108 Z.1, March 10, 2005

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 -4.3 1.3 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 7.3 12.5 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, March 10, 2005 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 35.8 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 95.1 103.7 108.2 120.7 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, March 10, 2005

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2000 2001 2002 2003 2004 2003 2004

 Q3 Q4 Q1 Q2 Q3 Q4

 1 Current receipts, NIPA basis 3126.0 3113.2 2954.8 3032.0 3193.1 2984.9 3089.3 3119.8 3181.2 3198.4 3273.1 1

 2 Personal current taxes 1235.7 1237.3 1051.2 1001.8 1038.9 941.7 1009.4 1006.6 1030.6 1048.9 1069.6 2

 3 Taxes on production and imports 708.9 728.6 762.6 798.1 840.0 802.0 813.9 823.2 835.7 843.1 858.1 3

 4 Taxes on corporate income 255.0 195.0 174.6 225.8 251.9 229.7 242.5 246.4 260.0 242.6 258.8 4

 5 Taxes from the rest of the world 7.3 7.2 7.1 8.1 8.9 7.8 7.9 8.6 8.3 8.2 10.5 5

 6 Contributions for govt. social insurance 702.7 731.2 748.3 773.3 820.2 776.7 785.0 803.9 814.0 826.9 836.0 6

 7 Income receipts on assets 117.5 113.7 102.0 104.0 106.2 104.9 107.3 105.1 104.9 106.4 108.4 7

 8 Current transfer receipts 93.7 101.8 106.3 111.5 120.3 112.7 114.6 117.9 120.3 115.8 127.0 8

 9 Current surplus of government enterprises 5.3 -1.4 2.8 9.5 6.7 9.3 8.7 8.1 7.4 6.5 4.7 9

10 Current expenditures, NIPA basis 2886.6 3061.6 3234.2 3399.7 3559.6 3411.4 3433.0 3499.1 3542.8 3568.9 3627.5 10

11 Consumption expenditures 1417.1 1501.6 1609.2 1717.1 1804.4 1724.0 1737.6 1770.9 1792.1 1818.5 1836.0 11

12 Government social benefits 1044.1 1146.6 1251.6 1309.2 1376.2 1320.2 1324.8 1352.5 1374.0 1375.4 1402.9 12

13 Other current transfer payments 18.3 14.0 18.8 23.7 26.3 23.6 20.8 33.7 23.0 22.4 25.9 13

14 Interest payments 362.8 344.1 316.4 303.0 312.3 299.0 305.4 303.1 312.8 312.9 320.4 14

15 Subsidies 44.3 55.3 38.2 46.8 40.5 44.6 44.4 40.4 39.4 39.7 42.3 15

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

17 Net government saving, NIPA basis 239.4 51.6 -279.5 -367.7 -366.5 -426.5 -343.7 -379.3 -361.6 -370.5 -354.4 17

18 + Consumption of fixed capital 197.0 206.0 211.2 218.1 229.1 219.0 220.4 222.6 227.1 231.1 235.5 18

19 - Insurance and pension fund reserves (2) 1.8 3.3 -1.7 -0.6 0.0 -2.7 8.5 1.3 -7.0 -1.3 7.0 19

20 + Net capital transfers (3) 35.6 35.7 28.8 11.6 13.1 11.8 12.3 13.8 12.5 15.4 10.8 20

21 = Gross saving and net capital transfers 470.3 290.0 -37.7 -137.4 -124.3 -193.0 -119.6 -144.1 -115.1 -122.7 -115.1 21

