108 Z.1, September 16, 2004

F.100.a Nonprofit Organizations (1)

Billions of dollars

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 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 -6.6 42.0 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 28.1 110.5 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 2.3 5.1 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 0.6 0.8 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 3.8 4.5 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 0.7 0.8 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 46.0 35.0 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 4.1 14.8 8

 9 Treasury securities 6.4 13.8 4.8 6.1 6.8 5.1 6.4 16.4 13.9 8.9 11.6 17.5 5.4 9

10 Agency- and GSE-backed securities 4.5 2.6 4.6 3.6 3.1 2.3 2.9 7.6 6.4 4.1 5.4 8.1 2.5 10

11 Municipal securities 0.0 0.5 -0.5 0.0 0.2 0.3 0.4 0.1 0.0 -0.1 0.1 0.1 0.0 11

12 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 15.4 10.5 12

13 Mortgages -0.8 0.9 -0.7 -0.1 0.9 0.9 -0.1 0.9 0.6 0.6 0.9 0.8 1.7 13

14 Corporate equities 5.2 16.1 15.0 -18.6 18.6 8.9 45.1 -10.4 21.0 -30.6 -40.7 -67.4 15.4 14

15 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 -3.3 -1.0 15

16 Security credit 2.8 2.8 2.6 2.0 1.1 0.8 2.0 1.5 3.4 3.7 4.6 1.1 4.3 16

17 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 1.1 4.3 17

18 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 12.0 16.3 18

19 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 31.2 25.0 19

20 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 34.7 68.5 20

21 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 13.5 19.3 21

22 Municipal securities 1.8 3.5 3.3 4.0 2.0 1.4 3.6 0.7 6.6 10.0 12.0 10.4 5.8 22

23 Bank loans n.e.c. 0.2 -5.2 -1.1 -2.8 2.4 5.0 6.4 8.9 0.2 4.8 3.1 -3.5 3.4 23

24 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 0.1 -0.3 24

25 Commercial mortgages 5.8 13.8 9.7 12.9 5.4 7.7 -7.4 -9.6 4.7 -1.2 8.6 6.6 10.4 25

26 Trade payables 2.4 16.2 9.3 9.4 5.9 6.0 5.2 7.9 8.0 8.9 8.7 4.1 3.8 26

27 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 17.0 45.4 27

(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 16, 2004 109

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 1999 2000

 

 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 1957.6 1989.1 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 40.4 45.5 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 10.6 11.4 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 63.6 68.1 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 11.6 12.5 5

 6 Credit market instruments 203.1 220.3 242.9 230.6 244.0 272.8 285.9 324.0 363.3 386.6 427.5 473.5 508.5 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 67.7 82.6 7

 8 Treasury securities 55.7 69.5 74.3 80.3 87.1 92.2 98.5 114.9 128.8 137.6 149.2 166.8 172.2 8

 9 Agency- and GSE-backed securities 26.3 28.9 33.5 37.1 40.3 42.6 45.5 53.1 59.5 63.6 69.0 77.1 79.6 9

10 Municipal securities 0.1 0.6 0.1 0.2 0.4 0.8 1.1 1.2 1.3 1.2 1.3 1.5 1.5 10

11 Corporate and foreign bonds 51.1 60.8 69.0 77.0 82.6 87.1 89.5 101.4 113.1 121.4 136.8 152.2 162.6 11

12 Mortgages 2.6 3.5 2.8 2.8 3.7 4.6 4.5 5.3 6.0 6.6 7.4 8.3 10.0 12

13 Corporate equities 145.8 203.0 197.5 214.6 241.1 270.2 308.2 397.1 494.7 604.9 692.0 769.3 708.6 13

14 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 42.7 38.8 14

15 Security credit 25.7 28.5 31.1 33.1 34.3 35.0 37.1 38.6 42.0 45.8 50.3 51.5 55.8 15

16 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 51.5 55.8 16

17 Equity in noncorporate business 26.1 22.2 16.2 31.4 42.0 49.0 49.2 59.4 67.8 77.5 90.0 102.0 118.3 17

18 Miscellaneous assets (2) 92.0 112.9 137.4 158.0 159.2 174.2 184.3 222.2 246.7 285.0 309.7 340.9 365.9 18

19 Liabilities 253.8 287.5 319.5 357.1 386.8 421.0 444.9 481.4 517.7 555.8 609.3 644.1 712.5 19

20 Credit market instruments 154.7 166.7 178.9 193.4 203.0 217.1 219.9 219.8 231.4 244.8 268.4 281.9 301.2 20

21 Municipal securities 79.9 83.3 86.6 90.6 92.6 94.0 97.6 98.3 104.9 114.9 126.9 137.3 143.0 21

22 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 37.2 33.7 37.1 22

23 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 0.7 0.4 23

24 Commercial mortgages 59.0 72.8 82.5 95.5 100.9 108.5 101.5 91.9 96.6 95.1 103.7 110.3 120.7 24

25 Trade payables 41.3 57.4 66.8 76.2 82.1 88.1 93.2 101.1 109.1 118.0 126.8 130.9 134.7 25

26 Miscellaneous liabilities (2) 57.9 63.3 73.9 87.6 101.8 115.8 131.8 160.4 177.2 193.0 214.2 231.2 276.6 26

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table L.100.
110 Z.1, September 16, 2004

F.106.c Consolidated Statement for Federal, State, and Local Governments (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1999 2000 2001 2002 2003 2003 2004

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Current receipts, NIPA basis 2895.0 3126.0 3113.2 2954.8 3032.0 3012.0 3042.1 2984.9 3089.3 3119.9 3175.3 1

