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

RFor use at 12:00 noon, eastern time

September 21, 2020

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

Second Quarter 2020

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

i

The net worth of households and nonprofits rose to 

$119.0 trillion in the second quarter of 2020. The value 

of directly and indirectly held corporate equities 

increased $5.7 trillion and the value of real estate 

increased $0.5 trillion.

Domestic nonfinancial debt outstanding was $59.3

trillion at the end of the second quarter of 2020, of 

which household debt was $16.1 trillion, nonfinancial 

business debt was $17.6 trillion, and total government 

debt was $25.6 trillion.

Domestic nonfinancial debt expanded 25.3 percent at 

an annual rate in the second quarter of 2020, up from an 

annual rate of 10.6 percent in the previous quarter.

Household debt increased 0.5 percent at an annual rate 

in the second quarter of 2020. Consumer credit shrank at 

an annual rate of 6.6 percent, while mortgage debt 

(excluding charge-offs) grew at an annual rate of 3

percent.

Nonfinancial business debt rose at an annual rate of 14

percent in the second quarter of 2020, down from a 18.4

percent annual rate in the previous quarter.

Federal government debt increased 58.9 percent at an 

annual rate in the second quarter of 2020, up from a 11.4

percent annual rate in the previous quarter.

State and local government debt expanded at an 

annual rate of 3.5 percent in the second quarter of 2020, 

after expanding at an annual rate of 0.9 percent in the 

previous quarter.

Recent Developments in Household Net Worth and 

Domestic Nonfinancial Debt

Household Net Worth and Growth of Domestic Nonfinancial Debt

Year

Household 

net worth1

Growth of domestic nonfinancial debt2

Total Households Businesses

Federal 

government

State and 

local gov’ts

2010 66,427 4.5 -0.4 -0.7 18.5 3.0

2011 67,686 3.7 0.1 2.5 10.8 -1.0

2012 72,854 4.6 0.5 5.4 10.1 -0.3

2013 81,622 4.1 2.3 4.7 6.7 -0.3

2014 87,704 3.8 1.2 6.7 5.4 -2.5

2015 90,797 4.4 2.2 7.1 5.0 0.4

2016 96,109 4.4 3.1 5.4 5.6 1.1

2017 105,099 4.2 3.8 6.2 3.7 0.0

2018 105,764 4.7 3.3 4.2 7.6 -1.6

2019 118,577 4.7 3.3 4.8 6.7 0.3

2018: Q2 107,482 4.3 3.5 3.3 6.7 0.2

Q3 109,451 3.8 3.5 4.5 4.4 -1.2

Q4 105,764 3.4 2.7 4.6 4.1 -2.7

2019: Q1 111,812 5.9 2.2 6.8 9.6 -0.6

Q2 113,956 3.5 4.0 4.3 3.1 -1.8

Q3 115,049 5.9 3.3 6.0 8.9 0.9

Q4 118,577 3.3 3.4 1.9 4.5 2.9

2020: Q1 111,348 10.6 3.8 18.4 11.4 0.9

Q2 118,955 25.3 0.5 14.0 58.9 3.5

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

 seasonally adjusted.

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

 adjusted level, shown at an annual rate.
ii
iii

Topic Description

Nonfinancial debt data visualizations New data visualizations are available showing debt owed by 

households and nonprofit organizations, federal government 

and nonfinancial business sectors, with additional detail on the 

components of nonfinancial business debt.

Other financial business sector 

funding, credit and liquidity facility 

special purpose vehicles

In response to the COVID-19 pandemic, the Federal Reserve 

System established five funding, credit, and liquidity facilities 

as special purpose vehicles (SPVs): the Corporate Credit 

Facilities (CCF), the Main Street Lending Program (MSLP), the 

Term Assets Lending Facility (TALF), the Municipal Liquidity 

Facility (MLF), and the Commercial Paper Funding Facility 

(CPFF). In the Financial Accounts of the United States, and 

consistent with System of National Accounts (SNA 2008) 

guidelines, these five SPVs are not consolidated in the 

monetary authority sector, but are instead treated as separate 

institutional units, included in the other financial business 

sector (tables F.132 and L.132). This treatment differs from the 

Federal Reserve H.4.1 release, which consolidates the SPVs 

on the Federal Reserve balance sheet. The SPVs were initially 

funded by Treasury equity investments to cover potential 

losses. Eighty-five percent was initially invested in 

nonmarketable Treasury securities and fifteen percent in cash 

deposits at the monetary authority. The SPVs make loans and 

asset purchases with additional borrowings from the monetary 

authority. 

Federal government sector equity 

investments in economic recovery 

programs 

In response to the COVID-19 pandemic, Treasury made equity 

investments in the five funding, credit and liquidity facility 

SPVs mentioned above (CCF, MSLP, TALF, MLF, and CPFF) 

and the Money Market Mutual Fund Liquidity Facility (MMLF). 

The equity investments are shown as identified miscellaneous 

assets of the federal government (tables F.106 and L.106), 

identified miscellaneous liabilities of the other financial 

business sector for the CCF, MSLP, TALF, MLF, and CPFF 

(tables F.132 and L.132), and the monetary authority sector for 

the MMLF (table F.109 and L.109). 

Monetary authority sector loans to 

funding, credit and liquidity facility 

special purpose vehicles

The monetary authority sector (tables F.109 and L.109) has

been modified to include loans made to the five new funding, 

credit and liquidity facility SPVs (CCF, MSLP, TALF, MLF, and 

CPFF) classified in the other financial business sector (tables 

F.132 and L.132). 

Paycheck Protection Program 

Liquidity Facility loans

The monetary authority sector (tables F.109 and L.109) has 

been modified to include loans made under the Paycheck 

Protection Program Liquidity Facility (PPPLF) to depository 

institutions, and finance companies.

Paycheck Protection Program loans Paycheck Protection Program (PPP) loans made to small 

businesses and nonprofit institutions impacted by the COVID19 pandemic are not shown separately from other types of 

loans reported by lenders. PPP loans, the majority of which 

are made by U.S.-chartered depository institutions, are 

included in depository institutions loans not elsewhere 

classified (tables F.215 and L.215). PPP loans made by nondepository institutions are included in the other loans and 

advances (tables F.216 and L.216). 

Release Highlights

Second Quarter 2020
iv

Topic Description

Paycheck Protection Program loan 

forgiveness payables and receivables

Paycheck Protection Program (PPP) payable liabilities and 

receivable assets were added to the Financial Accounts trade 

receivables (tables F.225 and L.225) in order to align with the 

National Income and Product Accounts (NIPA) accrual 

treatment of PPP loan forgiveness subsidies to businesses 

and current transfers to nonprofit institutions serving 

households (NPISH) (see https://www.bea.gov/help/faq/1408

and https://www.bea.gov/recovery). PPP payable liabilities 

were added to the federal government sector to account for 

the accrued liability to repay PPP loans in future periods, and 

are equal to loan forgiveness subsidies to businesses and 

current transfers to NPISH reported in NIPA. PPP receivable 

assets were added to household and nonprofit organizations, 

nonfinancial corporate business, nonfinancial noncorporate 

business, and finance companies sectors.

Balance sheet of domestic hedge 

funds supplementary table

A new balance sheet of domestic hedge funds (table B.101.f) 

was added showing assets and liabilities of U.S. domiciled 

hedge funds. Quarterly data are derived from aggregated 

Securities and Exchange Commission forms PF and ADV. 

Data begin 2012:Q4.

Fixed asset supplementary tables Four new fixed assets tables were added: Gross fixed 

investment (table F.4.g), Consumption of fixed capital (table 

F.4.c), Net fixed investment (table F.4.f), and Net stocks of 

fixed assets at current cost (table L.4.s). Aggregate data 

reported from BEA; financial subsector data estimated by FRB 

staff.

State and local government employee 

defined benefit retirement funds

State and local government employee defined benefit 

retirement funds (tables F.120.b and L.120.b) have been 

revised to incorporate methodology changes to the Census 

Quarterly Survey of Public Pensions from 2018:Q3 forward.

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

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

revised 2016:Q1 forward to reflect updated 2016 data and new 

data for plan year 2017 from U.S. Internal Revenue 

Service/Department of Labor/Pension Benefit Guaranty 

Corporation Form 5500.

National Income and Product 

Accounts annual update

The statistics in this publication reflect the 2020 annual update 

of the National Income and Product Accounts (NIPAs) 

released by the Bureau of Economic Analysis (BEA) on July 

30, 2020, as well as information for 2020:Q2 released by BEA 

on August 27, 2020. See the September 2020 issue of the 

Survey of Current Business at https://apps.bea.gov/scb/ for 

details on the 2020 annual update. 

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

sectors have been revised beginning in 2015 to reflect 

updated annual estimates of fixed assets from BEA.

Rest of the world sector The rest of the world sector (tables F.133 and L.133) has been 

revised from 2017:Q1 forward to reflect new data from BEA for 

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

international investment positions accounts. BEA's changes 

are detailed in the July 2020 issue of the Survey of Current 

Business.
v

Topic Description

Seasonal adjustment Seasonal factors for quarterly transactions have been 

recalculated from 2010:Q1 forward. Seasonal factors are 

generated using the X-13-ARIMA seasonal adjustment 

program from the U.S. Census Bureau. Seasonal factors on 

marketable Treasury security issuance and purchases were 

set to zero in 2020:Q1 and 2020:Q2 in light of unusual activity 

in response to the COVID-19 pandemic and the extension of 

the tax filing deadline.
vi
vii

Financial Accounts of the United States

The Statistical Release Z.1, Financial Accounts of the 

United States, or Financial Accounts, is organized into 

the following sections:

■ Matrices summarizing transactions and levels 

across sectors and tables on debt growth, net 

national wealth, gross domestic product (GDP), 

national income, saving, and so on

■ Transactions of financial assets and liabilities, 

by sector and by financial instrument 

■ Levels of financial assets and liabilities, by 

sector and by financial instrument

■ Balance sheets, including nonfinancial assets, 

and changes in net worth for households and 

nonprofit organizations, nonfinancial corporate 

businesses, and nonfinancial noncorporate 

businesses

Supplementary tables including balance sheets 

for the household sector, nonprofit organization 

sector, the household and nonprofit 

organization sector with additional equity and 

debt detail, and domestic hedge funds, as well 

as tables detailing stocks and flows of fixed 

assets

■ Integrated Macroeconomic Accounts (IMA)

The IMA relate production, income, saving, and capital 

formation from the Bureau of Economic Analysis’s 

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

changes in net worth from the Financial Accounts on a 

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

the Federal Reserve Board and BEA and are based on 

international guidelines and terminology as defined in 

the System of National Accounts (SNA2008).

Federal Reserve Board staff have taken many steps over 

the past several years to conform the Financial Accounts

with the SNA2008 guidelines. Nonetheless, a few 

important differences remain, in particular, the 

following in the Financial Accounts:

■ The purchase of consumer durables is treated as 

investment rather than as consumption.

■ Nonfinancial noncorporate businesses (which 

are often small businesses) are shown in a 

separate sector rather than being included in the 

household sector.

■ Some debt securities are recorded at book value 

rather than market value.

Concepts of Levels and Transactions in 

the SNA and the Financial Accounts

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

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

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

Financial Accounts, the levels are reported as of the end 

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

the level from one period to the next is called the 

economic flow, and can be decomposed into three broad 

elements: transactions, which measure the exchange of 

assets; revaluations, which measure holding gains and 

losses; and other changes in volume, which measure 

discontinuities or breaks in time series due to disaster 

losses or a change in source data or definition. In 

practice, other volume changes are relatively rare, and 

revaluations occur mainly for series carried at market 

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

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

level is equal to the transactions element.

Growth Rates

Growth rates calculated from levels include revaluations 

and other changes in volume. In order to isolate the 

effect of transactions on the growth of a given asset or 

liability, users should calculate the ratio of transactions

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

Growth rates in table D.1 are calculated by dividing 

transactions at a seasonally adjusted annual rate from 

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

previous period from table D.3. Growth rates calculated 

from changes in unadjusted levels may differ from those 

in table D.1.

Seasonal Adjustment

Seasonal factors are recalculated and updated every 

September with the release of second-quarter data. 

Series that exhibit significant seasonal patterns are 

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

Census Bureau, estimated using the most recent 10 years 

of transaction data. Because the effects of the recent 

financial crisis resulted in distortions in the estimated 

seasonal factors for some series, seasonal factors for 

these series have been extrapolated using pre-crisis data.

Seasonally adjusted levels shown in table D.3 are 

derived by carrying forward year-end levels by 

seasonally adjusted transactions.

Explanatory Notes
viii

Data Revisions 

Data shown for the most recent quarters are based on 

preliminary and potentially incomplete information. A 

summary list of the most recent data available for each 

sector is provided in a table following these notes. 

Nonetheless, when source data are revised or estimation 

methods are improved, all data are subject to revision.

There is no specific revision schedule; rather, data are 

revised on an ongoing basis. In each release of the 

Financial Accounts, major revisions are highlighted at 

the beginning of the publication.

Discrepancies 

The data in the Financial Accounts come from a large 

variety of sources and are subject to limitations and 

uncertainty due to measurement errors, missing 

information, and incompatibilities among data sources.

The size of this uncertainty cannot be quantified, but its 

existence is acknowledged by the inclusion of 

“statistical discrepancies” for various sectors and 

financial instruments.

The discrepancy for a given sector is defined as the 

difference between the aggregate value of the sector’s 

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

Sources of funds are gross savings less net capital 

transfers paid and net increase in liabilities; uses of 

funds are capital expenditures and the net acquisition of 

financial assets. If a sector’s sources of funds are greater 

than its uses of funds, the sector is a net lender of funds 

in the accounts. In the reverse case, the sector would be 

a net borrower of funds. Most of the data for deriving 

gross savings come from the BEA’s NIPA. For a 

financial instrument category, the discrepancy is defined 

as the difference between the measurement of funds 

raised through the financial instrument and funds 

disbursed through that instrument. The relative size of 

the statistical discrepancy is one indication of the quality 

of the underlying source data. Note that differences in 

seasonal adjustment procedures sometimes result in 

quarterly discrepancies that partially or completely 

offset each other in the annual data.

Financial Accounts Guide 

Substantially more detail on the construction of the 

Financial Accounts is available in the Financial 

Accounts Guide, which provides interactive, online 

documentation for each data series. The tools and 

descriptions in the guide are designed to help users 

understand the structure and content of the Financial 

Accounts.

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

according to a unique string of patterned numbers and 

letters. The series structure page of the guide provides a 

breakdown of what the letters and numbers represent in 

the series mnemonics. Some data submissions to 

international organizations are also available in the 

guide. The guide is updated with the quarterly release 

and is available online:

www.federalreserve.gov/apps/fof

Enhanced Financial Accounts and Data 

Visualization 

Additional supplementary information is available 

online in the Enhanced Financial Accounts, which 

augment the Financial Accounts with finer detail, 

additional types of activities, higher-frequency data, and 

more-disaggregated data. Links to the Enhanced 

Financial Accounts are available from both the 

Financial Accounts Guide page and the main release 

page. In addition, interactive online data visualizations

are available for selected components of the Financial 

Accounts and Enhanced Financial Accounts. Links are 

available also on the same pages.

Production Schedule 

The Financial Accounts are published four times per 

year, about 10 weeks following the end of each calendar 

quarter. The publication is available online:

www.federalreserve.gov/releases/Z1

This website also provides CSV files of quarterly data 

for transactions at a seasonally adjusted annual rate, 

unadjusted transactions, levels outstanding, balance 

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

In addition, the data are available as customizable

datasets through the Federal Reserve Board’s Data 

Download Program online:

www.federalreserve.gov/datadownload/default.htm

Print Subscription Information 

The Federal Reserve Board charges a fee for 

subscriptions to print versions of statistical releases.

Inquiries regarding print versions should be directed to 

the following office:

Publications Services, Stop 127

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue, N.W.

Washington, DC 20551

(202) 452-3245
ix

Sector Table Available at time of publication

National income and product 

accounts (NIPA) 

(various tables) 

Second estimate, seasonally adjusted, for 2020:Q2. Corporate 

profits through 2020:Q2 (preliminary). Government receipts and 

expenditures unadjusted transactions from 1952:Q1 forward. 

GDP and income unadjusted transactions from 2002:Q1 

forward. Many BEA series are downloaded via Haver Analytics. 

Households and nonprofit

organizations sector

(tables F.101 and L.101)

Estimates for this sector are largely residuals and are derived 

from data for other sectors. Data for consumer credit, which are 

estimated directly, are available through 2020:Q2. Internal 

Revenue Service Statistics of Income (IRS/SOI) data for private 

foundations and Section 501(c)(3-9) nonprofit organizations are 

available through 2016 (table B.101.n). Data on hedge funds 

from SEC forms PF and ADV through 2020:Q1 (table B.101.f).

Nonfinancial corporate business 

(tables F.103 and L.103)

Quarterly Financial Report (QFR) of the Census Bureau through 

2020:Q2; IRS/SOI data through 2018. Securities offerings, 

mortgages, bank loans, commercial paper, and other loans 

through 2020:Q2. Corporate farm data through 2019; USDA 

forecast through 2020:Q2.

Nonfinancial noncorporate business

(tables F.104 and L.104)

IRS/SOI data through 2017; bank and finance company loans, 

and mortgage borrowing through 2020:Q2. Noncorporate farm 

data through 2019; USDA forecast through 2020:Q2.

Federal government

(tables F.106 and L.106)

Data from the Monthly Treasury Statement of Receipts and 

Outlays and Monthly Statement of the Public Debt, and loan 

programs through 2020:Q2.

State and local governments

(tables F.107 and L.107)

Gross offerings and retirements of municipal securities, deposits 

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

MMF shares through 2020:Q2. Data for total financial assets 

from Census Bureau through 2017:Q2. Additional financial asset 

detail from comprehensive annual financial reports of state and 

local governments through 2011:Q2.

Monetary authority

(tables F.109 and L.109)

All data through 2020:Q2.

U.S.-chartered depository 

institutions

(tables F.111 and L.111)

All data through 2020:Q2.

Foreign banking offices in U.S.

(tables F.112 and L.112)

All data through 2020:Q2.

Banks in U.S.-affiliated areas

(tables F.113 and L.113)

All data through 2020:Q2.

Credit unions

(tables F.114 and L.114)

All data through 2020:Q2.

Property-casualty insurance 

companies

(tables F.115 and L.115)

All data through 2020:Q2.

Description of Most Recent Data Available
x

Sector Table Available at time of publication

Life insurance companies

(tables F.116 and L.116)

All data through 2020:Q2.

Private pension funds

(tables F.118 and L.118)

Internal Revenue Service/Department of Labor Form 5500 data 

through 2018. Investment Company Institute data through 

2020:Q1. BEA annual actuarial liability data through 2019:Q4.

Federal government retirement 

funds

(tables F.119 and L.119)

Data from the Monthly Treasury Statement of Receipts and 

Outlays, the Thrift Savings Plan, and the National Railroad 

Retirement Investment Trust through 2020:Q1. BEA annual 

actuarial liability data through 2019:Q4.

State and local government 

employee retirement funds

(tables F.120 and L.120)

Detailed annual survey data through 2019:Q2 and quarterly 

survey data through 2020:Q1 from the Census Bureau. 

Investment Company Institute data through 2020:Q1. BEA 

annual actuarial liability data through 2019:Q4.

Money market funds

(tables F.121 and L.121)

All data through 2020:Q2.

Mutual funds

(tables F.122 and L.122)

All data through 2020:Q2.

Closed-end funds

(tables F.123 and L.123)

All data through 2020:Q2.

Exchange-traded funds

(tables F.124 and L.124)

All data through 2020:Q2.

Government-sponsored enterprises 

(GSEs)

(tables F.125 and L.125)

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

Mac, FCS, FHLB through 2020:Q2.

Agency- and GSE-backed 

mortgage pools

(tables F.126 and L.126)

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

Mae through 2020:Q2.

Issuers of asset-backed securities 

(ABS)

(tables F.127 and L.127)

All data for private mortgage pools, consumer credit, business 

loans, student loans, consumer leases, and trade credit 

securitization through 2020:Q2.

Finance companies

(tables F.128 and L.128)

All data through 2020:Q2.

Real estate investment trusts 

(REITs)

(tables F.129 and L.129)

All data through 2020:Q2.

Security brokers and dealers

(tables F.130 and L.130)

FOCUS and FOGS reports through 2020:Q2.

Holding companies

(table F.131 and L.131)

All data through 2020:Q2.

Other financial business

(tables F.132 and L.132)

Estimates for this sector are largely residuals and are derived 

from data for other sectors.

Rest of the world

(tables F.133 and L.133)

NIPA estimates, depository institutions’ Call Reports, and 

Treasury International Capital System through 2020:Q2. 

International transaction accounts through 2020:Q2 and 

international investment position through 2020:Q1.
xi

Title Table Page

Summaries

Financial Accounts Matrix—Transactions 1

Financial Accounts Matrix—Levels 3

Debt Growth by Sector D.1 5

Borrowing by Sector D.2 6

Debt Outstanding by Sector D.3 7

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

Distribution of Gross Domestic Product F.2 9

Distribution of National Income F.3 10

Saving and Investment F.4 11

Net Capital Transfers F.5 12

Derivation of Measures of Personal Saving F.6 13

Assets and Liabilities of the Personal Sector L.6 14

Title

Transactions Levels

Table Page Table Page

Sectors

Domestic Nonfinancial F.100 15 L.100 77

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

Nonfinancial Business F.102 17 L.102 79

Nonfinancial Corporate Business F.103 18 L.103 80

Nonfinancial Noncorporate Business F.104 19 L.104 81

General Government F.105 20 L.105 82

Federal Government F.106 21 L.106 83

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

Domestic Financial F.108 23 L.108 85

Monetary Authority F.109 24 L.109 86

Private Depository Institutions F.110 25 L.110 87

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

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

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

Credit Unions F.114 29 L.114 90

List of Data Tables
xii

Sectors

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

Life Insurance Companies F.116 30 L.116 92

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

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

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

Private Pension Funds F.118 33 L.118 95

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

Private Pension Funds: Defined Contribution 

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

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

Federal Government Employee Retirement 

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

Federal Government Employee Retirement 

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

State and Local Government Employee Retirement 

Funds F.120 37 L.120 99

State and Local Government Employee 

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

State and Local Government Employee 

Retirement Funds: Defined Contribution 

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

Money Market Funds F.121 39 L.121 101

Mutual Funds F.122 39 L.122 101

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

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

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

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

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

Finance Companies F.128 43 L.128 105

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

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

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

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

Holding Companies F.131 47 L.131 109

Other Financial Business F.132 48 L.132 110

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

Instruments

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

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 50 L.201 112

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

Net Interbank Transactions F.203 51 L.203 113

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

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

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

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

Debt Securities F.208 55 L.208 117

Open Market Paper F.209 56 L.209 118

Treasury Securities F.210 57 L.210 119

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

Municipal Securities F.212 59 L.212 121

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

Loans F.214 61 L.214 123

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

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

Total Mortgages F.217 64 L.217 126

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

Multifamily Residential Mortgages F.219 65 L.219 127

Commercial Mortgages F.220 66 L.220 128

Farm Mortgages F.221 66 L.221 128

Consumer Credit F.222 67 L.222 129

Corporate Equities F.223 68 L.223 130

Mutual Fund Shares F.224 68 L.224 130

Trade Credit F.225 69 L.225 131

Life Insurance Reserves F.226 69 L.226 131

Pension Entitlements F.227 70 L.227 132

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

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

Direct Investment F.230 71 L.230 133
xiv

Instruments

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

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

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

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

Sector Discrepancies F.7 76

Instrument Discrepancies F.8 76

Title

Balance Sheet Change in Net Worth

Table Page Table Page

Balance Sheet and Change in Net Worth

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

Nonfinancial Corporate Business B.103 139 R.103 142

Nonfinancial Noncorporate Business B.104 140 R.104 143

Title Table Page

Supplementary Tables

Balance Sheet of Households B.101.h 144

Balance Sheet of Nonprofit Organizations B.101.n 145

Balance Sheet of Households and Nonprofit Organizations with Debt and Equity

Holdings Detail B.101.e 146

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

Gross Fixed Investment F.4.g 148

Consumption of Fixed Capital F.4.c 149

Net Fixed Investment F.4.f 150

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

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy—Current Account S.1.a 152

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

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

Nonfinancial Noncorporate Business S.4.a 158

Nonfinancial Corporate Business S.5.a 161

Financial Business S.6.a 164

Central Bank S.61.a 167

 Private Depository Institutions S.62.a 169

 Insurance Companies S.63.a 172

 Pension Funds S.64.a 175

 Other Financial Business S.65.a 178

Federal Government S.7.a 181

State and Local Governments S.8.a 184

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

1

Z.1, September 21, 2020 Financial Accounts Matrix--Transactions for 2019

(Billions of dollars; seasonally adjusted)

Households State Domestic Domestic Instrument

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

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

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

1 Gross saving less net cap. transfers -- 3235.4 -- 2455.0 -- -816.2 -- 159.5 -- 5033.7 -- 370.7 -- 509.4 -- 5913.8 -- 2 Capital consumption -- 1756.2 -- 1985.8 -- 294.8 -- 293.5 -- 4330.3 -- 247.8 -- -- -- 4578.1 -- 3 Net saving (1 less 2) -- 1479.2 -- 469.2 -- -1111.0 -- -134.0 -- 703.4 -- 122.9 -- 509.4 -- 1335.7 -- 4 Gross investment (5 plus 11) 4093.9 -- 1987.1 -- -788.6 -- 139.8 -- 5432.1 -- 459.9 -- 213.9 -- 6105.8 -- -192.05 Capital expenditures 2292.2 -- 2577.7 -- 319.1 -- 447.8 -- 5636.7 -- 295.1 -- -0.1 -- 5931.8 -- -18.06 Consumer durables 1427.7 -- -- -- -- -- -- -- 1427.7 -- -- -- -- -- 1427.7 -- -- 7 Residential 668.4 -- 131.6 -- -0.2 -- 5.3 -- 805.1 -- 7.1 -- -- -- 812.2 -- -- 8 Nonresidential 209.6 -- 2397.4 -- 322.1 -- 425.6 -- 3354.7 -- 288.0 -- -- -- 3642.7 -- -- 9 Inventory change -- -- 49.1 -- -- -- -- -- 49.1 -- -- -- -- -- 49.1 -- -- 10 Nonproduced nonfinancial assets -13.6 -- -0.4 -- -2.7 -- 16.8 -- 0.1 -- -- -- -0.1 -- -- -- -- 11 Net lending (+) or net borrowing (-) 1801.7 -- -590.6 -- -1107.8 -- -308.0 -- -204.6 -- 164.7 -- 213.9 -- 174.0 -- -174.012 Net acquisition of financial assets 2318.2 -- 1118.7 -- 84.2 -- 51.9 -- 3573.0 -- 3341.9 -- 581.1 -- 7496.0 -- -- 13 Net increase in liabilities and equity -- 516.5 -- 1709.2 -- 1191.9 -- 360.0 -- 3777.6 -- 3177.1 -- 367.2 -- 7321.9 -- 14 U.S. official reserve assets -- -- -- -- 4.6 0.0 -- -- 4.6 0.0 0.1 -- 0.0 4.7 4.7 4.7 -- 15 SDR certificates -- -- -- -- -- 0.0 -- -- -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- 0.0 -- -- -- 0.0 0.3 -- -- -- 0.3 0.0 -0.317 Foreign deposits -1.0 -- 10.3 -- -- -- -- -- 9.3 -- 5.8 -- -- 62.2 15.1 62.2 47.118 Interbank claims -- -- -- -- -- -- -- -- -- -- -5.6 -100.0 -84.0 -- -89.6 -100.0 -10.419 Checkable dep. and currency 19.2 -- 105.4 -- 1.0 -- 6.2 -- 131.9 -- 71.9 261.4 57.6 -- 261.4 261.4 -0.020 Time and savings deposits 530.8 -- 75.7 -- 0.3 -- 19.8 -- 626.4 -- 62.4 683.4 -5.5 -- 683.4 683.4 -- 21 Money market fund shares 408.3 -- 98.8 -- -- -- 6.8 -- 513.9 -- 63.2 596.0 18.8 -- 596.0 596.0 -- 22 Fed. funds and security repos -- -- -2.4 -- -- -- 3.2 -- 0.9 -- 582.9 224.9 11.6 109.1 595.4 334.0 -261.423 Debt securities 385.8 -3.2 73.1 259.7 0.0 1174.9 -20.3 8.9 438.6 1440.3 1160.9 444.7 444.3 158.8 2043.8 2043.8 -- 24 Open market paper -- -- 83.1 -1.9 -- -- 1.5 -- 84.6 -1.9 -40.9 -33.2 5.5 84.4 49.3 49.3 -- 25 Treasury securities 267.3 -- -7.3 -- -- 1176.6 -0.8 -- 259.2 1176.6 691.7 -- 225.7 -- 1176.6 1176.6 -- 26 Agency- and GSE-backed sec. 105.4 -- -2.8 -- 0.0 -1.7 -6.6 -- 96.0 -1.7 165.7 319.5 56.1 -- 317.8 317.8 -- 27 Municipal securities -51.4 -3.2 0.0 14.2 -- -- -0.4 8.9 -51.7 19.9 67.7 -- 4.0 -- 19.9 19.9 -- 28 Corporate and fgn. bonds 64.5 -- -- 247.4 0.0 -- -14.1 -- 50.4 247.4 276.7 158.4 153.1 74.3 480.2 480.2 -- 29 Loans 8.0 510.1 3.3 486.9 93.6 15.8 5.2 1.0 110.1 1013.8 830.1 -68.1 97.5 91.9 1037.7 1037.7 -- 30 Depository inst. loans n.e.c. -- 7.8 -- 49.6 -- -- -- -- -- 57.3 142.2 0.1 -- 84.8 142.2 142.2 -- 31 Other loans and advances 22.3 24.9 -- 136.6 10.0 15.8 -- 1.0 32.2 178.4 -14.7 -70.6 97.5 7.1 115.0 115.0 -- 32 Mortgages -10.6 295.0 3.3 300.7 0.6 0.0 5.2 -- -1.5 595.7 599.6 2.4 -- -- 598.1 598.1 -- 33 Consumer credit -3.6 182.4 0.0 -- 83.0 -- -- -- 79.4 182.4 103.1 -- -- -- 182.4 182.4 -- 34 Corporate equities 84.3 -- 0.2 -453.2 0.0 -- -3.4 -- 81.1 -453.2 -308.2 209.6 -207.7 -191.3 -434.9 -434.9 -- 35 Mutual fund shares 378.2 -- 5.0 -- -- -- 1.2 -- 384.4 -- -121.0 208.2 -55.2 -- 208.2 208.2 -- 36 Trade credit 7.6 8.1 134.8 144.9 -1.4 17.0 10.1 49.4 151.2 219.4 13.7 15.1 18.6 2.0 183.5 236.5 53.037 Life insurance reserves 16.7 -- -- -- -- 0.9 -- -- 16.7 0.9 17.4 31.7 0.3 1.8 34.4 34.4 -- 38 Pension entitlements 419.2 -- -- -- -- -- -- -- 419.2 -- 7.7 424.4 0.6 3.1 427.5 427.5 -- 39 Taxes payable -- -- -- -10.0 -20.9 -- 5.5 -- -15.4 -10.0 -- 12.9 -- -- -15.4 2.9 18.340 Equity in noncorp. business 19.3 -- -- 14.1 -- -- -- -- 19.3 14.1 -- 5.2 -- -- 19.3 19.3 -- 41 U.S. direct investment abroad -- -- 77.5 -- -- -- -- -- 77.5 -- 41.4 -- -- 118.9 118.9 118.9 -- 42 Foreign direct investment in U.S. -- -- -- 253.3 -- -- -- -- -- 253.3 -- 28.7 282.1 -- 282.1 282.1 -- 43 Miscellaneous 41.8 1.5 536.9 1013.6 7.0 -16.7 17.7 300.6 603.4 1299.0 918.7 198.9 2.0 5.9 1524.1 1503.8 -20.344 Sector discrepancies (1 less 4) -858.5 -- 467.9 -- -27.6 -- 19.7 -- -398.4 -- -89.2 -- 295.5 -- -192.0 -- -192.0General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

2

Z.1, September 21, 2020 Financial Accounts Matrix--Transactions

Households State Domestic Domestic Instrument

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

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

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

1 Gross saving less net cap. transfers -- 156000105 -- 146000105 -- 316000105 -- 216000105 -- 386000105 -- 796000105 -- 266000105 -- 896000105 -- 2 Capital consumption -- 156300005 -- 146300005 -- 316300001 -- 216300001 -- 386300005 -- 796300005 -- -- -- 886300005 -- 3 Net saving (1 less 2) -- 156006305 -- 146006305 -- 316006305 -- 216006305 -- 386006305 -- 796006305 -- 266000105 -- 896006305 -- 4 Gross investment (5 plus 11) 155090005 -- 145090005 -- 315090005 -- 215090005 -- 385090005 -- 795090005 -- 265090005 -- 895090005 -- 9070050055 Capital expenditures 155050005 -- 145050005 -- 315050005 -- 215050005 -- 385050005 -- 795019005 -- 265420005 -- 895050005 -- 9060001056 Consumer durables 155111003 -- -- -- -- -- -- -- 155111003 -- -- -- -- -- 155111003 -- -- 7 Residential 155012005 -- 145012005 -- 315012065 -- 215012063 -- 385012005 -- 125012063 -- -- -- 885012005 -- -- 8 Nonresidential 165013005 -- 145013005 -- 315013005 -- 215013005 -- 385013005 -- 795013005 -- -- -- 885013005 -- -- 9 Inventory change -- -- 145020005 -- -- -- -- -- 145020005 -- -- -- -- -- 145020005 -- -- 10 Nonproduced nonfinancial assets 155420003 -- 105420005 -- 315420003 -- 215420003 -- 385420005 -- -- -- 265420005 -- -- -- -- 11 Net lending (+) or net borrowing (-) 155000005 -- 145000005 -- 315000005 -- 215000005 -- 385000005 -- 795000005 -- 265000005 -- 895000005 -- 90500000512 Net acquisition of financial assets 154090005 -- 144090005 -- 314090005 -- 214090005 -- 384090005 -- 794090005 -- 264090005 -- 894090005 -- -- 13 Net increase in liabilities and equity -- 154190005 -- 144194005 -- 314190005 -- 214190005 -- 384190005 -- 794190005 -- 264190005 -- 894190005 -- 14 U.S. official reserve assets -- -- -- -- 313011005 313111303 -- -- 313011005 313111303 713011005 -- 263011005 263111005 893011005 893111005 -- 15 SDR certificates -- -- -- -- -- 713014003 -- -- -- 713014003 713014003 -- -- -- 713014003 713014003 -- 16 Treasury currency -- -- -- -- -- 313112003 -- -- -- 313112003 713012003 -- -- -- 713012003 313112003 90301200517 Foreign deposits 153091003 -- 103091003 -- -- -- -- -- 383091005 -- 633091003 -- -- 263191005 893091005 263191005 90309100518 Interbank claims -- -- -- -- -- -- -- -- -- -- 794010005 794110005 264016005 -- 894010005 794110005 90401000519 Checkable dep. and currency 153020005 -- 143020005 -- 313020005 -- 213020005 -- 383020005 -- 793020005 793120005 263020005 -- 893020005 793120005 90302000520 Time and savings deposits 153030005 -- 143030005 -- 313030003 -- 213030000 -- 383030005 -- 793030005 703130005 263030005 -- 703130005 703130005 -- 21 Money market fund shares 153034005 -- 143034005 -- -- -- 213034003 -- 383034005 -- 793034005 634090005 263034003 -- 634090005 634090005 -- 22 Fed. funds and security repos -- -- 102051003 -- -- -- 212051003 -- 382051005 -- 792050005 792150005 262051005 262151003 892050005 892150005 90205000523 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894122005 894122005 -- 24 Open market paper -- -- 103069100 103169100 -- -- 213069103 -- 383069105 103169100 793069175 793169175 263069103 263169105 893169175 893169175 -- 25 Treasury securities 153061105 -- 143061105 -- -- 313161105 213061105 -- 383061105 313161105 793061105 -- 263061105 -- 313161105 313161105 -- 26 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893161705 893161705 -- 27 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 383162005 383162005 -- 28 Corporate and fgn. bonds 153063005 -- -- 103163003 313063763 -- 213063003 -- 383063005 103163003 793063005 793163005 263063005 263163005 893063005 893163005 -- 29 Loans 154023005 154123005 144023005 144123005 314023005 314123005 213065005 213169203 384023005 384123005 794023005 794123005 263069500 264123005 894123005 894123005 -- 30 Depository inst. loans n.e.c. -- 153168005 -- 143168005 -- -- -- -- -- 383168005 793068005 793168005 -- 263168005 793068005 793068005 -- 31 Other loans and advances 153069005 153169005 -- 143169005 313069005 313169003 -- 213169203 383069005 383169005 793069005 793169005 263069500 263169005 893169005 893169005 -- 32 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 123165005 -- -- 893065005 893065005 -- 33 Consumer credit 163066223 153166000 143066005 -- 313066220 -- -- -- 383066005 153166000 793066005 -- -- -- 153166000 153166000 -- 34 Corporate equities 153064105 -- 103064103 103164103 313064105 -- 213064103 -- 383064105 103164103 793064105 793164105 263064105 263164100 893064105 893064105 -- 35 Mutual fund shares 153064205 -- 103064203 -- -- -- 213064203 -- 383064205 -- 793064205 653164205 263064203 -- 653164205 653164205 -- 36 Trade credit 163070005 163170005 143070005 143170005 313070000 313170005 213070003 213170003 383070005 383170005 793070005 793170005 263070005 263170005 893070005 893170005 90307000537 Life insurance reserves 153040005 -- -- -- -- 313140003 -- -- 153040005 313140003 793040005 543140005 543141905 263140005 893140005 893140005 -- 38 Pension entitlements 153050005 -- -- -- -- -- -- -- 153050005 -- 543050005 583150005 543151905 263150005 893150005 893150005 -- 39 Taxes payable -- -- -- 143178005 313078000 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 90307800540 Equity in noncorp. business 152090205 -- -- 112090205 -- -- -- -- 152090205 112090205 -- 662090003 -- -- 152090205 152090205 -- 41 U.S. direct investment abroad -- -- 103092005 -- -- -- -- -- 103092005 -- 793092005 -- -- 263192005 263192005 263192005 -- 42 Foreign direct investment in U.S. -- -- -- 143192005 -- -- -- -- -- 143192005 -- 793192005 263092001 -- 263092001 263092001 -- 43 Miscellaneous 153090005 543077073 143090005 143190005 313090005 313190005 213093003 223073045 383090005 383190005 793090005 793190005 263076005 263190005 893090005 893190005 90309000544 Sector discrepancies (1 less 4) 157005005 -- 107005005 -- 317005005 -- 217005005 -- 387005005 -- 797005005 -- 267005005 -- 897005005 -- 907005005General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

3

Z.1, September 21, 2020 Financial Accounts Matrix--Levels for 2019

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

Households State Domestic Domestic Instrument

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

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

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

1 Total financial assets 95027.8 -- 27091.5 -- 2881.0 -- 3257.2 -- 128257.4 -- 107902.6 -- 34766.3 -- 270926.3 -- -3068.72 Total liabilities and equity -- 16377.4 -- 85102.2 -- 21470.5 -- 8389.3 -- 131339.3 -- 112275.0 -- 24243.3 -- 267857.6 -- 3 Total liabilities -- 16377.4 -- 38780.8 -- 21470.5 -- 8389.3 -- 85017.9 -- 100732.8 -- 14784.2 -- 200535.0 -- 4 U.S. official reserve assets -- -- -- -- 97.8 48.8 -- -- 97.8 48.8 31.6 -- 48.8 118.3 178.2 167.1 -11.05 SDR certificates -- -- -- -- -- 5.2 -- -- -- 5.2 5.2 -- -- -- 5.2 5.2 -- 6 Treasury currency -- -- -- -- -- 25.3 -- -- -- 25.3 50.1 -- -- -- 50.1 25.3 -24.77 Foreign deposits 41.0 -- 116.6 -- -- -- -- -- 157.6 -- 7.4 -- -- 794.4 165.0 794.4 629.48 Interbank claims -- -- -- -- -- -- -- -- -- -- 1631.7 1710.9 122.8 -- 1754.5 1710.9 -43.69 Checkable dep. and currency 1230.1 -- 1621.3 -- 407.2 -- 139.1 -- 3397.6 -- 459.9 4845.1 985.6 -- 4843.2 4845.1 1.910 Time and savings deposits 10164.0 -- 1341.2 -- 2.3 -- 423.2 -- 11930.6 -- 356.9 12884.0 596.4 -- 12884.0 12884.0 -- 11 Money market fund shares 2204.3 -- 672.6 -- -- -- 26.5 -- 2903.4 -- 601.4 3634.3 129.5 -- 3634.3 3634.3 -- 12 Fed. Funds and security repos -- -- 12.2 -- -- -- 154.2 -- 166.4 -- 3883.0 3205.8 1055.3 1221.2 5104.8 4427.0 -677.813 Debt securities 5801.1 213.2 414.6 6554.6 0.5 19039.9 1503.9 3070.8 7720.2 28878.5 28688.8 14709.1 12070.9 3804.5 48479.8 47392.0 -1087.814 Open market paper -- -- 245.2 194.5 -- -- 73.1 -- 318.4 194.5 596.5 397.9 130.3 452.8 1045.2 1045.2 -- 15 Treasury securities 2080.8 -- 127.1 -- -- 19018.7 740.3 -- 2948.2 19018.7 9786.9 -- 6690.8 -- 19426.0 19018.7 -407.316 Agency- and GSE-backed sec. 736.1 -- 16.0 -- 0.0 21.2 479.7 -- 1231.8 21.2 7214.6 9409.5 1182.1 -- 9628.5 9430.7 -197.817 Municipal securities 1900.3 213.2 26.3 576.9 -- -- 15.7 3070.8 1942.3 3860.8 2105.7 -- 103.7 -- 4151.7 3860.8 -290.918 Corporate and fgn. bonds 1083.9 -- -- 5783.2 0.5 -- 195.1 -- 1279.4 5783.2 8985.0 4901.7 3964.0 3351.7 14228.4 14036.5 -191.919 Loans 890.1 15754.6 128.9 9663.2 1674.0 15.8 241.8 21.1 2934.8 25454.7 24333.9 1955.6 830.8 689.2 28099.5 28099.5 -- 20 Depository inst. loans n.e.c. -- 344.8 -- 2531.1 -- -- -- -- -- 2875.8 3818.0 310.7 -- 631.5 3818.0 3818.0 -- 21 Other loans and advances 804.4 495.9 -- 2082.0 231.0 15.8 -- 21.1 1035.4 2614.8 2226.4 1420.0 830.8 57.7 4092.5 4092.5 -- 22 Mortgages 58.0 10733.3 89.2 5050.2 123.8 0.0 241.8 -- 512.9 15783.5 15495.5 224.9 -- -- 16008.4 16008.4 -- 23 Consumer credit 27.7 4180.6 39.6 -- 1319.2 -- -- -- 1386.5 4180.6 2794.0 -- -- -- 4180.6 4180.6 -- 24 Corporate equities 21287.4 -- 2308.7 34066.5 33.2 -- 173.2 -- 23802.4 34066.5 22985.0 11458.7 8196.8 9459.1 54984.2 54984.2 -- 25 Mutual fund shares 10038.6 -- 327.3 -- -- -- 91.5 -- 10457.5 -- 6308.2 17659.5 893.9 -- 17659.5 17659.5 -- 26 Trade credit 269.7 373.1 4510.1 3502.6 74.1 382.2 245.2 1051.1 5099.0 5309.1 335.2 295.2 349.0 81.4 5783.2 5685.7 -97.427 Life insurance reserves 1731.3 -- -- -- -- 52.2 -- -- 1731.3 52.2 500.9 2122.4 10.7 68.3 2242.9 2242.9 -- 28 Pension entitlements 27745.0 -- -- -- -- -- -- -- 27745.0 -- 199.5 27879.7 16.0 80.8 27960.5 27960.5 -- 29 Taxes payable -- -- -- 400.2 376.2 -- 165.4 -- 541.6 400.2 -- 172.5 -- -- 541.6 572.8 31.230 Equity in noncorp. business 12338.4 -- -- 12254.9 -- -- -- -- 12338.4 12254.9 -- 83.5 -- -- 12338.4 12338.4 -- 31 U.S. direct investment abroad -- -- 6514.5 -- -- -- -- -- 6514.5 -- 1135.5 -- -- 7650.0 7650.0 7650.0 -- 32 Foreign direct investment in U.S. -- -- -- 8177.3 -- -- -- -- -- 8177.3 -- 1221.1 9398.4 -- 9398.4 9398.4 -- 33 Miscellaneous 1286.9 36.5 9123.6 10482.8 215.7 1901.0 93.2 4246.3 10719.5 16666.7 16388.3 8437.6 61.3 276.1 27169.1 25380.4 -1788.8General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24) and equity in noncorporate business (line 30). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
Summary

4 Z.1, September 21, 2020 Financial Accounts Matrix--Levels

Households State Domestic Domestic Instrument

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

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

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

1 Total financial assets 154090005 -- 144090005 -- 314090005 -- 214090005 -- 384090005 -- 794090005 -- 264090005 -- 894090005 -- 9070050152 Total liabilities and equity -- 154190005 -- 144194005 -- 314190005 -- 214190005 -- 384194005 -- 794194005 -- 264194005 -- 894194005 -- 3 Total liabilities -- 154190005 -- 144190005 -- 314190005 -- 214190005 -- 384190005 -- 794190005 -- 264190005 -- 894190005 -- 4 U.S. official reserve assets -- -- -- -- 313011005 313111303 -- -- 313011005 313111303 713011005 -- 263011005 263111005 893011005 893111005 9030110055 SDR certificates -- -- -- -- -- 713014003 -- -- -- 713014003 713014003 -- -- -- 713014003 713014003 -- 6 Treasury currency -- -- -- -- -- 313112003 -- -- -- 313112003 713012003 -- -- -- 713012003 313112003 9030120057 Foreign deposits 153091003 -- 103091003 -- -- -- -- -- 383091005 -- 633091003 -- -- 263191005 893091005 263191005 9030910058 Interbank claims -- -- -- -- -- -- -- -- -- -- 794010005 794110005 264016005 -- 894010005 794110005 9040100059 Checkable dep. and currency 153020005 -- 143020005 -- 313020005 -- 213020005 -- 383020005 -- 793020005 793120005 263020005 -- 893020005 793120005 90302000510 Time and savings deposits 153030005 -- 143030005 -- 313030003 -- 213030000 -- 383030005 -- 793030005 703130005 263030005 -- 703130005 703130005 -- 11 Money market fund shares 153034005 -- 143034005 -- -- -- 213034003 -- 383034005 -- 793034005 634090005 263034003 -- 634090005 634090005 -- 12 Fed. Funds and security repos -- -- 102051003 -- -- -- 212051003 -- 382051005 -- 792050005 792150005 262051005 262151003 892050005 892150005 90205000513 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894022005 894122005 90402200514 Open market paper -- -- 103069100 103169100 -- -- 213069103 -- 383069105 103169100 793069175 793169175 263069103 263169105 893169175 893169175 -- 15 Treasury securities 153061105 -- 143061105 -- -- 313161105 213061105 -- 383061105 313161105 793061105 -- 263061105 -- 893061105 313161105 90306110316 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893061705 893161705 90306170317 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 893062005 383162005 90306200318 Corporate and fgn. bonds 153063005 -- -- 103163003 313063763 -- 213063003 -- 383063005 103163003 793063005 793163005 263063005 263163005 893063005 893163005 90306300319 Loans 154023005 154123005 144023005 144123005 314023005 314123005 213065005 213169203 384023005 384123005 794023005 794123005 263069500 264123005 894123005 894123005 -- 20 Depository inst. loans n.e.c. -- 153168005 -- 143168005 -- -- -- -- -- 383168005 793068005 793168005 -- 263168005 793068005 793068005 -- 21 Other loans and advances 153069005 153169005 -- 143169005 313069005 313169003 -- 213169203 383069005 383169005 793069005 793169005 263069500 263169005 893169005 893169005 -- 22 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 123165005 -- -- 893065005 893065005 -- 23 Consumer credit 163066223 153166000 143066005 -- 313066220 -- -- -- 383066005 153166000 793066005 -- -- -- 153166000 153166000 -- 24 Corporate equities 153064105 -- 103064103 103164103 313064105 -- 213064103 -- 383064105 103164103 793064105 793164105 263064105 263164100 893064105 893064105 -- 25 Mutual fund shares 153064205 -- 103064203 -- -- -- 213064203 -- 383064205 -- 793064205 653164205 263064203 -- 653164205 653164205 -- 26 Trade credit 163070005 163170005 143070005 143170005 313070000 313170005 213070003 213170003 383070005 383170005 793070005 793170005 263070005 263170005 893070005 893170005 90307000527 Life insurance reserves 153040005 -- -- -- -- 313140003 -- -- 153040005 313140003 793040005 543140005 543141905 263140005 893140005 893140005 -- 28 Pension entitlements 153050005 -- -- -- -- -- -- -- 153050005 -- 543050005 583150005 543151905 263150005 893150005 893150005 -- 29 Taxes payable -- -- -- 143178005 313078000 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 90307800530 Equity in noncorp. business 152090205 -- -- 112090205 -- -- -- -- 152090205 112090205 -- 662090003 -- -- 152090205 152090205 -- 31 U.S. direct investment abroad -- -- 103092005 -- -- -- -- -- 103092005 -- 793092005 -- -- 263192005 263192005 263192005 -- 32 Foreign direct investment in U.S. -- -- -- 143192005 -- -- -- -- -- 143192005 -- 793192005 263092001 -- 263092001 263092001 -- 33 Miscellaneous 153090005 543077073 143090005 143190005 313090005 313190005 213093003 223073045 383090005 383190005 793090005 793190005 263076005 263190005 893090005 893190005 903090005General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24) and equity in noncorporate business (line 30). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
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D.1 Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest

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

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

 FG384104005 FG154104005 FG153165105 FG153166000 FG144104005 FG104104005 FG314104005 FG214104005 FG794104005 FG264104005

1980 9.62 8.77 10.91 0.97 9.88 8.16 11.89 6.90 15.26 12.47

1981 10.23 7.16 7.23 5.54 12.87 13.59 11.76 8.02 17.21 24.34

1982 10.17 5.62 4.75 4.98 9.23 9.17 19.10 11.21 13.42 18.24

1983 12.13 11.37 10.20 12.14 9.17 8.36 18.48 11.44 13.05 3.84

1984 14.75 12.62 11.43 18.37 16.07 16.61 16.84 11.39 17.69 11.46

1985 16.09 16.75 14.61 15.95 10.98 12.64 17.75 31.85 21.08 1.74

1986 11.96 11.36 13.75 9.14 11.41 13.81 13.93 10.94 24.93 3.18

1987 8.98 9.68 13.44 4.85 7.76 8.81 8.68 12.03 15.63 3.52

1988 9.20 9.78 11.79 6.67 9.96 10.99 8.61 5.98 12.88 0.36

1989 7.49 9.37 10.94 6.30 6.27 7.30 7.63 5.31 10.14 -0.28

1990 6.56 6.81 8.85 1.87 3.63 5.38 10.99 5.00 8.58 5.06

1991 4.74 5.64 7.01 -1.07 -2.13 -2.10 11.18 9.23 6.78 2.74

1992 4.67 5.19 6.49 1.13 -0.31 0.60 10.92 1.53 8.11 4.50

1993 5.76 6.07 5.51 7.44 3.06 5.23 8.40 5.29 11.32 15.67

1994 5.18 7.49 5.56 15.23 5.40 7.10 5.11 -3.95 13.52 -2.99

1995 4.88 6.93 4.86 14.39 5.89 6.62 4.38 -5.49 11.86 15.90

1996 5.21 7.05 6.18 9.05 5.44 5.23 4.60 -1.96 13.03 14.19

1997 5.55 6.55 6.11 5.52 8.48 8.59 1.46 4.95 12.07 10.36

1998 6.76 8.09 8.08 7.22 11.69 11.08 -0.26 6.20 19.54 4.93

1999 6.66 9.36 9.35 7.80 10.31 9.38 -0.68 3.26 16.71 2.77

2000 4.74 8.82 8.65 11.36 8.88 7.96 -6.30 1.43 11.70 7.36

2001 5.69 8.60 10.55 8.65 4.62 3.01 1.35 8.80 11.05 -1.26

2002 6.69 9.73 13.26 5.56 2.29 0.10 6.81 11.09 8.63 7.51

2003 7.76 12.33 14.49 5.30 0.91 -0.21 9.50 8.32 11.16 1.73

2004 9.17 11.56 13.44 5.57 5.94 3.47 8.31 11.61 9.46 7.99

2005 8.79 10.82 13.76 4.52 8.10 5.40 6.61 6.66 9.01 7.82

2006 8.54 10.55 11.19 5.18 10.08 7.75 3.92 4.39 10.43 21.42

2007 8.17 7.14 7.20 6.11 12.57 11.74 4.66 6.22 13.65 15.44

2008 5.75 -0.03 0.74 1.31 5.72 3.99 21.44 1.44 4.54 -10.39

2009 3.68 0.45 0.87 -3.58 -3.89 -4.85 20.41 4.72 -9.65 14.53

2010 4.46 -0.38 -1.50 -1.10 -0.74 -0.93 18.53 2.99 -4.07 9.53

2011 3.68 0.14 -0.59 4.14 2.53 5.14 10.82 -0.96 -2.59 7.23

2012 4.64 0.55 -1.09 5.76 5.39 5.93 10.12 -0.30 -0.63 8.43

2013 4.12 2.29 -0.12 6.10 4.66 5.84 6.67 -0.26 1.38 9.49

2014 3.77 1.22 -0.05 7.15 6.70 6.63 5.37 -2.53 1.90 8.64

2015 4.37 2.25 1.27 7.10 7.06 7.89 5.02 0.37 1.23 0.98

2016 4.43 3.09 2.05 6.79 5.39 3.73 5.56 1.07 3.03 1.19

2017 4.23 3.80 2.93 5.31 6.24 4.50 3.74 0.00 2.08 12.07

2018 4.68 3.27 2.92 4.76 4.17 3.03 7.58 -1.59 2.18 5.12

2019 4.73 3.28 2.80 4.56 4.83 4.75 6.67 0.32 2.31 6.26

2016 -- Q1 5.95 2.17 1.16 7.09 8.70 9.09 8.08 1.34 5.42 -4.58

 Q2 4.68 3.56 2.18 6.68 4.05 1.70 6.70 2.34 3.48 2.02

 Q3 4.81 4.03 2.46 6.70 6.14 5.15 5.16 0.95 3.66 -1.15

 Q4 2.03 2.49 2.34 6.02 2.27 -1.15 1.87 -0.35 -0.53 8.13

2017 -- Q1 3.59 3.57 3.33 5.34 6.14 4.45 2.58 -2.22 2.68 9.45

 Q2 4.87 4.01 2.72 5.18 6.66 5.32 5.15 -0.50 2.38 7.92

 Q3 4.29 2.35 2.55 3.62 6.50 5.15 5.03 -0.45 3.08 12.05

 Q4 3.90 5.09 3.01 6.70 5.00 2.70 2.00 3.20 0.14 15.80

2018 -- Q1 6.75 3.17 2.72 3.88 3.78 3.55 14.36 -2.75 1.74 10.07

 Q2 4.32 3.52 3.15 4.19 3.28 1.26 6.66 0.24 2.13 4.30

 Q3 3.85 3.53 3.23 5.48 4.52 5.20 4.44 -1.20 2.08 5.61

 Q4 3.44 2.72 2.45 5.16 4.65 1.75 4.10 -2.67 2.70 0.31

2019 -- Q1 5.93 2.18 2.39 4.61 6.79 8.00 9.56 -0.65 2.18 -3.18

 Q2 3.45 4.02 3.02 4.38 4.29 4.27 3.15 -1.83 2.70 10.09

 Q3 5.89 3.31 3.23 4.85 5.96 6.36 8.86 0.88 3.27 6.88

 Q4 3.33 3.45 2.46 4.11 1.94 0.08 4.49 2.89 1.02 9.76

2020 -- Q1 10.65 3.78 3.38 0.99 18.43 23.57 11.38 0.85 24.13 -8.66

 Q2 25.27 0.46 3.01 -6.57 14.02 13.13 58.86 3.47 -7.98 5.16

1. Debt securities and loans. Data shown are on an end-of-period basis.
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6 Z.1, September 21, 2020

D.2 Borrowing by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest 

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

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

 FA384104005 FA154104005 FA153165105 FA153166000 FA144104005 FA104104005 FA314104005 FA214104005 FA794104005 FA264104005

1980 354.9 113.7 90.2 3.4 132.7 69.5 86.3 22.2 82.1 19.4

1981 414.4 101.6 67.0 19.8 189.7 125.0 95.5 27.6 106.7 42.8

1982 454.0 85.8 47.4 18.8 153.1 95.3 173.4 41.7 97.1 40.6

1983 594.6 181.7 105.2 48.2 165.8 94.5 199.8 47.3 107.5 10.3

1984 811.0 222.0 127.6 81.7 320.8 207.1 215.7 52.5 164.7 30.4

1985 1015.2 331.4 181.7 84.0 254.7 184.3 265.6 163.6 232.8 5.0

1986 877.9 264.6 199.4 55.8 293.6 226.4 245.5 74.2 333.7 9.2

1987 737.8 250.8 221.6 32.3 222.3 164.3 174.2 90.4 263.1 10.6

1988 821.8 273.9 215.6 46.6 309.6 225.5 187.9 50.4 252.3 1.1

1989 730.9 288.9 224.9 47.0 213.7 165.3 180.9 47.4 224.1 -1.0

1990 688.9 229.3 200.0 15.1 132.3 132.0 280.2 47.1 211.3 17.9

1991 531.9 204.5 174.5 -8.8 -80.4 -54.2 316.6 91.2 181.5 10.1

1992 548.1 199.1 173.0 9.2 -11.3 15.2 343.8 16.5 231.8 16.9

1993 708.5 244.8 156.5 61.4 112.6 133.2 293.2 57.9 351.8 62.0

1994 674.0 320.6 166.8 135.0 205.5 191.0 193.5 -45.5 468.4 -14.5

1995 668.5 318.7 154.0 147.0 236.5 191.1 174.2 -60.8 467.4 75.3

1996 749.5 346.7 205.2 105.7 232.2 161.8 191.1 -20.5 574.6 85.5

1997 840.4 345.5 216.1 70.3 380.7 278.8 63.4 50.8 601.8 71.4

1998 1079.5 454.9 303.2 97.1 569.2 390.2 -11.4 66.8 1088.0 37.6

1999 1136.6 568.8 379.4 112.4 560.6 366.8 -30.1 37.3 1112.3 22.3

2000 863.2 585.8 383.5 176.5 535.5 343.1 -275.0 16.9 908.6 57.2

2001 1086.6 622.5 508.2 150.6 303.4 139.9 55.2 105.5 958.4 -10.5

2002 1348.4 765.2 706.2 105.2 156.6 4.8 282.1 144.6 836.5 62.3

2003 1668.8 1063.7 874.1 105.9 63.8 -10.1 420.7 120.5 1174.9 16.3

2004 2128.2 1122.5 929.4 117.2 420.8 166.0 402.8 182.2 1090.7 91.4

2005 2297.6 1174.9 1081.3 100.4 610.5 268.7 346.9 165.4 1138.6 98.9

2006 2426.0 1269.7 1000.3 120.1 820.7 406.3 219.1 116.4 1431.2 283.9

2007 2521.0 951.4 715.5 150.2 1127.0 663.7 270.4 172.2 2064.3 251.7

2008 1918.4 -4.2 79.1 34.3 577.8 252.2 1302.5 42.2 785.2 -203.6

2009 1294.6 63.5 92.5 -94.6 -415.3 -318.4 1505.8 140.6 -1736.8 227.0

2010 1611.3 -53.0 -156.2 -28.2 -75.1 -57.3 1645.9 93.4 -674.2 187.7

2011 1380.6 19.5 -58.6 109.6 253.3 311.6 1138.7 -30.9 -401.5 162.5

2012 1799.8 75.0 -107.0 158.8 553.7 377.8 1180.6 -9.4 -94.3 208.3

2013 1663.6 311.2 -11.8 177.7 503.3 393.8 857.3 -8.2 204.9 268.3

2014 1581.1 168.4 -4.9 221.0 756.9 472.2 735.9 -80.1 285.2 256.8

2015 1899.6 312.4 119.5 235.0 851.0 599.5 724.6 11.6 188.0 32.2

2016 2004.3 435.1 194.2 230.1 693.3 304.9 842.7 33.2 462.3 38.3

2017 1995.0 550.5 283.0 192.3 845.9 381.6 598.6 0.0 326.3 399.7

2018 2305.8 491.1 289.3 181.5 606.3 272.7 1258.1 -49.7 348.0 198.9

2019 2454.1 506.9 285.6 182.4 746.5 456.0 1190.7 9.9 376.7 250.7

2016 -- Q1 2690.5 305.1 110.4 240.4 1119.1 743.1 1224.6 41.6 825.1 -148.1

 Q2 2144.8 502.7 206.9 230.4 532.9 142.0 1036.5 72.7 537.3 66.5

 Q3 2231.0 574.1 235.0 234.9 815.5 432.3 811.8 29.7 569.9 -38.6

 Q4 951.0 358.4 224.5 214.8 306.0 -97.6 297.7 -11.1 -83.2 273.6

2017 -- Q1 1693.4 516.2 321.8 193.3 833.0 377.1 413.8 -69.6 420.2 313.0

 Q2 2320.2 584.8 265.1 190.0 921.7 459.1 829.2 -15.5 374.7 272.8

 Q3 2067.5 346.2 249.4 134.5 913.9 450.7 821.4 -14.0 487.8 429.0

 Q4 1899.0 754.6 295.9 251.4 714.8 239.4 330.3 99.3 22.5 584.2

2018 -- Q1 3324.5 475.9 270.1 148.0 549.4 319.3 2385.4 -86.2 277.3 391.7

 Q2 2165.8 532.2 314.4 161.4 481.2 114.1 1144.9 7.6 341.4 170.6

 Q3 1961.8 538.1 324.4 212.8 684.1 490.5 777.0 -37.4 335.6 220.9

 Q4 1771.1 418.1 248.3 203.8 710.7 167.0 725.1 -82.8 437.8 12.4

2019 -- Q1 3075.9 337.3 243.9 184.1 1051.2 768.0 1707.4 -19.9 355.4 -127.4

 Q2 1818.9 625.5 309.2 177.2 674.3 418.3 575.3 -56.3 442.3 410.0

 Q3 3127.5 519.2 333.5 198.4 947.1 629.3 1634.0 27.1 539.3 293.2

 Q4 1794.2 545.7 255.8 169.9 313.5 8.4 846.1 88.9 169.7 427.0

2020 -- Q1 5786.4 604.0 353.0 41.2 2988.4 2369.0 2167.7 26.4 4020.5 -389.3

 Q2 14096.7 74.8 317.1 -275.9 2379.1 1398.2 11535.3 107.6 -1409.9 220.2

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

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest

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

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

 LA384104005 LA154104005 LA153165105 LA153166000 LA144104005 LA104104005 LA314104005 LA214104005 LA794104005 LA264104005

1980 4051.5 1420.2 926.5 358.0 1474.7 919.6 812.2 344.4 620.2 175.8

1981 4464.7 1526.6 998.3 377.9 1658.5 1038.7 907.7 372.1 723.6 222.5

1982 4900.3 1597.9 1031.2 396.7 1807.6 1129.9 1081.0 413.8 823.4 267.2

1983 5497.7 1759.6 1116.4 444.9 1996.2 1247.2 1280.8 461.1 931.1 265.0

1984 6308.4 1977.7 1243.3 526.6 2320.6 1458.0 1496.5 513.6 1104.5 287.3

1985 7341.7 2329.8 1450.2 610.6 2572.0 1638.9 1762.0 677.9 1338.2 290.1

1986 8216.7 2592.3 1649.0 666.4 2864.7 1864.5 2007.5 752.1 1683.4 300.2

1987 8936.1 2802.0 1828.6 698.6 3109.8 2051.5 2181.7 842.6 1958.9 310.4

1988 9753.9 3084.2 2054.8 745.2 3407.1 2265.2 2369.6 893.0 2211.2 351.9

1989 10501.9 3365.6 2260.1 809.3 3645.4 2455.2 2550.5 940.4 2463.8 354.8

1990 11218.1 3624.0 2489.3 824.4 3775.9 2585.4 2830.8 987.4 2678.3 368.7

1991 11746.7 3832.1 2667.4 815.6 3688.6 2526.6 3147.4 1078.6 2859.8 375.5

1992 12298.0 4031.2 2840.4 824.8 3680.5 2545.0 3491.1 1095.1 3107.2 395.5

1993 13021.3 4278.4 2999.2 886.2 3805.5 2690.7 3784.3 1153.0 3464.3 484.8

1994 13701.7 4599.0 3165.9 1021.2 4017.3 2888.0 3977.8 1107.5 3940.8 473.4

1995 14386.1 4917.7 3319.9 1168.2 4269.6 3095.0 4152.0 1046.7 4411.1 602.5

1996 15135.9 5277.2 3538.1 1273.9 4489.4 3244.3 4343.1 1026.2 4985.7 689.1

1997 15974.2 5622.7 3754.2 1344.2 4868.0 3521.0 4406.5 1076.9 5567.4 763.6

1998 17053.6 6077.6 4057.4 1441.3 5437.2 3911.2 4395.1 1143.8 6655.4 806.0

1999 18222.3 6644.0 4434.5 1553.6 6032.2 4312.4 4365.0 1181.0 7765.4 776.7

2000 19095.4 7239.7 4816.8 1741.3 6567.8 4655.5 4090.0 1197.9 8675.1 837.1

2001 20165.0 7862.2 5324.9 1891.8 6854.2 4778.5 4145.2 1303.4 9689.4 829.5

2002 21513.5 8627.4 6031.1 1997.0 7010.9 4783.3 4427.3 1447.9 10525.8 944.5

2003 23214.5 9709.3 6914.9 2102.9 7088.8 4787.3 4848.0 1568.4 11536.0 1144.4

2004 26126.6 10857.0 7859.1 2220.1 7533.6 4977.3 5250.9 2485.1 12641.6 1265.4

2005 28411.2 12031.9 8940.4 2320.6 8144.0 5246.0 5584.8 2650.6 13725.7 1325.7

2006 30854.9 13317.2 9940.3 2456.7 8966.8 5653.4 5803.9 2767.0 15124.6 1630.2

2007 33352.6 14240.3 10625.0 2609.5 10098.7 6323.6 6074.3 2939.2 17299.5 1959.7

2008 35132.5 14109.4 10577.3 2643.8 10664.9 6570.8 7376.8 2981.4 18003.9 1562.1

2009 36108.3 13950.0 10441.1 2555.0 10153.6 6168.0 8882.6 3122.0 16549.3 1968.9

2010 37524.1 13763.0 9992.2 2646.8 10017.1 6062.5 10528.6 3215.4 15516.4 2247.7

2011 38749.3 13634.4 9785.5 2756.4 10263.2 6374.1 11667.3 3184.5 15036.1 2469.8

2012 40395.8 13568.9 9537.1 2913.2 10804.1 6743.7 12847.8 3175.1 14864.5 2827.9

2013 41954.9 13791.8 9437.1 3090.9 11291.1 7126.1 13705.1 3166.9 15013.5 2973.5

2014 43488.7 13915.2 9387.2 3311.9 12045.6 7598.8 14441.1 3086.8 15279.1 3284.8

2015 45204.6 14070.7 9492.9 3390.6 12869.9 8176.4 15165.6 3098.3 15236.6 3231.4

2016 47172.4 14475.8 9657.1 3620.8 13556.8 8476.8 16008.3 3131.6 15676.1 3311.7

2017 49277.9 15000.5 9914.4 3813.0 14538.8 8996.1 16606.9 3131.6 15965.9 3887.7

2018 51894.0 15476.7 10185.1 3998.1 15470.4 9595.3 17865.0 3081.9 16298.7 4003.4

2019 54333.1 15967.8 10454.9 4180.6 16217.8 10053.1 19055.7 3091.9 16664.7 4493.7

2016 -- Q1 45867.6 14138.0 9511.5 3450.7 13149.1 8362.2 15471.8 3108.7 15437.2 3287.5

 Q2 46395.7 14256.0 9555.5 3508.3 13281.8 8397.7 15730.9 3126.9 15564.0 3355.6

 Q3 46945.5 14392.0 9606.8 3567.1 13485.2 8505.7 15933.9 3134.3 15701.1 3363.6

 Q4 47172.4 14475.8 9657.1 3620.8 13556.8 8476.8 16008.3 3131.6 15676.1 3311.7

2017 -- Q1 47653.5 14598.2 9730.9 3669.1 13829.4 8635.8 16111.7 3114.2 15755.6 3445.0

 Q2 48225.6 14736.8 9789.6 3716.6 14059.4 8750.6 16319.0 3110.3 15845.2 3560.5

 Q3 48735.9 14817.3 9845.9 3750.2 14287.4 8863.3 16524.4 3106.8 15963.5 3697.8

 Q4 49277.9 15000.5 9914.4 3813.0 14538.8 8996.1 16606.9 3131.6 15965.9 3887.7

2018 -- Q1 50105.2 15116.0 9978.4 3850.0 14675.9 9075.9 17203.3 3110.1 16033.2 3963.4

 Q2 50963.9 15240.1 10052.0 3886.4 15122.4 9431.0 17489.5 3112.0 16111.6 3939.4

 Q3 51456.1 15376.7 10127.6 3947.2 15293.0 9553.6 17683.7 3102.6 16192.2 3987.4

 Q4 51894.0 15476.7 10185.1 3998.1 15470.4 9595.3 17865.0 3081.9 16298.7 4003.4

2019 -- Q1 52659.3 15555.8 10240.9 4044.2 15734.7 9789.1 18291.9 3077.0 16381.1 4065.2

 Q2 53110.1 15708.4 10314.5 4088.5 15903.1 9893.7 18435.7 3062.9 16492.3 4261.8

 Q3 53888.3 15834.9 10394.5 4138.1 16139.6 10051.0 18844.2 3069.6 16624.9 4377.4

 Q4 54333.1 15967.8 10454.9 4180.6 16217.8 10053.1 19055.7 3091.9 16664.7 4493.7

2020 -- Q1 55781.6 16120.8 10540.5 4195.6 16964.7 10645.3 19597.7 3098.5 17667.8 4268.0

 Q2 59303.6 16137.5 10617.7 4126.6 17559.3 10994.9 22481.5 3125.3 17313.7 4332.1

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

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL892090005 U.S. net wealth (1) 95673.3 93973.2 105614.1 99463.7 101545.7 102082.3 105614.1 95387.4 102455.5 1

 2 LM152010005 Households’ direct holdings of nonfinancial assets 35934.4 37849.3 39926.3 38625.6 39208.0 39624.9 39926.3 40403.5 40886.8 2

 3 LM155035005 Real estate 30039.9 31705.0 33526.7 32405.3 32913.6 33269.1 33526.7 33948.7 34406.4 3

 4 LM165015205 Equipment (nonprofits) 417.5 438.6 457.0 444.9 449.5 453.0 457.0 461.6 462.8 4

 5 LM165013765 Intellectual property products (nonprofits) 174.9 184.1 192.5 187.4 189.9 192.0 192.5 195.0 198.1 5

 6 LM155111005 Consumer durable goods 5302.1 5521.7 5750.1 5588.0 5655.0 5710.9 5750.1 5798.2 5819.5 6

 7 LM112010005 Nonfin. noncorporate businesses nonfinancial assets 13536.9 14107.7 14919.9 14319.2 14623.5 14854.7 14919.9 14986.2 15004.1 7

 8 LM115035005 Real estate 12231.7 12673.0 13209.5 12873.4 13164.9 13195.9 13209.5 13182.0 13212.8 8

 9 LM115015205 Equipment 827.8 863.5 884.2 872.4 877.7 880.8 884.2 893.0 896.9 9

 10 LM115013765 Intellectual property products 259.1 273.9 289.9 277.9 282.5 286.4 289.9 290.6 292.3 10

 11 LM115020005 Inventories 259.7 262.0 258.7 267.9 258.1 249.2 258.7 244.4 236.5 11

 12 LM662090003 Fin. noncorporate businesses nonfinancial assets (2) 68.7 78.2 83.5 78.4 78.4 80.6 83.5 84.8 88.5 12

 13 LM883164105 Market value of domestic corporations (3) 39104.7 36074.3 45525.1 40896.0 42177.3 42353.2 45525.1 35474.2 43474.1 13

 14 LM103164103 Nonfinancial corporate equity 29075.4 26826.8 34066.5 30769.7 31561.6 31659.4 34066.5 26883.4 33506.7 14

 15 LM793164105 Financial corporate equity 10029.3 9247.5 11458.7 10126.3 10615.6 10693.8 11458.7 8590.8 9967.4 15

 16 LM315015005 Federal government nonfinancial assets (4) 3406.5 3522.1 3604.2 3554.1 3568.1 3587.1 3604.2 3624.4 3640.7 16

 17 LM315015605 Structures 1583.2 1638.1 1662.5 1647.4 1655.9 1660.8 1662.5 1669.1 1664.9 17

 18 LM315013265 Equipment 762.8 790.2 811.6 796.9 796.6 802.3 811.6 815.6 819.8 18

 19 LM315013765 Intellectual property products 1060.4 1093.8 1130.1 1109.9 1115.7 1124.0 1130.1 1139.7 1155.9 19

 20 LM212010095 State and local governments nonfinancial assets (4) 10974.1 11606.1 12078.0 11693.5 11905.8 12013.6 12078.0 12175.7 12155.4 20

 21 LM215015605 Structures 10588.2 11201.9 11661.5 11284.4 11494.0 11598.6 11661.5 11757.8 11732.4 21

 22 LM215013265 Equipment 254.0 264.9 270.6 267.7 268.5 270.1 270.6 270.8 273.4 22

 23 LM215013765 Intellectual property products 131.9 139.3 145.9 141.4 143.3 144.9 145.9 147.1 149.6 23

 24 FL882090265 Net U.S. financial claims on the rest of the world -7352.0 -9264.5 -10523.0 -9703.1 -10015.4 -10431.8 -10523.0 -11361.4 -12794.1 24

 25 FL264194005 U.S. financial claims on the rest of the world 23061.6 20702.8 24243.3 22367.3 23020.3 23016.3 24243.3 20739.4 22670.8 25

 26 LM263164100 U.S. holdings of foreign corporate equities 9118.1 7899.6 9459.1 8687.2 8894.6 8720.9 9459.1 7361.2 8482.0 26

 27 FL264190005 Other U.S. financial claims 13943.5 12803.2 14784.2 13680.1 14125.8 14295.4 14784.2 13378.2 14188.8 27

 28 FL264090005 Less: Foreign financial claims on U.S. 30413.7 29967.3 34766.3 32070.4 33035.7 33448.1 34766.3 32100.9 35464.9 28

 29 LM263064105 Foreign holdings of U.S. corporate equities 7019.4 6629.5 8196.8 7243.4 7621.2 7618.3 8196.8 6714.7 8189.8 29

 30 FL264090035 Other foreign financial claims 23394.3 23337.8 26569.5 24827.0 25414.5 25829.8 26569.5 25386.2 27275.1 30

 Memo:

 31 FL892090005 A. U.S. net wealth (line 1) 95673.3 93973.2 105614.1 99463.7 101545.7 102082.3 105614.1 95387.4 102455.5 31

 32 FC892090005 Change in U.S. net wealth 10140.4 -1700.1 11640.9 5490.5 2082.0 536.6 3531.8 -10226.7 7068.1 32

 33 PC892090005 Percent change in U.S. net wealth 11.86 -1.78 12.39 5.84 2.09 0.53 3.46 -9.68 7.41 33

 34 FL152090005 B. Household net worth (5) 105099.3 105764.2 118576.7 111812.1 113956.2 115048.6 118576.7 111348.2 118955.3 34

 35 FC152090005 Change in household net worth 8990.6 665.0 12812.5 6047.8 2144.1 1092.5 3528.1 -7228.5 7607.1 35

 36 PC152090005 Percent change in household net worth 9.35 0.63 12.11 5.72 1.92 0.96 3.07 -6.10 6.83 36

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

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

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

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

 because of differences in the valuation of assets.

(4) Excludes land and nonproduced nonfinancial assets.

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA086902005 Gross domestic product (GDP) 19543.0 20611.9 21433.2 21115.3 21329.9 21540.3 21747.4 21561.1 19486.5 1

 2 FA156901001 Personal consumption expenditures (2) 13340.4 13993.3 14544.6 14276.6 14497.3 14645.3 14759.2 14545.5 13046.7 2

 3 FA155011001 Durable goods 1410.7 1481.6 1534.4 1494.5 1536.0 1552.8 1554.1 1496.4 1480.1 3

 4 FA156901035 Nondurable goods 2761.6 2890.3 2977.9 2920.7 2981.7 3000.8 3008.2 3056.5 2884.2 4

 5 FA156901041 Services 9168.1 9621.4 10032.4 9861.4 9979.6 10091.7 10196.8 9992.5 8682.4 5

 6 FA835019905 Gross private domestic investment 3351.1 3632.9 3751.2 3772.8 3739.7 3759.8 3732.6 3675.9 3134.2 6

 7 FA835019005 Fixed investment (3) 3334.8 3575.1 3702.1 3674.2 3686.6 3718.5 3729.2 3728.0 3432.1 7

 8 FA835013001 Nonresidential 2574.5 2776.7 2895.0 2878.4 2891.3 2908.0 2902.3 2859.3 2658.0 8

 9 FA165013005 Nonprofit organizations (4) 190.5 203.3 209.6 210.4 208.6 209.8 209.6 209.0 197.2 9

 10 FA105013005 Nonfinancial corporate business 1854.6 2010.3 2094.2 2084.7 2092.7 2102.5 2097.0 2066.9 1927.7 10

 11 FA115013005 Nonfinancial noncorporate business 273.7 290.5 303.1 298.4 303.0 305.9 305.2 303.7 291.9 11

 12 FA795013005 Financial institutions 255.6 272.6 288.0 284.9 287.1 289.8 290.4 279.8 241.2 12

 13 FA835012001 Residential 760.3 798.5 807.1 795.8 795.3 810.5 827.0 868.7 774.0 13

 14 FA155012005 Household sector 631.4 663.5 668.4 659.7 658.7 670.8 684.5 717.3 629.9 14

 15 FA105012005 Nonfinancial corporate business 11.4 6.6 3.3 2.8 5.0 2.5 2.9 7.7 21.8 15

 16 FA115012005 Nonfinancial noncorporate business 119.3 124.9 128.3 125.9 126.4 129.2 131.7 137.7 123.0 16

 17 FA125012063 REITs -1.7 3.5 7.1 7.3 5.2 8.0 8.0 5.9 -0.7 17

 18 FA145020005 Change in private inventories 16.3 57.7 49.1 98.6 53.1 41.3 3.4 -52.1 -297.9 18

 19 FA105020005 Nonfinancial corporate business 17.1 53.4 50.5 94.7 54.5 43.9 9.1 -42.4 -253.5 19

 20 FA115020005 Nonfinancial noncorporate business -0.7 4.4 -1.5 3.9 -1.5 -2.5 -5.7 -9.7 -44.4 20

 21 FA266903005 Net U.S. exports of goods and services -555.5 -609.5 -610.5 -615.5 -644.7 -631.8 -549.8 -494.3 -536.8 21

 22 FA266903011 Exports 2374.6 2528.7 2514.8 2523.5 2514.6 2505.2 2515.7 2438.7 1798.5 22

 23 FA266903001 - Imports 2930.1 3138.2 3125.2 3139.0 3159.4 3137.1 3065.4 2933.0 2335.3 23

 Government consumption expenditures and

 24 FA366902005 gross investment 3407.0 3595.2 3747.9 3681.5 3737.6 3767.1 3805.3 3834.1 3842.4 24

 25 FA366901005 Consumption expenditures (5) 2742.7 2891.3 2995.1 2950.8 2987.7 3009.2 3032.5 3046.0 3052.1 25

 26 FA316901001 Federal 985.1 1043.5 1097.3 1076.0 1094.9 1104.6 1113.7 1118.0 1167.6 26

 27 FA216901001 State and local 1757.6 1847.8 1897.8 1874.8 1892.8 1904.6 1918.8 1928.0 1884.6 27

 28 FA365019005 Gross investment (5) 664.3 703.9 752.8 730.7 749.9 757.9 772.8 788.1 790.3 28

 29 FA315019001 Federal 278.7 295.9 321.9 312.8 315.7 324.7 334.3 334.6 341.7 29

 30 FA215019001 State and local 385.6 407.9 431.0 417.9 434.2 433.2 438.5 453.6 448.6 30

 Memo:

 31 FA266904005 Net U.S. income receipts from rest of world 292.3 284.7 269.6 246.5 271.2 279.8 281.1 243.2 130.3 31

 32 FA266904001 U.S. income receipts 1032.7 1142.9 1169.8 1148.0 1184.3 1181.2 1165.9 1054.6 867.1 32

 33 FA266904101 - U.S. income payments 740.4 858.2 900.2 901.5 913.2 901.4 884.8 811.4 736.8 33

 Gross national product (GNP) =

 34 FA086902105 GDP + net U.S. income receipts 19835.3 20896.6 21702.9 21361.8 21601.0 21820.1 22028.5 21804.3 19616.8 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 FA155420003 Household sector -12.0 -13.2 -13.6 -13.4 -13.5 -13.7 -13.9 -14.9 -19.6 35

 36 FA105420005 Nonfinancial corporate business 0.1 -2.1 -0.4 3.3 -1.2 -1.4 -2.4 -3.1 -4.5 36

 37 FA315420003 Federal government -2.2 -0.8 -2.7 -6.4 -1.9 -1.8 -0.9 -0.5 -0.1 37

 38 FA215420003 State and local governments 14.2 16.2 16.8 16.6 16.7 16.9 17.2 18.4 24.2 38

 39 FA265420005 Rest of the world -0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.0 0.0 0.0 39

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA086010005 National income 16853.9 17689.6 18269.1 18032.7 18214.0 18301.8 18527.8 18405.5 16081.5 1

 2 FA156025105 Compensation of employees 10422.5 10950.1 11432.4 11335.3 11391.7 11438.0 11564.8 11674.4 10883.9 2

 3 FA156020101 Wages and salaries 8471.5 8894.2 9309.3 9228.7 9274.9 9311.3 9422.5 9526.1 8847.4 3

 4 FA156401101 Supplements to wages and salaries 1951.1 2055.9 2123.1 2106.6 2116.8 2126.6 2142.4 2148.3 2036.5 4

 5 FA146111105 Proprietors’ income with IVA and CCAdj 1509.0 1585.9 1657.7 1627.5 1628.5 1677.0 1697.7 1706.0 1507.6 5

 6 FA116112101 Rental income of persons with CCAdj 721.9 759.3 787.1 776.6 786.7 789.7 795.5 802.3 797.8 6

 7 FA096060035 Corporate profits with IVA and CCAdj 2114.5 2243.0 2250.5 2181.2 2263.2 2246.5 2311.3 2035.0 1808.2 7

 8 FA096060025 Corporate profits with IVA 2130.5 2132.0 2232.0 2154.9 2246.4 2231.7 2294.9 2053.5 1826.9 8

 9 FA096060005 Profits before tax 2183.2 2186.7 2237.3 2188.9 2243.8 2203.4 2313.1 1994.7 1774.2 9

 10 FA106060005 Domestic nonfinancial 1250.4 1255.9 1261.3 1244.4 1265.2 1222.2 1313.5 1076.8 913.3 10

 11 FA796060005 Domestic financial 435.6 418.2 470.5 460.1 472.3 466.7 482.9 444.7 484.1 11

 12 FA266060005 Rest of the world 497.2 512.5 505.4 484.4 506.2 514.5 516.6 473.1 376.9 12

 Less:

 13 FA096231001 Taxes on corporate income 311.3 282.9 298.7 294.6 304.9 283.0 312.3 255.6 238.9 13

 14 FA106231005 Domestic nonfinancial 224.2 196.4 212.4 212.5 219.7 195.6 221.7 184.8 156.2 14

 15 FA796231003 Domestic financial 87.1 86.4 86.3 82.0 85.2 87.4 90.7 70.7 82.7 15

 Equals:

 16 FA096060015 Profits after tax 1871.9 1903.8 1938.6 1894.4 1938.9 1920.3 2000.7 1739.1 1535.3 16

 17 FA096121073 Net dividends 1270.4 1390.1 1360.8 1369.3 1369.3 1348.5 1356.3 1379.5 1371.2 17

 18 FA106121075 Domestic nonfinancial 720.7 259.8 636.6 606.1 605.6 672.8 661.8 607.2 728.7 18

 19 FA796121073 Domestic financial 333.0 214.2 259.2 234.2 272.9 222.9 307.0 205.8 285.9 19

 20 FA266121073 Rest of the world 216.6 916.0 465.1 529.1 490.8 452.8 387.5 566.5 356.6 20

 21 FA096006401 Undistributed profits 601.5 513.7 577.7 525.0 569.6 571.9 644.5 359.6 164.1 21

 22 FA106006405 Domestic nonfinancial 305.5 799.7 412.4 425.8 439.9 353.8 430.1 284.8 28.4 22

 23 FA796006403 Domestic financial 15.4 117.5 124.9 143.9 114.2 156.4 85.3 168.2 115.4 23

 24 FA266006403 Rest of the world 280.6 -403.5 40.4 -44.7 15.4 61.8 129.1 -93.4 20.3 24

 25 FA105020601 Inventory valuation adjustment (IVA) -52.7 -54.7 -5.3 -34.0 2.6 28.4 -18.1 58.9 52.7 25

 26 FA096310003 Capital consumption adjustment (CCAdj) -16.0 111.0 18.5 26.3 16.8 14.7 16.3 -18.5 -18.8 26

 27 FA106310005 Domestic nonfinancial 1.6 105.1 27.0 32.2 25.3 24.7 25.8 -5.0 -5.4 27

 28 FA796310003 Domestic financial -17.6 5.9 -8.5 -6.0 -8.6 -9.9 -9.5 -13.5 -13.4 28

 29 FA086130003 Net interest and miscellaneous payments 636.4 619.1 573.4 564.4 572.3 571.0 586.0 588.9 600.9 29

 30 FA366240005 Taxes on production and imports 1364.0 1444.8 1491.4 1473.8 1480.7 1501.6 1509.6 1530.0 1432.5 30

 31 FA366402005 Less: Subsidies 59.9 63.3 73.9 71.3 61.1 82.0 81.1 75.1 1086.8 31

 32 FA146403005 Business current transfer payments (net) 150.7 156.6 158.0 152.1 159.7 168.1 152.0 156.8 160.3 32

 33 FA156403101 To persons (net) 48.8 47.4 47.2 47.7 47.5 47.1 46.5 45.9 50.6 33

 34 FA366403145 To government (net) 99.6 101.0 89.1 84.4 86.2 102.1 83.5 85.4 86.6 34

 35 FA266403101 To rest of the world (net) 2.2 8.2 21.7 19.9 26.0 18.9 22.1 25.6 23.1 35

 36 FA366402105 Current surplus of government enterprises -5.3 -5.8 -7.6 -6.9 -7.7 -8.0 -7.9 -12.8 -22.8 36

 Memo:

 Calculation of gross domestic product

 from National income:

 37 FA086010005 National Income, from line 1 above 16853.9 17689.6 18269.1 18032.7 18214.0 18301.8 18527.8 18405.5 16081.5 37

 Plus:

 38 FA836300005 Private consumption of fixed capital 2569.7 2699.0 2832.7 2781.3 2818.6 2851.9 2878.9 2908.7 2931.0 38

 39 FA366300005 Government consumption of fixed capital 543.2 566.1 588.3 580.3 585.8 591.4 595.6 600.3 604.2 39

 40 FA087005005 Statistical discrepancy -131.4 -58.0 12.8 -32.5 -17.4 75.0 26.2 -110.2 0.1 40

 Less:

 41 FA266904005 Net U.S. income receipts from rest of world 292.3 284.7 269.6 246.5 271.2 279.8 281.1 243.2 130.3 41

 Equals:

 42 FA086902005 Gross domestic product (2) 19543.0 20611.9 21433.2 21115.3 21329.9 21540.3 21747.4 21561.1 19486.5 42

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA886000115 Gross saving 3755.4 3927.0 3988.4 4003.9 3971.2 3934.9 4043.6 4150.8 3346.4 1

 2 FA896006005 Net saving 642.5 661.9 567.5 642.3 566.8 491.6 569.1 641.8 -188.8 2

 3 FA836006005 Net private saving 1603.8 1807.3 1822.2 1871.8 1775.0 1795.5 1846.4 1995.3 4953.8 3

 4 FA826006005 Domestic business 532.8 570.0 591.0 517.3 588.9 615.0 642.7 400.0 198.0 4

 5 FA106012005 Nonfinancial corporate business 495.4 506.5 468.0 444.9 469.6 475.6 482.1 425.5 379.1 5

 6 FA796012005 Financial business 37.4 63.4 122.9 72.4 119.3 139.4 160.6 -25.5 -181.0 6

 7 FA156006005 Households and institutions 1071.0 1237.3 1231.2 1354.5 1186.1 1180.6 1203.8 1595.3 4755.8 7

 8 FA366006005 Net government saving -961.3 -1145.4 -1254.7 -1229.5 -1208.2 -1303.9 -1277.3 -1353.5 -5142.6 8

 9 FA316006005 Federal -722.4 -931.7 -1047.0 -1016.0 -1033.0 -1084.1 -1054.9 -1150.8 -5659.1 9

 10 FA216006005 State and local -238.8 -213.7 -207.7 -213.5 -175.2 -219.8 -222.4 -202.7 516.5 10

 11 FA886300095 Consumption of fixed capital 3112.9 3265.0 3420.9 3361.6 3404.4 3443.3 3474.4 3509.0 3535.2 11

 12 FA836300005 Private 2569.7 2699.0 2832.7 2781.3 2818.6 2851.9 2878.9 2908.7 2931.0 12

 13 FA826300003 Domestic business 2031.8 2125.0 2233.6 2191.9 2223.7 2248.9 2269.9 2294.7 2311.8 13

 14 FA106300003 Nonfinancial corporate business 1489.3 1557.1 1639.2 1607.8 1632.1 1650.4 1666.6 1684.8 1697.3 14

 15 FA116300001 Nonfinancial noncorporate business 321.8 336.3 349.8 345.2 348.6 351.5 353.8 357.1 359.5 15

 16 FA796300081 Financial business 220.7 231.5 244.6 239.0 243.1 247.0 249.5 252.8 255.0 16

 17 FA156300003 Households and institutions 537.8 574.0 599.0 589.4 594.9 603.0 608.9 614.1 619.3 17

 18 FA366300005 Government 543.2 566.1 588.3 580.3 585.8 591.4 595.6 600.3 604.2 18

 19 FA316300001 Federal 277.0 285.8 294.8 292.1 293.1 295.8 298.3 300.5 303.6 19

 20 FA216300001 State and local 266.2 280.3 293.5 288.2 292.7 295.6 297.3 299.7 300.6 20

 Gross domestic investment, capital account

 21 FA885090015 transactions, and net lending, NIPAs 3623.9 3869.0 4001.2 3971.4 3953.8 4009.9 4069.8 4040.6 3346.6 21

 22 FA885019905 Gross domestic investment 4015.5 4336.8 4504.0 4503.5 4489.6 4517.7 4505.4 4464.0 3924.5 22

 23 FA835019905 Gross private domestic investment 3351.1 3632.9 3751.2 3772.8 3739.7 3759.8 3732.6 3675.9 3134.2 23

 24 FA825019905 Domestic business 2529.3 2766.1 2873.2 2902.7 2872.4 2879.2 2838.5 2749.5 2307.0 24

 25 FA105019985 Nonfinancial corporate business 1881.4 2073.8 2155.2 2188.2 2157.6 2157.3 2117.6 2043.2 1711.7 25

 26 FA115050085 Nonfinancial noncorporate business 392.3 419.7 430.0 429.6 427.7 432.1 430.5 426.5 354.1 26

 27 FA795013005 Financial business 255.6 272.6 288.0 284.9 287.1 289.8 290.4 279.8 241.2 27

 28 FA155019005 Households and institutions 821.8 866.8 878.0 870.1 867.3 880.6 894.1 926.3 827.2 28

 29 FA365019005 Gross government investment 664.3 703.9 752.8 730.7 749.9 757.9 772.8 788.1 790.3 29

 30 FA315019001 Federal 278.7 295.9 321.9 312.8 315.7 324.7 334.3 334.6 341.7 30

 31 FA215019001 State and local 385.6 407.9 431.0 417.9 434.2 433.2 438.5 453.6 448.6 31

 32 FA265430003 Capital account transactions (net) (2) 16.0 4.6 6.7 10.6 3.8 3.8 8.5 12.3 4.3 32

 33 FA835430005 Private 257.9 1.9 0.3 6.2 -0.7 -1.5 -3.0 -3.1 -4.8 33

 34 FA825430005 Domestic business 285.0 5.5 -1.5 2.2 -2.4 -2.7 -3.3 -4.0 52.5 34

 35 FA105430005 Nonfinancial corporate business 191.6 -8.3 -1.5 2.2 -2.4 -2.7 -3.3 -4.0 52.5 35

 36 FA115440005 Nonfinancial noncorporate business -9.4 -3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FA795440005 Financial business 102.7 16.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 FA155430005 Households and institutions -27.0 -3.7 1.8 4.0 1.7 1.2 0.3 0.9 -57.4 38

 39 FA365430005 Government -241.9 2.7 6.4 4.4 4.5 5.3 11.5 15.5 9.1 39

 40 FA315430005 Federal -184.2 58.7 63.4 61.0 60.0 62.8 69.6 75.1 67.2 40

 41 FA215430005 State and local -57.8 -56.0 -56.9 -56.6 -55.5 -57.5 -58.1 -59.7 -58.2 41

 42 FA885000905 Net lending (+) or net borrowing (-), NIPAs (3) -407.5 -472.4 -509.5 -542.7 -539.6 -511.5 -444.2 -435.7 -582.2 42

 43 FA835000905 Private 432.9 813.5 916.2 841.6 837.3 964.1 1021.9 1121.1 4755.6 43

 44 FA825000905 Domestic business -381.1 -134.7 -34.2 -228.2 -74.7 62.4 103.6 -161.1 150.4 44

 45 FA105000995 Nonfinancial corporate business (3) -219.7 -59.8 -33.5 -170.3 -70.9 46.4 60.7 -39.1 312.2 45

 46 FA115000905 Nonfinancial noncorporate business -61.1 -80.4 -80.2 -84.5 -79.2 -80.5 -76.7 -69.5 5.4 46

 47 FA795000905 Financial business -100.2 5.5 79.5 26.6 75.4 96.6 119.6 -52.5 -167.2 47

 48 FA155000905 Households and institutions 814.0 948.2 950.5 1069.8 912.0 901.7 918.3 1282.2 4605.2 48

 49 FA365000905 Government -840.4 -1285.9 -1425.7 -1384.3 -1376.9 -1475.6 -1466.1 -1556.8 -5337.8 49

 50 FA315000905 Federal -540.0 -1000.6 -1137.4 -1097.6 -1115.6 -1175.8 -1160.5 -1260.0 -5764.4 50

 51 FA215000905 State and local -300.5 -285.3 -288.3 -286.6 -261.2 -299.9 -305.6 -296.9 426.7 51

 52 FA087005005 Statistical discrepancy (line 21 less line 1) -131.4 -58.0 12.8 -32.5 -17.4 75.0 26.2 -110.2 0.1 52

 Addenda:

 53 FA895404005 Disaster losses 104.1 51.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

 54 FA835404005 Private 102.0 51.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 FA825404003 Domestic business 46.8 21.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

 56 FA155404003 Households and institutions 55.2 29.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

 57 FA365404005 Government 2.1 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

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

 59 FA215404003 State and local 2.1 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA895410005 Capital transfers paid, by sector 446.1 131.1 104.0 108.8 98.8 101.0 107.2 115.0 165.7 1

 2 FA825410005 By private business 311.8 17.5 0.0 0.0 0.0 0.0 0.0 0.0 58.0 2

 3 FA795410005 Financial corporations 104.3 17.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FA515410073 Disaster-related insurance benefits 54.9 17.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA795410003 Other 49.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA105410003 Nonfinancial corporations 207.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.0 6

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

 8 FA365410005 By government 92.5 82.2 82.3 85.3 77.6 80.0 86.1 92.4 84.6 8

 9 FA315410005 Federal 91.2 82.2 82.3 85.3 77.6 80.0 86.1 92.4 84.6 9

 10 FA215400033 Investment grants to state and local govts. 66.2 65.8 68.2 67.6 66.6 68.9 69.8 72.2 72.5 10

 11 FA315410073 Disaster-related insurance benefits 10.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

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

 13 FA315410043 Other capital transfers paid to business 1.7 1.2 1.1 1.1 1.2 1.3 0.9 0.9 1.0 13

 14 FA315410053 Other capital transfers paid to persons 6.2 6.8 6.3 6.1 6.1 6.1 6.9 6.9 6.9 14

 15 FA315410063 Capital transfers paid to rest of world (net) 7.1 7.8 6.6 10.5 3.7 3.7 8.5 12.3 4.3 15

 16 FA215410073 State and local 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA215410073 Disaster-related insurance benefits 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA155410035 By persons 28.5 28.3 21.7 23.5 21.3 21.0 21.1 22.6 23.1 18

 19 FA315400053 Estate and gift taxes, federal 23.2 22.7 16.2 17.9 15.7 15.4 15.6 16.8 17.3 19

 20 FA215400053 Estate and gift taxes, state and local 5.3 5.6 5.5 5.6 5.5 5.5 5.5 5.8 5.9 20

 21 FA265410005 By the rest of the world 13.4 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA265410073 Disaster-related insurance benefits 13.4 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

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

 24 FA895400005 Capital transfers received, by sector 446.1 131.1 104.0 108.8 98.8 101.0 107.2 115.0 165.7 24

 25 FA825400005 By private business 27.0 9.8 1.1 1.1 1.2 1.3 0.9 0.9 1.0 25

 26 FA795400005 Financial corporations 1.6 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA515400073 Disaster-related insurance benefits 1.6 0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

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

 29 FA105400005 Nonfinancial corporations 16.0 6.2 1.1 1.1 1.2 1.3 0.9 0.9 1.0 29

 30 FA105400073 Disaster-related insurance benefits 14.3 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA105400003 Other 1.7 1.2 1.1 1.1 1.2 1.3 0.9 0.9 1.0 31

 32 FA115400005 Noncorporate business 9.4 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 FA115400075 Disaster-related insurance benefits 9.4 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

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

 35 FA365400005 By government 346.3 94.9 89.9 91.1 87.9 89.9 90.9 94.9 99.6 35

 36 FA315400005 Federal 273.2 22.7 16.2 17.9 15.7 15.4 15.6 16.8 17.3 36

 37 FA315400053 Estate and gift taxes paid by persons 23.2 22.7 16.2 17.9 15.7 15.4 15.6 16.8 17.3 37

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

 39 FA215400005 State and local 73.2 72.2 73.8 73.2 72.1 74.4 75.3 78.1 82.4 39

 40 FA215400073 Disaster-related insurance benefits 1.7 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 FA215400053 Estate and gift taxes paid by persons 5.3 5.6 5.5 5.6 5.5 5.5 5.5 5.8 5.9 41

 42 FA215400033 Investment grants paid by federal government 66.2 65.8 68.2 67.6 66.6 68.9 69.8 72.2 72.5 42

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

 44 FA155400005 By persons 43.5 18.7 6.3 6.1 6.1 6.1 6.9 6.9 60.9 44

 45 FA155400073 Disaster-related insurance benefits 30.3 12.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 FA155400003 Other 13.1 6.8 6.3 6.1 6.1 6.1 6.9 6.9 60.9 46

 47 FA265400005 By the rest of the world 29.4 7.8 6.6 10.5 3.7 3.7 8.5 12.3 4.3 47

 48 FA265400033 Capital transfers paid by U.S. government 7.1 7.8 6.6 10.5 3.7 3.7 8.5 12.3 4.3 48

 49 FA265400073 Disaster-related insurance benefits 22.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

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

 Addenda: Net capital transfers paid by sector

 51 FA825440005 By private business (lines 2-25) 284.9 7.7 -1.1 -1.1 -1.2 -1.3 -0.9 -0.9 57.0 51

 52 FA795440005 Financial corporations (lines 3-26) 102.7 16.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

 53 FA515440005 Property-casualty insurance companies 59.5 16.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

 54 FA545410003 Life insurance companies 3.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 FA765440005 U.S.-chartered depository institutions 17.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

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

 57 FA615410003 Finance companies 10.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

 58 FA665410003 Brokers and dealers 11.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

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

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

 61 FA105440005 Nonfinancial corporations (lines 6-29) 191.5 -6.2 -1.1 -1.1 -1.2 -1.3 -0.9 -0.9 57.0 61

 62 FA115440005 Noncorporate business (lines 7-32) -9.4 -3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 62

 63 FA365440005 By government (lines 8-35) -253.9 -12.7 -7.7 -5.8 -10.3 -9.8 -4.7 -2.5 -15.0 63

 64 FA315440005 Federal (lines 9-36) -181.9 59.5 66.1 67.4 61.8 64.6 70.6 75.6 67.4 64

 65 FA215440005 State and local (lines 16-39) -71.9 -72.2 -73.8 -73.2 -72.1 -74.4 -75.3 -78.1 -82.4 65

 66 FA155440005 By persons (lines 18-44) -15.0 9.5 15.4 17.4 15.2 14.9 14.2 15.7 -37.8 66

 67 FA265440005 By the rest of the world (lines 21-47) -16.0 -4.5 -6.6 -10.5 -3.7 -3.7 -8.5 -12.3 -4.3 67

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA174090005 Net acquisition of financial assets 1942.0 2083.7 2671.4 3366.6 2376.9 2303.0 2639.3 3201.9 6682.2 1

 2 FA153091003 Foreign deposits 12.9 2.9 -1.0 -2.9 -5.8 -0.5 5.1 37.8 -0.8 2

 3 FA173020005 Checkable deposits and currency 204.2 -74.9 42.0 99.7 -273.7 -194.4 536.4 545.5 2418.5 3

 4 FA173030005 Time and savings deposits 282.1 476.0 597.5 620.7 582.3 654.0 533.0 1632.5 3183.1 4

 5 FA173034005 Money market fund shares 68.5 185.9 415.0 304.6 408.3 562.3 384.7 1058.0 844.9 5

 6 FA174022005 Debt securities -39.3 901.5 387.3 768.2 1518.6 -244.4 -493.2 -85.4 -657.6 6

 7 FA173061105 Treasury securities -34.4 623.8 268.7 1201.9 808.6 -180.2 -755.3 -688.9 83.8 7

 8 FA153061705 Agency- and GSE-backed securities 57.4 193.0 105.4 -6.2 205.1 41.4 181.1 163.9 -1384.9 8

 9 FA173062005 Municipal securities -36.7 -9.6 -51.3 -57.2 -91.8 -74.5 18.2 34.5 -62.5 9

 10 FA153063005 Corporate and foreign bonds -25.6 94.3 64.5 -370.3 596.6 -31.0 62.8 405.0 706.0 10

 11 FA174023005 Loans -61.5 -17.1 11.2 -45.9 11.2 121.5 -42.0 583.4 -99.7 11

 12 FA153064105 Corporate equities (2) 128.5 -115.5 84.3 591.6 -869.4 310.7 304.1 -428.3 -91.2 12

 13 FA153064205 Mutual fund shares 309.1 21.9 378.2 293.4 281.9 219.5 718.0 -1042.0 332.1 13

 14 FA163070005 Trade receivables 11.2 6.7 7.6 7.6 7.6 7.6 7.6 7.9 27.0 14

 15 FA153040005 Life insurance reserves 19.0 49.4 16.7 8.3 14.7 57.2 -13.4 99.2 -49.2 15

 16 FA153050005 Pension entitlements 480.6 285.5 419.2 440.0 428.6 468.7 339.5 543.2 228.5 16

 17 FA173099005 Miscellaneous and other assets 526.6 361.5 313.4 281.2 272.4 340.8 359.4 250.1 546.8 17

 18 FA175050005 Gross investment in nonfinancial assets 2513.5 2650.3 2722.1 2675.6 2710.9 2744.5 2757.6 2735.6 2555.3 18

 19 FA175012005 Residential fixed investment 750.7 788.4 796.7 785.7 785.1 800.1 816.1 855.1 753.0 19

 20 FA175013005 Nonresidential fixed investment 464.2 493.8 512.7 508.8 511.6 515.7 514.8 512.7 489.1 20

 21 FA155111003 Consumer durables 1311.4 1377.0 1427.7 1390.6 1429.3 1444.9 1446.1 1392.5 1377.2 21

 22 FA155420003 Nonproduced nonfinancial assets -12.0 -13.2 -13.6 -13.4 -13.5 -13.7 -13.9 -14.9 -19.6 22

 23 FA115020005 Inventories -0.7 4.4 -1.5 3.9 -1.5 -2.5 -5.7 -9.7 -44.4 23

 24 FA176300005 Consumption of fixed capital 1926.0 2018.1 2106.0 2069.7 2093.6 2119.7 2140.9 2121.7 2138.9 24

 25 FA176320005 Residential fixed investment 484.2 519.9 540.1 530.3 537.4 543.8 548.9 554.6 558.9 25

 26 FA176330005 Nonresidential fixed investment 375.4 390.4 408.7 404.2 406.0 410.7 413.9 416.5 419.9 26

 27 FA156300103 Consumer durables 1066.4 1107.8 1157.1 1135.2 1150.1 1165.2 1178.1 1150.5 1160.2 27

 28 FA172010005 Net investment in nonfinancial assets (3) 587.5 632.2 616.2 605.9 617.4 624.8 616.7 614.0 416.4 28

 29 FA175012865 Residential fixed investment 266.4 268.5 256.6 255.4 247.6 256.3 267.2 300.5 194.1 29

 30 FA175013865 Nonresidential fixed investment 88.8 103.3 104.0 104.6 105.5 105.0 101.0 96.1 69.2 30

 31 FA155111005 Consumer durables 245.0 269.2 270.6 255.5 279.1 279.7 268.1 241.9 217.1 31

 32 FA155420003 Nonproduced nonfinancial assets -12.0 -13.2 -13.6 -13.4 -13.5 -13.7 -13.9 -14.9 -19.6 32

 33 FA115020005 Inventories -0.7 4.4 -1.5 3.9 -1.5 -2.5 -5.7 -9.7 -44.4 33

 34 FA174190005 Net increase in liabilities 1142.2 1026.2 949.9 772.1 1008.0 1021.9 997.6 1443.2 1059.5 34

 35 FA173165105 One-to-four-family residential mortgages 330.8 309.0 302.4 254.7 327.1 358.0 269.8 373.2 333.1 35

 36 FA173165205 Other mortgages 290.3 211.4 246.4 204.5 191.4 331.1 258.6 236.7 213.2 36

 37 FA153166000 Consumer credit 192.3 181.5 182.4 184.1 177.2 198.4 169.9 41.2 -275.9 37

 38 FA173169005 Other loans and advances 62.9 -16.5 32.8 -41.3 88.2 0.1 84.1 70.8 267.8 38

 39 FA173199005 Other liabilities 265.9 340.8 186.0 170.1 224.2 134.4 215.2 721.2 521.2 39

 40 FA175440005 Net capital transfers paid (4) -24.4 6.5 15.4 17.4 15.2 14.9 14.2 15.7 -37.8 40

 41 FA176007025 Personal saving, FOF concept (FOF) 1362.9 1696.2 2353.1 3217.8 2001.4 1920.7 2272.5 2388.4 6001.4 41

 42 FA155111005 - Net investment in consumer durables 245.0 269.2 270.6 255.5 279.1 279.7 268.1 241.9 217.1 42

 43 FA313154015 - Government insurance and pension fund reserves (5) -2.1 -2.0 -2.1 -3.1 -1.0 -2.1 -2.1 -3.6 -4.4 43

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

 45 FA176007005 = Personal saving, NIPA concept (FOF) (6) 1125.3 1434.2 2089.7 2970.6 1728.3 1648.2 2011.8 2155.3 5793.6 45

 46 FA156007015 Personal saving, NIPA concept (NIPA) 1071.0 1237.3 1231.2 1354.5 1186.1 1180.6 1203.8 1595.3 4755.7 46

 47 FA176007085 Difference 54.3 196.9 858.5 1616.1 542.2 467.6 808.0 560.0 1037.9 47

 Memo:

 48 FA156012005 Disposable personal income 14901.9 15766.5 16348.6 16196.0 16258.4 16400.5 16539.6 16698.6 18306.2 48

 Personal saving as a percentage of disposable personal income:

 49 FA176007026 FOF concept (FOF data) (line 41) 9.15 10.76 14.39 19.87 12.31 11.71 13.74 14.30 32.78 49

 50 FA176007006 NIPA concept (FOF data) (line 45) 7.55 9.10 12.78 18.34 10.63 10.05 12.16 12.91 31.65 50

 51 FA156007016 NIPA concept (NIPA data) (line 46) 7.19 7.85 7.53 8.36 7.30 7.20 7.28 9.55 25.98 51

 52 FA176007086 Difference (line 47) 0.36 1.25 5.25 9.98 3.34 2.85 4.89 3.35 5.67 52

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

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

(3) Line 18 less line 24.

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

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

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

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

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

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL174090005 Total financial assets 78987.6 78183.3 89013.6 83344.8 84861.4 85602.5 89013.6 81512.7 88898.1 1

 2 LM153091003 Foreign deposits 39.1 42.0 41.0 41.3 39.8 39.7 41.0 50.4 50.2 2

 3 FL173020005 Checkable deposits and currency 1601.0 1526.1 1579.0 1627.5 1484.4 1339.6 1579.0 1775.5 2292.4 3

 4 FL173030005 Time and savings deposits 10233.9 10709.4 11309.1 10897.9 10939.0 11132.0 11309.1 11745.1 12446.9 4

 5 FL173034005 Money market fund shares 1717.6 1903.5 2318.5 1934.5 2022.8 2185.3 2318.5 2540.0 2740.4 5

 6 FL174022005 Debt securities 4542.7 5289.8 5887.0 5400.9 5833.5 5865.5 5887.0 5713.4 5476.5 6

 7 FL173061105 Treasury securities 1201.4 1783.2 2159.9 2007.6 2133.0 2165.7 2159.9 1876.5 1900.6 7

 8 LM153061705 Agency- and GSE-backed securities 451.9 631.1 736.1 631.4 699.5 699.9 736.1 773.5 443.4 8

 9 FL173062005 Municipal securities 1898.6 1869.6 1907.2 1905.9 1913.2 1904.9 1907.2 1895.2 1912.9 9

 10 LM153063005 Corporate and foreign bonds 990.8 1005.9 1083.9 856.0 1087.8 1094.9 1083.9 1168.3 1219.5 10

 11 FL174023005 Loans 950.9 933.8 945.0 922.4 925.2 955.5 945.0 1090.9 1066.0 11

 12 FL153069005 Other loans and advances 786.2 782.2 804.4 773.6 779.4 812.4 804.4 950.7 928.5 12

 13 FL173065005 Mortgages 129.6 120.4 112.9 118.5 116.5 114.7 112.9 113.6 111.8 13

 14 FL173066005 Consumer credit 35.2 31.3 27.7 30.3 29.3 28.4 27.7 26.5 25.7 14

 15 LM153064105 Corporate equities (2) 18278.2 16559.2 21287.4 19327.4 19634.9 19789.2 21287.4 16000.7 19518.7 15

 16 LM153064205 Mutual fund shares 8654.8 8005.8 10038.6 9011.4 9340.4 9380.8 10038.6 8197.4 9519.1 16

 17 FL163070005 Trade receivables 255.4 262.1 269.7 264.0 265.9 267.8 269.7 271.7 278.4 17

 18 FL153040005 Life insurance reserves 1626.6 1659.1 1731.3 1689.0 1702.5 1718.8 1731.3 1709.2 1736.1 18

 19 FL583150005 Pension entitlements 25977.1 25873.1 27879.7 26744.8 27124.7 27300.3 27879.7 26639.0 27859.0 19

 20 FL543150005 Life insurance companies 3222.9 3174.8 3486.5 3315.3 3378.7 3411.4 3486.5 3295.8 3468.5 20

 21 FL574190005 Private pension funds 10056.7 9720.7 10916.8 10293.1 10498.5 10549.5 10916.8 9920.1 10777.3 21

 22 FL363150005 Governments 12697.5 12977.7 13476.4 13136.5 13247.5 13339.4 13476.4 13423.2 13613.2 22

 23 FL173099005 Miscellaneous and other assets 5187.1 5548.5 5862.0 5614.2 5680.2 5761.8 5862.0 5919.7 6054.1 23

 24 FL174190005 Total liabilities 23359.6 24376.0 25283.1 24477.5 24736.8 25033.5 25283.1 25554.2 25833.7 24

 25 FL173165105 One-to-four-family residential mortgages 10565.4 10854.7 11140.3 10884.1 10966.8 11068.2 11140.3 11201.8 11286.5 25

 26 FL173165205 Other mortgages 3553.7 3765.1 4011.5 3816.2 3864.1 3946.8 4011.5 4070.7 4124.0 26

 27 FL153166000 Consumer credit 3813.0 3998.1 4180.6 3988.5 4040.9 4117.3 4180.6 4139.9 4079.1 27

 28 FL173169005 Other loans and advances 705.9 689.4 722.2 681.2 701.0 698.5 722.2 741.9 806.6 28

 29 FL173199005 Other liabilities 4721.6 5068.7 5228.5 5107.5 5164.0 5202.6 5228.5 5399.9 5537.4 29

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 16), life insurance reserves (line 18), and pension entitlements (line 19).
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Z.1, September 21, 2020 15

F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA386000105 Gross saving less net capital transfers paid 4886.5 5013.1 5033.7 5005.4 5037.6 4964.6 5127.2 5130.4 4350.7 1

 2 FA385090005 Gross investment 5202.4 5170.2 5432.1 4592.0 5338.5 6266.8 5531.1 6314.3 4939.9 2

 3 FA385050005 Capital expenditures 5072.9 5437.8 5636.7 5602.0 5626.8 5664.9 5653.2 5570.7 5061.2 3

 4 FA155111003 Consumer durables 1311.4 1377.0 1427.7 1390.6 1429.3 1444.9 1446.1 1392.5 1377.2 4

 5 FA385012005 Fixed residential investment 763.5 800.0 805.1 793.5 795.3 807.7 824.1 868.1 780.0 5

 6 FA385013005 Fixed nonresidential investment 2981.7 3203.0 3354.7 3319.2 3349.0 3371.0 3379.6 3362.3 3201.9 6

 7 FA145020005 Inventory change 16.3 57.7 49.1 98.6 53.1 41.3 3.4 -52.1 -297.9 7

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

 9 FA385000005 Net lending (+) or net borrowing (-) 129.5 -267.5 -204.6 -1010.0 -288.3 601.8 -122.1 743.6 -121.3 9

 10 FA384090005 Net acqisition of financial assets 2724.1 3219.9 3573.0 3467.0 2633.3 4287.4 3904.3 6901.3 14772.7 10

 11 FA313011005 U.S. official reserve assets -1.7 5.0 4.6 0.8 9.3 7.4 0.8 -1.0 19.8 11

 12 FA383091005 Foreign deposits 131.8 -107.4 9.3 2.6 42.9 -71.0 62.6 60.7 124.3 12

 13 FA383020005 Checkable deposits and currency 15.4 329.0 131.9 -196.9 -205.3 894.2 35.5 2342.2 8306.9 13

 14 FA383030005 Time and savings deposits 288.9 489.9 626.4 705.2 619.5 593.0 588.1 1986.9 3282.4 14

 15 FA383034005 Money market fund shares 104.4 150.4 513.9 389.0 518.2 687.9 460.6 2564.6 1060.7 15

 16 FA382051005 Security repurchase agreements -49.1 -30.5 0.9 -7.2 -31.3 13.2 28.8 16.4 22.9 16

 17 FA384022005 Debt securities -19.4 868.8 438.6 696.0 1223.1 -7.0 -157.9 -218.8 -4.4 17

 18 FA383069105 Open market paper -8.0 35.8 84.6 6.4 110.5 187.5 34.1 43.1 -33.1 18

 19 FA383061105 Treasury securities -15.2 569.2 259.2 1167.6 581.6 -153.3 -558.9 -819.3 581.2 19

 20 FA383061705 Agency- and GSE-backed securities 70.5 172.2 96.0 -21.3 86.2 60.6 258.3 121.8 -1291.6 20

 21 FA383062005 Municipal securities -39.4 -8.1 -51.7 -58.5 -95.7 -73.9 21.2 32.1 -58.3 21

 22 FA383063005 Corporate and foreign bonds -27.2 99.7 50.4 -398.2 540.5 -27.8 87.3 403.4 797.4 22

 23 FA384023005 Loans 40.1 75.7 110.1 64.8 47.4 240.0 88.2 617.8 437.1 23

 24 FA383069005 Other loans and advances -54.4 1.0 32.2 -15.6 29.0 132.9 -17.4 571.2 365.7 24

 25 FA383065005 Mortgages 3.8 -12.3 -1.5 0.8 -57.7 26.8 24.2 -26.2 13.1 25

 26 FA383066005 Consumer credit 90.6 87.0 79.4 79.6 76.0 80.4 81.4 72.7 58.3 26

 27 FA383064105 Corporate equities 35.9 -153.2 81.1 588.4 -872.6 307.5 300.9 -431.5 -94.4 27

 28 FA383064205 Mutual fund shares 317.9 13.3 384.4 299.6 288.1 225.8 724.3 -1035.8 338.3 28

 29 FA383070005 Trade receivables 233.4 503.9 151.2 250.5 196.9 50.5 106.8 -248.1 -137.2 29

 30 FA153040005 Life insurance reserves 19.0 49.4 16.7 8.3 14.7 57.2 -13.4 99.2 -49.2 30

 31 FA153050005 Pension entitlements 480.6 285.5 419.2 440.0 428.6 468.7 339.5 543.2 228.5 31

 32 FA383078005 Taxes payable 225.5 22.3 -15.4 -3.8 -39.1 -50.0 31.3 -29.6 373.5 32

 33 FA152090205 Equity in noncorporate business 92.2 -17.4 19.3 18.8 16.6 15.7 26.3 44.6 15.4 33

 34 FA103092005 U.S. direct investment abroad 310.5 -157.6 77.5 -237.6 321.5 -61.1 287.1 -130.4 247.4 34

 35 FA383090005 Miscellaneous assets 498.6 892.8 603.4 448.5 54.7 915.5 994.9 720.9 601.0 35

 36 FA384190005 Net increase in liabilities 2594.6 3487.4 3777.6 4477.1 2921.6 3685.6 4026.3 6157.7 14894.0 36

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

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

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

 40 FA384122005 Debt securities 769.0 1495.5 1440.3 1285.0 768.5 2814.5 893.1 2849.6 13108.4 40

 41 FA103169100 Open market paper 25.9 -10.2 -1.9 87.8 -61.6 -10.4 -23.5 -32.6 -282.4 41

 42 FA313161105 Treasury securities 447.0 1411.2 1176.6 849.1 570.4 2410.8 876.1 2168.3 11598.7 42

 43 FA313161705 Agency- and GSE-backed securities -0.1 -1.5 -1.7 -3.0 -0.8 -2.2 -1.0 -0.1 -0.7 43

 44 FA383162005 Municipal securities 14.6 -57.2 19.9 -11.2 -54.2 38.3 106.8 29.3 94.4 44

 45 FA103163003 Corporate and foreign bonds 281.6 153.2 247.4 362.3 314.7 378.0 -65.3 684.6 1698.4 45

 46 FA384123005 Loans 1226.0 810.3 1013.8 1790.9 1050.4 313.0 901.1 2936.9 988.3 46

 47 FA383168005 Depository institution loans n.e.c. 89.1 211.5 57.3 65.6 148.9 -13.6 28.5 1818.4 517.6 47

 48 FA383169005 Other loans and advances 362.7 -162.8 178.4 1000.8 192.9 -633.9 154.0 405.5 167.6 48

 49 FA383165005 Mortgages 581.9 580.1 595.7 540.4 531.4 762.1 548.7 671.7 578.9 49

 50 FA153166000 Consumer credit 192.3 181.5 182.4 184.1 177.2 198.4 169.9 41.2 -275.9 50

 51 FA103164103 Corporate equities -325.6 -548.3 -453.2 -699.2 -172.9 -446.0 -494.8 -391.7 -67.9 51

 52 FA383170005 Trade payables 158.4 509.0 219.4 268.9 208.4 167.0 233.3 -42.3 -6.8 52

 53 FA313140003 Life insurance reserves -0.2 0.2 0.9 2.0 -0.4 1.6 0.3 -0.6 -0.0 53

 54 FA143178005 Taxes payable 215.7 -4.1 -10.0 -2.6 -69.0 36.4 -4.7 68.1 216.2 54

 55 FA112090205 Equity in noncorporate business 91.3 -27.0 14.1 18.1 16.7 6.9 14.8 39.3 0.8 55

 56 FA143192005 Foreign direct investment in U.S. 283.9 205.6 253.3 299.6 267.4 171.2 275.1 157.6 62.3 56

 57 FA383190005 Miscellaneous liabilities 176.0 1046.2 1299.0 1514.3 852.6 621.0 2208.1 541.0 592.8 57

 58 FA387005005 Discrepancy -315.9 -157.1 -398.4 413.4 -300.9 -1302.2 -403.9 -1183.9 -589.2 58

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

16 Z.1, September 21, 2020

F.101 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA156010001 Personal income 16948.6 17851.8 18551.5 18366.7 18480.9 18597.6 18760.8 18951.0 20401.5 1

 2 FA156210005 - Personal current taxes 2046.7 2085.3 2202.9 2170.7 2222.5 2197.1 2221.2 2252.4 2095.3 2

 3 FA156012005 = Disposable personal income 14901.9 15766.5 16348.6 16196.0 16258.4 16400.5 16539.6 16698.6 18306.2 3

 4 FA156900005 - Personal outlays 13830.9 14529.2 15117.4 14841.5 15072.3 15219.9 15335.8 15103.3 13550.4 4

 5 FA156007015 = Personal saving, NIPA (2) 1071.0 1237.3 1231.2 1354.5 1186.1 1180.6 1203.8 1595.3 4755.7 5

 6 FA313154015 + Government insurance and pension reserves (3) -2.1 -2.0 -2.1 -3.1 -1.0 -2.1 -2.1 -3.6 -4.4 6

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

 8 FA155111005 + Net investment in consumer durables 245.0 269.2 270.6 255.5 279.1 279.7 268.1 241.9 217.1 8

 9 FA156300005 + Consumption of fixed capital 1604.2 1681.7 1756.2 1724.5 1745.0 1768.2 1787.0 1764.6 1779.4 9

 10 FA155440005 - Net capital transfers paid (4) -15.0 9.5 15.4 17.4 15.2 14.9 14.2 15.7 -37.8 10

 11 FA156000105 = Gross saving less net capital transfers paid 2927.8 3171.5 3235.4 3308.8 3188.9 3206.4 3237.3 3577.3 6780.7 11

 12 FA155090005 Gross investment 2982.1 3368.4 4093.9 4924.9 3731.2 3674.0 4045.4 4137.2 7818.6 12

 13 FA155050005 Capital expenditures 2121.2 2230.6 2292.2 2247.3 2283.0 2311.9 2326.3 2303.9 2184.8 13

 14 FA155111003 Consumer durable goods 1311.4 1377.0 1427.7 1390.6 1429.3 1444.9 1446.1 1392.5 1377.2 14

 15 FA155012005 Residential 631.4 663.5 668.4 659.7 658.7 670.8 684.5 717.3 629.9 15

 16 FA165013005 Nonprofit nonresidential 190.5 203.3 209.6 210.4 208.6 209.8 209.6 209.0 197.2 16

 17 FA155420003 Nonproduced nonfinancial assets -12.0 -13.2 -13.6 -13.4 -13.5 -13.7 -13.9 -14.9 -19.6 17

 18 FA155000005 Net lending (+) or net borrowing (-) 860.9 1137.9 1801.7 2677.6 1448.1 1362.1 1719.0 1833.3 5633.7 18

 19 FA154090005 Net acquisition of financial assets 1419.6 1640.0 2318.2 3028.7 2079.0 1892.9 2272.3 2455.7 5712.8 19

 20 FA153091003 Foreign deposits 12.9 2.9 -1.0 -2.9 -5.8 -0.5 5.1 37.8 -0.8 20

 21 FA153020005 Checkable deposits and currency 177.4 -95.0 19.2 77.5 -293.9 -220.0 513.4 317.7 2180.3 21

 22 FA153030005 Time and savings deposits 191.0 397.8 530.8 555.7 524.5 577.6 465.2 1329.3 2953.6 22

 23 FA153034005 Money market fund shares 59.4 178.1 408.3 298.1 402.6 554.7 377.9 1027.8 832.0 23

 24 FA154022005 Debt securities -46.1 894.4 385.8 768.7 1522.2 -244.4 -503.4 -82.3 -669.6 24

 25 FA153061105 Treasury securities -40.5 617.4 267.3 1202.2 812.1 -180.0 -765.0 -683.6 72.1 25

 26 FA153061705 Agency- and GSE-backed securities 57.4 193.0 105.4 -6.2 205.1 41.4 181.1 163.9 -1384.9 26

 27 FA153062005 Municipal securities -37.5 -10.2 -51.4 -57.0 -91.7 -74.7 17.8 32.3 -62.7 27

 28 FA153063005 Corporate and foreign bonds -25.6 94.3 64.5 -370.3 596.6 -31.0 62.8 405.0 706.0 28

 29 FA154023005 Loans -70.0 -20.8 8.0 -49.0 8.5 117.8 -45.3 568.9 -105.9 29

 30 FA153069005 Other loans and advances (5) -53.7 -4.0 22.3 -34.2 23.1 132.2 -32.0 585.3 -89.1 30

 31 FA153065005 Mortgages -10.1 -12.9 -10.6 -10.8 -10.8 -10.8 -10.2 -11.9 -13.4 31

 32 FA163066223 Consumer credit (student loans) -6.2 -3.9 -3.6 -4.0 -3.8 -3.6 -3.1 -4.5 -3.4 32

 33 FA153064105 Corporate equities (6) 128.5 -115.5 84.3 591.6 -869.4 310.7 304.1 -428.3 -91.2 33

 34 FA153064205 Mutual fund shares 309.1 21.9 378.2 293.4 281.9 219.5 718.0 -1042.0 332.1 34

 35 FA163070005 Trade receivables 11.2 6.7 7.6 7.6 7.6 7.6 7.6 7.9 27.0 35

 36 FA153040005 Life insurance reserves 19.0 49.4 16.7 8.3 14.7 57.2 -13.4 99.2 -49.2 36

 37 FA153050005 Pension entitlements (7) 480.6 285.5 419.2 440.0 428.6 468.7 339.5 543.2 228.5 37

 38 FA152090205 Equity in noncorporate business 92.2 -17.4 19.3 18.8 16.6 15.7 26.3 44.6 15.4 38

 39 FA153090005 Miscellaneous assets 54.2 52.1 41.8 20.9 40.8 28.2 77.2 31.9 60.7 39

 40 FA154190005 Net increase in liabilities 558.6 502.1 516.5 351.1 630.8 530.8 553.3 622.4 79.1 40

 41 FA163162003 Debt securities (municipal securities) 1.6 -2.3 -3.2 -4.1 -2.6 -1.5 -4.5 -11.5 -9.5 41

 42 FA154123005 Loans 548.8 493.4 510.1 341.4 628.1 520.7 550.2 615.6 84.3 42

 43 FA153165105 One-to-four-family residential mortgages (8) 283.0 289.3 285.6 243.9 309.2 333.5 255.8 353.0 317.1 43

 44 FA153166000 Consumer credit 192.3 181.5 182.4 184.1 177.2 198.4 169.9 41.2 -275.9 44

 45 FA153168005 Depository institution loans n.e.c. (9) 7.9 37.8 7.8 -57.3 57.4 -19.3 50.4 155.6 -19.2 45

 46 FA153169005 Other loans and advances 59.2 -24.9 24.9 -38.7 75.0 -1.2 64.7 56.8 53.2 46

 47 FA163165505 Commercial mortgages 6.4 9.7 9.4 9.4 9.4 9.4 9.4 9.0 9.0 47

 48 FA163170005 Trade payables 6.4 9.1 8.1 8.1 8.1 8.1 8.1 8.2 8.2 48

 49 FA543077073 Deferred and unpaid life insurance premiums 1.8 1.9 1.5 5.8 -2.8 3.5 -0.5 10.2 -3.8 49

 50 FA157005005 Discrepancy -54.3 -196.9 -858.5 -1616.1 -542.2 -467.6 -808.0 -560.0 -1037.9 50

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

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

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

(4) Table F.5, line 66.

