December 9, 2004

Flow of Funds Accounts

of the United States

Annual Flows and Outstandings

1985-1994

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, 1985-1994, Z.1, December 9, 2004 1

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total net borrowing 1168.2 1183.8 1015.8 1045.3 922.6 907.7 663.2 822.2 930.5 1025.2 1

 2 Domestic nonfinancial sectors 963.0 845.3 719.0 787.6 687.4 656.0 465.7 515.1 566.6 571.6 2

 3 Federal government 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 3

 4 Nonfederal sectors 737.3 629.3 575.1 632.5 541.0 409.1 187.5 211.1 310.5 415.8 4

 5 Household sector 307.2 259.6 262.6 270.4 283.8 234.3 186.5 201.3 236.6 323.1 5

 6 Nonfinancial corporate business 181.8 224.9 163.4 222.9 159.9 133.8 -53.7 24.1 34.4 126.5 6

 7 Nonfarm noncorporate business 99.2 88.0 70.3 95.4 46.6 -7.2 -32.7 -31.7 -20.5 8.0 7

 8 Farm business -14.5 -17.4 -11.6 -10.2 0.6 1.0 2.0 0.5 2.3 4.4 8

 9 State and local governments 163.6 74.2 90.4 54.0 50.1 47.2 85.4 16.9 57.7 -46.3 9

10 Rest of the world 1.2 9.7 6.3 7.4 10.2 23.9 15.1 24.1 69.8 -11.2 10

11 Financial sectors 204.0 328.8 290.6 250.2 225.0 227.8 182.4 283.0 294.1 464.8 11

12 Commercial banking 12.4 7.6 21.5 2.0 5.2 -26.8 -13.2 10.0 13.4 20.1 12

13 U.S.-chartered commercial banks -5.7 -5.9 0.6 -3.7 -2.1 1.7 -1.1 11.5 9.7 12.5 13

14 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 14

15 Bank holding companies 16.6 10.7 14.3 5.2 6.2 -27.7 -2.5 2.3 8.8 10.3 15

16 Savings institutions 21.0 24.3 28.7 21.6 -15.0 -30.9 -44.7 -7.0 11.3 12.8 16

17 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 17

18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 18

19 Government-sponsored enterprises 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 19

20 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 20

21 ABS issuers 15.8 37.5 43.6 36.1 26.9 76.0 80.2 100.4 85.1 73.0 21

22 Finance companies 40.7 51.5 23.2 23.9 27.4 23.1 16.0 -3.1 -1.4 48.7 22

23 Mortgage companies 1.2 9.0 -11.2 0.0 10.1 -0.0 -2.4 8.0 0.0 -11.5 23

24 REITs 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 24

25 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 25

26 Funding corporations 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 26

27 Total net lending 1168.2 1183.8 1015.8 1045.3 922.6 907.7 663.2 822.2 930.5 1025.2 27

28 Domestic nonfederal nonfinancial sectors 264.3 96.0 227.8 246.1 155.2 230.6 156.3 68.6 31.7 231.7 28

29 Household sector 105.9 28.7 178.4 181.7 88.7 220.9 83.7 39.2 -18.0 262.2 29

30 Nonfinancial corporate business 16.9 -5.6 -0.8 19.0 32.2 -26.1 30.7 27.8 18.3 17.7 30

31 Nonfarm noncorporate business 4.9 2.7 -7.7 10.5 -11.1 -3.5 -5.3 -0.1 -1.2 6.8 31

32 State and local governments 136.6 70.2 57.8 34.9 45.5 39.3 47.2 1.7 32.6 -55.0 32

33 Federal government 17.8 9.7 -7.9 -9.5 -3.0 33.6 10.5 -11.9 -23.6 -15.2 33

34 Rest of the world 67.4 105.7 60.9 109.4 82.6 86.7 13.3 98.4 129.3 132.3 34

35 Financial sectors 818.7 972.4 735.0 699.3 687.8 556.8 483.1 667.2 793.0 676.3 35

36 Monetary authority 18.4 19.4 24.7 10.5 -7.3 8.1 31.1 27.9 36.2 31.5 36

37 Commercial banking 188.4 198.1 135.4 156.5 177.2 125.1 80.8 95.3 142.2 163.4 37

38 U.S.-chartered commercial banks 165.6 162.5 99.2 126.4 146.1 94.9 35.7 69.5 149.6 148.1 38

39 Foreign banking offices in U.S. 16.4 35.0 34.2 29.4 26.7 28.4 48.5 16.5 -9.8 11.2 39

40 Bank holding companies 3.7 -0.3 2.0 -0.1 2.8 -2.8 -1.5 5.6 -0.0 0.9 40

41 Banks in U.S.-affiliated areas 2.7 0.9 0.1 0.8 1.6 4.5 -1.9 3.7 2.4 3.3 41

42 Savings institutions 76.4 93.4 117.0 100.5 -98.5 -164.2 -158.9 -79.0 -23.3 6.7 42

43 Credit unions 13.4 15.5 17.5 17.5 7.1 10.6 12.8 17.7 21.7 28.1 43

44 Bank personal trusts and estates 9.7 18.5 12.5 13.9 19.7 15.9 10.0 8.0 9.5 7.1 44

45 Life insurance companies 76.5 87.9 88.6 103.1 100.1 107.2 80.8 79.5 100.4 72.0 45

46 Other insurance companies 24.9 39.4 39.6 28.8 28.8 26.4 30.0 6.7 27.7 24.9 46

47 Private pension funds 67.8 4.6 13.6 22.0 51.6 43.5 25.4 26.0 36.2 39.7 47

48 State and local govt. retirement funds 19.2 44.7 31.7 21.8 30.9 20.5 2.6 37.1 26.9 10.1 48

49 Federal government retirement funds 0.0 0.0 1.1 1.6 2.1 2.5 2.6 3.0 3.1 3.7 49

50 Money market mutual funds 14.0 34.9 1.9 10.5 68.3 77.5 32.7 4.7 20.4 30.0 50

51 Mutual funds 76.1 129.9 31.3 13.3 22.7 36.2 80.1 126.2 159.5 -7.1 51

52 Closed-end funds 1.4 2.9 4.0 17.9 6.6 1.3 12.8 20.2 20.0 -3.7 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 25.1 16.6 23.4 33.3 -4.3 14.0 15.0 69.3 88.5 121.2 54

55 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 55

56 ABS issuers 15.0 36.7 41.8 34.4 25.0 67.1 75.8 96.4 82.6 66.0 56

57 Finance companies 43.8 39.8 45.4 35.0 29.2 22.1 -18.3 0.4 -30.0 48.3 57

58 Mortgage companies 3.2 11.8 -12.7 5.2 20.1 -0.0 11.2 0.1 -0.0 -24.0 58

59 REITs 2.6 5.0 7.5 4.3 0.6 -1.8 -0.6 1.4 0.4 -0.7 59

60 Brokers and dealers 4.1 8.1 -35.0 -16.3 80.2 2.8 17.5 -1.3 14.8 -44.2 60

61 Funding corporations 60.0 0.9 8.3 9.7 3.6 -8.4 3.0 12.0 -28.4 -12.1 61

(1) Excludes corporate equities and mutual fund shares.
2 FFA, 1985-1994, Z.1, December 9, 2004

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Domestic 963.0 845.3 719.0 787.6 687.4 656.0 465.7 515.1 566.6 571.6 1

 2 Federal government 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 2

 3 Treasury securities 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 3

 4 Budget agency securities and mortgages -0.1 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 4

 5 Nonfederal, by instrument 737.3 629.3 575.1 632.5 541.0 409.1 187.5 211.1 310.5 415.8 5

 6 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 6

 7 Municipal securities and loans 208.2 59.9 91.6 59.3 52.9 49.3 87.8 23.3 66.3 -35.9 7

 8 Corporate bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 75.2 23.3 8

 9 Bank loans n.e.c. 42.7 57.3 13.4 40.3 28.2 4.3 -42.3 -12.0 6.4 75.2 9

10 Other loans and advances 40.6 52.1 39.6 49.5 52.9 58.6 -57.3 2.7 -27.1 36.3 10

11 Mortgages 264.0 286.4 317.8 321.9 264.8 225.1 147.6 111.7 118.2 160.7 11

12 Home 172.2 202.9 239.8 222.9 226.9 206.9 164.8 168.2 159.5 180.2 12

13 Multifamily residential 28.6 33.4 17.2 18.0 10.7 -1.6 -3.5 -13.1 -5.6 -2.7 13

14 Commercial 69.8 60.8 68.2 85.8 29.7 21.4 -13.9 -44.0 -36.5 -19.1 14

15 Farm -6.6 -10.7 -7.4 -4.8 -2.5 -1.6 0.3 0.5 0.8 2.3 15

16 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 134.8 16

17 Nonfederal, by sector 737.3 629.3 575.1 632.5 541.0 409.1 187.5 211.1 310.5 415.8 17

18 Household sector 307.2 259.6 262.6 270.4 283.8 234.3 186.5 201.3 236.6 323.1 18

19 Nonfinancial business 266.5 295.5 222.0 308.1 207.2 127.7 -84.4 -7.1 16.2 138.9 19

20 Corporate 181.8 224.9 163.4 222.9 159.9 133.8 -53.7 24.1 34.4 126.5 20

21 Nonfarm noncorporate 99.2 88.0 70.3 95.4 46.6 -7.2 -32.7 -31.7 -20.5 8.0 21

22 Farm -14.5 -17.4 -11.6 -10.2 0.6 1.0 2.0 0.5 2.3 4.4 22

23 State and local governments 163.6 74.2 90.4 54.0 50.1 47.2 85.4 16.9 57.7 -46.3 23

24 Foreign borrowing in U.S. 1.2 9.7 6.3 7.4 10.2 23.9 15.1 24.1 69.8 -11.2 24

25 Commercial paper 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 25

26 Bonds 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 26

27 Bank loans n.e.c. -2.8 -1.0 -3.6 -1.8 -0.1 -2.9 3.1 2.3 0.7 1.4 27

28 Other loans and advances -6.0 -3.9 -1.4 -6.4 -7.6 -7.0 -9.8 -0.6 -4.2 -1.4 28

29 Domestic and foreign 964.2 855.0 725.2 795.0 697.6 679.9 480.8 539.2 636.4 560.4 29

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument 204.0 328.8 290.6 250.2 225.0 227.8 182.4 283.0 294.1 464.8 1

 2 Open market paper 32.0 24.2 26.9 54.8 31.3 8.6 -32.3 -1.1 -5.5 40.5 2

 3 GSE issues 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 3

 4 Agency- and GSE-backed mortgage pool sec. 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 4

 5 Corporate bonds 56.5 92.3 78.6 52.2 40.8 71.1 98.4 127.1 122.8 118.2 5

 6 Bank loans n.e.c. -0.2 12.3 -8.3 2.7 13.5 4.0 7.3 0.7 -14.4 -13.7 6

 7 Other loans and advances 16.2 20.2 25.0 19.4 -10.5 -24.0 -37.3 -0.6 22.4 17.8 7

 8 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 8

 9 By sector 204.0 328.8 290.6 250.2 225.0 227.8 182.4 283.0 294.1 464.8 9

10 Commercial banking 12.4 7.6 21.5 2.0 5.2 -26.8 -13.2 10.0 13.4 20.1 10

11 U.S.-chartered commercial banks -5.7 -5.9 0.6 -3.7 -2.1 1.7 -1.1 11.5 9.7 12.5 11

12 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 12

13 Bank holding companies 16.6 10.7 14.3 5.2 6.2 -27.7 -2.5 2.3 8.8 10.3 13

14 Savings institutions 21.0 24.3 28.7 21.6 -15.0 -30.9 -44.7 -7.0 11.3 12.8 14

15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 15

16 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 16

17 Government-sponsored enterprises 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 17

18 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 18

19 ABS issuers 15.8 37.5 43.6 36.1 26.9 76.0 80.2 100.4 85.1 73.0 19

20 Finance companies 40.7 51.5 23.2 23.9 27.4 23.1 16.0 -3.1 -1.4 48.7 20

21 Mortgage companies 1.2 9.0 -11.2 0.0 10.1 -0.0 -2.4 8.0 0.0 -11.5 21

22 REITs 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 22

23 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 23

24 Funding corporations 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 24
FFA, 1985-1994, Z.1, December 9, 2004 3

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total 1168.2 1183.8 1015.8 1045.3 922.6 907.7 663.2 822.2 930.5 1025.2 1

 2 Open market paper 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 2

 3 Treasury securities 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 3

 4 Agency- and GSE-backed securities 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 4

 5 Municipal securities 208.2 59.9 91.6 59.3 52.9 49.3 87.8 23.3 66.3 -35.9 5

 6 Corporate and foreign bonds 143.4 222.5 164.7 162.2 119.5 139.6 192.2 211.5 280.9 156.4 6

 7 Bank loans n.e.c. 39.6 68.6 1.5 41.2 41.5 5.5 -31.8 -8.9 -7.2 62.9 7

 8 Other loans and advances 50.9 68.5 63.3 62.5 34.8 27.6 -104.3 1.5 -8.9 52.7 8

 9 Mortgages 264.0 286.7 318.1 322.2 265.1 225.7 148.1 112.2 121.8 170.5 9

10 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 134.8 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

11 Total net issues 15.1 83.4 -3.8 -108.2 -75.2 8.0 206.3 290.1 425.4 113.4 11

12 Corporate equities -71.4 -69.8 -64.0 -106.6 -102.6 -45.7 72.3 99.6 133.4 12.8 12

13 Nonfinancial -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 13

 Foreign shares purchased by

14 U.S. residents 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 14

15 Financial 9.4 14.0 13.6 21.8 4.4 9.9 23.4 40.2 48.7 9.6 15

16 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 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) 1168.2 1183.8 1015.8 1045.3 922.6 907.7 663.2 822.2 930.5 1025.2 1

 2 Official foreign exchange 3.0 -0.6 -9.7 4.0 24.8 2.0 -5.9 -1.6 0.8 -5.8 2

 3 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 3

 4 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 4

 5 Foreign deposits 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 5

 6 Net interbank transactions 29.7 31.2 45.4 2.0 -16.2 35.0 -3.4 49.4 50.5 89.8 6

 7 Checkable deposits and currency 83.8 124.4 3.9 42.7 6.4 43.6 86.3 113.5 117.3 -9.7 7

 8 Small time and savings deposits 141.5 130.0 77.1 122.9 98.9 63.9 1.6 -57.3 -70.3 -39.9 8

 9 Large time deposits 17.1 3.6 49.8 53.2 16.9 -66.1 -58.5 -73.2 -23.5 19.6 9

10 Money market fund shares 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 10

11 Security RPs 26.5 48.1 -11.4 23.7 77.8 -24.2 -16.4 43.2 71.3 78.2 11

12 Corporate equities -71.4 -69.8 -64.0 -106.6 -102.6 -45.7 72.3 99.6 133.4 12.8 12

13 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 13

14 Trade payables 83.2 33.6 83.1 97.7 76.8 54.0 52.9 68.4 78.6 120.0 14

15 Security credit 43.3 9.9 -27.4 3.0 15.6 3.5 51.4 4.6 61.4 -0.1 15

16 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 16

17 Pension fund reserves 286.4 191.1 161.9 217.1 244.0 208.0 232.0 223.4 254.7 248.7 17

18 Taxes payable 1.3 6.6 6.2 1.2 0.7 1.9 -5.9 10.6 8.9 3.2 18

19 Investment in bank personal trusts 11.2 16.9 16.3 0.9 19.3 32.9 17.5 -7.1 0.9 17.8 19

20 Noncorporate proprietors’ equity -43.2 -13.0 -31.1 -31.4 -41.8 22.4 32.6 40.6 49.0 37.5 20

21 Miscellaneous 517.2 224.1 365.9 498.2 600.5 188.7 319.2 352.4 420.4 335.6 21

22 Total financial sources 2413.5 2167.9 1801.1 2034.6 2123.5 1606.8 1614.9 1907.5 2415.1 2163.0 22

 - Liabilities not identified as assets:

23 Treasury currency -0.2 -0.0 -0.1 -0.1 -0.2 0.2 -0.6 -0.2 -0.2 -0.2 23

24 Foreign deposits 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 24

25 Net interbank liabilities 5.3 -2.8 -4.0 -3.0 -4.4 1.6 26.2 -4.9 4.2 -2.7 25

26 Security RPs -25.7 14.6 -15.7 0.2 9.0 -58.2 -33.4 3.0 53.2 73.5 26

27 Taxes payable 2.9 5.2 11.6 3.9 1.0 7.1 -1.4 10.2 17.3 14.5 27

28 Miscellaneous 162.7 -79.9 -75.9 26.1 104.2 -65.0 -26.3 55.6 -110.9 -158.5 28

 - Floats not included in assets:

29 Checkable deposits: Federal govt. 1.3 -0.6 -0.0 1.6 8.4 3.3 -13.1 0.7 -1.5 -4.8 29

30 Other 0.8 -8.9 0.4 0.8 -2.2 8.5 4.5 1.6 -1.3 -2.8 30

31 Trade credit 22.5 18.0 0.4 -21.4 14.2 4.5 55.3 30.1 22.2 19.2 31

 Totals identified to sectors

32 as assets 2238.1 2201.8 1872.3 2025.9 1955.1 1679.1 1627.6 1814.2 2437.9 2182.0 32
4 FFA, 1985-1994, Z.1, December 9, 2004

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross Domestic Product (GDP) 4220.3 4462.9 4739.5 5103.8 5484.3 5803.1 5995.9 6337.7 6657.5 7072.2 1

 2 Personal consumption expenditures (2) 2720.3 2899.8 3100.2 3353.6 3598.5 3840.0 3986.1 4235.3 4477.9 4743.3 2

 3 Durable goods 363.5 403.0 421.7 453.6 471.8 474.2 453.9 483.6 526.8 582.2 3

 4 Nondurable goods 928.7 958.5 1015.3 1083.5 1166.7 1249.9 1284.8 1330.5 1379.4 1437.2 4

 5 Services 1428.1 1538.3 1663.3 1816.6 1960.0 2115.9 2247.4 2421.2 2571.8 2723.9 5

 6 Gross private domestic investment 736.2 746.5 784.9 821.6 874.9 861.0 802.9 864.8 953.4 1097.1 6

 7 Fixed investment 714.4 740.0 757.8 803.1 847.2 846.4 803.3 848.5 932.6 1033.3 7

 8 Nonresidential 526.2 519.9 524.1 563.8 607.7 622.5 598.2 612.1 666.6 731.4 8

 9 Household sector (nonprofit organizations) 20.0 21.5 25.0 26.7 30.2 32.5 33.8 37.1 33.4 34.7 9

10 Nonfinancial corporate business 371.6 356.7 352.8 378.4 412.0 441.2 426.0 437.3 473.6 521.2 10

11 Nonfarm noncorporate business 73.5 75.0 77.7 82.7 80.8 66.8 65.9 66.1 78.9 72.6 11

12 Farm business 9.7 9.2 10.2 12.5 14.7 15.7 13.8 12.0 14.7 15.6 12

13 Financial corporations 51.4 57.4 58.5 63.6 70.0 66.2 58.8 59.6 65.9 87.3 13

14 Residential 188.2 220.1 233.7 239.3 239.5 224.0 205.1 236.4 266.0 301.9 14

15 Household sector 149.3 175.0 189.7 199.4 198.8 184.8 173.5 203.8 228.6 261.6 15

16 Nonfinancial corporate business 1.7 2.0 1.9 1.7 1.8 1.7 1.8 1.8 1.9 2.1 16

17 Nonfarm noncorporate business 37.0 43.0 42.0 38.1 38.8 37.3 29.6 28.1 30.3 30.9 17

18 REITs 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 18

19 Change in private inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 19

20 Nonfinancial corporate business 15.3 7.6 31.9 28.8 26.3 11.6 0.8 9.6 25.6 49.2 20

21 Nonfarm noncorporate business 0.8 0.4 1.7 1.5 1.4 0.6 0.0 0.5 1.3 2.6 21

22 Farm business 5.8 -1.5 -6.4 -11.9 -0.0 2.4 -1.3 6.2 -6.2 12.1 22

23 Net U.S. exports of goods and services -115.2 -132.7 -145.2 -110.4 -88.2 -78.0 -27.5 -33.3 -65.1 -93.6 23

24 Exports 302.0 320.6 363.9 444.1 503.3 552.4 596.8 635.3 655.8 720.9 24

25 - Imports 417.3 453.3 509.1 554.5 591.5 630.3 624.3 668.6 720.9 814.5 25

 Government consumption expenditures and

26 gross investment 879.0 949.3 999.5 1039.0 1099.1 1180.2 1234.4 1270.9 1291.2 1325.5 26

27 Consumption expenditures (3) 720.2 776.1 815.2 852.8 901.4 964.4 1014.1 1047.9 1072.2 1104.1 27

28 Federal 338.4 358.3 374.3 382.5 399.3 419.8 439.5 445.2 441.9 440.8 28

29 State and local 381.8 417.9 441.0 470.4 502.2 544.7 574.6 602.7 630.3 663.3 29

30 Gross investment (3) 158.8 173.2 184.3 186.2 197.7 215.7 220.3 223.1 219.0 221.3 30

31 Federal 74.4 80.4 85.8 79.9 83.0 88.5 88.3 88.8 83.3 78.3 31

32 State and local 84.4 92.8 98.5 106.3 114.7 127.2 132.1 134.3 135.7 143.0 32

 Memo:

33 Net U.S. income receipts from rest of the world 26.6 17.8 17.9 23.6 26.2 34.8 30.4 29.7 32.0 26.2 33

34 U.S. income receipts 112.5 111.4 123.2 152.1 177.7 189.1 168.9 152.7 156.3 186.4 34

35 - U.S. income payments 85.9 93.6 105.3 128.5 151.5 154.3 138.5 123.0 124.3 160.2 35

 Gross National Product (GNP) =

36 GDP + net U.S. income receipts 4246.8 4480.8 4757.3 5127.4 5510.5 5837.9 6026.3 6367.3 6689.4 7098.5 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, 1985-1994, Z.1, December 9, 2004 5

F.7 Distribution of National Income (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 National Income 3723.4 3902.3 4173.7 4549.5 4826.8 5089.3 5227.8 5512.7 5773.2 6122.2 1

 2 Compensation of employees 2424.7 2570.1 2750.3 2967.3 3145.3 3338.3 3445.2 3635.4 3801.4 3997.3 2

 3 Wages and other labor income 2277.1 2412.3 2584.1 2782.7 2951.6 3131.8 3230.1 3422.7 3555.1 3725.5 3

 4 Employer social insurance contributions 147.8 157.9 166.3 184.6 193.7 206.4 215.1 228.4 239.8 254.1 4

 5 Wage accruals less disbursements -0.2 0.0 0.0 0.0 0.0 0.1 -0.1 -15.8 6.4 17.6 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments 262.3 275.7 302.2 341.6 363.3 380.6 377.1 427.6 453.8 473.3 6

 7 Nonfarm 241.5 253.1 273.6 314.7 330.3 348.7 350.4 393.1 422.6 439.4 7

 8 Farm 20.8 22.6 28.7 26.8 33.0 31.9 26.8 34.5 31.2 34.0 8

 Rental income of persons (with capital

 9 consumption adjustment) 41.9 33.5 33.5 40.6 43.1 50.7 60.3 78.0 95.6 119.7 9

 Corporate profits with inventory

10 valuation and capital consumption adjustments 330.3 319.5 368.8 432.7 426.7 437.8 451.2 479.3 541.9 600.3 10

 Corporate profits with inventory

11 valuation adjustment 257.5 253.0 301.3 363.9 367.5 396.7 427.9 458.2 513.1 564.6 11

12 Profits before tax 257.5 246.0 317.5 386.1 383.8 409.6 423.0 461.1 517.1 577.1 12

13 Domestic nonfinancial 173.7 148.8 208.9 259.4 237.5 237.9 221.6 257.0 302.2 379.7 13

14 Farm -0.3 0.9 0.9 1.0 1.2 1.1 0.7 1.2 1.2 0.4 14

15 Foreign subsidiaries 38.1 39.5 47.9 57.0 67.1 76.1 76.5 73.1 76.8 77.1 15

16 Financial 45.9 56.7 59.8 68.7 78.0 94.5 124.2 129.8 136.9 119.9 16

 Less:

17 Taxes on corporate income 99.4 109.7 130.4 141.6 146.1 145.4 138.6 148.7 171.1 193.7 17

18 Domestic nonfinancial 70.9 75.9 93.9 103.6 100.7 98.0 88.2 94.0 107.5 132.4 18

19 Farm 0.2 0.4 0.4 0.4 0.5 0.5 0.4 0.4 0.5 0.5 19

20 Financial 28.4 33.4 36.2 37.7 44.9 47.0 50.0 54.3 63.0 60.9 20

 Equals:

21 Profits after tax 158.0 136.3 187.1 244.5 237.7 264.1 284.4 312.4 346.0 383.3 21

22 Net dividends 97.6 106.2 112.3 129.9 158.0 169.1 180.7 187.9 202.8 234.7 22

23 Domestic nonfinancial 71.6 72.4 76.0 81.3 104.7 117.4 124.7 133.0 148.3 156.9 23

24 Farm 0.4 0.5 0.2 0.8 0.7 0.8 0.8 1.2 0.7 1.0 24

25 Foreign subsidiaries 11.9 17.9 16.7 31.9 31.6 25.0 24.3 28.0 20.6 37.3 25

26 Financial 13.7 15.4 19.4 15.9 21.0 25.8 30.9 25.8 33.2 39.6 26

27 Undistributed profits 60.5 30.1 74.8 114.6 79.7 95.1 103.7 124.5 143.2 148.6 27

28 Domestic nonfinancial 31.3 0.6 39.0 74.5 32.1 22.5 8.7 30.1 46.3 90.4 28

29 Farm -0.9 0.1 0.3 -0.3 0.1 -0.2 -0.5 -0.4 -0.1 -1.1 29

30 Foreign subsidiaries 26.3 21.6 31.3 25.1 35.6 51.1 52.2 45.0 56.3 39.8 30

31 Financial 3.9 7.9 4.3 15.2 12.1 21.7 43.4 49.8 40.7 19.4 31

32 Inventory valuation adjustment 0.0 7.0 -16.3 -22.2 -16.3 -12.9 4.9 -2.9 -4.0 -12.5 32

33 Capital consumption adjustment 72.9 66.5 67.5 68.8 59.2 41.2 23.3 21.1 28.8 35.7 33

34 Domestic nonfinancial 72.2 64.9 65.9 67.5 60.4 48.1 34.3 33.7 39.6 47.5 34

35 Farm 0.6 0.4 0.3 0.4 0.2 0.1 -0.1 0.1 0.3 0.7 35

36 Financial 0.1 1.2 1.3 0.8 -1.4 -7.0 -11.0 -12.8 -11.0 -12.6 36

37 Net interest and miscellaneous payments 341.3 366.8 366.4 385.4 432.1 442.2 418.3 388.5 365.7 366.4 37

38 Taxes on production and imports 308.5 323.7 347.9 374.9 399.3 425.5 457.5 483.8 503.4 545.6 38

39 Less: Subsidies 21.3 24.8 30.2 29.4 27.2 26.8 27.3 29.9 36.4 32.2 39

40 Business current transfer payments (net) 34.8 36.6 33.8 34.0 39.2 39.4 39.9 42.5 40.6 43.3 40

41 Current surplus of government enterprises 0.8 1.3 1.2 2.6 4.9 1.6 5.7 7.6 7.2 8.6 41

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

42 National Income, from line 1 above 3723.4 3902.3 4173.7 4549.5 4826.8 5089.3 5227.8 5512.7 5773.2 6122.2 42

 Plus:

43 Private consumption of fixed capital 414.0 431.8 455.3 483.5 522.1 551.6 586.8 607.4 624.7 675.1 43

44 Government consumption of fixed capital 92.8 99.5 106.7 114.1 122.2 130.9 139.1 144.6 151.8 158.6 44

45 Statistical discrepancy 16.7 47.2 21.7 -19.7 39.5 66.1 72.6 102.8 139.8 142.5 45

 Less:

46 Net U.S. income receipts from rest of the world 26.6 17.8 17.9 23.6 26.2 34.8 30.4 29.7 32.0 26.2 46

 Equals:

47 Gross Domestic Product 4220.3 4462.9 4739.5 5103.8 5484.3 5803.1 5995.9 6337.7 6657.5 7072.2 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, 1985-1994, Z.1, December 9, 2004

F.8 Saving and Investment (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 767.4 733.4 796.8 915.1 944.8 940.6 964.0 948.1 962.3 1070.7 1

 2 Net saving 260.7 202.1 234.9 317.5 300.5 258.1 238.1 196.2 185.8 237.0 2

 3 Net private saving 413.4 372.0 367.4 434.1 409.8 422.7 456.0 493.0 458.4 438.9 3

 4 Personal saving 280.0 268.4 241.4 272.9 287.2 299.4 324.1 366.0 284.0 249.5 4

 5 Undistributed corporate profits w/IVA & CCA 133.4 103.7 126.1 161.1 122.6 123.3 131.9 142.7 168.0 171.8 5

 6 Undistributed profits 60.5 30.1 74.8 114.6 79.7 95.1 103.7 124.5 143.2 148.6 6

 7 Inventory valuation adjustment 0.0 7.0 -16.3 -22.2 -16.3 -12.9 4.9 -2.9 -4.0 -12.5 7

 8 Capital consumption adjustment 72.9 66.5 67.5 68.8 59.2 41.2 23.3 21.1 28.8 35.7 8

 9 Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -15.8 6.4 17.6 9

10 Net government saving -152.7 -169.9 -132.6 -116.5 -109.3 -164.6 -217.9 -296.8 -272.6 -201.9 10

11 Federal -175.0 -190.9 -145.0 -134.5 -130.1 -171.8 -213.7 -297.5 -273.5 -212.3 11

12 State and local 22.4 21.0 12.4 17.9 20.9 7.2 -4.2 0.7 0.9 10.4 12

13 Consumption of fixed captal 506.8 531.3 561.9 597.6 644.3 682.5 725.9 751.9 776.5 833.7 13

14 Private 414.0 431.8 455.3 483.5 522.1 551.6 586.8 607.4 624.7 675.1 14

15 Domestic business 353.0 366.9 385.8 409.0 440.6 466.5 497.4 510.5 524.6 568.0 15

16 Households and institutions 61.0 64.9 69.5 74.6 81.5 85.1 89.5 96.9 100.1 107.1 16

17 Government 92.8 99.5 106.7 114.1 122.2 130.9 139.1 144.6 151.8 158.6 17

18 Federal 48.1 51.6 55.2 59.3 63.5 67.9 72.2 74.7 78.0 80.2 18

19 State and local 44.7 47.9 51.4 54.8 58.8 63.1 66.9 69.9 73.8 78.5 19

 Gross domestic investment, capital account

20 transactions, and net lending, NIPAs 784.2 780.6 818.5 895.5 984.3 1006.7 1036.6 1050.9 1102.0 1213.3 20

21 Gross domestic investment 895.0 919.8 969.2 1007.7 1072.6 1076.7 1023.2 1087.8 1172.4 1318.4 21

22 Gross private domestic investment 736.2 746.5 784.9 821.6 874.9 861.0 802.9 864.8 953.4 1097.1 22

23 Fixed investment 714.4 740.0 757.8 803.1 847.2 846.4 803.3 848.5 932.6 1033.3 23

24 Nonresidential 526.2 519.9 524.1 563.8 607.7 622.5 598.2 612.1 666.6 731.4 24

25 Residential 188.2 220.1 233.7 239.3 239.5 224.0 205.1 236.4 266.0 301.9 25

26 Change in private inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 26

27 Gross government investment 158.8 173.2 184.3 186.2 197.7 215.7 220.3 223.1 219.0 221.3 27

28 Capital account transactions (net) -0.3 -0.3 -0.4 -0.5 -0.3 6.6 4.5 0.6 1.3 1.7 28

29 Net lending or net borrowing (-), NIPAs -110.5 -138.9 -150.4 -111.8 -88.0 -76.6 9.0 -37.5 -71.7 -106.9 29

30 Statistical discrepancy (line 20 less line 1) 16.7 47.2 21.7 -19.7 39.5 66.1 72.6 102.8 139.8 142.5 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) 8.9 10.0 10.6 11.1 12.2 8.5 10.5 15.7 17.0 19.1 1

 2 Federal -13.0 -13.0 -11.8 -12.0 -11.2 -16.5 -15.3 -11.2 -11.6 -10.8 2

 3 Estate and gift taxes paid by persons 6.4 7.0 7.2 7.6 8.9 11.6 11.0 11.3 12.9 15.1 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 0.2 7.2 5.1 0.1 0.7 1.1 5

 6 - Federal investment grants to state and local govts. 19.4 20.0 19.0 19.6 19.9 20.8 21.2 22.4 23.8 24.8 6

 7 - Investment grants to business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 State and local 22.0 23.0 22.3 23.1 23.4 25.0 25.8 26.9 28.6 29.9 8

 9 Estate and gift taxes paid by persons 2.6 3.0 3.4 3.5 3.5 4.2 4.6 4.5 4.7 5.1 9

10 + Federal investment grants to state and local govts. 19.4 20.0 19.0 19.6 19.9 20.8 21.2 22.4 23.8 24.8 10

11 Capital transfers received by rest of the world (net) 0.0 -0.3 -0.4 -0.5 -0.3 6.6 4.4 0.6 1.3 1.7 11

12 Capital transfers received from U.S. government (net) 0.0 0.0 0.0 0.0 0.2 7.2 5.1 0.1 0.7 1.1 12

13 - Migrants’ transfers received by persons (net) 0.0 0.3 0.4 0.5 0.5 0.6 0.7 -0.5 -0.6 -0.6 13

 Memo:

 Acquisition of nonproduced nonfinancial assets (net)

14 Nonfinancial corporate business -2.2 -0.7 -3.7 -4.2 -4.2 -5.0 -6.0 -6.2 -6.0 -6.4 14

15 State and local governments 3.1 3.7 4.1 4.3 4.9 5.7 5.8 5.9 5.8 6.2 15

16 Federal governments -1.2 -3.0 -0.4 -0.1 -0.7 -0.7 0.2 0.3 0.2 0.2 16

17 Rest of the world 0.3 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, 1985-1994, Z.1, December 9, 2004 7

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 592.4 578.1 470.7 565.4 495.1 539.4 442.1 438.0 425.1 491.7 1

 2 Foreign deposits 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 2

 3 Checkable deposits and currency 29.7 115.7 3.2 3.1 0.6 -9.8 51.6 114.9 49.6 -18.3 3

 4 Time and savings deposits 130.4 94.0 124.3 167.3 80.9 33.6 -68.6 -92.3 -105.2 -26.0 4

 5 Money market fund shares 2.3 38.8 21.1 17.5 76.9 27.8 9.9 -38.6 0.8 14.9 5

 6 Securities 53.0 56.2 86.3 71.0 3.4 185.9 130.5 194.1 137.5 166.9 6

 7 Open market paper -7.0 -4.4 2.3 34.4 -10.4 6.2 -29.9 -3.3 15.6 1.2 7

 8 U.S. savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 8

 9 Other Treasury securities 10.1 -14.6 18.0 70.3 32.5 86.3 12.9 68.6 36.9 168.7 9

10 Agency- and GSE-backed securities -8.4 1.6 4.6 17.1 18.2 14.6 -22.3 -40.7 -57.6 112.0 10

11 Municipal securities 95.5 6.7 99.6 58.0 24.1 27.6 40.0 -34.2 -41.0 -51.4 11

12 Corporate and foreign bonds 2.7 32.0 33.0 -7.7 9.0 69.3 68.7 36.2 23.0 37.5 12

13 Corporate equities (2) -118.4 -91.6 -140.3 -118.1 -104.6 -48.9 -50.8 18.6 -60.2 -153.0 13

14 Mutual fund shares 73.3 112.9 61.3 8.6 26.3 22.3 100.0 129.8 206.3 43.9 14

15 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 15

16 Pension fund reserves 286.4 191.1 161.9 217.1 244.0 208.0 232.0 223.4 254.7 248.7 16

17 Investment in bank personal trusts 11.2 16.9 16.3 0.9 19.3 32.9 17.5 -7.1 0.9 17.8 17

18 Miscellaneous and other assets 67.1 46.5 30.6 61.7 39.7 33.0 41.4 13.2 50.8 49.0 18

19 Gross investment in tangible assets 632.9 699.0 733.4 768.2 801.1 779.5 735.5 803.0 869.8 962.7 19

20 Residential fixed investment 186.4 217.9 231.6 237.5 237.6 222.1 203.1 232.0 259.0 292.5 20

21 Other fixed assets (3) 103.2 105.8 112.8 121.9 125.8 115.0 113.4 115.2 127.0 122.9 21

22 Consumer durables 336.8 376.4 393.6 419.2 436.4 439.4 420.3 449.1 488.6 532.6 22

23 Inventories (3) 6.6 -1.0 -4.7 -10.4 1.4 3.0 -1.2 6.8 -4.8 14.7 23

24 Consumption of fixed capital 397.8 431.1 465.7 495.4 534.0 563.4 589.8 598.9 629.7 669.6 24

25 Residential fixed investment 70.3 72.0 76.6 81.3 90.0 91.7 97.8 109.8 105.3 123.7 25

26 Other fixed assets (3) 75.0 81.7 86.1 91.5 96.4 102.6 103.4 97.5 107.1 104.8 26

27 Consumer durables 252.5 277.5 303.0 322.6 347.7 369.1 388.6 391.6 417.4 441.1 27

28 Net investment in tangible assets (4) 235.1 267.9 267.6 272.8 267.1 216.1 145.8 204.1 240.1 293.0 28

29 Residential fixed investment 116.1 146.0 155.0 156.1 147.6 130.4 105.3 122.2 153.7 168.8 29

30 Other fixed assets (3) 28.3 24.1 26.7 30.4 29.4 12.4 10.0 17.7 19.9 18.1 30

31 Consumer durables 84.2 98.9 90.6 96.6 88.7 70.3 31.7 57.5 71.3 91.4 31

32 Inventories (3) 6.6 -1.0 -4.7 -10.4 1.4 3.0 -1.2 6.8 -4.8 14.7 32

33 Net increase in liabilities 450.1 347.9 309.7 384.6 379.9 233.6 184.7 196.2 252.6 365.2 33

34 Mortgage debt on nonfarm homes 173.6 202.7 238.5 221.6 227.1 206.3 167.4 169.8 159.6 178.9 34

35 Other mortgage debt (3) 84.4 65.9 35.8 73.7 43.1 -0.3 -5.4 -20.2 -16.2 -20.3 35

36 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 134.8 36

37 Policy loans -0.1 -0.1 -0.0 -0.0 3.2 4.1 4.8 5.7 5.6 7.8 37

38 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 38

39 Other liabilities (3) 89.4 16.9 19.5 41.0 60.5 12.2 10.5 33.3 19.5 65.1 39

40 Net capital transfers (5) -8.9 -9.7 -10.2 -10.6 -11.9 -15.2 -14.9 -16.3 -18.2 -20.8 40

41 Personal saving, with consumer durables (FOF) 386.4 507.8 438.8 464.2 394.3 536.9 418.0 462.2 430.9 440.4 41

42 Less net investment in consumer durables 84.2 98.9 90.6 96.6 88.7 70.3 31.7 57.5 71.3 91.4 42

43 = Personal saving, without consumer durables (FOF) (6) 302.1 409.0 348.1 367.6 305.6 466.6 386.3 404.7 359.6 348.9 43

44 Personal saving (NIPA, excludes consumer durables) 280.0 268.4 241.4 272.9 287.2 299.4 324.1 366.0 284.0 249.5 44

45 Difference 22.1 140.6 106.8 94.7 18.5 167.2 62.3 38.7 75.6 99.4 45

 Memo:

46 Disposable personal income 3109.3 3285.1 3458.3 3748.7 4021.7 4285.8 4464.3 4751.4 4911.9 5151.9 46

 Personal saving as a percentage of disposable personal income:

47 With consumer durables (FOF) (line 41) 12.4 15.5 12.7 12.4 9.8 12.5 9.4 9.7 8.8 8.5 47

48 Without consumer durables (FOF) (line 43) 9.7 12.4 10.1 9.8 7.6 10.9 8.7 8.5 7.3 6.8 48

49 Without consumer durables (NIPA) (line 44) 9.0 8.2 7.0 7.3 7.1 7.0 7.3 7.7 5.8 4.8 49

50 Difference (line 45) 0.7 4.3 3.1 2.5 0.5 3.9 1.4 0.8 1.5 1.9 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, 1985-1994, Z.1, December 9, 2004

F.100 Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Personal income 3526.7 3722.4 3947.4 4253.7 4587.8 4878.6 5051.0 5362.0 5558.6 5842.5 1

 2 - Personal current taxes 417.4 437.3 489.1 505.0 566.1 592.8 586.7 610.6 646.6 690.7 2

 3 = Disposable personal income 3109.3 3285.1 3458.3 3748.7 4021.7 4285.8 4464.3 4751.4 4911.9 5151.9 3

 4 - Personal outlays 2829.3 3016.7 3216.9 3475.8 3734.5 3986.4 4140.2 4385.4 4628.0 4902.4 4

 5 = Personal saving, NIPA (2) 280.0 268.4 241.4 272.9 287.2 299.4 324.1 366.0 284.0 249.5 5

 6 + Government insurance and pension reserves (3) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 6

 7 + Net investment in consumer durables 84.2 98.9 90.6 96.6 88.7 70.3 31.7 57.5 71.3 91.4 7

 8 + Consumption of fixed capital 313.7 342.6 372.6 397.2 429.1 454.3 478.3 488.5 517.5 548.2 8

 9 + Net capital transfers (4) -8.9 -9.7 -10.2 -10.6 -11.9 -15.2 -14.9 -16.3 -18.2 -20.8 9

10 = Gross saving and net capital transfers 671.3 703.1 696.3 758.3 795.2 810.6 821.6 898.1 856.2 869.9 10

11 Gross investment 691.5 840.2 800.6 850.6 811.3 976.2 882.0 934.7 929.9 968.1 11

12 Capital expenditures 506.1 572.9 608.3 645.3 665.4 656.7 627.6 690.0 750.7 828.9 12

13 Residential 149.3 175.0 189.7 199.4 198.8 184.8 173.5 203.8 228.6 261.6 13

14 Consumer durable goods 336.8 376.4 393.6 419.2 436.4 439.4 420.3 449.1 488.6 532.6 14

15 Nonprofit nonresidential 20.0 21.5 25.0 26.7 30.2 32.5 33.8 37.1 33.4 34.7 15

16 Net financial investment 185.5 267.3 192.3 205.3 145.9 319.6 254.5 244.6 179.2 139.2 16

17 Net acquisition of financial assets 514.8 534.6 444.5 480.3 445.7 559.6 465.9 450.3 444.9 467.0 17

18 Foreign deposits 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 18

19 Checkable deposits and currency 17.6 112.4 2.7 -1.8 -0.5 -12.0 49.2 108.5 45.2 -30.7 19

20 Time and savings deposits 124.9 92.3 126.3 160.7 79.5 30.9 -70.9 -99.2 -108.6 -29.6 20

21 Money market fund shares 2.3 38.6 21.2 15.3 76.4 26.9 9.1 -40.9 -0.3 10.7 21

22 Credit market instruments 105.9 28.7 178.4 181.7 88.7 220.9 83.7 39.2 -18.0 262.2 22

23 Open market paper -7.0 -4.4 2.3 34.4 -10.4 6.2 -29.9 -3.3 15.6 1.2 23

24 Treasury securities 15.1 -3.0 26.7 78.2 39.1 94.2 25.0 87.0 50.9 172.0 24

25 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 25

26 Other 9.8 -16.6 19.0 69.8 30.9 85.7 13.1 67.9 36.2 164.0 26

27 Agency- and GSE-backed securities -8.4 1.6 4.6 17.1 18.2 14.6 -22.3 -40.7 -57.6 112.0 27

28 Municipal securities 95.5 6.7 99.6 58.0 24.1 27.6 40.0 -34.2 -42.5 -51.5 28

29 Corporate and foreign bonds 2.7 32.0 33.0 -7.7 9.0 69.3 68.7 36.2 23.0 37.5 29

30 Mortgages 8.2 -4.1 12.2 1.7 8.6 8.9 2.2 -5.8 -7.4 -8.9 30

31 Corporate equities (5) -118.4 -91.6 -140.3 -118.1 -104.6 -48.9 -50.8 18.6 -60.2 -153.0 31

32 Mutual fund shares 73.3 112.9 61.3 8.6 26.3 22.3 100.0 129.8 206.3 43.9 32

33 Security credit 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 33

34 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 34

35 Pension fund reserves 286.4 191.1 161.9 217.1 244.0 208.0 232.0 223.4 254.7 248.7 35

36 Investment in bank personal trusts 11.2 16.9 16.3 0.9 19.3 32.9 17.5 -7.1 0.9 17.8 36

37 Equity in noncorporate business -43.2 -13.0 -31.1 -31.4 -41.8 22.4 32.6 40.6 49.0 37.5 37

38 Miscellaneous assets 28.9 18.3 26.8 18.6 15.6 18.9 10.9 17.9 13.9 14.1 38

39 Net increase in liabilities 329.3 267.3 252.2 275.0 299.8 240.0 211.4 205.6 265.7 327.8 39

40 Credit market instruments 307.2 259.6 262.6 270.4 283.8 234.3 186.5 201.3 236.6 323.1 40

41 Home mortgages (6) 175.0 197.4 220.4 214.3 225.5 201.4 175.7 174.0 157.4 169.3 41

42 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 134.8 42

43 Municipal securities 30.2 -3.0 -0.3 1.8 3.5 3.3 4.0 2.0 1.4 3.6 43

44 Bank loans n.e.c. 9.0 -0.0 0.9 -1.9 -9.6 -2.6 -4.8 4.5 9.8 13.4 44

45 Other loans and advances 6.9 4.3 3.3 3.8 3.6 7.3 7.4 6.2 -1.1 9.4 45

46 Commercial mortgages 2.2 5.2 6.1 5.8 13.8 9.7 12.9 5.4 7.7 -7.4 46

47 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 47

48 Trade payables 3.1 2.3 4.7 2.4 16.2 9.3 9.4 5.9 6.0 5.2 48

 Deferred and unpaid

49 life insurance premiums 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 49

50 Discrepancy -20.2 -137.1 -104.4 -92.4 -16.1 -165.6 -60.4 -36.6 -73.7 -98.2 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, 1985-1994, Z.1, December 9, 2004 9

F.101 Nonfinancial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Income before taxes 469.0 452.8 537.3 626.5 625.9 647.4 632.6 727.0 802.3 905.2 1

 2 Gross saving and net capital transfers 459.4 437.1 478.7 523.6 516.9 535.4 550.8 568.0 612.3 676.2 2

 3 Gross investment 302.3 395.5 430.7 408.9 374.3 499.1 548.3 537.3 722.3 720.6 3

 4 Capital expenditures 513.2 491.7 507.9 527.6 571.6 572.2 530.6 555.5 614.2 699.8 4

 5 Fixed investment 493.6 485.8 484.4 513.3 548.1 562.7 537.0 545.3 599.4 642.4 5

 6 Residential 38.7 44.9 43.8 39.8 40.6 39.0 31.4 29.9 32.2 33.0 6

 7 Nonresidential 454.8 440.9 440.6 473.5 507.5 523.8 505.6 515.4 567.2 609.4 7

 8 Change in inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 8

 9 Nonproduced nonfinancial assets -2.2 -0.7 -3.7 -4.2 -4.2 -5.0 -6.0 -6.2 -6.0 -6.4 9

10 Net financial investment -210.8 -96.2 -77.2 -118.7 -197.3 -73.1 17.7 -18.2 108.1 20.8 10

11 Net acquisition of financial assets 246.3 160.2 223.9 403.0 190.1 127.2 90.2 174.2 361.0 338.4 11

12 Foreign deposits 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 12

13 Checkable deposits and currency 35.1 4.8 10.0 18.8 10.1 8.2 9.3 2.1 24.8 24.2 13

14 Time and savings deposits 5.7 17.9 -1.5 2.9 -0.3 -3.4 5.2 5.4 19.4 8.0 14

15 Money market fund shares -1.5 0.5 0.8 -3.3 0.5 10.2 5.2 15.8 -2.5 7.4 15

16 Security RPs -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 16

17 Credit market instruments 21.8 -2.9 -8.5 29.4 21.1 -29.6 25.4 27.7 17.1 24.5 17

18 Commercial paper 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 18

19 Treasury securities 4.9 1.2 -9.5 -3.3 25.1 -13.2 5.5 17.9 -11.1 6.7 19

20 Agency- and GSE-backed securities -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 20

21 Municipal securities 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 10.4 2.1 21

22 Mortgages 10.2 -6.2 -5.4 26.6 -26.4 -5.7 1.2 0.2 -11.1 6.0 22

23 Consumer credit 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 16.1 9.4 23

24 Mutual fund shares 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 24

25 Trade receivables 49.7 10.2 65.3 102.6 48.9 31.9 -6.9 34.7 46.4 88.2 25

26 Miscellaneous assets 129.6 121.1 165.1 248.4 120.3 111.5 48.4 80.7 252.8 183.2 26

27 Net increase in liabilities 457.1 256.4 301.1 521.8 387.4 200.3 72.5 192.4 252.9 317.6 27

28 Credit market instruments 266.5 295.5 222.0 308.1 207.2 127.7 -84.4 -7.1 16.2 138.9 28

29 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 29

30 Municipal securities 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 30

31 Corporate bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 75.2 23.3 31

32 Bank loans n.e.c. 33.7 57.3 12.6 42.1 37.8 6.9 -37.5 -16.5 -3.3 61.8 32

33 Other loans and advances 25.5 46.4 38.6 49.0 49.5 50.3 -65.0 -3.4 -25.4 26.8 33

34 Mortgages 86.9 83.8 91.3 101.8 25.5 14.0 -41.0 -67.8 -46.8 -1.2 34

35 Corporate equities -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 35

36 Trade payables 45.8 -2.9 48.5 57.0 27.8 30.1 23.0 40.6 38.1 84.7 36

37 Taxes payable 0.3 5.4 5.7 -0.6 -1.4 0.6 -8.9 7.1 3.6 1.0 37

38 Miscellaneous liabilities 272.4 57.6 130.7 318.3 318.1 81.7 92.4 84.4 125.5 99.2 38

39 Proprietors’ net investment -43.3 -14.2 -30.3 -31.5 -40.0 23.1 32.1 40.5 48.1 38.6 39

40 Discrepancy 157.1 41.7 48.0 114.7 142.6 36.2 2.4 30.7 -109.9 -44.4 40

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
10 FFA, 1985-1994, Z.1, December 9, 2004

F.102 Nonfarm Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Profits before tax (book) 173.7 148.8 208.9 259.4 237.5 237.9 221.6 257.0 302.2 379.7 1

 2 - Taxes on corporate income 70.9 75.9 93.9 103.6 100.7 98.0 88.2 94.0 107.5 132.4 2

 3 - Net dividends 71.6 72.4 76.0 81.3 104.7 117.4 124.7 133.0 148.3 156.9 3

 4 + Capital consumption allowance (1) 318.2 318.9 330.9 347.7 360.5 365.7 374.1 385.7 401.3 437.4 4

 5 = U.S. internal funds, book 349.4 319.5 370.0 422.2 392.6 388.2 382.8 415.8 447.6 527.8 5

 6 + Foreign earnings retained abroad 26.3 21.6 31.3 25.1 35.6 51.1 52.2 45.0 56.3 39.8 6

 7 + Inventory valuation adjustment (IVA) 0.0 7.0 -16.3 -22.2 -16.3 -12.9 4.9 -2.9 -4.0 -12.5 7

 8 + Net capital transfers (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 = Total internal funds + IVA 375.7 348.1 385.0 425.2 411.8 426.4 439.9 457.9 499.9 555.2 9

10 Gross investment 218.7 306.4 337.0 310.5 269.2 390.2 437.5 427.2 609.8 599.6 10

11 Capital expenditures 386.3 365.6 382.8 404.7 435.8 449.4 422.6 442.5 495.1 566.1 11

12 Fixed investment (3) 373.3 358.6 354.6 380.1 413.8 442.9 427.7 439.1 475.5 523.2 12

13 Inventory change + IVA 15.3 7.6 31.9 28.8 26.3 11.6 0.8 9.6 25.6 49.2 13

14 Nonproduced nonfinancial assets -2.2 -0.7 -3.7 -4.2 -4.2 -5.0 -6.0 -6.2 -6.0 -6.4 14

15 Net financial investment -167.7 -59.1 -45.8 -94.2 -166.7 -59.2 14.8 -15.3 114.8 33.5 15

16 Net acquisition of financial assets 212.0 130.9 228.1 349.5 180.7 124.3 81.9 146.0 332.7 275.1 16

17 Foreign deposits 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 17

18 Checkable deposits and currency 23.0 1.5 9.5 14.0 9.1 6.1 6.9 -4.3 20.5 11.7 18

19 Time and savings deposits 0.2 16.2 0.4 -3.7 -1.7 -6.0 3.0 -1.6 16.0 4.4 19

20 Money market fund shares -1.5 0.4 0.9 -5.5 0.0 9.3 4.5 13.5 -3.7 3.2 20

21 Security RPs -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 21

22 Commercial paper 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 22

23 Treasury securities 4.6 -0.8 -8.5 -3.9 23.5 -13.8 5.8 17.2 -11.8 2.0 23

24 Agency- and GSE-backed securities -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 24

25 Municipal securities 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 8.9 2.0 25

26 Mortgages 5.6 -6.9 1.4 16.6 -13.7 -1.6 6.2 1.1 -7.8 4.1 26

27 Consumer credit 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 16.1 9.4 27

28 Trade receivables 45.2 2.1 63.9 90.6 42.1 29.2 -5.8 27.6 41.5 71.9 28

29 Mutual fund shares 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 29

30 Miscellaneous assets 122.4 107.6 161.4 231.0 109.5 113.5 39.1 75.2 237.1 163.3 30

31 U.S. direct investment abroad (4) 14.3 19.0 29.7 12.9 25.7 35.0 35.9 41.2 57.9 78.5 31

32 Insurance receivables 4.2 18.8 23.4 15.0 14.2 13.2 2.1 13.5 6.6 5.7 32

33 Equity in GSEs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

34 Investment in finance co. subs. 4.7 2.1 -6.2 -3.3 -0.4 9.5 -2.1 1.0 0.6 3.1 34

35 Other 99.3 67.7 114.5 206.4 70.0 55.8 3.3 19.5 171.9 76.0 35

36 Net increase in liabilities 379.7 190.0 273.9 443.7 347.4 183.5 67.1 161.3 217.9 241.6 36

37 Net funds raised in markets 97.3 139.9 87.9 93.4 35.8 70.8 -35.4 51.1 55.7 81.6 37

38 Net new equity issues -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 38

39 Credit market instruments 181.8 224.9 163.4 222.9 159.9 133.8 -53.7 24.1 34.4 126.5 39

40 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 40

41 Municipal securities (5) 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 41

42 Corporate bonds (4) 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 75.2 23.3 42

43 Bank loans n.e.c. 31.9 57.0 4.0 32.8 24.9 2.7 -37.8 -19.3 -8.0 46.2 43

44 Other loans and advances 23.4 42.2 36.4 48.4 46.1 55.5 -60.8 0.8 -24.2 26.7 44

45 Savings institutions 4.3 5.2 0.5 1.7 -0.9 -6.3 -5.3 -5.0 -0.8 -0.3 45

46 Finance companies 16.4 14.0 30.8 25.8 21.1 15.6 -3.9 1.0 -14.3 23.3 46

47 U.S. government -2.6 1.5 0.1 -1.0 -0.4 -0.8 -0.8 -0.1 0.2 -0.1 47

48 Acceptance liabilities to banks -2.1 -0.2 4.4 0.0 3.2 -6.6 -5.9 -2.9 -3.3 -2.1 48

49 Rest of the world 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 49

50 ABS issuers 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 50

51 Mortgages 6.1 17.8 43.5 26.5 -5.4 19.1 -14.4 -38.0 -25.2 2.1 51

52 Trade payables 43.0 -1.7 44.4 53.7 21.8 28.4 23.1 33.4 36.4 77.3 52

53 Taxes payable -3.2 3.8 5.1 -3.5 -6.1 0.0 -9.4 6.5 5.4 -0.4 53

54 Miscellaneous liabilities 242.6 48.0 136.6 300.1 295.9 84.3 88.8 70.4 120.4 83.1 54

55 Foreign direct investment in U.S. 17.5 31.9 52.5 69.8 62.4 59.1 -1.3 7.1 20.2 45.2 55

56 Pension fund contributions payable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 56

57 Other 219.2 16.1 82.6 231.5 226.2 19.1 78.1 53.4 87.8 26.2 57

58 Discrepancy 157.1 41.7 48.0 114.7 142.6 36.2 2.4 30.7 -109.9 -44.4 58

 Memo:

59 Financing gap (6) 36.9 39.1 29.1 4.6 59.6 74.1 34.9 29.6 51.5 50.7 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, 1985-1994, Z.1, December 9, 2004 11

F.103 Nonfarm Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net income with IVA and CCAdj 274.4 281.3 299.7 340.3 355.4 377.6 384.2 435.5 468.9 491.6 1