 2 Personal current taxes 1107.5 1235.7 1237.3 1051.2 1001.9 1025.7 1030.7 941.7 1009.4 1006.6 1029.4 2

 3 Taxes on production and imports 674.0 708.9 728.6 762.6 798.1 783.5 792.9 802.0 813.9 823.3 833.3 3

 4 Taxes on corporate income 248.7 255.0 195.0 174.6 225.8 215.0 216.1 229.7 242.5 246.4 258.7 4

 5 Taxes from the rest of the world 5.9 7.3 7.2 7.1 8.1 6.7 9.9 7.8 7.9 8.6 8.3 5

 6 Contributions for govt. social insurance 661.4 702.7 731.2 748.3 773.3 762.4 768.9 776.7 785.0 803.9 812.6 6

 7 Income receipts on assets 106.8 117.5 113.7 102.0 104.0 100.3 103.4 104.9 107.3 105.1 105.3 7

 8 Current transfer receipts 80.6 93.7 101.8 106.3 111.5 108.1 110.4 112.7 114.6 118.0 120.3 8

 9 Current surplus of government enterprises 10.1 5.3 -1.4 2.8 9.5 10.3 9.8 9.3 8.7 8.1 7.5 9

10 Current expenditures, NIPA basis 2741.0 2886.6 3061.6 3234.2 3399.7 3342.4 3412.0 3411.4 3433.0 3499.2 3541.9 10

11 Consumption expenditures 1334.0 1417.1 1501.6 1609.2 1717.1 1689.1 1717.5 1724.0 1737.6 1770.9 1791.5 11

12 Government social benefits 990.4 1044.1 1146.6 1251.6 1309.2 1285.0 1306.9 1320.2 1324.8 1352.5 1373.7 12

13 Other current transfer payments 15.1 18.3 14.0 18.8 23.7 25.1 25.2 23.6 20.8 33.7 22.8 13

14 Interest payments 357.3 362.8 344.1 316.4 303.0 301.8 305.8 299.0 305.4 303.1 313.0 14

15 Subsidies 44.2 44.3 55.3 38.2 46.7 42.8 55.2 44.5 44.4 40.4 39.4 15

16 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 1.4 -1.4 0.0 0.0 1.5 -1.5 16

17 Net government saving, NIPA basis 154.1 239.4 51.6 -279.5 -367.7 -330.4 -369.9 -426.5 -343.8 -379.2 -366.6 17

18 + Consumption of fixed capital 187.0 197.0 206.0 211.2 218.1 215.7 217.3 219.0 220.4 222.6 226.8 18

19 - Insurance and pension fund reserves (2) 3.8 1.8 3.3 -1.7 -0.6 -3.0 -5.3 -2.7 8.5 1.3 -7.0 19

20 + Net capital transfers (3) 32.5 35.6 35.7 28.8 11.6 15.0 7.1 11.8 12.3 13.8 12.5 20

21 = Gross saving and net capital transfers 369.7 470.3 290.0 -37.7 -137.4 -96.8 -140.2 -193.0 -119.6 -144.1 -120.3 21

22 Gross investment 442.2 565.6 289.5 -28.9 -124.9 61.5 -509.9 10.3 -61.6 -271.6 -186.7 22

23 Fixed investment 286.8 304.6 324.0 347.5 358.5 352.3 356.7 362.5 362.4 368.6 383.2 23

24 Nonproduced nonfinancial assets 7.7 8.5 8.6 10.0 9.7 7.2 8.9 13.4 9.3 10.0 9.3 24

25 Net financial investment 147.7 252.5 -43.0 -386.4 -493.1 -298.0 -875.5 -365.6 -433.3 -650.2 -579.2 25

26 Net acquisition of financial assets 158.2 33.7 99.0 56.7 73.7 20.4 96.5 69.2 108.8 32.7 -11.3 26

27 Gold, SDRs, and official foreign exchange -7.1 -0.6 4.6 8.8 -0.8 0.1 0.5 5.6 -9.5 -2.5 -6.0 27

28 Checkable deposits and currency 70.1 -64.1 46.2 -10.2 16.7 -25.2 0.2 34.3 57.5 -49.0 -16.0 28

29 Time and savings deposits 14.0 14.0 15.4 24.8 -15.6 -32.0 51.2 -63.4 -18.1 6.3 52.8 29

30 Money market fund shares 5.1 6.5 19.7 2.3 -9.4 -6.8 -11.1 -18.5 -1.1 -3.6 -9.0 30

31 Security RPs -2.6 8.2 -22.2 -4.9 8.0 3.0 11.6 6.3 11.3 16.0 -18.0 31

32 Credit market instruments 83.9 31.0 71.5 19.7 46.7 -0.1 63.5 58.6 65.1 31.4 16.2 32

33 Open market paper 17.3 17.8 -13.5 5.7 10.5 3.9 15.2 8.2 14.7 7.8 7.9 33

34 Agency- and GSE-backed securities (4) 43.7 1.7 55.4 3.0 22.9 8.4 33.1 17.8 32.0 7.0 9.1 34

35 Municipal securities 0.3 0.3 0.2 0.1 0.3 0.1 0.4 0.2 0.4 0.2 0.2 35

36 Corporate and foreign bonds 11.5 -3.3 25.6 8.2 7.2 2.7 10.5 5.7 10.2 5.4 5.4 36

37 Mortgages 4.3 1.0 -3.1 -5.9 6.2 -6.2 12.8 5.2 12.9 14.4 0.1 37

38 Consumer credit 13.6 16.1 13.1 12.7 1.3 -8.6 -5.9 24.8 -5.0 -0.9 -5.0 38

39 Other loans and advances (5) -6.8 -2.6 -6.2 -4.1 -1.6 -0.4 -2.6 -3.4 -0.2 -2.5 -1.5 39

40 Corporate equities 3.5 -1.2 22.8 7.9 -6.2 -7.7 -6.5 -3.6 -6.9 -3.6 -5.4 40

41 Mutual fund shares -0.7 3.7 7.7 8.9 -12.7 13.6 -26.3 -10.2 -27.8 -20.1 -23.1 41

42 Trade receivables 4.6 5.3 7.3 -3.3 3.7 -10.3 4.3 8.3 12.5 3.1 -6.5 42

43 Taxes receivable 12.1 -6.7 -7.0 1.0 44.3 69.0 34.8 33.6 39.8 31.5 -5.9 43

44 Miscellaneous assets -33.2 30.1 -72.0 0.1 -9.3 13.9 -37.7 12.0 -25.5 17.1 3.5 44

45 Net increase in liabilities 10.5 -218.9 142.0 443.1 566.8 318.4 972.0 434.8 542.0 682.9 567.9 45

46 SDR certificates -3.0 -4.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 Treasury currency 1.0 2.4 1.3 1.0 0.6 0.6 1.6 0.1 -0.0 0.8 1.2 47

