For use at 12:00 p.m., eastern time 

Tuesday 

September 18, 2001 

FEDERAL RESERVE statistical release

Z.1 

Flow of Funds Accounts 

of the United States

Flows and Outstandings

Second Quarter 2001

Board of Governors of the Federal Reserve System, Washington DC 20551
Flow of Funds Summary Statistics 

Second Quarter 2001

Domestic nonfinancial debt grew at a seasonally adjusted annual rate of 5-1/2 percent in the second quarter of 

2001, near the pace in the first quarter of the year. An increase in borrowing by nonfederal sectors was about offset 

by a larger paydown of federal debt. 

Federal government debt contracted at a 6-1/2 percent rate in the second quarter, following little change in the 

first quarter. Since the peak in early 1998, federal government debt has dropped by about $570 billion, or 15 percent. 

 

Household debt expanded at a 9-1/4 percent rate in the second quarter. Home mortgage debt growth picked up to 

an 11-1/2 percent rate. In contrast, consumer credit decelerated to a 4-1/2 percent rate, the slowest in two years. In 

the nonfinancial business sector, debt grew at a 7-1/4 percent rate in the second quarter, faster than the previous 

quarter but still below last year’s pace. A large increase in net issuance of bonds and commercial mortgages was 

partially offset by a contraction in commercial paper and borrowing at banks. State and local government debt 

increased at an 8-1/2 percent rate in the second quarter, with substantial issuance of advance-refunding bonds and 

robust borrowing for new capital projects. 

The level of domestic nonfinancial debt outstanding was $18.8 trillion at the end of the second quarter. Debt of 

nonfederal sectors was $15.5 trillion, and federal debt was $3.3 trillion. 

Growth of Domestic Nonfinancial Debt1

Percentage changes; quarterly data are seasonally adjusted annual rates 

Nonfederal 

 Total Federal Total Households Business State and 

local govts. 

1993 4.9 8.3 3.7 6.0 0.4 6.0 

1994 4.5 4.7 4.5 7.4 3.7 -4.0 

1995 5.4 4.1 5.9 7.4 7.2 -4.6 

1996 5.3 4.0 5.8 6.9 6.3 -0.6 

1997 5.6 0.6 7.3 6.2 9.2 5.3 

1998 6.7 -1.4 9.4 8.2 11.3 7.2 

1999 6.7 -1.9 9.3 8.4 11.5 4.4 

2000 5.0 -8.0 8.5 8.4 10.0 2.2 

2000:Q1 5.5 -5.9 8.5 7.9 10.7 1.0 

 :Q2 5.5 -11.3 9.8 9.2 12.2 1.5 

 :Q3 4.5 -6.4 7.2 8.0 7.3 1.9 

 :Q4 4.2 -9.6 7.5 7.2 8.4 4.2 

2001:Q1 5.5 -0.1 6.7 7.8 5.4 7.8 

 :Q2 5.6 -6.4 8.3 9.2 7.2 8.4 

1. Changes shown are on an end-of-period basis and may differ from month-average data in the H.6 release. 
Table of Contents 

Title Table Page 

Flow of Funds Accounts, Second Quarter 2001 1 

Availability of Data for Latest Quarter 3 

Debt Growth by Sector D.1 6 

Borrowing by Sector D.2 7 

Debt Outstanding by Sector D.3 8 

Flows Levels

Title Table Page Table Page 

Summaries 

Total Net Borrowing and Lending in Credit Markets F.1 9 L.1 58 

Credit Market Borrowing by Nonfinancial Sectors F.2 10 L.2 59 

Credit Market Borrowing by Financial Sectors F.3 10 L.3 59 

Credit Market Borrowing, All Sectors, by Instrument F.4 11 L.4 60 

Total Liabilities and Its Relation to Total Financial Assets F.5 11 L.5 60 

Distribution of Gross Domestic Product F.6 12 

Distribution of National Income F.7 13 

Gross Saving and Investment F.8 14 

Net Capital Transfers F.9 14 

Derivation of Measures of Personal Saving F.10 15 L.10 61 

Flows Levels
Title Table Page Table Page

Sectors 

Households and Nonprofit Organizations F.100 16 L.100 62 

Nonfinancial Business F.101 17 L.101 63 

Nonfarm Nonfinancial Corporate Business F.102 18 L.102 64 

Nonfarm Noncorporate Business F.103 19 L.103 65 

Farm Business F.104 19 L.104 65 

State and Local Governments F.105 20 L.105 66 

Federal Government F.106 21 L.106 66 

Rest of the World F.107 22 L.107 67 

Monetary Authority F.108 23 L.108 68 

Commercial Banking F.109 24 L.109 69 

U.S.-Chartered Commercial Banks F.110 25 L.110 70 

Foreign Banking Offices in U.S. F.111 26 L.111 71 

Bank Holding Companies F.112 27 L.112 72 

Banks in U.S.-Affiliated Areas F.113 27 L.113 72 

Savings Institutions F.114 28 L.114 73 

Credit Unions F.115 29 L.115 74 

Bank Personal Trusts and Estates F.116 29 L.116 74 

Life Insurance Companies F.117 30 L.117 75 

Other Insurance Companies F.118 30 L.118 75 

Private Pension Funds F.119 31 L.119 76 

State and Local Government Employee Retirement Funds F.120 31 L.120 76 

Money Market Mutual Funds F.121 32 L.121 77 

Flows Levels

Title Table Page Table Page
Mutual Funds F.122 32 L.122 77 

Closed-End Funds F.123 32 L.123 77 

Government-Sponsored Enterprises F.124 33 L.124 78 

Federally Related Mortgage Pools F.125 33 L.125 78 

Issuers of Asset-Backed Securities F.126 34 L.126 79 

Finance Companies F.127 34 L.127 79 

Mortgage Companies F.128 35 L.128 80 

Real Estate Investment Trusts F.129 35 L.129 80 

Security Brokers and Dealers F.130 36 L.130 81 

Funding Corporations F.131 36 L.131 81 

Instruments 

Gold and Official Foreign Exchange Holdings F.200 37 L.200 82 

SDR Certificates and Treasury Currency F.201 37 L.201 82 

U.S. Deposits in Foreign Countries F.202 37 L.202 82 

Net Interbank Transactions F.203 38 L.203 83 

Checkable Deposits and Currency F.204 39 L.204 84 

Time and Savings Deposits F.205 40 L.205 85 

Money Market Mutual Fund Shares F.206 40 L.206 85 

Federal Funds and Security Repurchase Agreements F.207 41 L.207 86 

Open Market Paper F.208 41 L.208 86 

Treasury Securities F.209 42 L.209 87 

Flows Levels

Title Table Page Table Page
Agency Securities F.210 43 L.210 88 

Municipal Securities and Loans F.211 44 L.211 89 

Corporate and Foreign Bonds F.212 44 L.212 89 

Corporate Equities F.213 45 L.213 90 

Mutual Fund Shares F.214 45 L.214 90 

Bank Loans Not Elsewhere Classified F.215 46 L.215 91 

Other Loans and Advances F.216 47 L.216 92 

Total Mortgages F.217 48 L.217 93 

Home Mortgages F.218 49 L.218 94 

Multifamily Residential Mortgages F.219 49 L.219 94 

Commercial Mortgages F.220 50 L.220 95 

Farm Mortgages F.221 50 L.221 95 

Consumer Credit F.222 51 L.222 96 

Trade Credit F.223 51 L.223 96 

Security Credit F.224 51 L.224 96 

Life Insurance and Pension Fund Reserves F.225 52 L.225 97 

Taxes Payable by Businesses F.226 52 L.226 97 

Investment in Bank Personal Trusts F.227 52 L.227 97 

Proprietors’ Equity in Noncorporate Business F.228 52 

Total Miscellaneous Financial Claims F.229 53 L.229 98 

Identified Miscellaneous Financial Claims - Part I F.230 54 L.230 99 

Identified Miscellaneous Financial Claims - Part II F.231 55 L.231 100 

Unidentified Miscellaneous Financial Claims F.232 56 L.232 101 

Sector Discrepancies F.11 57 

Instrument Discrepancies F.12 57 

Balance Reconciliation

Sheet

Title Table Page Table Page
Balance Sheet and Reconciliation Tables

Households and Nonprofit Organizations B.100 102 R.100 104 

Nonfarm Nonfinancial Corporate Business B.102 103 R.102 105 

Flows Levels

Title Table Page Table Page

Supplementary Tables 

Nonprofit Organizations F.100.a 106 L.100.a 107 

Consolidated Statement for Federal, State, and Local Governments F.106.c 108 L.106.c 109 

Private Pension Funds: Defined Benefit Plans F.119.b 110 L.119.b 111 

Private Pension Funds: Defined Contribution Plans F.119.c 110 L.119.c 111 

Individual Retirement Accounts (IRAs) F.225.i 110 L.225.i 111 

Flow of Funds Matrix for 2000 112 113 

Balance Sheet of Households and Nonprofit Organizations 

 with Equity Detail B.100.e 114 

 

1

Flow of Funds Accounts, Second Quarter 2001 

 This publication presents the flow of funds 

accounts for 2001:Q2. 

Data revisions and other changes. The statistics 

shown in these tables reflect the use of new or revised 

source data. Most significant revisions appear in recent 

quarters; however, new source information resulted in 

changes to data for earlier periods. The revisions 

include the following: 

1. Seasonal factors for quarterly financial flows 

have been recalculated for the period 1991:Q1 onward. 

The factors were generated using the Statistics Canada 

X-12-ARIMA/88 seasonal adjustment program. 

2. The statistics in this publication reflect the 

annual revisions to the national income and product 

accounts for 1998 forward released by the Department 

of Commerce on July 27, 2001, and subsequent 

information for 2001:Q2 released on August 29, 2001. 

The August 2001 issue of the Survey of Current 

Business details the major features of the annual revision 

of the national income and product accounts.

3. In the nonfarm noncorporate business sector 

(tables F.103 and L.103), data have been revised from 

1981:Q1 forward to reflect methodological changes 

which incorporated data from the 1987, 1993, and 1998 

National Survey of Small Businesses and new source 

data for partnerships and sole proprietorships from the 

Internal Revenue Service Statistics of Income for 1998. 

4. Revisions to the rest of the world sector (tables 

F.107 and L.107) reflect new estimates of the balance of 

payments from the Department of Commerce for the 

period 1989-2000. The revisions are detailed in the July 

2001 Survey of Current Business. 

5. In the GSE sector (tables F.124 and L.124), 

holdings of mortgage-backed securities, previously 

included in the agency and miscellaneous assets 

categories, have been reallocated across the agency, 

municipal, and corporate and foreign securities 

categories. 

6. In the nonprofit sector (supplementary tables 

F.100.a and L.100.a), data for 1998 have been added to 

reflect newly available information from the Internal 

Revenue Service/Statistics of Income division. 

Explanatory notes for tables D.1, D.2, and D.3. 

Domestic debt comprises credit market funds borrowed 

by U.S. entities from both domestic and foreign sources, 

while foreign debt represents amounts borrowed by 

foreign financial and nonfinancial entities in U.S. 

markets only. Financial sectors consist of 

government-sponsored enterprises, federally related 

mortgage pools, and private financial institutions. Credit 

market debt consists of debt securities, mortgages, bank 

loans, commercial paper, consumer credit, U.S. 

government loans, and other loans and advances; it 

excludes trade debt, loans for the purpose of carrying 

securities, and funds raised from equity sources. 

Growth rates in table D.1 are calculated by 

dividing seasonally adjusted flows from table D.2 by 

seasonally adjusted levels at the end of the previous 

period from table D.3. Seasonally adjusted levels in 

flow of funds statistics are derived by carrying forward 

year-end levels by seasonally adjusted flows. Growth 

rates calculated from changes in unadjusted levels 

printed in table L.2 can differ from those in table D.1. 

Relation of Flows to Outstandings. Estimates of 

financial assets and liabilities outstanding are linked to 

data on flows. However, figures on outstandings 

contain discontinuities or breaks in series that could 

affect analysis of particular relationships over time. 

Specifically, outstandings in the flow of funds accounts 

are related to the flows in the following way: 

Outstanding t = Outstanding t-1+ Flow t+ Discontinuity t

where “t” is the time period. 

Discontinuities result from changes in 

valuation, breaks in source data, and changes in 

definitions. For most series, the value of the 

discontinuity is zero for nearly all time periods. 

However, in a few instances, the discontinuity is 

nonzero for almost all time periods, or is quite large in a 

particular quarter, such as a period when there is a sharp 

increase or decrease in equity prices or a major break in 

source data. 

The discontinuities in a series can distort 

estimated rates of growth in assets and liabilities 
2 

between periods. In order to minimize these distortions, 

percentage changes in assets and liabilities in flow of 

funds releases should be calculated as: 

Percentage change t

 = (Flow t / Outstanding t-1) * 100 

Preliminary Estimates. Figures shown for the most 

recent quarter in these tables are based on preliminary 

and incomplete information. A summary list of the 

principal sources of information available when the 

latest quarter’s data were compiled is provided in a table 

following this introduction. The distinction between 

“available” data and “missing” data is not between final 

and preliminary versions of data, but rather between 

those source estimates that are fully ready when the 

latest quarterly publication is compiled and those that 

are not yet completed. However, the items that are 

shown as available are, in general, also preliminary in 

the sense that they are subject to revision by source 

agencies. 

Margins of Uncertainty. Flow of funds statistics are 

subject to uncertainties resulting from measurement 

errors in source data, incompatibilities among data from 

different sources, potential revisions in both financial 

and nonfinancial series, and incomplete data in parts of 

the accounts. The size of these uncertainties cannot be 

quantified in precise statistical terms, but allowance for 

them is explicitly made throughout the accounts by the 

inclusion of “discrepancies” for various sectors and 

instrument types. A discrepancy for a sector is the 

difference between its measured sources of funds and its 

measured uses of funds. For an instrument category, a 

discrepancy is the difference between measured funds 

borrowed through the financial instrument and 

measured funds lent through that instrument. The size 

of such discrepancies relative to the main asset or 

liability components is one indication of the quality of 

source data, especially on an annual basis. For 

quarterly data, differences in seasonal adjustment 

procedures for financial and nonfinancial components 

of the accounts sometimes result in discrepancies that 

cancel in annual data. 

Availability of Data. Flow of funds statistics are 

updated about ten weeks following the end of a quarter. 

This publication — the Z.1 release — is available from 

the Board's Publications Services. Flow of funds data 

are also available electronically through the Internet at 

the following location: 

 http://www.federalreserve.gov/releases/Z1

The Internet site also provides quarterly data beginning 

in 1952, organized in compressed files that correspond 

to the tables published in this release. There are files for 

quarterly data for seasonally adjusted flows, unadjusted 

flows, outstandings, balance sheets, and debt (tables 

D.1, D.2, and D.3). There is a separate file for monthly 

data from January 1955 onward for the debt aggregate 

published in the Board's H.6 statistical release, “Money 

Stock and Debt Measures.” 

A Guide to the Flow of Funds Accounts is available. 

The 1,200-page Guide, in two volumes, explains in 

detail how the U.S. financial accounts are prepared and 

the principles underlying the accounts. The Guide can 

be purchased for $20.00 from the Board’s Publications 

Services. Publications Services accepts orders 

accompanied by checks as well as credit card orders. 

The Internet site for this release at the location shown 

above contains a link to an order form for the Guide that 

can be mailed or faxed to Publications Services. 

Subscription Information. The Federal Reserve Board 

charges for subscriptions to all statistical releases. 

Inquiries for releases should be directed to: 

Publications Services, Stop 127 

Board of Governors 

 of the Federal Reserve System 

20th Street and Constitution Avenue, N.W. 

Washington, DC 20551 

(202) 452-3244
3

Availability of Data for Latest Quarter 

Available at time of publication Major items missing

 1. National income and 

 product accounts (NIPA) 

Preliminary estimates, seasonally 

adjusted, for 2001:Q2. 

Unadjusted flows since 1999. 

 2. Households and nonprofit 

 organizations sector 

 (tables F.100 and L.100) 

Estimates for this sector are largely residuals and are derived from data for 

other sectors. Availability of data depends on schedules for other sectors. 

Data for consumer credit, which are estimated directly, are available 

through 2001:Q2. The source for nonprofit organizations data (tables 

F.100.a and L.100.a) is the Internal Revenue Service Statistics of Income. 

Data for nonprofit organizations are available for 1987 through 1998. 

 3. Nonfarm nonfinancial 

 corporate business 

 (tables F.102 and L.102) 

Quarterly Financial Report (QFR) of 

the Census Bureau through 2001:Q1; 

Internal Revenue Service Statistics of 

Income data through 1998; securities 

offerings, mortgages, bank loans, 

commercial paper, and other loans 

through 2001:Q2. 

Statistics of Income data since 

1998; QFR data for 2001:Q2. 

 4. Nonfarm noncorporate 

 business 

 (tables F.103 and L.103) 

Internal Revenue Service Statistics of 

Income data through 1998; bank and 

finance company loans and mortgage 

borrowing through 2001:Q2. 

Statistics of Income data since 

1998. 

 5. Farm business 

 (tables F.104 and L.104) 

Mortgages, bank loans, loans from 

government-sponsored enterprises, 

U.S. government loans to farms, and 

equity in government-sponsored 

enterprises through 2001:Q2; 

preliminary data for checkable 

deposits and currency and trade 

payables through 2000. 

Consumption of fixed capital and 

undistributed profits since 2000. 
4 

 6. State and local 

 governments 

 (tables F.105 and L.105) 

Gross offerings and retirements of 

municipal securities, deposits at 

banks, and nonmarketable U.S. 

government security issues through 

2001:Q2; selected financial assets 

through 1999:Q2 from the 

comprehensive annual financial 

reports of state and local 

governments that account for most of 

the holdings of the sector, and data 

from Standard & Poor’s on local 

government investment pools. 

Selected financial asset items since 

1999:Q2. 

 7. Federal government 

 (tables F.106 and L.106) 

Data from the Monthly Treasury 

Statement of Receipts and Outlays

through 2001:Q2; Treasury data for 

loan programs through 2001:Q2. 

None. 

 8. Rest of the world 

 (U.S. international 

 transactions) 

 (tables F.107 and L.107) 

Balance of payments data through 

2001:Q2; NIPA estimates; data from 

bank Reports of Condition and 

Treasury International Capital 

System through 2001:Q2. 

None. 

 9. Monetary authority 

 (tables F.108 and L.108) 

All data through 2001:Q2. None. 

10. Commercial banking 

 (tables F.109 through F.113 

 and tables L.109 through 

 L.113) 

All data through 2001:Q2 for 

U.S.-chartered commercial banks, 

foreign banking offices in the U.S., 

bank holding companies, and 

commercial banks in U.S.-affiliated 

areas. 

Data since 2000 for branches of 

domestic commercial banks 

located in U.S.-affiliated areas. 

11. Savings institutions 

 (tables F.114 and L.114) 

All data through 2001:Q2. None. 

12. Credit unions 

 (tables F.115 and L.115) 

All data through 2001:Q2. None. 

13. Bank personal trusts and 

 estates 

 (tables F.116 and L.116) 

All data through 1999. Data since 1999. 

 

14. Life insurance companies 

 (tables F.117 and L.117) 

All data through 2001:Q1. Data for 2001:Q2. 

 

15. Other insurance companies 

 (tables F.118 and L.118) 

All data through 2001:Q1. 

 

Data for 2001:Q2. 
5

16. Private pension funds 

 (including FERS 

 Thrift Savings Plan) 

 (tables F.119 and L.119) 

Quarterly data through 2001:Q2; 

Internal Revenue Service/Department 

of Labor/Pension Benefit Guaranty 

Corporation Form 5500 data through

1997.

Form 5500 data since 1997. 

17. State and local government 

 employee retirement funds 

 (tables F.120 and L.120) 

All data through 2001:Q1. Data for 2001:Q2. 

18. Money market mutual 

 funds 

 (tables F.121 and L.121) 

All data through 2001:Q2. None. 

19. Mutual funds 

 (tables F.122 and L.122) 

All data through 2001:Q2. None. 

20. Closed-end funds 

 (tables F.123 and L.123) 

All data through 2000. Data since 2000. 

21. Government-sponsored 

 enterprises 

 (tables F.124 and L.124) 

Data for FHLBs, Fannie Mae, 

Freddie Mac, FCS, FICO, 

REFCORP, and Sallie Mae through 

2001:Q2. 

None 

22. Federally related mortgage 

 pools 

 (tables F.125 and L.125) 

All data through 2001:Q2. None. 

23. Issuers of asset-backed 

 securities (ABSs) 

 (tables F.126 and L.126) 

All data for private mortgage pools, 

consumer credit, business loans, 

student loans, consumer leases, and 

trade credit securitization through 

2001:Q2. 

None. 

24. Finance companies 

 (tables F.127 and L.127) 

All data through 2001:Q2. None. 

25. Mortgage companies 

 (tables F.128 and L.128) 

Mortgage data through 1998:Q1. Data since 1998:Q1. 

26. Real estate investment 

 trusts (REITs) 

 (tables F.129 and L.129) 

Data from SNL REIT DataSource 

through 2001:Q2. 

None 

27. Security brokers and 

 dealers 

 (tables F.130 and L.130) 

Data for firms filing FOCUS and 

FOGS reports through 2001:Q2. 

None. 

28. Funding corporations 

 (tables F.131 and L.131) 

Estimates for this sector are largely residuals and are derived from data for 

other sectors. 
6 Z.1, September 18, 2001

D.1 Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Nonfederal

 Households Business State and Domestic 

Federal Total Home Consumer local financial

 Total government nonfederal Total mortgage credit Total Corporate governments sectors Foreign

1966 6.7 1.4 8.5 6.6 5.9 6.1 11.4 11.9 6.7 17.7 5.1

1967 7.3 4.9 8.1 5.7 5.8 5.0 11.1 11.6 6.7 -1.8 9.8

1968 7.9 4.5 8.9 8.2 7.0 9.9 10.1 10.3 7.5 17.3 6.3

1969 7.2 -1.1 9.7 7.7 6.9 8.3 11.6 11.4 9.6 32.8 6.9

1970 6.9 4.2 7.6 4.4 4.5 3.4 10.3 12.9 8.7 14.5 5.7

1971 9.5 8.3 9.8 9.2 8.6 11.7 10.1 7.7 10.9 8.7 9.7

1972 10.0 4.6 11.4 11.3 11.2 13.1 12.4 9.9 8.4 17.2 7.9

1973 10.7 2.0 12.9 12.4 11.7 13.3 14.7 17.5 7.8 28.9 10.3

1974 9.2 3.4 10.5 8.8 9.6 4.6 13.0 11.5 6.9 23.6 20.5

1975 9.3 23.9 6.3 8.3 9.3 3.8 4.9 3.4 5.4 0.8 17.4

1976 10.8 15.6 9.6 11.4 12.7 10.6 8.4 7.4 8.4 9.0 21.5

1977 12.8 11.0 13.3 15.5 16.5 15.5 12.5 12.0 8.4 18.9 11.6

1978 13.8 9.2 15.0 16.8 17.3 17.4 13.2 11.6 15.4 22.1 18.6

1979 12.2 5.8 13.7 15.2 16.2 13.8 13.6 11.1 9.0 22.1 9.5

1980 9.5 11.8 9.0 8.6 11.0 0.6 10.0 8.3 6.9 14.5 14.0

1981 10.4 11.6 10.1 7.7 7.3 5.0 12.8 13.5 8.0 18.2 11.9

1982 10.1 19.7 7.9 5.6 4.8 4.6 9.2 9.0 11.2 13.6 7.2

1983 12.0 18.9 10.2 11.2 10.3 12.8 9.0 8.0 11.4 13.4 8.2

1984 14.7 16.9 14.1 12.6 11.3 18.3 16.2 16.6 11.4 17.9 3.6

1985 15.7 16.5 15.4 15.8 14.1 15.9 11.4 12.6 31.8 19.4 0.5

1986 11.9 13.6 11.4 11.5 13.7 9.0 11.4 13.8 10.9 26.2 4.1

1987 9.0 8.0 9.3 10.5 13.5 4.6 7.6 8.7 12.0 18.2 2.6

1988 9.1 8.0 9.4 9.9 11.8 6.3 9.8 10.9 6.4 13.2 3.0

1989 7.3 7.0 7.4 9.4 11.1 6.0 6.0 7.1 5.6 10.5 4.0

1990 6.5 11.0 5.2 7.2 9.0 1.5 3.4 5.4 5.0 8.8 9.0

1991 4.3 11.1 2.2 5.1 6.9 -1.3 -2.3 -2.1 8.6 6.5 5.2

1992 4.6 10.9 2.6 5.3 6.5 0.8 -0.2 1.0 2.2 8.8 7.9

1993 4.9 8.3 3.7 6.0 5.4 7.3 0.4 1.4 6.0 9.7 21.9

1994 4.5 4.7 4.5 7.4 5.7 14.5 3.7 4.9 -4.0 14.0 -3.6

1995 5.4 4.1 5.9 7.4 5.1 14.1 7.2 8.5 -4.6 11.9 20.9

1996 5.3 4.0 5.8 6.9 6.7 7.9 6.3 6.4 -0.6 12.8 19.5

1997 5.6 0.6 7.3 6.2 6.6 4.3 9.2 9.7 5.3 13.6 13.2

1998 6.7 -1.4 9.4 8.2 9.1 5.4 11.3 11.6 7.2 19.7 7.1

1999 6.7 -1.9 9.3 8.4 9.2 7.1 11.5 11.8 4.4 16.5 4.3

2000 5.0 -8.0 8.5 8.4 8.3 9.3 10.0 10.2 2.2 10.7 14.1

1996 -- Q1 5.9 5.9 5.9 7.5 7.4 10.1 6.0 6.3 -1.8 9.5 13.6

 Q2 5.4 3.0 6.3 7.5 6.7 9.7 6.9 7.2 -1.3 16.3 10.6

 Q3 5.3 4.4 5.7 6.6 6.2 6.8 6.8 6.5 -3.2 10.1 27.1

 Q4 4.3 2.5 5.0 5.4 5.8 4.2 4.7 4.7 3.9 12.9 21.8

1997 -- Q1 5.0 1.8 6.1 6.7 6.6 5.2 6.6 6.4 1.6 8.1 6.2

 Q2 4.9 -0.4 6.7 5.8 5.6 4.6 8.4 8.6 4.3 13.8 13.8

 Q3 6.1 1.3 7.8 7.0 9.0 3.9 9.0 9.8 7.1 12.7 21.4

 Q4 5.8 -0.2 7.9 4.7 4.5 3.4 11.7 12.8 7.7 17.2 9.4

1998 -- Q1 7.2 -0.5 9.8 8.7 9.9 4.7 11.3 12.2 8.4 17.3 17.7

 Q2 7.0 -0.5 9.4 7.2 7.3 4.9 12.4 13.5 7.5 18.2 16.2

 Q3 5.8 -2.9 8.5 7.8 8.5 6.1 10.0 9.5 6.0 18.4 -1.7

 Q4 6.2 -1.6 8.7 8.1 9.5 5.3 9.9 9.4 6.0 19.7 -4.0

1999 -- Q1 7.8 -2.3 10.9 9.1 9.2 9.8 13.7 15.5 7.3 18.4 4.8

 Q2 5.5 -2.6 7.9 7.9 9.2 4.5 8.8 8.6 3.5 15.3 -3.6

 Q3 7.1 -2.0 9.7 8.9 9.8 5.5 11.8 11.9 4.3 15.6 12.4

 Q4 5.8 -0.8 7.6 6.8 7.5 7.8 9.7 9.3 2.2 13.1 3.4

2000 -- Q1 5.5 -5.9 8.5 7.9 7.1 10.2 10.7 11.4 1.0 7.9 17.3

 Q2 5.5 -11.3 9.8 9.2 9.5 9.4 12.2 12.5 1.5 11.4 7.1

 Q3 4.5 -6.4 7.2 8.0 8.3 8.2 7.3 7.1 1.9 9.8 15.1

 Q4 4.2 -9.6 7.5 7.2 7.4 8.1 8.4 8.4 4.2 12.0 14.3

2001 -- Q1 5.5 -0.1 6.7 7.8 7.8 10.1 5.4 4.8 7.8 10.5 1.2

 Q2 5.6 -6.4 8.3 9.2 11.4 4.5 7.2 7.3 8.4 8.8 0.5

1. Data shown are on an end-of-period basis and may differ from month-average statistics in the Board’s H.6 release.
Z.1, September 18, 2001 7

D.2 Borrowing by Sector

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Nonfederal

 Households Business State and Domestic 

Federal Total Home Consumer local financial

 Total government nonfederal Total mortgage credit Total Corporate governments sectors Foreign

1966 67.3 3.6 63.7 22.2 13.0 5.9 34.6 24.7 6.9 11.0 1.9

1967 78.2 12.9 65.2 20.4 13.4 5.1 37.5 27.0 7.3 -1.3 3.9

1968 90.6 12.5 78.0 31.3 17.2 10.8 37.9 26.8 8.8 12.4 2.7

1969 88.9 -3.2 92.1 31.8 18.1 9.9 48.1 32.6 12.1 27.6 3.2

1970 91.3 12.1 79.3 19.7 12.6 4.4 47.5 40.9 12.1 16.2 2.8

1971 135.3 24.9 110.5 42.4 24.7 15.6 51.7 28.0 16.4 11.1 5.1

1972 156.1 15.0 141.0 57.0 35.1 19.5 70.1 38.4 14.0 23.9 4.4

1973 183.9 6.9 176.9 69.6 40.7 22.5 93.3 74.8 14.1 47.0 6.3

1974 175.1 11.9 163.2 55.4 37.2 8.9 94.3 56.5 13.4 49.6 13.8

1975 193.5 85.6 107.8 56.9 39.7 7.8 39.8 18.6 11.1 2.1 14.1

1976 244.8 69.2 175.6 84.4 58.9 22.0 72.7 42.2 18.5 23.5 20.5

1977 321.2 56.3 264.8 128.4 86.5 35.4 116.6 72.8 19.9 53.6 13.5

1978 390.7 52.5 338.2 159.9 105.6 46.0 138.8 79.1 39.4 74.7 24.0

1979 391.9 35.8 356.1 169.0 115.7 42.7 160.5 84.3 26.6 91.1 15.0

1980 343.7 77.4 266.3 109.7 91.6 2.3 134.4 69.7 22.2 73.2 24.2

1981 410.0 85.5 324.5 107.5 68.0 17.7 189.4 122.7 27.6 105.1 23.5

1982 439.9 161.3 278.6 85.1 48.6 17.2 151.8 92.4 41.7 93.0 16.0

1983 573.6 185.2 388.4 177.6 107.1 50.0 163.4 88.7 47.3 104.4 17.3

1984 791.2 197.2 594.0 219.6 127.9 80.7 321.8 203.7 52.5 157.8 8.4

1985 963.0 225.7 737.3 309.4 177.2 82.8 264.3 179.6 163.6 204.0 1.2

1986 845.3 216.0 629.3 262.1 199.8 54.4 293.0 222.5 74.2 328.8 9.7

1987 719.0 143.9 575.1 266.5 224.3 30.4 218.1 159.4 90.4 290.6 6.3

1988 787.6 155.1 632.5 273.2 217.0 43.4 305.3 220.1 54.0 250.2 7.4

1989 687.5 146.4 541.2 287.3 229.0 44.2 203.8 156.5 50.1 225.0 10.2

1990 657.0 246.9 410.1 240.3 207.3 11.9 122.6 128.8 47.2 211.6 23.9

1991 465.3 278.2 187.1 186.1 175.4 -10.7 -84.4 -53.7 85.4 170.9 15.1

1992 524.2 304.0 220.2 202.7 175.4 6.1 -6.6 24.6 24.1 244.0 24.1

1993 579.4 256.1 323.3 240.8 156.5 58.4 16.3 34.4 66.2 294.4 69.8

1994 561.1 155.9 405.3 314.5 172.9 124.9 137.0 124.6 -46.2 468.3 -13.9

1995 705.9 144.4 561.5 339.3 165.3 138.9 273.7 224.9 -51.5 454.0 78.5

1996 733.1 145.0 588.1 338.5 225.5 88.8 256.4 183.7 -6.8 545.7 88.4

1997 804.4 23.1 781.3 322.1 234.7 52.5 403.2 301.3 56.1 653.8 71.8

1998 1023.5 -52.6 1076.2 454.2 345.7 67.6 541.7 394.8 80.3 1073.8 43.4

1999 1097.8 -71.2 1169.1 506.3 383.7 94.4 610.4 449.2 52.3 1077.3 27.9

2000 869.1 -295.9 1165.0 543.0 377.3 132.3 594.8 437.5 27.2 810.1 96.0

1996 -- Q1 806.5 213.7 592.8 367.9 249.7 113.2 244.7 182.5 -19.8 406.8 61.7

 Q2 756.7 109.2 647.4 373.5 229.8 111.7 287.6 211.1 -13.7 714.3 49.6

 Q3 749.7 162.0 587.7 333.8 216.7 79.8 288.1 195.9 -34.2 461.0 130.4

 Q4 619.6 95.2 524.5 278.8 205.7 50.4 205.1 145.4 40.6 600.8 111.8

1997 -- Q1 719.6 67.1 652.5 348.7 235.8 63.0 286.8 198.8 17.0 388.9 33.6

 Q2 712.3 -15.0 727.3 306.7 203.9 55.9 374.5 269.1 46.1 680.1 76.1

 Q3 908.1 48.4 859.7 376.8 331.1 48.1 406.7 315.7 76.2 648.0 121.7

 Q4 877.8 -8.1 885.9 256.1 167.9 43.1 544.9 421.7 84.9 898.1 55.7

1998 -- Q1 1095.9 -19.8 1115.7 482.7 375.5 58.9 538.5 415.1 94.6 942.9 107.9

 Q2 1082.5 -20.2 1102.7 405.7 284.1 62.1 611.6 474.0 85.4 1031.2 103.1

 Q3 915.5 -109.6 1025.1 450.1 337.7 79.6 504.9 342.5 70.0 1095.4 -11.2

 Q4 1000.2 -61.0 1061.2 478.2 385.4 69.9 511.7 347.4 71.3 1225.8 -26.3

1999 -- Q1 1274.3 -85.1 1359.4 542.9 381.1 130.5 729.0 588.9 87.6 1200.1 31.5

 Q2 918.6 -95.4 1014.0 487.2 393.1 61.4 484.6 340.6 42.2 1042.9 -23.6

 Q3 1198.8 -74.3 1273.1 557.3 427.3 76.2 663.3 477.9 52.4 1104.7 81.1

 Q4 999.7 -30.0 1029.7 437.8 333.4 109.5 564.7 389.5 27.2 961.4 22.8

2000 -- Q1 949.6 -217.2 1166.8 516.6 321.8 145.3 637.2 487.7 12.9 601.2 117.4

 Q2 967.5 -408.7 1376.2 612.7 438.9 137.9 745.2 550.8 18.2 884.8 50.6

 Q3 801.3 -226.2 1027.6 544.4 391.9 122.5 459.4 322.9 23.8 777.9 108.7

 Q4 758.0 -331.3 1089.4 498.4 356.7 123.7 537.2 388.5 53.7 976.7 107.4

2001 -- Q1 1001.1 -4.3 1005.4 549.5 385.1 158.1 355.8 228.2 100.1 882.9 9.3

 Q2 1034.9 -216.0 1251.0 660.9 572.1 72.8 480.0 348.1 110.1 763.1 4.2
8 Z.1, September 18, 2001

D.3 Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 Nonfederal

 Households Business State and Domestic 

Federal Total Home Consumer local financial

 Total government nonfederal Total mortgage credit Total Corporate governments sectors Foreign

1966 1074.6 265.1 809.5 360.3 231.8 103.4 339.1 232.1 110.0 72.9 39.5

1967 1152.6 278.1 874.6 380.6 245.0 108.6 376.6 259.1 117.4 71.6 43.3

1968 1242.7 290.6 952.1 412.2 262.1 119.3 413.8 285.1 126.1 84.0 46.1

1969 1332.0 287.4 1044.6 444.4 280.2 129.2 462.0 317.8 138.3 111.5 49.2

1970 1422.3 299.5 1122.8 460.2 289.0 133.7 512.3 361.1 150.3 127.8 52.1

1971 1557.5 324.4 1233.1 503.1 313.1 149.2 563.3 389.1 166.7 138.9 56.6

1972 1713.5 339.4 1374.1 560.1 348.2 168.8 633.3 427.5 180.7 162.8 61.1

1973 1897.9 346.3 1551.6 630.8 388.1 193.0 725.9 492.1 194.8 209.8 67.4

1974 2072.3 358.2 1714.1 686.1 425.1 201.9 819.8 548.1 208.2 258.3 81.2

1975 2264.7 443.9 1820.8 740.1 464.7 207.0 861.4 568.5 219.4 260.4 95.6

1976 2508.3 513.1 1995.3 825.9 524.0 229.0 931.5 608.1 237.8 283.9 116.0

1977 2829.6 569.4 2260.2 954.2 610.5 264.4 1049.8 682.6 256.2 337.8 129.4

1978 3214.5 621.9 2592.6 1112.8 716.0 310.4 1184.2 757.2 295.6 412.5 157.6

1979 3606.5 657.7 2948.9 1282.7 833.3 353.1 1344.0 840.7 322.2 504.9 172.9

1980 3957.9 735.0 3222.9 1404.0 934.5 355.4 1474.5 906.6 344.4 578.1 197.2

1981 4366.4 820.5 3545.9 1516.2 1007.2 373.1 1657.6 1023.0 372.1 682.4 220.7

1982 4788.3 981.8 3806.5 1586.6 1041.3 390.3 1806.1 1112.1 413.8 778.1 212.6

1983 5364.8 1167.0 4197.8 1744.2 1128.5 440.3 1992.4 1223.7 461.1 882.7 229.8

1984 6151.2 1364.2 4787.0 1956.2 1255.7 521.0 2317.2 1430.4 513.6 1052.4 238.0

1985 7132.3 1589.9 5542.5 2286.4 1458.2 603.8 2578.1 1606.7 677.9 1257.3 239.3

1986 7975.1 1805.9 6169.3 2546.9 1657.9 658.2 2870.2 1828.2 752.1 1593.6 241.0

1987 8677.6 1949.8 6727.8 2767.4 1840.2 688.6 3119.3 2018.7 841.0 1895.5 247.4

1988 9461.7 2104.9 7356.8 3057.6 2067.8 732.0 3404.2 2216.2 895.0 2145.8 254.8

1989 10166.3 2251.2 7915.0 3355.3 2295.1 793.3 3614.6 2379.7 945.2 2399.3 265.0

1990 10850.6 2498.1 8352.4 3624.7 2531.7 805.1 3735.4 2506.6 992.3 2615.8 288.9

1991 11312.5 2776.4 8536.2 3814.4 2710.6 794.5 3644.1 2450.8 1077.7 2786.7 304.0

1992 11839.9 3080.3 8759.6 4017.1 2886.0 800.6 3640.7 2477.0 1101.8 3046.3 318.8

1993 12434.1 3336.5 9097.7 4260.3 3044.9 859.0 3669.4 2523.9 1167.9 3346.1 388.6

1994 13001.5 3492.3 9509.2 4574.5 3217.8 983.9 3813.0 2655.0 1121.7 3822.1 375.0

1995 13707.5 3636.7 10070.7 4913.8 3383.0 1122.8 4086.7 2879.9 1070.2 4278.8 453.7

1996 14440.6 3781.8 10658.8 5218.6 3574.9 1211.6 4376.8 3097.3 1063.4 4824.5 542.2

1997 15243.5 3804.9 11438.6 5540.9 3809.5 1264.1 4778.2 3396.9 1119.5 5445.2 608.0

1998 16267.0 3752.2 12514.8 5995.1 4155.2 1331.7 5319.9 3791.6 1199.8 6519.1 651.5

1999 17399.6 3681.0 13718.5 6501.7 4538.9 1426.2 5964.7 4275.2 1252.1 7596.3 679.6

2000 18287.7 3385.2 14902.6 7063.8 4916.2 1566.5 6559.4 4712.7 1279.3 8418.4 775.8

1996 -- Q1 13909.1 3690.2 10218.9 5005.8 3445.5 1151.1 4147.9 2925.5 1065.3 4380.5 469.1

 Q2 14098.3 3717.5 10380.8 5065.5 3469.2 1179.0 4253.5 3012.0 1061.8 4559.0 481.5

 Q3 14285.7 3758.0 10527.7 5148.9 3523.4 1199.0 4325.5 3061.0 1053.3 4674.3 514.1

 Q4 14440.6 3781.8 10658.8 5218.6 3574.9 1211.6 4376.8 3097.3 1063.4 4824.5 542.2

1997 -- Q1 14620.5 3798.5 10822.0 5306.0 3633.8 1227.3 4448.2 3146.8 1067.7 4921.7 550.6

 Q2 14798.6 3794.8 11003.8 5382.7 3684.8 1241.3 4541.9 3214.1 1079.2 5091.8 569.6

 Q3 15024.0 3806.9 11217.2 5476.9 3767.5 1253.3 4642.0 3291.5 1098.2 5220.7 593.9

 Q4 15243.5 3804.9 11438.6 5540.9 3809.5 1264.1 4778.2 3396.9 1119.5 5445.2 608.0

1998 -- Q1 15517.5 3799.9 11717.6 5661.6 3903.4 1278.8 4912.8 3500.6 1143.1 5680.9 635.0

 Q2 15788.1 3794.9 11993.2 5763.0 3974.4 1294.4 5065.7 3619.1 1164.5 5938.7 660.7

 Q3 16017.0 3767.5 12249.5 5875.6 4058.8 1314.3 5192.0 3704.8 1182.0 6212.6 657.9

 Q4 16267.0 3752.2 12514.8 5995.1 4155.2 1331.7 5319.9 3791.6 1199.8 6519.1 651.5

1999 -- Q1 16587.3 3731.0 12856.4 6131.1 4250.5 1364.4 5503.6 3940.3 1221.7 6819.1 659.4

 Q2 16817.0 3707.1 13109.9 6252.9 4348.7 1379.7 5624.7 4025.4 1232.2 7079.8 653.5

 Q3 17149.6 3688.5 13461.1 6392.3 4455.6 1398.8 5823.5 4177.8 1245.3 7356.0 673.8

 Q4 17399.6 3681.0 13718.5 6501.7 4538.9 1426.2 5964.7 4275.2 1252.1 7596.3 679.6

2000 -- Q1 17636.9 3626.7 14010.2 6630.9 4619.4 1462.5 6124.0 4397.1 1255.4 7746.6 709.0

 Q2 17878.8 3524.6 14354.3 6784.1 4729.1 1497.0 6310.3 4534.8 1259.9 7967.8 721.7

 Q3 18090.2 3468.0 14622.2 6931.3 4827.1 1527.6 6425.1 4615.6 1265.9 8166.3 748.8

 Q4 18287.7 3385.2 14902.6 7063.8 4916.2 1566.5 6559.4 4712.7 1279.3 8418.4 775.8

2001 -- Q1 18538.0 3384.1 15153.9 7201.2 5012.5 1606.0 6648.4 4769.8 1304.3 8639.2 778.1

 Q2 18797.3 3330.1 15467.2 7366.4 5155.5 1624.2 6769.0 4857.4 1331.8 8829.9 779.1

1. Data shown are on an end-of-period basis and may differ from month-average statistics in the Board’s H.6 release.
Z.1, September 18, 2001 9

F.1 Total Net Borrowing and Lending in Credit Markets (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total net borrowing 1367.2 1530.0 2140.7 2203.1 1775.3 1668.1 1902.9 1687.9 1842.1 1893.2 1802.2 1

 2 Domestic nonfinancial sectors 733.1 804.4 1023.5 1097.8 869.1 949.6 967.5 801.3 758.0 1001.1 1034.9 2

 3 Federal government 145.0 23.1 -52.6 -71.2 -295.9 -217.2 -408.7 -226.2 -331.3 -4.3 -216.0 3

 4 Nonfederal sectors 588.1 781.3 1076.2 1169.1 1165.0 1166.8 1376.2 1027.6 1089.4 1005.4 1251.0 4

 5 Household sector 338.5 322.1 454.2 506.3 543.0 516.6 612.7 544.4 498.4 549.5 660.9 5

 6 Nonfinancial corporate business 183.7 301.3 394.8 449.2 437.5 487.7 550.8 322.9 388.5 228.2 348.1 6

 7 Nonfarm noncorporate business 67.8 95.7 138.9 155.7 146.0 135.7 184.7 129.3 134.2 121.3 125.4 7

 8 Farm business 4.9 6.2 8.0 5.5 11.3 13.8 9.7 7.2 14.5 6.3 6.5 8

 9 State and local governments -6.8 56.1 80.3 52.3 27.2 12.9 18.2 23.8 53.7 100.1 110.1 9

10 Rest of the world 88.4 71.8 43.4 27.9 96.0 117.4 50.6 108.7 107.4 9.3 4.2 10

11 Financial sectors 545.7 653.8 1073.8 1077.3 810.1 601.2 884.8 777.9 976.7 882.9 763.1 11

12 Commercial banking 13.0 46.1 72.9 67.2 60.0 78.3 99.3 43.4 18.8 148.3 -15.6 12

13 U.S.-chartered commercial banks 11.7 29.5 52.8 41.8 36.8 70.2 67.9 13.6 -4.5 52.9 -23.3 13

14 Foreign banking offices in U.S. -0.7 -2.4 -4.8 -0.4 -0.0 -0.2 -0.3 -0.4 0.7 -0.8 -2.4 14

15 Bank holding companies 2.0 19.0 24.9 25.8 23.2 8.3 31.7 30.3 22.7 96.1 10.1 15

16 Savings institutions 25.5 19.7 52.2 48.0 27.3 57.5 69.0 -37.9 20.4 62.5 16.2 16

17 Credit unions 0.1 0.1 0.6 2.2 0.0 -2.9 0.9 1.1 1.0 -0.6 0.8 17

18 Life insurance companies 1.1 0.2 0.7 0.7 -0.7 -0.7 -1.1 -0.3 -0.7 -2.4 0.1 18

19 Government-sponsored enterprises 90.4 98.4 278.3 318.2 234.1 104.9 248.9 278.1 304.5 262.3 264.7 19

20 Federally related mortgage pools 141.0 114.6 192.6 273.8 199.4 119.5 132.2 236.7 309.1 170.3 406.5 20

21 ABS issuers 150.8 202.2 321.4 223.4 196.3 175.0 146.0 156.2 307.9 289.8 171.8 21

22 Finance companies 45.9 48.7 43.0 62.4 74.7 53.5 177.7 29.6 37.8 -42.8 35.7 22

23 Mortgage companies 4.1 -4.6 1.6 0.2 0.1 -3.0 2.7 -0.3 1.0 0.7 0.6 23

24 REITs 11.9 39.6 62.7 6.3 2.7 11.5 9.8 -2.4 -8.1 -6.1 2.2 24

25 Brokers and dealers -2.0 8.1 7.2 -17.2 15.6 44.4 -0.7 25.4 -6.6 -23.7 35.6 25

26 Funding corporations 64.1 80.7 40.7 92.2 0.7 -36.8 -0.1 48.2 -8.5 24.6 -155.5 26

27 Total net lending 1367.2 1530.0 2140.7 2203.1 1775.3 1668.1 1902.9 1687.9 1842.1 1893.2 1802.2 27

28 Domestic nonfederal nonfinancial sectors 69.7 -29.7 86.3 189.2 -120.3 -227.3 133.4 -231.3 -155.8 -222.5 -63.2 28

29 Household sector 109.4 -20.2 -50.4 141.5 -137.1 -283.0 31.2 -160.1 -136.4 -259.9 13.3 29

30 Nonfinancial corporate business -10.2 -12.7 -16.0 -2.8 9.7 56.5 61.9 -50.8 -28.7 40.6 -46.5 30

31 Nonfarm noncorporate business 4.2 3.0 18.1 7.1 -2.1 -2.1 0.4 -4.0 -2.7 -4.8 -5.2 31

32 State and local governments -33.7 0.1 134.5 43.4 9.2 1.2 39.9 -16.4 12.1 1.5 -24.8 32

33 Federal government -7.2 5.1 13.5 5.8 7.3 6.5 7.7 4.5 10.6 4.6 9.4 33

34 Rest of the world 414.4 311.3 254.2 208.8 279.3 315.2 197.9 216.2 387.8 410.8 344.0 34

35 Financial sectors 890.3 1243.3 1786.7 1799.2 1608.9 1573.7 1563.8 1698.6 1599.5 1700.3 1511.9 35

36 Monetary authority 12.3 38.3 21.1 25.7 33.7 102.0 -5.4 39.1 -0.9 53.7 26.4 36

37 Commercial banking 187.5 324.3 305.2 308.2 358.4 415.8 497.4 363.2 157.0 152.8 158.4 37

38 U.S.-chartered commercial banks 119.6 274.9 312.0 317.6 339.8 448.2 510.9 324.8 75.3 107.9 179.7 38

39 Foreign banking offices in U.S. 63.3 40.2 -11.9 -20.1 24.0 4.5 -22.3 32.8 81.1 41.3 -22.7 39

40 Bank holding companies 3.9 5.4 -0.9 6.2 -12.2 -42.2 3.5 -6.7 -3.2 7.3 -2.8 40

41 Banks in U.S.-affiliated areas 0.7 3.7 6.0 4.4 6.7 5.4 5.4 12.3 3.8 -3.6 4.2 41

42 Savings institutions 19.9 -4.7 36.1 68.6 56.5 55.6 65.0 62.7 42.5 52.5 56.2 42

43 Credit unions 25.5 16.8 19.0 27.5 30.5 35.7 31.6 21.2 33.6 3.9 24.6 43

44 Bank personal trusts and estates -7.7 -25.0 -12.8 27.8 17.1 18.9 13.8 17.6 18.1 10.7 13.4 44

45 Life insurance companies 69.6 104.8 76.9 53.5 57.9 65.0 52.9 74.8 38.8 95.3 101.2 45

46 Other insurance companies 22.5 25.2 5.8 -3.0 -8.7 -11.2 -18.1 6.2 -11.7 2.1 2.8 46

47 Private pension funds -4.1 47.6 56.4 45.0 41.3 46.8 24.7 64.9 28.7 26.1 20.2 47

48 State and local govt. retirement funds 35.8 67.1 72.1 46.9 49.6 63.3 31.5 37.6 66.1 13.3 17.7 48

49 Money market mutual funds 88.8 87.5 244.0 182.0 148.9 161.5 -118.2 256.1 296.0 303.4 166.2 49

50 Mutual funds 48.9 80.9 124.8 47.2 26.8 -66.9 63.1 50.1 60.8 69.4 130.9 50

51 Closed-end funds 4.6 -2.6 5.5 7.4 -8.4 -8.4 -8.4 -8.4 -8.4 -8.4 -8.4 51

52 Government-sponsored enterprises 97.4 106.6 314.6 291.7 240.9 205.4 250.9 188.6 318.8 347.8 302.4 52

53 Federally related mortgage pools 141.0 114.6 192.6 273.8 199.4 119.5 132.2 236.7 309.1 170.3 406.5 53

54 ABS issuers 120.5 163.8 281.7 205.2 166.4 154.2 111.4 120.9 278.9 269.8 159.4 54

55 Finance companies 18.4 21.9 51.9 94.9 99.4 144.0 138.9 91.6 23.1 -3.9 85.5 55

56 Mortgage companies 8.2 -9.1 3.2 0.3 0.2 -6.0 5.5 -0.5 2.0 1.4 1.1 56

57 REITs 4.4 20.2 -5.1 -2.6 -6.3 -16.3 -2.5 -3.6 -2.8 4.0 1.1 57

58 Brokers and dealers -15.7 14.9 6.8 -34.7 68.9 101.9 90.0 152.7 -69.0 311.4 13.8 58

59 Funding corporations 12.6 50.4 -12.9 133.8 36.6 -7.2 207.7 -72.9 19.0 -175.3 -167.5 59

(1) Excludes corporate equities and mutual fund shares.
10 Z.1, September 18, 2001

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Domestic 733.1 804.4 1023.5 1097.8 869.1 949.6 967.5 801.3 758.0 1001.1 1034.9 1

 2 Federal government 145.0 23.1 -52.6 -71.2 -295.9 -217.2 -408.7 -226.2 -331.3 -4.3 -216.0 2

 3 Treasury securities 146.6 23.2 -54.6 -71.0 -294.9 -215.2 -410.5 -223.8 -330.2 -2.1 -217.1 3

 4 Budget agency securities and mortgages -1.6 -0.1 2.0 -0.2 -1.0 -2.1 1.8 -2.4 -1.2 -2.2 1.1 4

 5 Nonfederal, by instrument 588.1 781.3 1076.2 1169.1 1165.0 1166.8 1376.2 1027.6 1089.4 1005.4 1251.0 5

 6 Commercial paper -0.9 13.7 24.4 37.4 48.1 29.8 110.4 56.1 -4.0 -207.2 -141.5 6

 7 Municipal securities and loans 2.6 71.4 96.8 68.2 35.3 20.0 30.1 31.0 60.1 106.9 113.9 7

 8 Corporate bonds 116.3 150.5 218.7 229.9 175.0 186.2 153.8 184.4 175.6 403.7 423.7 8

 9 Bank loans n.e.c. 70.5 106.5 108.2 82.7 103.1 139.5 163.3 50.2 59.4 -6.7 -144.1 9

10 Other loans and advances 33.5 69.1 74.3 60.6 104.2 147.1 126.0 18.4 125.2 -12.5 102.8 10

11 Mortgages 277.5 317.6 486.1 595.9 567.0 498.8 654.6 565.0 549.5 563.1 823.3 11

12 Home 242.9 252.6 384.2 429.5 417.2 356.2 484.6 435.9 392.3 431.5 613.9 12

13 Multifamily residential 9.5 7.6 23.8 42.7 37.8 30.9 49.0 29.5 41.7 40.4 56.2 13

14 Commercial 22.5 54.3 71.5 117.9 105.0 104.3 110.9 93.1 111.8 86.7 144.2 14

15 Farm 2.7 3.1 6.5 5.8 6.9 7.4 10.1 6.5 3.8 4.5 9.1 15

16 Consumer credit 88.8 52.5 67.6 94.4 132.3 145.3 137.9 122.5 123.7 158.1 72.8 16

17 Nonfederal, by sector 588.1 781.3 1076.2 1169.1 1165.0 1166.8 1376.2 1027.6 1089.4 1005.4 1251.0 17

18 Household sector 338.5 322.1 454.2 506.3 543.0 516.6 612.7 544.4 498.4 549.5 660.9 18

19 Nonfinancial business 256.4 403.2 541.7 610.4 594.8 637.2 745.2 459.4 537.2 355.8 480.0 19

20 Corporate 183.7 301.3 394.8 449.2 437.5 487.7 550.8 322.9 388.5 228.2 348.1 20

21 Nonfarm noncorporate 67.8 95.7 138.9 155.7 146.0 135.7 184.7 129.3 134.2 121.3 125.4 21

22 Farm 4.9 6.2 8.0 5.5 11.3 13.8 9.7 7.2 14.5 6.3 6.5 22

23 State and local governments -6.8 56.1 80.3 52.3 27.2 12.9 18.2 23.8 53.7 100.1 110.1 23

24 Foreign borrowing in U.S. 88.4 71.8 43.4 27.9 96.0 117.4 50.6 108.7 107.4 9.3 4.2 24

25 Commercial paper 11.3 3.7 7.8 16.3 31.7 57.8 12.0 7.0 50.1 -25.4 -5.6 25

26 Bonds 67.0 61.4 34.9 16.8 54.3 44.7 31.2 91.5 49.6 33.3 36.0 26

27 Bank loans n.e.c. 9.1 8.5 6.7 0.5 11.3 15.4 5.7 11.9 12.2 13.0 -26.9 27

28 Other loans and advances 1.0 -1.8 -6.0 -5.7 -1.3 -0.5 1.7 -1.7 -4.6 -11.6 0.7 28

29 Domestic and foreign 821.5 876.2 1066.9 1125.8 965.1 1067.0 1018.1 910.0 865.4 1010.4 1039.1 29

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 By instrument 545.7 653.8 1073.8 1077.3 810.1 601.2 884.8 777.9 976.7 882.9 763.1 1

 2 Federal government-related 231.4 212.9 470.9 592.0 433.5 224.4 381.1 514.8 613.6 432.6 671.2 2

 3 Govt.-sponsored enterprise securities 90.4 98.4 278.3 318.2 234.1 104.9 248.9 278.1 304.5 262.3 264.7 3

 4 Mortgage pool securities 141.0 114.6 192.6 273.8 199.4 119.5 132.2 236.7 309.1 170.3 406.5 4

 5 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Private financial sectors 314.4 440.9 602.9 485.3 376.7 376.7 503.7 263.1 363.1 450.3 91.8 6

 7 Open market paper 92.2 166.7 161.0 176.2 127.7 114.6 136.7 106.5 153.2 -134.6 -85.4 7

 8 Corporate bonds 173.8 210.5 296.9 211.2 200.5 165.0 227.7 192.1 217.4 456.7 157.7 8

 9 Bank loans n.e.c. 12.6 13.2 30.1 -14.3 -0.3 3.1 10.2 -9.9 -4.4 27.8 14.5 9

10 Other loans and advances 27.9 35.6 90.2 107.1 42.5 87.0 119.2 -31.6 -4.8 107.8 -11.0 10

11 Mortgages 7.9 14.9 24.8 5.1 6.2 7.0 10.0 6.0 1.8 -7.5 16.0 11

12 By sector 545.7 653.8 1073.8 1077.3 810.1 601.2 884.8 777.9 976.7 882.9 763.1 12

13 Commercial banking 13.0 46.1 72.9 67.2 60.0 78.3 99.3 43.4 18.8 148.3 -15.6 13

14 U.S.-chartered commercial banks 11.7 29.5 52.8 41.8 36.8 70.2 67.9 13.6 -4.5 52.9 -23.3 14

15 Foreign banking offices in U.S. -0.7 -2.4 -4.8 -0.4 -0.0 -0.2 -0.3 -0.4 0.7 -0.8 -2.4 15

16 Bank holding companies 2.0 19.0 24.9 25.8 23.2 8.3 31.7 30.3 22.7 96.1 10.1 16

17 Savings institutions 25.5 19.7 52.2 48.0 27.3 57.5 69.0 -37.9 20.4 62.5 16.2 17

18 Credit unions 0.1 0.1 0.6 2.2 0.0 -2.9 0.9 1.1 1.0 -0.6 0.8 18

19 Life insurance companies 1.1 0.2 0.7 0.7 -0.7 -0.7 -1.1 -0.3 -0.7 -2.4 0.1 19

20 Government-sponsored enterprises 90.4 98.4 278.3 318.2 234.1 104.9 248.9 278.1 304.5 262.3 264.7 20

21 Federally related mortgage pools 141.0 114.6 192.6 273.8 199.4 119.5 132.2 236.7 309.1 170.3 406.5 21

22 ABS issuers 150.8 202.2 321.4 223.4 196.3 175.0 146.0 156.2 307.9 289.8 171.8 22

23 Finance companies 45.9 48.7 43.0 62.4 74.7 53.5 177.7 29.6 37.8 -42.8 35.7 23

24 Mortgage companies 4.1 -4.6 1.6 0.2 0.1 -3.0 2.7 -0.3 1.0 0.7 0.6 24

25 REITs 11.9 39.6 62.7 6.3 2.7 11.5 9.8 -2.4 -8.1 -6.1 2.2 25

26 Brokers and dealers -2.0 8.1 7.2 -17.2 15.6 44.4 -0.7 25.4 -6.6 -23.7 35.6 26

27 Funding corporations 64.1 80.7 40.7 92.2 0.7 -36.8 -0.1 48.2 -8.5 24.6 -155.5 27
Z.1, September 18, 2001 11

F.4 Credit Market Borrowing, All Sectors, by Instrument

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total 1367.2 1530.0 2140.7 2203.1 1775.3 1668.1 1902.9 1687.9 1842.1 1893.2 1802.2 1

 2 Open market paper 102.6 184.1 193.1 229.9 207.6 202.1 259.1 169.7 199.3 -367.2 -232.5 2

 3 U.S. government securities 376.4 236.0 418.3 520.7 137.6 7.2 -27.6 288.6 282.2 428.3 455.2 3

 4 Municipal securities 2.6 71.4 96.8 68.2 35.3 20.0 30.1 31.0 60.1 106.9 113.9 4

 5 Corporate and foreign bonds 357.0 422.4 550.4 457.9 429.8 396.0 412.7 468.0 442.6 893.7 617.4 5

 6 Bank loans n.e.c. 92.1 128.2 145.0 68.9 114.1 158.0 179.2 52.2 67.1 34.1 -156.5 6

 7 Other loans and advances 62.5 102.8 158.5 162.0 145.3 233.6 246.9 -15.0 115.8 83.7 92.5 7

 8 Mortgages 285.3 332.5 510.9 601.0 573.2 505.9 664.6 571.0 551.3 555.6 839.4 8

 9 Consumer credit 88.8 52.5 67.6 94.4 132.3 145.3 137.9 122.5 123.7 158.1 72.8 9

 Memo:

 Funds raised through corporate equities and mutual fund shares

10 Total net issues 231.8 181.8 102.8 146.3 149.1 387.7 163.4 211.3 -166.0 170.0 427.6 10

11 Corporate equities -5.8 -83.3 -171.8 -42.1 -94.8 80.4 -68.7 -68.1 -322.7 73.6 143.8 11

12 Nonfinancial -69.5 -114.4 -267.0 -143.5 -166.6 61.2 -245.2 -87.7 -394.8 -33.9 -35.2 12

 Foreign shares purchased by

13 U.S. residents 82.8 57.6 101.3 114.4 99.7 62.6 185.9 61.1 89.4 109.2 208.8 13

14 Financial -19.2 -26.5 -6.1 -13.0 -27.9 -43.4 -9.3 -41.5 -17.4 -1.8 -29.9 14

15 Mutual fund shares 237.6 265.1 274.6 188.3 243.9 307.3 232.0 279.4 156.7 96.4 283.8 15

F.5 Net Increase in Liabilities and Its Relation to Net Acquisition of Financial Assets

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Net flows through credit markets

 1 (from table F.4, line 1) 1367.2 1530.0 2140.7 2203.1 1775.3 1668.1 1902.9 1687.9 1842.1 1893.2 1802.2 1

 2 Official foreign exchange -6.3 0.7 6.6 -8.7 -0.4 1.5 -8.8 0.7 4.9 -1.5 4.7 2

 3 SDR certificates -0.5 -0.5 0.0 -3.0 -4.0 0.0 -8.0 -4.0 -4.0 0.0 0.0 3

 4 Treasury currency 0.5 0.5 0.6 1.0 2.4 2.2 3.2 4.2 -0.0 -1.1 1.1 4

 5 Foreign deposits 85.9 107.7 6.5 61.0 120.8 313.3 3.4 -40.8 207.4 235.5 -146.5 5

 6 Net interbank transactions -51.6 -19.7 -32.3 17.6 -20.3 -72.9 151.9 -170.6 10.6 -202.4 177.0 6

 7 Checkable deposits and currency 15.7 41.2 47.4 151.4 -71.5 -206.8 -33.8 5.0 -50.2 90.3 101.0 7

 8 Small time and savings deposits 97.2 97.1 152.4 44.7 190.7 104.6 123.0 224.5 310.8 288.3 193.1 8

 9 Large time deposits 114.0 122.5 92.1 130.6 118.4 154.1 101.2 152.9 65.2 130.6 65.9 9

10 Money market fund shares 145.4 155.9 287.2 249.1 233.3 239.7 71.5 250.9 371.1 621.4 322.5 10

11 Security RPs 41.4 120.9 91.3 169.7 110.9 275.0 155.2 278.0 -264.6 11.2 155.2 11

12 Corporate equities -5.8 -83.3 -171.8 -42.1 -94.8 80.4 -68.7 -68.1 -322.7 73.6 143.8 12

13 Mutual fund shares 237.6 265.1 274.6 188.3 243.9 307.3 232.0 279.4 156.7 96.4 283.8 13

14 Trade payables 123.3 139.7 109.2 222.3 156.4 193.5 193.9 132.8 105.4 -21.8 -10.1 14

15 Security credit 52.4 111.0 103.3 104.3 141.0 485.0 -91.4 94.7 75.6 -64.6 -82.9 15

16 Life insurance reserves 44.5 59.3 48.0 50.8 50.2 54.9 45.6 53.0 47.3 52.7 59.7 16

17 Pension fund reserves 148.3 201.4 202.1 184.5 216.9 210.8 260.8 227.1 169.0 255.6 196.7 17

18 Taxes payable 19.5 22.3 21.3 22.3 21.7 30.9 31.8 -1.6 25.9 0.6 2.0 18

19 Investment in bank personal trusts -5.3 -49.9 -41.8 -6.5 -29.7 -28.4 -33.1 -29.2 -28.0 -26.1 -22.7 19

20 Noncorporate proprietors’ equity -31.6 -71.8 -74.0 -49.1 -30.7 -48.6 -28.8 -10.7 -34.9 -29.3 -13.0 20

21 Miscellaneous 525.0 490.6 1002.5 738.1 992.3 999.5 1089.7 1283.9 595.9 570.9 932.1 21

22 Total financial sources 2917.0 3240.6 4265.8 4429.2 4122.8 4764.2 4093.4 4350.2 3283.4 3973.5 4165.8 22

 - Liabilities not identified as assets:

23 Treasury currency -0.4 -0.2 -0.1 -0.7 -1.2 -1.8 -0.7 0.9 -3.3 -3.6 -0.3 23

24 Foreign deposits 59.6 106.2 -8.5 45.8 68.7 262.7 -81.9 -99.2 193.3 178.2 -108.3 24

25 Net interbank liabilities -3.3 -19.9 3.4 3.5 17.4 25.3 5.4 -12.1 51.1 16.7 12.9 25

26 Security RPs 2.4 63.2 60.6 30.0 110.9 566.4 52.0 127.4 -302.3 -141.4 121.2 26

27 Taxes payable 23.1 28.0 19.7 6.5 14.1 9.4 10.0 -7.5 44.5 1.7 -26.9 27

28 Miscellaneous -124.5 -126.4 -137.7 -373.6 -362.4 -417.8 -352.7 -275.6 -403.7 -7.4 -291.1 28

 - Floats not included in assets:

29 Checkable deposits: Federal govt. 0.5 -2.7 2.6 -7.4 9.0 18.7 16.3 3.0 -2.1 -29.8 13.8 29

30 Other -4.0 -3.9 -3.1 -0.8 1.7 1.0 1.4 1.9 2.4 3.8 3.9 30

31 Trade credit -25.4 -29.2 -51.3 42.9 -36.8 -72.1 -50.0 -49.4 24.1 26.7 -5.0 31

 Totals identified to sectors

32 as assets 2989.2 3225.4 4380.3 4683.0 4301.5 4372.4 4493.7 4660.7 3679.4 3928.6 4445.6 32
12 Z.1, September 18, 2001

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross Domestic Product (GDP) 7813.2 8318.4 8781.6 9268.6 9872.9 9668.6 9857.6 9937.5 10028.0 10141.6 10201.6 1

 2 Personal consumption expenditures (2) 5237.5 5529.3 5856.0 6250.2 6728.4 6581.9 6674.9 6785.5 6871.4 6977.6 7047.4 2

 3 Durable goods 616.5 642.5 693.2 760.9 819.6 820.7 813.8 825.4 818.7 838.1 844.9 3

 4 Nondurable goods 1574.1 1641.6 1708.5 1831.3 1989.6 1942.5 1978.3 2012.4 2025.1 2047.1 2062.9 4

 5 Services 3047.0 3245.2 3454.3 3657.9 3919.2 3818.7 3882.8 3947.7 4027.5 4092.4 4139.6 5

 6 Gross private domestic investment 1242.7 1390.5 1538.8 1636.8 1767.5 1708.9 1792.3 1788.4 1780.3 1722.7 1667.5 6

 7 Fixed investment 1212.7 1327.7 1465.6 1578.2 1718.1 1678.0 1717.0 1735.9 1741.6 1748.2 1704.2 7

 8 Nonresidential 899.5 999.4 1101.3 1174.6 1293.1 1250.9 1288.3 1314.9 1318.2 1311.2 1258.9 8

 9 Household sector (nonprofit organizations) 44.7 55.6 61.8 62.8 69.2 66.3 68.4 70.6 71.5 72.6 71.9 9

10 Nonfinancial corporate business 659.5 710.2 769.7 872.6 949.8 926.1 937.4 974.1 961.5 967.7 928.9 10

11 Nonfarm noncorporate business 57.7 48.9 63.0 101.6 132.2 117.2 134.4 123.6 153.4 124.8 132.6 11

12 Farm business 23.8 27.5 29.1 26.9 29.0 28.3 29.5 29.3 28.7 31.0 28.0 12

13 Financial corporations 113.8 157.2 177.7 110.7 112.9 113.0 118.5 117.2 103.0 115.3 97.6 13

14 Residential 313.3 328.3 364.4 403.6 425.1 427.1 428.7 421.0 423.4 437.0 445.3 14

15 Household sector 263.0 275.0 310.5 344.5 364.8 365.9 366.8 360.7 365.7 374.5 384.8 15

16 Nonfinancial corporate business 2.4 2.7 2.7 3.0 3.2 3.2 3.2 3.2 3.2 3.3 3.3 16

17 Nonfarm noncorporate business 43.4 39.3 39.7 54.4 57.0 57.3 57.5 56.5 56.8 58.6 59.7 17

18 REITs 4.4 11.3 11.4 1.6 0.1 0.7 1.2 0.6 -2.3 0.6 -2.6 18

19 Change in private inventories 30.0 62.9 73.1 58.6 49.4 30.9 75.3 52.5 38.7 -25.5 -36.7 19

20 Nonfinancial corporate business 21.0 57.0 68.6 57.1 48.6 35.5 70.3 52.5 35.9 -24.9 -33.8 20

21 Nonfarm noncorporate business 1.1 3.0 3.6 3.0 2.6 1.9 3.7 2.8 1.9 -1.3 -1.8 21

22 Farm business 7.9 2.9 0.9 -1.5 -1.8 -6.5 1.3 -2.8 0.9 0.7 -1.1 22

23 Net U.S. exports of goods and services -89.0 -89.4 -151.7 -250.9 -364.0 -333.9 -350.7 -380.7 -390.6 -363.8 -350.5 23

24 Exports 874.2 966.4 964.9 989.8 1102.9 1059.7 1099.7 1131.1 1121.0 1117.4 1079.3 24

25 - Imports 963.1 1055.8 1116.7 1240.7 1466.9 1393.6 1450.4 1511.8 1511.6 1481.2 1429.8 25

 Government consumption expenditures and

26 gross investment 1422.0 1488.0 1538.5 1632.6 1741.0 1711.7 1741.1 1744.3 1766.9 1805.1 1837.2 26

27 Consumption expenditures (3) 1171.8 1223.3 1261.4 1327.9 1422.8 1390.6 1426.1 1430.2 1444.1 1474.2 1491.0 27

28 Federal 445.3 456.9 453.1 469.6 493.7 483.4 503.8 493.6 494.1 507.5 509.8 28

29 State and local 726.5 766.5 808.3 858.3 929.0 907.2 922.3 936.6 950.0 966.7 981.2 29

30 Gross investment (3) 250.2 264.7 277.1 304.6 318.3 321.1 315.0 314.1 322.8 330.9 346.2 30

31 Federal 86.3 81.4 86.1 94.5 96.5 95.1 97.2 93.5 100.1 97.8 100.0 31

32 State and local 163.8 183.3 191.0 210.2 221.8 226.0 217.8 220.6 222.7 233.1 246.2 32

 Memo:

33 Net U.S. income receipts from rest of the world 18.1 7.1 -3.5 -6.8 -12.1 -18.0 -16.6 -18.1 4.2 -10.5 -18.9 33

34 U.S. income receipts 245.6 281.3 286.1 313.8 384.2 360.1 387.9 386.6 402.1 378.9 350.4 34

35 - U.S. income payments 227.5 274.3 289.6 320.6 396.3 378.1 404.5 404.7 397.9 389.4 369.3 35

 Gross National Product (GNP) =

36 GDP + net U.S. income receipts 7831.3 8325.5 8778.1 9261.9 9860.8 9650.6 9841.0 9919.4 10032.2 10131.1 10182.7 36

(1) This table corresponds to NIPA table 1.1 in the Survey of Current Business, Department of Commerce.

(2) Component of personal outlays, found on table F.100, line 4.

(3) Government inventory investment is included in consumption expenditures.
Z.1, September 18, 2001 13

F.7 Distribution of National Income (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 National Income 6210.2 6618.5 7041.6 7462.1 7980.9 7796.4 7955.9 8047.1 8124.0 8169.7 8212.4 1

 2 Compensation of employees 4395.4 4651.3 4989.8 5310.8 5715.2 5562.9 5669.8 5759.2 5869.0 5955.7 6010.3 2

 3 Wages and other labor income 4116.4 4364.3 4683.5 4981.9 5371.3 5225.6 5328.0 5413.6 5518.1 5598.7 5651.6 3

 4 Employer social insurance contributions 275.4 290.0 307.0 323.7 343.9 337.3 341.8 345.6 350.9 357.0 358.7 4

 5 Wage accruals less disbursements 3.6 -2.9 -0.7 5.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments 544.8 581.2 623.8 672.0 715.0 697.5 717.9 719.2 725.2 735.2 745.7 6

 7 Nonfarm 510.5 551.5 598.2 645.4 684.4 671.0 685.4 687.6 693.5 705.4 717.0 7

 8 Farm 34.3 29.7 25.6 26.6 30.6 26.5 32.5 31.6 31.7 29.8 28.7 8

 Rental income of persons (with capital

 9 consumption adjustment) 129.7 128.4 138.6 147.7 141.6 144.9 141.4 138.3 141.7 139.6 140.8 9

 Corporate profits with inventory

10 valuation and capital consumption adjustments 754.0 833.8 777.5 825.2 876.4 870.2 892.7 895.1 847.5 789.8 761.3 10

 Corporate profits with inventory

11 valuation adjustment 729.4 800.9 739.5 773.4 833.0 821.0 847.2 854.7 809.1 753.8 729.7 11

12 Profits before tax 726.4 792.4 721.1 776.3 845.4 844.8 862.0 858.3 816.4 755.7 739.4 12

13 Domestic nonfinancial 458.8 494.5 457.6 467.7 500.9 511.3 529.5 511.0 452.0 410.0 400.4 13

14 Farm 1.4 1.6 2.8 3.0 3.3 3.1 3.2 3.3 3.4 3.5 3.6 14

15 Foreign subsidiaries 100.9 110.7 102.3 114.6 136.8 120.4 128.9 141.0 156.7 140.0 137.2 15

16 Financial 165.3 185.7 158.5 191.0 204.4 210.0 200.4 203.0 204.3 202.2 198.2 16

 Less:

17 Profits tax liability 223.7 237.2 238.9 253.0 271.5 277.0 280.4 274.9 253.5 236.8 231.0 17

18 Domestic nonfinancial 149.6 157.9 154.1 170.4 186.0 190.0 196.6 189.7 167.7 152.0 148.4 18

19 Farm 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.5 0.5 0.5 19

20 Financial 73.6 78.9 84.3 82.1 84.9 86.4 83.2 84.6 85.3 84.3 82.1 20

 Equals:

21 Profits after tax 502.7 555.2 482.3 523.3 573.9 567.8 581.6 583.4 562.9 518.9 508.4 21

22 Dividends 297.7 335.2 348.7 343.5 379.6 361.5 373.7 386.2 397.0 405.2 412.3 22

23 Domestic nonfinancial 200.9 216.4 239.7 237.3 266.1 258.4 253.6 273.0 279.1 297.8 290.9 23

24 Farm 1.0 1.7 2.5 2.6 2.9 2.8 2.9 3.0 3.1 3.1 3.2 24

25 Foreign subsidiaries 40.4 51.4 39.5 39.2 37.7 30.1 47.7 35.1 37.7 22.0 37.8 25

26 Financial 55.4 65.8 67.0 64.3 73.0 70.2 69.5 75.1 77.1 82.3 80.4 26

27 Undistributed profits 205.0 220.0 133.6 179.8 194.3 206.3 207.9 197.2 165.9 113.7 96.1 27

28 Domestic nonfinancial 108.3 120.2 63.8 60.0 48.9 62.8 79.2 48.2 5.2 -39.8 -38.9 28

29 Farm -0.1 -0.6 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.1 -0.1 29

30 Foreign subsidiaries 60.5 59.3 62.8 75.4 99.1 90.3 81.2 105.9 119.0 118.0 99.4 30

31 Financial 36.4 41.0 7.3 44.6 46.6 53.4 47.7 43.3 41.9 35.6 35.7 31

32 Inventory valuation adjustment 3.1 8.5 18.4 -2.9 -12.4 -23.8 -14.8 -3.6 -7.3 -1.9 -9.7 32

33 Capital consumption adjustment 24.6 32.9 38.0 51.7 43.4 49.2 45.5 40.4 38.4 36.0 31.6 33

34 Domestic nonfinancial 44.7 50.0 50.4 60.8 56.4 60.1 57.8 54.4 53.5 51.3 47.5 34

35 Farm 1.1 1.1 1.5 1.7 1.8 1.8 1.8 1.9 1.9 1.9 2.0 35

36 Financial -21.2 -18.2 -13.9 -10.8 -14.9 -12.7 -14.1 -15.8 -17.0 -17.2 -17.9 36

37 Net interest 386.3 423.9 511.9 506.5 532.7 520.9 534.1 535.3 540.6 549.4 554.3 37

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

38 National Income, from line 1 above 6210.2 6618.5 7041.6 7462.1 7980.9 7796.4 7955.9 8047.1 8124.0 8169.7 8212.4 38

 Plus:

39 Business transfer payments to persons 26.4 27.9 28.7 31.2 33.1 32.4 32.8 33.3 33.8 34.3 34.8 39

40 Business transfer payments to rest of the world 8.1 8.9 9.3 10.2 10.9 10.9 11.2 10.7 10.6 10.0 9.3 40

41 Indirect business tax and nontax accruals 620.0 646.2 681.3 713.1 762.7 749.4 758.3 767.6 775.6 785.7 791.0 41

42 Private consumption of fixed capital 782.0 832.4 884.3 953.3 1029.9 998.6 1019.0 1041.2 1060.9 1081.3 1114.8 42

43 Government consumption of fixed capital 174.3 181.0 187.7 198.1 211.4 206.5 209.9 213.1 215.9 218.6 221.4 43

44 Statistical discrepancy 33.0 29.7 -31.1 -72.8 -130.4 -106.1 -109.2 -156.3 -149.9 -120.7 -148.7 44

 Less:

 Subsidies less current surplus of

45 government enterprises 22.6 19.1 23.6 33.3 37.6 37.5 36.9 37.3 38.7 47.8 52.3 45

46 Net U.S. income receipts from rest of the world 18.1 7.1 -3.5 -6.8 -12.1 -18.0 -16.6 -18.1 4.2 -10.5 -18.9 46

 Equals:

47 Gross Domestic Product 7813.2 8318.4 8781.6 9268.6 9872.9 9668.6 9857.6 9937.5 10028.0 10141.6 10201.6 47

(1) This table corresponds to NIPA table 1.14 in the Survey of Current Business, Department of Commerce.