 2 Gross saving = capital consumption 67.6 72.6 77.6 82.9 89.1 93.1 95.1 94.1 96.1 105.0 2

 3 Gross investment 67.6 72.6 77.6 82.9 89.1 93.1 95.1 94.1 96.1 105.0 3

 4 Capital expenditures 111.4 118.4 121.3 122.3 121.0 104.7 95.5 94.8 110.6 106.1 4

 5 Fixed investment (1) 110.6 118.0 119.6 120.8 119.6 104.1 95.5 94.3 109.3 103.5 5

 6 Change in inventories 0.8 0.4 1.7 1.5 1.4 0.6 0.0 0.5 1.3 2.6 6

 7 Net financial investment -43.8 -45.8 -43.7 -39.4 -31.9 -11.7 -0.4 -0.6 -14.5 -1.1 7

 8 Net acquisition of financial assets 30.7 25.0 -6.0 50.3 7.3 0.4 6.1 24.4 24.7 61.5 8

 9 Checkable deposits and currency 11.5 2.2 0.7 4.3 0.9 1.8 1.5 4.6 2.3 12.0 9

10 Time and savings deposits 5.5 1.7 -1.9 6.6 1.4 2.7 2.2 7.0 3.4 3.6 10

11 Money market mutual funds 0.0 0.1 -0.1 2.2 0.5 0.9 0.7 2.3 1.1 4.2 11

12 Treasury securities 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 0.6 4.7 12

13 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.1 13

14 Mortgages 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 14

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

16 Trade receivables 4.5 8.0 1.4 12.0 6.8 2.7 -1.1 7.1 4.9 16.3 16

17 Miscellaneous assets 4.2 10.2 1.7 14.7 8.8 -4.1 8.1 3.5 14.2 18.6 17

18 Insurance receivables 4.8 5.4 -5.9 0.0 4.3 -4.8 3.8 -2.5 0.8 1.4 18

19 Equity investment in GSEs (2) -0.0 -0.1 -0.0 0.0 0.1 -0.1 0.0 -0.0 0.2 0.2 19

20 Other -0.5 4.9 7.6 14.6 4.4 0.8 4.2 6.0 13.2 17.0 20

21 Net increase in liabilities 74.5 70.8 37.7 89.7 39.2 12.1 6.5 25.0 39.3 62.6 21

22 Credit market instruments 99.2 88.0 70.3 95.4 46.6 -7.2 -32.7 -31.7 -20.5 8.0 22

23 Bank loans n.e.c. 6.2 4.6 10.7 8.6 11.9 2.1 -1.4 2.7 2.5 13.8 23

24 Other loans and advances 5.7 6.7 4.2 6.8 1.3 -5.7 -4.3 -4.0 -0.6 -0.1 24

25 Mortgages 87.4 76.7 55.3 80.0 33.4 -3.5 -27.0 -30.3 -22.4 -5.6 25

26 Trade payables 5.4 1.7 5.4 2.4 5.5 1.3 -0.3 6.9 0.7 6.5 26

27 Taxes payable 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 27

28 Miscellaneous liabilities 29.8 9.6 -5.8 18.2 22.2 -2.6 3.6 14.0 5.1 16.1 28

29 Proprietors’ net investment -63.3 -30.1 -32.7 -29.3 -39.8 20.0 35.4 35.1 55.7 30.6 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 20.8 22.6 28.7 26.8 33.0 31.9 26.8 34.5 31.2 34.0 1

 2 Net saving (corporate) -0.3 0.5 0.6 0.2 0.2 -0.1 -0.6 -0.3 0.2 -0.3 2

 3 Consumption of fixed capital 16.5 16.0 15.5 15.3 15.8 16.1 16.3 16.3 16.2 16.4 3

 4 Corporate 1.4 1.4 1.4 1.5 1.5 1.5 1.6 1.7 1.7 1.7 4

 5 Noncorporate 15.0 14.6 14.1 13.9 14.3 14.5 14.7 14.6 14.5 14.6 5

 6 Gross saving 16.1 16.5 16.1 15.5 16.0 15.9 15.7 16.0 16.4 16.0 6

 7 Gross investment 16.1 16.5 16.1 15.5 16.0 15.9 15.7 16.0 16.4 16.0 7

 8 Capital expenditures 15.5 7.8 3.7 0.6 14.7 18.1 12.5 18.2 8.5 27.7 8

 9 Fixed investment (2) 9.7 9.2 10.2 12.5 14.7 15.7 13.8 12.0 14.7 15.6 9

10 Change in inventories 5.8 -1.5 -6.4 -11.9 -0.0 2.4 -1.3 6.2 -6.2 12.1 10

11 Net financial investment 0.6 8.7 12.3 14.9 1.3 -2.2 3.2 -2.3 7.9 -11.7 11

12 Net acquisition of financial assets 3.6 4.3 1.8 3.3 2.2 2.5 2.2 3.8 3.6 1.8 12

13 Checkable deposits and currency 0.7 1.1 -0.2 0.5 0.1 0.4 1.0 1.8 2.1 0.4 13

14 Miscellaneous assets 2.9 3.2 2.0 2.8 2.1 2.0 1.3 2.0 1.5 1.3 14

15 Insurance receivables 3.2 3.8 2.5 2.8 2.9 2.2 1.1 2.1 1.4 1.3 15

16 Equity investment in GSEs (3) -0.3 -0.6 -0.5 0.1 -0.9 -0.2 0.2 -0.1 0.1 0.0 16

17 Net increase in liabilities 2.9 -4.4 -10.5 -11.6 0.9 4.6 -1.0 6.1 -4.3 13.4 17

18 Credit market instruments -14.5 -17.4 -11.6 -10.2 0.6 1.0 2.0 0.5 2.3 4.4 18

19 Bank loans n.e.c. -4.4 -4.3 -2.2 0.8 1.0 2.1 1.7 0.1 2.1 1.9 19

20 Other loans and advances -3.5 -2.5 -2.0 -6.2 2.1 0.5 0.0 -0.2 -0.6 0.2 20

21 Mortgages -6.6 -10.7 -7.4 -4.8 -2.5 -1.6 0.3 0.5 0.8 2.3 21

22 Trade payables -2.6 -2.9 -1.2 0.8 0.5 0.5 0.2 0.2 1.0 1.0 22

23 Proprietors’ net investment 20.0 16.0 2.4 -2.3 -0.2 3.1 -3.2 5.4 -7.6 8.0 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, 1985-1994, Z.1, December 9, 2004

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 521.2 561.7 590.5 635.6 687.4 737.8 789.1 845.7 886.9 942.8 1

 2 Personal current taxes 81.4 87.2 96.6 102.1 114.6 122.6 125.3 135.3 141.1 148.0 2

 3 Taxes on production and imports 262.1 279.7 301.6 324.6 349.1 374.1 395.3 420.1 436.8 466.3 3

 4 Taxes on corporate income 20.3 22.7 23.9 26.1 24.3 22.5 23.6 24.4 26.9 30.0 4

 5 Contributions for govt. social insurance 4.9 6.0 7.2 8.4 9.0 10.0 11.6 13.1 14.1 14.5 5

 6 Income receipts on assets 54.9 58.4 58.2 60.6 65.7 68.5 67.9 64.8 61.3 63.2 6

 7 Current transfer receipts 94.5 105.0 100.0 109.0 118.2 133.4 158.2 180.3 197.7 211.9 7

 8 Current surplus of government enterprises 3.2 2.8 3.1 4.9 6.5 6.7 7.1 7.7 9.0 9.0 8

 9 Current expenditures, NIPA basis 498.8 540.7 578.2 617.7 666.5 730.6 793.3 845.0 886.0 932.4 9

10 Consumption expenditures 381.8 417.9 441.0 470.4 502.2 544.7 574.6 602.7 630.3 663.3 10

11 Govt. social benefit payments to persons 77.3 84.3 90.7 98.5 109.3 127.7 156.5 180.0 195.2 206.7 11

12 Interest payments 39.4 38.2 46.2 48.4 54.6 57.9 61.8 61.9 60.2 62.0 12

13 Subsidies 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.3 13

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

15 Net state and local govt. saving, NIPA basis 22.4 21.0 12.4 17.9 20.9 7.2 -4.2 0.7 0.9 10.4 15

16 + Consumption of fixed capital 44.7 47.9 51.4 54.8 58.8 63.1 66.9 69.9 73.8 78.5 16

17 + Net capital transfers (2) 22.0 23.0 22.3 23.1 23.4 25.0 25.8 26.9 28.6 29.9 17

18 = Gross saving and net capital transfers 89.0 91.9 86.1 95.8 103.0 95.2 88.5 97.5 103.2 118.8 18

19 Gross investment 82.0 87.1 76.3 79.6 117.4 111.9 90.3 107.1 76.9 175.2 19

20 Fixed investment 84.4 92.8 98.5 106.3 114.7 127.2 132.1 134.3 135.7 143.0 20

21 Nonproduced nonfinancial assets 3.1 3.7 4.1 4.3 4.9 5.7 5.8 5.9 5.8 6.2 21

22 Net financial investment -5.5 -9.5 -26.3 -31.0 -2.2 -21.1 -47.5 -33.1 -64.7 26.0 22

23 Net acq. of financial assets 179.4 85.5 84.8 43.9 70.0 49.4 59.9 6.7 18.5 7.4 23

24 Checkable deposits and currency 1.1 2.5 -0.7 3.0 0.4 -1.3 6.5 1.2 2.0 1.8 24

25 Time and savings deposits 7.0 2.4 7.1 -2.0 -2.8 -3.0 -11.1 -6.1 -1.5 6.5 25

26 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 26

27 Security RPs 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 27

28 Credit market instruments 136.6 70.2 57.8 34.9 45.5 39.3 47.2 1.7 32.6 -55.0 28

29 Open market paper 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 29

30 Treasury securities 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 30

31 Agency- and GSE-backed securities 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 31

32 Municipal securities 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 32

33 Corporate and foreign bonds 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 33

34 Mortgages 9.8 11.8 8.7 4.0 6.3 5.3 3.5 -0.0 -5.4 2.2 34

35 Corporate equities 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 35

36 Mutual fund shares 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 36

37 Trade receivables 3.8 0.9 3.8 4.8 3.5 2.4 2.4 3.1 3.6 5.4 37

38 Taxes receivable 4.0 2.7 0.5 3.7 3.5 -0.5 2.1 0.3 -5.6 -5.4 38

39 Miscellaneous assets 6.0 1.7 3.9 -0.5 1.4 1.5 3.3 -3.7 -30.9 55.4 39

40 Net increase in liabilities 184.9 94.9 111.1 74.9 72.2 70.4 107.4 39.8 83.2 -18.6 40

41 Credit market instruments 163.6 74.2 90.4 54.0 50.1 47.2 85.4 16.9 57.7 -46.3 41

42 Municipal securities 155.4 72.8 92.8 57.3 50.3 46.3 85.0 17.0 58.3 -46.4 42

43 Short-term 2.2 -0.1 -0.8 2.0 3.3 2.9 6.9 -1.1 1.8 -2.2 43

44 Other 153.2 72.9 93.6 55.3 47.0 43.3 78.1 18.1 56.5 -44.2 44

45 U.S. government loans 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.6 0.1 45

46 Trade payables 21.3 20.7 20.7 20.8 22.1 23.3 22.1 22.9 25.5 27.7 46

47 Discrepancy 7.0 4.8 9.8 16.2 -14.4 -16.7 -1.8 -9.6 26.4 -56.5 47

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

(2) Table F.9, line 8.
FFA, 1985-1994, Z.1, December 9, 2004 13

F.106 Federal Government

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 773.2 815.2 896.6 958.2 1037.4 1081.7 1101.3 1147.1 1222.5 1320.9 1

 2 Personal current taxes 336.0 350.1 392.5 402.9 451.5 470.2 461.3 475.3 505.5 542.7 2

 3 Taxes on production and imports 46.4 44.0 46.3 50.3 50.2 51.4 62.2 63.7 66.7 79.4 3

 4 Taxes on corporate income 76.3 83.8 103.2 111.1 117.2 118.2 109.9 118.8 138.5 156.7 4

 5 Taxes from the rest of the world 1.9 1.7 2.1 2.4 2.8 3.0 2.6 2.7 2.7 3.2 5

 6 Contributions for govt. social insurance 276.5 297.5 315.9 353.1 376.3 400.1 418.6 441.8 463.6 493.7 6

 7 Income receipts on assets 29.1 31.4 28.0 30.0 28.6 30.3 30.1 25.7 26.2 23.4 7

 8 Current transfer receipts 9.4 8.2 10.7 10.8 12.4 13.6 17.9 19.4 21.1 22.3 8

 9 Current surplus of government enterprises -2.4 -1.5 -2.0 -2.3 -1.6 -5.1 -1.4 -0.1 -1.8 -0.4 9

10 Current expenditures, NIPA basis 948.3 1006.0 1041.6 1092.6 1167.5 1253.5 1315.0 1444.6 1496.0 1533.1 10

11 Consumption expenditures 338.4 358.3 374.3 382.5 399.3 419.8 439.5 445.2 441.9 440.8 11

12 Government social benefits 326.6 345.3 358.2 379.1 412.2 447.2 494.2 551.7 582.4 607.6 12

13 Other current transfer payments 92.7 99.9 94.7 102.8 109.8 122.8 103.5 167.0 182.3 191.6 13

14 Interest payments 169.4 178.2 184.6 199.3 219.4 237.5 251.0 251.3 253.4 261.3 14

15 Subsidies 20.9 24.5 29.9 29.0 26.8 26.4 26.9 29.5 36.0 31.8 15

16 - Wage accruals less disbursements -0.2 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 0.0 0.0 16

17 Net federal government saving, NIPA basis -175.0 -190.9 -145.0 -134.5 -130.1 -171.8 -213.7 -297.5 -273.5 -212.3 17

18 + Consumption of fixed capital 48.1 51.6 55.2 59.3 63.5 67.9 72.2 74.7 78.0 80.2 18

19 - Insurance and pension reserves (1) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 19

20 + Net capital transfers (2) -13.0 -13.0 -11.8 -12.0 -11.2 -16.5 -15.3 -11.2 -11.6 -10.8 20

21 = Gross saving and net capital transfers -142.2 -155.3 -103.3 -89.3 -79.9 -122.2 -159.3 -236.3 -208.9 -144.5 21

22 Gross investment -172.9 -181.4 -106.1 -132.0 -118.6 -106.1 -178.0 -274.0 -226.0 -166.6 22

23 Fixed investment 74.4 80.4 85.8 79.9 83.0 88.5 88.3 88.8 83.3 78.3 23

24 Nonproduced nonfinancial assets -1.2 -3.0 -0.4 -0.1 -0.7 -0.7 0.2 0.3 0.2 0.2 24

25 Net financial investment -246.2 -258.8 -191.6 -211.8 -200.8 -193.9 -266.5 -363.0 -309.6 -245.1 25

26 Net acq. of financial assets 32.2 6.4 -17.6 -4.6 10.1 67.2 60.3 -22.5 -10.8 -46.1 26

27 Gold, SDRs, and official foreign exchange 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 27

28 Checkable deposits and currency 13.0 0.4 -8.1 9.0 -14.2 4.8 27.4 -16.9 20.7 -21.7 28

29 Time and savings deposits 0.0 0.2 0.2 -0.2 -0.1 0.1 0.1 -0.7 -0.1 -0.1 29

30 Credit market instruments 17.8 9.7 -7.9 -9.5 -3.0 33.6 10.5 -11.9 -23.6 -15.2 30

31 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 31

32 Other loans and advances 15.9 9.2 -2.6 -8.4 -2.3 -1.9 -4.9 -0.0 -8.5 -7.5 32

33 Mortgages 1.8 0.5 -5.3 -1.1 -0.7 35.6 15.4 -11.9 -15.4 -14.0 33

34 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.3 34

35 Trade receivables 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 35

36 Taxes receivable -5.6 -1.4 -5.9 -6.4 -3.8 -4.7 -6.6 0.0 -2.7 -5.9 36

37 Miscellaneous assets 1.4 0.5 1.3 1.0 15.4 34.3 36.1 15.4 -3.8 3.2 37

38 Net increase in liabilities 278.4 265.1 173.9 207.2 210.9 261.1 326.8 340.5 298.7 198.9 38

39 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 39

40 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 40

41 Credit market instruments 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 41

42 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 42

43 Other Treasury securities 220.5 202.1 134.6 129.2 136.6 230.3 280.1 284.6 233.7 147.7 43

44 Budget agency securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 44

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

46 Trade payables 10.6 14.6 7.5 8.0 8.6 -5.7 -5.3 -2.8 3.0 -0.4 46

47 Insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 47

48 Miscellaneous liabilities (4) 40.5 32.7 20.9 42.4 50.7 16.3 52.7 39.7 37.8 41.5 48

49 Nonmarketable securities held by pension plans 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 49

50 Other 0.6 3.2 -9.4 9.6 16.2 -17.1 14.3 -0.1 0.7 3.9 50

51 Discrepancy 30.7 26.1 2.8 42.7 38.6 -16.1 18.8 37.7 17.1 22.1 51

 Memo:

52 Change in cash balance (5) 14.4 -0.0 -7.9 10.4 -5.9 8.3 14.5 -16.9 19.2 -26.7 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, 1985-1994, Z.1, December 9, 2004

F.107 Rest of the World

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Foreign income from U.S. 525.3 571.2 637.9 708.4 769.3 811.5 752.3 825.0 882.5 1012.5 1

 2 U.S. imports 417.3 453.3 509.1 554.5 591.5 630.3 624.3 668.6 720.9 814.5 2

 3 U.S. income payments to rest of world 85.9 93.6 105.3 128.5 151.5 154.3 138.5 123.0 124.3 160.2 3

 4 Current taxes and trans. payments to rest of world 22.2 24.3 23.5 25.5 26.4 26.9 -10.6 33.4 37.3 37.8 4

 5 Foreign outlays to U.S. 414.5 432.0 487.1 596.2 681.0 741.5 765.7 788.0 812.1 907.3 5

 6 U.S. exports 302.0 320.6 363.9 444.1 503.3 552.4 596.8 635.3 655.8 720.9 6

 7 U.S. income receipts from rest of world 112.5 111.4 123.2 152.1 177.7 189.1 168.9 152.7 156.3 186.4 7

 8 Net capital transfers (1) 0.0 -0.3 -0.4 -0.5 -0.3 6.6 4.4 0.6 1.3 1.7 8

 9 Gross saving and net capital transfers (2) 110.8 138.9 150.4 111.8 88.1 76.6 -9.0 37.5 71.7 106.8 9

10 Gross investment 102.0 118.6 169.7 140.4 49.9 53.8 41.9 95.7 80.2 125.3 10

11 Nonproduced nonfinancial assets 0.3 0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 -0.0 -0.0 11

12 Net financial investment 101.7 118.6 169.7 140.4 49.9 53.8 41.9 95.7 80.2 125.3 12

13 Net acquisition of financial assets 124.3 170.3 214.6 191.5 195.1 157.6 90.6 212.3 320.2 299.7 13

14 Gold and SDRs (3) -0.9 -0.2 -0.5 0.1 -0.5 -0.2 -0.2 2.3 -0.5 -0.4 14

15 Net interbank assets 16.6 15.7 54.7 5.9 -7.2 25.6 -19.9 50.3 45.6 92.7 15

16 U.S. checkable deposits and currency 6.7 6.8 4.1 5.1 6.0 18.5 14.0 15.0 18.7 25.3 16

17 U.S. time deposits 3.2 -2.5 0.9 3.4 4.7 -0.7 -0.2 -4.1 6.8 1.5 17

18 Security RPs 0.8 3.4 2.2 -0.1 10.1 -3.4 1.2 20.9 16.9 -12.0 18

19 Credit market instruments 67.4 105.7 60.9 109.4 82.6 86.7 13.3 98.4 129.3 132.3 19

20 Open market paper -0.2 -0.1 1.0 2.8 2.4 -2.0 0.6 1.6 5.9 6.0 20

21 Treasury securities 19.6 38.2 35.6 62.0 29.8 27.0 33.7 55.6 73.3 65.0 21

22 Official -0.8 34.4 43.2 41.7 0.1 29.6 14.8 18.5 49.0 30.8 22

23 Private 20.4 3.8 -7.6 20.2 29.6 -2.5 18.8 37.1 24.4 34.3 23

24 Agency- and GSE-backed securities 4.3 7.0 5.0 6.7 15.1 6.3 10.2 18.3 35.4 21.7 24

25 Official -0.3 -1.2 1.6 1.3 1.4 0.7 1.3 3.9 4.1 6.1 25

26 Private 4.6 8.2 3.5 5.4 13.7 5.6 8.9 14.3 31.3 15.6 26

27 U.S. corporate bonds (4) 36.3 39.1 18.8 15.9 13.0 5.3 16.2 18.1 30.4 38.0 27

28 Loans to U.S. corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 28

29 U.S. corporate equities 4.4 17.9 15.0 -2.9 9.0 -16.0 10.4 -5.6 20.9 0.9 29

30 Trade receivables 0.5 1.0 0.2 3.1 2.4 6.2 0.8 3.0 4.5 1.8 30

31 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Miscellaneous assets 25.6 22.6 77.1 67.5 88.2 40.8 71.3 32.2 78.0 57.6 32

33 Foreign direct investment in U.S. (5) 19.7 35.4 58.5 57.7 68.3 48.5 23.2 19.8 51.4 46.1 33

34 Other 5.9 -12.9 18.6 9.7 19.9 -7.7 48.1 12.3 26.6 11.5 34

35 Net increase in liabilities 22.7 51.7 44.9 51.1 145.3 103.8 48.7 116.6 240.0 174.4 35

 U.S. official foreign exchange

36 and net IMF position 3.0 -0.6 -9.7 4.0 24.8 2.0 -5.9 -1.6 0.8 -5.8 36

37 U.S. private deposits 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 37

38 Credit market instruments 1.2 9.7 6.3 7.4 10.2 23.9 15.1 24.1 69.8 -11.2 38

39 Commercial paper 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 39

40 Bonds 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 40

41 Bank loans n.e.c. -2.8 -1.0 -3.6 -1.8 -0.1 -2.9 3.1 2.3 0.7 1.4 41

42 Official -1.4 -0.0 -0.9 -0.5 -1.4 -0.5 -0.4 1.0 -1.0 -0.2 42

43 Banks -1.3 1.0 -2.9 0.0 0.7 -2.7 1.0 0.7 1.2 0.0 43

44 Other -0.1 -2.1 0.2 -1.3 0.5 0.4 2.5 0.6 0.5 1.6 44

45 U.S. government loans 1.4 1.5 -2.3 -4.0 -2.3 -3.8 -5.4 0.2 -1.1 -1.1 45

46 Acceptance liabilities to banks -7.4 -5.4 1.0 -2.4 -5.3 -3.2 -4.4 -0.7 -3.1 -0.3 46

47 Foreign corporate equities (6) 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 47

48 Trade payables -0.2 -0.8 2.5 7.7 2.8 -1.2 3.0 1.2 3.4 3.6 48

49 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Miscellaneous liabilities 7.9 14.6 39.3 16.2 61.2 43.9 32.3 64.0 121.1 86.8 50

51 U.S. equity in IBRD, etc. 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 51

52 U.S. government deposits -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 52

53 U.S. direct investment abroad (4,5) 14.8 19.1 31.2 17.2 38.5 32.1 36.9 45.7 84.0 80.2 53

54 Other -8.3 -5.0 6.8 -2.0 21.7 10.3 -7.1 16.8 35.7 5.1 54

55 Discrepancy (FOF basis) (7) 8.8 20.3 -19.3 -28.7 38.1 22.8 -50.9 -58.2 -8.5 -18.5 55

 Memo:

56 Net U.S. exports, NIPA basis -115.2 -132.7 -145.2 -110.4 -88.2 -78.0 -27.5 -33.3 -65.1 -93.6 56

57 + Net U.S. income receipts (8) 26.6 17.8 17.9 23.6 26.2 34.8 30.4 29.7 32.0 26.2 57

58 - Current taxes and trans. payments to rest of world 22.2 24.3 23.5 25.5 26.4 26.9 -10.6 33.4 37.3 37.8 58

59 = Balance on current account, NIPAs -110.8 -139.2 -150.8 -112.3 -88.4 -70.0 13.5 -37.0 -70.4 -105.2 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, 1985-1994, Z.1, December 9, 2004 15

F.108 Monetary Authority (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving -1.5 -2.3 -2.0 0.2 -1.5 -2.2 -0.5 1.0 0.2 -2.4 1

 2 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.2 2

 3 Net acquisition of financial assets 24.9 31.9 10.8 18.5 11.2 26.8 22.3 17.1 42.1 28.2 3

 4 Gold and foreign exchange 2.0 0.4 -3.8 2.5 12.6 1.3 -3.2 -2.2 0.4 -2.6 4

 5 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 5

 6 Treasury currency 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 6

 7 Federal Reserve float 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 7

 8 Fed. Res. loans to domestic banks -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 8

 9 Security RPs 3.2 10.8 -14.7 5.5 -4.7 16.2 -2.5 -7.8 5.1 -2.6 9

10 Credit market instruments 18.4 19.4 24.7 10.5 -7.3 8.1 31.1 27.9 36.2 31.5 10

11 Acceptances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Treasury securities 18.6 19.8 24.9 11.1 -6.9 8.3 31.4 28.5 37.0 32.5 12

13 Agency- and GSE-backed securities -0.2 -0.4 -0.3 -0.6 -0.4 -0.2 -0.3 -0.6 -0.8 -1.0 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 1.0 1.7 2.2 0.4 8.2 -2.0 -2.3 -2.2 2.6 2.6 15

16 Net increase in liabilities 24.8 31.8 10.6 18.4 11.1 26.6 22.1 16.7 41.8 28.0 16

17 Depository institution reserves 6.8 19.5 -6.3 -2.4 -3.8 3.1 -9.2 2.7 2.9 -4.2 17

18 Vault cash of commercial banks 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 18

19 Checkable deposits and currency 16.6 12.4 16.7 18.1 9.5 25.2 29.2 17.6 37.1 25.3 19

20 Due to federal government 4.1 -1.9 -2.3 3.3 -2.4 2.8 8.8 -10.3 7.2 -7.7 20

21 Due to rest of the world 0.1 -0.2 -0.1 0.1 0.2 -0.2 0.6 -0.7 0.2 -0.1 21

22 Currency outside banks 12.4 14.4 19.0 14.7 11.7 22.6 19.8 28.7 29.8 33.1 22

23 Miscellaneous liabilities 0.1 -0.1 1.0 0.0 4.2 -5.6 1.1 -1.8 1.0 1.4 23

24 Federal Reserve Bank stock 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 24

25 Other -0.1 -0.2 0.8 -0.0 4.1 -5.8 0.9 -2.2 0.6 1.1 25

26 Discrepancy -1.8 -2.6 -2.4 -0.0 -1.8 -2.6 -1.0 0.4 -0.4 -2.9 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, 1985-1994, Z.1, December 9, 2004

F.109 Commercial Banking (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 22.1 24.8 27.0 26.5 32.6 19.6 29.3 43.8 42.0 33.5 1

 2 Fixed nonresidential investment 17.4 17.7 18.8 21.7 23.0 16.8 16.4 21.9 15.8 16.3 2

 3 Net acquisition of financial assets 249.2 247.9 170.9 177.7 279.2 106.1 102.9 181.2 236.9 231.3 3

 4 Vault cash 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 4

 5 Reserves at Federal Reserve 5.1 17.8 -5.6 -2.8 -3.0 4.2 -8.8 2.5 2.5 -3.5 5

 6 Checkable deposits and currency 0.4 -0.1 -0.8 -0.6 -0.4 -0.1 -0.8 -0.5 -0.3 0.4 6

 7 Total bank credit 208.9 197.9 124.6 158.3 183.3 130.1 105.1 115.2 162.6 156.8 7

 8 Treasury securities 7.9 8.3 -3.3 -9.1 -20.0 6.8 60.4 61.9 27.8 -31.8 8

 9 Agency- and GSE-backed securities -1.4 37.6 29.4 30.8 55.2 54.3 50.9 42.8 44.7 5.5 9

10 Municipal securities 57.1 -28.4 -29.1 -22.7 -17.8 -16.4 -14.2 -5.7 1.7 -1.6 10

11 Corporate and foreign bonds 9.2 22.2 24.8 10.9 4.3 4.6 7.6 -1.6 3.5 4.3 11

12 Total loans 136.0 158.1 102.9 148.4 161.9 83.6 -3.1 18.5 83.6 183.7 12

13 Open market paper -2.9 -1.1 2.6 -1.2 -0.2 2.8 -2.0 -1.4 -1.9 -1.5 13

14 Bank loans n.e.c. 39.6 68.6 1.5 41.2 41.5 5.5 -31.8 -8.9 -7.2 62.9 14

15 Mortgages 49.9 73.5 90.1 82.1 93.8 78.6 31.9 19.2 47.3 64.9 15

16 Consumer credit 38.4 23.0 13.9 26.7 22.5 -1.3 -11.8 -7.3 32.8 63.1 16

17 Security credit 11.0 -5.8 -5.3 -0.5 4.3 -2.0 10.6 16.9 12.7 -5.7 17

18 Corporate equities 0.1 0.0 -0.1 -0.0 -0.1 -2.5 1.7 -0.4 0.9 -1.4 18

19 Mutual fund shares 0.0 0.0 0.0 0.0 -0.1 -0.3 1.8 -0.4 0.5 -1.9 19

20 Customers’ liab. on acceptances (2) -9.5 -5.6 5.4 -2.3 -2.1 -9.8 -10.2 -3.6 -6.4 -2.4 20

21 Miscellaneous assets 42.9 37.8 48.1 22.3 100.2 -22.1 16.5 69.3 77.6 74.4 21

22 Net increase in liabilities 248.7 244.0 178.9 208.6 260.0 104.7 113.3 184.8 241.1 255.1 22

23 Net interbank liabilities 21.5 11.7 52.5 1.7 -13.5 28.0 4.8 48.4 46.9 88.5 23

24 To monetary authority -0.4 -1.2 1.8 -1.2 -1.9 0.8 -1.5 3.0 -2.9 -1.5 24

25 To domestic banks (3) 5.3 -2.8 -4.0 -3.0 -4.4 1.6 26.2 -4.9 4.2 -2.7 25

26 To foreign banks 16.6 15.7 54.7 5.9 -7.2 25.6 -19.9 50.3 45.6 92.7 26

27 Checkable deposits 54.2 94.5 -19.7 17.1 -3.4 21.7 37.6 92.8 74.1 -31.7 27

28 Federal government 10.3 1.7 -5.8 7.3 -3.4 5.3 5.5 -5.9 12.1 -18.9 28

29 Rest of the world 1.4 2.9 -1.3 -0.6 -0.1 -0.1 -2.0 2.3 -0.4 2.0 29

30 Private domestic 42.6 90.0 -12.6 10.4 0.1 16.5 34.1 96.4 62.4 -14.8 30

31 Small time and savings deposits 81.8 74.3 27.9 74.0 100.7 123.0 78.8 2.7 -12.0 -1.0 31

32 Large time deposits 11.0 1.5 41.4 41.8 28.9 -22.1 -24.0 -66.8 -21.1 21.3 32

33 Federal funds and security RPs (net) 31.3 19.2 10.2 20.8 37.9 -25.7 -19.2 18.3 41.6 78.1 33

34 Credit market instruments 12.4 7.6 21.5 2.0 5.2 -26.8 -13.2 10.0 13.4 20.1 34

35 Open market paper -7.1 -9.1 7.1 -2.9 0.1 -24.0 -20.1 -7.7 -2.5 3.1 35

36 Corporate bonds 18.9 16.1 13.5 5.1 4.7 -4.8 4.2 14.5 7.2 7.7 36

37 Other loans and advances 0.7 0.6 1.0 -0.2 0.4 2.0 2.7 3.2 8.6 9.3 37

38 Corporate equity issues 1.4 1.4 1.5 2.5 1.5 9.0 15.7 20.2 7.3 -3.3 38

39 Taxes payable 0.1 -0.0 0.1 0.2 0.2 -0.2 -0.0 0.2 0.5 0.7 39

40 Miscellaneous liabilities 35.0 34.0 43.7 48.6 102.5 -2.3 32.9 59.0 90.4 82.4 40

41 Discrepancy 4.2 3.3 16.3 35.8 -9.6 1.4 23.3 25.6 30.4 41.0 41

 Memo:

42 Credit market funds advanced (4) 188.4 198.1 135.4 156.5 177.2 125.1 80.8 95.3 142.2 163.4 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, 1985-1994, Z.1, December 9, 2004 17

F.110 U.S.-Chartered Commercial Banks

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 12.5 17.2 20.1 16.8 21.5 7.8 17.4 33.1 24.0 7.1 1

 2 Fixed nonresidential investment 15.6 15.8 16.8 19.3 20.3 14.9 14.5 19.0 13.2 13.3 2

 3 Net acquisition of financial assets 191.4 175.8 91.1 127.8 160.4 99.0 33.0 73.7 157.1 153.9 3

 4 Vault cash and reserves at Federal Reserve 5.7 17.3 -6.0 1.0 -1.8 8.0 -7.5 1.1 3.0 2.0 4

 5 Total bank credit 183.4 163.8 97.0 129.0 155.2 90.8 46.0 71.9 157.5 140.5 5

 6 Treasury securities 7.5 5.9 -3.1 -9.4 -20.3 1.7 50.3 46.6 20.6 -27.0 6

 7 Agency- and GSE-backed securities -2.9 36.5 27.9 29.3 54.2 52.8 46.3 38.9 36.2 1.8 7

 8 Mortgage pass-through securities -2.4 25.7 22.3 14.8 36.5 21.5 9.0 1.8 17.6 9.1 8

 9 CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 23.3 34.6 33.3 11.1 -14.4 9

10 Other -0.4 10.8 5.6 14.4 17.7 8.0 2.7 3.8 7.5 7.1 10

11 Municipal securities 57.2 -28.4 -29.1 -22.7 -17.8 -16.4 -14.1 -5.7 1.9 -2.0 11

12 Corporate and foreign bonds 2.3 18.4 20.7 12.3 2.4 3.6 4.3 -3.2 0.1 -0.6 12

13 Private mortgage pass-through securities -0.0 3.3 0.1 -0.7 0.4 -0.3 0.3 0.3 0.9 -1.1 13

14 Private CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -6.6 -1.8 1.7 14

15 Other 2.3 15.0 20.6 13.0 2.0 3.9 3.6 3.1 1.0 -1.2 15

16 Total loans 119.3 131.5 80.6 119.6 136.9 51.9 -44.3 -4.1 97.3 171.5 16

17 Open market paper -3.2 -1.0 1.5 -0.7 -0.6 0.8 -1.0 -1.6 -1.0 -1.3 17

18 Bank loans n.e.c. 27.8 45.0 -16.2 20.5 25.8 -4.5 -56.2 -19.4 8.8 46.2 18

19 Mortgages 49.6 70.4 84.7 73.4 84.9 62.4 22.5 21.1 52.6 68.1 19

20 Consumer credit 38.4 23.0 13.9 26.7 22.5 -1.3 -11.8 -7.3 32.8 63.1 20

21 Security credit 6.8 -5.9 -3.2 -0.4 4.2 -5.4 2.2 3.1 4.1 -4.6 21

22 Corporate equities 0.0 0.0 0.0 0.0 -0.1 -2.5 1.7 -0.4 0.9 -1.4 22

23 Mutual fund shares 0.0 0.0 0.0 0.0 -0.1 -0.3 1.8 -0.4 0.5 -1.9 23

24 Customers’ liab. on acceptances (1) -11.1 -7.3 -1.0 -3.1 -5.2 -4.1 -4.6 -0.1 -2.4 -0.2 24

25 Miscellaneous assets 13.4 1.9 1.1 0.8 12.2 4.3 -0.9 0.8 -0.9 11.7 25

26 Net increase in liabilities 199.3 178.3 104.8 166.6 149.9 107.2 52.6 85.0 175.7 199.4 26

27 Net interbank liabilities 8.4 -4.7 32.3 1.3 -21.2 8.4 7.9 12.8 29.1 79.0 27

28 Federal Reserve float 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 28

29 Borrowing from Federal Reserve banks -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 29

30 To domestic banking -1.7 -0.9 2.2 0.1 -14.0 -9.9 17.9 14.6 13.3 5.6 30

31 To foreign banks 10.5 -2.6 28.3 2.4 -5.4 17.4 -8.6 -4.8 18.7 74.8 31

32 Checkable deposits 51.8 93.2 -19.1 15.8 -3.5 22.0 37.6 92.8 73.8 -32.2 32

33 Federal government 10.3 1.7 -5.8 7.3 -3.4 5.3 5.5 -5.9 12.1 -18.9 33

34 Rest of the world 0.0 2.7 -1.5 -0.6 0.1 -0.4 -2.2 1.7 -0.3 1.6 34

35 Private domestic 41.5 88.8 -11.8 9.1 -0.2 17.1 34.3 96.9 62.0 -14.9 35

36 Small time and savings deposits 80.3 71.6 27.4 73.1 96.5 121.9 79.9 2.0 -10.9 -0.6 36

37 Large time deposits 10.8 -6.6 37.7 35.2 24.0 -20.5 -73.1 -76.2 -20.0 17.9 37

38 Federal funds and security RPs (net) 26.8 10.8 11.9 16.3 35.6 -33.7 -27.0 17.5 45.5 71.6 38

39 Acceptance liabilities -10.9 -8.7 -1.0 -3.3 -5.3 -4.4 -4.7 -0.1 -2.5 -0.3 39

40 Corporate bonds 4.5 2.2 0.7 -0.3 2.8 4.2 0.9 8.4 3.6 3.4 40

41 Other loans and advances 0.7 0.6 1.0 -0.2 0.4 2.0 2.7 3.2 8.6 9.3 41

42 Corporate equity issues 1.4 1.4 1.5 2.5 1.5 2.1 0.9 4.3 1.9 1.8 42

43 Taxes payable 0.1 -0.0 0.1 0.2 0.2 -0.2 -0.0 0.2 0.5 0.7 43

44 Miscellaneous liabilities 25.3 18.6 12.6 25.9 19.0 5.4 27.6 20.1 46.2 48.8 44

45 Investment by bank holding companies 15.6 16.7 19.8 21.3 8.6 5.4 19.4 27.8 31.6 17.5 45

46 Other 9.7 1.8 -7.2 4.6 10.4 0.0 8.2 -7.6 14.6 31.3 46

47 Discrepancy 4.7 3.9 16.8 36.3 -9.3 1.2 22.4 25.5 29.3 39.3 47

 Memo:

48 Credit market funds advanced (2) 165.6 162.5 99.2 126.4 146.1 94.9 35.7 69.5 149.6 148.1 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, 1985-1994, Z.1, December 9, 2004

F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.8 0.9 0.9 1.1 1.3 1.1 1.4 1.7 2.5 3.1 1

 2 Fixed nonresidential investment 1.5 1.5 1.6 2.1 2.4 1.7 1.7 2.6 2.2 2.7 2

 3 Net acquisition of financial assets 22.7 42.2 49.2 30.2 93.1 7.6 71.0 64.4 32.9 47.5 3

 4 Reserves at Federal Reserve 0.7 0.6 -0.4 -1.1 -0.0 0.2 -0.3 -0.3 0.3 -0.0 4

 5 Total bank credit 19.1 33.4 25.5 28.6 23.8 37.6 62.5 34.0 2.8 12.1 5

 6 Treasury securities -0.0 2.1 -0.4 0.1 -0.2 5.0 9.4 8.7 6.5 -3.5 6

 7 Agency- and GSE-backed securities 0.5 1.5 1.2 1.1 0.3 1.9 4.0 2.9 7.4 1.5 7

 8 Municipal securities -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Corporate and foreign bonds 3.5 5.0 3.0 -0.7 1.1 2.9 3.7 1.0 1.4 5.1 9

10 Total loans 15.1 24.8 21.7 28.1 22.6 27.7 45.4 21.3 -12.5 9.0 10

11 Open market paper 0.3 -0.2 1.2 -0.5 0.4 2.0 -1.0 0.2 -0.9 -0.2 11

12 Bank loans n.e.c. 10.5 21.9 17.4 20.5 14.0 6.9 29.3 9.9 -13.7 15.1 12

13 Mortgages 0.1 2.9 5.2 8.1 8.1 15.3 8.8 -2.7 -6.5 -4.8 13

14 Security credit 4.2 0.1 -2.1 -0.1 0.1 3.4 8.4 13.9 8.6 -1.2 14

15 Corporate equities 0.1 0.0 -0.1 -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 15

16 Customers’ liab. on acceptances (2) 1.6 1.7 6.5 0.7 3.1 -5.7 -5.6 -3.6 -4.0 -2.1 16

17 Miscellaneous assets 1.2 6.5 17.6 2.0 66.3 -24.4 14.3 34.3 33.8 37.5 17

18 Net increase in liabilities 23.0 42.6 49.6 30.9 93.9 8.6 72.1 65.7 34.3 49.1 18

19 Net interbank liabilities 11.6 15.8 15.0 4.0 4.7 8.2 1.8 32.3 16.9 11.2 19

20 To foreign banks 6.6 17.0 22.9 1.8 -3.7 7.8 -5.6 49.3 29.2 25.8 20

21 To domestic banks 5.0 -1.2 -7.9 2.3 8.4 0.4 7.5 -17.0 -12.3 -14.6 21

22 Checkable deposits 2.1 0.9 -0.6 1.0 -0.3 0.4 0.2 -0.6 0.0 0.4 22

23 Small time and savings deposits 1.1 2.2 0.6 0.5 3.7 -1.0 -0.1 0.2 -0.8 -1.1 23

24 Large time deposits -0.2 7.6 3.8 6.3 4.4 -3.7 50.1 9.0 -0.8 2.6 24

25 Federal funds and security RPs (net) 4.5 8.4 -1.7 4.5 2.3 8.4 8.8 0.7 -4.3 6.7 25

26 Acceptance liabilities 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 26

27 Miscellaneous liabilities 2.4 4.8 25.8 14.0 78.0 -3.0 20.9 28.0 28.5 32.0 27

28 Foreign direct investment in U.S. 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 28

29 Due to affiliates 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 29

30 Other -1.3 -0.9 16.9 -1.5 73.1 -2.0 18.8 21.4 32.9 29.0 30

31 Discrepancy -0.3 -0.3 -0.4 -0.3 -0.2 0.4 0.8 0.4 1.7 2.0 31

 Memo:

32 Credit market funds advanced (3) 16.4 35.0 34.2 29.4 26.7 28.4 48.5 16.5 -9.8 11.2 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, 1985-1994, Z.1, December 9, 2004 19

F.112 Bank Holding Companies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 8.7 6.7 6.0 8.6 9.7 10.6 10.5 9.0 15.4 23.2 1

 2 Fixed nonresidential investment 0.2 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.3 0.2 2

 3 Net acquisition of financial assets 32.8 31.1 31.8 18.1 23.7 -4.9 2.1 40.5 45.1 26.2 3

 4 Credit market instruments 3.7 -0.3 2.0 -0.1 2.8 -2.8 -1.5 5.6 -0.0 0.9 4

 5 Treasury securities 0.3 -0.1 0.1 0.0 0.1 -0.2 0.3 5.1 -0.8 -0.7 5

 6 Agency- and GSE-backed securities 1.0 -0.4 0.3 0.0 0.3 -0.5 0.5 -0.2 0.9 1.7 6

 7 Corporate and foreign bonds 3.1 -1.3 1.0 0.1 0.8 -1.9 -0.5 0.3 1.7 -0.1 7

 8 Bank loans n.e.c. -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 8

 9 Miscellaneous assets 29.1 31.5 29.9 18.2 20.9 -2.2 3.6 34.8 45.2 25.3 9

10 Investment in bank subsidiaries 15.6 16.7 19.8 21.3 8.6 5.4 19.4 27.8 31.6 17.5 10

11 Investment in nonbank subsidiaries 13.6 8.4 8.8 -2.5 10.1 -20.8 -14.3 2.3 13.0 0.2 11

12 Other -0.1 6.3 1.3 -0.7 2.2 13.2 -1.6 4.8 0.5 7.7 12

13 Net increase in liabilities 24.2 24.5 25.9 9.6 14.1 -15.5 -8.3 31.6 29.8 3.2 13

14 Net interbank liabilities 1.5 0.6 5.2 -3.6 3.0 11.4 -4.9 3.4 0.9 -1.7 14

15 To domestic banks 2.0 -0.7 1.8 -5.4 1.2 11.0 0.8 -2.5 3.2 6.2 15

16 To foreign banks -0.5 1.3 3.5 1.7 1.8 0.4 -5.7 5.8 -2.3 -7.8 16

17 Federal funds and security RPs (net) 0.0 0.0 0.0 0.0 -0.0 -0.4 -0.9 0.2 0.4 -0.2 17

18 Credit market instruments 16.6 10.7 14.3 5.2 6.2 -27.7 -2.5 2.3 8.8 10.3 18

19 Commercial paper 2.2 -3.3 1.5 -0.2 4.4 -18.7 -5.8 -3.9 5.2 5.9 19

20 Corporate bonds 14.4 13.9 12.8 5.4 1.9 -9.0 3.3 6.1 3.6 4.3 20

21 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 6.9 14.7 15.9 5.4 -5.1 21

22 Miscellaneous liabilities 6.1 13.3 6.4 8.1 4.9 -5.6 -14.7 9.9 14.2 -0.2 22

23 Equity, etc. 5.7 -2.0 5.2 7.3 0.6 -1.5 5.2 22.1 22.0 -7.6 23

24 Other 0.3 15.3 1.2 0.8 4.3 -4.1 -19.9 -12.2 -7.8 7.5 24

25 Discrepancy -0.1 -0.2 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 25

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

 1 Gross saving 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 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 0.1 0.1 2

 3 Net acquisition of financial assets 2.3 -1.2 -1.3 1.6 2.1 4.5 -3.2 2.6 1.7 3.7 3

 4 Checkable deposits and currency 0.4 -0.1 -0.8 -0.6 -0.4 -0.1 -0.8 -0.5 -0.3 0.4 4

 5 Credit market instruments 2.7 0.9 0.1 0.8 1.6 4.5 -1.9 3.7 2.4 3.3 5

 6 Treasury securities 0.1 0.5 0.0 0.2 0.4 0.3 0.3 1.5 1.5 -0.6 6

 7 Agency- and GSE-backed securities 0.0 0.0 0.0 0.4 0.4 0.1 0.1 1.1 0.2 0.5 7

 8 Municipal securities 0.0 0.0 0.0 0.1 -0.0 0.0 -0.1 -0.0 -0.2 0.4 8

 9 Corporate and foreign bonds 0.4 0.1 0.0 -0.9 0.0 -0.0 0.1 0.2 0.2 -0.1 9

10 Bank loans n.e.c. 2.1 0.2 -0.1 0.4 0.1 3.3 -3.0 0.2 -0.5 1.7 10

11 Home mortgages 0.1 0.1 0.1 0.2 0.2 0.2 -0.0 1.0 1.2 0.6 11

12 Commercial mortgages 0.1 0.1 0.1 0.4 0.5 0.7 0.7 -0.2 0.1 0.9 12

13 Miscellaneous assets -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 13

14 Net increase in liabilities 2.3 -1.3 -1.3 1.5 2.2 4.4 -3.1 2.5 1.3 3.5 14

15 Checkable deposits 0.3 0.4 -0.0 0.3 0.5 -0.7 -0.2 0.6 0.3 0.1 15

16 Small time and savings deposits 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 16

17 Large time deposits 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 17

18 Miscellaneous liabilities 1.3 -2.7 -1.1 0.7 0.6 0.9 -0.9 1.1 1.4 1.8 18

19 Discrepancy -0.1 -0.1 -0.0 -0.1 0.0 -0.2 0.1 -0.2 -0.4 -0.2 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, 1985-1994, Z.1, December 9, 2004

F.114 Savings Institutions (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 4.5 6.2 5.3 5.5 1.7 21.3 23.7 14.3 6.3 5.4 1

 2 Fixed nonresidential investment 5.4 5.5 5.9 6.9 6.8 10.7 7.7 7.8 4.0 3.2 2

 3 Net acquisition of financial assets 94.0 105.2 120.9 108.9 -93.5 -159.8 -180.8 -85.1 -39.9 -11.1 3

 4 Reserves at Federal Reserve 1.7 1.7 -0.7 0.4 -0.8 -1.1 -0.5 0.1 0.4 -0.6 4

 5 Checkable deposits and currency 0.8 0.5 -2.3 0.8 -0.8 -0.3 2.0 -0.6 3.1 -1.5 5

 6 Time and savings deposits 2.3 4.0 -8.5 0.0 -2.1 -0.1 -0.3 -1.3 -0.7 -1.8 6

 7 Federal funds and security RPs -4.2 -4.8 -0.9 2.5 3.9 -2.5 -6.6 -0.6 -3.9 -4.1 7

 8 Credit market instruments 76.4 93.4 117.0 100.5 -98.5 -164.2 -158.9 -79.0 -23.3 6.7 8

 9 Open market paper -0.2 1.8 -1.0 0.8 -0.7 -0.0 0.5 -0.7 -0.3 -0.2 9

10 Treasury securities -5.2 3.5 9.6 -10.2 -8.1 -0.9 -0.9 9.0 -5.7 -1.1 10

11 Agency- and GSE-backed securities 0.5 46.3 43.6 19.9 -48.4 -23.2 -40.6 -2.0 4.2 12.6 11

12 Mortgage pass-through securities -0.5 43.1 44.5 4.8 -46.1 -20.6 -31.2 -2.9 2.9 10.2 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 1.0 3.2 -0.9 15.1 -2.2 -2.6 -9.4 0.9 1.3 2.4 14

15 Municipal securities 0.6 -0.3 -0.0 0.2 -0.2 0.4 -0.6 -0.4 0.1 -0.1 15

16 Corporate and foreign bonds 3.1 7.3 8.5 16.2 -14.4 -15.3 -2.9 7.3 9.1 -2.4 16

17 Private mortgage pass-through securities 0.0 0.0 0.0 5.6 4.1 1.8 0.0 -0.7 3.8 -1.1 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 3.1 7.3 8.5 10.6 -18.5 -17.1 -3.0 8.0 5.3 -1.3 19

20 Other loans and advances 8.7 10.5 1.1 3.4 -1.8 -12.7 -10.6 -10.1 -1.6 -0.5 20

21 Mortgages 55.5 19.2 52.9 68.8 -20.8 -99.5 -96.3 -77.4 -29.5 -2.2 21

22 Consumer credit 13.4 5.3 2.4 1.4 -4.2 -12.9 -7.5 -4.8 0.5 0.6 22

23 Corporate equities -0.1 2.1 1.4 2.0 0.4 -2.5 -1.1 0.3 1.7 -1.8 23

24 Miscellaneous assets 17.0 8.3 14.9 2.7 4.4 11.0 -15.4 -4.1 -17.2 -8.1 24

25 Net increase in liabilities 93.6 99.5 116.2 105.6 -80.8 -150.9 -181.5 -92.1 -51.8 -17.8 25

26 Deposits 55.9 48.1 51.3 55.4 -22.3 -120.2 -112.6 -84.7 -67.4 -51.8 26

27 Checkable 9.9 17.1 5.3 6.8 -1.1 -4.8 17.3 -1.4 4.4 -5.4 27

28 Small time and savings 40.2 29.5 37.9 37.6 -6.0 -73.5 -94.7 -75.4 -68.1 -44.4 28

29 Large time 5.8 1.4 8.1 11.0 -15.1 -41.9 -35.3 -7.9 -3.6 -2.1 29

30 Security RPs -3.0 17.1 28.1 15.9 -46.2 -15.3 -22.9 -1.0 7.5 18.4 30

31 Credit market instruments 21.0 24.3 28.7 21.6 -15.0 -30.9 -44.7 -7.0 11.3 12.8 31

32 Corporate bonds 4.6 4.9 4.4 1.9 -3.4 -5.6 -4.1 -3.2 -1.5 -0.8 32

33 Bank loans n.e.c. 1.9 -0.6 -0.5 0.1 -0.7 0.5 -0.7 -0.0 -0.5 0.9 33

34 Other loans and advances 14.5 20.0 24.8 19.6 -10.8 -25.9 -39.9 -3.8 13.3 12.7 34

35 Taxes payable 0.1 0.1 0.1 0.1 -0.1 -0.2 0.2 0.2 0.6 -0.9 35

36 Miscellaneous liabilities 19.6 9.9 8.0 12.6 2.7 15.7 -1.4 0.4 -3.8 3.7 36

37 Investment by parent 0.7 0.2 -0.9 -0.0 -0.0 -0.4 -1.0 -1.0 0.4 -0.0 37

38 Other 18.9 9.7 8.9 12.6 2.7 16.1 -0.4 1.4 -4.2 3.7 38

39 Discrepancy -1.3 -4.9 -5.3 -4.7 7.7 19.5 15.3 -0.5 -9.7 -4.5 39

(1) Savings and loan associations, mutual savings banks, and federal savings banks.
FFA, 1985-1994, Z.1, December 9, 2004 21

F.115 Credit Unions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 1.6 0.9 1.2 1.3 1.8 1.8 2.7 5.2 5.7 5.6 1

 2 Fixed nonresidential investment 0.8 0.8 1.0 1.2 1.3 0.9 0.9 1.2 0.9 1.1 2

 3 Net acquisition of financial assets 24.0 28.6 15.3 14.0 9.1 15.3 22.7 24.7 17.0 11.9 3

 4 Checkable deposits and currency 0.7 0.7 0.0 0.2 0.6 0.0 0.6 1.2 -0.1 0.0 4

 5 Time and savings deposits 5.0 7.1 0.4 -3.5 -2.7 0.4 5.0 0.3 -1.3 -8.9 5

 6 Federal funds and security RPs 3.7 2.5 -1.6 0.1 3.1 2.1 -1.4 0.4 -5.1 -2.3 6

 7 Credit market instruments 13.4 15.5 17.5 17.5 7.1 10.6 12.8 17.7 21.7 28.1 7

 8 Open market paper 0.1 0.6 -0.3 0.4 0.3 1.2 0.3 0.4 -0.7 -0.1 8

 9 Treasury securities 2.4 1.8 3.2 3.3 -2.3 -3.6 5.5 5.9 2.6 -0.5 9

10 Agency- and GSE-backed securities 1.1 1.8 0.0 -1.7 -0.9 8.2 5.2 9.1 7.7 4.5 10

11 Home mortgages 3.6 8.2 10.5 8.2 6.8 4.9 3.1 1.0 2.2 6.1 11

12 Consumer credit 6.1 3.1 4.0 7.3 3.3 -0.1 -1.3 1.4 9.9 18.0 12

13 Mutual fund shares 0.0 0.0 -0.0 -0.4 -0.1 0.2 1.2 1.5 0.1 -1.6 13

14 Miscellaneous assets 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 14

15 Net increase in liabilities 22.8 27.4 14.2 12.8 8.0 14.0 21.1 21.7 13.3 9.5 15

16 Shares/deposits 22.9 27.2 13.3 12.4 8.6 13.8 20.5 21.6 12.6 7.9 16

17 Checkable 3.1 0.4 1.7 0.8 1.3 1.5 2.2 4.5 1.7 2.0 17

18 Small time and savings 19.4 26.1 11.4 11.3 4.2 14.4 17.5 15.5 9.8 5.5 18

19 Large time 0.3 0.7 0.3 0.4 3.1 -2.1 0.8 1.6 1.1 0.4 19

20 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 20

21 Miscellaneous liabilities -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 21

22 Discrepancy -0.5 -1.2 -0.9 -1.1 -0.7 -0.4 0.2 1.0 1.0 2.1 22

F.116 Bank Personal Trusts and Estates (1)

Billions of dollars

 1 Net acquisition of financial assets 10.2 18.1 13.2 2.2 19.6 29.7 16.1 -7.1 1.6 18.8 1

 2 Deposits 5.9 7.0 2.5 5.9 3.3 3.9 -1.0 -5.7 -1.1 1.8 2

 3 Checkable deposits and currency -0.6 0.8 -0.8 0.1 -0.1 0.1 0.0 -0.1 -0.1 -0.3 3

 4 Time and savings deposits 2.1 2.5 3.1 2.6 0.8 0.2 -4.6 -5.2 -1.1 1.6 4

 5 Money market fund shares 4.5 3.6 0.2 3.2 2.6 3.6 3.6 -0.3 0.1 0.6 5

 6 Credit market instruments 9.7 18.5 12.5 13.9 19.7 15.9 10.0 8.0 9.5 7.1 6

 7 Open market paper -2.2 4.1 -3.1 3.8 4.7 -0.5 -5.2 -2.5 -3.2 3.5 7

 8 Treasury securities 1.1 0.7 3.2 4.5 2.8 3.0 -0.5 -2.8 -1.5 -2.5 8

 9 Agency- and GSE-backed securities 2.4 0.8 2.4 3.4 2.2 5.3 3.4 1.2 2.7 1.4 9

10 Municipal securities 8.4 8.6 6.2 2.8 7.1 7.7 9.2 6.1 12.9 5.3 10

11 Corporate and foreign bonds 0.1 4.9 4.5 -0.5 2.5 0.2 3.4 6.2 -1.1 -0.4 11

12 Mortgages -0.0 -0.5 -0.8 -0.0 0.4 0.1 -0.1 -0.2 -0.3 -0.2 12

13 Corporate equities -12.8 -31.7 -4.8 -5.2 -5.2 0.5 -8.6 -37.0 -55.2 -8.8 13

14 Mutual fund shares 6.4 24.6 1.7 -12.3 0.4 9.7 13.5 25.8 44.9 21.7 14

15 Miscellaneous assets 0.9 -0.3 1.2 -0.1 1.4 -0.4 2.2 1.8 3.5 -3.1 15

16 Net increase in liabilities (2) 11.2 16.9 16.3 0.9 19.3 32.9 17.5 -7.1 0.9 17.8 16

17 Discrepancy 1.0 -1.2 3.2 -1.3 -0.3 3.2 1.4 0.1 -0.7 -1.0 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, 1985-1994, Z.1, December 9, 2004

F.117 Life Insurance Companies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 1.2 -4.2 -7.2 1.1 -0.5 -2.2 1.6 -2.4 -5.4 6.1 1