48 Credit market instruments -55.8 -273.4 57.8 388.8 506.3 290.3 906.3 371.7 456.7 608.5 500.8 48

49 Savings bonds -0.2 -1.7 5.6 4.5 8.9 9.1 10.0 9.8 6.8 3.5 1.7 49

50 Other Treasury securities (6) -94.3 -287.2 -52.8 240.4 382.2 183.6 730.0 253.0 362.3 455.4 428.7 50

51 Budget agency securities -0.2 -1.0 -0.5 0.5 -2.4 -1.6 0.5 0.1 -8.6 1.1 -3.6 51

52 Municipal securities 38.9 16.5 105.5 143.4 117.5 99.1 165.8 108.9 96.3 148.5 74.1 52

53 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 53

54 Trade payables 28.7 31.8 28.6 25.8 28.2 33.6 23.0 26.0 30.2 32.1 34.8 54

55 Insurance reserves 1.4 1.4 1.4 1.6 1.1 0.1 1.7 0.5 2.2 -0.0 1.9 55

56 Miscellaneous liabilities (7) 38.2 22.9 53.0 26.0 30.7 -6.0 39.4 36.5 52.9 41.5 29.2 56

57 Discrepancy -72.5 -95.3 0.5 -8.8 -12.5 -158.3 369.7 -203.3 -58.1 127.5 66.4 57

 Memo:

58 Net govt. saving less fixed investment (8) -132.7 -65.1 -272.4 -626.9 -726.1 -682.7 -726.6 -789.0 -706.2 -747.8 -749.8 58

59 Adjustment between NIPA and FOF (9) 280.4 317.7 229.3 250.2 243.3 422.7 -148.4 427.8 270.9 97.4 169.7 59

60 Items to be financed (10) 147.7 252.5 -43.0 -376.7 -482.9 -260.0 -875.0 -361.2 -435.2 -650.4 -580.1 60

(1) This table is consistent with NIPA table 3.1 in the Survey of Current Business, Department of Commerce.

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

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

(3) Table F.9, line 1.

(4) Holdings by state and local governments may include small amounts of budget 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) Includes nonmarketable government securities held by civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, and foreign service

 retirement and disability fund.

(8) Line 17 less line 23.

(9) Line 18 plus line 20 less sum of lines 19, 24, and 56.

(10) Line 57 plus line 58.
Z.1, September 16, 2004 111

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

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

1999 2000 2001 2002 2003 2003 2004

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 1835.0 1891.1 2023.0 2045.2 2174.3 2042.4 2101.5 2141.3 2174.3 2183.2 2187.4 1

