March 6, 2008

Flow of Funds Accounts 

of the United States 

Annual Flows and Outstandings

2005-2007

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 

Property-Casualty Insurance Companies F.116 21 L.116 66 

Life Insurance Companies F.117 22 L.117 67 

Private Pension Funds F.118 22 L.118 67 

State and Local Government Employee Retirement Funds F.119 23 L.119 68 

Federal Government Retirement Funds F.120 23 L.120 68 

Money Market Mutual Funds F.121 24 L.121 69 

Mutual Funds F.122 24 L.122 69 

Closed-End and Exchange-Traded Funds F.123 24 L.123 69 

Government-Sponsored Enterprises F.124 25 L.124 70

Agency- and GSE-backed Mortgage Pools F.125 25 L.125 70 

Issuers of Asset-Backed Securities F.126 26 L.126 71 

Finance Companies F.127 26 L.127 71 

Real Estate Investment Trusts F.128 27 L.128 72 

Security Brokers and Dealers F.129 28 L.129 73 

Funding Corporations F.130 28 L.130 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 

Proprietors' Equity in Noncorporate Business F.227 44 L.227 89 

Total Miscellaneous Financial Claims F.228 45 L.228 90 

 Identified Miscellaneous Financial Claims - Part I F.229 46 L.229 91 

 Identified Miscellaneous Financial Claims - Part II F.230 47 L.230 92 

Unidentified Miscellaneous Financial Claims F.231 48 L.231 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 Organizations 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.118.b 102 L.118.b 103 

Private Pension Funds: Defined Contribution Plans F.118.c 102 L.118.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, 2005-2007, March 6, 2008 1

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

Billions of dollars

2005 2006 2007

 

 1 Total net borrowing 3413.4 3863.5 4011.1 1

 2 Domestic nonfinancial sectors 2244.8 2319.6 2344.1 2

 3 Household sector 1178.7 1194.2 877.1 3

 4 Nonfinancial corporate business 243.4 425.7 627.4 4

 5 Nonfarm noncorporate business 331.6 346.8 403.2 5

 6 Farm business 12.7 18.4 15.1 6

 7 State and local governments 171.6 151.2 184.2 7

 8 Federal government 306.9 183.4 237.1 8

 9 Rest of the world 102.8 250.4 97.8 9

10 Financial sectors 1065.8 1293.6 1569.3 10

11 Commercial banking 85.1 177.4 259.0 11

12 U.S.-chartered commercial banks 36.9 107.5 131.7 12

13 Foreign banking offices in U.S. 0.0 -0.3 0.0 13

14 Bank holding companies 48.2 70.2 127.2 14

15 Savings institutions 23.8 -111.9 103.1 15

16 Credit unions 3.3 4.2 13.5 16

17 Life insurance companies 0.4 2.7 14.5 17

18 Government-sponsored enterprises -84.0 35.6 282.1 18

19 Agency- and GSE-backed mortgage pools 167.3 295.4 605.8 19

20 ABS issuers 670.0 772.4 176.9 20

21 Finance companies 33.5 34.8 30.0 21

22 REITs 59.8 41.1 -4.5 22

23 Brokers and dealers 0.1 6.4 -4.0 23

24 Funding corporations 106.5 35.4 92.9 24

25 Total net lending 3413.4 3863.5 4011.1 25

26 Domestic nonfinancial sectors 252.4 283.2 388.5 26

27 Household sector 77.3 167.5 340.7 27

28 Nonfinancial corporate business 42.3 14.8 -23.0 28

29 Nonfarm noncorporate business 11.4 12.3 12.1 29

30 State and local governments 124.1 84.6 48.2 30

31 Federal government -2.7 4.0 10.4 31

32 Rest of the world 780.6 856.8 791.6 32

33 Financial sectors 2380.3 2723.5 2831.0 33

34 Monetary authority 26.4 34.7 -38.3 34

35 Commercial banking 658.4 761.7 750.3 35

36 U.S.-chartered commercial banks 507.9 656.3 527.4 36

37 Foreign banking offices in U.S. 144.5 103.7 201.7 37

38 Bank holding companies -4.2 3.3 23.1 38

39 Banks in U.S.-affiliated areas 10.2 -1.7 -1.9 39

40 Savings institutions 199.3 -98.1 65.8 40

41 Credit unions 36.2 30.1 36.7 41

42 Property-casualty insurance companies 66.9 47.7 38.1 42

43 Life insurance companies 110.3 75.6 101.8 43

44 Private pension funds 44.5 14.0 34.7 44

45 State and local govt. retirement funds 18.1 76.3 26.1 45

46 Federal government retirement funds 7.7 8.4 11.7 46

47 Money market mutual funds -5.5 220.0 390.6 47

48 Mutual funds 124.1 184.9 262.5 48

49 Closed-end funds 1.5 6.7 0.2 49

50 Exchange-traded funds 6.8 5.7 13.0 50

51 Government-sponsored enterprises -69.1 46.6 240.9 51

52 Agency- and GSE-backed mortgage pools 167.3 295.4 605.8 52

53 ABS issuers 673.5 727.7 244.2 53

54 Finance companies 117.2 89.7 6.2 54

55 REITs 66.9 57.5 -65.7 55

56 Brokers and dealers 82.3 106.2 231.9 56

57 Funding corporations 47.5 32.8 -125.6 57

(1) Excludes corporate equities and mutual fund shares.
2 FFA, 2005-2007, March 6, 2008

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

2005 2006 2007

 

 1 Domestic 2244.8 2319.6 2344.1 1

 2 By instrument 2244.8 2319.6 2344.1 2

 3 Commercial paper -7.9 23.4 10.5 3

 4 Treasury securities 307.3 183.7 237.5 4

 5 Agency- and GSE-backed securities -0.4 -0.3 -0.4 5

 6 Municipal securities 195.0 177.3 214.6 6

 7 Corporate bonds 53.6 213.4 314.1 7

 8 Bank loans n.e.c. 137.6 173.4 263.3 8

 9 Other loans and advances 47.7 47.3 119.0 9

10 Mortgages 1417.5 1397.1 1053.2 10

11 Home 1103.7 1069.7 691.8 11

12 Multifamily residential 71.7 52.1 94.1 12

13 Commercial 237.4 267.7 258.8 13

14 Farm 4.6 7.5 8.5 14

15 Consumer credit 94.5 104.4 132.3 15

16 By sector 2244.8 2319.6 2344.1 16

17 Household sector 1178.7 1194.2 877.1 17

18 Nonfinancial business 587.7 790.8 1045.7 18

19 Corporate 243.4 425.7 627.4 19

20 Nonfarm noncorporate 331.6 346.8 403.2 20

21 Farm 12.7 18.4 15.1 21

22 State and local governments 171.6 151.2 184.2 22

23 Federal government 306.9 183.4 237.1 23

24 Foreign borrowing in U.S. 102.8 250.4 97.8 24

25 Commercial paper 38.5 93.1 -66.0 25

26 Bonds 54.5 150.9 141.9 26

27 Bank loans n.e.c. 14.5 13.8 24.2 27

28 Other loans and advances -4.6 -7.4 -2.3 28

29 Domestic and foreign 2347.7 2569.9 2441.9 29

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument 1065.8 1293.6 1569.3 1

 2 Open market paper 214.5 200.7 -113.9 2

 3 GSE issues -84.0 35.6 282.1 3

 4 Agency- and GSE-backed mortgage pool sec. 167.3 295.4 605.8 4

 5 Corporate bonds 692.8 797.8 506.0 5

 6 Bank loans n.e.c. 17.0 -64.1 54.3 6

 7 Other loans and advances 44.4 21.2 231.4 7

 8 Mortgages 13.9 7.0 3.6 8

 9 By sector 1065.8 1293.6 1569.3 9

10 Commercial banking 85.1 177.4 259.0 10

11 U.S.-chartered commercial banks 36.9 107.5 131.7 11

12 Foreign banking offices in U.S. 0.0 -0.3 0.0 12

13 Bank holding companies 48.2 70.2 127.2 13

14 Savings institutions 23.8 -111.9 103.1 14

15 Credit unions 3.3 4.2 13.5 15

16 Life insurance companies 0.4 2.7 14.5 16

17 Government-sponsored enterprises -84.0 35.6 282.1 17

18 Agency- and GSE-backed mortgage pools 167.3 295.4 605.8 18

19 ABS issuers 670.0 772.4 176.9 19

20 Finance companies 33.5 34.8 30.0 20

21 REITs 59.8 41.1 -4.5 21

22 Brokers and dealers 0.1 6.4 -4.0 22

23 Funding corporations 106.5 35.4 92.9 23
FFA, 2005-2007, March 6, 2008 3

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

Billions of dollars

2005 2006 2007

 

 1 Total 3413.4 3863.5 4011.1 1

 2 Open market paper 245.1 317.1 -169.4 2

 3 Treasury securities 307.3 183.7 237.5 3

 4 Agency- and GSE-backed securities 82.8 330.6 887.6 4

 5 Municipal securities 195.0 177.3 214.6 5

 6 Corporate and foreign bonds 800.9 1162.1 961.9 6

 7 Bank loans n.e.c. 169.1 123.1 341.8 7

 8 Other loans and advances 87.4 61.1 348.2 8

 9 Mortgages 1431.4 1404.1 1056.7 9

10 Consumer credit 94.5 104.4 132.3 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

11 Total net issues 110.9 -80.4 -199.3 11

12 Corporate equities -149.3 -417.2 -567.1 12

13 Nonfinancial -363.4 -614.1 -836.6 13

 Foreign shares purchased by

14 U.S. residents 142.6 138.5 110.2 14

15 Financial 71.5 58.4 159.3 15

16 Mutual fund shares 260.2 336.8 367.9 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) 3413.4 3863.5 4011.1 1

 2 Official foreign exchange -9.6 -2.6 0.0 2

 3 SDR certificates 0.0 0.0 0.0 3

 4 Treasury currency 0.8 0.6 0.7 4

 5 Foreign deposits 67.8 98.8 265.9 5

 6 Net interbank transactions -12.4 -11.2 -53.2 6

 7 Checkable deposits and currency 3.5 -18.7 25.5 7

 8 Small time and savings deposits 314.4 347.0 286.8 8

 9 Large time deposits 284.4 261.2 321.3 9

10 Money market fund shares 127.0 305.3 741.0 10

11 Security RPs 350.8 496.0 77.5 11

12 Corporate equities -149.3 -417.2 -567.1 12

13 Mutual fund shares 260.2 336.8 367.9 13

14 Trade payables 336.6 166.5 175.1 14

15 Security credit 0.2 211.5 264.0 15

16 Life insurance reserves 16.1 65.6 27.4 16

17 Pension fund reserves 238.3 198.2 124.4 17

18 Taxes payable 28.1 19.9 24.0 18

19 Noncorporate proprietors’ equity -137.8 -51.5 -57.1 19

20 Miscellaneous 1389.1 1133.1 1780.8 20

21 Total financial sources 6521.6 7002.9 7816.1 21

 - Liabilities not identified as assets:

22 Treasury currency 0.7 -1.1 0.1 22

23 Foreign deposits 40.6 99.8 206.1 23

24 Net interbank liabilities -3.7 -1.9 1.7 24

25 Security RPs 134.2 298.0 -229.9 25

26 Taxes payable -18.1 1.9 -31.4 26

27 Miscellaneous 208.4 -304.2 183.1 27

 - Floats not included in assets:

28 Checkable deposits: Federal govt. -6.6 -3.0 1.2 28

29 Other -0.9 -0.5 -1.0 29

30 Trade credit -32.6 -61.6 42.8 30

 Totals identified to sectors

31 as assets 6199.6 6975.6 7643.5 31
4 FFA, 2005-2007, March 6, 2008

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

2005 2006 2007

 

 1 Gross Domestic Product (GDP) 12433.9 13194.7 13843.8 1

 2 Personal consumption expenditures (2) 8707.8 9224.5 9732.7 2

 3 Durable goods 1023.9 1048.9 1078.4 3

 4 Nondurable goods 2516.2 2688.0 2833.5 4

 5 Services 5167.8 5487.6 5820.8 5

 6 Gross private domestic investment 2077.2 2209.2 2129.1 6

 7 Fixed investment 2040.3 2162.5 2123.5 7

 8 Nonresidential 1272.1 1397.7 1482.7 8

 9 Household sector (nonprofit organizations) 101.8 109.8 117.3 9

10 Nonfinancial corporate business 885.1 980.3 1040.9 10

11 Nonfarm noncorporate business 121.9 151.5 159.3 11

12 Farm business 33.3 32.9 32.8 12

13 Financial corporations 130.1 123.3 132.4 13

14 Residential 768.2 764.8 640.8 14

15 Household sector 661.7 639.8 519.4 15

16 Nonfinancial corporate business 4.7 5.0 4.3 16

17 Nonfarm noncorporate business 102.5 115.9 129.2 17

18 REITs -0.6 4.1 -12.0 18

19 Change in private inventories 36.9 46.6 5.6 19

20 Nonfinancial corporate business 35.5 45.4 2.0 20

21 Nonfarm noncorporate business 1.9 2.4 0.1 21

22 Farm business -0.5 -1.2 3.5 22

23 Net U.S. exports of goods and services -714.6 -762.0 -708.6 23

24 Exports 1309.4 1467.6 1641.4 24

25 - Imports 2023.9 2229.6 2350.0 25

 Government consumption expenditures and

26 gross investment 2363.4 2523.0 2690.6 26

27 Consumption expenditures (3) 1965.7 2089.3 2222.2 27

28 Federal 768.5 812.8 856.0 28

29 State and local 1197.2 1276.5 1366.2 29

30 Gross investment (3) 397.8 433.8 468.4 30

31 Federal 109.9 119.7 120.1 31

32 State and local 287.8 314.0 348.3 32

 Memo:

33 Net U.S. income receipts from rest of the world 68.5 58.0 84.8 33

34 U.S. income receipts 544.1 691.4 831.4 34

35 - U.S. income payments 475.5 633.4 746.6 35

 Gross National Product (GNP) =

36 GDP + net U.S. income receipts 12502.4 13252.7 13928.6 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, 2005-2007, March 6, 2008 5

F.7 Distribution of National Income (1)

Billions of dollars

2005 2006 2007

 

 1 National Income 10887.6 11655.6 12221.7 1

 2 Compensation of employees 7029.6 7448.3 7866.1 2

 3 Wages and other labor income 6595.5 6988.9 7368.2 3

 4 Employer social insurance contributions 429.1 451.8 475.3 4

 5 Wage accruals less disbursements 5.0 7.5 22.5 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments 969.9 1006.7 1042.3 6

 7 Nonfarm 939.1 987.4 1006.1 7

 8 Farm 30.8 19.4 36.2 8

 Rental income of persons (with capital

 9 consumption adjustment) 42.9 54.5 64.6 9

 Corporate profits with inventory

10 valuation and capital consumption adjustments 1372.8 1553.7 1604.0 10

 Corporate profits with inventory

11 valuation adjustment 1543.4 1769.5 1839.5 11

12 Profits before tax 1579.6 1805.8 1877.1 12

13 Domestic nonfinancial 935.5 1040.6 1036.8 13

14 Farm 2.3 2.7 3.2 14

15 Rest of the world 218.2 257.3 326.0 15

16 Domestic financial 423.6 505.3 511.1 16

 Less:

17 Taxes on corporate income 392.9 453.9 470.4 17

18 Domestic nonfinancial 262.7 287.4 311.0 18

19 Farm 0.7 0.8 0.9 19

20 Domestic financial 129.5 165.7 158.5 20

 Equals:

21 Profits after tax 1186.7 1351.9 1406.6 21

22 Net dividends 601.4 698.9 795.2 22

23 Domestic nonfinancial 196.4 445.4 491.0 23

24 Farm 2.7 3.2 3.6 24

25 Rest of the world 255.8 75.8 135.4 25

26 Domestic financial 146.3 174.5 165.2 26

27 Undistributed profits 585.4 653.0 611.5 27

28 Domestic nonfinancial 476.4 307.7 234.7 28

29 Farm -1.2 -1.3 -1.3 29

30 Rest of the world -37.7 181.5 190.6 30

31 Domestic financial 147.8 165.1 187.4 31

32 Inventory valuation adjustment -36.2 -36.3 -37.6 32

33 Capital consumption adjustment -170.6 -215.8 -235.4 33

34 Domestic nonfinancial -152.5 -192.7 -210.3 34

35 Farm 0.0 0.0 0.0 35

36 Domestic financial -18.1 -23.1 -25.1 36

37 Net interest and miscellaneous payments 558.0 598.5 603.2 37

38 Taxes on production and imports 921.6 967.3 1008.9 38

39 Less: Subsidies 58.5 49.7 47.1 39

40 Business current transfer payments (net) 66.5 90.2 94.2 40

41 Current surplus of government enterprises -15.1 -13.9 -14.5 41

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

42 National Income, from line 1 above 10887.6 11655.6 12221.7 42

 Plus:

43 Private consumption of fixed capital 1357.0 1347.5 1398.9 43

44 Government consumption of fixed capital 252.4 267.7 287.9 44

45 Statistical discrepancy 5.4 -18.1 12.4 45

 Less:

46 Net U.S. income receipts from rest of the world 68.5 58.0 84.8 46

 Equals:

47 Gross Domestic Product 12433.9 13194.7 13843.8 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, 2005-2007, March 6, 2008

F.8 Saving and Investment (1)

Billions of dollars

2005 2006 2007

 

 1 Gross saving 1734.6 1866.9 1861.8 1

 2 Net saving 125.1 251.7 175.0 2

 3 Net private saving 428.2 447.2 403.7 3

 4 Personal saving 44.6 38.8 42.7 4

 5 Undistributed corporate profits w/IVA & CCA 378.6 400.9 338.5 5

 6 Undistributed profits 585.4 653.0 611.5 6

 7 Inventory valuation adjustment -36.2 -36.3 -37.6 7

 8 Capital consumption adjustment -170.6 -215.8 -235.4 8

 9 Wage accruals less disbursements 5.0 7.5 22.5 9

10 Net government saving -303.1 -195.4 -228.7 10

11 Federal -318.3 -220.1 -219.7 11

12 State and local 15.2 24.6 -9.0 12

13 Consumption of fixed captal 1609.5 1615.2 1686.8 13

14 Private 1357.0 1347.5 1398.9 14

15 Domestic business 1060.4 1081.4 1119.2 15

16 Households and institutions 296.6 266.1 279.6 16

17 Government 252.4 267.7 287.9 17

18 Federal 99.0 105.4 110.4 18

19 State and local 153.4 162.3 177.5 19

 Gross domestic investment, capital account

20 transactions, and net lending, NIPAs 1739.9 1848.8 1874.2 20

21 Gross domestic investment 2475.0 2642.9 2597.5 21

22 Gross private domestic investment 2077.2 2209.2 2129.1 22

23 Fixed investment 2040.3 2162.5 2123.5 23

24 Nonresidential 1272.1 1397.7 1482.7 24

25 Residential 768.2 764.8 640.8 25

26 Change in private inventories 36.9 46.6 5.6 26

27 Gross government investment 397.8 433.8 468.4 27

28 Capital account transactions (net) 4.1 3.9 1.6 28

29 Net lending or net borrowing (-), NIPAs -739.1 -798.0 -724.9 29

30 Statistical discrepancy (line 20 less line 1) 5.4 -18.1 12.4 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) 12.1 14.6 1.5 1

 2 Federal -42.1 -42.3 -56.5 2

 3 Estate and gift taxes paid by persons 25.0 27.8 26.1 3

 4 - Capital transfers paid to persons 15.9 16.4 29.1 4

 5 - Capital transfers paid to the rest of the world (net) 2.3 1.7 0.0 5

 6 - Federal investment grants to state and local govts. 48.8 52.1 53.5 6

 7 - Investment grants to business 0.0 0.0 0.0 7

 8 State and local 54.1 56.9 58.0 8

 9 Estate and gift taxes paid by persons 5.3 4.8 4.5 9

10 + Federal investment grants to state and local govts. 48.8 52.1 53.5 10

11 Capital transfers received by rest of the world (net) 4.1 3.8 2.0 11

12 Capital transfers received from U.S. government (net) 2.3 1.7 0.0 12

13 - Migrants’ transfers received by persons (net) -1.8 -2.1 -2.0 13

 Memo:

 Acquisition of nonproduced nonfinancial assets (net)

14 Nonfinancial corporate business -10.2 2.2 -11.0 14

15 State and local governments 10.6 11.2 11.4 15

16 Federal governments -0.5 -13.3 -0.8 16

17 Rest of the world 0.1 -0.1 0.4 17

(1) This table is based on NIPA table 5.10 in the Survey of Current Business, Department of Commerce.
FFA, 2005-2007, March 6, 2008 7

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

Billions of dollars

2005 2006 2007

 

 1 Net acquisition of financial assets 908.9 969.0 1092.1 1

 2 Foreign deposits 4.1 5.9 19.0 2

 3 Checkable deposits and currency -73.2 -17.9 -23.3 3

 4 Time and savings deposits 503.7 552.1 510.0 4

 5 Money market fund shares 50.0 174.6 243.7 5

 6 Securities -162.4 -352.1 -339.9 6

 7 Open market paper 28.1 23.4 -28.0 7

 8 U.S. savings bonds 0.7 -2.7 -6.0 8

 9 Other Treasury securities -90.5 -58.7 -169.4 9

10 Agency- and GSE-backed securities 84.3 -28.8 428.3 10

11 Municipal securities 78.8 45.2 50.7 11

12 Corporate and foreign bonds -24.9 193.9 66.0 12

13 Corporate equities (2) -467.4 -761.0 -988.6 13

14 Mutual fund shares 228.5 236.7 307.1 14

15 Life insurance reserves 16.1 65.6 27.4 15

16 Pension fund reserves 238.3 198.2 124.4 16

17 Miscellaneous and other assets 332.3 342.5 530.7 17

18 Gross investment in tangible assets 1961.7 2009.7 1945.8 18

19 Residential fixed investment 764.2 755.7 648.6 19

20 Other fixed assets (3) 256.9 294.1 309.4 20

21 Consumer durables 939.3 958.7 984.3 21

22 Inventories (3) 1.4 1.2 3.6 22

23 Consumption of fixed capital 1274.1 1258.7 1289.2 23

24 Residential fixed investment 340.7 257.8 271.2 24

25 Other fixed assets (3) 195.8 233.3 244.9 25

26 Consumer durables 737.5 767.6 773.2 26

27 Net investment in tangible assets (4) 687.6 751.0 656.6 27

28 Residential fixed investment 423.5 497.9 377.4 28

29 Other fixed assets (3) 61.1 60.8 64.5 29

30 Consumer durables 201.7 191.1 211.1 30

31 Inventories (3) 1.4 1.2 3.6 31

32 Net increase in liabilities 1702.4 1699.2 1418.9 32

33 Mortgage debt on nonfarm homes 1096.1 1061.5 689.7 33

34 Other mortgage debt (3) 134.7 229.0 265.8 34

35 Consumer credit 94.5 104.4 132.3 35

36 Policy loans 0.8 3.3 4.9 36

37 Security credit -31.6 59.7 32.8 37

38 Other liabilities (3) 408.0 241.4 293.4 38

39 Net capital transfers (5) -16.2 -18.4 -3.5 39

40 Personal saving, with consumer durables (FOF) -89.7 39.2 333.3 40

41 Less net investment in consumer durables 201.7 191.1 211.1 41

42 = Personal saving, without consumer durables (FOF) (6) -291.4 -151.9 122.2 42

43 Personal saving (NIPA, excludes consumer durables) 44.6 38.8 42.7 43

44 Difference -336.0 -190.7 79.4 44

 Memo:

45 Disposable personal income 9092.0 9629.1 10175.2 45

 Personal saving as a percentage of disposable personal income:

46 With consumer durables (FOF) (line 40) -1.0 0.4 3.3 46

47 Without consumer durables (FOF) (line 42) -3.2 -1.6 1.2 47

48 Without consumer durables (NIPA) (line 43) 0.5 0.4 0.4 48

49 Difference (line 44) -3.7 -2.0 0.8 49

(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) and life insurance and pension reserves (lines 15 and 16)).

(3) Includes corporate farms.

(4) Line 18 less line 23.

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

(6) Line 42 and 43 are conceptually equivalent but measure saving using different data. Line 42 is net acquisition of financial assets (line 1) plus net investment in tangible assets net of consumer durables

 (line 27 less line 41) less net increase in liabilities (line 32) less net capital transfers (line 39). Line 43 is disposable personal income (line 45) less personal outlays (table F.100, line 4).
8 FFA, 2005-2007, March 6, 2008

F.100 Households and Nonprofit Organizations (1)

Billions of dollars

2005 2006 2007

 

 1 Personal income 10301.1 10983.4 11658.8 1

 2 - Personal current taxes 1209.1 1354.3 1483.6 2

 3 = Disposable personal income 9092.0 9629.1 10175.2 3

 4 - Personal outlays 9047.4 9590.3 10132.4 4

 5 = Personal saving, NIPA (2) 44.6 38.8 42.7 5

 6 + Government insurance and pension reserves (3) 0.7 0.1 0.1 6

 7 + Net investment in consumer durables 201.7 191.1 211.1 7

 8 + Consumption of fixed capital 1036.6 1036.3 1055.5 8

 9 + Net capital transfers (4) -16.2 -18.4 -3.5 9

10 = Gross saving and net capital transfers 1267.4 1247.9 1305.9 10

11 Gross investment 931.9 1058.4 1386.6 11

12 Capital expenditures 1702.7 1708.3 1620.9 12

13 Residential 661.7 639.8 519.4 13

14 Consumer durable goods 939.3 958.7 984.3 14

15 Nonprofit nonresidential 101.8 109.8 117.3 15

16 Net financial investment -770.8 -649.9 -234.4 16

17 Net acquisition of financial assets 386.3 613.4 685.7 17

18 Foreign deposits 4.1 5.9 19.0 18

19 Checkable deposits and currency -137.7 -41.1 -43.9 19

20 Time and savings deposits 470.1 507.4 451.8 20

21 Money market fund shares 45.2 165.2 229.0 21

22 Credit market instruments 77.3 167.5 340.7 22

23 Open market paper 28.1 23.4 -28.0 23

24 Treasury securities -95.7 -68.6 -181.4 24

25 Savings bonds 0.7 -2.7 -6.0 25

26 Other -96.4 -65.9 -175.4 26

27 Agency- and GSE-backed securities 84.3 -28.8 428.3 27

28 Municipal securities 78.7 44.6 50.0 28

29 Corporate and foreign bonds -24.9 193.9 66.0 29

30 Mortgages 6.8 3.0 5.8 30

31 Corporate equities (5) -467.4 -761.0 -988.6 31

32 Mutual fund shares 228.5 236.7 307.1 32

33 Security credit -3.0 80.4 197.8 33

34 Life insurance reserves 16.1 65.6 27.4 34

35 Pension fund reserves 238.3 198.2 124.4 35

36 Equity in noncorporate business -137.8 -51.5 -57.1 36

37 Miscellaneous assets 52.8 40.1 78.1 37

38 Net increase in liabilities 1157.1 1263.3 920.1 38

39 Credit market instruments 1178.7 1194.2 877.1 39

40 Home mortgages (6) 1028.5 987.8 654.8 40

41 Consumer credit 94.5 104.4 132.3 41

42 Municipal securities 16.5 21.8 23.3 42

43 Bank loans n.e.c. 12.8 48.0 34.4 43

44 Other loans and advances -0.0 3.7 5.3 44

45 Commercial mortgages 26.4 28.5 26.9 45

46 Security credit -31.6 59.7 32.8 46

47 Trade payables 9.0 9.0 9.0 47

 Deferred and unpaid

48 life insurance premiums 1.0 0.5 1.2 48

49 Discrepancy 335.5 189.5 -80.6 49

(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 plus line 4 less lines 3 and 9.

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

(6) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 22.
FFA, 2005-2007, March 6, 2008 9

F.101 Nonfinancial Business (1)

Billions of dollars

2005 2006 2007

 

 1 Income before taxes 1950.1 2104.2 2146.5 1

 2 Gross saving and net capital transfers 1231.3 1214.9 1168.7 2

 3 Gross investment 1147.9 1437.2 1384.9 3

 4 Capital expenditures 1174.0 1334.3 1361.0 4

 5 Fixed investment 1147.3 1285.5 1366.5 5

 6 Residential 107.1 120.8 133.5 6

 7 Nonresidential 1040.2 1164.6 1232.9 7

 8 Change in inventories 36.9 46.6 5.6 8

 9 Nonproduced nonfinancial assets -10.2 2.2 -11.0 9

10 Net financial investment -26.1 102.9 23.9 10

11 Net acquisition of financial assets 1343.0 683.4 882.3 11

12 Foreign deposits 6.9 3.7 -9.3 12

13 Checkable deposits and currency 138.6 -56.1 8.4 13

14 Time and savings deposits 83.5 39.5 5.1 14

15 Money market fund shares 46.9 74.1 175.9 15

16 Security RPs 8.1 0.9 -1.4 16

17 Credit market instruments 53.7 27.1 -10.9 17

18 Commercial paper 16.0 15.5 -31.4 18

19 Treasury securities 23.6 0.8 12.3 19

20 Agency- and GSE-backed securities 6.5 -2.3 2.3 20

21 Municipal securities 0.4 8.9 0.4 21

22 Mortgages 7.0 6.2 7.1 22

23 Consumer credit 0.2 -2.1 -1.5 23

24 Mutual fund shares 6.7 32.9 32.9 24

25 Trade receivables 344.3 161.1 171.0 25

26 Miscellaneous assets 654.3 400.3 510.5 26

27 Net increase in liabilities 1369.1 580.5 858.4 27

28 Credit market instruments 587.7 790.8 1045.7 28

29 Commercial paper -7.9 23.4 10.5 29

30 Municipal securities 7.4 5.0 7.7 30

31 Corporate bonds 53.6 213.4 314.1 31

32 Bank loans n.e.c. 124.8 125.4 228.9 32

33 Other loans and advances 47.2 42.9 113.0 33

34 Mortgages 362.6 380.7 371.4 34

35 Corporate equities -363.4 -614.1 -836.6 35

36 Trade payables 249.0 98.6 107.4 36

37 Taxes payable 13.8 4.6 7.9 37

38 Miscellaneous liabilities 1019.4 347.7 591.2 38

39 Proprietors’ net investment -137.4 -47.1 -57.2 39

40 Discrepancy 83.4 -222.3 -216.3 40

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
10 FFA, 2005-2007, March 6, 2008

F.102 Nonfarm Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007

 

 1 Profits before tax (book) 935.5 1040.6 1036.8 1

 2 - Taxes on corporate income 262.7 287.4 311.0 2

 3 - Net dividends 196.4 445.4 491.0 3

 4 + Capital consumption allowance (1) 584.9 574.9 585.1 4

 5 = U.S. internal funds, book 1061.3 882.7 819.9 5

 6 + Foreign earnings retained abroad -30.1 147.4 153.9 6

 7 + Inventory valuation adjustment (IVA) -36.2 -36.3 -37.6 7

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

 9 = Total internal funds + IVA 995.0 993.8 936.2 9

10 Gross investment 911.6 1216.1 1152.5 10

11 Capital expenditures 915.0 1032.9 1036.2 11

12 Fixed investment (3) 889.7 985.3 1045.2 12

13 Inventory change + IVA 35.5 45.4 2.0 13

14 Nonproduced nonfinancial assets -10.2 2.2 -11.0 14

15 Net financial investment -3.4 183.2 116.3 15

16 Net acquisition of financial assets 957.8 374.9 533.0 16

17 Foreign deposits 6.9 3.7 -9.3 17

18 Checkable deposits and currency 74.0 -79.3 -12.3 18

19 Time and savings deposits 49.9 -5.2 -53.1 19

20 Money market fund shares 42.1 64.7 161.2 20

21 Security RPs 8.1 0.9 -1.4 21

22 Commercial paper 16.0 15.5 -31.4 22

23 Treasury securities 17.6 -6.3 6.3 23

24 Agency- and GSE-backed securities 6.5 -2.3 2.3 24

25 Municipal securities 0.3 8.3 -0.3 25

26 Mortgages 1.7 1.7 1.7 26

27 Consumer credit 0.2 -2.1 -1.5 27

28 Trade receivables 277.7 106.3 105.8 28

29 Mutual fund shares 6.7 32.9 32.9 29

30 Miscellaneous assets 450.0 236.1 332.3 30

31 U.S. direct investment abroad (4) -15.8 212.0 190.6 31

32 Insurance receivables 20.7 6.6 10.0 32

33 Equity in GSEs 0.0 0.0 0.0 33

34 Investment in finance co. subs. -1.7 13.0 -6.3 34

35 Other 446.8 4.5 138.0 35

36 Net increase in liabilities 961.2 191.7 416.7 36

37 Net funds raised in markets -120.0 -188.4 -209.2 37

38 Net new equity issues -363.4 -614.1 -836.6 38

39 Credit market instruments 243.4 425.7 627.4 39

40 Commercial paper -7.9 23.4 10.5 40

41 Municipal securities (5) 7.4 5.0 7.7 41

42 Corporate bonds (4) 53.6 213.4 314.1 42

43 Bank loans n.e.c. -35.6 55.2 99.2 43

44 Other loans and advances 39.1 22.1 98.2 44

45 Savings institutions 1.9 3.0 3.1 45

46 Finance companies 24.9 17.0 19.3 46

47 U.S. government 0.8 0.8 0.5 47

48 Acceptance liabilities to banks 0.0 -0.3 -0.1 48

49 Rest of the world 28.3 -0.2 85.1 49

50 ABS issuers -16.8 1.8 -9.8 50

51 Mortgages 186.8 106.6 97.6 51

52 Trade payables 199.4 72.8 72.6 52

53 Taxes payable 5.1 -1.0 1.3 53

54 Miscellaneous liabilities 876.7 308.4 552.0 54

55 Foreign direct investment in U.S. 42.9 104.8 154.9 55

56 Pension fund contributions payable -1.9 -2.0 7.0 56

57 Other 835.7 205.5 390.1 57

58 Discrepancy 83.4 -222.3 -216.3 58

 Memo:

59 Financing gap (6) -110.1 186.6 253.9 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, 2005-2007, March 6, 2008 11

F.103 Nonfarm Noncorporate Business

Billions of dollars

2005 2006 2007

 

 1 Net income with IVA and CCAdj 983.8 1044.2 1073.5 1

 2 Gross saving = capital consumption 211.5 197.0 207.5 2

 3 Gross investment 211.5 197.0 207.5 3

 4 Capital expenditures 226.2 269.7 288.6 4

 5 Fixed investment (1) 224.3 267.3 288.5 5

 6 Change in inventories 1.9 2.4 0.1 6

 7 Net financial investment -14.7 -72.8 -81.1 7

 8 Net acquisition of financial assets 383.2 302.3 344.1 8

 9 Checkable deposits and currency 63.9 21.1 18.9 9

10 Time and savings deposits 33.6 44.7 58.2 10

11 Money market mutual funds 4.8 9.4 14.7 11

12 Treasury securities 6.0 7.1 6.0 12

13 Municipal securities 0.1 0.6 0.7 13

14 Mortgages 5.3 4.6 5.5 14

15 Consumer credit 0.0 0.0 0.0 15

16 Trade receivables 66.6 54.8 65.3 16

17 Miscellaneous assets 203.0 160.1 174.8 17

18 Insurance receivables 4.9 1.6 2.1 18

19 Equity investment in GSEs (2) -0.1 0.1 0.3 19

20 Other 198.2 158.5 172.4 20

21 Net increase in liabilities 397.9 375.0 425.2 21

22 Credit market instruments 331.6 346.8 403.2 22

23 Bank loans n.e.c. 158.1 66.9 127.3 23

24 Other loans and advances 2.3 13.3 10.5 24

25 Mortgages 171.2 266.6 265.3 25

26 Trade payables 52.0 30.1 35.8 26

27 Taxes payable 8.7 5.6 6.6 27

28 Miscellaneous liabilities 142.8 39.3 39.1 28

29 Proprietors’ net investment -137.1 -46.8 -59.6 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 30.8 19.4 36.2 1

 2 Net saving (corporate) -1.2 -1.3 -1.3 2

 3 Consumption of fixed capital 26.0 25.5 26.2 3

 4 Corporate 4.9 5.2 5.4 4

 5 Noncorporate 21.1 20.3 20.8 5

 6 Gross saving 24.8 24.2 24.9 6

 7 Gross investment 24.8 24.2 24.9 7

 8 Capital expenditures 32.8 31.7 36.2 8

 9 Fixed investment (2) 33.3 32.9 32.8 9

10 Change in inventories -0.5 -1.2 3.5 10

11 Net financial investment -8.0 -7.6 -11.3 11

12 Net acquisition of financial assets 2.0 6.2 5.2 12

13 Checkable deposits and currency 0.7 2.1 1.8 13

14 Miscellaneous assets 1.3 4.1 3.4 14

15 Insurance receivables 1.2 3.9 2.9 15

16 Equity investment in GSEs (3) 0.1 0.2 0.5 16

17 Net increase in liabilities 10.0 13.7 16.5 17

18 Credit market instruments 12.7 18.4 15.1 18

19 Bank loans n.e.c. 2.2 3.3 2.3 19

20 Other loans and advances 5.9 7.6 4.3 20

21 Mortgages 4.6 7.5 8.5 21

22 Trade payables -2.5 -4.3 -1.0 22

23 Proprietors’ net investment -0.3 -0.4 2.4 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, 2005-2007, March 6, 2008

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

Billions of dollars

2005 2006 2007

 

 1 Current receipts, NIPA basis 1706.9 1797.7 1889.4 1

 2 Personal current taxes 276.7 301.2 321.4 2

 3 Taxes on production and imports 822.6 868.8 909.0 3

 4 Taxes on corporate income 56.7 62.4 65.4 4

 5 Contributions for govt. social insurance 25.5 26.0 25.9 5

 6 Income receipts on assets 81.0 87.1 89.5 6

 7 Current transfer receipts 454.8 462.9 490.4 7

 8 Current surplus of government enterprises -10.3 -10.7 -12.2 8

 9 Current expenditures, NIPA basis 1691.7 1773.0 1898.4 9

10 Consumption expenditures 1197.2 1276.5 1366.2 10

11 Govt. social benefit payments to persons 403.8 400.8 433.1 11

12 Interest payments 90.4 95.4 98.8 12

13 Subsidies 0.4 0.4 0.4 13

14 - Wage accruals less disbursements 0.0 0.0 0.0 14

15 Net state and local govt. saving, NIPA basis 15.2 24.6 -9.0 15

16 + Consumption of fixed capital 153.4 162.3 177.5 16

17 + Net capital transfers (2) 54.1 56.9 58.0 17

18 = Gross saving and net capital transfers 222.7 243.8 226.5 18

19 Gross investment 282.4 274.9 269.8 19

20 Fixed investment 287.8 314.0 348.3 20

21 Nonproduced nonfinancial assets 10.6 11.2 11.4 21

22 Net financial investment -16.1 -50.3 -89.8 22

23 Net acq. of financial assets 188.2 136.3 133.2 23

24 Checkable deposits and currency 10.3 6.0 -3.0 24

25 Time and savings deposits 12.8 26.2 35.9 25

26 Money market fund shares 4.1 5.1 3.7 26

27 Security RPs 8.1 7.1 0.5 27

28 Credit market instruments 124.1 84.6 48.2 28

29 Open market paper 10.6 13.2 -7.8 29

30 Treasury securities 74.0 34.6 27.2 30

31 Agency- and GSE-backed securities 23.1 20.6 12.4 31

32 Municipal securities 0.3 0.4 0.3 32

33 Corporate and foreign bonds 7.3 8.1 6.8 33

34 Mortgages 8.7 7.8 9.4 34

35 Corporate equities 1.2 -6.4 0.8 35

36 Mutual fund shares 0.4 -2.0 0.2 36

37 Trade receivables 8.3 10.3 7.5 37

38 Taxes receivable 41.8 46.3 52.1 38

39 Miscellaneous assets -23.0 -41.0 -12.7 39

40 Net increase in liabilities 204.3 186.6 223.0 40

41 Credit market instruments 171.6 151.2 184.2 41

42 Municipal securities 171.1 150.5 183.5 42

43 Short-term 5.7 -3.1 17.3 43

44 Other 165.3 153.6 166.3 44

45 U.S. government loans 0.5 0.6 0.7 45

46 Trade payables 32.7 35.5 38.8 46

47 Discrepancy -59.7 -31.1 -43.3 47

(1) Data for retirement funds are shown in table F.119.

(2) Table F.9, line 8.
FFA, 2005-2007, March 6, 2008 13

F.106 Federal Government

Billions of dollars

2005 2006 2007

 

 1 Current receipts, NIPA basis 2243.4 2495.8 2680.4 1

 2 Personal current taxes 932.4 1053.2 1162.2 2

 3 Taxes on production and imports 99.0 98.6 100.0 3

 4 Taxes on corporate income 319.8 373.1 390.6 4

 5 Taxes from the rest of the world 11.5 12.6 12.4 5

 6 Contributions for govt. social insurance 849.3 901.6 953.1 6

 7 Income receipts on assets 24.5 24.7 25.1 7

 8 Current transfer receipts 11.6 35.2 39.4 8

 9 Current surplus of government enterprises -4.8 -3.2 -2.3 9

10 Current expenditures, NIPA basis 2561.6 2715.8 2900.1 10

11 Consumption expenditures 768.5 812.8 856.0 11

12 Government social benefits 1082.4 1187.9 1274.2 12

13 Other current transfer payments 396.7 388.2 412.1 13

14 Interest payments 255.9 277.5 311.0 14

15 Subsidies 58.2 49.4 46.7 15

16 - Wage accruals less disbursements 0.0 0.0 -0.0 16

17 Net federal government saving, NIPA basis -318.3 -220.1 -219.7 17

18 + Consumption of fixed capital 99.0 105.4 110.4 18

19 - Insurance and pension reserves (1) 0.7 0.1 0.1 19

20 + Net capital transfers (2) -42.1 -42.3 -56.5 20

21 = Gross saving and net capital transfers -262.0 -157.1 -165.9 21

22 Gross investment -288.4 -181.2 -170.0 22

23 Fixed investment 109.9 119.7 120.1 23

24 Nonproduced nonfinancial assets -0.5 -13.3 -0.8 24

25 Net financial investment -397.9 -287.6 -289.4 25

26 Net acq. of financial assets 6.2 -28.1 41.6 26

27 Gold, SDRs, and official foreign exchange -14.4 -2.7 -0.3 27

28 Checkable deposits and currency 12.2 -2.7 25.2 28

29 Time and savings deposits -1.0 0.2 1.2 29

30 Credit market instruments -2.7 4.0 10.4 30

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

32 Other loans and advances -8.8 -1.5 2.1 32

33 Mortgages 2.4 3.7 1.9 33

34 Consumer credit (3) 3.7 1.9 6.5 34

35 Trade receivables 9.1 0.4 0.2 35

36 Taxes receivable 4.4 -28.3 3.2 36

37 Miscellaneous assets -1.4 1.0 1.8 37

38 Net increase in liabilities 404.1 259.5 331.0 38

39 SDR certificates 0.0 0.0 0.0 39

40 Treasury currency 0.8 0.6 0.7 40

41 Credit market instruments 306.9 183.4 237.1 41

42 Savings bonds 0.7 -2.7 -6.0 42

43 Other Treasury securities 306.6 186.4 243.4 43

44 Budget agency securities -0.4 -0.3 -0.4 44

45 Multifamily residential mortgages 0.0 0.0 0.0 45

46 Trade payables 32.6 12.0 10.4 46

47 Insurance reserves 1.1 1.5 1.2 47

48 Miscellaneous liabilities (4) 62.8 62.1 81.7 48

49 Nonmarketable securities held by pension plans 40.0 35.8 33.3 49

50 Other 22.8 26.3 48.3 50

51 Discrepancy 26.5 24.2 4.1 51

 Memo:

52 Change in cash balance (5) 4.6 -5.5 27.5 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, 2005-2007, March 6, 2008

F.107 Rest of the World

Billions of dollars

2005 2006 2007

 

