323.9 397.4 150.9 834.5 146.1 43

 44 Large time deposits -133.8 -13.2 -9.1 23.9 102.5 -2.8 48.3 -354.1 718.5 32.2 -103.6 44

 45 Federal funds and security repos -48.1 -81.5 -52.6 -80.5 -33.2 55.5 -45.3 -88.0 -55.0 -30.1 -9.8 45

 46 Debt securities -69.3 10.0 -115.4 -102.7 -17.2 -32.4 -19.7 -16.9 0.2 -79.4 4.1 46

 47 Open market paper -20.1 7.6 -33.1 -27.8 -5.2 -5.2 -9.6 -5.0 -0.9 -21.9 4.3 47

 48 Corporate bonds -49.2 2.4 -82.3 -74.9 -12.0 -27.2 -10.1 -11.9 1.0 -57.5 -0.3 48

 49 Loans (other loans and advances) -148.3 -60.5 4.6 69.2 52.3 23.8 110.1 48.4 26.8 -34.9 79.6 49

 50 Corporate equity issues 11.9 6.4 1.6 2.2 2.7 2.5 4.3 2.8 1.2 24.0 2.2 50

 51 Taxes payable (net) 6.6 10.6 7.0 0.1 15.2 31.1 29.0 -11.6 12.3 19.1 -27.7 51

 52 Miscellaneous liabilities -8.9 -94.9 147.1 120.1 318.5 259.5 248.7 314.6 451.1 3.4 166.2 52

 53 Investment by holding companies 33.4 76.1 101.2 59.2 195.9 179.2 200.8 108.0 295.8 -81.7 117.0 53

 54 Other -42.3 -171.0 45.9 60.9 122.5 80.3 47.9 206.6 155.3 85.1 49.2 54

 55 Discrepancy 157.4 90.0 33.5 -20.4 65.4 234.6 58.4 -162.1 130.8 -152.4 -231.0 55

 Memo:

 56 Consumer leases not included above (2) -0.8 -0.1 0.4 1.5 0.7 0.7 0.9 1.1 0.1 0.1 -0.1 56

(1) Net capital transfers paid from table F.5, line 54.

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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Z.1, September 18, 2015 25

F.112 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 2.3 2.9 3.3 4.1 4.4 4.2 4.3 4.4 4.5 4.4 4.4 1

 2 Fixed nonresidential investment 2.0 2.4 3.0 3.3 3.8 3.7 3.8 3.9 3.9 3.9 3.9 2

 3 Net acquisition of financial assets 50.3 468.1 -15.8 316.5 56.3 710.2 152.4 58.3 -695.6 -49.7 102.1 3

 4 Vault cash 0.0 0.0 0.0 0.0 0.0 -0.0 0.1 -0.1 0.1 -0.2 -0.0 4

 5 Reserves at Federal Reserve 66.7 360.2 -72.2 309.3 -59.3 491.9 -9.7 76.7 -796.0 -65.8 57.6 5

 6 Federal funds and security repos 20.3 31.7 58.2 -1.2 41.1 92.7 111.7 -37.8 -2.5 -73.4 43.0 6

 7 Debt securities -10.7 2.2 11.4 -50.4 -14.5 2.2 -8.1 -30.3 -21.9 -33.9 -50.0 7

 8 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities 3.5 -0.5 16.1 -9.6 -10.5 -2.9 -3.0 -20.7 -15.5 -3.2 6.2 9

 10 Agency- and GSE-backed securities -4.8 4.0 1.5 -6.7 -4.9 -11.5 -6.3 -1.9 0.1 -4.7 15.9 10

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds -9.4 -1.4 -6.2 -34.1 0.9 16.6 1.2 -7.7 -6.4 -25.9 -72.0 12

 13 Loans -10.7 59.1 -12.9 45.7 74.7 67.1 54.7 40.9 136.0 105.7 75.2 13

 14 Depository institution loans n.e.c. -8.2 61.7 -11.0 46.3 67.4 59.3 46.9 35.8 127.7 106.3 61.0 14

 15 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Mortgages -2.5 -2.6 -1.9 -0.6 7.3 7.8 7.8 5.1 8.3 -0.6 14.2 16

 17 Corporate equities 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Miscellaneous assets -15.3 15.0 -0.3 13.1 14.4 56.3 3.7 8.8 -11.3 17.8 -23.7 18

 19 Net increase in liabilities 32.4 469.0 -5.1 268.7 56.3 807.7 144.4 -56.6 -670.5 -134.2 138.3 19

 20 Net interbank liabilities 30.7 504.6 -1.9 175.1 -70.2 423.4 20.0 -220.0 -504.4 -117.8 247.8 20

 21 To foreign banks 27.0 518.8 -51.2 159.2 -68.4 413.9 47.4 -238.2 -496.6 -136.4 252.1 21

 22 To domestic banks 3.7 -14.2 49.3 15.9 -1.9 9.5 -27.4 18.2 -7.8 18.5 -4.3 22

 23 Checkable deposits 5.7 23.7 16.2 30.8 45.2 36.3 50.0 -0.0 94.4 46.7 46.9 23

 24 Small time and savings deposits 5.8 13.2 13.8 27.7 -5.9 -23.4 11.1 9.4 -20.5 167.5 -150.5 24

 25 Large time deposits -46.5 -163.1 -16.2 71.1 39.7 233.4 26.3 91.3 -192.2 -188.3 6.4 25

 26 Federal funds and security repos 54.8 54.4 20.6 -12.3 58.6 132.3 48.9 6.7 46.2 -47.4 32.9 26

 27 Debt securities (open market paper) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Foreign direct investment in U.S. 12.4 26.0 -1.9 9.5 0.7 -0.1 1.6 -7.1 8.2 -6.2 0.6 28

 29 Miscellaneous liabilities -30.5 10.1 -35.7 -33.2 -11.7 5.7 -13.6 63.2 -102.2 11.3 -45.8 29

 30 Investment by funding corporations -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 51.6 30

 31 Other 1.1 43.8 -23.9 -30.7 8.6 4.2 -1.4 35.0 -3.7 39.2 -97.4 31

 32 Discrepancy -17.6 1.4 11.0 -47.0 0.5 98.0 -7.5 -114.3 25.6 -84.1 36.7 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.
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26 Z.1, September 18, 2015

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets -14.8 -4.1 0.0 8.8 7.3 -12.8 9.9 -11.8 43.7 -24.5 20.5 3

 4 Debt securities -9.5 -3.5 -2.6 1.5 -1.2 2.1 -5.2 -0.8 -1.1 -0.2 1.5 4

 5 Treasury securities 0.6 -0.0 -0.6 0.7 0.2 0.6 -1.9 1.7 0.3 0.6 1.4 5

 6 Agency- and GSE-backed securities -7.7 -8.0 -2.2 -0.8 -0.1 -0.4 0.1 -0.0 -0.2 -1.0 1.4 6

 7 Municipal securities -0.9 0.9 -0.8 0.9 -0.9 -0.6 -2.8 -0.3 0.3 0.2 -1.0 7

 8 Corporate and foreign bonds -1.4 3.6 1.0 0.6 -0.4 2.5 -0.6 -2.3 -1.4 0.1 -0.3 8

 9 Loans -9.8 -1.4 2.5 -1.2 -4.3 -2.4 -5.2 -6.2 -3.6 -16.1 -3.4 9

 10 Depository institution loans n.e.c. -3.3 1.1 1.0 1.3 -2.3 -0.6 -4.4 -2.8 -1.3 -5.7 -0.5 10

 11 Home mortgages -2.5 -2.4 2.3 -1.1 -1.5 -2.2 -0.3 -2.7 -1.0 -3.6 -0.8 11

 12 Commercial mortgages -4.0 -0.1 -0.8 -1.4 -0.5 0.4 -0.5 -0.6 -1.3 -6.7 -2.1 12

 13 Miscellaneous assets 4.5 0.8 0.2 8.6 12.8 -12.5 20.3 -4.8 48.4 -8.2 22.4 13

 14 Net increase in liabilities -14.8 -3.1 -0.1 8.5 7.1 -10.1 11.2 -14.8 41.9 -21.2 22.2 14

 15 Net interbank liabilities 0.9 -1.2 -0.4 0.2 -0.6 -3.2 -1.4 2.6 -0.5 -1.7 -1.9 15

 16 Checkable deposits 0.5 2.8 2.5 6.3 5.2 -3.5 5.2 -3.3 22.5 -1.7 11.2 16

 17 Small time and savings deposits -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 4.9 17

 18 Large time deposits -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 4.9 18

 19 Miscellaneous liabilities -5.9 -3.9 -2.0 -3.0 -1.6 2.1 1.7 -10.5 0.2 -3.4 3.2 19

 20 Discrepancy -0.0 1.0 -0.1 -0.3 -0.2 2.8 1.2 -3.0 -1.8 3.3 1.8 20

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

F.114 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 8.4 10.1 12.0 11.8 12.5 12.2 12.4 12.6 12.7 12.4 12.7 1

 2 Fixed nonresidential investment 2.5 2.5 2.8 2.6 3.0 2.9 3.0 3.0 3.0 3.0 3.1 2

 3 Net acquisition of financial assets 76.0 53.8 43.3 33.2 63.0 106.3 18.2 38.7 88.6 109.3 45.3 3

 4 Reserves at Federal Reserve 10.0 11.1 1.2 -5.7 -2.5 55.5 -58.1 -33.9 26.6 55.6 -38.4 4

 5 Federal funds and security repos -0.1 15.9 -6.2 -9.6 -0.0 0.6 -0.6 -0.1 0.0 0.0 0.0 5

 6 Debt securities 31.1 31.0 17.9 4.6 -9.0 -5.4 -3.4 4.8 -31.9 -3.9 -16.5 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 5.9 -2.5 1.7 -0.2 2.5 5.2 3.6 19.7 -18.6 5.3 -0.2 8

 9 Agency- and GSE-backed securities 40.9 30.6 14.9 2.2 -11.7 -13.1 -8.7 -12.1 -12.9 -14.9 -16.5 9

 10 Municipal securities 0.0 3.2 1.0 0.3 -0.8 -0.1 1.6 0.2 -4.8 0.7 1.3 10

 11 Corporate and foreign bonds -15.7 -0.3 0.3 2.2 1.0 2.6 0.2 -3.0 4.3 5.1 -1.2 11

 12 Loans -6.2 7.6 29.1 45.6 69.2 58.2 73.1 74.0 71.4 71.6 84.9 12

 13 Depository institution loans n.e.c. 3.5 6.6 0.1 5.1 5.1 1.7 3.0 11.3 4.5 8.3 8.5 13

 14 Home mortgages 0.9 4.5 8.3 18.6 26.9 24.3 26.0 31.5 25.5 25.9 29.0 14

 15 Consumer credit -10.7 -3.4 20.6 21.9 37.2 32.1 44.2 31.2 41.4 37.4 47.5 15

 16 Mutual fund shares 0.2 0.3 0.4 -0.1 -0.1 0.1 -0.2 -0.3 0.1 -0.4 0.5 16

 17 Miscellaneous assets 41.1 -12.1 0.8 -1.6 5.3 -2.7 7.3 -5.8 22.4 -13.6 14.8 17

 18 Net increase in liabilities 63.8 19.0 38.8 38.2 51.5 89.9 5.2 34.7 76.1 94.8 39.3 18

 19 Net interbank liabilities 38.1 -21.9 -13.8 2.2 0.7 44.5 -37.9 -10.7 6.7 49.3 -35.6 19

 20 Shares/deposits 34.3 41.5 51.3 32.6 41.2 40.4 27.8 35.8 60.8 40.2 74.0 20

 21 Checkable 5.5 10.7 10.7 7.9 12.2 40.7 -9.3 -4.5 21.9 34.9 0.6 21

 22 Small time and savings 26.1 27.4 34.4 20.1 25.0 -8.8 41.4 34.7 32.5 -2.0 71.2 22

 23 Large time 2.8 3.4 6.2 4.7 4.1 8.5 -4.3 5.6 6.3 7.2 2.2 23

 24 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 24

 25 Loans (other loans and advances) -0.4 -2.0 0.9 1.9 8.4 1.7 10.2 12.7 9.0 -2.0 20.1 25

 26 Miscellaneous liabilities -8.3 1.3 0.3 1.5 1.2 3.3 5.1 -3.2 -0.4 7.2 -19.2 26

 27 Discrepancy -6.4 -27.2 4.8 14.2 -2.0 -7.1 -3.5 5.6 -2.8 -5.2 3.5 27
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F.115 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving less net capital transfers paid (1) 51.3 31.2 45.2 55.4 50.9 45.8 52.5 47.9 57.3 36.5 46.2 1

 2 Fixed nonresidential investment 15.8 16.7 19.1 21.4 22.9 22.3 22.7 23.2 23.3 23.5 23.8 2

 3 Net acquisition of financial assets -38.2 27.4 26.4 40.1 33.3 19.4 32.9 58.6 22.1 7.7 15.6 3

 4 Checkable deposits and currency 5.0 -8.5 12.3 -6.7 5.9 14.9 5.5 3.5 -0.4 -0.6 -20.1 4

 5 Money market fund shares -4.0 -5.6 2.2 -2.2 -1.9 -10.0 5.3 1.5 -4.3 -0.3 -1.0 5

 6 Security repurchase agreements -0.7 -1.4 -0.8 0.0 -0.1 0.4 -0.6 0.1 -0.4 0.4 -0.1 6

 7 Debt securities 4.2 35.4 0.3 28.6 13.8 -15.9 12.6 39.7 18.8 -17.0 14.0 7

 8 Open market paper -1.9 0.9 -1.4 0.7 -0.1 -3.4 2.8 1.3 -1.2 -0.1 -0.4 8

 9 Treasury securities 3.2 4.6 -6.7 6.4 5.9 -5.5 13.7 12.1 3.4 -1.8 -0.2 9

 10 Agency- and GSE-backed securities -0.4 6.9 -8.4 -4.9 -4.2 -6.2 -5.7 -1.9 -3.1 -1.9 1.8 10

 11 Municipal securities -21.0 -17.4 -2.9 -1.7 -4.7 -10.4 -9.2 2.2 -1.6 -5.7 5.5 11

 12 Corporate and foreign bonds 24.3 40.4 19.6 28.1 17.0 9.5 11.0 26.0 21.3 -7.6 7.3 12

 13 Loans (commercial mortgages) -0.3 0.8 0.7 2.3 2.0 1.3 2.1 2.3 2.4 1.9 2.0 13

 14 Corporate equities -20.9 2.9 4.6 3.7 2.6 2.4 -12.6 3.7 16.8 -2.4 -5.2 14

 15 Mutual fund shares -0.1 -0.7 1.8 1.0 1.4 1.3 1.3 1.3 1.6 2.4 2.4 15

 16 Trade receivables 0.8 3.4 4.8 3.3 5.5 19.3 15.2 -2.0 -10.3 21.3 12.9 16

 17 U.S. direct investment abroad -22.2 1.1 0.4 10.2 4.0 5.7 4.1 8.6 -2.3 2.1 10.7 17

 18 Net increase in liabilities 2.9 19.6 -21.1 22.1 -1.1 -12.4 18.5 17.0 -27.4 -31.3 -5.8 18

 19 Security repurchase agreements 0.8 1.7 -1.0 -0.6 -0.4 -1.4 0.5 -0.6 -0.3 0.4 0.0 19

 20 Corporate equity issues -12.7 -10.7 -14.5 -7.6 -16.9 -17.9 -9.4 -22.2 -17.9 -19.4 -19.7 20

 21 Taxes payable (net) 5.6 -4.4 3.8 19.1 1.9 7.3 -2.8 3.0 0.4 1.4 -18.9 21

 22 Foreign direct investment in U.S. 2.8 -2.2 -8.2 11.5 -0.5 -4.2 -4.0 10.0 -3.8 -2.5 -0.7 22

 23 Miscellaneous liabilities 6.3 35.2 -1.0 -0.3 14.8 3.8 34.3 26.8 -5.8 -11.2 33.5 23

 24 Investment by parent companies 0.0 0.0 -6.8 -6.0 0.1 -2.2 1.9 -0.2 0.9 -5.5 2.8 24

 25 Policy payables 6.3 35.2 5.8 5.7 14.7 6.0 32.4 27.1 -6.6 -5.6 30.7 25

 26 Discrepancy 76.6 6.6 -21.3 16.0 -6.3 -8.3 15.5 -17.0 -15.5 -26.0 1.1 26

(1) Net capital transfers paid from table F.5, line 51.
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F.116 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 16.2 7.2 13.4 7.2 10.7 5.9 10.6 12.6 13.6 14.6 12.7 1

 2 Fixed nonresidential investment 11.5 12.3 14.0 15.4 16.5 16.0 16.3 16.7 16.8 17.0 17.1 2

 3 Net acquisition of financial assets 181.5 229.0 127.0 102.7 213.4 225.7 244.8 143.6 239.5 275.6 14.9 3

 4 Checkable deposits and currency 1.0 2.0 2.7 -9.2 3.6 14.0 -5.9 15.1 -8.5 -2.2 -28.1 4

 5 Money market fund shares -12.7 7.9 -1.4 -5.9 6.1 -1.1 -1.2 6.4 20.5 -4.5 -7.5 5

 6 Security repurchase agreements 0.7 -4.7 2.1 -5.3 0.4 12.4 1.9 0.5 -13.2 9.2 -0.4 6

 7 Debt securities 160.4 102.5 60.6 55.1 70.2 97.3 113.1 56.9 13.3 115.2 65.5 7

 8 Open market paper -8.9 -11.2 13.9 3.2 -4.6 -1.4 -10.1 -11.0 4.1 16.7 -4.7 8

 9 Treasury securities 23.2 18.8 5.5 -12.2 14.3 13.4 13.8 13.6 16.2 41.5 -8.9 9

 10 Agency- and GSE-backed securities 4.0 -1.6 -13.5 -6.8 -15.0 -12.5 -10.1 -15.8 -21.5 -2.1 15.3 10

 11 Municipal securities 39.2 9.4 9.7 10.1 6.2 5.1 9.6 6.8 3.3 1.3 3.5 11

 12 Corporate and foreign bonds 102.9 87.1 45.0 60.8 69.3 92.7 109.9 63.2 11.3 57.8 60.3 12

 13 Loans -8.8 22.9 13.7 22.3 29.5 24.4 23.3 30.3 40.2 31.7 30.1 13

 14 Other loans and advances -0.2 7.9 1.8 3.5 8.0 8.0 5.5 10.4 7.9 3.8 -6.3 14

 15 Mortgages -8.6 15.0 11.9 18.8 21.6 16.4 17.8 19.9 32.3 27.9 36.3 15

 16 Corporate equities 12.7 33.2 16.1 13.7 28.1 29.7 70.7 2.5 9.4 44.1 45.1 16

 17 Mutual fund shares 33.9 5.6 0.4 1.1 1.3 1.3 1.3 1.3 1.3 1.3 1.3 17

 18 U.S. direct investment abroad 1.9 3.3 5.9 2.9 2.2 2.9 -1.4 4.0 3.3 7.5 6.9 18

 19 Miscellaneous assets -7.6 56.4 26.8 28.0 71.9 44.7 43.1 26.7 173.2 73.4 -98.0 19

 20 Equity in FHLB -0.0 -0.8 0.1 1.0 0.4 0.2 0.6 0.4 0.2 0.8 1.3 20

 21 Deferred and unpaid life ins. premiums 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 3.2 21

 22 Other -10.2 57.6 26.1 24.1 70.4 40.4 37.2 29.0 175.1 68.0 -102.4 22

 23 Net increase in liabilities 145.0 203.7 90.4 87.1 174.4 182.9 214.7 119.2 180.8 232.8 43.1 23

 24 Security repurchase agreements -2.2 1.9 2.3 6.5 1.0 0.2 9.1 -2.6 -2.6 1.0 1.2 24

 25 Corporate equity issues -4.8 -11.5 -9.9 -9.2 -14.9 -14.3 -11.8 -17.6 -16.0 -22.5 -3.7 25

 26 Loans (other loans and advances) -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 17.9 26

 27 Life insurance reserves 13.6 79.9 -12.2 29.8 55.5 41.8 52.1 55.0 73.1 89.1 49.0 27

 28 Pension entitlements (2) 73.4 83.6 77.8 66.4 85.6 76.0 62.7 104.5 99.2 50.4 63.0 28

 29 Taxes payable (net) 2.6 5.2 -4.6 -2.3 -1.9 5.0 -1.0 -3.4 -8.3 10.0 -5.6 29

 30 Foreign direct investment in U.S. 6.3 -5.4 2.4 0.9 5.8 -2.2 9.6 15.8 -0.1 28.4 1.3 30

 31 Miscellaneous liabilities 59.4 48.3 29.9 -12.9 30.9 68.7 86.1 -46.3 15.1 62.0 -80.0 31

 32 Investment by parent companies 22.2 9.3 10.3 3.4 0.8 0.9 2.3 -0.3 0.2 1.1 0.2 32

 33 Other reserves (3) 17.1 14.8 -1.8 0.4 5.8 15.0 12.7 1.7 -6.2 13.9 2.2 33

 34 Unallocated insurance contracts 12.6 12.0 0.8 -11.4 8.3 4.1 27.5 -12.3 14.1 21.5 12.2 34

 35 Other 7.4 12.2 20.6 -5.2 16.0 48.7 43.4 -35.4 7.1 25.5 -94.6 35

 36 Discrepancy -31.8 -30.3 -37.2 -23.8 -44.8 -52.8 -35.8 -28.6 -61.9 -45.2 23.8 36

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables F.116.g and F.116.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 33.

(3) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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F.116.g Life Insurance Companies: General Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets 126.9 176.4 56.5 84.6 155.6 200.8 89.8 120.7 211.0 -79.0 9.3 1

 2 Checkable deposits and currency -2.0 3.0 1.4 -4.8 3.5 13.8 -6.1 14.9 -8.7 -4.1 -27.7 2

 3 Money market fund shares -12.7 7.9 -1.4 -5.9 6.1 -1.1 -1.2 6.4 20.5 -4.5 -7.5 3

 4 Security repurchase agreements 0.7 -4.7 2.1 -5.3 0.4 12.4 1.9 0.5 -13.2 9.2 -0.4 4

 5 Debt securities 120.5 98.7 22.9 49.7 71.0 98.9 114.7 58.4 12.1 -46.1 63.9 5

 6 Open market paper -12.0 -12.6 15.9 1.4 -6.0 -2.8 -11.5 -12.4 2.6 13.5 -4.7 6

 7 Treasury securities 15.2 10.3 1.3 -11.3 9.1 8.6 9.0 8.8 10.0 5.9 -9.3 7

 8 Agency- and GSE-backed securities -5.6 -1.5 -4.9 -6.6 -3.3 -0.6 1.8 -3.9 -10.7 -15.4 16.3 8

 9 Municipal securities 39.5 9.2 9.0 9.2 5.3 4.2 8.7 5.9 2.4 -2.9 3.3 9

 10 Corporate and foreign bonds 83.4 93.3 1.6 57.0 66.0 89.5 106.7 60.0 7.8 -47.1 58.3 10

 11 Loans -8.8 23.7 15.0 20.4 28.1 23.1 21.9 28.8 38.7 -20.3 30.2 11

 12 Other loans and advances -0.2 7.9 1.9 3.5 8.0 8.0 5.5 10.4 7.9 -15.5 -6.3 12

 13 Mortgages -8.6 15.8 13.1 16.9 20.2 15.1 16.4 18.5 30.8 -4.8 36.5 13

 14 Corporate equities 4.0 0.3 -2.5 0.8 5.5 2.7 8.7 1.3 9.2 3.8 4.9 14

 15 Mutual fund shares -0.1 0.7 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 U.S. direct investment abroad 1.9 3.3 5.9 2.9 2.2 2.9 -1.4 4.0 3.3 7.5 6.9 16

 17 Miscellaneous assets 23.4 43.7 12.8 27.0 38.7 48.0 -48.6 6.3 149.1 -24.5 -60.9 17

 18 Net increase in liabilities 91.2 151.2 17.8 68.7 116.0 157.3 58.9 96.3 151.6 -121.8 37.5 18

 19 Security repurchase agreements -2.2 1.9 2.3 6.5 1.0 0.2 9.1 -2.6 -2.6 1.0 1.2 19

 20 Corporate equity issues -4.8 -11.5 -9.9 -9.2 -14.9 -14.3 -11.8 -17.6 -16.0 -22.5 -3.7 20

 21 Loans (other loans and advances) -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 17.9 21

 22 Life insurance reserves 32.0 73.0 -6.2 28.3 46.1 32.4 42.7 45.6 63.8 -58.1 48.7 22

 23 Pension entitlements (1) 22.0 35.1 7.1 44.0 42.9 22.9 26.8 65.4 56.5 -99.7 56.6 23

 24 Taxes payable (net) 2.6 5.2 -4.6 -2.3 -1.9 5.0 -1.0 -3.4 -8.3 10.0 -5.6 24

 25 Foreign direct investment in U.S. 6.3 -5.4 2.4 0.9 5.8 -2.2 9.6 15.8 -0.1 28.4 1.3 25

 26 Miscellaneous liabilities 38.5 51.1 22.1 -7.5 24.6 105.6 -24.4 -20.8 38.0 4.7 -78.9 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 Net acquisition of financial assets 54.6 52.6 70.5 18.1 57.8 24.9 155.0 23.0 28.5 354.6 5.6 1

 2 Checkable deposits and currency 3.0 -0.9 1.3 -4.4 0.2 0.2 0.2 0.2 0.2 1.9 -0.3 2

 3 Debt securities 40.0 3.8 37.7 5.4 -0.9 -1.6 -1.6 -1.5 1.2 161.3 1.6 3

 4 Open market paper 3.1 1.4 -2.0 1.8 1.5 1.4 1.5 1.5 1.5 3.2 0.0 4

 5 Treasury securities 8.0 8.5 4.2 -0.9 5.2 4.8 4.8 4.8 6.1 35.5 0.4 5

 6 Agency- and GSE-backed securities 9.6 -0.0 -8.5 -0.2 -11.7 -11.9 -11.9 -11.9 -10.9 13.4 -1.0 6

 7 Municipal securities -0.3 0.2 0.7 0.9 0.9 0.9 0.9 0.9 0.9 4.3 0.2 7

 8 Corporate and foreign bonds 19.5 -6.2 43.3 3.8 3.3 3.2 3.2 3.2 3.5 104.9 2.0 8

 9 Loans -0.1 -0.8 -1.3 1.9 1.4 1.3 1.4 1.4 1.5 52.0 -0.1 9

 10 Other loans and advances -0.0 -0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 19.2 0.1 10

 11 Mortgages -0.0 -0.8 -1.1 1.9 1.4 1.3 1.4 1.4 1.5 32.8 -0.1 11

 12 Corporate equities 8.6 32.9 18.6 12.9 22.6 27.0 62.0 1.2 0.2 40.3 40.3 12

 13 Mutual fund shares 34.0 4.9 0.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 13

 14 Miscellaneous assets -31.0 12.7 13.9 1.0 33.3 -3.3 91.7 20.4 24.2 97.9 -37.1 14

 15 Net increase in liabilities 53.8 52.5 72.7 18.5 58.4 25.6 155.8 22.9 29.2 354.6 5.6 15

 16 Life insurance reserves -18.4 6.9 -5.9 1.4 9.4 9.4 9.4 9.4 9.4 147.2 0.3 16

 17 Pension entitlements (1) 51.3 48.5 70.8 22.4 42.7 53.1 36.0 39.0 42.7 150.1 6.4 17

 18 Miscellaneous liabilities 20.8 -2.8 7.8 -5.3 6.3 -36.8 110.5 -25.5 -22.9 57.2 -1.1 18

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 18).
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F.117 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.1 0.1 0.3 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 2

 3 Net acquisition of financial assets (2) 577.8 455.9 503.3 463.2 446.3 430.6 458.0 427.9 468.8 428.0 452.3 3

 4 Checkable deposits and currency 2.6 6.0 -1.7 -0.5 1.2 0.3 6.2 0.3 -1.9 3.0 -1.1 4

 5 Time and savings deposits 4.4 3.5 -7.0 7.4 4.6 4.5 5.3 3.0 5.4 15.3 11.1 5

 6 Money market fund shares -8.1 17.2 -20.8 16.0 -3.8 -15.3 0.5 -1.0 0.7 11.0 6.7 6

 7 Security repurchase agreements 0.1 0.1 -0.6 0.6 0.5 0.5 0.5 0.3 0.7 1.5 1.0 7

 8 Debt securities 220.7 181.2 200.3 284.7 153.5 153.7 137.7 211.8 110.9 -368.4 -422.5 8

 9 Open market paper 2.1 4.3 -8.5 8.9 5.9 9.9 4.6 5.5 3.8 23.3 14.0 9

 10 Treasury securities (3) 118.1 144.3 129.3 119.7 87.1 108.5 79.6 100.6 59.9 -345.0 -459.8 10

 11 Agency- and GSE-backed securities 9.4 -35.9 -21.7 -4.7 -15.7 -16.6 1.9 -20.9 -27.2 -39.8 -19.3 11

 12 Municipal securities 0.8 -0.6 0.2 1.3 1.1 -0.2 -0.0 1.4 3.1 -6.0 5.8 12

 13 Corporate and foreign bonds 90.3 69.2 101.0 159.7 75.1 52.1 51.6 125.2 71.4 -0.9 36.8 13

 14 Loans (mortgages) 2.5 -5.2 0.2 -1.2 -0.1 -1.7 3.6 0.8 -3.2 -11.8 -1.6 14

 15 Corporate equities -44.0 -139.6 -100.3 -354.2 -186.0 -219.4 -314.5 -84.0 -126.2 130.1 -53.7 15

 16 Mutual fund shares 104.9 15.0 62.8 139.7 123.7 134.2 110.9 99.8 150.1 67.9 104.0 16

 17 Miscellaneous assets 294.7 377.6 370.4 370.7 352.7 373.9 507.7 197.0 332.3 579.1 808.3 17

 18 Unallocated insurance contracts (4) 12.6 12.0 0.8 -11.4 8.3 4.1 27.5 -12.3 14.1 21.5 12.2 18

 19 Contributions receivable 15.4 3.0 -12.3 -2.5 -1.1 -2.8 -0.9 1.5 -2.0 6.7 1.2 19

 20 Claims of pension fund on sponsor (5) 237.2 317.7 350.9 346.1 314.3 320.3 423.2 196.5 317.4 504.1 771.3 20

 21 Other 29.6 45.0 30.9 38.5 31.1 52.3 57.9 11.3 2.8 46.8 23.7 21

 22 Pension entitlements (liabilities) (6) 577.7 455.9 503.5 463.5 446.6 430.9 458.3 428.3 469.1 428.3 452.6 22

 Memo:

 23 Household retirement assets (7) 836.5 903.8 816.4 741.2 758.6 712.6 865.0 874.7 581.9 734.9 ND 23

 24 Defined benefit plans 352.4 351.9 321.8 287.7 267.7 268.3 268.1 267.7 266.8 265.8 267.1 24

 25 Defined contribution plans 225.3 104.1 181.5 175.5 178.6 162.3 189.9 160.2 202.0 162.2 185.2 25

 26 Individual retirement plans (IRAs) (8) 213.4 380.0 261.0 229.9 241.0 223.6 346.2 367.5 26.8 269.4 ND 26

 27 Annuities at life insurance companies (9) 45.3 67.8 52.1 48.1 71.2 58.4 60.9 79.3 86.4 37.5 ND 27

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(8) IRA assets are not included above. See memo item on table F.227 for a sectoral distribution of IRA accounts.