 2 Gold, SDRs, and official foreign exchange 44.4 41.0 43.1 51.1 55.1 51.7 52.9 54.8 55.1 54.3 52.3 2

 3 Checkable deposits and currency 120.1 57.4 105.1 94.3 109.3 68.3 90.7 102.1 109.3 75.9 94.2 3

 4 Time and savings deposits 111.1 125.1 140.4 165.2 149.6 156.9 169.8 153.0 149.6 150.8 164.0 4

 5 Money market fund shares 27.6 34.1 53.7 56.0 46.6 54.3 51.5 46.9 46.6 45.7 43.5 5

 6 Security RPs 151.6 159.8 137.6 132.7 140.7 133.4 136.3 137.9 140.7 144.7 140.2 6

 7 Credit market instruments 758.3 789.3 860.8 880.5 927.2 880.4 896.3 910.9 927.2 935.1 939.1 7

 8 Open market paper 103.3 121.2 107.6 113.3 123.8 114.3 118.1 120.1 123.8 125.8 127.8 8

 9 Agency- and GSE-backed securities (1) 196.5 198.1 253.5 256.5 279.3 258.6 266.9 271.3 279.3 281.1 283.4 9

10 Municipal securities 3.5 3.8 4.0 4.1 4.4 4.1 4.2 4.3 4.4 4.4 4.5 10

11 Corporate and foreign bonds 73.3 70.0 95.6 103.8 111.1 104.5 107.1 108.5 111.1 112.4 113.8 11

12 Mortgages 208.3 209.3 206.1 200.3 206.4 198.7 201.9 203.2 206.4 210.1 210.1 12

13 Consumer credit 50.9 67.0 80.1 92.8 94.1 90.6 89.1 95.3 94.1 93.9 92.6 13

14 Other loans and advances (2) 122.5 119.9 113.8 109.7 108.1 109.6 109.0 108.1 108.1 107.4 107.0 14

15 Corporate equities 117.1 97.1 100.7 80.3 96.3 75.6 85.8 87.7 96.3 97.5 97.0 15

16 Mutual fund shares 21.4 21.2 24.3 24.2 21.2 26.4 25.6 24.2 21.2 16.8 11.3 16

17 Trade receivables 22.9 28.1 35.5 32.2 35.9 30.7 31.6 33.6 35.9 37.8 36.0 17

18 Taxes receivable 66.1 84.7 125.9 120.8 176.3 152.2 151.5 172.9 176.3 201.8 188.4 18

19 Miscellaneous assets 290.7 341.8 279.5 290.0 289.8 293.7 287.7 293.8 289.8 294.9 292.1 19

20 Total liabilities 5970.6 5749.5 5899.2 6342.5 6911.7 6423.5 6608.2 6732.7 6911.7 7077.9 7166.9 20

21 SDR certificates 6.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 21

22 Treasury currency 20.9 23.2 24.5 25.5 26.0 25.6 26.0 26.0 26.0 26.2 26.5 22

23 Credit market instruments 4544.9 4271.5 4329.3 4718.1 5224.3 4808.9 4973.3 5079.0 5224.3 5391.7 5460.3 23

24 Savings bonds 186.4 184.8 190.3 194.9 203.8 196.9 199.1 201.5 203.8 204.4 204.6 24

25 Other Treasury securities (3) 3163.0 2875.8 2823.0 3063.3 3445.6 3128.6 3235.8 3330.4 3445.6 3576.4 3612.5 25

26 Budget agency securities 28.3 27.3 26.8 27.3 24.9 26.9 27.0 27.0 24.9 25.1 24.2 26

27 Municipal securities 1167.1 1183.6 1289.2 1432.6 1550.1 1456.6 1511.4 1520.1 1550.1 1585.7 1619.0 27

28 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 28

29 Trade payables 673.1 704.9 733.5 759.2 787.4 769.6 776.3 783.2 787.4 797.5 807.1 29

30 Insurance reserves 35.0 36.4 37.8 39.4 40.5 39.4 39.8 39.9 40.5 40.5 40.9 30

31 Miscellaneous liabilities (4) 690.6 711.3 772.0 798.2 831.3 777.9 790.7 802.3 831.3 819.8 829.8 31

(1) Holdings by state and local governments may include small amounts of budget 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.

(4) Includes nonmarketable government securities held by civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, and foreign service

 retirement and disability fund.
112 Z.1, September 16, 2004

F.119.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

 

 1 Net acquisition of financial assets 27.5 11.8 47.8 45.2 -27.2 -40.6 -47.0 -49.3 -88.5 -71.3 -67.6 -25.5 20.6 1

 2 Checkable deposits and currency -0.1 0.0 -0.0 0.8 0.3 0.2 0.4 0.6 0.2 0.2 -0.5 0.1 0.1 2

 3 Time and savings deposits 5.5 -9.1 6.4 13.1 4.8 10.8 13.3 15.1 -9.3 3.2 -3.2 4.1 3.8 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 1.8 -1.1 -0.0 -4.2 -0.2 3.2 0.3 0.6 2.0 1.3 0.5 1.2 0.8 5

 6 Credit market instruments 12.8 17.1 22.9 35.6 24.1 -8.9 39.7 -20.1 84.6 -0.1 -17.6 -11.0 -1.4 6

 7 Open market paper 1.8 -1.1 -0.0 -4.2 -0.2 3.2 0.3 0.6 2.0 1.3 -2.0 1.3 0.7 7

 8 Treasury securities -8.9 -11.0 -5.6 10.1 2.0 -4.6 3.7 -20.2 4.1 -7.2 -13.7 -4.2 -0.8 8

 9 Agency- and GSE-backed securities 12.8 11.5 15.9 30.7 4.7 -10.8 8.6 -16.7 32.0 0.8 -2.9 -4.9 -1.9 9

10 Corporate and foreign bonds 13.8 20.8 14.0 2.7 17.4 3.1 26.5 16.4 46.5 4.8 0.9 -3.2 0.8 10

11 Mortgages -6.8 -3.1 -1.4 -3.7 0.2 0.1 0.6 -0.3 0.1 0.2 0.0 0.0 -0.2 11

12 Corporate equities 2.0 8.7 6.8 -3.8 -51.1 -55.3 -100.9 -54.6 -154.6 -71.1 -37.8 -25.2 8.1 12

13 Mutual fund shares 1.4 2.3 4.4 3.7 1.9 -2.2 1.3 3.3 -4.5 -0.3 -2.0 -0.5 2.5 13

14 Miscellaneous assets 4.1 -6.1 7.3 0.1 -6.9 11.7 -1.2 5.9 -7.0 -4.5 -6.9 5.7 6.7 14

15 Unallocated insurance contracts (1) -2.2 -5.0 -0.6 -5.1 -6.0 2.3 -5.6 -3.8 -14.4 -4.7 -2.2 1.8 4.9 15

16 Contributions receivable 8.2 5.6 7.4 6.2 -0.3 -0.3 3.5 8.0 2.7 0.0 0.0 0.0 0.0 16

17 Other -1.9 -6.7 0.6 -1.0 -0.6 9.7 0.9 1.8 4.8 0.2 -4.7 3.9 1.8 17

(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 63.2 52.4 51.4 40.4 53.4 38.7 29.4 33.4 12.9 20.7 15.2 13.9 21.7 1