 2 Fixed nonresidential investment 6.4 6.9 6.7 6.7 7.4 7.4 7.3 8.0 7.0 9.6 2

 3 Net acquisition of financial assets 90.6 104.7 101.2 113.7 114.1 112.1 110.6 97.7 142.5 126.2 3

 4 Checkable deposits and currency 0.5 0.7 -0.9 -0.3 0.5 -0.1 0.5 -0.6 0.4 0.4 4

 5 Money market fund shares 2.1 0.9 -3.1 0.1 -0.8 11.9 6.9 5.4 6.4 -15.3 5

 6 Credit market instruments 76.5 87.9 88.6 103.1 100.1 107.2 80.8 79.5 100.4 72.0 6

 7 Open market paper -0.2 5.4 -0.4 5.1 3.6 2.9 0.0 -2.5 3.6 5.9 7

 8 Treasury securities 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 8

 9 Agency- and GSE-backed securities 12.5 10.6 7.0 8.6 25.0 20.3 42.4 27.7 27.6 11.3 9

10 Municipal securities 1.0 2.0 -1.0 -1.6 -0.1 3.3 -2.1 1.1 3.2 -1.9 10

11 Corporate and foreign bonds 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 11

12 Policy loans -0.1 -0.3 -0.4 0.6 3.2 4.1 4.8 5.7 5.7 7.8 12

13 Mortgages 15.1 22.0 18.5 20.5 21.4 13.6 -8.4 -17.5 -18.1 -8.1 13

14 Corporate equities 4.8 -2.1 5.7 -3.4 9.7 -5.7 17.0 12.4 41.1 42.5 14

15 Mutual fund shares 1.1 10.2 -2.2 5.7 -4.1 12.6 1.0 9.0 1.5 4.4 15

16 Miscellaneous assets 5.6 7.0 13.0 8.6 8.7 -13.8 4.4 -8.1 -7.3 22.2 16

17 Net increase in liabilities 80.4 100.5 94.9 104.8 103.3 109.0 96.6 103.7 124.4 118.4 17

18 Corporate equity issues -0.1 0.6 -0.9 -0.1 -0.6 -1.4 -0.1 0.6 -0.8 -1.7 18

19 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 19

20 Life insurance reserves 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 20

21 Pension fund reserves (1) 55.6 63.4 30.9 69.2 52.3 79.7 38.8 57.2 62.3 72.2 21

22 Taxes payable 0.4 0.7 0.2 0.5 0.9 0.5 1.1 1.4 1.6 1.0 22

23 Miscellaneous liabilities 14.0 18.6 38.8 10.3 22.3 4.9 31.2 16.8 25.3 12.3 23

24 Discrepancy -15.4 -15.3 -20.2 -14.5 -18.6 -12.7 -19.6 -4.4 -30.6 -11.3 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 -5.0 1.1 4.8 5.8 5.4 0.7 1.3 -3.0 2.8 -0.7 1

 2 Fixed nonresidential investment 2.7 3.0 3.1 3.3 4.4 4.6 5.0 5.7 5.6 6.4 2

 3 Net acquisition of financial assets 31.9 46.2 48.5 45.1 41.7 26.4 25.2 9.4 31.7 27.5 3

 4 Checkable deposits and currency 1.2 1.3 -0.1 -0.1 0.6 0.5 -1.1 0.2 -0.4 -0.2 4

 5 Security RPs 5.7 0.1 0.9 3.3 -0.1 3.2 -4.1 5.6 -0.9 -2.3 5

 6 Credit market instruments 24.9 39.4 39.6 28.8 28.8 26.4 30.0 6.7 27.7 24.9 6

 7 Treasury securities 4.9 12.7 8.4 8.9 10.8 7.8 23.9 2.6 14.2 9.4 7

 8 Agency- and GSE-backed securities 7.8 -0.6 0.1 0.2 3.4 5.9 9.7 -0.3 1.3 1.6 8

 9 Municipal securities 3.8 13.3 23.0 8.9 0.1 1.8 -10.7 6.3 10.4 7.4 9

10 Corporate and foreign bonds 7.7 13.0 7.4 10.1 13.6 10.4 7.4 -1.2 3.3 7.2 10

11 Commercial mortgages 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 11

12 Corporate equities -2.0 -0.3 2.7 3.6 7.9 -7.0 -1.2 -0.4 0.8 1.1 12

13 Trade receivables 2.2 4.9 3.6 6.8 2.8 2.0 1.9 -0.1 1.7 2.2 13

14 Miscellaneous assets -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 14

15 Net increase in liabilities 38.9 45.2 41.0 29.8 33.1 23.3 14.0 23.0 20.8 13.7 15

16 Corporate equity issues 1.5 2.2 -2.0 -2.1 -1.6 -3.8 -2.6 -1.0 3.6 -3.5 16

17 Taxes payable 0.1 0.2 0.5 0.6 0.7 0.7 1.1 1.0 1.4 0.9 17

18 Miscellaneous liabilities 37.3 42.7 42.4 31.3 34.0 26.5 15.5 23.1 15.8 16.4 18

19 Discrepancy -0.6 -2.9 -5.7 -12.9 -7.7 -7.0 -14.8 5.0 -13.7 -21.0 19
FFA, 1985-1994, Z.1, December 9, 2004 23

F.119 Private Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.3 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.3 0.5 1

 2 Fixed nonresidential investment 1.6 1.8 1.8 1.4 1.9 1.7 1.1 1.0 0.8 1.9 2

 3 Net acquisition of financial assets 135.8 24.6 35.1 67.4 60.4 26.2 90.6 64.2 99.3 85.7 3

 4 Checkable deposits and currency -0.0 -1.4 -0.2 2.9 -0.4 -0.8 -0.3 -0.0 0.2 0.9 4

 5 Time and savings deposits 13.7 10.4 -10.8 10.9 27.5 -4.2 5.5 -17.1 -3.4 6.7 5

 6 Money market fund shares 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 6

 7 Security RPs 10.6 1.7 -0.4 2.3 2.1 -1.3 3.7 0.2 0.9 -6.2 7

 8 Credit market instruments 67.8 4.6 13.6 22.0 51.6 43.5 25.4 26.0 36.2 39.7 8

 9 Open market paper 4.9 4.3 7.2 -6.1 -0.7 -0.4 3.3 -0.2 0.7 -6.2 9

10 Treasury securities 16.5 -15.7 0.2 -0.3 9.7 -0.1 -5.3 -8.5 -4.4 16.8 10

11 Agency- and GSE-backed securities 21.0 -8.0 13.1 14.4 23.8 22.6 12.9 10.5 14.2 40.9 11

12 Corporate and foreign bonds 21.2 26.8 -3.9 5.5 12.1 19.8 21.2 27.8 27.2 -6.6 12

13 Mortgages 4.3 -2.8 -3.0 8.5 6.6 1.6 -6.7 -3.7 -1.6 -5.2 13

14 Corporate equities 11.3 -12.9 0.1 6.8 -33.9 0.6 12.8 36.4 20.2 0.3 14

15 Mutual fund shares 2.0 1.8 2.2 -0.5 5.1 6.6 11.2 15.2 26.7 23.8 15

16 Miscellaneous assets 28.2 18.5 28.8 21.1 5.5 -18.1 31.4 2.6 11.9 15.1 16

17 Unallocated insurance contracts (2) 0.0 13.9 33.5 1.9 12.3 9.6 20.8 5.6 12.2 3.8 17

18 Contributions receivable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 18

19 Other 22.4 4.5 -6.2 20.5 -14.1 -33.8 -1.5 -12.9 -12.6 -0.4 19

20 Pension fund reserves (liabilities) (3) 137.2 26.1 36.6 68.5 61.9 27.6 91.4 64.8 99.7 87.1 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 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3 0.4 1

 2 Fixed nonresidential investment 0.4 0.3 0.5 0.5 0.8 1.0 0.8 0.9 0.8 1.4 2

 3 Net acquisition of financial assets 53.4 71.7 62.7 44.6 92.5 63.8 59.8 56.7 50.3 45.3 3

 4 Checkable deposits and currency 0.4 0.7 1.8 -0.4 -1.2 1.8 -1.2 2.7 0.1 0.1 4

 5 Time and savings deposits 1.4 -3.4 -4.7 1.9 1.9 -1.4 1.1 -1.9 -0.7 -3.7 5

 6 Security RPs 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 6

 7 Credit market instruments 19.2 44.7 31.7 21.8 30.9 20.5 2.6 37.1 26.9 10.1 7

 8 Open market paper 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 8

 9 Treasury securities 17.5 29.9 23.5 11.8 1.7 15.8 -2.7 38.0 13.9 -1.9 9

10 Agency- and GSE-backed securities -5.2 0.0 4.8 -7.6 15.9 11.6 -4.8 -18.3 -4.0 4.1 10

11 Municipal securities -0.4 -0.4 0.1 -0.3 -0.3 0.2 0.1 -0.2 0.9 -0.3 11

12 Corporate and foreign bonds 4.8 11.7 0.4 18.7 14.4 -10.5 2.6 12.2 22.1 0.1 12

13 Mortgages 0.1 0.2 -0.2 0.3 -0.3 0.8 0.8 -0.4 -1.9 0.7 13

14 Corporate equities 28.6 24.0 32.4 22.9 14.0 22.5 39.1 13.8 33.3 26.1 14

15 Miscellaneous assets 1.4 2.4 -1.5 -0.4 47.3 17.8 11.5 -0.9 -4.9 5.4 15

16 Pension fund reserves (liabilities) (1) 53.7 72.0 63.1 45.0 93.1 64.6 60.3 57.3 50.8 46.3 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 39.9 29.6 31.4 34.4 36.7 36.2 41.5 44.0 41.8 43.0 1

 2 Credit market instruments 0.0 0.0 1.1 1.6 2.1 2.5 2.6 3.0 3.1 3.7 2

 3 Treasury securities 0.0 0.0 1.1 1.6 2.1 2.5 2.5 2.8 2.7 3.5 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.3 0.1 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.3 0.5 1.2 1.7 1.7 6

 7 Miscellaneous assets 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 7

 8 Pension fund reserves (liabilities) (2) 39.9 29.6 31.4 34.4 36.7 36.2 41.5 44.0 41.8 43.0 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, 1985-1994, Z.1, December 9, 2004

F.122 Money Market Mutual Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 1

 2 Foreign deposits -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 2

 3 Checkable deposits and currency 1.4 -0.2 -0.3 1.0 -0.6 11.1 -11.5 -2.4 1.4 -1.3 3

 4 Time and savings deposits -6.7 2.7 14.5 -0.8 9.3 -21.1 13.2 -0.5 -2.8 -0.5 4

 5 Security RPs 3.3 6.0 7.0 2.3 13.1 3.9 8.8 -1.0 0.4 2.4 5

 6 Credit market instruments 14.0 34.9 1.9 10.5 68.3 77.5 32.7 4.7 20.4 30.0 6

 7 Open market paper 1.1 6.1 5.7 17.4 57.0 19.5 -13.4 -17.0 -9.1 22.7 7

 8 Treasury securities -0.8 3.4 -13.7 -2.7 3.2 30.2 33.4 0.2 1.0 -13.3 8

 9 Agency- and GSE-backed securities 1.1 -3.0 11.7 -8.6 2.7 15.6 4.2 13.6 13.5 9.4 9

10 Municipal securities 12.5 27.6 -2.3 4.3 4.0 13.9 6.6 5.4 9.6 7.8 10

11 Corporate and foreign bonds 0.2 0.8 0.4 0.1 1.4 -1.7 1.8 2.5 5.4 3.4 11

12 Miscellaneous assets 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 12

13 Net share issues (liabilities) 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 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 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 1

 2 Net acquisition of financial assets 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 2

 3 Security RPs 0.1 1.5 0.8 1.3 -0.2 1.4 6.1 9.7 16.8 4.4 3

 4 Credit market instruments 76.1 129.9 31.3 13.3 22.7 36.2 80.1 126.2 159.5 -7.1 4

 5 Open market paper -0.5 7.9 3.6 9.1 -0.6 3.7 -16.3 9.7 16.8 4.4 5

 6 Treasury securities 32.2 32.4 12.8 -3.8 1.2 5.7 16.8 6.5 23.6 -3.5 6

 7 Agency- and GSE-backed securities 20.7 37.3 2.8 -3.4 1.6 8.1 24.1 50.3 25.7 -6.9 7

 8 Municipal securities 15.8 32.1 7.9 8.1 15.7 13.9 27.2 28.7 42.9 -4.3 8

 9 Corporate and foreign bonds 8.0 20.2 4.1 3.2 4.8 4.7 28.4 31.0 50.6 3.2 9

10 Corporate equities 10.3 20.2 26.9 -16.0 1.2 14.4 48.5 59.8 115.3 100.8 10

11 Miscellaneous assets 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 11

12 Net share issues (liabilities) 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 12

13 Discrepancy 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 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 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 1

 2 Credit market instruments 1.4 2.9 4.0 17.9 6.6 1.3 12.8 20.2 20.0 -3.7 2

 3 Treasury securities 0.1 0.4 0.6 3.2 1.8 0.2 3.1 1.7 2.1 -1.0 3

 4 Municipal securities 1.0 1.1 1.3 4.2 4.6 2.0 11.3 14.3 12.1 1.6 4

 5 Corporate and foreign bonds 0.3 1.4 2.1 10.4 0.1 -0.9 -1.6 4.2 5.8 -4.4 5

 6 Corporate equities -0.4 2.9 3.3 2.8 -0.3 0.1 1.8 -0.0 3.7 6.1 6

 7 Net share issues (liabilities) 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 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 0.5 -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 0.5 -0.0 12

13 Net share issues (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 13
FFA, 1985-1994, Z.1, December 9, 2004 25

F.125 Government-Sponsored Enterprises (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.3 -0.2 0.7 1.5 1.9 1.8 2.0 1.6 1.8 1.6 1

 2 Fixed nonresidential investment 0.9 1.0 0.7 0.6 0.6 0.5 0.4 0.3 0.7 0.8 2

 3 Net acquisition of financial assets 28.7 22.5 28.0 47.3 32.5 23.4 19.2 56.0 78.8 150.7 3

 4 Checkable deposits and currency 0.8 1.5 -0.1 -0.0 -1.3 -0.2 -0.9 -0.0 0.9 -0.8 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 6.0 2.5 -2.2 6.6 28.0 6.9 -1.1 -1.0 -16.2 35.4 6

 7 Credit market instruments 25.1 16.6 23.4 33.3 -4.3 14.0 15.0 69.3 88.5 121.2 7

 8 Open market paper -0.6 -0.0 -0.0 0.4 2.9 0.5 7.1 2.7 -1.7 14.4 8

 9 Treasury securities 4.1 9.5 4.7 5.3 -13.3 21.3 18.2 17.9 -7.1 0.3 9

10 Agency- and GSE-backed securities 0.1 -0.6 -0.1 0.2 5.9 5.6 11.1 12.7 18.6 64.8 10

11 Municipal securities 0.4 0.7 0.2 0.5 -0.0 0.8 -0.7 0.2 -0.1 2.0 11

12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 8.9 12

13 Other loans and advances 10.3 17.6 25.0 18.8 -8.6 -23.1 -34.1 0.6 23.8 23.6 13

14 Sallie Mae 1.0 0.8 1.4 -0.3 0.5 1.0 1.1 -1.6 -0.8 0.0 14

15 Farm Credit System -4.9 -3.1 -0.8 -0.7 1.9 0.5 2.8 1.4 1.4 0.8 15

16 FHLB loans 14.2 19.8 24.4 19.7 -11.0 -24.7 -38.0 0.8 23.3 22.8 16

17 Mortgages 9.6 -12.0 -8.3 5.0 6.0 5.7 11.5 32.1 41.3 3.6 17

18 Home 12.2 -5.2 -2.5 5.8 5.3 5.3 11.1 30.5 39.8 2.6 18

19 Multifamily residential 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 19

20 Farm -4.5 -7.1 -5.5 -1.9 -1.8 -0.9 -0.5 -0.1 -0.2 0.1 20

21 Consumer credit (2) 1.2 1.4 1.9 3.2 2.8 3.2 1.9 3.1 2.6 3.6 21

22 Miscellaneous assets -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 22

23 Net increase in liabilities 30.5 23.1 27.0 46.0 31.5 21.6 16.4 53.1 75.6 147.2 23

24 Credit market instruments 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 24

25 GSE issues (3) 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 25

26 U.S. government loans 1.1 -0.4 -0.8 0.0 0.0 -0.1 -0.0 -0.0 0.0 -4.8 26

27 Miscellaneous liabilities 8.8 8.2 -2.4 1.1 6.3 4.6 7.3 12.5 -4.9 -24.9 27

28 Discrepancy 1.1 -0.6 -1.0 -0.5 0.3 -0.4 -1.2 -1.5 -2.1 -2.6 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 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 1

 2 Home mortgages 77.6 159.3 133.4 70.7 120.2 147.3 139.3 117.8 86.1 115.3 2

 3 Multifamily residential mortgages 1.5 5.1 4.5 5.2 4.1 3.0 -2.6 -2.3 -1.4 -0.0 3

 4 Commercial mortgages 0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 4

 5 Farm mortgages -0.2 -0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 5

 6 Net increase in pool securities (liabilities)(2) 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 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, 1985-1994, Z.1, December 9, 2004

F.127 Issuers of Asset-Backed Securities (ABSs)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.3 0.3 0.3 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.4 0.7 0.1 0.2 0.5 2

 3 Net acquisition of financial assets 15.8 37.5 43.6 36.1 26.9 75.8 79.9 100.7 85.2 72.8 3

 4 Agency- and GSE-backed securities (1) 8.9 42.7 28.4 25.1 -7.9 19.5 2.3 18.1 21.7 20.1 4

 5 Other loans and advances 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 5

 6 Mortgages (2) 6.0 -6.0 13.4 9.3 12.1 14.7 44.8 58.0 41.1 26.1 6

 7 Home 5.4 -7.4 11.2 7.1 8.5 11.9 39.6 48.3 28.8 18.5 7

 8 Multifamily residential 0.0 0.2 0.4 0.4 -0.0 -0.1 2.9 2.8 1.8 1.5 8

 9 Commercial 0.6 1.2 1.9 1.8 3.6 2.9 2.3 6.9 10.4 6.1 9

10 Consumer credit 0.0 0.0 0.0 0.0 20.2 29.3 26.3 17.3 10.2 15.6 10

11 Trade credit 0.9 0.9 1.8 1.7 1.9 8.7 4.1 4.3 2.6 6.8 11

12 Net increase in liabilities 15.8 37.5 43.6 36.1 26.9 76.0 80.2 100.4 85.1 73.0 12

13 Commercial paper 0.9 0.9 1.8 1.7 8.9 15.7 7.3 8.1 4.7 12.4 13

14 Corporate bonds 15.0 36.7 41.8 34.4 18.0 60.3 72.9 92.3 80.4 60.6 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 0.2 0.3 -0.3 -0.1 0.1 16

17 REIT assets (4) 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -0.7 -1.7 -3.6 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 1.1 1.8 6.0 6.9 8.9 9.5 11.8 14.5 14.6 16.4 1

 2 Fixed nonresidential investment 9.3 11.4 11.3 12.0 14.2 13.0 9.5 6.5 15.1 20.7 2

 3 Net acquisition of financial assets 51.0 48.9 59.2 44.2 28.9 27.5 12.7 -4.1 6.3 42.3 3

 4 Checkable deposits and currency 0.3 0.4 0.6 0.8 1.0 1.1 1.2 1.3 1.4 1.6 4

 5 Credit market instruments 43.8 39.8 45.4 35.0 29.2 22.1 -18.3 0.4 -30.0 48.3 5

 6 Other loans and advances 18.3 15.6 34.3 28.6 23.5 17.4 -4.3 1.1 -15.9 25.9 6

 7 Mortgages 4.8 5.6 8.0 5.1 6.5 11.2 -1.7 2.5 -3.1 4.2 7

 8 Consumer credit 20.7 18.6 3.1 1.2 -0.7 -6.5 -12.2 -3.3 -11.1 18.3 8

 9 Miscellaneous assets 7.0 8.7 13.2 8.4 -1.4 4.3 29.8 -5.8 34.9 -7.6 9

10 Net increase in liabilities 52.4 49.7 54.4 36.1 22.6 27.9 19.7 3.8 10.9 64.2 10

11 Credit market instruments 40.7 51.5 23.2 23.9 27.4 23.1 16.0 -3.1 -1.4 48.7 11

12 Open market paper 29.6 21.6 10.7 17.1 8.7 3.1 -8.6 -6.0 -0.1 22.5 12

13 Corporate bonds 14.7 26.3 9.6 5.9 15.6 16.8 14.8 8.9 12.5 31.7 13

14 Bank loans n.e.c. -3.6 3.7 2.9 1.0 3.1 3.2 9.9 -6.0 -13.7 -5.6 14

15 Taxes payable 0.0 0.0 0.3 0.2 0.4 0.4 0.5 0.6 0.8 0.8 15

16 Miscellaneous liabilities 11.6 -1.9 30.9 11.9 -5.2 4.4 3.2 6.3 11.5 14.8 16

17 Foreign direct investment in U.S. -0.5 2.1 -0.2 -0.5 7.2 -3.5 1.3 1.4 23.6 1.3 17

18 Investment by parent 15.6 7.5 -10.0 -13.2 -1.5 1.4 -4.3 2.0 1.2 6.2 18

19 Other -3.4 -11.5 41.1 25.7 -10.9 6.4 6.2 3.0 -13.4 7.3 19

20 Discrepancy -6.8 -8.8 -10.0 -13.3 -11.5 -3.1 9.3 15.8 4.1 17.6 20

 Memo:

21 Consumer leases not included above (2) 2.7 2.8 2.3 2.9 2.8 6.6 7.4 5.5 10.2 18.2 21

(1) Includes retail captive finance companies.

(2) See footnote (3), table F.127.
FFA, 1985-1994, Z.1, December 9, 2004 27

F.129 Mortgage Companies (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 3.2 11.8 -12.7 5.2 20.1 -0.0 11.2 0.1 -0.0 -24.0 1

 2 Home mortgages 2.8 11.0 -11.8 5.0 20.2 -0.9 11.3 -0.4 -0.5 -24.0 2

 3 Multifamily residential mortgages 0.2 0.7 -0.9 0.3 -0.2 1.0 -0.1 0.3 0.1 0.0 3

 4 Commercial mortgages 0.1 0.2 0.1 -0.0 0.1 -0.0 0.0 0.3 0.3 0.0 4

 5 Net increase in liabilities 3.2 11.8 -12.7 5.2 20.1 -0.0 11.2 0.1 -0.0 -24.0 5

 6 Bank loans n.e.c. 1.2 9.0 -11.2 0.0 10.1 -0.0 -2.4 8.0 0.0 -11.5 6

 7 Investment by parent 2.0 2.8 -1.5 5.1 10.1 0.0 13.6 -7.9 -0.1 -12.5 7

(1) No data are available after 1997:Q4.

F.130 Real Estate Investment Trusts (REITs)

Billions of dollars

 1 Gross saving 0.3 1.2 1.3 1.6 1.7 1.7 2.1 3.0 2.7 2.7 1

 2 Fixed nonresidential investment 1.1 1.9 1.5 1.0 1.1 1.8 1.9 1.7 1.1 14.6 2

 3 Multifamily residential investment 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 3

 4 Net acquisition of financial assets 2.8 4.6 8.4 5.1 2.2 -2.2 0.5 -0.9 1.9 1.1 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 2.6 5.0 7.5 4.3 0.6 -1.8 -0.6 1.4 0.4 -0.7 6

 7 Agency- and GSE-backed securities 0.2 5.0 6.5 2.5 0.9 -1.1 0.1 -0.7 -0.3 -6.4 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 0.2 1.0 8

 9 Mortgages 2.4 0.0 1.0 1.7 -0.3 -0.7 -0.7 1.1 0.6 4.7 9

10 Home 0.1 -0.0 0.0 0.1 -0.0 -0.0 -0.1 0.8 1.1 2.8 10

11 Multifamily residential 0.4 0.0 0.3 0.5 -0.1 -0.2 -0.1 0.0 -0.3 0.2 11

12 Commercial 1.9 0.0 0.7 1.1 -0.2 -0.5 -0.5 0.3 -0.3 1.7 12

13 Miscellaneous assets 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 13

14 Net increase in liabilities 4.7 7.6 9.8 8.0 2.5 1.1 4.2 4.0 16.9 29.0 14

15 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 2.1 4.7 15

16 Credit market instruments 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 16

17 Open market paper 0.1 0.3 0.4 -0.1 -0.2 -0.2 -0.0 -0.0 -0.3 -0.6 17

18 Corporate bonds 0.9 4.8 6.8 1.8 1.0 0.1 -0.1 0.3 -1.4 -1.6 18

19 Bank loans n.e.c. 0.3 0.3 0.5 1.6 1.0 0.3 0.6 -1.3 -0.2 2.5 19

20 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 20

21 Corporate equity issues 3.2 1.8 1.4 2.2 1.8 1.3 1.6 2.0 13.2 11.1 21

22 Miscellaneous liabilities 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 22

23 Discrepancy 0.9 2.2 1.0 3.5 0.8 3.0 3.6 3.6 11.5 8.7 23

 Memo:

24 Securitized assets included above 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -0.7 -1.7 -3.6 24

25 Agency- and GSE-backed securities 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -1.3 -2.3 -5.0 25

26 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.6 1.4 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, 1985-1994, Z.1, December 9, 2004

F.131 Security Brokers and Dealers

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.7 -0.3 1.5 0.0 -0.2 2.7 0.6 2.9 4.5 5.2 1

 2 Fixed nonresidential investment 5.3 7.0 7.1 8.0 8.4 7.2 6.9 4.4 13.7 10.5 2

 3 Net acquisition of financial assets 37.6 28.6 -62.5 -2.0 100.7 25.6 70.4 49.2 97.0 -24.1 3

 4 Checkable deposits and currency 2.4 2.2 -1.4 1.9 0.4 0.5 -0.1 0.2 1.9 -0.3 4

 5 Credit market instruments 4.1 8.1 -35.0 -16.3 80.2 2.8 17.5 -1.3 14.8 -44.2 5

 6 Open market paper -2.8 -2.0 -1.5 0.6 3.0 0.6 -4.4 1.2 -0.3 -3.7 6

 7 Treasury securities -16.2 8.1 -25.7 -30.7 68.9 -14.2 -1.6 -13.3 -20.7 -14.4 7

 8 Agency- and GSE-backed securities 4.9 4.9 4.9 4.9 4.9 19.6 10.0 -1.0 7.8 -15.8 8

 9 Municipal securities 8.9 -3.3 -8.4 -0.8 -0.4 0.8 1.6 1.9 5.8 -1.7 9

10 Corporate and foreign bonds 9.2 0.3 -4.4 9.8 3.7 -4.0 12.0 10.0 22.2 -8.7 10

11 Corporate equities 2.6 1.4 -7.1 0.1 -1.9 -3.3 2.4 -0.6 8.1 -3.4 11

12 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 12

13 Miscellaneous assets 9.7 10.3 -2.7 10.5 23.0 29.4 34.3 52.6 49.6 24.8 13

14 Net increase in liabilities 35.3 27.2 -55.8 -4.9 96.9 31.4 64.2 44.8 91.8 -17.4 14

15 Security RPs (net) -1.8 11.8 -49.8 -13.1 86.1 16.8 25.7 24.0 20.0 -23.0 15

16 Corporate bonds 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 16

17 Corporate equity issues 2.5 2.2 6.3 -1.2 -3.0 3.4 -5.7 -1.9 1.3 4.7 17

18 Trade payables 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 18

19 Security credit 24.5 3.2 -11.1 1.3 16.6 7.2 35.2 6.2 38.7 1.0 19

20 Customer credit balances (HH) 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 20

21 From banks 11.0 -5.8 -5.3 -0.5 4.3 -2.0 10.6 16.9 12.7 -5.7 21

22 Taxes payable 0.3 0.2 -0.6 0.1 0.1 0.1 0.2 0.0 0.5 -0.2 22

23 Miscellaneous liabilities 6.9 7.0 1.1 1.8 -6.9 5.0 4.0 13.1 15.6 1.6 23

24 Foreign direct investment in U.S. -0.3 0.6 2.1 0.9 1.4 0.1 2.0 0.0 0.1 0.8 24

25 Due to affiliates 8.5 3.4 17.3 9.1 1.1 -6.8 -14.0 29.4 29.2 25.7 25

26 Other -1.3 3.0 -18.4 -8.2 -9.3 11.7 16.0 -16.3 -13.7 -24.8 26

27 Proprietors’ net investment 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 27

28 Discrepancy -6.9 -8.7 1.1 -10.9 -12.3 1.2 -12.5 -6.0 -14.4 1.3 28

F.132 Funding Corporations (1)

Billions of dollars

 1 Net acquisition of financial assets 71.5 11.0 20.0 33.3 14.1 11.3 29.0 58.6 -9.4 31.2 1

 2 Money market fund shares 0.7 2.6 2.2 4.0 8.0 16.1 15.8 23.5 8.3 27.7 2

 3 Credit market instruments 60.0 0.9 8.3 9.7 3.6 -8.4 3.0 12.0 -28.4 -12.1 3

 4 Open market paper 60.0 0.9 8.3 9.7 3.6 -8.4 3.0 12.0 -32.4 -22.1 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 10.0 5

 6 Miscellaneous assets (2) 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 6

 7 Investment in foreign banking offices 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 7

 8 Investment in brokers and dealers 8.5 3.4 2.4 6.8 -0.2 5.4 10.7 19.2 17.2 16.1 8

 9 Net increase in liabilities 71.5 11.0 20.0 33.3 14.1 11.3 29.0 58.6 -9.4 31.2 9

10 Credit market instruments 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 10

11 Open market paper 8.6 10.6 7.0 39.1 13.8 14.0 -10.9 4.5 -7.3 3.0 11

12 Corporate bonds 2.1 1.4 2.7 -1.1 -1.3 2.9 6.9 11.7 13.6 20.0 12

13 Miscellaneous liabilities 60.8 -1.0 10.4 -4.8 1.6 -5.6 33.0 42.4 -15.8 8.1 13

14 Foreign direct investment in U.S. 0.0 -4.4 -0.1 -18.5 -10.0 -13.2 14.2 6.9 4.3 -7.5 14

15 Securities loaned (net) 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 15

16 Other 59.3 -1.7 7.3 5.7 -4.5 -24.5 -12.7 -15.1 -63.6 -9.0 16

(1) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations.

(2) Due from affiliated companies.
FFA, 1985-1994, Z.1, December 9, 2004 29

F.200 Gold and Official Foreign Exchange Holdings (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total U.S. reserves 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 1

 2 U.S. gold stock and SDRs 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 2

 3 Federal govt.: Exchange Stab. Fund 0.9 0.3 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 3

 4 Monetary authority (2) -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 4

 5 U.S. foreign exchange position 3.0 -0.6 -9.7 4.0 24.8 2.0 -5.9 -1.6 0.8 -5.8 5

 6 Official foreign currency holdings 3.9 0.9 -7.6 5.1 25.2 2.7 -6.3 -4.3 0.8 -5.3 6

 7 Treasury 1.9 0.5 -3.8 2.5 12.6 1.3 -3.2 -2.1 0.4 -2.6 7

 8 Monetary authority 1.9 0.5 -3.8 2.5 12.6 1.3 -3.2 -2.1 0.4 -2.6 8

 9 Net IMF position -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.0 -0.5 9

10 Federal government -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.1 -0.5 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 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 1

 2 Asset: Monetary authority 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 3

 4 Asset: Monetary authority 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 4

 5 Discrepancy (seigniorage) -0.2 -0.0 -0.1 -0.1 -0.2 0.2 -0.6 -0.2 -0.2 -0.2 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 1

 Held by:

 2 Household sector 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 2

 3 Nonfinancial corporate business 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 3

 4 Money market mutual funds -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 4

 5 Discrepancy--unallocated assets 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 5
30 FFA, 1985-1994, Z.1, December 9, 2004

F.203 Net Interbank Transactions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 29.7 31.2 45.4 2.0 -16.2 35.0 -3.4 49.4 50.5 89.8 1

 2 Monetary authority 8.1 19.6 -7.1 0.3 -2.7 7.0 -8.2 0.9 3.7 1.3 2

 3 Depository institution reserves 6.8 19.5 -6.3 -2.4 -3.8 3.1 -9.2 2.7 2.9 -4.2 3

 4 Vault cash 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 4

 5 Commercial banking 21.5 11.7 52.5 1.7 -13.5 28.0 4.8 48.4 46.9 88.5 5

 6 To monetary authority -0.4 -1.2 1.8 -1.2 -1.9 0.8 -1.5 3.0 -2.9 -1.5 6

 7 To banks in foreign countries 16.6 15.7 54.7 5.9 -7.2 25.6 -19.9 50.3 45.6 92.7 7

 8 Liabilities, net 11.9 14.6 52.6 5.5 -9.1 25.2 -17.1 48.6 46.3 93.5 8

 9 U.S.-chartered commercial banks 8.5 -3.6 26.4 2.2 -7.7 16.7 -5.7 -6.5 19.3 74.4 9

10 Due to foreign affiliates 10.3 -5.1 12.0 12.1 -9.7 14.9 7.4 -10.1 6.6 52.6 10

11 - Due from foreign affiliates 1.8 -1.5 -14.4 9.9 -2.0 -1.8 13.1 -3.7 -12.8 -21.7 11

12 Foreign banking offices in U.S. 3.9 16.9 22.8 1.5 -3.2 8.1 -5.7 49.3 29.2 27.0 12

13 Due to foreign affiliates 7.4 18.7 13.0 0.3 -13.2 7.9 5.4 3.7 -1.7 1.4 13

14 - Due from foreign affiliates 3.5 1.8 -9.7 -1.2 -10.0 -0.2 11.1 -45.6 -30.9 -25.6 14

15 Bank holding companies -0.5 1.3 3.5 1.7 1.8 0.4 -5.7 5.8 -2.3 -7.8 15

16 Due to foreign affiliates -1.1 1.2 0.9 4.7 -2.2 0.5 -2.2 1.0 -2.3 -2.5 16

17 - Due from foreign affiliates -0.6 -0.1 -2.6 3.0 -4.0 0.1 3.5 -4.8 -0.0 5.3 17

18 Less: Deposits at foreign banks -4.7 -1.1 -2.0 -0.4 -1.9 -0.5 2.8 -1.7 0.7 0.8 18

19 U.S.-chartered commercial banks -2.0 -1.0 -1.9 -0.2 -2.3 -0.7 2.9 -1.7 0.7 -0.4 19

20 Foreign banking offices in U.S. -2.7 -0.1 -0.2 -0.2 0.4 0.3 -0.1 -0.0 0.0 1.3 20

21 To U.S. banking, net 5.3 -2.8 -4.0 -3.0 -4.4 1.6 26.2 -4.9 4.2 -2.7 21

22 U.S.-chartered commercial banks -1.7 -0.9 2.2 0.1 -14.0 -9.9 17.9 14.6 13.3 5.6 22

23 Liabilities 6.9 4.7 3.2 4.3 3.6 -7.6 8.4 -10.6 6.0 4.9 23

24 To foreign offices in U.S. 1.3 7.3 9.1 7.0 7.9 5.2 -15.6 -4.8 1.9 8.1 24

25 To bank holding companies 0.3 0.2 -1.9 0.3 0.1 -14.4 -2.2 -0.9 -0.1 -0.4 25

26 Unallocated 5.3 -2.8 -4.0 -3.0 -4.4 1.6 26.2 -4.9 4.2 -2.7 26

 Less, due from:

27 Foreign offices in U.S. 6.3 6.1 1.2 9.2 16.3 5.7 -8.1 -21.8 -10.5 -6.5 27

28 Bank holding companies 2.2 -0.5 -0.2 -5.0 1.3 -3.4 -1.4 -3.4 3.2 5.8 28

29 Foreign banking offices in U.S. 5.0 -1.2 -7.9 2.3 8.4 0.4 7.5 -17.0 -12.3 -14.6 29

30 Due to U.S. banks 6.3 6.1 1.2 9.2 16.3 5.7 -8.1 -21.8 -10.5 -6.5 30

31 - Due from U.S. banks 1.3 7.3 9.1 7.0 7.9 5.2 -15.6 -4.8 1.9 8.1 31

32 Bank holding companies 2.0 -0.7 1.8 -5.4 1.2 11.0 0.8 -2.5 3.2 6.2 32

33 Due to U.S. banks 2.2 -0.5 -0.2 -5.0 1.3 -3.4 -1.4 -3.4 3.2 5.8 33

34 - Due from U.S. banks 0.3 0.2 -1.9 0.3 0.1 -14.4 -2.2 -0.9 -0.1 -0.4 34

35 Net change in assets 24.4 34.1 49.3 5.0 -11.8 33.5 -29.6 54.2 46.3 92.5 35

36 Rest of the world 16.6 15.7 54.7 5.9 -7.2 25.6 -19.9 50.3 45.6 92.7 36

37 Domestic 7.7 18.4 -5.3 -0.9 -4.6 7.9 -9.7 3.9 0.7 -0.2 37

38 Monetary authority -0.4 -1.2 1.8 -1.2 -1.9 0.8 -1.5 3.0 -2.9 -1.5 38

39 Federal Reserve float 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 39

40 Loans to member banks -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 40

41 Commercial banking 6.4 17.9 -6.4 -0.1 -1.9 8.1 -7.8 0.8 3.3 1.9 41

42 Reserves at Federal Reserve 5.1 17.8 -5.6 -2.8 -3.0 4.2 -8.8 2.5 2.5 -3.5 42

43 Vault cash 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 43

44 Savings insts.: Reserves at Fed. Res. 1.7 1.7 -0.7 0.4 -0.8 -1.1 -0.5 0.1 0.4 -0.6 44

45 Discrepancy--floats, etc. 5.3 -2.8 -4.0 -3.0 -4.4 1.6 26.2 -4.9 4.2 -2.7 45
FFA, 1985-1994, Z.1, December 9, 2004 31

F.204 Checkable Deposits and Currency

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 83.8 124.4 3.9 42.7 6.4 43.6 86.3 113.5 117.3 -9.7 1

 2 Monetary authority 16.6 12.4 16.7 18.1 9.5 25.2 29.2 17.6 37.1 25.3 2

 3 Federal government cash and deposits 4.1 -1.9 -2.3 3.3 -2.4 2.8 8.8 -10.3 7.2 -7.7 3

 4 Deposits due to foreign 0.1 -0.2 -0.1 0.1 0.2 -0.2 0.6 -0.7 0.2 -0.1 4

 5 Currency outside banks 12.4 14.4 19.0 14.7 11.7 22.6 19.8 28.7 29.8 33.1 5

 6 Commercial banking 54.2 94.5 -19.7 17.1 -3.4 21.7 37.6 92.8 74.1 -31.7 6

 7 Federal government deposits 10.3 1.7 -5.8 7.3 -3.4 5.3 5.5 -5.9 12.1 -18.9 7

 8 Deposits due to foreign 1.4 2.9 -1.3 -0.6 -0.1 -0.1 -2.0 2.3 -0.4 2.0 8

 9 Private domestic deposits 42.6 90.0 -12.6 10.4 0.1 16.5 34.1 96.4 62.4 -14.8 9

10 Savings institutions 9.9 17.1 5.3 6.8 -1.1 -4.8 17.3 -1.4 4.4 -5.4 10

11 Credit unions 3.1 0.4 1.7 0.8 1.3 1.5 2.2 4.5 1.7 2.0 11

12 Net change in assets 83.8 124.4 3.9 42.7 6.4 43.6 86.3 113.5 117.3 -9.7 12

13 Household sector 17.6 112.4 2.7 -1.8 -0.5 -12.0 49.2 108.5 45.2 -30.7 13

14 Nonfinancial business 35.1 4.8 10.0 18.8 10.1 8.2 9.3 2.1 24.8 24.2 14

15 Corporate 23.0 1.5 9.5 14.0 9.1 6.1 6.9 -4.3 20.5 11.7 15

16 Nonfarm noncorporate 11.5 2.2 0.7 4.3 0.9 1.8 1.5 4.6 2.3 12.0 16

17 Farm 0.7 1.1 -0.2 0.5 0.1 0.4 1.0 1.8 2.1 0.4 17

18 State and local governments 1.1 2.5 -0.7 3.0 0.4 -1.3 6.5 1.2 2.0 1.8 18

19 Federal government 13.0 0.4 -8.1 9.0 -14.2 4.8 27.4 -16.9 20.7 -21.7 19

20 Rest of the world 6.7 6.8 4.1 5.1 6.0 18.5 14.0 15.0 18.7 25.3 20

21 Checkable deposits 1.5 2.7 -1.4 -0.5 0.2 -0.3 -1.4 1.5 -0.3 1.8 21

22 Currency 5.2 4.1 5.5 5.7 5.9 18.8 15.4 13.5 18.9 23.5 22

23 Financial sectors 8.2 7.1 -4.4 6.1 -1.7 13.5 -11.5 1.4 8.6 -0.9 23

24 Commercial banking 0.4 -0.1 -0.8 -0.6 -0.4 -0.1 -0.8 -0.5 -0.3 0.4 24

25 Savings institutions 0.8 0.5 -2.3 0.8 -0.8 -0.3 2.0 -0.6 3.1 -1.5 25

26 Credit unions 0.7 0.7 0.0 0.2 0.6 0.0 0.6 1.2 -0.1 0.0 26

27 Bank personal trusts and estates -0.6 0.8 -0.8 0.1 -0.1 0.1 0.0 -0.1 -0.1 -0.3 27

28 Life insurance companies 0.5 0.7 -0.9 -0.3 0.5 -0.1 0.5 -0.6 0.4 0.4 28

29 Other insurance companies 1.2 1.3 -0.1 -0.1 0.6 0.5 -1.1 0.2 -0.4 -0.2 29

30 Private pension funds -0.0 -1.4 -0.2 2.9 -0.4 -0.8 -0.3 -0.0 0.2 0.9 30

31 State and local govt. retirement funds 0.4 0.7 1.8 -0.4 -1.2 1.8 -1.2 2.7 0.1 0.1 31

32 Money market mutual funds 1.4 -0.2 -0.3 1.0 -0.6 11.1 -11.5 -2.4 1.4 -1.3 32

33 Government-sponsored enterprises 0.8 1.5 -0.1 -0.0 -1.3 -0.2 -0.9 -0.0 0.9 -0.8 33

34 Finance companies 0.3 0.4 0.6 0.8 1.0 1.1 1.2 1.3 1.4 1.6 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 2.4 2.2 -1.4 1.9 0.4 0.5 -0.1 0.2 1.9 -0.3 36

37 Mail float 2.1 -9.5 0.4 2.5 6.2 11.8 -8.6 2.2 -2.8 -7.6 37
32 FFA, 1985-1994, Z.1, December 9, 2004

F.205 Time and Savings Deposits

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 158.6 133.5 126.9 176.0 115.8 -2.1 -56.8 -130.4 -93.9 -20.3 1

 2 Small time and savings deposits 141.5 130.0 77.1 122.9 98.9 63.9 1.6 -57.3 -70.3 -39.9 2

 3 Commercial banking 81.8 74.3 27.9 74.0 100.7 123.0 78.8 2.7 -12.0 -1.0 3

 4 U.S.-chartered commercial banks 80.3 71.6 27.4 73.1 96.5 121.9 79.9 2.0 -10.9 -0.6 4

 5 Foreign banking offices in U.S. 1.1 2.2 0.6 0.5 3.7 -1.0 -0.1 0.2 -0.8 -1.1 5

 6 Banks in U.S.-affiliated areas 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 6

 7 Savings institutions 40.2 29.5 37.9 37.6 -6.0 -73.5 -94.7 -75.4 -68.1 -44.4 7

 8 Credit unions 19.4 26.1 11.4 11.3 4.2 14.4 17.5 15.5 9.8 5.5 8

 9 Large time deposits (1) 17.1 3.6 49.8 53.2 16.9 -66.1 -58.5 -73.2 -23.5 19.6 9

10 Commercial banking 11.0 1.5 41.4 41.8 28.9 -22.1 -24.0 -66.8 -21.1 21.3 10

11 U.S.-chartered commercial banks 10.8 -6.6 37.7 35.2 24.0 -20.5 -73.1 -76.2 -20.0 17.9 11

12 Foreign banking offices in U.S. -0.2 7.6 3.8 6.3 4.4 -3.7 50.1 9.0 -0.8 2.6 12

13 Banks in U.S.-affiliated areas 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 13

14 Savings institutions 5.8 1.4 8.1 11.0 -15.1 -41.9 -35.3 -7.9 -3.6 -2.1 14

15 Credit unions 0.3 0.7 0.3 0.4 3.1 -2.1 0.8 1.6 1.1 0.4 15

16 Net change in assets 158.6 133.5 126.9 176.0 115.8 -2.1 -56.8 -130.4 -93.9 -20.3 16

17 Household sector 124.9 92.3 126.3 160.7 79.5 30.9 -70.9 -99.2 -108.6 -29.6 17

18 Nonfinancial business 5.7 17.9 -1.5 2.9 -0.3 -3.4 5.2 5.4 19.4 8.0 18

19 Corporate 0.2 16.2 0.4 -3.7 -1.7 -6.0 3.0 -1.6 16.0 4.4 19

20 Nonfarm noncorporate 5.5 1.7 -1.9 6.6 1.4 2.7 2.2 7.0 3.4 3.6 20

21 State and local governments 7.0 2.4 7.1 -2.0 -2.8 -3.0 -11.1 -6.1 -1.5 6.5 21

22 Federal government 0.0 0.2 0.2 -0.2 -0.1 0.1 0.1 -0.7 -0.1 -0.1 22

23 Rest of the world 3.2 -2.5 0.9 3.4 4.7 -0.7 -0.2 -4.1 6.8 1.5 23

24 Financial sectors 17.8 23.3 -6.0 11.3 34.8 -26.1 20.0 -25.7 -9.9 -6.6 24

25 Savings institutions 2.3 4.0 -8.5 0.0 -2.1 -0.1 -0.3 -1.3 -0.7 -1.8 25

26 Credit unions 5.0 7.1 0.4 -3.5 -2.7 0.4 5.0 0.3 -1.3 -8.9 26

27 Bank personal trusts and estates 2.1 2.5 3.1 2.6 0.8 0.2 -4.6 -5.2 -1.1 1.6 27

28 Private pension funds 13.7 10.4 -10.8 10.9 27.5 -4.2 5.5 -17.1 -3.4 6.7 28

29 State and local govt. retirement funds 1.4 -3.4 -4.7 1.9 1.9 -1.4 1.1 -1.9 -0.7 -3.7 29

30 Money market mutual funds -6.7 2.7 14.5 -0.8 9.3 -21.1 13.2 -0.5 -2.8 -0.5 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 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 1

 2 Net purchases 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 2

 3 Household sector 2.3 38.6 21.2 15.3 76.4 26.9 9.1 -40.9 -0.3 10.7 3

 4 Nonfinancial corporate business -1.5 0.4 0.9 -5.5 0.0 9.3 4.5 13.5 -3.7 3.2 4

 5 Nonfarm noncorporate business 0.0 0.1 -0.1 2.2 0.5 0.9 0.7 2.3 1.1 4.2 5

 6 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 6

 7 Bank personal trusts and estates 4.5 3.6 0.2 3.2 2.6 3.6 3.6 -0.3 0.1 0.6 7

 8 Life insurance companies 2.1 0.9 -3.1 0.1 -0.8 11.9 6.9 5.4 6.4 -15.3 8

 9 Private pension funds 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 9

10 Funding corporations 0.7 2.6 2.2 4.0 8.0 16.1 15.8 23.5 8.3 27.7 10
FFA, 1985-1994, Z.1, December 9, 2004 33

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 26.5 48.1 -11.4 23.7 77.8 -24.2 -16.4 43.2 71.3 78.2 1

 2 Commercial banking (net) 31.3 19.2 10.2 20.8 37.9 -25.7 -19.2 18.3 41.6 78.1 2

 3 U.S.-chartered commercial banks 26.8 10.8 11.9 16.3 35.6 -33.7 -27.0 17.5 45.5 71.6 3

 4 Foreign banking offices in U.S. 4.5 8.4 -1.7 4.5 2.3 8.4 8.8 0.7 -4.3 6.7 4

 5 Bank holding companies 0.0 0.0 0.0 0.0 -0.0 -0.4 -0.9 0.2 0.4 -0.2 5

 6 Savings institutions -3.0 17.1 28.1 15.9 -46.2 -15.3 -22.9 -1.0 7.5 18.4 6

 7 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 2.1 4.7 7

 8 Brokers and dealers (net) -1.8 11.8 -49.8 -13.1 86.1 16.8 25.7 24.0 20.0 -23.0 8

 9 Net change in assets 52.2 33.5 4.3 23.4 68.8 34.0 16.9 40.1 18.1 4.8 9

10 Nonfinancial corporate business -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 10

11 State and local governments 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 11

12 Rest of the world 0.8 3.4 2.2 -0.1 10.1 -3.4 1.2 20.9 16.9 -12.0 12

13 Financial sectors 30.9 23.6 -8.2 22.9 44.8 32.4 9.6 11.2 -7.0 32.2 13

14 Monetary authority 3.2 10.8 -14.7 5.5 -4.7 16.2 -2.5 -7.8 5.1 -2.6 14

15 Savings institutions -4.2 -4.8 -0.9 2.5 3.9 -2.5 -6.6 -0.6 -3.9 -4.1 15

16 Credit unions 3.7 2.5 -1.6 0.1 3.1 2.1 -1.4 0.4 -5.1 -2.3 16

17 Other insurance companies 5.7 0.1 0.9 3.3 -0.1 3.2 -4.1 5.6 -0.9 -2.3 17

18 Private pension funds 10.6 1.7 -0.4 2.3 2.1 -1.3 3.7 0.2 0.9 -6.2 18

19 State and local govt. retirement funds 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 19

20 Money market mutual funds 3.3 6.0 7.0 2.3 13.1 3.9 8.8 -1.0 0.4 2.4 20

21 Mutual funds 0.1 1.5 0.8 1.3 -0.2 1.4 6.1 9.7 16.8 4.4 21

22 Government-sponsored enterprises 6.0 2.5 -2.2 6.6 28.0 6.9 -1.1 -1.0 -16.2 35.4 22

23 Discrepancy--unallocated assets -25.7 14.6 -15.7 0.2 9.0 -58.2 -33.4 3.0 53.2 73.5 23

F.208 Open Market Paper

Billions of dollars

 1 Total net issues, all types 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 1

 2 Commercial paper 62.2 32.2 26.8 78.2 70.1 36.0 -29.7 17.0 2.5 38.6 2

 3 Nonfinancial corporate business 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 3

 4 Foreign issues in U.S. 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 4

 5 Nonfinancial 1.5 2.2 2.4 -0.6 4.3 4.3 5.5 4.5 -3.1 -12.3 5

 6 Financial 4.7 9.3 1.4 9.3 8.7 8.1 1.2 1.1 -6.5 -13.9 6

 7 Financial sectors 41.4 30.1 21.3 57.6 35.6 13.9 -18.1 2.8 2.1 43.3 7

 8 Commercial banking 2.2 -3.3 1.5 -0.2 4.4 -18.7 -5.8 -3.9 5.2 5.9 8

 9 ABS issuers 0.9 0.9 1.8 1.7 8.9 15.7 7.3 8.1 4.7 12.4 9

10 Finance companies 29.6 21.6 10.7 17.1 8.7 3.1 -8.6 -6.0 -0.1 22.5 10

11 REITs 0.1 0.3 0.4 -0.1 -0.2 -0.2 -0.0 -0.0 -0.3 -0.6 11

12 Funding corporations 8.6 10.6 7.0 39.1 13.8 14.0 -10.9 4.5 -7.3 3.0 12

13 Bankers acceptances (1) -9.4 -5.9 5.6 -2.7 -4.2 -5.3 -14.3 -3.9 -7.7 -2.9 13

14 Net purchases, by sector 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 14

15 Household sector -7.0 -4.4 2.3 34.4 -10.4 6.2 -29.9 -3.3 15.6 1.2 15

16 Nonfinancial corporate business 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 16

17 State and local governments 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 17

18 Rest of the world -0.2 -0.1 1.0 2.8 2.4 -2.0 0.6 1.6 5.9 6.0 18

19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Commercial banking (1) -2.9 -1.1 2.6 -1.2 -0.2 2.8 -2.0 -1.4 -1.9 -1.5 20

21 Savings institutions -0.2 1.8 -1.0 0.8 -0.7 -0.0 0.5 -0.7 -0.3 -0.2 21

22 Credit unions 0.1 0.6 -0.3 0.4 0.3 1.2 0.3 0.4 -0.7 -0.1 22

23 Bank personal trusts and estates -2.2 4.1 -3.1 3.8 4.7 -0.5 -5.2 -2.5 -3.2 3.5 23

24 Life insurance companies -0.2 5.4 -0.4 5.1 3.6 2.9 0.0 -2.5 3.6 5.9 24

25 Private pension funds 4.9 4.3 7.2 -6.1 -0.7 -0.4 3.3 -0.2 0.7 -6.2 25

26 State and local govt. retirement funds 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 26

27 Money market mutual funds 1.1 6.1 5.7 17.4 57.0 19.5 -13.4 -17.0 -9.1 22.7 27

28 Mutual funds -0.5 7.9 3.6 9.1 -0.6 3.7 -16.3 9.7 16.8 4.4 28

29 Government-sponsored enterprises -0.6 -0.0 -0.0 0.4 2.9 0.5 7.1 2.7 -1.7 14.4 29

30 Brokers and dealers -2.8 -2.0 -1.5 0.6 3.0 0.6 -4.4 1.2 -0.3 -3.7 30

31 Funding corporations 60.0 0.9 8.3 9.7 3.6 -8.4 3.0 12.0 -32.4 -22.1 31

(1) Excludes banks’ holdings of own acceptances.
34 FFA, 1985-1994, Z.1, December 9, 2004

F.209 Treasury Securities

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 1

 2 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 2

 3 Other Treasury issues 220.5 202.1 134.6 129.2 136.6 230.3 280.1 284.6 233.7 147.7 3

 4 Net purchases 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 4

 5 Household sector 15.1 -3.0 26.7 78.2 39.1 94.2 25.0 87.0 50.9 172.0 5

 6 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 6

 7 Other Treasury issues 9.8 -16.6 19.0 69.8 30.9 85.7 13.1 67.9 36.2 164.0 7

 8 Nonfinancial corporate business 4.6 -0.8 -8.5 -3.9 23.5 -13.8 5.8 17.2 -11.8 2.0 8

 9 Nonfarm noncorporate business 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 0.6 4.7 9

10 State and local governments 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 10

11 Rest of the world 19.6 38.2 35.6 62.0 29.8 27.0 33.7 55.6 73.3 65.0 11

12 Monetary authority 18.6 19.8 24.9 11.1 -6.9 8.3 31.4 28.5 37.0 32.5 12

13 Commercial banking 7.9 8.3 -3.3 -9.1 -20.0 6.8 60.4 61.9 27.8 -31.8 13

14 U.S.-chartered commercial banks 7.5 5.9 -3.1 -9.4 -20.3 1.7 50.3 46.6 20.6 -27.0 14

15 Foreign banking offices in U.S. -0.0 2.1 -0.4 0.1 -0.2 5.0 9.4 8.7 6.5 -3.5 15

16 Bank holding companies 0.3 -0.1 0.1 0.0 0.1 -0.2 0.3 5.1 -0.8 -0.7 16

17 Banks in U.S.-affiliated areas 0.1 0.5 0.0 0.2 0.4 0.3 0.3 1.5 1.5 -0.6 17

18 Savings institutions -5.2 3.5 9.6 -10.2 -8.1 -0.9 -0.9 9.0 -5.7 -1.1 18

19 Credit unions 2.4 1.8 3.2 3.3 -2.3 -3.6 5.5 5.9 2.6 -0.5 19

20 Bank personal trusts and estates 1.1 0.7 3.2 4.5 2.8 3.0 -0.5 -2.8 -1.5 -2.5 20

21 Life insurance companies 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 21

22 Other insurance companies 4.9 12.7 8.4 8.9 10.8 7.8 23.9 2.6 14.2 9.4 22

23 Private pension funds 16.5 -15.7 0.2 -0.3 9.7 -0.1 -5.3 -8.5 -4.4 16.8 23

24 State and local govt. retirement funds 17.5 29.9 23.5 11.8 1.7 15.8 -2.7 38.0 13.9 -1.9 24

25 Federal government retirement funds 0.0 0.0 1.1 1.6 2.1 2.5 2.5 2.8 2.7 3.5 25

26 Money market mutual funds -0.8 3.4 -13.7 -2.7 3.2 30.2 33.4 0.2 1.0 -13.3 26

27 Mutual funds 32.2 32.4 12.8 -3.8 1.2 5.7 16.8 6.5 23.6 -3.5 27

28 Closed-end funds 0.1 0.4 0.6 3.2 1.8 0.2 3.1 1.7 2.1 -1.0 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 4.1 9.5 4.7 5.3 -13.3 21.3 18.2 17.9 -7.1 0.3 30

31 Brokers and dealers -16.2 8.1 -25.7 -30.7 68.9 -14.2 -1.6 -13.3 -20.7 -14.4 31

 Memo:

32 Federal government borrowing (1) 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 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, 1985-1994, Z.1, December 9, 2004 35

F.210 Agency- and GSE-backed Securities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 1

 2 Budget agencies -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 2

 3 Government-sponsored enterprises 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 3

 4 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 4

 5 Net purchases 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 5

 6 Household sector -8.4 1.6 4.6 17.1 18.2 14.6 -22.3 -40.7 -57.6 112.0 6

 7 Nonfinancial corporate business -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 7

 8 State and local governments 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 4.3 7.0 5.0 6.7 15.1 6.3 10.2 18.3 35.4 21.7 10

11 Monetary authority -0.2 -0.4 -0.3 -0.6 -0.4 -0.2 -0.3 -0.6 -0.8 -1.0 11

12 Commercial banking -1.4 37.6 29.4 30.8 55.2 54.3 50.9 42.8 44.7 5.5 12

13 U.S.-chartered commercial banks -2.9 36.5 27.9 29.3 54.2 52.8 46.3 38.9 36.2 1.8 13

14 Foreign banking offices in U.S. 0.5 1.5 1.2 1.1 0.3 1.9 4.0 2.9 7.4 1.5 14

15 Bank holding companies 1.0 -0.4 0.3 0.0 0.3 -0.5 0.5 -0.2 0.9 1.7 15

16 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.4 0.4 0.1 0.1 1.1 0.2 0.5 16

17 Savings institutions 0.5 46.3 43.6 19.9 -48.4 -23.2 -40.6 -2.0 4.2 12.6 17

18 Credit unions 1.1 1.8 0.0 -1.7 -0.9 8.2 5.2 9.1 7.7 4.5 18

19 Bank personal trusts and estates 2.4 0.8 2.4 3.4 2.2 5.3 3.4 1.2 2.7 1.4 19

20 Life insurance companies 12.5 10.6 7.0 8.6 25.0 20.3 42.4 27.7 27.6 11.3 20

21 Other insurance companies 7.8 -0.6 0.1 0.2 3.4 5.9 9.7 -0.3 1.3 1.6 21

22 Private pension funds 21.0 -8.0 13.1 14.4 23.8 22.6 12.9 10.5 14.2 40.9 22

23 State and local govt. retirement funds -5.2 0.0 4.8 -7.6 15.9 11.6 -4.8 -18.3 -4.0 4.1 23

24 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.3 0.1 24

25 Money market mutual funds 1.1 -3.0 11.7 -8.6 2.7 15.6 4.2 13.6 13.5 9.4 25

26 Mutual funds 20.7 37.3 2.8 -3.4 1.6 8.1 24.1 50.3 25.7 -6.9 26

27 Government-sponsored enterprises 0.1 -0.6 -0.1 0.2 5.9 5.6 11.1 12.7 18.6 64.8 27

28 ABS issuers 8.9 42.7 28.4 25.1 -7.9 19.5 2.3 18.1 21.7 20.1 28

29 REITs 0.2 5.0 6.5 2.5 0.9 -1.1 0.1 -0.7 -0.3 -6.4 29

30 Brokers and dealers 4.9 4.9 4.9 4.9 4.9 19.6 10.0 -1.0 7.8 -15.8 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, 1985-1994, Z.1, December 9, 2004

F.211 Municipal Securities and Loans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 208.2 59.9 91.6 59.3 52.9 49.3 87.8 23.3 66.3 -35.9 1

 2 State and local governments 155.4 72.8 92.8 57.3 50.3 46.3 85.0 17.0 58.3 -46.4 2

 3 Short-term (1) 2.2 -0.1 -0.8 2.0 3.3 2.9 6.9 -1.1 1.8 -2.2 3

 4 Long-term 153.2 72.9 93.6 55.3 47.0 43.3 78.1 18.1 56.5 -44.2 4

 5 Nonprofit organizations (2) 30.2 -3.0 -0.3 1.8 3.5 3.3 4.0 2.0 1.4 3.6 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 6

 7 Net change in assets 208.2 59.9 91.6 59.3 52.9 49.3 87.8 23.3 66.3 -35.9 7

 8 Household sector 95.5 6.7 99.6 58.0 24.1 27.6 40.0 -34.2 -42.5 -51.5 8

 9 Nonfinancial corporate business 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 8.9 2.0 9

10 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.1 10

11 State and local governments 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 11

12 Commercial banking 57.1 -28.4 -29.1 -22.7 -17.8 -16.4 -14.2 -5.7 1.7 -1.6 12

13 Savings institutions 0.6 -0.3 -0.0 0.2 -0.2 0.4 -0.6 -0.4 0.1 -0.1 13

14 Bank personal trusts and estates 8.4 8.6 6.2 2.8 7.1 7.7 9.2 6.1 12.9 5.3 14

15 Life insurance companies 1.0 2.0 -1.0 -1.6 -0.1 3.3 -2.1 1.1 3.2 -1.9 15

16 Other insurance companies 3.8 13.3 23.0 8.9 0.1 1.8 -10.7 6.3 10.4 7.4 16

17 State and local govt. retirement funds -0.4 -0.4 0.1 -0.3 -0.3 0.2 0.1 -0.2 0.9 -0.3 17

18 Money market mutual funds 12.5 27.6 -2.3 4.3 4.0 13.9 6.6 5.4 9.6 7.8 18

19 Mutual funds 15.8 32.1 7.9 8.1 15.7 13.9 27.2 28.7 42.9 -4.3 19

20 Closed-end funds 1.0 1.1 1.3 4.2 4.6 2.0 11.3 14.3 12.1 1.6 20

21 Government-sponsored enterprises 0.4 0.7 0.2 0.5 -0.0 0.8 -0.7 0.2 -0.1 2.0 21

22 Brokers and dealers 8.9 -3.3 -8.4 -0.8 -0.4 0.8 1.6 1.9 5.8 -1.7 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).