(9) Annuities held in IRAs at life insurance companies are excluded. They are included in line 26.
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F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets (2) 231.6 140.8 194.3 148.5 110.0 99.8 127.3 89.8 122.9 116.8 104.8 3

 4 Checkable deposits and currency 2.1 5.6 -1.7 -0.5 0.5 -0.1 2.9 -0.5 -0.3 1.6 -0.6 4

 5 Time and savings deposits -0.6 1.6 -3.9 4.9 0.0 1.1 2.0 -2.7 -0.2 3.4 1.8 5

 6 Money market fund shares -10.2 16.5 -17.1 12.7 -9.5 -18.4 -5.0 -5.0 -9.7 -0.7 -6.9 6

 7 Security repurchase agreements -0.2 0.0 -0.3 0.4 0.0 0.1 0.2 -0.3 0.1 0.3 0.1 7

 8 Debt securities 117.8 78.4 145.3 89.6 22.6 29.1 29.7 36.5 -4.8 56.5 7.4 8

 9 Open market paper -2.0 2.5 -4.9 5.9 1.0 3.7 1.9 -2.0 0.5 7.0 3.2 9

 10 Treasury securities 31.2 40.7 64.4 -3.4 12.2 14.0 11.5 15.4 7.8 20.4 12.0 10

 11 Agency- and GSE-backed securities 6.5 -9.3 2.0 -5.7 -10.7 -13.8 -5.7 -10.0 -13.5 -6.8 -12.9 11

 12 Corporate and foreign bonds 82.1 44.6 83.8 92.8 20.2 25.1 22.0 33.2 0.4 35.8 5.1 12

 13 Loans (mortgages) 2.8 -4.6 1.2 -0.7 0.2 -2.2 3.2 2.7 -3.1 -2.3 -3.1 13

 14 Corporate equities 22.7 -72.6 -19.0 -194.9 -95.3 -39.9 -141.7 -83.2 -116.3 -15.9 -39.7 14

 15 Mutual fund shares 100.9 66.3 74.1 103.8 106.0 107.3 95.1 87.7 134.0 42.9 72.4 15

 16 Miscellaneous assets -3.6 49.6 15.8 133.3 85.4 22.9 140.9 54.5 123.3 31.2 73.3 16

 17 Unallocated insurance contracts (3) -1.0 22.7 5.6 -3.3 3.1 -0.5 14.7 -8.7 6.7 15.1 3.9 17

 18 Contributions receivable 15.4 3.0 -12.3 -2.5 -1.1 -2.8 -0.9 1.5 -2.0 6.7 1.2 18

 19 Claims of pension fund on sponsor (4) -32.1 -19.5 -11.6 110.9 54.4 -17.0 80.8 44.8 109.2 -22.3 50.2 19

 20 Other 14.2 43.4 34.1 28.1 29.0 43.2 46.3 16.9 9.4 31.6 18.0 20

 21 Pension entitlements (liabilities) (5) 231.6 140.8 194.4 148.6 110.0 99.9 127.4 89.8 123.0 116.9 104.9 21

 Memo:

 Net acquisition of financial assets (6)

 22 Defined benefit plans 47.5 46.6 22.5 -8.0 -22.6 -20.5 -23.1 -24.0 -22.7 -22.7 -22.7 22

 23 Defined contribution plans 184.0 94.1 171.8 156.5 132.5 120.4 150.4 113.8 145.6 139.5 127.5 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.118.b and F.118.c.
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32 Z.1, September 18, 2015

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets (1) 47.5 46.6 22.5 -8.0 -22.6 -20.5 -23.1 -24.0 -22.7 -22.7 -22.7 1

 2 Checkable deposits and currency 2.7 1.8 -1.0 0.3 0.1 0.3 0.5 -0.8 0.4 1.0 0.4 2

 3 Time and savings deposits -0.2 1.2 -3.3 4.5 -0.1 1.1 1.8 -2.7 -0.6 3.5 1.4 3

 4 Money market fund shares -5.1 -0.3 -4.0 5.3 -1.5 -2.1 2.1 -3.1 -2.7 -2.2 -4.5 4

 5 Security repurchase agreements -0.2 0.0 -0.3 0.4 0.0 0.1 0.2 -0.3 0.1 0.3 0.1 5

 6 Debt securities 70.5 80.5 83.9 74.3 15.0 22.4 14.1 15.9 7.5 31.9 -7.9 6

 7 Open market paper -1.0 1.1 -3.6 4.9 0.5 1.8 1.9 -2.9 1.4 3.9 1.6 7

 8 Treasury securities 7.4 32.9 36.0 -2.7 5.6 3.9 5.0 9.5 4.0 12.9 5.2 8

 9 Agency- and GSE-backed securities 2.7 0.7 -9.1 -6.2 -6.0 -4.3 -4.5 -6.6 -8.8 -4.4 -7.2 9

 10 Corporate and foreign bonds 61.4 45.8 60.7 78.3 14.9 21.0 11.7 16.0 11.0 19.5 -7.4 10

 11 Loans (mortgages) 1.2 -2.4 -0.1 -1.1 -0.4 -2.6 2.0 1.6 -2.6 -1.5 -2.4 11

 12 Corporate equities -4.1 -72.7 -11.0 -186.1 -85.9 -35.4 -124.7 -67.6 -115.8 -31.4 -36.2 12

 13 Mutual fund shares 0.7 22.3 -28.7 -9.3 -10.1 -4.5 -19.5 -12.7 -3.8 -15.8 -17.1 13

 14 Miscellaneous assets -17.7 16.3 -12.9 103.7 60.2 0.1 100.3 45.7 94.8 -8.5 43.4 14

 15 Unallocated insurance contracts (2) -8.3 12.9 -9.5 -2.7 0.6 -1.0 2.1 2.3 -1.1 2.0 -4.2 15

 16 Contributions receivable 13.4 1.7 -12.4 -4.1 -1.9 -1.9 -0.6 -2.3 -2.7 4.6 1.3 16

 17 Claims of pension fund on sponsor (3) -32.1 -19.5 -11.6 110.9 54.4 -17.0 80.8 44.8 109.2 -22.3 50.2 17

 18 Other 9.3 21.2 20.6 -0.4 7.1 20.0 18.0 0.8 -10.6 7.3 -3.8 18

 19 Net increase in pension entitlements (liabilities) (4) 47.5 46.6 22.6 -7.9 -22.5 -20.5 -23.1 -24.0 -22.6 -22.6 -22.6 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 184.0 94.1 171.8 156.5 132.5 120.4 150.4 113.8 145.6 139.5 127.5 1

 2 Checkable deposits and currency -0.5 3.8 -0.7 -0.8 0.4 -0.5 2.4 0.3 -0.7 0.5 -1.0 2

 3 Time and savings deposits -0.4 0.4 -0.6 0.4 0.1 -0.0 0.2 0.0 0.3 -0.2 0.4 3

 4 Money market fund shares -5.1 16.8 -13.1 7.3 -8.1 -16.3 -7.1 -1.9 -7.0 1.5 -2.3 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 47.3 -2.1 61.4 15.3 7.7 6.8 15.6 20.6 -12.3 24.6 15.3 6

 7 Open market paper -1.0 1.4 -1.2 1.0 0.5 1.9 -0.1 0.9 -0.9 3.0 1.6 7

 8 Treasury securities 23.9 7.7 28.4 -0.8 6.6 10.1 6.6 5.9 3.8 7.5 6.8 8

 9 Agency- and GSE-backed securities 3.8 -10.0 11.1 0.5 -4.7 -9.4 -1.2 -3.5 -4.7 -2.3 -5.6 9

 10 Corporate and foreign bonds 20.7 -1.2 23.1 14.5 5.3 4.2 10.3 17.2 -10.6 16.4 12.5 10

 11 Loans (mortgages) 1.6 -2.2 1.3 0.4 0.5 0.4 1.2 1.1 -0.5 -0.8 -0.7 11

 12 Corporate equities 26.8 0.1 -8.0 -8.8 -9.4 -4.5 -17.0 -15.6 -0.5 15.5 -3.6 12

 13 Mutual fund shares 100.2 43.9 102.8 113.1 116.1 111.8 114.6 100.4 137.8 58.7 89.5 13

 14 Miscellaneous assets 14.2 33.3 28.7 29.6 25.2 22.7 40.6 8.8 28.5 39.6 29.9 14

 15 Unallocated insurance contracts (2) 7.2 9.8 15.1 -0.6 2.4 0.5 12.6 -11.0 7.8 13.1 8.1 15

 16 Contributions receivable 2.0 1.3 0.1 1.7 0.8 -0.9 -0.3 3.8 0.7 2.2 -0.1 16

 17 Other 4.9 22.2 13.5 28.5 21.9 23.2 28.3 16.1 19.9 24.4 21.9 17

 18 Net increase in pension entitlements (liabilities) 184.0 94.1 171.8 156.5 132.5 120.4 150.4 113.8 145.6 139.5 127.5 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
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Z.1, September 18, 2015 33

F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets (1) 102.1 113.0 102.1 107.6 112.8 103.8 100.8 119.4 127.0 103.6 103.3 1

 2 Debt securities 76.6 96.3 55.8 107.9 85.9 85.0 68.5 103.4 86.7 -304.3 -460.0 2

 3 Treasury securities (2) 75.8 94.2 52.5 110.9 86.9 91.0 67.4 103.3 85.8 -304.8 -460.6 3

 4 Agency- and GSE-backed securities 0.6 0.7 1.5 -1.7 -0.5 -2.9 0.7 -0.6 0.6 0.5 0.4 4

 5 Corporate and foreign bonds 0.2 1.4 1.7 -1.3 -0.4 -3.1 0.4 0.6 0.3 0.0 0.2 5

 6 Corporate equities 5.4 -4.2 -4.1 9.1 4.0 7.2 -0.3 5.5 3.7 5.7 -3.8 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 20.2 20.8 50.4 -9.3 22.8 11.5 32.6 10.5 36.6 402.2 567.1 7

 8 Pension entitlements (liabilities) (4) 102.1 113.0 102.1 107.6 112.8 103.8 100.8 119.4 127.0 103.6 103.3 8

 Memo:

 Net acquisition of financial assets (5)

 9 Defined benefit plans 84.2 90.0 87.5 88.7 90.1 88.5 90.4 90.8 90.8 89.8 91.1 9

 10 Defined contibution plans 18.0 23.0 14.5 19.0 22.6 15.3 10.4 28.6 36.2 13.8 12.2 10

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes marketable and nonmarketable Treasury securities.

(3) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(5) Additional detail on defined benefit plans and defined contribution plans is available on tables F.119.b and F.119.c.
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34 Z.1, September 18, 2015

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets (2) 84.2 90.0 87.5 88.7 90.1 88.5 90.4 90.8 90.8 89.8 91.1 1

 2 Debt securities 64.9 71.1 40.4 98.2 68.5 78.3 58.7 82.2 54.8 -67.5 -209.0 2

 3 Treasury securities (3) 65.4 70.4 40.1 98.2 68.7 78.8 59.0 82.1 55.0 -67.0 -208.8 3

 4 Agency- and GSE-backed securities -0.2 -0.2 -0.2 -0.0 -0.2 -0.1 -0.0 -0.5 -0.0 -0.0 -0.0 4

 5 Corporate and foreign bonds -0.3 0.8 0.4 0.1 -0.1 -0.5 -0.3 0.7 -0.2 -0.5 -0.1 5

 6 Corporate equities -0.9 -1.9 -2.0 -1.5 -1.2 -1.3 -0.8 -1.9 -0.6 -1.3 -0.4 6

 7 Claims of pension fund on sponsor (misc. assets) (4) 20.2 20.8 49.2 -8.1 22.8 11.5 32.6 10.5 36.6 158.5 300.5 7

 8 Pension entitlements (liabilities) (5) 84.2 90.0 87.5 88.7 90.1 88.5 90.4 90.8 90.8 89.8 91.1 8

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and

 disability fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 18.0 23.0 14.5 19.0 22.6 15.3 10.4 28.6 36.2 13.8 12.2 1

 2 Debt securities 11.6 25.2 15.4 9.6 17.4 6.8 9.9 21.2 31.9 -236.8 -251.0 2

 3 Treasury securities (2) 10.4 23.7 12.4 12.7 18.2 12.2 8.4 21.2 30.8 -237.8 -251.8 3

 4 Agency- and GSE-backed securities 0.8 0.9 1.7 -1.7 -0.4 -2.8 0.7 -0.0 0.6 0.5 0.4 4

 5 Corporate and foreign bonds 0.5 0.6 1.3 -1.4 -0.4 -2.7 0.7 -0.0 0.6 0.5 0.4 5

 6 Corporate equities 6.3 -2.3 -2.1 10.6 5.2 8.5 0.5 7.4 4.3 6.9 -3.4 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 0.0 0.0 1.2 -1.2 0.0 0.0 0.0 0.0 0.0 243.7 266.6 7

 8 Pension entitlements (liabilities) 18.0 23.0 14.5 19.0 22.6 15.3 10.4 28.6 36.2 13.8 12.2 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.1 0.1 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4 2

 3 Net acquisition of financial assets (1) 244.1 202.2 206.9 207.1 223.6 227.0 229.8 218.8 218.9 207.6 244.1 3

 4 Checkable deposits and currency 0.5 0.4 0.1 0.0 0.7 0.5 3.4 0.8 -1.6 1.5 -0.5 4

 5 Time and savings deposits 5.0 1.9 -3.1 2.5 4.5 3.4 3.4 5.7 5.7 12.0 9.3 5

 6 Money market fund shares 2.1 0.8 -3.7 3.4 5.8 3.1 5.5 4.0 10.4 11.7 13.6 6

 7 Security repurchase agreements 0.3 0.1 -0.3 0.2 0.4 0.3 0.3 0.6 0.6 1.2 0.8 7

 8 Debt securities 26.4 6.5 -0.8 87.3 44.9 39.5 39.5 71.8 29.0 -120.6 30.2 8

 9 Open market paper 4.1 1.8 -3.7 3.0 4.9 6.2 2.7 7.5 3.3 16.4 10.8 9

 10 Treasury securities 11.1 9.4 12.4 12.2 -11.9 3.4 0.7 -18.1 -33.7 -60.6 -11.2 10

 11 Agency- and GSE-backed securities 2.3 -27.4 -25.2 2.6 -4.4 0.1 6.9 -10.3 -14.4 -33.5 -6.8 11

 12 Municipal securities 0.8 -0.6 0.2 1.3 1.1 -0.2 -0.0 1.4 3.1 -6.0 5.8 12

 13 Corporate and foreign bonds 8.1 23.2 15.5 68.2 55.3 30.1 29.2 91.4 70.7 -36.8 31.5 13

 14 Loans (mortgages) -0.3 -0.6 -1.0 -0.5 -0.3 0.5 0.4 -1.8 -0.1 -9.5 1.5 14

 15 Corporate equities -72.1 -62.8 -77.2 -168.4 -94.8 -186.7 -172.5 -6.3 -13.6 140.4 -10.2 15

 16 Mutual fund shares 4.0 -51.3 -11.3 35.9 17.7 26.9 15.8 12.1 16.1 25.1 31.5 16

 17 Miscellaneous assets 278.1 307.2 304.2 246.7 244.5 339.5 334.1 132.0 172.4 145.8 167.9 17

 18 Unallocated insurance contracts (2) 13.6 -10.7 -4.8 -8.1 5.3 4.5 12.9 -3.6 7.4 6.4 8.2 18

 19 Claims of pension fund on sponsor (3) 249.1 316.3 312.2 244.4 237.1 325.8 309.7 141.2 171.7 124.2 154.0 19

 20 Other 15.4 1.6 -3.2 10.4 2.1 9.2 11.6 -5.6 -6.6 15.1 5.7 20

 21 Pension entitlements (liabilities) (4) 244.0 202.1 207.0 207.3 223.9 227.2 230.1 219.0 219.1 207.8 244.4 21

 Net acquisition of financial assets (5)

 22 Defined benefit plans 220.7 215.2 211.7 207.0 200.2 200.4 200.8 200.9 198.7 198.7 198.7 22

 23 Defined contibution plans 23.3 -13.0 -4.8 0.1 23.4 26.6 29.1 17.9 20.2 8.9 45.4 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Additional detail on defined benefit plans and defined contribution plans is available on tables F.120.b and F.120.c.
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36 Z.1, September 18, 2015

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets (1) 220.7 215.2 211.7 207.0 200.2 200.4 200.8 200.9 198.7 198.7 198.7 1

 2 Checkable deposits and currency 0.5 0.2 -0.3 0.3 0.6 0.4 0.4 0.7 0.7 1.5 1.0 2

 3 Time and savings deposits 5.5 2.3 -2.8 2.2 4.7 3.7 3.5 5.9 5.9 12.7 8.7 3

 4 Money market fund shares 2.1 0.4 -3.3 2.6 5.7 4.4 4.2 7.0 7.0 15.2 10.4 4

 5 Security repurchase agreements 0.3 0.1 -0.3 0.2 0.4 0.3 0.3 0.6 0.6 1.2 0.8 5

 6 Debt securities 23.2 4.7 -2.3 89.9 44.9 40.6 38.5 71.0 29.4 -122.2 29.3 6

 7 Open market paper 5.3 2.1 -3.0 2.4 5.2 4.0 3.8 6.4 6.4 13.8 9.5 7

 8 Treasury securities 8.3 7.1 12.0 15.4 -11.3 3.1 1.6 -16.6 -33.4 -57.5 -7.1 8

 9 Agency- and GSE-backed securities 2.5 -26.5 -24.8 2.9 -4.2 4.0 4.4 -9.2 -16.0 -34.7 -8.8 9

 10 Municipal securities 0.7 -0.6 -0.0 0.9 1.0 -0.1 -0.1 1.2 3.0 -6.1 5.7 10

 11 Corporate and foreign bonds 6.5 22.6 13.5 68.3 54.2 29.6 28.7 89.2 69.4 -37.7 30.0 11

 12 Loans (mortgages) -0.3 -0.6 -1.0 -0.5 -0.3 0.5 0.4 -1.8 -0.1 -9.5 1.5 12

 13 Corporate equities -74.1 -64.8 -75.4 -179.0 -108.8 -204.2 -183.2 -25.8 -22.1 140.0 -22.7 13

 14 Mutual fund shares -0.9 -45.0 -12.0 37.4 14.3 19.8 18.6 7.9 11.0 20.5 14.5 14

 15 Miscellaneous assets 264.4 317.9 309.0 254.0 238.7 334.9 318.0 135.5 166.3 139.4 155.3 15

 16 Claims of pension fund on sponsor (2) 249.1 316.3 312.2 244.4 237.1 325.8 309.7 141.2 171.7 124.2 154.0 16

 17 Other 15.3 1.6 -3.1 9.5 1.6 9.1 8.3 -5.7 -5.4 15.1 1.2 17

 18 Pension entitlements (liabilities) (3) 220.7 215.2 211.8 207.2 200.4 200.6 201.0 201.2 199.0 199.0 199.0 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

F.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 23.3 -13.0 -4.8 0.1 23.4 26.6 29.1 17.9 20.2 8.9 45.4 1

 2 Checkable deposits and currency 0.0 0.2 0.4 -0.2 0.2 0.0 3.0 0.1 -2.3 0.0 -1.6 2

 3 Time and savings deposits -0.5 -0.4 -0.3 0.3 -0.2 -0.3 -0.1 -0.2 -0.2 -0.7 0.6 3

 4 Money market fund shares 0.0 0.4 -0.4 0.7 0.1 -1.3 1.4 -3.0 3.4 -3.4 3.2 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 3.2 1.8 1.4 -2.6 0.1 -1.1 0.9 0.8 -0.4 1.6 0.9 6

 7 Open market paper -1.2 -0.3 -0.6 0.6 -0.2 2.2 -1.1 1.1 -3.1 2.6 1.4 7

 8 Treasury securities 2.9 2.3 0.3 -3.2 -0.6 0.3 -1.0 -1.5 -0.3 -3.1 -4.1 8

 9 Agency- and GSE-backed securities -0.2 -0.9 -0.5 -0.3 -0.3 -3.9 2.5 -1.2 1.6 1.1 2.0 9

 10 Municipal securities 0.1 0.0 0.2 0.3 0.1 -0.1 0.0 0.3 0.1 0.1 0.1 10

 11 Corporate and foreign bonds 1.6 0.6 2.0 -0.1 1.1 0.5 0.5 2.1 1.2 0.9 1.5 11

 12 Corporate equities 2.0 1.9 -1.8 10.6 14.0 17.5 10.7 19.4 8.5 0.3 12.5 12

 13 Mutual fund shares 4.9 -6.3 0.7 -1.5 3.4 7.1 -2.8 4.2 5.1 4.6 17.0 13

 14 Miscellaneous assets 13.7 -10.7 -4.9 -7.3 5.9 4.6 16.1 -3.5 6.2 6.4 12.7 14

 15 Unallocated insurance contracts (2) 13.6 -10.7 -4.8 -8.1 5.3 4.5 12.9 -3.6 7.4 6.4 8.2 15

 16 Other 0.1 -0.0 -0.0 0.8 0.6 0.1 3.3 0.1 -1.2 0.0 4.4 16

 17 Pension entitlements (liabilities) 23.3 -13.0 -4.8 0.1 23.4 26.6 29.1 17.9 20.2 8.9 45.4 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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F.121 Money Market Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets -503.2 -112.8 7.1 28.9 9.6 -95.7 -142.0 30.7 245.4 -58.4 25.0 1

 2 Foreign deposits 8.7 -62.9 0.4 -9.6 -9.6 -57.3 29.0 -13.7 3.6 0.8 -8.8 2

 3 Checkable deposits and currency -3.7 5.8 -3.6 -3.2 -17.6 32.2 -16.5 -66.4 -19.6 3.6 24.2 3

 4 Time and savings deposits -107.7 -56.3 32.8 59.4 20.7 50.9 84.7 27.6 -80.5 54.8 12.7 4

 5 Security repurchase agreements -0.6 11.1 54.2 -51.3 151.2 167.9 176.1 -6.5 267.3 43.3 -31.1 5

 6 Debt securities -396.6 -9.8 -82.7 30.8 -120.8 -254.9 -302.3 72.0 1.8 -102.4 50.2 6

 7 Open market paper -116.3 -40.0 -13.3 11.2 -18.5 -8.4 4.6 -34.5 -35.7 6.5 27.0 7

 8 Treasury securities -71.0 107.9 14.5 30.2 -75.3 -127.0 -190.5 58.2 -41.9 77.7 21.5 8

 9 Agency- and GSE-backed securities -140.2 0.9 -60.2 17.7 23.4 -43.3 2.3 39.7 94.7 -134.0 32.7 9

 10 Municipal securities -53.4 -29.4 -20.6 -28.3 -26.7 -23.3 -29.1 -10.2 -44.0 -9.6 -29.8 10

 11 Corporate and foreign bonds -15.7 -49.1 -3.0 -0.0 -23.8 -52.8 -89.5 18.7 28.6 -43.0 -1.1 11

 12 Miscellaneous assets -3.4 -0.8 6.1 2.8 -14.3 -34.5 -113.1 17.6 72.8 -58.5 -22.1 12

 13 Net share issues (liabilities) -503.2 -112.8 7.1 28.9 9.6 -95.7 -142.0 30.7 245.4 -58.4 25.0 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.116).

F.122 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving -24.9 -35.7 -41.5 -57.0 -53.4 -57.1 -54.8 -50.5 -51.1 -50.0 -56.0 1

 2 Net acquisition of financial assets 370.1 338.4 624.9 638.4 595.2 764.7 630.2 568.9 417.0 656.7 493.6 2

 3 Security repurchase agreements -15.8 -28.8 54.1 92.9 46.3 104.7 168.5 -115.0 27.0 -4.0 -42.4 3

 4 Debt securities 354.4 340.5 629.8 324.5 467.4 322.3 488.1 477.4 581.8 523.6 410.3 4

 5 Open market paper -13.9 -26.3 27.6 27.7 15.3 -53.4 47.5 13.4 54.0 -92.6 -24.7 5

 6 Treasury securities 123.9 65.9 122.1 55.0 -13.5 146.2 -248.0 107.9 -59.9 184.6 -21.5 6

 7 Agency- and GSE-backed securities 75.5 114.9 88.0 -24.0 102.8 -62.8 186.8 64.7 222.7 7.7 -31.2 7

 8 Municipal securities 46.7 15.7 86.2 -13.5 43.8 17.3 48.7 51.1 57.9 64.8 34.7 8

 9 Corporate and foreign bonds 122.3 170.3 306.0 279.3 318.9 274.9 453.3 240.3 307.1 359.0 453.0 9

 10 Loans (other loans and advances) -0.8 18.9 12.2 39.4 9.4 60.3 -14.6 9.8 -17.6 23.5 -24.1 10

 11 Corporate equities 44.3 4.9 -38.1 162.5 76.3 146.7 75.0 114.6 -31.1 86.2 149.8 11

 12 Miscellaneous assets -12.0 2.9 -33.1 19.1 -4.3 130.7 -86.9 82.2 -143.0 27.4 0.0 12

 13 Net share issues (liabilities) 370.1 338.4 624.9 638.4 595.2 764.7 630.2 568.9 417.0 656.7 493.6 13

 14 Discrepancy -24.9 -35.7 -41.5 -57.0 -53.4 -57.1 -54.8 -50.5 -51.1 -50.0 -56.0 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.116).