22 Gross investment 565.6 289.5 -36.9 -115.4 -133.8 -6.7 -64.8 -274.1 -153.6 -5.7 -101.8 22

23 Fixed investment 304.6 324.0 347.5 358.5 380.0 362.5 362.4 368.6 382.1 378.6 390.5 23

24 Nonproduced nonfinancial assets 8.5 8.6 10.0 9.7 10.1 13.4 9.3 10.0 9.3 11.9 9.0 24

25 Net financial investment 252.5 -43.0 -394.3 -483.6 -523.8 -382.6 -436.5 -652.7 -545.0 -396.2 -501.3 25

26 Net acquisition of financial assets 33.7 99.0 52.9 89.1 29.2 58.7 112.4 40.8 -5.3 45.4 36.0 26

27 Gold, SDRs, and official foreign exchange -0.6 4.6 3.4 -1.8 -3.0 2.2 -9.1 -2.5 -4.8 -2.0 -2.5 27

28 Checkable deposits and currency -64.1 46.2 -8.6 17.7 -36.0 36.4 58.5 -53.4 -8.1 -71.4 -11.3 28

29 Time and savings deposits 14.0 15.4 24.8 -15.6 23.9 -63.4 -18.1 6.3 11.4 12.6 65.3 29

30 Money market fund shares 6.5 19.7 2.3 -9.4 2.1 -18.5 -1.1 -5.1 4.0 3.4 6.2 30

31 Security RPs 8.2 -22.2 -4.9 8.0 5.7 6.3 11.3 16.0 7.9 6.7 -7.8 31

32 Credit market instruments 31.0 71.5 19.7 46.7 47.3 58.6 65.1 24.4 36.7 64.9 63.1 32

33 Open market paper 17.8 -13.5 5.7 10.5 14.0 8.2 14.7 5.8 10.4 8.7 30.9 33

34 Agency- and GSE-backed securities (4) 1.7 55.4 3.0 22.9 14.5 17.8 32.0 2.0 22.5 19.0 14.6 34

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

36 Corporate and foreign bonds -3.3 25.6 8.2 7.2 6.1 5.7 10.2 5.4 7.1 6.0 6.0 36

37 Mortgages 1.0 -3.1 -5.9 6.2 10.4 5.2 12.9 14.4 2.5 7.9 16.7 37

38 Consumer credit 16.1 13.1 12.7 1.3 4.3 24.8 -5.0 -0.9 -5.0 26.3 -3.3 38

39 Other loans and advances (5) -2.6 -6.2 -4.1 -1.6 -2.3 -3.4 -0.2 -2.5 -1.1 -3.3 -2.3 39

40 Corporate equities -1.2 22.8 7.9 -4.8 -4.8 -6.5 -9.8 -3.3 2.3 12.2 -30.5 40

41 Mutual fund shares 3.7 7.7 8.9 -6.2 -0.4 -11.9 -5.3 -1.0 0.7 3.7 -5.1 41

42 Trade receivables 5.3 7.3 -3.3 19.1 9.7 -0.9 14.8 21.2 13.8 -5.0 8.5 42

43 Taxes receivable -6.7 -7.0 -5.6 44.0 -2.0 33.6 39.8 31.5 -4.8 -11.0 -23.6 43

44 Miscellaneous assets 30.1 -72.0 6.8 -16.8 -21.5 16.5 -45.1 0.9 -72.7 24.4 -38.7 44

45 Net increase in liabilities -218.9 142.0 447.3 572.7 553.0 441.3 548.9 693.5 539.8 441.6 537.3 45

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

47 Treasury currency 2.4 1.3 1.0 0.6 0.7 0.1 -0.0 0.8 1.2 0.7 0.1 47

48 Credit market instruments -273.4 57.8 388.8 506.3 454.6 371.7 456.7 611.0 468.0 348.9 390.5 48

49 Savings bonds -1.7 5.6 4.5 8.9 0.6 9.8 6.8 3.5 1.7 -1.5 -1.3 49

50 Other Treasury securities (6) -287.2 -52.8 240.4 382.2 339.8 253.0 362.3 445.4 413.4 200.7 299.6 50

51 Budget agency securities -1.0 -0.5 0.5 -2.4 -1.0 0.1 -8.6 1.1 -3.6 -1.9 0.6 51

52 Municipal securities 16.5 105.5 143.4 117.5 115.2 108.9 96.3 161.0 56.6 151.6 91.7 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 31.8 28.6 29.9 34.1 46.4 32.4 37.1 40.3 39.5 37.4 68.4 54

55 Insurance reserves 1.4 1.4 1.6 1.1 1.1 0.5 2.2 -0.0 1.9 0.2 2.3 55

56 Miscellaneous liabilities (7) 22.9 53.0 26.0 30.7 50.3 36.5 52.9 41.5 29.2 54.4 76.0 56

57 Discrepancy -95.3 0.5 -0.8 -22.0 9.5 -186.3 -54.8 130.0 38.6 -117.0 -13.3 57

 Memo:

58 Net govt. saving less fixed investment (8) -65.1 -272.4 -626.9 -726.1 -746.4 -789.0 -706.1 -747.9 -743.7 -749.1 -744.9 58

59 Adjustment between NIPA and FOF (9) 317.7 229.3 242.2 252.8 222.0 410.8 267.7 94.9 197.8 352.1 243.2 59

60 Items to be financed (10) 252.5 -43.0 -384.7 -473.4 -524.4 -378.2 -438.4 -653.0 -545.9 -397.0 -501.7 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, March 10, 2005 111

