December 9, 2004

Flow of Funds Accounts

of the United States

Annual Flows and Outstandings

1965-1974

Board of Governors of the Federal Reserve System, Washington D.C. 20551
Table of Contents

Flows Levels

Title Table Page Table Page

Summaries

Total Net Borrowing and Lending in Credit Markets F.1 1 L.1 50

Credit Market Borrowing by Nonfinancial Sectors F.2 2 L.2 51

Credit Market Borrowing by Financial Sectors F.3 2 L.3 51

Credit Market Borrowing, All Sectors, by Instrument F.4 3 L.4 52

Total Liabilities and Its Relation to Total Financial Assets F.5 3 L.5 52

Distribution of Gross Domestic Product F.6 4

Distribution of National Income F.7 5

Saving and Investment F.8 6

Net Capital Transfers F.9 6

Derivation of Measures of Personal Saving F.10 7 L.10 53

Sectors

Households and Nonprofit Organizations F.100 8 L.100 54

Nonfinancial Business F.101 9 L.101 55

Nonfarm Nonfinancial Corporate Business F.102 10 L.102 56

Nonfarm Noncorporate Business F.103 11 L.103 57

Farm Business F.104 11 L.104 57

State and Local Governments F.105 12 L.105 58

Federal Government F.106 13 L.106 58
Flows Levels

Title Table Page Table Page

Rest of the World F.107 14 L.107 59

Monetary Authority F.108 15 L.108 60

Commercial Banking F.109 16 L.109 61

U.S.-Chartered Commercial Banks F.110 17 L.110 62

Foreign Banking Offices in U.S. F.111 18 L.111 63

Bank Holding Companies F.112 19 L.112 64

Banks in U.S.-Affiliated Areas F.113 19 L.113 64

Savings Institutions F.114 20 L.114 65

Credit Unions F.115 21 L.115 66

Bank Personal Trusts and Estates F.116 21 L.116 66

Life Insurance Companies F.117 22 L.117 67

Other Insurance Companies F.118 22 L.118 67

Private Pension Funds F.119 23 L.119 68

State and Local Government Employee Retirement Funds F.120 23 L.120 68

Federal Government Retirement Funds F.121 23 L.121 68

Money Market Mutual Funds F.122 24 L.122 69

Mutual Funds F.123 24 L.123 69

Closed-End and Exchange-Traded Funds F.124 24 L.124 69

Government-Sponsored Enterprises F.125 25 L.125 70

Agency- and GSE-backed Related Mortgage Pools F.126 25 L.126 70

Issuers of Asset-Backed Securities F.127 26 L.127 71

Finance Companies F.128 26 L.128 71

Mortgage Companies F.129 27 L.129 72

Real Estate Investment Trusts F.130 27 L.130 72

Security Brokers and Dealers F.131 28 L.131 73

Funding Corporations F.132 28 L.132 73
Flows Levels

Title Table Page Table Page

Instruments

Gold and Official Foreign Exchange Holdings F.200 29 L.200 74

SDR Certificates and Treasury Currency F.201 29 L.201 74

U.S. Deposits in Foreign Countries F.202 29 L.202 74

Net Interbank Transactions F.203 30 L.203 75

Checkable Deposits and Currency F.204 31 L.204 76

Time and Savings Deposits F.205 32 L.205 77

Money Market Mutual Fund Shares F.206 32 L.206 77

Federal Funds and Security Repurchase Agreements F.207 33 L.207 78

Open Market Paper F.208 33 L.208 78

Treasury Securities F.209 34 L.209 79

Agency- and GSE-backed Securities F.210 35 L.210 80

Municipal Securities and Loans F.211 36 L.211 81

Corporate and Foreign Bonds F.212 36 L.212 81

Corporate Equities F.213 37 L.213 82

Mutual Fund Shares F.214 37 L.214 82

Bank Loans Not Elsewhere Classified F.215 38 L.215 83

Other Loans and Advances F.216 39 L.216 84

Total Mortgages F.217 40 L.217 85

Home Mortgages F.218 41 L.218 86

Multifamily Residential Mortgages F.219 41 L.219 86

Commercial Mortgages F.220 42 L.220 87

Farm Mortgages F.221 42 L.221 87

Consumer Credit F.222 43 L.222 88
Flows Levels

Title Table Page Table Page

Trade Credit F.223 43 L.223 88

Security Credit F.224 43 L.224 88

Life Insurance and Pension Fund Reserves F.225 44 L.225 89

Taxes Payable by Businesses F.226 44 L.226 89

Investment in Bank Personal Trusts F.227 44 L.227 89

Proprietors' Equity in Noncorporate Business F.228 44

Total Miscellaneous Financial Claims F.229 45 L.229 90

Identified Miscellaneous Financial Claims - Part I F.230 46 L.230 91

Identified Miscellaneous Financial Claims - Part II F.231 47 L.231 92

Unidentified Miscellaneous Financial Claims F.232 48 L.232 93

Sector Discrepancies F.11 49

Instrument Discrepancies F.12 49

Balance Reconciliation

Sheet

Title Table Page Table Page

Balance Sheet, Reconciliation, and

Supplementary Tables

Households and Nonprofit Organization B.100 94 R.100 97

Nonfarm Nonfinancial Corporate Business B.102 95 R.102 98

Nonfarm Noncorporate Business B.103 96 R.103 99

Consolidated Statement for Federal, State, and Local Governments F.106.c 100 L.106.c 101

Private Pension Funds: Defined Benefit Plans F.119.b 102 L.119.b 103

Private Pension Funds: Defined Contribution Plans F.119.c 102 L.119.c 103

Individual Retirement Accounts (IRAs) F.225.i 102 L.225.i 103

Balance Sheet of Households and Nonprofit Organizations

with Equity Detail B.100.e 104
FFA, 1965-1974, Z.1, December 9, 2004 1

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total net borrowing 78.6 80.2 80.8 105.7 119.8 110.3 151.5 184.4 237.3 238.9 1

 2 Domestic nonfinancial sectors 67.1 67.3 78.2 90.5 89.0 91.3 135.4 156.0 184.0 175.5 2

 3 Federal government 1.6 3.6 12.9 12.5 -3.2 12.1 24.9 15.0 6.9 11.9 3

 4 Nonfederal sectors 65.5 63.7 65.2 78.0 92.2 79.3 110.5 141.0 177.0 163.6 4

 5 Household sector 28.5 22.2 20.4 31.3 31.9 19.5 42.3 56.9 69.5 55.7 5

 6 Nonfinancial corporate business 20.0 24.7 27.0 26.8 32.6 41.1 28.1 38.5 75.0 56.6 6

 7 Nonfarm noncorporate business 6.2 6.7 7.2 8.4 12.5 4.0 19.0 26.4 9.6 29.9 7

 8 Farm business 3.3 3.2 3.3 2.8 3.0 2.6 4.7 5.3 8.8 7.9 8

 9 State and local governments 7.6 6.9 7.3 8.8 12.1 12.1 16.4 14.0 14.1 13.4 9

10 Rest of the world 2.5 1.9 3.9 2.7 3.2 2.8 5.1 4.4 6.3 13.8 10

11 Financial sectors 8.9 11.0 -1.3 12.4 27.6 16.2 11.1 23.9 47.0 49.6 11

12 Commercial banking 0.8 0.3 1.0 0.4 5.1 0.9 2.5 2.7 5.2 14.3 12

13 U.S.-chartered commercial banks 0.8 0.3 0.8 0.3 0.6 1.4 1.5 0.3 1.6 7.9 13

14 Foreign banking offices in U.S. 0.0 0.0 0.1 0.0 0.2 0.3 0.2 -0.2 0.4 1.9 14

15 Bank holding companies 0.0 0.0 0.0 0.0 4.3 -0.8 0.8 2.6 3.2 4.4 15

16 Savings institutions 0.8 1.0 -2.7 0.9 4.1 1.2 -2.0 0.5 7.6 6.2 16

17 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Government-sponsored enterprises 2.1 4.8 -0.6 3.5 8.8 8.2 1.1 3.5 16.3 17.3 19

20 Agency- and GSE-backed mortgage pools 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 20

21 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Finance companies 4.4 4.9 2.0 3.7 7.3 2.5 0.8 6.0 7.5 8.9 22

23 Mortgage companies 0.5 -0.6 -1.6 2.6 0.8 1.2 2.0 1.7 1.9 -1.9 23

24 REITs 0.0 0.0 0.0 0.8 0.7 0.7 1.9 4.6 4.9 0.3 24

25 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Total net lending 78.6 80.2 80.8 105.7 119.8 110.3 151.5 184.4 237.3 238.9 27

28 Domestic nonfederal nonfinancial sectors 6.7 19.2 4.4 16.9 45.2 1.6 -4.6 6.0 27.8 54.1 28

29 Household sector 4.0 20.2 5.7 10.3 41.1 0.2 -12.2 -4.5 21.3 39.2 29

30 Nonfinancial corporate business -0.2 -1.0 -1.4 2.5 -1.3 2.0 8.0 2.6 -3.4 8.6 30

31 Nonfarm noncorporate business 0.3 -0.1 -0.0 0.2 0.4 0.7 1.3 1.2 0.2 -0.2 31

32 State and local governments 2.5 -0.0 0.2 3.8 5.0 -1.3 -1.7 6.7 9.7 6.5 32

33 Federal government 2.9 5.1 4.6 5.2 3.1 2.8 2.8 1.8 3.9 6.2 33

34 Rest of the world 0.3 -0.7 2.4 0.5 -0.5 11.0 26.7 8.6 0.9 5.9 34

35 Financial sectors 68.7 56.6 69.4 83.1 72.0 94.9 126.6 168.0 204.8 172.7 35

36 Monetary authority 4.0 3.1 5.3 3.9 4.2 5.0 7.4 1.6 9.3 4.9 36

37 Commercial banking 28.9 18.0 36.7 38.9 20.0 37.0 51.2 69.2 86.6 75.2 37

38 U.S.-chartered commercial banks 28.6 17.4 35.9 38.4 14.2 34.4 50.9 68.1 80.0 64.7 38

39 Foreign banking offices in U.S. 0.2 0.5 0.7 0.4 1.6 3.5 0.0 1.0 4.8 9.1 39

40 Bank holding companies 0.0 0.0 0.0 0.0 3.9 -1.0 -0.1 -0.2 1.7 0.9 40

41 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.1 0.2 0.1 0.3 0.3 0.1 0.5 41

42 Savings institutions 13.4 8.2 13.3 14.2 12.6 15.4 34.8 42.7 33.5 22.2 42

43 Credit unions 1.0 1.1 0.9 1.5 2.1 1.4 2.0 2.9 3.6 2.7 43

44 Bank personal trusts and estates 0.0 0.0 0.0 0.0 -0.7 2.7 4.4 3.1 4.4 2.8 44

45 Life insurance companies 7.6 8.1 7.4 7.3 6.9 7.0 8.2 9.7 12.3 12.9 45

46 Other insurance companies 1.0 1.5 1.4 1.9 1.6 3.8 3.8 3.7 3.4 4.6 46

47 Private pension funds 1.9 2.8 0.9 1.1 0.8 2.0 -1.6 5.5 6.2 8.9 47

48 State and local govt. retirement funds 2.9 3.7 3.3 3.4 3.8 4.1 3.3 4.6 5.7 6.3 48

49 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 50

51 Mutual funds 0.7 1.3 -0.8 -0.2 1.0 0.6 -0.2 0.5 0.6 0.8 51

52 Closed-end funds 0.0 -0.0 0.1 0.4 -0.0 -0.7 0.6 0.3 0.5 -0.2 52

53 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 Government-sponsored enterprises 2.3 5.1 -0.0 3.2 8.6 8.8 1.1 4.0 15.4 20.9 54

55 Agency- and GSE-backed mortgage pools 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 55

56 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Finance companies 4.2 2.8 0.1 4.5 7.8 1.1 4.1 8.2 10.0 7.2 57

58 Mortgage companies 0.5 -0.6 0.4 0.6 0.8 1.2 2.0 1.7 1.9 -1.9 58

59 REITs 0.0 0.0 0.0 0.8 1.2 1.9 2.3 4.2 5.6 0.2 59

60 Brokers and dealers -0.2 0.8 -0.3 0.6 0.1 2.3 -1.4 1.3 1.6 0.2 60

61 Funding corporations 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 61

(1) Excludes corporate equities and mutual fund shares.
2 FFA, 1965-1974, Z.1, December 9, 2004

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Domestic 67.1 67.3 78.2 90.5 89.0 91.3 135.4 156.0 184.0 175.5 1

 2 Federal government 1.6 3.6 12.9 12.5 -3.2 12.1 24.9 15.0 6.9 11.9 2

 3 Treasury securities 1.2 2.3 8.9 9.4 -0.8 13.1 26.0 14.2 6.6 12.1 3

 4 Budget agency securities and mortgages 0.5 1.3 4.1 3.1 -2.4 -1.0 -1.1 0.8 0.4 -0.2 4

 5 Nonfederal, by instrument 65.5 63.7 65.2 78.0 92.2 79.3 110.5 141.0 177.0 163.6 5

 6 Commercial paper -0.3 0.8 1.4 1.2 1.1 1.8 -0.9 0.7 1.4 4.1 6

 7 Municipal securities and loans 7.2 6.2 7.2 8.4 11.4 12.0 16.2 14.2 16.0 15.3 7

 8 Corporate bonds 4.9 10.2 14.7 12.9 12.0 19.8 18.8 12.2 9.2 19.7 8

 9 Bank loans n.e.c. 12.0 11.4 10.3 10.0 16.3 4.6 6.3 16.0 38.1 36.7 9

10 Other loans and advances 4.1 5.3 2.8 5.3 10.7 5.8 5.1 6.9 12.3 16.3 10

11 Mortgages 27.5 23.8 23.7 29.4 30.9 30.9 49.4 71.6 77.7 62.6 11

12 Home 17.2 13.0 13.4 17.2 18.2 13.5 27.0 39.0 43.4 35.9 12

13 Multifamily residential 3.6 3.1 3.6 3.4 4.9 8.1 9.7 12.7 10.4 6.9 13

14 Commercial 4.5 5.8 4.8 6.6 5.9 8.2 10.0 16.9 19.4 14.6 14

15 Farm 2.2 1.9 2.0 2.2 1.8 1.1 2.6 3.0 4.4 5.1 15

16 Consumer credit 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 16

17 Nonfederal, by sector 65.5 63.7 65.2 78.0 92.2 79.3 110.5 141.0 177.0 163.6 17

18 Household sector 28.5 22.2 20.4 31.3 31.9 19.5 42.3 56.9 69.5 55.7 18

19 Nonfinancial business 29.5 34.6 37.5 37.9 48.1 47.7 51.8 70.2 93.4 94.4 19

20 Corporate 20.0 24.7 27.0 26.8 32.6 41.1 28.1 38.5 75.0 56.6 20

21 Nonfarm noncorporate 6.2 6.7 7.2 8.4 12.5 4.0 19.0 26.4 9.6 29.9 21

22 Farm 3.3 3.2 3.3 2.8 3.0 2.6 4.7 5.3 8.8 7.9 22

23 State and local governments 7.6 6.9 7.3 8.8 12.1 12.1 16.4 14.0 14.1 13.4 23

24 Foreign borrowing in U.S. 2.5 1.9 3.9 2.7 3.2 2.8 5.1 4.4 6.3 13.8 24

25 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 25

26 Bonds 0.5 0.7 1.2 1.1 1.0 0.9 0.9 1.0 1.0 2.4 26

27 Bank loans n.e.c. 0.6 -0.1 -0.4 -0.4 -0.3 -0.2 2.0 3.0 2.7 4.7 27

28 Other loans and advances 1.5 1.2 3.0 2.0 2.4 2.1 2.1 0.4 2.6 6.6 28

29 Domestic and foreign 69.6 69.2 82.0 93.3 92.2 94.1 140.4 160.5 190.3 189.3 29

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument 8.9 11.0 -1.3 12.4 27.6 16.2 11.1 23.9 47.0 49.6 1

 2 Open market paper 1.2 3.7 2.7 3.0 11.4 0.3 0.8 0.9 7.0 13.4 2

 3 GSE issues 1.9 5.1 -0.6 3.2 9.1 8.2 1.1 3.5 16.3 16.6 3

 4 Agency- and GSE-backed mortgage pool sec. 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 4

 5 Corporate bonds 1.2 1.6 1.0 0.6 1.0 2.5 4.7 7.4 5.4 6.9 5

 6 Bank loans n.e.c. 3.5 -0.6 -2.5 3.7 1.5 2.1 2.2 6.7 7.2 0.6 6

 7 Other loans and advances 0.9 0.7 -2.6 1.1 3.7 1.3 -2.7 0.0 7.2 7.4 7

 8 Mortgages 0.0 0.0 0.0 0.2 0.2 0.1 0.1 0.5 0.3 0.1 8

 9 By sector 8.9 11.0 -1.3 12.4 27.6 16.2 11.1 23.9 47.0 49.6 9

10 Commercial banking 0.8 0.3 1.0 0.4 5.1 0.9 2.5 2.7 5.2 14.3 10

11 U.S.-chartered commercial banks 0.8 0.3 0.8 0.3 0.6 1.4 1.5 0.3 1.6 7.9 11

12 Foreign banking offices in U.S. 0.0 0.0 0.1 0.0 0.2 0.3 0.2 -0.2 0.4 1.9 12

13 Bank holding companies 0.0 0.0 0.0 0.0 4.3 -0.8 0.8 2.6 3.2 4.4 13

14 Savings institutions 0.8 1.0 -2.7 0.9 4.1 1.2 -2.0 0.5 7.6 6.2 14

15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Government-sponsored enterprises 2.1 4.8 -0.6 3.5 8.8 8.2 1.1 3.5 16.3 17.3 17

18 Agency- and GSE-backed mortgage pools 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 18

19 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Finance companies 4.4 4.9 2.0 3.7 7.3 2.5 0.8 6.0 7.5 8.9 20

21 Mortgage companies 0.5 -0.6 -1.6 2.6 0.8 1.2 2.0 1.7 1.9 -1.9 21

22 REITs 0.0 0.0 0.0 0.8 0.7 0.7 1.9 4.6 4.9 0.3 22

23 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24
FFA, 1965-1974, Z.1, December 9, 2004 3

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total 78.6 80.2 80.8 105.7 119.8 110.3 151.5 184.4 237.3 238.9 1

 2 Open market paper 0.9 4.6 4.2 4.2 12.5 2.1 -0.1 1.6 8.4 17.8 2

 3 Treasury securities 1.2 2.3 8.9 9.4 -0.8 13.1 26.0 14.2 6.6 12.1 3

 4 Agency- and GSE-backed securities 2.6 6.9 4.3 6.9 7.4 8.8 4.9 9.3 20.4 21.0 4

 5 Municipal securities 7.2 6.2 7.2 8.4 11.4 12.0 16.2 14.2 16.0 15.3 5

 6 Corporate and foreign bonds 6.5 12.5 16.8 14.6 14.0 23.2 24.5 20.6 15.5 29.0 6

 7 Bank loans n.e.c. 16.1 10.8 7.4 13.3 17.5 6.5 10.5 25.7 48.0 42.0 7

 8 Other loans and advances 6.4 7.2 3.2 8.4 16.8 9.3 4.6 7.3 22.1 30.2 8

 9 Mortgages 27.5 23.7 23.7 29.6 31.0 30.9 49.5 71.9 77.9 62.6 9

10 Consumer credit 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

11 Total net issues 1.7 4.1 2.8 3.9 8.8 7.0 14.8 11.7 11.7 5.3 11

12 Corporate equities -0.4 1.6 1.7 1.4 5.5 5.4 14.7 13.1 12.8 5.2 12

13 Nonfinancial -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 13

 Foreign shares purchased by

14 U.S. residents 0.3 -0.0 0.1 0.5 0.5 0.2 0.2 -0.4 -0.3 -0.5 14

15 Financial -0.7 0.4 -0.8 1.1 1.6 -0.4 3.1 2.6 5.2 1.6 15

16 Mutual fund shares 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 16

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

Billions of dollars

 Net flows through credit markets

 1 (from table F.4, line 1) 78.6 80.2 80.8 105.7 119.8 110.3 151.5 184.4 237.3 238.9 1

 2 Official foreign exchange 0.4 0.0 1.1 2.0 0.2 -2.5 -1.7 -0.2 -0.1 1.3 2

 3 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 3

 4 Treasury currency 0.2 0.9 0.7 0.4 0.3 0.2 0.5 0.5 0.4 0.4 4

 5 Foreign deposits -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 5

 6 Net interbank transactions 0.6 6.0 2.3 5.8 12.4 -3.0 -1.7 -4.8 -2.7 -1.1 6

 7 Checkable deposits and currency 7.3 4.5 15.3 15.1 8.1 12.8 18.0 24.4 16.6 7.0 7

 8 Small time and savings deposits 27.3 18.0 34.7 26.6 14.4 30.6 68.4 70.7 39.4 36.9 8

 9 Large time deposits 5.9 2.3 5.9 6.7 -15.1 24.2 13.5 17.7 39.1 41.0 9

10 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 10

11 Security RPs 0.8 -0.0 -0.7 0.6 6.0 -3.6 3.9 1.7 16.4 2.2 11

12 Corporate equities -0.4 1.6 1.7 1.4 5.5 5.4 14.7 13.1 12.8 5.2 12

13 Mutual fund shares 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 13

14 Trade payables 16.9 14.0 12.7 20.9 27.3 13.7 20.5 32.1 52.3 43.2 14

15 Security credit 1.1 0.8 7.0 6.6 -6.7 -0.8 3.8 8.7 -7.9 -3.6 15

16 Life insurance reserves 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 16

17 Pension fund reserves 13.0 15.5 14.5 16.3 18.3 20.5 24.0 43.6 34.5 37.5 17

18 Taxes payable 2.1 -0.9 -4.4 1.3 -1.5 -2.1 4.0 3.9 5.4 9.0 18

19 Investment in bank personal trusts 0.0 0.0 0.0 0.0 13.2 4.9 13.5 9.5 13.6 6.4 19

20 Noncorporate proprietors’ equity 2.2 2.0 0.2 3.1 -0.7 -0.1 1.3 -5.8 8.9 -28.2 20

21 Miscellaneous 11.9 8.1 12.2 19.1 25.2 31.3 34.9 50.9 50.2 34.1 21

22 Total financial sources 174.6 160.1 190.5 239.5 234.7 249.0 375.9 456.8 523.5 439.6 22

 - Liabilities not identified as assets:

23 Treasury currency 0.1 0.2 0.2 0.2 0.2 -0.1 0.0 -0.2 0.0 -0.1 23

24 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Net interbank liabilities 0.2 0.8 0.0 0.6 -0.1 0.6 -1.0 -4.6 0.6 2.5 25

26 Security RPs -0.6 -2.7 0.5 1.5 -1.2 2.7 0.8 -0.0 0.7 6.8 26

27 Taxes payable 0.7 0.4 0.5 0.2 1.6 0.5 1.1 2.4 2.2 7.2 27

28 Miscellaneous -5.6 0.4 -3.9 1.0 7.1 2.4 -3.0 -20.9 -6.9 3.1 28

 - Floats not included in assets:

29 Checkable deposits: Federal govt. 0.4 -0.0 0.6 1.0 -0.9 -1.0 -0.4 0.6 0.3 -0.1 29

30 Other 1.4 2.3 -0.4 3.5 0.9 1.4 0.9 4.7 -0.4 0.4 30

31 Trade credit 2.2 -1.6 0.9 0.4 0.3 5.0 7.2 2.2 3.4 7.6 31

 Totals identified to sectors

32 as assets 175.6 160.4 191.9 231.0 226.7 237.4 370.2 472.6 523.5 412.2 32
4 FFA, 1965-1974, Z.1, December 9, 2004

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross Domestic Product (GDP) 719.2 787.9 832.6 910.0 984.5 1038.6 1127.1 1238.3 1382.7 1500.0 1

 2 Personal consumption expenditures (2) 443.8 480.9 507.8 558.1 605.2 648.5 701.9 770.6 852.4 933.4 2

 3 Durable goods 63.3 68.3 70.4 80.8 85.9 85.0 96.9 110.4 123.6 122.3 3

 4 Nondurable goods 191.5 208.8 217.1 235.7 253.2 272.0 285.5 308.1 343.1 384.5 4

 5 Services 189.0 203.8 220.3 241.6 266.1 291.5 319.5 352.2 385.8 426.6 5

 6 Gross private domestic investment 118.3 131.3 128.6 141.2 156.4 152.4 178.2 207.6 244.5 249.4 6

 7 Fixed investment 109.0 117.7 118.7 132.2 147.3 150.4 169.9 198.5 228.6 235.5 7

 8 Nonresidential 74.8 85.4 86.4 93.4 104.6 109.0 114.2 128.8 153.3 169.5 8

 9 Household sector (nonprofit organizations) 5.0 5.2 5.1 5.3 6.1 6.3 7.0 8.9 9.3 8.8 9

10 Nonfinancial corporate business 52.7 61.6 62.9 68.0 76.2 79.1 81.2 92.2 108.6 123.3 10

11 Nonfarm noncorporate business 9.8 10.9 10.1 11.2 12.7 13.3 14.6 15.2 18.7 17.4 11

12 Farm business 5.2 5.6 6.0 5.7 6.1 6.7 6.9 7.4 10.0 11.3 12

13 Financial corporations 2.1 2.1 2.3 3.3 3.6 3.6 4.5 5.1 6.6 8.7 13

14 Residential 34.2 32.3 32.3 38.7 42.6 41.4 55.8 69.7 75.4 66.0 14

15 Household sector 25.8 24.5 24.8 28.7 30.2 28.7 38.8 48.1 54.0 48.5 15

16 Nonfinancial corporate business 0.9 0.8 0.7 0.4 0.6 0.6 0.7 1.0 1.0 0.8 16

17 Nonfarm noncorporate business 7.5 7.0 6.8 9.6 11.8 12.1 16.1 20.5 20.3 16.6 17

18 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 18

19 Change in private inventories 9.2 13.6 9.9 9.1 9.2 2.0 8.3 9.1 15.9 14.0 19

20 Nonfinancial corporate business 8.0 13.4 8.5 7.3 8.7 2.7 6.3 8.4 13.6 15.9 20

21 Nonfarm noncorporate business 0.4 0.7 0.4 0.4 0.5 0.1 0.3 0.4 0.7 0.8 21

22 Farm business 0.8 -0.5 0.9 1.4 0.0 -0.8 1.7 0.3 1.5 -2.8 22

23 Net U.S. exports of goods and services 5.6 3.9 3.6 1.4 1.4 4.0 0.6 -3.4 4.1 -0.8 23

24 Exports 37.2 40.9 43.5 47.9 51.9 59.7 63.0 70.9 95.3 126.7 24

25 - Imports 31.5 37.1 39.9 46.6 50.5 55.8 62.4 74.2 91.2 127.5 25

 Government consumption expenditures and

26 gross investment 151.5 171.8 192.7 209.4 221.5 233.7 246.5 263.4 281.7 318.0 26

27 Consumption expenditures (3) 115.9 132.0 149.7 165.8 178.2 190.2 204.7 220.8 234.9 261.7 27

28 Federal 65.7 75.9 87.2 95.4 98.4 98.6 102.0 107.7 108.9 118.0 28

29 State and local 50.2 56.1 62.6 70.4 79.9 91.5 102.7 113.2 126.0 143.8 29

30 Gross investment (3) 35.6 39.8 43.0 43.6 43.3 43.6 41.8 42.6 46.8 56.3 30

31 Federal 14.7 16.7 17.7 16.0 15.0 14.8 11.7 12.0 13.6 16.6 31

32 State and local 20.9 23.1 25.3 27.7 28.3 28.8 30.1 30.7 33.2 39.6 32

 Memo:

33 Net U.S. income receipts from rest of the world 5.3 5.1 5.4 6.1 6.1 6.4 7.6 8.6 12.6 15.5 33

34 U.S. income receipts 7.9 8.1 8.7 10.1 11.8 12.9 14.0 16.3 23.5 29.8 34

35 - U.S. income payments 2.6 3.0 3.3 4.0 5.7 6.4 6.4 7.7 10.9 14.3 35

 Gross National Product (GNP) =

36 GDP + net U.S. income receipts 724.4 792.9 838.0 916.1 990.6 1045.0 1134.7 1246.8 1395.3 1515.5 36

(1) This table is based on NIPA table 1.1.5 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.
FFA, 1965-1974, Z.1, December 9, 2004 5

F.7 Distribution of National Income (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 National Income 653.4 711.0 752.0 823.2 889.9 931.1 1008.1 1111.3 1247.4 1342.1 1

 2 Compensation of employees 399.5 442.7 475.1 524.3 577.7 617.2 658.9 725.2 811.2 890.2 2

 3 Wages and other labor income 386.4 425.8 457.1 504.3 554.9 593.3 631.9 694.1 771.5 846.0 3

 4 Employer social insurance contributions 13.1 16.9 18.1 20.0 22.8 23.9 26.5 31.2 39.8 44.7 4

 5 Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.0 -0.1 -0.5 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments 63.9 68.2 69.8 74.3 77.4 78.4 84.8 95.9 113.5 113.1 6

 7 Nonfarm 52.1 55.4 58.4 62.8 64.8 65.7 71.6 79.1 84.6 89.9 7

 8 Farm 11.8 12.8 11.5 11.5 12.7 12.7 13.2 16.8 28.9 23.2 8

 Rental income of persons (with capital

 9 consumption adjustment) 20.2 20.8 21.2 20.9 21.2 21.4 22.5 23.4 24.3 24.3 9

 Corporate profits with inventory

10 valuation and capital consumption adjustments 87.5 93.2 91.4 98.8 95.4 83.6 98.1 112.1 125.5 115.8 10

 Corporate profits with inventory

11 valuation adjustment 78.9 84.6 82.0 88.8 85.5 74.4 88.3 101.3 115.3 109.6 11

12 Profits before tax 80.2 86.7 83.6 92.5 91.4 81.0 92.9 107.9 134.9 147.8 12

13 Domestic nonfinancial 66.0 71.3 67.5 73.9 71.0 58.5 67.3 78.8 98.6 109.9 13

14 Farm 0.2 0.2 0.1 0.1 0.1 0.0 0.1 0.3 0.8 0.3 14

15 Foreign subsidiaries 4.7 4.5 4.8 5.7 6.7 7.1 7.9 9.5 14.9 17.5 15

16 Financial 9.3 10.8 11.3 12.8 13.6 15.4 17.6 19.2 20.6 20.1 16

 Less:

17 Taxes on corporate income 31.1 33.9 32.9 39.6 40.0 34.8 38.2 42.4 50.0 52.8 17

18 Domestic nonfinancial 27.0 29.4 27.7 33.5 33.3 27.2 29.9 33.7 40.2 42.7 18

19 Farm 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.2 19

20 Financial 4.0 4.4 5.1 6.1 6.6 7.5 8.2 8.6 9.6 9.9 20

 Equals:

21 Profits after tax 49.1 52.8 50.7 52.9 51.4 46.2 54.7 65.5 84.9 95.0 21

22 Net dividends 20.2 20.7 21.5 23.6 24.3 24.3 25.0 26.8 29.9 33.2 22

23 Domestic nonfinancial 16.1 16.7 17.2 19.0 19.0 18.3 18.1 19.6 20.7 21.4 23

24 Farm 0.1 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 24

25 Foreign subsidiaries 3.3 2.9 3.2 3.4 3.9 3.9 4.7 4.9 6.8 9.8 25

26 Financial 0.7 1.1 1.1 1.2 1.4 2.1 2.2 2.3 2.4 1.9 26

27 Undistributed profits 28.9 32.2 29.2 29.3 27.2 21.9 29.7 38.7 55.0 61.8 27

28 Domestic nonfinancial 22.8 25.2 22.5 21.4 18.8 13.0 19.3 25.5 37.8 45.8 28

29 Farm 0.0 0.0 -0.0 0.0 0.0 -0.1 -0.1 0.1 0.4 -0.0 29

30 Foreign subsidiaries 1.4 1.7 1.6 2.3 2.8 3.2 3.2 4.7 8.1 7.7 30

31 Financial 4.7 5.3 5.1 5.6 5.6 5.8 7.3 8.4 8.7 8.3 31

32 Inventory valuation adjustment -1.2 -2.1 -1.6 -3.7 -5.9 -6.6 -4.6 -6.6 -19.6 -38.2 32

33 Capital consumption adjustment 8.6 8.6 9.4 10.0 9.9 9.2 9.8 10.9 10.2 6.3 33

34 Domestic nonfinancial 8.3 8.5 9.1 9.6 9.4 8.7 9.2 10.4 9.2 5.3 34

35 Farm 0.1 0.0 0.1 0.1 0.1 0.2 0.1 0.1 0.3 0.3 35

36 Financial 0.2 0.1 0.2 0.3 0.3 0.3 0.4 0.4 0.7 0.7 36

37 Net interest and miscellaneous payments 19.6 22.4 25.6 27.1 32.7 39.1 43.9 47.9 55.2 70.8 37

38 Taxes on production and imports 60.8 63.3 68.0 76.5 84.0 91.5 100.6 108.1 117.4 125.0 38

39 Less: Subsidies 3.0 3.9 3.8 4.2 4.5 4.8 4.7 6.7 5.3 3.3 39

40 Business current transfer payments (net) 3.6 3.5 3.8 4.3 5.0 4.6 4.4 4.9 6.0 7.2 40

41 Current surplus of government enterprises 1.4 1.0 0.9 1.2 1.1 0.0 -0.2 0.5 -0.4 -1.0 41

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

42 National Income, from line 1 above 653.4 711.0 752.0 823.2 889.9 931.1 1008.1 1111.3 1247.4 1342.1 42

 Plus:

43 Private consumption of fixed capital 50.5 55.5 59.9 65.2 73.1 80.0 86.7 97.1 107.9 126.6 43

44 Government consumption of fixed capital 18.9 20.1 21.6 23.1 24.8 26.7 28.3 29.4 31.4 35.9 44

45 Statistical discrepancy 1.7 6.3 4.5 4.6 2.9 7.2 11.4 9.1 8.5 10.9 45

 Less:

46 Net U.S. income receipts from rest of the world 5.3 5.1 5.4 6.1 6.1 6.4 7.6 8.6 12.6 15.5 46

 Equals:

47 Gross Domestic Product 719.2 787.9 832.6 910.0 984.5 1038.6 1127.1 1238.3 1382.7 1500.0 47

(1) This table corresponds to NIPA table 1.12 in the Survey of Current Business, Department of Commerce.

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Department of Commerce.
6 FFA, 1965-1974, Z.1, December 9, 2004

F.8 Saving and Investment (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 158.4 168.7 170.7 182.1 198.6 192.8 209.2 237.5 292.1 301.4 1

 2 Net saving 89.0 93.0 89.2 93.7 100.7 86.2 94.2 111.1 152.8 139.0 2

 3 Net private saving 79.2 83.1 91.4 88.5 83.8 94.0 115.9 119.8 148.4 143.5 3

 4 Personal saving 43.0 44.5 54.4 52.8 52.6 69.5 80.7 77.2 102.8 113.7 4

 5 Undistributed corporate profits w/IVA & CCA 36.2 38.6 37.0 35.6 31.2 24.6 34.9 42.9 45.6 29.8 5

 6 Undistributed profits 28.9 32.2 29.2 29.3 27.2 21.9 29.7 38.7 55.0 61.8 6

 7 Inventory valuation adjustment -1.2 -2.1 -1.6 -3.7 -5.9 -6.6 -4.6 -6.6 -19.6 -38.2 7

 8 Capital consumption adjustment 8.6 8.6 9.4 10.0 9.9 9.2 9.8 10.9 10.2 6.3 8

 9 Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.3 -0.0 0.0 9

10 Net government saving 9.8 9.9 -2.2 5.3 17.0 -7.9 -21.7 -8.7 4.5 -4.5 10

11 Federal 3.4 2.2 -9.3 -2.3 8.9 -15.0 -28.3 -24.3 -11.2 -13.8 11

12 State and local 6.5 7.7 7.1 7.6 8.1 7.1 6.6 15.6 15.7 9.3 12

13 Consumption of fixed captal 69.4 75.7 81.5 88.4 97.9 106.7 115.0 126.5 139.3 162.5 13

14 Private 50.5 55.5 59.9 65.2 73.1 80.0 86.7 97.1 107.9 126.6 14

15 Domestic business 41.9 46.3 50.0 54.4 61.2 67.1 72.5 80.9 89.9 105.9 15

16 Households and institutions 8.6 9.2 9.9 10.8 12.0 12.9 14.2 16.2 18.1 20.7 16

17 Government 18.9 20.1 21.6 23.1 24.8 26.7 28.3 29.4 31.4 35.9 17

18 Federal 12.7 13.2 14.0 14.8 15.5 16.1 16.5 16.6 17.1 18.2 18

19 State and local 6.2 6.9 7.5 8.3 9.3 10.6 11.8 12.8 14.3 17.7 19

 Gross domestic investment, capital account

20 transactions, and net lending, NIPAs 160.1 175.0 175.1 186.6 201.5 200.1 220.6 246.6 300.6 312.3 20

21 Gross domestic investment 153.8 171.1 171.5 184.8 199.7 196.0 219.9 250.2 291.3 305.7 21

22 Gross private domestic investment 118.3 131.3 128.6 141.2 156.4 152.4 178.2 207.6 244.5 249.4 22

23 Fixed investment 109.0 117.7 118.7 132.2 147.3 150.4 169.9 198.5 228.6 235.5 23

24 Nonresidential 74.8 85.4 86.4 93.4 104.6 109.0 114.2 128.8 153.3 169.5 24

25 Residential 34.2 32.3 32.3 38.7 42.6 41.4 55.8 69.7 75.4 66.0 25

26 Change in private inventories 9.2 13.6 9.9 9.1 9.2 2.0 8.3 9.1 15.9 14.0 26

27 Gross government investment 35.6 39.8 43.0 43.6 43.3 43.6 41.8 42.6 46.8 56.3 27

28 Capital account transactions (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Net lending or net borrowing (-), NIPAs 6.3 3.9 3.6 1.8 1.8 4.1 0.6 -3.6 9.3 6.6 29

30 Statistical discrepancy (line 20 less line 1) 1.7 6.3 4.5 4.6 2.9 7.2 11.4 9.1 8.5 10.9 30

(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

 1 Capital transfers received by government (net) 3.5 3.8 3.9 4.0 4.5 4.6 5.7 6.6 6.4 6.1 1

 2 Federal -1.2 -1.3 -1.2 -2.9 -2.3 -1.6 -1.3 -0.7 -0.9 -3.1 2

 3 Estate and gift taxes paid by persons 2.8 3.0 3.1 3.1 3.6 3.7 4.6 5.4 5.1 4.8 3

 4 - Capital transfers paid to persons 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 - Capital transfers paid to the rest of the world (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 - Federal investment grants to state and local govts. 4.0 4.3 4.2 5.9 5.8 5.1 5.8 5.8 5.8 7.7 6

 7 - Investment grants to business 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 7

 8 State and local 4.7 5.1 5.1 6.8 6.8 6.2 7.0 7.3 7.3 9.2 8

 9 Estate and gift taxes paid by persons 0.8 0.8 0.9 1.0 1.1 1.1 1.2 1.4 1.5 1.5 9

10 + Federal investment grants to state and local govts. 4.0 4.3 4.2 5.9 5.8 5.1 5.8 5.8 5.8 7.7 10

11 Capital transfers received by rest of the world (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Capital transfers received from U.S. government (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 - Migrants’ transfers received by persons (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 Memo:

 Acquisition of nonproduced nonfinancial assets (net)

14 Nonfinancial corporate business -1.8 -2.1 -1.2 -0.5 -1.1 -0.9 -1.2 -1.0 1.5 3.8 14

15 State and local governments 1.3 1.4 1.4 1.4 1.0 1.1 1.6 1.7 1.7 1.9 15

16 Federal governments 0.5 0.7 -0.2 -0.9 0.1 -0.3 -0.4 -0.7 -3.2 -5.7 16

17 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

(1) This table is based on NIPA table 5.10 in the Survey of Current Business, Department of Commerce.
FFA, 1965-1974, Z.1, December 9, 2004 7

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets 55.7 62.1 69.9 65.5 73.5 78.9 109.2 135.7 148.7 153.9 1

 2 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Checkable deposits and currency 6.7 2.4 10.5 9.5 -1.8 7.3 13.5 13.0 12.5 5.1 3

 4 Time and savings deposits 27.5 18.8 34.9 30.3 9.7 42.5 65.5 72.6 63.0 55.3 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 5

 6 Securities 0.4 16.5 -2.1 -1.3 25.1 -5.7 -22.0 -21.8 7.3 30.8 6

 7 Open market paper 0.9 2.3 1.8 2.0 6.3 -2.3 -3.9 -5.2 4.1 5.6 7

 8 U.S. savings bonds 0.6 0.6 1.0 0.6 -0.1 0.3 2.3 3.3 2.7 3.0 8

 9 Other Treasury securities 0.6 3.7 -1.0 2.3 11.0 -10.8 -10.5 -0.1 7.1 1.8 9

10 Agency- and GSE-backed securities 0.9 4.7 0.4 -0.1 4.6 4.2 -0.9 -5.7 -1.2 5.6 10

11 Municipal securities 1.7 4.6 -3.0 -1.6 13.3 -1.0 -3.5 0.5 5.8 8.2 11

12 Corporate and foreign bonds -1.1 2.7 4.4 5.1 4.5 8.1 7.1 1.9 2.9 11.6 12

13 Corporate equities (2) -5.2 -4.3 -6.7 -11.7 -16.7 -5.3 -12.6 -14.8 -11.5 -3.5 13

14 Mutual fund shares 2.1 2.2 0.9 2.2 2.2 1.0 -0.0 -1.7 -2.6 -1.5 14

15 Life insurance reserves 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 15

16 Pension fund reserves 13.0 15.5 14.5 16.3 18.3 20.5 24.0 43.6 34.5 37.5 16

17 Investment in bank personal trusts 0.0 0.0 0.0 0.0 13.2 4.9 13.5 9.5 13.6 6.4 17

18 Miscellaneous and other assets 3.3 4.3 7.0 5.8 3.9 3.9 8.4 12.0 10.4 9.2 18

19 Gross investment in tangible assets 113.1 116.7 119.4 137.5 146.6 145.0 175.0 201.9 228.5 213.7 19

20 Residential fixed investment 33.3 31.5 31.6 38.3 42.0 40.8 55.0 68.6 74.3 65.1 20

21 Other fixed assets (3) 20.0 21.7 21.2 22.1 24.8 26.3 28.5 31.5 38.0 37.5 21

22 Consumer durables 58.6 63.4 65.3 75.3 79.3 78.6 89.6 101.0 114.0 113.1 22

23 Inventories (3) 1.2 0.2 1.3 1.8 0.5 -0.7 2.0 0.7 2.2 -1.9 23

24 Consumption of fixed capital 64.9 69.7 74.9 82.3 90.6 97.6 106.1 115.6 127.3 143.5 24

25 Residential fixed investment 9.9 10.7 11.3 12.3 13.8 14.7 16.1 18.8 20.9 24.2 25

26 Other fixed assets (3) 11.6 12.5 13.5 14.4 15.8 17.1 18.5 19.9 21.9 25.2 26

27 Consumer durables 43.4 46.4 50.0 55.6 61.1 65.8 71.5 76.9 84.4 94.1 27

28 Net investment in tangible assets (4) 48.3 47.1 44.5 55.2 56.0 47.4 68.9 86.3 101.3 70.3 28

29 Residential fixed investment 23.4 20.8 20.3 26.0 28.3 26.1 38.8 49.9 53.4 40.9 29

30 Other fixed assets (3) 8.4 9.1 7.7 7.7 9.1 9.2 10.0 11.6 16.0 12.3 30

31 Consumer durables 15.2 17.0 15.2 19.8 18.2 12.8 18.1 24.1 29.6 19.0 31

32 Inventories (3) 1.2 0.2 1.3 1.8 0.5 -0.7 2.0 0.7 2.2 -1.9 32

33 Net increase in liabilities 38.7 31.6 34.8 43.9 45.9 33.8 73.9 98.9 93.3 104.3 33

34 Mortgage debt on nonfarm homes 17.2 13.0 13.4 17.2 18.2 13.3 26.6 38.2 42.9 36.2 34

35 Other mortgage debt (3) 7.9 7.2 6.1 11.8 11.9 4.4 18.9 25.2 4.6 26.5 35

36 Consumer credit 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 36

37 Policy loans 0.6 1.5 1.0 1.3 2.6 2.3 1.0 1.0 2.2 2.7 37

38 Security credit 0.3 -0.0 3.0 2.6 -3.3 -1.3 2.5 3.6 -4.2 -1.5 38

39 Other liabilities (3) 2.6 4.1 6.2 0.2 6.6 10.7 9.3 11.4 25.3 31.5 39

40 Net capital transfers (5) -3.6 -3.9 -4.0 -4.1 -4.6 -4.8 -5.8 -6.8 -6.6 -6.3 40

41 Personal saving, with consumer durables (FOF) 68.9 81.4 83.6 80.9 88.3 97.2 110.1 130.0 163.3 126.2 41

42 Less net investment in consumer durables 15.2 17.0 15.2 19.8 18.2 12.8 18.1 24.1 29.6 19.0 42

43 = Personal saving, without consumer durables (FOF) (6) 53.7 64.4 68.3 61.1 70.0 84.4 92.0 105.8 133.7 107.1 43

44 Personal saving (NIPA, excludes consumer durables) 43.0 44.5 54.4 52.8 52.6 69.5 80.7 77.2 102.8 113.7 44

45 Difference 10.7 19.9 13.9 8.3 17.5 14.9 11.3 28.7 30.9 -6.5 45

 Memo:

46 Disposable personal income 498.1 537.6 575.3 625.1 674.0 735.7 801.8 869.1 978.3 1071.6 46

 Personal saving as a percentage of disposable personal income:

47 With consumer durables (FOF) (line 41) 13.8 15.1 14.5 12.9 13.1 13.2 13.7 15.0 16.7 11.8 47

48 Without consumer durables (FOF) (line 43) 10.8 12.0 11.9 9.8 10.4 11.5 11.5 12.2 13.7 10.0 48

49 Without consumer durables (NIPA) (line 44) 8.6 8.3 9.5 8.5 7.8 9.4 10.1 8.9 10.5 10.6 49

50 Difference (line 45) 2.2 3.7 2.4 1.3 2.6 2.0 1.4 3.3 3.2 -0.6 50

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual funds (line 14), life insurance and pension reserves (lines 15 and 16), and bank personal trusts (line 17).

(3) Includes corporate farms.

(4) Line 19 less line 24.

(5) Table F.9, line 13 less lines 3, 4, and 9.

(6) Line 43 and 44 are conceptually equivalent but measure saving using different data. Line 43 is net acquisition of financial assets (line 1) plus net investment in tangible assets net of consumer durables

 (line 28 less line 42) less net increase in liabilities (line 33) less net capital transfers (line 40). Line 44 is disposable personal income (line 46) less personal outlays (table F.100, line 4).
8 FFA, 1965-1974, Z.1, December 9, 2004

F.100 Households and Nonprofit Organizations (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Personal income 555.7 604.0 648.3 712.0 778.5 838.8 903.5 992.7 1110.8 1222.7 1

 2 - Personal current taxes 57.7 66.4 73.0 87.0 104.5 103.1 101.7 123.7 132.4 151.1 2

 3 = Disposable personal income 498.1 537.6 575.3 625.1 674.0 735.7 801.8 869.1 978.3 1071.6 3

 4 - Personal outlays 455.1 493.1 520.9 572.2 621.4 666.2 721.2 791.9 875.6 958.0 4

 5 = Personal saving, NIPA (2) 43.0 44.5 54.4 52.8 52.6 69.5 80.7 77.2 102.8 113.7 5

 6 + Government insurance and pension reserves (3) 0.3 0.3 0.3 0.1 0.1 0.2 -0.1 0.1 -0.0 -0.1 6

 7 + Net investment in consumer durables 15.2 17.0 15.2 19.8 18.2 12.8 18.1 24.1 29.6 19.0 7

 8 + Consumption of fixed capital 52.0 55.7 60.0 66.4 73.1 78.8 85.8 93.1 102.6 114.9 8

 9 + Net capital transfers (4) -3.6 -3.9 -4.0 -4.1 -4.6 -4.8 -5.8 -6.8 -6.6 -6.3 9

10 = Gross saving and net capital transfers 106.9 113.6 126.0 135.0 139.4 156.5 178.7 187.7 228.3 241.1 10

11 Gross investment 117.2 133.1 139.6 143.2 156.6 171.1 190.0 216.1 258.5 234.4 11

12 Capital expenditures 89.4 93.0 95.2 109.3 115.6 113.6 135.4 158.1 177.3 170.4 12

13 Residential 25.8 24.5 24.8 28.7 30.2 28.7 38.8 48.1 54.0 48.5 13

14 Consumer durable goods 58.6 63.4 65.3 75.3 79.3 78.6 89.6 101.0 114.0 113.1 14

15 Nonprofit nonresidential 5.0 5.2 5.1 5.3 6.1 6.3 7.0 8.9 9.3 8.8 15

16 Net financial investment 27.8 40.1 44.4 33.9 41.0 57.5 54.6 58.0 81.2 64.0 16

17 Net acquisition of financial assets 57.3 63.0 68.8 68.8 70.7 76.8 100.6 119.9 147.7 120.1 17

18 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Checkable deposits and currency 6.6 2.4 10.3 9.4 -1.9 7.2 13.3 12.7 11.9 5.0 19

20 Time and savings deposits 27.5 18.8 34.9 30.3 9.7 41.1 63.9 71.0 61.4 53.7 20

21 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 21

22 Credit market instruments 4.0 20.2 5.7 10.3 41.1 0.2 -12.2 -4.5 21.3 39.2 22

23 Open market paper 0.9 2.3 1.8 2.0 6.3 -2.3 -3.9 -5.2 4.1 5.6 23

24 Treasury securities 1.2 4.3 -0.1 2.7 10.7 -10.7 -8.3 3.0 9.7 4.8 24

25 Savings bonds 0.6 0.6 1.0 0.6 -0.1 0.3 2.3 3.3 2.7 3.0 25

26 Other 0.6 3.7 -1.1 2.1 10.8 -11.0 -10.7 -0.3 7.0 1.8 26

27 Agency- and GSE-backed securities 0.9 4.7 0.4 -0.1 4.6 4.2 -0.9 -5.7 -1.2 5.6 27

28 Municipal securities 1.7 4.6 -3.0 -1.6 13.3 -1.0 -3.5 0.5 5.8 8.2 28

29 Corporate and foreign bonds -1.1 2.7 4.4 5.1 4.5 8.1 7.1 1.9 2.9 11.6 29

30 Mortgages 0.5 1.7 2.1 2.3 1.7 1.8 -2.6 1.0 -0.0 3.4 30

31 Corporate equities (5) -5.2 -4.3 -6.7 -11.7 -16.7 -5.3 -12.6 -14.8 -11.5 -3.5 31

32 Mutual fund shares 2.1 2.2 0.9 2.2 2.2 1.0 -0.0 -1.7 -2.6 -1.5 32

33 Security credit 0.9 0.2 2.2 2.1 -1.8 -0.9 0.5 0.1 -0.2 -1.0 33

34 Life insurance reserves 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 34

35 Pension fund reserves 13.0 15.5 14.5 16.3 18.3 20.5 24.0 43.6 34.5 37.5 35

36 Investment in bank personal trusts 0.0 0.0 0.0 0.0 13.2 4.9 13.5 9.5 13.6 6.4 36

37 Equity in noncorporate business 2.2 2.0 0.2 3.1 -0.7 -0.1 1.3 -5.8 8.9 -28.2 37

38 Miscellaneous assets 1.4 1.3 1.6 1.9 2.2 2.7 2.6 2.9 3.1 2.9 38

39 Net increase in liabilities 29.5 22.9 24.4 34.9 29.7 19.3 46.0 61.9 66.5 56.1 39

40 Credit market instruments 28.5 22.2 20.4 31.3 31.9 19.5 42.3 56.9 69.5 55.7 40

41 Home mortgages (6) 17.2 13.0 13.4 17.2 18.2 12.4 24.6 35.0 40.6 37.4 41

42 Consumer credit 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 42

43 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.9 43

44 Bank loans n.e.c. -0.4 0.7 2.4 -1.3 0.1 -0.7 -0.0 0.3 3.6 5.6 44

45 Other loans and advances 0.8 2.0 1.3 1.7 3.0 2.6 1.4 1.3 2.4 3.2 45

46 Commercial mortgages 0.8 0.6 -1.8 2.9 0.7 0.8 0.7 0.7 0.0 -0.4 46

47 Security credit 0.3 -0.0 3.0 2.6 -3.3 -1.3 2.5 3.6 -4.2 -1.5 47

48 Trade payables 0.4 0.4 0.6 0.6 0.7 0.6 0.9 0.8 0.7 1.2 48

 Deferred and unpaid

49 life insurance premiums 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 49

50 Discrepancy -10.3 -19.5 -13.6 -8.2 -17.2 -14.6 -11.4 -28.4 -30.2 6.7 50

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

(4) Table F.9, line 13 less lines 3, 4, and 9.

(5) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual funds (line 32), life insurance and pension reserves (lines 34 and 35), and bank personal trusts (line 36).