 2 Checkable deposits and currency -0.3 -0.1 0.2 0.1 0.4 0.4 0.8 -1.5 1.0 0.2 -0.4 0.3 0.1 2

 3 Time and savings deposits 0.1 -8.0 -9.9 -6.3 -0.2 -5.5 -5.8 13.3 -19.6 -0.3 7.4 -3.3 -1.3 3

 4 Money market fund shares 1.0 1.0 6.5 5.3 6.0 10.8 13.1 1.9 11.7 4.6 -10.6 2.8 2.9 4

 5 Security RPs 1.9 1.3 0.9 -2.0 0.2 1.3 0.6 0.6 1.7 -0.4 0.3 0.6 -1.5 5

 6 Credit market instruments 12.6 8.8 13.3 4.1 -7.6 2.4 6.1 -5.9 14.7 3.9 1.8 32.1 5.5 6

 7 Open market paper 1.4 0.9 0.7 -2.0 0.7 2.4 0.9 2.5 5.0 -3.1 -0.2 9.6 -6.7 7

 8 Treasury securities 3.6 2.6 1.2 6.7 -2.5 -0.2 -1.2 -13.0 -1.8 -2.4 -8.0 3.0 -1.3 8

 9 Agency- and GSE-backed securities 0.0 -0.9 -1.8 10.2 -2.0 0.2 -0.9 0.1 6.3 8.2 10.7 6.8 -3.4 9

10 Corporate and foreign bonds 7.4 6.9 13.2 -9.3 -4.3 -0.5 7.2 4.5 3.6 0.2 -2.0 11.1 14.8 10

11 Mortgages 0.1 -0.6 -0.2 -1.4 0.5 0.5 0.1 -0.0 1.6 1.0 1.3 1.7 2.2 11

12 Corporate equities 10.8 27.6 13.4 4.1 -21.0 -20.4 -41.3 24.1 -105.7 16.0 5.1 -41.6 17.1 12

13 Mutual fund shares 9.8 13.0 22.4 20.1 43.1 25.3 41.4 -6.8 107.1 1.5 -1.8 11.5 -3.4 13

14 Miscellaneous assets 27.3 8.8 4.6 15.0 32.6 24.2 14.7 7.8 2.1 -4.8 13.5 11.4 2.4 14

15 Unallocated insurance contracts (2) 23.0 10.6 12.9 8.9 23.7 12.2 4.6 -11.0 4.5 -7.0 4.7 11.1 1.8 15

16 Contributions receivable 3.9 4.4 4.9 5.5 4.4 4.3 3.6 13.4 -10.3 1.2 1.3 1.3 1.3 16

17 Other 0.4 -6.2 -13.2 0.6 4.5 7.7 6.5 5.5 7.9 1.0 7.6 -1.0 -0.7 17

(1) Includes 401(k) type plans.

(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: 67.4 58.5 49.1 53.0 58.5 65.3 70.6 84.8 110.4 112.6 95.6 109.3 124.7 1

 2 Commercial banking 16.6 -0.5 -2.9 -1.1 6.5 0.7 0.1 -0.5 -3.4 8.9 3.1 5.4 0.4 2

 3 Saving institutions -3.8 -8.3 -9.1 -6.3 -1.9 -3.9 -6.0 -5.3 -3.1 -2.3 -1.8 -0.7 1.3 3

 4 Credit unions 3.6 0.9 -0.3 -0.0 1.2 0.9 1.2 0.3 0.9 0.4 3.2 3.4 3.5 4

 5 Life insurance companies 7.1 4.9 12.6 13.2 11.2 10.3 47.5 24.6 40.8 19.5 26.6 82.2 38.8 5

 6 Money market mutual funds -0.1 3.0 5.0 13.7 12.9 13.8 3.0 25.0 21.0 4.0 18.0 13.0 -14.0 6

 7 Mutual funds 40.7 38.0 59.6 11.5 63.7 49.5 93.3 87.6 93.8 51.4 31.4 15.9 96.4 7

 8 Other self-directed accounts 3.3 20.5 -15.7 22.1 -35.0 -6.1 -68.4 -46.9 -39.6 30.7 15.1 -9.9 -1.8 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 16, 2004 113

L.119.b Private Pension Funds: Defined Benefit Plans

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

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

 

 1 Total financial assets 1051.7 1079.9 1195.1 1276.0 1460.5 1579.0 1746.8 1885.4 2071.7 1957.5 1762.4 1541.9 1797.4 1

 2 Checkable deposits and currency 1.0 1.0 1.0 1.8 2.1 2.2 2.6 3.2 3.4 3.6 3.1 3.3 3.4 2

 3 Time and savings deposits 56.8 47.6 54.1 67.1 71.9 82.7 96.0 111.1 101.7 104.9 101.7 105.8 109.6 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 16.9 15.8 15.8 11.6 11.4 14.6 14.9 15.5 17.5 18.9 19.4 20.6 21.4 5

 6 Credit market instruments 362.7 379.8 402.7 438.3 462.4 453.5 493.1 473.0 557.6 557.5 539.9 528.9 527.5 6

 7 Open market paper 16.9 15.8 15.8 11.6 11.4 14.6 14.9 15.5 17.5 18.9 16.9 18.2 18.9 7

 8 Treasury securities 84.7 73.7 68.1 78.2 80.2 75.6 79.3 59.1 63.2 56.1 42.4 38.1 37.3 8

 9 Agency- and GSE-backed securities 124.3 135.8 151.7 182.4 187.1 176.4 185.0 168.3 200.2 201.0 198.1 193.2 191.3 9

10 Corporate and foreign bonds 123.9 144.7 158.7 161.4 178.8 181.9 208.4 224.8 271.3 276.1 277.0 273.9 274.7 10

11 Mortgages 13.0 9.9 8.5 4.7 4.9 5.0 5.6 5.3 5.3 5.5 5.5 5.5 5.4 11

12 Corporate equities 458.6 484.5 555.6 559.9 699.6 785.8 876.0 986.6 1069.9 961.9 814.5 622.9 827.5 12

13 Mutual fund shares 11.4 15.6 22.3 39.0 54.8 63.8 81.4 101.0 122.8 117.8 102.3 80.9 109.0 13

14 Miscellaneous assets 144.3 135.5 143.5 158.2 158.3 176.4 182.6 194.9 198.7 192.8 181.4 179.6 199.0 14

15 Unallocated insurance contracts (1) 77.3 69.6 69.7 79.2 80.3 88.9 90.7 93.3 89.6 83.4 76.7 71.0 88.6 15

16 Contributions receivable 25.1 30.7 38.0 44.2 43.9 43.6 47.1 55.1 57.8 57.8 57.8 57.8 57.8 16

17 Other 41.9 35.2 35.8 34.8 34.2 43.9 44.8 46.6 51.4 51.6 46.9 50.8 52.6 17

(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 877.0 956.1 1087.9 1157.9 1428.3 1627.7 1942.5 2219.4 2499.6 2464.8 2277.3 1971.4 2378.4 1