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

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

2000 2001 2002 2003 2004 2003 2004

 Q3 Q4 Q1 Q2 Q3 Q4

 1 Total financial assets 1891.1 2023.0 2045.2 2189.7 2255.9 2156.1 2189.7 2206.6 2234.1 2245.1 2255.9 1

 2 Gold, SDRs, and official foreign exchange 41.0 43.1 51.1 55.1 54.5 54.8 55.1 54.3 52.3 52.0 54.5 2

 3 Checkable deposits and currency 57.4 105.1 94.3 109.3 72.1 102.1 109.3 74.8 95.4 82.6 72.1 3

 4 Time and savings deposits 125.1 140.4 165.2 149.6 173.5 153.0 149.6 150.8 153.6 155.9 173.5 4

 5 Money market fund shares 34.1 53.7 56.0 46.6 48.7 46.9 46.6 45.3 46.4 47.2 48.7 5

 6 Security RPs 159.8 137.6 132.7 140.7 146.4 137.9 140.7 144.7 146.7 148.4 146.4 6

 7 Credit market instruments 789.3 860.8 880.5 927.2 974.5 910.9 927.2 933.3 942.5 958.7 974.5 7

 8 Open market paper 121.2 107.6 113.3 123.8 137.8 120.1 123.8 125.3 127.9 130.1 137.8 8

 9 Agency- and GSE-backed securities (1) 198.1 253.5 256.5 279.3 293.9 271.3 279.3 279.8 285.5 290.2 293.9 9

10 Municipal securities 3.8 4.0 4.1 4.4 4.7 4.3 4.4 4.4 4.5 4.6 4.7 10

11 Corporate and foreign bonds 70.0 95.6 103.8 111.1 117.2 108.5 111.1 112.4 114.2 115.7 117.2 11

12 Mortgages 209.3 206.1 200.3 206.4 216.8 203.2 206.4 210.1 210.7 212.7 216.8 12

13 Consumer credit 67.0 80.1 92.8 94.1 98.4 95.3 94.1 93.9 92.6 99.2 98.4 13

14 Other loans and advances (2) 119.9 113.8 109.7 108.1 105.7 108.1 108.1 107.4 107.1 106.3 105.7 14

15 Corporate equities 97.1 100.7 80.3 84.5 89.1 82.6 84.5 85.5 86.9 88.0 89.1 15

16 Mutual fund shares 21.2 24.3 24.2 25.6 28.3 23.3 25.6 26.2 26.6 26.9 28.3 16

17 Trade receivables 28.1 35.5 32.2 51.3 60.9 48.4 51.3 57.6 61.0 59.6 60.9 17

18 Taxes receivable 84.7 125.9 120.8 176.3 176.8 172.9 176.3 201.8 188.4 190.3 176.8 18

19 Miscellaneous assets 341.8 279.5 290.0 297.1 296.4 299.7 297.1 304.3 304.6 304.0 296.4 19

20 Total liabilities 5749.5 5899.2 6346.7 6921.8 7473.6 6741.1 6921.8 7090.7 7172.6 7300.8 7473.6 20

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

22 Treasury currency 23.2 24.5 25.5 26.0 26.7 26.0 26.0 26.2 26.5 26.7 26.7 22

23 Credit market instruments 4271.5 4329.3 4718.1 5224.3 5678.9 5079.0 5224.3 5392.3 5452.7 5554.3 5678.9 23

24 Savings bonds 184.8 190.3 194.9 203.8 204.4 201.5 203.8 204.4 204.6 204.1 204.4 24

25 Other Treasury securities (3) 2875.8 2823.0 3063.3 3445.6 3785.3 3330.4 3445.6 3573.9 3606.2 3690.8 3785.3 25

26 Budget agency securities 27.3 26.8 27.3 24.9 23.9 27.0 24.9 25.1 24.2 23.7 23.9 26

27 Municipal securities 1183.6 1289.2 1432.6 1550.1 1665.3 1520.1 1550.1 1588.9 1617.8 1635.6 1665.3 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 704.9 733.5 763.4 797.5 843.9 791.6 797.5 809.6 820.5 830.2 843.9 29

30 Insurance reserves 36.4 37.8 39.4 40.5 41.6 39.9 40.5 40.5 40.9 41.0 41.6 30

31 Miscellaneous liabilities (4) 711.3 772.0 798.2 831.3 880.3 802.3 831.3 819.8 829.8 846.5 880.3 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, March 10, 2005

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

Billions of dollars

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 11.8 47.8 45.2 -27.2 -40.6 -47.0 -49.3 -88.5 -103.6 -90.9 -55.5 -16.2 -22.7 1

 2 Checkable deposits and currency 0.0 -0.0 0.8 0.3 0.2 0.4 0.6 0.2 1.2 0.2 0.2 0.1 0.1 2

 3 Time and savings deposits -9.1 6.4 13.1 4.8 10.8 13.3 15.1 -9.3 17.4 6.2 4.1 1.7 1.7 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 -1.1 -0.0 -4.2 -0.2 3.2 0.3 0.6 2.0 -2.5 0.8 0.5 0.2 0.2 5