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.9 in the Survey of Current Business, Department of Commerce.
14 Z.1, September 18, 2001

F.8 Gross Saving and Investment (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 1349.1 1502.3 1647.3 1707.5 1785.6 1736.3 1799.1 1807.4 1799.6 1754.1 1746.4 1

 2 Gross private saving 1290.3 1343.8 1375.1 1348.0 1322.9 1283.7 1345.6 1329.6 1332.6 1307.9 1314.3 2

 3 Personal saving 272.1 252.9 301.5 160.8 67.6 53.4 88.0 54.4 74.7 78.8 81.5 3

 4 Undistributed corporate profits 205.0 220.0 133.6 179.8 194.3 206.3 207.9 197.2 165.9 113.7 96.1 4

 5 Nonfinancial corp. inventory valuation adjustment 3.1 8.5 18.4 -2.9 -12.4 -23.8 -14.8 -3.6 -7.3 -1.9 -9.7 5

 6 Corporate capital consumption adjustment 24.6 32.9 38.0 51.7 43.4 49.2 45.5 40.4 38.4 36.0 31.6 6

 7 Private consumption of fixed capital 782.0 832.4 884.3 953.3 1029.9 998.6 1019.0 1041.2 1060.9 1081.3 1114.8 7

 8 Corporate 543.5 581.6 620.2 669.2 727.1 703.6 719.1 736.0 749.7 763.8 782.8 8

 9 Noncorporate 238.5 250.9 264.2 284.1 302.9 295.0 299.9 305.2 311.3 317.5 332.0 9

10 Wage accruals less disbursements 3.6 -2.9 -0.7 5.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Gross government saving 58.8 158.6 272.3 359.5 462.7 452.6 453.5 477.8 467.0 446.2 432.1 11

12 Federal -51.6 33.4 132.0 210.9 314.9 307.7 304.8 326.9 320.3 303.7 288.8 12

13 Consumption of fixed capital 85.3 86.8 88.2 91.7 96.4 94.9 95.9 97.0 97.9 98.4 99.5 13

14 Current surplus or deficit (-), NIPA -136.9 -53.4 43.8 119.2 218.5 212.8 208.9 229.9 222.4 205.3 189.3 14

15 State and local 110.4 125.1 140.2 148.6 147.8 144.9 148.7 150.9 146.7 142.5 143.3 15

16 Consumption of fixed capital 89.0 94.2 99.5 106.4 114.9 111.6 114.0 116.1 118.0 120.2 121.9 16

17 Current surplus or deficit (-), NIPA 21.4 31.0 40.8 42.2 32.9 33.3 34.7 34.8 28.7 22.3 21.4 17

18 Gross investment 1382.2 1532.1 1616.2 1634.7 1655.2 1630.2 1689.9 1651.1 1649.7 1633.4 1597.7 18

19 Gross private domestic investment 1242.7 1390.5 1538.8 1636.8 1767.5 1708.9 1792.3 1788.4 1780.3 1722.7 1667.5 19

20 Fixed investment 1212.7 1327.7 1465.6 1578.2 1718.1 1678.0 1717.0 1735.9 1741.6 1748.2 1704.2 20

21 Nonresidential 899.5 999.4 1101.3 1174.6 1293.1 1250.9 1288.3 1314.9 1318.2 1311.2 1258.9 21

22 Residential 313.3 328.3 364.4 403.6 425.1 427.1 428.7 421.0 423.4 437.0 445.3 22

23 Change in private inventories 30.0 62.9 73.1 58.6 49.4 30.9 75.3 52.5 38.7 -25.5 -36.7 23

24 Gross government investment 250.2 264.7 277.1 304.6 318.3 321.1 315.0 314.1 322.8 330.9 346.2 24

25 Net foreign investment in U.S. -110.7 -123.1 -199.7 -306.7 -430.5 -399.8 -417.4 -451.4 -453.4 -420.2 -416.0 25

26 Statistical discrepancy (line 18 less line 1) 33.0 29.7 -31.1 -72.8 -130.4 -106.1 -109.2 -156.3 -149.9 -120.7 -148.7 26

(1) This table corresponds to NIPA table 5.1 in the Survey of Current Business, Department of Commerce.

F.9 Net Capital Transfers (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Capital transfers received by government (net) 23.1 26.8 32.4 32.4 36.2 37.0 36.2 35.8 35.8 38.4 37.1 1

 2 Federal -10.7 -8.4 -3.6 -7.3 -7.9 -6.3 -7.7 -8.1 -9.7 -8.9 -12.6 2

 3 Estate and gift taxes paid by persons 17.5 20.6 25.2 28.8 28.1 29.1 28.2 27.7 27.6 30.1 28.7 3

 4 - Capital transfers paid to the rest of the world (net) 0.0 0.2 0.0 4.2 0.0 0.0 0.0 0.1 0.0 0.0 0.0 4

 5 - Federal investment grants to state and local govts. 28.1 28.8 28.8 31.9 36.0 35.3 35.9 35.7 37.3 38.9 41.3 5

 6 - Investment grants to business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 State and local 33.8 35.3 36.0 39.7 44.1 43.2 43.9 43.9 45.5 47.3 49.7 7

 8 Estate and gift taxes paid by persons 5.6 6.5 7.2 7.8 8.1 7.9 8.0 8.1 8.2 8.3 8.4 8

 9 + Federal investment grants to state and local govts. 28.1 28.8 28.8 31.9 36.0 35.3 35.9 35.7 37.3 38.9 41.3 9

10 Capital transfers received by the rest of the world (net) -0.1 -0.4 -0.7 3.5 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 10

11 Capital transfers received from U.S. government (net) 0.0 0.2 0.0 4.2 0.0 0.0 0.0 0.1 0.0 0.0 0.0 11

12 - Immigrants’ transfers received by persons (net) 0.1 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 12

(1) This table corresponds to NIPA table 8.29 in the Survey of Current Business, Department of Commerce.
Z.1, September 18, 2001 15

F.10 Derivation of Measures of Personal Saving (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets 597.3 554.7 767.2 640.3 495.6 533.8 623.5 531.9 293.1 540.4 728.1 1

 2 Foreign deposits 12.4 6.5 0.1 5.2 7.7 20.0 0.2 -2.6 13.3 -6.0 -16.0 2

 3 Checkable deposits and currency -51.5 -34.4 25.8 -57.2 -23.0 -6.7 -60.0 4.4 -29.9 80.1 83.2 3

 4 Time and savings deposits 156.2 169.6 201.0 121.7 315.4 316.1 332.2 348.7 264.7 311.5 261.7 4

 5 Money market fund shares 52.7 83.5 174.5 134.5 141.3 211.1 80.8 73.5 200.0 281.0 -16.6 5

 6 Securities 117.8 -49.3 -50.3 16.1 -403.0 -568.6 -137.9 -327.0 -578.4 -501.1 77.9 6

 7 Open market paper 6.7 1.5 7.5 4.0 5.0 5.0 5.0 5.0 5.0 -22.0 -18.0 7

 8 U.S. government securities 58.7 -147.3 -153.9 78.0 -170.3 -293.8 -160.9 -114.6 -112.0 -531.5 158.7 8

 9 Municipal securities -21.8 53.0 17.8 40.4 14.7 30.6 -6.0 34.3 -0.3 56.4 24.7 9

10 Corporate and foreign bonds 71.4 77.2 83.5 16.5 2.0 -38.4 175.8 -92.2 -37.3 226.2 -163.4 10

11 Corporate equities (2) -192.6 -293.4 -248.7 -264.4 -484.1 -558.9 -367.5 -430.7 -579.5 -297.6 -203.9 11

12 Mutual fund shares 195.5 259.6 243.4 141.7 229.8 286.8 215.6 271.1 145.6 67.4 280.0 12

13 Life insurance reserves 44.5 59.3 48.0 50.8 50.2 54.9 45.6 53.0 47.3 52.7 59.7 13

14 Pension fund reserves 148.3 201.4 202.1 184.5 216.9 210.8 260.8 227.1 169.0 255.6 196.7 14

15 Investment in bank personal trusts -5.3 -49.9 -41.8 -6.5 -29.7 -28.4 -33.1 -29.2 -28.0 -26.1 -22.7 15

16 Miscellaneous and other assets 122.1 168.1 207.9 191.2 219.6 324.5 134.9 184.0 235.2 92.6 104.0 16

17 Gross investment in tangible assets 1041.0 1103.6 1217.8 1351.0 1472.6 1451.1 1475.5 1466.1 1497.6 1498.9 1519.0 17

18 Residential fixed investment 306.4 314.2 350.2 398.9 421.8 423.2 424.3 417.2 422.5 433.1 444.5 18

19 Other fixed assets (3) 126.2 132.0 153.9 191.3 230.4 211.8 232.4 223.5 253.7 228.3 232.4 19

20 Consumer durables 599.4 651.5 709.2 759.4 819.7 820.7 813.8 825.4 818.7 838.1 844.9 20

21 Inventories (3) 9.0 5.9 4.5 1.5 0.8 -4.6 5.0 -0.0 2.8 -0.6 -2.9 21

22 Consumption of fixed capital 729.6 756.9 791.1 836.8 900.9 874.4 891.5 910.2 927.3 944.7 976.2 22

23 Residential fixed investment 132.1 140.1 146.1 158.4 163.0 158.2 161.3 164.7 167.7 170.8 175.9 23

24 Other fixed assets (3) 122.2 129.8 138.6 148.8 167.1 162.7 165.4 168.5 171.6 174.6 182.4 24

25 Consumer durables 475.4 487.0 506.4 529.5 570.8 553.5 564.8 577.1 588.0 599.3 617.9 25

26 Net investment in tangible assets (4) 311.4 346.7 426.7 514.3 571.7 576.7 584.0 555.9 570.3 554.2 542.8 26

27 Residential fixed investment 174.4 174.1 204.1 240.5 258.8 265.0 263.0 252.6 254.8 262.3 268.6 27

28 Other fixed assets (3) 4.0 2.2 15.3 42.4 63.3 49.1 67.0 55.0 82.1 53.7 50.0 28

29 Consumer durables 124.1 164.5 202.8 229.9 248.8 267.2 249.0 248.3 230.7 238.8 227.0 29

30 Inventories (3) 9.0 5.9 4.5 1.5 0.8 -4.6 5.0 -0.0 2.8 -0.6 -2.9 30

31 Net increase in liabilities 502.3 566.1 738.9 835.0 789.0 970.1 848.3 759.8 577.6 582.1 849.2 31

32 Mortgage debt on nonfarm homes 241.9 252.4 382.8 427.4 415.3 354.2 482.4 433.3 391.1 428.0 611.4 32

33 Other mortgage debt (3) 29.1 31.7 86.4 102.3 88.8 76.1 114.9 79.0 85.0 82.3 125.7 33

34 Consumer credit 88.8 52.5 67.6 94.4 132.3 145.3 137.9 122.5 123.7 158.1 72.8 34

35 Policy loans 4.5 3.2 0.1 -5.1 2.8 -1.3 3.6 5.8 3.2 4.0 0.8 35

36 Security credit 15.8 36.8 21.6 75.2 5.8 217.9 -58.6 14.6 -150.9 -151.6 0.6 36

37 Other liabilities (3) 122.1 189.4 180.3 140.9 144.0 177.9 168.0 104.6 125.5 61.4 37.8 37

38 Net capital transfers (5) -23.0 -26.4 -31.7 -35.9 -35.5 -36.3 -35.4 -35.1 -35.1 -37.6 -36.3 38

39 Personal saving, with consumer durables (FOF) 429.4 361.8 486.6 355.4 313.8 176.6 394.7 363.1 320.9 550.2 458.0 39

40 Less net investment in consumer durables 124.1 164.5 202.8 229.9 248.8 267.2 249.0 248.3 230.7 238.8 227.0 40

41 = Personal saving, without consumer durables (FOF) (6) 305.4 197.3 283.8 125.5 65.0 -90.6 145.7 114.8 90.2 311.4 231.0 41

42 Personal saving (NIPA, excludes consumer durables) 272.1 252.9 301.5 160.8 67.6 53.4 88.0 54.4 74.7 78.8 81.5 42

43 Difference 33.2 -55.7 -17.7 -35.3 -2.6 -144.0 57.7 60.3 15.5 232.6 149.5 43

 Memo:

44 Disposable personal income 5677.7 5968.2 6355.6 6618.0 7031.0 6859.1 6993.7 7081.3 7189.8 7295.0 7367.1 44

 Personal saving as a percentage of disposable personal income:

45 With consumer durables (FOF) (line 39) 7.6 6.1 7.7 5.4 4.5 2.6 5.6 5.1 4.5 7.5 6.2 45

46 Without consumer durables (FOF) (line 41) 5.4 3.3 4.5 1.9 0.9 -1.3 2.1 1.6 1.3 4.3 3.1 46

47 Without consumer durables (NIPA) (line 42) 4.8 4.2 4.7 2.4 1.0 0.8 1.3 0.8 1.0 1.1 1.1 47

48 Difference (line 43) 0.6 -0.9 -0.3 -0.5 -0.0 -2.1 0.8 0.9 0.2 3.2 2.0 48

(1) Consolidated statement for household sector, nonfarm noncorporate business, and farm business.

(2) Only directly held and those in closed-end funds. Other equities are included in mutual funds (line 12), life insurance and pension reserves (lines 13 and 14), and bank personal trusts (line 15).

(3) Includes corporate farms.

(4) Line 17 less line 22.

(5) Table F.9, line 12 less lines 3 and 8.

(6) Line 41 and 42 are conceptually equivalent but measure saving using different data. Line 41 is net acquisition of financial assets (line 1) plus net investment in tangible assets net of consumer durables

 (line 26 less line 40) less net increase in liabilities (line 31) less net capital transfers (line 38). Line 42 is disposable personal income (line 44) less personal outlays (table F.100, line 4).
16 Z.1, September 18, 2001

F.100 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Personal income 6547.4 6937.0 7426.0 7777.3 8319.1 8104.4 8271.0 8381.5 8519.6 8640.2 8718.1 1

 2 - Personal taxes and nontax payments 869.7 968.8 1070.5 1159.3 1288.2 1245.3 1277.3 1300.2 1329.8 1345.2 1351.0 2

 3 = Disposable personal income 5677.7 5968.2 6355.6 6618.0 7031.0 6859.1 6993.7 7081.3 7189.8 7295.0 7367.1 3

 4 - Personal outlays 5405.6 5715.3 6054.1 6457.2 6963.3 6805.7 6905.7 7026.9 7115.1 7216.2 7285.6 4

 5 = Personal saving, NIPA (2) 272.1 252.9 301.5 160.8 67.6 53.4 88.0 54.4 74.7 78.8 81.5 5

 6 + Government insurance and pension reserves (3) 3.4 3.4 4.4 3.8 1.8 0.3 2.7 0.8 3.3 2.8 6.9 6

 7 + Net investment in consumer durables 124.1 164.5 202.8 229.9 248.8 267.2 249.0 248.3 230.7 238.8 227.0 7

 8 + Consumption of fixed capital 596.6 615.4 642.8 677.1 730.0 707.8 722.2 738.0 751.9 766.4 790.1 8

 9 + Net capital transfers (4) -23.0 -26.4 -31.7 -35.9 -35.5 -36.3 -35.4 -35.1 -35.1 -37.6 -36.3 9

10 = Gross saving and net capital transfers 973.2 1009.8 1119.9 1035.8 1012.7 992.4 1026.5 1006.3 1025.5 1049.1 1069.2 10

11 Gross investment 1002.0 950.2 1096.4 995.2 1006.7 846.6 1079.9 1064.3 1036.1 1277.1 1209.9 11

12 Capital expenditures 907.2 982.0 1081.4 1166.6 1253.6 1252.9 1249.1 1256.7 1255.9 1285.2 1301.6 12

13 Residential 263.0 275.0 310.5 344.5 364.8 365.9 366.8 360.7 365.7 374.5 384.8 13

14 Consumer durable goods 599.4 651.5 709.2 759.4 819.7 820.7 813.8 825.4 818.7 838.1 844.9 14

15 Nonprofit nonresidential 44.7 55.6 61.8 62.8 69.2 66.3 68.4 70.6 71.5 72.6 71.9 15

16 Net financial investment 94.8 -31.8 15.0 -171.5 -246.9 -406.3 -169.1 -192.4 -219.9 -8.1 -91.7 16

17 Net acquisition of financial assets 458.0 336.2 498.1 418.1 307.9 332.5 392.7 371.6 134.8 393.4 574.8 17

18 Foreign deposits 12.4 6.5 0.1 5.2 7.7 20.0 0.2 -2.6 13.3 -6.0 -16.0 18

19 Checkable deposits and currency -70.8 -56.9 -8.3 -81.4 -47.4 -30.8 -102.6 -11.0 -45.1 60.7 62.8 19

20 Time and savings deposits 152.6 158.8 191.9 111.7 311.4 312.1 324.5 347.5 261.6 306.5 256.3 20

21 Money market fund shares 50.5 79.9 164.9 124.5 131.3 209.1 80.1 57.8 178.3 253.0 -44.6 21

22 Credit market instruments 109.4 -20.2 -50.4 141.5 -137.1 -283.0 31.2 -160.1 -136.4 -259.9 13.3 22

23 Open market paper 6.7 1.5 7.5 4.0 5.0 5.0 5.0 5.0 5.0 -22.0 -18.0 23

24 U.S. government securities 53.5 -151.4 -160.1 81.1 -160.1 -283.6 -145.9 -108.1 -102.9 -520.5 169.7 24

25 Treasury -45.4 -162.4 -85.2 -14.3 -164.3 -239.6 -239.3 -139.2 -38.9 -83.2 -4.9 25

26 Savings bonds 2.0 -0.5 0.1 -0.2 -1.7 -3.5 -2.1 -0.9 -0.3 1.4 5.3 26

27 Other -47.5 -161.9 -85.4 -14.1 -162.6 -236.1 -237.3 -138.3 -38.6 -84.6 -10.2 27

28 Agency 99.0 11.0 -74.8 95.4 4.2 -44.0 93.5 31.2 -64.0 -437.3 174.6 28

29 Municipal securities -22.2 52.5 17.8 40.2 14.5 30.4 -6.2 34.1 -0.5 56.2 24.5 29

30 Corporate and foreign bonds 71.4 77.2 83.5 16.5 2.0 -38.4 175.8 -92.2 -37.3 226.2 -163.4 30

31 Mortgages 0.1 0.1 0.9 -0.3 1.5 3.5 2.4 1.0 -0.7 0.2 0.5 31

32 Corporate equities (5) -192.6 -293.4 -248.7 -264.4 -484.1 -558.9 -367.5 -430.7 -579.5 -297.6 -203.9 32

33 Mutual fund shares 195.5 259.6 243.4 141.7 229.8 286.8 215.6 271.1 145.6 67.4 280.0 33

34 Security credit 35.3 52.6 61.2 47.2 84.9 182.9 -49.6 51.0 155.1 13.2 3.3 34

35 Life insurance reserves 44.5 59.3 48.0 50.8 50.2 54.9 45.6 53.0 47.3 52.7 59.7 35

36 Pension fund reserves 148.3 201.4 202.1 184.5 216.9 210.8 260.8 227.1 169.0 255.6 196.7 36

37 Investment in bank personal trusts -5.3 -49.9 -41.8 -6.5 -29.7 -28.4 -33.1 -29.2 -28.0 -26.1 -22.7 37

38 Equity in noncorporate business -31.6 -71.8 -74.0 -49.1 -30.7 -48.6 -28.8 -10.7 -34.9 -29.3 -13.0 38

39 Miscellaneous assets 9.7 10.3 9.7 12.4 4.7 5.5 16.3 8.4 -11.5 3.2 2.9 39

40 Net increase in liabilities 363.1 368.0 483.1 589.6 554.8 738.8 561.9 564.0 354.6 401.5 666.5 40

41 Credit market instruments 338.5 322.1 454.2 506.3 543.0 516.6 612.7 544.4 498.4 549.5 660.9 41

42 Home mortgages (6) 225.5 234.7 345.7 383.7 377.3 321.8 438.9 391.9 356.7 385.1 572.1 42

43 Consumer credit 88.8 52.5 67.6 94.4 132.3 145.3 137.9 122.5 123.7 158.1 72.8 43

44 Municipal securities 6.6 10.0 12.0 10.4 5.8 3.3 10.2 4.9 4.6 4.9 0.9 44

45 Bank loans n.e.c. 0.6 8.1 6.3 -7.2 8.2 34.1 -5.9 7.4 -2.8 -18.1 -25.8 45

46 Other loans and advances 12.4 18.1 13.3 14.6 16.4 15.8 18.6 14.3 16.8 19.3 17.2 46

47 Commercial mortgages 4.7 -1.2 9.4 10.4 3.1 -3.7 13.0 3.5 -0.6 0.2 23.7 47

48 Security credit 15.8 36.8 21.6 75.2 5.8 217.9 -58.6 14.6 -150.9 -151.6 0.6 48

49 Trade payables 8.0 8.9 8.7 6.0 5.9 7.1 7.0 5.6 3.9 6.9 4.7 49

 Deferred and unpaid

50 life insurance premiums 0.8 0.3 -1.4 2.1 0.1 -2.9 0.8 -0.6 3.2 -3.3 0.2 50

51 Discrepancy -28.9 59.6 23.4 40.6 6.0 145.8 -53.4 -57.9 -10.6 -228.0 -140.7 51

(1) Sector includes farm households. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations.

(2) See table F.10 for derivation of alternative measures of personal saving.

(3) Railroad Retirement Board and federal government life insurance reserves.

(4) Table F.9, line 12 less lines 3 and 8.

(5) Only directly held and those in closed-end funds. Other equities are included in mutual funds (line 33), life insurance and pension reserves (lines 35 and 36), and bank personal trusts (line 37).

(6) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 24.
Z.1, September 18, 2001 17

F.101 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Income before taxes 1062.8 1134.1 1140.7 1200.6 1274.2 1268.5 1305.7 1287.2 1235.6 1202.8 1204.2 1

 2 Gross saving and net capital transfers 810.0 869.6 864.1 911.0 966.9 941.2 970.3 988.2 967.8 940.2 935.4 2

 3 Gross investment 826.5 787.5 944.3 1008.5 1051.7 1036.9 1067.8 1060.1 1041.9 976.9 968.1 3

 4 Capital expenditures 821.6 900.2 981.5 1118.8 1221.1 1163.0 1238.6 1239.9 1242.8 1160.1 1116.2 4

 5 Fixed investment 786.7 828.6 904.3 1058.5 1171.1 1132.1 1162.1 1186.7 1203.6 1185.3 1152.6 5

 6 Residential 45.8 42.0 42.5 57.4 60.2 60.5 60.7 59.6 60.0 61.9 63.1 6

 7 Nonresidential 740.9 786.6 861.8 1001.1 1110.9 1071.7 1101.4 1127.1 1143.6 1123.4 1089.5 7

 8 Change in inventories 30.0 62.9 73.1 58.6 49.4 30.9 75.3 52.5 38.7 -25.5 -36.7 8

 9 Access rights from federal government 4.8 8.8 4.1 1.7 0.6 0.0 1.2 0.7 0.5 0.3 0.3 9

10 Net financial investment 4.9 -112.7 -37.1 -110.3 -169.4 -126.2 -170.8 -179.8 -200.9 -183.1 -148.1 10

11 Net acquisition of financial assets 498.6 282.1 759.0 798.4 704.6 975.2 856.7 643.4 343.2 318.6 287.0 11

12 Foreign deposits 10.5 -5.1 7.4 -2.3 -3.9 -23.6 16.8 53.0 -61.7 -23.9 -12.1 12

13 Checkable deposits and currency 56.1 53.2 48.9 98.9 54.3 101.5 89.2 41.1 -14.7 -63.3 -17.9 13

14 Time and savings deposits 4.2 3.4 4.1 14.0 2.9 -23.1 11.0 5.3 18.4 6.0 6.4 14

15 Money market fund shares 9.9 23.9 36.1 33.1 50.4 9.9 3.6 79.0 109.1 158.2 140.6 15

16 Security RPs 1.5 0.7 -0.4 1.1 -0.1 3.1 -7.7 -0.9 5.0 -2.2 -2.6 16

17 Credit market instruments -6.0 -9.7 2.2 4.3 7.6 54.4 62.3 -54.8 -31.4 35.8 -51.7 17

18 Commercial paper 11.4 4.6 3.3 4.3 -0.4 -6.1 -0.1 7.5 -3.0 13.9 -10.3 18

19 U.S. government securities 0.2 -36.6 5.5 -5.2 -8.2 8.1 4.3 -3.3 -42.0 -8.8 -22.3 19

20 Municipal securities -5.4 -3.1 -1.5 -3.2 11.0 6.5 49.8 -34.6 22.4 -3.8 5.2 20

21 Mortgages -4.9 24.3 -1.1 3.0 2.9 2.9 10.2 -2.7 1.2 1.0 0.6 21

22 Consumer credit -7.3 1.2 -4.1 5.4 2.4 43.0 -1.8 -21.8 -10.0 33.6 -24.9 22

23 Mutual fund shares 3.3 -8.2 7.3 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 23

24 Trade receivables 117.6 128.6 127.0 159.2 143.5 226.9 189.9 124.7 32.6 -98.8 -20.7 24

25 Miscellaneous assets 301.4 95.4 526.4 492.0 451.7 627.9 493.3 397.8 287.8 308.5 246.7 25

26 Net increase in liabilities 493.7 394.8 796.2 908.7 874.0 1101.4 1027.5 823.2 544.1 501.7 435.1 26

27 Credit market instruments 256.4 403.2 541.7 610.4 594.8 637.2 745.2 459.4 537.2 355.8 480.0 27

28 Commercial paper -0.9 13.7 24.4 37.4 48.1 29.8 110.4 56.1 -4.0 -207.2 -141.5 28

29 Municipal securities 3.1 4.2 5.8 5.1 1.4 2.2 0.1 1.0 2.1 2.3 3.3 29

30 Corporate bonds 116.3 150.5 218.7 229.9 175.0 186.2 153.8 184.4 175.6 403.7 423.7 30

31 Bank loans n.e.c. 69.9 98.4 102.0 90.0 94.9 105.4 169.2 42.9 62.2 11.4 -118.3 31

32 Other loans and advances 20.8 52.2 59.8 46.3 88.8 132.9 109.0 5.4 108.0 -32.2 85.2 32

33 Mortgages 47.3 84.2 131.1 201.8 186.6 180.7 202.7 169.6 193.3 177.9 227.5 33

34 Corporate equities -69.5 -114.4 -267.0 -143.5 -166.6 61.2 -245.2 -87.7 -394.8 -33.9 -35.2 34

35 Trade payables 81.4 97.5 81.5 170.3 115.4 140.7 129.2 126.5 65.2 -33.3 -29.8 35

36 Taxes payable 14.5 16.6 15.6 15.3 14.5 25.0 27.4 -10.4 15.9 -2.8 -5.7 36

37 Miscellaneous liabilities 254.9 78.6 505.1 318.4 375.1 315.3 416.2 393.3 375.7 247.5 69.0 37

38 Proprietors’ net investment -44.0 -86.7 -80.6 -62.2 -59.1 -78.0 -45.3 -57.9 -55.1 -31.6 -43.2 38

39 Discrepancy -16.6 82.1 -80.3 -97.5 -84.8 -95.6 -97.5 -71.9 -74.1 -36.7 -32.7 39

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
18 Z.1, September 18, 2001

F.102 Nonfarm Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Profits before tax (book) 458.8 494.5 457.6 467.7 500.9 511.3 529.5 511.0 452.0 410.0 400.4 1

 2 - Profit tax accruals 149.6 157.9 154.1 170.4 186.0 190.0 196.6 189.7 167.7 152.0 148.4 2

 3 - Dividends 200.9 216.4 239.7 237.3 266.1 258.4 253.6 273.0 279.1 297.8 290.9 3

 4 + Consumption of fixed capital 504.2 539.7 569.6 617.3 658.8 643.7 653.8 663.8 673.8 683.8 696.6 4

 5 = U.S. internal funds, book 612.5 659.9 633.4 677.3 707.7 706.6 733.0 712.0 679.0 644.0 657.7 5

 6 + Foreign earnings retained abroad 60.5 59.3 62.8 75.4 99.1 90.3 81.2 105.9 119.0 118.0 99.4 6

 7 + Inventory valuation adjustment (IVA) 3.1 8.5 18.4 -2.9 -12.4 -23.8 -14.8 -3.6 -7.3 -1.9 -9.7 7

 8 + Net capital transfers (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 = Total internal funds + IVA 676.0 727.6 714.5 749.9 794.4 773.1 799.4 814.3 790.7 760.1 747.4 9

10 Gross investment 692.6 645.5 794.7 847.3 879.2 868.7 896.9 886.2 864.9 796.8 780.1 10

11 Capital expenditures 687.7 778.6 845.1 934.4 1002.1 964.9 1012.1 1030.5 1001.1 946.3 898.8 11

12 Fixed investment (2) 661.8 712.9 772.4 875.6 953.0 929.3 940.6 977.3 964.7 970.9 932.3 12

13 Inventory change + IVA 21.0 57.0 68.6 57.1 48.6 35.5 70.3 52.5 35.9 -24.9 -33.8 13

14 Access rights from federal government 4.8 8.8 4.1 1.7 0.6 0.0 1.2 0.7 0.5 0.3 0.3 14

15 Net financial investment 4.8 -133.1 -50.4 -87.1 -123.0 -96.2 -115.1 -144.3 -136.2 -149.5 -118.6 15

16 Net acquisition of financial assets 403.3 150.3 570.6 638.4 576.0 851.9 671.2 541.0 239.9 203.2 177.0 16

17 Foreign deposits 10.5 -5.1 7.4 -2.3 -3.9 -23.6 16.8 53.0 -61.7 -23.9 -12.1 17

18 Checkable deposits and currency 36.8 30.7 14.9 74.7 29.9 77.3 46.6 25.7 -29.9 -82.8 -38.3 18

19 Time and savings deposits 0.7 -7.3 -5.0 4.0 -1.1 -27.1 3.3 4.1 15.2 1.0 1.0 19

20 Money market fund shares 7.7 20.2 26.5 23.1 40.4 7.9 2.9 63.4 87.4 130.2 112.6 20

21 Security RPs 1.5 0.7 -0.4 1.1 -0.1 3.1 -7.7 -0.9 5.0 -2.2 -2.6 21

22 Commercial paper 11.4 4.6 3.3 4.3 -0.4 -6.1 -0.1 7.5 -3.0 13.9 -10.3 22

23 U.S. government securities -4.9 -40.8 -0.6 -2.1 2.0 18.3 19.3 3.3 -32.9 2.2 -11.3 23

24 Municipal securities -5.8 -3.6 -1.6 -3.4 10.8 6.3 49.6 -34.8 22.2 -4.0 5.0 24

25 Mortgages -3.6 25.9 -13.0 -7.0 -5.0 -5.0 -5.0 -5.0 -5.0 -5.0 -5.0 25

26 Consumer credit -7.3 1.2 -4.1 5.4 2.4 43.0 -1.8 -21.8 -10.0 33.6 -24.9 26

27 Trade receivables 88.1 93.5 86.3 113.4 102.7 186.1 111.6 107.7 5.5 -118.8 -34.7 27

28 Mutual fund shares 3.3 -8.2 7.3 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 28

29 Miscellaneous assets 264.9 38.6 449.6 429.1 400.1 573.4 437.5 340.6 249.0 260.8 199.3 29

30 U.S. direct investment abroad (3) 76.8 84.3 129.1 136.2 122.0 128.5 95.2 117.9 146.2 138.5 121.9 30

31 Insurance receivables 2.6 1.9 1.7 1.0 -0.3 1.5 5.7 2.9 -11.4 3.3 3.8 31

32 Equity in GSEs -0.2 -1.1 -0.7 -0.6 0.0 -0.1 -1.5 0.3 1.2 -1.3 9.1 32

33 Investment in finance co. subs. 4.6 2.2 -1.4 31.0 11.3 42.6 -16.6 14.9 4.4 -16.1 14.9 33

34 Other 181.2 -48.7 321.0 261.4 267.2 400.9 354.7 204.5 108.5 136.4 49.6 34

35 Net increase in liabilities 398.5 283.5 621.0 725.5 699.0 948.1 786.4 685.3 376.2 352.7 295.6 35

36 Net funds raised in markets 114.2 186.9 127.8 305.7 270.9 548.9 305.6 235.2 -6.3 194.3 312.9 36

37 Net new equity issues -69.5 -114.4 -267.0 -143.5 -166.6 61.2 -245.2 -87.7 -394.8 -33.9 -35.2 37

38 Credit market instruments 183.7 301.3 394.8 449.2 437.5 487.7 550.8 322.9 388.5 228.2 348.1 38

39 Commercial paper -0.9 13.7 24.4 37.4 48.1 29.8 110.4 56.1 -4.0 -207.2 -141.5 39

40 Municipal securities (4) 3.1 4.2 5.8 5.1 1.4 2.2 0.1 1.0 2.1 2.3 3.3 40

41 Corporate bonds (3) 116.3 150.5 218.7 229.9 175.0 186.2 153.8 184.4 175.6 403.7 423.7 41

42 Bank loans n.e.c. 40.4 51.1 81.8 73.0 74.3 84.9 134.5 36.3 41.5 8.5 -95.7 42

43 Other loans and advances 18.5 48.5 47.3 37.6 75.8 116.1 94.7 -7.6 100.0 -31.9 72.1 43

44 Savings institutions 1.5 1.6 2.7 3.2 4.3 5.6 3.9 5.0 2.8 4.1 4.8 44

45 Finance companies 7.1 8.1 26.1 51.9 59.4 94.6 77.2 45.1 20.7 -10.6 42.4 45

46 U.S. government -1.3 -0.3 -0.1 -0.3 -0.4 -0.6 -0.4 -0.7 -0.0 0.3 -1.2 46

47 Acceptance liabilities to banks -0.7 -2.6 -4.3 -2.2 -0.0 2.8 -0.6 -3.2 0.8 9.9 -3.7 47

48 Rest of the world 3.9 17.3 -1.0 -22.7 -2.2 -17.6 16.9 -40.6 32.4 -32.2 24.6 48

49 ABS issuers 8.1 24.4 23.8 7.7 14.7 31.3 -2.3 -13.2 43.2 -3.2 5.1 49

50 Mortgages 6.5 33.4 16.8 66.3 63.0 68.6 57.3 52.7 73.3 52.9 86.2 50

51 Trade payables 49.5 65.1 57.6 144.4 92.1 113.7 94.4 113.0 47.4 -47.6 -41.8 51

52 Taxes payable 9.6 9.3 4.8 7.0 7.0 16.3 16.3 -15.2 10.5 -6.8 -8.9 52

53 Miscellaneous liabilities 225.2 22.1 430.7 268.4 329.0 269.2 370.0 352.3 324.6 212.8 33.4 53

54 Foreign direct investment in U.S. 72.0 100.9 144.4 262.6 179.7 9.6 307.3 291.4 110.3 124.6 105.0 54

55 Pension fund contributions payable 4.1 7.1 1.9 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 55

56 Other 149.1 -85.9 284.5 4.8 148.4 258.7 61.7 59.8 213.3 87.2 -72.7 56

57 Discrepancy -16.6 82.1 -80.3 -97.5 -84.8 -95.6 -97.5 -71.9 -74.1 -36.7 -32.7 57

 Memo:

58 Financing gap (5) 72.2 110.3 193.4 260.0 306.9 282.1 293.8 322.1 329.4 304.2 250.7 58

(1) Table F.9, line 6.

(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 10 and 16 respectively.

(3) 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.

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

(5) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
Z.1, September 18, 2001 19

F.103 Nonfarm Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net income with IVA and CCAdj 569.7 609.9 657.6 706.3 742.7 730.7 743.7 744.6 751.9 763.0 775.1 1

 2 Gross saving = capital consumption 110.8 118.5 124.4 134.3 143.4 140.0 142.1 144.5 147.1 149.5 156.3 2

 3 Gross investment 110.8 118.5 124.4 134.3 143.4 140.0 142.1 144.5 147.1 149.5 156.3 3

 4 Capital expenditures 102.2 91.1 106.3 159.0 191.7 176.4 195.6 182.9 212.1 182.1 190.5 4

 5 Fixed investment (1) 101.1 88.1 102.7 156.0 189.2 174.5 191.9 180.1 210.2 183.4 192.3 5

 6 Change in inventories 1.1 3.0 3.6 3.0 2.6 1.9 3.7 2.8 1.9 -1.3 -1.8 6

 7 Net financial investment 8.5 27.4 18.1 -24.7 -48.3 -36.4 -53.5 -38.3 -65.0 -32.6 -34.2 7

 8 Net acquisition of financial assets 95.4 131.1 186.0 160.6 129.3 124.1 184.8 102.0 106.5 115.3 109.3 8

 9 Checkable deposits and currency 19.3 22.2 32.1 25.0 25.0 25.0 43.4 15.9 15.7 20.0 20.8 9

10 Time and savings deposits 3.5 10.7 9.1 10.0 4.0 4.0 7.7 1.2 3.1 5.0 5.4 10

11 Money market mutual funds 2.2 3.7 9.7 10.0 10.0 2.0 0.7 15.7 21.6 28.0 28.0 11

12 Treasury securities 5.2 4.1 6.1 -3.1 -10.2 -10.2 -15.0 -6.5 -9.1 -11.0 -11.0 12

13 Municipal securities 0.4 0.5 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 13

14 Mortgages -1.4 -1.6 11.9 10.0 7.9 7.9 15.2 2.3 6.2 6.0 5.6 14

15 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Trade receivables 29.5 35.1 40.7 45.8 40.8 40.8 78.3 17.0 27.1 20.0 14.0 16

17 Miscellaneous assets 36.6 56.4 76.3 62.7 51.6 54.4 54.2 56.3 41.6 47.1 46.3 17

18 Insurance receivables 0.6 0.5 0.4 0.2 -0.1 0.4 1.4 0.7 -2.7 0.8 0.9 18

19 Equity investment in GSEs (2) 0.7 0.0 -0.1 0.0 -0.0 0.4 -0.3 -0.1 0.1 -0.1 -0.3 19

20 Other 35.2 55.9 75.9 62.4 51.7 53.7 53.2 55.7 44.2 46.4 45.7 20

21 Net increase in liabilities 86.8 103.7 167.9 185.4 177.7 160.5 238.3 140.3 171.5 147.9 143.5 21

22 Credit market instruments 67.8 95.7 138.9 155.7 146.0 135.7 184.7 129.3 134.2 121.3 125.4 22

23 Bank loans n.e.c. 28.9 43.8 18.9 17.9 17.9 18.3 33.4 7.3 12.5 0.7 -20.2 23

24 Other loans and advances 0.7 4.2 12.3 8.1 11.4 12.6 15.9 11.6 5.5 0.1 13.4 24

25 Mortgages 38.2 47.7 107.7 129.7 116.7 104.8 135.4 110.4 116.2 120.5 132.2 25

26 Trade payables 30.6 31.0 23.1 25.5 22.4 26.0 33.2 14.3 16.1 12.8 11.2 26

27 Taxes payable 4.9 7.3 10.7 8.3 7.5 8.7 11.1 4.8 5.4 4.0 3.2 27

28 Miscellaneous liabilities 29.7 56.5 74.3 50.1 46.1 46.1 46.2 41.1 51.1 34.7 35.6 28

29 Proprietors’ net investment -46.1 -86.8 -79.1 -54.2 -44.3 -55.9 -36.8 -49.2 -35.3 -24.9 -32.0 29

(1) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 17 respectively.

(2) Equity in the Farm Credit System.

F.104 Farm Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Proprietors’ net income with IVA and CCAdj 34.3 29.7 25.6 26.6 30.6 26.5 32.5 31.6 31.7 29.8 28.7 1

 2 Net saving (corporate) 1.0 0.6 1.3 1.5 1.6 1.5 1.6 1.6 1.7 1.8 1.9 2

 3 Consumption of fixed capital 22.3 23.0 23.9 25.4 27.5 26.6 27.2 27.8 28.3 28.8 29.7 3

 4 Corporate 3.2 3.3 3.9 4.2 4.5 4.4 4.5 4.6 4.7 4.8 4.9 4

 5 Noncorporate 19.1 19.7 19.9 21.2 22.9 22.2 22.7 23.2 23.6 24.1 24.8 5

 6 Gross saving 23.2 23.5 25.2 26.9 29.1 28.2 28.7 29.4 30.0 30.6 31.6 6

 7 Gross investment 23.2 23.5 25.2 26.9 29.1 28.2 28.7 29.4 30.0 30.6 31.6 7

 8 Capital expenditures 31.6 30.4 30.0 25.4 27.2 21.8 30.8 26.5 29.6 31.7 26.9 8

 9 Fixed investment (2) 23.8 27.5 29.1 26.9 29.0 28.3 29.5 29.3 28.7 31.0 28.0 9

10 Change in inventories 7.9 2.9 0.9 -1.5 -1.8 -6.5 1.3 -2.8 0.9 0.7 -1.1 10

11 Net financial investment -8.4 -6.9 -4.8 1.5 1.9 6.4 -2.1 2.9 0.4 -1.0 4.7 11

12 Net acquisition of financial assets -0.1 0.7 2.5 -0.6 -0.7 -0.8 0.8 0.4 -3.2 0.1 0.8 12

13 Checkable deposits and currency -0.0 0.2 1.9 -0.8 -0.6 -0.8 -0.8 -0.4 -0.5 -0.5 -0.4 13

14 Miscellaneous assets -0.1 0.4 0.5 0.2 -0.1 0.0 1.6 0.8 -2.7 0.6 1.2 14

15 Insurance receivables 0.6 0.4 0.4 0.2 -0.1 0.3 1.3 0.7 -2.6 0.8 0.9 15

16 Equity investment in GSEs (3) -0.6 0.0 0.1 -0.0 -0.0 -0.3 0.3 0.2 -0.1 -0.1 0.3 16

17 Net increase in liabilities 8.3 7.6 7.3 -2.1 -2.6 -7.2 2.9 -2.5 -3.6 1.2 -3.9 17

18 Credit market instruments 4.9 6.2 8.0 5.5 11.3 13.8 9.7 7.2 14.5 6.3 6.5 18

19 Bank loans n.e.c. 0.6 3.5 1.2 -0.9 2.7 2.2 1.2 -0.8 8.2 2.2 -2.3 19

20 Other loans and advances 1.6 -0.5 0.3 0.6 1.7 4.2 -1.6 1.5 2.5 -0.4 -0.3 20

21 Mortgages 2.7 3.1 6.5 5.8 6.9 7.4 10.1 6.5 3.8 4.5 9.1 21

22 Trade payables 1.3 1.4 0.8 0.4 0.9 1.1 1.6 -0.9 1.7 1.5 0.8 22

23 Proprietors’ net investment 2.2 0.0 -1.5 -8.0 -14.8 -22.1 -8.5 -8.7 -19.8 -6.7 -11.2 23

(1) Corporate and noncorporate farms.

(2) Nonresidential fixed investment, shown in table F.6, line 12.

(3) Equity in the Farm Credit System.
20 Z.1, September 18, 2001

F.105 State and Local Governments, Excluding Employee Retirement Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Current receipts, NIPA basis 960.4 1011.4 1074.4 1143.8 1222.7 1194.5 1215.4 1234.3 1246.5 1273.4 1294.2 1

 2 Personal tax and nontax receipts 199.6 217.0 235.5 255.9 278.7 268.7 276.2 280.4 289.3 293.8 291.4 2

 3 Corporate profits tax accruals 33.0 34.2 34.6 34.8 36.8 37.7 38.2 37.3 34.1 31.8 31.1 3

 4 Indirect business tax and nontax accruals 524.9 552.6 583.9 612.5 651.6 640.8 646.8 655.7 662.9 673.5 679.9 4

 5 Contributions for social insurance 12.4 10.9 10.2 10.1 10.1 10.1 10.0 10.0 10.1 10.3 10.6 5

 6 Federal grants-in-aid 190.4 196.8 210.3 230.5 245.6 237.2 244.2 250.9 250.1 264.0 281.2 6

 7 Current expenditures, NIPA basis 939.0 980.4 1033.7 1101.6 1189.8 1161.2 1180.7 1199.5 1217.8 1251.1 1272.8 7

 8 Consumption expenditures 726.5 766.5 808.3 858.3 929.0 907.2 922.3 936.6 950.0 966.7 981.2 8

 9 Transfer payments to persons 224.4 227.6 235.3 254.0 270.7 263.9 268.3 272.7 277.8 282.9 288.3 9

10 Net interest paid 0.9 -0.9 0.4 -0.2 -0.3 -0.3 -0.4 -0.2 -0.2 -0.5 -0.9 10

11 - Dividends received by government 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 11

12 Subsidies less current surplus of govt. enterprises -12.5 -12.4 -9.9 -10.1 -9.2 -9.2 -9.1 -9.2 -9.4 2.4 4.6 12

13 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Current surplus or deficit (-), NIPA basis 21.4 31.0 40.8 42.2 32.9 33.3 34.7 34.8 28.7 22.3 21.4 14

15 + Consumption of fixed capital 89.0 94.2 99.5 106.4 114.9 111.6 114.0 116.1 118.0 120.2 121.9 15

16 + Net capital transfers (2) 33.8 35.3 36.0 39.7 44.1 43.2 43.9 43.9 45.5 47.3 49.7 16

17 = Gross saving and net capital transfers 144.1 160.4 176.2 188.3 191.9 188.1 192.6 194.8 192.2 189.8 193.0 17

18 Gross investment 153.6 121.3 227.1 216.2 220.5 223.7 239.7 215.3 203.3 174.1 179.2 18

19 Fixed investment 163.8 183.3 191.0 210.2 221.8 226.0 217.8 220.6 222.7 233.1 246.2 19

20 Net financial investment -10.3 -62.0 36.1 6.1 -1.3 -2.3 21.9 -5.3 -19.4 -59.0 -67.0 20

21 Net acq. of financial assets 13.8 25.4 146.9 87.5 53.3 43.9 65.5 43.8 59.8 65.9 68.1 21

22 Checkable deposits and currency -5.5 4.4 -3.9 3.9 1.0 -5.9 -7.2 0.2 17.0 2.3 5.3 22

23 Time and savings deposits 10.6 5.8 12.8 10.9 9.4 -18.4 20.3 7.0 28.9 -11.5 -1.8 23

24 Security RPs 32.1 3.6 7.2 5.0 9.7 51.3 -9.4 12.0 -15.0 19.0 17.2 24

25 Credit market instruments -33.7 0.1 134.5 43.4 9.2 1.2 39.9 -16.4 12.1 1.5 -24.8 25

26 Open market paper 20.3 14.3 28.0 1.9 7.6 6.9 17.5 -4.0 10.0 4.0 -17.2 26

27 U.S. government securities -68.1 -18.5 93.5 26.0 -7.1 -14.4 11.7 -21.7 -4.1 -20.7 -18.9 27

28 Treasury -32.8 -17.7 30.0 -2.5 -30.6 -37.5 -15.2 -45.7 -24.1 -48.5 -41.5 28

29 Agency -35.3 -0.8 63.6 28.5 23.5 23.1 26.9 24.0 20.0 27.8 22.7 29

30 Municipal securities -0.5 -0.7 -1.4 -1.5 0.6 -1.7 1.6 3.2 -0.8 2.1 -0.6 30

31 Corporate and foreign bonds 10.7 1.3 10.2 12.6 3.7 6.1 4.7 1.6 2.4 11.5 7.2 31

32 Mortgages 3.8 3.7 4.1 4.3 4.5 4.4 4.5 4.5 4.6 4.6 4.7 32

33 Corporate equities 14.5 16.8 9.4 3.5 -1.2 -5.6 10.7 -4.1 -5.6 16.9 21.0 33

34 Mutual fund shares 6.0 -7.4 -12.3 4.3 0.8 -10.7 5.6 4.5 4.0 9.4 7.9 34

35 Taxes receivable -2.0 3.3 9.1 8.8 11.9 13.3 16.6 9.9 7.7 4.6 3.4 35

36 Miscellaneous assets -8.1 -1.2 -9.7 7.7 12.3 18.7 -10.9 30.8 10.7 23.6 39.8 36

37 Net increase in liabilities 24.1 87.5 110.8 81.4 54.5 46.2 43.6 49.2 79.2 124.9 135.0 37

38 Credit market instruments -6.8 56.1 80.3 52.3 27.2 12.9 18.2 23.8 53.7 100.1 110.1 38

39 Municipal securities -7.2 57.3 79.1 52.7 28.2 14.5 19.8 25.1 53.4 99.7 109.7 39

40 Short-term 6.3 8.3 -6.3 3.6 3.2 4.4 8.4 -7.2 7.1 17.4 21.9 40

41 Other -13.4 49.0 85.4 49.1 25.0 10.1 11.5 32.3 46.3 82.3 87.7 41

42 U.S. government loans 0.4 -1.2 1.2 -0.4 -1.0 -1.6 -1.6 -1.3 0.4 0.4 0.4 42

43 Trade payables 30.9 31.4 30.5 29.1 27.4 33.2 25.4 25.4 25.5 24.8 25.0 43

44 Discrepancy -9.4 39.1 -50.9 -27.9 -28.6 -35.6 -47.1 -20.5 -11.1 15.7 13.8 44

(1) Data for retirement funds are shown in table F.120.

(2) Table F.9, line 7.
Z.1, September 18, 2001 21

F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Current receipts, NIPA basis 1499.1 1625.5 1749.7 1872.8 2046.8 2003.0 2042.4 2064.3 2077.5 2087.4 2092.7 1

 2 Personal tax and nontax receipts 670.0 751.8 834.9 903.3 1009.5 976.6 1001.1 1019.8 1040.5 1051.4 1059.6 2

 3 Corporate profits tax accruals 190.6 203.0 204.3 218.3 234.6 239.3 242.2 237.6 219.4 205.0 199.9 3

 4 Indirect business tax and nontax accruals 95.1 93.7 97.4 100.6 111.2 108.6 111.5 111.9 112.7 112.2 111.1 4

 5 Contributions for social insurance 543.4 577.0 613.1 650.7 691.5 678.5 687.6 695.0 704.9 718.8 722.1 5

 6 Current expenditures, NIPA basis 1636.0 1678.8 1705.9 1753.6 1828.3 1790.2 1833.5 1834.4 1855.1 1882.1 1903.4 6

 7 Consumption expenditures 445.3 456.9 453.1 469.6 493.7 483.4 503.8 493.6 494.1 507.5 509.8 7

 8 Transfers payments (net) 691.7 717.5 730.6 746.2 779.3 758.7 775.1 780.5 802.9 811.7 822.5 8

 9 Grants-in-aid to state and local governments 190.4 196.8 210.3 230.5 245.6 237.2 244.2 250.9 250.1 264.0 281.2 9

10 Net interest paid 273.6 276.2 278.5 263.9 262.9 264.2 264.4 262.9 259.9 253.5 242.2 10

11 Subsidies less current surplus of govt. enterprises 35.1 31.5 33.5 43.4 46.8 46.7 46.0 46.5 48.1 45.4 47.7 11

12 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Current surplus or deficit (-), NIPA basis -136.9 -53.4 43.8 119.2 218.5 212.8 208.9 229.9 222.4 205.3 189.3 13

14 + Consumption of fixed capital 85.3 86.8 88.2 91.7 96.4 94.9 95.9 97.0 97.9 98.4 99.5 14

15 - Insurance and pension reserves (1) 3.4 3.4 4.4 3.8 1.8 0.3 2.7 0.8 3.3 2.8 6.9 15

16 + Net capital transfers (2) -10.7 -8.4 -3.6 -7.3 -7.9 -6.3 -7.7 -8.1 -9.7 -8.9 -12.6 16

17 = Gross saving and net capital transfers -65.6 21.6 124.0 199.7 305.2 301.2 294.4 318.1 307.4 292.0 269.2 17

18 Gross investment -121.6 6.4 101.4 201.9 310.1 151.5 419.0 288.4 381.5 51.8 294.3 18

19 Fixed investment 86.3 81.4 86.1 94.5 96.5 95.1 97.2 93.5 100.1 97.8 100.0 19

20 Access rights sales -4.8 -8.8 -4.1 -1.7 -0.6 0.0 -1.2 -0.7 -0.5 -0.3 -0.3 20

21 Net financial investment -203.1 -66.2 19.3 109.2 214.2 56.4 322.9 195.6 281.9 -45.7 194.6 21

22 Net acq. of financial assets -4.9 -9.6 -5.3 76.3 -57.8 -123.8 -45.5 15.8 -77.7 55.5 17.1 22

23 Gold, SDRs, and official foreign exchange -2.9 2.5 6.0 -7.1 -0.6 1.9 -8.3 -1.5 5.3 -1.2 5.0 23

24 Checkable deposits and currency 11.0 -0.5 -16.7 66.2 -65.1 -140.3 -58.3 10.0 -71.7 40.1 -31.6 24

25 Time and savings deposits 1.4 1.0 1.3 0.7 1.0 0.4 1.0 2.1 0.4 8.2 5.9 25

26 Credit market instruments -7.2 5.1 13.5 5.8 7.3 6.5 7.7 4.5 10.6 4.6 9.4 26

27 Agency securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Mortgages -7.2 -4.5 -0.8 -0.1 -0.9 -3.8 0.1 -1.3 1.6 -2.4 -0.6 28

29 Other loans and advances 0.1 9.6 14.3 5.9 8.2 10.3 7.6 5.8 9.1 7.0 9.9 29

30 Trade receivables 0.9 -3.2 1.5 4.6 5.3 6.0 7.2 4.3 3.7 9.9 1.9 30

31 Taxes receivable -1.6 -9.0 -7.5 7.0 -4.3 8.2 5.1 -4.0 -26.4 -5.7 25.6 31

32 Miscellaneous assets -6.7 -5.4 -3.5 -0.9 -1.4 -6.6 0.1 0.5 0.4 -0.5 0.9 32

33 Net increase in liabilities 198.2 56.5 -24.7 -32.9 -272.0 -180.2 -368.5 -179.8 -359.6 101.1 -177.4 33

34 SDR certificates -0.5 -0.5 0.0 -3.0 -4.0 0.0 -8.0 -4.0 -4.0 0.0 0.0 34

35 Treasury currency 0.5 0.5 0.6 1.0 2.4 2.2 3.2 4.2 -0.0 -1.1 1.1 35

36 Credit market instruments 145.0 23.1 -52.6 -71.2 -295.9 -217.2 -408.7 -226.2 -331.3 -4.3 -216.0 36

37 Savings bonds 2.0 -0.5 0.1 -0.2 -1.7 -3.5 -2.1 -0.9 -0.3 1.4 5.3 37

38 Other Treasury securities 144.6 23.7 -54.7 -70.8 -293.2 -211.7 -408.5 -222.9 -329.9 -3.5 -222.5 38

39 Budget agency securities -1.6 -0.1 2.0 -0.2 -1.0 -2.1 1.8 -2.4 -1.2 -2.2 1.1 39

40 Multifamily residential mortgages -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Trade payables 0.7 -8.8 -8.0 0.7 1.2 3.2 -2.3 2.1 1.6 -12.3 -13.4 41

42 Insurance and pension reserves (3) 55.7 42.0 42.5 42.5 22.3 39.3 41.9 36.3 -28.1 118.1 46.9 42

43 Miscellaneous liabilities -3.3 0.3 -7.1 -2.9 2.0 -7.6 5.4 7.9 2.3 0.6 4.1 43

44 Discrepancy 56.0 15.2 22.6 -2.2 -4.8 149.7 -124.6 29.6 -74.1 240.2 -25.1 44

 Memo:

45 Change in cash balance (4) 12.9 -2.2 -12.8 59.4 -55.1 -121.2 -41.1 15.1 -73.4 18.4 -11.9 45

(1) Railroad Retirement Board and federal government life insurance reserves.

(2) Table F.9, line 2.

(3) Line 15 plus civil service retirement and disability fund, judicial retirement fund, military retirement fund, and foreign service retirement and disability fund.

(4) Time and savings deposits (line 25) plus checkable deposit and currency liabilities of the monetary authority and commercial banking sectors (table F.204, lines 3 and 7).
22 Z.1, September 18, 2001

F.107 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Foreign income from U.S. 1230.4 1370.8 1450.7 1610.2 1917.6 1819.6 1905.0 1969.1 1976.5 1916.5 1845.7 1

 2 U.S. imports 963.1 1055.8 1116.7 1240.7 1466.9 1393.6 1450.4 1511.8 1511.6 1481.2 1429.8 2

 3 U.S. income payments to rest of world 227.5 274.3 289.6 320.6 396.3 378.1 404.5 404.7 397.9 389.4 369.3 3

 4 Net transfers to rest of world 39.8 40.8 44.5 49.0 54.4 47.9 50.1 52.6 67.0 45.9 46.6 4

 5 Foreign outlays to U.S. 1119.7 1247.7 1251.1 1303.6 1487.1 1419.8 1487.6 1517.7 1523.1 1496.3 1429.7 5

 6 U.S. exports 874.2 966.4 964.9 989.8 1102.9 1059.7 1099.7 1131.1 1121.0 1117.4 1079.3 6

 7 U.S. income receipts from rest of world 245.6 281.3 286.1 313.8 384.2 360.1 387.9 386.6 402.1 378.9 350.4 7

 8 Net capital transfers (1) -0.1 -0.4 -0.7 3.5 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 8

 9 Gross saving and net capital transfers (2) 110.6 122.7 199.0 310.2 429.8 399.1 416.7 450.7 452.7 419.5 415.3 9

10 Net financial investment 172.8 272.0 145.5 373.2 444.0 235.4 626.4 458.2 455.8 323.0 499.4 10

11 Net acquisition of financial assets 556.7 649.8 474.3 783.2 940.5 980.0 940.9 886.2 954.7 852.8 664.9 11

12 Gold and SDRs (3) 0.4 -0.4 -0.1 -0.0 -0.7 -0.7 -0.7 -0.7 -0.7 -0.8 -0.6 12

13 Net interbank assets -52.0 -4.3 -27.1 -6.5 -11.5 5.9 138.4 -143.9 -46.6 -222.9 160.5 13

14 U.S. checkable deposits and currency 19.9 29.9 14.8 39.9 -8.2 -81.9 9.8 8.0 31.3 11.3 7.1 14

15 U.S. time deposits 10.9 13.1 13.0 15.0 5.7 -9.5 1.4 -6.4 37.2 -40.3 2.6 15

16 Security RPs 3.2 20.0 -18.8 14.8 5.1 -43.2 48.5 20.6 -5.6 97.1 13.5 16

17 Credit market instruments 414.4 311.3 254.2 208.8 279.3 315.2 197.9 216.2 387.8 410.8 344.0 17

18 Open market paper 14.4 19.9 37.6 -13.0 8.7 -9.4 -7.2 -14.3 65.6 -4.1 12.8 18

19 U.S. government securities 312.4 189.6 95.4 83.8 89.7 163.9 19.1 85.4 90.4 167.0 26.9 19

20 Official 120.7 -2.2 -3.6 32.5 30.7 97.2 25.3 21.1 -21.0 10.2 -85.4 20

21 Treasury 115.7 -6.7 -9.9 12.2 -10.2 64.8 -16.0 -36.0 -53.7 -4.1 -110.8 21

22 Agency 5.0 4.5 6.3 20.4 40.9 32.4 41.3 57.1 32.8 14.3 25.4 22

23 Private 191.7 191.7 99.0 51.3 59.0 66.6 -6.2 64.3 111.4 156.8 112.3 23

24 Treasury 155.0 146.4 48.6 -20.5 -52.8 -37.4 -82.2 -50.0 -41.6 2.2 -5.1 24

25 Agency 36.7 45.3 50.4 71.8 111.8 104.0 76.0 114.4 152.9 154.7 117.4 25

26 U.S. corporate bonds (4) 83.7 84.6 122.2 160.8 183.1 178.3 169.1 185.6 199.4 280.2 279.6 26

27 Loans to U.S. corporate business 3.9 17.3 -1.0 -22.7 -2.2 -17.6 16.9 -40.6 32.4 -32.2 24.6 27

28 U.S. corporate equities 11.1 67.8 42.0 112.3 193.8 266.2 136.1 214.9 158.2 164.4 137.8 28

29 Trade receivables 5.3 4.5 -7.5 -7.5 10.4 -1.6 3.9 9.1 30.2 6.4 -4.6 29

30 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Miscellaneous assets 143.5 208.0 203.8 406.4 466.6 529.5 405.5 568.5 363.0 426.8 4.6 31

32 Foreign direct investment in U.S. (5) 86.5 105.6 178.2 301.0 287.7 146.0 361.6 304.2 338.8 209.9 268.7 32

33 Other 57.0 102.4 25.6 105.4 179.0 383.5 43.9 264.3 24.2 217.0 -264.1 33

34 Net increase in liabilities 383.9 377.8 328.8 410.0 496.5 744.6 314.5 428.0 498.9 529.9 165.5 34

 U.S. official foreign exchange

35 and net IMF position -6.3 0.7 6.6 -8.7 -0.4 1.5 -8.8 0.7 4.9 -1.5 4.7 35

36 U.S. private deposits 85.9 107.7 6.5 61.0 120.8 313.3 3.4 -40.8 207.4 235.5 -146.5 36

37 Credit market instruments 88.4 71.8 43.4 27.9 96.0 117.4 50.6 108.7 107.4 9.3 4.2 37

38 Commercial paper 11.3 3.7 7.8 16.3 31.7 57.8 12.0 7.0 50.1 -25.4 -5.6 38

39 Bonds 67.0 61.4 34.9 16.8 54.3 44.7 31.2 91.5 49.6 33.3 36.0 39

40 Bank loans n.e.c. 9.1 8.5 6.7 0.5 11.3 15.4 5.7 11.9 12.2 13.0 -26.9 40

41 Official 0.3 -0.8 0.8 0.2 0.5 -0.8 1.4 1.8 -0.3 0.4 -1.2 41

42 Banks 3.4 -0.5 -0.7 -3.1 3.2 5.7 2.6 2.2 2.5 12.1 -28.3 42

43 Other 5.4 9.8 6.7 3.5 7.5 10.6 1.7 7.9 9.9 0.5 2.6 43

44 U.S. government loans -0.7 -1.6 -1.0 -4.8 -0.6 0.3 0.4 -2.2 -0.8 -1.8 1.0 44

45 Acceptance liabilities to banks 1.8 -0.2 -5.0 -0.9 -0.7 -0.8 1.2 0.5 -3.7 -9.9 -0.3 45

46 Foreign corporate equities (6) 82.8 57.6 101.3 114.4 99.7 62.6 185.9 61.1 89.4 109.2 208.8 46

47 Trade payables -1.7 5.1 -2.4 4.3 1.6 -2.4 12.1 -12.7 9.2 -5.8 11.5 47

48 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

49 Miscellaneous liabilities 134.8 134.9 173.5 211.1 178.8 252.2 71.3 311.1 80.6 183.1 82.7 49

50 U.S. equity in IBRD, etc. 1.8 1.6 1.6 1.5 1.5 1.4 1.6 1.3 1.6 2.1 2.0 50

51 U.S. government deposits -0.1 -0.0 -0.1 0.6 0.0 -1.2 0.2 0.4 0.6 -0.4 0.0 51

52 U.S. direct investment abroad (4,5) 91.9 104.8 142.5 155.4 152.4 153.6 133.4 166.5 156.3 163.8 142.4 52

53 Other 41.1 28.6 29.5 53.6 24.8 98.5 -64.0 142.8 -78.0 17.7 -61.8 53

54 Discrepancy (FOF basis) (7) -62.2 -149.4 53.5 -63.0 -14.2 163.7 -209.7 -7.5 -3.2 96.5 -84.2 54

 Memo:

55 Net U.S. exports, NIPA basis -89.0 -89.4 -151.7 -250.9 -364.0 -333.9 -350.7 -380.7 -390.6 -363.8 -350.5 55

56 + Net U.S. income receipts (8) 18.1 7.1 -3.5 -6.8 -12.1 -18.0 -16.6 -18.1 4.2 -10.5 -18.9 56

57 - Net transfer payments to foreign 39.8 40.8 44.5 49.0 54.4 47.9 50.1 52.6 67.0 45.9 46.6 57

 = Net foreign investment in U.S.

58 (NIPA basis) -110.7 -123.1 -199.7 -306.7 -430.5 -399.8 -417.4 -451.4 -453.4 -420.2 -416.0 58

(1) Table F.9, line 10.

(2) Line 1 minus line 5 plus line 8; also equal to line 58 with the sign reversed plus line 8.

(3) U.S. net sales, sign reversed.

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

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Balance of payments discrepancy adjusted to NIPA concepts.

(8) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
Z.1, September 18, 2001 23

F.108 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 1.7 2.7 -2.1 0.2 4.5 4.4 4.5 4.6 4.7 4.4 4.4 1

 2 Fixed nonresidential investment 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 2

 3 Net acquisition of financial assets 23.3 38.8 32.8 130.0 -60.9 -299.3 18.5 19.2 17.9 33.3 53.5 3

 4 Gold and foreign exchange -3.8 -1.5 0.8 -1.6 0.9 0.3 0.2 2.9 0.3 0.4 0.3 4

 5 SDR certificates -0.5 -0.5 0.0 -3.0 -4.0 0.0 -8.0 -4.0 -4.0 0.0 0.0 5

 6 Treasury currency 1.0 0.6 0.7 1.7 3.6 4.0 3.9 3.3 3.3 2.5 1.4 6

 7 Federal Reserve float 4.2 -3.6 0.9 -1.9 1.1 0.1 0.8 1.5 2.1 -2.9 -2.2 7

 8 Fed. Res. loans to domestic banks -0.1 2.0 -2.0 0.2 -0.1 0.0 1.1 -0.6 -1.0 -0.4 0.5 8

 9 Security RPs 7.7 2.3 6.5 110.3 -97.3 -402.8 26.9 -27.6 14.5 -15.1 24.2 9

10 Credit market instruments 12.3 38.3 21.1 25.7 33.7 102.0 -5.4 39.1 -0.9 53.7 26.4 10

11 Acceptances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 U.S. government securities 12.3 38.3 21.1 25.7 33.7 102.0 -5.4 39.1 -0.9 53.7 26.4 12

13 Treasury 12.7 39.8 21.4 25.8 33.7 102.1 -5.4 39.2 -0.9 54.2 26.4 13

14 Agency -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 -0.0 -0.0 0.0 -0.5 0.0 14

15 Bank loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Miscellaneous assets 2.4 1.3 4.9 -1.3 1.1 -2.8 -1.0 4.5 3.6 -4.9 2.8 16

17 Net increase in liabilities 22.8 38.1 32.1 129.6 -61.3 -305.6 34.2 20.1 6.2 34.3 50.5 17

18 Depository institution reserves -5.1 6.3 -4.5 -2.3 -5.0 -5.1 0.4 -4.6 -10.7 14.7 1.5 18

19 Vault cash of commercial banks 4.6 -0.2 -2.9 24.5 -22.2 -99.1 5.7 -10.9 15.7 -7.6 3.7 19

20 Checkable deposits and currency 23.3 29.9 38.3 108.7 -35.3 -187.8 27.5 23.3 -4.1 48.8 50.0 20

21 Due to federal government 1.7 -2.3 0.5 22.3 -22.9 -91.0 -19.5 30.4 -11.5 5.9 -17.7 21

22 Due to rest of the world -0.2 0.3 -0.3 -0.1 0.1 0.2 -0.1 0.1 0.3 -0.6 0.1 22

23 Currency outside banks 21.8 31.9 38.0 86.4 -12.5 -97.0 47.1 -7.2 7.1 43.5 67.6 23

24 Miscellaneous liabilities -0.1 2.1 1.3 -1.3 1.1 -13.5 0.5 12.3 5.3 -21.6 -4.7 24

25 Federal Reserve Bank stock 0.6 0.8 0.5 0.5 0.6 1.2 0.5 0.3 0.3 0.1 0.5 25

26 Other -0.7 1.3 0.8 -1.8 0.6 -14.8 -0.0 12.0 5.0 -21.8 -5.2 26

27 Discrepancy 0.8 1.7 -3.1 -0.7 3.8 -2.2 19.8 5.0 -7.5 4.9 1.0 27

(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.
24 Z.1, September 18, 2001

F.109 Commercial Banking (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 28.5 35.5 29.9 47.3 50.4 52.4 51.2 47.8 50.5 48.2 57.9 1

 2 Fixed nonresidential investment 22.5 26.2 30.0 25.2 27.8 26.9 27.7 28.2 28.3 28.0 27.8 2

 3 Net acquisition of financial assets 216.6 457.3 443.7 352.5 487.8 356.1 707.5 566.3 321.2 114.7 381.3 3

 4 Vault cash 4.6 -0.2 -2.9 24.5 -22.2 -99.1 5.7 -10.9 15.7 -7.6 3.7 4

 5 Reserves at Federal Reserve -4.6 6.8 -4.6 -2.4 -4.0 -3.3 0.4 -2.8 -10.1 14.7 1.5 5

 6 Checkable deposits and currency -0.2 -0.1 0.6 0.3 -0.5 -1.3 0.6 -2.6 1.2 0.6 -0.6 6

 7 Total bank credit 189.9 350.0 335.8 295.5 412.3 503.9 514.3 396.0 235.0 238.6 73.0 7

 8 U.S. government securities 11.3 83.8 35.4 48.4 -21.9 -15.7 -21.3 -7.2 -43.4 -103.5 -25.4 8

 9 Treasury -16.9 8.3 -56.1 12.7 -44.5 -86.3 -35.1 22.9 -79.6 -82.8 47.6 9

10 Agency 28.2 75.5 91.4 35.7 22.6 70.6 13.8 -30.1 36.2 -20.7 -73.0 10

11 Municipal securities 0.9 2.4 8.2 5.8 3.4 7.6 3.1 1.6 1.1 -2.6 15.4 11

12 Corporate and foreign bonds 1.4 27.8 38.0 38.8 57.6 -22.9 19.3 138.0 96.0 52.1 142.3 12

13 Total loans 174.2 234.7 253.4 200.1 370.4 529.0 512.4 262.6 177.6 280.5 -56.5 13

14 Open market paper 0.8 -0.8 -0.2 0.3 0.1 0.4 -0.4 -0.1 0.7 0.1 0.0 14

15 Bank loans n.e.c. 92.1 128.2 145.0 68.9 114.1 158.0 179.2 52.2 67.1 34.1 -156.5 15

16 Mortgages 55.2 99.9 91.7 158.2 164.1 247.0 261.1 127.6 20.7 158.8 132.2 16

17 Consumer credit 24.8 -14.2 -3.6 -9.2 41.7 39.5 55.7 53.9 17.8 13.7 54.4 17

18 Security credit 1.3 21.7 20.5 -18.1 50.4 84.2 16.8 29.1 71.4 73.8 -86.7 18

19 Corporate equities 1.8 0.6 1.3 1.2 0.3 0.8 0.9 1.3 -1.8 -1.5 -0.5 19

20 Mutual fund shares 0.3 0.8 -0.4 1.2 2.5 5.1 -0.1 -0.3 5.4 13.6 -2.1 20

21 Customers’ liab. on acceptances (2) 1.0 -2.8 -9.3 -3.1 -0.7 2.0 0.7 -2.7 -2.9 0.0 -4.0 21

22 Miscellaneous assets 25.9 103.5 124.1 37.8 102.9 -46.1 185.7 189.4 82.5 -131.7 307.6 22

23 Net increase in liabilities 203.7 490.5 469.1 289.7 527.7 461.3 860.8 515.1 273.6 229.0 528.6 23

24 Net interbank liabilities -51.2 -25.8 -24.8 -4.6 6.9 31.3 145.7 -155.0 5.6 -209.5 171.7 24

25 To monetary authority 4.1 -1.6 -1.1 -1.7 1.0 0.1 1.9 1.0 1.1 -3.2 -1.7 25

26 To domestic banks (3) -3.3 -19.9 3.4 3.5 17.4 25.3 5.4 -12.1 51.1 16.7 12.9 26

27 To foreign banks -52.0 -4.3 -27.1 -6.5 -11.5 5.9 138.4 -143.9 -46.6 -222.9 160.5 27

28 Checkable deposits -34.6 -19.8 -33.4 3.2 -85.2 -87.9 -100.7 -60.8 -91.4 -25.5 1.8 28

29 Federal government 9.7 -0.9 -14.6 36.4 -33.2 -30.5 -22.6 -17.3 -62.3 4.3 -0.1 29

30 Rest of the world 2.8 4.8 -1.5 13.4 -9.5 -54.7 5.9 4.8 6.0 2.7 -4.1 30

31 Private domestic -47.1 -23.7 -17.3 -46.6 -42.6 -2.7 -84.1 -48.3 -35.2 -32.4 6.0 31

32 Small time and savings deposits 123.1 148.3 183.7 71.3 213.3 145.6 159.7 213.0 334.8 222.2 196.6 32

33 Large time deposits 105.3 107.9 72.3 119.0 94.9 128.8 86.5 122.6 41.8 87.8 34.9 33

34 Federal funds and security RPs (net) 41.0 89.0 87.0 110.6 63.6 133.1 198.9 59.2 -137.0 74.3 -58.2 34

35 Credit market instruments 13.0 46.1 72.9 67.2 60.0 78.3 99.3 43.4 18.8 148.3 -15.6 35

36 Open market paper 2.9 3.3 -1.5 6.1 0.6 -13.4 7.3 4.5 3.8 29.8 -7.4 36

37 Corporate bonds 7.8 23.7 27.6 20.4 32.6 33.1 38.1 32.7 26.5 79.5 9.1 37

38 Other loans and advances 2.3 19.1 46.9 40.6 26.8 58.6 53.9 6.2 -11.4 39.0 -17.4 38

39 Corporate equity issues -14.3 -27.7 -11.2 -10.6 -12.5 -26.1 -16.0 -2.8 -5.2 -8.1 -7.9 39

40 Taxes payable 1.2 1.4 1.7 1.9 2.1 2.1 2.1 2.2 2.2 2.3 2.4 40

41 Miscellaneous liabilities 20.1 171.2 120.9 -68.3 184.7 56.0 285.3 293.3 104.1 -62.8 203.0 41

42 Discrepancy -6.9 42.4 25.3 -40.8 62.6 130.6 176.8 -31.7 -25.4 134.5 177.4 42

 Memo:

43 Credit market funds advanced (4) 187.5 324.3 305.2 308.2 358.4 415.8 497.4 363.2 157.0 152.8 158.4 43

(1) U.S.-chartered commercial banks, foreign banking offices in U.S., bank holding companies, and banks in U.S.-affiliated areas. IBFs are excluded from domestic banking and treated the

 same as branches in foreign countries.

(2) Included in other loans and advances (table F.216).

(3) Floats and discrepancies in interbank transactions.

(4) Total bank credit (line 7) less security credit (line 18) less corporate equities (line 19) less mutual fund shares (line 20) plus customers’ liability on acceptances (line 21).
Z.1, September 18, 2001 25

F.110 U.S.-Chartered Commercial Banks

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving -11.6 -7.5 -11.1 -10.4 -4.5 -6.9 -4.3 -2.7 -3.9 -18.4 -3.5 1

 2 Fixed nonresidential investment 18.3 21.1 23.8 19.6 21.6 20.9 21.5 21.9 21.9 21.8 21.6 2

 3 Net acquisition of financial assets 122.8 290.8 328.1 344.1 329.2 355.5 520.1 344.0 97.4 112.7 177.9 3

 4 Vault cash and reserves at Federal Reserve -0.3 4.8 -5.7 21.6 -25.2 -98.5 5.5 -13.0 5.3 6.8 5.6 4

 5 Total bank credit 115.2 280.7 329.3 313.7 350.5 488.1 486.6 316.1 111.1 149.6 185.8 5

 6 U.S. government securities -19.4 54.3 39.6 27.4 -16.7 43.2 1.6 -46.5 -65.2 -135.3 26.3 6

 7 Treasury -34.7 -6.1 -42.1 -1.9 -35.0 -32.2 -13.7 -6.5 -87.6 -104.4 13.8 7

 8 Agency 15.3 60.4 81.6 29.3 18.2 75.3 15.3 -40.0 22.4 -30.9 12.5 8

 9 Mortgage pool securities 21.4 31.1 53.7 -17.8 14.2 24.7 0.5 -25.8 57.3 41.5 61.4 9

10 Agency-issued CMOs -11.5 17.5 8.9 4.9 -9.8 -1.5 -4.6 -41.8 8.6 15.0 6.8 10

11 Other agency securities 5.4 11.8 19.1 42.2 13.8 52.2 19.3 27.5 -43.6 -87.4 -55.7 11

12 Municipal securities 1.0 2.4 8.2 5.8 3.2 7.1 3.2 1.5 1.1 -1.2 15.4 12

13 Corporate and foreign bonds -4.5 19.6 32.4 43.3 52.4 -21.4 25.9 132.4 72.8 63.0 49.7 13

14 Private mortgage pool securities -0.4 -1.2 0.9 0.9 -0.7 -5.3 -4.2 3.9 2.6 15.2 2.9 14

15 Privately issued CMOs -3.1 0.7 20.3 5.7 8.0 -9.5 3.7 16.1 21.8 4.1 26.0 15

16 Other bonds -1.0 20.2 11.1 36.7 45.2 -6.6 26.4 112.4 48.4 43.7 20.8 16

17 Total loans 136.0 203.0 248.2 234.9 308.7 453.2 455.2 227.6 98.8 211.0 97.1 17

18 Open market paper 0.3 -0.6 -0.1 -0.1 0.2 -0.1 -0.4 0.3 1.2 0.0 0.0 18

19 Bank loans n.e.c. 58.2 108.1 144.3 92.2 98.2 135.5 168.8 59.3 29.2 11.1 -92.8 19

20 Mortgages 57.5 105.5 95.8 160.6 161.5 242.6 255.3 125.8 22.2 156.2 129.3 20

21 Consumer credit 24.8 -14.2 -3.6 -9.2 41.7 39.5 55.7 53.9 17.8 13.7 54.4 21

22 Security credit -4.8 4.2 11.9 -8.7 7.1 35.8 -24.2 -11.6 28.5 30.0 6.2 22

23 Corporate equities 1.8 0.6 1.3 1.2 0.3 0.8 0.9 1.3 -1.8 -1.5 -0.5 23

24 Mutual fund shares 0.3 0.8 -0.4 1.2 2.5 5.1 -0.1 -0.3 5.4 13.6 -2.1 24

25 Customers’ liab. on acceptances (1) 1.6 -0.2 -4.6 -2.5 -0.7 1.8 0.8 -1.9 -3.7 0.4 -2.5 25

26 Miscellaneous assets 6.2 5.5 9.1 11.3 4.7 -35.9 27.1 42.8 -15.3 -44.1 -10.9 26

27 Net increase in liabilities 142.6 359.0 385.2 327.8 412.6 508.7 717.3 331.7 92.8 282.0 373.8 27

28 Net interbank liabilities -55.7 4.2 20.4 32.6 18.3 31.2 172.5 -32.7 -97.6 69.8 149.4 28

29 Federal Reserve float 4.2 -3.6 0.9 -1.9 1.1 0.1 0.8 1.5 2.1 -2.9 -2.2 29

30 Borrowing from Federal Reserve banks -0.1 2.0 -2.0 0.2 -0.1 0.0 1.1 -0.6 -1.0 -0.4 0.5 30

31 To domestic banking -23.5 -6.7 -2.6 -12.1 -12.5 -11.6 1.9 18.8 -59.2 82.2 117.4 31

32 To foreign banks -36.3 12.6 24.0 46.3 29.8 42.7 168.6 -52.5 -39.5 -9.2 33.7 32

33 Checkable deposits -34.4 -21.1 -34.4 2.8 -84.8 -83.3 -105.0 -55.5 -95.5 -23.3 -0.7 33

34 Federal government 9.7 -0.9 -14.6 36.4 -33.2 -30.5 -22.6 -17.3 -62.3 4.3 -0.1 34

35 Rest of the world 3.5 4.4 -1.2 12.8 -9.2 -52.8 3.6 8.8 3.6 3.6 6.3 35

36 Private domestic -47.5 -24.6 -18.6 -46.4 -42.4 -0.0 -86.0 -47.0 -36.8 -31.1 -7.0 36

37 Small time and savings deposits 122.8 143.9 186.3 72.4 210.4 146.6 155.3 215.5 324.3 228.0 168.9 37

38 Large time deposits 49.5 63.2 34.8 61.5 87.9 91.7 141.6 73.7 44.6 17.7 25.6 38

39 Federal funds and security RPs (net) 28.7 63.4 66.8 128.7 12.8 124.6 137.8 -33.2 -178.1 45.1 59.6 39

40 Acceptance liabilities 1.7 -0.3 -4.6 -2.5 -0.6 1.7 0.9 -1.8 -3.3 0.1 -2.2 40

41 Corporate bonds 7.7 10.7 10.5 3.7 10.6 9.9 13.1 9.2 10.1 13.9 -3.7 41

42 Other loans and advances 2.3 19.1 46.9 40.6 26.8 58.6 53.9 6.2 -11.4 39.0 -17.4 42

43 Corporate equity issues 3.2 3.2 3.8 3.2 4.0 2.2 2.1 3.9 7.9 3.3 5.4 43

44 Taxes payable 1.2 1.4 1.7 1.9 2.1 2.1 2.1 2.2 2.2 2.3 2.4 44

45 Miscellaneous liabilities 15.6 71.2 53.0 -17.1 125.0 123.4 143.0 144.2 89.5 -113.9 -13.4 45

46 Investment by bank holding companies 28.6 40.7 55.3 2.9 53.6 80.8 35.9 54.9 42.7 65.5 103.8 46

47 Other -13.0 30.5 -2.4 -20.0 71.4 42.6 107.0 89.3 46.8 -179.5 -117.2 47

48 Discrepancy -10.1 39.6 22.1 -46.4 57.3 125.5 171.4 -37.0 -30.5 129.2 170.9 48

 Memo:

49 Credit market funds advanced (2) 119.6 274.9 312.0 317.6 339.8 448.2 510.9 324.8 75.3 107.9 179.7 49

(1) Included in other loans and advances (table F.216).