 2 Checkable deposits and currency 2.0 2.0 2.2 2.3 2.7 3.1 4.0 2.5 3.5 3.6 3.2 3.5 3.6 2

 3 Time and savings deposits 59.2 51.1 41.3 35.0 34.7 29.3 23.4 36.7 17.0 16.8 24.1 20.9 19.6 3

 4 Money market fund shares 18.8 19.8 26.3 31.6 37.5 48.4 61.4 63.4 75.1 79.6 69.0 71.8 74.7 4

 5 Security RPs 10.4 11.6 12.6 10.6 10.7 12.1 12.7 13.2 14.9 14.5 14.9 15.5 14.0 5

 6 Credit market instruments 126.9 135.8 149.0 153.1 145.5 147.9 154.0 148.1 162.7 166.6 168.4 200.5 206.0 6

 7 Open market paper 12.7 13.6 14.3 12.3 13.0 15.4 16.3 18.8 23.8 20.7 20.5 30.1 23.4 7

 8 Treasury securities 32.4 35.0 36.3 43.0 40.5 40.2 39.0 26.0 24.2 21.8 13.8 16.8 15.4 8

 9 Agency- and GSE-backed securities 21.7 20.7 18.9 29.1 27.1 27.3 26.4 26.5 32.8 41.0 51.7 58.6 55.1 9

10 Corporate and foreign bonds 54.8 61.8 75.0 65.7 61.4 61.0 68.1 72.7 76.2 76.4 74.4 85.5 100.3 10

11 Mortgages 5.3 4.7 4.5 3.1 3.6 4.0 4.1 4.1 5.7 6.7 8.0 9.7 11.8 11

12 Corporate equities 347.6 389.2 458.7 453.8 578.3 659.4 790.6 961.2 1011.4 994.2 883.2 665.3 881.7 12

13 Mutual fund shares 55.0 80.6 119.9 166.9 272.0 348.5 488.2 567.1 774.8 755.9 674.6 553.7 715.6 13

14 Miscellaneous assets 257.1 266.1 278.0 304.7 346.8 379.1 408.3 427.2 440.2 433.6 440.0 440.2 463.2 14

15 Unallocated insurance contracts (2) 167.2 178.0 198.2 218.7 252.0 272.2 291.3 291.3 306.8 297.9 295.5 295.5 317.9 15

16 Contributions receivable 19.3 23.7 28.6 34.1 38.5 42.8 46.4 59.8 49.5 50.8 52.0 53.3 54.6 16

17 Other 70.6 64.4 51.3 51.9 56.4 64.1 70.6 76.1 83.9 84.9 92.5 91.4 90.7 17

(1) Includes 401(k) type plans.

(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: 776.0 873.0 993.0 1056.0 1288.0 1467.0 1728.0 2150.0 2651.0 2629.0 2619.0 2445.0 2979.0 1

 2 Commercial banking 149.2 148.6 145.8 144.7 151.1 151.9 152.0 151.5 148.1 157.0 160.1 165.6 166.0 2

 3 Saving institutions 102.5 94.2 85.1 78.9 76.9 73.0 67.0 61.8 58.7 56.4 54.6 53.9 55.1 3

 4 Credit unions 31.1 32.1 31.8 31.8 33.0 33.8 35.0 35.3 36.2 36.7 39.9 43.3 46.8 4

 5 Life insurance companies 49.7 55.6 69.5 78.7 94.3 110.3 160.0 190.1 245.5 245.5 251.0 308.3 370.0 5

 6 Money market mutual funds 39.6 42.6 47.6 61.3 74.2 88.0 91.0 116.0 137.0 141.0 159.0 172.0 158.0 6

 7 Mutual funds 143.0 187.0 263.7 275.4 381.6 483.0 655.0 818.0 1078.0 1048.0 961.0 819.0 1079.0 7

 8 Other self-directed accounts 260.9 312.9 349.6 385.3 476.9 526.9 568.0 777.3 947.5 944.4 993.4 883.0 1104.0 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 16, 2004 Flow of Funds Matrix for 2003