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

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

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

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

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

Z.1, September 21, 2020 17

F.102 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA146110005 Income before taxes 2970.2 3059.7 3143.0 3092.9 3117.6 3123.8 3237.6 3011.1 2647.9 1

 2 FA146000105 Gross saving less net capital transfers paid 2120.8 2406.2 2455.0 2336.9 2459.7 2458.7 2564.7 2300.4 2089.1 2

 3 FA145090005 Gross investment 2289.2 2291.9 1987.1 1047.1 2196.5 2882.7 1822.0 3074.2 1803.4 3

 4 FA145050005 Capital expenditures 2275.5 2487.9 2577.7 2613.8 2579.0 2580.0 2537.8 2460.8 2062.0 4

 5 FA145019005 Fixed investment 2259.0 2432.3 2529.0 2511.9 2527.1 2540.1 2536.7 2515.9 2364.4 5

 6 FA145012005 Residential 130.7 131.5 131.6 128.8 131.4 131.7 134.5 145.4 144.8 6

 7 FA145013005 Nonresidential 2128.3 2300.8 2397.4 2383.2 2395.7 2408.4 2402.2 2370.5 2219.6 7

 8 FA145020005 Change in inventories 16.3 57.7 49.1 98.6 53.1 41.3 3.4 -52.1 -297.9 8

 9 FA105420005 Nonproduced nonfinancial assets 0.1 -2.1 -0.4 3.3 -1.2 -1.4 -2.4 -3.1 -4.5 9

 10 FA145000005 Net lending (+) or net borrowing (-) 13.7 -196.0 -590.6 -1566.7 -382.5 302.7 -715.8 613.5 -258.6 10

 11 FA144090005 Net acquisition of financial assets 1161.4 1287.3 1118.7 396.9 1131.4 1722.1 1224.3 4099.9 2056.0 11

 12 FA103091003 Foreign deposits 119.0 -110.3 10.3 5.5 48.6 -70.5 57.5 22.9 125.1 12

 13 FA143020005 Checkable deposits and currency 10.6 258.1 105.4 -193.5 370.6 680.8 -436.3 1366.3 1173.5 13

 14 FA143030005 Time and savings deposits 83.4 84.1 75.7 121.3 67.9 0.6 112.9 604.6 310.3 14

 15 FA143034005 Money market fund shares 44.7 -25.6 98.8 87.4 109.7 123.9 74.3 1516.3 220.1 15

 16 FA102051003 Security repurchase agreements -50.7 -25.0 -2.4 -9.9 -7.2 -0.6 8.2 48.8 19.7 16

 17 FA144022005 Debt securities 35.7 26.1 73.1 13.7 74.2 154.1 50.3 148.8 53.6 17

 18 FA103069100 Commercial paper -8.8 38.4 83.1 5.1 121.9 181.0 24.4 58.5 -38.4 18

 19 FA143061105 Treasury securities 36.2 -9.2 -7.3 6.6 -36.7 -20.6 21.5 62.4 91.4 19

 20 FA103061703 Agency- and GSE-backed securities 10.0 -5.5 -2.8 2.5 -10.5 -6.3 3.2 25.7 0.4 20

 21 FA143062005 Municipal securities -1.7 2.4 0.0 -0.4 -0.6 -0.1 1.2 2.2 0.2 21

 22 FA144023005 Loans 11.3 5.9 3.3 0.0 -7.8 0.8 20.3 23.8 -7.9 22

 23 FA143065005 Mortgages 10.8 5.7 3.3 4.2 3.8 4.7 0.6 30.3 7.3 23

 24 FA143066005 Consumer credit 0.5 0.2 0.0 -4.2 -11.6 -3.9 19.7 -6.4 -15.2 24

 25 FA103064103 Corporate equities -89.1 -38.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 25

 26 FA103064203 Mutual fund shares 7.6 -9.8 5.0 5.0 5.0 5.0 5.0 5.0 5.0 26

 27 FA143070005 Trade receivables 215.9 459.2 134.8 239.0 170.3 31.5 98.3 -237.6 -129.1 27

 28 FA103092005 U.S. direct investment abroad 310.5 -157.6 77.5 -237.6 321.5 -61.1 287.1 -130.4 247.4 28

 29 FA143090005 Miscellaneous assets 462.6 820.3 536.9 365.8 -21.9 857.3 946.5 731.1 38.1 29

 30 FA144194005 Net increase in liabilities and equity 1147.7 1483.3 1709.2 1963.6 1513.8 1419.4 1940.1 3486.4 2314.5 30

 31 FA104122005 Debt securities 320.8 138.8 259.7 463.9 258.8 381.4 -65.3 666.9 1412.9 31

 32 FA103169100 Commercial paper 25.9 -10.2 -1.9 87.8 -61.6 -10.4 -23.5 -32.6 -282.4 32

 33 FA103162000 Municipal securities 13.3 -4.2 14.2 13.7 5.7 13.8 23.5 14.9 -3.0 33

 34 FA103163003 Corporate bonds 281.6 153.2 247.4 362.3 314.7 378.0 -65.3 684.6 1698.4 34

 35 FA144123005 Loans 525.1 467.5 486.9 587.3 415.5 565.8 378.8 2321.4 966.1 35

 36 FA143168005 Depository institution loans n.e.c. 81.2 173.7 49.6 123.0 91.5 5.7 -21.9 1662.8 536.8 36

 37 FA143169005 Other loans and advances 151.4 12.7 136.6 177.3 111.1 140.8 117.2 348.9 176.5 37

 38 FA143165005 Mortgages 292.5 281.2 300.7 287.1 212.9 419.3 283.5 309.7 252.8 38

 39 FA103164103 Corporate equities -325.6 -548.3 -453.2 -699.2 -172.9 -446.0 -494.8 -391.7 -67.9 39

 40 FA143170005 Trade payables 89.1 394.8 144.9 195.0 147.7 99.8 137.1 -94.7 -654.1 40

 41 FA143178005 Taxes payable 215.7 -4.1 -10.0 -2.6 -69.0 36.4 -4.7 68.1 216.2 41

 42 FA143192005 Foreign direct investment in U.S. 283.9 205.6 253.3 299.6 267.4 171.2 275.1 157.6 62.3 42

 43 FA143190005 Miscellaneous liabilities -52.6 855.9 1013.6 1101.5 649.7 604.0 1699.2 719.5 378.2 43

 44 FA112090205 Proprietors’ net investment 91.3 -27.0 14.1 18.1 16.7 6.9 14.8 39.3 0.8 44

 45 FA107005005 Discrepancy -168.4 114.3 467.9 1289.7 263.3 -424.0 742.8 -773.9 285.6 45

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

18 Z.1, September 21, 2020

F.103 Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA106060005 Profits before tax 1250.4 1255.9 1261.3 1244.4 1265.2 1222.2 1313.5 1076.8 913.3 1

 2 FA106231005 - Taxes on corporate income 224.2 196.4 212.4 212.5 219.7 195.6 221.7 184.8 156.2 2

 3 FA106121075 - Net dividends 720.7 259.8 636.6 606.1 605.6 672.8 661.8 607.2 728.7 3

 4 FA105020601 + Inventory valuation adjustment (IVA) -52.7 -54.7 -5.3 -34.0 2.6 28.4 -18.1 58.9 52.7 4

 5 FA106300015 + Capital consumption allowance (1) 1488.7 1659.0 1663.0 1636.7 1654.4 1671.6 1689.5 1676.9 1688.4 5

 6 FA106006065 + Foreign earnings retained abroad 239.6 -343.4 34.0 -37.9 13.1 52.2 108.5 -78.2 17.0 6

 7 FA105440005 - Net capital transfers paid (2) 191.5 -6.2 -1.1 -1.1 -1.2 -1.3 -0.9 -0.9 57.0 7

 8 FA106000105 = Gross savings less net capital transfers paid 1789.6 2066.8 2105.3 1991.7 2111.2 2107.2 2210.9 1943.3 1729.5 8

 9 FA105090005 Gross investment 1958.0 1952.5 1637.3 702.0 1847.9 2531.2 1468.1 2717.2 1443.9 9

 10 FA105050005 Capital expenditures 1883.2 2068.2 2147.7 2185.6 2151.1 2147.4 2106.6 2029.0 1691.5 10

 11 FA105019005 Fixed investment (3) 1866.0 2017.0 2097.5 2087.5 2097.7 2105.0 2099.9 2074.5 1949.5 11

 12 FA105020005 Inventory change + IVA 17.1 53.4 50.5 94.7 54.5 43.9 9.1 -42.4 -253.5 12

 13 FA105420005 Nonproduced nonfinancial assets 0.1 -2.1 -0.4 3.3 -1.2 -1.4 -2.4 -3.1 -4.5 13

 14 FA105000005 Net lending (+) or net borrowing (-) 74.8 -115.7 -510.3 -1483.6 -303.2 383.8 -638.4 688.1 -247.6 14

 15 FA104090005 Net acquisition of financial assets 547.7 870.5 751.4 41.0 816.8 1305.1 842.5 3314.4 1085.8 15

 16 FA103091003 Foreign deposits 119.0 -110.3 10.3 5.5 48.6 -70.5 57.5 22.9 125.1 16

 17 FA103020000 Checkable deposits and currency -16.2 238.0 82.6 -215.8 350.4 655.3 -459.3 1138.5 935.3 17

 18 FA103030003 Time and savings deposits -7.7 5.8 8.9 56.3 10.2 -75.8 45.0 301.4 80.8 18

 19 FA103034000 Money market fund shares 35.6 -33.4 92.2 80.9 104.0 116.3 67.6 1486.1 207.1 19

 20 FA102051003 Security repurchase agreements -50.7 -25.0 -2.4 -9.9 -7.2 -0.6 8.2 48.8 19.7 20

 21 FA104022005 Debt securities 28.8 19.1 71.5 14.2 77.8 154.1 40.1 151.9 41.7 21

 22 FA103069100 Commercial paper -8.8 38.4 83.1 5.1 121.9 181.0 24.4 58.5 -38.4 22

 23 FA103061103 Treasury securities 30.1 -15.6 -8.7 6.9 -33.2 -20.4 11.7 67.7 79.7 23

 24 FA103061703 Agency- and GSE-backed securities 10.0 -5.5 -2.8 2.5 -10.5 -6.3 3.2 25.7 0.4 24

 25 FA103062003 Municipal securities -2.5 1.7 -0.1 -0.3 -0.5 -0.3 0.8 -0.0 0.0 25

 26 FA104023005 Loans 2.9 2.2 0.1 -3.1 -10.6 -2.8 17.0 9.3 -14.1 26

 27 FA103065003 Mortgages 2.4 2.0 0.1 1.1 1.1 1.1 -2.7 15.7 1.1 27

 28 FA103066005 Consumer credit 0.5 0.2 0.0 -4.2 -11.6 -3.9 19.7 -6.4 -15.2 28

 29 FA103064103 Corporate equities -89.1 -38.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 29

 30 FA103064203 Mutual fund shares 7.6 -9.8 5.0 5.0 5.0 5.0 5.0 5.0 5.0 30

 31 FA103070005 Trade receivables 160.9 396.4 81.2 186.9 124.0 -29.7 43.8 -281.0 -399.0 31

 32 FA103092005 U.S. direct investment abroad (4) 310.5 -157.6 77.5 -237.6 321.5 -61.1 287.1 -130.4 247.4 32

 33 FA103090005 Miscellaneous assets 46.2 583.4 324.1 158.4 -207.1 614.8 730.3 561.6 -163.4 33

 34 FA104194005 Net increase in liabilities and equity 472.9 986.2 1261.7 1524.6 1119.9 921.4 1481.0 2626.3 1333.4 34

 35 FA104122005 Debt securities 320.8 138.8 259.7 463.9 258.8 381.4 -65.3 666.9 1412.9 35

 36 FA103169100 Commercial paper 25.9 -10.2 -1.9 87.8 -61.6 -10.4 -23.5 -32.6 -282.4 36

 37 FA103162000 Municipal securities (5) 13.3 -4.2 14.2 13.7 5.7 13.8 23.5 14.9 -3.0 37

 38 FA103163003 Corporate bonds (4) 281.6 153.2 247.4 362.3 314.7 378.0 -65.3 684.6 1698.4 38

 39 FA104123005 Loans 60.8 133.9 196.3 304.1 159.5 247.9 73.8 1702.1 -14.7 39

 40 FA103168005 Depository institution loans n.e.c. -47.7 70.0 20.7 43.0 48.7 35.4 -44.3 1305.5 -9.2 40

 41 FA103169005 Other loans and advances (6) 147.7 4.2 128.8 179.9 98.0 139.5 97.8 334.9 -38.0 41

 42 FA103165005 Mortgages -39.2 59.7 46.9 81.2 12.9 73.0 20.3 61.7 32.5 42

 43 FA103164103 Corporate equities -325.6 -548.3 -453.2 -699.2 -172.9 -446.0 -494.8 -391.7 -67.9 43

 44 FA103170005 Trade payables 81.3 320.7 82.9 139.4 96.1 17.4 78.8 -156.8 -483.0 44

 45 FA103178005 Taxes payable 211.1 -10.6 -15.5 -8.0 -73.8 30.1 -10.3 43.2 145.6 45

 46 FA103192005 Foreign direct investment in U.S. 281.5 184.5 253.6 296.6 268.1 173.1 276.6 157.3 59.4 46

 47 FA103190005 Miscellaneous liabilities -157.0 767.0 937.8 1027.7 584.1 517.3 1622.1 605.1 281.1 47

 48 FA573074005 Pension fund contributions payable 19.2 -34.6 -0.9 -6.0 22.0 -10.3 -9.1 29.7 7.7 48

 49 FA573073005 Claims of pension fund on sponsor -67.0 80.1 -13.8 13.8 -96.4 23.8 3.8 -132.2 -64.8 49

 50 FA103193005 Other -109.2 721.5 952.5 1019.9 658.6 503.9 1627.5 707.7 338.2 50

 51 FA107005005 Discrepancy -168.4 114.3 467.9 1289.7 263.3 -424.0 742.8 -773.9 285.6 51

 Memo:

 52 FA105005305 Financing gap (7) 333.1 -342.1 76.4 156.0 53.0 92.4 4.2 7.5 -21.0 52

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

(2) Table F.5, line 61.

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

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

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

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

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

Z.1, September 21, 2020 19

F.104 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA116300005 Gross saving = consumption of fixed capital 321.8 336.3 349.8 345.2 348.6 351.5 353.8 357.1 359.5 1

 2 FA116000105 Gross saving less net capital transfers paid (1) 331.2 339.4 349.8 345.2 348.6 351.5 353.8 357.1 359.5 2

 3 FA116000105 Gross investment 331.2 339.4 349.8 345.2 348.6 351.5 353.8 357.1 359.5 3

 4 FA115050005 Capital expenditures 392.3 419.7 430.0 428.3 427.9 432.6 431.2 431.7 370.5 4

 5 FA115019005 Fixed investment (2) 393.0 415.3 431.4 424.4 429.4 435.1 436.9 441.4 414.9 5

 6 FA115020005 Change in inventories -0.7 4.4 -1.5 3.9 -1.5 -2.5 -5.7 -9.7 -44.4 6

 7 FA115000005 Net lending (+) or net borrowing (-) -61.1 -80.4 -80.2 -83.1 -79.3 -81.1 -77.4 -74.6 -11.0 7

 8 FA114090005 Net acquisition of financial assets 613.7 416.8 367.3 355.9 314.6 417.0 381.7 785.5 970.2 8

 9 FA113020005 Checkable deposits and currency 26.8 20.2 22.8 22.3 20.2 25.5 23.1 227.8 238.2 9

 10 FA113030003 Time and savings deposits 91.1 78.2 66.7 65.0 57.7 76.3 67.8 303.2 229.5 10

 11 FA113034003 Money market funds 9.1 7.8 6.7 6.5 5.8 7.6 6.8 30.2 12.9 11

 12 FA114022005 Debt securities 6.9 7.0 1.5 -0.5 -3.6 -0.0 10.2 -3.1 11.9 12

 13 FA113061003 Treasury securities 6.1 6.4 1.4 -0.3 -3.5 -0.2 9.7 -5.3 11.7 13

 14 FA113062003 Municipal securities 0.8 0.6 0.1 -0.2 -0.1 0.2 0.4 2.2 0.2 14

 15 FA114023005 Loans 8.4 3.8 3.2 3.1 2.8 3.7 3.3 14.5 6.2 15

 16 FA113065005 Mortgages 8.4 3.8 3.2 3.1 2.8 3.7 3.3 14.5 6.2 16

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

 18 FA113070005 Trade receivables 55.0 62.8 53.6 52.1 46.4 61.3 54.5 43.4 269.9 18

 19 FA113090005 Miscellaneous assets 416.4 237.0 212.9 207.4 185.3 242.5 216.2 169.4 201.6 19

 20 FA113076005 Insurance receivables 4.1 -1.3 10.0 7.1 11.7 9.5 11.7 4.2 10.3 20

 21 FA113092405 Equity investment in GSEs (3) 2.6 0.2 0.3 -0.1 0.5 0.7 -0.0 -0.5 0.7 21

 22 FA113093005 Other 409.7 238.1 202.6 200.4 173.1 232.3 204.6 165.8 190.6 22

 23 FA114190005 Net increase in liabilities 674.8 497.1 447.5 439.0 393.9 498.0 459.1 860.1 981.1 23

 24 FA114123005 Loans 464.3 333.6 290.5 283.2 256.0 317.8 305.0 619.3 980.8 24

 25 FA113168005 Depository institution loans n.e.c. 128.9 103.7 28.9 80.0 42.9 -29.7 22.4 357.3 546.0 25

 26 FA113169005 Other loans and advances 3.7 8.4 7.8 -2.6 13.2 1.3 19.4 14.0 214.5 26

 27 FA113165005 Mortgages 331.7 221.5 253.8 205.9 200.0 346.2 263.2 248.0 220.3 27

 28 FA113170005 Trade payables 7.8 74.2 61.9 55.6 51.6 82.3 58.2 62.1 -171.1 28

 29 FA113178003 Taxes payable 4.6 6.4 5.5 5.3 4.7 6.3 5.6 24.8 70.6 29

 30 FA115114005 Foreign direct investment in U.S. 2.4 21.0 -0.3 3.1 -0.7 -2.0 -1.5 0.2 2.9 30

 31 FA113193003 Miscellaneous liabilities 104.4 88.9 75.8 73.8 65.6 86.7 77.0 114.3 97.1 31

 32 FA112090205 Proprietors’ net investment 91.3 -27.0 14.1 18.1 16.7 6.9 14.8 39.3 0.8 32

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

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

(3) Equity in the Farm Credit System.
Transactions

20 Z.1, September 21, 2020

F.105 General Government (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA366010115 Current receipts, NIPA basis 6039.5 6210.8 6454.1 6368.7 6476.8 6451.3 6519.6 6538.0 6957.7 1

 2 FA366210005 Personal current taxes 2046.7 2085.3 2202.9 2170.7 2222.5 2197.1 2221.2 2252.4 2095.3 2

 3 FA366240005 Taxes on production and imports 1364.0 1444.8 1491.4 1473.8 1480.7 1501.6 1509.6 1530.0 1432.5 3

 4 FA366231005 Taxes on corporate income 299.6 271.0 286.8 282.3 292.9 271.4 300.8 243.2 227.8 4

 5 FA316231061 Taxes from the rest of the world 24.5 26.3 27.7 27.1 27.8 27.9 27.9 29.1 26.7 5

 6 FA366601005 Contributions for govt. social insurance 1303.7 1365.6 1424.0 1413.9 1419.9 1424.1 1438.1 1456.8 1385.3 6

 7 FA366150105 Income receipts on assets 229.9 217.3 208.1 206.5 218.6 198.4 208.8 210.6 211.4 7

 8 FA366403105 Current transfer receipts 776.4 806.4 820.9 801.4 822.1 838.8 821.1 828.7 1601.6 8

 9 FA366402105 Current surplus of government enterprises -5.3 -5.8 -7.6 -6.9 -7.7 -8.0 -7.9 -12.8 -22.8 9

 10 FA366900015 Current expenditures, NIPA basis 7000.8 7356.1 7708.8 7598.2 7685.0 7755.2 7796.9 7891.5 12100.3 10

 11 FA366901005 Consumption expenditures 2742.7 2891.3 2995.1 2950.8 2987.7 3009.2 3032.5 3046.0 3052.1 11

 12 FA366404005 Government social benefits 2828.0 2945.7 3102.0 3061.1 3094.8 3119.1 3133.1 3214.5 5670.6 12

 13 FA366403005 Other current transfer payments 605.8 634.0 658.5 646.5 658.9 660.8 667.7 682.3 1445.0 13

 14 FA366130005 Interest payments 764.4 821.8 879.4 868.4 882.5 884.1 882.4 873.7 845.8 14

 15 FA366402005 Subsidies 59.9 63.3 73.9 71.3 61.1 82.0 81.1 75.1 1086.8 15

 16 FA366006005 Net saving, NIPA basis -961.3 -1145.4 -1254.7 -1229.5 -1208.2 -1303.9 -1277.3 -1353.5 -5142.6 16

 17 FA366300005 + Consumption of fixed capital 543.2 566.1 588.3 580.3 585.8 591.4 595.6 600.3 604.2 17

 18 FA313154015 - Insurance and pension fund reserves (2) -2.1 -2.0 -2.1 -3.1 -1.0 -2.1 -2.1 -3.6 -4.4 18

 19 FA365440095 - Net capital transfers (3) -253.9 -12.7 -7.7 -5.8 -10.3 -9.8 -4.7 -2.5 -15.0 19

 20 FA366000105 = Gross saving less net capital transfers -162.0 -564.6 -656.7 -640.3 -611.1 -700.6 -674.8 -747.2 -4519.0 20

 21 FA365090005 Gross investment -68.9 -490.1 -648.9 -1380.1 -589.2 -290.0 -336.2 -897.2 -4682.1 21

 22 FA365019005 Fixed investment 664.3 703.9 752.8 730.7 749.9 757.9 772.8 788.1 790.3 22

 23 FA365420005 Nonproduced nonfinancial assets 11.9 15.4 14.1 10.2 14.8 15.1 16.3 17.9 24.1 23

 24 FA365000005 Net lending (+) or net borrowing (-) -745.1 -1209.4 -1415.8 -2121.0 -1354.0 -1063.0 -1125.3 -1703.2 -5496.5 24

 25 FA364090005 Net acquisition of financial assets 143.1 292.6 136.1 41.4 -577.0 672.4 407.7 345.8 7003.9 25

 26 FA313011005 U.S. official reserve assets -1.7 5.0 4.6 0.8 9.3 7.4 0.8 -1.0 19.8 26

 27 FA363020005 Checkable deposits and currency -172.6 165.9 7.2 -80.8 -282.1 433.3 -41.6 658.2 4953.1 27

 28 FA363030005 Time and savings deposits 14.5 8.0 20.0 28.2 27.1 14.8 10.0 53.0 18.4 28

 29 FA213034003 Money market fund shares 0.3 -2.1 6.8 3.5 5.9 9.3 8.3 20.6 8.7 29

 30 FA212051003 Security repurchase agreements 1.6 -5.5 3.2 2.7 -24.2 13.7 20.6 -32.4 3.3 30

 31 FA364022005 Debt securities -8.9 -51.7 -20.3 -86.4 -373.3 83.3 295.2 -285.4 611.5 31

 32 FA213069103 Open market paper 0.8 -2.6 1.5 1.3 -11.5 6.5 9.8 -15.4 5.3 32

 33 FA213061105 Treasury securities -11.0 -39.0 -0.8 -41.2 -193.8 47.3 184.6 -198.1 417.7 33

 34 FA363061705 Agency- and GSE-backed securities 3.1 -15.3 -6.6 -17.5 -108.5 25.4 74.0 -67.8 92.9 34

 35 FA213062003 Municipal securities -0.2 -0.2 -0.4 -1.0 -3.4 0.8 2.2 -2.4 4.2 35

 36 FA363063005 Corporate and foreign bonds -1.6 5.4 -14.1 -27.9 -56.1 3.2 24.5 -1.6 91.4 36

 37 FA364023005 Loans 98.7 90.6 98.8 113.8 46.8 121.4 113.2 25.0 550.9 37

 38 FA363065005 Mortgages 3.1 -5.1 5.8 7.4 -50.7 32.9 33.8 -44.6 19.2 38

 39 FA313066220 Consumer credit 96.3 90.7 83.0 87.8 91.5 87.9 64.8 83.7 76.9 39

 40 FA313069005 Other loans and advances -0.7 5.0 10.0 18.6 6.0 0.7 14.6 -14.0 454.8 40

 41 FA363064105 Corporate equities -3.5 0.6 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 41

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

 43 FA363070005 Trade receivables 6.3 38.0 8.8 3.9 19.0 11.3 0.8 -18.4 -35.1 43

 44 FA363078005 Taxes receivable 225.5 22.3 -15.4 -3.8 -39.1 -50.0 31.3 -29.6 373.5 44

 45 FA363090005 Miscellaneous assets -18.2 20.3 24.7 61.7 35.7 30.0 -28.8 -42.1 502.1 45

 46 FA364190005 Net increase in liabilities 888.3 1502.0 1551.9 2162.4 776.9 1735.4 1533.0 2049.0 12500.4 46

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

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

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

 50 FA364122005 Debt securities 446.5 1359.0 1183.8 825.2 512.3 2434.6 962.9 2194.1 11705.0 50

 51 FA313161105 Treasury securities 447.0 1411.2 1176.6 849.1 570.4 2410.8 876.1 2168.3 11598.7 51

 52 FA313161705 Budget agency securities -0.1 -1.5 -1.7 -3.0 -0.8 -2.2 -1.0 -0.1 -0.7 52

 53 FA213162005 Municipal securities -0.4 -50.8 8.9 -20.9 -57.3 26.0 87.8 25.9 106.9 53

 54 FA364123005 Loans 152.1 -150.6 16.9 862.2 6.7 -773.5 -27.9 -0.1 -62.2 54

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

 56 FA363169005 Other loans and advances 152.1 -150.6 16.9 862.2 6.7 -773.5 -27.9 -0.1 -62.2 56

 57 FA363170005 Trade payables 62.9 105.0 66.5 65.8 52.6 59.2 88.2 44.2 639.1 57

 58 FA313140003 Insurance reserves -0.2 0.2 0.9 2.0 -0.4 1.6 0.3 -0.6 -0.0 58

 59 FA363190005 Miscellaneous liabilities 226.9 188.4 283.9 407.1 205.7 13.5 509.4 -188.6 218.5 59

 60 FA367005005 Discrepancy -93.1 -74.5 -7.8 739.8 -21.9 -410.6 -338.6 149.9 163.1 60

 Memo:

 61 FA374090005 Net acquisition of financial assets (consolidated) (4) 153.9 330.7 136.2 82.6 -380.8 623.2 219.8 545.8 6581.4 61

 62 FA374190005 Net increase in liabilities (consolidated) (4) 899.0 1540.1 1552.0 2203.6 973.1 1686.2 1345.1 2249.0 12077.8 62

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

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

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

(3) Table F.5, line 63 less line 12.

(4) Excludes Treasury securities and municipal securities held by state and local governments (lines 33 and 35) and federal government loans to state and local governments (line 56).
Transactions

Z.1, September 21, 2020 21

F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA316010105 Current receipts, NIPA basis 3524.3 3567.6 3711.2 3674.1 3704.5 3702.4 3763.7 3753.1 3468.3 1

 2 FA316210001 Personal current taxes 1614.6 1617.5 1713.0 1695.5 1703.1 1713.2 1740.2 1756.6 1599.7 2

 3 FA316240001 Taxes on production and imports 130.9 162.8 173.7 172.1 168.3 175.1 179.2 183.8 131.1 3

 4 FA316231001 Taxes on corporate income 245.4 210.6 217.3 213.8 224.2 201.6 229.7 180.5 173.4 4

 5 FA316231061 Taxes from the rest of the world 24.5 26.3 27.7 27.1 27.8 27.9 27.9 29.1 26.7 5

 6 FA316601001 Contributions for govt. social insurance 1283.7 1344.6 1402.2 1391.9 1397.8 1402.3 1416.9 1436.4 1366.2 6

 7 FA316150105 Income receipts on assets 139.1 122.7 111.3 110.3 122.2 101.6 111.2 112.8 113.7 7

 8 FA316403105 Current transfer receipts 85.2 83.9 67.8 64.9 63.0 82.9 60.5 54.8 57.9 8

 9 FA316402101 Current surplus of government enterprises 0.9 -0.6 -1.9 -1.6 -1.9 -2.1 -2.0 -1.0 -0.3 9

 10 FA316900005 Current expenditures, NIPA basis 4246.8 4499.3 4758.1 4690.1 4737.5 4786.4 4818.6 4903.9 9127.4 10

 11 FA316901001 Consumption expenditures 985.1 1043.5 1097.3 1076.0 1094.9 1104.6 1113.7 1118.0 1167.6 11

 12 FA316404001 Government social benefits 2120.6 2218.5 2347.5 2322.4 2339.6 2355.7 2372.1 2447.4 4869.5 12

 13 FA316403001 Other current transfer payments 605.8 634.0 658.5 646.5 658.9 660.8 667.7 682.3 1445.0 13

 14 FA316130001 Interest payments 475.9 540.5 581.6 574.5 583.6 583.9 584.5 581.7 559.1 14

 15 FA316402001 Subsidies 59.3 62.7 73.3 70.7 60.5 81.4 80.5 74.5 1086.2 15

 16 FA316006005 Net saving, NIPA basis -722.4 -931.7 -1047.0 -1016.0 -1033.0 -1084.1 -1054.9 -1150.8 -5659.1 16

 17 FA316300001 + Consumption of fixed capital 277.0 285.8 294.8 292.1 293.1 295.8 298.3 300.5 303.6 17

 18 FA313154015 - Insurance and pension reserves (1) -2.1 -2.0 -2.1 -3.1 -1.0 -2.1 -2.1 -3.6 -4.4 18

 19 FA315440095 - Net capital transfers paid (2) -181.9 59.5 66.1 67.4 61.8 64.6 70.6 75.6 67.4 19

 20 FA316000105 = Gross saving less net capital transfers paid -261.3 -703.4 -816.2 -788.2 -800.8 -850.8 -825.0 -922.3 -5418.5 20

 21 FA315090005 Gross investment -202.9 -660.6 -788.6 -1484.0 -709.0 -416.6 -544.9 -1102.0 -5546.3 21

 22 FA315019001 Fixed investment 278.7 295.9 321.9 312.8 315.7 324.7 334.3 334.6 341.7 22

 23 FA315420003 Nonproduced nonfinancial assets -2.2 -0.8 -2.7 -6.4 -1.9 -1.8 -0.9 -0.5 -0.1 23

 24 FA315000005 Net lending (+) or net borrowing (-) -479.4 -955.8 -1107.8 -1790.4 -1022.8 -739.5 -878.2 -1436.1 -5887.9 24

 25 FA314090005 Net acquisition of financial assets 155.5 323.0 84.2 36.9 -217.1 474.6 42.3 676.5 6167.9 25

 26 FA313011005 U.S. official reserve assets -1.7 5.0 4.6 0.8 9.3 7.4 0.8 -1.0 19.8 26

 27 FA313020005 Checkable deposits and currency -170.2 173.5 1.0 -77.0 -284.9 423.0 -57.0 642.6 4840.1 27

 28 FA313030003 Time and savings deposits 0.4 0.1 0.3 0.1 1.0 1.3 -1.3 -1.6 0.6 28

 29 FA314022005 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FA313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA313063763 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FA314023005 Loans 95.8 99.1 93.6 109.3 84.5 99.7 80.7 75.8 537.3 32

 33 FA313069005 Other loans and advances -0.7 5.0 10.0 18.6 6.0 0.7 14.6 -14.0 454.8 33

 34 FA313065005 Mortgages 0.2 3.4 0.6 3.0 -13.0 11.2 1.3 6.1 5.6 34

 35 FA313066220 Consumer credit (3) 96.3 90.7 83.0 87.8 91.5 87.9 64.8 83.7 76.9 35

 36 FA313064105 Corporate equities (4) -0.1 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FA313070000 Trade receivables 0.1 10.4 -1.4 2.8 2.7 -4.5 -6.6 0.7 4.3 37

 38 FA313078000 Taxes receivable 220.4 15.9 -20.9 -7.1 -41.8 -58.2 23.5 -51.8 305.5 38

 39 FA313090005 Miscellaneous assets 10.9 15.0 7.0 8.0 12.1 5.8 2.1 11.9 460.4 39

 40 FA314190005 Net increase in liabilities 634.9 1278.8 1191.9 1827.3 805.7 1214.1 920.6 2112.7 12055.8 40

 41 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 FA313112003 Treasury currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 43

 44 FA314122005 Debt securities 447.0 1409.8 1174.9 846.1 569.6 2408.6 875.2 2168.2 11598.1 44

 45 FA313161105 Treasury securities (5) 447.0 1411.2 1176.6 849.1 570.4 2410.8 876.1 2168.3 11598.7 45

 46 FA313161205 Marketable 554.4 1131.6 1062.7 1720.8 728.0 1111.5 690.6 1947.7 11004.8 46

 47 FA313161305 Nonmarketable -107.3 279.6 113.9 -871.7 -157.5 1299.3 185.6 220.6 593.9 47

 48 FA313161705 Budget agency securities -0.1 -1.5 -1.7 -3.0 -0.8 -2.2 -1.0 -0.1 -0.7 48

 49 FA314123005 Loans 151.7 -151.7 15.8 861.3 5.7 -774.6 -29.0 -0.6 -62.8 49

 50 FA313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 FA313169003 Other loans and advances 151.7 -151.7 15.8 861.3 5.7 -774.6 -29.0 -0.6 -62.8 51

 52 FA313170005 Trade payables 17.5 56.9 17.0 17.2 3.0 9.7 38.3 -6.2 591.3 52

 53 FA313140003 Insurance reserves -0.2 0.2 0.9 2.0 -0.4 1.6 0.3 -0.6 -0.0 53

 54 FA313190005 Miscellaneous liabilities 19.0 -36.4 -16.7 100.7 227.8 -431.3 35.9 -48.2 -70.7 54

 55 FA343073045 Claims of pension fund on sponsor 6.2 -51.9 -35.0 72.7 191.6 -403.6 -0.7 -47.8 -68.4 55

 56 FA313190015 Other 12.8 15.5 18.3 28.0 36.2 -27.7 36.5 -0.4 -2.3 56

 57 FA317005005 Discrepancy -58.4 -42.8 -27.6 695.9 -91.9 -434.2 -280.1 179.7 127.8 57

 Memo:

 58 FA314000105 Change in cash balance (6) -170.2 173.2 1.8 -123.6 -219.9 362.9 -12.0 557.7 4939.0 58

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

(2) Table F.5, line 64 less line 12.

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

 the government purchased from depository institutions and finance companies.

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

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

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

22 Z.1, September 21, 2020

F.107 State and Local Governments

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA216010105 Current receipts, NIPA basis 2515.2 2643.2 2742.9 2694.6 2772.3 2748.9 2755.9 2785.0 3489.4 1

 2 FA216210001 Personal current taxes 432.1 467.8 489.9 475.2 519.4 483.9 480.9 495.8 495.7 2

 3 FA216240001 Taxes on production and imports 1233.0 1282.0 1317.7 1301.6 1312.4 1326.5 1330.4 1346.2 1301.4 3

 4 FA216231001 Taxes on corporate income 54.2 60.5 69.5 68.5 68.7 69.8 71.0 62.7 54.4 4

 5 FA216601001 Contributions for govt. social insurance 20.0 21.0 21.7 22.0 22.1 21.8 21.1 20.4 19.1 5

 6 FA216150105 Income receipts on assets 90.8 94.6 96.8 96.2 96.4 96.8 97.6 97.8 97.7 6

 7 FA216403105 Current transfer receipts 691.2 722.5 753.0 736.4 759.1 756.0 760.6 773.8 1543.7 7

 8 FA216402101 Current surplus of government enterprises -6.2 -5.2 -5.7 -5.3 -5.7 -5.9 -5.9 -11.8 -22.5 8

 9 FA216900005 Current expenditures, NIPA basis 2754.0 2856.8 2950.7 2908.1 2947.5 2968.8 2978.3 2987.7 2973.0 9

 10 FA216901001 Consumption expenditures 1757.6 1847.8 1897.8 1874.8 1892.8 1904.6 1918.8 1928.0 1884.6 10

 11 FA216404001 Govt. social benefit payments to persons 707.5 727.2 754.6 738.7 755.2 763.4 761.0 767.1 801.1 11

 12 FA216403001 Other current transfer payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA216130001 Interest payments 288.4 281.3 297.7 294.0 298.9 300.2 297.9 292.0 286.7 13

 14 FA216402001 Subsidies 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 14

 15 FA216006005 Net saving, NIPA basis -238.8 -213.7 -207.7 -213.5 -175.2 -219.8 -222.4 -202.7 516.5 15

 16 FA216300001 + Consumption of fixed capital 266.2 280.3 293.5 288.2 292.7 295.6 297.3 299.7 300.6 16

 17 FA215440005 - Net capital transfers paid (1) -71.9 -72.2 -73.8 -73.2 -72.1 -74.4 -75.3 -78.1 -82.4 17

 18 FA216000105 = Gross saving less net capital transfers paid 99.3 138.8 159.5 147.9 189.7 150.2 150.1 175.1 899.5 18

 19 FA215090005 Gross investment 134.0 170.6 139.8 104.0 119.8 126.6 208.7 204.8 864.3 19

 20 FA215019001 Fixed investment 385.6 407.9 431.0 417.9 434.2 433.2 438.5 453.6 448.6 20

 21 FA215420003 Nonproduced nonfinancial assets 14.2 16.2 16.8 16.6 16.7 16.9 17.2 18.4 24.2 21

 22 FA215000005 Net lending (+) or net borrowing (-) -265.7 -253.6 -308.0 -330.5 -331.2 -323.4 -247.1 -267.1 391.4 22

 23 FA214090005 Net acquisition of financial assets -12.4 -30.3 51.9 4.5 -360.0 197.9 365.4 -330.8 836.0 23

 24 FA213020005 Checkable deposits and currency -2.5 -7.6 6.2 -3.8 2.8 10.3 15.3 15.6 113.0 24

 25 FA213030000 Time and savings deposits 14.1 7.9 19.8 28.1 26.1 13.5 11.4 54.6 17.8 25

 26 FA213034003 Money market fund shares 0.3 -2.1 6.8 3.5 5.9 9.3 8.3 20.6 8.7 26

 27 FA212051003 Security repurchase agreements 1.6 -5.5 3.2 2.7 -24.2 13.7 20.6 -32.4 3.3 27

 28 FA214022005 Debt securities -8.9 -51.7 -20.3 -86.4 -373.3 83.3 295.2 -285.4 611.5 28

 29 FA213069103 Open market paper 0.8 -2.6 1.5 1.3 -11.5 6.5 9.8 -15.4 5.3 29

 30 FA213061105 Treasury securities -11.0 -39.0 -0.8 -41.2 -193.8 47.3 184.6 -198.1 417.7 30

 31 FA213061703 Agency- and GSE-backed securities 3.1 -15.3 -6.6 -17.5 -108.5 25.4 74.0 -67.8 92.9 31

 32 FA213062003 Municipal securities -0.2 -0.2 -0.4 -1.0 -3.4 0.8 2.2 -2.4 4.2 32

 33 FA213063003 Corporate and foreign bonds -1.6 5.4 -14.1 -27.9 -56.1 3.2 24.5 -1.6 91.4 33

 34 FA213065005 Loans (mortgages) 2.9 -8.4 5.2 4.4 -37.7 21.7 32.5 -50.7 13.6 34

 35 FA213064103 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 35

 36 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 36

 37 FA213070003 Trade receivables 6.2 27.6 10.1 1.1 16.3 15.8 7.4 -19.1 -39.4 37

 38 FA213078005 Taxes receivable 5.0 6.4 5.5 3.3 2.6 8.2 7.7 22.2 68.0 38

 39 FA213093003 Miscellaneous assets -29.1 5.3 17.7 53.8 23.6 24.2 -30.9 -54.0 41.7 39

 40 FA214190005 Net increase in liabilities 253.4 223.2 360.0 335.0 -28.8 521.3 612.4 -63.7 444.6 40

 41 FA213162005 Debt securities (municipal securities) -0.4 -50.8 8.9 -20.9 -57.3 26.0 87.8 25.9 106.9 41

 42 FA213162400 Short-term (2) 4.8 2.9 6.8 5.7 7.8 1.1 12.5 -6.0 8.7 42

 43 FA213162200 Long-term -5.2 -53.7 2.1 -26.6 -65.1 24.9 75.3 31.9 98.2 43

 44 FA213169203 Loans (U.S. government loans) 0.5 1.1 1.0 1.0 1.1 1.0 1.1 0.4 0.7 44

 45 FA213170003 Trade payables 45.4 48.1 49.4 48.6 49.6 49.5 50.0 50.3 47.9 45

 46 FA223073045 Claims of pension fund on sponsor (3) 207.9 224.9 300.6 306.3 -22.2 444.8 473.6 -140.4 289.1 46

 47 FA217005005 Discrepancy -34.7 -31.8 19.7 43.9 69.9 23.6 -58.6 -29.8 35.2 47

(1) Table F.5, line 65.

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

(3) Included in miscellaneous liabilities.
Transactions

Z.1, September 21, 2020 23

F.108 Domestic Financial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA796000105 Gross saving less net capital transfers paid 159.7 281.1 370.7 373.4 354.1 406.4 348.8 395.2 363.7 1

 2 FA795090005 Gross investment 478.5 450.5 459.9 814.7 254.6 484.7 285.3 317.3 93.2 2

 3 FA795019005 Capital expenditures 254.0 276.0 295.1 292.1 292.2 297.7 298.4 285.7 240.5 3

 4 FA125012063 Fixed residential investment -1.7 3.5 7.1 7.3 5.2 8.0 8.0 5.9 -0.7 4

 5 FA795013005 Fixed nonresidential investment 255.6 272.6 288.0 284.9 287.1 289.8 290.4 279.8 241.2 5

 6 FA795000005 Net lending (+) or net borrowing (-) 224.5 174.4 164.7 522.6 -37.6 187.0 -13.1 31.5 -147.3 6

 7 FA794090005 Net acqisition of financial assets 2901.2 1683.6 3341.9 3307.5 2957.7 4487.6 2614.6 20622.4 9987.2 7

 8 FA713011005 U.S. official reserve assets 0.0 0.0 0.1 0.1 0.1 0.1 -0.0 0.1 0.1 8

 9 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA713012003 Treasury currency 0.8 0.4 0.3 0.4 0.3 0.3 0.3 0.4 0.3 10

 11 FA633091003 Foreign deposits 1.9 -2.2 5.8 -0.3 2.8 7.1 13.8 -14.5 -6.6 11

 12 FA794010005 Net interbank assets 196.0 -388.1 -5.6 82.7 -633.3 27.5 500.7 4102.3 1246.6 12

 13 FA793020005 Checkable deposits and currency 48.5 -92.6 71.9 -45.0 231.5 -55.4 156.5 1229.9 -590.2 13

 14 FA793030005 Time and savings deposits 32.6 3.6 62.4 61.1 128.6 -28.0 88.0 -81.7 -60.3 14

 15 FA793034005 Money market fund shares 12.6 22.2 63.2 56.4 102.3 71.7 22.5 428.8 197.7 15

 16 FA792050005 Federal funds and security repos 259.5 434.6 582.9 533.1 697.9 1213.7 -112.8 1465.7 -3020.0 16

 17 FA794022005 Debt securities 860.4 988.1 1160.9 147.5 -37.6 2965.4 1568.3 5661.0 12552.6 17

 18 FA793069175 Open market paper 95.9 3.8 -40.9 145.1 -101.8 -215.2 8.4 -117.8 -401.0 18

 19 FA793061105 Treasury securities 154.0 721.8 691.7 -776.1 -229.5 2266.8 1505.5 4135.8 10609.8 19

 20 FA793061705 Agency- and GSE-backed securities 254.3 -22.4 165.7 199.5 239.9 233.5 -10.1 1177.8 1285.2 20

 21 FA793062005 Municipal securities 46.9 -47.6 67.7 42.6 39.8 107.4 80.9 0.5 135.2 21

 22 FA793063005 Corporate and foreign bonds 309.1 332.6 276.7 536.5 13.9 572.8 -16.5 464.7 923.4 22

 23 FA794023005 Loans 1088.5 754.0 830.1 1474.9 1007.1 200.4 638.2 4305.2 -1133.2 23

 24 FA793068005 Depository institution loans n.e.c. 109.8 280.3 142.2 60.1 307.2 123.2 78.5 2592.2 125.4 24

 25 FA793069005 Other loans and advances 293.3 -197.4 -14.7 778.5 12.9 -778.5 -71.8 1042.8 -1482.0 25

 26 FA793065005 Mortgages 583.7 576.6 599.6 531.8 585.9 737.5 543.0 701.6 557.5 26

 27 FA793066005 Consumer credit 101.7 94.5 103.1 104.5 101.2 118.1 88.5 -31.5 -334.2 27

 28 FA793064105 Corporate equities 80.5 -136.2 -308.2 -282.1 265.6 -587.4 -629.0 552.2 -161.9 28

 29 FA793064205 Mutual fund shares -32.1 -105.3 -121.0 -142.8 32.1 -77.4 -296.0 -299.1 -71.1 29

 30 FA793070005 Trade receivables 19.0 18.5 13.7 25.2 35.4 9.1 -14.9 113.1 10.9 30

 31 FA793040005 Life insurance reserves 44.6 -28.3 17.4 14.4 18.8 22.4 14.1 28.1 3.4 31

 32 FA543050005 Pension entitlements 7.8 100.1 7.7 6.3 7.6 12.2 4.7 34.8 -5.6 32

 33 FA793092005 U.S. direct investment abroad 42.8 -11.7 41.4 50.0 28.1 55.0 32.6 55.4 -4.7 33

 34 FA793090005 Miscellaneous assets 237.8 126.5 918.7 1325.7 1070.6 651.0 627.6 3040.8 1029.3 34

 35 FA794190005 Net increase in liabilities 2676.7 1509.2 3177.1 2784.9 2995.3 4300.6 2627.7 20590.9 10134.6 35

 36 FA794110005 Net interbank liabilities 297.5 -354.1 -100.0 146.8 -1211.9 150.0 515.1 5765.6 195.0 36

 37 FA793120005 Checkable deposits and currency 145.4 315.4 261.4 -279.7 172.8 854.3 298.0 3779.0 7872.0 37

 38 FA703130005 Time and savings deposits 338.4 530.1 683.4 746.8 790.9 547.0 649.0 2319.2 3134.4 38

 39 FA634090005 Money market fund shares 117.2 189.9 596.0 452.6 627.7 793.3 510.4 3093.7 1300.9 39

 40 FA792150005 Federal funds and security repos 59.8 15.4 224.9 -80.4 900.5 456.2 -376.9 1084.0 -2408.1 40

 41 FA794122005 Debt securities 339.8 358.7 444.7 485.9 522.4 497.1 273.6 2218.4 104.1 41

 42 FA793169175 Open market paper -36.8 33.9 -33.2 -22.2 -22.1 -86.0 -2.7 31.4 -98.0 42

 43 FA423161705 Agency- and GSE-backed securities 346.9 246.9 319.5 296.4 355.6 350.5 275.7 1507.8 -220.3 43

 44 FA793163005 Corporate and foreign bonds 29.6 77.8 158.4 211.7 188.9 232.6 0.6 679.2 422.3 44

 45 FA794123005 Loans -13.5 -10.7 -68.1 -130.4 -80.1 42.2 -103.9 1802.1 -1514.1 45

 46 FA793168005 Depository institution loans n.e.c. 8.0 9.4 0.1 -9.0 -7.7 14.6 2.5 443.0 -276.3 46

 47 FA793169005 Other loans and advances -27.1 -4.3 -70.6 -113.7 -69.2 25.4 -124.8 1355.4 -1229.5 47

 48 FA123165005 Mortgages 5.6 -15.8 2.4 -7.7 -3.2 2.2 18.5 3.7 -8.3 48

 49 FA793164105 Corporate equities 418.9 198.4 209.6 135.4 324.7 205.0 173.4 281.2 626.6 49

 50 FA653164205 Mutual fund shares 318.4 -63.3 208.2 287.7 79.9 114.5 350.9 -1222.8 66.7 50

 51 FA793170005 Trade payables 46.5 -4.2 15.1 11.3 25.7 34.1 -10.7 112.3 11.9 51

 52 FA543140005 Life insurance reserves 43.4 43.3 31.7 19.5 32.5 75.1 -0.2 123.3 -44.4 52

 53 FA583150005 Pension entitlements 485.3 338.0 424.4 444.3 433.7 476.9 342.7 566.8 224.8 53

 54 FA793178005 Taxes payable 60.7 -0.7 12.9 -6.6 1.7 33.6 22.8 -40.6 22.0 54

 55 FA662090003 Equity in noncorporate business 1.0 9.5 5.2 0.7 -0.0 8.8 11.5 5.3 14.6 55

 56 FA793192005 Foreign direct investment in U.S. 31.1 37.9 28.7 30.3 17.8 32.9 33.9 12.5 2.9 56

 57 FA793190005 Miscellaneous liabilities -13.0 -94.5 198.9 520.6 357.0 -20.3 -62.0 691.0 525.4 57

 58 FA797005005 Discrepancy -318.8 -169.4 -89.2 -441.3 99.4 -78.3 63.5 77.9 270.6 58

(1) Sum of financial sectors shown on tables F.109 through F.132.
Transactions

24 Z.1, September 21, 2020

F.109 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA716000105 Gross saving -2.3 2.5 -2.4 8.5 -2.1 -2.8 -13.2 -2.7 -2.7 1

 2 FA715013005 Fixed nonresidential investment 0.7 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 2

 3 FA714090005 Net acquisition of financial assets -2.6 -389.8 116.4 -398.9 -519.4 538.7 845.3 6279.0 4645.8 3

 4 FA713011005 U.S. official reserve assets 0.0 0.0 0.1 0.1 0.1 0.1 -0.0 0.1 0.1 4

 5 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA713012003 Treasury currency 0.8 0.4 0.3 0.4 0.3 0.3 0.3 0.4 0.3 6

 7 FA713022003 Federal Reserve float -0.1 0.2 0.1 -0.1 -0.1 0.3 0.4 -0.0 -0.3 7

 8 FA713068705 Interbank loans 0.1 -0.1 -0.0 -0.2 0.4 -0.0 -0.3 306.4 27.3 8

 9 FA713068703 Discount window (2) 0.1 -0.1 -0.0 -0.2 0.4 -0.0 -0.3 196.2 -167.6 9

 10 FA763069143 AMLF and MMLF loans (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 110.2 -63.2 10

 11 FA713068725 PPPLF loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 258.1 11

 12 FA712051000 Security repurchase agreements 0.0 0.0 255.6 0.0 0.0 810.0 212.5 28.4 -819.1 12

 13 FA714022005 Debt securities -10.9 -379.5 -137.5 -382.3 -518.9 -264.5 615.8 4281.5 6046.3 13

 14 FA713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA713061103 Treasury securities -21.7 -243.3 99.1 -198.0 -270.7 6.3 859.0 4077.9 4137.3 15

 16 FA713061113 Treasury bills 0.0 0.0 168.5 0.0 0.0 23.8 650.0 625.5 2.8 16

 17 FA713061125 Other Treasury securities -21.7 -243.3 -69.3 -198.0 -270.7 -17.5 209.0 3452.4 4134.5 17

 18 FA713061705 Agency- and GSE-backed securities 10.8 -136.2 -236.6 -184.3 -248.2 -270.8 -243.2 203.7 1909.0 18

 19 FA713061903 Mortgage-backed securities 22.7 -134.2 -236.5 -184.0 -248.2 -270.8 -243.2 203.7 1909.0 19

 20 FA713061703 Other agency- and GSE-baked securities -11.9 -2.0 -0.1 -0.3 -0.0 -0.0 -0.0 -0.0 -0.0 20

 21 FA713068005 Loans (depository institution loans n.e.c.) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 234.9 -110.2 21

 22 FA713068813 Households (TALF I) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA713068665 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 234.9 -186.4 23

 24 FA713068863 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14.8 24

 25 FA713068505 Other financial business (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 61.5 25

 26 FA713064103 Corporate equities (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA713090005 Miscellaneous assets 7.4 -10.8 -2.2 -16.8 -1.1 -7.5 16.6 1427.3 -498.7 27

 28 FA713091103 Nonofficial foreign currencies (9) 6.5 -7.9 -0.5 -11.4 -5.4 3.8 11.0 1415.8 -523.2 28

 29 FA713093005 Other 0.9 -3.0 -1.7 -5.4 4.2 -11.3 5.6 11.5 24.4 29

 30 FA714190005 Net increase in liabilities -2.6 -386.6 116.4 -398.9 -519.5 538.7 845.3 6279.0 4645.7 30

 31 FA713113003 Depository institution reserves 194.8 -393.1 -7.1 99.3 -637.3 23.2 486.4 3701.7 1251.0 31

 32 FA703025005 Vault cash of depository institutions 1.2 4.9 1.4 -16.4 3.8 4.0 14.1 94.2 -31.4 32

 33 FA713120005 Checkable deposits and currency -38.3 259.5 89.6 -105.4 -141.5 513.3 92.1 1659.6 4914.6 33

 34 FA713123005 Due to federal government -170.2 173.2 1.7 -123.0 -220.9 360.2 -9.6 559.5 4937.5 34

 35 FA713123023 Treasury cash holdings 0.0 0.0 -0.0 0.5 -0.6 -0.0 -0.0 0.6 -1.0 35

 36 FA713123030 Treasury general deposit account -170.3 173.2 1.7 -123.5 -220.3 360.2 -9.6 558.9 4938.5 36

 37 FA713123043 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 FA713124005 Due to government-sponsored enterprises -13.8 -6.8 2.1 -14.8 3.7 3.3 16.1 434.4 -312.2 38

 39 FA713129005 Due to other financial business (10) 38.3 -3.3 -1.1 -32.1 -5.2 50.1 -17.0 392.4 -107.1 39

 40 FA713122605 Due to rest of the world 0.1 -0.0 -0.1 -0.0 0.0 -0.2 -0.0 48.9 -4.7 40

 41 FA713125005 Currency outside banks 107.4 96.4 87.0 64.5 80.9 100.0 102.7 224.5 401.2 41

 42 FA712151003 Security repurchase agreements -161.3 -259.9 32.6 -194.7 320.1 -88.0 93.1 929.7 -1344.5 42

 43 FA712151103 Reverse repurchase agreement operations (11) -148.8 -277.7 22.2 -164.5 174.3 -149.0 228.1 883.3 -1135.8 43

 44 FA712151115 Other (12) -12.5 17.8 10.4 -30.2 145.8 61.0 -135.0 46.4 -208.7 44

 45 FA713190005 Miscellaneous liabilities 0.9 2.0 -0.1 -181.8 -64.5 86.2 159.6 -106.4 -144.0 45

 46 FA313094213 Treasury contributions to MMLF 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.0 46

 47 FA713164003 Federal Reserve Bank stock 0.9 0.9 -0.6 0.7 -0.5 0.4 -3.2 1.1 0.2 47

 48 FA713193005 Other -0.0 1.1 0.5 -182.6 -64.0 85.8 162.7 -107.4 -150.3 48

 49 FA717005005 Discrepancy -3.0 5.0 -3.1 7.8 -2.8 -3.5 -13.9 -3.3 -3.4 49

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

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

(3) Federal Reserve loans extended to U.S.-chartered depository institutions through the 2008-2010 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) and the

 2020 Money Market Mutual Fund Liquidity Facility (MMLF). The AMLF was dissolved in 2010:Q1.

(4) Loans extended to depository institutions through the Paycheck Protection Program Liquidity Facility (PPPLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the 2008 Term Asset-Backed Securities Loan Facility (TALF I).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF), AMLF (2008-2010), and MMLF (2020).

(7) Loans extended to Federal Reserve funding, credit, and liquidity facility special purpose vehicles created in response to the 2008 Financial Crisis and COVID-19 pandemic.

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

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. Series is zero after 2010:Q4.

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

(10) Deposits of designated financial market utilities (DFMU) and deposits of Federal Reserve facility LLC’s special purpose vehicles.

(11) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(12) Includes reverse repurchase agreements conducted through the Federal Reserve’s Foreign Repo Pool.
Transactions

Z.1, September 21, 2020 25

F.110 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA706000105 Gross saving less net capital transfers paid -67.5 31.7 -6.9 -40.0 -29.4 15.4 26.4 -0.2 31.5 1

 2 FA705013005 Fixed nonresidential investment 46.8 55.3 58.6 56.6 58.2 59.4 60.1 52.3 28.2 2

 3 FA705000005 Net lending (+) or net borrowing (-) 99.2 -142.0 -69.4 146.7 -351.6 33.8 -106.4 -543.2 -252.5 3

 4 FA704090005 Net acquisition of financial assets 866.7 417.5 760.9 988.4 469.3 864.4 721.7 7322.8 3394.9 4

 5 FA703025005 Vault cash 1.2 4.9 1.4 -16.4 3.8 4.0 14.1 94.2 -31.4 5

 6 FA713113003 Reserves at Federal Reserve 194.8 -393.1 -7.1 99.3 -637.3 23.2 486.4 3701.7 1251.0 6

 7 FA702050005 Federal funds and security repos 79.1 211.2 36.3 91.3 135.8 -91.0 9.1 -316.4 816.0 7

 8 FA704022005 Debt securities 133.7 98.7 237.0 227.7 263.7 446.2 10.4 693.3 1302.3 8

 9 FA703069175 Open market paper -0.0 0.2 0.5 0.4 0.6 0.0 1.1 112.0 -65.1 9

 10 FA703061105 Treasury securities -37.3 124.3 126.7 35.3 145.9 264.8 60.8 -69.5 842.2 10

 11 FA703061705 Agency- and GSE-backed securities 168.1 52.4 115.1 99.4 167.9 164.3 28.9 482.7 428.0 11

 12 FA703062005 Municipal securities 20.4 -40.0 -29.1 -38.5 -62.7 -3.8 -11.5 131.3 53.7 12

 13 FA703063005 Corporate and foreign bonds -17.5 -38.2 23.8 131.2 11.9 20.9 -69.0 36.7 43.4 13

 14 FA704023005 Loans 443.7 563.9 460.0 320.2 650.2 446.7 422.9 2601.2 -23.2 14

 15 FA703068005 Depository institution loans n.e.c. 109.8 280.3 142.2 60.1 307.2 123.2 78.5 2357.3 235.6 15

 16 FA703069005 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA703065005 Mortgages 216.0 170.3 215.6 152.6 245.2 204.2 260.5 253.9 88.7 17

 18 FA703066005 Consumer credit 117.9 113.3 102.2 107.6 97.9 119.3 84.0 -10.1 -347.5 18

 19 FA703064105 Corporate equities -2.0 2.5 0.8 2.4 1.9 -2.7 1.5 4.6 -5.5 19

 20 FA703064205 Mutual fund shares 0.2 -5.5 -1.8 -5.3 0.8 -0.4 -2.2 1.8 -2.6 20

 21 FA763040005 Life insurance reserves 6.4 3.9 6.7 5.4 8.2 5.8 7.3 3.6 5.3 21

 22 FA763092000 U.S. direct investment abroad 12.2 1.4 9.6 -2.0 -3.9 24.0 20.5 3.1 9.6 22

 23 FA703090005 Miscellaneous assets -2.7 -70.5 18.0 265.7 46.0 8.5 -248.3 535.7 73.3 23

 24 FA704190005 Net increase in liabilities 767.5 559.5 830.3 841.7 820.9 830.6 828.1 7866.0 3647.4 24

 25 FA704110005 Net interbank liabilities 101.5 34.1 -94.3 63.9 -578.3 122.8 14.6 1969.7 -1024.6 25

 26 FA703127005 Checkable deposits 183.6 55.9 171.7 -174.3 314.3 341.0 205.9 2119.3 2957.4 26

 27 FA703130005 Time and savings deposits 338.4 530.1 683.4 746.8 790.9 547.0 649.0 2319.2 3134.4 27

 28 FA702150005 Federal funds and security repos 87.0 -76.2 70.3 29.5 92.4 167.4 -8.1 347.5 -405.6 28

 29 FA704122005 Debt securities -65.4 27.0 -40.0 -59.0 -18.3 -77.6 -5.2 143.4 4.7 29

 30 FA703169175 Open market paper -30.3 14.7 -21.4 -35.1 -7.7 -36.4 -6.3 96.9 -14.0 30

 31 FA763163005 Corporate bonds -35.0 12.3 -18.7 -23.9 -10.7 -41.2 1.1 46.5 18.7 31

 32 FA703169005 Loans (other loans and advances) 28.2 -6.3 -97.8 -86.1 -90.9 -112.9 -101.3 709.5 -1144.1 32

 33 FA763164103 Corporate equity issues 2.8 -5.2 1.4 -6.8 1.3 6.9 3.9 -7.5 3.1 33

 34 FA763178003 Taxes payable (net) 32.6 5.4 14.5 -16.8 13.8 40.8 20.4 -67.0 9.9 34

 35 FA753192003 Foreign direct investment in U.S. 7.6 7.1 1.7 7.0 -2.1 -2.5 4.5 -2.4 -3.6 35

 36 FA703190005 Miscellaneous liabilities 51.0 -12.4 119.4 337.5 297.7 -202.2 44.4 334.3 115.8 36

 37 FA763194735 Investment by holding companies 26.8 4.8 103.0 67.7 267.7 -41.1 117.7 60.8 500.6 37

 38 FA753194503 Investment by other financial businesses -20.1 43.4 -3.5 61.7 -64.6 -14.5 3.2 11.4 -43.7 38

 39 FA703193005 Other 44.3 -60.6 19.9 208.1 94.6 -146.6 -76.5 262.1 -341.1 39

 40 FA707005005 Discrepancy -213.5 118.5 3.9 -243.3 264.0 -77.8 72.8 490.7 255.7 40

 Memo:

 41 FA763066303 Consumer leases not included above (2) 1.9 1.2 0.8 2.4 -1.2 1.7 0.2 0.9 -0.4 41

 42 FA703139105 Uninsured deposits (3) 263.1 201.3 516.1 -77.5 617.7 707.2 816.9 2987.7 2349.4 42

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

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

 The leased automobile is a nonfinancial asset; depreciation is included in line 1, and fixed investment is included in line 2.

(3) Includes checkable deposits (line 26) and time and savings deposits (line 27) not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
Transactions

26 Z.1, September 21, 2020

F.111 U.S.-Chartered Depository Institutions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA766000105 Gross saving less net capital transfers paid -87.1 8.3 -31.0 -64.1 -53.7 -8.7 2.7 -24.7 9.0 1

 2 FA765013005 Fixed nonresidential investment 35.2 41.3 45.0 43.2 44.7 45.8 46.5 38.8 15.5 2

 3 FA764090005 Net acquisition of financial assets 499.3 349.2 633.8 612.5 515.0 804.6 603.2 5156.3 4280.8 3

 4 FA763025000 Vault cash 1.2 4.9 1.4 -16.4 3.8 4.0 14.1 94.2 -31.4 4

 5 FA763013005 Reserves at Federal Reserve 47.3 -273.5 18.9 40.6 -367.4 125.8 276.7 2276.5 1962.5 5

 6 FA762050005 Federal funds and security repos 4.0 160.3 -24.3 -93.5 67.8 -176.2 104.6 -108.9 916.0 6

 7 FA764022005 Debt securities 110.5 76.4 242.8 259.2 225.9 421.9 64.2 580.8 1181.3 7

 8 FA763069175 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 110.2 -63.2 8

 9 FA763061100 Treasury securities -43.2 87.3 125.6 20.9 142.6 265.4 73.5 10.2 816.7 9

 10 FA763061705 Agency- and GSE-backed securities 148.7 66.8 102.7 98.8 161.0 138.2 12.7 466.4 243.1 10

 11 FA763061803 Residential mortgage pass-through securities 119.5 31.2 90.8 80.5 169.3 110.2 3.1 377.8 52.6 11

 12 FA763061503 Commercial mortgage pass-through securities 21.6 20.6 20.9 20.3 23.0 21.7 18.6 25.4 45.5 12

 13 FA763061603 Residential CMOs and other structured MBS -4.7 7.5 1.8 7.8 -18.6 17.0 1.2 47.0 116.4 13

 14 FA763061403 Commercial CMOs and other structured MBS 15.6 15.3 20.3 10.0 11.8 32.9 26.6 58.2 39.9 14

 15 FA763061795 Other -3.2 -7.8 -31.1 -19.7 -24.4 -43.6 -36.8 -42.1 -11.3 15

 16 FA763062000 Municipal securities 21.1 -39.8 -29.5 -38.3 -62.1 -2.2 -15.4 127.7 50.2 16

 17 FA763063005 Corporate and foreign bonds -16.1 -37.9 44.1 177.9 -15.6 20.6 -6.5 -133.6 134.5 17

 18 FA763063673 Private residential mortgage pass-through securities -4.5 -1.3 1.6 0.9 -1.4 3.3 3.5 2.0 -0.4 18

 19 FA763063653 Private commercial mortgage pass-through securities -0.4 -1.0 0.6 -0.1 -0.4 1.4 1.4 0.0 0.2 19

 20 FA763063663 Private residential CMOs and other structured MBS -7.2 -6.3 1.9 0.5 6.6 1.1 -0.6 13.0 9.1 20

 21 FA763063693 Private commercial CMOs and other structured MBS -6.7 3.3 2.3 6.2 1.5 1.4 -0.0 8.4 -2.0 21

 22 FA763063095 Other 2.7 -32.7 37.8 170.3 -21.8 13.4 -10.7 -157.0 127.6 22

 23 FA764023005 Loans 349.0 438.1 359.5 209.9 521.9 373.0 333.4 1881.1 170.9 23

 24 FA763068005 Depository institution loans n.e.c. 104.5 253.4 98.6 8.4 218.7 117.1 50.3 1735.1 463.9 24

 25 FA763069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FA763065005 Mortgages 164.7 122.2 172.0 122.3 203.1 157.9 204.5 177.1 30.2 26

 27 FA763066000 Consumer credit 79.8 62.5 89.0 79.2 100.0 98.1 78.6 -31.0 -323.2 27

 28 FA763064105 Corporate equities -2.0 2.5 0.8 2.4 1.9 -2.7 1.5 4.6 -5.5 28

 29 FA763064203 Mutual fund shares 0.0 -5.9 -2.1 -6.2 0.1 -0.2 -1.9 0.1 -2.8 29

 30 FA763040005 Life insurance reserves 6.4 3.9 6.7 5.4 8.2 5.8 7.3 3.6 5.3 30

 31 FA763092000 U.S. direct investment abroad 12.2 1.4 9.6 -2.0 -3.9 24.0 20.5 3.1 9.6 31

 32 FA763090005 Miscellaneous assets -29.3 -59.0 20.4 213.1 56.7 29.1 -217.2 421.2 74.9 32

 33 FA764190005 Net increase in liabilities 449.7 448.5 692.5 526.4 952.6 698.0 592.8 5698.4 4317.0 33

 34 FA764110005 Net interbank liabilities -17.0 -31.1 -16.1 132.8 -236.6 17.3 22.3 475.7 -88.4 34

 35 FA713022003 Federal Reserve float -0.1 0.2 0.1 -0.1 -0.1 0.3 0.4 -0.0 -0.3 35

 36 FA713068715 Borrowing from Federal Reserve banks 0.1 -0.1 -0.0 -0.2 0.4 -0.0 -0.3 306.4 25.3 36

 37 FA764112005 To domestic banking -1.6 -9.2 -2.4 298.1 -393.4 114.7 -28.8 181.5 -277.1 37

 38 FA764116005 To foreign banks -15.4 -21.9 -13.8 -165.0 156.5 -97.7 51.0 -12.1 163.7 38

 39 FA763127005 Checkable deposits 135.7 38.3 137.8 -223.3 279.4 296.7 198.4 1851.7 2793.8 39

 40 FA763123005 Federal government -0.3 -0.1 -0.1 -0.8 -0.0 1.4 -1.1 -0.2 0.9 40

 41 FA763129205 Private domestic 136.4 31.1 121.8 -215.5 223.0 294.2 185.5 1782.6 2748.4 41

 42 FA763122605 Rest of the world 2.1 15.0 10.0 -3.1 53.6 -9.2 -1.3 53.7 -68.5 42

 43 FA763130005 Time and savings deposits 265.9 491.9 510.9 449.4 663.4 582.4 348.2 2470.9 2484.2 43

 44 FA762150005 Federal funds and security repos 7.9 -27.3 23.9 35.7 7.4 105.6 -53.1 96.4 -2.5 44

 45 FA764122005 Debt securities -54.3 24.2 -37.8 -47.5 -21.2 -82.2 -0.1 93.0 36.2 45

 46 FA763169175 Open market paper -19.2 12.0 -19.1 -23.6 -10.6 -41.0 -1.3 46.5 17.4 46

 47 FA763163005 Corporate bonds -35.0 12.3 -18.7 -23.9 -10.7 -41.2 1.1 46.5 18.7 47

 48 FA763169305 Loans (other loans and advances) 20.1 -9.2 -92.3 -58.1 -93.6 -124.1 -93.6 667.1 -1094.8 48

 49 FA763164103 Corporate equity issues 2.8 -5.2 1.4 -6.8 1.3 6.9 3.9 -7.5 3.1 49

 50 FA763178003 Taxes payable (net) 32.6 5.4 14.5 -16.8 13.8 40.8 20.4 -67.0 9.9 50

 51 FA763190005 Miscellaneous liabilities 55.9 -38.5 150.2 260.9 338.6 -145.3 146.4 118.0 175.5 51

 52 FA763194735 Investment by holding companies 26.8 4.8 103.0 67.7 267.7 -41.1 117.7 60.8 500.6 52

 53 FA763193005 Other 29.1 -43.3 47.2 193.2 70.9 -104.1 28.7 57.2 -325.1 53

 54 FA767005005 Discrepancy -171.9 66.4 -17.4 -193.5 339.2 -161.0 -54.2 478.6 29.7 54

 Memo:

 55 FA763066303 Consumer leases not included above (1) 1.9 1.2 0.8 2.4 -1.2 1.7 0.2 0.9 -0.4 55

 56 FA763139105 Uninsured deposits (2) 196.0 199.3 397.0 -335.1 521.3 780.4 621.4 2980.3 2037.3 56

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

 The leased automobile is a nonfinancial asset; depreciation is included in line 1, and fixed investment is included in line 2.

(2) Includes checkable deposits (line 39) and time and savings deposits (line 43) not insured by the Federal Deposit Insurance Corporation.
Transactions

Z.1, September 21, 2020 27

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA756330005 Gross saving 4.1 4.3 5.0 4.9 5.0 5.1 5.1 5.2 5.2 1

 2 FA755013005 Fixed nonresidential investment 5.0 5.6 6.4 6.3 6.4 6.4 6.4 6.4 6.0 2

 3 FA754090005 Net acquisition of financial assets 284.1 -14.5 17.2 159.1 -66.1 -9.3 -14.7 1917.3 -1417.8 3

 4 FA753025003 Vault cash -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA753013003 Reserves at Federal Reserve 142.3 -111.4 -44.5 -85.2 -214.1 -72.6 193.9 1278.9 -916.8 5

 6 FA752050005 Federal funds and security repos 75.1 50.9 60.0 183.2 67.4 85.0 -95.5 -207.4 -99.9 6

 7 FA754022005 Debt securities 27.3 26.4 -30.1 -55.7 15.9 12.9 -93.5 104.5 -74.6 7

 8 FA753069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA753061103 Treasury securities 3.3 29.4 -9.9 1.8 -6.3 1.6 -36.5 -58.7 6.3 9

 10 FA753061703 Agency- and GSE-backed securities 24.5 -2.5 8.9 -7.3 12.8 24.3 5.6 17.3 4.6 10

 11 FA753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA753063005 Corporate and foreign bonds -0.5 -0.6 -29.1 -50.2 9.4 -13.1 -62.6 145.9 -85.4 12

 13 FA754023005 Loans 5.8 40.1 28.4 48.7 58.0 1.6 5.4 636.2 -250.6 13

 14 FA753068005 Depository institution loans n.e.c. -3.1 32.1 24.9 47.7 55.9 -8.5 4.6 627.5 -245.3 14

 15 FA753069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA753065005 Mortgages 9.0 8.1 3.5 0.9 2.1 10.1 0.9 8.8 -5.3 16

 17 FA753064103 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA753093005 Miscellaneous assets 33.7 -20.4 3.4 68.1 6.7 -36.2 -24.9 105.1 -75.9 18

 19 FA754190005 Net increase in liabilities 241.9 40.2 36.6 108.4 -147.5 69.9 115.5 1909.1 -1177.6 19

 20 FA754110005 Net interbank liabilities 114.3 61.5 -77.3 -169.7 -276.7 143.2 -5.9 1427.2 -909.6 20

 21 FA754116005 To foreign banks 119.3 70.8 -70.2 -171.6 -263.7 152.8 1.6 1411.7 -907.1 21

 22 FA754112005 To domestic banks -5.1 -9.3 -7.1 1.9 -13.0 -9.6 -7.5 15.5 -2.6 22

 23 FA753127005 Checkable deposits 32.3 -7.3 10.7 51.4 26.5 -13.4 -21.6 193.4 9.6 23

 24 FA753130005 Time and savings deposits 25.9 -1.9 89.0 191.2 53.7 -86.1 197.1 -195.8 240.5 24

 25 FA752150005 Federal funds and security repos 79.2 -48.9 46.4 -6.2 85.0 61.8 45.0 251.1 -403.2 25

 26 FA753169175 Debt securities (open market paper) -11.1 2.7 -2.3 -11.5 2.9 4.6 -5.1 50.5 -31.5 26

 27 FA753192003 Foreign direct investment in U.S. 7.6 7.1 1.7 7.0 -2.1 -2.5 4.5 -2.4 -3.6 27

 28 FA753190005 Miscellaneous liabilities -6.2 27.0 -31.7 46.2 -36.9 -37.6 -98.6 185.1 -79.8 28

 29 FA753194503 Investment by other financial businesses -20.1 43.4 -3.5 61.7 -64.6 -14.5 3.2 11.4 -43.7 29

 30 FA753193005 Other 13.8 -16.4 -28.2 -15.5 27.7 -23.2 -101.7 173.8 -36.1 30

 31 FA757005005 Discrepancy -43.1 53.4 17.9 -52.1 -82.8 77.9 128.8 -9.4 239.3 31

 Memo:

 32 FA753139105 Uninsured deposits (2) 58.2 -9.2 99.7 242.6 80.2 -99.6 175.5 -2.4 250.1 32

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) All checkable deposits (line 23) and time and savings deposits (line 24) are considered uninsured according to the Federal Deposit Insurance Act.
Transactions

28 Z.1, September 21, 2020

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA746330005 Gross saving 0.1 0.1 0.2 0.1 0.2 0.2 0.2 0.2 0.2 1

 2 FA745013005 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 FA744090005 Net acquisition of financial assets -3.9 3.5 3.5 -5.2 9.6 19.2 -9.6 -6.2 35.9 3

 4 FA743013003 Reserves at Federal Reserve 3.1 -1.7 -1.7 2.2 -6.1 8.9 -11.6 14.5 21.4 4

 5 FA744022003 Debt securities 1.6 5.1 13.2 4.0 30.1 7.5 11.1 -3.5 15.9 5

 6 FA743061103 Treasury securities 1.9 5.3 5.9 3.6 11.4 -2.6 11.2 -13.2 12.2 6

 7 FA743061703 Agency- and GSE-backed securities -0.0 -0.1 -0.3 0.2 0.2 -2.5 0.9 -4.3 8.0 7

 8 FA743062003 Municipal securities -0.5 -0.1 -0.1 0.1 -0.1 -0.3 0.0 0.1 -0.3 8

 9 FA743063005 Corporate and foreign bonds 0.2 -0.1 7.7 0.0 18.7 12.9 -0.9 13.9 -4.0 9

 10 FA744023003 Loans -0.2 -1.2 3.5 2.9 5.6 -4.1 9.6 2.6 8.5 10

 11 FA743068005 Depository institution loans n.e.c. -0.4 0.5 5.0 4.5 6.7 -1.8 10.7 5.3 6.4 11

 12 FA743065103 One-to-four-family residential mortgages 0.3 -1.2 -0.9 -1.2 -0.7 -1.0 -0.8 -1.8 1.5 12

 13 FA743065505 Commercial mortgages -0.0 -0.5 -0.6 -0.4 -0.4 -1.3 -0.2 -0.9 0.6 13

 14 FA743093005 Miscellaneous assets -8.4 1.4 -11.5 -14.3 -20.1 6.9 -18.8 -19.8 -9.9 14

 15 FA744190005 Net increase in liabilities -4.0 2.7 5.6 -2.7 11.9 20.5 -7.2 0.5 37.8 15

 16 FA744110005 Net interbank liabilities 0.1 -0.3 -0.3 0.2 -0.6 -0.2 -0.6 -1.2 -0.1 16

 17 FA743127003 Checkable deposits 0.3 3.5 4.8 0.5 9.3 13.6 -4.1 -1.1 31.4 17

 18 FA743130003 Time and savings deposits -4.6 0.4 1.4 -3.3 3.2 7.1 -1.6 2.3 4.8 18

 19 FA743193005 Miscellaneous liabilities 0.3 -0.9 -0.3 -0.1 -0.0 0.0 -1.0 0.4 1.8 19

 20 FA747005005 Discrepancy -0.1 -0.8 2.1 2.5 2.3 1.3 2.3 6.7 1.9 20

 Memo:

 21 FA743139105 Uninsured deposits (2) 1.1 3.9 4.3 1.5 8.8 10.9 -4.1 0.7 23.9 21

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

(2) Includes checkable deposits (line 17) and time and savings deposits (line 18) not insured by the Federal Deposit Insurance Corporation.

F.114 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA476000105 Gross saving 15.4 19.0 18.9 19.1 19.2 18.9 18.4 19.1 17.2 1

 2 FA475013005 Fixed nonresidential investment 6.5 8.2 7.0 6.9 6.9 7.0 7.0 7.0 6.6 2

 3 FA474090005 Net acquisition of financial assets 87.1 79.3 106.4 222.0 10.7 50.0 142.7 255.4 496.0 3

 4 FA473013005 Reserves at Federal Reserve 2.1 -6.4 20.1 141.8 -49.8 -38.9 27.4 131.9 184.0 4

 5 FA472050053 Federal funds and security repos 0.1 0.0 0.6 1.6 0.6 0.2 0.1 -0.1 -0.1 5

 6 FA474022005 Debt securities -5.7 -9.1 11.1 20.2 -8.2 3.9 28.5 11.5 179.7 6

 7 FA473069153 Open market paper -0.0 0.2 0.5 0.4 0.6 0.0 1.1 1.8 -1.9 7

 8 FA473061105 Treasury securities 0.6 2.2 5.1 9.1 -1.7 0.3 12.7 -7.7 7.1 8

 9 FA473061705 Agency- and GSE-backed securities -5.1 -11.8 3.9 7.6 -6.0 4.3 9.7 3.3 172.4 9

 10 FA473062005 Municipal securities -0.2 -0.1 0.4 -0.3 -0.5 -1.3 4.0 3.6 3.8 10

 11 FA473063005 Corporate and foreign bonds -1.0 0.4 1.1 3.5 -0.6 0.5 1.0 10.6 -1.7 11

 12 FA474023000 Loans 89.0 86.9 68.5 58.8 64.7 76.2 74.5 81.2 48.0 12

 13 FA473068005 Depository institution loans n.e.c. 8.8 -5.7 13.7 -0.6 25.8 16.5 12.9 -10.6 10.6 13

 14 FA473065100 One-to-four-family residential mortgages 42.1 41.8 41.7 30.9 41.0 38.4 56.2 70.8 61.6 14

 15 FA473066000 Consumer credit 38.1 50.8 13.2 28.4 -2.1 21.2 5.4 21.0 -24.3 15

 16 FA473064205 Mutual fund shares 0.1 0.4 0.3 0.9 0.7 -0.1 -0.4 1.8 0.2 16

 17 FA473090005 Miscellaneous assets 1.5 7.4 5.7 -1.2 2.7 8.7 12.6 29.2 84.2 17

 18 FA474190005 Net increase in liabilities 79.9 68.0 95.6 209.6 3.8 42.1 127.1 258.0 470.1 18

 19 FA474110005 Net interbank liabilities 4.1 4.0 -0.6 100.5 -64.4 -37.5 -1.3 67.9 -26.5 19

 20 FA473127003 Checkable deposits 15.3 21.3 18.4 -2.8 -1.0 44.2 33.2 75.2 122.6 20

 21 FA473130005 Time and savings deposits 51.3 39.8 82.2 109.4 70.6 43.6 105.3 41.7 405.0 21

 22 FA472150053 Federal funds and security repos -0.0 -0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 22

 23 FA473169333 Loans (other loans and advances) 8.2 2.9 -5.5 -28.1 2.7 11.1 -7.7 42.4 -49.2 23

 24 FA473193005 Miscellaneous liabilities 1.0 -0.0 1.2 30.6 -4.1 -19.3 -2.4 30.7 18.3 24

 25 FA477005005 Discrepancy 1.7 -0.4 1.2 -0.2 5.3 4.0 -4.2 14.7 -15.3 25

 Memo:

 26 FA473139103 Uninsured deposits (1) 7.8 7.3 15.1 13.5 7.4 15.4 24.1 9.2 38.0 26

(1) Includes checkable deposits (line 20) and time and savings deposits (line 21) not insured by the National Credit Union Share Insurance Fund.
Transactions

Z.1, September 21, 2020 29

F.115 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA516000105 Gross saving less net capital transfers paid (1) 36.1 98.5 132.9 126.7 127.6 126.5 150.9 130.0 123.4 1

 2 FA515013005 Fixed nonresidential investment 24.5 26.2 28.0 27.5 27.8 28.2 28.3 28.5 27.5 2

 3 FA514090005 Net acquisition of financial assets 84.6 119.8 66.5 50.6 132.6 103.1 -20.1 320.6 154.7 3

 4 FA513020005 Checkable deposits and currency 4.3 -1.7 17.4 8.3 34.9 17.8 8.5 -2.5 50.0 4

 5 FA513034005 Money market fund shares 4.0 2.7 2.5 -1.6 14.5 1.6 -4.5 -12.1 26.4 5

 6 FA512051005 Security repurchase agreements 0.0 -0.0 0.6 1.5 0.3 -0.4 1.0 1.8 -1.6 6

 7 FA514022005 Debt securities 33.0 43.7 29.7 48.8 11.2 28.1 30.7 69.9 92.4 7

 8 FA513069105 Open market paper -8.9 -2.2 0.5 5.4 -1.7 -4.7 2.8 -11.6 -1.1 8

 9 FA513061105 Treasury securities 34.0 7.9 -7.0 -3.8 -11.5 -26.2 13.3 22.2 41.8 9

 10 FA513061705 Agency- and GSE-backed securities 5.6 20.2 6.2 8.2 -8.7 7.6 17.9 -7.5 -11.7 10

 11 FA513062005 Municipal securities -9.9 -38.9 -4.7 -3.8 -11.8 -2.7 -0.5 0.4 4.0 11

 12 FA513063005 Corporate and foreign bonds 12.2 56.6 34.7 42.7 44.9 54.2 -2.9 66.4 59.4 12

 13 FA513065505 Loans (commercial mortgages) 2.4 2.7 2.4 1.4 0.4 -0.3 8.0 3.2 0.5 13

 14 FA513064105 Corporate equities 9.8 20.1 -1.8 -10.1 -5.5 25.4 -16.9 -5.8 -62.1 14

 15 FA513064205 Mutual fund shares 1.2 -1.1 0.1 -1.1 4.9 2.7 -5.8 1.2 1.6 15

 16 FA513070005 Trade receivables 9.4 17.8 6.6 16.2 23.3 -9.5 -3.6 28.1 20.8 16

 17 FA513092003 U.S. direct investment abroad 1.1 9.3 3.6 6.9 4.4 -0.3 3.3 20.7 29.0 17

 18 FA513090005 Miscellaneous assets 19.3 26.4 5.5 -19.4 44.2 38.0 -40.9 216.1 -2.4 18

 19 FA513092403 Equity in FHLB 0.0 0.0 0.0 0.1 -0.1 0.0 0.0 0.5 -0.1 19

 20 FA513076005 Policy payables (2) 37.2 8.8 10.5 3.5 15.0 5.1 18.3 9.0 24.5 20

 21 FA513093005 Other -17.9 17.6 -5.0 -23.0 29.3 32.8 -59.2 206.6 -26.7 21

 22 FA514190005 Net increase in liabilities 99.9 47.7 75.9 73.0 96.5 74.2 59.9 26.9 197.1 22

 23 FA512151003 Security repurchase agreements -0.0 -0.2 -0.0 0.1 -0.1 -0.1 0.0 0.7 -0.4 23

 24 FA513164103 Corporate equity issues -12.8 -9.7 -8.0 -4.0 -6.1 -7.2 -14.6 -14.1 2.4 24

 25 FA513169333 Loans (other loans and advances) -0.0 0.5 0.2 1.9 -1.9 0.1 0.7 9.8 1.2 25

 26 FA513170005 Trade payables 1.0 8.4 2.6 0.9 3.7 1.3 4.6 2.2 6.1 26

 27 FA513178005 Taxes payable 5.7 -0.8 -0.3 4.1 -5.7 -3.6 3.9 10.6 1.1 27

 28 FA513192003 Foreign direct investment in U.S. -4.0 8.6 0.4 5.5 -3.6 9.0 -9.1 4.0 -3.3 28

 29 FA513190005 Miscellaneous liabilities 110.0 40.9 80.9 64.5 110.2 74.6 74.4 13.7 189.9 29

 30 FA513194733 Investment by parent companies 0.6 1.2 0.8 1.2 2.1 -0.6 0.7 -0.6 -19.3 30

 31 FA513176005 Policy payables 75.8 44.1 44.0 14.7 62.9 21.5 76.9 37.7 102.7 31

 32 FA513193005 Other 33.7 -4.3 36.1 48.5 45.3 53.8 -3.1 -23.4 106.5 32

 33 FA517005005 Discrepancy 26.9 0.3 114.3 121.6 63.7 69.4 202.7 -192.1 138.3 33

 Memo:

 34 FA513200003 Securities lending (3) 2.0 0.9 0.1 1.6 -1.3 0.5 -0.4 -0.3 0.5 34

 35 FA513176015 Direct reserve 49.6 28.0 37.0 12.3 52.9 18.0 64.6 31.7 86.4 35

 36 FA513176025 Reinsured to U.S. reinsurers 15.8 6.9 5.0 1.7 7.1 2.4 8.7 4.3 11.7 36

 37 FA263176005 Reinsured to non-U.S. reinsurers 21.4 1.8 5.5 1.8 7.8 2.7 9.6 4.7 12.8 37

 38 FA263076005 Reinsured from non-U.S. reinsurers 10.4 9.1 2.0 0.7 2.9 1.0 3.5 1.7 4.7 38

(1) Net capital transfers paid from table F.5, line 53.

(2) Policy payables due from reinsurers.

(3) Liability for securities lending collateral, included in line 32.
Transactions

30 Z.1, September 21, 2020

F.116 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA546000105 Gross saving less net capital transfers paid (2) 15.4 5.8 7.8 14.1 8.8 8.7 -0.3 5.9 9.2 1

 2 FA545013005 Fixed nonresidential investment 18.6 19.8 21.5 21.1 21.3 21.6 21.7 21.8 21.2 2

 3 FA544090005 Net acquisition of financial assets 96.3 126.3 135.3 93.8 250.5 368.4 -171.4 1170.7 -57.2 3

 4 FA543020005 Checkable deposits and currency 17.6 -0.4 4.0 -5.6 27.8 38.2 -44.3 190.8 -19.2 4

 5 FA543034005 Money market fund shares 3.6 6.7 3.6 -11.9 18.5 21.7 -13.8 134.6 6.3 5

 6 FA542051075 Security repurchase agreements -0.4 0.2 4.1 4.6 5.3 4.0 2.6 13.9 -9.1 6

 7 FA544022005 Debt securities 77.0 89.1 124.6 143.1 166.3 185.9 3.1 377.7 181.8 7

 8 FA543069105 Open market paper -8.6 -4.9 -4.4 0.2 0.8 -9.2 -9.4 -6.9 -8.9 8

 9 FA543061105 Treasury securities -0.8 -28.8 -6.4 -23.0 -18.1 7.4 8.2 45.8 -0.2 9

 10 FA543061705 Agency- and GSE-backed securities 6.7 1.6 -1.3 11.1 0.2 1.7 -18.3 22.0 -40.7 10

 11 FA543062005 Municipal securities 6.1 -2.5 -1.0 0.8 -3.4 -0.5 -0.8 0.6 -0.6 11

 12 FA543063005 Corporate and foreign bonds 73.6 123.7 137.6 154.0 186.6 186.5 23.4 316.2 232.2 12

 13 FA544023005 Loans 45.8 61.5 47.5 58.6 28.6 66.5 36.4 65.5 1.3 13

 14 FA543069005 Other loans and advances 4.6 0.0 -3.6 -1.2 -7.0 7.5 -13.5 22.5 -10.6 14

 15 FA543065005 Mortgages 41.2 61.4 51.1 59.8 35.7 59.0 49.8 43.0 11.9 15

 16 FA543064105 Corporate equities -5.9 -44.5 1.1 -3.1 6.6 7.9 -7.0 -6.9 -13.3 16

 17 FA543064205 Mutual fund shares -75.9 -87.0 -86.6 -68.3 -98.8 -90.8 -88.3 -153.6 -60.8 17

 18 FA543070005 Trade receivables 11.1 -0.7 6.5 11.6 13.6 20.2 -19.6 75.4 -7.0 18

 19 FA543040005 Life insurance reserves 34.2 -36.2 6.7 5.0 6.6 12.6 2.8 20.5 -5.8 19

 20 FA543050005 Pension entitlements 7.8 100.1 7.7 6.3 7.6 12.2 4.7 34.8 -5.6 20

 21 FA543092073 U.S. direct investment abroad 3.1 -11.0 -2.8 3.9 -6.2 -0.9 -8.2 3.7 -16.1 21

 22 FA543090005 Miscellaneous assets -21.9 48.5 18.8 -50.4 74.6 91.1 -39.8 414.2 -109.7 22

 23 FA543092473 Equity in FHLB 0.4 0.5 0.6 0.4 0.0 1.2 0.7 3.2 -2.5 23

 24 FA543077073 Deferred and unpaid life ins. premiums 1.8 1.9 1.5 5.8 -2.8 3.5 -0.5 10.2 -3.8 24

 25 FA543095105 Other reserves 3.9 4.5 3.3 2.3 2.3 2.8 5.9 -0.1 2.2 25

 26 FA543093005 Other -28.0 41.6 13.5 -58.8 75.1 83.6 -45.9 400.9 -105.6 26

 27 FA544190005 Net increase in liabilities 116.1 101.1 131.6 68.7 182.1 349.9 -74.3 927.4 -84.5 27

 28 FA542151073 Security repurchase agreements -0.3 2.7 -6.5 -2.1 -1.5 -9.6 -13.0 38.4 -4.8 28

 29 FA543164173 Corporate equity issues -16.2 -11.9 -17.0 -23.4 -16.6 -17.1 -10.7 -22.5 1.6 29

 30 FA543169373 Loans (other loans and advances) 6.5 6.4 7.5 4.1 0.1 15.7 10.2 76.0 2.2 30

 31 FA543170005 Trade payables 37.5 15.2 13.5 18.0 21.5 31.0 -16.5 92.6 15.1 31

 32 FA543140005 Life insurance reserves 43.4 43.3 31.7 19.5 32.5 75.1 -0.2 123.3 -44.4 32

 33 FA543150005 Pension entitlements (3) 0.2 42.2 11.2 -37.0 39.9 88.7 -46.7 263.0 -154.0 33

 34 FA543178075 Taxes payable 2.5 -2.9 0.4 2.7 -3.9 -0.8 3.6 10.1 4.9 34

 35 FA543192073 Foreign direct investment in U.S. 4.6 8.3 10.9 12.3 5.2 14.5 11.5 -2.3 5.5 35

 36 FA543190005 Miscellaneous liabilities 37.8 -2.1 79.9 74.8 104.9 152.5 -12.5 348.7 89.5 36

 37 FA543194733 Investment by parent companies 2.5 -11.0 1.1 1.8 1.7 1.0 0.1 -23.7 0.0 37

 38 FA673090543 Funding agreements backing securities (4) 7.7 4.5 5.0 13.5 -3.4 4.7 5.0 18.0 12.8 38

 39 FA543195005 Other reserves (5) 17.6 26.3 17.9 20.1 12.1 11.5 27.9 3.5 19.5 39

 40 FA593095005 Unallocated insurance contracts 7.8 -3.1 14.8 40.7 11.8 2.1 4.6 -75.5 40.2 40

 41 FA543193005 Other 2.2 -18.9 41.1 -1.3 82.8 133.2 -50.1 426.4 17.0 41

 42 FA547005005 Discrepancy 16.7 -39.2 -17.4 -32.1 -81.0 -31.4 75.0 -259.3 -39.3 42

 Memo:

 43 FA543200073 Securities lending (6) 1.2 -6.4 2.1 10.5 -0.2 1.0 -2.8 6.5 2.7 43

 44 FA543176015 Direct reserve 60.5 69.9 74.5 43.0 81.5 180.3 -6.7 366.2 -115.6 44

 45 FA543176025 Reinsured to U.S. reinsurers 18.0 68.8 19.6 14.4 18.4 33.0 12.4 58.4 -17.2 45

 46 FA543076035 Reinsured to non-U.S. reinsurers 36.2 81.2 15.3 12.0 14.7 25.0 9.5 57.3 -10.9 46

 47 FA543176035 Reinsured from non-U.S. reinsurers 3.4 0.3 0.9 0.7 0.9 1.5 0.5 3.7 -0.7 47

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables F.116.g and F.116.s.

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

(3) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 40.

(4) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(5) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.

(6) Liability for securities lending collateral, included in line 41.
Transactions

Z.1, September 21, 2020 31

F.116.g Life Insurance Companies: General Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA544090075 Net acquisition of financial assets 158.1 253.5 209.2 176.5 311.3 413.3 -64.2 1277.8 -11.2 1

 2 FA543020075 Checkable deposits and currency 7.0 -3.7 8.2 -4.3 29.3 40.2 -32.3 181.9 -14.5 2

 3 FA543034075 Money market fund shares 5.8 1.1 6.8 0.7 16.4 22.4 -12.4 97.7 14.4 3

 4 FA542051075 Security repurchase agreements -0.4 0.2 4.1 4.6 5.3 4.0 2.6 13.9 -9.1 4

 5 FA544022075 Debt securities 72.6 92.2 100.3 103.5 119.0 118.2 60.4 253.5 134.2 5

 6 FA543069175 Open market paper -3.9 -2.2 -3.0 0.7 1.4 -8.5 -5.7 -2.9 -10.5 6

 7 FA543061175 Treasury securities -0.6 -24.7 -5.5 -25.4 -18.8 5.4 16.9 51.2 -5.0 7

 8 FA543061775 Agency- and GSE-backed securities 7.3 4.4 -6.9 -0.4 -10.8 -12.4 -3.8 8.9 -50.3 8

 9 FA543062075 Municipal securities 7.3 -2.2 -3.2 -1.7 -6.3 -3.8 -0.8 -4.8 -3.0 9

 10 FA543063075 Corporate and foreign bonds 62.5 116.9 118.8 130.4 153.5 137.5 53.8 201.1 203.0 10

 11 FA544023075 Loans 44.2 55.8 46.1 54.0 23.9 61.7 44.7 60.9 7.5 11

 12 FA543069075 Other loans and advances 4.7 0.2 1.1 2.8 -2.6 12.3 -8.3 22.5 -10.6 12

 13 FA543065075 Mortgages 39.5 55.6 45.0 51.2 26.5 49.4 52.9 38.4 18.1 13

 14 FA543064175 Corporate equities 5.1 9.5 1.5 -3.7 -2.3 5.2 6.7 14.5 -8.3 14

 15 FA543064275 Mutual fund shares -0.3 0.4 -1.2 0.5 -0.6 -0.3 -4.4 -0.6 0.4 15

 16 FA543070075 Trade receivables 11.1 -0.8 6.5 11.6 13.6 20.2 -19.6 75.5 -7.0 16

 17 FA543040075 Life insurance reserves 34.2 -36.2 6.7 5.0 6.6 12.6 2.8 20.5 -5.8 17

 18 FA543050075 Pension entitlements 7.8 97.2 7.8 6.4 7.6 12.2 4.8 35.0 -5.5 18

 19 FA543092073 U.S. direct investment abroad 3.1 -11.0 -2.8 3.9 -6.2 -0.9 -8.2 3.7 -16.1 19

 20 FA543090075 Miscellaneous assets -32.2 48.7 25.4 -5.7 98.7 117.9 -109.4 521.4 -101.4 20

 21 FA544190075 Net increase in liabilities 186.3 225.1 204.8 146.9 240.8 394.2 37.3 1040.9 -38.5 21

 22 FA542151073 Security repurchase agreements -0.3 2.7 -6.5 -2.1 -1.5 -9.6 -13.0 38.4 -4.8 22

 23 FA543164173 Corporate equity issues -16.2 -11.9 -17.0 -23.4 -16.6 -17.1 -10.7 -22.5 1.6 23

 24 FA543169373 Loans (other loans and advances) 6.5 6.4 7.5 4.1 0.1 15.7 10.2 76.0 2.2 24

 25 FA543170075 Trade payables 37.5 14.1 13.6 18.1 21.6 31.1 -16.4 92.7 15.2 25

 26 FA543140075 Life insurance reserves 64.4 41.9 45.7 34.0 44.5 85.2 18.9 139.2 -39.6 26

 27 FA543150075 Pension entitlements (1) 32.1 153.4 42.1 -1.5 62.2 94.0 13.7 345.4 -135.6 27

 28 FA543178075 Taxes payable 2.5 -2.9 0.4 2.7 -3.9 -0.8 3.6 10.1 4.9 28

 29 FA543192073 Foreign direct investment in U.S. 4.6 8.3 10.9 12.3 5.2 14.5 11.5 -2.3 5.5 29

 30 FA543190075 Miscellaneous liabilities 55.1 13.2 108.2 102.8 129.3 181.3 19.4 363.9 112.2 30

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 30).

F.116.s Life Insurance Companies: Separate Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA544090085 Net acquisition of financial assets -61.8 -127.2 -73.9 -82.6 -60.8 -45.0 -107.2 -107.1 -46.1 1

 2 FA543020083 Checkable deposits and currency 10.6 3.3 -4.2 -1.3 -1.5 -2.0 -12.0 9.0 -4.8 2

 3 FA543034385 Money market fund shares -2.2 5.6 -3.2 -12.6 2.1 -0.7 -1.5 37.0 -8.1 3

 4 FA544022085 Debt securities 4.5 -3.1 24.3 39.6 47.3 67.7 -57.3 124.2 47.6 4

 5 FA543069183 Open market paper -4.7 -2.7 -1.4 -0.5 -0.5 -0.7 -3.8 -4.0 1.6 5

 6 FA543061183 Treasury securities -0.2 -4.0 -0.9 2.4 0.8 2.0 -8.7 -5.4 4.8 6

 7 FA543061783 Agency- and GSE-backed securities -0.6 -2.8 5.5 11.6 11.1 14.1 -14.5 13.2 9.6 7

 8 FA543062083 Municipal securities -1.2 -0.3 2.2 2.6 2.9 3.3 0.1 5.4 2.4 8

 9 FA543063085 Corporate and foreign bonds 11.2 6.8 18.8 23.6 33.1 49.0 -30.4 115.1 29.2 9

 10 FA544023085 Loans 1.6 5.7 1.4 4.5 4.8 4.8 -8.3 4.6 -6.2 10

 11 FA543069483 Other loans and advances -0.1 -0.2 -4.6 -4.1 -4.4 -4.8 -5.2 0.0 0.0 11

 12 FA543065083 Mortgages 1.7 5.8 6.1 8.6 9.2 9.6 -3.1 4.6 -6.2 12

 13 FA543064185 Corporate equities -10.9 -54.0 -0.3 0.7 9.0 2.7 -13.7 -21.5 -5.0 13

 14 FA543064385 Mutual fund shares -75.6 -87.4 -85.4 -68.8 -98.2 -90.5 -83.9 -153.0 -61.1 14

 15 FA543070085 Trade receivables 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.0 15

 16 FA543040085 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA543050085 Pension entitlements -0.0 2.9 -0.1 -0.1 -0.0 -0.0 -0.1 -0.1 -0.1 17

 18 FA543090085 Miscellaneous assets 10.3 -0.1 -6.5 -44.7 -24.2 -26.8 69.5 -107.2 -8.3 18

 19 FA544190085 Net increase in liabilities -70.2 -124.0 -73.2 -78.2 -58.7 -44.3 -111.6 -113.5 -46.0 19

 20 FA543170085 Trade payables 0.0 1.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 20

 21 FA543140085 Life insurance reserves -21.0 1.4 -14.0 -14.5 -12.0 -10.1 -19.2 -15.9 -4.8 21

 22 FA543150085 Pension entitlements (1) -31.9 -111.2 -30.9 -35.6 -22.2 -5.3 -60.4 -82.4 -18.4 22

 23 FA543190085 Miscellaneous liabilities -17.3 -15.3 -28.3 -28.0 -24.4 -28.8 -32.0 -15.2 -22.7 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds which are included in miscellaneous liabilities (line 23).
Transactions

32 Z.1, September 21, 2020

F.117 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA596330005 Gross saving 0.7 0.8 0.7 0.7 0.7 0.7 0.7 0.8 0.8 1

 2 FA595013005 Fixed nonresidential investment 0.9 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 2

 3 FA594090005 Net acquisition of financial assets (2) 485.0 295.8 413.2 481.4 393.7 388.2 389.4 303.8 378.8 3

 4 FA593020005 Checkable deposits and currency -5.6 -6.9 2.9 6.9 24.5 5.3 -25.2 1.1 1.3 4

 5 FA593030005 Time and savings deposits 3.3 -5.4 4.5 -0.1 7.8 0.2 10.0 1.9 5.0 5

 6 FA593034005 Money market fund shares -2.4 -2.8 1.4 14.6 -20.6 4.6 6.8 50.2 7.6 6

 7 FA592051005 Security repurchase agreements 0.2 -0.7 3.7 1.1 -0.7 32.7 -18.2 -0.3 3.4 7

 8 FA594022005 Debt securities 115.0 448.5 101.2 -693.8 -397.0 1401.7 93.7 230.6 -14.5 8

 9 FA593069105 Open market paper 1.6 -7.2 -5.5 12.3 -5.4 -25.2 -3.9 17.3 -4.2 9

 10 FA593061105 Treasury securities (3) 33.5 388.3 135.2 -777.5 -43.0 1157.4 204.2 57.7 151.0 10

 11 FA593061705 Agency- and GSE-backed securities 34.2 25.5 43.7 36.3 10.2 130.7 -2.2 9.1 -115.9 11

 12 FA593062045 Municipal securities 0.7 0.7 -0.9 -3.5 0.0 -0.0 0.0 -0.0 0.0 12

 13 FA593063005 Corporate and foreign bonds 45.0 41.2 -71.4 38.6 -358.7 138.9 -104.5 146.6 -45.4 13

 14 FA594023005 Loans 148.5 -149.1 16.6 864.5 5.8 -774.1 -29.6 5.9 -61.9 14

 15 FA313169003 Other loans and advances 151.7 -151.7 15.8 861.3 5.7 -774.6 -29.0 -0.6 -62.8 15

 16 FA593065005 Mortgages -3.2 2.6 0.8 3.3 0.1 0.4 -0.6 6.4 0.9 16

 17 FA593064105 Corporate equities -108.5 -183.9 -234.8 -138.4 207.9 -558.3 -450.3 584.6 15.5 17

 18 FA593064205 Mutual fund shares 42.4 -11.7 -32.8 -68.0 125.2 11.1 -199.6 -148.5 -9.3 18

 19 FA593090005 Miscellaneous assets 292.3 207.7 550.6 494.6 440.9 265.1 1001.7 -421.6 431.7 19

 20 FA593095005 Unallocated insurance contracts (4) 7.8 -3.1 14.8 40.7 11.8 2.1 4.6 -75.5 40.2 20

 21 FA573074005 Contributions receivable 19.2 -34.6 -0.9 -6.0 22.0 -10.3 -9.1 29.7 7.7 21

 22 FA593073005 Claims of pension fund on sponsor (5) 147.1 253.0 251.9 392.8 73.0 64.9 476.7 -320.4 156.0 22

 23 FA593093005 Other 118.2 -7.7 284.8 67.1 334.1 208.3 529.6 -55.3 227.8 23

 24 FA594190005 Net increase in pension entitlements (liabilities) 485.1 295.8 413.2 481.4 393.7 388.2 389.4 303.8 378.7 24

 Memo:

 25 FA153050015 Household retirement assets (6) 908.1 749.0 687.8 560.0 629.6 918.9 642.8 565.1 ND 25

 26 FA594190045 Defined benefit plans 268.4 275.1 273.8 276.2 279.2 275.5 264.1 263.1 261.9 26

 27 FA594090055 Defined contribution plans 216.7 20.6 139.4 205.1 114.5 112.7 125.3 40.7 116.8 27

 28 FA893131573 Individual retirement plans (IRAs) (7) 443.5 412.6 290.4 159.5 221.1 461.6 319.4 -57.3 ND 28

 29 FA543150015 Annuities at life insurance companies (8) -20.5 40.6 -15.8 -80.9 14.7 69.1 -66.1 318.6 ND 29

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements.

(6) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(7) IRA assets are not included above. See memo item on table F.227 for a sectoral distribution of IRA accounts.

(8) Annuities held in IRAs are excluded. They are included in line 28.
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Z.1, September 21, 2020 33

F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA576330005 Gross saving 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 1

 2 FA575013005 Fixed nonresidential investment 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 2

 3 FA574090005 Net acquisition of financial assets (2) 168.2 16.7 77.7 126.1 68.4 67.3 49.1 66.6 29.9 3

 4 FA573020005 Checkable deposits and currency 4.7 -5.0 0.2 -0.0 1.0 -0.1 -0.1 1.5 0.4 4

 5 FA573030005 Time and savings deposits 3.6 -5.0 -0.3 -0.6 1.5 -1.1 -0.9 1.9 0.4 5

 6 FA573034005 Money market fund shares 0.6 -0.4 1.5 0.5 3.7 1.4 0.5 12.8 2.0 6

 7 FA572051005 Security repurchase agreements 0.4 -0.5 -0.0 -0.1 0.1 -0.1 -0.1 0.2 0.0 7

 8 FA574022005 Debt securities 145.7 82.3 88.9 123.6 -119.9 188.4 163.5 39.7 -7.8 8

 9 FA573069105 Open market paper 3.8 -5.3 -0.2 -0.6 1.7 -1.1 -0.9 2.2 0.5 9

 10 FA573061105 Treasury securities 46.9 26.2 32.9 41.7 -26.5 62.5 54.1 -12.5 3.7 10

 11 FA573061705 Agency- and GSE-backed securities 24.9 12.9 16.6 21.3 -14.8 32.1 27.8 -8.3 -46.7 11

 12 FA573063005 Corporate and foreign bonds 70.0 48.6 39.6 61.2 -80.3 94.9 82.6 58.3 34.7 12

 13 FA573065005 Loans (mortgages) 4.4 -2.8 1.3 1.2 1.1 1.6 1.4 2.5 0.9 13

 14 FA573064105 Corporate equities -53.1 -80.0 -8.6 -52.3 187.2 -89.8 -79.5 111.8 65.2 14

 15 FA573064205 Mutual fund shares 41.1 -9.1 -42.1 -4.6 22.6 -111.1 -75.2 -84.2 -20.7 15

 16 FA573090005 Miscellaneous assets 20.9 37.3 36.8 58.4 -28.9 78.1 39.6 -19.5 -10.7 16

 17 FA573095005 Unallocated insurance contracts (3) -5.7 1.1 1.1 6.5 0.3 4.2 -6.6 -15.1 9.0 17

 18 FA573074005 Contributions receivable 19.2 -34.6 -0.9 -6.0 22.0 -10.3 -9.1 29.7 7.7 18

 19 FA573073005 Claims of pension fund on sponsor (4) -67.0 80.1 -13.8 13.8 -96.4 23.8 3.8 -132.2 -64.8 19

 20 FA573093005 Other 74.4 -9.4 50.4 44.2 45.3 60.4 51.5 98.1 37.4 20

 21 FA574190005 Net increase in pension entitlements (liabilities) 168.2 16.7 77.7 126.1 68.4 67.3 49.1 66.6 29.9 21

 Memo:

 Net acquisition of financial assets

 22 FA574090045 Defined benefit plans (5) -35.0 -26.5 -30.7 -21.1 -24.4 -32.2 -45.3 -45.3 -45.3 22

 23 FA574090055 Defined contribution plans (6) 203.2 43.2 108.5 147.3 92.8 99.5 94.4 111.9 75.2 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Additional detail on defined benefit plans is available on table F.118.b.

(6) Additional detail on defined contribution plans is available on table F.118.c.
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34 Z.1, September 21, 2020

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA574090045 Net acquisition of financial assets (1) -35.0 -26.5 -30.7 -21.1 -24.4 -32.2 -45.3 -45.3 -45.3 1

 2 FA573020043 Checkable deposits and currency 0.2 -0.9 -0.2 -0.3 0.7 -0.5 -0.5 0.8 0.2 2

 3 FA573030043 Time and savings deposits 3.7 -5.2 -0.3 -0.7 1.4 -1.1 -1.0 1.7 0.4 3

 4 FA573034043 Money market fund shares 4.4 -6.2 -0.4 -0.8 1.7 -1.3 -1.2 2.1 0.5 4

 5 FA572051043 Security repurchase agreements 0.4 -0.5 -0.0 -0.1 0.1 -0.1 -0.1 0.2 0.0 5

 6 FA574022045 Debt securities 110.8 62.7 39.4 81.1 -167.4 130.1 114.0 -62.0 -45.4 6

 7 FA573069143 Open market paper 4.0 -5.7 -0.4 -0.8 1.6 -1.2 -1.1 1.9 0.4 7

 8 FA573061143 Treasury securities 34.9 14.3 11.2 23.0 -47.4 36.9 32.3 -57.2 -12.9 8

 9 FA573061743 Agency- and GSE-backed securities 18.9 7.0 5.9 12.1 -25.1 19.5 17.1 -30.2 -30.8 9

 10 FA573063043 Corporate and foreign bonds 52.9 47.0 22.7 46.7 -96.5 75.0 65.7 23.6 -2.1 10

 11 FA573065043 Loans (mortgages) 1.7 -1.5 0.0 0.1 -0.1 0.1 0.1 -0.2 -0.0 11

 12 FA573064143 Corporate equities -89.3 -75.8 -37.6 -77.2 159.4 -123.9 -108.5 52.3 43.2 12

 13 FA573064243 Mutual fund shares -27.4 -39.0 -15.1 -31.0 64.1 -49.8 -43.6 77.3 17.4 13

 14 FA573090045 Miscellaneous assets -39.5 40.0 -16.6 7.9 -84.3 14.4 -4.5 -117.5 -61.5 14

 15 FA573095405 Unallocated insurance contracts (2) 1.4 2.7 0.9 1.9 -3.9 3.1 2.7 -4.8 -1.1 15

 16 FA573074043 Contributions receivable 17.3 -36.5 -4.4 -9.0 18.6 -14.5 -12.7 22.4 5.0 16

 17 FA573073005 Claims of pension fund on sponsor (3) -67.0 80.1 -13.8 13.8 -96.4 23.8 3.8 -132.2 -64.8 17

 18 FA573093043 Other 8.9 -6.3 0.6 1.2 -2.5 2.0 1.7 -3.0 -0.7 18

 19 FA574190043 Net increase in pension entitlements (liabilities) -34.9 -26.6 -30.8 -21.1 -24.4 -32.2 -45.3 -45.3 -45.3 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA574090055 Net acquisition of financial assets 203.2 43.2 108.5 147.3 92.8 99.5 94.4 111.9 75.2 1

 2 FA573020033 Checkable deposits and currency 4.5 -4.1 0.3 0.3 0.3 0.4 0.3 0.7 0.2 2

 3 FA573030033 Time and savings deposits -0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.0 3

 4 FA573034055 Money market fund shares -3.9 5.8 1.9 1.3 2.0 2.7 1.7 10.7 1.5 4

 5 FA572051033 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA574022035 Debt securities 34.9 19.7 49.5 42.5 47.5 58.3 49.5 101.7 37.6 6

 7 FA573069133 Open market paper -0.2 0.4 0.1 0.1 0.1 0.2 0.1 0.3 0.1 7

 8 FA573061133 Treasury securities 12.1 12.0 21.7 18.7 20.9 25.6 21.8 44.7 16.5 8

 9 FA573061733 Agency- and GSE-backed securities 6.0 5.8 10.7 9.2 10.3 12.6 10.7 22.0 -15.9 9

 10 FA573063033 Corporate and foreign bonds 17.1 1.5 16.9 14.5 16.2 19.9 16.9 34.7 36.8 10

 11 FA573065033 Loans (mortgages) 2.7 -1.3 1.3 1.1 1.2 1.5 1.3 2.7 1.0 11

 12 FA573064133 Corporate equities 36.2 -4.2 29.0 24.9 27.8 34.1 29.0 59.6 22.0 12

 13 FA573064255 Mutual fund shares 68.5 29.9 -27.0 26.5 -41.5 -61.3 -31.6 -161.5 -38.1 13

 14 FA573090055 Miscellaneous assets 60.4 -2.8 53.4 50.6 55.4 63.7 44.1 98.0 50.8 14

 15 FA573095505 Unallocated insurance contracts (2) -7.0 -1.6 0.2 4.5 4.2 1.1 -9.2 -10.3 10.0 15

 16 FA573074033 Contributions receivable 1.9 2.0 3.5 3.0 3.4 4.1 3.5 7.2 2.7 16

 17 FA573093055 Other 65.5 -3.1 49.8 43.0 47.9 58.4 49.8 101.2 38.1 17

 18 FA574090055 Net increase in pension entitlements (liabilities) 203.2 43.2 108.5 147.3 92.8 99.5 94.4 111.9 75.2 18

(1) Includes 401(k) and 403(b) type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
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Z.1, September 21, 2020 35

F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA344090005 Net acquisition of financial assets (1) 81.2 83.9 88.5 84.8 89.1 92.3 87.6 86.7 88.2 1

 2 FA343020033 Checkable deposits and currency 0.1 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 2

 3 FA344022005 Debt securities -83.2 309.3 112.9 -849.0 -98.1 1285.1 113.5 183.3 199.8 3

 4 FA343061105 Treasury securities (2) -84.3 309.3 110.4 -851.4 -100.6 1282.1 111.7 190.8 193.6 4

 5 FA343061705 Agency- and GSE-backed securities 0.6 -0.1 1.1 1.2 1.3 1.5 0.6 -2.9 3.1 5

 6 FA343062033 Municipal securities -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.0 6

 7 FA343063005 Corporate and foreign bonds 0.5 0.2 1.3 1.3 1.2 1.6 1.2 -4.5 3.1 7

 8 FA343064105 Corporate equities 6.5 -21.6 -5.1 -0.1 -9.9 -14.4 3.9 -48.1 19.7 8

 9 FA313169003 Loans (other loans and advances) (3) 151.7 -151.7 15.8 861.3 5.7 -774.6 -29.0 -0.6 -62.8 9

 10 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) 6.2 -51.9 -35.0 72.7 191.6 -403.6 -0.7 -47.8 -68.4 10

 11 FA344090005 Net increase in pension entitlements (liabilities) 81.2 83.9 88.5 84.8 89.1 92.3 87.6 86.7 88.2 11

 Memo:

 Net acquisition of financial assets

 12 FA344090045 Defined benefit plans (5) 72.9 72.0 75.5 70.9 74.9 76.9 79.3 78.4 77.2 12

 13 FA344090055 Defined contibution plans (6) 8.3 11.9 12.9 13.9 14.2 15.4 8.2 8.3 11.0 13

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Unfunded defined benefit pension entitlements.

(5) Additional detail on defined benefit plans is available on table F.119.b

(6) Additional detail on defined contribution plans is available on table F.119.c.
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36 Z.1, September 21, 2020

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA344090045 Net acquisition of financial assets (2) 72.9 72.0 75.5 70.9 74.9 76.9 79.3 78.4 77.2 1

 2 FA343020033 Checkable deposits and currency 0.1 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 2

 3 FA344022045 Debt securities 68.4 124.6 112.1 0.7 -116.2 481.4 82.5 123.6 147.7 3

 4 FA343061165 Treasury securities (3) 68.5 124.7 111.8 0.4 -115.9 481.2 81.6 126.7 147.4 4

 5 FA343061733 Agency- and GSE-backed securities 0.0 0.1 0.1 0.1 0.0 0.1 0.2 -0.9 0.4 5

 6 FA343062033 Municipal securities -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.0 6

 7 FA343063033 Corporate and foreign bonds -0.1 -0.2 0.2 0.1 -0.3 0.1 0.7 -2.2 -0.1 7

 8 FA343064135 Corporate equities -1.8 -0.4 -1.4 -2.3 -0.4 -0.7 -2.3 2.7 -2.0 8

 9 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) 6.2 -51.9 -35.0 72.7 191.6 -403.6 -0.7 -47.8 -68.4 9

 10 FA344190045 Net increase in pension entitlements (liabilities) 72.9 72.0 75.5 70.9 74.9 76.9 79.3 78.4 77.2 10

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Comprised primarily of nonmarketable Treasury securities.

(4) Unfunded defined benefit pension entitlements.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA344090055 Net acquisition of financial assets 8.3 11.9 12.9 13.9 14.2 15.4 8.2 8.3 11.0 1

 2 FA344022025 Debt securities -151.6 184.7 0.8 -849.6 18.0 803.7 31.0 59.7 52.1 2

 3 FA343061155 Treasury securities (2) -152.8 184.5 -1.4 -851.8 15.3 800.9 30.1 64.1 46.2 3

 4 FA343061723 Agency- and GSE-backed securities 0.6 -0.2 1.0 1.0 1.3 1.3 0.4 -2.1 2.8 4

 5 FA343063023 Corporate and foreign bonds 0.6 0.4 1.1 1.2 1.4 1.5 0.5 -2.4 3.1 5

 6 FA343064125 Corporate equities 8.3 -21.2 -3.7 2.2 -9.6 -13.7 6.2 -50.8 21.7 6

 7 FA313169003 Loans (other loans and advances) (3) 151.7 -151.7 15.8 861.3 5.7 -774.6 -29.0 -0.6 -62.8 7

 8 FA344090055 Net increase in pension entitlements (liabilities) 8.3 11.9 12.9 13.9 14.2 15.4 8.2 8.3 11.0 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
Transactions

Z.1, September 21, 2020 37

F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA226330005 Gross saving 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 1

 2 FA225013005 Fixed nonresidential investment 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 2

 3 FA224090005 Net acquisition of financial assets (1) 235.6 195.3 247.0 270.4 236.2 228.6 252.7 150.5 260.7 3

 4 FA223020043 Checkable deposits and currency -10.4 -1.7 2.9 7.1 23.7 5.6 -24.9 -0.2 1.0 4

 5 FA223030043 Time and savings deposits -0.4 -0.4 4.7 0.5 6.3 1.2 10.9 0.0 4.6 5

 6 FA223034005 Money market fund shares -3.0 -2.4 -0.1 14.2 -24.3 3.2 6.3 37.4 5.6 6

 7 FA222051043 Security repurchase agreements -0.2 -0.2 3.7 1.1 -0.8 32.8 -18.1 -0.5 3.3 7

 8 FA224022045 Debt securities 52.5 56.9 -100.6 31.5 -178.9 -71.8 -183.3 7.6 -206.6 8

 9 FA223069143 Open market paper -2.2 -1.9 -5.3 13.0 -7.1 -24.2 -2.9 15.1 -4.8 9

 10 FA223061143 Treasury securities 70.9 52.8 -8.1 32.2 84.1 -187.2 38.4 -120.6 -46.3 10

 11 FA223061743 Agency- and GSE-backed securities 8.7 12.7 26.0 13.7 23.7 97.1 -30.5 20.3 -72.4 11

 12 FA223062043 Municipal securities 0.7 0.7 -0.9 -3.5 0.0 0.0 0.0 0.0 0.0 12

 13 FA223063045 Corporate and foreign bonds -25.4 -7.5 -112.3 -23.9 -279.6 42.5 -188.3 92.8 -83.1 13

 14 FA223065043 Loans (mortgages) -7.6 5.4 -0.5 2.1 -1.0 -1.2 -1.9 4.0 -0.1 14

 15 FA223064145 Corporate equities -61.9 -82.3 -221.1 -86.1 30.6 -454.1 -374.7 520.8 -69.3 15

 16 FA223064205 Mutual fund shares 1.3 -2.6 9.2 -63.5 102.6 122.2 -124.4 -64.4 11.4 16

 17 FA223090005 Miscellaneous assets 265.2 222.3 548.8 363.4 278.1 590.6 962.8 -354.2 510.7 17

 18 FA223095505 Unallocated insurance contracts (2) 13.5 -4.3 13.7 34.2 11.5 -2.1 11.2 -60.5 31.2 18

 19 FA223073045 Claims of pension fund on sponsor (3) 207.9 224.9 300.6 306.3 -22.2 444.8 473.6 -140.4 289.1 19

 20 FA223093005 Other 43.9 1.7 234.4 22.9 288.8 147.9 478.1 -153.4 190.4 20

 21 FA224190005 Net increase in pension entitlements (liabilities) 235.7 195.2 247.0 270.4 236.3 228.6 252.8 150.5 260.7 21

 Memo:

 Net acquisition of financial assets

 22 FA224090045 Defined benefit plans (4) 230.4 229.7 229.0 226.4 228.7 230.8 230.0 230.0 230.1 22

 23 FA224090055 Defined contibution plans (5) 5.2 -34.5 18.0 44.0 7.5 -2.2 22.7 -79.6 30.6 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.

(3) Unfunded defined benefit pension entitlements.

(4) Additional detail on defined benefit plans is available on table F.120.b.

(5) Additional detail on defined contribution plans is available on table F.120.c.
Transactions

38 Z.1, September 21, 2020

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA224090045 Net acquisition of financial assets (1) 230.4 229.7 229.0 226.4 228.7 230.8 230.0 230.0 230.1 1

 2 FA223020043 Checkable deposits and currency -10.4 -1.7 2.9 7.1 23.7 5.6 -24.9 -0.2 1.0 2

 3 FA223030043 Time and savings deposits -0.4 -0.4 4.7 0.5 6.3 1.2 10.9 0.0 4.6 3

 4 FA223034043 Money market fund shares -2.4 -2.0 -0.2 14.2 -24.3 3.1 6.3 36.2 5.3 4

 5 FA222051043 Security repurchase agreements -0.2 -0.2 3.7 1.1 -0.8 32.8 -18.1 -0.5 3.3 5

 6 FA224022045 Debt securities 52.5 56.9 -100.6 31.5 -178.9 -71.8 -183.3 7.6 -206.6 6

 7 FA223069143 Open market paper -2.2 -1.9 -5.3 13.0 -7.1 -24.2 -2.9 15.1 -4.8 7

 8 FA223061143 Treasury securities 70.9 52.8 -8.1 32.2 84.1 -187.2 38.4 -120.6 -46.3 8

 9 FA223061743 Agency- and GSE-backed securities 8.7 12.7 26.0 13.7 23.7 97.1 -30.5 20.3 -72.4 9

 10 FA223062043 Municipal securities 0.7 0.7 -0.9 -3.5 0.0 0.0 0.0 0.0 0.0 10

 11 FA223063045 Corporate and foreign bonds -25.4 -7.5 -112.3 -23.9 -279.6 42.5 -188.3 92.8 -83.1 11

 12 FA223065043 Loans (mortgages) -7.6 5.4 -0.5 2.1 -1.0 -1.2 -1.9 4.0 -0.1 12

 13 FA223064145 Corporate equities -61.9 -82.3 -221.1 -86.1 30.6 -454.1 -374.7 520.8 -69.3 13

 14 FA223064243 Mutual fund shares 9.5 26.0 5.2 -73.1 106.8 122.7 -135.8 -43.7 12.5 14

 15 FA223090045 Miscellaneous assets 251.2 227.9 534.8 329.0 266.4 592.5 951.5 -294.0 479.3 15

 16 FA223073045 Claims of pension fund on sponsor (2) 207.9 224.9 300.6 306.3 -22.2 444.8 473.6 -140.4 289.1 16

 17 FA223093043 Other 43.3 3.0 234.2 22.7 288.6 147.7 477.9 -153.6 190.1 17

 18 FA224190043 Net increase in pension entitlements (liabilities) 230.4 229.7 229.0 226.4 228.7 230.8 230.0 230.0 230.0 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

F.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA224090055 Net acquisition of financial assets 5.2 -34.5 18.0 44.0 7.5 -2.2 22.7 -79.6 30.6 1

 2 FA223034055 Money market fund shares -0.6 -0.4 0.0 -0.1 0.0 0.1 -0.0 1.3 0.3 2

 3 FA223064255 Mutual fund shares -8.2 -28.6 4.1 9.6 -4.2 -0.4 11.4 -20.6 -1.1 3

 4 FA223090055 Miscellaneous assets 14.0 -5.5 13.9 34.4 11.7 -1.9 11.4 -60.2 31.4 4

 5 FA223095505 Unallocated insurance contracts (misc. assets) (2) 13.5 -4.3 13.7 34.2 11.5 -2.1 11.2 -60.5 31.2 5

 6 FA223093053 Other 0.5 -1.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 6

 7 FA224090055 Net increase in pension entitlements (liabilities) 5.2 -34.5 18.0 44.0 7.5 -2.2 22.7 -79.6 30.6 7

(1) Includes 403(b) and 457 type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
Transactions

Z.1, September 21, 2020 39

F.121 Money Market Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA634090005 Net acquisition of financial assets 117.2 189.9 596.0 452.6 627.7 793.3 510.4 3093.7 1300.9 1

 2 FA633091003 Foreign deposits 1.9 -2.2 5.8 -0.3 2.8 7.1 13.8 -14.5 -6.6 2

 3 FA633020000 Checkable deposits and currency -7.5 -65.8 44.9 56.8 85.4 -185.1 222.4 -104.8 -137.2 3

 4 FA633030000 Time and savings deposits 36.7 11.7 68.2 75.6 117.4 7.2 72.9 -128.1 -115.4 4

 5 FA632051000 Security repurchase agreements 154.8 63.0 155.7 204.6 342.1 151.2 -75.3 1537.2 -2551.4 5

 6 FA634022005 Debt securities -68.1 181.7 319.0 334.2 29.8 673.7 238.2 1680.6 3876.3 6

 7 FA633069175 Open market paper 42.9 41.1 43.5 69.2 50.2 39.6 15.2 -52.2 -42.8 7

 8 FA633061105 Treasury securities -94.7 170.6 163.0 111.3 -115.2 580.9 75.2 925.0 4327.9 8

 9 FA633061700 Agency- and GSE-backed securities 1.8 -37.4 110.2 166.2 78.7 43.2 152.6 820.7 -421.0 9

 10 FA633062000 Municipal securities -19.9 8.4 -8.9 -17.4 4.0 -7.6 -14.4 6.0 16.4 10

 11 FA633063005 Corporate and foreign bonds 1.9 -1.1 11.0 4.8 12.1 17.6 9.6 -19.0 -4.2 11

 12 FA633093005 Miscellaneous assets -0.7 1.4 2.4 -218.2 50.3 139.1 38.5 123.3 235.2 12

 13 FA634090005 Net share issues (liabilities) 117.2 189.9 596.0 452.6 627.7 793.3 510.4 3093.7 1300.9 13

 Memo:

 14 FA634090503 Variable annuity money market funds included above -3.7 6.1 -3.0 -12.9 2.4 0.0 -1.6 45.2 -7.9 14

(1) Open-end investment companies including variable annuity money market funds.

F.122 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA656006403 Gross saving -68.1 -78.7 -48.4 -53.8 -46.7 -54.3 -38.8 -50.0 -40.0 1

 2 FA654090000 Net acquisition of financial assets 318.4 -63.3 208.2 287.7 79.9 114.5 350.9 -1222.8 66.7 2

 3 FA652051003 Security repurchase agreements 14.0 -16.4 21.2 93.9 7.7 -18.6 1.7 17.9 -19.9 3

 4 FA654022005 Debt securities 383.7 196.2 342.0 256.1 252.0 342.7 517.2 -998.0 397.0 4

 5 FA653069100 Open market paper 14.0 -16.4 21.2 82.0 14.1 -10.8 -0.5 8.6 -16.2 5

 6 FA653061105 Treasury securities 187.4 69.7 120.0 48.9 6.9 176.0 248.1 -942.7 441.3 6

 7 FA653061703 Agency- and GSE-backed securities 3.0 5.6 31.0 -105.8 58.7 74.4 96.9 110.4 -474.7 7

 8 FA653062003 Municipal securities 40.0 22.1 105.8 117.7 99.1 98.6 107.8 -132.0 63.5 8

 9 FA653063005 Corporate and foreign bonds 139.4 115.2 64.0 113.3 73.2 4.5 65.0 -42.3 383.1 9

 10 FA653069803 Loans (other loans and advances) 16.2 -10.5 -19.2 -31.4 -22.9 -13.0 -9.4 -14.2 -12.6 10

 11 FA653064100 Corporate equities -133.4 -120.5 -219.3 -226.1 -197.0 -202.4 -251.8 -368.3 -327.5 11

 12 FA653093005 Miscellaneous assets 38.0 -112.2 83.5 195.1 40.0 5.8 93.3 139.7 29.6 12

 13 FA653164205 Net share issues (liabilities) 318.4 -63.3 208.2 287.7 79.9 114.5 350.9 -1222.8 66.7 13

 14 FA657005005 Discrepancy -68.1 -78.7 -48.4 -53.8 -46.7 -54.3 -38.8 -50.0 -40.0 14

 Memo:

 15 FA654090500 Variable annuity mutual funds included above -93.5 -104.4 -104.1 -86.2 -115.6 -110.5 -104.1 -173.7 -74.7 15

 Net acquisition of financial assets by investment objective:

 16 FA654091600 Domestic equity funds -158.2 -161.7 -205.4 -133.0 -204.4 -242.4 -241.7 -473.2 -260.0 16

 17 FA654092603 World equity funds 118.4 41.1 -5.8 6.5 -48.4 -29.4 48.1 45.4 -186.5 17

 18 FA654091403 Hybrid funds 2.5 -58.7 -15.2 -14.9 -22.4 -34.6 10.9 -187.5 17.1 18

 19 FA654091303 Taxable bond funds 315.1 96.4 325.0 301.2 277.6 290.5 430.7 -566.6 447.6 19

 20 FA654091203 Municipal bond funds 40.7 19.6 109.7 122.0 98.2 103.0 115.5 -68.4 68.7 20

(1) Open-end investment companies including variable annuity mutual funds. Quarterly figures for net acquisition of financial assets by investment objective (lines 16 through 20)

 are not seasonally adjusted and therefore may not sum to total net acquisition of financial assets (line 2).
Transactions

40 Z.1, September 21, 2020

F.123 Closed-End Funds 

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA554090005 Net acquisition of financial assets 0.7 1.8 5.9 5.7 6.9 6.3 4.6 11.3 -1.0 1

 2 FA554022005 Debt securities 1.2 2.2 3.2 5.1 1.5 6.4 -0.1 3.6 -1.0 2

 3 FA553061103 Treasury securities 0.1 -0.2 -0.5 0.3 -0.1 -0.8 -1.1 -3.0 0.8 3

 4 FA553062003 Municipal securities 0.2 2.0 1.7 1.8 -0.8 5.4 0.3 0.5 -0.2 4

 5 FA553063003 Corporate and foreign bonds 0.9 0.5 2.0 3.0 2.5 1.9 0.7 6.1 -1.6 5

 6 FA553064103 Corporate equities -0.5 -0.4 2.6 0.5 5.3 -0.1 4.7 7.7 0.0 6

 7 FA554090005 Net share issues (liabilities) 0.7 1.8 5.9 5.7 6.9 6.3 4.6 11.3 -1.0 7

 Memo:

 Net acquisition of financial assets by investment objective:

 8 FA554091603 Domestic equity funds -0.1 -0.4 0.8 0.2 0.0 -0.0 3.1 7.7 0.0 8

 9 FA554092603 World equity funds -0.4 -0.1 1.8 0.4 5.3 -0.1 1.6 -0.0 0.0 9

 10 FA554091303 Domestic taxable bond funds 0.8 0.3 1.3 3.3 2.4 0.0 -0.4 -0.2 -0.8 10

 11 FA554091203 Municipal bond funds 0.2 2.0 1.7 1.8 -0.8 5.4 0.3 0.5 -0.2 11

 12 FA554092303 World bond funds 0.2 -0.0 0.3 0.0 0.0 1.1 0.0 3.3 0.0 12

F.124 Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA564090005 Net acquisition of financial assets 471.0 311.0 322.6 264.3 339.6 349.6 336.8 371.4 616.7 1

 2 FA564022005 Debt securities 122.0 99.0 148.3 135.4 155.5 146.1 156.2 43.2 340.9 2

 3 FA563061103 Treasury securities 27.4 58.7 44.1 36.9 72.4 38.7 28.6 81.8 29.9 3

 4 FA563062003 Municipal securities 5.3 6.6 10.5 4.6 9.7 11.9 15.7 3.8 15.9 4

 5 FA563063003 Corporate and foreign bonds 89.3 33.6 93.7 93.9 73.4 95.5 111.9 -42.4 295.1 5

 6 FA563064100 Corporate equities 347.3 210.4 165.9 127.7 184.1 166.1 185.7 282.0 180.8 6

 7 FA563093003 Miscellaneous assets (1) 1.6 1.7 8.4 1.3 -0.0 37.3 -5.1 46.2 94.9 7

 8 FA564090005 Net share issues (liabilities) 471.0 311.0 322.6 264.3 339.6 349.6 336.8 371.4 616.7 8

 Memo:

 Net acquisition of financial assets by investment objective:

 9 FA564091600 Domestic equity funds 186.0 139.1 132.7 118.0 144.9 147.2 120.8 304.3 186.7 9

 10 FA564092603 World equity funds 159.7 70.3 29.8 23.1 3.6 -48.7 141.3 -1.0 -58.3 10

 11 FA563093003 Commodity funds (1) 1.6 1.7 8.4 1.3 -0.0 37.3 -5.1 46.2 94.9 11

 12 FA564091403 Hybrid funds 2.5 1.7 5.5 2.7 6.5 7.5 5.3 2.4 1.6 12

 13 FA564091303 Taxable bond funds 115.8 91.7 135.8 129.8 143.4 131.4 138.5 38.5 324.4 13

 14 FA564091203 Municipal bond funds 5.3 6.6 10.4 4.6 9.7 11.9 15.6 3.8 15.9 14

(1) Investments primarily in commodities, currencies, and futures.
Transactions

Z.1, September 21, 2020 41

F.125 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA406000105 Gross saving 6.8 6.1 5.6 6.3 5.2 6.2 4.7 7.3 6.3 1

 2 FA405013005 Fixed nonresidential investment 1.1 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.8 2

 3 FA404090005 Net acquisition of financial assets 141.5 111.7 205.2 202.8 243.4 221.1 153.5 1462.3 -241.9 3

 4 FA403020005 Checkable deposits and currency 0.7 -12.6 -2.2 -3.6 2.1 -8.4 1.3 429.4 -283.7 4

 5 FA403030005 Time and savings deposits 1.7 12.7 -4.4 -32.0 9.5 -13.3 18.3 0.7 -11.0 5

 6 FA402050005 Federal funds and security repos 10.6 -25.0 24.6 123.7 29.3 -87.1 32.4 -165.0 284.4 6

 7 FA404022005 Debt securities -38.6 3.0 58.4 38.6 61.9 94.3 38.5 49.5 241.6 7

 8 FA403069105 Open market paper 0.5 0.5 0.3 3.0 -2.8 0.1 0.8 4.2 -2.8 8

 9 FA403061105 Treasury securities -1.1 14.4 55.6 40.3 56.8 55.8 69.7 57.5 249.7 9

 10 FA403061705 Agency- and GSE-backed securities -19.8 -5.1 5.7 -2.3 11.7 42.4 -29.0 -7.5 -4.8 10

 11 FA403062005 Municipal securities -1.2 -0.7 -0.6 -0.4 -0.9 -1.0 -0.1 -0.2 -1.3 11

 12 FA403063005 Corporate and foreign bonds -17.0 -6.0 -2.7 -2.0 -2.8 -3.0 -2.9 -4.5 0.8 12

 13 FA404023005 Loans 207.0 149.3 96.7 45.3 90.5 156.2 95.0 1056.3 -552.6 13

 14 FA403069305 Other loans and advances 32.5 4.2 -83.2 -87.4 -79.3 -93.9 -72.2 784.9 -1140.8 14

 15 FA403069385 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA403069345 Farm Credit System 4.7 6.8 7.4 -7.3 17.1 2.5 17.2 5.3 13.0 16

 17 FA403069330 FHLB loans 27.8 -2.6 -90.6 -80.1 -96.4 -96.5 -89.4 779.6 -1153.8 17

 18 FA403065005 Mortgages 174.4 145.1 180.0 132.7 169.7 250.1 167.2 271.4 588.2 18

 19 FA403065105 One-to-four-family residential 138.7 113.4 137.7 100.7 122.3 186.5 141.4 244.8 497.4 19

 20 FA403065195 Consolidated trusts (2) 185.6 164.0 154.2 137.4 137.6 174.6 167.2 225.2 451.3 20

 21 FA403065185 Other -46.9 -50.7 -16.5 -36.6 -15.3 11.8 -25.8 19.5 46.1 21

 22 FA403065405 Multifamily residential 31.7 25.8 31.2 20.5 36.7 52.9 14.5 18.3 81.3 22

 23 FA403065495 Consolidated trusts (2) 40.7 31.1 37.3 33.7 38.5 34.5 42.6 32.1 54.8 23

 24 FA403065485 Other -9.0 -5.3 -6.2 -13.2 -1.9 18.4 -28.1 -13.8 26.5 24

 25 FA403065605 Farm 4.0 5.9 11.1 11.5 10.8 10.7 11.4 8.4 9.5 25

 26 FA403066005 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA403093005 Miscellaneous assets -39.8 -15.7 32.1 30.7 50.2 79.4 -32.1 91.3 79.5 27

 28 FA404190005 Net increase in liabilities 154.3 86.9 203.1 139.6 223.5 317.6 131.7 1437.2 -288.4 28

 29 FA402150005 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FA403161705 Debt securities (GSE issues) (3) 153.1 81.1 204.9 180.6 248.5 252.1 138.4 1388.3 -177.4 30

 31 FA403161795 Consolidated trusts (2) 226.3 195.1 191.5 171.1 176.1 209.1 209.8 257.4 506.1 31

 32 FA403161785 Other -73.2 -114.0 13.3 9.5 72.4 42.9 -71.4 1131.0 -683.5 32

 33 FA403169283 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 FA403164105 Corporate equities 0.9 4.5 -4.2 -10.8 4.1 -5.5 -4.4 27.6 -38.5 34

 35 FA403190005 Miscellaneous liabilities 0.3 1.4 2.4 -30.2 -29.0 71.0 -2.2 21.4 -72.5 35

 36 FA407005005 Discrepancy 18.6 -19.5 2.6 -57.8 -15.6 101.8 -17.9 -18.6 -41.0 36

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.126) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (F.125).