F.123 Closed-End and Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Closed-end funds

 1 Net acquisition of financial assets 0.5 -2.9 2.7 -2.6 -10.7 6.4 9.2 -10.0 -48.2 -11.6 -7.0 1

 2 Debt securities 5.2 -1.7 11.3 13.6 -3.8 1.0 2.8 -10.6 -8.3 -1.7 5.9 2

 3 Treasury securities 0.7 -0.3 0.3 0.6 -0.2 0.3 0.3 -0.5 -1.0 -0.4 -0.0 3

 4 Municipal securities 0.4 0.9 3.5 -1.6 0.5 3.6 2.5 -6.4 2.2 -0.6 -2.2 4

 5 Corporate and foreign bonds 4.1 -2.3 7.5 14.6 -4.0 -2.8 -0.1 -3.8 -9.5 -0.7 8.2 5

 6 Corporate equities -4.7 -1.2 -8.5 -16.1 -6.9 5.3 6.4 0.6 -39.9 -9.9 -12.9 6

 7 Net share issues (liabilities) 0.5 -2.9 2.7 -2.6 -10.7 6.4 9.2 -10.0 -48.2 -11.6 -7.0 7

 Exchange-traded funds

 8 Net acquisition of financial assets 118.0 117.6 185.2 179.0 239.2 57.3 229.6 192.8 477.0 220.5 164.2 8

 9 Debt securities 29.7 46.1 52.3 12.2 51.0 43.8 48.2 24.4 87.6 77.1 7.6 9

 10 Treasury securities 9.2 11.4 1.2 -6.5 13.0 8.7 15.0 5.3 23.0 12.2 2.2 10

 11 Municipal securities 1.7 1.0 3.6 -0.8 3.2 1.5 3.1 3.3 4.8 5.6 2.2 11

 12 Corporate and foreign bonds 18.7 33.6 47.6 19.5 34.8 33.6 30.2 15.8 59.7 59.4 3.2 12

 13 Corporate equities 88.3 71.6 132.9 166.8 188.2 13.5 181.4 168.4 389.4 143.4 156.6 13

 14 Net share issues (liabilities) 118.0 117.6 185.2 179.0 239.2 57.3 229.6 192.8 477.0 220.5 164.2 14
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F.124 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 10.5 8.8 8.4 8.4 7.4 7.4 7.3 7.6 7.2 4.9 6.5 1

 2 Fixed nonresidential investment 3.7 3.4 3.6 4.2 3.5 3.4 3.4 3.5 3.5 3.5 3.6 2

 3 Net acquisition of financial assets -274.1 -205.7 -176.0 104.4 50.2 -397.2 120.4 194.8 282.7 -134.8 106.1 3

 4 Checkable deposits and currency -36.0 9.3 -20.1 29.0 -16.6 -144.7 15.6 159.9 -97.4 -46.2 -49.0 4

 5 Time and savings deposits 0.3 -12.7 -9.1 1.1 -2.1 10.3 -8.1 -1.9 -8.7 -5.4 3.7 5

 6 Federal funds and security repos 20.7 -38.9 38.6 1.5 10.3 -100.1 28.2 -93.5 206.8 -17.9 -68.5 6

 7 Debt securities -72.7 -38.5 -136.7 -94.5 -19.0 -19.3 -36.0 -12.5 -8.0 -25.9 -68.0 7

 8 Open market paper 0.2 -3.4 -3.1 1.0 1.5 1.3 3.6 1.2 -0.1 -1.4 -0.1 8

 9 Treasury securities 45.9 17.6 -31.2 -9.9 5.2 24.4 -2.8 2.1 -3.0 30.0 -4.1 9

 10 Agency- and GSE-backed securities -85.1 -18.1 -48.3 -22.7 7.8 -17.2 8.1 18.9 21.4 -12.3 -27.4 10

 11 Municipal securities -4.2 -3.9 -4.1 -3.5 -2.6 -3.0 -2.1 -3.0 -2.4 -3.6 -3.2 11

 12 Corporate and foreign bonds -29.6 -30.8 -50.0 -59.4 -30.8 -24.8 -42.9 -31.8 -24.0 -38.6 -33.3 12

 13 Loans -215.7 -124.7 -52.8 154.4 88.5 -89.2 123.5 151.4 168.3 -79.6 281.9 13

 14 Other loans and advances -144.7 -64.2 18.6 81.9 84.3 29.7 140.4 88.4 78.7 -45.1 140.2 14

 15 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Farm Credit System 7.2 -3.5 8.3 2.9 11.2 -3.4 12.0 13.5 22.5 -22.7 22.6 16

 17 FHLB loans -151.9 -60.7 10.3 79.0 73.1 33.1 128.3 74.9 56.1 -22.4 117.6 17

 18 Mortgages -71.0 -60.5 -71.4 72.5 4.3 -118.9 -16.8 63.1 89.7 -34.5 141.7 18

 19 Home -76.4 -66.5 -82.9 89.5 2.5 -110.9 -0.8 52.1 69.7 -63.1 116.7 19

 20 Consolidated trusts (2) -192.7 -72.5 -44.9 148.0 28.1 -66.0 23.8 61.6 92.8 -69.5 169.3 20

 21 Other 116.3 5.9 -38.0 -58.5 -25.5 -44.9 -24.6 -9.5 -23.1 6.4 -52.6 21

 22 Multifamily residential 2.0 2.8 6.2 -21.9 -2.7 -18.5 -18.4 8.6 17.3 25.4 22.6 22

 23 Consolidated trusts (2) 25.3 24.5 27.5 18.9 17.8 10.3 8.9 25.7 26.4 25.0 35.8 23

 24 Other -23.3 -21.7 -21.3 -40.8 -20.5 -28.7 -27.2 -17.1 -9.0 0.4 -13.2 24

 25 Farm 3.4 3.3 5.3 5.0 4.4 10.5 2.4 2.3 2.6 3.2 2.3 25

 26 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Miscellaneous assets 29.3 -0.1 4.1 13.1 -11.0 -54.1 -2.7 -8.6 21.5 40.2 6.2 27

 28 Net increase in liabilities -237.8 -208.1 -146.6 100.5 71.2 -375.1 156.1 152.1 351.6 -172.6 70.1 28

 29 Federal funds and security repos 0.1 -0.9 -0.4 0.0 0.1 0.1 -0.1 0.0 0.2 0.1 -0.3 29

 30 Debt securities (GSE issues) (4) -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 93.5 30

 31 Consolidated trusts (2) -167.4 -48.0 -17.4 166.8 45.9 -55.7 32.7 87.3 119.2 -44.5 205.1 31

 32 Other -66.4 -139.2 -137.2 -59.3 29.4 -299.8 124.2 55.2 238.1 -119.1 -111.7 32

 33 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Corporate equities 38.1 29.2 14.5 2.4 -0.5 -5.9 0.0 2.8 1.0 -5.0 -2.8 34

 35 Miscellaneous liabilities -42.2 -49.2 -6.1 -9.4 -3.6 -13.8 -0.7 6.8 -6.9 -4.2 -20.3 35

 36 Discrepancy 43.0 3.0 34.2 0.3 24.9 26.1 39.6 -38.7 72.6 -36.5 -33.1 36

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (F.124).

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.125 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 186.9 165.3 132.2 132.4 75.3 81.7 51.3 72.0 96.3 5.3 122.7 1

 2 Home mortgages 175.8 148.0 105.0 98.8 51.1 62.1 29.1 49.6 63.6 -8.9 87.2 2

 3 Multifamily residential mortgages 11.3 19.4 27.0 33.7 24.3 19.7 22.3 22.5 32.8 14.4 35.5 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages -0.2 -2.1 0.3 -0.2 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.1 5

 6 Net increase in pool securities (liabilities)(2) 186.9 165.3 132.2 132.4 75.3 81.7 51.3 72.0 96.3 5.3 122.7 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.124). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
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F.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets -413.6 -174.2 -145.1 -233.5 -72.3 -169.9 -78.1 -1.2 -40.1 55.6 -16.5 3

 4 Debt securities -109.8 -14.2 -5.8 0.8 -2.4 2.5 -3.2 1.4 -10.1 34.8 8.9 4

 5 Treasury securities -13.8 -10.9 -5.8 1.0 -2.4 2.5 -3.2 1.4 -10.1 34.8 8.9 5

 6 Agency- and GSE-backed securities (1) -96.0 -3.3 -0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Loans -294.4 -155.8 -132.8 -228.8 -65.6 -166.7 -73.2 9.0 -31.3 20.8 -25.1 7

 8 Other loans and advances -38.9 -5.4 -0.6 -11.5 9.1 18.0 -16.5 20.0 14.9 45.2 -14.3 8

 9 Mortgages (2) -213.3 -146.2 -136.0 -216.4 -75.3 -180.5 -57.5 -17.9 -45.2 -20.3 -26.4 9

 10 Home -160.8 -120.9 -106.7 -81.8 -61.4 -62.1 -69.9 -64.6 -48.9 -49.2 -82.7 10

 11 Multifamily residential -8.6 -7.7 -9.6 -5.9 -1.9 -5.1 -5.7 1.4 1.8 0.3 -6.6 11

 12 Commercial -43.9 -17.6 -19.7 -128.7 -12.0 -113.4 18.1 45.4 1.9 28.6 62.9 12

 13 Consumer credit -42.3 -4.1 3.8 -0.8 0.6 -4.1 0.9 6.8 -1.0 -4.1 15.7 13

 14 Trade credit -9.5 -4.2 -6.4 -5.4 -4.4 -5.7 -1.6 -11.6 1.2 -0.0 -0.3 14

 15 Net increase in liabilities -413.9 -174.2 -145.1 -233.5 -72.3 -169.9 -78.1 -1.2 -40.1 55.6 -16.5 15

 16 Commercial paper -40.3 -24.1 -9.0 -7.1 -15.1 -17.8 14.2 -5.7 -51.1 -1.2 42.1 16

 17 Corporate bonds (net) (3) -373.6 -150.1 -136.0 -226.4 -57.2 -152.1 -92.3 4.5 11.0 56.8 -58.6 17

 18 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 Memo:

 Securitized assets not included above

 19 Consumer leases (4) -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 REIT assets (5) -0.5 -3.8 1.3 139.6 11.3 81.6 -23.5 -5.5 -7.4 -28.6 -53.1 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) Net issuance less net acquisition of corporate bonds held as assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(5) Included in table F.128.
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F.127 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 69.9 102.6 106.6 0.5 97.8 101.6 96.2 110.2 83.2 81.0 110.2 1

 2 Fixed nonresidential investment 39.6 51.2 66.3 78.8 86.9 84.1 85.8 89.2 88.4 89.2 89.1 2

 3 Net acquisition of financial assets -212.8 -17.8 -69.6 -20.4 28.9 -8.0 15.5 -13.4 121.4 25.9 -61.8 3

 4 Checkable deposits and currency -1.7 5.1 -3.8 4.2 -0.2 3.2 -2.2 -4.8 3.1 1.9 3.5 4

 5 Time and savings deposits -5.2 15.4 -11.5 12.7 -0.5 9.7 -6.6 -14.5 9.3 5.6 10.4 5

 6 Debt securities (corporate and foreign bonds) -19.8 0.9 -6.3 -10.8 6.0 15.6 2.5 -10.1 16.0 8.5 14.2 6

 7 Loans -91.7 -45.3 -22.3 -8.2 6.4 -27.3 9.8 2.6 40.6 3.7 -7.9 7

 8 Other loans and advances -15.2 3.0 11.2 14.4 10.1 -2.3 20.4 6.5 16.0 18.1 19.1 8

 9 Mortgages -54.2 -30.9 -25.7 -21.9 -8.7 -17.8 -16.5 -10.1 9.7 -18.1 -43.0 9

 10 Consumer credit -22.2 -17.4 -7.8 -0.6 5.0 -7.2 5.9 6.2 14.9 3.7 16.0 10

 11 U.S. direct investment abroad 6.8 12.0 8.5 -1.4 7.9 26.3 7.4 5.9 -8.1 0.0 25.9 11

 12 Miscellaneous assets -101.2 -5.9 -34.2 -16.9 9.3 -35.5 4.6 7.6 60.4 6.3 -108.0 12

 13 Net increase in liabilities -233.1 -26.0 -82.1 -21.6 14.1 -35.6 8.4 -29.2 112.6 69.0 -41.5 13

 14 Debt securities -110.0 -29.4 -73.2 -5.9 18.4 -17.2 37.7 15.4 37.4 53.7 -65.5 14

 15 Open market paper 1.7 10.0 8.2 -10.3 -1.1 -7.0 -0.5 12.6 -9.3 -1.6 45.4 15

 16 Corporate bonds -111.7 -39.4 -81.3 4.4 19.4 -10.2 38.2 2.9 46.7 55.2 -110.9 16

 17 Loans -64.9 15.9 16.4 10.1 10.5 2.2 -20.5 20.0 40.3 28.5 23.7 17

 18 Depository institution loans n.e.c. -64.9 15.9 16.4 10.1 10.5 2.2 -20.5 20.0 40.3 28.5 23.7 18

 19 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Taxes payable 0.3 0.5 0.2 0.1 0.3 0.1 0.1 0.8 0.3 1.6 1.6 20

 21 Foreign direct investment in U.S. 13.2 6.1 -3.3 2.3 3.3 14.3 2.4 1.5 -4.7 0.0 2.3 21

 22 Miscellaneous liabilities -71.7 -19.1 -22.3 -28.2 -18.5 -34.9 -11.2 -67.0 39.2 -14.8 -3.6 22

 23 Investment by parent -12.8 -12.0 -0.9 -1.0 1.0 21.0 -7.8 -10.6 1.2 -11.9 -24.8 23

 24 Other -58.8 -7.1 -21.4 -27.1 -19.4 -55.9 -3.5 -56.4 38.0 -3.0 21.2 24

 25 Discrepancy 9.9 43.2 27.8 -79.5 -3.9 -10.2 3.4 5.2 -14.0 34.9 41.3 25

 Memo:

 26 Consumer leases not included above (2) -16.5 7.9 24.3 23.3 21.6 19.2 22.1 26.7 18.3 17.5 23.4 26

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.126.
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F.128 Real Estate Investment Trusts (REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving -4.8 -7.3 -9.5 -21.6 -14.8 -20.8 -13.6 -14.6 -10.2 -7.8 -21.1 1

 2 Fixed nonresidential investment 5.8 4.9 6.0 6.9 8.1 8.0 8.0 8.1 8.2 8.1 8.1 2

 3 Multifamily residential investment 4.0 6.5 5.3 14.7 7.4 -3.6 19.7 5.4 8.2 11.7 1.0 3

 4 Net acquisition of financial assets 39.7 131.2 161.0 50.1 64.8 99.3 98.6 15.9 45.4 -10.5 -96.0 4

 5 Checkable deposits and currency -5.7 2.5 7.7 -1.3 4.1 -4.6 18.5 2.1 0.5 1.7 -18.9 5

 6 Debt securities 45.4 108.5 119.0 -95.8 11.2 -29.4 41.4 -17.7 50.4 -15.8 -81.4 6

 7 Agency- and GSE-backed securities 38.2 104.7 109.5 -95.6 7.8 -35.4 44.1 -21.4 44.0 -38.9 -79.7 7

 8 Corporate and foreign bonds 7.2 3.8 9.5 -0.2 3.3 6.0 -2.7 3.7 6.4 23.0 -1.7 8

 9 Loans (mortgages) -1.3 11.7 8.6 135.0 32.7 94.0 -6.1 16.6 26.1 -20.1 4.5 9

 10 Home 0.2 11.0 6.9 -3.3 13.9 9.1 6.8 28.7 10.8 -2.8 29.1 10

 11 Multifamily residential -0.3 -0.2 0.1 0.5 1.8 -0.8 0.2 4.3 3.6 0.5 1.6 11

 12 Commercial -1.2 0.9 1.5 137.7 17.0 85.8 -13.1 -16.5 11.6 -17.7 -26.3 12

 13 Miscellaneous assets 1.3 8.5 25.8 12.2 16.9 39.3 44.8 14.9 -31.6 23.8 -0.2 13

 14 Net increase in liabilities 62.3 168.0 211.0 136.4 126.8 131.8 150.8 87.9 136.7 82.6 -9.8 14

 15 Security repurchase agreements 29.9 97.7 102.4 -66.6 7.3 -53.2 36.8 -1.8 47.3 -11.7 -53.2 15

 16 Debt securities 1.0 7.6 26.7 173.6 53.2 115.5 55.1 38.2 4.0 13.3 -2.9 16

 17 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds 1.0 7.6 26.7 173.6 53.2 115.5 55.1 38.2 4.0 13.3 -2.9 18

 19 Loans -0.9 18.1 8.8 4.8 21.8 24.6 -5.7 19.2 49.1 32.3 36.5 19

 20 Depository institution loans n.e.c. -1.8 4.6 4.0 -2.9 8.0 12.0 -12.2 13.7 18.7 15.0 24.5 20

 21 Mortgages 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.3 11.9 21

 22 Corporate equity issues 28.2 37.5 47.6 46.2 32.7 18.9 46.9 30.4 34.7 53.9 33.1 22

 23 Miscellaneous liabilities 4.1 7.1 25.4 -21.7 11.8 26.1 17.7 1.9 1.5 -5.3 -23.3 23

 24 Discrepancy 7.9 18.1 29.2 43.1 31.7 7.4 10.8 43.8 64.8 65.6 56.0 24

 Memo:

 25 Securitized assets included above -0.5 -3.8 1.3 139.6 11.3 81.6 -23.5 -5.5 -7.4 -28.6 -53.1 25

 26 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Home mortgages 1.1 -0.7 3.7 4.0 1.5 1.4 -1.6 3.7 2.3 -4.1 4.0 27

 28 Multifamily residential mortgages -0.0 -0.0 -0.0 0.0 -0.0 -0.2 0.3 -0.1 -0.2 -0.3 0.0 28

 29 Commercial mortgages -1.6 -3.0 -2.4 135.6 9.8 80.3 -22.3 -9.1 -9.6 -24.3 -57.1 29

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.128.e and F.128.m.
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F.128.e Equity Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets -0.8 8.1 14.1 13.3 25.2 30.4 43.9 14.8 11.7 26.0 -30.9 1

 2 Checkable deposits and currency -4.1 -2.3 4.1 1.0 3.8 -3.6 15.4 1.8 1.6 -4.3 -14.5 2

 3 Debt securities (corporate and foreign bonds) 0.4 -0.6 -0.2 -1.8 2.2 0.4 1.4 4.3 2.6 1.3 -5.3 3

 4 Loans (mortgages) 0.4 2.9 1.6 -0.1 4.0 3.4 1.0 5.6 6.2 0.4 -1.5 4

 5 Home 0.0 0.1 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.2 -0.1 5

 6 Multifamily residential 0.0 -0.0 0.1 -0.0 -0.1 -0.1 -0.0 -0.1 0.0 0.1 -0.0 6

 7 Commercial 0.3 2.9 1.5 -0.1 4.1 3.6 1.0 5.7 6.1 0.2 -1.3 7

 8 Miscellaneous assets 2.6 8.1 8.5 14.2 15.1 30.1 26.1 3.0 1.3 28.6 -9.5 8

 9 Net increase in liabilities -0.4 37.4 38.5 36.4 61.9 53.8 70.9 60.4 62.6 65.4 37.7 9

 10 Debt securities (corporate bonds) 1.0 13.2 27.6 28.9 33.3 27.6 61.1 34.5 9.9 31.0 19.2 10

 11 Loans -0.9 19.5 6.3 5.6 21.1 24.1 -2.0 17.3 45.0 32.6 33.0 11

 12 Depository institution loans n.e.c. -1.8 6.1 1.4 -2.2 7.4 11.5 -8.4 11.8 14.6 15.3 21.0 12

 13 Mortgages 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.3 11.9 13

 14 Multifamily residential 0.4 0.1 -1.1 3.3 1.0 -1.8 2.1 -0.6 4.4 3.2 -1.9 14

 15 Commercial 0.4 13.3 6.0 4.5 12.7 14.4 4.4 6.1 26.1 14.1 13.8 15

 16 Miscellaneous liabilities -0.5 4.6 4.6 1.9 7.6 2.1 11.9 8.6 7.7 1.9 -14.5 16

F.128.m Mortgage Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 40.5 123.1 146.9 36.8 39.6 68.9 54.8 1.2 33.7 -36.4 -65.1 1

 2 Checkable deposits and currency -1.6 4.8 3.6 -2.3 0.3 -1.0 3.1 0.3 -1.2 6.0 -4.4 2

 3 Debt securities 45.0 109.1 119.2 -94.0 9.0 -29.8 39.9 -22.0 47.8 -17.1 -76.1 3

 4 Agency- and GSE-backed securities 38.2 104.7 109.5 -95.6 7.8 -35.4 44.1 -21.4 44.0 -38.9 -79.7 4

 5 Corporate and foreign bonds 6.8 4.4 9.7 1.6 1.2 5.6 -4.1 -0.6 3.8 21.8 3.6 5

 6 Loans (mortgages) -1.7 8.8 6.9 135.1 28.6 90.6 -7.0 11.0 19.9 -20.5 6.0 6

 7 Home 0.1 10.9 6.8 -3.3 13.9 9.1 6.8 28.7 10.8 -3.0 29.3 7

 8 Multifamily residential -0.3 -0.2 0.1 0.5 1.9 -0.7 0.2 4.5 3.6 0.4 1.6 8

 9 Commercial -1.5 -1.9 -0.0 137.8 12.8 82.2 -14.0 -22.3 5.5 -17.9 -24.9 9

 10 Miscellaneous assets -1.2 0.4 17.2 -2.0 1.7 9.2 18.8 11.9 -32.9 -4.8 9.3 10

 11 Net increase in liabilities 34.4 93.1 124.9 53.8 32.2 59.1 33.0 -2.8 39.4 -36.8 -80.6 11

 12 Security repurchase agreements 29.9 97.7 102.4 -66.6 7.3 -53.2 36.8 -1.8 47.3 -11.7 -53.2 12

 13 Debt securities -0.0 -5.7 -0.9 144.7 19.9 87.8 -5.9 3.7 -5.9 -17.6 -22.1 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds -0.0 -5.7 -0.9 144.7 19.9 87.8 -5.9 3.7 -5.9 -17.6 -22.1 15

 16 Loans (depository institution loans n.e.c.) -0.0 -1.5 2.5 -0.8 0.7 0.5 -3.8 1.9 4.1 -0.3 3.5 16

 17 Miscellaneous liabilities 4.6 2.5 20.9 -23.5 4.2 24.0 5.8 -6.7 -6.2 -7.1 -8.8 17

 Memo:

 18 Securitized assets included above -0.5 -3.8 1.3 139.6 11.3 81.6 -23.5 -5.5 -7.4 -28.6 -53.1 18

 19 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Home mortgages 1.1 -0.7 3.7 4.0 1.5 1.4 -1.6 3.7 2.3 -4.1 4.0 20

 21 Multifamily residential mortgages -0.0 -0.0 -0.0 0.0 -0.0 -0.2 0.3 -0.1 -0.2 -0.3 0.0 21

 22 Commercial mortgages -1.6 -3.0 -2.4 135.6 9.8 80.3 -22.3 -9.1 -9.6 -24.3 -57.1 22
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F.129 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 25.8 6.3 23.4 19.5 15.5 15.1 25.6 15.0 6.2 16.6 -0.6 1

 2 Fixed nonresidential investment 17.9 16.1 13.2 14.4 15.2 14.8 15.1 15.5 15.5 15.7 15.8 2

 3 Net acquisition of financial assets 234.4 29.1 173.7 -298.1 -153.7 257.0 -144.9 -183.5 -543.2 97.2 -124.3 3

 4 Checkable deposits and currency 6.2 14.9 16.3 -16.5 0.0 2.0 8.5 9.5 -19.8 23.6 -14.3 4

 5 Security repurchase agreements 243.4 154.6 55.1 -317.2 -168.2 -190.8 -172.0 -39.4 -270.7 -55.8 129.6 5

 6 Debt securities 44.9 -1.3 103.9 -186.3 -89.2 -82.5 -34.3 -111.3 -128.7 41.9 -52.3 6

 7 Open market paper -5.3 5.9 -12.2 -1.3 -7.8 22.8 -7.8 -46.1 -0.1 3.4 -8.2 7

 8 Treasury securities -28.5 89.1 63.0 -110.5 -75.9 -91.5 -63.6 -22.8 -125.6 25.6 -28.8 8

 9 Agency- and GSE-backed securities 38.9 -2.1 21.9 -55.4 7.7 -3.3 3.4 -30.0 60.8 9.5 4.9 9

 10 Municipal securities 4.6 -9.1 -4.3 -8.0 0.2 -7.1 5.3 -8.0 10.6 7.1 -6.7 10

 11 Corporate and foreign bonds 35.2 -85.0 35.5 -11.1 -13.5 -3.3 28.3 -4.5 -74.4 -3.7 -13.5 11

 12 Loans (other loans and advances) 62.5 -32.4 50.1 46.3 38.5 -77.1 219.0 67.7 -55.6 -84.8 34.5 12

 13 Corporate equities -18.5 -5.0 9.7 18.6 8.7 -85.5 32.0 53.8 34.6 -103.9 11.2 13

 14 U.S. direct investment abroad 8.7 4.9 7.3 11.7 7.2 8.5 2.0 9.7 8.6 5.5 20.2 14

 15 Miscellaneous assets -112.9 -106.6 -68.7 145.2 49.3 682.3 -200.1 -173.5 -111.7 270.7 -253.2 15

 16 Net increase in liabilities 220.4 69.4 126.5 -336.3 -166.1 241.0 -134.1 -185.2 -586.2 112.4 -129.3 16

 17 Security repurchase agreements 195.9 70.5 131.2 -439.3 -220.9 -223.8 -141.9 -283.3 -234.4 -49.8 -219.8 17

 18 Debt securities (corporate bonds) 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 113.5 18

 19 Loans 29.8 31.9 32.8 68.9 65.4 221.8 6.3 113.4 -79.7 7.7 -101.6 19

 20 Depository institution loans n.e.c. (1) 6.2 31.0 -9.2 10.4 12.0 19.0 4.7 9.8 14.3 1.4 6.0 20

 21 Other loans and advances 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 -107.7 21

 22 Corporate equity issues -11.1 14.1 -50.7 -31.0 -11.7 -7.1 -0.1 -0.5 -39.1 10.4 -10.0 22

 23 Trade payables -52.0 -3.8 -0.0 0.3 3.4 1.0 11.9 8.4 -7.8 5.0 17.7 23

 24 Taxes payable -2.1 -1.1 0.5 0.6 0.3 3.2 2.5 1.1 -5.5 3.3 -2.5 24

 25 Foreign direct investment in U.S. 13.2 18.2 15.4 6.2 3.7 5.2 2.2 0.2 7.3 7.1 5.9 25

 26 Miscellaneous liabilities 9.0 -19.4 -7.7 41.3 -19.9 195.7 24.1 -73.5 -225.8 195.8 68.6 26

 27 Investment by parent companies -51.2 40.4 71.3 72.6 28.1 109.4 121.6 -154.7 36.0 36.1 162.9 27

 28 Other 60.2 -59.8 -79.0 -31.3 -48.0 86.2 -97.5 81.3 -261.8 159.7 -94.3 28

 29 Proprietors’ net investment 0.9 -2.9 6.7 -5.6 2.0 3.8 -1.6 7.0 -1.1 -1.1 -1.1 29

 30 Discrepancy -6.0 30.5 -37.0 -33.0 -12.2 -15.7 21.3 -2.1 -52.2 16.1 -21.4 30

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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F.130 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 94.6 130.8 162.4 146.3 172.8 144.1 185.3 178.8 183.0 152.9 219.5 1

 2 Fixed nonresidential investment 31.9 37.0 41.1 39.4 41.9 40.8 41.5 42.6 42.7 43.1 43.5 2

 3 Net acquisition of financial assets -11.0 68.7 -124.1 338.7 91.2 158.8 279.5 -105.1 31.5 -122.2 148.6 3

 4 Time and savings deposits -1.3 2.4 -0.3 1.5 -8.9 6.5 -24.5 38.3 -55.8 27.0 9.1 4

 5 Security repurchase agreements 2.1 0.2 -49.3 -2.8 -5.1 -0.4 7.7 -5.4 -22.4 12.9 7.3 5

 6 Debt securities 17.9 -0.9 -66.8 59.0 -0.2 -14.7 27.6 37.4 -51.0 -22.0 1.7 6

 7 Treasury securities 13.8 7.1 -30.6 8.5 -2.8 -0.4 20.9 8.7 -40.4 -14.4 -5.5 7

 8 Agency- and GSE-backed securities -3.2 12.0 -24.3 13.5 0.0 -7.4 1.2 3.0 3.2 12.2 -5.5 8

 9 Corporate and foreign bonds 7.3 -20.1 -11.9 37.0 2.6 -6.9 5.4 25.7 -13.8 -19.8 12.8 9

 10 Loans (other loans and advances) 4.3 4.0 16.7 -2.8 -10.9 -10.7 -35.6 -1.1 3.9 -9.9 -28.9 10

 11 Life insurance reserves 3.8 2.4 7.3 5.1 5.0 4.7 5.3 4.8 5.3 4.2 4.0 11

 12 Miscellaneous assets -37.7 60.6 -31.8 278.8 111.2 173.4 299.2 -179.0 151.4 -134.5 155.4 12

 13 Net trans. with depository institution subs. 33.4 76.1 101.2 59.2 195.9 179.2 200.8 108.0 295.8 -81.7 117.0 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 -6.8 -6.0 0.1 -2.2 1.9 -0.2 0.9 -5.5 2.8 14

 15 Net trans. with life insurance company subs. 22.2 9.3 10.3 3.4 0.8 0.9 2.3 -0.3 0.2 1.1 0.2 15

 16 Net trans. with finance company subs. -39.5 -20.3 -3.5 -15.8 -13.1 -45.9 -3.0 -4.0 0.5 -4.5 -9.5 16

 17 Net trans. with broker and dealer subs. -24.3 -13.0 52.3 57.1 4.8 99.9 56.3 -163.8 26.8 -67.3 215.7 17

 18 Net trans. with foreign subs. 10.6 30.6 -51.5 -16.9 -14.6 -32.6 29.9 -16.0 -39.6 34.9 -47.1 18

 19 Other -40.1 -22.2 -133.7 197.8 -62.7 -26.0 11.0 -102.6 -133.1 -11.4 -123.6 19

 20 Net increase in liabilities -64.9 -49.3 -199.0 205.4 -39.8 71.1 133.4 -247.6 -115.9 -257.5 -16.6 20

 21 Security repurchase agreements 0.2 0.4 -1.2 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.1 0.1 21

 22 Debt securities -42.6 -80.4 20.3 -13.2 8.0 20.6 93.8 -51.9 -30.5 -45.4 15.7 22

 23 Commercial paper 3.9 11.1 6.2 -19.9 -19.6 -27.5 6.5 -37.7 -19.7 -28.0 -54.8 23

 24 Corporate bonds -46.5 -91.6 14.1 6.7 27.6 48.1 87.3 -14.2 -10.9 -17.5 70.5 24

 25 Loans (depository institution loans n.e.c.) 26.1 64.0 -120.2 13.8 -16.3 -7.7 -89.9 6.9 25.4 -9.9 -16.6 25

 26 Corporate equity issues 19.8 2.9 0.6 -17.1 -0.3 -2.7 30.3 -1.3 -27.6 48.9 2.0 26

 27 Miscellaneous liabilities -68.5 -36.2 -98.6 222.0 -31.1 60.9 99.1 -201.3 -83.2 -251.2 -17.8 27

 28 Equity, etc. -22.4 6.9 -29.1 -0.1 -0.3 70.2 99.6 -102.0 -68.8 -165.3 36.4 28

 29 Other -46.1 -43.1 -69.5 222.1 -30.9 -9.2 -0.5 -99.3 -14.4 -85.9 -54.2 29

 30 Discrepancy 8.8 -24.3 46.5 -26.4 -0.1 15.6 -2.4 -6.3 -7.1 -25.5 10.8 30

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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F.131 Funding Corporations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets -165.9 -154.4 -102.0 -58.9 23.2 102.3 -62.8 7.9 45.6 249.8 57.6 1

 2 Money market fund shares -148.0 -83.4 -62.4 -61.5 20.6 -52.0 -137.4 32.8 239.1 132.8 -34.7 2

 3 Security repurchase agreements 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 40.7 -62.3 -40.2 -8.0 -1.9 140.2 26.6 -63.2 -111.2 43.4 91.4 4