(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 US U 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 -- 1175.4 -- 1119.4 -- 176.2 -- -313.6 -- 2157.3 -- 514.0 -- 212.3  2 Capital consumption -- 854.8 -- 851.9 -- 127.9 -- 90.2 -- 1924.9 -- -- -- 88.7  3 Net saving (1 less 2) -- 335.4 -- 267.3 -- 48.4 -- -403.9 -- 247.2 -- 514.0 -- 123.6  4 Gross investment (5 plus 11) 1385.5 -- 1146.9 -- 202.3 -- -327.3 -- 2407.5 -- 542.8 -- 170.6 --  5 Capital expenditures 1443.5 -- 975.1 -- 274.8 -- 93.4 -- 2786.8 -- 0.1 -- 122.2 --  6 Consumer durables 884.9 -- -- -- -- -- -- -- 884.9 -- -- -- -- --  7 Residential 490.6 -- 80.2 -- -- -- -- -- 570.8 -- -- -- 1.5 --  8 Nonresidential 68.0 -- 905.9 -- 264.9 -- 93.6 -- 1332.4 -- -- -- 120.7 --  9 Inventory change -- -- -1.2 -- -- -- -- -- -1.2 -- -- -- -- -- 10 Nonproduced nonfinancial assets -- -- -9.8 -- 10.0 -- -0.3 -- -0.1 -- 0.1 -- -- -- 11 Net financial investment -58.0 -- 171.8 -- -72.5 -- -420.6 -- -379.3 -- 542.7 -- 48.4 -- 12 Financial uses 841.7 -- 665.7 -- 69.3 -- 12.0 -- 1580.5 -- 783.0 -- 2561.9 -- 13 Financial sources -- 899.8 -- 493.9 -- 141.8 -- 432.6 -- 1968.0 -- 240.4 -- 2505.0 14 Gold and off. fgn. exchange -- -- -- -- -- -- -0.8 -- -0.8 -- 0.6 1.1 1.3 -- 15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 -- -- 0.0 -- 16 Treasury currency -- -- -- -- -- -- -- 0.6 -- 0.6 -- -- 0.9 -- 17 Foreign deposits -9.0 -- 21.4 -- -- -- -- -- 12.4 -- -- -0.0 -39.9 -- 18 Interbank claims -- -- -- -- -- -- -- -- -- -- 0.5 -- -0.1 -4.4 19 Checkable dep. and currency -42.4 -- 113.3 -- 8.5 -- 8.2 -- 87.5 -- 24.7 -- 29.4 133.8 20 Time and savings deposits 325.0 -- 46.2 -- 9.6 -- -25.2 -- 355.6 -- -21.1 -- -43.2 291.4 21 Money market fund shares -99.7 -- -46.0 -- -9.4 -- -- -- -155.1 -- -- -- -52.8 -207.8 22 Fed. funds and security RPs -- -- -0.4 -- 8.0 -- -- -- 7.6 -- 272.7 -- -34.8 222.7 23 Credit market instruments 144.3 856.6 32.5 302.5 56.8 117.8 -2.5 396.0 231.1 1672.9 538.2 -15.7 1871.0 983.0 24 Open market paper -4.1 -- 18.8 -40.0 10.5 -- -- -- 25.2 -40.0 9.9 22.3 -116.7 -63.8 25 Treasury securities 6.4 -- 12.5 -- 7.3 -- -- 398.4 26.1 398.4 285.1 -- 87.2 -- 26 Agency- and GSE-backed sec. 264.5 -- 8.2 -- 22.9 -- 0.0 -2.4 295.5 -2.4 11.5 -- 264.7 574.1 27 Municipal securities 33.4 14.1 8.3 3.4 0.3 117.5 -- -- 42.0 135.1 -- -- 93.1 -- 28 Corporate and fgn. bonds -167.2 -- -- 158.3 7.2 -- -- -- -160.0 158.3 232.6 -28.1 500.3 442.7 29 Bank loans n.e.c. -- -6.6 -- -75.2 -- -- -- -- -- -81.7 -- -7.7 -94.5 -5.0 30 Other loans and advances -- -1.5 -- 11.3 -- 0.3 -1.4 -- -1.4 10.0 -0.8 -2.1 41.4 31.2 31 Mortgages 11.4 767.6 0.8 244.7 8.6 -- -2.5 0.0 18.4 1012.3 -- -- 997.8 3.9 32 Consumer credit -- 83.0 -16.1 -- -- -- 1.3 -- -14.8 83.0 -- -- 97.7 -- 33 Corporate equities -129.3 -- -- -57.8 -6.2 -- -- -- -135.5 -57.8 36.9 100.4 204.3 63.0 34 Mutual fund shares 326.5 -- -4.6 -- -12.7 -- -- -- 309.3 -- -- -- -21.1 288.2 35 Trade credit -- 7.9 154.5 126.1 8.2 24.0 3.7 4.2 166.4 162.2 1.7 7.9 25.7 -9.2 36 Security credit 62.7 34.3 -- -- -- -- -- -- 62.7 34.3 0.0 0.0 69.8 98.2 37 Life insurance reserves 66.8 -- -- -- -- -- -- 1.1 66.8 1.1 -- -- -- 65.7 38 Pension fund reserves 219.7 -- -- -- -- -- -- -- 219.7 41.8 -- -- -- 219.7 39 Taxes payable -- -- -- 1.2 17.1 -- 27.2 -- 44.3 1.2 -- -- -- 11.2 40 Inv. in bank personal trusts -26.3 -- -- -- -- -- -- -- -26.3 -- -- -- -- -26.3 41 Equity in noncorp. business -38.6 -- -- -47.7 -- -- -- -- -38.6 -47.7 -- -- -- 9.1 42 Miscellaneous 42.0 0.9 348.9 169.6 -10.7 -- 1.4 30.7 381.6 201.2 -71.2 146.7 542.9 366.9 43 Sector discrepancies (1 less 4) -210.1 -- -27.5 -- -26.1 -- 13.6 -- -250.2 -- -28.8 -- 41.6 -- 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 16, 2004 Flow of Funds Matrix for 2003

(Billions of dollars; All Sectors -- Assets and Liabilities)

Households State Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Rest of Fin

Organizations Business Governments Government Sectors the World Se

 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 34265.6 -- 12504.4 -- 1905.0 -- 637.8 -- 49186.5 -- 8228.7 -- 43528.8  2 Total liabilities and equity -- 9603.4 -- 29710.7 -- 2269.4 -- 5010.8 -- 46594.3 -- 5368.1 --  3 Total liabilities -- 9603.4 -- 13709.9 -- 2269.4 -- 5010.8 -- 30593.4 -- 4064.5 --  4 Monetary gold and SDRs -- -- -- -- -- -- 12.6 -- 12.6 -- -- -- 11.0  5 IMF Position -- -- -- -- -- -- 22.6 -- 22.6 -- -- 22.5 -0.1  6 Official foreign exchange -- -- -- -- -- -- 19.9 -- 19.9 -- -- 39.7 19.9  7 SDR certificates -- -- -- -- -- -- -- 2.2 -- 2.2 -- -- 2.2  8 Treasury currency -- -- -- -- -- -- -- 26.0 -- 26.0 -- -- 35.5  9 Foreign deposits 65.2 -- 41.4 -- -- -- -- -- 106.5 -- -- 831.1 74.2 10 Interbank claims -- -- -- -- -- -- -- -- -- -- 120.2 -- 70.7 11 Checkable dep. and currency 316.3 -- 734.1 -- 55.2 -- 54.1 -- 1159.7 -- 351.3 -- 266.6 12 Time and savings deposits 3907.3 -- 320.6 -- 147.2 -- 2.4 -- 4377.6 -- 131.2 -- 352.4 13 Money market fund shares 989.0 -- 344.1 -- 46.6 -- -- -- 1379.8 -- -- -- 636.3 14 Fed. funds and security RPs -- -- 5.8 -- 140.7 -- -- -- 146.5 -- 462.9 -- 609.6 15 Credit market instruments 2154.4 9252.3 389.3 7427.1 1010.1 1559.7 285.6 4033.1 3839.4 22272.2 3933.1 649.8 26234.9 16 Open market paper 94.9 -- 83.5 85.9 123.8 -- -- -- 302.2 85.9 107.7 165.1 883.3 17 Treasury securities 455.6 -- 89.0 -- 358.8 -- -- 4008.2 903.5 4008.2 1539.2 -- 1565.5 18 Agency- and GSE-backed sec. 485.5 -- 25.1 -- 279.3 -- 0.0 24.9 790.0 24.9 661.7 -- 4656.3 19 Municipal securities 618.6 183.9 44.1 164.2 4.4 1550.1 -- -- 667.1 1898.2 -- -- 1231.0 20 Corporate and fgn. bonds 352.4 -- -- 2869.3 111.1 -- -- -- 463.5 2869.3 1499.5 381.9 4552.4 21 Bank loans n.e.c. -- 94.4 -- 1036.7 -- -- -- -- -- 1131.1 -- 60.9 1292.3 22 Other loans and advances -- 119.3 -- 842.4 -- 9.7 117.7 -- 117.7 971.3 125.0 42.0 1272.3 23 Mortgages 147.4 6829.2 77.3 2428.6 132.6 -- 73.8 0.0 431.1 9257.7 -- -- 8920.6 24 Consumer credit -- 2025.5 70.3 -- -- -- 94.1 -- 164.4 2025.5 -- -- 1861.2 25 Corporate equities 6146.7 -- -- 10154.9 96.3 -- -- -- 6243.0 10154.9 1669.0 1957.9 7584.9 26 Mutual fund shares 3182.4 -- 121.0 -- 21.2 -- -- -- 3324.6 -- -- -- 1328.6 27 Trade credit -- 147.7 2243.0 1882.9 126.3 709.6 35.9 77.8 2405.2 2818.1 48.7 45.5 370.1 28 Security credit 475.4 182.5 -- -- -- -- -- -- 475.4 182.5 0.0 0.0 396.0 29 Life insurance reserves 1013.2 -- -- -- -- -- -- 40.5 1013.2 40.5 -- -- -- 30 Pension fund reserves 8960.6 -- -- -- -- -- -- -- 8960.6 842.1 -- -- -- 31 Taxes payable -- -- -- 171.0 73.5 -- 102.8 -- 176.3 171.0 -- -- -- 32 Inv. in bank personal trusts 932.4 -- -- -- -- -- -- -- 932.4 -- -- -- -- 33 Equity in noncorp. business 5660.8 -- -- 5845.9 -- -- -- -- 5660.8 5845.9 -- -- -- 34 Miscellaneous 462.0 20.9 8305.1 4228.8 187.9 -- 101.9 831.3 9056.8 5081.0 1512.3 2475.8 5552.7 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.
116 Z.1, September 16, 2004