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Such issues are classified as agency- and GSE-backed securities.

F.126 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA413065005 Net acquisition of financial assets 193.8 165.9 114.7 115.8 107.1 98.4 137.3 119.5 -42.9 1

 2 FA413065105 One-to-four-family residential mortgages 141.4 123.1 76.9 87.2 80.2 51.6 88.8 108.2 -53.2 2

 3 FA413065405 Multifamily residential mortgages 53.4 43.0 38.1 28.7 26.9 46.9 49.9 11.5 10.5 3

 4 FA413065505 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA413065605 Farm mortgages -1.0 -0.2 -0.4 -0.0 -0.0 -0.0 -1.3 -0.2 -0.1 5

 6 FA413065005 Net increase in pool securities (liabilities)(2) 193.8 165.9 114.7 115.8 107.1 98.4 137.3 119.5 -42.9 6

(1) Ginnie Mae, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.126) are consolidated

 on Fannie Mae’s and Freddie Mac’s balance sheets (table F.125). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed

 CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
Transactions

42 Z.1, September 21, 2020

F.127 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA676330023 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA675013025 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA674090005 Net acquisition of financial assets -46.3 13.6 66.4 69.6 -2.0 146.2 52.0 172.5 -50.7 3

 4 FA674022005 Debt securities -8.2 8.1 12.6 15.5 8.9 10.3 15.8 -4.0 -5.8 4

 5 FA673061103 Treasury securities -8.2 8.1 12.6 15.5 8.9 10.3 15.8 -4.0 -5.8 5

 6 FA673061703 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FA674023005 Loans -44.3 -0.5 48.2 43.1 -6.0 132.9 22.9 148.9 -51.8 7

 8 FA673069005 Other loans and advances -1.5 -6.0 36.5 33.4 12.0 49.8 51.0 38.2 18.0 8

 9 FA673065005 Mortgages (2) -33.6 17.4 14.1 13.0 -14.0 87.7 -30.4 112.9 -68.1 9

 10 FA673065105 One-to-four-family residential -28.9 4.7 -5.9 6.1 12.2 20.5 -62.3 36.5 -52.4 10

 11 FA673065405 Multifamily residential -4.5 0.5 2.6 -11.0 0.9 6.3 14.2 24.4 1.1 11

 12 FA673065505 Commercial -0.2 12.2 17.3 17.8 -27.1 60.9 17.7 52.1 -16.7 12

 13 FA673066000 Consumer credit -9.1 -11.9 -2.4 -3.3 -3.9 -4.6 2.3 -2.2 -1.7 13

 14 FA673070003 Trade credit -1.5 1.4 0.6 -2.5 -1.6 -1.6 8.3 9.5 -5.9 14

 15 FA673090543 Miscellaneous assets (funding agreements) (3) 7.7 4.5 5.0 13.5 -3.4 4.7 5.0 18.0 12.8 15

 16 FA674122005 Net increase in liabilities -46.3 13.6 66.4 69.6 -2.0 146.2 52.0 172.5 -50.7 16

 17 FA673169105 Commercial paper -15.4 15.9 -5.0 -3.8 -11.3 4.5 -9.2 9.9 -1.3 17

 18 FA673163005 Corporate bonds (net) (4) -30.9 -2.3 71.4 73.4 9.3 141.7 61.2 162.5 -49.4 18

 19 FA677005005 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Memo:

 Securitized assets not included above

 20 FA675013263 Consumer leases (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA643065045 REIT assets (6) -23.6 12.2 29.2 29.9 15.2 16.4 55.1 -80.7 20.5 21

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Net issuance less net acquisition of corporate bonds held as assets.

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

 The leased automobile is a nonfinancial asset; depreciation is included in line 1, and fixed investment is included in line 2.

(6) Included in table F.129.
Transactions

Z.1, September 21, 2020 43

F.128 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA616000105 Gross saving less net capital transfers paid (2) 91.0 87.3 111.4 104.3 108.9 117.6 114.9 114.8 124.5 1

 2 FA615013005 Fixed nonresidential investment 81.7 85.0 89.6 90.4 89.7 89.3 89.0 86.0 77.7 2

 3 FA614090005 Net acquisition of financial assets -42.2 -10.4 -3.5 16.8 23.1 10.9 -64.8 161.2 -59.7 3

 4 FA613020003 Checkable deposits and currency -2.1 -4.3 -2.0 -2.2 -0.8 -2.8 -2.1 15.9 19.5 4

 5 FA613030003 Time and savings deposits -6.4 -13.0 -6.0 -6.8 -2.3 -8.5 -6.4 47.7 58.4 5

 6 FA613063003 Debt securities (corporate and foreign bonds) -10.6 -4.5 -0.5 -13.9 -11.0 10.4 12.5 7.4 -11.0 6

 7 FA614023005 Loans -22.2 -6.0 -4.6 31.8 0.8 -17.6 -33.6 16.0 -126.2 7

 8 FA613069500 Other loans and advances -0.8 9.8 -10.4 17.6 -3.1 -22.1 -34.0 51.5 -130.3 8

 9 FA613065000 Mortgages -14.4 -8.9 2.5 14.0 -3.3 1.2 -1.9 -16.2 -10.9 9

 10 FA613066005 Consumer credit -7.1 -6.9 3.2 0.2 7.2 3.3 2.2 -19.3 15.0 10

 11 FA613070103 Trade receivables 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.0 11

 12 FA613092003 U.S. direct investment abroad 16.0 -8.6 12.5 16.3 18.0 27.7 -12.1 9.9 -16.8 12

 13 FA613090005 Miscellaneous assets -16.7 26.1 -2.8 -8.5 18.5 1.6 -22.9 64.3 13.4 13

 14 FA614190005 Net increase in liabilities -54.6 -14.2 -46.7 -4.9 -18.5 10.0 -173.5 199.2 -69.7 14

 15 FA614122005 Debt securities -51.2 44.1 -43.8 -73.3 -64.1 29.3 -67.1 100.8 -12.4 15

 16 FA613169100 Open market paper 0.7 -7.5 -1.1 6.9 -4.1 -13.6 6.5 -2.4 -38.1 16

 17 FA613163005 Corporate bonds -51.9 51.6 -42.7 -80.2 -60.0 43.0 -73.6 103.1 25.7 17

 18 FA614123005 Loans -11.3 -0.4 5.9 12.1 -4.7 13.9 2.4 27.7 21.2 18

 19 FA613168005 Depository institution loans n.e.c. -11.3 2.3 5.6 12.1 -4.7 12.8 2.0 27.9 22.6 19

 20 FA613169005 Other loans and advances -0.1 -2.7 0.4 -0.0 -0.0 1.1 0.4 -0.2 -1.4 20

 21 FA613178005 Taxes payable 9.6 -2.9 -0.3 0.8 -1.8 -1.7 1.4 0.3 -2.4 21

 22 FA613192003 Foreign direct investment in U.S. 0.3 8.5 5.3 -3.3 4.0 6.8 13.8 -0.7 -0.6 22

 23 FA613190005 Miscellaneous liabilities -1.9 -63.5 -13.9 58.7 47.9 -38.3 -124.0 71.2 -75.5 23

 24 FA613194003 Investment by parent 6.4 -10.9 -5.5 -2.0 -10.6 -3.8 -5.5 -8.4 -12.7 24

 25 FA613193005 Other -8.3 -52.6 -8.4 60.6 58.6 -34.5 -118.5 79.5 -62.8 25

 26 FA617005005 Discrepancy -3.1 -1.5 -21.4 -7.8 -22.5 27.4 -82.8 66.8 36.8 26

 Memo:

 27 FA613066303 Consumer leases not included above (3) 3.7 0.6 -2.4 -4.0 -4.9 0.6 -1.3 -10.0 -20.5 27

(1) Includes retail captive finance companies and mortgage companies.

(2) Net capital transfers paid from table F.5, line 57.

(3) See footnote (5), table F.127.
Transactions

44 Z.1, September 21, 2020

F.129 Real Estate Investment Trusts (REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA646000105 Gross saving -46.8 -54.7 -29.9 -22.9 -29.6 -12.1 -54.9 -14.6 -4.0 1

 2 FA125013005 Fixed nonresidential investment 13.7 13.3 13.5 13.3 13.4 13.6 13.5 13.3 12.1 2

 3 FA125012063 Multifamily residential investment -1.7 3.5 7.1 7.3 5.2 8.0 8.0 5.9 -0.7 3

 4 FA644090005 Net acquisition of financial assets 78.4 67.2 77.5 159.1 96.6 78.5 -24.1 -471.0 -78.2 4

 5 FA643020005 Checkable deposits and currency 3.1 -4.8 9.0 -3.6 22.3 29.1 -12.0 160.6 -21.7 5

 6 FA644022005 Debt securities 56.7 26.9 62.1 121.9 90.7 26.6 9.1 -559.1 -18.7 6

 7 FA643061773 Agency- and GSE-backed securities 54.6 18.4 60.8 128.2 89.5 29.1 -3.5 -495.5 -2.4 7

 8 FA643063005 Corporate and foreign bonds 2.1 8.5 1.3 -6.3 1.2 -2.5 12.6 -63.6 -16.3 8

 9 FA643065005 Loans (mortgages) 7.1 20.2 18.5 39.3 45.0 36.9 -47.1 -92.5 -10.9 9

 10 FA643065105 One-to-four-family residential 4.8 7.7 3.3 2.5 23.6 17.5 -30.4 -86.0 -19.6 10

 11 FA643065405 Multifamily residential 1.6 1.4 7.1 12.8 1.3 3.8 10.5 -19.3 -1.7 11

 12 FA643065505 Commercial 0.7 11.1 8.1 24.0 20.1 15.6 -27.2 12.8 10.4 12

 13 FA643090005 Miscellaneous assets 11.5 24.8 -12.0 1.5 -61.5 -14.0 25.9 20.0 -26.9 13

 14 FA644190005 Net increase in liabilities 127.1 99.0 164.3 167.8 184.4 146.0 158.8 -353.9 -72.6 14

 15 FA642151073 Security repurchase agreements 54.9 43.3 71.9 123.1 121.1 17.4 26.0 -476.0 -110.8 15

 16 FA644122005 Debt securities 21.6 31.0 69.8 51.6 78.1 74.2 75.3 -40.0 133.9 16

 17 FA643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA643163005 Corporate bonds 21.6 31.0 69.8 51.6 78.1 74.2 75.3 -40.0 133.9 18

 19 FA644123005 Loans 3.9 -12.9 -7.3 -18.9 -19.4 -7.5 16.6 147.5 -134.5 19

 20 FA643168005 Depository institution loans n.e.c. 5.1 3.3 -8.9 -11.2 -12.6 -9.3 -2.5 159.3 -114.5 20

 21 FA643169373 Other loans and advances -6.8 -0.4 -0.9 0.0 -3.7 -0.5 0.6 -15.6 -11.7 21

 22 FA123165005 Mortgages 5.6 -15.8 2.4 -7.7 -3.2 2.2 18.5 3.7 -8.3 22

 23 FA643164103 Corporate equity issues 41.8 21.5 36.7 32.7 50.7 33.7 29.6 23.0 26.5 23

 24 FA643193005 Miscellaneous liabilities 4.8 16.1 -6.8 -20.8 -46.1 28.4 11.3 -8.4 12.4 24

 25 FA647005005 Discrepancy -10.1 -39.6 36.3 -34.8 39.6 33.9 106.6 83.2 -9.7 25

 Memo:

 26 FA643065045 Securitized assets included above -23.6 12.2 29.2 29.9 15.2 16.4 55.1 -80.7 20.5 26

 27 FA643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FA643065163 One-to-four-family residential mortgages -5.9 5.2 9.6 -0.2 5.6 9.0 23.9 -66.2 0.8 28

 29 FA643065443 Multifamily residential mortgages 0.8 1.6 4.9 11.1 -0.3 2.6 6.0 -19.2 0.7 29

 30 FA643065543 Commercial mortgages -18.5 5.3 14.8 19.0 9.9 4.9 25.2 4.7 19.1 30

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.129.e and F.129.m.
Transactions

Z.1, September 21, 2020 45

F.129.e Equity Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA124090005 Net acquisition of financial assets 41.7 -8.2 9.2 -19.7 19.2 36.0 1.1 161.6 3.0 1

 2 FA123020003 Checkable deposits and currency 4.8 -5.4 6.6 -2.4 14.6 27.6 -13.4 128.4 -9.8 2

 3 FA123063003 Debt securities (corporate and foreign bonds) 2.1 2.7 1.0 -1.5 3.1 0.7 1.6 -1.7 5.7 3

 4 FA123065005 Loans (mortgages) 12.2 -5.7 3.7 -0.9 5.8 5.6 4.3 3.7 0.7 4

 5 FA123065103 One-to-four-family residential 0.1 -0.0 -0.1 -0.0 -0.0 -0.0 -0.3 0.0 0.0 5

 6 FA123065403 Multifamily residential 0.2 -0.3 0.5 -0.2 0.1 0.5 1.5 -0.8 0.1 6

 7 FA123065503 Commercial 12.0 -5.4 3.3 -0.6 5.7 5.1 3.1 4.4 0.6 7

 8 FA123093005 Miscellaneous assets 22.6 0.3 -2.1 -15.0 -4.2 2.1 8.6 31.2 6.4 8

 9 FA124190005 Net increase in liabilities 52.6 5.5 38.0 -19.8 59.2 73.4 39.0 186.9 -4.8 9

 10 FA123163003 Debt securities (corporate bonds) 37.6 17.2 36.9 24.5 52.2 56.1 14.8 22.9 110.6 10

 11 FA124123005 Loans 8.9 -12.7 -3.1 -15.9 -9.6 -3.2 16.5 155.8 -120.5 11

 12 FA123168003 Depository institution loans n.e.c. 3.4 3.1 -5.5 -8.2 -6.4 -5.4 -1.9 152.0 -112.1 12

 13 FA123165005 Mortgages 5.6 -15.8 2.4 -7.7 -3.2 2.2 18.5 3.7 -8.3 13

 14 FA123165403 Multifamily residential -4.7 -4.4 -1.1 -4.7 -1.2 -2.2 3.6 2.5 1.4 14

 15 FA123165503 Commercial 10.3 -11.4 3.6 -3.0 -2.0 4.4 14.9 1.2 -9.8 15

 16 FA123193005 Miscellaneous liabilities 6.1 1.0 4.2 -28.3 16.6 20.6 7.7 8.3 5.1 16

F.129.m Mortgage Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA644090075 Net acquisition of financial assets 36.7 75.3 68.4 178.8 77.4 42.6 -25.2 -632.6 -81.2 1

 2 FA643020073 Checkable deposits and currency -1.8 0.7 2.3 -1.2 7.7 1.5 1.4 32.2 -11.8 2

 3 FA644022075 Debt securities 54.6 24.2 61.1 123.4 87.7 25.9 7.5 -557.4 -24.4 3

 4 FA643061773 Agency- and GSE-backed securities 54.6 18.4 60.8 128.2 89.5 29.1 -3.5 -495.5 -2.4 4

 5 FA643063073 Corporate and foreign bonds 0.0 5.8 0.3 -4.8 -1.9 -3.2 11.0 -61.9 -22.0 5

 6 FA643065075 Loans (mortgages) -5.1 25.9 14.8 40.2 39.3 31.3 -51.4 -96.3 -11.6 6

 7 FA643065173 One-to-four-family residential 4.8 7.8 3.4 2.5 23.6 17.5 -30.1 -86.0 -19.6 7

 8 FA643065473 Multifamily residential 1.4 1.8 6.6 13.0 1.3 3.2 9.0 -18.6 -1.8 8

 9 FA643065573 Commercial -11.3 16.4 4.8 24.7 14.4 10.5 -30.3 8.3 9.8 9

 10 FA643090075 Miscellaneous assets -11.1 24.5 -9.9 16.5 -57.2 -16.1 17.3 -11.2 -33.3 10

 11 FA644190075 Net increase in liabilities 32.7 71.9 89.6 154.9 74.4 38.9 90.2 -563.9 -94.2 11

 12 FA642151073 Security repurchase agreements 54.9 43.3 71.9 123.1 121.1 17.4 26.0 -476.0 -110.8 12

 13 FA644122075 Debt securities -15.9 13.8 32.9 27.1 26.0 18.1 60.6 -62.9 23.3 13

 14 FA643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA643163075 Corporate bonds -15.9 13.8 32.9 27.1 26.0 18.1 60.6 -62.9 23.3 15

 16 FA644123075 Loans -5.0 -0.3 -4.3 -3.0 -9.9 -4.3 0.0 -8.3 -14.0 16

 17 FA643168073 Depository institution loans n.e.c. 1.8 0.2 -3.4 -3.0 -6.2 -3.8 -0.6 7.3 -2.3 17

 18 FA643169373 Other loans and advances -6.8 -0.4 -0.9 0.0 -3.7 -0.5 0.6 -15.6 -11.7 18

 19 FA643193075 Miscellaneous liabilities -1.3 15.1 -11.0 7.5 -62.8 7.7 3.6 -16.7 7.3 19

 Memo:

 20 FA643065045 Securitized assets included above -23.6 12.2 29.2 29.9 15.2 16.4 55.1 -80.7 20.5 20

 21 FA643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA643065163 One-to-four-family residential mortgages -5.9 5.2 9.6 -0.2 5.6 9.0 23.9 -66.2 0.8 22

 23 FA643065443 Multifamily residential mortgages 0.8 1.6 4.9 11.1 -0.3 2.6 6.0 -19.2 0.7 23

 24 FA643065543 Commercial mortgages -18.5 5.3 14.8 19.0 9.9 4.9 25.2 4.7 19.1 24
Transactions

46 Z.1, September 21, 2020

F.130 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA666000105 Gross saving less net capital transfers paid (1) 8.6 8.0 28.3 22.7 25.2 35.8 29.6 30.2 34.8 1

 2 FA665013005 Fixed nonresidential investment 30.0 33.2 35.4 34.9 35.3 35.7 35.7 35.7 33.9 2

 3 FA664090005 Net acquisition of financial assets 74.7 261.8 109.7 102.5 531.3 424.9 -619.9 1125.6 -973.8 3

 4 FA663020003 Checkable deposits and currency -0.2 7.3 -1.0 -69.8 40.4 0.4 24.9 147.0 -92.1 4

 5 FA662051003 Security repurchase agreements -3.7 206.2 80.8 13.3 178.8 413.2 -282.2 348.1 -803.2 5

 6 FA664022005 Debt securities -2.7 154.7 -74.3 -64.0 -32.9 1.2 -201.5 53.1 -52.2 6

 7 FA663069103 Open market paper -4.5 2.1 -2.9 9.9 -7.8 7.2 -20.9 48.7 -30.8 7

 8 FA663061105 Treasury securities 22.3 139.1 -73.1 -57.9 -79.3 -66.0 -89.2 -77.9 4.9 8

 9 FA663061703 Agency- and GSE-backed securities -14.5 18.3 28.9 34.9 83.2 16.7 -19.2 58.1 26.8 9

 10 FA663062003 Municipal securities 5.1 -5.3 -5.2 -18.9 6.6 7.3 -15.6 -10.0 -21.1 10

 11 FA663063005 Corporate and foreign bonds -11.1 0.5 -22.0 -31.9 -35.6 36.0 -56.6 34.2 -32.0 11

 12 FA663069005 Loans (other loans and advances) 69.7 -23.8 35.1 -27.3 81.2 12.4 74.0 85.2 -87.3 12

 13 FA663064103 Corporate equities -26.3 -19.9 -22.8 -35.1 62.2 -23.2 -94.9 54.3 18.2 13

 14 FA663092003 U.S. direct investment abroad 10.4 -2.9 18.6 24.9 15.7 4.5 29.1 18.1 -10.4 14

 15 FA663090005 Miscellaneous assets 27.5 -59.8 73.3 260.4 185.8 16.4 -169.2 419.9 53.1 15

 16 FA664190005 Net increase in liabilities 112.8 259.0 125.4 168.5 574.2 447.2 -688.3 1052.1 -1026.6 16

 17 FA662151003 Security repurchase agreements 79.4 305.9 56.6 -36.4 368.4 369.1 -474.9 243.8 -542.1 17

 18 FA663163003 Debt securities (corporate bonds) 56.5 -1.7 -10.0 -8.5 95.9 -90.1 -37.4 331.7 -308.7 18

 19 FA664123005 Loans -40.7 2.1 23.4 -43.6 36.7 132.9 -32.5 831.6 -321.5 19

 20 FA663168005 Depository institution loans n.e.c. 14.1 3.8 3.4 -10.0 9.5 11.0 2.9 255.8 -245.8 20

 21 FA153067005 Other loans and advances -54.9 -1.7 20.0 -33.6 27.2 121.9 -35.4 575.8 -75.7 21

 22 FA663164103 Corporate equity issues 9.3 -2.3 22.1 8.6 64.7 2.6 12.5 31.5 -21.7 22

 23 FA663170003 Trade payables 7.9 -27.8 -1.0 -7.5 0.5 1.8 1.2 17.4 -9.3 23

 24 FA663178005 Taxes payable 10.3 0.5 -1.4 2.6 -0.7 -1.1 -6.6 5.3 8.5 24

 25 FA663192005 Foreign direct investment in U.S. 33.1 -7.1 26.8 59.9 16.3 42.9 -11.9 -158.2 -15.2 25

 26 FA663190005 Miscellaneous liabilities -43.8 -20.3 3.8 192.5 -7.6 -19.8 -150.1 -256.3 168.8 26

 27 FA663194005 Investment by parent companies -77.0 14.5 67.7 156.8 -24.3 79.7 58.5 -36.8 125.2 27

 28 FA663193005 Other 33.2 -34.7 -63.9 35.7 16.7 -99.4 -208.7 -219.5 43.7 28

 29 FA662090003 Proprietors’ net investment 1.0 9.5 5.2 0.7 -0.0 8.8 11.5 5.3 14.6 29

 30 FA667005005 Discrepancy 16.7 -28.0 8.6 53.7 32.8 22.4 -74.5 -79.0 -51.9 30

(1) Net capital transfers paid from table F.5, line 58.
Transactions

Z.1, September 21, 2020 47

F.131 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA736000105 Gross saving 185.7 173.7 171.4 206.7 185.5 164.7 128.7 173.8 79.9 1

 2 FA735013005 Fixed nonresidential investment 37.7 37.5 39.2 38.6 39.0 39.6 39.7 39.8 38.4 2

 3 FA734090005 Net acquisition of financial assets -5.8 -16.3 146.4 300.0 365.5 -1.4 -78.3 226.2 416.5 3

 4 FA733030003 Time and savings deposits -2.5 -2.4 0.1 24.4 -3.6 -13.6 -6.7 -3.8 2.6 4

 5 FA732051003 Security repurchase agreements 4.9 -4.0 0.4 -0.9 -0.8 -0.4 3.7 -0.0 80.5 5

 6 FA734022605 Debt securities 14.4 31.5 29.0 6.2 27.0 64.8 17.9 -53.9 10.3 6

 7 FA733061103 Treasury securities 13.2 12.8 22.1 -4.3 17.6 62.3 12.9 -35.0 6.6 7

 8 FA733061703 Agency- and GSE-backed securities 3.8 14.2 1.9 7.6 -3.4 -5.8 9.1 -18.3 -7.5 8

 9 FA733063003 Corporate and foreign bonds -2.7 4.5 5.0 3.0 12.8 8.3 -4.0 -0.6 11.3 9

 10 FA733069005 Loans (other loans and advances) 17.9 -18.8 13.4 11.9 22.5 51.9 -32.8 44.3 -38.7 10

 11 FA733040005 Life insurance reserves 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 11

 12 FA733090005 Miscellaneous assets -44.4 -26.7 99.5 254.4 316.3 -108.2 -64.4 235.6 357.7 12

 13 FA763194735 Net trans. with depository institution affiliates 26.8 4.8 103.0 67.7 267.7 -41.1 117.7 60.8 500.6 13

 14 FA513194733 Net trans. with property-casualty ins. co. affiliates 0.6 1.2 0.8 1.2 2.1 -0.6 0.7 -0.6 -19.3 14

 15 FA543194733 Net trans. with life insurance company affiliates 2.5 -11.0 1.1 1.8 1.7 1.0 0.1 -23.7 0.0 15

 16 FA613194733 Net trans. with finance company affiliates -6.1 -13.3 -4.8 -8.1 -2.5 -1.8 -7.0 -3.4 -1.0 16

 17 FA663194735 Net trans. with broker and dealer affiliates -55.6 -23.2 25.4 96.8 41.2 -28.7 -7.7 263.8 -204.3 17

 18 FA263194735 Net trans. with foreign affiliates -1.8 24.9 -1.2 97.2 11.6 12.5 -126.1 -46.3 69.1 18

 19 FA733093005 Other -10.8 -10.0 -24.8 -2.1 -5.4 -49.5 -42.1 -15.1 12.6 19

 20 FA734190005 Net increase in liabilities -253.6 -239.0 -150.4 -63.0 87.0 -292.7 -332.9 132.0 400.1 20

 21 FA732151003 Security repurchase agreements -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 21

 22 FA734122005 Debt securities 94.4 -46.9 44.8 158.0 139.3 -28.9 -89.1 371.5 257.6 22

 23 FA733169103 Commercial paper 2.2 1.5 -0.1 1.0 0.8 -10.2 8.1 -1.8 -2.1 23

 24 FA733163003 Corporate bonds 92.2 -48.4 44.9 157.1 138.5 -18.7 -97.2 373.3 259.7 24

 25 FA733164103 Corporate equity issues -78.6 -111.3 -149.8 -131.0 -119.8 -164.2 -184.2 -139.4 37.5 25

 26 FA733192003 Foreign direct investment in U.S. (2) -10.4 12.4 -16.4 -51.1 -2.0 -37.8 25.1 172.0 20.2 26

 27 FA733193005 Miscellaneous liabilities -258.9 -93.2 -29.0 -39.0 69.5 -61.8 -84.8 -272.2 84.8 27

 28 FA733164005 Equity, etc. -250.9 -98.2 -35.1 -32.2 64.3 -102.0 -70.5 -224.6 76.2 28

 29 FA733193015 Other -8.0 5.0 6.1 -6.8 5.2 40.2 -14.3 -47.5 8.6 29

 30 FA737005005 Discrepancy -99.8 -86.6 -164.7 -194.9 -132.0 -166.1 -165.7 39.7 25.2 30

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.

(2) Investment in U.S. Intermediate Holding Companies.
Transactions

48 Z.1, September 21, 2020

F.132 Other Financial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA504090005 Net acquisition of financial assets 69.9 81.2 0.3 115.3 -188.1 -17.3 91.3 175.6 517.7 1

 2 FA713129005 Checkable deposits and currency 38.3 -3.3 -1.1 -32.1 -5.2 50.1 -17.0 392.4 -107.1 2

 3 FA503034005 Money market fund shares 7.4 15.6 55.7 55.3 89.8 43.8 34.0 256.1 157.3 3

 4 FA502051003 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA504022005 Debt securities 62.6 -11.4 -93.8 -31.2 -146.5 -208.6 10.9 -214.5 166.8 5

 6 FA503069105 Open market paper 59.0 -9.5 -94.0 -37.3 -149.9 -212.1 23.3 -237.9 -229.1 6

 7 FA503061303 Nonmarketable Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 382.5 7

 8 FA503063005 Corporate and foreign bonds 3.6 -1.9 0.2 6.1 3.5 3.5 -12.4 23.4 8.5 8

 9 FA503062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.8 9

 10 FA503069005 Loans (other loans and advances) 3.0 -0.7 0.8 1.6 3.8 3.5 -5.9 31.0 -17.0 10

 11 FA503064105 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31.9 11

 12 FA503094505 Miscellaneous assets -41.4 81.0 38.7 121.7 -130.0 93.8 69.3 -289.3 285.7 12

 13 FA753194503 Investment in foreign banking offices -20.1 43.4 -3.5 61.7 -64.6 -14.5 3.2 11.4 -43.7 13

 14 FA663194505 Investment in brokers and dealers -21.4 37.7 42.3 60.0 -65.5 108.3 66.2 -300.6 329.4 14

 15 FA504190005 Net increase in liabilities 69.9 81.2 0.3 115.3 -188.1 -17.3 91.3 175.6 517.7 15

 16 FA504122005 Debt securities -16.9 44.7 38.0 50.9 -62.0 93.5 69.4 -369.3 300.0 16

 17 FA503169105 Open market paper 6.0 9.3 -5.7 8.8 0.2 -30.3 -1.7 -71.3 -42.4 17

 18 FA503163005 Corporate bonds -22.9 35.3 43.7 42.1 -62.2 123.8 71.1 -298.0 342.4 18

 19 FA504123005 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 61.5 19

 20 FA713068505 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 61.5 20

 21 FA503169205 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA503164105 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA503192003 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA503190005 Miscellaneous liabilities 86.8 36.5 -37.6 64.4 -126.0 -110.8 21.9 544.9 156.2 24

 25 FA663097005 Securities loaned (net) 36.4 -18.9 1.7 61.1 34.7 35.4 -124.3 234.1 12.8 25

 26 FA503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA503194205 Equity in Federal Reserve facilities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 450.0 27

 28 FA503193005 Other (net) 50.4 55.4 -39.4 3.3 -160.8 -146.2 146.2 310.8 -306.6 28

(1) Includes funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, funds associated with the Public-Private Investment Program (PPIP), Federal Reserve funding,

 credit, and liquidity facility special purpose vehicles (SPV) created in response to the 2008 Financial Crisis and COVID-19 pandemic, and deposits at Federal Reserve banks of Federal Reserve SPVs and

 designated financial market utilities (DFMU).

(2) U.S. Treasury Exchange Stabilization Fund Economic Recovery Programs equity investment in Federal Reserve SPVs.
Transactions

Z.1, September 21, 2020 49

F.133 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA266905005 Foreign income from U.S. 3961.2 4289.5 4334.5 4348.9 4379.9 4349.3 4260.1 4061.1 3383.0 1

 2 FA266903001 U.S. imports 2930.1 3138.2 3125.2 3139.0 3159.4 3137.1 3065.4 2933.0 2335.3 2

 3 FA266904101 U.S. income payments to rest of world 740.4 858.2 900.2 901.5 913.2 901.4 884.8 811.4 736.8 3

 4 FA266400101 Curr. taxes and trans. payments to rest of world 290.6 293.2 309.1 308.4 307.3 310.8 309.9 316.7 310.9 4

 5 FA266900005 Foreign outlays to U.S. 3569.6 3821.7 3831.8 3816.9 3844.1 3841.5 3824.5 3637.7 2805.1 5

 6 FA266903011 U.S. exports 2374.6 2528.7 2514.8 2523.5 2514.6 2505.2 2515.7 2438.7 1798.5 6

 7 FA266904001 U.S. income receipts from rest of world 1032.7 1142.9 1169.8 1148.0 1184.3 1181.2 1165.9 1054.6 867.1 7

 8 FA266400201 Curr. taxes and trans. payments from rest of world 162.3 150.2 147.2 145.4 145.2 155.1 142.9 144.4 139.5 8

 9 FA265440005 - Net capital transfers paid (1) -16.0 -4.5 -6.6 -10.5 -3.7 -3.7 -8.5 -12.3 -4.3 9

 10 FA266000105 Gross saving less net capital transfers paid (2) 407.5 472.3 509.4 542.6 539.4 511.5 444.1 435.8 582.2 10

 11 FA265090005 Gross investment 329.2 307.8 213.9 302.3 630.0 19.3 -96.1 -189.3 860.8 11

 12 FA265420005 Nonproduced nonfinancial assets -0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.0 0.0 0.0 12

 13 FA265000005 Net lending (+) or net borrowing (-) 329.3 307.9 213.9 302.3 630.1 19.4 -96.1 -189.4 860.8 13

 14 FA264090005 Net acquisition of financial assets 1508.7 745.0 581.1 176.1 1181.5 746.6 220.2 2925.1 163.3 14

 15 FA263011205 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA264016005 Net interbank assets 104.0 48.9 -84.0 -336.6 -107.2 55.1 52.6 1399.6 -743.4 17

 18 FA263020005 U.S. checkable deposits and currency 81.6 79.5 57.6 9.1 81.9 74.9 64.7 290.7 55.8 18

 19 FA263030005 U.S. time deposits 16.9 36.7 -5.5 -19.5 42.7 -18.0 -27.1 413.9 -87.6 19

 20 FA263034003 Money market fund shares 0.1 17.3 18.8 7.2 7.2 33.7 27.3 100.3 42.5 20

 21 FA262051005 Security repurchase agreements 31.0 -30.8 11.6 97.7 82.2 28.1 -161.6 496.4 -480.3 21

 22 FA264022005 Debt securities 652.0 142.6 444.3 763.8 356.1 523.7 133.7 -1115.4 1033.2 22

 23 FA263069103 Open market paper -6.8 -9.5 5.5 -33.1 -3.6 87.4 -28.8 -60.0 64.7 23

 24 FA263061105 Treasury securities 308.2 120.2 225.7 457.6 218.3 297.2 -70.4 -1148.2 407.7 24

 25 FA263061705 Agency- and GSE-backed securities 22.0 95.7 56.1 115.2 28.7 54.2 26.4 208.1 -214.5 25

 26 FA263062003 Municipal securities 7.1 -1.6 4.0 4.6 1.8 4.8 4.7 -3.3 17.4 26

 27 FA263063005 U.S. corporate bonds (4) 321.5 -62.2 153.1 219.4 110.9 80.1 201.8 -112.0 757.9 27

 28 FA263069500 Loans to U.S. corporate business 99.5 23.5 97.5 156.9 75.2 37.3 120.5 167.9 21.6 28

 29 FA263064105 U.S. corporate equities 116.9 110.9 -207.7 -1000.9 580.7 -169.8 -240.9 842.4 424.1 29

 30 FA263064203 Mutual fund shares 32.6 28.7 -55.2 130.8 -240.3 -33.9 -77.3 112.1 -200.5 30

 31 FA263070005 Trade receivables 45.6 33.4 18.6 36.3 14.1 8.8 15.4 41.8 28.6 31

 32 FA543141905 Life insurance reserves 2.7 -9.3 0.3 0.2 0.3 0.5 0.1 0.9 -0.2 32

 33 FA543151905 Pension entitlements 0.4 11.0 0.6 0.5 0.6 1.0 0.4 2.8 -0.4 33

 34 FA263092001 Foreign direct investment in U.S. (5) 315.0 243.4 282.1 330.0 285.2 204.0 309.0 170.0 65.2 34

 35 FA263076005 Miscellaneous assets (insurance receivables) 10.4 9.1 2.0 0.7 2.9 1.0 3.5 1.7 4.7 35

 36 FA264190005 Net increase in liabilities 1179.4 437.1 367.2 -126.2 551.4 727.2 316.3 3114.5 -697.5 36

 37 FA263111005 U.S. official reserve assets -1.7 5.0 4.7 0.8 9.4 7.5 0.8 -1.0 19.8 37

 38 FA263191005 U.S. private deposits 259.8 66.3 62.2 29.0 -73.5 89.5 203.9 725.3 -185.4 38

 39 FA262151003 Security repurchase agreements -32.8 116.4 109.1 204.1 10.3 502.8 -280.7 391.0 -137.3 39

 40 FA264122005 Debt securities 384.2 145.3 158.8 -163.5 250.6 170.6 377.4 -741.2 368.9 40

 41 FA263169105 Commercial paper 91.9 6.3 84.4 52.9 88.8 156.1 40.0 -133.5 11.0 41

 42 FA263163005 Bonds 292.3 139.0 74.3 -216.3 161.8 14.5 337.4 -607.6 357.9 42

 43 FA264123005 Loans 15.5 53.6 91.9 36.0 159.4 122.5 49.7 351.8 -148.7 43

 44 FA263168005 Depository institution loans n.e.c. 12.7 59.4 84.8 3.5 166.0 122.3 47.6 330.8 -115.9 44

 45 FA263169005 Other loans and advances 2.8 -5.8 7.1 32.6 -6.5 0.2 2.1 21.0 -32.8 45

 46 FA263164100 Foreign corporate equities (6) 139.9 171.3 -191.3 -130.8 -178.1 -208.7 -247.6 1073.5 -390.9 46

 47 FA263170005 Trade payables 7.4 2.7 2.0 -6.3 -1.2 21.0 -5.5 -8.9 -22.1 47

 48 FA263140005 Life insurance reserves 23.1 -31.6 1.8 1.3 1.7 3.3 0.7 5.5 -1.6 48

 49 FA263150005 Pension entitlements 3.6 58.7 3.1 2.6 3.1 4.9 1.9 14.1 -2.3 49

 50 FA263192005 U.S. direct investment abroad (4,5) 353.4 -169.4 118.9 -187.6 349.6 -6.2 319.7 -75.0 242.7 50

 51 FA263190005 Miscellaneous liabilities 27.0 18.7 5.9 88.2 20.0 19.7 -104.1 1379.4 -440.7 51

 52 FA313092803 U.S. equity in IBRD, etc. 1.5 1.3 1.4 0.0 5.4 0.1 0.0 5.2 0.0 52

 53 FA263191103 Nonofficial foreign currencies 6.5 -7.9 -0.5 -11.4 -5.4 3.8 11.0 1415.8 -523.2 53

 54 FA263194735 Net investment by holding companies -1.8 24.9 -1.2 97.2 11.6 12.5 -126.1 -46.3 69.1 54

 55 FA263195105 Accident and health insurance reserves -0.7 -1.5 0.8 0.5 0.5 0.7 1.4 -0.0 0.5 55

 56 FA263176005 Policy payables 21.4 1.8 5.5 1.8 7.8 2.7 9.6 4.7 12.8 56

 57 FA267005005 Discrepancy (FOF basis) 78.3 164.5 295.5 240.3 -90.5 492.2 540.2 625.1 -278.6 57

 Memo:

 58 FA266903005 Net U.S. exports, NIPA basis -555.5 -609.5 -610.5 -615.5 -644.7 -631.8 -549.8 -494.3 -536.8 58

 59 FA266904005 + Net U.S. income receipts (7) 292.3 284.7 269.6 246.5 271.2 279.8 281.1 243.2 130.3 59

 60 FA266400101 - Curr. taxes and trans. payments to rest of world 290.6 293.2 309.1 308.4 307.3 310.8 309.9 316.7 310.9 60

 61 FA266400201 + Curr. taxes and trans. payments from rest of world 162.3 150.2 147.2 145.4 145.2 155.1 142.9 144.4 139.5 61

 62 FA266000005 = Balance on current account, NIPAs -391.5 -467.8 -502.8 -532.0 -535.8 -507.8 -435.6 -423.4 -577.9 62

(1) Table F.5, line 67.

(2) Line 1 minus line 5 minus line 9. Also equal to line 62 with the sign reversed minus line 9.

(3) U.S. net sales, sign reversed.

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

(5) Direct investment is valued on a market value basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
Transactions

50 Z.1, September 21, 2020

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893111005 Net change in liabilities -1.7 5.0 4.7 0.8 9.4 7.5 0.8 -1.0 19.8 1

 2 FA313111303 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA263111005 Rest of the world -1.7 5.0 4.7 0.8 9.4 7.5 0.8 -1.0 19.8 3

 4 FA313011303 SDR holdings 0.1 0.2 0.2 0.2 0.2 0.3 0.2 0.2 0.1 4

 5 FA263111403 Reserve position in IMF -1.8 4.8 4.3 0.5 9.0 7.0 0.6 -1.3 19.6 5

 6 FA263111503 Other reserves 0.0 0.0 0.2 0.2 0.2 0.3 -0.0 0.1 0.2 6

 7 FA893011005 Net change in assets -1.7 5.0 4.7 0.8 9.4 7.5 0.8 -1.0 19.8 7

 8 FA313011005 Federal government -1.7 5.0 4.6 0.8 9.3 7.4 0.8 -1.0 19.8 8

 9 FA313011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA313011303 SDR holdings 0.1 0.2 0.2 0.2 0.2 0.3 0.2 0.2 0.1 10

 11 FA313011405 Reserve position in IMF -1.8 4.8 4.3 0.5 9.0 7.0 0.6 -1.3 19.6 11

 12 FA313011505 Other reserves 0.0 0.0 0.1 0.1 0.1 0.1 -0.0 0.1 0.1 12

 13 FA263011005 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA263011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA713011005 Monetary authority 0.0 0.0 0.1 0.1 0.1 0.1 -0.0 0.1 0.1 16

 17 FA713011203 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA713011405 Reserve position in IMF 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 18

 19 FA713011505 Other reserves 0.0 0.0 0.1 0.1 0.1 0.1 -0.0 0.1 0.1 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 FA713014003 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA713014003 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 FA313112003 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 3

 4 FA713012003 Asset: Monetary authority 0.8 0.4 0.3 0.4 0.3 0.3 0.3 0.4 0.3 4

 5 FA903012005 Discrepancy (seigniorage) -0.8 -0.4 -0.3 -0.4 -0.3 -0.3 -0.3 -0.4 -0.3 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA263191005 Total rest of the world liability 259.8 66.3 62.2 29.0 -73.5 89.5 203.9 725.3 -185.4 1

 Held by:

 2 FA153091003 Household sector 12.9 2.9 -1.0 -2.9 -5.8 -0.5 5.1 37.8 -0.8 2

 3 FA103091003 Nonfinancial corporate business 119.0 -110.3 10.3 5.5 48.6 -70.5 57.5 22.9 125.1 3

 4 FA633091003 Money market funds 1.9 -2.2 5.8 -0.3 2.8 7.1 13.8 -14.5 -6.6 4

 5 FA903091005 Discrepancy--unallocated assets 126.1 175.9 47.1 26.6 -119.2 153.4 127.6 679.1 -303.1 5
Transactions

Z.1, September 21, 2020 51

F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA794110005 Net change in liabilities 297.5 -354.1 -100.0 146.8 -1211.9 150.0 515.1 5765.6 195.0 1

 2 FA714110005 Monetary authority 196.0 -388.2 -5.7 83.0 -633.6 27.2 500.5 3796.0 1219.6 2

 3 FA764110005 U.S.-chartered depository institutions -17.0 -31.1 -16.1 132.8 -236.6 17.3 22.3 475.7 -88.4 3

 4 FA754110005 Foreign banking offices in U.S. 114.3 61.5 -77.3 -169.7 -276.7 143.2 -5.9 1427.2 -909.6 4

 5 FA744110005 Banks in U.S.-affiliated areas 0.1 -0.3 -0.3 0.2 -0.6 -0.2 -0.6 -1.2 -0.1 5

 6 FA474110005 Credit unions 4.1 4.0 -0.6 100.5 -64.4 -37.5 -1.3 67.9 -26.5 6

 7 FA894010005 Net change in assets 299.9 -339.2 -89.6 -253.9 -740.5 82.6 553.3 5501.9 503.3 7

 8 FA714010005 Monetary authority -0.0 0.1 0.1 -0.3 0.3 0.3 0.1 306.3 27.0 8

 9 FA763020005 U.S.-chartered depository institutions 48.5 -268.6 20.3 24.2 -363.6 129.8 290.8 2370.7 1931.1 9

 10 FA753020005 Foreign banking offices in U.S. 142.3 -111.4 -44.5 -85.2 -214.1 -72.6 193.9 1278.9 -916.8 10

 11 FA743013003 Banks in U.S.-affiliated areas 3.1 -1.7 -1.7 2.2 -6.1 8.9 -11.6 14.5 21.4 11

 12 FA473013005 Credit unions 2.1 -6.4 20.1 141.8 -49.8 -38.9 27.4 131.9 184.0 12

 13 FA264016005 Rest of the world 104.0 48.9 -84.0 -336.6 -107.2 55.1 52.6 1399.6 -743.4 13

 14 FA904010005 Discrepancy -2.5 -14.9 -10.4 400.7 -471.4 67.4 -38.2 263.8 -308.3 14

 Memo:

 Vault cash:

 15 FA703025005 Liab.: Monetary authority 1.2 4.9 1.4 -16.4 3.8 4.0 14.1 94.2 -31.4 15

 16 FA763025000 Asset: U.S.-chartered depository institutions 1.2 4.9 1.4 -16.4 3.8 4.0 14.1 94.2 -31.4 16

 17 FA753025003 Foreign banking offices in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 Depository institution reserves:

 18 FA713113003 Liab.: Monetary authority 194.8 -393.1 -7.1 99.3 -637.3 23.2 486.4 3701.7 1251.0 18

 19 FA763013005 Asset: U.S.-chartered depository institutions 47.3 -273.5 18.9 40.6 -367.4 125.8 276.7 2276.5 1962.5 19

 20 FA753013003 Foreign banking offices in U.S. 142.3 -111.4 -44.5 -85.2 -214.1 -72.6 193.9 1278.9 -916.8 20

 21 FA743013003 Banks in U.S.-affiliated areas 3.1 -1.7 -1.7 2.2 -6.1 8.9 -11.6 14.5 21.4 21

 22 FA473013005 Credit unions 2.1 -6.4 20.1 141.8 -49.8 -38.9 27.4 131.9 184.0 22

 Other transactions with the monetary authority

 23 FA714010075 Liab: U.S.-chartered depository institutions -0.0 0.1 0.1 -0.3 0.3 0.3 0.1 306.3 25.0 23

 24 FA713068743 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 24

 25 FA714010005 Asset: Monetary authority -0.0 0.1 0.1 -0.3 0.3 0.3 0.1 306.3 27.0 25

 26 FA713022003 Federal Reserve float -0.1 0.2 0.1 -0.1 -0.1 0.3 0.4 -0.0 -0.3 26

 27 FA713068705 Loans to depository institutions 0.1 -0.1 -0.0 -0.2 0.4 -0.0 -0.3 306.4 27.3 27

 Transactions with banks in foreign countries (net):

 28 FA764116205 Liab.: U.S.-chartered depository institutions (net) -17.1 -18.2 -19.0 -177.3 145.4 -98.1 53.9 8.1 127.8 28

 29 FA763192605 Due to foreign affiliates 37.3 -37.8 22.0 17.1 76.5 -83.9 78.2 175.5 31.4 29

 30 FA763092605 - Due from foreign affiliates 54.4 -19.5 41.0 194.4 -68.9 14.2 24.3 167.4 -96.5 30

 31 FA754116205 Foreign banking offices in U.S. (net) 123.4 67.0 -74.5 -195.8 -260.0 145.8 11.9 1395.4 -946.9 31

 32 FA753192605 Due to foreign affiliates 115.1 -34.6 0.0 -95.5 -215.6 116.0 195.2 1318.0 -796.4 32

 33 FA753092605 - Due from foreign affiliates -8.2 -101.6 74.5 100.3 44.4 -29.9 183.3 -77.4 150.6 33

 34 FA264116205 Less: Deposits at foreign banks 0.5 2.3 -3.5 -7.1 -6.9 5.6 -5.4 8.8 -7.7 34

 35 FA764016205 U.S.-chartered depository institutions 2.1 3.4 -2.6 -0.4 -9.3 6.9 -7.7 15.2 2.8 35

 36 FA754016205 Foreign banking offices in U.S. -1.6 -1.1 -0.8 -6.8 2.5 -1.3 2.3 -6.4 -10.5 36

 37 FA264135125 Loans to foreign banks 1.0 -3.1 -2.3 -20.2 -0.1 -0.2 11.4 -4.3 -49.3 37

 38 FA764035125 U.S.-chartered depository institutions -2.9 0.1 0.0 -9.8 -1.1 3.9 7.1 3.8 -23.5 38

 39 FA754035125 Foreign banking offices in U.S. 3.9 -3.2 -2.3 -10.3 1.0 -4.1 4.2 -8.1 -25.8 39

 40 FA264035125 Plus: Loans from foreign banks -0.9 -0.8 3.8 9.2 0.4 12.8 -7.2 0.7 18.8 40

 41 FA274135123 U.S.-chartered depository institutions 0.8 -0.2 2.6 2.1 0.6 11.2 -3.5 -1.2 15.2 41

 42 FA284135125 Foreign banking offices in U.S. -1.7 -0.6 1.2 7.1 -0.2 1.5 -3.8 1.8 3.6 42

 43 FA264016005 Asset: Rest of the world (1) 104.0 48.9 -84.0 -336.6 -107.2 55.1 52.6 1399.6 -743.4 43

 Transactions between U.S. depository institutions (net):

 44 FA764112005 U.S.-chartered depository institutions (net) -1.6 -9.2 -2.4 298.1 -393.4 114.7 -28.8 181.5 -277.1 44

 45 FA764112205 Due to (3): -4.6 -20.8 -9.8 304.7 -407.0 103.0 -40.0 201.8 -289.8 45

 46 FA754012205 Foreign banking offices in U.S. 2.1 -2.2 -0.4 4.7 -0.6 -2.1 -3.6 4.8 -10.1 46

 47 FA743020005 Banks in U.S.-affiliated areas -0.1 0.3 0.3 -0.2 0.6 0.2 0.6 1.2 0.1 47

 48 FA474012205 Credit unions -4.1 -4.0 0.6 -100.5 64.4 37.5 1.3 -67.9 28.5 48

 49 FA754112205 - Due from: Foreign banking offices in U.S. -3.0 -11.5 -7.4 6.7 -13.6 -11.7 -11.1 20.3 -12.7 49

 50 FA904010005 Unallocated (2) -2.5 -14.9 -10.4 400.7 -471.4 67.4 -38.2 263.8 -308.3 50

(1) Sum of lines 28 and 31 less line 34 and line 37 plus line 40.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 13 above. However, the unallocated amount (line 50), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 46, 47, 48, and 50.
Transactions

52 Z.1, September 21, 2020

F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA793120005 Net change in liabilities 145.4 315.4 261.4 -279.7 172.8 854.3 298.0 3779.0 7872.0 1

 2 FA713120005 Monetary authority -38.3 259.5 89.6 -105.4 -141.5 513.3 92.1 1659.6 4914.6 2

 3 FA713123005 Federal government cash and deposits -170.2 173.2 1.7 -123.0 -220.9 360.2 -9.6 559.5 4937.5 3

 4 FA713124005 Due to government-sponsored enterprises -13.8 -6.8 2.1 -14.8 3.7 3.3 16.1 434.4 -312.2 4

 5 FA713129005 Due to other financial business 38.3 -3.3 -1.1 -32.1 -5.2 50.1 -17.0 392.4 -107.1 5

 6 FA713122605 Deposits due to foreign 0.1 -0.0 -0.1 -0.0 0.0 -0.2 -0.0 48.9 -4.7 6

 7 FA713125005 Currency outside banks 107.4 96.4 87.0 64.5 80.9 100.0 102.7 224.5 401.2 7

 8 FA763127005 U.S.-chartered depository institutions 135.7 38.3 137.8 -223.3 279.4 296.7 198.4 1851.7 2793.8 8

 9 FA763123005 Federal government deposits -0.3 -0.1 -0.1 -0.8 -0.0 1.4 -1.1 -0.2 0.9 9

 10 FA763128000 State and local government deposits -2.5 -7.6 6.2 -3.8 2.8 10.3 15.3 15.6 113.0 10

 11 FA763122605 Deposits due to foreign 2.1 15.0 10.0 -3.1 53.6 -9.2 -1.3 53.7 -68.5 11

 12 FA763129205 Private domestic deposits 136.4 31.1 121.8 -215.5 223.0 294.2 185.5 1782.6 2748.4 12

 13 FA753127005 Foreign banking offices in U.S. 32.3 -7.3 10.7 51.4 26.5 -13.4 -21.6 193.4 9.6 13

 14 FA753122603 Deposits due to foreign 9.6 -0.8 -3.6 -8.7 -9.2 7.9 -4.3 84.1 11.4 14

 15 FA753129205 Private domestic deposits 22.7 -6.5 14.3 60.1 35.7 -21.4 -17.3 109.3 -1.7 15

 16 FA743127003 Banks in U.S.-affiliated areas 0.3 3.5 4.8 0.5 9.3 13.6 -4.1 -1.1 31.4 16

 17 FA473127003 Credit unions 15.3 21.3 18.4 -2.8 -1.0 44.2 33.2 75.2 122.6 17

 18 FA793120005 Net change in assets 145.4 315.4 261.4 -279.7 172.8 854.3 298.0 3779.0 7872.0 18

 19 FA153020005 Household sector 177.4 -95.0 19.2 77.5 -293.9 -220.0 513.4 317.7 2180.3 19

 20 FA143020005 Nonfinancial business 10.6 258.1 105.4 -193.5 370.6 680.8 -436.3 1366.3 1173.5 20

 21 FA103020000 Corporate -16.2 238.0 82.6 -215.8 350.4 655.3 -459.3 1138.5 935.3 21

 22 FA113020005 Noncorporate 26.8 20.2 22.8 22.3 20.2 25.5 23.1 227.8 238.2 22

 23 FA313020005 Federal government -170.2 173.5 1.0 -77.0 -284.9 423.0 -57.0 642.6 4840.1 23

 24 FA213020005 State and local governments -2.5 -7.6 6.2 -3.8 2.8 10.3 15.3 15.6 113.0 24

 25 FA793020005 Domestic financial sectors 48.5 -92.6 71.9 -45.0 231.5 -55.4 156.5 1229.9 -590.2 25

 26 FA513020005 Property-casualty insurance companies 4.3 -1.7 17.4 8.3 34.9 17.8 8.5 -2.5 50.0 26

 27 FA543020005 Life insurance companies 17.6 -0.4 4.0 -5.6 27.8 38.2 -44.3 190.8 -19.2 27

 28 FA573020005 Private pension funds 4.7 -5.0 0.2 -0.0 1.0 -0.1 -0.1 1.5 0.4 28

 29 FA343020033 Federal government retirement funds 0.1 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 29

 30 FA223020043 State and local govt. retirement funds -10.4 -1.7 2.9 7.1 23.7 5.6 -24.9 -0.2 1.0 30

 31 FA633020000 Money market funds -7.5 -65.8 44.9 56.8 85.4 -185.1 222.4 -104.8 -137.2 31

 32 FA403020005 Government-sponsored enterprises 0.7 -12.6 -2.2 -3.6 2.1 -8.4 1.3 429.4 -283.7 32

 33 FA613020003 Finance companies -2.1 -4.3 -2.0 -2.2 -0.8 -2.8 -2.1 15.9 19.5 33

 34 FA643020005 REITs 3.1 -4.8 9.0 -3.6 22.3 29.1 -12.0 160.6 -21.7 34

 35 FA663020003 Brokers and dealers -0.2 7.3 -1.0 -69.8 40.4 0.4 24.9 147.0 -92.1 35

 36 FA713129005 Other financial business 38.3 -3.3 -1.1 -32.1 -5.2 50.1 -17.0 392.4 -107.1 36

 37 FA263020005 Rest of the world 81.6 79.5 57.6 9.1 81.9 74.9 64.7 290.7 55.8 37

 38 FA263027003 Checkable deposits 11.9 14.2 6.3 -11.9 44.5 -1.5 -5.6 186.7 -61.8 38

 39 FA263025003 Currency 69.7 65.3 51.3 21.0 37.4 76.4 70.3 104.1 117.6 39

 40 FA903020005 Mail float -0.1 -0.6 -0.0 -46.8 64.8 -59.4 41.4 -83.9 99.6 40
Transactions

Z.1, September 21, 2020 53

F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA703130005 Net change in liabilities 338.4 530.1 683.4 746.8 790.9 547.0 649.0 2319.2 3134.4 1

 2 FA763130005 U.S.-chartered depository institutions 265.9 491.9 510.9 449.4 663.4 582.4 348.2 2470.9 2484.2 2

 3 FA753130005 Foreign banking offices in U.S. 25.9 -1.9 89.0 191.2 53.7 -86.1 197.1 -195.8 240.5 3

 4 FA743130003 Banks in U.S.-affiliated areas -4.6 0.4 1.4 -3.3 3.2 7.1 -1.6 2.3 4.8 4

 5 FA473130005 Credit unions 51.3 39.8 82.2 109.4 70.6 43.6 105.3 41.7 405.0 5

 6 FA703130005 Net change in assets 338.4 530.1 683.4 746.8 790.9 547.0 649.0 2319.2 3134.4 6

 7 FA153030005 Household sector 191.0 397.8 530.8 555.7 524.5 577.6 465.2 1329.3 2953.6 7

 8 FA143030005 Nonfinancial business 83.4 84.1 75.7 121.3 67.9 0.6 112.9 604.6 310.3 8

 9 FA103030003 Corporate -7.7 5.8 8.9 56.3 10.2 -75.8 45.0 301.4 80.8 9

 10 FA113030003 Noncorporate 91.1 78.2 66.7 65.0 57.7 76.3 67.8 303.2 229.5 10

 11 FA313030003 Federal government 0.4 0.1 0.3 0.1 1.0 1.3 -1.3 -1.6 0.6 11

 12 FA213030000 State and local governments 14.1 7.9 19.8 28.1 26.1 13.5 11.4 54.6 17.8 12

 13 FA793030005 Domestic financial sectors 32.6 3.6 62.4 61.1 128.6 -28.0 88.0 -81.7 -60.3 13

 14 FA573030005 Private pension funds 3.6 -5.0 -0.3 -0.6 1.5 -1.1 -0.9 1.9 0.4 14

 15 FA223030043 State and local govt. retirement funds -0.4 -0.4 4.7 0.5 6.3 1.2 10.9 0.0 4.6 15

 16 FA633030000 Money market funds 36.7 11.7 68.2 75.6 117.4 7.2 72.9 -128.1 -115.4 16

 17 FA403030005 Government-sponsored enterprises 1.7 12.7 -4.4 -32.0 9.5 -13.3 18.3 0.7 -11.0 17

 18 FA613030003 Finance companies -6.4 -13.0 -6.0 -6.8 -2.3 -8.5 -6.4 47.7 58.4 18

 19 FA733030003 Holding companies -2.5 -2.4 0.1 24.4 -3.6 -13.6 -6.7 -3.8 2.6 19

 20 FA263030005 Rest of the world 16.9 36.7 -5.5 -19.5 42.7 -18.0 -27.1 413.9 -87.6 20

F.206 Money Market Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA634090005 Net issues 117.2 189.9 596.0 452.6 627.7 793.3 510.4 3093.7 1300.9 1

 2 FA634090005 Net purchases 117.2 189.9 596.0 452.6 627.7 793.3 510.4 3093.7 1300.9 2

 3 FA153034005 Household sector 59.4 178.1 408.3 298.1 402.6 554.7 377.9 1027.8 832.0 3

 4 FA103034000 Nonfinancial corporate business 35.6 -33.4 92.2 80.9 104.0 116.3 67.6 1486.1 207.1 4

 5 FA113034003 Nonfinancial noncorporate business 9.1 7.8 6.7 6.5 5.8 7.6 6.8 30.2 12.9 5

 6 FA213034003 State and local governments 0.3 -2.1 6.8 3.5 5.9 9.3 8.3 20.6 8.7 6

 7 FA513034005 Property-casualty insurance companies 4.0 2.7 2.5 -1.6 14.5 1.6 -4.5 -12.1 26.4 7

 8 FA543034005 Life insurance companies 3.6 6.7 3.6 -11.9 18.5 21.7 -13.8 134.6 6.3 8

 9 FA573034005 Private pension funds 0.6 -0.4 1.5 0.5 3.7 1.4 0.5 12.8 2.0 9

 10 FA223034005 State and local govt. retirement funds -3.0 -2.4 -0.1 14.2 -24.3 3.2 6.3 37.4 5.6 10

 11 FA503034005 Other financial business 7.4 15.6 55.7 55.3 89.8 43.8 34.0 256.1 157.3 11

 12 FA263034003 Rest of the world 0.1 17.3 18.8 7.2 7.2 33.7 27.3 100.3 42.5 12
Transactions

54 Z.1, September 21, 2020

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA892150005 Net change in liabilities 27.0 131.8 334.0 123.7 910.9 959.1 -657.5 1475.0 -2545.4 1

 2 FA712151003 Monetary authority -161.3 -259.9 32.6 -194.7 320.1 -88.0 93.1 929.7 -1344.5 2

 3 FA762150005 U.S.-chartered depository institutions 7.9 -27.3 23.9 35.7 7.4 105.6 -53.1 96.4 -2.5 3

 4 FA762152005 Federal funds (2) 13.2 -5.8 -1.7 34.2 -13.0 -4.3 -23.5 41.6 -58.3 4

 5 FA762151005 Security repurchase agreements -5.3 -21.5 25.6 1.5 20.4 109.9 -29.6 54.8 55.9 5

 6 FA752150005 Foreign banking offices in U.S. 79.2 -48.9 46.4 -6.2 85.0 61.8 45.0 251.1 -403.2 6

 7 FA752152005 Federal funds (2) -5.8 -10.0 1.3 33.9 -22.0 -6.2 -0.6 25.9 -15.0 7

 8 FA752151005 Security repurchase agreements 85.0 -38.9 45.1 -40.1 107.0 68.0 45.6 225.2 -388.1 8

 9 FA472150053 Credit unions -0.0 -0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 9

 10 FA512151003 Property-casualty insurance companies -0.0 -0.2 -0.0 0.1 -0.1 -0.1 0.0 0.7 -0.4 10

 11 FA542151073 Life insurance companies -0.3 2.7 -6.5 -2.1 -1.5 -9.6 -13.0 38.4 -4.8 11

 12 FA402150005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA642151073 REITs 54.9 43.3 71.9 123.1 121.1 17.4 26.0 -476.0 -110.8 13

 14 FA662151003 Brokers and dealers 79.4 305.9 56.6 -36.4 368.4 369.1 -474.9 243.8 -542.1 14

 15 FA732151003 Holding companies -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 15

 16 FA262151003 Rest of the world -32.8 116.4 109.1 204.1 10.3 502.8 -280.7 391.0 -137.3 16

 17 FA892050005 Net change in assets 241.4 373.3 595.4 623.6 748.8 1254.9 -245.6 1978.5 -3477.4 17

 18 FA102051003 Nonfinancial corporate business -50.7 -25.0 -2.4 -9.9 -7.2 -0.6 8.2 48.8 19.7 18

 19 FA212051003 State and local governments 1.6 -5.5 3.2 2.7 -24.2 13.7 20.6 -32.4 3.3 19

 20 FA712051000 Monetary authority 0.0 0.0 255.6 0.0 0.0 810.0 212.5 28.4 -819.1 20

 21 FA762050005 U.S.-chartered depository institutions 4.0 160.3 -24.3 -93.5 67.8 -176.2 104.6 -108.9 916.0 21

 22 FA762052005 Federal funds (2) 3.2 -4.1 3.9 15.3 -20.4 9.3 11.4 -11.4 42.6 22

 23 FA762051005 Security repurchase agreements 0.8 164.5 -28.2 -108.8 88.2 -185.5 93.2 -97.5 873.5 23

 24 FA752050005 Foreign banking offices in U.S. 75.1 50.9 60.0 183.2 67.4 85.0 -95.5 -207.4 -99.9 24

 25 FA752052005 Federal funds (2) 0.3 0.3 -0.9 3.5 -6.7 6.9 -7.2 1.2 2.0 25

 26 FA752051005 Security repurchase agreements 74.8 50.6 60.9 179.7 74.1 78.1 -88.3 -208.5 -101.9 26

 27 FA472050053 Credit unions 0.1 0.0 0.6 1.6 0.6 0.2 0.1 -0.1 -0.1 27

 28 FA472052053 Federal funds 0.0 0.1 0.1 0.8 -0.2 0.4 -0.5 0.2 -0.7 28

 29 FA472051053 Security repurchase agreements 0.1 -0.1 0.5 0.8 0.8 -0.2 0.6 -0.3 0.6 29

 30 FA512051005 Property-casualty insurance companies 0.0 -0.0 0.6 1.5 0.3 -0.4 1.0 1.8 -1.6 30

 31 FA542051075 Life insurance companies -0.4 0.2 4.1 4.6 5.3 4.0 2.6 13.9 -9.1 31

 32 FA572051005 Private pension funds 0.4 -0.5 -0.0 -0.1 0.1 -0.1 -0.1 0.2 0.0 32

 33 FA222051043 State and local govt. retirement funds -0.2 -0.2 3.7 1.1 -0.8 32.8 -18.1 -0.5 3.3 33

 34 FA632051000 Money market funds 154.8 63.0 155.7 204.6 342.1 151.2 -75.3 1537.2 -2551.4 34

 35 FA652051003 Mutual funds 14.0 -16.4 21.2 93.9 7.7 -18.6 1.7 17.9 -19.9 35

 36 FA402050005 Government-sponsored enterprises 10.6 -25.0 24.6 123.7 29.3 -87.1 32.4 -165.0 284.4 36

 37 FA402052033 Of which: FHLB federal funds (3) 16.9 -11.3 -2.9 84.6 -2.1 -75.5 -18.3 92.0 -82.8 37

 38 FA662051003 Brokers and dealers -3.7 206.2 80.8 13.3 178.8 413.2 -282.2 348.1 -803.2 38

 39 FA732051003 Holding companies 4.9 -4.0 0.4 -0.9 -0.8 -0.4 3.7 -0.0 80.5 39

 40 FA502051003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 FA262051005 Rest of the world 31.0 -30.8 11.6 97.7 82.2 28.1 -161.6 496.4 -480.3 41

 42 FA902050005 Discrepancy -214.4 -241.4 -261.4 -499.9 162.1 -295.9 -412.0 -503.4 932.0 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations:

 43 FA712151103 Liability: Monetary authority (4) -148.8 -277.7 22.2 -164.5 174.3 -149.0 228.1 883.3 -1135.8 43

 44 FA632051103 Asset: Money market funds (5) -115.3 -248.5 7.2 -155.7 171.6 -146.2 159.3 952.0 -1135.8 44

 45 FA792051115 Other financial institutions (6) -33.5 -29.3 15.0 -8.7 2.7 -2.8 68.8 -68.8 -0.0 45

(1) Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 1997:Q1 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) Included in line 2.

(5) Included in line 34.

(6) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
Transactions

Z.1, September 21, 2020 55

F.208 Debt Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 By instrument

 1 FA894122005 Net issues 1493.0 1999.5 2043.8 1607.4 1541.5 3482.2 1544.1 4326.8 13581.5 1

 2 FA893169175 Open market paper 81.1 30.0 49.3 118.5 5.1 59.8 13.8 -134.7 -369.4 2

 3 FA313161105 Treasury securities 447.0 1411.2 1176.6 849.1 570.4 2410.8 876.1 2168.3 11598.7 3

 4 FA893161705 Agency- and GSE-backed securities 346.9 245.5 317.8 293.5 354.8 348.3 274.7 1507.7 -220.9 4

 5 FA383162005 Municipal securities 14.6 -57.2 19.9 -11.2 -54.2 38.3 106.8 29.3 94.4 5

 6 FA893163005 Corporate and foreign bonds 603.5 370.0 480.2 357.7 665.3 625.1 272.7 756.2 2478.7 6

 By sector

 7 FA894122005 Net issues 1493.0 1999.5 2043.8 1607.4 1541.5 3482.2 1544.1 4326.8 13581.5 7

 8 FA384122005 Domestic nonfinancial sectors 769.0 1495.5 1440.3 1285.0 768.5 2814.5 893.1 2849.6 13108.4 8

 9 FA163162003 Nonprofit organizations (2) 1.6 -2.3 -3.2 -4.1 -2.6 -1.5 -4.5 -11.5 -9.5 9

 10 FA104122005 Nonfinancial corporate business 320.8 138.8 259.7 463.9 258.8 381.4 -65.3 666.9 1412.9 10

 11 FA314122005 Federal government 447.0 1409.8 1174.9 846.1 569.6 2408.6 875.2 2168.2 11598.1 11

 12 FA213162005 State and local governments -0.4 -50.8 8.9 -20.9 -57.3 26.0 87.8 25.9 106.9 12

 13 FA794122005 Domestic financial sectors 339.8 358.7 444.7 485.9 522.4 497.1 273.6 2218.4 104.1 13

 14 FA764122005 U.S.-chartered depository institutions -54.3 24.2 -37.8 -47.5 -21.2 -82.2 -0.1 93.0 36.2 14

 15 FA753169175 Foreign banking offices in U.S. -11.1 2.7 -2.3 -11.5 2.9 4.6 -5.1 50.5 -31.5 15

 16 FA403161705 Government-sponsored enterprises 153.1 81.1 204.9 180.6 248.5 252.1 138.4 1388.3 -177.4 16

 17 FA413065005 Agency- and GSE-backed mortgage pools 193.8 165.9 114.7 115.8 107.1 98.4 137.3 119.5 -42.9 17

 18 FA674122005 ABS issuers -46.3 13.6 66.4 69.6 -2.0 146.2 52.0 172.5 -50.7 18

 19 FA614122005 Finance companies -51.2 44.1 -43.8 -73.3 -64.1 29.3 -67.1 100.8 -12.4 19

 20 FA644122005 REITs 21.6 31.0 69.8 51.6 78.1 74.2 75.3 -40.0 133.9 20

 21 FA663163003 Brokers and dealers 56.5 -1.7 -10.0 -8.5 95.9 -90.1 -37.4 331.7 -308.7 21

 22 FA734122005 Holding companies 94.4 -46.9 44.8 158.0 139.3 -28.9 -89.1 371.5 257.6 22

 23 FA504122005 Other financial business -16.9 44.7 38.0 50.9 -62.0 93.5 69.4 -369.3 300.0 23

 24 FA264122005 Rest of the world 384.2 145.3 158.8 -163.5 250.6 170.6 377.4 -741.2 368.9 24

 25 FA894122005 Net purchases 1493.0 1999.5 2043.8 1607.4 1541.5 3482.2 1544.1 4326.8 13581.5 25

 26 FA384022005 Domestic nonfinancial sectors -19.4 868.8 438.6 696.0 1223.1 -7.0 -157.9 -218.8 -4.4 26

 27 FA154022005 Household sector -46.1 894.4 385.8 768.7 1522.2 -244.4 -503.4 -82.3 -669.6 27

 28 FA104022005 Nonfinancial corporate business 28.8 19.1 71.5 14.2 77.8 154.1 40.1 151.9 41.7 28

 29 FA114022005 Nonfinancial noncorporate business 6.9 7.0 1.5 -0.5 -3.6 -0.0 10.2 -3.1 11.9 29

 30 FA314022005 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA214022005 State and local governments -8.9 -51.7 -20.3 -86.4 -373.3 83.3 295.2 -285.4 611.5 31

 32 FA794022005 Domestic financial sectors 860.4 988.1 1160.9 147.5 -37.6 2965.4 1568.3 5661.0 12552.6 32

 33 FA714022005 Monetary authority -10.9 -379.5 -137.5 -382.3 -518.9 -264.5 615.8 4281.5 6046.3 33

 34 FA764022005 U.S.-chartered depository institutions 110.5 76.4 242.8 259.2 225.9 421.9 64.2 580.8 1181.3 34

 35 FA754022005 Foreign banking offices in U.S. 27.3 26.4 -30.1 -55.7 15.9 12.9 -93.5 104.5 -74.6 35

 36 FA744022003 Banks in U.S.-affiliated areas 1.6 5.1 13.2 4.0 30.1 7.5 11.1 -3.5 15.9 36

 37 FA474022005 Credit unions -5.7 -9.1 11.1 20.2 -8.2 3.9 28.5 11.5 179.7 37

 38 FA514022005 Property-casualty insurance companies 33.0 43.7 29.7 48.8 11.2 28.1 30.7 69.9 92.4 38

 39 FA544022005 Life insurance companies 77.0 89.1 124.6 143.1 166.3 185.9 3.1 377.7 181.8 39

 40 FA574022005 Private pension funds 145.7 82.3 88.9 123.6 -119.9 188.4 163.5 39.7 -7.8 40

 41 FA344022005 Federal government retirement funds -83.2 309.3 112.9 -849.0 -98.1 1285.1 113.5 183.3 199.8 41

 42 FA224022045 State and local govt. retirement funds 52.5 56.9 -100.6 31.5 -178.9 -71.8 -183.3 7.6 -206.6 42

 43 FA634022005 Money market funds -68.1 181.7 319.0 334.2 29.8 673.7 238.2 1680.6 3876.3 43

 44 FA654022005 Mutual funds 383.7 196.2 342.0 256.1 252.0 342.7 517.2 -998.0 397.0 44

 45 FA554022005 Closed-end funds 1.2 2.2 3.2 5.1 1.5 6.4 -0.1 3.6 -1.0 45

 46 FA564022005 Exchange-traded funds 122.0 99.0 148.3 135.4 155.5 146.1 156.2 43.2 340.9 46

 47 FA404022005 Government-sponsored enterprises -38.6 3.0 58.4 38.6 61.9 94.3 38.5 49.5 241.6 47

 48 FA674022005 ABS issuers -8.2 8.1 12.6 15.5 8.9 10.3 15.8 -4.0 -5.8 48

 49 FA613063003 Finance companies -10.6 -4.5 -0.5 -13.9 -11.0 10.4 12.5 7.4 -11.0 49

 50 FA644022005 REITs 56.7 26.9 62.1 121.9 90.7 26.6 9.1 -559.1 -18.7 50

 51 FA664022005 Brokers and dealers -2.7 154.7 -74.3 -64.0 -32.9 1.2 -201.5 53.1 -52.2 51

 52 FA734022605 Holding companies 14.4 31.5 29.0 6.2 27.0 64.8 17.9 -53.9 10.3 52

 53 FA504022005 Other financial business 62.6 -11.4 -93.8 -31.2 -146.5 -208.6 10.9 -214.5 166.8 53

 54 FA264022005 Rest of the world 652.0 142.6 444.3 763.8 356.1 523.7 133.7 -1115.4 1033.2 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.

(2) Liability of the households and nonprofit organizations sector (table F.101).
Transactions

56 Z.1, September 21, 2020

F.209 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893169175 Net issues 81.1 30.0 49.3 118.5 5.1 59.8 13.8 -134.7 -369.4 1

 2 FA893169105 Commercial paper 81.1 30.0 49.3 118.5 5.1 59.8 13.8 -134.7 -369.4 2

 3 FA103169100 Nonfinancial corporate business 25.9 -10.2 -1.9 87.8 -61.6 -10.4 -23.5 -32.6 -282.4 3

 4 FA263169105 Foreign issues in U.S. 91.9 6.3 84.4 52.9 88.8 156.1 40.0 -133.5 11.0 4

 5 FA263169110 Nonfinancial 0.5 6.4 6.3 26.3 22.5 -39.6 15.8 7.8 -12.2 5

 6 FA263169123 Financial 91.4 -0.1 78.2 26.6 66.3 195.7 24.2 -141.3 23.1 6

 7 FA793169100 Domestic financial sectors -36.8 33.9 -33.2 -22.2 -22.1 -86.0 -2.7 31.4 -98.0 7

 8 FA763169103 U.S.-chartered depository institutions -19.2 12.0 -19.1 -23.6 -10.6 -41.0 -1.3 46.5 17.4 8

 9 FA753169103 Foreign banking offices in U.S. -11.1 2.7 -2.3 -11.5 2.9 4.6 -5.1 50.5 -31.5 9

 10 FA673169105 ABS issuers -15.4 15.9 -5.0 -3.8 -11.3 4.5 -9.2 9.9 -1.3 10

 11 FA613169100 Finance companies 0.7 -7.5 -1.1 6.9 -4.1 -13.6 6.5 -2.4 -38.1 11

 12 FA643169173 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA733169103 Holding companies 2.2 1.5 -0.1 1.0 0.8 -10.2 8.1 -1.8 -2.1 13

 14 FA503169105 Other financial business 6.0 9.3 -5.7 8.8 0.2 -30.3 -1.7 -71.3 -42.4 14

 15 FA703169605 Bankers’ acceptances (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA763169603 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA753169603 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA893169175 Net purchases 81.1 30.0 49.3 118.5 5.1 59.8 13.8 -134.7 -369.4 18

 19 FA103069100 Nonfinancial corporate business -8.8 38.4 83.1 5.1 121.9 181.0 24.4 58.5 -38.4 19

 20 FA213069103 State and local governments 0.8 -2.6 1.5 1.3 -11.5 6.5 9.8 -15.4 5.3 20

 21 FA713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA763069175 U.S.-chartered depository institutions (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 110.2 -63.2 22

 23 FA753069603 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA473069153 Credit unions -0.0 0.2 0.5 0.4 0.6 0.0 1.1 1.8 -1.9 24

 25 FA513069105 Property-casualty insurance companies -8.9 -2.2 0.5 5.4 -1.7 -4.7 2.8 -11.6 -1.1 25

 26 FA543069105 Life insurance companies -8.6 -4.9 -4.4 0.2 0.8 -9.2 -9.4 -6.9 -8.9 26

 27 FA573069105 Private pension funds 3.8 -5.3 -0.2 -0.6 1.7 -1.1 -0.9 2.2 0.5 27

 28 FA223069143 State and local govt. retirement funds -2.2 -1.9 -5.3 13.0 -7.1 -24.2 -2.9 15.1 -4.8 28

 29 FA633069175 Money market funds 42.9 41.1 43.5 69.2 50.2 39.6 15.2 -52.2 -42.8 29

 30 FA653069100 Mutual funds 14.0 -16.4 21.2 82.0 14.1 -10.8 -0.5 8.6 -16.2 30

 31 FA403069105 Government-sponsored enterprises 0.5 0.5 0.3 3.0 -2.8 0.1 0.8 4.2 -2.8 31

 32 FA663069103 Brokers and dealers -4.5 2.1 -2.9 9.9 -7.8 7.2 -20.9 48.7 -30.8 32

 33 FA503069105 Other financial business 59.0 -9.5 -94.0 -37.3 -149.9 -212.1 23.3 -237.9 -229.1 33

 34 FA263069103 Rest of the world -6.8 -9.5 5.5 -33.1 -3.6 87.4 -28.8 -60.0 64.7 34

(1) Excludes banks’ holdings of own acceptances.
Transactions

Z.1, September 21, 2020 57

F.210 Treasury Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA313161105 Net issues 447.0 1411.2 1176.6 849.1 570.4 2410.8 876.1 2168.3 11598.7 1

 2 FA313161205 Marketable Treasury securities 554.4 1131.6 1062.7 1720.8 728.0 1111.5 690.6 1947.7 11004.8 2

 3 FA313161110 Treasury bills 136.9 386.9 77.0 305.0 -248.2 369.2 -117.8 962.7 9687.0 3

 4 FA313161275 Other Treasury notes, bonds, and TIPS 419.1 745.9 987.2 1415.8 982.3 742.2 808.4 985.0 1324.0 4

 5 FA313161283 Held in the Civil Service Retirement Fund (2) -1.6 -1.1 -1.5 0.0 -6.1 0.0 0.0 0.0 -6.2 5

 6 FA313161305 Nonmarketable Treasury securities -107.3 279.6 113.9 -871.7 -157.5 1299.3 185.6 220.6 593.9 6

 7 FA313161400 U.S. savings securities -5.4 -4.7 -4.4 -4.7 -4.6 -4.3 -4.1 -5.0 -1.3 7

 8 FA213061120 State and local government series (SLGS) -17.3 -26.3 11.6 -13.8 -40.1 34.2 65.9 30.0 39.7 8

 9 FA343061123 Thrift Savings Plan G Fund -153.6 184.6 -2.6 -853.1 13.8 799.3 29.6 66.7 42.9 9

 10 FA343061145 Federal govt. defined benefit pension plans 70.0 126.3 113.4 0.2 -109.8 481.8 81.2 128.3 153.1 10

 11 FA503061303 Held by Federal Reserve credit facility LLCs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 382.5 11

 12 FA313161375 Other nonmarketable securities -1.1 -0.3 -4.0 -0.3 -16.8 -11.8 13.0 0.7 -23.1 12

 13 FA893061105 Net purchases 447.0 1411.2 1176.6 849.1 570.4 2410.8 876.1 2168.3 11598.7 13

 14 FA153061105 Household sector -40.5 617.4 267.3 1202.2 812.1 -180.0 -765.0 -683.6 72.1 14

 15 FA313161400 U.S. savings securities (line 7) -5.4 -4.7 -4.4 -4.7 -4.6 -4.3 -4.1 -5.0 -1.3 15

 16 FA153061185 Other Treasury securities -35.1 622.1 271.8 1206.9 816.7 -175.7 -760.9 -678.5 73.4 16

 17 FA103061103 Nonfinancial corporate business 30.1 -15.6 -8.7 6.9 -33.2 -20.4 11.7 67.7 79.7 17

 18 FA113061003 Nonfinancial noncorporate business 6.1 6.4 1.4 -0.3 -3.5 -0.2 9.7 -5.3 11.7 18

 19 FA213061105 State and local governments -11.0 -39.0 -0.8 -41.2 -193.8 47.3 184.6 -198.1 417.7 19

 20 FA213061120 SLGS (line 8) -17.3 -26.3 11.6 -13.8 -40.1 34.2 65.9 30.0 39.7 20

 21 FA213061103 Other Treasury securities 6.4 -12.7 -12.3 -27.4 -153.7 13.1 118.8 -228.1 377.9 21

 22 FA713061103 Monetary authority -21.7 -243.3 99.1 -198.0 -270.7 6.3 859.0 4077.9 4137.3 22

 23 FA713061113 Treasury bills 0.0 0.0 168.5 0.0 0.0 23.8 650.0 625.5 2.8 23

 24 FA713061125 Other Treasury securities -21.7 -243.3 -69.3 -198.0 -270.7 -17.5 209.0 3452.4 4134.5 24

 25 FA763061100 U.S.-chartered depository institutions -43.2 87.3 125.6 20.9 142.6 265.4 73.5 10.2 816.7 25

 26 FA753061103 Foreign banking offices in U.S. 3.3 29.4 -9.9 1.8 -6.3 1.6 -36.5 -58.7 6.3 26

 27 FA743061103 Banks in U.S.-affiliated areas 1.9 5.3 5.9 3.6 11.4 -2.6 11.2 -13.2 12.2 27

 28 FA473061105 Credit unions 0.6 2.2 5.1 9.1 -1.7 0.3 12.7 -7.7 7.1 28

 29 FA513061105 Property-casualty insurance companies 34.0 7.9 -7.0 -3.8 -11.5 -26.2 13.3 22.2 41.8 29

 30 FA513061115 Treasury bills 26.5 -12.6 -8.8 13.1 -20.0 -30.4 2.0 56.6 81.7 30

 31 FA513061125 Other Treasury securities 7.6 20.5 1.8 -16.9 8.5 4.2 11.3 -34.4 -40.0 31

 32 FA543061105 Life insurance companies -0.8 -28.8 -6.4 -23.0 -18.1 7.4 8.2 45.8 -0.2 32

 33 FA543061115 Treasury bills -0.4 -4.3 0.6 2.3 2.9 -0.4 -2.3 60.5 -7.9 33

 34 FA543061125 Other Treasury securities -0.4 -24.4 -7.0 -25.3 -21.0 7.8 10.6 -14.7 7.7 34

 35 FA573061105 Private pension funds 46.9 26.2 32.9 41.7 -26.5 62.5 54.1 -12.5 3.7 35

 36 FA573061143 Defined benefit plans 34.9 14.3 11.2 23.0 -47.4 36.9 32.3 -57.2 -12.9 36

 37 FA573061133 Defined contribution plans 12.1 12.0 21.7 18.7 20.9 25.6 21.8 44.7 16.5 37

 38 FA343061105 Federal government retirement funds (3) -84.3 309.3 110.4 -851.4 -100.6 1282.1 111.7 190.8 193.6 38

 39 FA343061165 Defined benefit plans 68.5 124.7 111.8 0.4 -115.9 481.2 81.6 126.7 147.4 39

 40 FA343061155 Defined contribution plans -152.8 184.5 -1.4 -851.8 15.3 800.9 30.1 64.1 46.2 40

 41 FA223061143 State and local govt. retirement funds 70.9 52.8 -8.1 32.2 84.1 -187.2 38.4 -120.6 -46.3 41

 42 FA633061105 Money market funds -94.7 170.6 163.0 111.3 -115.2 580.9 75.2 925.0 4327.9 42

 43 FA633061110 Treasury bills 46.6 129.5 31.1 29.7 -171.5 405.1 -139.0 781.2 4223.8 43

 44 FA633061120 Other Treasury securities -141.3 41.1 131.9 81.6 56.2 175.7 214.2 143.8 104.1 44

 45 FA653061105 Mutual funds 187.4 69.7 120.0 48.9 6.9 176.0 248.1 -942.7 441.3 45

 46 FA653061113 Treasury bills 27.5 7.1 -37.3 -130.5 10.0 -28.2 -0.6 20.0 23.7 46

 47 FA653061125 Other Treasury securities 159.9 62.7 157.3 179.4 -3.1 204.2 248.7 -962.7 417.5 47

 48 FA553061103 Closed-end funds 0.1 -0.2 -0.5 0.3 -0.1 -0.8 -1.1 -3.0 0.8 48

 49 FA563061103 Exchange-traded funds 27.4 58.7 44.1 36.9 72.4 38.7 28.6 81.8 29.9 49

 50 FA403061105 Government-sponsored enterprises -1.1 14.4 55.6 40.3 56.8 55.8 69.7 57.5 249.7 50

 51 FA673061103 ABS issuers -8.2 8.1 12.6 15.5 8.9 10.3 15.8 -4.0 -5.8 51

 52 FA663061105 Brokers and dealers 22.3 139.1 -73.1 -57.9 -79.3 -66.0 -89.2 -77.9 4.9 52

 53 FA733061103 Holding companies 13.2 12.8 22.1 -4.3 17.6 62.3 12.9 -35.0 6.6 53

 54 FA503061303 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 382.5 54

 55 FA263061105 Rest of the world 308.2 120.2 225.7 457.6 218.3 297.2 -70.4 -1148.2 407.7 55

 56 FA263061110 Treasury bills 34.3 43.5 -40.4 27.8 -195.7 198.2 -192.0 53.8 1245.2 56

 57 FA263061120 Other Treasury securities 273.9 76.7 266.1 429.9 414.0 99.1 121.6 -1202.0 -837.5 57

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds.

 In the Financial Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as

 opposed to intragovernmental holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.

(3) Comprised primarily of nonmarketable Treasury securities.
Transactions

58 Z.1, September 21, 2020

F.211 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893161705 Net issues 346.9 245.5 317.8 293.5 354.8 348.3 274.7 1507.7 -220.9 1

 2 FA313161705 Budget agencies -0.1 -1.5 -1.7 -3.0 -0.8 -2.2 -1.0 -0.1 -0.7 2

 3 FA403161705 Government-sponsored enterprises 153.1 81.1 204.9 180.6 248.5 252.1 138.4 1388.3 -177.4 3

 4 FA413065005 Agency- and GSE-backed mortgage pools 193.8 165.9 114.7 115.8 107.1 98.4 137.3 119.5 -42.9 4

 5 FA893061705 Net purchases 346.9 245.5 317.8 293.5 354.8 348.3 274.7 1507.7 -220.9 5

 6 FA153061705 Household sector 57.4 193.0 105.4 -6.2 205.1 41.4 181.1 163.9 -1384.9 6

 7 FA103061703 Nonfinancial corporate business 10.0 -5.5 -2.8 2.5 -10.5 -6.3 3.2 25.7 0.4 7

 8 FA313061703 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA213061703 State and local governments 3.1 -15.3 -6.6 -17.5 -108.5 25.4 74.0 -67.8 92.9 9

 10 FA713061705 Monetary authority 10.8 -136.2 -236.6 -184.3 -248.2 -270.8 -243.2 203.7 1909.0 10

 11 FA763061705 U.S.-chartered depository institutions 148.7 66.8 102.7 98.8 161.0 138.2 12.7 466.4 243.1 11

 12 FA753061703 Foreign banking offices in U.S. 24.5 -2.5 8.9 -7.3 12.8 24.3 5.6 17.3 4.6 12

 13 FA743061703 Banks in U.S.-affiliated areas -0.0 -0.1 -0.3 0.2 0.2 -2.5 0.9 -4.3 8.0 13

 14 FA473061705 Credit unions -5.1 -11.8 3.9 7.6 -6.0 4.3 9.7 3.3 172.4 14

 15 FA513061705 Property-casualty insurance companies 5.6 20.2 6.2 8.2 -8.7 7.6 17.9 -7.5 -11.7 15

 16 FA543061705 Life insurance companies 6.7 1.6 -1.3 11.1 0.2 1.7 -18.3 22.0 -40.7 16

 17 FA573061705 Private pension funds 24.9 12.9 16.6 21.3 -14.8 32.1 27.8 -8.3 -46.7 17

 18 FA343061705 Federal government retirement funds 0.6 -0.1 1.1 1.2 1.3 1.5 0.6 -2.9 3.1 18

 19 FA223061743 State and local govt. retirement funds 8.7 12.7 26.0 13.7 23.7 97.1 -30.5 20.3 -72.4 19

 20 FA633061700 Money market funds 1.8 -37.4 110.2 166.2 78.7 43.2 152.6 820.7 -421.0 20

 21 FA653061703 Mutual funds 3.0 5.6 31.0 -105.8 58.7 74.4 96.9 110.4 -474.7 21

 22 FA403061705 Government-sponsored enterprises -19.8 -5.1 5.7 -2.3 11.7 42.4 -29.0 -7.5 -4.8 22

 23 FA673061703 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA643061773 REITs 54.6 18.4 60.8 128.2 89.5 29.1 -3.5 -495.5 -2.4 24

 25 FA663061703 Brokers and dealers -14.5 18.3 28.9 34.9 83.2 16.7 -19.2 58.1 26.8 25

 26 FA733061703 Holding companies 3.8 14.2 1.9 7.6 -3.4 -5.8 9.1 -18.3 -7.5 26

 27 FA263061705 Rest of the world 22.0 95.7 56.1 115.2 28.7 54.2 26.4 208.1 -214.5 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by Ginnie Mae, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are

 considered officially to be part of the total borrowing of the federal government, which is shown in table F.106, line 48.
Transactions

Z.1, September 21, 2020 59

F.212 Municipal Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA383162005 Net issues 14.6 -57.2 19.9 -11.2 -54.2 38.3 106.8 29.3 94.4 1

 2 FA213162005 State and local governments -0.4 -50.8 8.9 -20.9 -57.3 26.0 87.8 25.9 106.9 2

 3 FA213162400 Short-term (1) 4.8 2.9 6.8 5.7 7.8 1.1 12.5 -6.0 8.7 3

 4 FA213162200 Long-term -5.2 -53.7 2.1 -26.6 -65.1 24.9 75.3 31.9 98.2 4

 5 FA163162003 Nonprofit organizations (2) 1.6 -2.3 -3.2 -4.1 -2.6 -1.5 -4.5 -11.5 -9.5 5

 6 FA103162000 Nonfinancial corporate business 13.3 -4.2 14.2 13.7 5.7 13.8 23.5 14.9 -3.0 6

 (industrial revenue bonds)

 7 FA893062005 Net purchases 14.6 -57.2 19.9 -11.2 -54.2 38.3 106.8 29.3 94.4 7

 8 FA153062005 Household sector -37.5 -10.2 -51.4 -57.0 -91.7 -74.7 17.8 32.3 -62.7 8

 9 FA103062003 Nonfinancial corporate business -2.5 1.7 -0.1 -0.3 -0.5 -0.3 0.8 -0.0 0.0 9

 10 FA113062003 Nonfinancial noncorporate business 0.8 0.6 0.1 -0.2 -0.1 0.2 0.4 2.2 0.2 10

 11 FA213062003 State and local governments -0.2 -0.2 -0.4 -1.0 -3.4 0.8 2.2 -2.4 4.2 11

 12 FA763062000 U.S.-chartered depository institutions 21.1 -39.8 -29.5 -38.3 -62.1 -2.2 -15.4 127.7 50.2 12

 13 FA753062003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA743062003 Banks in U.S.-affiliated areas -0.5 -0.1 -0.1 0.1 -0.1 -0.3 0.0 0.1 -0.3 14

 15 FA473062005 Credit unions -0.2 -0.1 0.4 -0.3 -0.5 -1.3 4.0 3.6 3.8 15

 16 FA513062005 Property-casualty insurance companies -9.9 -38.9 -4.7 -3.8 -11.8 -2.7 -0.5 0.4 4.0 16

 17 FA543062005 Life insurance companies 6.1 -2.5 -1.0 0.8 -3.4 -0.5 -0.8 0.6 -0.6 17

 18 FA343062033 Federal government retirement funds -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.0 18

 19 FA223062043 State and local govt. retirement funds 0.7 0.7 -0.9 -3.5 0.0 0.0 0.0 0.0 0.0 19

 20 FA633062000 Money market funds -19.9 8.4 -8.9 -17.4 4.0 -7.6 -14.4 6.0 16.4 20

 21 FA653062003 Mutual funds 40.0 22.1 105.8 117.7 99.1 98.6 107.8 -132.0 63.5 21

 22 FA553062003 Closed-end funds 0.2 2.0 1.7 1.8 -0.8 5.4 0.3 0.5 -0.2 22

 23 FA563062003 Exchange-traded funds 5.3 6.6 10.5 4.6 9.7 11.9 15.7 3.8 15.9 23

 24 FA403062005 Government-sponsored enterprises -1.2 -0.7 -0.6 -0.4 -0.9 -1.0 -0.1 -0.2 -1.3 24

 25 FA663062003 Brokers and dealers 5.1 -5.3 -5.2 -18.9 6.6 7.3 -15.6 -10.0 -21.1 25

 26 FA503062003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.8 26

 27 FA263062003 Rest of the world 7.1 -1.6 4.0 4.6 1.8 4.8 4.7 -3.3 17.4 27

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

(2) Liability of the households and nonprofit organizations sector (table F.101).
Transactions

60 Z.1, September 21, 2020

F.213 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893163005 Net issues 603.5 370.0 480.2 357.7 665.3 625.1 272.7 756.2 2478.7 1

 2 FA103163003 Nonfinancial corporate business 281.6 153.2 247.4 362.3 314.7 378.0 -65.3 684.6 1698.4 2

 3 FA793163005 Domestic financial sectors 29.6 77.8 158.4 211.7 188.9 232.6 0.6 679.2 422.3 3

 4 FA763163005 U.S.-chartered depository institutions -35.0 12.3 -18.7 -23.9 -10.7 -41.2 1.1 46.5 18.7 4

 5 FA673163005 ABS issuers (net) (1) -30.9 -2.3 71.4 73.4 9.3 141.7 61.2 162.5 -49.4 5

 6 FA613163005 Finance companies -51.9 51.6 -42.7 -80.2 -60.0 43.0 -73.6 103.1 25.7 6

 7 FA643163005 REITs 21.6 31.0 69.8 51.6 78.1 74.2 75.3 -40.0 133.9 7

 8 FA663163003 Brokers and dealers 56.5 -1.7 -10.0 -8.5 95.9 -90.1 -37.4 331.7 -308.7 8

 9 FA733163003 Holding companies 92.2 -48.4 44.9 157.1 138.5 -18.7 -97.2 373.3 259.7 9

 10 FA503163005 Other financial business -22.9 35.3 43.7 42.1 -62.2 123.8 71.1 -298.0 342.4 10

 11 FA263163005 Rest of the world (2) 292.3 139.0 74.3 -216.3 161.8 14.5 337.4 -607.6 357.9 11

 12 FA893063005 Net purchases (3) 603.5 370.0 480.2 357.7 665.3 625.1 272.7 756.2 2478.7 12

 13 FA153063005 Household sector -25.6 94.3 64.5 -370.3 596.6 -31.0 62.8 405.0 706.0 13

 14 FA313063763 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA213063003 State and local governments -1.6 5.4 -14.1 -27.9 -56.1 3.2 24.5 -1.6 91.4 15

 16 FA763063005 U.S.-chartered depository institutions -16.1 -37.9 44.1 177.9 -15.6 20.6 -6.5 -133.6 134.5 16

 17 FA763063605 MBS and other ABS -18.8 -5.2 6.3 7.6 6.2 7.1 4.3 23.4 6.9 17

 18 FA763063095 Other 2.7 -32.7 37.8 170.3 -21.8 13.4 -10.7 -157.0 127.6 18

 19 FA753063005 Foreign banking offices in U.S. -0.5 -0.6 -29.1 -50.2 9.4 -13.1 -62.6 145.9 -85.4 19

 20 FA743063005 Banks in U.S.-affiliated areas 0.2 -0.1 7.7 0.0 18.7 12.9 -0.9 13.9 -4.0 20

 21 FA473063005 Credit unions -1.0 0.4 1.1 3.5 -0.6 0.5 1.0 10.6 -1.7 21

 22 FA473063605 MBS and other ABS -1.1 0.2 1.2 3.5 -0.4 0.4 1.2 10.2 -1.5 22

 23 FA473063095 Other 0.1 0.2 -0.0 0.0 -0.2 0.1 -0.1 0.4 -0.1 23

 24 FA513063005 Property-casualty insurance companies 12.2 56.6 34.7 42.7 44.9 54.2 -2.9 66.4 59.4 24

 25 FA513063605 MBS and other ABS 2.5 12.9 8.0 9.8 10.3 12.5 -0.7 15.5 13.9 25

 26 FA513063095 Other 9.7 43.7 26.7 32.9 34.6 41.7 -2.2 50.9 45.5 26

 27 FA543063005 Life insurance companies 73.6 123.7 137.6 154.0 186.6 186.5 23.4 316.2 232.2 27

 28 FA543063675 MBS and other ABS 2.2 23.1 23.4 26.5 29.8 28.6 8.9 42.2 37.6 28

 29 FA543063095 Other 71.4 100.5 114.2 127.5 156.9 157.9 14.5 274.0 194.7 29

 30 FA573063005 Private pension funds 70.0 48.6 39.6 61.2 -80.3 94.9 82.6 58.3 34.7 30

 31 FA343063005 Federal government retirement funds 0.5 0.2 1.3 1.3 1.2 1.6 1.2 -4.5 3.1 31

 32 FA223063045 State and local govt. retirement funds -25.4 -7.5 -112.3 -23.9 -279.6 42.5 -188.3 92.8 -83.1 32

 33 FA633063005 Money market funds 1.9 -1.1 11.0 4.8 12.1 17.6 9.6 -19.0 -4.2 33

 34 FA653063005 Mutual funds 139.4 115.2 64.0 113.3 73.2 4.5 65.0 -42.3 383.1 34

 35 FA553063003 Closed-end funds 0.9 0.5 2.0 3.0 2.5 1.9 0.7 6.1 -1.6 35

 36 FA563063003 Exchange-traded funds 89.3 33.6 93.7 93.9 73.4 95.5 111.9 -42.4 295.1 36

 37 FA403063005 Government-sponsored enterprises -17.0 -6.0 -2.7 -2.0 -2.8 -3.0 -2.9 -4.5 0.8 37

 38 FA403063605 MBS and other ABS -16.6 -5.6 -2.3 -1.6 -2.5 -2.6 -2.5 -4.1 1.1 38

 39 FA403063095 Other -0.5 -0.4 -0.4 -0.4 -0.3 -0.4 -0.4 -0.3 -0.3 39

 40 FA613063003 Finance companies -10.6 -4.5 -0.5 -13.9 -11.0 10.4 12.5 7.4 -11.0 40

 41 FA643063005 REITs 2.1 8.5 1.3 -6.3 1.2 -2.5 12.6 -63.6 -16.3 41

 42 FA663063005 Brokers and dealers -11.1 0.5 -22.0 -31.9 -35.6 36.0 -56.6 34.2 -32.0 42

 43 FA733063003 Holding companies -2.7 4.5 5.0 3.0 12.8 8.3 -4.0 -0.6 11.3 43

 44 FA503063005 Other financial business 3.6 -1.9 0.2 6.1 3.5 3.5 -12.4 23.4 8.5 44

 45 FA263063005 Rest of the world (4) 321.5 -62.2 153.1 219.4 110.9 80.1 201.8 -112.0 757.9 45

 46 FA263063603 MBS and other ABS -10.5 -2.7 -1.9 -7.0 3.9 -12.2 7.9 -32.7 -12.0 46

 47 FA263063095 Other 332.0 -59.6 154.9 226.4 107.0 92.3 193.9 -79.3 769.9 47

(1) Net issuance less net acquisition of corporate bonds held as assets.

(2) Net purchases of foreign issues by U.S. residents.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
Transactions

Z.1, September 21, 2020 61

F.214 Loans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 By instrument

 1 FA894123005 Net change in total loans 1228.1 853.2 1037.7 1696.5 1129.7 477.7 846.9 5090.8 -674.5 1

 2 FA793068005 Depository institution loans n.e.c. 109.8 280.3 142.2 60.1 307.2 123.2 78.5 2592.2 125.4 2

 3 FA893169005 Other loans and advances 338.5 -172.9 115.0 919.7 117.2 -608.3 31.3 1781.9 -1094.7 3

 4 FA893065005 Mortgages 587.5 564.3 598.1 532.6 528.2 764.3 567.2 675.4 570.6 4

 5 FA893065105 One-to-four-family residential 331.8 310.0 302.6 255.7 326.7 358.5 269.3 374.5 332.2 5

 6 FA893065405 Multifamily residential 122.3 121.9 138.0 103.3 97.4 191.1 160.3 78.8 137.8 6

 7 FA893065505 Commercial 123.2 122.9 136.4 152.9 83.1 193.4 116.2 207.4 85.8 7

 8 FA893065603 Farm 10.2 9.5 21.1 20.8 21.0 21.3 21.3 14.7 14.7 8

 9 FA153166000 Consumer credit 192.3 181.5 182.4 184.1 177.2 198.4 169.9 41.2 -275.9 9

 By sector

 10 FA894123005 Net change in liabilities 1228.1 853.2 1037.7 1696.5 1129.7 477.7 846.9 5090.8 -674.5 10

 11 FA384123005 Domestic nonfinancial sectors 1226.0 810.3 1013.8 1790.9 1050.4 313.0 901.1 2936.9 988.3 11

 12 FA154123005 Household sector 548.8 493.4 510.1 341.4 628.1 520.7 550.2 615.6 84.3 12

 13 FA104123005 Nonfinancial corporate business 60.8 133.9 196.3 304.1 159.5 247.9 73.8 1702.1 -14.7 13

 14 FA114123005 Nonfinancial noncorporate business 464.3 333.6 290.5 283.2 256.0 317.8 305.0 619.3 980.8 14

 15 FA314123005 Federal government 151.7 -151.7 15.8 861.3 5.7 -774.6 -29.0 -0.6 -62.8 15

 16 FA213169203 State and local governments 0.5 1.1 1.0 1.0 1.1 1.0 1.1 0.4 0.7 16

 17 FA794123005 Domestic financial sectors -13.5 -10.7 -68.1 -130.4 -80.1 42.2 -103.9 1802.1 -1514.1 17

 18 FA763169305 U.S.-chartered depository institutions 20.1 -9.2 -92.3 -58.1 -93.6 -124.1 -93.6 667.1 -1094.8 18

 19 FA473169333 Credit unions 8.2 2.9 -5.5 -28.1 2.7 11.1 -7.7 42.4 -49.2 19

 20 FA513169333 Property-casualty insurance companies -0.0 0.5 0.2 1.9 -1.9 0.1 0.7 9.8 1.2 20

 21 FA543169373 Life insurance companies 6.5 6.4 7.5 4.1 0.1 15.7 10.2 76.0 2.2 21

 22 FA403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA614123005 Finance companies -11.3 -0.4 5.9 12.1 -4.7 13.9 2.4 27.7 21.2 23

 24 FA644123005 REITs 3.9 -12.9 -7.3 -18.9 -19.4 -7.5 16.6 147.5 -134.5 24

 25 FA664123005 Brokers and dealers -40.7 2.1 23.4 -43.6 36.7 132.9 -32.5 831.6 -321.5 25

 26 FA504123005 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 61.5 26

 27 FA264123005 Rest of the world 15.5 53.6 91.9 36.0 159.4 122.5 49.7 351.8 -148.7 27

 28 FA894123005 Net change in assets 1228.1 853.2 1037.7 1696.5 1129.7 477.7 846.9 5090.8 -674.5 28

 29 FA384023005 Domestic nonfinancial sectors 40.1 75.7 110.1 64.8 47.4 240.0 88.2 617.8 437.1 29

 30 FA154023005 Household sector -70.0 -20.8 8.0 -49.0 8.5 117.8 -45.3 568.9 -105.9 30

 31 FA104023005 Nonfinancial corporate business 2.9 2.2 0.1 -3.1 -10.6 -2.8 17.0 9.3 -14.1 31

 32 FA114023005 Nonfinancial noncorporate business 8.4 3.8 3.2 3.1 2.8 3.7 3.3 14.5 6.2 32

 33 FA314023005 Federal government 95.8 99.1 93.6 109.3 84.5 99.7 80.7 75.8 537.3 33

 34 FA213065005 State and local governments 2.9 -8.4 5.2 4.4 -37.7 21.7 32.5 -50.7 13.6 34

 35 FA794023005 Domestic financial sectors 1088.5 754.0 830.1 1474.9 1007.1 200.4 638.2 4305.2 -1133.2 35

 36 FA713068005 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 234.9 -110.2 36

 37 FA764023005 U.S.-chartered depository institutions 349.0 438.1 359.5 209.9 521.9 373.0 333.4 1881.1 170.9 37

 38 FA754023005 Foreign banking offices in U.S. 5.8 40.1 28.4 48.7 58.0 1.6 5.4 636.2 -250.6 38

 39 FA744023003 Banks in U.S.-affiliated areas -0.2 -1.2 3.5 2.9 5.6 -4.1 9.6 2.6 8.5 39

 40 FA474023000 Credit unions 89.0 86.9 68.5 58.8 64.7 76.2 74.5 81.2 48.0 40

 41 FA513065505 Property-casualty insurance companies 2.4 2.7 2.4 1.4 0.4 -0.3 8.0 3.2 0.5 41

 42 FA544023005 Life insurance companies 45.8 61.5 47.5 58.6 28.6 66.5 36.4 65.5 1.3 42

 43 FA573065005 Private pension funds 4.4 -2.8 1.3 1.2 1.1 1.6 1.4 2.5 0.9 43

 44 FA313169003 Federal government retirement funds 151.7 -151.7 15.8 861.3 5.7 -774.6 -29.0 -0.6 -62.8 44

 45 FA223065043 State and local govt. retirement funds -7.6 5.4 -0.5 2.1 -1.0 -1.2 -1.9 4.0 -0.1 45

 46 FA653069803 Mutual funds 16.2 -10.5 -19.2 -31.4 -22.9 -13.0 -9.4 -14.2 -12.6 46

 47 FA404023005 Government-sponsored enterprises 207.0 149.3 96.7 45.3 90.5 156.2 95.0 1056.3 -552.6 47

 48 FA413065005 Agency- and GSE-backed mortgage pools 193.8 165.9 114.7 115.8 107.1 98.4 137.3 119.5 -42.9 48

 49 FA674023005 ABS issuers -44.3 -0.5 48.2 43.1 -6.0 132.9 22.9 148.9 -51.8 49

 50 FA614023005 Finance companies -22.2 -6.0 -4.6 31.8 0.8 -17.6 -33.6 16.0 -126.2 50

 51 FA643065005 REITs 7.1 20.2 18.5 39.3 45.0 36.9 -47.1 -92.5 -10.9 51

 52 FA663069005 Brokers and dealers 69.7 -23.8 35.1 -27.3 81.2 12.4 74.0 85.2 -87.3 52

 53 FA733069005 Holding companies 17.9 -18.8 13.4 11.9 22.5 51.9 -32.8 44.3 -38.7 53

 54 FA503069805 Other financial business 3.0 -0.7 0.8 1.6 3.8 3.5 -5.9 31.0 -18.0 54

 55 FA263069500 Rest of the world 99.5 23.5 97.5 156.9 75.2 37.3 120.5 167.9 21.6 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
Transactions

62 Z.1, September 21, 2020

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA793068005 Net change in liabilities 109.8 280.3 142.2 60.1 307.2 123.2 78.5 2592.2 125.4 1

 2 FA153168005 Household sector 7.9 37.8 7.8 -57.3 57.4 -19.3 50.4 155.6 -19.2 2

 3 FA103168005 Nonfinancial corporate business -47.7 70.0 20.7 43.0 48.7 35.4 -44.3 1305.5 -9.2 3

 4 FA113168005 Nonfinancial noncorporate business 128.9 103.7 28.9 80.0 42.9 -29.7 22.4 357.3 546.0 4

 5 FA793168005 Domestic financial sectors 8.0 9.4 0.1 -9.0 -7.7 14.6 2.5 443.0 -276.3 5

 6 FA613168005 Finance companies -11.3 2.3 5.6 12.1 -4.7 12.8 2.0 27.9 22.6 6

 7 FA643168005 REITs 5.1 3.3 -8.9 -11.2 -12.6 -9.3 -2.5 159.3 -114.5 7

 8 FA663168005 Brokers and dealers 14.1 3.8 3.4 -10.0 9.5 11.0 2.9 255.8 -245.8 8

 9 FA713068505 Other financial business (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 61.5 9

 10 FA263168005 Rest of the world 12.7 59.4 84.8 3.5 166.0 122.3 47.6 330.8 -115.9 10

 11 FA263168465 Foreign official institutions -3.1 0.1 -0.9 -1.8 -0.6 -2.7 1.5 -1.3 -1.7 11

 12 FA263168485 Foreign nonfinancial corporations -29.9 2.7 -6.7 3.0 -5.2 -22.9 -1.8 132.7 -23.5 12

 13 FA263168495 Foreign nondepository financial institutions 45.7 56.6 92.4 2.2 171.8 147.9 47.8 199.5 -90.7 13

 14 FA793068005 Net change in assets 109.8 280.3 142.2 60.1 307.2 123.2 78.5 2592.2 125.4 14

 15 FA713068005 Monetary authority (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 234.9 -110.2 15

 16 FA763068005 U.S.-chartered depository institutions 104.5 253.4 98.6 8.4 218.7 117.1 50.3 1735.1 463.9 16

 17 FA753068005 Foreign banking offices in U.S. -3.1 32.1 24.9 47.7 55.9 -8.5 4.6 627.5 -245.3 17

 18 FA743068005 Banks in U.S.-affiliated areas -0.4 0.5 5.0 4.5 6.7 -1.8 10.7 5.3 6.4 18

 19 FA473068005 Credit unions 8.8 -5.7 13.7 -0.6 25.8 16.5 12.9 -10.6 10.6 19

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to Federal Reserve funding, credit, and liquidity facility special purpose vehicles.

(3) Loans from Federal Reserve banks to the household, broker and dealer, finance companies, and other financial business sectors.
Transactions

Z.1, September 21, 2020 63

F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893169005 Net change in total other loans and advances 338.5 -172.9 115.0 919.7 117.2 -608.3 31.3 1781.9 -1094.7 1

 2 FA313069205 U.S. government loans -0.7 5.1 10.0 18.6 6.0 0.7 14.6 -14.0 454.9 2

 3 FA153169203 Liab.: Household sector 1.0 5.9 4.5 4.9 5.2 3.6 4.2 4.2 128.4 3

 4 FA103169205 Nonfinancial corporate business -1.0 -0.0 4.0 7.8 2.9 -0.7 6.0 -20.0 114.9 4

 5 FA113169205 Nonfinancial noncorporate business -0.3 1.7 2.6 3.2 -0.8 -0.7 8.5 4.9 214.2 5

 6 FA213169203 State and local governments 0.5 1.1 1.0 1.0 1.1 1.0 1.1 0.4 0.7 6

 7 FA403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA313069223 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA503169205 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA263169203 Rest of the world -0.8 -3.7 -2.1 1.7 -2.3 -2.6 -5.1 -3.5 -3.3 10

 11 FA313169003 Federal government retirement funds’ loans 151.7 -151.7 15.8 861.3 5.7 -774.6 -29.0 -0.6 -62.8 11

 12 FA313169003 Liab.: Federal government 151.7 -151.7 15.8 861.3 5.7 -774.6 -29.0 -0.6 -62.8 12

 13 FA263069500 Foreign loans to U.S. corporate business 99.5 23.5 97.5 156.9 75.2 37.3 120.5 167.9 21.6 13

 14 FA263069500 Liab.: Nonfinancial corporate business 99.5 23.5 97.5 156.9 75.2 37.3 120.5 167.9 21.6 14

 Customers’ liability on acceptances outstanding

 15 FA763069703 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA753069703 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA103169705 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA263169705 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FA733069005 Holding company loans 17.9 -18.8 13.4 11.9 22.5 51.9 -32.8 44.3 -38.7 19

 20 FA733069013 Liab.: Nonfinancial corporate business 14.2 -16.7 4.2 -19.0 26.7 49.1 -40.0 19.8 -9.3 20

 21 FA733069023 Rest of the world 3.6 -2.1 9.2 30.9 -4.2 2.8 7.3 24.6 -29.4 21

 22 FA153169405 Policy loans (Household liability) 1.9 0.1 -2.9 -3.9 -2.9 1.5 -6.1 4.3 -3.0 22

 23 FA313069403 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 23

 24 FA543069405 Life insurance companies 2.0 0.1 -2.8 -3.8 -2.9 1.5 -6.1 4.3 -3.0 24

 25 FA403069330 Federal Home Loan Banks advances (1) 27.8 -2.6 -90.6 -80.1 -96.4 -96.5 -89.4 779.6 -1153.8 25

 26 FA763169335 Liab.: U.S.-chartered depository institutions 20.1 -9.2 -92.3 -58.1 -93.6 -124.1 -93.6 667.1 -1094.8 26

 27 FA473169333 Credit unions 8.2 2.9 -5.5 -28.1 2.7 11.1 -7.7 42.4 -49.2 27

 28 FA513169333 Property-casualty insurance companies -0.0 0.5 0.2 1.9 -1.9 0.1 0.7 9.8 1.2 28

 29 FA543169373 Life insurance companies 6.5 6.4 7.5 4.1 0.1 15.7 10.2 76.0 2.2 29

 30 FA613169333 Finance companies -0.1 -2.7 0.4 -0.0 -0.0 1.1 0.4 -0.2 -1.4 30

 31 FA643169373 Real estate investment trusts -6.8 -0.4 -0.9 0.0 -3.7 -0.5 0.6 -15.6 -11.7 31

 32 FA403069395 Govt.-sponsored enterprises loans (2) 4.7 6.8 7.4 -7.3 17.1 2.5 17.2 5.3 13.0 32

 33 FA153169305 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 FA183169305 Nonfinancial corporate business (FCS) 0.7 1.1 1.1 0.3 2.8 -1.7 2.9 1.3 -0.3 34

 35 FA113169305 Nonfinancial noncorporate business (FCS) 4.0 5.7 6.3 -7.6 14.3 4.2 14.3 4.0 13.3 35

 36 FA763169383 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FA673069505 Securitized loans held by ABS issuers 0.1 0.1 -0.4 0.4 0.0 -0.1 -2.1 0.0 0.0 37

 38 FA673069505 Liab.: Nonfinancial corporate business 0.1 0.1 -0.4 0.4 0.0 -0.1 -2.1 0.0 0.0 38

 39 FA613069500 Finance company loans to business -0.8 9.8 -10.4 17.6 -3.1 -22.1 -34.0 51.5 -130.3 39

 40 FA103169535 Liab.: Nonfinancial corporate business -0.7 8.9 -9.3 15.9 -2.7 -19.9 -30.6 46.4 -117.3 40

 41 FA113169535 Nonfinancial noncorporate business -0.1 1.0 -1.0 1.8 -0.3 -2.2 -3.4 5.2 -13.0 41

 42 FA663067003 Margin accounts at brokers and dealers 56.3 -31.0 23.3 -39.8 72.7 -6.3 66.6 48.3 -73.2 42

 43 FA663067003 Liab.: Household sector 56.3 -31.0 23.3 -39.8 72.7 -6.3 66.6 48.3 -73.2 43

 44 FA153067005 Cash accounts at brokers and dealers -54.9 -1.7 20.0 -33.6 27.2 121.9 -35.4 575.8 -75.7 44

 45 FA153067005 Asset: Household sector -54.9 -1.7 20.0 -33.6 27.2 121.9 -35.4 575.8 -75.7 45

 46 FA103169803 Loans to nonfinancial corporate business (3) 34.8 -12.5 31.8 17.7 -6.9 75.4 41.2 119.5 -47.6 46

 47 FA153069803 Asset: Household sector 1.2 -2.3 2.2 -0.6 -4.1 10.3 3.4 9.4 -13.4 47

 48 FA543069873 Life insurance companies 2.7 -0.1 -0.7 2.6 -4.1 6.0 -7.4 18.2 -7.6 48

 49 FA653069803 Mutual funds 16.2 -10.5 -19.2 -31.4 -22.9 -13.0 -9.4 -14.2 -12.6 49

 50 FA673069803 ABS issuers -1.6 -6.1 37.0 33.0 11.9 49.9 53.1 38.2 18.0 50

 51 FA663069803 Brokers and dealers 13.4 7.2 11.8 12.5 8.5 18.7 7.4 36.9 -14.1 51

 52 FA503069805 Other financial business 3.0 -0.7 0.8 1.6 3.8 3.5 -5.9 31.0 -18.0 52

 53 FA503069003 Other financial business loans (TALF II) (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 53

 54 FA503069003 Liab.: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 54

(1) The Federal Home Loan Banks are included in the government-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 25.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.

(4) 2020 Term Asset-Backed Securities Loan Facility (TALF II) loans to domestic hedge funds and private equity funds.
Transactions

64 Z.1, September 21, 2020

F.217 Total Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893065005 Net change in mortgages 587.5 564.3 598.1 532.6 528.2 764.3 567.2 675.4 570.6 1

 2 FA893065105 One-to-four-family residential 331.8 310.0 302.6 255.7 326.7 358.5 269.3 374.5 332.2 2

 3 FA893065405 Multifamily residential 122.3 121.9 138.0 103.3 97.4 191.1 160.3 78.8 137.8 3

 4 FA893065505 Commercial 123.2 122.9 136.4 152.9 83.1 193.4 116.2 207.4 85.8 4

 5 FA893065603 Farm 10.2 9.5 21.1 20.8 21.0 21.3 21.3 14.7 14.7 5

 6 FA893065005 Net borrowing 587.5 564.3 598.1 532.6 528.2 764.3 567.2 675.4 570.6 6

 7 FA153165005 Household sector 289.5 299.0 295.0 253.3 318.5 342.9 265.2 362.0 326.1 7

 8 FA143165005 Nonfinancial business 292.5 281.2 300.7 287.1 212.9 419.3 283.5 309.7 252.8 8

 9 FA103165005 Corporate -39.2 59.7 46.9 81.2 12.9 73.0 20.3 61.7 32.5 9

 10 FA113165005 Noncorporate 331.7 221.5 253.8 205.9 200.0 346.2 263.2 248.0 220.3 10

 11 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA123165005 REITs 5.6 -15.8 2.4 -7.7 -3.2 2.2 18.5 3.7 -8.3 12

 13 FA893065005 Net change in assets 587.5 564.3 598.1 532.6 528.2 764.3 567.2 675.4 570.6 13

 14 FA153065005 Household sector -10.1 -12.9 -10.6 -10.8 -10.8 -10.8 -10.2 -11.9 -13.4 14

 15 FA103065003 Nonfinancial corporate business 2.4 2.0 0.1 1.1 1.1 1.1 -2.7 15.7 1.1 15

 16 FA113065005 Nonfinancial noncorporate business 8.4 3.8 3.2 3.1 2.8 3.7 3.3 14.5 6.2 16

 17 FA313065005 Federal government 0.2 3.4 0.6 3.0 -13.0 11.2 1.3 6.1 5.6 17

 18 FA313065015 Ginnie Mae -1.5 -0.4 -0.3 -0.3 -0.3 -0.3 -0.3 -0.2 -0.2 18

 19 FA313065075 Farmers Home Administration (FmHA) (2) 0.9 3.2 0.1 2.3 -13.6 10.7 0.9 6.3 5.4 19

 20 FA313065035 Federal Housing Administration (FHA) 0.7 0.6 0.9 1.0 0.8 0.9 0.8 0.0 0.4 20

 21 FA313065065 Federal Deposit Insurance Corporation 0.1 -0.1 -0.0 -0.0 0.0 -0.1 -0.1 0.0 -0.1 21

 22 FA313065095 Other (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA213065005 State and local governments 2.9 -8.4 5.2 4.4 -37.7 21.7 32.5 -50.7 13.6 23

 24 FA703065005 Private depository institutions 216.0 170.3 215.6 152.6 245.2 204.2 260.5 253.9 88.7 24

 25 FA763065005 U.S.-chartered depository institutions 164.7 122.2 172.0 122.3 203.1 157.9 204.5 177.1 30.2 25

 26 FA753065005 Foreign banking offices in U.S. 9.0 8.1 3.5 0.9 2.1 10.1 0.9 8.8 -5.3 26

 27 FA743065003 Banks in U.S.-affiliated areas 0.3 -1.7 -1.5 -1.6 -1.1 -2.2 -1.1 -2.7 2.1 27

 28 FA473065100 Credit unions 42.1 41.8 41.7 30.9 41.0 38.4 56.2 70.8 61.6 28

 29 FA513065505 Property-casualty insurance companies 2.4 2.7 2.4 1.4 0.4 -0.3 8.0 3.2 0.5 29

 30 FA543065005 Life insurance companies 41.2 61.4 51.1 59.8 35.7 59.0 49.8 43.0 11.9 30

 31 FA573065005 Private pension funds 4.4 -2.8 1.3 1.2 1.1 1.6 1.4 2.5 0.9 31

 32 FA223065043 State and local govt. retirement funds -7.6 5.4 -0.5 2.1 -1.0 -1.2 -1.9 4.0 -0.1 32

 33 FA403065005 Government-sponsored enterprises 174.4 145.1 180.0 132.7 169.7 250.1 167.2 271.4 588.2 33

 34 FA403065015 Fannie Mae 94.9 70.3 77.5 47.5 69.5 118.3 74.6 133.9 372.5 34

 35 FA403065025 Freddie Mac 68.5 59.1 85.1 75.6 83.6 113.6 67.7 117.7 203.9 35

 36 FA403065045 Farm Credit System 5.1 6.9 6.0 -1.2 5.8 7.3 12.1 6.8 15.8 36

 37 FA403065035 FHLB 5.4 8.7 9.9 8.9 9.7 10.0 11.2 11.4 -6.7 37

 38 FA403065653 Farmer Mac 0.5 0.1 1.4 1.9 1.1 1.0 1.6 1.6 2.7 38

 39 FA413065005 Agency- and GSE-backed mortgage pools 193.8 165.9 114.7 115.8 107.1 98.4 137.3 119.5 -42.9 39

 40 FA413065015 Ginnie Mae 146.6 128.8 75.3 87.4 77.0 49.0 87.9 107.2 -48.5 40

 41 FA413065025 Freddie Mac 49.9 40.9 39.9 28.8 30.3 49.7 51.0 12.7 5.9 41

 42 FA413065045 Fannie Mae -1.8 -3.6 -0.2 -0.3 -0.2 -0.2 -0.2 -0.2 -0.2 42

 43 FA413065653 Farmer Mac -1.0 -0.2 -0.4 -0.0 -0.0 -0.0 -1.3 -0.2 -0.1 43

 44 FA413065035 Farmers Home Administration (FmHA) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 FA673065005 ABS issuers -33.6 17.4 14.1 13.0 -14.0 87.7 -30.4 112.9 -68.1 45

 46 FA613065000 Finance companies -14.4 -8.9 2.5 14.0 -3.3 1.2 -1.9 -16.2 -10.9 46

 47 FA643065005 REITs 7.1 20.2 18.5 39.3 45.0 36.9 -47.1 -92.5 -10.9 47

(1) Sum of one-to-four-family residential mortgages (table L.218), multifamily residential mortgages (table L.219), commercial mortgages (table L.220), and farm mortgages (table L.221).

(2) FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting changes by

 the Farmers Home Administration.

(3) Other includes Department of Veterans Affairs, Federal Financing Bank, Public Housing Administration, and Resolution Trust Corporation.
Transactions

Z.1, September 21, 2020 65

F.218 One-to-four-family Residential Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893065105 Net borrowing 331.8 310.0 302.6 255.7 326.7 358.5 269.3 374.5 332.2 1

 2 FA153165105 Household sector 283.0 289.3 285.6 243.9 309.2 333.5 255.8 353.0 317.1 2

 3 FA103165105 Nonfinancial corporate business 0.9 1.0 0.2 1.0 -0.4 0.5 -0.4 1.3 -0.9 3

 4 FA113165105 Nonfinancial noncorporate business 47.8 19.8 16.8 10.8 17.9 24.5 13.9 20.2 16.0 4

 5 FA893065105 Net change in assets 331.8 310.0 302.6 255.7 326.7 358.5 269.3 374.5 332.2 5

 6 FA153065103 Household sector -10.6 -10.6 -10.6 -10.6 -10.6 -10.6 -10.6 -10.6 -10.6 6

 7 FA103065105 Nonfinancial corporate business 1.4 1.2 0.1 0.6 0.6 0.6 -1.6 9.4 0.7 7

 8 FA113065103 Nonfinancial noncorporate business 3.0 1.4 1.2 1.1 1.0 1.3 1.2 5.3 2.3 8

 9 FA313065105 Federal government -0.8 0.1 0.0 0.2 -1.1 0.8 0.1 1.0 0.2 9

 10 FA213065103 State and local governments 1.7 -4.2 2.8 2.4 -19.3 11.3 16.8 -26.1 7.0 10

 11 FA763065105 U.S.-chartered depository institutions 50.7 32.1 51.5 29.6 77.1 34.4 65.0 33.7 -88.6 11

 12 FA753065103 Foreign banking offices in U.S. -0.1 0.5 -0.1 -0.2 0.0 0.1 -0.4 -0.3 0.4 12

 13 FA743065103 Banks in U.S.-affiliated areas 0.3 -1.2 -0.9 -1.2 -0.7 -1.0 -0.8 -1.8 1.5 13

 14 FA473065100 Credit unions 42.1 41.8 41.7 30.9 41.0 38.4 56.2 70.8 61.6 14

 15 FA543065105 Life insurance companies 2.3 6.3 6.9 6.7 5.1 7.4 8.3 3.9 0.6 15

 16 FA573065103 Private pension funds -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 FA223065143 State and local govt. retirement funds -2.7 2.0 -0.2 0.8 -0.4 -0.4 -0.7 1.4 -0.0 17

 18 FA403065105 Government-sponsored enterprises 138.7 113.4 137.7 100.7 122.3 186.5 141.4 244.8 497.4 18

 19 FA413065105 Agency- and GSE-backed mortgage pools 141.4 123.1 76.9 87.2 80.2 51.6 88.8 108.2 -53.2 19

 20 FA673065105 ABS issuers -28.9 4.7 -5.9 6.1 12.2 20.5 -62.3 36.5 -52.4 20

 21 FA613065105 Finance companies -11.4 -8.1 -1.7 -1.0 -4.4 0.2 -1.4 -15.6 -14.9 21

 22 FA643065105 REITs 4.8 7.7 3.3 2.5 23.6 17.5 -30.4 -86.0 -19.6 22

 Memo:

 23 FV893065153 Charge-offs (2) 27.4 19.7 15.6 4.4 3.9 3.6 3.7 2.7 2.2 23

 24 FA893065125 Home equity loans included above (3) -28.9 -32.6 -30.5 -36.9 -18.6 -35.1 -31.6 -22.7 -83.8 24

 25 FA763065125 U.S.-chartered depository institutions -32.7 -36.3 -35.2 -42.6 -28.3 -35.2 -34.8 -18.2 -61.2 25

 26 FA753065203 Foreign banking offices in U.S. -0.1 -0.0 0.1 -0.0 0.0 -0.1 0.5 -0.2 0.1 26

 27 FA473065125 Credit unions 5.9 5.3 3.5 1.5 11.5 -1.4 2.3 -1.3 -17.7 27

 28 FA673065123 ABS issuers 0.3 -0.0 1.5 2.8 -0.3 1.7 1.6 -1.5 -1.4 28

 29 FA613065123 Finance companies -2.3 -1.6 -0.3 1.4 -1.5 -0.0 -1.2 -1.4 -3.6 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from transactions (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893065405 Net borrowing 122.3 121.9 138.0 103.3 97.4 191.1 160.3 78.8 137.8 1

 2 FA103165405 Nonfinancial corporate business 6.4 6.3 7.0 5.4 4.9 9.7 7.8 3.8 6.8 2

 3 FA113165405 Nonfinancial noncorporate business 120.7 120.0 132.2 102.6 93.7 183.7 148.9 72.5 129.6 3

 4 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA123165403 REITs -4.7 -4.4 -1.1 -4.7 -1.2 -2.2 3.6 2.5 1.4 5

 6 FA893065405 Net change in assets 122.3 121.9 138.0 103.3 97.4 191.1 160.3 78.8 137.8 6

 7 FA153065403 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA103065403 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.2 0.0 8

 9 FA113065403 Nonfinancial noncorporate business 2.9 1.3 1.1 1.1 0.9 1.3 1.1 5.0 2.1 9

 10 FA313065405 Federal government -0.4 -0.3 -0.3 -0.2 -14.9 13.7 0.0 -0.9 -0.2 10

 11 FA213065403 State and local governments 1.0 -3.5 2.0 1.7 -15.2 8.6 12.9 -20.3 5.4 11

 12 FA763065403 U.S.-chartered depository institutions 24.3 27.6 29.7 23.2 38.0 29.7 27.9 44.4 28.7 12

 13 FA753065403 Foreign banking offices in U.S. 1.4 3.5 2.0 1.7 2.2 0.8 3.2 4.8 1.1 13

 14 FA543065405 Life insurance companies 15.7 21.9 25.2 24.6 21.3 28.0 27.1 10.1 10.1 14

 15 FA573065403 Private pension funds -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 15

 16 FA223065443 State and local govt. retirement funds -2.3 1.6 -0.2 0.6 -0.3 -0.4 -0.6 1.2 -0.0 16

 17 FA403065405 Government-sponsored enterprises 31.7 25.8 31.2 20.5 36.7 52.9 14.5 18.3 81.3 17

 18 FA413065405 Agency- and GSE-backed mortgage pools 53.4 43.0 38.1 28.7 26.9 46.9 49.9 11.5 10.5 18

 19 FA673065405 ABS issuers -4.5 0.5 2.6 -11.0 0.9 6.3 14.2 24.4 1.1 19

 20 FA613065403 Finance companies -2.4 -0.7 -0.2 -0.2 -0.1 -0.2 -0.1 -0.2 -0.2 20

 21 FA643065405 REITs 1.6 1.4 7.1 12.8 1.3 3.8 10.5 -19.3 -1.7 21
Transactions

66 Z.1, September 21, 2020

F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893065505 Net borrowing 123.2 122.9 136.4 152.9 83.1 193.4 116.2 207.4 85.8 1

 2 FA163165505 Nonprofit organizations (1) 6.4 9.7 9.4 9.4 9.4 9.4 9.4 9.0 9.0 2

 3 FA103165505 Nonfinancial corporate business -49.3 49.7 34.0 69.5 3.0 56.9 6.5 51.9 21.9 3

 4 FA113165505 Nonfinancial noncorporate business 155.8 74.9 89.5 77.0 72.7 122.7 85.5 145.3 64.7 4

 5 FA123165503 REITs 10.3 -11.4 3.6 -3.0 -2.0 4.4 14.9 1.2 -9.8 5

 6 FA893065505 Net change in assets 123.2 122.9 136.4 152.9 83.1 193.4 116.2 207.4 85.8 6

 7 FA153065505 Household sector -0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.1 0.0 7

 8 FA103065503 Nonfinancial corporate business 0.9 0.8 0.0 0.4 0.4 0.4 -1.0 6.1 0.4 8

 9 FA113065503 Nonfinancial noncorporate business 2.3 1.0 0.9 0.9 0.8 1.0 0.9 4.0 1.7 9

 10 FA313065505 Federal government 0.7 2.8 -0.1 2.6 1.8 -4.6 -0.1 4.8 4.0 10

 11 FA213065503 State and local governments 0.2 -0.7 0.4 0.3 -3.0 1.7 2.6 -4.1 1.1 11

 12 FA763065503 U.S.-chartered depository institutions 85.7 58.1 82.8 61.7 80.1 85.7 103.5 93.4 84.6 12

 13 FA753065503 Foreign banking offices in U.S. 7.8 3.9 1.7 -0.5 -0.2 9.2 -1.9 4.2 -6.7 13

 14 FA743065505 Banks in U.S.-affiliated areas -0.0 -0.5 -0.6 -0.4 -0.4 -1.3 -0.2 -0.9 0.6 14

 15 FA513065505 Property-casualty insurance companies 2.4 2.7 2.4 1.4 0.4 -0.3 8.0 3.2 0.5 15

 16 FA543065505 Life insurance companies 21.3 32.3 17.6 27.2 7.9 22.2 13.1 28.0 0.2 16

 17 FA573065505 Private pension funds 4.8 -2.4 1.7 1.6 1.5 2.0 1.8 2.9 1.3 17

 18 FA223065545 State and local govt. retirement funds -2.6 1.8 -0.2 0.7 -0.4 -0.4 -0.7 1.3 -0.0 18

 19 FA413065505 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA673065505 ABS issuers -0.2 12.2 17.3 17.8 -27.1 60.9 17.7 52.1 -16.7 20

 21 FA613065503 Finance companies -0.6 -0.2 4.3 15.1 1.2 1.2 -0.4 -0.4 4.2 21

 22 FA643065505 REITs 0.7 11.1 8.1 24.0 20.1 15.6 -27.2 12.8 10.4 22

(1) Liability of the households and nonprofit organizations sector (table F.101).