 5 Open market paper 50.5 -5.0 -4.0 -16.8 -6.6 91.8 45.8 -58.7 -105.3 29.5 112.3 5

 6 Corporate and foreign bonds -9.8 -57.3 -36.2 8.9 4.7 48.4 -19.2 -4.5 -5.9 13.9 -20.9 6

 7 Loans (other loans and advances) -1.5 -2.0 -6.5 -2.3 1.5 3.0 -5.1 1.0 7.1 -1.9 2.1 7

 8 Corporate equities (2) 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets -58.4 19.6 7.2 13.0 3.0 11.0 53.1 37.2 -89.3 75.5 -1.2 9

 10 Investment in foreign banking offices -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 51.6 10

 11 Investment in brokers and dealers -26.9 53.4 19.0 15.5 23.3 9.6 65.3 9.1 9.2 103.4 -52.7 11

 12 Net increase in liabilities -165.9 -154.4 -102.0 -58.9 23.2 102.3 -62.8 7.9 45.6 249.8 57.6 12

 13 Debt securities -50.6 -1.2 4.4 27.7 26.5 -19.1 77.0 85.4 -37.1 30.7 53.1 13

 14 Open market paper -47.4 -72.7 -30.9 16.2 4.3 -11.5 5.9 93.8 -70.9 -68.8 133.0 14

 15 Corporate bonds -3.2 71.6 35.3 11.4 22.2 -7.6 71.1 -8.4 33.8 99.5 -79.9 15

 16 Loans -14.8 -51.2 -28.3 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Depository institution loans n.e.c. (3) -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other loans and advances (4) 7.2 0.7 -6.8 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Corporate equities (5) 3.5 -18.4 -8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Foreign direct investment in U.S. 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 20

 21 Miscellaneous liabilities -104.6 -84.3 -70.0 -86.5 -3.9 120.8 -140.3 -78.2 82.1 218.5 3.9 21

 22 Securities loaned (net) -123.5 -74.6 -79.2 94.0 47.1 484.0 -192.0 -44.8 -58.9 139.1 -209.2 22

 23 Equity interest under PPIP 7.9 1.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other (net) 10.9 -11.1 9.1 -180.5 -51.0 -363.2 51.6 -33.4 141.1 79.4 213.2 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.
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F.132 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Foreign income from U.S. 3115.5 3485.8 3582.1 3616.9 3742.5 3684.4 3757.2 3753.7 3774.4 3687.9 3687.4 1

 2 U.S. imports 2365.0 2686.4 2763.8 2771.7 2871.9 2830.8 2887.0 2875.2 2894.6 2808.9 2797.7 2

 3 U.S. income payments to rest of world 514.1 546.0 563.9 575.8 591.2 581.2 593.3 597.8 592.3 589.5 608.0 3

 4 Curr. taxes and trans. payments to rest of world 236.4 253.4 254.3 269.5 279.4 272.4 276.9 280.7 287.5 289.4 281.7 4

 5 Foreign outlays to U.S. 2669.6 3004.2 3113.9 3221.2 3341.3 3281.7 3383.4 3361.1 3339.1 3213.2 3252.7 5

 6 U.S. exports 1852.3 2106.4 2198.2 2263.3 2341.9 2301.5 2356.2 2360.6 2349.5 2257.3 2280.3 6

 7 U.S. income receipts from rest of world 720.0 792.6 801.5 826.2 854.3 840.0 850.4 869.7 857.0 817.0 826.3 7

 8 Curr. taxes and trans. payments from rest of world 97.2 105.2 114.2 131.7 145.1 140.2 176.9 130.7 132.6 138.9 146.2 8

 9 - Net capital transfers paid (1) -0.7 -1.6 6.5 -0.8 -0.4 -0.5 -0.4 -0.4 -0.4 -0.4 -0.4 9

 10 Gross saving less net capital transfers paid (2) 446.6 483.2 461.6 396.6 401.6 403.2 374.2 393.1 435.7 475.1 435.1 10

 11 Gross investment 268.2 416.7 462.8 373.4 323.5 626.1 366.9 132.7 168.3 -345.5 592.8 11

 12 Nonproduced nonfinancial assets -0.0 -0.0 -0.1 0.0 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 12

 13 Net lending (+) or net borrowing (-) 268.2 416.7 462.8 373.4 323.5 626.2 366.9 132.7 168.3 -345.5 592.7 13

 14 Net acquisition of financial assets 1087.5 1049.7 851.2 1155.8 1127.9 1426.1 1213.7 1360.5 511.4 1084.2 1145.3 14

 15 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net interbank assets -61.8 213.9 -136.0 312.2 30.6 468.1 114.3 56.2 -516.3 -30.7 -115.2 17

 18 U.S. checkable deposits and currency 29.5 81.8 68.2 50.9 79.7 119.7 66.6 14.8 117.6 65.1 -18.1 18

 19 U.S. time deposits 4.9 47.3 38.0 52.5 47.0 64.9 137.3 -14.5 0.1 26.4 -74.0 19

 20 Money market fund shares -7.1 4.6 22.6 11.3 5.2 -3.6 -3.6 7.3 20.7 -13.2 -5.1 20

 21 Security repurchase agreements 92.4 92.6 -6.9 35.3 105.4 241.8 118.7 -57.8 118.7 -51.5 -243.5 21

 22 Debt securities 639.4 203.6 495.7 547.7 534.3 437.0 439.2 568.5 692.5 168.0 1388.7 22

 23 Open market paper -10.7 0.7 -0.1 -1.7 7.6 20.7 42.1 12.9 -45.2 45.3 -23.1 23

 24 Treasury securities 740.4 355.3 589.7 424.9 317.4 501.2 378.9 244.8 144.6 -139.2 565.7 24

 25 Treasury bills -40.2 -62.6 14.0 23.3 -13.3 33.7 -139.5 -58.1 110.6 135.8 112.8 25

 26 Other Treasury securities 780.5 417.9 575.8 401.6 330.7 467.5 518.4 302.8 34.0 -275.0 452.9 26

 27 Agency- and GSE-backed securities -66.6 -41.6 -73.6 -83.7 -5.2 -142.0 -79.4 70.3 130.4 -59.8 127.9 27

 28 Municipal securities 13.1 0.6 -0.6 4.3 4.3 2.8 1.8 5.3 7.4 8.3 12.9 28

 29 U.S. corporate bonds (4) -36.8 -111.5 -19.7 203.9 210.1 54.3 95.7 235.2 455.3 313.4 705.2 29

 30 Loans to U.S. corporate business -20.2 33.9 -52.2 -4.2 50.1 56.2 1.0 117.3 25.8 -25.0 9.8 30

 31 U.S. corporate equities 127.8 44.0 126.8 -58.7 101.8 368.9 -59.7 219.5 -121.4 104.9 13.6 31

 32 Mutual fund shares 58.2 74.7 89.7 -20.0 48.1 31.2 123.5 75.5 -38.0 38.1 -77.2 32

 33 Trade receivables 18.6 17.1 11.6 12.3 14.3 52.6 20.4 -18.3 2.4 8.7 10.0 33

 34 Foreign direct investment in U.S. (5) 205.9 236.1 193.8 216.6 111.6 -410.7 255.9 392.1 209.1 793.3 256.3 34

 35 Net increase in liabilities 819.3 633.0 388.3 782.4 804.4 799.9 846.8 1227.8 343.1 1429.7 552.7 35

 36 U.S. official reserve assets 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -16.6 -3.5 36

 37 U.S. private deposits 71.6 -215.0 -147.5 26.7 -114.3 -95.4 -73.2 198.3 -487.1 -92.8 -271.7 37

 38 Security repurchase agreements 207.9 96.4 40.2 -84.0 26.4 251.7 -196.1 119.2 -69.4 211.1 -49.5 38

 39 Debt securities 124.7 128.2 159.0 202.8 108.8 91.4 339.7 74.8 -70.6 274.4 66.7 39

 40 Commercial paper -2.7 -53.5 27.9 34.0 -22.6 63.8 33.9 -205.9 17.7 188.8 -24.3 40

 41 Bonds 127.4 181.7 131.2 168.9 131.4 27.7 305.8 280.8 -88.4 85.6 91.1 41

 42 Loans 24.3 44.6 36.0 40.5 31.4 55.5 61.1 -30.0 39.1 44.5 42.5 42

 43 Depository institution loans n.e.c. 24.0 43.2 30.4 39.1 28.6 54.9 56.4 -30.6 33.7 41.0 44.0 43

 44 Other loans and advances 0.3 1.4 5.6 1.4 2.8 0.5 4.8 0.6 5.5 3.5 -1.5 44

 45 Foreign corporate equities (6) 79.2 7.0 95.8 284.3 436.5 331.3 362.7 526.3 525.9 674.9 466.8 45

 46 Trade payables 6.0 4.0 0.7 9.8 -6.8 -29.9 10.7 -7.0 -0.7 -7.2 -2.5 46

 47 U.S. direct investment abroad (4,5) 301.1 419.1 339.7 328.6 336.9 231.2 303.5 363.4 449.7 302.1 347.9 47

 48 Miscellaneous liabilities 2.7 132.9 -140.0 -23.3 -11.0 -32.1 35.5 -13.6 -33.7 39.4 -44.0 48

 49 U.S. equity in IBRD, etc. 2.3 2.6 2.4 2.2 2.3 0.0 6.8 1.9 0.7 7.3 3.8 49

 50 Nonofficial foreign currencies -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 -0.7 50

 51 Investment by holding companies 10.6 30.6 -51.5 -16.9 -14.6 -32.6 29.9 -16.0 -39.6 34.9 -47.1 51

 52 Discrepancy (FOF basis) 178.4 66.5 -1.2 23.2 78.1 -222.9 7.3 260.4 267.5 820.6 -157.7 52

 Memo:

 53 Net U.S. exports, NIPA basis -512.7 -580.0 -565.7 -508.4 -530.0 -529.4 -530.9 -514.6 -545.2 -551.6 -517.5 53

 54 + Net U.S. income receipts (7) 206.0 246.6 237.6 250.4 263.1 258.8 257.0 271.9 264.7 227.5 218.3 54

 55 - Curr. taxes and trans. payments to rest of world 236.4 253.4 254.3 269.5 279.4 272.4 276.9 280.7 287.5 289.4 281.7 55

 56 + Curr. taxes and trans. payments from rest of world 97.2 105.2 114.2 131.7 145.1 140.2 176.9 130.7 132.6 138.9 146.2 56

 57 = Balance on current account, NIPAs -445.9 -481.5 -468.2 -395.8 -401.1 -402.7 -373.8 -392.7 -435.3 -474.7 -434.7 57

(1) Table F.5, line 64.

(2) Line 1 minus line 5 minus line 8; equals net lending (+) or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 54 with the sign reversed minus line 8.

(3) U.S. net sales, sign reversed.

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

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
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F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -16.6 -3.5 1

 2 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Rest of the world 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -16.6 -3.5 3

 4 SDR holdings 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserve position in IMF 1.3 18.1 4.0 -3.4 -3.8 -4.2 2.8 -3.8 -10.3 -16.8 -3.7 5

 6 Other reserves 0.5 -0.5 0.4 0.3 0.2 0.3 0.2 0.2 0.2 0.1 0.2 6

 7 Net change in assets 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -16.6 -3.5 7

 8 Federal government 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -16.7 -3.6 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Reserve position in IMF 1.3 18.2 4.0 -3.4 -3.9 -4.2 2.9 -4.2 -10.3 -16.8 -3.7 11

 12 Other reserves 0.3 -0.2 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.1 0.1 12

 13 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority 0.3 -0.3 0.2 0.2 0.2 0.2 0.1 0.5 0.1 0.1 0.1 16

 17 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Reserve position in IMF 0.0 -0.1 0.0 0.0 0.1 0.1 -0.0 0.4 0.0 -0.0 0.0 18

 19 Other reserves 0.3 -0.2 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.1 0.1 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 0.0 3

 4 Asset: Monetary authority 0.9 0.7 0.6 0.7 0.8 1.0 0.9 0.8 0.5 1.5 1.1 4

 5 Discrepancy (seigniorage) -1.1 -0.7 -0.6 -1.1 -1.1 -1.0 -0.9 -1.8 -0.5 -1.5 -1.1 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total rest of the world liability 71.6 -215.0 -147.5 26.7 -114.3 -95.4 -73.2 198.3 -487.1 -92.8 -271.7 1

 Held by:

 2 Household sector 4.5 -9.9 -7.9 2.3 -6.4 -4.8 -4.7 11.6 -27.7 -6.1 -18.7 2

 3 Nonfinancial corporate business 9.1 -5.8 0.6 42.7 -6.7 -41.2 39.7 9.0 -34.2 -52.6 66.6 3

 4 Money market mutual funds 8.7 -62.9 0.4 -9.6 -9.6 -57.3 29.0 -13.7 3.6 0.8 -8.8 4

 5 Discrepancy--unallocated assets 49.2 -136.3 -140.5 -8.7 -91.6 7.9 -137.2 191.4 -428.7 -34.9 -310.8 5
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F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities -142.8 820.5 -194.5 1129.1 115.0 1427.3 8.7 403.0 -1379.0 501.8 -1054.2 1

 2 Monetary authority -11.1 602.3 -64.1 760.6 131.0 782.7 49.3 332.8 -641.0 245.2 -773.7 2

 3 U.S.-chartered depository institutions -201.3 -263.4 -114.2 191.0 54.2 179.8 -21.3 298.2 -239.9 326.8 -490.8 3

 4 Foreign banking offices in U.S. 30.7 504.6 -1.9 175.1 -70.2 423.4 20.0 -220.0 -504.4 -117.8 247.8 4

 5 Banks in U.S.-affiliated areas 0.9 -1.2 -0.4 0.2 -0.6 -3.2 -1.4 2.6 -0.5 -1.7 -1.9 5

 6 Credit unions 38.1 -21.9 -13.8 2.2 0.7 44.5 -37.9 -10.7 6.7 49.3 -35.6 6

 7 Net change in assets -168.7 817.0 -200.1 1072.3 162.1 1252.3 164.3 388.1 -1156.5 213.4 -887.1 7

 8 Monetary authority -95.7 0.8 0.0 -0.5 0.5 1.5 0.6 -0.9 0.7 -1.2 1.8 8

 9 U.S.-chartered depository institutions -87.8 231.0 6.9 456.9 192.7 235.3 117.1 290.1 128.4 255.6 -792.8 9

 10 Foreign banking offices in U.S. 66.7 360.2 -72.2 309.3 -59.3 491.9 -9.6 76.6 -795.9 -66.0 57.6 10

 11 Credit unions 10.0 11.1 1.2 -5.7 -2.5 55.5 -58.1 -33.9 26.6 55.6 -38.4 11

 12 Rest of the world -61.8 213.9 -136.0 312.2 30.6 468.1 114.3 56.2 -516.3 -30.7 -115.2 12

 13 Discrepancy 25.8 3.5 5.7 56.8 -47.1 174.9 -155.6 14.9 -222.5 288.4 -167.1 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority -2.2 8.1 7.1 2.6 2.0 1.7 3.2 4.8 -1.5 8.1 5.6 14

 15 Asset: U.S.-chartered depository institutions -2.2 8.1 7.1 2.5 2.0 1.8 3.1 4.9 -1.6 8.2 5.6 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 -0.0 0.1 -0.1 0.1 -0.2 -0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority -8.9 594.2 -71.2 758.0 128.9 781.0 46.1 328.0 -639.4 237.1 -779.3 17

 18 Asset: U.S.-chartered depository institutions -85.6 222.9 -0.2 454.4 190.7 233.6 114.0 285.2 130.0 247.4 -798.4 18

 19 Foreign banking offices in U.S. 66.7 360.2 -72.2 309.3 -59.3 491.9 -9.7 76.7 -796.0 -65.8 57.6 19

 20 Credit unions 10.0 11.1 1.2 -5.7 -2.5 55.5 -58.1 -33.9 26.6 55.6 -38.4 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions -95.7 0.8 0.0 -0.5 0.5 1.5 0.6 -0.9 0.7 -1.2 1.8 21

 22 Asset: Monetary authority -95.7 0.8 0.0 -0.5 0.5 1.5 0.6 -0.9 0.7 -1.2 1.8 22

 23 Federal Reserve float 0.7 0.8 0.1 -0.5 0.4 1.7 0.1 -1.6 1.4 -0.8 1.3 23

 24 Loans -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 0.5 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) -78.4 -309.3 -87.8 153.5 102.0 56.8 73.9 297.6 -20.3 106.4 -373.3 25

 26 Due to foreign affiliates 21.5 -222.2 -199.0 103.7 15.8 -27.0 -52.7 275.1 -132.4 31.1 -238.4 26

 27 - Due from foreign affiliates 99.9 87.1 -111.1 -49.8 -86.2 -83.7 -126.6 -22.5 -112.1 -75.3 134.9 27

 28 Foreign banking offices in U.S. (net) 37.0 512.1 -51.6 157.9 -67.2 403.3 52.4 -233.1 -491.3 -137.5 262.3 28

 29 Due to foreign affiliates 53.8 296.7 -90.0 143.3 -123.8 80.6 117.2 -118.4 -574.4 -150.6 -3.0 29

 30 - Due from foreign affiliates 16.8 -215.4 -38.3 -14.6 -56.6 -322.6 64.8 114.6 -83.0 -13.1 -265.3 30

 31 Less: Deposits at foreign banks 13.6 -12.4 -2.6 -0.3 1.4 2.0 3.1 -0.0 0.6 -6.4 -3.3 31

 32 U.S.-chartered depository institutions 6.9 -4.0 -3.3 0.4 0.8 4.2 1.7 -0.1 -2.7 0.2 -9.3 32

 33 Foreign banking offices in U.S. 6.6 -8.4 0.7 -0.8 0.7 -2.1 1.4 0.1 3.4 -6.6 6.0 33

 34 Plus: Loans from foreign banks -6.8 -1.3 0.8 0.5 -2.8 10.1 -8.8 -8.3 -4.0 -6.0 -7.5 34

 35 U.S.-chartered depository institutions -3.4 0.4 -0.2 -0.1 -2.3 1.6 -5.2 -3.4 -2.2 -0.5 -3.2 35

 36 Foreign banking offices in U.S. -3.4 -1.7 1.1 0.5 -0.5 8.5 -3.6 -5.0 -1.9 -5.5 -4.3 36

 37 Asset: Rest of the world (1) -61.8 213.9 -136.0 312.2 30.6 468.1 114.3 56.2 -516.3 -30.7 -115.2 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) -16.8 40.8 -29.5 38.5 -45.3 124.1 -88.9 4.7 -220.9 222.3 -125.3 38

 39 Due to (3): -14.0 21.7 23.0 52.1 -48.5 153.3 -95.3 -17.2 -234.8 224.5 -128.1 39

 40 Foreign banking offices in U.S. -0.8 -4.9 3.1 -2.3 -1.4 19.7 20.9 -40.1 -6.1 -16.3 1.5 40

 41 Banks in U.S.-affiliated areas -0.9 1.2 0.4 -0.2 0.6 3.2 1.4 -2.6 0.5 1.7 1.9 41

 42 Credit unions -38.1 21.9 13.8 -2.2 -0.7 -44.5 37.9 10.7 -6.7 -49.3 35.6 42

 43 - Due from: Foreign banking offices in U.S. 2.9 -19.1 52.5 13.6 -3.3 29.2 -6.4 -21.9 -13.9 2.2 -2.8 43

 44 Unallocated (2) 25.8 3.5 5.7 56.8 -47.1 174.9 -155.6 14.9 -222.5 288.4 -167.1 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 266.3 234.5 267.7 332.6 351.1 226.2 501.5 307.4 369.2 -140.3 873.5 1

 2 Monetary authority 185.0 -122.1 62.1 139.5 152.2 -39.3 65.5 206.6 376.0 -440.3 711.3 2

 3 Federal government cash and deposits 149.0 -255.0 7.0 69.8 61.0 -78.7 -7.4 75.8 254.4 -491.2 621.8 3

 4 Due to government-sponsored enterprises -21.6 51.1 -37.4 -1.3 -5.8 -60.3 1.4 62.9 -27.0 3.0 29.4 4

 5 Deposits due to foreign 0.9 -3.2 6.3 1.5 -2.7 -4.0 -4.1 -2.8 0.0 -0.1 0.1 5

 6 Currency outside banks 56.7 85.0 86.2 69.5 99.7 103.6 75.7 70.7 148.7 48.0 60.0 6

 7 U.S.-chartered depository institutions 69.6 319.4 176.2 148.2 136.2 192.0 389.9 108.6 -145.6 220.1 103.5 7

 8 Federal government deposits -0.1 -2.7 0.3 0.3 0.9 -0.2 1.1 1.7 0.9 -0.6 -0.1 8

 9 Deposits due to foreign -3.8 25.6 -4.2 -0.7 2.2 6.7 13.5 -14.7 3.3 -4.0 -20.1 9

 10 Private domestic deposits 73.5 296.5 180.1 148.6 133.1 185.5 375.3 121.5 -149.8 224.8 123.7 10

 11 Foreign banking offices in U.S. 5.7 23.7 16.2 30.8 45.2 36.3 50.0 -0.0 94.4 46.7 46.9 11

 12 Deposits due to foreign 4.1 4.4 8.9 12.3 14.0 16.4 31.1 8.0 0.4 23.2 4.5 12

 13 Private domestic deposits 1.7 19.3 7.3 18.5 31.2 20.0 18.9 -8.1 94.0 23.5 42.4 13

 14 Banks in U.S.-affiliated areas 0.5 2.8 2.5 6.3 5.2 -3.5 5.2 -3.3 22.5 -1.7 11.2 14

 15 Credit unions 5.5 10.7 10.7 7.9 12.2 40.7 -9.3 -4.5 21.9 34.9 0.6 15

 16 Net change in assets 266.3 234.5 267.7 332.6 351.1 226.2 501.5 307.4 369.2 -140.3 873.5 16

 17 Household sector 38.9 300.3 177.0 120.7 107.6 372.9 164.0 -50.3 -56.3 185.6 245.3 17

 18 Nonfinancial business 76.8 55.5 13.7 89.0 106.0 -114.6 246.9 130.9 160.7 140.3 109.8 18

 19 Corporate 79.6 30.8 -45.5 85.5 71.1 -130.0 209.2 99.9 105.2 115.1 73.3 19

 20 Noncorporate -2.7 24.6 59.3 3.5 34.9 15.4 37.6 31.1 55.5 25.2 36.5 20

 21 Federal government 148.9 -257.6 6.7 69.6 60.8 -36.0 -104.1 73.3 309.8 -450.1 522.6 21

 22 State and local governments 5.7 16.6 -9.2 7.3 15.6 6.5 0.3 19.0 36.8 -24.8 18.8 22

 23 Domestic financial sectors -32.4 37.2 9.9 -4.1 -19.5 -82.7 29.7 119.1 -144.0 -15.3 -103.8 23

 24 Property-casualty insurance companies 5.0 -8.5 12.3 -6.7 5.9 14.9 5.5 3.5 -0.4 -0.6 -20.1 24

 25 Life insurance companies 1.0 2.0 2.7 -9.2 3.6 14.0 -5.9 15.1 -8.5 -2.2 -28.1 25

 26 Private pension funds 2.1 5.6 -1.7 -0.5 0.5 -0.1 2.9 -0.5 -0.3 1.6 -0.6 26

 27 State and local govt. retirement funds 0.5 0.4 0.1 0.0 0.7 0.5 3.4 0.8 -1.6 1.5 -0.5 27

 28 Money market mutual funds -3.7 5.8 -3.6 -3.2 -17.6 32.2 -16.5 -66.4 -19.6 3.6 24.2 28

 29 Government-sponsored enterprises -36.0 9.3 -20.1 29.0 -16.6 -144.7 15.6 159.9 -97.4 -46.2 -49.0 29

 30 Finance companies -1.7 5.1 -3.8 4.2 -0.2 3.2 -2.2 -4.8 3.1 1.9 3.5 30

 31 REITs -5.7 2.5 7.7 -1.3 4.1 -4.6 18.5 2.1 0.5 1.7 -18.9 31

 32 Brokers and dealers 6.2 14.9 16.3 -16.5 0.0 2.0 8.5 9.5 -19.8 23.6 -14.3 32

 33 Rest of the world 29.5 81.8 68.2 50.9 79.7 119.7 66.6 14.8 117.6 65.1 -18.1 33

 34 Checkable deposits 1.2 26.8 11.0 13.2 13.4 19.1 40.5 -9.5 3.6 19.1 -15.6 34

 35 Currency 28.3 55.0 57.1 37.7 66.3 100.7 26.1 24.3 114.0 46.0 -2.5 35

 36 Mail float -1.1 0.8 1.5 -0.7 0.9 -39.7 98.0 0.5 -55.4 -41.2 98.9 36
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F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 115.6 404.1 520.4 409.1 513.2 704.6 452.4 180.5 715.3 836.9 -18.4 1

 2 Small time and savings deposits 298.3 577.4 539.6 307.0 365.0 468.2 379.3 439.7 172.8 992.9 71.7 2

 3 U.S.-chartered depository institutions 271.7 537.1 491.5 256.7 343.8 503.2 323.9 397.4 150.9 834.5 146.1 3

 4 Foreign banking offices in U.S. 5.8 13.2 13.8 27.7 -5.9 -23.4 11.1 9.4 -20.5 167.5 -150.5 4

 5 Banks in U.S.-affiliated areas -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 4.9 5

 6 Credit unions 26.1 27.4 34.4 20.1 25.0 -8.8 41.4 34.7 32.5 -2.0 71.2 6

 7 Large time deposits (1) -182.7 -173.3 -19.2 102.1 148.2 236.4 73.1 -259.1 542.5 -156.0 -90.1 7

 8 U.S.-chartered depository institutions -133.8 -13.2 -9.1 23.9 102.5 -2.8 48.3 -354.1 718.5 32.2 -103.6 8

 9 Foreign banking offices in U.S. -46.5 -163.1 -16.2 71.1 39.7 233.4 26.3 91.3 -192.2 -188.3 6.4 9

 10 Banks in U.S.-affiliated areas -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 4.9 10

 11 Credit unions 2.8 3.4 6.2 4.7 4.1 8.5 -4.3 5.6 6.3 7.2 2.2 11

 12 Net change in assets 115.6 404.1 520.4 409.1 513.2 704.6 452.4 180.5 715.3 836.9 -18.4 12

 13 Household sector 162.8 369.3 411.9 205.5 408.0 458.1 221.8 249.7 702.5 652.7 -91.1 13

 14 Nonfinancial business 62.8 19.2 43.4 51.8 36.7 75.4 33.9 -109.7 147.2 33.6 103.4 14

 15 Corporate 59.9 13.2 33.3 41.0 10.5 69.1 13.4 -125.8 85.4 -38.9 73.6 15

 16 Noncorporate 2.9 6.0 10.1 10.8 26.2 6.3 20.5 16.1 61.7 72.5 29.8 16

 17 Federal government 0.1 -0.3 0.2 -0.5 0.2 -0.1 -0.0 0.4 0.6 -0.6 1.1 17

 18 State and local governments -5.5 16.2 22.1 17.9 7.6 24.4 8.5 2.2 -4.9 27.5 -4.9 18

 19 Domestic financial sectors -109.5 -47.7 4.9 82.0 13.7 81.9 50.8 52.4 -130.2 97.3 47.0 19

 20 Private pension funds -0.6 1.6 -3.9 4.9 0.0 1.1 2.0 -2.7 -0.2 3.4 1.8 20

 21 State and local govt. retirement funds 5.0 1.9 -3.1 2.5 4.5 3.4 3.4 5.7 5.7 12.0 9.3 21

 22 Money market mutual funds -107.7 -56.3 32.8 59.4 20.7 50.9 84.7 27.6 -80.5 54.8 12.7 22

 23 Government-sponsored enterprises 0.3 -12.7 -9.1 1.1 -2.1 10.3 -8.1 -1.9 -8.7 -5.4 3.7 23

 24 Finance companies -5.2 15.4 -11.5 12.7 -0.5 9.7 -6.6 -14.5 9.3 5.6 10.4 24

 25 Holding companies -1.3 2.4 -0.3 1.5 -8.9 6.5 -24.5 38.3 -55.8 27.0 9.1 25

 26 Rest of the world 4.9 47.3 38.0 52.5 47.0 64.9 137.3 -14.5 0.1 26.4 -74.0 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues -503.2 -112.8 7.1 28.9 9.6 -95.7 -142.0 30.7 245.4 -58.4 25.0 1

 2 Net purchases -503.2 -112.8 7.1 28.9 9.6 -95.7 -142.0 30.7 245.4 -58.4 25.0 2

 3 Household sector -183.2 -21.1 0.3 25.5 -33.6 102.5 19.6 -68.5 -188.0 -134.9 68.9 3

 4 Nonfinancial corporate business -157.7 -35.4 57.1 39.7 6.0 -128.3 -43.9 52.0 144.2 -66.8 -8.7 4

 5 Nonfinancial noncorporate business 3.1 0.8 3.0 2.3 4.0 1.4 4.4 3.5 6.9 4.9 4.5 5

 6 State and local governments 14.5 2.1 6.5 3.6 6.8 10.7 14.2 -3.3 5.5 12.6 1.9 6

 7 Property-casualty insurance companies -4.0 -5.6 2.2 -2.2 -1.9 -10.0 5.3 1.5 -4.3 -0.3 -1.0 7

 8 Life insurance companies -12.7 7.9 -1.4 -5.9 6.1 -1.1 -1.2 6.4 20.5 -4.5 -7.5 8

 9 Private pension funds -10.2 16.5 -17.1 12.7 -9.5 -18.4 -5.0 -5.0 -9.7 -0.7 -6.9 9

 10 State and local govt. retirement funds 2.1 0.8 -3.7 3.4 5.8 3.1 5.5 4.0 10.4 11.7 13.6 10

 11 Funding corporations -148.0 -83.4 -62.4 -61.5 20.6 -52.0 -137.4 32.8 239.1 132.8 -34.7 11

 12 Rest of the world -7.1 4.6 22.6 11.3 5.2 -3.6 -3.6 7.3 20.7 -13.2 -5.1 12
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Z.1, September 18, 2015 51