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

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

 

 1 Assets 26931.4 28454.2 29419.0 32628.5 35541.4 39667.1 43624.9 49110.9 49378.0 49100.9 48232.1 54119.4 1

 2 Tangible assets 9780.2 10095.9 10416.1 11020.3 11482.7 12146.2 13150.4 14217.0 15524.3 16774.6 18204.3 19853.8 2

 3 Financial assets 17151.2 18358.3 19002.8 21608.2 24058.6 27521.0 30474.5 34894.0 33853.6 32326.3 30027.8 34265.6 3

 4 Deposits 3219.4 3155.8 3109.3 3297.8 3440.5 3615.4 3853.6 4031.9 4357.4 4821.8 5103.8 5277.8 4

 5 Credit market instruments 1675.0 1650.8 1946.1 1956.1 2154.1 2140.0 2264.3 2392.1 2235.2 2104.8 2010.1 2154.4 5

 6 Equity shares at market value 4887.3 5683.8 5680.2 7605.7 9168.5 11795.2 13737.3 17266.1 15339.4 13103.9 10044.5 13037.9 6

 7 Directly held 2857.1 3223.5 3081.6 4122.6 4847.1 6272.9 7120.0 9168.1 7762.6 6466.3 4853.7 6146.7 7

 8 Indirectly held 2030.1 2460.3 2598.6 3483.1 4321.4 5522.3 6617.3 8098.0 7576.8 6637.7 5190.8 6891.2 8

 9 Bank personal trusts and estates 268.7 262.0 263.6 365.2 439.3 555.1 599.2 698.6 645.5 527.0 385.0 469.7 9

10 Life insurance companies 113.3 163.5 199.6 274.7 373.3 510.5 665.4 904.4 882.8 806.5 692.5 887.3 10

11 Private pension funds 928.4 1096.1 1135.9 1490.4 1701.3 2053.5 2457.0 2805.5 2652.2 2282.3 1725.4 2282.8 11

12 Defined benefit plans 490.8 565.5 578.6 729.9 825.9 931.0 1056.7 1161.2 1047.6 884.7 671.5 899.0 12

13 Defined contribution plans 437.5 530.6 557.3 760.5 875.5 1122.5 1400.3 1644.2 1604.5 1397.6 1053.9 1383.8 13

14 State and local govt. retirement funds 431.7 506.2 521.7 703.5 846.6 1051.3 1188.1 1407.7 1223.1 1084.0 869.8 1084.4 14

15 Federal government retirement funds 2.4 4.4 6.2 11.5 18.8 29.9 44.9 59.1 59.1 51.4 48.5 79.9 15

16 Mutual funds 285.7 428.0 471.6 637.9 942.1 1322.0 1662.7 2222.7 2114.0 1886.5 1469.6 2087.0 16

17 Other 7369.5 7867.8 8267.3 8748.7 9295.5 9970.4 10619.2 11203.8 11921.7 12295.7 12869.4 13795.4 17

18 Liabilities 4139.9 4408.0 4735.4 5072.8 5429.9 5786.5 6253.5 6819.1 7402.3 7989.2 8680.4 9603.4 18

19 Net worth 22791.5 24046.2 24683.5 27555.7 30111.5 33880.7 37371.4 42291.9 41975.7 41111.6 39551.7 44516.0 19

 Memo:

20 Equity shares excluding defined benefit plans 3964.8 4612.1 4579.9 6172.3 7496.0 9812.9 11492.6 14697.2 13068.7 11135.2 8496.2 11036.7 20

 (line 6 minus lines 12, 14 and part of line 15)

 Equity shares (line 6) as a percent of

21 Total assets (line 1) 18.1 20.0 19.3 23.3 25.8 29.7 31.5 35.2 31.1 26.7 20.8 24.1 21

22 Financial assets (line 3) 28.5 31.0 29.9 35.2 38.1 42.9 45.1 49.5 45.3 40.5 33.5 38.0 22

(1) Estimates of equity shares (lines 7 through 16) 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.