 1 Foreign income from U.S. 2588.5 2953.2 3196.1 1

 2 U.S. imports 2023.9 2229.6 2350.0 2

 3 U.S. income payments to rest of world 475.5 633.4 746.6 3

 4 Current taxes and trans. payments to rest of world 89.0 90.1 99.5 4

 5 Foreign outlays to U.S. 1853.5 2159.0 2472.8 5

 6 U.S. exports 1309.4 1467.6 1641.4 6

 7 U.S. income receipts from rest of world 544.1 691.4 831.4 7

 8 Net capital transfers (1) 4.1 3.8 2.0 8

 9 Gross saving and net capital transfers (2) 739.2 797.9 725.3 9

10 Gross investment 773.4 829.2 591.6 10

11 Nonproduced nonfinancial assets 0.1 -0.1 0.4 11

12 Net financial investment 773.3 829.3 591.2 12

13 Net acquisition of financial assets 1032.8 1629.6 1583.8 13

14 Gold and SDRs (3) 4.5 -0.2 -0.2 14

15 Net interbank assets -12.3 -9.4 -109.1 15

16 U.S. checkable deposits and currency 25.4 21.8 15.6 16

17 U.S. time deposits 4.6 12.9 33.2 17

18 Money market fund shares 0.1 3.0 7.1 18

19 Security RPs 48.2 109.4 70.7 19

20 Credit market instruments 780.6 856.8 791.6 20

21 Open market paper 9.9 48.0 4.7 21

22 Treasury securities 260.7 139.7 209.0 22

23 Official 112.8 189.2 49.5 23

24 Private 147.9 -49.5 159.6 24

25 Agency- and GSE-backed securities 150.3 228.5 189.4 25

26 Official 100.5 191.6 220.0 26

27 Private 49.8 36.9 -30.6 27

28 Municipal securities 3.0 2.0 2.0 28

29 U.S. corporate bonds (4) 328.5 438.9 301.4 29

30 Loans to U.S. corporate business 28.3 -0.2 85.1 30

31 U.S. corporate equities 56.9 120.2 182.1 31

32 Mutual fund shares 32.2 25.3 15.4 32

33 Trade receivables 7.9 6.2 16.9 33

34 Security credit 0.0 0.0 0.0 34

35 Miscellaneous assets 84.6 483.6 560.4 35

36 Foreign direct investment in U.S. (5) 109.0 180.6 235.1 36

37 Other -24.4 303.0 325.3 37

38 Net increase in liabilities 259.5 800.3 992.6 38

 U.S. official foreign exchange

39 and net IMF position -9.6 -2.6 0.0 39

40 U.S. private deposits 67.8 98.8 265.9 40

41 Credit market instruments 102.8 250.4 97.8 41

42 Commercial paper 38.5 93.1 -66.0 42

43 Bonds 54.5 150.9 141.9 43

44 Bank loans n.e.c. 14.5 13.8 24.2 44

45 Official -2.9 -0.7 -0.0 45

46 Banks 4.7 3.8 8.3 46

47 Other 12.7 10.7 16.0 47

48 U.S. government loans -4.6 -7.4 -2.4 48

49 Acceptance liabilities to banks -0.0 -0.1 0.1 49

50 Foreign corporate equities (6) 142.6 138.5 110.2 50

51 Trade payables 6.3 6.2 12.1 51

52 Security debt 0.0 0.0 0.0 52

53 Miscellaneous liabilities -50.3 308.9 506.7 53

54 U.S. equity in IBRD, etc. 1.3 2.0 2.5 54

55 U.S. government deposits -2.2 -0.0 -0.1 55

56 U.S. direct investment abroad (4,5) -7.7 235.4 280.5 56

57 Other -41.8 71.6 223.9 57

58 Discrepancy (FOF basis) (7) -34.2 -31.3 133.8 58

 Memo:

59 Net U.S. exports, NIPA basis -714.6 -762.0 -708.6 59

60 + Net U.S. income receipts (8) 68.5 58.0 84.8 60

61 - Current taxes and trans. payments to rest of world 89.0 90.1 99.5 61

62 = Balance on current account, NIPAs -735.1 -794.1 -723.3 62

(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 62 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, 2005-2007, March 6, 2008 15

F.108 Monetary Authority (1)

Billions of dollars

2005 2006 2007

 

 1 Gross saving -0.2 1.2 8.3 1

 2 Fixed nonresidential investment 1.9 2.1 2.3 2

 3 Net acquisition of financial assets 37.4 29.6 43.2 3

 4 Gold and foreign exchange 0.3 0.4 0.5 4

 5 SDR certificates 0.0 0.0 0.0 5

 6 Treasury currency 0.1 1.7 0.6 6

 7 Federal Reserve float -0.0 -1.2 0.3 7

 8 Fed. Res. loans to domestic banks 0.0 -0.0 48.6 8

 9 Security RPs 13.8 -6.0 5.8 9

10 Credit market instruments 26.4 34.7 -38.3 10

11 Acceptances 0.0 0.0 0.0 11

12 Treasury securities 26.4 34.7 -38.3 12

13 Agency- and GSE-backed securities 0.0 0.0 0.0 13

14 Bank loans n.e.c. 0.0 0.0 0.0 14

15 Miscellaneous assets -3.2 0.1 25.7 15

16 Net increase in liabilities 36.1 27.2 40.1 16

17 Depository institution reserves -5.0 -0.3 2.1 17

18 Vault cash of commercial banks 8.6 1.6 3.3 18

19 Checkable deposits and currency 29.2 24.8 17.1 19

20 Due to federal government -1.4 0.2 11.4 20

21 Due to rest of the world -0.0 0.0 -0.0 21

22 Currency outside banks 30.6 24.5 5.6 22

23 Miscellaneous liabilities 3.4 1.1 17.7 23

24 Federal Reserve Bank stock 1.6 1.8 3.1 24

25 Other 1.7 -0.7 14.6 25

26 Discrepancy -3.3 -3.3 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, 2005-2007, March 6, 2008

F.109 Commercial Banking (1)

Billions of dollars

2005 2006 2007

 

 1 Gross saving 92.7 87.6 84.9 1

 2 Fixed nonresidential investment 20.8 22.5 24.1 2

 3 Net acquisition of financial assets 762.6 897.3 936.3 3

 4 Vault cash 8.6 1.6 3.3 4

 5 Reserves at Federal Reserve -4.5 0.4 1.5 5

 6 Checkable deposits and currency -0.5 -0.1 -0.5 6

 7 Total bank credit 691.6 838.0 789.0 7

 8 Treasury securities -10.7 -1.9 17.3 8

 9 Agency- and GSE-backed securities -5.5 45.7 -112.9 9

10 Municipal securities 16.9 22.6 12.0 10

11 Corporate and foreign bonds 123.4 93.3 198.5 11

12 Total loans 569.1 673.8 668.9 12

13 Open market paper 0.0 0.0 0.0 13

14 Bank loans n.e.c. 169.1 123.1 341.8 14

15 Mortgages 362.4 445.0 230.2 15

16 Consumer credit 2.8 34.2 63.4 16

17 Security credit 34.8 71.5 33.5 17

18 Corporate equities 0.1 0.7 1.6 18

19 Mutual fund shares -1.8 3.9 3.7 19

20 Customers’ liab. on acceptances (2) 0.0 -0.3 0.0 20

21 Miscellaneous assets 67.4 57.7 143.0 21

22 Net increase in liabilities 708.8 942.8 1100.4 22

23 Net interbank liabilities -16.0 -12.5 -58.5 23

24 To monetary authority -0.0 -1.2 48.9 24

25 To domestic banks (3) -3.7 -1.9 1.7 25

26 To foreign banks -12.3 -9.4 -109.1 26

27 Checkable deposits -36.4 -35.9 12.4 27

28 Federal government 7.0 -5.9 14.9 28

29 Rest of the world 6.4 9.2 4.7 29

30 Private domestic -49.8 -39.2 -7.2 30

31 Small time and savings deposits 268.3 287.6 262.1 31

32 Large time deposits 243.1 264.0 299.2 32

33 Federal funds and security RPs (net) 114.7 150.5 56.9 33

34 Credit market instruments 85.1 177.4 259.0 34

35 Open market paper 4.0 21.4 34.2 35

36 Corporate bonds 56.7 76.0 118.2 36

37 Other loans and advances 24.4 80.0 106.6 37

38 Corporate equity issues -13.8 -10.5 -23.8 38

39 Taxes payable 3.4 3.7 4.0 39

40 Miscellaneous liabilities 60.3 118.6 289.3 40

41 Discrepancy 18.0 110.6 225.0 41

 Memo:

42 Credit market funds advanced (4) 658.4 761.7 750.3 42

43 Consumer leases not included above (5) 0.0 0.0 -1.8 43

(1) U.S.-chartered commercial banks, foreign banking offices in U.S., bank holding companies, and banks in U.S.-affiliated areas. IBFs are excluded from domestic banking and treated the

 same as branches in foreign countries.

(2) Included in other loans and advances (table F.216).

(3) Floats and discrepancies in interbank transactions.

(4) Total bank credit (line 7) less security credit (line 17) less corporate equities (line 18) less mutual fund shares (line 19) plus customers’ liability on acceptances (line 20).

(5) 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.
FFA, 2005-2007, March 6, 2008 17

F.110 U.S.-Chartered Commercial Banks

Billions of dollars

2005 2006 2007

 

 1 Gross saving 4.7 0.1 4.7 1

 2 Fixed nonresidential investment 12.8 13.7 14.6 2

 3 Net acquisition of financial assets 509.2 699.6 598.7 3

 4 Vault cash and reserves at Federal Reserve 3.9 2.3 4.4 4

 5 Total bank credit 499.7 681.7 563.1 5

 6 Treasury securities -10.1 -2.2 11.1 6

 7 Agency- and GSE-backed securities -3.3 47.5 -111.4 7

 8 Mortgage pass-through securities -2.7 68.8 -54.9 8

 9 CMOs and other structured MBS -4.4 -5.1 -4.4 9

10 Other 3.8 -16.1 -52.1 10

11 Municipal securities 16.7 21.7 11.9 11

12 Corporate and foreign bonds 47.0 59.1 101.8 12

13 Private mortgage pass-through securities 5.1 8.8 17.3 13

14 Private CMOs and other structured MBS 38.2 12.7 63.0 14

15 Other 3.8 37.6 21.5 15

16 Total loans 451.1 551.1 544.6 16

17 Open market paper 0.0 0.0 0.0 17

18 Bank loans n.e.c. 100.0 59.3 238.0 18

19 Mortgages 354.8 436.8 212.6 19

20 Consumer credit 2.8 34.2 63.4 20

21 Security credit -6.6 20.9 30.5 21

22 Corporate equities 0.1 0.7 1.6 22

23 Mutual fund shares -1.8 3.9 3.7 23

24 Customers’ liab. on acceptances (1) -0.0 0.0 0.0 24

25 Miscellaneous assets 5.6 15.6 31.2 25

26 Net increase in liabilities 530.7 818.9 829.2 26

27 Net interbank liabilities 16.6 72.6 182.0 27

28 Federal Reserve float -0.0 -1.2 0.3 28

29 Borrowing from Federal Reserve banks 0.0 -0.0 48.6 29

30 To domestic banking 0.5 -36.6 30.8 30

31 To foreign banks 16.1 110.5 102.4 31

32 Checkable deposits -36.8 -36.6 9.5 32

33 Federal government 7.0 -5.9 14.9 33

34 Rest of the world 6.2 9.4 4.4 34

35 Private domestic -49.9 -40.1 -9.7 35

36 Small time and savings deposits 262.9 277.8 253.0 36

37 Large time deposits 166.8 129.9 23.7 37

38 Federal funds and security RPs (net) 81.4 101.4 70.5 38

39 Acceptance liabilities -0.0 0.0 0.0 39

40 Corporate bonds 12.5 27.5 25.1 40

41 Other loans and advances 24.4 80.0 106.6 41

42 Corporate equity issues 6.2 9.3 4.4 42

43 Taxes payable 3.4 3.7 4.0 43

44 Miscellaneous liabilities -6.8 153.3 150.4 44

45 Investment by bank holding companies 40.0 110.0 126.3 45

46 Other -46.8 43.3 24.1 46

47 Discrepancy 13.3 105.7 220.5 47

 Memo:

48 Credit market funds advanced (2) 507.9 656.3 527.4 48

49 Consumer leases not included above (3) 0.0 0.0 -1.8 49

(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).