(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.
FFA, 1965-1974, Z.1, December 9, 2004 9

F.101 Nonfinancial Business (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Income before taxes 136.2 145.8 143.6 154.6 154.8 143.4 158.7 182.4 221.0 231.7 1

 2 Gross saving and net capital transfers 72.6 78.7 80.7 83.1 85.0 84.0 97.9 112.8 123.4 123.3 2

 3 Gross investment 65.0 67.1 73.5 74.7 78.3 75.0 91.7 115.9 101.3 122.7 3

 4 Capital expenditures 83.6 97.5 95.2 103.4 115.4 112.9 126.6 144.3 175.9 187.1 4

 5 Fixed investment 76.1 85.9 86.6 94.9 107.3 111.8 119.6 136.2 158.6 169.4 5

 6 Residential 8.4 7.8 7.5 10.0 12.4 12.7 16.9 21.5 21.3 17.4 6

 7 Nonresidential 67.7 78.1 79.0 84.8 94.9 99.1 102.7 114.8 137.3 152.0 7

 8 Change in inventories 9.2 13.6 9.9 9.1 9.2 2.0 8.3 9.1 15.9 14.0 8

 9 Nonproduced nonfinancial assets -1.8 -2.1 -1.2 -0.5 -1.1 -0.9 -1.2 -1.0 1.5 3.8 9

10 Net financial investment -18.5 -30.5 -21.7 -28.7 -37.1 -37.9 -35.0 -28.4 -74.6 -64.4 10

11 Net acquisition of financial assets 28.1 15.5 19.1 32.9 36.2 23.3 51.3 78.3 87.0 55.1 11

12 Foreign deposits -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 12

13 Checkable deposits and currency 0.4 -0.7 2.7 2.9 5.7 1.1 -1.3 2.6 2.0 1.2 13

14 Time and savings deposits 2.3 -0.4 1.1 -0.6 -5.4 3.1 5.8 4.0 6.3 5.4 14

15 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Security RPs 0.3 0.3 -0.2 0.5 2.2 -3.1 0.8 1.6 8.6 -5.8 16

17 Credit market instruments 0.1 -1.0 -1.4 2.7 -0.9 2.7 9.3 3.8 -3.2 8.4 17

18 Commercial paper -0.3 1.5 1.1 1.1 2.5 1.8 1.9 3.0 0.6 4.1 18

19 Treasury securities -1.9 -1.5 -2.3 0.5 -3.1 0.8 3.0 -2.0 -4.3 1.4 19

20 Agency- and GSE-backed securities 0.2 -0.2 -0.0 0.4 0.2 -0.5 -0.3 0.1 1.0 0.9 20

21 Municipal securities 0.9 -1.0 -0.3 0.5 -1.0 -0.6 1.0 1.0 -0.1 0.6 21

22 Mortgages 0.0 0.0 -0.0 -0.0 0.4 0.4 1.2 1.1 0.4 0.5 22

23 Consumer credit 1.2 0.1 0.2 0.1 -0.0 0.9 2.5 0.6 -0.8 0.8 23

24 Mutual fund shares 0.1 0.1 0.1 0.2 0.1 -0.0 -0.1 -0.0 0.2 0.3 24

25 Trade receivables 13.1 12.9 8.9 17.2 23.4 6.9 13.9 27.1 43.2 34.0 25

26 Miscellaneous assets 12.1 4.1 7.9 9.6 11.6 13.0 22.4 38.2 28.8 11.8 26

27 Net increase in liabilities 46.6 45.9 40.8 61.6 73.4 61.2 86.3 106.7 161.7 119.5 27

28 Credit market instruments 29.5 34.6 37.5 37.9 48.1 47.7 51.8 70.2 93.4 94.4 28

29 Commercial paper -0.3 0.8 1.4 1.2 1.1 1.8 -0.9 0.7 1.4 4.1 29

30 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.5 1.8 1.6 30

31 Corporate bonds 4.9 10.2 14.7 12.9 12.0 19.8 18.8 12.2 9.2 19.7 31

32 Bank loans n.e.c. 12.5 10.7 7.9 11.3 16.2 5.3 6.3 15.7 34.4 31.1 32

33 Other loans and advances 2.9 2.7 1.3 3.3 6.9 3.2 3.4 5.2 9.6 12.4 33

34 Mortgages 9.6 10.2 12.2 9.3 11.9 17.7 24.1 35.8 37.0 25.5 34

35 Corporate equities -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 35

36 Trade payables 11.4 7.9 5.8 14.3 20.1 7.2 13.9 24.3 41.5 29.6 36

37 Taxes payable 2.1 -0.9 -4.2 1.1 -1.7 -2.6 4.1 3.9 5.3 8.9 37

38 Miscellaneous liabilities 1.4 1.1 -0.9 5.3 4.1 3.4 3.8 3.2 5.4 11.5 38

39 Proprietors’ net investment 2.2 2.0 0.2 3.1 -0.7 -0.1 1.3 -5.8 8.2 -29.0 39

40 Discrepancy 7.5 11.7 7.2 8.4 6.7 8.9 6.3 -3.1 22.1 0.6 40

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
10 FFA, 1965-1974, Z.1, December 9, 2004

F.102 Nonfarm Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Profits before tax (book) 66.0 71.3 67.5 73.9 71.0 58.5 67.3 78.8 98.6 109.9 1

 2 - Taxes on corporate income 27.0 29.4 27.7 33.5 33.3 27.2 29.9 33.7 40.2 42.7 2

 3 - Net dividends 16.1 16.7 17.2 19.0 19.0 18.3 18.1 19.6 20.7 21.4 3

 4 + Capital consumption allowance (1) 36.6 39.9 43.2 47.0 51.6 55.3 59.6 66.4 71.5 78.9 4

 5 = U.S. internal funds, book 59.3 65.0 65.7 68.4 70.4 68.3 78.9 91.9 109.4 124.7 5

 6 + Foreign earnings retained abroad 1.4 1.7 1.6 2.3 2.8 3.2 3.2 4.7 8.1 7.7 6

 7 + Inventory valuation adjustment (IVA) -1.2 -2.1 -1.6 -3.7 -5.9 -6.6 -4.6 -6.6 -19.6 -38.2 7

 8 + Net capital transfers (2) 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 8

 9 = Total internal funds + IVA 59.6 64.7 65.8 67.2 67.4 65.0 77.6 90.2 98.1 94.4 9

10 Gross investment 52.1 53.0 58.6 58.7 60.7 56.1 71.3 93.3 75.9 93.9 10

11 Capital expenditures 59.8 73.8 71.0 75.2 84.4 81.5 87.0 100.5 124.7 143.8 11

12 Fixed investment (3) 53.6 62.5 63.6 68.4 76.7 79.7 81.9 93.2 109.6 124.1 12

13 Inventory change + IVA 8.0 13.4 8.5 7.3 8.7 2.7 6.3 8.4 13.6 15.9 13

14 Nonproduced nonfinancial assets -1.8 -2.1 -1.2 -0.5 -1.1 -0.9 -1.2 -1.0 1.5 3.8 14

15 Net financial investment -7.8 -20.8 -12.4 -16.5 -23.7 -25.4 -15.7 -7.3 -48.8 -50.0 15

16 Net acquisition of financial assets 27.4 14.4 17.8 33.1 34.2 21.4 41.4 68.2 77.9 50.3 16

17 Foreign deposits -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 17

18 Checkable deposits and currency 0.3 -0.7 2.5 2.7 5.6 0.9 -1.5 2.4 1.4 1.2 18

19 Time and savings deposits 2.3 -0.4 1.1 -0.6 -5.4 1.7 4.2 2.4 4.7 3.8 19

20 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Security RPs 0.3 0.3 -0.2 0.5 2.2 -3.1 0.8 1.6 8.6 -5.8 21

22 Commercial paper -0.3 1.5 1.1 1.1 2.5 1.8 1.9 3.0 0.6 4.1 22

23 Treasury securities -1.9 -1.5 -2.4 0.3 -3.3 0.6 2.8 -2.2 -4.4 1.4 23

24 Agency- and GSE-backed securities 0.2 -0.2 -0.0 0.4 0.2 -0.5 -0.3 0.1 1.0 0.9 24

25 Municipal securities 0.9 -1.0 -0.3 0.5 -1.0 -0.6 1.0 1.0 -0.1 0.6 25

26 Mortgages 0.0 0.0 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.1 0.4 26

27 Consumer credit 0.9 0.2 0.3 0.1 0.1 0.7 2.7 0.7 -0.6 1.1 27

28 Trade receivables 13.3 12.4 8.3 18.5 22.9 8.3 12.4 26.4 40.9 31.8 28

29 Mutual fund shares 0.1 0.1 0.1 0.2 0.1 -0.0 -0.1 -0.0 0.2 0.3 29

30 Miscellaneous assets 11.6 3.5 7.3 8.8 10.5 11.8 17.1 32.0 24.4 10.7 30

31 U.S. direct investment abroad (4) 4.6 4.6 4.1 2.8 4.5 6.3 5.9 5.0 9.2 7.8 31

32 Insurance receivables 0.4 0.6 0.7 0.8 1.1 0.9 1.0 1.9 2.0 2.1 32

33 Equity in GSEs 0.0 0.0 0.0 0.0 0.1 -0.2 0.0 0.0 0.0 0.0 33

34 Investment in finance co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Other 6.6 -1.6 2.5 5.1 4.8 4.9 10.2 25.1 13.2 0.8 35

36 Net increase in liabilities 35.2 35.2 30.2 49.5 57.9 46.8 57.1 75.5 126.7 100.3 36

37 Net funds raised in markets 19.9 25.9 29.4 26.6 36.0 46.8 39.5 49.5 82.9 60.7 37

38 Net new equity issues -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 38

39 Credit market instruments 20.0 24.7 27.0 26.8 32.6 41.1 28.1 38.5 75.0 56.6 39

40 Commercial paper -0.3 0.8 1.4 1.2 1.1 1.8 -0.9 0.7 1.4 4.1 40

41 Municipal securities (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.5 1.8 1.6 41

42 Corporate bonds (4) 4.9 10.2 14.7 12.9 12.0 19.8 18.8 12.2 9.2 19.7 42

43 Bank loans n.e.c. 10.8 8.4 6.5 9.8 13.4 4.8 4.1 12.8 26.6 22.7 43

44 Other loans and advances 2.1 1.7 0.1 2.4 5.3 1.5 2.1 4.0 5.9 8.7 44

45 Savings institutions -0.0 0.1 0.0 0.0 0.0 0.1 0.1 -0.1 -0.1 0.0 45

46 Finance companies 1.8 1.0 -0.3 2.0 4.5 0.3 1.2 3.8 4.5 4.4 46

47 U.S. government 0.3 0.4 0.2 0.2 0.1 0.3 0.2 0.2 0.3 1.5 47

48 Acceptance liabilities to banks 0.1 0.3 0.2 0.3 0.7 0.8 0.5 0.1 1.1 2.5 48

49 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 49

50 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

51 Mortgages 2.5 3.6 4.3 0.4 0.8 13.2 4.0 8.2 30.2 -0.1 51

52 Trade payables 11.7 9.1 5.9 16.5 19.5 7.9 13.6 23.1 38.1 26.4 52

53 Taxes payable 2.1 -0.9 -4.2 1.1 -1.7 -2.6 3.1 2.4 3.8 7.4 53

54 Miscellaneous liabilities 1.4 1.1 -0.9 5.3 4.1 -5.2 0.9 0.5 2.0 5.8 54

55 Foreign direct investment in U.S. 0.5 0.4 0.7 0.8 1.2 1.4 0.3 0.9 2.5 4.6 55

56 Pension fund contributions payable 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 56

57 Other 0.8 0.7 -1.8 4.4 2.9 -6.8 0.2 -0.9 -0.6 1.2 57

58 Discrepancy 7.5 11.7 7.2 8.4 6.7 8.9 6.3 -3.1 22.1 0.6 58

 Memo:

59 Financing gap (6) 1.7 10.9 6.8 10.4 19.8 19.8 12.7 15.2 34.9 57.3 59

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

(2) Table F.9, line 7.

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

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

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

(6) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
FFA, 1965-1974, Z.1, December 9, 2004 11

F.103 Nonfarm Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net income with IVA and CCAdj 58.4 61.8 64.7 69.2 71.1 72.2 78.2 86.8 93.5 98.6 1

 2 Gross saving = capital consumption 9.5 10.4 11.0 11.8 13.1 14.2 15.4 17.1 18.9 21.7 2

 3 Gross investment 9.5 10.4 11.0 11.8 13.1 14.2 15.4 17.1 18.9 21.7 3

 4 Capital expenditures 17.7 18.6 17.4 21.1 25.0 25.5 31.0 36.1 39.7 34.9 4

 5 Fixed investment (1) 17.3 17.8 16.9 20.7 24.5 25.4 30.7 35.7 39.0 34.0 5

 6 Change in inventories 0.4 0.7 0.4 0.4 0.5 0.1 0.3 0.4 0.7 0.8 6

 7 Net financial investment -8.2 -8.2 -6.4 -9.3 -11.9 -11.4 -15.7 -19.1 -20.8 -13.2 7

 8 Net acquisition of financial assets 0.4 0.9 0.9 -0.7 1.5 1.3 9.2 9.1 8.3 4.3 8

 9 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.3 9

10 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 1.4 1.6 1.6 1.6 1.6 10

11 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Treasury securities 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.1 12

13 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Mortgages 0.0 0.0 0.0 0.0 0.3 0.4 1.2 1.1 0.3 0.1 14

15 Consumer credit 0.3 -0.1 -0.1 -0.0 -0.1 0.1 -0.1 -0.1 -0.2 -0.4 15

16 Trade receivables -0.2 0.6 0.5 -1.4 0.5 -1.5 1.5 0.6 2.3 2.2 16

17 Miscellaneous assets 0.3 0.4 0.4 0.5 0.7 0.7 4.8 5.6 3.8 0.4 17

18 Insurance receivables 0.3 0.4 0.4 0.5 0.7 0.7 0.8 1.0 1.0 1.0 18

19 Equity investment in GSEs (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Other 0.0 0.0 0.0 0.0 0.0 0.0 4.0 4.6 2.8 -0.7 20

21 Net increase in liabilities 8.6 9.1 7.3 8.6 13.4 12.7 24.8 28.2 29.1 17.5 21

22 Credit market instruments 6.2 6.7 7.2 8.4 12.5 4.0 19.0 26.4 9.6 29.9 22

23 Bank loans n.e.c. 0.9 1.4 0.7 1.1 2.2 -0.4 0.9 1.1 5.0 7.3 23

24 Other loans and advances 0.5 0.6 0.6 0.6 1.0 1.0 0.6 0.7 2.2 2.0 24

25 Mortgages 4.8 4.8 6.0 6.7 9.3 3.3 17.5 24.6 2.4 20.5 25

26 Trade payables -0.9 -1.5 0.1 -1.0 1.0 -0.4 -0.4 0.7 2.6 2.5 26

27 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.5 1.5 1.6 27

28 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 8.6 2.9 2.7 3.4 5.7 28

29 Proprietors’ net investment 3.2 3.9 -0.0 1.2 -0.2 0.5 2.3 -3.1 12.0 -22.2 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

 1 Proprietors’ net income with IVA and CCAdj 11.8 12.8 11.5 11.5 12.7 12.7 13.2 16.8 28.9 23.2 1

 2 Net saving (corporate) 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.2 0.7 0.3 2

 3 Consumption of fixed capital 3.3 3.6 3.9 4.0 4.4 4.7 4.9 5.4 5.8 6.9 3

 4 Corporate 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.5 4

 5 Noncorporate 3.1 3.4 3.7 3.8 4.1 4.4 4.6 5.0 5.4 6.4 5

 6 Gross saving 3.4 3.7 3.9 4.1 4.5 4.8 4.9 5.6 6.5 7.2 6

 7 Gross investment 3.4 3.7 3.9 4.1 4.5 4.8 4.9 5.6 6.5 7.2 7

 8 Capital expenditures 6.0 5.1 6.9 7.1 6.1 5.9 8.6 7.7 11.5 8.5 8

 9 Fixed investment (2) 5.2 5.6 6.0 5.7 6.1 6.7 6.9 7.4 10.0 11.3 9

10 Change in inventories 0.8 -0.5 0.9 1.4 0.0 -0.8 1.7 0.3 1.5 -2.8 10

11 Net financial investment -2.5 -1.5 -2.9 -3.0 -1.6 -1.1 -3.6 -2.1 -5.1 -1.3 11

12 Net acquisition of financial assets 0.3 0.2 0.4 0.6 0.5 0.6 0.7 1.0 0.8 0.5 12

13 Checkable deposits and currency 0.1 0.0 0.1 0.2 0.1 0.1 0.2 0.3 0.2 -0.3 13

14 Miscellaneous assets 0.2 0.2 0.3 0.4 0.4 0.5 0.6 0.7 0.6 0.8 14

15 Insurance receivables 0.1 0.2 0.2 0.3 0.4 0.4 0.5 0.6 0.5 0.5 15

16 Equity investment in GSEs (3) 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2 0.2 16

17 Net increase in liabilities 2.8 1.7 3.4 3.5 2.1 1.7 4.4 3.0 5.9 1.8 17

18 Credit market instruments 3.3 3.2 3.3 2.8 3.0 2.6 4.7 5.3 8.8 7.9 18

19 Bank loans n.e.c. 0.7 0.9 0.7 0.4 0.6 0.8 1.3 1.8 2.9 1.1 19

20 Other loans and advances 0.3 0.4 0.6 0.2 0.6 0.6 0.7 0.5 1.5 1.7 20

21 Mortgages 2.2 1.9 2.0 2.2 1.8 1.1 2.6 3.0 4.4 5.1 21

22 Trade payables 0.6 0.4 -0.2 -1.1 -0.4 -0.3 0.7 0.5 0.8 0.7 22

23 Proprietors’ net investment -1.0 -1.9 0.2 1.9 -0.5 -0.6 -1.0 -2.7 -3.8 -6.8 23

(1) Corporate and noncorporate farms.

(2) Nonresidential fixed investment, shown in table F.6, line 12.

(3) Equity in the Farm Credit System.
12 FFA, 1965-1974, Z.1, December 9, 2004

F.105 State and Local Governments, Excluding Employee Retirement Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Current receipts, NIPA basis 66.5 74.9 82.6 93.6 105.5 120.1 135.0 158.5 174.4 188.0 1

 2 Personal current taxes 6.6 7.8 8.6 10.6 12.8 14.2 15.9 20.9 22.8 24.6 2

 3 Taxes on production and imports 45.3 48.8 52.8 59.5 66.1 73.3 81.5 89.5 97.4 104.8 3

 4 Taxes on corporate income 2.0 2.3 2.6 3.3 3.6 3.7 4.3 5.2 6.0 6.7 4

 5 Contributions for govt. social insurance 0.8 0.8 0.9 1.0 1.0 1.1 1.2 1.3 1.5 1.7 5

 6 Income receipts on assets 2.1 2.6 3.0 3.5 4.4 5.1 5.5 6.0 7.7 10.2 6

 7 Current transfer receipts 8.0 11.1 13.2 14.2 16.2 21.1 25.3 34.1 37.4 39.3 7

 8 Current surplus of government enterprises 1.7 1.6 1.6 1.5 1.5 1.5 1.4 1.6 1.5 0.9 8

 9 Current expenditures, NIPA basis 60.0 67.2 75.5 86.0 97.4 113.0 128.4 142.9 158.7 178.7 9

10 Consumption expenditures 50.2 56.1 62.6 70.4 79.9 91.5 102.7 113.2 126.0 143.8 10

11 Govt. social benefit payments to persons 6.7 7.6 9.2 11.5 13.2 16.1 19.3 22.0 24.1 25.3 11

12 Interest payments 3.2 3.4 3.7 4.2 4.4 5.3 6.6 7.5 8.5 9.6 12

13 Subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 13

14 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.2 -0.2 -0.0 0.0 14

15 Net state and local govt. saving, NIPA basis 6.5 7.7 7.1 7.6 8.1 7.1 6.6 15.6 15.7 9.3 15

16 + Consumption of fixed capital 6.2 6.9 7.5 8.3 9.3 10.6 11.8 12.8 14.3 17.7 16

17 + Net capital transfers (2) 4.7 5.1 5.1 6.8 6.8 6.2 7.0 7.3 7.3 9.2 17

18 = Gross saving and net capital transfers 17.4 19.8 19.7 22.7 24.2 23.9 25.4 35.7 37.3 36.1 18

19 Gross investment 16.3 17.1 17.7 20.6 17.5 16.1 18.3 29.3 36.0 27.8 19

20 Fixed investment 20.9 23.1 25.3 27.7 28.3 28.8 30.1 30.7 33.2 39.6 20

21 Nonproduced nonfinancial assets 1.3 1.4 1.4 1.4 1.0 1.1 1.6 1.7 1.7 1.9 21

22 Net financial investment -5.9 -7.4 -9.0 -8.5 -11.7 -13.8 -13.4 -3.0 1.0 -13.7 22

23 Net acq. of financial assets 6.2 4.0 3.4 5.8 6.1 4.2 9.2 17.0 22.2 9.5 23

24 Checkable deposits and currency -0.6 0.5 0.8 -0.7 1.9 -1.0 0.8 0.5 0.0 0.2 24

25 Time and savings deposits 2.4 1.3 2.3 3.1 -5.8 10.0 7.2 6.7 6.6 5.0 25

26 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Security RPs 1.1 1.5 -0.5 -1.5 3.9 -4.0 0.6 -0.1 1.4 -1.8 27

28 Credit market instruments 2.5 -0.0 0.2 3.8 5.0 -1.3 -1.7 6.7 9.7 6.5 28

29 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Treasury securities 2.2 0.6 -0.4 0.2 3.1 -0.1 -0.4 2.3 1.2 0.5 30

31 Agency- and GSE-backed securities 0.2 -0.7 0.4 3.4 1.4 -2.3 -2.2 3.3 6.6 3.1 31

32 Municipal securities -0.1 -0.0 0.0 0.0 0.1 0.1 -0.3 -0.3 0.2 0.5 32

33 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

34 Mortgages 0.2 0.2 0.1 0.2 0.5 0.9 1.1 1.4 1.7 2.5 34

35 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Trade receivables 0.8 0.6 0.6 0.9 1.2 0.6 0.9 1.5 2.8 -2.0 37

38 Taxes receivable 0.1 0.0 0.1 0.2 0.0 0.1 1.3 1.8 1.6 1.7 38

39 Miscellaneous assets 0.0 0.1 0.0 -0.1 -0.1 -0.0 0.1 -0.1 -0.0 -0.1 39

40 Net increase in liabilities 12.0 11.4 12.4 14.3 17.8 18.0 22.6 20.0 21.2 23.3 40

41 Credit market instruments 7.6 6.9 7.3 8.8 12.1 12.1 16.4 14.0 14.1 13.4 41

42 Municipal securities 7.2 6.2 7.2 8.4 11.4 12.0 16.1 13.6 13.8 12.8 42

43 Short-term 0.6 0.7 1.8 0.1 2.8 2.3 2.5 0.1 0.3 2.7 43

44 Other 6.6 5.6 5.3 8.3 8.6 9.6 13.6 13.6 13.5 10.0 44

45 U.S. government loans 0.3 0.6 0.2 0.3 0.7 0.1 0.4 0.3 0.3 0.7 45

46 Trade payables 4.5 4.6 5.1 5.5 5.7 5.9 6.1 6.1 7.1 9.8 46

47 Discrepancy 1.1 2.7 2.0 2.1 6.7 7.8 7.0 6.3 1.4 8.4 47

(1) Data for retirement funds are shown in table F.120.

(2) Table F.9, line 8.
FFA, 1965-1974, Z.1, December 9, 2004 13

F.106 Federal Government

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Current receipts, NIPA basis 121.0 137.8 147.0 171.2 192.6 186.1 191.8 220.1 250.5 279.6 1

 2 Personal current taxes 51.1 58.6 64.4 76.4 91.7 88.9 85.8 102.8 109.6 126.5 2

 3 Taxes on production and imports 15.5 14.5 15.3 17.0 17.9 18.2 19.1 18.6 19.9 20.2 3

 4 Taxes on corporate income 28.9 31.4 30.1 36.1 36.1 30.6 33.5 36.6 43.3 45.1 4

 5 Taxes from the rest of the world 0.2 0.2 0.2 0.3 0.4 0.4 0.4 0.4 0.4 0.4 5

 6 Contributions for govt. social insurance 22.7 30.5 34.0 37.8 43.1 45.3 50.0 57.9 74.0 83.5 6

 7 Income receipts on assets 1.9 2.1 2.6 2.9 2.7 3.1 3.5 3.7 3.8 4.2 7

 8 Current transfer receipts 1.1 1.1 1.2 1.1 1.2 1.2 1.1 1.3 1.3 1.4 8

 9 Current surplus of government enterprises -0.4 -0.7 -0.7 -0.4 -0.4 -1.5 -1.6 -1.1 -1.8 -1.8 9

10 Current expenditures, NIPA basis 117.7 135.6 156.3 173.5 183.8 201.1 220.1 244.4 261.7 293.4 10

11 Consumption expenditures 65.7 75.9 87.2 95.4 98.4 98.6 102.0 107.7 108.9 118.0 11

12 Government social benefits 27.6 30.2 36.9 42.2 46.1 56.1 66.6 73.3 85.2 103.9 12

13 Other current transfer payments 10.7 14.0 15.7 17.1 19.0 23.9 29.0 38.6 39.7 41.8 13

14 Interest payments 10.6 11.6 12.7 14.6 15.8 17.8 17.9 18.8 22.8 26.0 14

15 Subsidies 3.0 3.9 3.8 4.2 4.5 4.8 4.7 6.6 5.2 3.2 15

16 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.0 -0.5 16

17 Net federal government saving, NIPA basis 3.4 2.2 -9.3 -2.3 8.9 -15.0 -28.3 -24.3 -11.2 -13.8 17

18 + Consumption of fixed capital 12.7 13.2 14.0 14.8 15.5 16.1 16.5 16.6 17.1 18.2 18

19 - Insurance and pension reserves (1) 0.3 0.3 0.3 0.1 0.1 0.2 -0.1 0.1 -0.0 -0.1 19

20 + Net capital transfers (2) -1.2 -1.3 -1.2 -2.9 -2.3 -1.6 -1.3 -0.7 -0.9 -3.1 20

21 = Gross saving and net capital transfers 14.5 13.8 3.2 9.6 21.9 -0.7 -13.1 -8.4 5.0 1.4 21

22 Gross investment 14.6 15.8 3.7 6.4 20.8 1.6 -12.1 -7.2 4.8 0.7 22

23 Fixed investment 14.7 16.7 17.7 16.0 15.0 14.8 11.7 12.0 13.6 16.6 23

24 Nonproduced nonfinancial assets 0.5 0.7 -0.2 -0.9 0.1 -0.3 -0.4 -0.7 -3.2 -5.7 24

25 Net financial investment -0.5 -1.6 -13.7 -8.7 5.8 -13.0 -23.4 -18.4 -5.6 -10.3 25

26 Net acq. of financial assets 3.3 4.7 2.0 6.3 4.0 1.7 4.8 0.5 4.8 4.3 26

27 Gold, SDRs, and official foreign exchange 0.3 -0.3 0.6 1.9 1.6 -1.8 -1.6 0.5 -0.1 1.4 27

28 Checkable deposits and currency -1.6 -0.4 0.5 -2.3 1.6 3.5 3.5 -1.0 -1.8 -4.6 28

29 Time and savings deposits -0.0 -0.0 0.0 0.1 -0.2 0.3 0.1 0.1 -0.2 0.0 29

30 Credit market instruments 2.9 5.1 4.6 5.2 3.1 2.8 2.8 1.8 3.9 6.2 30

31 Agency- and GSE-backed securities 0.0 1.3 -0.1 0.1 -1.3 -0.1 0.0 -0.0 -0.0 -0.0 31

32 Other loans and advances 2.9 2.8 3.8 3.7 3.5 2.6 3.2 2.5 4.5 3.5 32

33 Mortgages -0.0 1.0 0.9 1.4 1.0 0.3 -0.4 -0.7 -0.6 2.7 33

34 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Trade receivables 0.4 1.2 1.5 0.6 0.9 -0.8 -1.7 -0.8 0.3 1.0 35

36 Taxes receivable 1.3 -1.4 -5.1 0.9 -3.1 -2.6 1.6 -0.2 1.6 0.1 36

37 Miscellaneous assets 0.1 0.4 -0.1 -0.2 0.1 0.3 0.1 0.1 1.0 0.1 37

38 Net increase in liabilities 3.8 6.3 15.7 15.0 -1.7 14.7 28.1 19.0 10.4 14.7 38

39 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 39

40 Treasury currency 0.2 0.9 0.7 0.4 0.3 0.2 0.5 0.5 0.4 0.4 40

41 Credit market instruments 1.6 3.6 12.9 12.5 -3.2 12.1 24.9 15.0 6.9 11.9 41

42 Savings bonds 0.6 0.6 1.0 0.6 -0.1 0.3 2.3 3.3 2.7 3.0 42

43 Other Treasury securities 0.5 1.7 7.9 8.8 -0.7 12.8 23.7 10.9 3.9 9.1 43

44 Budget agency securities 0.4 1.4 4.2 3.2 -2.3 -1.0 -1.1 0.9 0.4 -0.1 44

45 Multifamily residential mortgages 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 45

46 Trade payables 0.6 0.8 0.7 -0.0 -0.1 -1.0 -1.0 0.3 1.1 -0.5 46

47 Insurance reserves 0.1 0.1 0.1 -0.0 0.1 0.1 0.1 0.2 0.2 0.1 47

48 Miscellaneous liabilities (4) 1.3 0.9 1.4 2.1 1.2 2.9 3.7 3.0 1.8 2.7 48

49 Nonmarketable securities held by pension plans 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 49

50 Other -0.1 -0.4 0.1 0.7 -0.4 0.5 0.8 0.0 -0.4 -0.0 50

51 Discrepancy -0.2 -2.0 -0.5 3.2 1.1 -2.3 -1.0 -1.3 0.2 0.7 51

 Memo:

52 Change in cash balance (5) -1.2 -0.4 1.2 -1.2 0.5 2.8 3.2 -0.3 -1.7 -4.6 52

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

(2) Table F.9, line 2.

(3) Student loans.

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

 and disability fund.

(5) Time and savings deposits (line 29) plus checkable deposit and currency liabilities of the monetary authority and commercial banking sectors (table F.204, lines 3 and 7).
14 FFA, 1965-1974, Z.1, December 9, 2004

F.107 Rest of the World

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Foreign income from U.S. 38.8 45.1 48.6 56.2 61.9 68.5 76.4 90.7 109.5 149.9 1

 2 U.S. imports 31.5 37.1 39.9 46.6 50.5 55.8 62.4 74.2 91.2 127.5 2

 3 U.S. income payments to rest of world 2.6 3.0 3.3 4.0 5.7 6.4 6.4 7.7 10.9 14.3 3

 4 Current taxes and trans. payments to rest of world 4.7 5.1 5.4 5.7 5.8 6.3 7.6 8.8 7.4 8.1 4

 5 Foreign outlays to U.S. 45.0 49.0 52.1 58.0 63.7 72.6 77.0 87.1 118.8 156.5 5

 6 U.S. exports 37.2 40.9 43.5 47.9 51.9 59.7 63.0 70.9 95.3 126.7 6

 7 U.S. income receipts from rest of world 7.9 8.1 8.7 10.1 11.8 12.9 14.0 16.3 23.5 29.8 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 8

 9 Gross saving and net capital transfers (2) -6.3 -3.9 -3.6 -1.8 -1.8 -4.1 -0.6 3.6 -9.3 -6.6 9

10 Gross investment -5.0 -3.7 -2.4 -1.0 1.1 -2.1 11.2 7.7 -4.5 0.6 10

11 Nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Net financial investment -5.0 -3.7 -2.4 -1.0 1.1 -2.1 11.2 7.7 -4.5 0.6 12

13 Net acquisition of financial assets 2.4 3.9 8.2 9.1 10.9 5.3 21.8 18.9 13.1 26.8 13

14 Gold and SDRs (3) 1.7 0.6 1.2 1.2 -1.0 -0.1 0.6 -0.2 0.0 -0.2 14

15 Net interbank assets 0.1 2.9 0.6 2.1 12.3 -6.4 -4.6 -0.7 -5.2 -1.2 15

16 U.S. checkable deposits and currency 0.3 0.7 0.6 0.9 0.8 1.0 0.3 2.2 3.6 3.9 16

17 U.S. time deposits 0.6 0.3 1.3 -0.3 1.4 -1.7 0.3 2.9 2.8 7.7 17

18 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.0 18

19 Credit market instruments 0.3 -0.7 2.4 0.5 -0.5 11.0 26.7 8.6 0.9 5.9 19

20 Open market paper 0.4 0.2 0.0 0.6 1.0 0.5 -0.2 -0.1 0.3 0.4 20

21 Treasury securities -0.3 -1.9 2.1 -0.6 -2.4 9.5 26.5 8.4 0.4 4.9 21

22 Official -0.1 -1.5 2.3 -0.8 -2.3 9.4 26.6 8.5 0.6 4.2 22

23 Private -0.1 -0.4 -0.1 0.1 -0.1 0.1 -0.0 -0.0 -0.2 0.7 23

24 Agency- and GSE-backed securities 0.3 0.3 0.3 0.3 0.3 0.3 0.0 0.1 0.1 -0.5 24

25 Official -0.0 0.0 0.0 0.0 -0.1 0.0 -0.0 0.3 0.6 0.9 25

26 Private 0.3 0.3 0.3 0.3 0.4 0.3 0.0 -0.1 -0.5 -1.4 26

27 U.S. corporate bonds (4) -0.1 0.6 -0.1 0.2 0.5 0.7 0.3 0.1 0.1 0.9 27

28 Loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 28

29 U.S. corporate equities -0.4 -0.3 0.7 2.1 1.6 0.7 0.8 2.4 2.8 0.2 29

30 Trade receivables 0.2 0.6 0.7 1.5 1.0 1.6 -0.1 1.0 2.0 2.1 30

31 Security credit 0.0 0.0 0.1 0.3 -0.2 -0.1 -0.0 0.1 -0.0 -0.0 31

32 Miscellaneous assets -0.4 -0.2 0.7 0.8 -4.5 -0.7 -2.2 2.6 5.8 8.3 32

33 Foreign direct investment in U.S. (5) 0.4 0.4 0.7 0.8 1.3 1.5 0.4 0.9 2.8 4.8 33

34 Other -0.8 -0.6 0.0 0.0 -5.7 -2.2 -2.6 1.7 3.0 3.6 34

35 Net increase in liabilities 7.4 7.5 10.6 10.1 9.8 7.4 10.6 11.2 17.6 26.2 35

 U.S. official foreign exchange

36 and net IMF position 0.4 0.0 1.1 2.0 0.2 -2.5 -1.7 -0.2 -0.1 1.3 36

37 U.S. private deposits -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 37

38 Credit market instruments 2.5 1.9 3.9 2.7 3.2 2.8 5.1 4.4 6.3 13.8 38

39 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 39

40 Bonds 0.5 0.7 1.2 1.1 1.0 0.9 0.9 1.0 1.0 2.4 40

41 Bank loans n.e.c. 0.6 -0.1 -0.4 -0.4 -0.3 -0.2 2.0 3.0 2.7 4.7 41

42 Official 0.1 -0.1 0.0 -0.2 -0.0 -0.1 0.2 0.2 0.4 0.3 42

43 Banks 0.2 0.1 -0.4 0.1 0.2 -0.1 0.9 1.1 1.6 3.1 43

44 Other 0.3 -0.1 0.0 -0.3 -0.4 0.0 0.9 1.7 0.7 1.3 44

45 U.S. government loans 1.5 1.3 2.6 2.2 2.1 1.3 1.8 1.5 1.7 -0.5 45

46 Acceptance liabilities to banks -0.1 -0.1 0.5 -0.2 0.3 0.8 0.3 -1.0 0.9 7.1 46

47 Foreign corporate equities (6) 0.3 -0.0 0.1 0.5 0.5 0.2 0.2 -0.4 -0.3 -0.5 47

48 Trade payables -0.1 0.3 0.5 0.4 0.8 1.0 0.5 0.5 1.9 3.1 48

49 Security debt 0.0 0.0 0.2 0.2 -0.2 0.0 0.0 0.1 -0.2 -0.0 49

50 Miscellaneous liabilities 4.5 5.2 4.7 3.7 5.7 6.4 6.1 5.8 8.8 8.8 50

51 U.S. equity in IBRD, etc. 0.1 0.0 0.1 0.1 0.2 0.2 0.3 0.3 0.3 0.6 51

52 U.S. government deposits 0.0 0.3 -0.2 -0.1 -0.1 0.0 -0.2 -0.2 0.6 -0.5 52

53 U.S. direct investment abroad (4,5) 4.8 4.8 4.4 3.2 4.9 6.8 6.5 5.7 10.1 8.9 53

54 Other -0.4 0.1 0.5 0.5 0.7 -0.6 -0.5 -0.0 -2.2 -0.2 54

55 Discrepancy (FOF basis) (7) -1.3 -0.2 -1.2 -0.7 -2.9 -2.0 -11.8 -4.1 -4.8 -7.2 55

 Memo:

56 Net U.S. exports, NIPA basis 5.6 3.9 3.6 1.4 1.4 4.0 0.6 -3.4 4.1 -0.8 56

57 + Net U.S. income receipts (8) 5.3 5.1 5.4 6.1 6.1 6.4 7.6 8.6 12.6 15.5 57

58 - Current taxes and trans. payments to rest of world 4.7 5.1 5.4 5.7 5.8 6.3 7.6 8.8 7.4 8.1 58

59 = Balance on current account, NIPAs 6.3 3.9 3.6 1.8 1.8 4.1 0.6 -3.6 9.3 6.6 59

(1) Table F.9, line 11.

(2) Line 1 minus line 5 plus line 8; equals net lending or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 59 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.
FFA, 1965-1974, Z.1, December 9, 2004 15

F.108 Monetary Authority (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 2

 3 Net acquisition of financial assets 2.3 4.5 4.8 4.0 4.0 5.4 8.5 2.2 8.1 6.5 3

 4 Gold and foreign exchange -1.5 -0.3 -0.7 -1.0 -0.4 -0.7 -0.8 -0.5 -0.1 0.1 4

 5 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 5

 6 Treasury currency 0.2 0.7 0.5 0.2 0.1 0.3 0.5 0.7 0.4 0.5 6

 7 Federal Reserve float -0.4 0.3 -0.0 1.0 -0.0 0.8 0.1 -0.4 -0.9 -1.1 7

 8 Fed. Res. loans to domestic banks -0.1 0.1 -0.0 0.0 -0.0 0.2 -0.3 1.9 -0.7 -1.0 8

 9 Security RPs -0.2 0.4 -0.5 -0.3 0.0 0.0 1.5 -1.4 -0.0 1.3 9

10 Credit market instruments 4.0 3.1 5.3 3.9 4.2 5.0 7.4 1.6 9.3 4.9 10

11 Acceptances 0.0 -0.0 0.0 -0.0 0.0 -0.0 0.0 -0.0 -0.0 0.5 11

12 Treasury securities 4.0 3.2 5.3 4.0 4.2 5.0 6.9 0.8 8.7 1.6 12

13 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.8 0.6 2.8 13

14 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 14

15 Miscellaneous assets 0.3 0.2 0.2 0.1 0.2 -0.5 0.1 0.2 0.2 1.8 15

16 Net increase in liabilities 2.3 4.4 4.8 3.9 4.0 5.4 8.4 2.1 8.1 6.5 16

17 Depository institution reserves 0.4 1.3 1.3 0.8 0.2 2.1 3.6 -2.1 1.4 -1.2 17

18 Vault cash of commercial banks 0.3 0.6 0.5 1.3 0.1 -0.3 0.5 1.1 2.0 1.0 18

19 Checkable deposits and currency 1.9 2.4 2.9 1.5 3.3 3.1 4.5 3.1 3.4 6.9 19

20 Due to federal government -0.2 0.2 0.9 -1.1 0.6 -0.4 0.9 -1.1 -0.5 0.4 20

21 Due to rest of the world -0.1 0.2 -0.0 0.1 -0.1 -0.0 0.1 -0.1 -0.1 0.2 21

22 Currency outside banks 2.1 2.0 2.0 2.5 2.8 3.5 3.5 4.3 3.9 6.3 22

23 Miscellaneous liabilities -0.3 0.1 0.1 0.4 0.3 0.5 -0.2 0.0 1.3 -0.2 23

24 Federal Reserve Bank stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 24

25 Other -0.3 0.1 0.1 0.3 0.3 0.5 -0.2 -0.0 1.2 -0.2 25

26 Discrepancy -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.2 -0.0 0.0 -0.0 26

(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.
16 FFA, 1965-1974, Z.1, December 9, 2004

F.109 Commercial Banking (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 3.0 2.8 2.6 3.4 4.3 4.2 3.7 4.0 4.8 5.9 1

 2 Fixed nonresidential investment 0.9 1.0 1.0 1.3 1.6 1.6 2.1 2.0 3.0 4.2 2

 3 Net acquisition of financial assets 30.1 21.3 40.3 44.6 24.0 45.8 61.0 84.9 97.7 74.2 3

 4 Vault cash 0.3 0.6 0.5 1.3 0.1 -0.3 0.5 1.1 2.0 1.0 4

 5 Reserves at Federal Reserve 0.4 1.3 1.3 0.8 0.2 2.1 3.6 -2.1 1.4 -1.2 5

 6 Checkable deposits and currency -0.0 0.0 0.1 0.0 0.0 0.1 0.1 0.2 0.3 -0.2 6

 7 Total bank credit 28.8 18.4 37.5 40.1 17.9 36.8 51.1 74.9 81.3 64.6 7

 8 Treasury securities -3.4 -3.4 6.5 2.1 -9.7 6.9 3.1 2.4 -8.9 -4.1 8

 9 Agency- and GSE-backed securities 0.6 0.3 3.0 1.3 -0.3 3.8 4.0 4.1 7.6 3.6 9

10 Municipal securities 5.1 2.4 9.1 8.6 0.6 10.7 12.6 7.2 5.7 5.4 10

11 Corporate and foreign bonds -0.1 0.1 0.9 0.2 -0.1 1.1 0.9 1.3 0.3 1.0 11

12 Total loans 26.5 19.1 17.9 28.0 27.4 14.3 30.4 60.0 76.5 58.6 12

13 Open market paper -0.5 -0.0 1.0 0.0 0.6 1.4 0.5 0.0 -0.5 1.4 13

14 Bank loans n.e.c. 16.1 10.9 7.4 13.3 17.5 6.5 10.5 25.7 48.0 42.0 14

15 Mortgages 5.7 4.7 4.5 6.6 5.4 2.8 10.0 16.8 19.8 12.8 15

16 Consumer credit 5.4 3.0 3.5 6.8 4.9 2.2 8.7 12.7 12.6 3.4 16

17 Security credit -0.2 0.6 1.5 1.3 -1.1 1.4 0.8 4.8 -3.4 -1.0 17

18 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 18

19 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Customers’ liab. on acceptances (2) 0.0 0.2 0.7 0.1 1.0 1.6 0.8 -1.0 2.0 9.6 20

21 Miscellaneous assets 0.6 0.7 0.3 2.3 4.7 5.5 4.8 11.8 10.7 0.5 21

22 Net increase in liabilities 28.8 20.1 38.6 42.8 25.8 50.2 64.4 88.9 98.8 78.0 22

23 Net interbank liabilities -0.1 4.0 0.5 3.8 12.1 -4.8 -5.9 -3.8 -6.2 -0.8 23

24 To monetary authority -0.4 0.3 -0.1 1.0 -0.0 1.0 -0.2 1.6 -1.6 -2.1 24

25 To domestic banks (3) 0.2 0.8 0.0 0.6 -0.1 0.6 -1.0 -4.6 0.6 2.5 25

26 To foreign banks 0.1 2.9 0.6 2.1 12.3 -6.4 -4.6 -0.7 -5.2 -1.2 26

27 Checkable deposits 5.4 2.1 12.4 13.5 4.8 9.7 13.5 21.2 13.1 -0.1 27

28 Federal government -1.0 -0.5 0.2 -0.2 0.0 2.9 2.2 0.7 -1.0 -5.1 28

29 Rest of the world 0.2 0.2 0.3 0.5 0.4 0.6 -0.3 1.7 3.0 2.6 29

30 Private domestic 6.2 2.4 11.8 13.3 4.3 6.2 11.6 18.8 11.1 2.3 30

31 Small time and savings deposits 14.2 11.0 18.1 13.9 6.5 14.3 28.7 25.7 12.8 17.4 31

32 Large time deposits 5.9 2.3 5.9 6.7 -15.1 23.5 12.7 16.8 38.0 39.3 32

33 Federal funds and security RPs (net) 1.2 -0.1 -0.0 0.9 5.9 -4.1 4.0 2.2 16.3 1.4 33

34 Credit market instruments 0.8 0.3 1.0 0.4 5.1 0.9 2.5 2.7 5.2 14.3 34

35 Open market paper 0.0 0.2 0.7 0.1 5.3 -0.3 0.5 -0.3 4.3 13.1 35

36 Corporate bonds 0.8 0.1 0.3 0.3 -0.2 1.2 2.0 3.1 0.9 1.1 36

37 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 Corporate equity issues -0.1 -0.0 -0.0 -0.1 -0.0 0.1 0.6 1.2 1.2 1.0 38

39 Taxes payable -0.1 -0.0 -0.1 -0.1 0.1 0.3 -0.0 -0.2 0.1 0.1 39

40 Miscellaneous liabilities 1.5 0.5 0.8 3.6 6.4 10.2 8.3 23.1 18.4 5.5 40

41 Discrepancy 0.7 0.6 -0.0 0.3 4.4 6.9 5.0 6.0 2.8 5.5 41

 Memo:

42 Credit market funds advanced (4) 28.9 18.0 36.7 38.9 20.0 37.0 51.2 69.2 86.6 75.2 42

(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 17) less corporate equities (line 18) less mutual fund shares (line 19) plus customers’ liability on acceptances (line 20).
FFA, 1965-1974, Z.1, December 9, 2004 17

F.110 U.S.-Chartered Commercial Banks

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 3.0 2.7 2.6 3.4 4.2 4.1 3.7 4.0 4.7 5.8 1

 2 Fixed nonresidential investment 0.9 0.9 0.9 1.2 1.5 1.6 2.0 2.0 2.9 4.0 2

 3 Net acquisition of financial assets 30.0 20.4 39.9 43.4 13.3 37.2 55.6 73.6 80.0 60.4 3

 4 Vault cash and reserves at Federal Reserve 0.7 1.9 1.8 2.0 0.3 1.8 4.1 -1.0 3.5 -0.3 4

 5 Total bank credit 28.7 17.8 36.8 39.7 12.2 34.5 51.1 73.6 75.5 56.0 5

 6 Treasury securities -3.4 -3.4 6.3 2.0 -9.8 7.0 3.2 2.1 -8.8 -3.9 6

 7 Agency- and GSE-backed securities 0.6 0.3 3.0 1.3 -0.3 3.8 4.0 3.9 7.4 3.5 7

 8 Mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Other 0.6 0.3 3.0 1.3 -0.3 3.8 4.0 3.9 7.4 3.5 10

11 Municipal securities 5.1 2.3 9.0 8.6 0.6 10.5 12.8 7.1 5.6 5.1 11

12 Corporate and foreign bonds -0.1 0.0 0.7 0.3 -0.1 0.8 1.2 1.4 0.4 1.0 12

13 Private mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Private CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Other -0.1 0.0 0.7 0.3 -0.1 0.8 1.2 1.4 0.4 1.0 15

16 Total loans 26.6 18.5 17.7 27.6 21.8 12.4 29.8 59.1 70.9 50.3 16

17 Open market paper -0.6 -0.1 0.9 -0.0 0.4 1.0 0.4 -0.1 -0.7 0.8 17

18 Bank loans n.e.c. 16.0 10.5 7.3 12.9 12.3 5.0 10.1 25.1 42.3 34.8 18

19 Mortgages 5.6 4.6 4.5 6.6 5.3 2.7 9.8 16.8 19.6 12.3 19

20 Consumer credit 5.4 3.0 3.5 6.8 4.9 2.2 8.7 12.7 12.6 3.4 20

21 Security credit 0.1 0.5 1.5 1.3 -1.1 1.4 0.8 4.7 -2.9 -1.0 21

22 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Customers’ liab. on acceptances (1) 0.0 0.2 0.6 0.1 0.8 1.3 0.7 -0.8 1.6 7.7 24

25 Miscellaneous assets 0.6 0.5 0.7 1.6 -0.1 -0.4 -0.2 1.8 -0.6 -3.0 25

26 Net increase in liabilities 28.7 19.2 38.1 41.6 15.2 41.5 59.0 77.6 81.1 64.2 26

27 Net interbank liabilities 0.1 3.7 0.8 3.7 11.5 -3.9 -7.0 -6.0 -5.9 -5.2 27

28 Federal Reserve float -0.4 0.3 -0.0 1.0 -0.0 0.8 0.1 -0.4 -0.9 -1.1 28

29 Borrowing from Federal Reserve banks -0.1 0.1 -0.0 0.0 -0.0 0.2 -0.3 1.9 -0.7 -1.0 29

30 To domestic banking 0.2 0.7 0.7 0.9 0.3 1.3 -1.8 -6.8 -3.4 -0.9 30

31 To foreign banks 0.3 2.7 0.2 1.8 11.3 -6.1 -5.1 -0.8 -0.9 -2.2 31

32 Checkable deposits 5.5 1.6 12.0 12.2 4.6 5.1 13.0 24.2 12.5 -1.3 32

33 Federal government -1.0 -0.5 0.2 -0.2 0.0 2.9 2.2 0.7 -1.0 -5.1 33

34 Rest of the world 0.2 0.2 0.3 0.3 0.4 0.5 -0.5 1.4 2.2 2.1 34

35 Private domestic 6.3 2.0 11.4 12.1 4.2 1.7 11.2 22.1 11.3 1.7 35

36 Small time and savings deposits 14.2 11.0 18.1 13.9 6.0 14.2 28.6 25.6 12.6 17.3 36

37 Large time deposits 5.8 2.3 5.8 6.6 -15.8 23.1 12.4 17.0 37.1 38.2 37

38 Federal funds and security RPs (net) 1.2 -0.1 -0.0 0.9 5.9 -4.1 4.0 2.2 16.3 1.4 38

39 Acceptance liabilities 0.0 0.2 0.6 0.1 0.8 1.3 0.7 -0.8 1.6 7.8 39

40 Corporate bonds 0.8 0.1 0.3 0.3 -0.2 0.1 0.9 1.1 0.0 0.2 40

41 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

42 Corporate equity issues -0.1 -0.0 -0.0 -0.1 -0.0 0.1 0.6 1.2 1.2 1.0 42

43 Taxes payable -0.1 -0.0 -0.1 -0.1 0.1 0.3 -0.0 -0.2 0.1 0.1 43

44 Miscellaneous liabilities 1.2 0.4 0.8 4.1 2.2 5.2 6.0 13.2 5.7 4.8 44

45 Investment by bank holding companies 0.0 0.0 0.0 0.0 4.0 6.0 5.0 6.0 4.0 7.0 45

46 Other 1.2 0.4 0.8 4.1 -1.8 -0.8 1.0 7.2 1.7 -2.2 46

47 Discrepancy 0.7 0.6 -0.0 0.3 4.5 7.0 5.0 6.1 2.9 5.6 47

 Memo:

48 Credit market funds advanced (2) 28.6 17.4 35.9 38.4 14.2 34.4 50.9 68.1 80.0 64.7 48

(1) Included in other loans and advances (table F.216).

(2) Total bank credit (line 5) less security credit (line 21) less corporate equities (line 22) less mutual fund shares (line 23) plus customers’ liability on acceptances (line 24).
18 FFA, 1965-1974, Z.1, December 9, 2004

F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 2

 3 Net acquisition of financial assets 0.0 0.7 0.1 0.9 0.9 2.1 0.6 2.2 4.4 8.5 3

 4 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Total bank credit -0.0 0.5 0.6 0.4 1.4 3.2 -0.1 1.3 3.9 7.1 5

 6 Treasury securities 0.1 -0.1 0.1 0.0 0.0 -0.1 -0.2 0.1 -0.0 0.1 6

 7 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.1 7

 8 Municipal securities 0.0 0.0 0.1 -0.1 0.0 0.2 -0.2 -0.0 0.0 0.1 8

 9 Corporate and foreign bonds 0.0 0.0 0.2 -0.1 0.0 0.3 -0.3 -0.1 -0.0 0.0 9

10 Total loans -0.1 0.5 0.2 0.4 1.4 2.8 0.6 1.0 3.7 6.9 10

11 Open market paper 0.0 0.1 0.0 0.1 0.2 0.4 0.1 0.1 0.2 0.7 11

12 Bank loans n.e.c. 0.1 0.4 0.1 0.4 1.2 2.5 0.5 0.8 4.0 6.3 12

13 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 13

14 Security credit -0.3 0.1 0.0 0.0 0.0 0.0 0.0 0.1 -0.6 -0.1 14

15 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 15

16 Customers’ liab. on acceptances (2) 0.0 0.0 0.1 0.0 0.2 0.3 0.2 -0.2 0.4 1.9 16

17 Miscellaneous assets 0.0 0.1 -0.6 0.5 -0.8 -1.4 0.6 1.0 0.1 -0.6 17

18 Net increase in liabilities 0.0 0.7 0.2 1.0 0.9 2.2 0.7 2.2 4.4 8.5 18

19 Net interbank liabilities -0.2 0.3 -0.2 0.1 0.6 -0.9 1.2 2.2 2.3 4.6 19

20 To foreign banks -0.2 0.2 0.4 0.4 1.0 -0.3 0.4 0.0 -1.8 2.0 20

21 To domestic banks 0.0 0.1 -0.6 -0.3 -0.4 -0.6 0.7 2.2 4.0 2.6 21

22 Checkable deposits -0.2 0.2 0.1 1.1 -0.0 4.2 0.2 -3.3 0.3 1.2 22

23 Small time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.1 0.1 23

24 Large time deposits 0.1 0.0 0.1 0.1 0.2 0.3 0.2 -0.3 0.8 1.0 24

25 Federal funds and security RPs (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Acceptance liabilities 0.0 0.0 0.1 0.0 0.2 0.3 0.2 -0.2 0.4 1.9 26

27 Miscellaneous liabilities 0.3 0.1 0.0 -0.4 -0.1 -1.8 -1.1 3.9 0.6 -0.4 27

28 Foreign direct investment in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 28

29 Due to affiliates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Other 0.3 0.1 -0.0 -0.4 -0.1 -1.8 -1.1 3.9 0.5 -0.6 30

31 Discrepancy -0.0 -0.0 0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 31

 Memo:

32 Credit market funds advanced (3) 0.2 0.5 0.7 0.4 1.6 3.5 0.0 1.0 4.8 9.1 32

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank.

(2) Included in other loans and advances (table F.216).