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 421.3 280.7 248.8 -468.1 32.7 261.8 173.8 -435.9 131.0 181.8 -213.2 1

 2 Monetary authority -18.0 40.2 7.3 208.7 193.9 100.4 461.9 -185.5 398.8 108.1 85.2 2

 3 U.S.-chartered depository institutions -48.1 -81.5 -52.6 -80.5 -33.2 55.5 -45.3 -88.0 -55.0 -30.1 -9.8 3

 4 Federal funds (2) ND ND ND -11.0 -19.7 25.4 -0.1 -38.5 -65.4 -39.9 22.0 4

 5 Security repurchase agreements ND ND ND -69.5 -13.5 30.1 -45.2 -49.5 10.4 9.8 -31.8 5

 6 Foreign banking offices in U.S. 54.8 54.4 20.6 -12.3 58.6 132.3 48.9 6.7 46.2 -47.4 32.9 6

 7 Federal funds (2) -75.7 -9.9 -2.6 -2.6 8.3 30.2 -8.6 37.9 -26.2 45.4 -63.3 7

 8 Security repurchase agreements 130.6 64.3 23.3 -9.7 50.2 102.1 57.5 -31.2 72.4 -92.8 96.2 8

 9 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 9

 10 Property-casualty insurance companies 0.8 1.7 -1.0 -0.6 -0.4 -1.4 0.5 -0.6 -0.3 0.4 0.0 10

 11 Life insurance companies -2.2 1.9 2.3 6.5 1.0 0.2 9.1 -2.6 -2.6 1.0 1.2 11

 12 Government-sponsored enterprises 0.1 -0.9 -0.4 0.0 0.1 0.1 -0.1 0.0 0.2 0.1 -0.3 12

 13 REITs 29.9 97.7 102.4 -66.6 7.3 -53.2 36.8 -1.8 47.3 -11.7 -53.2 13

 14 Brokers and dealers 195.9 70.5 131.2 -439.3 -220.9 -223.8 -141.9 -283.3 -234.4 -49.8 -219.8 14

 15 Holding companies 0.2 0.4 -1.2 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.1 0.1 15

 16 Rest of the world 207.9 96.4 40.2 -84.0 26.4 251.7 -196.1 119.2 -69.4 211.1 -49.5 16

 17 Net change in assets 366.5 203.0 261.3 -341.9 161.8 294.1 463.3 -382.8 272.4 -7.0 -223.7 17

 18 Nonfinancial corporate business 4.3 0.4 -2.9 -0.9 4.7 10.1 8.7 -0.2 0.1 -2.6 4.2 18

 19 State and local governments -0.8 -4.7 5.6 3.4 5.9 8.9 11.7 -2.2 4.9 10.5 2.0 19

 20 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 U.S.-chartered depository institutions 0.7 -25.0 60.1 -87.2 -30.4 -54.6 2.8 -25.8 -43.9 120.2 -24.8 21

 22 Federal funds (2) ND ND ND -11.1 -16.4 9.5 5.7 -21.2 -59.6 -20.7 -12.0 22

 23 Security repurchase agreements ND ND ND -76.2 -14.0 -64.1 -2.9 -4.6 15.7 140.9 -12.8 23

 24 Foreign banking offices in U.S. 20.3 31.7 58.2 -1.2 41.1 92.7 111.7 -37.8 -2.5 -73.4 43.0 24

 25 Federal funds (2) -1.8 1.5 -0.8 -1.7 -0.0 1.9 0.9 -1.2 -1.7 -0.8 0.7 25

 26 Security repurchase agreements 22.1 30.2 58.9 0.5 41.1 90.8 110.8 -36.6 -0.7 -72.5 42.3 26

 27 Credit unions -0.1 15.9 -6.2 -9.6 -0.0 0.6 -0.6 -0.1 0.0 0.0 0.0 27

 28 Federal funds ND 15.9 -6.3 -9.6 0.0 0.6 -0.6 0.0 0.0 0.0 0.0 28

 29 Security repurchase agreements ND 0.0 0.1 -0.0 -0.0 0.0 0.0 -0.1 0.0 0.0 0.0 29

 30 Property-casualty insurance companies -0.7 -1.4 -0.8 0.0 -0.1 0.4 -0.6 0.1 -0.4 0.4 -0.1 30

 31 Life insurance companies 0.7 -4.7 2.1 -5.3 0.4 12.4 1.9 0.5 -13.2 9.2 -0.4 31

 32 Private pension funds -0.2 0.0 -0.3 0.4 0.0 0.1 0.2 -0.3 0.1 0.3 0.1 32

 33 State and local govt. retirement funds 0.3 0.1 -0.3 0.2 0.4 0.3 0.3 0.6 0.6 1.2 0.8 33

 34 Money market mutual funds -0.6 11.1 54.2 -51.3 151.2 167.9 176.1 -6.5 267.3 43.3 -31.1 34

 35 Mutual funds -15.8 -28.8 54.1 92.9 46.3 104.7 168.5 -115.0 27.0 -4.0 -42.4 35

 36 Government-sponsored enterprises 20.7 -38.9 38.6 1.5 10.3 -100.1 28.2 -93.5 206.8 -17.9 -68.5 36

 37 Of which: FHLB federal funds (3) 21.3 -34.7 2.9 -14.5 23.3 64.1 -39.9 17.2 51.7 -40.9 -3.6 37

 38 Brokers and dealers 243.4 154.6 55.1 -317.2 -168.2 -190.8 -172.0 -39.4 -270.7 -55.8 129.6 38

 39 Holding companies 2.1 0.2 -49.3 -2.8 -5.1 -0.4 7.7 -5.4 -22.4 12.9 7.3 39

 40 Funding corporations 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world 92.4 92.6 -6.9 35.3 105.4 241.8 118.7 -57.8 118.7 -51.5 -243.5 41

 42 Discrepancy 54.8 77.7 -12.5 -126.2 -129.1 -32.4 -289.6 -53.1 -141.4 188.8 10.5 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations: (4)

 43 Liability: Monetary authority (5) 0.0 0.0 0.0 197.8 199.0 177.3 389.6 -157.9 386.8 -72.9 56.4 43

 44 Asset: Money market mutual funds (6) 0.0 0.0 0.0 163.3 207.9 234.8 334.2 -44.7 307.4 -103.8 107.5 44

 45 Other financial institutions (7) 0.0 0.0 0.0 34.5 -9.0 -57.5 55.5 -113.3 79.4 31.0 -51.1 45

(1) Detailed data on federal funds and security repurchase agreements are only available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 2010:Q4 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(5) Included in line 2.

(6) Included in line 34.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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52 Z.1, September 18, 2015

F.208 Debt Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 By instrument

 1 Total debt securities 1379.0 1081.7 1365.4 1418.5 1307.6 853.7 1435.2 1403.4 1538.1 487.8 1358.2 1

 2 Open market paper -80.4 -88.3 -16.9 -0.8 -21.2 69.8 108.3 -125.8 -137.3 26.8 95.7 2

 3 Treasury securities 1645.3 1137.6 1181.0 857.7 736.0 786.7 481.9 839.4 836.1 -155.3 347.9 3

 4 Agency- and GSE-backed securities -46.2 -20.8 -22.8 239.5 150.5 -275.7 208.3 213.8 455.6 -159.2 218.2 4

 5 Municipal securities 99.7 -52.8 -4.9 -43.2 -18.8 -49.1 -15.5 -58.4 47.6 157.3 52.4 5

 6 Corporate and foreign bonds -239.3 106.0 229.0 365.3 461.2 322.1 652.1 534.4 336.0 618.2 644.0 6

 By sector

 7 Total liabilities 1379.0 1081.7 1365.4 1418.5 1307.6 853.7 1435.2 1403.4 1538.1 487.8 1358.2 7

 8 Domestic nonfinancial sectors 1949.7 1280.9 1512.7 1107.6 1020.1 1097.3 758.9 1002.8 1221.4 409.0 973.9 8

 9 Household sector (nonprofits) -2.2 -7.8 -14.5 -13.1 -4.8 -1.0 -2.3 -9.8 -6.0 -0.4 -13.3 9

 10 Nonfinancial corporate business 237.3 203.6 352.3 302.8 303.0 363.4 278.0 225.2 345.3 439.2 608.1 10

 11 Federal government 1645.9 1138.7 1180.6 857.3 735.9 784.7 482.1 838.7 838.2 -156.3 350.0 11

 12 State and local governments 68.7 -53.6 -5.7 -39.4 -14.0 -49.9 1.1 -51.2 43.9 126.5 29.1 12

 13 Domestic financial sectors -695.4 -327.4 -306.4 108.1 178.6 -335.1 336.6 325.7 387.3 -195.6 317.6 13

 14 U.S.-chartered depository institutions -69.3 10.0 -115.4 -102.7 -17.2 -32.4 -19.7 -16.9 0.2 -79.4 4.1 14

 15 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Government-sponsored enterprises -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 93.5 16

 17 Agency- and GSE-backed mortgage pools 186.9 165.3 132.2 132.4 75.3 81.7 51.3 72.0 96.3 5.3 122.7 17

 18 ABS issuers -413.9 -174.2 -145.1 -233.5 -72.3 -169.9 -78.1 -1.2 -40.1 55.6 -16.5 18

 19 Finance companies -110.0 -29.4 -73.2 -5.9 18.4 -17.2 37.7 15.4 37.4 53.7 -65.5 19

 20 REITs 1.0 7.6 26.7 173.6 53.2 115.5 55.1 38.2 4.0 13.3 -2.9 20

 21 Brokers and dealers 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 113.5 21

 22 Holding companies -42.6 -80.4 20.3 -13.2 8.0 20.6 93.8 -51.9 -30.5 -45.4 15.7 22

 23 Funding corporations -50.6 -1.2 4.4 27.7 26.5 -19.1 77.0 85.4 -37.1 30.7 53.1 23

 24 Rest of the world 124.7 128.2 159.0 202.8 108.8 91.4 339.7 74.8 -70.6 274.4 66.7 24

 25 Total assets: 1379.0 1081.7 1365.4 1418.5 1307.6 853.7 1435.2 1403.4 1538.1 487.8 1358.2 25

 26 Domestic nonfinancial sectors -47.5 -390.3 -224.1 -676.0 -460.0 -1043.1 -275.8 -399.9 -121.4 -240.1 -201.6 26

 27 Household sector -75.4 -202.1 -218.3 -614.5 -464.4 -1027.5 -325.9 -345.0 -159.2 -293.5 -148.8 27

 28 Nonfinancial corporate business 15.6 -8.5 -12.5 -22.0 -17.5 -26.0 -23.3 -11.8 -8.8 -27.0 51.5 28

 29 Nonfinancial noncorporate business 2.5 1.1 4.2 1.7 3.0 1.0 3.2 2.6 5.0 3.6 4.7 29

 30 Federal government -46.9 -118.2 -31.3 -0.1 -0.0 -0.0 -0.1 0.0 0.0 0.0 -0.1 30

 31 State and local governments 56.8 -62.6 33.7 -41.1 18.9 9.5 70.2 -45.7 41.5 76.8 -108.9 31

 32 Domestic financial sectors 787.1 1268.5 1093.8 1546.7 1233.3 1459.8 1271.8 1234.8 966.9 559.9 171.1 32

 33 Monetary authority 316.3 444.0 64.5 1086.6 480.7 911.2 538.6 299.9 173.2 21.6 -11.5 33

 34 U.S.-chartered depository institutions 135.2 108.3 163.6 90.7 241.5 190.0 225.1 265.6 285.2 284.9 202.1 34

 35 Foreign banking offices in U.S. -10.7 2.2 11.4 -50.4 -14.5 2.2 -8.1 -30.3 -21.9 -33.9 -50.0 35

 36 Banks in U.S.-affiliated areas -9.5 -3.5 -2.6 1.5 -1.2 2.1 -5.2 -0.8 -1.1 -0.2 1.5 36

 37 Credit unions 31.1 31.0 17.9 4.6 -9.0 -5.4 -3.4 4.8 -31.9 -3.9 -16.5 37

 38 Property-casualty insurance companies 4.2 35.4 0.3 28.6 13.8 -15.9 12.6 39.7 18.8 -17.0 14.0 38

 39 Life insurance companies 160.4 102.5 60.6 55.1 70.2 97.3 113.1 56.9 13.3 115.2 65.5 39

 40 Private pension funds 117.8 78.4 145.3 89.6 22.6 29.1 29.7 36.5 -4.8 56.5 7.4 40

 41 Federal government retirement funds 76.6 96.3 55.8 107.9 85.9 85.0 68.5 103.4 86.7 -304.3 -460.0 41

 42 State and local govt. retirement funds 26.4 6.5 -0.8 87.3 44.9 39.5 39.5 71.8 29.0 -120.6 30.2 42

 43 Money market mutual funds -396.6 -9.8 -82.7 30.8 -120.8 -254.9 -302.3 72.0 1.8 -102.4 50.2 43

 44 Mutual funds 354.4 340.5 629.8 324.5 467.4 322.3 488.1 477.4 581.8 523.6 410.3 44

 45 Closed-end funds 5.2 -1.7 11.3 13.6 -3.8 1.0 2.8 -10.6 -8.3 -1.7 5.9 45

 46 Exchange-traded funds 29.7 46.1 52.3 12.2 51.0 43.8 48.2 24.4 87.6 77.1 7.6 46

 47 Government-sponsored enterprises -72.7 -38.5 -136.7 -94.5 -19.0 -19.3 -36.0 -12.5 -8.0 -25.9 -68.0 47

 48 ABS issuers -109.8 -14.2 -5.8 0.8 -2.4 2.5 -3.2 1.4 -10.1 34.8 8.9 48

 49 Finance companies -19.8 0.9 -6.3 -10.8 6.0 15.6 2.5 -10.1 16.0 8.5 14.2 49

 50 REITs 45.4 108.5 119.0 -95.8 11.2 -29.4 41.4 -17.7 50.4 -15.8 -81.4 50

 51 Brokers and dealers 44.9 -1.3 103.9 -186.3 -89.2 -82.5 -34.3 -111.3 -128.7 41.9 -52.3 51

 52 Holding companies 17.9 -0.9 -66.8 59.0 -0.2 -14.7 27.6 37.4 -51.0 -22.0 1.7 52

 53 Funding corporations 40.7 -62.3 -40.2 -8.0 -1.9 140.2 26.6 -63.2 -111.2 43.4 91.4 53

 54 Rest of the world 639.4 203.6 495.7 547.7 534.3 437.0 439.2 568.5 692.5 168.0 1388.7 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.
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Z.1, September 18, 2015 53

F.209 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total net issues, all types -80.4 -88.3 -16.9 -0.8 -21.2 69.8 108.3 -125.8 -137.3 26.8 95.7 1

 2 Commercial paper -79.9 -88.2 -16.8 -0.8 -21.2 69.8 108.3 -125.8 -137.3 26.8 95.7 2

 3 Nonfinancial corporate business 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -40.6 -50.0 3

 4 Foreign issues in U.S. -2.7 -53.5 27.9 34.0 -22.6 63.8 33.9 -205.9 17.7 188.8 -24.3 4

 5 Nonfinancial -3.8 -0.5 10.3 11.2 -6.5 28.1 -1.3 -17.8 -35.1 85.8 5.5 5

 6 Financial 1.1 -53.0 17.6 22.8 -16.1 35.7 35.2 -188.1 52.8 103.0 -29.9 6

 7 Domestic financial sectors -101.7 -68.1 -58.7 -48.9 -36.6 -69.0 16.6 57.9 -151.8 -121.4 170.0 7

 8 U.S.-chartered depository institutions -19.7 7.7 -33.1 -27.8 -5.2 -5.2 -9.6 -5.0 -0.9 -21.9 4.3 8

 9 ABS issuers -40.3 -24.1 -9.0 -7.1 -15.1 -17.8 14.2 -5.7 -51.1 -1.2 42.1 9

 10 Finance companies 1.7 10.0 8.2 -10.3 -1.1 -7.0 -0.5 12.6 -9.3 -1.6 45.4 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 3.9 11.1 6.2 -19.9 -19.6 -27.5 6.5 -37.7 -19.7 -28.0 -54.8 12

 13 Funding corporations -47.4 -72.7 -30.9 16.2 4.3 -11.5 5.9 93.8 -70.9 -68.8 133.0 13

 14 Bankers’ acceptances (1) -0.5 -0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions -0.5 -0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net purchases, by sector -80.4 -88.3 -16.9 -0.8 -21.2 69.8 108.3 -125.8 -137.3 26.8 95.7 17

 18 Household sector -1.5 -1.8 -0.6 -3.8 -0.1 3.5 0.9 -0.6 -4.2 1.4 1.7 18

 19 Nonfinancial corporate business 12.0 -0.1 -8.4 -21.3 -6.6 -8.4 -21.5 2.7 0.9 0.1 11.7 19

 20 State and local governments 13.4 -12.2 -6.6 -8.5 -7.4 -5.3 -4.2 -11.9 -8.2 -5.3 -9.7 20

 21 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S.-chartered depository institutions (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Property-casualty insurance companies -1.9 0.9 -1.4 0.7 -0.1 -3.4 2.8 1.3 -1.2 -0.1 -0.4 25

 26 Life insurance companies -8.9 -11.2 13.9 3.2 -4.6 -1.4 -10.1 -11.0 4.1 16.7 -4.7 26

 27 Private pension funds -2.0 2.5 -4.9 5.9 1.0 3.7 1.9 -2.0 0.5 7.0 3.2 27

 28 State and local govt. retirement funds 4.1 1.8 -3.7 3.0 4.9 6.2 2.7 7.5 3.3 16.4 10.8 28

 29 Money market mutual funds -116.3 -40.0 -13.3 11.2 -18.5 -8.4 4.6 -34.5 -35.7 6.5 27.0 29

 30 Mutual funds -13.9 -26.3 27.6 27.7 15.3 -53.4 47.5 13.4 54.0 -92.6 -24.7 30

 31 Government-sponsored enterprises 0.2 -3.4 -3.1 1.0 1.5 1.3 3.6 1.2 -0.1 -1.4 -0.1 31

 32 Brokers and dealers -5.3 5.9 -12.2 -1.3 -7.8 22.8 -7.8 -46.1 -0.1 3.4 -8.2 32

 33 Funding corporations 50.5 -5.0 -4.0 -16.8 -6.6 91.8 45.8 -58.7 -105.3 29.5 112.3 33

 34 Rest of the world -10.7 0.7 -0.1 -1.7 7.6 20.7 42.1 12.9 -45.2 45.3 -23.1 34

(1) Excludes banks’ holdings of own acceptances.
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54 Z.1, September 18, 2015

F.210 Treasury Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 1645.3 1137.6 1181.0 857.7 736.0 786.7 481.9 839.4 836.1 -155.3 347.9 1

 2 Marketable Treasury securities 1590.0 1083.4 1121.9 806.2 646.7 715.0 404.4 745.7 721.5 146.9 879.7 2

 3 Treasury bills -19.0 -249.5 107.0 -35.9 -133.9 238.7 -1055.3 92.9 188.3 79.4 -333.5 3

 4 Other Treasury notes, bonds, and TIPS 1610.6 1334.7 1016.2 834.3 781.9 476.4 1465.3 652.8 533.2 67.5 1218.4 4

 5 Held in the Civil Service Retirement Fund (2) -1.7 -1.8 -1.3 7.9 -1.4 0.0 -5.6 0.0 0.0 0.0 -5.2 5

 6 Nonmarketable Treasury securities 55.3 54.2 59.1 51.4 89.4 71.6 77.5 93.7 114.7 -302.2 -531.8 6

 7 U.S. savings securities -3.3 -2.7 -2.8 -3.3 -3.3 -3.4 -3.1 -3.3 -3.2 -4.1 -4.2 7

 8 State and local government series (SLGS) -21.2 -40.9 10.5 -42.0 -4.1 -43.0 -6.8 5.2 28.1 12.4 -95.8 8

 9 Thrift Savings Plan G Fund 9.9 23.0 10.8 14.2 18.6 15.3 7.6 21.2 30.1 -238.4 -252.2 9

 10 Federal govt. defined benefit pension plans 67.4 72.6 41.7 90.3 70.2 79.0 64.6 82.0 55.1 -66.8 -203.6 10

 11 Other nonmarketable securities 2.5 2.2 -1.2 -7.8 8.0 23.7 15.1 -11.5 4.6 -5.3 24.0 11

 12 Total assets 1645.3 1137.6 1181.0 857.7 736.0 786.7 481.9 839.4 836.1 -155.3 347.9 12

 13 Household sector 316.3 -229.7 190.9 -151.1 -19.8 -471.6 -83.9 -120.3 596.4 -157.3 255.7 13

 14 U.S. savings securities (line 7) -3.3 -2.7 -2.8 -3.3 -3.3 -3.4 -3.1 -3.3 -3.2 -4.1 -4.2 14

 15 Other Treasury securities 319.6 -227.0 193.6 -147.8 -16.6 -468.2 -80.7 -117.0 599.6 -153.3 259.9 15

 16 Nonfinancial corporate business 5.1 -5.1 -3.5 3.3 -4.7 -8.5 -1.0 -2.3 -7.2 -25.8 29.9 16

 17 Nonfinancial noncorporate business 1.9 0.8 4.0 1.5 2.7 0.9 2.9 2.3 4.5 3.2 4.2 17

 18 State and local governments 8.8 -34.4 49.1 -10.7 37.0 9.0 56.5 16.5 66.1 72.0 -68.8 18

 19 SLGS (line 8) -21.2 -40.9 10.5 -42.0 -4.1 -43.0 -6.8 5.2 28.1 12.4 -95.8 19

 20 Other Treasury securities 30.1 6.4 38.6 31.3 41.2 52.0 63.2 11.3 38.0 59.6 27.1 20

 21 Monetary authority 244.9 642.0 2.7 542.6 252.6 498.9 310.2 184.4 16.9 48.4 -8.1 21

 22 Treasury bills 0.0 0.0 -18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other Treasury securities 244.9 642.0 21.1 542.6 252.6 498.9 310.2 184.4 16.9 48.4 -8.1 23

 24 U.S.-chartered depository institutions 93.0 -43.7 69.3 -26.1 203.3 174.3 184.4 226.6 227.9 -4.1 58.0 24

 25 Foreign banking offices in U.S. 3.5 -0.5 16.1 -9.6 -10.5 -2.9 -3.0 -20.7 -15.5 -3.2 6.2 25

 26 Banks in U.S.-affiliated areas 0.6 -0.0 -0.6 0.7 0.2 0.6 -1.9 1.7 0.3 0.6 1.4 26

 27 Credit unions 5.9 -2.5 1.7 -0.2 2.5 5.2 3.6 19.7 -18.6 5.3 -0.2 27

 28 Property-casualty insurance companies 3.2 4.6 -6.7 6.4 5.9 -5.5 13.7 12.1 3.4 -1.8 -0.2 28

 29 Treasury bills -0.3 1.9 -3.3 9.4 3.3 -6.8 12.1 7.9 0.1 -0.4 -1.5 29

 30 Other Treasury securities 3.5 2.7 -3.4 -3.0 2.6 1.3 1.6 4.2 3.4 -1.4 1.3 30

 31 Life insurance companies 23.2 18.8 5.5 -12.2 14.3 13.4 13.8 13.6 16.2 41.5 -8.9 31

 32 Treasury bills -3.6 3.8 -4.5 -2.8 2.0 -0.3 -0.3 2.1 6.5 -1.3 -2.3 32

 33 Other Treasury securities 26.8 15.0 10.0 -9.4 12.3 13.7 14.1 11.6 9.7 42.8 -6.6 33

 34 Private pension funds 31.2 40.7 64.4 -3.4 12.2 14.0 11.5 15.4 7.8 20.4 12.0 34

 35 Defined benefit plans 7.4 32.9 36.0 -2.7 5.6 3.9 5.0 9.5 4.0 12.9 5.2 35

 36 Defined contribution plans 23.9 7.7 28.4 -0.8 6.6 10.1 6.6 5.9 3.8 7.5 6.8 36

 37 Federal government retirement funds 75.8 94.2 52.5 110.9 86.9 91.0 67.4 103.3 85.8 -304.8 -460.6 37

 38 Defined benefit plans 65.4 70.4 40.1 98.2 68.7 78.8 59.0 82.1 55.0 -67.0 -208.8 38

 39 Defined contribution plans 10.4 23.7 12.4 12.7 18.2 12.2 8.4 21.2 30.8 -237.8 -251.8 39

 40 State and local govt. retirement funds 11.1 9.4 12.4 12.2 -11.9 3.4 0.7 -18.1 -33.7 -60.6 -11.2 40

 41 Defined benefit plans 8.3 7.1 12.0 15.4 -11.3 3.1 1.6 -16.6 -33.4 -57.5 -7.1 41

 42 Defined contribution plans 2.9 2.3 0.3 -3.2 -0.6 0.3 -1.0 -1.5 -0.3 -3.1 -4.1 42

 43 Money market mutual funds -71.0 107.9 14.5 30.2 -75.3 -127.0 -190.5 58.2 -41.9 77.7 21.5 43

 44 Treasury bills -84.0 29.1 19.1 6.6 -48.5 -89.1 -139.2 79.0 -44.6 -77.7 101.1 44

 45 Other Treasury securities 13.0 78.8 -4.7 23.6 -26.8 -37.9 -51.3 -20.8 2.8 155.4 -79.6 45

 46 Mutual funds 123.9 65.9 122.1 55.0 -13.5 146.2 -248.0 107.9 -59.9 184.6 -21.5 46

 47 Treasury bills 4.2 -3.2 11.8 -9.6 -9.4 23.6 -45.9 5.3 -20.5 2.7 -11.4 47

 48 Other Treasury securities 119.7 69.0 110.3 64.5 -4.1 122.7 -202.1 102.6 -39.4 182.0 -10.1 48

 49 Closed-end funds 0.7 -0.3 0.3 0.6 -0.2 0.3 0.3 -0.5 -1.0 -0.4 -0.0 49

 50 Exchange-traded funds 9.2 11.4 1.2 -6.5 13.0 8.7 15.0 5.3 23.0 12.2 2.2 50

 51 Government-sponsored enterprises 45.9 17.6 -31.2 -9.9 5.2 24.4 -2.8 2.1 -3.0 30.0 -4.1 51

 52 ABS issuers -13.8 -10.9 -5.8 1.0 -2.4 2.5 -3.2 1.4 -10.1 34.8 8.9 52

 53 Brokers and dealers -28.5 89.1 63.0 -110.5 -75.9 -91.5 -63.6 -22.8 -125.6 25.6 -28.8 53

 54 Holding companies 13.8 7.1 -30.6 8.5 -2.8 -0.4 20.9 8.7 -40.4 -14.4 -5.5 54

 55 Rest of the world 740.4 355.3 589.7 424.9 317.4 501.2 378.9 244.8 144.6 -139.2 565.7 55

 56 Treasury bills -40.2 -62.6 14.0 23.3 -13.3 33.7 -139.5 -58.1 110.6 135.8 112.8 56

 57 Other Treasury securities 780.5 417.9 575.8 401.6 330.7 467.5 518.4 302.8 34.0 -275.0 452.9 57

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds.