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893065603 Net borrowing 10.2 9.5 21.1 20.8 21.0 21.3 21.3 14.7 14.7 1

 2 FA183165605 Nonfinancial corporate business 2.8 2.7 5.8 5.3 5.4 6.0 6.4 4.7 4.7 2

 3 FA233165605 Nonfinancial noncorporate business 7.4 6.8 15.3 15.6 15.6 15.3 14.9 10.0 10.0 3

 4 FA893065603 Net change in assets 10.2 9.5 21.1 20.8 21.0 21.3 21.3 14.7 14.7 4

 5 FA153065605 Household sector 0.6 -2.4 -0.1 -0.2 -0.2 -0.3 0.4 -1.3 -2.8 5

 6 FA113065603 Nonfinancial noncorporate business 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.1 6

 7 FA313065605 Federal government 0.6 0.8 1.0 0.3 1.2 1.3 1.3 1.2 1.6 7

 8 FA213065603 State and local governments 0.0 -0.0 0.0 0.0 -0.2 0.1 0.2 -0.3 0.1 8

 9 FA763065633 U.S.-chartered depository institutions 4.0 4.4 8.0 7.9 7.9 8.0 8.0 5.6 5.6 9

 10 FA753065603 Foreign banking offices in U.S. -0.1 0.1 0.0 -0.0 0.1 0.0 0.0 0.1 -0.1 10

 11 FA543065633 Life insurance companies 1.8 0.9 1.4 1.3 1.4 1.4 1.4 1.0 1.0 11

 12 FA223065643 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA403065605 Government-sponsored enterprises 4.0 5.9 11.1 11.5 10.8 10.7 11.4 8.4 9.5 13

 14 FA413065605 Agency- and GSE-backed mortgage pools -1.0 -0.2 -0.4 -0.0 -0.0 -0.0 -1.3 -0.2 -0.1 14

(1) Excludes mortgages on farm houses.
Transactions

Z.1, September 21, 2020 67

F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA153166000 Net change in liabilities (Households) 192.3 181.5 182.4 184.1 177.2 198.4 169.9 41.2 -275.9 1

 2 FA153166000 Net change in assets 192.3 181.5 182.4 184.1 177.2 198.4 169.9 41.2 -275.9 2

 3 FA163066223 Nonprofit organizations (1) -6.2 -3.9 -3.6 -4.0 -3.8 -3.6 -3.1 -4.5 -3.4 3

 4 FA103066005 Nonfinancial corporate business 0.5 0.2 0.0 -4.2 -11.6 -3.9 19.7 -6.4 -15.2 4

 5 FA113066003 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA313066220 Federal government (2) 96.3 90.7 83.0 87.8 91.5 87.9 64.8 83.7 76.9 6

 7 FA763066000 U.S.-chartered depository institutions 79.8 62.5 89.0 79.2 100.0 98.1 78.6 -31.0 -323.2 7

 8 FA473066000 Credit unions 38.1 50.8 13.2 28.4 -2.1 21.2 5.4 21.0 -24.3 8

 9 FA403066005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA673066000 ABS issuers -9.1 -11.9 -2.4 -3.3 -3.9 -4.6 2.3 -2.2 -1.7 10

 11 FA613066005 Finance companies -7.1 -6.9 3.2 0.2 7.2 3.3 2.2 -19.3 15.0 11

 Memo:

 12 FA153166100 Credit card loans (3) 57.7 36.8 39.6 26.1 49.0 46.3 37.1 -83.4 -332.4 12

 13 FA153166400 Auto loans 39.5 34.2 44.3 53.1 33.3 52.4 38.3 25.2 29.4 13

 14 FA153166220 Student loans (4) 84.5 83.1 73.2 65.9 82.9 85.8 58.0 44.0 67.8 14

 15 FA153166205 Other consumer credit (5) 10.5 27.5 25.4 39.1 12.0 14.0 36.5 55.4 -40.7 15

(1) Student loans originated under the Federal Family Education Loan Program. Assets of the households and nonprofit organizations sector (table F.101).

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
Transactions

68 Z.1, September 21, 2020

F.223 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893064105 Net issues 233.3 -178.5 -434.9 -694.6 -26.3 -449.6 -569.0 963.1 167.7 1

 2 FA103164103 Nonfinancial corporate business -325.6 -548.3 -453.2 -699.2 -172.9 -446.0 -494.8 -391.7 -67.9 2

 3 FA793164105 Domestic financial sectors 418.9 198.4 209.6 135.4 324.7 205.0 173.4 281.2 626.6 3

 4 FA763164103 U.S.-chartered depository institutions 2.8 -5.2 1.4 -6.8 1.3 6.9 3.9 -7.5 3.1 4

 5 FA513164103 Property-casualty insurance companies -12.8 -9.7 -8.0 -4.0 -6.1 -7.2 -14.6 -14.1 2.4 5

 6 FA543164173 Life insurance companies -16.2 -11.9 -17.0 -23.4 -16.6 -17.1 -10.7 -22.5 1.6 6

 7 FA554090005 Closed-end funds 0.7 1.8 5.9 5.7 6.9 6.3 4.6 11.3 -1.0 7

 8 FA564090005 Exchange-traded funds 471.0 311.0 322.6 264.3 339.6 349.6 336.8 371.4 616.7 8

 9 FA643164103 REITs 41.8 21.5 36.7 32.7 50.7 33.7 29.6 23.0 26.5 9

 10 FA403164105 Government-sponsored enterprises 0.9 4.5 -4.2 -10.8 4.1 -5.5 -4.4 27.6 -38.5 10

 11 FA663164103 Brokers and dealers 9.3 -2.3 22.1 8.6 64.7 2.6 12.5 31.5 -21.7 11

 12 FA733164103 Holding companies -78.6 -111.3 -149.8 -131.0 -119.8 -164.2 -184.2 -139.4 37.5 12

 13 FA503164105 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA263164100 Rest of the world (2) 139.9 171.3 -191.3 -130.8 -178.1 -208.7 -247.6 1073.5 -390.9 14

 15 FA893064105 Net purchases 233.3 -178.5 -434.9 -694.6 -26.3 -449.6 -569.0 963.1 167.7 15

 16 FA153064105 Household sector 128.5 -115.5 84.3 591.6 -869.4 310.7 304.1 -428.3 -91.2 16

 17 FA103064103 Nonfinancial corporate business -89.1 -38.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 17

 18 FA313064105 Federal government -0.1 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FA213064103 State and local governments -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 19

 20 FA713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA763064105 U.S.-chartered depository institutions -2.0 2.5 0.8 2.4 1.9 -2.7 1.5 4.6 -5.5 21

 22 FA753064103 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA513064105 Property-casualty insurance companies 9.8 20.1 -1.8 -10.1 -5.5 25.4 -16.9 -5.8 -62.1 23

 24 FA543064105 Life insurance companies -5.9 -44.5 1.1 -3.1 6.6 7.9 -7.0 -6.9 -13.3 24

 25 FA573064105 Private pension funds -53.1 -80.0 -8.6 -52.3 187.2 -89.8 -79.5 111.8 65.2 25

 26 FA343064105 Federal government retirement funds 6.5 -21.6 -5.1 -0.1 -9.9 -14.4 3.9 -48.1 19.7 26

 27 FA223064145 State and local govt. retirement funds -61.9 -82.3 -221.1 -86.1 30.6 -454.1 -374.7 520.8 -69.3 27

 28 FA653064100 Mutual funds -133.4 -120.5 -219.3 -226.1 -197.0 -202.4 -251.8 -368.3 -327.5 28

 29 FA553064103 Closed-end funds -0.5 -0.4 2.6 0.5 5.3 -0.1 4.7 7.7 0.0 29

 30 FA563064100 Exchange-traded funds 347.3 210.4 165.9 127.7 184.1 166.1 185.7 282.0 180.8 30

 31 FA663064103 Brokers and dealers -26.3 -19.9 -22.8 -35.1 62.2 -23.2 -94.9 54.3 18.2 31

 32 FA503064105 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31.9 32

 33 FA263064105 Rest of the world (3) 116.9 110.9 -207.7 -1000.9 580.7 -169.8 -240.9 842.4 424.1 33

(1) Includes shares of exchange-traded funds, closed-end funds, and real estate investment trusts. Excludes mutual fund shares shown on table L.224.

(2) Net purchases of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Net purchases of U.S. issues by foreign residents.

F.224 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA653164205 Net issues 318.4 -63.3 208.2 287.7 79.9 114.5 350.9 -1222.8 66.7 1

 2 FA653164205 Net purchases 318.4 -63.3 208.2 287.7 79.9 114.5 350.9 -1222.8 66.7 2

 3 FA153064205 Household sector 309.1 21.9 378.2 293.4 281.9 219.5 718.0 -1042.0 332.1 3

 4 FA103064203 Nonfinancial corporate business 7.6 -9.8 5.0 5.0 5.0 5.0 5.0 5.0 5.0 4

 5 FA213064203 State and local governments 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 5

 6 FA763064203 U.S.-chartered depository institutions 0.0 -5.9 -2.1 -6.2 0.1 -0.2 -1.9 0.1 -2.8 6

 7 FA473064205 Credit unions 0.1 0.4 0.3 0.9 0.7 -0.1 -0.4 1.8 0.2 7

 8 FA513064205 Property-casualty insurance companies 1.2 -1.1 0.1 -1.1 4.9 2.7 -5.8 1.2 1.6 8

 9 FA543064205 Life insurance companies -75.9 -87.0 -86.6 -68.3 -98.8 -90.8 -88.3 -153.6 -60.8 9

 10 FA573064205 Private pension funds 41.1 -9.1 -42.1 -4.6 22.6 -111.1 -75.2 -84.2 -20.7 10

 11 FA223064205 State and local govt. retirement funds 1.3 -2.6 9.2 -63.5 102.6 122.2 -124.4 -64.4 11.4 11

 12 FA263064203 Rest of the world 32.6 28.7 -55.2 130.8 -240.3 -33.9 -77.3 112.1 -200.5 12

(1) Shares of open-end investment companies; excludes shares of money market funds and exchange-traded funds.
Transactions

Z.1, September 21, 2020 69

F.225 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893170005 Net change in trade payables 212.3 507.5 236.5 273.9 232.8 222.1 217.1 61.0 -17.0 1

 2 FA163170005 Nonprofit organizations (1) 6.4 9.1 8.1 8.1 8.1 8.1 8.1 8.2 8.2 2

 3 FA103170005 Nonfinancial corporate business 81.3 320.7 82.9 139.4 96.1 17.4 78.8 -156.8 -483.0 3

 4 FA113170005 Nonfinancial noncorporate business 7.8 74.2 61.9 55.6 51.6 82.3 58.2 62.1 -171.1 4

 5 FA313170005 Federal government 17.5 56.9 17.0 17.2 3.0 9.7 38.3 -6.2 591.3 5

 6 FA213170003 State and local governments 45.4 48.1 49.4 48.6 49.6 49.5 50.0 50.3 47.9 6

 7 FA513170005 Property-casualty insurance companies 1.0 8.4 2.6 0.9 3.7 1.3 4.6 2.2 6.1 7

 8 FA543170005 Life insurance companies 37.5 15.2 13.5 18.0 21.5 31.0 -16.5 92.6 15.1 8

 9 FA663170003 Brokers and dealers 7.9 -27.8 -1.0 -7.5 0.5 1.8 1.2 17.4 -9.3 9

 10 FA263170005 Rest of the world 7.4 2.7 2.0 -6.3 -1.2 21.0 -5.5 -8.9 -22.1 10

 11 FA893070005 Net change in trade receivables 298.1 555.9 183.5 312.1 246.4 68.4 107.3 -93.3 -97.8 11

 12 FA163070005 Nonprofit organizations (1) 11.2 6.7 7.6 7.6 7.6 7.6 7.6 7.9 27.0 12

 13 FA103070005 Nonfinancial corporate business 160.9 396.4 81.2 186.9 124.0 -29.7 43.8 -281.0 -399.0 13

 14 FA113070005 Nonfinancial noncorporate business 55.0 62.8 53.6 52.1 46.4 61.3 54.5 43.4 269.9 14

 15 FA313070000 Federal government 0.1 10.4 -1.4 2.8 2.7 -4.5 -6.6 0.7 4.3 15

 16 FA213070003 State and local governments 6.2 27.6 10.1 1.1 16.3 15.8 7.4 -19.1 -39.4 16

 17 FA513070005 Property-casualty insurance companies 9.4 17.8 6.6 16.2 23.3 -9.5 -3.6 28.1 20.8 17

 18 FA543070005 Life insurance companies 11.1 -0.7 6.5 11.6 13.6 20.2 -19.6 75.4 -7.0 18

 19 FA673070003 ABS issuers -1.5 1.4 0.6 -2.5 -1.6 -1.6 8.3 9.5 -5.9 19

 20 FA613070103 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.0 20

 21 FA263070005 Rest of the world 45.6 33.4 18.6 36.3 14.1 8.8 15.4 41.8 28.6 21

 22 FA903070005 Discrepancy -85.7 -48.4 53.0 -38.1 -13.6 153.6 109.9 154.3 80.8 22

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

F.226 Life Insurance Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893140005 Net change in liabilities 66.4 11.9 34.4 22.9 33.8 80.1 0.8 128.2 -46.0 1

 2 FA313140003 Federal government -0.2 0.2 0.9 2.0 -0.4 1.6 0.3 -0.6 -0.0 2

 3 FA543140005 Life insurance companies 43.4 43.3 31.7 19.5 32.5 75.1 -0.2 123.3 -44.4 3

 4 FA263140005 Rest of the world 23.1 -31.6 1.8 1.3 1.7 3.3 0.7 5.5 -1.6 4

 5 FA893140005 Net change in assets 66.4 11.9 34.4 22.9 33.8 80.1 0.8 128.2 -46.0 5

 6 FA153040005 Household sector 19.0 49.4 16.7 8.3 14.7 57.2 -13.4 99.2 -49.2 6

 7 FA763040005 U.S.-chartered depository institutions 6.4 3.9 6.7 5.4 8.2 5.8 7.3 3.6 5.3 7

 8 FA543040005 Life insurance companies 34.2 -36.2 6.7 5.0 6.6 12.6 2.8 20.5 -5.8 8

 9 FA733040005 Holding companies 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 9

 10 FA543141905 Rest of the world 2.7 -9.3 0.3 0.2 0.3 0.5 0.1 0.9 -0.2 10
Transactions

70 Z.1, September 21, 2020

F.227 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893150005 Net change in liabilities 488.8 396.6 427.5 446.9 436.8 481.8 344.6 580.9 222.4 1

 2 FA543150005 Life insurance companies (1) 0.2 42.2 11.2 -37.0 39.9 88.7 -46.7 263.0 -154.0 2

 3 FA574190005 Private pension funds (2) 168.2 16.7 77.7 126.1 68.4 67.3 49.1 66.6 29.9 3

 4 FA344090005 Federal government retirement funds (3) 81.2 83.9 88.5 84.8 89.1 92.3 87.6 86.7 88.2 4

 5 FA224190005 State and local govt. retirement funds 235.7 195.2 247.0 270.4 236.3 228.6 252.8 150.5 260.7 5

 6 FA263150005 Rest of the world 3.6 58.7 3.1 2.6 3.1 4.9 1.9 14.1 -2.3 6

 7 FA893150005 Net change in assets 488.8 396.6 427.5 446.9 436.8 481.8 344.6 580.9 222.4 7

 8 FA153050005 Households (4) 480.6 285.5 419.2 440.0 428.6 468.7 339.5 543.2 228.5 8

 9 FA543050005 Life insurance companies 7.8 100.1 7.7 6.3 7.6 12.2 4.7 34.8 -5.6 9

 10 FA543151905 Rest of the world 0.4 11.0 0.6 0.5 0.6 1.0 0.4 2.8 -0.4 10

 Memo:

 11 FA893131573 Individual Retirement Accounts (IRAs): (5) 443.5 412.6 290.4 159.5 221.1 461.6 319.4 -57.3 ND 11

 12 FA763131573 U.S.-chartered depository institutions -13.1 21.0 -13.7 -102.8 0.1 -108.0 155.8 190.6 ND 12

 13 FA473131573 Credit unions -0.4 -0.2 3.5 3.9 3.9 4.2 1.9 3.9 ND 13

 14 FA543131503 Life insurance companies 20.7 1.6 27.0 43.8 25.2 19.6 19.4 -55.6 ND 14

 15 FA633131573 Money market funds -4.0 25.0 49.0 4.0 52.0 84.0 56.0 220.0 ND 15

 16 FA653131573 Mutual funds 81.0 -6.0 77.3 121.4 44.4 -17.6 161.0 -331.0 ND 16

 17 FA153131575 Other self-directed accounts 359.3 371.2 147.4 89.2 95.5 479.4 -74.7 -85.2 ND 17

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Asset of the household and nonprofit organizations sector (table F.101). Figures for depositories (lines 12 and 13) include Keogh accounts. Variable annuities in IRAs are included

 in the life insurance sector (line 14) and excluded from the money market fund and mutual fund sectors (lines 15 and 16).

F.228 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893178005 Net change in taxes payable by all 276.4 -4.8 2.9 -9.2 -67.3 70.0 18.0 27.4 238.2 1

 businesses

 2 FA103178005 Nonfinancial corporate business 211.1 -10.6 -15.5 -8.0 -73.8 30.1 -10.3 43.2 145.6 2

 3 FA113178003 Nonfinancial noncorporate business 4.6 6.4 5.5 5.3 4.7 6.3 5.6 24.8 70.6 3

 4 FA763178003 U.S.-chartered depository institutions 32.6 5.4 14.5 -16.8 13.8 40.8 20.4 -67.0 9.9 4

 5 FA513178005 Property-casualty insurance companies 5.7 -0.8 -0.3 4.1 -5.7 -3.6 3.9 10.6 1.1 5

 6 FA543178075 Life insurance companies 2.5 -2.9 0.4 2.7 -3.9 -0.8 3.6 10.1 4.9 6

 7 FA613178005 Finance companies 9.6 -2.9 -0.3 0.8 -1.8 -1.7 1.4 0.3 -2.4 7

 8 FA663178005 Brokers and dealers 10.3 0.5 -1.4 2.6 -0.7 -1.1 -6.6 5.3 8.5 8

 9 FA893078005 Net change in business taxes receivable 225.5 22.3 -15.4 -3.8 -39.1 -50.0 31.3 -29.6 373.5 9

 10 FA313078000 Federal government 220.4 15.9 -20.9 -7.1 -41.8 -58.2 23.5 -51.8 305.5 10

 11 FA213078005 State and local governments 5.0 6.4 5.5 3.3 2.6 8.2 7.7 22.2 68.0 11

 12 FA903078005 Discrepancy 51.0 -27.1 18.3 -5.4 -28.2 120.0 -13.2 57.0 -135.3 12

F.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA152090205 Total household investment 92.2 -17.4 19.3 18.8 16.6 15.7 26.3 44.6 15.4 1

 2 FA112090205 Nonfinancial noncorporate business 91.3 -27.0 14.1 18.1 16.7 6.9 14.8 39.3 0.8 2

 3 FA662090003 Brokers and dealers 1.0 9.5 5.2 0.7 -0.0 8.8 11.5 5.3 14.6 3
Transactions

Z.1, September 21, 2020 71

F.230 Direct Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 U.S. direct investment abroad:

 1 FA263192005 Liab.: Rest of the world (1) 353.4 -169.4 118.9 -187.6 349.6 -6.2 319.7 -75.0 242.7 1

 2 FA263192101 Equity 392.2 -218.1 173.5 113.7 175.8 183.5 221.2 62.5 223.0 2

 3 FA263192113 Equity (other than reinvested earnings) 42.0 72.0 17.4 30.1 32.6 12.1 -5.0 57.3 115.5 3

 4 FA263192125 Reinvested earnings 350.2 -290.1 156.1 83.5 143.2 171.5 226.2 5.2 107.4 4

 5 FA263192193 Of which: Current-cost adjustment 25.6 25.1 25.3 25.2 25.3 25.4 25.5 25.2 25.2 5

 6 FA263192305 Intercompany debt (2) -38.8 48.8 -54.6 -301.2 173.8 -189.7 98.5 -137.5 19.7 6

 7 FA263192313 U.S. parents’ claims 11.0 42.9 15.0 -157.6 301.2 -91.6 8.1 -143.4 -101.0 7

 8 FA263092313 Less: U.S. parents’ liabilities 49.8 -5.8 69.7 143.6 127.4 98.1 -90.5 -5.9 -120.7 8

 9 FA103092005 Asset: Nonfinancial corporate business 310.5 -157.6 77.5 -237.6 321.5 -61.1 287.1 -130.4 247.4 9

 10 FA763092000 U.S.-chartered depository institutions 12.2 1.4 9.6 -2.0 -3.9 24.0 20.5 3.1 9.6 10

 11 FA513092003 Property-casualty insurance companies 1.1 9.3 3.6 6.9 4.4 -0.3 3.3 20.7 29.0 11

 12 FA543092073 Life insurance companies 3.1 -11.0 -2.8 3.9 -6.2 -0.9 -8.2 3.7 -16.1 12

 13 FA613092003 Finance companies 16.0 -8.6 12.5 16.3 18.0 27.7 -12.1 9.9 -16.8 13

 14 FA663092003 Brokers and dealers 10.4 -2.9 18.6 24.9 15.7 4.5 29.1 18.1 -10.4 14

 Foreign direct investment in U.S.:

 15 FA103192005 Liab.: Nonfinancial corporate business 281.5 184.5 253.6 296.6 268.1 173.1 276.6 157.3 59.4 15

 16 FA115114005 Nonfinancial noncorporate business 2.4 21.0 -0.3 3.1 -0.7 -2.0 -1.5 0.2 2.9 16

 17 FA753192003 Foreign banking offices in U.S. 7.6 7.1 1.7 7.0 -2.1 -2.5 4.5 -2.4 -3.6 17

 18 FA513192003 Property-casualty insurance companies -4.0 8.6 0.4 5.5 -3.6 9.0 -9.1 4.0 -3.3 18

 19 FA543192073 Life insurance companies 4.6 8.3 10.9 12.3 5.2 14.5 11.5 -2.3 5.5 19

 20 FA613192003 Finance companies 0.3 8.5 5.3 -3.3 4.0 6.8 13.8 -0.7 -0.6 20

 21 FA663192005 Brokers and dealers 33.1 -7.1 26.8 59.9 16.3 42.9 -11.9 -158.2 -15.2 21

 22 FA733192003 Holding companies -10.4 12.4 -16.4 -51.1 -2.0 -37.8 25.1 172.0 20.2 22

 23 FA503192003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA263092001 Asset: Rest of the world (1) 315.0 243.4 282.1 330.0 285.2 204.0 309.0 170.0 65.2 24

 25 FA263092101 Equity 302.0 344.3 290.3 343.6 290.9 212.6 314.1 178.9 105.4 25

 26 FA263092113 Equity (other than reinvested earnings) 199.8 199.1 143.0 183.7 131.4 71.3 185.5 110.2 63.0 26

 27 FA263092125 Reinvested earnings 102.2 145.2 147.3 159.9 159.4 141.3 128.6 68.7 42.4 27

 28 FA263092193 Of which: Current-cost adjustment 19.7 20.0 20.6 20.5 20.6 20.7 20.7 20.8 20.8 28

 29 FA263092303 Intercompany debt 12.9 -100.8 -8.3 -13.7 -5.7 -8.6 -5.1 -8.8 -40.1 29

 30 FA263092323 U.S. affiliates’ liabilities 15.2 -76.9 -8.3 -17.1 -20.4 1.7 2.4 35.8 -18.7 30

 31 FA263192323 Less: U.S. affiliates’ claims 2.2 23.9 -0.1 -3.4 -14.8 10.3 7.5 44.6 21.5 31

 Memo:

 Direct investment, asset/liability presentation:

 32 FA263192035 Net U.S. acquisition of direct investment assets 405.4 -151.3 188.5 -47.4 462.2 102.3 236.7 -36.3 143.4 32

 33 FA263192101 Equity (line 2) 392.2 -218.1 173.5 113.7 175.8 183.5 221.2 62.5 223.0 33

 34 FA263192345 Intercompany debt 13.2 66.8 14.9 -161.0 286.5 -81.2 15.5 -98.7 -79.5 34

 35 FA263192313 U.S. parents’ claims (line 7) 11.0 42.9 15.0 -157.6 301.2 -91.6 8.1 -143.4 -101.0 35

 36 FA263192323 U.S. affiliates’ claims (line 33) 2.2 23.9 -0.1 -3.4 -14.8 10.3 7.5 44.6 21.5 36

 37 FA263092035 Net U.S. incurrence of direct investment liabilities 367.0 261.5 351.6 470.2 397.8 312.5 226.0 208.8 -34.0 37

 38 FA263092101 Equity (line 27) 302.0 344.3 290.3 343.6 290.9 212.6 314.1 178.9 105.4 38

 39 FA263092345 Intercompany debt 65.0 -82.8 61.3 126.6 107.0 99.8 -88.1 29.9 -139.4 39

 40 FA263092313 U.S. parents’ liabilities (line 8) 49.8 -5.8 69.7 143.6 127.4 98.1 -90.5 -5.9 -120.7 40

 41 FA263092323 U.S. affiliates’ liabilities (line 32) 15.2 -76.9 -8.3 -17.1 -20.4 1.7 2.4 35.8 -18.7 41

(1) Direct investment is 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.
Transactions

72 Z.1, September 21, 2020

F.231 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893190005 Net change in liabilities 190.1 970.5 1503.8 2123.1 1229.6 620.4 2042.0 2611.4 677.5 1

 2 FA543077073 Household sector 1.8 1.9 1.5 5.8 -2.8 3.5 -0.5 10.2 -3.8 2

 3 FA103190005 Nonfinancial corporate business -157.0 767.0 937.8 1027.7 584.1 517.3 1622.1 605.1 281.1 3

 4 FA113193003 Nonfinancial noncorporate business 104.4 88.9 75.8 73.8 65.6 86.7 77.0 114.3 97.1 4

 5 FA313190005 Federal government 19.0 -36.4 -16.7 100.7 227.8 -431.3 35.9 -48.2 -70.7 5

 6 FA223073045 State and local governments 207.9 224.9 300.6 306.3 -22.2 444.8 473.6 -140.4 289.1 6

 7 FA713190005 Monetary authority 0.9 2.0 -0.1 -181.8 -64.5 86.2 159.6 -106.4 -144.0 7

 8 FA763190005 U.S.-chartered depository institutions 55.9 -38.5 150.2 260.9 338.6 -145.3 146.4 118.0 175.5 8

 9 FA753190005 Foreign banking offices in U.S. -6.2 27.0 -31.7 46.2 -36.9 -37.6 -98.6 185.1 -79.8 9

 10 FA743193005 Banks in U.S.-affiliated areas 0.3 -0.9 -0.3 -0.1 -0.0 0.0 -1.0 0.4 1.8 10

 11 FA473193005 Credit unions 1.0 -0.0 1.2 30.6 -4.1 -19.3 -2.4 30.7 18.3 11

 12 FA513190005 Property-casualty insurance companies 110.0 40.9 80.9 64.5 110.2 74.6 74.4 13.7 189.9 12

 13 FA543190005 Life insurance companies 37.8 -2.1 79.9 74.8 104.9 152.5 -12.5 348.7 89.5 13

 14 FA403190005 Government-sponsored enterprises 0.3 1.4 2.4 -30.2 -29.0 71.0 -2.2 21.4 -72.5 14

 15 FA613190005 Finance companies -1.9 -63.5 -13.9 58.7 47.9 -38.3 -124.0 71.2 -75.5 15

 16 FA643193005 REITs 4.8 16.1 -6.8 -20.8 -46.1 28.4 11.3 -8.4 12.4 16

 17 FA663190005 Brokers and dealers -43.8 -20.3 3.8 192.5 -7.6 -19.8 -150.1 -256.3 168.8 17

 18 FA733193005 Holding companies -258.9 -93.2 -29.0 -39.0 69.5 -61.8 -84.8 -272.2 84.8 18

 19 FA503190005 Other financial business 86.8 36.5 -37.6 64.4 -126.0 -110.8 21.9 544.9 156.2 19

 20 FA263190005 Rest of the world 27.0 18.7 5.9 88.2 20.0 19.7 -104.1 1379.4 -440.7 20

 21 FA893090005 Net change in assets 746.8 1028.4 1524.1 1774.8 1128.2 1567.5 1626.0 3763.5 1635.0 21

 22 FA153090005 Household sector 54.2 52.1 41.8 20.9 40.8 28.2 77.2 31.9 60.7 22

 23 FA103090005 Nonfinancial corporate business 46.2 583.4 324.1 158.4 -207.1 614.8 730.3 561.6 -163.4 23

 24 FA113090005 Nonfinancial noncorporate business 416.4 237.0 212.9 207.4 185.3 242.5 216.2 169.4 201.6 24

 25 FA213093003 State and local governments -29.1 5.3 17.7 53.8 23.6 24.2 -30.9 -54.0 41.7 25

 26 FA313090005 Federal government 10.9 15.0 7.0 8.0 12.1 5.8 2.1 11.9 460.4 26

 27 FA713090005 Monetary authority 7.4 -10.8 -2.2 -16.8 -1.1 -7.5 16.6 1427.3 -498.7 27

 28 FA763090005 U.S.-chartered depository institutions -29.3 -59.0 20.4 213.1 56.7 29.1 -217.2 421.2 74.9 28

 29 FA753093005 Foreign banking offices in U.S. 33.7 -20.4 3.4 68.1 6.7 -36.2 -24.9 105.1 -75.9 29

 30 FA743093005 Banks in U.S.-affiliated areas -8.4 1.4 -11.5 -14.3 -20.1 6.9 -18.8 -19.8 -9.9 30

 31 FA473090005 Credit unions 1.5 7.4 5.7 -1.2 2.7 8.7 12.6 29.2 84.2 31

 32 FA513090005 Property-casualty insurance companies 19.3 26.4 5.5 -19.4 44.2 38.0 -40.9 216.1 -2.4 32

 33 FA543090005 Life insurance companies -21.9 48.5 18.8 -50.4 74.6 91.1 -39.8 414.2 -109.7 33

 34 FA573090005 Private pension funds 20.9 37.3 36.8 58.4 -28.9 78.1 39.6 -19.5 -10.7 34

 35 FA343073045 Federal government retirement funds 6.2 -51.9 -35.0 72.7 191.6 -403.6 -0.7 -47.8 -68.4 35

 36 FA223090005 State and local govt. retirement funds 265.2 222.3 548.8 363.4 278.1 590.6 962.8 -354.2 510.7 36

 37 FA633093005 Money market funds -0.7 1.4 2.4 -218.2 50.3 139.1 38.5 123.3 235.2 37

 38 FA653093005 Mutual funds 38.0 -112.2 83.5 195.1 40.0 5.8 93.3 139.7 29.6 38

 39 FA563093003 Exchange-traded funds 1.6 1.7 8.4 1.3 -0.0 37.3 -5.1 46.2 94.9 39

 40 FA403093005 Government-sponsored enterprises -39.8 -15.7 32.1 30.7 50.2 79.4 -32.1 91.3 79.5 40

 41 FA673090543 ABS issuers 7.7 4.5 5.0 13.5 -3.4 4.7 5.0 18.0 12.8 41

 42 FA613090005 Finance companies -16.7 26.1 -2.8 -8.5 18.5 1.6 -22.9 64.3 13.4 42

 43 FA643090005 REITs 11.5 24.8 -12.0 1.5 -61.5 -14.0 25.9 20.0 -26.9 43

 44 FA663090005 Brokers and dealers 27.5 -59.8 73.3 260.4 185.8 16.4 -169.2 419.9 53.1 44

 45 FA733090005 Holding companies -44.4 -26.7 99.5 254.4 316.3 -108.2 -64.4 235.6 357.7 45

 46 FA503094505 Other financial business -41.4 81.0 38.7 121.7 -130.0 93.8 69.3 -289.3 285.7 46

 47 FA263076005 Rest of the world 10.4 9.1 2.0 0.7 2.9 1.0 3.5 1.7 4.7 47

 48 FA903090005 Discrepancy -556.7 -57.9 -20.3 348.3 101.5 -947.0 416.0 -1152.1 -957.6 48
Transactions

Z.1, September 21, 2020 73

F.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 Federal government equity in IBRD, etc.:

 1 FA313092803 Liab.: Rest of the world 1.5 1.3 1.4 0.0 5.4 0.1 0.0 5.2 0.0 1

 2 FA313092803 Asset: Federal government 1.5 1.3 1.4 0.0 5.4 0.1 0.0 5.2 0.0 2

 Federal Reserve Bank stock:

 3 FA713164003 Liab.: Monetary authority 0.9 0.9 -0.6 0.7 -0.5 0.4 -3.2 1.1 0.2 3

 4 FA713164003 Asset: U.S.-chartered depository institutions 0.9 0.9 -0.6 0.7 -0.5 0.4 -3.2 1.1 0.2 4

 Equity in govt.-sponsored enterprises:

 5 FA403192405 Liab.: Government-sponsored enterprises 4.2 1.1 -3.7 -10.6 3.9 -5.4 -2.6 25.9 -35.4 5

 6 FA103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.3 0.1 0.1 0.4 -0.1 -0.3 0.3 0.3 -0.3 6

 7 FA113092405 Nonfinancial noncorporate (FCS) 2.6 0.2 0.3 -0.1 0.5 0.7 -0.0 -0.5 0.7 7

 8 FA313092403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA763092405 U.S.-chartered depository institutions (FHLB) 0.7 0.6 -4.5 -10.7 3.6 -7.1 -4.0 22.1 -31.0 9

 10 FA473092403 Credit unions (FHLB) 0.6 -0.1 -0.0 -0.6 0.2 -0.1 0.4 1.4 -1.5 10

 11 FA513092403 Property-casualty insurance companies (FHLB) 0.0 0.0 0.0 0.1 -0.1 0.0 0.0 0.5 -0.1 11

 12 FA543092473 Life insurance companies (FHLB) 0.4 0.5 0.6 0.4 0.0 1.2 0.7 3.2 -2.5 12

 13 FA613092403 Finance companies -0.0 -0.2 0.0 0.0 0.0 0.1 0.0 -0.0 -0.1 13

 14 FA643092473 Real estate investment trusts (FHLB) -0.4 -0.0 -0.0 0.0 -0.2 0.0 0.0 -1.0 -0.7 14

 Holding company net transactions with affiliates:

 15 FA763194735 Liab.: U.S.-chartered depository institutions 26.8 4.8 103.0 67.7 267.7 -41.1 117.7 60.8 500.6 15

 16 FA513194733 Property-casualty insurance companies 0.6 1.2 0.8 1.2 2.1 -0.6 0.7 -0.6 -19.3 16

 17 FA543194733 Life insurance companies 2.5 -11.0 1.1 1.8 1.7 1.0 0.1 -23.7 0.0 17

 18 FA613194733 Finance companies -6.1 -13.3 -4.8 -8.1 -2.5 -1.8 -7.0 -3.4 -1.0 18

 19 FA663194735 Brokers and dealers -55.6 -23.2 25.4 96.8 41.2 -28.7 -7.7 263.8 -204.3 19

 20 FA263194735 Rest of the world -1.8 24.9 -1.2 97.2 11.6 12.5 -126.1 -46.3 69.1 20

 21 FA733094705 Asset: Holding companies -33.5 -16.6 124.3 256.5 321.7 -58.7 -22.3 250.7 345.1 21

 NFC investment in finance company affiliates:

 22 FA103094105 Liab.: Finance companies 12.5 2.5 -0.6 6.1 -8.1 -2.1 1.5 -5.0 -11.7 22

 23 FA103094105 Asset: Nonfinancial corporate business 12.5 2.5 -0.6 6.1 -8.1 -2.1 1.5 -5.0 -11.7 23

 Other financial businesses’ investment in affiliates:

 24 FA753194503 Liab.: Foreign banking offices in U.S. -20.1 43.4 -3.5 61.7 -64.6 -14.5 3.2 11.4 -43.7 24

 25 FA663194505 Brokers and dealers -21.4 37.7 42.3 60.0 -65.5 108.3 66.2 -300.6 329.4 25

 26 FA503094505 Asset: Other financial business -41.4 81.0 38.7 121.7 -130.0 93.8 69.3 -289.3 285.7 26

 Equity investment under Public-Private Inv. Program:

 27 FA503194305 Liab.: Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FA153094305 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA313094303 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 Equity investment in Federal Reserve facilities:

 30 FA313094213 Liab.: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.0 30

 31 FA503194205 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 450.0 31

 32 FA313094205 Asset: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 456.0 32

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
Transactions

74 Z.1, September 21, 2020

F.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 Nonofficial foreign currencies:

 1 FA263191103 Liab.: Rest of the world 6.5 -7.9 -0.5 -11.4 -5.4 3.8 11.0 1415.8 -523.2 1

 2 FA313091105 Asset: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA713091103 Monetary authority (1) 6.5 -7.9 -0.5 -11.4 -5.4 3.8 11.0 1415.8 -523.2 3

 Postal Savings System deposits:

 4 FA313131003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA313131003 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 FA403197033 Liab.: Government-sponsored enterprises -0.3 -0.2 2.8 3.1 2.5 7.3 -1.5 18.6 3.0 6

 7 FA403197033 Asset: U.S.-chartered depository institutions -0.3 -0.2 2.8 3.1 2.5 7.3 -1.5 18.6 3.0 7

 Funding agreements backing securities:

 8 FA673090543 Liab.: Life insurance companies (2) 7.7 4.5 5.0 13.5 -3.4 4.7 5.0 18.0 12.8 8

 9 FA673090543 Asset: ABS issuers 7.7 4.5 5.0 13.5 -3.4 4.7 5.0 18.0 12.8 9

 Deferred and unpaid life insurance premiums:

 10 FA543077073 Liab.: Household sector 1.8 1.9 1.5 5.8 -2.8 3.5 -0.5 10.2 -3.8 10

 11 FA543077073 Asset: Life insurance companies 1.8 1.9 1.5 5.8 -2.8 3.5 -0.5 10.2 -3.8 11

 Life insurance company reserves:

 12 FA543195005 Liab.: Life insurance companies 17.6 26.3 17.9 20.1 12.1 11.5 27.9 3.5 19.5 12

 13 FA263195105 Rest of the world -0.7 -1.5 0.8 0.5 0.5 0.7 1.4 -0.0 0.5 13

 14 FA153095105 Asset: Household sector 13.1 20.3 15.4 18.4 10.4 9.4 23.4 3.6 17.8 14

 15 FA543095105 Life insurance companies 3.9 4.5 3.3 2.3 2.3 2.8 5.9 -0.1 2.2 15

 Policy payables:

 16 FA513176005 Liab.: Property-casualty insurance companies 75.8 44.1 44.0 14.7 62.9 21.5 76.9 37.7 102.7 16

 17 FA263176005 Rest of the world 21.4 1.8 5.5 1.8 7.8 2.7 9.6 4.7 12.8 17

 18 FA153076005 Asset: Household sector 31.6 17.9 12.0 -1.1 20.8 -0.4 28.7 16.1 45.6 18

 19 FA103076005 Nonfinancial corporate business 13.9 11.4 15.0 6.3 20.4 9.0 24.2 11.5 30.5 19

 20 FA113076005 Nonfinancial noncorporate business 4.1 -1.3 10.0 7.1 11.7 9.5 11.7 4.2 10.3 20

 21 FA513076005 Property-casualty insurance companies 37.2 8.8 10.5 3.5 15.0 5.1 18.3 9.0 24.5 21

 22 FA263076005 Rest of the world 10.4 9.1 2.0 0.7 2.9 1.0 3.5 1.7 4.7 22

 Unallocated insurance company contracts:

 23 FA593095005 Liab.: Life insurance companies 7.8 -3.1 14.8 40.7 11.8 2.1 4.6 -75.5 40.2 23

 24 FA573095005 Asset: Private pension funds -5.7 1.1 1.1 6.5 0.3 4.2 -6.6 -15.1 9.0 24

 25 FA223095505 State and local government retirement funds 13.5 -4.3 13.7 34.2 11.5 -2.1 11.2 -60.5 31.2 25

 Pension fund contributions payable:

 26 FA573074005 Liab.: Nonfinancial corporate business 19.2 -34.6 -0.9 -6.0 22.0 -10.3 -9.1 29.7 7.7 26

 27 FA573074005 Asset: Private pension funds 19.2 -34.6 -0.9 -6.0 22.0 -10.3 -9.1 29.7 7.7 27

 Securities borrowed (net):

 28 FA663097005 Liab.: Other financial business 36.4 -18.9 1.7 61.1 34.7 35.4 -124.3 234.1 12.8 28

 29 FA663097005 Asset: Brokers and dealers 36.4 -18.9 1.7 61.1 34.7 35.4 -124.3 234.1 12.8 29

 Retiree health care funds:

 30 FA313195105 Liab.: Federal government (3) 9.6 13.9 14.4 3.6 9.6 19.2 25.0 12.3 -2.7 30

 31 FA313195105 Asset: Household sector 9.6 13.9 14.4 3.6 9.6 19.2 25.0 12.3 -2.7 31

 Claims of pension fund on sponsor:

 32 FA573073005 Liab.: Nonfinancial corporate business -67.0 80.1 -13.8 13.8 -96.4 23.8 3.8 -132.2 -64.8 32

 33 FA343073045 Federal government 6.2 -51.9 -35.0 72.7 191.6 -403.6 -0.7 -47.8 -68.4 33

 34 FA223073045 State and local governments 207.9 224.9 300.6 306.3 -22.2 444.8 473.6 -140.4 289.1 34

 35 FA573073005 Asset: Private pension funds -67.0 80.1 -13.8 13.8 -96.4 23.8 3.8 -132.2 -64.8 35

 36 FA343073045 Federal government retirement funds 6.2 -51.9 -35.0 72.7 191.6 -403.6 -0.7 -47.8 -68.4 36

 37 FA223073045 State and local govt. retirement funds 207.9 224.9 300.6 306.3 -22.2 444.8 473.6 -140.4 289.1 37

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

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables F.133 and F.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
Transactions

Z.1, September 21, 2020 75

F.234 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA893193005 Net change in liabilities -103.9 620.8 985.5 1208.2 811.9 425.4 1496.5 1234.2 -200.9 1

 2 FA103193005 Nonfinancial corporate business -109.2 721.5 952.5 1019.9 658.6 503.9 1627.5 707.7 338.2 2

 3 FA113193003 Nonfinancial noncorporate business 104.4 88.9 75.8 73.8 65.6 86.7 77.0 114.3 97.1 3

 4 FA313193005 Federal government 3.2 1.6 3.9 24.4 26.6 -46.9 11.5 -12.7 0.4 4

 5 FA713193005 Monetary authority -0.0 1.1 0.5 -182.6 -64.0 85.8 162.7 -107.4 -150.3 5

 6 FA763193005 U.S.-chartered depository institutions 29.1 -43.3 47.2 193.2 70.9 -104.1 28.7 57.2 -325.1 6

 7 FA753193005 Foreign banking offices in U.S. 13.8 -16.4 -28.2 -15.5 27.7 -23.2 -101.7 173.8 -36.1 7

 8 FA743193005 Banks in U.S.-affiliated areas 0.3 -0.9 -0.3 -0.1 -0.0 0.0 -1.0 0.4 1.8 8

 9 FA473193005 Credit unions 1.0 -0.0 1.2 30.6 -4.1 -19.3 -2.4 30.7 18.3 9

 10 FA513193005 Property-casualty insurance companies 33.7 -4.3 36.1 48.5 45.3 53.8 -3.1 -23.4 106.5 10

 11 FA543193005 Life insurance companies 2.2 -18.9 41.1 -1.3 82.8 133.2 -50.1 426.4 17.0 11

 12 FA403193005 Government-sponsored enterprises -3.6 0.6 3.2 -22.6 -35.4 69.1 1.8 -23.2 -40.1 12

 13 FA613193005 Finance companies -8.3 -52.6 -8.4 60.6 58.6 -34.5 -118.5 79.5 -62.8 13

 14 FA643193005 REITs 4.8 16.1 -6.8 -20.8 -46.1 28.4 11.3 -8.4 12.4 14

 15 FA663193005 Brokers and dealers 33.2 -34.7 -63.9 35.7 16.7 -99.4 -208.7 -219.5 43.7 15

 16 FA733193005 Holding companies -258.9 -93.2 -29.0 -39.0 69.5 -61.8 -84.8 -272.2 84.8 16

 17 FA503193005 Other financial business 50.4 55.4 -39.4 3.3 -160.8 -146.2 146.2 310.8 -306.6 17

 18 FA893093005 Net change in assets 452.8 678.7 1005.8 859.9 710.4 1372.5 1080.5 2386.3 756.7 18

 19 FA103093005 Nonfinancial corporate business 19.5 569.4 309.7 145.6 -219.3 608.1 704.2 554.8 -181.9 19

 20 FA113093005 Nonfinancial noncorporate business 409.7 238.1 202.6 200.4 173.1 232.3 204.6 165.8 190.6 20

 21 FA313093003 Federal government 9.4 13.7 5.6 8.0 6.7 5.7 2.1 6.7 4.4 21

 22 FA213093003 State and local governments -29.1 5.3 17.7 53.8 23.6 24.2 -30.9 -54.0 41.7 22

 23 FA713093005 Monetary authority 0.9 -3.0 -1.7 -5.4 4.2 -11.3 5.6 11.5 24.4 23

 24 FA763093005 U.S.-chartered depository institutions -30.7 -60.3 22.8 220.0 51.1 28.4 -208.5 379.5 102.7 24

 25 FA753093005 Foreign banking offices in U.S. 33.7 -20.4 3.4 68.1 6.7 -36.2 -24.9 105.1 -75.9 25

 26 FA743093005 Banks in U.S.-affiliated areas -8.4 1.4 -11.5 -14.3 -20.1 6.9 -18.8 -19.8 -9.9 26

 27 FA473093005 Credit unions 0.8 7.6 5.7 -0.6 2.5 8.8 12.2 27.8 85.7 27

 28 FA513093005 Property-casualty insurance companies -17.9 17.6 -5.0 -23.0 29.3 32.8 -59.2 206.6 -26.7 28

 29 FA543093005 Life insurance companies -28.0 41.6 13.5 -58.8 75.1 83.6 -45.9 400.9 -105.6 29

 30 FA573093005 Private pension funds 74.4 -9.4 50.4 44.2 45.3 60.4 51.5 98.1 37.4 30

 31 FA223093005 State and local govt. retirement funds 43.9 1.7 234.4 22.9 288.8 147.9 478.1 -153.4 190.4 31

 32 FA633093005 Money market funds -0.7 1.4 2.4 -218.2 50.3 139.1 38.5 123.3 235.2 32

 33 FA653093005 Mutual funds 38.0 -112.2 83.5 195.1 40.0 5.8 93.3 139.7 29.6 33

 34 FA563093003 Exchange-traded funds 1.6 1.7 8.4 1.3 -0.0 37.3 -5.1 46.2 94.9 34

 35 FA403093005 Government-sponsored enterprises -39.8 -15.7 32.1 30.7 50.2 79.4 -32.1 91.3 79.5 35

 36 FA613093005 Finance companies -16.7 26.2 -2.9 -8.5 18.5 1.5 -23.0 64.3 13.5 36

 37 FA643093005 REITs 11.9 24.8 -12.0 1.5 -61.3 -14.0 25.8 20.9 -26.2 37

 38 FA663093005 Brokers and dealers -8.8 -40.9 71.6 199.3 151.1 -19.0 -44.9 185.8 40.3 38

 39 FA733093005 Holding companies -10.8 -10.0 -24.8 -2.1 -5.4 -49.5 -42.1 -15.1 12.6 39

 40 FA903090005 Discrepancy -556.7 -57.9 -20.3 348.3 101.5 -947.0 416.0 -1152.1 -957.6 40
Transactions

76 Z.1, September 21, 2020

F.7 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA897005005 All sectors -556.4 -161.9 -192.0 212.4 -292.0 -888.4 199.8 -480.9 -597.2 1

 2 FA157005005 Household sector -54.3 -196.9 -858.5 -1616.1 -542.2 -467.6 -808.0 -560.0 -1037.9 2

 3 FA107005005 Nonfinancial corporate business -168.4 114.3 467.9 1289.7 263.3 -424.0 742.8 -773.9 285.6 3

 4 FA317005005 Federal government -58.4 -42.8 -27.6 695.9 -91.9 -434.2 -280.1 179.7 127.8 4

 5 FA217005005 State and local governments -34.7 -31.8 19.7 43.9 69.9 23.6 -58.6 -29.8 35.2 5

 6 FA797005005 Domestic financial sectors -318.8 -169.4 -89.2 -441.3 99.4 -78.3 63.5 77.9 270.6 6

 7 FA717005005 Monetary authority -3.0 5.0 -3.1 7.8 -2.8 -3.5 -13.9 -3.3 -3.4 7

 8 FA767005005 U.S.-chartered depository institutions -171.9 66.4 -17.4 -193.5 339.2 -161.0 -54.2 478.6 29.7 8

 9 FA757005005 Foreign banking officed in U.S. -43.1 53.4 17.9 -52.1 -82.8 77.9 128.8 -9.4 239.3 9

 10 FA747005005 Banks in U.S.-affiliated areas -0.1 -0.8 2.1 2.5 2.3 1.3 2.3 6.7 1.9 10

 11 FA477005005 Credit unions 1.7 -0.4 1.2 -0.2 5.3 4.0 -4.2 14.7 -15.3 11

 12 FA517005005 Property-casualty insurance companies 26.9 0.3 114.3 121.6 63.7 69.4 202.7 -192.1 138.3 12

 13 FA547005005 Life insurance companies 16.7 -39.2 -17.4 -32.1 -81.0 -31.4 75.0 -259.3 -39.3 13

 14 FA657005005 Mutual funds -68.1 -78.7 -48.4 -53.8 -46.7 -54.3 -38.8 -50.0 -40.0 14

 15 FA407005005 Government-sponsored enterprises 18.6 -19.5 2.6 -57.8 -15.6 101.8 -17.9 -18.6 -41.0 15

 16 FA677005005 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA617005005 Finance companies -3.1 -1.5 -21.4 -7.8 -22.5 27.4 -82.8 66.8 36.8 17

 18 FA647005005 REITs -10.1 -39.6 36.3 -34.8 39.6 33.9 106.6 83.2 -9.7 18

 19 FA667005005 Brokers and dealers 16.7 -28.0 8.6 53.7 32.8 22.4 -74.5 -79.0 -51.9 19

 20 FA737005005 Holding companies -99.8 -86.6 -164.7 -194.9 -132.0 -166.1 -165.7 39.7 25.2 20

 21 FA267005005 Rest of the world 78.3 164.5 295.5 240.3 -90.5 492.2 540.2 625.1 -278.6 21

F.8 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA907005005 All types -556.4 -161.9 -192.0 212.4 -292.0 -888.4 199.8 -480.9 -597.2 1

 2 FA903012005 Treasury currency -0.8 -0.4 -0.3 -0.4 -0.3 -0.3 -0.3 -0.4 -0.3 2

 3 FA903091005 Foreign deposits 126.1 175.9 47.1 26.6 -119.2 153.4 127.6 679.1 -303.1 3

 4 FA904010005 Net interbank transactions -2.5 -14.9 -10.4 400.7 -471.4 67.4 -38.2 263.8 -308.3 4

 5 FA902050005 Security repurchase agreements -214.4 -241.4 -261.4 -499.9 162.1 -295.9 -412.0 -503.4 932.0 5

 6 FA903020005 Mail floats -0.1 -0.6 -0.0 -46.8 64.8 -59.4 41.4 -83.9 99.6 6

 7 FA903023005 Federal government -0.4 -0.5 0.5 -46.8 64.1 -61.4 46.3 -83.3 98.3 7

 8 FA903028003 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA903029200 Private domestic 0.3 -0.2 -0.5 -0.0 0.7 2.0 -4.8 -0.6 1.3 9

 10 FA903070005 Trade credit -85.7 -48.4 53.0 -38.1 -13.6 153.6 109.9 154.3 80.8 10

 11 FA903078005 Taxes payable 51.0 -27.1 18.3 -5.4 -28.2 120.0 -13.2 57.0 -135.3 11

 12 FA903090005 Miscellaneous -556.7 -57.9 -20.3 348.3 101.5 -947.0 416.0 -1152.1 -957.6 12

 13 FA906000105 Nonfinancial 126.9 52.8 -18.0 27.3 12.2 -80.1 -31.4 104.9 -5.1 13

 Nonfinancial components (sign reversed):

 14 FA087005005 Statistical discrepancy (NIPA) -131.4 -58.0 12.8 -32.5 -17.4 75.0 26.2 -110.2 0.1 14

 15 FA156600075 Contr. for govt. soc. insur., U.S. affiliated areas 5.2 5.2 5.2 5.2 5.2 5.1 5.2 5.3 5.0 15
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L.100 Domestic Nonfinancial Sectors (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL384090005 Total financial assets 113433.5 114520.9 128257.4 120572.2 122520.2 124166.8 128257.4 121197.7 130633.2 1

 2 FL313011005 U.S. official reserve assets 91.0 93.9 97.8 93.6 96.4 96.2 97.8 96.4 102.1 2

 3 FL383091005 Foreign deposits 255.7 148.3 157.6 149.0 159.7 141.9 157.6 172.7 203.8 3

 4 FL383020005 Checkable deposits and currency 2925.2 3254.6 3397.6 3164.5 3062.7 3253.0 3397.6 3929.8 5942.3 4

 5 FL383030005 Time and savings deposits 10812.6 11302.0 11930.6 11506.3 11550.9 11729.7 11930.6 12448.8 13170.3 5

 6 FL383034005 Money market fund shares 2239.0 2389.4 2903.4 2427.7 2537.1 2738.5 2903.4 3488.1 3736.4 6

 7 FL382051005 Security repurchase agreements 196.1 165.5 166.4 163.7 155.9 159.2 166.4 170.5 176.2 7

 8 FL384022005 Debt securities 6281.0 7007.1 7720.2 7120.9 7510.2 7622.0 7720.2 7568.2 7499.0 8

 9 FL383069105 Open market paper 198.0 233.7 318.4 231.1 262.0 312.3 318.4 324.0 320.1 9

 10 FL383061105 Treasury securities 2004.3 2553.7 2948.2 2779.1 2859.7 2907.7 2948.2 2685.7 2823.7 10

 11 FL383061705 Agency- and GSE-backed securities 957.7 1118.8 1231.8 1122.1 1168.9 1178.7 1231.8 1275.8 962.3 11

 12 FL383062005 Municipal securities 1931.8 1903.5 1942.3 1940.2 1947.1 1939.3 1942.3 1929.1 1948.6 12

 13 FL383063005 Corporate and foreign bonds 1189.3 1197.4 1279.4 1048.3 1272.5 1284.0 1279.4 1353.6 1444.2 13

 14 FL384023005 Loans 2749.4 2824.9 2934.8 2852.3 2853.1 2924.9 2934.8 3100.1 3199.0 14

 15 FL383069005 Other loans and advances 1002.2 1003.2 1035.4 999.3 1006.5 1039.7 1035.4 1178.2 1269.6 15

 16 FL383065005 Mortgages 527.1 514.5 512.9 514.7 500.2 506.9 512.9 506.3 509.6 16

 17 FL383066005 Consumer credit 1220.2 1307.2 1386.5 1338.3 1346.4 1378.3 1386.5 1415.6 1419.8 17

 18 LM383064105 Corporate equities 20411.2 18521.2 23802.4 21541.3 21930.3 22109.8 23802.4 18016.2 21931.1 18

 19 LM383064205 Mutual fund shares 9038.4 8352.7 10457.5 9393.4 9734.8 9777.2 10457.5 8550.8 9927.7 19

 20 FL383070005 Trade receivables 4443.9 4947.9 5099.0 5006.8 5096.4 5117.4 5099.0 5040.6 5037.4 20

 21 FL153040005 Life insurance reserves 1626.6 1659.1 1731.3 1689.0 1702.5 1718.8 1731.3 1709.2 1736.1 21

 22 FL153050005 Pension entitlements 25900.2 25743.9 27745.0 26614.4 26992.9 27166.5 27745.0 26498.6 27719.4 22

 23 FL383078005 Taxes payable 354.0 399.5 541.6 441.7 397.4 545.3 541.6 577.0 614.7 23

 24 LM152090205 Equity in noncorporate business 11089.8 11556.5 12338.4 11755.1 12047.9 12261.8 12338.4 12410.8 12424.3 24

 25 LM103092005 U.S. direct investment abroad 6722.7 5438.6 6514.5 5943.1 6178.3 6070.9 6514.5 4968.1 5770.6 25

 26 FL383090005 Miscellaneous assets 8296.6 10715.9 10719.5 10709.5 10513.8 10733.7 10719.5 12451.8 11442.9 26

 27 FL384190005 Total liabilities 75789.3 79498.6 85017.9 81477.9 82160.5 83385.7 85017.9 85429.4 90073.5 27

 28 LM313111303 U.S. official reserve assets 50.3 49.1 48.8 49.0 49.1 48.1 48.8 48.2 48.6 28

 29 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 29

 30 FL313112003 Treasury currency 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 30

 31 FL384122005 Debt securities 25942.7 27438.2 28878.5 27634.2 27601.3 28429.5 28878.5 29603.5 32822.6 31

 32 FL103169100 Open market paper 206.7 196.5 194.5 241.1 236.6 216.3 194.5 243.1 166.1 32

 33 FL313161105 Treasury securities 16430.9 17842.1 19018.7 17906.3 17814.3 18571.7 19018.7 19518.4 22370.7 33

 34 FL313161705 Agency- and GSE-backed securities 24.4 22.9 21.2 22.2 22.0 21.5 21.2 21.2 21.0 34

 35 FL383162005 Municipal securities 3898.2 3840.9 3860.8 3838.3 3823.4 3820.5 3860.8 3866.5 3885.9 35

 36 FL103163003 Corporate and foreign bonds 5382.6 5535.8 5783.2 5626.4 5705.0 5799.5 5783.2 5954.3 6379.0 36

 37 FL384123005 Loans 23335.2 24455.9 25454.7 24812.2 25083.1 25176.4 25454.7 26103.7 26357.0 37

 38 FL383168005 Depository institution loans n.e.c. 2607.0 2818.5 2875.8 2830.9 2869.1 2853.9 2875.8 3326.2 3455.4 38

 39 FL383169005 Other loans and advances 2265.2 2436.4 2614.8 2693.6 2738.4 2569.3 2614.8 2724.5 2762.1 39

 40 FL383165005 Mortgages 14650.0 15202.9 15783.5 15299.2 15434.7 15635.8 15783.5 15913.2 16060.4 40

 41 FL153166000 Consumer credit 3813.0 3998.1 4180.6 3988.5 4040.9 4117.3 4180.6 4139.9 4079.1 41

 42 FL383170005 Trade payables 4580.6 5089.6 5309.1 5115.4 5190.3 5263.1 5309.1 5256.3 5278.4 42

 43 FL313140003 Life insurance reserves 51.1 51.3 52.2 51.8 51.7 52.1 52.2 52.0 52.0 43

 44 FL143178005 Taxes payable 414.4 410.2 400.2 421.8 391.3 403.6 400.2 428.9 470.0 44

 45 LM143192005 Foreign direct investment in U.S. 6571.1 6274.3 8177.3 7080.7 7363.2 7460.1 8177.3 6635.9 8110.9 45

 46 FL383190005 Miscellaneous liabilities 14813.4 15699.4 16666.7 16282.2 16399.9 16522.3 16666.7 17270.2 16903.5 46

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

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL154090005 Total financial assets 84554.4 83791.6 95027.8 89061.2 90790.0 91637.1 95027.8 87395.1 94548.4 1

 2 LM153091003 Foreign deposits 39.1 42.0 41.0 41.3 39.8 39.7 41.0 50.4 50.2 2

 3 FL153020005 Checkable deposits and currency 1295.0 1200.0 1230.1 1295.7 1147.6 996.4 1230.1 1369.6 1826.9 3

 4 FL153030005 Time and savings deposits 9233.8 9631.0 10164.0 9803.3 9830.0 10003.9 10164.0 10524.2 11168.7 4

 5 FL153034005 Money market fund shares 1617.9 1795.9 2204.3 1825.2 1912.1 2072.8 2204.3 2418.2 2615.3 5

 6 LM154022005 Debt securities 4467.6 5208.9 5801.1 5318.7 5750.2 5780.8 5801.1 5621.8 5382.4 6

 7 LM153061105 Treasury securities 1132.4 1708.8 2080.8 1932.0 2056.4 2087.8 2080.8 1792.3 1814.1 7

 8 LM153061705 Agency- and GSE-backed securities 451.9 631.1 736.1 631.4 699.5 699.9 736.1 773.5 443.4 8

 9 LM153062005 Municipal securities 1892.5 1863.1 1900.3 1899.3 1906.5 1898.1 1900.3 1887.8 1905.4 9

 10 LM153063005 Corporate and foreign bonds 990.8 1005.9 1083.9 856.0 1087.8 1094.9 1083.9 1168.3 1219.5 10

 11 FL154023005 Loans 903.0 882.1 890.1 869.9 872.0 901.4 890.1 1032.3 1005.9 11

 12 FL153069005 Other loans and advances (2) 786.2 782.2 804.4 773.6 779.4 812.4 804.4 950.7 928.5 12

 13 FL153065005 Mortgages 81.6 68.7 58.0 66.0 63.3 60.6 58.0 55.1 51.7 13

 14 FL163066223 Consumer credit (student loans) 35.2 31.3 27.7 30.3 29.3 28.4 27.7 26.5 25.7 14

 15 LM153064105 Corporate equities (3) 18278.2 16559.2 21287.4 19327.4 19634.9 19789.2 21287.4 16000.7 19518.7 15

 16 LM153064205 Mutual fund shares 8654.8 8005.8 10038.6 9011.4 9340.4 9380.8 10038.6 8197.4 9519.1 16

 17 FL163070005 Trade receivables 255.4 262.1 269.7 264.0 265.9 267.8 269.7 271.7 278.4 17

 18 FL153040005 Life insurance reserves 1626.6 1659.1 1731.3 1689.0 1702.5 1718.8 1731.3 1709.2 1736.1 18

 19 FL153050005 Pension entitlements (4) 25900.2 25743.9 27745.0 26614.4 26992.9 27166.5 27745.0 26498.6 27719.4 19

 20 FL593073005 Claims of pension fund on sponsor 6020.6 6703.7 6007.9 6429.5 6320.1 6284.3 6007.9 6927.4 6149.9 20

 21 FL153050025 Funded pension entitlements 19879.7 19040.2 21737.1 20184.9 20672.8 20882.2 21737.1 19571.2 21569.5 21

 22 LM152090205 Equity in noncorporate business 11089.8 11556.5 12338.4 11755.1 12047.9 12261.8 12338.4 12410.8 12424.3 22

 23 FL153090005 Miscellaneous assets 1193.0 1245.1 1286.9 1245.7 1253.8 1257.3 1286.9 1290.1 1303.0 23

 24 FL154190005 Total liabilities 15389.5 15876.7 16377.4 15874.8 16041.8 16213.4 16377.4 16450.4 16479.8 24

 25 FL163162003 Debt securities (municipal securities) 218.7 216.4 213.2 215.4 214.7 214.3 213.2 210.3 208.0 25

 26 FL154123005 Loans 14781.9 15260.3 15754.6 15255.9 15422.3 15591.3 15754.6 15825.9 15856.6 26

 27 FL153165105 One-to-four-family residential mortgages (5) 9914.4 10185.1 10454.9 10212.1 10290.6 10386.0 10454.9 10511.5 10592.4 27

 28 FL153166000 Consumer credit 3813.0 3998.1 4180.6 3988.5 4040.9 4117.3 4180.6 4139.9 4079.1 28

 29 FL153168005 Depository institution loans n.e.c. (6) 299.1 337.0 344.8 322.6 337.0 332.2 344.8 383.7 378.9 29

 30 FL153169005 Other loans and advances 495.9 471.0 495.9 461.3 480.0 479.7 495.9 510.1 523.4 30

 31 FL163165505 Commercial mortgages 259.4 269.1 278.4 271.4 273.7 276.1 278.4 280.7 282.9 31

 32 FL163170005 Trade payables 355.9 365.0 373.1 367.0 369.1 371.1 373.1 375.1 377.2 32

 33 FL543077073 Deferred and unpaid life insurance premiums 33.1 35.0 36.5 36.4 35.7 36.6 36.5 39.0 38.1 33

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

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

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

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

(5) Includes loans made under home equity lines of credit and home equity loans secured by junior liens (table L.218, line 23).

(6) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF I).
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L.102 Nonfinancial Business (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL144090005 Total financial assets 23455.0 24998.1 27091.5 25721.2 26107.5 26541.2 27091.5 27578.2 28148.4 1

 2 FL103091003 Foreign deposits 216.6 106.3 116.6 107.7 119.8 102.2 116.6 122.3 153.6 2

 3 FL143020005 Checkable deposits and currency 1257.7 1515.9 1621.3 1399.6 1519.1 1742.0 1621.3 1898.9 2222.7 3

 4 FL143030005 Time and savings deposits 1181.4 1265.5 1341.2 1295.8 1312.8 1313.0 1341.2 1492.3 1569.9 4

 5 FL143034005 Money market fund shares 599.3 573.7 672.6 581.8 602.8 641.3 672.6 1038.2 1087.2 5

 6 FL102051003 Security repurchase agreements 39.6 14.6 12.2 12.1 10.3 10.2 12.2 24.4 29.3 6

 7 LM144022005 Debt securities 311.1 334.1 414.6 336.2 362.0 406.6 414.6 457.4 474.2 7

 8 FL103069100 Commercial paper 123.7 162.1 245.2 159.2 192.9 241.6 245.2 254.7 249.5 8

 9 LM143061105 Treasury securities 140.3 128.8 127.1 132.5 126.6 123.8 127.1 153.3 174.9 9

 10 LM103061703 Agency- and GSE-backed securities 23.8 18.1 16.0 19.0 16.7 15.3 16.0 23.0 22.8 10

 11 LM143062005 Municipal securities 23.3 25.1 26.3 25.5 25.7 26.0 26.3 26.4 27.0 11

 12 FL144023005 Loans 119.6 125.5 128.9 125.4 126.6 128.0 128.9 135.3 137.3 12

 13 FL143065005 Mortgages 80.2 85.9 89.2 87.0 87.9 89.1 89.2 96.8 98.6 13

 14 FL143066005 Consumer credit 39.4 39.6 39.6 38.5 38.7 38.9 39.6 38.5 38.7 14

 15 LM103064103 Corporate equities 1948.3 1791.2 2308.7 2025.3 2102.0 2127.1 2308.7 1847.0 2215.5 15

 16 LM103064203 Mutual fund shares 303.0 270.9 327.3 298.4 308.2 309.8 327.3 276.2 319.4 16

 17 FL143070005 Trade receivables 3916.1 4375.3 4510.1 4431.8 4514.2 4529.9 4510.1 4454.8 4452.8 17

 18 LM103092005 U.S. direct investment abroad 6722.7 5438.6 6514.5 5943.1 6178.3 6070.9 6514.5 4968.1 5770.6 18

 19 FL143090005 Miscellaneous assets 6839.6 9186.4 9123.6 9164.1 8951.3 9160.3 9123.6 10863.3 9716.0 19

 20 FL144190005 Total liabilities 33286.4 34762.6 38780.8 36531.6 37152.7 37657.2 38780.8 38022.1 40050.6 20

 21 FL104122005 Debt securities 6156.1 6294.9 6554.6 6432.7 6510.5 6585.1 6554.6 6777.0 7125.5 21

 22 FL103169100 Commercial paper 206.7 196.5 194.5 241.1 236.6 216.3 194.5 243.1 166.1 22

 23 FL103162000 Municipal securities 566.8 562.7 576.9 565.3 568.9 569.3 576.9 579.5 580.5 23

 24 FL103163003 Corporate bonds 5382.6 5535.8 5783.2 5626.4 5705.0 5799.5 5783.2 5954.3 6379.0 24

 25 FL144123005 Loans 8382.7 9175.5 9663.2 9320.7 9423.5 9541.1 9663.2 10241.0 10479.0 25

 26 FL143168005 Depository institution loans n.e.c. 2307.8 2481.5 2531.1 2508.2 2532.1 2521.8 2531.1 2942.5 3076.5 26

 27 FL143169005 Other loans and advances 1598.7 1945.3 2082.0 1996.7 2021.1 2045.6 2082.0 2177.5 2217.4 27

 28 FL143165005 Mortgages 4476.2 4748.7 5050.2 4815.8 4870.3 4973.7 5050.2 5121.0 5185.1 28

 29 FL143170005 Trade payables 2962.9 3357.8 3502.6 3361.7 3419.7 3476.2 3502.6 3434.5 3292.1 29

 30 FL143178005 Taxes payable 414.4 410.2 400.2 421.8 391.3 403.6 400.2 428.9 470.0 30

 31 LM143192005 Foreign direct investment in U.S. 6571.1 6274.3 8177.3 7080.7 7363.2 7460.1 8177.3 6635.9 8110.9 31

 32 FL143190005 Miscellaneous liabilities 8799.2 9249.9 10482.8 9914.0 10044.5 10191.1 10482.8 10504.8 10573.1 32

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

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL104090005 Total financial assets 18000.6 19128.1 20850.8 19760.9 20066.6 20394.6 20850.8 21134.7 21462.9 1

 2 FL103091003 Foreign deposits 216.6 106.3 116.6 107.7 119.8 102.2 116.6 122.3 153.6 2

 3 FL103020000 Checkable deposits and currency 951.7 1189.7 1272.3 1067.8 1182.3 1398.8 1272.3 1493.0 1757.2 3

 4 FL103030003 Time and savings deposits 181.3 187.2 196.1 201.2 203.8 184.8 196.1 271.4 291.7 4

 5 FL103034000 Money market fund shares 499.5 466.1 558.3 472.6 492.2 528.7 558.3 916.4 962.2 5

 6 FL102051003 Security repurchase agreements 39.6 14.6 12.2 12.1 10.3 10.2 12.2 24.4 29.3 6

 7 LM104022005 Debt securities 236.0 253.2 328.7 254.1 278.8 322.0 328.7 365.8 380.1 7

 8 FL103069100 Commercial paper 123.7 162.1 245.2 159.2 192.9 241.6 245.2 254.7 249.5 8

 9 LM103061103 Treasury securities 71.3 54.4 48.1 57.0 50.1 45.9 48.1 69.0 88.4 9

 10 LM103061703 Agency- and GSE-backed securities 23.8 18.1 16.0 19.0 16.7 15.3 16.0 23.0 22.8 10

 11 LM103062003 Municipal securities 17.2 18.5 19.3 18.9 19.1 19.2 19.3 19.1 19.4 11

 12 FL104023005 Loans 71.6 73.8 74.0 72.9 73.4 73.9 74.0 76.7 77.2 12

 13 FL103065003 Mortgages 32.2 34.2 34.3 34.5 34.7 35.0 34.3 38.3 38.5 13

 14 FL103066005 Consumer credit 39.4 39.6 39.6 38.5 38.7 38.9 39.6 38.5 38.7 14

 15 LM103064103 Corporate equities 1948.3 1791.2 2308.7 2025.3 2102.0 2127.1 2308.7 1847.0 2215.5 15

 16 LM103064203 Mutual fund shares 303.0 270.9 327.3 298.4 308.2 309.8 327.3 276.2 319.4 16

 17 FL103070005 Trade receivables 3113.2 3509.6 3590.8 3553.0 3623.8 3624.2 3590.8 3524.7 3455.2 17

 18 LM103092005 U.S. direct investment abroad (1) 6722.7 5438.6 6514.5 5943.1 6178.3 6070.9 6514.5 4968.1 5770.6 18

 19 FL103090005 Miscellaneous assets 3717.2 5827.0 5551.4 5752.8 5493.7 5642.1 5551.4 7248.6 6050.9 19

 20 FL103076005 Insurance receivables 365.6 377.0 392.0 378.6 383.7 385.9 392.0 394.9 402.5 20

 21 FL103092405 Equity in GSEs 1.2 1.2 1.3 1.3 1.3 1.2 1.3 1.4 1.3 21

 22 FL103094105 Investment in finance company affiliates 110.7 113.2 112.5 114.7 112.7 112.1 112.5 111.3 108.4 22

 23 FL103093005 Other 3239.7 5335.6 5045.6 5258.2 4996.0 5142.8 5045.6 6741.1 5538.8 23

 24 FL104190005 Total liabilities 25316.2 26263.3 29875.1 27928.9 28457.8 28837.1 29875.1 28918.3 30696.8 24

 25 FL104122005 Debt securities 6156.1 6294.9 6554.6 6432.7 6510.5 6585.1 6554.6 6777.0 7125.5 25

 26 FL103169100 Commercial paper 206.7 196.5 194.5 241.1 236.6 216.3 194.5 243.1 166.1 26

 27 FL103162000 Municipal securities (2) 566.8 562.7 576.9 565.3 568.9 569.3 576.9 579.5 580.5 27

 28 FL103163003 Corporate bonds (1) 5382.6 5535.8 5783.2 5626.4 5705.0 5799.5 5783.2 5954.3 6379.0 28

 29 FL104123005 Loans 2840.0 3300.4 3498.5 3377.5 3414.9 3454.7 3498.5 3923.8 3915.0 29

 30 FL103168005 Depository institution loans n.e.c. 920.5 990.4 1011.1 1001.8 1011.0 1007.0 1011.1 1337.5 1331.0 30

 31 FL103169005 Other loans and advances (3) 1388.7 1726.9 1855.7 1776.8 1800.1 1826.8 1855.7 1945.6 1934.1 31

 32 FL103165005 Mortgages 530.9 583.1 631.7 599.0 603.8 620.8 631.7 640.7 649.9 32

 33 FL103170005 Trade payables 2369.7 2690.4 2773.3 2678.9 2724.7 2758.9 2773.3 2688.3 2589.4 33

 34 FL103178005 Taxes payable 277.2 266.7 251.2 276.9 245.3 255.9 251.2 273.7 297.1 34

 35 LM103192005 Foreign direct investment in U.S. 6539.9 6215.8 8145.2 7022.1 7307.6 7402.7 8145.2 6609.7 8080.0 35

 36 FL103190005 Miscellaneous liabilities 7133.3 7495.1 8652.3 8140.8 8254.9 8379.8 8652.3 8645.7 8689.8 36

 37 FL573074005 Pension fund contributions payable 119.3 84.7 83.8 83.2 88.7 86.1 83.8 91.2 93.2 37

 38 FL573073005 Claims of pension fund on sponsor 326.7 590.0 175.7 394.8 297.8 288.2 175.7 514.5 168.3 38

 39 FL103193005 Other 6687.4 6820.4 8392.8 7662.8 7868.4 8005.5 8392.8 8040.0 8428.3 39

 Memo:

 40 LM103164103 Market value of equities 29075.4 26826.8 34066.5 30769.7 31561.6 31659.4 34066.5 26883.4 33506.7 40

 41 FL104001005 Total liquid assets (4) 4375.9 4279.1 5120.2 4439.2 4697.4 4983.5 5120.2 5316.6 6109.0 41

 42 FL104150005 Total short-term liabilities (5) 5162.7 5870.8 6085.8 5975.4 6017.6 6064.9 6085.8 6488.3 6317.7 42

 43 FL104001006 Liquid assets/short-term liabilities (percent) 84.76 72.89 84.13 74.29 78.06 82.17 84.13 81.94 96.70 43

 44 FL104140006 Short-term debt/total debt (percent) (6) 27.97 30.37 30.45 30.78 30.71 30.38 30.45 32.95 31.08 44

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

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

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

(4) Sum of lines 2 through 7 and lines 15 and 16.

(5) Sum of lines 26, 30, 31, 33, and 34. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(6) Short-term debt is the sum of lines 26, 30, and 31. Total debt is the sum of lines 25 and 29.
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L.104 Nonfinancial Noncorporate Business

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL114090005 Total financial assets 5454.3 5870.0 6240.7 5960.3 6040.9 6146.6 6240.7 6443.6 6685.6 1

 2 FL113020005 Checkable deposits and currency 306.0 326.2 349.0 331.8 336.8 343.2 349.0 405.9 465.5 2

 3 FL113030003 Time and savings deposits 1000.1 1078.4 1145.1 1094.6 1109.0 1128.1 1145.1 1220.9 1278.2 3

 4 FL113034003 Money market fund shares 99.8 107.6 114.2 109.2 110.7 112.6 114.2 121.8 125.0 4

 5 LM114022005 Debt securities 75.1 80.9 85.9 82.1 83.2 84.7 85.9 91.6 94.0 5

 6 LM113061003 Treasury securities 69.0 74.4 79.0 75.5 76.5 77.9 79.0 84.3 86.5 6

 7 LM113062003 Municipal securities 6.0 6.5 6.9 6.6 6.7 6.8 6.9 7.4 7.6 7

 8 FL114023005 Loans 48.0 51.7 54.9 52.5 53.2 54.1 54.9 58.5 60.1 8

 9 FL113065005 Mortgages 48.0 51.7 54.9 52.5 53.2 54.1 54.9 58.5 60.1 9

 10 FL113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FL113070005 Trade receivables 802.9 865.8 919.3 878.8 890.4 905.7 919.3 930.2 997.6 11

 12 FL113090005 Miscellaneous assets 3122.5 3359.4 3572.3 3411.3 3457.6 3518.2 3572.3 3614.6 3665.0 12

 13 FL113076005 Insurance receivables 120.4 119.0 129.0 120.8 123.7 126.1 129.0 130.1 132.6 13

 14 FL113092405 Equity investment in GSEs (1) 12.3 12.5 12.8 12.5 12.6 12.8 12.8 12.6 12.8 14

 15 FL113093005 Other 2989.8 3227.9 3430.5 3278.0 3321.3 3379.4 3430.5 3471.9 3519.6 15

 16 FL114190005 Total liabilities 7970.1 8499.4 8905.7 8602.7 8695.0 8820.1 8905.7 9103.8 9353.8 16

 17 FL114123005 Loans 5542.7 5875.1 6164.7 5943.2 6008.6 6086.4 6164.7 6317.1 6564.0 17

 18 FL113168005 Depository institution loans n.e.c. 1387.3 1491.1 1519.9 1506.4 1521.1 1514.7 1519.9 1605.0 1745.5 18

 19 FL113169005 Other loans and advances 210.0 218.4 226.3 220.0 220.9 218.8 226.3 231.9 283.2 19

 20 FL113165005 Mortgages 3945.3 4165.6 4418.5 4216.8 4266.6 4352.9 4418.5 4480.3 4535.2 20

 21 FL113170005 Trade payables 593.3 667.4 729.3 682.8 695.1 717.4 729.3 746.2 702.7 21

 22 FL113178003 Taxes payable 137.2 143.6 149.0 144.9 146.1 147.6 149.0 155.2 172.9 22

 23 LM115114005 Foreign direct investment in U.S. 31.2 58.5 32.1 58.6 55.6 57.4 32.1 26.1 30.9 23

 24 FL113193003 Miscellaneous liabilities 1665.9 1754.7 1830.5 1773.2 1789.6 1811.3 1830.5 1859.1 1883.4 24

(1) Equity in the Farm Credit System.
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82 Z.1, September 21, 2020

L.105 General Government (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL364090005 Total financial assets 5424.1 5731.2 6138.2 5789.7 5622.7 5988.5 6138.2 6224.4 7936.4 1

 2 FL313011005 U.S. official reserve assets 91.0 93.9 97.8 93.6 96.4 96.2 97.8 96.4 102.1 2

 3 FL363020005 Checkable deposits and currency 372.5 538.8 546.3 469.2 396.0 514.6 546.3 661.3 1892.8 3

 4 FL363030005 Time and savings deposits 397.4 405.4 425.5 407.2 408.2 412.8 425.5 432.3 431.7 4

 5 FL213034003 Money market fund shares 21.9 19.8 26.5 20.7 22.1 24.5 26.5 31.7 33.9 5

 6 FL212051003 Security repurchase agreements 156.5 151.0 154.2 151.6 145.6 149.0 154.2 146.1 146.9 6

 7 FL364022005 Debt securities 1502.2 1464.1 1504.4 1465.9 1398.0 1434.5 1504.4 1488.9 1642.4 7

 8 FL213069103 Open market paper 74.2 71.6 73.1 71.9 69.1 70.7 73.1 69.3 70.6 8

 9 FL213061105 Treasury securities 731.6 716.0 740.3 714.5 676.7 696.1 740.3 740.1 834.7 9

 10 FL363061705 Agency- and GSE-backed securities 482.0 469.6 479.7 471.7 452.7 463.5 479.7 479.3 496.1 10

 11 FL213062003 Municipal securities 16.0 15.4 15.7 15.5 14.8 15.2 15.7 14.9 16.3 11

 12 FL363063005 Corporate and foreign bonds 198.5 191.5 195.6 192.4 184.7 189.1 195.6 185.3 224.7 12

 13 FL364023005 Loans 1726.8 1817.2 1915.8 1857.0 1854.5 1895.5 1915.8 1932.5 2055.8 13

 14 FL363065005 Mortgages 365.3 360.0 365.6 361.8 349.0 357.2 365.6 354.5 359.2 14

 15 FL313066220 Consumer credit 1145.6 1236.3 1319.2 1269.6 1278.3 1311.0 1319.2 1350.6 1355.4 15

 16 FL313069005 Other loans and advances 216.0 221.0 231.0 225.6 227.1 227.3 231.0 227.5 341.2 16

 17 LM363064105 Corporate equities 184.7 170.9 206.3 188.6 193.3 193.5 206.3 168.5 196.8 17

 18 LM213064203 Mutual fund shares 80.7 75.9 91.5 83.6 86.2 86.6 91.5 77.2 89.2 18

 19 FL363070005 Trade receivables 272.4 310.5 319.2 311.1 316.3 319.7 319.2 314.2 306.1 19

 20 FL363078005 Taxes receivable 354.0 399.5 541.6 441.7 397.4 545.3 541.6 577.0 614.7 20

 21 FL363090005 Miscellaneous assets 264.0 284.3 309.0 299.7 308.7 316.2 309.0 298.4 424.0 21

 22 FL364190005 Total liabilities 27113.4 28859.3 29859.8 29071.5 28965.9 29515.1 29859.8 30956.8 33543.0 22

 23 LM313111303 SDR allocations 50.3 49.1 48.8 49.0 49.1 48.1 48.8 48.2 48.6 23

 24 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 24

 25 FL313112003 Treasury currency 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25

 26 FL364122005 Debt securities 19567.9 20926.9 22110.7 20986.1 20876.1 21630.0 22110.7 22616.2 25489.2 26

 27 FL313161105 Treasury securities 16430.9 17842.1 19018.7 17906.3 17814.3 18571.7 19018.7 19518.4 22370.7 27

 28 FL313161705 Budget agency securities 24.4 22.9 21.2 22.2 22.0 21.5 21.2 21.2 21.0 28

 29 FL213162005 Municipal securities 3112.7 3061.9 3070.8 3057.7 3039.8 3036.8 3070.8 3076.6 3097.5 29

 30 FL364123005 Loans 170.6 20.1 36.9 235.6 237.3 43.9 36.9 36.9 21.4 30

 31 FL313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FL363169005 Other loans and advances 170.6 20.1 36.9 235.6 237.3 43.9 36.9 36.9 21.4 32

 33 FL363170005 Trade payables 1261.8 1366.9 1433.3 1386.7 1401.5 1415.7 1433.3 1446.7 1609.1 33

 34 FL313140003 Insurance reserves 51.1 51.3 52.2 51.8 51.7 52.1 52.2 52.0 52.0 34

 35 FL363190005 Miscellaneous liabilities 5981.1 6414.6 6147.3 6331.7 6319.7 6294.7 6147.3 6726.3 6292.3 35

 Memo:

 36 FL374090005 Total financial assets (consolidated) (2) 4657.7 4979.7 5361.1 5039.5 4910.6 5256.4 5361.1 5448.1 7064.1 36

 37 FL374190005 Total liabilities (consolidated) (2) 26347.0 28107.8 29082.7 28321.2 28253.8 28783.0 29082.7 30180.6 32670.7 37

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

(2) Excludes Treasury securities and municipal securities held by state and local governments (lines 9 and 11) and federal government loans to state and local governments (line 32).
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L.106 Federal Government

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL314090005 Total financial assets 2301.7 2640.0 2881.0 2653.5 2551.4 2853.4 2881.0 3056.9 4542.3 1

 2 FL313011005 U.S. official reserve assets 91.0 93.9 97.8 93.6 96.4 96.2 97.8 96.4 102.1 2

 3 FL313020005 Checkable deposits and currency 232.0 405.9 407.2 337.9 267.0 386.0 407.2 518.9 1725.4 3

 4 FL313030003 Time and savings deposits 1.9 2.0 2.3 2.1 2.3 2.6 2.3 1.9 2.1 4

 5 FL314022005 Debt securities 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 5

 6 FL313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FL313063763 Corporate and foreign bonds 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 7

 8 FL314023005 Loans 1481.4 1580.5 1674.0 1619.1 1626.2 1661.8 1674.0 1703.4 1823.3 8

 9 FL313069005 Other loans and advances 216.0 221.0 231.0 225.6 227.1 227.3 231.0 227.5 341.2 9

 10 FL313065005 Mortgages 119.8 123.2 123.8 123.9 120.7 123.5 123.8 125.3 126.7 10

 11 FL313066220 Consumer credit (1) 1145.6 1236.3 1319.2 1269.6 1278.3 1311.0 1319.2 1350.6 1355.4 11

 12 LM313064105 Corporate equities (2) 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 12

 13 FL313070000 Trade receivables 65.0 75.4 74.1 75.8 76.9 76.4 74.1 73.7 75.6 13

 14 FL313078000 Taxes receivable 203.0 239.8 376.2 280.6 235.1 381.5 376.2 410.2 446.3 14

 15 FL313090005 Miscellaneous assets 193.8 208.7 215.7 210.7 213.8 215.2 215.7 218.7 333.8 15

 16 FL314190005 Total liabilities 19011.1 20284.1 21470.5 20625.6 20633.4 21084.7 21470.5 21998.6 25013.2 16

 17 LM313111303 SDR allocations 50.3 49.1 48.8 49.0 49.1 48.1 48.8 48.2 48.6 17

 18 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 18

 19 FL313112003 Treasury currency 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 19

 20 FL314122005 Debt securities 16455.3 17865.0 19039.9 17928.5 17836.3 18593.1 19039.9 19539.6 22391.7 20

 21 FL313161105 Treasury securities (3) 16430.9 17842.1 19018.7 17906.3 17814.3 18571.7 19018.7 19518.4 22370.7 21

 22 FL313161205 Marketable 14434.6 15566.2 16628.9 15888.7 15884.3 16303.7 16628.9 17115.8 19867.0 22

 23 FL313161305 Nonmarketable 1996.3 2275.9 2389.8 2017.6 1930.0 2268.0 2389.8 2402.6 2503.6 23

 24 FL313161705 Budget agency securities 24.4 22.9 21.2 22.2 22.0 21.5 21.2 21.2 21.0 24

 25 FL314123005 Loans 151.7 0.0 15.8 215.3 216.7 23.1 15.8 15.7 0.0 25

 26 FL313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FL313169003 Other loans and advances 151.7 0.0 15.8 215.3 216.7 23.1 15.8 15.7 0.0 27

 28 FL313170005 Trade payables 308.2 365.2 382.2 372.8 375.3 377.1 382.2 383.0 533.4 28

 29 FL313140003 Insurance reserves 51.1 51.3 52.2 51.8 51.7 52.1 52.2 52.0 52.0 29

 30 FL313190005 Miscellaneous liabilities 1964.0 1922.9 1901.0 1977.7 2073.8 1960.5 1901.0 1929.6 1956.9 30

 31 FL343073045 Claims of pension fund on sponsor 1676.8 1622.1 1585.8 1680.6 1776.4 1661.9 1585.8 1616.1 1646.2 31

 32 FL313190015 Other 287.2 300.9 315.2 297.1 297.4 298.6 315.2 313.4 310.7 32

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

 the government purchased from depository institutions and finance companies.

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

(3) Includes marketable and nonmarketable Treasury securities held by the public and Treasury securities held by federal government employee retirement funds.
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L.107 State and Local Governments

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL214090005 Total financial assets 3122.4 3091.3 3257.2 3136.3 3071.3 3135.1 3257.2 3167.5 3394.1 1

 2 FL213020005 Checkable deposits and currency 140.6 132.9 139.1 131.3 129.0 128.6 139.1 142.3 167.3 2

 3 FL213030000 Time and savings deposits 395.5 403.4 423.2 405.1 405.8 410.2 423.2 430.3 429.6 3

 4 FL213034003 Money market fund shares 21.9 19.8 26.5 20.7 22.1 24.5 26.5 31.7 33.9 4

 5 FL212051003 Security repurchase agreements 156.5 151.0 154.2 151.6 145.6 149.0 154.2 146.1 146.9 5

 6 LM214022005 Debt securities 1501.8 1463.6 1503.9 1465.4 1397.5 1434.1 1503.9 1488.4 1641.9 6

 7 FL213069103 Open market paper 74.2 71.6 73.1 71.9 69.1 70.7 73.1 69.3 70.6 7

 8 LM213061105 Treasury securities 731.6 716.0 740.3 714.5 676.7 696.1 740.3 740.1 834.7 8

 9 LM213061703 Agency- and GSE-backed securities 482.0 469.6 479.7 471.7 452.7 463.5 479.7 479.2 496.1 9

 10 LM213062003 Municipal securities 16.0 15.4 15.7 15.5 14.8 15.2 15.7 14.9 16.3 10

 11 LM213063003 Corporate and foreign bonds 198.0 191.0 195.1 191.9 184.2 188.6 195.1 184.9 224.2 11

 12 FL213065005 Loans (mortgages) 245.5 236.8 241.8 237.8 228.3 233.7 241.8 229.1 232.5 12

 13 LM213064103 Corporate equities 151.5 137.7 173.2 155.4 160.2 160.3 173.2 135.4 163.6 13

 14 LM213064203 Mutual fund shares 80.7 75.9 91.5 83.6 86.2 86.6 91.5 77.2 89.2 14

 15 FL213070003 Trade receivables 207.4 235.0 245.2 235.3 239.4 243.3 245.2 240.4 230.6 15

 16 FL213078005 Taxes receivable 151.1 159.7 165.4 161.1 162.2 163.8 165.4 166.8 168.5 16

 17 FL213093003 Miscellaneous assets 70.2 75.6 93.2 89.0 94.9 101.0 93.2 79.7 90.2 17

 18 FL214190005 Total liabilities 8102.3 8575.2 8389.3 8445.8 8332.5 8430.4 8389.3 8958.2 8529.8 18

 19 FL213162005 Debt securities (municipal securities) 3112.7 3061.9 3070.8 3057.7 3039.8 3036.8 3070.8 3076.6 3097.5 19

 20 FL213162400 Short-term (1) 35.0 37.9 44.7 39.1 36.5 40.0 44.7 42.9 41.0 20

 21 FL213162200 Long-term 3077.6 3024.0 3026.1 3018.6 3003.3 2996.9 3026.1 3033.7 3056.5 21

 22 FL213169203 Loans (U.S. government loans) 18.9 20.1 21.1 20.3 20.6 20.8 21.1 21.2 21.4 22

 23 FL213170003 Trade payables 953.6 1001.7 1051.1 1013.8 1026.3 1038.6 1051.1 1063.7 1075.7 23

 24 FL223073045 Claims of pension fund on sponsor (2) 4017.1 4491.6 4246.3 4354.0 4245.9 4334.1 4246.3 4796.8 4335.3 24

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

(2) Included in miscellaneous liabilities.
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L.108 Domestic Financial Sectors (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL794090005 Total financial assets 99269.3 98477.8 107902.6 101949.4 103887.1 105261.2 107902.6 107683.0 114681.7 1

 2 FL713011005 U.S. official reserve assets 32.2 31.8 31.6 31.4 31.8 31.3 31.6 31.4 31.6 2

 3 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 FL713012003 Treasury currency 49.4 49.8 50.1 49.9 49.9 50.0 50.1 50.2 50.3 4

 5 FL633091003 Foreign deposits 3.7 1.5 7.4 1.5 2.2 3.9 7.4 3.8 2.1 5

 6 FL794010005 Net interbank assets 2025.4 1637.3 1631.7 1649.9 1492.2 1496.9 1631.7 2649.3 2961.8 6

 7 FL793020005 Checkable deposits and currency 491.5 398.9 459.9 374.8 446.0 444.9 459.9 766.6 634.1 7

 8 FL793030005 Time and savings deposits 293.2 296.7 356.9 325.7 361.9 350.1 356.9 349.1 338.8 8

 9 FL793034005 Money market fund shares 516.1 538.2 601.4 539.2 554.6 581.4 601.4 695.4 734.3 9

 10 FL792050005 Federal funds and security repos 2866.5 3301.2 3883.0 3342.8 3584.8 3889.8 3883.0 4158.5 3479.0 10

 11 FL794022005 Debt securities 25882.6 26189.2 28688.8 26735.5 27088.3 28195.3 28688.8 30145.8 33983.4 11

 12 FL793069175 Open market paper 632.6 637.5 596.5 723.7 712.8 625.5 596.5 649.8 560.4 12

 13 FL793061105 Treasury securities 8197.4 8863.5 9786.9 8658.3 8572.8 9319.8 9786.9 11203.2 13798.3 13

 14 FL793061705 Agency- and GSE-backed securities 6938.4 6836.3 7214.6 6940.1 7090.5 7205.8 7214.6 7620.7 7927.8 14

 15 FL793062005 Municipal securities 2093.6 1977.9 2105.7 2011.0 2042.0 2074.5 2105.7 2057.6 2126.8 15

 16 FL793063005 Corporate and foreign bonds 8020.6 7873.9 8985.0 8402.5 8670.2 8969.5 8985.0 8614.5 9570.1 16

 17 FL794023005 Loans 22791.8 23522.4 24333.9 23741.7 24053.7 24105.7 24333.9 25272.6 25046.9 17

 18 FL793068005 Depository institution loans n.e.c. 3395.5 3675.8 3818.0 3686.8 3764.5 3783.6 3818.0 4461.8 4493.0 18

 19 FL793069005 Other loans and advances 2438.5 2241.1 2226.4 2399.6 2440.4 2233.8 2226.4 2453.8 2120.1 19

 20 FL793065005 Mortgages 14365.0 14914.6 15495.5 15005.1 15154.2 15349.2 15495.5 15632.6 15774.5 20

 21 FL793066005 Consumer credit 2592.9 2691.0 2794.0 2650.2 2694.6 2739.0 2794.0 2724.3 2659.3 21

 22 LM793064105 Corporate equities 20792.3 18823.1 22985.0 20798.4 21520.4 21346.0 22985.0 18104.5 21835.3 22

 23 LM793064205 Mutual fund shares 6031.8 5518.2 6308.2 5877.3 6059.8 6050.1 6308.2 5213.5 6001.5 23

 24 FL793070005 Trade receivables 302.9 321.5 335.2 327.8 336.6 338.9 335.2 363.4 366.1 24

 25 FL793040005 Life insurance reserves 511.8 483.5 500.9 487.1 491.8 497.4 500.9 508.0 508.8 25

 26 FL543050005 Pension entitlements 91.4 191.4 199.5 193.2 195.2 198.2 199.5 207.8 206.8 26

 27 LM793092005 U.S. direct investment abroad 1142.3 937.1 1135.5 1044.1 1073.6 1065.4 1135.5 877.7 997.4 27

 28 FL793090005 Miscellaneous assets 15439.4 16230.9 16388.3 16424.0 16539.2 16610.8 16388.3 18280.4 17498.3 28

 29 FL794190005 Total liabilities 93315.1 92908.0 100732.8 95869.2 97346.3 98435.9 100732.8 101155.5 107178.0 29

 30 FL794110005 Net interbank liabilities 2165.0 1810.9 1710.9 1746.8 1548.1 1560.4 1710.9 3060.5 3207.7 30

 31 FL793120005 Checkable deposits and currency 4268.3 4583.7 4845.1 4471.4 4461.9 4670.4 4845.1 5756.1 7650.8 31

 32 FL703130005 Time and savings deposits 11670.4 12200.5 12884.0 12428.9 12520.5 12682.8 12884.0 13497.8 14177.8 32

 33 FL634090005 Money market fund shares 2848.4 3038.3 3634.3 3079.4 3205.9 3442.5 3634.3 4338.0 4635.9 33

 34 FL792150005 Federal funds and security repos 2965.5 2980.9 3205.8 2947.1 3173.4 3287.8 3205.8 3461.2 2861.0 34

 35 FL794122005 Debt securities 13927.8 14271.3 14709.1 14359.7 14521.3 14624.4 14709.1 15233.9 15289.2 35

 36 FL793169175 Open market paper 397.2 431.2 397.9 442.5 440.0 402.4 397.9 422.0 402.8 36

 37 FL423161705 Agency- and GSE-backed securities 8843.0 9090.0 9409.5 9124.3 9243.3 9322.9 9409.5 9749.7 9724.9 37

 38 FL793163005 Corporate and foreign bonds 4687.5 4750.1 4901.7 4792.9 4838.1 4899.1 4901.7 5062.2 5161.5 38

 39 FL794123005 Loans 2038.1 2027.4 1955.6 1952.5 1972.2 1975.2 1955.6 2369.5 2029.9 39

 40 FL793168005 Depository institution loans n.e.c. 301.2 310.6 310.7 308.4 306.5 310.1 310.7 421.5 352.4 40

 41 FL793169005 Other loans and advances 1494.9 1490.6 1420.0 1423.5 1446.0 1444.9 1420.0 1722.2 1453.8 41

 42 FL123165005 Mortgages 242.0 226.2 224.9 220.5 219.7 220.3 224.9 225.8 223.7 42

 43 LM653164205 Mutual fund shares 15899.0 14669.8 17659.5 16179.6 16669.6 16694.7 17659.5 14543.1 16776.1 43

 44 FL793170005 Trade payables 284.2 280.0 295.2 282.9 289.3 297.9 295.2 323.1 326.3 44

 45 FL543140005 Life insurance reserves 2008.8 2035.2 2122.4 2067.9 2085.9 2106.6 2122.4 2106.3 2134.4 45

 46 FL583150005 Pension entitlements 25977.1 25873.1 27879.7 26744.8 27124.7 27300.3 27879.7 26639.0 27859.0 46

 47 FL793178005 Taxes payable 160.3 159.6 172.5 158.0 158.4 166.8 172.5 162.4 167.9 47

 48 LM793192005 Foreign direct investment in U.S. 1185.6 1059.1 1221.1 1180.4 1224.8 1229.3 1221.1 997.8 1183.2 48

 49 FL793190005 Miscellaneous liabilities 7916.4 7917.9 8437.6 8269.8 8390.3 8396.7 8437.6 8666.8 8878.8 49

 Memo:

 50 LM793164105 Market value of corporate equities 10029.3 9247.5 11458.7 10126.3 10615.6 10693.8 11458.7 8590.8 9967.4 50

 51 LM662090003 Equity in noncorporate business 68.7 78.2 83.5 78.4 78.4 80.6 83.5 84.8 88.5 51

(1) Sum of financial sectors shown on tables L.109 through L.132.
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L.109 Monetary Authority (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL714090005 Total financial assets 4572.0 4095.9 4379.1 4063.1 4009.4 4207.8 4379.1 6179.5 7364.2 1

 2 FL713011005 U.S. official reserve assets 32.2 31.8 31.6 31.4 31.8 31.3 31.6 31.4 31.6 2

 3 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 FL713012003 Treasury currency 49.4 49.8 50.1 49.9 49.9 50.0 50.1 50.2 50.3 4

 5 FL713022003 Federal Reserve float -0.9 -0.8 -0.6 -0.8 -0.8 -0.7 -0.6 -0.7 -0.7 5

 6 FL713068705 Interbank loans 0.1 0.1 0.0 0.0 0.1 0.1 0.0 76.6 83.5 6

 7 FL713068703 Discount window (2) 0.1 0.1 0.0 0.0 0.1 0.1 0.0 49.1 7.2 7

 8 FL763069143 AMLF and MMLF loans (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27.5 11.8 8

 9 FL713068725 PPPLF loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 64.5 9

 10 FL712051000 Security repurchase agreements 0.0 0.0 255.6 0.0 0.0 202.5 255.6 262.7 58.0 10

 11 LM714022005 Debt securities (5) 4448.3 3982.6 4011.9 3953.9 3900.4 3897.9 4011.9 5312.9 6847.7 11

 12 FL713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 LM713061103 Treasury securities 2633.0 2338.0 2540.7 2330.2 2315.0 2366.5 2540.7 3757.4 4807.9 13

 14 LM713061113 Treasury bills 0.0 0.0 168.5 0.0 0.0 6.0 168.5 325.9 325.9 14

 15 LM713061125 Other Treasury securities 2633.0 2338.0 2372.3 2330.2 2315.0 2360.5 2372.3 3431.5 4481.9 15

 16 LM713061705 Agency- and GSE-backed securities 1815.3 1644.6 1471.1 1623.7 1585.3 1531.5 1471.1 1555.5 2039.9 16

 17 LM713061903 Mortgage-backed securities 1809.9 1641.4 1467.8 1620.5 1582.0 1528.1 1467.8 1551.9 2036.2 17

 18 LM713061703 Other agency- and GSE-backed securities 5.4 3.2 3.3 3.2 3.4 3.4 3.3 3.6 3.6 18

 19 FL713068005 Loans (depository institution loans n.e.c.) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.7 31.2 19

 20 FL713068813 Households (TALF I) (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL713068665 Brokers and dealers (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.7 12.1 21

 22 FL713068863 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 22

 23 FL713068505 Other financial business (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 23

 24 FL713064103 Corporate equities (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FL713090005 Miscellaneous assets 37.7 27.3 25.4 23.5 22.8 21.6 25.4 382.4 257.5 25

 26 FL713091103 Nonofficial foreign currencies (10) 12.1 4.2 3.7 1.4 0.0 1.0 3.7 357.7 226.9 26

 27 FL713093005 Other 25.7 23.1 21.7 22.1 22.8 20.6 21.7 24.7 30.6 27

 28 FL714190005 Total liabilities 4486.8 4100.2 4216.6 4000.5 3870.6 4005.3 4216.6 5786.3 6947.8 28

 29 FL713113003 Depository institution reserves 1949.0 1556.0 1548.8 1580.8 1421.5 1427.3 1548.8 2474.3 2787.0 29

 30 FL703025005 Vault cash of depository institutions 77.2 82.0 83.4 69.9 71.5 70.3 83.4 99.0 92.0 30

 31 FL713120005 Checkable deposits and currency 1858.2 2117.6 2207.3 2054.4 2001.4 2154.0 2207.3 2593.2 3792.0 31

 32 FL713123005 Due to federal government 229.1 402.4 404.0 334.3 263.9 382.7 404.0 515.6 1722.1 32

 33 FL713123023 Treasury cash holdings 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.3 0.1 33

 34 FL713123030 Treasury general deposit account 228.9 402.1 403.9 334.0 263.7 382.5 403.9 515.3 1722.0 34

 35 FL713123043 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 FL713124005 Due to government-sponsored enterprises 17.2 10.5 12.5 6.8 7.7 8.5 12.5 121.1 43.1 36

 37 FL713129005 Due to other financial business (11) 65.7 62.3 61.2 54.3 53.0 65.5 61.2 159.3 132.6 37

 38 FL713122605 Due to rest of the world 5.3 5.3 5.2 5.3 5.3 5.2 5.2 17.4 16.3 38

 39 FL713125005 Currency outside banks 1540.8 1637.2 1724.2 1653.7 1671.6 1692.1 1724.2 1779.7 1878.0 39

 40 FL712151003 Security repurchase agreements 564.0 304.0 336.6 255.3 335.4 313.4 336.6 569.1 233.0 40

 41 FL712151103 Reverse repurchase agreement operations (12) 319.6 41.8 64.1 0.7 44.3 7.1 64.1 284.9 1.0 41

 42 FL712151115 Other (13) 244.4 262.2 272.6 254.6 291.1 306.3 272.6 284.2 232.0 42

 43 FL713190005 Miscellaneous liabilities 38.5 40.6 40.4 40.0 40.9 40.3 40.4 50.8 43.8 43

 44 FL313094213 Treasury contributions to MMLF 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 44

 45 FL713164003 Federal Reserve Bank stock 31.4 32.3 31.7 32.5 32.4 32.5 31.7 32.0 32.0 45

 46 FL713193005 Other 7.1 8.2 8.7 7.5 8.5 7.8 8.7 18.8 10.2 46

 Memo:

 47 FL714022065 Amortized cost of debt securities 4368.2 3988.7 3851.3 3893.2 3763.4 3697.3 3851.3 4921.6 6433.2 47

 48 FL713061163 Treasury securities 2545.7 2302.5 2401.6 2253.0 2185.3 2186.9 2401.6 3421.1 4455.4 48

 49 FL713061765 Agency- and GSE-backed securities 1822.5 1686.3 1449.6 1640.2 1578.2 1510.4 1449.6 1500.6 1977.8 49

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

(2) Loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(3) Loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) and the

 Money Market Mutual Fund Liquidity Facility (MMLF). The AMLF was dissolved in 2010:Q1.

(4) Loans extended to depository institutions through the Paycheck Protection Program Liquidity Facility (PPPLF).

(5) Shown at estimated fair value.

(6) Loans extended to financial institutions such as domestic hedge funds through the 2008 Term Asset-Backed Securities Loan Facility (TALF I).

(7) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF), AMLF (2008-2010), and MMLF (2020).

(8) Loans extended to Federal Reserve funding, credit, and liquidity, facility special purpose vehicles created in response to the 2008 Financial Crisis and COVID-19 pandemic.

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

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. Series is zero after 2010:Q4.

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

(11) Deposits of designated financial market utilities (DFMU) and deposits of Federal Reserve facility LLC’s special purpose vehicles.

(12) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(13) Includes reverse repurchase agreements conducted through the Federal Reserve’s Foreign Repo Pool.
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L.110 Private Depository Institutions (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL704090005 Total financial assets 18833.5 19194.8 20051.8 19308.8 19511.8 19755.6 20051.8 21920.7 22780.0 1

 2 FL703025005 Vault cash 77.2 82.0 83.4 69.9 71.5 70.3 83.4 99.0 92.0 2

 3 FL713113003 Reserves at Federal Reserve 1949.0 1556.0 1548.8 1580.8 1421.5 1427.3 1548.8 2474.3 2787.0 3

 4 FL702050005 Federal funds and security repos 490.7 702.0 738.3 724.8 758.8 736.0 738.3 659.2 863.2 4

 5 LM704022005 Debt securities 4288.3 4299.9 4647.3 4394.6 4498.0 4640.8 4647.3 4881.7 5240.6 5

 6 FL703069175 Open market paper 0.0 0.2 0.7 0.3 0.4 0.4 0.7 28.7 12.4 6

 7 LM703061105 Treasury securities 616.0 736.7 879.3 737.0 770.4 855.8 879.3 894.3 1101.5 7

 8 LM703061705 Agency- and GSE-backed securities 2422.6 2445.5 2634.4 2505.7 2581.6 2635.6 2634.4 2823.8 2934.2 8

 9 LM703062005 Municipal securities 578.9 505.8 478.3 498.2 482.1 476.6 478.3 491.4 510.0 9

 10 LM703063005 Corporate and foreign bonds 670.8 611.8 654.6 653.4 663.5 672.4 654.6 643.4 682.4 10

 11 FL704023005 Loans 10708.4 11269.4 11727.1 11267.1 11462.3 11576.4 11727.1 12300.5 12324.1 11

 12 FL703068005 Depository institution loans n.e.c. 3395.5 3675.8 3818.0 3686.8 3764.5 3783.6 3818.0 4403.1 4461.8 12

 13 FL703069005 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL703065005 Mortgages 5282.7 5442.5 5655.7 5464.2 5540.7 5593.3 5655.7 5704.3 5739.8 14

 15 FL703066005 Consumer credit 2030.2 2151.1 2253.3 2116.1 2157.1 2199.5 2253.3 2193.1 2122.5 15

 16 LM703064105 Corporate equities 127.6 109.1 147.7 129.5 135.2 133.9 147.7 95.9 118.9 16

 17 LM703064205 Mutual fund shares 67.1 54.7 64.9 59.6 61.5 61.2 64.9 48.8 55.7 17

 18 FL763040005 Life insurance reserves 168.2 172.1 178.8 173.4 175.5 176.9 178.8 179.7 181.0 18

 19 LM763092000 U.S. direct investment abroad 299.3 250.3 297.5 274.9 280.8 276.1 297.5 228.9 260.8 19

 20 FL703090005 Miscellaneous assets 657.7 699.4 618.0 634.1 646.6 656.6 618.0 952.7 856.6 20

 21 FL704190005 Total liabilities 19642.2 20153.7 21107.4 20334.9 20560.3 20772.0 21107.4 22880.1 23854.7 21

 22 FL704110005 Net interbank liabilities 138.8 172.9 78.6 96.1 55.2 62.8 78.6 487.2 328.7 22

 23 FL703127005 Checkable deposits 2410.2 2466.1 2637.8 2417.0 2460.5 2516.4 2637.8 3163.0 3858.8 23

 24 FL703130005 Time and savings deposits 11670.4 12200.5 12884.0 12428.9 12520.5 12682.8 12884.0 13497.8 14177.8 24

 25 FL702150005 Federal funds and security repos 722.9 646.7 717.1 640.4 664.7 706.8 717.1 788.3 688.7 25

 26 FL704122005 Debt securities 261.3 288.2 248.2 273.5 268.9 249.5 248.2 284.1 285.2 26

 27 FL703169175 Open market paper 113.6 128.3 106.9 119.5 117.6 108.5 106.9 131.1 127.6 27

 28 FL763163005 Corporate bonds 147.7 160.0 141.3 154.0 151.3 141.0 141.3 152.9 157.6 28

 29 FL703169005 Loans (other loans and advances) 641.3 635.0 537.2 574.9 591.9 556.1 537.2 677.9 430.8 29

 30 FL763178003 Taxes payable (net) 104.3 109.7 124.2 105.5 108.9 119.1 124.2 107.5 109.9 30

 31 LM753192003 Foreign direct investment in U.S. 371.2 317.5 382.3 349.5 355.9 355.3 382.3 310.8 367.9 31

 32 FL703190005 Miscellaneous liabilities 3321.8 3317.0 3498.1 3449.2 3533.8 3523.1 3498.1 3563.6 3606.9 32

 33 FL763194735 Investment by holding companies 2495.7 2500.5 2603.5 2517.4 2584.3 2574.1 2603.5 2618.7 2743.8 33

 34 FL753194503 Investment by other financial businesses 79.7 123.1 119.5 138.5 122.4 118.7 119.5 122.4 111.5 34

 35 FL703193005 Other 746.4 693.4 775.0 793.3 827.1 830.3 775.0 822.6 751.6 35

 Memo:

 36 FL763066303 Consumer leases not included above (2) 11.2 12.4 13.1 13.0 12.7 13.1 13.1 13.4 13.3 36

 37 FL703139105 Uninsured deposits (3) 5988.7 6190.0 6706.1 6170.4 6326.9 6502.7 6706.1 7453.0 8042.2 37

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

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

 The leased automobile is a nonfinancial asset.

(3) Includes checkable deposits (line 23) and time and savings deposits (line 24) not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
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L.111 U.S.-Chartered Depository Institutions

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL764090005 Total financial assets 15318.5 15633.1 16332.3 15640.8 15841.7 16063.7 16332.3 17647.1 18715.1 1

 2 FL763025000 Vault cash 77.2 82.0 83.4 69.9 71.5 70.3 83.4 99.0 92.0 2

 3 FL763013005 Reserves at Federal Reserve 1161.9 888.4 907.3 898.6 806.7 838.2 907.3 1476.5 1967.1 3

 4 FL762050005 Federal funds and security repos 222.5 382.8 358.5 359.4 376.4 332.3 358.5 331.3 560.3 4

 5 LM764022005 Debt securities 3757.4 3760.5 4083.5 3847.5 3927.8 4058.5 4083.5 4272.3 4588.6 5

 6 FL763069175 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27.5 11.8 6

 7 LM763061100 Treasury securities 484.4 569.8 704.1 563.8 592.2 674.5 704.1 724.4 926.6 7

 8 LM763061705 Agency- and GSE-backed securities 2207.4 2239.3 2408.2 2293.1 2363.2 2411.1 2408.2 2582.8 2650.3 8

 9 LM763061803 Residential mortgage pass-through securities 1382.0 1394.9 1532.2 1435.6 1495.7 1531.9 1532.2 1663.8 1678.3 9

 10 LM763061503 Commercial mortgage pass-through securities 116.0 123.7 149.1 130.8 139.3 146.3 149.1 161.1 173.9 10

 11 LM763061603 Residential CMOs and other structured MBS 411.4 417.6 427.9 423.2 423.6 429.2 427.9 448.8 478.2 11

 12 LM763061403 Commercial CMOs and other structured MBS 139.7 153.5 178.1 157.6 163.4 173.1 178.1 197.0 210.4 12

 13 LM763061795 Other 158.3 149.6 121.0 145.9 141.3 130.6 121.0 112.1 109.5 13

 14 LM763062000 Municipal securities 572.6 499.8 471.7 492.2 476.1 470.9 471.7 484.0 501.5 14

 15 LM763063005 Corporate and foreign bonds 493.0 451.6 499.5 498.4 496.4 502.0 499.5 453.6 498.4 15

 16 LM763063673 Priv. residential mortgage pass-through securities 4.5 3.6 5.3 3.9 3.6 4.4 5.3 5.9 5.8 16

 17 LM763063653 Priv. commercial mortgage pass-through securities 3.0 2.0 2.7 2.0 2.0 2.3 2.7 2.6 2.7 17

 18 LM763063663 Priv. residential CMOs and other structured MBS 39.3 32.5 34.6 32.7 34.6 34.9 34.6 36.5 39.9 18

 19 LM763063693 Priv. commercial CMOs and other structured MBS 36.1 39.0 42.3 41.1 42.1 42.6 42.3 43.1 44.0 19

 20 LM763063095 Other 409.9 374.5 414.6 418.7 414.2 417.7 414.6 365.5 405.9 20

 21 FL764023005 Loans 8984.8 9427.5 9784.9 9408.7 9570.2 9664.5 9784.9 10189.2 10260.4 21

 22 FL763068005 Depository institution loans n.e.c. 2674.5 2927.9 3026.5 2928.9 2985.9 3008.8 3026.5 3459.0 3575.9 22

 23 FL763069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL763065005 Mortgages 4698.5 4817.7 4987.5 4835.4 4900.0 4939.8 4987.5 5020.5 5040.1 24

 25 FL763066000 Consumer credit 1611.8 1681.9 1770.9 1644.5 1684.3 1715.9 1770.9 1709.8 1644.4 25

 26 LM763064105 Corporate equities 127.6 109.1 147.7 129.5 135.2 133.9 147.7 95.9 118.9 26

 27 LM763064203 Mutual fund shares 64.8 52.1 61.6 56.7 58.3 58.0 61.6 45.6 51.9 27

 28 FL763040005 Life insurance reserves 168.2 172.1 178.8 173.4 175.5 176.9 178.8 179.7 181.0 28

 29 LM763092000 U.S. direct investment abroad 299.3 250.3 297.5 274.9 280.8 276.1 297.5 228.9 260.8 29

 30 FL763090005 Miscellaneous assets 454.9 508.1 429.2 422.3 439.3 455.0 429.2 728.7 634.2 30

 31 FL764190005 Total liabilities 16062.9 16524.3 17257.6 16590.0 16836.6 17015.0 17257.6 18575.7 19654.0 31

 32 FL764110005 Net interbank liabilities 52.6 21.5 5.5 -18.1 14.5 -10.0 5.5 61.8 125.3 32

 33 FL713022003 Federal Reserve float -0.9 -0.8 -0.6 -0.8 -0.8 -0.7 -0.6 -0.7 -0.7 33

 34 FL713068715 Borrowing from Federal Reserve banks 0.1 0.1 0.0 0.0 0.1 0.1 0.0 76.6 83.0 34

 35 FL764112005 To domestic banks 3.1 -6.1 -8.5 -4.4 -11.0 -11.2 -8.5 -25.7 -9.4 35

 36 FL764116005 To foreign banks 50.3 28.4 14.6 -12.9 26.2 1.8 14.6 11.5 52.4 36

 37 FL763127005 Checkable deposits 2015.4 2053.7 2191.5 1992.3 2027.2 2072.0 2191.5 2649.7 3304.6 37

 38 FL763123005 Federal government 1.9 1.8 1.6 1.6 1.6 2.0 1.6 1.7 1.9 38

 39 FL763129205 Private domestic 1813.6 1844.6 1966.4 1785.8 1809.6 1856.7 1966.4 2408.0 3054.7 39

 40 FL763122605 Rest of the world 59.4 74.4 84.3 73.6 87.0 84.7 84.3 97.8 80.6 40

 41 FL763130005 Time and savings deposits 9802.0 10293.9 10804.8 10421.0 10491.2 10671.8 10804.8 11428.8 11957.0 41

 42 FL762150005 Federal funds and security repos 170.4 143.1 167.0 152.0 153.9 180.3 167.0 191.1 190.5 42

 43 FL764122005 Debt securities 223.2 247.5 209.7 235.6 230.3 209.7 209.7 232.9 242.0 43

 44 FL763169175 Open market paper 75.5 87.5 68.4 81.6 79.0 68.7 68.4 80.0 84.4 44

 45 FL763163005 Corporate bonds 147.7 160.0 141.3 154.0 151.3 141.0 141.3 152.9 157.6 45

 46 FL763169305 Loans (other loans and advances) 586.5 577.3 484.9 524.1 540.5 502.0 484.9 615.1 380.3 46

 47 FL763178003 Taxes payable (net) 104.3 109.7 124.2 105.5 108.9 119.1 124.2 107.5 109.9 47

 48 FL763190005 Miscellaneous liabilities 3108.6 3077.7 3270.0 3177.5 3270.2 3270.1 3270.0 3288.7 3344.4 48

 49 FL763194735 Investment by holding companies 2495.7 2500.5 2603.5 2517.4 2584.3 2574.1 2603.5 2618.7 2743.8 49

 50 FL763193005 Other 612.9 577.2 666.5 660.1 685.9 696.0 666.5 670.0 600.6 50

 Memo:

 51 FL763066303 Consumer leases not included above (1) 11.2 12.4 13.1 13.0 12.7 13.1 13.1 13.4 13.3 51

 52 FL763139105 Uninsured deposits (2) 4885.3 5084.6 5481.6 5000.6 5132.9 5327.1 5481.6 6226.6 6737.7 52

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

 The leased automobile is a nonfinancial asset.

(2) Includes checkable deposits (line 37) and time and savings deposits (line 41) not insured by the Federal Deposit Insurance Corporation.
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L.112 Foreign Banking Offices in U.S. (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL754090005 Total financial assets 2084.9 2051.5 2089.7 2099.1 2087.9 2089.6 2089.7 2573.5 2228.0 1

 2 FL753025003 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FL753013003 Reserves at Federal Reserve 710.1 598.6 554.1 577.3 523.8 505.7 554.1 873.8 644.6 3

 4 FL752050005 Federal funds and security repos 268.1 319.0 379.0 364.8 381.7 402.9 379.0 327.2 302.2 4

 5 LM754022005 Debt securities 303.3 318.1 309.0 312.9 325.6 334.4 309.0 340.2 334.4 5

 6 FL753069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM753061103 Treasury securities 97.4 125.6 121.1 128.0 129.6 132.3 121.1 116.4 117.1 7

 8 LM753061703 Agency- and GSE-backed securities 45.7 42.9 53.2 41.6 45.5 52.1 53.2 59.4 59.7 8

 9 LM753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM753063005 Corporate and foreign bonds 160.2 149.7 134.7 143.3 150.4 150.0 134.7 164.4 157.7 10

 11 FL754023005 Loans 706.8 739.5 767.9 750.8 762.0 760.7 767.9 926.4 859.8 11

 12 FL753068005 Depository institution loans n.e.c. 629.8 661.9 686.8 672.9 683.6 679.9 686.8 843.1 777.8 12

 13 FL753069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL753065005 Mortgages 77.1 77.6 81.1 77.8 78.4 80.9 81.1 83.3 82.0 14

 15 FL753064103 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL753093005 Miscellaneous assets 96.6 76.2 79.7 93.2 94.9 85.9 79.7 105.9 87.0 16

 17 FL754190005 Total liabilities 2289.0 2268.4 2387.6 2331.5 2302.8 2320.5 2387.6 2778.3 2543.7 17

 18 FL754110005 Net interbank liabilities 129.6 191.1 113.8 148.7 79.5 115.3 113.8 470.6 243.2 18

 19 FL754116005 To foreign banks 107.7 178.5 108.3 135.6 69.7 107.9 108.3 461.2 234.4 19

 20 FL754112005 To domestic banks 21.9 12.6 5.6 13.1 9.8 7.4 5.6 9.4 8.8 20

 21 FL753127005 Checkable deposits 185.0 177.8 188.5 190.6 197.2 193.9 188.5 236.8 239.2 21

 22 FL753130005 Time and savings deposits 821.8 819.8 908.8 867.6 881.1 859.5 908.8 859.9 920.0 22

 23 FL752150005 Federal funds and security repos 552.5 503.6 550.0 488.3 510.8 526.5 550.0 597.2 498.2 23

 24 FL753169175 Debt securities (open market paper) 38.1 40.8 38.5 37.9 38.6 39.8 38.5 51.1 43.2 24

 25 LM753192003 Foreign direct investment in U.S. 371.2 317.5 382.3 349.5 355.9 355.3 382.3 310.8 367.9 25

 26 FL753190005 Miscellaneous liabilities 190.8 217.8 205.6 248.9 239.7 230.3 205.6 251.9 232.0 26

 27 FL753194503 Investment by other financial businesses 79.7 123.1 119.5 138.5 122.4 118.7 119.5 122.4 111.5 27

 28 FL753193005 Other 111.1 94.8 86.1 110.4 117.3 111.5 86.1 129.5 120.5 28

 Memo:

 29 FL753139105 Uninsured deposits (2) 1006.8 997.6 1097.3 1058.2 1078.3 1053.4 1097.3 1096.7 1159.2 29

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) All checkable deposits (line 21) and time and savings deposits (line 22) are considered uninsured according to the Federal Deposit Insurance Act.
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90 Z.1, September 21, 2020

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

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL744090005 Total financial assets 88.0 91.2 95.6 90.2 93.0 98.2 95.6 95.3 105.0 1

 2 FL743013003 Reserves at Federal Reserve 7.8 6.0 4.4 6.6 5.1 7.3 4.4 8.0 13.4 2

 3 LM744022003 Debt securities 14.7 19.5 33.6 20.8 28.7 31.1 33.6 34.0 38.7 3

 4 LM743061103 Treasury securities 5.0 10.2 16.6 11.3 14.4 14.0 16.6 14.7 17.6 4

 5 LM743061703 Agency- and GSE-backed securities 1.5 8.0 8.0 8.2 8.4 7.8 8.0 7.2 9.1 5

 6 LM743062003 Municipal securities 1.3 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.1 6

 7 LM743063005 Corporate and foreign bonds 7.0 0.1 7.8 0.1 4.7 8.0 7.8 10.9 10.9 7

 8 FL744023003 Loans 38.4 37.1 40.7 37.9 39.3 38.3 40.7 41.3 43.4 8

 9 FL743068005 Depository institution loans n.e.c. 12.6 13.1 18.1 14.2 15.9 15.4 18.1 19.4 21.0 9

 10 FL743065103 One-to-four-family residential mortgages 15.3 14.1 13.2 13.8 13.6 13.4 13.2 12.7 13.1 10

 11 FL743065505 Commercial mortgages 10.5 10.0 9.4 9.9 9.8 9.5 9.4 9.2 9.3 11

 12 FL743093005 Miscellaneous assets 27.1 28.5 17.0 24.9 19.9 21.7 17.0 12.0 9.5 12

 13 FL744190005 Total liabilities 78.5 81.2 86.9 80.6 83.6 88.7 86.9 87.0 96.5 13

 14 FL744110005 Net interbank liabilities -1.0 -1.3 -1.6 -1.3 -1.4 -1.5 -1.6 -1.9 -2.0 14

 15 FL743127003 Checkable deposits 37.4 40.9 45.7 41.0 43.3 46.7 45.7 45.5 53.3 15

 16 FL743130003 Time and savings deposits 38.1 38.5 39.8 37.6 38.4 40.2 39.8 40.4 41.6 16

 17 FL743193005 Miscellaneous liabilities 4.1 3.2 3.0 3.2 3.2 3.2 3.0 3.1 3.5 17

 Memo:

 18 FL743139105 Uninsured deposits (2) 25.3 29.3 33.6 29.6 31.9 34.6 33.6 33.7 39.7 18

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

(2) Includes checkable deposits (line 15) and time and savings deposits (line 16) not insured by the Federal Deposit Insurance Corporation.