(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.
18 FFA, 2005-2007, March 6, 2008

F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

2005 2006 2007

 

 1 Gross saving 7.1 7.3 7.5 1

 2 Fixed nonresidential investment 7.6 8.4 9.1 2

 3 Net acquisition of financial assets 148.8 3.7 219.0 3

 4 Reserves at Federal Reserve 0.2 -0.3 0.4 4

 5 Total bank credit 185.9 154.6 204.6 5

 6 Treasury securities 0.2 -0.8 3.5 6

 7 Agency- and GSE-backed securities -0.9 3.9 2.1 7

 8 Municipal securities 0.0 0.0 0.0 8

 9 Corporate and foreign bonds 80.6 29.8 77.0 9

10 Total loans 106.1 121.8 122.0 10

11 Open market paper 0.0 0.0 0.0 11

12 Bank loans n.e.c. 60.7 67.1 105.0 12

13 Mortgages 4.0 4.1 14.1 13

14 Security credit 41.4 50.6 3.0 14

15 Corporate equities 0.0 0.0 0.0 15

16 Customers’ liab. on acceptances (2) 0.1 -0.3 0.0 16

17 Miscellaneous assets -37.3 -150.4 13.9 17

18 Net increase in liabilities 154.5 9.8 225.6 18

19 Net interbank liabilities -6.0 -71.3 -191.0 19

20 To foreign banks -8.8 -78.5 -169.2 20

21 To domestic banks 2.8 7.3 -21.8 21

22 Checkable deposits 0.5 -0.0 2.6 22

23 Small time and savings deposits 0.5 8.6 6.9 23

24 Large time deposits 71.4 132.8 273.4 24

25 Federal funds and security RPs (net) 33.4 49.0 -13.6 25

26 Acceptance liabilities 0.0 -0.3 0.0 26

27 Miscellaneous liabilities 54.6 -109.0 147.3 27

28 Foreign direct investment in U.S. 9.8 15.4 33.1 28

29 Due to affiliates 21.0 8.6 43.7 29

30 Other 23.7 -133.0 70.6 30

31 Discrepancy 5.2 5.0 4.9 31

 Memo:

32 Credit market funds advanced (3) 144.5 103.7 201.7 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, 2005-2007, March 6, 2008 19

F.112 Bank Holding Companies

Billions of dollars

2005 2006 2007

 

 1 Gross saving 80.7 80.1 72.7 1

 2 Fixed nonresidential investment 0.2 0.2 0.2 2

 3 Net acquisition of financial assets 94.8 195.2 117.7 3

 4 Credit market instruments -4.2 3.3 23.1 4

 5 Treasury securities -0.9 1.4 4.6 5

 6 Agency- and GSE-backed securities -2.3 -0.0 -1.3 6

 7 Corporate and foreign bonds -3.7 4.9 19.1 7

 8 Bank loans n.e.c. 2.7 -2.9 0.7 8

 9 Miscellaneous assets 99.0 191.8 94.6 9

10 Investment in bank subsidiaries 40.0 110.0 126.3 10

11 Investment in nonbank subsidiaries 42.7 46.3 -63.4 11

12 Other 16.2 35.6 31.7 12

13 Net increase in liabilities 14.3 115.3 45.3 13

14 Net interbank liabilities -26.5 -13.9 -49.5 14

15 To domestic banks -6.9 27.4 -7.3 15

16 To foreign banks -19.6 -41.3 -42.2 16

17 Federal funds and security RPs (net) -0.2 0.1 0.1 17

18 Credit market instruments 48.2 70.2 127.2 18

19 Commercial paper 4.0 21.7 34.1 19

20 Corporate bonds 44.2 48.5 93.1 20

21 Corporate equity issues -20.0 -19.9 -28.2 21

22 Miscellaneous liabilities 12.8 78.7 -4.3 22

23 Equity, etc. 48.4 -13.8 -66.3 23

24 Other -35.6 92.5 62.0 24

25 Discrepancy -0.0 -0.0 -0.0 25

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

 1 Gross saving 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.2 2

 3 Net acquisition of financial assets 9.8 -1.2 0.9 3

 4 Checkable deposits and currency -0.5 -0.1 -0.5 4

 5 Credit market instruments 10.2 -1.7 -1.9 5

 6 Treasury securities 0.1 -0.2 -1.9 6

 7 Agency- and GSE-backed securities 1.2 -5.8 -2.4 7

 8 Municipal securities 0.2 0.8 0.2 8

 9 Corporate and foreign bonds -0.5 -0.4 0.6 9

10 Bank loans n.e.c. 5.6 -0.3 -1.9 10

11 Home mortgages 0.7 0.9 1.0 11

12 Commercial mortgages 2.9 3.2 2.5 12

13 Miscellaneous assets 0.1 0.6 3.3 13

14 Net increase in liabilities 9.3 -1.3 0.4 14

15 Checkable deposits -0.2 0.7 0.3 15

16 Small time and savings deposits 4.9 1.2 2.1 16

17 Large time deposits 4.9 1.2 2.1 17

18 Miscellaneous liabilities -0.3 -4.4 -4.1 18

19 Discrepancy -0.5 -0.1 -0.4 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, 2005-2007, March 6, 2008

F.114 Savings Institutions (1)

Billions of dollars

2005 2006 2007

 

 1 Gross saving 11.6 7.8 7.9 1

 2 Fixed nonresidential investment 2.2 2.4 2.5 2

 3 Net acquisition of financial assets 140.9 -74.2 99.6 3

 4 Reserves at Federal Reserve -0.5 -0.7 0.6 4

 5 Checkable deposits and currency 2.4 -3.3 -0.5 5

 6 Time and savings deposits -0.5 3.9 3.3 6

 7 Federal funds and security RPs -0.1 9.3 27.3 7

 8 Credit market instruments 199.3 -98.1 65.8 8

 9 Open market paper 0.0 0.0 0.0 9

10 Treasury securities 4.0 0.1 -5.4 10

11 Agency- and GSE-backed securities 55.8 -23.0 -0.6 11

12 Mortgage pass-through securities 25.6 -19.7 5.2 12

13 CMOs and other structured MBS 7.4 -3.3 -2.2 13

14 Other 22.9 -0.1 -3.7 14

15 Municipal securities 1.5 2.1 -0.1 15

16 Corporate and foreign bonds 21.0 9.0 49.1 16

17 Private mortgage pass-through securities -0.6 3.1 -4.5 17

18 Private CMOs and other structured MBS 18.1 6.8 39.3 18

19 Other 3.5 -0.8 14.3 19

20 Other loans and advances 3.9 6.0 6.2 20

21 Mortgages 95.3 -78.8 21.3 21

22 Consumer credit 17.8 -13.5 -4.6 22

23 Corporate equities -1.0 -1.0 -0.1 23

24 Miscellaneous assets -58.7 15.7 3.2 24

25 Net increase in liabilities 138.4 -75.7 95.1 25

26 Deposits 76.6 24.6 13.2 26

27 Checkable 3.8 0.9 -0.2 27

28 Small time and savings 34.0 28.9 -3.3 28

29 Large time 38.8 -5.2 16.7 29

30 Security RPs -3.6 -15.5 -17.3 30

31 Credit market instruments 23.8 -111.9 103.1 31

32 Corporate bonds 1.0 2.0 -0.3 32

33 Bank loans n.e.c. 6.5 -48.2 6.5 33

34 Other loans and advances 16.2 -65.7 96.9 34

35 Taxes payable 0.7 -0.5 0.1 35

36 Miscellaneous liabilities 40.8 27.6 -4.0 36

37 Investment by parent 1.3 1.4 1.6 37

38 Other 39.5 26.2 -5.6 38

39 Discrepancy 6.9 4.1 0.9 39

(1) Savings and loan associations, mutual savings banks, and federal savings banks.
FFA, 2005-2007, March 6, 2008 21

F.115 Credit Unions

Billions of dollars

2005 2006 2007

 

 1 Gross saving 8.0 8.0 9.8 1

 2 Fixed nonresidential investment 2.1 2.3 2.5 2

 3 Net acquisition of financial assets 30.9 30.5 43.3 3

 4 Checkable deposits and currency -2.0 6.2 -1.1 4

 5 Time and savings deposits -4.5 -4.9 0.2 5

 6 Federal funds and security RPs 2.6 -1.6 -2.6 6

 7 Credit market instruments 36.2 30.1 36.7 7

 8 Open market paper -0.0 0.2 -0.5 8

 9 Treasury securities -1.1 -0.3 -0.5 9

10 Agency- and GSE-backed securities -6.8 -13.9 -5.1 10

11 Corporate and foreign bonds -1.5 7.2 3.9 11

12 Home mortgages 32.4 31.0 34.1 12

13 Consumer credit 13.2 5.9 4.8 13

14 Mutual fund shares -1.0 -0.1 -0.0 14

15 Miscellaneous assets -0.3 0.8 10.2 15

16 Net increase in liabilities 27.5 26.0 39.4 16

17 Shares/deposits 21.6 24.5 29.8 17

18 Checkable 7.0 -8.5 -3.7 18

19 Small time and savings 12.1 30.5 28.0 19

20 Large time 2.5 2.5 5.5 20

21 Other loans and advances 3.3 4.2 13.5 21

22 Miscellaneous liabilities 2.6 -2.7 -3.9 22

23 Discrepancy 2.5 1.2 3.3 23

F.116 Property-Casualty Insurance Companies

Billions of dollars

 1 Gross saving 11.4 36.0 40.6 1

 2 Fixed nonresidential investment 6.0 6.2 6.3 2

 3 Net acquisition of financial assets 70.7 61.6 42.7 3

 4 Checkable deposits and currency -4.8 8.9 4.0 4

 5 Security RPs 5.9 -2.9 -19.4 5

 6 Credit market instruments 66.9 47.7 38.1 6

 7 Treasury securities -2.0 6.6 2.5 7

 8 Agency- and GSE-backed securities 5.8 4.1 5.7 8

 9 Municipal securities 45.4 22.1 16.4 9

10 Corporate and foreign bonds 17.5 14.2 12.4 10

11 Commercial mortgages 0.3 0.7 1.1 11

12 Corporate equities -6.1 2.3 3.9 12

13 Mutual fund shares 0.3 0.5 0.4 13

14 Trade receivables 2.4 4.9 3.5 14

15 Miscellaneous assets 6.1 0.2 12.4 15

16 Net increase in liabilities 53.5 20.8 23.4 16

17 Corporate equity issues -2.8 -8.5 -11.8 17

18 Taxes payable 4.7 5.2 5.7 18

19 Miscellaneous liabilities 51.6 24.2 29.5 19

20 Discrepancy -11.8 -11.0 14.9 20
22 FFA, 2005-2007, March 6, 2008

F.117 Life Insurance Companies

Billions of dollars

2005 2006 2007

 