(3) Total bank credit (line 5) less security credit (line 14) less corporate equities (line 15) plus customers’ liability on acceptances (line 16).
FFA, 1965-1974, Z.1, December 9, 2004 19

F.112 Bank Holding Companies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 2

 3 Net acquisition of financial assets 0.0 0.0 0.0 0.0 8.7 6.0 4.2 8.7 12.9 5.3 3

 4 Credit market instruments 0.0 0.0 0.0 0.0 3.9 -1.0 -0.1 -0.2 1.7 0.9 4

 5 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Bank loans n.e.c. 0.0 0.0 0.0 0.0 3.9 -1.0 -0.1 -0.2 1.7 0.9 8

 9 Miscellaneous assets 0.0 0.0 0.0 0.0 4.7 7.0 4.3 8.9 11.2 4.3 9

10 Investment in bank subsidiaries 0.0 0.0 0.0 0.0 4.0 6.0 5.0 6.0 4.0 7.0 10

11 Investment in nonbank subsidiaries 0.0 0.0 0.0 0.0 0.0 0.0 0.6 2.4 1.4 0.7 11

12 Other 0.0 0.0 0.0 0.0 0.7 1.0 -1.2 0.5 5.8 -3.3 12

13 Net increase in liabilities 0.0 0.0 0.0 0.0 8.7 6.0 4.2 8.7 12.9 5.3 13

14 Net interbank liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -2.5 -0.2 14

15 To domestic banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 15

16 To foreign banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -2.5 -1.0 16

17 Federal funds and security RPs (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Credit market instruments 0.0 0.0 0.0 0.0 4.3 -0.8 0.8 2.6 3.2 4.4 18

19 Commercial paper 0.0 0.0 0.0 0.0 4.3 -1.9 -0.4 0.7 2.2 3.5 19

20 Corporate bonds 0.0 0.0 0.0 0.0 0.0 1.1 1.1 1.9 0.9 1.0 20

21 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Miscellaneous liabilities 0.0 0.0 0.0 0.0 4.4 6.9 3.5 6.1 12.2 1.0 22

23 Equity, etc. 0.0 0.0 0.0 0.0 4.0 5.7 1.5 7.1 10.2 4.2 23

24 Other 0.0 0.0 0.0 0.0 0.4 1.1 2.0 -1.0 2.0 -3.2 24

25 Discrepancy 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 25

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

Billions of dollars

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets 0.1 0.3 0.3 0.3 1.1 0.5 0.5 0.5 0.5 0.1 3

 4 Checkable deposits and currency -0.0 0.0 0.1 0.0 0.0 0.1 0.1 0.2 0.3 -0.2 4

 5 Credit market instruments 0.1 0.1 0.1 0.1 0.2 0.1 0.3 0.3 0.1 0.5 5

 6 Treasury securities -0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 -0.1 -0.2 6

 7 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 8

 9 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 9

10 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 10

11 Home mortgages 0.1 0.0 0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.1 11

12 Commercial mortgages 0.0 0.0 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.1 0.4 12

13 Miscellaneous assets 0.0 0.1 0.1 0.1 0.9 0.3 0.1 0.0 0.1 -0.2 13

14 Net increase in liabilities 0.1 0.3 0.3 0.3 1.0 0.5 0.5 0.4 0.4 0.1 14

15 Checkable deposits 0.1 0.3 0.3 0.3 0.1 0.3 0.4 0.3 0.3 0.0 15

16 Small time and savings deposits 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.1 0.1 0.0 16

17 Large time deposits 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.1 0.1 0.0 17

18 Miscellaneous liabilities -0.0 -0.0 -0.0 0.0 -0.1 -0.0 -0.0 -0.0 -0.0 0.0 18

19 Discrepancy -0.0 -0.0 -0.0 -0.0 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 19

(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.
20 FFA, 1965-1974, Z.1, December 9, 2004

F.114 Savings Institutions (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 1.0 0.8 0.7 1.0 1.1 1.2 1.7 2.0 2.5 2.2 1

 2 Fixed nonresidential investment 0.3 0.3 0.3 0.4 0.4 0.5 0.6 0.6 1.0 1.4 2

 3 Net acquisition of financial assets 13.9 7.1 15.1 14.1 12.0 18.4 39.9 47.4 34.1 26.7 3

 4 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Checkable deposits and currency 0.1 -0.6 -0.3 -0.4 -0.3 0.1 -0.1 0.5 0.1 0.2 5

 6 Time and savings deposits 0.0 0.1 0.1 0.1 -0.0 0.4 1.7 1.1 -0.5 0.7 6

 7 Federal funds and security RPs 0.0 0.0 0.0 0.1 0.2 0.1 0.7 0.5 2.0 2.3 7

 8 Credit market instruments 13.4 8.2 13.3 14.2 12.6 15.4 34.8 42.7 33.5 22.2 8

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

10 Treasury securities 0.2 -0.2 1.2 0.1 -1.9 -1.3 -0.4 -0.5 -1.7 -1.1 10

11 Agency- and GSE-backed securities 0.0 0.1 0.2 0.3 1.2 2.2 3.8 3.4 2.2 1.3 11

12 Mortgage pass-through securities 0.0 0.2 0.2 0.4 0.1 0.7 0.9 1.1 3.4 1.5 12

13 CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Other 0.0 -0.1 -0.0 -0.1 1.1 1.5 2.8 2.4 -1.2 -0.3 14

15 Municipal securities -0.1 -0.1 -0.0 0.1 0.0 0.0 0.2 0.5 0.1 0.3 15

16 Corporate and foreign bonds -0.1 0.3 2.1 1.4 0.6 2.7 4.9 2.6 -3.1 -0.2 16

17 Private mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Private CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Other -0.1 0.3 2.1 1.4 0.6 2.7 4.9 2.6 -3.1 -0.2 19

20 Other loans and advances -0.0 0.1 0.0 0.0 0.0 0.2 0.2 -0.1 -0.1 0.1 20

21 Mortgages 13.1 7.8 9.5 12.1 12.2 11.3 25.9 36.3 32.8 21.2 21

22 Consumer credit 0.2 0.2 0.2 0.3 0.5 0.3 0.2 0.5 3.4 0.6 22

23 Corporate equities 0.2 0.0 0.2 0.3 0.2 0.3 0.5 0.6 0.4 0.2 23

24 Miscellaneous assets 0.3 -0.6 1.8 -0.2 -0.8 2.0 2.3 1.9 -1.5 1.1 24

25 Net increase in liabilities 13.4 7.0 14.5 13.5 11.5 18.3 39.0 46.5 32.7 26.3 25

26 Deposits 12.1 6.1 15.6 11.5 6.5 15.4 37.7 42.7 24.9 18.4 26

27 Checkable 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.1 27

28 Small time and savings 12.1 6.1 15.6 11.5 6.5 14.6 36.8 41.8 23.7 16.5 28

29 Large time 0.0 0.0 0.0 0.0 0.0 0.7 0.8 0.9 1.1 1.7 29

30 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.0 1.7 30

31 Credit market instruments 0.8 1.0 -2.7 0.9 4.1 1.2 -2.0 0.5 7.6 6.2 31

32 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Bank loans n.e.c. 0.2 0.1 -0.1 0.1 0.1 -0.1 0.7 0.4 0.4 -0.4 33

34 Other loans and advances 0.7 0.9 -2.5 0.9 4.0 1.3 -2.7 0.0 7.2 6.7 34

35 Taxes payable 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 35

36 Miscellaneous liabilities 0.5 -0.2 1.6 1.0 0.9 1.7 3.3 2.9 0.2 0.0 36

37 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 Other 0.5 -0.2 1.6 1.0 0.9 1.7 3.3 2.9 0.2 0.0 38

39 Discrepancy 0.3 0.4 -0.1 0.0 0.2 0.6 0.2 0.5 0.1 0.4 39

(1) Savings and loan associations, mutual savings banks, and federal savings banks.
FFA, 1965-1974, Z.1, December 9, 2004 21

F.115 Credit Unions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.3 0.4 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 2

 3 Net acquisition of financial assets 1.1 0.9 1.1 1.3 1.6 1.9 3.0 3.5 3.1 3.3 3

 4 Checkable deposits and currency 0.0 0.0 0.1 -0.0 -0.0 0.2 0.1 0.0 -0.0 0.0 4

 5 Time and savings deposits 0.0 -0.2 0.2 -0.2 -0.4 0.4 0.9 0.6 -0.4 0.6 5

 6 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 1.0 1.1 0.9 1.5 2.1 1.4 2.0 2.9 3.6 2.7 7

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

 9 Treasury securities 0.0 0.0 0.0 0.0 0.2 0.0 0.0 -0.0 0.3 0.1 9

10 Agency- and GSE-backed securities 0.0 0.1 0.1 0.1 0.1 0.3 0.2 0.6 0.2 0.3 10

11 Home mortgages 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.2 0.4 0.1 11

12 Consumer credit 1.0 0.9 0.7 1.3 1.7 1.0 1.8 2.2 2.7 2.3 12

13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Miscellaneous assets -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 -0.1 14

15 Net increase in liabilities 0.9 0.8 1.0 1.2 1.4 1.8 2.8 3.2 3.0 3.3 15

16 Shares/deposits 1.0 0.9 1.0 1.2 1.4 1.7 2.9 3.3 2.9 3.0 16

17 Checkable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Small time and savings 1.0 0.8 1.0 1.2 1.4 1.7 2.9 3.3 2.9 3.0 18

19 Large time 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Miscellaneous liabilities -0.1 -0.0 -0.0 -0.0 -0.0 0.0 -0.1 -0.1 0.1 0.3 21

22 Discrepancy -0.1 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.1 0.3 22

F.116 Bank Personal Trusts and Estates (1)

Billions of dollars

 1 Net acquisition of financial assets 0.0 0.0 0.0 0.0 7.7 4.1 12.7 8.8 12.8 5.5 1

 2 Deposits 0.0 0.0 0.0 0.0 -0.3 0.3 1.1 0.9 0.2 0.4 2

 3 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.3 -0.0 -0.0 0.1 0.0 -0.1 3

 4 Time and savings deposits 0.0 0.0 0.0 0.0 -0.6 0.4 1.1 0.7 0.2 0.5 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 0.0 0.0 0.0 0.0 -0.7 2.7 4.4 3.1 4.4 2.8 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.1 0.3 1.1 0.7 0.7 0.3 7

 8 Treasury securities 0.0 0.0 0.0 0.0 0.8 0.5 -0.5 -0.1 0.9 0.9 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.6 0.4 -0.4 -0.1 0.6 0.8 9

10 Municipal securities 0.0 0.0 0.0 0.0 -2.6 0.9 2.3 1.2 0.8 -1.1 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.1 0.4 1.7 1.3 1.3 1.5 11

12 Mortgages 0.0 0.0 0.0 0.0 0.3 0.1 0.2 0.0 0.2 0.4 12

13 Corporate equities 0.0 0.0 0.0 0.0 8.1 0.8 6.6 4.4 7.4 1.8 13

14 Mutual fund shares 0.0 0.0 0.0 0.0 0.4 0.1 0.3 0.3 0.4 0.1 14

15 Miscellaneous assets 0.0 0.0 0.0 0.0 0.2 0.3 0.3 0.1 0.5 0.5 15

16 Net increase in liabilities (2) 0.0 0.0 0.0 0.0 13.2 4.9 13.5 9.5 13.6 6.4 16

17 Discrepancy 0.0 0.0 0.0 0.0 5.5 0.8 0.8 0.6 0.8 0.9 17

(1) Personal trusts, estates, and non-managed personal agency accounts at banks, savings institutions, and national nondeposit noninsured trust companies.

(2) Equal to the net acquisition of tangible and financial assets. These liabilities are assets of the household sector.
22 FFA, 1965-1974, Z.1, December 9, 2004

F.117 Life Insurance Companies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.9 1.0 1.0 1.0 0.9 1.1 1.3 1.5 1.8 2.2 1

 2 Fixed nonresidential investment 0.3 0.3 0.4 0.4 0.4 0.4 0.5 0.5 0.6 0.8 2

 3 Net acquisition of financial assets 8.8 8.6 8.7 9.4 9.5 9.9 12.7 14.4 16.9 16.6 3

 4 Checkable deposits and currency 0.0 0.0 0.0 0.1 -0.0 0.1 0.0 0.2 0.1 -0.1 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 7.6 8.1 7.4 7.3 6.9 7.0 8.2 9.7 12.3 12.9 6

 7 Open market paper 0.0 0.1 0.1 0.0 0.8 0.8 0.6 0.2 0.0 1.1 7

 8 Treasury securities -0.5 -0.2 -0.2 -0.2 -0.3 -0.1 -0.2 -0.0 -0.4 -0.1 8

 9 Agency- and GSE-backed securities 0.0 0.1 -0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 9

10 Municipal securities -0.2 -0.3 -0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.3 10

11 Corporate and foreign bonds 2.8 2.4 3.8 3.7 1.7 1.5 5.5 7.0 5.9 4.0 11

12 Policy loans 0.5 1.4 0.9 1.2 2.5 2.2 1.0 0.9 2.2 2.7 12

13 Mortgages 4.9 4.6 2.9 2.5 2.1 2.3 1.1 1.5 4.4 4.9 13

14 Corporate equities 0.7 0.2 1.0 1.3 1.3 1.6 4.0 3.8 3.3 1.9 14

15 Mutual fund shares 0.0 0.0 0.0 0.0 0.4 0.4 -0.4 -0.3 0.2 0.4 15

16 Miscellaneous assets 0.5 0.2 0.3 0.6 0.9 0.8 0.9 1.0 0.9 1.4 16

17 Net increase in liabilities 7.9 8.0 8.1 8.7 9.6 9.7 12.8 13.8 15.5 15.6 17

18 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Life insurance reserves 4.7 4.6 5.1 4.8 5.0 5.2 6.3 6.7 7.2 7.0 20

21 Pension fund reserves (1) 2.1 2.1 1.5 2.3 3.1 2.9 4.6 4.4 5.7 6.0 21

22 Taxes payable -0.0 0.1 -0.1 0.2 0.1 0.1 -0.1 0.0 0.0 -0.0 22

23 Miscellaneous liabilities 1.2 1.2 1.6 1.5 1.4 1.5 2.0 2.6 2.5 2.6 23

24 Discrepancy -0.2 0.0 0.0 -0.1 0.6 0.5 0.9 0.3 -0.2 0.4 24

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 23).

F.118 Other Insurance Companies

Billions of dollars

 1 Gross saving 0.0 0.7 0.7 0.6 0.3 1.0 2.0 2.3 1.6 0.6 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 2

 3 Net acquisition of financial assets 1.2 2.1 2.1 3.2 3.1 5.6 6.9 8.2 6.9 5.2 3

 4 Checkable deposits and currency -0.1 0.0 -0.0 0.1 -0.0 0.1 0.1 0.0 -0.0 0.1 4

 5 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 1.0 1.5 1.4 1.9 1.6 3.8 3.8 3.7 3.4 4.6 6

 7 Treasury securities -0.2 -0.5 -0.7 -0.4 -0.5 -0.1 -0.2 -0.3 -0.1 0.0 7

 8 Agency- and GSE-backed securities 0.1 0.7 -0.1 0.2 0.2 0.0 0.3 0.4 0.0 0.4 8

 9 Municipal securities 0.4 0.7 1.5 0.9 1.1 1.5 3.5 4.3 3.6 2.2 9

10 Corporate and foreign bonds 0.6 0.6 0.7 1.2 0.8 2.3 0.3 -0.7 -0.1 2.0 10

11 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 11

12 Corporate equities 0.1 0.4 0.3 0.8 1.0 1.0 2.5 3.0 2.4 -0.5 12

13 Trade receivables 0.2 0.2 0.3 0.3 0.4 0.5 0.3 1.2 0.6 0.5 13

14 Miscellaneous assets 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.5 14

15 Net increase in liabilities 1.7 1.9 2.2 2.7 4.0 3.9 4.1 5.4 5.4 5.5 15

16 Corporate equity issues 0.1 0.1 0.1 0.2 0.5 0.4 0.6 0.5 0.5 0.9 16

17 Taxes payable 0.1 0.0 0.0 -0.0 0.1 0.1 -0.1 0.1 0.0 0.0 17

18 Miscellaneous liabilities 1.5 1.8 2.1 2.5 3.4 3.4 3.6 4.8 4.8 4.6 18

19 Discrepancy 0.4 0.3 0.7 -0.0 1.0 -0.8 -1.0 -0.6 -0.1 0.5 19
FFA, 1965-1974, Z.1, December 9, 2004 23

F.119 Private Pension Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 2

 3 Net acquisition of financial assets 6.3 7.9 7.5 7.9 8.2 8.8 9.9 27.7 17.1 19.4 3

 4 Checkable deposits and currency 0.0 -0.2 0.1 0.1 0.0 0.1 0.2 0.5 0.7 0.9 4

 5 Time and savings deposits 0.4 0.5 0.6 0.7 0.7 0.9 1.0 1.2 1.5 1.9 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Security RPs 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.8 0.4 0.5 7

 8 Credit market instruments 1.9 2.8 0.9 1.1 0.8 2.0 -1.6 5.5 6.2 8.9 8

 9 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 1.3 2.3 9

10 Treasury securities -0.2 -0.2 -0.3 0.4 -0.2 -0.1 0.0 1.3 2.0 3.2 10

11 Agency- and GSE-backed securities -0.0 -0.0 -0.1 0.1 0.2 0.3 -0.3 1.5 1.1 1.1 11

12 Corporate and foreign bonds 1.5 2.5 1.1 0.6 0.6 1.8 -0.8 2.0 2.1 2.3 12

13 Mortgages 0.6 0.5 0.2 -0.0 0.1 -0.0 -0.5 -0.9 -0.4 -0.0 13

14 Corporate equities 3.1 3.5 4.6 4.8 5.4 4.6 8.9 12.1 4.1 1.8 14

15 Mutual fund shares 0.0 0.1 0.0 0.1 0.2 0.2 0.2 0.3 0.6 0.8 15

16 Miscellaneous assets 0.7 1.1 1.2 1.0 0.9 1.0 1.2 7.3 3.6 4.6 16

17 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Contributions receivable 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 18

19 Other 0.6 1.0 1.0 0.8 0.8 0.9 0.8 6.8 3.6 4.6 19

20 Pension fund reserves (liabilities) (3) 6.3 7.9 7.6 7.9 8.2 8.9 10.0 27.7 17.1 19.5 20

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(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

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets 3.3 4.2 4.1 4.8 5.5 6.4 6.6 8.5 9.5 9.3 3

 4 Checkable deposits and currency 0.0 0.1 -0.1 0.1 -0.1 0.1 0.2 0.2 -0.2 -0.3 4

 5 Time and savings deposits 0.0 0.0 0.2 0.1 -0.1 0.0 -0.1 0.0 0.6 0.7 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 2.9 3.7 3.3 3.4 3.8 4.1 3.3 4.6 5.7 6.3 7

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

 9 Treasury securities 0.1 -0.0 -1.0 -0.2 -0.5 -0.3 -1.2 -0.3 -1.1 -0.9 9

10 Agency- and GSE-backed securities 0.1 0.2 0.1 0.6 0.2 -0.1 0.1 0.6 1.2 1.2 10

11 Municipal securities -0.3 -0.1 -0.1 -0.0 -0.1 -0.3 0.1 -0.1 -0.3 -0.7 11

12 Corporate and foreign bonds 2.3 2.9 3.7 2.6 4.0 4.5 3.9 4.2 5.2 6.1 12

13 Mortgages 0.7 0.8 0.5 0.4 0.2 0.3 0.4 0.2 0.7 0.6 13

14 Corporate equities 0.4 0.5 0.7 1.3 1.8 2.1 3.2 3.7 3.4 2.6 14

15 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Pension fund reserves (liabilities) (1) 3.3 4.2 4.1 4.8 5.5 6.4 6.6 8.5 9.5 9.3 16

(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.

F.121 Federal Government Retirement Funds (1)

Billions of dollars

 1 Net acquisition of financial assets 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 1

 2 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Miscellaneous assets 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 7

 8 Pension fund reserves (liabilities) (2) 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 8

(1) Includes the Federal Employees Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

(2) Liabilities of the sector are assets of the household sector.
24 FFA, 1965-1974, Z.1, December 9, 2004

F.122 Money Market Mutual Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 1

 2 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.6 4

 5 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 5

 6 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 7

 8 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 12

13 Net share issues (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 13

(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 Mutual Funds (1)

Billions of dollars

 1 Gross saving -0.1 0.1 0.2 0.1 0.1 -0.1 -0.0 -0.0 -0.3 -0.2 1

 2 Net acquisition of financial assets 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 2

 3 Security RPs 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 3

 4 Credit market instruments 0.7 1.3 -0.8 -0.2 1.0 0.6 -0.2 0.5 0.6 0.8 4

 5 Open market paper 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 5

 6 Treasury securities 0.0 0.6 -0.5 0.2 -0.5 0.2 -0.3 0.1 -0.0 0.4 6

 7 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Corporate and foreign bonds 0.4 0.4 -0.4 -0.6 0.9 0.6 0.2 0.5 0.1 0.6 9

10 Corporate equities 1.3 1.0 1.8 2.5 1.8 1.2 0.4 -1.8 -2.2 -0.4 10

11 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Net share issues (liabilities) 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 12

13 Discrepancy -0.1 0.1 0.2 0.1 0.1 -0.1 -0.0 -0.0 -0.3 -0.2 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.117).

F.124 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Net acquisition of financial assets -0.7 0.3 -0.8 0.7 0.5 -2.3 1.1 -0.1 2.7 0.9 1

 2 Credit market instruments 0.0 -0.0 0.1 0.4 -0.0 -0.7 0.6 0.3 0.5 -0.2 2

 3 Treasury securities -0.0 -0.0 0.0 0.1 -0.0 -0.1 0.1 0.1 0.1 -0.1 3

 4 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.1 0.3 0.0 -0.6 0.4 0.2 0.4 -0.1 5

 6 Corporate equities -0.7 0.3 -1.0 0.3 0.5 -1.6 0.5 -0.4 2.1 1.1 6

 7 Net share issues (liabilities) -0.7 0.3 -0.8 0.7 0.5 -2.3 1.1 -0.1 2.7 0.9 7

 Exchange-traded funds

 8 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Net share issues (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13
FFA, 1965-1974, Z.1, December 9, 2004 25

F.125 Government-Sponsored Enterprises (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.4 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 2

 3 Net acquisition of financial assets 2.3 5.0 -0.0 3.3 9.2 10.3 0.7 4.0 18.8 18.2 3

 4 Checkable deposits and currency -0.0 0.0 0.0 0.0 0.0 -0.0 0.1 -0.0 0.1 -0.0 4

 5 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal funds and security RPs -0.0 0.0 -0.0 0.0 0.2 0.8 -0.6 0.4 2.3 -1.0 6

 7 Credit market instruments 2.3 5.1 -0.0 3.2 8.6 8.8 1.1 4.0 15.4 20.9 7

 8 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.2 0.9 8

 9 Treasury securities 0.1 0.9 0.0 -0.1 -0.6 1.1 -0.6 -1.2 -0.1 0.3 9

10 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.1 0.1 10

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

12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Other loans and advances 1.0 1.6 -1.8 1.2 4.8 2.3 -2.0 0.8 8.5 9.3 13

14 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Farm Credit System 0.4 0.6 0.7 0.3 0.8 1.0 0.7 0.7 1.4 2.6 15

16 FHLB loans 0.7 0.9 -2.5 0.9 4.0 1.3 -2.7 0.0 7.2 6.7 16

17 Mortgages 1.1 2.6 1.8 2.2 4.4 5.4 3.6 4.0 7.1 10.3 17

18 Home 0.5 1.9 1.1 1.6 3.8 4.6 2.1 1.8 3.4 5.6 18

19 Multifamily residential -0.0 0.0 -0.0 0.0 0.0 0.3 0.8 1.0 1.8 2.2 19

20 Farm 0.6 0.7 0.7 0.5 0.6 0.5 0.7 1.2 1.9 2.5 20

21 Consumer credit (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Miscellaneous assets 0.1 -0.1 0.0 0.0 0.4 0.8 0.2 -0.3 1.0 -1.8 22

23 Net increase in liabilities 2.2 5.0 -0.1 3.2 9.1 10.0 0.6 3.9 18.4 17.7 23

24 Credit market instruments 2.1 4.8 -0.6 3.5 8.8 8.2 1.1 3.5 16.3 17.3 24

25 GSE issues (3) 1.9 5.1 -0.6 3.2 9.1 8.2 1.1 3.5 16.3 16.6 25

26 U.S. government loans 0.2 -0.2 -0.1 0.2 -0.3 0.0 0.0 0.0 0.0 0.7 26

27 Miscellaneous liabilities 0.1 0.2 0.5 -0.2 0.4 1.8 -0.5 0.4 2.2 0.4 27

28 Discrepancy -0.0 -0.0 -0.0 0.0 0.0 -0.2 0.0 0.0 -0.1 -0.2 28

(1) Federal Home Loan Banks, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Agricultural 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 SLM Corporation, a private company chartered in 1997.

(2) SLMA student loans.

(3) Such issues are classified as agency- and GSE-backed securities.

F.126 Agency- and GSE-backed Mortgage Pools (1)

Billions of dollars

 1 Net acquisition of financial assets 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 1

 2 Home mortgages 0.1 0.2 0.4 0.3 0.4 1.2 4.2 4.0 2.9 4.4 2

 3 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 0.2 0.2 3

 4 Commercial mortgages 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.3 -0.1 4

 5 Farm mortgages 0.1 0.1 0.2 0.1 0.2 0.3 0.4 0.3 0.2 -0.0 5

 6 Net increase in pool securities (liabilities)(2) 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 6

(1) GNMA, FNMA, FHLMC, FAMC, and Farmers Home Administration pools. Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed

 CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
26 FFA, 1965-1974, Z.1, December 9, 2004

F.127 Issuers of Asset-Backed Securities (ABSs)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Mortgages (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Multifamily residential 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Commercial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Trade credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Net increase in liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 Memo:

 Securitized assets not included above

16 Consumer leases (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 REIT assets (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

(1) Agency- and GSE-backed 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.130.

F.128 Finance Companies (1)

Billions of dollars

 1 Gross saving 0.6 0.5 0.6 0.5 0.3 0.3 0.6 0.7 0.8 0.7 1

 2 Fixed nonresidential investment 0.3 0.3 0.4 0.7 0.6 0.5 0.5 0.6 0.7 0.8 2

 3 Net acquisition of financial assets 4.9 2.4 0.6 5.2 8.6 2.5 6.2 9.9 11.7 5.3 3

 4 Checkable deposits and currency 0.2 0.2 0.1 0.1 0.1 0.2 0.3 0.3 0.2 0.2 4

 5 Credit market instruments 4.2 2.8 0.1 4.5 7.8 1.1 4.1 8.2 10.0 7.2 5

 6 Other loans and advances 2.0 1.1 -0.3 2.2 5.0 0.4 1.3 4.2 5.0 4.8 6

 7 Mortgages 0.0 0.0 0.0 0.0 0.0 0.6 0.5 0.5 0.5 0.5 7

 8 Consumer credit 2.3 1.8 0.5 2.3 2.8 0.1 2.3 3.6 4.6 1.9 8

 9 Miscellaneous assets 0.5 -0.6 0.4 0.6 0.8 1.2 1.7 1.4 1.5 -2.2 9

10 Net increase in liabilities 4.2 1.7 -0.1 4.5 8.0 1.8 5.7 9.5 11.5 4.8 10

11 Credit market instruments 4.4 4.9 2.0 3.7 7.3 2.5 0.8 6.0 7.5 8.9 11

12 Open market paper 1.2 3.5 2.0 2.9 6.0 0.6 -0.5 -1.3 2.0 3.6 12

13 Corporate bonds 0.4 1.5 0.7 0.3 1.1 0.8 2.3 4.0 3.9 5.6 13

14 Bank loans n.e.c. 2.8 -0.1 -0.8 0.5 0.2 1.0 -1.0 3.3 1.6 -0.3 14

15 Taxes payable 0.1 -0.0 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Miscellaneous liabilities -0.2 -3.2 -2.0 0.8 0.6 -0.7 4.8 3.4 4.0 -4.1 16

17 Foreign direct investment in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 17

18 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.6 2.4 0.6 -0.3 18

19 Other -0.2 -3.2 -2.0 0.8 0.6 -0.7 4.2 1.1 3.4 -3.8 19

20 Discrepancy -0.4 -0.5 -0.5 -0.9 -0.9 -0.9 -0.4 -0.3 -0.1 -0.5 20

 Memo:

21 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

(1) Includes retail captive finance companies.

(2) See footnote (3), table F.127.
FFA, 1965-1974, Z.1, December 9, 2004 27

F.129 Mortgage Companies (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets 0.5 -0.6 0.4 0.6 0.8 1.2 2.0 1.7 1.9 -1.9 1

 2 Home mortgages 0.5 -0.5 0.3 0.5 0.7 0.5 0.3 0.6 1.2 -1.2 2

 3 Multifamily residential mortgages 0.1 -0.1 0.1 0.1 0.1 0.5 1.2 0.9 0.4 -1.3 3

 4 Commercial mortgages 0.0 -0.0 0.0 0.0 0.0 0.2 0.5 0.3 0.2 0.6 4

 5 Net increase in liabilities 0.5 -0.6 0.4 0.6 0.8 1.2 2.0 1.7 1.9 -1.9 5

 6 Bank loans n.e.c. 0.5 -0.6 -1.6 2.6 0.8 1.2 2.0 1.7 1.9 -1.9 6

 7 Investment by parent 0.0 0.0 2.0 -2.0 0.0 0.0 0.0 0.0 0.0 0.0 7

(1) No data are available after 1997:Q4.

F.130 Real Estate Investment Trusts (REITs)

Billions of dollars

 1 Gross saving -0.0 -0.0 -0.0 0.0 0.1 0.1 0.0 0.1 0.0 0.2 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.3 0.3 0.2 0.3 0.8 0.6 0.6 2

 3 Multifamily residential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 3

 4 Net acquisition of financial assets 0.0 0.0 0.0 0.8 1.2 1.9 2.5 5.3 4.9 -0.2 4

 5 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 0.0 0.0 0.0 0.8 1.2 1.9 2.3 4.2 5.6 0.2 6

 7 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Mortgages 0.0 0.0 0.0 0.8 1.2 1.9 2.3 4.2 5.6 0.2 9

10 Home 0.0 0.0 0.0 0.0 0.2 0.4 0.2 0.4 0.7 -0.2 10

11 Multifamily residential 0.0 0.0 0.0 0.1 0.4 0.8 0.9 2.0 2.4 0.2 11

12 Commercial 0.0 0.0 0.0 0.7 0.6 0.7 1.2 1.7 2.5 0.2 12

13 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.1 -0.6 -0.4 13

14 Net increase in liabilities 0.0 0.0 0.0 0.9 1.3 2.0 2.7 5.8 5.6 0.3 14

15 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Credit market instruments 0.0 0.0 0.0 0.8 0.7 0.7 1.9 4.6 4.9 0.3 16

17 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.8 2.5 0.7 -3.3 17

18 Corporate bonds 0.0 0.0 0.0 0.0 0.1 0.5 0.4 0.4 0.6 0.2 18

19 Bank loans n.e.c. 0.0 0.0 0.0 0.6 0.4 0.1 0.6 1.3 3.4 3.3 19

20 Mortgages 0.0 0.0 0.0 0.2 0.2 0.1 0.1 0.5 0.3 0.1 20

21 Corporate equity issues 0.0 0.0 0.0 0.1 0.6 1.4 0.8 0.8 0.5 -1.4 21

22 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.1 1.4 22

23 Discrepancy -0.0 -0.0 -0.0 -0.2 -0.2 0.0 -0.0 -0.4 -0.0 0.1 23

 Memo:

24 Securitized assets included above 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28
28 FFA, 1965-1974, Z.1, December 9, 2004

F.131 Security Brokers and Dealers

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.1 0.1 0.2 0.2 -0.0 -0.3 0.0 -0.0 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 2

 3 Net acquisition of financial assets 0.5 0.9 3.4 3.8 -3.1 0.8 1.4 5.3 -2.6 -2.0 3

 4 Checkable deposits and currency 0.0 0.1 0.2 0.5 -0.1 -0.3 0.0 -0.0 -0.2 -0.1 4

 5 Credit market instruments -0.2 0.8 -0.3 0.6 0.1 2.3 -1.4 1.3 1.6 0.2 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.0 1.0 6

 7 Treasury securities -0.3 0.7 -0.8 0.8 -0.0 1.7 -1.6 0.2 -0.0 0.2 7

 8 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Municipal securities -0.2 0.0 0.0 0.0 -0.2 0.6 0.1 -0.1 0.2 -0.4 9

10 Corporate and foreign bonds 0.3 0.1 0.4 -0.2 0.4 0.1 0.1 0.2 0.4 -0.6 10

11 Corporate equities 0.2 0.3 0.1 -0.3 0.6 -0.0 -0.1 0.1 0.6 0.1 11

12 Security credit 0.4 -0.0 3.2 2.8 -3.5 -1.3 2.6 3.7 -4.3 -1.6 12

13 Miscellaneous assets 0.1 -0.1 0.3 0.1 -0.2 0.1 0.2 0.2 -0.3 -0.7 13

14 Net increase in liabilities 0.4 0.9 3.2 3.5 -3.1 1.0 1.2 5.2 -2.7 -1.7 14

15 Security RPs (net) -0.4 0.0 -0.6 -0.3 0.1 0.5 -0.1 -0.8 0.2 -0.9 15

16 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.3 0.3 17

18 Trade payables 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 18

19 Security credit 0.7 0.8 3.8 3.7 -3.1 0.5 1.3 4.9 -3.6 -2.1 19

20 Customer credit balances (HH) 0.9 0.2 2.3 2.4 -2.0 -1.0 0.5 0.2 -0.2 -1.0 20

21 From banks -0.2 0.6 1.5 1.3 -1.1 1.4 0.8 4.8 -3.4 -1.0 21

22 Taxes payable 0.0 0.0 0.1 0.0 -0.1 0.0 -0.0 0.0 -0.0 -0.1 22

23 Miscellaneous liabilities -0.1 -0.0 -0.1 -0.1 -0.1 -0.0 -0.0 0.8 -0.3 0.2 23

24 Foreign direct investment in U.S. -0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.3 24

25 Due to affiliates 0.0 0.0 -2.0 2.0 0.0 0.0 0.0 0.0 0.8 1.0 25

26 Other -0.0 -0.0 2.0 -2.1 -0.1 -0.0 -0.1 0.8 -1.0 -1.1 26

27 Proprietors’ net investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.8 27

28 Discrepancy -0.1 -0.0 -0.1 -0.1 -0.1 -0.3 -0.3 -0.2 -0.1 0.2 28

F.132 Funding Corporations (1)

Billions of dollars

 1 Net acquisition of financial assets 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 1

 2 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 3

 4 Open market paper 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Miscellaneous assets (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Investment in foreign banking offices 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Net increase in liabilities 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 9

10 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Miscellaneous liabilities 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 13

14 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Securities loaned (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Other 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 16

(1) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations.

(2) Due from affiliated companies.
FFA, 1965-1974, Z.1, December 9, 2004 29

F.200 Gold and Official Foreign Exchange Holdings (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total U.S. reserves -1.2 -0.6 -0.1 0.9 1.2 -2.5 -2.3 0.0 -0.2 1.5 1

 2 U.S. gold stock and SDRs -1.7 -0.6 -1.2 -1.2 1.0 0.1 -0.6 0.2 -0.0 0.2 2

 3 Federal govt.: Exchange Stab. Fund -0.0 0.0 0.0 0.4 1.0 -0.3 -0.0 0.7 -0.0 0.1 3

 4 Monetary authority (2) -1.7 -0.6 -1.2 -1.6 0.0 0.4 -0.6 -0.5 0.0 0.1 4

 5 U.S. foreign exchange position 0.4 0.0 1.1 2.0 0.2 -2.5 -1.7 -0.2 -0.1 1.3 5

 6 Official foreign currency holdings 0.3 0.5 1.0 1.2 -0.8 -2.2 -0.4 0.0 -0.2 0.0 6

 7 Treasury 0.2 0.3 0.5 0.6 -0.4 -1.1 -0.2 0.0 -0.1 0.0 7

 8 Monetary authority 0.2 0.3 0.5 0.6 -0.4 -1.1 -0.2 0.0 -0.1 0.0 8

 9 Net IMF position 0.1 -0.5 0.1 0.9 1.0 -0.4 -1.4 -0.2 0.0 1.3 9

10 Federal government 0.1 -0.5 0.1 0.9 1.0 -0.4 -1.3 -0.2 0.0 1.3 10

11 Monetary authority -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.

(2) Treasury gold stock.

F.201 SDR Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.2 0.9 0.7 0.4 0.3 0.2 0.5 0.5 0.4 0.4 3

 4 Asset: Monetary authority 0.2 0.7 0.5 0.2 0.1 0.3 0.5 0.7 0.4 0.5 4

 5 Discrepancy (seigniorage) 0.1 0.2 0.2 0.2 0.2 -0.1 0.0 -0.2 0.0 -0.1 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 1

 Held by:

 2 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Nonfinancial corporate business -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 3

 4 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Discrepancy--unallocated assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5
30 FFA, 1965-1974, Z.1, December 9, 2004

F.203 Net Interbank Transactions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 0.6 6.0 2.3 5.8 12.4 -3.0 -1.7 -4.8 -2.7 -1.1 1

 2 Monetary authority 0.7 1.9 1.8 2.0 0.3 1.8 4.1 -1.0 3.5 -0.3 2

 3 Depository institution reserves 0.4 1.3 1.3 0.8 0.2 2.1 3.6 -2.1 1.4 -1.2 3

 4 Vault cash 0.3 0.6 0.5 1.3 0.1 -0.3 0.5 1.1 2.0 1.0 4

 5 Commercial banking -0.1 4.0 0.5 3.8 12.1 -4.8 -5.9 -3.8 -6.2 -0.8 5

 6 To monetary authority -0.4 0.3 -0.1 1.0 -0.0 1.0 -0.2 1.6 -1.6 -2.1 6

 7 To banks in foreign countries 0.1 2.9 0.6 2.1 12.3 -6.4 -4.6 -0.7 -5.2 -1.2 7

 8 Liabilities, net 0.1 2.9 0.6 2.2 12.3 -6.2 -4.4 -0.5 -4.9 -0.4 8

 9 U.S.-chartered commercial banks 0.3 2.7 0.2 1.8 11.3 -6.0 -4.9 -0.5 -0.9 -1.6 9

10 Due to foreign affiliates 0.3 2.7 0.2 1.8 11.4 -6.0 -4.9 -0.2 -0.2 2.6 10

11 - Due from foreign affiliates 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.3 0.6 4.2 11

12 Foreign banking offices in U.S. -0.2 0.2 0.4 0.4 1.0 -0.2 0.5 0.1 -1.5 2.2 12

13 Due to foreign affiliates -0.2 0.3 0.5 0.5 1.2 0.2 0.7 0.5 -0.3 4.5 13

14 - Due from foreign affiliates 0.0 0.1 0.1 0.2 0.2 0.5 0.2 0.4 1.2 2.3 14

15 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -2.5 -1.0 15

16 Due to foreign affiliates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 - Due from foreign affiliates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 1.0 17

18 Less: Deposits at foreign banks -0.1 0.0 0.1 0.0 0.0 0.1 0.2 0.3 0.3 0.9 18

19 U.S.-chartered commercial banks -0.1 -0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.0 0.6 19

20 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.3 0.2 20

21 To U.S. banking, net 0.2 0.8 0.0 0.6 -0.1 0.6 -1.0 -4.6 0.6 2.5 21

22 U.S.-chartered commercial banks 0.2 0.7 0.7 0.9 0.3 1.3 -1.8 -6.8 -3.4 -0.9 22

23 Liabilities 0.2 0.8 0.6 1.0 0.6 1.7 0.2 -4.1 4.9 7.0 23

24 To foreign offices in U.S. -0.0 -0.0 0.6 0.4 0.7 1.1 1.2 0.6 4.2 4.6 24

25 To bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Unallocated 0.2 0.8 0.0 0.6 -0.1 0.6 -1.0 -4.6 0.6 2.5 26

 Less, due from:

27 Foreign offices in U.S. 0.0 0.1 -0.0 0.1 0.3 0.5 2.0 2.7 8.3 7.2 27

28 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 28

29 Foreign banking offices in U.S. 0.0 0.1 -0.6 -0.3 -0.4 -0.6 0.7 2.2 4.0 2.6 29

30 Due to U.S. banks 0.0 0.1 -0.0 0.1 0.3 0.5 2.0 2.7 8.3 7.2 30

31 - Due from U.S. banks -0.0 -0.0 0.6 0.4 0.7 1.1 1.2 0.6 4.2 4.6 31

32 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 32

33 Due to U.S. banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 33

34 - Due from U.S. banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Net change in assets 0.4 5.1 2.3 5.2 12.6 -3.6 -0.7 -0.2 -3.3 -3.6 35

36 Rest of the world 0.1 2.9 0.6 2.1 12.3 -6.4 -4.6 -0.7 -5.2 -1.2 36

37 Domestic 0.3 2.3 1.7 3.1 0.3 2.8 3.9 0.6 1.9 -2.3 37

38 Monetary authority -0.4 0.3 -0.1 1.0 -0.0 1.0 -0.2 1.6 -1.6 -2.1 38

39 Federal Reserve float -0.4 0.3 -0.0 1.0 -0.0 0.8 0.1 -0.4 -0.9 -1.1 39

40 Loans to member banks -0.1 0.1 -0.0 0.0 -0.0 0.2 -0.3 1.9 -0.7 -1.0 40

41 Commercial banking 0.7 1.9 1.8 2.0 0.3 1.8 4.1 -1.0 3.5 -0.3 41

42 Reserves at Federal Reserve 0.4 1.3 1.3 0.8 0.2 2.1 3.6 -2.1 1.4 -1.2 42

43 Vault cash 0.3 0.6 0.5 1.3 0.1 -0.3 0.5 1.1 2.0 1.0 43

44 Savings insts.: Reserves at Fed. Res. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

45 Discrepancy--floats, etc. 0.2 0.8 0.0 0.6 -0.1 0.6 -1.0 -4.6 0.6 2.5 45
FFA, 1965-1974, Z.1, December 9, 2004 31

F.204 Checkable Deposits and Currency

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 7.3 4.5 15.3 15.1 8.1 12.8 18.0 24.4 16.6 7.0 1

 2 Monetary authority 1.9 2.4 2.9 1.5 3.3 3.1 4.5 3.1 3.4 6.9 2

 3 Federal government cash and deposits -0.2 0.2 0.9 -1.1 0.6 -0.4 0.9 -1.1 -0.5 0.4 3

 4 Deposits due to foreign -0.1 0.2 -0.0 0.1 -0.1 -0.0 0.1 -0.1 -0.1 0.2 4

 5 Currency outside banks 2.1 2.0 2.0 2.5 2.8 3.5 3.5 4.3 3.9 6.3 5

 6 Commercial banking 5.4 2.1 12.4 13.5 4.8 9.7 13.5 21.2 13.1 -0.1 6

 7 Federal government deposits -1.0 -0.5 0.2 -0.2 0.0 2.9 2.2 0.7 -1.0 -5.1 7

 8 Deposits due to foreign 0.2 0.2 0.3 0.5 0.4 0.6 -0.3 1.7 3.0 2.6 8

 9 Private domestic deposits 6.2 2.4 11.8 13.3 4.3 6.2 11.6 18.8 11.1 2.3 9

10 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.1 10

11 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Net change in assets 7.3 4.5 15.3 15.1 8.1 12.8 18.0 24.4 16.6 7.0 12

13 Household sector 6.6 2.4 10.3 9.4 -1.9 7.2 13.3 12.7 11.9 5.0 13

14 Nonfinancial business 0.4 -0.7 2.7 2.9 5.7 1.1 -1.3 2.6 2.0 1.2 14

15 Corporate 0.3 -0.7 2.5 2.7 5.6 0.9 -1.5 2.4 1.4 1.2 15

16 Nonfarm noncorporate 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.3 16

17 Farm 0.1 0.0 0.1 0.2 0.1 0.1 0.2 0.3 0.2 -0.3 17

18 State and local governments -0.6 0.5 0.8 -0.7 1.9 -1.0 0.8 0.5 0.0 0.2 18

19 Federal government -1.6 -0.4 0.5 -2.3 1.6 3.5 3.5 -1.0 -1.8 -4.6 19

20 Rest of the world 0.3 0.7 0.6 0.9 0.8 1.0 0.3 2.2 3.6 3.9 20

21 Checkable deposits 0.1 0.4 0.3 0.6 0.3 0.5 -0.2 1.6 2.9 2.8 21

22 Currency 0.1 0.3 0.2 0.3 0.5 0.5 0.5 0.6 0.7 1.1 22

23 Financial sectors 0.3 -0.4 0.2 0.5 -0.0 0.6 0.9 2.0 1.0 0.7 23

24 Commercial banking -0.0 0.0 0.1 0.0 0.0 0.1 0.1 0.2 0.3 -0.2 24

25 Savings institutions 0.1 -0.6 -0.3 -0.4 -0.3 0.1 -0.1 0.5 0.1 0.2 25

26 Credit unions 0.0 0.0 0.1 -0.0 -0.0 0.2 0.1 0.0 -0.0 0.0 26

27 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.3 -0.0 -0.0 0.1 0.0 -0.1 27

28 Life insurance companies 0.0 0.0 0.0 0.1 -0.0 0.1 0.0 0.2 0.1 -0.1 28

29 Other insurance companies -0.1 0.0 -0.0 0.1 -0.0 0.1 0.1 0.0 -0.0 0.1 29

30 Private pension funds 0.0 -0.2 0.1 0.1 0.0 0.1 0.2 0.5 0.7 0.9 30

31 State and local govt. retirement funds 0.0 0.1 -0.1 0.1 -0.1 0.1 0.2 0.2 -0.2 -0.3 31

32 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Government-sponsored enterprises -0.0 0.0 0.0 0.0 0.0 -0.0 0.1 -0.0 0.1 -0.0 33

34 Finance companies 0.2 0.2 0.1 0.1 0.1 0.2 0.3 0.3 0.2 0.2 34

35 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Brokers and dealers 0.0 0.1 0.2 0.5 -0.1 -0.3 0.0 -0.0 -0.2 -0.1 36

37 Mail float 1.9 2.3 0.2 4.5 -0.0 0.4 0.5 5.3 -0.1 0.4 37
32 FFA, 1965-1974, Z.1, December 9, 2004

F.205 Time and Savings Deposits

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 33.2 20.3 40.6 33.3 -0.7 54.9 81.8 88.4 78.4 77.9 1

 2 Small time and savings deposits 27.3 18.0 34.7 26.6 14.4 30.6 68.4 70.7 39.4 36.9 2

 3 Commercial banking 14.2 11.0 18.1 13.9 6.5 14.3 28.7 25.7 12.8 17.4 3

 4 U.S.-chartered commercial banks 14.2 11.0 18.1 13.9 6.0 14.2 28.6 25.6 12.6 17.3 4

 5 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.1 0.1 5

 6 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.1 0.1 0.0 6

 7 Savings institutions 12.1 6.1 15.6 11.5 6.5 14.6 36.8 41.8 23.7 16.5 7

 8 Credit unions 1.0 0.8 1.0 1.2 1.4 1.7 2.9 3.3 2.9 3.0 8

 9 Large time deposits (1) 5.9 2.3 5.9 6.7 -15.1 24.2 13.5 17.7 39.1 41.0 9

10 Commercial banking 5.9 2.3 5.9 6.7 -15.1 23.5 12.7 16.8 38.0 39.3 10

11 U.S.-chartered commercial banks 5.8 2.3 5.8 6.6 -15.8 23.1 12.4 17.0 37.1 38.2 11

12 Foreign banking offices in U.S. 0.1 0.0 0.1 0.1 0.2 0.3 0.2 -0.3 0.8 1.0 12

13 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.1 0.1 0.0 13

14 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.7 0.8 0.9 1.1 1.7 14

15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Net change in assets 33.2 20.3 40.6 33.3 -0.7 54.9 81.8 88.4 78.4 77.9 16

17 Household sector 27.5 18.8 34.9 30.3 9.7 41.1 63.9 71.0 61.4 53.7 17

18 Nonfinancial business 2.3 -0.4 1.1 -0.6 -5.4 3.1 5.8 4.0 6.3 5.4 18

19 Corporate 2.3 -0.4 1.1 -0.6 -5.4 1.7 4.2 2.4 4.7 3.8 19

20 Nonfarm noncorporate 0.0 0.0 0.0 0.0 0.0 1.4 1.6 1.6 1.6 1.6 20

21 State and local governments 2.4 1.3 2.3 3.1 -5.8 10.0 7.2 6.7 6.6 5.0 21

22 Federal government -0.0 -0.0 0.0 0.1 -0.2 0.3 0.1 0.1 -0.2 0.0 22

23 Rest of the world 0.6 0.3 1.3 -0.3 1.4 -1.7 0.3 2.9 2.8 7.7 23

24 Financial sectors 0.4 0.4 1.0 0.6 -0.4 2.1 4.6 3.7 1.4 6.0 24

25 Savings institutions 0.0 0.1 0.1 0.1 -0.0 0.4 1.7 1.1 -0.5 0.7 25

26 Credit unions 0.0 -0.2 0.2 -0.2 -0.4 0.4 0.9 0.6 -0.4 0.6 26

27 Bank personal trusts and estates 0.0 0.0 0.0 0.0 -0.6 0.4 1.1 0.7 0.2 0.5 27

28 Private pension funds 0.4 0.5 0.6 0.7 0.7 0.9 1.0 1.2 1.5 1.9 28

29 State and local govt. retirement funds 0.0 0.0 0.2 0.1 -0.1 0.0 -0.1 0.0 0.6 0.7 29

30 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.6 30

31 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Net issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 1

 2 Net purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 2

 3 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 3

 4 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10
FFA, 1965-1974, Z.1, December 9, 2004 33

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 0.8 -0.0 -0.7 0.6 6.0 -3.6 3.9 1.7 16.4 2.2 1

 2 Commercial banking (net) 1.2 -0.1 -0.0 0.9 5.9 -4.1 4.0 2.2 16.3 1.4 2

 3 U.S.-chartered commercial banks 1.2 -0.1 -0.0 0.9 5.9 -4.1 4.0 2.2 16.3 1.4 3

 4 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.0 1.7 6

 7 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Brokers and dealers (net) -0.4 0.0 -0.6 -0.3 0.1 0.5 -0.1 -0.8 0.2 -0.9 8

 9 Net change in assets 1.4 2.6 -1.2 -0.9 7.1 -6.3 3.0 1.7 15.7 -4.6 9

10 Nonfinancial corporate business 0.3 0.3 -0.2 0.5 2.2 -3.1 0.8 1.6 8.6 -5.8 10

11 State and local governments 1.1 1.5 -0.5 -1.5 3.9 -4.0 0.6 -0.1 1.4 -1.8 11

12 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.0 12

13 Financial sectors 0.1 0.8 -0.4 0.2 1.1 0.8 1.6 0.2 5.2 3.0 13

14 Monetary authority -0.2 0.4 -0.5 -0.3 0.0 0.0 1.5 -1.4 -0.0 1.3 14

15 Savings institutions 0.0 0.0 0.0 0.1 0.2 0.1 0.7 0.5 2.0 2.3 15

16 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Other insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Private pension funds 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.8 0.4 0.5 18

19 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 19

20 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 20

21 Mutual funds 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 21

22 Government-sponsored enterprises -0.0 0.0 -0.0 0.0 0.2 0.8 -0.6 0.4 2.3 -1.0 22

23 Discrepancy--unallocated assets -0.6 -2.7 0.5 1.5 -1.2 2.7 0.8 -0.0 0.7 6.8 23

F.208 Open Market Paper

Billions of dollars

 1 Total net issues, all types 0.9 4.6 4.2 4.2 12.5 2.1 -0.1 1.6 8.4 17.8 1

 2 Commercial paper 0.9 4.3 3.4 4.1 11.4 0.5 -0.9 2.6 6.4 8.1 2

 3 Nonfinancial corporate business -0.3 0.8 1.4 1.2 1.1 1.8 -0.9 0.7 1.4 4.1 3

 4 Foreign issues in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 4

 5 Nonfinancial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 5

 6 Financial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Financial sectors 1.2 3.5 2.0 2.9 10.3 -1.3 -0.1 1.9 4.9 3.8 7

 8 Commercial banking 0.0 0.0 0.0 0.0 4.3 -1.9 -0.4 0.7 2.2 3.5 8

 9 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Finance companies 1.2 3.5 2.0 2.9 6.0 0.6 -0.5 -1.3 2.0 3.6 10

11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.8 2.5 0.7 -3.3 11

12 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Bankers acceptances (1) 0.0 0.2 0.7 0.1 1.0 1.6 0.8 -1.0 2.0 9.7 13

14 Net purchases, by sector 0.9 4.6 4.2 4.2 12.5 2.1 -0.1 1.6 8.4 17.8 14

15 Household sector 0.9 2.3 1.8 2.0 6.3 -2.3 -3.9 -5.2 4.1 5.6 15

16 Nonfinancial corporate business -0.3 1.5 1.1 1.1 2.5 1.8 1.9 3.0 0.6 4.1 16

17 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Rest of the world 0.4 0.2 0.0 0.6 1.0 0.5 -0.2 -0.1 0.3 0.4 18

19 Monetary authority 0.0 -0.0 0.0 -0.0 0.0 -0.0 0.0 -0.0 -0.0 0.5 19

20 Commercial banking (1) -0.5 -0.0 1.0 0.0 0.6 1.4 0.5 0.0 -0.5 1.4 20

21 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.1 0.3 1.1 0.7 0.7 0.3 23

24 Life insurance companies 0.0 0.1 0.1 0.0 0.8 0.8 0.6 0.2 0.0 1.1 24

25 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 1.3 2.3 25

26 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 26

27 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 27

28 Mutual funds 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 28

29 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.2 0.9 29

30 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.0 1.0 30

31 Funding corporations 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 31

(1) Excludes banks’ holdings of own acceptances.
34 FFA, 1965-1974, Z.1, December 9, 2004

F.209 Treasury Securities

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net issues 1.2 2.3 8.9 9.4 -0.8 13.1 26.0 14.2 6.6 12.1 1