L.114 Credit Unions

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

 1 FL474090005 Total financial assets 1342.1 1419.1 1534.2 1478.7 1489.1 1504.0 1534.2 1604.8 1731.8 1

 2 FL473013005 Reserves at Federal Reserve 69.3 62.9 83.0 98.3 85.9 76.1 83.0 116.0 162.0 2

 3 FL472050053 Federal funds and security repos 0.2 0.2 0.8 0.6 0.7 0.8 0.8 0.8 0.8 3

 4 LM474022005 Debt securities 213.0 201.8 221.3 213.4 215.9 216.8 221.3 235.2 278.9 4

 5 FL473069153 Open market paper 0.0 0.2 0.7 0.3 0.4 0.4 0.7 1.2 0.7 5

 6 LM473061105 Treasury securities 29.3 31.1 37.5 33.8 34.2 34.9 37.5 38.7 40.2 6

 7 LM473061705 Agency- and GSE-backed securities 168.0 155.3 165.0 162.8 164.5 164.7 165.0 174.4 215.2 7

 8 LM473062005 Municipal securities 5.1 4.8 5.5 4.8 4.8 4.5 5.5 6.3 7.4 8

 9 LM473063005 Corporate and foreign bonds 10.7 10.4 12.6 11.7 12.0 12.3 12.6 14.6 15.5 9

 10 FL474023000 Loans 978.4 1065.2 1133.6 1069.7 1090.9 1112.9 1133.6 1143.6 1160.5 10

 11 FL473068005 Depository institution loans n.e.c. 78.6 73.0 86.6 70.8 79.2 79.5 86.6 81.7 87.1 11

 12 FL473065100 One-to-four-family residential mortgages 481.4 523.0 564.5 527.4 538.9 549.8 564.5 578.7 595.3 12

 13 FL473066000 Consumer credit 418.4 469.2 482.4 471.6 472.8 483.6 482.4 483.3 478.1 13

 14 LM473064205 Mutual fund shares 2.3 2.5 3.3 3.0 3.3 3.2 3.3 3.2 3.8 14

 15 FL473090005 Miscellaneous assets 79.0 86.5 92.2 93.7 92.5 94.1 92.2 106.0 125.9 15

 16 FL474190005 Total liabilities 1211.7 1279.7 1375.4 1332.8 1337.4 1347.8 1375.4 1439.2 1560.5 16

 17 FL474110005 Net interbank liabilities -42.4 -38.4 -39.1 -33.2 -37.4 -41.0 -39.1 -43.3 -37.9 17

 18 FL473127003 Checkable deposits 172.4 193.8 212.1 193.1 192.8 203.8 212.1 231.0 261.6 18

 19 FL473130005 Time and savings deposits 1008.6 1048.3 1130.6 1102.6 1109.9 1111.3 1130.6 1168.7 1259.3 19

 20 FL472150053 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL473169333 Loans (other loans and advances) 54.8 57.7 52.3 50.7 51.4 54.2 52.3 62.9 50.5 21

 22 FL473193005 Miscellaneous liabilities 18.3 18.3 19.4 19.6 20.7 19.5 19.4 19.9 27.0 22

 Memo:

 23 FL473139103 Uninsured deposits (1) 71.3 78.6 93.7 82.0 83.8 87.7 93.7 96.0 105.5 23

(1) Includes checkable deposits (line 18) and time and savings deposits (line 19) not insured by the National Credit Union Share Insurance Fund.
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L.115 Property-Casualty Insurance Companies

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL514090005 Total financial assets 2388.0 2412.5 2650.0 2490.5 2565.5 2613.7 2650.0 2567.7 2724.5 1

 2 FL513020005 Checkable deposits and currency 31.9 30.2 47.6 32.3 41.0 45.5 47.6 47.0 59.5 2

 3 FL513034005 Money market fund shares 19.6 22.3 24.7 21.9 25.5 25.9 24.7 21.7 28.3 3

 4 FL512051005 Security repurchase agreements 1.4 1.3 2.0 1.7 1.8 1.7 2.0 2.4 2.0 4

 5 LM514022005 Debt securities 1097.2 1118.6 1192.8 1154.4 1177.6 1194.3 1192.8 1190.8 1268.3 5

 6 FL513069105 Open market paper 11.4 9.2 9.7 10.6 10.1 9.0 9.7 6.8 6.5 6

 7 LM513061105 Treasury securities 149.6 156.8 153.4 157.4 157.0 152.2 153.4 168.6 178.1 7

 8 LM513061705 Agency- and GSE-backed securities 115.1 127.0 149.7 133.7 136.7 142.8 149.7 153.0 147.9 8

 9 LM513062005 Municipal securities 338.9 291.6 285.2 293.0 291.0 289.4 285.2 281.1 287.7 9

 10 LM513063005 Corporate and foreign bonds 482.2 534.0 594.8 559.7 582.9 601.0 594.8 581.4 648.1 10

 11 FL513065505 Loans (commercial mortgages) 17.8 20.5 22.9 20.8 20.9 20.9 22.9 23.6 23.8 11

 12 LM513064105 Corporate equities 410.6 392.1 493.9 417.4 436.7 457.2 493.9 396.1 430.2 12

 13 LM513064205 Mutual fund shares 24.4 21.3 25.8 23.2 25.1 25.8 25.8 22.0 26.4 13

 14 FL513070005 Trade receivables 168.2 186.1 192.7 190.1 195.9 193.6 192.7 199.7 204.9 14

 15 LM513092003 U.S. direct investment abroad 163.6 140.5 162.6 154.0 155.1 153.5 162.6 125.2 142.6 15

 16 FL513090005 Miscellaneous assets 453.3 479.7 485.1 474.8 485.8 495.3 485.1 539.1 538.5 16

 17 FL513092403 Equity in FHLB 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 17

 18 FL513076005 Policy payables (1) 299.4 308.1 318.6 309.0 312.7 314.0 318.6 320.8 326.9 18

 19 FL513093005 Other 153.8 171.3 166.3 165.6 172.9 181.1 166.3 218.0 211.3 19

 20 FL514190005 Total liabilities 1756.7 1789.5 1894.6 1830.7 1865.8 1882.5 1894.6 1867.6 1946.0 20

 21 FL512151003 Security repurchase agreements 0.4 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 21

 22 FL513169333 Loans (other loans and advances) 2.9 3.3 3.5 3.8 3.3 3.4 3.5 6.0 6.3 22

 23 FL513170005 Trade payables 68.4 76.8 79.5 77.1 78.0 78.3 79.5 80.0 81.5 23

 24 FL513178005 Taxes payable 14.1 13.3 13.0 14.4 12.9 12.0 13.0 15.7 16.0 24

 25 LM513192003 Foreign direct investment in U.S. 187.9 171.9 193.5 195.2 203.8 202.4 193.5 157.3 186.2 25

 26 FL513190005 Miscellaneous liabilities 1483.0 1523.9 1604.8 1540.0 1567.6 1586.2 1604.8 1608.3 1655.8 26

 27 FL513194733 Investment by parent companies 4.8 6.0 6.8 6.3 6.8 6.7 6.8 6.7 1.9 27

 28 FL513176005 Policy payables 1250.2 1294.2 1338.2 1297.9 1313.6 1319.0 1338.2 1347.7 1373.3 28

 29 FL513193005 Other 228.0 223.7 259.8 235.8 247.1 260.5 259.8 253.9 280.5 29

 Memo:

 30 FL513200003 Securities lending (2) 5.1 5.9 6.0 6.3 6.0 6.1 6.0 5.9 6.0 30

 31 FL514090023 Financial guaranty insurers’ total assets (3) 26.5 23.5 21.8 23.3 23.3 22.7 21.8 20.8 21.1 31

 32 FL514090033 Mortgage guaranty insurers’ total assets (3) 22.1 25.5 27.2 26.1 26.4 26.7 27.2 27.1 28.7 32

 33 FL513176015 Direct reserve 1060.0 1088.0 1124.9 1091.1 1104.3 1108.8 1124.9 1132.9 1154.5 33

 34 FL513176025 Reinsured to U.S. reinsurers 140.1 147.0 152.0 147.4 149.2 149.8 152.0 153.1 156.0 34

 35 FL263176005 Reinsured to non-U.S. reinsurers 159.3 161.1 166.6 161.5 163.5 164.2 166.6 167.7 170.9 35

 36 FL263076005 Reinsured from non-U.S. reinsurers 50.1 59.2 61.3 59.4 60.1 60.4 61.3 61.7 62.9 36

(1) Policy payables due from reinsurers.

(2) Liability for securities lending collateral, included in line 29.

(3) Total nonfinancial and financial assets of financial guaranty insurers and mortgage guaranty insurers as reported in statutory financial statements, with securities reported at book/adjusted

 carrying value.
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L.116 Life Insurance Companies (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL544090005 Total financial assets 7747.3 7566.4 8507.3 7937.1 8194.8 8387.6 8507.3 8289.4 8828.3 1

 2 FL543020005 Checkable deposits and currency 91.1 90.7 94.7 89.3 96.2 105.8 94.7 142.4 137.6 2

 3 FL543034005 Money market fund shares 48.2 55.0 58.6 52.0 56.6 62.0 58.6 92.2 93.8 3

 4 FL542051075 Security repurchase agreements 2.0 2.2 6.3 3.3 4.7 5.7 6.3 9.8 7.5 4

 5 LM544022005 Debt securities 3585.8 3502.6 4018.9 3685.2 3859.4 3995.9 4018.9 3979.3 4301.1 5

 6 FL543069105 Open market paper 38.1 33.1 28.8 33.4 33.8 32.2 28.8 27.5 25.8 6

 7 LM543061105 Treasury securities 228.3 203.7 215.3 203.6 206.4 214.3 215.3 243.9 242.0 7

 8 LM543061705 Agency- and GSE-backed securities 386.6 364.9 388.4 375.4 384.6 391.4 388.4 407.1 391.3 8

 9 LM543062005 Municipal securities 197.8 190.0 215.0 198.4 204.8 210.7 215.0 212.0 216.1 9

 10 LM543063005 Corporate and foreign bonds 2735.0 2710.9 3171.4 2874.4 3029.8 3147.3 3171.4 3088.8 3425.9 10

 11 FL544023005 Loans 675.7 737.2 784.7 750.3 757.4 774.2 784.7 799.8 799.7 11

 12 FL543069005 Other loans and advances 169.0 169.1 165.5 168.7 167.0 168.9 165.5 171.1 168.5 12

 13 FL543065005 Mortgages 506.7 568.1 619.2 581.6 590.4 605.4 619.2 628.7 631.2 13

 14 LM543064105 Corporate equities 622.8 537.8 644.2 586.7 605.8 610.6 644.2 545.6 606.1 14

 15 LM543064205 Mutual fund shares 1572.3 1402.7 1599.4 1527.6 1551.1 1533.7 1599.4 1307.5 1495.5 15

 16 FL543070005 Trade receivables 102.2 101.5 107.9 104.4 107.8 112.8 107.9 126.8 125.1 16

 17 FL543040005 Life insurance reserves 286.6 250.4 257.1 251.7 253.3 256.4 257.1 262.3 260.8 17

 18 FL543050005 Pension entitlements 91.4 191.4 199.5 193.2 195.2 198.2 199.5 207.8 206.8 18

 19 LM543092073 U.S. direct investment abroad 87.9 65.3 87.4 79.2 77.5 78.9 87.4 67.2 76.6 19

 20 FL543090005 Miscellaneous assets 581.3 629.8 648.6 614.4 629.8 653.3 648.6 748.6 717.8 20

 21 FL543092473 Equity in FHLB 4.2 4.7 5.2 4.7 4.7 5.0 5.2 6.0 5.4 21

 22 FL543077073 Deferred and unpaid life ins. premiums 33.1 35.0 36.5 36.4 35.7 36.6 36.5 39.0 38.1 22

 23 FL543095105 Other reserves 69.8 74.3 77.6 74.9 75.5 76.2 77.6 77.6 78.1 23

 24 FL543093005 Other 474.2 515.8 529.3 498.3 513.8 535.5 529.3 625.9 596.2 24

 25 FL544190005 Total liabilities 7295.1 7251.2 7827.2 7493.2 7623.0 7724.7 7827.2 7683.0 7979.9 25

 26 FL542151073 Security repurchase agreements 21.4 24.1 17.5 23.5 23.2 20.8 17.5 27.1 25.9 26

 27 FL543169373 Loans (other loans and advances) 74.8 81.1 88.7 82.2 82.2 86.1 88.7 107.7 108.2 27

 28 FL543170005 Trade payables 171.2 186.3 200.0 190.9 196.3 204.1 200.0 223.0 226.9 28

 29 FL543140005 Life insurance reserves 2008.8 2035.2 2122.4 2067.9 2085.9 2106.6 2122.4 2106.3 2134.4 29

 30 FL543150005 Pension entitlements (2) 3222.9 3174.8 3486.5 3315.3 3378.7 3411.4 3486.5 3295.8 3468.5 30

 31 FL543178075 Taxes payable 10.9 8.0 8.4 8.7 7.7 7.5 8.4 10.9 12.1 31

 32 LM543192073 Foreign direct investment in U.S. 177.4 152.3 182.8 170.5 179.5 178.9 182.8 148.6 175.9 32

 33 FL543190005 Miscellaneous liabilities 1607.7 1589.3 1721.0 1634.2 1669.6 1709.3 1721.0 1763.6 1828.0 33

 34 FL543194733 Investment by parent companies 15.8 4.8 5.9 5.2 5.7 5.9 5.9 0.0 0.0 34

 35 FL673090543 Funding agreements backing securities (3) 69.6 74.1 79.1 77.5 76.7 77.8 79.1 83.6 86.8 35

 36 FL543195005 Other reserves (4) 382.4 408.7 426.6 413.7 416.7 419.6 426.6 427.5 432.3 36

 37 FL593095005 Unallocated insurance contracts 805.3 789.3 843.5 819.3 829.2 831.0 843.5 790.0 832.0 37

 38 FL543193005 Other 334.7 312.4 365.9 318.5 341.3 375.0 365.9 462.5 476.8 38

 Memo:

 39 FL543200073 Securities lending (5) 49.0 42.6 44.7 45.2 45.2 45.4 44.7 46.4 47.0 39

 40 FL543176015 Direct reserve 6165.0 6114.9 6584.4 6322.9 6413.5 6472.3 6584.4 6338.3 6591.6 40

 41 FL543176025 Reinsured to U.S. reinsurers 639.0 705.1 733.6 713.1 719.3 727.9 733.6 740.5 743.7 41

 42 FL543076035 Reinsured to non-U.S. reinsurers 363.5 444.4 460.6 447.8 451.7 457.9 460.6 474.2 472.2 42

 43 FL543176035 Reinsured from non-U.S. reinsurers 25.7 26.0 27.0 26.2 26.4 26.8 27.0 27.9 27.7 43

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables L.116.g and L.116.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 37.

(3) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(4) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.

(5) Liability for securities lending collateral, included in line 38.
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L.116.g Life Insurance Companies: General Accounts

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL544090075 Total financial assets 5048.7 5118.4 5725.4 5305.9 5506.5 5696.3 5725.4 5882.4 6140.2 1

 2 FL543020075 Checkable deposits and currency 63.1 59.4 67.6 58.3 65.7 75.7 67.6 113.1 109.5 2

 3 FL543034075 Money market fund shares 25.4 26.6 33.3 26.7 30.8 36.4 33.3 57.8 61.3 3

 4 FL542051075 Security repurchase agreements 2.0 2.2 6.3 3.3 4.7 5.7 6.3 9.8 7.5 4

 5 LM544022075 Debt securities 3170.0 3104.0 3565.8 3264.5 3415.4 3527.7 3565.8 3502.1 3787.0 5

 6 FL543069175 Open market paper 25.6 23.5 20.4 23.8 24.4 22.9 20.4 20.1 18.0 6

 7 LM543061175 Treasury securities 174.6 154.8 165.3 153.4 154.8 161.2 165.3 191.0 188.4 7

 8 LM543061775 Agency- and GSE-backed securities 292.9 275.2 289.8 281.6 286.4 288.7 289.8 301.9 285.2 8

 9 LM543062075 Municipal securities 189.0 181.7 204.1 189.2 194.7 199.7 204.1 199.9 203.1 9

 10 LM543063075 Corporate and foreign bonds 2487.9 2468.8 2886.2 2616.5 2755.1 2855.1 2886.2 2789.2 3092.2 10

 11 FL544023075 Loans 645.9 701.7 747.7 713.7 719.6 735.2 747.7 761.7 763.2 11

 12 FL543069075 Other loans and advances 164.2 164.4 165.5 165.1 164.5 167.6 165.5 171.1 168.5 12

 13 FL543065075 Mortgages 481.6 537.2 582.2 548.5 555.1 567.7 582.2 590.6 594.7 13

 14 LM543064175 Corporate equities 96.0 92.6 102.8 95.1 97.9 99.9 102.8 102.7 98.0 14

 15 LM543064275 Mutual fund shares 7.3 6.8 8.0 7.8 8.2 8.4 8.0 6.6 7.9 15

 16 FL543070075 Trade receivables 102.2 101.4 107.9 104.3 107.8 112.8 107.9 126.8 125.0 16

 17 FL543040075 Life insurance reserves 286.6 250.4 257.1 251.7 253.3 256.4 257.1 262.3 260.8 17

 18 FL543050075 Pension entitlements 91.3 188.5 196.3 190.1 192.0 195.1 196.3 205.0 203.7 18

 19 LM543092073 U.S. direct investment abroad 87.9 65.3 87.4 79.2 77.5 78.9 87.4 67.2 76.6 19

 20 FL543090075 Miscellaneous assets 471.0 519.7 545.0 511.1 533.6 564.1 545.0 667.2 639.7 20

 21 FL544190075 Total liabilities 4584.9 4788.6 5029.9 4846.3 4918.3 5016.9 5029.9 5262.1 5278.0 21

 22 FL542151073 Security repurchase agreements 21.4 24.1 17.5 23.5 23.2 20.8 17.5 27.1 25.9 22

 23 FL543169373 Loans (other loans and advances) 74.8 81.1 88.7 82.2 82.2 86.1 88.7 107.7 108.2 23

 24 FL543170075 Trade payables 171.2 185.3 198.9 189.8 195.2 202.9 198.9 222.0 225.8 24

 25 FL543140075 Life insurance reserves 1656.7 1698.6 1744.3 1707.1 1718.3 1739.6 1744.3 1779.1 1769.2 25

 26 FL543150075 Pension entitlements (1) 1212.7 1366.1 1408.2 1365.8 1381.3 1404.8 1408.2 1494.6 1460.7 26

 27 FL543178075 Taxes payable 10.9 8.0 8.4 8.7 7.7 7.5 8.4 10.9 12.1 27

 28 LM543192073 Foreign direct investment in U.S. 177.4 152.3 182.8 170.5 179.5 178.9 182.8 148.6 175.9 28

 29 FL543190075 Miscellaneous liabilities 1259.8 1273.0 1381.2 1298.7 1331.0 1376.4 1381.2 1472.2 1500.2 29

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 29).

L.116.s Life Insurance Companies: Separate Accounts

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

 1 FL544090085 Total financial assets 2698.6 2447.9 2781.9 2631.1 2688.3 2691.3 2781.9 2407.1 2688.1 1

 2 FL543020083 Checkable deposits and currency 28.0 31.3 27.1 30.9 30.6 30.1 27.1 29.3 28.1 2

 3 FL543034385 Money market fund shares 22.8 28.4 25.2 25.3 25.8 25.6 25.2 34.5 32.5 3

 4 LM544022085 Debt securities 415.7 398.6 453.1 420.6 444.0 468.2 453.1 477.1 514.1 4

 5 FL543069183 Open market paper 12.4 9.7 8.3 9.6 9.4 9.3 8.3 7.3 7.7 5

 6 LM543061183 Treasury securities 53.7 48.8 50.0 50.2 51.7 53.1 50.0 52.9 53.6 6

 7 LM543061783 Agency- and GSE-backed securities 93.8 89.7 98.5 93.8 98.2 102.7 98.5 105.2 106.1 7

 8 LM543062083 Municipal securities 8.8 8.3 11.0 9.2 10.0 11.0 11.0 12.1 13.0 8

 9 LM543063085 Corporate and foreign bonds 247.1 242.0 285.3 257.9 274.7 292.3 285.3 299.6 333.7 9

 10 FL544023085 Loans 29.8 35.5 36.9 36.6 37.8 39.0 36.9 38.1 36.5 10

 11 FL543069483 Other loans and advances 4.8 4.6 0.0 3.6 2.5 1.3 0.0 0.0 0.0 11

 12 FL543065083 Mortgages 25.0 30.9 36.9 33.0 35.3 37.7 36.9 38.1 36.5 12

 13 LM543064185 Corporate equities 526.9 445.2 541.4 491.5 507.8 510.7 541.4 442.9 508.0 13

 14 LM543064385 Mutual fund shares 1565.1 1396.0 1591.3 1519.8 1543.0 1525.3 1591.3 1300.9 1487.6 14

 15 FL543070085 Trade receivables 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL543040085 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FL543050085 Pension entitlements 0.1 2.8 3.2 3.1 3.1 3.1 3.2 2.8 3.1 17

 18 FL543090085 Miscellaneous assets 110.3 110.1 103.6 103.3 96.2 89.2 103.6 81.4 78.1 18

 19 FL544190085 Total liabilities 2710.2 2462.6 2797.3 2646.9 2704.7 2707.8 2797.3 2420.8 2701.9 19

 20 FL543170085 Trade payables 0.0 1.1 1.1 1.1 1.1 1.1 1.1 1.0 1.1 20

 21 LM543140085 Life insurance reserves 352.1 336.6 378.1 360.8 367.6 367.0 378.1 327.2 365.2 21

 22 LM543150085 Pension entitlements (1) 2010.2 1808.7 2078.3 1949.5 1997.4 2006.6 2078.3 1801.2 2007.8 22

 23 FL543190085 Miscellaneous liabilities 347.8 316.3 339.7 335.5 338.5 333.0 339.7 291.4 327.7 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 23).
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L.117 Private and Public Pension Funds (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL594090005 Total financial assets (2) 22632.6 22592.5 24231.9 23265.3 23592.6 23722.9 24231.9 23189.4 24240.7 1

 2 FL593020005 Checkable deposits and currency 53.0 46.1 38.1 37.0 43.1 44.4 38.1 38.4 38.7 2

 3 FL593030005 Time and savings deposits 37.5 32.1 34.3 29.8 31.8 31.8 34.3 34.8 36.0 3

 4 FL593034005 Money market fund shares 221.0 218.2 180.6 182.8 177.7 178.8 180.6 193.1 195.0 4

 5 FL592051005 Security repurchase agreements 7.6 7.0 9.6 6.2 6.0 14.2 9.6 9.5 10.4 5

 6 LM594022005 Debt securities 4099.9 4453.5 4740.2 4323.2 4246.3 4653.1 4740.2 4766.4 4821.0 6

 7 FL593069105 Open market paper 96.9 89.7 48.5 57.1 55.7 49.4 48.5 52.8 51.7 7

 8 LM593061105 Treasury securities (3) 2370.4 2779.0 2923.8 2533.4 2493.2 2809.9 2923.8 2961.3 2944.8 8

 9 LM593061705 Agency- and GSE-backed securities 312.4 356.0 410.2 367.6 376.4 412.8 410.2 426.4 391.5 9

 10 LM593062045 Municipal securities 3.4 4.1 0.1 0.1 0.1 0.0 0.1 0.0 0.0 10

 11 LM593063005 Corporate and foreign bonds 1316.7 1224.8 1357.7 1365.0 1320.8 1380.9 1357.7 1325.9 1432.8 11

 12 FL594023005 Loans 185.2 36.1 49.6 249.1 250.6 57.0 49.6 51.1 35.6 12

 13 FL313169003 Other loans and advances 151.7 0.0 15.8 215.3 216.7 23.1 15.8 15.7 0.0 13

 14 FL593065005 Mortgages 33.6 36.1 33.8 33.8 33.8 33.9 33.8 35.4 35.6 14

 15 LM593064105 Corporate equities 5744.0 5218.6 6004.7 5513.1 5758.4 5641.5 6004.7 4923.6 5943.5 15

 16 LM593064205 Mutual fund shares 4368.0 4039.5 4618.1 4266.9 4422.1 4429.4 4618.1 3835.1 4423.8 16

 17 FL593090005 Miscellaneous assets 7916.4 8541.3 8556.7 8657.2 8656.8 8672.6 8556.7 9337.4 8736.6 17

 18 FL593095005 Unallocated insurance contracts (4) 805.3 789.3 843.5 819.3 829.2 831.0 843.5 790.0 832.0 18

 19 FL573074005 Contributions receivable 119.3 84.7 83.8 83.2 88.7 86.1 83.8 91.2 93.2 19

 20 FL593073005 Claims of pension fund on sponsor (5) 6020.6 6703.7 6007.9 6429.5 6320.1 6284.3 6007.9 6927.4 6149.9 20

 21 FL593093005 Other 971.3 963.6 1621.5 1325.2 1418.7 1471.2 1621.5 1528.7 1661.5 21

 22 FL594190005 Pension entitlements (liabilities) (6) 22754.1 22698.4 24393.2 23429.6 23746.0 23888.9 24393.2 23343.2 24390.5 22

 Memo:

 Funded status of defined benefit plans:

 23 FL594190045 Pension entitlements 15188.9 15523.3 15881.0 15614.2 15704.8 15793.8 15881.0 15963.9 16051.5 23

 24 FL592000075 Funded by assets (7) 9168.3 8819.6 9873.1 9184.8 9384.7 9509.6 9873.1 9036.4 9901.6 24

 25 FL593073045 Unfunded (line 18) 6020.6 6703.7 6007.9 6429.5 6320.1 6284.3 6007.9 6927.4 6149.9 25

 26 FL153050015 Household retirement assets (8) 34769.1 34502.1 38224.7 36146.8 36814.7 37109.3 38224.7 35510.0 ND 26

 27 FL594190045 Defined benefit plans 15188.9 15523.3 15881.0 15614.2 15704.8 15793.8 15881.0 15963.9 16051.5 27

 28 FL594090055 Defined contribution plans 7565.3 7175.0 8512.2 7815.3 8041.2 8095.0 8512.2 7379.4 8339.0 28

 29 LM893131573 Individual retirement plans (IRAs) (9) 9439.0 9250.0 11025.0 10050.0 10350.0 10475.0 11025.0 9511.0 ND 29

 30 FL543150015 Annuities at life insurance companies (10) 2575.9 2553.8 2806.5 2667.3 2718.7 2745.4 2806.5 2655.8 ND 30

(1) Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(8) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(9) IRA assets are not included above. See memo items on table L.227 for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs are excluded. They are included in line 29.
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L.118 Private Pension Funds (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL574090005 Total financial assets (2) 10020.1 9684.1 10880.3 10256.6 10461.9 10512.9 10880.3 9883.5 10740.7 1

 2 FL573020005 Checkable deposits and currency 21.8 16.8 16.9 16.8 17.0 17.0 16.9 17.3 17.4 2

 3 FL573030005 Time and savings deposits 35.0 30.0 29.7 29.8 30.2 29.9 29.7 30.2 30.3 3

 4 FL573034005 Money market fund shares 158.9 158.5 160.0 158.6 159.5 159.9 160.0 163.2 163.7 4

 5 FL572051005 Security repurchase agreements 2.9 2.5 2.4 2.4 2.5 2.4 2.4 2.5 2.5 5

 6 LM574022005 Debt securities 1391.2 1416.1 1607.8 1488.6 1500.2 1572.9 1607.8 1614.1 1684.4 6

 7 FL573069105 Open market paper 42.9 37.6 37.4 37.4 37.9 37.6 37.4 37.9 38.0 7

 8 LM573061105 Treasury securities 350.9 371.9 420.7 388.3 391.3 413.9 420.7 452.5 449.7 8

 9 LM573061705 Agency- and GSE-backed securities 193.6 205.0 229.1 213.2 213.1 223.2 229.1 234.8 219.9 9

 10 LM573063005 Corporate and foreign bonds 803.8 801.5 920.7 849.7 857.9 898.2 920.7 888.8 976.8 10

 11 FL573065005 Loans (mortgages) 26.7 23.8 25.1 24.1 24.4 24.8 25.1 25.7 26.0 11

 12 LM573064105 Corporate equities 2713.0 2448.0 3135.8 2765.1 2911.3 2907.9 3135.8 2494.5 3047.6 12

 13 LM573064205 Mutual fund shares 3886.7 3594.4 4239.3 3944.4 4064.5 4040.8 4239.3 3533.8 4072.6 13

 14 FL573090005 Miscellaneous assets 1784.0 1994.2 1663.2 1826.7 1752.4 1757.3 1663.2 2002.3 1696.3 14

 15 FL573095005 Unallocated insurance contracts (3) 565.0 555.9 589.7 574.1 579.9 582.0 589.7 558.1 586.9 15

 16 FL573074005 Contributions receivable 119.3 84.7 83.8 83.2 88.7 86.1 83.8 91.2 93.2 16

 17 FL573073005 Claims of pension fund on sponsor (4) 326.7 590.0 175.7 394.8 297.8 288.2 175.7 514.5 168.3 17

 18 FL573093005 Other 773.0 763.6 813.9 774.6 786.0 801.0 813.9 838.5 847.8 18

 19 FL574190005 Pension entitlements (liabilities) (5) 10056.7 9720.7 10916.8 10293.1 10498.5 10549.5 10916.8 9920.1 10777.3 19

 Memo:

 Funded status of defined benefit plans:

 20 FL574190043 Pension entitlements 3516.0 3520.6 3534.7 3526.5 3531.6 3534.8 3534.7 3534.6 3534.5 20

 21 FL572000075 Funded by assets (6) 3189.3 2930.6 3359.0 3131.7 3233.8 3246.6 3359.0 3020.1 3366.2 21

 22 FL573073005 Unfunded (line 17) 326.7 590.0 175.7 394.8 297.8 288.2 175.7 514.5 168.3 22

 Total financial assets

 23 FL574090045 Defined benefit plans (7) 3479.5 3484.0 3498.2 3490.0 3495.1 3498.3 3498.2 3498.1 3498.0 23

 24 FL574090055 Defined contribution plans (8) 6540.6 6200.1 7382.1 6766.6 6966.8 7014.7 7382.1 6385.5 7242.8 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans is available on tables L.118.b.

(8) Additional detail on defined contribution plans is available on table L.118.c.
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L.118.b Private Pension Funds: Defined Benefit Plans

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL574090045 Total financial assets (1) 3479.5 3484.0 3498.2 3490.0 3495.1 3498.3 3498.2 3498.1 3498.0 1

 2 FL573020043 Checkable deposits and currency 9.8 8.9 8.7 8.8 9.0 8.9 8.7 8.9 9.0 2

 3 FL573030043 Time and savings deposits 31.2 26.0 25.7 25.8 26.2 25.9 25.7 26.1 26.2 3

 4 FL573034043 Money market fund shares 37.3 31.1 30.7 30.9 31.3 31.0 30.7 31.2 31.3 4

 5 FL572051043 Security repurchase agreements 2.9 2.5 2.4 2.4 2.5 2.4 2.4 2.5 2.5 5

 6 LM574022045 Debt securities 980.7 1000.4 1115.4 1051.5 1039.6 1090.0 1115.4 1089.5 1134.4 6

 7 FL573069143 Open market paper 34.0 28.3 28.0 28.1 28.5 28.2 28.0 28.4 28.5 7

 8 LM573061143 Treasury securities 214.3 225.4 246.1 234.7 228.7 242.0 246.1 252.3 247.0 8

 9 LM573061743 Agency- and GSE-backed securities 120.6 126.7 137.2 131.5 127.4 133.6 137.2 134.3 124.7 9

 10 LM573063043 Corporate and foreign bonds 611.8 620.0 704.1 657.2 654.9 686.3 704.1 674.5 734.1 10

 11 FL573065043 Loans (mortgages) 15.8 14.3 14.3 14.3 14.3 14.3 14.3 14.3 14.3 11

 12 LM573064143 Corporate equities 1210.9 1055.5 1316.4 1178.6 1260.8 1238.1 1316.4 1048.5 1285.0 12

 13 LM573064243 Mutual fund shares 411.5 344.9 394.4 370.4 397.1 385.0 394.4 350.4 408.0 13

 14 FL573090045 Miscellaneous assets 779.3 1000.4 590.2 807.2 714.4 702.7 590.2 926.6 587.4 14

 15 FL573095405 Unallocated insurance contracts (2) 62.2 62.8 70.7 66.8 67.0 68.0 70.7 63.5 69.3 15

 16 FL573074043 Contributions receivable 83.3 46.8 42.4 44.6 49.2 45.6 42.4 48.0 49.3 16

 17 FL573073005 Claims of pension fund on sponsor (3) 326.7 590.0 175.7 394.8 297.8 288.2 175.7 514.5 168.3 17

 18 FL573093043 Other 307.0 300.8 301.4 301.1 300.4 300.9 301.4 300.6 300.4 18

 19 FL574190043 Pension entitlements (liabilities) (4) 3516.0 3520.6 3534.7 3526.5 3531.6 3534.8 3534.7 3534.6 3534.5 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.118.c Private Pension Funds: Defined Contribution Plans (1)

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

 1 FL574090055 Total financial assets 6540.6 6200.1 7382.1 6766.6 6966.8 7014.7 7382.1 6385.5 7242.8 1

 2 FL573020033 Checkable deposits and currency 12.0 7.9 8.2 7.9 8.0 8.1 8.2 8.4 8.4 2

 3 FL573030033 Time and savings deposits 3.8 4.0 4.0 4.0 4.0 4.0 4.0 4.1 4.1 3

 4 FL573034055 Money market fund shares 121.5 127.4 129.3 127.7 128.2 128.9 129.3 132.0 132.4 4

 5 FL572051033 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 LM574022035 Debt securities 410.5 415.6 492.4 437.1 460.6 482.8 492.4 524.6 550.0 6

 7 FL573069133 Open market paper 8.9 9.3 9.4 9.3 9.3 9.4 9.4 9.5 9.5 7

 8 LM573061133 Treasury securities 136.6 146.6 174.6 153.6 162.6 171.9 174.6 200.3 202.7 8

 9 LM573061733 Agency- and GSE-backed securities 73.1 78.4 91.9 81.7 85.7 89.7 91.9 100.5 95.2 9

 10 LM573063033 Corporate and foreign bonds 191.9 181.5 216.5 192.6 203.0 211.9 216.5 214.3 242.6 10

 11 FL573065033 Loans (mortgages) 10.8 9.5 10.8 9.8 10.1 10.5 10.8 11.5 11.7 11

 12 LM573064133 Corporate equities 1502.1 1392.5 1819.3 1586.5 1650.5 1669.8 1819.3 1445.9 1762.6 12

 13 LM573064255 Mutual fund shares 3475.2 3249.5 3845.0 3574.0 3667.4 3655.8 3845.0 3183.4 3664.7 13

 14 FL573090055 Miscellaneous assets 1004.7 993.8 1073.0 1019.5 1037.9 1054.7 1073.0 1075.7 1108.9 14

 15 FL573095505 Unallocated insurance contracts (2) 502.8 493.1 519.1 507.3 512.9 514.0 519.1 494.6 517.6 15

 16 FL573074033 Contributions receivable 35.9 37.9 41.4 38.6 39.5 40.5 41.4 43.2 43.9 16

 17 FL573093055 Other 466.0 462.8 512.6 473.6 485.5 500.1 512.6 537.9 547.4 17

 18 FL574090055 Pension entitlements (liabilities) 6540.6 6200.1 7382.1 6766.6 6966.8 7014.7 7382.1 6385.5 7242.8 18

(1) Includes 401(k) and 403(b) type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
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L.119 Federal Government Employee Retirement Funds

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL344090005 Total financial assets (1) 3907.3 3976.8 4149.8 4037.8 4073.5 4098.5 4149.8 4091.4 4174.0 1

 2 FL343020033 Checkable deposits and currency 1.0 0.8 0.6 0.7 0.7 0.7 0.6 0.6 0.5 2

 3 LM344022005 Debt securities 1753.7 2061.9 2177.0 1810.1 1738.4 2073.4 2177.0 2181.1 2184.6 3

 4 LM343061105 Treasury securities (2) 1730.1 2039.2 2150.2 1786.2 1713.1 2047.1 2150.2 2156.6 2157.5 4

 5 LM343061705 Agency- and GSE-backed securities 9.3 9.2 10.7 9.6 10.1 10.6 10.7 10.3 10.9 5

 6 LM343062033 Municipal securities 0.1 0.0 0.1 0.1 0.1 0.0 0.1 0.0 0.0 6

 7 LM343063005 Corporate and foreign bonds 14.2 13.4 16.1 14.3 15.1 15.8 16.1 14.2 16.2 7

 8 FL313169003 Loans (other loans and advances) (3) 151.7 0.0 15.8 215.3 216.7 23.1 15.8 15.7 0.0 8

 9 LM343064105 Corporate equities 324.2 292.1 370.5 331.0 341.4 339.4 370.5 277.9 342.6 9

 10 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1676.8 1622.1 1585.8 1680.6 1776.4 1661.9 1585.8 1616.1 1646.2 10

 11 FL344090005 Pension entitlements (liabilities) (5) 3907.3 3976.8 4149.8 4037.8 4073.5 4098.5 4149.8 4091.4 4174.0 11

 Memo:

 Funded status of defined benefit plans:

 12 FL344090045 Pension entitlements 3349.9 3417.9 3495.4 3437.0 3456.0 3475.0 3495.4 3511.7 3532.7 12

 13 FL342000075 Funded by assets (6) 1673.2 1795.8 1909.6 1756.4 1679.6 1813.0 1909.6 1895.5 1886.4 13

 14 FL343073045 Unfunded (line 10) 1676.8 1622.1 1585.8 1680.6 1776.4 1661.9 1585.8 1616.1 1646.2 14

 Total financial assets

 15 FL344090045 Defined benefit plans (7) 3349.9 3417.9 3495.4 3437.0 3456.0 3475.0 3495.4 3511.7 3532.7 15

 16 FL344090055 Defined contribution plans (8) 557.4 558.9 654.3 600.8 617.5 623.6 654.3 579.7 641.4 16

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of projected pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans is available on table L.119.b.

(8) Additional detail on defined contribution plans is available on table L.119.c.
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L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL344090045 Total financial assets (2) 3349.9 3417.9 3495.4 3437.0 3456.0 3475.0 3495.4 3511.7 3532.7 1

 2 FL343020033 Checkable deposits and currency 1.0 0.8 0.6 0.7 0.7 0.7 0.6 0.6 0.5 2

 3 LM344022045 Debt securities 1656.7 1780.9 1893.5 1740.9 1663.9 1797.5 1893.5 1882.0 1871.8 3

 4 LM343061165 Treasury securities (3) 1651.1 1775.8 1887.7 1735.5 1658.4 1791.9 1887.7 1877.1 1866.5 4

 5 LM343061733 Agency- and GSE-backed securities 0.9 0.9 1.1 1.0 1.0 1.0 1.1 0.9 1.0 5

 6 LM343062033 Municipal securities 0.1 0.0 0.1 0.1 0.1 0.0 0.1 0.0 0.0 6

 7 LM343063033 Corporate and foreign bonds 4.6 4.1 4.7 4.3 4.4 4.5 4.7 3.9 4.3 7

 8 LM343064135 Corporate equities 15.5 14.1 15.5 14.8 15.1 14.9 15.5 12.9 14.1 8

 9 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1676.8 1622.1 1585.8 1680.6 1776.4 1661.9 1585.8 1616.1 1646.2 9

 10 FL344190045 Pension entitlements (liabilities) (5) 3349.9 3417.9 3495.4 3437.0 3456.0 3475.0 3495.4 3511.7 3532.7 10

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Comprised primarily of nonmarketable Treasury securities.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 FL344090055 Total financial assets 557.4 558.9 654.3 600.8 617.5 623.6 654.3 579.7 641.4 1

 2 LM344022025 Debt securities 97.0 281.0 283.5 69.2 74.5 275.9 283.5 299.1 312.8 2

 3 LM343061155 Treasury securities (2) 79.0 263.4 262.5 50.6 54.7 255.1 262.5 279.5 291.0 3

 4 LM343061723 Agency- and GSE-backed securities 8.5 8.3 9.6 8.6 9.1 9.5 9.6 9.4 9.9 4

 5 LM343063023 Corporate and foreign bonds 9.5 9.3 11.4 10.0 10.7 11.3 11.4 10.2 11.9 5

 6 FL313169003 Loans (other loans and advances) (3) 151.7 0.0 15.8 215.3 216.7 23.1 15.8 15.7 0.0 6

 7 LM343064125 Corporate equities 308.7 277.9 355.0 316.2 326.3 324.6 355.0 264.9 328.5 7

 8 FL344090055 Pension entitlements (liabilities) 557.4 558.9 654.3 600.8 617.5 623.6 654.3 579.7 641.4 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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Z.1, September 21, 2020 99

L.120 State and Local Government Employee Retirement Funds

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL224090005 Total financial assets (1) 8705.2 8931.6 9201.9 8971.0 9057.1 9111.4 9201.9 9214.5 9325.9 1

 2 FL223020043 Checkable deposits and currency 30.2 28.6 20.6 19.5 25.4 26.8 20.6 20.5 20.8 2

 3 FL223030043 Time and savings deposits 2.5 2.2 4.6 0.0 1.6 1.9 4.6 4.6 5.8 3

 4 FL223034005 Money market fund shares 62.1 59.7 20.6 24.2 18.2 19.0 20.6 29.9 31.3 4

 5 FL222051043 Security repurchase agreements 4.7 4.5 7.2 3.7 3.5 11.7 7.2 7.1 7.9 5

 6 LM224022045 Debt securities 955.0 975.6 955.5 1024.4 1007.7 1006.8 955.5 971.2 951.9 6

 7 FL223069143 Open market paper 54.0 52.1 11.1 19.7 17.9 11.8 11.1 14.9 13.7 7

 8 LM223061143 Treasury securities 289.4 367.9 353.0 358.9 388.8 349.0 353.0 352.1 337.6 8

 9 LM223061743 Agency- and GSE-backed securities 109.5 141.8 170.5 144.8 153.2 179.0 170.5 181.3 160.7 9

 10 LM223062043 Municipal securities 3.4 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM223063045 Corporate and foreign bonds 498.8 409.8 420.9 501.0 447.8 467.0 420.9 422.9 439.9 11

 12 FL223065043 Loans (mortgages) 6.9 12.3 8.7 9.7 9.4 9.2 8.7 9.7 9.6 12

 13 LM223064145 Corporate equities 2706.8 2478.6 2498.4 2417.1 2505.7 2394.2 2498.4 2151.2 2553.3 13

 14 LM223064205 Mutual fund shares 481.3 445.0 378.8 322.5 357.6 388.5 378.8 301.3 351.2 14

 15 FL223090005 Miscellaneous assets 4455.6 4925.1 5307.6 5149.9 5128.0 5253.3 5307.6 5719.0 5394.1 15

 16 FL223095505 Unallocated insurance contracts (2) 240.2 233.4 253.7 245.2 249.3 249.0 253.7 232.0 245.1 16

 17 FL223073045 Claims of pension fund on sponsor (3) 4017.1 4491.6 4246.3 4354.0 4245.9 4334.1 4246.3 4796.8 4335.3 17

 18 FL223093005 Other 198.3 200.0 807.6 550.6 632.8 670.1 807.6 690.2 813.7 18

 19 FL224190005 Pension entitlements (liabilities) (4) 8790.1 9000.9 9326.6 9098.7 9174.0 9240.9 9326.6 9331.8 9439.2 19

 Memo:

 Funded status of defined benefit plans:

 20 FL224190043 Pension entitlements 8322.9 8584.8 8850.8 8650.7 8717.1 8784.1 8850.8 8917.6 8984.4 20

 21 FL222000075 Funded by assets (5) 4305.8 4093.2 4604.5 4296.7 4471.2 4450.0 4604.5 4120.9 4649.0 21

 22 FL223073045 Unfunded (line 17) 4017.1 4491.6 4246.3 4354.0 4245.9 4334.1 4246.3 4796.8 4335.3 22

 Total financial assets

 23 FL224090045 Defined benefit plans (6) 8238.0 8515.6 8726.1 8523.0 8600.3 8654.6 8726.1 8800.3 8871.1 23

 24 FL224090055 Defined contribution plans (7) 467.2 416.0 475.8 448.0 456.9 456.8 475.8 414.2 454.8 24

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of projected pension entitlements. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans is available on table L.120.b.

(7) Additional detail on defined contribution plans is available on table L.120.c.
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100 Z.1, September 21, 2020

L.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL224090045 Total financial assets (1) 8238.0 8515.6 8726.1 8523.0 8600.3 8654.6 8726.1 8800.3 8871.1 1

 2 FL223020043 Checkable deposits and currency 30.2 28.6 20.6 19.5 25.4 26.8 20.6 20.5 20.8 2

 3 FL223030043 Time and savings deposits 2.5 2.2 4.6 0.0 1.6 1.9 4.6 4.6 5.8 3

 4 FL223034043 Money market fund shares 59.2 57.2 18.0 21.7 15.6 16.4 18.0 27.0 28.4 4

 5 FL222051043 Security repurchase agreements 4.7 4.5 7.2 3.7 3.5 11.7 7.2 7.1 7.9 5

 6 LM224022045 Debt securities 955.0 975.6 955.5 1024.4 1007.7 1006.8 955.5 971.2 951.9 6

 7 FL223069143 Open market paper 54.0 52.1 11.1 19.7 17.9 11.8 11.1 14.9 13.7 7

 8 LM223061143 Treasury securities 289.4 367.9 353.0 358.9 388.8 349.0 353.0 352.1 337.6 8

 9 LM223061743 Agency- and GSE-backed securities 109.5 141.8 170.5 144.8 153.2 179.0 170.5 181.3 160.7 9

 10 LM223062043 Municipal securities 3.4 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM223063045 Corporate and foreign bonds 498.8 409.8 420.9 501.0 447.8 467.0 420.9 422.9 439.9 11

 12 FL223065043 Loans (mortgages) 6.9 12.3 8.7 9.7 9.4 9.2 8.7 9.7 9.6 12

 13 LM223064145 Corporate equities 2706.8 2478.6 2498.4 2417.1 2505.7 2394.2 2498.4 2151.2 2553.3 13

 14 LM223064243 Mutual fund shares 264.0 270.5 165.1 127.8 158.2 189.0 165.1 127.7 150.2 14

 15 FL223090045 Miscellaneous assets 4208.6 4686.1 5048.2 4899.1 4873.0 4998.6 5048.2 5481.2 5143.2 15

 16 FL223073045 Claims of pension fund on sponsor (2) 4017.1 4491.6 4246.3 4354.0 4245.9 4334.1 4246.3 4796.8 4335.3 16

 17 LM223093043 Other 191.5 194.5 801.9 545.0 627.2 664.5 801.9 684.4 807.8 17

 18 FL224190043 Pension entitlements (liabilities) (3) 8322.9 8584.8 8850.8 8650.7 8717.1 8784.1 8850.8 8917.6 8984.4 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

L.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 FL224090055 Total financial assets 467.2 416.0 475.8 448.0 456.9 456.8 475.8 414.2 454.8 1

 2 FL223034055 Money market fund shares 2.9 2.5 2.6 2.5 2.5 2.6 2.6 2.9 3.0 2

 3 LM223064255 Mutual fund shares 217.3 174.5 213.8 194.6 199.4 199.5 213.8 173.6 201.0 3

 4 FL223090055 Miscellaneous assets 247.0 239.0 259.5 250.8 254.9 254.7 259.5 237.8 250.9 4

 5 FL223095505 Unallocated insurance contracts (misc. assets) (2) 240.2 233.4 253.7 245.2 249.3 249.0 253.7 232.0 245.1 5

 6 FL223093053 Other 6.8 5.5 5.7 5.6 5.6 5.7 5.7 5.8 5.8 6

 7 FL224090055 Pension entitlements (liabilities) 467.2 416.0 475.8 448.0 456.9 456.8 475.8 414.2 454.8 7

(1) Includes 403(b) and 457 type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
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Z.1, September 21, 2020 101

L.121 Money Market Funds (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL634090005 Total financial assets 2848.4 3038.3 3634.3 3079.4 3205.9 3442.5 3634.3 4338.0 4635.9 1

 2 FL633091003 Foreign deposits 3.7 1.5 7.4 1.5 2.2 3.9 7.4 3.8 2.1 2

 3 FL633020000 Checkable deposits and currency 22.1 -43.7 1.2 -31.5 3.2 -30.3 1.2 -25.8 -45.1 3

 4 FL633030000 Time and savings deposits 178.9 190.6 258.8 225.4 258.9 255.8 258.8 239.4 215.4 4

 5 FL632051000 Security repurchase agreements 956.5 1019.5 1175.1 980.1 1133.1 1172.5 1175.1 1468.4 906.1 5

 6 FL634022005 Debt securities 1680.7 1862.3 2181.3 1895.1 1798.9 2029.8 2181.3 2568.7 3544.2 6

 7 FL633069175 Open market paper 152.6 193.7 237.2 216.3 231.7 241.9 237.2 225.4 219.0 7

 8 FL633061105 Treasury securities 702.9 873.5 1036.5 879.5 743.5 945.6 1036.5 1267.8 2349.8 8

 9 FL633061700 Agency- and GSE-backed securities 682.2 644.9 755.1 655.7 676.3 696.0 755.1 931.1 826.2 9

 10 FL633062000 Municipal securities 134.4 142.8 134.0 135.0 135.8 130.3 134.0 130.7 136.5 10

 11 FL633063005 Corporate and foreign bonds 8.5 7.5 18.5 8.7 11.7 16.1 18.5 13.8 12.7 11

 12 FL633093005 Miscellaneous assets 6.6 8.1 10.5 8.8 9.6 10.7 10.5 83.5 13.2 12

 13 FL634090005 Total shares outstanding (liabilities) 2848.4 3038.3 3634.3 3079.4 3205.9 3442.5 3634.3 4338.0 4635.9 13

 Memo:

 14 FL634090503 Variable annuity money market funds included above 32.2 38.3 35.3 35.1 35.7 35.7 35.3 46.6 44.6 14

(1) Open-end investment companies including variable annuity money market funds.

L.122 Mutual Funds (1)

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

 1 LM654090000 Total financial assets 15899.0 14669.8 17659.5 16179.6 16669.6 16694.7 17659.5 14543.1 16776.1 1

 2 FL652051003 Security repurchase agreements 98.0 81.7 102.8 105.1 107.1 102.4 102.8 107.3 102.3 2

 3 LM654022005 Debt securities 4514.5 4541.8 5186.3 4733.2 4914.9 5075.1 5186.3 4805.1 5092.4 3

 4 FL653069100 Open market paper 98.0 81.7 102.8 105.1 107.1 102.4 102.8 107.3 102.3 4

 5 LM653061105 Treasury securities 1090.8 1146.4 1310.9 1175.2 1204.1 1268.2 1310.9 1114.1 1215.6 5

 6 LM653061703 Agency- and GSE-backed securities 600.0 603.6 654.0 584.6 608.6 632.7 654.0 682.8 555.1 6

 7 LM653062003 Municipal securities 688.1 693.6 831.0 737.2 773.4 805.2 831.0 786.2 817.3 7

 8 LM653063005 Corporate and foreign bonds 2037.6 2016.6 2287.6 2131.0 2221.8 2266.5 2287.6 2114.6 2401.9 8

 9 FL653069803 Loans (other loans and advances) 173.7 163.3 144.1 155.4 149.7 146.4 144.1 140.5 137.4 9

 10 LM653064100 Corporate equities 10819.6 9657.5 11934.5 10880.2 11184.0 11073.5 11934.5 9203.8 11172.6 10

 11 FL653093005 Miscellaneous assets 293.1 225.7 291.8 305.7 313.9 297.3 291.8 286.4 271.4 11

 12 LM654090000 Total shares outstanding (liabilities) 15899.0 14669.8 17659.5 16179.6 16669.6 16694.7 17659.5 14543.1 16776.1 12

 Memo:

 13 LM654090500 Variable annuity mutual funds included above 1792.8 1590.7 1816.3 1734.3 1760.9 1738.5 1816.3 1479.3 1698.3 13

 Total financial assets by investment objective:

 14 LM654091600 Domestic equity funds 7477.7 6800.1 8438.9 7718.8 7951.5 7887.7 8438.9 6563.1 7944.9 14

 15 LM654092603 World equity funds 2827.5 2427.7 2937.3 2702.8 2765.6 2713.6 2937.3 2257.8 2664.1 15

 16 LM654091403 Hybrid funds 1547.0 1384.0 1579.0 1488.5 1514.2 1516.7 1579.0 1304.9 1449.8 16

 17 LM654091303 Taxable bond funds 3400.0 3385.6 3890.2 3551.4 3687.1 3791.6 3890.2 3644.0 3911.6 17

 18 LM654091203 Municipal bond funds 665.3 675.5 814.1 719.5 753.9 785.8 814.1 773.3 805.7 18

(1) Open-end investment companies including variable annuity mutual funds.
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L.123 Closed-End Funds

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 LM554090005 Total financial assets 277.3 252.2 278.6 268.6 272.9 274.2 278.6 231.5 254.7 1

 2 LM554022005 Debt securities 168.0 161.0 171.4 166.7 169.3 171.1 171.4 151.9 162.5 2

 3 LM553061103 Treasury securities 3.7 3.5 3.2 3.6 3.7 3.5 3.2 2.7 2.8 3

 4 LM553062003 Municipal securities 90.0 88.4 93.2 89.8 91.0 93.4 93.2 89.8 92.0 4

 5 LM553063003 Corporate and foreign bonds 74.3 69.1 75.1 73.2 74.7 74.2 75.1 59.4 67.7 5

 6 LM553064103 Corporate equities 109.3 91.2 107.2 101.9 103.6 103.0 107.2 79.6 92.1 6

 7 LM554090005 Total shares outstanding (liabilities) 277.3 252.2 278.6 268.6 272.9 274.2 278.6 231.5 254.7 7

 Memo:

 Total financial assets by investment objective:

 8 LM554091603 Domestic equity funds 79.7 67.9 79.3 76.3 76.9 77.0 79.3 58.9 67.6 8

 9 LM554092603 World equity funds 29.6 23.3 27.9 25.5 26.7 26.0 27.9 20.7 24.5 9

 10 LM554091303 Domestic taxable bond funds 57.2 52.9 57.1 56.3 57.4 57.0 57.1 45.1 51.0 10

 11 LM554091203 Municipal bond funds 90.0 88.4 93.2 89.8 91.0 93.4 93.2 89.8 92.0 11

 12 LM554092303 World bond funds 20.9 19.6 21.1 20.5 20.9 20.8 21.1 17.1 19.5 12

L.124 Exchange-Traded Funds

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

 1 LM564090005 Total financial assets 3401.0 3371.2 4396.2 3771.3 3933.4 4024.3 4396.2 3639.7 4355.7 1

 2 LM564022005 Debt securities 556.5 636.1 825.0 692.7 745.4 789.6 825.0 830.5 944.3 2

 3 LM563061103 Treasury securities 122.1 178.7 231.8 193.0 214.6 226.8 231.8 262.9 271.8 3

 4 LM563062003 Municipal securities 30.8 37.0 49.3 39.0 42.0 45.4 49.3 49.3 54.3 4

 5 LM563063003 Corporate and foreign bonds 403.6 420.5 544.0 460.7 488.8 517.5 544.0 518.3 618.2 5

 6 LM563064100 Corporate equities 2775.6 2669.2 3486.2 3010.9 3116.6 3150.6 3486.2 2715.2 3283.5 6

 7 LM563093003 Miscellaneous assets (1) 68.9 65.9 84.9 67.8 71.3 84.1 84.9 94.0 127.8 7

 8 LM564090005 Total shares outstanding (liabilities) 3401.0 3371.2 4396.2 3771.3 3933.4 4024.3 4396.2 3639.7 4355.7 8

 Memo:

 Total financial assets by investment objective:

 9 LM564091600 Domestic equity funds 1978.3 1938.6 2583.5 2190.6 2284.3 2346.3 2583.5 2035.7 2502.5 9

 10 LM564092603 World equity funds 792.4 725.4 883.9 805.2 816.3 787.0 883.9 664.2 764.1 10

 11 LM563093003 Commodity funds (1) 68.9 65.9 84.9 67.8 71.3 84.1 84.9 94.0 127.8 11

 12 LM564091403 Hybrid funds 7.8 8.7 30.1 24.2 26.1 28.3 30.1 25.2 27.9 12

 13 LM564091303 Taxable bond funds 522.9 595.7 764.8 644.7 693.6 733.4 764.8 771.5 879.3 13

 14 LM564091203 Municipal bond funds 30.7 36.9 49.0 38.8 41.8 45.2 49.0 49.1 54.1 14

(1) Investments primarily in commodities, currencies, and futures.
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L.125 Government-Sponsored Enterprises (GSEs) (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL404090005 Total financial assets 6818.9 6925.5 7127.7 6930.4 7018.1 7071.5 7127.7 7448.1 7415.0 1

 2 FL403020005 Checkable deposits and currency 49.4 36.8 34.6 35.9 36.4 34.3 34.6 142.0 71.1 2

 3 FL403030005 Time and savings deposits 7.6 20.2 15.8 12.2 14.6 11.3 15.8 16.0 13.3 3

 4 FL402050005 Federal funds and security repos 195.6 170.6 195.2 201.6 208.9 187.1 195.2 153.9 225.0 4

 5 FL404022005 Debt securities 404.0 407.0 465.4 416.7 432.2 455.7 465.4 477.7 538.1 5

 6 FL403069105 Open market paper 6.4 6.9 7.1 7.6 6.9 6.9 7.1 8.2 7.5 6

 7 FL403061105 Treasury securities 101.3 115.7 171.3 125.7 139.9 153.9 171.3 185.7 248.1 7

 8 FL403061705 Agency- and GSE-backed securities 267.6 262.5 268.2 261.9 264.8 275.4 268.2 266.3 265.1 8

 9 FL403062005 Municipal securities 4.6 3.9 3.3 3.8 3.6 3.3 3.3 3.2 2.9 9

 10 FL403063005 Corporate and foreign bonds 24.1 18.1 15.5 17.6 16.9 16.2 15.5 14.3 14.5 10

 11 FL404023005 Loans 6051.4 6195.6 6289.3 6161.1 6210.6 6247.8 6289.3 6508.2 6397.4 11

 12 FL403069305 Other loans and advances 857.7 861.9 778.6 804.5 821.1 787.3 778.6 941.1 691.6 12

 13 FL403069385 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL403069345 Farm Credit System 125.6 132.4 139.7 133.6 134.6 132.4 139.7 143.9 144.0 14

 15 FL403069330 FHLB 732.1 729.5 638.9 670.9 686.5 654.9 638.9 797.2 547.7 15

 16 FL403065005 Mortgages 5193.7 5333.8 5510.7 5356.6 5389.4 5460.5 5510.7 5567.1 5705.8 16

 17 FL403065105 One-to-four-family residential 4775.6 4883.9 5018.6 4898.8 4919.7 4974.8 5018.6 5068.3 5184.3 17

 18 FL403065195 Consolidated trusts (2) 4461.8 4620.8 4771.9 4639.3 4658.8 4710.9 4771.9 4809.9 4907.9 18

 19 FL403065185 Other 313.7 263.1 246.6 259.4 260.9 263.9 246.6 258.4 276.4 19

 20 FL403065405 Multifamily residential 307.1 332.9 364.0 338.0 347.2 360.4 364.0 368.6 388.9 20

 21 FL403065495 Consolidated trusts (2) 264.2 295.3 332.7 303.8 313.4 322.0 332.7 340.7 354.4 21

 22 FL403065485 Other 42.8 37.5 31.4 34.2 33.8 38.4 31.4 27.9 34.5 22

 23 FL403065605 Farm 111.1 117.0 128.1 119.9 122.6 125.3 128.1 130.2 132.6 23

 24 FL403066005 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FL403093005 Miscellaneous assets 111.0 95.3 127.3 102.9 115.5 135.3 127.3 150.2 170.0 25

 26 FL404190005 Total liabilities 6826.7 6909.2 7116.5 6920.5 7015.0 7070.3 7116.5 7446.8 7423.8 26

 27 FL402150005 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FL403161705 Debt securities (GSE issues) (3) 6716.3 6797.3 7002.2 6808.4 6901.8 6952.7 7002.2 7318.1 7305.1 28

 29 FL403161795 Consolidated trusts (2) 4726.1 4916.1 5104.6 4943.1 4972.1 5032.9 5104.6 5150.6 5262.3 29

 30 FL403161785 Other 1990.2 1881.2 1897.6 1865.3 1929.6 1919.8 1897.6 2167.5 2042.8 30

 31 FL403169283 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FL403190005 Miscellaneous liabilities 110.5 111.9 114.3 112.1 113.2 117.6 114.3 128.7 118.6 32

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (L.126) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets (L.125).

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Such issues are classified as agency- and GSE-backed securities.

L.126 Agency- and GSE-Backed Mortgage Pools (1)

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

 1 FL413065005 Total financial assets 2126.8 2292.6 2407.3 2315.8 2341.5 2370.2 2407.3 2431.6 2419.8 1

 2 FL413065105 One-to-four-family residential mortgages 1826.0 1949.1 2026.0 1965.1 1984.0 2001.1 2026.0 2047.5 2033.1 2

 3 FL413065405 Multifamily residential mortgages 299.1 342.1 380.2 349.3 356.0 367.7 380.2 383.0 385.7 3

 4 FL413065505 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL413065605 Farm mortgages 1.7 1.5 1.1 1.5 1.5 1.4 1.1 1.1 1.0 5

 6 FL413065005 Total pool securities (liabilities) (2) 2126.8 2292.6 2407.3 2315.8 2341.5 2370.2 2407.3 2431.6 2419.8 6

(1) Ginnie Mae, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.126) are consolidated

 on Fannie Mae’s and Freddie Mac’s balance sheets (table F.125). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed

 CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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L.127 Issuers of Asset-Backed Securities (ABS)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL674090005 Total financial assets 1138.6 1137.0 1193.4 1147.1 1146.1 1179.5 1193.4 1229.5 1216.8 1

 2 FL674022005 Debt securities 12.3 20.4 33.0 24.3 26.5 29.1 33.0 32.0 30.6 2

 3 FL673061103 Treasury securities 12.3 20.4 33.0 24.3 26.5 29.1 33.0 32.0 30.6 3

 4 FL673061703 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL674023005 Loans 1024.3 1008.5 1046.7 1012.0 1010.0 1040.1 1046.7 1077.0 1064.0 5

 6 FL673069005 Other loans and advances (2) 157.8 151.8 188.3 160.2 163.1 175.6 188.3 197.9 202.4 6

 7 FL673065005 Mortgages (3) 845.1 851.2 855.3 847.1 842.7 861.0 855.3 876.3 859.1 7

 8 FL673065105 One-to-four-family residential 474.2 467.6 451.8 466.5 467.0 469.9 451.8 458.9 444.1 8

 9 FL673065405 Multifamily residential 43.3 43.8 46.4 41.1 41.3 42.9 46.4 52.5 52.8 9

 10 FL673065505 Commercial 327.6 339.8 357.1 339.5 334.4 348.2 357.1 364.9 362.2 10

 11 FL673066000 Consumer credit 21.4 5.5 3.1 4.7 4.1 3.5 3.1 2.8 2.5 11

 12 FL673070003 Trade credit 32.5 33.9 34.6 33.3 32.9 32.5 34.6 36.9 35.5 12

 13 FL673090543 Miscellaneous assets (funding agreements) (4) 69.6 74.1 79.1 77.5 76.7 77.8 79.1 83.6 86.8 13

 14 FL674122005 Total liabilities 1138.6 1137.0 1193.4 1147.1 1146.1 1179.5 1193.4 1229.5 1216.8 14

 15 FL674122005 Debt securities 1138.6 1137.0 1193.4 1147.1 1146.1 1179.5 1193.4 1229.5 1216.8 15

 16 FL673169105 Commercial paper 65.0 80.9 75.9 82.7 84.6 79.7 75.9 80.7 86.6 16

 17 FL673163005 Corporate bonds (net) (5) 1073.6 1056.1 1117.5 1064.3 1061.5 1099.8 1117.5 1148.8 1130.2 17

 Memo:

 Securitized assets not included above

 18 FL675013263 Consumer leases (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FL643065045 REIT assets (7) 110.6 122.8 151.9 130.2 134.1 138.2 151.9 131.7 136.9 19

 Securitized liabilities not included above

 20 FL763169103 Commercial paper (8) 75.5 87.5 68.4 81.6 79.0 68.7 68.4 80.0 84.4 20

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Includes loans backing domestically-issued collateralized loan obligation (CLO) securities; loans backing U.S. CLO securities issued outside the U.S. are shown in line 15 of table L.133.

(3) Mortgages backing privately issued pool securities and privately issued CMOs.

(4) Funding agreements with life insurance companies.

(5) Liabilities net of assets.

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

 The leased automobile is a nonfinancial asset.

(7) Included on table L.129.

(8) Included on table L.111 line 44.
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L.128 Finance Companies (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL614090005 Total financial assets 1522.7 1472.3 1504.1 1491.3 1507.6 1504.1 1504.1 1459.0 1485.9 1

 2 FL613020003 Checkable deposits and currency 18.6 14.3 12.3 13.7 13.5 12.8 12.3 16.2 21.1 2

 3 FL613030003 Time and savings deposits 55.8 42.8 36.8 41.1 40.5 38.4 36.8 48.7 63.3 3

 4 LM613063003 Debt securities (corporate and foreign bonds) 63.8 55.3 60.0 54.1 53.1 56.7 60.0 58.8 61.3 4

 5 FL614023005 Loans 1052.3 1046.2 1041.5 1050.6 1053.2 1048.9 1041.5 1043.7 1014.7 5

 6 FL613069500 Other loans and advances 387.2 397.1 386.7 401.0 401.2 394.0 386.7 400.0 368.5 6

 7 FL613065000 Mortgages 123.8 114.8 117.2 120.3 118.7 118.9 117.2 115.3 111.8 7

 8 FL613066005 Consumer credit 541.3 534.4 537.6 529.4 533.3 536.0 537.6 528.4 534.3 8

 9 FL613070103 Trade receivables 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 9

 10 LM613092003 U.S. direct investment abroad 303.8 259.4 302.0 286.1 300.3 300.2 302.0 232.4 264.8 10

 11 FL613090005 Miscellaneous assets 28.3 54.4 51.5 45.7 46.9 47.0 51.5 59.2 60.0 11

 12 FL614190005 Total liabilities 1445.5 1421.3 1390.6 1421.4 1419.1 1422.1 1390.6 1410.6 1410.6 12

 13 FL614122005 Debt securities 835.1 879.2 835.4 859.2 844.9 850.0 835.4 859.4 857.7 13

 14 FL613169100 Open market paper 72.2 64.6 63.5 64.7 65.4 59.8 63.5 61.7 53.6 14

 15 FL613163005 Corporate bonds 763.0 814.6 771.8 794.5 779.5 790.2 771.8 797.6 804.1 15

 16 FL614123005 Loans 148.1 147.7 153.6 150.7 149.6 153.0 153.6 160.6 165.9 16

 17 FL613168005 Depository institution loans n.e.c. 144.7 147.1 152.7 150.1 148.9 152.1 152.7 159.6 165.3 17

 18 FL613169005 Other loans and advances 3.4 0.6 1.0 0.6 0.6 0.9 1.0 0.9 0.6 18

 19 FL613178005 Taxes payable 17.5 14.6 14.3 14.8 14.3 13.9 14.3 14.3 13.7 19

 20 LM613192003 Foreign direct investment in U.S. 99.3 100.6 102.2 112.8 120.5 126.2 102.2 83.1 98.4 20

 21 FL613190005 Miscellaneous liabilities 345.5 279.3 285.1 283.9 289.8 278.9 285.1 293.3 275.0 21

 22 FL613194003 Investment by parent 139.0 128.2 122.7 127.7 125.0 124.1 122.7 120.6 117.4 22

 23 FL613193005 Other 206.5 151.1 162.4 156.2 164.8 154.9 162.4 172.7 157.5 23

 Memo:

 24 FL613066303 Consumer leases not included above (2) 193.2 193.9 191.5 192.9 191.7 191.8 191.5 189.0 183.9 24

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (5), table L.127.
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L.129 Real Estate Investment Trusts (REITs) (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL644090005 Total financial assets 753.7 820.8 898.3 860.5 884.7 904.3 898.3 780.5 761.0 1

 2 FL643020005 Checkable deposits and currency 40.8 36.0 44.9 35.1 40.7 48.0 44.9 85.1 79.7 2

 3 FL644022005 Debt securities 297.6 324.5 386.6 355.0 377.7 384.3 386.6 246.8 242.1 3

 4 FL643061773 Agency- and GSE-backed securities 255.3 273.7 334.5 305.7 328.1 335.4 334.5 210.6 210.0 4

 5 FL643063005 Corporate and foreign bonds 42.3 50.8 52.1 49.2 49.5 48.9 52.1 36.2 32.1 5

 6 FL643065005 Loans (mortgages) 234.8 255.0 273.5 264.8 276.0 285.2 273.5 250.3 247.6 6

 7 FL643065105 One-to-four-family residential 65.1 72.8 76.0 73.4 79.3 83.6 76.0 54.5 49.6 7

 8 FL643065405 Multifamily residential 6.3 7.7 14.8 10.9 11.2 12.2 14.8 10.0 9.5 8

 9 FL643065505 Commercial 163.5 174.5 182.6 180.5 185.5 189.4 182.6 185.8 188.4 9

 10 FL643090005 Miscellaneous assets 180.5 205.3 193.3 205.7 190.3 186.8 193.3 198.3 191.5 10

 11 FL644190005 Total liabilities 1093.0 1170.4 1331.4 1237.6 1271.0 1299.1 1331.4 1237.2 1212.4 11

 12 FL642151073 Security repurchase agreements 264.3 307.6 379.5 338.3 368.6 373.0 379.5 260.5 232.8 12

 13 FL644122005 Debt securities 439.0 470.0 539.8 482.9 502.5 521.0 539.8 529.8 563.3 13

 14 FL643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL643163005 Corporate bonds 439.0 470.0 539.8 482.9 502.5 521.0 539.8 529.8 563.3 15

 16 FL644123005 Loans 288.2 275.2 264.1 266.7 261.9 260.0 264.1 301.0 267.4 16

 17 FL643168005 Depository institution loans n.e.c. 36.3 39.6 30.7 36.8 33.7 31.4 30.7 70.5 41.9 17

 18 FL643169373 Other loans and advances 9.8 9.4 8.5 9.4 8.5 8.4 8.5 4.6 1.7 18

 19 FL123165005 Mortgages 242.0 226.2 224.9 220.5 219.7 220.3 224.9 225.8 223.7 19

 20 FL643193005 Miscellaneous liabilities 101.5 117.6 148.0 149.6 138.1 145.2 148.0 145.9 149.0 20

 Memo:

 21 FL643065045 Securitized assets included above 110.6 122.8 151.9 130.2 134.1 138.2 151.9 131.7 136.9 21

 22 FL643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL643065163 One-to-four-family residential mortgages 29.9 35.1 44.6 35.0 36.4 38.7 44.6 28.1 28.3 23

 24 FL643065443 Multifamily residential mortgages 3.2 4.8 9.7 7.6 7.5 8.2 9.7 4.9 5.0 24

 25 FL643065543 Commercial mortgages 77.5 82.9 97.6 87.6 90.1 91.3 97.6 98.8 103.6 25

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables L.129.e and L.129.m.
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L.129.e Equity Real Estate Investment Trusts

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL124090005 Total financial assets 216.5 208.3 217.5 203.4 208.2 217.2 217.5 257.9 258.6 1

 2 FL123020003 Checkable deposits and currency 31.8 26.4 33.0 25.8 29.4 36.3 33.0 65.1 62.6 2

 3 FL123063003 Debt securities (corporate and foreign bonds) 7.3 10.0 11.0 9.6 10.4 10.6 11.0 10.6 12.0 3

 4 FL123065005 Loans (mortgages) 33.1 27.3 31.0 27.1 28.5 29.9 31.0 32.0 32.1 4

 5 FL123065103 One-to-four-family residential 0.3 0.3 0.2 0.3 0.3 0.3 0.2 0.2 0.2 5

 6 FL123065403 Multifamily residential 0.7 0.4 0.8 0.3 0.3 0.5 0.8 0.7 0.7 6

 7 FL123065503 Commercial 32.0 26.7 30.0 26.5 27.9 29.2 30.0 31.1 31.3 7

 8 FL123093005 Miscellaneous assets 144.3 144.6 142.5 140.9 139.8 140.4 142.5 150.3 151.9 8

 9 FL124190005 Total liabilities 663.2 668.7 740.1 697.2 712.0 730.4 740.1 786.8 785.6 9

 10 FL123163003 Debt securities (corporate bonds) 305.6 322.8 359.7 328.9 342.0 356.0 359.7 365.4 393.1 10

 11 FL124123005 Loans 273.2 260.6 253.7 252.8 250.4 249.6 253.7 292.7 262.6 11

 12 FL123168003 Depository institution loans n.e.c. 31.2 34.3 28.8 32.3 30.7 29.3 28.8 66.9 38.8 12

 13 FL123165005 Mortgages 242.0 226.2 224.9 220.5 219.7 220.3 224.9 225.8 223.7 13

 14 FL123165403 Multifamily residential 28.4 24.0 22.8 22.7 22.4 21.9 22.8 23.4 23.8 14

 15 FL123165503 Commercial 213.6 202.3 202.1 197.8 197.3 198.4 202.1 202.4 200.0 15

 16 FL123193005 Miscellaneous liabilities 84.3 85.3 126.7 115.4 119.6 124.8 126.7 128.8 130.0 16

L.129.m Mortgage Real Estate Investment Trusts

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

 1 FL644090075 Total financial assets 537.2 612.4 680.8 657.1 676.5 687.1 680.8 522.6 502.3 1

 2 FL643020073 Checkable deposits and currency 9.0 9.6 12.0 9.3 11.2 11.6 12.0 20.0 17.1 2

 3 FL644022075 Debt securities 290.2 314.5 375.6 345.3 367.2 373.7 375.6 236.2 230.1 3

 4 FL643061773 Agency- and GSE-backed securities 255.3 273.7 334.5 305.7 328.1 335.4 334.5 210.6 210.0 4

 5 FL643063073 Corporate and foreign bonds 35.0 40.8 41.1 39.6 39.1 38.3 41.1 25.6 20.1 5

 6 FL643065075 Loans (mortgages) 201.8 227.7 242.5 237.7 247.5 255.3 242.5 218.4 215.5 6

 7 FL643065173 One-to-four-family residential 64.8 72.5 75.9 73.1 79.0 83.4 75.9 54.3 49.4 7

 8 FL643065473 Multifamily residential 5.6 7.3 13.9 10.6 10.9 11.7 13.9 9.3 8.9 8

 9 FL643065573 Commercial 131.4 147.8 152.7 154.0 157.6 160.2 152.7 154.7 157.2 9

 10 FL643090075 Miscellaneous assets 36.2 60.7 50.8 64.8 50.5 46.5 50.8 48.0 39.6 10

 11 FL644190075 Total liabilities 429.8 501.7 591.3 540.4 559.0 568.8 591.3 450.4 426.8 11

 12 FL642151073 Security repurchase agreements 264.3 307.6 379.5 338.3 368.6 373.0 379.5 260.5 232.8 12

 13 FL644122075 Debt securities 133.4 147.2 180.1 154.0 160.5 165.0 180.1 164.4 170.2 13

 14 FL643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL643163075 Corporate bonds 133.4 147.2 180.1 154.0 160.5 165.0 180.1 164.4 170.2 15

 16 FL644123075 Loans 14.9 14.7 10.4 13.9 11.5 10.4 10.4 8.3 4.8 16

 17 FL643168073 Depository institution loans n.e.c. 5.1 5.3 1.9 4.5 3.0 2.0 1.9 3.7 3.1 17

 18 FL643169373 Other loans and advances 9.8 9.4 8.5 9.4 8.5 8.4 8.5 4.6 1.7 18

 19 FL643193075 Miscellaneous liabilities 17.2 32.3 21.3 34.2 18.5 20.4 21.3 17.2 19.0 19

 Memo:

 20 FL643065045 Securitized assets included above 110.6 122.8 151.9 130.2 134.1 138.2 151.9 131.7 136.9 20

 21 FL643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL643065163 One-to-four-family residential mortgages 29.9 35.1 44.6 35.0 36.4 38.7 44.6 28.1 28.3 22

 23 FL643065443 Multifamily residential mortgages 3.2 4.8 9.7 7.6 7.5 8.2 9.7 4.9 5.0 23

 24 FL643065543 Commercial mortgages 77.5 82.9 97.6 87.6 90.1 91.3 97.6 98.8 103.6 24
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L.130 Security Brokers and Dealers

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL664090005 Total financial assets 3097.2 3358.9 3468.6 3354.8 3486.9 3588.4 3468.6 3750.0 3506.6 1

 2 FL663020003 Checkable deposits and currency 119.0 126.2 125.2 108.8 118.9 119.0 125.2 162.0 139.0 2

 3 FL662051003 Security repurchase agreements 1109.0 1315.2 1396.0 1318.5 1363.2 1466.5 1396.0 1483.0 1282.2 3

 4 LM664022005 Debt securities 306.1 443.9 412.6 434.0 449.7 449.7 412.6 470.4 464.0 4

 5 FL663069103 Open market paper 9.3 11.4 8.5 13.9 12.0 13.8 8.5 20.7 13.0 5

 6 LM663061105 Treasury securities 144.6 276.4 229.5 261.0 258.9 238.3 229.5 258.3 254.2 6

 7 LM663061703 Agency- and GSE-backed securities 54.1 72.3 104.1 82.0 104.2 109.4 104.1 122.2 127.2 7

 8 LM663062003 Municipal securities 26.7 20.7 16.4 16.4 18.4 20.4 16.4 13.7 8.7 8

 9 LM663063005 Corporate and foreign bonds 71.4 63.0 54.0 60.6 56.3 67.8 54.0 55.5 60.9 9

 10 FL663069005 Loans (other loans and advances) 399.3 375.5 410.6 368.7 389.0 392.1 410.6 431.9 410.1 10

 11 LM663064103 Corporate equities 182.7 147.7 166.7 158.8 180.1 175.5 166.7 144.7 180.4 11

 12 LM663092003 U.S. direct investment abroad 287.7 221.6 286.0 250.0 259.8 256.7 286.0 224.1 252.7 12

 13 FL663090005 Miscellaneous assets 693.4 728.8 671.6 715.9 726.2 729.0 671.6 834.0 778.3 13

 14 FL664190005 Total liabilities 3032.4 3272.0 3404.9 3299.0 3430.6 3535.8 3404.9 3611.9 3380.2 14

 15 FL662151003 Security repurchase agreements 1392.5 1698.4 1755.0 1689.3 1781.4 1873.7 1755.0 1815.9 1680.4 15

 16 FL663163003 Debt securities (corporate bonds) 185.7 184.0 174.0 181.9 205.9 183.3 174.0 256.9 179.7 16

 17 FL664123005 Loans 880.6 882.7 906.1 871.8 881.0 914.2 906.1 1114.0 1033.6 17

 18 FL663168005 Depository institution loans n.e.c. 120.2 124.0 127.3 121.5 123.8 126.6 127.3 191.3 129.8 18

 19 FL153067005 Other loans and advances 760.4 758.7 778.8 750.3 757.1 787.6 778.8 922.7 903.8 19

 20 FL663170003 Trade payables 44.6 16.8 15.8 14.9 15.0 15.5 15.8 20.1 17.8 20

 21 FL663178005 Taxes payable 13.5 14.1 12.7 14.7 14.6 14.3 12.7 14.0 16.1 21

 22 LM663192005 Foreign direct investment in U.S. 160.0 136.9 179.3 167.7 176.2 187.0 179.3 114.5 131.2 22

 23 FL663190005 Miscellaneous liabilities 355.5 339.2 362.1 358.6 356.6 347.7 362.1 276.5 321.4 23

 24 FL663194005 Investment by parent companies 1645.8 1660.2 1737.1 1699.4 1702.6 1722.5 1737.1 1727.9 1759.2 24

 25 FL663193005 Other -1290.3 -1321.1 -1375.0 -1340.8 -1345.9 -1374.7 -1375.0 -1451.4 -1437.8 25
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Z.1, September 21, 2020 109

L.131 Holding Companies (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL734090005 Total financial assets 3858.3 3840.7 4003.1 3917.7 4022.4 4023.7 4003.1 4064.5 4170.0 1

 2 FL733030003 Time and savings deposits 13.3 11.0 11.1 17.1 16.2 12.8 11.1 10.2 10.8 2

 3 FL732051003 Security repurchase agreements 5.7 1.7 2.1 1.5 1.3 1.2 2.1 2.1 22.2 3

 4 LM734022605 Debt securities 67.2 97.4 132.0 100.9 110.7 128.6 132.0 123.4 127.4 4

 5 LM733061103 Treasury securities 22.2 34.8 58.2 34.3 39.6 55.9 58.2 54.3 55.5 5

 6 LM733061703 Agency- and GSE-backed securities 27.3 41.5 44.9 44.0 43.9 42.9 44.9 41.9 39.4 6

 7 LM733063003 Corporate and foreign bonds 17.7 21.0 28.9 22.6 27.3 29.9 28.9 27.3 32.5 7

 8 FL733069005 Loans (other loans and advances) 123.1 104.3 117.7 107.2 112.9 125.9 117.7 128.7 119.0 8

 9 FL733040005 Life insurance reserves 57.0 61.0 65.0 62.0 63.0 64.0 65.0 66.0 67.0 9

 10 FL733090005 Miscellaneous assets 3592.0 3565.4 3675.2 3629.0 3718.3 3691.3 3675.2 3734.1 3823.5 10

 11 FL763194735 Net trans. with depository affiliates 2495.7 2500.5 2603.5 2517.4 2584.3 2574.1 2603.5 2618.7 2743.8 11

 12 FL513194733 Net trans. with property-casualty ins. co. affiliates 4.8 6.0 6.8 6.3 6.8 6.7 6.8 6.7 1.9 12

 13 FL543194733 Net trans. with life insurance company affiliates 15.8 4.8 5.9 5.2 5.7 5.9 5.9 0.0 0.0 13

 14 FL613194733 Net trans. with finance company affiliates 28.4 15.0 10.2 13.0 12.4 11.9 10.2 9.3 9.1 14

 15 FL663194735 Net trans. with broker and dealer affiliates 975.9 952.6 987.3 976.8 996.3 989.2 987.3 1053.2 1002.1 15

 16 FL263194735 Net trans. with foreign affiliates -6.6 18.3 17.1 42.6 45.5 48.7 17.1 5.6 22.8 16

 17 FL733093005 Other 78.1 68.1 44.4 67.5 67.3 54.9 44.4 40.6 43.7 17

 18 FL734190005 Total liabilities 1615.8 1568.0 1644.7 1611.7 1657.9 1652.1 1644.7 1725.8 1836.9 18

 19 FL732151003 Security repurchase agreements 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL734122005 Debt securities 1448.6 1401.7 1449.7 1441.2 1479.2 1471.9 1449.7 1542.5 1606.9 20

 21 FL733169103 Commercial paper 4.4 5.9 5.9 6.2 6.4 3.8 5.9 5.4 4.9 21

 22 FL733163003 Corporate bonds 1444.2 1395.8 1443.8 1435.0 1472.8 1468.1 1443.8 1537.1 1602.1 22

 23 LM733192003 Foreign direct investment in U.S. (2) 189.8 180.0 181.0 184.7 188.9 179.5 181.0 183.5 223.6 23

 24 FL733193005 Miscellaneous liabilities -22.7 -13.7 14.0 -14.2 -10.2 0.7 14.0 -0.3 6.3 24

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.

(2) Investment in U.S. Intermediate Holding Companies.
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110 Z.1, September 21, 2020

L.132 Other Financial Business (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL504090005 Total financial assets 1354.0 1436.4 1511.3 1568.2 1524.1 1496.2 1511.3 1620.7 1746.5 1

 2 FL713129005 Checkable deposits and currency 65.7 62.3 61.2 54.3 53.0 65.5 61.2 159.3 132.6 2

 3 FL503034005 Money market fund shares 227.2 242.8 337.6 282.5 294.8 314.6 337.6 388.3 417.2 3

 4 FL502051003 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL504022005 Debt securities 292.5 282.3 224.1 351.7 328.1 243.5 224.1 249.2 297.8 5

 6 FL503069105 Open market paper 219.9 211.6 153.2 279.4 255.0 169.4 153.2 172.4 122.1 6

 7 FL503061303 Nonmarketable Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 95.6 7

 8 FL503063005 Corporate and foreign bonds 72.6 70.7 70.9 72.3 73.1 74.0 70.9 76.8 78.9 8

 9 FL503062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.2 9

 10 FL503069005 Loans (other loans and advances) 19.0 18.3 19.0 18.7 19.6 20.5 19.0 26.8 22.5 10

 11 FL503064105 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.0 11

 12 FL503094505 Miscellaneous assets 749.6 830.7 869.4 861.1 828.6 852.0 869.4 797.1 868.5 12

 13 FL753194503 Investment in foreign banking offices 79.7 123.1 119.5 138.5 122.4 118.7 119.5 122.4 111.5 13

 14 FL663194505 Investment in brokers and dealers 669.9 707.6 749.8 722.6 706.2 733.3 749.8 674.7 757.0 14

 15 FL504190005 Total liabilities 1354.0 1436.4 1511.3 1568.2 1524.1 1496.2 1511.3 1620.7 1746.5 15

 16 FL504122005 Debt securities 776.5 821.2 859.1 849.6 830.7 846.2 859.1 782.0 854.6 16

 17 FL503169105 Open market paper 142.1 151.4 145.7 169.3 166.0 150.6 145.7 143.1 130.1 17

 18 FL503163005 Corporate bonds 634.4 669.7 713.4 680.3 664.7 695.6 713.4 638.9 724.5 18

 19 FL504123005 Loans 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 17.7 19

 20 FL713068505 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 20

 21 FL503169205 Other loans and advances 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 21

 22 FL503192003 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL503190005 Miscellaneous liabilities 575.1 612.9 649.8 716.3 691.0 647.6 649.8 836.3 874.2 23

 24 FL663097005 Securities loaned (net) 702.7 683.8 685.5 699.0 707.7 716.6 685.5 744.0 747.2 24

 25 LM503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FL503194205 Equity in Federal Reserve facilities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112.5 26

 27 FL503193005 Other (net) -127.5 -70.9 -35.6 17.3 -16.8 -69.0 -35.6 92.3 14.5 27

(1) Includes funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, funds associated with the Public-Private Investment Program (PPIP), Federal Reserve funding,

 credit, and liquidity facility special purpose vehicles (SPV) created in response to the 2008 Financial Crisis and COVID-19 pandemic, and deposits at Federal Reserve banks of Federal Reserve SPVs and

 designated financial market utilities (DFMU).

(2) U.S. Treasury Exchange Stabilization Fund Economic Recovery Programs equity investment in Federal Reserve SPVs.
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Z.1, September 21, 2020 111

L.133 Rest of the World

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL264090005 Total financial assets 30413.7 29967.3 34766.3 32070.4 33035.7 33448.1 34766.3 32100.9 35464.9 1

 2 LM313111303 SDR allocations 50.3 49.1 48.8 49.0 49.1 48.1 48.8 48.2 48.6 2

 3 FL264016005 Net interbank assets 158.0 206.8 122.8 122.7 95.9 109.7 122.8 472.7 286.9 3

 4 FL263020005 U.S. checkable deposits and currency 848.5 928.0 985.6 930.3 950.7 969.5 985.6 1058.3 1072.3 4

 5 FL263030005 U.S. time deposits 564.6 601.9 596.4 597.0 607.7 603.1 596.4 699.9 668.7 5

 6 FL263034003 Money market fund shares 93.4 110.7 129.5 112.5 114.3 122.7 129.5 154.6 165.2 6

 7 FL262051005 Security repurchase agreements 1002.6 971.7 1055.3 1068.2 1088.7 1095.7 1055.3 1179.4 1059.4 7

 8 LM264022005 Debt securities 11341.9 11186.0 12070.9 11573.1 11821.4 12094.6 12070.9 12036.9 12501.1 8

 9 LM263069103 Open market paper 135.4 124.7 130.3 116.4 115.7 137.1 130.3 115.0 126.1 9

 10 LM263061105 Treasury securities 6211.3 6270.1 6690.8 6474.0 6625.9 6773.4 6690.8 6810.3 6892.3 10

 11 LM263061705 Agency- and GSE-backed securities 1012.2 1087.0 1182.1 1117.6 1152.1 1171.2 1182.1 1259.3 1198.9 11

 12 FL263062003 Municipal securities 101.3 99.7 103.7 100.9 101.3 102.5 103.7 102.9 107.3 12

 13 LM263063005 U.S. corporate bonds (1) 3881.7 3604.4 3964.0 3764.1 3826.5 3910.4 3964.0 3749.5 4176.5 13

 14 FL263069500 Loans to U.S. corporate business 375.8 733.3 830.8 777.0 794.6 797.8 830.8 877.7 880.9 14

 15 FL263069563 Of which: loans held by CLOs (2) ND 459.1 522.6 483.2 501.4 502.7 522.6 532.6 557.2 15

 16 LM263064105 U.S. corporate equities 7019.4 6629.5 8196.8 7243.4 7621.2 7618.3 8196.8 6714.7 8189.8 16

 17 LM263064203 Mutual fund shares 828.7 799.0 893.9 909.0 874.9 867.4 893.9 778.9 847.0 17

 18 LM263070005 Trade receivables 299.6 332.7 349.0 341.9 342.8 344.9 349.0 356.5 360.4 18

 19 FL543141905 Life insurance reserves 19.7 10.4 10.7 10.5 10.6 10.7 10.7 10.9 10.9 19

 20 FL543151905 Pension entitlements 4.3 15.4 16.0 15.5 15.6 15.9 16.0 16.7 16.6 20

 21 LM263092001 Foreign direct investment in U.S. (3) 7756.7 7333.5 9398.4 8261.2 8588.0 8689.4 9398.4 7633.6 9294.2 21

 22 FL263076005 Miscellaneous assets (insurance receivables) 50.1 59.2 61.3 59.4 60.1 60.4 61.3 61.7 62.9 22

 23 FL264190005 Total liabilities 13943.5 12803.2 14784.2 13680.1 14125.8 14295.4 14784.2 13378.2 14188.8 23

 24 LM263111005 U.S. official reserve assets (4) 112.1 114.6 118.3 114.0 117.2 116.5 118.3 116.7 122.7 24

 25 LM263191005 U.S. private deposits 760.5 826.9 794.4 834.1 815.8 838.1 794.4 977.6 955.3 25

 26 FL262151003 Security repurchase agreements 872.6 989.0 1221.2 1163.1 1165.6 1291.3 1221.2 1318.9 1284.6 26

 27 LM264122005 Debt securities 3344.0 3406.1 3804.5 3460.3 3608.0 3703.2 3804.5 3488.0 3578.0 27

 28 FL263169105 Commercial paper 362.0 368.3 452.8 387.7 413.9 456.2 452.8 423.6 437.7 28

 29 LM263163005 Bonds 2982.0 3037.7 3351.7 3072.6 3194.1 3247.0 3351.7 3064.4 3140.2 29

 30 LM263163063 Of which: CLO securities (2) 350.2 416.8 479.1 427.4 446.4 462.0 479.1 484.1 493.5 30

 31 FL264123005 Loans 543.7 597.3 689.2 606.3 646.2 676.8 689.2 777.2 740.0 31

 32 FL263168005 Depository institution loans n.e.c. 487.3 546.7 631.5 547.5 589.0 619.6 631.5 714.2 685.2 32

 33 FL263169005 Other loans and advances 56.4 50.6 57.7 58.8 57.1 57.2 57.7 63.0 54.8 33

 34 LM263170005 Trade payables 77.1 79.4 81.4 77.8 77.5 82.6 81.4 79.1 76.3 34

 35 FL263140005 Life insurance reserves 98.1 66.6 68.3 66.9 67.3 68.2 68.3 69.7 69.3 35

 36 FL263150005 Pension entitlements 18.9 77.5 80.8 78.2 79.0 80.3 80.8 84.2 83.8 36

 37 LM263192005 U.S. direct investment abroad (1,3) 7865.0 6375.7 7650.0 6987.2 7251.9 7136.3 7650.0 5845.8 6768.0 37

 38 FL263190005 Miscellaneous liabilities 251.4 270.2 276.1 292.2 297.2 302.2 276.1 621.0 510.8 38

 39 FL313092803 U.S. equity in IBRD, etc. 64.8 66.1 67.5 66.1 67.4 67.5 67.5 68.8 68.8 39

 40 FL263191103 Nonofficial foreign currencies 14.7 6.8 6.4 4.0 2.6 3.6 6.4 360.3 229.5 40

 41 FL263194735 Net investment by holding companies -6.6 18.3 17.1 42.6 45.5 48.7 17.1 5.6 22.8 41

 42 FL263195105 Accident and health insurance reserves 19.3 17.8 18.6 18.0 18.1 18.3 18.6 18.6 18.7 42

 43 FL263176005 Policy payables 159.3 161.1 166.6 161.5 163.5 164.2 166.6 167.7 170.9 43

 Memo:

 Market value of foreign equities

 44 LM263164100 held by U.S. residents (5) 9118.1 7899.6 9459.1 8687.2 8894.6 8720.9 9459.1 7361.2 8482.0 44

 Financial derivatives (6)

 45 FL263098013 Gross positive fair value 1523.2 1407.5 1770.3 1464.5 1756.4 2047.9 1770.3 2965.2 ND 45

 46 FL263198013 Gross negative fair value 1560.8 1449.6 1790.4 1500.1 1772.2 2078.3 1790.4 3000.5 ND 46

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

(2) Collateralized loan obligations.

(3) Direct investment is valued on a market value basis.

(4) Does not include monetary gold.

(5) Includes American Depositary Receipts (ADRs).

(6) Financial derivatives are not included above.
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112 Z.1, September 21, 2020

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 LM893111005 Total liabilities 162.4 163.7 167.1 163.0 166.3 164.6 167.1 164.9 171.3 1

 2 LM313111303 Federal government: SDR allocations 50.3 49.1 48.8 49.0 49.1 48.1 48.8 48.2 48.6 2

 3 LM263111005 Rest of the world 112.1 114.6 118.3 114.0 117.2 116.5 118.3 116.7 122.7 3

 4 LM313011303 SDR holdings 51.9 50.8 50.7 50.8 50.9 50.0 50.7 50.1 50.6 4

 5 LM263111403 Reserve position in IMF 17.6 22.0 26.2 22.1 24.4 25.6 26.2 25.5 30.6 5

 6 LM263111503 Other reserves 42.6 41.8 41.4 41.1 41.9 40.8 41.4 41.1 41.5 6

 7 FL893011005 Total assets 173.4 174.8 178.2 174.1 177.3 175.6 178.2 176.0 182.4 7

 8 FL313011005 Federal government 91.0 93.9 97.8 93.6 96.4 96.2 97.8 96.4 102.1 8

 9 FL313011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM313011303 SDR holdings 51.9 50.8 50.7 50.8 50.9 50.0 50.7 50.1 50.6 10

 11 LM313011405 Reserve position in IMF 17.9 22.3 26.4 22.4 24.6 25.9 26.4 25.8 30.9 11

 12 LM313011505 Other reserves 21.2 20.8 20.6 20.5 20.9 20.3 20.6 20.5 20.7 12

 13 LM313111303 Rest of the world: SDR allocations 50.3 49.1 48.8 49.0 49.1 48.1 48.8 48.2 48.6 13

 14 FL713011005 Monetary authority 32.2 31.8 31.6 31.4 31.8 31.3 31.6 31.4 31.6 14

 15 FL713011203 Monetary gold (2) 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 FL713011405 Reserve position in IMF -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 16

 17 LM713011505 Other reserves 21.4 21.0 20.8 20.7 21.0 20.5 20.8 20.6 20.9 17

 18 FL903011005 Discrepancy: monetary gold -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

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

 SDR certificates:

 1 FL713014003 Liab: Federal government 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1

 2 FL713014003 Asset: Monetary authority 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 2

 Treasury currency:

 3 FL313112003 Liab: Federal government 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25.3 3

 4 FL713012003 Asset: Monetary authority 49.4 49.8 50.1 49.9 49.9 50.0 50.1 50.2 50.3 4

 5 FL903012005 Discrepancy (seigniorage) -24.1 -24.4 -24.7 -24.5 -24.6 -24.7 -24.7 -24.9 -24.9 5

L.202 U.S. Deposits in Foreign Countries

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

 1 LM263191005 Total rest of the world liability 760.5 826.9 794.4 834.1 815.8 838.1 794.4 977.6 955.3 1

 Held by:

 2 LM153091003 Household sector 39.1 42.0 41.0 41.3 39.8 39.7 41.0 50.4 50.2 2

 3 FL103091003 Nonfinancial corporate business 216.6 106.3 116.6 107.7 119.8 102.2 116.6 122.3 153.6 3

 4 FL633091003 Money market funds 3.7 1.5 7.4 1.5 2.2 3.9 7.4 3.8 2.1 4

 5 FL903091005 Discrepancy--unallocated assets 501.1 677.0 629.4 683.7 654.0 692.2 629.4 801.1 749.3 5
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Z.1, September 21, 2020 113

L.203 Net Interbank Transactions

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL794110005 Total liabilities 2165.0 1810.9 1710.9 1746.8 1548.1 1560.4 1710.9 3060.5 3207.7 1

 2 FL714110005 Monetary authority 2026.2 1638.0 1632.3 1650.7 1492.9 1497.6 1632.3 2573.3 2879.0 2

 3 FL764110005 U.S.-chartered depository institutions 52.6 21.5 5.5 -18.1 14.5 -10.0 5.5 61.8 125.3 3

 4 FL754110005 Foreign banking offices in U.S. 129.6 191.1 113.8 148.7 79.5 115.3 113.8 470.6 243.2 4

 5 FL744110005 Banks in U.S.-affiliated areas -1.0 -1.3 -1.6 -1.3 -1.4 -1.5 -1.6 -1.9 -2.0 5

 6 FL474110005 Credit unions -42.4 -38.4 -39.1 -33.2 -37.4 -41.0 -39.1 -43.3 -37.9 6

 7 FL894010005 Total assets 2183.3 1844.1 1754.5 1772.6 1588.1 1606.6 1754.5 3122.0 3248.6 7

 8 FL714010005 Monetary authority -0.8 -0.7 -0.6 -0.8 -0.7 -0.6 -0.6 76.0 82.7 8

 9 FL763020005 U.S.-chartered depository institutions 1239.1 970.5 990.8 968.4 878.2 908.5 990.8 1575.5 2059.1 9

 10 FL753020005 Foreign banking offices in U.S. 710.1 598.6 554.1 577.3 523.8 505.7 554.1 873.8 644.6 10

 11 FL743013003 Banks in U.S.-affiliated areas 7.8 6.0 4.4 6.6 5.1 7.3 4.4 8.0 13.4 11

 12 FL473013005 Credit unions 69.3 62.9 83.0 98.3 85.9 76.1 83.0 116.0 162.0 12

 13 FL264016005 Rest of the world 158.0 206.8 122.8 122.7 95.9 109.7 122.8 472.7 286.9 13

 14 FL904010005 Discrepancy -18.4 -33.3 -43.6 -25.8 -40.0 -46.2 -43.6 -61.5 -41.0 14

 Memo:

 Vault cash:

 15 FL703025005 Liab.: Monetary authority 77.2 82.0 83.4 69.9 71.5 70.3 83.4 99.0 92.0 15

 16 FL763025000 Asset: U.S.-chartered depository institutions 77.2 82.0 83.4 69.9 71.5 70.3 83.4 99.0 92.0 16

 17 FL753025003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 Depository institution reserves:

 18 FL713113003 Liab.: Monetary authority 1949.0 1556.0 1548.8 1580.8 1421.5 1427.3 1548.8 2474.3 2787.0 18

 19 FL763013005 Asset: U.S.-chartered depository institutions 1161.9 888.4 907.3 898.6 806.7 838.2 907.3 1476.5 1967.1 19

 20 FL753013003 Foreign banking offices in U.S. 710.1 598.6 554.1 577.3 523.8 505.7 554.1 873.8 644.6 20

 21 FL743013003 Banks in U.S.-affiliated areas 7.8 6.0 4.4 6.6 5.1 7.3 4.4 8.0 13.4 21

 22 FL473013005 Credit unions 69.3 62.9 83.0 98.3 85.9 76.1 83.0 116.0 162.0 22

 Other transactions with the monetary authority

 23 FL714010075 Liab: U.S.-chartered depository institutions -0.8 -0.7 -0.6 -0.8 -0.7 -0.6 -0.6 76.0 82.2 23

 24 FL713068743 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 24

 25 FL714010005 Asset: Monetary authority -0.8 -0.7 -0.6 -0.8 -0.7 -0.6 -0.6 76.0 82.7 25

 26 FL713022003 Federal Reserve float -0.9 -0.8 -0.6 -0.8 -0.8 -0.7 -0.6 -0.7 -0.7 26

 27 FL713068705 Loans to depository institutions 0.1 0.1 0.0 0.0 0.1 0.1 0.0 76.6 83.5 27

 Transactions with banks in foreign countries (net):

 28 FL764116205 Liab.: U.S.-chartered depository institutions (net) 84.1 65.9 46.9 21.6 57.9 33.4 46.9 48.9 80.9 28

 29 FL763192605 Due to foreign affiliates 384.9 347.1 369.1 351.4 370.5 349.6 369.1 413.0 420.8 29

 30 FL763092605 - Due from foreign affiliates 300.8 281.2 322.2 329.8 312.6 316.2 322.2 364.1 340.0 30

 31 FL754116205 Foreign banking offices in U.S. (net) 158.7 225.7 151.2 176.8 111.8 148.2 151.2 500.1 263.3 31

 32 FL753192605 Due to foreign affiliates 1016.7 982.1 982.1 958.2 904.3 933.3 982.1 1311.6 1112.5 32

 33 FL753092605 - Due from foreign affiliates 858.0 756.4 830.9 781.5 792.6 785.1 830.9 811.6 849.2 33

 34 FL264116205 Less: Deposits at foreign banks 28.0 30.3 26.8 28.5 26.8 28.2 26.8 29.0 27.1 34

 35 FL764016205 U.S.-chartered depository institutions 14.4 17.8 15.2 17.7 15.4 17.1 15.2 19.0 19.7 35

 36 FL754016205 Foreign banking offices in U.S. 13.6 12.4 11.6 10.7 11.4 11.0 11.6 10.0 7.4 36

 37 FL264135125 Loans to foreign banks 75.2 72.0 69.8 67.0 67.0 66.9 69.8 68.7 56.4 37

 38 FL764035125 U.S.-chartered depository institutions 28.9 28.9 28.9 26.5 26.2 27.2 28.9 29.9 24.0 38

 39 FL754035125 Foreign banking offices in U.S. 46.3 43.1 40.8 40.5 40.8 39.8 40.8 38.8 32.3 39

 40 FL264035125 Plus: Loans from foreign banks 18.3 17.5 21.3 19.8 19.9 23.1 21.3 21.5 26.2 40

 41 FL274135123 U.S.-chartered depository institutions 9.4 9.2 11.8 9.7 9.9 12.7 11.8 11.5 15.3 41

 42 FL284135125 Foreign banking offices in U.S. 8.9 8.3 9.5 10.1 10.0 10.4 9.5 9.9 10.8 42

 43 FL264016005 Asset: Rest of the world (1) 158.0 206.8 122.8 122.7 95.9 109.7 122.8 472.7 286.9 43

 Transactions between U.S. depository institutions (net):

 44 FL764112005 U.S.-chartered depository institutions (net) 3.1 -6.1 -8.5 -4.4 -11.0 -11.2 -8.5 -25.7 -9.4 44

 45 FL764112205 Due to (3): 54.1 33.3 23.5 36.6 26.7 23.6 23.5 11.4 24.5 45

 46 FL754012205 Foreign banking offices in U.S. 29.0 26.8 26.4 28.0 27.8 27.3 26.4 27.6 25.1 46

 47 FL743020005 Banks in U.S.-affiliated areas 1.0 1.3 1.6 1.3 1.4 1.5 1.6 1.9 2.0 47

 48 FL474012205 Credit unions 42.4 38.4 39.1 33.2 37.4 41.0 39.1 43.3 38.4 48

 49 FL754112205 - Due from: Foreign banking offices in U.S. 50.9 39.4 32.0 41.1 37.7 34.8 32.0 37.0 33.9 49

 50 FL904010005 Unallocated (2) -18.4 -33.3 -43.6 -25.8 -40.0 -46.2 -43.6 -61.5 -41.0 50

(1) Sum of lines 28 and 31 less line 34 and line 37 plus line 40.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 13 above. However, the unallocated amount (line 50), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 46, 47, 48, and 50.
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114 Z.1, September 21, 2020

L.204 Checkable Deposits and Currency

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL793120005 Total liabilities 4268.3 4583.7 4845.1 4471.4 4461.9 4670.4 4845.1 5756.1 7650.8 1

 2 FL713120005 Monetary authority 1858.2 2117.6 2207.3 2054.4 2001.4 2154.0 2207.3 2593.2 3792.0 2

 3 FL713123005 Federal government cash and deposits 229.1 402.4 404.0 334.3 263.9 382.7 404.0 515.6 1722.1 3

 4 FL713124005 Due to government-sponsored enterprises 17.2 10.5 12.5 6.8 7.7 8.5 12.5 121.1 43.1 4

 5 FL713129005 Due to other financial business 65.7 62.3 61.2 54.3 53.0 65.5 61.2 159.3 132.6 5

 6 FL713122605 Deposits due to foreign 5.3 5.3 5.2 5.3 5.3 5.2 5.2 17.4 16.3 6

 7 FL713125005 Currency outside banks 1540.8 1637.2 1724.2 1653.7 1671.6 1692.1 1724.2 1779.7 1878.0 7

 8 FL763127005 U.S.-chartered depository institutions 2015.4 2053.7 2191.5 1992.3 2027.2 2072.0 2191.5 2649.7 3304.6 8

 9 FL763123005 Federal government deposits 1.9 1.8 1.6 1.6 1.6 2.0 1.6 1.7 1.9 9

 10 FL763128000 State and local government deposits 140.6 132.9 139.1 131.3 129.0 128.6 139.1 142.3 167.3 10

 11 FL763122605 Deposits due to foreign 59.4 74.4 84.3 73.6 87.0 84.7 84.3 97.8 80.6 11

 12 FL763129205 Private domestic deposits 1813.6 1844.6 1966.4 1785.8 1809.6 1856.7 1966.4 2408.0 3054.7 12

 13 FL753127005 Foreign banking offices in U.S. 185.0 177.8 188.5 190.6 197.2 193.9 188.5 236.8 239.2 13

 14 FL753122603 Deposits due to foreign 75.2 74.4 70.9 72.3 70.0 71.9 70.9 91.9 94.7 14

 15 FL753129205 Private domestic deposits 109.8 103.3 117.6 118.3 127.3 121.9 117.6 144.9 144.5 15

 16 FL743127003 Banks in U.S.-affiliated areas 37.4 40.9 45.7 41.0 43.3 46.7 45.7 45.5 53.3 16

 17 FL473127003 Credit unions 172.4 193.8 212.1 193.1 192.8 203.8 212.1 231.0 261.6 17

 18 FL793120005 Total assets 4268.3 4583.7 4845.1 4471.4 4461.9 4670.4 4845.1 5756.1 7650.8 18

 19 FL153020005 Household sector 1295.0 1200.0 1230.1 1295.7 1147.6 996.4 1230.1 1369.6 1826.9 19

 20 FL143020005 Nonfinancial business 1257.7 1515.9 1621.3 1399.6 1519.1 1742.0 1621.3 1898.9 2222.7 20

 21 FL103020000 Corporate 951.7 1189.7 1272.3 1067.8 1182.3 1398.8 1272.3 1493.0 1757.2 21

 22 FL113020005 Noncorporate 306.0 326.2 349.0 331.8 336.8 343.2 349.0 405.9 465.5 22

 23 FL313020005 Federal government 232.0 405.9 407.2 337.9 267.0 386.0 407.2 518.9 1725.4 23

 24 FL213020005 State and local governments 140.6 132.9 139.1 131.3 129.0 128.6 139.1 142.3 167.3 24

 25 FL793020005 Domestic financial sectors 491.5 398.9 459.9 374.8 446.0 444.9 459.9 766.6 634.1 25

 26 FL513020005 Property-casualty insurance companies 31.9 30.2 47.6 32.3 41.0 45.5 47.6 47.0 59.5 26

 27 FL543020005 Life insurance companies 91.1 90.7 94.7 89.3 96.2 105.8 94.7 142.4 137.6 27

 28 FL573020005 Private pension funds 21.8 16.8 16.9 16.8 17.0 17.0 16.9 17.3 17.4 28

 29 FL343020033 Federal government retirement funds 1.0 0.8 0.6 0.7 0.7 0.7 0.6 0.6 0.5 29

 30 FL223020043 State and local govt. retirement funds 30.2 28.6 20.6 19.5 25.4 26.8 20.6 20.5 20.8 30

 31 FL633020000 Money market funds 22.1 -43.7 1.2 -31.5 3.2 -30.3 1.2 -25.8 -45.1 31

 32 FL403020005 Government-sponsored enterprises 49.4 36.8 34.6 35.9 36.4 34.3 34.6 142.0 71.1 32

 33 FL613020003 Finance companies 18.6 14.3 12.3 13.7 13.5 12.8 12.3 16.2 21.1 33

 34 FL643020005 REITs 40.8 36.0 44.9 35.1 40.7 48.0 44.9 85.1 79.7 34

 35 FL663020003 Brokers and dealers 119.0 126.2 125.2 108.8 118.9 119.0 125.2 162.0 139.0 35

 36 FL713129005 Other financial business 65.7 62.3 61.2 54.3 53.0 65.5 61.2 159.3 132.6 36

 37 FL263020005 Rest of the world 848.5 928.0 985.6 930.3 950.7 969.5 985.6 1058.3 1072.3 37

 38 FL263027003 Checkable deposits 139.9 154.1 160.4 151.1 162.2 161.8 160.4 207.1 191.6 38

 39 FL263025003 Currency 708.6 773.9 825.2 779.2 788.5 807.6 825.2 851.2 880.6 39

 40 FL903020005 Mail float 3.2 2.2 1.9 1.9 2.6 3.0 1.9 1.4 2.1 40
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Z.1, September 21, 2020 115

L.205 Time and Savings Deposits 

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL703130005 Total liabilities 11670.4 12200.5 12884.0 12428.9 12520.5 12682.8 12884.0 13497.8 14177.8 1

 2 FL763130005 U.S.-chartered depository institutions 9802.0 10293.9 10804.8 10421.0 10491.2 10671.8 10804.8 11428.8 11957.0 2

 3 FL753130005 Foreign banking offices in U.S. 821.8 819.8 908.8 867.6 881.1 859.5 908.8 859.9 920.0 3

 4 FL743130003 Banks in U.S.-affiliated areas 38.1 38.5 39.8 37.6 38.4 40.2 39.8 40.4 41.6 4

 5 FL473130005 Credit unions 1008.6 1048.3 1130.6 1102.6 1109.9 1111.3 1130.6 1168.7 1259.3 5

 6 FL703130005 Total assets 11670.4 12200.5 12884.0 12428.9 12520.5 12682.8 12884.0 13497.8 14177.8 6

 7 FL153030005 Household sector 9233.8 9631.0 10164.0 9803.3 9830.0 10003.9 10164.0 10524.2 11168.7 7

 8 FL143030005 Nonfinancial business 1181.4 1265.5 1341.2 1295.8 1312.8 1313.0 1341.2 1492.3 1569.9 8

 9 FL103030003 Corporate 181.3 187.2 196.1 201.2 203.8 184.8 196.1 271.4 291.7 9

 10 FL113030003 Noncorporate 1000.1 1078.4 1145.1 1094.6 1109.0 1128.1 1145.1 1220.9 1278.2 10

 11 FL313030003 Federal government 1.9 2.0 2.3 2.1 2.3 2.6 2.3 1.9 2.1 11

 12 FL213030000 State and local governments 395.5 403.4 423.2 405.1 405.8 410.2 423.2 430.3 429.6 12

 13 FL793030005 Domestic financial sectors 293.2 296.7 356.9 325.7 361.9 350.1 356.9 349.1 338.8 13

 14 FL573030005 Private pension funds 35.0 30.0 29.7 29.8 30.2 29.9 29.7 30.2 30.3 14

 15 FL223030043 State and local govt. retirement funds 2.5 2.2 4.6 0.0 1.6 1.9 4.6 4.6 5.8 15

 16 FL633030000 Money market funds 178.9 190.6 258.8 225.4 258.9 255.8 258.8 239.4 215.4 16

 17 FL403030005 Government-sponsored enterprises 7.6 20.2 15.8 12.2 14.6 11.3 15.8 16.0 13.3 17

 18 FL613030003 Finance companies 55.8 42.8 36.8 41.1 40.5 38.4 36.8 48.7 63.3 18

 19 FL733030003 Holding companies 13.3 11.0 11.1 17.1 16.2 12.8 11.1 10.2 10.8 19

 20 FL263030005 Rest of the world 564.6 601.9 596.4 597.0 607.7 603.1 596.4 699.9 668.7 20

L.206 Money Market Fund Shares

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

 1 FL634090005 Total assets 2848.4 3038.3 3634.3 3079.4 3205.9 3442.5 3634.3 4338.0 4635.9 1

 2 FL153034005 Household sector 1617.9 1795.9 2204.3 1825.2 1912.1 2072.8 2204.3 2418.2 2615.3 2

 3 FL103034000 Nonfinancial corporate business 499.5 466.1 558.3 472.6 492.2 528.7 558.3 916.4 962.2 3

 4 FL113034003 Nonfinancial noncorporate business 99.8 107.6 114.2 109.2 110.7 112.6 114.2 121.8 125.0 4

 5 FL213034003 State and local governments 21.9 19.8 26.5 20.7 22.1 24.5 26.5 31.7 33.9 5

 6 FL513034005 Property-casualty insurance companies 19.6 22.3 24.7 21.9 25.5 25.9 24.7 21.7 28.3 6

 7 FL543034005 Life insurance companies 48.2 55.0 58.6 52.0 56.6 62.0 58.6 92.2 93.8 7

 8 FL573034005 Private pension funds 158.9 158.5 160.0 158.6 159.5 159.9 160.0 163.2 163.7 8

 9 FL223034005 State and local govt. retirement funds 62.1 59.7 20.6 24.2 18.2 19.0 20.6 29.9 31.3 9

 10 FL503034005 Other financial business 227.2 242.8 337.6 282.5 294.8 314.6 337.6 388.3 417.2 10

 11 FL263034003 Rest of the world 93.4 110.7 129.5 112.5 114.3 122.7 129.5 154.6 165.2 11
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116 Z.1, September 21, 2020

L.207 Federal Funds and Security Repurchase Agreements (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL892150005 Total liabilities 3838.2 3970.0 4427.0 4110.2 4339.1 4579.1 4427.0 4780.1 4145.6 1

 2 FL712151003 Monetary authority 564.0 304.0 336.6 255.3 335.4 313.4 336.6 569.1 233.0 2

 3 FL762150005 U.S.-chartered depository institutions 170.4 143.1 167.0 152.0 153.9 180.3 167.0 191.1 190.5 3

 4 FL762152005 Federal funds (2) 46.2 40.3 38.7 48.9 45.6 44.5 38.7 49.1 34.5 4

 5 FL762151005 Security repurchase agreements 124.3 102.8 128.4 103.2 108.3 135.7 128.4 142.1 156.0 5

 6 FL752150005 Foreign banking offices in U.S. 552.5 503.6 550.0 488.3 510.8 526.5 550.0 597.2 498.2 6

 7 FL752152005 Federal funds (2) 28.0 17.9 19.2 26.4 20.9 19.4 19.2 25.7 21.9 7

 8 FL752151005 Security repurchase agreements 524.5 485.7 530.8 461.9 489.8 507.1 530.8 571.5 476.2 8

 9 FL472150053 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL512151003 Property-casualty insurance companies 0.4 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 10

 11 FL542151073 Life insurance companies 21.4 24.1 17.5 23.5 23.2 20.8 17.5 27.1 25.9 11

 12 FL402150005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL642151073 REITs 264.3 307.6 379.5 338.3 368.6 373.0 379.5 260.5 232.8 13

 14 FL662151003 Brokers and dealers 1392.5 1698.4 1755.0 1689.3 1781.4 1873.7 1755.0 1815.9 1680.4 14

 15 FL732151003 Holding companies 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL262151003 Rest of the world 872.6 989.0 1221.2 1163.1 1165.6 1291.3 1221.2 1318.9 1284.6 16

 17 FL892050005 Total assets 4065.1 4438.4 5104.8 4574.7 4829.4 5144.7 5104.8 5508.4 4714.6 17

 18 FL102051003 Nonfinancial corporate business 39.6 14.6 12.2 12.1 10.3 10.2 12.2 24.4 29.3 18

 19 FL212051003 State and local governments 156.5 151.0 154.2 151.6 145.6 149.0 154.2 146.1 146.9 19

 20 FL712051000 Monetary authority 0.0 0.0 255.6 0.0 0.0 202.5 255.6 262.7 58.0 20

 21 FL762050005 U.S.-chartered depository institutions 222.5 382.8 358.5 359.4 376.4 332.3 358.5 331.3 560.3 21

 22 FL762052005 Federal funds (2) 24.4 20.3 24.2 24.1 19.0 21.4 24.2 21.3 32.0 22

 23 FL762051005 Security repurchase agreements 198.0 362.5 334.3 335.3 357.3 311.0 334.3 309.9 528.3 23

 24 FL752050005 Foreign banking offices in U.S. 268.1 319.0 379.0 364.8 381.7 402.9 379.0 327.2 302.2 24

 25 FL752052005 Federal funds (2) 0.9 1.2 0.3 2.1 0.4 2.1 0.3 0.6 1.1 25

 26 FL752051005 Security repurchase agreements 267.2 317.8 378.7 362.7 381.3 400.8 378.7 326.6 301.1 26

 27 FL472050053 Credit unions 0.2 0.2 0.8 0.6 0.7 0.8 0.8 0.8 0.8 27

 28 FL472052053 Federal funds 0.0 0.1 0.3 0.3 0.3 0.4 0.3 0.3 0.1 28

 29 FL472051053 Security repurchase agreements 0.2 0.0 0.6 0.2 0.4 0.4 0.6 0.5 0.6 29

 30 FL512051005 Property-casualty insurance companies 1.4 1.3 2.0 1.7 1.8 1.7 2.0 2.4 2.0 30

 31 FL542051075 Life insurance companies 2.0 2.2 6.3 3.3 4.7 5.7 6.3 9.8 7.5 31

 32 FL572051005 Private pension funds 2.9 2.5 2.4 2.4 2.5 2.4 2.4 2.5 2.5 32

 33 FL222051043 State and local govt. retirement funds 4.7 4.5 7.2 3.7 3.5 11.7 7.2 7.1 7.9 33

 34 FL632051000 Money market funds 956.5 1019.5 1175.1 980.1 1133.1 1172.5 1175.1 1468.4 906.1 34

 35 FL652051003 Mutual funds 98.0 81.7 102.8 105.1 107.1 102.4 102.8 107.3 102.3 35

 36 FL402050005 Government-sponsored enterprises 195.6 170.6 195.2 201.6 208.9 187.1 195.2 153.9 225.0 36

 37 FL402052033 Of which: FHLB federal funds (3) 65.5 54.2 51.4 75.4 74.8 55.9 51.4 74.4 53.7 37

 38 FL662051003 Brokers and dealers 1109.0 1315.2 1396.0 1318.5 1363.2 1466.5 1396.0 1483.0 1282.2 38

 39 FL732051003 Holding companies 5.7 1.7 2.1 1.5 1.3 1.2 2.1 2.1 22.2 39

 40 FL502051003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 FL262051005 Rest of the world 1002.6 971.7 1055.3 1068.2 1088.7 1095.7 1055.3 1179.4 1059.4 41

 42 FL902050005 Discrepancy -227.0 -468.4 -677.8 -464.5 -490.4 -565.6 -677.8 -728.3 -569.0 42

 Memo:

 43 FL072052006 Effective federal funds rate (percent) (4) 1.30 2.27 1.55 2.41 2.38 2.04 1.55 0.65 0.08 43

 Federal Reserve’s reverse repurchase agreement operations:

 44 FL712151103 Liability: Monetary authority (5) 319.6 41.8 64.1 0.7 44.3 7.1 64.1 284.9 1.0 44

 45 FL632051103 Asset: Money market funds (6) 288.1 39.7 46.9 0.7 43.6 7.1 46.9 284.9 1.0 45

 46 FL792051115 Other financial institutions (7) 31.5 2.2 17.2 0.0 0.7 0.0 17.2 0.0 0.0 46

(1) Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 1997:Q1 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) The effective federal funds rate is a weighted average of rates on brokered trades. Annualized using a 360-day year.

(5) Included in line 2.

(6) Included in line 34.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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Z.1, September 21, 2020 117

L.208 Debt Securities (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 By instrument

 1 FL894122005 Total debt securities 43214.5 45115.6 47392.0 45454.1 45730.6 46757.1 47392.0 48325.4 51689.8 1

 2 FL893169175 Open market paper 965.9 996.0 1045.2 1071.2 1090.4 1074.9 1045.2 1088.8 1006.6 2

 3 FL313161105 Treasury securities 16430.9 17842.1 19018.7 17906.3 17814.3 18571.7 19018.7 19518.4 22370.7 3

 4 FL893161705 Agency- and GSE-backed securities 8867.4 9112.9 9430.7 9146.5 9265.3 9344.4 9430.7 9770.9 9745.9 4

 5 FL383162005 Municipal securities 3898.2 3840.9 3860.8 3838.3 3823.4 3820.5 3860.8 3866.5 3885.9 5

 6 FL893163005 Corporate and foreign bonds 13052.1 13323.7 14036.5 13491.9 13737.3 13945.6 14036.5 14080.9 14680.7 6

 By sector

 7 FL894122005 Total liabilities 43214.5 45115.6 47392.0 45454.1 45730.6 46757.1 47392.0 48325.4 51689.8 7

 8 FL384122005 Domestic nonfinancial sectors 25942.7 27438.2 28878.5 27634.2 27601.3 28429.5 28878.5 29603.5 32822.6 8

 9 FL163162003 Nonprofit organizations (2) 218.7 216.4 213.2 215.4 214.7 214.3 213.2 210.3 208.0 9

 10 FL104122005 Nonfinancial corporate business 6156.1 6294.9 6554.6 6432.7 6510.5 6585.1 6554.6 6777.0 7125.5 10

 11 FL314122005 Federal government 16455.3 17865.0 19039.9 17928.5 17836.3 18593.1 19039.9 19539.6 22391.7 11

 12 FL213162005 State and local governments 3112.7 3061.9 3070.8 3057.7 3039.8 3036.8 3070.8 3076.6 3097.5 12

 13 FL794122005 Domestic financial sectors 13927.8 14271.3 14709.1 14359.7 14521.3 14624.4 14709.1 15233.9 15289.2 13

 14 FL764122005 U.S.-chartered depository institutions 223.2 247.5 209.7 235.6 230.3 209.7 209.7 232.9 242.0 14

 15 FL753169175 Foreign banking offices in U.S. 38.1 40.8 38.5 37.9 38.6 39.8 38.5 51.1 43.2 15

 16 FL403161705 Government-sponsored enterprises 6716.3 6797.3 7002.2 6808.4 6901.8 6952.7 7002.2 7318.1 7305.1 16

 17 FL413065005 Agency- and GSE-backed mortgage pools 2126.8 2292.6 2407.3 2315.8 2341.5 2370.2 2407.3 2431.6 2419.8 17

 18 FL674122005 ABS issuers 1138.6 1137.0 1193.4 1147.1 1146.1 1179.5 1193.4 1229.5 1216.8 18

 19 FL614122005 Finance companies 835.1 879.2 835.4 859.2 844.9 850.0 835.4 859.4 857.7 19

 20 FL644122005 REITs 439.0 470.0 539.8 482.9 502.5 521.0 539.8 529.8 563.3 20

 21 FL663163003 Brokers and dealers 185.7 184.0 174.0 181.9 205.9 183.3 174.0 256.9 179.7 21

 22 FL734122005 Holding companies 1448.6 1401.7 1449.7 1441.2 1479.2 1471.9 1449.7 1542.5 1606.9 22

 23 FL504122005 Other financial business 776.5 821.2 859.1 849.6 830.7 846.2 859.1 782.0 854.6 23

 24 LM264122005 Rest of the world 3344.0 3406.1 3804.5 3460.3 3608.0 3703.2 3804.5 3488.0 3578.0 24

 25 FL894022005 Total assets 43505.5 44382.3 48479.8 45429.4 46420.0 47911.9 48479.8 49750.9 53983.5 25

 26 FL384022005 Domestic nonfinancial sectors 6281.0 7007.1 7720.2 7120.9 7510.2 7622.0 7720.2 7568.2 7499.0 26

 27 LM154022005 Household sector 4467.6 5208.9 5801.1 5318.7 5750.2 5780.8 5801.1 5621.8 5382.4 27

 28 LM104022005 Nonfinancial corporate business 236.0 253.2 328.7 254.1 278.8 322.0 328.7 365.8 380.1 28

 29 LM114022005 Nonfinancial noncorporate business 75.1 80.9 85.9 82.1 83.2 84.7 85.9 91.6 94.0 29

 30 FL314022005 Federal government 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 30

 31 LM214022005 State and local governments 1501.8 1463.6 1503.9 1465.4 1397.5 1434.1 1503.9 1488.4 1641.9 31

 32 FL794022005 Domestic financial sectors 25882.6 26189.2 28688.8 26735.5 27088.3 28195.3 28688.8 30145.8 33983.4 32

 33 LM714022005 Monetary authority 4448.3 3982.6 4011.9 3953.9 3900.4 3897.9 4011.9 5312.9 6847.7 33

 34 LM764022005 U.S.-chartered depository institutions 3757.4 3760.5 4083.5 3847.5 3927.8 4058.5 4083.5 4272.3 4588.6 34

 35 LM754022005 Foreign banking offices in U.S. 303.3 318.1 309.0 312.9 325.6 334.4 309.0 340.2 334.4 35

 36 LM744022003 Banks in U.S.-affiliated areas 14.7 19.5 33.6 20.8 28.7 31.1 33.6 34.0 38.7 36

 37 LM474022005 Credit unions 213.0 201.8 221.3 213.4 215.9 216.8 221.3 235.2 278.9 37

 38 LM514022005 Property-casualty insurance companies 1097.2 1118.6 1192.8 1154.4 1177.6 1194.3 1192.8 1190.8 1268.3 38

 39 LM544022005 Life insurance companies 3585.8 3502.6 4018.9 3685.2 3859.4 3995.9 4018.9 3979.3 4301.1 39

 40 LM574022005 Private pension funds 1391.2 1416.1 1607.8 1488.6 1500.2 1572.9 1607.8 1614.1 1684.4 40

 41 LM344022005 Federal government retirement funds 1753.7 2061.9 2177.0 1810.1 1738.4 2073.4 2177.0 2181.1 2184.6 41

 42 LM224022045 State and local govt. retirement funds 955.0 975.6 955.5 1024.4 1007.7 1006.8 955.5 971.2 951.9 42

 43 FL634022005 Money market funds 1680.7 1862.3 2181.3 1895.1 1798.9 2029.8 2181.3 2568.7 3544.2 43

 44 LM654022005 Mutual funds 4514.5 4541.8 5186.3 4733.2 4914.9 5075.1 5186.3 4805.1 5092.4 44

 45 LM554022005 Closed-end funds 168.0 161.0 171.4 166.7 169.3 171.1 171.4 151.9 162.5 45

 46 LM564022005 Exchange-traded funds 556.5 636.1 825.0 692.7 745.4 789.6 825.0 830.5 944.3 46

 47 FL404022005 Government-sponsored enterprises 404.0 407.0 465.4 416.7 432.2 455.7 465.4 477.7 538.1 47

 48 FL674022005 ABS issuers 12.3 20.4 33.0 24.3 26.5 29.1 33.0 32.0 30.6 48

 49 LM613063003 Finance companies 63.8 55.3 60.0 54.1 53.1 56.7 60.0 58.8 61.3 49

 50 FL644022005 REITs 297.6 324.5 386.6 355.0 377.7 384.3 386.6 246.8 242.1 50

 51 LM664022005 Brokers and dealers 306.1 443.9 412.6 434.0 449.7 449.7 412.6 470.4 464.0 51

 52 LM734022605 Holding companies 67.2 97.4 132.0 100.9 110.7 128.6 132.0 123.4 127.4 52

 53 FL504022005 Other financial business 292.5 282.3 224.1 351.7 328.1 243.5 224.1 249.2 297.8 53

 54 LM264022005 Rest of the world 11341.9 11186.0 12070.9 11573.1 11821.4 12094.6 12070.9 12036.9 12501.1 54

 55 LM904022005 Discrepancy (3) -291.0 733.2 -1087.8 24.7 -689.3 -1154.8 -1087.8 -1425.5 -2293.7 55

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.

(2) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

(3) The accumulated valuation difference between issuance and holdings.
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L.209 Open Market Paper

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893169175 Total liabilities 965.9 996.0 1045.2 1071.2 1090.4 1074.9 1045.2 1088.8 1006.6 1

 2 FL893169105 Commercial paper 965.9 996.0 1045.2 1071.2 1090.4 1074.9 1045.2 1088.8 1006.6 2

 3 FL103169100 Nonfinancial corporate business 206.7 196.5 194.5 241.1 236.6 216.3 194.5 243.1 166.1 3

 4 FL263169105 Foreign issues in U.S. 362.0 368.3 452.8 387.7 413.9 456.2 452.8 423.6 437.7 4

 5 FL263169110 Nonfinancial 45.1 51.5 57.8 64.2 73.8 67.2 57.8 63.9 72.2 5

 6 FL263169123 Financial 316.9 316.8 395.0 323.5 340.1 389.0 395.0 359.7 365.5 6

 7 FL793169100 Financial business 397.2 431.2 397.9 442.5 440.0 402.4 397.9 422.0 402.8 7

 8 FL763169103 U.S.-chartered depository institutions 75.5 87.5 68.4 81.6 79.0 68.7 68.4 80.0 84.4 8

 9 FL753169103 Foreign banking offices in U.S. 38.1 40.8 38.5 37.9 38.6 39.8 38.5 51.1 43.2 9

 10 FL673169105 ABS issuers 65.0 80.9 75.9 82.7 84.6 79.7 75.9 80.7 86.6 10

 11 FL613169100 Finance companies 72.2 64.6 63.5 64.7 65.4 59.8 63.5 61.7 53.6 11

 12 FL643169173 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL733169103 Holding companies 4.4 5.9 5.9 6.2 6.4 3.8 5.9 5.4 4.9 13

 14 FL503169105 Other financial business 142.1 151.4 145.7 169.3 166.0 150.6 145.7 143.1 130.1 14

 15 FL703169605 Bankers’ acceptances (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL763169603 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FL753169603 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL893169175 Total assets 965.9 996.0 1045.2 1071.2 1090.4 1074.9 1045.2 1088.8 1006.6 18

 19 FL103069100 Nonfinancial corporate business 123.7 162.1 245.2 159.2 192.9 241.6 245.2 254.7 249.5 19

 20 FL213069103 State and local governments 74.2 71.6 73.1 71.9 69.1 70.7 73.1 69.3 70.6 20

 21 FL713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL763069175 U.S.-chartered depository institutions (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27.5 11.8 22

 23 FL753069603 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL473069153 Credit unions 0.0 0.2 0.7 0.3 0.4 0.4 0.7 1.2 0.7 24

 25 FL513069105 Property-casualty insurance companies 11.4 9.2 9.7 10.6 10.1 9.0 9.7 6.8 6.5 25

 26 FL543069105 Life insurance companies 38.1 33.1 28.8 33.4 33.8 32.2 28.8 27.5 25.8 26

 27 FL573069105 Private pension funds 42.9 37.6 37.4 37.4 37.9 37.6 37.4 37.9 38.0 27

 28 FL223069143 State and local govt. retirement funds 54.0 52.1 11.1 19.7 17.9 11.8 11.1 14.9 13.7 28

 29 FL633069175 Money market funds 152.6 193.7 237.2 216.3 231.7 241.9 237.2 225.4 219.0 29

 30 FL653069100 Mutual funds 98.0 81.7 102.8 105.1 107.1 102.4 102.8 107.3 102.3 30

 31 FL403069105 Government-sponsored enterprises 6.4 6.9 7.1 7.6 6.9 6.9 7.1 8.2 7.5 31

 32 FL663069103 Brokers and dealers 9.3 11.4 8.5 13.9 12.0 13.8 8.5 20.7 13.0 32

 33 FL503069105 Other financial business 219.9 211.6 153.2 279.4 255.0 169.4 153.2 172.4 122.1 33

 34 LM263069103 Rest of the world 135.4 124.7 130.3 116.4 115.7 137.1 130.3 115.0 126.1 34

(1) Excludes banks’ holdings of own acceptances.
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L.210 Treasury Securities (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL313161105 Total liabilities 16430.9 17842.1 19018.7 17906.3 17814.3 18571.7 19018.7 19518.4 22370.7 1

 2 FL313161205 Marketable Treasury securities 14434.6 15566.2 16628.9 15888.7 15884.3 16303.7 16628.9 17115.8 19867.0 2

 3 FL313161110 Treasury bills 1952.5 2339.4 2416.4 2479.4 2250.4 2376.4 2416.4 2657.1 5078.8 3

 4 FL313161275 Other Treasury notes, bonds, and TIPS 12470.6 13216.5 14203.7 13399.0 13625.1 13918.5 14203.7 14449.9 14780.9 4

 5 FL313161283 Held in the Civil Service Retirement Fund (2) 11.5 10.3 8.8 10.3 8.8 8.8 8.8 8.8 7.3 5

 6 FL313161305 Nonmarketable Treasury securities 1996.3 2275.9 2389.8 2017.6 1930.0 2268.0 2389.8 2402.6 2503.6 6

 7 FL313161400 U.S. savings securities 160.5 155.8 151.3 154.5 153.4 152.4 151.3 150.0 149.7 7

 8 FL213061120 State and local government series (SLGS) 92.4 66.2 77.8 62.0 47.9 53.8 77.8 84.4 89.2 8

 9 FL343061123 Thrift Savings Plan G Fund 68.7 253.4 250.8 40.1 43.5 243.4 250.8 267.4 278.2 9

 10 FL343061145 Federal govt. defined benefit pension plans 1637.6 1763.9 1877.2 1723.5 1647.9 1781.5 1877.2 1867.0 1857.8 10

 11 FL503061303 Held by Federal Reserve credit facility LLCs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 95.6 11

 12 FL313161375 Other nonmarketable securities 37.0 36.6 32.7 37.4 37.3 36.9 32.7 33.8 33.1 12

 13 FL893061105 Total assets 16413.0 17687.3 19426.0 17911.3 18058.4 19000.9 19426.0 20699.2 23514.3 13

 14 LM153061105 Household sector 1132.4 1708.8 2080.8 1932.0 2056.4 2087.8 2080.8 1792.3 1814.1 14

 15 FL313161400 U.S. savings securities (line 7) 160.5 155.8 151.3 154.5 153.4 152.4 151.3 150.0 149.7 15

 16 LM153061185 Other Treasury securities 972.0 1553.0 1929.5 1777.5 1903.0 1935.5 1929.5 1642.2 1664.4 16

 17 LM103061103 Nonfinancial corporate business 71.3 54.4 48.1 57.0 50.1 45.9 48.1 69.0 88.4 17

 18 LM113061003 Nonfinancial noncorporate business 69.0 74.4 79.0 75.5 76.5 77.9 79.0 84.3 86.5 18

 19 LM213061105 State and local governments 731.6 716.0 740.3 714.5 676.7 696.1 740.3 740.1 834.7 19

 20 FL213061120 SLGS (line 8) 92.4 66.2 77.8 62.0 47.9 53.8 77.8 84.4 89.2 20

 21 LM213061103 Other Treasury securities 639.1 649.8 662.5 652.5 628.8 642.3 662.5 655.7 745.5 21

 22 LM713061103 Monetary authority 2633.0 2338.0 2540.7 2330.2 2315.0 2366.5 2540.7 3757.4 4807.9 22

 23 LM713061113 Treasury bills 0.0 0.0 168.5 0.0 0.0 6.0 168.5 325.9 325.9 23

 24 LM713061125 Other Treasury securities 2633.0 2338.0 2372.3 2330.2 2315.0 2360.5 2372.3 3431.5 4481.9 24

 25 LM763061100 U.S.-chartered depository institutions 484.4 569.8 704.1 563.8 592.2 674.5 704.1 724.4 926.6 25

 26 LM753061103 Foreign banking offices in U.S. 97.4 125.6 121.1 128.0 129.6 132.3 121.1 116.4 117.1 26

 27 LM743061103 Banks in U.S.-affiliated areas 5.0 10.2 16.6 11.3 14.4 14.0 16.6 14.7 17.6 27

 28 LM473061105 Credit unions 29.3 31.1 37.5 33.8 34.2 34.9 37.5 38.7 40.2 28

 29 LM513061105 Property-casualty insurance companies 149.6 156.8 153.4 157.4 157.0 152.2 153.4 168.6 178.1 29

 30 LM513061115 Treasury bills 58.8 46.2 37.4 49.5 44.5 36.9 37.4 51.5 72.0 30

 31 LM513061125 Other Treasury securities 90.8 110.6 116.0 107.9 112.5 115.3 116.0 117.1 106.1 31

 32 LM543061105 Life insurance companies 228.3 203.7 215.3 203.6 206.4 214.3 215.3 243.9 242.0 32

 33 LM543061115 Treasury bills 13.0 8.7 9.3 9.3 10.0 9.9 9.3 24.5 22.5 33

 34 LM543061125 Other Treasury securities 215.3 195.0 206.0 194.3 196.4 204.4 206.0 219.4 219.5 34

 35 LM573061105 Private pension funds 350.9 371.9 420.7 388.3 391.3 413.9 420.7 452.5 449.7 35

 36 LM573061143 Defined benefit plans 214.3 225.4 246.1 234.7 228.7 242.0 246.1 252.3 247.0 36

 37 LM573061133 Defined contribution plans 136.6 146.6 174.6 153.6 162.6 171.9 174.6 200.3 202.7 37

 38 LM343061105 Federal government retirement funds (3) 1730.1 2039.2 2150.2 1786.2 1713.1 2047.1 2150.2 2156.6 2157.5 38

 39 LM343061165 Defined benefit plans 1651.1 1775.8 1887.7 1735.5 1658.4 1791.9 1887.7 1877.1 1866.5 39

 40 LM343061155 Defined contribution plans 79.0 263.4 262.5 50.6 54.7 255.1 262.5 279.5 291.0 40

 41 LM223061143 State and local govt. retirement funds 289.4 367.9 353.0 358.9 388.8 349.0 353.0 352.1 337.6 41

 42 FL633061105 Money market funds 702.9 873.5 1036.5 879.5 743.5 945.6 1036.5 1267.8 2349.8 42

 43 FL633061110 Treasury bills 461.4 590.9 622.0 580.7 454.8 614.3 622.0 817.3 1873.2 43

 44 FL633061120 Other Treasury securities 241.4 282.6 414.5 298.8 288.6 331.3 414.5 450.5 476.5 44

 45 LM653061105 Mutual funds 1090.8 1146.4 1310.9 1175.2 1204.1 1268.2 1310.9 1114.1 1215.6 45

 46 LM653061113 Treasury bills 86.1 93.2 55.9 60.6 63.1 56.1 55.9 60.9 66.8 46

 47 LM653061125 Other Treasury securities 1004.7 1053.1 1255.0 1114.7 1141.0 1212.2 1255.0 1053.2 1148.8 47

 48 LM553061103 Closed-end funds 3.7 3.5 3.2 3.6 3.7 3.5 3.2 2.7 2.8 48

 49 LM563061103 Exchange-traded funds 122.1 178.7 231.8 193.0 214.6 226.8 231.8 262.9 271.8 49

 50 FL403061105 Government-sponsored enterprises 101.3 115.7 171.3 125.7 139.9 153.9 171.3 185.7 248.1 50

 51 FL673061103 ABS issuers 12.3 20.4 33.0 24.3 26.5 29.1 33.0 32.0 30.6 51

 52 LM663061105 Brokers and dealers 144.6 276.4 229.5 261.0 258.9 238.3 229.5 258.3 254.2 52

 53 LM733061103 Holding companies 22.2 34.8 58.2 34.3 39.6 55.9 58.2 54.3 55.5 53

 54 FL503061303 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 95.6 54

 55 LM263061105 Rest of the world 6211.3 6270.1 6690.8 6474.0 6625.9 6773.4 6690.8 6810.3 6892.3 55

 56 LM263061110 Treasury bills 703.1 746.7 706.2 765.4 707.8 750.1 706.2 719.6 1025.9 56

 57 LM263061120 Other Treasury securities 5508.1 5523.5 5984.6 5708.6 5918.0 6023.3 5984.6 6090.7 5866.4 57

 58 LM903061103 Discrepancy (4) 17.9 154.7 -407.3 -5.1 -244.1 -429.2 -407.3 -1180.7 -1143.7 58

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds. In the Financial

 Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as opposed to intragovernmental

 holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.