 6 Credit market instruments 17.1 22.9 35.6 24.1 -8.9 39.7 -20.1 84.6 -88.2 5.3 16.3 13.3 25.3 6

 7 Open market paper -1.1 -0.0 -4.2 -0.2 3.2 0.3 0.6 2.0 -2.5 0.8 0.5 0.2 0.2 7

 8 Treasury securities -11.0 -5.6 10.1 2.0 -4.6 3.7 -20.2 4.1 -8.4 0.6 1.9 1.6 2.8 8

 9 Agency- and GSE-backed securities 11.5 15.9 30.7 4.7 -10.8 8.6 -16.7 32.0 -26.6 1.8 6.1 5.1 10.0 9

10 Corporate and foreign bonds 20.8 14.0 2.7 17.4 3.1 26.5 16.4 46.5 -49.9 2.3 7.8 6.5 12.4 10

11 Mortgages -3.1 -1.4 -3.7 0.2 0.1 0.6 -0.3 0.1 -0.8 -0.0 0.0 -0.1 -0.1 11

12 Corporate equities 8.7 6.8 -3.8 -51.1 -55.3 -100.9 -54.6 -154.6 -65.7 -124.0 -90.0 -43.3 -36.3 12

13 Mutual fund shares 2.3 4.4 3.7 1.9 -2.2 1.3 3.3 -4.5 34.4 15.6 10.0 18.2 -6.2 13

14 Miscellaneous assets -6.1 7.3 0.1 -6.9 11.7 -1.2 5.9 -7.0 -0.2 4.9 3.5 -6.4 -7.6 14

15 Unallocated insurance contracts (1) -5.0 -0.6 -5.1 -6.0 2.3 -5.6 -3.8 -14.4 -4.6 5.1 3.2 -4.6 -5.3 15

16 Contributions receivable 5.6 7.4 6.2 -0.3 -0.3 3.5 8.0 2.7 11.8 -0.1 0.1 -1.1 -1.4 16

17 Other -6.7 0.6 -1.0 -0.6 9.7 0.9 1.8 4.8 -7.4 -0.1 0.1 -0.7 -0.9 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 52.4 51.4 40.4 53.4 38.7 29.4 33.4 12.9 9.7 16.3 17.2 22.4 20.0 1

 2 Checkable deposits and currency -0.1 0.2 0.1 0.4 0.4 0.8 -1.5 1.0 1.3 0.2 0.2 0.1 0.0 2

 3 Time and savings deposits -8.0 -9.9 -6.3 -0.2 -5.5 -5.8 13.3 -19.6 0.2 0.9 0.5 0.7 0.1 3

 4 Money market fund shares 1.0 6.5 5.3 6.0 10.8 13.1 1.9 11.7 1.7 3.8 2.3 1.5 0.8 4

 5 Security RPs 1.3 0.9 -2.0 0.2 1.3 0.6 0.6 1.7 0.1 0.7 0.5 0.3 0.1 5

 6 Credit market instruments 8.8 13.3 4.1 -7.6 2.4 6.1 -5.9 14.7 -8.2 8.0 9.4 0.9 9.4 6

 7 Open market paper 0.9 0.7 -2.0 0.7 2.4 0.9 2.5 5.0 -2.6 0.2 2.1 -2.4 -0.0 7

 8 Treasury securities 2.6 1.2 6.7 -2.5 -0.2 -1.2 -13.0 -1.8 1.2 -0.3 2.7 -0.2 3.4 8

 9 Agency- and GSE-backed securities -0.9 -1.8 10.2 -2.0 0.2 -0.9 0.1 6.3 0.9 5.7 -0.4 1.8 3.1 9

10 Corporate and foreign bonds 6.9 13.2 -9.3 -4.3 -0.5 7.2 4.5 3.6 -7.8 2.4 4.9 1.7 3.1 10

11 Mortgages -0.6 -0.2 -1.4 0.5 0.5 0.1 -0.0 1.6 0.0 0.1 -0.0 -0.0 -0.1 11

12 Corporate equities 27.6 13.4 4.1 -21.0 -20.4 -41.3 24.1 -105.7 -17.0 -5.8 -31.4 -1.5 -8.8 12

13 Mutual fund shares 13.0 22.4 20.1 43.1 25.3 41.4 -6.8 107.1 49.6 2.3 40.4 33.4 32.0 13

14 Miscellaneous assets 8.8 4.6 15.0 32.6 24.2 14.7 7.8 2.1 -17.9 6.3 -4.7 -13.1 -13.7 14

15 Unallocated insurance contracts (2) 10.6 12.9 8.9 23.7 12.2 4.6 -11.0 4.5 -19.6 5.1 -7.8 -12.5 -11.3 15

16 Contributions receivable 4.4 4.9 5.5 4.4 4.3 3.6 13.4 -10.3 2.2 0.7 -0.0 -0.3 -1.0 16

17 Other -6.2 -13.2 0.6 4.5 7.7 6.5 5.5 7.9 -0.5 0.5 3.2 -0.3 -1.4 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: 82.9 86.7 85.6 122.2 132.8 151.8 191.5 219.7 239.8 182.9 204.1 203.8 NA 1

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

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

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

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

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

 7 Mutual funds 38.0 59.7 11.6 63.9 49.7 91.1 88.7 93.8 48.4 33.1 16.7 111.4 NA 7

 8 Other self-directed accounts 44.9 21.7 54.5 28.4 61.3 14.9 58.6 69.6 160.9 100.7 84.1 62.4 NA 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, March 10, 2005 113

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

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

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1079.9 1195.1 1276.0 1460.5 1579.0 1746.8 1885.4 2071.7 1914.0 1685.5 1409.2 1680.0 1810.6 1

 2 Checkable deposits and currency 1.0 1.0 1.8 2.1 2.2 2.6 3.2 3.4 4.7 4.9 5.1 5.1 5.2 2

 3 Time and savings deposits 47.6 54.1 67.1 71.9 82.7 96.0 111.1 101.7 119.1 125.3 129.4 131.1 132.9 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 15.8 15.8 11.6 11.4 14.6 14.9 15.5 17.5 15.0 15.8 16.3 16.5 16.7 5