 In the Financial Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as

 opposed to intragovernmental holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.
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F.211 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net issues -46.2 -20.8 -22.8 239.5 150.5 -275.7 208.3 213.8 455.6 -159.2 218.2 1

 2 Budget agencies 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 2.1 2

 3 Government-sponsored enterprises -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 93.5 3

 4 Agency- and GSE-backed mortgage pools 186.9 165.3 132.2 132.4 75.3 81.7 51.3 72.0 96.3 5.3 122.7 4

 5 Net purchases -46.2 -20.8 -22.8 239.5 150.5 -275.7 208.3 213.8 455.6 -159.2 218.2 5

 6 Household sector -10.0 40.4 -57.8 -53.7 -200.1 -372.6 -189.8 -38.7 -199.2 -61.5 99.4 6

 7 Nonfinancial corporate business 1.7 -1.7 -1.2 -2.9 2.4 5.2 7.7 -0.8 -2.4 -8.6 10.0 7

 8 Federal government -47.2 -118.1 -31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 24.9 -14.0 -13.6 -23.4 -15.7 -3.6 4.8 -44.0 -20.0 -1.2 -29.8 9

 10 Monetary authority 71.4 -197.9 61.8 543.9 228.1 412.3 228.4 115.5 156.3 -26.8 -3.4 10

 11 U.S.-chartered depository institutions 110.1 106.9 35.5 47.7 43.0 54.9 19.6 89.0 8.4 218.8 121.8 11

 12 Foreign banking offices in U.S. -4.8 4.0 1.5 -6.7 -4.9 -11.5 -6.3 -1.9 0.1 -4.7 15.9 12

 13 Banks in U.S.-affiliated areas -7.7 -8.0 -2.2 -0.8 -0.1 -0.4 0.1 -0.0 -0.2 -1.0 1.4 13

 14 Credit unions 40.9 30.6 14.9 2.2 -11.7 -13.1 -8.7 -12.1 -12.9 -14.9 -16.5 14

 15 Property-casualty insurance companies -0.4 6.9 -8.4 -4.9 -4.2 -6.2 -5.7 -1.9 -3.1 -1.9 1.8 15

 16 Life insurance companies 4.0 -1.6 -13.5 -6.8 -15.0 -12.5 -10.1 -15.8 -21.5 -2.1 15.3 16

 17 Private pension funds 6.5 -9.3 2.0 -5.7 -10.7 -13.8 -5.7 -10.0 -13.5 -6.8 -12.9 17

 18 Federal government retirement funds 0.6 0.7 1.5 -1.7 -0.5 -2.9 0.7 -0.6 0.6 0.5 0.4 18

 19 State and local govt. retirement funds 2.3 -27.4 -25.2 2.6 -4.4 0.1 6.9 -10.3 -14.4 -33.5 -6.8 19

 20 Money market mutual funds -140.2 0.9 -60.2 17.7 23.4 -43.3 2.3 39.7 94.7 -134.0 32.7 20

 21 Mutual funds 75.5 114.9 88.0 -24.0 102.8 -62.8 186.8 64.7 222.7 7.7 -31.2 21

 22 Government-sponsored enterprises -85.1 -18.1 -48.3 -22.7 7.8 -17.2 8.1 18.9 21.4 -12.3 -27.4 22

 23 ABS issuers -96.0 -3.3 -0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 REITs 38.2 104.7 109.5 -95.6 7.8 -35.4 44.1 -21.4 44.0 -38.9 -79.7 24

 25 Brokers and dealers 38.9 -2.1 21.9 -55.4 7.7 -3.3 3.4 -30.0 60.8 9.5 4.9 25

 26 Holding companies -3.2 12.0 -24.3 13.5 0.0 -7.4 1.2 3.0 3.2 12.2 -5.5 26

 27 Rest of the world -66.6 -41.6 -73.6 -83.7 -5.2 -142.0 -79.4 70.3 130.4 -59.8 127.9 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.
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56 Z.1, September 18, 2015

F.212 Municipal Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 99.7 -52.8 -4.9 -43.2 -18.8 -49.1 -15.5 -58.4 47.6 157.3 52.4 1

 2 State and local governments 68.7 -53.6 -5.7 -39.4 -14.0 -49.9 1.1 -51.2 43.9 126.5 29.1 2

 3 Short-term (1) -0.7 -10.6 3.8 -10.9 -6.7 -6.2 7.3 -23.4 -4.4 0.6 12.6 3

 4 Long-term 69.3 -42.9 -9.4 -28.6 -7.4 -43.7 -6.2 -27.8 48.3 125.9 16.5 4

 5 Nonprofit organizations (2) -2.2 -7.8 -14.5 -13.1 -4.8 -1.0 -2.3 -9.8 -6.0 -0.4 -13.3 5

 6 Nonfinancial corporate business 33.2 8.5 15.2 9.3 -0.1 1.7 -14.3 2.6 9.7 31.2 36.6 6

 (industrial revenue bonds)

 7 Net change in assets 99.7 -52.8 -4.9 -43.2 -18.8 -49.1 -15.5 -58.4 47.6 157.3 52.4 7

 8 Household sector 43.6 -65.8 -144.7 -55.8 -67.2 -57.7 -56.7 -121.8 -32.5 19.0 -17.1 8

 9 Nonfinancial corporate business -3.2 -1.6 0.6 -1.1 -8.6 -14.3 -8.5 -11.5 0.0 7.3 -0.1 9

 10 Nonfinancial noncorporate business 0.5 0.3 0.2 0.2 0.3 0.1 0.3 0.3 0.5 0.4 0.5 10

 11 State and local governments 1.4 0.2 0.4 0.1 0.4 0.7 1.0 -0.5 0.3 0.8 -0.0 11

 12 U.S.-chartered depository institutions 30.3 42.6 67.8 53.8 32.7 36.6 19.0 32.5 42.5 67.4 46.0 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Banks in U.S.-affiliated areas -0.9 0.9 -0.8 0.9 -0.9 -0.6 -2.8 -0.3 0.3 0.2 -1.0 14

 15 Credit unions 0.0 3.2 1.0 0.3 -0.8 -0.1 1.6 0.2 -4.8 0.7 1.3 15

 16 Property-casualty insurance companies -21.0 -17.4 -2.9 -1.7 -4.7 -10.4 -9.2 2.2 -1.6 -5.7 5.5 16

 17 Life insurance companies 39.2 9.4 9.7 10.1 6.2 5.1 9.6 6.8 3.3 1.3 3.5 17

 18 State and local govt. retirement funds 0.8 -0.6 0.2 1.3 1.1 -0.2 -0.0 1.4 3.1 -6.0 5.8 18

 19 Money market mutual funds -53.4 -29.4 -20.6 -28.3 -26.7 -23.3 -29.1 -10.2 -44.0 -9.6 -29.8 19

 20 Mutual funds 46.7 15.7 86.2 -13.5 43.8 17.3 48.7 51.1 57.9 64.8 34.7 20

 21 Closed-end funds 0.4 0.9 3.5 -1.6 0.5 3.6 2.5 -6.4 2.2 -0.6 -2.2 21

 22 Exchange-traded funds 1.7 1.0 3.6 -0.8 3.2 1.5 3.1 3.3 4.8 5.6 2.2 22

 23 Government-sponsored enterprises -4.2 -3.9 -4.1 -3.5 -2.6 -3.0 -2.1 -3.0 -2.4 -3.6 -3.2 23

 24 Brokers and dealers 4.6 -9.1 -4.3 -8.0 0.2 -7.1 5.3 -8.0 10.6 7.1 -6.7 24

 25 Rest of the world 13.1 0.6 -0.6 4.3 4.3 2.8 1.8 5.3 7.4 8.3 12.9 25

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.101 and L.101).
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F.213 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net issues -239.3 106.0 229.0 365.3 461.2 322.1 652.1 534.4 336.0 618.2 644.0 1

 2 Nonfinancial corporate business 179.6 161.6 323.0 279.3 265.1 286.7 234.5 200.4 338.8 448.6 621.5 2

 3 Domestic financial sectors -546.3 -237.4 -225.2 -82.9 64.6 7.7 111.9 53.3 85.5 84.0 -68.5 3

 4 U.S.-chartered depository institutions -49.2 2.4 -82.3 -74.9 -12.0 -27.2 -10.1 -11.9 1.0 -57.5 -0.3 4

 5 ABS issuers (net) (1) -373.6 -150.1 -136.0 -226.4 -57.2 -152.1 -92.3 4.5 11.0 56.8 -58.6 5

 6 Finance companies -111.7 -39.4 -81.3 4.4 19.4 -10.2 38.2 2.9 46.7 55.2 -110.9 6

 7 REITs 1.0 7.6 26.7 173.6 53.2 115.5 55.1 38.2 4.0 13.3 -2.9 7

 8 Brokers and dealers 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 113.5 8

 9 Holding companies -46.5 -91.6 14.1 6.7 27.6 48.1 87.3 -14.2 -10.9 -17.5 70.5 9

 10 Funding corporations -3.2 71.6 35.3 11.4 22.2 -7.6 71.1 -8.4 33.8 99.5 -79.9 10

 11 Rest of the world (2) 127.4 181.7 131.2 168.9 131.4 27.7 305.8 280.8 -88.4 85.6 91.1 11

 12 Net purchases (3) -239.3 106.0 229.0 365.3 461.2 322.1 652.1 534.4 336.0 618.2 644.0 12

 13 Household sector -423.8 54.7 -206.0 -350.1 -177.2 -129.1 3.6 -63.6 -519.7 -95.1 -488.6 13

 14 Federal government 0.3 -0.1 -0.2 -0.1 -0.0 -0.0 -0.1 0.0 0.0 0.0 -0.1 14

 15 State and local governments 8.2 -2.2 4.5 1.4 4.6 8.7 12.2 -5.8 3.2 10.4 -0.5 15

 16 U.S.-chartered depository institutions -98.2 2.5 -9.0 15.2 -37.4 -75.8 2.1 -82.4 6.4 2.8 -23.8 16

 17 MBS and other ABS -88.1 -24.8 -1.0 -1.3 -8.6 -23.3 4.9 -16.2 0.1 -5.4 -11.2 17

 18 Other -10.2 27.3 -8.0 16.5 -28.8 -52.4 -2.8 -66.2 6.3 8.2 -12.6 18

 19 Foreign banking offices in U.S. -9.4 -1.4 -6.2 -34.1 0.9 16.6 1.2 -7.7 -6.4 -25.9 -72.0 19

 20 Banks in U.S.-affiliated areas -1.4 3.6 1.0 0.6 -0.4 2.5 -0.6 -2.3 -1.4 0.1 -0.3 20

 21 Credit unions -15.7 -0.3 0.3 2.2 1.0 2.6 0.2 -3.0 4.3 5.1 -1.2 21

 22 MBS and other ABS -0.7 -0.3 0.7 2.1 1.0 2.6 0.3 -2.6 3.9 5.0 -1.4 22

 23 Other -15.0 -0.1 -0.4 0.1 -0.0 0.1 -0.1 -0.4 0.4 0.0 0.2 23

 24 Property-casualty insurance companies 24.3 40.4 19.6 28.1 17.0 9.5 11.0 26.0 21.3 -7.6 7.3 24

 25 MBS and other ABS 0.0 -0.6 3.2 8.3 9.3 8.9 9.2 9.4 9.7 -2.4 1.8 25

 26 Other 24.3 41.1 16.4 19.8 7.7 0.6 1.8 16.6 11.6 -5.1 5.6 26

 27 Life insurance companies 102.9 87.1 45.0 60.8 69.3 92.7 109.9 63.2 11.3 57.8 60.3 27

 28 MBS and other ABS 0.0 0.0 -24.3 9.1 15.8 15.1 15.9 16.1 16.2 6.0 4.0 28

 29 Other 102.9 87.1 69.3 51.8 53.5 77.6 94.0 47.2 -4.9 51.8 56.3 29

 30 Private pension funds 82.1 44.6 83.8 92.8 20.2 25.1 22.0 33.2 0.4 35.8 5.1 30

 31 Federal government retirement funds 0.2 1.4 1.7 -1.3 -0.4 -3.1 0.4 0.6 0.3 0.0 0.2 31

 32 State and local govt. retirement funds 8.1 23.2 15.5 68.2 55.3 30.1 29.2 91.4 70.7 -36.8 31.5 32

 33 Money market mutual funds -15.7 -49.1 -3.0 -0.0 -23.8 -52.8 -89.5 18.7 28.6 -43.0 -1.1 33

 34 Mutual funds 122.3 170.3 306.0 279.3 318.9 274.9 453.3 240.3 307.1 359.0 453.0 34

 35 Closed-end funds 4.1 -2.3 7.5 14.6 -4.0 -2.8 -0.1 -3.8 -9.5 -0.7 8.2 35

 36 Exchange-traded funds 18.7 33.6 47.6 19.5 34.8 33.6 30.2 15.8 59.7 59.4 3.2 36

 37 Government-sponsored enterprises -29.6 -30.8 -50.0 -59.4 -30.8 -24.8 -42.9 -31.8 -24.0 -38.6 -33.3 37

 38 MBS and other ABS -46.5 -32.2 -31.2 -58.8 -30.2 -24.3 -42.0 -31.1 -23.2 -37.8 -32.5 38

 39 Other 17.0 1.4 -18.8 -0.6 -0.7 -0.5 -0.8 -0.7 -0.8 -0.8 -0.8 39

 40 Finance companies -19.8 0.9 -6.3 -10.8 6.0 15.6 2.5 -10.1 16.0 8.5 14.2 40

 41 REITs 7.2 3.8 9.5 -0.2 3.3 6.0 -2.7 3.7 6.4 23.0 -1.7 41

 42 Brokers and dealers 35.2 -85.0 35.5 -11.1 -13.5 -3.3 28.3 -4.5 -74.4 -3.7 -13.5 42

 43 Holding companies 7.3 -20.1 -11.9 37.0 2.6 -6.9 5.4 25.7 -13.8 -19.8 12.8 43

 44 Funding corporations -9.8 -57.3 -36.2 8.9 4.7 48.4 -19.2 -4.5 -5.9 13.9 -20.9 44

 45 Rest of the world (4) -36.8 -111.5 -19.7 203.9 210.1 54.3 95.7 235.2 455.3 313.4 705.2 45

 46 MBS and other ABS -45.5 -44.8 -36.1 -22.5 -7.8 -7.1 -5.6 -31.6 13.3 -6.4 16.5 46

 47 Other 8.8 -66.7 16.4 226.4 217.9 61.4 101.4 266.8 442.0 319.8 688.8 47

(1) Net issuance less net acquisition of corporate bonds held as assets.

(2) Net purchases of foreign issues by U.S. residents.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
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58 Z.1, September 18, 2015

F.214 Loans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 By instrument

 1 Total loans -555.7 94.4 368.8 721.7 1008.7 893.2 1080.2 1118.1 943.3 745.9 1064.0 1

 2 Depository institution loans n.e.c. -86.0 177.6 176.9 196.5 320.0 347.7 319.7 229.1 383.5 437.6 294.7 2

 3 Other loans and advances -128.1 -33.6 93.3 235.3 254.4 298.0 301.8 426.9 -8.8 -62.8 28.2 3

 4 Mortgages -316.2 -158.2 -70.8 113.9 221.2 70.6 202.2 242.9 369.2 196.6 470.4 4

 5 Home -161.8 -91.9 -81.1 2.3 52.2 -14.8 53.5 57.6 112.5 4.4 225.7 5

 6 Multifamily residential -4.4 4.1 33.7 37.6 64.6 37.3 49.5 70.4 101.3 82.5 99.6 6

 7 Commercial -158.1 -83.5 -29.5 63.5 89.3 33.2 84.2 99.6 140.1 99.4 134.6 7

 8 Farm 8.1 13.1 6.1 10.5 15.1 14.9 15.1 15.2 15.2 10.4 10.5 8

 9 Consumer credit -25.3 108.6 169.4 175.9 213.1 177.0 256.6 219.3 199.5 174.4 270.7 9

 By sector

 10 Total liabilities -555.7 94.4 368.8 721.7 1008.7 893.2 1080.2 1118.1 943.3 745.9 1064.0 10

 11 Domestic nonfinancial sectors -403.3 31.9 412.9 505.4 822.8 563.8 1000.6 913.7 812.9 665.2 962.0 11

 12 Household sector -76.7 -63.2 275.4 253.2 418.2 237.9 698.5 429.1 307.4 240.9 561.1 12

 13 Nonfinancial corporate business -308.0 91.0 11.8 129.5 186.2 253.4 65.8 288.0 137.5 197.1 66.5 13

 14 Nonfinancial noncorporate business -19.4 3.2 125.2 122.1 217.9 72.3 235.8 196.3 367.6 226.9 334.2 14

 15 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 State and local governments 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 0.1 16

 17 Domestic financial sectors -176.6 17.9 -80.1 175.9 154.5 274.0 18.5 234.4 91.2 36.1 59.5 17

 18 U.S.-chartered depository institutions -148.3 -60.5 4.6 69.2 52.3 23.8 110.1 48.4 26.8 -34.9 79.6 18

 19 Credit unions -0.4 -2.0 0.9 1.9 8.4 1.7 10.2 12.7 9.0 -2.0 20.1 19

 20 Life insurance companies -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 17.9 20

 21 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Finance companies -64.9 15.9 16.4 10.1 10.5 2.2 -20.5 20.0 40.3 28.5 23.7 22

 23 REITs -0.9 18.1 8.8 4.8 21.8 24.6 -5.7 19.2 49.1 32.3 36.5 23

 24 Brokers and dealers 29.8 31.9 32.8 68.9 65.4 221.8 6.3 113.4 -79.7 7.7 -101.6 24

 25 Holding companies 26.1 64.0 -120.2 13.8 -16.3 -7.7 -89.9 6.9 25.4 -9.9 -16.6 25

 26 Funding corporations -14.8 -51.2 -28.3 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Rest of the world 24.3 44.6 36.0 40.5 31.4 55.5 61.1 -30.0 39.1 44.5 42.5 27

 28 Total assets -555.7 94.4 368.8 721.7 1008.7 893.2 1080.2 1118.1 943.3 745.9 1064.0 28

 29 Domestic nonfinancial sectors 147.1 127.0 153.6 176.9 172.6 349.5 120.6 210.5 9.7 126.6 2.0 29

 30 Household sector 1.6 -5.0 12.8 51.2 54.1 224.0 -18.3 102.1 -91.4 1.4 -118.6 30

 31 Nonfinancial corporate business -4.1 1.4 -0.4 -2.4 0.5 5.3 8.5 1.1 -12.9 1.8 20.3 31

 32 Nonfinancial noncorporate business 4.2 -5.8 -2.4 1.0 1.7 0.6 1.9 1.5 2.9 2.0 2.7 32

 33 Federal government 131.4 136.5 136.2 124.2 110.0 108.2 112.8 112.4 106.5 107.2 97.6 33

 34 State and local governments 14.0 -0.1 7.5 2.9 6.3 11.4 15.8 -6.6 4.6 14.2 -0.0 34

 35 Domestic financial sectors -682.5 -66.5 267.4 549.1 786.0 487.5 958.6 790.3 907.7 644.2 1052.3 35

 36 Monetary authority -44.8 -67.6 -29.9 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 0.0 0.0 36

 37 U.S.-chartered depository institutions -252.7 77.5 258.5 170.7 439.2 472.6 538.1 319.4 426.8 604.0 505.2 37

 38 Foreign banking offices in U.S. -10.7 59.1 -12.9 45.7 74.7 67.1 54.7 40.9 136.0 105.7 75.2 38

 39 Banks in U.S.-affiliated areas -9.8 -1.4 2.5 -1.2 -4.3 -2.4 -5.2 -6.2 -3.6 -16.1 -3.4 39

 40 Credit unions -6.2 7.6 29.1 45.6 69.2 58.2 73.1 74.0 71.4 71.6 84.9 40

 41 Property-casualty insurance companies -0.3 0.8 0.7 2.3 2.0 1.3 2.1 2.3 2.4 1.9 2.0 41

 42 Life insurance companies -8.8 22.9 13.7 22.3 29.5 24.4 23.3 30.3 40.2 31.7 30.1 42

 43 Private pension funds 2.8 -4.6 1.2 -0.7 0.2 -2.2 3.2 2.7 -3.1 -2.3 -3.1 43

 44 State and local govt. retirement funds -0.3 -0.6 -1.0 -0.5 -0.3 0.5 0.4 -1.8 -0.1 -9.5 1.5 44

 45 Mutual funds -0.8 18.9 12.2 39.4 9.4 60.3 -14.6 9.8 -17.6 23.5 -24.1 45

 46 Government-sponsored enterprises -215.7 -124.7 -52.8 154.4 88.5 -89.2 123.5 151.4 168.3 -79.6 281.9 46

 47 Agency- and GSE-backed mortgage pools 186.9 165.3 132.2 132.4 75.3 81.7 51.3 72.0 96.3 5.3 122.7 47

 48 ABS issuers -294.4 -155.8 -132.8 -228.8 -65.6 -166.7 -73.2 9.0 -31.3 20.8 -25.1 48

 49 Finance companies -91.7 -45.3 -22.3 -8.2 6.4 -27.3 9.8 2.6 40.6 3.7 -7.9 49

 50 REITs -1.3 11.7 8.6 135.0 32.7 94.0 -6.1 16.6 26.1 -20.1 4.5 50

 51 Brokers and dealers 62.5 -32.4 50.1 46.3 38.5 -77.1 219.0 67.7 -55.6 -84.8 34.5 51

 52 Holding companies 4.3 4.0 16.7 -2.8 -10.9 -10.7 -35.6 -1.1 3.9 -9.9 -28.9 52

 53 Funding corporations -1.5 -2.0 -6.5 -2.3 1.5 3.0 -5.1 1.0 7.1 -1.9 2.1 53

 54 Rest of the world -20.2 33.9 -52.2 -4.2 50.1 56.2 1.0 117.3 25.8 -25.0 9.8 54

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
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F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities -86.0 177.6 176.9 196.5 320.0 347.7 319.7 229.1 383.5 437.6 294.7 1

 2 Household sector 50.1 -54.9 110.8 30.0 120.2 153.3 166.7 93.0 67.9 119.3 29.9 2

 3 Corporate business -87.0 92.1 108.0 50.1 85.9 91.7 106.9 94.5 50.3 117.7 68.3 3

 4 Noncorporate business -16.8 33.5 58.1 45.9 71.1 22.2 107.6 21.7 133.0 124.7 114.8 4

 5 Domestic financial sectors -56.2 63.6 -130.4 31.4 14.2 25.5 -117.9 50.5 98.7 35.0 37.7 5

 6 Finance companies -64.9 15.9 16.4 10.1 10.5 2.2 -20.5 20.0 40.3 28.5 23.7 6

 7 REITs -1.8 4.6 4.0 -2.9 8.0 12.0 -12.2 13.7 18.7 15.0 24.5 7

 8 Brokers and dealers 6.2 31.0 -9.2 10.4 12.0 19.0 4.7 9.8 14.3 1.4 6.0 8

 9 Holding companies 26.1 64.0 -120.2 13.8 -16.3 -7.7 -89.9 6.9 25.4 -9.9 -16.6 9

 10 Funding corporations -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world 24.0 43.2 30.4 39.1 28.6 54.9 56.4 -30.6 33.7 41.0 44.0 11

 12 Foreign official institutions 2.1 -1.2 0.8 1.0 1.1 -2.7 4.1 -0.4 3.3 4.0 -2.8 12

 13 Foreign banks 15.6 16.8 0.6 20.0 -0.7 6.2 26.6 -37.6 2.0 6.2 -0.4 13

 14 Other foreign 6.3 27.6 29.1 18.1 28.2 51.5 25.7 7.3 28.3 30.7 47.2 14

 15 Net change in assets -86.0 177.6 176.9 196.5 320.0 347.7 319.7 229.1 383.5 437.6 294.7 15

 16 Monetary authority (2) -44.8 -67.6 -29.9 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 0.0 0.0 16

 17 U.S.-chartered depository institutions -33.2 175.8 216.8 144.3 249.8 287.3 274.3 185.0 252.6 328.8 225.7 17

 18 Foreign banking offices in U.S. -8.2 61.7 -11.0 46.3 67.4 59.3 46.9 35.8 127.7 106.3 61.0 18

 19 Banks in U.S.-affiliated areas -3.3 1.1 1.0 1.3 -2.3 -0.6 -4.4 -2.8 -1.3 -5.7 -0.5 19

 20 Credit unions 3.5 6.6 0.1 5.1 5.1 1.7 3.0 11.3 4.5 8.3 8.5 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on the Monetary Authority sector table (F.109).
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F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total other loans and advances -128.1 -33.6 93.3 235.3 254.4 298.0 301.8 426.9 -8.8 -62.8 28.2 1

 2 U.S. government loans 3.7 4.8 2.5 7.2 2.6 7.1 3.7 0.3 -0.9 3.5 7.4 2

 3 Liab.: Household sector -1.0 -0.5 -0.1 1.1 1.2 -0.9 5.1 -1.4 2.0 0.9 2.7 3

 4 Nonfinancial corporate business -4.3 -0.5 5.3 0.9 -1.5 5.3 -9.4 -0.6 -1.1 -1.4 6.9 4

 5 Nonfinancial noncorporate business 0.6 2.9 0.6 2.0 -1.2 -2.1 2.4 -0.2 -4.9 -0.7 -3.0 5

 6 State and local governments 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 0.1 6

 7 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 7.2 0.7 -6.8 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 0.3 1.4 3.2 3.4 3.6 4.6 5.1 2.2 2.7 4.3 0.7 10

 11 Foreign loans to U.S. corporate business -20.2 33.9 -52.2 -4.2 50.1 56.2 1.0 117.3 25.8 -25.0 9.8 11

 12 Liab.: Nonfinancial corporate business -20.2 33.9 -52.2 -4.2 50.1 56.2 1.0 117.3 25.8 -25.0 9.8 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans 4.3 4.0 16.7 -2.8 -10.9 -10.7 -35.6 -1.1 3.9 -9.9 -28.9 17

 18 Liab.: Nonfinancial corporate business 4.3 4.0 14.3 -0.7 -10.1 -6.6 -35.3 0.4 1.1 -9.1 -26.7 18

 19 Rest of the world 0.0 0.0 2.4 -2.0 -0.8 -4.0 -0.4 -1.6 2.8 -0.8 -2.2 19

 20 Policy loans (Household liability) 3.4 2.4 1.4 0.9 1.7 -0.2 1.2 3.1 2.5 1.0 1.7 20

 21 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

 22 Life insurance companies 3.4 2.5 1.4 1.0 1.7 -0.2 1.3 3.1 2.6 1.0 1.7 22

 23 Govt.-sponsored enterprises loans (1) -144.7 -64.2 18.6 81.9 84.3 29.7 140.4 88.4 78.7 -45.1 140.2 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) 1.6 -0.9 0.8 0.2 1.6 4.2 0.7 0.1 1.2 -0.5 2.3 25

 26 Nonfinancial noncorporate business (FCS) 5.7 -2.6 7.5 2.7 9.6 -7.6 11.4 13.4 21.4 -22.2 20.3 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) -148.3 -60.5 4.6 69.2 52.3 23.8 110.1 48.4 26.8 -34.9 79.6 27

 28 Credit unions (FHLB) -0.4 -2.0 0.9 1.9 8.4 1.7 10.2 12.7 9.0 -2.0 20.1 28

 29 Life insurance companies (FHLB) -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 17.9 29

 30 Securitized loans held by ABS issuers -4.9 -3.9 1.7 0.2 -1.9 -0.4 -2.6 -4.7 0.0 0.0 0.0 30

 31 Liab.: Nonfinancial corporate business -4.9 -3.9 1.7 0.2 -1.9 -0.4 -2.6 -4.7 0.0 0.0 0.0 31

 32 Finance company loans to business -15.2 3.0 11.2 14.4 10.1 -2.3 20.4 6.5 16.0 18.1 19.1 32

 33 Liab.: Nonfinancial corporate business -13.7 2.7 10.1 12.9 9.1 -2.1 18.3 5.8 14.4 16.3 17.2 33

 34 Nonfinancial noncorporate business -1.5 0.3 1.1 1.4 1.0 -0.2 2.0 0.6 1.6 1.8 1.9 34

 35 Margin accounts at brokers and dealers 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 40.2 35

 36 Liab.: Household sector 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 40.2 36

 37 Cash accounts at brokers and dealers 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 -107.7 37

 38 Asset: Household sector 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 -107.7 38

 39 Loans to nonfinancial corporate business (2) -53.3 24.9 -13.5 43.9 34.7 90.1 -47.5 54.3 42.0 49.1 -53.5 39

 40 Asset: Household sector -0.6 -2.8 -2.5 5.0 -1.6 3.0 -17.7 3.2 5.0 3.5 -3.6 40

 41 Life insurance companies -3.7 5.4 0.4 2.6 6.3 8.2 4.2 7.3 5.3 2.7 -8.0 41

 42 Mutual funds -0.8 18.9 12.2 39.4 9.4 60.3 -14.6 9.8 -17.6 23.5 -24.1 42

 43 ABS issuers -34.0 -1.5 -2.3 -11.7 11.0 18.4 -13.9 24.7 14.9 45.2 -14.3 43

 44 Brokers and dealers -12.7 6.9 -14.8 10.9 8.2 -2.7 -0.3 8.4 27.3 -24.0 -5.6 44

 45 Funding corporations -1.5 -2.0 -6.5 -2.3 1.5 3.0 -5.1 1.0 7.1 -1.9 2.1 45

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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F.217 Total Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in mortgages -316.2 -158.2 -70.8 113.9 221.2 70.6 202.2 242.9 369.2 196.6 470.4 1

 2 Home -161.8 -91.9 -81.1 2.3 52.2 -14.8 53.5 57.6 112.5 4.4 225.7 2

 3 Multifamily residential -4.4 4.1 33.7 37.6 64.6 37.3 49.5 70.4 101.3 82.5 99.6 3

 4 Commercial -158.1 -83.5 -29.5 63.5 89.3 33.2 84.2 99.6 140.1 99.4 134.6 4

 5 Farm 8.1 13.1 6.1 10.5 15.1 14.9 15.1 15.2 15.2 10.4 10.5 5

 6 Net borrowing -316.2 -158.2 -70.8 113.9 221.2 70.6 202.2 242.9 369.2 196.6 470.4 6

 7 Household sector -179.1 -79.5 -71.0 9.7 51.7 -16.9 49.7 55.8 118.4 6.1 216.0 7

 8 Nonfinancial business -137.9 -92.2 -4.7 96.4 155.7 74.9 146.0 181.7 220.3 173.2 242.5 8

 9 Corporate -130.6 -61.3 -62.7 26.3 18.3 14.8 33.7 20.9 3.8 49.9 42.3 9

 10 Noncorporate -7.3 -30.9 58.0 70.1 137.4 60.0 112.4 160.7 216.5 123.3 200.2 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.3 11.9 12

 13 Net change in assets -316.2 -158.2 -70.8 113.9 221.2 70.6 202.2 242.9 369.2 196.6 470.4 13

 14 Household sector -10.9 0.9 -17.9 -6.0 8.0 23.1 2.3 2.6 4.0 -1.7 -0.3 14

 15 Nonfinancial corporate business -1.6 -0.6 -1.9 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 15

 16 Nonfinancial noncorporate business 4.2 -5.8 -2.4 1.0 1.7 0.6 1.9 1.5 2.9 2.0 2.7 16

 17 Federal government -5.4 3.3 1.6 4.0 1.7 1.9 2.3 2.9 -0.3 3.5 -0.5 17

 18 State and local governments 14.0 -0.1 7.5 2.9 6.3 11.4 15.8 -6.6 4.6 14.2 -0.0 18

 19 U.S.-chartered depository institutions -149.2 -105.3 13.7 -26.6 117.9 127.0 167.2 60.6 116.6 231.4 190.1 19

 20 Foreign banking offices in U.S. -2.5 -2.6 -1.9 -0.6 7.3 7.8 7.8 5.1 8.3 -0.6 14.2 20

 21 Banks in U.S.-affiliated areas -6.5 -2.4 1.5 -2.5 -2.1 -1.8 -0.8 -3.3 -2.3 -10.4 -2.9 21

 22 Credit unions 0.9 4.5 8.3 18.6 26.9 24.3 26.0 31.5 25.5 25.9 29.0 22

 23 Property-casualty insurance companies -0.3 0.8 0.7 2.3 2.0 1.3 2.1 2.3 2.4 1.9 2.0 23

 24 Life insurance companies -8.6 15.0 11.9 18.8 21.6 16.4 17.8 19.9 32.3 27.9 36.3 24

 25 Private pension funds 2.8 -4.6 1.2 -0.7 0.2 -2.2 3.2 2.7 -3.1 -2.3 -3.1 25

 26 State and local govt. retirement funds -0.3 -0.6 -1.0 -0.5 -0.3 0.5 0.4 -1.8 -0.1 -9.5 1.5 26

 27 Government-sponsored enterprises (1) -71.0 -60.5 -71.4 72.5 4.3 -118.9 -16.8 63.1 89.7 -34.5 141.7 27

 28 Agency- and GSE-backed mortgage pools 186.9 165.3 132.2 132.4 75.3 81.7 51.3 72.0 96.3 5.3 122.7 28

 29 ABS issuers -213.3 -146.2 -136.0 -216.4 -75.3 -180.5 -57.5 -17.9 -45.2 -20.3 -26.4 29

 30 Finance companies -54.2 -30.9 -25.7 -21.9 -8.7 -17.8 -16.5 -10.1 9.7 -18.1 -43.0 30

 31 REITs -1.3 11.7 8.6 135.0 32.7 94.0 -6.1 16.6 26.1 -20.1 4.5 31

(1) Sum of home mortgages, multifamily residential mortgages, commercial mortgages, and farm mortgages.
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F.218 Home Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net borrowing -161.8 -91.9 -81.1 2.3 52.2 -14.8 53.5 57.6 112.5 4.4 225.7 1