 2 Savings bonds 0.6 0.6 1.0 0.6 -0.1 0.3 2.3 3.3 2.7 3.0 2

 3 Other Treasury issues 0.5 1.7 7.9 8.8 -0.7 12.8 23.7 10.9 3.9 9.1 3

 4 Net purchases 1.2 2.3 8.9 9.4 -0.8 13.1 26.0 14.2 6.6 12.1 4

 5 Household sector 1.2 4.3 -0.1 2.7 10.7 -10.7 -8.3 3.0 9.7 4.8 5

 6 Savings bonds 0.6 0.6 1.0 0.6 -0.1 0.3 2.3 3.3 2.7 3.0 6

 7 Other Treasury issues 0.6 3.7 -1.1 2.1 10.8 -11.0 -10.7 -0.3 7.0 1.8 7

 8 Nonfinancial corporate business -1.9 -1.5 -2.4 0.3 -3.3 0.6 2.8 -2.2 -4.4 1.4 8

 9 Nonfarm noncorporate business 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.1 9

10 State and local governments 2.2 0.6 -0.4 0.2 3.1 -0.1 -0.4 2.3 1.2 0.5 10

11 Rest of the world -0.3 -1.9 2.1 -0.6 -2.4 9.5 26.5 8.4 0.4 4.9 11

12 Monetary authority 4.0 3.2 5.3 4.0 4.2 5.0 6.9 0.8 8.7 1.6 12

13 Commercial banking -3.4 -3.4 6.5 2.1 -9.7 6.9 3.1 2.4 -8.9 -4.1 13

14 U.S.-chartered commercial banks -3.4 -3.4 6.3 2.0 -9.8 7.0 3.2 2.1 -8.8 -3.9 14

15 Foreign banking offices in U.S. 0.1 -0.1 0.1 0.0 0.0 -0.1 -0.2 0.1 -0.0 0.1 15

16 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Banks in U.S.-affiliated areas -0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 -0.1 -0.2 17

18 Savings institutions 0.2 -0.2 1.2 0.1 -1.9 -1.3 -0.4 -0.5 -1.7 -1.1 18

19 Credit unions 0.0 0.0 0.0 0.0 0.2 0.0 0.0 -0.0 0.3 0.1 19

20 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.8 0.5 -0.5 -0.1 0.9 0.9 20

21 Life insurance companies -0.5 -0.2 -0.2 -0.2 -0.3 -0.1 -0.2 -0.0 -0.4 -0.1 21

22 Other insurance companies -0.2 -0.5 -0.7 -0.4 -0.5 -0.1 -0.2 -0.3 -0.1 0.0 22

23 Private pension funds -0.2 -0.2 -0.3 0.4 -0.2 -0.1 0.0 1.3 2.0 3.2 23

24 State and local govt. retirement funds 0.1 -0.0 -1.0 -0.2 -0.5 -0.3 -1.2 -0.3 -1.1 -0.9 24

25 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 26

27 Mutual funds 0.0 0.6 -0.5 0.2 -0.5 0.2 -0.3 0.1 -0.0 0.4 27

28 Closed-end funds -0.0 -0.0 0.0 0.1 -0.0 -0.1 0.1 0.1 0.1 -0.1 28

29 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Government-sponsored enterprises 0.1 0.9 0.0 -0.1 -0.6 1.1 -0.6 -1.2 -0.1 0.3 30

31 Brokers and dealers -0.3 0.7 -0.8 0.8 -0.0 1.7 -1.6 0.2 -0.0 0.2 31

 Memo:

32 Federal government borrowing (1) 1.6 3.6 12.9 12.5 -3.2 12.1 24.9 15.0 6.9 11.9 32

(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).
FFA, 1965-1974, Z.1, December 9, 2004 35

F.210 Agency- and GSE-backed Securities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net issues 2.6 6.9 4.3 6.9 7.4 8.8 4.9 9.3 20.4 21.0 1

 2 Budget agencies 0.4 1.4 4.2 3.2 -2.3 -1.0 -1.1 0.9 0.4 -0.1 2

 3 Government-sponsored enterprises 1.9 5.1 -0.6 3.2 9.1 8.2 1.1 3.5 16.3 16.6 3

 4 Agency- and GSE-backed mortgage pools 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 4

 5 Net purchases 2.6 6.9 4.3 6.9 7.4 8.8 4.9 9.3 20.4 21.0 5

 6 Household sector 0.9 4.7 0.4 -0.1 4.6 4.2 -0.9 -5.7 -1.2 5.6 6

 7 Nonfinancial corporate business 0.2 -0.2 -0.0 0.4 0.2 -0.5 -0.3 0.1 1.0 0.9 7

 8 State and local governments 0.2 -0.7 0.4 3.4 1.4 -2.3 -2.2 3.3 6.6 3.1 8

 9 Federal government 0.0 1.3 -0.1 0.1 -1.3 -0.1 0.0 -0.0 -0.0 -0.0 9

10 Rest of the world 0.3 0.3 0.3 0.3 0.3 0.3 0.0 0.1 0.1 -0.5 10

11 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.8 0.6 2.8 11

12 Commercial banking 0.6 0.3 3.0 1.3 -0.3 3.8 4.0 4.1 7.6 3.6 12

13 U.S.-chartered commercial banks 0.6 0.3 3.0 1.3 -0.3 3.8 4.0 3.9 7.4 3.5 13

14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.1 14

15 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Savings institutions 0.0 0.1 0.2 0.3 1.2 2.2 3.8 3.4 2.2 1.3 17

18 Credit unions 0.0 0.1 0.1 0.1 0.1 0.3 0.2 0.6 0.2 0.3 18

19 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.6 0.4 -0.4 -0.1 0.6 0.8 19

20 Life insurance companies 0.0 0.1 -0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 20

21 Other insurance companies 0.1 0.7 -0.1 0.2 0.2 0.0 0.3 0.4 0.0 0.4 21

22 Private pension funds -0.0 -0.0 -0.1 0.1 0.2 0.3 -0.3 1.5 1.1 1.1 22

23 State and local govt. retirement funds 0.1 0.2 0.1 0.6 0.2 -0.1 0.1 0.6 1.2 1.2 23

24 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Government-sponsored enterprises 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.1 0.1 27

28 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as FNMA and FHLB;

 and agency- and GSE-backed mortgage pool 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 32.
36 FFA, 1965-1974, Z.1, December 9, 2004

F.211 Municipal Securities and Loans

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 7.2 6.2 7.2 8.4 11.4 12.0 16.2 14.2 16.0 15.3 1

 2 State and local governments 7.2 6.2 7.2 8.4 11.4 12.0 16.1 13.6 13.8 12.8 2

 3 Short-term (1) 0.6 0.7 1.8 0.1 2.8 2.3 2.5 0.1 0.3 2.7 3

 4 Long-term 6.6 5.6 5.3 8.3 8.6 9.6 13.6 13.6 13.5 10.0 4

 5 Nonprofit organizations (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.9 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.5 1.8 1.6 6

 7 Net change in assets 7.2 6.2 7.2 8.4 11.4 12.0 16.2 14.2 16.0 15.3 7

 8 Household sector 1.7 4.6 -3.0 -1.6 13.3 -1.0 -3.5 0.5 5.8 8.2 8

 9 Nonfinancial corporate business 0.9 -1.0 -0.3 0.5 -1.0 -0.6 1.0 1.0 -0.1 0.6 9

10 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 State and local governments -0.1 -0.0 0.0 0.0 0.1 0.1 -0.3 -0.3 0.2 0.5 11

12 Commercial banking 5.1 2.4 9.1 8.6 0.6 10.7 12.6 7.2 5.7 5.4 12

13 Savings institutions -0.1 -0.1 -0.0 0.1 0.0 0.0 0.2 0.5 0.1 0.3 13

14 Bank personal trusts and estates 0.0 0.0 0.0 0.0 -2.6 0.9 2.3 1.2 0.8 -1.1 14

15 Life insurance companies -0.2 -0.3 -0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.3 15

16 Other insurance companies 0.4 0.7 1.5 0.9 1.1 1.5 3.5 4.3 3.6 2.2 16

17 State and local govt. retirement funds -0.3 -0.1 -0.1 -0.0 -0.1 -0.3 0.1 -0.1 -0.3 -0.7 17

18 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Closed-end funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Brokers and dealers -0.2 0.0 0.0 0.0 -0.2 0.6 0.1 -0.1 0.2 -0.4 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

 1 Net issues 6.5 12.5 16.8 14.6 14.0 23.2 24.5 20.6 15.5 29.0 1

 2 Nonfinancial corporate business 4.9 10.2 14.7 12.9 12.0 19.8 18.8 12.2 9.2 19.7 2

 3 Rest of the world (1) 0.5 0.7 1.2 1.1 1.0 0.9 0.9 1.0 1.0 2.4 3

 4 Financial sectors 1.2 1.6 1.0 0.6 1.0 2.5 4.7 7.4 5.4 6.9 4

 5 Commercial banking 0.8 0.1 0.3 0.3 -0.2 1.2 2.0 3.1 0.9 1.1 5

 6 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Finance companies 0.4 1.5 0.7 0.3 1.1 0.8 2.3 4.0 3.9 5.6 8

 9 REITs 0.0 0.0 0.0 0.0 0.1 0.5 0.4 0.4 0.6 0.2 9

10 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Net purchases 6.5 12.5 16.8 14.6 14.0 23.2 24.5 20.6 15.5 29.0 12

13 Household sector -1.1 2.7 4.4 5.1 4.5 8.1 7.1 1.9 2.9 11.6 13

14 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Rest of the world (2) -0.1 0.6 -0.1 0.2 0.5 0.7 0.3 0.1 0.1 0.9 15

16 Commercial banking -0.1 0.1 0.9 0.2 -0.1 1.1 0.9 1.3 0.3 1.0 16

17 Savings institutions -0.1 0.3 2.1 1.4 0.6 2.7 4.9 2.6 -3.1 -0.2 17

18 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.1 0.4 1.7 1.3 1.3 1.5 18

19 Life insurance companies 2.8 2.4 3.8 3.7 1.7 1.5 5.5 7.0 5.9 4.0 19

20 Other insurance companies 0.6 0.6 0.7 1.2 0.8 2.3 0.3 -0.7 -0.1 2.0 20

21 Private pension funds 1.5 2.5 1.1 0.6 0.6 1.8 -0.8 2.0 2.1 2.3 21

22 State and local govt. retirement funds 2.3 2.9 3.7 2.6 4.0 4.5 3.9 4.2 5.2 6.1 22

23 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Mutual funds 0.4 0.4 -0.4 -0.6 0.9 0.6 0.2 0.5 0.1 0.6 25

26 Closed-end funds 0.0 0.0 0.1 0.3 0.0 -0.6 0.4 0.2 0.4 -0.1 26

27 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Brokers and dealers 0.3 0.1 0.4 -0.2 0.4 0.1 0.1 0.2 0.4 -0.6 30

31 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

(1) Net purchases of foreign issues by U.S. residents.

(2) Net purchases of U.S. issues by foreign residents.
FFA, 1965-1974, Z.1, December 9, 2004 37

F.213 Corporate Equities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net issues -0.4 1.6 1.7 1.4 5.5 5.4 14.7 13.1 12.8 5.2 1

 2 Nonfinancial corporate business -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 2

 3 Rest of the world (2) 0.3 -0.0 0.1 0.5 0.5 0.2 0.2 -0.4 -0.3 -0.5 3

 4 Financial sectors -0.7 0.4 -0.8 1.1 1.6 -0.4 3.1 2.6 5.2 1.6 4

 5 Commercial banking -0.1 -0.0 -0.0 -0.1 -0.0 0.1 0.6 1.2 1.2 1.0 5

 6 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Other insurance companies 0.1 0.1 0.1 0.2 0.5 0.4 0.6 0.5 0.5 0.9 7

 8 Closed-end funds -0.7 0.3 -0.8 0.7 0.5 -2.3 1.1 -0.1 2.7 0.9 8

 9 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 REITs 0.0 0.0 0.0 0.1 0.6 1.4 0.8 0.8 0.5 -1.4 10

11 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.3 0.3 11

12 Net purchases -0.4 1.6 1.7 1.4 5.5 5.4 14.7 13.1 12.8 5.2 12

13 Household sector -5.2 -4.3 -6.7 -11.7 -16.7 -5.3 -12.6 -14.8 -11.5 -3.5 13

14 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Rest of the world (3) -0.4 -0.3 0.7 2.1 1.6 0.7 0.8 2.4 2.8 0.2 15

16 Commercial banking 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 16

17 Savings institutions 0.2 0.0 0.2 0.3 0.2 0.3 0.5 0.6 0.4 0.2 17

18 Bank personal trusts and estates 0.0 0.0 0.0 0.0 8.1 0.8 6.6 4.4 7.4 1.8 18

19 Life insurance companies 0.7 0.2 1.0 1.3 1.3 1.6 4.0 3.8 3.3 1.9 19

20 Other insurance companies 0.1 0.4 0.3 0.8 1.0 1.0 2.5 3.0 2.4 -0.5 20

21 Private pension funds 3.1 3.5 4.6 4.8 5.4 4.6 8.9 12.1 4.1 1.8 21

22 State and local govt. retirement funds 0.4 0.5 0.7 1.3 1.8 2.1 3.2 3.7 3.4 2.6 22

23 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Mutual funds 1.3 1.0 1.8 2.5 1.8 1.2 0.4 -1.8 -2.2 -0.4 24

25 Closed-end funds -0.7 0.3 -1.0 0.3 0.5 -1.6 0.5 -0.4 2.1 1.1 25

26 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Brokers and dealers 0.2 0.3 0.1 -0.3 0.6 -0.0 -0.1 0.1 0.6 0.1 27

(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 (1)

Billions of dollars

 1 Net issues 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 1

 2 Net purchases 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 2

 3 Household sector 2.1 2.2 0.9 2.2 2.2 1.0 -0.0 -1.7 -2.6 -1.5 3

 4 Nonfinancial corporate business 0.1 0.1 0.1 0.2 0.1 -0.0 -0.1 -0.0 0.2 0.3 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Commercial banking 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.4 0.1 0.3 0.3 0.4 0.1 8

 9 Life insurance companies 0.0 0.0 0.0 0.0 0.4 0.4 -0.4 -0.3 0.2 0.4 9

10 Private pension funds 0.0 0.1 0.0 0.1 0.2 0.2 0.2 0.3 0.6 0.8 10

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
38 FFA, 1965-1974, Z.1, December 9, 2004

F.215 Bank Loans Not Elsewhere Classified

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Total loans by commercial

 1 banking, flow of funds basis 26.5 19.1 17.9 28.0 27.4 14.3 30.4 60.0 76.5 58.6 1

 - Loans elsewhere classified:

 2 Open market paper -0.5 -0.0 1.0 0.0 0.6 1.4 0.5 0.0 -0.5 1.4 2

 3 Mortgages 5.7 4.7 4.5 6.6 5.4 2.8 10.0 16.8 19.8 12.8 3

 4 Consumer credit 5.4 3.0 3.5 6.8 4.9 2.2 8.7 12.7 12.6 3.4 4

 5 Security credit -0.2 0.6 1.5 1.3 -1.1 1.4 0.8 4.8 -3.4 -1.0 5

 6 = Banking sector total bank loans n.e.c. 16.1 10.9 7.4 13.3 17.5 6.5 10.5 25.7 48.0 42.0 6

 7 U.S.-chartered commercial banks 16.0 10.5 7.3 12.9 12.3 5.0 10.1 25.1 42.3 34.8 7

 8 Foreign banking offices in U.S. 0.1 0.4 0.1 0.4 1.2 2.5 0.5 0.8 4.0 6.3 8

 9 Bank holding companies 0.0 0.0 0.0 0.0 3.9 -1.0 -0.1 -0.2 1.7 0.9 9

10 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 11

12 = Total bank loans n.e.c. 16.1 10.8 7.4 13.3 17.5 6.5 10.5 25.7 48.0 42.0 12

13 Net change in liabilities 16.1 10.8 7.4 13.3 17.5 6.5 10.5 25.7 48.0 42.0 13

14 Nonfinancial sectors 12.6 11.4 9.9 9.6 16.0 4.4 8.3 19.0 40.8 41.3 14

15 Household sector -0.4 0.7 2.4 -1.3 0.1 -0.7 -0.0 0.3 3.6 5.6 15

16 Corporate business 10.8 8.4 6.5 9.8 13.4 4.8 4.1 12.8 26.6 22.7 16

17 Nonfarm noncorporate business 0.9 1.4 0.7 1.1 2.2 -0.4 0.9 1.1 5.0 7.3 17

18 Farm business 0.7 0.9 0.7 0.4 0.6 0.8 1.3 1.8 2.9 1.1 18

19 Rest of the world 0.6 -0.1 -0.4 -0.4 -0.3 -0.2 2.0 3.0 2.7 4.7 19

20 Foreign official institutions 0.1 -0.1 0.0 -0.2 -0.0 -0.1 0.2 0.2 0.4 0.3 20

21 Foreign banks 0.2 0.1 -0.4 0.1 0.2 -0.1 0.9 1.1 1.6 3.1 21

22 Other foreign 0.3 -0.1 0.0 -0.3 -0.4 0.0 0.9 1.7 0.7 1.3 22

23 Financial sectors 3.5 -0.6 -2.5 3.7 1.5 2.1 2.2 6.7 7.2 0.6 23

24 Savings institutions 0.2 0.1 -0.1 0.1 0.1 -0.1 0.7 0.4 0.4 -0.4 24

25 Finance companies 2.8 -0.1 -0.8 0.5 0.2 1.0 -1.0 3.3 1.6 -0.3 25

26 Mortgage companies 0.5 -0.6 -1.6 2.6 0.8 1.2 2.0 1.7 1.9 -1.9 26

27 REITs 0.0 0.0 0.0 0.6 0.4 0.1 0.6 1.3 3.4 3.3 27
FFA, 1965-1974, Z.1, December 9, 2004 39

F.216 Other Loans and Advances

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total other loans and advances 6.4 7.2 3.2 8.4 16.8 9.3 4.6 7.3 22.1 30.2 1

 2 U.S. government loans 2.8 2.7 3.7 3.6 3.4 2.5 3.2 2.5 4.4 3.5 2

 3 Liab.: Household sector 0.2 0.5 0.3 0.4 0.4 0.3 0.4 0.4 0.2 0.5 3

 4 Nonfinancial corporate business 0.3 0.4 0.2 0.2 0.1 0.3 0.2 0.2 0.3 1.5 4

 5 Nonfarm noncorporate business 0.2 0.2 0.4 0.3 0.3 0.6 0.4 0.1 1.5 0.5 5

 6 Farm business 0.1 -0.0 0.2 -0.1 -0.0 -0.1 0.0 0.0 0.4 0.1 6

 7 State and local governments 0.3 0.6 0.2 0.3 0.7 0.1 0.4 0.3 0.3 0.7 7

 8 Rest of the world 1.5 1.3 2.6 2.2 2.1 1.3 1.8 1.5 1.7 -0.5 8

 9 Government-sponsored enterprises 0.2 -0.2 -0.1 0.2 -0.3 0.0 0.0 0.0 0.0 0.7 9

10 Foreign loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 10

11 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 11

 Customers liability on acceptances

12 outstanding (Commercial banking asset) 0.0 0.2 0.7 0.1 1.0 1.6 0.8 -1.0 2.0 9.6 12

13 Liab.: Nonfinancial corporate business 0.1 0.3 0.2 0.3 0.7 0.8 0.5 0.1 1.1 2.5 13

14 Rest of the world -0.1 -0.1 0.5 -0.2 0.3 0.8 0.3 -1.0 0.9 7.1 14

15 Savings institution loans to business -0.0 0.1 0.0 0.0 0.0 0.2 0.2 -0.1 -0.1 0.1 15

16 Liab.: Nonfinancial corporate business -0.0 0.1 0.0 0.0 0.0 0.1 0.1 -0.1 -0.1 0.0 16

17 Nonfarm noncorporate business -0.0 0.1 0.0 0.0 0.0 0.1 0.1 -0.1 -0.1 0.0 17

18 Policy loans (Household liability) 0.6 1.5 1.0 1.3 2.6 2.3 1.0 1.0 2.2 2.7 18

19 Asset: Federal government 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.0 0.0 0.0 19

20 Life insurance companies 0.5 1.4 0.9 1.2 2.5 2.2 1.0 0.9 2.2 2.7 20

21 Govt.-sponsored enterprises loans 1.0 1.6 -1.8 1.2 4.8 2.3 -2.0 0.8 8.5 9.3 21

22 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Noncorporate business (FCS) 0.1 0.2 0.2 0.1 0.2 0.3 -0.0 0.3 0.3 1.0 23

24 Farm business (FCS) 0.3 0.4 0.5 0.2 0.6 0.7 0.7 0.4 1.1 1.7 24

25 Commercial banks (FHLB and SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Savings institutions (FHLB and SLMA) 0.7 0.9 -2.5 0.9 4.0 1.3 -2.7 0.0 7.2 6.7 26

27 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Finance company loans to business 2.0 1.1 -0.3 2.2 5.0 0.4 1.3 4.2 5.0 4.8 31

32 Liab.: Nonfinancial corporate business 1.8 1.0 -0.3 2.0 4.5 0.3 1.2 3.8 4.5 4.4 32

33 Nonfarm noncorporate business 0.2 0.1 -0.0 0.2 0.5 0.0 0.1 0.4 0.5 0.5 33
40 FFA, 1965-1974, Z.1, December 9, 2004

F.217 Total Mortgages

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in mortgages 27.5 23.7 23.7 29.6 31.0 30.9 49.5 71.9 77.9 62.6 1

 2 Home 17.2 13.0 13.4 17.2 18.2 13.5 27.0 39.0 43.4 35.9 2

 3 Multifamily residential 3.6 3.1 3.5 3.4 4.9 8.1 9.7 12.8 10.4 6.9 3

 4 Commercial 4.5 5.8 4.8 6.8 6.0 8.2 10.1 17.2 19.6 14.7 4

 5 Farm 2.2 1.9 2.0 2.2 1.8 1.1 2.6 3.0 4.4 5.1 5

 6 Net borrowing 27.5 23.7 23.7 29.6 31.0 30.9 49.5 71.9 77.9 62.6 6

 7 Household sector 18.0 13.6 11.5 20.2 19.0 13.2 25.3 35.7 40.6 37.1 7

 8 Nonfinancial business 9.6 10.2 12.2 9.3 11.9 17.7 24.1 35.8 37.0 25.5 8

 9 Corporate 2.5 3.6 4.3 0.4 0.8 13.2 4.0 8.2 30.2 -0.1 9

10 Nonfarm noncorporate 4.8 4.8 6.0 6.7 9.3 3.3 17.5 24.6 2.4 20.5 10

11 Farm 2.2 1.9 2.0 2.2 1.8 1.1 2.6 3.0 4.4 5.1 11

12 Federal government 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 12

13 REITs 0.0 0.0 0.0 0.2 0.2 0.1 0.1 0.5 0.3 0.1 13

14 Net change in assets 27.5 23.7 23.7 29.6 31.0 30.9 49.5 71.9 77.9 62.6 14

15 Household sector 0.5 1.7 2.1 2.3 1.7 1.8 -2.6 1.0 -0.0 3.4 15

16 Nonfinancial corporate business 0.0 0.0 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.1 0.4 16

17 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.3 0.4 1.2 1.1 0.3 0.1 17

18 State and local governments 0.2 0.2 0.1 0.2 0.5 0.9 1.1 1.4 1.7 2.5 18

19 Federal government -0.0 1.0 0.9 1.4 1.0 0.3 -0.4 -0.7 -0.6 2.7 19

20 Commercial banking 5.7 4.7 4.5 6.6 5.4 2.8 10.0 16.8 19.8 12.8 20

21 Savings institutions (1) 13.1 7.8 9.5 12.1 12.2 11.3 25.9 36.3 32.8 21.2 21

22 Credit unions 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.2 0.4 0.1 22

23 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.3 0.1 0.2 0.0 0.2 0.4 23

24 Life insurance companies 4.9 4.6 2.9 2.5 2.1 2.3 1.1 1.5 4.4 4.9 24

25 Other insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 25

26 Private pension funds 0.6 0.5 0.2 -0.0 0.1 -0.0 -0.5 -0.9 -0.4 -0.0 26

27 State and local govt. retirement funds 0.7 0.8 0.5 0.4 0.2 0.3 0.4 0.2 0.7 0.6 27

28 Government-sponsored enterprises (1) 1.1 2.6 1.8 2.2 4.4 5.4 3.6 4.0 7.1 10.3 28

29 Agency- and GSE-backed mortgage pools 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 29

30 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Finance companies 0.0 0.0 0.0 0.0 0.0 0.6 0.5 0.5 0.5 0.5 31

32 Mortgage companies 0.5 -0.6 0.4 0.6 0.8 1.2 2.0 1.7 1.9 -1.9 32

33 REITs 0.0 0.0 0.0 0.8 1.2 1.9 2.3 4.2 5.6 0.2 33

(1) FHLB loans to savings institutions are included in other loans and advances.
FFA, 1965-1974, Z.1, December 9, 2004 41

F.218 Home Mortgages (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net borrowing 17.2 13.0 13.4 17.2 18.2 13.5 27.0 39.0 43.4 35.9 1

 2 Household sector 17.2 13.0 13.4 17.2 18.2 12.4 24.6 35.0 40.6 37.4 2

 3 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.2 0.5 0.8 0.6 -0.3 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.9 1.9 3.2 2.2 -1.2 4

 5 Net change in assets 17.2 13.0 13.4 17.2 18.2 13.5 27.0 39.0 43.4 35.9 5

 6 Household sector 1.2 1.1 1.6 2.0 1.8 -1.3 0.4 -0.8 0.6 3.0 6

 7 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 0.1 -0.0 8

 9 State and local governments 0.0 0.0 -0.0 0.0 0.1 0.1 0.1 0.1 0.6 0.7 9

10 Federal government -0.1 0.6 0.7 0.9 0.2 -0.1 -0.6 -0.6 -0.8 1.4 10

11 Commercial banking 3.2 2.4 2.5 3.5 2.9 1.0 5.7 9.0 11.0 6.6 11

12 Savings institutions 10.1 6.0 6.9 8.8 9.4 7.4 16.0 26.3 24.8 16.0 12

13 Credit unions 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.2 0.4 0.1 13

14 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.3 0.1 0.2 0.0 0.2 0.4 14

15 Life insurance companies 1.1 0.6 -0.5 -0.7 -1.4 -0.9 -2.1 -2.3 -1.9 -1.4 15

16 Private pension funds 0.3 0.2 0.1 -0.0 0.1 -0.0 -0.3 -0.4 -0.2 -0.0 16

17 State and local govt. retirement funds 0.3 0.4 0.2 0.2 0.0 0.1 0.1 0.0 0.2 0.1 17

18 Government-sponsored enterprises 0.5 1.9 1.1 1.6 3.8 4.6 2.1 1.8 3.4 5.6 18

19 Agency- and GSE-backed mortgage pools 0.1 0.2 0.4 0.3 0.4 1.2 4.2 4.0 2.9 4.4 19

20 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Finance companies 0.0 0.0 0.0 0.0 0.0 0.4 0.3 0.3 0.3 0.3 21

22 Mortgage companies 0.5 -0.5 0.3 0.5 0.7 0.5 0.3 0.6 1.2 -1.2 22

23 REITs 0.0 0.0 0.0 0.0 0.2 0.4 0.2 0.4 0.7 -0.2 23

 Memo:

24 Home equity loans included above (2) ND ND ND ND ND ND ND ND ND ND 24

25 Commercial banking ND ND ND ND ND ND ND ND ND ND 25

26 Savings institutions ND ND ND ND ND ND ND ND ND ND 26

27 Credit unions ND ND ND ND ND ND ND ND ND ND 27

28 ABS issuers ND ND ND ND ND ND ND ND ND ND 28

29 Finance companies ND ND ND ND ND ND ND ND ND ND 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. Loans of finance companies (line 29) include some first liens.

 Excludes home equity loans held by mortgage companies and individuals.

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing 3.6 3.1 3.5 3.4 4.9 8.1 9.7 12.8 10.4 6.9 1

 2 Nonfinancial corporate business 0.4 0.3 0.3 0.2 0.2 0.2 0.3 0.4 0.4 0.3 2

 3 Nonfarm noncorporate business 3.3 2.8 3.3 3.3 4.7 7.9 9.5 12.3 10.0 6.6 3

 4 Federal government 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 4

 5 REITs 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.2 0.1 0.0 5

 6 Net change in assets 3.6 3.1 3.5 3.4 4.9 8.1 9.7 12.8 10.4 6.9 6

 7 Household sector -0.5 -0.1 -0.0 -0.1 -0.4 1.1 -1.6 0.3 -0.9 -0.0 7

 8 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.3 0.0 -0.1 9

10 State and local governments 0.2 0.1 0.1 0.2 0.4 0.6 0.7 1.0 0.9 1.4 10

11 Federal government -0.0 0.3 0.2 0.3 0.7 0.5 0.4 0.3 0.3 0.7 11

12 Commercial banking 0.3 0.1 0.3 0.3 0.5 0.1 0.7 1.8 1.2 0.6 12

13 Savings institutions 1.6 0.8 1.2 1.4 1.5 2.3 5.6 4.8 3.2 1.7 13

14 Life insurance companies 1.6 1.5 1.4 1.0 1.5 1.7 0.8 0.6 1.1 1.2 14

15 Private pension funds 0.2 0.2 0.1 -0.0 0.1 -0.0 -0.3 -0.3 -0.1 0.0 15

16 State and local govt. retirement funds 0.2 0.3 0.2 0.1 0.1 0.1 0.3 -0.1 -0.1 0.1 16

17 Government-sponsored enterprises -0.0 0.0 -0.0 0.0 0.0 0.3 0.8 1.0 1.8 2.2 17

18 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 0.2 0.2 18

19 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Mortgage companies 0.1 -0.1 0.1 0.1 0.1 0.5 1.2 0.9 0.4 -1.3 21

22 REITs 0.0 0.0 0.0 0.1 0.4 0.8 0.9 2.0 2.4 0.2 22
42 FFA, 1965-1974, Z.1, December 9, 2004

F.220 Commercial Mortgages

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net borrowing 4.5 5.8 4.8 6.8 6.0 8.2 10.1 17.2 19.6 14.7 1

 2 Household sector 0.8 0.6 -1.8 2.9 0.7 0.8 0.7 0.7 0.0 -0.4 2

 3 Nonfinancial corporate business 2.1 3.2 4.0 0.2 0.5 12.8 3.2 7.0 29.2 -0.1 3

 4 Nonfarm noncorporate business 1.6 2.0 2.7 3.4 4.6 -5.4 6.1 9.1 -9.8 15.1 4

 5 REITs 0.0 0.0 0.0 0.1 0.2 0.1 0.1 0.3 0.2 0.1 5

 6 Net change in assets 4.5 5.8 4.8 6.8 6.0 8.2 10.1 17.2 19.6 14.7 6

 7 Household sector -0.9 0.4 -0.0 -0.6 -0.3 1.9 -2.6 0.7 -1.0 -1.1 7

 8 Nonfinancial corporate business 0.0 0.0 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.1 0.4 8

 9 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.3 0.4 0.4 0.4 0.2 0.2 9

10 State and local governments 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.3 0.2 0.3 10

11 Federal government 0.0 0.0 0.1 0.1 0.1 0.1 0.1 -0.2 -0.1 0.3 11

12 Commercial banking 2.0 2.0 1.6 2.6 1.8 1.2 3.0 5.4 6.9 5.0 12

13 Savings institutions 1.3 1.0 1.3 1.9 1.3 1.5 4.5 5.2 4.8 3.4 13

14 Life insurance companies 1.7 2.1 1.6 1.9 2.0 1.6 2.5 3.1 4.9 4.8 14

15 Other insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 15

16 Private pension funds 0.2 0.2 0.1 0.0 0.0 0.0 0.1 -0.2 -0.0 -0.0 16

17 State and local govt. retirement funds 0.1 0.1 0.1 0.1 0.0 0.2 0.0 0.1 0.5 0.5 17

18 Agency- and GSE-backed mortgage pools 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.3 -0.1 18

19 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Finance companies 0.0 0.0 0.0 0.0 0.0 0.2 0.1 0.1 0.1 0.1 20

21 Mortgage companies 0.0 -0.0 0.0 0.0 0.0 0.2 0.5 0.3 0.2 0.6 21

22 REITs 0.0 0.0 0.0 0.7 0.6 0.7 1.2 1.7 2.5 0.2 22

F.221 Farm Mortgages

Billions of dollars

 1 Net borrowing (Farm business) 2.2 1.9 2.0 2.2 1.8 1.1 2.6 3.0 4.4 5.1 1

 2 Net change in assets 2.2 1.9 2.0 2.2 1.8 1.1 2.6 3.0 4.4 5.1 2

 3 Household sector 0.7 0.3 0.6 0.9 0.7 0.1 1.2 0.8 1.3 1.5 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 4

 5 State and local governments 0.0 0.0 -0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 5

 6 Federal government 0.1 0.1 -0.1 0.1 0.0 -0.2 -0.3 -0.1 -0.0 0.2 6

 7 Commercial banking 0.3 0.2 0.2 0.2 0.3 0.5 0.6 0.6 0.7 0.6 7

 8 Savings institutions -0.0 0.0 0.1 0.0 -0.0 0.0 -0.1 0.0 0.0 -0.0 8

 9 Life insurance companies 0.5 0.4 0.3 0.2 -0.0 -0.1 -0.0 0.1 0.3 0.3 9

10 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.1 -0.1 -0.0 0.0 0.1 -0.1 10

11 Government-sponsored enterprises 0.6 0.7 0.7 0.5 0.6 0.5 0.7 1.2 1.9 2.5 11

12 Agency- and GSE-backed mortgage pools 0.1 0.1 0.2 0.1 0.2 0.3 0.4 0.3 0.2 -0.0 12
FFA, 1965-1974, Z.1, December 9, 2004 43

F.222 Consumer Credit

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities (Households) 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 1

 2 Net change in assets 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 2

 3 Nonfinancial corporate business 0.9 0.2 0.3 0.1 0.1 0.7 2.7 0.7 -0.6 1.1 3

 4 Nonfarm noncorporate business 0.3 -0.1 -0.1 -0.0 -0.1 0.1 -0.1 -0.1 -0.2 -0.4 4

 5 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Commercial banking 5.4 3.0 3.5 6.8 4.9 2.2 8.7 12.7 12.6 3.4 6

 7 Savings institutions 0.2 0.2 0.2 0.3 0.5 0.3 0.2 0.5 3.4 0.6 7

 8 Credit unions 1.0 0.9 0.7 1.3 1.7 1.0 1.8 2.2 2.7 2.3 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 9

10 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Finance companies 2.3 1.8 0.5 2.3 2.8 0.1 2.3 3.6 4.6 1.9 11

F.223 Trade Credit

Billions of dollars

 1 Net change in trade payables 16.9 14.0 12.7 20.9 27.3 13.7 20.5 32.1 52.3 43.2 1

 2 Household sector 0.4 0.4 0.6 0.6 0.7 0.6 0.9 0.8 0.7 1.2 2

 3 Nonfinancial corporate business 11.7 9.1 5.9 16.5 19.5 7.9 13.6 23.1 38.1 26.4 3

 4 Nonfarm noncorporate business -0.9 -1.5 0.1 -1.0 1.0 -0.4 -0.4 0.7 2.6 2.5 4

 5 Farm business 0.6 0.4 -0.2 -1.1 -0.4 -0.3 0.7 0.5 0.8 0.7 5

 6 State and local governments 4.5 4.6 5.1 5.5 5.7 5.9 6.1 6.1 7.1 9.8 6

 7 Federal government 0.6 0.8 0.7 -0.0 -0.1 -1.0 -1.0 0.3 1.1 -0.5 7

 8 Rest of the world -0.1 0.3 0.5 0.4 0.8 1.0 0.5 0.5 1.9 3.1 8

 9 Brokers and dealers 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 9

10 Net change in trade receivables 14.7 15.7 11.8 20.4 27.0 8.7 13.3 29.9 48.9 35.6 10

11 Nonfinancial corporate business 13.3 12.4 8.3 18.5 22.9 8.3 12.4 26.4 40.9 31.8 11

12 Nonfarm noncorporate business -0.2 0.6 0.5 -1.4 0.5 -1.5 1.5 0.6 2.3 2.2 12

13 State and local governments 0.8 0.6 0.6 0.9 1.2 0.6 0.9 1.5 2.8 -2.0 13

14 Federal government 0.4 1.2 1.5 0.6 0.9 -0.8 -1.7 -0.8 0.3 1.0 14

15 Rest of the world 0.2 0.6 0.7 1.5 1.0 1.6 -0.1 1.0 2.0 2.1 15

16 Other insurance companies 0.2 0.2 0.3 0.3 0.4 0.5 0.3 1.2 0.6 0.5 16

17 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Discrepancy 2.2 -1.6 0.9 0.4 0.3 5.0 7.2 2.2 3.4 7.6 18

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities 1.1 0.8 7.0 6.6 -6.7 -0.8 3.8 8.7 -7.9 -3.6 1

 2 Household sector 0.3 -0.0 3.0 2.6 -3.3 -1.3 2.5 3.6 -4.2 -1.5 2

 3 Rest of the world 0.0 0.0 0.2 0.2 -0.2 0.0 0.0 0.1 -0.2 -0.0 3

 4 Brokers and dealers 0.7 0.8 3.8 3.7 -3.1 0.5 1.3 4.9 -3.6 -2.1 4

 5 Customer credit balances (HH) 0.9 0.2 2.3 2.4 -2.0 -1.0 0.5 0.2 -0.2 -1.0 5

 6 From U.S.-chartered commercial banks 0.1 0.5 1.5 1.3 -1.1 1.4 0.8 4.7 -2.9 -1.0 6

 7 From foreign banking offices in U.S. -0.3 0.1 0.0 0.0 0.0 0.0 0.0 0.1 -0.6 -0.1 7

 8 Net change in assets 1.1 0.8 7.0 6.6 -6.7 -0.8 3.8 8.7 -7.9 -3.6 8

 9 Household sector 0.9 0.2 2.2 2.1 -1.8 -0.9 0.5 0.1 -0.2 -1.0 9

10 Rest of the world 0.0 0.0 0.1 0.3 -0.2 -0.1 -0.0 0.1 -0.0 -0.0 10

11 Commercial banking -0.2 0.6 1.5 1.3 -1.1 1.4 0.8 4.8 -3.4 -1.0 11

12 Brokers and dealers 0.4 -0.0 3.2 2.8 -3.5 -1.3 2.6 3.7 -4.3 -1.6 12
44 FFA, 1965-1974, Z.1, December 9, 2004

F.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Life insurance reserves:

 1 Net change in liabilities 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 1

 2 Federal government 0.1 0.1 0.1 -0.0 0.1 0.1 0.1 0.2 0.2 0.1 2

 3 Life insurance companies 4.7 4.6 5.1 4.8 5.0 5.2 6.3 6.7 7.2 7.0 3

 4 Net change in assets (Households) 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 4

 Pension fund reserves:

 5 Net change in liabilities 13.0 15.5 14.5 16.3 18.3 20.5 24.0 43.6 34.5 37.5 5

 6 Life insurance companies 2.1 2.1 1.5 2.3 3.1 2.9 4.6 4.4 5.7 6.0 6

 7 Private pension funds (1) 6.3 7.9 7.6 7.9 8.2 8.9 10.0 27.7 17.1 19.5 7

 8 State and local govt. retirement funds 3.3 4.2 4.1 4.8 5.5 6.4 6.6 8.5 9.5 9.3 8

 9 Federal government retirement funds (2) 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 9

10 Net change in assets (Households) (3) 13.0 15.5 14.5 16.3 18.3 20.5 24.0 43.6 34.5 37.5 10

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Federal Employees Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

(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

 1 Net change in taxes payable by all 2.1 -0.9 -4.4 1.3 -1.5 -2.1 4.0 3.9 5.4 9.0 1

 businesses

 2 Nonfinancial corporate business 2.1 -0.9 -4.2 1.1 -1.7 -2.6 3.1 2.4 3.8 7.4 2

 3 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.5 1.5 1.6 3

 4 U.S.-chartered commercial banks -0.1 -0.0 -0.1 -0.1 0.1 0.3 -0.0 -0.2 0.1 0.1 4

 5 Savings institutions 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 5

 6 Life insurance companies -0.0 0.1 -0.1 0.2 0.1 0.1 -0.1 0.0 0.0 -0.0 6

 7 Other insurance companies 0.1 0.0 0.0 -0.0 0.1 0.1 -0.1 0.1 0.0 0.0 7

 8 Finance companies 0.1 -0.0 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Brokers and dealers 0.0 0.0 0.1 0.0 -0.1 0.0 -0.0 0.0 -0.0 -0.1 9

10 Net change in business taxes receivable 1.4 -1.3 -4.9 1.1 -3.1 -2.5 2.8 1.5 3.3 1.8 10

11 State and local governments 0.1 0.0 0.1 0.2 0.0 0.1 1.3 1.8 1.6 1.7 11

12 Federal government 1.3 -1.4 -5.1 0.9 -3.1 -2.6 1.6 -0.2 1.6 0.1 12

13 Discrepancy 0.7 0.4 0.5 0.2 1.6 0.5 1.1 2.4 2.2 7.2 13

F.227 Investment in Bank Personal Trusts and Estates

Billions of dollars

 1 Liab.: Bank personal trusts and estates 0.0 0.0 0.0 0.0 13.2 4.9 13.5 9.5 13.6 6.4 1

 2 Asset: Household sector 0.0 0.0 0.0 0.0 13.2 4.9 13.5 9.5 13.6 6.4 2

F.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment 2.2 2.0 0.2 3.1 -0.7 -0.1 1.3 -5.8 8.9 -28.2 1

 2 Nonfarm noncorporate business 3.2 3.9 -0.0 1.2 -0.2 0.5 2.3 -3.1 12.0 -22.2 2

 3 Farm business -1.0 -1.9 0.2 1.9 -0.5 -0.6 -1.0 -2.7 -3.8 -6.8 3

 4 Brokers and dealers 0.1 -0.0 0.1 0.1 0.0 0.2 0.3 0.2 0.7 0.5 4
FFA, 1965-1974, Z.1, December 9, 2004 45

F.229 Total Miscellaneous Financial Claims

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 11.9 8.1 12.2 19.1 25.2 31.3 34.9 50.9 50.2 34.1 1

 2 Household sector 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 2

 3 Nonfinancial corporate business 1.4 1.1 -0.9 5.3 4.1 -5.2 0.9 0.5 2.0 5.8 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 8.6 2.9 2.7 3.4 5.7 4

 5 Federal government 1.3 0.9 1.4 2.1 1.2 2.9 3.7 3.0 1.8 2.7 5

 6 Rest of the world 4.5 5.2 4.7 3.7 5.7 6.4 6.1 5.8 8.8 8.8 6

 7 Monetary authority -0.3 0.1 0.1 0.4 0.3 0.5 -0.2 0.0 1.3 -0.2 7

 8 Commercial banking 1.5 0.5 0.8 3.6 6.4 10.2 8.3 23.1 18.4 5.5 8

 9 Savings institutions 0.5 -0.2 1.6 1.0 0.9 1.7 3.3 2.9 0.2 0.0 9

10 Credit unions -0.1 -0.0 -0.0 -0.0 -0.0 0.0 -0.1 -0.1 0.1 0.3 10

11 Life insurance companies 1.2 1.2 1.6 1.5 1.4 1.5 2.0 2.6 2.5 2.6 11

12 Other insurance companies 1.5 1.8 2.1 2.5 3.4 3.4 3.6 4.8 4.8 4.6 12

13 Government-sponsored enterprises 0.1 0.2 0.5 -0.2 0.4 1.8 -0.5 0.4 2.2 0.4 13

14 Finance companies -0.2 -3.2 -2.0 0.8 0.6 -0.7 4.8 3.4 4.0 -4.1 14

15 Mortgage companies 0.0 0.0 2.0 -2.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.1 1.4 16

17 Brokers and dealers -0.1 -0.0 -0.1 -0.1 -0.1 -0.0 -0.0 0.8 -0.3 0.2 17

18 Funding corporations 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 18

19 Net change in assets 17.5 7.8 16.0 18.1 18.1 28.9 37.9 71.7 57.1 31.0 19

20 Household sector 1.4 1.3 1.6 1.9 2.2 2.7 2.6 2.9 3.1 2.9 20

21 Nonfinancial corporate business 11.6 3.5 7.3 8.8 10.5 11.8 17.1 32.0 24.4 10.7 21

22 Nonfarm noncorporate business 0.3 0.4 0.4 0.5 0.7 0.7 4.8 5.6 3.8 0.4 22

23 Farm business 0.2 0.2 0.3 0.4 0.4 0.5 0.6 0.7 0.6 0.8 23

24 State and local governments 0.0 0.1 0.0 -0.1 -0.1 -0.0 0.1 -0.1 -0.0 -0.1 24

25 Federal government 0.1 0.4 -0.1 -0.2 0.1 0.3 0.1 0.1 1.0 0.1 25

26 Rest of the world -0.4 -0.2 0.7 0.8 -4.5 -0.7 -2.2 2.6 5.8 8.3 26

27 Monetary authority 0.3 0.2 0.2 0.1 0.2 -0.5 0.1 0.2 0.2 1.8 27

28 Commercial banking 0.6 0.7 0.3 2.3 4.7 5.5 4.8 11.8 10.7 0.5 28

29 Savings institutions 0.3 -0.6 1.8 -0.2 -0.8 2.0 2.3 1.9 -1.5 1.1 29

30 Credit unions -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 -0.1 30

31 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.2 0.3 0.3 0.1 0.5 0.5 31

32 Life insurance companies 0.5 0.2 0.3 0.6 0.9 0.8 0.9 1.0 0.9 1.4 32

33 Other insurance companies 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.5 33

34 Private pension funds 0.7 1.1 1.2 1.0 0.9 1.0 1.2 7.3 3.6 4.6 34

35 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 35

36 Federal government retirement funds 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 36

37 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 37

38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Government-sponsored enterprises 0.1 -0.1 0.0 0.0 0.4 0.8 0.2 -0.3 1.0 -1.8 39

40 Finance companies 0.5 -0.6 0.4 0.6 0.8 1.2 1.7 1.4 1.5 -2.2 40

41 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.1 -0.6 -0.4 41

42 Brokers and dealers 0.1 -0.1 0.3 0.1 -0.2 0.1 0.2 0.2 -0.3 -0.7 42

43 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 Discrepancy -5.6 0.4 -3.9 1.0 7.1 2.4 -3.0 -20.9 -6.9 3.1 44
46 FFA, 1965-1974, Z.1, December 9, 2004

F.230 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world 4.8 4.8 4.4 3.2 4.9 6.8 6.5 5.7 10.1 8.9 1

 2 Equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Reinvested earnings 5.0 5.4 4.8 5.3 6.0 7.6 7.6 7.7 11.4 9.1 3

 4 Intercompany accounts -0.2 -0.6 -0.4 -2.1 -1.0 -0.8 -1.2 -2.0 -1.2 -0.1 4

 5 Asset: Nonfinancial corporate business 4.6 4.6 4.1 2.8 4.5 6.3 5.9 5.0 9.2 7.8 5

 6 Commercial banking 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.4 6

 7 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 7

 8 Other insurance companies 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.5 8

 9 Finance companies 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Brokers and dealers 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 Foreign direct investment in U.S. (1):

11 Liab.: Nonfinancial corporate business 0.5 0.4 0.7 0.8 1.2 1.4 0.3 0.9 2.5 4.6 11

12 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 12

13 Commercial banking -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 13

14 Life insurance companies -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 14

15 Other insurance companies -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 15

16 Finance companies -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 16

17 Brokers and dealers -0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.3 17

18 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Asset: Rest of the world 0.4 0.4 0.7 0.8 1.3 1.5 0.4 0.9 2.8 4.8 19

20 Equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Reinvested earnings 0.4 0.4 0.7 0.8 1.3 1.5 0.4 0.9 2.8 4.8 21

22 Intercompany accounts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 Federal government equity in IBRD, etc.:

23 Liab.: Rest of the world 0.1 0.0 0.1 0.1 0.2 0.2 0.3 0.3 0.3 0.6 23

24 Asset: Federal government 0.1 0.0 0.1 0.1 0.2 0.2 0.3 0.3 0.3 0.6 24

 Federal Reserve Bank stock:

25 Liab.: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 25

26 Asset: Commercial banking 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 26

 Equity in govt.-sponsored enterprises:

27 Liab.: Government-sponsored enterprises 0.1 0.3 0.1 -0.2 0.2 -0.0 0.1 0.2 0.5 0.7 27

28 Asset: Nonfin. corporate business (FNMA) 0.0 0.0 0.0 0.0 0.1 -0.2 0.0 0.0 0.0 0.0 28

29 Nonfarm noncorporate (BC) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Farm business (FICB and FLB) 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2 0.2 30

31 Federal government -0.0 0.1 -0.0 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Commercial banks (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Savings institutions (FHLB) 0.1 0.1 0.0 0.0 0.1 0.1 0.0 0.1 0.4 0.5 33

34 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 BHC investment in subsidiaries:

36 Liab.: Commercial banking 0.0 0.0 0.0 0.0 4.0 6.0 5.0 6.0 4.0 7.0 36

37 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.6 2.4 0.6 -0.3 38

39 Mortgage companies 0.0 0.0 2.0 -2.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 Brokers and dealers 0.0 0.0 -2.0 2.0 0.0 0.0 0.0 0.0 0.8 1.0 40

41 Asset: Bank holding companies 0.0 0.0 0.0 0.0 4.0 6.0 5.6 8.4 5.4 7.7 41

 NFC investment in finance company subs.:

42 Liab.: Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

43 Asset: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 Funding corp. investment in subs.:

44 Liab.: Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

45 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Asset: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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.
FFA, 1965-1974, Z.1, December 9, 2004 47

F.231 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 0.0 0.3 -0.2 -0.1 -0.1 0.0 -0.2 -0.2 0.6 -0.5 1

 2 Asset: Federal government 0.0 0.3 -0.2 -0.1 -0.1 0.0 -0.2 -0.2 0.6 -0.5 2

 Postal Savings System deposits:

 3 Liab.: Federal government -0.1 -0.2 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Asset: Household sector -0.1 -0.2 -0.1 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 -0.2 -0.0 0.4 -0.0 -0.3 1.3 -0.5 -0.2 0.2 0.6 5

 6 Asset: Savings institutions -0.2 -0.0 0.4 -0.0 -0.3 1.3 -0.5 -0.2 0.2 0.6 6

 Deferred and unpaid life insurance premiums:

 7 Liab.: Household sector 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 7

 8 Asset: Life insurance companies 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 8

 Life insurance company reserves:

 9 Liab.: Life insurance companies 0.7 0.9 0.9 1.0 1.1 1.3 1.3 1.5 1.7 1.7 9

10 Health 0.2 0.2 0.3 0.3 0.4 0.6 0.4 0.5 0.6 0.7 10

11 Policy dividend accumulation 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.8 0.9 0.7 11

12 Policy and contract claims 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.3 0.3 0.3 12

13 Asset: Household sector 0.7 0.9 0.9 1.0 1.1 1.3 1.3 1.5 1.7 1.7 13

 Policy payables:

14 Liab.: Other insurance companies 1.5 1.8 2.1 2.5 3.3 3.4 3.6 4.8 4.8 4.9 14

15 Asset: Household sector 0.7 0.7 0.8 0.9 1.2 1.4 1.2 1.4 1.4 1.2 15

16 Nonfinancial corporate business 0.4 0.6 0.7 0.8 1.1 0.9 1.0 1.9 2.0 2.1 16

17 Nonfarm noncorporate business 0.3 0.4 0.4 0.5 0.7 0.7 0.8 1.0 1.0 1.0 17

18 Farm business 0.1 0.2 0.2 0.3 0.4 0.4 0.5 0.6 0.5 0.5 18

 Unallocated insurance company contracts:

19 Liab.: Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Asset: Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Pension fund contributions payable:

21 Liab.: Nonfinancial corporate business 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 21

22 Asset: Private pension funds 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 22

 Securities borrowed (net):

23 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Asset: Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 Nonmarketable government securities:

25 Liab.: Federal government 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 25

26 Asset: Federal government retirement funds 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 26

 Uniformed Services Retiree Health Care Fund:

27 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28
48 FFA, 1965-1974, Z.1, December 9, 2004

F.232 Unidentified Miscellaneous Financial Claims

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 2.7 -1.7 2.1 9.9 8.7 7.9 14.4 25.2 21.2 1.2 1

 2 Nonfinancial corporate business 0.8 0.7 -1.8 4.4 2.9 -6.8 0.2 -0.9 -0.6 1.2 2

 3 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 8.6 2.9 2.7 3.3 5.6 3

 4 Federal government 0.0 -0.1 0.2 0.7 -0.4 0.5 0.8 0.0 -0.4 -0.0 4

 5 Rest of the world -0.4 0.1 0.5 0.5 0.7 -0.6 -0.5 -0.0 -2.2 -0.2 5

 6 Monetary authority -0.3 0.1 0.1 0.3 0.3 0.5 -0.2 -0.0 1.2 -0.2 6

 7 Commercial banking 1.6 0.5 0.8 3.6 2.4 4.2 3.3 17.1 14.3 -1.8 7

 8 U.S.-chartered commercial banks 1.2 0.4 0.8 4.1 -1.8 -0.8 1.0 7.2 1.7 -2.2 8

 9 Foreign banking offices in U.S. 0.3 0.1 -0.0 -0.4 -0.1 -1.8 -1.1 3.9 0.5 -0.6 9

10 Bank holding companies 0.0 0.0 0.0 0.0 4.4 6.9 3.5 6.1 12.2 1.0 10

11 Banks in U.S.-affiliated areas -0.0 -0.0 -0.0 0.0 -0.1 -0.0 -0.0 -0.0 -0.0 0.0 11

12 Savings institutions 0.5 -0.2 1.6 1.0 0.9 1.7 3.3 2.9 0.2 0.0 12

13 Credit unions -0.1 -0.0 -0.0 -0.0 -0.0 0.0 -0.1 -0.1 0.1 0.3 13

14 Life insurance companies 0.4 0.4 0.7 0.5 0.3 0.2 0.6 1.1 0.8 1.1 14

15 Government-sponsored enterprises 0.1 -0.1 0.1 -0.0 0.5 0.5 -0.1 0.4 1.4 -1.0 15

16 Finance companies -0.2 -3.2 -2.0 0.8 0.6 -0.7 4.2 1.1 3.4 -3.8 16

17 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.1 1.4 17

18 Brokers and dealers -0.0 -0.0 2.0 -2.1 -0.1 -0.0 -0.1 0.8 -1.0 -1.1 18

19 Funding corporations 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 19

20 Net change in assets 8.2 -2.1 5.9 8.9 1.6 5.4 17.4 46.1 28.0 -1.9 20

21 Nonfinancial corporate business 6.6 -1.6 2.5 5.1 4.8 4.9 10.2 25.1 13.2 0.8 21

22 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 4.0 4.6 2.8 -0.7 22

23 State and local governments 0.0 0.1 0.0 -0.1 -0.1 -0.0 0.1 -0.1 -0.0 -0.1 23

24 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Rest of the world -0.8 -0.6 0.0 0.0 -5.7 -2.2 -2.6 1.7 3.0 3.6 25