(2) Total bank credit (line 5) less security credit (line 22) less corporate equities (line 23) less mutual fund shares (line 24) plus customers’ liability on acceptances (line 25).
26 Z.1, September 18, 2001

F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 4.9 5.7 6.6 7.6 8.2 8.0 8.1 8.3 8.5 8.6 8.9 1

 2 Fixed nonresidential investment 3.6 4.6 5.7 5.1 5.6 5.5 5.6 5.7 5.7 5.7 5.6 2

 3 Net acquisition of financial assets 48.5 96.5 -4.8 -50.4 29.8 -150.3 109.3 60.2 100.1 -119.9 62.1 3

 4 Reserves at Federal Reserve 0.3 1.8 -1.9 0.4 -1.0 -3.9 0.6 -0.7 0.2 0.3 -0.3 4

 5 Total bank credit 70.0 60.2 1.4 -28.9 67.3 52.7 18.9 74.3 123.3 85.4 -114.2 5

 6 U.S. government securities 30.9 26.8 -5.5 11.8 0.0 -24.7 -25.4 32.1 18.2 37.9 -50.9 6

 7 Treasury 18.4 14.4 -10.3 7.5 -0.6 -21.5 -21.5 29.9 10.7 24.5 33.6 7

 8 Agency 12.4 12.5 4.8 4.3 0.6 -3.1 -4.0 2.2 7.5 13.4 -84.5 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Corporate and foreign bonds 3.2 3.1 5.8 -5.2 7.6 4.4 -0.0 2.5 23.6 -14.7 95.7 10

11 Total loans 36.0 30.3 1.1 -35.5 59.7 73.0 44.3 39.7 81.6 62.2 -159.0 11

12 Open market paper 0.5 -0.2 -0.1 0.4 -0.1 0.5 0.1 -0.4 -0.5 0.1 0.0 12

13 Bank loans n.e.c. 32.2 19.2 -1.9 -22.3 15.8 21.6 1.0 0.3 40.1 18.2 -64.7 13

14 Mortgages -2.9 -6.1 -5.5 -4.2 0.7 2.5 2.2 -0.9 -0.9 0.1 -1.4 14

15 Security credit 6.2 17.5 8.6 -9.4 43.2 48.4 41.0 40.7 42.9 43.8 -93.0 15

16 Corporate equities -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Customers’ liab. on acceptances (2) -0.6 -2.5 -4.7 -0.6 -0.0 0.2 -0.2 -0.8 0.7 -0.4 -1.5 17

18 Miscellaneous assets -21.2 37.0 0.4 -21.3 -36.5 -199.2 90.0 -12.7 -24.1 -205.2 178.2 18

19 Net increase in liabilities 50.6 98.9 -2.0 -47.2 33.4 -146.9 112.8 63.8 103.8 -116.0 66.1 19

20 Net interbank liabilities -2.5 -30.4 -55.4 -41.2 -41.6 -125.2 -23.9 -96.3 79.1 -163.9 70.0 20

21 To foreign banks -11.5 -17.6 -51.7 -48.6 -58.5 -118.8 -22.3 -79.4 -13.7 -132.0 -11.8 21

22 To domestic banks 9.0 -12.7 -3.7 7.4 17.0 -6.4 -1.6 -16.9 92.8 -31.9 81.8 22

23 Checkable deposits -0.7 0.8 -0.2 0.4 -0.3 -3.2 4.2 -5.0 2.8 -2.1 1.1 23

24 Small time and savings deposits 0.1 4.4 -3.6 -1.9 1.4 -1.3 1.8 -4.7 10.0 -5.2 23.2 24

25 Large time deposits 55.6 44.7 36.5 56.7 5.6 36.7 -57.6 46.6 -3.4 70.6 4.9 25

26 Federal funds and security RPs (net) 12.0 25.6 19.7 -18.3 52.4 7.6 59.3 92.8 49.8 22.1 -118.3 26

27 Acceptance liabilities -0.7 -2.4 -4.8 -0.4 -0.0 -0.2 -0.3 -0.4 0.7 -0.8 -2.4 27

28 Miscellaneous liabilities -13.3 56.2 5.7 -42.5 15.9 -61.3 129.2 30.8 -35.3 -36.8 87.4 28

29 Foreign direct investment in U.S. -0.1 7.7 5.5 19.1 9.6 20.4 1.9 3.3 12.7 1.2 15.6 29

30 Due to affiliates 13.7 14.3 11.8 2.5 45.6 86.1 -0.1 21.5 75.0 14.6 -20.2 30

31 Other -26.9 34.2 -11.5 -64.1 -39.4 -167.8 127.3 6.0 -123.0 -52.6 92.1 31

32 Discrepancy 3.4 3.5 3.7 5.6 6.1 5.9 6.0 6.2 6.4 6.8 7.2 32

 Memo:

33 Credit market funds advanced (3) 63.3 40.2 -11.9 -20.1 24.0 4.5 -22.3 32.8 81.1 41.3 -22.7 33

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank.

(2) Included in other loans and advances (table F.216).

(3) Total bank credit (line 5) less security credit (line 15) less corporate equities (line 16) plus customers’ liability on acceptances (line 17).
Z.1, September 18, 2001 27

F.112 Bank Holding Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 35.0 37.2 34.2 49.9 46.5 51.1 47.2 42.0 45.7 57.8 52.2 1

 2 Fixed nonresidential investment 0.3 0.3 0.3 0.3 0.4 0.3 0.4 0.4 0.4 0.4 0.4 2

 3 Net acquisition of financial assets 44.0 64.5 110.6 55.1 124.6 148.2 70.4 150.8 129.2 123.0 134.8 3

 4 Credit market instruments 3.9 5.4 -0.9 6.2 -12.2 -42.2 3.5 -6.7 -3.2 7.3 -2.8 4

 5 U.S. government securities 0.9 0.5 -1.9 6.6 -8.5 -33.8 1.5 0.6 -2.1 2.1 -0.7 5

 6 Treasury 0.6 -0.1 -3.1 7.9 -7.9 -31.4 0.6 0.1 -1.1 -0.3 0.7 6

 7 Agency 0.3 0.6 1.1 -1.3 -0.5 -2.4 0.9 0.4 -1.1 2.4 -1.4 7

 8 Corporate and foreign bonds 2.8 5.0 -0.7 1.2 -2.8 -5.5 -6.6 1.7 -0.6 0.8 -1.8 8

 9 Bank loans n.e.c. 0.2 -0.0 1.7 -1.6 -0.9 -2.9 8.6 -9.0 -0.5 4.3 -0.2 9

10 Miscellaneous assets 40.1 59.0 111.6 48.9 136.8 190.4 67.0 157.5 132.4 115.7 137.6 10

11 Investment in bank subsidiaries 28.6 40.7 55.3 2.9 53.6 80.8 35.9 54.9 42.7 65.5 103.8 11

12 Investment in nonbank subsidiaries 0.3 25.0 44.1 17.2 62.3 132.8 2.2 56.0 58.3 55.3 19.2 12

13 Other 11.3 -6.7 12.1 28.9 20.9 -23.2 28.8 46.6 31.4 -5.2 14.5 13

14 Net increase in liabilities 9.2 27.4 76.6 5.3 78.3 97.3 23.4 108.9 83.6 65.3 82.7 14

15 Net interbank liabilities 7.0 0.3 10.2 4.0 30.1 125.3 -2.9 -26.0 24.1 -115.4 -47.7 15

16 To domestic banks 11.2 -0.4 9.6 8.2 12.9 43.3 5.0 -14.1 17.5 -33.6 -186.3 16

17 To foreign banks -4.1 0.8 0.6 -4.3 17.2 82.0 -7.9 -12.0 6.6 -81.8 138.7 17

18 Federal funds and security RPs (net) 0.4 0.0 0.5 0.1 -1.6 0.8 1.8 -0.4 -8.7 7.0 0.5 18

19 Credit market instruments 2.0 19.0 24.9 25.8 23.2 8.3 31.7 30.3 22.7 96.1 10.1 19

20 Commercial paper 1.9 6.0 7.8 9.1 1.2 -14.9 6.7 6.8 6.3 30.5 -2.8 20

21 Corporate bonds 0.1 13.0 17.1 16.7 22.0 23.2 25.0 23.5 16.3 65.6 12.8 21

22 Corporate equity issues -17.5 -30.9 -15.0 -13.8 -16.5 -28.3 -18.1 -6.7 -13.1 -11.4 -13.3 22

23 Miscellaneous liabilities 17.3 39.0 56.0 -10.8 43.1 -8.9 10.9 111.8 58.7 88.9 133.2 23

24 Equity, etc. -11.9 -13.1 24.7 -38.6 10.3 -0.4 -19.9 27.7 33.7 35.1 41.5 24

25 Other 29.2 52.1 31.2 27.8 32.8 -8.5 30.7 84.1 25.0 53.8 91.6 25

26 Discrepancy -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.3 -0.3 -0.3 -0.2 26

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.2 0.2 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 Net acquisition of financial assets 1.3 5.5 9.8 3.7 4.0 2.7 7.6 11.4 -5.5 -1.1 6.5 3

 4 Checkable deposits and currency -0.2 -0.1 0.6 0.3 -0.5 -1.3 0.6 -2.6 1.2 0.6 -0.6 4

 5 Credit market instruments 0.7 3.7 6.0 4.4 6.7 5.4 5.4 12.3 3.8 -3.6 4.2 5

 6 U.S. government securities -1.0 2.1 3.2 2.6 3.3 -0.4 1.1 6.7 5.7 -8.3 -0.2 6

 7 Treasury -1.3 0.1 -0.7 -0.7 -1.0 -1.2 -0.5 -0.6 -1.7 -2.6 -0.5 7

 8 Agency 0.2 2.0 3.9 3.3 4.3 0.8 1.6 7.3 7.4 -5.7 0.3 8

 9 Municipal securities -0.1 -0.0 -0.1 0.1 0.1 0.5 -0.0 0.0 0.1 -1.4 -0.0 9

10 Corporate and foreign bonds -0.1 0.1 0.5 -0.5 0.3 -0.4 0.0 1.3 0.3 3.0 -1.2 10

11 Bank loans n.e.c. 1.4 0.9 0.9 0.5 1.1 3.8 0.8 1.6 -1.7 0.5 1.3 11

12 Home mortgages 0.6 0.1 1.1 0.6 1.0 1.4 2.2 1.5 -1.0 -8.1 1.8 12

13 Commercial mortgages -0.1 0.5 0.4 1.2 0.8 0.4 1.3 1.1 0.4 10.6 2.5 13

14 Miscellaneous assets 0.8 1.8 3.1 -1.0 -2.1 -1.4 1.6 1.7 -10.5 1.9 2.9 14

15 Net increase in liabilities 1.4 5.1 9.4 3.8 3.4 2.2 7.2 10.8 -6.6 -2.3 6.0 15

16 Checkable deposits 0.5 0.4 1.2 0.0 -0.1 -1.4 0.0 -0.3 1.2 -0.1 1.4 16

17 Small time and savings deposits 0.2 -0.0 1.0 0.8 1.4 0.4 2.5 2.3 0.5 -0.6 4.4 17

18 Large time deposits 0.2 -0.0 1.0 0.8 1.4 0.4 2.5 2.3 0.5 -0.6 4.4 18

19 Miscellaneous liabilities 0.6 4.7 6.3 2.2 0.7 2.8 2.3 6.5 -8.8 -1.0 -4.3 19

20 Discrepancy 0.0 -0.4 -0.4 0.1 -0.6 -0.5 -0.4 -0.6 -1.1 -1.2 -0.5 20

(1) Commercial banks and branches of U.S.-chartered commercial banks located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.
28 Z.1, September 18, 2001

F.114 Savings Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 0.5 2.9 4.2 7.2 9.0 8.7 9.2 9.1 9.2 9.3 9.5 1

 2 Fixed nonresidential investment 3.5 3.8 4.1 3.4 3.7 3.6 3.7 3.8 3.8 3.8 3.7 2

 3 Net acquisition of financial assets 16.1 -8.4 60.8 63.0 67.2 42.9 82.6 82.4 60.9 156.7 72.2 3

 4 Reserves at Federal Reserve -0.5 -0.5 0.1 0.1 -1.0 -1.8 0.1 -1.9 -0.5 0.0 0.0 4

 5 Checkable deposits and currency -1.3 1.0 3.2 1.7 -0.4 -15.3 4.7 -0.1 9.0 -0.2 8.2 5

 6 Time and savings deposits 0.3 -0.4 0.5 -0.1 0.1 2.4 -2.4 -0.8 1.2 1.2 2.6 6

 7 Federal funds and security RPs -1.2 -0.8 5.5 -4.2 4.3 3.7 2.0 10.7 0.7 27.1 1.3 7

 8 Credit market instruments 19.9 -4.7 36.1 68.6 56.5 55.6 65.0 62.7 42.5 52.5 56.2 8

 9 Open market paper 0.1 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 U.S. government securities -9.5 -3.6 -16.1 3.7 -8.1 -21.0 -12.4 -2.8 3.9 16.5 18.9 10

11 Treasury -1.0 -2.8 -4.4 -0.0 -1.4 -0.8 -3.3 -1.4 -0.2 -3.0 -2.1 11

12 Agency -8.5 -0.8 -11.7 3.7 -6.7 -20.2 -9.1 -1.5 4.1 19.4 21.0 12

13 Municipal securities 0.1 0.0 0.4 0.5 0.2 0.3 -0.2 -0.0 0.6 2.9 0.3 13

14 Corporate and foreign bonds -9.9 -9.9 29.9 23.3 -2.5 15.0 -20.5 -13.2 8.7 -54.0 -11.5 14

15 Other loans and advances 3.0 3.1 5.3 6.5 8.7 11.2 7.8 10.1 5.7 8.2 9.6 15

16 Mortgages 31.6 3.5 12.1 24.7 55.2 60.3 82.4 62.4 15.5 75.2 39.5 16

17 Consumer credit 4.6 2.5 4.4 9.9 3.0 -10.2 7.9 6.3 8.1 3.8 -0.7 17

18 Corporate equities 0.6 0.2 1.5 -0.7 0.4 1.5 -1.3 1.5 0.1 4.7 3.0 18

19 Miscellaneous assets -1.8 -3.2 13.8 -2.5 7.4 -3.1 14.5 10.3 8.0 71.3 0.9 19

20 Net increase in liabilities 15.4 -9.5 57.6 61.8 66.3 41.0 82.4 79.0 62.7 152.7 71.2 20

21 Deposits -6.5 -25.7 -2.6 6.8 27.5 25.1 16.8 54.0 14.3 98.7 31.8 21

22 Checkable 25.4 27.1 36.1 37.2 43.1 45.2 42.8 40.6 43.9 51.1 53.2 22

23 Small time and savings -38.1 -64.4 -54.3 -38.9 -35.5 -47.4 -35.1 -19.0 -40.7 6.7 -37.5 23

24 Large time 6.3 11.7 15.7 8.5 19.9 27.3 9.0 32.3 11.0 40.9 16.1 24

25 Security RPs -0.9 -1.9 9.5 21.4 -6.1 3.2 6.0 24.6 -58.1 1.8 9.9 25

26 Credit market instruments 25.5 19.7 52.2 48.0 27.3 57.5 69.0 -37.9 20.4 62.5 16.2 26

27 Corporate bonds -0.4 0.1 -0.2 0.2 3.5 -0.0 0.0 2.6 11.5 -14.0 14.5 27

28 Bank loans n.e.c. 1.4 3.5 10.3 -15.7 7.4 25.4 3.5 -1.9 2.7 4.6 -3.7 28

29 Other loans and advances 24.5 16.2 42.1 63.5 16.3 32.1 65.5 -38.6 6.3 71.9 5.4 29

30 Taxes payable -0.1 0.4 0.2 0.0 0.4 -1.4 0.3 1.5 1.3 -0.7 -0.9 30

31 Miscellaneous liabilities -2.5 -2.1 -1.6 -14.4 17.1 -43.5 -9.6 36.8 84.8 -9.5 14.2 31

32 Investment by parent 0.2 0.3 0.4 0.5 0.7 0.6 0.6 0.7 0.7 0.7 0.8 32

33 Other -2.7 -2.4 -2.1 -15.0 16.5 -44.1 -10.2 36.1 84.1 -10.3 13.5 33

34 Discrepancy -3.6 -1.9 -3.0 2.6 4.4 3.1 5.3 1.9 7.2 1.6 4.8 34

(1) Savings and loan associations, mutual savings banks, and federal savings banks.
Z.1, September 18, 2001 29

F.115 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 6.3 5.2 5.4 5.9 6.8 6.4 6.7 6.9 7.1 6.5 6.6 1

 2 Fixed nonresidential investment 1.8 2.2 2.6 2.3 2.5 2.4 2.5 2.5 2.5 2.5 2.5 2

 3 Net acquisition of financial assets 19.5 23.7 37.7 23.0 26.5 28.3 7.5 40.9 29.5 61.8 53.5 3

 4 Checkable deposits and currency 0.1 0.6 1.0 17.3 -14.2 1.1 0.9 -28.7 -30.2 12.7 25.5 4

 5 Time and savings deposits -0.7 0.6 6.4 -6.8 0.5 2.6 -8.7 -0.7 8.6 6.1 -6.3 5

 6 Federal funds and security RPs -4.9 2.0 3.4 2.4 -5.3 -11.4 -18.9 31.8 -22.7 16.0 -1.5 6

 7 Credit market instruments 25.5 16.8 19.0 27.5 30.5 35.7 31.6 21.2 33.6 3.9 24.6 7

 8 Open market paper -0.3 -0.1 0.2 1.5 -0.6 -4.1 -2.0 3.6 -0.0 -0.4 1.8 8

 9 U.S. government securities 4.1 -1.4 4.9 -0.6 -1.8 6.7 -3.2 -15.8 5.3 -0.3 0.3 9

10 Treasury -0.9 -1.8 -2.5 -3.5 -1.4 -1.0 -2.1 -1.0 -1.5 -3.4 -3.3 10

11 Agency 4.9 0.4 7.3 2.9 -0.4 7.7 -1.1 -14.8 6.8 3.1 3.5 11

12 Home mortgages 9.5 10.1 10.9 14.1 16.4 16.2 15.8 17.2 16.3 -1.1 12.5 12

13 Consumer credit 12.2 8.2 3.0 12.5 16.5 16.9 20.9 16.2 12.0 5.6 10.0 13

14 Mutual fund shares -0.3 -0.2 1.2 -1.1 -0.3 2.7 -3.8 -0.2 0.0 -0.9 6.4 14

15 Miscellaneous assets -0.2 3.8 6.8 -16.3 15.4 -2.4 6.3 17.5 40.1 24.0 4.9 15

16 Net increase in liabilities 16.4 20.5 34.7 20.8 22.0 23.6 4.9 35.7 23.8 57.1 50.6 16

17 Shares/deposits 16.3 20.3 33.6 17.7 22.4 28.1 0.7 30.3 30.6 77.1 44.9 17

18 Checkable 1.6 4.1 6.4 2.3 5.9 23.7 -3.5 1.9 1.4 15.8 -4.0 18

19 Small time and savings 12.3 13.2 23.1 12.3 13.0 6.4 -1.6 30.5 16.7 59.4 34.0 19

20 Large time 2.4 2.9 4.1 3.1 3.5 -2.0 5.7 -2.0 12.4 2.0 14.9 20

21 Other loans and advances 0.1 0.1 0.6 2.2 0.0 -2.9 0.9 1.1 1.0 -0.6 0.8 21

22 Miscellaneous liabilities 0.0 0.1 0.5 0.9 -0.4 -1.5 3.3 4.3 -7.8 -19.4 4.8 22

23 Discrepancy 1.4 -0.2 -0.1 1.4 -0.3 -0.7 1.6 -0.9 -1.1 -0.8 1.2 23

F.116 Bank Personal Trusts and Estates (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets -7.3 -44.7 -41.6 -8.2 -30.6 -29.5 -34.3 -30.0 -28.7 -26.6 -23.0 1

 2 Deposits 6.4 -2.9 6.2 8.4 4.3 4.2 5.2 3.2 4.6 3.8 4.2 2

 3 Checkable deposits and currency 0.3 0.0 -0.5 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 3

 4 Time and savings deposits -1.6 1.0 -2.1 0.9 0.6 1.0 0.8 0.4 0.3 0.5 0.3 4

 5 Money market fund shares 7.8 -4.0 8.8 7.5 3.7 3.2 4.4 2.8 4.3 3.4 4.0 5

 6 Credit market instruments -7.7 -25.0 -12.8 27.8 17.1 18.9 13.8 17.6 18.1 10.7 13.4 6

 7 Open market paper -2.6 -0.2 -4.5 0.6 0.6 0.7 0.4 0.8 0.5 -4.2 -3.7 7

 8 U.S. government securities 0.5 -10.1 -4.4 5.7 3.8 3.2 3.4 4.2 4.5 1.9 2.7 8

 9 Treasury -1.8 -5.4 -3.1 -0.0 -0.8 -0.9 -0.9 -0.7 -0.7 -1.4 -1.2 9

10 Agency 2.3 -4.7 -1.4 5.7 4.6 4.0 4.3 4.9 5.2 3.3 3.9 10

11 Municipal securities -4.3 -13.3 -1.1 10.8 4.7 7.2 3.6 5.2 3.0 3.1 2.0 11

12 Corporate and foreign bonds -1.7 -0.8 -2.6 11.3 8.1 8.0 6.6 7.6 10.2 10.1 12.4 12

13 Mortgages 0.3 -0.6 -0.2 -0.6 -0.1 -0.1 -0.2 -0.2 -0.1 -0.1 -0.0 13

14 Corporate equities -17.3 -0.5 -70.4 -40.4 -20.0 -20.0 -20.0 -20.0 -20.0 -20.0 -20.0 14

15 Mutual fund shares 7.3 -14.9 27.0 -1.5 -30.5 -30.5 -30.5 -30.5 -30.5 -20.0 -20.0 15

16 Miscellaneous assets 3.9 -1.4 8.4 -2.5 -1.5 -2.1 -2.8 -0.2 -0.9 -1.1 -0.7 16

17 Net increase in liabilities (2) -5.3 -49.9 -41.8 -6.5 -29.7 -28.4 -33.1 -29.2 -28.0 -26.1 -22.7 17

18 Discrepancy 2.1 -5.3 -0.2 1.7 0.9 1.1 1.2 0.8 0.7 0.5 0.3 18

(1) Includes personal trusts and estates administered by nondeposit noninsured trust companies.

(2) Equal to the net acquisition of tangible and financial assets. These liabilities are assets of the household sector.
30 Z.1, September 18, 2001

F.117 Life Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 2.5 -5.9 -7.5 -0.3 0.7 0.3 0.9 0.8 0.7 0.7 1.9 1

 2 Fixed nonresidential investment 11.1 11.4 12.0 11.2 12.3 11.9 12.3 12.5 12.5 12.4 12.3 2

 3 Net acquisition of financial assets 125.4 213.7 187.0 169.3 203.5 218.3 210.6 230.3 154.8 259.7 226.6 3

 4 Checkable deposits and currency -0.9 3.8 -2.7 0.0 -0.5 -5.6 6.4 -7.9 5.2 51.5 -11.1 4

 5 Money market fund shares 39.1 32.6 17.6 23.4 8.5 5.3 -5.7 11.8 22.6 89.5 88.2 5

 6 Credit market instruments 69.6 104.8 76.9 53.5 57.9 65.0 52.9 74.8 38.8 95.3 101.2 6

 7 Open market paper 2.9 17.5 7.5 2.0 -4.5 -15.1 12.2 -3.1 -12.2 -41.1 -21.6 7

 8 U.S. government securities -13.6 -1.4 -23.7 -2.3 6.3 10.5 2.3 8.7 3.9 15.6 1.4 8

 9 Treasury -14.9 1.6 -14.1 -9.3 -4.6 -4.0 -5.0 -4.1 -5.4 -17.3 -20.1 9

10 Agency 1.3 -3.0 -9.6 7.0 11.0 14.6 7.3 12.8 9.3 32.9 21.5 10

11 Municipal securities 1.5 0.1 1.7 1.7 -1.0 -0.5 -1.4 -0.9 -1.2 1.6 3.2 11

12 Corporate and foreign bonds 79.2 86.8 84.5 41.5 49.0 76.9 23.1 55.8 40.2 118.8 113.4 12

13 Policy loans 4.5 3.2 0.1 -5.0 2.9 -1.3 3.6 5.8 3.2 4.0 0.8 13

14 Mortgages -5.0 -1.3 6.8 15.7 5.2 -5.7 13.0 8.5 4.8 -3.6 4.0 14

15 Corporate equities 46.7 86.3 115.3 111.9 105.9 126.4 127.1 97.7 72.5 93.6 78.0 15

16 Mutual fund shares 2.4 -7.2 -23.4 15.0 11.0 12.0 12.4 10.1 9.6 2.0 2.0 16

17 Miscellaneous assets -31.4 -6.7 3.5 -34.6 20.7 15.2 17.6 43.8 6.2 -72.2 -31.8 17

18 Net increase in liabilities 92.1 186.0 173.1 152.9 189.3 188.9 209.5 210.6 148.1 200.7 186.5 18

19 Corporate equity issues -8.8 -4.0 -4.7 -6.0 -0.8 -6.2 12.9 -4.9 -4.8 -5.8 -5.3 19

20 Other loans and advances 1.1 0.2 0.7 0.7 -0.7 -0.7 -1.1 -0.3 -0.7 -2.4 0.1 20

21 Life insurance reserves 43.8 57.6 46.7 49.4 48.7 53.7 43.0 52.7 45.5 52.0 57.3 21

22 Pension fund reserves (1) 27.0 95.0 86.4 70.7 121.8 104.2 132.3 132.1 118.6 94.3 101.0 22

23 Taxes payable 0.5 1.2 1.2 1.3 1.6 1.4 1.6 1.6 1.8 1.8 1.9 23

24 Miscellaneous liabilities 28.5 36.0 42.8 36.8 18.6 36.5 20.9 29.5 -12.3 60.9 31.4 24

25 Discrepancy -41.9 -45.0 -33.6 -27.9 -25.8 -41.0 -12.5 -31.4 -18.5 -70.7 -50.5 25

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 24).

F.118 Other Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 1.9 0.9 3.5 3.2 4.9 4.2 4.8 5.9 4.6 4.7 -7.8 1

 2 Fixed nonresidential investment 7.5 9.3 10.8 11.0 12.1 11.8 12.1 12.3 12.2 12.0 11.9 2

 3 Net acquisition of financial assets 16.2 37.1 16.5 -12.6 10.0 16.2 -14.7 8.5 29.9 13.3 9.8 3

 4 Checkable deposits and currency -0.9 0.3 -0.2 0.2 -0.6 -4.5 -1.7 1.4 2.4 27.5 -4.0 4

 5 Security RPs -2.1 -0.2 7.4 -14.4 10.0 26.1 1.9 2.0 10.0 -42.0 5.0 5

 6 Credit market instruments 22.5 25.2 5.8 -3.0 -8.7 -11.2 -18.1 6.2 -11.7 2.1 2.8 6

 7 U.S. government securities -9.7 3.8 -21.9 -3.9 0.0 -1.4 -1.8 4.1 -0.8 -11.5 -6.0 7

 8 Treasury -12.6 2.1 -20.8 -9.7 -8.6 -9.2 -9.3 -6.9 -8.8 -15.8 -16.0 8

 9 Agency 2.8 1.7 -1.2 5.9 8.6 7.9 7.5 10.9 7.9 4.3 10.0 9

10 Municipal securities 14.4 2.6 16.5 -9.1 -14.9 -17.0 -17.5 -9.1 -15.9 4.7 3.0 10

11 Corporate and foreign bonds 18.3 18.9 11.6 10.0 6.4 4.7 4.0 11.9 5.2 8.8 6.0 11

12 Commercial mortgages -0.4 -0.2 -0.3 -0.0 -0.3 2.5 -2.8 -0.7 -0.2 0.0 -0.2 12

13 Corporate equities -6.8 3.0 -5.0 -1.7 0.7 -9.3 -11.8 -16.4 40.4 6.0 0.4 13

14 Trade receivables -0.1 2.7 1.6 2.0 1.0 10.0 4.5 6.1 -16.5 12.1 4.0 14

15 Miscellaneous assets 3.6 6.1 6.9 4.2 7.5 5.2 10.5 9.2 5.3 7.6 1.6 15

16 Net increase in liabilities 10.0 -1.2 2.9 6.7 3.7 -3.7 20.8 19.3 -21.7 15.1 6.5 16

17 Corporate equity issues -4.8 -13.7 -4.7 -7.8 -4.5 -13.1 -1.5 -1.0 -2.4 -1.8 -2.0 17

18 Taxes payable 2.5 1.8 2.0 2.0 2.3 2.0 2.2 2.3 2.5 2.6 2.7 18

19 Miscellaneous liabilities 12.3 10.7 5.6 12.4 5.9 7.4 20.1 17.9 -21.8 14.4 5.8 19

20 Discrepancy -11.8 -46.7 -21.0 11.5 -13.5 -27.5 28.3 4.4 -59.2 -5.4 -22.9 20
Z.1, September 18, 2001 31

F.119 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 0.5 0.6 0.7 0.8 0.9 0.8 0.8 0.9 0.9 0.9 0.9 1

 2 Fixed nonresidential investment 1.4 1.5 1.9 1.9 2.2 2.0 2.1 2.2 2.3 2.4 2.3 2

 3 Net acquisition of financial assets 4.6 -11.4 11.8 11.6 18.6 5.5 21.3 13.5 34.1 21.6 14.6 3

 4 Checkable deposits and currency 0.6 1.3 0.2 1.2 0.7 0.5 0.5 1.3 0.4 1.0 0.3 4

 5 Time and savings deposits 5.3 7.5 1.5 -4.0 2.0 -0.7 5.4 -0.8 4.0 -3.9 -4.4 5

 6 Money market fund shares 10.8 13.1 1.9 11.7 5.9 1.8 0.3 12.1 9.4 9.7 10.0 6

 7 Security RPs 4.6 0.9 1.0 0.4 0.9 0.5 0.5 1.3 1.3 -3.6 1.3 7

 8 Credit market instruments -4.1 47.6 56.4 45.0 41.3 46.8 24.7 64.9 28.7 26.1 20.2 8

 9 Open market paper 5.6 1.2 2.9 3.7 -1.8 -7.6 0.4 1.2 -1.2 -13.2 -8.5 9

10 U.S. government securities -13.3 11.8 34.6 30.0 26.9 39.2 12.7 36.8 18.8 3.1 -14.1 10

11 Treasury -2.7 4.1 -4.4 -0.6 -0.8 -3.1 7.3 0.3 -7.7 -26.2 -8.2 11

12 Agency -10.5 7.7 39.0 30.6 27.7 42.3 5.4 36.6 26.5 29.3 -5.9 12

13 Corporate and foreign bonds 2.9 33.8 17.1 9.3 14.5 13.2 10.2 25.1 9.6 34.7 41.7 13

14 Mortgages 0.6 0.7 1.9 1.9 1.7 2.1 1.4 1.7 1.4 1.5 1.2 14

15 Corporate equities -71.5 -137.8 -113.0 -92.2 -80.8 -102.4 -62.4 -114.4 -44.2 -40.5 -46.2 15

16 Mutual fund shares 23.0 42.7 31.7 30.7 32.4 43.7 34.8 26.6 24.5 26.8 11.5 16

17 Miscellaneous assets 35.9 13.5 32.0 18.9 16.3 15.3 17.5 22.5 10.0 6.0 21.9 17

18 Unallocated insurance contracts (2) 14.4 -1.0 21.4 13.4 9.1 9.4 7.2 14.8 4.9 3.2 16.3 18

19 Contributions receivable 4.1 7.1 1.9 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 19

20 Other 17.4 7.4 8.7 4.5 6.2 4.9 9.3 6.7 4.1 1.8 4.6 20

21 Pension fund reserves (liabilities) (3) 5.5 -10.4 13.0 12.8 19.9 6.7 22.6 14.8 35.5 23.1 16.1 21

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans). Also includes the Federal Employees Retirement System Thrift Savings Plan.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(3) Equal to the net acquisition of tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 0.5 0.6 0.7 0.8 0.8 0.8 0.8 0.9 0.9 0.9 0.9 1

 2 Fixed nonresidential investment 1.4 1.5 1.8 1.9 2.1 2.0 2.1 2.2 2.2 2.3 2.3 2

 3 Net acquisition of financial assets 59.9 75.6 60.4 58.8 53.1 60.7 65.4 42.8 43.4 19.3 33.7 3

 4 Checkable deposits and currency 3.3 -2.2 4.7 -0.7 -0.1 7.4 5.5 -1.7 -11.7 -7.6 3.1 4

 5 Time and savings deposits -2.2 0.1 -0.4 -0.3 -0.6 2.9 1.3 6.9 -13.5 -1.0 4.7 5

 6 Security RPs -3.3 0.4 8.9 2.8 4.3 20.1 5.8 -6.8 -1.8 -8.7 -4.1 6

 7 Credit market instruments 35.8 67.1 72.1 46.9 49.6 63.3 31.5 37.6 66.1 13.3 17.7 7

 8 Open market paper -3.3 0.4 8.9 2.8 4.3 20.1 5.8 -6.8 -1.8 -8.7 -4.1 8

 9 U.S. government securities 17.3 31.8 19.9 16.4 17.1 -18.2 56.2 7.5 22.9 -9.0 -1.2 9

10 Treasury 11.8 13.4 0.8 -6.6 -15.5 -0.3 -2.5 -39.2 -19.8 -1.5 -17.3 10

11 Agency 5.5 18.4 19.1 22.9 32.6 -17.9 58.7 46.8 42.7 -7.5 16.1 11

12 Municipal securities -1.3 0.9 1.7 -0.2 -1.5 -0.5 -0.4 -2.5 -2.3 0.7 -1.0 12

13 Corporate and foreign bonds 22.2 33.1 35.1 30.4 29.7 61.1 -27.2 37.5 47.3 27.8 21.4 13

14 Mortgages 0.8 0.9 6.5 -2.6 -0.0 0.9 -2.9 1.9 0.1 2.5 2.6 14

15 Corporate equities 18.2 9.4 -28.2 -6.2 -8.9 -27.9 8.0 -3.8 -11.9 7.8 6.9 15

16 Miscellaneous assets 8.2 0.7 3.3 16.3 8.8 -5.0 13.3 10.6 16.3 15.4 5.4 16

17 Pension fund reserves (liabilities) (1) 60.8 76.5 61.5 59.9 54.3 61.8 66.6 44.1 44.8 20.8 35.1 17

(1) Equal to the net acquisition of tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.
32 Z.1, September 18, 2001

F.121 Money Market Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets 145.4 155.9 287.2 249.1 233.3 239.7 71.5 250.9 371.1 621.4 322.5 1

 2 Foreign deposits 3.4 0.1 7.4 12.2 48.2 54.1 68.3 8.0 62.5 87.1 -10.1 2

 3 Checkable deposits and currency 2.4 2.6 -2.6 -1.2 4.5 -3.2 -2.4 14.7 8.8 -24.4 4.2 3

 4 Time and savings deposits 30.4 28.6 15.7 33.3 -23.8 -10.8 -130.3 16.9 29.0 147.1 -7.3 4

 5 Security RPs 16.0 22.8 12.9 0.1 43.4 55.1 31.9 16.6 69.9 71.5 -5.6 5

 6 Credit market instruments 88.8 87.5 244.0 182.0 148.9 161.5 -118.2 256.1 296.0 303.4 166.2 6

 7 Open market paper 38.4 62.1 78.2 104.7 95.5 131.5 -13.0 134.2 129.1 3.3 17.1 7

 8 U.S. government securities 31.3 -9.5 95.0 17.3 -19.1 -80.4 -93.3 15.1 82.3 286.8 116.6 8

 9 Treasury 20.3 -4.0 17.5 0.1 -13.3 -7.5 -34.8 -0.1 -10.9 35.5 37.0 9

10 Agency 11.0 -5.5 77.5 17.1 -5.8 -72.9 -58.5 15.2 93.2 251.3 79.7 10

11 Municipal securities 16.8 22.5 26.0 17.5 34.3 30.8 24.2 29.8 52.6 14.3 39.2 11

12 Corporate and foreign bonds 2.4 12.5 44.8 42.5 38.2 79.7 -36.1 77.0 32.1 -1.1 -6.8 12

13 Miscellaneous assets 4.4 14.3 9.6 22.6 12.2 -17.1 222.3 -61.4 -95.2 36.7 175.1 13

14 Net share issues (liabilities) 145.4 155.9 287.2 249.1 233.3 239.7 71.5 250.9 371.1 621.4 322.5 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.117).

F.122 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 5.6 8.0 -8.4 6.9 1.7 7.6 0.5 0.2 -1.6 -2.8 -2.2 1

 2 Net acquisition of financial assets 237.6 265.1 274.6 188.3 243.9 307.3 232.0 279.4 156.7 96.4 283.8 2

 3 Security RPs -2.7 10.3 10.4 8.5 26.7 2.6 60.6 39.6 3.8 -67.0 18.4 3

 4 Credit market instruments 48.9 80.9 124.8 47.2 26.8 -66.9 63.1 50.1 60.8 69.4 130.9 4

 5 Open market paper -3.1 10.6 10.4 8.5 26.7 13.2 43.2 31.3 19.0 -53.5 -15.6 5

 6 U.S. government securities 15.1 19.5 26.1 12.5 10.3 -32.8 29.1 7.7 37.3 43.1 69.0 6

 7 Treasury 8.9 11.0 5.2 6.2 4.0 -14.6 12.3 3.2 15.0 17.1 26.0 7

 8 Agency 6.2 8.4 21.0 6.3 6.3 -18.2 16.7 4.5 22.3 25.9 43.0 8

 9 Municipal securities 3.1 6.5 22.8 -3.2 -8.9 -28.3 -17.9 2.0 8.5 22.0 15.0 9

10 Corporate and foreign bonds 33.8 44.4 65.5 29.3 -1.3 -19.0 8.7 9.2 -4.0 57.8 62.4 10

11 Corporate equities 193.0 166.8 143.3 136.9 190.9 378.2 108.4 186.9 90.3 99.6 134.7 11

12 Miscellaneous assets -1.7 7.1 -3.9 -4.3 -0.5 -6.6 -0.0 2.9 1.8 -5.6 -0.2 12

13 Net share issues (liabilities) 237.6 265.1 274.6 188.3 243.9 307.3 232.0 279.4 156.7 96.4 283.8 13

14 Discrepancy 5.6 8.0 -8.4 6.9 1.7 7.6 0.5 0.2 -1.6 -2.8 -2.2 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.117).

F.123 Closed-End Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial asssets 3.0 -7.7 -7.8 -2.8 -8.1 -8.1 -8.1 -8.1 -8.1 -8.1 -8.1 1

 2 Credit market instruments 4.6 -2.6 5.5 7.4 -8.4 -8.4 -8.4 -8.4 -8.4 -8.4 -8.4 2

 3 U.S. government securities 0.2 -1.2 -0.9 -1.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 3

 4 Municipal securities 1.3 -0.8 1.9 8.7 -4.6 -4.6 -4.6 -4.6 -4.6 -4.6 -4.6 4

 5 Corporate and foreign bonds 3.2 -0.5 4.5 -0.0 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 5

 6 Corporate equities -1.6 -5.1 -13.3 -10.2 0.4 0.4 0.4 0.4 0.4 0.4 0.4 6

 7 Net share issues (liabilities) 3.0 -7.7 -7.8 -2.8 -8.1 -8.1 -8.1 -8.1 -8.1 -8.1 -8.1 7
Z.1, September 18, 2001 33

F.124 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 1.7 1.9 2.1 2.0 1.7 1.6 1.7 1.9 1.7 1.7 1.7 1

 2 Fixed nonresidential investment 0.3 0.3 0.4 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4 2

 3 Net acquisition of financial assets 91.7 110.8 304.4 316.7 248.8 126.8 239.2 278.9 350.3 351.6 272.3 3

 4 Checkable deposits and currency -0.8 1.2 2.5 7.4 -9.7 -44.2 2.1 -0.7 4.3 -0.3 2.6 4

 5 Federal funds and security RPs -11.8 -4.1 -13.4 12.7 -1.7 3.4 -39.0 51.4 -22.5 60.4 -33.1 5

 6 Credit market instruments 97.4 106.6 314.6 291.7 240.9 205.4 250.9 188.6 318.8 347.8 302.4 6

 7 Open market paper 9.6 -1.1 26.9 -27.1 16.8 17.0 -13.1 29.7 33.4 -48.9 40.1 7

 8 U.S. government securities 54.3 76.1 162.3 184.5 136.2 97.3 56.4 148.0 242.8 239.3 164.0 8

 9 Treasury -12.9 7.1 -0.7 5.8 -8.9 -23.2 -18.0 -6.5 12.2 4.9 8.3 9

10 Agency 67.2 69.0 163.1 178.7 145.0 120.5 74.4 154.6 230.6 234.4 155.7 10

11 Municipal securities 0.0 -0.4 4.1 1.4 -1.8 -5.7 -0.1 3.0 -4.5 4.7 8.3 11

12 Corporate and foreign bonds 10.8 5.3 20.7 23.7 25.8 11.0 49.1 29.5 13.6 31.7 54.4 12

13 Other loans and advances 28.8 31.2 92.3 113.6 41.3 79.0 119.9 -39.0 5.5 109.3 -0.6 13

14 Sallie Mae -1.7 -5.3 -1.4 5.1 -3.9 -8.8 -1.8 -11.1 6.2 2.4 4.7 14

15 Farm Credit System 1.4 0.0 3.3 0.9 3.1 0.9 3.2 4.0 4.3 -0.8 5.6 15

16 FHLB loans 29.1 36.4 90.4 107.6 42.1 86.9 118.5 -31.9 -5.0 107.8 -10.9 16

17 Mortgages -6.1 -4.5 8.3 -4.3 22.7 6.8 38.6 17.3 28.0 11.6 36.3 17

18 Home -6.7 -4.2 5.3 -10.3 15.8 1.8 31.4 11.3 18.5 4.7 22.7 18

19 Multifamily residential -0.5 -1.2 0.8 4.8 4.9 5.2 4.6 3.3 6.6 4.1 7.5 19

20 Farm 1.1 1.0 2.2 1.1 2.0 -0.2 2.6 2.7 2.9 2.8 6.1 20

21 Miscellaneous assets 6.8 7.1 0.7 5.0 19.2 -37.9 25.3 39.6 49.6 -56.3 0.4 21

22 Net increase in liabilities 90.7 106.2 298.6 312.1 241.5 122.9 233.0 270.5 339.5 344.4 260.4 22

23 Credit market instruments 90.4 98.4 278.3 318.2 234.1 104.9 248.9 278.1 304.5 262.3 264.7 23

24 GSE issues (2) 90.4 98.4 278.3 318.2 234.1 104.9 248.9 278.1 304.5 262.3 264.7 24

25 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Miscellaneous liabilities 0.3 7.8 20.3 -6.0 7.4 18.0 -15.8 -7.6 35.0 82.1 -4.3 26

27 Discrepancy 0.5 -3.0 -4.1 -3.0 -6.0 -2.6 -4.9 -6.9 -9.4 -5.9 -10.7 27

(1) Federal Home Loan Banks, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Farm Credit System, the Financing Corporation, the Resolution

 Funding Corporation, and the Student Loan Marketing Association (Sallie Mae), which is a subsidiary of USA Education, Inc., a private company chartered in 1997.

(2) Such issues are classified as U.S. government securities.

F.125 Federally Related Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 141.0 114.6 192.6 273.8 199.4 119.5 132.2 236.7 309.1 170.3 406.5 1

 2 Home mortgages 135.4 109.3 182.1 264.6 190.9 113.0 124.5 228.9 297.0 157.2 387.4 2

 3 Multifamily residential mortgages 5.6 5.3 10.5 9.2 8.5 6.5 7.7 7.8 12.0 13.1 19.2 3

 4 Commercial mortgages -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Net increase in pool securities (liabilities)(2) 141.0 114.6 192.6 273.8 199.4 119.5 132.2 236.7 309.1 170.3 406.5 6

(1) GNMA, FNMA, FHLMC, and Farmers Home Administration pools. Also includes federally related pools that are used as collateral for federally related agency-issued CMOs and

 privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as U.S. government securities.
34 Z.1, September 18, 2001

F.126 Issuers of Asset-Backed Securities (ABSs)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 0.7 0.9 1.2 1.2 1.1 1.1 1.1 1.0 1.0 1.0 0.9 1

 2 Fixed nonresidential investment 6.0 3.1 3.0 -1.7 -2.0 -2.4 -2.6 -1.7 -1.3 -0.8 -0.9 2

 3 Net acquisition of financial assets 145.5 200.1 319.6 226.3 199.3 178.4 149.7 158.9 310.2 291.6 173.6 3

 4 Agency securities (1) 4.9 3.6 38.2 41.3 2.8 21.6 -0.7 -1.9 -7.6 39.5 -43.9 4

 5 Other loans and advances 13.3 32.2 27.6 9.2 21.2 44.9 4.6 -4.5 39.9 -0.7 5.0 5

 6 Student loans 5.3 7.8 3.8 1.5 6.5 13.6 6.8 8.8 -3.3 2.5 -0.1 6

 7 Loans to business 8.1 24.4 23.8 7.7 14.7 31.3 -2.3 -13.2 43.2 -3.2 5.1 7

 8 Mortgages (2) 48.1 80.7 156.5 92.0 85.2 54.4 74.2 83.5 128.6 115.3 179.6 8

 9 Home 31.8 54.5 94.5 49.9 44.8 34.0 33.5 51.0 60.8 93.9 63.6 9

10 Multifamily residential 4.0 5.0 12.8 8.5 7.3 3.4 5.4 6.9 13.5 4.9 24.9 10

11 Commercial 12.2 21.3 49.2 33.6 33.1 17.1 35.3 25.7 54.3 16.5 91.1 11

12 Consumer credit 54.2 47.2 59.4 62.6 57.1 33.3 33.4 43.8 118.1 115.7 18.7 12

13 Trade credit 25.0 36.3 37.9 21.1 33.0 24.2 38.4 38.0 31.3 21.8 14.2 13

14 Net increase in liabilities 150.8 202.2 321.4 223.4 196.3 175.0 146.0 156.2 307.9 289.8 171.8 14

15 Commercial paper 45.4 89.4 125.7 139.0 121.0 136.5 125.5 102.3 119.9 84.6 96.8 15

16 Corporate bonds 105.4 112.9 195.7 84.4 75.2 38.4 20.6 53.9 188.0 205.3 75.0 16

17 Discrepancy 0.0 0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 17

 Memo:

 Securitized assets not included above

18 Consumer leases (3) 5.3 2.1 1.8 -2.9 -3.1 -3.5 -3.7 -2.7 -2.3 -1.7 -1.8 18

19 REIT assets (4) -0.3 3.7 2.9 -1.0 -2.2 0.6 -2.9 -3.0 -3.4 -2.4 -0.6 19

(1) Federally related mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

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

 The leased automobile is a tangible asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(4) Included in table F.129.

F.127 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 25.0 26.3 30.6 39.6 41.8 39.4 41.3 41.8 44.7 44.4 47.5 1

 2 Fixed nonresidential investment 28.1 31.1 28.2 26.6 30.2 29.6 30.5 29.6 31.3 27.3 28.5 2

 3 Net acquisition of financial assets 42.2 42.8 70.2 145.8 127.0 121.4 149.0 211.9 25.6 -12.8 110.2 3

 4 Checkable deposits and currency 1.9 2.1 2.3 2.5 2.6 2.6 2.6 2.7 2.7 2.8 2.8 4

 5 Credit market instruments 18.4 21.9 51.9 94.9 99.4 144.0 138.9 91.6 23.1 -3.9 85.5 5

 6 Other loans and advances 7.9 9.0 29.0 57.6 66.0 105.1 85.7 50.1 23.0 -11.8 47.2 6

 7 Mortgages 10.2 5.3 14.4 24.2 21.8 16.0 31.4 17.4 22.3 22.2 23.0 7

 8 Consumer credit 0.3 7.6 8.5 13.1 11.6 22.9 21.7 24.1 -22.3 -14.3 15.4 8

 9 Miscellaneous assets 22.0 18.9 16.1 48.5 25.0 -25.2 7.5 117.6 -0.2 -11.6 21.9 9

10 Net increase in liabilities 49.8 36.6 61.6 135.9 157.8 202.9 154.9 228.9 44.5 -15.1 128.6 10

11 Credit market instruments 45.9 48.7 43.0 62.4 74.7 53.5 177.7 29.6 37.8 -42.8 35.7 11

12 Open market paper 9.0 23.9 30.0 -3.7 7.3 10.7 24.2 -54.7 49.1 -227.8 7.4 12

13 Corporate bonds 32.5 20.3 10.9 57.2 66.8 60.1 132.7 81.5 -6.9 151.9 11.2 13

14 Bank loans n.e.c. 4.4 4.4 2.1 8.8 0.5 -17.2 20.8 2.8 -4.4 33.1 17.0 14

15 Taxes payable 0.8 0.8 0.8 0.8 1.0 0.9 0.9 1.0 1.0 1.1 1.1 15

16 Miscellaneous liabilities 3.1 -12.9 17.8 72.7 82.2 148.5 -23.8 198.3 5.6 26.6 91.8 16

17 Foreign direct investment in U.S. 5.1 6.6 2.6 11.4 17.6 -7.6 3.1 5.2 69.7 23.6 18.6 17

18 Investment by parent 9.3 4.3 -2.9 62.1 22.7 85.2 -33.2 29.9 8.8 -32.3 29.7 18

19 Other -11.3 -23.8 18.0 -0.8 41.9 70.9 6.3 163.2 -72.9 35.3 43.5 19

20 Discrepancy 4.5 -11.1 -6.2 3.0 42.4 91.3 16.7 29.2 32.3 14.8 37.4 20

 Memo:

21 Consumer leases not included above (2) 11.7 4.3 -3.5 5.0 4.7 13.7 8.7 3.0 -6.7 -6.4 -6.5 21

(1) Includes retail captive finance companies.

(2) See footnote (3), table F.126.
Z.1, September 18, 2001 35

F.128 Mortgage Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets 8.2 -9.1 3.2 0.3 0.2 -6.0 5.5 -0.5 2.0 1.4 1.1 1

 2 Home mortgages 8.2 -10.2 3.1 0.3 0.2 -6.0 5.5 -0.6 1.9 1.4 1.0 2

 3 Multifamily residential mortgages -0.1 1.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Net increase in liabilities 8.2 -9.1 3.2 0.3 0.2 -6.0 5.5 -0.5 2.0 1.4 1.1 5

 6 Bank loans n.e.c. 4.1 -4.6 1.6 0.2 0.1 -3.0 2.7 -0.3 1.0 0.7 0.6 6

 7 Investment by parent 4.1 -4.6 1.6 0.2 0.1 -3.0 2.7 -0.3 1.0 0.7 0.6 7

F.129 Real Estate Investment Trusts (REITs)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 4.1 6.8 8.2 8.1 7.7 7.3 7.6 7.9 8.1 8.3 8.6 1

 2 Fixed nonresidential investment 17.8 52.0 64.7 9.2 0.4 4.1 6.6 3.6 -12.8 3.4 -14.5 2

 3 Multifamily residential investment 4.4 11.3 11.4 1.6 0.1 0.7 1.2 0.6 -2.3 0.6 -2.6 3

 4 Net acquisition of financial assets 4.9 26.1 6.4 -2.3 -6.3 -14.1 -6.9 0.1 -4.4 5.8 7.1 4

 5 Checkable deposits and currency 2.2 1.1 0.8 0.3 -0.0 0.4 -1.2 -1.4 2.0 -1.0 2.1 5

 6 Credit market instruments 4.4 20.2 -5.1 -2.6 -6.3 -16.3 -2.5 -3.6 -2.8 4.0 1.1 6

 7 Agency securities 3.2 9.0 -8.1 1.1 0.3 -0.4 -3.8 3.0 2.5 -2.6 14.3 7

 8 Corporate and foreign bonds 1.4 2.1 -0.4 -0.3 -0.4 -0.7 3.5 -3.1 -1.4 8.6 -9.0 8

 9 Mortgages -0.3 9.1 3.4 -3.3 -6.2 -15.2 -2.2 -3.5 -3.8 -1.9 -4.2 9

10 Home 1.1 6.0 0.8 -2.4 -4.6 -14.4 -1.9 -1.1 -0.8 -0.4 -0.8 10

11 Multifamily residential -0.4 0.9 0.1 -0.6 -0.2 -0.8 0.9 -0.3 -0.7 -0.7 0.2 11

12 Commercial -1.0 2.2 2.5 -0.4 -1.4 0.0 -1.2 -2.0 -2.4 -0.8 -3.6 12

13 Miscellaneous assets -1.7 4.9 10.7 -0.1 0.0 1.7 -3.2 5.1 -3.6 2.8 3.9 13

14 Net increase in liabilities 29.5 92.2 86.4 17.7 3.0 2.8 10.6 8.0 -9.6 19.2 -7.9 14

15 Security RPs 2.8 11.2 -9.8 0.5 -3.8 -10.7 -7.2 4.5 -1.8 4.9 7.8 15

16 Credit market instruments 11.9 39.6 62.7 6.3 2.7 11.5 9.8 -2.4 -8.1 -6.1 2.2 16

17 Open market paper 0.0 0.0 0.2 -0.1 0.0 0.0 3.5 -3.4 0.0 -0.2 -0.5 17

18 Corporate bonds 1.3 14.8 21.7 8.9 4.8 6.6 13.2 5.6 -6.3 12.2 -14.0 18

19 Bank loans n.e.c. 2.7 9.9 16.0 -7.6 -8.3 -2.1 -16.9 -10.6 -3.7 -10.6 0.7 19

20 Mortgages 7.9 14.9 24.8 5.1 6.2 7.0 10.0 6.0 1.8 -7.5 16.0 20

21 Corporate equity issues 12.3 32.5 19.8 6.6 2.2 2.6 2.0 1.4 3.0 1.4 3.2 21

22 Miscellaneous liabilities 2.5 8.8 13.6 4.4 1.8 -0.6 6.0 4.5 -2.6 18.9 -21.1 22

23 Discrepancy 6.6 9.5 11.9 17.4 16.6 19.4 17.3 11.6 18.0 17.7 10.7 23

 Memo:

24 Securitized assets included above -0.3 3.7 2.9 -1.0 -2.2 0.6 -2.9 -3.0 -3.4 -2.4 -0.6 24

25 Agency securities 0.3 0.4 0.1 -1.3 -0.2 0.5 -0.4 -0.5 -0.4 -0.4 -0.9 25

26 Home mortgages -0.8 3.1 1.8 0.0 -0.9 1.2 -2.3 -2.3 -0.2 -1.8 -1.0 26

27 Multifamily residential mortgages 0.3 0.2 0.4 0.1 -0.5 -0.6 -0.1 -0.2 -1.0 -0.1 0.5 27

28 Commercial mortgages 0.0 0.0 0.6 0.1 -0.6 -0.5 -0.0 -0.1 -1.7 -0.0 0.9 28
36 Z.1, September 18, 2001

F.130 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 3.9 9.2 5.3 0.4 -2.8 -0.2 -1.2 -3.4 -6.2 -6.4 -5.5 1

 2 Fixed nonresidential investment 12.1 14.5 18.0 19.0 20.9 20.2 20.8 21.2 21.3 21.1 20.9 2

 3 Net acquisition of financial assets 68.2 142.8 142.0 79.8 216.4 619.0 26.0 285.5 -65.0 78.7 522.9 3

 4 Checkable deposits and currency 1.9 6.0 3.7 3.3 1.6 -6.7 -0.7 -24.9 38.7 2.6 24.3 4

 5 Credit market instruments -15.7 14.9 6.8 -34.7 68.9 101.9 90.0 152.7 -69.0 311.4 13.8 5

 6 Open market paper 1.6 0.6 3.8 -2.0 13.2 16.9 32.1 28.8 -24.9 21.7 0.8 6

 7 U.S. government securities -29.9 2.7 21.7 -43.4 37.0 23.1 65.3 90.0 -30.2 239.0 -23.0 7

 8 Treasury -31.1 7.5 21.2 -58.4 39.3 85.7 46.1 59.9 -34.5 192.6 -107.2 8

 9 Agency 1.2 -4.8 0.5 15.0 -2.3 -62.7 19.2 30.1 4.3 46.4 84.2 9

10 Municipal securities -1.9 2.4 -0.1 -1.2 -0.7 -4.4 -3.9 3.9 1.8 5.5 4.1 10

11 Corporate and foreign bonds 14.5 9.2 -18.6 12.0 19.3 66.3 -3.5 30.0 -15.7 45.3 32.0 11

12 Corporate equities -1.9 2.4 -6.0 7.7 7.7 31.1 2.8 18.6 -21.6 39.8 32.4 12

13 Security credit 15.8 36.8 21.6 75.2 5.8 217.9 -58.6 14.6 -150.9 -151.6 0.6 13

14 Miscellaneous assets 68.2 82.8 115.9 28.3 132.4 274.9 -7.5 124.5 137.8 -123.4 451.9 14

15 Net increase in liabilities 71.4 141.3 146.2 89.9 231.4 630.1 39.4 302.0 -46.1 95.8 540.5 15

16 Security RPs (net) -1.5 22.7 4.5 37.2 57.2 149.4 -42.6 189.7 -67.8 -69.8 195.7 16

17 Corporate bonds -2.0 8.1 7.2 -17.2 15.6 44.4 -0.7 25.4 -6.6 -23.7 35.6 17

18 Corporate equity issues -6.5 -5.9 2.5 7.6 -4.3 7.5 1.4 -26.0 0.1 20.6 -9.8 18

19 Trade payables 4.0 5.7 -1.0 11.9 5.0 11.6 22.6 -14.0 0.0 -2.2 -8.1 19

20 Security credit 36.6 74.2 81.7 29.1 135.2 267.1 -32.8 80.1 226.5 87.0 -83.5 20

21 Customer credit balances (HH) 35.3 52.6 61.2 47.2 84.9 182.9 -49.6 51.0 155.1 13.2 3.3 21

22 From banks 1.3 21.7 20.5 -18.1 50.4 84.2 16.8 29.1 71.4 73.8 -86.7 22

23 Taxes payable 0.1 0.1 -0.1 0.9 -0.1 0.9 -2.8 0.2 1.3 -3.5 0.5 23

24 Miscellaneous liabilities 28.4 21.6 44.7 7.2 -5.7 119.8 77.8 -0.5 -219.8 85.2 379.8 24

25 Foreign direct investment in U.S. 1.3 0.3 1.7 3.3 1.7 2.3 1.6 2.3 0.5 4.5 2.1 25

26 Due to affiliates 42.9 70.0 92.4 57.4 58.6 84.8 47.6 36.7 65.0 115.3 -14.1 26

27 Other -15.8 -48.7 -49.4 -53.5 -65.9 32.8 28.6 -39.6 -285.3 -34.7 391.8 27

28 Proprietors’ net investment 12.4 14.9 6.6 13.1 28.3 29.4 16.5 47.2 20.2 2.3 30.2 28

29 Discrepancy -5.0 -6.8 -8.6 -8.5 -8.7 -9.3 -8.7 -8.2 -8.5 -10.5 -8.9 29

F.131 Funding Corporations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 105.1 118.2 105.6 257.1 124.1 81.6 228.6 32.1 154.2 -7.9 -80.7 1

 2 Money market fund shares 27.3 10.4 57.9 48.9 33.5 10.5 -11.2 87.4 47.3 107.6 124.2 2

 3 Credit market instruments 12.6 50.4 -12.9 133.8 36.6 -7.2 207.7 -72.9 19.0 -175.3 -167.5 3

 4 Open market paper -0.2 53.8 -17.4 137.6 36.5 32.8 178.4 -44.1 -21.0 -214.1 -206.2 4

 5 Corporate and foreign bonds 12.8 -3.4 4.5 -3.8 0.1 -40.0 29.4 -28.8 40.0 38.7 38.7 5

 6 Miscellaneous assets (2) 65.2 57.3 60.7 74.4 54.0 78.3 32.1 17.6 87.8 59.9 -37.3 6

 7 Investment in foreign banking offices 13.7 14.3 11.8 2.5 45.6 86.1 -0.1 21.5 75.0 14.6 -20.2 7

 8 Investment in brokers and dealers 51.5 43.0 48.9 71.9 8.3 -7.8 32.2 -3.9 12.9 45.3 -17.1 8

 9 Net increase in liabilities 105.1 118.2 105.6 257.1 124.1 81.6 228.6 32.1 154.2 -7.9 -80.7 9

10 Credit market instruments 64.1 80.7 40.7 92.2 0.7 -36.8 -0.1 48.2 -8.5 24.6 -155.5 10

11 Open market paper 34.9 50.1 6.7 34.8 -1.2 -19.2 -23.8 57.9 -19.6 -21.0 -181.8 11

12 Corporate bonds 29.2 30.6 34.0 57.4 1.9 -17.6 23.8 -9.6 11.2 45.6 26.3 12

13 Miscellaneous liabilities 41.0 37.5 64.9 164.9 123.4 118.4 228.6 -16.2 162.6 -32.5 74.9 13

14 Foreign direct investment in U.S. 1.1 -23.4 20.0 -17.8 53.2 115.1 32.1 -30.6 96.3 35.3 118.2 14

15 Securities loaned (net) 59.9 57.2 70.0 16.3 86.2 106.4 85.5 9.9 143.1 -71.7 212.9 15

16 Other -20.0 3.6 -25.0 166.4 -16.1 -103.1 111.0 4.6 -76.8 3.9 -256.2 16

(1) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations.

(2) Due from affiliated companies.
Z.1, September 18, 2001 37

F.200 Gold and Official Foreign Exchange Holdings (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total U.S. reserves -6.7 1.0 6.8 -8.7 0.3 2.2 -8.1 1.4 5.6 -0.8 5.4 1

 2 U.S. gold stock and SDRs -0.4 0.4 0.1 0.0 0.7 0.7 0.7 0.7 0.7 0.8 0.6 2

 3 Federal govt.: Exchange Stab. Fund -0.4 0.4 0.1 0.0 0.7 0.7 0.7 0.7 0.7 0.8 0.6 3

 4 Monetary authority (2) -0.0 -0.0 -0.0 0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 -0.0 4

 5 U.S. foreign exchange position -6.3 0.7 6.6 -8.7 -0.4 1.5 -8.8 0.7 4.9 -1.5 4.7 5

 6 Official foreign currency holdings -7.6 -2.9 1.5 -3.3 1.9 0.5 0.5 5.9 0.6 0.8 0.7 6

 7 Treasury -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 2.9 0.3 0.4 0.3 7

 8 Monetary authority -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 2.9 0.3 0.4 0.3 8

 9 Net IMF position 1.3 3.6 5.1 -5.5 -2.3 0.9 -9.3 -5.2 4.3 -2.3 4.1 9

10 Federal government 1.3 3.6 5.1 -5.5 -2.3 0.9 -9.3 -5.2 4.3 -2.3 4.1 10

11 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

(1) Lines 1, 2, and 3 exclude increases in SDRs through allocations, which have occurred at various dates beginning January 1970. Transactions in SDRs are included. Also excluded from the table

 are revaluations of foreign currency holdings, gold, SDRs, and IMF position. Allocations and revaluations are included in tables on outstandings.

F.201 SDR Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 Liab: Federal government -0.5 -0.5 0.0 -3.0 -4.0 0.0 -8.0 -4.0 -4.0 0.0 0.0 1

 2 Asset: Monetary authority -0.5 -0.5 0.0 -3.0 -4.0 0.0 -8.0 -4.0 -4.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.5 0.5 0.6 1.0 2.4 2.2 3.2 4.2 -0.0 -1.1 1.1 3

 4 Asset: Monetary authority 1.0 0.6 0.7 1.7 3.6 4.0 3.9 3.3 3.3 2.5 1.4 4

 5 Discrepancy (seigniorage) -0.4 -0.2 -0.1 -0.7 -1.2 -1.8 -0.7 0.9 -3.3 -3.6 -0.3 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total rest of the world liability 85.9 107.7 6.5 61.0 120.8 313.3 3.4 -40.8 207.4 235.5 -146.5 1

 Held by:

 2 Household sector 12.4 6.5 0.1 5.2 7.7 20.0 0.2 -2.6 13.3 -6.0 -16.0 2

 3 Nonfinancial corporate business 10.5 -5.1 7.4 -2.3 -3.9 -23.6 16.8 53.0 -61.7 -23.9 -12.1 3

 4 Money market mutual funds 3.4 0.1 7.4 12.2 48.2 54.1 68.3 8.0 62.5 87.1 -10.1 4

 5 Discrepancy--unallocated assets 59.6 106.2 -8.5 45.8 68.7 262.7 -81.9 -99.2 193.3 178.2 -108.3 5
38 Z.1, September 18, 2001

F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities -51.6 -19.7 -32.3 17.6 -20.3 -72.9 151.9 -170.6 10.6 -202.4 177.0 1

 2 Monetary authority -0.5 6.1 -7.5 22.2 -27.1 -104.2 6.2 -15.5 5.0 7.1 5.2 2

 3 Depository institution reserves -5.1 6.3 -4.5 -2.3 -5.0 -5.1 0.4 -4.6 -10.7 14.7 1.5 3

 4 Vault cash 4.6 -0.2 -2.9 24.5 -22.2 -99.1 5.7 -10.9 15.7 -7.6 3.7 4

 5 Commercial banking -51.2 -25.8 -24.8 -4.6 6.9 31.3 145.7 -155.0 5.6 -209.5 171.7 5

 6 To monetary authority 4.1 -1.6 -1.1 -1.7 1.0 0.1 1.9 1.0 1.1 -3.2 -1.7 6

 7 To banks in foreign countries -52.0 -4.3 -27.1 -6.5 -11.5 5.9 138.4 -143.9 -46.6 -222.9 160.5 7

 8 Liabilities, net -46.8 -4.2 -32.0 -7.8 -12.0 5.2 140.6 -145.5 -48.4 -229.2 170.1 8

 9 U.S.-chartered commercial banks -31.1 13.6 23.0 45.0 28.8 42.3 169.5 -54.7 -41.9 -13.5 42.5 9

10 Due to foreign affiliates -1.9 46.3 23.6 34.5 76.2 67.8 232.3 -9.1 13.8 -158.4 48.4 10

11 - Due from foreign affiliates 29.2 32.7 0.5 -10.5 47.4 25.5 62.8 45.6 55.8 -144.9 6.0 11

12 Foreign banking offices in U.S. -11.5 -18.5 -55.7 -48.6 -58.0 -119.1 -21.0 -78.8 -13.1 -133.9 -11.0 12

13 Due to foreign affiliates 10.6 -10.7 33.3 8.4 -8.4 41.4 -100.9 -86.2 112.0 79.8 -79.5 13

14 - Due from foreign affiliates 22.1 7.8 88.9 57.0 49.6 160.5 -79.8 -7.4 125.1 213.7 -68.5 14

15 Bank holding companies -4.1 0.8 0.6 -4.3 17.2 82.0 -7.9 -12.0 6.6 -81.8 138.7 15

16 Due to foreign affiliates -0.2 0.3 -0.1 5.5 -8.3 -33.4 0.0 0.0 0.0 34.1 161.2 16

17 - Due from foreign affiliates 3.9 -0.4 -0.7 9.7 -25.5 -115.4 7.9 12.0 -6.6 115.9 22.5 17

18 Less: Deposits at foreign banks 5.2 0.2 -5.0 -1.3 -0.5 -0.7 2.2 -1.6 -1.8 -6.2 9.6 18

19 U.S.-chartered commercial banks 5.2 1.0 -1.0 -1.3 -1.0 -0.4 0.9 -2.2 -2.4 -4.3 8.8 19

20 Foreign banking offices in U.S. -0.0 -0.9 -4.0 -0.0 0.6 -0.2 1.3 0.6 0.6 -1.9 0.8 20

21 To U.S. banking, net -3.3 -19.9 3.4 3.5 17.4 25.3 5.4 -12.1 51.1 16.7 12.9 21

22 U.S.-chartered commercial banks -23.5 -6.7 -2.6 -12.1 -12.5 -11.6 1.9 18.8 -59.2 82.2 117.4 22

23 Liabilities -6.6 -14.7 6.0 19.6 8.4 -2.5 10.5 -20.1 45.8 27.0 -58.6 23

24 To foreign offices in U.S. -3.0 5.4 2.1 16.4 -8.9 -27.2 4.2 -6.9 -5.5 9.9 -74.3 24

25 To bank holding companies -0.3 -0.2 0.6 -0.3 -0.1 -0.6 1.0 -1.0 0.3 0.4 2.9 25

26 Unallocated -3.3 -19.9 3.4 3.5 17.4 25.3 5.4 -12.1 51.1 16.7 12.9 26

 Less, due from:

27 Foreign offices in U.S. 6.0 -7.4 -1.6 23.7 8.1 -33.5 2.6 -23.8 87.2 -22.0 7.5 27

28 Bank holding companies 10.9 -0.6 10.2 8.0 12.9 42.7 6.0 -15.0 17.7 -33.2 -183.5 28

29 Foreign banking offices in U.S. 9.0 -12.7 -3.7 7.4 17.0 -6.4 -1.6 -16.9 92.8 -31.9 81.8 29

30 Due to U.S. banks 6.0 -7.4 -1.6 23.7 8.1 -33.5 2.6 -23.8 87.2 -22.0 7.5 30

31 - Due from U.S. banks -3.0 5.4 2.1 16.4 -8.9 -27.2 4.2 -6.9 -5.5 9.9 -74.3 31

32 Bank holding companies 11.2 -0.4 9.6 8.2 12.9 43.3 5.0 -14.1 17.5 -33.6 -186.3 32

33 Due to U.S. banks 10.9 -0.6 10.2 8.0 12.9 42.7 6.0 -15.0 17.7 -33.2 -183.5 33

34 - Due from U.S. banks -0.3 -0.2 0.6 -0.3 -0.1 -0.6 1.0 -1.0 0.3 0.4 2.9 34

35 Net change in assets -48.3 0.2 -35.6 14.0 -37.7 -98.2 146.5 -158.4 -40.5 -219.1 164.1 35

36 Rest of the world -52.0 -4.3 -27.1 -6.5 -11.5 5.9 138.4 -143.9 -46.6 -222.9 160.5 36

37 Domestic 3.7 4.5 -8.6 20.5 -26.1 -104.1 8.1 -14.6 6.1 3.8 3.5 37

38 Monetary authority 4.1 -1.6 -1.1 -1.7 1.0 0.1 1.9 1.0 1.1 -3.2 -1.7 38

39 Federal Reserve float 4.2 -3.6 0.9 -1.9 1.1 0.1 0.8 1.5 2.1 -2.9 -2.2 39

40 Loans to member banks -0.1 2.0 -2.0 0.2 -0.1 0.0 1.1 -0.6 -1.0 -0.4 0.5 40

41 Commercial banking -0.0 6.6 -7.6 22.1 -26.1 -102.4 6.1 -13.7 5.5 7.1 5.2 41

42 Reserves at Federal Reserve -4.6 6.8 -4.6 -2.4 -4.0 -3.3 0.4 -2.8 -10.1 14.7 1.5 42

43 Vault cash 4.6 -0.2 -2.9 24.5 -22.2 -99.1 5.7 -10.9 15.7 -7.6 3.7 43

44 Savings insts.: Reserves at Fed. Res. -0.5 -0.5 0.1 0.1 -1.0 -1.8 0.1 -1.9 -0.5 0.0 0.0 44

45 Discrepancy--floats, etc. -3.3 -19.9 3.4 3.5 17.4 25.3 5.4 -12.1 51.1 16.7 12.9 45
Z.1, September 18, 2001 39

F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 15.7 41.2 47.4 151.4 -71.5 -206.8 -33.8 5.0 -50.2 90.3 101.0 1

 2 Monetary authority 23.3 29.9 38.3 108.7 -35.3 -187.8 27.5 23.3 -4.1 48.8 50.0 2

 3 Federal government cash and deposits 1.7 -2.3 0.5 22.3 -22.9 -91.0 -19.5 30.4 -11.5 5.9 -17.7 3

 4 Deposits due to foreign -0.2 0.3 -0.3 -0.1 0.1 0.2 -0.1 0.1 0.3 -0.6 0.1 4

 5 Currency outside banks 21.8 31.9 38.0 86.4 -12.5 -97.0 47.1 -7.2 7.1 43.5 67.6 5

 6 Commercial banking -34.6 -19.8 -33.4 3.2 -85.2 -87.9 -100.7 -60.8 -91.4 -25.5 1.8 6

 7 Federal government deposits 9.7 -0.9 -14.6 36.4 -33.2 -30.5 -22.6 -17.3 -62.3 4.3 -0.1 7

 8 Deposits due to foreign 2.8 4.8 -1.5 13.4 -9.5 -54.7 5.9 4.8 6.0 2.7 -4.1 8

 9 Private domestic deposits -47.1 -23.7 -17.3 -46.6 -42.6 -2.7 -84.1 -48.3 -35.2 -32.4 6.0 9

10 Savings institutions 25.4 27.1 36.1 37.2 43.1 45.2 42.8 40.6 43.9 51.1 53.2 10

11 Credit unions 1.6 4.1 6.4 2.3 5.9 23.7 -3.5 1.9 1.4 15.8 -4.0 11

12 Net change in assets 15.7 41.2 47.4 151.4 -71.5 -206.8 -33.8 5.0 -50.2 90.3 101.0 12

13 Household sector -70.8 -56.9 -8.3 -81.4 -47.4 -30.8 -102.6 -11.0 -45.1 60.7 62.8 13

14 Nonfinancial business 56.1 53.2 48.9 98.9 54.3 101.5 89.2 41.1 -14.7 -63.3 -17.9 14

15 Corporate 36.8 30.7 14.9 74.7 29.9 77.3 46.6 25.7 -29.9 -82.8 -38.3 15

16 Nonfarm noncorporate 19.3 22.2 32.1 25.0 25.0 25.0 43.4 15.9 15.7 20.0 20.8 16

17 Farm -0.0 0.2 1.9 -0.8 -0.6 -0.8 -0.8 -0.4 -0.5 -0.5 -0.4 17

18 State and local governments -5.5 4.4 -3.9 3.9 1.0 -5.9 -7.2 0.2 17.0 2.3 5.3 18

19 Federal government 11.0 -0.5 -16.7 66.2 -65.1 -140.3 -58.3 10.0 -71.7 40.1 -31.6 19

20 Rest of the world 19.9 29.9 14.8 39.9 -8.2 -81.9 9.8 8.0 31.3 11.3 7.1 20

21 Checkable deposits 2.6 5.1 -1.8 13.3 -9.3 -54.5 5.9 5.0 6.4 2.1 -4.0 21

22 Currency 17.4 24.8 16.6 26.6 1.1 -27.4 4.0 3.0 24.9 9.2 11.1 22

23 Financial sectors 8.5 17.8 13.0 32.2 -16.7 -69.0 17.6 -48.3 32.7 65.3 57.5 23

24 Commercial banking -0.2 -0.1 0.6 0.3 -0.5 -1.3 0.6 -2.6 1.2 0.6 -0.6 24

25 Savings institutions -1.3 1.0 3.2 1.7 -0.4 -15.3 4.7 -0.1 9.0 -0.2 8.2 25

26 Credit unions 0.1 0.6 1.0 17.3 -14.2 1.1 0.9 -28.7 -30.2 12.7 25.5 26

27 Bank personal trusts and estates 0.3 0.0 -0.5 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 27

28 Life insurance companies -0.9 3.8 -2.7 0.0 -0.5 -5.6 6.4 -7.9 5.2 51.5 -11.1 28

29 Other insurance companies -0.9 0.3 -0.2 0.2 -0.6 -4.5 -1.7 1.4 2.4 27.5 -4.0 29

30 Private pension funds 0.6 1.3 0.2 1.2 0.7 0.5 0.5 1.3 0.4 1.0 0.3 30

31 State and local govt. retirement funds 3.3 -2.2 4.7 -0.7 -0.1 7.4 5.5 -1.7 -11.7 -7.6 3.1 31

32 Money market mutual funds 2.4 2.6 -2.6 -1.2 4.5 -3.2 -2.4 14.7 8.8 -24.4 4.2 32

33 Government-sponsored enterprises -0.8 1.2 2.5 7.4 -9.7 -44.2 2.1 -0.7 4.3 -0.3 2.6 33

34 Finance companies 1.9 2.1 2.3 2.5 2.6 2.6 2.6 2.7 2.7 2.8 2.8 34

35 REITs 2.2 1.1 0.8 0.3 -0.0 0.4 -1.2 -1.4 2.0 -1.0 2.1 35

36 Brokers and dealers 1.9 6.0 3.7 3.3 1.6 -6.7 -0.7 -24.9 38.7 2.6 24.3 36

37 Mail float -3.6 -6.6 -0.5 -8.2 10.7 19.7 17.7 5.0 0.3 -26.1 17.7 37
40 Z.1, September 18, 2001

F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 211.3 219.6 244.5 175.3 309.1 258.7 224.2 377.4 376.0 418.9 259.0 1

 2 Small time and savings deposits 97.2 97.1 152.4 44.7 190.7 104.6 123.0 224.5 310.8 288.3 193.1 2

 3 Commercial banking 123.1 148.3 183.7 71.3 213.3 145.6 159.7 213.0 334.8 222.2 196.6 3

 4 U.S.-chartered commercial banks 122.8 143.9 186.3 72.4 210.4 146.6 155.3 215.5 324.3 228.0 168.9 4

 5 Foreign banking offices in U.S. 0.1 4.4 -3.6 -1.9 1.4 -1.3 1.8 -4.7 10.0 -5.2 23.2 5

 6 Banks in U.S.-affiliated areas 0.2 -0.0 1.0 0.8 1.4 0.4 2.5 2.3 0.5 -0.6 4.4 6

 7 Savings institutions -38.1 -64.4 -54.3 -38.9 -35.5 -47.4 -35.1 -19.0 -40.7 6.7 -37.5 7

 8 Credit unions 12.3 13.2 23.1 12.3 13.0 6.4 -1.6 30.5 16.7 59.4 34.0 8

 9 Large time deposits (1) 114.0 122.5 92.1 130.6 118.4 154.1 101.2 152.9 65.2 130.6 65.9 9

10 Commercial banking 105.3 107.9 72.3 119.0 94.9 128.8 86.5 122.6 41.8 87.8 34.9 10

11 U.S.-chartered commercial banks 49.5 63.2 34.8 61.5 87.9 91.7 141.6 73.7 44.6 17.7 25.6 11

12 Foreign banking offices in U.S. 55.6 44.7 36.5 56.7 5.6 36.7 -57.6 46.6 -3.4 70.6 4.9 12

13 Banks in U.S.-affiliated areas 0.2 -0.0 1.0 0.8 1.4 0.4 2.5 2.3 0.5 -0.6 4.4 13

14 Savings institutions 6.3 11.7 15.7 8.5 19.9 27.3 9.0 32.3 11.0 40.9 16.1 14

15 Credit unions 2.4 2.9 4.1 3.1 3.5 -2.0 5.7 -2.0 12.4 2.0 14.9 15

16 Net change in assets 211.3 219.6 244.5 175.3 309.1 258.7 224.2 377.4 376.0 418.9 259.0 16

17 Household sector 152.6 158.8 191.9 111.7 311.4 312.1 324.5 347.5 261.6 306.5 256.3 17

18 Nonfinancial business 4.2 3.4 4.1 14.0 2.9 -23.1 11.0 5.3 18.4 6.0 6.4 18

19 Corporate 0.7 -7.3 -5.0 4.0 -1.1 -27.1 3.3 4.1 15.2 1.0 1.0 19

20 Nonfarm noncorporate 3.5 10.7 9.1 10.0 4.0 4.0 7.7 1.2 3.1 5.0 5.4 20

21 State and local governments 10.6 5.8 12.8 10.9 9.4 -18.4 20.3 7.0 28.9 -11.5 -1.8 21

22 Federal government 1.4 1.0 1.3 0.7 1.0 0.4 1.0 2.1 0.4 8.2 5.9 22

23 Rest of the world 10.9 13.1 13.0 15.0 5.7 -9.5 1.4 -6.4 37.2 -40.3 2.6 23

24 Financial sectors 31.5 37.5 21.5 23.0 -21.3 -2.7 -134.0 21.9 29.7 150.0 -10.4 24

25 Savings institutions 0.3 -0.4 0.5 -0.1 0.1 2.4 -2.4 -0.8 1.2 1.2 2.6 25

26 Credit unions -0.7 0.6 6.4 -6.8 0.5 2.6 -8.7 -0.7 8.6 6.1 -6.3 26

27 Bank personal trusts and estates -1.6 1.0 -2.1 0.9 0.6 1.0 0.8 0.4 0.3 0.5 0.3 27

28 Private pension funds 5.3 7.5 1.5 -4.0 2.0 -0.7 5.4 -0.8 4.0 -3.9 -4.4 28

29 State and local govt. retirement funds -2.2 0.1 -0.4 -0.3 -0.6 2.9 1.3 6.9 -13.5 -1.0 4.7 29

30 Money market mutual funds 30.4 28.6 15.7 33.3 -23.8 -10.8 -130.3 16.9 29.0 147.1 -7.3 30

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues 145.4 155.9 287.2 249.1 233.3 239.7 71.5 250.9 371.1 621.4 322.5 1