 2 Household sector -182.2 -73.1 -68.7 4.8 44.5 -18.3 43.7 46.9 105.5 0.2 206.1 2

 3 Nonfinancial corporate business -6.8 -3.4 -0.5 0.3 1.5 1.7 2.0 1.5 0.8 2.0 2.0 3

 4 Nonfinancial noncorporate business 27.1 -15.4 -11.9 -2.8 6.2 1.8 7.7 9.2 6.2 2.3 17.6 4

 5 Net change in assets -161.8 -91.9 -81.1 2.3 52.2 -14.8 53.5 57.6 112.5 4.4 225.7 5

 6 Household sector -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 6

 7 Nonfinancial corporate business -0.9 -0.3 -2.0 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.2 7

 8 Nonfinancial noncorporate business 1.5 -2.1 -0.9 0.4 0.6 0.2 0.7 0.5 1.1 0.8 1.0 8

 9 Federal government -1.8 0.2 1.1 0.4 1.2 1.0 -0.9 1.0 3.6 3.5 1.8 9

 10 State and local governments 8.7 1.0 4.8 2.0 3.6 6.2 8.5 -3.1 2.7 7.9 0.3 10

 11 U.S.-chartered depository institutions -48.9 -37.6 0.0 -98.8 26.3 82.0 63.1 -22.3 -17.6 123.3 64.3 11

 12 Foreign banking offices in U.S. 0.1 0.3 0.5 -0.4 1.5 1.0 1.2 2.1 1.6 -0.5 0.2 12

 13 Banks in U.S.-affiliated areas -2.5 -2.4 2.3 -1.1 -1.5 -2.2 -0.3 -2.7 -1.0 -3.6 -0.8 13

 14 Credit unions 0.9 4.5 8.3 18.6 26.9 24.3 26.0 31.5 25.5 25.9 29.0 14

 15 Life insurance companies 0.3 -0.1 2.0 0.5 2.3 -1.9 2.8 3.6 4.7 -1.3 2.4 15

 16 Private pension funds -0.1 -0.3 -0.1 -0.2 0.0 -0.1 0.2 0.3 -0.4 -0.2 -0.7 16

 17 State and local govt. retirement funds -0.1 -0.2 -0.4 -0.2 -0.1 0.2 0.1 -0.7 -0.0 -3.4 0.5 17

 18 Government-sponsored enterprises -76.4 -66.5 -82.9 89.5 2.5 -110.9 -0.8 52.1 69.7 -63.1 116.7 18

 19 Agency- and GSE-backed mortgage pools 175.8 148.0 105.0 98.8 51.1 62.1 29.1 49.6 63.6 -8.9 87.2 19

 20 ABS issuers -160.8 -120.9 -106.7 -81.8 -61.4 -62.1 -69.9 -64.6 -48.9 -49.2 -82.7 20

 21 Finance companies -49.8 -18.4 -11.1 -17.3 -9.8 -19.0 -8.4 -13.7 1.9 -19.1 -17.9 21

 22 REITs 0.2 11.0 6.9 -3.3 13.9 9.1 6.8 28.7 10.8 -2.8 29.1 22

 Memo:

 23 Charge-offs (2) 186.2 154.1 142.2 92.4 52.7 14.7 13.5 12.1 12.4 17.9 11.1 23

 24 Home equity loans included above (3) -52.8 -53.9 -62.7 -55.9 -24.9 -42.4 -20.9 -15.0 -21.2 -44.9 -24.6 24

 25 U.S.-chartered depository institutions -31.8 -41.1 -51.7 -46.9 -22.9 -36.0 -18.4 -17.5 -19.6 -38.7 -26.3 25

 26 Foreign banking offices in U.S. 0.0 -0.0 -0.0 0.1 0.1 0.0 0.0 -0.1 0.3 -0.0 -0.0 26

 27 Credit unions -6.4 -6.0 -6.5 -3.7 1.7 -2.2 1.2 6.3 1.3 -1.7 6.9 27

 28 ABS issuers -5.4 -2.7 -2.0 -1.9 -1.7 -1.6 -1.8 -1.8 -1.5 -1.7 -1.6 28

 29 Finance companies -9.3 -4.0 -2.4 -3.6 -2.0 -2.6 -2.0 -1.9 -1.6 -2.8 -3.7 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from the flow (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing -4.4 4.1 33.7 37.6 64.6 37.3 49.5 70.4 101.3 82.5 99.6 1

 2 Nonfinancial corporate business -0.2 0.2 1.7 1.7 3.2 2.0 2.4 3.6 4.8 4.0 5.1 2

 3 Nonfinancial noncorporate business -4.6 3.8 33.1 32.6 60.4 37.1 45.0 67.5 92.1 75.3 96.5 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 0.4 0.1 -1.1 3.3 1.0 -1.8 2.1 -0.6 4.4 3.2 -1.9 5

 6 Net change in assets -4.4 4.1 33.7 37.6 64.6 37.3 49.5 70.4 101.3 82.5 99.6 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 8

 9 Nonfinancial noncorporate business 1.5 -2.0 -0.8 0.3 0.6 0.2 0.6 0.5 1.0 0.7 0.9 9

 10 Federal government -0.3 -0.3 -0.3 0.0 -0.6 -0.2 -0.4 -1.0 -0.8 -0.3 -0.3 10

 11 State and local governments 4.4 -0.9 2.2 0.7 2.3 4.3 6.0 -2.9 1.6 5.2 -0.2 11

 12 U.S.-chartered depository institutions -12.2 -6.6 10.2 29.4 38.0 37.7 41.8 34.4 38.1 35.9 44.0 12

 13 Foreign banking offices in U.S. -0.5 -0.6 -1.5 -0.4 0.2 -0.5 0.0 0.2 1.0 0.6 0.8 13

 14 Life insurance companies -1.3 2.1 1.7 2.5 2.8 0.7 2.4 2.9 5.1 2.9 5.0 14

 15 Private pension funds 0.4 -0.3 -0.3 -0.3 -0.0 -0.4 0.4 0.4 -0.6 -0.3 -1.1 15

 16 State and local govt. retirement funds -0.1 -0.2 -0.3 -0.2 -0.1 0.1 0.1 -0.6 -0.0 -2.8 0.5 16

 17 Government-sponsored enterprises 2.0 2.8 6.2 -21.9 -2.7 -18.5 -18.4 8.6 17.3 25.4 22.6 17

 18 Agency- and GSE-backed mortgage pools 11.3 19.4 27.0 33.7 24.3 19.7 22.3 22.5 32.8 14.4 35.5 18

 19 ABS issuers -8.6 -7.7 -9.6 -5.9 -1.9 -5.1 -5.7 1.4 1.8 0.3 -6.6 19

 20 Finance companies -0.7 -1.5 -0.8 -0.8 0.1 0.1 0.2 -0.3 0.3 0.0 -3.1 20

 21 REITs -0.3 -0.2 0.1 0.5 1.8 -0.8 0.2 4.3 3.6 0.5 1.6 21
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F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net borrowing -158.1 -83.5 -29.5 63.5 89.3 33.2 84.2 99.6 140.1 99.4 134.6 1

 2 Household sector 3.0 -6.3 -2.3 5.0 7.3 1.4 6.0 8.9 12.9 6.0 9.9 2

 3 Nonfinancial corporate business -126.6 -62.6 -66.9 20.6 8.8 5.8 24.1 11.3 -5.9 40.5 31.8 3

 4 Nonfinancial noncorporate business -34.9 -27.9 33.7 33.6 60.4 11.7 49.7 73.4 107.0 38.8 79.2 4

 5 REITs 0.4 13.3 6.0 4.5 12.7 14.4 4.4 6.1 26.1 14.1 13.8 5

 6 Net change in assets -158.1 -83.5 -29.5 63.5 89.3 33.2 84.2 99.6 140.1 99.4 134.6 6

 7 Household sector -1.1 -0.6 -0.3 0.4 1.4 1.2 1.2 1.5 1.7 1.9 2.1 7

 8 Nonfinancial corporate business -0.6 -0.2 0.1 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 8

 9 Nonfinancial noncorporate business 1.1 -1.6 -0.7 0.3 0.5 0.2 0.5 0.4 0.8 0.6 0.7 9

 10 Federal government -3.7 3.2 0.8 3.9 0.2 0.8 2.7 0.9 -3.6 -0.4 -2.7 10

 11 State and local governments 0.9 -0.2 0.4 0.1 0.5 0.9 1.2 -0.6 0.3 1.0 -0.1 11

 12 U.S.-chartered depository institutions -95.1 -62.9 -8.1 38.8 60.1 38.2 60.7 46.9 94.5 70.3 80.1 12

 13 Foreign banking offices in U.S. -2.1 -2.3 -0.9 0.2 5.5 7.2 5.9 2.9 5.7 -0.8 13.3 13

 14 Banks in U.S.-affiliated areas -4.0 -0.1 -0.8 -1.4 -0.5 0.4 -0.5 -0.6 -1.3 -6.7 -2.1 14

 15 Property-casualty insurance companies -0.3 0.8 0.7 2.3 2.0 1.3 2.1 2.3 2.4 1.9 2.0 15

 16 Life insurance companies -6.8 12.3 9.8 15.4 14.9 12.4 12.2 13.0 22.1 26.0 28.5 16

 17 Private pension funds 2.5 -4.0 1.6 -0.1 0.2 -1.7 2.6 2.0 -2.1 -1.7 -1.2 17

 18 State and local govt. retirement funds -0.1 -0.2 -0.3 -0.2 -0.1 0.2 0.1 -0.6 -0.0 -3.2 0.5 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers -43.9 -17.6 -19.7 -128.7 -12.0 -113.4 18.1 45.4 1.9 28.6 62.9 20

 21 Finance companies -3.7 -11.0 -13.8 -3.8 1.1 1.2 -8.2 4.0 7.5 1.0 -22.0 21

 22 REITs -1.2 0.9 1.5 137.7 17.0 85.8 -13.1 -16.5 11.6 -17.7 -26.3 22

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 8.1 13.1 6.1 10.5 15.1 14.9 15.1 15.2 15.2 10.4 10.5 1

 2 Nonfinancial corporate business 3.1 4.5 3.0 3.8 4.8 5.5 5.1 4.6 4.0 3.5 3.4 2

 3 Nonfinancial noncorporate business 5.0 8.6 3.1 6.7 10.3 9.4 9.9 10.7 11.2 6.9 7.0 3

 4 Net change in assets 8.1 13.1 6.1 10.5 15.1 14.9 15.1 15.2 15.2 10.4 10.5 4

 5 Household sector -1.7 9.5 -9.6 1.6 14.6 29.9 9.1 9.1 10.4 4.3 5.6 5

 6 Nonfinancial noncorporate business 0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 6

 7 Federal government 0.4 0.3 0.1 -0.3 0.9 0.3 1.0 2.1 0.5 0.7 0.7 7

 8 State and local governments 0.1 -0.0 0.0 0.0 0.0 0.1 0.1 -0.0 0.0 0.1 -0.0 8

 9 U.S.-chartered depository institutions 7.0 1.7 11.6 4.0 -6.5 -30.9 1.6 1.6 1.6 1.8 1.7 9

 10 Foreign banking offices in U.S. 0.0 -0.0 0.0 -0.0 0.2 0.0 0.7 -0.1 -0.0 0.0 -0.1 10

 11 Life insurance companies -0.9 0.6 -1.5 0.4 1.5 5.1 0.4 0.3 0.3 0.4 0.4 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 3.4 3.3 5.3 5.0 4.4 10.5 2.4 2.3 2.6 3.2 2.3 13

 14 Agency- and GSE-backed mortgage pools -0.2 -2.1 0.3 -0.2 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.1 14

(1) Excludes mortgages on farm houses.
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F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities (Households) -25.3 108.6 169.4 175.9 213.1 177.0 256.6 219.3 199.5 174.4 270.7 1

 2 Net change in assets -25.3 108.6 169.4 175.9 213.1 177.0 256.6 219.3 199.5 174.4 270.7 2

 3 Households (nonprofit organizations) (1) -10.4 -3.9 -8.8 -6.3 -5.7 -4.9 -4.4 -7.3 -6.4 -6.7 -7.1 3

 4 Nonfinancial corporate business -2.5 2.0 1.5 -4.2 -1.3 3.5 6.7 -0.7 -14.7 -0.1 18.5 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 133.1 128.5 132.1 113.1 105.7 99.2 106.7 109.3 107.7 100.3 90.7 6

 7 U.S.-chartered depository institutions -70.3 7.1 28.1 52.9 71.5 58.3 96.6 73.7 57.6 43.9 89.5 7

 8 Credit unions -10.7 -3.4 20.6 21.9 37.2 32.1 44.2 31.2 41.4 37.4 47.5 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers -42.3 -4.1 3.8 -0.8 0.6 -4.1 0.9 6.8 -1.0 -4.1 15.7 10

 11 Finance companies -22.2 -17.4 -7.8 -0.6 5.0 -7.2 5.9 6.2 14.9 3.7 16.0 11

 Memo:

 12 Credit card loans (3) -69.9 1.8 4.7 12.3 31.8 11.0 59.4 30.6 26.2 3.4 77.9 12

 13 Auto loans -40.6 17.1 60.0 69.6 79.0 72.5 84.4 77.5 81.5 76.1 82.4 13

 14 Student loans (4) 83.9 99.1 107.7 90.7 73.7 56.7 83.7 82.4 72.1 55.0 58.9 14

 15 Other consumer credit (5) 1.2 -9.5 -2.9 3.3 28.6 36.7 29.1 28.8 19.7 40.0 51.6 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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F.223 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net issues 19.9 -283.6 -80.8 93.9 268.5 -133.4 388.5 269.0 550.0 382.3 34.3 1

 2 Nonfinancial corporate business -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -592.0 -591.0 2

 3 Domestic financial sectors 191.4 164.1 168.4 162.5 219.5 37.1 298.9 177.0 365.1 299.3 158.5 3

 4 U.S.-chartered depository institutions 11.9 6.4 1.6 2.2 2.7 2.5 4.3 2.8 1.2 24.0 2.2 4

 5 Property-casualty insurance companies -12.7 -10.7 -14.5 -7.6 -16.9 -17.9 -9.4 -22.2 -17.9 -19.4 -19.7 5

 6 Life insurance companies -4.8 -11.5 -9.9 -9.2 -14.9 -14.3 -11.8 -17.6 -16.0 -22.5 -3.7 6

 7 Closed-end funds 0.5 -2.9 2.7 -2.6 -10.7 6.4 9.2 -10.0 -48.2 -11.6 -7.0 7

 8 Exchange-traded funds 118.0 117.6 185.2 179.0 239.2 57.3 229.6 192.8 477.0 220.5 164.2 8

 9 REITs 28.2 37.5 47.6 46.2 32.7 18.9 46.9 30.4 34.7 53.9 33.1 9

 10 Government-sponsored enterprises 38.1 29.2 14.5 2.4 -0.5 -5.9 0.0 2.8 1.0 -5.0 -2.8 10

 11 Brokers and dealers -11.1 14.1 -50.7 -31.0 -11.7 -7.1 -0.1 -0.5 -39.1 10.4 -10.0 11

 12 Holding companies 19.8 2.9 0.6 -17.1 -0.3 -2.7 30.3 -1.3 -27.6 48.9 2.0 12

 13 Funding corporations (2) 3.5 -18.4 -8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Rest of the world (3) 79.2 7.0 95.8 284.3 436.5 331.3 362.7 526.3 525.9 674.9 466.8 14

 15 Net purchases 19.9 -283.6 -80.8 93.9 268.5 -133.4 388.5 269.0 550.0 382.3 34.3 15

 16 Household sector -190.3 -279.5 -202.7 160.8 54.4 -396.6 405.1 -204.0 413.0 -13.7 -272.7 16

 17 Federal government 24.1 40.3 -13.2 -4.8 -1.6 -0.6 -1.1 -4.2 -0.7 -0.4 0.6 17

 18 State and local governments 0.2 -3.4 2.4 0.8 2.4 4.6 6.5 -3.1 1.7 5.6 -0.3 18

 19 Monetary authority 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 U.S.-chartered depository institutions -1.8 1.0 -10.5 0.8 0.7 -2.5 -0.7 1.6 4.3 -1.7 2.2 20

 21 Foreign banking offices in U.S. 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Property-casualty insurance companies -20.9 2.9 4.6 3.7 2.6 2.4 -12.6 3.7 16.8 -2.4 -5.2 22

 23 Life insurance companies 12.7 33.2 16.1 13.7 28.1 29.7 70.7 2.5 9.4 44.1 45.1 23

 24 Private pension funds 22.7 -72.6 -19.0 -194.9 -95.3 -39.9 -141.7 -83.2 -116.3 -15.9 -39.7 24

 25 Federal government retirement funds 5.4 -4.2 -4.1 9.1 4.0 7.2 -0.3 5.5 3.7 5.7 -3.8 25

 26 State and local govt. retirement funds -72.1 -62.8 -77.2 -168.4 -94.8 -186.7 -172.5 -6.3 -13.6 140.4 -10.2 26

 27 Mutual funds 44.3 4.9 -38.1 162.5 76.3 146.7 75.0 114.6 -31.1 86.2 149.8 27

 28 Closed-end funds -4.7 -1.2 -8.5 -16.1 -6.9 5.3 6.4 0.6 -39.9 -9.9 -12.9 28

 29 Exchange-traded funds 88.3 71.6 132.9 166.8 188.2 13.5 181.4 168.4 389.4 143.4 156.6 29

 30 Brokers and dealers -18.5 -5.0 9.7 18.6 8.7 -85.5 32.0 53.8 34.6 -103.9 11.2 30

 31 Funding corporations 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Rest of the world (4) 127.8 44.0 126.8 -58.7 101.8 368.9 -59.7 219.5 -121.4 104.9 13.6 32

(1) Excludes mutual fund shares shown on table F.224.

(2) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC.

(3) Net purchases of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(4) Net purchases of U.S. issues by foreign residents.

F.224 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues 370.1 338.4 624.9 638.4 595.2 764.7 630.2 568.9 417.0 656.7 493.6 1

 2 Net purchases 370.1 338.4 624.9 638.4 595.2 764.7 630.2 568.9 417.0 656.7 493.6 2

 3 Household sector 164.7 257.3 471.3 513.8 404.8 570.3 369.5 390.3 289.3 531.7 443.6 3

 4 Nonfinancial corporate business 11.1 -12.8 -1.7 1.0 15.4 15.4 15.4 15.4 15.4 15.4 15.4 4

 5 State and local governments 3.0 -0.2 1.2 0.4 1.3 2.4 3.3 -1.6 0.9 2.9 -0.1 5

 6 U.S.-chartered depository institutions -5.8 -0.8 -1.1 1.6 -0.7 8.5 5.1 -12.8 -3.6 -2.5 3.8 6

 7 Credit unions 0.2 0.3 0.4 -0.1 -0.1 0.1 -0.2 -0.3 0.1 -0.4 0.5 7

 8 Property-casualty insurance companies -0.1 -0.7 1.8 1.0 1.4 1.3 1.3 1.3 1.6 2.4 2.4 8

 9 Life insurance companies 33.9 5.6 0.4 1.1 1.3 1.3 1.3 1.3 1.3 1.3 1.3 9

 10 Private pension funds 100.9 66.3 74.1 103.8 106.0 107.3 95.1 87.7 134.0 42.9 72.4 10

 11 State and local govt. retirement funds 4.0 -51.3 -11.3 35.9 17.7 26.9 15.8 12.1 16.1 25.1 31.5 11

 12 Rest of the world 58.2 74.7 89.7 -20.0 48.1 31.2 123.5 75.5 -38.0 38.1 -77.2 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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F.225 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in trade payables 154.9 128.6 134.6 195.4 178.3 110.3 240.8 169.9 192.2 150.5 171.8 1

 2 Household sector -29.4 1.2 4.0 1.0 3.1 4.0 3.6 1.9 3.0 1.4 1.8 2

 3 Nonfinancial corporate business 156.3 25.2 65.4 106.7 87.6 73.5 111.2 74.2 91.5 63.3 45.4 3

 4 Nonfinancial noncorporate business 30.3 54.8 13.1 19.9 33.8 13.3 39.8 29.9 52.1 47.4 45.1 4

 5 Federal government 5.2 8.8 13.4 19.7 18.4 10.2 24.7 23.5 15.2 2.4 25.1 5

 6 State and local governments 38.5 38.4 38.1 38.0 38.8 38.3 38.8 39.0 38.9 38.1 39.1 6

 7 Brokers and dealers -52.0 -3.8 -0.0 0.3 3.4 1.0 11.9 8.4 -7.8 5.0 17.7 7

 8 Rest of the world 6.0 4.0 0.7 9.8 -6.8 -29.9 10.7 -7.0 -0.7 -7.2 -2.5 8

 9 Net change in trade receivables 156.3 171.4 74.6 316.8 164.9 176.1 204.9 109.9 168.6 193.8 197.1 9

 10 Nonfinancial corporate business 96.9 83.7 52.0 277.2 108.8 88.7 123.8 111.5 111.4 122.7 116.8 10

 11 Nonfinancial noncorporate business 37.0 61.0 4.6 17.3 30.0 10.1 32.9 26.0 51.1 36.3 48.0 11

 12 Federal government -0.7 4.8 2.6 3.3 2.2 8.2 -0.0 -2.7 3.2 0.2 -0.6 12

 13 State and local governments 13.1 5.6 5.3 8.9 8.5 2.9 14.3 7.1 9.6 4.7 10.2 13

 14 Property-casualty insurance companies 0.8 3.4 4.8 3.3 5.5 19.3 15.2 -2.0 -10.3 21.3 12.9 14

 15 ABS issuers -9.5 -4.2 -6.4 -5.4 -4.4 -5.7 -1.6 -11.6 1.2 -0.0 -0.3 15

 16 Rest of the world 18.6 17.1 11.6 12.3 14.3 52.6 20.4 -18.3 2.4 8.7 10.0 16

 17 Discrepancy -1.4 -42.8 60.0 -121.4 13.4 -65.8 35.9 60.0 23.6 -43.3 -25.3 17

F.226 Life Insurance Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities 14.4 81.1 -11.9 30.0 56.3 41.7 52.6 56.2 74.5 87.1 50.0 1

 2 Federal government 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 0.9 2

 3 Life insurance companies 13.6 79.9 -12.2 29.8 55.5 41.8 52.1 55.0 73.1 89.1 49.0 3

 4 Net change in assets 14.4 81.1 -11.9 30.0 56.3 41.7 52.6 56.2 74.5 87.1 50.0 4

 5 Households 6.2 73.5 -26.6 19.2 45.3 31.3 41.4 46.4 62.2 77.7 37.3 5

 6 U.S.-chartered depository institutions 4.5 5.2 7.4 5.7 5.9 5.6 6.0 5.0 6.9 5.2 8.6 6

 7 Holding companies 3.8 2.4 7.3 5.1 5.0 4.7 5.3 4.8 5.3 4.2 4.0 7
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F.227 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 651.1 539.5 581.3 529.9 532.3 507.0 521.0 532.8 568.3 478.7 515.6 1

 2 Life insurance companies (1) 73.4 83.6 77.8 66.4 85.6 76.0 62.7 104.5 99.2 50.4 63.0 2

 3 Private pension funds (2) 231.6 140.8 194.4 148.6 110.0 99.9 127.4 89.8 123.0 116.9 104.9 3

 4 Federal government retirement funds (3) 102.1 113.0 102.1 107.6 112.8 103.8 100.8 119.4 127.0 103.6 103.3 4

 5 State and local govt. retirement funds 244.0 202.1 207.0 207.3 223.9 227.2 230.1 219.0 219.1 207.8 244.4 5

 6 Net change in assets (Households) (4) 651.1 539.5 581.3 529.9 532.3 507.0 521.0 532.8 568.3 478.7 515.6 6

 Memo:

 7 Individual Retirement Accounts (IRAs) at: (5) 213.4 380.0 261.0 229.9 241.0 223.6 346.2 367.5 26.8 269.4 ND 7

 8 U.S.-chartered depository institutions 26.6 20.3 24.4 -0.4 0.1 -27.0 -6.9 15.4 19.0 -34.4 ND 8

 9 Credit unions 3.0 1.2 1.4 -0.7 -1.6 -1.2 -1.5 -1.5 -2.1 -0.9 ND 9

 10 Life insurance companies 28.0 15.8 25.8 18.3 14.4 17.6 1.8 25.2 12.9 12.9 ND 10

 11 Money market mutual funds -24.0 9.0 5.0 14.0 -11.0 -16.0 -20.0 12.0 -20.0 0.0 ND 11

 12 Mutual funds 157.8 60.3 128.0 128.1 93.6 149.4 225.1 -15.8 15.7 -189.6 ND 12

 13 Other self-directed accounts 22.0 273.4 76.5 70.5 145.5 100.8 147.7 332.0 1.3 481.4 ND 13

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Assets of the household sector (F.101). Figures for depositories (lines 8 and 9) include Keogh accounts. Variable annuities in IRAs are included in the life insurance sector (line 10)

 and excluded from the money market mutual fund and mutual fund sectors (lines 11 and 12).