 1 Gross saving 1.3 2.0 1.8 1

 2 Fixed nonresidential investment 2.2 2.3 2.5 2

 3 Net acquisition of financial assets 185.3 225.0 229.8 3

 4 Checkable deposits and currency -5.5 8.3 1.3 4

 5 Money market fund shares -7.1 48.7 64.3 5

 6 Credit market instruments 110.3 75.6 101.8 6

 7 Open market paper -8.0 12.9 -11.3 7

 8 Treasury securities 12.7 -8.0 2.9 8

 9 Agency- and GSE-backed securities 11.4 8.8 15.9 9

10 Municipal securities 2.4 4.1 1.7 10

11 Corporate and foreign bonds 78.9 36.1 68.4 11

12 Policy loans 0.8 3.4 5.0 12

13 Mortgages 12.1 18.3 19.3 13

14 Corporate equities 65.9 71.4 88.6 14

15 Mutual fund shares -9.9 26.9 8.0 15

16 Miscellaneous assets 31.7 -6.0 -34.2 16

17 Net increase in liabilities 173.9 202.5 203.8 17

18 Corporate equity issues -8.0 -20.0 -23.5 18

19 Other loans and advances 0.4 2.7 14.5 19

20 Life insurance reserves 14.9 64.1 26.3 20

21 Pension fund reserves (1) 159.3 103.7 132.1 21

22 Taxes payable 3.6 4.0 4.4 22

23 Miscellaneous liabilities 3.6 47.9 50.1 23

24 Discrepancy -12.4 -22.8 -26.6 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 Private Pension Funds (1)

Billions of dollars

 1 Gross saving 0.7 0.7 0.7 1

 2 Fixed nonresidential investment 0.2 0.2 0.3 2

 3 Net acquisition of financial assets 19.4 7.2 -67.6 3

 4 Checkable deposits and currency 0.3 0.4 0.5 4

 5 Time and savings deposits 6.2 1.1 2.9 5

 6 Money market fund shares 1.9 3.4 4.0 6

 7 Security RPs 1.7 3.2 9.5 7

 8 Credit market instruments 44.5 14.0 34.7 8

 9 Open market paper 2.2 3.1 1.2 9

10 Treasury securities 3.0 3.6 2.9 10

11 Agency- and GSE-backed securities 18.6 -1.3 14.4 11

12 Corporate and foreign bonds 20.9 8.9 16.1 12

13 Mortgages -0.2 -0.3 0.1 13

14 Corporate equities -18.5 -9.9 -100.2 14

15 Mutual fund shares 10.2 11.4 4.1 15

16 Miscellaneous assets -26.9 -16.4 -23.1 16

17 Unallocated insurance contracts (2) -18.6 -4.7 -26.4 17

18 Contributions receivable -1.9 -2.0 7.0 18

19 Other -6.4 -9.8 -3.7 19

20 Pension fund reserves (liabilities) (3) 18.9 6.8 -68.1 20

(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 net acquisition of tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.
FFA, 2005-2007, March 6, 2008 23

F.119 State and Local Government Employee Retirement Funds

Billions of dollars

2005 2006 2007

 

 1 Gross saving 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 2

 3 Net acquisition of financial assets 5.4 37.3 12.6 3

 4 Checkable deposits and currency -0.4 -2.6 3.9 4

 5 Time and savings deposits -0.1 -0.5 0.2 5

 6 Money market fund shares 0.1 1.3 3.8 6

 7 Security RPs -0.6 3.0 6.6 7

 8 Credit market instruments 18.1 76.3 26.1 8

 9 Open market paper 0.1 4.9 11.7 9

10 Treasury securities 2.8 -0.8 8.8 10

11 Agency- and GSE-backed securities -0.4 36.7 24.3 11

12 Municipal securities -0.2 0.1 -1.0 12

13 Corporate and foreign bonds 14.5 37.6 -16.9 13

14 Mortgages 1.3 -2.3 -0.9 14

15 Corporate equities -5.6 -41.2 -25.1 15

16 Mutual fund shares -5.5 1.3 -3.7 16

17 Miscellaneous assets -0.6 -0.3 0.9 17

18 Pension fund reserves (liabilities) (1) 5.4 37.3 12.6 18

(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.120 Federal Government Retirement Funds (1)

Billions of dollars

 1 Net acquisition of financial assets 54.7 50.4 47.8 1

 2 Credit market instruments 7.7 8.4 11.7 2

 3 Treasury securities 7.8 8.3 11.3 3

 4 Agency- and GSE-backed securities 0.0 0.1 0.3 4

 5 Corporate and foreign bonds -0.0 -0.0 0.1 5

 6 Corporate equities 7.0 6.3 2.7 6

 7 Miscellaneous assets(2) 40.0 35.8 33.3 7

 8 Pension fund reserves (liabilities) (3) 54.7 50.4 47.8 8

(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

(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.

(3) Liabilities of the sector are assets of the household sector.
24 FFA, 2005-2007, March 6, 2008

F.121 Money Market Mutual Funds (1)

Billions of dollars

2005 2006 2007

 

 1 Net acquisition of financial assets 127.0 305.3 741.0 1

 2 Foreign deposits 16.2 -10.6 50.2 2

 3 Checkable deposits and currency -1.4 7.5 -3.9 3

 4 Time and savings deposits 15.7 23.7 60.0 4

 5 Security RPs 112.0 48.7 175.3 5

 6 Credit market instruments -5.5 220.0 390.6 6

 7 Open market paper 86.3 116.1 102.9 7

 8 Treasury securities -9.6 -5.9 95.2 8

 9 Agency- and GSE-backed securities -107.4 -28.7 80.6 9

10 Municipal securities 23.0 33.5 103.2 10

11 Corporate and foreign bonds 2.2 105.1 8.8 11

12 Miscellaneous assets -10.0 15.9 68.9 12

13 Net share issues (liabilities) 127.0 305.3 741.0 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.122 Mutual Funds (1)

Billions of dollars

 1 Gross saving 15.8 29.5 35.5 1

 2 Net acquisition of financial assets 260.2 336.8 367.9 2

 3 Security RPs 2.8 17.4 9.9 3

 4 Credit market instruments 124.1 184.9 262.5 4

 5 Open market paper 2.9 17.4 10.0 5

 6 Treasury securities 6.6 5.0 14.0 6

 7 Agency- and GSE-backed securities 20.8 15.7 52.1 7

 8 Municipal securities 17.4 32.7 27.4 8

 9 Corporate and foreign bonds 76.4 114.1 159.0 9

10 Corporate equities 129.6 131.3 91.7 10

11 Miscellaneous assets 3.7 3.3 3.8 11

12 Net share issues (liabilities) 260.2 336.8 367.9 12

13 Discrepancy 15.8 29.5 35.5 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 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Net acquisition of financial assets 20.0 8.9 19.7 1

 2 Credit market instruments 1.5 6.7 0.2 2

 3 Treasury securities 0.3 0.2 -1.5 3

 4 Municipal securities 0.2 0.0 2.2 4

 5 Corporate and foreign bonds 1.0 6.4 -0.5 5

 6 Corporate equities 18.5 2.2 19.5 6

 7 Net share issues (liabilities) 20.0 8.9 19.7 7

 Exchange-traded funds

 8 Net acquisition of financial assets 56.7 74.0 150.2 8

 9 Credit market instruments 6.8 5.7 13.0 9

10 Treasury securities 4.8 3.4 6.6 10

11 Corporate and foreign bonds 1.9 2.4 6.4 11

12 Corporate equities 50.0 68.3 137.2 12

13 Net share issues (liabilities) 56.7 74.0 150.2 13
FFA, 2005-2007, March 6, 2008 25

F.124 Government-Sponsored Enterprises (1)

Billions of dollars

2005 2006 2007

 

 1 Gross saving 3.4 3.4 4.8 1

 2 Fixed nonresidential investment 0.6 0.7 0.7 2

 3 Net acquisition of financial assets -63.5 53.5 310.5 3

 4 Checkable deposits and currency -24.5 1.8 -2.6 4

 5 Time and savings deposits 12.1 -1.5 14.4 5

 6 Federal funds and security RPs 14.1 9.7 25.3 6

 7 Credit market instruments -69.1 46.6 240.9 7

 8 Open market paper 8.0 18.5 -4.1 8

 9 Treasury securities 0.2 1.2 1.1 9

10 Agency- and GSE-backed securities -135.4 -38.1 -6.8 10

11 Municipal securities -4.9 -3.6 -2.8 11

12 Corporate and foreign bonds 50.9 17.1 -17.9 12

13 Other loans and advances 52.4 33.1 238.1 13

14 Sallie Mae 0.0 0.0 0.0 14

15 Farm Credit System 8.1 11.9 6.7 15

16 FHLB loans 44.4 21.2 231.4 16

17 Mortgages -40.2 18.4 33.3 17

18 Home -53.1 2.3 -12.3 18

19 Multifamily residential 10.5 12.4 42.3 19

20 Farm 2.3 3.7 3.4 20

21 Consumer credit (2) 0.0 0.0 0.0 21

22 Miscellaneous assets 4.0 -3.2 32.5 22

23 Net increase in liabilities -81.2 45.2 301.6 23

24 Credit market instruments -84.0 35.6 282.1 24

25 GSE issues (3) -84.0 35.6 282.1 25

26 U.S. government loans 0.0 0.0 0.0 26

27 Miscellaneous liabilities 2.8 9.6 19.5 27

28 Discrepancy -14.9 -5.4 -4.7 28

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding

 Corporation. The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Sallie Mae student loans.

(3) Such issues are classified as agency- and GSE-backed securities.

F.125 Agency- and GSE-backed Mortgage Pools (1)

Billions of dollars

 1 Net acquisition of financial assets 167.3 295.4 605.8 1

 2 Home mortgages 163.4 290.9 591.9 2

 3 Multifamily residential mortgages 3.9 2.1 12.5 3

 4 Commercial mortgages 0.0 0.0 0.0 4

 5 Farm mortgages -0.1 2.3 1.4 5

 6 Net increase in pool securities (liabilities)(2) 167.3 295.4 605.8 6

(1) GNMA, Fannie Mae, Freddie Mac, 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, 2005-2007, March 6, 2008

F.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

2005 2006 2007

 

 1 Gross saving 0.5 0.4 0.4 1

 2 Fixed nonresidential investment -0.1 -0.1 -0.1 2

 3 Net acquisition of financial assets 670.7 772.9 177.4 3

 4 Treasury securities 19.7 33.4 25.0 4

 5 Agency- and GSE-backed securities (1) -31.6 40.9 38.8 5

 6 Other loans and advances -16.8 1.8 -9.8 6

 7 Mortgages (2) 669.8 591.4 172.2 7

 8 Home 558.0 484.4 24.5 8

 9 Multifamily residential 16.6 13.0 21.3 9

10 Commercial 95.2 94.0 126.4 10

11 Consumer credit 32.5 60.2 17.9 11

12 Trade credit -2.9 45.2 -66.8 12

13 Net increase in liabilities 670.0 772.4 176.9 13

14 Commercial paper 146.8 160.3 -182.0 14

15 Corporate bonds (net) (5) 523.2 612.1 358.9 15

16 Discrepancy 0.0 0.0 0.0 16

 Memo:

 Securitized assets not included above

17 Consumer leases (3) -0.6 -0.5 -0.5 17

18 REIT assets (4) 32.8 21.6 -28.4 18

(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.128.