 2 Net purchases 145.4 155.9 287.2 249.1 233.3 239.7 71.5 250.9 371.1 621.4 322.5 2

 3 Household sector 50.5 79.9 164.9 124.5 131.3 209.1 80.1 57.8 178.3 253.0 -44.6 3

 4 Nonfinancial corporate business 7.7 20.2 26.5 23.1 40.4 7.9 2.9 63.4 87.4 130.2 112.6 4

 5 Nonfarm noncorporate business 2.2 3.7 9.7 10.0 10.0 2.0 0.7 15.7 21.6 28.0 28.0 5

 6 Bank personal trusts and estates 7.8 -4.0 8.8 7.5 3.7 3.2 4.4 2.8 4.3 3.4 4.0 6

 7 Life insurance companies 39.1 32.6 17.6 23.4 8.5 5.3 -5.7 11.8 22.6 89.5 88.2 7

 8 Private pension funds 10.8 13.1 1.9 11.7 5.9 1.8 0.3 12.1 9.4 9.7 10.0 8

 9 Funding corporations 27.3 10.4 57.9 48.9 33.5 10.5 -11.2 87.4 47.3 107.6 124.2 9
Z.1, September 18, 2001 41

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 41.4 120.9 91.3 169.7 110.9 275.0 155.2 278.0 -264.6 11.2 155.2 1

 2 Commercial banking (net) 41.0 89.0 87.0 110.6 63.6 133.1 198.9 59.2 -137.0 74.3 -58.2 2

 3 U.S.-chartered commercial banks 28.7 63.4 66.8 128.7 12.8 124.6 137.8 -33.2 -178.1 45.1 59.6 3

 4 Foreign banking offices in U.S. 12.0 25.6 19.7 -18.3 52.4 7.6 59.3 92.8 49.8 22.1 -118.3 4

 5 Bank holding companies 0.4 0.0 0.5 0.1 -1.6 0.8 1.8 -0.4 -8.7 7.0 0.5 5

 6 Savings institutions -0.9 -1.9 9.5 21.4 -6.1 3.2 6.0 24.6 -58.1 1.8 9.9 6

 7 REITs 2.8 11.2 -9.8 0.5 -3.8 -10.7 -7.2 4.5 -1.8 4.9 7.8 7

 8 Brokers and dealers (net) -1.5 22.7 4.5 37.2 57.2 149.4 -42.6 189.7 -67.8 -69.8 195.7 8

 9 Net change in assets 39.1 57.8 30.7 139.7 0.0 -291.4 103.2 150.6 37.7 152.6 34.0 9

10 Nonfinancial corporate business 1.5 0.7 -0.4 1.1 -0.1 3.1 -7.7 -0.9 5.0 -2.2 -2.6 10

11 State and local governments 32.1 3.6 7.2 5.0 9.7 51.3 -9.4 12.0 -15.0 19.0 17.2 11

12 Rest of the world 3.2 20.0 -18.8 14.8 5.1 -43.2 48.5 20.6 -5.6 97.1 13.5 12

13 Financial sectors 2.3 33.6 42.7 118.7 -14.6 -302.6 71.8 118.9 53.3 38.7 5.9 13

14 Monetary authority 7.7 2.3 6.5 110.3 -97.3 -402.8 26.9 -27.6 14.5 -15.1 24.2 14

15 Savings institutions -1.2 -0.8 5.5 -4.2 4.3 3.7 2.0 10.7 0.7 27.1 1.3 15

16 Credit unions -4.9 2.0 3.4 2.4 -5.3 -11.4 -18.9 31.8 -22.7 16.0 -1.5 16

17 Other insurance companies -2.1 -0.2 7.4 -14.4 10.0 26.1 1.9 2.0 10.0 -42.0 5.0 17

18 Private pension funds 4.6 0.9 1.0 0.4 0.9 0.5 0.5 1.3 1.3 -3.6 1.3 18

19 State and local govt. retirement funds -3.3 0.4 8.9 2.8 4.3 20.1 5.8 -6.8 -1.8 -8.7 -4.1 19

20 Money market mutual funds 16.0 22.8 12.9 0.1 43.4 55.1 31.9 16.6 69.9 71.5 -5.6 20

21 Mutual funds -2.7 10.3 10.4 8.5 26.7 2.6 60.6 39.6 3.8 -67.0 18.4 21

22 Government-sponsored enterprises -11.8 -4.1 -13.4 12.7 -1.7 3.4 -39.0 51.4 -22.5 60.4 -33.1 22

23 Discrepancy--unallocated assets 2.4 63.2 60.6 30.0 110.9 566.4 52.0 127.4 -302.3 -141.4 121.2 23

F.208 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total net issues, all types 102.6 184.1 193.1 229.9 207.6 202.1 259.1 169.7 199.3 -367.2 -232.5 1

 2 Commercial paper 101.6 186.8 202.5 232.8 208.2 200.6 258.5 171.9 201.8 -366.5 -227.9 2

 3 Nonfinancial corporate business -0.9 13.7 24.4 37.4 48.1 29.8 110.4 56.1 -4.0 -207.2 -141.5 3

 4 Foreign issues in U.S. 11.3 3.7 7.8 16.3 31.7 57.8 12.0 7.0 50.1 -25.4 -5.6 4

 5 Nonfinancial -1.9 -2.3 -1.6 8.2 10.9 36.6 19.7 -13.8 1.2 -31.7 -24.6 5

 6 Financial 13.2 6.0 9.4 8.1 20.8 21.2 -7.6 20.9 48.9 6.3 19.0 6

 7 Financial sectors 91.3 169.4 170.3 179.2 128.4 113.1 136.0 108.8 155.7 -133.9 -80.8 7

 8 Commercial banking 1.9 6.0 7.8 9.1 1.2 -14.9 6.7 6.8 6.3 30.5 -2.8 8

 9 ABS issuers 45.4 89.4 125.7 139.0 121.0 136.5 125.5 102.3 119.9 84.6 96.8 9

10 Finance companies 9.0 23.9 30.0 -3.7 7.3 10.7 24.2 -54.7 49.1 -227.8 7.4 10

11 REITs 0.0 0.0 0.2 -0.1 0.0 0.0 3.5 -3.4 0.0 -0.2 -0.5 11

12 Funding corporations 34.9 50.1 6.7 34.8 -1.2 -19.2 -23.8 57.9 -19.6 -21.0 -181.8 12

13 Bankers acceptances (1) 1.0 -2.7 -9.4 -2.9 -0.7 1.5 0.6 -2.3 -2.5 -0.7 -4.6 13

14 Net purchases, by sector 102.6 184.1 193.1 229.9 207.6 202.1 259.1 169.7 199.3 -367.2 -232.5 14

15 Household sector 6.7 1.5 7.5 4.0 5.0 5.0 5.0 5.0 5.0 -22.0 -18.0 15

16 Nonfinancial corporate business 11.4 4.6 3.3 4.3 -0.4 -6.1 -0.1 7.5 -3.0 13.9 -10.3 16

17 State and local governments 20.3 14.3 28.0 1.9 7.6 6.9 17.5 -4.0 10.0 4.0 -17.2 17

18 Rest of the world 14.4 19.9 37.6 -13.0 8.7 -9.4 -7.2 -14.3 65.6 -4.1 12.8 18

19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Commercial banking (1) 0.8 -0.8 -0.2 0.3 0.1 0.4 -0.4 -0.1 0.7 0.1 0.0 20

21 Savings institutions 0.1 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Credit unions -0.3 -0.1 0.2 1.5 -0.6 -4.1 -2.0 3.6 -0.0 -0.4 1.8 22

23 Bank personal trusts and estates -2.6 -0.2 -4.5 0.6 0.6 0.7 0.4 0.8 0.5 -4.2 -3.7 23

24 Life insurance companies 2.9 17.5 7.5 2.0 -4.5 -15.1 12.2 -3.1 -12.2 -41.1 -21.6 24

25 Private pension funds 5.6 1.2 2.9 3.7 -1.8 -7.6 0.4 1.2 -1.2 -13.2 -8.5 25

26 State and local govt. retirement funds -3.3 0.4 8.9 2.8 4.3 20.1 5.8 -6.8 -1.8 -8.7 -4.1 26

27 Money market mutual funds 38.4 62.1 78.2 104.7 95.5 131.5 -13.0 134.2 129.1 3.3 17.1 27

28 Mutual funds -3.1 10.6 10.4 8.5 26.7 13.2 43.2 31.3 19.0 -53.5 -15.6 28

29 Government-sponsored enterprises 9.6 -1.1 26.9 -27.1 16.8 17.0 -13.1 29.7 33.4 -48.9 40.1 29

30 Brokers and dealers 1.6 0.6 3.8 -2.0 13.2 16.9 32.1 28.8 -24.9 21.7 0.8 30

31 Funding corporations -0.2 53.8 -17.4 137.6 36.5 32.8 178.4 -44.1 -21.0 -214.1 -206.2 31

(1) Excludes banks’ holdings of own acceptances.
42 Z.1, September 18, 2001

F.209 Treasury Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net issues 146.6 23.2 -54.6 -71.0 -294.9 -215.2 -410.5 -223.8 -330.2 -2.1 -217.1 1

 2 Savings bonds 2.0 -0.5 0.1 -0.2 -1.7 -3.5 -2.1 -0.9 -0.3 1.4 5.3 2

 3 Other Treasury issues 144.6 23.7 -54.7 -70.8 -293.2 -211.7 -408.5 -222.9 -329.9 -3.5 -222.5 3

 4 Net purchases 146.6 23.2 -54.6 -71.0 -294.9 -215.2 -410.5 -223.8 -330.2 -2.1 -217.1 4

 5 Household sector -45.4 -162.4 -85.2 -14.3 -164.3 -239.6 -239.3 -139.2 -38.9 -83.2 -4.9 5

 6 Savings bonds 2.0 -0.5 0.1 -0.2 -1.7 -3.5 -2.1 -0.9 -0.3 1.4 5.3 6

 7 Other Treasury issues -47.5 -161.9 -85.4 -14.1 -162.6 -236.1 -237.3 -138.3 -38.6 -84.6 -10.2 7

 8 Nonfinancial corporate business -10.0 -20.2 -3.2 -4.0 -3.7 8.2 8.0 -11.5 -19.4 -10.2 -13.5 8

 9 Nonfarm noncorporate business 5.2 4.1 6.1 -3.1 -10.2 -10.2 -15.0 -6.5 -9.1 -11.0 -11.0 9

10 State and local governments -32.8 -17.7 30.0 -2.5 -30.6 -37.5 -15.2 -45.7 -24.1 -48.5 -41.5 10

11 Rest of the world 270.7 139.7 38.7 -8.3 -63.0 27.4 -98.2 -86.0 -95.3 -2.0 -115.9 11

12 Monetary authority 12.7 39.8 21.4 25.8 33.7 102.1 -5.4 39.2 -0.9 54.2 26.4 12

13 Commercial banking -16.9 8.3 -56.1 12.7 -44.5 -86.3 -35.1 22.9 -79.6 -82.8 47.6 13

14 U.S.-chartered commercial banks -34.7 -6.1 -42.1 -1.9 -35.0 -32.2 -13.7 -6.5 -87.6 -104.4 13.8 14

15 Foreign banking offices in U.S. 18.4 14.4 -10.3 7.5 -0.6 -21.5 -21.5 29.9 10.7 24.5 33.6 15

16 Bank holding companies 0.6 -0.1 -3.1 7.9 -7.9 -31.4 0.6 0.1 -1.1 -0.3 0.7 16

17 Banks in U.S.-affiliated areas -1.3 0.1 -0.7 -0.7 -1.0 -1.2 -0.5 -0.6 -1.7 -2.6 -0.5 17

18 Savings institutions -1.0 -2.8 -4.4 -0.0 -1.4 -0.8 -3.3 -1.4 -0.2 -3.0 -2.1 18

19 Credit unions -0.9 -1.8 -2.5 -3.5 -1.4 -1.0 -2.1 -1.0 -1.5 -3.4 -3.3 19

20 Bank personal trusts and estates -1.8 -5.4 -3.1 -0.0 -0.8 -0.9 -0.9 -0.7 -0.7 -1.4 -1.2 20

21 Life insurance companies -14.9 1.6 -14.1 -9.3 -4.6 -4.0 -5.0 -4.1 -5.4 -17.3 -20.1 21

22 Other insurance companies -12.6 2.1 -20.8 -9.7 -8.6 -9.2 -9.3 -6.9 -8.8 -15.8 -16.0 22

23 Private pension funds -2.7 4.1 -4.4 -0.6 -0.8 -3.1 7.3 0.3 -7.7 -26.2 -8.2 23

24 State and local govt. retirement funds 11.8 13.4 0.8 -6.6 -15.5 -0.3 -2.5 -39.2 -19.8 -1.5 -17.3 24

25 Money market mutual funds 20.3 -4.0 17.5 0.1 -13.3 -7.5 -34.8 -0.1 -10.9 35.5 37.0 25

26 Mutual funds 8.9 11.0 5.2 6.2 4.0 -14.6 12.3 3.2 15.0 17.1 26.0 26

27 Closed-end funds 0.2 -1.2 -0.9 -1.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 27

28 Government-sponsored enterprises -12.9 7.1 -0.7 5.8 -8.9 -23.2 -18.0 -6.5 12.2 4.9 8.3 28

29 Brokers and dealers -31.1 7.5 21.2 -58.4 39.3 85.7 46.1 59.9 -34.5 192.6 -107.2 29

 Memo:

30 Federal government borrowing (1) 145.0 23.1 -52.6 -71.2 -295.9 -217.2 -408.7 -226.2 -331.3 -4.3 -216.0 30

(1) Total issues of Treasury securities (table F.209, line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 12).
Z.1, September 18, 2001 43

F.210 Agency Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net issues 229.8 212.8 472.9 591.7 432.5 222.4 382.9 512.4 612.4 430.4 672.3 1

 2 Budget agencies -1.6 -0.1 2.0 -0.2 -1.0 -2.1 1.8 -2.4 -1.2 -2.2 1.1 2

 3 Government-sponsored enterprises 90.4 98.4 278.3 318.2 234.1 104.9 248.9 278.1 304.5 262.3 264.7 3

 4 Federally related mortgage pools 141.0 114.6 192.6 273.8 199.4 119.5 132.2 236.7 309.1 170.3 406.5 4

 5 Net purchases 229.8 212.8 472.9 591.7 432.5 222.4 382.9 512.4 612.4 430.4 672.3 5

 6 Household sector 99.0 11.0 -74.8 95.4 4.2 -44.0 93.5 31.2 -64.0 -437.3 174.6 6

 7 Nonfinancial corporate business 5.1 -20.5 2.6 1.9 5.7 10.1 11.2 14.8 -13.4 12.4 2.2 7

 8 State and local governments -35.3 -0.8 63.6 28.5 23.5 23.1 26.9 24.0 20.0 27.8 22.7 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 41.7 49.8 56.7 92.1 152.7 136.5 117.3 171.4 185.7 168.9 142.8 10

11 Monetary authority -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 -0.0 -0.0 0.0 -0.5 0.0 11

12 Commercial banking 28.2 75.5 91.4 35.7 22.6 70.6 13.8 -30.1 36.2 -20.7 -73.0 12

13 U.S.-chartered commercial banks 15.3 60.4 81.6 29.3 18.2 75.3 15.3 -40.0 22.4 -30.9 12.5 13

14 Foreign banking offices in U.S. 12.4 12.5 4.8 4.3 0.6 -3.1 -4.0 2.2 7.5 13.4 -84.5 14

15 Bank holding companies 0.3 0.6 1.1 -1.3 -0.5 -2.4 0.9 0.4 -1.1 2.4 -1.4 15

16 Banks in U.S.-affiliated areas 0.2 2.0 3.9 3.3 4.3 0.8 1.6 7.3 7.4 -5.7 0.3 16

17 Savings institutions -8.5 -0.8 -11.7 3.7 -6.7 -20.2 -9.1 -1.5 4.1 19.4 21.0 17

18 Credit unions 4.9 0.4 7.3 2.9 -0.4 7.7 -1.1 -14.8 6.8 3.1 3.5 18

19 Bank personal trusts and estates 2.3 -4.7 -1.4 5.7 4.6 4.0 4.3 4.9 5.2 3.3 3.9 19

20 Life insurance companies 1.3 -3.0 -9.6 7.0 11.0 14.6 7.3 12.8 9.3 32.9 21.5 20

21 Other insurance companies 2.8 1.7 -1.2 5.9 8.6 7.9 7.5 10.9 7.9 4.3 10.0 21

22 Private pension funds -10.5 7.7 39.0 30.6 27.7 42.3 5.4 36.6 26.5 29.3 -5.9 22

23 State and local govt. retirement funds 5.5 18.4 19.1 22.9 32.6 -17.9 58.7 46.8 42.7 -7.5 16.1 23

24 Money market mutual funds 11.0 -5.5 77.5 17.1 -5.8 -72.9 -58.5 15.2 93.2 251.3 79.7 24

25 Mutual funds 6.2 8.4 21.0 6.3 6.3 -18.2 16.7 4.5 22.3 25.9 43.0 25

26 Government-sponsored enterprises 67.2 69.0 163.1 178.7 145.0 120.5 74.4 154.6 230.6 234.4 155.7 26

27 ABS issuers 4.9 3.6 38.2 41.3 2.8 21.6 -0.7 -1.9 -7.6 39.5 -43.9 27

28 REITs 3.2 9.0 -8.1 1.1 0.3 -0.4 -3.8 3.0 2.5 -2.6 14.3 28

29 Brokers and dealers 1.2 -4.8 0.5 15.0 -2.3 -62.7 19.2 30.1 4.3 46.4 84.2 29

(1) Agency securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as FNMA and FHLB;

 and federally related mortgage-backed securities issued by GNMA, FNMA, FHLMC, 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.209, line 30.
44 Z.1, September 18, 2001

F.211 Municipal Securities and Loans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 2.6 71.4 96.8 68.2 35.3 20.0 30.1 31.0 60.1 106.9 113.9 1

 2 State and local governments -7.2 57.3 79.1 52.7 28.2 14.5 19.8 25.1 53.4 99.7 109.7 2

 3 Short-term (1) 6.3 8.3 -6.3 3.6 3.2 4.4 8.4 -7.2 7.1 17.4 21.9 3

 4 Long-term -13.4 49.0 85.4 49.1 25.0 10.1 11.5 32.3 46.3 82.3 87.7 4

 5 Nonprofit organizations (2) 6.6 10.0 12.0 10.4 5.8 3.3 10.2 4.9 4.6 4.9 0.9 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) 3.1 4.2 5.8 5.1 1.4 2.2 0.1 1.0 2.1 2.3 3.3 6

 7 Net change in assets 2.6 71.4 96.8 68.2 35.3 20.0 30.1 31.0 60.1 106.9 113.9 7

 8 Household sector -22.2 52.5 17.8 40.2 14.5 30.4 -6.2 34.1 -0.5 56.2 24.5 8

 9 Nonfinancial corporate business -5.8 -3.6 -1.6 -3.4 10.8 6.3 49.6 -34.8 22.2 -4.0 5.0 9

10 Nonfarm noncorporate business 0.4 0.5 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 10

11 State and local governments -0.5 -0.7 -1.4 -1.5 0.6 -1.7 1.6 3.2 -0.8 2.1 -0.6 11

12 Commercial banking 0.9 2.4 8.2 5.8 3.4 7.6 3.1 1.6 1.1 -2.6 15.4 12

13 Savings institutions 0.1 0.0 0.4 0.5 0.2 0.3 -0.2 -0.0 0.6 2.9 0.3 13

14 Bank personal trusts and estates -4.3 -13.3 -1.1 10.8 4.7 7.2 3.6 5.2 3.0 3.1 2.0 14

15 Life insurance companies 1.5 0.1 1.7 1.7 -1.0 -0.5 -1.4 -0.9 -1.2 1.6 3.2 15

16 Other insurance companies 14.4 2.6 16.5 -9.1 -14.9 -17.0 -17.5 -9.1 -15.9 4.7 3.0 16

17 State and local govt. retirement funds -1.3 0.9 1.7 -0.2 -1.5 -0.5 -0.4 -2.5 -2.3 0.7 -1.0 17

18 Money market mutual funds 16.8 22.5 26.0 17.5 34.3 30.8 24.2 29.8 52.6 14.3 39.2 18

19 Mutual funds 3.1 6.5 22.8 -3.2 -8.9 -28.3 -17.9 2.0 8.5 22.0 15.0 19

20 Closed-end funds 1.3 -0.8 1.9 8.7 -4.6 -4.6 -4.6 -4.6 -4.6 -4.6 -4.6 20

21 Government-sponsored enterprises 0.0 -0.4 4.1 1.4 -1.8 -5.7 -0.1 3.0 -4.5 4.7 8.3 21

22 Brokers and dealers -1.9 2.4 -0.1 -1.2 -0.7 -4.4 -3.9 3.9 1.8 5.5 4.1 22

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

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).

F.212 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues 357.0 422.4 550.4 457.9 429.8 396.0 412.7 468.0 442.6 893.7 617.4 1

 2 Nonfinancial corporate business 116.3 150.5 218.7 229.9 175.0 186.2 153.8 184.4 175.6 403.7 423.7 2

 3 Rest of the world (1) 67.0 61.4 34.9 16.8 54.3 44.7 31.2 91.5 49.6 33.3 36.0 3

 4 Financial sectors 173.8 210.5 296.9 211.2 200.5 165.0 227.7 192.1 217.4 456.7 157.7 4

 5 Commercial banking 7.8 23.7 27.6 20.4 32.6 33.1 38.1 32.7 26.5 79.5 9.1 5

 6 Savings institutions -0.4 0.1 -0.2 0.2 3.5 -0.0 0.0 2.6 11.5 -14.0 14.5 6

 7 ABS issuers 105.4 112.9 195.7 84.4 75.2 38.4 20.6 53.9 188.0 205.3 75.0 7

 8 Finance companies 32.5 20.3 10.9 57.2 66.8 60.1 132.7 81.5 -6.9 151.9 11.2 8

 9 REITs 1.3 14.8 21.7 8.9 4.8 6.6 13.2 5.6 -6.3 12.2 -14.0 9

10 Brokers and dealers -2.0 8.1 7.2 -17.2 15.6 44.4 -0.7 25.4 -6.6 -23.7 35.6 10

11 Funding corporations 29.2 30.6 34.0 57.4 1.9 -17.6 23.8 -9.6 11.2 45.6 26.3 11

12 Net purchases 357.0 422.4 550.4 457.9 429.8 396.0 412.7 468.0 442.6 893.7 617.4 12

13 Household sector 71.4 77.2 83.5 16.5 2.0 -38.4 175.8 -92.2 -37.3 226.2 -163.4 13

14 State and local governments 10.7 1.3 10.2 12.6 3.7 6.1 4.7 1.6 2.4 11.5 7.2 14

15 Rest of the world (2) 83.7 84.6 122.2 160.8 183.1 178.3 169.1 185.6 199.4 280.2 279.6 15

16 Commercial banking 1.4 27.8 38.0 38.8 57.6 -22.9 19.3 138.0 96.0 52.1 142.3 16

17 Savings institutions -9.9 -9.9 29.9 23.3 -2.5 15.0 -20.5 -13.2 8.7 -54.0 -11.5 17

18 Bank personal trusts and estates -1.7 -0.8 -2.6 11.3 8.1 8.0 6.6 7.6 10.2 10.1 12.4 18

19 Life insurance companies 79.2 86.8 84.5 41.5 49.0 76.9 23.1 55.8 40.2 118.8 113.4 19

20 Other insurance companies 18.3 18.9 11.6 10.0 6.4 4.7 4.0 11.9 5.2 8.8 6.0 20

21 Private pension funds 2.9 33.8 17.1 9.3 14.5 13.2 10.2 25.1 9.6 34.7 41.7 21

22 State and local govt. retirement funds 22.2 33.1 35.1 30.4 29.7 61.1 -27.2 37.5 47.3 27.8 21.4 22

23 Money market mutual funds 2.4 12.5 44.8 42.5 38.2 79.7 -36.1 77.0 32.1 -1.1 -6.8 23

24 Mutual funds 33.8 44.4 65.5 29.3 -1.3 -19.0 8.7 9.2 -4.0 57.8 62.4 24

25 Closed-end funds 3.2 -0.5 4.5 -0.0 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 25

26 Government-sponsored enterprises 10.8 5.3 20.7 23.7 25.8 11.0 49.1 29.5 13.6 31.7 54.4 26

27 REITs 1.4 2.1 -0.4 -0.3 -0.4 -0.7 3.5 -3.1 -1.4 8.6 -9.0 27

28 Brokers and dealers 14.5 9.2 -18.6 12.0 19.3 66.3 -3.5 30.0 -15.7 45.3 32.0 28

29 Funding corporations 12.8 -3.4 4.5 -3.8 0.1 -40.0 29.4 -28.8 40.0 38.7 38.7 29

(1) Net purchases of foreign issues by U.S. residents.

(2) Net purchases of U.S. issues by foreign residents.
Z.1, September 18, 2001 45

F.213 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net issues -5.8 -83.3 -171.8 -42.1 -94.8 80.4 -68.7 -68.1 -322.7 73.6 143.8 1

 2 Nonfinancial corporate business -69.5 -114.4 -267.0 -143.5 -166.6 61.2 -245.2 -87.7 -394.8 -33.9 -35.2 2

 3 Rest of the world (2) 82.8 57.6 101.3 114.4 99.7 62.6 185.9 61.1 89.4 109.2 208.8 3

 4 Financial sectors -19.2 -26.5 -6.1 -13.0 -27.9 -43.4 -9.3 -41.5 -17.4 -1.8 -29.9 4

 5 Commercial banking -14.3 -27.7 -11.2 -10.6 -12.5 -26.1 -16.0 -2.8 -5.2 -8.1 -7.9 5

 6 Life insurance companies -8.8 -4.0 -4.7 -6.0 -0.8 -6.2 12.9 -4.9 -4.8 -5.8 -5.3 6

 7 Other insurance companies -4.8 -13.7 -4.7 -7.8 -4.5 -13.1 -1.5 -1.0 -2.4 -1.8 -2.0 7

 8 Closed-end funds 3.0 -7.7 -7.8 -2.8 -8.1 -8.1 -8.1 -8.1 -8.1 -8.1 -8.1 8

 9 REITs 12.3 32.5 19.8 6.6 2.2 2.6 2.0 1.4 3.0 1.4 3.2 9

10 Brokers and dealers -6.5 -5.9 2.5 7.6 -4.3 7.5 1.4 -26.0 0.1 20.6 -9.8 10

11 Net purchases -5.8 -83.3 -171.8 -42.1 -94.8 80.4 -68.7 -68.1 -322.7 73.6 143.8 11

12 Household sector -192.6 -293.4 -248.7 -264.4 -484.1 -558.9 -367.5 -430.7 -579.5 -297.6 -203.9 12

13 State and local governments 14.5 16.8 9.4 3.5 -1.2 -5.6 10.7 -4.1 -5.6 16.9 21.0 13

14 Rest of the world (3) 11.1 67.8 42.0 112.3 193.8 266.2 136.1 214.9 158.2 164.4 137.8 14

15 Commercial banking 1.8 0.6 1.3 1.2 0.3 0.8 0.9 1.3 -1.8 -1.5 -0.5 15

16 Savings institutions 0.6 0.2 1.5 -0.7 0.4 1.5 -1.3 1.5 0.1 4.7 3.0 16

17 Bank personal trusts and estates -17.3 -0.5 -70.4 -40.4 -20.0 -20.0 -20.0 -20.0 -20.0 -20.0 -20.0 17

18 Life insurance companies 46.7 86.3 115.3 111.9 105.9 126.4 127.1 97.7 72.5 93.6 78.0 18

19 Other insurance companies -6.8 3.0 -5.0 -1.7 0.7 -9.3 -11.8 -16.4 40.4 6.0 0.4 19

20 Private pension funds -71.5 -137.8 -113.0 -92.2 -80.8 -102.4 -62.4 -114.4 -44.2 -40.5 -46.2 20

21 State and local govt. retirement funds 18.2 9.4 -28.2 -6.2 -8.9 -27.9 8.0 -3.8 -11.9 7.8 6.9 21

22 Mutual funds 193.0 166.8 143.3 136.9 190.9 378.2 108.4 186.9 90.3 99.6 134.7 22

23 Closed-end funds -1.6 -5.1 -13.3 -10.2 0.4 0.4 0.4 0.4 0.4 0.4 0.4 23

24 Brokers and dealers -1.9 2.4 -6.0 7.7 7.7 31.1 2.8 18.6 -21.6 39.8 32.4 24

(1) Excludes mutual fund shares shown on table F.214.

(2) Net purchases of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Net purchases of U.S. issues by foreign residents.

F.214 Mutual Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues 237.6 265.1 274.6 188.3 243.9 307.3 232.0 279.4 156.7 96.4 283.8 1

 2 Net purchases 237.6 265.1 274.6 188.3 243.9 307.3 232.0 279.4 156.7 96.4 283.8 2

 3 Household sector 195.5 259.6 243.4 141.7 229.8 286.8 215.6 271.1 145.6 67.4 280.0 3

 4 Nonfinancial corporate business 3.3 -8.2 7.3 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 4

 5 State and local governments 6.0 -7.4 -12.3 4.3 0.8 -10.7 5.6 4.5 4.0 9.4 7.9 5

 6 Commercial banking 0.3 0.8 -0.4 1.2 2.5 5.1 -0.1 -0.3 5.4 13.6 -2.1 6

 7 Credit unions -0.3 -0.2 1.2 -1.1 -0.3 2.7 -3.8 -0.2 0.0 -0.9 6.4 7

 8 Bank personal trusts and estates 7.3 -14.9 27.0 -1.5 -30.5 -30.5 -30.5 -30.5 -30.5 -20.0 -20.0 8

 9 Life insurance companies 2.4 -7.2 -23.4 15.0 11.0 12.0 12.4 10.1 9.6 2.0 2.0 9

10 Private pension funds 23.0 42.7 31.7 30.7 32.4 43.7 34.8 26.6 24.5 26.8 11.5 10
46 Z.1, September 18, 2001

F.215 Bank Loans Not Elsewhere Classified

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 Total loans by commercial

 1 banking, flow of funds basis 174.2 234.7 253.4 200.1 370.4 529.0 512.4 262.6 177.6 280.5 -56.5 1

 - Loans elsewhere classified:

 2 Open market paper 0.8 -0.8 -0.2 0.3 0.1 0.4 -0.4 -0.1 0.7 0.1 0.0 2

 3 Mortgages 55.2 99.9 91.7 158.2 164.1 247.0 261.1 127.6 20.7 158.8 132.2 3

 4 Consumer credit 24.8 -14.2 -3.6 -9.2 41.7 39.5 55.7 53.9 17.8 13.7 54.4 4

 5 Security credit 1.3 21.7 20.5 -18.1 50.4 84.2 16.8 29.1 71.4 73.8 -86.7 5

 6 = Banking sector total bank loans n.e.c. 92.1 128.2 145.0 68.9 114.1 158.0 179.2 52.2 67.1 34.1 -156.5 6

 7 U.S.-chartered commercial banks 58.2 108.1 144.3 92.2 98.2 135.5 168.8 59.3 29.2 11.1 -92.8 7

 8 Foreign banking offices in U.S. 32.2 19.2 -1.9 -22.3 15.8 21.6 1.0 0.3 40.1 18.2 -64.7 8

 9 Bank holding companies 0.2 -0.0 1.7 -1.6 -0.9 -2.9 8.6 -9.0 -0.5 4.3 -0.2 9

10 Banks in U.S.-affiliated areas 1.4 0.9 0.9 0.5 1.1 3.8 0.8 1.6 -1.7 0.5 1.3 10

11 + Loans from Federal Reserve banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 = Total bank loans n.e.c. 92.1 128.2 145.0 68.9 114.1 158.0 179.2 52.2 67.1 34.1 -156.5 12

13 Net change in liabilities 92.1 128.2 145.0 68.9 114.1 158.0 179.2 52.2 67.1 34.1 -156.5 13

14 Nonfinancial sectors 79.5 115.0 115.0 83.3 114.4 154.9 169.0 62.1 71.5 6.3 -171.0 14

15 Household sector 0.6 8.1 6.3 -7.2 8.2 34.1 -5.9 7.4 -2.8 -18.1 -25.8 15

16 Corporate business 40.4 51.1 81.8 73.0 74.3 84.9 134.5 36.3 41.5 8.5 -95.7 16

17 Nonfarm noncorporate business 28.9 43.8 18.9 17.9 17.9 18.3 33.4 7.3 12.5 0.7 -20.2 17

18 Farm business 0.6 3.5 1.2 -0.9 2.7 2.2 1.2 -0.8 8.2 2.2 -2.3 18

19 Rest of the world 9.1 8.5 6.7 0.5 11.3 15.4 5.7 11.9 12.2 13.0 -26.9 19

20 Foreign official institutions 0.3 -0.8 0.8 0.2 0.5 -0.8 1.4 1.8 -0.3 0.4 -1.2 20

21 Foreign banks 3.4 -0.5 -0.7 -3.1 3.2 5.7 2.6 2.2 2.5 12.1 -28.3 21

22 Other foreign 5.4 9.8 6.7 3.5 7.5 10.6 1.7 7.9 9.9 0.5 2.6 22

23 Financial sectors 12.6 13.2 30.1 -14.3 -0.3 3.1 10.2 -9.9 -4.4 27.8 14.5 23

24 Savings institutions 1.4 3.5 10.3 -15.7 7.4 25.4 3.5 -1.9 2.7 4.6 -3.7 24

25 Finance companies 4.4 4.4 2.1 8.8 0.5 -17.2 20.8 2.8 -4.4 33.1 17.0 25

26 Mortgage companies 4.1 -4.6 1.6 0.2 0.1 -3.0 2.7 -0.3 1.0 0.7 0.6 26

27 REITs 2.7 9.9 16.0 -7.6 -8.3 -2.1 -16.9 -10.6 -3.7 -10.6 0.7 27
Z.1, September 18, 2001 47

F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total other loans and advances 62.5 102.8 158.5 162.0 145.3 233.6 246.9 -15.0 115.8 83.7 92.5 1

 2 U.S. government loans 0.0 9.6 14.4 5.9 8.2 10.3 7.6 5.8 9.1 7.0 9.9 2

 3 Liab.: Household sector 3.1 11.4 10.6 12.6 11.2 12.4 10.7 11.1 10.9 10.5 11.7 3

 4 Nonfinancial corporate business -1.3 -0.3 -0.1 -0.3 -0.4 -0.6 -0.4 -0.7 -0.0 0.3 -1.2 4

 5 Nonfarm noncorporate business -0.3 1.8 4.0 -0.9 -1.1 -0.3 -1.3 -1.2 -1.6 -2.6 -2.2 5

 6 Farm business -1.1 -0.5 -0.3 -0.3 0.1 0.2 -0.2 0.2 0.2 0.2 0.3 6

 7 State and local governments 0.4 -1.2 1.2 -0.4 -1.0 -1.6 -1.6 -1.3 0.4 0.4 0.4 7

 8 Rest of the world -0.7 -1.6 -1.0 -4.8 -0.6 0.3 0.4 -2.2 -0.8 -1.8 1.0 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Foreign loans to U.S. corporate business 3.9 17.3 -1.0 -22.7 -2.2 -17.6 16.9 -40.6 32.4 -32.2 24.6 10

11 Liab.: Nonfinancial corporate business 3.9 17.3 -1.0 -22.7 -2.2 -17.6 16.9 -40.6 32.4 -32.2 24.6 11

 Customers liability on acceptances

12 outstanding (Commercial banking asset) 1.0 -2.8 -9.3 -3.1 -0.7 2.0 0.7 -2.7 -2.9 0.0 -4.0 12

13 Liab.: Nonfinancial corporate business -0.7 -2.6 -4.3 -2.2 -0.0 2.8 -0.6 -3.2 0.8 9.9 -3.7 13

14 Rest of the world 1.8 -0.2 -5.0 -0.9 -0.7 -0.8 1.2 0.5 -3.7 -9.9 -0.3 14

15 Savings institution loans to business 3.0 3.1 5.3 6.5 8.7 11.2 7.8 10.1 5.7 8.2 9.6 15

16 Liab.: Nonfinancial corporate business 1.5 1.6 2.7 3.2 4.3 5.6 3.9 5.0 2.8 4.1 4.8 16

17 Nonfarm noncorporate business 1.5 1.6 2.7 3.2 4.3 5.6 3.9 5.0 2.8 4.1 4.8 17

18 Policy loans (Household liability) 4.5 3.2 0.1 -5.1 2.8 -1.3 3.6 5.8 3.2 4.0 0.8 18

19 Asset: Federal government 0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 0.0 19

20 Life insurance companies 4.5 3.2 0.1 -5.0 2.9 -1.3 3.6 5.8 3.2 4.0 0.8 20

21 Govt.-sponsored enterprises loans 28.8 31.2 92.3 113.6 41.3 79.0 119.9 -39.0 5.5 109.3 -0.6 21

22 Liab.: Household sector (SLMA) -0.6 -4.4 -1.2 5.6 -4.2 -8.9 -2.5 -11.4 6.0 2.3 4.8 22

23 Noncorporate business (FCS) -1.2 0.0 2.7 0.0 1.5 -3.2 4.6 2.7 2.0 -0.2 6.2 23

24 Farm business (FCS) 2.7 0.0 0.6 0.9 1.5 4.1 -1.4 1.3 2.3 -0.6 -0.5 24

25 Commercial banks (FHLB and SLMA) 2.3 19.1 46.9 40.6 26.8 58.6 53.9 6.2 -11.4 39.0 -17.4 25

26 Savings institutions (FHLB and SLMA) 24.5 16.2 42.1 63.5 16.3 32.1 65.5 -38.6 6.3 71.9 5.4 26

27 Credit unions (FHLB) 0.1 0.1 0.6 2.2 0.0 -2.9 0.9 1.1 1.0 -0.6 0.8 27

28 Life insurance companies (FHLB) 1.1 0.2 0.7 0.7 -0.7 -0.7 -1.1 -0.3 -0.7 -2.4 0.1 28

29 Securitized loans held by ABS issuers 13.3 32.2 27.6 9.2 21.2 44.9 4.6 -4.5 39.9 -0.7 5.0 29

30 Liab.: Households (1) 5.3 7.8 3.8 1.5 6.5 13.6 6.8 8.8 -3.3 2.5 -0.1 30

31 Nonfinancial corporate business 8.1 24.4 23.8 7.7 14.7 31.3 -2.3 -13.2 43.2 -3.2 5.1 31

32 Finance company loans to business 7.9 9.0 29.0 57.6 66.0 105.1 85.7 50.1 23.0 -11.8 47.2 32

33 Liab.: Nonfinancial corporate business 7.1 8.1 26.1 51.9 59.4 94.6 77.2 45.1 20.7 -10.6 42.4 33

34 Nonfarm noncorporate business 0.8 0.9 2.9 5.8 6.6 10.5 8.6 5.0 2.3 -1.2 4.7 34

(1) Student loans.
48 Z.1, September 18, 2001

F.217 Total Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in mortgages 285.3 332.5 510.9 601.0 573.2 505.9 664.6 571.0 551.3 555.6 839.4 1

 2 Home 242.9 252.6 384.2 429.5 417.2 356.2 484.6 435.9 392.3 431.5 613.9 2

 3 Multifamily residential 12.0 12.5 32.0 44.4 39.8 33.3 52.3 31.5 42.3 37.9 61.4 3

 4 Commercial 27.7 64.2 88.1 121.4 109.2 109.0 117.6 97.1 113.0 81.7 154.9 4

 5 Farm 2.7 3.1 6.5 5.8 6.9 7.4 10.1 6.5 3.8 4.5 9.1 5

 6 Net borrowing 285.3 332.5 510.9 601.0 573.2 505.9 664.6 571.0 551.3 555.6 839.4 6

 7 Household sector 230.2 233.4 355.0 394.2 380.4 318.1 451.9 395.4 356.2 385.2 595.8 7

 8 Nonfinancial business 47.3 84.2 131.1 201.8 186.6 180.7 202.7 169.6 193.3 177.9 227.5 8

 9 Corporate 6.5 33.4 16.8 66.3 63.0 68.6 57.3 52.7 73.3 52.9 86.2 9

10 Nonfarm noncorporate 38.2 47.7 107.7 129.7 116.7 104.8 135.4 110.4 116.2 120.5 132.2 10

11 Farm 2.7 3.1 6.5 5.8 6.9 7.4 10.1 6.5 3.8 4.5 9.1 11

12 Federal government -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 REITs 7.9 14.9 24.8 5.1 6.2 7.0 10.0 6.0 1.8 -7.5 16.0 13

14 Net change in assets 285.3 332.5 510.9 601.0 573.2 505.9 664.6 571.0 551.3 555.6 839.4 14

15 Household sector 0.1 0.1 0.9 -0.3 1.5 3.5 2.4 1.0 -0.7 0.2 0.5 15

16 Nonfinancial corporate business -3.6 25.9 -13.0 -7.0 -5.0 -5.0 -5.0 -5.0 -5.0 -5.0 -5.0 16

17 Nonfarm noncorporate business -1.4 -1.6 11.9 10.0 7.9 7.9 15.2 2.3 6.2 6.0 5.6 17

18 State and local governments 3.8 3.7 4.1 4.3 4.5 4.4 4.5 4.5 4.6 4.6 4.7 18

19 Federal government -7.2 -4.5 -0.8 -0.1 -0.9 -3.8 0.1 -1.3 1.6 -2.4 -0.6 19

20 Commercial banking 55.2 99.9 91.7 158.2 164.1 247.0 261.1 127.6 20.7 158.8 132.2 20

21 Savings institutions (1) 31.6 3.5 12.1 24.7 55.2 60.3 82.4 62.4 15.5 75.2 39.5 21

22 Credit unions 9.5 10.1 10.9 14.1 16.4 16.2 15.8 17.2 16.3 -1.1 12.5 22

23 Bank personal trusts and estates 0.3 -0.6 -0.2 -0.6 -0.1 -0.1 -0.2 -0.2 -0.1 -0.1 -0.0 23

24 Life insurance companies -5.0 -1.3 6.8 15.7 5.2 -5.7 13.0 8.5 4.8 -3.6 4.0 24

25 Other insurance companies -0.4 -0.2 -0.3 -0.0 -0.3 2.5 -2.8 -0.7 -0.2 0.0 -0.2 25

26 Private pension funds 0.6 0.7 1.9 1.9 1.7 2.1 1.4 1.7 1.4 1.5 1.2 26

27 State and local govt. retirement funds 0.8 0.9 6.5 -2.6 -0.0 0.9 -2.9 1.9 0.1 2.5 2.6 27

28 Government-sponsored enterprises (1) -6.1 -4.5 8.3 -4.3 22.7 6.8 38.6 17.3 28.0 11.6 36.3 28

29 Federally related mortgage pools 141.0 114.6 192.6 273.8 199.4 119.5 132.2 236.7 309.1 170.3 406.5 29

30 ABS issuers 48.1 80.7 156.5 92.0 85.2 54.4 74.2 83.5 128.6 115.3 179.6 30

31 Finance companies 10.2 5.3 14.4 24.2 21.8 16.0 31.4 17.4 22.3 22.2 23.0 31

32 Mortgage companies 8.2 -9.1 3.2 0.3 0.2 -6.0 5.5 -0.5 2.0 1.4 1.1 32

33 REITs -0.3 9.1 3.4 -3.3 -6.2 -15.2 -2.2 -3.5 -3.8 -1.9 -4.2 33

(1) FHLB loans to savings institutions are included in other loans and advances.
Z.1, September 18, 2001 49

F.218 Home Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net borrowing 242.9 252.6 384.2 429.5 417.2 356.2 484.6 435.9 392.3 431.5 613.9 1

 2 Household sector 225.5 234.7 345.7 383.7 377.3 321.8 438.9 391.9 356.7 385.1 572.1 2

 3 Nonfinancial corporate business 1.0 0.2 1.4 2.2 2.0 2.0 2.2 2.6 1.1 3.5 2.6 3

 4 Nonfarm noncorporate business 16.4 17.8 37.2 43.6 38.0 32.4 43.6 41.4 34.4 42.9 39.3 4

 5 Net change in assets 242.9 252.6 384.2 429.5 417.2 356.2 484.6 435.9 392.3 431.5 613.9 5

 6 Household sector -1.2 -1.1 -1.1 -1.1 -1.0 -1.1 -1.0 -1.0 -1.0 -1.0 -1.0 6

 7 Nonfinancial corporate business -9.3 5.3 -2.7 -1.4 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 -1.0 7

 8 Nonfarm noncorporate business -0.5 -0.6 4.5 3.8 3.0 3.0 5.7 0.9 2.3 2.2 2.1 8

 9 State and local governments 2.3 3.0 3.3 3.5 3.7 3.6 3.6 3.7 3.7 3.8 3.8 9

10 Federal government -3.0 -2.0 -0.3 -0.4 -0.7 -0.3 -0.2 -2.0 -0.4 -0.4 -0.6 10

11 Commercial banking 31.1 67.9 51.1 82.1 86.4 142.1 169.8 68.1 -34.2 93.8 70.2 11

12 Savings institutions 31.4 7.0 12.7 15.1 46.1 49.4 73.7 50.2 11.0 57.5 30.4 12

13 Credit unions 9.5 10.1 10.9 14.1 16.4 16.2 15.8 17.2 16.3 -1.1 12.5 13

14 Bank personal trusts and estates 0.3 -0.6 -0.2 -0.6 -0.1 -0.1 -0.2 -0.2 -0.1 -0.1 -0.0 14

15 Life insurance companies -1.9 0.2 -0.6 -0.7 -1.0 -1.5 -1.3 -1.3 -0.0 -0.1 -0.0 15

16 Private pension funds 0.6 0.8 1.3 1.4 1.5 1.6 1.3 1.5 1.4 1.5 1.4 16

17 State and local govt. retirement funds 0.6 0.6 2.8 -0.9 -0.0 0.3 -1.0 0.7 0.0 0.9 0.9 17

18 Government-sponsored enterprises -6.7 -4.2 5.3 -10.3 15.8 1.8 31.4 11.3 18.5 4.7 22.7 18

19 Federally related mortgage pools 135.4 109.3 182.1 264.6 190.9 113.0 124.5 228.9 297.0 157.2 387.4 19

20 ABS issuers 31.8 54.5 94.5 49.9 44.8 34.0 33.5 51.0 60.8 93.9 63.6 20

21 Finance companies 13.4 6.9 16.8 12.5 17.1 15.5 26.5 9.8 16.7 18.8 21.4 21

22 Mortgage companies 8.2 -10.2 3.1 0.3 0.2 -6.0 5.5 -0.6 1.9 1.4 1.0 22

23 REITs 1.1 6.0 0.8 -2.4 -4.6 -14.4 -1.9 -1.1 -0.8 -0.4 -0.8 23

 Memo:

24 Home equity loans included above (2) 46.0 72.3 54.9 50.4 92.4 75.5 111.5 89.6 93.0 60.0 89.9 24

25 Commercial banking 13.8 20.1 2.9 12.6 45.3 41.1 52.2 42.9 45.1 3.2 39.5 25

26 Savings institutions 1.7 3.2 0.5 3.8 13.1 10.3 10.5 13.7 18.0 1.7 14.2 26

27 Credit unions 2.6 3.5 0.7 3.7 7.3 9.3 7.7 9.3 2.9 2.7 3.2 27

28 ABS issuers 18.5 38.6 34.0 17.7 9.6 6.4 16.4 6.4 9.2 41.6 13.6 28

29 Finance companies 9.4 6.9 16.8 12.5 17.1 8.5 24.7 17.4 17.9 10.8 19.5 29

(1) Mortgages on 1-4 family properties.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by mortgage companies and individuals.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 12.0 12.5 32.0 44.4 39.8 33.3 52.3 31.5 42.3 37.9 61.4 1

 2 Nonfinancial corporate business 0.9 1.1 1.1 1.2 1.3 1.3 1.3 1.3 1.3 1.3 1.3 2

 3 Nonfarm noncorporate business 8.5 6.5 22.7 41.5 36.5 29.7 47.7 28.3 40.4 39.1 54.8 3

 4 Federal government -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 2.6 4.9 8.2 1.7 2.1 2.3 3.3 2.0 0.6 -2.5 5.3 5

 6 Net change in assets 12.0 12.5 32.0 44.4 39.8 33.3 52.3 31.5 42.3 37.9 61.4 6

 7 Household sector -0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 7

 8 Nonfinancial corporate business 0.7 0.6 -0.3 -0.2 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 8

 9 Nonfarm noncorporate business -0.5 -0.5 4.0 3.3 2.6 2.6 5.0 0.8 2.1 2.0 1.9 9

10 State and local governments 1.8 0.6 0.9 0.9 1.0 1.0 1.0 1.0 1.0 1.0 1.0 10

11 Federal government -2.9 -0.9 -0.3 -0.0 0.3 0.3 0.2 0.2 0.5 -2.4 0.2 11

12 Commercial banking 2.9 4.2 3.2 13.1 11.7 19.1 19.7 4.9 3.2 8.3 2.4 12

13 Savings institutions -0.4 -2.0 -2.5 2.3 1.9 -5.4 5.3 3.7 4.1 6.4 2.0 13

14 Life insurance companies 2.0 -0.3 1.1 1.1 0.9 -0.7 2.0 1.3 0.8 -0.5 -0.0 14

15 Private pension funds 0.0 -0.0 0.1 0.1 0.0 0.1 0.0 0.1 0.0 -0.0 -0.1 15

16 State and local govt. retirement funds 0.2 0.2 1.8 -0.7 -0.0 0.2 -0.8 0.5 0.0 0.7 0.7 16

17 Government-sponsored enterprises -0.5 -1.2 0.8 4.8 4.9 5.2 4.6 3.3 6.6 4.1 7.5 17

18 Federally related mortgage pools 5.6 5.3 10.5 9.2 8.5 6.5 7.7 7.8 12.0 13.1 19.2 18

19 ABS issuers 4.0 5.0 12.8 8.5 7.3 3.4 5.4 6.9 13.5 4.9 24.9 19

20 Finance companies -0.6 -0.2 -0.2 2.4 1.0 1.9 1.3 1.3 -0.7 1.1 1.6 20

21 Mortgage companies -0.1 1.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 21

22 REITs -0.4 0.9 0.1 -0.6 -0.2 -0.8 0.9 -0.3 -0.7 -0.7 0.2 22
50 Z.1, September 18, 2001

F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net borrowing 27.7 64.2 88.1 121.4 109.2 109.0 117.6 97.1 113.0 81.7 154.9 1

 2 Household sector 4.7 -1.2 9.4 10.4 3.1 -3.7 13.0 3.5 -0.6 0.2 23.7 2

 3 Nonfinancial corporate business 4.6 32.2 14.4 62.9 59.7 65.3 53.8 48.8 70.9 48.1 82.3 3

 4 Nonfarm noncorporate business 13.3 23.4 47.8 44.6 42.2 42.7 44.1 40.8 41.4 38.5 38.1 4

 5 REITs 5.3 10.0 16.6 3.4 4.2 4.7 6.7 4.1 1.2 -5.0 10.7 5

 6 Net change in assets 27.7 64.2 88.1 121.4 109.2 109.0 117.6 97.1 113.0 81.7 154.9 6

 7 Household sector 0.7 0.7 0.9 0.7 0.7 0.7 0.7 0.6 0.6 0.6 0.6 7

 8 Nonfinancial corporate business 5.1 20.0 -10.0 -5.4 -3.8 -3.8 -3.8 -3.8 -3.8 -3.8 -3.8 8

 9 Nonfarm noncorporate business -0.4 -0.4 3.1 2.6 2.1 2.1 4.0 0.6 1.6 1.6 1.5 9

10 State and local governments -0.2 0.2 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 10

11 Federal government -0.9 -0.7 0.1 0.6 -0.4 -3.5 0.1 0.5 1.5 0.7 -0.0 11

12 Commercial banking 20.2 25.7 35.3 60.1 63.8 82.4 68.9 53.6 50.2 55.4 57.6 12

13 Savings institutions 0.6 -1.5 1.9 7.2 7.1 16.2 3.3 8.5 0.4 11.1 7.1 13

14 Life insurance companies -5.6 -1.5 5.2 13.8 4.7 -3.6 10.8 7.2 4.4 -2.7 4.0 14

15 Other insurance companies -0.4 -0.2 -0.3 -0.0 -0.3 2.5 -2.8 -0.7 -0.2 0.0 -0.2 15

16 Private pension funds 0.0 -0.1 0.4 0.4 0.1 0.4 0.0 0.2 0.0 -0.0 -0.2 16

17 State and local govt. retirement funds -0.0 -0.0 1.9 -1.0 -0.0 0.3 -1.1 0.7 0.0 0.9 1.0 17

18 Federally related mortgage pools -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 ABS issuers 12.2 21.3 49.2 33.6 33.1 17.1 35.3 25.7 54.3 16.5 91.1 19

20 Finance companies -2.6 -1.4 -2.1 9.3 3.7 -1.5 3.6 6.3 6.3 2.2 -0.0 20

21 Mortgage companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 REITs -1.0 2.2 2.5 -0.4 -1.4 0.0 -1.2 -2.0 -2.4 -0.8 -3.6 22

F.221 Farm Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing (Farm business) 2.7 3.1 6.5 5.8 6.9 7.4 10.1 6.5 3.8 4.5 9.1 1

 2 Net change in assets 2.7 3.1 6.5 5.8 6.9 7.4 10.1 6.5 3.8 4.5 9.1 2

 3 Household sector 0.6 0.6 1.1 0.2 1.9 4.0 2.8 1.3 -0.4 0.6 0.9 3

 4 Nonfarm noncorporate business -0.0 -0.1 0.4 0.3 0.3 0.3 0.5 0.1 0.2 0.2 0.2 4

 5 State and local governments -0.1 -0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 5

 6 Federal government -0.5 -0.9 -0.3 -0.2 -0.1 -0.3 -0.1 -0.0 -0.1 -0.2 -0.1 6

 7 Commercial banking 1.1 2.1 2.0 2.8 2.2 3.5 2.7 1.0 1.5 1.3 2.0 7

 8 Savings institutions 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.1 0.1 8

 9 Life insurance companies 0.5 0.4 1.1 1.5 0.6 0.0 1.5 1.3 -0.4 -0.2 -0.0 9

10 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Government-sponsored enterprises 1.1 1.0 2.2 1.1 2.0 -0.2 2.6 2.7 2.9 2.8 6.1 11

12 Federally related mortgage pools -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12
Z.1, September 18, 2001 51

F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities (Households) 88.8 52.5 67.6 94.4 132.3 145.3 137.9 122.5 123.7 158.1 72.8 1

 2 Net change in assets 88.8 52.5 67.6 94.4 132.3 145.3 137.9 122.5 123.7 158.1 72.8 2

 3 Nonfinancial corporate business -7.3 1.2 -4.1 5.4 2.4 43.0 -1.8 -21.8 -10.0 33.6 -24.9 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Commercial banking 24.8 -14.2 -3.6 -9.2 41.7 39.5 55.7 53.9 17.8 13.7 54.4 5

 6 Savings institutions 4.6 2.5 4.4 9.9 3.0 -10.2 7.9 6.3 8.1 3.8 -0.7 6

 7 Credit unions 12.2 8.2 3.0 12.5 16.5 16.9 20.9 16.2 12.0 5.6 10.0 7

 8 ABS issuers 54.2 47.2 59.4 62.6 57.1 33.3 33.4 43.8 118.1 115.7 18.7 8

 9 Finance companies 0.3 7.6 8.5 13.1 11.6 22.9 21.7 24.1 -22.3 -14.3 15.4 9

F.223 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in trade payables 123.3 139.7 109.2 222.3 156.4 193.5 193.9 132.8 105.4 -21.8 -10.1 1

 2 Household sector 8.0 8.9 8.7 6.0 5.9 7.1 7.0 5.6 3.9 6.9 4.7 2

 3 Nonfinancial corporate business 49.5 65.1 57.6 144.4 92.1 113.7 94.4 113.0 47.4 -47.6 -41.8 3

 4 Nonfarm noncorporate business 30.6 31.0 23.1 25.5 22.4 26.0 33.2 14.3 16.1 12.8 11.2 4

 5 Farm business 1.3 1.4 0.8 0.4 0.9 1.1 1.6 -0.9 1.7 1.5 0.8 5

 6 State and local governments 30.9 31.4 30.5 29.1 27.4 33.2 25.4 25.4 25.5 24.8 25.0 6

 7 Federal government 0.7 -8.8 -8.0 0.7 1.2 3.2 -2.3 2.1 1.6 -12.3 -13.4 7

 8 Rest of the world -1.7 5.1 -2.4 4.3 1.6 -2.4 12.1 -12.7 9.2 -5.8 11.5 8

 9 Brokers and dealers 4.0 5.7 -1.0 11.9 5.0 11.6 22.6 -14.0 0.0 -2.2 -8.1 9

10 Net change in trade receivables 148.7 168.9 160.5 179.3 193.2 265.6 243.9 182.2 81.3 -48.6 -5.1 10

11 Nonfinancial corporate business 88.1 93.5 86.3 113.4 102.7 186.1 111.6 107.7 5.5 -118.8 -34.7 11

12 Nonfarm noncorporate business 29.5 35.1 40.7 45.8 40.8 40.8 78.3 17.0 27.1 20.0 14.0 12

13 Federal government 0.9 -3.2 1.5 4.6 5.3 6.0 7.2 4.3 3.7 9.9 1.9 13

14 Rest of the world 5.3 4.5 -7.5 -7.5 10.4 -1.6 3.9 9.1 30.2 6.4 -4.6 14

15 Other insurance companies -0.1 2.7 1.6 2.0 1.0 10.0 4.5 6.1 -16.5 12.1 4.0 15

16 ABS issuers 25.0 36.3 37.9 21.1 33.0 24.2 38.4 38.0 31.3 21.8 14.2 16

17 Discrepancy -25.4 -29.2 -51.3 42.9 -36.8 -72.1 -50.0 -49.4 24.1 26.7 -5.0 17

F.224 Security Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities 52.4 111.0 103.3 104.3 141.0 485.0 -91.4 94.7 75.6 -64.6 -82.9 1

 2 Household sector 15.8 36.8 21.6 75.2 5.8 217.9 -58.6 14.6 -150.9 -151.6 0.6 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 36.6 74.2 81.7 29.1 135.2 267.1 -32.8 80.1 226.5 87.0 -83.5 4

 5 Customer credit balances (HH) 35.3 52.6 61.2 47.2 84.9 182.9 -49.6 51.0 155.1 13.2 3.3 5

 6 From U.S.-chartered commercial banks -4.8 4.2 11.9 -8.7 7.1 35.8 -24.2 -11.6 28.5 30.0 6.2 6

 7 From foreign banking offices in U.S. 6.2 17.5 8.6 -9.4 43.2 48.4 41.0 40.7 42.9 43.8 -93.0 7

 8 Net change in assets 52.4 111.0 103.3 104.3 141.0 485.0 -91.4 94.7 75.6 -64.6 -82.9 8

 9 Household sector 35.3 52.6 61.2 47.2 84.9 182.9 -49.6 51.0 155.1 13.2 3.3 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Commercial banking 1.3 21.7 20.5 -18.1 50.4 84.2 16.8 29.1 71.4 73.8 -86.7 11

12 Brokers and dealers 15.8 36.8 21.6 75.2 5.8 217.9 -58.6 14.6 -150.9 -151.6 0.6 12
52 Z.1, September 18, 2001

F.225 Life Insurance and Pension Fund Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 Life insurance reserves:

 1 Net change in liabilities 44.5 59.3 48.0 50.8 50.2 54.9 45.6 53.0 47.3 52.7 59.7 1

 2 Federal government 0.6 1.7 1.3 1.4 1.4 1.2 2.6 0.2 1.8 0.6 2.4 2

 3 Life insurance companies 43.8 57.6 46.7 49.4 48.7 53.7 43.0 52.7 45.5 52.0 57.3 3

 4 Net change in assets (Households) 44.5 59.3 48.0 50.8 50.2 54.9 45.6 53.0 47.3 52.7 59.7 4

 Pension fund reserves:

 5 Net change in liabilities 148.3 201.4 202.1 184.5 216.9 210.8 260.8 227.1 169.0 255.6 196.7 5

 6 Federal government (1) 55.1 40.3 41.2 41.1 20.9 38.1 39.3 36.1 -29.9 117.5 44.5 6

 7 Life insurance companies 27.0 95.0 86.4 70.7 121.8 104.2 132.3 132.1 118.6 94.3 101.0 7

 8 Private pension funds (2) 5.5 -10.4 13.0 12.8 19.9 6.7 22.6 14.8 35.5 23.1 16.1 8

 9 State and local govt. retirement funds 60.8 76.5 61.5 59.9 54.3 61.8 66.6 44.1 44.8 20.8 35.1 9

10 Net change in assets (Households) (3) 148.3 201.4 202.1 184.5 216.9 210.8 260.8 227.1 169.0 255.6 196.7 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, military retirement fund, judicial retirement funds, and foreign service retirement and disability fund.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Excludes all individual retirement accounts (IRAs) (table F.225.i), except those at life insurance companies.

F.226 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in taxes payable by all 19.5 22.3 21.3 22.3 21.7 30.9 31.8 -1.6 25.9 0.6 2.0 1

 businesses

 2 Nonfinancial corporate business 9.6 9.3 4.8 7.0 7.0 16.3 16.3 -15.2 10.5 -6.8 -8.9 2

 3 Nonfarm noncorporate business 4.9 7.3 10.7 8.3 7.5 8.7 11.1 4.8 5.4 4.0 3.2 3

 4 U.S.-chartered commercial banks 1.2 1.4 1.7 1.9 2.1 2.1 2.1 2.2 2.2 2.3 2.4 4

 5 Savings institutions -0.1 0.4 0.2 0.0 0.4 -1.4 0.3 1.5 1.3 -0.7 -0.9 5

 6 Life insurance companies 0.5 1.2 1.2 1.3 1.6 1.4 1.6 1.6 1.8 1.8 1.9 6

 7 Other insurance companies 2.5 1.8 2.0 2.0 2.3 2.0 2.2 2.3 2.5 2.6 2.7 7

 8 Finance companies 0.8 0.8 0.8 0.8 1.0 0.9 0.9 1.0 1.0 1.1 1.1 8

 9 Brokers and dealers 0.1 0.1 -0.1 0.9 -0.1 0.9 -2.8 0.2 1.3 -3.5 0.5 9

10 Net change in business taxes receivable -3.5 -5.7 1.6 15.8 7.6 21.5 21.7 5.9 -18.6 -1.1 29.0 10

11 State and local governments -2.0 3.3 9.1 8.8 11.9 13.3 16.6 9.9 7.7 4.6 3.4 11

12 Federal government -1.6 -9.0 -7.5 7.0 -4.3 8.2 5.1 -4.0 -26.4 -5.7 25.6 12

13 Discrepancy 23.1 28.0 19.7 6.5 14.1 9.4 10.0 -7.5 44.5 1.7 -26.9 13

F.227 Investment in Bank Personal Trusts and Estates

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Liab.: Bank personal trusts and estates -5.3 -49.9 -41.8 -6.5 -29.7 -28.4 -33.1 -29.2 -28.0 -26.1 -22.7 1

 2 Asset: Household sector -5.3 -49.9 -41.8 -6.5 -29.7 -28.4 -33.1 -29.2 -28.0 -26.1 -22.7 2

F.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total household investment -31.6 -71.8 -74.0 -49.1 -30.7 -48.6 -28.8 -10.7 -34.9 -29.3 -13.0 1

 2 Nonfarm noncorporate business -46.1 -86.8 -79.1 -54.2 -44.3 -55.9 -36.8 -49.2 -35.3 -24.9 -32.0 2

 3 Farm business 2.2 0.0 -1.5 -8.0 -14.8 -22.1 -8.5 -8.7 -19.8 -6.7 -11.2 3

 4 Brokers and dealers 12.4 14.9 6.6 13.1 28.3 29.4 16.5 47.2 20.2 2.3 30.2 4
Z.1, September 18, 2001 53

F.229 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 525.0 490.6 1002.5 738.1 992.3 999.5 1089.7 1283.9 595.9 570.9 932.1 1

 2 Household sector 0.8 0.3 -1.4 2.1 0.1 -2.9 0.8 -0.6 3.2 -3.3 0.2 2

 3 Nonfinancial corporate business 225.2 22.1 430.7 268.4 329.0 269.2 370.0 352.3 324.6 212.8 33.4 3

 4 Nonfarm noncorporate business 29.7 56.5 74.3 50.1 46.1 46.1 46.2 41.1 51.1 34.7 35.6 4

 5 Federal government -3.3 0.3 -7.1 -2.9 2.0 -7.6 5.4 7.9 2.3 0.6 4.1 5

 6 Rest of the world 134.8 134.9 173.5 211.1 178.8 252.2 71.3 311.1 80.6 183.1 82.7 6

 7 Monetary authority -0.1 2.1 1.3 -1.3 1.1 -13.5 0.5 12.3 5.3 -21.6 -4.7 7

 8 Commercial banking 20.1 171.2 120.9 -68.3 184.7 56.0 285.3 293.3 104.1 -62.8 203.0 8

 9 Savings institutions -2.5 -2.1 -1.6 -14.4 17.1 -43.5 -9.6 36.8 84.8 -9.5 14.2 9

10 Credit unions 0.0 0.1 0.5 0.9 -0.4 -1.5 3.3 4.3 -7.8 -19.4 4.8 10

11 Life insurance companies 28.5 36.0 42.8 36.8 18.6 36.5 20.9 29.5 -12.3 60.9 31.4 11

12 Other insurance companies 12.3 10.7 5.6 12.4 5.9 7.4 20.1 17.9 -21.8 14.4 5.8 12

13 Government-sponsored enterprises 0.3 7.8 20.3 -6.0 7.4 18.0 -15.8 -7.6 35.0 82.1 -4.3 13

14 Finance companies 3.1 -12.9 17.8 72.7 82.2 148.5 -23.8 198.3 5.6 26.6 91.8 14

15 Mortgage companies 4.1 -4.6 1.6 0.2 0.1 -3.0 2.7 -0.3 1.0 0.7 0.6 15

16 REITs 2.5 8.8 13.6 4.4 1.8 -0.6 6.0 4.5 -2.6 18.9 -21.1 16

17 Brokers and dealers 28.4 21.6 44.7 7.2 -5.7 119.8 77.8 -0.5 -219.8 85.2 379.8 17

18 Funding corporations 41.0 37.5 64.9 164.9 123.4 118.4 228.6 -16.2 162.6 -32.5 74.9 18

19 Net change in assets 649.5 617.0 1140.2 1111.7 1354.7 1417.3 1442.4 1559.5 999.6 578.3 1223.2 19

20 Household sector 9.7 10.3 9.7 12.4 4.7 5.5 16.3 8.4 -11.5 3.2 2.9 20

21 Nonfinancial corporate business 264.9 38.6 449.6 429.1 400.1 573.4 437.5 340.6 249.0 260.8 199.3 21

22 Nonfarm noncorporate business 36.6 56.4 76.3 62.7 51.6 54.4 54.2 56.3 41.6 47.1 46.3 22

23 Farm business -0.1 0.4 0.5 0.2 -0.1 0.0 1.6 0.8 -2.7 0.6 1.2 23

24 State and local governments -8.1 -1.2 -9.7 7.7 12.3 18.7 -10.9 30.8 10.7 23.6 39.8 24

25 Federal government -6.7 -5.4 -3.5 -0.9 -1.4 -6.6 0.1 0.5 0.4 -0.5 0.9 25

26 Rest of the world 143.5 208.0 203.8 406.4 466.6 529.5 405.5 568.5 363.0 426.8 4.6 26

27 Monetary authority 2.4 1.3 4.9 -1.3 1.1 -2.8 -1.0 4.5 3.6 -4.9 2.8 27

28 Commercial banking 25.9 103.5 124.1 37.8 102.9 -46.1 185.7 189.4 82.5 -131.7 307.6 28

29 Savings institutions -1.8 -3.2 13.8 -2.5 7.4 -3.1 14.5 10.3 8.0 71.3 0.9 29

30 Credit unions -0.2 3.8 6.8 -16.3 15.4 -2.4 6.3 17.5 40.1 24.0 4.9 30

31 Bank personal trusts and estates 3.9 -1.4 8.4 -2.5 -1.5 -2.1 -2.8 -0.2 -0.9 -1.1 -0.7 31

32 Life insurance companies -31.4 -6.7 3.5 -34.6 20.7 15.2 17.6 43.8 6.2 -72.2 -31.8 32

33 Other insurance companies 3.6 6.1 6.9 4.2 7.5 5.2 10.5 9.2 5.3 7.6 1.6 33

34 Private pension funds 35.9 13.5 32.0 18.9 16.3 15.3 17.5 22.5 10.0 6.0 21.9 34

35 State and local govt. retirement funds 8.2 0.7 3.3 16.3 8.8 -5.0 13.3 10.6 16.3 15.4 5.4 35

36 Money market mutual funds 4.4 14.3 9.6 22.6 12.2 -17.1 222.3 -61.4 -95.2 36.7 175.1 36

37 Mutual funds -1.7 7.1 -3.9 -4.3 -0.5 -6.6 -0.0 2.9 1.8 -5.6 -0.2 37

38 Government-sponsored enterprises 6.8 7.1 0.7 5.0 19.2 -37.9 25.3 39.6 49.6 -56.3 0.4 38

39 Finance companies 22.0 18.9 16.1 48.5 25.0 -25.2 7.5 117.6 -0.2 -11.6 21.9 39

40 REITs -1.7 4.9 10.7 -0.1 0.0 1.7 -3.2 5.1 -3.6 2.8 3.9 40

41 Brokers and dealers 68.2 82.8 115.9 28.3 132.4 274.9 -7.5 124.5 137.8 -123.4 451.9 41

42 Funding corporations 65.2 57.3 60.7 74.4 54.0 78.3 32.1 17.6 87.8 59.9 -37.3 42

43 Discrepancy -124.5 -126.4 -137.7 -373.6 -362.4 -417.8 -352.7 -275.6 -403.7 -7.4 -291.1 43
54 Z.1, September 18, 2001

F.230 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world 91.9 104.8 142.5 155.4 152.4 153.6 133.4 166.5 156.3 163.8 142.4 1

 2 Equity 27.5 40.8 72.4 58.8 49.9 62.1 57.3 31.5 48.7 34.2 54.5 2

 3 Reinvested earnings 54.7 58.0 44.0 73.3 99.7 96.3 98.5 99.7 104.3 96.1 89.7 3

 4 Intercompany accounts 9.7 6.0 26.0 23.3 2.8 -4.9 -22.4 35.3 3.3 33.5 -1.8 4

 5 Asset: Nonfinancial corporate business 76.8 84.3 129.1 136.2 122.0 128.5 95.2 117.9 146.2 138.5 121.9 5

 6 Commercial banking 3.5 3.0 2.0 3.3 7.3 5.2 2.9 17.5 3.7 2.2 5.5 6

 7 Life insurance companies 0.8 1.8 0.7 2.6 1.9 3.7 1.9 3.3 -1.4 3.6 2.2 7

 8 Other insurance companies 3.6 6.1 6.9 4.2 7.5 5.2 10.5 9.2 5.3 7.6 1.6 8

 9 Finance companies 7.3 9.0 0.5 5.5 10.8 9.0 19.5 15.7 -1.1 8.2 8.2 9

10 Brokers and dealers -0.1 0.7 3.4 3.7 3.0 1.9 3.5 2.8 3.6 3.8 3.0 10

 Foreign direct investment in U.S. (1):

11 Liab.: Nonfinancial corporate business 72.0 100.9 144.4 262.6 179.7 9.6 307.3 291.4 110.3 124.6 105.0 11

12 Nonfarm noncorporate business 0.3 0.5 0.2 0.2 0.1 0.1 0.2 0.1 0.1 -0.3 0.1 12

13 Commercial banking -0.1 7.7 5.5 19.1 9.6 20.4 1.9 3.3 12.7 1.2 15.6 13

14 Life insurance companies 1.0 7.0 2.7 12.3 19.1 2.6 9.5 21.9 42.2 14.9 12.9 14

15 Other insurance companies 5.7 5.9 1.3 9.9 6.7 3.6 5.8 10.5 7.0 6.0 -3.8 15

16 Finance companies 5.1 6.6 2.6 11.4 17.6 -7.6 3.1 5.2 69.7 23.6 18.6 16

17 Brokers and dealers 1.3 0.3 1.7 3.3 1.7 2.3 1.6 2.3 0.5 4.5 2.1 17

18 Funding corporations 1.1 -23.4 20.0 -17.8 53.2 115.1 32.1 -30.6 96.3 35.3 118.2 18

19 Asset: Rest of the world 86.5 105.6 178.2 301.0 287.7 146.0 361.6 304.2 338.8 209.9 268.7 19

20 Equity 63.7 59.5 147.1 225.6 216.7 100.0 292.2 149.0 325.7 87.4 225.4 20

21 Reinvested earnings 8.5 15.0 2.0 20.0 23.7 28.6 40.2 17.0 8.8 9.5 15.3 21

22 Intercompany accounts 14.3 31.1 29.1 55.4 47.3 17.4 29.2 138.2 4.3 113.0 28.0 22

 Federal government equity in IBRD, etc.:

23 Liab.: Rest of the world 1.8 1.6 1.6 1.5 1.5 1.4 1.6 1.3 1.6 2.1 2.0 23

24 Asset: Federal government 1.8 1.6 1.6 1.5 1.5 1.4 1.6 1.3 1.6 2.1 2.0 24

 Federal Reserve Bank stock:

25 Liab.: Monetary authority 0.6 0.8 0.5 0.5 0.6 1.2 0.5 0.3 0.3 0.1 0.5 25

26 Asset: Commercial banking 0.6 0.8 0.5 0.5 0.6 1.2 0.5 0.3 0.3 0.1 0.5 26

 Equity in govt.-sponsored enterprises:

27 Liab.: Government-sponsored enterprises 1.2 0.7 3.3 5.5 2.2 4.0 -0.9 1.8 3.8 1.9 10.6 27

28 Asset: Nonfin. corporate business (FNMA) -0.2 -1.1 -0.7 -0.6 0.0 -0.1 -1.5 0.3 1.2 -1.3 9.1 28

29 Nonfarm noncorporate (BC) 0.7 0.0 -0.1 0.0 -0.0 0.4 -0.3 -0.1 0.1 -0.1 -0.3 29

30 Farm business (FICB and FLB) -0.6 0.0 0.1 -0.0 -0.0 -0.3 0.3 0.2 -0.1 -0.1 0.3 30

31 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Commercial banks (FHLB) 0.8 1.3 2.0 3.0 0.8 1.7 -0.2 0.0 1.5 1.3 0.5 32

33 Savings institutions (FHLB) 0.5 0.4 1.8 2.7 1.3 2.6 0.7 0.9 0.9 1.8 1.2 33

34 Credit unions (FHLB) 0.0 0.0 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.2 0.1 34

35 Life insurance companies (FHLB) 0.1 0.0 0.0 0.1 0.0 -0.3 0.0 0.4 0.0 -0.1 -0.4 35

 BHC investment in subsidiaries:

36 Liab.: Commercial banking 28.6 40.7 55.3 2.9 53.6 80.8 35.9 54.9 42.7 65.5 103.8 36

37 Savings institutions 0.2 0.3 0.4 0.5 0.7 0.6 0.6 0.7 0.7 0.7 0.8 37

38 Finance companies 4.6 2.2 -1.4 31.0 11.3 42.6 -16.6 14.9 4.4 -16.1 14.9 38

39 Mortgage companies 4.1 -4.6 1.6 0.2 0.1 -3.0 2.7 -0.3 1.0 0.7 0.6 39

40 Brokers and dealers -8.6 27.0 43.5 -14.6 50.2 92.6 15.5 40.7 52.2 70.0 3.0 40

41 Asset: Bank holding companies 28.9 65.7 99.4 20.1 115.9 213.6 38.2 110.9 101.0 120.9 123.0 41

 NFC investment in finance company subs.:

42 Liab.: Finance companies 4.6 2.2 -1.4 31.0 11.3 42.6 -16.6 14.9 4.4 -16.1 14.9 42

43 Asset: Nonfinancial corporate business 4.6 2.2 -1.4 31.0 11.3 42.6 -16.6 14.9 4.4 -16.1 14.9 43

 Funding corp. investment in subs.:

44 Liab.: Foreign banking offices in U.S. 13.7 14.3 11.8 2.5 45.6 86.1 -0.1 21.5 75.0 14.6 -20.2 44

45 Brokers and dealers 51.5 43.0 48.9 71.9 8.3 -7.8 32.2 -3.9 12.9 45.3 -17.1 45

46 Asset: Funding corporations 65.2 57.3 60.7 74.4 54.0 78.3 32.1 17.6 87.8 59.9 -37.3 46

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--are not available before 1982.
Z.1, September 18, 2001 55

F.231 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -0.1 -0.0 -0.1 0.6 0.0 -1.2 0.2 0.4 0.6 -0.4 0.0 1

 2 Asset: Federal government -0.1 -0.0 -0.1 0.6 0.0 -1.2 0.2 0.4 0.6 -0.4 0.0 2

 Postal Savings System deposits:

 3 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 Deposits at Federal Home Loan Banks:

 5 Liab.: Government-sponsored enterprises -1.2 0.0 6.8 -7.8 -0.0 -8.1 -8.7 2.8 13.8 51.5 -14.9 5

 6 Asset: Savings institutions -1.2 0.0 6.8 -7.8 -0.0 -8.1 -8.7 2.8 13.8 51.5 -14.9 6

 Deferred and unpaid life insurance premiums:

 7 Liab.: Household sector 0.8 0.3 -1.4 2.1 0.1 -2.9 0.8 -0.6 3.2 -3.3 0.2 7

 8 Asset: Life insurance companies 0.8 0.3 -1.4 2.1 0.1 -2.9 0.8 -0.6 3.2 -3.3 0.2 8

 Life insurance company reserves:

 9 Liab.: Life insurance companies 7.0 8.3 7.9 11.4 5.0 3.9 10.3 5.3 0.6 -0.3 -1.1 9

10 Health 6.2 6.3 7.3 10.2 3.9 3.8 8.4 2.2 1.2 -2.4 0.0 10

11 Policy dividend accumulation 0.8 2.0 0.7 1.2 1.1 0.0 1.8 3.0 -0.6 2.1 -1.1 11

12 Asset: Household sector 7.0 8.3 7.9 11.4 5.0 3.9 10.3 5.3 0.6 -0.3 -1.1 12

 Policy payables:

13 Liab.: Other insurance companies 6.6 4.8 4.3 2.5 -0.8 3.8 14.3 7.4 -28.8 8.3 9.6 13

14 Asset: Household sector 2.7 2.0 1.8 1.1 -0.3 1.6 6.0 3.1 -12.1 3.5 4.0 14

15 Nonfinancial corporate business 2.6 1.9 1.7 1.0 -0.3 1.5 5.7 2.9 -11.4 3.3 3.8 15

16 Nonfarm noncorporate business 0.6 0.5 0.4 0.2 -0.1 0.4 1.4 0.7 -2.7 0.8 0.9 16

17 Farm business 0.6 0.4 0.4 0.2 -0.1 0.3 1.3 0.7 -2.6 0.8 0.9 17

 Unallocated insurance company contracts:

18 Liab.: Life insurance companies 14.4 -1.0 21.4 13.4 9.1 9.4 7.2 14.8 4.9 3.2 16.3 18

19 Asset: Private pension funds 14.4 -1.0 21.4 13.4 9.1 9.4 7.2 14.8 4.9 3.2 16.3 19

 Pension fund contributions payable:

20 Liab.: Nonfinancial corporate business 4.1 7.1 1.9 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 20

21 Asset: Private pension funds 4.1 7.1 1.9 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 21

 Securities borrowed (net):

22 Liab.: Funding corporations 59.9 57.2 70.0 16.3 86.2 106.4 85.5 9.9 143.1 -71.7 212.9 22

23 Asset: Brokers and dealers 59.9 57.2 70.0 16.3 86.2 106.4 85.5 9.9 143.1 -71.7 212.9 23
56 Z.1, September 18, 2001

F.232 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net change in liabilities 152.8 75.3 406.8 109.2 266.1 246.5 429.3 625.4 -236.7 40.3 183.4 1

 2 Nonfinancial corporate business 149.1 -85.9 284.5 4.8 148.4 258.7 61.7 59.8 213.3 87.2 -72.7 2

 3 Nonfarm noncorporate business 29.4 56.0 74.2 49.9 46.0 46.0 46.0 41.0 51.0 35.0 35.5 3

 4 Federal government -3.3 0.3 -7.1 -2.9 2.0 -7.6 5.4 7.9 2.3 0.6 4.1 4

 5 Rest of the world 41.1 28.6 29.5 53.6 24.8 98.5 -64.0 142.8 -78.0 17.7 -61.8 5

 6 Monetary authority -0.7 1.3 0.8 -1.8 0.6 -14.8 -0.0 12.0 5.0 -21.8 -5.2 6

 7 Commercial banking -22.1 108.4 48.4 -92.7 75.9 -131.3 247.5 213.6 -26.3 -144.1 103.8 7

 8 U.S.-chartered commercial banks -13.0 30.5 -2.4 -20.0 71.4 42.6 107.0 89.3 46.8 -179.5 -117.2 8

 9 Foreign banking offices in U.S. -26.9 34.2 -11.5 -64.1 -39.4 -167.8 127.3 6.0 -123.0 -52.6 92.1 9

10 Bank holding companies 17.3 39.0 56.0 -10.8 43.1 -8.9 10.9 111.8 58.7 88.9 133.2 10

11 Banks in U.S.-affiliated areas 0.6 4.7 6.3 2.2 0.7 2.8 2.3 6.5 -8.8 -1.0 -4.3 11

12 Savings institutions -2.7 -2.4 -2.1 -15.0 16.5 -44.1 -10.2 36.1 84.1 -10.3 13.5 12

13 Credit unions 0.0 0.1 0.5 0.9 -0.4 -1.5 3.3 4.3 -7.8 -19.4 4.8 13

14 Life insurance companies 6.1 21.8 10.8 -0.3 -14.5 20.6 -6.1 -12.5 -60.0 43.1 3.3 14

15 Government-sponsored enterprises 0.3 7.1 10.1 -3.7 5.2 22.0 -6.2 -12.3 17.4 28.8 0.0 15

16 Finance companies -11.3 -23.8 18.0 -0.8 41.9 70.9 6.3 163.2 -72.9 35.3 43.5 16

17 REITs 2.5 8.8 13.6 4.4 1.8 -0.6 6.0 4.5 -2.6 18.9 -21.1 17

18 Brokers and dealers -15.8 -48.7 -49.4 -53.5 -65.9 32.8 28.6 -39.6 -285.3 -34.7 391.8 18

19 Funding corporations -20.0 3.6 -25.0 166.4 -16.1 -103.1 111.0 4.6 -76.8 3.9 -256.2 19

20 Net change in assets 277.3 201.7 544.6 482.8 628.6 664.2 782.0 901.0 167.0 47.8 474.5 20

21 Nonfinancial corporate business 181.2 -48.7 321.0 261.4 267.2 400.9 354.7 204.5 108.5 136.4 49.6 21

22 Nonfarm noncorporate business 35.2 55.9 75.9 62.4 51.7 53.7 53.2 55.7 44.2 46.4 45.7 22

23 State and local governments -8.1 -1.2 -9.7 7.7 12.3 18.7 -10.9 30.8 10.7 23.6 39.8 23

24 Federal government -8.4 -7.0 -5.0 -3.0 -2.9 -6.8 -1.8 -1.3 -1.9 -2.2 -1.1 24

25 Rest of the world 57.0 102.4 25.6 105.4 179.0 383.5 43.9 264.3 24.2 217.0 -264.1 25

26 Monetary authority 2.4 1.3 4.9 -1.3 1.1 -2.8 -1.0 4.5 3.6 -4.9 2.8 26

27 Commercial banking -7.9 32.7 20.1 11.0 -21.7 -267.9 144.4 60.7 -24.0 -256.2 178.1 27

28 U.S.-chartered commercial banks 1.3 0.5 4.5 4.5 -4.0 -44.2 23.9 25.1 -20.9 -47.7 -17.4 28

29 Foreign banking offices in U.S. -21.2 37.0 0.4 -21.3 -36.5 -199.2 90.0 -12.7 -24.1 -205.2 178.2 29

30 Bank holding companies 11.3 -6.7 12.1 28.9 20.9 -23.2 28.8 46.6 31.4 -5.2 14.5 30

31 Banks in U.S.-affiliated areas 0.8 1.8 3.1 -1.0 -2.1 -1.4 1.6 1.7 -10.5 1.9 2.9 31

32 Savings institutions -1.1 -3.6 5.1 2.5 6.2 2.4 22.6 6.6 -6.8 18.0 14.5 32

33 Credit unions -0.2 3.8 6.7 -16.5 15.3 -2.5 6.2 17.5 40.0 23.8 4.8 33

34 Bank personal trusts and estates 3.9 -1.4 8.4 -2.5 -1.5 -2.1 -2.8 -0.2 -0.9 -1.1 -0.7 34

35 Life insurance companies -33.1 -8.8 4.1 -39.4 18.7 14.8 14.9 40.7 4.3 -72.4 -33.8 35

36 Private pension funds 17.4 7.4 8.7 4.5 6.2 4.9 9.3 6.7 4.1 1.8 4.6 36

37 State and local govt. retirement funds 8.2 0.7 3.3 16.3 8.8 -5.0 13.3 10.6 16.3 15.4 5.4 37

38 Money market mutual funds 4.4 14.3 9.6 22.6 12.2 -17.1 222.3 -61.4 -95.2 36.7 175.1 38

39 Mutual funds -1.7 7.1 -3.9 -4.3 -0.5 -6.6 -0.0 2.9 1.8 -5.6 -0.2 39

40 Government-sponsored enterprises 6.8 7.1 0.7 5.0 19.2 -37.9 25.3 39.6 49.6 -56.3 0.4 40

41 Finance companies 14.6 9.9 15.6 43.0 14.2 -34.2 -11.9 101.9 1.0 -19.8 13.6 41

42 REITs -1.7 4.9 10.7 -0.1 0.0 1.7 -3.2 5.1 -3.6 2.8 3.9 42

43 Brokers and dealers 8.4 24.9 42.6 8.3 43.3 166.6 -96.5 111.8 -8.9 -55.5 236.1 43

44 Discrepancy -124.5 -126.4 -137.7 -373.6 -362.4 -417.8 -352.7 -275.6 -403.7 -7.4 -291.1 44
Z.1, September 18, 2001 57

F.11 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 All sectors -108.8 -11.6 -82.7 -186.2 -48.4 497.8 -291.0 -154.2 -246.1 165.5 -131.2 1

 2 Household sector -28.9 59.6 23.4 40.6 6.0 145.8 -53.4 -57.9 -10.6 -228.0 -140.7 2

 3 Nonfinancial corporate business -16.6 82.1 -80.3 -97.5 -84.8 -95.6 -97.5 -71.9 -74.1 -36.7 -32.7 3

 4 State and local governments -9.4 39.1 -50.9 -27.9 -28.6 -35.6 -47.1 -20.5 -11.1 15.7 13.8 4

 5 Federal government 56.0 15.2 22.6 -2.2 -4.8 149.7 -124.6 29.6 -74.1 240.2 -25.1 5

 6 Rest of the world -62.2 -149.4 53.5 -63.0 -14.2 163.7 -209.7 -7.5 -3.2 96.5 -84.2 6

 7 Financial sectors -47.8 -58.3 -51.0 -36.2 78.1 169.8 241.3 -26.0 -73.0 77.9 137.6 7

 8 Monetary authority 0.8 1.7 -3.1 -0.7 3.8 -2.2 19.8 5.0 -7.5 4.9 1.0 8

 9 Commercial banking -6.9 42.4 25.3 -40.8 62.6 130.6 176.8 -31.7 -25.4 134.5 177.4 9

10 Savings institutions -3.6 -1.9 -3.0 2.6 4.4 3.1 5.3 1.9 7.2 1.6 4.8 10

11 Credit unions 1.4 -0.2 -0.1 1.4 -0.3 -0.7 1.6 -0.9 -1.1 -0.8 1.2 11

12 Bank personal trusts and estates 2.1 -5.3 -0.2 1.7 0.9 1.1 1.2 0.8 0.7 0.5 0.3 12

13 Life insurance companies -41.9 -45.0 -33.6 -27.9 -25.8 -41.0 -12.5 -31.4 -18.5 -70.7 -50.5 13

14 Other insurance companies -11.8 -46.7 -21.0 11.5 -13.5 -27.5 28.3 4.4 -59.2 -5.4 -22.9 14

15 Mutual funds 5.6 8.0 -8.4 6.9 1.7 7.6 0.5 0.2 -1.6 -2.8 -2.2 15

16 Government-sponsored enterprises 0.5 -3.0 -4.1 -3.0 -6.0 -2.6 -4.9 -6.9 -9.4 -5.9 -10.7 16

17 Issuers of asset-backed securities 0.0 0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 17

18 Finance companies 4.5 -11.1 -6.2 3.0 42.4 91.3 16.7 29.2 32.3 14.8 37.4 18

19 REITs 6.6 9.5 11.9 17.4 16.6 19.4 17.3 11.6 18.0 17.7 10.7 19

20 Brokers and dealers -5.0 -6.8 -8.6 -8.5 -8.7 -9.3 -8.7 -8.2 -8.5 -10.5 -8.9 20

F.12 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 All types -108.8 -11.6 -82.7 -186.2 -48.4 497.8 -291.0 -154.2 -246.1 165.5 -131.2 1

 2 Treasury currency -0.4 -0.2 -0.1 -0.7 -1.2 -1.8 -0.7 0.9 -3.3 -3.6 -0.3 2

 3 Foreign deposits 59.6 106.2 -8.5 45.8 68.7 262.7 -81.9 -99.2 193.3 178.2 -108.3 3

 4 Net interbank transactions -3.3 -19.9 3.4 3.5 17.4 25.3 5.4 -12.1 51.1 16.7 12.9 4

 5 Security RPs 2.4 63.2 60.6 30.0 110.9 566.4 52.0 127.4 -302.3 -141.4 121.2 5

 Mail floats:

 6 Federal government 0.5 -2.7 2.6 -7.4 9.0 18.7 16.3 3.0 -2.1 -29.8 13.8 6

 7 Other -4.0 -3.9 -3.1 -0.8 1.7 1.0 1.4 1.9 2.4 3.8 3.9 7

 8 Trade credit -25.4 -29.2 -51.3 42.9 -36.8 -72.1 -50.0 -49.4 24.1 26.7 -5.0 8

 9 Taxes payable 23.1 28.0 19.7 6.5 14.1 9.4 10.0 -7.5 44.5 1.7 -26.9 9

10 Miscellaneous -124.5 -126.4 -137.7 -373.6 -362.4 -417.8 -352.7 -275.6 -403.7 -7.4 -291.1 10

11 Nonfinancial -36.6 -26.8 31.8 67.5 130.4 106.1 109.3 156.3 150.0 120.7 148.6 11

 Nonfinancial components (sign reversed):

12 Statistical discrepancy (NIPA) 33.0 29.7 -31.1 -72.8 -130.4 -106.1 -109.2 -156.3 -149.9 -120.7 -148.7 12

13 Private wage accruals less disbursements 3.6 -2.9 -0.7 5.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13
58 Z.1, September 18, 2001

L.1 Credit Market Debt Outstanding (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total credit market debt owed by: 18439.9 19807.2 21296.7 23437.6 25675.5 26070.3 26479.6 26906.6 27481.9 27931.7 28309.5 1

 2 Domestic nonfinancial sectors 13707.5 14440.6 15243.5 16267.0 17399.6 17629.0 17807.7 18008.0 18287.7 18529.3 18716.5 2

 3 Federal government 3636.7 3781.8 3804.9 3752.2 3681.0 3653.5 3464.0 3410.2 3385.2 3408.8 3261.4 3

 4 Nonfederal sectors 10070.7 10658.8 11438.6 12514.8 13718.5 13975.5 14343.8 14597.8 14902.6 15120.5 15455.1 4

 5 Household sector 4913.8 5218.6 5540.9 5995.1 6501.7 6566.0 6727.4 6890.5 7063.8 7133.7 7307.6 5

 6 Nonfinancial corporate business 2879.9 3097.3 3396.9 3791.6 4275.2 4427.2 4574.2 4634.8 4712.7 4803.3 4897.5 6

 7 Nonfarm noncorporate business 1062.0 1129.8 1225.5 1364.4 1520.1 1554.3 1600.3 1631.5 1666.1 1696.7 1727.9 7

 8 Farm business 144.8 149.7 155.9 163.9 169.4 170.7 176.2 177.9 180.7 180.2 184.8 8

 9 State and local governments 1070.2 1063.4 1119.5 1199.8 1252.1 1257.3 1265.7 1263.1 1279.3 1306.5 1337.3 9

10 Rest of the world 453.7 542.2 608.0 651.5 679.6 707.1 716.4 749.9 775.8 776.5 776.3 10

11 Financial sectors 4278.8 4824.5 5445.2 6519.1 7596.3 7734.2 7955.4 8148.7 8418.4 8626.0 8816.7 11

12 Commercial banking 250.6 263.6 309.2 382.1 449.3 463.6 494.7 502.0 509.3 540.3 543.8 12

13 U.S.-chartered commercial banks 92.2 103.9 133.4 186.2 228.0 240.3 263.4 263.2 264.8 271.9 273.4 13

14 Foreign banking offices in U.S. 10.4 9.6 7.2 2.4 2.0 2.0 2.0 1.9 2.0 1.8 1.4 14

15 Bank holding companies 148.0 150.0 168.6 193.5 219.3 221.4 229.3 236.9 242.5 266.5 269.1 15

16 Savings institutions 115.0 140.5 160.3 212.4 260.4 266.9 280.7 276.0 287.7 295.1 294.5 16

17 Credit unions 0.4 0.4 0.6 1.1 3.4 2.6 2.9 3.1 3.4 3.2 3.5 17

18 Life insurance companies 0.5 1.6 1.8 2.5 3.2 3.0 2.7 2.7 2.5 1.9 1.9 18

19 Government-sponsored enterprises 806.5 896.9 995.3 1273.6 1591.7 1618.0 1680.2 1749.7 1825.8 1891.4 1957.6 19

20 Federally related mortgage pools 1570.3 1711.3 1825.8 2018.4 2292.2 2322.1 2355.2 2414.3 2491.6 2534.2 2635.8 20

21 ABS issuers 712.5 863.3 1076.6 1398.0 1621.4 1655.8 1697.0 1742.3 1829.6 1892.2 1940.8 21

22 Finance companies 483.9 529.8 554.5 597.5 659.9 670.7 712.7 716.5 734.6 721.4 727.1 22

23 Mortgage companies 16.5 20.6 16.0 17.7 17.8 17.1 17.8 17.7 17.9 18.1 18.2 23

24 REITs 44.6 56.5 96.1 158.8 165.1 167.9 170.4 169.8 167.8 166.2 166.8 24

25 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 36.4 36.2 42.6 40.9 35.0 43.9 25

26 Funding corporations 248.6 312.7 373.7 414.4 506.6 510.1 505.1 511.9 507.3 526.9 482.9 26

27 Total credit market assets held by: 18439.9 19807.2 21296.7 23437.6 25675.5 26070.3 26479.6 26906.6 27481.9 27931.7 28309.5 27

28 Domestic nonfederal nonfinancial sectors 2892.3 3007.3 2933.8 2991.8 3251.2 3170.5 3184.6 3125.5 3093.8 3009.6 2975.0 28

29 Household sector 1927.8 2082.5 2018.6 1941.8 2151.6 2079.2 2065.0 2021.3 1977.3 1907.4 1887.4 29

30 Nonfinancial corporate business 280.4 270.2 257.5 241.5 238.7 230.8 246.2 238.9 248.5 235.1 225.1 30

31 Nonfarm noncorporate business 45.5 49.7 52.7 69.1 78.0 77.5 77.6 76.6 75.9 74.7 73.4 31

32 State and local governments 638.6 604.8 605.0 739.4 782.8 782.9 795.8 788.7 792.0 792.4 789.1 32

33 Federal government 207.2 200.2 205.4 219.1 258.0 259.6 261.6 262.7 265.4 266.6 268.9 33

34 Rest of the world 1531.1 1926.6 2257.3 2539.8 2676.2 2760.7 2809.9 2861.7 3004.6 3112.9 3198.9 34

35 Financial sectors 13809.3 14673.2 15900.1 17686.8 19490.2 19879.5 20223.5 20656.7 21118.1 21542.6 21866.6 35

36 Monetary authority 380.8 393.1 431.4 452.5 478.1 501.9 505.1 511.5 511.8 523.9 535.1 36

37 Commercial banking 3520.1 3707.7 4031.9 4335.7 4643.9 4725.0 4847.4 4931.0 5002.3 5015.7 5050.6 37

38 U.S.-chartered commercial banks 3056.1 3175.8 3450.7 3761.2 4078.9 4171.3 4295.4 4368.2 4418.7 4424.4 4463.2 38

39 Foreign banking offices in U.S. 412.6 475.8 516.1 504.2 484.1 482.0 478.1 487.5 508.1 515.0 510.7 39

40 Bank holding companies 18.0 22.0 27.4 26.5 32.7 22.1 23.0 21.3 20.5 22.3 21.6 40

41 Banks in U.S.-affiliated areas 33.4 34.1 37.8 43.8 48.3 49.6 51.0 54.0 55.0 54.1 55.1 41

42 Savings institutions 913.3 933.2 928.5 964.6 1033.2 1045.8 1062.5 1082.2 1089.7 1101.6 1116.1 42

43 Credit unions 263.0 288.5 305.3 324.2 351.7 359.0 370.1 376.0 382.2 381.7 391.2 43

44 Bank personal trusts and estates 239.7 232.0 207.0 194.1 222.0 226.7 230.2 234.6 239.1 241.8 245.1 44

45 Life insurance companies 1587.5 1657.0 1751.1 1828.0 1886.0 1902.2 1914.1 1935.1 1943.9 1967.2 1991.0 45

46 Other insurance companies 468.7 491.2 515.3 521.1 518.2 515.4 510.8 512.4 509.4 510.0 510.7 46

47 Private pension funds 631.2 627.0 674.6 731.0 775.9 787.6 793.8 810.0 817.2 823.7 828.8 47

48 State and local govt. retirement funds 529.6 565.4 632.5 704.6 751.4 767.2 775.1 784.5 801.0 804.3 808.8 48

49 Money market mutual funds 545.5 634.3 721.9 965.9 1147.8 1217.1 1159.4 1212.5 1296.7 1403.8 1414.6 49

50 Mutual funds 771.3 820.2 901.1 1025.9 1073.1 1053.7 1073.9 1088.5 1099.9 1113.8 1151.5 50

51 Closed-end funds 96.2 100.8 98.3 103.7 111.1 109.0 106.9 104.8 102.7 100.6 98.5 51

52 Government-sponsored enterprises 761.7 832.8 939.4 1253.9 1545.6 1584.0 1649.2 1704.3 1793.7 1866.5 1944.5 52

53 Federally related mortgage pools 1570.3 1711.3 1825.8 2018.4 2292.2 2322.1 2355.2 2414.3 2491.6 2534.2 2635.8 53

54 ABS issuers 653.4 773.9 937.7 1219.4 1424.6 1453.8 1486.3 1522.9 1602.9 1660.5 1706.0 54

55 Finance companies 526.2 544.5 566.4 618.4 713.3 747.0 780.6 795.5 812.6 809.4 829.6 55

56 Mortgage companies 33.0 41.2 32.1 35.3 35.6 34.1 35.5 35.4 35.9 36.2 36.5 56

57 REITs 26.0 30.4 50.6 45.5 42.9 38.8 38.2 37.3 36.6 37.6 37.9 57

58 Brokers and dealers 183.4 167.7 182.6 189.4 154.7 194.6 187.9 243.3 223.6 317.7 288.4 58

59 Funding corporations 108.4 121.0 166.7 155.3 288.8 294.5 341.3 320.7 325.4 292.3 246.0 59

(1) Excludes corporate equities and mutual fund shares.
Z.1, September 18, 2001 59

L.2 Credit Market Debt Owed by Nonfinancial Sectors

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Domestic 13707.5 14440.6 15243.5 16267.0 17399.6 17629.0 17807.7 18008.0 18287.7 18529.3 18716.5 1

 2 Federal government 3636.7 3781.8 3804.9 3752.2 3681.0 3653.5 3464.0 3410.2 3385.2 3408.8 3261.4 2

 3 Treasury securities 3608.5 3755.1 3778.3 3723.7 3652.8 3625.8 3435.7 3382.6 3357.8 3382.1 3234.4 3

 4 Budget agency secur. and mortgages 28.2 26.6 26.5 28.5 28.3 27.8 28.2 27.6 27.3 26.8 27.0 4

 5 Nonfederal, by instrument 10070.7 10658.8 11438.6 12514.8 13718.5 13975.5 14343.8 14597.8 14902.6 15120.5 15455.1 5

 6 Commercial paper 157.4 156.4 168.6 193.0 230.3 260.8 296.8 307.0 278.4 253.2 223.3 6

 7 Municipal securities and loans 1293.5 1296.0 1367.5 1464.3 1532.5 1539.2 1551.6 1550.3 1567.8 1596.6 1629.3 7

 8 Corporate bonds 1344.1 1460.4 1610.9 1829.6 2059.5 2106.0 2144.5 2190.6 2234.5 2335.4 2441.3 8

 9 Bank loans n.e.c. 863.6 934.1 1040.5 1148.8 1231.5 1259.1 1306.4 1311.6 1334.6 1324.0 1295.3 9

10 Other loans and advances 736.9 770.4 839.5 913.8 974.6 1020.1 1049.5 1052.2 1089.9 1096.0 1119.5 10

11 Mortgages 4552.5 4830.0 5147.6 5633.7 6264.0 6374.3 6541.0 6690.9 6831.0 6956.7 7165.3 11

12 Home 3507.9 3717.1 3969.7 4353.9 4783.5 4858.0 4982.3 5100.0 5200.7 5293.5 5449.7 12

13 Multifamily residential 265.1 278.2 285.8 309.7 352.6 360.3 372.6 379.9 390.3 400.4 414.5 13

14 Commercial 695.3 747.8 802.0 873.5 1025.6 1051.7 1079.4 1102.7 1130.6 1152.3 1188.3 14

15 Farm 84.2 86.9 90.0 96.6 102.3 104.2 106.8 108.3 109.3 110.4 112.7 15

16 Consumer credit 1122.8 1211.6 1264.1 1331.7 1426.2 1416.0 1454.0 1495.3 1566.5 1558.6 1581.1 16

17 Nonfederal, by sector 10070.7 10658.8 11438.6 12514.8 13718.5 13975.5 14343.8 14597.8 14902.6 15120.5 15455.1 17

18 Household sector 4913.8 5218.6 5540.9 5995.1 6501.7 6566.0 6727.4 6890.5 7063.8 7133.7 7307.6 18

19 Nonfinancial business 4086.7 4376.8 4778.2 5319.9 5964.7 6152.2 6350.7 6444.3 6559.4 6680.2 6810.2 19

20 Corporate 2879.9 3097.3 3396.9 3791.6 4275.2 4427.2 4574.2 4634.8 4712.7 4803.3 4897.5 20

21 Nonfarm noncorporate 1062.0 1129.8 1225.5 1364.4 1520.1 1554.3 1600.3 1631.5 1666.1 1696.7 1727.9 21

22 Farm 144.8 149.7 155.9 163.9 169.4 170.7 176.2 177.9 180.7 180.2 184.8 22

23 State and local governments 1070.2 1063.4 1119.5 1199.8 1252.1 1257.3 1265.7 1263.1 1279.3 1306.5 1337.3 23

 Foreign credit market debt

24 held in U.S. 453.7 542.2 608.0 651.5 679.6 707.1 716.4 749.9 775.8 776.5 776.3 24

25 Commercial paper 56.2 67.5 65.1 72.9 89.2 101.6 101.2 109.8 120.9 112.8 110.1 25

26 Bonds 299.4 366.3 427.7 462.6 479.4 490.6 498.4 521.3 533.7 542.0 551.0 26

27 Bank loans n.e.c. 34.6 43.7 52.1 58.9 59.4 63.3 64.7 67.7 70.7 73.9 67.2 27

28 Other loans and advances 63.6 64.7 63.0 57.2 51.7 51.7 52.1 51.2 50.5 47.7 47.9 28

29 Domestic and foreign 14161.1 14982.7 15851.5 16918.5 18079.2 18336.1 18524.2 18757.9 19063.5 19305.8 19492.8 29

L.3 Credit Market Debt Owed by Financial Sectors

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

 1 By instrument 4278.8 4824.5 5445.2 6519.1 7596.3 7734.2 7955.4 8148.7 8418.4 8626.0 8816.7 1

 2 Federal government-related 2376.8 2608.2 2821.1 3292.0 3884.0 3940.1 4035.3 4164.0 4317.4 4425.6 4593.4 2

 3 Govt.-sponsored enterprise securities 806.5 896.9 995.3 1273.6 1591.7 1618.0 1680.2 1749.7 1825.8 1891.4 1957.6 3

 4 Mortgage pool securities 1570.3 1711.3 1825.8 2018.4 2292.2 2322.1 2355.2 2414.3 2491.6 2534.2 2635.8 4

 5 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Private financial sectors 1901.9 2216.3 2624.1 3227.0 3712.4 3794.2 3920.1 3984.6 4101.0 4200.4 4223.3 6

 7 Open market paper 486.9 579.1 745.7 906.7 1082.9 1115.7 1135.2 1151.6 1210.7 1180.8 1144.5 7

 8 Corporate bonds 1204.7 1378.4 1555.9 1852.8 2064.0 2104.2 2173.5 2228.0 2276.5 2390.5 2442.7 8

 9 Bank loans n.e.c. 51.4 64.0 77.2 107.2 92.9 91.4 93.6 92.5 92.6 97.1 100.3 9

10 Other loans and advances 135.0 162.9 198.5 288.7 395.8 404.4 436.9 430.2 438.3 450.9 450.7 10

11 Mortgages 24.1 31.9 46.8 71.6 76.7 78.5 81.0 82.5 82.9 81.1 85.1 11

12 By sector 4278.8 4824.5 5445.2 6519.1 7596.3 7734.2 7955.4 8148.7 8418.4 8626.0 8816.7 12

13 Commercial banks 102.6 113.6 140.6 188.6 230.0 242.2 265.4 265.2 266.7 273.8 274.7 13

14 Bank holding companies 148.0 150.0 168.6 193.5 219.3 221.4 229.3 236.9 242.5 266.5 269.1 14

15 Savings institutions 115.0 140.5 160.3 212.4 260.4 266.9 280.7 276.0 287.7 295.1 294.5 15

16 Credit unions 0.4 0.4 0.6 1.1 3.4 2.6 2.9 3.1 3.4 3.2 3.5 16

17 Life insurance companies 0.5 1.6 1.8 2.5 3.2 3.0 2.7 2.7 2.5 1.9 1.9 17

18 Government-sponsored enterprises 806.5 896.9 995.3 1273.6 1591.7 1618.0 1680.2 1749.7 1825.8 1891.4 1957.6 18

19 Federally related mortgage pools 1570.3 1711.3 1825.8 2018.4 2292.2 2322.1 2355.2 2414.3 2491.6 2534.2 2635.8 19

20 ABS issuers 712.5 863.3 1076.6 1398.0 1621.4 1655.8 1697.0 1742.3 1829.6 1892.2 1940.8 20

21 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 36.4 36.2 42.6 40.9 35.0 43.9 21

22 Finance companies 483.9 529.8 554.5 597.5 659.9 670.7 712.7 716.5 734.6 721.4 727.1 22

23 Mortgage companies 16.5 20.6 16.0 17.7 17.8 17.1 17.8 17.7 17.9 18.1 18.2 23

24 REITs 44.6 56.5 96.1 158.8 165.1 167.9 170.4 169.8 167.8 166.2 166.8 24

25 Funding corporations 248.6 312.7 373.7 414.4 506.6 510.1 505.1 511.9 507.3 526.9 482.9 25
60 Z.1, September 18, 2001

L.4 Credit Market Debt, All Sectors, by Instrument

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total 18439.9 19807.2 21296.7 23437.6 25675.5 26070.3 26479.6 26906.6 27481.9 27931.7 28309.5 1

 2 Open market paper 700.4 803.0 979.4 1172.6 1402.4 1478.1 1533.3 1568.3 1610.0 1546.8 1477.9 2

 3 U.S. government securities 6013.6 6389.9 6626.0 7044.3 7565.0 7593.6 7499.3 7574.2 7702.6 7834.4 7854.8 3

 4 Municipal securities 1293.5 1296.0 1367.5 1464.3 1532.5 1539.2 1551.6 1550.3 1567.8 1596.6 1629.3 4

 5 Corporate and foreign bonds 2848.1 3205.1 3594.5 4144.9 4602.8 4700.8 4816.3 4939.8 5044.6 5267.9 5435.1 5

 6 Bank loans n.e.c. 949.6 1041.7 1169.8 1314.9 1383.8 1413.7 1464.6 1471.7 1497.9 1495.1 1462.9 6

 7 Other loans and advances 935.4 998.0 1101.0 1259.6 1422.1 1476.2 1538.5 1533.6 1578.6 1594.6 1618.1 7

 8 Mortgages 4576.6 4861.9 5194.4 5705.3 6340.7 6452.7 6622.0 6773.4 6913.9 7037.8 7250.4 8

 9 Consumer credit 1122.8 1211.6 1264.1 1331.7 1426.2 1416.0 1454.0 1495.3 1566.5 1558.6 1581.1 9

 Memo:

 Selected claims not included above:

10 Corporate equities 8495.7 10255.8 13202.0 15492.5 19494.5 20147.0 19180.8 18991.5 17068.8 14920.9 15863.6 10

11 Mutual fund shares 1852.8 2342.4 2989.4 3610.5 4553.4 4863.3 4759.6 4814.4 4457.2 3999.8 4269.9 11

L.5 Total Liabilities and Its Relation to Total Financial Assets

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

 Total credit market debt

 1 (from table L.4) 18439.9 19807.2 21296.7 23437.6 25675.5 26070.3 26479.6 26906.6 27481.9 27931.7 28309.5 1

 2 Official foreign exchange 63.7 53.7 48.9 60.1 50.1 49.4 46.5 44.9 46.0 43.3 41.7 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 6.2 4.2 3.2 2.2 2.2 2.2 3

 4 Treasury currency 18.3 18.9 19.3 19.9 20.9 21.4 22.1 23.2 23.2 22.9 23.2 4

 5 Foreign deposits 418.8 521.7 618.5 642.3 703.6 781.9 782.8 772.6 824.5 883.4 846.8 5

 6 Net interbank liabilities 290.7 240.8 219.4 189.0 204.5 169.7 210.6 173.2 188.0 116.0 163.4 6

 7 Checkable deposits and currency 1229.1 1244.8 1286.1 1333.4 1484.8 1392.9 1409.7 1385.7 1413.3 1385.2 1416.8 7

 8 Small time and savings deposits 2279.7 2377.0 2474.1 2626.5 2671.2 2728.0 2738.8 2790.9 2861.9 2965.3 2992.0 8

 9 Large time deposits 476.9 590.9 713.4 805.5 936.1 966.5 987.4 1025.9 1054.5 1078.0 1090.6 9

10 Money market fund shares 741.3 886.7 1042.5 1329.7 1578.8 1666.0 1627.1 1697.8 1812.1 1994.7 2014.8 10

11 Security RPs 660.0 701.5 822.4 913.7 1083.4 1149.2 1185.0 1238.7 1194.3 1206.0 1241.1 11

12 Mutual fund shares 1852.8 2342.4 2989.4 3610.5 4553.4 4863.3 4759.6 4814.4 4457.2 3999.8 4269.9 12

13 Security credit 305.7 358.1 469.1 572.3 676.6 795.4 775.5 800.4 817.6 799.4 781.8 13

14 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 801.0 806.5 818.7 819.1 823.0 844.6 14

15 Pension fund reserves 5671.3 6325.1 7323.4 8193.7 9041.7 9237.9 9166.7 9307.9 9054.8 8603.5 8885.5 15

16 Trade payables 1704.3 1827.6 1967.3 2076.5 2298.8 2321.7 2366.9 2412.0 2455.2 2425.2 2418.3 16

17 Taxes payable 109.3 128.8 151.1 172.4 194.7 210.1 212.7 214.8 216.4 224.2 219.8 17

18 Investment in bank personal trusts 803.0 871.3 942.5 1001.0 1130.4 1158.0 1114.4 1106.7 1019.4 929.1 964.4 18

19 Miscellaneous 5997.0 6386.0 6727.4 7475.3 8040.5 8258.1 8539.8 8998.1 8845.1 9253.4 9506.9 19

20 Total liabilities 41638.1 45302.7 49785.5 55186.9 61135.1 62646.9 63236.0 64535.7 64586.8 64686.3 66033.3 20

 + Financial assets not included in

 liabilities:

21 Gold and SDRs 22.1 21.4 21.1 21.6 21.4 21.4 21.5 21.4 21.5 21.5 21.6 21

22 Corporate equities 8495.7 10255.8 13202.0 15492.5 19494.5 20147.0 19180.8 18991.5 17068.8 14920.9 15863.6 22

23 Household equity in noncorp. bus. 3600.0 3787.8 4053.2 4398.7 4649.9 4675.4 4772.2 4815.5 4884.7 4929.1 4941.8 23

 - Liabilities not identified as assets:

24 Treasury currency -5.7 -6.1 -6.3 -6.4 -7.1 -7.6 -7.9 -7.6 -8.5 -9.4 -9.4 24

25 Foreign deposits 360.2 437.0 537.1 544.9 591.1 656.7 636.3 611.5 659.9 704.4 677.4 25

26 Net interbank transactions -9.0 -10.6 -32.2 -27.0 -25.5 -13.9 -11.6 -17.6 -4.3 1.7 5.3 26

27 Security RPs 107.4 109.8 172.9 233.5 263.6 410.3 422.8 446.0 374.4 357.6 387.5 27

28 Taxes payable 64.1 81.9 104.2 122.9 122.7 118.6 135.8 124.4 128.5 112.7 129.0 28

29 Miscellaneous -821.1 -1241.1 -1562.1 -2307.3 -2792.5 -2948.5 -3009.7 -2818.5 -3371.8 -3314.7 -3222.6 29

 - Floats not included in assets:

30 Checkable deposits: Federal govt. 3.1 -1.6 -8.1 -3.9 -9.9 -6.5 -5.2 -7.8 -2.6 -21.9 -40.6 30

31 Other 34.2 30.1 26.2 23.1 22.3 18.7 22.5 15.5 24.0 21.1 25.5 31

32 Trade credit 192.0 165.7 126.8 76.6 120.9 50.1 12.8 2.5 88.7 42.1 16.0 32

33 Totals identified to sectors as assets 53830.8 59802.7 67703.2 76443.0 87015.2 89212.6 89014.9 90015.7 88673.3 86664.0 88892.3 33
Z.1, September 18, 2001 61

L.10 Assets and Liabilities of the Personal Sector (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 18646.1 20881.0 24112.8 27169.2 31580.3 32345.0 31453.6 31334.1 29677.1 27874.8 28724.1 1

 2 Foreign deposits 23.4 35.5 37.2 38.3 43.5 48.6 48.6 48.0 51.3 49.8 45.8 2

 3 Checkable deposits and currency 617.3 565.8 531.4 557.2 499.9 485.7 456.2 444.0 476.9 482.5 487.8 3

 4 Time and savings deposits 2409.0 2565.1 2734.7 2935.6 3057.4 3155.8 3217.8 3301.5 3372.8 3469.9 3513.1 4

 5 Money market fund shares 467.2 519.9 605.2 779.7 914.2 994.2 957.7 984.0 1055.6 1153.0 1088.4 5

 6 Securities 7183.8 8370.0 10093.8 11422.2 14429.7 14715.3 13913.7 13523.9 11979.0 10502.0 11022.8 6

 7 Open market paper 48.0 54.7 56.1 63.7 67.7 68.9 70.2 71.4 72.7 67.2 62.7 7

 8 U.S. savings bonds 185.0 187.0 186.5 186.6 186.4 185.3 184.6 184.3 184.8 184.8 186.0 8

 9 Other Treasury securities 576.0 578.7 443.1 335.8 389.5 335.0 223.2 184.1 170.5 149.5 93.9 9

10 Agency securities 160.2 259.4 266.2 191.2 287.2 274.0 296.7 305.7 288.4 176.6 219.6 10

11 Municipal securities 457.6 435.8 471.9 489.8 530.1 532.6 546.5 546.7 544.8 554.0 575.3 11

12 Corporate and foreign bonds 415.3 486.7 519.1 602.6 617.8 607.1 663.5 646.9 631.7 688.1 660.1 12

13 Corporate equities (2) 4182.9 4872.3 6209.5 7190.4 9284.7 9409.8 8688.9 8305.2 7042.9 5942.6 6295.6 13

14 Mutual fund shares 1158.9 1495.4 1941.2 2362.0 3066.3 3302.7 3240.1 3279.5 3043.2 2739.3 2929.6 14

15 Private life insurance reserves 536.3 580.1 632.7 684.7 748.9 765.7 770.6 782.7 782.7 786.5 807.5 15

16 Private insured pension reserves 880.6 953.9 1086.1 1209.9 1367.3 1414.2 1403.2 1424.9 1373.8 1335.8 1405.1 16

17 Private noninsured pension reserves 2964.0 3295.2 3793.6 4255.4 4728.0 4877.9 4799.4 4853.3 4644.6 4342.5 4481.1 17

18 Govt. insurance and pension reserves 1856.6 2106.5 2476.0 2761.9 2981.3 2981.0 3000.0 3065.7 3072.8 2961.8 3036.5 18

19 Investment in bank personal trusts 803.0 871.3 942.5 1001.0 1130.4 1158.0 1114.4 1106.7 1019.4 929.1 964.4 19

20 Miscellaneous and other assets 905.0 1017.6 1179.8 1523.3 1679.7 1748.5 1771.9 1799.4 1848.2 1862.0 1871.6 20

21 Total liabilities 6672.6 7142.1 7707.8 8486.2 9327.5 9502.2 9726.5 9942.7 10135.6 10210.7 10435.8 21

22 Mortgage debt on nonfarm homes 3501.1 3709.3 3961.7 4344.6 4772.0 4846.0 4969.7 5086.7 5187.2 5279.2 5434.7 22

23 Other mortgage debt (3) 863.2 892.3 923.8 1010.2 1112.4 1132.3 1158.9 1181.2 1201.2 1222.7 1252.0 23

24 Consumer credit 1122.8 1211.6 1264.1 1331.7 1426.2 1416.0 1454.0 1495.3 1566.5 1558.6 1581.1 24

25 Policy loans 96.9 101.4 104.6 104.7 100.0 99.6 100.5 102.0 102.8 103.8 104.0 25

26 Security credit 78.6 94.4 131.2 152.8 227.9 282.4 267.8 271.4 233.7 195.8 195.9 26

27 Other liabilities (3) 1010.1 1133.1 1322.4 1542.3 1689.0 1725.9 1775.6 1806.0 1844.2 1850.7 1868.1 27

(1) Combined statement for household sector, nonfarm noncorporate business, and farm business.

(2) Only directly held and those in closed-end funds. Other equities are included in mutual funds (line 14), life insurance and pension reserves (lines 15, 16, 17, and 18), and bank personal trusts (line 19).

(3) Includes corporate farms.
62 Z.1, September 18, 2001

L.100 Households and Nonprofit Organizations (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 21636.2 23960.8 27317.1 30390.2 34912.8 35677.1 34842.1 34747.0 33138.5 31360.6 32203.6 1

 2 Deposits 3306.9 3451.4 3636.7 3986.3 4146.3 4308.0 4291.3 4380.4 4549.4 4735.0 4701.4 2

 3 Foreign deposits 23.4 35.5 37.2 38.3 43.5 48.6 48.6 48.0 51.3 49.8 45.8 3

 4 Checkable deposits and currency 495.9 425.2 368.3 360.0 278.5 258.2 218.2 202.0 231.2 231.9 232.1 4

 5 Time and savings deposits 2337.5 2490.1 2649.0 2840.8 2952.6 3050.0 3110.1 3193.5 3264.0 3359.9 3401.7 5

 6 Money market fund shares 450.1 500.7 582.3 747.1 871.6 951.2 914.4 936.9 1003.0 1093.4 1021.8 6

 7 Credit market instruments 1927.8 2082.5 2018.6 1941.8 2151.6 2079.2 2065.0 2021.3 1977.3 1907.4 1887.4 7

 8 Open market paper 48.0 54.7 56.1 63.7 67.7 68.9 70.2 71.4 72.7 67.2 62.7 8

 9 U.S. government securities 899.7 998.4 865.0 676.7 829.2 762.9 677.0 648.2 620.0 489.9 481.3 9

10 Treasury 739.5 739.1 598.8 485.5 542.0 489.0 380.3 342.5 331.6 313.3 261.7 10

11 Savings bonds 185.0 187.0 186.5 186.6 186.4 185.3 184.6 184.3 184.8 184.8 186.0 11

12 Other Treasury 554.5 552.1 412.3 298.9 355.6 303.7 195.7 158.2 146.9 128.6 75.8 12

13 Agency 160.2 259.4 266.2 191.2 287.2 274.0 296.7 305.7 288.4 176.6 219.6 13

14 Municipal securities 455.4 433.2 468.8 488.3 526.6 529.1 542.9 543.1 541.1 550.2 571.5 14

15 Corporate and foreign bonds 415.3 486.7 519.1 602.6 617.8 607.1 663.5 646.9 631.7 688.1 660.1 15

16 Mortgages 109.5 109.5 109.6 110.5 110.2 111.2 111.5 111.7 111.8 111.9 111.7 16

17 Corporate equities (2) 4182.9 4872.3 6209.5 7190.4 9284.7 9409.8 8688.9 8305.2 7042.9 5942.6 6295.6 17

18 Mutual fund shares 1158.9 1495.4 1941.2 2362.0 3066.3 3302.7 3240.1 3279.5 3043.2 2739.3 2929.6 18

19 Security credit 127.6 162.9 215.5 276.7 323.9 369.6 357.2 370.0 408.7 412.0 412.8 19

20 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 801.0 806.5 818.7 819.1 823.0 844.6 20

21 Pension fund reserves 5671.3 6325.1 7323.4 8193.7 9041.7 9237.9 9166.7 9307.9 9054.8 8603.5 8885.5 21

22 Investment in bank personal trusts 803.0 871.3 942.5 1001.0 1130.4 1158.0 1114.4 1106.7 1019.4 929.1 964.4 22

23 Equity in noncorporate business 3600.0 3787.8 4053.2 4398.7 4649.9 4675.4 4772.2 4815.5 4884.7 4929.1 4941.8 23

24 Miscellaneous assets 291.7 301.4 311.7 321.4 334.2 335.6 339.6 341.7 338.9 339.6 340.4 24

25 Total liabilities 5111.0 5440.4 5808.7 6291.9 6881.8 7001.7 7150.3 7318.3 7455.7 7488.6 7663.9 25

26 Credit market instruments 4913.8 5218.6 5540.9 5995.1 6501.7 6566.0 6727.4 6890.5 7063.8 7133.7 7307.6 26

27 Home mortgages (3) 3383.0 3574.9 3809.5 4155.2 4538.9 4604.9 4717.7 4824.4 4916.2 4997.5 5143.2 27

28 Consumer credit 1122.8 1211.6 1264.1 1331.7 1426.2 1416.0 1454.0 1495.3 1566.5 1558.6 1581.1 28

29 Municipal securities 98.3 104.9 114.9 126.9 137.3 138.0 141.4 141.9 143.0 144.2 145.3 29

30 Bank loans n.e.c. 57.4 58.0 66.6 72.9 65.7 69.6 70.9 67.5 73.9 63.5 60.0 30

31 Other loans and advances 160.3 172.7 190.7 204.0 218.9 222.8 227.4 242.1 246.3 251.1 255.4 31

32 Commercial mortgages 91.9 96.6 95.1 104.4 114.8 114.7 115.8 119.3 117.9 118.8 122.6 32

33 Security credit 78.6 94.4 131.2 152.8 227.9 282.4 267.8 271.4 233.7 195.8 195.9 33

34 Trade payables 101.1 109.1 118.0 126.8 132.7 134.5 136.3 137.7 138.6 140.4 141.5 34

 Deferred and unpaid

35 life insurance premiums 17.5 18.3 18.6 17.2 19.4 18.7 18.9 18.8 19.6 18.7 18.8 35

(1) Sector includes farm households. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations.

(2) Only directly held and those in closed-end funds. Other equities are included in mutual funds (line 18), life insurance and pension reserves (lines 20 and 21), and bank personal trusts (line 22).

(3) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 24.
Z.1, September 18, 2001 63

L.101 Nonfinancial Business (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 5568.0 6162.5 6640.9 7711.4 8707.5 8952.2 9199.4 9358.9 9466.1 9521.3 9606.1 1

 2 Foreign deposits 15.6 26.1 21.0 28.4 26.1 20.2 24.4 37.7 22.2 16.3 13.3 2

 3 Checkable deposits and currency 374.3 430.4 483.6 532.6 631.5 642.5 678.6 695.4 685.7 657.7 667.3 3

 4 Time and savings deposits 114.4 118.6 122.0 126.1 140.1 134.3 137.0 138.4 143.0 144.5 146.0 4

 5 Money market fund shares 77.0 86.9 110.7 146.9 179.9 182.4 183.3 203.0 230.3 269.9 305.0 5

 6 Security RPs 2.4 3.9 4.6 4.2 5.3 6.1 4.2 4.0 5.2 4.7 4.0 6

 7 Credit market instruments 325.9 319.9 310.3 310.6 316.8 308.3 323.8 315.5 324.4 309.9 298.5 7

 8 Commercial paper 20.1 31.5 36.1 39.4 43.7 38.3 37.1 40.3 43.3 42.9 39.0 8

 9 U.S. government securities 102.0 102.3 65.6 71.2 66.0 68.0 69.1 68.2 57.8 55.6 50.0 9

10 Municipal securities 39.0 33.6 30.6 27.2 25.8 27.4 39.9 31.3 36.9 35.9 37.2 10

11 Mortgages 79.7 74.7 99.0 97.9 101.0 101.7 104.2 103.6 103.9 104.1 104.3 11

12 Consumer credit 85.1 77.7 78.9 74.9 80.3 72.9 73.5 72.1 82.7 71.4 68.0 12

13 Mutual fund shares 45.7 59.9 69.1 91.0 113.9 117.5 111.4 111.0 98.8 85.9 91.6 13

14 Trade receivables 1325.3 1442.9 1571.5 1698.5 1857.7 1940.6 2010.0 2051.3 2001.2 2004.3 2019.8 14

15 Miscellaneous assets 3287.5 3673.8 3948.0 4773.2 5436.2 5600.3 5726.6 5802.8 5955.2 6028.2 6060.5 15

16 Total liabilities 7571.1 8080.3 8527.9 9427.0 10365.8 10640.7 10883.9 11094.3 11241.3 11368.5 11490.1 16

17 Credit market instruments 4086.7 4376.8 4778.2 5319.9 5964.7 6152.2 6350.7 6444.3 6559.4 6680.2 6810.2 17

18 Commercial paper 157.4 156.4 168.6 193.0 230.3 260.8 296.8 307.0 278.4 253.2 223.3 18

19 Municipal securities 134.8 137.9 142.0 147.8 152.8 153.3 153.4 153.9 154.2 154.7 155.6 19

20 Corporate bonds 1344.1 1460.4 1610.9 1829.6 2059.5 2106.0 2144.5 2190.6 2234.5 2335.4 2441.3 20

21 Bank loans n.e.c. 806.2 876.0 973.9 1075.9 1165.8 1189.4 1235.5 1244.1 1260.7 1260.5 1235.3 21

22 Other loans and advances 566.8 587.6 639.8 699.7 746.0 788.0 813.1 801.5 834.9 836.0 855.1 22

23 Mortgages 1077.5 1158.5 1243.0 1374.1 1610.2 1654.7 1707.5 1747.2 1796.8 1840.4 1899.5 23

24 Trade payables 979.9 1061.3 1158.7 1240.2 1410.5 1419.6 1447.5 1490.8 1525.9 1492.4 1479.5 24

25 Taxes payable 77.9 92.4 109.0 124.6 139.8 153.7 155.3 155.2 154.3 161.2 154.8 25

26 Miscellaneous liabilities 2426.6 2549.8 2481.9 2742.3 2850.8 2915.2 2930.3 3004.0 3001.7 3034.7 3045.5 26

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
64 Z.1, September 18, 2001

L.102 Nonfarm Nonfinancial Corporate Business

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 4960.9 5460.1 5806.7 6545.4 7379.7 7593.5 7794.3 7928.3 8009.6 8035.9 8093.2 1

 2 Foreign deposits 15.6 26.1 21.0 28.4 26.1 20.2 24.4 37.7 22.2 16.3 13.3 2

 3 Checkable deposits and currency 252.9 289.8 320.5 335.4 410.1 415.1 440.6 453.5 440.0 407.1 411.6 3

 4 Time and savings deposits 42.9 43.6 36.3 31.3 35.3 28.5 29.3 30.3 34.2 34.4 34.6 4

 5 Money market fund shares 60.0 67.6 87.8 114.3 137.3 139.3 140.0 155.9 177.7 210.3 238.4 5

 6 Security RPs 2.4 3.9 4.6 4.2 5.3 6.1 4.2 4.0 5.2 4.7 4.0 6

 7 Commercial paper 20.1 31.5 36.1 39.4 43.7 38.3 37.1 40.3 43.3 42.9 39.0 7

 8 U.S. government securities 80.5 75.6 34.8 34.2 32.1 36.7 41.5 42.3 34.1 34.7 31.8 8

 9 Municipal securities 36.8 31.0 27.4 25.7 22.3 23.9 36.3 27.6 33.2 32.2 33.4 9

10 Mortgages 57.9 54.4 80.2 67.3 60.3 59.0 57.8 56.5 55.3 54.0 52.8 10

11 Consumer credit 85.1 77.7 78.9 74.9 80.3 72.9 73.5 72.1 82.7 71.4 68.0 11

12 Trade receivables 1184.9 1273.1 1366.6 1452.9 1566.3 1639.0 1688.8 1725.9 1669.0 1667.1 1679.1 12

13 Mutual fund shares 45.7 59.9 69.1 91.0 113.9 117.5 111.4 111.0 98.8 85.9 91.6 13

14 Miscellaneous assets 3076.0 3425.9 3643.3 4246.4 4846.6 4997.1 5109.4 5171.3 5314.0 5375.1 5395.5 14

15 U.S. direct investment abroad (1) 778.7 863.2 932.5 1048.4 1160.4 1194.5 1220.3 1252.3 1247.2 1284.2 1316.5 15

16 Insurance receivables 183.6 186.2 188.1 189.8 190.8 191.1 192.5 193.3 190.4 191.3 192.2 16

17 Equity in GSEs 1.8 1.6 0.5 -0.2 -0.8 -0.8 -1.2 -1.1 -0.8 -6.5 -4.2 17

18 Investment in finance company subs. 25.5 30.2 32.3 30.9 61.9 72.6 68.4 72.1 73.2 69.2 72.9 18

19 Other 2086.4 2344.8 2489.9 2977.6 3434.3 3539.7 3629.3 3654.6 3803.9 3836.9 3818.1 19

20 Total liabilities 6009.5 6378.6 6628.8 7232.6 7920.1 8140.2 8307.6 8469.8 8561.5 8646.4 8718.2 20

21 Credit market instruments 2879.9 3097.3 3396.9 3791.6 4275.2 4427.2 4574.2 4634.8 4712.7 4803.3 4897.5 21

22 Commercial paper 157.4 156.4 168.6 193.0 230.3 260.8 296.8 307.0 278.4 253.2 223.3 22

23 Municipal securities (2) 134.8 137.9 142.0 147.8 152.8 153.3 153.4 153.9 154.2 154.7 155.6 23

24 Corporate bonds (1) 1344.1 1460.4 1610.9 1829.6 2059.5 2106.0 2144.5 2190.6 2234.5 2335.4 2441.3 24

25 Bank loans n.e.c. 601.8 642.1 692.7 774.5 847.5 868.3 902.5 909.0 921.8 923.2 900.4 25

26 Other loans and advances 453.7 472.2 520.6 567.9 605.5 642.8 664.7 651.3 681.3 682.0 698.2 26

27 Savings institutions 6.4 7.9 9.4 12.1 15.3 16.7 17.7 19.0 19.7 20.7 21.9 27

28 Finance companies 271.4 278.5 286.7 312.8 364.6 391.1 408.7 410.2 424.0 424.5 433.3 28

29 Federal government 10.0 8.7 8.4 8.3 8.0 7.9 7.7 7.6 7.6 7.6 7.3 29

30 Acceptance liabilities to banks 14.2 13.4 10.8 6.6 4.4 4.9 4.9 4.6 4.3 6.6 5.8 30

31 Rest of the world 122.1 126.0 143.3 142.3 119.5 120.8 124.8 112.4 117.3 114.9 121.0 31

32 ABS issuers 29.6 37.7 62.1 85.9 93.6 101.5 100.9 97.6 108.4 107.6 108.9 32

33 Mortgages 188.3 228.4 262.1 278.9 379.6 396.0 412.4 423.0 442.6 454.9 478.6 33

34 Trade payables 877.5 927.0 992.1 1049.7 1194.1 1197.6 1215.6 1255.1 1286.2 1250.3 1233.2 34

35 Taxes payable 40.3 49.9 59.2 64.1 71.0 82.8 81.5 80.2 78.0 83.9 76.7 35

36 Miscellaneous liabilities 2211.8 2304.3 2180.6 2327.2 2379.8 2432.7 2436.3 2499.7 2484.5 2508.9 2510.8 36

37 Foreign direct investment in U.S. 641.1 698.7 750.7 806.4 948.1 963.6 1035.6 1104.4 1116.0 1161.0 1182.5 37

38 Pension fund contributions payable 82.4 86.4 93.5 95.4 96.4 96.7 96.9 97.2 97.4 97.7 97.9 38

39 Other 1488.3 1519.2 1336.4 1425.4 1335.3 1372.4 1303.8 1298.0 1271.2 1250.2 1230.3 39

 Memo:

40 Trade receivables net of payables 307.4 346.1 374.5 403.2 372.2 441.4 473.2 470.7 382.8 416.7 445.9 40

41 Market value of equities 6435.0 7618.6 9674.9 11521.8 15030.3 15598.4 14723.5 14200.9 12243.1 10599.0 11315.7 41

42 Securities and mortgages 1667.1 1826.6 2014.9 2256.3 2591.9 2655.2 2710.2 2767.4 2831.2 2944.9 3075.5 42

43 Loans and short-term paper 1212.8 1270.7 1382.0 1535.4 1683.3 1772.0 1864.0 1867.4 1881.5 1858.3 1821.9 43

44 Total short-term liabilities (3) 2130.6 2247.6 2433.3 2649.1 2948.4 3052.3 3161.1 3202.7 3245.7 3192.6 3131.9 44

45 Total liquid assets (4) 557.0 629.0 637.7 704.0 826.2 825.6 864.9 902.5 888.7 868.4 897.9 45

 Analytical measures (percent)

46 Long-term debt/credit market debt 57.9 59.0 59.3 59.5 60.6 60.0 59.3 59.7 60.1 61.3 62.8 46

47 Short-term debt/credit market debt 42.1 41.0 40.7 40.5 39.4 40.0 40.7 40.3 39.9 38.7 37.2 47

48 Liquid assets/short-term liabilities 26.1 28.0 26.2 26.6 28.0 27.0 27.4 28.2 27.4 27.2 28.7 48

(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 (except mortgages), short-term paper, taxes payable, and trade payables. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(4) Sum of lines 2 through 9, plus line 13.
Z.1, September 18, 2001 65

L.103 Nonfarm Noncorporate Business

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 546.0 641.3 772.4 1101.8 1264.3 1295.3 1341.5 1367.0 1393.6 1422.4 1449.8 1

 2 Checkable deposits and currency 104.7 124.0 146.2 178.3 203.3 209.6 220.4 224.4 228.3 233.3 238.5 2

 3 Time and savings deposits 71.5 75.0 85.7 94.8 104.8 105.8 107.7 108.0 108.8 110.1 111.4 3

 4 Money market fund shares 17.0 19.2 22.9 32.6 42.6 43.1 43.2 47.2 52.6 59.6 66.6 4

 5 Treasury securities 21.5 26.7 30.8 37.0 33.9 31.3 27.6 25.9 23.7 20.9 18.2 5

 6 Municipal securities 2.2 2.6 3.2 1.5 3.5 3.5 3.6 3.6 3.7 3.7 3.8 6

 7 Mortgages 21.7 20.4 18.7 30.7 40.7 42.7 46.5 47.0 48.6 50.1 51.5 7

 8 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Trade receivables 140.3 169.8 204.9 245.6 291.4 301.6 321.2 325.5 332.2 337.2 340.7 9

10 Miscellaneous assets 167.0 203.5 259.9 481.4 544.1 557.7 571.2 585.3 595.7 607.5 619.1 10

11 Insurance receivables 44.2 44.8 45.2 45.6 45.9 46.0 46.3 46.5 45.8 46.0 46.2 11

12 Equity investment in GSEs (1) 1.0 1.7 1.7 1.6 1.6 1.7 1.6 1.6 1.6 1.6 1.5 12

13 Other 121.9 157.1 213.0 434.2 496.6 510.0 523.3 537.2 548.3 559.9 571.3 13

14 Total liabilities 1400.7 1534.6 1724.4 2010.9 2256.3 2310.7 2379.3 2425.6 2478.3 2521.9 2565.5 14

15 Credit market instruments 1062.0 1129.8 1225.5 1364.4 1520.1 1554.3 1600.3 1631.5 1666.1 1696.7 1727.9 15

16 Bank loans n.e.c. 164.7 193.6 237.3 256.3 274.2 278.7 287.1 288.9 292.0 292.2 287.2 16

17 Other loans and advances 92.3 93.0 97.3 109.5 117.7 121.1 124.9 126.7 129.0 129.4 132.6 17

18 Mortgages 805.0 843.2 890.9 998.6 1128.3 1154.5 1188.3 1215.9 1245.0 1275.1 1308.2 18

19 Trade payables 86.2 116.8 147.8 170.9 196.4 202.9 211.2 214.8 218.8 222.0 224.8 19

20 Taxes payable 37.6 42.5 49.8 60.5 68.8 71.0 73.7 74.9 76.3 77.3 78.1 20

21 Miscellaneous liabilities 214.8 245.5 301.3 415.1 471.0 482.5 494.1 504.3 517.2 525.9 534.8 21

(1) Equity in the Farm Credit System.

L.104 Farm Business (1)

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

 1 Total financial assets 61.2 61.1 61.7 64.2 63.6 63.4 63.6 63.7 62.9 62.9 63.1 1

 2 Checkable deposits and currency 16.7 16.7 16.9 18.8 18.0 17.8 17.6 17.5 17.4 17.2 17.1 2

 3 Miscellaneous assets 44.5 44.4 44.8 45.4 45.6 45.6 46.0 46.2 45.5 45.6 45.9 3

 4 Insurance receivables 42.3 42.9 43.3 43.7 43.9 44.0 44.4 44.5 43.9 44.1 44.3 4

 5 Equity investment in GSEs (2) 2.2 1.5 1.5 1.7 1.6 1.5 1.6 1.6 1.6 1.6 1.7 5

 6 Total liabilities 161.0 167.1 174.7 183.5 189.4 189.8 197.0 198.8 201.5 200.3 206.3 6

 7 Credit market instruments 144.8 149.7 155.9 163.9 169.4 170.7 176.2 177.9 180.7 180.2 184.8 7

 8 Bank loans n.e.c. 39.7 40.4 43.9 45.1 44.2 42.4 45.9 46.2 46.9 45.1 47.8 8

 9 Other loans and advances 20.8 22.4 21.9 22.2 22.8 24.0 23.5 23.4 24.5 24.6 24.3 9

10 Mortgages 84.2 86.9 90.0 96.6 102.3 104.2 106.8 108.3 109.3 110.4 112.7 10

11 Trade payables 16.2 17.4 18.8 19.6 20.0 19.2 20.8 20.9 20.9 20.1 21.5 11

(1) Corporate and noncorporate farms.

(2) Equity in the Farm Credit System.
66 Z.1, September 18, 2001

L.105 State and Local Governments (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 994.1 1007.9 1033.3 1180.3 1267.8 1278.6 1297.9 1305.8 1321.0 1337.5 1357.4 1

 2 Checkable deposits and currency 33.3 27.8 32.2 28.3 32.1 27.2 27.0 25.7 33.2 30.2 33.1 2

 3 Time and savings deposits 62.0 72.6 78.4 91.1 102.1 98.9 100.7 103.4 111.5 109.9 106.2 3

 4 Security RPs 115.7 147.8 151.4 158.5 163.5 176.4 174.0 177.0 173.3 178.0 182.3 4

 5 Credit market instruments 638.6 604.8 605.0 739.4 782.8 782.9 795.8 788.7 792.0 792.4 789.1 5

 6 Open market paper 39.4 59.7 74.0 102.0 103.9 105.6 110.0 109.0 111.5 112.5 108.2 6

 7 U.S. government securities 441.3 373.2 354.8 448.3 474.3 470.5 476.4 467.9 467.2 461.9 460.2 7

 8 Treasury 289.8 257.0 239.3 269.3 266.8 257.2 256.4 241.9 236.2 224.0 216.5 8

 9 Agency 151.5 116.2 115.4 179.0 207.5 213.3 220.0 226.0 231.0 237.9 243.6 9

10 Municipal securities 5.1 4.6 3.9 2.5 1.0 0.6 1.0 1.8 1.6 2.1 2.0 10

11 Corporate and foreign bonds 39.0 49.7 51.0 61.2 73.8 75.3 76.5 76.9 77.5 80.4 82.2 11

12 Mortgages 113.8 117.6 121.3 125.4 129.8 130.9 132.0 133.1 134.3 135.4 136.6 12

13 Corporate equities 26.2 46.8 79.0 102.0 115.0 113.2 115.0 117.6 115.1 108.6 118.6 13

14 Mutual fund shares 35.0 41.0 33.6 21.3 25.6 22.9 24.3 25.4 26.4 28.8 30.7 14

15 Taxes receivable 27.9 26.1 26.9 28.1 33.5 35.5 39.0 42.9 45.6 49.1 50.8 15

16 Miscellaneous assets 55.4 41.0 27.0 11.5 13.1 21.5 21.9 25.0 24.1 40.5 46.5 16

17 Total liabilities 1556.9 1581.0 1668.5 1779.3 1860.7 1874.1 1888.9 1892.6 1915.2 1948.7 1985.6 17

18 Credit market instruments 1070.2 1063.4 1119.5 1199.8 1252.1 1257.3 1265.7 1263.1 1279.3 1306.5 1337.3 18

19 Municipal securities 1060.4 1053.3 1110.6 1189.7 1242.4 1247.9 1256.7 1254.5 1270.6 1297.7 1328.4 19

20 Short-term 32.9 39.1 47.5 41.2 44.8 46.4 45.2 43.5 47.9 52.8 55.1 20

21 Other 1027.5 1014.1 1063.1 1148.5 1197.6 1201.5 1211.6 1211.0 1222.7 1244.9 1273.3 21

22 U.S. government loans 9.8 10.1 8.9 10.1 9.7 9.3 8.9 8.6 8.7 8.8 8.9 22

23 Trade payables 486.7 517.6 549.0 579.5 608.6 616.9 623.2 629.6 635.9 642.1 648.4 23

(1) Data for employee retirement funds are shown in table L.120.

L.106 Federal Government

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

 1 Total financial assets 441.3 440.7 437.9 442.9 557.5 537.6 532.4 538.3 506.7 537.3 538.0 1

 2 Gold, SDRs, and official foreign exchange 53.8 44.9 42.0 51.0 44.5 44.0 41.5 39.7 40.9 39.2 38.0 2

 3 Checkable deposits and currency 22.2 38.3 41.6 23.2 87.9 48.5 60.2 55.7 24.6 30.2 50.4 3

 4 Time and savings deposits 0.9 2.4 3.4 4.7 5.4 5.5 5.7 6.2 6.3 8.4 9.9 4

 5 Credit market instruments 207.2 200.2 205.4 219.1 258.0 259.6 261.6 262.7 265.4 266.6 268.9 5

 6 Agency securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Mortgages 57.5 50.3 45.7 44.9 77.7 76.8 76.8 76.5 76.9 76.3 76.2 7

 8 Other loans and advances 149.7 149.9 159.7 174.2 180.3 182.8 184.7 186.2 188.6 190.3 192.8 8

 9 Trade receivables 23.1 24.0 20.8 22.3 22.9 25.4 26.9 27.7 28.1 31.7 31.9 9

10 Taxes receivable 17.3 20.7 20.0 21.4 38.5 55.9 37.9 47.4 42.4 62.3 39.9 10

11 Miscellaneous assets 116.9 110.2 104.8 101.2 100.3 98.7 98.7 98.8 98.9 98.8 99.0 11

12 Total liabilities 4289.2 4491.3 4546.9 4529.4 4499.3 4463.0 4283.5 4244.7 4225.0 4254.6 4117.2 12

13 SDR certificates 10.2 9.7 9.2 9.2 6.2 6.2 4.2 3.2 2.2 2.2 2.2 13

14 Treasury currency 18.3 18.9 19.3 19.9 20.9 21.4 22.1 23.2 23.2 22.9 23.2 14

15 Credit market instruments 3636.7 3781.8 3804.9 3752.2 3681.0 3653.5 3464.0 3410.2 3385.2 3408.8 3261.4 15

16 Savings bonds 185.0 187.0 186.5 186.6 186.4 185.3 184.6 184.3 184.8 184.8 186.0 16

17 Other Treasury securities 3423.5 3568.1 3591.8 3537.1 3466.3 3440.5 3251.1 3198.2 3173.1 3197.3 3048.4 17

18 Budget agency securities 28.2 26.6 26.5 28.5 28.3 27.8 28.2 27.6 27.3 26.8 27.0 18

19 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Trade payables 81.1 81.8 72.9 64.9 65.6 67.0 67.5 68.3 66.7 64.3 62.0 20

21 Insurance and pension reserves 536.2 591.9 634.0 676.5 719.0 708.2 719.2 733.3 741.3 749.8 762.1 21

22 Miscellaneous liabilities 6.7 7.3 6.6 6.7 6.6 6.6 6.5 6.6 6.4 6.5 6.4 22
Z.1, September 18, 2001 67

L.107 Rest of the World

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 3490.9 4202.8 4925.7 5672.2 6400.8 6634.5 6867.8 7069.1 7368.9 7618.6 7766.2 1

 2 Net interbank assets 229.3 177.3 173.0 145.9 139.4 130.2 166.2 138.0 127.9 60.2 102.5 2

 3 U.S. checkable deposits and currency 193.8 213.7 243.6 258.4 298.3 277.8 280.3 282.3 290.1 292.9 294.7 3

 4 U.S. time deposits 49.6 60.6 73.6 86.6 101.6 99.2 99.6 98.0 107.2 97.2 97.8 4

 5 Security RPs 67.6 70.9 90.8 72.0 86.8 76.0 88.1 93.3 91.9 116.2 119.5 5

 6 Credit market instruments 1531.1 1926.6 2257.3 2539.8 2676.2 2760.7 2809.9 2861.7 3004.6 3112.9 3198.9 6

 7 Open market paper 43.4 57.9 77.8 115.3 102.3 100.0 98.2 94.6 111.0 110.0 113.2 7

 8 U.S. government securities 996.1 1289.5 1498.5 1622.2 1633.6 1674.5 1679.3 1700.7 1772.4 1814.1 1820.8 8

 9 Official holdings 497.8 610.5 614.5 620.3 628.9 653.2 659.6 664.8 676.9 679.4 658.1 9

10 Treasury 482.8 590.7 589.8 589.0 578.2 594.4 590.4 581.4 582.3 581.3 553.6 10

11 Agency 15.0 19.8 24.7 31.3 50.7 58.8 69.1 83.4 94.6 98.1 104.5 11

12 Private holdings 498.3 679.0 884.0 1001.9 1004.6 1021.3 1019.8 1035.8 1095.5 1134.7 1162.7 12

13 Treasury 358.5 502.6 662.2 729.7 660.7 651.3 630.8 618.3 639.7 640.2 638.9 13

14 Agency 139.8 176.5 221.8 272.2 344.0 370.0 389.0 417.6 455.8 494.4 523.8 14

15 U.S. corporate bonds (1) 369.5 453.2 537.8 660.0 820.8 865.4 907.6 954.0 1003.9 1073.9 1143.8 15

16 Loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 120.8 124.8 112.4 117.3 114.9 121.0 16

17 U.S. corporate equities 527.6 656.8 919.5 1175.1 1537.8 1598.2 1620.4 1724.9 1748.3 1626.5 1732.2 17

18 Trade receivables 51.0 57.1 60.3 51.7 46.8 46.4 47.4 49.6 52.5 54.1 53.0 18

19 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Miscellaneous assets 840.9 1039.9 1107.7 1342.6 1513.9 1646.0 1755.9 1821.4 1946.4 2258.6 2167.6 20

21 Foreign direct investment in U.S. (2) 680.1 745.6 823.1 912.2 1094.4 1131.4 1221.9 1299.2 1369.5 1422.4 1490.0 21

22 Other 160.8 294.3 284.5 430.5 419.5 514.7 534.0 522.2 576.9 836.2 677.6 22

23 Total liabilities 2011.7 2316.8 2561.4 2788.9 3073.8 3223.8 3382.6 3641.1 3528.3 3952.3 3974.9 23

 U.S. official foreign exchange

24 and net IMF position 63.7 53.7 48.9 60.1 50.1 49.4 46.5 44.9 46.0 43.3 41.7 24

25 U.S. private deposits 418.8 521.7 618.5 642.3 703.6 781.9 782.8 772.6 824.5 883.4 846.8 25

26 Credit market instruments 453.7 542.2 608.0 651.5 679.6 707.1 716.4 749.9 775.8 776.5 776.3 26

27 Commercial paper 56.2 67.5 65.1 72.9 89.2 101.6 101.2 109.8 120.9 112.8 110.1 27

28 Bonds 299.4 366.3 427.7 462.6 479.4 490.6 498.4 521.3 533.7 542.0 551.0 28

29 Bank loans n.e.c. 34.6 43.7 52.1 58.9 59.4 63.3 64.7 67.7 70.7 73.9 67.2 29

30 Official 2.6 2.9 2.1 2.8 3.0 2.8 3.1 3.6 3.5 3.6 3.3 30

31 Banks 10.9 14.3 13.8 13.1 10.0 11.4 12.0 12.6 13.2 16.2 9.2 31

32 Other 21.1 26.5 36.3 43.0 46.5 49.1 49.5 51.5 54.0 54.1 54.8 32

33 U.S. government loans 55.4 54.8 53.3 52.4 47.8 47.9 48.0 47.4 47.3 46.9 47.1 33

34 Acceptance liabilities to banks 8.2 9.9 9.7 4.7 3.9 3.8 4.1 3.8 3.1 0.8 0.8 34

35 Trade payables 45.3 43.6 48.7 46.3 50.6 50.0 53.0 49.8 52.1 50.7 53.6 35

36 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Miscellaneous liabilities 1030.2 1155.6 1237.4 1388.8 1589.9 1635.3 1783.9 2023.9 1829.9 2198.5 2256.5 37

38 U.S. equity in IBRD, etc. 27.4 29.2 30.8 32.4 33.9 34.2 34.6 34.9 35.4 35.9 36.4 38

39 U.S. government deposits 2.3 2.1 2.1 1.9 2.6 2.3 2.3 2.4 2.6 2.5 2.5 39

40 U.S. direct investment abroad (1,2) 885.5 986.5 1067.4 1196.8 1328.0 1368.9 1404.5 1448.1 1445.2 1489.2 1526.9 40

41 Other 115.0 137.7 137.0 157.7 225.5 230.0 342.5 538.4 346.8 670.9 690.7 41

 Memo:

42 Market value of foreign equities 776.8 1002.9 1207.8 1476.2 2026.6 2057.4 2010.9 1854.0 1787.0 1574.0 1610.7 42

 held by U.S. residents (3)

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

(2) Direct investment is valued on a current-cost basis.

(3) Includes American Depositary Receipts (ADRs).
68 Z.1, September 18, 2001

L.108 Monetary Authority (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 471.9 495.2 534.0 566.8 696.9 604.1 609.8 608.5 636.0 625.3 638.5 1

 2 Gold and foreign exchange 32.1 30.2 28.0 30.7 27.1 26.8 26.5 26.6 26.6 25.5 25.4 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 6.2 4.2 3.2 2.2 2.2 2.2 3

 4 Treasury currency 24.0 25.0 25.6 26.3 28.0 29.0 30.0 30.8 31.6 32.3 32.6 4

 5 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 -0.2 -0.0 0.4 0.9 0.2 -0.4 5

 6 Fed. Res. loans to domestic banks 0.1 0.1 2.0 0.0 0.2 0.2 0.5 0.4 0.1 0.0 0.2 6

 7 Security RPs 13.9 21.6 23.8 30.4 140.6 23.7 26.9 17.3 43.4 22.0 23.3 7

 8 Credit market instruments 380.8 393.1 431.4 452.5 478.1 501.9 505.1 511.5 511.8 523.9 535.1 8

 9 Acceptances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 U.S. government securities 380.8 393.1 431.4 452.5 478.1 501.9 505.1 511.5 511.8 523.9 535.1 10

11 Treasury 378.2 390.9 430.7 452.1 478.0 501.7 505.0 511.4 511.7 523.9 535.1 11

12 Agency 2.6 2.2 0.7 0.3 0.2 0.2 0.1 0.1 0.1 0.0 0.0 12

13 Bank loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Miscellaneous assets 10.7 11.2 13.2 16.1 16.8 16.5 16.6 18.3 19.3 19.3 20.2 14

15 Total liabilities 467.9 490.7 528.8 560.9 690.5 596.1 605.7 604.7 629.2 618.8 631.2 15

16 Depository institution reserves 29.6 24.5 30.8 26.3 24.0 18.2 18.5 17.6 19.0 17.8 18.6 16

17 Vault cash of commercial banks 40.6 45.2 45.0 42.1 66.5 35.2 37.0 34.5 44.4 36.0 37.2 17

18 Checkable deposits and currency 390.3 413.6 443.5 481.8 590.4 532.7 540.6 542.9 555.2 556.1 567.2 18

19 Due to federal government 6.2 8.0 5.7 6.2 28.5 4.5 6.3 8.6 5.6 6.1 7.6 19

20 Due to rest of the world 0.4 0.2 0.5 0.2 0.1 0.2 0.1 0.2 0.3 0.1 0.1 20

21 Currency outside banks 383.7 405.5 437.4 475.4 561.8 528.0 534.1 534.1 549.3 549.8 559.4 21

22 Miscellaneous liabilities 7.4 7.4 9.5 10.7 9.4 10.0 9.6 9.6 10.6 8.8 8.2 22

23 Federal Reserve Bank stock 4.0 4.6 5.4 6.0 6.4 6.7 6.9 6.9 7.0 7.0 7.1 23

24 Other 3.5 2.8 4.0 4.8 3.0 3.3 2.8 2.7 3.6 1.8 1.0 24

(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.
Z.1, September 18, 2001 69

L.109 Commercial Banking (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 4493.8 4710.4 5174.6 5642.2 5989.3 6065.7 6228.3 6368.1 6487.8 6505.7 6592.9 1

 2 Vault cash 40.6 45.2 45.0 42.1 66.5 35.2 37.0 34.5 44.4 36.0 37.2 2

 3 Reserves at Federal Reserve 26.9 22.3 29.1 24.4 22.0 16.6 16.9 16.5 18.0 16.8 17.6 3

 4 Checkable deposits and currency 1.6 1.4 1.4 2.0 2.2 1.9 2.1 1.4 1.7 1.9 1.7 4

 5 Total bank credit 3604.6 3794.5 4144.5 4483.3 4782.0 4882.5 5011.6 5105.9 5194.7 5223.4 5241.8 5

 6 U.S. government securities 746.1 757.5 841.2 876.6 925.0 931.5 920.8 912.8 903.1 887.6 875.5 6

 7 Treasury 278.7 261.8 270.1 214.0 226.7 215.6 201.4 200.9 182.2 171.9 178.1 7

 8 Agency 467.5 495.7 571.2 662.6 698.3 715.9 719.4 711.8 720.9 715.7 697.5 8

 9 Municipal securities 93.4 94.2 96.7 104.8 110.7 111.9 112.3 113.4 114.0 112.7 116.2 9

10 Corporate and foreign bonds 110.9 112.3 143.1 181.1 219.9 214.1 219.0 253.5 277.5 290.5 326.1 10

11 Total loans 2646.9 2821.1 3052.9 3304.8 3504.9 3602.1 3736.9 3801.9 3875.3 3909.0 3899.2 11

12 Open market paper 5.7 6.5 2.7 1.1 1.4 1.4 1.4 1.3 1.5 0.6 0.0 12

13 Bank loans n.e.c. 949.6 1041.7 1169.8 1314.9 1383.8 1413.7 1464.6 1471.7 1497.9 1495.1 1462.9 13

14 Mortgages 1090.2 1145.4 1245.3 1337.0 1495.2 1546.5 1614.1 1648.1 1659.3 1688.1 1723.1 14

15 Consumer credit 502.0 526.8 512.6 508.9 499.8 497.1 506.2 521.8 541.5 533.7 540.2 15

16 Security credit 99.5 100.8 122.5 142.9 124.8 143.4 150.6 159.0 175.2 191.6 173.0 16

17 Corporate equities 5.0 6.8 2.6 6.8 10.4 10.5 10.5 11.8 11.0 7.7 8.8 17

18 Mutual fund shares 2.3 2.6 8.1 9.2 11.1 12.4 12.2 12.5 13.8 15.9 16.0 18

19 Customers’ liab. on acceptances (2) 22.3 23.4 20.6 11.3 8.2 8.7 9.0 8.4 7.5 7.4 6.6 19

20 Miscellaneous assets 797.8 823.7 934.0 1079.1 1108.3 1120.8 1151.7 1201.4 1221.5 1220.1 1288.0 20

21 Total liabilities 4333.2 4547.4 5053.0 5519.3 5836.9 5932.5 6138.2 6253.0 6364.7 6389.7 6503.1 21

22 Net interbank liabilities 220.5 171.1 143.5 120.6 113.9 116.3 155.1 121.1 124.6 62.1 107.6 22

23 To monetary authority 0.2 4.4 2.8 1.7 -0.0 0.0 0.5 0.7 1.0 0.2 -0.2 23

24 To domestic banks (3) -9.0 -10.6 -32.2 -27.0 -25.5 -13.9 -11.6 -17.6 -4.3 1.7 5.3 24

25 To foreign banks 229.3 177.3 173.0 145.9 139.4 130.2 166.2 138.0 127.9 60.2 102.5 25

26 Checkable deposits 710.8 676.3 656.4 623.0 626.2 574.9 574.0 537.0 541.0 495.3 503.4 26

27 Federal government 19.0 28.7 27.8 13.2 49.6 37.5 48.7 39.3 16.4 2.2 2.2 27

28 Rest of the world 24.1 26.9 31.7 30.2 43.6 29.9 31.4 32.6 34.1 34.8 33.8 28

29 Private domestic 667.7 620.7 597.0 579.7 533.1 507.4 493.9 465.1 490.5 458.4 467.5 29

30 Small time and savings deposits 1490.1 1613.2 1761.5 1945.2 2016.5 2077.5 2100.3 2156.2 2229.8 2311.6 2342.1 30

31 Large time deposits 387.8 493.1 601.0 673.3 792.3 816.4 833.6 864.5 887.2 900.0 904.8 31

32 Federal funds and security RPs (net) 422.2 463.2 552.2 639.2 749.8 777.6 827.4 827.5 813.4 838.7 823.6 32

33 Credit market instruments 250.6 263.6 309.2 382.1 449.3 463.6 494.7 502.0 509.3 540.3 543.8 33

34 Open market paper 52.8 55.7 58.5 56.9 63.1 59.7 61.7 62.9 63.6 71.2 69.4 34

35 Corporate bonds 161.1 168.9 192.6 220.2 240.6 248.9 258.4 266.6 273.2 293.1 295.4 35

36 Other loans and advances 36.7 39.0 58.1 104.9 145.6 155.0 174.6 172.6 172.4 176.1 179.0 36

37 Taxes payable 2.8 4.0 5.4 7.1 9.0 9.5 10.0 10.6 11.1 11.7 12.3 37

38 Miscellaneous liabilities 848.4 863.0 1023.7 1128.7 1079.9 1096.8 1143.2 1234.1 1248.4 1230.0 1265.5 38

 Memo:

39 Credit market funds advanced (4) 3520.1 3707.7 4031.9 4335.7 4643.9 4725.0 4847.4 4931.0 5002.3 5015.7 5050.6 39

(1) U.S.-chartered commercial banks, foreign banking offices in U.S., bank holding companies, and banks in U.S.-affiliated areas. IBFs are excluded from domestic banking and treated the

 same as branches in foreign countries.