F.212 Corporate and Foreign Bonds

Billions of dollars

 1 Net issues 143.4 222.5 164.7 162.2 119.5 139.6 192.2 211.5 280.9 156.4 1

 2 Nonfinancial corporate business 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 75.2 23.3 2

 3 Rest of the world (1) 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 3

 4 Financial sectors 56.5 92.3 78.6 52.2 40.8 71.1 98.4 127.1 122.8 118.2 4

 5 Commercial banking 18.9 16.1 13.5 5.1 4.7 -4.8 4.2 14.5 7.2 7.7 5

 6 Savings institutions 4.6 4.9 4.4 1.9 -3.4 -5.6 -4.1 -3.2 -1.5 -0.8 6

 7 ABS issuers 15.0 36.7 41.8 34.4 18.0 60.3 72.9 92.3 80.4 60.6 7

 8 Finance companies 14.7 26.3 9.6 5.9 15.6 16.8 14.8 8.9 12.5 31.7 8

 9 REITs 0.9 4.8 6.8 1.8 1.0 0.1 -0.1 0.3 -1.4 -1.6 9

10 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 10

11 Funding corporations 2.1 1.4 2.7 -1.1 -1.3 2.9 6.9 11.7 13.6 20.0 11

12 Net purchases 143.4 222.5 164.7 162.2 119.5 139.6 192.2 211.5 280.9 156.4 12

13 Household sector 2.7 32.0 33.0 -7.7 9.0 69.3 68.7 36.2 23.0 37.5 13

14 State and local governments 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 14

15 Rest of the world (2) 36.3 39.1 18.8 15.9 13.0 5.3 16.2 18.1 30.4 38.0 15

16 Commercial banking 9.2 22.2 24.8 10.9 4.3 4.6 7.6 -1.6 3.5 4.3 16

17 Savings institutions 3.1 7.3 8.5 16.2 -14.4 -15.3 -2.9 7.3 9.1 -2.4 17

18 Bank personal trusts and estates 0.1 4.9 4.5 -0.5 2.5 0.2 3.4 6.2 -1.1 -0.4 18

19 Life insurance companies 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 19

20 Other insurance companies 7.7 13.0 7.4 10.1 13.6 10.4 7.4 -1.2 3.3 7.2 20

21 Private pension funds 21.2 26.8 -3.9 5.5 12.1 19.8 21.2 27.8 27.2 -6.6 21

22 State and local govt. retirement funds 4.8 11.7 0.4 18.7 14.4 -10.5 2.6 12.2 22.1 0.1 22

23 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 23

24 Money market mutual funds 0.2 0.8 0.4 0.1 1.4 -1.7 1.8 2.5 5.4 3.4 24

25 Mutual funds 8.0 20.2 4.1 3.2 4.8 4.7 28.4 31.0 50.6 3.2 25

26 Closed-end funds 0.3 1.4 2.1 10.4 0.1 -0.9 -1.6 4.2 5.8 -4.4 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 11.1 8.9 28

29 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 0.2 1.0 29

30 Brokers and dealers 9.2 0.3 -4.4 9.8 3.7 -4.0 12.0 10.0 22.2 -8.7 30

31 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 10.0 31

(1) Net purchases of foreign issues by U.S. residents.

(2) Net purchases of U.S. issues by foreign residents.
FFA, 1985-1994, Z.1, December 9, 2004 37

F.213 Corporate Equities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues -71.4 -69.8 -64.0 -106.6 -102.6 -45.7 72.3 99.6 133.4 12.8 1

 2 Nonfinancial corporate business -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 2

 3 Rest of the world (2) 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 3

 4 Financial sectors 9.4 14.0 13.6 21.8 4.4 9.9 23.4 40.2 48.7 9.6 4

 5 Commercial banking 1.4 1.4 1.5 2.5 1.5 9.0 15.7 20.2 7.3 -3.3 5

 6 Life insurance companies -0.1 0.6 -0.9 -0.1 -0.6 -1.4 -0.1 0.6 -0.8 -1.7 6

 7 Other insurance companies 1.5 2.2 -2.0 -2.1 -1.6 -3.8 -2.6 -1.0 3.6 -3.5 7

 8 Closed-end funds 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 8

 9 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 9

10 REITs 3.2 1.8 1.4 2.2 1.8 1.3 1.6 2.0 13.2 11.1 10

11 Brokers and dealers 2.5 2.2 6.3 -1.2 -3.0 3.4 -5.7 -1.9 1.3 4.7 11

12 Net purchases -71.4 -69.8 -64.0 -106.6 -102.6 -45.7 72.3 99.6 133.4 12.8 12

13 Household sector -118.4 -91.6 -140.3 -118.1 -104.6 -48.9 -50.8 18.6 -60.2 -153.0 13

14 State and local governments 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 14

15 Rest of the world (3) 4.4 17.9 15.0 -2.9 9.0 -16.0 10.4 -5.6 20.9 0.9 15

16 Commercial banking 0.1 0.0 -0.1 -0.0 -0.1 -2.5 1.7 -0.4 0.9 -1.4 16

17 Savings institutions -0.1 2.1 1.4 2.0 0.4 -2.5 -1.1 0.3 1.7 -1.8 17

18 Bank personal trusts and estates -12.8 -31.7 -4.8 -5.2 -5.2 0.5 -8.6 -37.0 -55.2 -8.8 18

19 Life insurance companies 4.8 -2.1 5.7 -3.4 9.7 -5.7 17.0 12.4 41.1 42.5 19

20 Other insurance companies -2.0 -0.3 2.7 3.6 7.9 -7.0 -1.2 -0.4 0.8 1.1 20

21 Private pension funds 11.3 -12.9 0.1 6.8 -33.9 0.6 12.8 36.4 20.2 0.3 21

22 State and local govt. retirement funds 28.6 24.0 32.4 22.9 14.0 22.5 39.1 13.8 33.3 26.1 22

23 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.3 0.5 1.2 1.7 1.7 23

24 Mutual funds 10.3 20.2 26.9 -16.0 1.2 14.4 48.5 59.8 115.3 100.8 24

25 Closed-end funds -0.4 2.9 3.3 2.8 -0.3 0.1 1.8 -0.0 3.7 6.1 25

26 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 26

27 Brokers and dealers 2.6 1.4 -7.1 0.1 -1.9 -3.3 2.4 -0.6 8.1 -3.4 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 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 1

 2 Net purchases 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 2

 3 Household sector 73.3 112.9 61.3 8.6 26.3 22.3 100.0 129.8 206.3 43.9 3

 4 Nonfinancial corporate business 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 4

 5 State and local governments 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 5

 6 Commercial banking 0.0 0.0 0.0 0.0 -0.1 -0.3 1.8 -0.4 0.5 -1.9 6

 7 Credit unions 0.0 0.0 -0.0 -0.4 -0.1 0.2 1.2 1.5 0.1 -1.6 7

 8 Bank personal trusts and estates 6.4 24.6 1.7 -12.3 0.4 9.7 13.5 25.8 44.9 21.7 8

 9 Life insurance companies 1.1 10.2 -2.2 5.7 -4.1 12.6 1.0 9.0 1.5 4.4 9

10 Private pension funds 2.0 1.8 2.2 -0.5 5.1 6.6 11.2 15.2 26.7 23.8 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, 1985-1994, Z.1, December 9, 2004

F.215 Bank Loans Not Elsewhere Classified

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Total loans by commercial

 1 banking, flow of funds basis 136.0 158.1 102.9 148.4 161.9 83.6 -3.1 18.5 83.6 183.7 1

 - Loans elsewhere classified:

 2 Open market paper -2.9 -1.1 2.6 -1.2 -0.2 2.8 -2.0 -1.4 -1.9 -1.5 2

 3 Mortgages 49.9 73.5 90.1 82.1 93.8 78.6 31.9 19.2 47.3 64.9 3

 4 Consumer credit 38.4 23.0 13.9 26.7 22.5 -1.3 -11.8 -7.3 32.8 63.1 4

 5 Security credit 11.0 -5.8 -5.3 -0.5 4.3 -2.0 10.6 16.9 12.7 -5.7 5

 6 = Banking sector total bank loans n.e.c. 39.6 68.6 1.5 41.2 41.5 5.5 -31.8 -8.9 -7.2 62.9 6

 7 U.S.-chartered commercial banks 27.8 45.0 -16.2 20.5 25.8 -4.5 -56.2 -19.4 8.8 46.2 7

 8 Foreign banking offices in U.S. 10.5 21.9 17.4 20.5 14.0 6.9 29.3 9.9 -13.7 15.1 8

 9 Bank holding companies -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 9

10 Banks in U.S.-affiliated areas 2.1 0.2 -0.1 0.4 0.1 3.3 -3.0 0.2 -0.5 1.7 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. 39.6 68.6 1.5 41.2 41.5 5.5 -31.8 -8.9 -7.2 62.9 12

13 Net change in liabilities 39.6 68.6 1.5 41.2 41.5 5.5 -31.8 -8.9 -7.2 62.9 13

14 Nonfinancial sectors 39.9 56.2 9.8 38.5 28.1 1.4 -39.2 -9.7 7.1 76.6 14

15 Household sector 9.0 -0.0 0.9 -1.9 -9.6 -2.6 -4.8 4.5 9.8 13.4 15

16 Corporate business 31.9 57.0 4.0 32.8 24.9 2.7 -37.8 -19.3 -8.0 46.2 16

17 Nonfarm noncorporate business 6.2 4.6 10.7 8.6 11.9 2.1 -1.4 2.7 2.5 13.8 17

18 Farm business -4.4 -4.3 -2.2 0.8 1.0 2.1 1.7 0.1 2.1 1.9 18

19 Rest of the world -2.8 -1.0 -3.6 -1.8 -0.1 -2.9 3.1 2.3 0.7 1.4 19

20 Foreign official institutions -1.4 -0.0 -0.9 -0.5 -1.4 -0.5 -0.4 1.0 -1.0 -0.2 20

21 Foreign banks -1.3 1.0 -2.9 0.0 0.7 -2.7 1.0 0.7 1.2 0.0 21

22 Other foreign -0.1 -2.1 0.2 -1.3 0.5 0.4 2.5 0.6 0.5 1.6 22

23 Financial sectors -0.2 12.3 -8.3 2.7 13.5 4.0 7.3 0.7 -14.4 -13.7 23

24 Savings institutions 1.9 -0.6 -0.5 0.1 -0.7 0.5 -0.7 -0.0 -0.5 0.9 24

25 Finance companies -3.6 3.7 2.9 1.0 3.1 3.2 9.9 -6.0 -13.7 -5.6 25

26 Mortgage companies 1.2 9.0 -11.2 0.0 10.1 -0.0 -2.4 8.0 0.0 -11.5 26

27 REITs 0.3 0.3 0.5 1.6 1.0 0.3 0.6 -1.3 -0.2 2.5 27
FFA, 1985-1994, Z.1, December 9, 2004 39

F.216 Other Loans and Advances

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total other loans and advances 50.9 68.5 63.3 62.5 34.8 27.6 -104.3 1.5 -8.9 52.7 1

 2 U.S. government loans 15.9 9.0 -2.9 -7.8 -2.3 -1.9 -4.9 0.0 -8.4 -7.5 2

 3 Liab.: Household sector 7.0 4.4 3.3 3.9 0.5 3.0 2.2 0.7 -6.8 1.5 3

 4 Nonfinancial corporate business -2.6 1.5 0.1 -1.0 -0.4 -0.8 -0.8 -0.1 0.2 -0.1 4

 5 Nonfarm noncorporate business 0.5 0.7 -0.6 0.6 -0.1 -1.3 0.1 -0.3 0.6 -2.5 5

 6 Farm business 0.4 -0.2 -0.4 -3.9 0.3 0.2 -1.4 -0.4 -0.7 -0.6 6

 7 State and local governments 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.6 0.1 7

 8 Rest of the world 1.4 1.5 -2.3 -4.0 -2.3 -3.8 -5.4 0.2 -1.1 -1.1 8

 9 Government-sponsored enterprises 1.1 -0.4 -0.8 0.0 0.0 -0.1 -0.0 -0.0 0.0 -4.8 9

10 Foreign loans to U.S. corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 10

11 Liab.: Nonfinancial corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 11

 Customers liability on acceptances

12 outstanding (Commercial banking asset) -9.5 -5.6 5.4 -2.3 -2.1 -9.8 -10.2 -3.6 -6.4 -2.4 12

13 Liab.: Nonfinancial corporate business -2.1 -0.2 4.4 0.0 3.2 -6.6 -5.9 -2.9 -3.3 -2.1 13

14 Rest of the world -7.4 -5.4 1.0 -2.4 -5.3 -3.2 -4.4 -0.7 -3.1 -0.3 14

15 Savings institution loans to business 8.7 10.5 1.1 3.4 -1.8 -12.7 -10.6 -10.1 -1.6 -0.5 15

16 Liab.: Nonfinancial corporate business 4.3 5.2 0.5 1.7 -0.9 -6.3 -5.3 -5.0 -0.8 -0.3 16

17 Nonfarm noncorporate business 4.3 5.2 0.5 1.7 -0.9 -6.3 -5.3 -5.0 -0.8 -0.3 17

18 Policy loans (Household liability) -0.1 -0.1 -0.0 -0.0 3.2 4.1 4.8 5.7 5.6 7.8 18

19 Asset: Federal government -0.0 0.2 0.4 -0.7 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 19

20 Life insurance companies -0.1 -0.3 -0.4 0.6 3.2 4.1 4.8 5.7 5.7 7.8 20

21 Govt.-sponsored enterprises loans 10.3 17.6 25.0 18.8 -8.6 -23.1 -34.1 0.6 23.8 23.6 21

22 Liab.: Household sector (SLMA) 0.1 0.0 0.1 -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 22

23 Noncorporate business (FCS) -1.0 -0.7 0.8 1.6 0.0 0.2 1.4 1.2 1.2 0.0 23

24 Farm business (FCS) -3.9 -2.3 -1.6 -2.3 1.9 0.3 1.4 0.2 0.2 0.8 24

25 Commercial banks (FHLB and SLMA) 0.7 0.6 1.0 -0.2 0.4 2.0 2.7 3.2 8.6 9.3 25

26 Savings institutions (FHLB and SLMA) 14.5 20.0 24.8 19.6 -10.8 -25.9 -39.9 -3.8 13.3 12.7 26

27 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 27

28 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 28

29 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 29

30 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 30

31 Finance company loans to business 18.3 15.6 34.3 28.6 23.5 17.4 -4.3 1.1 -15.9 25.9 31

32 Liab.: Nonfinancial corporate business 16.4 14.0 30.8 25.8 21.1 15.6 -3.9 1.0 -14.3 23.3 32

33 Nonfarm noncorporate business 1.8 1.6 3.4 2.9 2.3 1.7 -0.4 0.1 -1.6 2.6 33
40 FFA, 1985-1994, Z.1, December 9, 2004

F.217 Total Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in mortgages 264.0 286.7 318.1 322.2 265.1 225.7 148.1 112.2 121.8 170.5 1

 2 Home 172.2 202.9 239.8 222.9 226.9 206.9 164.8 168.2 159.5 180.2 2

 3 Multifamily residential 28.5 33.5 17.3 18.1 10.8 -1.4 -3.3 -12.9 -4.4 0.5 3

 4 Commercial 69.8 60.9 68.4 86.0 29.9 21.8 -13.6 -43.6 -34.1 -12.5 4

 5 Farm -6.6 -10.7 -7.4 -4.8 -2.5 -1.6 0.3 0.5 0.8 2.3 5

 6 Net borrowing 264.0 286.7 318.1 322.2 265.1 225.7 148.1 112.2 121.8 170.5 6

 7 Household sector 177.1 202.6 226.5 220.1 239.3 211.1 188.7 179.4 165.1 161.9 7

 8 Nonfinancial business 86.9 83.8 91.3 101.8 25.5 14.0 -41.0 -67.8 -46.8 -1.2 8

 9 Corporate 6.1 17.8 43.5 26.5 -5.4 19.1 -14.4 -38.0 -25.2 2.1 9

10 Nonfarm noncorporate 87.4 76.7 55.3 80.0 33.4 -3.5 -27.0 -30.3 -22.4 -5.6 10

11 Farm -6.6 -10.7 -7.4 -4.8 -2.5 -1.6 0.3 0.5 0.8 2.3 11

12 Federal government -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 12

13 REITs 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 13

14 Net change in assets 264.0 286.7 318.1 322.2 265.1 225.7 148.1 112.2 121.8 170.5 14

15 Household sector 8.2 -4.1 12.2 1.7 8.6 8.9 2.2 -5.8 -7.4 -8.9 15

16 Nonfinancial corporate business 5.6 -6.9 1.4 16.6 -13.7 -1.6 6.2 1.1 -7.8 4.1 16

17 Nonfarm noncorporate business 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 17

18 State and local governments 9.8 11.8 8.7 4.0 6.3 5.3 3.5 -0.0 -5.4 2.2 18

19 Federal government 1.8 0.5 -5.3 -1.1 -0.7 35.6 15.4 -11.9 -15.4 -14.0 19

20 Commercial banking 49.9 73.5 90.1 82.1 93.8 78.6 31.9 19.2 47.3 64.9 20

21 Savings institutions (1) 55.5 19.2 52.9 68.8 -20.8 -99.5 -96.3 -77.4 -29.5 -2.2 21

22 Credit unions 3.6 8.2 10.5 8.2 6.8 4.9 3.1 1.0 2.2 6.1 22

23 Bank personal trusts and estates -0.0 -0.5 -0.8 -0.0 0.4 0.1 -0.1 -0.2 -0.3 -0.2 23

24 Life insurance companies 15.1 22.0 18.5 20.5 21.4 13.6 -8.4 -17.5 -18.1 -8.1 24

25 Other insurance companies 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 25

26 Private pension funds 4.3 -2.8 -3.0 8.5 6.6 1.6 -6.7 -3.7 -1.6 -5.2 26

27 State and local govt. retirement funds 0.1 0.2 -0.2 0.3 -0.3 0.8 0.8 -0.4 -1.9 0.7 27

28 Government-sponsored enterprises (1) 9.6 -12.0 -8.3 5.0 6.0 5.7 11.5 32.1 41.3 3.6 28

29 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 29

30 ABS issuers 6.0 -6.0 13.4 9.3 12.1 14.7 44.8 58.0 41.1 26.1 30

31 Finance companies 4.8 5.6 8.0 5.1 6.5 11.2 -1.7 2.5 -3.1 4.2 31

32 Mortgage companies 3.2 11.8 -12.7 5.2 20.1 -0.0 11.2 0.1 -0.0 -24.0 32

33 REITs 2.4 0.0 1.0 1.7 -0.3 -0.7 -0.7 1.1 0.6 4.7 33

(1) FHLB loans to savings institutions are included in other loans and advances.
FFA, 1985-1994, Z.1, December 9, 2004 41

F.218 Home Mortgages (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net borrowing 172.2 202.9 239.8 222.9 226.9 206.9 164.8 168.2 159.5 180.2 1

 2 Household sector 175.0 197.4 220.4 214.3 225.5 201.4 175.7 174.0 157.4 169.3 2

 3 Nonfinancial corporate business -1.3 0.2 1.3 1.2 -0.2 0.6 -2.7 -1.7 -0.1 1.3 3

 4 Nonfarm noncorporate business -1.4 5.3 18.2 7.4 1.6 4.9 -8.3 -4.2 2.2 9.6 4

 5 Net change in assets 172.2 202.9 239.8 222.9 226.9 206.9 164.8 168.2 159.5 180.2 5

 6 Household sector 10.3 0.3 17.8 5.6 9.0 11.3 1.5 -7.4 -9.0 -9.0 6

 7 Nonfinancial corporate business 3.7 3.6 3.9 -1.5 8.9 5.6 3.0 -0.3 -5.2 1.8 7

 8 Nonfarm noncorporate business 0.6 0.2 -2.3 5.8 -5.5 -2.6 -0.7 0.6 -1.3 0.7 8

 9 State and local governments 5.9 3.9 1.2 2.5 4.7 3.6 2.0 -0.6 -6.0 1.0 9

10 Federal government 0.9 -0.7 -3.3 0.3 0.3 16.6 -0.9 -0.5 -6.0 -3.9 10

11 Commercial banking 17.4 20.9 36.9 54.0 50.5 56.9 22.1 26.3 53.4 57.7 11

12 Savings institutions 30.5 6.6 43.4 57.8 -9.0 -60.0 -61.8 -48.7 -19.6 7.6 12

13 Credit unions 3.6 8.2 10.5 8.2 6.8 4.9 3.1 1.0 2.2 6.1 13

14 Bank personal trusts and estates -0.0 -0.5 -0.8 -0.0 0.4 0.1 -0.1 -0.2 -0.3 -0.2 14

15 Life insurance companies -1.7 0.4 0.4 -2.1 1.1 0.8 -2.4 0.6 -2.4 -0.3 15

16 Private pension funds 0.7 -0.5 -2.6 1.4 2.6 0.0 -1.5 -0.8 -0.0 0.5 16

17 State and local govt. retirement funds -0.1 -0.6 0.3 -0.1 0.0 0.1 0.2 -0.3 0.1 0.4 17

18 Government-sponsored enterprises 12.2 -5.2 -2.5 5.8 5.3 5.3 11.1 30.5 39.8 2.6 18

19 Agency- and GSE-backed mortgage pools 77.6 159.3 133.4 70.7 120.2 147.3 139.3 117.8 86.1 115.3 19

20 ABS issuers 5.4 -7.4 11.2 7.1 8.5 11.9 39.6 48.3 28.8 18.5 20

21 Finance companies 2.6 3.2 4.1 2.3 2.9 6.1 -1.0 1.5 -1.8 2.5 21

22 Mortgage companies 2.8 11.0 -11.8 5.0 20.2 -0.9 11.3 -0.4 -0.5 -24.0 22

23 REITs 0.1 -0.0 0.0 0.1 -0.0 -0.0 -0.1 0.8 1.1 2.8 23

 Memo:

24 Home equity loans included above (2) ND ND ND ND ND ND 6.8 -4.1 -7.5 12.8 24

25 Commercial banking ND ND ND ND ND ND 7.7 -0.1 -1.4 8.4 25

26 Savings institutions ND ND ND ND ND ND -1.4 -5.2 -3.8 -0.4 26

27 Credit unions ND ND ND ND ND ND 1.2 -0.8 -1.3 1.6 27

28 ABS issuers ND ND ND ND ND ND 0.3 0.6 0.7 0.7 28

29 Finance companies ND ND ND ND ND ND -1.0 1.5 -1.8 2.5 29

(1) Mortgages on 1-4 family properties.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. 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 28.5 33.5 17.3 18.1 10.8 -1.4 -3.3 -12.9 -4.4 0.5 1

 2 Nonfinancial corporate business 0.7 0.8 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 2

 3 Nonfarm noncorporate business 27.9 32.6 16.5 17.3 9.9 -2.3 -4.2 -13.8 -6.3 -3.6 3

 4 Federal government -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 4

 5 REITs 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 1.2 3.2 5

 6 Net change in assets 28.5 33.5 17.3 18.1 10.8 -1.4 -3.3 -12.9 -4.4 0.5 6

 7 Household sector 0.4 1.0 -1.6 -0.1 0.3 -0.2 -0.0 0.3 0.3 -0.0 7

 8 Nonfinancial corporate business -0.2 1.0 2.0 -3.1 2.0 -1.7 -1.0 -0.2 0.1 0.4 8

 9 Nonfarm noncorporate business 0.7 1.0 -0.9 2.5 -3.2 0.8 -0.6 -0.0 -1.1 0.6 9

10 State and local governments 3.2 7.0 7.0 1.1 1.2 1.0 1.0 0.7 0.4 0.7 10

11 Federal government 0.0 0.7 0.4 0.3 0.5 10.6 8.9 -4.2 -4.5 -2.6 11

12 Commercial banking 3.1 7.7 1.4 0.9 4.7 -2.3 -0.5 1.1 0.8 0.9 12

13 Savings institutions 14.5 7.2 4.6 5.6 -4.8 -14.2 -11.9 -10.1 -2.4 -3.0 13

14 Life insurance companies 1.0 1.1 1.6 2.0 2.3 2.1 0.4 -2.1 0.3 0.3 14

15 Private pension funds 1.6 0.3 -1.1 1.1 1.3 -2.8 -0.3 -0.2 -0.0 0.3 15

16 State and local govt. retirement funds -0.0 0.0 -0.4 -0.2 -0.3 -0.2 -0.2 -0.7 -0.1 0.2 16

17 Government-sponsored enterprises 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 17

18 Agency- and GSE-backed mortgage pools 1.5 5.1 4.5 5.2 4.1 3.0 -2.6 -2.3 -1.4 -0.0 18

19 ABS issuers 0.0 0.2 0.4 0.4 -0.0 -0.1 2.9 2.8 1.8 1.5 19

20 Finance companies 0.2 0.2 0.4 0.3 0.4 0.5 -0.1 0.1 -0.1 0.2 20

21 Mortgage companies 0.2 0.7 -0.9 0.3 -0.2 1.0 -0.1 0.3 0.1 0.0 21

22 REITs 0.4 0.0 0.3 0.5 -0.1 -0.2 -0.1 0.0 -0.3 0.2 22
42 FFA, 1985-1994, Z.1, December 9, 2004

F.220 Commercial Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net borrowing 69.8 60.9 68.4 86.0 29.9 21.8 -13.6 -43.6 -34.1 -12.5 1

 2 Household sector 2.2 5.2 6.1 5.8 13.8 9.7 12.9 5.4 7.7 -7.4 2

 3 Nonfinancial corporate business 6.8 16.8 41.5 24.6 -5.9 17.8 -12.4 -37.1 -25.8 -0.0 3

 4 Nonfarm noncorporate business 60.9 38.8 20.6 55.4 21.8 -6.2 -14.5 -12.3 -18.3 -11.7 4

 5 REITs 0.0 0.2 0.2 0.2 0.2 0.4 0.3 0.4 2.4 6.6 5

 6 Net change in assets 69.8 60.9 68.4 86.0 29.9 21.8 -13.6 -43.6 -34.1 -12.5 6

 7 Household sector 0.9 -1.1 -1.9 -0.7 0.6 -0.5 -0.0 0.6 0.6 -0.1 7

 8 Nonfinancial corporate business 2.0 -11.5 -4.6 21.3 -24.7 -5.5 4.2 1.5 -2.6 2.0 8

 9 Nonfarm noncorporate business 3.4 -0.5 -3.6 1.6 -4.0 -2.4 -3.8 -1.4 -0.9 0.5 9

10 State and local governments 0.7 0.7 0.6 0.4 0.4 0.7 0.6 -0.1 0.2 0.5 10

11 Federal government 0.3 0.2 -1.8 -1.3 -0.9 9.0 7.7 -6.6 -4.5 -7.3 11

12 Commercial banking 28.2 43.6 50.2 26.1 37.4 23.4 9.1 -9.6 -7.9 4.6 12

13 Savings institutions 10.3 5.3 4.8 5.4 -7.1 -25.2 -22.4 -18.5 -7.5 -6.8 13

14 Life insurance companies 16.5 21.4 17.6 20.8 17.9 9.6 -5.6 -15.1 -16.0 -8.5 14

15 Other insurance companies 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 15

16 Private pension funds 1.9 -2.6 0.6 5.9 2.7 4.3 -4.9 -2.7 -1.5 -6.0 16

17 State and local govt. retirement funds 0.2 0.8 -0.1 0.5 -0.1 0.9 0.8 0.6 -1.9 0.1 17

18 Agency- and GSE-backed mortgage pools 0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 18

19 ABS issuers 0.6 1.2 1.9 1.8 3.6 2.9 2.3 6.9 10.4 6.1 19

20 Finance companies 2.0 2.2 3.5 2.5 3.2 4.6 -0.6 0.9 -1.1 1.5 20

21 Mortgage companies 0.1 0.2 0.1 -0.0 0.1 -0.0 0.0 0.3 0.3 0.0 21

22 REITs 1.9 0.0 0.7 1.1 -0.2 -0.5 -0.5 0.3 -0.3 1.7 22

F.221 Farm Mortgages

Billions of dollars

 1 Net borrowing (Farm business) -6.6 -10.7 -7.4 -4.8 -2.5 -1.6 0.3 0.5 0.8 2.3 1

 2 Net change in assets -6.6 -10.7 -7.4 -4.8 -2.5 -1.6 0.3 0.5 0.8 2.3 2

 3 Household sector -3.4 -4.4 -2.1 -3.1 -1.3 -1.6 0.8 0.7 0.7 0.3 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.1 4

 5 State and local governments 0.0 0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 5

 6 Federal government 0.6 0.3 -0.5 -0.4 -0.6 -0.7 -0.4 -0.6 -0.5 -0.3 6

 7 Commercial banking 1.2 1.4 1.7 1.0 1.2 0.6 1.2 1.4 1.0 1.7 7

 8 Savings institutions 0.2 -0.0 0.1 -0.1 -0.0 -0.2 -0.1 -0.1 -0.0 -0.0 8

 9 Life insurance companies -0.6 -0.9 -1.0 -0.3 0.0 1.2 -0.7 -0.8 -0.1 0.5 9

10 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Government-sponsored enterprises -4.5 -7.1 -5.5 -1.9 -1.8 -0.9 -0.5 -0.1 -0.2 0.1 11

12 Agency- and GSE-backed mortgage pools -0.2 -0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 12
FFA, 1985-1994, Z.1, December 9, 2004 43

F.222 Consumer Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities (Households) 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 134.8 1

 2 Net change in assets 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 134.8 2

 3 Nonfinancial corporate business 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 16.1 9.4 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 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.3 5

 6 Commercial banking 38.4 23.0 13.9 26.7 22.5 -1.3 -11.8 -7.3 32.8 63.1 6

 7 Savings institutions 13.4 5.3 2.4 1.4 -4.2 -12.9 -7.5 -4.8 0.5 0.6 7

 8 Credit unions 6.1 3.1 4.0 7.3 3.3 -0.1 -1.3 1.4 9.9 18.0 8

 9 Government-sponsored enterprises 1.2 1.4 1.9 3.2 2.8 3.2 1.9 3.1 2.6 3.6 9

10 ABS issuers 0.0 0.0 0.0 0.0 20.2 29.3 26.3 17.3 10.2 15.6 10

11 Finance companies 20.7 18.6 3.1 1.2 -0.7 -6.5 -12.2 -3.3 -11.1 18.3 11

F.223 Trade Credit

Billions of dollars

 1 Net change in trade payables 83.2 33.6 83.1 97.7 76.8 54.0 52.9 68.4 78.6 120.0 1

 2 Household sector 3.1 2.3 4.7 2.4 16.2 9.3 9.4 5.9 6.0 5.2 2

 3 Nonfinancial corporate business 43.0 -1.7 44.4 53.7 21.8 28.4 23.1 33.4 36.4 77.3 3

 4 Nonfarm noncorporate business 5.4 1.7 5.4 2.4 5.5 1.3 -0.3 6.9 0.7 6.5 4

 5 Farm business -2.6 -2.9 -1.2 0.8 0.5 0.5 0.2 0.2 1.0 1.0 5

 6 State and local governments 21.3 20.7 20.7 20.8 22.1 23.3 22.1 22.9 25.5 27.7 6

 7 Federal government 10.6 14.6 7.5 8.0 8.6 -5.7 -5.3 -2.8 3.0 -0.4 7

 8 Rest of the world -0.2 -0.8 2.5 7.7 2.8 -1.2 3.0 1.2 3.4 3.6 8

 9 Brokers and dealers 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 9

10 Net change in trade receivables 60.7 15.6 82.7 119.1 62.6 49.5 -2.4 38.3 56.4 100.8 10

11 Nonfinancial corporate business 45.2 2.1 63.9 90.6 42.1 29.2 -5.8 27.6 41.5 71.9 11

12 Nonfarm noncorporate business 4.5 8.0 1.4 12.0 6.8 2.7 -1.1 7.1 4.9 16.3 12

13 State and local governments 3.8 0.9 3.8 4.8 3.5 2.4 2.4 3.1 3.6 5.4 13

14 Federal government 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 14

15 Rest of the world 0.5 1.0 0.2 3.1 2.4 6.2 0.8 3.0 4.5 1.8 15

16 Other insurance companies 2.2 4.9 3.6 6.8 2.8 2.0 1.9 -0.1 1.7 2.2 16

17 ABS issuers 0.9 0.9 1.8 1.7 1.9 8.7 4.1 4.3 2.6 6.8 17

18 Discrepancy 22.5 18.0 0.4 -21.4 14.2 4.5 55.3 30.1 22.2 19.2 18

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities 43.3 9.9 -27.4 3.0 15.6 3.5 51.4 4.6 61.4 -0.1 1

 2 Household sector 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 24.5 3.2 -11.1 1.3 16.6 7.2 35.2 6.2 38.7 1.0 4

 5 Customer credit balances (HH) 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 5

 6 From U.S.-chartered commercial banks 6.8 -5.9 -3.2 -0.4 4.2 -5.4 2.2 3.1 4.1 -4.6 6

 7 From foreign banking offices in U.S. 4.2 0.1 -2.1 -0.1 0.1 3.4 8.4 13.9 8.6 -1.2 7

 8 Net change in assets 43.3 9.9 -27.4 3.0 15.6 3.5 51.4 4.6 61.4 -0.1 8

 9 Household sector 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Commercial banking 11.0 -5.8 -5.3 -0.5 4.3 -2.0 10.6 16.9 12.7 -5.7 11

12 Brokers and dealers 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 12
44 FFA, 1985-1994, Z.1, December 9, 2004

F.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Life insurance reserves:

 1 Net change in liabilities 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 1

 2 Federal government 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 2

 3 Life insurance companies 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 3

 4 Net change in assets (Households) 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 4

 Pension fund reserves:

 5 Net change in liabilities 286.4 191.1 161.9 217.1 244.0 208.0 232.0 223.4 254.7 248.7 5

 6 Life insurance companies 55.6 63.4 30.9 69.2 52.3 79.7 38.8 57.2 62.3 72.2 6

 7 Private pension funds (1) 137.2 26.1 36.6 68.5 61.9 27.6 91.4 64.8 99.7 87.1 7

 8 State and local govt. retirement funds 53.7 72.0 63.1 45.0 93.1 64.6 60.3 57.3 50.8 46.3 8

 9 Federal government retirement funds (2) 39.9 29.6 31.4 34.4 36.7 36.2 41.5 44.0 41.8 43.0 9

10 Net change in assets (Households) (3) 286.4 191.1 161.9 217.1 244.0 208.0 232.0 223.4 254.7 248.7 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 1.3 6.6 6.2 1.2 0.7 1.9 -5.9 10.6 8.9 3.2 1

 businesses

 2 Nonfinancial corporate business -3.2 3.8 5.1 -3.5 -6.1 0.0 -9.4 6.5 5.4 -0.4 2

 3 Nonfarm noncorporate business 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 3

 4 U.S.-chartered commercial banks 0.1 -0.0 0.1 0.2 0.2 -0.2 -0.0 0.2 0.5 0.7 4

 5 Savings institutions 0.1 0.1 0.1 0.1 -0.1 -0.2 0.2 0.2 0.6 -0.9 5

 6 Life insurance companies 0.4 0.7 0.2 0.5 0.9 0.5 1.1 1.4 1.6 1.0 6

 7 Other insurance companies 0.1 0.2 0.5 0.6 0.7 0.7 1.1 1.0 1.4 0.9 7

 8 Finance companies 0.0 0.0 0.3 0.2 0.4 0.4 0.5 0.6 0.8 0.8 8

 9 Brokers and dealers 0.3 0.2 -0.6 0.1 0.1 0.1 0.2 0.0 0.5 -0.2 9

10 Net change in business taxes receivable -1.6 1.4 -5.4 -2.7 -0.3 -5.2 -4.5 0.3 -8.4 -11.2 10

11 State and local governments 4.0 2.7 0.5 3.7 3.5 -0.5 2.1 0.3 -5.6 -5.4 11

12 Federal government -5.6 -1.4 -5.9 -6.4 -3.8 -4.7 -6.6 0.0 -2.7 -5.9 12

13 Discrepancy 2.9 5.2 11.6 3.9 1.0 7.1 -1.4 10.2 17.3 14.5 13

F.227 Investment in Bank Personal Trusts and Estates

Billions of dollars

 1 Liab.: Bank personal trusts and estates 11.2 16.9 16.3 0.9 19.3 32.9 17.5 -7.1 0.9 17.8 1

 2 Asset: Household sector 11.2 16.9 16.3 0.9 19.3 32.9 17.5 -7.1 0.9 17.8 2

F.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment -43.2 -13.0 -31.1 -31.4 -41.8 22.4 32.6 40.6 49.0 37.5 1

 2 Nonfarm noncorporate business -63.3 -30.1 -32.7 -29.3 -39.8 20.0 35.4 35.1 55.7 30.6 2

 3 Farm business 20.0 16.0 2.4 -2.3 -0.2 3.1 -3.2 5.4 -7.6 8.0 3

 4 Brokers and dealers 3.3 5.0 -6.4 5.6 5.4 -5.7 10.3 6.0 6.0 -6.9 4
FFA, 1985-1994, Z.1, December 9, 2004 45

F.229 Total Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 517.2 224.1 365.9 498.2 600.5 188.7 319.2 352.4 420.4 335.6 1

 2 Household sector 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 2

 3 Nonfinancial corporate business 242.6 48.0 136.6 300.1 295.9 84.3 88.8 70.4 120.4 83.1 3

 4 Nonfarm noncorporate business 29.8 9.6 -5.8 18.2 22.2 -2.6 3.6 14.0 5.1 16.1 4

 5 Federal government 40.5 32.7 20.9 42.4 50.7 16.3 52.7 39.7 37.8 41.5 5

 6 Rest of the world 7.9 14.6 39.3 16.2 61.2 43.9 32.3 64.0 121.1 86.8 6

 7 Monetary authority 0.1 -0.1 1.0 0.0 4.2 -5.6 1.1 -1.8 1.0 1.4 7

 8 Commercial banking 35.0 34.0 43.7 48.6 102.5 -2.3 32.9 59.0 90.4 82.4 8

 9 Savings institutions 19.6 9.9 8.0 12.6 2.7 15.7 -1.4 0.4 -3.8 3.7 9

10 Credit unions -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 10

11 Life insurance companies 14.0 18.6 38.8 10.3 22.3 4.9 31.2 16.8 25.3 12.3 11

12 Other insurance companies 37.3 42.7 42.4 31.3 34.0 26.5 15.5 23.1 15.8 16.4 12

13 Government-sponsored enterprises 8.8 8.2 -2.4 1.1 6.3 4.6 7.3 12.5 -4.9 -24.9 13

14 Finance companies 11.6 -1.9 30.9 11.9 -5.2 4.4 3.2 6.3 11.5 14.8 14

15 Mortgage companies 2.0 2.8 -1.5 5.1 10.1 0.0 13.6 -7.9 -0.1 -12.5 15

16 REITs 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 16

17 Brokers and dealers 6.9 7.0 1.1 1.8 -6.9 5.0 4.0 13.1 15.6 1.6 17

18 Funding corporations 60.8 -1.0 10.4 -4.8 1.6 -5.6 33.0 42.4 -15.8 8.1 18

19 Net change in assets 354.5 304.0 441.8 472.0 496.2 253.7 345.5 296.9 531.3 494.1 19

20 Household sector 28.9 18.3 26.8 18.6 15.6 18.9 10.9 17.9 13.9 14.1 20

21 Nonfinancial corporate business 122.4 107.6 161.4 231.0 109.5 113.5 39.1 75.2 237.1 163.3 21

22 Nonfarm noncorporate business 4.2 10.2 1.7 14.7 8.8 -4.1 8.1 3.5 14.2 18.6 22

23 Farm business 2.9 3.2 2.0 2.8 2.1 2.0 1.3 2.0 1.5 1.3 23

24 State and local governments 6.0 1.7 3.9 -0.5 1.4 1.5 3.3 -3.7 -30.9 55.4 24

25 Federal government 1.4 0.5 1.3 1.0 15.4 34.3 36.1 15.4 -3.8 3.2 25

26 Rest of the world 25.6 22.6 77.1 67.5 88.2 40.8 71.3 32.2 78.0 57.6 26

27 Monetary authority 1.0 1.7 2.2 0.4 8.2 -2.0 -2.3 -2.2 2.6 2.6 27

28 Commercial banking 42.9 37.8 48.1 22.3 100.2 -22.1 16.5 69.3 77.6 74.4 28

29 Savings institutions 17.0 8.3 14.9 2.7 4.4 11.0 -15.4 -4.1 -17.2 -8.1 29

30 Credit unions 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 30

31 Bank personal trusts and estates 0.9 -0.3 1.2 -0.1 1.4 -0.4 2.2 1.8 3.5 -3.1 31

32 Life insurance companies 5.6 7.0 13.0 8.6 8.7 -13.8 4.4 -8.1 -7.3 22.2 32

33 Other insurance companies -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 33

34 Private pension funds 28.2 18.5 28.8 21.1 5.5 -18.1 31.4 2.6 11.9 15.1 34

35 State and local govt. retirement funds 1.4 2.4 -1.5 -0.4 47.3 17.8 11.5 -0.9 -4.9 5.4 35

36 Federal government retirement funds 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 36

37 Money market mutual funds 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 37

38 Mutual funds 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 38

39 Government-sponsored enterprises -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 39

40 Finance companies 7.0 8.7 13.2 8.4 -1.4 4.3 29.8 -5.8 34.9 -7.6 40

41 REITs 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 41

42 Brokers and dealers 9.7 10.3 -2.7 10.5 23.0 29.4 34.3 52.6 49.6 24.8 42

43 Funding corporations 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 43

44 Discrepancy 162.7 -79.9 -75.9 26.1 104.2 -65.0 -26.3 55.6 -110.9 -158.5 44
46 FFA, 1985-1994, Z.1, December 9, 2004

F.230 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world 14.8 19.1 31.2 17.2 38.5 32.1 36.9 45.7 84.0 80.2 1

 2 Equity -1.7 1.1 4.9 -6.7 6.4 8.7 17.7 14.6 24.6 33.7 2

 3 Reinvested earnings 19.7 14.0 23.3 18.0 18.5 27.6 23.5 21.9 36.7 31.0 3

 4 Intercompany accounts -3.3 3.9 3.0 5.8 13.5 -4.3 -4.3 9.1 22.7 15.5 4

 5 Asset: Nonfinancial corporate business 14.3 19.0 29.7 12.9 25.7 35.0 35.9 41.2 57.9 78.5 5

 6 Commercial banking 0.3 -1.7 -1.2 -0.1 0.2 0.2 -1.0 2.0 2.0 2.6 6

 7 Life insurance companies 0.1 -0.2 0.0 0.0 -0.1 0.6 0.6 0.3 -0.1 0.6 7

 8 Other insurance companies -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 8

 9 Finance companies 0.1 1.2 -0.7 2.3 11.0 -5.4 1.3 3.7 20.4 0.7 9

10 Brokers and dealers 0.1 -0.0 1.7 -0.7 0.0 0.3 0.5 1.2 1.0 -3.9 10

 Foreign direct investment in U.S. (1):

11 Liab.: Nonfinancial corporate business 17.5 31.9 52.5 69.8 62.4 59.1 -1.3 7.1 20.2 45.2 11

12 Nonfarm noncorporate business 0.6 1.1 0.6 0.8 1.4 0.7 -0.0 0.1 0.0 0.0 12

13 Commercial banking 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 13

14 Life insurance companies 0.7 2.2 0.9 1.3 1.4 1.9 1.0 1.2 0.2 1.0 14

15 Other insurance companies 0.3 0.5 1.0 1.2 2.2 2.5 3.5 0.5 0.7 1.8 15

16 Finance companies -0.5 2.1 -0.2 -0.5 7.2 -3.5 1.3 1.4 23.6 1.3 16

17 Brokers and dealers -0.3 0.6 2.1 0.9 1.4 0.1 2.0 0.0 0.1 0.8 17

18 Funding corporations 0.0 -4.4 -0.1 -18.5 -10.0 -13.2 14.2 6.9 4.3 -7.5 18

19 Asset: Rest of the world 19.7 35.4 58.5 57.7 68.3 48.5 23.2 19.8 51.4 46.1 19

20 Equity 15.2 25.1 34.3 45.0 51.8 56.2 45.8 31.6 29.7 37.2 20

21 Reinvested earnings -0.7 -1.0 -0.5 1.1 -8.1 -14.1 -18.3 -11.6 -7.1 4.9 21

22 Intercompany accounts 5.2 11.3 24.7 11.6 24.6 6.3 -4.3 -0.2 28.8 4.0 22

 Federal government equity in IBRD, etc.:

23 Liab.: Rest of the world 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 23

24 Asset: Federal government 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 24

 Federal Reserve Bank stock:

25 Liab.: Monetary authority 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 25

26 Asset: Commercial banking 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 26

 Equity in govt.-sponsored enterprises:

27 Liab.: Government-sponsored enterprises 0.8 0.5 1.3 2.0 -0.6 -2.5 -0.7 -0.2 1.6 1.8 27

28 Asset: Nonfin. corporate business (FNMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Nonfarm noncorporate (BC) -0.0 -0.1 -0.0 0.0 0.1 -0.1 0.0 -0.0 0.2 0.2 29

30 Farm business (FICB and FLB) -0.3 -0.6 -0.5 0.1 -0.9 -0.2 0.2 -0.1 0.1 0.0 30

31 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Commercial banks (FHLB) 0.0 0.0 0.0 0.0 0.0 0.1 0.6 0.7 1.3 1.6 32

33 Savings institutions (FHLB) 1.1 1.2 1.8 1.9 0.2 -2.4 -1.5 -0.9 0.0 -0.0 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 15.6 16.7 19.8 21.3 8.6 5.4 19.4 27.8 31.6 17.5 36

37 Savings institutions 0.7 0.2 -0.9 -0.0 -0.0 -0.4 -1.0 -1.0 0.4 -0.0 37

38 Finance companies 10.8 5.4 -3.8 -9.9 -1.1 -8.1 -2.1 1.0 0.6 3.1 38

39 Mortgage companies 2.0 2.8 -1.5 5.1 10.1 0.0 13.6 -7.9 -0.1 -12.5 39

40 Brokers and dealers 0.0 0.0 15.0 2.4 1.2 -12.3 -24.7 10.2 12.0 9.6 40

41 Asset: Bank holding companies 29.2 25.2 28.6 18.8 18.7 -15.4 5.1 30.1 44.7 17.7 41

 NFC investment in finance company subs.:

42 Liab.: Finance companies 4.7 2.1 -6.2 -3.3 -0.4 9.5 -2.1 1.0 0.6 3.1 42

43 Asset: Nonfinancial corporate business 4.7 2.1 -6.2 -3.3 -0.4 9.5 -2.1 1.0 0.6 3.1 43

 Funding corp. investment in subs.:

44 Liab.: Foreign banking offices in U.S. 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 44

45 Brokers and dealers 8.5 3.4 2.4 6.8 -0.2 5.4 10.7 19.2 17.2 16.1 45

46 Asset: Funding corporations 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 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, 1985-1994, Z.1, December 9, 2004 47

F.231 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 1

 2 Asset: Federal government -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 2

 Postal Savings System deposits:

 3 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 Deposits at Federal Home Loan Banks:

 5 Liab.: Government-sponsored enterprises 4.5 3.6 -6.6 -1.3 6.9 4.8 1.0 -0.9 -7.0 -7.8 5

 6 Asset: Savings institutions 4.5 3.6 -6.6 -1.3 6.9 4.8 1.0 -0.9 -7.0 -7.8 6

 Deferred and unpaid life insurance premiums:

 7 Liab.: Household sector 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 7

 8 Asset: Life insurance companies 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 8

 Life insurance company reserves:

 9 Liab.: Life insurance companies 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 9

10 Health 2.3 2.5 2.7 2.9 3.0 3.6 4.8 6.9 6.2 6.6 10

11 Policy dividend accumulation 1.2 0.5 1.0 1.2 1.6 1.3 -0.2 0.6 0.5 0.1 11

12 Policy and contract claims 0.6 1.1 1.6 2.2 0.7 0.7 1.3 1.0 0.9 1.4 12

13 Asset: Household sector 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 13

 Policy payables:

14 Liab.: Other insurance companies 37.0 42.2 41.4 30.1 31.8 24.0 12.0 22.6 15.2 14.5 14

15 Asset: Household sector 24.9 14.2 21.4 12.4 10.3 13.4 5.0 9.5 6.3 6.1 15

16 Nonfinancial corporate business 4.2 18.8 23.4 15.0 14.2 13.2 2.1 13.5 6.6 5.7 16

17 Nonfarm noncorporate business 4.8 5.4 -5.9 0.0 4.3 -4.8 3.8 -2.5 0.8 1.4 17

18 Farm business 3.2 3.8 2.5 2.8 2.9 2.2 1.1 2.1 1.4 1.3 18

 Unallocated insurance company contracts:

19 Liab.: Life insurance companies 0.0 13.9 33.5 1.9 12.3 9.6 20.8 5.6 12.2 3.8 19

20 Asset: Private pension funds 0.0 13.9 33.5 1.9 12.3 9.6 20.8 5.6 12.2 3.8 20

 Pension fund contributions payable:

21 Liab.: Nonfinancial corporate business 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 21

22 Asset: Private pension funds 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 22

 Securities borrowed (net):

23 Liab.: Funding corporations 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 23

24 Asset: Brokers and dealers 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 24

 Nonmarketable government securities:

25 Liab.: Federal government 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 25

26 Asset: Federal government retirement funds 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 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, 1985-1994, Z.1, December 9, 2004

F.232 Unidentified Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 342.8 36.4 131.7 308.2 357.4 -4.3 123.0 95.1 104.2 76.2 1

 2 Nonfinancial corporate business 219.2 16.1 82.6 231.5 226.2 19.1 78.1 53.4 87.8 26.2 2

 3 Nonfarm noncorporate business 29.1 8.5 -6.4 17.4 20.9 -3.3 3.6 13.8 5.1 16.1 3

 4 Federal government 0.6 3.2 -9.4 9.6 16.2 -17.1 14.3 -0.1 0.7 3.9 4

 5 Rest of the world -8.3 -5.0 6.8 -2.0 21.7 10.3 -7.1 16.8 35.7 5.1 5

 6 Monetary authority -0.1 -0.2 0.8 -0.0 4.1 -5.8 0.9 -2.2 0.6 1.1 6

 7 Commercial banking 15.8 11.5 15.1 11.8 89.0 -6.7 11.4 24.7 63.2 61.9 7

 8 U.S.-chartered commercial banks 9.7 1.8 -7.2 4.6 10.4 0.0 8.2 -7.6 14.6 31.3 8

 9 Foreign banking offices in U.S. -1.3 -0.9 16.9 -1.5 73.1 -2.0 18.8 21.4 32.9 29.0 9

10 Bank holding companies 6.1 13.3 6.4 8.1 4.9 -5.6 -14.7 9.9 14.2 -0.2 10

11 Banks in U.S.-affiliated areas 1.3 -2.7 -1.1 0.7 0.6 0.9 -0.9 1.1 1.4 1.8 11

12 Savings institutions 18.9 9.7 8.9 12.6 2.7 16.1 -0.4 1.4 -4.2 3.7 12

13 Credit unions -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 13

14 Life insurance companies 9.3 -1.6 -0.9 0.9 3.3 -12.2 3.6 1.5 5.3 -0.5 14

15 Government-sponsored enterprises 3.5 4.1 2.9 0.5 -0.0 2.3 6.9 13.5 0.5 -19.0 15

16 Finance companies -3.4 -11.5 41.1 25.7 -10.9 6.4 6.2 3.0 -13.4 7.3 16

17 REITs 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 17

18 Brokers and dealers -1.3 3.0 -18.4 -8.2 -9.3 11.7 16.0 -16.3 -13.7 -24.8 18

19 Funding corporations 59.3 -1.7 7.3 5.7 -4.5 -24.5 -12.7 -15.1 -63.6 -9.0 19

20 Net change in assets 180.1 116.4 207.6 282.1 253.1 60.6 149.2 39.5 215.2 234.7 20

21 Nonfinancial corporate business 99.3 67.7 114.5 206.4 70.0 55.8 3.3 19.5 171.9 76.0 21

22 Nonfarm noncorporate business -0.5 4.9 7.6 14.6 4.4 0.8 4.2 6.0 13.2 17.0 22

23 State and local governments 6.0 1.7 3.9 -0.5 1.4 1.5 3.3 -3.7 -30.9 55.4 23

24 Federal government 0.0 0.0 0.0 0.0 14.3 32.8 33.6 13.9 -5.3 1.7 24

25 Rest of the world 5.9 -12.9 18.6 9.7 19.9 -7.7 48.1 12.3 26.6 11.5 25

26 Monetary authority 1.0 1.7 2.2 0.4 8.2 -2.0 -2.3 -2.2 2.6 2.6 26

27 Commercial banking 13.3 14.2 20.5 3.5 81.2 -7.2 11.5 36.1 29.3 52.3 27

28 U.S.-chartered commercial banks 12.9 3.5 2.2 0.9 11.9 3.9 -0.7 -2.3 -4.5 7.2 28

29 Foreign banking offices in U.S. 1.2 6.5 17.6 2.0 66.3 -24.4 14.3 34.3 33.8 37.5 29

30 Bank holding companies -0.1 6.3 1.3 -0.7 2.2 13.2 -1.6 4.8 0.5 7.7 30

31 Banks in U.S.-affiliated areas -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 31

32 Savings institutions 11.4 3.5 19.7 2.1 -2.7 8.6 -14.9 -2.3 -10.2 -0.3 32

33 Credit unions 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 33

34 Bank personal trusts and estates 0.9 -0.3 1.2 -0.1 1.4 -0.4 2.2 1.8 3.5 -3.1 34

35 Life insurance companies 5.4 8.6 11.8 8.2 8.0 -14.5 4.6 -8.4 -7.7 21.0 35

36 Private pension funds 22.4 4.5 -6.2 20.5 -14.1 -33.8 -1.5 -12.9 -12.6 -0.4 36

37 State and local govt. retirement funds 1.4 2.4 -1.5 -0.4 47.3 17.8 11.5 -0.9 -4.9 5.4 37

38 Money market mutual funds 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 38

39 Mutual funds 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 39

40 Government-sponsored enterprises -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 40

41 Finance companies 6.9 7.4 13.9 6.1 -12.4 9.7 28.5 -9.5 14.5 -8.3 41

42 REITs 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 42

43 Brokers and dealers 8.1 5.1 -7.5 3.1 6.9 -3.1 2.3 0.8 5.0 4.2 43

44 Discrepancy 162.7 -79.9 -75.9 26.1 104.2 -65.0 -26.3 55.6 -110.9 -158.5 44
FFA, 1985-1994, Z.1, December 9, 2004 49

F.11 Sector Discrepancies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 All sectors 158.6 -81.0 -92.9 28.3 129.0 -138.4 -85.3 6.3 -169.0 -179.1 1