(3) Comprised primarily of nonmarketable Treasury securities.

(4) The accumulated valuation difference between issuance and holdings.
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L.211 Agency- and GSE-Backed Securities (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893161705 Total liabilities 8867.4 9112.9 9430.7 9146.5 9265.3 9344.4 9430.7 9770.9 9745.9 1

 2 FL313161705 Budget agencies 24.4 22.9 21.2 22.2 22.0 21.5 21.2 21.2 21.0 2

 3 FL403161705 Government-sponsored enterprises 6716.3 6797.3 7002.2 6808.4 6901.8 6952.7 7002.2 7318.1 7305.1 3

 4 FL413065005 Agency- and GSE-backed mortgage pools 2126.8 2292.6 2407.3 2315.8 2341.5 2370.2 2407.3 2431.6 2419.8 4

 5 FL893061705 Total assets 8908.3 9042.2 9628.5 9179.8 9411.5 9555.8 9628.5 10155.7 10089.1 5

 6 LM153061705 Household sector 451.9 631.1 736.1 631.4 699.5 699.9 736.1 773.5 443.4 6

 7 LM103061703 Nonfinancial corporate business 23.8 18.1 16.0 19.0 16.7 15.3 16.0 23.0 22.8 7

 8 FL313061703 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 LM213061703 State and local governments 482.0 469.6 479.7 471.7 452.7 463.5 479.7 479.2 496.1 9

 10 LM713061705 Monetary authority 1815.3 1644.6 1471.1 1623.7 1585.3 1531.5 1471.1 1555.5 2039.9 10

 11 LM763061705 U.S.-chartered depository institutions 2207.4 2239.3 2408.2 2293.1 2363.2 2411.1 2408.2 2582.8 2650.3 11

 12 LM753061703 Foreign banking offices in U.S. 45.7 42.9 53.2 41.6 45.5 52.1 53.2 59.4 59.7 12

 13 LM743061703 Banks in U.S.-affiliated areas 1.5 8.0 8.0 8.2 8.4 7.8 8.0 7.2 9.1 13

 14 LM473061705 Credit unions 168.0 155.3 165.0 162.8 164.5 164.7 165.0 174.4 215.2 14

 15 LM513061705 Property-casualty insurance companies 115.1 127.0 149.7 133.7 136.7 142.8 149.7 153.0 147.9 15

 16 LM543061705 Life insurance companies 386.6 364.9 388.4 375.4 384.6 391.4 388.4 407.1 391.3 16

 17 LM573061705 Private pension funds 193.6 205.0 229.1 213.2 213.1 223.2 229.1 234.8 219.9 17

 18 LM343061705 Federal government retirement funds 9.3 9.2 10.7 9.6 10.1 10.6 10.7 10.3 10.9 18

 19 LM223061743 State and local govt. retirement funds 109.5 141.8 170.5 144.8 153.2 179.0 170.5 181.3 160.7 19

 20 FL633061700 Money market funds 682.2 644.9 755.1 655.7 676.3 696.0 755.1 931.1 826.2 20

 21 LM653061703 Mutual funds 600.0 603.6 654.0 584.6 608.6 632.7 654.0 682.8 555.1 21

 22 FL403061705 Government-sponsored enterprises 267.6 262.5 268.2 261.9 264.8 275.4 268.2 266.3 265.1 22

 23 FL673061703 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL643061773 REITs 255.3 273.7 334.5 305.7 328.1 335.4 334.5 210.6 210.0 24

 25 LM663061703 Brokers and dealers 54.1 72.3 104.1 82.0 104.2 109.4 104.1 122.2 127.2 25

 26 LM733061703 Holding companies 27.3 41.5 44.9 44.0 43.9 42.9 44.9 41.9 39.4 26

 27 LM263061705 Rest of the world 1012.2 1087.0 1182.1 1117.6 1152.1 1171.2 1182.1 1259.3 1198.9 27

 28 LM903061703 Discrepancy (2) -40.8 70.8 -197.8 -33.3 -146.3 -211.4 -197.8 -384.8 -343.1 28

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by Ginnie Mae, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are

 considered officially to be part of the total debt of the federal government, which is shown on table L.106, line 20.

(2) The accumulated valuation difference between issuance and holdings.
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L.212 Municipal Securities

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL383162005 Total liabilities 3898.2 3840.9 3860.8 3838.3 3823.4 3820.5 3860.8 3866.5 3885.9 1

 2 FL213162005 State and local governments 3112.7 3061.9 3070.8 3057.7 3039.8 3036.8 3070.8 3076.6 3097.5 2

 3 FL213162400 Short-term (1) 35.0 37.9 44.7 39.1 36.5 40.0 44.7 42.9 41.0 3

 4 FL213162200 Long-term 3077.6 3024.0 3026.1 3018.6 3003.3 2996.9 3026.1 3033.7 3056.5 4

 5 FL163162003 Nonprofit organizations (2) 218.7 216.4 213.2 215.4 214.7 214.3 213.2 210.3 208.0 5

 6 FL103162000 Nonfinancial corporate business 566.8 562.7 576.9 565.3 568.9 569.3 576.9 579.5 580.5 6

 (industrial revenue bonds)

 7 FL893062005 Total assets 4126.6 3981.2 4151.7 4052.1 4090.4 4116.4 4151.7 4089.6 4182.7 7

 8 LM153062005 Household sector 1892.5 1863.1 1900.3 1899.3 1906.5 1898.1 1900.3 1887.8 1905.4 8

 9 LM103062003 Nonfinancial corporate business 17.2 18.5 19.3 18.9 19.1 19.2 19.3 19.1 19.4 9

 10 LM113062003 Nonfinancial noncorporate business 6.0 6.5 6.9 6.6 6.7 6.8 6.9 7.4 7.6 10

 11 LM213062003 State and local governments 16.0 15.4 15.7 15.5 14.8 15.2 15.7 14.9 16.3 11

 12 LM763062000 U.S.-chartered depository institutions 572.6 499.8 471.7 492.2 476.1 470.9 471.7 484.0 501.5 12

 13 LM753062003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 LM743062003 Banks in U.S.-affiliated areas 1.3 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.1 14

 15 LM473062005 Credit unions 5.1 4.8 5.5 4.8 4.8 4.5 5.5 6.3 7.4 15

 16 LM513062005 Property-casualty insurance companies 338.9 291.6 285.2 293.0 291.0 289.4 285.2 281.1 287.7 16

 17 LM543062005 Life insurance companies 197.8 190.0 215.0 198.4 204.8 210.7 215.0 212.0 216.1 17

 18 LM343062033 Federal government retirement funds 0.1 0.0 0.1 0.1 0.1 0.0 0.1 0.0 0.0 18

 19 LM223062043 State and local govt. retirement funds 3.4 4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL633062000 Money market funds 134.4 142.8 134.0 135.0 135.8 130.3 134.0 130.7 136.5 20

 21 LM653062003 Mutual funds 688.1 693.6 831.0 737.2 773.4 805.2 831.0 786.2 817.3 21

 22 LM553062003 Closed-end funds 90.0 88.4 93.2 89.8 91.0 93.4 93.2 89.8 92.0 22

 23 LM563062003 Exchange-traded funds 30.8 37.0 49.3 39.0 42.0 45.4 49.3 49.3 54.3 23

 24 FL403062005 Government-sponsored enterprises 4.6 3.9 3.3 3.8 3.6 3.3 3.3 3.2 2.9 24

 25 LM663062003 Brokers and dealers 26.7 20.7 16.4 16.4 18.4 20.4 16.4 13.7 8.7 25

 26 FL503062003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.2 26

 27 FL263062003 Rest of the world 101.3 99.7 103.7 100.9 101.3 102.5 103.7 102.9 107.3 27

 28 LM903062003 Discrepancy (3) -228.5 -140.2 -290.9 -213.8 -267.0 -295.9 -290.9 -223.1 -296.8 28

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

(2) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

(3) The accumulated valuation difference between issuance and holdings.
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L.213 Corporate and Foreign Bonds

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893163005 Total liabilities 13052.1 13323.7 14036.5 13491.9 13737.3 13945.6 14036.5 14080.9 14680.7 1

 2 FL103163003 Nonfinancial corporate business 5382.6 5535.8 5783.2 5626.4 5705.0 5799.5 5783.2 5954.3 6379.0 2

 3 FL793163005 Domestic financial sectors 4687.5 4750.1 4901.7 4792.9 4838.1 4899.1 4901.7 5062.2 5161.5 3

 4 FL763163005 U.S.-chartered depository institutions 147.7 160.0 141.3 154.0 151.3 141.0 141.3 152.9 157.6 4

 5 FL673163005 ABS issuers (net) (1) 1073.6 1056.1 1117.5 1064.3 1061.5 1099.8 1117.5 1148.8 1130.2 5

 6 FL613163005 Finance companies 763.0 814.6 771.8 794.5 779.5 790.2 771.8 797.6 804.1 6

 7 FL643163005 REITs 439.0 470.0 539.8 482.9 502.5 521.0 539.8 529.8 563.3 7

 8 FL663163003 Brokers and dealers 185.7 184.0 174.0 181.9 205.9 183.3 174.0 256.9 179.7 8

 9 FL733163003 Holding companies 1444.2 1395.8 1443.8 1435.0 1472.8 1468.1 1443.8 1537.1 1602.1 9

 10 FL503163005 Other financial business 634.4 669.7 713.4 680.3 664.7 695.6 713.4 638.9 724.5 10

 11 LM263163005 Rest of the world (2) 2982.0 3037.7 3351.7 3072.6 3194.1 3247.0 3351.7 3064.4 3140.2 11

 12 FL893063005 Total assets (3) 13091.6 12675.7 14228.4 13215.0 13769.2 14163.9 14228.4 13717.7 15190.9 12

 13 LM153063005 Household sector 990.8 1005.9 1083.9 856.0 1087.8 1094.9 1083.9 1168.3 1219.5 13

 14 FL313063763 Federal government 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 14

 15 LM213063003 State and local governments 198.0 191.0 195.1 191.9 184.2 188.6 195.1 184.9 224.2 15

 16 LM763063005 U.S.-chartered depository institutions 493.0 451.6 499.5 498.4 496.4 502.0 499.5 453.6 498.4 16

 17 LM763063605 MBS and other ABS 83.0 77.1 84.9 79.7 82.2 84.3 84.9 88.0 92.5 17

 18 LM763063095 Other 409.9 374.5 414.6 418.7 414.2 417.7 414.6 365.5 405.9 18

 19 LM753063005 Foreign banking offices in U.S. 160.2 149.7 134.7 143.3 150.4 150.0 134.7 164.4 157.7 19

 20 LM743063005 Banks in U.S.-affiliated areas 7.0 0.1 7.8 0.1 4.7 8.0 7.8 10.9 10.9 20

 21 LM473063005 Credit unions 10.7 10.4 12.6 11.7 12.0 12.3 12.6 14.6 15.5 21

 22 LM473063605 MBS and other ABS 10.4 9.9 12.1 11.2 11.5 11.8 12.1 14.1 14.9 22

 23 LM473063095 Other 0.3 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 23

 24 LM513063005 Property-casualty insurance companies 482.2 534.0 594.8 559.7 582.9 601.0 594.8 581.4 648.1 24

 25 LM513063605 MBS and other ABS 104.3 122.8 138.8 129.2 135.1 139.8 138.8 135.7 151.3 25

 26 LM513063095 Other 377.9 411.3 456.0 430.5 447.8 461.2 456.0 445.7 496.9 26

 27 LM543063005 Life insurance companies 2735.0 2710.9 3171.4 2874.4 3029.8 3147.3 3171.4 3088.8 3425.9 27

 28 LM543063675 MBS and other ABS 482.0 498.8 561.3 523.5 546.0 561.4 561.3 543.5 601.4 28

 29 LM543063095 Other 2253.0 2212.1 2610.1 2350.9 2483.8 2586.0 2610.1 2545.3 2824.5 29

 30 LM573063005 Private pension funds 803.8 801.5 920.7 849.7 857.9 898.2 920.7 888.8 976.8 30

 31 LM343063005 Federal government retirement funds 14.2 13.4 16.1 14.3 15.1 15.8 16.1 14.2 16.2 31

 32 LM223063045 State and local govt. retirement funds 498.8 409.8 420.9 501.0 447.8 467.0 420.9 422.9 439.9 32

 33 FL633063005 Money market funds 8.5 7.5 18.5 8.7 11.7 16.1 18.5 13.8 12.7 33

 34 LM653063005 Mutual funds 2037.6 2016.6 2287.6 2131.0 2221.8 2266.5 2287.6 2114.6 2401.9 34

 35 LM553063003 Closed-end funds 74.3 69.1 75.1 73.2 74.7 74.2 75.1 59.4 67.7 35

 36 LM563063003 Exchange-traded funds 403.6 420.5 544.0 460.7 488.8 517.5 544.0 518.3 618.2 36

 37 FL403063005 Government-sponsored enterprises 24.1 18.1 15.5 17.6 16.9 16.2 15.5 14.3 14.5 37

 38 FL403063605 MBS and other ABS 19.8 14.3 12.0 13.9 13.2 12.6 12.0 10.9 11.2 38

 39 FL403063095 Other 4.3 3.9 3.5 3.8 3.7 3.6 3.5 3.4 3.3 39

 40 LM613063003 Finance companies 63.8 55.3 60.0 54.1 53.1 56.7 60.0 58.8 61.3 40

 41 FL643063005 REITs 42.3 50.8 52.1 49.2 49.5 48.9 52.1 36.2 32.1 41

 42 LM663063005 Brokers and dealers 71.4 63.0 54.0 60.6 56.3 67.8 54.0 55.5 60.9 42

 43 LM733063003 Holding companies 17.7 21.0 28.9 22.6 27.3 29.9 28.9 27.3 32.5 43

 44 FL503063005 Other financial business 72.6 70.7 70.9 72.3 73.1 74.0 70.9 76.8 78.9 44

 45 LM263063005 Rest of the world (4) 3881.7 3604.4 3964.0 3764.1 3826.5 3910.4 3964.0 3749.5 4176.5 45

 46 LM263063603 MBS and other ABS 369.6 351.0 337.6 344.1 339.7 336.8 337.6 320.5 327.7 46

 47 LM263063095 Other 3512.2 3253.4 3626.4 3420.0 3486.8 3573.6 3626.4 3429.0 3848.8 47

 48 LM903063003 Discrepancy (5) -39.6 648.0 -191.9 276.9 -31.9 -218.3 -191.9 363.2 -510.2 48

(1) Liabilities net of assets.

(2) Holdings of foreign issues by U.S. residents.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.

(5) The accumulated valuation difference between issuance and holdings.
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L.214 Loans (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 By instrument

 1 FL894123005 Total loans 25917.0 27080.6 28099.5 27371.0 27701.4 27828.4 28099.5 29250.4 29126.9 1

 2 FL793068005 Depository institution loans n.e.c. 3395.5 3675.8 3818.0 3686.8 3764.5 3783.6 3818.0 4461.8 4493.0 2

 3 FL893169005 Other loans and advances 3816.5 3977.6 4092.5 4175.9 4241.5 4071.3 4092.5 4509.7 4270.7 3

 4 FL893065005 Mortgages 14892.0 15429.1 16008.4 15519.8 15654.4 15856.1 16008.4 16139.0 16284.1 4

 5 FL893065105 One-to-four-family residential 10581.5 10871.8 11157.6 10901.4 10984.1 11085.5 11157.6 11219.4 11303.8 5

 6 FL893065405 Multifamily residential 1358.6 1480.6 1617.7 1505.5 1529.8 1577.6 1617.7 1637.4 1671.8 6

 7 FL893065505 Commercial 2715.7 2831.0 2966.4 2862.0 2884.4 2931.5 2966.4 3011.7 3034.3 7

 8 FL893065603 Farm 236.2 245.7 266.8 250.9 256.2 261.5 266.8 270.5 274.2 8

 9 FL153166000 Consumer credit 3813.0 3998.1 4180.6 3988.5 4040.9 4117.3 4180.6 4139.9 4079.1 9

 By sector

 10 FL894123005 Total liabilities 25917.0 27080.6 28099.5 27371.0 27701.4 27828.4 28099.5 29250.4 29126.9 10

 11 FL384123005 Domestic nonfinancial sectors 23335.2 24455.9 25454.7 24812.2 25083.1 25176.4 25454.7 26103.7 26357.0 11

 12 FL154123005 Household sector 14781.9 15260.3 15754.6 15255.9 15422.3 15591.3 15754.6 15825.9 15856.6 12

 13 FL104123005 Nonfinancial corporate business 2840.0 3300.4 3498.5 3377.5 3414.9 3454.7 3498.5 3923.8 3915.0 13

 14 FL114123005 Nonfinancial noncorporate business 5542.7 5875.1 6164.7 5943.2 6008.6 6086.4 6164.7 6317.1 6564.0 14

 15 FL314123005 Federal government 151.7 0.0 15.8 215.3 216.7 23.1 15.8 15.7 0.0 15

 16 FL213169203 State and local governments 18.9 20.1 21.1 20.3 20.6 20.8 21.1 21.2 21.4 16

 17 FL794123005 Domestic financial sectors 2038.1 2027.4 1955.6 1952.5 1972.2 1975.2 1955.6 2369.5 2029.9 17

 18 FL763169305 U.S.-chartered depository institutions 586.5 577.3 484.9 524.1 540.5 502.0 484.9 615.1 380.3 18

 19 FL473169333 Credit unions 54.8 57.7 52.3 50.7 51.4 54.2 52.3 62.9 50.5 19

 20 FL513169333 Property-casualty insurance companies 2.9 3.3 3.5 3.8 3.3 3.4 3.5 6.0 6.3 20

 21 FL543169373 Life insurance companies 74.8 81.1 88.7 82.2 82.2 86.1 88.7 107.7 108.2 21

 22 FL403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL614123005 Finance companies 148.1 147.7 153.6 150.7 149.6 153.0 153.6 160.6 165.9 23

 24 FL644123005 REITs 288.2 275.2 264.1 266.7 261.9 260.0 264.1 301.0 267.4 24

 25 FL664123005 Brokers and dealers 880.6 882.7 906.1 871.8 881.0 914.2 906.1 1114.0 1033.6 25

 26 FL504123005 Other financial business 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 17.7 26

 27 FL264123005 Rest of the world 543.7 597.3 689.2 606.3 646.2 676.8 689.2 777.2 740.0 27

 28 FL894123005 Total assets 25917.0 27080.6 28099.5 27371.0 27701.4 27828.4 28099.5 29250.4 29126.9 28

 29 FL384023005 Domestic nonfinancial sectors 2749.4 2824.9 2934.8 2852.3 2853.1 2924.9 2934.8 3100.1 3199.0 29

 30 FL154023005 Household sector 903.0 882.1 890.1 869.9 872.0 901.4 890.1 1032.3 1005.9 30

 31 FL104023005 Nonfinancial corporate business 71.6 73.8 74.0 72.9 73.4 73.9 74.0 76.7 77.2 31

 32 FL114023005 Nonfinancial noncorporate business 48.0 51.7 54.9 52.5 53.2 54.1 54.9 58.5 60.1 32

 33 FL314023005 Federal government 1481.4 1580.5 1674.0 1619.1 1626.2 1661.8 1674.0 1703.4 1823.3 33

 34 FL213065005 State and local governments 245.5 236.8 241.8 237.8 228.3 233.7 241.8 229.1 232.5 34

 35 FL794023005 Domestic financial sectors 22791.8 23522.4 24333.9 23741.7 24053.7 24105.7 24333.9 25272.6 25046.9 35

 36 FL713068005 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.7 31.2 36

 37 FL764023005 U.S.-chartered depository institutions 8984.8 9427.5 9784.9 9408.7 9570.2 9664.5 9784.9 10189.2 10260.4 37

 38 FL754023005 Foreign banking offices in U.S. 706.8 739.5 767.9 750.8 762.0 760.7 767.9 926.4 859.8 38

 39 FL744023003 Banks in U.S.-affiliated areas 38.4 37.1 40.7 37.9 39.3 38.3 40.7 41.3 43.4 39

 40 FL474023000 Credit unions 978.4 1065.2 1133.6 1069.7 1090.9 1112.9 1133.6 1143.6 1160.5 40

 41 FL513065505 Property-casualty insurance companies 17.8 20.5 22.9 20.8 20.9 20.9 22.9 23.6 23.8 41

 42 FL544023005 Life insurance companies 675.7 737.2 784.7 750.3 757.4 774.2 784.7 799.8 799.7 42

 43 FL573065005 Private pension funds 26.7 23.8 25.1 24.1 24.4 24.8 25.1 25.7 26.0 43

 44 FL313169003 Federal government retirement funds 151.7 0.0 15.8 215.3 216.7 23.1 15.8 15.7 0.0 44

 45 FL223065043 State and local govt. retirement funds 6.9 12.3 8.7 9.7 9.4 9.2 8.7 9.7 9.6 45

 46 FL653069803 Mutual funds 173.7 163.3 144.1 155.4 149.7 146.4 144.1 140.5 137.4 46

 47 FL404023005 Government-sponsored enterprises 6051.4 6195.6 6289.3 6161.1 6210.6 6247.8 6289.3 6508.2 6397.4 47

 48 FL413065005 Agency- and GSE-backed mortgage pools 2126.8 2292.6 2407.3 2315.8 2341.5 2370.2 2407.3 2431.6 2419.8 48

 49 FL674023005 ABS issuers 1024.3 1008.5 1046.7 1012.0 1010.0 1040.1 1046.7 1077.0 1064.0 49

 50 FL614023005 Finance companies 1052.3 1046.2 1041.5 1050.6 1053.2 1048.9 1041.5 1043.7 1014.7 50

 51 FL643065005 REITs 234.8 255.0 273.5 264.8 276.0 285.2 273.5 250.3 247.6 51

 52 FL663069005 Brokers and dealers 399.3 375.5 410.6 368.7 389.0 392.1 410.6 431.9 410.1 52

 53 FL733069005 Holding companies 123.1 104.3 117.7 107.2 112.9 125.9 117.7 128.7 119.0 53

 54 FL503069805 Other financial business 19.0 18.3 19.0 18.7 19.6 20.5 19.0 26.8 22.3 54

 55 FL263069500 Rest of the world 375.8 733.3 830.8 777.0 794.6 797.8 830.8 877.7 880.9 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
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124 Z.1, September 21, 2020

L.215 Depository Institution Loans Not Elsewhere Classified (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL793068005 Total liabilities 3395.5 3675.8 3818.0 3686.8 3764.5 3783.6 3818.0 4461.8 4493.0 1

 2 FL153168005 Household sector 299.1 337.0 344.8 322.6 337.0 332.2 344.8 383.7 378.9 2

 3 FL103168005 Nonfinancial corporate business 920.5 990.4 1011.1 1001.8 1011.0 1007.0 1011.1 1337.5 1331.0 3

 4 FL113168005 Nonfinancial noncorporate business 1387.3 1491.1 1519.9 1506.4 1521.1 1514.7 1519.9 1605.0 1745.5 4

 5 FL793168005 Domestic financial sectors 301.2 310.6 310.7 308.4 306.5 310.1 310.7 421.5 352.4 5

 6 FL613168005 Finance companies 144.7 147.1 152.7 150.1 148.9 152.1 152.7 159.6 165.3 6

 7 FL643168005 REITs 36.3 39.6 30.7 36.8 33.7 31.4 30.7 70.5 41.9 7

 8 FL663168005 Brokers and dealers 120.2 124.0 127.3 121.5 123.8 126.6 127.3 191.3 129.8 8

 9 FL713068505 Other financial business (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 9

 10 FL263168005 Rest of the world 487.3 546.7 631.5 547.5 589.0 619.6 631.5 714.2 685.2 10

 11 FL263168465 Foreign official institutions 4.2 4.3 3.4 3.8 3.7 3.0 3.4 3.1 2.7 11

 12 FL263168485 Foreign nonfinancial corporations 199.5 202.2 195.4 202.9 201.6 195.9 195.4 228.6 222.7 12

 13 FL263168495 Foreign nondepository financial institutions 283.6 340.2 432.7 340.8 383.7 420.7 432.7 482.5 459.9 13

 14 FL793068005 Total assets 3395.5 3675.8 3818.0 3686.8 3764.5 3783.6 3818.0 4461.8 4493.0 14

 15 FL713068005 Monetary authority (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.7 31.2 15

 16 FL763068005 U.S.-chartered depository institutions 2674.5 2927.9 3026.5 2928.9 2985.9 3008.8 3026.5 3459.0 3575.9 16

 17 FL753068005 Foreign banking offices in U.S. 629.8 661.9 686.8 672.9 683.6 679.9 686.8 843.1 777.8 17

 18 FL743068005 Banks in U.S.-affiliated areas 12.6 13.1 18.1 14.2 15.9 15.4 18.1 19.4 21.0 18

 19 FL473068005 Credit unions 78.6 73.0 86.6 70.8 79.2 79.5 86.6 81.7 87.1 19

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to Federal Reserve funding, credit, and liquidity facility special purpose vehicles.

(3) Loans from Federal Reserve banks to the household, broker and dealer, finance companies, and other financial business sectors.
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L.216 Other Loans and Advances

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893169005 Total other loans and advances 3816.5 3977.6 4092.5 4175.9 4241.5 4071.3 4092.5 4509.7 4270.7 1

 2 FL313069205 U.S. government loans 215.7 220.8 230.8 225.4 226.9 227.1 230.8 227.3 341.0 2

 3 FL153169203 Liab.: Household sector 28.5 34.5 38.9 35.7 37.0 37.9 38.9 40.0 72.1 3

 4 FL103169205 Nonfinancial corporate business 74.4 74.4 78.4 76.3 77.0 76.9 78.4 73.4 102.1 4

 5 FL113169205 Nonfinancial noncorporate business 56.6 58.3 60.9 59.1 58.9 58.8 60.9 62.1 115.7 5

 6 FL213169203 State and local governments 18.9 20.1 21.1 20.3 20.6 20.8 21.1 21.2 21.4 6

 7 FL403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FL313069223 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FL503169205 Other financial business 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 9

 10 FL263169203 Rest of the world 34.9 31.2 29.1 31.6 31.1 30.4 29.1 28.3 27.4 10

 11 FL313169003 Federal government retirement funds loans 151.7 0.0 15.8 215.3 216.7 23.1 15.8 15.7 0.0 11

 12 FL313169003 Liab.: Federal government 151.7 0.0 15.8 215.3 216.7 23.1 15.8 15.7 0.0 12

 13 FL263069500 Foreign loans to U.S. corporate business 375.8 733.3 830.8 777.0 794.6 797.8 830.8 877.7 880.9 13

 14 FL263069500 Liab.: Nonfinancial corporate business 375.8 733.3 830.8 777.0 794.6 797.8 830.8 877.7 880.9 14

 Customers’ liability on acceptances outstanding

 15 FL763069703 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL753069703 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FL103169705 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL263169705 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FL733069005 Holding company loans 123.1 104.3 117.7 107.2 112.9 125.9 117.7 128.7 119.0 19

 20 FL733069013 Liab.: Nonfinancial corporate business 101.6 84.9 89.1 80.1 86.8 99.1 89.1 94.0 91.7 20

 21 FL733069023 Rest of the world 21.5 19.4 28.6 27.1 26.1 26.8 28.6 34.7 27.4 21

 22 FL153169405 Policy loans (Household liability) 134.1 134.2 131.3 133.2 132.5 132.8 131.3 132.4 131.7 22

 23 FL313069403 Asset: Federal government 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 23

 24 FL543069405 Life insurance companies 133.8 134.0 131.1 133.0 132.3 132.6 131.1 132.2 131.5 24

 25 FL403069330 Federal Home Loan Banks advances (1) 732.1 729.5 638.9 670.9 686.5 654.9 638.9 797.2 547.7 25

 26 FL763169335 Liab.: U.S.-chartered depository institutions 586.5 577.3 484.9 524.1 540.5 502.0 484.9 615.1 380.3 26

 27 FL473169333 Credit unions 54.8 57.7 52.3 50.7 51.4 54.2 52.3 62.9 50.5 27

 28 FL513169333 Property-casualty insurance companies 2.9 3.3 3.5 3.8 3.3 3.4 3.5 6.0 6.3 28

 29 FL543169373 Life insurance companies 74.8 81.1 88.7 82.2 82.2 86.1 88.7 107.7 108.2 29

 30 FL613169333 Finance companies 3.4 0.6 1.0 0.6 0.6 0.9 1.0 0.9 0.6 30

 31 FL643169373 Real estate investment trusts 9.8 9.4 8.5 9.4 8.5 8.4 8.5 4.6 1.7 31

 32 FL403069395 Government-sponsored enterprise (GSE) loans (2) 125.6 132.4 139.7 133.6 134.6 132.4 139.7 143.9 144.0 32

 33 FL153169305 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 FL183169305 Nonfinancial corporate business (FCS) 10.9 11.9 13.0 12.9 12.7 11.8 13.0 14.2 13.3 34

 35 FL113169305 Nonfinancial noncorporate business (FCS) 114.7 120.4 126.7 120.7 121.9 120.7 126.7 129.7 130.7 35

 36 FL763169383 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FL673069505 Securitized loans held by ABS issuers 0.4 0.4 0.0 0.5 0.5 0.5 0.0 0.0 0.0 37

 38 FL673069505 Liab.: Nonfinancial corporate business 0.4 0.4 0.0 0.5 0.5 0.5 0.0 0.0 0.0 38

 39 FL613069500 Finance company loans to business 387.2 397.1 386.7 401.0 401.2 394.0 386.7 400.0 368.5 39

 40 FL103169535 Liab.: Nonfinancial corporate business 348.5 357.3 348.0 360.9 361.1 354.6 348.0 360.0 331.7 40

 41 FL113169535 Nonfinancial noncorporate business 38.7 39.7 38.7 40.1 40.1 39.4 38.7 40.0 36.9 41

 42 FL663067003 Margin accounts at brokers and dealers 333.3 302.3 325.7 292.4 310.6 309.0 325.7 337.7 319.4 42

 43 FL663067003 Liab.: Household sector 333.3 302.3 325.7 292.4 310.6 309.0 325.7 337.7 319.4 43

 44 FL153067005 Cash accounts at brokers and dealers 760.4 758.7 778.8 750.3 757.1 787.6 778.8 922.7 903.8 44

 45 FL153067005 Asset: Household sector 760.4 758.7 778.8 750.3 757.1 787.6 778.8 922.7 903.8 45

 46 FL103169803 Loans to nonfinancial corporate business (3) 477.1 464.6 496.5 469.0 467.3 486.2 496.5 526.3 514.4 46

 47 FL153069803 Asset: Household sector 25.8 23.4 25.7 23.3 22.2 24.8 25.7 28.0 24.7 47

 48 FL543069873 Life insurance companies 35.2 35.1 34.4 35.8 34.7 36.2 34.4 38.9 37.0 48

 49 FL653069803 Mutual funds 173.7 163.3 144.1 155.4 149.7 146.4 144.1 140.5 137.4 49

 50 FL673069803 ABS issuers 157.4 151.4 188.3 159.6 162.6 175.1 188.3 197.9 202.4 50

 51 FL663069803 Brokers and dealers 66.0 73.2 85.0 76.3 78.4 83.1 85.0 94.2 90.7 51

 52 FL503069805 Other financial business 19.0 18.3 19.0 18.7 19.6 20.5 19.0 26.8 22.3 52

 53 FL503069003 Other financial business loans (TALF II) (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 53

 54 FL503069003 Liab.: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 54

(1) The Federal Home Loan Banks are included in the governmnet-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 25.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.

(4) 2020 Term Asset-Backed Securities Loan Facility (TALF II) loans to domestic hedge funds and private equity funds.
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L.217 Total Mortgages (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893065005 Total mortgages 14892.0 15429.1 16008.4 15519.8 15654.4 15856.1 16008.4 16139.0 16284.1 1

 2 FL893065105 One-to-four-family residential 10581.5 10871.8 11157.6 10901.4 10984.1 11085.5 11157.6 11219.4 11303.8 2

 3 FL893065405 Multifamily residential 1358.6 1480.6 1617.7 1505.5 1529.8 1577.6 1617.7 1637.4 1671.8 3

 4 FL893065505 Commercial 2715.7 2831.0 2966.4 2862.0 2884.4 2931.5 2966.4 3011.7 3034.3 4

 5 FL893065603 Farm 236.2 245.7 266.8 250.9 256.2 261.5 266.8 270.5 274.2 5

 6 FL893065005 Total liabilities 14892.0 15429.1 16008.4 15519.8 15654.4 15856.1 16008.4 16139.0 16284.1 6

 7 FL153165005 Household sector 10173.8 10454.2 10733.3 10483.5 10564.3 10662.1 10733.3 10792.2 10875.3 7

 8 FL143165005 Nonfinancial business 4476.2 4748.7 5050.2 4815.8 4870.3 4973.7 5050.2 5121.0 5185.1 8

 9 FL103165005 Corporate 530.9 583.1 631.7 599.0 603.8 620.8 631.7 640.7 649.9 9

 10 FL113165005 Noncorporate 3945.3 4165.6 4418.5 4216.8 4266.6 4352.9 4418.5 4480.3 4535.2 10

 11 FL313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL123165005 REITs 242.0 226.2 224.9 220.5 219.7 220.3 224.9 225.8 223.7 12

 13 FL893065005 Total assets 14892.0 15429.1 16008.4 15519.8 15654.4 15856.1 16008.4 16139.0 16284.1 13

 14 FL153065005 Household sector 81.6 68.7 58.0 66.0 63.3 60.6 58.0 55.1 51.7 14

 15 FL103065003 Nonfinancial corporate business 32.2 34.2 34.3 34.5 34.7 35.0 34.3 38.3 38.5 15

 16 FL113065005 Nonfinancial noncorporate business 48.0 51.7 54.9 52.5 53.2 54.1 54.9 58.5 60.1 16

 17 FL313065005 Federal government 119.8 123.2 123.8 123.9 120.7 123.5 123.8 125.3 126.7 17

 18 FL313065015 Ginnie Mae 3.2 2.8 2.5 2.7 2.6 2.6 2.5 2.4 2.4 18

 19 FL313065075 Farmers Home Administration (FmHA) (2) 102.5 105.7 105.8 106.3 102.9 105.6 105.8 107.4 108.7 19

 20 FL313065035 Federal Housing Administration (FHA) 14.1 14.6 15.5 14.9 15.1 15.3 15.5 15.5 15.6 20

 21 FL313065065 Federal Deposit Insurance Corporation 0.1 0.1 0.0 0.1 0.1 0.0 0.0 0.0 0.0 21

 22 FL313065095 Other (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL213065005 State and local governments 245.5 236.8 241.8 237.8 228.3 233.7 241.8 229.1 232.5 23

 24 FL703065005 Private depository institutions 5282.7 5442.5 5655.7 5464.2 5540.7 5593.3 5655.7 5704.3 5739.8 24

 25 FL763065005 U.S.-chartered depository institutions 4698.5 4817.7 4987.5 4835.4 4900.0 4939.8 4987.5 5020.5 5040.1 25

 26 FL753065005 Foreign banking offices in U.S. 77.1 77.6 81.1 77.8 78.4 80.9 81.1 83.3 82.0 26

 27 FL743065003 Banks in U.S.-affiliated areas 25.8 24.1 22.6 23.7 23.4 22.8 22.6 21.9 22.4 27

 28 FL473065100 Credit unions 481.4 523.0 564.5 527.4 538.9 549.8 564.5 578.7 595.3 28

 29 FL513065505 Property-casualty insurance companies 17.8 20.5 22.9 20.8 20.9 20.9 22.9 23.6 23.8 29

 30 FL543065005 Life insurance companies 506.7 568.1 619.2 581.6 590.4 605.4 619.2 628.7 631.2 30

 31 FL573065005 Private pension funds 26.7 23.8 25.1 24.1 24.4 24.8 25.1 25.7 26.0 31

 32 FL223065043 State and local govt. retirement funds 6.9 12.3 8.7 9.7 9.4 9.2 8.7 9.7 9.6 32

 33 FL403065005 Government-sponsored enterprises 5193.7 5333.8 5510.7 5356.6 5389.4 5460.5 5510.7 5567.1 5705.8 33

 34 FL403065015 Fannie Mae 3155.7 3223.8 3300.0 3232.8 3243.5 3280.2 3300.0 3330.7 3417.8 34

 35 FL403065025 Freddie Mac 1853.7 1909.8 1993.3 1922.0 1939.9 1969.3 1993.3 2014.8 2063.4 35

 36 FL403065045 Farm Credit System 126.7 133.6 139.6 133.3 134.8 136.6 139.6 141.3 145.3 36

 37 FL403065035 FHLB 53.8 62.5 72.4 64.0 66.5 69.4 72.4 74.5 72.9 37

 38 FL403065653 Farmer Mac 3.9 4.0 5.4 4.5 4.8 5.0 5.4 5.8 6.5 38

 39 FL413065005 Agency- and GSE-backed mortgage pools 2126.8 2292.6 2407.3 2315.8 2341.5 2370.2 2407.3 2431.6 2419.8 39

 40 FL413065015 Ginnie Mae 1913.4 2042.2 2117.6 2058.4 2076.4 2092.8 2117.6 2138.8 2125.6 40

 41 FL413065025 Freddie Mac 200.2 241.0 281.0 248.2 255.8 268.2 281.0 284.2 285.6 41

 42 FL413065045 Fannie Mae 11.5 7.9 7.6 7.8 7.8 7.7 7.6 7.6 7.5 42

 43 FL413065653 Farmer Mac 1.7 1.5 1.1 1.5 1.5 1.4 1.1 1.1 1.0 43

 44 FL413065035 Farmers Home Administration (FmHA) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 FL673065005 ABS issuers 845.1 851.2 855.3 847.1 842.7 861.0 855.3 876.3 859.1 45

 46 FL613065000 Finance companies 123.8 114.8 117.2 120.3 118.7 118.9 117.2 115.3 111.8 46

 47 FL643065005 REITs 234.8 255.0 273.5 264.8 276.0 285.2 273.5 250.3 247.6 47

(1) Sum of one-to-four-family residential mortgages (table L.218), multifamily residential mortgages (table L.219), commercial mortgages (table L.220), and farm mortgages (table L.221).

(2) FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting changes by

 the Farmers Home Administration.

(3) Other includes Department of Veterans Affairs, Federal Financing Bank, Public Housing Administration, and Resolution Trust Corporation.
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L.218 One-to-four-family Residential Mortgages (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893065105 Total liabilities 10581.5 10871.8 11157.6 10901.4 10984.1 11085.5 11157.6 11219.4 11303.8 1

 2 FL153165105 Household sector 9914.4 10185.1 10454.9 10212.1 10290.6 10386.0 10454.9 10511.5 10592.4 2

 3 FL103165105 Nonfinancial corporate business 16.1 17.1 17.2 17.3 17.2 17.4 17.2 17.6 17.3 3

 4 FL113165105 Nonfinancial noncorporate business 651.0 669.6 685.4 672.0 676.2 682.1 685.4 690.3 694.2 4

 5 FL893065105 Total assets 10581.5 10871.8 11157.6 10901.4 10984.1 11085.5 11157.6 11219.4 11303.8 5

 6 FL153065103 Household sector 69.9 59.3 48.7 56.6 54.0 51.3 48.7 46.0 43.4 6

 7 FL103065105 Nonfinancial corporate business 19.3 20.5 20.6 20.7 20.8 21.0 20.6 23.0 23.1 7

 8 FL113065103 Nonfinancial noncorporate business 17.5 18.9 20.0 19.1 19.4 19.7 20.0 21.4 21.9 8

 9 FL313065105 Federal government 29.1 29.2 29.2 29.3 29.0 29.2 29.2 29.5 29.5 9

 10 FL213065103 State and local governments 126.4 121.9 124.5 122.5 117.6 120.4 124.5 118.0 119.7 10

 11 FL763065105 U.S.-chartered depository institutions 2556.9 2586.0 2635.4 2580.5 2613.6 2622.5 2635.4 2632.5 2622.4 11

 12 FL753065103 Foreign banking offices in U.S. 1.1 1.6 1.5 1.6 1.6 1.6 1.5 1.4 1.5 12

 13 FL743065103 Banks in U.S.-affiliated areas 15.3 14.1 13.2 13.8 13.6 13.4 13.2 12.7 13.1 13

 14 FL473065100 Credit unions 481.4 523.0 564.5 527.4 538.9 549.8 564.5 578.7 595.3 14

 15 FL543065105 Life insurance companies 25.2 31.5 38.4 33.2 34.5 36.3 38.4 39.4 39.5 15

 16 FL573065103 Private pension funds 0.9 0.8 0.7 0.8 0.7 0.7 0.7 0.6 0.6 16

 17 FL223065143 State and local govt. retirement funds 2.5 4.4 3.1 3.5 3.4 3.3 3.1 3.5 3.5 17

 18 FL403065105 Government-sponsored enterprises 4775.6 4883.9 5018.6 4898.8 4919.7 4974.8 5018.6 5068.3 5184.3 18

 19 FL413065105 Agency- and GSE-backed mortgage pools 1826.0 1949.1 2026.0 1965.1 1984.0 2001.1 2026.0 2047.5 2033.1 19

 20 FL673065105 ABS issuers 474.2 467.6 451.8 466.5 467.0 469.9 451.8 458.9 444.1 20

 21 FL613065105 Finance companies 95.2 87.1 85.4 88.9 87.0 86.9 85.4 83.6 79.1 21

 22 FL643065105 REITs 65.1 72.8 76.0 73.4 79.3 83.6 76.0 54.5 49.6 22

 Memo:

 23 FL893065125 Home equity loans included above (2) 569.9 533.3 501.3 524.0 519.0 509.5 501.3 495.3 474.1 23

 24 FL763065125 U.S.-chartered depository institutions 460.4 420.2 383.6 409.4 402.0 392.6 383.6 378.7 363.1 24

 25 FL753065203 Foreign banking offices in U.S. 0.3 0.2 0.3 0.2 0.2 0.2 0.3 0.3 0.3 25

 26 FL473065125 Credit unions 84.1 89.5 93.0 89.9 92.7 92.4 93.0 92.6 88.2 26

 27 FL673065123 ABS issuers 6.0 6.0 7.3 6.7 6.6 7.0 7.3 7.0 6.6 27

 28 FL613065123 Finance companies 19.0 17.4 17.1 17.8 17.4 17.4 17.1 16.7 15.8 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

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

 1 FL893065405 Total liabilities 1358.6 1480.6 1617.7 1505.5 1529.8 1577.6 1617.7 1637.4 1671.8 1

 2 FL103165405 Nonfinancial corporate business 66.5 72.8 79.7 74.1 75.4 77.8 79.7 80.7 82.4 2

 3 FL113165405 Nonfinancial noncorporate business 1263.7 1383.8 1515.2 1408.6 1432.0 1477.9 1515.2 1533.3 1565.7 3

 4 FL313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL123165403 REITs 28.4 24.0 22.8 22.7 22.4 21.9 22.8 23.4 23.8 5

 6 FL893065405 Total assets 1358.6 1480.6 1617.7 1505.5 1529.8 1577.6 1617.7 1637.4 1671.8 6

 7 FL153065403 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FL103065403 Nonfinancial corporate business 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 8

 9 FL113065403 Nonfinancial noncorporate business 16.4 17.7 18.8 17.9 18.2 18.5 18.8 20.0 20.5 9

 10 FL313065405 Federal government 12.2 11.9 11.6 11.9 8.2 11.6 11.6 11.4 11.3 10

 11 FL213065403 State and local governments 98.2 94.7 96.7 95.1 91.3 93.5 96.7 91.6 93.0 11

 12 FL763065403 U.S.-chartered depository institutions 444.5 472.2 501.9 478.0 487.5 494.9 501.9 513.0 520.1 12

 13 FL753065403 Foreign banking offices in U.S. 6.0 9.5 11.5 9.9 10.5 10.7 11.5 12.7 13.0 13

 14 FL543065405 Life insurance companies 115.1 136.9 162.1 143.1 148.4 155.4 162.1 164.7 167.2 14

 15 FL573065403 Private pension funds 1.4 1.1 0.8 1.0 1.0 0.9 0.8 0.8 0.7 15

 16 FL223065443 State and local govt. retirement funds 2.1 3.7 2.6 2.9 2.8 2.7 2.6 2.9 2.9 16

 17 FL403065405 Government-sponsored enterprises 307.1 332.9 364.0 338.0 347.2 360.4 364.0 368.6 388.9 17

 18 FL413065405 Agency- and GSE-backed mortgage pools 299.1 342.1 380.2 349.3 356.0 367.7 380.2 383.0 385.7 18

 19 FL673065405 ABS issuers 43.3 43.8 46.4 41.1 41.3 42.9 46.4 52.5 52.8 19

 20 FL613065403 Finance companies 6.6 5.9 5.7 5.8 5.8 5.8 5.7 5.7 5.6 20

 21 FL643065405 REITs 6.3 7.7 14.8 10.9 11.2 12.2 14.8 10.0 9.5 21
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L.220 Commercial Mortgages

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893065505 Total liabilities 2715.7 2831.0 2966.4 2862.0 2884.4 2931.5 2966.4 3011.7 3034.3 1

 2 FL163165505 Nonprofit organizations (1) 259.4 269.1 278.4 271.4 273.7 276.1 278.4 280.7 282.9 2

 3 FL103165505 Nonfinancial corporate business 387.4 429.6 465.3 442.6 444.9 457.9 465.3 471.8 478.4 3

 4 FL113165505 Nonfinancial noncorporate business 1855.3 1930.2 2020.5 1950.2 1968.4 1999.1 2020.5 2056.8 2073.0 4

 5 FL123165503 REITs 213.6 202.3 202.1 197.8 197.3 198.4 202.1 202.4 200.0 5

 6 FL893065505 Total assets 2715.7 2831.0 2966.4 2862.0 2884.4 2931.5 2966.4 3011.7 3034.3 6

 7 FL153065505 Household sector 1.1 1.1 1.2 1.1 1.2 1.2 1.2 1.2 1.2 7

 8 FL103065503 Nonfinancial corporate business 12.4 13.2 13.2 13.3 13.4 13.5 13.2 14.7 14.8 8

 9 FL113065503 Nonfinancial noncorporate business 13.1 14.1 15.0 14.4 14.5 14.8 15.0 16.0 16.4 9

 10 FL313065505 Federal government 71.4 74.2 74.1 74.8 75.3 74.1 74.1 75.3 76.3 10

 11 FL213065503 State and local governments 19.6 18.9 19.3 19.0 18.3 18.7 19.3 18.3 18.6 11

 12 FL763065503 U.S.-chartered depository institutions 1608.7 1666.8 1749.5 1682.2 1702.2 1723.6 1749.5 1772.9 1794.0 12

 13 FL753065503 Foreign banking offices in U.S. 69.9 66.3 67.9 66.1 66.1 68.4 67.9 69.0 67.3 13

 14 FL743065505 Banks in U.S.-affiliated areas 10.5 10.0 9.4 9.9 9.8 9.5 9.4 9.2 9.3 14

 15 FL513065505 Property-casualty insurance companies 17.8 20.5 22.9 20.8 20.9 20.9 22.9 23.6 23.8 15

 16 FL543065505 Life insurance companies 351.4 383.8 401.4 389.1 391.0 396.8 401.4 407.1 406.8 16

 17 FL573065505 Private pension funds 24.3 21.9 23.6 22.3 22.7 23.2 23.6 24.3 24.7 17

 18 FL223065545 State and local govt. retirement funds 2.3 4.2 2.9 3.3 3.2 3.1 2.9 3.3 3.3 18

 19 FL413065505 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL673065505 ABS issuers 327.6 339.8 357.1 339.5 334.4 348.2 357.1 364.9 362.2 20

 21 FL613065503 Finance companies 22.0 21.8 26.1 25.6 25.9 26.2 26.1 26.0 27.1 21

 22 FL643065505 REITs 163.5 174.5 182.6 180.5 185.5 189.4 182.6 185.8 188.4 22

(1) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

L.221 Farm Mortgages (1)

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

 1 FL893065603 Total liabilities 236.2 245.7 266.8 250.9 256.2 261.5 266.8 270.5 274.2 1

 2 FL183165605 Nonfinancial corporate business 60.9 63.6 69.4 64.9 66.3 67.8 69.4 70.6 71.7 2

 3 FL233165605 Nonfinancial noncorporate business 175.3 182.1 197.4 186.0 189.9 193.7 197.4 199.9 202.4 3

 4 FL893065603 Total assets 236.2 245.7 266.8 250.9 256.2 261.5 266.8 270.5 274.2 4

 5 FL153065605 Household sector 10.6 8.3 8.2 8.2 8.1 8.1 8.2 7.8 7.1 5

 6 FL113065603 Nonfinancial noncorporate business 1.0 1.0 1.1 1.1 1.1 1.1 1.1 1.2 1.2 6

 7 FL313065605 Federal government 7.1 7.9 8.9 7.9 8.2 8.6 8.9 9.2 9.6 7

 8 FL213065603 State and local governments 1.2 1.2 1.2 1.2 1.1 1.2 1.2 1.1 1.2 8

 9 FL763065633 U.S.-chartered depository institutions 88.4 92.8 100.8 94.8 96.8 98.8 100.8 102.2 103.5 9

 10 FL753065603 Foreign banking offices in U.S. 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 10

 11 FL543065633 Life insurance companies 15.0 15.9 17.3 16.2 16.6 16.9 17.3 17.5 17.7 11

 12 FL223065643 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL403065605 Government-sponsored enterprises 111.1 117.0 128.1 119.9 122.6 125.3 128.1 130.2 132.6 13

 14 FL413065605 Agency- and GSE-backed mortgage pools 1.7 1.5 1.1 1.5 1.5 1.4 1.1 1.1 1.0 14

(1) Excludes mortgages on farm houses.
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L.222 Consumer Credit

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL153166000 Total liabilities (Households) 3813.0 3998.1 4180.6 3988.5 4040.9 4117.3 4180.6 4139.9 4079.1 1

 2 FL153166000 Total assets 3813.0 3998.1 4180.6 3988.5 4040.9 4117.3 4180.6 4139.9 4079.1 2

 3 FL163066223 Nonprofit organizations (1) 35.2 31.3 27.7 30.3 29.3 28.4 27.7 26.5 25.7 3

 4 FL103066005 Nonfinancial corporate business 39.4 39.6 39.6 38.5 38.7 38.9 39.6 38.5 38.7 4

 5 FL113066003 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FL313066220 Federal government (2) 1145.6 1236.3 1319.2 1269.6 1278.3 1311.0 1319.2 1350.6 1355.4 6

 7 FL763066000 U.S.-chartered depository institutions 1611.8 1681.9 1770.9 1644.5 1684.3 1715.9 1770.9 1709.8 1644.4 7

 8 FL473066000 Credit unions 418.4 469.2 482.4 471.6 472.8 483.6 482.4 483.3 478.1 8

 9 FL403066005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL673066000 ABS issuers 21.4 5.5 3.1 4.7 4.1 3.5 3.1 2.8 2.5 10

 11 FL613066005 Finance companies 541.3 534.4 537.6 529.4 533.3 536.0 537.6 528.4 534.3 11

 Memo:

 12 FL153166100 Credit card loans (3) 1018.1 1054.6 1094.2 1005.8 1032.2 1045.1 1094.2 1022.8 953.8 12

 13 FL153166400 Auto loans 1104.6 1142.7 1187.0 1149.8 1161.9 1180.5 1187.0 1187.1 1198.3 13

 14 FL153166220 Student loans (4) 1492.5 1575.6 1648.7 1606.8 1612.8 1645.9 1648.7 1674.5 1676.7 14

 15 FL153166205 Other consumer credit (5) 197.9 225.3 250.7 226.0 234.0 245.8 250.7 255.5 250.3 15

(1) Student loans originated under the Federal Family Education Loan Program. Asset of the households and nonprofit organizations sector (tables L.101 and B.101).

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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L.223 Corporate Equities (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 LM893064105 Issues at market value 48222.9 43973.9 54984.2 49583.1 51071.8 51074.1 54984.2 42835.4 51956.2 1

 2 LM883164105 Domestic sectors 39104.7 36074.3 45525.1 40896.0 42177.3 42353.2 45525.1 35474.2 43474.1 2

 3 LM103164103 Nonfinancial corporate business 29075.4 26826.8 34066.5 30769.7 31561.6 31659.4 34066.5 26883.4 33506.7 3

 4 LM103164113 Publicly traded (2) 23548.7 21729.1 27633.9 24772.2 25582.3 25597.7 27633.9 22367.7 27772.6 4

 5 LM103164123 Closely held 5526.8 5097.7 6432.6 5997.5 5979.3 6061.6 6432.6 4515.6 5734.1 5

 6 LM793164105 Financial corporations 10029.3 9247.5 11458.7 10126.3 10615.6 10693.8 11458.7 8590.8 9967.4 6

 7 LM793164115 Publicly traded (3) 9513.0 8726.8 10836.7 9535.1 10020.7 10075.6 10836.7 8155.3 9415.9 7

 8 LM793164123 Closely held 516.3 520.7 621.9 591.2 595.0 618.2 621.9 435.5 551.6 8

 9 LM263164100 Rest of the world (4) 9118.1 7899.6 9459.1 8687.2 8894.6 8720.9 9459.1 7361.2 8482.0 9

 10 LM893064105 Holdings at market value 48222.9 43973.9 54984.2 49583.1 51071.8 51074.1 54984.2 42835.4 51956.2 10

 11 LM153064105 Household sector 18278.2 16559.2 21287.4 19327.4 19634.9 19789.2 21287.4 16000.7 19518.7 11

 12 LM103064103 Nonfinancial corporate business 1948.3 1791.2 2308.7 2025.3 2102.0 2127.1 2308.7 1847.0 2215.5 12

 13 LM313064105 Federal government 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 13

 14 LM213064103 State and local governments 151.5 137.7 173.2 155.4 160.2 160.3 173.2 135.4 163.6 14

 15 FL713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 LM763064105 U.S.-chartered depository institutions 127.6 109.1 147.7 129.5 135.2 133.9 147.7 95.9 118.9 16

 17 FL753064103 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 LM513064105 Property-casualty insurance companies 410.6 392.1 493.9 417.4 436.7 457.2 493.9 396.1 430.2 18

 19 LM543064105 Life insurance companies 622.8 537.8 644.2 586.7 605.8 610.6 644.2 545.6 606.1 19

 20 LM573064105 Private pension funds 2713.0 2448.0 3135.8 2765.1 2911.3 2907.9 3135.8 2494.5 3047.6 20

 21 LM343064105 Federal government retirement funds 324.2 292.1 370.5 331.0 341.4 339.4 370.5 277.9 342.6 21

 22 LM223064145 State and local govt. retirement funds 2706.8 2478.6 2498.4 2417.1 2505.7 2394.2 2498.4 2151.2 2553.3 22

 23 LM653064100 Mutual funds 10819.6 9657.5 11934.5 10880.2 11184.0 11073.5 11934.5 9203.8 11172.6 23

 24 LM553064103 Closed-end funds 109.3 91.2 107.2 101.9 103.6 103.0 107.2 79.6 92.1 24

 25 LM563064100 Exchange-traded funds 2775.6 2669.2 3486.2 3010.9 3116.6 3150.6 3486.2 2715.2 3283.5 25

 26 LM663064103 Brokers and dealers 182.7 147.7 166.7 158.8 180.1 175.5 166.7 144.7 180.4 26

 27 FL503064105 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.0 27

 28 LM263064105 Rest of the world (5) 7019.4 6629.5 8196.8 7243.4 7621.2 7618.3 8196.8 6714.7 8189.8 28

 Memo:

 29 LM883164115 Publicly traded equity at market value (6) 33061.7 30455.9 38470.6 34307.3 35603.0 35673.3 38470.6 30523.0 37188.5 29

 30 LM883164125 Closely held equity at market value (7) 6043.1 5618.4 7054.5 6588.7 6574.2 6679.9 7054.5 4951.1 6285.6 30

 31 LM883164133 S corporations 4257.1 3913.8 5177.3 4717.0 4839.9 4870.8 5177.3 3653.7 4663.9 31

 32 LM883164135 C corporations 1785.9 1704.6 1877.3 1871.7 1734.4 1809.0 1877.3 1297.4 1621.7 32

 33 PC073164013 Percent change in Dow Jones U.S. Total Market Index 18.89 -7.04 28.42 13.49 3.60 0.65 8.52 -21.34 21.52 33

(1) Includes shares of exchange-traded funds, closed-end funds, and real estate investment trusts. Excludes mutual fund shares shown on table L.224.

(2) Excludes intercorporate holdings.

(3) Includes corporate equities issued by financial corporations under the federal financial stabilization programs.

(4) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(5) Holdings of U.S. issues by foreign residents.

(6) Equal to the sum of lines 4 and 7.

(7) Equal to the sum of lines 5 and 8.

L.224 Mutual Fund Shares (1)

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

 1 LM653164205 Shares at market value 15899.0 14669.8 17659.5 16179.6 16669.6 16694.7 17659.5 14543.1 16776.1 1

 2 LM653164205 Holdings at market value 15899.0 14669.8 17659.5 16179.6 16669.6 16694.7 17659.5 14543.1 16776.1 2

 3 LM153064205 Household sector 8654.8 8005.8 10038.6 9011.4 9340.4 9380.8 10038.6 8197.4 9519.1 3

 4 LM103064203 Nonfinancial corporate business 303.0 270.9 327.3 298.4 308.2 309.8 327.3 276.2 319.4 4

 5 LM213064203 State and local governments 80.7 75.9 91.5 83.6 86.2 86.6 91.5 77.2 89.2 5

 6 LM763064203 U.S.-chartered depository institutions 64.8 52.1 61.6 56.7 58.3 58.0 61.6 45.6 51.9 6

 7 LM473064205 Credit unions 2.3 2.5 3.3 3.0 3.3 3.2 3.3 3.2 3.8 7

 8 LM513064205 Property-casualty insurance companies 24.4 21.3 25.8 23.2 25.1 25.8 25.8 22.0 26.4 8

 9 LM543064205 Life insurance companies 1572.3 1402.7 1599.4 1527.6 1551.1 1533.7 1599.4 1307.5 1495.5 9

 10 LM573064205 Private pension funds 3886.7 3594.4 4239.3 3944.4 4064.5 4040.8 4239.3 3533.8 4072.6 10

 11 LM223064205 State and local govt. retirement funds 481.3 445.0 378.8 322.5 357.6 388.5 378.8 301.3 351.2 11

 12 LM263064203 Rest of the world 828.7 799.0 893.9 909.0 874.9 867.4 893.9 778.9 847.0 12

(1) Shares of open-end investment companies; excludes shares of money market funds and exchange-traded funds.
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L.225 Trade Credit

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893170005 Total trade payables 4941.9 5449.0 5685.7 5476.1 5557.2 5643.5 5685.7 5658.6 5680.9 1

 2 FL163170005 Nonprofit organizations (1) 355.9 365.0 373.1 367.0 369.1 371.1 373.1 375.1 377.2 2

 3 FL103170005 Nonfinancial corporate business 2369.7 2690.4 2773.3 2678.9 2724.7 2758.9 2773.3 2688.3 2589.4 3

 4 FL113170005 Nonfinancial noncorporate business 593.3 667.4 729.3 682.8 695.1 717.4 729.3 746.2 702.7 4

 5 FL313170005 Federal government 308.2 365.2 382.2 372.8 375.3 377.1 382.2 383.0 533.4 5

 6 FL213170003 State and local governments 953.6 1001.7 1051.1 1013.8 1026.3 1038.6 1051.1 1063.7 1075.7 6

 7 FL513170005 Property-casualty insurance companies 68.4 76.8 79.5 77.1 78.0 78.3 79.5 80.0 81.5 7

 8 FL543170005 Life insurance companies 171.2 186.3 200.0 190.9 196.3 204.1 200.0 223.0 226.9 8

 9 FL663170003 Brokers and dealers 44.6 16.8 15.8 14.9 15.0 15.5 15.8 20.1 17.8 9

 10 LM263170005 Rest of the world 77.1 79.4 81.4 77.8 77.5 82.6 81.4 79.1 76.3 10

 11 FL893070005 Total trade receivables 5046.4 5602.0 5783.2 5676.4 5775.8 5801.2 5783.2 5760.6 5763.9 11

 12 FL163070005 Nonprofit organizations (1) 255.4 262.1 269.7 264.0 265.9 267.8 269.7 271.7 278.4 12

 13 FL103070005 Nonfinancial corporate business 3113.2 3509.6 3590.8 3553.0 3623.8 3624.2 3590.8 3524.7 3455.2 13

 14 FL113070005 Nonfinancial noncorporate business 802.9 865.8 919.3 878.8 890.4 905.7 919.3 930.2 997.6 14

 15 FL313070000 Federal government 65.0 75.4 74.1 75.8 76.9 76.4 74.1 73.7 75.6 15

 16 FL213070003 State and local governments 207.4 235.0 245.2 235.3 239.4 243.3 245.2 240.4 230.6 16

 17 FL513070005 Property-casualty insurance companies 168.2 186.1 192.7 190.1 195.9 193.6 192.7 199.7 204.9 17

 18 FL543070005 Life insurance companies 102.2 101.5 107.9 104.4 107.8 112.8 107.9 126.8 125.1 18

 19 FL673070003 ABS issuers 32.5 33.9 34.6 33.3 32.9 32.5 34.6 36.9 35.5 19

 20 FL613070103 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 20

 21 LM263070005 Rest of the world 299.6 332.7 349.0 341.9 342.8 344.9 349.0 356.5 360.4 21

 22 FL903070005 Discrepancy -104.5 -153.0 -97.4 -200.3 -218.6 -157.7 -97.4 -102.0 -83.0 22

(1) Included in the households and nonprofit organizations sector (tables L.101 and B.101).

L.226 Life Insurance Reserves

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

 1 FL893140005 Total liabilities 2158.0 2153.1 2242.9 2186.6 2204.9 2226.8 2242.9 2228.1 2255.8 1

 2 FL313140003 Federal government 51.1 51.3 52.2 51.8 51.7 52.1 52.2 52.0 52.0 2

 3 FL543140005 Life insurance companies 2008.8 2035.2 2122.4 2067.9 2085.9 2106.6 2122.4 2106.3 2134.4 3

 4 FL263140005 Rest of the world 98.1 66.6 68.3 66.9 67.3 68.2 68.3 69.7 69.3 4

 5 FL893140005 Total assets 2158.0 2153.1 2242.9 2186.6 2204.9 2226.8 2242.9 2228.1 2255.8 5

 6 FL153040005 Household sector 1626.6 1659.1 1731.3 1689.0 1702.5 1718.8 1731.3 1709.2 1736.1 6

 7 FL763040005 U.S.-chartered depository institutions 168.2 172.1 178.8 173.4 175.5 176.9 178.8 179.7 181.0 7

 8 FL543040005 Life insurance companies 286.6 250.4 257.1 251.7 253.3 256.4 257.1 262.3 260.8 8

 9 FL733040005 Holding companies 57.0 61.0 65.0 62.0 63.0 64.0 65.0 66.0 67.0 9

 10 FL543141905 Rest of the world 19.7 10.4 10.7 10.5 10.6 10.7 10.7 10.9 10.9 10
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L.227 Pension Entitlements

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893150005 Total liabilities 25996.0 25950.7 27960.5 26823.1 27203.7 27380.6 27960.5 26723.2 27942.8 1

 2 FL543150005 Life insurance companies (1) 3222.9 3174.8 3486.5 3315.3 3378.7 3411.4 3486.5 3295.8 3468.5 2

 3 FL574190005 Private pension funds (2) 10056.7 9720.7 10916.8 10293.1 10498.5 10549.5 10916.8 9920.1 10777.3 3

 4 FL344090005 Federal government retirement funds (3) 3907.3 3976.8 4149.8 4037.8 4073.5 4098.5 4149.8 4091.4 4174.0 4

 5 FL224190005 State and local govt. retirement funds 8790.1 9000.9 9326.6 9098.7 9174.0 9240.9 9326.6 9331.8 9439.2 5

 6 FL263150005 Rest of the world 18.9 77.5 80.8 78.2 79.0 80.3 80.8 84.2 83.8 6

 7 FL893150005 Total assets 25996.0 25950.7 27960.5 26823.1 27203.7 27380.6 27960.5 26723.2 27942.8 7

 8 FL153050005 Households (4) 25900.2 25743.9 27745.0 26614.4 26992.9 27166.5 27745.0 26498.6 27719.4 8

 9 FL543050005 Life insurance companies 91.4 191.4 199.5 193.2 195.2 198.2 199.5 207.8 206.8 9

 10 FL543151905 Rest of the world 4.3 15.4 16.0 15.5 15.6 15.9 16.0 16.7 16.6 10

 Memo:

 11 LM893131573 Individual Retirement Accounts (IRAs): (5) 9439.0 9250.0 11025.0 10050.0 10350.0 10475.0 11025.0 9511.0 ND 11

 12 FL763131573 U.S.-chartered depository institutions 469.2 490.2 476.5 464.5 464.5 437.5 476.5 524.1 ND 12

 13 FL473131573 Credit unions 78.4 78.3 81.7 79.2 80.2 81.3 81.7 82.7 ND 13

 14 LM543131503 Life insurance companies 647.0 621.0 680.0 648.0 660.0 666.0 680.0 640.0 ND 14

 15 FL633131573 Money market funds 240.0 265.0 314.0 266.0 279.0 300.0 314.0 369.0 ND 15

 16 LM653131573 Mutual funds 3823.0 3534.0 4282.0 3906.0 4029.0 4029.0 4282.0 3514.0 ND 16

 17 LM153131575 Other self-directed accounts 4181.3 4261.5 5190.8 4686.3 4837.3 4961.2 5190.8 4381.2 ND 17

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Asset of the household and nonprofit organizations sector (tables L.101 and B.101). Figures for depositories (lines 12 and 13) include Keogh accounts. Variable annuities in IRAs are included

 in the life insurance sector (line 14) and excluded from the money market fund and mutual fund sectors (lines 15 and 16).

L.228 Taxes Payable by Businesses

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

 1 FL893178005 Total taxes payable by all businesses 574.7 569.9 572.8 579.8 549.8 570.4 572.8 591.3 637.9 1

 2 FL103178005 Nonfinancial corporate business 277.2 266.7 251.2 276.9 245.3 255.9 251.2 273.7 297.1 2

 3 FL113178003 Nonfinancial noncorporate business 137.2 143.6 149.0 144.9 146.1 147.6 149.0 155.2 172.9 3

 4 FL763178003 U.S.-chartered depository institutions 104.3 109.7 124.2 105.5 108.9 119.1 124.2 107.5 109.9 4

 5 FL513178005 Property-casualty insurance companies 14.1 13.3 13.0 14.4 12.9 12.0 13.0 15.7 16.0 5

 6 FL543178075 Life insurance companies 10.9 8.0 8.4 8.7 7.7 7.5 8.4 10.9 12.1 6

 7 FL613178005 Finance companies 17.5 14.6 14.3 14.8 14.3 13.9 14.3 14.3 13.7 7

 8 FL663178005 Brokers and dealers 13.5 14.1 12.7 14.7 14.6 14.3 12.7 14.0 16.1 8

 9 FL893078005 Total business taxes receivable 354.0 399.5 541.6 441.7 397.4 545.3 541.6 577.0 614.7 9

 10 FL313078000 Federal government 203.0 239.8 376.2 280.6 235.1 381.5 376.2 410.2 446.3 10

 11 FL213078005 State and local governments 151.1 159.7 165.4 161.1 162.2 163.8 165.4 166.8 168.5 11

 12 FL903078005 Discrepancy 220.6 170.4 31.2 138.1 152.4 25.1 31.2 14.3 23.1 12

L.229 Proprietors’ Equity in Noncorporate Business

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

 1 LM152090205 Total household equity 11089.8 11556.5 12338.4 11755.1 12047.9 12261.8 12338.4 12410.8 12424.3 1

 2 LM112090205 Nonfinancial noncorporate business 11021.1 11478.3 12254.9 11676.7 11969.5 12181.2 12254.9 12326.0 12335.8 2

 3 LM662090003 Brokers and dealers 68.7 78.2 83.5 78.4 78.4 80.6 83.5 84.8 88.5 3
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L.230 Direct Investment

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 U.S. direct investment abroad:

 1 LM263192005 Liab.: Rest of the world (1) 7865.0 6375.7 7650.0 6987.2 7251.9 7136.3 7650.0 5845.8 6768.0 1

 2 LM263192101 Equity 7683.8 6149.4 7485.0 6836.3 7063.8 6996.0 7485.0 5700.5 6617.7 2

 3 LM263192305 Intercompany debt (2) 181.2 226.3 164.9 150.9 188.1 140.3 164.9 145.4 195.0 3

 4 LM263192313 U.S. parents’ claims 820.1 861.7 876.0 822.3 897.3 874.0 876.0 840.5 803.9 4

 5 LM263092313 Less: U.S. parents’ liabilities 638.9 635.4 711.1 671.3 709.2 733.7 711.1 695.1 607.5 5

 6 LM103092005 Asset: Nonfinancial corporate business 6722.7 5438.6 6514.5 5943.1 6178.3 6070.9 6514.5 4968.1 5770.6 6

 7 LM763092000 U.S.-chartered depository institutions 299.3 250.3 297.5 274.9 280.8 276.1 297.5 228.9 260.8 7

 8 LM513092003 Property-casualty insurance companies 163.6 140.5 162.6 154.0 155.1 153.5 162.6 125.2 142.6 8

 9 LM543092073 Life insurance companies 87.9 65.3 87.4 79.2 77.5 78.9 87.4 67.2 76.6 9

 10 LM613092003 Finance companies 303.8 259.4 302.0 286.1 300.3 300.2 302.0 232.4 264.8 10

 11 LM663092003 Brokers and dealers 287.7 221.6 286.0 250.0 259.8 256.7 286.0 224.1 252.7 11

 Foreign direct investment in U.S.:

 12 LM103192005 Liab.: Nonfinancial corporate business 6539.9 6215.8 8145.2 7022.1 7307.6 7402.7 8145.2 6609.7 8080.0 12

 13 LM115114005 Nonfinancial noncorporate business 31.2 58.5 32.1 58.6 55.6 57.4 32.1 26.1 30.9 13

 14 LM753192003 Foreign banking offices in U.S. 371.2 317.5 382.3 349.5 355.9 355.3 382.3 310.8 367.9 14

 15 LM513192003 Property-casualty insurance companies 187.9 171.9 193.5 195.2 203.8 202.4 193.5 157.3 186.2 15

 16 LM543192073 Life insurance companies 177.4 152.3 182.8 170.5 179.5 178.9 182.8 148.6 175.9 16

 17 LM613192003 Finance companies 99.3 100.6 102.2 112.8 120.5 126.2 102.2 83.1 98.4 17

 18 LM663192005 Brokers and dealers 160.0 136.9 179.3 167.7 176.2 187.0 179.3 114.5 131.2 18

 19 LM733192003 Holding companies 189.8 180.0 181.0 184.7 188.9 179.5 181.0 183.5 223.6 19

 20 FL503192003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 LM263092001 Asset: Rest of the world (1) 7756.7 7333.5 9398.4 8261.2 8588.0 8689.4 9398.4 7633.6 9294.2 21

 22 LM263092101 Equity 7075.8 6725.5 8764.2 7645.7 7961.9 8061.9 8764.2 7024.7 8695.3 22

 23 LM263092303 Intercompany debt 680.9 608.0 634.2 615.5 626.1 627.5 634.2 608.9 590.7 23

 24 LM263092323 U.S. affiliates’ liabilities 1100.1 1040.8 1071.8 1051.8 1059.8 1062.6 1071.8 1050.0 1046.2 24

 25 LM263192323 Less: U.S. affiliates’ claims 419.1 432.8 437.6 436.3 433.7 435.2 437.6 441.1 455.5 25

 Memo:

 Direct investment, asset/liability presentation:

 26 LM263192035 Direct investment assets 8923.1 7443.9 8798.7 8094.9 8394.8 8305.2 8798.7 6982.0 7877.1 26

 27 LM263192101 Equity (line 2) 7683.8 6149.4 7485.0 6836.3 7063.8 6996.0 7485.0 5700.5 6617.7 27

 28 LM263192345 Intercompany debt 1239.3 1294.5 1313.6 1258.6 1331.0 1309.1 1313.6 1281.6 1259.4 28

 29 LM263192313 U.S. parents’ claims (line 4) 820.1 861.7 876.0 822.3 897.3 874.0 876.0 840.5 803.9 29

 30 LM263192323 U.S. affiliates’ claims (line 25) 419.1 432.8 437.6 436.3 433.7 435.2 437.6 441.1 455.5 30

 31 LM263092035 Direct investment liabilities 8814.8 8401.7 10547.1 9368.8 9730.9 9858.2 10547.1 8769.8 10349.0 31

 32 LM263092101 Equity (line 22) 7075.8 6725.5 8764.2 7645.7 7961.9 8061.9 8764.2 7024.7 8695.3 32

 33 LM263092345 Intercompany debt 1739.0 1676.2 1782.9 1723.1 1769.0 1796.3 1782.9 1745.1 1653.7 33

 34 LM263092313 U.S. parents’ liabilities (line 5) 638.9 635.4 711.1 671.3 709.2 733.7 711.1 695.1 607.5 34

 35 LM263092323 U.S. affiliates’ liabilities (line 24) 1100.1 1040.8 1071.8 1051.8 1059.8 1062.6 1071.8 1050.0 1046.2 35

 Alternative valuations of direct investment assets:

 U.S. direct investment abroad:

 36 LM263192065 Current cost 6786.7 6470.1 6640.9 6457.8 6560.2 6566.0 6640.9 6595.0 6701.6 36

 37 LM263192161 Equity 6605.5 6243.9 6475.9 6306.9 6372.0 6425.7 6475.9 6449.6 6485.8 37

 38 LM263192305 Intercompany debt 181.2 226.3 164.9 150.9 188.1 140.3 164.9 145.4 195.0 38

 39 FL263192055 Historical cost 6097.7 5801.0 5959.6 5789.7 5889.5 5890.6 5959.6 5912.6 5933.2 39

 40 FL263192151 Equity 5916.5 5574.8 5794.7 5638.7 5701.4 5750.3 5794.7 5767.2 5738.1 40

 41 FL263192305 Intercompany debt 181.2 226.3 164.9 150.9 188.1 140.3 164.9 145.4 195.0 41

 Foreign direct investment in U.S.:

 42 LM263092061 Current cost 4410.8 4820.9 5189.0 4934.2 5036.3 5105.2 5189.0 5184.3 5332.5 42

 43 LM263092161 Equity 3729.8 4213.0 4554.8 4318.7 4410.2 4477.7 4554.8 4575.5 4744.8 43

 44 LM263092303 Intercompany debt 680.9 608.0 634.2 615.5 626.1 627.5 634.2 608.9 590.7 44

 45 FL263092055 Historical cost 3786.8 4127.2 4458.4 4228.0 4320.5 4381.5 4458.4 4451.5 4550.5 45

 46 FL263092151 Equity 3105.9 3519.2 3824.1 3612.6 3694.4 3754.0 3824.1 3842.6 3959.8 46

 47 FL263092303 Intercompany debt 680.9 608.0 634.2 615.5 626.1 627.5 634.2 608.9 590.7 47

(1) Direct investment is valued on a market value basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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L.231 Total Miscellaneous Financial Claims

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893190005 Total liabilities 22981.2 23887.5 25380.4 24844.2 25087.4 25221.2 25380.4 26558.0 26293.1 1

 2 FL543077073 Household sector 33.1 35.0 36.5 36.4 35.7 36.6 36.5 39.0 38.1 2

 3 FL103190005 Nonfinancial corporate business 7133.3 7495.1 8652.3 8140.8 8254.9 8379.8 8652.3 8645.7 8689.8 3

 4 FL113193003 Nonfinancial noncorporate business 1665.9 1754.7 1830.5 1773.2 1789.6 1811.3 1830.5 1859.1 1883.4 4

 5 FL313190005 Federal government 1964.0 1922.9 1901.0 1977.7 2073.8 1960.5 1901.0 1929.6 1956.9 5

 6 FL223073045 State and local governments 4017.1 4491.6 4246.3 4354.0 4245.9 4334.1 4246.3 4796.8 4335.3 6

 7 FL713190005 Monetary authority 38.5 40.6 40.4 40.0 40.9 40.3 40.4 50.8 43.8 7

 8 FL763190005 U.S.-chartered depository institutions 3108.6 3077.7 3270.0 3177.5 3270.2 3270.1 3270.0 3288.7 3344.4 8

 9 FL753190005 Foreign banking offices in U.S. 190.8 217.8 205.6 248.9 239.7 230.3 205.6 251.9 232.0 9

 10 FL743193005 Banks in U.S.-affiliated areas 4.1 3.2 3.0 3.2 3.2 3.2 3.0 3.1 3.5 10

 11 FL473193005 Credit unions 18.3 18.3 19.4 19.6 20.7 19.5 19.4 19.9 27.0 11

 12 FL513190005 Property-casualty insurance companies 1483.0 1523.9 1604.8 1540.0 1567.6 1586.2 1604.8 1608.3 1655.8 12

 13 FL543190005 Life insurance companies 1607.7 1589.3 1721.0 1634.2 1669.6 1709.3 1721.0 1763.6 1828.0 13

 14 FL403190005 Government-sponsored enterprises 110.5 111.9 114.3 112.1 113.2 117.6 114.3 128.7 118.6 14

 15 FL613190005 Finance companies 345.5 279.3 285.1 283.9 289.8 278.9 285.1 293.3 275.0 15

 16 FL643193005 REITs 101.5 117.6 148.0 149.6 138.1 145.2 148.0 145.9 149.0 16

 17 FL663190005 Brokers and dealers 355.5 339.2 362.1 358.6 356.6 347.7 362.1 276.5 321.4 17

 18 FL733193005 Holding companies -22.7 -13.7 14.0 -14.2 -10.2 0.7 14.0 -0.3 6.3 18

 19 FL503190005 Other financial business 575.1 612.9 649.8 716.3 691.0 647.6 649.8 836.3 874.2 19

 20 FL263190005 Rest of the world 251.4 270.2 276.1 292.2 297.2 302.2 276.1 621.0 510.8 20

 21 FL893090005 Total assets 23786.1 27006.0 27169.1 27192.9 27113.1 27404.8 27169.1 30793.9 29004.1 21

 22 FL153090005 Household sector 1193.0 1245.1 1286.9 1245.7 1253.8 1257.3 1286.9 1290.1 1303.0 22

 23 FL103090005 Nonfinancial corporate business 3717.2 5827.0 5551.4 5752.8 5493.7 5642.1 5551.4 7248.6 6050.9 23

 24 FL113090005 Nonfinancial noncorporate business 3122.5 3359.4 3572.3 3411.3 3457.6 3518.2 3572.3 3614.6 3665.0 24

 25 FL313090005 Federal government 193.8 208.7 215.7 210.7 213.8 215.2 215.7 218.7 333.8 25

 26 FL213093003 State and local governments 70.2 75.6 93.2 89.0 94.9 101.0 93.2 79.7 90.2 26

 27 FL713090005 Monetary authority 37.7 27.3 25.4 23.5 22.8 21.6 25.4 382.4 257.5 27

 28 FL763090005 U.S.-chartered depository institutions 454.9 508.1 429.2 422.3 439.3 455.0 429.2 728.7 634.2 28

 29 FL753093005 Foreign banking offices in U.S. 96.6 76.2 79.7 93.2 94.9 85.9 79.7 105.9 87.0 29

 30 FL743093005 Banks in U.S.-affiliated areas 27.1 28.5 17.0 24.9 19.9 21.7 17.0 12.0 9.5 30

 31 FL473090005 Credit unions 79.0 86.5 92.2 93.7 92.5 94.1 92.2 106.0 125.9 31

 32 FL513090005 Property-casualty insurance companies 453.3 479.7 485.1 474.8 485.8 495.3 485.1 539.1 538.5 32

 33 FL543090005 Life insurance companies 581.3 629.8 648.6 614.4 629.8 653.3 648.6 748.6 717.8 33

 34 FL573090005 Private pension funds 1784.0 1994.2 1663.2 1826.7 1752.4 1757.3 1663.2 2002.3 1696.3 34

 35 FL343073045 Federal government retirement funds 1676.8 1622.1 1585.8 1680.6 1776.4 1661.9 1585.8 1616.1 1646.2 35

 36 FL223090005 State and local govt. retirement funds 4455.6 4925.1 5307.6 5149.9 5128.0 5253.3 5307.6 5719.0 5394.1 36

 37 FL633093005 Money market funds 6.6 8.1 10.5 8.8 9.6 10.7 10.5 83.5 13.2 37

 38 FL653093005 Mutual funds 293.1 225.7 291.8 305.7 313.9 297.3 291.8 286.4 271.4 38

 39 LM563093003 Exchange-traded funds 68.9 65.9 84.9 67.8 71.3 84.1 84.9 94.0 127.8 39

 40 FL403093005 Government-sponsored enterprises 111.0 95.3 127.3 102.9 115.5 135.3 127.3 150.2 170.0 40

 41 FL673090543 ABS issuers 69.6 74.1 79.1 77.5 76.7 77.8 79.1 83.6 86.8 41

 42 FL613090005 Finance companies 28.3 54.4 51.5 45.7 46.9 47.0 51.5 59.2 60.0 42

 43 FL643090005 REITs 180.5 205.3 193.3 205.7 190.3 186.8 193.3 198.3 191.5 43

 44 FL663090005 Brokers and dealers 693.4 728.8 671.6 715.9 726.2 729.0 671.6 834.0 778.3 44

 45 FL733090005 Holding companies 3592.0 3565.4 3675.2 3629.0 3718.3 3691.3 3675.2 3734.1 3823.5 45

 46 FL503094505 Other financial business 749.6 830.7 869.4 861.1 828.6 852.0 869.4 797.1 868.5 46

 47 FL263076005 Rest of the world 50.1 59.2 61.3 59.4 60.1 60.4 61.3 61.7 62.9 47

 48 FL903090005 Discrepancy -804.9 -3118.5 -1788.8 -2348.7 -2025.7 -2183.7 -1788.8 -4235.9 -2711.0 48
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L.232 Identified Miscellaneous Financial Claims - Part I

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 Federal government equity in IBRD, etc.:

 1 FL313092803 Liab.: Rest of the world 64.8 66.1 67.5 66.1 67.4 67.5 67.5 68.8 68.8 1

 2 FL313092803 Asset: Federal government 64.8 66.1 67.5 66.1 67.4 67.5 67.5 68.8 68.8 2

 Federal Reserve Bank stock:

 3 FL713164003 Liab.: Monetary authority 31.4 32.3 31.7 32.5 32.4 32.5 31.7 32.0 32.0 3

 4 FL713164003 Asset: U.S.-chartered depository institutions 31.4 32.3 31.7 32.5 32.4 32.5 31.7 32.0 32.0 4

 Equity in government-sponsored enterprises:

 5 FL403192405 Liab.: Government-sponsored enterprises 51.1 52.2 48.6 49.6 50.6 49.2 48.6 55.0 46.2 5

 6 FL103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 1.2 1.2 1.3 1.3 1.3 1.2 1.3 1.4 1.3 6

 7 FL113092405 Nonfinancial noncorporate (FCS) 12.3 12.5 12.8 12.5 12.6 12.8 12.8 12.6 12.8 7

 8 FL313092403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FL763092405 U.S.-chartered depository institutions (FHLB) 28.5 29.1 24.6 26.4 27.3 25.6 24.6 30.1 22.3 9

 10 FL473092403 Credit unions (FHLB) 4.1 4.0 3.9 3.8 3.9 3.8 3.9 4.3 3.9 10

 11 FL513092403 Property-casualty insurance companies (FHLB) 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 11

 12 FL543092473 Life insurance companies (FHLB) 4.2 4.7 5.2 4.7 4.7 5.0 5.2 6.0 5.4 12

 13 FL613092403 Finance companies 0.2 0.0 0.1 0.0 0.0 0.1 0.1 0.1 0.0 13

 14 FL643092473 Real estate investment trusts (FHLB) 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.3 0.1 14

 Holding company net transactions with affiliates:

 15 FL763194735 Liab.: U.S.-chartered depository institutions 2495.7 2500.5 2603.5 2517.4 2584.3 2574.1 2603.5 2618.7 2743.8 15

 16 FL513194733 Property-casualty insurance companies 4.8 6.0 6.8 6.3 6.8 6.7 6.8 6.7 1.9 16

 17 FL543194733 Life insurance companies 15.8 4.8 5.9 5.2 5.7 5.9 5.9 0.0 0.0 17

 18 FL613194733 Finance companies 28.4 15.0 10.2 13.0 12.4 11.9 10.2 9.3 9.1 18

 19 FL663194735 Brokers and dealers 975.9 952.6 987.3 976.8 996.3 989.2 987.3 1053.2 1002.1 19

 20 FL263194735 Rest of the world -6.6 18.3 17.1 42.6 45.5 48.7 17.1 5.6 22.8 20

 21 FL733094705 Asset: Holding companies 3513.9 3497.3 3630.8 3561.4 3651.1 3636.4 3630.8 3693.5 3779.8 21

 NFC investment in finance company affiliates:

 22 FL103094105 Liab.: Finance companies 110.7 113.2 112.5 114.7 112.7 112.1 112.5 111.3 108.4 22

 23 FL103094105 Asset: Nonfinancial corporate business 110.7 113.2 112.5 114.7 112.7 112.1 112.5 111.3 108.4 23

 Other financial businesses’ investment in affiliates:

 24 FL753194503 Liab.: Foreign banking offices in U.S. 79.7 123.1 119.5 138.5 122.4 118.7 119.5 122.4 111.5 24

 25 FL663194505 Brokers and dealers 669.9 707.6 749.8 722.6 706.2 733.3 749.8 674.7 757.0 25

 26 FL503094505 Asset: Other financial business 749.6 830.7 869.4 861.1 828.6 852.0 869.4 797.1 868.5 26

 Equity investment under Public-Private Inv. Program:

 27 LM503194305 Liab.: Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 LM153094305 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 LM313094303 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 Equity investment in Federal Reserve facilities:

 30 FL313094213 Liab.: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 30

 31 FL503194205 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112.5 31

 32 FL313094205 Asset: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 114.0 32

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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136 Z.1, September 21, 2020

L.233 Identified Miscellaneous Financial Claims - Part II

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 Nonofficial foreign currencies:

 1 FL263191103 Liab.: Rest of the world 14.7 6.8 6.4 4.0 2.6 3.6 6.4 360.3 229.5 1

 2 FL313091105 Asset: Federal government 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2

 3 FL713091103 Monetary authority (1) 12.1 4.2 3.7 1.4 0.0 1.0 3.7 357.7 226.9 3

 Postal Savings System deposits:

 4 FL313131003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL313131003 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 FL403197033 Liab.: Government-sponsored enterprises 7.8 7.6 10.4 8.3 8.9 10.8 10.4 15.1 15.8 6

 7 FL403197033 Asset: U.S.-chartered depository institutions 7.8 7.6 10.4 8.3 8.9 10.8 10.4 15.1 15.8 7

 Funding agreements backing securities:

 8 FL673090543 Liab.: Life insurance companies (2) 69.6 74.1 79.1 77.5 76.7 77.8 79.1 83.6 86.8 8

 9 FL673090543 Asset: ABS issuers 69.6 74.1 79.1 77.5 76.7 77.8 79.1 83.6 86.8 9

 Deferred and unpaid life insurance premiums:

 10 FL543077073 Liab.: Household sector 33.1 35.0 36.5 36.4 35.7 36.6 36.5 39.0 38.1 10

 11 FL543077073 Asset: Life insurance companies 33.1 35.0 36.5 36.4 35.7 36.6 36.5 39.0 38.1 11

 Life insurance company reserves:

 12 FL543195005 Liab.: Life insurance companies 382.4 408.7 426.6 413.7 416.7 419.6 426.6 427.5 432.3 12

 13 FL263195105 Rest of the world 19.3 17.8 18.6 18.0 18.1 18.3 18.6 18.6 18.7 13

 14 FL153095105 Asset: Household sector 331.8 352.2 367.6 356.8 359.4 361.7 367.6 368.5 372.9 14

 15 FL543095105 Life insurance companies 69.8 74.3 77.6 74.9 75.5 76.2 77.6 77.6 78.1 15

 Policy payables:

 16 FL513176005 Liab.: Property-casualty insurance companies 1250.2 1294.2 1338.2 1297.9 1313.6 1319.0 1338.2 1347.7 1373.3 16

 17 FL263176005 Rest of the world 159.3 161.1 166.6 161.5 163.5 164.2 166.6 167.7 170.9 17

 18 FL153076005 Asset: Household sector 574.0 591.9 603.9 591.7 596.9 596.8 603.9 608.0 619.4 18

 19 FL103076005 Nonfinancial corporate business 365.6 377.0 392.0 378.6 383.7 385.9 392.0 394.9 402.5 19

 20 FL113076005 Nonfinancial noncorporate business 120.4 119.0 129.0 120.8 123.7 126.1 129.0 130.1 132.6 20

 21 FL513076005 Property-casualty insurance companies 299.4 308.1 318.6 309.0 312.7 314.0 318.6 320.8 326.9 21

 22 FL263076005 Rest of the world 50.1 59.2 61.3 59.4 60.1 60.4 61.3 61.7 62.9 22

 Unallocated insurance company contracts:

 23 FL593095005 Liab.: Life insurance companies 805.3 789.3 843.5 819.3 829.2 831.0 843.5 790.0 832.0 23

 24 FL573095005 Asset: Private pension funds 565.0 555.9 589.7 574.1 579.9 582.0 589.7 558.1 586.9 24

 25 FL223095505 State and local government retirement funds 240.2 233.4 253.7 245.2 249.3 249.0 253.7 232.0 245.1 25

 Pension fund contributions payable:

 26 FL573074005 Liab.: Nonfinancial corporate business 119.3 84.7 83.8 83.2 88.7 86.1 83.8 91.2 93.2 26

 27 FL573074005 Asset: Private pension funds 119.3 84.7 83.8 83.2 88.7 86.1 83.8 91.2 93.2 27

 Securities borrowed (net):

 28 FL663097005 Liab.: Other financial business 702.7 683.8 685.5 699.0 707.7 716.6 685.5 744.0 747.2 28

 29 FL663097005 Asset: Brokers and dealers 702.7 683.8 685.5 699.0 707.7 716.6 685.5 744.0 747.2 29

 Retiree health care funds:

 30 FL313195105 Liab.: Federal government (3) 287.1 301.0 315.4 297.3 297.6 298.8 315.4 313.6 310.7 30

 31 FL313195105 Asset: Household sector 287.1 301.0 315.4 297.3 297.6 298.8 315.4 313.6 310.7 31

 Claims of pension fund on sponsor:

 32 FL573073005 Liab.: Nonfinancial corporate business 326.7 590.0 175.7 394.8 297.8 288.2 175.7 514.5 168.3 32

 33 FL343073045 Federal government 1676.8 1622.1 1585.8 1680.6 1776.4 1661.9 1585.8 1616.1 1646.2 33

 34 FL223073045 State and local governments 4017.1 4491.6 4246.3 4354.0 4245.9 4334.1 4246.3 4796.8 4335.3 34

 35 FL573073005 Asset: Private pension funds 326.7 590.0 175.7 394.8 297.8 288.2 175.7 514.5 168.3 35

 36 FL343073045 Federal government retirement funds 1676.8 1622.1 1585.8 1680.6 1776.4 1661.9 1585.8 1616.1 1646.2 36

 37 FL223073045 State and local govt. retirement funds 4017.1 4491.6 4246.3 4354.0 4245.9 4334.1 4246.3 4796.8 4335.3 37

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

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables L.133 and L.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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Z.1, September 21, 2020 137

L.234 Unidentified Miscellaneous Financial Claims

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL893193005 Total liabilities 8588.5 8727.9 10601.6 9813.1 10065.4 10204.9 10601.6 10474.6 10776.9 1

 2 FL103193005 Nonfinancial corporate business 6687.4 6820.4 8392.8 7662.8 7868.4 8005.5 8392.8 8040.0 8428.3 2

 3 FL113193003 Nonfinancial noncorporate business 1665.9 1754.7 1830.5 1773.2 1789.6 1811.3 1830.5 1859.1 1883.4 3

 4 FL313193013 Federal government 0.1 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 0.0 4

 5 FL713193005 Monetary authority 7.1 8.2 8.7 7.5 8.5 7.8 8.7 18.8 10.2 5

 6 FL763193005 U.S.-chartered depository institutions 612.9 577.2 666.5 660.1 685.9 696.0 666.5 670.0 600.6 6

 7 FL753193005 Foreign banking offices in U.S. 111.1 94.8 86.1 110.4 117.3 111.5 86.1 129.5 120.5 7

 8 FL743193005 Banks in U.S.-affiliated areas 4.1 3.2 3.0 3.2 3.2 3.2 3.0 3.1 3.5 8

 9 FL473193005 Credit unions 18.3 18.3 19.4 19.6 20.7 19.5 19.4 19.9 27.0 9

 10 FL513193005 Property-casualty insurance companies 228.0 223.7 259.8 235.8 247.1 260.5 259.8 253.9 280.5 10

 11 FL543193005 Life insurance companies 334.7 312.4 365.9 318.5 341.3 375.0 365.9 462.5 476.8 11

 12 FL403193005 Government-sponsored enterprises 51.5 52.1 55.3 54.2 53.7 57.6 55.3 58.6 56.7 12

 13 FL613193005 Finance companies 206.5 151.1 162.4 156.2 164.8 154.9 162.4 172.7 157.5 13

 14 FL643193005 REITs 101.5 117.6 148.0 149.6 138.1 145.2 148.0 145.9 149.0 14

 15 FL663193005 Brokers and dealers -1290.3 -1321.1 -1375.0 -1340.8 -1345.9 -1374.7 -1375.0 -1451.4 -1437.8 15

 16 FL733193005 Holding companies -22.7 -13.7 14.0 -14.2 -10.2 0.7 14.0 -0.3 6.3 16

 17 FL503193005 Other financial business -127.5 -70.9 -35.6 17.3 -16.8 -69.0 -35.6 92.3 14.5 17

 18 FL893093005 Total assets 9393.4 11846.4 12390.3 12161.8 12091.0 12388.5 12390.3 14710.5 13487.9 18

 19 FL103093005 Nonfinancial corporate business 3239.7 5335.6 5045.6 5258.2 4996.0 5142.8 5045.6 6741.1 5538.8 19

 20 FL113093005 Nonfinancial noncorporate business 2989.8 3227.9 3430.5 3278.0 3321.3 3379.4 3430.5 3471.9 3519.6 20

 21 FL313093003 Federal government 126.4 140.0 145.7 142.0 143.7 145.1 145.7 147.3 148.4 21

 22 FL213093003 State and local governments 70.2 75.6 93.2 89.0 94.9 101.0 93.2 79.7 90.2 22

 23 FL713093005 Monetary authority 25.7 23.1 21.7 22.1 22.8 20.6 21.7 24.7 30.6 23

 24 FL763093005 U.S.-chartered depository institutions 387.2 439.1 362.5 355.0 370.7 386.1 362.5 651.6 564.1 24

 25 FL753093005 Foreign banking offices in U.S. 96.6 76.2 79.7 93.2 94.9 85.9 79.7 105.9 87.0 25

 26 FL743093005 Banks in U.S.-affiliated areas 27.1 28.5 17.0 24.9 19.9 21.7 17.0 12.0 9.5 26

 27 FL473093005 Credit unions 75.0 82.5 88.2 89.9 88.6 90.2 88.2 101.7 122.0 27

 28 FL513093005 Property-casualty insurance companies 153.8 171.3 166.3 165.6 172.9 181.1 166.3 218.0 211.3 28

 29 FL543093005 Life insurance companies 474.2 515.8 529.3 498.3 513.8 535.5 529.3 625.9 596.2 29

 30 FL573093005 Private pension funds 773.0 763.6 813.9 774.6 786.0 801.0 813.9 838.5 847.8 30

 31 FL223093005 State and local govt. retirement funds 198.3 200.0 807.6 550.6 632.8 670.1 807.6 690.2 813.7 31

 32 FL633093005 Money market funds 6.6 8.1 10.5 8.8 9.6 10.7 10.5 83.5 13.2 32

 33 FL653093005 Mutual funds 293.1 225.7 291.8 305.7 313.9 297.3 291.8 286.4 271.4 33

 34 LM563093003 Exchange-traded funds 68.9 65.9 84.9 67.8 71.3 84.1 84.9 94.0 127.8 34

 35 FL403093005 Government-sponsored enterprises 111.0 95.3 127.3 102.9 115.5 135.3 127.3 150.2 170.0 35

 36 FL613093005 Finance companies 28.1 54.3 51.5 45.7 46.8 46.9 51.5 59.1 59.9 36

 37 FL643093005 REITs 180.0 204.8 192.8 205.1 189.8 186.3 192.8 198.0 191.5 37

 38 FL663093005 Brokers and dealers -9.3 45.0 -13.9 16.9 18.5 12.4 -13.9 90.0 31.1 38

 39 FL733093005 Holding companies 78.1 68.1 44.4 67.5 67.3 54.9 44.4 40.6 43.7 39

 40 FL903090005 Discrepancy -804.9 -3118.5 -1788.8 -2348.7 -2025.7 -2183.7 -1788.8 -4235.9 -2711.0 40
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138 Z.1, September 21, 2020

B.101 Balance Sheet of Households and Nonprofit Organizations (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL152000005 Assets 120488.8 121640.9 134954.1 127686.8 129998.0 131262.0 134954.1 127798.6 135435.2 1

 2 LM152010005 Nonfinancial assets 35934.4 37849.3 39926.3 38625.6 39208.0 39624.9 39926.3 40403.5 40886.8 2

 3 LM155035005 Real estate 30039.9 31705.0 33526.7 32405.3 32913.6 33269.1 33526.7 33948.7 34406.4 3

 4 LM155035015 Households (2) 26806.6 28381.9 29928.3 28984.3 29344.4 29610.9 29928.3 30312.7 30761.2 4

 5 LM165035005 Nonprofit organizations 3233.3 3323.1 3598.4 3421.0 3569.2 3658.2 3598.4 3636.0 3645.1 5

 6 LM165015205 Equipment (nonprofits) (3) 417.5 438.6 457.0 444.9 449.5 453.0 457.0 461.6 462.8 6

 7 LM165013765 Intellectual property products (nonprofits) (3) 174.9 184.1 192.5 187.4 189.9 192.0 192.5 195.0 198.1 7

 8 LM155111005 Consumer durable goods (3) 5302.1 5521.7 5750.1 5588.0 5655.0 5710.9 5750.1 5798.2 5819.5 8

 9 FL154090005 Financial assets 84554.4 83791.6 95027.8 89061.2 90790.0 91637.1 95027.8 87395.1 94548.4 9

 10 LM153091003 Foreign deposits 39.1 42.0 41.0 41.3 39.8 39.7 41.0 50.4 50.2 10

 11 FL153020005 Checkable deposits and currency 1295.0 1200.0 1230.1 1295.7 1147.6 996.4 1230.1 1369.6 1826.9 11

 12 FL153030005 Time and savings deposits 9233.8 9631.0 10164.0 9803.3 9830.0 10003.9 10164.0 10524.2 11168.7 12

 13 FL153034005 Money market fund shares 1617.9 1795.9 2204.3 1825.2 1912.1 2072.8 2204.3 2418.2 2615.3 13

 14 LM154022005 Debt securities 4467.6 5208.9 5801.1 5318.7 5750.2 5780.8 5801.1 5621.8 5382.4 14

 15 LM153061105 Treasury securities 1132.4 1708.8 2080.8 1932.0 2056.4 2087.8 2080.8 1792.3 1814.1 15

 16 LM153061705 Agency- and GSE-backed securities 451.9 631.1 736.1 631.4 699.5 699.9 736.1 773.5 443.4 16

 17 LM153062005 Municipal securities 1892.5 1863.1 1900.3 1899.3 1906.5 1898.1 1900.3 1887.8 1905.4 17

 18 LM153063005 Corporate and foreign bonds 990.8 1005.9 1083.9 856.0 1087.8 1094.9 1083.9 1168.3 1219.5 18

 19 FL154023005 Loans 903.0 882.1 890.1 869.9 872.0 901.4 890.1 1032.3 1005.9 19

 20 FL153069005 Other loans and advances (4) 786.2 782.2 804.4 773.6 779.4 812.4 804.4 950.7 928.5 20

 21 FL153065005 Mortgages 81.6 68.7 58.0 66.0 63.3 60.6 58.0 55.1 51.7 21

 22 FL163066223 Consumer credit (student loans) (5) 35.2 31.3 27.7 30.3 29.3 28.4 27.7 26.5 25.7 22

 23 LM153064105 Corporate equities 18278.2 16559.2 21287.4 19327.4 19634.9 19789.2 21287.4 16000.7 19518.7 23

 24 LM153064205 Mutual fund shares 8654.8 8005.8 10038.6 9011.4 9340.4 9380.8 10038.6 8197.4 9519.1 24

 25 FL163070005 Trade receivables (5) 255.4 262.1 269.7 264.0 265.9 267.8 269.7 271.7 278.4 25

 26 FL153040005 Life insurance reserves 1626.6 1659.1 1731.3 1689.0 1702.5 1718.8 1731.3 1709.2 1736.1 26

 27 FL153050005 Pension entitlements (6) 25900.2 25743.9 27745.0 26614.4 26992.9 27166.5 27745.0 26498.6 27719.4 27

 28 LM152090205 Equity in noncorporate business (7) 11089.8 11556.5 12338.4 11755.1 12047.9 12261.8 12338.4 12410.8 12424.3 28

 29 FL153090005 Miscellaneous assets 1193.0 1245.1 1286.9 1245.7 1253.8 1257.3 1286.9 1290.1 1303.0 29

 30 FL154190005 Liabilities 15389.5 15876.7 16377.4 15874.8 16041.8 16213.4 16377.4 16450.4 16479.8 30

 31 FL163162003 Debt securities (municipal securities) (5) 218.7 216.4 213.2 215.4 214.7 214.3 213.2 210.3 208.0 31

 32 FL154123005 Loans 14781.9 15260.3 15754.6 15255.9 15422.3 15591.3 15754.6 15825.9 15856.6 32

 33 FL153165105 One-to-four-family residential mortgages (8) 9914.4 10185.1 10454.9 10212.1 10290.6 10386.0 10454.9 10511.5 10592.4 33

 34 FL153166000 Consumer credit 3813.0 3998.1 4180.6 3988.5 4040.9 4117.3 4180.6 4139.9 4079.1 34

 35 FL153168005 Depository institution loans n.e.c. 299.1 337.0 344.8 322.6 337.0 332.2 344.8 383.7 378.9 35

 36 FL153169005 Other loans and advances 495.9 471.0 495.9 461.3 480.0 479.7 495.9 510.1 523.4 36

 37 FL163165505 Commercial mortgages (5) 259.4 269.1 278.4 271.4 273.7 276.1 278.4 280.7 282.9 37

 38 FL163170005 Trade payables (5) 355.9 365.0 373.1 367.0 369.1 371.1 373.1 375.1 377.2 38

 39 FL543077073 Deferred and unpaid life insurance premiums 33.1 35.0 36.5 36.4 35.7 36.6 36.5 39.0 38.1 39

 40 FL152090005 Net worth 105099.3 105764.2 118576.7 111812.1 113956.2 115048.6 118576.7 111348.2 118955.3 40

 Memo:

 41 FL893131573 Assets held in IRAs (9) 9439.0 9250.0 11025.0 10050.0 10350.0 10475.0 11025.0 9511.0 ND 41

 42 FL154023205 Assets held in 529 college plans (9) 319.0 311.3 371.4 339.4 352.5 350.8 371.4 329.7 373.5 42

 43 LM154023223 College savings plans 294.4 288.8 346.3 315.8 328.0 326.3 346.3 306.0 348.2 43

 44 FL154023213 Prepaid tuition plans 24.6 22.5 25.1 23.6 24.5 24.6 25.1 23.8 25.3 44

 Replacement-cost value of structures:

 45 LM155012605 Residential 17202.3 18195.5 18855.7 18348.6 18485.3 18683.7 18855.7 19033.6 19145.0 45

 46 LM155012665 Households 16921.6 17898.9 18551.3 18050.3 18185.4 18381.4 18551.3 18726.6 18836.5 46

 47 LM165012665 Nonprofit organizations 280.8 296.6 304.3 298.3 299.8 302.3 304.3 306.9 308.5 47

 48 LM165013665 Nonresidential (nonprofits) 1801.7 1916.0 1997.9 1940.8 1968.2 1984.8 1997.9 2010.0 2009.2 48

 49 FA156012005 Disposable personal income (DPI) (SAAR) 14901.9 15766.5 16348.6 16196.0 16258.4 16400.5 16539.6 16698.6 18306.2 49

 50 FL152090006 Net worth/DPI (percent) (line 40/line 49) 705.28 670.81 725.30 690.37 700.91 701.50 716.93 666.81 649.81 50

 51 FL155035065 Owners’ equity in real estate (line 4 less line 33) 16892.3 18196.8 19473.4 18772.3 19053.8 19224.8 19473.4 19801.2 20168.9 51

 52 FL155035066 Owners’ equity/real estate (percent) (line 51/line 4) 63.02 64.11 65.07 64.77 64.93 64.92 65.07 65.32 65.57 52

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary balance sheet tables B.101.h and B.101.n show estimates of annual year-end outstandings of

 households and nonprofit organizations, respectively. Detail on the sector’s indirect holdings of debt securities and equity is shown on table B.101.e.

(2) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land. At market value.

(3) At replacement (current) cost.

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

(5) Student loans and trade receivables are financial assets of nonprofit organizations; municipal securities, commercial mortgages, and trade payables are liabilities.

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

(7) Net worth of nonfinancial noncorporate business (table B.104, line 35) and owners’ equity in unincorporated security brokers and dealers.

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

(9) Included in assets shown on the household balance sheet.
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B.103 Balance Sheet of Nonfinancial Corporate Business

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL102000005 Assets 40516.6 42478.7 45692.7 43656.2 44674.3 45446.3 45692.7 46154.8 46508.8 1

 2 LM102010005 Nonfinancial assets 22516.0 23350.6 24842.0 23895.2 24607.7 25051.7 24842.0 25020.1 25045.9 2

 3 LM105035005 Real estate (market value) 12772.3 13067.8 14161.8 13462.0 14089.8 14461.6 14161.8 14314.6 14372.8 3

 4 LM105015205 Equipment (replacement cost) 4866.3 5108.3 5288.7 5172.5 5216.0 5248.4 5288.7 5325.7 5330.8 4

 5 LM105013765 Intellectual property products (replacement cost) 2440.2 2604.2 2771.0 2662.6 2711.4 2749.5 2771.0 2816.0 2870.6 5

 6 LM105020015 Inventories (replacement cost) 2437.2 2570.3 2620.4 2598.2 2590.5 2592.1 2620.4 2563.8 2471.8 6

 7 FL104090005 Financial assets 18000.6 19128.1 20850.8 19760.9 20066.6 20394.6 20850.8 21134.7 21462.9 7

 8 FL103091003 Foreign deposits 216.6 106.3 116.6 107.7 119.8 102.2 116.6 122.3 153.6 8

 9 FL103020000 Checkable deposits and currency 951.7 1189.7 1272.3 1067.8 1182.3 1398.8 1272.3 1493.0 1757.2 9

 10 FL103030003 Time and savings deposits 181.3 187.2 196.1 201.2 203.8 184.8 196.1 271.4 291.7 10

 11 FL103034000 Money market fund shares 499.5 466.1 558.3 472.6 492.2 528.7 558.3 916.4 962.2 11

 12 FL102051003 Security repurchase agreements 39.6 14.6 12.2 12.1 10.3 10.2 12.2 24.4 29.3 12

 13 LM104022005 Debt securities 236.0 253.2 328.7 254.1 278.8 322.0 328.7 365.8 380.1 13

 14 FL103069100 Commercial paper 123.7 162.1 245.2 159.2 192.9 241.6 245.2 254.7 249.5 14

 15 LM103061103 Treasury securities 71.3 54.4 48.1 57.0 50.1 45.9 48.1 69.0 88.4 15

 16 LM103061703 Agency- and GSE-backed securities 23.8 18.1 16.0 19.0 16.7 15.3 16.0 23.0 22.8 16

 17 LM103062003 Municipal securities 17.2 18.5 19.3 18.9 19.1 19.2 19.3 19.1 19.4 17

 18 FL104023005 Loans 71.6 73.8 74.0 72.9 73.4 73.9 74.0 76.7 77.2 18

 19 FL103065003 Mortgages 32.2 34.2 34.3 34.5 34.7 35.0 34.3 38.3 38.5 19

 20 FL103066005 Consumer credit 39.4 39.6 39.6 38.5 38.7 38.9 39.6 38.5 38.7 20

 21 LM103064103 Corporate equities 1948.3 1791.2 2308.7 2025.3 2102.0 2127.1 2308.7 1847.0 2215.5 21

 22 LM103064203 Mutual fund shares 303.0 270.9 327.3 298.4 308.2 309.8 327.3 276.2 319.4 22

 23 FL103070005 Trade receivables 3113.2 3509.6 3590.8 3553.0 3623.8 3624.2 3590.8 3524.7 3455.2 23

 24 LM103092005 U.S. direct investment abroad (1) 6722.7 5438.6 6514.5 5943.1 6178.3 6070.9 6514.5 4968.1 5770.6 24

 25 FL103090005 Miscellaneous assets 3717.2 5827.0 5551.4 5752.8 5493.7 5642.1 5551.4 7248.6 6050.9 25

 26 FL104190005 Liabilities 25316.2 26263.3 29875.1 27928.9 28457.8 28837.1 29875.1 28918.3 30696.8 26

 27 FL104122005 Debt securities 6156.1 6294.9 6554.6 6432.7 6510.5 6585.1 6554.6 6777.0 7125.5 27

 28 FL103169100 Commercial paper 206.7 196.5 194.5 241.1 236.6 216.3 194.5 243.1 166.1 28

 29 FL103162000 Municipal securities (2) 566.8 562.7 576.9 565.3 568.9 569.3 576.9 579.5 580.5 29

 30 FL103163003 Corporate bonds (1) 5382.6 5535.8 5783.2 5626.4 5705.0 5799.5 5783.2 5954.3 6379.0 30

 31 FL104123005 Loans 2840.0 3300.4 3498.5 3377.5 3414.9 3454.7 3498.5 3923.8 3915.0 31

 32 FL103168005 Depository institution loans n.e.c. 920.5 990.4 1011.1 1001.8 1011.0 1007.0 1011.1 1337.5 1331.0 32

 33 FL103169005 Other loans and advances 1388.7 1726.9 1855.7 1776.8 1800.1 1826.8 1855.7 1945.6 1934.1 33

 34 FL103165005 Mortgages 530.9 583.1 631.7 599.0 603.8 620.8 631.7 640.7 649.9 34

 35 FL103170005 Trade payables 2369.7 2690.4 2773.3 2678.9 2724.7 2758.9 2773.3 2688.3 2589.4 35

 36 FL103178005 Taxes payable 277.2 266.7 251.2 276.9 245.3 255.9 251.2 273.7 297.1 36

 37 LM103192005 Foreign direct investment in U.S. 6539.9 6215.8 8145.2 7022.1 7307.6 7402.7 8145.2 6609.7 8080.0 37

 38 FL103190005 Miscellaneous liabilities 7133.3 7495.1 8652.3 8140.8 8254.9 8379.8 8652.3 8645.7 8689.8 38

 39 FL102090005 Net worth (market value) 15200.4 16215.5 15817.6 15727.3 16216.5 16609.2 15817.6 17236.5 15812.0 39

 Memo:

 Replacement-cost value of structures:

 40 LM105012665 Residential 229.5 242.8 248.7 244.1 245.2 247.1 248.7 251.0 252.5 40

 41 LM105013665 Nonresidential 9210.2 9620.1 9945.9 9723.0 9839.0 9901.3 9945.9 10011.5 10008.9 41

 42 LM103164103 Market value of equities outstanding 29075.4 26826.8 34066.5 30769.7 31561.6 31659.4 34066.5 26883.4 33506.7 42

 43 FL104104006 Debt/adjusted net worth (percent) (3) 42.50 43.78 42.94 44.14 43.17 42.76 42.94 45.89 47.24 43

 44 FL104104016 Debt/equities (percent) (3) 30.94 35.77 29.51 31.88 31.45 31.71 29.51 39.80 32.95 44

 45 FL103164106 Equities/adjusted net worth (percent) (3) 137.37 122.41 145.50 138.44 137.28 134.85 145.50 115.29 143.37 45

 With nonfinancial assets stated at historical cost:

 46 FL102000115 Assets (sum of lines 7 and 47) 33044.6 34893.2 37295.0 35757.5 36218.8 36755.4 37295.0 37700.9 38115.3 46

 47 FL102010115 Nonfinancial assets 15044.0 15765.1 16444.2 15996.5 16152.2 16360.8 16444.2 16566.2 16652.4 47

 48 FL105035045 Real estate 5979.1 6247.3 6500.9 6304.4 6366.7 6433.7 6500.9 6558.6 6611.8 48

 49 FL105013213 Equipment 4699.9 4894.1 5079.1 4946.1 4993.3 5037.4 5079.1 5110.6 5119.4 49

 50 FL105013715 Intellectual property products 2275.2 2415.2 2571.0 2453.8 2492.9 2532.4 2571.0 2609.3 2643.9 50

 51 FL105020000 Inventories 2089.8 2208.4 2293.2 2292.2 2299.3 2357.3 2293.2 2287.7 2277.3 51

 52 FL102090115 Net worth (historical cost) (line 46 less line 26) 7728.4 8629.9 7419.9 7828.6 7761.0 7918.3 7419.9 8782.6 7418.5 52

 Memo:

 Historical-cost value of structures:

 53 FL105012613 Residential 104.5 110.0 115.6 111.3 112.7 114.1 115.6 117.1 118.4 53

 54 FL105013613 Nonresidential 5286.9 5519.0 5759.8 5578.3 5638.6 5699.9 5759.8 5818.5 5866.1 54

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

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

(3) Adjusted net worth is calculated as net worth at market value (line 39) less the equity portion of foreign direct investment in the United States at market value (part of line 37). Debt is calculated

 as the sum of debt securities (line 27) and loans (line 31). Equities are shown on line 42.
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B.104 Balance Sheet of Nonfinancial Noncorporate Business

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL112000005 Assets 18991.3 19977.6 21160.6 20279.5 20664.4 21001.3 21160.6 21429.8 21689.7 1

 2 LM112010005 Nonfinancial assets 13536.9 14107.7 14919.9 14319.2 14623.5 14854.7 14919.9 14986.2 15004.1 2

 3 LM115035005 Real estate (1) 12231.7 12673.0 13209.5 12873.4 13164.9 13195.9 13209.5 13182.0 13212.8 3

 4 LM115035023 Residential 6869.2 7273.0 7700.1 7350.4 7459.8 7571.2 7700.1 7730.9 7727.7 4

 5 LM115035035 Nonresidential 5321.1 5435.3 5787.0 5550.6 5745.4 5867.0 5787.0 5827.3 5850.8 5

 6 LM115015205 Equipment (2) 827.8 863.5 884.2 872.4 877.7 880.8 884.2 893.0 896.9 6

 7 LM115012265 Residential (3) 50.3 56.5 56.7 57.4 57.6 57.6 56.7 57.6 59.5 7

 8 LM115013265 Nonresidential 777.5 807.0 827.5 815.0 820.1 823.2 827.5 835.3 837.4 8

 9 LM115013765 Intellectual property products (2) 259.1 273.9 289.9 277.9 282.5 286.4 289.9 290.6 292.3 9

 10 LM115020005 Inventories (2) 259.7 262.0 258.7 267.9 258.1 249.2 258.7 244.4 236.5 10

 11 FL114090005 Financial assets 5454.3 5870.0 6240.7 5960.3 6040.9 6146.6 6240.7 6443.6 6685.6 11

 12 FL113020005 Checkable deposits and currency 306.0 326.2 349.0 331.8 336.8 343.2 349.0 405.9 465.5 12

 13 FL113030003 Time and savings deposits 1000.1 1078.4 1145.1 1094.6 1109.0 1128.1 1145.1 1220.9 1278.2 13

 14 FL113034003 Money market fund shares 99.8 107.6 114.2 109.2 110.7 112.6 114.2 121.8 125.0 14

 15 LM114022005 Debt securities 75.1 80.9 85.9 82.1 83.2 84.7 85.9 91.6 94.0 15

 16 LM113061003 Treasury securities 69.0 74.4 79.0 75.5 76.5 77.9 79.0 84.3 86.5 16

 17 LM113062003 Municipal securities 6.0 6.5 6.9 6.6 6.7 6.8 6.9 7.4 7.6 17

 18 FL114023005 Loans 48.0 51.7 54.9 52.5 53.2 54.1 54.9 58.5 60.1 18

 19 FL113065005 Mortgages 48.0 51.7 54.9 52.5 53.2 54.1 54.9 58.5 60.1 19

 20 FL113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL113070003 Trade receivables 802.9 865.8 919.3 878.8 890.4 905.7 919.3 930.2 943.7 21

 22 FL113090005 Miscellaneous assets 3122.5 3359.4 3572.3 3411.3 3457.6 3518.2 3572.3 3614.6 3665.0 22

 23 FL113076005 Insurance receivables 120.4 119.0 129.0 120.8 123.7 126.1 129.0 130.1 132.6 23

 24 FL113092405 Equity investment in GSEs (4) 12.3 12.5 12.8 12.5 12.6 12.8 12.8 12.6 12.8 24

 25 FL113093005 Other 2989.8 3227.9 3430.5 3278.0 3321.3 3379.4 3430.5 3471.9 3519.6 25

 26 FL114190005 Liabilities 7970.1 8499.4 8905.7 8602.7 8695.0 8820.1 8905.7 9103.8 9353.8 26

 27 FL114123005 Loans 5542.7 5875.1 6164.7 5943.2 6008.6 6086.4 6164.7 6317.1 6564.0 27

 28 FL113168005 Depository institution loans n.e.c. 1387.3 1491.1 1519.9 1506.4 1521.1 1514.7 1519.9 1605.0 1745.5 28

 29 FL113169005 Other loans and advances 210.0 218.4 226.3 220.0 220.9 218.8 226.3 231.9 283.2 29

 30 FL113165005 Mortgages 3945.3 4165.6 4418.5 4216.8 4266.6 4352.9 4418.5 4480.3 4535.2 30

 31 FL113170005 Trade payables 593.3 667.4 729.3 682.8 695.1 717.4 729.3 746.2 702.7 31

 32 FL113178003 Taxes payable 137.2 143.6 149.0 144.9 146.1 147.6 149.0 155.2 172.9 32

 33 LM115114005 Foreign direct investment in U.S. 31.2 58.5 32.1 58.6 55.6 57.4 32.1 26.1 30.9 33

 34 FL113193003 Miscellaneous liabilities 1665.9 1754.7 1830.5 1773.2 1789.6 1811.3 1830.5 1859.1 1883.4 34

 35 LM112090205 Net worth (5) 11021.1 11478.3 12254.9 11676.7 11969.5 12181.2 12254.9 12326.0 12335.8 35

 Memo:

 Replacement-cost value of structures:

 36 FL115012665 Residential 3678.8 3852.3 3933.7 3870.6 3884.8 3912.1 3933.7 3963.4 3980.1 36

 37 FL115013665 Nonresidential 2139.8 2256.2 2348.3 2285.1 2316.4 2334.7 2348.3 2342.1 2319.6 37

 38 FL114104006 Debt/net worth (percent) (line 27/line 35) 50.29 51.18 50.30 50.90 50.20 49.97 50.30 51.25 53.21 38

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Included in table B.101, line 28.
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R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FC152090005 Change in net worth (1) 8990.6 665.0 12812.5 6047.8 2144.1 1092.5 3528.1 -7228.5 7607.1 1

 2 FU155060005 Net investment 1377.9 1686.7 2337.7 799.8 293.5 440.2 804.2 649.9 1338.7 2

 3 FU155061005 Net physical investment 517.0 548.8 536.0 130.7 134.5 135.9 134.8 134.8 101.4 3

 4 FU155050005 Capital expenditures 2121.2 2230.6 2292.2 561.8 570.8 578.0 581.6 576.0 546.2 4

 5 FU155012005 Residential 631.4 663.5 668.4 164.9 164.7 167.7 171.1 179.3 157.5 5

 6 FU165013005 Nonprofit nonresidential 190.5 203.3 209.6 52.6 52.1 52.5 52.4 52.3 49.3 6

 7 FU155111003 Consumer durable goods 1311.4 1377.0 1427.7 347.7 357.3 361.2 361.5 348.1 344.3 7

 8 FU155420003 Nonproduced nonfinancial assets -12.0 -13.2 -13.6 -3.4 -3.4 -3.4 -3.5 -3.7 -4.9 8

 9 FU156300005 - Consumption of fixed capital 1604.2 1681.7 1756.2 431.1 436.2 442.0 446.8 441.2 444.9 9

 10 FU156320005 Residential 390.4 419.4 436.3 107.3 108.3 109.8 110.9 111.8 112.8 10

 11 FU166330005 Nonprofit nonresidential 147.4 154.6 162.8 40.0 40.4 41.0 41.4 41.7 42.1 11

 12 FU156300103 Consumer durable goods 1066.4 1107.8 1157.1 283.8 287.5 291.3 294.5 287.6 290.0 12

 13 FU155000005 Net lending (+) or net borrowing (-) 860.9 1137.9 1801.7 669.1 159.0 304.2 669.4 515.1 1237.3 13

 14 FU154090005 Net acquisition of financial assets 1419.6 1640.0 2318.2 672.4 329.8 479.2 836.8 586.0 1268.8 14

 15 FU154190005 - Net increase in liabilities 558.6 502.1 516.5 3.3 170.8 174.9 167.5 70.9 31.5 15

 16 FR158000005 Net holding gains 7567.4 -1016.2 10045.9 4932.5 1856.1 677.3 2579.9 -7639.2 6432.6 16

 17 FR152010085 Nonfinancial assets 1825.3 1400.9 1544.1 645.9 448.6 282.0 167.6 342.3 381.5 17

 18 FR155035005 Real estate 1920.4 1448.2 1587.0 641.5 451.2 297.1 197.2 353.5 413.9 18

 19 FR165015205 Equipment (2) -1.3 -0.9 -2.8 0.2 -0.8 -1.5 -0.7 0.5 -0.6 19

 20 FR165013765 Intellectual property products (2) 3.2 3.3 2.0 1.7 1.0 0.4 -1.1 0.7 1.2 20

 21 FR155111005 Consumer durable goods (2) -97.0 -49.7 -42.1 2.5 -2.8 -14.0 -27.8 -12.4 -33.0 21

 22 FR154090005 Financial assets 5742.1 -2417.0 8501.8 4286.7 1407.6 395.3 2412.3 -7981.5 6051.2 22

 23 FR154022005 Debt securities 68.2 -120.6 279.5 116.9 117.4 82.9 -37.7 115.3 116.6 23

 24 FR153064105 Corporate equities 2769.5 -1603.5 4398.6 2387.4 509.9 77.6 1423.7 -5167.1 3525.3 24

 25 FR153064205 Mutual fund shares 1039.2 -670.9 1504.0 760.1 254.4 7.0 482.5 -1597.4 1233.6 25

 26 FR153040005 Life insurance reserves 39.4 -16.9 55.5 27.8 9.9 1.9 15.9 -46.9 39.2 26

 27 FR153050005 Pension entitlements 1008.9 -502.4 1501.2 740.1 251.2 36.3 473.7 -1402.5 1143.4 27

 28 FR152090205 Equity in noncorporate business 815.3 496.3 761.6 253.6 264.1 189.5 54.5 116.8 -11.6 28

 29 FR153094305 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FR153030005 Other financial assets 1.6 0.9 1.4 0.7 0.7 0.1 -0.2 0.3 4.6 30

 31 FV158090005 Other volume changes (3) 45.2 -5.5 429.0 315.5 -5.5 -25.0 144.0 -239.2 -164.2 31

 Memo:

 32 FL152090005 Net worth outstanding (4) 105099.3 105764.2 118576.7 111812.1 113956.2 115048.6 118576.7 111348.2 118955.3 32

 33 FA156012005 Disposable personal income 14901.9 15766.5 16348.6 16196.0 16258.4 16400.5 16539.6 16698.6 18306.2 33

(1) Sum of net investment (line 2), net holding gains (line 16), and other volume changes (line 31).