 6 Credit market instruments 379.8 402.7 438.3 462.4 453.5 493.1 473.0 557.6 469.5 474.8 491.1 504.5 529.8 6

 7 Open market paper 15.8 15.8 11.6 11.4 14.6 14.9 15.5 17.5 15.0 15.8 16.3 16.5 16.7 7

 8 Treasury securities 73.7 68.1 78.2 80.2 75.6 79.3 59.1 63.2 54.8 55.4 57.3 58.9 61.7 8

 9 Agency- and GSE-backed securities 135.8 151.7 182.4 187.1 176.4 185.0 168.3 200.2 173.6 175.4 181.5 186.6 196.6 9

10 Corporate and foreign bonds 144.7 158.7 161.4 178.8 181.9 208.4 224.8 271.3 221.5 223.7 231.5 238.0 250.4 10

11 Mortgages 9.9 8.5 4.7 4.9 5.0 5.6 5.3 5.3 4.6 4.6 4.6 4.5 4.4 11

12 Corporate equities 484.5 555.6 559.9 699.6 785.8 876.0 986.6 1069.9 958.7 723.8 456.6 643.0 719.9 12

13 Mutual fund shares 15.6 22.3 39.0 54.8 63.8 81.4 101.0 122.8 150.3 148.5 130.8 185.0 206.0 13

14 Miscellaneous assets 135.5 143.5 158.2 158.3 176.4 182.6 194.9 198.7 196.9 192.3 179.9 194.8 200.1 14

15 Unallocated insurance contracts (1) 69.6 69.7 79.2 80.3 88.9 90.7 93.3 89.6 83.4 79.0 66.4 83.1 90.7 15

16 Contributions receivable 30.7 38.0 44.2 43.9 43.6 47.1 55.1 57.8 69.6 69.5 69.6 68.5 67.1 16

17 Other 35.2 35.8 34.8 34.2 43.9 44.8 46.6 51.4 43.9 43.9 43.9 43.2 42.3 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 956.1 1087.9 1157.9 1428.3 1627.7 1942.5 2219.4 2499.6 2441.0 2230.8 1900.0 2345.4 2633.9 1

 2 Checkable deposits and currency 2.0 2.2 2.3 2.7 3.1 4.0 2.5 3.5 4.8 5.0 5.2 5.2 5.3 2

 3 Time and savings deposits 51.1 41.3 35.0 34.7 29.3 23.4 36.7 17.0 17.3 18.2 18.6 19.3 19.4 3

 4 Money market fund shares 19.8 26.3 31.6 37.5 48.4 61.4 63.4 75.1 76.7 80.5 82.8 84.4 85.1 4

 5 Security RPs 11.6 12.6 10.6 10.7 12.1 12.7 13.2 14.9 15.0 15.8 16.2 16.5 16.7 5

 6 Credit market instruments 135.8 149.0 153.1 145.5 147.9 154.0 148.1 162.7 154.5 162.5 171.9 172.8 182.2 6

 7 Open market paper 13.6 14.3 12.3 13.0 15.4 16.3 18.8 23.8 21.2 21.4 23.6 21.2 21.1 7

 8 Treasury securities 35.0 36.3 43.0 40.5 40.2 39.0 26.0 24.2 25.4 25.1 27.8 27.6 31.0 8

 9 Agency- and GSE-backed securities 20.7 18.9 29.1 27.1 27.3 26.4 26.5 32.8 33.7 39.3 39.0 40.7 43.8 9

10 Corporate and foreign bonds 61.8 75.0 65.7 61.4 61.0 68.1 72.7 76.2 68.5 70.9 75.8 77.5 80.6 10

11 Mortgages 4.7 4.5 3.1 3.6 4.0 4.1 4.1 5.7 5.7 5.8 5.8 5.8 5.6 11

12 Corporate equities 389.2 458.7 453.8 578.3 659.4 790.6 961.2 1011.4 956.3 838.3 640.1 848.9 970.1 12

13 Mutual fund shares 80.6 119.9 166.9 272.0 348.5 488.2 567.1 774.8 796.0 713.5 621.3 808.7 967.7 13

14 Miscellaneous assets 266.1 278.0 304.7 346.8 379.1 408.3 427.2 440.2 420.4 397.1 343.9 389.6 387.4 14

15 Unallocated insurance contracts (2) 178.0 198.2 218.7 252.0 272.2 291.3 291.3 306.8 285.2 260.7 204.3 250.6 250.8 15

16 Contributions receivable 23.7 28.6 34.1 38.5 42.8 46.4 59.8 49.5 51.7 52.4 52.4 52.2 51.1 16

17 Other 64.4 51.3 51.9 56.4 64.1 70.6 76.1 83.9 83.4 84.0 87.1 86.8 85.4 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: 873.0 993.0 1056.0 1288.0 1467.0 1728.0 2150.0 2651.0 2629.0 2619.0 2445.0 3007.0 NA 1