 2 Household sector -20.2 -137.1 -104.4 -92.4 -16.1 -165.6 -60.4 -36.6 -73.7 -98.2 2

 3 Nonfinancial corporate business 157.1 41.7 48.0 114.7 142.6 36.2 2.4 30.7 -109.9 -44.4 3

 4 State and local governments 7.0 4.8 9.8 16.2 -14.4 -16.7 -1.8 -9.6 26.4 -56.5 4

 5 Federal government 30.7 26.1 2.8 42.7 38.6 -16.1 18.8 37.7 17.1 22.1 5

 6 Rest of the world 8.8 20.3 -19.3 -28.7 38.1 22.8 -50.9 -58.2 -8.5 -18.5 6

 7 Financial sectors -24.8 -36.8 -29.9 -24.2 -59.9 0.9 6.7 42.2 -20.3 16.4 7

 8 Monetary authority -1.8 -2.6 -2.4 -0.0 -1.8 -2.6 -1.0 0.4 -0.4 -2.9 8

 9 Commercial banking 4.2 3.3 16.3 35.8 -9.6 1.4 23.3 25.6 30.4 41.0 9

10 Savings institutions -1.3 -4.9 -5.3 -4.7 7.7 19.5 15.3 -0.5 -9.7 -4.5 10

11 Credit unions -0.5 -1.2 -0.9 -1.1 -0.7 -0.4 0.2 1.0 1.0 2.1 11

12 Bank personal trusts and estates 1.0 -1.2 3.2 -1.3 -0.3 3.2 1.4 0.1 -0.7 -1.0 12

13 Life insurance companies -15.4 -15.3 -20.2 -14.5 -18.6 -12.7 -19.6 -4.4 -30.6 -11.3 13

14 Other insurance companies -0.6 -2.9 -5.7 -12.9 -7.7 -7.0 -14.8 5.0 -13.7 -21.0 14

15 Mutual funds 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 15

16 Government-sponsored enterprises 1.1 -0.6 -1.0 -0.5 0.3 -0.4 -1.2 -1.5 -2.1 -2.6 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 -6.8 -8.8 -10.0 -13.3 -11.5 -3.1 9.3 15.8 4.1 17.6 18

19 REITs 0.9 2.2 1.0 3.5 0.8 3.0 3.6 3.6 11.5 8.7 19

20 Brokers and dealers -6.9 -8.7 1.1 -10.9 -12.3 1.2 -12.5 -6.0 -14.4 1.3 20

F.12 Instrument Discrepancies

Billions of dollars

 1 All types 158.6 -81.0 -92.9 28.3 129.0 -138.4 -85.3 6.3 -169.0 -179.1 1

 2 Treasury currency -0.2 -0.0 -0.1 -0.1 -0.2 0.2 -0.6 -0.2 -0.2 -0.2 2

 3 Foreign deposits 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 3

 4 Net interbank transactions 5.3 -2.8 -4.0 -3.0 -4.4 1.6 26.2 -4.9 4.2 -2.7 4

 5 Security RPs -25.7 14.6 -15.7 0.2 9.0 -58.2 -33.4 3.0 53.2 73.5 5

 Mail floats:

 6 Federal government 1.3 -0.6 -0.0 1.6 8.4 3.3 -13.1 0.7 -1.5 -4.8 6

 7 Other 0.8 -8.9 0.4 0.8 -2.2 8.5 4.5 1.6 -1.3 -2.8 7

 8 Trade credit 22.5 18.0 0.4 -21.4 14.2 4.5 55.3 30.1 22.2 19.2 8

 9 Taxes payable 2.9 5.2 11.6 3.9 1.0 7.1 -1.4 10.2 17.3 14.5 9

10 Miscellaneous 162.7 -79.9 -75.9 26.1 104.2 -65.0 -26.3 55.6 -110.9 -158.5 10

11 Nonfinancial -16.7 -47.1 -21.7 19.6 -39.5 -66.1 -72.6 -87.0 -146.2 -160.1 11

 Nonfinancial components (sign reversed):

12 Statistical discrepancy (NIPA) 16.7 47.2 21.7 -19.7 39.5 66.1 72.6 102.8 139.8 142.5 12

13 Private wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -15.8 6.4 17.6 13
50 FFA, 1985-1994, Z.1, December 9, 2004

L.1 Credit Market Debt Outstanding (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total credit market debt owed by: 8628.9 9809.7 10820.5 11862.2 12830.4 13768.7 14428.7 15260.5 16211.3 17251.6 1

 2 Domestic nonfinancial sectors 7132.3 7975.1 8677.6 9461.7 10166.2 10849.6 11311.9 11830.2 12411.6 12989.9 2

 3 Federal government 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 3

 4 Nonfederal sectors 5542.5 6169.3 6727.8 7356.8 7914.9 8351.4 8535.6 8749.8 9075.1 9497.5 4

 5 Household sector 2277.5 2535.6 2752.2 3039.6 3333.8 3597.2 3787.3 3988.6 4227.6 4550.4 5

 6 Nonfinancial corporate business 1615.5 1839.5 2033.9 2234.2 2401.1 2533.1 2477.3 2502.9 2549.8 2682.9 6

 7 Nonfarm noncorporate business 798.0 886.0 956.3 1054.2 1100.5 1093.3 1058.5 1028.4 1007.9 1015.9 7

 8 Farm business 173.4 156.0 144.4 133.7 134.4 135.4 134.8 135.3 137.6 142.4 8

 9 State and local governments 677.9 752.1 841.0 895.0 945.2 992.3 1077.7 1094.5 1152.2 1105.9 9

10 Rest of the world 239.3 241.0 247.4 254.8 265.0 288.8 304.0 318.7 388.5 377.5 10

11 Financial sectors 1257.3 1593.6 1895.5 2145.8 2399.3 2630.3 2812.9 3111.6 3411.2 3884.2 11

12 Commercial banking 188.3 195.9 217.4 219.4 224.6 197.7 184.6 194.6 208.0 228.1 12

13 U.S.-chartered commercial banks 57.8 51.9 52.5 48.8 46.7 48.5 47.4 58.8 68.6 81.0 13

14 Foreign banking offices in U.S. 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 14

15 Bank holding companies 106.2 116.8 131.1 136.2 142.5 114.8 112.3 114.6 123.4 133.6 15

16 Savings institutions 111.4 135.7 164.4 186.0 171.0 140.1 95.4 88.4 99.6 112.4 16

17 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 17

18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 18

19 Government-sponsored enterprises 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 19

20 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 20

21 ABS issuers 37.2 74.7 118.3 154.4 209.8 285.8 366.2 473.1 558.3 631.4 21

22 Finance companies 224.3 275.9 299.1 323.0 350.4 373.5 389.6 386.4 385.1 433.7 22

23 Mortgage companies 16.7 25.7 14.5 14.5 24.6 24.6 22.2 30.2 30.2 18.7 23

24 REITs 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 24

25 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 25

26 Funding corporations 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 26

27 Total credit market assets held by: 8628.9 9809.7 10820.5 11862.2 12830.4 13768.7 14428.7 15260.5 16211.3 17251.6 27

28 Domestic nonfederal nonfinancial sectors 1535.5 1622.6 1833.2 2098.5 2252.7 2501.5 2652.6 2723.3 2744.1 3009.0 28

29 Household sector 849.5 866.2 1027.6 1228.5 1316.1 1555.3 1633.7 1675.0 1650.8 1946.1 29

30 Nonfinancial corporate business 180.7 175.1 174.3 193.3 225.5 199.4 230.0 257.8 271.5 289.2 30

31 Nonfarm noncorporate business 49.7 55.4 47.7 58.2 47.1 43.6 38.3 38.1 36.9 43.7 31

32 State and local governments 455.6 525.8 583.6 618.6 664.1 703.4 750.6 752.3 784.9 729.9 32

33 Federal government 251.2 258.0 242.8 217.4 209.4 243.0 250.9 238.9 229.5 214.5 33

34 Rest of the world 431.9 543.7 595.5 698.3 816.1 888.7 904.8 989.3 1108.7 1216.0 34

35 Financial sectors 6410.4 7385.5 8148.9 8848.1 9552.2 10135.5 10620.4 11309.0 12129.0 12812.2 35

36 Monetary authority 186.0 205.5 230.1 240.6 233.3 241.4 272.5 300.4 336.7 368.2 36

37 Commercial banking 1989.5 2187.6 2323.0 2479.5 2647.4 2772.5 2853.3 2948.6 3090.8 3254.3 37

38 U.S.-chartered commercial banks 1846.9 2009.4 2108.6 2235.0 2371.9 2466.7 2502.5 2571.9 2721.5 2869.6 38

39 Foreign banking offices in U.S. 117.1 152.0 186.2 215.6 242.3 270.8 319.2 335.8 326.0 337.1 39

40 Bank holding companies 11.8 11.5 13.5 13.4 16.2 13.4 11.9 17.5 17.5 18.4 40

41 Banks in U.S.-affiliated areas 13.7 14.6 14.7 15.5 17.1 21.6 19.7 23.4 25.8 29.2 41

42 Savings institutions 1097.6 1191.0 1310.3 1409.3 1316.0 1176.5 1013.2 937.4 914.1 920.8 42

43 Credit unions 98.4 113.9 131.3 148.8 156.0 166.6 179.4 197.1 218.7 246.8 43

44 Bank personal trusts and estates 132.8 151.4 163.9 177.8 197.5 213.4 223.5 231.5 240.9 248.0 44

45 Life insurance companies 646.6 734.5 823.1 927.2 1028.3 1134.5 1218.9 1304.4 1415.5 1487.5 45

46 Other insurance companies 176.5 219.2 258.6 287.9 317.5 344.0 376.6 389.4 422.7 446.4 46

47 Private pension funds 328.9 333.5 347.1 369.1 420.7 464.2 489.6 515.6 551.8 591.4 47

48 State and local govt. retirement funds 252.4 297.1 328.8 350.5 381.5 402.0 404.6 441.8 468.6 478.7 48

49 Federal government retirement funds 0.0 0.0 1.1 2.7 4.9 7.4 10.0 13.1 16.2 19.9 49

50 Money market mutual funds 178.2 213.1 215.0 225.5 293.7 371.3 403.9 408.6 429.0 459.0 50

51 Mutual funds 129.9 259.9 291.1 304.5 327.2 360.1 440.2 566.4 725.9 718.8 51

52 Closed-end funds 4.1 7.0 11.0 28.8 35.4 36.7 49.5 69.7 89.7 86.0 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 291.0 307.6 330.9 364.2 359.9 373.9 388.9 458.1 546.7 667.9 54

55 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 55

56 ABS issuers 34.8 71.4 113.2 147.6 201.1 266.9 342.7 445.4 528.0 594.1 56

57 Finance companies 311.2 351.0 396.4 431.3 449.2 471.2 453.0 453.3 427.9 476.2 57

58 Mortgage companies 24.7 36.6 23.9 29.0 49.2 49.2 60.3 60.5 60.4 36.5 58

59 REITs 8.7 13.7 21.2 25.4 26.0 24.2 23.6 25.0 25.4 24.6 59

60 Brokers and dealers 58.2 66.3 39.8 23.5 103.7 106.5 124.0 122.7 137.5 93.3 60

61 Funding corporations 93.0 93.9 119.8 129.5 134.3 133.1 136.1 148.1 125.8 121.4 61

(1) Excludes corporate equities and mutual fund shares.
FFA, 1985-1994, Z.1, December 9, 2004 51

L.2 Credit Market Debt Owed by Nonfinancial Sectors

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Domestic 7132.3 7975.1 8677.6 9461.7 10166.2 10849.6 11311.9 11830.2 12411.6 12989.9 1

 2 Federal government 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 2

 3 Treasury securities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 3

 4 Budget agency secur. and mortgages 3.3 3.6 5.2 22.6 24.2 32.4 18.6 18.8 26.6 26.7 4

 5 Nonfederal, by instrument 5542.5 6169.3 6727.8 7356.8 7914.9 8351.4 8535.6 8749.8 9075.1 9497.5 5

 6 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 6

 7 Municipal securities and loans 859.5 920.4 1010.4 1082.3 1135.2 1184.4 1272.2 1295.5 1361.8 1325.9 7

 8 Corporate bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1229.7 1253.0 8

 9 Bank loans n.e.c. 589.1 646.4 659.8 700.1 728.3 732.6 690.3 678.4 684.8 759.9 9

10 Other loans and advances 458.3 507.0 539.2 577.6 625.2 682.4 618.2 624.1 597.0 639.6 10

11 Mortgages 2374.5 2660.9 2961.9 3278.7 3548.8 3802.6 3953.8 4065.5 4197.8 4358.9 11

12 Home 1523.6 1726.5 1924.2 2157.7 2383.0 2619.0 2787.4 2955.6 3117.5 3297.7 12

13 Multifamily residential 205.0 238.4 258.2 274.2 286.8 286.8 283.4 270.3 266.1 263.4 13

14 Commercial 540.0 600.9 691.8 763.8 798.6 817.8 803.8 759.9 733.7 714.7 14

15 Farm 105.9 95.2 87.7 83.0 80.5 78.9 79.2 79.7 80.5 83.2 15

16 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.0 16

17 Nonfederal, by sector 5542.5 6169.3 6727.8 7356.8 7914.9 8351.4 8535.6 8749.8 9075.1 9497.5 17

18 Household sector 2277.5 2535.6 2752.2 3039.6 3333.8 3597.2 3787.3 3988.6 4227.6 4550.4 18

19 Nonfinancial business 2587.0 2881.5 3134.6 3422.2 3636.0 3761.9 3670.6 3666.7 3695.3 3841.2 19

20 Corporate 1615.5 1839.5 2033.9 2234.2 2401.1 2533.1 2477.3 2502.9 2549.8 2682.9 20

21 Nonfarm noncorporate 798.0 886.0 956.3 1054.2 1100.5 1093.3 1058.5 1028.4 1007.9 1015.9 21

22 Farm 173.4 156.0 144.4 133.7 134.4 135.4 134.8 135.3 137.6 142.4 22

23 State and local governments 677.9 752.1 841.0 895.0 945.2 992.3 1077.7 1094.5 1152.2 1105.9 23

 Foreign credit market debt

24 held in U.S. 239.3 241.0 247.4 254.8 265.0 288.8 304.0 318.7 388.5 377.5 24

25 Commercial paper 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 25

26 Bonds 71.8 74.9 82.3 89.2 94.0 115.4 130.4 147.2 230.1 245.0 26

27 Bank loans n.e.c. 27.9 26.9 23.3 21.5 21.4 18.5 21.6 23.9 24.6 26.1 27

28 Other loans and advances 105.6 101.8 100.6 94.1 86.5 79.6 69.8 69.2 65.0 63.8 28

29 Domestic and foreign 7371.6 8216.2 8925.0 9716.5 10431.1 11138.4 11615.9 12148.9 12800.1 13367.4 29

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 1257.3 1593.6 1895.5 2145.8 2399.3 2630.3 2812.9 3111.6 3411.2 3884.2 1

 2 Open market paper 252.4 284.6 322.9 377.7 409.1 417.7 385.3 393.5 393.4 441.6 2

 3 GSE issues 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 3

 4 Agency- and GSE-backed mortgage pool sec. 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 4

 5 Corporate bonds 233.1 325.4 404.0 456.1 525.5 596.6 695.2 828.8 951.7 1070.1 5

 6 Bank loans n.e.c. 44.6 56.9 48.6 51.4 64.9 68.9 76.2 77.0 62.6 48.9 6

 7 Other loans and advances 99.0 119.3 144.3 163.7 153.3 129.2 91.9 91.3 113.7 131.6 7

 8 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 8

 9 By sector 1257.3 1593.6 1895.5 2145.8 2399.3 2630.3 2812.9 3111.6 3411.2 3884.2 9

10 Commercial banks 82.2 79.1 86.3 83.1 82.1 83.0 72.3 80.0 84.6 94.5 10

11 Bank holding companies 106.2 116.8 131.1 136.2 142.5 114.8 112.3 114.6 123.4 133.6 11

12 Savings institutions 111.4 135.7 164.4 186.0 171.0 140.1 95.4 88.4 99.6 112.4 12

13 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 13

14 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 14

15 Government-sponsored enterprises 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 15

16 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 16

17 ABS issuers 37.2 74.7 118.3 154.4 209.8 285.8 366.2 473.1 558.3 631.4 17

18 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 18

19 Finance companies 224.3 275.9 299.1 323.0 350.4 373.5 389.6 386.4 385.1 433.7 19

20 Mortgage companies 16.7 25.7 14.5 14.5 24.6 24.6 22.2 30.2 30.2 18.7 20

21 REITs 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 21

22 Funding corporations 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 22
52 FFA, 1985-1994, Z.1, December 9, 2004

L.4 Credit Market Debt, All Sectors, by Instrument

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total 8628.9 9809.7 10820.5 11862.2 12830.4 13768.7 14428.7 15260.5 16211.3 17251.6 1

 2 Open market paper 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 2

 3 Treasury securities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 3

 4 Agency- and GSE-backed securities 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 4

 5 Municipal securities 859.5 920.4 1010.4 1082.3 1135.2 1184.4 1272.2 1295.5 1361.8 1325.9 5

 6 Corporate and foreign bonds 883.1 1105.6 1270.4 1432.5 1580.6 1720.2 1912.5 2130.4 2411.4 2568.0 6

 7 Bank loans n.e.c. 661.7 730.2 731.8 773.0 814.5 820.0 788.2 779.2 772.0 834.9 7

 8 Other loans and advances 663.0 728.0 784.0 835.5 865.0 891.2 780.0 784.6 775.7 834.9 8

 9 Mortgages 2377.1 2663.8 2965.0 3282.1 3552.5 3806.9 3958.6 4070.8 4206.8 4377.6 9

10 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.0 10

 Memo:

 Selected claims not included above:

11 Corporate equities 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 11

12 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

L.5 Total Liabilities and Its Relation to Total Financial Assets

Billions of dollars

 Total credit market debt

 1 (from table L.4) 8628.9 9809.7 10820.5 11862.2 12830.4 13768.7 14428.7 15260.5 16211.3 17251.6 1

 2 Official foreign exchange 24.8 29.1 24.4 27.1 53.6 61.3 55.4 51.8 53.4 53.2 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 4

 5 Foreign deposits 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 5

 6 Net interbank liabilities 9.0 36.9 72.5 77.1 62.5 94.9 96.4 138.5 189.3 280.1 6

 7 Checkable deposits and currency 713.5 837.9 841.9 884.6 891.0 934.6 1020.9 1134.4 1251.7 1242.0 7

 8 Small time and savings deposits 1852.3 1978.0 2047.9 2187.2 2285.1 2349.1 2350.7 2293.4 2223.1 2183.2 8

 9 Large time deposits 488.5 492.1 541.9 595.1 613.0 546.9 488.4 415.2 391.7 411.2 9

10 Money market fund shares 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 10

11 Security RPs 250.6 298.7 292.7 318.7 396.5 372.3 355.9 400.0 471.3 549.5 11

12 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

13 Security credit 131.2 141.1 115.3 118.3 133.9 137.4 188.9 217.7 279.0 279.0 13

14 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 14

15 Pension fund reserves 2085.0 2325.1 2497.3 2748.1 3221.1 3376.3 3854.3 4153.9 4616.1 4883.8 15

16 Trade payables 910.1 930.6 1013.7 1118.9 1195.8 1249.7 1302.7 1371.2 1450.6 1570.6 16

17 Taxes payable 66.3 72.9 79.1 80.2 80.9 82.8 76.8 87.4 96.4 99.6 17

18 Investment in bank personal trusts 384.3 429.1 442.1 470.3 541.4 551.7 639.3 660.6 691.3 699.4 18

19 Miscellaneous 2996.2 3142.7 3443.0 3865.8 4280.2 4465.0 4825.9 5253.5 5711.1 6032.0 19

20 Total liabilities 19459.7 21722.4 23568.2 25773.3 28255.5 29808.2 31707.2 33710.1 36352.9 38532.6 20

 + Financial assets not included in

 liabilities:

21 Gold and SDRs 18.4 19.5 21.4 20.7 21.0 22.0 22.3 19.6 20.1 21.1 21

22 Corporate equities 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 22

23 Household equity in noncorp. bus. 2506.2 2635.8 2761.0 2920.6 3053.0 3127.8 3102.9 3071.5 3173.1 3376.5 23

 - Liabilities not identified as assets:

24 Treasury currency -3.8 -3.8 -4.0 -4.1 -4.3 -4.1 -4.7 -4.9 -5.1 -5.4 24

25 Foreign deposits 105.8 129.9 165.9 167.1 214.2 243.1 221.1 216.1 231.6 323.7 25

26 Net interbank transactions -18.3 -24.5 -28.1 -28.5 -31.0 -32.0 -4.2 -9.3 -4.7 -6.5 26

27 Security RPs 28.1 40.2 29.8 33.6 42.6 -15.6 -49.0 -44.9 8.3 81.7 27

28 Taxes payable 28.5 25.4 30.2 22.5 20.3 24.0 22.1 33.3 44.4 53.3 28

29 Miscellaneous 131.5 -65.6 -213.8 -356.0 -474.5 -455.1 -445.0 -260.6 -375.2 -570.5 29

 - Floats not included in assets:

30 Checkable deposits: Federal govt. 1.7 2.7 6.0 5.9 6.1 15.0 3.8 6.8 5.6 3.4 30

31 Other 37.3 28.3 28.8 29.6 27.5 35.9 40.4 42.0 40.7 38.0 31

32 Trade credit -29.8 -27.8 -29.4 -42.8 -28.6 -24.0 32.5 63.4 83.5 102.7 32

33 Totals identified to sectors as assets 23973.7 26955.1 29075.4 31962.8 35370.1 36702.2 39863.1 42181.4 45813.9 48227.1 33
FFA, 1985-1994, Z.1, December 9, 2004 53

L.10 Assets and Liabilities of the Personal Sector (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 7809.9 8841.7 9400.4 10468.7 11740.5 12073.3 13643.6 14513.3 15653.8 16167.8 1

 2 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 2

 3 Checkable deposits and currency 382.9 498.6 501.4 503.4 504.0 494.2 545.8 660.7 710.2 692.0 3

 4 Time and savings deposits 2010.9 2100.7 2217.8 2401.5 2482.4 2516.0 2447.3 2352.1 2246.9 2220.9 4

 5 Money market fund shares 193.3 232.0 253.1 270.6 347.5 375.2 390.5 351.9 352.7 367.6 5

 6 Securities 1991.6 2425.0 2601.0 3098.0 3596.2 3651.0 4587.9 5111.9 5726.0 5905.9 6

 7 Open market paper 35.0 30.6 32.9 67.3 56.9 63.2 33.3 29.9 45.5 46.7 7

 8 U.S. savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 8

 9 Other Treasury securities 188.5 168.0 189.8 266.8 258.9 357.5 376.8 454.0 487.3 684.0 9

10 Agency- and GSE-backed securities 6.9 7.0 11.9 28.4 49.3 68.9 38.7 -7.8 -66.1 51.0 10

11 Municipal securities 348.0 355.4 453.5 524.2 547.7 575.0 614.4 578.9 536.3 484.7 11

12 Corporate and foreign bonds 77.4 107.2 123.9 116.6 162.9 233.5 299.0 335.9 358.3 396.1 12

13 Corporate equities (2) 1058.1 1330.3 1306.2 1585.0 1939.8 1770.1 2517.3 2857.1 3223.5 3081.6 13

14 Mutual fund shares 197.9 333.2 381.7 400.1 462.9 456.6 570.3 706.7 969.2 981.9 14

15 Private life insurance reserves 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 15

16 Private insured pension reserves 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 16

17 Private noninsured pension reserves 1250.4 1314.9 1383.6 1429.8 1660.9 1656.1 1957.3 2060.4 2305.9 2470.9 17

18 Govt. insurance and pension reserves 592.0 701.2 785.1 904.1 1087.1 1174.0 1300.6 1426.4 1562.7 1645.2 18

19 Investment in bank personal trusts 384.3 429.1 442.1 470.3 541.4 551.7 639.3 660.6 691.3 699.4 19

20 Miscellaneous and other assets 489.8 539.8 568.5 630.4 670.9 703.8 745.4 758.9 810.0 859.0 20

21 Total liabilities 3563.5 3895.9 4154.7 4568.4 4959.2 5216.4 5400.2 5598.3 5854.0 6218.8 21

22 Mortgage debt on nonfarm homes 1516.7 1719.4 1915.9 2148.2 2373.6 2609.0 2780.0 2949.9 3111.8 3290.7 22

23 Other mortgage debt (3) 692.2 758.1 793.9 876.4 919.5 919.2 913.7 893.6 877.4 857.8 23

24 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.0 24

25 Policy loans 55.5 55.4 55.3 55.3 58.4 62.5 67.3 73.0 78.6 86.4 25

26 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 26

27 Other liabilities (3) 637.8 639.3 649.2 699.9 755.9 762.5 768.4 803.6 823.9 887.9 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, 1985-1994, Z.1, December 9, 2004

L.100 Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 10008.6 11129.9 11818.2 12992.2 14388.0 14793.4 16330.0 17139.7 18352.2 19007.5 1

 2 Deposits 2484.0 2720.9 2864.5 3055.0 3211.7 3259.1 3253.0 3219.4 3155.8 3109.3 2

 3 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 3

 4 Checkable deposits and currency 312.6 425.1 427.4 424.5 424.1 412.1 461.3 569.8 615.0 584.3 4

 5 Time and savings deposits 1970.3 2058.4 2177.4 2354.5 2434.0 2465.0 2394.1 2291.9 2183.3 2153.7 5

 6 Money market fund shares 193.3 228.8 250.0 265.3 341.7 368.6 383.1 342.2 341.8 352.5 6

 7 Credit market instruments 849.5 866.2 1027.6 1228.5 1316.1 1555.3 1633.7 1675.0 1650.8 1946.1 7

 8 Open market paper 35.0 30.6 32.9 67.3 56.9 63.2 33.3 29.9 45.5 46.7 8

 9 Treasury securities 262.5 250.5 281.1 366.1 364.7 471.2 502.7 598.3 645.6 845.6 9

10 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 10

11 Other Treasury 182.7 157.2 180.0 256.5 246.9 345.0 364.6 441.0 473.7 665.6 11

12 Agency- and GSE-backed securities 6.9 7.0 11.9 28.4 49.3 68.9 38.7 -7.8 -66.1 51.0 12

13 Municipal securities 348.0 355.4 453.5 524.2 547.7 575.0 614.4 578.9 534.8 483.1 13

14 Corporate and foreign bonds 77.4 107.2 123.9 116.6 162.9 233.5 299.0 335.9 358.3 396.1 14

15 Mortgages 119.7 115.5 124.2 125.9 134.5 143.5 145.7 139.9 132.5 123.7 15

16 Corporate equities (2) 1058.1 1330.3 1306.2 1585.0 1939.8 1770.1 2517.3 2857.1 3223.5 3081.6 16

17 Mutual fund shares 197.9 333.2 381.7 400.1 462.9 456.6 570.3 706.7 969.2 981.9 17

18 Security credit 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 18

19 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 19

20 Pension fund reserves 2085.0 2325.1 2497.3 2748.1 3221.1 3376.3 3854.3 4153.9 4616.1 4883.8 20

21 Investment in bank personal trusts 384.3 429.1 442.1 470.3 541.4 551.7 639.3 660.6 691.3 699.4 21

22 Equity in noncorporate business 2506.2 2635.8 2761.0 2920.6 3053.0 3127.8 3102.9 3071.5 3173.1 3376.5 22

23 Miscellaneous assets 144.3 162.6 189.4 208.0 223.6 242.5 253.5 271.4 285.4 299.5 23

24 Total liabilities 2367.7 2633.5 2840.4 3139.9 3450.1 3719.3 3934.3 4139.9 4408.0 4735.4 24

25 Credit market instruments 2277.5 2535.6 2752.2 3039.6 3333.8 3597.2 3787.3 3988.6 4227.6 4550.4 25

26 Home mortgages (3) 1449.3 1646.6 1825.0 2049.9 2273.6 2504.1 2683.5 2857.5 3017.3 3186.6 26

27 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.0 27

28 Municipal securities 81.3 78.4 78.1 79.9 83.3 86.6 90.6 92.6 94.0 97.6 28

29 Bank loans n.e.c. 31.0 31.0 31.9 30.0 20.4 17.9 13.1 17.6 27.4 40.0 29

30 Other loans and advances 72.2 75.0 74.3 75.7 74.3 81.7 89.1 95.3 94.2 103.7 30

31 Commercial mortgages 33.1 38.3 44.4 59.0 72.8 82.5 95.5 100.9 108.5 101.5 31

32 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 32

33 Trade payables 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 33

 Deferred and unpaid

34 life insurance premiums 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 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, 1985-1994, Z.1, December 9, 2004 55

L.101 Nonfinancial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 2768.1 2974.6 3200.7 3632.3 3868.2 3979.1 4110.0 4299.3 4675.6 5009.0 1

 2 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 2

 3 Checkable deposits and currency 196.0 200.8 210.8 229.6 239.7 247.9 257.2 259.3 284.1 308.3 3

 4 Time and savings deposits 109.9 127.8 126.3 129.2 129.0 125.6 130.8 136.2 155.6 163.5 4

 5 Money market fund shares 14.5 18.1 18.9 15.6 16.2 26.3 31.5 47.3 44.8 52.2 5

 6 Security RPs 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 6

 7 Credit market instruments 230.4 230.5 222.0 251.5 272.6 242.9 268.3 296.0 308.5 332.9 7

 8 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 8

 9 Treasury securities 46.9 51.1 41.6 38.3 63.4 50.2 55.7 73.6 62.4 69.2 9

10 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 10

11 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 56.2 58.3 11

12 Mortgages 101.0 94.8 89.4 116.0 89.5 83.8 85.0 85.2 74.1 80.2 12

13 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 13

14 Mutual fund shares 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 14

15 Trade receivables 803.1 816.3 881.6 984.2 1033.1 1065.0 1058.1 1092.8 1143.8 1232.0 15

16 Miscellaneous assets 1384.0 1541.1 1708.6 1985.0 2148.6 2244.8 2331.2 2425.7 2692.1 2871.1 16

17 Total liabilities 4504.0 4760.6 5088.2 5620.1 6041.9 6226.6 6295.7 6568.1 6834.6 7110.7 17

18 Credit market instruments 2587.0 2881.5 3134.6 3422.2 3636.0 3761.9 3670.6 3666.7 3695.3 3841.2 18

19 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 19

20 Municipal securities 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 20

21 Corporate bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1229.7 1253.0 21

22 Bank loans n.e.c. 558.1 615.4 628.0 670.1 707.9 714.7 677.2 660.8 657.4 719.8 22

23 Other loans and advances 359.3 404.7 440.0 492.9 542.1 591.1 519.1 518.9 493.5 526.7 23

24 Mortgages 892.1 976.0 1092.5 1169.8 1202.4 1215.9 1174.8 1107.1 1072.0 1070.8 24

25 Trade payables 551.6 535.6 584.2 641.1 668.9 699.0 722.1 762.6 800.8 885.5 25

26 Taxes payable 60.6 66.1 71.7 71.1 69.7 70.3 61.4 68.5 72.1 73.1 26

27 Miscellaneous liabilities 1304.8 1277.4 1297.8 1485.7 1667.2 1695.3 1841.6 2070.3 2266.4 2310.9 27

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
56 FFA, 1985-1994, Z.1, December 9, 2004

L.102 Nonfarm Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 2464.6 2632.6 2862.9 3240.8 3467.4 3575.5 3698.1 3859.2 4207.2 4477.3 1

 2 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 2

 3 Checkable deposits and currency 125.7 127.2 136.8 150.7 159.8 165.8 172.7 168.4 188.9 200.6 3

 4 Time and savings deposits 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 4

 5 Money market fund shares 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 5

 6 Security RPs 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 6

 7 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 7

 8 Treasury securities 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 8

 9 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 9

10 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 10

11 Mortgages 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 11

12 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 12

13 Trade receivables 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 13

14 Mutual fund shares 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 14

15 Miscellaneous assets 1304.8 1448.4 1612.2 1871.1 2024.0 2122.3 2199.4 2288.4 2539.0 2698.2 15

16 U.S. direct investment abroad (1) 377.8 403.3 463.8 485.0 497.5 555.1 577.0 584.4 607.1 685.6 16

17 Insurance receivables 62.8 81.6 105.1 120.0 134.2 147.5 149.5 163.0 169.7 175.4 17

18 Equity in GSEs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Investment in finance company subs. 16.7 18.7 12.5 9.2 8.8 18.3 16.2 17.2 17.8 20.9 19

20 Other 847.5 944.8 1030.9 1256.9 1383.4 1401.4 1456.6 1523.8 1744.5 1816.3 20

21 Total liabilities 3308.2 3498.2 3774.0 4191.7 4532.7 4729.4 4829.8 5109.7 5388.6 5627.4 21

22 Credit market instruments 1615.5 1839.5 2033.9 2234.2 2401.1 2533.1 2477.3 2502.9 2549.8 2682.9 22

23 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 23

24 Municipal securities (2) 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 24

25 Corporate bonds (1) 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1229.7 1253.0 25

26 Bank loans n.e.c. 424.1 481.1 485.1 517.9 542.8 545.5 507.7 488.4 480.5 527.2 26

27 Other loans and advances 248.4 289.6 322.6 372.9 418.9 473.1 410.2 412.6 388.4 421.4 27

28 Savings institutions 14.7 19.9 20.4 24.6 23.5 17.2 9.7 6.2 5.4 5.1 28

29 Finance companies 135.2 149.2 180.0 205.8 225.7 241.3 237.4 238.4 224.1 247.4 29

30 Federal government 14.2 14.8 11.5 9.9 9.6 8.8 7.9 7.9 8.1 8.0 30

31 Acceptance liabilities to banks 28.3 28.1 32.6 32.6 35.8 29.2 23.3 20.4 17.1 15.0 31

32 Rest of the world 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 32

33 ABS issuers 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 33

34 Mortgages 165.6 183.4 252.1 254.2 255.8 274.4 260.0 222.0 208.6 210.4 34

35 Trade payables 479.7 478.0 522.4 576.1 597.9 626.3 649.4 682.8 719.3 796.5 35

36 Taxes payable 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 36

37 Miscellaneous liabilities 1174.0 1138.0 1169.8 1336.9 1495.4 1531.7 1674.2 1888.6 2078.8 2107.6 37

38 Foreign direct investment in U.S. 210.9 254.1 316.7 394.3 454.6 513.3 511.3 518.3 540.3 592.2 38

39 Pension fund contributions payable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 39

40 Other 944.4 865.2 832.8 923.6 1014.5 986.1 1118.5 1316.0 1471.9 1437.1 40

 Memo:

41 Trade receivables net of payables 259.7 263.5 283.0 319.8 340.1 340.9 312.0 306.1 315.8 310.4 41

42 Market value of equities 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 42

43 Securities and mortgages 870.8 1005.9 1152.5 1257.8 1332.3 1397.7 1460.9 1494.8 1563.2 1595.1 43

44 Loans and short-term paper 744.7 833.6 881.5 976.4 1068.8 1135.4 1016.4 1008.2 986.6 1087.8 44

45 Total short-term liabilities (3) 1263.3 1354.3 1451.7 1596.9 1705.0 1800.1 1694.7 1726.3 1746.6 1924.7 45

46 Total liquid assets (4) 320.9 345.5 339.7 344.9 387.2 366.1 415.3 456.0 503.6 529.2 46

 Analytical measures (percent)

47 Long-term debt/credit market debt 53.9 54.7 56.7 56.3 55.5 55.2 59.0 59.7 61.3 59.5 47

48 Short-term debt/credit market debt 46.1 45.3 43.3 43.7 44.5 44.8 41.0 40.3 38.7 40.5 48

49 Liquid assets/short-term liabilities 25.4 25.5 23.4 21.6 22.7 20.3 24.5 26.4 28.8 27.5 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, 1985-1994, Z.1, December 9, 2004 57

L.103 Nonfarm Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 270.3 304.4 298.4 348.6 355.9 356.2 362.3 386.7 411.4 472.9 1

 2 Checkable deposits and currency 61.3 63.5 64.2 68.5 69.4 71.2 72.7 77.3 79.5 91.5 2

 3 Time and savings deposits 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 3

 4 Money market fund shares 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 4

 5 Treasury securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 5

 6 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 6

 7 Mortgages 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 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 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 9

10 Miscellaneous assets 54.8 65.1 66.7 81.4 90.2 85.9 94.0 97.5 111.7 130.3 10

11 Insurance receivables 39.6 45.0 39.0 39.1 43.3 38.6 42.4 39.9 40.8 42.2 11

12 Equity investment in GSEs (1) 0.8 0.8 0.7 0.7 0.8 0.6 0.6 0.6 0.8 0.9 12

13 Other 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 13

14 Total liabilities 1007.3 1094.2 1159.0 1283.0 1362.5 1349.0 1318.1 1309.8 1294.2 1325.8 14

15 Credit market instruments 798.0 886.0 956.3 1054.2 1100.5 1093.3 1058.5 1028.4 1007.9 1015.9 15

16 Bank loans n.e.c. 98.5 103.1 113.8 122.4 134.3 136.4 135.0 137.7 140.2 153.9 16

17 Other loans and advances 78.8 85.5 89.8 99.0 100.0 94.4 87.9 85.4 84.8 84.7 17

18 Mortgages 620.7 697.4 752.7 832.7 866.1 862.6 835.6 805.3 782.9 777.3 18

19 Trade payables 56.9 45.5 50.9 53.3 58.7 60.0 59.7 66.6 67.3 73.8 19

20 Taxes payable 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 20

21 Miscellaneous liabilities 130.8 139.4 127.9 148.7 171.8 163.7 167.4 181.7 187.6 203.3 21

(1) Equity in the Farm Credit System.

L.104 Farm Business (1)

Billions of dollars

 1 Total financial assets 33.3 37.6 39.5 42.8 45.0 47.4 49.6 53.4 57.0 58.8 1

 2 Checkable deposits and currency 9.0 10.1 9.9 10.4 10.5 10.9 11.8 13.6 15.7 16.2 2

 3 Miscellaneous assets 24.3 27.6 29.6 32.4 34.5 36.6 37.8 39.8 41.3 42.6 3

 4 Insurance receivables 20.4 24.2 26.7 29.4 32.4 34.6 35.6 37.7 39.1 40.4 4

 5 Equity investment in GSEs (2) 4.0 3.4 3.0 3.0 2.2 2.0 2.2 2.1 2.2 2.2 5

 6 Total liabilities 188.5 168.1 155.3 145.5 146.6 148.2 147.8 148.5 151.8 157.6 6

 7 Credit market instruments 173.4 156.0 144.4 133.7 134.4 135.4 134.8 135.3 137.6 142.4 7

 8 Bank loans n.e.c. 35.5 31.2 29.1 29.8 30.8 32.9 34.6 34.7 36.8 38.7 8

 9 Other loans and advances 32.1 29.6 27.6 21.0 23.1 23.6 21.1 20.9 20.3 20.6 9

10 Mortgages 105.9 95.2 87.7 83.0 80.5 78.9 79.2 79.7 80.5 83.2 10

11 Trade payables 15.1 12.1 10.9 11.8 12.3 12.7 13.0 13.2 14.2 15.2 11

(1) Corporate and noncorporate farms.

(2) Equity in the Farm Credit System.
58 FFA, 1985-1994, Z.1, December 9, 2004

L.105 State and Local Governments (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 686.2 771.7 856.4 900.3 970.9 1019.8 1082.9 1091.0 1111.6 1118.4 1

 2 Checkable deposits and currency 14.8 17.3 16.5 19.5 19.9 18.6 25.1 26.2 28.2 30.0 2

 3 Time and savings deposits 65.9 68.2 75.3 73.4 70.6 67.5 56.5 50.3 48.8 55.3 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 4

 5 Security RPs 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 5

 6 Credit market instruments 455.6 525.8 583.6 618.6 664.1 703.4 750.6 752.3 784.9 729.9 6

 7 Open market paper 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 7

 8 Treasury securities 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 8

 9 Agency- and GSE-backed securities 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 9

10 Municipal securities 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 10

11 Corporate and foreign bonds 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 11

12 Mortgages 74.2 86.0 94.7 98.6 105.0 110.2 113.7 113.7 108.3 110.5 12

13 Corporate equities 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 13

14 Mutual fund shares 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 14

15 Trade receivables 41.3 42.2 46.0 50.8 54.2 56.7 59.1 62.2 65.8 71.2 15

16 Taxes receivable 26.4 29.1 29.6 33.3 36.8 36.3 38.4 38.7 33.1 27.7 16

17 Miscellaneous assets 8.1 9.8 13.7 13.2 14.5 16.0 19.3 15.6 -15.3 40.1 17

18 Total liabilities 929.6 1024.5 1134.1 1209.0 1281.1 1351.6 1459.0 1498.8 1582.0 1563.4 18

19 Credit market instruments 677.9 752.1 841.0 895.0 945.2 992.3 1077.7 1094.5 1152.2 1105.9 19

20 Municipal securities 651.1 724.9 816.1 886.0 936.4 982.7 1067.6 1084.7 1143.0 1096.6 20

21 Short-term 20.5 20.4 18.0 20.0 23.3 26.2 33.1 32.0 33.8 31.7 21

22 Other 630.6 704.5 798.1 866.0 913.1 956.4 1034.5 1052.6 1109.2 1065.0 22

23 U.S. government loans 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.3 23

24 Trade payables 251.7 272.4 293.1 313.9 336.0 359.2 381.3 404.3 429.7 457.5 24

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

L.106 Federal Government

Billions of dollars

 1 Total financial assets 373.7 387.6 372.2 362.4 370.2 442.4 500.7 476.4 485.9 446.7 1

 2 Gold, SDRs, and official foreign exchange 25.1 28.0 29.1 27.7 31.7 39.7 39.1 38.8 40.2 41.4 2

 3 Checkable deposits and currency 34.0 32.8 21.4 32.1 26.1 25.4 50.9 31.7 52.2 27.8 3

 4 Time and savings deposits 1.2 1.4 1.7 1.4 1.3 1.4 1.6 0.9 0.8 0.7 4

 5 Credit market instruments 251.2 258.0 242.8 217.4 209.4 243.0 250.9 238.9 229.5 214.5 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 Other loans and advances 197.9 203.6 193.8 169.3 162.1 160.1 152.6 152.6 144.1 136.8 7

 8 Mortgages 53.3 54.4 49.1 48.0 47.3 82.9 98.3 86.4 85.0 71.0 8

 9 Consumer credit (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.7 9

10 Trade receivables 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 10

11 Taxes receivable 11.3 18.4 19.3 24.5 23.8 22.5 16.4 15.5 18.9 18.6 11

12 Miscellaneous assets 15.8 16.3 17.4 18.6 34.0 68.2 104.3 119.7 115.9 119.1 12

13 Total liabilities 1856.0 2118.0 2302.5 2504.7 2701.4 2979.5 3291.3 3631.8 3929.8 4124.9 13

14 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 14

15 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 15

16 Credit market instruments 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 16

17 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 17

18 Other Treasury securities 1506.8 1708.9 1843.5 1972.7 2109.3 2339.6 2619.7 2904.3 3138.0 3285.6 18

19 Budget agency securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 19

20 Multifamily residential mortgages 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Trade payables 58.2 72.8 80.3 88.2 96.8 91.2 85.8 83.1 86.1 85.7 21

22 Insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 22

23 Miscellaneous liabilities (2) 172.1 201.7 233.1 270.6 307.1 340.3 378.0 417.7 454.7 492.3 23

24 Nonmarketable securities held by pension plans 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 24

25 Other 0.0 0.0 1.2 5.8 7.8 7.7 7.0 6.9 6.8 6.8 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, 1985-1994, Z.1, December 9, 2004 59

L.107 Rest of the World

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 967.4 1176.7 1355.2 1581.3 1895.0 1998.4 2134.9 2287.0 2648.0 2909.6 1

 2 Net interbank assets -30.9 -15.2 29.3 35.2 27.7 53.3 36.6 79.9 125.4 218.2 2

 3 U.S. checkable deposits and currency 67.2 74.0 78.1 83.2 89.2 107.7 121.7 136.7 155.4 180.6 3

 4 U.S. time deposits 43.4 40.9 41.8 45.2 49.9 49.2 49.0 47.9 54.7 56.3 4

 5 Security RPs 7.5 10.9 13.1 13.0 23.1 19.7 20.9 41.7 58.6 46.6 5

 6 Credit market instruments 431.9 543.7 595.5 698.3 816.1 888.7 904.8 989.3 1108.7 1216.0 6

 7 Open market paper 8.2 8.0 9.0 11.8 12.7 10.7 11.3 12.9 18.8 24.9 7

 8 Treasury securities 226.4 269.4 296.3 353.8 423.7 438.4 476.3 520.3 594.6 632.6 8

 9 Official 138.4 173.3 213.7 253.0 257.2 285.9 306.0 322.6 373.1 396.9 9

10 Private 88.0 96.1 82.6 100.9 166.5 152.5 170.3 197.7 221.5 235.7 10

11 Agency- and GSE-backed securities 14.9 22.1 26.8 33.3 45.5 50.0 58.8 74.6 107.9 125.1 11

12 Official 6.6 5.6 6.8 8.0 6.4 5.3 5.2 6.7 8.6 10.3 12

13 Private 8.3 16.5 19.9 25.4 39.1 44.6 53.6 67.9 99.2 114.8 13

14 U.S. corporate bonds (1) 126.4 166.6 185.4 199.3 211.9 217.2 233.4 251.5 273.3 311.4 14

15 Loans to U.S. corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 15

16 U.S. corporate equities 136.8 183.2 189.0 213.8 276.1 243.8 299.0 329.0 373.5 397.7 16

17 Trade receivables 30.9 31.9 34.1 36.8 39.1 45.3 44.8 47.2 50.0 51.8 17

18 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Miscellaneous assets 280.5 307.3 374.3 455.8 573.8 590.8 658.1 615.3 721.6 742.4 19

20 Foreign direct investment in U.S. (2) 247.2 284.7 334.6 401.8 467.9 505.3 533.4 540.3 593.3 618.0 20

21 Other 33.3 22.6 39.7 54.0 105.9 85.4 124.7 75.1 128.3 124.4 21

22 Total liabilities 869.7 940.1 1023.3 1132.8 1269.4 1388.8 1389.2 1404.7 1585.3 1745.7 22

 U.S. official foreign exchange

23 and net IMF position 24.8 29.1 24.4 27.1 53.6 61.3 55.4 51.8 53.4 53.2 23

24 U.S. private deposits 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 24

25 Credit market instruments 239.3 241.0 247.4 254.8 265.0 288.8 304.0 318.7 388.5 377.5 25

26 Commercial paper 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 26

27 Bonds 71.8 74.9 82.3 89.2 94.0 115.4 130.4 147.2 230.1 245.0 27

28 Bank loans n.e.c. 27.9 26.9 23.3 21.5 21.4 18.5 21.6 23.9 24.6 26.1 28

29 Official 6.2 6.2 5.3 4.8 3.4 2.8 2.4 3.3 2.4 2.2 29

30 Banks 9.7 10.7 7.8 7.8 8.6 5.9 6.9 7.6 8.8 8.8 30

31 Other 12.1 10.0 10.2 8.9 9.4 9.8 12.3 13.0 13.5 15.2 31

32 U.S. government loans 74.0 75.5 73.3 69.3 67.0 63.2 57.8 58.0 56.9 55.9 32

33 Acceptance liabilities to banks 31.6 26.3 27.3 24.9 19.6 16.3 12.0 11.3 8.2 7.9 33

34 Trade payables 16.3 15.6 18.1 25.8 28.6 27.4 30.4 31.8 35.9 39.5 34

35 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Miscellaneous liabilities 440.9 474.5 520.0 596.3 655.5 713.4 725.9 734.8 835.8 901.5 36

37 U.S. equity in IBRD, etc. 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 37

38 U.S. government deposits 1.9 0.9 0.8 0.7 0.6 0.7 1.7 1.8 2.1 2.2 38

39 U.S. direct investment abroad (1,2) 408.5 438.5 507.9 536.2 570.2 628.7 654.5 672.4 723.5 786.6 39

40 Other 16.5 19.7 -5.2 41.5 65.5 63.5 47.8 37.4 85.7 86.8 40

 Memo:

41 Market value of foreign equities 44.4 72.4 94.7 128.7 197.3 197.6 279.0 314.3 543.9 626.8 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, 1985-1994, Z.1, December 9, 2004

L.108 Monetary Authority (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 243.2 275.1 285.8 304.3 315.5 342.3 364.6 381.7 423.8 452.1 1

 2 Gold and foreign exchange 18.1 20.5 16.7 20.1 42.9 43.6 38.6 32.5 33.3 33.0 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.5 22.1 23.0 4

 5 Federal Reserve float 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 5

 6 Fed. Res. loans to domestic banks 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 6

 7 Security RPs 5.2 16.0 1.3 6.9 2.1 18.4 15.9 8.1 13.2 10.6 7

 8 Credit market instruments 186.0 205.5 230.1 240.6 233.3 241.4 272.5 300.4 336.7 368.2 8

 9 Acceptances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Treasury securities 177.8 197.6 222.6 233.7 226.8 235.1 266.5 295.0 332.0 364.5 10

11 Agency- and GSE-backed securities 8.2 7.8 7.6 7.0 6.5 6.3 6.0 5.4 4.6 3.6 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 8.0 7.7 9.9 9.4 7.5 6.0 5.6 7.4 9.6 9.8 13

14 Total liabilities 241.4 273.2 283.8 302.2 313.2 339.9 362.0 378.7 420.4 448.4 14

15 Depository institution reserves 28.6 48.1 41.8 39.3 35.6 38.7 29.4 32.1 35.0 30.8 15

16 Vault cash of commercial banks 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 16

17 Checkable deposits and currency 182.4 194.7 211.4 229.5 239.1 264.3 293.5 311.1 348.2 373.5 17

18 Due to federal government 9.9 8.0 5.8 9.1 6.7 9.5 18.3 8.0 15.2 7.5 18

19 Due to rest of the world 0.5 0.4 0.3 0.4 0.6 0.4 1.0 0.2 0.4 0.3 19

20 Currency outside banks 171.9 186.3 205.4 220.1 231.8 254.4 274.2 302.8 332.6 365.7 20

21 Miscellaneous liabilities 4.8 4.7 5.7 5.8 10.0 4.3 5.5 3.7 4.6 6.0 21

22 Federal Reserve Bank stock 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 22

23 Other 3.1 2.8 3.7 3.6 7.7 1.9 2.8 0.6 1.2 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, 1985-1994, Z.1, December 9, 2004 61

L.109 Commercial Banking (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 2376.3 2619.6 2774.5 2952.1 3231.4 3337.5 3442.2 3654.9 3891.8 4159.7 1

 2 Vault cash 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 2

 3 Reserves at Federal Reserve 24.7 42.5 36.9 34.0 31.1 35.3 26.5 29.0 31.5 28.0 3

 4 Checkable deposits and currency 4.5 4.4 3.6 3.0 2.6 2.5 1.8 1.3 1.0 1.4 4

 5 Total bank credit 1975.0 2172.9 2297.5 2455.9 2637.1 2767.2 2872.3 3011.8 3174.4 3331.2 5

 6 Treasury securities 189.4 197.7 194.4 185.3 165.3 172.1 232.5 294.4 322.2 290.4 6

 7 Agency- and GSE-backed securities 77.5 115.1 144.5 175.3 230.5 284.8 335.7 378.5 423.2 428.7 7

 8 Municipal securities 231.7 203.4 174.3 151.6 133.8 117.4 103.2 97.5 99.2 97.6 8

 9 Corporate and foreign bonds 31.1 53.3 78.1 89.0 84.1 88.7 96.3 94.7 98.2 102.5 9

10 Total loans 1445.3 1603.3 1706.3 1854.7 2016.6 2100.2 2097.0 2139.8 2223.5 2407.1 10

11 Open market paper 9.7 8.6 11.2 10.1 9.9 12.7 10.6 9.2 7.3 5.8 11

12 Bank loans n.e.c. 661.7 730.2 731.8 773.0 814.5 820.0 788.2 779.2 772.0 834.9 12

13 Mortgages 431.2 504.7 594.8 676.9 770.7 849.3 881.3 900.5 947.8 1012.7 13

14 Consumer credit 297.2 320.2 334.1 360.8 383.3 382.0 370.2 362.9 395.7 458.8 14

15 Security credit 45.4 39.6 34.4 33.9 38.2 36.2 46.8 88.0 100.7 94.9 15

16 Corporate equities 0.1 0.1 0.0 0.0 4.7 2.2 3.8 3.4 4.3 2.9 16

17 Mutual fund shares 0.0 0.0 0.0 0.0 2.2 1.9 3.7 3.4 3.9 2.0 17

18 Customers’ liab. on acceptances (2) 60.0 54.4 59.8 57.5 55.4 45.5 35.3 31.7 25.3 22.9 18

19 Miscellaneous assets 286.5 319.8 351.9 374.2 476.5 454.4 472.7 549.3 627.0 738.0 19

20 Total liabilities 2279.3 2516.1 2688.7 2890.1 3149.7 3251.1 3363.3 3532.8 3750.3 4048.9 20

21 Net interbank liabilities -45.1 -36.8 5.8 10.1 -1.7 23.7 33.4 74.5 121.7 211.2 21

22 To monetary authority 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 22

23 To domestic banks (3) -18.3 -24.5 -28.1 -28.5 -31.0 -32.0 -4.2 -9.3 -4.7 -6.5 23

24 To foreign banks -30.9 -15.2 29.3 35.2 27.7 53.3 36.6 79.9 125.4 218.2 24

25 Checkable deposits 473.7 568.2 548.5 565.6 562.3 584.0 621.6 714.3 788.4 756.7 25

26 Federal government 25.8 27.5 21.6 29.0 25.6 30.9 36.4 30.6 42.6 23.8 26

27 Rest of the world 20.7 23.5 22.2 21.6 21.5 21.4 19.4 21.7 21.2 23.2 27

28 Private domestic 427.3 517.3 504.7 515.1 515.2 531.6 565.7 662.1 724.5 709.8 28

29 Small time and savings deposits 907.9 982.1 1010.0 1084.0 1184.7 1307.7 1386.5 1389.2 1377.2 1376.2 29

30 Large time deposits 332.1 333.6 375.0 416.8 445.7 423.6 399.6 332.8 311.7 333.0 30

31 Federal funds and security RPs (net) 186.4 205.6 215.8 236.6 274.5 248.8 229.6 272.2 313.7 391.8 31

32 Credit market instruments 188.3 195.9 217.4 219.4 224.6 197.7 184.6 194.6 208.0 228.1 32

33 Open market paper 111.0 101.9 108.9 106.0 106.1 82.2 62.1 54.4 51.9 55.0 33

34 Corporate bonds 74.4 90.5 104.0 109.1 113.7 108.9 113.2 127.6 134.9 142.6 34

35 Other loans and advances 3.0 3.5 4.5 4.3 4.7 6.7 9.3 12.5 21.2 30.5 35

36 Taxes payable 0.4 0.4 0.4 0.6 0.8 0.6 0.5 0.7 1.2 1.9 36

37 Miscellaneous liabilities 235.6 267.1 315.8 357.1 459.0 465.1 507.6 554.6 628.4 750.1 37

 Memo:

38 Credit market funds advanced (4) 1989.5 2187.6 2323.0 2479.5 2647.4 2772.5 2853.3 2948.6 3090.8 3254.3 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, 1985-1994, Z.1, December 9, 2004

L.110 U.S.-Chartered Commercial Banks

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 1990.2 2166.0 2257.1 2384.9 2545.3 2644.2 2677.3 2775.2 2932.4 3122.9 1