26 Monetary authority 0.3 0.2 0.2 0.1 0.2 -0.5 0.1 0.2 0.2 1.8 26

27 Commercial banking 0.5 0.7 0.2 2.2 0.6 -0.7 -1.0 3.1 5.0 -7.7 27

28 U.S.-chartered commercial banks 0.5 0.4 0.6 1.5 -0.3 -0.6 -0.5 1.5 -1.0 -3.5 28

29 Foreign banking offices in U.S. 0.0 0.1 -0.6 0.5 -0.8 -1.4 0.6 1.0 0.1 -0.6 29

30 Bank holding companies 0.0 0.0 0.0 0.0 0.7 1.0 -1.2 0.5 5.8 -3.3 30

31 Banks in U.S.-affiliated areas 0.0 0.1 0.1 0.1 0.9 0.3 0.1 0.0 0.1 -0.2 31

32 Savings institutions 0.4 -0.7 1.4 -0.1 -0.5 0.6 2.8 2.1 -2.0 -0.1 32

33 Credit unions -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 -0.1 33

34 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.2 0.3 0.3 0.1 0.5 0.5 34

35 Life insurance companies 0.2 -0.1 -0.1 0.2 0.4 0.3 0.6 0.4 0.5 0.6 35

36 Private pension funds 0.6 1.0 1.0 0.8 0.8 0.9 0.8 6.8 3.6 4.6 36

37 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 37

38 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 38

39 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 Government-sponsored enterprises 0.1 -0.1 0.0 0.0 0.4 0.8 0.2 -0.3 1.0 -1.8 40

41 Finance companies 0.4 -0.7 0.4 0.6 0.7 1.1 1.7 1.3 1.4 -2.3 41

42 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.1 -0.6 -0.4 42

43 Brokers and dealers 0.0 -0.2 0.2 0.1 -0.2 0.1 0.2 0.1 -0.3 -0.7 43

44 Discrepancy -5.6 0.4 -3.9 1.0 7.1 2.4 -3.0 -20.9 -6.9 3.1 44
FFA, 1965-1974, Z.1, December 9, 2004 49

F.11 Sector Discrepancies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 All sectors -2.7 -6.6 -5.9 3.9 5.0 4.3 -6.0 -24.6 -8.5 16.5 1

 2 Household sector -10.3 -19.5 -13.6 -8.2 -17.2 -14.6 -11.4 -28.4 -30.2 6.7 2

 3 Nonfinancial corporate business 7.5 11.7 7.2 8.4 6.7 8.9 6.3 -3.1 22.1 0.6 3

 4 State and local governments 1.1 2.7 2.0 2.1 6.7 7.8 7.0 6.3 1.4 8.4 4

 5 Federal government -0.2 -2.0 -0.5 3.2 1.1 -2.3 -1.0 -1.3 0.2 0.7 5

 6 Rest of the world -1.3 -0.2 -1.2 -0.7 -2.9 -2.0 -11.8 -4.1 -4.8 -7.2 6

 7 Financial sectors 0.3 0.9 0.1 -1.0 10.7 6.4 4.9 5.9 2.9 7.4 7

 8 Monetary authority -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.2 -0.0 0.0 -0.0 8

 9 Commercial banking 0.7 0.6 -0.0 0.3 4.4 6.9 5.0 6.0 2.8 5.5 9

10 Savings institutions 0.3 0.4 -0.1 0.0 0.2 0.6 0.2 0.5 0.1 0.4 10

11 Credit unions -0.1 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.1 0.3 11

12 Bank personal trusts and estates 0.0 0.0 0.0 0.0 5.5 0.8 0.8 0.6 0.8 0.9 12

13 Life insurance companies -0.2 0.0 0.0 -0.1 0.6 0.5 0.9 0.3 -0.2 0.4 13

14 Other insurance companies 0.4 0.3 0.7 -0.0 1.0 -0.8 -1.0 -0.6 -0.1 0.5 14

15 Mutual funds -0.1 0.1 0.2 0.1 0.1 -0.1 -0.0 -0.0 -0.3 -0.2 15

16 Government-sponsored enterprises -0.0 -0.0 -0.0 0.0 0.0 -0.2 0.0 0.0 -0.1 -0.2 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 17

18 Finance companies -0.4 -0.5 -0.5 -0.9 -0.9 -0.9 -0.4 -0.3 -0.1 -0.5 18

19 REITs -0.0 -0.0 -0.0 -0.2 -0.2 0.0 -0.0 -0.4 -0.0 0.1 19

20 Brokers and dealers -0.1 -0.0 -0.1 -0.1 -0.1 -0.3 -0.3 -0.2 -0.1 0.2 20

F.12 Instrument Discrepancies

Billions of dollars

 1 All types -2.7 -6.6 -5.9 3.9 5.0 4.3 -6.0 -24.6 -8.5 16.5 1

 2 Treasury currency 0.1 0.2 0.2 0.2 0.2 -0.1 0.0 -0.2 0.0 -0.1 2

 3 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Net interbank transactions 0.2 0.8 0.0 0.6 -0.1 0.6 -1.0 -4.6 0.6 2.5 4

 5 Security RPs -0.6 -2.7 0.5 1.5 -1.2 2.7 0.8 -0.0 0.7 6.8 5

 Mail floats:

 6 Federal government 0.4 -0.0 0.6 1.0 -0.9 -1.0 -0.4 0.6 0.3 -0.1 6

 7 Other 1.4 2.3 -0.4 3.5 0.9 1.4 0.9 4.7 -0.4 0.4 7

 8 Trade credit 2.2 -1.6 0.9 0.4 0.3 5.0 7.2 2.2 3.4 7.6 8

 9 Taxes payable 0.7 0.4 0.5 0.2 1.6 0.5 1.1 2.4 2.2 7.2 9

10 Miscellaneous -5.6 0.4 -3.9 1.0 7.1 2.4 -3.0 -20.9 -6.9 3.1 10

11 Nonfinancial -1.7 -6.3 -4.5 -4.5 -2.9 -7.3 -11.7 -8.8 -8.5 -10.9 11

 Nonfinancial components (sign reversed):

12 Statistical discrepancy (NIPA) 1.7 6.3 4.5 4.6 2.9 7.2 11.4 9.1 8.5 10.9 12

13 Private wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.3 -0.0 0.0 13
50 FFA, 1965-1974, Z.1, December 9, 2004

L.1 Credit Market Debt Outstanding (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total credit market debt owed by: 1106.5 1187.0 1267.7 1372.8 1493.1 1602.3 1753.2 1937.6 2175.4 2412.6 1

 2 Domestic nonfinancial sectors 1007.2 1074.7 1152.7 1242.8 1332.3 1422.5 1557.7 1713.7 1898.2 2073.1 2

 3 Federal government 261.5 265.1 278.1 290.6 287.4 299.5 324.4 339.4 346.3 358.2 3

 4 Nonfederal sectors 745.6 809.6 874.7 952.2 1044.8 1123.0 1233.4 1374.3 1551.9 1714.8 4

 5 Household sector 337.9 360.4 380.7 412.3 444.6 460.2 503.0 559.9 630.6 686.1 5

 6 Nonfinancial corporate business 207.6 232.1 259.1 285.1 317.8 361.3 389.5 427.9 492.6 548.9 6

 7 Nonfarm noncorporate business 64.7 71.5 78.7 87.1 99.6 103.6 122.6 149.0 168.5 198.4 7

 8 Farm business 32.3 35.5 38.8 41.6 44.6 47.6 51.6 56.8 65.4 73.3 8

 9 State and local governments 103.2 110.0 117.4 126.1 138.3 150.3 166.7 180.7 194.8 208.2 9

10 Rest of the world 37.5 39.5 43.3 46.1 49.2 52.1 56.6 61.1 67.4 81.2 10

11 Financial sectors 61.9 72.9 71.6 84.0 111.5 127.8 138.9 162.8 209.8 258.3 11

12 Commercial banking 5.0 5.3 6.3 6.7 11.8 12.7 15.2 17.9 23.1 37.4 12

13 U.S.-chartered commercial banks 4.3 4.6 5.5 5.8 6.4 7.8 9.4 9.7 11.3 19.2 13

14 Foreign banking offices in U.S. 0.7 0.7 0.9 0.9 1.1 1.4 1.6 1.4 1.8 3.7 14

15 Bank holding companies 0.0 0.0 0.0 0.0 4.3 3.4 4.2 6.8 10.0 14.4 15

16 Savings institutions 6.5 7.5 4.8 5.7 9.8 11.0 9.0 9.5 17.1 23.3 16

17 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Government-sponsored enterprises 14.2 19.0 18.4 21.9 30.6 38.9 40.0 43.5 59.8 77.1 19

20 Agency- and GSE-backed mortgage pools 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 20

21 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Finance companies 30.9 35.8 37.8 41.5 48.8 51.3 52.1 58.1 65.6 74.5 22

23 Mortgage companies 4.5 3.9 2.3 4.9 5.7 6.9 8.9 10.6 12.5 10.6 23

24 REITs 0.0 0.0 0.0 0.8 1.5 2.2 4.1 8.8 13.7 14.0 24

25 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Total credit market assets held by: 1106.5 1187.0 1267.7 1372.8 1493.1 1602.3 1753.2 1937.6 2175.4 2412.6 27

28 Domestic nonfederal nonfinancial sectors 234.8 254.3 258.6 275.5 289.9 290.6 285.9 291.8 321.3 374.1 28

29 Household sector 170.2 190.8 196.3 206.7 217.0 216.3 204.0 199.5 220.6 262.3 29

30 Nonfinancial corporate business 33.1 32.1 30.7 33.2 31.9 33.9 42.0 44.6 42.9 47.8 30

31 Nonfarm noncorporate business 4.0 4.0 4.0 4.2 4.5 5.2 6.5 7.7 7.9 7.7 31

32 State and local governments 27.5 27.5 27.6 31.4 36.4 35.1 33.4 40.1 49.8 56.4 32

33 Federal government 37.6 42.7 47.3 52.3 55.4 58.2 60.3 62.2 64.9 72.2 33

34 Rest of the world 17.2 16.5 18.9 19.3 18.8 29.8 56.5 65.1 66.0 71.9 34

35 Financial sectors 816.9 873.4 942.9 1025.7 1129.0 1223.8 1350.5 1518.6 1723.3 1894.4 35

36 Monetary authority 40.6 43.7 49.1 53.0 57.2 62.2 69.6 71.2 80.5 85.3 36

37 Commercial banking 305.1 323.1 359.8 398.7 418.3 455.3 506.5 575.7 662.4 737.5 37

38 U.S.-chartered commercial banks 301.6 319.1 355.0 393.4 407.2 441.6 492.5 558.6 638.6 703.5 38

39 Foreign banking offices in U.S. 2.8 3.3 4.0 4.4 6.0 9.5 9.5 12.6 17.5 26.6 39

40 Bank holding companies 0.0 0.0 0.0 0.0 3.9 3.0 2.8 2.6 4.3 4.9 40

41 Banks in U.S.-affiliated areas 0.6 0.7 0.9 1.0 1.2 1.3 1.6 1.9 2.0 2.5 41

42 Savings institutions 173.5 181.7 195.0 208.9 221.5 236.8 271.7 314.5 348.0 369.7 42

43 Credit unions 8.2 9.4 10.2 11.7 13.8 15.2 17.2 20.1 23.7 26.4 43

44 Bank personal trusts and estates 0.0 0.0 0.0 0.0 30.9 33.6 38.0 41.1 45.5 48.3 44

45 Life insurance companies 137.8 145.9 153.3 160.7 167.6 174.6 182.8 192.5 204.8 217.7 45

46 Other insurance companies 20.6 22.0 23.5 25.4 27.0 30.9 34.6 38.3 41.8 46.4 46

47 Private pension funds 29.1 31.9 32.8 33.8 34.6 36.6 35.0 40.5 46.8 55.6 47

48 State and local govt. retirement funds 31.3 34.9 38.3 41.6 45.5 49.6 52.9 57.4 63.1 69.4 48

49 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 50

51 Mutual funds 3.9 5.1 4.3 4.1 5.1 5.7 5.5 6.0 6.6 7.4 51

52 Closed-end funds 2.1 2.0 2.2 2.6 2.6 1.8 2.4 2.7 3.3 3.0 52

53 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 Government-sponsored enterprises 18.3 23.3 23.3 26.5 35.1 43.9 45.0 49.0 64.4 85.3 54

55 Agency- and GSE-backed mortgage pools 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 55

56 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Finance companies 38.2 41.0 41.2 45.7 53.4 54.6 58.7 66.9 77.0 84.2 57

58 Mortgage companies 4.5 3.9 4.3 4.9 5.7 6.9 8.9 10.6 12.5 10.6 58

59 REITs 0.0 0.0 0.0 0.8 2.0 3.9 6.2 10.4 16.0 16.1 59

60 Brokers and dealers 2.4 3.2 2.9 3.5 3.7 6.0 4.6 6.0 7.5 7.8 60

61 Funding corporations 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 61

(1) Excludes corporate equities and mutual fund shares.
FFA, 1965-1974, Z.1, December 9, 2004 51

L.2 Credit Market Debt Owed by Nonfinancial Sectors

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Domestic 1007.2 1074.7 1152.7 1242.8 1332.3 1422.5 1557.7 1713.7 1898.2 2073.1 1

 2 Federal government 261.5 265.1 278.1 290.6 287.4 299.5 324.4 339.4 346.3 358.2 2

 3 Treasury securities 257.0 259.3 268.2 277.6 276.8 289.9 315.9 330.1 336.7 348.8 3

 4 Budget agency secur. and mortgages 4.5 5.8 9.9 13.0 10.6 9.6 8.5 9.3 9.6 9.4 4

 5 Nonfederal, by instrument 745.6 809.6 874.7 952.2 1044.8 1123.0 1233.4 1374.3 1551.9 1714.8 5

 6 Commercial paper 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 6

 7 Municipal securities and loans 100.4 106.6 113.8 122.1 133.5 145.5 161.7 175.8 192.7 208.0 7

 8 Corporate bonds 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 8

 9 Bank loans n.e.c. 79.5 90.9 101.2 111.2 128.0 132.6 140.1 156.0 194.1 230.5 9

10 Other loans and advances 38.4 43.6 46.4 51.4 62.1 67.9 72.3 79.2 90.3 106.6 10

11 Mortgages 331.8 355.9 379.5 408.8 439.7 469.5 518.2 589.8 666.5 728.7 11

12 Home 218.6 231.9 245.1 262.2 280.5 294.5 320.9 359.9 402.5 438.2 12

13 Multifamily residential 36.4 39.5 43.1 46.5 51.5 58.5 68.4 81.2 91.4 98.4 13

14 Commercial 55.7 61.5 66.2 72.9 78.8 86.1 96.5 113.4 132.7 147.2 14

15 Farm 21.2 23.1 25.0 27.2 29.0 30.5 32.4 35.4 39.8 44.9 15

16 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 16

17 Nonfederal, by sector 745.6 809.6 874.7 952.2 1044.8 1123.0 1233.4 1374.3 1551.9 1714.8 17

18 Household sector 337.9 360.4 380.7 412.3 444.6 460.2 503.0 559.9 630.6 686.1 18

19 Nonfinancial business 304.6 339.1 376.6 413.8 462.0 512.5 563.6 633.7 726.5 820.5 19

20 Corporate 207.6 232.1 259.1 285.1 317.8 361.3 389.5 427.9 492.6 548.9 20

21 Nonfarm noncorporate 64.7 71.5 78.7 87.1 99.6 103.6 122.6 149.0 168.5 198.4 21

22 Farm 32.3 35.5 38.8 41.6 44.6 47.6 51.6 56.8 65.4 73.3 22

23 State and local governments 103.2 110.0 117.4 126.1 138.3 150.3 166.7 180.7 194.8 208.2 23

 Foreign credit market debt

24 held in U.S. 37.5 39.5 43.3 46.1 49.2 52.1 56.6 61.1 67.4 81.2 24

25 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 25

26 Bonds 9.1 9.9 11.1 12.2 13.2 14.1 15.0 16.0 17.0 19.4 26

27 Bank loans n.e.c. 7.1 7.1 6.7 6.3 6.0 5.8 7.3 10.4 13.1 17.8 27

28 Other loans and advances 21.2 22.5 25.6 27.6 30.0 32.2 34.3 34.7 37.3 43.9 28

29 Domestic and foreign 1044.6 1114.2 1196.1 1288.8 1381.5 1474.6 1614.3 1774.9 1965.6 2154.3 29

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 61.9 72.9 71.6 84.0 111.5 127.8 138.9 162.8 209.8 258.3 1

 2 Open market paper 11.9 15.7 18.4 21.4 32.8 33.1 33.8 34.7 41.7 55.1 2

 3 GSE issues 13.8 18.9 18.4 21.6 30.6 38.9 40.0 43.5 59.8 76.4 3

 4 Agency- and GSE-backed mortgage pool sec. 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 4

 5 Corporate bonds 16.7 18.3 19.3 19.9 20.9 23.5 28.2 35.6 41.0 47.9 5

 6 Bank loans n.e.c. 12.2 11.6 9.1 12.8 14.3 16.4 18.6 25.4 32.6 33.3 6

 7 Other loans and advances 6.3 7.0 4.4 5.5 9.3 10.6 7.9 8.0 15.1 22.5 7

 8 Mortgages 0.0 0.0 0.0 0.2 0.4 0.5 0.7 1.2 1.5 1.6 8

 9 By sector 61.9 72.9 71.6 84.0 111.5 127.8 138.9 162.8 209.8 258.3 9

10 Commercial banks 5.0 5.3 6.3 6.7 7.5 9.3 11.0 11.1 13.1 23.0 10

11 Bank holding companies 0.0 0.0 0.0 0.0 4.3 3.4 4.2 6.8 10.0 14.4 11

12 Savings institutions 6.5 7.5 4.8 5.7 9.8 11.0 9.0 9.5 17.1 23.3 12

13 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Government-sponsored enterprises 14.2 19.0 18.4 21.9 30.6 38.9 40.0 43.5 59.8 77.1 15

16 Agency- and GSE-backed mortgage pools 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 16

17 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Finance companies 30.9 35.8 37.8 41.5 48.8 51.3 52.1 58.1 65.6 74.5 19

20 Mortgage companies 4.5 3.9 2.3 4.9 5.7 6.9 8.9 10.6 12.5 10.6 20

21 REITs 0.0 0.0 0.0 0.8 1.5 2.2 4.1 8.8 13.7 14.0 21

22 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22
52 FFA, 1965-1974, Z.1, December 9, 2004

L.4 Credit Market Debt, All Sectors, by Instrument

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total 1106.5 1187.0 1267.7 1372.8 1493.1 1602.3 1753.2 1937.6 2175.4 2412.6 1

 2 Open market paper 12.7 17.3 21.4 25.6 38.1 40.2 40.1 41.7 50.1 67.8 2

 3 Treasury securities 257.0 259.3 268.2 277.6 276.8 289.9 315.9 330.1 336.7 348.8 3

 4 Agency- and GSE-backed securities 17.4 24.2 28.5 35.4 42.9 51.7 56.6 65.9 86.2 106.1 4

 5 Municipal securities 100.4 106.6 113.8 122.1 133.5 145.5 161.7 175.8 192.7 208.0 5

 6 Corporate and foreign bonds 123.1 135.7 152.5 167.1 181.1 204.3 228.8 249.4 264.9 293.9 6

 7 Bank loans n.e.c. 98.8 109.6 117.0 130.4 148.3 154.8 166.0 191.8 239.8 281.5 7

 8 Other loans and advances 66.0 73.2 76.4 84.5 101.4 110.7 114.6 121.9 142.8 173.0 8

 9 Mortgages 333.6 357.7 381.2 410.7 441.7 471.6 520.3 592.3 669.2 731.5 9

10 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 10

 Memo:

 Selected claims not included above:

11 Corporate equities 734.9 660.4 835.1 996.1 840.6 831.2 974.9 1203.3 938.3 632.5 11

12 Mutual fund shares 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 12

L.5 Total Liabilities and Its Relation to Total Financial Assets

Billions of dollars

 Total credit market debt

 1 (from table L.4) 1106.5 1187.0 1267.7 1372.8 1493.1 1602.3 1753.2 1937.6 2175.4 2412.6 1

 2 Official foreign exchange 1.6 1.6 2.8 4.8 5.1 2.6 0.9 0.7 0.6 1.9 2

 3 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 3

 4 Treasury currency 3.1 4.0 4.6 5.1 5.3 5.6 6.0 6.6 7.0 7.3 4

 5 Foreign deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 5

 6 Net interbank liabilities 30.1 35.8 38.0 44.0 51.6 48.5 47.3 45.0 42.6 42.1 6

 7 Checkable deposits and currency 189.1 193.6 208.9 224.0 232.1 244.8 262.9 287.0 304.7 311.7 7

 8 Small time and savings deposits 288.5 306.5 341.2 367.8 382.3 412.9 481.3 551.0 590.4 628.1 8

 9 Large time deposits 31.0 33.3 39.2 45.9 30.9 55.1 68.6 87.4 126.4 167.4 9

10 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 10

11 Security RPs -1.5 -1.5 -2.2 -1.5 4.7 1.1 5.0 6.7 23.1 25.4 11

12 Mutual fund shares 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 12

13 Security credit 18.0 18.7 25.8 32.3 25.7 24.9 28.7 37.4 29.5 25.9 13

14 Life insurance reserves 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 14

15 Pension fund reserves 162.0 172.5 195.6 218.7 230.9 253.8 293.5 349.3 358.5 367.5 15

16 Trade payables 145.6 159.7 172.4 193.3 220.6 234.3 254.8 286.9 349.2 304.3 16

17 Taxes payable 20.1 19.2 14.8 16.0 14.5 12.5 16.6 20.5 25.9 32.8 17

18 Investment in bank personal trusts 0.0 0.0 0.0 0.0 135.2 137.9 163.0 187.1 175.0 147.3 18

19 Miscellaneous 158.5 166.3 178.2 197.1 222.0 240.8 274.1 316.9 359.3 387.5 19

20 Total liabilities 2294.3 2442.9 2647.9 2893.6 3228.3 3455.8 3849.9 4325.5 4769.2 5062.9 20

 + Financial assets not included in

 liabilities:

21 Gold and SDRs 14.1 13.2 12.1 10.9 11.9 11.9 11.4 12.4 13.8 14.0 21

22 Corporate equities 734.9 660.4 835.1 996.1 840.6 831.2 974.9 1203.3 938.3 632.5 22

23 Household equity in noncorp. bus. 472.9 506.4 531.3 576.3 610.6 641.4 707.8 789.1 925.9 1038.3 23

 - Liabilities not identified as assets:

24 Treasury currency -2.4 -2.2 -2.0 -1.7 -1.5 -1.6 -1.6 -1.7 -1.7 -1.9 24

25 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Net interbank transactions 0.6 1.2 1.1 1.9 1.8 2.2 1.7 -2.0 -1.1 1.9 26

27 Security RPs -2.9 -5.6 -5.1 -3.5 -4.4 -1.7 -0.9 -0.9 -0.2 6.6 27

28 Taxes payable 12.9 14.2 9.3 9.5 10.5 10.7 10.3 11.9 14.6 18.9 28

29 Miscellaneous 6.3 6.4 2.0 2.1 3.4 -7.7 -17.1 -43.5 -31.2 -116.8 29

 - Floats not included in assets:

30 Checkable deposits: Federal govt. 0.2 0.2 0.2 1.3 0.1 -0.3 -0.6 -0.2 0.1 -0.2 30

31 Other 14.3 16.6 16.2 19.7 20.6 22.0 22.9 27.6 27.2 27.7 31

32 Trade credit 2.3 0.7 1.6 2.1 2.4 7.4 14.6 16.8 31.9 7.0 32

33 Totals identified to sectors as assets 3484.9 3591.5 4003.0 4445.5 4658.5 4909.3 5514.5 6322.5 6607.6 6804.6 33
FFA, 1965-1974, Z.1, December 9, 2004 53

L.10 Assets and Liabilities of the Personal Sector (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 1520.0 1511.1 1738.4 1960.0 1884.1 1949.5 2182.1 2521.4 2410.9 2281.8 1

 2 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Checkable deposits and currency 105.0 107.4 117.9 127.5 124.2 131.5 145.0 156.7 169.2 174.0 3

 4 Time and savings deposits 286.8 305.5 340.4 370.8 378.3 420.8 486.3 558.7 621.7 677.8 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 5

 6 Securities 778.2 728.3 875.0 1022.9 788.0 769.8 843.9 1000.3 800.4 610.4 6

 7 Open market paper 6.0 8.3 10.1 12.2 14.8 12.5 8.6 3.4 7.5 15.6 7

 8 U.S. savings bonds 49.7 50.2 51.2 51.9 51.8 52.1 54.4 57.7 60.4 63.3 8

 9 Other Treasury securities 25.1 28.8 27.8 30.1 36.9 26.1 15.7 15.6 22.7 25.7 9

10 Agency- and GSE-backed securities 1.1 5.9 6.3 6.1 7.2 11.5 10.6 4.9 3.7 8.3 10

11 Municipal securities 36.5 41.2 38.2 36.5 36.4 35.4 31.9 32.4 39.0 47.1 11

12 Corporate and foreign bonds 9.2 11.9 16.3 21.4 21.3 29.5 36.5 38.4 41.3 52.9 12

13 Corporate equities (2) 616.1 548.3 682.1 815.3 578.1 562.3 638.2 797.4 587.1 369.1 13

14 Mutual fund shares 34.4 33.9 43.0 49.5 41.5 40.4 48.1 50.6 38.7 28.2 14

15 Private life insurance reserves 98.9 103.5 108.3 113.1 118.1 123.3 129.6 136.3 143.5 150.5 15

16 Private insured pension reserves 27.3 29.4 31.9 34.7 37.6 41.0 46.1 52.1 56.1 60.4 16

17 Private noninsured pension reserves 80.9 84.0 98.8 112.4 115.0 125.0 148.0 183.3 182.2 181.2 17

18 Govt. insurance and pension reserves 60.8 66.2 72.1 78.9 85.6 95.2 106.8 121.5 127.9 133.8 18

19 Investment in bank personal trusts 0.0 0.0 0.0 0.0 135.2 137.9 163.0 187.1 175.0 147.3 19

20 Miscellaneous and other assets 82.2 86.8 93.8 99.8 102.1 105.0 113.3 125.2 134.9 144.1 20

21 Total liabilities 460.9 492.9 527.6 571.7 618.0 648.3 722.0 820.9 934.9 1039.0 21

22 Mortgage debt on nonfarm homes 218.6 231.9 245.1 262.2 280.5 293.4 319.3 357.5 399.6 435.6 22

23 Other mortgage debt (3) 79.2 86.5 92.5 104.4 116.1 117.4 135.4 160.6 165.3 191.7 23

24 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 24

25 Policy loans 8.3 9.8 10.8 12.1 14.7 17.0 18.0 19.0 21.2 23.9 25

26 Security credit 5.9 5.8 8.9 11.5 8.2 6.9 9.5 13.1 8.9 7.4 26

27 Other liabilities (3) 51.4 55.5 61.7 62.2 69.3 80.0 90.5 102.0 147.0 178.5 27

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

(2) Directly held and those in closed-end and exchange-traded 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.
54 FFA, 1965-1974, Z.1, December 9, 2004

L.100 Households and Nonprofit Organizations (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 1955.9 1979.4 2230.2 2497.0 2453.4 2547.6 2836.8 3247.3 3259.6 3237.3 1

 2 Deposits 373.3 394.4 439.7 479.4 483.6 531.9 609.1 691.3 760.6 822.2 2

 3 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Checkable deposits and currency 86.5 88.9 99.3 108.7 105.3 112.5 125.8 137.2 145.2 149.9 4

 5 Time and savings deposits 286.8 305.5 340.4 370.8 378.3 419.4 483.3 554.1 615.5 670.0 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 6

 7 Credit market instruments 170.2 190.8 196.3 206.7 217.0 216.3 204.0 199.5 220.6 262.3 7

 8 Open market paper 6.0 8.3 10.1 12.2 14.8 12.5 8.6 3.4 7.5 15.6 8

 9 Treasury securities 74.8 79.1 78.9 81.6 88.2 77.5 69.2 72.2 81.9 87.8 9

10 Savings bonds 49.7 50.2 51.2 51.9 51.8 52.1 54.4 57.7 60.4 63.3 10

11 Other Treasury 25.1 28.8 27.7 29.8 36.4 25.4 14.8 14.5 21.5 24.5 11

12 Agency- and GSE-backed securities 1.1 5.9 6.3 6.1 7.2 11.5 10.6 4.9 3.7 8.3 12

13 Municipal securities 36.5 41.2 38.2 36.5 36.4 35.4 31.9 32.4 39.0 47.1 13

14 Corporate and foreign bonds 9.2 11.9 16.3 21.4 21.3 29.5 36.5 38.4 41.3 52.9 14

15 Mortgages 42.6 44.6 46.5 49.0 49.1 50.0 47.3 48.2 47.2 50.5 15

16 Corporate equities (2) 616.1 548.3 682.1 815.3 578.1 562.3 638.2 797.4 587.1 369.1 16

17 Mutual fund shares 34.4 33.9 43.0 49.5 41.5 40.4 48.1 50.6 38.7 28.2 17

18 Security credit 2.5 2.7 4.9 7.0 5.2 4.4 4.9 5.0 4.9 3.9 18

19 Life insurance reserves 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 19

20 Pension fund reserves 162.0 172.5 195.6 218.7 230.9 253.8 293.5 349.3 358.5 367.5 20

21 Investment in bank personal trusts 0.0 0.0 0.0 0.0 135.2 137.9 163.0 187.1 175.0 147.3 21

22 Equity in noncorporate business 472.9 506.4 531.3 576.3 610.6 641.4 707.8 789.1 925.9 1038.3 22

23 Miscellaneous assets 18.5 19.9 21.7 23.6 25.8 28.5 31.1 34.0 37.1 40.0 23

24 Total liabilities 350.7 373.9 398.1 433.2 463.3 478.7 525.2 587.2 654.8 710.6 24

25 Credit market instruments 337.9 360.4 380.7 412.3 444.6 460.2 503.0 559.9 630.6 686.1 25

26 Home mortgages (3) 218.6 231.9 245.1 262.2 280.5 289.0 313.0 348.0 387.8 425.1 26

27 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 27

28 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.3 28

29 Bank loans n.e.c. 4.4 5.1 7.5 6.2 6.8 6.1 7.3 7.6 11.2 16.8 29

30 Other loans and advances 10.0 11.9 13.3 15.3 18.3 20.9 22.3 23.6 26.2 29.4 30

31 Commercial mortgages 7.5 8.1 6.2 9.2 9.8 10.6 11.2 11.9 11.9 11.6 31

32 Security credit 5.9 5.8 8.9 11.5 8.2 6.9 9.5 13.1 8.9 7.4 32

33 Trade payables 3.6 4.0 4.6 5.2 5.8 6.5 7.3 8.2 8.9 10.1 33

 Deferred and unpaid

34 life insurance premiums 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 34

(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) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual funds (line 17), life insurance and pension reserves (lines 19 and 20), and bank personal trusts (line 21).

(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.
FFA, 1965-1974, Z.1, December 9, 2004 55

L.101 Nonfinancial Business (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 299.4 314.9 334.0 366.9 403.1 426.4 477.8 556.0 647.1 696.3 1

 2 Foreign deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 2

 3 Checkable deposits and currency 51.5 50.9 53.4 56.3 62.0 63.1 61.7 64.4 70.4 71.9 3

 4 Time and savings deposits 9.0 8.6 9.7 9.1 3.7 6.7 12.5 16.5 22.8 28.2 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Security RPs 0.6 0.9 0.7 1.1 3.3 0.2 1.1 2.7 11.3 5.5 6

 7 Credit market instruments 37.1 36.1 34.6 37.3 36.4 39.2 48.5 52.3 50.8 55.5 7

 8 Commercial paper 1.4 2.9 4.0 5.1 7.6 9.4 11.3 14.2 14.9 16.5 8

 9 Treasury securities 12.5 11.1 8.7 9.3 6.1 7.0 10.0 8.0 3.7 3.9 9

10 Agency- and GSE-backed securities 1.2 1.0 1.0 1.4 1.7 1.2 0.9 1.0 2.0 3.0 10

11 Municipal securities 4.6 3.6 3.3 3.8 2.8 2.2 3.2 4.2 4.0 4.7 11

12 Mortgages 0.1 0.1 0.1 0.1 0.5 0.9 2.1 3.2 3.6 4.1 12

13 Consumer credit 17.3 17.4 17.6 17.6 17.6 18.5 21.0 21.6 22.6 23.4 13

14 Mutual fund shares 0.3 0.4 0.6 0.8 0.7 0.6 0.7 0.7 0.8 0.8 14

15 Trade receivables 128.8 141.8 150.6 167.8 191.2 198.0 211.9 239.0 280.4 258.8 15

16 Miscellaneous assets 71.3 75.4 83.3 92.9 104.7 117.8 140.1 178.3 207.3 270.6 16

17 Total liabilities 445.4 488.2 526.5 584.5 655.1 709.2 782.1 883.3 1040.9 1093.0 17

18 Credit market instruments 304.6 339.1 376.6 413.8 462.0 512.5 563.6 633.7 726.5 820.5 18

19 Commercial paper 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 19

20 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 2.4 4.1 20

21 Corporate bonds 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 21

22 Bank loans n.e.c. 75.1 85.8 93.7 105.0 121.2 126.5 132.8 148.4 182.9 213.6 22

23 Other loans and advances 25.7 28.2 29.6 32.1 39.0 42.2 44.9 50.1 59.3 71.6 23

24 Mortgages 105.7 115.9 128.1 137.4 149.4 170.0 194.0 229.9 266.7 292.1 24

25 Trade payables 107.6 115.6 121.5 135.8 156.0 163.2 177.0 201.3 252.8 192.7 25

26 Taxes payable 18.3 17.4 13.2 14.3 12.6 10.0 14.1 18.0 23.3 30.1 26

27 Miscellaneous liabilities 15.0 16.0 15.2 20.6 24.5 23.6 27.3 30.2 38.3 49.7 27

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
56 FFA, 1965-1974, Z.1, December 9, 2004

L.102 Nonfarm Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 262.4 276.8 294.6 327.6 361.9 383.2 424.7 492.9 570.8 615.2 1

 2 Foreign deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 2

 3 Checkable deposits and currency 33.1 32.4 34.8 37.5 43.1 44.1 42.6 44.9 46.3 47.8 3

 4 Time and savings deposits 9.0 8.6 9.7 9.1 3.7 5.3 9.5 11.9 16.6 20.5 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Security RPs 0.6 0.9 0.7 1.1 3.3 0.2 1.1 2.7 11.3 5.5 6

 7 Commercial paper 1.4 2.9 4.0 5.1 7.6 9.4 11.3 14.2 14.9 16.5 7

 8 Treasury securities 12.5 11.1 8.6 9.0 5.6 6.3 9.1 6.9 2.5 2.6 8

 9 Agency- and GSE-backed securities 1.2 1.0 1.0 1.4 1.7 1.2 0.9 1.0 2.0 3.0 9

10 Municipal securities 4.6 3.6 3.3 3.8 2.8 2.2 3.2 4.2 4.0 4.7 10

11 Mortgages 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 11

12 Consumer credit 13.2 13.4 13.7 13.8 13.9 14.7 17.3 18.0 19.2 20.3 12

13 Trade receivables 120.9 133.3 141.6 160.1 183.0 191.4 203.8 230.2 269.3 245.5 13

14 Mutual fund shares 0.3 0.4 0.6 0.8 0.7 0.6 0.7 0.7 0.8 0.8 14

15 Miscellaneous assets 64.7 68.3 75.5 84.2 94.9 106.8 123.8 155.7 180.3 242.4 15

16 U.S. direct investment abroad (1) 53.2 55.9 61.8 67.4 75.4 85.4 96.9 121.4 139.5 159.3 16

17 Insurance receivables 6.8 7.3 8.0 8.8 9.9 10.8 11.9 13.7 15.7 17.8 17

18 Equity in GSEs 0.1 0.1 0.1 0.2 0.2 0.0 0.0 0.0 0.0 0.0 18

19 Investment in finance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Other 4.7 4.9 5.5 7.8 9.3 10.6 15.0 20.6 25.1 65.3 20

21 Total liabilities 335.2 369.2 397.0 446.0 500.4 539.6 585.3 649.5 760.8 764.6 21

22 Credit market instruments 207.6 232.1 259.1 285.1 317.8 361.3 389.5 427.9 492.6 548.9 22

23 Commercial paper 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 23

24 Municipal securities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 2.4 4.1 24

25 Corporate bonds (1) 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 25

26 Bank loans n.e.c. 60.7 69.1 75.6 85.4 98.8 103.6 107.7 120.5 137.0 159.4 26

27 Other loans and advances 14.8 16.3 16.5 18.2 23.5 25.0 26.4 30.4 36.2 44.9 27

28 Savings institutions 0.0 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.2 0.3 28

29 Finance companies 12.2 13.1 12.8 14.8 19.3 19.6 20.8 24.6 29.1 33.4 29

30 Federal government 1.7 2.0 2.2 1.7 1.8 2.1 1.6 1.8 2.1 3.7 30

31 Acceptance liabilities to banks 0.9 1.1 1.3 1.6 2.3 3.1 3.6 3.7 4.7 7.2 31

32 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 32

33 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

34 Mortgages 34.0 37.6 41.8 42.2 43.1 58.8 63.5 71.7 101.7 101.4 34

35 Trade payables 94.6 103.8 109.7 126.2 145.7 153.6 167.2 190.4 228.4 165.2 35

36 Taxes payable 18.3 17.4 13.2 14.3 12.6 10.0 13.1 15.5 19.3 24.5 36

37 Miscellaneous liabilities 14.8 15.8 15.0 20.3 24.3 14.7 15.5 15.7 20.4 26.0 37

38 Foreign direct investment in U.S. 6.7 7.1 7.8 8.6 9.7 11.1 11.5 12.1 17.3 21.8 38

39 Pension fund contributions payable 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 39

40 Other 6.9 7.5 5.7 10.1 12.8 1.7 1.9 0.9 0.4 1.5 40

 Memo:

41 Trade receivables net of payables 26.3 29.5 31.9 33.9 37.3 37.8 36.6 39.8 40.9 80.3 41

42 Market value of equities 623.8 547.9 712.2 843.2 705.1 702.2 823.8 1032.7 809.4 557.6 42

43 Securities and mortgages 131.2 145.0 164.0 177.3 190.1 225.5 249.1 270.1 311.0 332.1 43

44 Loans and short-term paper 76.3 87.1 95.1 107.9 127.7 135.8 140.3 157.8 181.7 216.8 44

45 Total short-term liabilities (3) 189.2 208.3 218.1 248.4 286.0 299.4 320.6 363.7 429.4 406.5 45

46 Total liquid assets (4) 63.5 61.8 63.7 69.4 69.8 70.1 79.5 88.7 101.7 106.2 46

 Analytical measures (percent)

47 Long-term debt/credit market debt 63.2 62.5 63.3 62.2 59.8 62.4 64.0 63.1 63.1 60.5 47

48 Short-term debt/credit market debt 36.8 37.5 36.7 37.8 40.2 37.6 36.0 36.9 36.9 39.5 48

49 Liquid assets/short-term liabilities 33.6 29.6 29.2 27.9 24.4 23.4 24.8 24.4 23.7 26.1 49

(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 10, plus line 14.
FFA, 1965-1974, Z.1, December 9, 2004 57

L.103 Nonfarm Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 28.6 29.4 30.4 29.6 31.1 32.4 41.6 50.7 63.0 67.3 1

 2 Checkable deposits and currency 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 16.9 17.3 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 1.4 3.0 4.6 6.2 7.8 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 4

 5 Treasury securities 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 5

 6 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Mortgages 0.0 0.0 0.0 0.0 0.3 0.7 1.9 3.0 3.3 3.4 7

 8 Consumer credit 4.0 4.0 3.9 3.9 3.7 3.8 3.7 3.6 3.4 3.1 8

 9 Trade receivables 7.9 8.5 9.0 7.7 8.1 6.6 8.1 8.8 11.1 13.3 9

10 Miscellaneous assets 4.1 4.4 4.8 5.3 6.0 6.7 11.5 17.1 20.9 21.3 10

11 Insurance receivables 4.0 4.3 4.7 5.2 5.8 6.5 7.3 8.3 9.2 10.2 11

12 Equity investment in GSEs (1) 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 12

13 Other 0.0 0.0 0.0 0.0 0.0 0.0 4.0 8.6 11.4 10.8 13

14 Total liabilities 71.5 76.7 84.1 91.5 105.1 117.3 139.8 171.1 208.0 247.7 14

15 Credit market instruments 64.7 71.5 78.7 87.1 99.6 103.6 122.6 149.0 168.5 198.4 15

16 Bank loans n.e.c. 6.7 8.1 8.8 9.9 12.1 11.7 12.6 13.7 28.6 36.0 16

17 Other loans and advances 7.4 8.0 8.6 9.2 10.2 11.2 11.8 12.5 14.6 16.6 17

18 Mortgages 50.6 55.3 61.3 68.0 77.3 80.7 98.2 122.8 125.2 145.8 18

19 Trade payables 6.6 5.1 5.2 4.2 5.2 4.8 4.4 5.1 17.7 20.1 19

20 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.5 4.0 5.5 20

21 Miscellaneous liabilities 0.2 0.2 0.2 0.2 0.3 8.9 11.8 14.5 17.9 23.6 21

(1) Equity in the Farm Credit System.

L.104 Farm Business (1)

Billions of dollars

 1 Total financial assets 8.5 8.7 9.1 9.6 10.2 10.8 11.5 12.5 13.3 13.8 1

 2 Checkable deposits and currency 6.0 6.0 6.1 6.3 6.4 6.5 6.7 6.9 7.1 6.9 2

 3 Miscellaneous assets 2.5 2.7 3.0 3.3 3.8 4.3 4.8 5.5 6.2 6.9 3

 4 Insurance receivables 2.2 2.3 2.6 2.8 3.2 3.6 4.1 4.7 5.2 5.8 4

 5 Equity investment in GSEs (2) 0.3 0.4 0.4 0.5 0.6 0.6 0.7 0.8 0.9 1.1 5

 6 Total liabilities 38.7 42.3 45.4 47.0 49.6 52.3 57.0 62.7 72.1 80.7 6

 7 Credit market instruments 32.3 35.5 38.8 41.6 44.6 47.6 51.6 56.8 65.4 73.3 7

 8 Bank loans n.e.c. 7.7 8.6 9.3 9.7 10.3 11.2 12.5 14.3 17.2 18.2 8

 9 Other loans and advances 3.5 3.9 4.5 4.7 5.3 5.9 6.7 7.1 8.4 10.2 9

10 Mortgages 21.2 23.1 25.0 27.2 29.0 30.5 32.4 35.4 39.8 44.9 10

11 Trade payables 6.4 6.8 6.6 5.4 5.0 4.8 5.4 5.9 6.7 7.4 11

(1) Corporate and noncorporate farms.

(2) Equity in the Farm Credit System.
58 FFA, 1965-1974, Z.1, December 9, 2004

L.105 State and Local Governments (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 56.6 60.6 64.0 69.8 75.8 80.1 89.2 106.3 128.5 138.0 1

 2 Checkable deposits and currency 9.8 10.3 11.1 10.4 12.3 11.3 12.1 12.7 12.7 12.9 2

 3 Time and savings deposits 12.2 13.5 15.7 18.9 13.1 23.0 30.2 37.0 43.6 48.5 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 4

 5 Security RPs -0.7 0.8 0.3 -1.3 2.6 -1.4 -0.9 -1.0 0.5 -1.3 5

 6 Credit market instruments 27.5 27.5 27.6 31.4 36.4 35.1 33.4 40.1 49.8 56.4 6

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

 8 Treasury securities 19.5 20.1 19.7 19.9 23.0 22.9 22.6 24.9 26.1 26.5 8

 9 Agency- and GSE-backed securities 3.1 2.4 2.8 6.2 7.5 5.2 3.0 6.3 13.0 16.0 9

10 Municipal securities 2.2 2.1 2.1 2.2 2.2 2.4 2.1 1.8 2.1 2.6 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Mortgages 2.7 2.9 3.0 3.2 3.7 4.6 5.6 7.0 8.7 11.2 12

13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Trade receivables 6.6 7.2 7.8 8.8 10.0 10.6 11.6 13.0 15.8 13.8 15

16 Taxes receivable 0.5 0.5 0.6 0.8 0.8 0.8 2.1 3.9 5.5 7.1 16

17 Miscellaneous assets 0.7 0.8 0.8 0.8 0.7 0.6 0.7 0.6 0.6 0.6 17

18 Total liabilities 129.5 141.0 153.4 167.7 185.5 203.5 226.1 246.1 267.3 290.6 18

19 Credit market instruments 103.2 110.0 117.4 126.1 138.3 150.3 166.7 180.7 194.8 208.2 19

20 Municipal securities 100.4 106.6 113.8 122.1 133.5 145.5 161.6 175.2 189.9 202.6 20

21 Short-term 5.5 6.2 8.0 8.1 10.9 13.3 15.7 15.8 16.1 18.8 21

22 Other 94.9 100.5 105.8 114.0 122.6 132.2 145.8 159.4 173.8 183.8 22

23 U.S. government loans 2.8 3.4 3.6 4.0 4.7 4.8 5.2 5.5 4.9 5.6 23

24 Trade payables 26.4 30.9 36.0 41.6 47.3 53.2 59.3 65.4 72.5 82.4 24

(1) Data for employee retirement funds are shown in table L.120.

L.106 Federal Government

Billions of dollars

 1 Total financial assets 61.3 64.9 72.7 78.6 83.3 85.3 91.1 93.3 97.8 104.3 1

 2 Gold, SDRs, and official foreign exchange 1.4 0.9 1.3 3.3 4.7 3.6 2.2 2.6 2.9 4.3 2

 3 Checkable deposits and currency 6.8 6.4 7.5 5.1 6.9 9.8 13.2 13.3 12.6 8.3 3

 4 Time and savings deposits 0.3 0.2 0.3 0.4 0.2 0.5 0.5 0.6 0.4 0.5 4

 5 Credit market instruments 37.6 42.7 47.3 52.3 55.4 58.2 60.3 62.2 64.9 72.2 5

 6 Agency- and GSE-backed securities 0.0 1.4 1.3 1.4 0.1 0.0 0.0 0.0 0.0 0.0 6

 7 Other loans and advances 31.7 34.5 38.2 41.6 45.1 47.7 50.2 52.7 56.0 59.5 7

 8 Mortgages 5.9 6.9 7.8 9.3 10.2 10.5 10.2 9.5 8.9 12.6 8

 9 Consumer credit (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Trade receivables 3.1 4.4 5.8 6.4 7.3 6.6 4.9 4.0 4.3 5.3 10

11 Taxes receivable 6.8 4.5 4.8 5.7 3.3 0.9 4.1 4.7 5.8 6.8 11

12 Miscellaneous assets 5.4 5.8 5.6 5.4 5.5 5.7 5.8 5.9 6.9 7.0 12

13 Total liabilities 297.0 303.8 319.7 334.2 332.5 346.0 373.3 392.3 403.0 420.5 13

14 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 14

15 Treasury currency 3.1 4.0 4.6 5.1 5.3 5.6 6.0 6.6 7.0 7.3 15

16 Credit market instruments 261.5 265.1 278.1 290.6 287.4 299.5 324.4 339.4 346.3 358.2 16

17 Savings bonds 49.7 50.2 51.2 51.9 51.8 52.1 54.4 57.7 60.4 63.3 17

18 Other Treasury securities 207.3 209.1 217.0 225.7 225.1 237.8 261.5 272.5 276.4 285.5 18

19 Budget agency securities 2.7 4.0 8.2 11.3 9.0 8.1 7.0 7.9 8.4 8.2 19

20 Multifamily residential mortgages 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2 20

21 Trade payables 5.0 5.8 6.5 6.5 6.4 5.4 4.4 4.6 5.7 6.7 21

22 Insurance reserves 7.0 7.1 7.2 7.2 7.3 7.4 7.4 7.6 7.8 7.9 22

23 Miscellaneous liabilities (2) 20.3 21.8 23.3 24.9 26.1 27.9 30.7 33.7 35.8 40.0 23

24 Nonmarketable securities held by pension plans 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 24

25 Other 0.6 0.8 1.0 1.2 0.9 0.3 0.3 0.3 0.3 1.7 25

(1) Student loans.