F.228 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in taxes payable by all 19.4 20.1 16.8 12.2 22.2 38.8 40.3 13.0 -3.4 69.6 -18.2 1

 businesses

 2 Nonfinancial corporate business 7.2 8.8 2.3 -9.1 0.1 -10.0 5.7 17.8 -13.2 16.8 25.1 2

 3 Nonfinancial noncorporate business -0.7 0.6 7.6 3.6 6.2 2.1 6.8 5.3 10.5 17.5 9.9 3

 4 U.S.-chartered depository institutions 6.6 10.6 7.0 0.1 15.2 31.1 29.0 -11.6 12.3 19.1 -27.7 4

 5 Property-casualty insurance companies 5.6 -4.4 3.8 19.1 1.9 7.3 -2.8 3.0 0.4 1.4 -18.9 5

 6 Life insurance companies 2.6 5.2 -4.6 -2.3 -1.9 5.0 -1.0 -3.4 -8.3 10.0 -5.6 6

 7 Finance companies 0.3 0.5 0.2 0.1 0.3 0.1 0.1 0.8 0.3 1.6 1.6 7

 8 Brokers and dealers -2.1 -1.1 0.5 0.6 0.3 3.2 2.5 1.1 -5.5 3.3 -2.5 8

 9 Net change in business taxes receivable 28.1 27.9 30.4 30.8 -13.8 -6.5 38.0 -38.3 -48.2 86.8 52.6 9

 10 Federal government 27.1 25.6 22.0 27.2 -19.9 0.1 15.6 -39.2 -56.3 79.8 22.9 10

 11 State and local governments 1.0 2.3 8.4 3.6 6.2 -6.7 22.4 0.8 8.1 7.0 29.6 11

 12 Discrepancy -8.6 -7.8 -13.6 -18.6 35.9 45.3 2.3 51.4 44.8 -17.2 -70.8 12

F.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total household investment 167.2 171.5 140.5 76.5 39.1 82.3 21.6 37.9 14.5 -4.2 -31.0 1

 2 Nonfinancial noncorporate business 166.4 174.4 133.7 82.1 37.1 78.6 23.2 30.8 15.6 -3.0 -29.9 2

 3 Brokers and dealers 0.9 -2.9 6.7 -5.6 2.0 3.8 -1.6 7.0 -1.1 -1.1 -1.1 3
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F.230 Direct Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 301.1 419.1 339.7 328.6 336.9 231.2 303.5 363.4 449.7 302.1 347.9 1

 2 Equity 343.0 401.5 322.6 336.9 355.6 224.5 342.3 386.1 469.6 310.7 348.0 2

 3 Equity (other than reinvested earnings) 40.6 89.1 37.2 17.2 8.0 -100.9 -15.1 35.8 112.1 -1.1 38.4 3

 4 Reinvested earnings 302.5 312.4 285.3 319.7 347.6 325.4 357.4 350.3 357.5 311.7 309.6 4

 5 Of which: Current-cost adjustment 23.3 22.5 21.5 20.7 20.4 20.5 20.4 20.4 20.3 20.1 20.1 5

 6 Intercompany debt (2) -42.0 17.5 17.1 -8.3 -18.7 6.6 -38.8 -22.7 -19.9 -8.5 -0.1 6

 7 U.S. parents’ claims 1.5 42.2 18.1 9.6 -2.1 15.5 -1.2 20.1 -42.8 -34.1 20.3 7

 8 Less: U.S. parents’ liabilities 43.5 24.7 1.0 17.9 16.6 8.8 37.7 42.8 -22.9 -25.5 20.4 8

 9 Asset: Nonfinancial corporate business 303.3 403.9 319.2 305.0 311.0 190.9 290.7 321.1 441.1 294.1 282.4 9

 10 Of which: Current-cost adjustment 23.3 22.5 21.5 20.7 20.4 20.5 20.4 20.4 20.3 20.1 20.1 10

 11 U.S.-chartered depository institutions 2.7 -6.2 -1.6 0.3 4.7 -3.1 0.7 14.2 7.0 -7.1 1.9 11

 12 Property-casualty insurance companies -22.2 1.1 0.4 10.2 4.0 5.7 4.1 8.6 -2.3 2.1 10.7 12

 13 Life insurance companies 1.9 3.3 5.9 2.9 2.2 2.9 -1.4 4.0 3.3 7.5 6.9 13

 14 Finance companies 6.8 12.0 8.5 -1.4 7.9 26.3 7.4 5.9 -8.1 0.0 25.9 14

 15 Brokers and dealers 8.7 4.9 7.3 11.7 7.2 8.5 2.0 9.7 8.6 5.5 20.2 15

 Foreign direct investment in U.S.:

 16 Liab.: Nonfinancial corporate business 157.0 192.7 188.3 184.9 97.1 -425.2 242.8 370.2 200.8 762.4 245.0 16

 17 Of which: Current-cost adjustment 7.8 6.2 5.4 5.1 5.0 5.0 5.0 4.9 4.9 4.9 4.9 17

 18 Nonfinancial noncorporate business 0.3 0.0 0.4 0.6 0.8 0.8 0.9 0.9 0.8 3.6 1.4 18

 19 Foreign banking offices in U.S. 12.4 26.0 -1.9 9.5 0.7 -0.1 1.6 -7.1 8.2 -6.2 0.6 19

 20 Property-casualty insurance companies 2.8 -2.2 -8.2 11.5 -0.5 -4.2 -4.0 10.0 -3.8 -2.5 -0.7 20

 21 Life insurance companies 6.3 -5.4 2.4 0.9 5.8 -2.2 9.6 15.8 -0.1 28.4 1.3 21

 22 Finance companies 13.2 6.1 -3.3 2.3 3.3 14.3 2.4 1.5 -4.7 0.0 2.3 22

 23 Brokers and dealers 13.2 18.2 15.4 6.2 3.7 5.2 2.2 0.2 7.3 7.1 5.9 23

 24 Funding corporations 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 24

 25 Asset: Rest of the world (1) 205.9 236.1 193.8 216.6 111.6 -410.7 255.9 392.1 209.1 793.3 256.3 25

 26 Equity 203.1 185.1 193.8 211.8 68.9 -391.0 235.0 237.7 193.6 634.6 200.5 26

 27 Equity (other than reinvested earnings) 140.5 106.5 106.3 127.1 -30.1 -464.9 124.0 133.8 86.6 567.3 111.3 27

 28 Reinvested earnings 62.7 78.6 87.5 84.7 99.0 73.9 111.1 104.0 107.0 67.3 89.3 28

 29 Of which: Current-cost adjustment 7.8 6.2 5.4 5.1 5.0 5.0 5.0 4.9 4.9 4.9 4.9 29

 30 Intercompany debt 2.7 51.0 -0.0 4.8 42.7 -19.8 20.9 154.3 15.4 158.6 55.8 30

 31 U.S. affiliates’ liabilities 12.7 47.7 37.2 57.5 46.4 -39.6 40.9 145.4 38.8 151.8 91.7 31

 32 Less: U.S. affiliates’ claims 10.0 -3.4 37.2 52.7 3.7 -19.8 20.0 -9.0 23.4 -6.8 35.9 32

 Memo:

 Direct investment, asset/liability presentation:

 33 Net U.S. acquisition of direct investment assets 354.6 440.4 377.9 399.2 357.2 220.2 361.2 397.2 450.2 269.8 404.2 33

 34 Equity (line 2) 343.0 401.5 322.6 336.9 355.6 224.5 342.3 386.1 469.6 310.7 348.0 34

 35 Intercompany debt 11.5 38.9 55.3 62.3 1.6 -4.3 18.9 11.1 -19.4 -40.9 56.2 35

 36 U.S. parents’ claims (line 7) 1.5 42.2 18.1 9.6 -2.1 15.5 -1.2 20.1 -42.8 -34.1 20.3 36

 37 U.S. affiliates’ claims (line 32) 10.0 -3.4 37.2 52.7 3.7 -19.8 20.0 -9.0 23.4 -6.8 35.9 37

 38 Net U.S. incurrence of direct investment liabilities 259.3 257.4 232.0 287.2 131.8 -421.7 313.6 425.9 209.5 760.9 312.7 38

 39 Equity (line 26) 203.1 185.1 193.8 211.8 68.9 -391.0 235.0 237.7 193.6 634.6 200.5 39

 40 Intercompany debt 56.2 72.4 38.2 75.4 63.0 -30.7 78.6 188.1 15.9 126.2 112.1 40

 41 U.S. parents’ liabilities (line 8) 43.5 24.7 1.0 17.9 16.6 8.8 37.7 42.8 -22.9 -25.5 20.4 41

 42 U.S. affiliates’ liabilities (line 31) 12.7 47.7 37.2 57.5 46.4 -39.6 40.9 145.4 38.8 151.8 91.7 42

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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Z.1, September 18, 2015 69

F.231 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 500.7 1076.3 953.5 985.3 1191.9 1934.0 1461.3 490.7 881.5 1117.2 1365.4 1

 2 Household sector 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 3.2 2

 3 Nonfinancial corporate business 488.5 827.6 710.2 642.7 632.6 857.8 719.6 481.8 471.1 223.4 647.4 3

 4 Nonfinancial noncorporate business -54.3 -21.0 51.8 -85.3 5.6 -11.4 8.0 2.1 23.5 54.9 10.9 4

 5 Federal government 45.0 53.0 55.4 4.1 36.2 15.7 66.3 11.0 51.7 387.2 576.0 5

 6 State and local governments 249.1 316.3 312.2 244.4 237.1 325.8 309.7 141.2 171.7 124.2 154.0 6

 7 Monetary authority 28.7 -27.2 4.0 9.8 3.5 76.1 -33.9 -62.7 34.3 75.5 -47.4 7

 8 U.S.-chartered depository institutions -8.9 -94.9 147.1 120.1 318.5 259.5 248.7 314.6 451.1 3.4 166.2 8

 9 Foreign banking offices in U.S. -30.5 10.1 -35.7 -33.2 -11.7 5.7 -13.6 63.2 -102.2 11.3 -45.8 9

 10 Banks in U.S.-affiliated areas -5.9 -3.9 -2.0 -3.0 -1.6 2.1 1.7 -10.5 0.2 -3.4 3.2 10

 11 Credit unions -8.3 1.3 0.3 1.5 1.2 3.3 5.1 -3.2 -0.4 7.2 -19.2 11

 12 Property-casualty insurance companies 6.3 35.2 -1.0 -0.3 14.8 3.8 34.3 26.8 -5.8 -11.2 33.5 12

 13 Life insurance companies 59.4 48.3 29.9 -12.9 30.9 68.7 86.1 -46.3 15.1 62.0 -80.0 13

 14 Government-sponsored enterprises -42.2 -49.2 -6.1 -9.4 -3.6 -13.8 -0.7 6.8 -6.9 -4.2 -20.3 14

 15 Finance companies -71.7 -19.1 -22.3 -28.2 -18.5 -34.9 -11.2 -67.0 39.2 -14.8 -3.6 15

 16 REITs 4.1 7.1 25.4 -21.7 11.8 26.1 17.7 1.9 1.5 -5.3 -23.3 16

 17 Brokers and dealers 9.0 -19.4 -7.7 41.3 -19.9 195.7 24.1 -73.5 -225.8 195.8 68.6 17

 18 Holding companies -68.5 -36.2 -98.6 222.0 -31.1 60.9 99.1 -201.3 -83.2 -251.2 -17.8 18

 19 Funding corporations -104.6 -84.3 -70.0 -86.5 -3.9 120.8 -140.3 -78.2 82.1 218.5 3.9 19

 20 Rest of the world 2.7 132.9 -140.0 -23.3 -11.0 -32.1 35.5 -13.6 -33.7 39.4 -44.0 20

 21 Net change in assets 232.7 687.1 566.5 1320.1 937.8 1922.2 1208.2 146.8 473.8 1469.4 808.3 21

 22 Household sector 8.3 61.6 -6.1 49.3 8.5 22.0 30.6 12.6 -31.2 41.0 38.9 22

 23 Nonfinancial corporate business 214.8 25.8 107.1 302.2 168.9 348.4 363.4 100.3 -136.4 272.4 -5.6 23

 24 Nonfinancial noncorporate business 105.0 109.1 222.4 43.6 131.4 51.4 142.9 115.4 216.0 125.9 172.7 24

 25 State and local governments -22.0 -1.1 7.2 5.4 7.6 10.1 12.6 0.9 6.9 11.7 4.4 25

 26 Federal government -3.6 2.0 -1.0 5.9 12.5 11.0 19.9 11.0 8.2 18.2 21.1 26

 27 Monetary authority 7.3 142.4 -25.6 32.3 -0.5 8.2 3.3 -8.8 -4.8 -32.4 -14.8 27

 28 U.S.-chartered depository institutions -99.7 -68.5 -10.7 -4.6 -8.1 98.8 54.5 -104.9 -80.6 133.4 90.7 28

 29 Foreign banking offices in U.S. -15.3 15.0 -0.3 13.1 14.4 56.3 3.7 8.8 -11.3 17.8 -23.7 29

 30 Banks in U.S.-affiliated areas 4.5 0.8 0.2 8.6 12.8 -12.5 20.3 -4.8 48.4 -8.2 22.4 30

 31 Credit unions 41.1 -12.1 0.8 -1.6 5.3 -2.7 7.3 -5.8 22.4 -13.6 14.8 31

 32 Life insurance companies -7.6 56.4 26.8 28.0 71.9 44.7 43.1 26.7 173.2 73.4 -98.0 32

 33 Private pension funds -3.6 49.6 15.8 133.3 85.4 22.9 140.9 54.5 123.3 31.2 73.3 33

 34 Federal government retirement funds 20.2 20.8 50.4 -9.3 22.8 11.5 32.6 10.5 36.6 402.2 567.1 34

 35 State and local govt. retirement funds 278.1 307.2 304.2 246.7 244.5 339.5 334.1 132.0 172.4 145.8 167.9 35

 36 Money market mutual funds -3.4 -0.8 6.1 2.8 -14.3 -34.5 -113.1 17.6 72.8 -58.5 -22.1 36

 37 Mutual funds -12.0 2.9 -33.1 19.1 -4.3 130.7 -86.9 82.2 -143.0 27.4 0.0 37

 38 Government-sponsored enterprises 29.3 -0.1 4.1 13.1 -11.0 -54.1 -2.7 -8.6 21.5 40.2 6.2 38

 39 Finance companies -101.2 -5.9 -34.2 -16.9 9.3 -35.5 4.6 7.6 60.4 6.3 -108.0 39

 40 REITs 1.3 8.5 25.8 12.2 16.9 39.3 44.8 14.9 -31.6 23.8 -0.2 40

 41 Brokers and dealers -112.9 -106.6 -68.7 145.2 49.3 682.3 -200.1 -173.5 -111.7 270.7 -253.2 41

 42 Holding companies -37.7 60.6 -31.8 278.8 111.2 173.4 299.2 -179.0 151.4 -134.5 155.4 42

 43 Funding corporations -58.4 19.6 7.2 13.0 3.0 11.0 53.1 37.2 -89.3 75.5 -1.2 43

 44 Discrepancy 268.1 389.1 387.0 -334.8 254.1 11.8 253.1 343.9 407.7 -352.2 557.2 44
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70 Z.1, September 18, 2015

F.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 2.3 2.6 2.4 2.2 2.3 0.0 6.8 1.9 0.7 7.3 3.8 1

 2 Asset: Federal government 2.3 2.6 2.4 2.2 2.3 0.0 6.8 1.9 0.7 7.3 3.8 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 0.9 0.4 0.5 0.1 1.1 2.2 0.4 0.1 1.5 1.0 1.2 3

 4 Asset: U.S.-chartered depository institutions 0.9 0.4 0.5 0.1 1.1 2.2 0.4 0.1 1.5 1.0 1.2 4

 Equity in govt.-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises -2.7 -5.9 -1.8 0.5 1.2 -4.7 6.1 1.4 2.0 -4.3 4.2 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.1 -0.0 0.0 0.0 0.1 0.6 -0.2 -0.0 0.1 0.3 -0.1 6

 7 Nonfinancial noncorporate (FCS) 0.4 0.3 0.1 0.6 0.8 1.1 0.3 0.7 0.9 0.4 0.5 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) -3.0 -6.1 -2.2 -0.6 -0.6 -6.7 4.5 -0.4 0.2 -6.1 1.8 9

 10 Credit unions (FHLB) -0.2 0.7 0.1 -0.6 0.6 0.1 0.9 0.7 0.7 0.3 0.8 10

 11 Life insurance companies (FHLB) -0.0 -0.8 0.1 1.0 0.4 0.2 0.6 0.4 0.2 0.8 1.3 11

 Holding company net transactions with subsidiaries:

 12 Liab.: U.S.-chartered depository institutions 33.4 76.1 101.2 59.2 195.9 179.2 200.8 108.0 295.8 -81.7 117.0 12

 13 Property-casualty insurance companies 0.0 0.0 -6.8 -6.0 0.1 -2.2 1.9 -0.2 0.9 -5.5 2.8 13

 14 Life insurance companies 22.2 9.3 10.3 3.4 0.8 0.9 2.3 -0.3 0.2 1.1 0.2 14

 15 Finance companies -39.5 -20.3 -3.5 -15.8 -13.1 -45.9 -3.0 -4.0 0.5 -4.5 -9.5 15

 16 Brokers and dealers -24.3 -13.0 52.3 57.1 4.8 99.9 56.3 -163.8 26.8 -67.3 215.7 16

 17 Rest of the world 10.6 30.6 -51.5 -16.9 -14.6 -32.6 29.9 -16.0 -39.6 34.9 -47.1 17

 18 Asset: Holding companies 2.4 82.7 101.9 81.0 173.9 199.3 288.2 -76.4 284.5 -123.0 279.0 18

 NFC investment in finance company subsidiaries:

 19 Liab.: Finance companies 26.7 8.4 2.6 14.7 14.1 66.9 -4.8 -6.5 0.7 -7.3 -15.3 19

 20 Asset: Nonfinancial corporate business 26.7 8.4 2.6 14.7 14.1 66.9 -4.8 -6.5 0.7 -7.3 -15.3 20

 Funding corporations’ investment in subsidiaries:

 21 Liab.: Foreign banking offices in U.S. -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 51.6 21

 22 Brokers and dealers -26.9 53.4 19.0 15.5 23.3 9.6 65.3 9.1 9.2 103.4 -52.7 22

 23 Asset: Funding corporations -58.4 19.6 7.2 13.0 3.0 11.0 53.1 37.2 -89.3 75.5 -1.2 23

 Equity investment under Public-Private Inv. Program:

 24 Liab.: Funding corporations 7.9 1.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Asset: Households (2) 4.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Federal government 4.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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Z.1, September 18, 2015 71

F.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 -0.7 1

 2 Asset: Federal government 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Monetary authority (1) -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 -0.7 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises -1.5 -1.8 1.2 -3.2 -1.5 -0.5 -5.6 1.1 -1.0 4.4 -3.7 6

 7 Asset: U.S.-chartered depository institutions -1.5 -1.8 1.2 -3.2 -1.5 -0.5 -5.6 1.1 -1.0 4.4 -3.7 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 3.2 8

 9 Asset: Life insurance companies 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 3.2 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 17.1 14.8 -1.8 0.4 5.8 15.0 12.7 1.7 -6.2 13.9 2.2 10

 11 Accident and health 17.0 15.6 -2.4 0.2 5.5 14.5 12.3 -3.3 -1.7 7.8 3.5 11

 12 Policy dividend accumulation 0.4 -1.8 0.4 0.2 0.2 -0.6 2.0 0.9 -1.3 -0.8 1.4 12

 13 Contract claims -0.4 0.9 0.3 -0.0 0.1 1.1 -1.6 4.1 -3.2 6.9 -2.7 13

 14 Asset: Household sector 17.1 14.8 -1.8 0.4 5.8 15.0 12.7 1.7 -6.2 13.9 2.2 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 6.3 35.2 5.8 5.7 14.7 6.0 32.4 27.1 -6.6 -5.6 30.7 15

 16 Asset: Household sector -35.2 27.6 -17.7 36.8 -7.7 -10.0 0.1 -2.1 -18.7 23.9 41.1 16

 17 Nonfinancial corporate business 11.7 12.3 8.0 -5.8 10.0 6.2 17.4 15.0 1.4 -8.9 5.7 17

 18 Nonfinancial noncorporate business 29.9 -4.7 15.4 -25.3 12.4 9.8 14.9 14.2 10.7 -20.6 -16.1 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 12.6 12.0 0.8 -11.4 8.3 4.1 27.5 -12.3 14.1 21.5 12.2 19

 20 Asset: Private pension funds -1.0 22.7 5.6 -3.3 3.1 -0.5 14.7 -8.7 6.7 15.1 3.9 20

 21 State and local government retirement funds 13.6 -10.7 -4.8 -8.1 5.3 4.5 12.9 -3.6 7.4 6.4 8.2 21

 Pension fund contributions payable:

 22 Liab.: Nonfinancial corporate business 15.4 3.0 -12.3 -2.5 -1.1 -2.8 -0.9 1.5 -2.0 6.7 1.2 22

 23 Asset: Private pension funds 15.4 3.0 -12.3 -2.5 -1.1 -2.8 -0.9 1.5 -2.0 6.7 1.2 23

 Securities borrowed (net):

 24 Liab.: Funding corporations -123.5 -74.6 -79.2 94.0 47.1 484.0 -192.0 -44.8 -58.9 139.1 -209.2 24

 25 Asset: Brokers and dealers -123.5 -74.6 -79.2 94.0 47.1 484.0 -192.0 -44.8 -58.9 139.1 -209.2 25

 Retiree health care funds (2):

 26 Liab.: Federal government 22.5 18.5 13.3 12.2 10.4 17.0 17.7 13.1 -6.3 3.1 -4.4 26

 27 Asset: Household sector 22.5 18.5 13.3 12.2 10.4 17.0 17.7 13.1 -6.3 3.1 -4.4 27

 Claims of pension fund on sponsor (3):

 28 Liab.: Nonfinancial corporate business -32.1 -19.5 -11.6 110.9 54.4 -17.0 80.8 44.8 109.2 -22.3 50.2 28

 29 Federal government 20.2 20.8 50.4 -9.3 22.8 11.5 32.6 10.5 36.6 402.2 567.1 29

 30 State and local governments 249.1 316.3 312.2 244.4 237.1 325.8 309.7 141.2 171.7 124.2 154.0 30

 31 Asset: Private pension funds -32.1 -19.5 -11.6 110.9 54.4 -17.0 80.8 44.8 109.2 -22.3 50.2 31

 32 Federal government retirement funds 20.2 20.8 50.4 -9.3 22.8 11.5 32.6 10.5 36.6 402.2 567.1 32

 33 State and local govt. retirement funds 249.1 316.3 312.2 244.4 237.1 325.8 309.7 141.2 171.7 124.2 154.0 33

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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72 Z.1, September 18, 2015

F.234 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 343.1 543.2 652.3 438.1 595.7 811.6 792.3 351.4 427.6 479.2 491.0 1

 2 Nonfinancial corporate business 505.2 844.1 734.2 534.3 579.2 877.6 639.7 435.5 364.0 239.0 596.1 2

 3 Nonfinancial noncorporate business -54.3 -21.0 51.8 -85.3 5.6 -11.4 8.0 2.1 23.5 54.9 10.9 3

 4 Federal government 2.4 13.6 -8.3 1.3 3.0 -12.8 16.0 -12.5 21.3 -18.1 13.3 4

 5 Monetary authority 27.8 -27.5 3.5 9.7 2.4 74.0 -34.4 -62.8 32.7 74.5 -48.7 5

 6 U.S.-chartered depository institutions -42.3 -171.0 45.9 60.9 122.5 80.3 47.9 206.6 155.3 85.1 49.2 6

 7 Foreign banking offices in U.S. 1.1 43.8 -23.9 -30.7 8.6 4.2 -1.4 35.0 -3.7 39.2 -97.4 7

 8 Banks in U.S.-affiliated areas -5.9 -3.9 -2.0 -3.0 -1.6 2.1 1.7 -10.5 0.2 -3.4 3.2 8

 9 Credit unions -8.3 1.3 0.3 1.5 1.2 3.3 5.1 -3.2 -0.4 7.2 -19.2 9

 10 Life insurance companies 7.4 12.2 20.6 -5.2 16.0 48.7 43.4 -35.4 7.1 25.5 -94.6 10

 11 Government-sponsored enterprises -37.9 -41.4 -5.4 -6.7 -3.4 -8.6 -1.2 4.4 -7.9 -4.3 -20.8 11

 12 Finance companies -58.8 -7.1 -21.4 -27.1 -19.4 -55.9 -3.5 -56.4 38.0 -3.0 21.2 12

 13 REITs 4.1 7.1 25.4 -21.7 11.8 26.1 17.7 1.9 1.5 -5.3 -23.3 13

 14 Brokers and dealers 60.2 -59.8 -79.0 -31.3 -48.0 86.2 -97.5 81.3 -261.8 159.7 -94.3 14

 15 Holding companies -68.5 -36.2 -98.6 222.0 -31.1 60.9 99.1 -201.3 -83.2 -251.2 -17.8 15

 16 Funding corporations 10.9 -11.1 9.1 -180.5 -51.0 -363.2 51.6 -33.4 141.1 79.4 213.2 16

 17 Net change in assets 75.1 154.0 265.3 772.9 341.6 799.8 539.2 7.5 19.9 831.4 -66.1 17

 18 Nonfinancial corporate business 176.3 5.2 96.5 293.2 144.7 274.6 351.0 91.9 -138.7 288.4 4.1 18

 19 Nonfinancial noncorporate business 74.7 113.5 206.9 68.3 118.3 40.6 127.7 100.5 204.5 146.1 188.3 19

 20 Federal government -9.8 -1.3 -3.5 3.7 10.2 11.0 13.2 9.1 7.5 10.9 17.4 20

 21 State and local governments -22.0 -1.1 7.2 5.4 7.6 10.1 12.6 0.9 6.9 11.7 4.4 21

 22 Monetary authority 17.5 42.7 65.3 40.9 -1.8 7.7 4.4 -9.3 -9.9 -29.5 -14.1 22

 23 U.S.-chartered depository institutions -96.0 -60.9 -10.2 -1.0 -7.0 103.8 55.1 -105.8 -81.3 134.1 91.4 23

 24 Foreign banking offices in U.S. -15.3 15.0 -0.3 13.1 14.4 56.3 3.7 8.8 -11.3 17.8 -23.7 24

 25 Banks in U.S.-affiliated areas 4.5 0.8 0.2 8.6 12.8 -12.5 20.3 -4.8 48.4 -8.2 22.4 25

 26 Credit unions 41.3 -12.8 0.7 -1.1 4.7 -2.7 6.4 -6.5 21.8 -13.8 14.0 26

 27 Life insurance companies -10.2 57.6 26.1 24.1 70.4 40.4 37.2 29.0 175.1 68.0 -102.4 27

 28 Private pension funds 14.2 43.4 34.1 28.1 29.0 43.2 46.3 16.9 9.4 31.6 18.0 28

 29 State and local govt. retirement funds 15.4 1.6 -3.2 10.4 2.1 9.2 11.6 -5.6 -6.6 15.1 5.7 29

 30 Money market mutual funds -3.4 -0.8 6.1 2.8 -14.3 -34.5 -113.1 17.6 72.8 -58.5 -22.1 30

 31 Mutual funds -12.0 2.9 -33.1 19.1 -4.3 130.7 -86.9 82.2 -143.0 27.4 0.0 31

 32 Government-sponsored enterprises 29.3 -0.1 4.1 13.1 -11.0 -54.1 -2.7 -8.6 21.5 40.2 6.2 32

 33 Finance companies -101.2 -5.9 -34.2 -16.9 9.3 -35.5 4.6 7.6 60.4 6.3 -108.0 33

 34 REITs 1.3 8.5 25.8 12.2 16.9 39.3 44.8 14.9 -31.6 23.8 -0.2 34

 35 Brokers and dealers 10.6 -32.0 10.5 51.2 2.2 198.4 -8.1 -128.7 -52.8 131.6 -44.0 35

 36 Holding companies -40.1 -22.2 -133.7 197.8 -62.7 -26.0 11.0 -102.6 -133.1 -11.4 -123.6 36

 37 Discrepancy 268.1 389.1 387.0 -334.8 254.1 11.8 253.1 343.9 407.7 -352.2 557.2 37
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Z.1, September 18, 2015 73

F.7 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1 Q2

 1 All sectors 331.5 317.4 485.7 -382.1 242.4 271.3 -12.1 826.1 -115.7 234.1 207.2 1

 2 Household sector -267.7 -670.0 -216.2 -456.5 -261.3 -199.6 -271.7 179.2 -753.0 -768.2 318.8 2

 3 Nonfinancial corporate business 296.1 794.2 734.2 282.4 487.2 385.7 374.1 737.7 451.1 638.3 353.3 3

 4 Federal government -49.1 -9.9 -63.0 -36.6 -48.6 59.3 -154.9 30.8 -129.4 -124.5 -225.1 4

 5 State and local governments -33.1 61.8 0.8 20.9 -16.5 22.3 -13.9 -25.8 -48.7 -33.7 74.9 5

 6 Domestic financial sectors 207.0 74.9 31.1 -215.5 3.6 226.5 47.0 -356.1 96.9 -298.3 -157.0 6

 7 Monetary authority -10.0 -1.2 -18.8 -1.6 3.9 -6.6 1.0 11.8 9.6 6.7 9.4 7

 8 U.S.-chartered depository institutions 157.4 90.0 33.5 -20.4 65.4 234.6 58.4 -162.1 130.8 -152.4 -231.0 8

 9 Foreign banking officed in U.S. -17.6 1.4 11.0 -47.0 0.5 98.0 -7.5 -114.3 25.6 -84.1 36.7 9

 10 Banks in U.S.-affiliated areas -0.0 1.0 -0.1 -0.3 -0.2 2.8 1.2 -3.0 -1.8 3.3 1.8 10

 11 Credit unions -6.4 -27.2 4.8 14.2 -2.0 -7.1 -3.5 5.6 -2.8 -5.2 3.5 11

 12 Property-casualty insurance companies 76.6 6.6 -21.3 16.0 -6.3 -8.3 15.5 -17.0 -15.5 -26.0 1.1 12

 13 Life insurance companies -31.8 -30.3 -37.2 -23.8 -44.8 -52.8 -35.8 -28.6 -61.9 -45.2 23.8 13

 14 Mutual funds -24.9 -35.7 -41.5 -57.0 -53.4 -57.1 -54.8 -50.5 -51.1 -50.0 -56.0 14

 15 Government-sponsored enterprises 43.0 3.0 34.2 0.3 24.9 26.1 39.6 -38.7 72.6 -36.5 -33.1 15

 16 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Finance companies 9.9 43.2 27.8 -79.5 -3.9 -10.2 3.4 5.2 -14.0 34.9 41.3 17

 18 REITs 7.9 18.1 29.2 43.1 31.7 7.4 10.8 43.8 64.8 65.6 56.0 18

 19 Brokers and dealers -6.0 30.5 -37.0 -33.0 -12.2 -15.7 21.3 -2.1 -52.2 16.1 -21.4 19

 20 Holding companies 8.8 -24.3 46.5 -26.4 -0.1 15.6 -2.4 -6.3 -7.1 -25.5 10.8 20

 21 Rest of the world 178.4 66.5 -1.2 23.2 78.1 -222.9 7.3 260.4 267.5 820.6 -157.7 21

F.8 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 All types 331.5 317.4 485.7 -382.1 242.4 271.3 -12.1 826.1 -115.7 234.1 207.2 1

 2 Treasury currency -1.1 -0.7 -0.6 -1.1 -1.1 -1.0 -0.9 -1.8 -0.5 -1.5 -1.1 2

 3 Foreign deposits 49.2 -136.3 -140.5 -8.7 -91.6 7.9 -137.2 191.4 -428.7 -34.9 -310.8 3

 4 Net interbank transactions 25.8 3.5 5.7 56.8 -47.1 174.9 -155.6 14.9 -222.5 288.4 -167.1 4

 5 Security repurchase agreements 54.8 77.7 -12.5 -126.2 -129.1 -32.4 -289.6 -53.1 -141.4 188.8 10.5 5

 6 Mail floats -1.1 0.8 1.5 -0.7 0.9 -39.7 98.0 0.5 -55.4 -41.2 98.9 6

 7 Federal government 0.0 -0.1 0.6 0.4 1.1 -42.9 97.7 4.3 -54.6 -41.7 99.1 7

 8 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Private domestic -1.1 0.9 0.9 -1.2 -0.3 3.2 0.3 -3.7 -0.8 0.6 -0.2 9

 10 Trade credit -1.4 -42.8 60.0 -121.4 13.4 -65.8 35.9 60.0 23.6 -43.3 -25.3 10

 11 Taxes payable -8.6 -7.8 -13.6 -18.6 35.9 45.3 2.3 51.4 44.8 -17.2 -70.8 11

 12 Miscellaneous 268.1 389.1 387.0 -334.8 254.1 11.8 253.1 343.9 407.7 -352.2 557.2 12

 13 Nonfinancial -54.1 33.9 198.6 172.5 206.9 170.2 181.9 218.9 256.7 247.1 115.7 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) 49.2 -38.3 -203.3 -177.6 -212.0 -175.3 -187.0 -224.0 -261.8 -252.3 -120.9 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 4.9 4.4 4.6 5.2 5.1 5.1 5.1 5.1 5.1 5.2 5.2 15