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

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

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

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

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

 7 Mutual funds 187.2 264.1 275.9 382.3 484.0 654.0 818.0 1078.0 1045.0 960.0 819.0 1094.0 NA 7

 8 Other self-directed accounts 312.6 349.2 384.8 476.1 525.9 569.0 777.3 947.5 947.4 994.4 883.0 1117.0 NA 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, March 10, 2005 Flow of Funds Matrix for 2004

(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 U S U S U S U S U S 

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

 1 Gross saving and net cap. transfers -- 1219.3 -- 1215.1 -- 200.8 -- -325.1 -- 2310.1 -- 642.6 -- 208.2  2 Capital consumption -- 892.2 -- 879.9 -- 136.0 -- 93.1 -- 2001.2 -- -- -- 78.3  3 Net saving (1 less 2) -- 341.5 -- 335.2 -- 64.8 -- -418.1 -- 323.4 -- 642.6 -- 129.9  4 Gross investment (5 plus 11) 1233.2 -- 1263.3 -- 228.1 -- -361.9 -- 2362.7 -- 630.8 -- -37.3 --  5 Capital expenditures 1568.6 -- 1134.3 -- 284.5 -- 105.5 -- 3092.9 -- 0.1 -- 126.8 --  6 Consumer durables 912.9 -- -- -- -- -- -- -- 912.9 -- -- -- -- --  7 Residential 560.5 -- 93.8 -- -- -- -- -- 654.2 -- -- -- 8.1 --  8 Nonresidential 95.2 -- 1006.3 -- 274.5 -- 105.5 -- 1481.4 -- -- -- 118.8 --  9 Inventory change -- -- 44.4 -- -- -- -- -- 44.4 -- -- -- -- -- 10 Nonproduced nonfinancial assets -- -- -10.1 -- 10.1 -- -0.0 -- -0.1 -- 0.1 -- -- -- 11 Net financial investment -335.4 -- 129.0 -- -56.4 -- -467.4 -- -730.2 -- 630.7 -- -164.2 -- 12 Financial uses 773.7 -- 700.7 -- 91.2 -- -38.5 -- 1518.6 -- 1190.1 -- 2585.3 -- 13 Financial sources -- 1109.0 -- 571.7 -- 147.6 -- 428.9 -- 2257.2 -- 559.4 -- 2753.7 14 Gold and off. fgn. exchange -- -- -- -- -- -- -3.0 -- -3.0 -- -0.4 -3.0 0.3 -- 15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 -- -- 0.0 -- 16 Treasury currency -- -- -- -- -- -- -- 0.7 -- 0.7 -- -- 1.0 -- 17 Foreign deposits 36.3 -- 3.1 -- -- -- -- -- 39.4 -- -- 77.5 1.2 -- 18 Interbank claims -- -- -- -- -- -- -- -- -- -- -73.3 -- -4.2 -63.0 19 Checkable dep. and currency 83.3 -- 7.1 -- -5.1 -- -31.0 -- 54.4 -- 50.6 -- 13.5 149.2 20 Time and savings deposits 388.3 -- 40.4 -- 23.9 -- -0.0 -- 452.6 -- 28.5 -- 13.6 494.6 21 Money market fund shares -91.3 -- -14.6 -- 2.1 -- -- -- -103.8 -- -- -- -32.4 -136.2 22 Fed. funds and security RPs -- -- 0.1 -- 5.7 -- -- -- 5.8 -- 186.5 -- 2.6 83.9 23 Credit market instruments 28.0 1017.9 40.0 420.5 66.9 115.4 3.8 362.6 138.7 1916.4 806.5 64.7 1838.1 802.2 24 Open market paper 31.9 -- 1.5 15.8 14.0 -- -- -- 47.4 15.8 20.6 63.7 45.7 34.2 25 Treasury securities 2.8 -- 18.5 -- 23.2 -- -- 363.6 44.6 363.6 371.1 -- -52.1 -- 26 Agency- and GSE-backed sec. -20.3 -- 9.3 -- 14.5 -- 0.0 -1.0 3.4 -1.0 132.7 -- 15.8 152.9 27 Municipal securities 44.9 9.9 4.9 5.3 0.3 115.2 -- -- 50.1 130.4 -- -- 80.3 -- 28 Corporate and fgn. bonds -43.6 -- -- 78.1 6.1 -- -- -- -37.5 78.1 275.9 1.7 353.5 512.29 Bank loans n.e.c. -- 3.5 -- 27.2 -- -- -- -- -- 30.7 -- 2.5 46.0 12.8 30 Other loans and advances -- 0.5 -- 32.9 -- 0.2 -2.1 -- -2.1 33.6 6.3 -3.2 100.8 74.6 31 Mortgages 12.4 902.8 2.2 261.3 8.8 -- 1.6 0.0 25.0 1164.0 -- -- 1154.7 15.6 32 Consumer credit -- 101.3 3.6 -- -- -- 4.3 -- 7.9 101.3 -- -- 93.4 -- 33 Corporate equities -274.7 -- -- -210.0 -4.8 -- -- -- -279.5 -210.0 33.2 107.3 262.7 119.34 Mutual fund shares 280.2 -- -4.6 -- -0.4 -- -- -- 275.2 -- -- -- 18.9 294.35 Trade credit -- 9.0 245.4 220.7 8.4 32.2 9.7 14.2 263.5 276.1 -2.7 -6.7 22.9 7.8 36 Security credit 96.3 80.9 -- -- -- -- -- -- 96.3 80.9 0.0 0.0 63.1 78.5 37 Life insurance reserves 78.6 -- -- -- -- -- -- 1.1 78.6 1.1 -- -- -- 77.5 38 Pension fund reserves 193.9 -- -- -- -- -- -- -- 193.9 -- -- -- -- 193.9 39 Taxes payable -- -- -- 9.9 17.0 -- -19.0 -- -2.0 9.9 -- -- -- 13.4 40 Inv. in bank personal trusts -23.5 -- -- -- -- -- -- -- -23.5 -- -- -- -- -23.5 41 Equity in noncorp. business -60.8 -- -- -57.2 -- -- -- -- -60.8 -57.2 -- -- -- -3.5 42 Miscellaneous 39.1 1.3 383.6 187.8 -22.5 -- 1.0 50.3 401.2 239.4 161.2 319.6 388.0 665.7 43 Sector discrepancies (1 less 4) -14.0 -- -48.2 -- -27.3 -- 36.9 -- -52.6 -- 11.8 -- 245.6 -- 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, March 10, 2005 Flow of Funds Matrix for 2004