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

 and disability fund.
FFA, 1965-1974, Z.1, December 9, 2004 59

L.107 Rest of the World

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 61.2 63.0 82.3 92.6 99.4 104.8 133.6 158.7 135.8 183.2 1

 2 Net interbank assets 3.8 6.7 7.3 9.4 16.8 10.5 5.8 6.8 1.6 0.4 2

 3 U.S. checkable deposits and currency 8.5 9.2 9.8 10.6 11.5 12.4 12.7 15.1 18.7 22.6 3

 4 U.S. time deposits 6.1 6.4 7.7 7.4 8.8 7.1 7.5 10.6 13.4 21.1 4

 5 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.5 5

 6 Credit market instruments 17.2 16.5 18.9 19.3 18.8 29.8 56.5 65.1 66.0 71.9 6

 7 Open market paper 2.0 2.2 2.2 2.8 3.8 4.3 4.1 4.1 4.4 4.8 7

 8 Treasury securities 13.1 11.2 13.3 12.7 10.3 19.8 46.3 54.8 55.2 60.1 8

 9 Official 11.4 9.8 12.1 11.3 9.0 18.4 45.0 53.5 54.1 58.3 9

10 Private 1.7 1.3 1.2 1.3 1.3 1.4 1.3 1.3 1.1 1.8 10

11 Agency- and GSE-backed securities 1.3 1.7 2.0 2.4 2.7 3.0 3.1 3.2 3.2 2.8 11

12 Official 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.3 0.9 1.8 12

13 Private 1.3 1.7 2.0 2.3 2.7 3.0 3.0 2.9 2.4 1.0 13

14 U.S. corporate bonds (1) 0.8 1.4 1.3 1.5 2.0 2.7 3.0 3.1 3.1 4.0 14

15 Loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 15

16 U.S. corporate equities 14.6 12.6 25.5 29.5 26.8 27.2 30.8 39.1 33.5 23.9 16

17 Trade receivables 2.1 2.7 3.3 4.8 5.8 7.4 7.2 8.2 10.2 12.4 17

18 Security credit 0.2 0.2 0.3 0.6 0.4 0.3 0.3 0.4 0.3 0.3 18

19 Miscellaneous assets 8.8 8.7 9.6 10.9 10.5 10.0 12.7 13.5 -8.4 30.1 19

20 Foreign direct investment in U.S. (2) 8.8 9.1 9.9 10.8 11.8 13.3 13.9 14.9 20.6 25.1 20

21 Other -0.0 -0.4 -0.4 0.1 -1.3 -3.3 -1.2 -1.4 -28.9 5.0 21

22 Total liabilities 98.8 106.0 115.9 126.0 134.5 140.5 151.5 163.1 180.2 206.6 22

 U.S. official foreign exchange

23 and net IMF position 1.6 1.6 2.8 4.8 5.1 2.6 0.9 0.7 0.6 1.9 23

24 U.S. private deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 24

25 Credit market instruments 37.5 39.5 43.3 46.1 49.2 52.1 56.6 61.1 67.4 81.2 25

26 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 26

27 Bonds 9.1 9.9 11.1 12.2 13.2 14.1 15.0 16.0 17.0 19.4 27

28 Bank loans n.e.c. 7.1 7.1 6.7 6.3 6.0 5.8 7.3 10.4 13.1 17.8 28

29 Official 1.1 1.0 1.0 0.8 0.8 0.6 0.8 1.0 1.4 1.7 29

30 Banks 2.1 2.2 1.8 1.9 2.1 2.0 2.4 3.5 5.1 8.2 30

31 Other 3.9 3.8 3.9 3.6 3.2 3.2 4.1 5.9 6.5 7.8 31

32 U.S. government loans 18.7 20.0 22.5 24.7 26.9 28.2 30.0 31.5 33.2 32.7 32

33 Acceptance liabilities to banks 2.5 2.5 3.0 2.9 3.2 4.0 4.3 3.2 4.2 11.2 33

34 Trade payables 2.6 2.9 3.4 3.8 4.6 5.6 6.1 6.6 8.5 11.5 34

35 Security debt 0.1 0.1 0.3 0.5 0.3 0.3 0.3 0.4 0.2 0.2 35

36 Miscellaneous liabilities 56.3 61.0 65.1 69.2 74.1 79.2 86.4 92.2 100.2 106.8 36

37 U.S. equity in IBRD, etc. 1.3 1.3 1.4 1.5 1.7 1.9 2.2 2.5 2.8 3.4 37

38 U.S. government deposits 3.9 4.2 4.0 3.9 3.8 3.8 3.6 3.5 4.1 3.5 38

39 U.S. direct investment abroad (1,2) 55.2 58.3 64.4 70.3 78.7 89.1 101.2 126.4 145.4 166.4 39

40 Other -4.1 -2.7 -4.6 -6.5 -10.1 -15.7 -20.6 -40.2 -52.1 -66.6 40

 Memo:

41 Market value of foreign equities 5.0 4.3 5.2 6.5 7.0 6.6 7.6 10.5 10.0 9.0 41

 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).
60 FFA, 1965-1974, Z.1, December 9, 2004

L.108 Monetary Authority (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 63.5 68.0 72.8 76.7 80.7 86.1 94.6 97.6 106.9 113.4 1

 2 Gold and foreign exchange 14.3 14.0 13.5 12.4 12.3 10.9 10.1 10.5 11.5 11.6 2

 3 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 3

 4 Treasury currency 5.4 6.2 6.6 6.8 6.8 7.1 7.6 8.3 8.7 9.3 4

 5 Federal Reserve float 2.2 2.5 2.5 3.5 3.4 4.3 4.3 4.0 3.1 2.0 5

 6 Fed. Res. loans to domestic banks 0.1 0.2 0.1 0.2 0.2 0.3 0.0 2.0 1.3 0.3 6

 7 Security RPs 0.4 0.8 0.3 0.0 0.0 0.0 1.5 0.1 0.1 1.4 7

 8 Credit market instruments 40.6 43.7 49.1 53.0 57.2 62.2 69.6 71.2 80.5 85.3 8

 9 Acceptances 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.6 9

10 Treasury securities 40.5 43.7 49.0 52.9 57.2 62.1 69.0 69.8 78.5 80.1 10

11 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.5 1.3 1.9 4.7 11

12 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 12

13 Miscellaneous assets 0.5 0.7 0.7 0.9 0.8 0.9 1.1 1.1 1.4 3.2 13

14 Total liabilities 63.0 67.4 72.2 76.1 80.1 85.4 93.9 96.8 106.0 112.5 14

15 Depository institution reserves 18.4 19.8 21.1 21.9 22.1 24.2 27.8 25.6 27.1 25.8 15

16 Vault cash of commercial banks 4.9 5.5 5.9 7.2 7.3 7.0 7.5 8.6 10.7 11.6 16

17 Checkable deposits and currency 38.8 41.2 44.1 45.6 48.9 52.0 56.5 60.4 65.0 71.9 17

18 Due to federal government 1.4 1.6 2.5 1.4 2.0 1.6 2.5 2.2 2.9 3.3 18

19 Due to rest of the world 0.2 0.4 0.4 0.5 0.4 0.3 0.5 0.4 0.3 0.5 19

20 Currency outside banks 37.2 39.2 41.2 43.8 46.6 50.0 53.5 57.9 61.8 68.1 20

21 Miscellaneous liabilities 0.8 1.0 1.0 1.4 1.8 2.2 2.1 2.1 3.3 3.2 21

22 Federal Reserve Bank stock 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 22

23 Other 0.3 0.4 0.4 0.8 1.1 1.5 1.3 1.3 2.5 2.3 23

(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.
FFA, 1965-1974, Z.1, December 9, 2004 61

L.109 Commercial Banking (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 341.6 363.0 403.3 447.9 471.4 517.2 578.2 663.1 760.8 835.8 1

 2 Vault cash 4.9 5.5 5.9 7.2 7.3 7.0 7.5 8.6 10.7 11.6 2

 3 Reserves at Federal Reserve 18.4 19.8 21.1 21.9 22.1 24.2 27.8 25.6 27.1 25.8 3

 4 Checkable deposits and currency 0.1 0.2 0.2 0.2 0.3 0.4 0.5 0.7 1.0 0.8 4

 5 Total bank credit 311.0 329.4 366.9 407.0 424.5 461.4 512.5 587.5 668.8 733.3 5

 6 Treasury securities 60.2 56.8 63.3 65.3 55.6 62.5 65.6 68.1 59.2 55.1 6

 7 Agency- and GSE-backed securities 5.8 6.1 9.1 10.4 10.1 13.9 17.9 22.0 29.6 33.2 7

 8 Municipal securities 38.8 41.2 50.3 58.9 59.5 70.2 82.8 90.0 95.7 101.1 8

 9 Corporate and foreign bonds 1.3 1.3 2.3 2.5 1.9 3.0 3.9 5.2 5.6 6.6 9

10 Total loans 204.9 224.0 241.9 269.9 297.3 311.6 342.1 402.2 478.6 537.1 10

11 Open market paper 2.0 1.9 2.9 2.9 3.5 4.9 5.4 5.5 5.0 6.4 11

12 Bank loans n.e.c. 98.7 109.6 117.0 130.4 148.3 154.8 166.0 191.8 239.8 281.5 12

13 Mortgages 49.7 54.4 58.9 65.5 70.5 73.3 82.5 99.3 119.1 132.1 13

14 Consumer credit 45.2 48.2 51.7 58.5 63.4 65.6 74.3 87.0 99.6 103.0 14

15 Security credit 9.3 9.9 11.3 12.7 11.5 13.0 13.8 18.6 15.2 14.1 15

16 Corporate equities 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 16

17 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Customers’ liab. on acceptances (2) 3.4 3.6 4.3 4.4 5.5 7.1 7.9 6.9 8.9 18.5 18

19 Miscellaneous assets 3.8 4.5 4.8 7.1 11.7 17.2 22.0 33.7 44.4 45.7 19

20 Total liabilities 317.8 337.6 376.2 419.2 441.3 485.4 548.2 629.7 717.5 791.6 20

21 Net interbank liabilities 6.8 10.6 11.0 15.0 22.2 17.3 11.9 10.7 4.9 4.6 21

22 To monetary authority 2.3 2.7 2.6 3.7 3.6 4.6 4.4 6.0 4.4 2.3 22

23 To domestic banks (3) 0.6 1.2 1.1 1.9 1.8 2.2 1.7 -2.0 -1.1 1.9 23

24 To foreign banks 3.8 6.7 7.3 9.4 16.8 10.5 5.8 6.8 1.6 0.4 24

25 Checkable deposits 150.0 152.1 164.5 178.0 182.8 192.4 205.9 225.9 239.0 238.9 25

26 Federal government 5.5 5.0 5.2 5.0 5.1 7.9 10.2 10.9 9.9 4.8 26

27 Rest of the world 4.4 4.6 4.9 5.4 5.8 6.4 6.0 7.9 10.9 13.5 27

28 Private domestic 140.1 142.5 154.3 167.6 171.9 178.1 189.7 207.2 218.3 220.6 28

29 Small time and savings deposits 116.7 127.8 145.8 159.8 166.4 180.6 209.3 234.0 246.8 265.0 29

30 Large time deposits 31.0 33.3 39.2 45.9 30.9 54.4 67.1 85.0 123.0 162.2 30

31 Federal funds and security RPs (net) 1.7 1.7 1.7 2.6 8.7 4.7 8.7 10.8 27.1 28.5 31

32 Credit market instruments 5.0 5.3 6.3 6.7 11.8 12.7 15.2 17.9 23.1 37.4 32

33 Open market paper 3.4 3.6 4.4 4.5 9.8 9.5 9.9 9.6 13.9 27.0 33

34 Corporate bonds 1.6 1.7 2.0 2.2 2.0 3.2 5.2 8.3 9.2 10.4 34

35 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Taxes payable 0.7 0.7 0.6 0.5 0.6 1.0 0.9 0.7 0.8 0.9 36

37 Miscellaneous liabilities 5.8 6.3 7.1 10.7 17.9 22.4 29.2 44.6 52.9 54.2 37

 Memo:

38 Credit market funds advanced (4) 305.1 323.1 359.8 398.7 418.3 455.3 506.5 575.7 662.4 737.5 38

(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 15) less corporate equities (line 16) less mutual fund shares (line 17) plus customers’ liability on acceptances (line 18).
62 FFA, 1965-1974, Z.1, December 9, 2004

L.110 U.S.-Chartered Commercial Banks

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 336.0 356.4 396.3 439.7 452.5 489.7 545.3 616.3 696.3 757.5 1

 2 Vault cash and reserves at Federal Reserve 23.3 25.2 27.0 29.1 29.4 31.2 35.3 34.3 37.7 37.5 2

 3 Total bank credit 307.4 325.2 362.0 401.7 413.5 448.0 499.1 570.5 646.0 702.3 3

 4 Treasury securities 59.5 56.2 62.5 64.5 54.7 61.7 64.9 66.9 58.2 54.3 4

 5 Agency- and GSE-backed securities 5.8 6.1 9.1 10.4 10.1 13.9 17.9 21.7 29.1 32.6 5

 6 Mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Other 5.8 6.1 9.1 10.4 10.1 13.9 17.9 21.7 29.1 32.6 8

 9 Municipal securities 38.7 41.0 50.0 58.6 59.2 69.6 82.4 89.5 95.1 100.4 9

10 Corporate and foreign bonds 1.1 1.1 1.9 2.1 1.6 2.4 3.6 4.8 5.2 6.2 10

11 Private mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Private CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Other 1.1 1.1 1.9 2.1 1.6 2.4 3.6 4.8 5.2 6.2 13

14 Total loans 202.3 220.8 238.5 266.1 288.0 300.4 330.2 387.5 458.4 508.9 14

15 Open market paper 1.8 1.7 2.7 2.6 3.0 4.1 4.5 4.3 3.5 4.3 15

16 Bank loans n.e.c. 97.5 108.0 115.3 128.3 141.0 146.1 156.9 180.4 222.7 257.5 16

17 Mortgages 49.3 53.9 58.4 65.0 69.8 72.5 81.6 98.4 118.0 130.5 17

18 Consumer credit 45.2 48.2 51.7 58.5 63.4 65.6 74.3 87.0 99.6 103.0 18

19 Security credit 8.5 9.0 10.5 11.8 10.7 12.1 12.9 17.4 14.6 13.6 19

20 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Customers’ liab. on acceptances (1) 2.7 2.9 3.5 3.5 4.4 5.6 6.3 5.5 7.1 14.8 22

23 Miscellaneous assets 2.6 3.1 3.8 5.4 5.2 4.8 4.6 6.0 5.4 2.9 23

24 Total liabilities 312.1 331.0 369.1 410.9 426.4 467.6 526.5 601.2 681.4 745.8 24

25 Net interbank liabilities 4.6 8.0 8.7 12.6 19.3 15.2 8.7 5.4 -0.2 -4.9 25

26 Federal Reserve float 2.2 2.5 2.5 3.5 3.4 4.3 4.3 4.0 3.1 2.0 26

27 Borrowing from Federal Reserve banks 0.1 0.2 0.1 0.2 0.2 0.3 0.0 2.0 1.3 0.3 27

28 To domestic banks 1.1 1.5 2.1 3.2 3.5 4.5 3.3 -1.0 -4.1 -4.5 28

29 To foreign banks 1.1 3.8 3.9 5.7 12.2 6.1 1.0 0.5 -0.4 -2.7 29

30 Checkable deposits 147.0 148.6 160.6 172.7 177.4 182.5 195.5 218.4 230.9 229.5 30

31 Federal government 5.5 5.0 5.2 5.0 5.1 7.9 10.2 10.9 9.9 4.8 31

32 Rest of the world 4.1 4.3 4.6 4.8 5.2 5.7 5.2 6.3 8.6 10.6 32

33 Private domestic 137.4 139.4 150.8 162.9 167.1 168.8 180.1 201.2 212.4 214.1 33

34 Small time and savings deposits 116.7 127.7 145.8 159.7 165.8 179.9 208.5 233.0 245.6 263.7 34

35 Large time deposits 30.5 32.8 38.6 45.2 29.5 52.6 65.0 82.1 119.2 157.4 35

36 Federal funds and security RPs (net) 1.7 1.7 1.7 2.6 8.7 4.7 8.7 10.8 27.1 28.5 36

37 Acceptance liabilities 2.7 2.9 3.5 3.6 4.4 5.7 6.4 5.6 7.2 14.9 37

38 Corporate bonds 1.6 1.7 2.0 2.2 2.0 2.1 3.0 4.1 4.1 4.3 38

39 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 Taxes payable 0.7 0.7 0.6 0.5 0.6 1.0 0.9 0.7 0.8 0.9 40

41 Miscellaneous liabilities 6.5 6.9 7.7 11.8 18.8 23.9 29.9 41.0 46.7 51.5 41

42 Investment by bank holding companies 0.0 0.0 0.0 0.0 4.0 10.0 15.0 21.0 25.0 32.0 42

43 Other 6.5 6.9 7.7 11.8 14.8 13.9 14.9 20.0 21.7 19.5 43

 Memo:

44 Credit market funds advanced (2) 301.6 319.1 355.0 393.4 407.2 441.6 492.5 558.6 638.6 703.5 44

(1) Included in other loans and advances (table L.216).

(2) Total bank credit (line 3) less security credit (line 19) less corporate equities (line 20) less mutual fund shares (line 21) plus customers’ liability on acceptances (line 22).
FFA, 1965-1974, Z.1, December 9, 2004 63

L.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 4.3 4.9 5.1 6.0 6.9 9.0 9.7 14.4 18.8 27.3 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Total bank credit 3.0 3.5 4.0 4.4 5.8 9.0 8.9 12.5 16.4 23.6 3

 4 Treasury securities 0.5 0.5 0.6 0.6 0.6 0.5 0.3 0.5 0.4 0.5 4

 5 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.5 0.6 5

 6 Municipal securities 0.1 0.1 0.2 0.2 0.2 0.4 0.2 0.1 0.2 0.2 6

 7 Corporate and foreign bonds 0.1 0.2 0.3 0.3 0.3 0.6 0.3 0.3 0.3 0.3 7

 8 Total loans 2.2 2.7 2.8 3.3 4.7 7.5 8.1 11.2 14.9 21.8 8

 9 Open market paper 0.2 0.2 0.3 0.3 0.5 0.9 0.9 1.2 1.4 2.1 9

10 Bank loans n.e.c. 1.2 1.6 1.7 2.1 3.3 5.8 6.3 8.8 12.8 19.1 10

11 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 11

12 Security credit 0.8 0.9 0.9 0.9 0.9 0.9 0.9 1.2 0.6 0.5 12

13 Corporate equities 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 13

14 Customers’ liab. on acceptances (2) 0.7 0.7 0.9 0.9 1.1 1.4 1.6 1.4 1.8 3.7 14

15 Miscellaneous assets 0.6 0.8 0.2 0.7 -0.0 -1.4 -0.8 0.5 0.6 -0.0 15

16 Total liabilities 4.4 5.1 5.3 6.2 7.1 9.3 9.9 14.7 19.1 27.6 16

17 Net interbank liabilities 2.2 2.6 2.3 2.4 3.0 2.1 3.2 5.3 7.6 12.2 17

18 To foreign banks 2.7 2.9 3.3 3.7 4.7 4.4 4.8 6.3 4.5 6.5 18

19 To domestic banks -0.5 -0.4 -1.0 -1.3 -1.7 -2.3 -1.6 -1.0 3.0 5.6 19

20 Checkable deposits 1.7 1.8 2.0 3.1 3.1 7.3 7.4 4.2 4.5 5.7 20

21 Small time and savings deposits 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.4 0.5 21

22 Large time deposits 0.4 0.5 0.6 0.7 0.9 1.3 1.5 2.2 3.0 4.0 22

23 Federal funds and security RPs (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Acceptance liabilities 0.7 0.7 0.9 0.9 1.1 1.4 1.6 1.4 1.8 3.7 24

25 Miscellaneous liabilities -0.7 -0.6 -0.6 -1.0 -1.1 -2.9 -4.0 1.3 1.9 1.5 25

26 Foreign direct investment in U.S. 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.6 0.8 26

27 Due to affiliates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Other -1.0 -0.9 -0.9 -1.4 -1.5 -3.3 -4.4 0.8 1.3 0.7 28

 Memo:

29 Credit market funds advanced (3) 2.8 3.3 4.0 4.4 6.0 9.5 9.5 12.6 17.5 26.6 29

(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 12) less corporate equities (line 13) plus customers’ liability on acceptances (line 14).
64 FFA, 1965-1974, Z.1, December 9, 2004

L.112 Bank Holding Companies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 0.0 0.0 0.0 0.0 8.7 14.7 18.9 27.6 40.5 45.8 1

 2 Credit market instruments 0.0 0.0 0.0 0.0 3.9 3.0 2.8 2.6 4.3 4.9 2

 3 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Bank loans n.e.c. 0.0 0.0 0.0 0.0 3.9 3.0 2.8 2.6 4.3 4.9 6

 7 Miscellaneous assets 0.0 0.0 0.0 0.0 4.7 11.8 16.1 25.0 36.2 40.9 7

 8 Investment in bank subsidiaries 0.0 0.0 0.0 0.0 4.0 10.0 15.0 21.0 25.0 32.0 8

 9 Investment in nonbank subsidiaries 0.0 0.0 0.0 0.0 0.0 0.0 0.6 3.0 4.3 5.0 9

10 Other 0.0 0.0 0.0 0.0 0.7 1.8 0.5 1.1 6.9 3.9 10

11 Total liabilities 0.0 0.0 0.0 0.0 4.7 5.0 7.7 9.3 12.0 13.1 11

12 Net interbank liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -2.5 -2.7 12

13 To domestic banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 13

14 To foreign banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -2.5 -3.5 14

15 Federal funds and security RPs (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Credit market instruments 0.0 0.0 0.0 0.0 4.3 3.4 4.2 6.8 10.0 14.4 16

17 Commercial paper 0.0 0.0 0.0 0.0 4.3 2.3 2.0 2.6 4.9 8.3 17

18 Corporate bonds 0.0 0.0 0.0 0.0 0.0 1.1 2.2 4.2 5.1 6.1 18

19 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.4 1.5 3.5 2.5 4.6 1.4 19

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

Billions of dollars

 1 Total financial assets 1.3 1.6 1.9 2.2 3.3 3.8 4.3 4.8 5.2 5.3 1

 2 Checkable deposits and currency 0.1 0.2 0.2 0.2 0.3 0.4 0.5 0.7 1.0 0.8 2

 3 Credit market instruments 0.6 0.7 0.9 1.0 1.2 1.3 1.6 1.9 2.0 2.5 3

 4 Treasury securities 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.6 0.6 0.3 4

 5 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Municipal securities 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.6 6

 7 Corporate and foreign bonds 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 7

 8 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 8

 9 Home mortgages 0.3 0.3 0.4 0.4 0.4 0.6 0.7 0.7 0.7 0.8 9

10 Commercial mortgages 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 10

11 Miscellaneous assets 0.6 0.7 0.8 1.0 1.8 2.1 2.1 2.1 2.2 2.0 11

12 Total liabilities 1.3 1.6 1.8 2.1 3.1 3.6 4.1 4.5 5.0 5.0 12

13 Checkable deposits 1.3 1.6 1.9 2.2 2.3 2.6 3.0 3.3 3.7 3.7 13

14 Small time and savings deposits 0.0 0.0 0.0 0.0 0.5 0.6 0.6 0.7 0.8 0.8 14

15 Large time deposits 0.0 0.0 0.0 0.0 0.5 0.6 0.6 0.7 0.8 0.8 15

16 Miscellaneous liabilities -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.2 -0.3 -0.3 16

(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.
FFA, 1965-1974, Z.1, December 9, 2004 65

L.114 Savings Institutions (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 187.1 193.7 208.9 222.5 234.3 252.6 293.0 340.7 374.2 399.4 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Checkable deposits and currency 3.9 3.3 3.0 2.6 2.3 2.5 2.3 2.8 2.9 3.2 3

 4 Time and savings deposits 0.0 0.1 0.2 0.2 0.2 0.6 2.3 3.4 2.9 3.6 4

 5 Federal funds and security RPs 0.0 0.0 0.0 0.1 0.3 0.4 1.2 1.7 3.7 6.0 5

 6 Credit market instruments 173.5 181.7 195.0 208.9 221.5 236.8 271.7 314.5 348.0 369.7 6

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

 8 Treasury securities 11.6 11.5 12.7 12.7 10.8 9.5 9.2 8.7 7.0 5.9 8

 9 Agency- and GSE-backed securities 2.9 3.0 3.2 3.5 4.7 6.9 10.6 14.1 16.3 17.6 9

10 Mortgage pass-through securities 0.7 0.9 1.1 1.5 1.6 2.3 3.2 4.3 7.7 9.3 10

11 CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Other 2.2 2.1 2.1 2.0 3.0 4.6 7.4 9.8 8.6 8.3 12

13 Municipal securities 0.3 0.3 0.2 0.3 0.3 0.3 0.5 1.0 1.1 1.4 13

14 Corporate and foreign bonds 2.9 3.2 5.2 6.7 7.2 9.9 14.8 17.4 14.4 14.2 14

15 Private mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Private CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Other 2.9 3.2 5.2 6.7 7.2 9.9 14.8 17.4 14.4 14.2 17

18 Other loans and advances 0.1 0.2 0.2 0.2 0.3 0.5 0.7 0.6 0.5 0.5 18

19 Mortgages 152.7 160.5 170.0 181.8 194.0 205.2 231.2 267.5 300.3 321.0 19

20 Consumer credit 3.0 3.2 3.4 3.7 4.2 4.4 4.7 5.1 8.5 9.1 20

21 Corporate equities 2.3 2.0 2.5 2.4 2.5 2.8 3.5 4.5 4.2 3.7 21

22 Miscellaneous assets 7.4 6.6 8.3 8.2 7.4 9.6 12.0 13.8 12.4 13.2 22

23 Total liabilities 175.5 182.3 196.7 210.0 221.4 239.7 278.2 324.7 357.4 383.0 23

24 Deposits 162.8 169.0 184.6 196.1 202.6 218.0 255.6 298.4 323.3 341.7 24

25 Checkable 0.3 0.3 0.3 0.4 0.4 0.4 0.5 0.5 0.7 0.8 25

26 Small time and savings 162.5 168.7 184.3 195.8 202.3 216.9 253.7 295.5 319.1 335.6 26

27 Large time 0.0 0.0 0.0 0.0 0.0 0.7 1.5 2.4 3.5 5.2 27

28 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.3 2.0 28

29 Credit market instruments 6.5 7.5 4.8 5.7 9.8 11.0 9.0 9.5 17.1 23.3 29

30 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Bank loans n.e.c. 0.5 0.5 0.4 0.5 0.5 0.4 1.1 1.5 1.9 1.5 31

32 Other loans and advances 6.0 6.9 4.4 5.3 9.3 10.6 7.9 8.0 15.1 21.8 32

33 Taxes payable 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 33

34 Miscellaneous liabilities 6.2 5.8 7.2 8.0 8.9 10.5 13.4 16.3 16.5 15.8 34

35 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Other 6.2 5.8 7.2 8.0 8.9 10.5 13.4 16.3 16.5 15.8 36

(1) Savings and loan associations, mutual savings banks, and federal savings banks.
66 FFA, 1965-1974, Z.1, December 9, 2004

L.115 Credit Unions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 10.8 11.8 12.9 14.2 15.8 17.7 20.7 24.1 27.2 30.5 1

 2 Checkable deposits and currency 0.5 0.6 0.7 0.7 0.6 0.8 0.9 0.9 0.9 1.0 2

 3 Time and savings deposits 2.3 2.1 2.3 2.1 1.7 2.1 3.0 3.6 3.2 3.8 3

 4 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 8.2 9.4 10.2 11.7 13.8 15.2 17.2 20.1 23.7 26.4 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 0.3 0.3 0.3 0.4 0.5 0.6 0.6 0.5 0.8 0.8 7

 8 Agency- and GSE-backed securities 0.0 0.1 0.2 0.4 0.5 0.8 1.0 1.6 1.8 2.1 8

 9 Home mortgages 0.6 0.6 0.7 0.7 0.7 0.8 0.8 1.0 1.4 1.5 9

10 Consumer credit 7.3 8.3 9.0 10.3 12.0 13.0 14.8 17.0 19.6 21.9 10

11 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Miscellaneous assets -0.2 -0.2 -0.3 -0.3 -0.3 -0.4 -0.4 -0.5 -0.6 -0.6 12

13 Total liabilities 10.0 10.8 11.9 13.0 14.4 16.2 19.0 22.2 25.2 28.5 13

14 Shares/deposits 9.2 10.1 11.1 12.3 13.7 15.5 18.4 21.6 24.5 27.5 14

15 Checkable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 15

16 Small time and savings 9.2 10.0 11.1 12.3 13.7 15.5 18.3 21.6 24.5 27.5 16

17 Large time 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Miscellaneous liabilities 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.6 0.7 1.0 19

L.116 Bank Personal Trusts and Estates (1)

Billions of dollars

 1 Total financial assets 0.0 0.0 0.0 0.0 129.8 131.6 155.9 179.4 166.4 137.8 1

 2 Deposits 0.0 0.0 0.0 0.0 3.5 3.9 5.0 5.8 6.0 6.4 2

 3 Checkable deposits and currency 0.0 0.0 0.0 0.0 1.8 1.8 1.8 1.9 1.9 1.8 3

 4 Time and savings deposits 0.0 0.0 0.0 0.0 1.7 2.1 3.2 3.9 4.1 4.6 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 0.0 0.0 0.0 0.0 30.9 33.6 38.0 41.1 45.5 48.3 6

 7 Open market paper 0.0 0.0 0.0 0.0 3.7 4.1 5.2 5.9 6.6 6.9 7

 8 Treasury securities 0.0 0.0 0.0 0.0 5.0 5.5 5.0 4.9 5.7 6.6 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 4.1 4.5 4.1 4.0 4.6 5.4 9

10 Municipal securities 0.0 0.0 0.0 0.0 10.9 11.8 14.1 15.3 16.1 15.0 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 5.1 5.5 7.2 8.5 9.7 11.2 11

12 Mortgages 0.0 0.0 0.0 0.0 2.2 2.3 2.5 2.6 2.7 3.1 12

13 Corporate equities 0.0 0.0 0.0 0.0 89.3 87.9 105.5 124.0 106.8 75.9 13

14 Mutual fund shares 0.0 0.0 0.0 0.0 4.1 4.1 4.9 5.8 5.0 3.6 14

15 Miscellaneous assets 0.0 0.0 0.0 0.0 1.9 2.2 2.5 2.6 3.1 3.6 15

16 Total liabilities (2) 0.0 0.0 0.0 0.0 135.2 137.9 163.0 187.1 175.0 147.3 16

(1) Personal trusts, estates, and non-managed personal agency accounts at banks, savings institutions, and national nondeposit noninsured trust companies.

(2) Equal to value of tangible and financial assets. These liabilities are assets of the household sector.
FFA, 1965-1974, Z.1, December 9, 2004 67

L.117 Life Insurance Companies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 154.2 162.3 172.6 183.1 191.3 200.9 215.2 232.4 244.8 255.0 1

 2 Checkable deposits and currency 1.5 1.5 1.6 1.7 1.6 1.8 1.8 2.0 2.1 2.0 2

 3 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 137.8 145.9 153.3 160.7 167.6 174.6 182.8 192.5 204.8 217.7 4

 5 Open market paper 0.3 0.4 0.5 0.5 1.4 2.1 2.8 3.0 3.0 4.1 5

 6 Treasury securities 5.1 4.9 4.7 4.5 4.1 4.0 3.8 3.8 3.4 3.4 6

 7 Agency- and GSE-backed securities 0.2 0.2 0.2 0.3 0.4 0.5 0.6 0.7 0.9 1.1 7

 8 Municipal securities 3.5 3.3 3.1 3.2 3.2 3.3 3.4 3.4 3.4 3.7 8

 9 Corporate and foreign bonds 61.0 63.4 67.2 70.9 72.7 74.1 79.6 86.6 92.5 96.4 9

10 Policy loans 7.7 9.1 10.1 11.3 13.8 16.1 17.1 18.0 20.2 22.9 10

11 Mortgages 60.0 64.6 67.5 70.0 72.0 74.4 75.5 76.9 81.4 86.2 11

12 Corporate equities 9.0 8.7 10.7 13.0 13.2 14.6 20.0 26.5 25.4 21.3 12

13 Mutual fund shares 0.1 0.1 0.2 0.2 0.6 0.8 0.6 0.3 0.5 0.6 13

14 Miscellaneous assets 5.7 6.0 6.9 7.5 8.3 9.2 10.1 11.1 12.0 13.4 14

15 Total liabilities 141.9 149.9 159.0 168.1 177.5 187.7 201.0 216.3 230.1 243.9 15

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

17 Life insurance reserves 98.9 103.5 108.3 113.1 118.1 123.3 129.6 136.3 143.5 150.5 17

18 Pension fund reserves (1) 27.3 29.4 31.9 34.7 37.6 41.0 46.1 52.1 56.1 60.4 18

19 Taxes payable 0.5 0.6 0.5 0.6 0.7 0.8 0.8 0.8 0.8 0.8 19

20 Miscellaneous liabilities 15.2 16.4 18.2 19.7 21.1 22.6 24.5 27.1 29.6 32.2 20

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 20).

L.118 Other Insurance Companies

Billions of dollars

 1 Total financial assets 36.8 37.5 41.3 45.3 46.2 50.7 58.5 68.9 71.3 70.1 1

 2 Checkable deposits and currency 1.3 1.3 1.3 1.4 1.3 1.4 1.5 1.5 1.5 1.6 2

 3 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 20.6 22.0 23.5 25.4 27.0 30.9 34.6 38.3 41.8 46.4 4

 5 Treasury securities 5.5 5.0 4.3 3.9 3.4 3.4 3.2 2.9 2.8 2.9 5

 6 Agency- and GSE-backed securities 0.6 1.3 1.2 1.4 1.6 1.6 1.9 2.3 2.3 2.7 6

 7 Municipal securities 11.3 12.0 13.5 14.4 15.5 17.0 20.5 24.8 28.5 30.7 7

 8 Corporate and foreign bonds 3.0 3.6 4.3 5.5 6.3 8.6 8.9 8.1 8.0 10.0 8

 9 Commercial mortgages 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 9

10 Corporate equities 12.0 11.0 13.0 14.6 13.3 13.2 16.6 21.8 19.7 12.8 10

11 Trade receivables 2.6 2.9 3.2 3.5 3.9 4.4 4.7 5.8 6.5 7.0 11

12 Miscellaneous assets 0.3 0.3 0.4 0.5 0.6 0.8 1.0 1.4 1.8 2.3 12

13 Total liabilities 21.9 23.6 25.8 28.2 31.6 35.1 38.7 43.8 48.7 53.3 13

14 Taxes payable 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3 14

15 Miscellaneous liabilities 21.8 23.6 25.7 28.2 31.5 34.9 38.6 43.5 48.4 53.0 15
68 FFA, 1965-1974, Z.1, December 9, 2004

L.119 Private Pension Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 80.2 83.3 98.0 111.4 114.0 123.9 146.6 181.5 179.8 178.0 1

 2 Checkable deposits and currency 0.9 0.8 0.9 1.0 1.0 1.1 1.3 1.8 2.5 3.4 2

 3 Time and savings deposits 2.9 3.4 4.0 4.7 5.4 6.3 7.3 8.5 10.0 12.0 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 4

 5 Security RPs 0.6 0.7 0.9 1.0 1.1 1.2 1.3 2.1 2.5 3.0 5

 6 Credit market instruments 29.1 31.9 32.8 33.8 34.6 36.6 35.0 40.5 46.8 55.6 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 3.1 5.4 7

 8 Treasury securities 2.5 2.3 2.0 2.4 2.2 2.1 2.1 3.4 5.4 8.6 8

 9 Agency- and GSE-backed securities 0.5 0.4 0.3 0.4 0.6 0.9 0.6 2.1 3.2 4.3 9

10 Corporate and foreign bonds 22.7 25.2 26.4 27.0 27.6 29.4 28.6 30.6 32.7 35.0 10

11 Mortgages 3.4 3.9 4.1 4.1 4.2 4.2 3.7 2.7 2.4 2.4 11

12 Corporate equities 40.8 39.5 51.1 61.5 61.4 67.1 88.7 107.8 93.6 74.8 12

13 Mutual fund shares 0.4 0.4 0.5 0.6 0.7 0.8 1.2 1.5 1.7 1.9 13

14 Miscellaneous assets 5.5 6.6 7.8 8.8 9.7 10.7 11.9 19.2 22.8 27.4 14

15 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Contributions receivable 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 16

17 Other 4.3 5.4 6.4 7.2 8.0 8.9 9.7 16.4 20.1 24.7 17

18 Pension fund reserves (liabilities) (3) 80.9 84.0 98.8 112.4 115.0 125.0 148.0 183.3 182.2 181.2 18

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(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

 1 Total financial assets 34.1 38.1 42.6 48.0 53.2 60.3 69.0 80.6 84.7 87.6 1

 2 Checkable deposits and currency 0.3 0.4 0.3 0.4 0.3 0.4 0.5 0.8 0.5 0.3 2

 3 Time and savings deposits 0.0 0.0 0.2 0.2 0.2 0.2 0.1 0.2 0.8 1.5 3

 4 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 31.3 34.9 38.3 41.6 45.5 49.6 52.9 57.4 63.1 69.4 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 7.2 7.1 6.2 5.9 5.4 5.1 3.9 3.6 2.5 1.6 7

 8 Agency- and GSE-backed securities 0.5 0.7 0.8 1.4 1.6 1.5 1.5 2.1 3.3 4.6 8

 9 Municipal securities 2.6 2.5 2.4 2.4 2.3 2.0 2.2 2.0 1.7 1.0 9

10 Corporate and foreign bonds 17.2 20.2 23.9 26.6 30.6 35.1 39.0 43.2 48.4 54.5 10

11 Mortgages 3.7 4.5 5.0 5.4 5.6 5.9 6.3 6.5 7.1 7.7 11

12 Corporate equities 2.5 2.8 3.9 5.8 7.3 10.1 15.4 22.2 20.2 16.4 12

13 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Pension fund reserves (liabilities) (1) 34.1 38.1 42.6 48.0 53.2 60.3 69.0 80.6 84.7 87.7 14

(1) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.

L.121 Federal Government Retirement Funds (1)

Billions of dollars

 1 Total financial assets 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 1

 2 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Miscellaneous assets 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 7

 8 Pension fund reserves (liabilities) (2) 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 8

(1) Includes the Federal Employees Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

(2) Liabilities of the sector are assets of the household sector.
FFA, 1965-1974, Z.1, December 9, 2004 69

L.122 Money Market Mutual Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 1

 2 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.6 4

 5 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 5

 6 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 7

 8 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 12

13 Total shares outstanding (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117).

L.123 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 1

 2 Security RPs 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 2

 3 Credit market instruments 3.9 5.1 4.3 4.1 5.1 5.7 5.5 6.0 6.6 7.4 3

 4 Open market paper 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 4

 5 Treasury securities 0.8 1.4 0.9 1.1 0.7 0.9 0.6 0.7 0.7 1.1 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 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 2.6 2.9 2.6 2.0 2.9 3.5 3.7 4.2 4.3 4.9 8

 9 Corporate equities 30.9 28.9 39.2 46.1 40.9 39.7 48.6 51.7 38.3 26.3 9

10 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Total shares outstanding (liabilities) 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 11

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117).

L.124 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 7.6 7.3 7.5 8.9 8.6 6.1 7.8 8.5 9.9 9.0 1

 2 Credit market instruments 2.1 2.0 2.2 2.6 2.6 1.8 2.4 2.7 3.3 3.0 2

 3 Treasury securities 0.5 0.5 0.5 0.6 0.6 0.5 0.6 0.7 0.8 0.7 3

 4 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 1.5 1.5 1.7 2.0 2.0 1.4 1.8 2.0 2.5 2.3 5

 6 Corporate equities 5.6 5.3 5.4 6.3 6.0 4.3 5.4 5.7 6.6 5.9 6

 7 Total shares outstanding (liabilities) 7.6 7.3 7.5 8.9 8.6 6.1 7.8 8.5 9.9 9.0 7

 Exchange-traded funds

 8 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Total shares outstanding (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13
70 FFA, 1965-1974, Z.1, December 9, 2004

L.125 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 18.9 23.9 23.9 27.1 36.3 46.6 47.3 51.3 70.0 88.2 1

 2 Checkable deposits and currency 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.2 1.0 0.4 0.8 3.0 2.1 4

 5 Credit market instruments 18.3 23.3 23.3 26.5 35.1 43.9 45.0 49.0 64.4 85.3 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.2 1.1 6

 7 Treasury securities 1.8 2.7 2.7 2.6 2.0 3.1 2.5 1.2 1.1 1.4 7

 8 Agency- and GSE-backed securities 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.4 8

 9 Municipal securities 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Other loans and advances 9.6 11.1 9.3 10.5 15.3 17.6 15.6 16.4 24.9 34.2 11

12 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Farm Credit System 3.6 4.2 4.9 5.2 6.0 7.0 7.7 8.4 9.8 12.4 13

14 FHLB 6.0 6.9 4.4 5.3 9.3 10.6 7.9 8.0 15.1 21.8 14

15 Mortgages 6.8 9.4 11.1 13.3 17.7 23.0 26.7 30.7 37.8 48.1 15

16 Home 2.5 4.4 5.5 7.2 10.9 15.5 17.6 19.5 22.8 28.4 16

17 Multifamily residential 0.0 0.0 0.0 0.0 0.0 0.3 1.1 2.1 4.0 6.2 17

18 Farm 4.3 5.0 5.6 6.1 6.7 7.2 7.9 9.1 10.9 13.5 18

19 Consumer credit (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Miscellaneous assets 0.4 0.4 0.4 0.4 0.8 1.5 1.7 1.4 2.3 0.5 20

21 Total liabilities 18.1 23.1 23.0 26.2 35.4 45.4 46.0 49.9 68.4 86.0 21

22 Credit market instruments 14.2 19.0 18.4 21.9 30.6 38.9 40.0 43.5 59.8 77.1 22

23 GSE issues (3) 13.8 18.9 18.4 21.6 30.6 38.9 40.0 43.5 59.8 76.4 23

24 U.S. government loans 0.3 0.1 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.7 24

25 Miscellaneous liabilities 3.9 4.1 4.6 4.4 4.7 6.5 6.0 6.4 8.5 8.9 25

(1) Federal Home Loan Banks, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Agricultural 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 SLM Corporation, a private company chartered in 1997.

(2) SLMA student loans.

(3) Such issues are classified as agency- and GSE-backed securities.

L.126 Agency- and GSE-backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 1

 2 Home mortgages 0.1 0.3 0.7 1.0 1.4 2.5 6.7 10.7 13.6 18.0 2

 3 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.4 0.6 0.8 3

 4 Commercial mortgages 0.1 0.2 0.3 0.4 0.4 0.5 0.6 0.9 1.1 0.0 4

 5 Farm mortgages 0.7 0.9 1.0 1.1 1.4 1.7 2.1 2.4 2.7 2.6 5

 6 Total pool securities (liabilities)(2) 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 6

(1) GNMA, FNMA, FHLMC, FAMC, and Farmers Home Administration pools. Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed

 CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
FFA, 1965-1974, Z.1, December 9, 2004 71

L.127 Issuers of Asset-Backed Securities (ABSs)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Mortgages (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Multifamily residential 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Commercial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Trade receivables 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Total liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 Memo:

 Securitized assets not included above

13 Consumer leases (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 REIT assets (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

(1) Agency- and GSE-backed 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.130.

L.128 Finance Companies (1)

Billions of dollars

 1 Total financial assets 44.4 46.8 47.5 52.7 61.3 63.8 70.0 79.9 91.6 96.9 1

 2 Checkable deposits and currency 2.0 2.1 2.2 2.3 2.4 2.7 2.9 3.2 3.5 3.7 2

 3 Credit market instruments 38.2 41.0 41.2 45.7 53.4 54.6 58.7 66.9 77.0 84.2 3

 4 Other loans and advances 13.5 14.6 14.3 16.5 21.5 21.8 23.2 27.4 32.3 37.2 4

 5 Mortgages 0.0 0.0 0.0 0.0 0.0 0.6 1.1 1.6 2.0 2.5 5

 6 Consumer credit 24.7 26.4 26.9 29.2 32.0 32.1 34.4 38.0 42.6 44.6 6

 7 Miscellaneous assets 4.2 3.7 4.1 4.7 5.5 6.6 8.4 9.7 11.2 9.0 7

 8 Total liabilities 38.8 40.5 40.4 44.9 52.9 54.7 60.4 69.8 81.4 86.2 8

 9 Credit market instruments 30.9 35.8 37.8 41.5 48.8 51.3 52.1 58.1 65.6 74.5 9

10 Open market paper 8.5 12.0 14.1 16.9 23.0 23.6 23.1 21.9 23.8 27.4 10

11 Corporate bonds 15.1 16.6 17.3 17.7 18.8 19.6 22.0 26.0 29.9 35.5 11

12 Bank loans n.e.c. 7.2 7.2 6.4 6.9 7.1 8.1 7.0 10.3 11.9 11.6 12

13 Taxes payable 0.3 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.3 13

14 Miscellaneous liabilities 7.7 4.5 2.4 3.3 3.8 3.2 8.0 11.4 15.5 11.4 14

15 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 15

16 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.6 3.0 3.6 3.3 16

17 Other 7.6 4.4 2.4 3.2 3.8 3.1 7.4 8.4 11.8 8.1 17

 Memo:

18 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

(1) Includes retail captive finance companies.

(2) See footnote (3), table L.127.
72 FFA, 1965-1974, Z.1, December 9, 2004

L.129 Mortgage Companies (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 4.5 3.9 4.3 4.9 5.7 6.9 8.9 10.6 12.5 10.6 1

 2 Home mortgages 3.8 3.3 3.7 4.2 4.9 5.3 5.7 6.2 7.4 6.2 2

 3 Multifamily residential mortgages 0.5 0.4 0.5 0.6 0.7 1.2 2.4 3.2 3.7 2.4 3

 4 Commercial mortgages 0.1 0.1 0.1 0.2 0.2 0.4 0.9 1.1 1.4 1.9 4

 5 Total liabilities 4.5 3.9 4.3 4.9 5.7 6.9 8.9 10.6 12.5 10.6 5

 6 Bank loans n.e.c. 4.5 3.9 2.3 4.9 5.7 6.9 8.9 10.6 12.5 10.6 6

 7 Investment by parent 0.0 0.0 2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

(1) No data are available after 1997:Q4.

L.130 Real Estate Investment Trusts (REITs)

Billions of dollars

 1 Total financial assets 0.0 0.0 0.0 0.8 2.0 3.9 6.4 11.7 16.6 16.4 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 0.0 0.0 0.0 0.8 2.0 3.9 6.2 10.4 16.0 16.1 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Mortgages 0.0 0.0 0.0 0.8 2.0 3.9 6.2 10.4 16.0 16.1 6

 7 Home 0.0 0.0 0.0 0.0 0.2 0.6 0.8 1.2 1.9 1.7 7

 8 Multifamily residential 0.0 0.0 0.0 0.1 0.5 1.3 2.2 4.2 6.6 6.8 8

 9 Commercial 0.0 0.0 0.0 0.7 1.3 2.0 3.2 5.0 7.5 7.7 9

10 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.3 0.7 0.3 10

11 Total liabilities 0.0 0.0 0.0 0.8 1.5 2.2 4.1 9.1 14.1 15.8 11

12 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Credit market instruments 0.0 0.0 0.0 0.8 1.5 2.2 4.1 8.8 13.7 14.0 13

14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.8 3.2 4.0 0.7 14

15 Corporate bonds 0.0 0.0 0.0 0.0 0.1 0.6 1.0 1.4 1.9 2.1 15

16 Bank loans n.e.c. 0.0 0.0 0.0 0.6 1.0 1.0 1.6 3.0 6.3 9.6 16

17 Mortgages 0.0 0.0 0.0 0.2 0.4 0.5 0.7 1.2 1.5 1.6 17

18 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.4 1.9 18

 Memo:

19 Securitized assets included above 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23
FFA, 1965-1974, Z.1, December 9, 2004 73

L.131 Security Brokers and Dealers

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 10.3 11.3 14.7 18.5 15.4 16.2 17.6 22.9 20.3 18.2 1

 2 Checkable deposits and currency 0.7 0.8 1.0 1.5 1.4 1.1 1.1 1.1 0.9 0.8 2

 3 Credit market instruments 2.4 3.2 2.9 3.5 3.7 6.0 4.6 6.0 7.5 7.8 3

 4 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.0 3.0 4

 5 Treasury securities 1.1 1.7 1.0 1.8 1.7 3.4 1.8 2.0 2.0 2.3 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.5 0.5 0.5 0.5 0.4 0.9 1.0 0.9 1.1 0.7 7

 8 Corporate and foreign bonds 0.9 1.0 1.4 1.2 1.6 1.7 1.8 2.0 2.4 1.8 8

 9 Corporate equities 1.2 1.3 1.7 1.5 1.9 2.0 2.1 2.4 2.8 2.2 9

10 Security credit 6.0 6.0 9.2 12.0 8.5 7.2 9.8 13.5 9.1 7.6 10

11 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Total liabilities 10.1 11.0 14.2 17.7 14.6 15.5 16.7 21.7 18.1 15.3 12

13 Security RPs (net) -3.2 -3.2 -3.8 -4.1 -4.0 -3.5 -3.7 -4.5 -4.3 -5.1 13

14 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Trade payables 0.4 0.4 0.5 0.5 0.6 0.6 0.7 0.8 0.8 0.9 15

16 Security credit 12.0 12.8 16.6 20.3 17.2 17.7 19.0 24.0 20.4 18.3 16

17 Customer credit balances (HH) 2.7 2.9 5.3 7.7 5.7 4.7 5.2 5.4 5.2 4.2 17

18 From banks 9.3 9.9 11.3 12.7 11.5 13.0 13.8 18.6 15.2 14.1 18

19 Taxes payable 0.1 0.1 0.2 0.2 0.1 0.2 0.1 0.2 0.2 0.0 19

20 Miscellaneous liabilities 0.9 0.9 0.8 0.8 0.7 0.6 0.6 1.3 1.0 1.2 20

21 Foreign direct investment in U.S. 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.3 0.3 0.5 21

22 Due to affiliates 0.0 0.0 -2.0 0.0 0.0 0.0 0.0 0.0 0.8 1.8 22

23 Other 0.7 0.6 2.6 0.5 0.5 0.4 0.4 1.0 0.0 -1.0 23

L.132 Funding Corporations (1)

Billions of dollars

 1 Total financial assets 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 1

 2 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 3

 4 Open market paper 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Miscellaneous assets (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Investment in foreign banking offices 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Total liabilities 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 9

10 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Miscellaneous liabilities 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 13

14 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Securities loaned (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Other 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 16

(1) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations.

(2) Due from affiliated companies.
74 FFA, 1965-1974, Z.1, December 9, 2004

L.200 Gold and Official Foreign Exchange Holdings (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total U.S. reserves 15.7 14.9 14.8 15.7 17.0 14.5 12.3 13.2 14.4 15.9 1

 2 U.S. gold stock and SDRs 14.1 13.2 12.1 10.9 11.9 11.9 11.4 12.4 13.8 14.0 2

 3 Federal govt.: Exchange Stab. Fund 0.3 0.1 0.1 0.5 1.5 1.2 1.3 2.0 2.3 2.4 3

 4 Monetary authority (2) 13.7 13.2 12.0 10.4 10.4 10.7 10.1 10.4 11.6 11.7 4

 5 U.S. foreign exchange position 1.6 1.6 2.8 4.8 5.1 2.6 0.9 0.7 0.6 1.9 5

 6 Official foreign currency holdings 0.8 1.3 2.3 3.5 2.8 0.6 0.3 0.2 0.0 0.0 6

 7 Treasury 0.2 0.4 0.7 1.5 0.8 0.4 0.3 0.0 0.0 0.0 7

 8 Monetary authority 0.6 0.9 1.6 2.1 2.0 0.3 0.0 0.2 0.0 0.0 8

 9 Net IMF position 0.9 0.3 0.4 1.3 2.3 1.9 0.6 0.5 0.6 1.9 9

10 Federal government 0.9 0.4 0.5 1.3 2.4 2.0 0.7 0.5 0.6 1.9 10

11 Monetary authority -0.0 -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

 SDR certificates:

 1 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 1

 2 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 2

 Treasury currency:

 3 Liab: Federal government 3.1 4.0 4.6 5.1 5.3 5.6 6.0 6.6 7.0 7.3 3

 4 Asset: Monetary authority 5.4 6.2 6.6 6.8 6.8 7.1 7.6 8.3 8.7 9.3 4

 5 Discrepancy (seigniorage) -2.4 -2.2 -2.0 -1.7 -1.5 -1.6 -1.6 -1.7 -1.7 -1.9 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 1

 Held by:

 2 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Nonfinancial corporate business 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 3

 4 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Discrepancy--unallocated assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5
FFA, 1965-1974, Z.1, December 9, 2004 75

L.203 Net Interbank Transactions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 30.1 35.8 38.0 44.0 51.6 48.5 47.3 45.0 42.6 42.1 1

 2 Monetary authority 23.3 25.2 27.0 29.1 29.4 31.2 35.3 34.3 37.7 37.5 2

 3 Depository institution reserves 18.4 19.8 21.1 21.9 22.1 24.2 27.8 25.6 27.1 25.8 3

 4 Vault cash 4.9 5.5 5.9 7.2 7.3 7.0 7.5 8.6 10.7 11.6 4

 5 Commercial banking 6.8 10.6 11.0 15.0 22.2 17.3 11.9 10.7 4.9 4.6 5

 6 To monetary authority 2.3 2.7 2.6 3.7 3.6 4.6 4.4 6.0 4.4 2.3 6

 7 To banks in foreign countries, net 3.8 6.7 7.3 9.4 16.8 10.5 5.8 6.8 1.6 0.4 7

 8 Liabilities, net 4.1 7.0 7.6 9.8 17.3 11.0 6.6 7.8 3.0 2.6 8

 9 U.S.-chartered commercial banks 1.4 4.0 4.2 6.0 12.5 6.5 1.6 1.1 0.2 -1.3 9

10 Due to foreign affiliates 1.4 4.0 4.2 6.0 13.2 7.2 2.3 2.1 1.9 4.5 10

11 - Due from foreign affiliates 0.0 0.0 0.0 0.0 0.7 0.7 0.7 1.0 1.6 5.8 11

12 Foreign banking offices in U.S. 2.8 3.0 3.4 3.7 4.7 4.5 5.0 6.7 5.2 7.5 12

13 Due to foreign affiliates 3.4 3.7 4.3 4.8 6.0 6.3 7.0 9.8 9.5 14.0 13

14 - Due from foreign affiliates 0.7 0.8 0.9 1.1 1.3 1.8 2.0 3.0 4.3 6.5 14

15 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -2.5 -3.5 15

16 Due to foreign affiliates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 - Due from foreign affiliates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 3.5 17

18 Less: Deposits at foreign banks 0.3 0.3 0.4 0.4 0.4 0.6 0.8 1.1 1.4 2.3 18

19 U.S. chartered commercial banks 0.3 0.3 0.3 0.3 0.4 0.5 0.6 0.6 0.7 1.3 19

20 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.4 0.7 0.9 20

21 To U.S. banking, net 0.6 1.2 1.1 1.9 1.8 2.2 1.7 -2.0 -1.1 1.9 21

22 U.S.-chartered commercial banks 1.1 1.5 2.1 3.2 3.5 4.5 3.3 -1.0 -4.1 -4.5 22

23 Liabilities 1.2 1.7 2.3 3.5 4.1 5.6 6.3 5.4 10.6 18.1 23

24 To foreign offices in U.S. 0.6 0.6 1.2 1.6 2.3 3.4 4.6 7.4 11.7 16.2 24

25 To bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Unallocated 0.6 1.2 1.1 1.9 1.8 2.2 1.7 -2.0 -1.1 1.9 26

 Less, due from:

27 Foreign offices in U.S. 0.1 0.2 0.2 0.3 0.6 1.1 3.0 6.4 14.7 21.8 27

28 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 28

29 Foreign banking offices in U.S. -0.5 -0.4 -1.0 -1.3 -1.7 -2.3 -1.6 -1.0 3.0 5.6 29

30 Due to U.S. banks 0.1 0.2 0.2 0.3 0.6 1.1 3.0 6.4 14.7 21.8 30

31 - Due from U.S. banks 0.6 0.6 1.2 1.6 2.3 3.4 4.6 7.4 11.7 16.2 31

32 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 32

33 Due to U.S. banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 33

34 - Due from U.S. banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Total assets 29.5 34.6 36.9 42.1 49.9 46.2 45.6 47.0 43.7 40.1 35

36 Rest of the world 3.8 6.7 7.3 9.4 16.8 10.5 5.8 6.8 1.6 0.4 36

37 Domestic 25.6 27.9 29.6 32.7 33.0 35.8 39.7 40.3 42.1 39.8 37

38 Monetary authority 2.3 2.7 2.6 3.7 3.6 4.6 4.4 6.0 4.4 2.3 38

39 Federal Reserve float 2.2 2.5 2.5 3.5 3.4 4.3 4.3 4.0 3.1 2.0 39

40 Loans to member banks 0.1 0.2 0.1 0.2 0.2 0.3 0.0 2.0 1.3 0.3 40

41 Commercial banking 23.3 25.2 27.0 29.1 29.4 31.2 35.3 34.3 37.7 37.5 41

42 Reserves at Federal Reserve 18.4 19.8 21.1 21.9 22.1 24.2 27.8 25.6 27.1 25.8 42

43 Vault cash 4.9 5.5 5.9 7.2 7.3 7.0 7.5 8.6 10.7 11.6 43

44 Savings insts.: Reserves at Fed. Res. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

45 Discrepancy--floats, etc. 0.6 1.2 1.1 1.9 1.8 2.2 1.7 -2.0 -1.1 1.9 45
76 FFA, 1965-1974, Z.1, December 9, 2004

L.204 Checkable Deposits and Currency

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 189.1 193.6 208.9 224.0 232.1 244.8 262.9 287.0 304.7 311.7 1

 2 Monetary authority 38.8 41.2 44.1 45.6 48.9 52.0 56.5 60.4 65.0 71.9 2

 3 Federal government cash and deposits 1.4 1.6 2.5 1.4 2.0 1.6 2.5 2.2 2.9 3.3 3

 4 Deposits due to foreign 0.2 0.4 0.4 0.5 0.4 0.3 0.5 0.4 0.3 0.5 4

 5 Currency outside banks 37.2 39.2 41.2 43.8 46.6 50.0 53.5 57.9 61.8 68.1 5

 6 Commercial banking 150.0 152.1 164.5 178.0 182.8 192.4 205.9 225.9 239.0 238.9 6

 7 Federal government deposits 5.5 5.0 5.2 5.0 5.1 7.9 10.2 10.9 9.9 4.8 7

 8 Deposits due to foreign 4.4 4.6 4.9 5.4 5.8 6.4 6.0 7.9 10.9 13.5 8

 9 Private domestic deposits 140.1 142.5 154.3 167.6 171.9 178.1 189.7 207.2 218.3 220.6 9

10 Savings institutions 0.3 0.3 0.3 0.4 0.4 0.4 0.5 0.5 0.7 0.8 10

11 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 11

12 Total assets 189.1 193.6 208.9 224.0 232.1 244.8 262.9 287.0 304.7 311.7 12

13 Household sector 86.5 88.9 99.3 108.7 105.3 112.5 125.8 137.2 145.2 149.9 13

14 Nonfinancial business 51.5 50.9 53.4 56.3 62.0 63.1 61.7 64.4 70.4 71.9 14

15 Corporate 33.1 32.4 34.8 37.5 43.1 44.1 42.6 44.9 46.3 47.8 15

16 Nonfarm noncorporate 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 16.9 17.3 16

17 Farm 6.0 6.0 6.1 6.3 6.4 6.5 6.7 6.9 7.1 6.9 17

18 State and local governments 9.8 10.3 11.1 10.4 12.3 11.3 12.1 12.7 12.7 12.9 18

19 Federal government 6.8 6.4 7.5 5.1 6.9 9.8 13.2 13.3 12.6 8.3 19

20 Rest of the world 8.5 9.2 9.8 10.6 11.5 12.4 12.7 15.1 18.7 22.6 20

21 Checkable deposits 4.6 5.0 5.3 5.9 6.2 6.7 6.5 8.3 11.2 14.0 21

22 Currency 3.9 4.3 4.5 4.8 5.3 5.7 6.2 6.8 7.5 8.6 22

23 Financial sectors 11.5 11.1 11.4 11.9 13.4 14.0 14.9 16.9 17.9 18.7 23

24 Commercial banking 0.1 0.2 0.2 0.2 0.3 0.4 0.5 0.7 1.0 0.8 24

25 Savings institutions 3.9 3.3 3.0 2.6 2.3 2.5 2.3 2.8 2.9 3.2 25

26 Credit unions 0.5 0.6 0.7 0.7 0.6 0.8 0.9 0.9 0.9 1.0 26

27 Bank personal trusts and estates 0.0 0.0 0.0 0.0 1.8 1.8 1.8 1.9 1.9 1.8 27

28 Life insurance companies 1.5 1.5 1.6 1.7 1.6 1.8 1.8 2.0 2.1 2.0 28

29 Other insurance companies 1.3 1.3 1.3 1.4 1.3 1.4 1.5 1.5 1.5 1.6 29

30 Private pension funds 0.9 0.8 0.9 1.0 1.0 1.1 1.3 1.8 2.5 3.4 30

31 State and local govt. retirement funds 0.3 0.4 0.3 0.4 0.3 0.4 0.5 0.8 0.5 0.3 31

32 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Government-sponsored enterprises 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 33