(2) Included in other loans and advances (table L.216).

(3) Floats and discrepancies in interbank transactions.

(4) Total bank credit (line 5) less security credit (line 16) less corporate equities (line 17) less mutual fund shares (line 18) plus customers’ liability on acceptances (line 19).
70 Z.1, September 18, 2001

L.110 U.S.-Chartered Commercial Banks

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 3321.7 3444.5 3742.2 4094.2 4433.0 4507.6 4627.6 4700.2 4772.9 4788.5 4830.2 1

 2 Vault cash and reserves at Federal Reserve 66.6 66.3 71.2 65.5 87.1 51.4 53.3 50.6 62.0 52.3 54.4 2

 3 Total bank credit 3116.3 3231.5 3512.2 3844.4 4161.3 4263.5 4381.3 4453.3 4512.3 4524.1 4566.4 3

 4 U.S. government securities 629.1 609.7 664.0 703.5 730.9 752.2 747.1 729.3 714.2 690.8 691.6 4

 5 Treasury 207.6 173.0 166.8 124.7 122.8 125.3 116.4 108.6 87.9 72.2 69.9 5

 6 Agency 421.5 436.7 497.2 578.8 608.1 626.9 630.7 620.7 626.3 618.6 621.7 6

 7 Mortgage pool securities 195.1 216.6 247.7 301.4 283.6 289.8 289.9 283.5 297.8 308.2 323.5 7

 8 Agency-issued CMOs 101.0 89.5 107.0 115.9 120.8 120.4 119.2 108.8 111.0 114.7 116.4 8

 9 Other agency securities 125.3 130.7 142.4 161.5 203.7 216.8 221.6 228.5 217.6 195.7 181.8 9

10 Municipal securities 92.7 93.7 96.1 104.4 110.1 111.2 111.7 112.7 113.3 112.3 115.8 10

11 Corporate and foreign bonds 69.3 64.8 85.8 118.2 161.5 156.2 162.6 195.7 214.0 229.7 242.1 11

12 Private mortgage pool securities 4.5 4.2 3.0 3.9 4.8 3.5 2.5 3.4 4.1 7.9 8.6 12

13 Privately issued CMOs 24.9 21.8 22.5 42.8 48.5 46.1 47.0 51.0 56.5 57.5 64.0 13

14 Other bonds 39.8 38.9 60.4 71.5 108.2 106.6 113.2 141.3 153.4 164.3 169.5 14

15 Total loans 2317.9 2453.9 2655.6 2902.4 3137.3 3221.1 3337.1 3391.2 3446.0 3467.8 3492.0 15

16 Open market paper 3.9 4.2 2.3 0.8 0.7 0.7 0.6 0.6 0.9 0.0 0.0 16

17 Bank loans n.e.c. 701.6 759.8 867.9 1012.2 1104.4 1131.9 1178.7 1186.5 1202.6 1197.5 1179.3 17

18 Mortgages 1045.4 1102.9 1208.4 1304.2 1464.8 1515.0 1581.1 1614.7 1626.3 1654.4 1688.8 18

19 Consumer credit 502.0 526.8 512.6 508.9 499.8 497.1 506.2 521.8 541.5 533.7 540.2 19

20 Security credit 65.1 60.2 64.4 76.3 67.6 76.5 70.5 67.5 74.7 82.2 83.7 20

21 Corporate equities 5.0 6.8 2.6 6.8 10.4 10.5 10.5 11.8 11.0 7.7 8.8 21

22 Mutual fund shares 2.3 2.6 8.1 9.2 11.1 12.4 12.2 12.5 13.8 15.9 16.0 22

23 Customers’ liab. on acceptances (1) 12.3 13.9 13.7 9.1 6.6 7.1 7.3 6.8 5.9 6.0 5.3 23

24 Miscellaneous assets 126.6 132.8 145.2 175.2 177.9 185.7 185.8 189.6 192.8 206.1 204.1 24

25 Total liabilities 3457.6 3598.7 3959.7 4366.8 4684.0 4789.8 4958.9 5023.0 5107.0 5152.1 5242.6 25

26 Net interbank liabilities 54.4 0.4 2.9 25.1 55.7 57.1 103.0 87.9 77.8 84.4 125.4 26

27 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 -0.2 -0.0 0.4 0.9 0.2 -0.4 27

28 Borrowing from Federal Reserve banks 0.1 0.1 2.0 0.0 0.2 0.2 0.5 0.4 0.1 0.0 0.2 28

29 To domestic banks -20.0 -41.8 -50.2 -51.0 -65.1 -65.0 -66.2 -65.1 -73.8 -52.6 -25.6 29

30 To foreign banks 74.1 37.8 50.4 74.4 120.8 122.1 168.7 152.3 150.6 136.8 151.2 30

31 Checkable deposits 695.8 661.4 640.3 605.9 608.6 558.4 556.5 520.8 523.8 478.7 486.2 31

32 Federal government 19.0 28.7 27.8 13.2 49.6 37.5 48.7 39.3 16.4 2.2 2.2 32

33 Rest of the world 18.1 21.6 26.0 24.8 37.6 24.4 25.3 27.5 28.4 29.3 30.9 33

34 Private domestic 658.6 611.1 586.5 567.9 521.5 496.5 482.5 454.0 479.0 447.2 453.1 34

35 Small time and savings deposits 1471.3 1594.2 1738.0 1924.4 1996.8 2058.0 2079.7 2136.2 2207.2 2290.4 2314.0 35

36 Large time deposits 256.5 306.1 369.3 404.1 465.6 480.4 511.4 530.0 553.5 548.8 551.3 36

37 Federal funds and security RPs (net) 379.6 408.2 471.7 538.5 667.3 693.7 721.3 705.5 680.1 698.5 706.0 37

38 Acceptance liabilities 12.3 14.0 13.7 9.1 6.6 7.0 7.2 6.8 6.0 6.0 5.4 38

39 Corporate bonds 43.3 50.9 61.6 72.1 75.8 78.3 81.6 83.9 86.4 89.9 89.0 39

40 Other loans and advances 36.7 39.0 58.1 104.9 145.6 155.0 174.6 172.6 172.4 176.1 179.0 40

41 Taxes payable 2.8 4.0 5.4 7.1 9.0 9.5 10.0 10.6 11.1 11.7 12.3 41

42 Miscellaneous liabilities 505.0 520.6 598.7 675.5 653.0 692.5 713.6 768.7 788.7 767.6 774.2 42

43 Investment by bank holding companies 344.3 372.9 413.6 469.0 471.9 492.1 501.0 514.8 525.4 541.8 567.8 43

44 Other 160.7 147.7 185.1 206.6 181.2 200.4 212.6 253.9 263.3 225.8 206.4 44

 Memo:

45 Credit market funds advanced (2) 3056.1 3175.8 3450.7 3761.2 4078.9 4171.3 4295.4 4368.2 4418.7 4424.4 4463.2 45

(1) Included in other loans and advances (table L.216).

(2) Total bank credit (line 3) less security credit (line 20) less corporate equities (line 21) less mutual fund shares (line 22) plus customers’ liability on acceptances (line 23).
Z.1, September 18, 2001 71

L.111 Foreign Banking Offices in U.S. (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 666.3 714.8 811.3 806.5 756.1 720.1 743.2 769.9 785.9 757.8 768.0 1

 2 Reserves at Federal Reserve 0.8 1.1 2.9 1.0 1.4 0.5 0.6 0.4 0.5 0.6 0.5 2

 3 Total bank credit 436.9 507.0 567.2 568.6 539.7 547.2 556.4 577.3 607.0 622.9 598.7 3

 4 U.S. government securities 99.6 130.4 157.3 151.8 163.6 157.4 151.1 159.1 163.6 173.1 160.4 4

 5 Treasury 62.3 80.7 95.1 84.8 92.3 86.9 81.6 89.0 91.7 97.8 106.2 5

 6 Agency 37.3 49.7 62.2 67.0 71.3 70.5 69.5 70.1 71.9 75.3 54.2 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 33.5 36.6 41.3 47.1 42.0 43.0 43.0 43.7 49.6 45.9 69.8 8

 9 Total loans 303.9 339.9 368.6 369.7 334.1 346.8 362.3 374.5 393.8 403.9 368.5 9

10 Open market paper 1.7 2.3 0.4 0.3 0.6 0.8 0.8 0.7 0.6 0.6 0.0 10

11 Bank loans n.e.c. 232.6 264.8 284.0 282.2 259.9 262.2 263.9 265.1 275.7 276.8 262.5 11

12 Mortgages 35.1 32.2 26.1 20.6 16.4 17.0 17.5 17.3 17.1 17.1 16.8 12

13 Security credit 34.4 40.6 58.0 66.6 57.2 66.8 80.1 91.5 100.5 109.4 89.3 13

14 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Customers’ liab. on acceptances (2) 10.1 9.4 6.9 2.2 1.6 1.6 1.7 1.6 1.6 1.5 1.2 15

16 Miscellaneous assets 218.5 197.2 234.3 234.6 213.3 170.7 184.4 190.5 176.8 132.9 167.6 16

17 Total liabilities 681.3 731.9 830.8 828.7 781.5 746.3 770.3 797.9 814.9 787.7 798.9 17

18 Net interbank liabilities 181.0 178.6 148.2 92.8 51.6 21.3 14.9 2.5 10.1 -30.2 -13.8 18

19 To foreign banks 173.6 162.1 144.4 92.7 44.2 13.1 4.5 -4.3 -14.4 -47.7 -54.6 19

20 To domestic banks 7.5 16.5 3.8 0.1 7.4 8.1 10.4 6.8 24.4 17.5 40.8 20

21 Checkable deposits 8.7 8.0 8.8 8.6 9.1 8.3 9.3 8.1 8.8 8.2 8.5 21

22 Small time and savings deposits 8.5 8.7 13.1 9.5 7.5 7.2 7.7 6.5 9.0 7.7 13.5 22

23 Large time deposits 121.0 176.6 221.3 257.8 314.5 323.7 309.3 321.0 320.1 337.8 339.0 23

24 Federal funds and security RPs (net) 43.2 55.1 80.7 100.4 82.1 83.2 104.9 120.9 134.5 139.6 116.9 24

25 Acceptance liabilities 10.4 9.6 7.2 2.4 2.0 2.0 2.0 1.9 2.0 1.8 1.4 25

26 Miscellaneous liabilities 308.5 295.2 351.5 357.2 314.7 300.7 322.2 337.0 330.5 322.8 333.4 26

27 Foreign direct investment in U.S. 32.7 30.3 38.8 44.2 63.3 68.4 68.9 69.7 72.9 73.2 77.1 27

28 Due to affiliates 50.7 64.5 78.8 90.6 93.0 114.6 114.5 119.9 138.7 142.3 137.3 28

29 Other 225.1 200.5 233.9 222.4 158.4 117.7 138.8 147.4 119.0 107.3 119.0 29

 Memo:

30 Credit market funds advanced (3) 412.6 475.8 516.1 504.2 484.1 482.0 478.1 487.5 508.1 515.0 510.7 30

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank.

(2) Included in other loans and advances (table L.216).

(3) Total bank credit (line 3) less security credit (line 13) less corporate equities (line 14) plus customers’ liability on acceptances (line 15).
72 Z.1, September 18, 2001

L.112 Bank Holding Companies

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 466.8 510.8 575.3 685.9 741.0 778.1 795.7 833.4 865.7 896.4 930.1 1

 2 Credit market instruments 18.0 22.0 27.4 26.5 32.7 22.1 23.0 21.3 20.5 22.3 21.6 2

 3 U.S. government securities 8.1 9.0 9.5 7.5 14.1 5.7 6.0 6.2 5.6 6.2 6.0 3

 4 Treasury issues 3.4 4.0 4.0 0.9 8.8 0.9 1.1 1.1 0.8 0.8 0.9 4

 5 Agency 4.7 4.9 5.5 6.6 5.4 4.7 5.0 5.1 4.8 5.4 5.1 5

 6 Corporate and foreign bonds 7.7 10.5 15.5 14.8 15.9 14.6 12.9 13.3 13.2 13.4 12.9 6

 7 Bank loans n.e.c. 2.3 2.5 2.4 4.1 2.6 1.9 4.0 1.8 1.6 2.7 2.7 7

 8 Miscellaneous assets 448.7 488.9 547.9 659.5 708.4 756.0 772.7 812.1 845.2 874.1 908.5 8

 9 Investment in bank subsidiaries 344.3 372.9 413.6 469.0 471.9 492.1 501.0 514.8 525.4 541.8 567.8 9

10 Investment in nonbank subsidiaries 64.7 64.9 89.9 134.0 151.2 184.4 184.9 198.9 213.5 227.3 232.1 10

11 Other 39.8 51.1 44.4 56.5 85.4 79.6 86.8 98.4 106.3 105.0 108.6 11

12 Total liabilities 157.1 178.3 218.8 270.6 314.5 338.9 349.7 370.0 382.5 390.0 400.3 12

13 Net interbank liabilities -14.9 -7.9 -7.6 2.7 6.6 37.9 37.2 30.7 36.7 7.9 -4.0 13

14 To domestic banks 3.5 14.7 14.3 23.9 32.1 43.0 44.2 40.7 45.1 36.7 -9.9 14

15 To foreign banks -18.5 -22.6 -21.9 -21.3 -25.5 -5.0 -7.0 -10.0 -8.4 -28.8 5.9 15

16 Federal funds and security RPs (net) -0.5 -0.2 -0.2 0.4 0.5 0.7 1.2 1.1 -1.1 0.6 0.7 16

17 Credit market instruments 148.0 150.0 168.6 193.5 219.3 221.4 229.3 236.9 242.5 266.5 269.1 17

18 Commercial paper 30.1 32.0 37.6 45.4 54.5 50.8 52.4 54.1 55.7 63.4 62.7 18

19 Corporate bonds 117.9 118.0 131.0 148.1 164.8 170.6 176.8 182.7 186.8 203.2 206.4 19

20 Miscellaneous liabilities 24.6 36.3 57.9 74.1 88.1 78.9 82.1 101.4 104.4 115.0 134.6 20

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

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

 1 Total financial assets 39.0 40.3 45.8 55.5 59.2 59.9 61.8 64.7 63.3 63.0 64.6 1

 2 Checkable deposits and currency 1.6 1.4 1.4 2.0 2.2 1.9 2.1 1.4 1.7 1.9 1.7 2

 3 Credit market instruments 33.4 34.1 37.8 43.8 48.3 49.6 51.0 54.0 55.0 54.1 55.1 3

 4 U.S. government securities 9.4 8.4 10.5 13.8 16.3 16.2 16.5 18.2 19.6 17.6 17.5 4

 5 Treasury 5.4 4.1 4.2 3.6 2.8 2.5 2.4 2.2 1.8 1.2 1.0 5

 6 Agency 4.0 4.3 6.3 10.2 13.5 13.7 14.2 16.0 17.8 16.4 16.5 6

 7 Municipal securities 0.7 0.5 0.5 0.5 0.6 0.7 0.7 0.7 0.7 0.4 0.4 7

 8 Corporate and foreign bonds 0.4 0.3 0.4 1.0 0.5 0.4 0.4 0.7 0.8 1.5 1.2 8

 9 Bank loans n.e.c. 13.1 14.6 15.5 16.3 16.9 17.8 18.0 18.4 18.0 18.1 18.4 9

10 Home mortgages 5.7 6.3 6.4 7.5 8.1 8.4 9.0 9.4 9.1 7.1 7.5 10

11 Commercial mortgages 4.0 3.9 4.4 4.8 6.0 6.1 6.4 6.7 6.8 9.5 10.1 11

12 Miscellaneous assets 4.0 4.8 6.6 9.7 8.7 8.4 8.8 9.2 6.6 7.1 7.8 12

13 Total liabilities 37.2 38.6 43.7 53.1 56.9 57.5 59.3 62.0 60.4 59.8 61.3 13

14 Checkable deposits 6.4 6.9 7.3 8.5 8.5 8.2 8.2 8.1 8.4 8.4 8.8 14

15 Small time and savings deposits 10.2 10.4 10.4 11.4 12.2 12.3 12.9 13.5 13.6 13.4 14.5 15

16 Large time deposits 10.2 10.4 10.4 11.4 12.2 12.3 12.9 13.5 13.6 13.4 14.5 16

17 Miscellaneous liabilities 10.3 10.9 15.6 21.9 24.1 24.7 25.3 26.9 24.8 24.5 23.4 17

(1) Commercial banks and branches of U.S.-chartered commercial banks located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.
Z.1, September 18, 2001 73

L.114 Savings Institutions (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 1012.8 1031.7 1028.6 1088.4 1151.4 1160.4 1182.5 1202.9 1218.6 1254.9 1273.9 1

 2 Reserves at Federal Reserve 2.7 2.3 1.8 1.9 2.0 1.6 1.6 1.1 1.0 1.0 1.0 2

 3 Checkable deposits and currency 15.5 14.2 15.2 18.4 20.1 16.3 17.5 17.5 19.7 19.6 21.7 3

 4 Time and savings deposits 1.1 1.4 1.0 1.5 1.3 1.9 1.3 1.1 1.4 1.7 2.4 4

 5 Federal funds and security RPs 11.2 10.0 9.2 14.8 10.6 11.5 12.0 14.7 14.9 21.7 22.0 5

 6 Credit market instruments 913.3 933.2 928.5 964.6 1033.2 1045.8 1062.5 1082.2 1089.7 1101.6 1116.1 6

 7 Open market paper 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 U.S. government securities 183.0 173.4 169.8 153.7 157.4 152.2 149.1 148.4 149.3 153.5 158.2 8

 9 Treasury 18.4 17.4 14.6 10.2 10.1 9.9 9.1 8.8 8.7 8.0 7.5 9

10 Agency 164.6 156.1 155.3 143.6 147.3 142.2 140.0 139.6 140.6 145.5 150.7 10

11 Municipal securities 2.0 2.1 2.1 2.5 3.0 3.1 3.0 3.0 3.2 3.9 4.0 11

12 Corporate and foreign bonds 78.5 68.6 58.7 88.6 112.0 115.7 110.6 107.3 109.5 96.0 93.1 12

13 Other loans and advances 12.8 15.7 18.8 24.2 30.7 33.4 35.4 37.9 39.3 41.4 43.8 13

14 Mortgages 596.8 628.3 631.8 644.0 668.6 682.4 703.5 723.1 723.8 741.4 751.7 14

15 Consumer credit 40.1 44.7 47.2 51.6 61.5 59.0 61.0 62.5 64.6 65.5 65.3 15

16 Corporate equities 14.3 17.8 23.3 24.5 23.8 23.7 24.2 24.4 24.2 24.6 25.6 16

17 Miscellaneous assets 54.7 52.9 49.7 62.8 60.3 59.5 63.4 61.9 67.7 84.7 85.1 17

18 Total liabilities 995.1 1010.5 1001.0 1058.6 1120.4 1129.4 1150.7 1170.4 1186.7 1222.8 1241.3 18

19 Deposits 727.9 721.4 695.7 693.1 699.9 705.3 707.0 718.4 727.4 750.0 755.5 19

20 Checkable 97.1 122.4 149.5 185.6 222.7 234.0 244.7 254.9 265.9 278.7 291.9 20

21 Small time and savings 550.7 512.5 448.2 393.8 354.9 342.2 331.0 324.1 319.4 318.9 307.2 21

22 Large time 80.1 86.4 98.1 113.7 122.2 129.1 131.3 139.4 142.2 152.4 156.4 22

23 Security RPs 44.5 43.7 41.8 51.3 72.7 73.5 75.0 81.2 66.7 67.1 69.6 23

24 Credit market instruments 115.0 140.5 160.3 212.4 260.4 266.9 280.7 276.0 287.7 295.1 294.5 24

25 Corporate bonds 3.1 2.7 2.8 2.6 2.7 2.7 2.7 3.4 6.3 2.8 6.4 25

26 Bank loans n.e.c. 14.6 15.9 19.4 29.7 14.0 20.4 21.3 20.8 21.5 22.6 21.7 26

27 Other loans and advances 97.4 121.9 138.0 180.1 243.7 243.8 256.7 251.8 260.0 269.7 266.4 27

28 Taxes payable 1.6 1.4 1.8 2.0 2.0 1.7 1.8 2.1 2.4 2.3 2.0 28

29 Miscellaneous liabilities 106.1 103.5 101.4 99.8 85.4 82.0 86.1 92.7 102.5 108.4 119.7 29

30 Investment by parent 4.5 4.7 5.0 5.4 6.0 6.1 6.3 6.4 6.6 6.8 7.0 30

31 Other 101.6 98.8 96.4 94.4 79.4 75.9 79.8 86.2 95.9 101.6 112.7 31

(1) Savings and loan associations, mutual savings banks, and federal savings banks.
74 Z.1, September 18, 2001

L.115 Credit Unions

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 310.7 330.1 353.8 391.5 414.5 428.3 429.7 435.6 441.1 463.5 476.2 1

 2 Checkable deposits and currency 7.4 7.5 8.1 9.1 26.4 26.4 24.0 17.6 12.2 15.0 18.1 2

 3 Time and savings deposits 17.1 16.4 17.0 23.4 16.6 18.8 16.6 15.2 17.1 20.2 18.7 3

 4 Federal funds and security RPs 6.4 1.4 3.5 6.8 9.3 9.6 2.8 7.8 4.0 10.8 8.3 4

 5 Credit market instruments 263.0 288.5 305.3 324.2 351.7 359.0 370.1 376.0 382.2 381.7 391.2 5

 6 Open market paper 0.6 0.3 0.2 0.4 1.9 0.8 0.3 1.2 1.2 1.1 1.6 6

 7 U.S. government securities 64.1 68.1 66.7 71.5 70.9 74.8 74.7 69.5 69.2 71.5 72.2 7

 8 Treasury 18.3 17.4 15.6 13.1 9.6 9.4 8.8 8.6 8.2 7.4 6.6 8

 9 Agency 45.7 50.7 51.0 58.4 61.3 65.4 65.8 60.9 60.9 64.2 65.7 9

10 Home mortgages 66.5 76.0 86.0 96.9 111.0 114.1 119.1 124.0 127.4 126.1 130.3 10

11 Consumer credit 131.9 144.1 152.4 155.4 167.9 169.2 176.0 181.3 184.4 182.9 187.0 11

12 Mutual fund shares 2.8 2.6 2.4 3.6 2.5 3.2 2.3 2.2 2.2 2.0 3.6 12

13 Miscellaneous assets 13.9 13.7 17.6 24.3 8.0 11.3 13.9 16.7 23.4 33.8 36.3 13

14 Total liabilities 283.7 300.1 320.6 355.3 376.1 388.7 389.5 394.1 398.1 419.3 431.3 14

15 Shares/deposits 278.8 295.1 315.4 349.0 366.7 380.7 380.5 383.5 389.1 415.6 426.3 15

16 Checkable 30.9 32.5 36.6 43.0 45.4 51.3 50.4 50.9 51.3 55.2 54.2 16

17 Small time and savings 238.9 251.2 264.4 287.5 299.8 308.3 307.6 310.6 312.7 334.8 342.8 17

18 Large time 9.0 11.4 14.4 18.5 21.6 21.1 22.5 22.0 25.1 25.6 29.3 18

19 Other loans and advances 0.4 0.4 0.6 1.1 3.4 2.6 2.9 3.1 3.4 3.2 3.5 19

20 Miscellaneous liabilities 4.5 4.6 4.6 5.2 6.0 5.4 6.1 7.5 5.6 0.5 1.5 20

L.116 Bank Personal Trusts and Estates (1)

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

 1 Total financial assets 774.9 841.2 917.7 976.3 1104.1 1131.4 1087.5 1079.6 992.1 901.7 936.9 1

 2 Deposits 44.7 51.1 48.2 54.4 62.7 63.8 65.1 65.9 67.0 68.0 69.0 2

 3 Checkable deposits and currency 0.5 0.8 0.8 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 3

 4 Time and savings deposits 10.5 9.0 10.0 7.8 8.7 9.0 9.2 9.3 9.4 9.5 9.6 4

 5 Money market fund shares 33.6 41.4 37.4 46.2 53.7 54.5 55.6 56.3 57.4 58.2 59.2 5

 6 Credit market instruments 239.7 232.0 207.0 194.1 222.0 226.7 230.2 234.6 239.1 241.8 245.1 6

 7 Open market paper 23.7 21.1 21.0 16.5 17.1 17.3 17.4 17.6 17.7 16.7 15.8 7

 8 U.S. government securities 70.8 71.3 61.2 56.8 62.5 63.3 64.1 65.2 66.3 66.7 67.4 8

 9 Treasury 27.5 25.7 20.4 17.3 17.3 17.1 16.9 16.7 16.5 16.2 15.8 9

10 Agency 43.3 45.6 40.8 39.4 45.2 46.2 47.2 48.5 49.8 50.6 51.6 10

11 Municipal securities 108.3 104.0 90.7 89.5 100.3 102.1 103.0 104.3 105.0 105.8 106.3 11

12 Corporate and foreign bonds 33.6 31.9 31.1 28.5 39.8 41.8 43.5 45.4 48.0 50.5 53.6 12

13 Mortgages 3.3 3.6 3.0 2.8 2.2 2.2 2.2 2.1 2.1 2.0 2.0 13

14 Corporate equities 224.9 248.9 321.0 314.0 338.3 345.1 323.8 318.6 280.0 239.8 251.9 14

15 Mutual fund shares 253.5 293.2 326.9 390.8 460.6 475.8 449.2 441.3 387.0 333.4 352.2 15

16 Miscellaneous assets 12.1 16.0 14.6 23.0 20.5 20.0 19.3 19.3 19.0 18.7 18.6 16

17 Total liabilities (2) 803.0 871.3 942.5 1001.0 1130.4 1158.0 1114.4 1106.7 1019.4 929.1 964.4 17

(1) Includes personal trusts and estates administered by nondeposit noninsured trust companies.

(2) Equal to value of tangible and financial assets. These liabilities are assets of the household sector.
Z.1, September 18, 2001 75

L.117 Life Insurance Companies

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 2063.6 2246.3 2514.8 2769.5 3067.9 3155.5 3153.0 3203.9 3135.7 3103.0 3223.6 1

 2 Checkable deposits and currency 5.2 4.3 8.1 5.4 5.5 4.0 5.6 3.7 5.0 17.8 15.1 2

 3 Money market fund shares 22.8 61.9 92.8 110.4 133.8 135.1 133.7 136.6 142.3 164.7 186.7 3

 4 Credit market instruments 1587.5 1657.0 1751.1 1828.0 1886.0 1902.2 1914.1 1935.1 1943.9 1967.2 1991.0 4

 5 Open market paper 45.5 48.4 65.9 73.4 75.8 72.0 73.7 75.2 71.2 60.4 53.5 5

 6 U.S. government securities 351.0 337.4 312.1 288.4 287.1 289.7 290.3 292.5 293.5 297.4 297.7 6

 7 Treasury 108.1 93.2 85.5 71.3 62.8 61.7 60.5 59.5 58.1 53.8 48.8 7

 8 Agency 242.9 244.1 226.7 217.0 224.4 228.0 229.8 233.0 235.4 243.6 249.0 8

 9 Municipal securities 11.9 13.4 16.7 18.4 20.1 20.0 19.6 19.4 19.1 19.5 20.3 9

10 Corporate and foreign bonds 870.1 949.3 1046.0 1130.4 1173.2 1192.5 1198.2 1212.2 1222.2 1252.0 1280.3 10

11 Policy loans 95.9 100.5 103.7 103.8 99.0 98.7 99.6 101.1 101.9 102.9 103.1 11

12 Mortgages 213.1 208.2 206.8 213.6 230.8 229.4 232.6 234.7 235.9 235.1 236.1 12

13 Corporate equities 315.4 414.1 558.6 733.2 964.5 1027.6 1007.8 1023.3 940.8 873.2 955.1 13

14 Mutual fund shares 27.7 35.3 38.4 23.3 43.3 47.8 48.6 51.1 48.1 42.6 46.1 14

15 Miscellaneous assets 105.1 73.7 65.7 69.2 34.9 38.7 43.1 54.0 55.6 37.5 29.6 15

16 Total liabilities 1953.9 2115.6 2359.7 2599.7 2882.8 2963.5 2958.8 3003.1 2937.0 2898.9 3006.2 16

17 Other loans and advances 0.5 1.6 1.8 2.5 3.2 3.0 2.7 2.7 2.5 1.9 1.9 17

18 Life insurance reserves 536.3 580.1 632.7 684.7 748.9 765.7 770.6 782.7 782.7 786.5 807.5 18

19 Pension fund reserves (1) 880.6 953.9 1086.1 1209.9 1367.3 1414.2 1403.2 1424.9 1373.8 1335.8 1405.1 19

20 Taxes payable 12.0 12.5 13.7 14.9 16.2 16.5 16.9 17.3 17.8 18.2 18.7 20

21 Miscellaneous liabilities 524.6 567.5 625.4 687.7 747.2 764.1 765.3 775.4 760.3 756.5 773.0 21

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 21).

L.118 Other Insurance Companies

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

 1 Total financial assets 740.3 770.0 843.5 879.1 875.9 879.8 877.6 879.3 871.6 851.4 866.1 1

 2 Checkable deposits and currency 4.9 3.9 4.2 4.0 4.3 3.1 2.7 3.1 3.7 10.6 9.6 2

 3 Security RPs 37.5 35.4 35.2 42.7 28.3 34.8 35.3 35.8 38.3 27.8 29.0 3

 4 Credit market instruments 468.7 491.2 515.3 521.1 518.2 515.4 510.8 512.4 509.4 510.0 510.7 4

 5 U.S. government securities 181.6 171.8 161.9 140.0 136.2 135.8 135.4 136.4 136.2 133.3 131.8 5

 6 Treasury 133.4 120.9 91.1 70.4 60.6 58.3 56.0 54.3 52.1 48.1 44.1 6

 7 Agency 48.2 51.0 70.8 69.7 75.5 77.5 79.4 82.1 84.1 85.2 87.7 7

 8 Municipal securities 161.0 175.4 191.6 208.1 199.0 194.7 190.4 188.1 184.1 185.3 186.1 8

 9 Corporate and foreign bonds 123.3 141.6 159.5 171.1 181.1 182.3 183.3 186.2 187.5 189.7 191.2 9

10 Commercial mortgages 2.8 2.4 2.2 2.0 1.9 2.5 1.8 1.7 1.6 1.6 1.6 10

11 Corporate equities 134.2 148.6 186.0 200.1 207.9 205.3 203.9 199.4 194.3 172.2 184.7 11

12 Trade receivables 57.3 57.2 59.9 61.5 63.6 66.1 67.2 68.7 64.6 67.6 68.6 12

13 Miscellaneous assets 37.8 33.6 42.8 49.7 53.8 55.1 57.7 60.0 61.4 63.3 63.7 13

14 Total liabilities 510.7 521.4 535.7 543.3 557.7 560.1 565.7 570.7 565.9 570.1 572.3 14

15 Taxes payable 9.0 11.6 13.4 15.4 17.4 17.9 18.5 19.0 19.7 20.3 21.0 15

16 Miscellaneous liabilities 501.6 509.9 522.3 527.9 540.3 542.2 547.2 551.7 546.3 549.8 551.3 16
76 Z.1, September 18, 2001

L.119 Private Pension Funds (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 2923.4 3251.1 3746.5 4204.5 4674.0 4823.1 4743.8 4796.8 4587.2 4284.3 4422.1 1

 2 Checkable deposits and currency 4.8 5.4 6.6 6.9 8.0 8.2 8.3 8.6 8.7 8.9 9.0 2

 3 Time and savings deposits 106.6 111.9 119.4 120.9 116.9 116.7 118.0 117.8 118.8 117.9 116.8 3

 4 Money market fund shares 37.5 48.4 61.4 63.4 75.1 75.5 75.6 78.6 81.0 83.4 85.9 4

 5 Security RPs 22.1 26.7 27.6 28.6 29.0 29.1 29.2 29.5 29.9 29.0 29.3 5

 6 Credit market instruments 631.2 627.0 674.6 731.0 775.9 787.6 793.8 810.0 817.2 823.7 828.8 6

 7 Open market paper 24.4 30.1 31.3 34.1 37.8 35.9 36.0 36.3 36.0 32.8 30.6 7

 8 U.S. government securities 356.3 343.1 354.9 389.5 419.5 429.3 432.4 441.7 446.4 447.1 443.6 8

 9 Treasury 142.2 139.4 143.5 139.1 138.5 137.8 139.6 139.7 137.7 131.2 129.2 9

10 Agency 214.2 203.7 211.4 250.3 280.9 291.5 292.9 302.0 308.6 315.9 314.5 10

11 Corporate and foreign bonds 242.0 244.9 278.7 295.8 305.1 308.4 311.0 317.3 319.7 328.3 338.8 11

12 Mortgages 8.4 9.0 9.7 11.5 13.5 14.0 14.3 14.8 15.1 15.5 15.8 12

13 Corporate equities 1289.2 1463.9 1696.4 1902.2 2156.9 2231.2 2153.2 2158.3 2001.1 1793.9 1862.6 13

14 Mutual fund shares 326.8 412.3 569.6 709.3 830.1 881.1 871.5 891.4 837.6 752.0 800.0 14

15 Miscellaneous assets 505.2 555.5 590.9 642.3 682.1 693.7 694.1 702.5 692.9 675.5 689.6 15

16 Unallocated insurance contracts (2) 332.2 361.1 381.9 422.8 457.1 467.2 465.0 471.5 460.7 442.5 455.2 16

17 Contributions receivable 82.4 86.4 93.5 95.4 96.4 96.7 96.9 97.2 97.4 97.7 97.9 17

18 Other 90.6 108.0 115.4 124.1 128.6 129.8 132.1 133.8 134.8 135.3 136.4 18

19 Pension fund reserves (liabilities) (3) 2964.0 3295.2 3793.6 4255.4 4728.0 4877.9 4799.4 4853.3 4644.6 4342.5 4481.1 19

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans). Also includes the Federal Employees Retirement System Thrift Savings Plan.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(3) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.

L.120 State and Local Government Employee Retirement Funds

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

 1 Total financial assets 1303.3 1494.6 1817.1 2054.1 2226.8 2236.5 2242.0 2292.0 2289.6 2168.5 2229.7 1

 2 Checkable deposits and currency 4.2 7.5 5.3 10.0 9.2 11.1 12.5 12.0 9.1 7.2 8.0 2

 3 Time and savings deposits 4.5 2.3 2.4 2.0 1.7 2.4 2.7 4.4 1.1 0.8 2.0 3

 4 Security RPs 31.5 28.2 28.6 37.5 40.4 45.4 46.8 45.1 44.7 42.5 41.5 4

 5 Credit market instruments 529.6 565.4 632.5 704.6 751.4 767.2 775.1 784.5 801.0 804.3 808.8 5

 6 Open market paper 31.5 28.2 28.6 37.5 40.4 45.4 46.8 45.1 44.7 42.5 41.5 6

 7 U.S. government securities 291.1 308.4 340.2 360.1 376.4 371.9 385.9 387.8 393.5 391.3 391.0 7

 8 Treasury 191.7 203.5 216.9 217.7 211.2 211.1 210.5 200.7 195.7 195.3 191.0 8

 9 Agency 99.4 104.9 123.3 142.4 165.3 160.8 175.5 187.2 197.8 196.0 200.0 9

10 Municipal securities 1.8 0.6 1.5 3.3 3.0 2.9 2.8 2.2 1.6 1.8 1.5 10

11 Corporate and foreign bonds 189.2 211.4 244.5 279.6 310.0 325.3 318.5 327.9 339.7 346.6 352.0 11

12 Mortgages 15.9 16.7 17.6 24.1 21.5 21.7 21.0 21.5 21.5 22.1 22.8 12

13 Corporate equities 678.9 828.5 1084.8 1233.9 1343.2 1331.0 1322.5 1360.9 1344.6 1220.7 1275.2 13

14 Miscellaneous assets 54.6 62.8 63.5 66.1 81.0 79.4 82.3 85.0 89.0 92.9 94.2 14

15 Pension fund reserves (liabilities) (1) 1320.4 1514.6 1842.0 2085.4 2262.3 2272.8 2280.8 2332.4 2331.5 2211.9 2274.4 15

(1) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.
Z.1, September 18, 2001 77

L.121 Money Market Mutual Funds (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 741.3 886.7 1042.5 1329.7 1578.8 1666.0 1627.1 1697.8 1812.1 1994.7 2014.8 1

 2 Foreign deposits 19.7 23.1 23.2 30.6 42.9 56.4 73.5 75.5 91.1 112.9 110.4 2

 3 Checkable deposits and currency -3.5 -1.1 1.5 -1.0 -2.2 -3.0 -3.6 0.0 2.2 -3.9 -2.8 3

 4 Time and savings deposits 52.3 82.7 111.3 127.0 160.4 157.7 125.1 129.3 136.6 173.3 171.5 4

 5 Security RPs 87.8 103.8 126.6 139.5 139.6 158.3 169.4 172.0 183.0 205.9 208.2 5

 6 Credit market instruments 545.5 634.3 721.9 965.9 1147.8 1217.1 1159.4 1212.5 1296.7 1403.8 1414.6 6

 7 Open market paper 235.5 273.9 336.0 414.2 519.0 576.0 566.4 589.3 614.4 641.9 638.2 7

 8 U.S. government securities 160.8 192.0 182.5 277.5 294.7 271.7 236.8 241.7 275.6 344.3 361.3 8

 9 Treasury 70.0 90.2 86.2 103.6 103.8 98.9 78.8 79.8 90.4 96.3 93.4 9

10 Agency 90.8 101.8 96.3 173.8 190.9 172.7 158.1 161.9 185.2 248.0 267.9 10

11 Municipal securities 127.7 144.5 167.0 193.0 210.4 225.8 221.5 227.6 244.8 256.0 255.2 11

12 Corporate and foreign bonds 21.5 23.9 36.4 81.2 123.7 143.6 134.6 153.9 161.9 161.6 159.9 12

13 Miscellaneous assets 39.4 43.8 58.1 67.7 90.4 79.6 103.4 108.5 102.5 102.6 112.8 13

14 Total shares outstanding (liabilities) 741.3 886.7 1042.5 1329.7 1578.8 1666.0 1627.1 1697.8 1812.1 1994.7 2014.8 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117).

L.122 Mutual Funds (1)

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

 1 Total financial assets 1852.8 2342.4 2989.4 3610.5 4553.4 4863.3 4759.6 4814.4 4457.2 3999.8 4269.9 1

 2 Security RPs 50.2 47.5 57.8 68.2 76.7 77.4 92.5 102.4 103.4 86.6 91.2 2

 3 Credit market instruments 771.3 820.2 901.1 1025.9 1073.1 1053.7 1073.9 1088.5 1099.9 1113.8 1151.5 3

 4 Open market paper 50.2 47.2 57.8 68.2 76.7 77.4 92.5 102.4 103.4 86.6 87.7 4

 5 U.S. government securities 315.1 330.2 349.7 375.8 388.4 380.2 387.4 389.3 398.7 409.4 426.7 5

 6 Treasury 205.3 214.2 225.2 230.4 236.6 232.9 236.0 236.8 240.6 244.9 251.4 6

 7 Agency 109.9 116.1 124.5 145.5 151.8 147.2 151.4 152.5 158.1 164.6 175.3 7

 8 Municipal securities 210.2 213.3 219.8 242.6 239.4 232.3 227.9 228.4 230.5 236.0 239.7 8

 9 Corporate and foreign bonds 195.7 229.5 273.8 339.3 368.6 363.9 366.0 368.3 367.3 381.8 397.4 9

10 Corporate equities 1024.9 1470.0 2018.7 2508.5 3400.0 3730.2 3591.3 3620.9 3250.8 2797.6 3025.6 10

11 Miscellaneous assets 6.3 4.7 11.8 7.9 3.6 1.9 1.9 2.6 3.1 1.7 1.6 11

12 Total shares outstanding (liabilities) 1852.8 2342.4 2989.4 3610.5 4553.4 4863.3 4759.6 4814.4 4457.2 3999.8 4269.9 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117).

L.123 Closed-End Funds

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

 1 Total financial assets 134.3 144.4 149.0 151.0 156.3 155.8 151.6 149.6 142.8 135.8 136.3 1

 2 Credit market instruments 96.2 100.8 98.3 103.7 111.1 109.0 106.9 104.8 102.7 100.6 98.5 2

 3 U.S. government securities 11.3 11.4 10.2 9.3 8.0 8.0 7.9 7.8 7.7 7.6 7.6 3

 4 Municipal securities 59.4 60.8 59.9 61.8 70.5 69.3 68.2 67.0 65.9 64.7 63.6 4

 5 Corporate and foreign bonds 25.5 28.6 28.1 32.6 32.6 31.7 30.8 30.0 29.1 28.2 27.3 5

 6 Corporate equities 38.2 43.6 50.7 47.3 45.2 46.8 44.7 44.8 40.1 35.2 37.8 6

 Memo:

 7 Market value of equities 134.3 144.4 149.0 151.0 156.3 155.8 151.6 149.6 142.8 135.8 136.3 7
78 Z.1, September 18, 2001

L.124 Government-Sponsored Enterprises (GSEs) (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 896.9 988.6 1099.4 1403.8 1720.6 1752.3 1812.1 1881.8 1969.4 2057.3 2125.3 1

 2 Checkable deposits and currency 1.5 0.7 1.9 4.4 11.8 0.7 1.2 1.0 2.1 2.0 2.7 2

 3 Federal funds and security RPs 106.3 94.5 90.4 77.0 89.7 90.6 80.9 93.7 88.1 103.2 94.9 3

 4 Credit market instruments 761.7 832.8 939.4 1253.9 1545.6 1584.0 1649.2 1704.3 1793.7 1866.5 1944.5 4

 5 Open market paper 25.5 35.1 34.0 60.9 33.8 38.1 34.8 42.2 50.6 38.3 48.4 5

 6 U.S. government securities 248.3 276.3 352.4 514.7 699.2 723.5 737.6 774.7 835.4 895.2 936.2 6

 7 Treasury 58.0 18.8 25.9 25.2 30.9 25.2 20.7 19.0 22.1 23.3 25.4 7

 8 Agency 190.3 257.6 326.5 489.6 668.3 698.4 717.0 755.6 813.3 871.9 910.8 8

 9 Municipal securities 5.6 5.6 5.2 9.2 10.6 9.2 9.1 9.9 8.8 9.9 12.0 9

10 Corporate and foreign bonds 31.0 41.8 47.1 67.8 91.5 94.2 106.5 113.9 117.3 125.2 138.8 10

11 Other loans and advances 200.3 229.1 260.3 352.6 466.2 472.9 505.4 503.5 514.6 527.9 530.1 11

12 Sallie Mae 37.9 36.2 30.9 29.5 34.6 32.4 31.9 36.3 37.8 38.4 39.6 12

13 Farm Credit System 30.2 31.6 31.6 34.9 35.8 36.2 36.8 37.4 38.9 39.0 40.1 13

14 FHLB 132.3 161.4 197.8 288.2 395.7 404.3 436.6 429.8 437.9 450.5 450.3 14

15 Mortgages 251.0 244.9 240.5 248.7 244.4 246.1 255.7 260.1 267.1 270.0 279.1 15

16 Home 205.2 198.5 194.3 199.6 189.3 189.8 197.6 200.5 205.1 206.3 211.9 16

17 Multifamily residential 19.0 18.6 17.3 18.1 22.9 24.2 25.3 26.2 27.8 28.8 30.7 17

18 Farm 26.8 27.9 28.9 31.0 32.2 32.1 32.8 33.5 34.2 34.9 36.4 18

19 Miscellaneous assets 27.5 60.6 67.8 68.5 73.5 77.0 80.8 82.8 85.5 85.5 83.2 19

20 Total liabilities 873.4 964.1 1070.3 1368.9 1681.1 1711.8 1770.0 1837.6 1922.5 2011.2 2076.3 20

21 Credit market instruments 806.5 896.9 995.3 1273.6 1591.7 1618.0 1680.2 1749.7 1825.8 1891.4 1957.6 21

22 GSE issues (2) 806.5 896.9 995.3 1273.6 1591.7 1618.0 1680.2 1749.7 1825.8 1891.4 1957.6 22

23 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Miscellaneous liabilities 66.9 67.2 75.1 95.3 89.3 93.8 89.8 87.9 96.7 119.8 118.7 24

(1) Federal Home Loan Banks, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Farm Credit System, the Financing Corporation, the Resolution

 Funding Corporation, and the Student Loan Marketing Association (Sallie Mae), which is a subsidiary of USA Education, Inc., a private company chartered in 1997.

(2) Such issues are classified as U.S. government securities.

L.125 Federally Related Mortgage Pools (1)

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

 1 Total financial assets 1570.3 1711.3 1825.8 2018.4 2292.2 2322.1 2355.2 2414.3 2491.6 2534.2 2635.8 1

 2 Home mortgages 1543.4 1678.8 1788.1 1970.2 2234.7 2263.0 2294.1 2351.4 2425.6 2464.9 2561.8 2

 3 Multifamily residential mortgages 26.9 32.5 37.8 48.3 57.5 59.1 61.0 63.0 66.0 69.3 74.1 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Total pool securities (liabilities)(2) 1570.3 1711.3 1825.8 2018.4 2292.2 2322.1 2355.2 2414.3 2491.6 2534.2 2635.8 6

(1) GNMA, FNMA, FHLMC, and Farmers Home Administration pools. Also includes federally related pools which are used as collateral for federally related agency-issued 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 U.S. government securities.
Z.1, September 18, 2001 79

L.126 Issuers of Asset-Backed Securities (ABSs)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 709.1 854.6 1065.8 1385.4 1611.6 1646.9 1689.0 1735.1 1822.9 1886.0 1935.0 1

 2 Agency securities (1) 132.9 137.8 141.5 179.7 221.0 226.4 226.2 225.7 223.8 233.7 222.7 2

 3 Other loans and advances 30.6 44.0 76.2 103.8 113.0 124.3 125.4 128.3 138.3 138.1 139.3 3

 4 Student loans 1.0 6.3 14.1 17.9 19.4 22.8 24.5 30.7 29.9 30.5 30.5 4

 5 Loans to business 29.6 37.7 62.1 85.9 93.6 101.5 100.9 97.6 108.4 107.6 108.9 5

 6 Mortgages (2) 278.2 326.3 407.0 563.5 655.5 669.1 687.7 708.6 740.7 769.5 814.4 6

 7 Home 224.3 256.2 310.7 405.2 455.0 463.5 471.9 484.6 499.8 523.3 539.2 7

 8 Multifamily residential 11.9 15.9 20.9 33.8 42.2 43.1 44.4 46.1 49.5 50.7 57.0 8

 9 Commercial 41.9 54.2 75.4 124.6 158.3 162.6 171.4 177.8 191.4 195.5 218.3 9

10 Consumer credit 211.6 265.8 313.1 372.4 435.1 434.0 447.0 460.3 500.1 519.2 529.5 10

11 Trade receivables 55.7 80.7 128.1 165.9 187.0 193.1 202.7 212.2 220.0 225.5 229.0 11

12 Total liabilities 712.5 863.3 1076.6 1398.0 1621.4 1655.8 1697.0 1742.3 1829.6 1892.2 1940.8 12

13 Commercial paper 101.2 146.7 256.1 381.8 520.8 546.6 570.3 595.7 641.8 653.3 670.3 13

14 Corporate bonds 611.3 716.6 820.5 1016.2 1100.6 1109.1 1126.7 1146.6 1187.8 1238.9 1270.5 14

 Memo:

 Securitized assets not included above

15 Consumer leases (3) 3.5 8.7 10.8 12.6 9.7 8.9 7.9 7.3 6.7 6.3 5.8 15

16 REIT assets (4) 7.6 7.4 11.1 13.9 12.9 13.0 12.3 11.6 10.7 10.1 10.0 16

(1) Federally related mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

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

 The leased automobile is a tangible asset.

(4) Included in table L.129.

L.127 Finance Companies (1)

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

 1 Total financial assets 672.3 714.6 757.4 827.6 973.5 1007.7 1041.2 1070.8 1100.4 1102.2 1123.8 1

 2 Checkable deposits and currency 16.6 18.5 20.6 22.8 25.3 25.9 26.6 27.2 27.9 28.6 29.3 2

 3 Credit market instruments 526.2 544.5 566.4 618.4 713.3 747.0 780.6 795.5 812.6 809.4 829.6 3

 4 Other loans and advances 301.6 309.5 318.5 347.5 405.2 434.6 454.1 455.7 471.1 471.7 481.5 4

 5 Mortgages 72.4 82.7 87.9 102.3 126.5 128.8 136.2 142.4 148.3 151.8 157.1 5

 6 Consumer credit 152.1 152.4 160.0 168.5 181.6 183.7 190.3 197.3 193.2 185.9 191.0 6

 7 Miscellaneous assets 129.6 151.5 170.4 186.5 234.9 234.7 234.1 248.1 259.9 264.2 264.9 7

 8 Total liabilities 691.2 741.0 777.6 839.2 975.1 1029.7 1064.7 1098.5 1132.9 1134.1 1160.2 8

 9 Credit market instruments 483.9 529.8 554.5 597.5 659.9 670.7 712.7 716.5 734.6 721.4 727.1 9

10 Open market paper 168.6 177.6 201.5 231.5 227.9 230.2 234.2 215.6 235.2 178.2 177.3 10

11 Corporate bonds 300.0 332.5 328.8 339.7 397.0 412.0 445.1 465.5 463.8 501.8 504.6 11

12 Bank loans n.e.c. 15.3 19.7 24.1 26.3 35.1 28.5 33.3 35.4 35.6 41.4 45.2 12

13 Taxes payable 4.9 5.7 6.5 7.3 8.1 8.3 8.6 8.8 9.1 9.3 9.6 13

14 Miscellaneous liabilities 202.4 205.5 216.7 234.4 307.1 350.6 343.4 373.2 389.2 403.3 423.6 14

15 Foreign direct investment in U.S. 24.8 29.7 35.7 38.3 49.7 47.8 48.6 49.9 67.3 73.2 77.9 15

16 Investment by parent 51.1 60.3 64.7 61.8 123.8 145.1 136.8 144.3 146.5 138.4 145.9 16

17 Other 126.5 115.6 116.3 134.3 133.5 157.7 158.0 179.0 175.4 191.7 199.8 17

 Memo:

18 Consumer leases not included above (2) 80.8 92.5 96.8 93.3 98.3 101.7 103.9 104.6 102.9 101.3 99.7 18

(1) Includes retail captive finance companies.

(2) See footnote (3), table L.126.
80 Z.1, September 18, 2001

L.128 Mortgage Companies

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 33.0 41.2 32.1 35.3 35.6 34.1 35.5 35.4 35.9 36.2 36.5 1

 2 Home mortgages 23.8 32.0 21.8 24.9 25.2 23.7 25.1 24.9 25.4 25.8 26.0 2

 3 Multifamily residential mortgages 4.2 4.1 5.2 5.3 5.3 5.3 5.3 5.3 5.4 5.4 5.4 3

 4 Commercial mortgages 5.1 5.1 5.1 5.1 5.1 5.1 5.1 5.1 5.1 5.1 5.1 4

 5 Total liabilities 33.0 41.2 32.1 35.3 35.6 34.1 35.5 35.4 35.9 36.2 36.5 5

 6 Bank loans n.e.c. 16.5 20.6 16.0 17.7 17.8 17.1 17.8 17.7 17.9 18.1 18.2 6

 7 Investment by parent 16.5 20.6 16.0 17.7 17.8 17.1 17.8 17.7 17.9 18.1 18.3 7

L.129 Real Estate Investment Trusts (REITs)

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

 1 Total financial assets 33.3 38.2 64.3 70.7 68.4 64.9 63.2 63.2 62.1 63.5 65.3 1

 2 Checkable deposits and currency 0.0 2.2 3.3 4.1 4.4 4.5 4.2 3.8 4.3 4.1 4.6 2

 3 Credit market instruments 26.0 30.4 50.6 45.5 42.9 38.8 38.2 37.3 36.6 37.6 37.9 3

 4 Agency securities 9.0 12.2 21.2 13.1 14.2 14.1 13.1 13.9 14.5 13.9 17.4 4

 5 Corporate and foreign bonds 2.9 4.3 6.5 6.1 5.7 5.6 6.4 5.7 5.3 7.4 5.2 5

 6 Mortgages 14.1 13.8 22.9 26.3 23.0 19.2 18.6 17.8 16.8 16.3 15.3 6

 7 Home 6.9 8.0 14.0 14.8 12.4 8.8 8.3 8.0 7.9 7.8 7.6 7

 8 Multifamily residential 1.6 1.2 2.1 2.1 1.6 1.4 1.6 1.5 1.3 1.2 1.2 8

 9 Commercial 5.6 4.6 6.9 9.4 9.0 9.0 8.7 8.2 7.6 7.4 6.5 9

10 Miscellaneous assets 7.3 5.6 10.5 21.2 21.1 21.5 20.8 22.0 21.1 21.8 22.8 10

11 Total liabilities 62.2 79.4 139.0 205.6 216.8 216.8 219.0 220.6 217.5 221.9 219.2 11

12 Security RPs 10.9 13.7 24.9 15.1 15.7 13.0 11.2 12.4 11.9 13.1 15.1 12

13 Credit market instruments 44.6 56.5 96.1 158.8 165.1 167.9 170.4 169.8 167.8 166.2 166.8 13

14 Open market paper 0.0 0.0 0.0 0.2 0.1 0.1 1.0 0.2 0.2 0.1 0.0 14

15 Corporate bonds 15.5 16.8 31.6 53.4 62.2 63.9 67.2 68.6 67.0 70.0 66.5 15

16 Bank loans n.e.c. 5.0 7.8 17.6 33.6 26.0 25.5 21.2 18.6 17.7 15.0 15.2 16

17 Mortgages 24.1 31.9 46.8 71.6 76.7 78.5 81.0 82.5 82.9 81.1 85.1 17

18 Miscellaneous liabilities 6.7 9.2 18.0 31.6 36.0 35.9 37.4 38.5 37.8 42.6 37.3 18

 Memo:

19 Securitized assets included above 7.6 7.4 11.1 13.9 12.9 13.0 12.3 11.6 10.7 10.1 10.0 19

20 Agency securities 4.2 4.5 4.9 5.0 3.7 3.8 3.7 3.6 3.5 3.4 3.1 20

21 Home mortgages 3.5 2.6 5.7 7.5 7.6 7.9 7.3 6.7 6.7 6.2 6.0 21

22 Multifamily residential mortgages 0.0 0.3 0.4 0.8 0.9 0.8 0.7 0.7 0.4 0.4 0.5 22

23 Commercial mortgages 0.0 0.0 0.0 0.6 0.7 0.6 0.6 0.6 0.1 0.1 0.4 23
Z.1, September 18, 2001 81

L.130 Security Brokers and Dealers

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 568.1 636.4 779.2 921.2 1001.0 1130.3 1130.1 1205.3 1217.4 1211.5 1333.3 1

 2 Checkable deposits and currency 13.7 15.7 21.7 25.4 28.7 27.0 26.9 20.6 30.3 31.0 37.0 2

 3 Credit market instruments 183.4 167.7 182.6 189.4 154.7 194.6 187.9 243.3 223.6 317.7 288.4 3

 4 Open market paper 22.1 23.7 24.3 28.0 26.0 30.2 38.2 45.4 39.2 44.6 44.8 4

 5 U.S. government securities 72.3 42.4 45.1 66.7 23.3 43.5 30.7 70.4 60.4 136.4 97.9 5

 6 Treasury 18.3 -12.8 -5.3 15.8 -42.6 -6.8 -24.4 7.8 -3.3 61.1 1.6 6

 7 Agency 54.0 55.2 50.4 50.9 66.0 50.3 55.1 62.6 63.7 75.3 96.3 7

 8 Municipal securities 12.7 10.8 13.2 13.1 11.9 10.8 9.9 10.8 11.3 12.7 13.7 8

 9 Corporate and foreign bonds 76.4 90.9 100.0 81.4 93.4 110.0 109.1 116.6 112.7 124.0 132.0 9

10 Corporate equities 34.2 37.9 51.9 54.4 66.9 74.4 74.5 81.5 75.3 78.3 89.8 10

11 Security credit 78.6 94.4 131.2 152.8 227.9 282.4 267.8 271.4 233.7 195.8 195.9 11

12 Miscellaneous assets 258.2 320.7 391.8 499.3 522.8 552.0 573.0 588.5 654.5 588.8 722.1 12

13 Total liabilities 535.5 597.5 729.2 866.2 937.7 1060.6 1059.2 1133.2 1144.1 1136.8 1257.9 13

14 Security RPs (net) 182.4 180.9 203.5 208.1 245.2 285.1 271.4 317.6 302.4 287.0 332.8 14

15 Corporate bonds 29.3 27.3 35.3 42.5 25.3 36.4 36.2 42.6 40.9 35.0 43.9 15

16 Trade payables 10.3 14.3 19.9 18.9 30.9 33.7 39.4 35.9 35.9 35.3 33.3 16

17 Security credit 227.1 263.7 337.9 419.6 448.7 513.0 507.8 529.0 583.9 603.6 585.8 17

18 Customer credit balances (HH) 127.6 162.9 215.5 276.7 323.9 369.6 357.2 370.0 408.7 412.0 412.8 18

19 From banks 99.5 100.8 122.5 142.9 124.8 143.4 150.6 159.0 175.2 191.6 173.0 19

20 Taxes payable 1.1 1.3 1.3 1.3 2.2 2.4 1.7 1.8 2.1 1.2 1.3 20

21 Miscellaneous liabilities 85.4 110.1 131.1 175.8 185.5 190.0 202.7 206.4 178.9 174.7 260.7 21

22 Foreign direct investment in U.S. 11.1 8.8 8.5 10.1 15.8 16.4 16.8 17.4 16.7 17.8 18.3 22

23 Due to affiliates 132.9 175.7 245.7 338.2 395.6 416.7 428.7 437.8 454.1 482.9 479.4 23

24 Other -58.6 -74.4 -123.1 -172.5 -225.9 -243.2 -242.7 -248.8 -291.8 -326.1 -237.0 24

L.131 Funding Corporations (1)

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

 1 Total financial assets 394.1 499.2 612.7 719.8 976.6 1004.5 1056.5 1062.2 1100.7 1109.5 1084.9 1

 2 Money market fund shares 120.2 147.5 157.9 215.8 264.7 267.3 264.5 286.4 298.2 325.1 356.1 2

 3 Credit market instruments 108.4 121.0 166.7 155.3 288.8 294.5 341.3 320.7 325.4 292.3 246.0 3

 4 Open market paper 84.6 84.5 133.6 117.7 255.0 270.7 310.2 296.8 291.5 248.7 192.7 4

 5 Corporate and foreign bonds 23.8 36.5 33.1 37.6 33.8 23.8 31.1 23.9 33.9 43.6 53.3 5

 6 Miscellaneous assets (2) 165.5 230.7 288.0 348.7 423.1 442.7 450.7 455.1 477.1 492.0 482.7 6

 7 Investment in foreign banking offices 50.7 64.5 78.8 90.6 93.0 114.6 114.5 119.9 138.7 142.3 137.3 7

 8 Investment in brokers and dealers 114.8 166.3 209.2 258.2 330.1 328.1 336.2 335.2 338.4 349.7 345.5 8

 9 Total liabilities 394.1 499.2 612.7 719.8 976.6 1004.5 1056.5 1062.2 1100.7 1109.5 1084.9 9

10 Credit market instruments 248.6 312.7 373.7 414.4 506.6 510.1 505.1 511.9 507.3 526.9 482.9 10

11 Open market paper 164.2 199.1 229.6 236.3 271.1 279.0 268.0 277.2 269.9 278.1 227.4 11

12 Corporate bonds 84.4 113.6 144.2 178.2 235.5 231.1 237.1 234.7 237.5 248.9 255.5 12

13 Miscellaneous liabilities 145.5 186.5 239.0 305.3 470.0 494.4 551.5 550.3 593.3 582.5 602.0 13

14 Foreign direct investment in U.S. -83.1 -82.0 -85.7 -65.7 -83.5 -67.4 -54.3 -56.8 -30.3 -34.9 -0.2 14

15 Securities loaned (net) 216.2 276.1 333.3 403.3 419.5 446.1 467.5 470.0 505.8 487.8 541.0 15

16 Other 12.4 -7.6 -8.6 -32.2 133.9 115.7 138.3 137.1 117.9 129.6 61.1 16

(1) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations.

(2) Due from affiliated companies.
82 Z.1, September 18, 2001

L.200 Gold and Official Foreign Exchange Holdings (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total U.S. reserves 85.8 75.1 70.0 81.8 71.6 70.8 68.0 66.3 67.5 64.7 63.3 1

 2 U.S. gold stock and SDRs 22.1 21.4 21.1 21.6 21.4 21.4 21.5 21.4 21.5 21.5 21.6 2

 3 Federal govt.: Exchange Stab. Fund 11.0 10.3 10.0 10.6 10.4 10.3 10.4 10.3 10.5 10.4 10.6 3

 4 Monetary authority (2) 11.1 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 4

 5 U.S. foreign exchange position 63.7 53.7 48.9 60.1 50.1 49.4 46.5 44.9 46.0 43.3 41.7 5

 6 Official foreign currency holdings 49.1 38.3 30.8 36.0 32.2 31.5 31.0 31.2 30.9 29.4 27.3 6

 7 Treasury 28.0 19.0 13.8 16.2 16.0 15.7 15.5 15.6 15.3 14.9 12.9 7

 8 Monetary authority 21.1 19.3 17.0 19.8 16.1 15.8 15.6 15.6 15.7 14.6 14.4 8

 9 Net IMF position 14.6 15.4 18.1 24.1 18.0 17.9 15.4 13.7 15.1 13.8 14.5 9

10 Federal government 14.7 15.5 18.2 24.2 18.0 18.0 15.5 13.8 15.2 13.9 14.5 10

11 Monetary authority -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 11

(1) Lines 1, 2, and 3 include increases in SDRs through allocations, which occurred at various dates beginning January 1970. Also included in the table are revaluations of

 foreign currency holdings, gold, SDRs, and IMF position. These allocations and revaluations are excluded from tables on flows.

(2) Treasury gold stock.

L.201 SDR Certificates and Treasury Currency

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

 SDR certificates:

 1 Liab: Federal government 10.2 9.7 9.2 9.2 6.2 6.2 4.2 3.2 2.2 2.2 2.2 1

 2 Asset: Monetary authority 10.2 9.7 9.2 9.2 6.2 6.2 4.2 3.2 2.2 2.2 2.2 2

 Treasury currency:

 3 Liab: Federal government 18.3 18.9 19.3 19.9 20.9 21.4 22.1 23.2 23.2 22.9 23.2 3

 4 Asset: Monetary authority 24.0 25.0 25.6 26.3 28.0 29.0 30.0 30.8 31.6 32.3 32.6 4

 5 Discrepancy (seigniorage) -5.7 -6.1 -6.3 -6.4 -7.1 -7.6 -7.9 -7.6 -8.5 -9.4 -9.4 5

L.202 U.S. Deposits in Foreign Countries

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

 1 Total rest of the world liability 418.8 521.7 618.5 642.3 703.6 781.9 782.8 772.6 824.5 883.4 846.8 1

 Held by:

 2 Household sector 23.4 35.5 37.2 38.3 43.5 48.6 48.6 48.0 51.3 49.8 45.8 2

 3 Nonfinancial corporate business 15.6 26.1 21.0 28.4 26.1 20.2 24.4 37.7 22.2 16.3 13.3 3

 4 Money market mutual funds 19.7 23.1 23.2 30.6 42.9 56.4 73.5 75.5 91.1 112.9 110.4 4

 5 Discrepancy--unallocated assets 360.2 437.0 537.1 544.9 591.1 656.7 636.3 611.5 659.9 704.4 677.4 5
Z.1, September 18, 2001 83

L.203 Net Interbank Transactions

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 290.7 240.8 219.4 189.0 204.5 169.7 210.6 173.2 188.0 116.0 163.4 1

 2 Monetary authority 70.2 69.7 75.8 68.4 90.6 53.4 55.5 52.1 63.4 53.9 55.8 2

 3 Depository institution reserves 29.6 24.5 30.8 26.3 24.0 18.2 18.5 17.6 19.0 17.8 18.6 3

 4 Vault cash 40.6 45.2 45.0 42.1 66.5 35.2 37.0 34.5 44.4 36.0 37.2 4

 5 Commercial banking 220.5 171.1 143.5 120.6 113.9 116.3 155.1 121.1 124.6 62.1 107.6 5

 6 To monetary authority 0.2 4.4 2.8 1.7 -0.0 0.0 0.5 0.7 1.0 0.2 -0.2 6

 7 To banks in foreign countries, net 229.3 177.3 173.0 145.9 139.4 130.2 166.2 138.0 127.9 60.2 102.5 7

 8 Liabilities, net 239.7 192.9 188.8 156.7 148.9 139.5 176.1 147.5 136.9 67.7 112.4 8

 9 U.S.-chartered commercial banks 79.6 48.5 62.0 85.1 130.1 131.4 178.2 161.2 158.9 144.0 160.7 9

10 Due to foreign affiliates 128.7 126.8 173.1 196.7 231.2 248.1 306.2 304.0 307.4 267.8 279.9 10

11 - Due from foreign affiliates 49.1 78.4 111.1 111.6 101.1 116.8 128.0 142.7 148.5 123.8 119.2 11

12 Foreign banking offices in U.S. 178.6 167.1 148.6 92.9 44.4 13.2 4.9 -3.8 -13.6 -47.5 -54.2 12

13 Due to foreign affiliates 99.9 110.4 99.7 133.0 141.5 151.8 126.6 105.1 133.1 153.0 133.1 13

14 - Due from foreign affiliates -78.7 -56.6 -48.8 40.1 97.1 138.6 121.7 108.8 146.7 200.5 187.3 14

15 Bank holding companies -18.5 -22.6 -21.9 -21.3 -25.5 -5.0 -7.0 -10.0 -8.4 -28.8 5.9 15

16 Due to foreign affiliates 3.0 2.7 3.0 2.9 8.3 0.0 0.0 0.0 0.0 8.5 48.8 16

17 - Due from foreign affiliates 21.4 25.3 24.9 24.2 33.9 5.0 7.0 10.0 8.4 37.3 43.0 17

18 Less: Deposits at foreign banks 10.4 15.6 15.8 10.8 9.5 9.4 9.9 9.5 9.0 7.5 9.9 18

19 U.S. chartered commercial banks 5.4 10.6 11.7 10.6 9.4 9.3 9.5 8.9 8.3 7.2 9.4 19

20 Foreign banking offices in U.S. 5.0 5.0 4.1 0.2 0.2 0.1 0.4 0.6 0.7 0.2 0.4 20

21 To U.S. banking, net -9.0 -10.6 -32.2 -27.0 -25.5 -13.9 -11.6 -17.6 -4.3 1.7 5.3 21

22 U.S.-chartered commercial banks -20.0 -41.8 -50.2 -51.0 -65.1 -65.0 -66.2 -65.1 -73.8 -52.6 -25.6 22

23 Liabilities 43.3 38.3 22.0 29.8 47.4 49.1 53.9 45.3 59.6 66.0 53.1 23

24 To foreign offices in U.S. 51.5 48.4 53.8 55.9 72.2 62.5 64.8 62.4 63.4 63.6 46.5 24

25 To bank holding companies 0.8 0.5 0.3 0.9 0.6 0.5 0.7 0.5 0.6 0.7 1.4 25

26 Unallocated -9.0 -10.6 -32.2 -27.0 -25.5 -13.9 -11.6 -17.6 -4.3 1.7 5.3 26

 Less, due from:

27 Foreign offices in U.S. 58.9 64.9 57.6 55.9 79.7 70.7 75.1 69.2 87.8 81.2 87.3 27

28 Bank holding companies 4.4 15.2 14.6 24.8 32.8 43.5 45.0 41.2 45.6 37.3 -8.5 28

29 Foreign banking offices in U.S. 7.5 16.5 3.8 0.1 7.4 8.1 10.4 6.8 24.4 17.5 40.8 29

30 Due to U.S. banks 58.9 64.9 57.6 55.9 79.7 70.7 75.1 69.2 87.8 81.2 87.3 30

31 - Due from U.S. banks 51.5 48.4 53.8 55.9 72.2 62.5 64.8 62.4 63.4 63.6 46.5 31

32 Bank holding companies 3.5 14.7 14.3 23.9 32.1 43.0 44.2 40.7 45.1 36.7 -9.9 32

33 Due to U.S. banks 4.4 15.2 14.6 24.8 32.8 43.5 45.0 41.2 45.6 37.3 -8.5 33

34 - Due from U.S. banks 0.8 0.5 0.3 0.9 0.6 0.5 0.7 0.5 0.6 0.7 1.4 34

35 Total assets 299.7 251.4 251.6 215.9 230.0 183.6 222.2 190.8 192.3 114.3 158.1 35

36 Rest of the world 229.3 177.3 173.0 145.9 139.4 130.2 166.2 138.0 127.9 60.2 102.5 36

37 Domestic 70.4 74.1 78.6 70.0 90.6 53.4 56.0 52.9 64.4 54.1 55.6 37

38 Monetary authority 0.2 4.4 2.8 1.7 -0.0 0.0 0.5 0.7 1.0 0.2 -0.2 38

39 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 -0.2 -0.0 0.4 0.9 0.2 -0.4 39

40 Loans to member banks 0.1 0.1 2.0 0.0 0.2 0.2 0.5 0.4 0.1 0.0 0.2 40

41 Commercial banking 67.5 67.5 74.1 66.5 88.5 51.8 53.9 51.0 62.4 52.9 54.8 41

42 Reserves at Federal Reserve 26.9 22.3 29.1 24.4 22.0 16.6 16.9 16.5 18.0 16.8 17.6 42

43 Vault cash 40.6 45.2 45.0 42.1 66.5 35.2 37.0 34.5 44.4 36.0 37.2 43

44 Savings insts.: Reserves at Fed. Res. 2.7 2.3 1.8 1.9 2.0 1.6 1.6 1.1 1.0 1.0 1.0 44

45 Discrepancy--floats, etc. -9.0 -10.6 -32.2 -27.0 -25.5 -13.9 -11.6 -17.6 -4.3 1.7 5.3 45
84 Z.1, September 18, 2001

L.204 Checkable Deposits and Currency

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 1229.1 1244.8 1286.1 1333.4 1484.8 1392.9 1409.7 1385.7 1413.3 1385.2 1416.8 1

 2 Monetary authority 390.3 413.6 443.5 481.8 590.4 532.7 540.6 542.9 555.2 556.1 567.2 2

 3 Federal government cash and deposits 6.2 8.0 5.7 6.2 28.5 4.5 6.3 8.6 5.6 6.1 7.6 3

 4 Deposits due to foreign 0.4 0.2 0.5 0.2 0.1 0.2 0.1 0.2 0.3 0.1 0.1 4

 5 Currency outside banks 383.7 405.5 437.4 475.4 561.8 528.0 534.1 534.1 549.3 549.8 559.4 5

 6 Commercial banking 710.8 676.3 656.4 623.0 626.2 574.9 574.0 537.0 541.0 495.3 503.4 6

 7 Federal government deposits 19.0 28.7 27.8 13.2 49.6 37.5 48.7 39.3 16.4 2.2 2.2 7

 8 Deposits due to foreign 24.1 26.9 31.7 30.2 43.6 29.9 31.4 32.6 34.1 34.8 33.8 8

 9 Private domestic deposits 667.7 620.7 597.0 579.7 533.1 507.4 493.9 465.1 490.5 458.4 467.5 9

10 Savings institutions 97.1 122.4 149.5 185.6 222.7 234.0 244.7 254.9 265.9 278.7 291.9 10

11 Credit unions 30.9 32.5 36.6 43.0 45.4 51.3 50.4 50.9 51.3 55.2 54.2 11

12 Total assets 1229.1 1244.8 1286.1 1333.4 1484.8 1392.9 1409.7 1385.7 1413.3 1385.2 1416.8 12

13 Household sector 495.9 425.2 368.3 360.0 278.5 258.2 218.2 202.0 231.2 231.9 232.1 13

14 Nonfinancial business 374.3 430.4 483.6 532.6 631.5 642.5 678.6 695.4 685.7 657.7 667.3 14

15 Corporate 252.9 289.8 320.5 335.4 410.1 415.1 440.6 453.5 440.0 407.1 411.6 15

16 Nonfarm noncorporate 104.7 124.0 146.2 178.3 203.3 209.6 220.4 224.4 228.3 233.3 238.5 16

17 Farm 16.7 16.7 16.9 18.8 18.0 17.8 17.6 17.5 17.4 17.2 17.1 17

18 State and local governments 33.3 27.8 32.2 28.3 32.1 27.2 27.0 25.7 33.2 30.2 33.1 18

19 Federal government 22.2 38.3 41.6 23.2 87.9 48.5 60.2 55.7 24.6 30.2 50.4 19

20 Rest of the world 193.8 213.7 243.6 258.4 298.3 277.8 280.3 282.3 290.1 292.9 294.7 20

21 Checkable deposits 24.5 27.1 32.2 30.4 43.7 30.1 31.6 32.8 34.4 34.9 33.9 21

22 Currency 169.2 186.6 211.4 228.0 254.6 247.7 248.7 249.5 255.7 258.0 260.8 22

23 Financial sectors 72.4 80.9 98.7 111.7 143.9 126.4 128.2 116.9 127.2 143.1 154.3 23

24 Commercial banking 1.6 1.4 1.4 2.0 2.2 1.9 2.1 1.4 1.7 1.9 1.7 24

25 Savings institutions 15.5 14.2 15.2 18.4 20.1 16.3 17.5 17.5 19.7 19.6 21.7 25

26 Credit unions 7.4 7.5 8.1 9.1 26.4 26.4 24.0 17.6 12.2 15.0 18.1 26

27 Bank personal trusts and estates 0.5 0.8 0.8 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 27

28 Life insurance companies 5.2 4.3 8.1 5.4 5.5 4.0 5.6 3.7 5.0 17.8 15.1 28

29 Other insurance companies 4.9 3.9 4.2 4.0 4.3 3.1 2.7 3.1 3.7 10.6 9.6 29

30 Private pension funds 4.8 5.4 6.6 6.9 8.0 8.2 8.3 8.6 8.7 8.9 9.0 30

31 State and local govt. retirement funds 4.2 7.5 5.3 10.0 9.2 11.1 12.5 12.0 9.1 7.2 8.0 31

32 Money market mutual funds -3.5 -1.1 1.5 -1.0 -2.2 -3.0 -3.6 0.0 2.2 -3.9 -2.8 32

33 Government-sponsored enterprises 1.5 0.7 1.9 4.4 11.8 0.7 1.2 1.0 2.1 2.0 2.7 33

34 Finance companies 16.6 18.5 20.6 22.8 25.3 25.9 26.6 27.2 27.9 28.6 29.3 34

35 REITs 0.0 2.2 3.3 4.1 4.4 4.5 4.2 3.8 4.3 4.1 4.6 35

36 Brokers and dealers 13.7 15.7 21.7 25.4 28.7 27.0 26.9 20.6 30.3 31.0 37.0 36

37 Mail float 37.2 28.5 18.1 19.3 12.5 12.3 17.3 7.7 21.4 -0.8 -15.2 37
Z.1, September 18, 2001 85

L.205 Time and Savings Deposits 

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 2756.6 2967.9 3187.5 3432.0 3607.3 3694.5 3726.2 3816.7 3916.4 4043.3 4082.6 1

 2 Small time and savings deposits 2279.7 2377.0 2474.1 2626.5 2671.2 2728.0 2738.8 2790.9 2861.9 2965.3 2992.0 2

 3 Commercial banking 1490.1 1613.2 1761.5 1945.2 2016.5 2077.5 2100.3 2156.2 2229.8 2311.6 2342.1 3

 4 U.S.-chartered commercial banks 1471.3 1594.2 1738.0 1924.4 1996.8 2058.0 2079.7 2136.2 2207.2 2290.4 2314.0 4

 5 Foreign banking offices in U.S. 8.5 8.7 13.1 9.5 7.5 7.2 7.7 6.5 9.0 7.7 13.5 5

 6 Banks in U.S.-affiliated areas 10.2 10.4 10.4 11.4 12.2 12.3 12.9 13.5 13.6 13.4 14.5 6

 7 Savings institutions 550.7 512.5 448.2 393.8 354.9 342.2 331.0 324.1 319.4 318.9 307.2 7

 8 Credit unions 238.9 251.2 264.4 287.5 299.8 308.3 307.6 310.6 312.7 334.8 342.8 8

 9 Large time deposits (1) 476.9 590.9 713.4 805.5 936.1 966.5 987.4 1025.9 1054.5 1078.0 1090.6 9

10 Commercial banking 387.8 493.1 601.0 673.3 792.3 816.4 833.6 864.5 887.2 900.0 904.8 10

11 U.S.-chartered commercial banks 256.5 306.1 369.3 404.1 465.6 480.4 511.4 530.0 553.5 548.8 551.3 11

12 Foreign banking offices in U.S. 121.0 176.6 221.3 257.8 314.5 323.7 309.3 321.0 320.1 337.8 339.0 12

13 Banks in U.S.-affiliated areas 10.2 10.4 10.4 11.4 12.2 12.3 12.9 13.5 13.6 13.4 14.5 13

14 Savings institutions 80.1 86.4 98.1 113.7 122.2 129.1 131.3 139.4 142.2 152.4 156.4 14

15 Credit unions 9.0 11.4 14.4 18.5 21.6 21.1 22.5 22.0 25.1 25.6 29.3 15

16 Total assets 2756.6 2967.9 3187.5 3432.0 3607.3 3694.5 3726.2 3816.7 3916.4 4043.3 4082.6 16

17 Household sector 2337.5 2490.1 2649.0 2840.8 2952.6 3050.0 3110.1 3193.5 3264.0 3359.9 3401.7 17

18 Nonfinancial business 114.4 118.6 122.0 126.1 140.1 134.3 137.0 138.4 143.0 144.5 146.0 18

19 Corporate 42.9 43.6 36.3 31.3 35.3 28.5 29.3 30.3 34.2 34.4 34.6 19

20 Nonfarm noncorporate 71.5 75.0 85.7 94.8 104.8 105.8 107.7 108.0 108.8 110.1 111.4 20

21 State and local governments 62.0 72.6 78.4 91.1 102.1 98.9 100.7 103.4 111.5 109.9 106.2 21

22 Federal government 0.9 2.4 3.4 4.7 5.4 5.5 5.7 6.2 6.3 8.4 9.9 22

23 Rest of the world 49.6 60.6 73.6 86.6 101.6 99.2 99.6 98.0 107.2 97.2 97.8 23

24 Financial sectors 192.2 223.7 261.1 282.6 305.6 306.5 273.0 277.2 284.4 323.5 320.9 24

25 Savings institutions 1.1 1.4 1.0 1.5 1.3 1.9 1.3 1.1 1.4 1.7 2.4 25

26 Credit unions 17.1 16.4 17.0 23.4 16.6 18.8 16.6 15.2 17.1 20.2 18.7 26

27 Bank personal trusts and estates 10.5 9.0 10.0 7.8 8.7 9.0 9.2 9.3 9.4 9.5 9.6 27

28 Private pension funds 106.6 111.9 119.4 120.9 116.9 116.7 118.0 117.8 118.8 117.9 116.8 28

29 State and local govt. retirement funds 4.5 2.3 2.4 2.0 1.7 2.4 2.7 4.4 1.1 0.8 2.0 29

30 Money market mutual funds 52.3 82.7 111.3 127.0 160.4 157.7 125.1 129.3 136.6 173.3 171.5 30

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

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

 1 Total assets 741.3 886.7 1042.5 1329.7 1578.8 1666.0 1627.1 1697.8 1812.1 1994.7 2014.8 1

 2 Household sector 450.1 500.7 582.3 747.1 871.6 951.2 914.4 936.9 1003.0 1093.4 1021.8 2

 3 Nonfinancial corporate business 60.0 67.6 87.8 114.3 137.3 139.3 140.0 155.9 177.7 210.3 238.4 3

 4 Nonfarm noncorporate business 17.0 19.2 22.9 32.6 42.6 43.1 43.2 47.2 52.6 59.6 66.6 4

 5 Bank personal trusts and estates 33.6 41.4 37.4 46.2 53.7 54.5 55.6 56.3 57.4 58.2 59.2 5

 6 Life insurance companies 22.8 61.9 92.8 110.4 133.8 135.1 133.7 136.6 142.3 164.7 186.7 6

 7 Private pension funds 37.5 48.4 61.4 63.4 75.1 75.5 75.6 78.6 81.0 83.4 85.9 7

 8 Funding corporations 120.2 147.5 157.9 215.8 264.7 267.3 264.5 286.4 298.2 325.1 356.1 8
86 Z.1, September 18, 2001

L.207 Federal Funds and Security Repurchase Agreements

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 660.0 701.5 822.4 913.7 1083.4 1149.2 1185.0 1238.7 1194.3 1206.0 1241.1 1