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

Households State Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Rest of Fi

Organizations Business Governments Government Sectors the World S

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

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) 

 1 Total financial assets 36758.5 -- 13139.2 -- 2033.0 -- 614.8 -- 52545.5 -- 9288.1 -- 47349.0  2 Total liabilities and equity -- 10706.5 -- 30980.5 -- 2427.5 -- 5438.0 -- 49552.5 -- 6539.5 --  3 Total liabilities -- 10706.5 -- 14213.0 -- 2427.5 -- 5438.0 -- 32785.0 -- 4116.0 --  4 Monetary gold and SDRs -- -- -- -- -- -- 13.6 -- 13.6 -- -- -- 11.0  5 IMF Position -- -- -- -- -- -- 19.6 -- 19.6 -- -- 19.5 -0.1  6 Official foreign exchange -- -- -- -- -- -- 21.4 -- 21.4 -- -- 42.7 21.4  7 SDR certificates -- -- -- -- -- -- -- 2.2 -- 2.2 -- -- 2.2  8 Treasury currency -- -- -- -- -- -- -- 26.7 -- 26.7 -- -- 36.5  9 Foreign deposits 101.4 -- 44.3 -- -- -- -- -- 145.7 -- -- 908.6 75.4 10 Interbank claims -- -- -- -- -- -- -- -- -- -- 46.9 -- 66.5 11 Checkable dep. and currency 407.6 -- 716.9 -- 50.1 -- 21.9 -- 1196.5 -- 401.9 -- 296.6 12 Time and savings deposits 4291.1 -- 376.0 -- 171.1 -- 2.4 -- 4840.7 -- 153.3 -- 387.2 13 Money market fund shares 893.7 -- 329.5 -- 48.7 -- -- -- 1271.9 -- -- -- 607.9 14 Fed. funds and security RPs -- -- 6.0 -- 146.4 -- -- -- 152.4 -- 646.7 -- 611.8 15 Credit market instruments 2265.0 10264.2 429.1 7845.7 1077.0 1675.2 289.4 4395.7 4060.4 24180.7 4704.6 714.5 28146.4 16 Open market paper 126.8 -- 81.2 101.7 137.8 -- -- -- 345.7 101.7 128.3 228.7 932.8 17 Treasury securities 468.0 -- 114.3 -- 382.1 -- -- 4371.8 964.4 4371.8 1870.3 -- 1537.1 18 Agency- and GSE-backed sec. 349.3 -- 34.3 -- 293.9 -- 0.0 23.9 677.5 23.9 799.4 -- 4783.1 19 Municipal securities 661.7 193.7 47.7 169.5 4.7 1665.3 -- -- 714.1 2028.6 -- -- 1314.5 20 Corporate and fgn. bonds 497.8 -- -- 2947.4 117.2 -- -- -- 615.0 2947.4 1775.5 383.6 4836.8 21 Bank loans n.e.c. -- 97.4 -- 1063.9 -- -- -- -- -- 1161.3 -- 63.4 1338.3 22 Other loans and advances -- 119.7 -- 875.3 -- 9.9 115.6 -- 115.6 1004.9 131.2 38.8 1373.1 23 Mortgages 161.4 7701.9 77.7 2687.8 141.4 -- 75.4 0.0 455.9 10389.7 -- -- 10051.6 24 Consumer credit -- 2151.4 73.9 -- -- -- 98.4 -- 172.3 2151.4 -- -- 1979.2 25 Corporate equities 6521.6 -- -- 10843.5 89.1 -- -- -- 6610.7 10843.5 1906.1 2423.5 8687.6 26 Mutual fund shares 3570.4 -- 128.9 -- 28.3 -- -- -- 3727.7 -- -- -- 1707.6 27 Trade credit -- 156.7 2504.6 2136.9 134.7 752.3 60.9 91.5 2700.2 3137.5 46.0 40.8 393.0 28 Security credit 571.6 263.4 -- -- -- -- -- -- 571.6 263.4 0.0 0.0 459.1 29 Life insurance reserves 1108.8 -- -- -- -- -- -- 41.6 1108.8 41.6 -- -- -- 30 Pension fund reserves 9637.8 -- -- -- -- -- -- -- 9637.8 -- -- -- -- 31 Taxes payable -- -- -- 174.2 93.9 -- 82.9 -- 176.8 174.2 -- -- -- 32 Inv. in bank personal trusts 958.6 -- -- -- -- -- -- -- 958.6 -- -- -- -- 33 Equity in noncorp. business 5929.9 -- -- 5924.1 -- -- -- -- 5929.9 5924.1 -- -- -- 34 Miscellaneous 501.0 22.2 8604.0 4056.1 193.5 -- 102.9 880.3 9401.4 4958.7 1382.6 2389.8 5838.7 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, March 10, 2005