34 Finance companies 2.0 2.1 2.2 2.3 2.4 2.7 2.9 3.2 3.5 3.7 34

35 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Brokers and dealers 0.7 0.8 1.0 1.5 1.4 1.1 1.1 1.1 0.9 0.8 36

37 Mail float 14.5 16.8 16.4 21.0 20.7 21.7 22.3 27.4 27.3 27.5 37
FFA, 1965-1974, Z.1, December 9, 2004 77

L.205 Time and Savings Deposits 

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 319.4 339.8 380.4 413.7 413.2 468.1 549.9 638.4 716.8 795.5 1

 2 Small time and savings deposits 288.5 306.5 341.2 367.8 382.3 412.9 481.3 551.0 590.4 628.1 2

 3 Commercial banking 116.7 127.8 145.8 159.8 166.4 180.6 209.3 234.0 246.8 265.0 3

 4 U.S.-chartered commercial banks 116.7 127.7 145.8 159.7 165.8 179.9 208.5 233.0 245.6 263.7 4

 5 Foreign banking offices in U.S. 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.4 0.5 5

 6 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.5 0.6 0.6 0.7 0.8 0.8 6

 7 Savings institutions 162.5 168.7 184.3 195.8 202.3 216.9 253.7 295.5 319.1 335.6 7

 8 Credit unions 9.2 10.0 11.1 12.3 13.7 15.5 18.3 21.6 24.5 27.5 8

 9 Large time deposits (1) 31.0 33.3 39.2 45.9 30.9 55.1 68.6 87.4 126.4 167.4 9

10 Commercial banking 31.0 33.3 39.2 45.9 30.9 54.4 67.1 85.0 123.0 162.2 10

11 U.S.-chartered commercial banks 30.5 32.8 38.6 45.2 29.5 52.6 65.0 82.1 119.2 157.4 11

12 Foreign banking offices in U.S. 0.4 0.5 0.6 0.7 0.9 1.3 1.5 2.2 3.0 4.0 12

13 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.5 0.6 0.6 0.7 0.8 0.8 13

14 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.7 1.5 2.4 3.5 5.2 14

15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Total assets 319.4 339.8 380.4 413.7 413.2 468.1 549.9 638.4 716.8 795.5 16

17 Household sector 286.8 305.5 340.4 370.8 378.3 419.4 483.3 554.1 615.5 670.0 17

18 Nonfinancial business 9.0 8.6 9.7 9.1 3.7 6.7 12.5 16.5 22.8 28.2 18

19 Corporate 9.0 8.6 9.7 9.1 3.7 5.3 9.5 11.9 16.6 20.5 19

20 Nonfarm noncorporate 0.0 0.0 0.0 0.0 0.0 1.4 3.0 4.6 6.2 7.8 20

21 State and local governments 12.2 13.5 15.7 18.9 13.1 23.0 30.2 37.0 43.6 48.5 21

22 Federal government 0.3 0.2 0.3 0.4 0.2 0.5 0.5 0.6 0.4 0.5 22

23 Rest of the world 6.1 6.4 7.7 7.4 8.8 7.1 7.5 10.6 13.4 21.1 23

24 Financial sectors 5.2 5.6 6.6 7.3 9.2 11.3 15.9 19.6 21.1 27.1 24

25 Savings institutions 0.0 0.1 0.2 0.2 0.2 0.6 2.3 3.4 2.9 3.6 25

26 Credit unions 2.3 2.1 2.3 2.1 1.7 2.1 3.0 3.6 3.2 3.8 26

27 Bank personal trusts and estates 0.0 0.0 0.0 0.0 1.7 2.1 3.2 3.9 4.1 4.6 27

28 Private pension funds 2.9 3.4 4.0 4.7 5.4 6.3 7.3 8.5 10.0 12.0 28

29 State and local govt. retirement funds 0.0 0.0 0.2 0.2 0.2 0.2 0.1 0.2 0.8 1.5 29

30 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.6 30

31 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Total assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 1

 2 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 2

 3 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Bank personal trusts and estates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9
78 FFA, 1965-1974, Z.1, December 9, 2004

L.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities -1.5 -1.5 -2.2 -1.5 4.7 1.1 5.0 6.7 23.1 25.4 1

 2 Commercial banking (net) 1.7 1.7 1.7 2.6 8.7 4.7 8.7 10.8 27.1 28.5 2

 3 U.S.-chartered commercial banks 1.7 1.7 1.7 2.6 8.7 4.7 8.7 10.8 27.1 28.5 3

 4 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.3 2.0 6

 7 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Brokers and dealers (net) -3.2 -3.2 -3.8 -4.1 -4.0 -3.5 -3.7 -4.5 -4.3 -5.1 8

 9 Total assets 1.4 4.0 2.9 2.0 9.1 2.8 5.9 7.6 23.3 18.7 9

10 Nonfinancial corporate business 0.6 0.9 0.7 1.1 3.3 0.2 1.1 2.7 11.3 5.5 10

11 State and local governments -0.7 0.8 0.3 -1.3 2.6 -1.4 -0.9 -1.0 0.5 -1.3 11

12 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.5 12

13 Financial sectors 1.5 2.3 2.0 2.1 3.2 4.0 5.6 5.9 11.0 14.0 13

14 Monetary authority 0.4 0.8 0.3 0.0 0.0 0.0 1.5 0.1 0.1 1.4 14

15 Savings institutions 0.0 0.0 0.0 0.1 0.3 0.4 1.2 1.7 3.7 6.0 15

16 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Other insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Private pension funds 0.6 0.7 0.9 1.0 1.1 1.2 1.3 2.1 2.5 3.0 18

19 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 19

20 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 20

21 Mutual funds 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 21

22 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.2 1.0 0.4 0.8 3.0 2.1 22

23 Discrepancy--unallocated assets -2.9 -5.6 -5.1 -3.5 -4.4 -1.7 -0.9 -0.9 -0.2 6.6 23

L.208 Open Market Paper

Billions of dollars

 1 Total outstanding, all types 12.7 17.3 21.4 25.6 38.1 40.2 40.1 41.7 50.1 67.8 1

 2 Commercial paper 9.3 13.6 17.1 21.2 32.6 33.1 32.1 34.7 41.1 49.1 2

 3 Nonfinancial corporate business 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 3

 4 Foreign issues in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 4

 5 Nonfinancial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 5

 6 Financial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Financial business 8.5 12.0 14.1 16.9 27.2 25.9 25.9 27.8 32.7 36.5 7

 8 Commercial banking 0.0 0.0 0.0 0.0 4.3 2.3 2.0 2.6 4.9 8.3 8

 9 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Finance companies 8.5 12.0 14.1 16.9 23.0 23.6 23.1 21.9 23.8 27.4 10

11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.8 3.2 4.0 0.7 11

12 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Bankers acceptances (1) 3.4 3.6 4.4 4.5 5.5 7.1 8.0 7.0 9.0 18.7 13

14 Holdings, by sector 12.7 17.3 21.4 25.6 38.1 40.2 40.1 41.7 50.1 67.8 14

15 Household sector 6.0 8.3 10.1 12.2 14.8 12.5 8.6 3.4 7.5 15.6 15

16 Nonfinancial corporate business 1.4 2.9 4.0 5.1 7.6 9.4 11.3 14.2 14.9 16.5 16

17 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Rest of the world 2.0 2.2 2.2 2.8 3.8 4.3 4.1 4.1 4.4 4.8 18

19 Monetary authority 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.6 19

20 Commercial banking (1) 2.0 1.9 2.9 2.9 3.5 4.9 5.4 5.5 5.0 6.4 20

21 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Bank personal trusts and estates 0.0 0.0 0.0 0.0 3.7 4.1 5.2 5.9 6.6 6.9 23

24 Life insurance companies 0.3 0.4 0.5 0.5 1.4 2.1 2.8 3.0 3.0 4.1 24

25 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 3.1 5.4 25

26 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 26

27 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 27

28 Mutual funds 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 28

29 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.2 1.1 29

30 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.0 3.0 30

31 Funding corporations 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 31

(1) Excludes banks’ holdings of own acceptances.
FFA, 1965-1974, Z.1, December 9, 2004 79

L.209 Treasury Securities

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 257.0 259.3 268.2 277.6 276.8 289.9 315.9 330.1 336.7 348.8 1

 2 Savings bonds 49.7 50.2 51.2 51.9 51.8 52.1 54.4 57.7 60.4 63.3 2

 3 Other Treasury issues 207.3 209.1 217.0 225.7 225.1 237.8 261.5 272.5 276.4 285.5 3

 4 Total assets 257.0 259.3 268.2 277.6 276.8 289.9 315.9 330.1 336.7 348.8 4

 5 Household sector 74.8 79.1 78.9 81.6 88.2 77.5 69.2 72.2 81.9 87.8 5

 6 Savings bonds 49.7 50.2 51.2 51.9 51.8 52.1 54.4 57.7 60.4 63.3 6

 7 Other Treasury issues 25.1 28.8 27.7 29.8 36.4 25.4 14.8 14.5 21.5 24.5 7

 8 Nonfinancial corporate business 12.5 11.1 8.6 9.0 5.6 6.3 9.1 6.9 2.5 2.6 8

 9 Nonfarm noncorporate business 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 9

10 State and local governments 19.5 20.1 19.7 19.9 23.0 22.9 22.6 24.9 26.1 26.5 10

11 Rest of the world 13.1 11.2 13.3 12.7 10.3 19.8 46.3 54.8 55.2 60.1 11

12 Monetary authority 40.5 43.7 49.0 52.9 57.2 62.1 69.0 69.8 78.5 80.1 12

13 Commercial banking 60.2 56.8 63.3 65.3 55.6 62.5 65.6 68.1 59.2 55.1 13

14 U.S.-chartered commercial banks 59.5 56.2 62.5 64.5 54.7 61.7 64.9 66.9 58.2 54.3 14

15 Foreign banking offices in U.S. 0.5 0.5 0.6 0.6 0.6 0.5 0.3 0.5 0.4 0.5 15

16 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Banks in U.S.-affiliated areas 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.6 0.6 0.3 17

18 Savings institutions 11.6 11.5 12.7 12.7 10.8 9.5 9.2 8.7 7.0 5.9 18

19 Credit unions 0.3 0.3 0.3 0.4 0.5 0.6 0.6 0.5 0.8 0.8 19

20 Bank personal trusts and estates 0.0 0.0 0.0 0.0 5.0 5.5 5.0 4.9 5.7 6.6 20

21 Life insurance companies 5.1 4.9 4.7 4.5 4.1 4.0 3.8 3.8 3.4 3.4 21

22 Other insurance companies 5.5 5.0 4.3 3.9 3.4 3.4 3.2 2.9 2.8 2.9 22

23 Private pension funds 2.5 2.3 2.0 2.4 2.2 2.1 2.1 3.4 5.4 8.6 23

24 State and local govt. retirement funds 7.2 7.1 6.2 5.9 5.4 5.1 3.9 3.6 2.5 1.6 24

25 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 26

27 Mutual funds 0.8 1.4 0.9 1.1 0.7 0.9 0.6 0.7 0.7 1.1 27

28 Closed-end funds 0.5 0.5 0.5 0.6 0.6 0.5 0.6 0.7 0.8 0.7 28

29 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Government-sponsored enterprises 1.8 2.7 2.7 2.6 2.0 3.1 2.5 1.2 1.1 1.4 30

31 Brokers and dealers 1.1 1.7 1.0 1.8 1.7 3.4 1.8 2.0 2.0 2.3 31

 Memo:

32 Federal government debt (1) 261.5 265.1 278.1 290.6 287.4 299.5 324.4 339.4 346.3 358.2 32

(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).
80 FFA, 1965-1974, Z.1, December 9, 2004

L.210 Agency- and GSE-backed Securities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 17.4 24.2 28.5 35.4 42.9 51.7 56.6 65.9 86.2 106.1 1

 2 Budget agencies 2.7 4.0 8.2 11.3 9.0 8.1 7.0 7.9 8.4 8.2 2

 3 Government-sponsored enterprises 13.8 18.9 18.4 21.6 30.6 38.9 40.0 43.5 59.8 76.4 3

 4 Agency- and GSE-backed mortgage pools 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 4

 5 Total assets 17.4 24.2 28.5 35.4 42.9 51.7 56.6 65.9 86.2 106.1 5

 6 Household sector 1.1 5.9 6.3 6.1 7.2 11.5 10.6 4.9 3.7 8.3 6

 7 Nonfinancial corporate business 1.2 1.0 1.0 1.4 1.7 1.2 0.9 1.0 2.0 3.0 7

 8 State and local governments 3.1 2.4 2.8 6.2 7.5 5.2 3.0 6.3 13.0 16.0 8

 9 Federal government 0.0 1.4 1.3 1.4 0.1 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 1.3 1.7 2.0 2.4 2.7 3.0 3.1 3.2 3.2 2.8 10

11 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.5 1.3 1.9 4.7 11

12 Commercial banking 5.8 6.1 9.1 10.4 10.1 13.9 17.9 22.0 29.6 33.2 12

13 U.S.-chartered commercial banks 5.8 6.1 9.1 10.4 10.1 13.9 17.9 21.7 29.1 32.6 13

14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.5 0.6 14

15 Bank holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Savings institutions 2.9 3.0 3.2 3.5 4.7 6.9 10.6 14.1 16.3 17.6 17

18 Credit unions 0.0 0.1 0.2 0.4 0.5 0.8 1.0 1.6 1.8 2.1 18

19 Bank personal trusts and estates 0.0 0.0 0.0 0.0 4.1 4.5 4.1 4.0 4.6 5.4 19

20 Life insurance companies 0.2 0.2 0.2 0.3 0.4 0.5 0.6 0.7 0.9 1.1 20

21 Other insurance companies 0.6 1.3 1.2 1.4 1.6 1.6 1.9 2.3 2.3 2.7 21

22 Private pension funds 0.5 0.4 0.3 0.4 0.6 0.9 0.6 2.1 3.2 4.3 22

23 State and local govt. retirement funds 0.5 0.7 0.8 1.4 1.6 1.5 1.5 2.1 3.3 4.6 23

24 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Government-sponsored enterprises 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.4 27

28 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as FNMA and FHLB;

 and agency- and GSE-backed mortgage pool 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 32.
FFA, 1965-1974, Z.1, December 9, 2004 81

L.211 Municipal Securities and Loans

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 100.4 106.6 113.8 122.1 133.5 145.5 161.7 175.8 192.7 208.0 1

 2 State and local governments 100.4 106.6 113.8 122.1 133.5 145.5 161.6 175.2 189.9 202.6 2

 3 Short-term (1) 5.5 6.2 8.0 8.1 10.9 13.3 15.7 15.8 16.1 18.8 3

 4 Long-term 94.9 100.5 105.8 114.0 122.6 132.2 145.8 159.4 173.8 183.8 4

 5 Nonprofit organizations (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.3 5

 6 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 2.4 4.1 6

 (industrial revenue bonds)

 7 Total assets 100.4 106.6 113.8 122.1 133.5 145.5 161.7 175.8 192.7 208.0 7

 8 Household sector 36.5 41.2 38.2 36.5 36.4 35.4 31.9 32.4 39.0 47.1 8

 9 Nonfinancial corporate business 4.6 3.6 3.3 3.8 2.8 2.2 3.2 4.2 4.0 4.7 9

10 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 State and local governments 2.2 2.1 2.1 2.2 2.2 2.4 2.1 1.8 2.1 2.6 11

12 Commercial banking 38.8 41.2 50.3 58.9 59.5 70.2 82.8 90.0 95.7 101.1 12

13 Savings institutions 0.3 0.3 0.2 0.3 0.3 0.3 0.5 1.0 1.1 1.4 13

14 Bank personal trusts and estates 0.0 0.0 0.0 0.0 10.9 11.8 14.1 15.3 16.1 15.0 14

15 Life insurance companies 3.5 3.3 3.1 3.2 3.2 3.3 3.4 3.4 3.4 3.7 15

16 Other insurance companies 11.3 12.0 13.5 14.4 15.5 17.0 20.5 24.8 28.5 30.7 16

17 State and local govt. retirement funds 2.6 2.5 2.4 2.4 2.3 2.0 2.2 2.0 1.7 1.0 17

18 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Closed-end funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Brokers and dealers 0.5 0.5 0.5 0.5 0.4 0.9 1.0 0.9 1.1 0.7 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

 1 Total liabilities 123.1 135.7 152.5 167.1 181.1 204.3 228.8 249.4 264.9 293.9 1

 2 Nonfinancial corporate business 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 2

 3 Rest of the world (1) 9.1 9.9 11.1 12.2 13.2 14.1 15.0 16.0 17.0 19.4 3

 4 Financial sectors 16.7 18.3 19.3 19.9 20.9 23.5 28.2 35.6 41.0 47.9 4

 5 Commercial banking 1.6 1.7 2.0 2.2 2.0 3.2 5.2 8.3 9.2 10.4 5

 6 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Finance companies 15.1 16.6 17.3 17.7 18.8 19.6 22.0 26.0 29.9 35.5 8

 9 REITs 0.0 0.0 0.0 0.0 0.1 0.6 1.0 1.4 1.9 2.1 9

10 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Total assets 123.1 135.7 152.5 167.1 181.1 204.3 228.8 249.4 264.9 293.9 12

13 Household sector 9.2 11.9 16.3 21.4 21.3 29.5 36.5 38.4 41.3 52.9 13

14 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Rest of the world (2) 0.8 1.4 1.3 1.5 2.0 2.7 3.0 3.1 3.1 4.0 15

16 Commercial banking 1.3 1.3 2.3 2.5 1.9 3.0 3.9 5.2 5.6 6.6 16

17 Savings institutions 2.9 3.2 5.2 6.7 7.2 9.9 14.8 17.4 14.4 14.2 17

18 Bank personal trusts and estates 0.0 0.0 0.0 0.0 5.1 5.5 7.2 8.5 9.7 11.2 18

19 Life insurance companies 61.0 63.4 67.2 70.9 72.7 74.1 79.6 86.6 92.5 96.4 19

20 Other insurance companies 3.0 3.6 4.3 5.5 6.3 8.6 8.9 8.1 8.0 10.0 20

21 Private pension funds 22.7 25.2 26.4 27.0 27.6 29.4 28.6 30.6 32.7 35.0 21

22 State and local govt. retirement funds 17.2 20.2 23.9 26.6 30.6 35.1 39.0 43.2 48.4 54.5 22

23 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Mutual funds 2.6 2.9 2.6 2.0 2.9 3.5 3.7 4.2 4.3 4.9 25

26 Closed-end funds 1.5 1.5 1.7 2.0 2.0 1.4 1.8 2.0 2.5 2.3 26

27 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Brokers and dealers 0.9 1.0 1.4 1.2 1.6 1.7 1.8 2.0 2.4 1.8 30

31 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

(1) Holdings of foreign issues by U.S. residents.

(2) Holdings of U.S. issues by foreign residents.
82 FFA, 1965-1974, Z.1, December 9, 2004

L.213 Corporate Equities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Issues at market value 734.9 660.4 835.1 996.1 840.6 831.2 974.9 1203.3 938.3 632.5 1

 2 Nonfinancial corporate business 623.8 547.9 712.2 843.2 705.1 702.2 823.8 1032.7 809.4 557.6 2

 3 Rest of the world (2) 5.0 4.3 5.2 6.5 7.0 6.6 7.6 10.5 10.0 9.0 3

 4 Financial corporations 106.1 108.2 117.6 146.5 128.6 122.5 143.5 160.1 118.9 65.9 4

 5 Holdings at market value 734.9 660.4 835.1 996.1 840.6 831.2 974.9 1203.3 938.3 632.5 5

 6 Household sector 616.1 548.3 682.1 815.3 578.1 562.3 638.2 797.4 587.1 369.1 6

 7 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Rest of the world (3) 14.6 12.6 25.5 29.5 26.8 27.2 30.8 39.1 33.5 23.9 8

 9 Commercial banking 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 9

10 Savings institutions 2.3 2.0 2.5 2.4 2.5 2.8 3.5 4.5 4.2 3.7 10

11 Bank personal trusts and estates 0.0 0.0 0.0 0.0 89.3 87.9 105.5 124.0 106.8 75.9 11

12 Life insurance companies 9.0 8.7 10.7 13.0 13.2 14.6 20.0 26.5 25.4 21.3 12

13 Other insurance companies 12.0 11.0 13.0 14.6 13.3 13.2 16.6 21.8 19.7 12.8 13

14 Private pension funds 40.8 39.5 51.1 61.5 61.4 67.1 88.7 107.8 93.6 74.8 14

15 State and local govt. retirement funds 2.5 2.8 3.9 5.8 7.3 10.1 15.4 22.2 20.2 16.4 15

16 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Mutual funds 30.9 28.9 39.2 46.1 40.9 39.7 48.6 51.7 38.3 26.3 17

18 Closed-end funds 5.6 5.3 5.4 6.3 6.0 4.3 5.4 5.7 6.6 5.9 18

19 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Brokers and dealers 1.2 1.3 1.7 1.5 1.9 2.0 2.1 2.4 2.8 2.2 20

 Memo:

21 Market value of domestic corporations (4) 711.1 638.5 809.8 967.2 812.5 805.2 943.2 1162.8 899.2 602.6 21

(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, 18, 19, and 20; line 1 excludes intercorporate holdings of nonfinancial corporations.

L.214 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 1

 2 Holdings at market value 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 2

 3 Household sector 34.4 33.9 43.0 49.5 41.5 40.4 48.1 50.6 38.7 28.2 3

 4 Nonfinancial corporate business 0.3 0.4 0.6 0.8 0.7 0.6 0.7 0.7 0.8 0.8 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Commercial banking 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Bank personal trusts and estates 0.0 0.0 0.0 0.0 4.1 4.1 4.9 5.8 5.0 3.6 8

 9 Life insurance companies 0.1 0.1 0.2 0.2 0.6 0.8 0.6 0.3 0.5 0.6 9

10 Private pension funds 0.4 0.4 0.5 0.6 0.7 0.8 1.2 1.5 1.7 1.9 10

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
FFA, 1965-1974, Z.1, December 9, 2004 83

L.215 Bank Loans Not Elsewhere Classified

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Total loans by commercial

 1 banking, flow of funds basis 204.9 224.0 241.9 269.9 297.3 311.6 342.1 402.2 478.6 537.1 1

 - Loans elsewhere classified:

 2 Open market paper 2.0 1.9 2.9 2.9 3.5 4.9 5.4 5.5 5.0 6.4 2

 3 Mortgages 49.7 54.4 58.9 65.5 70.5 73.3 82.5 99.3 119.1 132.1 3

 4 Consumer credit 45.2 48.2 51.7 58.5 63.4 65.6 74.3 87.0 99.6 103.0 4

 5 Security credit 9.3 9.9 11.3 12.7 11.5 13.0 13.8 18.6 15.2 14.1 5

 6 = Banking sector total bank loans n.e.c. 98.7 109.6 117.0 130.4 148.3 154.8 166.0 191.8 239.8 281.5 6

 7 U.S.-chartered commercial banks 97.5 108.0 115.3 128.3 141.0 146.1 156.9 180.4 222.7 257.5 7

 8 Foreign banking offices in U.S. 1.2 1.6 1.7 2.1 3.3 5.8 6.3 8.8 12.8 19.1 8

 9 Bank holding companies 0.0 0.0 0.0 0.0 3.9 3.0 2.8 2.6 4.3 4.9 9

10 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 11

12 = Total bank loans n.e.c. 98.8 109.6 117.0 130.4 148.3 154.8 166.0 191.8 239.8 281.5 12

13 Total liabilities 98.8 109.6 117.0 130.4 148.3 154.8 166.0 191.8 239.8 281.5 13

14 Nonfinancial sectors 86.6 98.0 107.9 117.5 134.0 138.4 147.4 166.4 207.2 248.2 14

15 Households 4.4 5.1 7.5 6.2 6.8 6.1 7.3 7.6 11.2 16.8 15

16 Corporate business 60.7 69.1 75.6 85.4 98.8 103.6 107.7 120.5 137.0 159.4 16

17 Nonfarm noncorporate business 6.7 8.1 8.8 9.9 12.1 11.7 12.6 13.7 28.6 36.0 17

18 Farm business 7.7 8.6 9.3 9.7 10.3 11.2 12.5 14.3 17.2 18.2 18

19 Rest of the world 7.1 7.1 6.7 6.3 6.0 5.8 7.3 10.4 13.1 17.8 19

20 Foreign official institutions 1.1 1.0 1.0 0.8 0.8 0.6 0.8 1.0 1.4 1.7 20

21 Foreign banks 2.1 2.2 1.8 1.9 2.1 2.0 2.4 3.5 5.1 8.2 21

22 Other foreign 3.9 3.8 3.9 3.6 3.2 3.2 4.1 5.9 6.5 7.8 22

23 Financial sectors 12.2 11.6 9.1 12.8 14.3 16.4 18.6 25.4 32.6 33.3 23

24 Savings institutions 0.5 0.5 0.4 0.5 0.5 0.4 1.1 1.5 1.9 1.5 24

25 Finance companies 7.2 7.2 6.4 6.9 7.1 8.1 7.0 10.3 11.9 11.6 25

26 Mortgage companies 4.5 3.9 2.3 4.9 5.7 6.9 8.9 10.6 12.5 10.6 26

27 REITs 0.0 0.0 0.0 0.6 1.0 1.0 1.6 3.0 6.3 9.6 27
84 FFA, 1965-1974, Z.1, December 9, 2004

L.216 Other Loans and Advances

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total other loans and advances 66.0 73.2 76.4 84.5 101.4 110.7 114.6 121.9 142.8 173.0 1

 2 U.S. government loans 31.1 33.8 37.5 40.8 44.2 46.7 49.2 51.7 55.0 58.5 2

 3 Liab.: Household sector 1.6 2.1 2.4 3.2 3.6 3.9 4.2 4.6 5.0 5.5 3

 4 Nonfinancial corporate business 1.7 2.0 2.2 1.7 1.8 2.1 1.6 1.8 2.1 3.7 4

 5 Nonfarm noncorporate business 5.0 5.2 5.6 5.9 6.2 6.8 7.1 7.2 8.6 9.1 5

 6 Farm business 0.9 0.9 1.1 1.0 1.0 1.0 1.0 1.1 1.2 1.3 6

 7 State and local governments 2.8 3.4 3.6 4.0 4.7 4.8 5.2 5.5 4.9 5.6 7

 8 Rest of the world 18.7 20.0 22.5 24.7 26.9 28.2 30.0 31.5 33.2 32.7 8

 9 Government-sponsored enterprises 0.3 0.1 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.7 9

10 Foreign loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 10

11 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 11

 Customers’ liability on acceptances

12 outstanding (bank asset) 3.4 3.6 4.3 4.4 5.5 7.1 7.9 6.9 8.9 18.5 12

13 Liab.: Nonfinancial corporate business 0.9 1.1 1.3 1.6 2.3 3.1 3.6 3.7 4.7 7.2 13

14 Rest of the world 2.5 2.5 3.0 2.9 3.2 4.0 4.3 3.2 4.2 11.2 14

15 Savings institution loans to business 0.1 0.2 0.2 0.2 0.3 0.5 0.7 0.6 0.5 0.5 15

16 Liab.: Nonfinancial corporate business 0.0 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.2 0.3 16

17 Nonfarm noncorporate business 0.0 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.2 0.3 17

18 Policy loans (Household liability) 8.3 9.8 10.8 12.1 14.7 17.0 18.0 19.0 21.2 23.9 18

19 Asset: Federal government 0.7 0.7 0.8 0.8 0.9 1.0 1.0 1.0 1.0 1.0 19

20 Life insurance companies 7.7 9.1 10.1 11.3 13.8 16.1 17.1 18.0 20.2 22.9 20

21 Government-sponsored enterprise loans 9.6 11.1 9.3 10.5 15.3 17.6 15.6 16.4 24.9 34.2 21

22 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Noncorporate business (FCS) 1.1 1.3 1.5 1.6 1.7 2.0 2.0 2.3 2.6 3.6 23

24 Farm business (FCS) 2.5 2.9 3.4 3.7 4.3 5.0 5.7 6.1 7.2 8.8 24

25 Commercial banks (FHLB and SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Savings institutions (FHLB and SLMA) 6.0 6.9 4.4 5.3 9.3 10.6 7.9 8.0 15.1 21.8 26

27 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Finance company loans to business 13.5 14.6 14.3 16.5 21.5 21.8 23.2 27.4 32.3 37.2 31

32 Liab.: Nonfinancial corporate business 12.2 13.1 12.8 14.8 19.3 19.6 20.8 24.6 29.1 33.4 32

33 Nonfarm noncorporate business 1.4 1.5 1.4 1.6 2.1 2.2 2.3 2.7 3.2 3.7 33
FFA, 1965-1974, Z.1, December 9, 2004 85

L.217 Total Mortgages

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total mortgages 333.6 357.7 381.2 410.7 441.7 471.6 520.3 592.3 669.2 731.5 1

 2 Home 218.6 231.9 245.1 262.2 280.5 294.5 320.9 359.9 402.5 438.2 2

 3 Multifamily residential 38.2 41.3 44.8 48.3 53.2 60.1 70.1 82.9 93.2 100.0 3

 4 Commercial 55.7 61.5 66.2 73.0 79.1 86.5 97.0 114.2 133.7 148.3 4

 5 Farm 21.2 23.1 25.0 27.2 29.0 30.5 32.4 35.4 39.8 44.9 5

 6 Total liabilities 333.6 357.7 381.2 410.7 441.7 471.6 520.3 592.3 669.2 731.5 6

 7 Household sector 226.0 240.0 251.4 271.4 290.3 299.6 324.2 359.9 399.8 436.7 7

 8 Nonfinancial business 105.7 115.9 128.1 137.4 149.4 170.0 194.0 229.9 266.7 292.1 8

 9 Corporate 34.0 37.6 41.8 42.2 43.1 58.8 63.5 71.7 101.7 101.4 9

10 Nonfarm noncorporate 50.6 55.3 61.3 68.0 77.3 80.7 98.2 122.8 125.2 145.8 10

11 Farm 21.2 23.1 25.0 27.2 29.0 30.5 32.4 35.4 39.8 44.9 11

12 Federal government 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2 12

13 REITs 0.0 0.0 0.0 0.2 0.4 0.5 0.7 1.2 1.5 1.6 13

14 Total assets 333.6 357.7 381.2 410.7 441.7 471.6 520.3 592.3 669.2 731.5 14

15 Household sector 42.6 44.6 46.5 49.0 49.1 50.0 47.3 48.2 47.2 50.5 15

16 Nonfinancial corporate business 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 16

17 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.3 0.7 1.9 3.0 3.3 3.4 17

18 State and local governments 2.7 2.9 3.0 3.2 3.7 4.6 5.6 7.0 8.7 11.2 18

19 Federal government 5.9 6.9 7.8 9.3 10.2 10.5 10.2 9.5 8.9 12.6 19

20 Commercial banking 49.7 54.4 58.9 65.5 70.5 73.3 82.5 99.3 119.1 132.1 20

21 Savings institutions (1) 152.7 160.5 170.0 181.8 194.0 205.2 231.2 267.5 300.3 321.0 21

22 Credit unions 0.6 0.6 0.7 0.7 0.7 0.8 0.8 1.0 1.4 1.5 22

23 Bank personal trusts and estates 0.0 0.0 0.0 0.0 2.2 2.3 2.5 2.6 2.7 3.1 23

24 Life insurance companies 60.0 64.6 67.5 70.0 72.0 74.4 75.5 76.9 81.4 86.2 24

25 Other insurance companies 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 25

26 Private pension funds 3.4 3.9 4.1 4.1 4.2 4.2 3.7 2.7 2.4 2.4 26

27 State and local govt. retirement funds 3.7 4.5 5.0 5.4 5.6 5.9 6.3 6.5 7.1 7.7 27

28 Government-sponsored enterprises (1) 6.8 9.4 11.1 13.3 17.7 23.0 26.7 30.7 37.8 48.1 28

29 Agency- and GSE-backed mortgage pools 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 29

30 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Finance companies 0.0 0.0 0.0 0.0 0.0 0.6 1.1 1.6 2.0 2.5 31

32 Mortgage companies 4.5 3.9 4.3 4.9 5.7 6.9 8.9 10.6 12.5 10.6 32

33 REITs 0.0 0.0 0.0 0.8 2.0 3.9 6.2 10.4 16.0 16.1 33

(1) FHLB loans to savings institutions are included in other loans and advances.
86 FFA, 1965-1974, Z.1, December 9, 2004

L.218 Home Mortgages (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 218.6 231.9 245.1 262.2 280.5 294.5 320.9 359.9 402.5 438.2 1

 2 Household sector 218.6 231.9 245.1 262.2 280.5 289.0 313.0 348.0 387.8 425.1 2

 3 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 1.1 1.6 2.4 2.9 2.6 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 4.4 6.3 9.5 11.7 10.5 4

 5 Total assets 218.6 231.9 245.1 262.2 280.5 294.5 320.9 359.9 402.5 438.2 5

 6 Household sector 16.7 18.1 19.5 21.6 21.7 21.0 20.7 19.8 19.6 22.6 6

 7 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.9 1.0 0.9 8

 9 State and local governments 1.7 1.7 1.7 1.8 1.8 1.9 2.0 2.1 2.6 3.4 9

10 Federal government 3.9 4.5 5.3 6.2 6.4 6.2 5.6 5.0 4.2 5.6 10

11 Commercial banking 30.4 32.8 35.3 38.8 41.4 42.3 48.0 57.0 68.0 74.8 11

12 Savings institutions 125.8 131.8 138.8 147.3 156.7 164.0 180.1 206.4 231.2 247.0 12

13 Credit unions 0.6 0.6 0.7 0.7 0.7 0.8 0.8 1.0 1.4 1.5 13

14 Bank personal trusts and estates 0.0 0.0 0.0 0.0 2.2 2.3 2.5 2.6 2.7 3.1 14

15 Life insurance companies 29.6 30.2 29.8 29.0 27.6 26.7 24.6 22.3 20.4 19.0 15

16 Private pension funds 1.5 1.7 1.8 1.8 1.8 1.8 1.5 1.1 0.8 0.8 16

17 State and local govt. retirement funds 2.0 2.3 2.6 2.7 2.8 2.9 3.0 3.0 3.2 3.2 17

18 Government-sponsored enterprises 2.5 4.4 5.5 7.2 10.9 15.5 17.6 19.5 22.8 28.4 18

19 Agency- and GSE-backed mortgage pools 0.1 0.3 0.7 1.0 1.4 2.5 6.7 10.7 13.6 18.0 19

20 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Finance companies 0.0 0.0 0.0 0.0 0.0 0.4 0.8 1.1 1.5 1.8 21

22 Mortgage companies 3.8 3.3 3.7 4.2 4.9 5.3 5.7 6.2 7.4 6.2 22

23 REITs 0.0 0.0 0.0 0.0 0.2 0.6 0.8 1.2 1.9 1.7 23

 Memo:

24 Home equity loans included above (2) ND ND ND ND ND ND ND ND ND ND 24

25 Commercial banking ND ND ND ND ND ND ND ND ND ND 25

26 Savings institutions ND ND ND ND ND ND ND ND ND ND 26

27 Credit unions ND ND ND ND ND ND ND ND ND ND 27

28 ABS issuers ND ND ND ND ND ND ND ND ND ND 28

29 Finance companies ND ND ND ND ND ND ND ND ND ND 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. Loans of finance companies (line 29) include some first liens.

 Excludes home equity loans held by mortgage companies and individuals.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 38.2 41.3 44.8 48.3 53.2 60.1 70.1 82.9 93.2 100.0 1

 2 Nonfinancial corporate business 7.0 7.3 7.7 8.2 8.9 9.6 10.4 10.6 10.7 10.9 2

 3 Nonfarm noncorporate business 29.4 32.2 35.4 38.3 42.5 48.8 58.0 70.6 80.7 87.5 3

 4 Federal government 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2 4

 5 REITs 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.4 0.5 0.5 5

 6 Total assets 38.2 41.3 44.8 48.3 53.2 60.1 70.1 82.9 93.2 100.0 6

 7 Household sector 8.5 8.4 8.4 8.3 7.9 7.9 6.5 6.8 5.8 5.7 7

 8 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.6 0.6 0.6 9

10 State and local governments 0.8 0.9 1.0 1.2 1.6 2.2 2.9 3.9 4.8 6.1 10

11 Federal government 1.0 1.3 1.6 1.9 2.6 3.1 3.5 3.8 4.1 4.8 11

12 Commercial banking 2.0 2.1 2.4 2.7 3.2 3.3 4.0 5.8 6.9 7.6 12

13 Savings institutions 14.4 15.2 16.4 17.8 19.3 21.6 27.2 32.0 35.1 36.7 13

14 Life insurance companies 8.8 10.3 11.7 12.8 14.2 16.0 16.7 17.3 18.5 19.6 14

15 Private pension funds 1.0 1.1 1.2 1.2 1.2 1.2 0.9 0.6 0.5 0.5 15

16 State and local govt. retirement funds 1.2 1.5 1.6 1.8 1.9 2.0 2.2 2.2 2.1 2.2 16

17 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.3 1.1 2.1 4.0 6.2 17

18 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.4 0.6 0.8 18

19 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 20

21 Mortgage companies 0.5 0.4 0.5 0.6 0.7 1.2 2.4 3.2 3.7 2.4 21

22 REITs 0.0 0.0 0.0 0.1 0.5 1.3 2.2 4.2 6.6 6.8 22
FFA, 1965-1974, Z.1, December 9, 2004 87

L.220 Commercial Mortgages

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 55.7 61.5 66.2 73.0 79.1 86.5 97.0 114.2 133.7 148.3 1

 2 Household sector 7.5 8.1 6.2 9.2 9.8 10.6 11.2 11.9 11.9 11.6 2

 3 Nonfinancial corporate business 27.0 30.2 34.2 34.0 34.1 48.1 51.5 58.7 88.0 87.9 3

 4 Nonfarm noncorporate business 21.2 23.2 25.9 29.7 34.8 27.5 33.9 42.7 32.8 47.8 4

 5 REITs 0.0 0.0 0.0 0.1 0.3 0.4 0.5 0.8 1.0 1.1 5

 6 Total assets 55.7 61.5 66.2 73.0 79.1 86.5 97.0 114.2 133.7 148.3 6

 7 Household sector 10.1 10.5 10.4 9.9 9.8 10.8 8.6 9.3 8.3 7.2 7

 8 Nonfinancial corporate business 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 8

 9 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.3 0.7 1.1 1.5 1.7 1.9 9

10 State and local governments 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.7 0.9 1.2 10

11 Federal government 0.1 0.1 0.2 0.3 0.4 0.4 0.5 0.3 0.2 1.6 11

12 Commercial banking 14.4 16.4 17.9 20.5 22.1 23.3 26.3 31.8 38.7 43.7 12

13 Savings institutions 12.4 13.4 14.7 16.6 17.9 19.4 23.9 29.1 33.9 37.2 13

14 Life insurance companies 16.8 18.8 20.5 22.4 24.4 26.0 28.5 31.6 36.5 41.3 14

15 Other insurance companies 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 15

16 Private pension funds 0.9 1.1 1.1 1.1 1.2 1.2 1.3 1.1 1.1 1.1 16

17 State and local govt. retirement funds 0.5 0.6 0.6 0.7 0.7 0.9 0.9 1.1 1.5 2.0 17

18 Agency- and GSE-backed mortgage pools 0.1 0.2 0.3 0.4 0.4 0.5 0.6 0.9 1.1 0.0 18

19 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Finance companies 0.0 0.0 0.0 0.0 0.0 0.2 0.3 0.4 0.5 0.7 20

21 Mortgage companies 0.1 0.1 0.1 0.2 0.2 0.4 0.9 1.1 1.4 1.9 21

22 REITs 0.0 0.0 0.0 0.7 1.3 2.0 3.2 5.0 7.5 7.7 22

L.221 Farm Mortgages

Billions of dollars

 1 Total liabilities (Farm business) 21.2 23.1 25.0 27.2 29.0 30.5 32.4 35.4 39.8 44.9 1

 2 Total assets 21.2 23.1 25.0 27.2 29.0 30.5 32.4 35.4 39.8 44.9 2

 3 Household sector 7.3 7.6 8.2 9.1 9.8 10.2 11.4 12.3 13.5 15.0 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 4

 5 State and local governments 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.4 0.5 0.5 5

 6 Federal government 0.8 0.9 0.8 0.9 0.9 0.8 0.5 0.4 0.4 0.6 6

 7 Commercial banking 2.9 3.1 3.3 3.5 3.8 4.4 4.2 4.8 5.4 6.0 7

 8 Savings institutions 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 8

 9 Life insurance companies 4.8 5.2 5.6 5.8 5.8 5.6 5.6 5.7 6.0 6.3 9

10 State and local govt. retirement funds 0.1 0.1 0.2 0.2 0.3 0.2 0.2 0.2 0.3 0.2 10

11 Government-sponsored enterprises 4.3 5.0 5.6 6.1 6.7 7.2 7.9 9.1 10.9 13.5 11

12 Agency- and GSE-backed mortgage pools 0.7 0.9 1.0 1.1 1.4 1.7 2.1 2.4 2.7 2.6 12
88 FFA, 1965-1974, Z.1, December 9, 2004

L.222 Consumer Credit

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities (Households) 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 1

 2 Total assets 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 2

 3 Nonfinancial corporate business 13.2 13.4 13.7 13.8 13.9 14.7 17.3 18.0 19.2 20.3 3

 4 Nonfarm noncorporate business 4.0 4.0 3.9 3.9 3.7 3.8 3.7 3.6 3.4 3.1 4

 5 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Commercial banking 45.2 48.2 51.7 58.5 63.4 65.6 74.3 87.0 99.6 103.0 6

 7 Savings institutions 3.0 3.2 3.4 3.7 4.2 4.4 4.7 5.1 8.5 9.1 7

 8 Credit unions 7.3 8.3 9.0 10.3 12.0 13.0 14.8 17.0 19.6 21.9 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 9

10 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Finance companies 24.7 26.4 26.9 29.2 32.0 32.1 34.4 38.0 42.6 44.6 11

L.223 Trade Credit

Billions of dollars

 1 Total trade payables 145.6 159.7 172.4 193.3 220.6 234.3 254.8 286.9 349.2 304.3 1

 2 Household sector 3.6 4.0 4.6 5.2 5.8 6.5 7.3 8.2 8.9 10.1 2

 3 Nonfinancial corporate business 94.6 103.8 109.7 126.2 145.7 153.6 167.2 190.4 228.4 165.2 3

 4 Nonfarm noncorporate business 6.6 5.1 5.2 4.2 5.2 4.8 4.4 5.1 17.7 20.1 4

 5 Farm business 6.4 6.8 6.6 5.4 5.0 4.8 5.4 5.9 6.7 7.4 5

 6 State and local governments 26.4 30.9 36.0 41.6 47.3 53.2 59.3 65.4 72.5 82.4 6

 7 Federal government 5.0 5.8 6.5 6.5 6.4 5.4 4.4 4.6 5.7 6.7 7

 8 Rest of the world 2.6 2.9 3.4 3.8 4.6 5.6 6.1 6.6 8.5 11.5 8

 9 Brokers and dealers 0.4 0.4 0.5 0.5 0.6 0.6 0.7 0.8 0.8 0.9 9

10 Total trade receivables 143.3 158.9 170.8 191.2 218.2 227.0 240.2 270.1 317.2 297.3 10

11 Nonfinancial corporate business 120.9 133.3 141.6 160.1 183.0 191.4 203.8 230.2 269.3 245.5 11

12 Nonfarm noncorporate business 7.9 8.5 9.0 7.7 8.1 6.6 8.1 8.8 11.1 13.3 12

13 State and local governments 6.6 7.2 7.8 8.8 10.0 10.6 11.6 13.0 15.8 13.8 13

14 Federal government 3.1 4.4 5.8 6.4 7.3 6.6 4.9 4.0 4.3 5.3 14

15 Rest of the world 2.1 2.7 3.3 4.8 5.8 7.4 7.2 8.2 10.2 12.4 15

16 Other insurance companies 2.6 2.9 3.2 3.5 3.9 4.4 4.7 5.8 6.5 7.0 16

17 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Discrepancy 2.3 0.7 1.6 2.1 2.4 7.4 14.6 16.8 31.9 7.0 18

L.224 Security Credit

Billions of dollars

 1 Total liabilities 18.0 18.7 25.8 32.3 25.7 24.9 28.7 37.4 29.5 25.9 1

 2 Household sector 5.9 5.8 8.9 11.5 8.2 6.9 9.5 13.1 8.9 7.4 2

 3 Rest of the world 0.1 0.1 0.3 0.5 0.3 0.3 0.3 0.4 0.2 0.2 3

 4 Brokers and dealers 12.0 12.8 16.6 20.3 17.2 17.7 19.0 24.0 20.4 18.3 4

 5 Customer credit balances (HH) 2.7 2.9 5.3 7.7 5.7 4.7 5.2 5.4 5.2 4.2 5

 6 From U.S.-chartered commercial banks 8.5 9.0 10.5 11.8 10.7 12.1 12.9 17.4 14.6 13.6 6

 7 From foreign banking offices in U.S. 0.8 0.9 0.9 0.9 0.9 0.9 0.9 1.2 0.6 0.5 7

 8 Total assets 18.0 18.7 25.8 32.3 25.7 24.9 28.7 37.4 29.5 25.9 8

 9 Household sector 2.5 2.7 4.9 7.0 5.2 4.4 4.9 5.0 4.9 3.9 9

10 Rest of the world 0.2 0.2 0.3 0.6 0.4 0.3 0.3 0.4 0.3 0.3 10

11 Commercial banking 9.3 9.9 11.3 12.7 11.5 13.0 13.8 18.6 15.2 14.1 11

12 Brokers and dealers 6.0 6.0 9.2 12.0 8.5 7.2 9.8 13.5 9.1 7.6 12
FFA, 1965-1974, Z.1, December 9, 2004 89

L.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Life insurance reserves:

 1 Total liabilities 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 1

 2 Federal government 7.0 7.1 7.2 7.2 7.3 7.4 7.4 7.6 7.8 7.9 2

 3 Life insurance companies 98.9 103.5 108.3 113.1 118.1 123.3 129.6 136.3 143.5 150.5 3

 4 Total assets (Households) 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 4

 Pension fund reserves:

 5 Total liabilities 162.0 172.5 195.6 218.7 230.9 253.8 293.5 349.3 358.5 367.5 5

 6 Life insurance companies 27.3 29.4 31.9 34.7 37.6 41.0 46.1 52.1 56.1 60.4 6

 7 Private pension funds (1) 80.9 84.0 98.8 112.4 115.0 125.0 148.0 183.3 182.2 181.2 7

 8 State and local govt. retirement funds 34.1 38.1 42.6 48.0 53.2 60.3 69.0 80.6 84.7 87.7 8

 9 Federal government retirement funds (2) 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 9

10 Total assets (Households) (3) 162.0 172.5 195.6 218.7 230.9 253.8 293.5 349.3 358.5 367.5 10

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Federal Employees Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

(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

 1 Total taxes payable by all businesses 20.1 19.2 14.8 16.0 14.5 12.5 16.6 20.5 25.9 32.8 1

 2 Nonfinancial corporate business 18.3 17.4 13.2 14.3 12.6 10.0 13.1 15.5 19.3 24.5 2

 3 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.5 4.0 5.5 3

 4 U.S.-chartered commercial banks 0.7 0.7 0.6 0.5 0.6 1.0 0.9 0.7 0.8 0.9 4

 5 Savings institutions 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 5

 6 Life insurance companies 0.5 0.6 0.5 0.6 0.7 0.8 0.8 0.8 0.8 0.8 6

 7 Other insurance companies 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3 7

 8 Finance companies 0.3 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.3 8

 9 Brokers and dealers 0.1 0.1 0.2 0.2 0.1 0.2 0.1 0.2 0.2 0.0 9

10 Total business taxes receivable 7.2 5.0 5.4 6.5 4.0 1.8 6.2 8.6 11.3 13.9 10

11 State and local governments 0.5 0.5 0.6 0.8 0.8 0.8 2.1 3.9 5.5 7.1 11

12 Federal government 6.8 4.5 4.8 5.7 3.3 0.9 4.1 4.7 5.8 6.8 12

13 Discrepancy 12.9 14.2 9.3 9.5 10.5 10.7 10.3 11.9 14.6 18.9 13

L.227 Investment in Bank Personal Trusts and Estates

Billions of dollars

 1 Liab.: Bank personal trusts and estates 0.0 0.0 0.0 0.0 135.2 137.9 163.0 187.1 175.0 147.3 1

 2 Asset: Household sector 0.0 0.0 0.0 0.0 135.2 137.9 163.0 187.1 175.0 147.3 2
90 FFA, 1965-1974, Z.1, December 9, 2004

L.229 Total Miscellaneous Financial Claims

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 158.5 166.3 178.2 197.1 222.0 240.8 274.1 316.9 359.3 387.5 1

 2 Household sector 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 2

 3 Nonfinancial corporate business 14.8 15.8 15.0 20.3 24.3 14.7 15.5 15.7 20.4 26.0 3

 4 Nonfarm noncorporate business 0.2 0.2 0.2 0.2 0.3 8.9 11.8 14.5 17.9 23.6 4

 5 Federal government 20.3 21.8 23.3 24.9 26.1 27.9 30.7 33.7 35.8 40.0 5

 6 Rest of the world 56.3 61.0 65.1 69.2 74.1 79.2 86.4 92.2 100.2 106.8 6

 7 Monetary authority 0.8 1.0 1.0 1.4 1.8 2.2 2.1 2.1 3.3 3.2 7

 8 Commercial banking 5.8 6.3 7.1 10.7 17.9 22.4 29.2 44.6 52.9 54.2 8

 9 Savings institutions 6.2 5.8 7.2 8.0 8.9 10.5 13.4 16.3 16.5 15.8 9

10 Credit unions 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.6 0.7 1.0 10

11 Life insurance companies 15.2 16.4 18.2 19.7 21.1 22.6 24.5 27.1 29.6 32.2 11

12 Other insurance companies 21.8 23.6 25.7 28.2 31.5 34.9 38.6 43.5 48.4 53.0 12

13 Government-sponsored enterprises 3.9 4.1 4.6 4.4 4.7 6.5 6.0 6.4 8.5 8.9 13

14 Finance companies 7.7 4.5 2.4 3.3 3.8 3.2 8.0 11.4 15.5 11.4 14

15 Mortgage companies 0.0 0.0 2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.4 1.9 16

17 Brokers and dealers 0.9 0.9 0.8 0.8 0.7 0.6 0.6 1.3 1.0 1.2 17

18 Funding corporations 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 18

19 Total assets 152.2 160.0 176.3 195.0 218.6 248.5 291.1 360.4 390.4 504.3 19

20 Household sector 18.5 19.9 21.7 23.6 25.8 28.5 31.1 34.0 37.1 40.0 20

21 Nonfinancial corporate business 64.7 68.3 75.5 84.2 94.9 106.8 123.8 155.7 180.3 242.4 21

22 Nonfarm noncorporate business 4.1 4.4 4.8 5.3 6.0 6.7 11.5 17.1 20.9 21.3 22

23 Farm business 2.5 2.7 3.0 3.3 3.8 4.3 4.8 5.5 6.2 6.9 23

24 State and local governments 0.7 0.8 0.8 0.8 0.7 0.6 0.7 0.6 0.6 0.6 24

25 Federal government 5.4 5.8 5.6 5.4 5.5 5.7 5.8 5.9 6.9 7.0 25

26 Rest of the world 8.8 8.7 9.6 10.9 10.5 10.0 12.7 13.5 -8.4 30.1 26

27 Monetary authority 0.5 0.7 0.7 0.9 0.8 0.9 1.1 1.1 1.4 3.2 27

28 Commercial banking 3.8 4.5 4.8 7.1 11.7 17.2 22.0 33.7 44.4 45.7 28

29 Savings institutions 7.4 6.6 8.3 8.2 7.4 9.6 12.0 13.8 12.4 13.2 29

30 Credit unions -0.2 -0.2 -0.3 -0.3 -0.3 -0.4 -0.4 -0.5 -0.6 -0.6 30

31 Bank personal trusts and estates 0.0 0.0 0.0 0.0 1.9 2.2 2.5 2.6 3.1 3.6 31

32 Life insurance companies 5.7 6.0 6.9 7.5 8.3 9.2 10.1 11.1 12.0 13.4 32

33 Other insurance companies 0.3 0.3 0.4 0.5 0.6 0.8 1.0 1.4 1.8 2.3 33

34 Private pension funds 5.5 6.6 7.8 8.8 9.7 10.7 11.9 19.2 22.8 27.4 34

35 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 35

36 Federal government retirement funds 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 36

37 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 37

38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Government-sponsored enterprises 0.4 0.4 0.4 0.4 0.8 1.5 1.7 1.4 2.3 0.5 39

40 Finance companies 4.2 3.7 4.1 4.7 5.5 6.6 8.4 9.7 11.2 9.0 40

41 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.3 0.7 0.3 41

42 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

43 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 Discrepancy 6.3 6.4 2.0 2.1 3.4 -7.7 -17.1 -43.5 -31.2 -116.8 44
FFA, 1965-1974, Z.1, December 9, 2004 91