 2 Commercial banking (net) 422.2 463.2 552.2 639.2 749.8 777.6 827.4 827.5 813.4 838.7 823.6 2

 3 U.S.-chartered commercial banks 379.6 408.2 471.7 538.5 667.3 693.7 721.3 705.5 680.1 698.5 706.0 3

 4 Foreign banking offices in U.S. 43.2 55.1 80.7 100.4 82.1 83.2 104.9 120.9 134.5 139.6 116.9 4

 5 Bank holding companies -0.5 -0.2 -0.2 0.4 0.5 0.7 1.2 1.1 -1.1 0.6 0.7 5

 6 Savings institutions 44.5 43.7 41.8 51.3 72.7 73.5 75.0 81.2 66.7 67.1 69.6 6

 7 REITs 10.9 13.7 24.9 15.1 15.7 13.0 11.2 12.4 11.9 13.1 15.1 7

 8 Brokers and dealers (net) 182.4 180.9 203.5 208.1 245.2 285.1 271.4 317.6 302.4 287.0 332.8 8

 9 Total assets 552.7 591.7 649.5 680.2 819.9 738.9 762.2 792.7 819.9 848.3 853.6 9

10 Nonfinancial corporate business 2.4 3.9 4.6 4.2 5.3 6.1 4.2 4.0 5.2 4.7 4.0 10

11 State and local governments 115.7 147.8 151.4 158.5 163.5 176.4 174.0 177.0 173.3 178.0 182.3 11

12 Rest of the world 67.6 70.9 90.8 72.0 86.8 76.0 88.1 93.3 91.9 116.2 119.5 12

13 Financial sectors 366.9 369.2 402.7 445.4 564.2 480.4 495.9 518.4 549.5 549.5 547.8 13

14 Monetary authority 13.9 21.6 23.8 30.4 140.6 23.7 26.9 17.3 43.4 22.0 23.3 14

15 Savings institutions 11.2 10.0 9.2 14.8 10.6 11.5 12.0 14.7 14.9 21.7 22.0 15

16 Credit unions 6.4 1.4 3.5 6.8 9.3 9.6 2.8 7.8 4.0 10.8 8.3 16

17 Other insurance companies 37.5 35.4 35.2 42.7 28.3 34.8 35.3 35.8 38.3 27.8 29.0 17

18 Private pension funds 22.1 26.7 27.6 28.6 29.0 29.1 29.2 29.5 29.9 29.0 29.3 18

19 State and local govt. retirement funds 31.5 28.2 28.6 37.5 40.4 45.4 46.8 45.1 44.7 42.5 41.5 19

20 Money market mutual funds 87.8 103.8 126.6 139.5 139.6 158.3 169.4 172.0 183.0 205.9 208.2 20

21 Mutual funds 50.2 47.5 57.8 68.2 76.7 77.4 92.5 102.4 103.4 86.6 91.2 21

22 Government-sponsored enterprises 106.3 94.5 90.4 77.0 89.7 90.6 80.9 93.7 88.1 103.2 94.9 22

23 Discrepancy--unallocated assets 107.4 109.8 172.9 233.5 263.6 410.3 422.8 446.0 374.4 357.6 387.5 23

L.208 Open Market Paper

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

 1 Total outstanding, all types 700.4 803.0 979.4 1172.6 1402.4 1478.1 1533.3 1568.3 1610.0 1546.8 1477.9 1

 2 Commercial paper 677.7 779.4 958.5 1161.0 1393.8 1469.1 1524.0 1559.6 1602.1 1539.0 1471.1 2

 3 Nonfinancial corporate business 157.4 156.4 168.6 193.0 230.3 260.8 296.8 307.0 278.4 253.2 223.3 3

 4 Foreign issues in U.S. 56.2 67.5 65.1 72.9 89.2 101.6 101.2 109.8 120.9 112.8 110.1 4

 5 Nonfinancial 20.6 18.7 20.0 18.5 26.7 33.8 35.4 38.7 37.6 27.9 20.5 5

 6 Financial 35.6 48.8 45.0 54.4 62.5 67.8 65.9 71.1 83.3 84.9 89.6 6

 7 Financial business 464.2 555.5 724.8 895.2 1074.3 1106.7 1125.9 1142.8 1202.7 1173.0 1137.7 7

 8 Commercial banking 30.1 32.0 37.6 45.4 54.5 50.8 52.4 54.1 55.7 63.4 62.7 8

 9 ABS issuers 101.2 146.7 256.1 381.8 520.8 546.6 570.3 595.7 641.8 653.3 670.3 9

10 Finance companies 168.6 177.6 201.5 231.5 227.9 230.2 234.2 215.6 235.2 178.2 177.3 10

11 REITs 0.0 0.0 0.0 0.2 0.1 0.1 1.0 0.2 0.2 0.1 0.0 11

12 Funding corporations 164.2 199.1 229.6 236.3 271.1 279.0 268.0 277.2 269.9 278.1 227.4 12

13 Bankers acceptances (1) 22.6 23.6 20.9 11.5 8.6 9.0 9.3 8.7 7.9 7.8 6.8 13

14 Holdings, by sector 700.4 803.0 979.4 1172.6 1402.4 1478.1 1533.3 1568.3 1610.0 1546.8 1477.9 14

15 Household sector 48.0 54.7 56.1 63.7 67.7 68.9 70.2 71.4 72.7 67.2 62.7 15

16 Nonfinancial corporate business 20.1 31.5 36.1 39.4 43.7 38.3 37.1 40.3 43.3 42.9 39.0 16

17 State and local governments 39.4 59.7 74.0 102.0 103.9 105.6 110.0 109.0 111.5 112.5 108.2 17

18 Rest of the world 43.4 57.9 77.8 115.3 102.3 100.0 98.2 94.6 111.0 110.0 113.2 18

19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Commercial banking (1) 5.7 6.5 2.7 1.1 1.4 1.4 1.4 1.3 1.5 0.6 0.0 20

21 Savings institutions 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Credit unions 0.6 0.3 0.2 0.4 1.9 0.8 0.3 1.2 1.2 1.1 1.6 22

23 Bank personal trusts and estates 23.7 21.1 21.0 16.5 17.1 17.3 17.4 17.6 17.7 16.7 15.8 23

24 Life insurance companies 45.5 48.4 65.9 73.4 75.8 72.0 73.7 75.2 71.2 60.4 53.5 24

25 Private pension funds 24.4 30.1 31.3 34.1 37.8 35.9 36.0 36.3 36.0 32.8 30.6 25

26 State and local govt. retirement funds 31.5 28.2 28.6 37.5 40.4 45.4 46.8 45.1 44.7 42.5 41.5 26

27 Money market mutual funds 235.5 273.9 336.0 414.2 519.0 576.0 566.4 589.3 614.4 641.9 638.2 27

28 Mutual funds 50.2 47.2 57.8 68.2 76.7 77.4 92.5 102.4 103.4 86.6 87.7 28

29 Government-sponsored enterprises 25.5 35.1 34.0 60.9 33.8 38.1 34.8 42.2 50.6 38.3 48.4 29

30 Brokers and dealers 22.1 23.7 24.3 28.0 26.0 30.2 38.2 45.4 39.2 44.6 44.8 30

31 Funding corporations 84.6 84.5 133.6 117.7 255.0 270.7 310.2 296.8 291.5 248.7 192.7 31

(1) Excludes banks’ holdings of own acceptances.
Z.1, September 18, 2001 87

L.209 Treasury Securities

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 3608.5 3755.1 3778.3 3723.7 3652.8 3625.8 3435.7 3382.6 3357.8 3382.1 3234.4 1

 2 Savings bonds 185.0 187.0 186.5 186.6 186.4 185.3 184.6 184.3 184.8 184.8 186.0 2

 3 Other Treasury issues 3423.5 3568.1 3591.8 3537.1 3466.3 3440.5 3251.1 3198.2 3173.1 3197.3 3048.4 3

 4 Total assets 3608.5 3755.1 3778.3 3723.7 3652.8 3625.8 3435.7 3382.6 3357.8 3382.1 3234.4 4

 5 Household sector 739.5 739.1 598.8 485.5 542.0 489.0 380.3 342.5 331.6 313.3 261.7 5

 6 Savings bonds 185.0 187.0 186.5 186.6 186.4 185.3 184.6 184.3 184.8 184.8 186.0 6

 7 Other Treasury issues 554.5 552.1 412.3 298.9 355.6 303.7 195.7 158.2 146.9 128.6 75.8 7

 8 Nonfinancial corporate business 57.1 47.1 26.8 23.6 19.6 21.6 23.7 20.8 15.9 13.4 10.0 8

 9 Nonfarm noncorporate business 21.5 26.7 30.8 37.0 33.9 31.3 27.6 25.9 23.7 20.9 18.2 9

10 State and local governments 289.8 257.0 239.3 269.3 266.8 257.2 256.4 241.9 236.2 224.0 216.5 10

11 Rest of the world 841.3 1093.3 1252.0 1318.8 1238.9 1245.8 1221.2 1199.7 1222.0 1221.5 1192.6 11

12 Monetary authority 378.2 390.9 430.7 452.1 478.0 501.7 505.0 511.4 511.7 523.9 535.1 12

13 Commercial banking 278.7 261.8 270.1 214.0 226.7 215.6 201.4 200.9 182.2 171.9 178.1 13

14 U.S.-chartered commercial banks 207.6 173.0 166.8 124.7 122.8 125.3 116.4 108.6 87.9 72.2 69.9 14

15 Foreign banking offices in U.S. 62.3 80.7 95.1 84.8 92.3 86.9 81.6 89.0 91.7 97.8 106.2 15

16 Bank holding companies 3.4 4.0 4.0 0.9 8.8 0.9 1.1 1.1 0.8 0.8 0.9 16

17 Banks in U.S.-affiliated areas 5.4 4.1 4.2 3.6 2.8 2.5 2.4 2.2 1.8 1.2 1.0 17

18 Savings institutions 18.4 17.4 14.6 10.2 10.1 9.9 9.1 8.8 8.7 8.0 7.5 18

19 Credit unions 18.3 17.4 15.6 13.1 9.6 9.4 8.8 8.6 8.2 7.4 6.6 19

20 Bank personal trusts and estates 27.5 25.7 20.4 17.3 17.3 17.1 16.9 16.7 16.5 16.2 15.8 20

21 Life insurance companies 108.1 93.2 85.5 71.3 62.8 61.7 60.5 59.5 58.1 53.8 48.8 21

22 Other insurance companies 133.4 120.9 91.1 70.4 60.6 58.3 56.0 54.3 52.1 48.1 44.1 22

23 Private pension funds 142.2 139.4 143.5 139.1 138.5 137.8 139.6 139.7 137.7 131.2 129.2 23

24 State and local govt. retirement funds 191.7 203.5 216.9 217.7 211.2 211.1 210.5 200.7 195.7 195.3 191.0 24

25 Money market mutual funds 70.0 90.2 86.2 103.6 103.8 98.9 78.8 79.8 90.4 96.3 93.4 25

26 Mutual funds 205.3 214.2 225.2 230.4 236.6 232.9 236.0 236.8 240.6 244.9 251.4 26

27 Closed-end funds 11.3 11.4 10.2 9.3 8.0 8.0 7.9 7.8 7.7 7.6 7.6 27

28 Government-sponsored enterprises 58.0 18.8 25.9 25.2 30.9 25.2 20.7 19.0 22.1 23.3 25.4 28

29 Brokers and dealers 18.3 -12.8 -5.3 15.8 -42.6 -6.8 -24.4 7.8 -3.3 61.1 1.6 29

 Memo:

30 Federal government debt (1) 3636.7 3781.8 3804.9 3752.2 3681.0 3653.5 3464.0 3410.2 3385.2 3408.8 3261.4 30

(1) Total Treasury securities (table L.209, line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 12).
88 Z.1, September 18, 2001

L.210 Agency Securities (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 2405.0 2634.8 2847.6 3320.5 3912.2 3967.8 4063.6 4191.7 4344.8 4452.4 4620.4 1

 2 Budget agencies 28.2 26.6 26.5 28.5 28.3 27.8 28.2 27.6 27.3 26.8 27.0 2

 3 Government-sponsored enterprises 806.5 896.9 995.3 1273.6 1591.7 1618.0 1680.2 1749.7 1825.8 1891.4 1957.6 3

 4 Federally related mortgage pools 1570.3 1711.3 1825.8 2018.4 2292.2 2322.1 2355.2 2414.3 2491.6 2534.2 2635.8 4

 5 Total assets 2405.0 2634.8 2847.6 3320.5 3912.2 3967.8 4063.6 4191.7 4344.8 4452.4 4620.4 5

 6 Household sector 160.2 259.4 266.2 191.2 287.2 274.0 296.7 305.7 288.4 176.6 219.6 6

 7 Nonfinancial corporate business 23.4 28.5 8.0 10.6 12.5 15.0 17.8 21.5 18.2 21.3 21.8 7

 8 State and local governments 151.5 116.2 115.4 179.0 207.5 213.3 220.0 226.0 231.0 237.9 243.6 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 154.8 196.3 246.5 303.4 394.6 428.8 458.1 500.9 550.3 592.6 628.3 10

11 Monetary authority 2.6 2.2 0.7 0.3 0.2 0.2 0.1 0.1 0.1 0.0 0.0 11

12 Commercial banking 467.5 495.7 571.2 662.6 698.3 715.9 719.4 711.8 720.9 715.7 697.5 12

13 U.S.-chartered commercial banks 421.5 436.7 497.2 578.8 608.1 626.9 630.7 620.7 626.3 618.6 621.7 13

14 Foreign banking offices in U.S. 37.3 49.7 62.2 67.0 71.3 70.5 69.5 70.1 71.9 75.3 54.2 14

15 Bank holding companies 4.7 4.9 5.5 6.6 5.4 4.7 5.0 5.1 4.8 5.4 5.1 15

16 Banks in U.S.-affiliated areas 4.0 4.3 6.3 10.2 13.5 13.7 14.2 16.0 17.8 16.4 16.5 16

17 Savings institutions 164.6 156.1 155.3 143.6 147.3 142.2 140.0 139.6 140.6 145.5 150.7 17

18 Credit unions 45.7 50.7 51.0 58.4 61.3 65.4 65.8 60.9 60.9 64.2 65.7 18

19 Bank personal trusts and estates 43.3 45.6 40.8 39.4 45.2 46.2 47.2 48.5 49.8 50.6 51.6 19

20 Life insurance companies 242.9 244.1 226.7 217.0 224.4 228.0 229.8 233.0 235.4 243.6 249.0 20

21 Other insurance companies 48.2 51.0 70.8 69.7 75.5 77.5 79.4 82.1 84.1 85.2 87.7 21

22 Private pension funds 214.2 203.7 211.4 250.3 280.9 291.5 292.9 302.0 308.6 315.9 314.5 22

23 State and local govt. retirement funds 99.4 104.9 123.3 142.4 165.3 160.8 175.5 187.2 197.8 196.0 200.0 23

24 Money market mutual funds 90.8 101.8 96.3 173.8 190.9 172.7 158.1 161.9 185.2 248.0 267.9 24

25 Mutual funds 109.9 116.1 124.5 145.5 151.8 147.2 151.4 152.5 158.1 164.6 175.3 25

26 Government-sponsored enterprises 190.3 257.6 326.5 489.6 668.3 698.4 717.0 755.6 813.3 871.9 910.8 26

27 ABS issuers 132.9 137.8 141.5 179.7 221.0 226.4 226.2 225.7 223.8 233.7 222.7 27

28 REITs 9.0 12.2 21.2 13.1 14.2 14.1 13.1 13.9 14.5 13.9 17.4 28

29 Brokers and dealers 54.0 55.2 50.4 50.9 66.0 50.3 55.1 62.6 63.7 75.3 96.3 29

(1) Agency securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as FNMA and FHLB;

 and federally related mortgage-backed securities issued by GNMA, FNMA, FHLMC, 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 in table L.209, line 30.
Z.1, September 18, 2001 89

L.211 Municipal Securities and Loans

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 1293.5 1296.0 1367.5 1464.3 1532.5 1539.2 1551.6 1550.3 1567.8 1596.6 1629.3 1

 2 State and local governments 1060.4 1053.3 1110.6 1189.7 1242.4 1247.9 1256.7 1254.5 1270.6 1297.7 1328.4 2

 3 Short-term (1) 32.9 39.1 47.5 41.2 44.8 46.4 45.2 43.5 47.9 52.8 55.1 3

 4 Long-term 1027.5 1014.1 1063.1 1148.5 1197.6 1201.5 1211.6 1211.0 1222.7 1244.9 1273.3 4

 5 Nonprofit organizations (2) 98.3 104.9 114.9 126.9 137.3 138.0 141.4 141.9 143.0 144.2 145.3 5

 6 Nonfinancial corporate business 134.8 137.9 142.0 147.8 152.8 153.3 153.4 153.9 154.2 154.7 155.6 6

 (industrial revenue bonds)

 7 Total assets 1293.5 1296.0 1367.5 1464.3 1532.5 1539.2 1551.6 1550.3 1567.8 1596.6 1629.3 7

 8 Household sector 455.4 433.2 468.8 488.3 526.6 529.1 542.9 543.1 541.1 550.2 571.5 8

 9 Nonfinancial corporate business 36.8 31.0 27.4 25.7 22.3 23.9 36.3 27.6 33.2 32.2 33.4 9

10 Nonfarm noncorporate business 2.2 2.6 3.2 1.5 3.5 3.5 3.6 3.6 3.7 3.7 3.8 10

11 State and local governments 5.1 4.6 3.9 2.5 1.0 0.6 1.0 1.8 1.6 2.1 2.0 11

12 Commercial banking 93.4 94.2 96.7 104.8 110.7 111.9 112.3 113.4 114.0 112.7 116.2 12

13 Savings institutions 2.0 2.1 2.1 2.5 3.0 3.1 3.0 3.0 3.2 3.9 4.0 13

14 Bank personal trusts and estates 108.3 104.0 90.7 89.5 100.3 102.1 103.0 104.3 105.0 105.8 106.3 14

15 Life insurance companies 11.9 13.4 16.7 18.4 20.1 20.0 19.6 19.4 19.1 19.5 20.3 15

16 Other insurance companies 161.0 175.4 191.6 208.1 199.0 194.7 190.4 188.1 184.1 185.3 186.1 16

17 State and local govt. retirement funds 1.8 0.6 1.5 3.3 3.0 2.9 2.8 2.2 1.6 1.8 1.5 17

18 Money market mutual funds 127.7 144.5 167.0 193.0 210.4 225.8 221.5 227.6 244.8 256.0 255.2 18

19 Mutual funds 210.2 213.3 219.8 242.6 239.4 232.3 227.9 228.4 230.5 236.0 239.7 19

20 Closed-end funds 59.4 60.8 59.9 61.8 70.5 69.3 68.2 67.0 65.9 64.7 63.6 20

21 Government-sponsored enterprises 5.6 5.6 5.2 9.2 10.6 9.2 9.1 9.9 8.8 9.9 12.0 21

22 Brokers and dealers 12.7 10.8 13.2 13.1 11.9 10.8 9.9 10.8 11.3 12.7 13.7 22

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

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).

L.212 Corporate and Foreign Bonds

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

 1 Total liabilities 2848.1 3205.1 3594.5 4144.9 4602.8 4700.8 4816.3 4939.8 5044.6 5267.9 5435.1 1

 2 Nonfinancial corporate business 1344.1 1460.4 1610.9 1829.6 2059.5 2106.0 2144.5 2190.6 2234.5 2335.4 2441.3 2

 3 Rest of the world (1) 299.4 366.3 427.7 462.6 479.4 490.6 498.4 521.3 533.7 542.0 551.0 3

 4 Financial sectors 1204.7 1378.4 1555.9 1852.8 2064.0 2104.2 2173.5 2228.0 2276.5 2390.5 2442.7 4

 5 Commercial banking 161.1 168.9 192.6 220.2 240.6 248.9 258.4 266.6 273.2 293.1 295.4 5

 6 Savings institutions 3.1 2.7 2.8 2.6 2.7 2.7 2.7 3.4 6.3 2.8 6.4 6

 7 ABS issuers 611.3 716.6 820.5 1016.2 1100.6 1109.1 1126.7 1146.6 1187.8 1238.9 1270.5 7

 8 Finance companies 300.0 332.5 328.8 339.7 397.0 412.0 445.1 465.5 463.8 501.8 504.6 8

 9 REITs 15.5 16.8 31.6 53.4 62.2 63.9 67.2 68.6 67.0 70.0 66.5 9

10 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 36.4 36.2 42.6 40.9 35.0 43.9 10

11 Funding corporations 84.4 113.6 144.2 178.2 235.5 231.1 237.1 234.7 237.5 248.9 255.5 11

12 Total assets 2848.1 3205.1 3594.5 4144.9 4602.8 4700.8 4816.3 4939.8 5044.6 5267.9 5435.1 12

13 Household sector 415.3 486.7 519.1 602.6 617.8 607.1 663.5 646.9 631.7 688.1 660.1 13

14 State and local governments 39.0 49.7 51.0 61.2 73.8 75.3 76.5 76.9 77.5 80.4 82.2 14

15 Rest of the world (2) 369.5 453.2 537.8 660.0 820.8 865.4 907.6 954.0 1003.9 1073.9 1143.8 15

16 Commercial banking 110.9 112.3 143.1 181.1 219.9 214.1 219.0 253.5 277.5 290.5 326.1 16

17 Savings institutions 78.5 68.6 58.7 88.6 112.0 115.7 110.6 107.3 109.5 96.0 93.1 17

18 Bank personal trusts and estates 33.6 31.9 31.1 28.5 39.8 41.8 43.5 45.4 48.0 50.5 53.6 18

19 Life insurance companies 870.1 949.3 1046.0 1130.4 1173.2 1192.5 1198.2 1212.2 1222.2 1252.0 1280.3 19

20 Other insurance companies 123.3 141.6 159.5 171.1 181.1 182.3 183.3 186.2 187.5 189.7 191.2 20

21 Private pension funds 242.0 244.9 278.7 295.8 305.1 308.4 311.0 317.3 319.7 328.3 338.8 21

22 State and local govt. retirement funds 189.2 211.4 244.5 279.6 310.0 325.3 318.5 327.9 339.7 346.6 352.0 22

23 Money market mutual funds 21.5 23.9 36.4 81.2 123.7 143.6 134.6 153.9 161.9 161.6 159.9 23

24 Mutual funds 195.7 229.5 273.8 339.3 368.6 363.9 366.0 368.3 367.3 381.8 397.4 24

25 Closed-end funds 25.5 28.6 28.1 32.6 32.6 31.7 30.8 30.0 29.1 28.2 27.3 25

26 Government-sponsored enterprises 31.0 41.8 47.1 67.8 91.5 94.2 106.5 113.9 117.3 125.2 138.8 26

27 REITs 2.9 4.3 6.5 6.1 5.7 5.6 6.4 5.7 5.3 7.4 5.2 27

28 Brokers and dealers 76.4 90.9 100.0 81.4 93.4 110.0 109.1 116.6 112.7 124.0 132.0 28

29 Funding corporations 23.8 36.5 33.1 37.6 33.8 23.8 31.1 23.9 33.9 43.6 53.3 29

(1) Holdings of foreign issues by U.S. residents.

(2) Holdings of U.S. issues by foreign residents.
90 Z.1, September 18, 2001

L.213 Corporate Equities (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Issues at market value 8495.7 10255.8 13202.0 15492.5 19494.5 20147.0 19180.8 18991.5 17068.8 14920.9 15863.6 1

 2 Nonfinancial corporate business 6435.0 7618.6 9674.9 11521.8 15030.3 15598.4 14723.5 14200.9 12243.1 10599.0 11315.7 2

 3 Rest of the world (2) 776.8 1002.9 1207.8 1476.2 2026.6 2057.4 2010.9 1854.0 1787.0 1574.0 1610.7 3

 4 Financial corporations 1284.0 1634.3 2319.3 2494.5 2437.5 2491.2 2446.5 2936.6 3038.7 2747.9 2937.2 4

 5 Holdings at market value 8495.7 10255.8 13202.0 15492.5 19494.5 20147.0 19180.8 18991.5 17068.8 14920.9 15863.6 5

 6 Household sector 4182.9 4872.3 6209.5 7190.4 9284.7 9409.8 8688.9 8305.2 7042.9 5942.6 6295.6 6

 7 State and local governments 26.2 46.8 79.0 102.0 115.0 113.2 115.0 117.6 115.1 108.6 118.6 7

 8 Rest of the world (3) 527.6 656.8 919.5 1175.1 1537.8 1598.2 1620.4 1724.9 1748.3 1626.5 1732.2 8

 9 Commercial banking 5.0 6.8 2.6 6.8 10.4 10.5 10.5 11.8 11.0 7.7 8.8 9

10 Savings institutions 14.3 17.8 23.3 24.5 23.8 23.7 24.2 24.4 24.2 24.6 25.6 10

11 Bank personal trusts and estates 224.9 248.9 321.0 314.0 338.3 345.1 323.8 318.6 280.0 239.8 251.9 11

12 Life insurance companies 315.4 414.1 558.6 733.2 964.5 1027.6 1007.8 1023.3 940.8 873.2 955.1 12

13 Other insurance companies 134.2 148.6 186.0 200.1 207.9 205.3 203.9 199.4 194.3 172.2 184.7 13

14 Private pension funds 1289.2 1463.9 1696.4 1902.2 2156.9 2231.2 2153.2 2158.3 2001.1 1793.9 1862.6 14

15 State and local govt. retirement funds 678.9 828.5 1084.8 1233.9 1343.2 1331.0 1322.5 1360.9 1344.6 1220.7 1275.2 15

16 Mutual funds 1024.9 1470.0 2018.7 2508.5 3400.0 3730.2 3591.3 3620.9 3250.8 2797.6 3025.6 16

17 Closed-end funds 38.2 43.6 50.7 47.3 45.2 46.8 44.7 44.8 40.1 35.2 37.8 17

18 Brokers and dealers 34.2 37.9 51.9 54.4 66.9 74.4 74.5 81.5 75.3 78.3 89.8 18

 Memo:

19 Market value of domestic corporations (4) 7507.4 9016.0 11702.9 13707.7 17137.5 17752.6 16836.3 16800.2 14961.0 13053.5 13931.8 19

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Holdings of U.S. issues by foreign residents.

(4) Sum of lines 2 and 4 less the sum of lines 9, 13, 17, 18; line 1 excludes intercorporate holdings of nonfinancial corporations.

L.214 Mutual Fund Shares

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

 1 Shares at market value 1852.8 2342.4 2989.4 3610.5 4553.4 4863.3 4759.6 4814.4 4457.2 3999.8 4269.9 1

 2 Holdings at market value 1852.8 2342.4 2989.4 3610.5 4553.4 4863.3 4759.6 4814.4 4457.2 3999.8 4269.9 2

 3 Household sector 1158.9 1495.4 1941.2 2362.0 3066.3 3302.7 3240.1 3279.5 3043.2 2739.3 2929.6 3

 4 Nonfinancial corporate business 45.7 59.9 69.1 91.0 113.9 117.5 111.4 111.0 98.8 85.9 91.6 4

 5 State and local governments 35.0 41.0 33.6 21.3 25.6 22.9 24.3 25.4 26.4 28.8 30.7 5

 6 Commercial banking 2.3 2.6 8.1 9.2 11.1 12.4 12.2 12.5 13.8 15.9 16.0 6

 7 Credit unions 2.8 2.6 2.4 3.6 2.5 3.2 2.3 2.2 2.2 2.0 3.6 7

 8 Bank personal trusts and estates 253.5 293.2 326.9 390.8 460.6 475.8 449.2 441.3 387.0 333.4 352.2 8

 9 Life insurance companies 27.7 35.3 38.4 23.3 43.3 47.8 48.6 51.1 48.1 42.6 46.1 9

10 Private pension funds 326.8 412.3 569.6 709.3 830.1 881.1 871.5 891.4 837.6 752.0 800.0 10
Z.1, September 18, 2001 91

L.215 Bank Loans Not Elsewhere Classified

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 Total loans by commercial

 1 banking, flow of funds basis 2646.9 2821.1 3052.9 3304.8 3504.9 3602.1 3736.9 3801.9 3875.3 3909.0 3899.2 1

 - Loans elsewhere classified:

 2 Open market paper 5.7 6.5 2.7 1.1 1.4 1.4 1.4 1.3 1.5 0.6 0.0 2

 3 Mortgages 1090.2 1145.4 1245.3 1337.0 1495.2 1546.5 1614.1 1648.1 1659.3 1688.1 1723.1 3

 4 Consumer credit 502.0 526.8 512.6 508.9 499.8 497.1 506.2 521.8 541.5 533.7 540.2 4

 5 Security credit 99.5 100.8 122.5 142.9 124.8 143.4 150.6 159.0 175.2 191.6 173.0 5

 6 = Banking sector total bank loans n.e.c. 949.6 1041.7 1169.8 1314.9 1383.8 1413.7 1464.6 1471.7 1497.9 1495.1 1462.9 6

 7 U.S.-chartered commercial banks 701.6 759.8 867.9 1012.2 1104.4 1131.9 1178.7 1186.5 1202.6 1197.5 1179.3 7

 8 Foreign banking offices in U.S. 232.6 264.8 284.0 282.2 259.9 262.2 263.9 265.1 275.7 276.8 262.5 8

 9 Bank holding companies 2.3 2.5 2.4 4.1 2.6 1.9 4.0 1.8 1.6 2.7 2.7 9

10 Banks in U.S.-affiliated areas 13.1 14.6 15.5 16.3 16.9 17.8 18.0 18.4 18.0 18.1 18.4 10

11 + Loans from Federal Reserve banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 = Total bank loans n.e.c. 949.6 1041.7 1169.8 1314.9 1383.8 1413.7 1464.6 1471.7 1497.9 1495.1 1462.9 12

13 Total liabilities 949.6 1041.7 1169.8 1314.9 1383.8 1413.7 1464.6 1471.7 1497.9 1495.1 1462.9 13

14 Nonfinancial sectors 898.2 977.7 1092.7 1207.6 1290.9 1322.3 1371.1 1379.2 1405.3 1398.0 1362.6 14

15 Households 57.4 58.0 66.6 72.9 65.7 69.6 70.9 67.5 73.9 63.5 60.0 15

16 Corporate business 601.8 642.1 692.7 774.5 847.5 868.3 902.5 909.0 921.8 923.2 900.4 16

17 Nonfarm noncorporate business 164.7 193.6 237.3 256.3 274.2 278.7 287.1 288.9 292.0 292.2 287.2 17

18 Farm business 39.7 40.4 43.9 45.1 44.2 42.4 45.9 46.2 46.9 45.1 47.8 18

19 Rest of the world 34.6 43.7 52.1 58.9 59.4 63.3 64.7 67.7 70.7 73.9 67.2 19

20 Foreign official institutions 2.6 2.9 2.1 2.8 3.0 2.8 3.1 3.6 3.5 3.6 3.3 20

21 Foreign banks 10.9 14.3 13.8 13.1 10.0 11.4 12.0 12.6 13.2 16.2 9.2 21

22 Other foreign 21.1 26.5 36.3 43.0 46.5 49.1 49.5 51.5 54.0 54.1 54.8 22

23 Financial sectors 51.4 64.0 77.2 107.2 92.9 91.4 93.6 92.5 92.6 97.1 100.3 23

24 Savings institutions 14.6 15.9 19.4 29.7 14.0 20.4 21.3 20.8 21.5 22.6 21.7 24

25 Finance companies 15.3 19.7 24.1 26.3 35.1 28.5 33.3 35.4 35.6 41.4 45.2 25

26 Mortgage companies 16.5 20.6 16.0 17.7 17.8 17.1 17.8 17.7 17.9 18.1 18.2 26

27 REITs 5.0 7.8 17.6 33.6 26.0 25.5 21.2 18.6 17.7 15.0 15.2 27
92 Z.1, September 18, 2001

L.216 Other Loans and Advances

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total other loans and advances 935.4 998.0 1101.0 1259.6 1422.1 1476.2 1538.5 1533.6 1578.6 1594.6 1618.1 1

 2 U.S. government loans 148.8 149.0 158.8 173.3 179.3 181.9 183.8 185.3 187.6 189.4 191.9 2

 3 Liab.: Household sector 27.3 30.4 41.8 52.4 65.0 68.1 70.7 73.5 76.2 78.8 81.8 3

 4 Nonfinancial corporate business 10.0 8.7 8.4 8.3 8.0 7.9 7.7 7.6 7.6 7.6 7.3 4

 5 Nonfarm noncorporate business 39.4 39.1 40.9 44.8 43.9 43.9 43.5 43.2 42.8 42.2 41.6 5

 6 Farm business 7.0 5.9 5.5 5.1 4.9 4.9 4.9 4.9 5.0 5.0 5.1 6

 7 State and local governments 9.8 10.1 8.9 10.1 9.7 9.3 8.9 8.6 8.7 8.8 8.9 7

 8 Rest of the world 55.4 54.8 53.3 52.4 47.8 47.9 48.0 47.4 47.3 46.9 47.1 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Foreign loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 120.8 124.8 112.4 117.3 114.9 121.0 10

11 Liab.: Nonfinancial corporate business 122.1 126.0 143.3 142.3 119.5 120.8 124.8 112.4 117.3 114.9 121.0 11

 Customers’ liability on acceptances

12 outstanding (bank asset) 22.3 23.4 20.6 11.3 8.2 8.7 9.0 8.4 7.5 7.4 6.6 12

13 Liab.: Nonfinancial corporate business 14.2 13.4 10.8 6.6 4.4 4.9 4.9 4.6 4.3 6.6 5.8 13

14 Rest of the world 8.2 9.9 9.7 4.7 3.9 3.8 4.1 3.8 3.1 0.8 0.8 14

15 Savings institution loans to business 12.8 15.7 18.8 24.2 30.7 33.4 35.4 37.9 39.3 41.4 43.8 15

16 Liab.: Nonfinancial corporate business 6.4 7.9 9.4 12.1 15.3 16.7 17.7 19.0 19.7 20.7 21.9 16

17 Nonfarm noncorporate business 6.4 7.9 9.4 12.1 15.3 16.7 17.7 19.0 19.7 20.7 21.9 17

18 Policy loans (Household liability) 96.9 101.4 104.6 104.7 100.0 99.6 100.5 102.0 102.8 103.8 104.0 18

19 Asset: Federal government 0.9 1.0 1.0 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 19

20 Life insurance companies 95.9 100.5 103.7 103.8 99.0 98.7 99.6 101.1 101.9 102.9 103.1 20

21 Government-sponsored enterprise loans 200.3 229.1 260.3 352.6 466.2 472.9 505.4 503.5 514.6 527.9 530.1 21

22 Liab.: Household sector (SLMA) 35.2 34.6 30.2 29.0 34.5 32.3 31.7 35.9 37.4 38.0 39.2 22

23 Noncorporate business (FCS) 16.4 15.1 15.1 17.8 17.9 17.1 18.2 18.9 19.4 19.4 20.9 23

24 Farm business (FCS) 13.8 16.5 16.5 17.1 17.9 19.1 18.6 18.5 19.5 19.6 19.2 24

25 Commercial banks (FHLB and SLMA) 36.7 39.0 58.1 104.9 145.6 155.0 174.6 172.6 172.4 176.1 179.0 25

26 Savings institutions (FHLB and SLMA) 97.4 121.9 138.0 180.1 243.7 243.8 256.7 251.8 260.0 269.7 266.4 26

27 Credit unions (FHLB) 0.4 0.4 0.6 1.1 3.4 2.6 2.9 3.1 3.4 3.2 3.5 27

28 Life insurance companies (FHLB) 0.5 1.6 1.8 2.5 3.2 3.0 2.7 2.7 2.5 1.9 1.9 28

29 Securitized loans held by ABS issuers 30.6 44.0 76.2 103.8 113.0 124.3 125.4 128.3 138.3 138.1 139.3 29

30 Liab.: Households (1) 1.0 6.3 14.1 17.9 19.4 22.8 24.5 30.7 29.9 30.5 30.5 30

31 Nonfinancial corporate business 29.6 37.7 62.1 85.9 93.6 101.5 100.9 97.6 108.4 107.6 108.9 31

32 Finance company loans to business 301.6 309.5 318.5 347.5 405.2 434.6 454.1 455.7 471.1 471.7 481.5 32

33 Liab.: Nonfinancial corporate business 271.4 278.5 286.7 312.8 364.6 391.1 408.7 410.2 424.0 424.5 433.3 33

34 Nonfarm noncorporate business 30.2 30.9 31.9 34.8 40.5 43.5 45.4 45.6 47.1 47.2 48.1 34

(1) Student loans.
Z.1, September 18, 2001 93

L.217 Total Mortgages

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total mortgages 4576.6 4861.9 5194.4 5705.3 6340.7 6452.7 6622.0 6773.4 6913.9 7037.8 7250.4 1

 2 Home 3507.9 3717.1 3969.7 4353.9 4783.5 4858.0 4982.3 5100.0 5200.7 5293.5 5449.7 2

 3 Multifamily residential 273.0 288.7 301.3 333.3 377.9 386.2 399.3 407.2 417.7 427.2 442.6 3

 4 Commercial 711.4 769.1 833.4 921.5 1077.0 1104.3 1133.7 1157.9 1186.2 1206.6 1245.3 4

 5 Farm 84.2 86.9 90.0 96.6 102.3 104.2 106.8 108.3 109.3 110.4 112.7 5

 6 Total liabilities 4576.6 4861.9 5194.4 5705.3 6340.7 6452.7 6622.0 6773.4 6913.9 7037.8 7250.4 6

 7 Household sector 3475.0 3671.4 3904.6 4259.6 4653.8 4719.6 4833.5 4943.7 5034.1 5116.3 5265.8 7

 8 Nonfinancial business 1077.5 1158.5 1243.0 1374.1 1610.2 1654.7 1707.5 1747.2 1796.8 1840.4 1899.5 8

 9 Corporate 188.3 228.4 262.1 278.9 379.6 396.0 412.4 423.0 442.6 454.9 478.6 9

10 Nonfarm noncorporate 805.0 843.2 890.9 998.6 1128.3 1154.5 1188.3 1215.9 1245.0 1275.1 1308.2 10

11 Farm 84.2 86.9 90.0 96.6 102.3 104.2 106.8 108.3 109.3 110.4 112.7 11

12 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 REITs 24.1 31.9 46.8 71.6 76.7 78.5 81.0 82.5 82.9 81.1 85.1 13

14 Total assets 4576.6 4861.9 5194.4 5705.3 6340.7 6452.7 6622.0 6773.4 6913.9 7037.8 7250.4 14

15 Household sector 109.5 109.5 109.6 110.5 110.2 111.2 111.5 111.7 111.8 111.9 111.7 15

16 Nonfinancial corporate business 57.9 54.4 80.2 67.3 60.3 59.0 57.8 56.5 55.3 54.0 52.8 16

17 Nonfarm noncorporate business 21.7 20.4 18.7 30.7 40.7 42.7 46.5 47.0 48.6 50.1 51.5 17

18 State and local governments 113.8 117.6 121.3 125.4 129.8 130.9 132.0 133.1 134.3 135.4 136.6 18

19 Federal government 57.5 50.3 45.7 44.9 77.7 76.8 76.8 76.5 76.9 76.3 76.2 19

20 Commercial banking 1090.2 1145.4 1245.3 1337.0 1495.2 1546.5 1614.1 1648.1 1659.3 1688.1 1723.1 20

21 Savings institutions (1) 596.8 628.3 631.8 644.0 668.6 682.4 703.5 723.1 723.8 741.4 751.7 21

22 Credit unions 66.5 76.0 86.0 96.9 111.0 114.1 119.1 124.0 127.4 126.1 130.3 22

23 Bank personal trusts and estates 3.3 3.6 3.0 2.8 2.2 2.2 2.2 2.1 2.1 2.0 2.0 23

24 Life insurance companies 213.1 208.2 206.8 213.6 230.8 229.4 232.6 234.7 235.9 235.1 236.1 24

25 Other insurance companies 2.8 2.4 2.2 2.0 1.9 2.5 1.8 1.7 1.6 1.6 1.6 25

26 Private pension funds 8.4 9.0 9.7 11.5 13.5 14.0 14.3 14.8 15.1 15.5 15.8 26

27 State and local govt. retirement funds 15.9 16.7 17.6 24.1 21.5 21.7 21.0 21.5 21.5 22.1 22.8 27

28 Government-sponsored enterprises (1) 251.0 244.9 240.5 248.7 244.4 246.1 255.7 260.1 267.1 270.0 279.1 28

29 Federally related mortgage pools 1570.3 1711.3 1825.8 2018.4 2292.2 2322.1 2355.2 2414.3 2491.6 2534.2 2635.8 29

30 ABS issuers 278.2 326.3 407.0 563.5 655.5 669.1 687.7 708.6 740.7 769.5 814.4 30

31 Finance companies 72.4 82.7 87.9 102.3 126.5 128.8 136.2 142.4 148.3 151.8 157.1 31

32 Mortgage companies 33.0 41.2 32.1 35.3 35.6 34.1 35.5 35.4 35.9 36.2 36.5 32

33 REITs 14.1 13.8 22.9 26.3 23.0 19.2 18.6 17.8 16.8 16.3 15.3 33

(1) FHLB loans to savings institutions are included in other loans and advances.
94 Z.1, September 18, 2001

L.218 Home Mortgages (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 3507.9 3717.1 3969.7 4353.9 4783.5 4858.0 4982.3 5100.0 5200.7 5293.5 5449.7 1

 2 Household sector 3383.0 3574.9 3809.5 4155.2 4538.9 4604.9 4717.7 4824.4 4916.2 4997.5 5143.2 2

 3 Nonfinancial corporate business 6.9 7.8 8.0 9.4 11.5 12.0 12.6 13.2 13.5 14.4 15.0 3

 4 Nonfarm noncorporate business 118.0 134.4 152.2 189.4 233.0 241.1 252.0 262.4 271.0 281.7 291.5 4

 5 Total assets 3507.9 3717.1 3969.7 4353.9 4783.5 4858.0 4982.3 5100.0 5200.7 5293.5 5449.7 5

 6 Household sector 88.8 87.6 86.5 85.3 84.2 83.9 83.7 83.4 83.2 82.9 82.7 6

 7 Nonfinancial corporate business 33.8 24.5 29.8 27.1 25.6 25.4 25.1 24.9 24.6 24.3 24.1 7

 8 Nonfarm noncorporate business 8.2 7.6 7.0 11.5 15.3 16.0 17.4 17.6 18.2 18.8 19.3 8

 9 State and local governments 60.5 62.8 65.8 69.1 72.6 73.5 74.4 75.3 76.3 77.2 78.2 9

10 Federal government 24.2 21.2 19.1 18.8 18.4 18.3 18.3 17.8 17.7 17.6 17.4 10

11 Commercial banking 646.5 677.6 745.5 796.6 878.7 903.8 948.2 967.5 965.2 977.8 996.9 11

12 Savings institutions 482.4 513.7 520.7 533.4 548.5 559.6 578.5 595.0 594.6 607.8 615.8 12

13 Credit unions 66.5 76.0 86.0 96.9 111.0 114.1 119.1 124.0 127.4 126.1 130.3 13

14 Bank personal trusts and estates 3.3 3.6 3.0 2.8 2.2 2.2 2.2 2.1 2.1 2.0 2.0 14

15 Life insurance companies 8.9 7.0 7.2 6.6 5.9 5.6 5.2 4.9 4.9 4.9 4.9 15

16 Private pension funds 4.4 5.0 5.7 7.0 8.5 8.9 9.2 9.6 10.0 10.3 10.7 16

17 State and local govt. retirement funds 4.4 5.0 5.6 8.4 7.5 7.6 7.4 7.5 7.5 7.7 8.0 17

18 Government-sponsored enterprises 205.2 198.5 194.3 199.6 189.3 189.8 197.6 200.5 205.1 206.3 211.9 18

19 Federally related mortgage pools 1543.4 1678.8 1788.1 1970.2 2234.7 2263.0 2294.1 2351.4 2425.6 2464.9 2561.8 19

20 ABS issuers 224.3 256.2 310.7 405.2 455.0 463.5 471.9 484.6 499.8 523.3 539.2 20

21 Finance companies 72.4 52.1 59.0 75.7 88.3 90.4 96.6 100.9 105.4 108.1 112.9 21

22 Mortgage companies 23.8 32.0 21.8 24.9 25.2 23.7 25.1 24.9 25.4 25.8 26.0 22

23 REITs 6.9 8.0 14.0 14.8 12.4 8.8 8.3 8.0 7.9 7.8 7.6 23

 Memo:

24 Home equity loans included above (2) 289.3 335.3 407.6 462.5 512.8 531.7 559.6 582.0 605.2 620.2 642.7 24

25 Commercial banking 140.0 153.8 174.0 176.9 189.5 199.7 212.8 223.5 234.8 235.6 245.4 25

26 Savings institutions 50.5 52.3 55.5 55.9 59.8 62.3 64.9 68.4 72.9 73.3 76.8 26

27 Credit unions 22.9 25.5 29.0 29.7 33.4 35.7 37.7 40.0 40.7 41.4 42.2 27

28 ABS issuers 33.1 51.6 90.2 124.2 141.9 143.5 147.6 149.2 151.5 161.9 165.3 28

29 Finance companies 42.7 52.1 59.0 75.7 88.3 90.4 96.6 100.9 105.4 108.1 113.0 29

(1) Mortgages on 1-4 family properties.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by mortgage companies and individuals.

L.219 Multifamily Residential Mortgages

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

 1 Total liabilities 273.0 288.7 301.3 333.3 377.9 386.2 399.3 407.2 417.7 427.2 442.6 1

 2 Nonfinancial corporate business 21.1 21.7 22.5 23.5 24.7 25.1 25.4 25.7 25.9 26.2 26.5 2

 3 Nonfarm noncorporate business 244.0 256.5 263.3 286.1 327.8 335.2 347.2 354.3 364.4 374.2 387.9 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 7.9 10.5 15.4 23.6 25.3 25.9 26.7 27.2 27.4 26.7 28.1 5

 6 Total assets 273.0 288.7 301.3 333.3 377.9 386.2 399.3 407.2 417.7 427.2 442.6 6

 7 Household sector 1.6 1.5 1.5 1.5 1.4 1.4 1.4 1.4 1.4 1.4 1.4 7

 8 Nonfinancial corporate business 0.1 0.8 1.4 1.1 0.9 0.9 0.9 0.8 0.8 0.8 0.7 8

 9 Nonfarm noncorporate business 7.2 6.8 6.2 10.2 13.5 14.2 15.4 15.6 16.1 16.6 17.1 9

10 State and local governments 44.1 45.9 46.5 47.4 48.3 48.6 48.8 49.1 49.3 49.6 49.8 10

11 Federal government 17.7 14.8 13.9 13.6 13.6 13.7 13.8 13.8 13.9 13.3 13.4 11

12 Commercial banking 42.5 45.5 49.7 52.9 66.0 70.8 75.7 76.9 77.7 79.8 80.4 12

13 Savings institutions 62.0 61.6 59.5 57.0 59.4 58.0 59.4 60.3 61.3 62.9 63.4 13

14 Life insurance companies 28.7 30.8 30.4 31.5 32.8 32.7 33.2 33.5 33.7 33.6 33.6 14

15 Private pension funds 1.0 1.0 1.0 1.1 1.2 1.3 1.3 1.3 1.3 1.3 1.3 15

16 State and local govt. retirement funds 4.5 4.7 5.0 6.7 6.0 6.1 5.9 6.0 6.0 6.2 6.4 16

17 Government-sponsored enterprises 19.0 18.6 17.3 18.1 22.9 24.2 25.3 26.2 27.8 28.8 30.7 17

18 Federally related mortgage pools 26.9 32.5 37.8 48.3 57.5 59.1 61.0 63.0 66.0 69.3 74.1 18

19 ABS issuers 11.9 15.9 20.9 33.8 42.2 43.1 44.4 46.1 49.5 50.7 57.0 19

20 Finance companies 0.0 3.1 2.9 2.7 5.1 5.6 5.9 6.2 6.1 6.3 6.7 20

21 Mortgage companies 4.2 4.1 5.2 5.3 5.3 5.3 5.3 5.3 5.4 5.4 5.4 21

22 REITs 1.6 1.2 2.1 2.1 1.6 1.4 1.6 1.5 1.3 1.2 1.2 22
Z.1, September 18, 2001 95

L.220 Commercial Mortgages

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 711.4 769.1 833.4 921.5 1077.0 1104.3 1133.7 1157.9 1186.2 1206.6 1245.3 1

 2 Household sector 91.9 96.6 95.1 104.4 114.8 114.7 115.8 119.3 117.9 118.8 122.6 2

 3 Nonfinancial corporate business 160.3 198.9 231.6 246.0 343.3 358.9 374.4 384.1 403.1 414.3 437.1 3

 4 Nonfarm noncorporate business 443.0 452.3 475.4 523.1 567.4 578.1 589.1 599.3 609.6 619.2 628.7 4

 5 REITs 16.1 21.4 31.4 48.0 51.4 52.6 54.2 55.3 55.6 54.3 57.0 5

 6 Total assets 711.4 769.1 833.4 921.5 1077.0 1104.3 1133.7 1157.9 1186.2 1206.6 1245.3 6

 7 Household sector 3.7 4.4 5.1 6.0 6.7 6.8 7.0 7.1 7.3 7.5 7.6 7

 8 Nonfinancial corporate business 24.0 29.1 49.1 39.1 33.7 32.8 31.8 30.8 29.9 28.9 27.9 8

 9 Nonfarm noncorporate business 5.7 5.3 4.9 8.0 10.6 11.1 12.1 12.3 12.7 13.1 13.4 9

10 State and local governments 7.7 7.5 7.7 7.6 7.5 7.4 7.4 7.4 7.4 7.3 7.3 10

11 Federal government 9.4 8.5 7.8 7.9 41.5 40.6 40.6 40.7 41.1 41.3 41.3 11

12 Commercial banking 377.3 397.5 423.1 458.5 518.6 539.2 556.4 569.8 582.4 596.2 610.6 12

13 Savings institutions 52.1 52.7 51.3 53.1 60.3 64.3 65.1 67.3 67.4 70.2 71.9 13

14 Life insurance companies 165.9 160.3 158.8 164.0 179.0 178.2 180.9 182.6 183.8 183.1 184.1 14

15 Other insurance companies 2.8 2.4 2.2 2.0 1.9 2.5 1.8 1.7 1.6 1.6 1.6 15

16 Private pension funds 3.0 3.0 3.0 3.4 3.7 3.8 3.8 3.9 3.9 3.9 3.8 16

17 State and local govt. retirement funds 7.0 7.0 7.0 8.9 8.0 8.0 7.8 7.9 8.0 8.2 8.4 17

18 Federally related mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 ABS issuers 41.9 54.2 75.4 124.6 158.3 162.6 171.4 177.8 191.4 195.5 218.3 19

20 Finance companies 0.0 27.4 26.0 23.9 33.2 32.8 33.7 35.3 36.9 37.4 37.4 20

21 Mortgage companies 5.1 5.1 5.1 5.1 5.1 5.1 5.1 5.1 5.1 5.1 5.1 21

22 REITs 5.6 4.6 6.9 9.4 9.0 9.0 8.7 8.2 7.6 7.4 6.5 22

L.221 Farm Mortgages

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

 1 Total liabilities (Farm business) 84.2 86.9 90.0 96.6 102.3 104.2 106.8 108.3 109.3 110.4 112.7 1

 2 Total assets 84.2 86.9 90.0 96.6 102.3 104.2 106.8 108.3 109.3 110.4 112.7 2

 3 Household sector 15.3 15.9 16.5 17.7 17.9 19.0 19.4 19.7 19.9 20.1 20.0 3

 4 Nonfarm noncorporate business 0.7 0.7 0.6 1.0 1.3 1.4 1.5 1.5 1.6 1.6 1.6 4

 5 State and local governments 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 5

 6 Federal government 6.2 5.8 4.9 4.5 4.3 4.2 4.2 4.2 4.1 4.1 4.1 6

 7 Commercial banking 23.8 24.9 27.0 29.0 31.8 32.7 33.7 33.9 34.0 34.3 35.2 7

 8 Savings institutions 0.3 0.3 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.6 0.6 8

 9 Life insurance companies 9.7 10.1 10.5 11.5 13.0 13.0 13.4 13.7 13.6 13.5 13.5 9

10 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Government-sponsored enterprises 26.8 27.9 28.9 31.0 32.2 32.1 32.8 33.5 34.2 34.9 36.4 11

12 Federally related mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12
96 Z.1, September 18, 2001

L.222 Consumer Credit

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities (Households) 1122.8 1211.6 1264.1 1331.7 1426.2 1416.0 1454.0 1495.3 1566.5 1558.6 1581.1 1

 2 Total assets 1122.8 1211.6 1264.1 1331.7 1426.2 1416.0 1454.0 1495.3 1566.5 1558.6 1581.1 2

 3 Nonfinancial corporate business 85.1 77.7 78.9 74.9 80.3 72.9 73.5 72.1 82.7 71.4 68.0 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Commercial banking 502.0 526.8 512.6 508.9 499.8 497.1 506.2 521.8 541.5 533.7 540.2 5

 6 Savings institutions 40.1 44.7 47.2 51.6 61.5 59.0 61.0 62.5 64.6 65.5 65.3 6

 7 Credit unions 131.9 144.1 152.4 155.4 167.9 169.2 176.0 181.3 184.4 182.9 187.0 7

 8 ABS issuers 211.6 265.8 313.1 372.4 435.1 434.0 447.0 460.3 500.1 519.2 529.5 8

 9 Finance companies 152.1 152.4 160.0 168.5 181.6 183.7 190.3 197.3 193.2 185.9 191.0 9

L.223 Trade Credit

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

 1 Total trade payables 1704.3 1827.6 1967.3 2076.5 2298.8 2321.7 2366.9 2412.0 2455.2 2425.2 2418.3 1

 2 Household sector 101.1 109.1 118.0 126.8 132.7 134.5 136.3 137.7 138.6 140.4 141.5 2

 3 Nonfinancial corporate business 877.5 927.0 992.1 1049.7 1194.1 1197.6 1215.6 1255.1 1286.2 1250.3 1233.2 3

 4 Nonfarm noncorporate business 86.2 116.8 147.8 170.9 196.4 202.9 211.2 214.8 218.8 222.0 224.8 4

 5 Farm business 16.2 17.4 18.8 19.6 20.0 19.2 20.8 20.9 20.9 20.1 21.5 5

 6 State and local governments 486.7 517.6 549.0 579.5 608.6 616.9 623.2 629.6 635.9 642.1 648.4 6

 7 Federal government 81.1 81.8 72.9 64.9 65.6 67.0 67.5 68.3 66.7 64.3 62.0 7

 8 Rest of the world 45.3 43.6 48.7 46.3 50.6 50.0 53.0 49.8 52.1 50.7 53.6 8

 9 Brokers and dealers 10.3 14.3 19.9 18.9 30.9 33.7 39.4 35.9 35.9 35.3 33.3 9

10 Total trade receivables 1512.3 1661.9 1840.5 2000.0 2177.9 2271.6 2354.1 2409.5 2366.5 2383.2 2402.3 10

11 Nonfinancial corporate business 1184.9 1273.1 1366.6 1452.9 1566.3 1639.0 1688.8 1725.9 1669.0 1667.1 1679.1 11

12 Nonfarm noncorporate business 140.3 169.8 204.9 245.6 291.4 301.6 321.2 325.5 332.2 337.2 340.7 12

13 Federal government 23.1 24.0 20.8 22.3 22.9 25.4 26.9 27.7 28.1 31.7 31.9 13

14 Rest of the world 51.0 57.1 60.3 51.7 46.8 46.4 47.4 49.6 52.5 54.1 53.0 14

15 Other insurance companies 57.3 57.2 59.9 61.5 63.6 66.1 67.2 68.7 64.6 67.6 68.6 15

16 ABS issuers 55.7 80.7 128.1 165.9 187.0 193.1 202.7 212.2 220.0 225.5 229.0 16

17 Discrepancy 192.0 165.7 126.8 76.6 120.9 50.1 12.8 2.5 88.7 42.1 16.0 17

L.224 Security Credit

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

 1 Total liabilities 305.7 358.1 469.1 572.3 676.6 795.4 775.5 800.4 817.6 799.4 781.8 1

 2 Household sector 78.6 94.4 131.2 152.8 227.9 282.4 267.8 271.4 233.7 195.8 195.9 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 227.1 263.7 337.9 419.6 448.7 513.0 507.8 529.0 583.9 603.6 585.8 4

 5 Customer credit balances (HH) 127.6 162.9 215.5 276.7 323.9 369.6 357.2 370.0 408.7 412.0 412.8 5

 6 From U.S.-chartered commercial banks 65.1 60.2 64.4 76.3 67.6 76.5 70.5 67.5 74.7 82.2 83.7 6

 7 From foreign banking offices in U.S. 34.4 40.6 58.0 66.6 57.2 66.8 80.1 91.5 100.5 109.4 89.3 7

 8 Total assets 305.7 358.1 469.1 572.3 676.6 795.4 775.5 800.4 817.6 799.4 781.8 8

 9 Household sector 127.6 162.9 215.5 276.7 323.9 369.6 357.2 370.0 408.7 412.0 412.8 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Commercial banking 99.5 100.8 122.5 142.9 124.8 143.4 150.6 159.0 175.2 191.6 173.0 11

12 Brokers and dealers 78.6 94.4 131.2 152.8 227.9 282.4 267.8 271.4 233.7 195.8 195.9 12
Z.1, September 18, 2001 97

L.225 Life Insurance and Pension Fund Reserves

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 Life insurance reserves:

 1 Total liabilities 566.2 610.6 665.0 718.3 783.9 801.0 806.5 818.7 819.1 823.0 844.6 1

 2 Federal government 29.9 30.5 32.3 33.6 35.0 35.2 35.9 36.0 36.4 36.6 37.1 2

 3 Life insurance companies 536.3 580.1 632.7 684.7 748.9 765.7 770.6 782.7 782.7 786.5 807.5 3

 4 Total assets (Households) 566.2 610.6 665.0 718.3 783.9 801.0 806.5 818.7 819.1 823.0 844.6 4

 Pension fund reserves:

 5 Total liabilities 5671.3 6325.1 7323.4 8193.7 9041.7 9237.9 9166.7 9307.9 9054.8 8603.5 8885.5 5

 6 Federal government (1) 506.3 561.4 601.7 642.9 684.0 673.0 683.3 697.4 704.9 713.3 724.9 6

 7 Life insurance companies 880.6 953.9 1086.1 1209.9 1367.3 1414.2 1403.2 1424.9 1373.8 1335.8 1405.1 7

 8 Private pension funds (2) 2964.0 3295.2 3793.6 4255.4 4728.0 4877.9 4799.4 4853.3 4644.6 4342.5 4481.1 8

 9 State and local govt. retirement funds 1320.4 1514.6 1842.0 2085.4 2262.3 2272.8 2280.8 2332.4 2331.5 2211.9 2274.4 9

10 Total assets (Households) (3) 5671.3 6325.1 7323.4 8193.7 9041.7 9237.9 9166.7 9307.9 9054.8 8603.5 8885.5 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, military retirement fund, judicial retirement funds, and foreign service retirement and disability fund.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies.

L.226 Taxes Payable by Businesses

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

 1 Total taxes payable by all businesses 109.3 128.8 151.1 172.4 194.7 210.1 212.7 214.8 216.4 224.2 219.8 1

 2 Nonfinancial corporate business 40.3 49.9 59.2 64.1 71.0 82.8 81.5 80.2 78.0 83.9 76.7 2

 3 Nonfarm noncorporate business 37.6 42.5 49.8 60.5 68.8 71.0 73.7 74.9 76.3 77.3 78.1 3

 4 U.S.-chartered commercial banks 2.8 4.0 5.4 7.1 9.0 9.5 10.0 10.6 11.1 11.7 12.3 4

 5 Savings institutions 1.6 1.4 1.8 2.0 2.0 1.7 1.8 2.1 2.4 2.3 2.0 5

 6 Life insurance companies 12.0 12.5 13.7 14.9 16.2 16.5 16.9 17.3 17.8 18.2 18.7 6

 7 Other insurance companies 9.0 11.6 13.4 15.4 17.4 17.9 18.5 19.0 19.7 20.3 21.0 7

 8 Finance companies 4.9 5.7 6.5 7.3 8.1 8.3 8.6 8.8 9.1 9.3 9.6 8

 9 Brokers and dealers 1.1 1.3 1.3 1.3 2.2 2.4 1.7 1.8 2.1 1.2 1.3 9

10 Total business taxes receivable 45.2 46.8 46.9 49.5 72.0 91.4 77.0 90.4 87.9 111.5 90.7 10

11 State and local governments 27.9 26.1 26.9 28.1 33.5 35.5 39.0 42.9 45.6 49.1 50.8 11

12 Federal government 17.3 20.7 20.0 21.4 38.5 55.9 37.9 47.4 42.4 62.3 39.9 12

13 Discrepancy 64.1 81.9 104.2 122.9 122.7 118.6 135.8 124.4 128.5 112.7 129.0 13

L.227 Investment in Bank Personal Trusts and Estates

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

 1 Liab.: Bank personal trusts and estates 803.0 871.3 942.5 1001.0 1130.4 1158.0 1114.4 1106.7 1019.4 929.1 964.4 1

 2 Asset: Household sector 803.0 871.3 942.5 1001.0 1130.4 1158.0 1114.4 1106.7 1019.4 929.1 964.4 2
98 Z.1, September 18, 2001

L.229 Total Miscellaneous Financial Claims

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 5997.0 6386.0 6727.4 7475.3 8040.5 8258.1 8539.8 8998.1 8845.1 9253.4 9506.9 1

 2 Household sector 17.5 18.3 18.6 17.2 19.4 18.7 18.9 18.8 19.6 18.7 18.8 2

 3 Nonfinancial corporate business 2211.8 2304.3 2180.6 2327.2 2379.8 2432.7 2436.3 2499.7 2484.5 2508.9 2510.8 3

 4 Nonfarm noncorporate business 214.8 245.5 301.3 415.1 471.0 482.5 494.1 504.3 517.2 525.9 534.8 4

 5 Federal government 6.7 7.3 6.6 6.7 6.6 6.6 6.5 6.6 6.4 6.5 6.4 5

 6 Rest of the world 1030.2 1155.6 1237.4 1388.8 1589.9 1635.3 1783.9 2023.9 1829.9 2198.5 2256.5 6

 7 Monetary authority 7.4 7.4 9.5 10.7 9.4 10.0 9.6 9.6 10.6 8.8 8.2 7

 8 Commercial banking 848.4 863.0 1023.7 1128.7 1079.9 1096.8 1143.2 1234.1 1248.4 1230.0 1265.5 8

 9 Savings institutions 106.1 103.5 101.4 99.8 85.4 82.0 86.1 92.7 102.5 108.4 119.7 9

10 Credit unions 4.5 4.6 4.6 5.2 6.0 5.4 6.1 7.5 5.6 0.5 1.5 10

11 Life insurance companies 524.6 567.5 625.4 687.7 747.2 764.1 765.3 775.4 760.3 756.5 773.0 11

12 Other insurance companies 501.6 509.9 522.3 527.9 540.3 542.2 547.2 551.7 546.3 549.8 551.3 12

13 Government-sponsored enterprises 66.9 67.2 75.1 95.3 89.3 93.8 89.8 87.9 96.7 119.8 118.7 13

14 Finance companies 202.4 205.5 216.7 234.4 307.1 350.6 343.4 373.2 389.2 403.3 423.6 14

15 Mortgage companies 16.5 20.6 16.0 17.7 17.8 17.1 17.8 17.7 17.9 18.1 18.3 15

16 REITs 6.7 9.2 18.0 31.6 36.0 35.9 37.4 38.5 37.8 42.6 37.3 16

17 Brokers and dealers 85.4 110.1 131.1 175.8 185.5 190.0 202.7 206.4 178.9 174.7 260.7 17

18 Funding corporations 145.5 186.5 239.0 305.3 470.0 494.4 551.5 550.3 593.3 582.5 602.0 18

19 Total assets 6818.1 7627.1 8289.5 9782.5 10833.0 11206.6 11549.5 11816.6 12216.9 12568.1 12729.5 19

20 Household sector 291.7 301.4 311.7 321.4 334.2 335.6 339.6 341.7 338.9 339.6 340.4 20

21 Nonfinancial corporate business 3076.0 3425.9 3643.3 4246.4 4846.6 4997.1 5109.4 5171.3 5314.0 5375.1 5395.5 21

22 Nonfarm noncorporate business 167.0 203.5 259.9 481.4 544.1 557.7 571.2 585.3 595.7 607.5 619.1 22

23 Farm business 44.5 44.4 44.8 45.4 45.6 45.6 46.0 46.2 45.5 45.6 45.9 23

24 State and local governments 55.4 41.0 27.0 11.5 13.1 21.5 21.9 25.0 24.1 40.5 46.5 24

25 Federal government 116.9 110.2 104.8 101.2 100.3 98.7 98.7 98.8 98.9 98.8 99.0 25

26 Rest of the world 840.9 1039.9 1107.7 1342.6 1513.9 1646.0 1755.9 1821.4 1946.4 2258.6 2167.6 26

27 Monetary authority 10.7 11.2 13.2 16.1 16.8 16.5 16.6 18.3 19.3 19.3 20.2 27

28 Commercial banking 797.8 823.7 934.0 1079.1 1108.3 1120.8 1151.7 1201.4 1221.5 1220.1 1288.0 28

29 Savings institutions 54.7 52.9 49.7 62.8 60.3 59.5 63.4 61.9 67.7 84.7 85.1 29

30 Credit unions 13.9 13.7 17.6 24.3 8.0 11.3 13.9 16.7 23.4 33.8 36.3 30

31 Bank personal trusts and estates 12.1 16.0 14.6 23.0 20.5 20.0 19.3 19.3 19.0 18.7 18.6 31

32 Life insurance companies 105.1 73.7 65.7 69.2 34.9 38.7 43.1 54.0 55.6 37.5 29.6 32

33 Other insurance companies 37.8 33.6 42.8 49.7 53.8 55.1 57.7 60.0 61.4 63.3 63.7 33

34 Private pension funds 505.2 555.5 590.9 642.3 682.1 693.7 694.1 702.5 692.9 675.5 689.6 34

35 State and local govt. retirement funds 54.6 62.8 63.5 66.1 81.0 79.4 82.3 85.0 89.0 92.9 94.2 35

36 Money market mutual funds 39.4 43.8 58.1 67.7 90.4 79.6 103.4 108.5 102.5 102.6 112.8 36

37 Mutual funds 6.3 4.7 11.8 7.9 3.6 1.9 1.9 2.6 3.1 1.7 1.6 37

38 Government-sponsored enterprises 27.5 60.6 67.8 68.5 73.5 77.0 80.8 82.8 85.5 85.5 83.2 38

39 Finance companies 129.6 151.5 170.4 186.5 234.9 234.7 234.1 248.1 259.9 264.2 264.9 39

40 REITs 7.3 5.6 10.5 21.2 21.1 21.5 20.8 22.0 21.1 21.8 22.8 40

41 Brokers and dealers 258.2 320.7 391.8 499.3 522.8 552.0 573.0 588.5 654.5 588.8 722.1 41

42 Funding corporations 165.5 230.7 288.0 348.7 423.1 442.7 450.7 455.1 477.1 492.0 482.7 42

43 Discrepancy -821.1 -1241.1 -1562.1 -2307.3 -2792.5 -2948.5 -3009.7 -2818.5 -3371.8 -3314.7 -3222.6 43
Z.1, September 18, 2001 99

L.230 Identified Miscellaneous Financial Claims - Part I

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 885.5 986.5 1067.4 1196.8 1328.0 1368.9 1404.5 1448.1 1445.2 1489.2 1526.9 1

 2 Asset: Nonfinancial corporate business 778.7 863.2 932.5 1048.4 1160.4 1194.5 1220.3 1252.3 1247.2 1284.2 1316.5 2

 3 Commercial banking 37.9 42.8 44.2 46.2 49.5 51.4 52.4 56.2 56.8 58.0 59.7 3

 4 Life insurance companies 5.6 6.6 8.6 9.4 11.9 12.9 13.3 14.2 13.8 14.7 15.3 4

 5 Other insurance companies 37.8 33.6 42.8 49.7 53.8 55.1 57.7 60.0 61.4 63.3 63.7 5

 6 Finance companies 22.8 27.9 35.1 35.6 41.1 43.3 48.2 52.1 51.9 53.9 56.0 6

 7 Brokers and dealers 2.8 12.4 4.2 7.5 11.2 11.7 12.6 13.3 14.2 15.1 15.8 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 641.1 698.7 750.7 806.4 948.1 963.6 1035.6 1104.4 1116.0 1161.0 1182.5 8

 9 Nonfarm noncorporate business 2.8 4.0 3.9 3.5 3.4 3.4 3.4 3.4 3.5 3.5 3.5 9

10 Commercial banking 32.7 30.3 38.8 44.2 63.3 68.4 68.9 69.7 72.9 73.2 77.1 10

11 Life insurance companies 13.8 17.6 25.2 27.9 40.2 40.8 43.2 48.7 59.2 63.0 66.2 11

12 Other insurance companies 36.8 38.5 46.2 47.5 57.4 58.3 59.8 62.4 64.1 65.6 64.7 12

13 Finance companies 24.8 29.7 35.7 38.3 49.7 47.8 48.6 49.9 67.3 73.2 77.9 13

14 Brokers and dealers 11.1 8.8 8.5 10.1 15.8 16.4 16.8 17.4 16.7 17.8 18.3 14

15 Funding corporations -83.1 -82.0 -85.7 -65.7 -83.5 -67.4 -54.3 -56.8 -30.3 -34.9 -0.2 15

16 Asset: Rest of the world 680.1 745.6 823.1 912.2 1094.4 1131.4 1221.9 1299.2 1369.5 1422.4 1490.0 16

 Federal government equity in IBRD, etc.:

17 Liab.: Rest of the world 27.4 29.2 30.8 32.4 33.9 34.2 34.6 34.9 35.4 35.9 36.4 17

18 Asset: Federal government 27.4 29.2 30.8 32.4 33.9 34.2 34.6 34.9 35.4 35.9 36.4 18

 Federal Reserve Bank stock:

19 Liab.: Monetary authority 4.0 4.6 5.4 6.0 6.4 6.7 6.9 6.9 7.0 7.0 7.1 19

20 Asset: Commercial banking 4.0 4.6 5.4 6.0 6.4 6.7 6.9 6.9 7.0 7.0 7.1 20

 Equity in government-sponsored enterprises:

21 Liab.: Government-sponsored enterprises 20.1 21.3 21.9 25.3 30.8 31.8 31.6 32.0 33.0 28.0 30.7 21

22 Asset: Nonfin. corporate business (FNMA) 1.8 1.6 0.5 -0.2 -0.8 -0.8 -1.2 -1.1 -0.8 -6.5 -4.2 22

23 Nonfarm noncorporate (BC) 1.0 1.7 1.7 1.6 1.6 1.7 1.6 1.6 1.6 1.6 1.5 23

24 Farm business (FICB and FLB) 2.2 1.5 1.5 1.7 1.6 1.5 1.6 1.6 1.6 1.6 1.7 24

25 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Commercial banks (FHLB) 5.8 6.7 8.0 10.0 13.0 13.4 13.4 13.4 13.8 14.1 14.2 26

27 Savings institutions (FHLB) 9.1 9.5 9.9 11.8 14.5 15.1 15.3 15.5 15.7 16.2 16.5 27

28 Credit unions (FHLB) 0.2 0.2 0.2 0.3 0.5 0.6 0.6 0.6 0.6 0.7 0.7 28

29 Life insurance companies (FHLB) 0.1 0.2 0.2 0.2 0.3 0.3 0.3 0.4 0.4 0.3 0.2 29

 BHC investment in subsidiaries:

30 Liab.: Commercial banking 344.3 372.9 413.6 469.0 471.9 492.1 501.0 514.8 525.4 541.8 567.8 30

31 Savings institutions 4.5 4.7 5.0 5.4 6.0 6.1 6.3 6.4 6.6 6.8 7.0 31

32 Finance companies 25.5 30.2 32.3 30.9 61.9 72.6 68.4 72.1 73.2 69.2 72.9 32

33 Mortgage companies 16.5 20.6 16.0 17.7 17.8 17.1 17.8 17.7 17.9 18.1 18.3 33

34 Brokers and dealers 18.1 9.5 36.5 80.0 65.5 88.6 92.5 102.7 115.7 133.2 134.0 34

35 Asset: Bank holding companies 408.9 437.8 503.5 603.0 623.0 676.4 686.0 713.7 738.9 769.2 799.9 35

 NFC inv. in finance company subs.:

36 Liab.: Finance companies 25.5 30.2 32.3 30.9 61.9 72.6 68.4 72.1 73.2 69.2 72.9 36

37 Asset: Nonfinancial corporate business 25.5 30.2 32.3 30.9 61.9 72.6 68.4 72.1 73.2 69.2 72.9 37

 Funding corp. investment in subs.:

38 Liab.: Foreign banking offices in U.S. 50.7 64.5 78.8 90.6 93.0 114.6 114.5 119.9 138.7 142.3 137.3 38

39 Brokers and dealers 114.8 166.3 209.2 258.2 330.1 328.1 336.2 335.2 338.4 349.7 345.5 39

40 Asset: Funding corporations 165.5 230.7 288.0 348.7 423.1 442.7 450.7 455.1 477.1 492.0 482.7 40
100 Z.1, September 18, 2001

L.231 Identified Miscellaneous Financial Claims - Part II

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 2.3 2.1 2.1 1.9 2.6 2.3 2.3 2.4 2.6 2.5 2.5 1

 2 Asset: Federal government 2.3 2.1 2.1 1.9 2.6 2.3 2.3 2.4 2.6 2.5 2.5 2

 Postal Savings System deposits:

 3 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 Deposits at Federal Home Loan Banks:

 5 Liab.: Government-sponsored enterprises 19.3 18.0 18.0 24.9 17.1 15.1 12.9 13.6 17.0 29.9 26.2 5

 6 Asset: Savings institutions 19.3 18.0 18.0 24.9 17.1 15.1 12.9 13.6 17.0 29.9 26.2 6

 Deferred and unpaid life insurance premiums:

 7 Liab.: Household sector 17.5 18.3 18.6 17.2 19.4 18.7 18.9 18.8 19.6 18.7 18.8 7

 8 Asset: Life insurance companies 17.5 18.3 18.6 17.2 19.4 18.7 18.9 18.8 19.6 18.7 18.8 8

 Life insurance company reserves:

 9 Liab.: Life insurance companies 96.9 103.9 112.2 120.1 131.9 132.8 135.4 136.7 136.8 136.8 136.5 9

10 Health 63.2 69.4 75.7 83.0 93.5 94.4 96.5 97.1 97.4 96.8 96.8 10

11 Policy dividend accumulation 33.7 34.5 36.4 37.1 38.4 38.4 38.8 39.6 39.5 40.0 39.7 11

12 Asset: Household sector 96.9 103.9 112.2 120.1 131.9 132.8 135.4 136.7 136.8 136.8 136.5 12

 Policy payables:

13 Liab.: Other insurance companies 464.8 471.4 476.2 480.4 482.9 483.9 487.5 489.3 482.1 484.2 486.6 13

14 Asset: Household sector 194.7 197.5 199.5 201.3 202.3 202.7 204.2 205.0 202.0 202.9 203.9 14

15 Nonfinancial corporate business 183.6 186.2 188.1 189.8 190.8 191.1 192.5 193.3 190.4 191.3 192.2 15

16 Nonfarm noncorporate business 44.2 44.8 45.2 45.6 45.9 46.0 46.3 46.5 45.8 46.0 46.2 16

17 Farm business 42.3 42.9 43.3 43.7 43.9 44.0 44.4 44.5 43.9 44.1 44.3 17

 Unallocated insurance company contracts:

18 Liab.: Life insurance companies 332.2 361.1 381.9 422.8 457.1 467.2 465.0 471.5 460.7 442.5 455.2 18

19 Asset: Private pension funds 332.2 361.1 381.9 422.8 457.1 467.2 465.0 471.5 460.7 442.5 455.2 19

 Pension fund contributions payable:

20 Liab.: Nonfinancial corporate business 82.4 86.4 93.5 95.4 96.4 96.7 96.9 97.2 97.4 97.7 97.9 20

21 Asset: Private pension funds 82.4 86.4 93.5 95.4 96.4 96.7 96.9 97.2 97.4 97.7 97.9 21

 Securities borrowed (net):

22 Liab.: Funding corporations 216.2 276.1 333.3 403.3 419.5 446.1 467.5 470.0 505.8 487.8 541.0 22

23 Asset: Brokers and dealers 216.2 276.1 333.3 403.3 419.5 446.1 467.5 470.0 505.8 487.8 541.0 23
Z.1, September 18, 2001 101

L.232 Unidentified Miscellaneous Financial Claims

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total liabilities 2548.5 2562.8 2519.0 2754.1 2812.0 2830.6 2948.8 3236.5 2943.8 3240.4 3295.5 1