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

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 28595.9 29575.9 32781.2 35725.6 39825.3 43775.3 49271.4 49481.3 49245.3 48294.6 54165.2 59231.9 1

 2 Tangible assets 10310.8 10644.5 11252.4 11735.7 12401.1 13413.7 14503.4 15802.6 17034.6 18428.1 20073.1 22473.4 2

 3 Financial assets 18285.1 18931.3 21528.8 23989.9 27424.3 30361.6 34768.0 33678.7 32210.7 29866.6 34092.1 36758.5 3

 4 Deposits 3155.8 3109.3 3297.8 3440.5 3615.4 3853.6 4031.8 4339.5 4800.7 5071.8 5251.8 5693.8 4

 5 Credit market instruments 1649.8 1944.7 1954.6 2152.3 2139.0 2263.8 2397.8 2336.5 2176.4 2074.8 2242.1 2265.0 5

 6 Equity shares at market value 5683.8 5680.2 7605.7 9168.5 11795.2 13737.3 17266.1 15342.6 13106.9 10051.2 13051.1 14278.0 6

 7 Directly held 3223.5 3081.6 4122.6 4847.1 6272.8 7122.0 9170.3 7806.2 6604.2 5047.8 6375.8 6521.6 7

 8 Indirectly held 2460.3 2598.6 3483.1 4321.4 5522.4 6615.3 8095.8 7536.4 6502.8 5003.5 6675.2 7756.5 8

 9 Bank personal trusts and estates 262.0 263.6 365.2 439.3 555.1 599.2 698.6 645.5 527.0 385.0 469.7 504.5 9

10 Life insurance companies 163.5 199.6 274.7 373.3 510.5 665.4 904.4 882.8 806.5 692.5 887.3 1056.2 10

11 Private pension funds 1096.1 1135.9 1490.4 1701.3 2053.5 2457.0 2805.5 2667.1 2208.1 1611.3 2180.7 2463.1 11

12 Defined benefit plans 565.5 578.6 729.9 825.9 931.0 1056.7 1161.2 1068.0 825.7 535.3 764.3 860.0 12

13 Defined contribution plans 530.6 557.3 760.5 875.5 1122.5 1400.3 1644.2 1599.0 1382.4 1076.0 1416.4 1603.1 13

14 State and local govt. retirement funds 506.2 521.7 703.5 846.6 1051.3 1188.1 1407.7 1223.1 1084.0 869.8 1084.4 1204.7 14

15 Federal government retirement funds 4.4 6.2 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.9 79.9 99.3 15

16 Mutual funds 428.0 471.6 637.9 942.1 1322.0 1662.7 2222.7 2061.3 1828.1 1399.0 1973.2 2428.7 16

17 Other 7795.6 8197.2 8670.8 9228.6 9874.7 10506.8 11072.3 11660.1 12126.7 12668.7 13547.1 14521.7 17

18 Liabilities 4407.0 4734.0 5071.3 5428.1 5785.5 6251.5 6826.6 7407.4 7987.1 8676.9 9582.7 10706.5 18

19 Net worth 24188.9 24841.8 27709.9 30297.5 34039.9 37523.7 42444.8 42073.9 41258.3 39617.7 44582.6 48525.4 19

 Memo:

20 Equity shares excluding defined benefit plans 4612.1 4579.9 6172.3 7496.0 9812.9 11492.6 14697.2 13051.5 11197.2 8639.3 11184.5 12194.1 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) 19.9 19.2 23.2 25.7 29.6 31.4 35.0 31.0 26.6 20.8 24.1 24.1 21

22 Financial assets (line 3) 31.1 30.0 35.3 38.2 43.0 45.2 49.7 45.6 40.7 33.7 38.3 38.8 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.