 2 Vault cash and reserves at Federal Reserve 48.2 65.5 59.5 60.5 58.7 66.7 59.2 60.2 63.2 65.2 2

 3 Total bank credit 1847.5 2011.4 2108.4 2237.5 2390.6 2481.3 2527.4 2623.5 2780.9 2921.4 3

 4 Treasury securities 182.6 188.5 185.4 176.0 155.7 157.4 207.8 254.3 275.0 248.0 4

 5 Agency- and GSE-backed securities 74.2 110.7 138.6 167.9 222.1 274.9 321.2 360.1 396.3 398.1 5

 6 Mortgage pass-through securities 24.0 49.6 71.9 86.7 123.2 144.7 153.7 155.5 173.2 182.2 6

 7 CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 54.8 89.4 122.7 133.8 119.4 7

 8 Other 50.3 61.1 66.7 81.2 98.9 75.4 78.1 81.9 89.3 96.5 8

 9 Municipal securities 231.1 202.8 173.7 150.9 133.2 116.8 102.7 97.0 98.9 97.0 9

10 Corporate and foreign bonds 17.2 35.6 56.3 68.6 61.8 65.4 69.7 66.6 66.6 66.0 10

11 Private mortgage pass-through securities 0.4 3.7 3.8 3.1 3.5 3.2 3.5 3.8 4.7 3.6 11

12 Private CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 28.2 21.6 19.8 21.5 12

13 Other 16.9 31.9 52.5 65.5 58.3 62.2 38.0 41.1 42.1 40.9 13

14 Total loans 1342.3 1473.8 1554.4 1674.0 1810.8 1862.8 1818.4 1838.6 1935.9 2107.4 14

15 Open market paper 8.5 7.5 9.0 8.3 7.8 8.5 7.5 5.9 4.9 3.6 15

16 Bank loans n.e.c. 574.6 619.6 603.4 623.9 649.7 645.2 589.0 569.6 578.4 624.6 16

17 Mortgages 423.5 493.9 578.5 651.9 736.9 799.3 821.8 842.9 895.5 963.7 17

18 Consumer credit 297.2 320.2 334.1 360.8 383.3 382.0 370.2 362.9 395.7 458.8 18

19 Security credit 38.5 32.5 29.4 29.0 33.2 27.8 30.0 57.3 61.4 56.8 19

20 Corporate equities 0.0 0.0 0.0 0.0 4.7 2.1 3.8 3.4 4.3 2.9 20

21 Mutual fund shares 0.0 0.0 0.0 0.0 2.2 1.9 3.7 3.4 3.9 2.0 21

22 Customers’ liab. on acceptances (1) 37.9 30.6 29.6 26.5 21.3 17.2 12.6 12.6 10.1 9.9 22

23 Miscellaneous assets 56.6 58.4 59.6 60.4 74.7 79.0 78.1 79.0 78.1 126.4 23

24 Total liabilities 2026.5 2200.0 2303.7 2470.4 2620.4 2722.9 2777.7 2862.2 3036.3 3271.5 24

25 Net interbank liabilities -56.6 -64.7 -42.2 -38.3 -57.9 -52.1 -41.1 -48.8 -19.4 60.5 25

26 Federal Reserve float 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 26

27 Borrowing from Federal Reserve banks 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 27

28 To domestic banks -45.5 -49.7 -47.2 -44.5 -56.5 -69.0 -47.9 -33.6 -19.9 -13.3 28

29 To foreign banks -15.2 -17.8 0.3 2.7 -3.0 14.5 5.9 -19.2 -0.5 74.3 29

30 Checkable deposits 461.4 554.6 535.5 551.3 547.8 569.8 607.4 700.2 773.9 741.7 30

31 Federal government 25.8 27.5 21.6 29.0 25.6 30.9 36.4 30.6 42.6 23.8 31

32 Rest of the world 16.0 18.7 17.2 16.6 16.7 16.3 14.1 15.8 15.6 17.1 32

33 Private domestic 419.7 508.4 496.6 505.7 505.5 522.6 556.9 653.8 715.8 700.8 33

34 Small time and savings deposits 897.2 968.7 996.1 1069.2 1165.7 1287.6 1367.5 1369.5 1358.6 1357.9 34

35 Large time deposits 295.6 289.0 326.7 361.9 385.8 365.4 292.3 216.1 196.1 214.0 35

36 Federal funds and security RPs (net) 178.8 189.6 201.4 217.7 253.3 219.6 192.6 234.3 279.8 351.4 36

37 Acceptance liabilities 40.2 31.5 30.5 27.2 22.0 17.6 12.9 12.8 10.2 10.0 37

38 Corporate bonds 14.6 16.8 17.5 17.2 20.0 24.2 25.2 33.5 37.1 40.6 38

39 Other loans and advances 3.0 3.5 4.5 4.3 4.7 6.7 9.3 12.5 21.2 30.5 39

40 Taxes payable 0.4 0.4 0.4 0.6 0.8 0.6 0.5 0.7 1.2 1.9 40

41 Miscellaneous liabilities 192.0 210.6 233.3 259.2 278.2 283.6 311.2 331.3 377.6 463.0 41

42 Investment by bank holding companies 152.1 168.8 172.6 193.8 202.4 207.8 227.2 255.0 286.6 304.2 42

43 Other 39.9 41.7 60.8 65.4 75.8 75.8 84.0 76.3 91.0 158.9 43

 Memo:

44 Credit market funds advanced (2) 1846.9 2009.4 2108.6 2235.0 2371.9 2466.7 2502.5 2571.9 2721.5 2869.6 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, 1985-1994, Z.1, December 9, 2004 63

L.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 144.3 186.4 235.7 265.8 358.9 366.5 437.5 509.3 542.2 589.7 1

 2 Reserves at Federal Reserve 2.0 2.6 2.2 1.1 1.0 1.2 0.9 0.7 1.0 1.0 2

 3 Total bank credit 102.0 135.4 160.9 189.5 213.3 250.9 313.4 347.4 350.2 362.3 3

 4 Treasury securities 4.8 6.9 6.5 6.6 6.4 11.4 20.8 29.6 36.1 32.7 4

 5 Agency- and GSE-backed securities 1.1 2.6 3.8 4.9 5.2 7.2 11.2 14.1 21.5 23.0 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 Corporate and foreign bonds 6.3 11.3 14.4 13.7 14.7 17.7 21.4 22.4 23.8 28.9 7

 8 Total loans 89.7 114.5 136.2 164.3 186.9 214.6 260.0 281.3 268.8 277.7 8

 9 Open market paper 1.2 1.0 2.2 1.7 2.1 4.1 3.1 3.3 2.4 2.2 9

10 Bank loans n.e.c. 75.8 97.7 115.1 135.6 149.6 156.5 185.8 195.7 182.0 197.2 10

11 Mortgages 5.7 8.7 13.9 22.1 30.2 45.5 54.3 51.6 45.1 40.3 11

12 Security credit 7.0 7.1 5.0 4.9 5.0 8.4 16.8 30.7 39.3 38.1 12

13 Corporate equities 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Customers’ liab. on acceptances (2) 22.1 23.8 30.2 31.0 34.0 28.3 22.7 19.1 15.1 13.0 14

15 Miscellaneous assets 18.1 24.6 42.3 44.3 110.6 86.1 100.5 142.1 175.9 213.5 15

16 Total liabilities 148.8 191.3 240.9 271.8 365.7 374.3 446.4 519.3 553.7 602.8 16

17 Net interbank liabilities 39.3 55.1 70.0 74.1 78.8 87.1 88.9 134.3 151.2 162.3 17

18 To foreign banks 0.9 17.9 40.8 42.6 38.9 46.7 41.1 103.5 132.7 158.5 18

19 To domestic banks 38.4 37.2 29.2 31.5 39.9 40.3 47.8 30.8 18.5 3.9 19

20 Checkable deposits 7.3 8.3 7.6 8.7 8.4 8.7 8.9 8.3 8.3 8.8 20

21 Small time and savings deposits 4.9 7.1 7.8 8.3 12.0 11.0 11.0 11.2 10.4 9.3 21

22 Large time deposits 30.7 38.3 42.1 48.4 52.9 49.2 99.3 108.2 107.4 110.0 22

23 Federal funds and security RPs (net) 7.6 16.1 14.4 18.9 21.2 29.6 38.4 39.0 34.7 41.4 23

24 Acceptance liabilities 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 24

25 Miscellaneous liabilities 34.5 39.3 65.1 79.1 157.1 154.2 175.0 197.1 225.7 257.6 25

26 Foreign direct investment in U.S. 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 26

27 Due to affiliates 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 27

28 Other 0.4 0.0 16.7 15.3 89.0 88.1 102.9 124.8 157.1 187.3 28

 Memo:

29 Credit market funds advanced (3) 117.1 152.0 186.2 215.6 242.3 270.8 319.2 335.8 326.0 337.1 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, 1985-1994, Z.1, December 9, 2004

L.112 Bank Holding Companies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 219.2 245.8 261.6 279.7 303.4 298.4 302.3 342.8 387.9 414.1 1

 2 Credit market instruments 11.8 11.5 13.5 13.4 16.2 13.4 11.9 17.5 17.5 18.4 2

 3 Treasury securities 0.8 0.6 0.7 0.8 0.9 0.7 1.0 6.1 5.3 4.6 3

 4 Agency- and GSE-backed securities 2.1 1.7 2.1 2.1 2.4 1.9 2.4 2.2 3.1 4.8 4

 5 Corporate and foreign bonds 6.8 5.5 6.5 6.7 7.5 5.6 5.1 5.4 7.2 7.1 5

 6 Bank loans n.e.c. 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 6

 7 Miscellaneous assets 207.3 234.3 248.2 266.3 287.2 285.0 290.4 325.2 370.4 395.8 7

 8 Investment in bank subsidiaries 152.1 168.8 172.6 193.8 202.4 207.8 227.2 255.0 286.6 304.2 8

 9 Investment in nonbank subsidiaries 51.1 59.5 68.3 65.9 76.0 55.2 40.9 43.2 56.3 56.4 9

10 Other 4.2 6.0 7.3 6.6 8.8 22.0 22.2 27.0 27.5 35.2 10

11 Total liabilities 81.9 104.0 124.7 127.0 140.4 126.4 114.8 124.4 132.2 143.0 11

12 Net interbank liabilities -27.8 -27.2 -22.0 -25.6 -22.6 -11.2 -14.3 -11.0 -10.0 -11.7 12

13 To domestic banks -11.2 -11.9 -10.2 -15.5 -14.3 -3.4 -4.1 -6.5 -3.3 2.9 13

14 To foreign banks -16.6 -15.3 -11.8 -10.1 -8.3 -7.9 -10.3 -4.5 -6.8 -14.6 14

15 Federal funds and security RPs (net) 0.0 0.0 0.0 0.0 -0.0 -0.4 -1.4 -1.2 -0.8 -0.9 15

16 Credit market instruments 106.2 116.8 131.1 136.2 142.5 114.8 112.3 114.6 123.4 133.6 16

17 Commercial paper 46.4 43.1 44.6 44.4 48.8 30.1 24.3 20.4 25.6 31.6 17

18 Corporate bonds 59.8 73.7 86.5 91.8 93.7 84.7 88.0 94.1 97.7 102.0 18

19 Miscellaneous liabilities 3.5 14.4 15.6 16.3 20.6 23.3 18.2 22.0 19.6 22.0 19

L.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

 1 Total financial assets 22.6 21.4 20.1 21.7 23.8 28.3 25.1 27.7 29.4 33.1 1

 2 Checkable deposits and currency 4.5 4.4 3.6 3.0 2.6 2.5 1.8 1.3 1.0 1.4 2

 3 Credit market instruments 13.7 14.6 14.7 15.5 17.1 21.6 19.7 23.4 25.8 29.2 3

 4 Treasury securities 1.2 1.7 1.7 1.9 2.2 2.5 2.8 4.3 5.8 5.1 4

 5 Agency- and GSE-backed securities 0.0 0.0 0.0 0.4 0.8 0.9 1.0 2.1 2.3 2.8 5

 6 Municipal securities 0.6 0.6 0.6 0.7 0.6 0.6 0.5 0.5 0.2 0.6 6

 7 Corporate and foreign bonds 0.7 0.9 0.9 0.0 0.1 0.0 0.1 0.4 0.6 0.5 7

 8 Bank loans n.e.c. 9.1 9.3 9.1 9.6 9.7 13.0 10.0 10.2 9.7 11.3 8

 9 Home mortgages 1.3 1.3 1.5 1.7 1.9 2.0 2.0 3.0 4.1 4.8 9

10 Commercial mortgages 0.8 0.8 0.9 1.2 1.8 2.5 3.2 3.0 3.1 4.0 10

11 Miscellaneous assets 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 11

12 Total liabilities 22.1 20.7 19.5 21.0 23.1 27.5 24.4 26.9 28.2 31.7 12

13 Checkable deposits 4.9 5.4 5.4 5.6 6.1 5.4 5.2 5.8 6.1 6.2 13

14 Small time and savings deposits 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 14

15 Large time deposits 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 15

16 Miscellaneous liabilities 5.6 2.9 1.8 2.4 3.1 4.0 3.1 4.2 5.6 7.4 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, 1985-1994, Z.1, December 9, 2004 65

L.114 Savings Institutions (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 1274.9 1376.2 1504.5 1639.8 1510.4 1323.0 1144.9 1060.4 1020.2 1008.6 1

 2 Reserves at Federal Reserve 3.9 5.6 4.9 5.3 4.5 3.4 2.9 3.1 3.4 2.8 2

 3 Checkable deposits and currency 12.0 12.5 10.2 12.1 11.3 11.0 12.9 12.4 15.4 13.9 3

 4 Time and savings deposits 11.9 15.9 7.3 7.4 5.3 5.2 5.0 3.7 3.0 1.3 4

 5 Federal funds and security RPs 22.1 19.9 19.0 20.2 24.2 21.6 15.1 14.4 10.6 6.5 5

 6 Credit market instruments 1097.6 1191.0 1310.3 1409.3 1316.0 1176.5 1013.2 937.4 914.1 920.8 6

 7 Open market paper 3.5 5.3 4.3 5.1 4.7 0.7 1.3 0.6 0.3 0.1 7

 8 Treasury securities 34.5 38.0 47.5 34.9 26.8 25.9 25.0 34.0 28.2 27.1 8

 9 Agency- and GSE-backed securities 146.8 193.1 236.7 257.2 208.9 185.7 145.0 143.0 147.3 159.9 9

10 Mortgage pass-through securities 127.6 170.6 215.2 221.5 175.4 154.8 123.6 120.7 123.5 133.8 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 19.2 22.4 21.5 35.8 33.5 30.9 21.5 22.4 23.7 26.1 12

13 Municipal securities 3.4 3.1 3.1 2.8 2.6 3.0 2.4 2.1 2.1 2.0 13

14 Corporate and foreign bonds 56.8 64.1 88.2 105.3 91.0 75.6 72.7 80.0 89.1 86.7 14

15 Private mortgage pass-through securities 0.0 0.0 15.6 21.3 25.4 27.1 27.2 26.4 30.2 29.2 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 56.8 64.1 72.6 84.1 65.6 48.5 45.5 53.6 58.9 57.6 17

18 Other loans and advances 29.3 39.8 40.9 49.2 47.0 34.3 19.3 12.4 10.8 10.3 18

19 Mortgages 765.7 784.8 824.3 888.0 872.5 801.6 705.4 628.0 598.4 596.2 19

20 Consumer credit 57.6 62.9 65.3 66.8 62.5 49.6 42.2 37.4 37.9 38.5 20

21 Corporate equities 5.2 7.0 7.0 8.5 11.0 8.8 10.3 11.2 12.5 10.4 21

22 Miscellaneous assets 122.1 124.3 145.8 177.0 138.1 96.6 85.5 78.2 61.0 53.0 22

23 Total liabilities 1265.5 1361.5 1472.7 1604.8 1484.4 1341.5 1160.0 1067.9 1016.1 998.3 23

24 Deposits 1032.8 1076.7 1120.8 1192.6 1170.4 1050.2 937.6 852.9 785.5 733.6 24

25 Checkable 44.8 61.9 67.2 74.0 72.8 68.0 85.3 84.0 88.3 83.0 25

26 Small time and savings 832.7 858.1 888.7 942.8 935.8 862.3 767.7 692.2 624.1 579.7 26

27 Large time 155.3 156.7 164.9 175.9 161.7 119.9 84.6 76.7 73.0 71.0 27

28 Security RPs 40.4 57.5 85.7 103.9 57.8 42.5 19.6 18.6 26.1 44.5 28

29 Credit market instruments 111.4 135.7 164.4 186.0 171.0 140.1 95.4 88.4 99.6 112.4 29

30 Corporate bonds 10.5 15.4 19.8 21.7 18.3 12.7 8.6 5.5 3.9 3.1 30

31 Bank loans n.e.c. 10.9 10.2 9.7 9.9 9.2 9.7 8.9 8.9 8.4 9.3 31

32 Other loans and advances 90.0 110.0 134.8 154.5 143.6 117.7 77.8 74.0 87.3 100.0 32

33 Taxes payable 1.1 1.1 1.2 1.2 1.1 0.9 1.2 1.4 1.9 1.0 33

34 Miscellaneous liabilities 79.9 90.5 100.7 121.0 84.1 107.8 106.3 106.7 102.9 106.6 34

35 Investment by parent 7.2 7.3 6.5 6.4 6.4 6.0 5.0 4.0 4.4 4.4 35

36 Other 72.7 83.2 94.3 114.5 77.7 101.8 101.3 102.7 98.5 102.2 36

(1) Savings and loan associations, mutual savings banks, and federal savings banks.
66 FFA, 1985-1994, Z.1, December 9, 2004

L.115 Credit Unions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 134.8 163.4 178.8 192.8 201.9 217.2 240.0 264.7 281.7 293.6 1

 2 Checkable deposits and currency 3.3 4.0 4.0 4.2 4.8 4.8 5.4 6.6 6.5 6.5 2

 3 Time and savings deposits 20.0 27.0 27.4 24.0 21.2 21.7 26.7 27.0 25.6 16.7 3

 4 Federal funds and security RPs 8.4 10.9 9.2 9.4 12.5 14.6 13.2 13.5 8.5 6.2 4

 5 Credit market instruments 98.4 113.9 131.3 148.8 156.0 166.6 179.4 197.1 218.7 246.8 5

 6 Open market paper 0.2 0.7 0.5 0.9 1.1 2.3 2.6 3.0 2.2 2.1 6

 7 Treasury securities 6.2 8.0 11.2 14.4 12.1 8.5 14.1 19.9 22.6 22.1 7

 8 Agency- and GSE-backed securities 7.0 8.8 8.8 7.1 6.3 14.4 19.6 28.7 36.3 40.9 8

 9 Home mortgages 11.1 19.3 29.9 38.1 44.8 49.7 52.8 53.8 56.0 62.1 9

10 Consumer credit 74.0 77.1 81.0 88.3 91.7 91.6 90.3 91.7 101.6 119.6 10

11 Mutual fund shares 0.0 0.0 1.8 1.4 1.2 1.4 2.6 4.1 4.2 2.6 11

12 Miscellaneous assets 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.2 14.8 12

13 Total liabilities 128.3 155.7 169.9 182.7 190.7 204.7 225.8 247.5 260.8 270.3 13

14 Shares/deposits 125.5 152.7 166.0 178.4 187.0 200.8 221.3 242.9 255.5 263.4 14

15 Checkable 12.6 13.0 14.7 15.5 16.8 18.3 20.5 25.1 26.8 28.8 15

16 Small time and savings 111.7 137.8 149.2 160.5 164.7 179.1 196.5 212.0 221.8 227.3 16

17 Large time 1.2 1.8 2.1 2.5 5.5 3.4 4.2 5.8 6.9 7.3 17

18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 18

19 Miscellaneous liabilities 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 19

L.116 Bank Personal Trusts and Estates (1)

Billions of dollars

 1 Total financial assets 358.3 404.4 414.2 443.7 515.1 522.1 608.3 629.6 660.9 670.0 1

 2 Deposits 24.7 31.6 34.1 40.0 43.3 47.2 46.2 40.6 39.5 41.4 2

 3 Checkable deposits and currency 0.9 1.7 1.0 1.0 0.9 1.0 1.0 0.9 0.8 0.5 3

 4 Time and savings deposits 11.0 13.5 16.6 19.2 20.0 20.3 15.7 10.5 9.4 11.0 4

 5 Money market fund shares 12.8 16.4 16.6 19.8 22.3 26.0 29.6 29.2 29.3 29.9 5

 6 Credit market instruments 132.8 151.4 163.9 177.8 197.5 213.4 223.5 231.5 240.9 248.0 6

 7 Open market paper 21.5 25.6 22.4 26.3 30.9 30.5 25.2 22.8 19.5 23.0 7

 8 Treasury securities 23.3 23.9 27.2 31.6 34.4 37.4 36.9 34.0 32.5 30.0 8

 9 Agency- and GSE-backed securities 19.2 20.0 22.4 25.8 28.0 33.3 36.7 37.9 40.6 42.0 9

10 Municipal securities 48.2 56.9 63.1 65.9 73.0 80.8 89.9 96.0 108.9 114.2 10

11 Corporate and foreign bonds 15.7 20.5 25.1 24.5 27.1 27.3 30.7 36.8 35.8 35.3 11

12 Mortgages 5.0 4.5 3.7 3.7 4.1 4.2 4.0 3.9 3.6 3.4 12

13 Corporate equities 171.4 163.8 156.4 171.7 207.3 190.1 234.2 216.9 181.0 167.3 13

14 Mutual fund shares 22.7 51.1 52.0 46.5 57.9 62.7 93.6 128.1 183.5 200.4 14

15 Miscellaneous assets 6.8 6.5 7.8 7.6 9.0 8.7 10.8 12.6 16.0 12.9 15

16 Total liabilities (2) 384.3 429.1 442.1 470.3 541.4 551.7 639.3 660.6 691.3 699.4 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, 1985-1994, Z.1, December 9, 2004 67

L.117 Life Insurance Companies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 796.1 905.9 1005.3 1125.0 1245.5 1351.4 1479.5 1587.0 1754.9 1862.9 1

 2 Checkable deposits and currency 5.1 5.8 4.9 4.6 5.0 4.9 5.5 4.8 5.2 5.6 2

 3 Money market fund shares 9.1 10.0 6.9 7.0 6.2 18.1 19.6 25.0 31.5 16.2 3

 4 Credit market instruments 646.6 734.5 823.1 927.2 1028.3 1134.5 1218.9 1304.4 1415.5 1487.5 4

 5 Open market paper 29.1 34.5 34.0 39.2 42.8 45.7 45.8 43.2 46.9 52.8 5

 6 Treasury securities 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 6

 7 Agency- and GSE-backed securities 49.4 60.0 67.0 75.7 100.8 121.0 164.2 193.0 222.8 234.1 7

 8 Municipal securities 9.7 11.7 10.7 9.1 9.0 12.3 10.2 11.4 14.7 12.8 8

 9 Corporate and foreign bonds 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 9

10 Policy loans 54.4 54.1 53.6 54.2 57.4 61.6 66.4 72.1 77.7 85.5 10

11 Mortgages 171.8 193.8 212.4 232.9 254.2 267.9 259.5 242.0 223.9 215.8 11

12 Corporate equities 74.0 76.4 80.5 81.4 91.8 81.9 135.8 151.6 205.8 231.4 12

13 Mutual fund shares 3.5 14.5 12.1 18.5 19.1 30.7 8.6 18.2 21.3 24.4 13

14 Miscellaneous assets 57.8 64.8 77.8 86.4 95.1 81.3 91.1 83.0 75.7 97.9 14

15 Total liabilities 750.8 855.9 947.3 1068.7 1185.9 1291.3 1409.6 1525.1 1677.8 1773.5 15

16 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 16

17 Life insurance reserves 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 17

18 Pension fund reserves (1) 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 18

19 Taxes payable 2.5 3.1 3.4 3.8 4.8 5.3 6.4 7.8 9.4 10.4 19

20 Miscellaneous liabilities 241.4 261.2 305.8 314.9 342.8 348.1 388.3 402.5 435.9 474.5 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 298.6 353.6 405.0 453.9 503.0 533.5 575.8 597.9 642.5 678.1 1

 2 Checkable deposits and currency 4.3 5.6 5.5 5.4 6.0 6.5 5.3 5.6 5.2 5.0 2

 3 Security RPs 23.6 23.7 24.6 27.9 27.8 31.0 26.9 32.6 31.7 29.4 3

 4 Credit market instruments 176.5 219.2 258.6 287.9 317.5 344.0 376.6 389.4 422.7 446.4 4

 5 Treasury securities 28.8 42.6 51.0 60.0 71.0 79.0 104.0 108.7 124.5 133.0 5

 6 Agency- and GSE-backed securities 22.2 22.3 22.3 22.6 26.0 32.0 42.1 42.6 44.5 45.8 6

 7 Municipal securities 88.2 101.9 124.8 134.1 134.8 136.9 126.8 134.3 146.1 153.8 7

 8 Corporate and foreign bonds 33.9 48.0 55.5 65.7 79.3 89.2 97.2 97.8 103.1 110.1 8

 9 Commercial mortgages 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 9

10 Corporate equities 57.0 61.2 65.1 71.4 84.0 79.9 94.1 97.3 103.4 112.1 10

11 Trade receivables 27.2 32.1 35.7 42.5 45.3 47.2 49.1 49.0 50.7 52.9 11

12 Miscellaneous assets 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 12

13 Total liabilities 215.6 259.5 305.9 337.9 372.8 400.5 421.1 445.5 463.1 479.7 13

14 Taxes payable 0.9 1.1 1.6 2.3 2.9 3.6 4.7 5.6 7.0 7.9 14

15 Miscellaneous liabilities 214.7 258.4 304.3 335.6 369.9 396.9 416.4 439.9 456.1 471.9 15
68 FFA, 1985-1994, Z.1, December 9, 2004

L.119 Private Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 1226.3 1284.1 1351.6 1404.8 1629.4 1626.7 1928.6 2036.0 2283.0 2433.8 1

 2 Checkable deposits and currency 3.3 1.9 1.7 4.5 4.1 3.3 3.0 3.0 3.2 4.0 2

 3 Time and savings deposits 76.6 87.0 76.2 87.1 114.6 110.4 115.9 98.8 95.4 102.1 3

 4 Money market fund shares 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 4

 5 Security RPs 19.2 20.9 20.4 22.7 24.8 23.5 27.2 27.4 28.3 22.2 5

 6 Credit market instruments 328.9 333.5 347.1 369.1 420.7 464.2 489.6 515.6 551.8 591.4 6

 7 Open market paper 22.0 26.3 33.5 27.4 26.8 26.3 29.6 29.4 30.1 23.9 7

 8 Treasury securities 128.6 112.8 113.0 112.7 122.4 122.4 117.1 108.7 104.3 121.1 8

 9 Agency- and GSE-backed securities 67.1 59.2 72.3 86.7 110.5 133.1 146.0 156.5 170.6 211.5 9

10 Corporate and foreign bonds 97.2 124.0 120.1 125.6 137.8 157.5 178.7 206.5 233.7 227.1 10

11 Mortgages 14.0 11.3 8.2 16.7 23.3 24.9 18.2 14.5 13.0 7.8 11

12 Corporate equities 515.8 523.5 532.6 515.2 635.5 605.9 806.2 873.7 1014.3 1013.7 12

13 Mutual fund shares 11.1 12.1 19.9 23.4 33.0 40.5 66.4 96.2 142.2 205.9 13

14 Miscellaneous assets 262.5 294.2 340.7 367.8 378.8 361.1 401.4 401.5 421.5 462.9 14

15 Unallocated insurance contracts (2) 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 15

16 Contributions receivable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 16

17 Other 112.0 128.6 134.2 161.9 147.8 114.0 112.5 99.6 87.0 86.7 17

18 Pension fund reserves (liabilities) (3) 1250.4 1314.9 1383.6 1429.8 1660.9 1656.1 1957.3 2060.4 2305.9 2470.9 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 398.7 476.5 526.7 609.0 752.6 800.6 883.7 963.3 1054.9 1089.6 1

 2 Checkable deposits and currency 2.4 3.1 4.8 4.4 3.2 5.0 3.8 6.5 6.6 6.7 2

 3 Time and savings deposits 13.3 9.9 5.2 7.1 9.1 7.7 8.8 6.9 6.2 2.5 3

 4 Security RPs 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 4

 5 Credit market instruments 252.4 297.1 328.8 350.5 381.5 402.0 404.6 441.8 468.6 478.7 5

 6 Open market paper 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 6

 7 Treasury securities 85.4 115.3 138.9 150.7 152.4 168.2 165.5 203.5 217.5 215.6 7

 8 Agency- and GSE-backed securities 38.1 38.1 43.0 35.3 51.2 62.9 58.0 39.8 35.8 39.9 8

 9 Municipal securities 1.1 0.7 0.8 0.5 0.3 0.5 0.6 0.4 1.4 1.1 9

10 Corporate and foreign bonds 107.4 119.1 119.5 138.2 152.6 142.1 144.7 156.9 179.0 179.1 10

11 Mortgages 15.3 15.6 15.3 15.6 15.3 16.1 16.9 16.5 14.5 15.2 11

12 Corporate equities 120.1 150.2 170.1 212.6 277.8 284.6 395.0 431.7 506.2 521.7 12

13 Miscellaneous assets 5.6 8.0 6.5 24.1 71.3 89.1 52.6 51.7 46.8 52.2 13

14 Pension fund reserves (liabilities) (1) 402.0 480.7 532.0 615.4 760.5 810.1 893.8 973.9 1066.6 1104.7 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 172.1 201.7 233.0 267.5 304.2 340.4 382.1 426.3 468.4 511.5 1

 2 Credit market instruments 0.0 0.0 1.1 2.7 4.9 7.4 10.0 13.1 16.2 19.9 2

 3 Treasury securities 0.0 0.0 1.1 2.7 4.9 7.3 9.8 12.6 15.3 18.8 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 0.5 0.7 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.3 0.4 0.4 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 6

 7 Miscellaneous assets 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 7

 8 Pension fund reserves (liabilities) (2) 172.1 201.7 233.0 267.5 304.2 340.4 382.1 426.3 468.4 511.5 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, 1985-1994, Z.1, December 9, 2004 69

L.122 Money Market Mutual Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 1

 2 Foreign deposits 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 2

 3 Checkable deposits and currency 0.2 -0.0 -0.3 0.7 0.1 11.2 -0.2 -2.7 -1.2 -2.5 3

 4 Time and savings deposits 17.3 20.1 34.5 33.8 43.0 21.9 35.1 34.6 31.9 31.4 4

 5 Security RPs 25.9 31.9 38.9 41.2 54.3 58.2 67.0 65.9 66.4 68.8 5

 6 Credit market instruments 178.2 213.1 215.0 225.5 293.7 371.3 403.9 408.6 429.0 459.0 6

 7 Open market paper 98.4 104.4 110.1 127.5 184.5 204.0 190.6 173.6 164.4 187.2 7

 8 Treasury securities 24.4 27.8 14.1 11.4 14.6 44.9 78.3 78.4 79.4 66.1 8

 9 Agency- and GSE-backed securities 18.0 15.0 26.7 18.2 20.8 36.4 40.6 54.3 67.8 77.2 9

10 Municipal securities 36.4 64.1 61.8 66.1 70.1 84.0 90.6 96.0 105.6 113.4 10

11 Corporate and foreign bonds 1.0 1.8 2.2 2.3 3.7 2.0 3.8 6.3 11.7 15.2 11

12 Miscellaneous assets 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 12

13 Total shares outstanding (liabilities) 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 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 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 1

 2 Security RPs 1.3 2.8 3.6 4.9 4.8 6.1 12.2 21.9 38.7 43.1 2

 3 Credit market instruments 129.9 259.9 291.1 304.5 327.2 360.1 440.2 566.4 725.9 718.8 3

 4 Open market paper 7.9 15.8 19.5 28.6 28.0 28.5 12.2 21.9 38.7 43.1 4

 5 Treasury securities 38.8 71.2 84.1 80.3 81.4 87.1 103.9 110.4 134.0 130.5 5

 6 Agency- and GSE-backed securities 26.1 63.4 66.2 62.8 64.5 72.6 96.7 147.0 172.6 165.8 6

 7 Municipal securities 34.9 67.0 74.8 82.9 98.6 112.6 139.7 168.4 211.3 207.0 7

 8 Corporate and foreign bonds 22.2 42.4 46.6 49.8 54.6 59.3 87.7 118.7 169.3 172.4 8

 9 Corporate equities 113.7 161.2 181.7 187.6 250.5 233.2 308.9 401.3 607.4 709.6 9

10 Miscellaneous assets 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 10

11 Total shares outstanding (liabilities) 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 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 8.3 14.5 21.3 43.2 52.5 52.9 71.2 93.5 116.1 117.8 1

 2 Credit market instruments 4.1 7.0 11.0 28.8 35.4 36.7 49.5 69.7 89.7 86.0 2

 3 Treasury securities 0.6 1.0 1.6 4.8 6.6 6.8 10.0 11.6 13.7 12.8 3

 4 Municipal securities 1.0 2.0 3.3 7.5 12.1 14.1 25.4 39.7 51.8 53.4 4

 5 Corporate and foreign bonds 2.5 3.9 6.1 16.5 16.7 15.7 14.1 18.3 24.2 19.8 5

 6 Corporate equities 4.2 7.5 10.4 14.3 17.1 16.2 21.8 23.8 26.5 31.9 6

 7 Total shares outstanding (liabilities) 8.3 14.5 21.3 43.2 52.5 52.9 71.2 93.5 116.1 117.8 7

 Exchange-traded funds

 8 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 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 0.5 0.4 12

13 Total shares outstanding (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 13
70 FFA, 1985-1994, Z.1, December 9, 2004

L.125 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 324.0 346.4 374.4 421.7 454.2 477.6 496.9 552.8 631.7 782.3 1

 2 Checkable deposits and currency 2.1 3.7 3.6 3.6 2.3 2.1 1.2 1.2 2.1 1.3 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 26.9 29.4 27.2 33.8 61.8 68.7 67.6 66.6 50.3 85.8 4

 5 Credit market instruments 291.0 307.6 330.9 364.2 359.9 373.9 388.9 458.1 546.7 667.9 5

 6 Open market paper 0.1 0.1 0.0 0.4 3.3 3.8 10.9 13.5 11.9 26.3 6

 7 Treasury securities 6.8 16.3 21.0 26.3 13.0 34.3 40.8 58.7 51.6 51.9 7

 8 Agency- and GSE-backed securities 0.8 0.2 0.1 0.3 6.3 11.9 34.8 47.5 66.0 130.8 8

 9 Municipal securities 1.6 2.3 2.4 2.9 2.9 3.7 3.0 3.2 3.1 5.2 9

10 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 20.0 10

11 Other loans and advances 115.2 132.8 157.8 176.6 168.0 144.8 110.7 111.3 135.2 158.8 11

12 Sallie Mae 4.3 5.2 6.6 6.3 6.8 7.8 9.0 7.4 6.6 6.6 12

13 Farm Credit System 22.0 19.0 18.2 17.5 19.4 19.9 22.7 24.0 25.4 26.3 13

14 FHLB 88.8 108.6 133.1 152.8 141.8 117.1 79.1 79.9 103.1 125.9 14

15 Mortgages 159.7 147.8 139.5 144.5 150.5 156.1 167.7 199.7 241.0 244.6 15

16 Home 106.6 101.4 98.9 104.7 110.0 115.3 126.4 156.9 196.7 199.3 16

17 Multifamily residential 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 17

18 Farm 44.7 37.6 32.1 30.2 28.4 27.6 27.1 27.0 26.8 26.9 18

19 Consumer credit (2) 6.8 8.2 10.0 13.2 16.0 19.2 21.1 24.2 26.8 30.4 19

20 Miscellaneous assets 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 20

21 Total liabilities 318.8 341.8 368.8 414.8 446.3 467.8 484.2 537.4 613.0 760.2 21

22 Credit market instruments 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 22

23 GSE issues (3) 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 23

24 U.S. government loans 6.1 5.7 5.0 5.0 5.0 4.9 4.8 4.8 4.8 0.0 24

25 Miscellaneous liabilities 54.9 63.1 60.7 61.8 68.0 69.2 76.5 89.0 84.0 59.1 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 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 1

 2 Home mortgages 360.5 519.5 652.9 723.6 843.8 991.1 1130.4 1248.2 1334.3 1449.6 2

 3 Multifamily residential mortgages 7.0 11.9 16.4 21.6 25.7 28.7 26.1 23.8 22.5 22.4 3

 4 Commercial mortgages 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.4 5

 6 Total pool securities (liabilities)(2) 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 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, 1985-1994, Z.1, December 9, 2004 71

L.127 Issuers of Asset-Backed Securities (ABSs)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 37.2 74.7 118.3 154.4 209.8 284.3 364.2 471.2 556.4 629.2 1

 2 Agency- and GSE-backed securities (1) 10.1 52.8 81.1 106.2 98.3 117.8 116.5 140.9 162.6 182.7 2

 3 Other loans and advances 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 3

 4 Mortgages (2) 24.7 18.7 32.1 41.4 53.5 68.1 116.5 174.5 215.6 241.6 4

 5 Home 24.0 16.6 27.8 34.9 43.3 55.2 98.4 146.7 175.5 194.1 5

 6 Multifamily residential 0.0 0.2 0.5 1.0 1.0 0.9 3.8 6.6 8.4 9.9 6

 7 Commercial 0.6 1.9 3.8 5.6 9.2 12.0 14.3 21.2 31.6 37.7 7

 8 Consumer credit 0.0 0.0 0.0 0.0 47.3 76.7 103.0 120.3 130.5 146.1 8

 9 Trade receivables 2.4 3.3 5.1 6.8 8.7 17.4 21.5 25.8 28.4 35.2 9

10 Total liabilities 37.2 74.7 118.3 154.4 209.8 285.8 366.2 473.1 558.3 631.4 10

11 Commercial paper 2.4 3.3 5.1 6.8 15.7 31.4 38.7 46.9 51.6 63.9 11

12 Corporate bonds 34.8 71.4 113.2 147.6 194.1 254.4 327.5 426.2 506.7 567.5 12

 Memo:

 Securitized assets not included above

13 Consumer leases (3) 0.0 0.0 0.0 0.0 0.0 1.5 2.0 1.9 1.9 2.2 13

14 REIT assets (4) 2.2 6.7 13.0 14.6 15.3 15.3 15.0 14.3 12.5 9.0 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 338.4 387.3 446.4 490.6 519.5 547.0 559.7 555.6 557.4 599.7 1

 2 Checkable deposits and currency 5.5 5.9 6.5 7.3 8.3 9.4 10.6 11.9 13.3 14.9 2

 3 Credit market instruments 311.2 351.0 396.4 431.3 449.2 471.2 453.0 453.3 427.9 476.2 3

 4 Other loans and advances 150.2 165.8 200.1 228.7 250.8 268.1 263.8 264.9 249.0 274.9 4

 5 Mortgages 28.6 34.2 42.2 47.3 53.8 65.0 63.3 65.8 62.7 66.9 5

 6 Consumer credit 132.4 151.0 154.1 155.3 144.6 138.1 125.9 122.6 116.1 134.4 6

 7 Miscellaneous assets 21.8 30.4 43.6 52.0 62.0 66.3 96.2 90.4 116.1 108.5 7

 8 Total liabilities 321.2 370.8 425.2 461.2 483.9 511.8 531.5 547.9 554.2 618.5 8

 9 Credit market instruments 224.3 275.9 299.1 323.0 350.4 373.5 389.6 386.4 385.1 433.7 9

10 Open market paper 102.7 124.3 135.0 152.1 160.7 163.8 155.2 149.2 149.1 171.6 10

11 Corporate bonds 105.3 131.6 141.2 147.0 162.7 179.5 194.3 203.1 215.6 247.4 11

12 Bank loans n.e.c. 16.4 20.0 22.9 23.9 27.0 30.3 40.1 34.1 20.4 14.8 12

13 Taxes payable 0.1 0.2 0.4 0.7 1.0 1.4 1.9 2.6 3.3 4.1 13

14 Miscellaneous liabilities 96.7 94.8 125.7 137.6 132.4 136.8 140.0 158.9 165.8 180.6 14

15 Foreign direct investment in U.S. 1.4 3.6 3.5 2.7 9.3 4.6 5.6 9.5 33.8 20.0 15

16 Investment by parent 52.5 60.0 50.0 36.8 35.2 36.7 32.4 34.3 35.6 41.8 16

17 Other 42.8 31.2 72.2 98.2 87.8 95.5 102.0 115.1 96.4 118.8 17

 Memo:

18 Consumer leases not included above (2) 8.6 11.4 13.7 16.6 19.4 26.1 33.5 39.0 49.3 67.5 18

(1) Includes retail captive finance companies.

(2) See footnote (3), table L.127.
72 FFA, 1985-1994, Z.1, December 9, 2004

L.129 Mortgage Companies (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 24.7 36.6 23.9 29.0 49.2 49.2 60.3 60.5 60.4 36.5 1

 2 Home mortgages 18.5 29.5 17.7 22.6 42.8 41.9 53.1 52.7 52.2 28.3 2

 3 Multifamily residential mortgages 2.0 2.7 1.8 2.0 1.8 2.8 2.7 3.0 3.1 3.1 3

 4 Commercial mortgages 4.2 4.4 4.4 4.4 4.5 4.5 4.5 4.8 5.1 5.1 4

 5 Total liabilities 24.7 36.6 23.9 29.0 49.2 49.2 60.3 60.5 60.4 36.5 5

 6 Bank loans n.e.c. 16.7 25.7 14.5 14.5 24.6 24.6 22.2 30.2 30.2 18.7 6

 7 Investment by parent 8.1 10.9 9.4 14.5 24.6 24.6 38.2 30.3 30.2 17.7 7

(1) No data are available after 1997:Q4.

L.130 Real Estate Investment Trusts (REITs)

Billions of dollars

 1 Total financial assets 10.4 15.0 23.4 28.5 30.7 28.5 29.0 28.1 30.0 31.0 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 8.7 13.7 21.2 25.4 26.0 24.2 23.6 25.0 25.4 24.6 3

 4 Agency- and GSE-backed securities 2.8 7.7 14.2 16.7 17.6 16.5 16.6 15.9 15.6 9.2 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.2 2.1 5

 6 Mortgages 5.9 5.9 7.0 8.7 8.4 7.7 7.0 8.1 8.6 13.3 6

 7 Home 0.3 0.3 0.3 0.4 0.4 0.4 0.4 1.1 2.2 5.1 7

 8 Multifamily residential 1.8 1.8 2.1 2.6 2.5 2.3 2.2 2.2 1.9 2.1 8

 9 Commercial 3.8 3.9 4.5 5.6 5.4 5.0 4.5 4.8 4.5 6.1 9

10 Miscellaneous assets 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 10

11 Total liabilities 8.3 14.1 22.5 28.4 29.1 28.9 31.5 33.5 37.2 55.1 11

12 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 5.0 9.7 12

13 Credit market instruments 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 13

14 Open market paper 0.7 1.1 1.4 1.3 1.1 0.9 0.9 0.9 0.6 0.0 14

15 Corporate bonds 3.7 8.5 15.3 17.1 18.0 18.1 17.9 18.2 16.8 15.3 15

16 Bank loans n.e.c. 0.7 1.0 1.5 3.1 4.1 4.4 5.0 3.7 3.6 6.0 16

17 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 17

18 Miscellaneous liabilities 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 18

 Memo:

19 Securitized assets included above 2.2 6.7 13.0 14.6 15.3 15.3 15.0 14.3 12.5 9.0 19

20 Agency- and GSE-backed securities 2.2 6.7 13.0 14.6 15.3 15.3 15.0 13.7 11.4 6.4 20

21 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 1.1 2.5 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, 1985-1994, Z.1, December 9, 2004 73

L.131 Security Brokers and Dealers

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 156.0 184.6 137.9 135.9 236.6 262.1 332.5 381.7 478.8 454.7 1

 2 Checkable deposits and currency 6.3 8.5 7.4 9.4 9.8 10.2 10.2 10.4 12.3 12.0 2

 3 Credit market instruments 58.2 66.3 39.8 23.5 103.7 106.5 124.0 122.7 137.5 93.3 3

 4 Open market paper 14.5 12.6 14.2 14.8 17.8 18.4 14.0 15.2 14.9 11.2 4

 5 Treasury securities -4.0 4.1 -16.7 -47.4 21.5 7.3 5.7 -7.7 -28.3 -42.7 5

 6 Agency- and GSE-backed securities 4.9 9.8 14.6 19.5 24.4 44.0 54.0 53.0 60.8 45.0 6

 7 Municipal securities 19.9 16.6 8.3 7.5 7.1 7.9 9.4 11.3 17.1 15.5 7

 8 Corporate and foreign bonds 22.9 23.2 19.4 29.1 32.9 28.9 40.9 50.9 73.0 64.4 8

 9 Corporate equities 14.1 17.7 10.7 12.2 14.1 9.6 14.3 14.8 24.2 20.1 9

10 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 10

11 Miscellaneous assets 26.8 34.7 38.2 47.2 66.5 97.0 129.0 180.4 228.6 254.2 11

12 Total liabilities 141.3 164.3 114.5 111.5 213.2 239.2 308.7 352.8 441.9 420.9 12

13 Security RPs (net) 23.7 35.6 -8.8 -21.9 64.2 81.0 106.7 106.4 126.4 103.4 13

14 Corporate bonds 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 14

15 Trade payables 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 15

16 Security credit 80.5 83.6 73.5 74.8 91.4 98.6 133.8 164.2 202.9 203.9 16

17 Customer credit balances (HH) 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 17

18 From banks 45.4 39.6 34.4 33.9 38.2 36.2 46.8 88.0 100.7 94.9 18

19 Taxes payable 0.8 0.9 0.4 0.5 0.6 0.7 0.9 0.9 1.4 1.2 19

20 Miscellaneous liabilities 27.0 33.1 39.4 42.0 35.2 37.5 41.5 52.2 67.4 69.0 20

21 Foreign direct investment in U.S. 3.8 3.6 3.1 4.8 6.3 3.8 5.8 5.3 5.0 5.8 21

22 Due to affiliates 16.0 19.4 36.7 45.8 46.9 40.1 26.1 55.5 84.7 110.3 22

23 Other 7.1 10.1 -0.5 -8.7 -18.0 -6.3 9.7 -8.6 -22.3 -47.2 23

L.132 Funding Corporations (1)

Billions of dollars

 1 Total financial assets 135.4 146.5 184.1 217.4 232.7 251.2 280.3 338.8 335.5 374.3 1

 2 Money market fund shares 3.7 6.3 8.5 12.5 20.6 36.6 52.4 75.9 84.2 111.9 2

 3 Credit market instruments 93.0 93.9 119.8 129.5 134.3 133.1 136.1 148.1 125.8 121.4 3

 4 Open market paper 93.0 93.9 119.8 129.5 134.3 133.1 136.1 148.1 121.8 107.4 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 14.0 5

 6 Miscellaneous assets (2) 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 6

 7 Investment in foreign banking offices 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 7

 8 Investment in brokers and dealers 16.0 19.4 21.7 28.5 28.3 33.8 44.5 63.7 80.8 96.9 8

 9 Total liabilities 135.4 146.5 184.1 217.4 232.7 251.2 280.3 338.8 335.5 374.3 9

10 Credit market instruments 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 10

11 Open market paper 35.6 54.1 72.5 111.6 125.4 139.4 128.4 142.2 140.3 151.1 11

12 Corporate bonds 3.1 4.6 7.2 6.2 4.9 7.7 14.7 26.4 40.0 60.0 12

13 Miscellaneous liabilities 96.7 87.8 104.4 99.6 102.4 104.1 137.1 170.2 155.2 163.3 13

14 Foreign direct investment in U.S. 0.0 -12.4 -23.9 -42.4 -52.4 -65.7 -51.4 -53.8 -54.9 -70.1 14

15 Securities loaned (net) 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 15

16 Other 89.9 88.2 113.2 118.9 115.6 98.3 85.6 70.5 13.0 11.7 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, 1985-1994, Z.1, December 9, 2004

L.200 Gold and Official Foreign Exchange Holdings (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total U.S. reserves 43.2 48.5 45.8 47.8 74.6 83.3 77.7 71.3 73.4 74.3 1

 2 U.S. gold stock and SDRs 18.4 19.5 21.4 20.7 21.0 22.0 22.3 19.6 20.1 21.1 2

 3 Federal govt.: Exchange Stab. Fund 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 3

 4 Monetary authority (2) 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 4

 5 U.S. foreign exchange position 24.8 29.1 24.4 27.1 53.6 61.3 55.4 51.8 53.4 53.2 5

 6 Official foreign currency holdings 12.9 17.3 13.1 17.4 44.6 52.2 45.9 40.0 41.5 41.2 6

 7 Treasury 5.8 7.9 7.4 8.2 12.7 19.6 18.3 18.5 19.2 19.2 7

 8 Monetary authority 7.0 9.5 5.7 9.1 31.9 32.6 27.6 21.5 22.3 22.0 8

 9 Net IMF position 12.0 11.7 11.3 9.7 9.0 9.1 9.5 11.8 11.8 12.0 9

10 Federal government 12.0 11.8 11.4 9.8 9.1 9.1 9.6 11.9 11.9 12.1 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 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 1

 2 Asset: Monetary authority 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 2

 Treasury currency:

 3 Liab: Federal government 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 3

 4 Asset: Monetary authority 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.5 22.1 23.0 4

 5 Discrepancy (seigniorage) -3.8 -3.8 -4.0 -4.1 -4.3 -4.1 -4.7 -4.9 -5.1 -5.4 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 1

 Held by:

 2 Household sector 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 2

 3 Nonfinancial corporate business 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 3

 4 Money market mutual funds 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 4

 5 Discrepancy--unallocated assets 105.8 129.9 165.9 167.1 214.2 243.1 221.1 216.1 231.6 323.7 5
FFA, 1985-1994, Z.1, December 9, 2004 75

L.203 Net Interbank Transactions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 9.0 36.9 72.5 77.1 62.5 94.9 96.4 138.5 189.3 280.1 1

 2 Monetary authority 54.2 73.8 66.6 66.9 64.2 71.2 63.0 63.9 67.6 68.9 2

 3 Depository institution reserves 28.6 48.1 41.8 39.3 35.6 38.7 29.4 32.1 35.0 30.8 3

 4 Vault cash 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 4

 5 Commercial banking -45.1 -36.8 5.8 10.1 -1.7 23.7 33.4 74.5 121.7 211.2 5

 6 To monetary authority 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 6

 7 To banks in foreign countries, net -30.9 -15.2 29.3 35.2 27.7 53.3 36.6 79.9 125.4 218.2 7

 8 Liabilities, net -16.9 -2.2 40.2 45.7 36.3 61.5 47.6 89.2 135.4 229.0 8

 9 U.S.-chartered commercial banks -2.6 -6.2 10.0 12.3 4.3 21.0 15.3 -11.5 7.9 82.3 9

10 Due to foreign affiliates 42.8 37.8 49.8 61.9 52.2 67.1 74.5 84.2 90.8 143.4 10

11 - Due from foreign affiliates 45.5 44.0 39.8 49.6 47.9 46.1 59.2 95.6 82.9 61.1 11

12 Foreign banking offices in U.S. 2.3 19.2 42.0 43.5 40.3 48.4 42.7 105.1 134.3 161.3 12

13 Due to foreign affiliates 43.0 61.6 74.7 75.0 61.8 69.6 75.1 84.6 83.0 84.3 13

14 - Due from foreign affiliates 40.6 42.4 32.7 31.4 21.5 21.3 32.4 -20.5 -51.3 -77.0 14

15 Bank holding companies -16.6 -15.3 -11.8 -10.1 -8.3 -7.9 -10.3 -4.5 -6.8 -14.6 15

16 Due to foreign affiliates 3.5 4.7 5.6 10.3 8.1 8.6 7.9 8.9 6.6 4.1 16

17 - Due from foreign affiliates 20.1 20.0 17.4 20.4 16.4 16.5 18.1 13.4 13.3 18.7 17

18 Less: Deposits at foreign banks 14.0 12.9 10.9 10.5 8.6 8.2 11.0 9.3 10.0 10.8 18

19 U.S. chartered commercial banks 12.6 11.6 9.7 9.6 7.2 6.5 9.4 7.7 8.4 8.0 19

20 Foreign banking offices in U.S. 1.4 1.3 1.2 1.0 1.4 1.7 1.6 1.6 1.6 2.9 20

21 To U.S. banking, net -18.3 -24.5 -28.1 -28.5 -31.0 -32.0 -4.2 -9.3 -4.7 -6.5 21

22 U.S.-chartered commercial banks -45.5 -49.7 -47.2 -44.5 -56.5 -69.0 -47.9 -33.6 -19.9 -13.3 22

23 Liabilities 32.1 33.5 37.0 43.9 49.4 39.3 49.4 38.5 44.8 50.7 23

24 To foreign offices in U.S. 30.2 37.5 46.6 53.6 61.5 66.7 51.2 46.4 48.2 56.3 24

25 To bank holding companies 20.2 20.4 18.5 18.8 18.9 4.6 2.4 1.4 1.3 0.9 25

26 Unallocated -18.3 -24.5 -28.1 -28.5 -31.0 -32.0 -4.2 -9.3 -4.7 -6.5 26

 Less, due from:

27 Foreign offices in U.S. 68.6 74.7 75.8 85.1 101.4 107.1 99.0 77.2 66.7 60.2 27

28 Bank holding companies 9.0 8.5 8.3 3.3 4.6 1.2 -1.7 -5.1 -1.9 3.8 28

29 Foreign banking offices in U.S. 38.4 37.2 29.2 31.5 39.9 40.3 47.8 30.8 18.5 3.9 29

30 Due to U.S. banks 68.6 74.7 75.8 85.1 101.4 107.1 99.0 77.2 66.7 60.2 30

31 - Due from U.S. banks 30.2 37.5 46.6 53.6 61.5 66.7 51.2 46.4 48.2 56.3 31

32 Bank holding companies -11.2 -11.9 -10.2 -15.5 -14.3 -3.4 -4.1 -6.5 -3.3 2.9 32

33 Due to U.S. banks 9.0 8.5 8.3 3.3 4.6 1.2 -1.7 -5.1 -1.9 3.8 33

34 - Due from U.S. banks 20.2 20.4 18.5 18.8 18.9 4.6 2.4 1.4 1.3 0.9 34

35 Total assets 27.4 61.4 100.6 105.6 93.5 127.0 100.6 147.7 194.1 286.6 35

36 Rest of the world -30.9 -15.2 29.3 35.2 27.7 53.3 36.6 79.9 125.4 218.2 36

37 Domestic 58.2 76.6 71.3 70.4 65.8 73.7 64.0 67.9 68.6 68.4 37

38 Monetary authority 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 38

39 Federal Reserve float 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 39

40 Loans to member banks 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 40

41 Commercial banking 50.3 68.1 61.7 61.6 59.7 67.9 60.1 60.9 64.2 66.1 41

42 Reserves at Federal Reserve 24.7 42.5 36.9 34.0 31.1 35.3 26.5 29.0 31.5 28.0 42

43 Vault cash 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 43

44 Savings insts.: Reserves at Fed. Res. 3.9 5.6 4.9 5.3 4.5 3.4 2.9 3.1 3.4 2.8 44

45 Discrepancy--floats, etc. -18.3 -24.5 -28.1 -28.5 -31.0 -32.0 -4.2 -9.3 -4.7 -6.5 45
76 FFA, 1985-1994, Z.1, December 9, 2004

L.204 Checkable Deposits and Currency

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 713.5 837.9 841.9 884.6 891.0 934.6 1020.9 1134.4 1251.7 1242.0 1

 2 Monetary authority 182.4 194.7 211.4 229.5 239.1 264.3 293.5 311.1 348.2 373.5 2

 3 Federal government cash and deposits 9.9 8.0 5.8 9.1 6.7 9.5 18.3 8.0 15.2 7.5 3

 4 Deposits due to foreign 0.5 0.4 0.3 0.4 0.6 0.4 1.0 0.2 0.4 0.3 4

 5 Currency outside banks 171.9 186.3 205.4 220.1 231.8 254.4 274.2 302.8 332.6 365.7 5

 6 Commercial banking 473.7 568.2 548.5 565.6 562.3 584.0 621.6 714.3 788.4 756.7 6

 7 Federal government deposits 25.8 27.5 21.6 29.0 25.6 30.9 36.4 30.6 42.6 23.8 7

 8 Deposits due to foreign 20.7 23.5 22.2 21.6 21.5 21.4 19.4 21.7 21.2 23.2 8

 9 Private domestic deposits 427.3 517.3 504.7 515.1 515.2 531.6 565.7 662.1 724.5 709.8 9

10 Savings institutions 44.8 61.9 67.2 74.0 72.8 68.0 85.3 84.0 88.3 83.0 10

11 Credit unions 12.6 13.0 14.7 15.5 16.8 18.3 20.5 25.1 26.8 28.8 11

12 Total assets 713.5 837.9 841.9 884.6 891.0 934.6 1020.9 1134.4 1251.7 1242.0 12

13 Household sector 312.6 425.1 427.4 424.5 424.1 412.1 461.3 569.8 615.0 584.3 13

14 Nonfinancial business 196.0 200.8 210.8 229.6 239.7 247.9 257.2 259.3 284.1 308.3 14

15 Corporate 125.7 127.2 136.8 150.7 159.8 165.8 172.7 168.4 188.9 200.6 15

16 Nonfarm noncorporate 61.3 63.5 64.2 68.5 69.4 71.2 72.7 77.3 79.5 91.5 16

17 Farm 9.0 10.1 9.9 10.4 10.5 10.9 11.8 13.6 15.7 16.2 17

18 State and local governments 14.8 17.3 16.5 19.5 19.9 18.6 25.1 26.2 28.2 30.0 18

19 Federal government 34.0 32.8 21.4 32.1 26.1 25.4 50.9 31.7 52.2 27.8 19

20 Rest of the world 67.2 74.0 78.1 83.2 89.2 107.7 121.7 136.7 155.4 180.6 20

21 Checkable deposits 21.2 23.9 22.5 21.9 22.1 21.8 20.4 21.9 21.6 23.5 21

22 Currency 46.0 50.1 55.6 61.3 67.1 85.9 101.3 114.8 133.7 157.2 22

23 Financial sectors 49.8 57.0 52.9 60.1 58.4 71.9 60.4 61.8 70.4 69.5 23

24 Commercial banking 4.5 4.4 3.6 3.0 2.6 2.5 1.8 1.3 1.0 1.4 24

25 Savings institutions 12.0 12.5 10.2 12.1 11.3 11.0 12.9 12.4 15.4 13.9 25

26 Credit unions 3.3 4.0 4.0 4.2 4.8 4.8 5.4 6.6 6.5 6.5 26

27 Bank personal trusts and estates 0.9 1.7 1.0 1.0 0.9 1.0 1.0 0.9 0.8 0.5 27

28 Life insurance companies 5.1 5.8 4.9 4.6 5.0 4.9 5.5 4.8 5.2 5.6 28

29 Other insurance companies 4.3 5.6 5.5 5.4 6.0 6.5 5.3 5.6 5.2 5.0 29

30 Private pension funds 3.3 1.9 1.7 4.5 4.1 3.3 3.0 3.0 3.2 4.0 30

31 State and local govt. retirement funds 2.4 3.1 4.8 4.4 3.2 5.0 3.8 6.5 6.6 6.7 31

32 Money market mutual funds 0.2 -0.0 -0.3 0.7 0.1 11.2 -0.2 -2.7 -1.2 -2.5 32

33 Government-sponsored enterprises 2.1 3.7 3.6 3.6 2.3 2.1 1.2 1.2 2.1 1.3 33

34 Finance companies 5.5 5.9 6.5 7.3 8.3 9.4 10.6 11.9 13.3 14.9 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 6.3 8.5 7.4 9.4 9.8 10.2 10.2 10.4 12.3 12.0 36