(2) Valued at current cost.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.101, line 40.
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R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FC102090005 Change in net worth (1) 688.1 1015.0 -397.8 -488.2 489.2 392.7 -791.5 1418.8 -1424.5 1

 2 FU105060005 Net investment 198.0 -95.1 -446.6 -409.0 13.1 104.9 -155.7 131.8 -90.8 2

 3 FU105061005 Net physical investment 448.7 568.9 516.9 175.9 117.8 145.2 78.0 96.1 -27.3 3

 4 FU105050005 Capital expenditures 1883.2 2068.2 2147.7 568.5 525.8 564.1 489.4 531.3 409.3 4

 5 FU105019005 Fixed investment 1866.0 2017.0 2097.5 521.9 524.4 526.3 525.0 518.6 487.4 5

 6 FU105020005 Inventory change + IVA 17.1 53.4 50.5 45.8 1.6 38.2 -35.0 13.4 -76.9 6

 7 FU105420005 Nonproduced nonfinancial assets 0.1 -2.1 -0.4 0.8 -0.3 -0.4 -0.6 -0.8 -1.1 7

 8 FU106300005 - Consumption of fixed capital 1487.1 1554.0 1636.0 401.1 407.3 411.7 415.9 420.5 423.5 8

 9 FU106320005 Residential 4.3 3.8 4.1 1.0 1.1 1.0 1.1 1.1 1.0 9

 10 FU106330005 Nonresidential 1482.9 1550.1 1632.0 400.1 406.2 410.8 414.8 419.3 422.5 10

 11 FU105020601 - Inventory valuation adjustment -52.7 -54.7 -5.3 -8.5 0.6 7.1 -4.5 14.7 13.2 11

 12 FU105000005 Net lending (+) or net borrowing (-) 74.8 -115.7 -510.3 -410.1 -61.5 71.2 -110.0 133.6 -46.6 12

 13 FU104090005 Net acquisition of financial assets 547.7 870.5 751.4 -28.9 218.5 301.5 260.2 790.2 286.8 13

 14 FU104194005 - Net increase in liabilities and equity 472.9 986.2 1261.7 381.1 280.0 230.3 370.2 656.6 333.3 14

 15 FU103164103 Net corporate equity issues -325.6 -548.3 -453.2 -174.8 -43.2 -111.5 -123.7 -97.9 -17.0 15

 16 FR108000005 Net holding gains 1809.3 -627.8 1354.4 667.6 706.5 216.5 -236.2 -730.0 89.7 16

 17 FR102010005 Nonfinancial assets 995.2 285.1 1013.8 384.9 605.4 305.9 -282.4 95.7 59.4 17

 18 FR105035005 Real estate 861.5 152.1 968.7 368.9 597.1 337.2 -334.4 127.0 33.4 18

 19 FR105015205 Equipment (2) 33.9 58.2 8.6 15.3 -0.5 -8.3 2.1 9.0 -0.4 19

 20 FR105013765 Intellectual property products (2) 56.1 49.7 42.2 27.0 17.5 6.6 -8.9 15.0 28.4 20

 21 FR105020015 Inventories (2,3) 43.7 25.1 -5.8 -26.4 -8.6 -29.5 58.8 -55.3 -1.9 21

 22 FR108080095 Financial assets 1329.2 -1269.4 1571.0 805.6 233.7 -67.2 598.9 -2041.3 1143.1 22

 23 FR104022005 Debt securities 0.5 -1.9 3.9 1.5 2.0 1.2 -0.8 4.3 -0.5 23

 24 FR103064103 Corporate equities 325.9 -118.8 517.3 234.0 76.7 25.0 181.5 -461.8 368.5 24

 25 FR103064203 Mutual fund shares 37.3 -22.2 51.4 26.2 8.5 0.3 16.3 -52.4 41.9 25

 26 FR103092005 Direct investment abroad 965.6 -1126.5 998.4 543.9 146.4 -93.7 401.9 -1531.5 733.1 26

 27 FR108100005 Less: liabilities 515.1 -356.5 1230.4 522.9 132.5 22.3 552.7 -1215.7 1112.8 27

 28 FR103192005 Foreign direct investment in U.S. 785.2 -508.6 1675.8 732.8 216.6 49.1 677.3 -1576.3 1454.0 28

 29 FR573073005 Claims of pension fund on sponsor -270.1 152.1 -445.4 -209.8 -84.1 -26.8 -124.6 360.6 -341.2 29

 30 FV108090005 Other volume changes (4) -1319.2 1737.9 -1305.6 -746.8 -230.4 71.2 -399.6 2017.1 -1423.4 30

 Memo:

 31 FL102090005 Net worth outstanding (5) 15200.4 16215.5 15817.6 15727.3 16216.5 16609.2 15817.6 17236.5 15812.0 31

(1) Sum of net investment (line 2), net holding gains (line 16), and other volume changes (line 30).

(2) Valued at current cost.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 39.
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R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FC112090205 Change in net worth (1) 883.0 457.1 776.6 198.4 292.7 211.7 73.7 71.1 9.9 1

 2 FU115440005 Net capital transfers paid -9.4 -3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FU115060005 Net investment 100.7 -23.9 14.1 -55.4 28.4 22.0 19.1 -46.0 21.3 3

 4 FU115061005 Net physical investment 70.5 83.4 80.2 -40.1 45.1 40.9 34.3 -37.9 24.8 4

 5 FU115050005 Capital expenditures 392.3 419.7 430.0 46.2 132.2 128.8 122.8 51.3 114.7 5

 6 FU115019005 Fixed investment 393.0 415.3 431.4 45.3 132.6 129.4 124.2 53.8 125.8 6

 7 FU115020005 Change in inventories -0.7 4.4 -1.5 1.0 -0.4 -0.6 -1.4 -2.4 -11.1 7

 8 FU116300005 - Consumption of fixed capital 321.8 336.3 349.8 86.3 87.1 87.9 88.5 89.3 89.9 8

 9 FU116320005 Residential 93.8 100.5 103.8 25.3 26.0 26.2 26.4 26.8 27.0 9

 10 FU116330005 Nonresidential 228.0 235.9 245.9 61.0 61.1 61.7 62.1 62.4 62.9 10

 11 FU115000005 Net lending (+) or net borrowing (-) -61.1 -80.4 -80.2 40.1 -45.1 -40.9 -34.3 37.9 -24.8 11

 12 FU114090005 Net acquisition of financial assets 613.7 416.8 367.3 89.0 78.6 104.2 95.4 196.4 242.5 12

 13 FU114190005 - Net increase in liabilities 674.8 497.1 447.5 48.9 123.7 145.1 129.8 158.4 267.4 13

 14 FU112090205 Proprietor’s net investment (2) 91.3 -27.0 14.1 -55.4 28.4 22.0 19.1 -46.0 21.3 14

 15 FR118000005 Net holding gains 805.9 493.3 761.6 253.6 264.1 189.5 54.5 116.8 -11.6 15

 16 FR112010005 Nonfinancial assets 808.9 500.8 732.0 251.6 259.3 190.3 30.8 104.3 -7.0 16

 17 FR115035023 Residential real estate 464.4 394.9 405.2 99.1 89.9 90.2 126.0 52.6 -22.1 17

 18 FR115035035 Nonresidential real estate 293.0 66.4 305.2 114.9 181.2 103.7 -94.6 39.5 13.5 18

 19 FR115012265 Residential equipment (3) -1.4 3.3 -2.5 0.2 -0.4 -0.7 -1.6 0.4 1.4 19

 20 FR115013265 Nonresidential equipment (3) 37.3 33.9 21.9 29.9 -3.9 4.9 -9.1 28.0 2.7 20

 21 FR115013765 Intellectual property products (3) 5.2 4.3 4.0 2.5 1.9 0.4 -0.8 -4.4 -5.6 21

 22 FR115020005 Inventories (3) 10.3 -2.1 -1.8 4.9 -9.4 -8.3 10.9 -11.8 3.1 22

 23 FR114022005 Financial assets (debt securities) 0.1 -1.2 3.5 1.3 2.0 1.4 -1.3 6.5 -0.5 23

 Less: liabilities (foreign direct

 24 FR115114005 investment in U.S.) 3.1 6.3 -26.1 -0.7 -2.8 2.2 -24.9 -6.1 4.1 24

 25 FV118090005 Other volume changes (4) -14.2 -9.2 1.0 0.3 0.2 0.2 0.2 0.2 0.1 25

 Memo:

 26 LM112090205 Net worth outstanding (5) 11021.1 11478.3 12254.9 11676.7 11969.5 12181.2 12254.9 12326.0 12335.8 26

(1) Sum of net capital transfers paid (line 2), net investment (line 3), net holding gains (line 15), and other volume changes (line 24).

(2) Shown on table F.104, line 32.

(3) Valued at current cost.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.104, line 35.
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B.101.h Balance Sheet of Households (1)

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

2011 2012 2013 2014 2015 2016 2017 2018 2019

 

 1 FL192000005 Assets 77229.1 81999.4 90376.9 96272.7 99311.6 104650.2 113614.0 114555.3 127231.8 1

 2 LM192010005 Nonfinancial assets 22749.9 23273.9 25102.5 26545.5 28224.4 30101.9 32108.8 33903.5 35678.4 2

 3 LM155035015 Real estate (2) 18105.2 18546.4 20322.9 21686.1 23217.3 24947.7 26806.6 28381.9 29928.3 3

 4 LM155111005 Consumer durable goods (3) 4644.7 4727.5 4779.6 4859.3 5007.0 5154.1 5302.1 5521.7 5750.1 4

 5 FL194090005 Financial assets 54479.2 58725.6 65274.4 69727.2 71087.2 74548.3 81505.2 80651.8 91553.4 5

 6 FL193020005 Checkable deposits and currency 694.1 799.9 983.0 964.7 1060.8 959.6 1126.0 1019.7 1038.5 6

 7 FL193030205 Time deposits and short-term investments 6610.3 6928.9 7119.4 7670.5 8183.7 8851.5 8998.9 9393.2 9925.3 7

 8 FL193034005 Money market fund shares 1524.7 1534.8 1533.4 1498.8 1476.5 1472.6 1530.8 1699.2 2090.2 8

 9 LM194022005 Debt securities 5284.8 5398.9 4252.6 4420.6 4324.7 4118.0 4148.7 4878.4 5447.2 9

10 LM193061005 U.S. government and municipal securities 3296.8 3333.0 2793.8 2846.7 3297.4 3258.7 3361.5 4085.0 4594.7 10

11 LM193063005 Corporate and foreign bonds 1987.9 2066.0 1458.8 1573.8 1027.3 859.4 787.2 793.4 852.5 11

12 FL194023005 Loans 863.3 882.1 939.1 982.7 917.1 905.8 840.9 826.3 835.6 12

13 FL153067005 Other loans and advances (4) 726.1 758.1 818.2 870.3 819.2 815.3 760.4 758.7 778.8 13

14 FL193065005 Mortgages 137.2 124.1 120.9 112.4 97.9 90.5 80.5 67.5 56.9 14

15 LM193064005 Corporate equities and mutual fund shares 11755.2 13705.9 17272.3 19429.1 19253.0 21023.3 25050.3 22630.3 29115.0 15

16 FL153040005 Life insurance reserves 1350.4 1352.6 1407.8 1472.1 1510.9 1568.1 1626.6 1659.1 1731.3 16

17 FL153050005 Pension entitlements (5) 18699.1 19731.8 22275.9 23103.4 23431.6 24304.6 25900.2 25743.9 27745.0 17

18 LM152090205 Equity in noncorporate business (6) 6732.7 7419.2 8466.1 9142.7 9846.9 10205.9 11089.8 11556.5 12338.4 18

19 FL153090005 Miscellaneous assets 964.6 971.5 1024.9 1042.8 1082.1 1138.8 1193.0 1245.1 1286.9 19

20 FL194190005 Liabilities 13143.0 13077.0 13309.7 13425.4 13580.2 13969.3 14482.2 14948.6 15430.3 20

21 FL194123005 Loans 13118.0 13051.3 13281.0 13395.5 13548.6 13938.0 14449.1 14913.6 15393.8 21

22 FL153165105 One-to-four-family residential mortgages (7) 9785.5 9537.1 9437.1 9387.2 9492.9 9657.1 9914.4 10185.1 10454.9 22

23 FL153166000 Consumer credit 2756.4 2913.2 3090.9 3311.9 3390.6 3620.8 3813.0 3998.1 4180.6 23

24 FL193168005 Depository institution loans n.e.c. 159.4 149.2 161.4 172.4 217.2 223.4 225.8 259.3 262.4 24

25 FL193169005 Other loans and advances 416.7 451.9 591.6 523.9 447.9 436.7 495.9 471.0 495.9 25

26 FL543077073 Deferred and unpaid life insurance premiums 25.0 25.7 28.7 29.9 31.6 31.3 33.1 35.0 36.5 26

27 FL192090005 Net worth 64086.1 68922.4 77067.2 82847.3 85731.3 90680.9 99131.8 99606.7 111801.5 27

 Memo:

 Reconciliation with household and

 nonprofit organization sector net worth: (8)

28 FL152090005 Household and nonprofit net worth (B.101, line 40) 67686.1 72854.0 81622.2 87704.2 90797.1 96108.7 105099.3 105764.2 118576.7 28

29 FL152000005 Household and nonprofit total assets (B.101, line 1) 81639.4 86749.5 95738.1 101971.4 105240.8 110965.3 120488.8 121640.9 134954.1 29

30 FL192000005 Household total assets (B.101.h, line 1) 77229.1 81999.4 90376.9 96272.7 99311.6 104650.2 113614.0 114555.3 127231.8 30

31 FL162000005 Nonprofit total assets (B.101.n, line 1) 5662.7 6129.8 6879.0 7293.9 7580.7 8081.5 8832.4 9189.1 9978.0 31

32 FL163093005 Less: Nonprofit misc. assets (B.101.n, line 19) 1151.4 1276.7 1410.5 1488.3 1536.1 1654.9 1839.4 1978.3 2128.1 32

33 FL164041085 Less: Nonprofit other notes and loans receivable (9) 101.0 103.1 107.3 106.9 115.4 111.5 118.2 125.1 127.6 33

34 FL154190005 Less: Household and nonprofit liabilities (B.101, line 30) 13953.3 13895.6 14115.9 14267.2 14443.7 14856.6 15389.5 15876.7 16377.4 34

35 FL194190005 Household liabilities (B.101.h, line 20) 13143.0 13077.0 13309.7 13425.4 13580.2 13969.3 14482.2 14948.6 15430.3 35

36 FL164190005 Nonprofit liabilities (B.101.n, line 20) 1519.6 1589.3 1609.6 1723.3 1808.6 1833.3 1924.8 1993.0 2061.8 36

37 FL163193005 Less: Nonprofit misc. liabilities (B.101.n, line 27) 709.3 770.8 803.3 881.5 945.1 946.0 1017.5 1064.9 1114.7 37

(1) Table is based on table B.101 Balance Sheet of Households and Nonprofit Organizations, with adjustments to remove the assets and liabilities of nonprofit organizations, shown on table B.101.n.

(2) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land, at market value.

(3) At replacement (current) cost.

(4) Cash accounts at brokers and dealers.

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

(6) Net worth of nonfinancial noncorporate business (table B.104, line 35) and owners’ equity in unincorporated security brokers and dealers.

(7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens (table L.218, line 23).

(8) Some financial asset and liability items shown on the supplemental balance sheet of nonprofit organizations (table B.101.n) are not included on the balance sheet of the household and nonprofit

 organization sector (table B.101). Therefore, some adjustments are necessary to reconcile the combined assets and liabilities of the household sector (table B.101.h) and nonprofit organization sector

 (table B.101.n) with the household and nonprofit organization sector’s (table B.101) in the core Financial Accounts.

(9) Loans, other than syndicated loans, that are not included in household and nonprofit organizations’ other loans and advances (table B.101, line 20).
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B.101.n Balance Sheet of Nonprofit Organizations (1)

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

2011 2012 2013 2014 2015 2016 2017 2018 2019

 

 1 FL162000005 Total assets 5662.7 6129.8 6879.0 7293.9 7580.7 8081.5 8832.4 9189.1 9978.0 1

 2 FL162010005 Nonfinancial assets 2392.3 2542.5 2882.3 3088.4 3352.4 3548.2 3825.6 3945.8 4247.9 2

 3 FL165035005 Real estate (2) 1962.3 2081.5 2390.8 2571.9 2811.1 2980.4 3233.3 3323.1 3598.4 3

 4 FL165015205 Equipment (3) 307.3 326.9 346.1 364.1 383.8 402.0 417.5 438.6 457.0 4

 5 FL165013765 Intellectual property products (3) 122.7 134.0 145.4 152.4 157.5 165.9 174.9 184.1 192.5 5

 6 FL164090005 Financial assets 3270.4 3587.3 3996.7 4205.5 4228.3 4533.3 5006.8 5243.3 5730.1 6

 7 FL163020005 Cash and non-interest-bearing deposits 104.8 111.0 121.8 134.9 146.4 157.9 169.0 180.3 191.5 7

 8 FL163030205 Other deposits and short-term investments (4) 234.7 254.8 257.5 257.5 251.0 253.0 274.1 279.8 279.7 8

 9 FL163034003 Money market fund shares 60.1 55.1 58.5 69.2 74.6 85.8 87.0 96.7 114.0 9

10 LM164022005 Debt securities 275.5 268.6 254.6 282.2 282.4 295.5 319.0 330.5 353.9 10

11 LM163061005 U.S. government and municipal securities (5) 101.7 92.9 86.2 110.9 109.0 107.6 115.4 118.0 122.5 11

12 LM163063005 Corporate and foreign bonds 173.9 175.7 168.5 171.3 173.3 188.0 203.6 212.5 231.4 12

13 FL164023005 Loans 192.4 183.1 185.8 179.9 183.1 178.6 180.2 181.0 182.1 13

14 FL163065013 Mortgages 1.0 1.1 0.8 1.1 0.8 1.2 1.1 1.1 1.2 14

15 FL163066223 Consumer credit 67.1 58.0 51.8 47.6 44.9 41.3 35.2 31.3 27.7 15

16 FL164041005 Other notes and loans receivable (6) 124.4 124.0 133.2 131.2 137.4 136.1 144.0 148.6 153.3 16

17 LM163064005 Corporate equities and mutual fund shares 1052.9 1230.5 1494.7 1552.6 1513.8 1663.3 1882.7 1934.7 2211.0 17

18 FL163070005 Grants and trade receivables 198.6 207.6 213.2 240.7 241.0 244.2 255.4 262.1 269.7 18

19 FL163093005 Miscellaneous assets (7) 1151.4 1276.7 1410.5 1488.3 1536.1 1654.9 1839.4 1978.3 2128.1 19

20 FL164190005 Liabilities 1519.6 1589.3 1609.6 1723.3 1808.6 1833.3 1924.8 1993.0 2061.8 20

21 FL163162003 Debt securities (municipal securities) 262.3 248.2 234.6 228.1 220.0 217.0 218.7 216.4 213.2 21

22 FL164123005 Loans 254.1 269.3 276.2 291.7 302.2 320.8 332.8 346.7 360.8 22

23 FL163165505 Commercial mortgages 204.0 212.8 221.7 228.3 238.8 252.9 259.4 269.1 278.4 23

24 FL163168005 Depository institution loans n.e.c. 50.0 56.6 54.6 63.3 63.4 67.9 73.4 77.6 82.3 24

25 FL163169385 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 FL163170005 Trade payables 293.9 301.0 295.4 322.1 341.3 349.5 355.9 365.0 373.1 26

27 FL163193005 Miscellaneous liabilities (8) 709.3 770.8 803.3 881.5 945.1 946.0 1017.5 1064.9 1114.7 27

28 FL162090005 Net worth 4143.1 4540.5 5269.4 5570.6 5772.1 6248.2 6907.6 7196.0 7916.2 28

 Memo:

29 FL164090015 Total financial assets of private foundations 609.3 658.1 743.1 784.9 786.2 840.7 898.2 920.5 995.6 29

30 FL164090025 Total financial assets of 501(c) organizations 2661.1 2929.2 3253.6 3420.6 3442.1 3692.5 4108.5 4322.8 4734.5 30

(1) Includes private foundations, including charitable trusts, and organizations that are tax-exempt under Sections 501(c)(3) through 501(c)(9) of the Internal Revenue Code. Does not include religious

 organizations or organizations with less than $25,000 in gross annual receipts. Most financial asset and liability information from annual tax data available with a lag; recent values estimated

 by staff.

(2) Residential and nonresidential real estate at market value.

(3) At replacement (current) cost.

(4) Includes interest-bearing checking and savings accounts, deposits in transit, commercial paper, certificates of deposit, and U.S. Treasury bills or other governmental obligations that mature

 in one year or less.

(5) Excludes the short-term debt securities included in line 16.

(6) Includes some loans that are not included in household and nonprofit organizations’ holdings of other loans and advances (table B.101, line 20).

(7) Includes pledges receivable, receivables from officers and disqualified persons, prepaid expenses and deferred charges, other investments, and other financial assets. Not included on table B.101.

(8) Not included on table B.101.
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B.101.e Balance Sheet of Households and Nonprofit Organizations with Debt and Equity Holdings Detail

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL152000005 Assets 120488.8 121640.9 134954.1 127686.8 129998.0 131262.0 134954.1 127798.6 135435.2 1

 2 FL152010005 Nonfinancial assets 35934.4 37849.3 39926.3 38625.6 39208.0 39624.9 39926.3 40403.5 40886.8 2

 3 FL154090005 Financial assets 84554.4 83791.6 95027.8 89061.2 90790.0 91637.1 95027.8 87395.1 94548.4 3

 4 FL154000025 Deposits (1) 12185.8 12668.9 13639.3 12965.5 12929.5 13112.7 13639.3 14362.4 15661.2 4

 5 LM154022375 Debt securities at market value 8925.5 9876.3 11184.5 10008.4 10634.4 11027.0 11184.5 10693.0 10759.7 5

 6 LM154022005 Directly held 4467.6 5208.9 5801.1 5318.7 5750.2 5780.8 5801.1 5621.8 5382.4 6

 7 LM154022075 Indirectly held 4457.9 4667.5 5383.4 4689.7 4884.1 5246.1 5383.4 5071.1 5377.3 7

 8 LM544022053 Life insurance companies 444.4 432.2 467.4 444.6 454.9 463.7 467.4 429.8 451.6 8

 9 LM574022075 Private pension funds (2) 1398.8 1421.7 1621.6 1482.7 1541.9 1594.2 1621.6 1576.4 1662.4 9

10 LM344022025 Federal govt. retirement funds (2) 97.0 281.0 283.5 69.2 74.5 275.9 283.5 299.1 312.8 10

11 LM223064223 State and local govt. retirement funds (2) 60.2 54.0 62.8 56.9 58.8 60.7 62.8 57.3 61.0 11

12 LM654022055 Mutual funds 2457.5 2478.6 2948.2 2636.2 2754.0 2851.7 2948.2 2708.5 2889.5 12

13 FL154023005 Loans 903.0 882.1 890.1 869.9 872.0 901.4 890.1 1032.3 1005.9 13

14 LM153064475 Equity shares at market value 29951.8 26997.1 34474.5 31208.5 31886.2 31959.0 34474.5 26179.6 31897.5 14

15 LM153064105 Directly held 18278.2 16559.2 21287.4 19327.4 19634.9 19789.2 21287.4 16000.7 19518.7 15

16 LM153064175 Indirectly held 11673.7 10437.9 13187.1 11881.1 12251.2 12169.8 13187.1 10178.9 12378.8 16

17 LM543064153 Life insurance companies 1460.3 1243.0 1485.6 1384.3 1413.5 1395.9 1485.6 1155.7 1373.6 17

18 LM573064175 Private pension funds (2) 3870.7 3531.7 4417.8 3989.9 4111.1 4094.7 4417.8 3460.6 4203.2 18

19 LM343064125 Federal govt. retirement funds (2) 308.7 277.9 355.0 316.2 326.3 324.6 355.0 264.9 328.5 19

20 LM223064213 State and local govt. retirement funds (2) 144.2 114.9 144.5 130.9 133.8 132.3 144.5 109.8 133.8 20

21 LM653064155 Mutual funds 5889.8 5270.4 6784.2 6059.8 6266.7 6222.2 6784.2 5187.8 6339.5 21

22 FL153099475 Other 32588.3 33367.1 34839.3 34008.9 34468.0 34636.9 34839.3 35127.8 35224.1 22

23 FL154190005 Liabilities 15389.5 15876.7 16377.4 15874.8 16041.8 16213.4 16377.4 16450.4 16479.8 23

24 FL152090005 Net worth 105099.3 105764.2 118576.7 111812.1 113956.2 115048.6 118576.7 111348.2 118955.3 24

 Memo:

 Debt securities (line 5) as a percent of

25 FL154022376 Total assets (line 1) 7.41 8.12 8.29 7.84 8.18 8.40 8.29 8.37 7.94 25

26 FL154022386 Financial assets (line 3) 10.56 11.79 11.77 11.24 11.71 12.03 11.77 12.24 11.38 26

 Equity shares (line 14) as a percent of

27 FL153064476 Total assets (line 1) 24.86 22.19 25.55 24.44 24.53 24.35 25.55 20.49 23.55 27

28 FL153064486 Financial assets (line 3) 35.42 32.22 36.28 35.04 35.12 34.88 36.28 29.96 33.74 28

(1) Includes foreign deposits, checkable deposits and currency, time and savings deposits, and money market fund shares.

(2) Defined contribution plans. Assets held by defined benefit pension funds are not considered assets of the household sector. Defined benefit pension entitlements are included in line 22.
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B.101.f Balance Sheet of Domestic Hedge Funds (1)

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL622000623 Assets 2324.9 2267.0 2428.4 2297.6 2356.0 2396.0 2428.4 2221.9 ND 1

 2 FL625035003 Nonfinancial assets (real estate) 73.7 81.6 88.4 74.1 80.1 87.6 88.4 87.5 ND 2

 3 FL624090005 Financial assets 2251.2 2185.4 2340.1 2223.5 2276.0 2308.3 2340.1 2134.4 ND 3

 4 FL623091003 Foreign currency 19.8 20.1 19.9 23.4 22.8 20.5 19.9 18.3 ND 4

 5 FL623039003 Deposits 42.7 38.9 37.7 43.9 39.0 35.8 37.7 41.7 ND 5

 6 FL623039013 Other cash and cash equivalents 84.1 74.6 89.2 75.6 81.2 85.5 89.2 93.2 ND 6

 7 FL623034003 Money market fund shares 80.1 77.5 80.3 69.5 70.3 77.9 80.3 93.3 ND 7

 8 FL622051003 Security repurchase agreements 86.8 90.5 78.8 94.7 94.5 91.5 78.8 100.0 ND 8

 9 LM624022005 Debt securities 653.4 675.5 679.6 618.2 663.8 695.4 679.6 651.7 ND 9

10 LM623061103 Treasury securities 189.7 200.7 218.5 200.0 216.6 236.4 218.5 187.9 ND 10

11 LM623061703 Agency- and GSE-backed securities 15.1 14.0 13.1 16.0 15.8 15.8 13.1 16.6 ND 11

12 LM623062003 Municipal securities 9.2 13.9 12.8 12.4 12.4 11.6 12.8 13.6 ND 12

13 LM623063003 Corporate and foreign bonds 439.4 446.8 435.3 389.8 419.0 431.6 435.3 433.6 ND 13

14 FL623069005 Loans 88.4 107.6 125.5 113.5 115.1 117.0 125.5 123.4 ND 14

15 FL623069503 Leveraged loans 62.0 69.1 85.1 74.6 76.7 79.5 85.1 84.9 ND 15

16 FL623069003 Other loans 26.4 38.6 40.4 39.0 38.4 37.5 40.4 38.6 ND 16

17 LM623064103 Corporate equities 733.1 672.2 815.5 753.2 752.8 742.6 815.5 619.5 ND 17

18 LM623064203 Mutual fund shares 36.1 27.2 11.0 27.9 25.9 24.8 11.0 8.1 ND 18

19 FL623093005 Miscellaneous assets 426.8 401.1 402.7 403.6 410.6 417.2 402.7 385.4 ND 19

20 FL624190005 Liabilities 685.1 717.2 770.0 703.6 735.5 769.2 770.0 723.3 ND 20

21 FL622151005 Security repurchase agreements 72.0 69.6 85.3 64.1 74.5 98.9 85.3 99.9 ND 21

22 FL622151013 Domestic institutions 50.3 52.2 56.4 46.3 55.8 62.1 56.4 65.8 ND 22

23 FL622151063 Foreign institutions 21.7 17.3 28.8 17.8 18.6 36.8 28.8 34.1 ND 23

24 FL624123005 Loans 429.4 390.8 449.2 421.8 442.6 432.2 449.2 372.0 ND 24

25 FL624123035 Secured borrowing via prime brokerage 348.7 301.3 351.4 329.5 340.0 330.2 351.4 265.1 ND 25

26 FL623167003 From domestic institutions 298.0 261.4 306.7 289.0 299.5 289.2 306.7 233.4 ND 26

27 FL623169533 From foreign institutions 50.8 39.9 44.7 40.5 40.5 41.0 44.7 31.7 ND 27

28 FL624123015 Other secured borowing 73.5 82.8 87.2 84.3 93.4 92.7 87.2 95.7 ND 28

29 FL623168013 From domestic institutions 46.8 50.5 58.4 51.3 54.5 57.6 58.4 64.7 ND 29

30 FL623169513 From foreign institutions 26.7 32.3 28.7 33.0 38.9 35.1 28.7 31.0 ND 30

31 FL623168023 Unsecured borrowing 7.1 6.7 10.7 8.0 9.2 9.3 10.7 11.2 ND 31

32 FL623193005 Miscellaneous liabilities 183.7 256.8 235.5 217.8 218.5 238.1 235.5 251.3 ND 32

 Memo:

33 FL622000003 Total net assets 1639.8 1549.8 1658.4 1593.9 1620.5 1626.8 1658.4 1498.7 ND 33

34 FL623098003 Derivatives (2) 1532.5 1153.2 1124.0 1236.5 1250.9 1060.3 1124.0 952.6 ND 34

(1) Data begin 2012:Q4. Includes only hedge funds domiciled in the United States as reported on SEC forms ADV and PF.

(2) Long exposure of derivatives.
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F.4.g Gross Fixed Investment (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA885019005 Gross fixed investment (by type) 3999.1 4279.0 4454.9 4404.8 4436.5 4476.3 4502.0 4516.1 4222.3 1

 2 FA885019065 Structures 1664.1 1753.8 1805.3 1770.4 1796.0 1819.6 1835.1 1890.1 1730.2 2

 3 FA885019025 Equipment 1219.2 1333.0 1371.0 1384.0 1369.3 1365.5 1365.3 1311.5 1190.2 3

 4 FA885013075 Intellectual Property Products 1057.5 1145.4 1231.5 1203.3 1224.0 1244.1 1254.5 1267.3 1254.8 4

 5 FA885013035 Software 401.4 440.0 471.6 460.5 467.6 477.3 481.0 489.1 485.8 5

 6 FA885013045 Research and development 572.1 617.6 669.1 653.1 665.9 675.7 681.8 687.6 683.5 6

 7 FA835013051 Entertainment, literary, and artistic originals 84.0 87.8 90.7 89.7 90.5 91.1 91.7 90.6 85.5 7

 8 FA105013893 Miscellaneous adjustments (2) 58.3 46.7 47.1 47.1 47.1 47.1 47.1 47.1 47.1 8

 9 FA885019005 Gross fixed investment (by sector) 3999.1 4279.0 4454.9 4404.8 4436.5 4476.3 4502.0 4516.1 4222.3 9

10 FA155019005 Households and nonprofit organizations 821.8 866.8 878.0 870.1 867.3 880.6 894.1 926.3 827.2 10

11 FA105019085 Nonfinancial corporate business (3) 1864.3 2020.4 2104.6 2093.4 2103.1 2113.5 2108.5 2085.6 1965.2 11

12 FA115019085 Nonfinancial noncorporate business 393.0 415.3 431.4 425.8 429.2 434.6 436.2 436.2 398.5 12

13 FA315019001 Federal government 278.7 295.9 321.9 312.8 315.7 324.7 334.3 334.6 341.7 13

14 FA215019001 State and local governments 385.6 407.9 431.0 417.9 434.2 433.2 438.5 453.6 448.6 14

15 FA795013005 Domestic financial sectors (4) 255.6 272.6 288.0 284.9 287.1 289.8 290.4 279.8 241.2 15

16 FA715013005 Monetary authority 0.7 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 16

17 FA705013005 Private depository institutions 46.8 55.3 58.6 56.6 58.2 59.4 60.1 52.3 28.2 17

18 FA765013005 U.S.-chartered depository institutions 35.2 41.3 45.0 43.2 44.7 45.8 46.5 38.8 15.5 18

19 FA755013005 Foreign banking offices in U.S. 5.0 5.6 6.4 6.3 6.4 6.4 6.4 6.4 6.0 19

20 FA745013005 Banks in U.S.-affiliated areas 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 20

21 FA475013005 Credit unions 6.5 8.2 7.0 6.9 6.9 7.0 7.0 7.0 6.6 21

22 FA515013005 Property-casualty insurance companies 24.5 26.2 28.0 27.5 27.8 28.2 28.3 28.5 27.5 22

23 FA545013005 Life insurance companies 18.6 19.8 21.5 21.1 21.3 21.6 21.7 21.8 21.2 23

24 FA575013005 Private pension funds 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 24

25 FA225013005 State and local government employee retirement funds 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 25

26 FA405013005 Government-sponsored enterprises 1.1 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.8 26

27 FA675013025 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FA615013005 Finance companies 81.7 85.0 89.6 90.4 89.7 89.3 89.0 86.0 77.7 28

29 FA125013005 REITs (3) 13.7 13.3 13.5 13.3 13.4 13.6 13.5 13.3 12.1 29

30 FA665013005 Security brokers and dealers 30.0 33.2 35.4 34.9 35.3 35.7 35.7 35.7 33.9 30

31 FA735013005 Holding companies 37.7 37.5 39.2 38.6 39.0 39.6 39.7 39.8 38.4 31

 Memo:

32 FA125012063 REITs residential structures (3) -1.7 3.5 7.1 7.3 5.2 8.0 8.0 5.9 -0.7 32

33 FA155111003 Consumer durable goods (5) 1311.4 1377.0 1427.7 1390.6 1429.3 1444.9 1446.1 1392.5 1377.2 33

34 FA145020005 Inventories (6) 16.3 57.7 49.1 98.6 53.1 41.3 3.4 -52.1 -297.9 34

(1) Private gross fixed investment is from BEA, NIPA table 5.2.5. Structures is from BEA, NIPA table 5.4.5. Equipment is from BEA, NIPA table 5.5.5. Intellectual Property Products

 is from BEA, NIPA table 5.6.5. Government gross fixed investment is from BEA, NIPA table 3.9.5.

(2) Calculated as the difference between gross fixed investment in BEA’s NIPA and gross fixed investment in BEA’s fixed assets accounts (FAA); the latter are used to to estimate

 stocks of fixed assets for balance sheets. For the minor definitional differences between the two estimates of gross fixed investment, see the

 BEA FAA web page https://apps.bea.gov/iTable/index_FA.cfm.

(3) Equity REIT gross investment in residential structures is included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the

 Financial Accounts, equity REIT investment in residential structures is included with the financial business sector.

(4) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(5) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, however, consumer durables are included in household

 sector fixed investment (table F.101, line 14).

(6) Inventories are not included above but are part of nonfinancial business gross investment (table F.4, lines 25 and 26).
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F.4.c Consumption of Fixed Capital

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA886300095 Consumption of fixed capital (by type) 3112.9 3265.0 3420.9 3361.6 3404.4 3443.3 3474.4 3509.0 3535.2 1

 2 FA886300065 Structures 1136.8 1188.9 1235.2 1213.2 1229.6 1243.6 1254.5 1266.9 1275.7 2

 3 FA886300025 Equipment 1050.4 1090.5 1133.6 1114.3 1128.2 1140.9 1151.1 1162.7 1171.6 3

 4 FA886330075 Intellectual Property Products 925.7 985.7 1052.0 1034.0 1046.5 1058.7 1068.7 1079.2 1087.8 4

 5 FA886330035 Software 354.6 379.3 411.3 403.4 409.0 414.3 418.6 422.8 426.0 5

 6 FA886330045 Research and development 496.6 529.1 560.6 551.9 557.8 563.8 568.7 574.2 578.9 6

 7 FA836330053 Entertainment, literary, and artistic originals 74.4 77.3 80.1 78.7 79.7 80.7 81.4 82.3 82.9 7

 8 FA886300095 Consumption of fixed capital (by sector) 3112.9 3265.0 3420.9 3361.6 3404.4 3443.3 3474.4 3509.0 3535.2 8

 9 FA156300003 Households and nonprofit organizations 537.8 574.0 599.0 589.4 594.9 603.0 608.9 614.1 619.3 9

10 FA106300003 Nonfinancial corporate business (1) 1489.3 1557.1 1639.2 1607.8 1632.1 1650.4 1666.6 1684.8 1697.3 10

11 FA116300001 Nonfinancial noncorporate business 321.8 336.3 349.8 345.2 348.6 351.5 353.8 357.1 359.5 11

12 FA316300001 Federal government 277.0 285.8 294.8 292.1 293.1 295.8 298.3 300.5 303.6 12

13 FA216300001 State and local governments 266.2 280.3 293.5 288.2 292.7 295.6 297.3 299.7 300.6 13

14 FA796300081 Domestic financial sectors (2) 220.7 231.5 244.6 239.0 243.1 247.0 249.5 252.8 255.0 14

15 FA716330005 Monetary authority 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 15

16 FA706330005 Private depository institutions 38.6 42.3 46.4 45.0 45.8 47.0 47.8 48.6 49.1 16

17 FA766330005 U.S.-chartered depository institutions 29.0 31.7 35.8 34.6 35.2 36.2 37.0 37.6 38.1 17

18 FA756330005 Foreign banking offices in U.S. 4.1 4.3 5.0 4.9 5.0 5.1 5.1 5.2 5.2 18

19 FA746330005 Banks in U.S.-affiliated areas 0.1 0.1 0.2 0.1 0.2 0.2 0.2 0.2 0.2 19

20 FA476330005 Credit unions 5.4 6.2 5.5 5.4 5.4 5.5 5.6 5.6 5.7 20

21 FA516330005 Property-casualty insurance companies 23.1 23.9 25.2 24.7 25.1 25.4 25.6 26.0 26.2 21

22 FA546330005 Life insurance companies 17.3 18.0 19.1 18.7 19.0 19.2 19.4 19.7 19.8 22

23 FA576330005 Private pension funds 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 23

24 FA226330005 State and local government employee retirement funds 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 24

25 FA406330005 Government-sponsored enterprises 1.0 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 25

26 FA676330023 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 FA616330005 Finance companies 73.8 76.0 79.1 77.4 78.7 79.8 80.4 81.5 82.1 27

28 FA126330005 REITs (1) 6.4 6.8 7.3 7.2 7.3 7.4 7.5 7.6 7.6 28

29 FA666330005 Security brokers and dealers 22.0 23.8 25.5 25.0 25.4 25.8 26.0 26.3 26.5 29

30 FA736330005 Holding companies 36.9 38.3 39.7 38.9 39.5 40.1 40.4 40.9 41.3 30

 Memo:

31 FA156300103 Consumer durable goods (3) 1066.4 1107.8 1157.1 1135.2 1150.1 1165.2 1178.1 1150.5 1160.2 31

(1) Equity REIT residential structure consumption of fixed capital is included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the

 Financial Accounts, equity REIT residential structure consumption of fixed capital is included with the financial business sector.

(2) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(3) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household

 sector capital expenditures.
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F.4.f Net Fixed Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FA885015005 Net fixed investment (by type) 886.3 1014.0 1034.0 1043.2 1032.1 1033.0 1027.6 1007.1 687.1 1

 2 FA885019665 Structures 527.3 564.9 570.0 557.2 566.4 576.0 580.6 623.1 454.4 2

 3 FA885019265 Equipment 168.8 242.5 237.4 269.7 241.2 224.6 214.1 148.8 18.5 3

 4 FA885013765 Intellectual Property Products 131.8 159.7 179.5 169.3 177.5 185.4 185.7 188.1 167.0 4

 5 FA885013365 Software 46.8 60.7 60.3 57.0 58.5 63.1 62.4 66.4 59.7 5

 6 FA885013465 Research and development 75.5 88.5 108.6 101.3 108.2 111.9 113.0 113.4 104.7 6

 7 FA835013565 Entertainment, literary, and artistic originals 9.5 10.5 10.6 11.0 10.8 10.5 10.3 8.3 2.6 7

 8 FA105013893 Miscellaneous adjustments (1) 58.3 46.7 47.1 47.1 47.1 47.1 47.1 47.1 47.1 8

 9 FA885015005 Net fixed investment (by sector) 886.3 1014.0 1034.0 1043.2 1032.1 1033.0 1027.6 1007.1 687.1 9

10 FA155015005 Households and nonprofit organizations 284.0 292.8 279.0 280.8 272.4 277.6 285.1 312.3 207.9 10

11 FA105015085 Nonfinancial corporate business (2) 375.0 463.3 465.4 485.7 471.0 463.1 441.9 400.9 267.9 11

12 FA115015005 Nonfinancial noncorporate business 71.2 79.0 81.7 80.6 80.6 83.1 82.3 79.2 39.0 12

13 FA315015005 Federal government 1.7 10.2 27.0 20.7 22.7 28.9 35.9 34.0 38.1 13

14 FA215015005 State and local governments 119.4 127.6 137.5 129.7 141.5 137.5 141.3 153.8 148.0 14

15 FA795015085 Domestic financial sectors (3) 34.9 41.1 43.4 45.9 44.0 42.8 41.0 26.9 -13.8 15

16 FA715013865 Monetary authority -0.1 -0.2 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 16

17 FA705013865 Private depository institutions 8.2 13.0 12.2 11.6 12.4 12.5 12.3 3.8 -20.9 17

18 FA765013865 U.S.-chartered depository institutions 6.2 9.6 9.3 8.6 9.4 9.5 9.5 1.2 -22.6 18

19 FA755013865 Foreign banking offices in U.S. 0.8 1.4 1.4 1.4 1.4 1.4 1.3 1.2 0.8 19

20 FA745013865 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 FA475013865 Credit unions 1.1 2.0 1.5 1.6 1.5 1.5 1.5 1.3 0.9 21

22 FA515013865 Property-casualty insurance companies 1.4 2.3 2.8 2.8 2.7 2.8 2.7 2.5 1.3 22

23 FA545013865 Life insurance companies 1.3 1.8 2.4 2.4 2.4 2.4 2.3 2.2 1.4 23

24 FA575013865 Private pension funds 0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 24

25 FA225013865 State and local government employee retirement funds 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 25

26 FA405013865 Government-sponsored enterprises 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 26

27 FA675013263 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FA615013865 Finance companies 7.9 9.0 10.6 13.1 11.0 9.6 8.6 4.5 -4.4 28

29 FA125013865 REITs (2) 7.3 6.5 6.1 6.2 6.1 6.2 6.0 5.8 4.4 29

30 FA665013865 Security brokers and dealers 8.0 9.4 9.9 10.0 9.9 10.0 9.8 9.4 7.4 30

31 FA735013865 Holding companies 0.8 -0.8 -0.5 -0.2 -0.5 -0.5 -0.7 -1.1 -2.9 31

 Memo:

32 FA125012665 REITs residential structures (2) -3.9 0.3 3.9 3.9 2.2 4.5 5.0 3.1 -4.1 32

33 FA155111005 Consumer durable goods (4) 245.0 269.2 270.6 255.5 279.1 279.7 268.1 241.9 217.1 33

(1) Included in nonfinancial corporate business sector gross fixed investment, line 11.

(2) Equity REIT net investment in residential structures is included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the

 Financial Accounts, equity REIT investment in residential structures is included with the financial business sector.

(3) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(4) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household sector

 capital expenditures.
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L.4.s Net Stocks, current cost

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

2017 2018 2019 2019 2020

 Q1 Q2 Q3 Q4 Q1 Q2

 1 FL885019865 Net stocks (by type) 59747.2 62902.5 65196.4 63521.4 64208.8 64761.2 65196.4 65709.3 65881.3 1

 2 FL885019665 Structures 47729.4 50282.3 52063.1 50717.2 51278.2 51723.3 52063.1 52455.3 52528.7 2

 3 FL885019265 Equipment 7751.5 8109.8 8372.6 8205.5 8263.2 8311.9 8372.6 8430.6 8446.4 3

 4 FL885013765 Intellectual Property Products 4266.4 4510.3 4760.7 4598.7 4667.4 4726.0 4760.7 4823.4 4906.2 4

 5 FL885013365 Software 746.9 803.7 858.6 818.8 836.9 852.7 858.6 871.0 886.4 5

 6 FL885013465 Research and development 3006.7 3178.9 3356.3 3247.6 3290.7 3331.0 3356.3 3401.9 3461.6 6

 7 FL835013565 Entertainment, literary, and artistic originals 512.9 527.7 545.8 532.4 539.9 542.3 545.8 550.5 558.2 7

 8 FL885019865 Net stocks (by sector) 59747.2 62902.5 65196.4 63521.4 64208.8 64761.2 65196.4 65709.3 65881.3 8

 9 FL155015015 Households and nonprofit organizations 19596.4 20734.1 21503.1 20921.7 21092.9 21313.4 21503.1 21700.2 21815.2 9

10 FL105015085 Nonfinancial corporate business (1) 16945.5 17776.3 18458.3 18002.5 18212.3 18348.8 18458.3 18609.7 18669.1 10

11 FL115015005 Nonfinancial noncorporate business 6905.5 7245.9 7456.0 7306.0 7361.3 7414.0 7456.0 7489.1 7488.8 11

12 FL315015005 Federal government 3406.5 3522.1 3604.2 3554.1 3568.1 3587.1 3604.2 3624.4 3640.7 12

13 FL215015005 State and local governments 10974.1 11606.1 12078.0 11693.5 11905.8 12013.6 12078.0 12175.7 12155.4 13

14 FL795013865 Domestic financial sectors (2) 1919.3 2018.0 2096.7 2043.6 2068.4 2084.3 2096.7 2110.3 2112.1 14

15 FL715013865 Monetary authority 10.3 10.6 10.7 10.6 10.7 10.7 10.7 10.7 10.7 15

16 FL705013865 Private depository institutions 419.5 447.5 468.3 453.9 460.4 464.8 468.3 472.3 473.6 16

17 FL765013865 U.S.-chartered depository institutions 306.4 325.9 352.3 333.4 340.9 347.0 352.3 355.3 356.3 17

18 FL755013865 Foreign banking offices in U.S. 48.4 48.8 54.7 50.4 52.0 53.4 54.7 55.1 55.3 18

19 FL745013865 Banks in U.S.-affiliated areas 1.5 1.7 1.7 1.7 1.7 1.7 1.7 1.7 1.7 19

20 FL475013865 Credit unions 63.1 71.2 59.7 68.5 65.8 62.8 59.7 60.2 60.3 20

21 FL515013865 Property-casualty insurance companies 150.4 157.2 162.8 159.0 160.9 162.1 162.8 163.7 163.9 21

22 FL545013865 Life insurance companies 123.8 129.5 134.5 131.2 132.8 133.9 134.5 135.4 135.7 22

23 FL575013865 Private pension funds 2.9 3.3 2.5 3.1 2.9 2.7 2.5 2.5 2.5 23

24 FL225013865 State and local government employee retirement funds 5.6 5.5 6.5 5.8 6.1 6.3 6.5 6.6 6.5 24

25 FL405013865 Government-sponsored enterprises 6.3 5.3 5.0 5.2 5.2 5.1 5.0 5.0 5.0 25

26 FL675013263 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 FL615013865 Finance companies 476.0 492.2 505.8 497.5 501.2 503.3 505.8 507.9 506.7 27

28 FL125013865 REITs (1) 157.1 170.8 182.7 174.2 177.7 180.3 182.7 184.7 185.5 28

29 FL665013865 Security brokers and dealers 182.4 197.4 210.7 201.3 205.2 208.3 210.7 213.6 215.3 29

30 FL735013865 Holding companies 385.0 398.6 407.2 401.8 405.3 406.8 407.2 407.9 406.7 30

 Memo:

31 FL125012665 REITs residential structures (1) 199.2 200.9 203.9 200.4 200.7 202.4 203.9 205.4 206.3 31

32 FL155111005 Consumer durable goods (3) 5302.1 5521.7 5750.1 5588.0 5655.0 5710.9 5750.1 5798.2 5819.5 32

33 FL145020005 Inventories (4) 2696.9 2832.3 2879.1 2866.1 2848.7 2841.3 2879.1 2808.3 2708.3 33

(1) Equity REIT residential structures are included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the Financial Accounts, equity REIT

 residential structures are included with the financial business sector.

(2) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(3) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household sector fixed investment

 (table B.101, line 8).

(4) Not included above.
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S.1.a Total Economy - Current Account

Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

 1 FA896902505 Gross value added 16436.8 16941.8 17813.9 18475.6 18837.3 19674.4 20669.9 21420.4 1

 (income approach)

 2 FA886300091 Less: Consumption of fixed capital 2576.0 2681.2 2815.0 2911.4 2986.6 3112.9 3265.0 3420.9 2

 3 FA896902601 Equals: Net value added 13860.8 14260.6 14998.9 15564.2 15850.7 16561.6 17404.8 17999.5 3

 4 FA896025001 Compensation of employees (paid) 8575.4 8843.6 9259.7 9709.5 9974.8 10433.1 10960.6 11444.5 4

 5 FA896020001 Wages and salaries 6936.1 7122.6 7485.8 7869.6 8100.1 8482.0 8904.7 9321.4 5

 6 FA896401001 Employers’ social contributions 1639.2 1721.0 1773.9 1839.9 1874.7 1951.1 2055.9 2123.1 6

 7 FA896240101 Taxes on production and imports less subsidies 1078.1 1128.9 1182.7 1218.0 1250.0 1304.1 1381.5 1417.5 7

 8 FA896402101 Operating surplus, net 4207.4 4288.0 4556.5 4636.7 4625.8 4824.4 5062.8 5137.4 8

 9 FA266904001 Plus: Income receipts from the rest of the world 799.7 823.4 853.5 860.8 893.5 1032.7 1142.9 1169.8 9

10 FA266904101 Less: Income payments to the rest of the world 567.4 592.7 612.5 640.4 661.5 740.4 858.2 900.2 10

11 FA896140001 Equals: Net national income/Balance of primary incomes, net 14093.1 14491.3 15239.9 15784.6 16082.7 16853.9 17689.6 18269.1 11

12 FA896402101 Operating surplus, net 4207.4 4288.0 4556.5 4636.7 4625.8 4824.4 5062.8 5137.4 12

13 FA156025105 Compensation of employees (received) 8566.7 8834.2 9249.1 9699.4 9963.9 10422.5 10950.1 11432.4 13

14 FA156020101 Wages and salaries 6927.5 7113.2 7475.2 7859.5 8089.1 8471.5 8894.2 9309.3 14

15 FA156401101 Employers’ social contributions 1639.2 1721.0 1773.9 1839.9 1874.7 1951.1 2055.9 2123.1 15

16 FA896240001 Taxes on production and imports, receivable 1136.1 1188.7 1240.8 1275.2 1311.8 1364.0 1444.8 1491.4 16

17 FA366402015 Subsidies paid -58.0 -59.7 -58.1 -57.2 -61.7 -59.9 -63.3 -73.9 17

18 FA896150105 Property income (received) 6538.2 6573.8 6842.6 7025.2 7145.2 7687.0 8567.8 8237.7 18

19 FA896130101 Interest 3280.8 3115.9 3204.2 3322.4 3439.6 3682.5 3990.0 4257.4 19

20 FA896120105 Distributed income of corporations 2917.4 3087.8 3277.6 3367.0 3377.1 3604.2 4816.8 3772.1 20

21 FA896121101 Dividends 1414.8 1523.9 1649.3 1753.4 1759.3 1896.9 3025.6 1903.5 21

22 FA156122101 Withdrawals from income of quasi-corporations 1502.7 1563.9 1628.3 1613.6 1617.7 1707.4 1791.2 1868.6 22

23 FA893092201 Reinvested earnings on U.S. direct investment abroad 317.2 348.2 337.9 318.0 312.7 382.9 -258.1 187.9 23

24 FA896112101 Rents on land and natural resources 22.7 21.9 22.9 17.9 15.8 17.3 19.3 20.3 24

25 FA896150005 Less: Uses of property income (paid) 6297.3 6333.7 6591.0 6794.7 6902.1 7384.1 8272.7 7956.0 25

26 FA896130001 Interest 3445.2 3274.6 3357.4 3487.1 3616.5 3876.9 4207.3 4481.2 26

27 FA896120005 Distributed income of corporations 2737.5 2949.4 3116.0 3204.2 3191.4 3387.6 3900.7 3307.1 27

28 FA896121001 Dividends 1234.9 1385.5 1487.7 1590.6 1573.6 1680.2 2109.6 1438.4 28

29 FA896122001 Withdrawals from income of quasi-corporations 1502.7 1563.9 1628.3 1613.6 1617.7 1707.4 1791.2 1868.6 29

30 FA893192201 Reinvested earnings on foreign direct investment 91.8 87.8 94.6 85.6 78.5 102.4 145.4 147.5 30

31 FA896112001 Rents on land and natural resources 22.7 21.9 22.9 17.9 15.8 17.3 19.3 20.3 31

32 FA896140001 Net national income/Balance of primary incomes, net 14093.1 14491.3 15239.9 15784.6 16082.7 16853.9 17689.6 18269.1 32

33 FA896220001 Plus: Current taxes on income, wealth, etc. (received) 1851.6 2046.8 2201.1 2347.5 2347.2 2370.8 2382.6 2517.4 33

34 FA896220005 Less: Current taxes on income, wealth, etc. (paid) 1844.1 2039.0 2191.6 2336.2 2334.0 2358.0 2368.2 2501.6 34

35 FA896404105 Plus: Social benefits (received) 3277.7 3495.4 3657.4 3845.2 3961.7 4109.9 4288.5 4502.0 35

36 FA896404005 Less: Social contributions (paid) 3291.1 3509.1 3671.7 3860.3 3977.1 4126.5 4306.2 4520.8 36

37 FA896403105 Plus: Other current transfers (received) 646.6 668.6 746.6 801.9 829.8 825.2 853.8 868.1 37

38 FA896403005 Less: Other current transfers (paid) 745.9 763.1 840.9 915.5 954.5 949.7 993.6 1026.9 38

39 FA896012005 Equals: Disposable income, net 13988.1 14390.9 15140.9 15667.1 15955.7 16725.6 17546.5 18107.1 39

40 FA896901001 Less: Final consumption expenditures 13522.8 13849.2 14388.2 14905.1 15430.8 16083.1 16884.6 17539.7 40

41 FA896006001 Equals: Net saving 465.3 541.7 752.8 762.0 524.9 642.5 661.9 567.5 41

 Addendum:

42 FA896902505 Gross value added (line 1) 16436.8 16941.8 17813.9 18475.6 18837.3 19674.4 20669.9 21420.4 42

43 FA087005005 Plus statistical discrepancy (NIPA) -239.8 -156.9 -286.6 -237.3 -92.2 -131.4 -58.0 12.8 43

44 FA086902005 Equals: GDP (NIPA, expenditure approach) 16197.0 16784.9 17527.3 18238.3 18745.1 19543.0 20611.9 21433.2 44

45 FA086902203 Average of GDP and GDI 16316.9 16863.3 17670.6 18357.0 18791.2 19608.7 20640.9 21426.8 45

46 FA087005086 Statistical discrepancy as a percentage of GDP -1.48 -0.94 -1.64 -1.30 -0.49 -0.67 -0.28 0.06 46
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

 1 FA896902505 Gross value added 16436.8 16941.8 17813.9 18475.6 18837.3 19674.4 20669.9 21420.4 1

 2 FA156902505 Households and nonprofit institutions serving households 2018.4 2075.0 2158.8 2255.9 2349.4 2447.3 2569.5 2686.3 2

 3 FA116902505 Nonfinancial noncorporate business 2977.1 3085.5 3255.2 3338.1 3364.5 3546.4 3729.4 3891.9 3

 4 FA106902501 Nonfinancial corporate business 8059.5 8374.5 8787.3 9129.2 9222.7 9635.8 10100.8 10458.2 4

 5 FA796902505 Financial business 1199.9 1169.7 1316.2 1388.4 1489.8 1570.9 1693.6 1717.1 5

 6 FA316902505 Federal government 719.0 711.0 723.1 737.3 749.5 768.8 796.2 820.0 6

 7 FA216902505 State and local government 1463.0 1526.1 1573.5 1626.7 1661.3 1705.2 1780.4 1846.8 7

 8 FA896006001 Net saving 465.3 541.7 752.8 762.0 524.9 642.5 661.9 567.5 8

 9 FA156006005 Households and nonprofit institutions serving households 1106.6 799.7 971.0 1038.7 975.0 1071.0 1237.3 1231.2 9

10 FA106012005 Nonfinancial corporate business 575.8 641.9 589.1 529.1 429.3 495.4 506.5 468.0 10

11 FA796012005 Financial business 138.4 -2.9 28.0 -29.8 28.9 37.4 63.4 122.9 11

12 FA316006085 Federal government -1072.7 -631.8 -597.4 -560.2 -669.1 -722.4 -931.7 -1047.0 12

13 FA216006005 State and local government -282.8 -265.3 -237.9 -215.8 -239.2 -238.8 -213.7 -207.7 13

 Net capital transfers

14 FA155440005 Households and nonprofit institutions serving households -4.8 20.0 9.3 21.5 14.7 -15.0 9.5 15.4 14

15 FA115440005 Nonfinancial noncorporate business -4.9 -0.0 0.0 0.0 0.0 -9.4 -3.0 0.0 15

16 FA105440005 Nonfinancial corporate business -17.0 -5.7 -6.7 -3.2 2.6 191.5 -6.2 -1.1 16

17 FA795440005 Financial business 9.6 0.0 10.0 0.0 1.8 102.7 16.9 0.0 17

18 FA315440005 Federal government 90.9 64.3 64.9 59.9 60.5 -181.9 59.5 66.1 18

19 FA215440005 State and local government -74.4 -71.6 -70.6 -69.8 -72.6 -71.9 -72.2 -73.8 19

20 FA265440005 Rest of the world 0.6 -7.0 -6.9 -8.4 -7.0 -16.0 -4.5 -6.6 20

21 FA885019005 Gross fixed capital formation 3171.6 3321.9 3562.8 3723.0 3798.4 3999.1 4279.0 4454.9 21

22 FA155019005 Households and nonprofit institutions serving households 524.8 592.0 633.6 706.6 767.7 821.8 866.8 878.0 22

23 FA115019085 Nonfinancial noncorporate business 289.8 320.0 354.1 362.8 374.8 393.0 415.3 431.4 23

24 FA105019085 Nonfinancial corporate business 1542.8 1606.5 1753.8 1789.5 1759.7 1864.3 2020.4 2104.6 24

25 FA795013005 Financial business (nonresidential) 193.2 203.0 218.7 241.5 257.8 255.6 272.6 288.0 25

26 FA315019001 Federal government 287.3 269.6 263.8 266.6 268.1 278.7 295.9 321.9 26

27 FA215019001 State and local government 333.7 330.8 338.8 356.0 370.4 385.6 407.9 431.0 27

28 FA886300095 Consumption of fixed capital 2576.0 2681.2 2815.0 2911.4 2986.6 3112.9 3265.0 3420.9 28

29 FA156300003 Households and nonprofit institutions serving households 412.0 437.8 467.3 485.4 508.9 537.8 574.0 599.0 29

30 FA116300001 Nonfinancial noncorporate business 267.3 277.2 291.6 302.2 309.9 321.8 336.3 349.8 30

31 FA106300003 Nonfinancial corporate business 1230.6 1279.7 1349.2 1401.7 1429.3 1489.3 1557.1 1639.2 31

32 FA796300081 Financial business (nonresidential) 172.5 181.8 190.3 199.2 210.3 220.7 231.5 244.6 32

33 FA316300001 Federal government 261.6 265.9 270.2 271.5 271.8 277.0 285.8 294.8 33

34 FA216300001 State and local government 232.0 238.8 246.3 251.4 256.5 266.2 280.3 293.5 34

35 FA145020005 Change in inventories 71.2 104.5 84.0 136.8 28.4 16.3 57.7 49.1 35

36 FA115020005 Nonfinancial noncorporate business -2.3 21.4 9.6 19.9 0.5 -0.7 4.4 -1.5 36

37 FA105020005 Nonfinancial corporate business 73.5 83.1 74.3 116.9 27.8 17.1 53.4 50.5 37

38 FA885000985 Net lending (+) or net borrowing (-) (capital account) -201.0 -210.5 -85.8 -194.7 -322.3 -276.1 -414.4 -522.3 38

39 FA155000905 Households and nonprofit institutions serving households 1007.8 634.8 804.9 806.5 712.5 814.0 948.2 950.5 39

40 FA115000905 Nonfinancial noncorporate business -15.2 -64.2 -72.1 -80.5 -65.4 -61.1 -80.4 -80.2 40

41 FA105000905 Nonfinancial corporate business 206.7 236.4 115.3 -1.8 61.1 -88.3 -1.8 -46.4 41

42 FA795000905 Financial business 108.1 -24.0 -10.4 -72.0 -20.5 -100.2 5.5 79.5 42

43 FA315000905 Federal government -1187.3 -697.3 -653.2 -584.4 -717.0 -540.0 -1000.6 -1137.4 43

44 FA215000905 State and local government -321.1 -296.0 -270.3 -262.4 -293.0 -300.5 -285.3 -288.3 44

 Addendum:

45 FA087005005 Statistical discrepancy (NIPA) -239.8 -156.9 -286.6 -237.3 -92.2 -131.4 -58.0 12.8 45

46 FA265000905 Rest of the world 440.8 367.4 372.5 432.0 414.5 407.5 472.4 509.5 46

47 FA885000005 Net lending (+) or net borrowing (-) (financial account) -692.0 66.1 -200.2 431.9 -373.3 354.0 -93.1 -39.9 47

48 FA155000005 Households and nonprofit institutions serving households 1190.9 688.2 1203.8 1096.1 414.4 860.9 1137.9 1801.7 48

49 FA115000005 Nonfinancial noncorporate business -15.2 -64.2 -72.1 -80.5 -65.4 -61.1 -80.4 -80.2 49

50 FA105000005 Nonfinancial corporate business -391.3 55.0 -311.2 -86.5 75.8 74.8 -115.7 -510.3 50

51 FA795000005 Financial business -38.4 137.0 -70.6 170.3 28.4 224.5 174.4 164.7 51

52 FA315000005 Federal government -1169.7 -508.2 -733.0 -519.3 -676.7 -479.4 -955.8 -1107.8 52

53 FA215000005 State and local government -268.2 -241.8 -217.1 -148.2 -149.9 -265.7 -253.6 -308.0 53

 Addendum:

54 FA265000005 Rest of the world 468.7 342.6 240.6 331.7 404.6 329.3 307.9 213.9 54

 Total other volume changes

55 FV158090185 Households and nonprofit institutions serving households 304.7 1318.3 843.5 531.1 98.0 338.7 454.3 1552.2 55

56 FV118090105 Nonfinancial noncorporate business 8.2 146.6 67.2 132.8 -217.1 67.7 -39.2 15.1 56

57 FV108090105 Nonfinancial corporate business -1106.7 -1152.8 -306.5 221.7 -173.1 -1099.5 1678.4 -1768.2 57

58 FV798090185 Financial business 299.5 100.5 -224.3 272.3 203.6 -90.0 270.9 -378.2 58

59 FV318090185 Federal government -0.6 180.8 -51.6 121.9 79.7 -120.4 71.1 194.9 59

60 FV218090185 State and local government 114.2 -709.2 -61.2 16.0 58.5 -11.6 -1.4 -49.3 60

61 FV268090185 Rest of the world 39.3 40.6 -193.3 -90.1 -85.3 -93.8 212.6 -317.0 61

 Holding gains/losses

62 FR158200095 Households and nonprofit institutions serving households 3751.7 6670.2 4276.8 1544.6 4253.3 7565.9 -1017.1 10044.5 62

63 FR112010005 Nonfinancial noncorporate business 663.4 903.6 604.6 568.2 565.6 808.9 500.8 732.0 63

64 FR108200005 Nonfinancial corporate business -1149.6 -3474.8 -2334.2 831.1 -1592.1 -2743.7 1072.5 -6338.4 64

65 FR798200005 Financial business -529.4 -1684.8 -1.9 -344.2 -691.3 -575.2 169.2 -282.6 65

66 FR318200005 Federal government 35.0 74.2 48.5 6.0 67.9 90.2 101.1 54.9 66

67 FR218200005 State and local government 527.4 785.7 331.8 -23.8 381.8 842.7 270.8 1007.1 67

68 FR265000005 Rest of the world -455.7 361.0 1415.1 128.2 415.0 -854.6 1227.5 1066.0 68
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

 Change in net worth

69 FC152090005 Households and nonprofit institutions serving households 5167.8 8768.3 6081.9 3092.9 5311.6 8990.6 665.0 12812.5 69

70 FC112090205 Nonfinancial noncorporate business 676.0 1044.0 672.2 698.9 341.7 883.0 457.1 776.6 70

71 FC102090085 Nonfinancial corporate business -1663.6 -3980.0 -2044.9 1585.1 -1338.6 -3539.4 3263.6 -7637.5 71

72 FC792090095 Financial business -101.1 -1587.2 -208.3 -101.7 -460.6 -730.4 486.7 -537.8 72

73 FC312090095 Federal government -1129.2 -441.0 -665.4 -492.2 -582.1 -570.8 -819.1 -863.3 73

74 FC212090095 State and local government 433.2 -117.2 103.3 -153.8 273.7 664.2 127.9 823.8 74

75 FC262090095 Rest of the world 24.4 769.0 1594.2 470.1 744.1 -540.9 1912.5 1258.4 75

 Net worth

76 FL152090005 Households and nonprofit institutions serving households 72854.0 81622.2 87704.2 90797.1 96108.7 105099.3 105764.2 118576.7 76

77 LM112090205 Nonfinancial noncorporate business 7381.3 8425.3 9097.5 9796.5 10138.2 11021.1 11478.3 12254.9 77

78 FL102090085 Nonfinancial corporate business -4557.2 -8537.3 -10582.2 -8997.1 -10335.6 -13875.0 -10611.4 -18248.8 78

79 FL792090095 Financial business 863.6 -723.5 -931.8 -1033.5 -1494.1 -2224.5 -1737.9 -2275.7 79

80 FL312090095 Federal government -10551.5 -10992.5 -11657.9 -12150.1 -12732.2 -13302.9 -14122.0 -14985.3 80

81 FL212090095 State and local government 5223.9 5106.8 5210.1 5056.3 5330.1 5994.3 6122.1 6945.9 81

82 FL262090095 Rest of the world 4315.5 5084.5 6678.7 7148.8 7892.9 7352.0 9264.5 10523.0 82
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Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

 Current account

 1 FA156902505 Gross value added 2018.4 2075.0 2158.8 2255.9 2349.4 2447.3 2569.5 2686.3 1

 2 FA156300003 Less: Consumption of fixed capital 412.0 437.8 467.3 485.4 508.9 537.8 574.0 599.0 2

 3 FA156902605 Equals: Net value added 1606.4 1637.2 1691.5 1770.5 1840.5 1909.5 1995.5 2087.3 3

 4 FA156025005 Compensation paid by households and NPISHs 758.8 780.0 812.2 852.7 888.5 919.0 964.3 1007.4 4

 5 FA156020001 Wages and salaries 624.5 641.7 669.4 704.9 730.6 760.6 796.0 832.2 5

 6 FA156401001 Employers’ social contributions 134.3 138.3 142.8 147.8 157.9 158.4 168.3 175.2 6

 7 FA156240101 Taxes on production and imports less subsidies 155.2 159.0 165.7 171.3 178.3 185.1 191.5 196.9 7

 8 FA156402101 Operating surplus, net 692.4 698.2 713.5 746.5 773.8 805.4 839.7 883.0 8

 9 FA156140005 Net national income/Balance of primary incomes, net 12374.7 12645.2 13369.1 13985.6 14352.6 15096.1 15905.7 16487.8 9

10 FA156402101 Operating surplus, net 692.4 698.2 713.5 746.5 773.8 805.4 839.7 883.0 10

11 FA156025105 Compensation of employees (received) 8566.7 8834.2 9249.1 9699.4 9963.9 10422.5 10950.1 11432.4 11

12 FA156020101 Wages and salaries 6927.5 7113.2 7475.2 7859.5 8089.1 8471.5 8894.2 9309.3 12

13 FA156401101 Employers’ social contributions 1639.2 1721.0 1773.9 1839.9 1874.7 1951.1 2055.9 2123.1 13

14 FA156150105 Property income (received) 3669.7 3631.6 3932.0 4087.2 4170.9 4447.2 4739.2 4838.0 14

15 FA156130101 Interest 1331.9 1274.4 1350.6 1440.6 1475.7 1579.0 1643.0 1678.9 15

16 FA156120105 Distributed income of corporations 2337.8 2357.2 2581.5 2646.6 2695.2 2868.2 3096.2 3159.1 16

17 FA156121101 Dividends 835.1 793.3 953.2 1033.1 1077.4 1160.8 1305.1 1290.4 17

18 FA156122101 Withdrawals from income of quasi-corporations (1) 1502.7 1563.9 1628.3 1613.6 1617.7 1707.4 1791.2 1868.6 18

19 FA156130001 Less: Uses of property income (interest paid) 554.1 518.9 525.6 547.6 555.9 579.1 623.3 665.6 19

20 FA156140005 Net national income/Balance of primary incomes, net 12374.7 12645.2 13369.1 13985.6 14352.6 15096.1 15905.7 16487.8 20

21 FA156220001 Less: Current taxes on income, wealth, etc. (paid) 1509.5 1676.4 1784.6 1939.9 1957.9 2046.7 2085.3 2202.9 21

22 FA156404105 Plus: Social benefits (received) 2322.6 2385.9 2498.6 2635.1 2717.1 2806.2 2922.9 3078.0 22

23 FA156600001 Less: Social contributions (paid) 950.5 1104.3 1153.6 1204.7 1239.1 1298.4 1360.4 1418.8 23

24 FA156403101 Plus: Other current transfers (received) 40.4 38.4 42.9 50.3 59.7 48.8 47.4 47.2 24

25 FA156403001 Less: Other current transfers (paid) 164.3 172.0 178.8 190.1 187.4 194.7 199.7 215.5 25

26 FA156012095 Equals: Disposable income, net 12113.4 12116.9 12793.7 13336.2 13745.0 14411.3 15230.6 15775.8 26

27 FA156901001 Less: Final consumption expenditures 11006.8 11317.2 11822.8 12297.5 12770.0 13340.4 13993.3 14544.6 27

28 FA156006005 Equals: Net saving 1106.6 799.7 971.0 1038.7 975.0 1071.0 1237.3 1231.2 28

 Capital account

29 FA156006315 Net saving less capital transfers 1111.4 779.7 961.6 1017.2 960.4 1086.0 1227.8 1215.8 29

30 FA156006005 Net saving 1106.6 799.7 971.0 1038.7 975.0 1071.0 1237.3 1231.2 30

31 FA155440005 Less: Capital transfers paid (net) -4.8 20.0 9.3 21.5 14.7 -15.0 9.5 15.4 31

32 FA155050905 Capital formation, net 103.6 144.9 156.7 210.8 247.9 272.0 279.6 265.4 32

33 FA155019005 Gross fixed capital formation, excluding consumer durables 524.8 592.0 633.6 706.6 767.7 821.8 866.8 878.0 33

34 FA155012005 Residential 358.0 423.9 463.9 523.8 577.6 631.4 663.5 668.4 34

35 FA165013005 Nonresidential (nonprofit organizations) 166.7 168.0 169.7 182.8 190.1 190.5 203.3 209.6 35

36 FA156300003 Less: Consumption of fixed capital 412.0 437.8 467.3 485.4 508.9 537.8 574.0 599.0 36

37 FA155420003 Acquisition of nonproduced nonfinancial assets -9.1 -9.3 -9.5 -10.4 -11.0 -12.0 -13.2 -13.6 37

38 FA155000905 Net lending (+) or borrowing (-), capital account (lines 29-32) 1007.8 634.8 804.9 806.5 712.5 814.0 948.2 950.5 38

 Financial account

39 FA155000905 Net lending (+) or borrowing (-) (line 38) 1007.8 634.8 804.9 806.5 712.5 814.0 948.2 950.5 39

40 FA154090005 Net acquisition of financial assets 1273.7 996.8 1400.1 1429.5 857.3 1419.6 1640.0 2318.2 40

41 FA154000005 Currency and deposits 489.2 387.0 483.2 598.8 590.9 381.3 305.6 549.0 41

42 FA153020005 Currency and transferable deposits 125.6 193.9 -5.2 105.9 -78.6 177.4 -95.0 19.2 42

43 FA153030005 Time and savings deposits 371.4 190.5 494.8 506.7 675.1 191.0 397.8 530.8 43

44 FA153091003 Foreign deposits -7.9 2.6 -6.4 -13.8 -5.6 12.9 2.9 -1.0 44

45 FA313131003 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 FA154022005 Debt securities 25.1 -729.2 -55.2 220.5 -75.3 -46.1 894.4 385.8 46

47 FA153061105 Treasury securities 144.6 -157.6 -189.1 315.3 102.1 -40.5 617.4 267.3 47

48 FA153061705 Agency- and GSE-backed securities (2) -71.6 -142.6 113.9 184.3 -95.2 57.4 193.0 105.4 48

49 FA153062005 Municipal securities -114.2 -43.3 -52.6 -39.9 11.4 -37.5 -10.2 -51.4 49

50 FA153063005 Corporate and foreign bonds 66.4 -385.6 72.7 -239.2 -93.7 -25.6 94.3 64.5 50

51 FA154023005 Loans 18.6 55.5 38.0 -70.8 -12.0 -70.0 -20.8 8.0 51

52 FA154041005 Short term 31.5 59.0 46.2 -56.0 -5.0 -59.8 -7.9 18.6 52

53 FA153065005 Long term (mortgages) -12.9 -3.5 -8.2 -14.8 -7.0 -10.1 -12.9 -10.6 53

54 FA153081005 Equity and investment fund shares 216.6 677.6 501.2 187.1 -68.5 589.3 67.0 890.1 54

55 FA153064105 Corporate equities -134.7 301.3 236.9 -26.8 73.6 128.5 -115.5 84.3 55

56 FA153064205 Mutual fund shares 329.5 231.4 219.4 97.5 52.2 309.1 21.9 378.2 56

57 FA153034005 Money market fund shares 5.1 2.0 -23.9 -16.9 7.3 59.4 178.1 408.3 57

58 FA152090205 Equity in noncorporate business 20.2 144.7 68.7 133.2 -201.6 92.2 -17.4 19.3 58

59 FA153094305 Equity investment under Public-Private Inv. Program (3) -3.4 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 59
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60 FA153052005 Insurance, pension and standardized guarantee schemes 515.2 600.2 405.4 493.7 419.0 553.8 387.1 477.7 60

61 FA153076005 Insurance receivables due from property-casualty insurance companies -7.7 32.3 -4.3 26.3 31.1 31.6 17.9 12.0 61

62 FA153040005 Life insurance reserves -14.4 20.9 49.8 47.2 41.8 19.0 49.4 16.7 62

63 FA153050005 Pension entitlements (4) 519.2 524.1 337.7 407.2 320.5 480.6 285.5 419.2 63

64 FA153095105 Non-life insurance reserves at life insurance companies 4.6 10.7 11.9 5.6 12.8 13.1 20.3 15.4 64

65 FA313195105 Retiree Health Care Funds 13.3 12.2 10.4 7.4 12.9 9.6 13.9 14.4 65

66 FA163070005 Other accounts receivable (trade receivables) 9.0 5.6 27.5 0.2 3.2 11.2 6.7 7.6 66

67 FA154190005 Net incurrence of liabilities 82.8 308.6 196.2 333.4 442.9 558.6 502.1 516.5 67

68 FA163162003 Debt securities (municipals) -14.1 -13.6 -6.5 -8.1 -2.9 1.6 -2.3 -3.2 68

69 FA154123005 Loans 89.1 324.8 174.9 320.5 438.0 548.8 493.4 510.1 69

70 FA154141005 Short term 187.4 327.7 173.1 190.6 229.6 259.3 194.4 215.1 70

71 FA153166000 Consumer credit 158.8 177.7 221.0 235.0 230.1 192.3 181.5 182.4 71

72 FA153168005 Depository institution loans n.e.c. -6.7 10.2 19.8 31.5 10.6 7.9 37.8 7.8 72

73 FA153169005 Other loans and advances 35.2 139.7 -67.7 -76.0 -11.2 59.2 -24.9 24.9 73

74 FA153165005 Long term (mortgages) -98.3 -2.9 1.8 130.0 208.4 289.5 299.0 295.0 74

75 FA543077073 Insurance, pension and standardized guarantee schemes 0.6 3.0 1.2 1.7 -0.3 1.8 1.9 1.5 75

76 FA163170005 Other accounts payable (trade debt) 7.2 -5.6 26.7 19.2 8.2 6.4 9.1 8.1 76

 Addendum:

77 FA155000005 Net lending (+) or borrowing (-), financial account (lines 40-67) 1190.9 688.2 1203.8 1096.1 414.4 860.9 1137.9 1801.7 77

 Other changes in volume account

78 FV158090185 Total other volume changes 304.7 1318.3 843.5 531.1 98.0 338.7 454.3 1552.2 78

79 FU155111005 Net investment in consumer durable goods 127.0 147.0 180.4 209.9 222.0 245.0 269.2 270.6 79

80 FV152010005 Disaster losses -20.9 0.0 0.0 0.0 0.0 -55.2 -29.7 0.0 80

81 FV158090085 Other volume changes 15.5 1117.9 264.2 31.5 174.1 102.1 25.1 430.3 81

82 FU157005045 Less: Statistical discrepancy (lines 38-77) (5) -183.1 -53.4 -398.9 -289.7 298.1 -46.9 -189.7 -851.3 82

 Revaluation account

83 FR152010085 Nonfinancial assets 466.7 1878.1 1314.4 1524.7 1607.4 1825.3 1400.9 1544.1 83

84 FR155035005 Real estate 513.9 1973.8 1416.9 1591.5 1683.3 1920.4 1448.2 1587.0 84

85 FR165015205 Equipment -3.8 -3.7 -2.7 -2.7 -2.7 -1.3 -0.9 -2.8 85

86 FR165013765 Intellectual property products 0.8 3.0 0.8 -1.9 1.6 3.2 3.3 2.0 86

87 FR155111005 Consumer durable goods -44.2 -94.9 -100.6 -62.2 -74.9 -97.0 -49.7 -42.1 87

88 FR158080095 Financial assets 3284.9 4792.2 2962.4 20.0 2646.0 5740.5 -2418.0 8500.4 88

89 FR154022005 Debt securities 140.2 -359.5 212.3 -102.9 -29.9 68.2 -120.6 279.5 89

90 FR153064105 Corporate equities 1397.7 2480.3 1511.4 -83.6 1358.7 2769.5 -1603.5 4398.6 90

91 FR153064205 Mutual fund shares 535.8 817.8 246.9 -202.1 293.8 1039.2 -670.9 1504.0 91

92 FR152090205 Equity in noncorporate business 667.8 897.4 605.0 566.1 558.8 815.3 496.3 761.6 92

93 FR153094305 Equity investment under Public-Private Inv. Program -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 93

94 FR153052045 Insurance, pension and standardized guarantee schemes 543.5 956.2 386.9 -157.6 464.5 1048.4 -519.3 1556.7 94

95 FR158200095 Changes in net worth due to nominal holding gains/losses 3751.7 6670.2 4276.8 1544.6 4253.3 7565.9 -1017.1 10044.5 95

 Changes in balance sheet account

96 FC152090005 Change in net worth (lines 32+38+78+95) 5167.8 8768.3 6081.9 3092.9 5311.6 8990.6 665.0 12812.5 96

 Balance sheet account (end of period)

97 FL152000005 Total assets 86749.5 95738.1 101971.4 105240.8 110965.3 120488.8 121640.9 134954.1 97

98 LM152010005 Nonfinancial assets 25816.3 27984.8 29633.9 31576.8 33650.1 35934.4 37849.3 39926.3 98

99 LM155035005 Real estate 20627.9 22713.7 24258.0 26028.4 27928.1 30039.9 31705.0 33526.7 99

100 LM155111005 Consumer durable goods 4727.5 4779.6 4859.3 5007.0 5154.1 5302.1 5521.7 5750.1 100

101 LM165015205 Equipment 326.9 346.1 364.1 383.8 402.0 417.5 438.6 457.0 101

102 LM165013765 Intellectual property products 134.0 145.4 152.4 157.5 165.9 174.9 184.1 192.5 102

103 FL154090005 Financial assets 60933.2 67753.4 72337.5 73664.0 77315.2 84554.4 83791.6 95027.8 103

104 FL154000005 Currency and deposits 8094.6 8481.6 9027.7 9641.8 10222.0 10567.9 10873.0 11435.0 104

105 FL153020005 Currency and transferable deposits 910.9 1104.8 1099.6 1207.1 1117.6 1295.0 1200.0 1230.1 105

106 LM153091003 Foreign deposits 49.5 52.1 45.7 31.9 26.3 39.1 42.0 41.0 106

107 FL153030005 Time and savings deposits 7134.2 7324.8 7882.4 8402.8 9078.2 9233.8 9631.0 10164.0 107

108 FL313131003 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 108
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109 LM154022005 Debt securities 5667.6 4507.2 4702.8 4607.1 4413.6 4467.6 5208.9 5801.1 109

110 LM153061105 Treasury securities 1083.1 841.9 718.5 1017.3 1094.0 1132.4 1708.8 2080.8 110

111 LM153061705 Agency- and GSE-backed securities (2) 319.4 192.8 296.7 483.7 390.3 451.9 631.1 736.1 111

112 LM153062005 Municipal securities 2023.4 1845.2 1942.5 1905.5 1881.9 1892.5 1863.1 1900.3 112

113 LM153063005 Corporate and foreign bonds 2241.7 1627.2 1745.1 1200.6 1047.3 990.8 1005.9 1083.9 113

114 FL154023005 Loans 962.2 1017.7 1055.7 984.9 972.9 903.0 882.1 890.1 114

115 FL154041005 Short term 837.0 896.0 942.2 886.2 881.2 821.4 813.4 832.1 115

116 FL153065005 Long term (mortgages) 125.2 121.7 113.5 98.7 91.7 81.6 68.7 58.0 116

117 FL153081005 Equity and investment fund shares 23947.2 28825.1 31692.3 32164.7 34451.0 39640.7 37917.5 45868.7 117

118 LM153064105 Corporate equities 9386.7 12168.3 13916.6 13806.2 15380.1 18278.2 16559.2 21287.4 118

119 LM153064205 Mutual fund shares 5549.7 6598.8 7065.1 6960.6 7306.5 8654.8 8005.8 10038.6 119

120 FL153034005 Money market fund shares 1589.9 1591.9 1568.0 1551.1 1558.4 1617.9 1795.9 2204.3 120

121 LM152090205 Equity in noncorporate business 7419.2 8466.1 9142.7 9846.9 10205.9 11089.8 11556.5 12338.4 121

122 LM153094305 Equity investment under Public-Private Inv. Program (3) 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 FL153052005 Insurance, pension and standardized guarantee schemes 22054.1 24708.5 25618.3 26024.5 27011.5 28719.8 28648.1 30763.2 123

124 FL153076005 Insurance receivables due from property-casualty insurance companies 457.1 489.4 485.1 511.4 542.4 574.0 591.9 603.9 124

125 FL153040005 Life insurance reserves 1352.6 1407.8 1472.1 1510.9 1568.1 1626.6 1659.1 1731.3 125

126 FL153050005 Pension entitlements (4) 19731.8 22275.9 23103.4 23431.6 24304.6 25900.2 25743.9 27745.0 126

127 FL153095105 Non-life insurance reserves at life insurance companies 277.9 288.6 300.4 306.0 318.8 331.8 352.2 367.6 127

128 FL313195105 Retiree Health Care Funds 234.8 246.9 257.3 264.7 277.6 287.1 301.0 315.4 128

129 FL163070005 Other accounts receivable (trade receivables) 207.6 213.2 240.7 241.0 244.2 255.4 262.1 269.7 129

130 FL152100005 Total liabilities and net worth 86749.5 95738.1 101971.4 105240.8 110965.3 120488.8 121640.9 134954.1 130

131 FL154190005 Liabilities 13895.6 14115.9 14267.2 14443.7 14856.6 15389.5 15876.7 16377.4 131

132 FL163162003 Debt securities (municipals) 248.2 234.6 228.1 220.0 217.0 218.7 216.4 213.2 132

133 FL154123005 Loans 13320.6 13557.2 13687.2 13850.8 14258.8 14781.9 15260.3 15754.6 133

134 FL154141005 Short term 3570.8 3898.5 4071.6 4119.2 4348.8 4608.1 4806.1 5021.2 134

135 FL153166000 Consumer credit 2913.2 3090.9 3311.9 3390.6 3620.8 3813.0 3998.1 4180.6 135

136 FL153168005 Depository institution loans n.e.c. 205.7 216.0 235.8 280.6 291.3 299.1 337.0 344.8 136

137 FL153169005 Other loans and advances 451.9 591.6 523.9 447.9 436.7 495.9 471.0 495.9 137

138 FL153165005 Long term (mortgages) 9749.8 9658.7 9615.6 9731.6 9910.0 10173.8 10454.2 10733.3 138

139 FL543077073 Insurance, pension and standardized guarantee schemes 25.7 28.7 29.9 31.6 31.3 33.1 35.0 36.5 139

140 FL163170005 Other accounts payable (trade debt) 301.0 295.4 322.1 341.3 349.5 355.9 365.0 373.1 140

141 FL152090005 Net worth 72854.0 81622.2 87704.2 90797.1 96108.7 105099.3 105764.2 118576.7 141

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
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 Current account

 1 FA116902505 Gross value added 2977.1 3085.5 3255.2 3338.1 3364.5 3546.4 3729.4 3891.9 1

 2 FA116300001 Less: Consumption of fixed capital 267.3 277.2 291.6 302.2 309.9 321.8 336.3 349.8 2

 3 FA116902605 Equals: Net value added 2709.8 2808.3 2963.6 3035.9 3054.6 3224.7 3393.0 3542.1 3

 4 FA116025001 Compensation of employees (paid) 874.4 905.9 949.3 1002.2 1035.7 1086.7 1143.2 1199.5 4

 5 FA116020001 Wages and salaries 737.3 758.9 800.2 847.2 877.0 920.3 967.0 1016.6 5

 6 FA116401005 Employers’ social contributions 137.1 147.0 149.0 155.0 158.7 166.4 176.2 183.0 6

 7 FA116240101 Taxes on production and imports less subsidies 171.2 170.7 186.0 206.8 209.8 224.3 234.5 237.2 7

 8 FA116402105 Operating surplus, net 1664.2 1731.7 1828.2 1827.0 1809.1 1913.7 2015.3 2105.4 8

 9 FA116140001 Net national income/Balance of primary incomes, net 24.4 24.4 26.1 23.0 19.0 27.3 24.8 21.3 9

10 FA116402105 Operating surplus, net 1664.2 1731.7 1828.2 1827.0 1809.1 1913.7 2015.3 2105.4 10

11 FA116130101 Property income (interest received) 19.0 18.1 24.4 24.6 19.7 21.4 23.6 24.4 11

12 FA116150005 Less: Uses of property income (paid) 1658.7 1725.4 1826.6 1828.5 1809.8 1907.7 2014.0 2108.6 12

13 FA116130001 Interest 226.6 215.6 221.0 228.7 238.9 259.3 262.8 279.9 13

14 FA116122001 Withdrawals from income of quasi-corporations (2) 1431.9 1509.6 1605.4 1599.6 1570.6 1648.2 1750.4 1827.8 14

15 FA113192281 Reinvested earnings on foreign direct investment 0.2 0.2 0.2 0.2 0.3 0.3 0.8 0.9 15

16 FA116112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 FA116140001 Net national income/Balance of primary incomes, net 24.4 24.4 26.1 23.0 19.0 27.3 24.8 21.3 17

18 FA116403001 Less: Other current transfers (paid) 24.4 24.4 26.1 23.0 19.0 27.3 24.8 21.3 18

19 FA116012005 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA116012005 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 FA116006305 Net saving less capital transfers 4.9 0.0 -0.0 0.0 0.0 9.4 3.0 0.0 21

22 FA116012005 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA115440005 Less: Capital transfers paid (net) -4.9 -0.0 0.0 0.0 0.0 -9.4 -3.0 0.0 23

24 FA115050985 Capital formation, net 20.2 64.2 72.1 80.5 65.4 70.5 83.4 80.2 24

25 FA115019085 Gross fixed capital formation 289.8 320.0 354.1 362.8 374.8 393.0 415.3 431.4 25

26 FA115013085 Nonresidential 221.2 240.3 265.1 261.0 262.1 273.7 290.5 303.1 26

27 FA115012005 Residential 68.5 79.7 89.0 101.8 112.7 119.3 124.9 128.3 27

28 FA116300001 Less: Consumption of fixed capital 267.3 277.2 291.6 302.2 309.9 321.8 336.3 349.8 28

29 FA115020005 Change in private inventories -2.3 21.4 9.6 19.9 0.5 -0.7 4.4 -1.5 29

30 FA115000905 Net lending (+) or borrowing (-), capital account (lines 21-24) -15.2 -64.2 -72.1 -80.5 -65.4 -61.1 -80.4 -80.2 30

 Financial account

31 FA115000905 Net lending (+) or borrowing (-) (line 30) -15.2 -64.2 -72.1 -80.5 -65.4 -61.1 -80.4 -80.2 31

32 FA114090005 Net acquisition of financial assets 244.4 266.8 372.5 310.6 383.9 613.7 416.8 367.3 32

33 FA114000005 Currency and deposits 69.5 23.4 85.1 18.6 73.0 117.9 98.4 89.5 33

34 FA113020005 Currency and transferable deposits 19.4 -8.1 69.4 7.4 24.8 26.8 20.2 22.8 34

35 FA113030003 Time and savings deposits 50.1 31.5 15.7 11.3 48.2 91.1 78.2 66.7 35

36 FA114022005 Debt securities 4.8 4.4 -0.4 6.0 2.8 6.9 7.0 1.5 36

37 FA113061003 Treasury securities 4.8 5.7 0.2 5.7 2.0 6.1 6.4 1.4 37

38 FA113062003 Municipal securities -0.0 -1.4 -0.7 0.3 0.9 0.8 0.6 0.1 38

39 FA114023005 Loans -2.4 1.0 -0.4 7.1 -2.0 8.4 3.8 3.2 39

40 FA113066003 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 FA113065005 Long term (mortgages) -2.4 1.0 -0.4 7.1 -2.0 8.4 3.8 3.2 41

42 FA113081005 Equity and investment fund shares 3.2 2.6 3.7 3.0 3.3 11.7 8.0 6.9 42

43 FA113034003 Money market fund shares 3.0 2.0 2.9 2.5 2.6 9.1 7.8 6.7 43

44 FA113092405 Equity in government-sponsored enterprises (3) 0.2 0.6 0.7 0.5 0.7 2.6 0.2 0.3 44

45 FA113076005 Insurance, pension and standardized guarantee schemes (4) 15.7 -26.2 12.7 -10.2 -3.0 4.1 -1.3 10.0 45

46 FA113096005 Other accounts receivable 153.7 261.5 271.9 286.1 309.7 464.8 300.9 256.2 46

47 FA113070005 Trade receivables 6.5 47.3 21.4 -3.6 76.7 55.0 62.8 53.6 47

48 FA113093005 Other (miscellaneous assets) 147.2 214.3 250.5 289.6 232.9 409.7 238.1 202.6 48

49 FA114190005 Net incurrence of liabilities 259.6 331.0 444.7 391.1 449.3 674.8 497.1 447.5 49

50 FA114123005 Loans 175.9 109.5 284.7 251.5 388.4 464.3 333.6 290.5 50

51 FA114141005 Short term 73.9 28.0 96.4 70.3 119.1 132.6 112.1 36.7 51

52 FA113168005 Depository institution loans n.e.c. 63.5 21.6 86.2 64.1 119.1 128.9 103.7 28.9 52

53 FA113169005 Other loans and advances 10.4 6.5 10.2 6.2 -0.0 3.7 8.4 7.8 53

54 FA113165005 Long term (mortgages) 102.0 81.4 188.2 181.1 269.3 331.7 221.5 253.8 54
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55 FA113181005 Equity and investment fund shares 10.5 142.2 66.2 129.8 -216.3 93.7 -5.9 13.8 55

56 FA112090205 Equity in noncorporate business 9.8 141.8 64.4 127.9 -219.0 91.3 -27.0 14.1 56

57 FA115114005 Foreign direct investment in the United States 0.8 0.4 1.8 1.9 2.7 2.4 21.0 -0.3 57

58 FA113196005 Other accounts payable 73.2 79.3 93.8 9.8 277.1 116.8 169.4 143.2 58

59 FA113170005 Trade payables 13.8 34.3 9.0 -16.0 65.8 7.8 74.2 61.9 59

60 FA113178003 Taxes payable 7.6 3.2 6.8 5.2 10.0 4.6 6.4 5.5 60

61 FA113193003 Other (miscellaneous liabilities) 51.8 41.8 77.9 20.7 201.4 104.4 88.9 75.8 61

 Addendum:

62 FA115000005 Net lending (+) or borrowing (-), financial account (lines 32-49) -15.2 -64.2 -72.1 -80.5 -65.4 -61.1 -80.4 -80.2 62

 Other changes in volume account

63 FV118090105 Total other volume changes 8.2 146.6 67.2 132.8 -217.1 67.7 -39.2 15.1 63

64 FV112010005 Disaster losses -8.6 0.0 0.0 0.0 0.0 -25.2 -13.4 0.0 64

65 FV118090085 Other volume changes 16.8 146.6 67.2 132.8 -217.1 92.9 -25.8 15.1 65

 Revaluation account

66 FR112010005 Nonfinancial assets 663.4 903.6 604.6 568.2 565.6 808.9 500.8 732.0 66

67 FR115035005 Real estate 642.8 902.4 584.9 606.3 554.7 757.4 461.4 710.4 67

68 FR115035023 Residential 360.3 463.4 338.6 374.0 386.7 464.4 394.9 405.2 68

69 FR115035035 Nonresidential 282.4 439.0 246.3 232.2 168.1 293.0 66.4 305.2 69

70 FR115015205 Equipment 20.4 11.7 13.9 12.0 19.3 35.9 37.2 19.4 70

71 FR115012265 Residential -0.3 -2.2 -2.9 -1.9 -2.5 -1.4 3.3 -2.5 71

72 FR115013265 Nonresidential 20.7 13.9 16.8 13.9 21.8 37.3 33.9 21.9 72

73 FR115013765 Intellectual property products 0.9 4.7 1.8 -0.1 2.8 5.2 4.3 4.0 73

74 FR115020005 Inventories -0.5 -15.2 4.0 -49.9 -11.2 10.3 -2.1 -1.8 74

75 FR114022005 Financial assets (debt securities) -0.6 -3.8 2.1 -1.0 -1.0 0.1 -1.2 3.5 75

76 FR115114005 Liabilities (direct investment in the U.S.) -0.0 2.3 1.8 1.1 5.8 3.1 6.3 -26.1 76

77 FR118200005 Changes in net worth due to nominal holding gains/losses 662.9 897.4 605.0 566.1 558.8 805.9 493.3 761.6 77

 Changes in balance sheet account

78 FC112090205 Change in net worth (lines 24+30+63+77) 676.0 1044.0 672.2 698.9 341.7 883.0 457.1 776.6 78

 Balance sheet account (end of period)

79 FL112000005 Total assets 13269.0 14499.7 15551.1 16509.4 17523.3 18991.3 19977.6 21160.6 79

80 LM112010005 Nonfinancial assets 9758.5 10726.3 11403.1 12051.8 12682.8 13536.9 14107.7 14919.9 80

81 LM115035005 Real estate 8538.4 9462.6 10088.1 10762.4 11424.0 12231.7 12673.0 13209.5 81

82 LM115035023 Residential (5) 4804.5 5267.4 5610.6 5998.1 6405.3 6869.2 7273.0 7700.1 82

83 LM115035035 Nonresidential 3749.6 4210.6 4489.2 4760.0 4971.2 5321.1 5435.3 5787.0 83

84 LM115015205 Equipment 731.8 757.1 788.2 799.7 809.5 827.8 863.5 884.2 84

85 LM115012265 Residential 47.4 47.4 47.0 47.9 48.5 50.3 56.5 56.7 85

86 LM115013265 Nonresidential 684.4 709.7 741.2 751.8 761.0 777.5 807.0 827.5 86

87 LM115013765 Intellectual property products 201.7 214.0 224.4 233.3 246.7 259.1 273.9 289.9 87

88 LM115020005 Inventories 270.9 277.1 290.7 260.8 250.1 259.7 262.0 258.7 88

89 FL114090005 Financial assets 3510.5 3773.4 4148.1 4457.6 4840.5 5454.3 5870.0 6240.7 89

90 FL114000005 Currency and deposits 988.1 1011.5 1096.6 1115.2 1188.3 1306.1 1404.6 1494.0 90

91 FL113020005 Currency and transferable deposits 185.8 177.7 247.1 254.5 279.3 306.0 326.2 349.0 91

92 FL113030003 Time and savings deposits 802.3 833.8 849.5 860.8 909.0 1000.1 1078.4 1145.1 92

93 LM114022005 Debt securities 59.0 59.5 61.2 66.2 68.1 75.1 80.9 85.9 93

94 LM113061003 Treasury securities 52.9 55.2 57.2 61.9 63.0 69.0 74.4 79.0 94

95 LM113062003 Municipal securities 6.1 4.4 4.0 4.3 5.1 6.0 6.5 6.9 95

96 FL114023005 Loans 33.9 34.8 34.5 41.5 39.5 48.0 51.7 54.9 96

97 FL113066003 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 97

98 FL113065005 Long term (mortgages) 33.9 34.8 34.5 41.5 39.5 48.0 51.7 54.9 98

99 FL113081005 Equity and investment fund shares 87.8 90.5 94.1 97.1 100.5 112.1 120.1 127.0 99

100 FL113034003 Money market fund shares 80.7 82.7 85.6 88.1 90.7 99.8 107.6 114.2 100

101 FL113092405 Equity in government-sponsored enterprises (3) 7.2 7.8 8.5 9.0 9.8 12.3 12.5 12.8 101

102 FL113076005 Insurance, pension and standardized guarantee schemes (4) 142.9 116.7 129.4 119.3 116.3 120.4 119.0 129.0 102

103 FL113096005 Other accounts receivable 2198.8 2460.3 2732.2 3018.3 3328.0 3792.7 4093.7 4349.8 103

104 FL113070005 Trade receivables 606.1 653.4 674.7 671.2 747.9 802.9 865.8 919.3 104

105 FL113093005 Other (miscellaneous assets) 1592.7 1807.0 2057.5 2347.1 2580.0 2989.8 3227.9 3430.5 105
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Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

106 FL112100005 Total liabilities and net worth 13269.0 14499.7 15551.1 16509.4 17523.3 18991.3 19977.6 21160.6 106

107 FL114190005 Liabilities 5887.7 6074.4 6453.6 6713.0 7385.1 7970.1 8499.4 8905.7 107

108 FL114123005 Loans 4060.4 4165.0 4446.8 4693.4 5080.0 5542.7 5875.1 6164.7 108

109 FL114141005 Short term 1152.9 1180.9 1277.4 1345.7 1464.8 1597.4 1709.5 1746.2 109

110 FL113168005 Depository institution loans n.e.c. 967.4 989.0 1075.2 1139.3 1258.4 1387.3 1491.1 1519.9 110

111 FL113169005 Other loans and advances 185.5 191.9 202.2 206.4 206.3 210.0 218.4 226.3 111

112 FL113165005 Long term (mortgages) 2907.5 2984.1 3169.4 3347.8 3615.2 3945.3 4165.6 4418.5 112

113 LM115114005 Equity and investment fund shares (direct investment in the U.S.) 7.9 10.6 14.2 17.2 25.6 31.2 58.5 32.1 113

114 FL113196005 Other accounts payable 1819.5 1898.8 1992.6 2002.4 2279.5 2396.3 2565.7 2708.9 114

115 FL113170005 Trade payables 492.4 526.8 535.7 519.7 585.5 593.3 667.4 729.3 115

116 FL113178003 Taxes payable 107.4 110.5 117.4 122.5 132.5 137.2 143.6 149.0 116

117 FL113193003 Other (miscellaneous liabilities) 1219.7 1261.5 1339.4 1360.1 1561.5 1665.9 1754.7 1830.5 117

118 LM112090205 Net worth 7381.3 8425.3 9097.5 9796.5 10138.2 11021.1 11478.3 12254.9 118

(1) Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(2) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(3) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(4) Net equity in reserves of property-casualty insurance companies.

(5) Farm houses are included in the household sector.
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Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

 Current account

 1 FA106902501 Gross value added 8059.5 8374.5 8787.3 9129.2 9222.7 9635.8 10100.8 10458.2 1

 2 FA106300003 Less: Consumption of fixed capital 1230.6 1279.7 1349.2 1401.7 1429.3 1489.3 1557.1 1639.2 2

 3 FA106902605 Equals: Net value added 6828.9 7094.8 7438.0 7727.5 7793.4 8146.5 8543.6 8819.0 3

 4 FA106025005 Compensation of employees (paid) 4608.3 4768.1 5026.2 5292.6 5429.6 5703.9 6018.3 6300.9 4

 5 FA106020001 Wages and salaries 3839.2 3968.6 4197.2 4430.6 4558.8 4784.9 5046.1 5294.9 5

 6 FA106401001 Employers’ social contributions 769.1 799.5 829.0 862.0 870.8 919.0 972.2 1006.0 6

 7 FA106240101 Taxes on production and imports less subsidies 695.1 742.0 767.6 772.8 787.3 825.3 873.6 914.7 7

 8 FA106402101 Operating surplus, net 1525.5 1584.7 1644.2 1662.2 1576.6 1617.3 1651.8 1603.5 8

 9 FA106140005 Net national income/Balance of primary incomes, net 903.3 989.7 960.2 907.8 759.8 805.6 786.4 757.5 9

10 FA106402101 Operating surplus, net 1525.5 1584.7 1644.2 1662.2 1576.6 1617.3 1651.8 1603.5 10

11 FA106150105 Property income (received) 533.1 542.2 538.4 544.2 522.4 596.3 897.6 359.1 11

12 FA106130101 Interest 164.2 152.4 149.0 152.0 153.2 166.9 206.8 242.2 12

13 FA106121101 Distributed income of corporations (dividends) 106.9 100.6 102.9 124.9 102.4 102.0 911.1 -43.0 13

14 FA103092201 Reinvested earnings on U.S. direct investment abroad 262.0 289.2 286.4 267.4 266.7 327.3 -220.3 159.9 14

15 FA106150005 Less: Uses of property income (paid) 1155.2 1137.1 1222.4 1298.6 1339.2 1407.9 1763.0 1205.1 15

16 FA106130001 Interest 432.7 410.7 420.1 443.1 465.3 481.4 449.6 465.2 16

17 FA106121001 Distributed income of corporations (dividends) 624.8 632.5 700.5 766.0 793.1 822.8 1170.9 593.6 17

18 FA103192201 Reinvested earnings on foreign direct investment 75.0 72.1 78.9 71.6 65.0 86.4 123.2 126.0 18

19 FA106112001 Rent 22.7 21.9 22.9 17.9 15.8 17.3 19.3 20.3 19

20 FA106140005 Net national income/Balance of primary incomes, net 903.3 989.7 960.2 907.8 759.8 805.6 786.4 757.5 20

21 FA106220001 Less: Current taxes on income, wealth, etc. (paid) 245.4 263.5 290.7 283.2 261.9 224.2 196.4 212.4 21

22 FA106403001 Less: Other current transfers (paid) 82.1 84.3 80.4 95.5 68.6 86.1 83.4 77.1 22

23 FA106012005 Equals: Disposable income, net 575.8 641.9 589.1 529.1 429.3 495.4 506.5 468.0 23

24 FA106012005 Equals: Net saving 575.8 641.9 589.1 529.1 429.3 495.4 506.5 468.0 24

 Capital account

25 FA106006385 Net saving less capital transfers 592.8 647.6 595.8 532.3 426.6 303.9 512.7 469.2 25

26 FA106012005 Net saving 575.8 641.9 589.1 529.1 429.3 495.4 506.5 468.0 26

27 FA105440005 Less: Capital transfers paid (net) -17.0 -5.7 -6.7 -3.2 2.6 191.5 -6.2 -1.1 27

28 FA105050985 Capital formation, net 386.0 411.3 480.5 534.2 365.5 392.2 514.5 515.5 28

 Gross fixed capital formation (acquisition of

29 FA105019085 produced nonfinancial assets) 1542.8 1606.5 1753.8 1789.5 1759.7 1864.3 2020.4 2104.6 29

30 FA106300003 Less: Consumption of fixed capital 1230.6 1279.7 1349.2 1401.7 1429.3 1489.3 1557.1 1639.2 30

31 FA105420095 Acquisition of nonproduced nonfinancial assets 0.2 1.4 1.6 29.5 7.3 0.1 -2.1 -0.4 31

32 FA105020005 Change in private inventories 73.5 83.1 74.3 116.9 27.8 17.1 53.4 50.5 32

33 FA105000905 Net lending (+) or borrowing (-), capital account (lines 25-28) 206.7 236.4 115.3 -1.8 61.1 -88.3 -1.8 -46.4 33

 Financial account

34 FA105000905 Net lending (+) or borrowing (-) (line 33) 206.7 236.4 115.3 -1.8 61.1 -88.3 -1.8 -46.4 34

35 FA104090005 Net acquisition of financial assets 307.2 707.9 673.6 1140.0 951.8 547.7 870.5 751.4 35

36 FA104000005 Currency and deposits 54.6 149.8 19.9 41.3 175.3 95.1 133.6 101.9 36

37 FA103020000 Currency and transferable deposits 39.8 42.1 116.8 49.4 154.1 -16.2 238.0 82.6 37

38 FA103030003 Time and savings deposits 13.7 39.2 -87.6 10.9 17.5 -7.7 5.8 8.9 38

39 FA103091003 Foreign deposits 1.1 68.6 -9.3 -19.0 3.7 119.0 -110.3 10.3 39

40 FA104022005 Debt securities -15.8 -4.0 25.7 3.7 -4.1 28.8 19.1 71.5 40

41 FA103069100 Open market paper -11.5 -5.7 25.1 7.8 -6.9 -8.8 38.4 83.1 41

42 FA103061103 Treasury securities -2.8 1.7 1.6 -3.8 4.2 30.1 -15.6 -8.7 42

43 FA103061703 Agency- and GSE-backed securities (2) -1.3 0.3 0.6 -1.3 1.3 10.0 -5.5 -2.8 43

44 FA103062003 Municipal securities -0.2 -0.2 -1.6 1.0 -2.7 -2.5 1.7 -0.1 44

45 FA104035005 Loans -7.2 -0.1 29.4 37.2 4.1 -47.8 -22.8 -2.2 45

46 FA104041005 Short term (security repos and consumer credit) -5.3 -1.6 27.5 13.7 26.8 -50.2 -24.8 -2.4 46

47 FA103065003 Long term (mortgages) -1.9 1.6 1.9 23.5 -22.8 2.4 2.0 0.1 47

48 FA103081005 Equity and investment fund shares 278.6 353.9 416.4 250.4 193.7 277.4 -236.5 174.3 48

49 FA103034000 Money market fund shares -10.9 30.6 21.9 19.0 -112.5 35.6 -33.4 92.2 49

50 FA103064103 Corporate equities -26.5 9.9 37.3 -42.2 67.2 -89.1 -38.3 0.2 50

51 FA103064203 Mutual fund shares -5.8 2.5 24.0 12.2 -3.3 7.6 -9.8 5.0 51

52 FA103092005 U.S. direct investment abroad 317.9 296.9 317.3 259.1 255.3 310.5 -157.6 77.5 52

53 FA103092405 Equity in government-sponsored enterprises (2) 0.0 0.0 0.1 0.1 0.1 0.3 0.1 0.1 53

54 FA103094105 Investment in finance company subsidiaries 3.9 14.1 15.8 2.2 -13.1 12.5 2.5 -0.6 54
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55 FA103076005 Insurance, pension and standardized guarantee schemes (3) 7.8 -5.9 10.2 2.3 6.6 13.9 11.4 15.0 55

56 FA103096005 Other accounts receivable -10.8 214.2 171.9 805.0 576.4 180.4 965.8 390.9 56

57 FA103070005 Trade receivables 55.3 268.2 107.5 33.3 198.8 160.9 396.4 81.2 57

58 FA103093005 Other (miscellaneous assets) -66.1 -54.0 64.4 771.7 377.6 19.5 569.4 309.7 58

59 FA104194005 Net incurrence of liabilities and equity 698.5 652.9 984.7 1226.5 876.0 472.9 986.2 1261.7 59

60 FA104122005 Debt securities 353.4 294.5 326.5 411.9 286.4 320.8 138.8 259.7 60

61 FA103169100 Open market paper 14.0 14.2 37.5 -3.0 1.8 25.9 -10.2 -1.9 61

62 FA103162000 Municipal securities 12.0 1.0 -0.7 12.9 17.0 13.3 -4.2 14.2 62

63 FA103163003 Corporate bonds 327.4 279.3 289.7 402.0 267.6 281.6 153.2 247.4 63

64 FA104123005 Loans 24.3 99.4 145.7 187.6 18.5 60.8 133.9 196.3 64

65 FA104141005 Short term 120.9 91.5 163.4 95.8 12.3 100.0 74.2 149.5 65

66 FA103168005 Depository institution loans n.e.c. 101.0 53.6 98.4 101.6 1.2 -47.7 70.0 20.7 66

67 FA103169005 Other loans and advances 19.9 37.8 65.0 -5.8 11.1 147.7 4.2 128.8 67

68 FA103165005 Long term (mortgages) -96.6 7.9 -17.7 91.9 6.2 -39.2 59.7 46.9 68

69 FA103181005 Equity and investment fund shares -110.2 -89.6 -116.5 -37.8 -84.9 -44.1 -363.7 -199.6 69

70 FA103164103 Corporate equities -300.0 -277.3 -301.9 -453.5 -495.9 -325.6 -548.3 -453.2 70

71 FA103192005 Foreign direct investment in the United States 189.8 187.7 185.4 415.7 411.0 281.5 184.5 253.6 71

72 FA103152025 Insurance, pension and standardized guarantee schemes -1.5 123.4 39.4 74.6 64.8 -47.8 45.5 -14.6 72

73 FA573074005 Pension fund contributions payable -12.3 -2.5 -2.9 15.2 8.8 19.2 -34.6 -0.9 73

74 FA573073005 Claim of pension fund on sponsor 10.8 125.9 42.2 59.5 55.9 -67.0 80.1 -13.8 74

75 FA103196005 Other accounts payable 432.3 225.2 589.6 590.1 591.2 183.3 1031.6 1020.0 75

76 FA103170005 Trade payables 68.1 100.5 148.5 24.3 184.2 81.3 320.7 82.9 76

77 FA103178005 Taxes payable 1.4 -9.9 12.2 -21.2 -8.1 211.1 -10.6 -15.5 77

78 FA103193005 Miscellaneous liabilities 362.9 134.6 428.9 587.0 415.1 -109.2 721.5 952.5 78

 Addendum:

79 FA105000005 Net lending (+) or borrowing (-), financial account (lines 35-59) -391.3 55.0 -311.2 -86.5 75.8 74.8 -115.7 -510.3 79

 Other changes in volume account

80 FV108090105 Total other volume changes -1106.7 -1152.8 -306.5 221.7 -173.1 -1099.5 1678.4 -1768.2 80

81 FV102010005 Disaster losses -6.9 0.0 0.0 0.0 0.0 -19.7 -5.5 0.0 81

82 FV108090085 Other volume changes -513.2 -957.1 122.0 362.6 -188.5 -1295.6 1743.1 -1309.5 82

83 FU107005045 Less: Statistical discrepancy (lines 33-79) (4) 598.0 181.3 426.4 84.6 -14.7 -163.1 113.9 464.0 83

84 FU105020601 Less: Inventory valuation adjustment -11.4 14.4 2.1 56.3 -0.7 -52.7 -54.7 -5.3 84

 Revaluation account

85 FR102010005 Nonfinancial assets 447.4 1213.3 647.9 722.7 552.1 995.2 285.1 1013.8 85

86 FR105035005 Real estate 400.8 1186.3 653.6 833.9 505.7 861.5 152.1 968.7 86

87 FR105015205 Equipment 19.3 -23.5 -13.3 -60.7 -23.9 33.9 58.2 8.6 87

88 FR105013765 Intellectual property products 13.9 44.4 20.2 -10.2 28.9 56.1 49.7 42.2 88

89 FR105020015 Inventories 13.5 6.0 -12.7 -40.2 41.4 43.7 25.1 -5.8 89

90 FR108080095 Financial assets 437.2 992.9 -138.4 -387.5 168.9 1329.2 -1269.4 1571.0 90

91 FR104022005 Debt securities 0.2 -4.3 3.3 -0.6 -0.8 0.5 -1.9 3.9 91

92 FR103064103 Corporate equities 125.8 308.8 156.5 -11.7 145.9 325.9 -118.8 517.3 92

93 FR103064203 Mutual fund shares 19.2 28.1 8.6 -6.5 13.3 37.3 -22.2 51.4 93

94 FR103092005 Direct investment abroad 292.0 660.3 -306.8 -368.7 10.5 965.6 -1126.5 998.4 94

95 FR104190085 Liabilities 2034.3 5681.0 2843.6 -495.9 2313.1 5068.1 -2056.9 8923.3 95

96 FR103164103 Corporate equity 2049.1 5275.7 2758.6 -363.6 2178.7 4553.1 -1700.3 7692.8 96

97 FR103192005 Foreign direct investment in the United States 165.0 731.5 237.9 -175.9 276.8 785.2 -508.6 1675.8 97

98 FR103152025 Insurance, pension and standardized guarantee schemes -179.9 -326.1 -152.9 43.6 -142.3 -270.1 152.1 -445.4 98

99 FR108200005 Changes in net worth due to nominal holding gains/losses -1149.6 -3474.8 -2334.2 831.1 -1592.1 -2743.7 1072.5 -6338.4 99

 Changes in balance sheet account

100 FC102090085 Change in net worth (lines 28+33+80+99) (5) -1663.6 -3980.0 -2044.9 1585.1 -1338.6 -3539.4 3263.6 -7637.5 100

 Balance sheet account (end of period)

101 FL102000005 Total assets 29385.9 32006.2 33959.8 36229.5 38227.7 40516.6 42478.7 45692.7 101

102 LM102010005 Nonfinancial assets (6) 16410.7 17990.5 19102.2 20250.6 21138.6 22516.0 23350.6 24842.0 102

103 LM105035005 Real estate 8214.8 9477.6 10270.9 11228.6 11827.4 12772.3 13067.8 14161.8 103

104 LM105015205 Equipment 4191.5 4322.6 4486.1 4594.8 4696.0 4866.3 5108.3 5288.7 104

105 LM105013765 Intellectual property products 1905.1 2016.3 2111.8 2173.4 2291.5 2440.2 2604.2 2771.0 105

106 LM105020015 Inventories 2099.3 2174.0 2233.5 2253.8 2323.7 2437.2 2570.3 2620.4 106
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107 FL104090005 Financial assets 12975.2 14015.7 14857.7 15978.9 17089.1 18000.6 19128.1 20850.8 107

108 FL104000005 Currency and deposits 868.3 1018.1 1038.0 1079.2 1254.5 1349.6 1483.1 1585.0 108

109 FL103020000 Currency and transferable deposits 605.6 647.7 764.4 813.8 967.9 951.7 1189.7 1272.3 109

110 FL103030003 Time and savings deposits 209.1 248.2 160.7 171.6 189.0 181.3 187.2 196.1 110

111 FL103091003 Foreign deposits 53.6 122.2 112.9 93.9 97.6 216.6 106.3 116.6 111

112 LM104022005 Debt securities 187.6 179.4 208.4 211.6 206.7 236.0 253.2 328.7 112

113 FL103069100 Open market paper 112.1 106.5 131.6 139.4 132.5 123.7 162.1 245.2 113

114 LM103061103 Treasury securities 39.4 38.8 41.7 37.4 41.2 71.3 54.4 48.1 114

115 LM103061703 Agency- and GSE-backed securities (2) 13.1 12.9 13.9 12.5 13.7 23.8 18.1 16.0 115

116 LM103062003 Municipal securities 22.9 21.2 21.2 22.3 19.3 17.2 18.5 19.3 116

117 FL104035005 Loans 88.4 88.3 117.7 155.0 159.0 111.2 88.4 86.2 117

118 FL104041005 Short term 62.8 61.2 88.7 102.4 129.2 79.0 54.2 51.8 118

119 FL102051003 Security repurchases 18.3 22.6 50.4 64.6 90.3 39.6 14.6 12.2 119

120 FL103066005 Consumer credit 44.6 38.6 38.3 37.8 38.9 39.4 39.6 39.6 120

121 FL103065003 Long term (mortgages) 25.5 27.1 29.0 52.6 29.8 32.2 34.2 34.3 121

122 FL103081005 Equity and investment fund shares 6126.1 7477.2 7751.9 7615.8 7979.2 9585.3 8081.2 9822.6 122

123 FL103034000 Money market fund shares 504.9 535.5 557.4 576.4 463.9 499.5 466.1 558.3 123

124 LM103064103 Corporate equities 1039.8 1358.5 1552.3 1498.3 1711.5 1948.3 1791.2 2308.7 124

125 LM103064203 Mutual fund shares 179.3 209.8 242.4 248.2 258.1 303.0 270.9 327.3 125

126 LM103092005 U.S. direct investment abroad 4322.7 5279.9 5290.4 5180.8 5446.6 6722.7 5438.6 6514.5 126

127 FL103092405 Equity in government-sponsored enterprises (2) 0.6 0.6 0.7 0.8 0.9 1.2 1.2 1.3 127

128 FL103094105 Investment in finance company subsidiaries 78.9 93.0 108.8 111.3 98.2 110.7 113.2 112.5 128

129 FL103076005 Insurance, pension and standardized guarantee schemes (3) 338.5 332.6 342.8 345.1 351.7 365.6 377.0 392.0 129

130 FL103096005 Other accounts receivable 5366.3 4920.1 5398.8 6572.2 7138.1 6352.9 8845.2 8636.3 130

131 FL103070005 Trade receivables 2344.5 2612.7 2720.2 2753.5 2952.3 3113.2 3509.6 3590.8 131

132 FL103093005 Other (miscellaneous assets) 3021.8 2307.4 2678.6 3818.7 4185.8 3239.7 5335.6 5045.6 132

133 FL102100085 Total liabilities and net worth 29385.9 32006.2 33959.8 36229.5 38227.7 40516.6 42478.7 45692.7 133

134 FL104194005 Liabilities 33943.1 40543.4 44542.0 45226.6 48563.4 54391.7 53090.1 63941.6 134

135 FL104122005 Debt securities 4515.9 4810.4 5136.9 5548.9 5835.3 6156.1 6294.9 6554.6 135

136 FL103169100 Open market paper 130.3 144.5 182.0 179.0 180.8 206.7 196.5 194.5 136

137 FL103162000 Municipal securities 523.3 524.3 523.6 536.5 553.5 566.8 562.7 576.9 137

138 FL103163003 Corporate bonds 3862.3 4141.6 4431.3 4833.4 5101.0 5382.6 5535.8 5783.2 138

139 FL104123005 Loans 2227.8 2315.7 2461.8 2627.5 2641.5 2840.0 3300.4 3498.5 139

140 FL104141005 Short term 1748.2 1828.2 1991.5 2059.0 2071.3 2309.1 2717.3 2866.8 140

141 FL103168005 Depository institution loans n.e.c. 711.9 765.5 863.7 967.0 968.2 920.5 990.4 1011.1 141

142 FL103169005 Other loans and advances 1036.3 1062.7 1127.7 1092.1 1103.1 1388.7 1726.9 1855.7 142

143 FL103165005 Long term (mortgages) 479.6 487.5 470.4 568.5 570.1 530.9 583.1 631.7 143

144 FL103181005 Equity and investment fund shares 19730.3 25647.9 28527.9 27950.6 30321.2 35615.3 33042.6 42211.7 144

145 LM103164103 Corporate equity 16527.1 21525.5 23982.2 23165.1 24847.9 29075.4 26826.8 34066.5 145

146 LM103192005 Foreign direct investment in the United States 3203.2 4122.4 4545.7 4785.5 5473.3 6539.9 6215.8 8145.2 146

147 FL103152025 Insurance, pension and standardized guarantee schemes 459.3 671.0 580.2 700.3 682.4 446.0 674.7 259.6 147

148 FL573074005 Pension fund contributions payable 81.4 79.0 76.1 91.3 100.1 119.3 84.7 83.8 148

149 FL573073005 Claim of pension fund on sponsor 377.9 592.0 504.1 609.0 582.3 326.7 590.0 175.7 149

150 FL103196005 Other accounts payable 7009.8 7098.5 7835.1 8399.3 9083.0 9334.2 9777.4 11417.3 150

151 FL103170005 Trade payables 1830.7 1931.2 2079.8 2104.1 2288.3 2369.7 2690.4 2773.3 151

152 FL103178005 Taxes payable 93.1 83.2 95.4 74.2 66.1 277.2 266.7 251.2 152

153 FL103193005 Miscellaneous liabilities 5086.0 5084.1 5660.0 6221.0 6728.6 6687.4 6820.4 8392.8 153

154 FL102090085 Net worth -4557.2 -8537.3 -10582.2 -8997.1 -10335.6 -13875.0 -10611.4 -18248.8 154

(1) Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) Net equity in reserves of property-casualty insurance companies.

(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(5) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.

(6) Excludes nonproduced nonfinancial assets.
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Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

 Current account

 1 FA796902505 Gross value added 1199.9 1169.7 1316.2 1388.4 1489.8 1570.9 1693.6 1717.1 1

 2 FA796300081 Less: Consumption of fixed capital 172.5 181.8 190.3 199.2 210.3 220.7 231.5 244.6 2

 3 FA796902605 Equals: Net value added 1027.4 987.9 1125.9 1189.2 1279.5 1350.2 1462.1 1472.5 3

 4 FA796025005 Compensation of employees (paid) 630.1 641.3 681.1 715.7 734.2 787.5 818.4 850.5 4

 5 FA796020001 Wages and salaries 536.8 545.4 582.1 611.2 625.5 668.5 693.0 726.9 5

 6 FA796401001 Employers’ social contributions 93.3 95.9 99.0 104.5 108.7 119.0 125.4 123.6 6

 7 FA796240101 Taxes on production and imports less subsidies 56.6 57.2 63.3 67.2 74.7 69.4 81.8 68.8 7

 8 FA796402101 Operating surplus, net 340.8 289.4 381.5 406.3 470.6 493.3 561.9 553.2 8

 9 FA796140005 Net national income/Balance of primary incomes, net 208.8 80.8 159.1 112.3 217.6 160.4 201.6 263.9 9

10 FA796402101 Operating surplus, net 340.8 289.4 381.5 406.3 470.6 493.3 561.9 553.2 10

11 FA796150105 Property income (received) 2093.6 2056.4 2091.7 2127.0 2206.7 2392.2 2690.2 2808.1 11

12 FA796130101 Interest 1679.1 1583.0 1590.0 1612.8 1693.2 1812.1 2003.6 2194.6 12

13 FA796121101 Distributed income of corporations (dividends) 359.2 414.3 450.3 463.5 467.5 524.4 724.4 585.7 13

14 FA793092281 Reinvested earnings on U.S. direct investment abroad 55.2 59.1 51.4 50.6 46.0 55.6 -37.8 27.9 14

15 FA796150005 Less: Uses of property income (paid) 2225.5 2264.9 2314.1 2421.0 2459.7 2725.0 3050.5 3097.4 15

16 FA796130001 Interest 1528.1 1442.1 1488.4 1568.8 1618.9 1792.7 2049.8 2191.1 16

17 FA796120005 Distributed income of corporations 680.7 807.2 810.1 838.6 827.6 916.6 979.4 885.7 17

18 FA796121001 Dividends 610.0 753.0 787.2 824.6 780.5 857.5 938.6 844.9 18

19 FA796122001 Withdrawals from income of quasi-corporations (2) 70.7 54.2 22.9 14.0 47.1 59.2 40.8 40.8 19

20 FA793192281 Reinvested earnings on foreign direct investment 16.6 15.6 15.6 13.7 13.2 15.7 21.4 20.6 20

21 FA796112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA796140005 Net national income/Balance of primary incomes, net 208.8 80.8 159.1 112.3 217.6 160.4 201.6 263.9 22

23 FA796220001 Less: Current taxes on income, wealth, etc. (paid) 89.2 99.1 116.3 113.1 114.3 87.1 86.4 86.3 23

24 FA796403005 Less: Other current transfers (paid) -18.8 -15.4 14.8 29.0 74.4 35.9 51.7 54.6 24

25 FA796012005 Equals: Disposable income, net 138.4 -2.9 28.0 -29.8 28.9 37.4 63.4 122.9 25

26 FA796012005 Equals: Net saving 138.4 -2.9 28.0 -29.8 28.9 37.4 63.4 122.9 26

 Capital account

27 FA796006385 Net saving less capital transfers 128.8 -2.9 18.0 -29.8 27.1 -65.3 46.6 122.9 27

28 FA796012005 Net saving 138.4 -2.9 28.0 -29.8 28.9 37.4 63.4 122.9 28

29 FA795440005 Less: Capital transfers paid (net) 9.6 0.0 10.0 0.0 1.8 102.7 16.9 0.0 29

30 FA795015085 Capital formation, net 20.7 21.2 28.4 42.3 47.5 34.9 41.1 43.4 30

31 FA795013005 Gross fixed capital formation (nonresidential) 193.2 203.0 218.7 241.5 257.8 255.6 272.6 288.0 31

32 FA796300081 Less: Consumption of fixed capital 172.5 181.8 190.3 199.2 210.3 220.7 231.5 244.6 32

33 FA795000905 Net lending (+) or borrowing (-), capital account (lines 27-30) 108.1 -24.0 -10.4 -72.0 -20.5 -100.2 5.5 79.5 33

 Financial account

34 FA795000905 Net lending (+) or borrowing (-) (line 33) 108.1 -24.0 -10.4 -72.0 -20.5 -100.2 5.5 79.5 34

35 FA794090005 Net acquisition of financial assets 2222.8 2975.3 2603.6 1412.9 2301.4 2901.2 1683.6 3341.9 35

36 FA713011203 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 FA794000005 Currency and deposits -16.7 784.3 162.4 -535.9 -459.5 287.1 -474.5 142.8 37

38 FA794022005 Debt securities 1104.8 1408.6 876.9 591.5 1183.1 860.4 988.1 1160.9 38

39 FA793069175 Open market paper 5.4 9.7 -43.4 8.9 -87.2 95.9 3.8 -40.9 39

40 FA793061105 Treasury securities 411.1 541.6 613.4 347.5 770.0 154.0 721.8 691.7 40

41 FA793061705 Agency- and GSE-backed securities (3) 198.8 440.5 93.0 16.8 340.5 254.3 -22.4 165.7 41

42 FA793062005 Municipal securities 116.5 -26.9 7.7 47.8 29.2 46.9 -47.6 67.7 42

43 FA793063005 Corporate and foreign bonds 373.0 443.8 206.2 170.4 130.5 309.1 332.6 276.7 43

44 FA794035005 Loans 452.2 35.6 787.2 823.4 934.0 1354.5 1180.7 1412.6 44

45 FA794041005 Short term 522.0 -53.8 596.8 441.1 432.4 770.8 604.1 813.0 45

46 FA793065005 Long term (mortgages) -69.8 89.5 190.4 382.3 501.6 583.7 576.6 599.6 46

47 FA793081005 Equity and investment fund shares 534.5 172.1 246.6 353.9 215.7 31.2 -164.9 -166.2 47

48 FA793064105 Corporate equities 42.4 -26.4 -4.4 235.3 -169.7 80.5 -136.2 -308.2 48

49 FA793064205 Mutual fund shares -17.9 128.9 25.9 -13.9 -82.2 -32.1 -105.3 -121.0 49

50 FA793034005 Money market fund shares -15.3 -2.8 17.4 -13.4 100.4 12.6 22.2 63.2 50

51 FA793092405 Equity in government-sponsored enterprises (3) -2.0 -0.2 0.3 0.7 1.9 1.4 0.8 -4.0 51

52 FA793092005 U.S. direct investment abroad 20.5 25.1 30.3 15.4 50.1 42.8 -11.7 41.4 52

53 FA713164003 Stock in Federal Reserve Banks 0.5 0.1 1.1 0.9 1.0 0.9 0.9 -0.6 53

54 FA793094005 Investment in subsidiaries 506.4 47.4 175.9 129.0 314.2 -75.0 64.4 163.0 54

55 FA793052005 Insurance, pension and standardized guarantee schemes 297.8 490.8 269.0 288.6 400.4 269.4 302.4 306.1 55

56 FA793096005 Other accounts receivable -149.8 83.8 261.5 -108.6 27.7 98.6 -148.2 485.7 56
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2012 2013 2014 2015 2016 2017 2018 2019

 

57 FA794190005 Net incurrence of liabilities 2261.2 2838.3 2674.2 1242.6 2273.0 2676.7 1509.2 3177.1 57

58 FA794100005 Currency and deposits 595.4 1786.3 936.8 236.6 459.4 788.5 495.8 852.6 58

59 FA794122005 Debt securities -134.3 28.8 119.7 146.7 389.0 339.8 358.7 444.7 59

60 FA423161705 Agency- and GSE-backed securities (3) -23.8 238.3 150.3 220.4 351.7 346.9 246.9 319.5 60

61 FA793163005 Corporate bonds -31.3 -128.3 37.1 -33.2 36.5 29.6 77.8 158.4 61

62 FA793169175 Commercial paper -79.2 -81.2 -67.7 -40.5 0.8 -36.8 33.9 -33.2 62

63 FA794135005 Loans 249.5 -206.4 174.6 14.9 52.0 46.4 4.7 156.8 63

64 FA794141005 Short term 244.6 -226.3 165.3 10.8 50.9 40.8 20.5 154.4 64

65 FA123165005 Long term (mortgages) 4.8 19.9 9.3 4.0 1.0 5.6 -15.8 2.4 65

66 FA793181005 Equity and investment fund shares 1171.2 706.1 814.2 532.1 742.9 830.9 416.4 1207.1 66

67 FA634090005 Money market fund shares 2.2 40.2 15.7 -6.7 -11.1 117.2 189.9 596.0 67

68 FA793164105 Corporate equity issues 197.5 211.5 249.4 228.1 255.5 418.9 198.4 209.6 68

69 FA653164205 Mutual fund shares 386.6 346.9 311.5 98.9 28.8 318.4 -63.3 208.2 69

70 FA403192405 Equity in government-sponsored enterprises (3) -1.8 0.5 1.2 1.3 2.7 4.2 1.1 -3.7 70

71 FA793192005 Foreign direct investment in the United States 20.8 29.1 24.7 66.3 66.4 31.1 37.9 28.7 71

72 FA662090003 Equity in noncorporate business 10.4 2.9 4.3 5.3 17.3 1.0 9.5 5.2 72

73 FA793194005 Investment by parent 555.0 74.8 206.3 138.1 382.3 -60.7 41.9 163.6 73

74 FA713164005 Equity in Federal Reserve Banks 0.5 0.1 1.1 0.9 1.0 0.9 0.9 -0.6 74

75 FA503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 75

76 FA583152005 Insurance, pension and standardized guarantee schemes 570.6 586.0 431.6 498.1 500.0 629.9 448.5 532.8 76

77 FA793196005 Other accounts payable -191.1 -62.5 197.4 -185.7 129.6 41.2 -214.8 -16.9 77

 Addendum:

78 FA795000005 Net lending (+) or borrowing (-), financial account (lines 35-57) -38.4 137.0 -70.6 170.3 28.4 224.5 174.4 164.7 78

 Other changes in volume account

79 FV798090185 Total other volume changes 299.5 100.5 -224.3 272.3 203.6 -90.0 270.9 -378.2 79

80 FV795013865 Disaster losses -2.0 0.0 0.0 0.0 0.0 -1.8 -2.4 0.0 80

81 FV798090085 Other volume changes 448.0 -60.5 -164.1 29.9 154.8 -412.8 104.4 -463.4 81

82 FU797005045 Less: Statistical discrepancy (lines 33-77) (4) 146.5 -161.0 60.2 -242.4 -48.9 -324.7 -169.0 -85.2 82

 Revaluation account

83 FR795013865 Nonfinancial assets 16.6 28.6 23.0 12.9 13.3 31.3 60.1 35.3 83

84 FR795013665 Structures (nonresidential) 15.5 30.3 23.6 19.5 17.8 33.1 56.5 38.5 84

85 FR795013265 Equipment 2.7 -1.4 0.7 -3.8 -3.2 -0.4 3.9 -2.7 85

86 FR795013765 Intellectual property products -1.6 -0.2 -1.4 -2.8 -1.3 -1.4 -0.3 -0.6 86

87 FR794090085 Financial assets 1803.3 2237.2 1574.7 -1125.1 1235.4 3847.3 -2733.5 6194.7 87

88 FR794022005 Debt securities 209.3 -985.7 641.2 -514.8 -33.8 218.2 -655.4 1286.0 88

89 FR793064105 Corporate equities 1527.1 3271.4 981.8 -466.8 1185.5 3405.9 -1832.9 4715.5 89

90 FR793064205 Mutual fund shares 429.7 694.0 225.5 -124.2 346.3 776.7 -408.4 1061.6 90

91 FR793092005 U.S. direct investment abroad 78.2 49.0 25.1 -166.6 20.2 150.7 -193.5 157.0 91

92 FR593052025 Insurance, pension, and standardized guarantee schemes -441.0 -791.5 -298.8 147.3 -282.9 -704.2 356.7 -1025.4 92

93 FR794190085 Liabilities 2349.4 3950.6 1599.6 -768.0 1940.0 4453.7 -2842.6 6512.6 93

94 FR793164105 Corporate equity issues 711.0 1256.9 638.0 -217.3 765.1 1260.6 -980.2 2001.5 94

95 FR653164205 Mutual fund shares 1035.5 1622.6 506.1 -352.3 689.6 1965.0 -1165.9 2781.5 95

96 FR793192005 Foreign direct investment in the United States 40.6 81.5 56.8 -34.6 8.8 150.7 -164.4 133.2 96

97 FR662090003 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 97

98 FR793194005 Investment by parent -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 98

99 FR583152005 Insurance, pension and standardized guarantee schemes 562.3 989.6 398.7 -163.8 476.5 1077.5 -532.2 1596.3 99

100 FR798200005 Changes in net worth due to nominal holding gains/losses -529.4 -1684.8 -1.9 -344.2 -691.3 -575.2 169.2 -282.6 100

 Changes in balance sheet account

101 FC792090095 Change in net worth (lines 30+33+78+99) -101.1 -1587.2 -208.3 -101.7 -460.6 -730.4 486.7 -537.8 101

 Balance sheet account (end of period)

102 FL792000095 Total assets 80142.6 86298.3 90442.5 90665.9 94398.1 101188.6 100495.8 109999.3 102

103 LM795013865 Nonfinancial assets (5) 1637.7 1687.5 1738.8 1794.1 1854.9 1919.3 2018.0 2096.7 103

104 LM795013665 Structures (nonresidential) 985.9 1004.8 1021.4 1038.9 1059.6 1096.4 1158.6 1205.1 104

105 LM795013265 Equipment 502.0 524.0 552.7 582.0 608.0 623.0 644.4 660.5 105

106 LM795013765 Intellectual property products 149.8 158.7 164.7 173.2 187.3 199.8 214.9 231.2 106

107 FL794090005 Financial assets 78504.9 84610.8 88703.7 88871.9 92543.2 99269.3 98477.8 107902.6 107

108 FL713011203 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 108
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109 FL794000005 Currency and deposits 2732.3 3515.3 3674.8 3122.4 2673.8 2961.5 2486.6 2615.9 109

110 FL794022005 Debt securities 21704.3 22084.2 23602.3 23654.7 24810.3 25882.6 26189.2 28688.8 110

111 FL793069175 Open market paper 646.5 656.8 614.6 624.9 538.1 632.6 637.5 596.5 111

112 FL793061105 Treasury securities 5990.6 6217.8 7057.4 7318.2 8021.6 8197.4 8863.5 9786.9 112

113 FL793061705 Agency- and GSE-backed securities (3) 5984.5 6202.4 6476.4 6386.7 6672.4 6938.4 6836.3 7214.6 113

114 FL793062005 Municipal securities 1981.4 1875.8 1977.4 2022.8 2016.4 2093.6 1977.9 2105.7 114

115 FL793063005 Corporate and foreign bonds 7101.4 7131.4 7476.5 7302.1 7561.8 8020.6 7873.9 8985.0 115

116 FL794035005 Loans 22043.1 21975.7 22724.3 23364.2 24262.1 25670.5 26827.8 28220.7 116

117 FL794041005 Short term 9222.8 9157.5 9754.2 10021.5 10453.9 11305.6 11913.3 12725.3 117

118 FL793065005 Long term (mortgages) 12820.4 12818.2 12970.1 13342.7 13808.2 14365.0 14914.6 15495.5 118

119 FL793081005 Equity and investment fund shares 21626.3 25807.0 27285.9 26770.6 28497.7 32815.0 30215.4 35596.5 119

120 LM793064105 Corporate equities 12299.1 15544.0 16521.5 16290.0 17305.9 20792.3 18823.1 22985.0 120

121 LM793064205 Mutual fund shares 4086.8 4909.8 5161.1 5023.1 5287.2 6031.8 5518.2 6308.2 121

122 FL793034005 Money market fund shares 401.9 399.1 416.5 403.0 503.4 516.1 538.2 601.4 122

123 FL793092405 Equity in government-sponsored enterprises (3) 33.5 33.4 33.7 34.4 36.3 37.7 38.5 34.5 123

124 LM793092005 U.S. direct investment abroad 900.2 974.3 1029.7 878.5 948.8 1142.3 937.1 1135.5 124

125 FL713164003 Stock in Federal Reserve Banks 27.4 27.5 28.6 29.5 30.4 31.4 32.3 31.7 125

126 FL793094005 Investment in subsidiaries 3877.3 3918.9 4094.8 4112.1 4385.6 4263.6 4328.0 4500.2 126

127 FL793052005 Insurance, pension and standardized guarantee schemes 6684.8 7482.1 7569.9 8075.7 8279.3 7950.5 8670.1 8068.3 127

128 FL793096005 Other accounts receivable 3703.0 3735.4 3835.4 3873.2 4009.0 3978.1 4077.7 4701.3 128

129 FL792100005 Total liabilities and net worth 80142.6 86298.3 90442.5 90665.9 94398.1 101188.6 100495.8 109999.3 129

130 FL794194005 Liabilities 79279.0 87021.8 91374.4 91699.4 95892.2 103413.1 102233.7 112275.0 130

131 FL794100005 Currency and deposits 13973.3 15759.6 16696.4 16933.0 17392.5 18181.0 18676.7 19529.4 131

132 FL794122005 Debt securities 13279.8 13252.7 13344.9 13258.3 13624.5 13927.8 14271.3 14709.1 132

133 FL423161705 Agency- and GSE-backed securities (3) 7535.4 7773.7 7924.0 8144.4 8496.1 8843.0 9090.0 9409.5 133

134 FL793163005 Corporate bonds 5121.8 4937.6 4947.2 4680.6 4694.4 4687.5 4750.1 4901.7 134

135 FL793169175 Commercial paper 622.6 541.4 473.7 433.2 434.0 397.2 431.2 397.9 135

136 FL794135005 Loans 4911.6 4705.2 4887.7 4905.5 4957.4 5003.8 5008.5 5161.5 136

137 FL794141005 Short term 4717.2 4491.0 4656.3 4670.0 4721.0 4761.7 4782.2 4936.6 137

138 FL123165005 Long term (mortgages) 194.4 214.3 231.4 235.4 236.5 242.0 226.2 224.9 138

139 FL793181005 Equity and investment fund shares 22675.6 26336.9 28352.0 28168.5 30334.2 34494.4 32600.4 38732.9 139

140 FL634090005 Money market fund shares 2693.2 2733.4 2749.1 2742.4 2731.3 2848.4 3038.3 3634.3 140

141 LM793164105 Corporate equity issues 4962.7 6431.0 7318.4 7329.2 8349.8 10029.3 9247.5 11458.7 141

142 LM653164205 Mutual fund shares 10363.5 12333.0 13150.6 12897.2 13615.6 15899.0 14669.8 17659.5 142

143 FL403192405 Equity in government-sponsored enterprises (3) 41.2 41.7 42.9 44.2 46.9 51.1 52.2 48.6 143

144 LM793192005 Foreign direct investment in the United States 704.8 815.5 897.0 928.7 1003.9 1185.6 1059.1 1221.1 144

145 LM662090003 Equity in noncorporate business 37.9 40.8 45.1 50.4 67.7 68.7 78.2 83.5 145

146 FL793194005 Investment by parent 3845.0 3914.0 4120.3 4147.0 4488.6 4380.8 4422.8 4595.6 146

147 FL713164005 Equity in Federal Reserve Banks 27.4 27.5 28.6 29.5 30.4 31.4 32.3 31.7 147

148 FL503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 148

149 FL583152005 Insurance, pension and standardized guarantee schemes 23504.4 26178.0 27125.9 27530.2 28610.3 30423.7 30400.6 32610.3 149

150 FL793196005 Other accounts payable 934.3 789.3 967.5 903.9 973.4 1382.4 1276.3 1531.7 150

151 FL792090095 Net worth 863.6 -723.5 -931.8 -1033.5 -1494.1 -2224.5 -1737.9 -2275.7 151

(1) Financial business includes depository institutions, insurance companies, pension funds, monetary authority, and other financial institutions.

 Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(2) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(3) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(5) Excludes land. Includes corporate and noncorporate financial business.
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 Current account

 1 FA716902505 Gross value added 2.6 3.2 4.1 4.1 7.4 14.5 20.6 20.5 1

 2 FA716330085 Less: Consumption of fixed capital 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 2

 3 FA716902605 Equals: Net value added 1.8 2.5 3.3 3.4 6.6 13.7 19.8 19.7 3

 4 FA716025005 Compensation of employees (paid) 2.0 2.2 2.3 2.3 2.5 2.7 2.8 3.0 4

 5 FA716020001 Wages and salaries 1.8 1.9 2.0 2.1 2.2 2.4 2.5 2.6 5

 6 FA716401001 Employers’ social contributions 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.4 6

 7 FA716240101 Taxes on production and imports less subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA716402101 Operating surplus, net -0.2 0.3 1.1 1.0 4.1 11.0 17.0 16.7 8

 9 FA716140005 Net national income/Balance of primary incomes, net -16.0 0.9 7.5 -15.5 2.5 -0.3 -0.6 2.4 9

10 FA716402101 Operating surplus, net -0.2 0.3 1.1 1.0 4.1 11.0 17.0 16.7 10

11 FA716150105 Property income (received) 80.9 90.5 115.9 113.6 111.1 113.6 112.3 102.7 11

12 FA716130101 Interest 80.9 90.5 115.9 113.6 111.1 113.6 112.3 102.7 12

13 FA716121101 Distributed income of corporations (dividends) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 FA713092281 Reinvested earnings on U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 FA716150005 Less: Uses of property income (paid) 96.8 89.9 109.5 130.2 112.6 125.0 129.8 117.0 15

16 FA716130001 Interest 6.7 8.6 11.0 11.3 20.5 43.6 63.5 61.4 16

17 FA716120005 Distributed income of corporations 90.1 81.3 98.6 118.8 92.2 81.3 66.3 55.6 17

18 FA716121001 Dividends 90.1 81.3 98.6 118.8 92.2 81.3 66.3 55.6 18

19 FA716122001 Withdrawals from income of quasi-corporations (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA713192281 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 FA716112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA716140005 Net national income/Balance of primary incomes, net -16.0 0.9 7.5 -15.5 2.5 -0.3 -0.6 2.4 22

23 FA716220001 Less: Current taxes on income, wealth, etc. (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 FA716403001 Less: Other current transfers (paid) 1.6 1.8 1.9 1.9 2.0 2.0 2.0 2.2 24

25 FA716012005 Equals: Disposable income, net -17.6 -0.9 5.6 -17.4 0.5 -2.4 -2.6 0.2 25

26 FA716012005 Equals: Net saving -17.6 -0.9 5.6 -17.4 0.5 -2.4 -2.6 0.2 26

 Capital account

27 FA716006385 Net saving less capital transfers -17.6 -0.9 5.6 -17.4 0.5 -2.4 -2.6 0.2 27

28 FA716012005 Net saving -17.6 -0.9 5.6 -17.4 0.5 -2.4 -2.6 0.2 28

29 FA715440083 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 FA715015085 Capital formation, net -0.1 -0.3 -0.2 -0.2 -0.1 -0.1 -0.2 -0.1 30

31 FA715013085 Gross fixed capital formation (nonresidential) 0.7 0.5 0.6 0.6 0.6 0.7 0.6 0.7 31

32 FA716330085 Less: Consumption of fixed capital 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 32

33 FA715000995 Net lending (+) or borrowing (-), capital account (lines 27-30) -17.5 -0.6 5.8 -17.2 0.6 -2.3 -2.4 0.4 33

 Financial account

34 FA715000995 Net lending (+) or borrowing (-) (line 33) -17.5 -0.6 5.8 -17.2 0.6 -2.3 -2.4 0.4 34

35 FA714090005 Net acquisition of financial assets 10.5 1108.0 475.6 -11.4 -31.1 -2.6 -389.8 116.4 35

36 FA713011203 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 FA714000005 Currency and deposits 0.9 0.4 1.4 1.9 0.1 0.8 0.5 0.5 37

38 FA714022005 Debt securities 132.6 1113.4 472.9 -10.4 -35.8 -10.9 -379.5 -137.5 38

39 FA713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 FA713061103 Treasury securities 58.9 550.2 236.8 -15.6 -13.3 -21.7 -243.3 99.1 40

41 FA713061705 Agency- and GSE-backed securities (2) 73.7 563.2 236.1 5.1 -22.5 10.8 -136.2 -236.6 41

42 FA714041005 Loans (short term) -121.0 -9.1 1.2 -0.6 4.5 6.6 -7.9 255.1 42

43 FA713064103 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 FA713096105 Other accounts receivable -2.0 3.2 0.0 -2.3 0.1 0.9 -3.0 -1.7 44

45 FA714190005 Net incurrence of liabilities 10.2 1107.8 474.5 7.1 -31.1 -2.6 -386.6 116.4 45

46 FA714100005 Currency and deposits -2.0 900.1 283.2 -197.9 -45.6 157.7 -128.7 83.9 46

47 FA712151003 Loans 7.3 208.7 193.9 202.6 12.8 -161.3 -259.9 32.6 47

48 FA713164005 Equity shares 0.5 0.1 1.1 0.9 1.0 0.9 0.9 -0.6 48

49 FA713193005 Other accounts payable 4.5 -1.2 -3.7 1.5 0.6 -0.0 1.1 0.5 49

 Addendum:

50 FA715000005 Net lending (+) or borrowing (-), financial account (lines 35-45) 0.3 0.2 1.1 -18.5 0.0 -0.0 -3.2 0.0 50
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 Other changes in volume account

51 FV718090185 Total other volume changes 235.4 0.8 -4.7 -1.3 -0.6 2.3 -0.7 -0.3 51

52 FV712010095 Disaster losses -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

53 FV718090085 Other volume changes 217.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 FU717005045 Less: Statistical discrepancy (lines 33-50) (3) -17.8 -0.8 4.7 1.3 0.6 -2.3 0.7 0.3 54

 Revaluation account

55 FR712010095 Nonfinancial assets 0.1 0.2 0.2 0.1 0.1 0.2 0.4 0.3 55

56 FR715013665 Structures (nonresidential) 0.1 0.2 0.2 0.2 0.1 0.2 0.4 0.3 56

57 FR715013265 Equipment 0.0 -0.0 -0.0 -0.0 -0.0 0.0 0.0 -0.0 57

58 FR715013765 Intellectual property products -0.0 0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 58

59 FR714022005 Financial assets (debt securities) -5.6 -267.6 227.3 -67.6 -39.9 13.6 -86.3 166.8 59

60 FR718200005 Changes in net worth due to nominal holding gains/losses -5.5 -267.4 227.5 -67.4 -39.8 13.8 -85.8 167.0 60

 Changes in balance sheet account

61 FC712090095 Change in net worth (lines 30+33+51+60) 212.2 -267.5 228.4 -86.2 -39.9 13.7 -89.2 166.9 61

 Balance sheet account (end of period)

62 FL712000095 Total assets 3178.0 4018.4 4721.2 4642.2 4571.2 4582.3 4106.5 4389.8 62

63 LM712010095 Nonfinancial assets (4) 10.3 10.2 10.2 10.2 10.2 10.3 10.6 10.7 63

64 LM715013665 Structures (nonresidential) 7.8 7.9 7.9 8.0 8.0 8.1 8.4 8.6 64

65 LM715013265 Equipment 1.7 1.6 1.5 1.4 1.3 1.3 1.2 1.1 65

66 LM715013765 Intellectual property products 0.8 0.8 0.8 0.8 0.9 0.9 1.0 1.0 66

67 FL714090005 Financial assets 3167.7 4008.1 4711.0 4632.0 4561.0 4572.0 4095.9 4379.1 67

68 FL713011203 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 68

69 FL714000005 Currency and deposits 69.0 68.1 66.7 67.0 67.1 69.6 69.7 70.0 69

70 LM714022005 Debt securities 3053.3 3899.1 4599.3 4521.3 4445.6 4448.3 3982.6 4011.9 70

71 FL713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 71

72 LM713061103 Treasury securities 1974.3 2341.3 2736.3 2675.9 2640.7 2633.0 2338.0 2540.7 72

73 LM713061705 Agency- and GSE-backed securities (2) 1079.0 1557.8 1863.0 1845.4 1804.9 1815.3 1644.6 1471.1 73

74 FL714041005 Loans (short term) 9.5 0.4 1.7 1.1 5.6 12.2 4.3 259.4 74

75 FL713064103 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 75

76 FL713096105 Other accounts receivable 24.9 29.4 32.3 31.5 31.7 30.9 28.3 26.9 76

77 FL712100005 Total liabilities and net worth 3178.0 4018.4 4721.2 4642.2 4571.2 4582.3 4106.5 4389.8 77

78 FL714190005 Liabilities 2931.1 4038.9 4513.4 4520.5 4489.4 4486.8 4100.2 4216.6 78

79 FL714100005 Currency and deposits 2786.7 3686.8 3970.0 3772.2 3726.6 3884.3 3755.6 3839.5 79

80 FL712151003 Loans 107.2 315.9 509.8 712.4 725.2 564.0 304.0 336.6 80

81 FL713164005 Equity shares 27.4 27.5 28.6 29.5 30.4 31.4 32.3 31.7 81

82 FL713193005 Other accounts payable 9.8 8.7 5.0 6.5 7.2 7.1 8.2 8.7 82

83 FL712090095 Net worth 246.9 -20.6 207.8 121.6 81.8 95.5 6.3 173.2 83

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

 Current account

 1 FA706902505 Gross value added 281.7 298.9 307.8 347.6 388.1 459.0 516.6 499.8 1

 2 FA706300081 Less: Consumption of fixed capital 33.0 33.5 33.4 34.3 36.2 38.3 41.6 45.2 2

 3 FA706902605 Equals: Net value added 248.7 265.4 274.4 313.3 351.9 420.7 475.0 454.6 3

 4 FA706025005 Compensation of employees (paid) 167.5 170.8 169.6 180.3 181.8 183.1 208.3 211.0 4

 5 FA706020001 Wages and salaries 143.1 145.9 144.7 153.9 155.1 155.9 176.9 180.9 5

 6 FA706401001 Employers’ social contributions 24.4 24.9 24.9 26.4 26.7 27.2 31.4 30.1 6

 7 FA706240101 Taxes on production and imports less subsidies 9.2 10.1 10.2 10.1 10.8 11.4 11.6 12.0 7

 8 FA706402101 Operating surplus, net 72.0 84.5 94.6 122.9 159.3 226.2 255.1 231.6 8

 9 FA706140005 Net national income/Balance of primary incomes, net 117.3 132.7 118.7 123.9 142.2 184.5 126.6 90.3 9

10 FA706402101 Operating surplus, net 72.0 84.5 94.6 122.9 159.3 226.2 255.1 231.6 10

11 FA706150105 Property income (received) 311.3 281.6 265.6 275.0 279.5 307.2 330.6 375.8 11

12 FA706130101 Interest 291.5 260.3 247.6 258.1 265.3 290.7 337.9 366.0 12

13 FA706121101 Distributed income of corporations (dividends) 2.2 2.4 2.7 3.0 2.0 2.1 2.7 2.4 13

14 FA703092281 Reinvested earnings on U.S. direct investment abroad 17.6 18.9 15.3 13.9 12.2 14.4 -10.0 7.4 14

15 FA706150005 Less: Uses of property income (paid) 266.0 233.4 241.5 274.0 296.6 348.9 459.1 517.1 15

16 FA706130001 Interest 164.1 143.5 145.9 165.2 189.8 222.4 288.2 329.0 16

17 FA706120005 Distributed income of corporations 96.2 84.0 89.9 104.4 102.7 121.5 164.3 181.8 17

18 FA706121001 Dividends 96.0 83.9 89.8 104.3 102.6 121.4 164.2 181.7 18

19 FA706122001 Withdrawals from income of quasi-corporations (1) 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 19

20 FA703192281 Reinvested earnings on foreign direct investment 5.7 5.9 5.7 4.4 4.1 5.0 6.6 6.3 20

21 FA706112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA706140005 Net national income/Balance of primary incomes, net 117.3 132.7 118.7 123.9 142.2 184.5 126.6 90.3 22

23 FA706220001 Less: Current taxes on income, wealth, etc. (paid) 29.5 24.8 37.4 36.0 34.9 22.8 25.6 27.2 23

24 FA706403001 Less: Other current transfers (paid) 5.5 6.3 6.7 7.3 8.1 8.6 9.1 9.4 24

25 FA706012005 Equals: Disposable income, net 82.3 101.6 74.6 80.6 99.2 153.1 91.9 53.7 25

26 FA706012005 Equals: Net saving 82.3 101.6 74.6 80.6 99.2 153.1 91.9 53.7 26

 Capital account

27 FA706006385 Net saving less capital transfers 82.3 101.6 74.6 80.6 99.2 143.3 91.9 53.7 27

28 FA706012005 Net saving 82.3 101.6 74.6 80.6 99.2 153.1 91.9 53.7 28

29 FA705440083 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 0.0 9.8 0.0 0.0 29

30 FA705015085 Capital formation, net -2.5 -5.3 -4.4 2.2 4.3 5.7 10.2 9.6 30

31 FA705013081 Gross fixed capital formation (nonresidential) 30.5 28.1 29.0 36.5 40.5 44.1 51.7 54.9 31

32 FA706300081 Less: Consumption of fixed capital 33.0 33.5 33.4 34.3 36.2 38.3 41.6 45.2 32

33 FA705000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 84.8 107.0 79.0 78.4 94.9 137.5 81.8 44.0 33

 Financial account

34 FA705000995 Net lending (+) or borrowing (-) (line 33) 84.8 107.0 79.0 78.4 94.9 137.5 81.8 44.0 34

35 FA704090005 Net acquisition of financial assets 472.6 969.2 949.0 521.7 731.9 866.7 417.5 760.9 35

36 FA704000005 Currency and deposits -61.5 730.3 149.5 -389.6 -209.7 195.7 -388.4 -2.9 36

37 FA703025005 Vault cash 7.1 2.5 2.1 -1.5 1.8 1.2 4.9 1.4 37

38 FA713113003 Reserves at the Federal Reserve -69.7 730.9 148.9 -387.6 -211.0 194.8 -393.1 -7.1 38

39 FA403197033 Deposits at Federal Home Loan Banks 1.2 -3.2 -1.5 -0.5 -0.4 -0.3 -0.2 2.8 39

40 FA704022005 Debt securities 183.9 91.8 181.5 203.0 293.6 133.7 98.7 237.0 40

41 FA703069175 Open market paper 0.0 0.0 0.0 0.0 0.0 -0.0 0.2 0.5 41

42 FA703061105 Treasury securities 87.6 -27.6 192.4 37.9 121.9 -37.3 124.3 126.7 42

43 FA703061705 Agency- and GSE-backed securities (2) 49.5 61.6 5.7 140.5 144.4 168.1 52.4 115.1 43

44 FA703062005 Municipal securities 68.4 54.7 32.7 45.3 47.2 20.4 -40.0 -29.1 44

45 FA703063005 Corporate and foreign bonds -21.5 3.1 -49.3 -20.7 -19.9 -17.5 -38.2 23.8 45

46 FA704035005 Loans 392.3 136.4 596.3 703.0 590.7 522.8 775.2 496.4 46

47 FA704041005 Short term 374.0 144.2 446.4 447.8 293.2 306.8 604.9 280.8 47

48 FA703065005 Long term (mortgages) 18.4 -7.8 149.9 255.2 297.5 216.0 170.3 215.6 48

49 FA703081005 Equity and investment fund shares -14.6 -2.9 3.1 -8.4 -8.0 12.7 -0.2 3.5 49

50 FA703064105 Corporate equities -10.5 -1.5 0.7 2.0 -6.9 -2.0 2.5 0.8 50

51 FA703064205 Mutual fund shares -0.9 -0.8 -0.8 -1.0 -1.9 0.2 -5.5 -1.8 51

52 FA703092405 Equity in government-sponsored enterprises (2) -2.1 -1.1 -0.0 -0.9 2.0 1.4 0.5 -4.6 52

53 FA763092000 U.S. direct investment abroad -1.6 0.4 2.2 -9.3 -2.2 12.2 1.4 9.6 53

54 FA713164003 Stock in Federal Reserve Banks 0.5 0.1 1.1 0.9 1.0 0.9 0.9 -0.6 54

55 FA763040005 Insurance, pension and standardized guarantee schemes 7.4 5.8 5.7 6.6 5.6 6.4 3.9 6.7 55

56 FA703093005 Other accounts receivable -35.0 7.9 12.9 7.2 59.7 -4.7 -71.7 20.3 56
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57 FA704190005 Net incurrence of liabilities 570.6 852.2 1052.4 492.7 778.0 767.5 559.5 830.3 57

58 FA704100005 Currency and deposits 596.5 897.8 649.1 432.6 499.0 623.4 620.2 760.9 58

59 FA703127005 Checkable deposits 206.4 188.7 198.8 102.5 106.6 183.6 55.9 171.7 59

60 FA703130205 Other deposits 390.1 709.1 450.4 330.1 392.5 439.8 564.3 589.2 60

61 FA704122005 Debt securities -75.8 -138.7 -47.6 -15.4 -17.6 -65.4 27.0 -40.0 61

62 FA763163005 Corporate bonds -50.1 -74.4 -19.4 -9.5 -16.0 -35.0 12.3 -18.7 62

63 FA703169175 Commercial paper -25.7 -64.4 -28.2 -5.9 -1.6 -30.3 14.7 -21.4 63

64 FA704141005 Loans (short term) -26.7 -17.5 92.0 35.7 102.2 115.3 -82.6 -27.5 64

65 FA703181105 Equity and investment fund shares 110.9 87.6 192.4 48.3 182.8 17.2 50.1 102.5 65

66 FA763164103 Corporate equity issues 1.9 0.6 0.4 6.8 -5.0 2.8 -5.2 1.4 66

67 FA753192003 Foreign direct investment in the United States -2.3 8.8 3.7 0.4 10.9 7.6 7.1 1.7 67

68 FA703194005 Investment by parent 111.3 78.2 188.3 41.1 176.9 6.8 48.2 99.5 68

69 FA703196005 Other accounts payable -34.3 23.0 166.4 -8.6 11.6 76.9 -55.2 34.4 69

 Addendum:

70 FA705000005 Net lending (+) or borrowing (-), financial account (lines 35-57) -97.9 117.0 -103.4 29.0 -46.2 99.2 -142.0 -69.4 70

 Other changes in volume account

71 FV708090185 Total other volume changes -260.7 -125.1 -147.5 0.2 -163.6 -197.0 -147.3 -274.3 71

72 FV702010095 Disaster losses -0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 72

73 FV708090085 Other volume changes -77.3 -135.2 34.9 49.6 -22.5 -158.7 76.5 -160.9 73

74 FU707005045 Less: Statistical discrepancy (lines 33-70) (3) 182.8 -10.1 182.3 49.4 141.1 38.3 223.8 113.4 74

 Revaluation account

75 FR702010095 Nonfinancial assets 3.4 7.2 5.6 3.1 2.9 8.0 15.0 8.6 75

76 FR705013665 Structures (nonresidential) 3.9 7.8 6.1 5.1 4.3 8.1 14.9 10.0 76

77 FR705013265 Equipment -0.0 -0.5 -0.3 -1.5 -1.0 0.3 0.4 -1.1 77

78 FR705013765 Intellectual property products -0.4 -0.1 -0.3 -0.5 -0.3 -0.4 -0.2 -0.2 78

79 FR704090085 Financial assets 54.6 -20.1 45.5 -107.4 -7.5 93.2 -137.5 197.7 79

80 FR704022005 Debt securities 10.7 -94.6 75.6 -64.4 -27.2 13.3 -59.1 110.4 80

81 FR703064105 Corporate equities 14.4 29.1 6.5 -10.4 13.2 25.6 -21.1 37.8 81

82 FR703064205 Mutual fund shares 5.5 10.8 2.5 -3.8 4.9 9.1 -6.9 12.0 82

83 FR763092000 U.S. direct investment abroad 24.0 34.5 -38.9 -28.8 1.7 45.2 -50.4 37.5 83

84 FR703181105 Liabilities 208.5 268.1 63.9 -27.3 233.5 242.2 -306.1 440.2 84

85 FR763164103 Corporate equity issues 157.6 211.9 83.8 -5.0 205.8 199.5 -245.3 377.1 85

86 FR753192003 Foreign direct investment in the United States 50.9 56.2 -19.8 -22.3 27.7 42.7 -60.8 63.0 86

87 FR703194005 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 87

88 FR708200005 Changes in net worth due to nominal holding gains/losses -150.4 -281.1 -12.8 -77.0 -238.1 -141.0 183.7 -233.8 88

 Changes in balance sheet account

89 FC702090095 Change in net worth (lines 30+33+71+88) -328.8 -304.6 -85.7 3.9 -302.4 -194.7 128.3 -454.4 89

 Balance sheet account (end of period)

90 FL702000095 Total assets 15341.8 16157.5 17188.1 17657.4 18366.5 19253.0 19642.3 20520.1 90

91 LM702010095 Nonfinancial assets (4) 378.5 381.0 384.6 392.6 403.4 419.5 447.5 468.3 91

92 LM705013665 Structures (nonresidential) 267.0 271.9 276.8 280.2 285.5 294.8 312.2 325.3 92

93 LM705013265 Equipment 88.0 85.0 82.6 83.2 84.5 87.6 92.8 95.7 93

94 LM705013765 Intellectual property products 23.5 24.1 25.2 29.1 33.4 37.1 42.6 47.3 94

95 FL704090005 Financial assets 14963.3 15776.6 16803.5 17264.8 17963.1 18833.5 19194.8 20051.8 95

96 FL704000005 Currency and deposits 1557.8 2288.1 2437.5 2047.9 1838.3 2034.0 1645.6 1642.7 96

97 FL703025005 Vault cash 71.1 73.6 75.7 74.2 76.0 77.2 82.0 83.4 97

98 FL713113003 Reserves at the Federal Reserve 1473.0 2203.9 2352.8 1965.2 1754.2 1949.0 1556.0 1548.8 98

99 FL403197033 Deposits at Federal Home Loan Banks 13.7 10.6 9.1 8.5 8.1 7.8 7.6 10.4 99

100 LM704022005 Debt securities 3482.1 3479.3 3736.3 3874.9 4141.3 4288.3 4299.9 4647.3 100

101 FL703069175 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.7 101

102 LM703061105 Treasury securities 342.3 305.4 502.9 537.2 654.1 616.0 736.7 879.3 102

103 LM703061705 Agency- and GSE-backed securities (2) 1961.0 1970.8 2031.1 2127.8 2253.0 2422.6 2445.5 2634.4 103

104 LM703062005 Municipal securities 381.7 423.7 468.5 514.2 551.7 578.9 505.8 478.3 104

105 LM703063005 Corporate and foreign bonds 797.1 779.5 733.8 695.7 682.5 670.8 611.8 654.6 105
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Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

106 FL704035005 Loans 8697.4 8814.3 9399.7 10094.9 10680.3 11199.2 11971.4 12465.4 106

107 FL704041005 Short term 4278.3 4422.4 4868.7 5316.5 5609.6 5916.4 6528.9 6809.7 107

108 FL703065005 Long term (mortgages) 4419.1 4392.0 4531.0 4778.4 5070.6 5282.7 5442.5 5655.7 108

109 FL703081005 Equity and investment fund shares 460.5 532.0 505.1 453.7 465.4 558.0 479.5 570.3 109

110 LM703064105 Corporate equities 71.4 99.0 106.1 97.7 104.0 127.6 109.1 147.7 110

111 LM703064205 Mutual fund shares 48.1 58.1 59.7 54.9 57.9 67.1 54.7 64.9 111

112 FL703092405 Equity in government-sponsored enterprises (2) 31.3 30.2 30.2 29.2 31.3 32.6 33.1 28.5 112

113 LM763092000 U.S. direct investment abroad 282.3 317.2 280.5 242.4 241.9 299.3 250.3 297.5 113

114 FL713164003 Stock in Federal Reserve Banks 27.4 27.5 28.6 29.5 30.4 31.4 32.3 31.7 114

115 FL763040005 Insurance, pension and standardized guarantee schemes 138.1 143.8 149.6 156.2 161.8 168.2 172.1 178.8 115

116 FL703093005 Other accounts receivable 627.5 519.0 575.3 637.2 676.1 585.9 626.4 547.4 116

117 FL702100005 Total liabilities and net worth 15341.8 16157.5 17188.1 17657.4 18366.5 19253.0 19642.3 20520.1 117

118 FL704194005 Liabilities 16182.5 17302.8 18419.1 18884.5 19896.0 20977.3 21238.2 22570.4 118

119 FL704100005 Currency and deposits 11117.2 12015.1 12664.2 13096.8 13595.9 14219.3 14839.4 15600.3 119

120 FL703127005 Checkable deposits 1630.0 1818.7 2017.5 2120.0 2226.6 2410.2 2466.1 2637.8 120

121 FL703130205 Other deposits 9487.2 10196.3 10646.7 10976.8 11369.3 11809.1 12373.4 12962.5 121

122 FL704122005 Debt securities 546.0 407.3 359.7 344.3 326.7 261.3 288.2 248.2 122

123 FL763163005 Corporate bonds 301.9 227.6 208.2 198.7 182.7 147.7 160.0 141.3 123

124 FL703169175 Commercial paper 244.1 179.7 151.5 145.6 143.9 113.6 128.3 106.9 124

125 FL704141005 Loans (short term) 1036.6 1019.1 1111.1 1146.8 1249.0 1364.4 1281.8 1254.3 125

126 FL703181105 Equity and investment fund shares 2901.4 3257.1 3513.4 3534.4 3950.7 4281.7 4025.6 4568.3 126

127 LM763164103 Corporate equity issues 633.6 846.1 930.2 932.0 1132.8 1335.1 1084.5 1463.0 127

128 LM753192003 Foreign direct investment in the United States 255.3 320.2 304.1 282.3 320.9 371.2 317.5 382.3 128

129 FL703194005 Investment by parent 2012.6 2090.8 2279.1 2320.1 2497.0 2575.4 2623.6 2723.0 129

130 FL703196005 Other accounts payable 581.3 604.3 770.8 762.2 773.8 850.7 803.1 899.2 130

131 FL702090095 Net worth -840.7 -1145.3 -1231.0 -1227.1 -1529.5 -1724.2 -1595.9 -2050.3 131

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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 Current account

 1 FA526902505 Gross value added 269.1 234.3 326.8 394.8 417.7 400.5 435.9 478.7 1

 2 FA526300081 Less: Consumption of fixed capital 27.2 29.3 31.0 32.1 33.8 35.2 36.7 39.0 2

 3 FA526902605 Equals: Net value added 241.9 205.0 295.9 362.7 383.9 365.3 399.2 439.8 3

 4 FA526025005 Compensation of employees (paid) 132.1 133.9 138.4 143.7 143.4 150.4 155.5 163.1 4

 5 FA526020001 Wages and salaries 112.1 113.3 117.4 121.8 121.2 127.3 131.5 138.9 5

 6 FA526401001 Employers’ social contributions 20.1 20.6 21.0 21.9 22.2 23.1 24.0 24.2 6

 7 FA526240101 Taxes on production and imports less subsidies 22.9 23.9 33.9 38.6 40.3 31.7 46.0 32.2 7

 8 FA526402101 Operating surplus, net 86.9 47.2 123.6 180.4 200.2 183.1 197.7 244.5 8

 9 FA526140005 Net national income/Balance of primary incomes, net 11.5 5.9 56.4 72.1 100.8 98.7 123.6 160.8 9

10 FA526402101 Operating surplus, net 86.9 47.2 123.6 180.4 200.2 183.1 197.7 244.5 10

11 FA526150105 Property income (received) 265.0 284.7 290.7 277.0 272.8 292.2 316.2 290.8 11

12 FA526130101 Interest 238.7 255.9 262.5 254.0 256.9 268.3 273.5 277.0 12

13 FA526121101 Distributed income of corporations (dividends) 15.5 16.2 17.2 18.9 17.9 18.2 46.7 13.3 13

14 FA523092281 Reinvested earnings on U.S. direct investment abroad 10.8 12.6 11.0 4.1 -2.1 5.6 -4.0 0.5 14

15 FA526150005 Less: Uses of property income (paid) 340.4 326.0 357.9 385.4 372.1 376.6 390.4 374.4 15

16 FA526130001 Interest 314.8 300.4 335.6 358.4 342.6 343.8 352.0 350.3 16

17 FA526120005 Distributed income of corporations 22.8 23.4 20.1 18.8 22.9 32.5 28.2 15.1 17

18 FA526121001 Dividends 19.1 18.4 15.1 14.4 18.6 28.7 24.5 11.8 18

19 FA526122001 Withdrawals from income of quasi-corporations (1) 3.7 5.1 5.0 4.5 4.3 3.7 3.8 3.3 19

20 FA523192281 Reinvested earnings on foreign direct investment 2.9 2.2 2.3 8.1 6.6 0.3 10.2 9.0 20

21 FA526112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA526140005 Net national income/Balance of primary incomes, net 11.5 5.9 56.4 72.1 100.8 98.7 123.6 160.8 22

23 FA526220001 Less: Current taxes on income, wealth, etc. (paid) 28.5 33.1 38.5 42.2 38.3 26.9 28.5 25.0 23

24 FA526403001 Less: Other current transfers (paid) -69.3 -70.2 -42.6 -12.3 29.3 -1.0 16.9 42.5 24

25 FA526012005 Equals: Disposable income, net 52.3 43.0 60.5 42.2 33.2 72.8 78.2 93.4 25

26 FA526012005 Equals: Net saving 52.3 43.0 60.5 42.2 33.2 72.8 78.2 93.4 26

 Capital account

27 FA526006385 Net saving less capital transfers 38.0 43.0 60.5 42.2 33.2 12.7 61.3 93.4 27

28 FA526012005 Net saving 52.3 43.0 60.5 42.2 33.2 72.8 78.2 93.4 28

29 FA525440083 Less: Capital transfers paid (net) 14.3 0.0 0.0 0.0 0.0 60.2 16.9 0.0 29

30 FA525015085 Capital formation, net 0.7 4.0 0.7 5.9 5.1 3.3 4.1 5.0 30

31 FA525013081 Gross fixed capital formation (nonresidential) 27.8 33.3 31.7 38.0 38.9 38.6 40.8 43.9 31

32 FA526300081 Less: Consumption of fixed capital 27.2 29.3 31.0 32.1 33.8 35.2 36.7 39.0 32

33 FA525000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 37.3 39.0 59.8 36.3 28.1 9.3 57.2 88.4 33

 Financial account

34 FA525000995 Net lending (+) or borrowing (-) (line 33) 37.3 39.0 59.8 36.3 28.1 9.3 57.2 88.4 34

35 FA524090005 Net acquisition of financial assets 123.4 122.7 175.3 239.1 216.0 180.8 246.1 201.9 35

36 FA523020005 Currency and deposits 14.0 -15.2 11.6 7.1 -15.0 21.9 -2.1 21.4 36

37 FA524022005 Debt securities 44.7 132.4 93.9 120.8 181.1 110.1 132.8 154.3 37

38 FA523069105 Open market paper 17.0 11.0 -8.7 -6.7 13.3 -17.5 -7.1 -3.9 38

39 FA523061105 Treasury securities -2.3 -7.7 20.6 5.8 31.9 33.2 -20.8 -13.4 39

40 FA523061705 Agency- and GSE-backed securities (2) -25.1 -12.7 -13.2 -8.6 15.7 12.3 21.8 4.9 40

41 FA523062005 Municipal securities 1.1 8.1 -8.2 18.4 10.7 -3.8 -41.4 -5.7 41

42 FA523063005 Corporate and foreign bonds 53.9 133.6 103.4 111.7 109.6 85.8 180.3 172.4 42

43 FA524035005 Loans 16.3 19.5 32.0 43.7 39.9 47.8 64.3 54.6 43

44 FA524041005 Short term 3.3 -2.2 8.0 -1.3 2.4 4.3 0.1 1.2 44

45 FA523065005 Long term (mortgages) 13.1 21.7 24.0 45.0 37.5 43.6 64.1 53.4 45

46 FA523081005 Equity and investment fund shares 7.3 -26.7 -42.3 3.3 -91.9 -58.5 -104.3 -79.7 46

47 FA523064105 Corporate equities 3.3 -8.8 -21.9 25.5 -21.6 3.9 -24.4 -0.7 47

48 FA523064205 Mutual fund shares 1.7 -19.6 -32.8 -30.1 -48.1 -74.6 -88.1 -86.4 48

49 FA523034005 Money market fund shares -4.0 -13.9 2.4 6.2 -20.3 7.6 9.4 6.1 49

50 FA523092405 Equity in government-sponsored enterprises (2) 0.1 0.9 0.1 0.5 0.4 0.4 0.5 0.6 50

51 FA523092005 U.S. direct investment abroad 6.3 14.8 9.9 1.2 -2.2 4.3 -1.7 0.7 51

52 FA523052005 Insurance, pension and standardized guarantee schemes 30.3 27.9 1.8 30.8 55.2 84.9 79.2 29.7 52

53 FA523096005 Other accounts receivable 10.8 -15.1 78.2 33.4 46.8 -25.4 76.2 21.5 53

54 FA524190005 Net incurrence of liabilities 131.6 126.9 138.9 170.6 239.4 216.0 148.8 207.5 54

55 FA673090543 Currency and deposits (funding agreements) -0.4 -8.5 6.0 2.4 6.4 7.7 4.5 5.0 55

56 FA524141005 Loans (short term) 4.9 8.7 2.5 6.2 9.9 6.2 9.3 1.2 56
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57 FA523181105 Equity and investment fund shares -2.6 -12.4 -28.7 6.9 9.0 -25.3 -14.5 -11.7 57

58 FA523164105 Corporate equity issues -24.5 -16.8 -31.8 -32.0 -25.2 -28.9 -21.6 -24.9 58

59 FA523192005 Foreign direct investment in the United States 9.9 12.0 2.3 39.3 33.1 0.6 16.9 11.3 59

60 FA523194735 Investment by parent 12.0 -7.6 0.9 -0.3 1.1 3.1 -9.8 2.0 60

61 FA523152005 Insurance, pension and standardized guarantee schemes 106.0 115.8 112.6 172.8 167.0 144.8 152.7 119.6 61

62 FA523196005 Other accounts payable 23.7 23.3 46.5 -17.9 47.1 82.6 -3.3 93.4 62

 Addendum:

63 FA525000005 Net lending (+) or borrowing (-), financial account (lines 35-54) -8.2 -4.2 36.4 68.5 -23.4 -35.1 97.3 -5.6 63

 Other changes in volume account

64 FV528090185 Total other volume changes -65.6 -47.9 -23.8 32.7 -50.7 -47.1 43.4 -106.0 64

65 FV522010095 Disaster losses -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 65

66 FV528090085 Other volume changes -19.9 -4.7 -0.4 0.6 0.8 -2.6 3.3 -11.9 66

67 FU527005045 Less: Statistical discrepancy (lines 33-63) (3) 45.5 43.2 23.4 -32.2 51.4 44.5 -40.1 94.0 67

 Revaluation account

68 FR522010095 Nonfinancial assets 1.5 4.2 2.8 1.2 1.4 4.6 8.6 5.4 68

69 FR525013665 Structures (nonresidential) 2.2 4.6 3.4 2.8 2.3 4.9 8.3 5.9 69

70 FR525013265 Equipment -0.0 -0.3 -0.1 -0.7 -0.5 0.2 0.3 -0.4 70

71 FR525013765 Intellectual property products -0.6 -0.1 -0.5 -0.9 -0.5 -0.4 -0.1 -0.1 71

72 FR524090085 Financial assets 306.7 184.7 272.4 -264.3 184.2 483.3 -402.4 976.2 72

73 FR524022005 Debt securities 81.9 -206.8 148.4 -168.7 27.2 101.4 -194.6 436.2 73

74 FR523064105 Corporate equities 69.5 145.2 43.4 -26.5 50.9 120.4 -79.1 208.9 74

75 FR523064205 Mutual fund shares 128.5 224.8 76.2 -31.4 91.1 211.8 -84.6 287.6 75

76 FR523092005 U.S. direct investment abroad 26.8 21.5 4.3 -37.8 15.0 49.8 -44.1 43.5 76

77 FR524190085 Liabilities 234.6 387.4 210.7 -52.3 167.6 432.3 -240.9 580.6 77

78 FR523164105 Corporate equity issues 79.5 122.2 59.1 -11.0 66.8 88.8 -62.9 144.5 78

79 FR523192005 Foreign direct investment in the United States -14.9 -17.5 30.7 18.5 -11.9 55.7 -58.0 40.8 79

80 FR523194735 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 FR523152005 Insurance, pension and standardized guarantee schemes 170.1 282.7 121.0 -59.8 112.6 287.8 -120.1 395.3 81

82 FR528200005 Changes in net worth due to nominal holding gains/losses 73.6 -198.5 64.5 -210.8 18.1 55.6 -152.9 401.0 82

 Changes in balance sheet account

83 FC522090095 Change in net worth (lines 30+33+64+82) 46.0 -203.4 101.2 -135.8 0.6 21.2 -48.2 388.4 83

 Balance sheet account (end of period)

84 FL522000095 Total assets 8548.4 8863.4 9315.7 9297.7 9738.0 10409.4 10265.6 11454.6 84

85 LM522010095 Nonfinancial assets (4) 240.9 248.6 253.2 260.4 266.9 274.2 286.8 297.3 85

86 LM525013665 Structures (nonresidential) 151.8 154.5 157.3 161.8 164.2 169.1 177.0 182.6 86

87 LM525013265 Equipment 45.3 45.8 45.8 45.7 45.7 45.8 46.6 46.6 87

88 LM525013765 Intellectual property products 43.8 48.2 50.1 53.0 57.0 59.3 63.2 68.0 88

89 FL524090005 Financial assets 8307.5 8614.9 9062.5 9037.3 9471.1 10135.3 9978.8 11157.3 89

90 FL523020005 Currency and deposits 101.7 86.5 98.1 105.2 101.1 123.0 120.9 142.3 90

91 LM524022005 Debt securities 4136.9 4062.5 4304.8 4256.9 4471.5 4682.9 4621.1 5211.7 91

92 FL523069105 Open market paper 58.0 69.0 60.3 53.6 66.9 49.4 42.3 38.4 92

93 LM523061105 Treasury securities 298.0 274.5 310.5 310.1 334.2 377.9 360.5 368.7 93

94 LM523061705 Agency- and GSE-backed securities (2) 523.0 485.4 504.2 477.4 480.8 501.7 491.8 538.1 94

95 LM523062005 Municipal securities 504.4 497.4 520.2 534.8 535.9 536.7 481.6 500.2 95

96 LM523063005 Corporate and foreign bonds 2753.5 2736.1 2909.7 2880.9 3053.6 3217.3 3244.9 3766.2 96

97 FL524035005 Loans 514.1 533.5 565.5 609.2 649.1 697.0 761.2 815.8 97

98 FL524041005 Short term 161.3 159.1 167.1 165.8 168.2 172.5 172.6 173.8 98

99 FL523065005 Long term (mortgages) 352.8 374.5 398.4 443.4 480.9 524.5 588.6 642.0 99

100 FL523081005 Equity and investment fund shares 2211.1 2575.9 2657.6 2565.2 2630.3 2953.8 2641.7 3102.0 100

101 LM523064105 Corporate equities 722.9 859.3 880.9 879.9 909.2 1033.4 929.9 1138.1 101

102 LM523064205 Mutual fund shares 1229.4 1434.6 1477.9 1416.5 1459.5 1596.7 1424.0 1625.2 102

103 FL523034005 Money market fund shares 85.9 71.9 74.4 80.5 60.2 67.8 77.2 83.3 103

104 FL523092405 Equity in government-sponsored enterprises (2) 2.1 3.0 3.1 3.5 3.9 4.3 4.8 5.4 104

105 LM523092005 U.S. direct investment abroad 170.8 207.1 221.3 184.7 197.5 251.5 205.7 250.0 105

106 FL523052005 Insurance, pension and standardized guarantee schemes 579.5 607.4 609.2 640.1 695.3 780.2 859.3 889.4 106

107 FL523096005 Other accounts receivable 764.2 749.1 827.3 860.7 923.8 898.4 974.7 996.2 107
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108 FL522100005 Total liabilities and net worth 8548.4 8863.4 9315.7 9297.7 9738.0 10409.4 10265.6 11454.6 108

109 FL524194005 Liabilities 7558.0 8076.4 8427.5 8545.3 8985.0 9635.2 9539.6 10340.2 109

110 FL673090543 Currency and deposits (funding agreements) 55.6 47.1 53.1 55.5 61.9 69.6 74.1 79.1 110

111 FL524141005 Loans (short term) 65.9 74.6 77.0 83.3 93.2 99.4 108.7 109.9 111

112 FL523181105 Equity and investment fund shares 623.2 710.6 771.7 786.2 850.2 969.3 833.9 1007.5 112

113 LM523164105 Corporate equity issues 392.2 497.6 524.9 481.9 523.5 583.3 498.9 618.5 113

114 LM523192005 Foreign direct investment in the United States 202.6 197.0 230.0 287.8 309.1 365.4 324.2 376.3 114

115 FL523194735 Investment by parent 28.4 15.9 16.8 16.5 17.6 20.6 10.8 12.8 115

116 FL523152005 Insurance, pension and standardized guarantee schemes 6194.6 6593.2 6826.8 6939.9 7237.0 7669.6 7702.2 8217.2 116

117 FL523196005 Other accounts payable 618.6 650.9 698.8 680.4 742.8 827.3 820.6 926.5 117

118 FL522090095 Net worth 990.4 787.0 888.2 752.4 753.0 774.3 726.1 1114.4 118

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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2012 2013 2014 2015 2016 2017 2018 2019

 

 Current account

 1 FA596902505 Gross value added 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA596300081 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA596902605 Equals: Net value added 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FA596025005 Compensation of employees (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA596020001 Wages and salaries 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA596401001 Employers’ social contributions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FA596240101 Taxes on production and imports less subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA596402101 Operating surplus, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA596140005 Net national income/Balance of primary incomes, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 FA596402101 Operating surplus, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 FA596150105 Property income (received) 579.0 595.5 608.8 626.4 636.2 653.0 678.2 690.4 11

12 FA596130101 Interest 450.3 453.4 455.6 465.8 469.4 475.1 490.8 496.8 12

13 FA596121101 Distributed income of corporations (dividends) 128.7 142.1 153.2 160.5 166.8 177.9 187.4 193.5 13

14 FA593092281 Reinvested earnings on U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 FA596150005 Less: Uses of property income (paid) 579.0 595.5 608.8 626.4 636.2 653.0 678.2 690.4 15

16 FA596130001 Interest 450.3 453.4 455.6 465.8 469.4 475.1 490.8 496.8 16

17 FA596120005 Distributed income of corporations 128.7 142.1 153.2 160.5 166.8 177.9 187.4 193.5 17

18 FA596121001 Dividends 128.7 142.1 153.2 160.5 166.8 177.9 187.4 193.5 18

19 FA596122001 Withdrawals from income of quasi-corporations (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA593192281 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 FA596112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA596140005 Net national income/Balance of primary incomes, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA596220001 Less: Current taxes on income, wealth, etc. (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 FA596403105 Plus: Other current transfers received, net 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 24

25 FA596012005 Equals: Disposable income, net 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 25

26 FA596012005 Equals: Net saving 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 26

 Capital account

27 FA596006385 Net saving less capital transfers 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 27

28 FA596012005 Net saving 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 28

29 FA595440083 Less: Capital transfers (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 FA595015085 Capital formation, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 FA595013081 Gross fixed capital formation (nonresidential) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 FA596300081 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 FA595000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 33

 Addenda:

34 FA596403105 Other current transfers received, net (line 24) 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 34

35 FA596403115 Contributions received 1303.0 1378.3 1423.8 1475.4 1514.9 1570.2 1630.7 1678.2 35

36 FA596403125 Claims to pension benefits 729.1 788.5 821.2 855.6 885.6 924.8 959.9 996.7 36

37 FA596403133 Actual employer contributions 538.9 547.1 557.5 591.9 628.7 689.3 653.2 675.3 37

38 FA596403143 Imputed employer contributions -99.2 -65.2 -64.3 -90.0 -114.6 -161.7 -107.2 -113.9 38

39 FA596403153 Actual household contributions 311.1 329.8 352.8 380.2 400.6 428.7 445.8 468.6 39

40 FA596403013 Less: pension service charges for defined benefit (DB) plans 21.7 23.1 24.8 26.5 29.1 31.4 31.8 33.4 40

41 FA596403163 Household pension contribution supplements 579.0 595.5 608.8 626.4 636.2 653.0 678.2 690.4 41

42 FA596403023 Less: pension service charge for defined contribution (DC) plans 5.1 5.7 6.1 6.5 6.8 7.5 7.4 8.8 42

43 FA596403033 Less: benefit payments and withdrawals 943.6 1049.5 1107.6 1160.5 1176.5 1247.4 1306.8 1377.5 43

44 FA596403043 Less: net change in benefit entitlements from DB plans 212.7 201.7 195.3 173.6 171.5 155.0 159.3 149.8 44

45 FA596403053 Less: net change in assets from current transaction for DC plans 146.7 127.1 121.0 141.3 166.8 167.9 164.6 150.9 45

 Financial account

46 FA595000995 Net lending (+) or borrowing (-) (line 33) 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 46

47 FA594090005 Net acquisition of financial assets 464.0 470.5 319.2 325.3 332.9 485.0 295.8 413.2 47

48 FA594000005 Currency and deposits 1.7 9.8 6.9 -0.5 -1.0 -2.3 -12.3 7.4 48

49 FA593020005 Currency and transferable deposits 3.9 3.7 5.8 3.6 -0.8 -5.6 -6.9 2.9 49

50 FA593030005 Time and savings deposits -2.3 6.1 1.2 -4.1 -0.2 3.3 -5.4 4.5 50

51 FA594022005 Debt securities 252.6 239.3 237.1 85.4 156.2 115.0 448.5 101.2 51

52 FA593069105 Open market paper -1.7 10.2 0.5 -3.6 11.2 1.6 -7.2 -5.5 52

53 FA593061105 Treasury securities 148.4 122.9 113.4 56.3 170.0 33.5 388.3 135.2 53

54 FA593061705 Agency- and GSE-backed securities (2) -11.6 -5.4 20.0 -11.7 10.9 34.2 25.5 43.7 54

55 FA593062045 Municipal securities 0.1 0.9 -0.2 0.1 0.2 0.7 0.7 -0.9 55

56 FA593063005 Corporate and foreign bonds 117.5 110.7 103.4 44.3 -36.2 45.0 41.2 -71.4 56
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57 FA594035005 Loans -1.1 -3.9 3.4 -2.5 7.7 148.6 -149.8 20.3 57

58 FA594041005 Short term -0.1 0.8 0.1 -0.3 0.9 151.8 -152.3 19.5 58

59 FA593065005 Long term (mortgages) -1.1 -4.7 3.4 -2.2 6.8 -3.2 2.6 0.8 59

60 FA593081005 Equity and investment fund shares -73.1 -256.7 -213.5 7.8 -229.2 -68.6 -198.3 -266.2 60

61 FA593064105 Corporate equities -40.2 -424.5 -271.5 -6.6 -212.6 -108.5 -183.9 -234.8 61

62 FA593064205 Mutual fund shares -18.7 149.4 59.6 17.2 -32.1 42.4 -11.7 -32.8 62

63 FA593034005 Money market fund shares -14.2 18.5 -1.6 -2.8 15.5 -2.4 -2.8 1.4 63

64 FA593052025 Insurance, pension and standardized guarantee schemes 252.7 452.1 256.5 247.1 335.5 174.0 215.4 265.8 64

65 FA593093005 Other accounts receivable 31.3 29.9 28.8 -12.0 63.7 118.2 -7.7 284.8 65

66 FA594190005 Net incurrence of liabilities (pension entitlements) 464.6 470.2 319.0 325.2 333.0 485.1 295.8 413.2 66

 Addendum:

67 FA595000005 Net lending (+) or borrowing (-), financial account (lines 47-66) -0.6 0.3 0.2 0.1 -0.1 -0.1 0.1 -0.0 67

 Other changes in volume account

68 FV598090185 Total other volume changes 0.0 -0.0 0.0 0.0 -0.0 -0.0 0.0 -26.5 68

69 FV592010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 69

70 FV598090085 Other volume changes 0.6 -0.3 -0.2 -0.1 0.1 0.1 -0.1 -26.5 70

71 FU597005045 Less: Statistical discrepancy (lines 33-67) (3) 0.6 -0.3 -0.2 -0.1 0.1 0.1 -0.1 0.0 71

 Revaluation account

72 FR592010095 Nonfinancial assets 0.1 0.2 0.1 0.1 0.1 0.2 0.3 0.2 72

73 FR595013665 Structures (nonresidential) 0.1 0.2 0.2 0.1 0.1 0.2 0.3 0.2 73

74 FR595013265 Equipment -0.0 -0.0 -0.0 -0.0 -0.0 0.0 0.0 -0.0 74

75 FR595013765 Intellectual property products -0.0 0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 75

76 FR594090085 Financial assets 379.0 685.6 267.5 -89.3 394.1 815.7 -396.5 1172.1 76

77 FR594022005 Debt securities 25.9 -107.0 47.6 -56.9 12.6 23.7 -94.9 169.2 77

78 FR593064105 Corporate equities 498.3 1125.6 372.0 -90.6 414.1 940.3 -341.5 1266.1 78

79 FR593064205 Mutual fund shares 295.8 458.4 146.8 -89.0 250.3 555.8 -316.9 762.1 79

80 FR593052025 Insurance, pension, and standardized guarantee schemes -441.0 -791.5 -298.8 147.3 -282.9 -704.2 356.7 -1025.4 80

81 FR594190005 Liabilities (pension entitlements) 392.3 706.9 277.7 -104.0 363.9 789.7 -412.1 1201.0 81

82 FR598200005 Changes in net worth due to nominal holding gains/losses -13.2 -21.1 -10.1 14.8 30.3 26.1 16.0 -28.7 82

 Changes in balance sheet account

83 FC592090095 Change in net worth (lines 30+33+68+82) -13.2 -21.1 -10.1 14.8 30.3 26.1 16.0 -55.2 83

 Balance sheet account (end of period)

84 FL592000095 Total assets 17156.6 19410.6 20114.8 20420.9 21234.1 22641.1 22601.3 24240.9 84

85 LM592010095 Nonfinancial assets (4) 8.2 8.1 8.0 8.0 8.2 8.5 8.8 9.0 85

86 LM595013665 Structures (nonresidential) 6.7 6.7 6.7 6.7 6.7 6.8 7.2 7.5 86

87 LM595013265 Equipment 0.5 0.5 0.4 0.4 0.4 0.5 0.5 0.4 87

88 LM595013765 Intellectual property products 1.0 0.9 0.8 0.9 1.1 1.2 1.1 1.1 88

89 FL594090005 Financial assets 17148.5 19402.6 20106.8 20412.9 21226.0 22632.6 22592.5 24231.9 89

90 FL594000005 Currency and deposits 77.7 87.4 94.3 93.9 92.8 90.5 78.2 72.5 90

91 FL593020005 Currency and transferable deposits 46.3 50.0 55.8 59.4 58.6 53.0 46.1 38.1 91

92 FL593030005 Time and savings deposits 31.4 37.4 38.6 34.5 34.3 37.5 32.1 34.3 92

93 LM594022005 Debt securities 3346.8 3479.2 3763.8 3792.3 3961.2 4099.9 4453.5 4740.2 93

94 FL593069105 Open market paper 77.0 87.2 87.7 84.0 95.3 96.9 89.7 48.5 94

95 LM593061105 Treasury securities 1907.5 1998.5 2127.5 2176.1 2337.3 2370.4 2779.0 2923.8 95

96 LM593061705 Agency- and GSE-backed securities (2) 285.4 263.7 289.6 268.0 277.2 312.4 356.0 410.2 96

97 LM593062045 Municipal securities 1.7 2.4 2.4 2.5 2.7 3.4 4.1 0.1 97

98 LM593063005 Corporate and foreign bonds 1075.2 1127.4 1256.7 1261.7 1248.7 1316.7 1224.8 1357.7 98

99 FL594035005 Loans 39.4 35.6 39.0 36.5 44.2 192.8 43.1 59.2 99

100 FL594041005 Short term 6.0 6.8 6.8 6.5 7.5 159.3 7.0 25.4 100

101 FL593065005 Long term (mortgages) 33.5 28.8 32.2 30.0 36.8 33.6 36.1 33.8 101

102 FL593081005 Equity and investment fund shares 7009.6 8336.9 8642.2 8470.3 8905.5 10333.0 9476.3 10803.3 102

103 LM593064105 Corporate equities 4006.4 4707.5 4808.0 4710.8 4912.2 5744.0 5218.6 6004.7 103

104 LM593064205 Mutual fund shares 2809.3 3417.1 3623.5 3551.7 3769.8 4368.0 4039.5 4618.1 104

105 FL593034005 Money market fund shares 193.8 212.3 210.7 207.9 223.4 221.0 218.2 180.6 105

106 FL593052025 Insurance, pension and standardized guarantee schemes 5932.3 6690.9 6766.1 7230.5 7369.2 6945.1 7577.8 6935.1 106
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Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

107 FL593093005 Other accounts receivable 742.7 772.6 801.3 789.4 853.1 971.3 963.6 1621.5 107

108 FL592000095 Total liabilities and net worth 17156.6 19410.6 20114.8 20420.9 21234.1 22641.1 22601.3 24240.9 108

109 FL594190005 Liabilities (pension entitlements) 17309.7 19584.8 20299.1 20590.4 21373.3 22754.1 22698.4 24393.2 109

110 FL592090095 Net worth -153.1 -174.2 -184.3 -169.5 -139.2 -113.0 -97.1 -152.3 110

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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178 Z.1, September 21, 2020

S.65.a Other Financial Business (1)

Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

 Current account

 1 FA856902505 Gross value added 646.5 633.3 677.4 641.9 676.7 696.9 720.6 718.1 1

 2 FA856300085 Less: Consumption of fixed capital 111.6 118.3 125.2 132.1 139.6 146.4 152.4 159.7 2

 3 FA856902605 Equals: Net value added 535.0 515.0 552.3 509.8 537.1 550.5 568.2 558.4 3

 4 FA856025005 Compensation of employees (paid) 328.5 334.5 370.8 389.4 406.5 451.3 451.8 473.4 4

 5 FA856020005 Wages and salaries 279.8 284.3 318.0 333.5 347.0 382.9 382.2 404.5 5

 6 FA856401005 Employers’ social contributions 48.6 50.1 52.8 55.9 59.5 68.4 69.6 68.9 6

 7 FA856240105 Taxes on production and imports less subsidies 24.5 23.2 19.3 18.5 23.6 26.3 24.3 24.7 7

 8 FA856402105 Operating surplus, net 182.0 157.3 162.2 101.9 107.1 72.9 92.1 60.4 8

 9 FA856140005 Net national income/Balance of primary incomes, net 96.1 -58.7 -23.5 -68.2 -28.0 -122.4 -48.0 10.4 9

10 FA856402105 Operating surplus, net 182.0 157.3 162.2 101.9 107.1 72.9 92.1 60.4 10

11 FA856150105 Property income (received) 857.2 804.1 810.7 835.0 907.1 1026.3 1252.9 1348.5 11

12 FA856130105 Interest 617.6 522.9 508.4 521.2 590.5 664.4 789.1 952.0 12

13 FA856121105 Distributed income of corporations (dividends) 212.8 253.6 277.2 281.1 280.8 326.3 487.5 376.5 13

14 FA853092285 Reinvested earnings on U.S. direct investment abroad 26.9 27.6 25.1 32.6 35.9 35.6 -23.8 20.1 14

15 FA856150005 Less: Uses of property income (paid) 943.2 1020.1 996.4 1005.1 1042.2 1221.6 1393.0 1398.5 15

16 FA856130005 Interest 592.2 536.2 540.4 568.0 596.7 707.8 855.3 953.5 16

17 FA856120005 Distributed income of corporations 343.0 476.4 448.3 435.9 443.0 503.5 533.1 439.7 17

18 FA856121005 Dividends 276.2 427.3 430.5 426.5 400.3 448.1 496.3 402.2 18

19 FA856122005 Withdrawals from income of quasi-corporations (2) 66.8 49.1 17.8 9.4 42.7 55.4 36.9 37.4 19

20 FA853192285 Reinvested earnings on foreign direct investment 8.0 7.5 7.6 1.2 2.5 10.4 4.6 5.3 20

21 FA856112005 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA856140005 Net national income/Balance of primary incomes, net 96.1 -58.7 -23.5 -68.2 -28.0 -122.4 -48.0 10.4 22

23 FA856220005 Less: Current taxes on income, wealth, etc. (paid) 31.1 41.2 40.5 34.9 41.1 37.5 32.4 34.2 23

24 FA856403005 Less: Other current transfers (paid) 43.5 46.7 48.8 32.1 35.0 26.2 23.6 0.6 24

25 FA856012005 Equals: Disposable income, net 21.4 -146.6 -112.7 -135.2 -104.0 -186.1 -104.1 -24.4 25

26 FA856012005 Equals: Net saving 21.4 -146.6 -112.7 -135.2 -104.0 -186.1 -104.1 -24.4 26

 Capital account

27 FA856006385 Net saving less capital transfers 26.2 -146.6 -122.7 -135.2 -105.8 -218.9 -104.1 -24.4 27

28 FA856012005 Net saving 21.4 -146.6 -112.7 -135.2 -104.0 -186.1 -104.1 -24.4 28

29 FA855440085 Less: Capital transfers paid (net) -4.7 0.0 10.0 0.0 1.8 32.8 0.0 0.0 29

30 FA855015085 Capital formation, net 22.7 22.8 32.2 34.3 38.3 25.9 27.0 28.9 30

31 FA855013085 Gross fixed capital formation (nonresidential) 134.2 141.1 157.4 166.4 177.8 172.3 179.4 188.6 31

32 FA856300085 Less: Consumption of fixed capital 111.6 118.3 125.2 132.1 139.6 146.4 152.4 159.7 32

33 FA855000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 3.5 -169.4 -154.9 -169.5 -144.1 -244.8 -131.1 -53.3 33

 Financial account

34 FA855000995 Net lending (+) or borrowing (-) (line 33) 3.5 -169.4 -154.9 -169.5 -144.1 -244.8 -131.1 -53.3 34

35 FA854090005 Net acquisition of financial assets 1152.1 304.9 684.6 338.3 1051.6 1371.3 1114.1 1849.5 35

36 FA854000005 Currency and deposits 28.2 59.0 -7.1 -154.7 -233.8 71.0 -72.3 116.4 36

37 FA854022005 Debt securities 491.1 -168.2 -108.4 192.8 588.0 512.4 687.5 806.0 37

38 FA853069175 Open market paper -9.8 -11.5 -35.1 19.2 -111.7 111.8 17.8 -31.9 38

39 FA853061105 Treasury securities 118.5 -96.4 50.2 263.0 459.5 146.3 473.2 344.0 39

40 FA853061705 Agency- and GSE-backed securities (3) 112.3 -166.1 -155.5 -108.5 192.0 28.9 14.1 238.6 40

41 FA853062005 Municipal securities 46.9 -90.7 -16.6 -16.1 -28.9 29.6 33.1 103.3 41

42 FA853063005 Corporate and foreign bonds 223.2 196.4 48.6 35.2 77.0 195.7 149.3 152.0 42

43 FA854035005 Loans 165.7 -107.2 154.2 79.8 291.2 628.7 499.0 586.2 43

44 FA854041005 Short term 265.8 -187.5 141.1 -4.5 131.3 301.4 159.4 256.4 44

45 FA813065005 Long term (mortgages) -100.1 80.3 13.1 84.3 159.9 327.4 339.6 329.7 45

46 FA813081005 Equity and investment fund shares 614.9 458.4 499.3 351.3 544.9 145.5 137.9 176.2 46

47 FA813064105 Corporate equities 89.8 408.4 288.3 214.5 71.5 187.1 69.5 -73.6 47

48 FA503034005 Money market fund shares 2.8 -7.4 16.6 -16.8 105.2 7.4 15.6 55.7 48

49 FA813092405 Equity in government-sponsored enterprises (3) 0.0 0.1 0.3 1.2 -0.5 -0.4 -0.2 -0.0 49

50 FA803092005 U.S. direct investment abroad 15.8 9.9 18.2 23.5 54.5 26.4 -11.5 31.1 50

51 FA793094005 Investment in subsidiaries 506.4 47.4 175.9 129.0 314.2 -75.0 64.4 163.0 51

52 FA733040005 Insurance, pension and standardized guarantee schemes 7.3 5.1 5.0 4.1 4.0 4.0 4.0 4.0 52

53 FA853096005 Other accounts receivable -155.0 57.9 141.6 -134.9 -142.6 9.5 -142.0 160.7 53

54 FA854190005 Net incurrence of liabilities 1084.2 281.1 689.5 247.0 953.6 1210.7 891.8 1609.7 54

55 FA403197033 Currency and deposits 1.2 -3.2 -1.5 -0.5 -0.4 -0.3 -0.2 2.8 55
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2012 2013 2014 2015 2016 2017 2018 2019

 

56 FA814122005 Debt securities -58.5 167.5 167.3 162.1 406.6 405.2 331.7 484.8 56

57 FA423161705 Agency- and GSE-backed securities (3) -23.8 238.3 150.3 220.4 351.7 346.9 246.9 319.5 57

58 FA813163005 Corporate bonds 18.8 -54.0 56.4 -23.7 52.5 64.7 65.6 177.1 58

59 FA813169105 Commercial paper -53.5 -16.8 -39.4 -34.6 2.4 -6.4 19.2 -11.8 59

60 FA814135005 Loans 264.1 -406.3 -113.8 -229.7 -73.0 86.1 337.9 150.5 60

61 FA814141005 Short term 259.2 -426.2 -123.1 -233.7 -74.0 80.5 353.7 148.0 61

62 FA123165005 Long term (mortgages) 4.8 19.9 9.3 4.0 1.0 5.6 -15.8 2.4 62

63 FA853181005 Equity and investment fund shares 1062.5 630.8 649.4 476.0 550.1 838.1 379.9 1116.9 63

64 FA634090005 Money market fund shares 2.2 40.2 15.7 -6.7 -11.1 117.2 189.9 596.0 64

65 FA813164105 Corporate equity issues 220.0 227.7 280.8 253.3 285.6 445.0 225.2 233.2 65

66 FA653164205 Mutual fund shares 386.6 346.9 311.5 98.9 28.8 318.4 -63.3 208.2 66

67 FA403192405 Equity in government-sponsored enterprises (3) -1.8 0.5 1.2 1.3 2.7 4.2 1.1 -3.7 67

68 FA803192005 Foreign direct investment in the United States 13.2 8.4 18.7 26.6 22.4 22.9 13.9 15.7 68

69 FA662090003 Equity in noncorporate business 10.4 2.9 4.3 5.3 17.3 1.0 9.5 5.2 69

70 FA803194005 Investment by parent 431.8 4.1 17.1 97.4 204.3 -70.5 3.6 62.2 70

71 FA503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 71

72 FA813196005 Other accounts payable -185.0 -107.7 -11.9 -160.8 70.3 -118.3 -157.4 -145.3 72

 Addendum:

73 FA855000005 Net lending (+) or borrowing (-), financial account (lines 35-54) 68.0 23.7 -4.9 91.2 98.0 160.6 222.2 239.8 73

 Other changes in volume account

74 FV858090185 Total other volume changes 390.3 272.7 -48.4 240.6 418.5 151.8 375.5 28.9 74

75 FV812010095 Disaster losses -1.3 0.0 0.0 0.0 0.0 -1.8 -2.4 0.0 75

76 FV858090085 Other volume changes 327.2 79.6 -198.4 -20.1 176.4 -251.7 24.6 -264.2 76

77 FU857005045 Less: Statistical discrepancy (lines 33-72) (4) -64.5 -193.1 -150.0 -260.7 -242.1 -405.4 -353.3 -293.0 77

 Revaluation account

78 FR812010095 Nonfinancial assets 11.5 16.8 14.2 8.3 8.8 18.3 35.7 20.8 78

79 FR815013665 Structures (nonresidential) 9.3 17.4 13.7 11.3 10.9 19.8 32.5 22.2 79

80 FR815013265 Equipment 2.7 -0.6 1.1 -1.6 -1.7 -0.8 3.2 -1.1 80

81 FR815013765 Intellectual property products -0.5 0.0 -0.5 -1.4 -0.5 -0.6 -0.0 -0.3 81

82 FR854090085 Financial assets 1068.6 1654.6 762.0 -596.6 704.4 2441.5 -1710.9 3682.0 82

83 FR854022005 Debt securities 96.4 -309.8 142.3 -157.3 -6.5 66.3 -220.6 403.4 83

84 FR813064105 Corporate equities 944.9 1971.4 560.0 -339.4 707.4 2319.6 -1391.2 3202.7 84

85 FR803092005 U.S. direct investment abroad 27.3 -7.0 59.7 -99.9 3.5 55.7 -99.0 75.9 85

86 FR813181085 Liabilities 1514.1 2588.2 1047.2 -584.4 1175.1 2989.6 -1883.5 4290.8 86

87 FR813164105 Corporate equity issues 474.0 922.8 495.2 -201.3 492.5 972.4 -672.0 1479.9 87

88 FR653164205 Mutual fund shares 1035.5 1622.6 506.1 -352.3 689.6 1965.0 -1165.9 2781.5 88

89 FR803192005 Foreign direct investment in the United States 4.7 42.9 45.9 -30.8 -7.1 52.3 -45.6 29.4 89

90 FR662090003 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 90

91 FR803194005 Investment by parent -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91

92 FR858200005 Changes in net worth due to nominal holding gains/losses -433.9 -916.7 -271.0 -3.8 -461.9 -529.8 208.3 -588.0 92

 Changes in balance sheet account

93 FC852090095 Change in net worth (lines 30+33+73+91) -17.4 -790.6 -442.1 101.6 -149.2 -596.8 479.8 -583.5 93

 Balance sheet account (end of period)

94 FL852000095 Total assets 35917.8 37848.3 39102.7 38647.8 40488.3 44302.6 43880.1 49393.8 94

95 LM812010095 Nonfinancial assets (5) 999.8 1039.7 1082.9 1122.9 1166.3 1206.8 1264.4 1311.4 95

96 LM815013665 Structures (nonresidential) 552.6 563.7 572.7 582.2 595.3 617.6 653.9 681.1 96

97 LM815013265 Equipment 366.5 391.2 422.4 451.3 476.0 487.9 503.4 516.5 97

98 LM815013765 Intellectual property products 80.7 84.7 87.8 89.4 95.0 101.3 107.1 113.7 98

99 FL854090005 Financial assets 34918.0 36808.6 38019.8 37524.9 39322.0 43095.8 42615.7 48082.4 99

100 FL854000005 Currency and deposits 926.2 985.2 978.1 808.4 574.5 644.5 572.2 688.5 100

101 FL854022005 Debt securities 7685.2 7164.1 7198.0 7209.2 7790.7 8363.1 8832.0 10077.7 101

102 FL853069175 Open market paper 511.6 500.6 466.6 487.2 376.0 486.3 505.3 508.9 102

103 FL853061105 Treasury securities 1468.4 1298.1 1380.2 1618.9 2055.3 2200.0 2649.4 3074.4 103

104 FL853061705 Agency- and GSE-backed securities (3) 2136.1 1924.7 1788.5 1668.1 1856.5 1886.4 1898.4 2160.8 104

105 FL853062005 Municipal securities 1093.6 952.4 986.4 971.3 926.1 974.5 986.4 1127.2 105

106 FL853063005 Corporate and foreign bonds 2475.5 2488.3 2576.4 2463.7 2576.9 2815.9 2792.5 3206.5 106
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Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

107 FL854035005 Loans 12782.8 12591.8 12718.4 12622.5 12882.9 13569.4 14047.9 14620.9 107

108 FL854041005 Short term 4767.7 4568.8 4709.9 4531.7 4663.0 5045.2 5200.5 5457.0 108

109 FL813065005 Long term (mortgages) 8015.0 8023.0 8008.5 8090.9 8219.9 8524.2 8847.4 9163.9 109

110 FL813081005 Equity and investment fund shares 11945.1 14362.1 15481.1 15281.3 16496.5 18970.2 17617.9 21121.0 110

111 LM813064105 Corporate equities 7498.4 9878.2 10726.5 10601.6 11380.5 13887.2 12565.5 15694.6 111

112 FL503034005 Money market fund shares 122.2 114.9 131.4 114.6 219.8 227.2 242.8 337.6 112

113 FL813092405 Equity in government-sponsored enterprises (3) 0.1 0.2 0.5 1.6 1.1 0.7 0.6 0.6 113

114 LM803092005 U.S. direct investment abroad 447.1 450.0 527.9 451.4 509.5 591.5 481.0 588.0 114

115 FL793094005 Investment in subsidiaries 3877.3 3918.9 4094.8 4112.1 4385.6 4263.6 4328.0 4500.2 115

116 FL733040005 Insurance, pension and standardized guarantee schemes 34.9 39.9 45.0 49.0 53.0 57.0 61.0 65.0 116

117 FL853096005 Other accounts receivable 1543.8 1665.4 1599.2 1554.4 1524.4 1491.7 1484.8 1509.3 117

118 FL852100005 Total liabilities and net worth 35917.8 37848.3 39102.7 38647.8 40488.3 44302.6 43880.1 49393.8 118

119 FL854194005 Liabilities 35297.7 38018.8 39715.2 39158.8 41148.5 45559.7 44657.4 50754.6 119

120 FL403197033 Currency and deposits 13.7 10.6 9.1 8.5 8.1 7.8 7.6 10.4 120

121 FL814122005 Debt securities 12733.8 12845.4 12985.2 12914.0 13297.8 13666.5 13983.0 14460.9 121

122 FL423161705 Agency- and GSE-backed securities (3) 7535.4 7773.7 7924.0 8144.4 8496.1 8843.0 9090.0 9409.5 122

123 FL813163005 Corporate bonds 4819.9 4710.0 4739.0 4481.9 4511.6 4539.8 4590.2 4760.4 123

124 FL813169105 Commercial paper 378.5 361.7 322.3 287.6 290.1 283.6 302.9 291.0 124

125 FL814135005 Loans 3702.0 3295.6 3189.7 2962.9 2890.0 2976.1 3313.9 3460.7 125

126 FL814141005 Short term 3507.6 3081.4 2958.3 2727.5 2653.5 2734.0 3087.7 3235.8 126

127 FL123165005 Long term (mortgages) 194.4 214.3 231.4 235.4 236.5 242.0 226.2 224.9 127

128 FL853181005 Equity and investment fund shares 19123.6 22341.7 24038.3 23818.5 25503.0 29212.0 27708.5 33125.4 128

129 FL634090005 Money market fund shares 2693.2 2733.4 2749.1 2742.4 2731.3 2848.4 3038.3 3634.3 129

130 LM813164105 Corporate equity issues 3936.9 5087.3 5863.3 5915.4 6693.5 8110.8 7664.0 9377.2 130

131 LM653164205 Mutual fund shares 10363.5 12333.0 13150.6 12897.2 13615.6 15899.0 14669.8 17659.5 131

132 FL403192405 Equity in government-sponsored enterprises (3) 41.2 41.7 42.9 44.2 46.9 51.1 52.2 48.6 132

133 LM803192005 Foreign direct investment in the United States 246.9 298.2 362.9 358.6 373.9 449.1 417.4 462.5 133

134 LM662090003 Equity in noncorporate business 37.9 40.8 45.1 50.4 67.7 68.7 78.2 83.5 134

135 FL803194005 Investment by parent 1804.0 1807.2 1824.4 1810.4 1974.0 1784.8 1788.4 1859.8 135

136 FL503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 136

137 FL813196005 Other accounts payable -275.5 -474.6 -507.1 -545.2 -550.4 -302.8 -355.6 -302.8 137

138 FL852090095 Net worth 620.1 -170.5 -612.6 -511.0 -660.2 -1257.0 -777.3 -1360.8 138

(1) Includes the following sectors as defined in the Financial Accounts of the United States: Money Market Funds; Mutual Funds; Closed-End Funds; Exchange-Traded Funds;

 Government-Sponsored Enterprises; Agency- and GSE-Backed Mortgage Pools; Issuers of Asset-Backed Securities; Finance Companies; REITs; Security Brokers and Dealers;

 Holding Companies; Other Financial Business.

(2) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(3) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.

(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(5) Excludes land. Includes corporate and noncorporate financial business.
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2012 2013 2014 2015 2016 2017 2018 2019

 

 Current account

 1 FA316902505 Gross value added 719.0 711.0 723.1 737.3 749.5 768.8 796.2 820.0 1

 2 FA316300001 Less: Consumption of fixed capital 261.6 265.9 270.2 271.5 271.8 277.0 285.8 294.8 2

 3 FA316902605 Equals: Net value added 457.4 445.1 452.9 465.8 477.8 491.8 510.4 525.1 3

 4 FA316025001 Compensation of employees (paid) 465.2 455.1 460.0 469.0 479.2 490.9 511.1 527.0 4

 5 FA316020001 Wages and salaries 327.6 320.4 324.0 330.5 336.4 344.1 357.2 365.4 5

 6 FA316401005 Employers’ social contributions 137.5 134.7 135.9 138.6 142.8 146.7 153.9 161.6 6

 7 FA316402101 Operating surplus, net -7.8 -10.1 -7.1 -3.2 -1.4 0.9 -0.6 -1.9 7

 8 FA316140005 Net national income/Balance of primary incomes, net -231.7 -117.0 -195.8 -188.7 -240.1 -264.3 -318.5 -371.8 8

 9 FA316402101 Operating surplus, net -7.8 -10.1 -7.1 -3.2 -1.4 0.9 -0.6 -1.9 9

10 FA316240001 Taxes on production and imports, receivable 115.2 125.5 136.3 140.3 136.4 130.9 162.8 173.7 10

11 FA316402015 Subsidies (paid) -57.6 -59.2 -57.6 -56.7 -61.2 -59.3 -62.7 -73.3 11

12 FA316150105 Property income (received) 141.1 243.1 171.7 160.2 140.2 139.1 122.7 111.3 12

13 FA316130101 Interest 21.4 22.9 23.8 27.1 29.1 29.3 35.8 39.0 13

14 FA316121105 Distributed income of corporations (dividends) 109.5 210.9 137.6 126.4 106.3 103.7 79.0 63.8 14

15 FA316112101 Rents on land and natural resources 10.2 9.3 10.3 6.7 4.8 6.1 7.8 8.5 15

16 FA316130001 Less: Uses of property income (interest paid) 422.6 416.3 439.1 429.3 454.1 475.9 540.5 581.6 16

17 FA316140005 Net national income/Balance of primary incomes, net -231.7 -117.0 -195.8 -188.7 -240.1 -264.3 -318.5 -371.8 17

18 FA316220001 Plus: Current taxes on income, wealth, etc. (received) 1457.8 1619.4 1763.8 1883.8 1883.9 1884.6 1854.3 1958.0 18

19 FA316601001 Plus: Social benefits (received) 938.0 1091.8 1140.1 1190.8 1224.6 1283.7 1344.6 1402.2 19

20 FA316404001 Less: Social contributions (paid) 1799.8 1840.4 1900.6 1990.3 2045.5 2120.6 2218.5 2347.5 20

21 FA316403105 Plus: Other current transfers (received) 56.1 69.3 87.3 76.2 79.7 85.2 83.9 67.8 21

22 FA316403001 Less: Other current transfers (paid) 493.8 497.9 540.9 577.9 605.0 605.8 634.0 658.5 22

23 FA316012005 Equals: Disposable income, net -73.4 325.2 353.9 394.0 297.5 262.7 111.8 50.3 23

24 FA316901001 Less: Final consumption expenditures 999.3 956.9 951.2 954.2 966.6 985.1 1043.5 1097.3 24

25 FA316006085 Equals: Net saving -1072.7 -631.8 -597.4 -560.2 -669.1 -722.4 -931.7 -1047.0 25

 Capital account

26 FA316006385 Net saving less capital transfers -1163.6 -696.0 -662.2 -620.2 -729.6 -540.5 -991.2 -1113.1 26

27 FA316006085 Net saving -1072.7 -631.8 -597.4 -560.2 -669.1 -722.4 -931.7 -1047.0 27

28 FA315440005 Less: Capital transfers paid (net) 90.9 64.3 64.9 59.9 60.5 -181.9 59.5 66.1 28

29 FA315050905 Capital formation, net 23.7 1.3 -9.0 -35.8 -12.6 -0.6 9.4 24.3 29

 Gross fixed capital formation (acquisition of

30 FA315019001 produced nonfinancial assets) 287.3 269.6 263.8 266.6 268.1 278.7 295.9 321.9 30

31 FA316300001 Less: Consumption of fixed capital 261.6 265.9 270.2 271.5 271.8 277.0 285.8 294.8 31

32 FA315420003 Acquisition of nonproduced nonfinancial assets -2.0 -2.5 -2.6 -30.9 -8.9 -2.2 -0.8 -2.7 32

33 FA315000905 Net lending (+) or borrowing (-), capital account (lines 26-29) -1187.3 -697.3 -653.2 -584.4 -717.0 -540.0 -1000.6 -1137.4 33

 Financial account

34 FA315000905 Net lending (+) or borrowing (-) (line 33) -1187.3 -697.3 -653.2 -584.4 -717.0 -540.0 -1000.6 -1137.4 34

35 FA314090005 Net acquisition of financial assets 75.4 364.6 32.0 236.9 206.3 155.5 323.0 84.2 35

36 FA313011105 Monetary gold and SDRs 0.0 0.0 0.0 0.0 0.7 0.1 0.2 0.2 36

37 FA313011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 FA313011303 SDR holdings 0.0 0.0 0.0 0.0 0.7 0.1 0.2 0.2 38

39 FA314000005 Currency and deposits 11.1 65.8 57.2 103.5 67.0 -171.6 178.5 5.7 39

40 FA313011505 Official foreign currencies 0.2 0.2 0.1 0.1 0.0 0.0 0.0 0.1 40

41 FA313011405 Reserve position in IMF (net) 4.0 -3.4 -3.9 -6.5 1.5 -1.8 4.8 4.3 41

42 FA313020005 Currency and transferable deposits 6.7 69.6 60.3 110.4 65.7 -170.2 173.5 1.0 42

43 FA313030003 Time and savings deposits 0.2 -0.5 0.7 -0.5 -0.2 0.4 0.1 0.3 43

44 FA313091105 Nonofficial foreign currencies 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

45 FA314022005 Debt securities -31.3 -0.1 -0.0 -0.0 0.0 0.0 0.0 0.0 45

46 FA313061703 Agency- and GSE-backed securities -31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 FA313063763 Corporate and foreign bonds -0.2 -0.1 -0.0 -0.0 0.0 0.0 0.0 0.0 47

48 FA314023005 Loans 90.0 271.8 -26.4 106.1 97.9 95.8 99.1 93.6 48

49 FA314041005 Short term 88.4 267.8 -28.2 106.8 94.7 95.6 95.7 92.9 49

50 FA313066220 Consumer credit 127.5 113.3 110.7 103.4 99.6 96.3 90.7 83.0 50

51 FA313069005 Other loans and advances -39.1 154.6 -138.9 3.4 -4.9 -0.7 5.0 10.0 51

52 FA313065005 Long term (mortgages) 1.6 4.0 1.7 -0.7 3.2 0.2 3.4 0.6 52

53 FA313081105 Equity and investment fund shares -14.4 -4.6 0.4 2.1 1.7 1.4 5.3 1.4 53

54 FA313064105 Corporate equities -13.2 -4.8 -1.6 -0.0 -0.1 -0.1 4.0 0.0 54

55 FA313092803 Equity in international organizations 2.2 2.0 2.1 2.1 1.7 1.5 1.3 1.4 55

56 FA313092403 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 FA313094303 Equity investment under Public-Private Inv. Program -3.4 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 57

58 FA313094205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58
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2012 2013 2014 2015 2016 2017 2018 2019

 

59 FA313096005 Other accounts receivable 20.0 31.6 0.9 25.3 39.1 229.9 40.0 -16.6 59

60 FA313070000 Trade receivables 2.6 3.3 -5.2 12.7 3.8 0.1 10.4 -1.4 60

61 FA313078000 Taxes receivable 20.8 24.7 -4.1 0.4 24.1 220.4 15.9 -20.9 61

62 FA313093003 Other (miscellaneous assets) -3.5 3.7 10.2 12.2 11.2 9.4 13.7 5.6 62

63 FA314190005 Net incurrence of liabilities 1245.1 872.8 765.1 756.3 883.0 634.9 1278.8 1191.9 63

64 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 64

65 FA314100005 Currency and deposits 0.0 -0.4 -0.3 -0.0 0.0 0.0 0.0 0.0 65

66 FA314122005 Debt securities 1180.6 857.3 735.9 724.6 842.7 447.0 1409.8 1174.9 66

67 FA313161105 Treasury securities 1181.0 857.7 736.0 724.4 842.8 447.0 1411.2 1176.6 67

68 FA313161705 Federal agency securities -0.4 -0.4 -0.1 0.2 -0.1 -0.1 -1.5 -1.7 68

69 FA314123005 Loans 0.0 0.0 0.0 0.0 0.0 151.7 -151.7 15.8 69

70 FA313152005 Insurance, pension and standardized guarantee schemes 60.0 0.7 29.2 13.6 5.2 15.5 -37.8 -19.7 70

71 FA313140003 Insurance reserves 0.3 0.2 0.8 -0.1 0.1 -0.2 0.2 0.9 71

72 FA313195105 Retiree Health Care Funds 13.3 12.2 10.4 7.4 12.9 9.6 13.9 14.4 72

73 FA343073045 Claims of pension fund on sponsor 46.4 -11.7 18.1 6.4 -7.8 6.2 -51.9 -35.0 73

74 FA313196005 Other accounts payable 4.5 15.2 0.1 18.1 35.2 20.7 58.5 21.0 74

75 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 75

76 FA313170005 Trade payables 12.8 13.9 -2.9 14.5 29.4 17.5 56.9 17.0 76

77 FA313193005 Other (miscellaneous liabilities) -8.3 1.3 3.0 3.5 5.8 3.2 1.6 3.9 77

 Addendum:

78 FA315000005 Net lending (+) or borrowing (-), financial account (lines 35-62) -1169.7 -508.2 -733.0 -519.3 -676.7 -479.4 -955.8 -1107.8 78

 Other changes in volume account

79 FV318090185 Total other volume changes -0.6 180.8 -51.6 121.9 79.7 -120.4 71.1 194.9 79

80 FV312010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 FV318090085 Other volume changes -18.2 -8.3 28.2 56.9 39.4 -181.0 26.3 165.3 81

82 FU317005045 Less: Statistical discrepancy (lines 33-77) (3) -17.5 -189.1 79.8 -65.0 -40.3 -60.6 -44.8 -29.6 82

 Revaluation account

83 FR312010095 Nonfinancial assets 39.7 74.2 50.3 7.1 68.5 89.0 105.6 55.0 83

84 FR315015605 Structures 34.9 45.7 31.2 11.7 43.1 55.9 65.8 31.9 84

85 FR315013265 Equipment 0.2 5.6 9.0 -2.9 6.5 3.2 15.3 2.2 85

86 FR315013765 Intellectual property products 4.7 23.0 10.1 -1.7 18.8 30.0 24.5 20.8 86

87 FR318080005 Financial assets -4.7 0.1 -5.0 -3.3 -2.1 4.0 -5.7 -0.4 87

88 FR313011105 Monetary gold and SDRs 0.1 0.1 -3.3 -2.3 -1.5 2.9 -1.2 -0.3 88

89 FR314000005 Currency and deposits 0.0 0.0 -1.7 -1.1 -0.6 1.1 -0.4 -0.1 89

90 FR313064105 Corporate equities -4.7 0.0 0.0 0.0 0.0 0.0 -4.0 0.0 90

91 FR313094303 Equity investment under Public-Private Inv. Program -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91

92 FR313111303 Liabilities (SDR allocations) 0.1 0.1 -3.2 -2.2 -1.5 2.8 -1.2 -0.3 92

93 FR318200005 Changes in net worth due to nominal holding gains/losses 35.0 74.2 48.5 6.0 67.9 90.2 101.1 54.9 93

 Changes in balance sheet account

94 FC312090095 Change in net worth (lines 29+33+78+92) -1129.2 -441.0 -665.4 -492.2 -582.1 -570.8 -819.1 -863.3 94

 Balance sheet account (end of period)

95 FL312000095 Total assets 4670.2 5098.3 5149.8 5405.6 5670.9 5708.1 6162.0 6485.2 95

96 LM312010095 Nonfinancial assets (4) 3126.7 3204.8 3248.7 3251.0 3315.8 3406.5 3522.1 3604.2 96

97 LM315015605 Structures 1445.7 1483.1 1504.7 1506.8 1539.7 1583.2 1638.1 1662.5 97

98 LM315013265 Equipment 726.6 736.2 746.8 745.5 753.6 762.8 790.2 811.6 98

99 LM315013765 Intellectual property products 954.4 985.4 997.2 998.8 1022.5 1060.4 1093.8 1130.1 99

100 FL314090005 Financial assets 1543.5 1893.6 1901.1 2154.6 2355.1 2301.7 2640.0 2881.0 100

101 FL313011105 Monetary gold and SDRs 55.1 55.2 51.9 49.7 48.9 51.9 50.8 50.8 101

102 FL313011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102

103 FL313011303 SDR holdings 55.1 55.2 51.9 49.7 48.9 51.9 50.8 50.7 103
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Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

104 FL314000005 Currency and deposits 155.9 221.8 277.2 379.7 446.1 275.6 453.7 459.2 104

105 FL313011505 Official foreign currencies 24.7 23.6 20.7 19.5 19.3 21.2 20.8 20.6 105

106 FL313011405 Reserve position in IMF (net) 34.4 31.0 25.3 17.7 18.7 17.9 22.3 26.4 106

107 FL313020005 Currency and transferable deposits 92.2 163.0 226.3 338.1 404.0 232.0 405.9 407.2 107

108 FL313030003 Time and savings deposits 2.0 1.5 2.2 1.8 1.5 1.9 2.0 2.3 108

109 FL313091105 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 109

110 FL314022005 Debt securities 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 110

111 FL313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 111

112 FL313063763 Corporate and foreign bonds 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 112

113 FL314023005 Loans 936.3 1208.1 1181.6 1287.7 1385.6 1481.4 1580.5 1674.0 113

114 FL314041005 Short term 824.8 1092.6 1064.5 1171.2 1265.9 1361.5 1457.3 1550.2 114

115 FL313066220 Consumer credit 622.2 735.5 846.2 949.7 1049.3 1145.6 1236.3 1319.2 115

116 FL313069005 Other loans and advances 202.5 357.1 218.2 221.6 216.6 216.0 221.0 231.0 116

117 FL313065005 Long term (mortgages) 111.5 115.5 117.2 116.5 119.7 119.8 123.2 123.8 117

118 FL313081105 Equity and investment fund shares 97.0 92.4 92.8 94.9 96.6 98.0 99.3 100.6 118

119 LM313064105 Corporate equities 39.9 35.1 33.4 33.4 33.3 33.2 33.2 33.2 119

120 FL313092803 Equity in international organizations 55.3 57.4 59.4 61.5 63.3 64.8 66.1 67.5 120

121 FL313092403 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 121

122 LM313094303 Equity investment under Public-Private Inv. Program 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 FL313094205 Equity investment in Federal Reserves facilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 123

124 FL313096005 Other accounts receivable 298.6 315.5 296.9 342.1 377.4 394.4 455.3 595.9 124

125 FL313070000 Trade receivables 50.3 53.6 48.4 61.2 64.9 65.0 75.4 74.1 125

126 FL313078000 Taxes receivable 168.5 178.5 154.8 175.1 195.5 203.0 239.8 376.2 126

127 FL313093003 Other (miscellaneous assets) 79.8 83.4 93.6 105.8 117.0 126.4 140.0 145.7 127

128 FL312000095 Total liabilities and net worth 4670.2 5098.3 5149.8 5405.6 5670.9 5708.1 6162.0 6485.2 128

129 FL314190005 Liabilities 15221.7 16090.9 16807.7 17555.7 18403.0 19011.1 20284.1 21470.5 129

130 FL313111303 SDR allocations 54.3 54.4 51.2 48.9 47.5 50.3 49.1 48.8 130

131 FL314100005 Currency and deposits 25.9 25.6 25.3 25.3 25.3 25.3 25.3 25.3 131

132 FL314122005 Debt securities 12847.8 13705.1 14441.1 15165.6 16008.3 16455.3 17865.0 19039.9 132

133 FL313161105 Treasury securities 12822.9 13680.6 14416.7 15141.1 15983.8 16430.9 17842.1 19018.7 133

134 FL313161705 Federal agency securities 24.9 24.5 24.4 24.6 24.5 24.4 22.9 21.2 134

135 FL314123005 Loans 0.0 0.0 0.0 0.0 0.0 151.7 0.0 15.8 135

136 FL313152005 Insurance, pension and standardized guarantee schemes 2049.9 2048.6 2036.4 2048.1 2025.5 2015.0 1974.4 1953.4 136

137 FL313140003 Insurance reserves 50.3 50.5 51.3 51.1 51.3 51.1 51.3 52.2 137

138 FL313195105 Retiree Health Care Funds 234.8 246.9 257.3 264.7 277.6 287.1 301.0 315.4 138

139 FL343073045 Claims of pension fund on sponsor 1764.9 1751.2 1727.8 1732.3 1696.6 1676.8 1622.1 1585.8 139

140 FL313196005 Other accounts payable 243.8 257.2 253.8 267.7 296.5 313.5 370.2 387.2 140

141 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 141

142 FL313170005 Trade payables 235.8 249.7 246.8 261.4 290.7 308.2 365.2 382.2 142

143 FL313193013 Other (miscellaneous liabilities) 2.8 2.3 1.8 1.2 0.6 0.1 -0.2 -0.2 143

144 FL312090095 Net worth -10551.5 -10992.5 -11657.9 -12150.1 -12732.2 -13302.9 -14122.0 -14985.3 144

(1) The federal government sector excludes federal government employee retirement funds.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land and nonproduced nonfinancial assets.
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Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

 Current account

 1 FA216902505 Gross value added 1463.0 1526.1 1573.5 1626.7 1661.3 1705.2 1780.4 1846.8 1

 2 FA216300001 Less: Consumption of fixed capital 232.0 238.8 246.3 251.4 256.5 266.2 280.3 293.5 2

 3 FA216902605 Equals: Net value added 1231.0 1287.4 1327.1 1375.3 1404.8 1439.1 1500.1 1553.4 3

 4 FA216025001 Compensation of employees (paid) 1238.7 1293.2 1331.0 1377.3 1407.7 1445.2 1505.3 1559.1 4

 5 FA216020001 Wages and salaries 870.7 887.6 912.9 945.3 971.8 1003.6 1045.3 1085.4 5

 6 FA216401005 Employers’ social contributions 368.0 405.6 418.1 432.0 435.8 441.6 460.0 473.8 6

 7 FA216402101 Operating surplus, net -7.6 -5.9 -3.9 -2.0 -2.9 -6.2 -5.2 -5.7 7

 8 FA216140005 Net national income/Balance of primary incomes, net 813.6 868.2 921.3 944.6 973.8 1028.7 1089.6 1110.5 8

 9 FA216402101 Operating surplus, net -7.6 -5.9 -3.9 -2.0 -2.9 -6.2 -5.2 -5.7 9

10 FA216240001 Taxes on production and imports, receivable 1021.0 1063.2 1104.5 1134.8 1175.3 1233.0 1282.0 1317.7 10

11 FA216402015 Subsidies (paid) -0.5 -0.5 -0.5 -0.5 -0.5 -0.6 -0.6 -0.6 11

12 FA216150105 Property income (received) 81.8 82.4 84.3 82.0 85.3 90.8 94.6 96.8 12

13 FA216130101 Interest 65.3 65.2 66.4 65.4 68.6 73.8 77.1 78.4 13

14 FA216121101 Distributed income of corporations (dividends) 4.1 4.7 5.3 5.4 5.7 5.8 6.0 6.6 14

15 FA216112101 Rents on land and natural resources 12.5 12.5 12.7 11.2 11.0 11.2 11.5 11.8 15

16 FA216130001 Less: Uses of property income (interest paid) 281.1 271.1 263.2 269.7 283.4 288.4 281.3 297.7 16

17 FA216140005 Net national income/Balance of primary incomes, net 813.6 868.2 921.3 944.6 973.8 1028.7 1089.6 1110.5 17

18 FA216220005 Plus: Current taxes on income, wealth, etc. (received) 393.8 427.4 437.4 463.6 463.3 486.3 528.2 559.4 18

19 FA216601001 Plus: Social benefits (received) 17.2 17.7 18.7 19.2 20.0 20.0 21.0 21.7 19

20 FA216404001 Less: Social contributions (paid) 540.8 564.4 617.5 665.3 692.6 707.5 727.2 754.6 20

21 FA216403105 Plus: Other current transfers (received) 550.1 560.9 616.5 675.5 690.4 691.2 722.5 753.0 21

22 FA216403001 Less: Other current transfers (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA216012005 Equals: Disposable income, net 1233.9 1309.8 1376.3 1437.7 1455.0 1518.7 1634.1 1690.0 23

24 FA216901001 Less: Final consumption expenditures 1516.7 1575.1 1614.2 1653.5 1694.2 1757.6 1847.8 1897.8 24

25 FA216006005 Equals: Net saving -282.8 -265.3 -237.9 -215.8 -239.2 -238.8 -213.7 -207.7 25

 Capital account

26 FA216006305 Net saving less capital transfers -208.5 -193.7 -167.3 -146.0 -166.6 -166.9 -141.5 -134.0 26

27 FA216006005 Net saving -282.8 -265.3 -237.9 -215.8 -239.2 -238.8 -213.7 -207.7 27

28 FA215440005 Less: Capital transfers paid (net) -74.4 -71.6 -70.6 -69.8 -72.6 -71.9 -72.2 -73.8 28

29 FA215050905 Capital formation, net 112.7 102.4 103.0 116.4 126.5 133.6 143.9 154.3 29

 Gross fixed capital formation (acquisition of

30 FA215019001 produced nonfinancial assets) 333.7 330.8 338.8 356.0 370.4 385.6 407.9 431.0 30

31 FA216300001 Less: Consumption of fixed capital 232.0 238.8 246.3 251.4 256.5 266.2 280.3 293.5 31

32 FA215420003 Acquisition of nonproduced nonfinancial assets 10.9 10.4 10.6 11.9 12.6 14.2 16.2 16.8 32

33 FA215000905 Net lending (+) or borrowing (-), capital account (lines 26-29) -321.1 -296.0 -270.3 -262.4 -293.0 -300.5 -285.3 -288.3 33

 Financial account

34 FA215000905 Net lending (+) or borrowing (-) (line 33) -321.1 -296.0 -270.3 -262.4 -293.0 -300.5 -285.3 -288.3 34

35 FA214090005 Net acquisition of financial assets -33.6 134.3 -46.6 77.2 171.3 -12.4 -30.3 51.9 35

36 FA214000005 Currency and deposits 9.9 27.3 28.4 5.5 14.1 11.7 0.3 25.9 36

37 FA213020005 Currency and transferable deposits -9.0 6.9 16.8 -8.6 5.9 -2.5 -7.6 6.2 37

38 FA213030000 Time and savings deposits 19.0 20.4 11.6 14.2 8.2 14.1 7.9 19.8 38

39 FA214022005 Debt securities -34.5 86.8 -73.5 27.1 105.9 -8.9 -51.7 -20.3 39

40 FA213069103 Open market paper -11.0 -3.9 -10.8 -3.3 0.5 0.8 -2.6 1.5 40

41 FA213061105 Treasury securities 33.5 43.2 -4.3 16.9 72.4 -11.0 -39.0 -0.8 41

42 FA213061703 Agency- and GSE-backed securities (2) -45.3 23.4 -49.3 -3.9 25.9 3.1 -15.3 -6.6 42

43 FA213062003 Municipal securities -0.8 1.8 -1.5 0.6 1.0 -0.2 -0.2 -0.4 43

44 FA213063003 Corporate and foreign bonds -10.8 22.4 -7.7 16.8 6.1 -1.6 5.4 -14.1 44

45 FA214035005 Loans -3.5 23.7 -4.6 17.5 19.3 4.6 -14.0 8.5 45

46 FA212051003 Short term -0.9 9.8 -0.7 7.8 7.4 1.6 -5.5 3.2 46

47 FA213065005 Long term (mortgages) -2.6 13.9 -3.9 9.6 11.9 2.9 -8.4 5.2 47

48 FA213081005 Equity and investment fund shares -4.4 -3.0 -3.9 -2.4 3.2 -1.9 -4.3 4.6 48

49 FA213034003 Money market fund shares -2.2 -0.8 -1.7 -0.2 5.4 0.3 -2.1 6.8 49

50 FA213064103 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 50

51 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 51

52 FA213096005 Other accounts receivable -1.1 -0.5 6.9 29.5 28.8 -17.8 39.4 33.3 52

53 FA213070003 Trade receivables 5.6 9.4 11.0 0.6 17.5 6.2 27.6 10.1 53

54 FA213078005 Taxes receivable 7.5 3.3 7.1 5.6 10.7 5.0 6.4 5.5 54

55 FA213093003 Other (miscellaneous assets) -14.1 -13.3 -11.2 23.4 0.6 -29.1 5.3 17.7 55
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56 FA214190005 Net incurrence of liabilities 234.7 376.0 170.5 225.4 321.1 253.4 223.2 360.0 56

57 FA213162005 Debt securities (municipals) 2.8 -52.9 -37.1 11.4 33.0 -0.4 -50.8 8.9 57

58 FA213162400 Short term 4.0 -11.2 -6.4 -5.9 -2.7 4.8 2.9 6.8 58

59 FA213162200 Other -1.3 -41.7 -30.7 17.4 35.7 -5.2 -53.7 2.1 59

60 FA213169203 Loans (short term) -12.2 44.7 -43.0 0.1 0.3 0.5 1.1 1.0 60

61 FA223073045 Insurance, pension and standardized guarantee schemes 205.8 345.4 210.8 172.7 244.8 207.9 224.9 300.6 61

 (claim of pension funds on sponsor)

62 FA213170003 Other accounts payable (trade payables) 38.3 38.8 39.8 41.2 43.1 45.4 48.1 49.4 62

 Addendum:

63 FA215000005 Net lending (+) or borrowing (-), financial account (lines 35-56) -268.2 -241.8 -217.1 -148.2 -149.9 -265.7 -253.6 -308.0 63

 Other changes in volume account

64 FV218090185 Total other volume changes 114.2 -709.2 -61.2 16.0 58.5 -11.6 -1.4 -49.3 64

65 FV212010095 Disaster losses -7.4 0.0 0.0 0.0 0.0 -2.1 -0.2 0.0 65

66 FV218090085 Other volume changes 68.7 -763.4 -114.3 -98.2 -84.7 -44.2 -33.0 -29.6 66

67 FU217005045 Less: Statistical discrepancy (lines 33-63) (3) -52.9 -54.3 -53.1 -114.2 -143.2 -34.7 -31.8 19.7 67

 Revaluation account

68 FR212010095 Nonfinancial assets 230.5 250.4 159.4 89.8 213.4 345.2 504.5 334.5 68

69 FR215015605 Structures 227.0 246.7 156.1 91.1 211.2 340.6 496.2 331.5 69

70 FR215013265 Equipment 2.1 1.8 3.1 0.6 0.7 2.1 5.6 0.6 70

71 FR215013765 Intellectual property products 1.3 1.9 0.3 -2.0 1.5 2.5 2.7 2.4 71

72 FR213081005 Financial assets (equity and investment fund shares) 17.1 36.5 14.6 -3.6 15.8 34.4 -16.4 53.3 72

73 FR223073045 Liabilities (claim of pension funds on sponsor) -279.9 -498.8 -157.7 109.9 -152.6 -463.1 217.4 -619.3 73

74 FR218200005 Changes in net worth due to nominal holding gains/losses 527.4 785.7 331.8 -23.8 381.8 842.7 270.8 1007.1 74

 Changes in balance sheet account

75 FC212090095 Change in net worth (lines 29+33+64+74) 433.2 -117.2 103.3 -153.8 273.7 664.2 127.9 823.8 75

 Balance sheet account (end of period)

76 FL212000095 Total assets 12145.3 12591.2 12843.5 13095.1 13591.6 14096.6 14697.4 15335.2 76

77 LM212010095 Nonfinancial assets (4) 9396.0 9738.4 9990.2 10184.5 10511.7 10974.1 11606.1 12078.0 77

78 LM215015605 Structures 9043.9 9380.1 9626.6 9819.5 10139.0 10588.2 11201.9 11661.5 78

79 LM215013265 Equipment 242.4 243.7 245.6 245.2 247.5 254.0 264.9 270.6 79

80 LM215013765 Intellectual property products 109.7 114.6 118.1 119.8 125.2 131.9 139.3 145.9 80

81 FL214090005 Financial assets 2749.3 2852.8 2853.3 2910.6 3079.9 3122.4 3091.3 3257.2 81

82 FL214000005 Currency and deposits 449.0 476.3 504.7 510.2 524.4 536.0 536.3 562.2 82

83 FL213020005 Currency and transferable deposits 122.1 128.9 145.7 137.1 143.0 140.6 132.9 139.1 83

84 FL213030000 Time and savings deposits 327.0 347.4 359.0 373.2 381.3 395.5 403.4 423.2 84

85 FL214022005 Debt securities 1408.8 1429.7 1389.6 1401.3 1489.6 1501.8 1463.6 1503.9 85

86 FL213069103 Open market paper 90.9 87.0 76.3 73.0 73.5 74.2 71.6 73.1 86

87 FL213061105 Treasury securities 622.3 634.3 646.4 680.9 742.5 731.6 716.0 740.3 87

88 FL213061703 Agency- and GSE-backed securities (2) 508.4 510.3 472.9 445.7 461.9 482.0 469.6 479.7 88

89 FL213062003 Municipal securities 14.0 14.8 14.5 15.0 15.8 16.0 15.4 15.7 89

90 FL213063003 Corporate and foreign bonds 173.3 183.3 179.5 186.6 196.0 198.0 191.0 195.1 90

91 FL214035005 Loans 345.3 367.6 362.2 378.8 397.8 402.0 387.7 396.0 91

92 FL212051003 Short term 130.5 140.3 139.7 147.5 154.9 156.5 151.0 154.2 92

93 FL213065005 Long term (mortgages) 214.8 227.2 222.5 231.3 242.9 245.5 236.8 241.8 93

94 FL213081005 Equity and investment fund shares 164.3 197.8 208.5 202.5 221.5 254.0 233.4 291.2 94

95 FL213034003 Money market fund shares 18.9 18.1 16.4 16.2 21.6 21.9 19.8 26.5 95

96 LM213064103 Corporate equities 93.2 118.2 126.9 121.5 130.5 151.5 137.7 173.2 96

97 LM213064203 Mutual fund shares 52.3 61.6 65.3 64.8 69.5 80.7 75.9 91.5 97

98 FL213096005 Other accounts receivable 381.8 381.3 388.2 417.8 446.6 428.7 470.3 503.8 98

99 FL213070003 Trade receivables 162.6 172.1 183.1 183.7 201.2 207.4 235.0 245.2 99

100 FL213078005 Taxes receivable 119.5 122.8 129.9 135.4 146.2 151.1 159.7 165.4 100

101 FL213093003 Other (miscellaneous assets) 99.7 86.5 75.3 98.7 99.3 70.2 75.6 93.2 101
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102 FL212100005 Total liabilities and net worth 12145.3 12591.2 12843.5 13095.1 13591.6 14096.6 14697.4 15335.2 102

103 FL214190005 Liabilities 6921.4 7484.4 7633.4 8038.8 8261.5 8102.3 8575.2 8389.3 103

104 FL213162005 Debt securities (municipals) 3158.7 3105.8 3068.7 3080.1 3113.1 3112.7 3061.9 3070.8 104

105 FL213162400 Short term 56.5 45.3 38.9 33.0 30.2 35.0 37.9 44.7 105

106 FL213162200 Other 3102.2 3060.5 3029.8 3047.1 3082.9 3077.6 3024.0 3026.1 106

107 FL213169203 Loans (short term) 16.4 61.1 18.1 18.2 18.5 18.9 20.1 21.1 107

108 FL223073045 Insurance, pension and standardized guarantee schemes 3001.0 3533.4 3722.7 4075.3 4221.7 4017.1 4491.6 4246.3 108

 (claim of pension funds on sponsor)

109 FL213170003 Other accounts payable (trade payables) 745.4 784.2 824.0 865.1 908.2 953.6 1001.7 1051.1 109

110 FL212090095 Net worth 5223.9 5106.8 5210.1 5056.3 5330.1 5994.3 6122.1 6945.9 110

(1) The state and local government sector excludes state and local government employee retirement funds.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land and nonproduced nonfinancial assets.
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 Current account

 1 FA266905005 Foreign income from U.S. 3549.0 3588.4 3737.0 3687.1 3673.4 3961.2 4289.5 4334.5 1

 2 FA266903001 U.S. imports of goods and services 2759.9 2764.2 2879.4 2792.4 2739.7 2930.1 3138.2 3125.2 2

 3 FA266904101 U.S. income payments to rest of world 567.4 592.7 612.5 640.4 661.5 740.4 858.2 900.2 3

 4 FA266400101 Current taxes and trans. payments to rest of world 221.8 231.5 245.2 254.3 272.2 290.6 293.2 309.1 4

 5 FA266900005 Less: Foreign outlays to U.S. 3107.7 3228.0 3371.4 3263.4 3265.9 3569.6 3821.7 3831.8 5

 6 FA266903011 U.S. exports of goods and services 2191.3 2273.4 2371.7 2265.9 2227.2 2374.6 2528.7 2514.8 6

 7 FA266904001 U.S. income receipts from rest of world 799.7 823.4 853.5 860.8 893.5 1032.7 1142.9 1169.8 7

 8 FA266400201 Current taxes and trans. receipts from rest of world (1) 116.7 131.1 146.2 136.8 145.2 162.3 150.2 147.2 8

 9 FA266000095 Equals: Net saving (current external balance) 441.3 360.5 365.6 423.7 407.4 391.5 467.8 502.8 9

 Capital account

10 FA266000095 Net saving 441.3 360.5 365.6 423.7 407.4 391.5 467.8 502.8 10

11 FA265440005 Less: Net capital transfers 0.6 -7.0 -6.9 -8.4 -7.0 -16.0 -4.5 -6.6 11

12 FA265420095 Less: Acquisition of nonproduced nonfinancial assets -0.1 -0.0 -0.0 0.0 0.0 -0.0 -0.1 -0.1 12

13 FA265000905 Net lending (+) or borrowing (-), capital account (lines 10-11-12) 440.8 367.4 372.5 432.0 414.5 407.5 472.4 509.5 13

 Financial account

14 FA265000905 Net lending (+) or borrowing (-) (line 13) 440.8 367.4 372.5 432.0 414.5 407.5 472.4 509.5 14

15 FA264090005 Net acquisition of U.S. financial assets 880.1 1124.7 1149.9 680.1 753.1 1508.7 745.0 581.1 15

16 FA263011005 Monetary gold and SDRs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 FA263011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 FA264000005 Currency and deposits -29.9 370.9 102.5 -45.6 -13.1 202.4 165.1 -31.8 19

20 FA263025003 Currency 57.1 37.7 66.3 38.4 42.3 69.7 65.3 51.3 20

21 FA263027003 Transferable deposits 11.1 13.0 16.6 -5.7 17.8 11.9 14.2 6.3 21

22 FA263030005 Time deposits 38.0 51.5 54.2 -18.6 70.8 16.9 36.7 -5.5 22

23 FA264016005 Net interbank items due from U.S. banks -136.2 268.7 -34.6 -59.6 -144.0 104.0 48.9 -84.0 23

24 FA264022005 Debt securities 495.9 553.6 527.8 406.5 341.6 652.0 142.6 444.3 24

25 FA263069103 Open market paper 0.1 -0.9 7.7 -2.3 36.9 -6.8 -9.5 5.5 25

26 FA263061105 Treasury securities 589.7 423.2 314.2 42.7 -107.9 308.2 120.2 225.7 26

27 FA263061705 Agency- and GSE-backed securities (2) -73.6 -83.6 -8.1 24.8 79.1 22.0 95.7 56.1 27

28 FA263062003 Municipal securities -0.6 4.5 4.3 6.5 7.2 7.1 -1.6 4.0 28

29 FA263063005 Corporate bonds -19.7 210.4 209.6 334.9 326.3 321.5 -62.2 153.1 29

30 FA264041005 Loans (short term) -52.2 40.9 131.4 15.7 64.4 130.6 -7.4 109.1 30

31 FA262051005 Security repurchases 0.1 45.1 100.4 -21.2 68.7 31.0 -30.8 11.6 31

32 FA263069500 Loans to U.S. corporate business -52.2 -4.2 31.0 36.9 -4.3 99.5 23.5 97.5 32

33 FA263081005 Equity and investment fund shares 450.5 154.6 366.3 296.5 340.3 464.6 400.3 38.0 33

34 FA263034003 Money market fund shares 22.6 9.2 -0.9 2.3 -14.3 0.1 17.3 18.8 34

35 FA263064105 Corporate equities 136.9 -54.9 114.3 -191.4 -186.3 116.9 110.9 -207.7 35

36 FA263064203 Mutual fund shares 79.6 -17.0 40.9 1.8 60.9 32.6 28.7 -55.2 36

37 FA263092001 Foreign direct investment in the United States 211.5 217.3 212.0 483.8 480.0 315.0 243.4 282.1 37

38 FA263052005 Insurance, pension and standardized guarantee schemes 4.0 -1.3 9.1 -3.8 13.4 13.5 10.9 2.9 38

39 FA263076005 Insurance receivables due from property-casualty insurance companies 1.5 3.7 -0.4 2.9 1.2 10.4 9.1 2.0 39

40 FA543141905 Life insurance reserves 1.5 -4.1 6.7 -4.6 11.0 2.7 -9.3 0.3 40

41 FA543151905 Pension entitlements 1.0 -0.8 2.8 -2.0 1.2 0.4 11.0 0.6 41

42 FA263070005 Other accounts receivable 11.7 5.9 12.8 10.8 6.4 45.6 33.4 18.6 42

43 FA264190005 Net incurrence of liabilities 411.5 782.1 909.2 348.4 348.4 1179.4 437.1 367.2 43

44 FA313011303 SDR holdings 0.0 0.0 0.0 0.0 0.7 0.1 0.2 0.2 44

45 FA264100005 Currency and deposits -143.0 28.0 -121.4 -242.1 -83.4 258.0 71.2 66.7 45

46 FA263111503 Official foreign currencies 0.4 0.3 0.2 0.2 0.1 0.0 0.0 0.2 46

47 FA263111403 Reserve position in IMF (net) 4.0 -3.4 -3.8 -6.5 1.3 -1.8 4.8 4.3 47

48 FA263191005 U.S. private deposits -147.4 31.1 -117.8 -235.8 -84.8 259.8 66.3 62.2 48

49 FA313091105 Nonofficial foreign currencies 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 FA264122005 Debt securities 160.8 206.1 162.8 -31.3 5.8 384.2 145.3 158.8 50

51 FA263169105 Commercial paper 48.2 66.3 8.9 54.6 -59.2 91.9 6.3 84.4 51

52 FA263163005 Bonds 112.6 139.8 153.9 -85.9 65.0 292.3 139.0 74.3 52
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53 FA264141005 Loans (short term) -7.5 -54.9 111.6 143.8 153.1 -10.7 162.1 200.6 53

54 FA262151003 Security repurchases 36.0 -108.6 16.5 80.8 115.9 -32.8 116.4 109.1 54

55 FA263169005 Other loans and advances 7.0 1.7 2.8 0.7 -1.5 2.8 -5.8 7.1 55

56 FA263168005 Depository institution loans n.e.c. 40.4 60.5 91.1 62.9 34.1 12.7 59.4 84.8 56

57 FA713091103 Nonoff. foreign currencies (swap lines) -90.9 -8.6 1.3 -0.5 4.6 6.5 -7.9 -0.5 57

58 FA263181105 Equity and investment fund shares 393.0 594.5 766.8 466.6 247.7 493.0 28.2 -72.3 58

59 FA263164100 Corporate equities 104.0 287.4 431.6 196.9 21.7 139.9 171.3 -191.3 59

60 FA313092803 U.S. government equity in IBRD, etc. 2.2 2.0 2.1 2.1 1.7 1.5 1.3 1.4 60

61 FA263192005 U.S. direct investment abroad 338.4 321.9 347.7 274.5 305.4 353.4 -169.4 118.9 61

62 FA263194735 Investment by holding companies -51.5 -16.9 -14.6 -6.9 -81.2 -1.8 24.9 -1.2 62

63 FA263152005 Insurance, pension and standardized guarantee schemes 4.9 -1.0 -5.8 9.9 21.9 47.4 27.5 11.2 63

64 FA263170005 Other accounts payable 3.3 9.5 -4.9 1.4 2.7 7.4 2.7 2.0 64

 Addendum:

65 FA265000005 Net lending (+) or borrowing (-), financial account (lines 15-43) 468.7 342.6 240.6 331.7 404.6 329.3 307.9 213.9 65

 Other changes in volume account

66 FV268090185 Total other volume changes 39.3 40.6 -193.3 -90.1 -85.3 -93.8 212.6 -317.0 66

67 FV268090085 Other volume changes 11.4 65.4 -61.5 10.2 -75.5 -15.6 377.1 -21.5 67

68 FU267005005 Less: Statistical discrepancy (lines 13-65) (3) -27.8 24.8 131.8 100.3 9.8 78.3 164.5 295.5 68

 Revaluation account

69 FR264090005 Financial assets 775.8 1816.7 1003.4 -727.4 720.4 2229.9 -1585.2 4211.8 69

70 FR263011005 Monetary gold and SDRs 0.1 0.1 -3.2 -2.2 -1.5 2.8 -1.2 -0.3 70

71 FR264000005 Currency and deposits -0.0 1.5 -1.1 -1.4 -0.6 -1.6 -0.9 -1.4 71

72 FR264022005 Debt securities 105.6 -382.2 87.9 -268.0 -69.5 67.6 -356.9 507.9 72

73 FR263069103 Open market paper -0.0 -0.6 -1.1 -1.4 -0.4 1.5 0.8 0.1 73

74 FR263061105 Treasury securities -22.6 -215.8 94.0 -56.2 -43.0 -21.7 -61.5 198.6 74

75 FR263061705 Agency- and GSE-backed securities -1.3 -11.4 8.0 -3.7 -1.8 -0.4 -7.9 13.4 75

76 FR263063005 Corporate bonds 129.5 -154.4 -12.9 -206.7 -24.2 88.1 -288.4 295.9 76

77 FR263081005 Equity and investment fund shares 670.0 2197.2 920.1 -455.5 792.2 2160.7 -1225.9 3708.0 77

78 FR263064105 Corporate equities 419.0 1307.3 600.9 -228.2 468.1 1119.8 -500.8 1775.0 78

79 FR263064203 Mutual fund shares 45.4 74.6 22.7 -17.9 32.8 101.9 -58.5 150.0 79

80 FR263092001 Foreign direct investment in the United States 205.6 815.3 296.5 -209.4 291.4 939.0 -666.7 1782.9 80

81 FR263070005 Other accounts receivable 0.2 0.1 -0.2 -0.3 -0.2 0.4 -0.3 -2.4 81

82 FR264194005 Liabilities 1231.5 1455.7 -411.6 -855.5 305.4 3084.5 -2812.8 3145.9 82

83 FR313011303 SDR holdings 0.1 0.1 -3.3 -2.3 -1.5 2.9 -1.2 -0.3 83

84 FR264100005 Currency and deposits 5.8 -2.5 -9.4 -3.3 0.1 -2.5 -3.0 -80.8 84

85 FR263111503 Official foreign currencies -2.3 -2.6 -5.9 -2.8 -0.3 3.7 -0.8 -0.5 85

86 FR263111403 Reserve position in IMF (net) 0.0 0.0 -1.7 -1.1 -0.6 1.1 -0.4 -0.1 86

87 FR263191005 U.S. private deposits 8.1 0.1 -1.8 0.6 1.0 -7.2 -1.8 -80.1 87

88 FR263191103 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 88

89 FR263163005 Debt securities (corporate bonds) 139.1 -114.7 17.1 -102.6 49.5 135.3 -98.3 320.5 89

90 FR263169203 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 90

91 FR263181105 Equity and investment fund shares 1086.6 1572.9 -415.6 -746.7 257.5 2948.1 -2709.9 2906.2 91

92 FR263164100 Corporate equities 716.4 863.6 -133.9 -211.4 226.8 1831.9 -1389.9 1750.8 92

93 FR263192005 U.S. direct investment abroad 370.2 709.4 -281.7 -535.3 30.7 1116.2 -1320.0 1155.4 93

94 FR263152005 Insurance, pension and standardized guarantee schemes -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.2 94

95 FR263170005 Other accounts payable -0.1 -0.1 -0.5 -0.6 -0.3 0.7 -0.3 0.0 95

96 FR265000005 Changes in net worth due to nominal holding gains/losses -455.7 361.0 1415.1 128.2 415.0 -854.6 1227.5 1066.0 96

 Changes in balance sheet account

97 FC262090095 Change in net worth (lines 13+66+96) 24.4 769.0 1594.2 470.1 744.1 -540.9 1912.5 1258.4 97

 Financial balance sheet account (end of period)

98 FL264090005 Total financial assets (4) 20025.7 23012.4 25138.2 25116.7 26642.2 30413.7 29967.3 34766.3 98

99 FL313111303 SDR allocations 54.3 54.4 51.2 48.9 47.5 50.3 49.1 48.8 99
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Z.1, September 21, 2020 189

S.9.a Rest of the World 

Billions of dollars

2012 2013 2014 2015 2016 2017 2018 2019

 

100 FL264000005 Currency and deposits 957.8 1328.7 1431.0 1385.0 1371.6 1571.0 1736.7 1704.9 100

101 FL263025003 Currency 454.2 491.9 558.2 596.6 638.9 708.6 773.9 825.2 101

102 FL263027003 Transferable deposits 86.3 99.4 116.0 110.2 128.0 139.9 154.1 160.4 102

103 FL263030005 Time deposits 393.7 445.1 499.2 480.2 550.8 564.6 601.9 596.4 103

104 FL264016005 Net interbank items due from U.S. banks 23.5 292.2 257.6 198.0 54.0 158.0 206.8 122.8 104

105 FL264022005 Debt securities 9364.8 9586.9 10174.2 10337.3 10661.1 11341.9 11186.0 12070.9 105

106 LM263069103 Open market paper 102.8 101.3 108.0 104.3 140.8 135.4 124.7 130.3 106

107 LM263061105 Treasury securities 5571.5 5792.6 6158.0 6146.2 6002.8 6211.3 6270.1 6690.8 107

108 LM263061705 Agency- and GSE-backed securities (2) 1001.2 883.8 899.6 916.5 991.6 1012.2 1087.0 1182.1 108

109 FL263062003 Municipal securities 71.8 76.2 80.6 87.0 94.2 101.3 99.7 103.7 109

110 LM263063005 Corporate bonds 2617.6 2732.9 2928.0 3083.3 3431.7 3881.7 3604.4 3964.0 110

111 FL264041005 Loans (short term) 922.4 963.3 1094.7 1110.4 1174.8 1378.4 1705.0 1886.1 111

112 FL262051005 Security repurchases 778.5 823.6 924.0 902.8 971.5 1002.6 971.7 1055.3 112

113 FL263069500 Loans to U.S. corporate business 143.9 139.7 170.6 207.5 203.3 375.8 733.3 830.8 113

114 FL263081005 Equity and investment fund shares 8461.2 10813.0 12099.4 11940.5 13073.0 15698.3 14872.7 18618.6 114

115 FL263034003 Money market fund shares 96.9 106.2 105.3 107.6 93.3 93.4 110.7 129.5 115

116 LM263064105 Corporate equities 3953.0 5205.4 5920.6 5500.9 5782.7 7019.4 6629.5 8196.8 116

117 LM263064203 Mutual fund shares 495.4 553.1 616.6 600.6 694.2 828.7 799.0 893.9 117

118 LM263092001 Foreign direct investment in the United States 3915.8 4948.4 5456.9 5731.4 6502.8 7756.7 7333.5 9398.4 118

119 FL263052005 Insurance, pension and standardized guarantee schemes 43.1 41.9 51.0 47.2 60.6 74.2 85.0 88.0 119

120 FL263076005 Insurance receivables due from property-casualty insurance companies 32.3 36.1 35.7 38.6 39.8 50.1 59.2 61.3 120

121 FL543141905 Life insurance reserves 8.0 3.9 10.6 5.9 17.0 19.7 10.4 10.7 121

122 FL543151905 Pension entitlements 2.8 2.0 4.7 2.7 3.9 4.3 15.4 16.0 122

123 LM263070005 Other accounts receivable 222.2 224.3 236.8 247.4 253.5 299.6 332.7 349.0 123

124 FL262100005 Total liabilities and net worth 20025.7 23012.4 25138.2 25116.7 26642.2 30413.7 29967.3 34766.3 124

125 FL264194005 Total liabilities 15710.2 17927.9 18459.5 17967.9 18749.3 23061.6 20702.8 24243.3 125

126 FL313011303 SDR holdings 55.1 55.2 51.9 49.7 48.9 51.9 50.8 50.7 126

127 FL264100005 Currency and deposits 1006.0 1031.4 897.1 650.3 560.4 823.4 893.3 864.5 127

128 FL263111503 Official foreign currencies 49.7 47.4 41.8 39.1 38.9 42.6 41.8 41.4 128

129 FL263111403 Reserve position in IMF (net) 34.2 30.8 25.2 17.6 18.4 17.6 22.0 26.2 129

130 LM263191005 U.S. private deposits 919.5 950.6 827.6 590.9 500.6 760.5 826.9 794.4 130

131 FL313091105 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 131

132 FL264122005 Debt securities 2566.1 2649.5 2866.9 2753.4 2801.2 3344.0 3406.1 3804.5 132

133 FL263169105 Commercial paper 199.4 265.7 274.6 329.3 270.1 362.0 368.3 452.8 133

134 LM263163005 Bonds 2366.7 2383.8 2592.3 2424.1 2531.1 2982.0 3037.7 3351.7 134

135 FL264141005 Loans (short term) 1071.4 1016.4 1128.1 1268.5 1421.5 1428.4 1590.5 1914.1 135

136 FL262151003 Security repurchases 800.7 692.2 708.6 789.5 905.4 872.6 989.0 1221.2 136

137 FL263169005 Other loans and advances 32.8 34.6 37.4 37.5 36.0 56.4 50.6 57.7 137

138 FL263168005 Depository institution loans n.e.c. 228.9 289.4 380.5 440.5 474.6 487.3 546.7 631.5 138

139 FL713091103 Nonoff. foreign currencies (swap lines) 8.9 0.3 1.5 1.0 5.6 12.1 4.2 3.7 139

140 FL263181105 Equity and investment fund shares 10714.8 12882.3 13233.5 12953.3 13600.2 17041.3 14359.7 17193.7 140

141 LM263164100 Corporate equities 5321.9 6472.9 6770.6 6756.2 7146.3 9118.1 7899.6 9459.1 141

142 FL313092803 U.S. government equity in IBRD, etc. 55.3 57.4 59.4 61.5 63.3 64.8 66.1 67.5 142

143 LM263192005 U.S. direct investment abroad 5222.9 6254.2 6320.1 6059.3 6395.4 7865.0 6375.7 7650.0 143

144 FL263194735 Investment by holding companies 114.7 97.9 83.3 76.4 -4.8 -6.6 18.3 17.1 144

145 FL263152005 Insurance, pension and standardized guarantee schemes 223.2 222.2 216.4 226.3 248.2 295.6 323.0 334.3 145

146 LM263170005 Other accounts payable 73.7 71.0 65.6 66.5 69.0 77.1 79.4 81.4 146

147 FL262090095 Net worth (external account) 4315.5 5084.5 6678.7 7148.8 7892.9 7352.0 9264.5 10523.0 147

(1) Prior to 1999, current taxes, contributions for government social insurance, and transfer receipts from the rest of the world (line 8) are not separately displayed, and line 4 includes

 current taxes and transfer payments to the rest of the world net of current taxes, contributions for government social insurance, and transfer receipts from the rest of the world.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(4) Nonfinancial assets, including nonproduced nonfinancial assets, are not included on the balance sheet.