L.230 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 55.2 58.3 64.4 70.3 78.7 89.1 101.2 126.4 145.4 166.4 1

 2 Asset: Nonfinancial corporate business 53.2 55.9 61.8 67.4 75.4 85.4 96.9 121.4 139.5 159.3 2

 3 Commercial banking 0.3 0.3 0.4 0.5 0.6 0.8 1.0 1.3 1.6 2.0 3

 4 Life insurance companies 0.3 0.4 0.4 0.4 0.5 0.5 0.6 0.6 0.7 0.7 4

 5 Other insurance companies 0.3 0.3 0.4 0.5 0.6 0.8 1.0 1.4 1.8 2.3 5

 6 Finance companies 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.8 0.9 0.9 6

 7 Brokers and dealers 0.6 0.7 0.8 0.8 0.8 0.9 0.9 1.0 1.0 1.1 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 6.7 7.1 7.8 8.6 9.7 11.1 11.5 12.1 17.3 21.8 8

 9 Nonfarm noncorporate business 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.6 9

10 Commercial banking 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.6 0.8 10

11 Life insurance companies 0.6 0.5 0.6 0.6 0.6 0.6 0.7 0.8 0.9 0.6 11

12 Other insurance companies 0.7 0.6 0.7 0.7 0.7 0.7 0.8 0.9 1.0 0.7 12

13 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 13

14 Brokers and dealers 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.3 0.3 0.5 14

15 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Asset: Rest of the world 8.8 9.1 9.9 10.8 11.8 13.3 13.9 14.9 20.6 25.1 16

 Federal government equity in IBRD, etc.:

17 Liab.: Rest of the world 1.3 1.3 1.4 1.5 1.7 1.9 2.2 2.5 2.8 3.4 17

18 Asset: Federal government 1.3 1.3 1.4 1.5 1.7 1.9 2.2 2.5 2.8 3.4 18

 Federal Reserve Bank stock:

19 Liab.: Monetary authority 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 19

20 Asset: Commercial banking 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 20

 Equity in government-sponsored enterprises:

21 Liab.: Government-sponsored enterprises 2.0 2.3 2.4 2.2 2.4 2.4 2.5 2.7 3.3 4.0 21

22 Asset: Nonfin. corporate business (FNMA) 0.1 0.1 0.1 0.2 0.2 0.0 0.0 0.0 0.0 0.0 22

23 Nonfarm noncorporate (BC) 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 23

24 Farm business (FICB and FLB) 0.3 0.4 0.4 0.5 0.6 0.6 0.7 0.8 0.9 1.1 24

25 Federal government 0.2 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Commercial banks (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Savings institutions (FHLB) 1.3 1.4 1.4 1.4 1.5 1.6 1.6 1.8 2.1 2.6 27

28 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 BHC investment in subsidiaries:

30 Liab.: Commercial banking 0.0 0.0 0.0 0.0 4.0 10.0 15.0 21.0 25.0 32.0 30

31 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.6 3.0 3.6 3.3 32

33 Mortgage companies 0.0 0.0 2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

34 Brokers and dealers 0.0 0.0 -2.0 0.0 0.0 0.0 0.0 0.0 0.8 1.8 34

35 Asset: Bank holding companies 0.0 0.0 0.0 0.0 4.0 10.0 15.6 24.0 29.3 37.0 35

 NFC inv. in finance company subs.:

36 Liab.: Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Asset: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 Funding corp. investment in subs.:

38 Liab.: Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 Asset: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40
92 FFA, 1965-1974, Z.1, December 9, 2004

L.231 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 3.9 4.2 4.0 3.9 3.8 3.8 3.6 3.5 4.1 3.5 1

 2 Asset: Federal government 3.9 4.2 4.0 3.9 3.8 3.8 3.6 3.5 4.1 3.5 2

 Postal Savings System deposits:

 3 Liab.: Federal government 0.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Asset: Household sector 0.4 0.1 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 1.0 1.0 1.4 1.4 1.0 2.3 1.8 1.5 1.7 2.4 5

 6 Asset: Savings institutions 1.0 1.0 1.4 1.4 1.0 2.3 1.8 1.5 1.7 2.4 6

 Deferred and unpaid life insurance premiums:

 7 Liab.: Household sector 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 7

 8 Asset: Life insurance companies 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 8

 Life insurance company reserves:

 9 Liab.: Life insurance companies 10.0 10.8 11.9 12.9 14.0 15.3 16.6 18.1 19.8 21.5 9

10 Health 1.4 1.7 2.1 2.5 2.9 3.5 3.9 4.3 4.9 5.6 10

11 Policy dividend accumulation 7.0 7.5 7.9 8.5 9.0 9.6 10.3 11.1 11.9 12.7 11

12 Policy and contract claims 1.6 1.7 1.8 1.9 2.1 2.2 2.5 2.7 3.0 3.2 12

13 Asset: Household sector 10.0 10.8 11.9 12.9 14.0 15.3 16.6 18.1 19.8 21.5 13

 Policy payables:

14 Liab.: Other insurance companies 21.1 22.9 25.0 27.5 30.8 34.2 37.8 42.6 47.4 52.3 14

15 Asset: Household sector 8.2 8.9 9.7 10.7 11.8 13.2 14.5 15.9 17.3 18.5 15

16 Nonfinancial corporate business 6.8 7.3 8.0 8.8 9.9 10.8 11.9 13.7 15.7 17.8 16

17 Nonfarm noncorporate business 4.0 4.3 4.7 5.2 5.8 6.5 7.3 8.3 9.2 10.2 17

18 Farm business 2.2 2.3 2.6 2.8 3.2 3.6 4.1 4.7 5.2 5.8 18

 Unallocated insurance company contracts:

19 Liab.: Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Asset: Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Pension fund contributions payable:

21 Liab.: Nonfinancial corporate business 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 21

22 Asset: Private pension funds 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 22

 Securities borrowed (net):

23 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Asset: Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 Nonmarketable government securities:

25 Liab.: Federal government 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 25

26 Asset: Federal government retirement funds 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 26

 Uniformed Services Retiree Health Care Fund:

27 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28
FFA, 1965-1974, Z.1, December 9, 2004 93

L.232 Unidentified Miscellaneous Financial Claims

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 30.0 29.9 29.6 36.4 41.5 33.2 40.1 37.8 39.4 22.9 1

 2 Nonfinancial corporate business 6.9 7.5 5.7 10.1 12.8 1.7 1.9 0.9 0.4 1.5 2

 3 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 8.6 11.5 14.2 17.4 23.0 3

 4 Federal government 0.2 0.7 1.0 1.2 0.9 0.3 0.3 0.3 0.3 1.7 4

 5 Rest of the world -4.1 -2.7 -4.6 -6.5 -10.1 -15.7 -20.6 -40.2 -52.1 -66.6 5

 6 Monetary authority 0.3 0.4 0.4 0.8 1.1 1.5 1.3 1.3 2.5 2.3 6

 7 Commercial banking 5.4 5.9 6.7 10.3 13.5 12.0 13.8 23.1 27.3 21.3 7

 8 U.S.-chartered commercial banks 6.5 6.9 7.7 11.8 14.8 13.9 14.9 20.0 21.7 19.5 8

 9 Foreign banking offices in U.S. -1.0 -0.9 -0.9 -1.4 -1.5 -3.3 -4.4 0.8 1.3 0.7 9

10 Bank holding companies 0.0 0.0 0.0 0.0 0.4 1.5 3.5 2.5 4.6 1.4 10

11 Banks in U.S.-affiliated areas -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.2 -0.3 -0.3 11

12 Savings institutions 6.2 5.8 7.2 8.0 8.9 10.5 13.4 16.3 16.5 15.8 12

13 Credit unions 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.6 0.7 1.0 13

14 Life insurance companies 4.6 5.0 5.7 6.2 6.5 6.7 7.2 8.2 8.9 10.1 14

15 Government-sponsored enterprises 0.8 0.8 0.8 0.8 1.3 1.8 1.7 2.1 3.5 2.5 15

16 Finance companies 7.6 4.4 2.4 3.2 3.8 3.1 7.4 8.4 11.8 8.1 16

17 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.4 1.9 17

18 Brokers and dealers 0.7 0.6 2.6 0.5 0.5 0.4 0.4 1.0 0.0 -1.0 18

19 Funding corporations 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 19

20 Total assets 23.6 23.5 27.6 34.2 38.1 40.8 57.2 81.3 70.6 139.7 20

21 Nonfinancial corporate business 4.7 4.9 5.5 7.8 9.3 10.6 15.0 20.6 25.1 65.3 21

22 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 4.0 8.6 11.4 10.8 22

23 State and local governments 0.7 0.8 0.8 0.8 0.7 0.6 0.7 0.6 0.6 0.6 23

24 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Rest of the world -0.0 -0.4 -0.4 0.1 -1.3 -3.3 -1.2 -1.4 -28.9 5.0 25

26 Monetary authority 0.5 0.7 0.7 0.9 0.8 0.9 1.1 1.1 1.4 3.2 26

27 Commercial banking 3.0 3.7 3.8 6.0 6.4 5.7 4.7 7.7 12.7 5.8 27

28 U.S.-chartered commercial banks 1.8 2.2 2.8 4.3 3.9 3.3 2.8 4.0 3.0 -0.1 28

29 Foreign banking offices in U.S. 0.6 0.8 0.2 0.7 -0.0 -1.4 -0.8 0.5 0.6 -0.0 29

30 Bank holding companies 0.0 0.0 0.0 0.0 0.7 1.8 0.5 1.1 6.9 3.9 30

31 Banks in U.S.-affiliated areas 0.6 0.7 0.8 1.0 1.8 2.1 2.1 2.1 2.2 2.0 31

32 Savings institutions 5.1 4.2 5.5 5.5 4.9 5.6 8.6 10.5 8.5 8.2 32

33 Credit unions -0.2 -0.2 -0.3 -0.3 -0.3 -0.4 -0.4 -0.5 -0.6 -0.6 33

34 Bank personal trusts and estates 0.0 0.0 0.0 0.0 1.9 2.2 2.5 2.6 3.1 3.6 34

35 Life insurance companies 2.1 1.9 2.5 2.7 3.2 3.5 4.1 4.5 4.9 5.6 35

36 Private pension funds 4.3 5.4 6.4 7.2 8.0 8.9 9.7 16.4 20.1 24.7 36

37 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 37

38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 39

40 Government-sponsored enterprises 0.4 0.4 0.4 0.4 0.8 1.5 1.7 1.4 2.3 0.5 40

41 Finance companies 3.7 3.0 3.4 4.0 4.7 5.8 7.6 8.9 10.3 8.1 41

42 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.3 0.7 0.3 42

43 Brokers and dealers -0.6 -0.7 -0.8 -0.8 -0.8 -0.9 -0.9 -1.0 -1.0 -1.1 43

44 Discrepancy 6.3 6.4 2.0 2.1 3.4 -7.7 -17.1 -43.5 -31.2 -116.8 44
94 FFA, 1965-1974, Z.1, December 9, 2004

B.100 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Assets 2844.4 2939.6 3256.6 3645.6 3706.2 3879.4 4290.1 4891.6 5123.9 5208.9 1

 2 Tangible assets 888.6 960.2 1026.4 1148.6 1252.9 1331.8 1453.4 1644.3 1864.2 1971.6 2

 3 Real estate 673.0 724.5 768.8 862.2 940.3 995.9 1096.0 1256.4 1434.6 1475.1 3

 4 Households (2,3) 582.2 624.5 660.2 740.8 804.3 845.6 925.8 1064.7 1213.9 1219.3 4

 5 Nonprofit organizations 90.8 100.0 108.6 121.4 136.0 150.3 170.1 191.7 220.7 255.8 5

 Equipment and software owned by

 6 nonprofit organizations (4) 4.0 4.4 4.7 5.0 5.4 5.8 6.1 7.2 8.6 11.4 6

 7 Consumer durable goods (4) 211.5 231.4 253.0 281.3 307.1 330.1 351.3 380.7 421.1 485.1 7

 8 Financial assets 1955.9 1979.4 2230.2 2497.0 2453.4 2547.6 2836.8 3247.3 3259.6 3237.3 8

 9 Deposits 373.3 394.4 439.7 479.4 483.6 531.9 609.1 691.3 760.6 822.2 9

10 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Checkable deposits and currency 86.5 88.9 99.3 108.7 105.3 112.5 125.8 137.2 145.2 149.9 11

12 Time and savings deposits 286.8 305.5 340.4 370.8 378.3 419.4 483.3 554.1 615.5 670.0 12

13 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 13

14 Credit market instruments 170.2 190.8 196.3 206.7 217.0 216.3 204.0 199.5 220.6 262.3 14

15 Open market paper 6.0 8.3 10.1 12.2 14.8 12.5 8.6 3.4 7.5 15.6 15

16 Treasury securities 74.8 79.1 78.9 81.6 88.2 77.5 69.2 72.2 81.9 87.8 16

17 Savings bonds 49.7 50.2 51.2 51.9 51.8 52.1 54.4 57.7 60.4 63.3 17

18 Other Treasury 25.1 28.8 27.7 29.8 36.4 25.4 14.8 14.5 21.5 24.5 18

19 Agency- and GSE-backed securities 1.1 5.9 6.3 6.1 7.2 11.5 10.6 4.9 3.7 8.3 19

20 Municipal securities 36.5 41.2 38.2 36.5 36.4 35.4 31.9 32.4 39.0 47.1 20

21 Corporate and foreign bonds 9.2 11.9 16.3 21.4 21.3 29.5 36.5 38.4 41.3 52.9 21

22 Mortgages 42.6 44.6 46.5 49.0 49.1 50.0 47.3 48.2 47.2 50.5 22

23 Corporate equities (2) 616.1 548.3 682.1 815.3 578.1 562.3 638.2 797.4 587.1 369.1 23

24 Mutual fund shares (5) 34.4 33.9 43.0 49.5 41.5 40.4 48.1 50.6 38.7 28.2 24

25 Security credit 2.5 2.7 4.9 7.0 5.2 4.4 4.9 5.0 4.9 3.9 25

26 Life insurance reserves 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 26

27 Pension fund reserves 162.0 172.5 195.6 218.7 230.9 253.8 293.5 349.3 358.5 367.5 27

28 Investment in bank personal trusts 0.0 0.0 0.0 0.0 135.2 137.9 163.0 187.1 175.0 147.3 28

29 Equity in noncorporate business (6) 472.9 506.4 531.3 576.3 610.6 641.4 707.8 789.1 925.9 1038.3 29

30 Miscellaneous assets 18.5 19.9 21.7 23.6 25.8 28.5 31.1 34.0 37.1 40.0 30

31 Liabilities 350.7 373.9 398.1 433.2 463.3 478.7 525.2 587.2 654.8 710.6 31

32 Credit market instruments 337.9 360.4 380.7 412.3 444.6 460.2 503.0 559.9 630.6 686.1 32

33 Home mortgages (7) 218.6 231.9 245.1 262.2 280.5 289.0 313.0 348.0 387.8 425.1 33

34 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 34

35 Municipal securities (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.3 35

36 Bank loans n.e.c. 4.4 5.1 7.5 6.2 6.8 6.1 7.3 7.6 11.2 16.8 36

37 Other loans and advances 10.0 11.9 13.3 15.3 18.3 20.9 22.3 23.6 26.2 29.4 37

38 Commercial mortgages (8) 7.5 8.1 6.2 9.2 9.8 10.6 11.2 11.9 11.9 11.6 38

39 Security credit 5.9 5.8 8.9 11.5 8.2 6.9 9.5 13.1 8.9 7.4 39

40 Trade payables (8) 3.6 4.0 4.6 5.2 5.8 6.5 7.3 8.2 8.9 10.1 40

 Deferred and unpaid

41 life insurance premiums 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 41

42 Net worth 2493.8 2565.7 2858.5 3212.4 3242.9 3400.7 3764.9 4304.4 4469.1 4498.3 42

 Memo:

 Replacement-cost value of structures:

43 Residential 500.9 539.3 577.9 639.3 682.5 721.7 809.1 899.4 1029.6 1166.9 43

44 Households 477.2 513.2 550.1 608.5 649.1 686.1 769.7 855.9 980.7 1111.1 44

45 Farm households 8.6 9.3 9.9 10.9 12.0 12.8 13.8 14.7 16.0 18.6 45

46 Nonprofit organizations 15.2 16.7 17.9 19.9 21.5 22.8 25.6 28.8 32.9 37.3 46

47 Nonresidential (nonprofits) 53.9 59.3 64.2 71.6 79.8 88.8 101.4 113.8 128.0 149.6 47

48 Disposable personal income 498.1 537.6 575.3 625.1 674.0 735.7 801.8 869.1 978.3 1071.6 48

 Household net worth as percentage of

49 disposable personal income 500.7 477.3 496.9 513.9 481.2 462.2 469.6 495.3 456.8 419.8 49

 Owners’ equity in household real

50 estate (9) 363.7 392.6 415.1 478.6 523.8 556.6 612.8 716.7 826.1 794.2 50

 Owners’ equity as percentage of

51 household real estate (10) 62.5 62.9 62.9 64.6 65.1 65.8 66.2 67.3 68.1 65.1 51

(1) Sector includes farm households.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(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) Net worth of noncorporate business (table B.103, line 31) and owners’ equity in 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 33.

(10) Line 50 divided by line 4.
FFA, 1965-1974, Z.1, December 9, 2004 95

B.102 Balance Sheet of Nonfarm Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 With tangible assets stated at either market value or replacement cost:

 1 Assets 977.3 1057.9 1135.6 1244.4 1375.5 1490.4 1632.6 1808.3 2069.4 2450.5 1

 2 Tangible assets 714.9 781.1 841.0 916.7 1013.6 1107.2 1207.9 1315.4 1498.6 1835.2 2

 3 Real estate (1) 417.1 446.4 474.9 515.8 570.8 627.8 695.9 762.9 867.2 1043.8 3

 4 Equipment and software (2) 181.7 203.4 224.5 249.6 276.9 305.2 327.4 353.1 394.4 489.2 4

 5 Inventories (2) 116.1 131.4 141.6 151.3 165.9 174.1 184.7 199.4 236.9 302.2 5

 6 Financial assets 262.4 276.8 294.6 327.6 361.9 383.2 424.7 492.9 570.8 615.2 6

 7 Foreign deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 7

 8 Checkable deposits and currency 33.1 32.4 34.8 37.5 43.1 44.1 42.6 44.9 46.3 47.8 8

 9 Time and savings deposits 9.0 8.6 9.7 9.1 3.7 5.3 9.5 11.9 16.6 20.5 9

10 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Security RPs 0.6 0.9 0.7 1.1 3.3 0.2 1.1 2.7 11.3 5.5 11

12 Commercial paper 1.4 2.9 4.0 5.1 7.6 9.4 11.3 14.2 14.9 16.5 12

13 Treasury securities 12.5 11.1 8.6 9.0 5.6 6.3 9.1 6.9 2.5 2.6 13

14 Agency- and GSE-backed securities 1.2 1.0 1.0 1.4 1.7 1.2 0.9 1.0 2.0 3.0 14

15 Municipal securities 4.6 3.6 3.3 3.8 2.8 2.2 3.2 4.2 4.0 4.7 15

16 Mortgages 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 16

17 Consumer credit 13.2 13.4 13.7 13.8 13.9 14.7 17.3 18.0 19.2 20.3 17

18 Trade receivables 120.9 133.3 141.6 160.1 183.0 191.4 203.8 230.2 269.3 245.5 18

19 Mutual fund shares (1) 0.3 0.4 0.6 0.8 0.7 0.6 0.7 0.7 0.8 0.8 19

20 Miscellaneous assets 64.7 68.3 75.5 84.2 94.9 106.8 123.8 155.7 180.3 242.4 20

21 Liabilities 335.2 369.2 397.0 446.0 500.4 539.6 585.3 649.5 760.8 764.6 21

22 Credit market instruments 207.6 232.1 259.1 285.1 317.8 361.3 389.5 427.9 492.6 548.9 22

23 Commercial paper 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 23

24 Municipal securities (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 2.4 4.1 24

25 Corporate bonds (4) 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 25

26 Bank loans n.e.c. 60.7 69.1 75.6 85.4 98.8 103.6 107.7 120.5 137.0 159.4 26

27 Other loans and advances 14.8 16.3 16.5 18.2 23.5 25.0 26.4 30.4 36.2 44.9 27

28 Mortgages 34.0 37.6 41.8 42.2 43.1 58.8 63.5 71.7 101.7 101.4 28

29 Trade payables 94.6 103.8 109.7 126.2 145.7 153.6 167.2 190.4 228.4 165.2 29

30 Taxes payable 18.3 17.4 13.2 14.3 12.6 10.0 13.1 15.5 19.3 24.5 30

31 Miscellaneous liabilities 14.8 15.8 15.0 20.3 24.3 14.7 15.5 15.7 20.4 26.0 31

32 Net worth (market value) 642.1 688.8 738.6 798.4 875.1 950.8 1047.2 1158.8 1308.6 1685.8 32

 Memo:

 Replacement-cost value of structures:

33 Residential 8.7 9.9 10.8 11.9 12.7 13.4 15.2 17.1 19.6 22.3 33

34 Nonresidential 267.9 288.0 310.1 340.3 375.2 414.9 462.9 506.1 577.7 706.4 34

 Market value of equities outstanding

35 (includes corporate farm equities) 623.8 547.9 712.2 843.2 705.1 702.2 823.8 1032.7 809.4 557.6 35

36 Debt/net worth (percent) (5) 32.3 33.7 35.1 35.7 36.3 38.0 37.2 36.9 37.6 32.6 36

37 Debt/equities (percent) (6) 33.3 42.4 36.4 33.8 45.1 51.5 47.3 41.4 60.9 98.4 37

38 Equities/net worth (percent) (7) 97.2 79.5 96.4 105.6 80.6 73.9 78.7 89.1 61.8 33.1 38

 With tangible assets stated at historical cost:

39 Assets (8) 773.0 837.8 898.7 980.1 1077.4 1144.2 1231.1 1371.8 1548.2 1716.1 39

40 Tangible assets 510.5 561.0 604.1 652.5 715.5 760.9 806.4 878.9 977.4 1100.9 40

41 Real estate 217.5 233.6 249.7 266.3 287.4 307.4 327.9 352.7 382.3 415.1 41

42 Equipment and software 166.5 184.6 201.4 220.2 241.7 260.2 278.2 300.5 331.3 366.3 42

43 Inventories 126.6 142.8 153.1 166.0 186.4 193.3 200.4 225.7 263.9 319.5 43

44 Net worth (historical cost) (9) 437.7 468.6 501.7 534.1 577.0 604.5 645.8 722.2 787.5 951.5 44

 Memo:

 Historical-cost value of structures:

45 Residential 6.7 7.4 8.0 8.3 8.7 9.1 9.7 10.5 11.3 11.9 45

46 Nonresidential 182.6 195.6 208.6 222.8 239.1 256.4 274.2 294.7 318.3 347.5 46

47 Debt/net worth (percent) (10) 47.4 49.5 51.6 53.4 55.1 59.8 60.3 59.2 62.6 57.7 47

 (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 22 divided by line 32.

 (6) Line 22 divided by line 35.

 (7) Line 35 divided by line 32.

 (8) Sum of lines 6 and 40.

 (9) Line 39 less line 21.

 (10) Line 22 divided by line 44.
96 FFA, 1965-1974, Z.1, December 9, 2004

B.103 Balance Sheet of Nonfarm Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Assets 365.0 395.8 420.4 461.8 501.8 539.8 610.1 691.5 799.7 923.2 1

 2 Tangible assets 336.4 366.3 390.0 432.2 470.6 507.3 568.5 640.9 736.7 855.9 2

 3 Real estate (1) 296.8 323.0 343.7 381.8 415.3 447.2 504.3 572.5 660.4 764.3 3

 4 Residential 226.9 246.5 260.8 289.8 312.5 332.1 373.2 424.9 489.0 559.8 4

 5 Nonresidential 69.9 76.5 82.9 92.0 102.9 115.1 131.2 147.6 171.4 204.5 5

 6 Equipment and software (2) 33.5 36.5 38.9 42.4 46.6 50.9 54.4 57.9 63.8 75.7 6

 7 Residential (3) 3.0 3.2 3.4 3.8 4.2 4.7 5.2 5.9 6.7 8.2 7

 8 Nonresidential 30.5 33.3 35.5 38.7 42.4 46.2 49.2 52.0 57.1 67.5 8

 9 Inventories (2) 6.1 6.9 7.5 8.0 8.7 9.2 9.7 10.5 12.5 15.9 9

10 Financial assets 28.6 29.4 30.4 29.6 31.1 32.4 41.6 50.7 63.0 67.3 10

11 Checkable deposits and currency 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 16.9 17.3 11

12 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 1.4 3.0 4.6 6.2 7.8 12

13 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Treasury securities 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 14

15 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Mortgages 0.0 0.0 0.0 0.0 0.3 0.7 1.9 3.0 3.3 3.4 16

17 Consumer credit 4.0 4.0 3.9 3.9 3.7 3.8 3.7 3.6 3.4 3.1 17

18 Trade receivables 7.9 8.5 9.0 7.7 8.1 6.6 8.1 8.8 11.1 13.3 18

19 Miscellaneous assets 4.1 4.4 4.8 5.3 6.0 6.7 11.5 17.1 20.9 21.3 19

20 Insurance receivables 4.0 4.3 4.7 5.2 5.8 6.5 7.3 8.3 9.2 10.2 20

21 Equity investment in GSEs (4) 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 21

22 Other 0.0 0.0 0.0 0.0 0.0 0.0 4.0 8.6 11.4 10.8 22

23 Liabilities 71.5 76.7 84.1 91.5 105.1 117.3 139.8 171.1 208.0 247.7 23

24 Credit market instruments 64.7 71.5 78.7 87.1 99.6 103.6 122.6 149.0 168.5 198.4 24

25 Bank loans n.e.c. 6.7 8.1 8.8 9.9 12.1 11.7 12.6 13.7 28.6 36.0 25

26 Other loans and advances 7.4 8.0 8.6 9.2 10.2 11.2 11.8 12.5 14.6 16.6 26

27 Mortgages 50.6 55.3 61.3 68.0 77.3 80.7 98.2 122.8 125.2 145.8 27

28 Trade payables 6.6 5.1 5.2 4.2 5.2 4.8 4.4 5.1 17.7 20.1 28

29 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.5 4.0 5.5 29

30 Miscellaneous liabilities 0.2 0.2 0.2 0.2 0.3 8.9 11.8 14.5 17.9 23.6 30

31 Net worth (5) 293.5 319.0 336.3 370.3 396.7 422.5 470.3 520.5 591.7 675.6 31

 Memo:

 Replacement-cost value of structures:

32 Residential 188.0 205.3 216.9 239.0 257.1 273.1 309.0 350.9 403.1 463.5 32

33 Nonresidential 53.8 58.8 63.5 70.0 77.3 85.6 97.0 107.6 122.3 145.5 33

34 Debt/net worth (percent) (6) 22.1 22.4 23.4 23.5 25.1 24.5 26.1 28.6 28.5 29.4 34

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 23. Included in table B.100, line 29.

(6) Line 24 divided by line 31.
FFA, 1965-1974, Z.1, December 9, 2004 97

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Change in net worth (1) 182.1 71.9 292.8 353.9 30.5 157.8 364.2 539.5 164.7 29.2 1

 2 Net investment 65.1 77.4 79.5 76.7 83.5 92.3 104.2 122.9 156.0 119.5 2

 3 Net physical investment 37.4 37.4 35.1 42.8 42.5 34.8 49.6 64.9 74.7 55.5 3

 4 Capital expenditures 89.4 93.0 95.2 109.3 115.6 113.6 135.4 158.1 177.3 170.4 4

 5 - Consumption of fixed capital 52.0 55.7 60.0 66.4 73.1 78.8 85.8 93.1 102.6 114.9 5

 6 Net financial investment 27.8 40.1 44.4 33.9 41.0 57.5 54.6 58.0 81.2 64.0 6

 7 Net acquisition of financial assets 57.3 63.0 68.8 68.8 70.7 76.8 100.6 119.9 147.7 120.1 7

 8 - Net increase in liabilities 29.5 22.9 24.4 34.9 29.7 19.3 46.0 61.9 66.5 56.1 8

 Holding gains on assets

 9 at market value (2) 124.1 -5.8 209.1 270.8 -15.5 54.6 260.8 417.2 9.2 -130.0 9

10 Real estate 14.4 34.0 27.1 72.7 64.4 36.2 72.2 125.1 140.5 15.5 10

11 Corporate equities 77.2 -63.6 140.6 144.9 -220.5 -10.5 88.5 174.0 -198.8 -214.5 11

12 Mutual fund shares 3.9 -2.8 8.2 4.4 -10.3 -2.0 7.7 4.1 -9.3 -8.9 12

13 Equity in noncorporate business 24.3 31.5 24.7 42.0 35.0 30.9 65.1 87.1 127.9 140.6 13

 Life insurance and

14 pension fund reserves 4.2 -5.0 8.5 6.8 -6.1 2.3 15.8 12.3 -25.3 -28.5 14

 Investment in bank personal

15 trusts and estates 0.0 0.0 0.0 0.0 122.1 -2.2 11.5 14.7 -25.7 -34.1 15

 Holding gains on assets

16 at current cost (2) -3.9 3.0 6.5 8.7 7.7 10.4 3.3 5.3 11.0 46.4 16

17 Consumer durable goods -3.9 2.8 6.4 8.6 7.5 10.2 3.2 5.2 10.8 45.0 17

18 Equipment and software 0.0 0.1 0.1 0.1 0.2 0.2 0.1 0.1 0.3 1.4 18

19 Other volume changes (3) -3.3 -2.7 -2.3 -2.3 -45.2 0.5 -4.2 -6.0 -11.5 -6.8 19

 Memo:

20 Net worth outstanding (4) 2493.8 2565.7 2858.5 3212.4 3242.9 3400.7 3764.9 4304.4 4469.1 4498.3 20

21 Disposable personal income 498.1 537.6 575.3 625.1 674.0 735.7 801.8 869.1 978.3 1071.6 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 less net purchases during period.

(3) Consists of the difference between series for consumption of fixed capital published by BEA and statistical discontinuities.

(4) Table B.100, line 42.
98 FFA, 1965-1974, Z.1, December 9, 2004

R.102 Change in Net Worth of Nonfarm Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Change in net worth (1) 39.5 46.7 49.8 59.8 76.7 75.7 96.5 111.5 149.8 377.2 1

 2 Net investment 26.8 27.1 29.6 25.4 28.9 22.6 38.2 55.8 39.6 58.8 2

 3 Net physical investment 34.6 46.6 39.6 42.0 49.2 42.4 42.5 52.1 80.5 104.6 3

 4 Capital expenditures 59.8 73.8 71.0 75.2 84.4 81.5 87.0 100.5 124.7 143.8 4

 5 - Consumption of fixed capital 28.2 31.4 34.1 37.4 42.1 46.6 50.3 56.0 62.3 73.6 5

 6 - Inventory valuation adjustment -1.2 -2.1 -1.6 -3.7 -5.9 -6.6 -4.6 -6.6 -19.6 -38.2 6

 7 - Nonproduced nonfinancial assets -1.8 -2.1 -1.2 -0.5 -1.1 -0.9 -1.2 -1.0 1.5 3.8 7

 8 Net financial investment -7.8 -20.8 -12.4 -16.5 -23.7 -25.4 -15.7 -7.3 -48.8 -50.0 8

 9 Net acquisition of financial assets 27.4 14.4 17.8 33.1 34.2 21.4 41.4 68.2 77.9 50.3 9

10 - Net increase in liabilities 35.2 35.2 30.2 49.5 57.9 46.8 57.1 75.5 126.7 100.3 10

11 Net corporate equity issues -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 11

 Holding gains on assets

12 at market value (2) 11.2 15.5 15.0 27.2 36.9 40.8 52.5 48.2 80.9 152.4 12

13 Real estate 11.2 15.5 14.9 27.2 37.1 40.8 52.5 48.2 81.1 152.7 13

14 Mutual fund shares 0.0 -0.0 0.1 0.0 -0.2 -0.1 0.1 0.0 -0.2 -0.3 14

 Holding gains on assets less

15 liabilities at current cost (2) 7.4 3.8 8.6 10.4 13.2 16.2 13.8 27.4 26.2 91.9 15

16 Equipment and software 1.2 5.8 6.7 8.9 9.7 13.5 8.6 7.9 15.7 68.6 16

17 Inventories (3) 0.3 -0.3 0.2 -1.3 -0.0 -1.0 -0.3 -0.3 4.3 11.1 17

18 Direct investment abroad 5.9 -1.8 1.8 2.8 3.4 3.7 5.6 19.5 8.9 12.0 18

19 - Foreign direct investment in U.S. -0.0 -0.0 0.1 0.0 -0.1 0.0 0.1 -0.3 2.7 -0.1 19

20 Other volume changes (4) -6.0 0.4 -3.4 -3.1 -2.3 -3.9 -8.1 -19.8 3.1 74.2 20

 Memo:

21 Net worth outstanding (5) 642.1 688.8 738.6 798.4 875.1 950.8 1047.2 1158.8 1308.6 1685.8 21

(1) Sum of net investment (line 2), holding gains (lines 12 and 15), and other factors (line 20).

(2) Calculated as change in amount outstanding less net purchases during period.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities.

(5) Table B.102, line 32.
FFA, 1965-1974, Z.1, December 9, 2004 99

R.103 Change in Net Worth of Nonfarm Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Change in net worth (1) 14.1 25.6 17.3 34.0 26.3 25.8 47.9 50.2 71.2 83.9 1

 2 Net investment (2) 3.2 3.9 -0.0 1.2 -0.2 0.5 2.3 -3.1 12.0 -22.2 2

 3 Net physical investment 8.2 8.2 6.4 9.3 11.9 11.4 15.7 19.1 20.8 13.2 3

 4 Capital expenditures 17.7 18.6 17.4 21.1 25.0 25.5 31.0 36.1 39.7 34.9 4

 5 - Consumption of fixed capital 9.5 10.4 11.0 11.8 13.1 14.2 15.4 17.1 18.9 21.7 5

 6 Net acquisition of financial assets 0.4 0.9 0.9 -0.7 1.5 1.3 9.2 9.1 8.3 4.3 6

 - Net increase in liabilities from:

 7 Credit market instruments 6.2 6.7 7.2 8.4 12.5 4.0 19.0 26.4 9.6 29.9 7

 8 Trade payables -0.9 -1.5 0.1 -1.0 1.0 -0.4 -0.4 0.7 2.6 2.5 8

 9 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.5 1.5 1.6 9

10 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 8.6 2.9 2.7 3.4 5.7 10

11 Holding gains on real estate (3) 9.6 19.2 14.2 29.5 22.9 20.9 41.7 50.6 68.6 90.4 11

12 Residential 6.9 16.1 11.1 23.3 15.4 12.5 30.2 37.8 51.1 62.9 12

13 Nonresidential 2.7 3.1 3.1 6.3 7.5 8.4 11.5 12.8 17.5 27.5 13

14 Holding gains on assets at current cost (3) 1.4 2.7 3.2 3.4 3.8 4.7 4.0 2.9 6.5 15.9 14

15 Residential equipment and software 0.3 0.3 0.3 0.4 0.5 0.6 0.7 0.9 1.0 1.0 15

16 Nonresidential equipment and software 1.6 2.7 3.2 3.3 3.5 4.5 4.0 2.8 5.4 12.7 16

17 Inventories 0.1 0.1 0.1 0.1 0.3 0.3 0.2 0.3 1.3 2.6 17

18 Other volume changes (4) 3.1 3.7 -0.2 1.1 -0.4 0.3 2.2 -3.3 -4.0 -22.3 18

 Memo:

19 Net worth outstanding (5) 293.5 319.0 336.3 370.3 396.7 422.5 470.3 520.5 591.7 675.6 19

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other factors (line 18).

(2) Also equal to proprietor’s net investment shown on table F.103, line 29.

(3) Calculated as change in amount outstanding less net investment during period.

(4) Consists of statistical discontinuities.

(5) Table B.103, line 31.
100 FFA, 1965-1974, Z.1, December 9, 2004

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Current receipts, NIPA basis 180.3 202.6 217.8 252.0 283.6 286.9 303.5 346.9 390.0 431.3 1

 2 Personal current taxes 57.7 66.4 73.0 87.0 104.5 103.1 101.7 123.7 132.4 151.1 2

 3 Taxes on production and imports 60.8 63.3 68.0 76.5 84.0 91.5 100.6 108.1 117.4 125.0 3

 4 Taxes on corporate income 30.9 33.7 32.7 39.4 39.7 34.4 37.8 41.8 49.3 51.8 4

 5 Taxes from the rest of the world 0.2 0.2 0.2 0.3 0.4 0.4 0.4 0.4 0.4 0.4 5

 6 Contributions for govt. social insurance 23.4 31.3 34.9 38.7 44.1 46.4 51.2 59.2 75.5 85.2 6

 7 Income receipts on assets 4.1 4.7 5.6 6.4 7.1 8.2 8.9 9.6 11.5 14.4 7

 8 Current transfer receipts 2.0 2.1 2.6 2.6 2.8 3.0 3.1 3.6 3.9 4.5 8

 9 Current surplus of government enterprises 1.4 1.0 0.9 1.2 1.1 0.0 -0.2 0.5 -0.4 -1.0 9

10 Current expenditures, NIPA basis 170.5 192.7 220.0 246.7 266.6 294.7 325.2 355.6 385.6 435.8 10

11 Consumption expenditures 115.9 132.0 149.7 165.8 178.2 190.2 204.7 220.8 234.9 261.7 11

12 Government social benefits 34.3 37.8 46.2 53.7 59.3 72.2 85.9 95.3 109.3 129.2 12

13 Other current transfer payments 3.6 3.9 4.0 4.4 4.4 4.6 5.7 6.9 4.9 5.6 13

14 Interest payments 13.8 15.1 16.4 18.8 20.2 23.1 24.5 26.3 31.3 35.6 14

15 Subsidies 3.0 3.9 3.8 4.2 4.5 4.8 4.7 6.7 5.3 3.3 15

16 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 -0.0 -0.5 16

17 Net government saving, NIPA basis 9.8 9.9 -2.2 5.3 17.0 -7.9 -21.7 -8.7 4.5 -4.5 17

18 + Consumption of fixed capital 18.9 20.1 21.6 23.1 24.8 26.7 28.3 29.4 31.4 35.9 18

19 - Insurance and pension fund reserves (2) 0.3 0.3 0.3 0.1 0.1 0.2 -0.1 0.1 -0.0 -0.1 19

20 + Net capital transfers (3) 3.5 3.8 3.9 4.0 4.5 4.6 5.7 6.6 6.4 6.1 20

21 = Gross saving and net capital transfers 31.9 33.5 22.9 32.3 46.1 23.2 12.3 27.3 42.3 37.5 21

22 Gross investment 30.9 32.9 21.4 26.9 38.4 17.7 6.2 22.2 40.8 28.4 22

23 Fixed investment 35.6 39.8 43.0 43.6 43.3 43.6 41.8 42.6 46.8 56.3 23

24 Nonproduced nonfinancial assets 1.8 2.1 1.2 0.5 1.1 0.9 1.2 1.0 -1.5 -3.8 24

25 Net financial investment -6.4 -9.0 -22.8 -17.2 -6.0 -26.7 -36.7 -21.4 -4.6 -24.0 25

26 Net acquisition of financial assets 7.0 7.6 5.6 11.5 6.3 5.9 13.9 14.9 25.5 12.7 26

27 Gold, SDRs, and official foreign exchange 0.3 -0.3 0.6 1.9 1.6 -1.8 -1.6 0.5 -0.1 1.4 27

28 Checkable deposits and currency -2.2 0.1 1.3 -3.0 3.5 2.5 4.3 -0.4 -1.7 -4.3 28

29 Time and savings deposits 2.4 1.2 2.3 3.3 -6.0 10.2 7.3 6.8 6.4 5.0 29

30 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Security RPs 1.1 1.5 -0.5 -1.5 3.9 -4.0 0.6 -0.1 1.4 -1.8 31

32 Credit market instruments 2.9 3.9 4.9 8.6 4.3 1.4 1.1 5.9 12.2 11.6 32

33 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

34 Agency- and GSE-backed securities (4) 0.2 0.6 0.3 3.5 0.1 -2.4 -2.2 3.3 6.6 3.1 34

35 Municipal securities -0.1 -0.0 0.0 0.0 0.1 0.1 -0.3 -0.3 0.2 0.5 35

36 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Mortgages 0.2 1.2 1.0 1.6 1.4 1.2 0.7 0.7 1.1 5.2 37

38 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Other loans and advances (5) 2.6 2.1 3.6 3.4 2.7 2.5 2.8 2.2 4.2 2.9 39

40 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

42 Trade receivables 0.4 1.2 1.5 0.6 0.9 -0.8 -1.7 -0.8 0.3 1.0 42

43 Taxes receivable 1.4 -1.3 -4.9 1.1 -3.1 -2.5 2.8 1.5 3.3 1.8 43

44 Miscellaneous assets 0.1 0.5 -0.1 -0.3 -0.0 0.2 0.1 0.0 0.9 0.1 44

45 Net increase in liabilities 13.4 16.5 28.3 28.8 12.3 32.7 50.7 36.4 30.1 36.8 45

46 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 46

47 Treasury currency 0.2 0.9 0.7 0.4 0.3 0.2 0.5 0.5 0.4 0.4 47

48 Credit market instruments 6.7 9.3 20.5 20.8 5.2 24.1 41.3 26.3 19.6 24.2 48

49 Savings bonds 0.6 0.6 1.0 0.6 -0.1 0.3 2.3 3.3 2.7 3.0 49

50 Other Treasury securities (6) -1.7 1.2 8.2 8.6 -3.8 12.8 24.0 8.6 2.7 8.7 50

51 Budget agency securities 0.4 1.4 4.2 3.2 -2.3 -1.0 -1.1 0.9 0.4 -0.1 51

52 Municipal securities 7.2 6.2 7.2 8.4 11.4 12.0 16.1 13.6 13.8 12.8 52

53 Multifamily residential mortgages 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 53

54 Trade payables 5.1 5.4 5.7 5.5 5.6 4.9 5.1 6.3 8.2 9.3 54

55 Insurance reserves 0.1 0.1 0.1 -0.0 0.1 0.1 0.1 0.2 0.2 0.1 55

56 Miscellaneous liabilities (7) 1.3 0.9 1.4 2.1 1.2 2.9 3.7 3.0 1.8 2.7 56

57 Discrepancy 1.0 0.7 1.6 5.4 7.8 5.5 6.1 5.1 1.5 9.1 57

 Memo:

58 Net govt. saving less fixed investment (8) -25.8 -29.9 -45.1 -38.4 -26.3 -51.5 -63.5 -51.4 -42.4 -60.8 58

59 Adjustment between NIPA and FOF (9) 19.4 20.9 22.4 21.1 20.3 24.7 26.7 29.9 37.8 36.7 59

60 Items to be financed (10) -6.4 -9.0 -22.8 -17.2 -6.0 -26.7 -36.7 -21.4 -4.6 -24.0 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.
FFA, 1965-1974, Z.1, December 9, 2004 101

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 95.6 102.0 113.4 124.5 131.4 137.6 152.5 169.2 195.4 210.2 1

 2 Gold, SDRs, and official foreign exchange 1.4 0.9 1.3 3.3 4.7 3.6 2.2 2.6 2.9 4.3 2

 3 Checkable deposits and currency 16.6 16.7 18.6 15.5 19.3 21.1 25.3 26.0 25.3 21.2 3

 4 Time and savings deposits 12.4 13.7 16.0 19.2 13.3 23.5 30.8 37.6 44.0 49.0 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Security RPs -0.7 0.8 0.3 -1.3 2.6 -1.4 -0.9 -1.0 0.5 -1.3 6

 7 Credit market instruments 42.8 46.7 51.6 59.8 64.1 65.5 65.9 71.8 83.7 96.4 7

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

 9 Agency- and GSE-backed securities (1) 3.1 3.7 4.0 7.6 7.6 5.2 3.0 6.3 13.0 16.0 9

10 Municipal securities 2.2 2.1 2.1 2.2 2.2 2.4 2.1 1.8 2.1 2.6 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Mortgages 8.6 9.8 10.8 12.5 13.9 15.1 15.8 16.5 17.6 23.8 12

13 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Other loans and advances (2) 28.9 31.1 34.7 37.6 40.3 42.8 45.0 47.2 51.1 53.9 14

15 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Trade receivables 3.1 4.4 5.8 6.4 7.3 6.6 4.9 4.0 4.3 5.3 17

18 Taxes receivable 7.2 5.0 5.4 6.5 4.0 1.8 6.2 8.6 11.3 13.9 18

19 Miscellaneous assets 6.1 6.6 6.5 6.2 6.2 6.4 6.5 6.6 7.5 7.5 19

20 Total liabilities 404.2 421.3 449.8 477.9 490.3 521.8 571.6 608.0 639.4 678.9 20

21 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 21

22 Treasury currency 3.1 4.0 4.6 5.1 5.3 5.6 6.0 6.6 7.0 7.3 22

23 Credit market instruments 342.4 351.7 372.1 392.8 397.9 422.1 463.4 489.7 510.1 534.3 23

24 Savings bonds 49.7 50.2 51.2 51.9 51.8 52.1 54.4 57.7 60.4 63.3 24

25 Other Treasury securities (3) 187.8 189.0 197.2 205.8 202.1 214.9 238.9 247.6 250.3 259.0 25

26 Budget agency securities 2.7 4.0 8.2 11.3 9.0 8.1 7.0 7.9 8.4 8.2 26

27 Municipal securities 100.4 106.6 113.8 122.1 133.5 145.5 161.6 175.2 189.9 202.6 27

28 Multifamily residential mortgages 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2 28

29 Trade payables 31.4 36.8 42.5 48.0 53.6 58.5 63.7 70.0 78.2 89.0 29

30 Insurance reserves 7.0 7.1 7.2 7.2 7.3 7.4 7.4 7.6 7.8 7.9 30

31 Miscellaneous liabilities (4) 20.3 21.8 23.3 24.9 26.1 27.9 30.7 33.7 35.8 40.0 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.
102 FFA, 1965-1974, Z.1, December 9, 2004

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets ND ND ND ND ND ND ND ND ND ND 1

 2 Checkable deposits and currency ND ND ND ND ND ND ND ND ND ND 2

 3 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 3

 4 Money market fund shares ND ND ND ND ND ND ND ND ND ND 4

 5 Security RPs ND ND ND ND ND ND ND ND ND ND 5

 6 Credit market instruments ND ND ND ND ND ND ND ND ND ND 6

 7 Open market paper ND ND ND ND ND ND ND ND ND ND 7

 8 Treasury securities ND ND ND ND ND ND ND ND ND ND 8

 9 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 9

10 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 10

11 Mortgages ND ND ND ND ND ND ND ND ND ND 11

12 Corporate equities ND ND ND ND ND ND ND ND ND ND 12

13 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 13

14 Miscellaneous assets ND ND ND ND ND ND ND ND ND ND 14

15 Unallocated insurance contracts (1) ND ND ND ND ND ND ND ND ND ND 15

16 Contributions receivable ND ND ND ND ND ND ND ND ND ND 16

17 Other ND ND ND ND ND ND ND ND ND ND 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 ND ND ND ND ND ND ND ND ND ND 1

 2 Checkable deposits and currency ND ND ND ND ND ND ND ND ND ND 2

 3 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 3

 4 Money market fund shares ND ND ND ND ND ND ND ND ND ND 4

 5 Security RPs ND ND ND ND ND ND ND ND ND ND 5

 6 Credit market instruments ND ND ND ND ND ND ND ND ND ND 6

 7 Open market paper ND ND ND ND ND ND ND ND ND ND 7

 8 Treasury securities ND ND ND ND ND ND ND ND ND ND 8

 9 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 9

10 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 10

11 Mortgages ND ND ND ND ND ND ND ND ND ND 11

12 Corporate equities ND ND ND ND ND ND ND ND ND ND 12

13 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 13

14 Miscellaneous assets ND ND ND ND ND ND ND ND ND ND 14

15 Unallocated insurance contracts (2) ND ND ND ND ND ND ND ND ND ND 15

16 Contributions receivable ND ND ND ND ND ND ND ND ND ND 16

17 Other ND ND ND ND ND ND ND ND ND ND 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: ND ND ND ND ND ND ND ND ND ND 1

 2 Commercial banking ND ND ND ND ND ND ND ND ND ND 2

 3 Saving institutions ND ND ND ND ND ND ND ND ND ND 3

 4 Credit unions ND ND ND ND ND ND ND ND ND ND 4

 5 Life insurance companies ND ND ND ND ND ND ND ND ND ND 5

 6 Money market mutual funds ND ND ND ND ND ND ND ND ND ND 6

 7 Mutual funds ND ND ND ND ND ND ND ND ND ND 7

 8 Other self-directed accounts ND ND ND ND ND ND ND ND ND ND 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).
FFA, 1965-1974, Z.1, December 9, 2004 103

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets ND ND ND ND ND ND ND ND ND ND 1

 2 Checkable deposits and currency ND ND ND ND ND ND ND ND ND ND 2

 3 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 3

 4 Money market fund shares ND ND ND ND ND ND ND ND ND ND 4

 5 Security RPs ND ND ND ND ND ND ND ND ND ND 5

 6 Credit market instruments ND ND ND ND ND ND ND ND ND ND 6

 7 Open market paper ND ND ND ND ND ND ND ND ND ND 7

 8 Treasury securities ND ND ND ND ND ND ND ND ND ND 8

 9 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 9

10 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 10

11 Mortgages ND ND ND ND ND ND ND ND ND ND 11

12 Corporate equities ND ND ND ND ND ND ND ND ND ND 12

13 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 13

14 Miscellaneous assets ND ND ND ND ND ND ND ND ND ND 14

15 Unallocated insurance contracts (1) ND ND ND ND ND ND ND ND ND ND 15

16 Contributions receivable ND ND ND ND ND ND ND ND ND ND 16

17 Other ND ND ND ND ND ND ND ND ND ND 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

 1 Total financial assets ND ND ND ND ND ND ND ND ND ND 1

 2 Checkable deposits and currency ND ND ND ND ND ND ND ND ND ND 2

 3 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 3

 4 Money market fund shares ND ND ND ND ND ND ND ND ND ND 4

 5 Security RPs ND ND ND ND ND ND ND ND ND ND 5

 6 Credit market instruments ND ND ND ND ND ND ND ND ND ND 6

 7 Open market paper ND ND ND ND ND ND ND ND ND ND 7

 8 Treasury securities ND ND ND ND ND ND ND ND ND ND 8

 9 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 9

10 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 10

11 Mortgages ND ND ND ND ND ND ND ND ND ND 11

12 Corporate equities ND ND ND ND ND ND ND ND ND ND 12

13 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 13

14 Miscellaneous assets ND ND ND ND ND ND ND ND ND ND 14

15 Unallocated insurance contracts (2) ND ND ND ND ND ND ND ND ND ND 15

16 Contributions receivable ND ND ND ND ND ND ND ND ND ND 16

17 Other ND ND ND ND ND ND ND ND ND ND 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

 1 Total held at: ND ND ND ND ND ND ND ND ND ND 1

 2 Commercial banking ND ND ND ND ND ND ND ND ND ND 2

 3 Saving institutions ND ND ND ND ND ND ND ND ND ND 3

 4 Credit unions ND ND ND ND ND ND ND ND ND ND 4

 5 Life insurance companies ND ND ND ND ND ND ND ND ND ND 5

 6 Money market mutual funds ND ND ND ND ND ND ND ND ND ND 6

 7 Mutual funds ND ND ND ND ND ND ND ND ND ND 7

 8 Other self-directed accounts ND ND ND ND ND ND ND ND ND ND 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).
104 FFA, 1965-1974, Z.1, December 9, 2004

B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Assets 2844.4 2939.6 3256.6 3645.6 3706.2 3879.4 4290.1 4891.6 5123.9 5208.9 1

 2 Tangible assets 888.6 960.2 1026.4 1148.6 1252.9 1331.8 1453.4 1644.3 1864.2 1971.6 2

 3 Financial assets 1955.9 1979.4 2230.2 2497.0 2453.4 2547.6 2836.8 3247.3 3259.6 3237.3 3

 4 Deposits 373.3 394.4 439.7 479.4 483.6 531.9 609.1 691.3 760.6 822.2 4

 5 Credit market instruments 170.2 190.8 196.3 206.7 217.0 216.3 204.0 199.5 220.6 262.3 5

 6 Equity shares at market value 689.7 619.2 776.2 929.1 778.0 769.1 900.7 1109.6 851.5 566.2 6

 7 Directly held 616.1 548.3 682.1 815.3 578.1 562.3 638.2 797.4 587.1 369.1 7

 8 Indirectly held 73.6 70.9 94.1 113.8 199.9 206.8 262.5 312.2 264.4 197.1 8

 9 Bank personal trusts and estates 0.0 0.0 0.0 0.0 92.8 91.4 109.8 129.1 110.9 78.6 9

10 Life insurance companies 0.2 0.5 1.1 1.9 2.8 4.0 6.5 8.7 7.9 6.1 10

11 Private pension funds 40.8 39.5 51.1 61.5 61.4 67.1 88.7 107.8 93.6 74.8 11

12 Defined benefit plans 32.6 31.6 40.9 49.2 49.1 50.3 66.5 80.9 70.2 56.1 12

13 Defined contribution plans 8.2 7.9 10.2 12.3 12.3 16.8 22.2 27.0 23.4 18.7 13

14 State and local govt. retirement funds 2.5 2.8 3.9 5.8 7.3 10.1 15.4 22.2 20.2 16.4 14

15 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Mutual funds 30.2 28.1 38.0 44.6 35.6 34.3 42.2 44.4 31.8 21.2 16

17 Other 722.7 775.0 818.0 881.8 974.8 1030.3 1122.9 1246.9 1426.9 1586.6 17

18 Liabilities 350.7 373.9 398.1 433.2 463.3 478.7 525.2 587.2 654.8 710.6 18

19 Net worth 2493.8 2565.7 2858.5 3212.4 3242.9 3400.7 3764.9 4304.4 4469.1 4498.3 19

 Memo:

20 Equity shares excluding defined benefit plans 654.6 584.8 731.4 874.1 721.5 708.7 818.8 1006.6 761.1 493.7 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) 24.2 21.1 23.8 25.5 21.0 19.8 21.0 22.7 16.6 10.9 21

22 Financial assets (line 3) 35.3 31.3 34.8 37.2 31.7 30.2 31.8 34.2 26.1 17.5 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.