37 Mail float 39.0 31.0 34.8 35.5 33.6 50.9 44.3 48.8 46.4 41.4 37
FFA, 1985-1994, Z.1, December 9, 2004 77

L.205 Time and Savings Deposits 

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 2340.8 2470.1 2589.8 2782.3 2898.1 2895.9 2839.1 2708.7 2614.8 2594.5 1

 2 Small time and savings deposits 1852.3 1978.0 2047.9 2187.2 2285.1 2349.1 2350.7 2293.4 2223.1 2183.2 2

 3 Commercial banking 907.9 982.1 1010.0 1084.0 1184.7 1307.7 1386.5 1389.2 1377.2 1376.2 3

 4 U.S.-chartered commercial banks 897.2 968.7 996.1 1069.2 1165.7 1287.6 1367.5 1369.5 1358.6 1357.9 4

 5 Foreign banking offices in U.S. 4.9 7.1 7.8 8.3 12.0 11.0 11.0 11.2 10.4 9.3 5

 6 Banks in U.S.-affiliated areas 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 6

 7 Savings institutions 832.7 858.1 888.7 942.8 935.8 862.3 767.7 692.2 624.1 579.7 7

 8 Credit unions 111.7 137.8 149.2 160.5 164.7 179.1 196.5 212.0 221.8 227.3 8

 9 Large time deposits (1) 488.5 492.1 541.9 595.1 613.0 546.9 488.4 415.2 391.7 411.2 9

10 Commercial banking 332.1 333.6 375.0 416.8 445.7 423.6 399.6 332.8 311.7 333.0 10

11 U.S.-chartered commercial banks 295.6 289.0 326.7 361.9 385.8 365.4 292.3 216.1 196.1 214.0 11

12 Foreign banking offices in U.S. 30.7 38.3 42.1 48.4 52.9 49.2 99.3 108.2 107.4 110.0 12

13 Banks in U.S.-affiliated areas 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 13

14 Savings institutions 155.3 156.7 164.9 175.9 161.7 119.9 84.6 76.7 73.0 71.0 14

15 Credit unions 1.2 1.8 2.1 2.5 5.5 3.4 4.2 5.8 6.9 7.3 15

16 Total assets 2340.8 2470.1 2589.8 2782.3 2898.1 2895.9 2839.1 2708.7 2614.8 2594.5 16

17 Household sector 1970.3 2058.4 2177.4 2354.5 2434.0 2465.0 2394.1 2291.9 2183.3 2153.7 17

18 Nonfinancial business 109.9 127.8 126.3 129.2 129.0 125.6 130.8 136.2 155.6 163.5 18

19 Corporate 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 19

20 Nonfarm noncorporate 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 20

21 State and local governments 65.9 68.2 75.3 73.4 70.6 67.5 56.5 50.3 48.8 55.3 21

22 Federal government 1.2 1.4 1.7 1.4 1.3 1.4 1.6 0.9 0.8 0.7 22

23 Rest of the world 43.4 40.9 41.8 45.2 49.9 49.2 49.0 47.9 54.7 56.3 23

24 Financial sectors 150.1 173.4 167.3 178.6 213.3 187.2 207.2 181.5 171.6 165.0 24

25 Savings institutions 11.9 15.9 7.3 7.4 5.3 5.2 5.0 3.7 3.0 1.3 25

26 Credit unions 20.0 27.0 27.4 24.0 21.2 21.7 26.7 27.0 25.6 16.7 26

27 Bank personal trusts and estates 11.0 13.5 16.6 19.2 20.0 20.3 15.7 10.5 9.4 11.0 27

28 Private pension funds 76.6 87.0 76.2 87.1 114.6 110.4 115.9 98.8 95.4 102.1 28

29 State and local govt. retirement funds 13.3 9.9 5.2 7.1 9.1 7.7 8.8 6.9 6.2 2.5 29

30 Money market mutual funds 17.3 20.1 34.5 33.8 43.0 21.9 35.1 34.6 31.9 31.4 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 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 1

 2 Household sector 193.3 228.8 250.0 265.3 341.7 368.6 383.1 342.2 341.8 352.5 2

 3 Nonfinancial corporate business 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 3

 4 Nonfarm noncorporate business 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 5

 6 Bank personal trusts and estates 12.8 16.4 16.6 19.8 22.3 26.0 29.6 29.2 29.3 29.9 6

 7 Life insurance companies 9.1 10.0 6.9 7.0 6.2 18.1 19.6 25.0 31.5 16.2 7

 8 Private pension funds 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 8

 9 Funding corporations 3.7 6.3 8.5 12.5 20.6 36.6 52.4 75.9 84.2 111.9 9
78 FFA, 1985-1994, Z.1, December 9, 2004

L.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 250.6 298.7 292.7 318.7 396.5 372.3 355.9 400.0 471.3 549.5 1

 2 Commercial banking (net) 186.4 205.6 215.8 236.6 274.5 248.8 229.6 272.2 313.7 391.8 2

 3 U.S.-chartered commercial banks 178.8 189.6 201.4 217.7 253.3 219.6 192.6 234.3 279.8 351.4 3

 4 Foreign banking offices in U.S. 7.6 16.1 14.4 18.9 21.2 29.6 38.4 39.0 34.7 41.4 4

 5 Bank holding companies 0.0 0.0 0.0 0.0 -0.0 -0.4 -1.4 -1.2 -0.8 -0.9 5

 6 Savings institutions 40.4 57.5 85.7 103.9 57.8 42.5 19.6 18.6 26.1 44.5 6

 7 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 5.0 9.7 7

 8 Brokers and dealers (net) 23.7 35.6 -8.8 -21.9 64.2 81.0 106.7 106.4 126.4 103.4 8

 9 Total assets 222.5 258.6 262.9 285.1 353.9 387.9 404.8 445.0 463.0 467.8 9

10 Nonfinancial corporate business 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 10

11 State and local governments 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 11

12 Rest of the world 7.5 10.9 13.1 13.0 23.1 19.7 20.9 41.7 58.6 46.6 12

13 Financial sectors 137.5 163.7 155.5 177.2 221.9 254.3 263.9 275.1 268.1 300.4 13

14 Monetary authority 5.2 16.0 1.3 6.9 2.1 18.4 15.9 8.1 13.2 10.6 14

15 Savings institutions 22.1 19.9 19.0 20.2 24.2 21.6 15.1 14.4 10.6 6.5 15

16 Credit unions 8.4 10.9 9.2 9.4 12.5 14.6 13.2 13.5 8.5 6.2 16

17 Other insurance companies 23.6 23.7 24.6 27.9 27.8 31.0 26.9 32.6 31.7 29.4 17

18 Private pension funds 19.2 20.9 20.4 22.7 24.8 23.5 27.2 27.4 28.3 22.2 18

19 State and local govt. retirement funds 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 19

20 Money market mutual funds 25.9 31.9 38.9 41.2 54.3 58.2 67.0 65.9 66.4 68.8 20

21 Mutual funds 1.3 2.8 3.6 4.9 4.8 6.1 12.2 21.9 38.7 43.1 21

22 Government-sponsored enterprises 26.9 29.4 27.2 33.8 61.8 68.7 67.6 66.6 50.3 85.8 22

23 Discrepancy--unallocated assets 28.1 40.2 29.8 33.6 42.6 -15.6 -49.0 -44.9 8.3 81.7 23

L.208 Open Market Paper

Billions of dollars

 1 Total outstanding, all types 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 1

 2 Commercial paper 293.9 326.1 373.6 451.8 521.9 557.8 528.1 545.1 553.8 600.1 2

 3 Nonfinancial corporate business 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 3

 4 Foreign issues in U.S. 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 4

 5 Nonfinancial 8.0 10.1 12.5 12.0 16.3 20.6 26.1 30.6 27.5 15.2 5

 6 Financial 26.0 27.3 28.7 38.0 46.7 54.8 56.0 47.8 41.3 27.5 6

 7 Financial business 187.8 225.9 258.6 316.1 351.7 365.6 347.5 359.6 367.1 418.2 7

 8 Commercial banking 46.4 43.1 44.6 44.4 48.8 30.1 24.3 20.4 25.6 31.6 8

 9 ABS issuers 2.4 3.3 5.1 6.8 15.7 31.4 38.7 46.9 51.6 63.9 9

10 Finance companies 102.7 124.3 135.0 152.1 160.7 163.8 155.2 149.2 149.1 171.6 10

11 REITs 0.7 1.1 1.4 1.3 1.1 0.9 0.9 0.9 0.6 0.0 11

12 Funding corporations 35.6 54.1 72.5 111.6 125.4 139.4 128.4 142.2 140.3 151.1 12

13 Bankers acceptances (1) 64.6 58.8 64.3 61.6 57.4 52.1 37.8 33.9 26.3 23.4 13

14 Holdings, by sector 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 14

15 Household sector 35.0 30.6 32.9 67.3 56.9 63.2 33.3 29.9 45.5 46.7 15

16 Nonfinancial corporate business 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 16

17 State and local governments 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 17

18 Rest of the world 8.2 8.0 9.0 11.8 12.7 10.7 11.3 12.9 18.8 24.9 18

19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Commercial banking (1) 9.7 8.6 11.2 10.1 9.9 12.7 10.6 9.2 7.3 5.8 20

21 Savings institutions 3.5 5.3 4.3 5.1 4.7 0.7 1.3 0.6 0.3 0.1 21

22 Credit unions 0.2 0.7 0.5 0.9 1.1 2.3 2.6 3.0 2.2 2.1 22

23 Bank personal trusts and estates 21.5 25.6 22.4 26.3 30.9 30.5 25.2 22.8 19.5 23.0 23

24 Life insurance companies 29.1 34.5 34.0 39.2 42.8 45.7 45.8 43.2 46.9 52.8 24

25 Private pension funds 22.0 26.3 33.5 27.4 26.8 26.3 29.6 29.4 30.1 23.9 25

26 State and local govt. retirement funds 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 26

27 Money market mutual funds 98.4 104.4 110.1 127.5 184.5 204.0 190.6 173.6 164.4 187.2 27

28 Mutual funds 7.9 15.8 19.5 28.6 28.0 28.5 12.2 21.9 38.7 43.1 28

29 Government-sponsored enterprises 0.1 0.1 0.0 0.4 3.3 3.8 10.9 13.5 11.9 26.3 29

30 Brokers and dealers 14.5 12.6 14.2 14.8 17.8 18.4 14.0 15.2 14.9 11.2 30

31 Funding corporations 93.0 93.9 119.8 129.5 134.3 133.1 136.1 148.1 121.8 107.4 31

(1) Excludes banks’ holdings of own acceptances.
FFA, 1985-1994, Z.1, December 9, 2004 79

L.209 Treasury Securities

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 1

 2 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 2

 3 Other Treasury issues 1506.8 1708.9 1843.5 1972.7 2109.3 2339.6 2619.7 2904.3 3138.0 3285.6 3

 4 Total assets 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 4

 5 Household sector 262.5 250.5 281.1 366.1 364.7 471.2 502.7 598.3 645.6 845.6 5

 6 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 6

 7 Other Treasury issues 182.7 157.2 180.0 256.5 246.9 345.0 364.6 441.0 473.7 665.6 7

 8 Nonfinancial corporate business 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 8

 9 Nonfarm noncorporate business 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 9

10 State and local governments 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 10

11 Rest of the world 226.4 269.4 296.3 353.8 423.7 438.4 476.3 520.3 594.6 632.6 11

12 Monetary authority 177.8 197.6 222.6 233.7 226.8 235.1 266.5 295.0 332.0 364.5 12

13 Commercial banking 189.4 197.7 194.4 185.3 165.3 172.1 232.5 294.4 322.2 290.4 13

14 U.S.-chartered commercial banks 182.6 188.5 185.4 176.0 155.7 157.4 207.8 254.3 275.0 248.0 14

15 Foreign banking offices in U.S. 4.8 6.9 6.5 6.6 6.4 11.4 20.8 29.6 36.1 32.7 15

16 Bank holding companies 0.8 0.6 0.7 0.8 0.9 0.7 1.0 6.1 5.3 4.6 16

17 Banks in U.S.-affiliated areas 1.2 1.7 1.7 1.9 2.2 2.5 2.8 4.3 5.8 5.1 17

18 Savings institutions 34.5 38.0 47.5 34.9 26.8 25.9 25.0 34.0 28.2 27.1 18

19 Credit unions 6.2 8.0 11.2 14.4 12.1 8.5 14.1 19.9 22.6 22.1 19

20 Bank personal trusts and estates 23.3 23.9 27.2 31.6 34.4 37.4 36.9 34.0 32.5 30.0 20

21 Life insurance companies 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 21

22 Other insurance companies 28.8 42.6 51.0 60.0 71.0 79.0 104.0 108.7 124.5 133.0 22

23 Private pension funds 128.6 112.8 113.0 112.7 122.4 122.4 117.1 108.7 104.3 121.1 23

24 State and local govt. retirement funds 85.4 115.3 138.9 150.7 152.4 168.2 165.5 203.5 217.5 215.6 24

25 Federal government retirement funds 0.0 0.0 1.1 2.7 4.9 7.3 9.8 12.6 15.3 18.8 25

26 Money market mutual funds 24.4 27.8 14.1 11.4 14.6 44.9 78.3 78.4 79.4 66.1 26

27 Mutual funds 38.8 71.2 84.1 80.3 81.4 87.1 103.9 110.4 134.0 130.5 27

28 Closed-end funds 0.6 1.0 1.6 4.8 6.6 6.8 10.0 11.6 13.7 12.8 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 6.8 16.3 21.0 26.3 13.0 34.3 40.8 58.7 51.6 51.9 30

31 Brokers and dealers -4.0 4.1 -16.7 -47.4 21.5 7.3 5.7 -7.7 -28.3 -42.7 31

 Memo:

32 Federal government debt (1) 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 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, 1985-1994, Z.1, December 9, 2004

L.210 Agency- and GSE-backed Securities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 1

 2 Budget agencies 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 2

 3 Government-sponsored enterprises 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 3

 4 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 4

 5 Total assets 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 5

 6 Household sector 6.9 7.0 11.9 28.4 49.3 68.9 38.7 -7.8 -66.1 51.0 6

 7 Nonfinancial corporate business 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 7

 8 State and local governments 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 14.9 22.1 26.8 33.3 45.5 50.0 58.8 74.6 107.9 125.1 10

11 Monetary authority 8.2 7.8 7.6 7.0 6.5 6.3 6.0 5.4 4.6 3.6 11

12 Commercial banking 77.5 115.1 144.5 175.3 230.5 284.8 335.7 378.5 423.2 428.7 12

13 U.S.-chartered commercial banks 74.2 110.7 138.6 167.9 222.1 274.9 321.2 360.1 396.3 398.1 13

14 Foreign banking offices in U.S. 1.1 2.6 3.8 4.9 5.2 7.2 11.2 14.1 21.5 23.0 14

15 Bank holding companies 2.1 1.7 2.1 2.1 2.4 1.9 2.4 2.2 3.1 4.8 15

16 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.4 0.8 0.9 1.0 2.1 2.3 2.8 16

17 Savings institutions 146.8 193.1 236.7 257.2 208.9 185.7 145.0 143.0 147.3 159.9 17

18 Credit unions 7.0 8.8 8.8 7.1 6.3 14.4 19.6 28.7 36.3 40.9 18

19 Bank personal trusts and estates 19.2 20.0 22.4 25.8 28.0 33.3 36.7 37.9 40.6 42.0 19

20 Life insurance companies 49.4 60.0 67.0 75.7 100.8 121.0 164.2 193.0 222.8 234.1 20

21 Other insurance companies 22.2 22.3 22.3 22.6 26.0 32.0 42.1 42.6 44.5 45.8 21

22 Private pension funds 67.1 59.2 72.3 86.7 110.5 133.1 146.0 156.5 170.6 211.5 22

23 State and local govt. retirement funds 38.1 38.1 43.0 35.3 51.2 62.9 58.0 39.8 35.8 39.9 23

24 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 0.5 0.7 24

25 Money market mutual funds 18.0 15.0 26.7 18.2 20.8 36.4 40.6 54.3 67.8 77.2 25

26 Mutual funds 26.1 63.4 66.2 62.8 64.5 72.6 96.7 147.0 172.6 165.8 26

27 Government-sponsored enterprises 0.8 0.2 0.1 0.3 6.3 11.9 34.8 47.5 66.0 130.8 27

28 ABS issuers 10.1 52.8 81.1 106.2 98.3 117.8 116.5 140.9 162.6 182.7 28

29 REITs 2.8 7.7 14.2 16.7 17.6 16.5 16.6 15.9 15.6 9.2 29

30 Brokers and dealers 4.9 9.8 14.6 19.5 24.4 44.0 54.0 53.0 60.8 45.0 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, 1985-1994, Z.1, December 9, 2004 81

L.211 Municipal Securities and Loans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 859.5 920.4 1010.4 1082.3 1135.2 1184.4 1272.2 1295.5 1361.8 1325.9 1

 2 State and local governments 651.1 724.9 816.1 886.0 936.4 982.7 1067.6 1084.7 1143.0 1096.6 2

 3 Short-term (1) 20.5 20.4 18.0 20.0 23.3 26.2 33.1 32.0 33.8 31.7 3

 4 Long-term 630.6 704.5 798.1 866.0 913.1 956.4 1034.5 1052.6 1109.2 1065.0 4

 5 Nonprofit organizations (2) 81.3 78.4 78.1 79.9 83.3 86.6 90.6 92.6 94.0 97.6 5

 6 Nonfinancial corporate business 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 6

 (industrial revenue bonds)

 7 Total assets 859.5 920.4 1010.4 1082.3 1135.2 1184.4 1272.2 1295.5 1361.8 1325.9 7

 8 Household sector 348.0 355.4 453.5 524.2 547.7 575.0 614.4 578.9 534.8 483.1 8

 9 Nonfinancial corporate business 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 9

10 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 10

11 State and local governments 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 11

12 Commercial banking 231.7 203.4 174.3 151.6 133.8 117.4 103.2 97.5 99.2 97.6 12

13 Savings institutions 3.4 3.1 3.1 2.8 2.6 3.0 2.4 2.1 2.1 2.0 13

14 Bank personal trusts and estates 48.2 56.9 63.1 65.9 73.0 80.8 89.9 96.0 108.9 114.2 14

15 Life insurance companies 9.7 11.7 10.7 9.1 9.0 12.3 10.2 11.4 14.7 12.8 15

16 Other insurance companies 88.2 101.9 124.8 134.1 134.8 136.9 126.8 134.3 146.1 153.8 16

17 State and local govt. retirement funds 1.1 0.7 0.8 0.5 0.3 0.5 0.6 0.4 1.4 1.1 17

18 Money market mutual funds 36.4 64.1 61.8 66.1 70.1 84.0 90.6 96.0 105.6 113.4 18

19 Mutual funds 34.9 67.0 74.8 82.9 98.6 112.6 139.7 168.4 211.3 207.0 19

20 Closed-end funds 1.0 2.0 3.3 7.5 12.1 14.1 25.4 39.7 51.8 53.4 20

21 Government-sponsored enterprises 1.6 2.3 2.4 2.9 2.9 3.7 3.0 3.2 3.1 5.2 21

22 Brokers and dealers 19.9 16.6 8.3 7.5 7.1 7.9 9.4 11.3 17.1 15.5 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 883.1 1105.6 1270.4 1432.5 1580.6 1720.2 1912.5 2130.4 2411.4 2568.0 1

 2 Nonfinancial corporate business 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1229.7 1253.0 2

 3 Rest of the world (1) 71.8 74.9 82.3 89.2 94.0 115.4 130.4 147.2 230.1 245.0 3

 4 Financial sectors 233.1 325.4 404.0 456.1 525.5 596.6 695.2 828.8 951.7 1070.1 4

 5 Commercial banking 74.4 90.5 104.0 109.1 113.7 108.9 113.2 127.6 134.9 142.6 5

 6 Savings institutions 10.5 15.4 19.8 21.7 18.3 12.7 8.6 5.5 3.9 3.1 6

 7 ABS issuers 34.8 71.4 113.2 147.6 194.1 254.4 327.5 426.2 506.7 567.5 7

 8 Finance companies 105.3 131.6 141.2 147.0 162.7 179.5 194.3 203.1 215.6 247.4 8

 9 REITs 3.7 8.5 15.3 17.1 18.0 18.1 17.9 18.2 16.8 15.3 9

10 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 10

11 Funding corporations 3.1 4.6 7.2 6.2 4.9 7.7 14.7 26.4 40.0 60.0 11

12 Total assets 883.1 1105.6 1270.4 1432.5 1580.6 1720.2 1912.5 2130.4 2411.4 2568.0 12

13 Household sector 77.4 107.2 123.9 116.6 162.9 233.5 299.0 335.9 358.3 396.1 13

14 State and local governments 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 14

15 Rest of the world (2) 126.4 166.6 185.4 199.3 211.9 217.2 233.4 251.5 273.3 311.4 15

16 Commercial banking 31.1 53.3 78.1 89.0 84.1 88.7 96.3 94.7 98.2 102.5 16

17 Savings institutions 56.8 64.1 88.2 105.3 91.0 75.6 72.7 80.0 89.1 86.7 17

18 Bank personal trusts and estates 15.7 20.5 25.1 24.5 27.1 27.3 30.7 36.8 35.8 35.3 18

19 Life insurance companies 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 19

20 Other insurance companies 33.9 48.0 55.5 65.7 79.3 89.2 97.2 97.8 103.1 110.1 20

21 Private pension funds 97.2 124.0 120.1 125.6 137.8 157.5 178.7 206.5 233.7 227.1 21

22 State and local govt. retirement funds 107.4 119.1 119.5 138.2 152.6 142.1 144.7 156.9 179.0 179.1 22

23 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.3 0.4 0.4 23

24 Money market mutual funds 1.0 1.8 2.2 2.3 3.7 2.0 3.8 6.3 11.7 15.2 24

25 Mutual funds 22.2 42.4 46.6 49.8 54.6 59.3 87.7 118.7 169.3 172.4 25

26 Closed-end funds 2.5 3.9 6.1 16.5 16.7 15.7 14.1 18.3 24.2 19.8 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 11.1 20.0 28

29 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.2 2.1 29

30 Brokers and dealers 22.9 23.2 19.4 29.1 32.9 28.9 40.9 50.9 73.0 64.4 30

31 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 14.0 31

(1) Holdings of foreign issues by U.S. residents.

(2) Holdings of U.S. issues by foreign residents.
82 FFA, 1985-1994, Z.1, December 9, 2004

L.213 Corporate Equities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Issues at market value 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 1

 2 Nonfinancial corporate business 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 2

 3 Rest of the world (2) 44.4 72.4 94.7 128.7 197.3 197.6 279.0 314.3 543.9 626.8 3

 4 Financial corporations 309.1 369.0 328.9 388.9 477.0 377.9 570.3 746.5 910.7 893.9 4

 5 Holdings at market value 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 5

 6 Household sector 1058.1 1330.3 1306.2 1585.0 1939.8 1770.1 2517.3 2857.1 3223.5 3081.6 6

 7 State and local governments 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 7

 8 Rest of the world (3) 136.8 183.2 189.0 213.8 276.1 243.8 299.0 329.0 373.5 397.7 8

 9 Commercial banking 0.1 0.1 0.0 0.0 4.7 2.2 3.8 3.4 4.3 2.9 9

10 Savings institutions 5.2 7.0 7.0 8.5 11.0 8.8 10.3 11.2 12.5 10.4 10

11 Bank personal trusts and estates 171.4 163.8 156.4 171.7 207.3 190.1 234.2 216.9 181.0 167.3 11

12 Life insurance companies 74.0 76.4 80.5 81.4 91.8 81.9 135.8 151.6 205.8 231.4 12

13 Other insurance companies 57.0 61.2 65.1 71.4 84.0 79.9 94.1 97.3 103.4 112.1 13

14 Private pension funds 515.8 523.5 532.6 515.2 635.5 605.9 806.2 873.7 1014.3 1013.7 14

15 State and local govt. retirement funds 120.1 150.2 170.1 212.6 277.8 284.6 395.0 431.7 506.2 521.7 15

16 Federal government retirement funds 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 16

17 Mutual funds 113.7 161.2 181.7 187.6 250.5 233.2 308.9 401.3 607.4 709.6 17

18 Closed-end funds 4.2 7.5 10.4 14.3 17.1 16.2 21.8 23.8 26.5 31.9 18

19 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 19

20 Brokers and dealers 14.1 17.7 10.7 12.2 14.1 9.6 14.3 14.8 24.2 20.1 20

 Memo:

21 Market value of domestic corporations (4) 2150.8 2523.4 2529.5 2849.0 3495.7 3225.9 4434.9 4968.4 5594.1 5523.3 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 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 1

 2 Holdings at market value 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 2

 3 Household sector 197.9 333.2 381.7 400.1 462.9 456.6 570.3 706.7 969.2 981.9 3

 4 Nonfinancial corporate business 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 4

 5 State and local governments 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 5

 6 Commercial banking 0.0 0.0 0.0 0.0 2.2 1.9 3.7 3.4 3.9 2.0 6

 7 Credit unions 0.0 0.0 1.8 1.4 1.2 1.4 2.6 4.1 4.2 2.6 7

 8 Bank personal trusts and estates 22.7 51.1 52.0 46.5 57.9 62.7 93.6 128.1 183.5 200.4 8

 9 Life insurance companies 3.5 14.5 12.1 18.5 19.1 30.7 8.6 18.2 21.3 24.4 9

10 Private pension funds 11.1 12.1 19.9 23.4 33.0 40.5 66.4 96.2 142.2 205.9 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, 1985-1994, Z.1, December 9, 2004 83

L.215 Bank Loans Not Elsewhere Classified

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Total loans by commercial

 1 banking, flow of funds basis 1445.3 1603.3 1706.3 1854.7 2016.6 2100.2 2097.0 2139.8 2223.5 2407.1 1

 - Loans elsewhere classified:

 2 Open market paper 9.7 8.6 11.2 10.1 9.9 12.7 10.6 9.2 7.3 5.8 2

 3 Mortgages 431.2 504.7 594.8 676.9 770.7 849.3 881.3 900.5 947.8 1012.7 3

 4 Consumer credit 297.2 320.2 334.1 360.8 383.3 382.0 370.2 362.9 395.7 458.8 4

 5 Security credit 45.4 39.6 34.4 33.9 38.2 36.2 46.8 88.0 100.7 94.9 5

 6 = Banking sector total bank loans n.e.c. 661.7 730.2 731.8 773.0 814.5 820.0 788.2 779.2 772.0 834.9 6

 7 U.S.-chartered commercial banks 574.6 619.6 603.4 623.9 649.7 645.2 589.0 569.6 578.4 624.6 7

 8 Foreign banking offices in U.S. 75.8 97.7 115.1 135.6 149.6 156.5 185.8 195.7 182.0 197.2 8

 9 Bank holding companies 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 9

10 Banks in U.S.-affiliated areas 9.1 9.3 9.1 9.6 9.7 13.0 10.0 10.2 9.7 11.3 10

11 + Loans from Federal Reserve banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 = Total bank loans n.e.c. 661.7 730.2 731.8 773.0 814.5 820.0 788.2 779.2 772.0 834.9 12

13 Total liabilities 661.7 730.2 731.8 773.0 814.5 820.0 788.2 779.2 772.0 834.9 13

14 Nonfinancial sectors 617.1 673.3 683.1 721.6 749.7 751.1 711.9 702.3 709.4 786.0 14

15 Households 31.0 31.0 31.9 30.0 20.4 17.9 13.1 17.6 27.4 40.0 15

16 Corporate business 424.1 481.1 485.1 517.9 542.8 545.5 507.7 488.4 480.5 527.2 16

17 Nonfarm noncorporate business 98.5 103.1 113.8 122.4 134.3 136.4 135.0 137.7 140.2 153.9 17

18 Farm business 35.5 31.2 29.1 29.8 30.8 32.9 34.6 34.7 36.8 38.7 18

19 Rest of the world 27.9 26.9 23.3 21.5 21.4 18.5 21.6 23.9 24.6 26.1 19

20 Foreign official institutions 6.2 6.2 5.3 4.8 3.4 2.8 2.4 3.3 2.4 2.2 20

21 Foreign banks 9.7 10.7 7.8 7.8 8.6 5.9 6.9 7.6 8.8 8.8 21

22 Other foreign 12.1 10.0 10.2 8.9 9.4 9.8 12.3 13.0 13.5 15.2 22

23 Financial sectors 44.6 56.9 48.6 51.4 64.9 68.9 76.2 77.0 62.6 48.9 23

24 Savings institutions 10.9 10.2 9.7 9.9 9.2 9.7 8.9 8.9 8.4 9.3 24

25 Finance companies 16.4 20.0 22.9 23.9 27.0 30.3 40.1 34.1 20.4 14.8 25

26 Mortgage companies 16.7 25.7 14.5 14.5 24.6 24.6 22.2 30.2 30.2 18.7 26

27 REITs 0.7 1.0 1.5 3.1 4.1 4.4 5.0 3.7 3.6 6.0 27
84 FFA, 1985-1994, Z.1, December 9, 2004

L.216 Other Loans and Advances

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total other loans and advances 663.0 728.0 784.0 835.5 865.0 891.2 780.0 784.6 775.7 834.9 1

 2 U.S. government loans 196.8 202.3 192.1 168.3 161.1 159.2 151.7 151.7 143.2 135.9 2

 3 Liab.: Household sector 16.5 19.4 18.7 20.1 15.6 18.6 20.8 21.6 14.8 16.3 3

 4 Nonfinancial corporate business 14.2 14.8 11.5 9.9 9.6 8.8 7.9 7.9 8.1 8.0 4

 5 Nonfarm noncorporate business 41.0 41.7 41.1 41.7 41.6 40.3 40.4 40.1 40.7 38.2 5

 6 Farm business 18.2 18.0 17.7 13.3 13.6 13.8 9.8 9.5 8.7 8.2 6

 7 State and local governments 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.3 7

 8 Rest of the world 74.0 75.5 73.3 69.3 67.0 63.2 57.8 58.0 56.9 55.9 8

 9 Government-sponsored enterprises 6.1 5.7 5.0 5.0 5.0 4.9 4.8 4.8 4.8 0.0 9

10 Foreign loans to U.S. corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 10

11 Liab.: Nonfinancial corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 11

 Customers’ liability on acceptances

12 outstanding (bank asset) 60.0 54.4 59.8 57.5 55.4 45.5 35.3 31.7 25.3 22.9 12

13 Liab.: Nonfinancial corporate business 28.3 28.1 32.6 32.6 35.8 29.2 23.3 20.4 17.1 15.0 13

14 Rest of the world 31.6 26.3 27.3 24.9 19.6 16.3 12.0 11.3 8.2 7.9 14

15 Savings institution loans to business 29.3 39.8 40.9 49.2 47.0 34.3 19.3 12.4 10.8 10.3 15

16 Liab.: Nonfinancial corporate business 14.7 19.9 20.4 24.6 23.5 17.2 9.7 6.2 5.4 5.1 16

17 Nonfarm noncorporate business 14.7 19.9 20.4 24.6 23.5 17.2 9.7 6.2 5.4 5.1 17

18 Policy loans (Household liability) 55.5 55.4 55.3 55.3 58.4 62.5 67.3 73.0 78.6 86.4 18

19 Asset: Federal government 1.1 1.3 1.7 1.0 1.0 1.0 1.0 0.9 0.9 0.9 19

20 Life insurance companies 54.4 54.1 53.6 54.2 57.4 61.6 66.4 72.1 77.7 85.5 20

21 Government-sponsored enterprise loans 115.2 132.8 157.8 176.6 168.0 144.8 110.7 111.3 135.2 158.8 21

22 Liab.: Household sector (SLMA) 0.2 0.3 0.3 0.3 0.3 0.5 0.9 0.7 0.8 0.9 22

23 Noncorporate business (FCS) 8.1 7.4 8.2 9.9 9.9 10.1 11.5 12.6 13.9 13.9 23

24 Farm business (FCS) 13.9 11.6 9.9 7.6 9.5 9.8 11.2 11.4 11.6 12.4 24

25 Commercial banks (FHLB and SLMA) 3.0 3.5 4.5 4.3 4.7 6.7 9.3 12.5 21.2 30.5 25

26 Savings institutions (FHLB and SLMA) 90.0 110.0 134.8 154.5 143.6 117.7 77.8 74.0 87.3 100.0 26

27 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 27

28 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 28

29 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 29

30 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 30

31 Finance company loans to business 150.2 165.8 200.1 228.7 250.8 268.1 263.8 264.9 249.0 274.9 31

32 Liab.: Nonfinancial corporate business 135.2 149.2 180.0 205.8 225.7 241.3 237.4 238.4 224.1 247.4 32

33 Nonfarm noncorporate business 15.0 16.6 20.0 22.9 25.1 26.8 26.4 26.5 24.9 27.5 33
FFA, 1985-1994, Z.1, December 9, 2004 85

L.217 Total Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total mortgages 2377.1 2663.8 2965.0 3282.1 3552.5 3806.9 3958.6 4070.8 4206.8 4377.6 1

 2 Home 1523.6 1726.5 1924.2 2157.7 2383.0 2619.0 2787.4 2955.6 3117.5 3297.7 2

 3 Multifamily residential 205.9 239.4 259.2 275.3 288.1 288.3 284.9 272.0 269.1 269.6 3

 4 Commercial 541.7 602.7 693.9 766.1 801.0 820.7 807.1 763.5 739.7 727.2 4

 5 Farm 105.9 95.2 87.7 83.0 80.5 78.9 79.2 79.7 80.5 83.2 5

 6 Total liabilities 2377.1 2663.8 2965.0 3282.1 3552.5 3806.9 3958.6 4070.8 4206.8 4377.6 6

 7 Household sector 1482.4 1684.9 1869.4 2108.9 2346.4 2586.7 2778.9 2958.4 3125.8 3288.1 7

 8 Nonfinancial business 892.1 976.0 1092.5 1169.8 1202.4 1215.9 1174.8 1107.1 1072.0 1070.8 8

 9 Corporate 165.6 183.4 252.1 254.2 255.8 274.4 260.0 222.0 208.6 210.4 9

10 Nonfarm noncorporate 620.7 697.4 752.7 832.7 866.1 862.6 835.6 805.3 782.9 777.3 10

11 Farm 105.9 95.2 87.7 83.0 80.5 78.9 79.2 79.7 80.5 83.2 11

12 Federal government 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 REITs 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 13

14 Total assets 2377.1 2663.8 2965.0 3282.1 3552.5 3806.9 3958.6 4070.8 4206.8 4377.6 14

15 Household sector 119.7 115.5 124.2 125.9 134.5 143.5 145.7 139.9 132.5 123.7 15

16 Nonfinancial corporate business 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 16

17 Nonfarm noncorporate business 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 17

18 State and local governments 74.2 86.0 94.7 98.6 105.0 110.2 113.7 113.7 108.3 110.5 18

19 Federal government 53.3 54.4 49.1 48.0 47.3 82.9 98.3 86.4 85.0 71.0 19

20 Commercial banking 431.2 504.7 594.8 676.9 770.7 849.3 881.3 900.5 947.8 1012.7 20

21 Savings institutions (1) 765.7 784.8 824.3 888.0 872.5 801.6 705.4 628.0 598.4 596.2 21

22 Credit unions 11.1 19.3 29.9 38.1 44.8 49.7 52.8 53.8 56.0 62.1 22

23 Bank personal trusts and estates 5.0 4.5 3.7 3.7 4.1 4.2 4.0 3.9 3.6 3.4 23

24 Life insurance companies 171.8 193.8 212.4 232.9 254.2 267.9 259.5 242.0 223.9 215.8 24

25 Other insurance companies 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 25

26 Private pension funds 14.0 11.3 8.2 16.7 23.3 24.9 18.2 14.5 13.0 7.8 26

27 State and local govt. retirement funds 15.3 15.6 15.3 15.6 15.3 16.1 16.9 16.5 14.5 15.2 27

28 Government-sponsored enterprises (1) 159.7 147.8 139.5 144.5 150.5 156.1 167.7 199.7 241.0 244.6 28

29 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 29

30 ABS issuers 24.7 18.7 32.1 41.4 53.5 68.1 116.5 174.5 215.6 241.6 30

31 Finance companies 28.6 34.2 42.2 47.3 53.8 65.0 63.3 65.8 62.7 66.9 31

32 Mortgage companies 24.7 36.6 23.9 29.0 49.2 49.2 60.3 60.5 60.4 36.5 32

33 REITs 5.9 5.9 7.0 8.7 8.4 7.7 7.0 8.1 8.6 13.3 33

(1) FHLB loans to savings institutions are included in other loans and advances.
86 FFA, 1985-1994, Z.1, December 9, 2004

L.218 Home Mortgages (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1523.6 1726.5 1924.2 2157.7 2383.0 2619.0 2787.4 2955.6 3117.5 3297.7 1

 2 Household sector 1449.3 1646.6 1825.0 2049.9 2273.6 2504.1 2683.5 2857.5 3017.3 3186.6 2

 3 Nonfinancial corporate business 6.9 7.1 8.3 9.6 9.4 10.0 7.4 5.7 5.7 7.0 3

 4 Nonfarm noncorporate business 67.4 72.7 90.9 98.3 99.9 104.9 96.6 92.3 94.5 104.1 4

 5 Total assets 1523.6 1726.5 1924.2 2157.7 2383.0 2619.0 2787.4 2955.6 3117.5 3297.7 5

 6 Household sector 91.6 91.9 103.3 108.4 117.4 128.6 130.1 122.7 113.7 104.7 6

 7 Nonfinancial corporate business 9.5 13.0 19.8 18.8 27.8 33.4 36.4 36.1 30.9 32.7 7

 8 Nonfarm noncorporate business 13.9 14.1 11.8 17.6 12.1 9.5 8.9 9.4 8.2 8.9 8

 9 State and local governments 45.0 49.0 50.1 52.6 57.3 60.9 62.9 62.3 56.3 57.3 9

10 Federal government 24.4 24.1 20.8 21.0 21.3 37.9 37.1 36.6 33.0 29.1 10

11 Commercial banking 211.2 232.0 268.9 323.0 373.4 430.3 452.4 478.8 532.2 590.0 11

12 Savings institutions 561.7 568.3 573.2 641.6 631.0 600.2 538.4 489.6 470.0 477.6 12

13 Credit unions 11.1 19.3 29.9 38.1 44.8 49.7 52.8 53.8 56.0 62.1 13

14 Bank personal trusts and estates 5.0 4.5 3.7 3.7 4.1 4.2 4.0 3.9 3.6 3.4 14

15 Life insurance companies 12.4 12.8 13.2 11.2 12.2 13.0 10.6 11.2 8.9 8.5 15

16 Private pension funds 4.5 4.0 1.4 2.8 5.5 5.5 4.0 3.2 3.2 3.7 16

17 State and local govt. retirement funds 3.7 3.2 3.5 3.4 3.4 3.5 3.7 3.4 3.5 3.9 17

18 Government-sponsored enterprises 106.6 101.4 98.9 104.7 110.0 115.3 126.4 156.9 196.7 199.3 18

19 Agency- and GSE-backed mortgage pools 360.5 519.5 652.9 723.6 843.8 991.1 1130.4 1248.2 1334.3 1449.6 19

20 ABS issuers 24.0 16.6 27.8 34.9 43.3 55.2 98.4 146.7 175.5 194.1 20

21 Finance companies 19.7 22.9 27.0 29.3 32.3 38.3 37.3 38.8 37.0 39.5 21

22 Mortgage companies 18.5 29.5 17.7 22.6 42.8 41.9 53.1 52.7 52.2 28.3 22

23 REITs 0.3 0.3 0.3 0.4 0.4 0.4 0.4 1.1 2.2 5.1 23

 Memo:

24 Home equity loans included above (2) ND ND ND ND ND 233.9 240.7 236.7 229.1 241.9 24

25 Commercial banking ND ND ND ND ND 115.1 122.8 122.7 121.3 129.7 25

26 Savings institutions ND ND ND ND ND 60.2 58.8 53.6 49.9 49.4 26

27 Credit unions ND ND ND ND ND 20.1 21.4 20.5 19.3 20.9 27

28 ABS issuers ND ND ND ND ND 0.1 0.4 1.0 1.7 2.4 28

29 Finance companies ND ND ND ND ND 38.3 37.3 38.8 37.0 39.5 29

(1) Mortgages on 1-4 family properties.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. 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 205.9 239.4 259.2 275.3 288.1 288.3 284.9 272.0 269.1 269.6 1

 2 Nonfinancial corporate business 15.0 15.8 16.5 17.1 17.8 18.3 18.8 19.3 19.9 20.5 2

 3 Nonfarm noncorporate business 190.0 222.7 241.7 257.1 269.0 268.5 264.6 251.0 246.2 242.9 3

 4 Federal government 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 0.8 0.9 1.0 1.1 1.2 1.4 1.6 1.8 3.0 6.2 5

 6 Total assets 205.9 239.4 259.2 275.3 288.1 288.3 284.9 272.0 269.1 269.6 6

 7 Household sector 1.4 2.4 0.9 0.8 1.1 0.9 0.8 1.1 1.4 1.3 7

 8 Nonfinancial corporate business 1.4 2.4 4.4 1.3 3.4 1.6 0.6 0.4 0.5 0.9 8

 9 Nonfarm noncorporate business 8.8 9.8 8.8 11.4 8.2 9.0 8.4 8.4 7.3 7.9 9

10 State and local governments 23.4 30.4 37.4 38.5 39.7 40.7 41.7 42.4 42.8 43.5 10

11 Federal government 10.2 11.1 11.5 11.8 12.3 22.9 31.9 27.6 24.6 22.0 11

12 Commercial banking 23.2 30.8 32.2 33.1 37.8 35.6 35.1 36.2 37.0 37.9 12

13 Savings institutions 89.2 96.4 103.5 107.1 104.4 91.8 79.9 69.8 67.4 64.3 13

14 Life insurance companies 19.9 21.0 22.5 24.6 26.9 29.0 29.3 27.2 27.5 27.8 14

15 Private pension funds 2.4 2.7 1.6 2.7 4.0 1.2 0.9 0.7 0.7 1.0 15

16 State and local govt. retirement funds 6.0 6.0 5.7 5.5 5.2 5.1 4.8 4.2 4.1 4.3 16

17 Government-sponsored enterprises 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 17

18 Agency- and GSE-backed mortgage pools 7.0 11.9 16.4 21.6 25.7 28.7 26.1 23.8 22.5 22.4 18

19 ABS issuers 0.0 0.2 0.5 1.0 1.0 0.9 3.8 6.6 8.4 9.9 19

20 Finance companies 0.9 1.1 1.5 1.8 2.2 2.7 2.6 2.7 2.6 2.7 20

21 Mortgage companies 2.0 2.7 1.8 2.0 1.8 2.8 2.7 3.0 3.1 3.1 21

22 REITs 1.8 1.8 2.1 2.6 2.5 2.3 2.2 2.2 1.9 2.1 22
FFA, 1985-1994, Z.1, December 9, 2004 87

L.220 Commercial Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 541.7 602.7 693.9 766.1 801.0 820.7 807.1 763.5 739.7 727.2 1

 2 Household sector 33.1 38.3 44.4 59.0 72.8 82.5 95.5 100.9 108.5 101.5 2

 3 Nonfinancial corporate business 143.7 160.6 227.3 227.4 228.6 246.0 233.9 197.0 183.1 182.9 3

 4 Nonfarm noncorporate business 363.3 402.0 420.1 477.4 497.2 489.2 474.5 462.0 442.1 430.2 4

 5 REITs 1.7 1.9 2.1 2.3 2.5 2.9 3.2 3.6 6.0 12.5 5

 6 Total assets 541.7 602.7 693.9 766.1 801.0 820.7 807.1 763.5 739.7 727.2 6

 7 Household sector 2.1 1.0 2.0 1.8 2.5 2.0 1.9 2.6 3.2 3.1 7

 8 Nonfinancial corporate business 46.1 34.7 27.2 48.0 23.3 17.7 21.9 23.5 20.8 22.8 8

 9 Nonfarm noncorporate business 20.7 20.2 16.6 18.2 14.2 11.8 8.0 6.6 5.7 6.2 9

10 State and local governments 4.4 5.1 5.7 6.0 6.4 7.1 7.7 7.5 7.7 8.3 10

11 Federal government 8.3 8.4 6.6 5.3 4.4 13.4 21.2 14.6 20.5 13.2 11

12 Commercial banking 185.5 229.1 279.3 305.4 342.8 366.2 375.3 365.7 357.7 362.3 12

13 Savings institutions 114.1 119.4 146.9 138.6 136.5 109.2 86.7 68.2 60.8 53.9 13

14 Life insurance companies 127.7 149.1 166.7 187.5 205.5 215.1 209.5 194.4 178.4 169.8 14

15 Other insurance companies 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 15

16 Private pension funds 7.2 4.6 5.2 11.1 13.8 18.2 13.3 10.6 9.1 3.1 16

17 State and local govt. retirement funds 5.6 6.3 6.2 6.7 6.6 7.5 8.3 8.9 7.0 7.0 17

18 Agency- and GSE-backed mortgage pools 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 ABS issuers 0.6 1.9 3.8 5.6 9.2 12.0 14.3 21.2 31.6 37.7 19

20 Finance companies 8.0 10.2 13.7 16.2 19.4 24.0 23.3 24.3 23.1 24.7 20

21 Mortgage companies 4.2 4.4 4.4 4.4 4.5 4.5 4.5 4.8 5.1 5.1 21

22 REITs 3.8 3.9 4.5 5.6 5.4 5.0 4.5 4.8 4.5 6.1 22

L.221 Farm Mortgages

Billions of dollars

 1 Total liabilities (Farm business) 105.9 95.2 87.7 83.0 80.5 78.9 79.2 79.7 80.5 83.2 1

 2 Total assets 105.9 95.2 87.7 83.0 80.5 78.9 79.2 79.7 80.5 83.2 2

 3 Household sector 24.5 20.2 18.0 14.9 13.6 12.0 12.8 13.5 14.3 14.6 3

 4 Nonfarm noncorporate business 0.6 0.6 0.7 0.7 0.7 0.7 0.8 0.8 0.7 0.8 4

 5 State and local governments 1.4 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.4 5

 6 Federal government 10.4 10.7 10.2 9.8 9.3 8.6 8.2 7.5 7.0 6.7 6

 7 Commercial banking 11.4 12.7 14.4 15.5 16.7 17.2 18.4 19.9 20.9 22.6 7

 8 Savings institutions 0.7 0.7 0.8 0.7 0.7 0.5 0.4 0.3 0.3 0.3 8

 9 Life insurance companies 11.9 11.0 9.9 9.6 9.6 10.8 10.0 9.2 9.1 9.6 9

10 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Government-sponsored enterprises 44.7 37.6 32.1 30.2 28.4 27.6 27.1 27.0 26.8 26.9 11

12 Agency- and GSE-backed mortgage pools 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.4 12
88 FFA, 1985-1994, Z.1, December 9, 2004

L.222 Consumer Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities (Households) 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.0 1

 2 Total assets 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.0 2

 3 Nonfinancial corporate business 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 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 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.7 5

 6 Commercial banking 297.2 320.2 334.1 360.8 383.3 382.0 370.2 362.9 395.7 458.8 6

 7 Savings institutions 57.6 62.9 65.3 66.8 62.5 49.6 42.2 37.4 37.9 38.5 7

 8 Credit unions 74.0 77.1 81.0 88.3 91.7 91.6 90.3 91.7 101.6 119.6 8

 9 Government-sponsored enterprises 6.8 8.2 10.0 13.2 16.0 19.2 21.1 24.2 26.8 30.4 9

10 ABS issuers 0.0 0.0 0.0 0.0 47.3 76.7 103.0 120.3 130.5 146.1 10

11 Finance companies 132.4 151.0 154.1 155.3 144.6 138.1 125.9 122.6 116.1 134.4 11

L.223 Trade Credit

Billions of dollars

 1 Total trade payables 910.1 930.6 1013.7 1118.9 1195.8 1249.7 1302.7 1371.2 1450.6 1570.6 1

 2 Household sector 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 2

 3 Nonfinancial corporate business 479.7 478.0 522.4 576.1 597.9 626.3 649.4 682.8 719.3 796.5 3

 4 Nonfarm noncorporate business 56.9 45.5 50.9 53.3 58.7 60.0 59.7 66.6 67.3 73.8 4

 5 Farm business 15.1 12.1 10.9 11.8 12.3 12.7 13.0 13.2 14.2 15.2 5

 6 State and local governments 251.7 272.4 293.1 313.9 336.0 359.2 381.3 404.3 429.7 457.5 6

 7 Federal government 58.2 72.8 80.3 88.2 96.8 91.2 85.8 83.1 86.1 85.7 7

 8 Rest of the world 16.3 15.6 18.1 25.8 28.6 27.4 30.4 31.8 35.9 39.5 8

 9 Brokers and dealers 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 9

10 Total trade receivables 939.9 958.4 1043.1 1161.7 1224.3 1273.8 1270.1 1307.8 1367.1 1467.9 10

11 Nonfinancial corporate business 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 11

12 Nonfarm noncorporate business 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 12

13 State and local governments 41.3 42.2 46.0 50.8 54.2 56.7 59.1 62.2 65.8 71.2 13

14 Federal government 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 14

15 Rest of the world 30.9 31.9 34.1 36.8 39.1 45.3 44.8 47.2 50.0 51.8 15

16 Other insurance companies 27.2 32.1 35.7 42.5 45.3 47.2 49.1 49.0 50.7 52.9 16

17 ABS issuers 2.4 3.3 5.1 6.8 8.7 17.4 21.5 25.8 28.4 35.2 17

18 Discrepancy -29.8 -27.8 -29.4 -42.8 -28.6 -24.0 32.5 63.4 83.5 102.7 18

L.224 Security Credit

Billions of dollars

 1 Total liabilities 131.2 141.1 115.3 118.3 133.9 137.4 188.9 217.7 279.0 279.0 1

 2 Household sector 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 80.5 83.6 73.5 74.8 91.4 98.6 133.8 164.2 202.9 203.9 4

 5 Customer credit balances (HH) 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 5

 6 From U.S.-chartered commercial banks 38.5 32.5 29.4 29.0 33.2 27.8 30.0 57.3 61.4 56.8 6

 7 From foreign banking offices in U.S. 7.0 7.1 5.0 4.9 5.0 8.4 16.8 30.7 39.3 38.1 7

 8 Total assets 131.2 141.1 115.3 118.3 133.9 137.4 188.9 217.7 279.0 279.0 8

 9 Household sector 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Commercial banking 45.4 39.6 34.4 33.9 38.2 36.2 46.8 88.0 100.7 94.9 11

12 Brokers and dealers 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 12
FFA, 1985-1994, Z.1, December 9, 2004 89

L.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Life insurance reserves:

 1 Total liabilities 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 1

 2 Federal government 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 2

 3 Life insurance companies 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 3

 4 Total assets (Households) 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 4

 Pension fund reserves:

 5 Total liabilities 2085.0 2325.1 2497.3 2748.1 3221.1 3376.3 3854.3 4153.9 4616.1 4883.8 5

 6 Life insurance companies 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 6

 7 Private pension funds (1) 1250.4 1314.9 1383.6 1429.8 1660.9 1656.1 1957.3 2060.4 2305.9 2470.9 7

 8 State and local govt. retirement funds 402.0 480.7 532.0 615.4 760.5 810.1 893.8 973.9 1066.6 1104.7 8

 9 Federal government retirement funds (2) 172.1 201.7 233.0 267.5 304.2 340.4 382.1 426.3 468.4 511.5 9

10 Total assets (Households) (3) 2085.0 2325.1 2497.3 2748.1 3221.1 3376.3 3854.3 4153.9 4616.1 4883.8 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 66.3 72.9 79.1 80.2 80.9 82.8 76.8 87.4 96.4 99.6 1

 2 Nonfinancial corporate business 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 2

 3 Nonfarm noncorporate business 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 3

 4 U.S.-chartered commercial banks 0.4 0.4 0.4 0.6 0.8 0.6 0.5 0.7 1.2 1.9 4

 5 Savings institutions 1.1 1.1 1.2 1.2 1.1 0.9 1.2 1.4 1.9 1.0 5

 6 Life insurance companies 2.5 3.1 3.4 3.8 4.8 5.3 6.4 7.8 9.4 10.4 6

 7 Other insurance companies 0.9 1.1 1.6 2.3 2.9 3.6 4.7 5.6 7.0 7.9 7

 8 Finance companies 0.1 0.2 0.4 0.7 1.0 1.4 1.9 2.6 3.3 4.1 8

 9 Brokers and dealers 0.8 0.9 0.4 0.5 0.6 0.7 0.9 0.9 1.4 1.2 9

10 Total business taxes receivable 37.7 47.5 48.9 57.8 60.6 58.8 54.8 54.2 52.0 46.3 10

11 State and local governments 26.4 29.1 29.6 33.3 36.8 36.3 38.4 38.7 33.1 27.7 11

12 Federal government 11.3 18.4 19.3 24.5 23.8 22.5 16.4 15.5 18.9 18.6 12

13 Discrepancy 28.5 25.4 30.2 22.5 20.3 24.0 22.1 33.3 44.4 53.3 13

L.227 Investment in Bank Personal Trusts and Estates

Billions of dollars

 1 Liab.: Bank personal trusts and estates 384.3 429.1 442.1 470.3 541.4 551.7 639.3 660.6 691.3 699.4 1

 2 Asset: Household sector 384.3 429.1 442.1 470.3 541.4 551.7 639.3 660.6 691.3 699.4 2
90 FFA, 1985-1994, Z.1, December 9, 2004

L.229 Total Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 2996.2 3142.7 3443.0 3865.8 4280.2 4465.0 4825.9 5253.5 5711.1 6032.0 1

 2 Household sector 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 2

 3 Nonfinancial corporate business 1174.0 1138.0 1169.8 1336.9 1495.4 1531.7 1674.2 1888.6 2078.8 2107.6 3

 4 Nonfarm noncorporate business 130.8 139.4 127.9 148.7 171.8 163.7 167.4 181.7 187.6 203.3 4

 5 Federal government 172.1 201.7 233.1 270.6 307.1 340.3 378.0 417.7 454.7 492.3 5

 6 Rest of the world 440.9 474.5 520.0 596.3 655.5 713.4 725.9 734.8 835.8 901.5 6

 7 Monetary authority 4.8 4.7 5.7 5.8 10.0 4.3 5.5 3.7 4.6 6.0 7

 8 Commercial banking 235.6 267.1 315.8 357.1 459.0 465.1 507.6 554.6 628.4 750.1 8

 9 Savings institutions 79.9 90.5 100.7 121.0 84.1 107.8 106.3 106.7 102.9 106.6 9

10 Credit unions 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 10

11 Life insurance companies 241.4 261.2 305.8 314.9 342.8 348.1 388.3 402.5 435.9 474.5 11

12 Other insurance companies 214.7 258.4 304.3 335.6 369.9 396.9 416.4 439.9 456.1 471.9 12

13 Government-sponsored enterprises 54.9 63.1 60.7 61.8 68.0 69.2 76.5 89.0 84.0 59.1 13

14 Finance companies 96.7 94.8 125.7 137.6 132.4 136.8 140.0 158.9 165.8 180.6 14

15 Mortgage companies 8.1 10.9 9.4 14.5 24.6 24.6 38.2 30.3 30.2 17.7 15

16 REITs 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 16

17 Brokers and dealers 27.0 33.1 39.4 42.0 35.2 37.5 41.5 52.2 67.4 69.0 17

18 Funding corporations 96.7 87.8 104.4 99.6 102.4 104.1 137.1 170.2 155.2 163.3 18

19 Total assets 2864.7 3208.4 3656.8 4221.8 4754.7 4920.1 5270.9 5514.1 6086.3 6602.5 19

20 Household sector 144.3 162.6 189.4 208.0 223.6 242.5 253.5 271.4 285.4 299.5 20

21 Nonfinancial corporate business 1304.8 1448.4 1612.2 1871.1 2024.0 2122.3 2199.4 2288.4 2539.0 2698.2 21

22 Nonfarm noncorporate business 54.8 65.1 66.7 81.4 90.2 85.9 94.0 97.5 111.7 130.3 22

23 Farm business 24.3 27.6 29.6 32.4 34.5 36.6 37.8 39.8 41.3 42.6 23

24 State and local governments 8.1 9.8 13.7 13.2 14.5 16.0 19.3 15.6 -15.3 40.1 24

25 Federal government 15.8 16.3 17.4 18.6 34.0 68.2 104.3 119.7 115.9 119.1 25

26 Rest of the world 280.5 307.3 374.3 455.8 573.8 590.8 658.1 615.3 721.6 742.4 26

27 Monetary authority 8.0 7.7 9.9 9.4 7.5 6.0 5.6 7.4 9.6 9.8 27

28 Commercial banking 286.5 319.8 351.9 374.2 476.5 454.4 472.7 549.3 627.0 738.0 28

29 Savings institutions 122.1 124.3 145.8 177.0 138.1 96.6 85.5 78.2 61.0 53.0 29

30 Credit unions 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.2 14.8 30

31 Bank personal trusts and estates 6.8 6.5 7.8 7.6 9.0 8.7 10.8 12.6 16.0 12.9 31

32 Life insurance companies 57.8 64.8 77.8 86.4 95.1 81.3 91.1 83.0 75.7 97.9 32

33 Other insurance companies 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 33

34 Private pension funds 262.5 294.2 340.7 367.8 378.8 361.1 401.4 401.5 421.5 462.9 34

35 State and local govt. retirement funds 5.6 8.0 6.5 24.1 71.3 89.1 52.6 51.7 46.8 52.2 35

36 Federal government retirement funds 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 36

37 Money market mutual funds 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 37

38 Mutual funds 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 38

39 Government-sponsored enterprises 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 39

40 Finance companies 21.8 30.4 43.6 52.0 62.0 66.3 96.2 90.4 116.1 108.5 40

41 REITs 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 41

42 Brokers and dealers 26.8 34.7 38.2 47.2 66.5 97.0 129.0 180.4 228.6 254.2 42

43 Funding corporations 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 43

44 Discrepancy 131.5 -65.6 -213.8 -356.0 -474.5 -455.1 -445.0 -260.6 -375.2 -570.5 44
FFA, 1985-1994, Z.1, December 9, 2004 91