 2 Nonfinancial corporate business 1488.3 1519.2 1336.4 1425.4 1335.3 1372.4 1303.8 1298.0 1271.2 1250.2 1230.3 2

 3 Nonfarm noncorporate business 212.0 241.5 297.5 411.7 467.7 479.2 490.7 500.9 513.7 522.4 531.3 3

 4 Federal government 6.7 7.3 6.6 6.7 6.6 6.6 6.5 6.6 6.4 6.5 6.4 4

 5 Rest of the world 115.0 137.7 137.0 157.7 225.5 230.0 342.5 538.4 346.8 670.9 690.7 5

 6 Monetary authority 3.5 2.8 4.0 4.8 3.0 3.3 2.8 2.7 3.6 1.8 1.0 6

 7 Commercial banking 420.7 395.4 492.5 525.0 451.7 421.8 458.7 529.7 511.4 472.6 483.4 7

 8 U.S.-chartered commercial banks 160.7 147.7 185.1 206.6 181.2 200.4 212.6 253.9 263.3 225.8 206.4 8

 9 Foreign banking offices in U.S. 225.1 200.5 233.9 222.4 158.4 117.7 138.8 147.4 119.0 107.3 119.0 9

10 Bank holding companies 24.6 36.3 57.9 74.1 88.1 78.9 82.1 101.4 104.4 115.0 134.6 10

11 Banks in U.S.-affiliated areas 10.3 10.9 15.6 21.9 24.1 24.7 25.3 26.9 24.8 24.5 23.4 11

12 Savings institutions 101.6 98.8 96.4 94.4 79.4 75.9 79.8 86.2 95.9 101.6 112.7 12

13 Credit unions 4.5 4.6 4.6 5.2 6.0 5.4 6.1 7.5 5.6 0.5 1.5 13

14 Life insurance companies 81.6 84.9 106.2 116.9 118.0 123.2 121.6 118.5 103.5 114.3 115.1 14

15 Government-sponsored enterprises 27.6 28.0 35.1 45.2 41.4 47.0 45.4 42.3 46.7 61.8 61.8 15

16 Finance companies 126.5 115.6 116.3 134.3 133.5 157.7 158.0 179.0 175.4 191.7 199.8 16

17 REITs 6.7 9.2 18.0 31.6 36.0 35.9 37.4 38.5 37.8 42.6 37.3 17

18 Brokers and dealers -58.6 -74.4 -123.1 -172.5 -225.9 -243.2 -242.7 -248.8 -291.8 -326.1 -237.0 18

19 Funding corporations 12.4 -7.6 -8.6 -32.2 133.9 115.7 138.3 137.1 117.9 129.6 61.1 19

20 Total assets 3369.6 3803.9 4081.1 5061.4 5604.5 5779.2 5958.5 6055.1 6315.6 6555.1 6518.1 20

21 Nonfinancial corporate business 2086.4 2344.8 2489.9 2977.6 3434.3 3539.7 3629.3 3654.6 3803.9 3836.9 3818.1 21

22 Nonfarm noncorporate business 121.9 157.1 213.0 434.2 496.6 510.0 523.3 537.2 548.3 559.9 571.3 22

23 State and local governments 55.4 41.0 27.0 11.5 13.1 21.5 21.9 25.0 24.1 40.5 46.5 23

24 Federal government 87.2 78.8 71.9 66.9 63.9 62.2 61.8 61.5 61.0 60.4 60.2 24

25 Rest of the world 160.8 294.3 284.5 430.5 419.5 514.7 534.0 522.2 576.9 836.2 677.6 25

26 Monetary authority 10.7 11.2 13.2 16.1 16.8 16.5 16.6 18.3 19.3 19.3 20.2 26

27 Commercial banking 341.2 331.8 372.9 414.0 416.4 372.8 393.2 411.2 404.9 371.9 407.0 27

28 U.S.-chartered commercial banks 78.9 78.7 87.6 113.1 109.0 114.2 113.2 113.1 115.2 126.9 123.1 28

29 Foreign banking offices in U.S. 218.5 197.2 234.3 234.6 213.3 170.7 184.4 190.5 176.8 132.9 167.6 29

30 Bank holding companies 39.8 51.1 44.4 56.5 85.4 79.6 86.8 98.4 106.3 105.0 108.6 30

31 Banks in U.S.-affiliated areas 4.0 4.8 6.6 9.7 8.7 8.4 8.8 9.2 6.6 7.1 7.8 31

32 Savings institutions 26.4 25.3 21.7 26.2 28.7 29.4 35.2 32.8 34.9 38.5 42.4 32

33 Credit unions 13.8 13.6 17.3 24.0 7.5 10.7 13.3 16.1 22.8 33.1 35.6 33

34 Bank personal trusts and estates 12.1 16.0 14.6 23.0 20.5 20.0 19.3 19.3 19.0 18.7 18.6 34

35 Life insurance companies 81.9 48.7 38.3 42.4 3.2 6.9 10.6 20.8 21.9 3.7 -4.7 35

36 Private pension funds 90.6 108.0 115.4 124.1 128.6 129.8 132.1 133.8 134.8 135.3 136.4 36

37 State and local govt. retirement funds 54.6 62.8 63.5 66.1 81.0 79.4 82.3 85.0 89.0 92.9 94.2 37

38 Mutual funds 6.3 4.7 11.8 7.9 3.6 1.9 1.9 2.6 3.1 1.7 1.6 38

39 Money market mutual funds 39.4 43.8 58.1 67.7 90.4 79.6 103.4 108.5 102.5 102.6 112.8 39

40 Government-sponsored enterprises 27.5 60.6 67.8 68.5 73.5 77.0 80.8 82.8 85.5 85.5 83.2 40

41 Finance companies 106.8 123.7 135.3 150.9 193.8 191.4 185.9 196.0 208.0 210.3 209.0 41

42 REITs 7.3 5.6 10.5 21.2 21.1 21.5 20.8 22.0 21.1 21.8 22.8 42

43 Brokers and dealers 39.2 32.2 54.4 88.6 92.1 94.1 93.0 105.2 134.6 85.8 165.3 43

44 Discrepancy -821.1 -1241.1 -1562.1 -2307.3 -2792.5 -2948.5 -3009.7 -2818.5 -3371.8 -3314.7 -3222.6 44
102 Z.1, September 18, 2001

B.100 Balance Sheet of Households and Nonprofit Organizations (1)

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Assets 32333.0 35150.3 39240.3 43192.3 48717.6 49789.4 49388.1 49668.8 48416.4 46965.5 48093.1 1

 2 Tangible assets 10696.8 11189.5 11923.2 12802.1 13804.8 14112.3 14546.0 14921.9 15277.9 15604.9 15889.4 2

 3 Real estate 8425.0 8844.8 9503.8 10274.0 11095.2 11345.9 11721.0 12047.9 12353.2 12625.8 12879.1 3

 4 Households (2,3) 7630.0 8010.2 8563.3 9215.5 9979.4 10218.9 10540.4 10839.8 11127.3 11394.9 11643.9 4

 5 Nonprofit organizations 795.1 834.6 940.5 1058.5 1115.8 1127.0 1180.6 1208.2 1225.9 1231.0 1235.2 5

 Equipment and software owned by

 6 nonprofit organizations (4) 83.0 85.6 90.6 97.3 105.2 107.9 110.7 113.7 116.1 117.2 118.5 6

 7 Consumer durable goods (4) 2188.7 2259.2 2328.8 2430.8 2604.5 2658.4 2714.3 2760.2 2808.6 2861.8 2891.8 7

 8 Financial assets 21636.2 23960.8 27317.1 30390.2 34912.8 35677.1 34842.1 34747.0 33138.5 31360.6 32203.6 8

 9 Deposits 3306.9 3451.4 3636.7 3986.3 4146.3 4308.0 4291.3 4380.4 4549.4 4735.0 4701.4 9

10 Foreign deposits 23.4 35.5 37.2 38.3 43.5 48.6 48.6 48.0 51.3 49.8 45.8 10

11 Checkable deposits and currency 495.9 425.2 368.3 360.0 278.5 258.2 218.2 202.0 231.2 231.9 232.1 11

12 Time and savings deposits 2337.5 2490.1 2649.0 2840.8 2952.6 3050.0 3110.1 3193.5 3264.0 3359.9 3401.7 12

13 Money market fund shares 450.1 500.7 582.3 747.1 871.6 951.2 914.4 936.9 1003.0 1093.4 1021.8 13

14 Credit market instruments 1927.8 2082.5 2018.6 1941.8 2151.6 2079.2 2065.0 2021.3 1977.3 1907.4 1887.4 14

15 Open market paper 48.0 54.7 56.1 63.7 67.7 68.9 70.2 71.4 72.7 67.2 62.7 15

16 U.S. government securities 899.7 998.4 865.0 676.7 829.2 762.9 677.0 648.2 620.0 489.9 481.3 16

17 Treasury 739.5 739.1 598.8 485.5 542.0 489.0 380.3 342.5 331.6 313.3 261.7 17

18 Savings bonds 185.0 187.0 186.5 186.6 186.4 185.3 184.6 184.3 184.8 184.8 186.0 18

19 Other Treasury 554.5 552.1 412.3 298.9 355.6 303.7 195.7 158.2 146.9 128.6 75.8 19

20 Agency 160.2 259.4 266.2 191.2 287.2 274.0 296.7 305.7 288.4 176.6 219.6 20

21 Municipal securities 455.4 433.2 468.8 488.3 526.6 529.1 542.9 543.1 541.1 550.2 571.5 21

22 Corporate and foreign bonds 415.3 486.7 519.1 602.6 617.8 607.1 663.5 646.9 631.7 688.1 660.1 22

23 Mortgages 109.5 109.5 109.6 110.5 110.2 111.2 111.5 111.7 111.8 111.9 111.7 23

24 Corporate equities (2) 4182.9 4872.3 6209.5 7190.4 9284.7 9409.8 8688.9 8305.2 7042.9 5942.6 6295.6 24

25 Mutual fund shares (5) 1158.9 1495.4 1941.2 2362.0 3066.3 3302.7 3240.1 3279.5 3043.2 2739.3 2929.6 25

26 Security credit 127.6 162.9 215.5 276.7 323.9 369.6 357.2 370.0 408.7 412.0 412.8 26

27 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 801.0 806.5 818.7 819.1 823.0 844.6 27

28 Pension fund reserves 5671.3 6325.1 7323.4 8193.7 9041.7 9237.9 9166.7 9307.9 9054.8 8603.5 8885.5 28

29 Investment in bank personal trusts 803.0 871.3 942.5 1001.0 1130.4 1158.0 1114.4 1106.7 1019.4 929.1 964.4 29

30 Equity in noncorporate business (6) 3600.0 3787.8 4053.2 4398.7 4649.9 4675.4 4772.2 4815.5 4884.7 4929.1 4941.8 30

31 Miscellaneous assets 291.7 301.4 311.7 321.4 334.2 335.6 339.6 341.7 338.9 339.6 340.4 31

32 Liabilities 5111.0 5440.4 5808.7 6291.9 6881.8 7001.7 7150.3 7318.3 7455.7 7488.6 7663.9 32

33 Credit market instruments 4913.8 5218.6 5540.9 5995.1 6501.7 6566.0 6727.4 6890.5 7063.8 7133.7 7307.6 33

34 Home mortgages (7) 3383.0 3574.9 3809.5 4155.2 4538.9 4604.9 4717.7 4824.4 4916.2 4997.5 5143.2 34

35 Consumer credit 1122.8 1211.6 1264.1 1331.7 1426.2 1416.0 1454.0 1495.3 1566.5 1558.6 1581.1 35

36 Municipal securities (8) 98.3 104.9 114.9 126.9 137.3 138.0 141.4 141.9 143.0 144.2 145.3 36

37 Bank loans n.e.c. 57.4 58.0 66.6 72.9 65.7 69.6 70.9 67.5 73.9 63.5 60.0 37

38 Other loans and advances 160.3 172.7 190.7 204.0 218.9 222.8 227.4 242.1 246.3 251.1 255.4 38

39 Commercial mortgages (8) 91.9 96.6 95.1 104.4 114.8 114.7 115.8 119.3 117.9 118.8 122.6 39

40 Security credit 78.6 94.4 131.2 152.8 227.9 282.4 267.8 271.4 233.7 195.8 195.9 40

41 Trade payables (8) 101.1 109.1 118.0 126.8 132.7 134.5 136.3 137.7 138.6 140.4 141.5 41

 Deferred and unpaid

42 life insurance premiums 17.5 18.3 18.6 17.2 19.4 18.7 18.9 18.8 19.6 18.7 18.8 42

43 Net worth 27222.0 29709.8 33431.5 36900.4 41835.8 42787.7 42237.8 42350.6 40960.7 39476.9 40429.2 43

 Memo:

 Replacement-cost value of structures:

44 Residential 6012.5 6352.4 6712.9 7158.5 7662.8 7859.6 7968.9 8114.3 8247.3 8379.2 8483.3 44

45 Households 5717.7 6049.9 6396.0 6826.9 7321.0 7511.5 7619.4 7762.2 7892.9 8021.5 8124.6 45

46 Farm households 174.0 178.9 188.7 198.0 203.8 207.4 208.1 209.5 210.8 212.7 213.1 46

47 Nonprofit organizations 120.8 123.7 128.2 133.5 138.1 140.7 141.4 142.5 143.6 145.1 145.6 47

48 Nonresidential (nonprofits) 596.2 624.2 664.8 710.9 751.9 767.7 778.9 793.6 808.7 827.2 840.7 48

49 Disposable personal income 5422.6 5677.7 5968.2 6355.6 6618.0 6859.1 6993.7 7081.3 7189.8 7295.0 7367.1 49

 Household net worth as percentage of

50 disposable personal income 502.0 523.3 560.2 580.6 632.2 623.8 603.9 598.1 569.7 541.2 548.8 50

 Owners’ equity in household real

51 estate (9) 4246.9 4435.3 4753.8 5060.4 5440.5 5614.0 5822.7 6015.4 6211.1 6397.4 6500.7 51

 Owners’ equity as percentage of

52 household real estate (10) 55.7 55.4 55.5 54.9 54.5 54.9 55.2 55.5 55.8 56.1 55.8 52

(1) Sector includes farm households.

(2) At market value.

(3) Includes vacant land and vacant homes for sale.

(4) At replacement (current) cost.

(5) Value based on the market values of equities held and the book value of other assets held by mutual funds.

(6) Owners’ equity in noncorporate business, farm business, and unincorporated security brokers and dealers.

(7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 24.

(8) Liabilities of nonprofit organizations.

(9) Line 4 less line 34.

(10) Line 51 divided by line 4.
Z.1, September 18, 2001 103

B.102 Balance Sheet of Nonfarm Nonfinancial Corporate Business

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

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 With tangible assets stated at either market value or replacement cost:

 1 Assets 11738.0 12726.9 13689.3 14916.9 16319.6 16665.0 17006.0 17118.1 17315.0 17378.5 17480.6 1

 2 Tangible assets 6777.1 7266.8 7882.6 8371.5 8939.9 9071.5 9211.6 9189.8 9305.3 9342.6 9387.4 2

 3 Real estate (1) 3317.7 3660.9 4100.9 4401.5 4748.9 4802.7 4860.9 4755.6 4802.9 4806.0 4806.4 3

 4 Equipment and software (2) 2389.6 2515.2 2641.4 2790.0 2942.2 2999.7 3058.4 3122.8 3170.6 3186.4 3212.6 4

 5 Inventories (2) 1069.8 1090.7 1140.3 1180.0 1248.8 1269.0 1292.3 1311.4 1331.9 1350.2 1368.4 5

 6 Financial assets 4960.9 5460.1 5806.7 6545.4 7379.7 7593.5 7794.3 7928.3 8009.6 8035.9 8093.2 6

 7 Foreign deposits 15.6 26.1 21.0 28.4 26.1 20.2 24.4 37.7 22.2 16.3 13.3 7

 8 Checkable deposits and currency 252.9 289.8 320.5 335.4 410.1 415.1 440.6 453.5 440.0 407.1 411.6 8

 9 Time and savings deposits 42.9 43.6 36.3 31.3 35.3 28.5 29.3 30.3 34.2 34.4 34.6 9

10 Money market fund shares 60.0 67.6 87.8 114.3 137.3 139.3 140.0 155.9 177.7 210.3 238.4 10

11 Security RPs 2.4 3.9 4.6 4.2 5.3 6.1 4.2 4.0 5.2 4.7 4.0 11

12 Commercial paper 20.1 31.5 36.1 39.4 43.7 38.3 37.1 40.3 43.3 42.9 39.0 12

13 U.S. government securities 80.5 75.6 34.8 34.2 32.1 36.7 41.5 42.3 34.1 34.7 31.8 13

14 Municipal securities 36.8 31.0 27.4 25.7 22.3 23.9 36.3 27.6 33.2 32.2 33.4 14

15 Mortgages 57.9 54.4 80.2 67.3 60.3 59.0 57.8 56.5 55.3 54.0 52.8 15

16 Consumer credit 85.1 77.7 78.9 74.9 80.3 72.9 73.5 72.1 82.7 71.4 68.0 16

17 Trade receivables 1184.9 1273.1 1366.6 1452.9 1566.3 1639.0 1688.8 1725.9 1669.0 1667.1 1679.1 17

18 Mutual fund shares (1) 45.7 59.9 69.1 91.0 113.9 117.5 111.4 111.0 98.8 85.9 91.6 18

19 Miscellaneous assets 3076.0 3425.9 3643.3 4246.4 4846.6 4997.1 5109.4 5171.3 5314.0 5375.1 5395.5 19

20 Liabilities 6009.5 6378.6 6628.8 7232.6 7920.1 8140.2 8307.6 8469.8 8561.5 8646.4 8718.2 20

21 Credit market instruments 2879.9 3097.3 3396.9 3791.6 4275.2 4427.2 4574.2 4634.8 4712.7 4803.3 4897.5 21

22 Commercial paper 157.4 156.4 168.6 193.0 230.3 260.8 296.8 307.0 278.4 253.2 223.3 22

23 Municipal securities (3) 134.8 137.9 142.0 147.8 152.8 153.3 153.4 153.9 154.2 154.7 155.6 23

24 Corporate bonds (4) 1344.1 1460.4 1610.9 1829.6 2059.5 2106.0 2144.5 2190.6 2234.5 2335.4 2441.3 24

25 Bank loans n.e.c. 601.8 642.1 692.7 774.5 847.5 868.3 902.5 909.0 921.8 923.2 900.4 25

26 Other loans and advances 453.7 472.2 520.6 567.9 605.5 642.8 664.7 651.3 681.3 682.0 698.2 26

27 Mortgages 188.3 228.4 262.1 278.9 379.6 396.0 412.4 423.0 442.6 454.9 478.6 27

28 Trade payables 877.5 927.0 992.1 1049.7 1194.1 1197.6 1215.6 1255.1 1286.2 1250.3 1233.2 28

29 Taxes payable 40.3 49.9 59.2 64.1 71.0 82.8 81.5 80.2 78.0 83.9 76.7 29

30 Miscellaneous liabilities 2211.8 2304.3 2180.6 2327.2 2379.8 2432.7 2436.3 2499.7 2484.5 2508.9 2510.8 30

31 Net worth (market value) 5728.4 6348.3 7060.5 7684.3 8399.5 8524.8 8698.3 8648.3 8753.5 8732.2 8762.4 31

 Memo:

 Replacement-cost value of structures:

32 Residential 78.2 81.6 86.5 91.7 96.4 98.7 99.6 100.8 101.9 103.4 104.1 32

33 Nonresidential 3091.5 3249.1 3456.2 3602.0 3790.6 3865.5 3916.8 3986.1 4057.1 4145.5 4208.0 33

 Market value of equities outstanding

34 (includes corporate farm equities) 6435.0 7618.6 9674.9 11521.8 15030.3 15598.4 14723.5 14200.9 12243.1 10599.0 11315.7 34

35 Debt/net worth (percent) (5) 50.3 48.8 48.1 49.3 50.9 51.9 52.6 53.6 53.8 55.0 55.9 35

36 Debt/equities (percent) (6) 44.8 40.7 35.1 32.9 28.4 28.4 31.1 32.6 38.5 45.3 43.3 36

37 Equities/net worth (percent) (7) 112.3 120.0 137.0 149.9 178.9 183.0 169.3 164.2 139.9 121.4 129.1 37

 With tangible assets stated at historical cost:

38 Assets (8) 9940.6 10735.2 11395.4 12484.1 13686.7 14033.3 14324.8 14590.3 14765.9 14899.6 15066.6 38

39 Tangible assets 4979.7 5275.1 5588.7 5938.7 6307.0 6439.7 6530.5 6662.0 6756.3 6863.6 6973.4 39

40 Real estate 1937.3 2044.3 2159.6 2288.2 2417.3 2450.5 2481.6 2517.2 2552.3 2591.9 2628.6 40

41 Equipment and software 2010.9 2163.1 2330.1 2513.1 2721.2 2779.8 2840.9 2901.7 2959.1 3010.2 3050.1 41

42 Inventories 1031.5 1067.7 1099.0 1137.3 1168.5 1209.4 1208.0 1243.1 1244.9 1261.6 1294.7 42

43 Net worth (historical cost) (9) 3931.1 4356.6 4766.6 5251.5 5766.6 5893.1 6017.2 6120.4 6204.4 6253.2 6348.4 43

 Memo:

 Historical-cost value of structures:

44 Residential 32.5 34.0 35.6 37.3 39.2 40.0 40.8 41.6 42.6 43.7 44.8 44

45 Nonresidential 1709.9 1810.8 1923.6 2053.4 2178.5 2211.1 2245.1 2281.2 2318.6 2358.3 2395.8 45

46 Debt/net worth (percent) (10) 73.3 71.1 71.3 72.2 74.1 75.1 76.0 75.7 76.0 76.8 77.1 46

 (1) At market value.

 (2) At replacement (current) cost.

 (3) 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.

 (4) 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.

 (5) Line 21 divided by line 31.

 (6) Line 21 divided by line 34.

 (7) Line 34 divided by line 31.

 (8) Sum of lines 6 and 39.

 (9) Line 38 less line 20.

 (10) Line 21 divided by line 43.
104 Z.1, September 18, 2001

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Change in net worth (1) 2704.6 2487.9 3721.7 3468.9 4935.4 951.9 -549.9 112.8 -1389.9 -1483.7 952.2 1

 2 Net investment 367.3 405.4 334.8 453.6 318.0 76.4 -17.2 72.0 145.6 159.6 -10.7 2

 3 Net physical investment 294.0 310.6 366.6 438.6 489.5 117.1 134.4 142.8 129.3 106.5 128.6 3

 4 Capital expenditures 876.3 907.2 982.0 1081.4 1166.6 294.0 315.0 327.3 317.3 298.1 326.2 4

 5 - Consumption of fixed capital 582.2 596.6 615.4 642.8 677.1 176.9 180.6 184.5 188.0 191.6 197.5 5

 6 Net financial investment 73.2 94.8 -31.8 15.0 -171.5 -40.7 -151.6 -70.8 16.2 53.1 -139.3 6

 7 Net acquisition of financial assets 424.6 458.0 336.2 498.1 418.1 79.2 -3.0 86.1 145.7 86.0 36.0 7

 8 - Net increase in liabilities 351.4 363.1 368.0 483.1 589.6 119.9 148.6 156.9 129.5 32.9 175.3 8

 Holding gains on assets stated

 9 at market value (2) 2430.5 2068.7 3529.5 3143.5 4611.4 888.7 -529.6 62.6 -1479.9 -1636.6 988.5 9

10 Real estate 225.3 247.2 462.5 543.1 575.6 203.5 302.5 247.7 233.1 227.2 181.6 10

11 Corporate equities 1177.3 882.0 1630.6 1229.6 2358.7 277.4 -623.3 -285.6 -1126.2 -1012.3 409.5 11

12 Mutual fund shares 96.2 141.0 186.2 177.4 562.6 154.7 -126.5 -20.9 -260.1 -331.0 109.8 12

13 Equity in noncorporate business 204.4 219.5 337.2 419.5 300.3 50.9 95.9 43.3 75.4 66.7 7.7 13

 Life insurance and

14 pension fund reserves 630.2 505.5 791.9 673.6 678.3 167.5 -142.8 78.3 -321.8 -503.4 239.0 14

 Investment in bank personal

15 trusts and estates 97.2 73.6 121.1 100.3 135.9 34.7 -35.4 -0.4 -80.3 -83.8 41.0 15

 Holding gains on assets stated

16 at current cost (2) -50.5 -55.1 -96.9 -103.0 -56.2 -12.4 -6.0 -15.4 -9.1 -7.2 -27.1 16

17 Consumer durable goods -50.8 -53.6 -94.9 -100.8 -56.2 -12.8 -6.4 -16.1 -9.3 -6.5 -26.8 17

18 Equipment and software 0.2 -1.5 -2.0 -2.2 -0.1 0.5 0.4 0.7 0.2 -0.8 -0.3 18

19 Other factors (3) -42.6 68.8 -45.7 -25.2 62.1 -0.8 2.8 -6.4 -46.4 0.5 1.5 19

 Memo:

20 Net worth outstanding (4) 27222.0 29709.8 33431.5 36900.4 41835.8 42787.7 42237.8 42350.6 40960.7 39476.9 40429.2 20

21 Disposable personal income 5422.6 5677.7 5968.2 6355.6 6618.0 6859.1 6993.7 7081.3 7189.8 7295.0 7367.1 21

(1) Sum of net investment (line 2), holding gains (lines 9 and 16), and other factors (line 19).

(2) Calculated as change in amount outstanding during period less net purchases during period.

(3) Consists of estimates of land purchases, difference between series for consumption of fixed capital published by BEA, and statistical discontinuities.

(4) Table B.100, line 43.
Z.1, September 18, 2001 105

R.102 Change in Net Worth of Nonfarm Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

1995 1996 1997 1998 1999 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 With tangible assets valued at either market or replacement cost:

 1 Change in net worth (1) 471.3 619.9 712.1 623.8 715.1 125.4 173.5 -50.0 105.2 -21.3 30.3 1

 2 Net investment flow 210.7 155.7 24.2 -13.9 148.5 67.9 30.7 41.2 -17.8 8.3 41.6 2

 3 Net physical investment 236.3 220.3 271.7 303.5 379.1 100.3 108.0 107.8 95.5 78.6 67.1 3

 4 Capital expenditures 660.4 687.7 778.6 845.1 934.4 241.2 253.0 257.6 250.3 236.6 224.7 4

 5 - Consumption of fixed capital 434.3 459.5 489.7 519.2 556.5 145.9 149.0 152.4 155.1 158.1 162.3 5

 6 - Inventory valuation adjustment -18.3 3.1 8.5 18.4 -2.9 -5.0 -4.2 -2.7 -0.4 -0.2 -4.7 6

 7 - Access rights from fed. government 8.1 4.8 8.8 4.1 1.7 0 0.3 0.2 0.1 0.1 0.1 7

 8 Net financial investment 32.7 4.8 -133.1 -50.4 -87.1 -47.7 -16.0 -44.7 -14.6 -61.8 -16.6 8

 9 Net acquisition of financial assets 423.6 403.3 150.3 570.6 638.4 189.4 180.6 126.6 79.4 26.3 57.3 9

10 - Net increase in liabilities 390.8 398.5 283.5 621.0 725.5 237.0 196.6 171.3 94.0 88.2 73.9 10

11 Corporate equity issues -58.3 -69.5 -114.4 -267.0 -143.5 15.3 -61.3 -21.9 -98.7 -8.5 -8.8 11

 Holding gains on assets stated

12 at market value (2) 125.1 289.9 396.0 251.5 285.4 36.8 38.1 -128.3 17.0 -35.3 -16.4 12

13 Real estate 115.1 279.0 378.6 236.9 260.6 32.8 43.7 -128.3 28.7 -22.9 -22.6 13

14 Mutual fund shares 10.0 10.9 17.5 14.6 24.8 4.0 -5.6 -0.0 -11.7 -12.4 6.2 14

 Holding gains on assets stated

 at current cost less holding

 gains on liabilities stated

15 at current cost (2) 30.0 8.1 -1.5 30.4 32.3 -1.5 -7.8 0.1 -28.7 -17.4 2.3 15

16 Equipment and software 18.1 -17.0 -36.5 -34.4 -73.2 -7.8 -9.3 -3.1 -16.4 -41.8 -19.6 16

17 Inventories (3) 4.4 2.9 1.1 -10.6 8.8 6.4 1.4 3.3 11.1 24.4 21.9 17

18 Direct investment abroad 2.8 7.7 -15.0 -13.2 -24.2 0 0 0 -35.2 0 0 18

19 - Foreign direct investment in U.S. -4.7 -14.5 -49.0 -88.6 -120.9 0.0 -0.0 0.0 -11.8 0.0 0.0 19

20 Other factors (4) 105.5 166.2 293.4 355.8 249.0 22.1 112.6 37.0 134.8 23.1 2.7 20

 Memo:

21 Net worth outstanding (market value) 5728.4 6348.3 7060.5 7684.3 8399.5 8524.8 8698.3 8648.3 8753.5 8732.2 8762.4 21

 With tangible assets valued at historical cost:

22 Change in net worth (5) 365.5 425.5 410.0 484.8 515.1 126.5 124.1 103.2 84.0 48.8 95.2 22

23 Net investment flow 210.7 155.7 24.2 -13.9 148.5 67.9 30.7 41.2 -17.8 8.3 41.6 23

24 Net physical investment 236.3 220.3 271.7 303.5 379.1 100.3 108.0 107.8 95.5 78.6 67.1 24

25 Capital expenditures 660.4 687.7 778.6 845.1 934.4 241.2 253.0 257.6 250.3 236.6 224.7 25

26 - Consumption of fixed capital 434.3 459.5 489.7 519.2 556.5 145.9 149.0 152.4 155.1 158.1 162.3 26

27 - Inventory valuation adjustment -18.3 3.1 8.5 18.4 -2.9 -5.0 -4.2 -2.7 -0.4 -0.2 -4.7 27

28 - Access rights from fed. government 8.1 4.8 8.8 4.1 1.7 0 0.3 0.2 0.1 0.1 0.1 28

29 Net financial investment 32.7 4.8 -133.1 -50.4 -87.1 -47.7 -16.0 -44.7 -14.6 -61.8 -16.6 29

30 Net acquisition of financial assets 423.6 403.3 150.3 570.6 638.4 189.4 180.6 126.6 79.4 26.3 57.3 30

31 - Net increase in liabilities 390.8 398.5 283.5 621.0 725.5 237.0 196.6 171.3 94.0 88.2 73.9 31

32 Corporate equity issues -58.3 -69.5 -114.4 -267.0 -143.5 15.3 -61.3 -21.9 -98.7 -8.5 -8.8 32

 Valuation adjustment on

33 reproducible assets (6) -37.0 5.1 -23.6 -11.0 -80.2 14.4 -32.9 4.5 -19.2 7.4 20.2 33

34 Holding gains on mutual fund shares (2) 10.0 10.9 17.5 14.6 24.8 4.0 -5.6 -0.0 -11.7 -12.4 6.2 34

 Holding gains on assets stated

 at current cost less holding

 gains on liabilities stated

35 at current cost (2) 7.4 22.2 34.0 75.4 96.7 -0.0 0.0 -0.0 -23.4 -0.0 -0.0 35

36 Direct investment abroad 2.8 7.7 -15.0 -13.2 -24.2 0 0 0 -35.2 0 0 36

37 - Foreign direct investment in U.S. -4.7 -14.5 -49.0 -88.6 -120.9 0.0 -0.0 0.0 -11.8 0.0 0.0 37

38 Other factors (4) 174.4 231.6 358.0 419.8 325.4 40.2 131.9 57.6 156.1 45.5 27.2 38

 Memo:

39 Net worth outstanding (historical cost) 3931.1 4356.6 4766.6 5251.5 5766.6 5893.1 6017.2 6120.4 6204.4 6253.2 6348.4 39

(1) Sum of net investment flow (line 2), holding gains (lines 12 and 15), and other factors (line 20).

(2) Calculated as change in amount outstanding during period less net purchases during period.

(3) Before inventory valuation adjustment.

(4) Consists of estimates of land purchases and statistical discontinuities.

(5) Sum of net investment flow (line 23), valuation adjustment on reproducible assets (line 33), holding gains (lines 34 and 35), and other factors (line 38).

(6) Effect of different treatment of certain items in BEA capital accounts from the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers

 of assets.
106 Z.1, September 18, 2001

F.100.a Nonprofit Organizations (1)

Billions of dollars

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998

 

 1 Net financial investment 49.7 37.5 22.2 14.0 25.8 14.3 49.0 47.8 86.2 9.3 6.0 1

 2 Net acquisition of financial assets 67.1 71.1 54.3 51.6 55.5 48.5 73.0 84.3 122.5 47.5 59.5 2

 3 Checkable deposits and currency 0.5 -1.0 1.3 4.0 1.2 1.7 -2.5 2.3 8.3 2.9 3.1 3

 4 Time and savings deposits -0.2 5.4 -6.2 10.4 -2.4 -1.5 0.2 0.2 1.1 0.3 1.1 4

 5 Money market fund shares -13.1 4.9 -1.2 32.9 4.0 -13.8 1.1 1.2 9.4 -1.8 7.1 5

 6 Security RPs (2) 0.4 3.1 -2.2 -1.3 6.0 0.5 0.2 0.2 1.4 0.0 1.3 6

 7 Credit market instruments 51.1 17.2 22.7 -12.3 13.4 28.8 13.1 38.1 39.3 23.3 40.9 7

 8 Open market paper 34.4 -10.4 6.2 -29.9 -3.3 15.6 1.2 1.3 6.7 1.5 7.5 8

 9 U.S. government securities 10.9 16.4 9.4 9.7 10.0 7.4 9.3 23.9 20.3 13.0 17.0 9

10 Municipal securities 0.0 0.5 -0.5 0.0 0.2 0.3 0.4 0.1 0.0 -0.1 0.1 10

11 Corporate and foreign bonds 6.6 9.7 8.2 7.9 5.6 4.5 2.4 11.9 11.7 8.3 15.4 11

12 Mortgages -0.8 0.9 -0.7 -0.1 0.9 0.9 -0.1 0.9 0.6 0.6 0.9 12

13 Corporate equities 5.2 16.1 15.0 -18.6 18.6 8.9 45.1 -10.4 21.0 -30.6 -40.7 13

14 Mutual fund shares -1.0 2.6 1.2 -3.3 0.7 -0.7 1.5 1.3 2.4 -1.0 0.4 14

15 Security credit 2.8 2.8 2.6 2.0 1.1 0.8 2.0 1.5 3.4 3.7 4.6 15

16 Trade receivables (2) 2.8 2.8 2.6 2.0 1.1 1.8 2.1 1.6 3.5 2.6 4.6 16

17 Equity in noncorporate business -0.1 -3.9 -6.0 15.2 10.6 7.0 0.2 10.2 8.4 9.7 12.5 17

18 Miscellaneous assets (2) 18.6 21.0 24.5 20.5 1.2 15.0 10.1 38.0 24.4 38.3 24.7 18

19 Net increase in liabilities 17.3 33.6 32.1 37.6 29.7 34.1 24.0 36.4 36.3 38.2 53.5 19

20 Credit market instruments 7.8 12.0 12.2 14.5 9.6 14.2 2.8 -0.1 11.5 13.4 23.6 20

21 Municipal securities 1.8 3.5 3.3 4.0 2.0 1.4 3.6 0.7 6.6 10.0 12.0 21

22 Bank loans n.e.c. 0.2 -5.2 -1.1 -2.8 2.4 5.0 6.4 8.9 0.2 4.9 2.4 22

23 Other loans and advances -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 -0.1 0.0 -0.2 -0.1 23

24 Commercial mortgages 5.8 13.8 9.7 12.9 5.4 7.7 -7.4 -9.6 4.7 -1.2 9.4 24

25 Trade payables 2.4 16.2 9.3 9.4 5.9 6.0 5.2 7.9 8.0 8.9 8.7 25

26 Miscellaneous liabilities (2) 7.1 5.5 10.5 13.7 14.2 14.0 16.0 28.6 16.8 15.8 21.2 26

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table F.100.
Z.1, September 18, 2001 107

L.100.a Nonprofit Organizations (1)

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

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998

 

 1 Total financial assets 564.4 679.6 711.7 802.8 867.4 937.6 1002.5 1190.3 1392.9 1586.3 1777.4 1

 2 Checkable deposits and currency 17.0 15.9 17.3 21.3 22.5 24.1 21.6 23.9 32.1 35.0 38.1 2

 3 Time and savings deposits 1.5 6.8 0.6 11.1 8.7 7.1 7.3 7.5 8.6 8.9 10.0 3

 4 Money market fund shares 15.9 20.8 19.6 52.5 56.5 42.7 43.8 45.1 54.5 52.7 59.8 4

 5 Security RPs (2) 1.7 4.8 2.5 1.3 7.3 7.8 8.0 8.2 9.6 9.6 10.9 5

 6 Credit market instruments 203.1 220.3 242.9 230.6 244.0 272.8 285.9 324.0 363.3 386.6 427.5 6

 7 Open market paper 67.3 56.9 63.2 33.3 29.9 45.5 46.7 48.0 54.7 56.1 63.7 7

 8 U.S. government securities 82.0 98.4 107.8 117.4 127.4 134.8 144.1 168.0 188.3 201.3 218.2 8

 9 Municipal securities 0.1 0.6 0.1 0.2 0.4 0.8 1.1 1.2 1.3 1.2 1.3 9

10 Corporate and foreign bonds 51.1 60.8 69.0 77.0 82.6 87.1 89.5 101.4 113.1 121.4 136.8 10

11 Mortgages 2.6 3.5 2.8 2.8 3.7 4.6 4.5 5.3 6.0 6.6 7.4 11

12 Corporate equities 145.8 203.0 197.5 214.6 241.1 270.2 308.2 397.1 494.7 604.9 692.0 12

13 Mutual fund shares 10.2 15.8 15.3 15.9 17.7 18.5 19.0 24.6 30.4 34.5 38.7 13

14 Security credit 25.7 28.5 31.1 33.1 34.3 35.0 37.1 38.6 42.0 45.8 50.3 14

15 Trade receivables (2) 25.7 28.5 31.1 33.1 34.3 36.1 38.1 39.7 43.2 45.8 50.3 15

16 Equity in noncorporate business 26.1 22.2 16.2 31.4 42.0 49.0 49.2 59.4 67.8 77.5 90.0 16

17 Miscellaneous assets (2) 92.0 112.9 137.4 158.0 159.2 174.2 184.3 222.2 246.7 285.0 309.7 17

18 Liabilities 253.8 287.5 319.5 357.1 386.8 421.0 444.9 481.4 517.7 555.8 609.3 18

19 Credit market instruments 154.7 166.7 178.9 193.4 203.0 217.1 219.9 219.8 231.4 244.8 268.4 19

20 Municipal securities 79.9 83.3 86.6 90.6 92.6 94.0 97.6 98.3 104.9 114.9 126.9 20

21 Bank loans n.e.c. 15.5 10.3 9.2 6.4 8.8 13.8 19.9 28.8 29.0 34.1 36.5 21

22 Other loans and advances 0.3 0.3 0.5 0.9 0.7 0.8 0.9 0.8 0.9 0.7 0.6 22

23 Commercial mortgages 59.0 72.8 82.5 95.5 100.9 108.5 101.5 91.9 96.6 95.1 104.4 23

24 Trade payables 41.3 57.4 66.8 76.2 82.1 88.1 93.2 101.1 109.1 118.0 126.8 24

25 Miscellaneous liabilities (2) 57.9 63.3 73.9 87.6 101.8 115.8 131.8 160.4 177.2 193.0 214.2 25

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table L.100.
108 Z.1, September 18, 2001

F.106.c Consolidated Statement for Federal, State, and Local Governments (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Current receipts, NIPA basis 2269.1 2440.0 2613.8 2786.1 3023.9 2960.3 3013.6 3047.7 3073.9 3096.8 3105.7 1

 2 Personal tax and nontax receipts 869.7 968.8 1070.5 1159.3 1288.2 1245.3 1277.3 1300.2 1329.8 1345.2 1351.0 2

 3 Corporate profit tax accruals 223.7 237.2 238.9 253.0 271.5 277.0 280.4 274.9 253.5 236.8 231.0 3

 4 Indirect business tax and nontax accruals 620.0 646.2 681.3 713.1 762.7 749.4 758.3 767.6 775.6 785.7 791.0 4

 5 Contributions for social insurance 555.8 587.8 623.3 660.8 701.6 688.6 697.6 705.0 715.0 729.1 732.7 5

 6 Current expenditures, NIPA basis 2384.6 2462.4 2529.3 2624.8 2772.5 2714.2 2770.0 2783.0 2822.8 2869.2 2895.0 6

 7 Consumption expenditures 1171.8 1223.3 1261.4 1327.9 1422.8 1390.6 1426.1 1430.2 1444.1 1474.2 1491.0 7

 8 Transfer payments (net) 916.0 945.0 965.9 1000.1 1050.0 1022.6 1043.4 1053.2 1080.7 1094.6 1110.8 8

 9 Net interest paid 274.5 275.3 278.8 263.8 262.6 263.9 264.0 262.7 259.7 253.0 241.3 9

10 - Dividends received by government 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 10

11 Subsidies less current surplus of govt. enterprises 22.6 19.1 23.6 33.3 37.6 37.5 36.9 37.3 38.7 47.8 52.3 11

12 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Current surplus or deficit (-), NIPA basis -115.5 -22.4 84.6 161.4 251.4 246.1 243.6 264.7 251.1 227.6 210.7 13

14 + Consumption of fixed capital 174.3 181.0 187.7 198.1 211.4 206.5 209.9 213.1 215.9 218.6 221.4 14

15 - Insurance and pension fund reserves (2) 3.4 3.4 4.4 3.8 1.8 0.3 2.7 0.8 3.3 2.8 6.9 15

16 + Net capital transfers (3) 23.1 26.8 32.4 32.4 36.2 37.0 36.2 35.8 35.8 38.4 37.1 16

17 = Gross saving and net capital transfers 78.5 182.0 300.2 388.0 497.2 489.3 487.0 512.8 499.6 481.8 462.2 17

18 Gross investment 31.9 127.7 328.5 418.1 530.6 375.2 658.7 503.7 584.8 225.9 473.5 18

19 Fixed investment 250.2 264.7 277.1 304.6 318.3 321.1 315.0 314.1 322.8 330.9 346.2 19

20 Access rights sales -4.8 -8.8 -4.1 -1.7 -0.6 0.0 -1.2 -0.7 -0.5 -0.3 -0.3 20

21 Net financial investment -213.4 -128.2 55.5 115.2 212.9 54.1 344.9 190.3 262.5 -104.7 127.6 21

22 Net acquisition of financial assets 41.3 34.7 110.4 166.6 27.1 -40.9 36.8 106.7 5.9 169.5 126.4 22

23 Gold, SDRs, and official foreign exchange -2.9 2.5 6.0 -7.1 -0.6 1.9 -8.3 -1.5 5.3 -1.2 5.0 23

24 Checkable deposits and currency 5.4 3.8 -20.6 70.0 -64.0 -146.2 -65.6 10.2 -54.7 42.4 -26.3 24

25 Time and savings deposits 12.0 6.8 14.1 11.6 10.4 -18.1 21.3 9.1 29.2 -3.2 4.1 25

26 Security RPs 32.1 3.6 7.2 5.0 9.7 51.3 -9.4 12.0 -15.0 19.0 17.2 26

27 Credit market instruments -8.5 24.1 116.8 52.0 48.2 46.9 64.5 35.2 46.4 54.2 25.8 27

28 Open market paper 20.3 14.3 28.0 1.9 7.6 6.9 17.5 -4.0 10.0 4.0 -17.2 28

29 U.S. government agency securities (4) -35.3 -0.8 63.6 28.5 23.5 23.1 26.9 24.0 20.0 27.8 22.7 29

30 Municipal securities -0.5 -0.7 -1.4 -1.5 0.6 -1.7 1.6 3.2 -0.8 2.1 -0.6 30

31 Corporate and foreign bonds 10.7 1.3 10.2 12.6 3.7 6.1 4.7 1.6 2.4 11.5 7.2 31

32 Mortgages -3.4 -0.9 3.3 4.2 3.7 0.7 4.6 3.2 6.1 2.3 4.1 32

33 Other loans and advances (5) -0.3 10.9 13.2 6.2 9.2 11.9 9.2 7.1 8.7 6.6 9.6 33

34 Corporate equities 14.5 16.8 9.4 3.5 -1.2 -5.6 10.7 -4.1 -5.6 16.9 21.0 34

35 Mutual fund shares 6.0 -7.4 -12.3 4.3 0.8 -10.7 5.6 4.5 4.0 9.4 7.9 35

36 Trade receivables 0.9 -3.2 1.5 4.6 5.3 6.0 7.2 4.3 3.7 9.9 1.9 36

37 Taxes receivable -3.5 -5.7 1.6 15.8 7.6 21.5 21.7 5.9 -18.6 -1.1 29.0 37

38 Miscellaneous assets -14.8 -6.6 -13.3 6.8 10.9 12.1 -10.8 31.2 11.1 23.1 40.7 38

39 Net increase in liabilities 254.7 162.9 55.0 51.3 -185.8 -94.9 -308.1 -83.6 -256.6 274.1 -1.2 39

40 SDR certificates -0.5 -0.5 0.0 -3.0 -4.0 0.0 -8.0 -4.0 -4.0 0.0 0.0 40

41 Treasury currency 0.5 0.5 0.6 1.0 2.4 2.2 3.2 4.2 -0.0 -1.1 1.1 41

42 Credit market instruments 170.6 98.1 -3.5 -16.0 -237.0 -165.2 -373.7 -155.4 -253.9 143.9 -64.8 42

43 Savings bonds 2.0 -0.5 0.1 -0.2 -1.7 -3.5 -2.1 -0.9 -0.3 1.4 5.3 43

44 Other Treasury securities (6) 177.4 41.4 -84.7 -68.3 -262.6 -174.2 -393.3 -177.1 -305.8 45.0 -180.9 44

45 Budget agency securities -1.6 -0.1 2.0 -0.2 -1.0 -2.1 1.8 -2.4 -1.2 -2.2 1.1 45

46 Municipal securities -7.2 57.3 79.1 52.7 28.2 14.5 19.8 25.1 53.4 99.7 109.7 46

47 Multifamily residential mortgages -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 Trade payables 31.6 22.6 22.5 29.7 28.5 36.5 23.1 27.5 27.1 12.5 11.6 48

49 Insurance and pension reserves (7) 55.7 42.0 42.5 42.5 22.3 39.3 41.9 36.3 -28.1 118.1 46.9 49

50 Miscellaneous liabilities -3.3 0.3 -7.1 -2.9 2.0 -7.6 5.4 7.9 2.3 0.6 4.1 50

51 Discrepancy 46.6 54.3 -28.3 -30.1 -33.4 114.1 -171.7 9.1 -85.2 255.8 -11.3 51

 Memo:

52 Current surplus less fixed investment (8) -365.6 -287.1 -192.6 -143.3 -66.9 -75.0 -71.4 -49.4 -71.7 -103.3 -135.5 52

53 Adjustment between NIPA and FOF (9) 152.2 158.9 248.0 258.5 279.8 129.1 416.3 239.7 334.2 -1.4 263.1 53

54 Items to be financed (10) -213.4 -128.2 55.5 115.2 212.9 54.1 344.9 190.3 262.5 -104.7 127.6 54

(1) This table is consistent with NIPA table 3.1 in the Survey of Current Business, Department of Commerce.

(2) Railroad Retirement Board and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector. Includes value of Treasury and

 agency securities held by state and local government employee retirement funds.

(3) Table F.9, line 1.

(4) Holdings by state and local governments may include small amounts of agency securities issued by the federal government.

(5) Excludes loans to state and local governments.

(6) Excludes Treasury securities owed to state and local governments.

(7) Line 15 plus civil service retirement and disability fund, judicial retirement fund, military retirement fund, and foreign service retirement and disability fund.

(8) Line 13 less line 19

(9) Line 14 plus line 16 less sum of lines 15, 20, and 51.

(10) Line 52 plus line 53.
Z.1, September 18, 2001 109

L.106.c Consolidated Statement for Federal, State, and Local Governments

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

1996 1997 1998 1999 2000 2000 2001

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 1181.5 1223.0 1343.8 1548.7 1582.9 1549.6 1565.0 1593.6 1582.9 1642.0 1670.0 1

 2 Gold, SDRs, and official foreign exchange 44.9 42.0 51.0 44.5 40.9 44.0 41.5 39.7 40.9 39.2 38.0 2

 3 Checkable deposits and currency 66.1 73.8 51.5 120.1 57.8 75.7 87.2 81.4 57.8 60.4 83.6 3

 4 Time and savings deposits 74.9 81.8 95.8 107.5 117.8 104.4 106.5 109.7 117.8 118.3 116.1 4

 5 Security RPs 147.8 151.4 158.5 163.5 173.3 176.4 174.0 177.0 173.3 178.0 182.3 5

 6 Credit market instruments 537.9 562.2 679.1 764.3 812.6 776.0 792.1 800.9 812.6 826.2 832.6 6

 7 Open market paper 59.7 74.0 102.0 103.9 111.5 105.6 110.0 109.0 111.5 112.5 108.2 7

 8 Agency securities (1) 116.2 115.4 179.0 207.5 231.0 213.3 220.0 226.0 231.0 237.9 243.6 8

 9 Municipal securities 4.6 3.9 2.5 1.0 1.6 0.6 1.0 1.8 1.6 2.1 2.0 9

10 Corporate and foreign bonds 49.7 51.0 61.2 73.8 77.5 75.3 76.5 76.9 77.5 80.4 82.2 10

11 Mortgages 167.9 167.0 170.3 207.5 211.2 207.7 208.8 209.6 211.2 211.7 212.8 11

12 Other loans and advances (2) 139.8 150.8 164.1 170.5 179.9 173.5 175.8 177.6 179.9 181.5 183.9 12

13 Corporate equities 46.8 79.0 102.0 115.0 115.1 113.2 115.0 117.6 115.1 108.6 118.6 13

14 Mutual fund shares 41.0 33.6 21.3 25.6 26.4 22.9 24.3 25.4 26.4 28.8 30.7 14

15 Trade receivables 24.0 20.8 22.3 22.9 28.1 25.4 26.9 27.7 28.1 31.7 31.9 15

16 Taxes receivable 46.8 46.9 49.5 72.0 87.9 91.4 77.0 90.4 87.9 111.5 90.7 16

17 Miscellaneous assets 151.2 131.8 112.7 113.5 123.0 120.2 120.7 123.9 123.0 139.3 145.6 17

18 Total liabilities 5805.1 5967.1 6029.3 6083.4 5895.4 6070.5 5907.1 5886.9 5895.4 5970.4 5877.4 18

19 SDR certificates 9.7 9.2 9.2 6.2 2.2 6.2 4.2 3.2 2.2 2.2 2.2 19

20 Treasury currency 18.9 19.3 19.9 20.9 23.2 21.4 22.1 23.2 23.2 22.9 23.2 20

21 Credit market instruments 4578.0 4676.1 4672.6 4656.6 4419.6 4644.2 4464.4 4422.8 4419.6 4482.6 4373.3 21

22 Savings bonds 187.0 186.5 186.6 186.4 184.8 185.3 184.6 184.3 184.8 184.8 186.0 22

23 Other Treasury securities (3) 3311.1 3352.5 3267.8 3199.5 2936.9 3183.3 2994.8 2956.3 2936.9 2973.3 2831.9 23

24 Budget agency securities 26.6 26.5 28.5 28.3 27.3 27.8 28.2 27.6 27.3 26.8 27.0 24

25 Municipal securities 1053.3 1110.6 1189.7 1242.4 1270.6 1247.9 1256.7 1254.5 1270.6 1297.7 1328.4 25

26 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Trade payables 599.3 621.9 644.4 674.1 702.7 683.9 690.7 697.9 702.7 706.4 710.4 27

28 Insurance and pension reserves 591.9 634.0 676.5 719.0 741.3 708.2 719.2 733.3 741.3 749.8 762.1 28

29 Miscellaneous liabilities 7.3 6.6 6.7 6.6 6.4 6.6 6.5 6.6 6.4 6.5 6.4 29

(1) Holdings by state and local governments may include small amounts of agency securities issued by the federal government.

(2) Excludes loans to state and local governments.

(3) Excludes Treasury securities owed to state and local governments.
110 Z.1, September 18, 2001

F.119.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Net acquisition of financial assets 22.3 23.9 -3.2 27.5 11.8 47.8 45.2 -27.2 -40.6 -47.0 -32.4 -23.9 -36.0 1

 2 Checkable deposits and currency 1.9 -1.0 -0.5 -0.1 0.0 -0.0 0.8 0.3 0.2 0.4 0.1 0.5 0.3 2

 3 Time and savings deposits -3.5 9.6 -5.5 5.5 -9.1 6.4 13.1 4.8 10.8 13.3 0.9 4.3 3.4 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 1.6 0.3 -1.7 1.8 -1.1 -0.0 -4.2 -0.2 3.2 0.3 -0.3 1.2 1.3 5

 6 Credit market instruments 28.3 41.6 32.0 12.8 17.1 22.9 35.6 24.1 -8.9 39.7 43.4 39.2 18.8 6

 7 Open market paper -3.9 -2.5 -1.7 1.8 -1.1 -0.0 -4.2 -0.2 3.2 0.3 -0.3 1.2 1.3 7

 8 U.S. government securities 15.2 29.7 21.1 3.9 0.4 10.4 40.8 6.7 -15.4 12.3 28.7 24.5 15.0 8

 9 Treasury 1.7 7.9 0.6 -8.9 -11.0 -5.6 10.1 2.0 -4.6 3.7 -1.8 -0.1 0.2 9

10 Agency 13.5 21.8 20.5 12.8 11.5 15.9 30.7 4.7 -10.8 8.6 30.5 24.6 14.8 10

11 Corporate and foreign bonds 11.2 8.8 11.2 13.8 20.8 14.0 2.7 17.4 3.1 26.5 13.9 12.6 2.1 11

12 Mortgages 5.9 5.6 1.5 -6.8 -3.1 -1.4 -3.7 0.2 0.1 0.6 1.1 0.9 0.4 12

13 Corporate equities -0.4 -22.4 0.2 2.0 8.7 6.8 -3.8 -51.1 -55.3 -100.9 -78.8 -77.0 -67.0 13

14 Mutual fund shares -0.6 0.0 0.4 1.4 2.3 4.4 3.7 1.9 -2.2 1.3 1.8 2.4 -0.3 14

15 Miscellaneous assets -5.1 -4.2 -28.0 4.1 -6.1 7.3 0.1 -6.9 11.7 -1.2 0.6 5.5 7.6 15

16 Unallocated insurance contracts (1) -15.2 -1.9 -6.2 -2.2 -5.0 -0.6 -5.1 -6.0 2.3 -5.6 1.6 1.9 2.4 16

17 Contributions receivable -0.3 4.4 2.8 8.2 5.6 7.4 6.2 -0.3 -0.3 3.5 0.0 0.0 0.0 17

18 Other 10.4 -6.8 -24.6 -1.9 -6.7 0.6 -1.0 -0.6 9.7 0.9 -1.0 3.6 5.2 18

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.119.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 46.7 38.7 32.2 66.3 56.6 56.2 45.8 59.4 45.2 35.7 44.1 35.5 54.6 1

 2 Checkable deposits and currency 0.9 0.6 -0.3 -0.3 -0.1 0.2 0.1 0.4 0.4 0.8 0.1 0.7 0.4 2

 3 Time and savings deposits 14.4 17.9 1.3 0.1 -8.0 -9.9 -6.3 -0.2 -5.5 -5.8 0.5 -8.3 -1.5 3

 4 Money market fund shares 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 6.0 10.8 13.1 1.9 11.7 5.9 4

 5 Security RPs 0.6 1.8 0.4 1.9 1.3 0.9 -2.0 0.2 1.3 0.6 1.3 -0.8 -0.4 5

 6 Credit market instruments -4.7 12.2 14.1 15.2 11.9 16.3 7.8 -4.2 4.8 7.9 13.0 5.7 22.5 6

 7 Open market paper -2.2 1.8 1.3 1.4 0.9 0.7 -2.0 0.7 2.4 0.9 3.2 2.5 -3.1 7

 8 U.S. government securities 0.5 6.0 3.9 6.2 4.3 2.0 20.3 -1.5 2.1 -0.5 5.8 5.5 11.8 8

 9 Treasury -0.3 4.0 1.8 6.1 5.2 3.8 10.2 0.6 1.9 0.4 -2.6 -0.5 -1.0 9

10 Agency 0.9 2.0 2.1 0.0 -0.9 -1.8 10.2 -2.0 0.2 -0.9 8.4 6.0 12.9 10

11 Corporate and foreign bonds -5.7 3.4 8.7 7.6 7.3 13.8 -9.1 -3.9 -0.2 7.4 3.2 -3.3 12.4 11

12 Mortgages 2.6 1.0 0.1 0.1 -0.6 -0.2 -1.4 0.5 0.5 0.1 0.8 1.0 1.3 12

13 Corporate equities 7.2 -11.5 0.7 11.3 28.8 15.1 5.8 -18.4 -16.2 -36.9 -34.2 -15.2 -13.8 13

14 Mutual fund shares 0.1 5.1 6.2 9.8 13.0 22.4 20.1 43.1 25.3 41.4 30.0 28.3 32.7 14

15 Miscellaneous assets 26.2 9.7 9.9 27.3 8.8 4.6 15.0 32.6 24.2 14.7 31.4 13.4 8.8 15

16 Unallocated insurance contracts (2) 17.0 14.2 15.9 23.0 10.6 12.9 8.9 23.7 12.2 4.6 19.8 11.6 6.7 16

17 Contributions receivable -0.9 2.8 3.2 3.9 4.4 4.9 5.5 4.4 4.3 3.6 1.9 1.0 1.0 17

18 Other 10.1 -7.3 -9.2 0.4 -6.2 -13.2 0.6 4.5 7.7 6.5 9.7 0.9 1.1 18

(1) Includes 401(k) type plans and the Federal Employees Retirement System Thrift Savings Plan.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.225.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: 50.4 56.9 89.6 67.4 58.5 49.1 53.0 58.5 52.8 68.5 91.7 112.5 117.0 1

 2 Commercial banking 11.1 15.6 21.6 16.6 -0.5 -2.9 -1.1 6.5 0.7 0.1 -0.5 -3.4 8.9 2

 3 Saving institutions 12.0 7.3 -2.6 -3.8 -8.3 -9.1 -6.3 -1.9 -3.9 -6.0 -5.3 -3.0 -2.3 3

 4 Credit unions 1.5 1.9 3.2 3.6 0.9 -0.3 -0.0 1.2 0.9 1.2 0.3 0.9 0.4 4

 5 Life insurance companies 8.0 -1.3 4.4 7.1 4.9 12.6 13.2 11.2 10.3 47.5 24.6 41.4 10.1 5

 6 Money market mutual funds 5.0 9.0 13.0 -1.0 3.0 6.0 13.0 14.0 15.0 2.0 24.0 22.0 1.0 6

 7 Mutual funds 8.0 10.6 10.4 41.7 38.9 59.4 13.5 64.1 49.8 80.3 84.8 81.9 67.3 7

 8 Other self-directed accounts 4.7 13.9 39.6 3.2 19.5 -16.6 20.9 -36.5 -20.0 -56.5 -36.2 -27.3 31.4 8

(1) Assets of the household sector (F.100). IRA assets are not included in pension fund reserves (table F.225), except for those at life insurance companies. Figures for depositories (lines 2 through 4)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7).
Z.1, September 18, 2001 111

L.119.b Private Pension Funds: Defined Benefit Plans

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

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Total financial assets 812.8 921.5 899.9 1051.7 1079.9 1195.1 1276.0 1460.5 1579.0 1746.8 1900.8 2143.0 2061.6 1

 2 Checkable deposits and currency 2.5 1.6 1.0 1.0 1.0 1.0 1.8 2.1 2.2 2.6 2.7 3.2 3.5 2

 3 Time and savings deposits 47.3 56.9 51.3 56.8 47.6 54.1 67.1 71.9 82.7 96.0 97.0 101.2 104.7 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 16.5 16.8 15.0 16.9 15.8 15.8 11.6 11.4 14.6 14.9 14.6 15.8 17.1 5

 6 Credit market instruments 276.4 318.0 349.9 362.7 379.8 402.7 438.3 462.4 453.5 493.1 536.5 575.8 594.6 6

 7 Open market paper 19.2 16.8 15.0 16.9 15.8 15.8 11.6 11.4 14.6 14.9 14.6 15.8 17.1 7

 8 U.S. government securities 154.3 184.0 205.1 209.0 209.4 219.8 260.6 267.3 252.0 264.2 293.0 317.5 332.6 8

 9 Treasury 85.1 93.0 93.6 84.7 73.7 68.1 78.2 80.2 75.6 79.3 77.5 77.4 77.6 9

10 Agency 69.2 91.0 111.5 124.3 135.8 151.7 182.4 187.1 176.4 185.0 215.5 240.1 254.9 10

11 Corporate and foreign bonds 90.2 99.0 110.1 123.9 144.7 158.7 161.4 178.8 181.9 208.4 222.3 234.9 237.0 11

12 Mortgages 12.6 18.2 19.7 13.0 9.9 8.5 4.7 4.9 5.0 5.6 6.7 7.6 8.0 12

13 Corporate equities 300.6 358.9 341.4 458.6 484.5 555.6 559.9 699.6 785.8 876.0 960.9 1114.0 1008.6 13

14 Mutual fund shares 6.5 6.8 6.8 11.4 15.6 22.3 39.0 54.8 63.8 81.4 99.4 126.9 121.8 14

15 Miscellaneous assets 163.0 162.7 134.3 144.3 135.5 143.5 158.2 158.3 176.4 182.6 189.7 206.0 211.3 15

16 Unallocated insurance contracts (1) 78.2 80.1 73.6 77.3 69.6 69.7 79.2 80.3 88.9 90.7 98.8 111.4 111.6 16

17 Contributions receivable 9.7 14.1 16.9 25.1 30.7 38.0 44.2 43.9 43.6 47.1 47.1 47.2 47.2 17

18 Other 75.2 68.4 43.8 41.9 35.2 35.8 34.8 34.2 43.9 44.8 43.8 47.4 52.6 18

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.119.c Private Pension Funds: Defined Contribution Plans (1)

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

 1 Total financial assets 594.7 712.8 734.6 888.0 971.5 1108.4 1183.8 1462.9 1672.1 1999.8 2303.7 2531.0 2525.7 1

 2 Checkable deposits and currency 2.0 2.6 2.3 2.0 2.0 2.2 2.3 2.7 3.1 4.0 4.1 4.8 5.2 2

 3 Time and savings deposits 39.9 57.8 59.1 59.2 51.1 41.3 35.0 34.7 29.3 23.4 24.0 15.6 14.2 3

 4 Money market fund shares 14.8 17.8 17.8 18.8 19.8 26.3 31.6 37.5 48.4 61.4 63.4 75.1 81.0 4

 5 Security RPs 6.2 8.1 8.5 10.4 11.6 12.6 10.6 10.7 12.1 12.7 14.0 13.1 12.7 5

 6 Credit market instruments 95.5 107.6 121.7 136.9 148.8 165.2 173.0 168.8 173.6 181.5 194.4 200.2 222.6 6

 7 Open market paper 8.2 10.0 11.3 12.7 13.6 14.3 12.3 13.0 15.4 16.3 19.5 22.0 18.9 7

 8 U.S. government securities 47.8 53.8 57.7 63.9 68.2 70.2 90.5 89.0 91.1 90.7 96.5 102.0 113.8 8

 9 Treasury 30.3 34.3 36.1 42.2 47.5 51.2 61.4 62.0 63.8 64.3 61.7 61.1 60.1 9

10 Agency 17.5 19.5 21.6 21.7 20.7 18.9 29.1 27.1 27.3 26.4 34.8 40.8 53.7 10

11 Corporate and foreign bonds 35.4 38.8 47.5 55.1 62.4 76.2 67.1 63.2 63.0 70.4 73.5 70.3 82.7 11

12 Mortgages 4.0 5.1 5.2 5.3 4.7 4.5 3.1 3.6 4.0 4.1 4.9 5.9 7.2 12

13 Corporate equities 214.6 276.6 264.8 348.6 391.5 463.0 459.9 589.6 678.1 820.4 941.3 1042.9 992.5 13

14 Mutual fund shares 16.9 26.2 33.7 55.0 80.6 119.9 166.9 272.0 348.5 488.2 609.9 703.1 715.9 14

15 Miscellaneous assets 204.8 216.1 226.8 257.1 266.1 278.0 304.7 346.8 379.1 408.3 452.6 476.2 481.6 15

16 Unallocated insurance contracts (2) 108.7 124.6 141.2 167.2 178.0 198.2 218.7 252.0 272.2 291.3 324.0 345.7 349.1 16

17 Contributions receivable 9.3 12.2 15.4 19.3 23.7 28.6 34.1 38.5 42.8 46.4 48.3 49.3 50.3 17

18 Other 86.7 79.4 70.2 70.6 64.4 51.3 51.9 56.4 64.1 70.6 80.3 81.2 82.2 18

(1) Includes 401(k) type plans and the Federal Employees Retirement System Thrift Savings Plan.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.225.i Individual Retirement Accounts (IRAs) (1)

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

 1 Total held at: 452.0 546.0 637.0 776.0 873.0 993.0 1056.0 1288.0 1467.0 1728.0 2150.0 2663.0 2650.0 1

 2 Commercial banking 95.4 111.0 132.6 149.2 148.6 145.8 144.7 151.1 151.9 152.0 151.4 148.0 156.9 2

 3 Saving institutions 101.6 108.9 106.3 102.5 94.2 85.1 78.9 76.9 73.0 67.0 61.8 58.7 56.5 3

 4 Credit unions 22.4 24.3 27.5 31.1 32.1 31.8 31.8 33.0 33.8 35.0 35.3 36.2 36.7 4

 5 Life insurance companies 38.9 37.9 42.0 49.7 55.6 69.5 78.7 94.3 110.3 160.0 190.1 245.5 245.8 5

 6 Money market mutual funds 19.0 28.0 41.0 40.0 43.0 49.0 62.0 76.0 91.0 93.0 117.0 139.0 140.0 6

 7 Mutual funds 73.4 93.0 97.9 144.0 189.0 265.7 279.4 386.6 489.0 649.0 809.0 1060.0 1048.0 7

 8 Other self-directed accounts 101.3 143.0 189.7 259.5 310.5 346.1 380.6 470.1 517.9 572.0 785.4 975.6 966.1 8

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension fund reserves (table L.225), except for those at life insurance companies. Figures for depositories

 (lines 2 through 4) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7).
Z.1, September 18, 2001 Flow of Funds Matrix for 2000

(Billions of dollars; All Sectors -- Flows)

Households State Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Rest of Financial 

Organizations Business Governments Government Sectors the World Sectors 

 U S U S USU S U S US U S 

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

 1 Gross saving and net cap. transfers -- 1012.7 -- 966.9 -- 191.9 -- 305.2 -- 2476.7 -- 429.8 -- 129.2  2 Capital consumption -- 730.0 -- 773.2 -- 114.9 -- 96.4 -- 1714.5 -- -- -- 97.6  3 Net saving (1 less 2) -- 318.2 -- 193.7 -- 77.0 -- 208.8 -- 797.7 -- 429.8 -- 31.7  4 Gross investment (5 plus 11) 1006.7 -- 1051.7 -- 220.5 -- 310.1 -- 2589.0 -- 444.0 -- 51.2 --  5 Capital expenditures 1253.6 -- 1221.1 -- 221.8 -- 95.9 -- 2792.4 -- -- -- 113.0 --  6 Consumer durables 819.7 -- -- -- -- -- -- -- 819.7 -- -- -- -- --  7 Residential 364.8 -- 60.2 -- -- -- -- -- 425.0 -- -- -- 0.1 --  8 Nonresidential 69.2 -- 1110.9 -- 221.8 -- 96.5 -- 1498.4 -- -- -- 112.9 --  9 Inventory change -- -- 49.4 -- -- -- -- -- 49.4 -- -- -- -- -- 10 Access rights from fed. govt. -- -- 0.6 -- -- -- -0.6 -- 0.0 -- -- -- -- -- 11 Net financial investment -246.9 -- -169.4 -- -1.3 -- 214.2 -- -203.4 -- 444.0 -- -61.8 -- 12 Financial uses 307.9 -- 704.6 -- 53.3 -- -57.8 -- 1008.0 -- 940.5 -- 2353.1 -- 13 Financial sources -- 554.8 -- 874.0 -- 54.5 -- -272.0 -- 1211.4 -- 496.5 -- 2414.9 14 Gold and off. fgn. exchange -- -- -- -- -- -- -0.6 -- -0.6 -- -0.7 -0.4 0.9 -- 15 SDR certificates -- -- -- -- -- -- -- -4.0 -- -4.0 -- -- -4.0 -- 16 Treasury currency -- -- -- -- -- -- -- 2.4 -- 2.4 -- -- 3.6 -- 17 Foreign deposits 7.7 -- -3.9 -- -- -- -- -- 3.9 -- -- 120.8 48.2 -- 18 Interbank claims -- -- -- -- -- -- -- -- -- -- -11.5 -- -26.1 -20.3 19 Checkable dep. and currency -47.4 -- 54.3 -- 1.0 -- -65.1 -- -57.2 -- -8.2 -- -16.7 -71.5 20 Time and savings deposits 311.4 -- 2.9 -- 9.4 -- 1.0 -- 324.7 -- 5.7 -- -21.3 309.1 21 Money market fund shares 131.3 -- 50.4 -- -- -- -- -- 181.8 -- -- -- 51.6 233.3 22 Fed. funds and security RPs -- -- -0.1 -- 9.7 -- -- -- 9.6 -- 5.1 -- -14.6 110.9 23 Credit market instruments -137.1 543.0 7.6 594.8 9.2 27.2 7.3 -295.9 -112.9 869.1 279.3 96.0 1608.9 810.1 24 Open market paper 5.0 -- -0.4 48.1 7.6 -- -- -- 12.1 48.1 8.7 31.7 186.7 127.7 25 Treasury securities -164.3 -- -13.9 -- -30.6 -- -- -294.9 -208.8 -294.9 -63.0 -- -23.1 -- 26 Federal agency securities 4.2 -- 5.7 -- 23.5 -- 0.0 -1.0 33.3 -1.0 152.7 -- 246.4 433.5 27 Municipal securities 14.5 5.8 11.0 1.4 0.6 28.2 -- -- 26.1 35.3 -- -- 9.3 -- 28 Corporate and fgn. bonds 2.0 -- -- 175.0 3.7 -- -- -- 5.7 175.0 183.1 54.3 241.1 200.5 29 Bank loans n.e.c. -- 8.2 -- 94.9 -- -- -- -- -- 103.1 -- 11.3 114.1 -0.3 30 Other loans and advances -- 16.4 -- 88.8 -- -1.0 8.2 -- 8.2 104.2 -2.2 -1.3 139.3 42.5 31 Mortgages 1.5 380.4 2.9 186.6 4.5 -- -0.9 0.0 8.1 567.0 -- -- 565.1 6.2 32 Consumer credit -- 132.3 2.4 -- -- -- -- -- 2.4 132.3 -- -- 130.0 -- 33 Corporate equities -484.1 -- -- -166.6 -1.2 -- -- -- -485.3 -166.6 193.8 99.7 196.6 -27.9 34 Mutual fund shares 229.8 -- -1.8 -- 0.8 -- -- -- 228.8 -- -- -- 15.1 243.9 35 Trade credit -- 5.9 143.5 115.4 -- 27.4 5.3 1.2 148.8 149.8 10.4 1.6 34.0 5.0 36 Security credit 84.9 5.8 -- -- -- -- -- -- 84.9 5.8 0.0 0.0 56.1 135.2 37 Life insurance reserves 50.2 -- -- -- -- -- -- 1.4 50.2 1.4 -- -- -- 48.7 38 Pension fund reserves 216.9 -- -- -- -- -- -- 20.9 216.9 20.9 -- -- -- 196.0 39 Taxes payable -- -- -- 14.5 11.9 -- -4.3 -- 7.6 14.5 -- -- -- 7.3 40 Inv. in bank personal trusts -29.7 -- -- -- -- -- -- -- -29.7 -- -- -- -- -29.7 41 Equity in noncorp. business -30.7 -- -- -59.1 -- -- -- -- -30.7 -59.1 -- -- -- 28.3 42 Miscellaneous 4.7 0.1 451.7 375.1 12.3 -- -1.4 2.0 467.3 377.2 466.6 178.8 420.8 436.2 43 Sector discrepancies (1 less 4) 6.0 -- -84.8 -- -28.6 -- -4.8 -- -112.2 -- -14.2 -- 78.1 -- General 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.
Z.1, September 18, 2001 Flow of Funds Matrix for 2000

(Billions of dollars; All Sectors -- Assets and Liabilities)

Households State Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Rest of Financ

Organizations Business Governments Government Sectors the World Secto

 A L A L A LAL A L A L A 

 (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) 

 1 Total financial assets 33138.5 -- 9466.1 -- 1321.0 -- 506.7 -- 44432.3 -- 7368.9 -- 36872.1  2 Total liabilities and equity -- 7455.7 -- 28402.3 -- 1915.2 -- 4225.0 -- 41998.2 -- 5315.3 --  3 Total liabilities -- 7455.7 -- 11241.3 -- 1915.2 -- 4225.0 -- 24837.2 -- 3528.3 --  4 Monetary gold and SDRs -- -- -- -- -- -- 10.5 -- 10.5 -- -- -- 11.0  5 IMF Position -- -- -- -- -- -- 15.2 -- 15.2 -- -- 15.1 -0.1  6 Official foreign exchange -- -- -- -- -- -- 15.3 -- 15.3 -- -- 30.9 15.7  7 SDR certificates -- -- -- -- -- -- -- 2.2 -- 2.2 -- -- 2.2  8 Treasury currency -- -- -- -- -- -- -- 23.2 -- 23.2 -- -- 31.6  9 Foreign deposits 51.3 -- 22.2 -- -- -- -- -- 73.5 -- -- 824.5 91.1 10 Interbank claims -- -- -- -- -- -- -- -- -- -- 127.9 -- 64.4 11 Checkable dep. and currency 231.2 -- 685.7 -- 33.2 -- 24.6 -- 974.6 -- 290.1 -- 127.2 12 Time and savings deposits 3264.0 -- 143.0 -- 111.5 -- 6.3 -- 3524.8 -- 107.2 -- 284.4 13 Money market fund shares 1003.0 -- 230.3 -- -- -- -- -- 1233.3 -- -- -- 578.8 14 Fed. funds and security RPs -- -- 5.2 -- 173.3 -- -- -- 178.5 -- 91.9 -- 549.5 15 Credit market instruments 1977.3 7063.8 324.4 6559.4 792.0 1279.3 265.4 3385.2 3359.2 18287.7 3004.6 775.8 21118.1 16 Open market paper 72.7 -- 43.3 278.4 111.5 -- -- -- 227.5 278.4 111.0 120.9 1271.5 17 Treasury securities 331.6 -- 39.6 -- 236.2 -- -- 3357.8 607.4 3357.8 1222.0 -- 1528.5 18 Federal agency securities 288.4 -- 18.2 -- 231.0 -- 0.0 27.3 537.6 27.3 550.3 -- 3256.8 19 Municipal securities 541.1 143.0 36.9 154.2 1.6 1270.6 -- -- 579.6 1567.8 -- -- 988.2 20 Corporate and fgn. bonds 631.7 -- -- 2234.5 77.5 -- -- -- 709.2 2234.5 1003.9 533.7 3331.5 21 Bank loans n.e.c. -- 73.9 -- 1260.7 -- -- -- -- -- 1334.6 -- 70.7 1497.9 22 Other loans and advances -- 246.3 -- 834.9 -- 8.7 188.6 -- 188.6 1089.9 117.3 50.5 1272.7 23 Mortgages 111.8 5034.1 103.9 1796.8 134.3 -- 76.9 0.0 426.8 6831.0 -- -- 6487.1 24 Consumer credit -- 1566.5 82.7 -- -- -- -- -- 82.7 1566.5 -- -- 1483.8 25 Corporate equities 7042.9 -- -- 12243.1 115.1 -- -- -- 7158.0 12243.1 1748.3 1787.0 8162.4 26 Mutual fund shares 3043.2 -- 98.8 -- 26.4 -- -- -- 3168.4 -- -- -- 1288.7 27 Trade credit -- 138.6 2001.2 1525.9 -- 635.9 28.1 66.7 2029.4 2367.2 52.5 52.1 284.6 28 Security credit 408.7 233.7 -- -- -- -- -- -- 408.7 233.7 0.0 0.0 408.8 29 Life insurance reserves 819.1 -- -- -- -- -- -- 36.4 819.1 36.4 -- -- -- 30 Pension fund reserves 9054.8 -- -- -- -- -- -- 704.9 9054.8 704.9 -- -- -- 31 Taxes payable -- -- -- 154.3 45.6 -- 42.4 -- 87.9 154.3 -- -- -- 32 Inv. in bank personal trusts 1019.4 -- -- -- -- -- -- -- 1019.4 -- -- -- -- 33 Equity in noncorp. business 4884.7 -- -- 4917.9 -- -- -- -- 4884.7 4917.9 -- -- -- 34 Miscellaneous 338.9 19.6 5955.2 3001.7 24.1 -- 98.9 6.4 6417.0 3027.7 1946.4 1829.9 3853.5 General 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  the sum of corporate equities (line 25) and equity in noncorporate business (line 33). The matrix shows a discrepancy in column 17 for monetary gold and SDRs (line 4) because by international accounting convention, such instruments are financial assets without corresponding liabilities.
114 Z.1, September 18, 2001

B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

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

1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Assets 23550.6 24174.3 25828.8 26883.4 28312.9 29277.0 32333.0 35150.3 39240.3 43192.3 48717.6 48416.4 1

 2 Tangible assets 9124.4 9326.1 9447.2 9686.6 9908.2 10228.5 10696.8 11189.5 11923.2 12802.1 13804.8 15277.9 2

 3 Financial assets 14426.3 14848.1 16381.6 17196.8 18404.7 19048.5 21636.2 23960.8 27317.1 30390.2 34912.8 33138.5 3

 4 Deposits 3211.9 3259.5 3254.2 3222.8 3159.7 3117.5 3306.9 3451.4 3636.7 3986.3 4146.3 4549.4 4

 5 Credit market instruments 1316.2 1556.3 1634.4 1684.8 1666.4 1953.4 1927.8 2082.5 2018.6 1941.8 2151.6 1977.3 5

 6 Equity shares at market value 3361.7 3135.6 4363.2 4896.2 5696.2 5688.7 7644.4 9165.4 11740.7 13714.7 17290.2 14686.3 6

 7 Directly held 1946.5 1781.4 2548.7 2869.2 3246.8 3097.2 4182.9 4872.3 6209.5 7190.4 9284.7 7042.9 7

 8 Indirectly held 1415.2 1354.2 1814.5 2026.9 2449.3 2591.5 3461.6 4293.2 5531.2 6524.2 8005.4 7643.3 8

 9 Bank personal trusts and estates 231.9 214.1 271.7 268.7 262.0 263.6 365.2 432.9 541.7 585.5 682.2 562.3 9

10 Life insurance companies 59.3 57.8 93.8 113.3 163.5 199.6 274.7 373.3 510.5 665.4 904.4 882.8 10

11 Private pension funds 649.6 622.7 840.9 930.7 1100.5 1142.0 1501.8 1720.0 2083.4 2398.2 2786.1 2634.0 11

12 Defined benefit plans 361.8 344.0 463.2 490.8 565.5 578.6 729.9 825.9 931.0 1030.0 1208.8 1097.4 12

13 Defined contribution plans 287.8 278.6 377.7 439.9 534.9 563.3 771.9 894.1 1152.4 1368.3 1577.3 1536.6 13

14 State and local govt. retirement funds 277.8 284.6 379.1 428.5 497.3 507.6 678.9 828.5 1084.8 1233.9 1343.2 1344.6 14

15 Mutual funds 196.7 175.1 229.0 285.7 426.0 478.7 641.1 938.5 1310.9 1641.1 2289.6 2219.6 15

16 Other 6536.5 6896.7 7129.8 7393.1 7882.5 8288.9 8757.0 9261.4 9921.1 10747.5 11324.8 11925.5 16

17 Liabilities 3471.6 3746.8 3961.4 4168.4 4440.8 4759.6 5111.0 5440.4 5808.7 6291.9 6881.8 7455.7 17

18 Net worth 20079.0 20427.5 21867.3 22715.0 23872.1 24517.4 27222.0 29709.8 33431.5 36900.4 41835.8 40960.7 18

 Memo:

19 Equity shares excluding defined benefit plans 2722.1 2507.0 3521.0 3976.8 4633.3 4602.4 6235.7 7511.1 9725.0 11450.8 14738.2 12244.2 19

 (line 6 minus lines 12 and 14)

 Equity shares (line 6) as a percent of

20 Total assets (line 1) 14.3 13.0 16.9 18.2 20.1 19.4 23.6 26.1 29.9 31.8 35.5 30.3 20

21 Financial assets (line 3) 23.3 21.1 26.6 28.5 30.9 29.9 35.3 38.3 43.0 45.1 49.5 44.3 21

(1) Estimates of equity shares (lines 7 through 15) could differ from other sources owing to alternative definitions of ownership of equity by households.

 Prior to 1985, all pension assets are assumed to have been in defined benefit plans.