L.230 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 408.5 438.5 507.9 536.2 570.2 628.7 654.5 672.4 723.5 786.6 1

 2 Asset: Nonfinancial corporate business 377.8 403.3 463.8 485.0 497.5 555.1 577.0 584.4 607.1 685.6 2

 3 Commercial banking 14.8 15.0 18.7 20.2 22.6 24.9 25.4 29.9 33.8 35.6 3

 4 Life insurance companies 1.6 1.5 1.9 2.1 2.4 2.7 3.7 4.0 4.9 4.8 4

 5 Other insurance companies 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 5

 6 Finance companies 3.4 5.7 5.2 7.3 23.1 18.7 21.2 24.6 44.6 25.9 6

 7 Brokers and dealers 0.9 1.2 2.8 2.7 2.3 2.5 3.5 5.4 4.3 2.6 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 210.9 254.1 316.7 394.3 454.6 513.3 511.3 518.3 540.3 592.2 8

 9 Nonfarm noncorporate business 8.0 8.1 3.1 6.5 8.7 3.8 3.9 4.4 5.2 4.8 9

10 Commercial banking 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 10

11 Life insurance companies 7.3 9.4 7.2 7.3 8.6 9.9 8.6 9.7 13.1 10.9 11

12 Other insurance companies 4.5 6.0 10.5 11.7 14.2 17.3 24.7 25.7 26.7 27.9 12

13 Finance companies 1.4 3.6 3.5 2.7 9.3 4.6 5.6 9.5 33.8 20.0 13

14 Brokers and dealers 3.8 3.6 3.1 4.8 6.3 3.8 5.8 5.3 5.0 5.8 14

15 Funding corporations 0.0 -12.4 -23.9 -42.4 -52.4 -65.7 -51.4 -53.8 -54.9 -70.1 15

16 Asset: Rest of the world 247.2 284.7 334.6 401.8 467.9 505.3 533.4 540.3 593.3 618.0 16

 Federal government equity in IBRD, etc.:

17 Liab.: Rest of the world 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 17

18 Asset: Federal government 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 18

 Federal Reserve Bank stock:

19 Liab.: Monetary authority 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 19

20 Asset: Commercial banking 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 20

 Equity in government-sponsored enterprises:

21 Liab.: Government-sponsored enterprises 13.1 13.7 15.0 16.9 16.3 13.7 13.0 12.8 14.4 16.3 21

22 Asset: Nonfin. corporate business (FNMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Nonfarm noncorporate (BC) 0.8 0.8 0.7 0.7 0.8 0.6 0.6 0.6 0.8 0.9 23

24 Farm business (FICB and FLB) 4.0 3.4 3.0 3.0 2.2 2.0 2.2 2.1 2.2 2.2 24

25 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Commercial banks (FHLB) 0.0 0.0 0.0 0.0 0.0 0.1 0.7 1.4 2.7 4.3 26

27 Savings institutions (FHLB) 8.3 9.5 11.3 13.2 13.4 11.0 9.5 8.6 8.7 8.6 27

28 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 28

29 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 29

 BHC investment in subsidiaries:

30 Liab.: Commercial banking 152.1 168.8 172.6 193.8 202.4 207.8 227.2 255.0 286.6 304.2 30

31 Savings institutions 7.2 7.3 6.5 6.4 6.4 6.0 5.0 4.0 4.4 4.4 31

32 Finance companies 35.8 41.3 37.5 27.6 26.4 18.3 16.2 17.2 17.8 20.9 32

33 Mortgage companies 8.1 10.9 9.4 14.5 24.6 24.6 38.2 30.3 30.2 17.7 33

34 Brokers and dealers 0.0 0.0 15.0 17.3 18.6 6.3 -18.4 -8.2 3.8 13.4 34

35 Asset: Bank holding companies 203.2 228.3 240.9 259.7 278.4 263.0 268.2 298.2 342.9 360.6 35

 NFC inv. in finance company subs.:

36 Liab.: Finance companies 16.7 18.7 12.5 9.2 8.8 18.3 16.2 17.2 17.8 20.9 36

37 Asset: Nonfinancial corporate business 16.7 18.7 12.5 9.2 8.8 18.3 16.2 17.2 17.8 20.9 37

 Funding corp. investment in subs.:

38 Liab.: Foreign banking offices in U.S. 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 38

39 Brokers and dealers 16.0 19.4 21.7 28.5 28.3 33.8 44.5 63.7 80.8 96.9 39

40 Asset: Funding corporations 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 40
92 FFA, 1985-1994, Z.1, December 9, 2004

L.231 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 1.9 0.9 0.8 0.7 0.6 0.7 1.7 1.8 2.1 2.2 1

 2 Asset: Federal government 1.9 0.9 0.8 0.7 0.6 0.7 1.7 1.8 2.1 2.2 2

 Postal Savings System deposits:

 3 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 Deposits at Federal Home Loan Banks:

 5 Liab.: Government-sponsored enterprises 23.3 27.0 20.4 19.0 25.9 30.7 31.7 30.8 23.7 16.0 5

 6 Asset: Savings institutions 23.3 27.0 20.4 19.0 25.9 30.7 31.7 30.8 23.7 16.0 6

 Deferred and unpaid life insurance premiums:

 7 Liab.: Household sector 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 7

 8 Asset: Life insurance companies 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 8

 Life insurance company reserves:

 9 Liab.: Life insurance companies 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 9

10 Health 18.8 21.3 24.0 26.9 29.9 33.4 38.2 45.2 51.4 58.0 10

11 Policy dividend accumulation 26.3 26.9 27.9 29.1 30.7 31.9 31.7 32.3 32.8 32.9 11

12 Policy and contract claims 11.8 12.8 14.5 16.7 17.4 18.1 19.4 20.4 21.3 22.6 12

13 Asset: Household sector 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 13

 Policy payables:

14 Liab.: Other insurance companies 210.2 252.4 293.8 323.9 355.7 379.7 391.7 414.3 429.4 444.0 14

15 Asset: Household sector 87.4 101.6 123.0 135.4 145.7 159.1 164.1 173.6 179.9 186.0 15

16 Nonfinancial corporate business 62.8 81.6 105.1 120.0 134.2 147.5 149.5 163.0 169.7 175.4 16

17 Nonfarm noncorporate business 39.6 45.0 39.0 39.1 43.3 38.6 42.4 39.9 40.8 42.2 17

18 Farm business 20.4 24.2 26.7 29.4 32.4 34.6 35.6 37.7 39.1 40.4 18

 Unallocated insurance company contracts:

19 Liab.: Life insurance companies 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 19

20 Asset: Private pension funds 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 20

 Pension fund contributions payable:

21 Liab.: Nonfinancial corporate business 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 21

22 Asset: Private pension funds 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 22

 Securities borrowed (net):

23 Liab.: Funding corporations 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 23

24 Asset: Brokers and dealers 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 24

 Nonmarketable government securities:

25 Liab.: Federal government 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 25

26 Asset: Federal government retirement funds 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 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, 1985-1994, Z.1, December 9, 2004 93

L.232 Unidentified Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1416.0 1360.9 1407.8 1621.0 1793.4 1769.5 1931.3 2144.9 2309.5 2383.3 1

 2 Nonfinancial corporate business 944.4 865.2 832.8 923.6 1014.5 986.1 1118.5 1316.0 1471.9 1437.1 2

 3 Nonfarm noncorporate business 122.8 131.3 124.9 142.2 163.1 159.8 163.5 177.3 182.4 198.4 3

 4 Federal government 0.0 0.0 1.2 5.8 7.8 7.7 7.0 6.9 6.8 6.8 4

 5 Rest of the world 16.5 19.7 -5.2 41.5 65.5 63.5 47.8 37.4 85.7 86.8 5

 6 Monetary authority 3.1 2.8 3.7 3.6 7.7 1.9 2.8 0.6 1.2 2.3 6

 7 Commercial banking 49.5 59.0 94.8 99.5 188.5 191.2 208.2 227.3 273.2 375.6 7

 8 U.S.-chartered commercial banks 39.9 41.7 60.8 65.4 75.8 75.8 84.0 76.3 91.0 158.9 8

 9 Foreign banking offices in U.S. 0.4 0.0 16.7 15.3 89.0 88.1 102.9 124.8 157.1 187.3 9

10 Bank holding companies 3.5 14.4 15.6 16.3 20.6 23.3 18.2 22.0 19.6 22.0 10

11 Banks in U.S.-affiliated areas 5.6 2.9 1.8 2.4 3.1 4.0 3.1 4.2 5.6 7.4 11

12 Savings institutions 72.7 83.2 94.3 114.5 77.7 101.8 101.3 102.7 98.5 102.2 12

13 Credit unions 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 13

14 Life insurance companies 45.4 43.9 46.0 48.2 51.6 39.9 45.7 47.4 49.5 52.1 14

15 Government-sponsored enterprises 18.4 22.5 25.3 25.8 25.8 24.9 31.8 45.4 45.9 26.9 15

16 Finance companies 42.8 31.2 72.2 98.2 87.8 95.5 102.0 115.1 96.4 118.8 16

17 REITs 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 17

18 Brokers and dealers 7.1 10.1 -0.5 -8.7 -18.0 -6.3 9.7 -8.6 -22.3 -47.2 18

19 Funding corporations 89.9 88.2 113.2 118.9 115.6 98.3 85.6 70.5 13.0 11.7 19

20 Total assets 1284.5 1426.5 1621.5 1976.9 2267.9 2224.6 2376.4 2405.5 2684.7 2953.8 20

21 Nonfinancial corporate business 847.5 944.8 1030.9 1256.9 1383.4 1401.4 1456.6 1523.8 1744.5 1816.3 21

22 Nonfarm noncorporate business 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 22

23 State and local governments 8.1 9.8 13.7 13.2 14.5 16.0 19.3 15.6 -15.3 40.1 23

24 Federal government 0.0 0.0 0.0 0.0 14.3 47.1 80.7 94.6 89.3 91.1 24

25 Rest of the world 33.3 22.6 39.7 54.0 105.9 85.4 124.7 75.1 128.3 124.4 25

26 Monetary authority 8.0 7.7 9.9 9.4 7.5 6.0 5.6 7.4 9.6 9.8 26

27 Commercial banking 66.7 74.5 90.2 92.1 173.3 163.9 175.8 216.7 244.1 333.8 27

28 U.S.-chartered commercial banks 40.0 41.5 38.9 38.1 49.9 51.6 49.4 44.6 38.1 82.8 28

29 Foreign banking offices in U.S. 18.1 24.6 42.3 44.3 110.6 86.1 100.5 142.1 175.9 213.5 29

30 Bank holding companies 4.2 6.0 7.3 6.6 8.8 22.0 22.2 27.0 27.5 35.2 30

31 Banks in U.S.-affiliated areas 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 31

32 Savings institutions 90.4 87.9 114.1 144.8 98.8 54.9 44.3 38.8 28.6 28.4 32

33 Credit unions 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.1 14.7 33

34 Bank personal trusts and estates 6.8 6.5 7.8 7.6 9.0 8.7 10.8 12.6 16.0 12.9 34

35 Life insurance companies 41.0 49.5 60.8 68.7 76.4 62.1 71.6 63.2 54.5 76.2 35

36 Private pension funds 112.0 128.6 134.2 161.9 147.8 114.0 112.5 99.6 87.0 86.7 36

37 State and local govt. retirement funds 5.6 8.0 6.5 24.1 71.3 89.1 52.6 51.7 46.8 52.2 37

38 Mutual funds 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 38

39 Money market mutual funds 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 39

40 Government-sponsored enterprises 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 40

41 Finance companies 18.4 24.8 38.4 44.7 38.9 47.7 75.0 65.8 71.5 82.7 41

42 REITs 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 42

43 Brokers and dealers 19.0 21.5 20.3 21.3 24.9 23.1 22.6 21.5 27.2 30.0 43

44 Discrepancy 131.5 -65.6 -213.8 -356.0 -474.5 -455.1 -445.0 -260.6 -375.2 -570.5 44
94 FFA, 1985-1994, Z.1, December 9, 2004

B.100 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 16508.8 18226.7 19474.5 21300.5 23351.6 23957.7 25761.9 26920.1 28448.3 29424.3 1

 2 Tangible assets 6500.2 7096.7 7656.2 8308.3 8963.6 9164.3 9431.9 9780.4 10096.1 10416.8 2

 3 Real estate 5214.9 5679.6 6123.0 6643.0 7179.1 7277.8 7476.4 7745.7 7957.8 8158.5 3

 4 Households (2,3) 4574.0 5001.4 5411.2 5884.3 6376.8 6476.5 6709.1 7018.7 7248.2 7405.4 4

 5 Nonprofit organizations 640.9 678.2 711.9 758.7 802.3 801.3 767.3 727.0 709.6 753.2 5

 Equipment and software owned by

 6 nonprofit organizations (4) 31.3 33.3 35.9 39.3 44.9 49.7 54.0 59.7 60.8 62.6 6

 7 Consumer durable goods (4) 1254.0 1383.9 1497.3 1625.9 1739.5 1836.8 1901.5 1975.1 2077.5 2195.7 7

 8 Financial assets 10008.6 11129.9 11818.2 12992.2 14388.0 14793.4 16330.0 17139.7 18352.2 19007.5 8

 9 Deposits 2484.0 2720.9 2864.5 3055.0 3211.7 3259.1 3253.0 3219.4 3155.8 3109.3 9

10 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 10

11 Checkable deposits and currency 312.6 425.1 427.4 424.5 424.1 412.1 461.3 569.8 615.0 584.3 11

12 Time and savings deposits 1970.3 2058.4 2177.4 2354.5 2434.0 2465.0 2394.1 2291.9 2183.3 2153.7 12

13 Money market fund shares 193.3 228.8 250.0 265.3 341.7 368.6 383.1 342.2 341.8 352.5 13

14 Credit market instruments 849.5 866.2 1027.6 1228.5 1316.1 1555.3 1633.7 1675.0 1650.8 1946.1 14

15 Open market paper 35.0 30.6 32.9 67.3 56.9 63.2 33.3 29.9 45.5 46.7 15

16 Treasury securities 262.5 250.5 281.1 366.1 364.7 471.2 502.7 598.3 645.6 845.6 16

17 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 17

18 Other Treasury 182.7 157.2 180.0 256.5 246.9 345.0 364.6 441.0 473.7 665.6 18

19 Agency- and GSE-backed securities 6.9 7.0 11.9 28.4 49.3 68.9 38.7 -7.8 -66.1 51.0 19

20 Municipal securities 348.0 355.4 453.5 524.2 547.7 575.0 614.4 578.9 534.8 483.1 20

21 Corporate and foreign bonds 77.4 107.2 123.9 116.6 162.9 233.5 299.0 335.9 358.3 396.1 21

22 Mortgages 119.7 115.5 124.2 125.9 134.5 143.5 145.7 139.9 132.5 123.7 22

23 Corporate equities (2) 1058.1 1330.3 1306.2 1585.0 1939.8 1770.1 2517.3 2857.1 3223.5 3081.6 23

24 Mutual fund shares (5) 197.9 333.2 381.7 400.1 462.9 456.6 570.3 706.7 969.2 981.9 24

25 Security credit 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 25

26 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 26

27 Pension fund reserves 2085.0 2325.1 2497.3 2748.1 3221.1 3376.3 3854.3 4153.9 4616.1 4883.8 27

28 Investment in bank personal trusts 384.3 429.1 442.1 470.3 541.4 551.7 639.3 660.6 691.3 699.4 28

29 Equity in noncorporate business (6) 2506.2 2635.8 2761.0 2920.6 3053.0 3127.8 3102.9 3071.5 3173.1 3376.5 29

30 Miscellaneous assets 144.3 162.6 189.4 208.0 223.6 242.5 253.5 271.4 285.4 299.5 30

31 Liabilities 2367.7 2633.5 2840.4 3139.9 3450.1 3719.3 3934.3 4139.9 4408.0 4735.4 31

32 Credit market instruments 2277.5 2535.6 2752.2 3039.6 3333.8 3597.2 3787.3 3988.6 4227.6 4550.4 32

33 Home mortgages (7) 1449.3 1646.6 1825.0 2049.9 2273.6 2504.1 2683.5 2857.5 3017.3 3186.6 33

34 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.0 34

35 Municipal securities (8) 81.3 78.4 78.1 79.9 83.3 86.6 90.6 92.6 94.0 97.6 35

36 Bank loans n.e.c. 31.0 31.0 31.9 30.0 20.4 17.9 13.1 17.6 27.4 40.0 36

37 Other loans and advances 72.2 75.0 74.3 75.7 74.3 81.7 89.1 95.3 94.2 103.7 37

38 Commercial mortgages (8) 33.1 38.3 44.4 59.0 72.8 82.5 95.5 100.9 108.5 101.5 38

39 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 39

40 Trade payables (8) 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 40

 Deferred and unpaid

41 life insurance premiums 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 41

42 Net worth 14141.1 15593.1 16634.0 18160.5 19901.5 20238.4 21827.6 22780.2 24040.3 24688.8 42

 Memo:

 Replacement-cost value of structures:

43 Residential 3352.3 3631.4 3890.7 4162.3 4429.8 4623.8 4742.9 5038.9 5390.8 5823.3 43

44 Households 3222.3 3493.7 3747.2 4013.9 4276.5 4467.0 4585.7 4878.2 5227.9 5656.7 44

45 Farm households 41.8 43.0 44.6 45.6 47.5 48.7 49.4 50.4 50.5 51.0 45

46 Nonprofit organizations 88.3 94.6 98.9 102.8 105.8 108.2 107.8 110.2 112.4 115.6 46

47 Nonresidential (nonprofits) 357.1 378.5 401.5 424.9 450.0 472.2 484.0 505.6 533.9 567.8 47

48 Disposable personal income 3109.3 3285.1 3458.3 3748.7 4021.7 4285.8 4464.3 4751.4 4911.9 5151.9 48

 Household net worth as percentage of

49 disposable personal income 454.8 474.7 481.0 484.4 494.9 472.2 488.9 479.4 489.4 479.2 49

 Owners’ equity in household real

50 estate (9) 3124.7 3354.8 3586.2 3834.4 4103.1 3972.4 4025.6 4161.1 4230.9 4218.8 50

 Owners’ equity as percentage of

51 household real estate (10) 68.3 67.1 66.3 65.2 64.3 61.3 60.0 59.3 58.4 57.0 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, 1985-1994, Z.1, December 9, 2004 95

B.102 Balance Sheet of Nonfarm Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 With tangible assets stated at either market value or replacement cost:

 1 Assets 7469.4 7807.8 8304.7 9040.3 9516.1 9753.7 9746.5 9759.0 10101.1 10714.8 1

 2 Tangible assets 5004.9 5175.2 5441.9 5799.5 6048.7 6178.2 6048.4 5899.8 5893.9 6237.5 2

 3 Real estate (1) 2829.4 2916.3 3053.2 3252.5 3353.6 3337.9 3161.8 2946.6 2828.0 2994.4 3

 4 Equipment and software (2) 1462.8 1551.0 1624.4 1721.3 1826.1 1938.8 1999.3 2051.2 2131.4 2236.1 4

 5 Inventories (2) 712.7 707.8 764.2 825.6 869.0 901.5 887.3 902.0 934.5 1007.0 5

 6 Financial assets 2464.6 2632.6 2862.9 3240.8 3467.4 3575.5 3698.1 3859.2 4207.2 4477.3 6

 7 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 7

 8 Checkable deposits and currency 125.7 127.2 136.8 150.7 159.8 165.8 172.7 168.4 188.9 200.6 8

 9 Time and savings deposits 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 9

10 Money market fund shares 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 10

11 Security RPs 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 11

12 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 12

13 Treasury securities 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 13

14 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 14

15 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 15

16 Mortgages 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 16

17 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 17

18 Trade receivables 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 18

19 Mutual fund shares (1) 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 19

20 Miscellaneous assets 1304.8 1448.4 1612.2 1871.1 2024.0 2122.3 2199.4 2288.4 2539.0 2698.2 20

21 Liabilities 3308.2 3498.2 3774.0 4191.7 4532.7 4729.4 4829.8 5109.7 5388.6 5627.4 21

22 Credit market instruments 1615.5 1839.5 2033.9 2234.2 2401.1 2533.1 2477.3 2502.9 2549.8 2682.9 22

23 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 23

24 Municipal securities (3) 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 24

25 Corporate bonds (4) 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1229.7 1253.0 25

26 Bank loans n.e.c. 424.1 481.1 485.1 517.9 542.8 545.5 507.7 488.4 480.5 527.2 26

27 Other loans and advances 248.4 289.6 322.6 372.9 418.9 473.1 410.2 412.6 388.4 421.4 27

28 Mortgages 165.6 183.4 252.1 254.2 255.8 274.4 260.0 222.0 208.6 210.4 28

29 Trade payables 479.7 478.0 522.4 576.1 597.9 626.3 649.4 682.8 719.3 796.5 29

30 Taxes payable 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 30

31 Miscellaneous liabilities 1174.0 1138.0 1169.8 1336.9 1495.4 1531.7 1674.2 1888.6 2078.8 2107.6 31

32 Net worth (market value) 4161.2 4309.5 4530.8 4848.7 4983.3 5024.3 4916.7 4649.2 4712.5 5087.4 32

 Memo:

 Replacement-cost value of structures:

33 Residential 55.0 59.0 61.3 63.4 64.5 65.7 67.0 69.7 71.5 74.2 33

34 Nonresidential 1916.4 1972.3 2066.0 2202.7 2327.0 2451.8 2488.4 2574.0 2703.6 2852.8 34

 Market value of equities outstanding

35 (includes corporate farm equities) 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 35

36 Debt/net worth (percent) (5) 38.8 42.7 44.9 46.1 48.2 50.4 50.4 53.8 54.1 52.7 36

37 Debt/equities (percent) (6) 84.3 82.1 88.9 87.3 76.5 85.7 62.0 57.4 52.7 55.9 37

38 Equities/net worth (percent) (7) 46.1 52.0 50.5 52.8 63.0 58.8 81.3 93.8 102.8 94.3 38

 With tangible assets stated at historical cost:

39 Assets (8) 5438.1 5748.9 6172.6 6755.8 7172.9 7479.9 7745.1 8080.4 8634.5 9149.6 39

40 Tangible assets 2973.6 3116.3 3309.8 3515.0 3705.6 3904.4 4047.0 4221.2 4427.3 4672.3 40

41 Real estate 1151.0 1222.6 1291.7 1373.0 1452.9 1555.3 1631.2 1695.5 1765.3 1838.3 41

42 Equipment and software 1097.8 1172.2 1235.5 1307.1 1388.8 1473.8 1549.1 1623.2 1721.4 1838.0 42

43 Inventories 724.8 721.5 782.6 834.9 863.9 875.4 866.8 902.5 940.6 996.0 43

44 Net worth (historical cost) (9) 2129.9 2250.6 2398.7 2564.2 2640.2 2750.5 2915.3 2970.7 3245.9 3522.2 44

 Memo:

 Historical-cost value of structures:

45 Residential 20.4 21.8 23.2 24.3 25.5 26.5 27.6 28.6 29.7 30.6 45

46 Nonresidential 1013.0 1076.8 1136.1 1198.8 1265.3 1351.2 1422.2 1482.0 1544.8 1610.7 46

47 Debt/net worth (percent) (10) 75.8 81.7 84.8 87.1 90.9 92.1 85.0 84.3 78.6 76.2 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, 1985-1994, Z.1, December 9, 2004

B.103 Balance Sheet of Nonfarm Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 2916.9 3165.0 3323.2 3572.7 3763.7 3800.9 3747.7 3682.5 3741.3 3949.0 1

 2 Tangible assets 2646.6 2860.6 3024.8 3224.1 3407.9 3444.7 3385.4 3295.9 3329.9 3476.1 2

 3 Real estate (1) 2379.6 2570.1 2710.8 2880.8 3040.5 3065.5 3005.8 2917.2 2936.0 3057.2 3

 4 Residential 1679.6 1816.7 1904.9 2004.4 2092.9 2130.9 2125.4 2099.1 2152.3 2234.5 4

 5 Nonresidential 700.0 753.4 806.0 876.4 947.5 934.7 880.4 818.2 783.8 822.7 5

 6 Equipment and software (2) 229.6 253.2 273.8 299.8 321.6 331.7 333.0 331.2 344.7 365.9 6

 7 Residential (3) 23.4 25.3 27.0 29.0 30.5 31.6 31.9 32.6 34.1 35.7 7

 8 Nonresidential 206.2 227.9 246.7 270.8 291.1 300.1 301.0 298.6 310.6 330.1 8

 9 Inventories (2) 37.5 37.3 40.2 43.5 45.7 47.4 46.7 47.5 49.2 53.0 9

10 Financial assets 270.3 304.4 298.4 348.6 355.9 356.2 362.3 386.7 411.4 472.9 10

11 Checkable deposits and currency 61.3 63.5 64.2 68.5 69.4 71.2 72.7 77.3 79.5 91.5 11

12 Time and savings deposits 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 12

13 Money market fund shares 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 13

14 Treasury securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 14

15 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 15

16 Mortgages 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 16

17 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Trade receivables 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 18

19 Miscellaneous assets 54.8 65.1 66.7 81.4 90.2 85.9 94.0 97.5 111.7 130.3 19

20 Insurance receivables 39.6 45.0 39.0 39.1 43.3 38.6 42.4 39.9 40.8 42.2 20

21 Equity investment in GSEs (4) 0.8 0.8 0.7 0.7 0.8 0.6 0.6 0.6 0.8 0.9 21

22 Other 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 22

23 Liabilities 1007.3 1094.2 1159.0 1283.0 1362.5 1349.0 1318.1 1309.8 1294.2 1325.8 23

24 Credit market instruments 798.0 886.0 956.3 1054.2 1100.5 1093.3 1058.5 1028.4 1007.9 1015.9 24

25 Bank loans n.e.c. 98.5 103.1 113.8 122.4 134.3 136.4 135.0 137.7 140.2 153.9 25

26 Other loans and advances 78.8 85.5 89.8 99.0 100.0 94.4 87.9 85.4 84.8 84.7 26

27 Mortgages 620.7 697.4 752.7 832.7 866.1 862.6 835.6 805.3 782.9 777.3 27

28 Trade payables 56.9 45.5 50.9 53.3 58.7 60.0 59.7 66.6 67.3 73.8 28

29 Taxes payable 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 29

30 Miscellaneous liabilities 130.8 139.4 127.9 148.7 171.8 163.7 167.4 181.7 187.6 203.3 30

31 Net worth (5) 1909.6 2070.8 2164.2 2289.7 2401.2 2451.9 2429.6 2372.7 2447.2 2623.2 31

 Memo:

 Replacement-cost value of structures:

32 Residential 1157.4 1239.6 1296.5 1348.6 1389.3 1421.5 1438.3 1491.4 1542.7 1608.7 32

33 Nonresidential 462.2 497.8 538.0 584.4 626.8 657.2 661.5 675.1 702.8 737.5 33

34 Debt/net worth (percent) (6) 41.8 42.8 44.2 46.0 45.8 44.6 43.6 43.3 41.2 38.7 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, 1985-1994, Z.1, December 9, 2004 97

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 1460.8 1452.1 1040.9 1526.5 1740.9 337.0 1589.2 952.6 1260.1 648.5 1

 2 Net investment 377.8 497.6 428.0 453.4 382.1 521.9 403.7 446.2 412.4 419.9 2

 3 Net physical investment 192.3 230.3 235.7 248.1 236.2 202.3 149.2 201.5 233.2 280.6 3

 4 Capital expenditures 506.1 572.9 608.3 645.3 665.4 656.7 627.6 690.0 750.7 828.9 4

 5 - Consumption of fixed capital 313.7 342.6 372.6 397.2 429.1 454.3 478.3 488.5 517.5 548.2 5

 6 Net financial investment 185.5 267.3 192.3 205.3 145.9 319.6 254.5 244.6 179.2 139.2 6

 7 Net acquisition of financial assets 514.8 534.6 444.5 480.3 445.7 559.6 465.9 450.3 444.9 467.0 7

 8 - Net increase in liabilities 329.3 267.3 252.2 275.0 299.8 240.0 211.4 205.6 265.7 327.8 8

 Holding gains on assets

 9 at market value (2) 1047.2 947.3 575.4 1047.9 1356.5 -181.0 1163.4 499.6 831.9 178.4 9

10 Real estate 483.6 341.6 308.9 388.9 405.7 -8.4 93.0 139.2 59.2 23.2 10

11 Corporate equities 313.4 363.7 116.1 397.0 459.3 -120.8 797.9 321.2 426.7 11.1 11

12 Mutual fund shares 19.9 22.4 -12.8 9.9 36.5 -28.6 13.7 6.6 56.2 -31.2 12

13 Equity in noncorporate business 100.5 142.6 156.3 191.0 174.2 52.3 -57.4 -72.0 52.5 166.0 13

 Life insurance and

14 pension fund reserves 87.7 49.1 10.2 33.8 229.0 -52.8 246.1 76.3 207.5 19.0 14

 Investment in bank personal

15 trusts and estates 42.0 28.0 -3.3 27.3 51.8 -22.6 70.1 28.4 29.8 -9.7 15

 Holding gains on assets

16 at current cost (2) 13.1 31.5 23.5 32.9 26.6 27.8 33.1 15.9 31.2 26.5 16

17 Consumer durable goods 12.7 31.0 22.9 32.0 24.9 26.9 33.0 16.1 31.2 26.7 17

18 Equipment and software 0.4 0.6 0.6 0.9 1.7 0.9 0.0 -0.2 -0.0 -0.2 18

19 Other volume changes (3) 22.7 -24.4 14.0 -7.8 -24.3 -31.8 -11.0 -9.2 -15.3 23.8 19

 Memo:

20 Net worth outstanding (4) 14141.1 15593.1 16634.0 18160.5 19901.5 20238.4 21827.6 22780.2 24040.3 24688.8 20

21 Disposable personal income 3109.3 3285.1 3458.3 3748.7 4021.7 4285.8 4464.3 4751.4 4911.9 5151.9 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, 1985-1994, Z.1, December 9, 2004

R.102 Change in Net Worth of Nonfarm Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 110.0 148.3 221.2 317.9 134.7 40.9 -107.6 -267.5 63.3 374.9 1

 2 Net investment -109.6 -38.8 16.4 -72.8 -134.5 27.5 117.0 111.3 279.5 183.7 2

 3 Net physical investment 142.5 105.3 137.7 150.9 156.3 149.7 83.9 99.6 143.4 195.0 3

 4 Capital expenditures 386.3 365.6 382.8 404.7 435.8 449.4 422.6 442.5 495.1 566.1 4

 5 - Consumption of fixed capital 246.0 253.9 265.1 280.2 300.1 317.6 339.8 351.9 361.7 389.8 5

 6 - Inventory valuation adjustment 0.0 7.0 -16.3 -22.2 -16.3 -12.9 4.9 -2.9 -4.0 -12.5 6

 7 - Nonproduced nonfinancial assets -2.2 -0.7 -3.7 -4.2 -4.2 -5.0 -6.0 -6.2 -6.0 -6.4 7

 8 Net financial investment -167.7 -59.1 -45.8 -94.2 -166.7 -59.2 14.8 -15.3 114.8 33.5 8

 9 Net acquisition of financial assets 212.0 130.9 228.1 349.5 180.7 124.3 81.9 146.0 332.7 275.1 9

10 - Net increase in liabilities 379.7 190.0 273.9 443.7 347.4 183.5 67.1 161.3 217.9 241.6 10

11 Net corporate equity issues -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 11

 Holding gains on assets

12 at market value (2) 49.9 40.6 90.0 143.4 50.6 -90.9 -220.2 -250.9 -157.9 127.9 12

13 Real estate 50.0 39.5 90.2 142.8 48.1 -89.9 -222.9 -252.2 -159.7 128.7 13

14 Mutual fund shares -0.1 1.1 -0.2 0.5 2.5 -1.0 2.7 1.3 1.8 -0.8 14

 Holding gains on assets less

15 liabilities at current cost (2) 27.5 26.0 62.2 62.1 40.5 91.9 0.2 -18.9 -18.4 25.9 15

16 Equipment and software 29.6 36.3 33.4 51.1 51.0 60.7 23.6 12.7 15.7 21.8 16

17 Inventories (3) -3.3 -5.4 8.2 10.4 0.7 8.0 -10.1 2.3 2.8 10.9 17

18 Direct investment abroad 2.9 6.5 30.8 8.3 -13.2 22.6 -13.9 -33.9 -35.2 -0.1 18

19 - Foreign direct investment in U.S. 1.8 11.3 10.2 7.8 -2.1 -0.5 -0.7 0.0 1.7 6.7 19

20 Other volume changes (4) 142.2 120.5 52.6 185.3 178.1 12.5 -4.5 -108.9 -39.9 37.4 20

 Memo:

21 Net worth outstanding (5) 4161.2 4309.5 4530.8 4848.7 4983.3 5024.3 4916.7 4649.2 4712.5 5087.4 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, 1985-1994, Z.1, December 9, 2004 99

R.103 Change in Net Worth of Nonfarm Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 114.9 161.1 93.4 125.5 111.5 50.6 -22.3 -56.9 74.4 176.1 1

 2 Net investment (2) -63.3 -30.1 -32.7 -29.3 -39.8 20.0 35.4 35.1 55.7 30.6 2

 3 Net physical investment 43.8 45.8 43.7 39.4 31.9 11.7 0.4 0.6 14.5 1.1 3

 4 Capital expenditures 111.4 118.4 121.3 122.3 121.0 104.7 95.5 94.8 110.6 106.1 4

 5 - Consumption of fixed capital 67.6 72.6 77.6 82.9 89.1 93.1 95.1 94.1 96.1 105.0 5

 6 Net acquisition of financial assets 30.7 25.0 -6.0 50.3 7.3 0.4 6.1 24.4 24.7 61.5 6

 - Net increase in liabilities from:

 7 Credit market instruments 99.2 88.0 70.3 95.4 46.6 -7.2 -32.7 -31.7 -20.5 8.0 7

 8 Trade payables 5.4 1.7 5.4 2.4 5.5 1.3 -0.3 6.9 0.7 6.5 8

 9 Taxes payable 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 9

10 Miscellaneous liabilities 29.8 9.6 -5.8 18.2 22.2 -2.6 3.6 14.0 5.1 16.1 10

11 Holding gains on real estate (3) 158.2 141.9 95.3 126.9 119.6 0.8 -71.1 -92.7 4.1 125.3 11

12 Residential 119.8 116.7 69.4 85.4 76.8 26.9 -6.3 -19.7 50.7 88.8 12

13 Nonresidential 38.4 25.2 25.8 41.5 42.8 -26.2 -64.7 -73.1 -46.5 36.6 13

14 Holding gains on assets at current cost (3) 21.5 27.6 26.3 34.0 33.5 25.7 12.4 3.4 15.5 17.0 14

15 Residential equipment and software 2.1 2.3 2.4 2.4 2.2 1.9 1.4 1.5 1.5 1.4 15

16 Nonresidential equipment and software 22.6 28.6 25.7 32.8 33.3 25.4 14.3 3.9 15.1 15.5 16

17 Inventories -0.2 -0.7 1.3 1.7 0.9 1.1 -0.8 0.3 0.4 1.2 17

18 Other volume changes (4) -64.9 -8.3 -28.2 -35.4 -41.6 24.2 36.4 32.4 54.8 33.7 18

 Memo:

19 Net worth outstanding (5) 1909.6 2070.8 2164.2 2289.7 2401.2 2451.9 2429.6 2372.7 2447.2 2623.2 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, 1985-1994, Z.1, December 9, 2004

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 1213.5 1289.2 1403.3 1502.1 1626.4 1708.0 1758.8 1843.7 1945.7 2088.9 1

 2 Personal current taxes 417.4 437.3 489.1 505.0 566.1 592.8 586.7 610.6 646.6 690.7 2

 3 Taxes on production and imports 308.5 323.7 347.9 374.9 399.3 425.5 457.5 483.8 503.4 545.6 3

 4 Taxes on corporate income 96.5 106.5 127.1 137.2 141.5 140.7 133.6 143.1 165.4 186.7 4

 5 Taxes from the rest of the world 1.9 1.7 2.1 2.4 2.8 3.0 2.6 2.7 2.7 3.2 5

 6 Contributions for govt. social insurance 281.4 303.4 323.1 361.5 385.3 410.1 430.2 455.0 477.7 508.2 6

 7 Income receipts on assets 84.0 89.8 86.2 90.5 94.3 98.7 98.1 90.5 87.5 86.5 7

 8 Current transfer receipts 23.0 25.6 26.8 28.2 32.2 35.6 44.6 50.5 55.1 59.5 8

 9 Current surplus of government enterprises 0.8 1.3 1.2 2.6 4.9 1.6 5.7 7.6 7.2 8.6 9

10 Current expenditures, NIPA basis 1366.2 1459.1 1535.8 1618.7 1735.6 1872.6 1976.7 2140.5 2218.3 2290.8 10

11 Consumption expenditures 720.2 776.1 815.2 852.8 901.4 964.4 1014.1 1047.9 1072.2 1104.1 11

12 Government social benefits 403.9 429.6 448.9 477.6 521.6 574.8 650.7 731.7 777.6 814.3 12

13 Other current transfer payments 11.8 12.3 10.8 11.2 11.5 11.3 -28.1 17.9 18.7 16.9 13

14 Interest payments 208.8 216.4 230.8 247.7 274.0 295.4 312.7 313.2 313.5 323.4 14

15 Subsidies 21.3 24.8 30.2 29.4 27.2 26.8 27.3 29.9 36.4 32.2 15

16 - Wage accruals less disbursements -0.2 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 0.0 0.0 16

17 Net government saving, NIPA basis -152.7 -169.9 -132.6 -116.5 -109.3 -164.6 -217.9 -296.8 -272.6 -201.9 17

18 + Consumption of fixed capital 92.8 99.5 106.7 114.1 122.2 130.9 139.1 144.6 151.8 158.6 18

19 - Insurance and pension fund reserves (2) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 19

20 + Net capital transfers (3) 8.9 10.0 10.6 11.1 12.2 8.5 10.5 15.7 17.0 19.1 20

21 = Gross saving and net capital transfers -53.2 -63.4 -17.2 6.5 23.1 -27.0 -70.8 -138.8 -105.6 -25.7 21

22 Gross investment -91.0 -94.3 -29.9 -52.4 -1.1 5.8 -87.7 -166.9 -149.1 8.7 22

23 Fixed investment 158.8 173.2 184.3 186.2 197.7 215.7 220.3 223.1 219.0 221.3 23

24 Nonproduced nonfinancial assets 1.9 0.7 3.7 4.2 4.2 5.0 6.0 6.2 6.1 6.4 24

25 Net financial investment -251.7 -268.3 -217.9 -242.8 -203.0 -214.9 -314.0 -396.1 -374.2 -219.1 25

26 Net acquisition of financial assets 110.8 33.3 27.6 35.9 75.4 74.3 94.9 1.7 -21.3 39.0 26

27 Gold, SDRs, and official foreign exchange 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 27

28 Checkable deposits and currency 14.1 2.9 -8.8 12.0 -13.8 3.6 33.9 -15.7 22.7 -19.9 28

29 Time and savings deposits 7.1 2.5 7.3 -2.2 -2.9 -2.9 -10.9 -6.8 -1.6 6.4 29

30 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 30

31 Security RPs 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 31

32 Credit market instruments 53.5 21.4 10.4 22.1 37.8 30.6 32.4 7.3 -19.9 7.5 32

33 Open market paper 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 33

34 Agency- and GSE-backed securities (4) 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 34

35 Municipal securities 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 35

36 Corporate and foreign bonds 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 36

37 Mortgages 11.6 12.3 3.4 2.9 5.6 40.8 18.9 -12.0 -20.8 -11.8 37

38 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.3 38

39 Other loans and advances (5) 7.7 7.7 -0.2 -5.1 -2.1 -2.8 -5.3 0.1 -7.8 -7.5 39

40 Corporate equities 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 40

41 Mutual fund shares 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 41

42 Trade receivables 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 42

43 Taxes receivable -1.6 1.4 -5.4 -2.7 -0.3 -5.2 -4.5 0.3 -8.4 -11.2 43

44 Miscellaneous assets 7.4 2.2 5.2 0.5 16.7 35.7 39.3 11.7 -34.7 58.6 44

45 Net increase in liabilities 362.4 301.6 245.5 278.7 278.5 289.2 408.9 397.9 352.9 258.1 45

46 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 46

47 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 47

48 Credit market instruments 288.4 231.7 194.8 205.8 191.9 251.7 338.2 338.4 284.8 187.3 48

49 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 49

50 Other Treasury securities (6) 127.9 145.0 92.7 122.6 131.7 188.8 255.1 302.0 204.1 225.5 50

51 Budget agency securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 51

52 Municipal securities 155.4 72.8 92.8 57.3 50.3 46.3 85.0 17.0 58.3 -46.4 52

53 Multifamily residential mortgages -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 53

54 Trade payables 32.0 35.4 28.1 28.8 30.7 17.6 16.7 20.2 28.5 27.4 54

55 Insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 55

56 Miscellaneous liabilities (7) 40.5 32.7 20.9 42.4 50.7 16.3 52.7 39.7 37.8 41.5 56

57 Discrepancy 37.7 30.9 12.7 58.9 24.2 -32.8 16.9 28.1 43.5 -34.4 57

 Memo:

58 Net govt. saving less fixed investment (8) -311.5 -343.2 -316.9 -302.7 -307.0 -380.4 -438.2 -519.8 -491.7 -423.2 58

59 Adjustment between NIPA and FOF (9) 59.8 74.9 99.0 59.9 103.9 165.4 124.2 123.7 117.5 204.2 59

60 Items to be financed (10) -251.7 -268.3 -217.9 -242.8 -203.0 -214.9 -314.0 -396.1 -374.2 -219.1 60

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

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

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

(3) Table F.9, line 1.

(4) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(5) Excludes loans to state and local governments.

(6) Excludes Treasury securities owed to state and local governments.

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

 retirement and disability fund.

(8) Line 17 less line 23.

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

(10) Line 57 plus line 58.
FFA, 1985-1994, Z.1, December 9, 2004 101

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 774.4 816.3 846.1 889.5 963.2 1042.0 1138.1 1139.3 1140.4 1185.8 1

 2 Gold, SDRs, and official foreign exchange 25.1 28.0 29.1 27.7 31.7 39.7 39.1 38.8 40.2 41.4 2

 3 Checkable deposits and currency 48.8 50.1 38.0 51.6 46.0 44.0 76.0 58.0 80.4 57.8 3

 4 Time and savings deposits 67.1 69.7 77.0 74.8 71.8 68.9 58.0 51.2 49.6 56.0 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 5

 6 Security RPs 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 6

 7 Credit market instruments 421.3 440.8 444.0 462.7 495.6 526.2 556.0 563.2 557.4 565.1 7

 8 Open market paper 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 8

 9 Agency- and GSE-backed securities (1) 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 9

10 Municipal securities 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 10

11 Corporate and foreign bonds 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 11

12 Mortgages 127.5 140.4 143.8 146.7 152.2 193.1 212.0 200.0 193.3 181.5 12

13 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.7 13

14 Other loans and advances (2) 171.1 176.4 168.9 160.3 153.3 150.5 142.6 142.7 134.9 127.5 14

15 Corporate equities 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 15

16 Mutual fund shares 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 16

17 Trade receivables 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 17

18 Taxes receivable 37.7 47.5 48.9 57.8 60.6 58.8 54.8 54.2 52.0 46.3 18

19 Miscellaneous assets 23.9 26.1 31.0 31.8 48.5 84.2 123.6 135.3 100.6 159.2 19

20 Total liabilities 2500.1 2799.5 3054.0 3340.4 3604.6 3910.9 4304.7 4702.6 5054.8 5309.0 20

21 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 21

22 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 22

23 Credit market instruments 1982.3 2215.0 2408.3 2626.7 2818.5 3070.2 3408.5 3746.8 4031.7 4218.9 23

24 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 24

25 Other Treasury securities (3) 1248.2 1393.2 1485.9 1608.5 1740.2 1929.0 2184.1 2486.1 2690.2 2915.6 25

26 Budget agency securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 26

27 Municipal securities 651.1 724.9 816.1 886.0 936.4 982.7 1067.6 1084.7 1143.0 1096.6 27

28 Multifamily residential mortgages 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Trade payables 309.8 345.2 373.3 402.1 432.8 450.4 467.2 487.3 515.8 543.2 29

30 Insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 30

31 Miscellaneous liabilities (4) 172.1 201.7 233.1 270.6 307.1 340.3 378.0 417.7 454.7 492.3 31

(1) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(2) Excludes loans to state and local governments.

(3) Excludes Treasury securities owed to state and local governments.

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

 retirement and disability fund.
102 FFA, 1985-1994, Z.1, December 9, 2004

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets ND -0.3 -6.0 22.3 23.9 -3.2 27.5 11.8 47.8 45.2 1

 2 Checkable deposits and currency ND -0.6 -0.2 1.9 -1.0 -0.5 -0.1 0.0 -0.0 0.8 2

 3 Time and savings deposits ND 8.7 1.1 -3.5 9.6 -5.5 5.5 -9.1 6.4 13.1 3

 4 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs ND 1.1 -0.1 1.6 0.3 -1.7 1.8 -1.1 -0.0 -4.2 5

 6 Credit market instruments ND -6.9 2.5 28.3 41.6 32.0 12.8 17.1 22.9 35.6 6

 7 Open market paper ND 3.6 5.1 -3.9 -2.5 -1.7 1.8 -1.1 -0.0 -4.2 7

 8 Treasury securities ND -8.2 -5.7 1.7 7.9 0.6 -8.9 -11.0 -5.6 10.1 8

 9 Agency- and GSE-backed securities ND -4.4 7.6 13.5 21.8 20.5 12.8 11.5 15.9 30.7 9

10 Corporate and foreign bonds ND 3.3 -1.3 11.2 8.8 11.2 13.8 20.8 14.0 2.7 10

11 Mortgages ND -1.2 -3.3 5.9 5.6 1.5 -6.8 -3.1 -1.4 -3.7 11

12 Corporate equities ND -9.5 -7.7 -0.4 -22.4 0.2 2.0 8.7 6.8 -3.8 12

13 Mutual fund shares ND 0.9 0.9 -0.6 0.0 0.4 1.4 2.3 4.4 3.7 13

14 Miscellaneous assets ND 6.0 -2.4 -5.1 -4.2 -28.0 4.1 -6.1 7.3 0.1 14

15 Unallocated insurance contracts (1) ND 3.4 4.9 -15.2 -1.9 -6.2 -2.2 -5.0 -0.6 -5.1 15

16 Contributions receivable ND -0.1 -1.5 -0.3 4.4 2.8 8.2 5.6 7.4 6.2 16

17 Other ND 2.7 -5.8 10.4 -6.8 -24.6 -1.9 -6.7 0.6 -1.0 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 24.9 41.0 45.1 36.5 29.4 63.2 52.4 51.4 40.4 1

 2 Checkable deposits and currency ND -0.8 -0.0 0.9 0.6 -0.3 -0.3 -0.1 0.2 0.1 2

 3 Time and savings deposits ND 1.8 -11.9 14.4 17.9 1.3 0.1 -8.0 -9.9 -6.3 3

 4 Money market fund shares ND 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 4

 5 Security RPs ND 0.6 -0.3 0.6 1.8 0.4 1.9 1.3 0.9 -2.0 5

 6 Credit market instruments ND 11.5 11.1 -6.4 10.1 11.5 12.6 8.8 13.3 4.1 6

 7 Open market paper ND 0.7 2.1 -2.2 1.8 1.3 1.4 0.9 0.7 -2.0 7

 8 Treasury securities ND -7.5 5.9 -2.0 1.8 -0.6 3.6 2.6 1.2 6.7 8

 9 Agency- and GSE-backed securities ND -3.5 5.5 0.9 2.0 2.1 0.0 -0.9 -1.8 10.2 9

10 Corporate and foreign bonds ND 23.4 -2.6 -5.7 3.4 8.6 7.4 6.9 13.2 -9.3 10

11 Mortgages ND -1.6 0.3 2.6 1.0 0.1 0.1 -0.6 -0.2 -1.4 11

12 Corporate equities ND -3.4 7.8 7.2 -11.5 0.4 10.8 27.6 13.4 4.1 12

13 Mutual fund shares ND 0.9 1.3 0.1 5.1 6.2 9.8 13.0 22.4 20.1 13

14 Miscellaneous assets ND 12.5 31.2 26.2 9.7 9.9 27.3 8.8 4.6 15.0 14

15 Unallocated insurance contracts (2) ND 10.6 28.6 17.0 14.2 15.9 23.0 10.6 12.9 8.9 15

16 Contributions receivable ND 0.1 3.0 -0.9 2.8 3.2 3.9 4.4 4.9 5.5 16

17 Other ND 1.8 -0.5 10.1 -7.3 -9.2 0.4 -6.2 -13.2 0.6 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: 64.2 66.6 71.6 50.4 56.9 89.6 67.4 58.5 49.1 53.0 1

 2 Commercial banking 16.0 12.6 10.6 11.1 15.6 21.6 16.6 -0.5 -2.9 -1.1 2

 3 Saving institutions 16.2 13.3 9.4 12.0 7.3 -2.6 -3.8 -8.3 -9.1 -6.3 3

 4 Credit unions 4.2 5.9 2.9 1.5 1.9 3.2 3.6 0.9 -0.3 -0.0 4

 5 Life insurance companies 7.8 5.6 7.9 8.0 -1.3 4.4 7.1 4.9 12.6 13.2 5

 6 Money market mutual funds 1.4 2.0 5.0 5.0 9.0 11.9 -0.1 3.0 5.0 13.7 6

 7 Mutual funds 11.4 19.0 15.5 8.0 10.6 10.4 40.7 38.0 59.6 11.5 7

 8 Other self-directed accounts 7.2 8.1 20.2 4.8 13.9 40.7 3.3 20.5 -15.7 22.1 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, 1985-1994, Z.1, December 9, 2004 103

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 795.4 816.0 803.3 812.8 921.5 899.9 1051.7 1079.9 1195.1 1276.0 1

 2 Checkable deposits and currency 1.4 0.8 0.6 2.5 1.6 1.0 1.0 1.0 1.0 1.8 2

 3 Time and savings deposits 41.0 49.6 50.7 47.3 56.9 51.3 56.8 47.6 54.1 67.1 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 13.9 15.0 14.9 16.5 16.8 15.0 16.9 15.8 15.8 11.6 5

 6 Credit market instruments 252.4 245.6 248.0 276.4 318.0 349.9 362.7 379.8 402.7 438.3 6

 7 Open market paper 14.4 18.0 23.1 19.2 16.8 15.0 16.9 15.8 15.8 11.6 7

 8 Treasury securities 97.4 89.2 83.5 85.1 93.0 93.6 84.7 73.7 68.1 78.2 8

 9 Agency- and GSE-backed securities 52.5 48.0 55.7 69.2 91.0 111.5 124.3 135.8 151.7 182.4 9

10 Corporate and foreign bonds 77.0 80.3 79.0 90.2 99.0 110.1 123.9 144.7 158.7 161.4 10

11 Mortgages 11.2 10.1 6.8 12.6 18.2 19.7 13.0 9.9 8.5 4.7 11

12 Corporate equities 335.9 348.2 322.3 300.6 358.9 341.4 458.6 484.5 555.6 559.9 12

13 Mutual fund shares 5.9 4.8 7.9 6.5 6.8 6.8 11.4 15.6 22.3 39.0 13

14 Miscellaneous assets 144.9 152.0 158.8 163.0 162.7 134.3 144.3 135.5 143.5 158.2 14

15 Unallocated insurance contracts (1) 81.8 85.6 91.8 78.2 80.1 73.6 77.3 69.6 69.7 79.2 15

16 Contributions receivable 11.6 11.5 10.0 9.7 14.1 16.9 25.1 30.7 38.0 44.2 16

17 Other 51.5 54.9 57.1 75.2 68.4 43.8 41.9 35.2 35.8 34.8 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 430.9 468.0 548.3 592.0 707.9 726.9 877.0 956.1 1087.9 1157.9 1

 2 Checkable deposits and currency 1.9 1.1 1.1 2.0 2.6 2.3 2.0 2.0 2.2 2.3 2

 3 Time and savings deposits 35.6 37.4 25.5 39.9 57.8 59.1 59.2 51.1 41.3 35.0 3

 4 Money market fund shares 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 4

 5 Security RPs 5.3 5.9 5.6 6.2 8.1 8.5 10.4 11.6 12.6 10.6 5

 6 Credit market instruments 76.5 88.0 99.1 92.7 102.8 114.3 126.9 135.8 149.0 153.1 6

 7 Open market paper 7.6 8.3 10.4 8.2 10.0 11.3 12.7 13.6 14.3 12.3 7

 8 Treasury securities 31.1 23.6 29.5 27.6 29.4 28.8 32.4 35.0 36.3 43.0 8

 9 Agency- and GSE-backed securities 14.7 11.1 16.6 17.5 19.5 21.6 21.7 20.7 18.9 29.1 9

10 Corporate and foreign bonds 20.3 43.7 41.1 35.4 38.8 47.4 54.8 61.8 75.0 65.7 10

11 Mortgages 2.8 1.2 1.4 4.0 5.1 5.2 5.3 4.7 4.5 3.1 11

12 Corporate equities 179.8 175.3 210.3 214.6 276.6 264.5 347.6 389.2 458.7 453.8 12

13 Mutual fund shares 5.2 7.3 11.9 16.9 26.2 33.7 55.0 80.6 119.9 166.9 13

14 Miscellaneous assets 117.6 142.2 181.9 204.8 216.1 226.8 257.1 266.1 278.0 304.7 14

15 Unallocated insurance contracts (2) 49.9 61.3 94.5 108.7 124.6 141.2 167.2 178.0 198.2 218.7 15

16 Contributions receivable 7.1 7.2 10.2 9.3 12.2 15.4 19.3 23.7 28.6 34.1 16

17 Other 60.5 73.7 77.1 86.7 79.4 70.2 70.6 64.4 51.3 51.9 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: 241.0 329.0 404.0 468.0 546.0 637.0 776.0 873.0 993.0 1056.0 1

 2 Commercial banking 61.0 73.6 84.3 95.4 111.0 132.6 149.2 148.6 145.8 144.7 2

 3 Saving institutions 66.9 80.2 89.6 101.6 108.9 106.3 102.5 94.2 85.1 78.9 3

 4 Credit unions 12.1 18.1 21.0 22.4 24.3 27.5 31.1 32.1 31.8 31.8 4

 5 Life insurance companies 17.0 22.7 30.1 38.9 37.9 42.0 49.7 55.6 69.5 78.7 5

 6 Money market mutual funds 7.0 9.0 13.9 18.9 27.8 39.7 39.6 42.6 47.6 61.3 6

 7 Mutual funds 25.8 47.7 62.5 73.4 93.0 97.9 143.0 187.0 263.7 275.4 7

 8 Other self-directed accounts 51.2 77.8 102.7 117.5 143.1 191.0 260.9 312.9 349.6 385.3 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, 1985-1994, Z.1, December 9, 2004

B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 16508.8 18226.7 19474.5 21300.5 23351.6 23957.7 25761.9 26920.1 28448.3 29424.3 1

 2 Tangible assets 6500.2 7096.7 7656.2 8308.3 8963.6 9164.3 9431.9 9780.4 10096.1 10416.8 2

 3 Financial assets 10008.6 11129.9 11818.2 12992.2 14388.0 14793.4 16330.0 17139.7 18352.2 19007.5 3

 4 Deposits 2484.0 2720.9 2864.5 3055.0 3211.7 3259.1 3253.0 3219.4 3155.8 3109.3 4

 5 Credit market instruments 849.5 866.2 1027.6 1228.5 1316.1 1555.3 1633.7 1675.0 1650.8 1946.1 5

 6 Equity shares at market value 2005.8 2355.9 2380.9 2706.5 3355.0 3124.3 4347.7 4887.3 5683.8 5680.2 6

 7 Directly held 1058.1 1330.3 1306.2 1585.0 1939.8 1770.1 2517.3 2857.1 3223.5 3081.6 7

 8 Indirectly held 947.6 1025.6 1074.7 1121.4 1415.2 1354.2 1830.5 2030.1 2460.3 2598.6 8

 9 Bank personal trusts and estates 181.8 183.1 176.1 189.1 231.9 214.1 271.7 268.7 262.0 263.6 9

10 Life insurance companies 33.3 38.3 44.0 45.7 59.3 57.8 93.8 113.3 163.5 199.6 10

11 Private pension funds 520.9 528.1 540.2 524.0 649.5 622.3 839.9 928.4 1096.1 1135.9 11

12 Defined benefit plans 338.6 350.1 325.3 303.1 361.8 344.0 463.2 490.8 565.5 578.6 12

13 Defined contribution plans 182.2 178.0 214.9 220.9 287.7 278.3 376.8 437.5 530.6 557.3 13

14 State and local govt. retirement funds 120.1 150.2 170.1 212.6 277.8 284.6 395.0 431.7 506.2 521.7 14

15 Federal government retirement funds 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 15

16 Mutual funds 91.5 125.9 144.4 150.0 196.7 175.1 229.0 285.7 428.0 471.6 16

17 Other 4669.4 5186.9 5545.3 6002.2 6505.2 6854.8 7095.5 7358.0 7861.7 8271.9 17

18 Liabilities 2367.7 2633.5 2840.4 3139.9 3450.1 3719.3 3934.3 4139.9 4408.0 4735.4 18

19 Net worth 14141.1 15593.1 16634.0 18160.5 19901.5 20238.4 21827.6 22780.2 24040.3 24688.8 19

 Memo:

20 Equity shares excluding defined benefit plans 1547.0 1855.6 1885.5 2190.7 2715.4 2495.7 3489.6 3964.8 4612.1 4579.9 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) 12.1 12.9 12.2 12.7 14.4 13.0 16.9 18.2 20.0 19.3 21

22 Financial assets (line 3) 20.0 21.2 20.1 20.8 23.3 21.1 26.6 28.5 31.0 29.9 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.