(5) Net issuance less net acquisition of corporate bonds held as assets.

F.127 Finance Companies (1)

Billions of dollars

 1 Gross saving 61.4 75.9 78.0 1

 2 Fixed nonresidential investment 40.5 42.6 43.8 2

 3 Net acquisition of financial assets 99.0 34.4 19.9 3

 4 Checkable deposits and currency 3.7 -0.0 0.0 4

 5 Credit market instruments 117.2 89.7 6.2 5

 6 Other loans and advances 27.6 18.9 21.4 6

 7 Mortgages 65.4 53.0 -61.1 7

 8 Consumer credit 24.2 17.8 45.9 8

 9 Miscellaneous assets -21.9 -55.3 13.6 9

10 Net increase in liabilities 63.5 48.5 16.0 10

11 Credit market instruments 33.5 34.8 30.0 11

12 Open market paper -15.3 5.3 -7.4 12

13 Corporate bonds 43.6 42.4 -6.6 13

14 Bank loans n.e.c. 5.2 -12.9 44.0 14

15 Taxes payable 2.0 2.3 2.5 15

16 Miscellaneous liabilities 28.0 11.5 -16.5 16

17 Foreign direct investment in U.S. 4.2 2.6 3.8 17

18 Investment by parent 25.5 26.2 -12.7 18

19 Other -1.7 -17.3 -7.6 19

20 Discrepancy -14.6 47.5 30.3 20

 Memo:

21 Consumer leases not included above (2) 11.2 20.6 16.9 21

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (3), table F.126.
FFA, 2005-2007, March 6, 2008 27

F.128 Real Estate Investment Trusts (REITs)

Billions of dollars

2005 2006 2007

 

 1 Gross saving -12.2 -8.7 -18.8 1

 2 Fixed nonresidential investment 41.3 28.9 33.7 2

 3 Multifamily residential investment -0.6 4.1 -12.0 3

 4 Net acquisition of financial assets 76.9 73.6 -65.6 4

 5 Checkable deposits and currency 1.6 5.7 0.0 5

 6 Credit market instruments 66.9 57.5 -65.7 6

 7 Agency- and GSE-backed securities -0.5 28.6 9.0 7

 8 Corporate and foreign bonds 26.8 17.3 -51.7 8

 9 Mortgages 40.6 11.6 -23.0 9

10 Home 30.8 -3.7 -26.9 10

11 Multifamily residential 0.2 3.3 -0.0 11

12 Commercial 9.5 11.9 4.0 12

13 Miscellaneous assets 8.4 10.5 0.1 13

14 Net increase in liabilities 110.4 92.9 -21.1 14

15 Security RPs 33.0 22.8 -41.2 15

16 Credit market instruments 59.8 41.1 -4.5 16

17 Open market paper 0.0 0.0 0.0 17

18 Corporate bonds 40.6 37.2 -11.8 18

19 Bank loans n.e.c. 5.3 -3.1 3.8 19

20 Mortgages 13.9 7.0 3.6 20

21 Corporate equity issues 16.1 22.2 16.6 21

22 Miscellaneous liabilities 1.6 6.7 8.0 22

23 Discrepancy -19.3 -22.5 4.1 23

 Memo:

24 Securitized assets included above 32.8 21.6 -28.4 24

25 Agency- and GSE-backed securities 0.0 0.0 0.0 25

26 Home mortgages 28.5 3.9 -26.2 26

27 Multifamily residential mortgages 0.1 0.3 -0.0 27

28 Commercial mortgages 4.3 17.4 -2.2 28
28 FFA, 2005-2007, March 6, 2008

F.129 Security Brokers and Dealers

Billions of dollars

2005 2006 2007

 

 1 Gross saving 10.8 20.9 32.5 1

 2 Fixed nonresidential investment 12.3 13.3 13.9 2

 3 Net acquisition of financial assets 282.2 614.7 353.5 3

 4 Checkable deposits and currency -6.4 24.0 22.2 4

 5 Credit market instruments 82.3 106.2 231.9 5

 6 Open market paper 12.2 4.1 18.5 6

 7 Treasury securities -20.0 -2.4 28.4 7

 8 Agency- and GSE-backed securities -6.3 37.0 139.5 8

 9 Municipal securities 10.9 8.0 2.9 9

10 Corporate and foreign bonds 85.4 59.5 42.5 10

11 Corporate equities 20.1 -0.2 18.7 11

12 Security credit -31.6 59.7 32.8 12

13 Miscellaneous assets 217.7 425.1 48.0 13

14 Net increase in liabilities 277.0 588.2 389.4 14

15 Security RPs (net) 206.7 338.3 79.1 15

16 Corporate bonds 0.1 6.4 -4.0 16

17 Corporate equity issues 3.3 -7.6 31.9 17

18 Trade payables 7.0 5.2 -2.6 18

19 Security credit 31.8 151.8 231.3 19

20 Customer credit balances (HH) -3.0 80.4 197.8 20

21 From banks 34.8 71.5 33.5 21

22 Taxes payable -0.1 0.7 -0.6 22

23 Miscellaneous liabilities 28.6 97.8 54.2 23

24 Foreign direct investment in U.S. -0.3 -5.1 2.9 24

25 Due to affiliates 149.3 92.9 19.1 25

26 Other -120.4 10.0 32.2 26

27 Proprietors’ net investment -0.4 -4.4 0.1 27

28 Discrepancy -6.7 -18.9 54.4 28

F.130 Funding Corporations (1)

Billions of dollars

 1 Net acquisition of financial assets 239.5 107.0 249.1 1

 2 Money market fund shares 35.9 4.4 253.3 2

 3 Credit market instruments 47.5 32.8 -125.6 3

 4 Open market paper 76.8 39.9 -235.2 4

 5 Corporate and foreign bonds -29.4 -7.1 109.6 5

 6 Miscellaneous assets (2) 156.1 69.8 121.4 6

 7 Investment in foreign banking offices 21.0 8.6 43.7 7

 8 Investment in brokers and dealers 135.1 61.2 77.7 8

 9 Net increase in liabilities 239.5 107.0 249.1 9

10 Credit market instruments 106.5 35.4 92.9 10

11 Open market paper 78.9 13.8 41.3 11

12 Corporate bonds 27.6 21.6 51.5 12

13 Miscellaneous liabilities 133.0 71.6 156.3 13

14 Foreign direct investment in U.S. 49.6 34.4 28.5 14

15 Securities loaned (net) 174.9 302.6 -7.7 15

16 Other -91.5 -265.4 135.5 16

(1) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations.

(2) Due from affiliated companies.
FFA, 2005-2007, March 6, 2008 29

F.200 Gold and Official Foreign Exchange Holdings (1)

Billions of dollars

2005 2006 2007

 

 1 Total U.S. reserves -14.1 -2.4 0.2 1

 2 U.S. gold stock and SDRs -4.5 0.2 0.2 2

 3 Federal govt.: Exchange Stab. Fund -4.5 0.2 0.2 3

 4 Monetary authority (2) -0.0 -0.0 0.0 4

 5 U.S. foreign exchange position -9.6 -2.6 0.0 5

 6 Official foreign currency holdings 0.6 0.7 1.0 6

 7 Treasury 0.3 0.4 0.5 7

 8 Monetary authority 0.3 0.4 0.5 8

 9 Net IMF position -10.2 -3.3 -1.0 9

10 Federal government -10.2 -3.3 -1.0 10

11 Monetary authority 0.0 0.0 0.0 11

(1) Lines 1, 2, and 3 exclude increases in SDRs through allocations, which have occurred at various dates beginning January 1970. Transactions in SDRs are included. Also excluded from the table

 are revaluations of foreign currency holdings, gold, SDRs, and IMF position. Allocations and revaluations are included in tables on outstandings.

(2) Treasury gold stock.

F.201 SDR Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 0.0 0.0 0.0 1

 2 Asset: Monetary authority 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.8 0.6 0.7 3

 4 Asset: Monetary authority 0.1 1.7 0.6 4

 5 Discrepancy (seigniorage) 0.7 -1.1 0.1 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 67.8 98.8 265.9 1

 Held by:

 2 Household sector 4.1 5.9 19.0 2

 3 Nonfinancial corporate business 6.9 3.7 -9.3 3

 4 Money market mutual funds 16.2 -10.6 50.2 4

 5 Discrepancy--unallocated assets 40.6 99.8 206.1 5
30 FFA, 2005-2007, March 6, 2008

F.203 Net Interbank Transactions

Billions of dollars

2005 2006 2007

 

 1 Net change in liabilities -12.4 -11.2 -53.2 1

 2 Monetary authority 3.6 1.3 5.3 2

 3 Depository institution reserves -5.0 -0.3 2.1 3

 4 Vault cash 8.6 1.6 3.3 4

 5 Commercial banking -16.0 -12.5 -58.5 5

 6 To monetary authority -0.0 -1.2 48.9 6

 7 To banks in foreign countries -12.3 -9.4 -109.1 7

 8 Liabilities, net -24.7 -9.0 -102.5 8

 9 U.S.-chartered commercial banks 3.5 111.4 108.3 9

10 Due to foreign affiliates 20.2 98.8 77.8 10

11 - Due from foreign affiliates 16.8 -12.6 -30.6 11

12 Foreign banking offices in U.S. -8.6 -79.1 -168.7 12

13 Due to foreign affiliates 59.6 190.6 2.1 13

14 - Due from foreign affiliates 68.2 269.7 170.7 14

15 Bank holding companies -19.6 -41.3 -42.2 15

16 Due to foreign affiliates 9.2 -22.6 31.9 16

17 - Due from foreign affiliates 28.9 18.7 74.1 17

18 Less: Deposits at foreign banks -12.4 0.3 6.6 18

19 U.S.-chartered commercial banks -12.6 0.9 6.0 19

20 Foreign banking offices in U.S. 0.2 -0.6 0.6 20

21 To U.S. banking, net -3.7 -1.9 1.7 21

22 U.S.-chartered commercial banks 0.5 -36.6 30.8 22

23 Liabilities -11.2 12.8 16.4 23

24 To foreign offices in U.S. -7.1 14.8 15.4 24

25 To bank holding companies -0.4 -0.1 -0.7 25

26 Unallocated -3.7 -1.9 1.7 26

 Less, due from:

27 Foreign offices in U.S. -4.3 22.1 -6.3 27

28 Bank holding companies -7.4 27.3 -8.0 28

29 Foreign banking offices in U.S. 2.8 7.3 -21.8 29

30 Due to U.S. banks -4.3 22.1 -6.3 30

31 - Due from U.S. banks -7.1 14.8 15.4 31

32 Bank holding companies -6.9 27.4 -7.3 32

33 Due to U.S. banks -7.4 27.3 -8.0 33

34 - Due from U.S. banks -0.4 -0.1 -0.7 34

35 Net change in assets -8.8 -9.3 -54.8 35

36 Rest of the world -12.3 -9.4 -109.1 36

37 Domestic 3.5 0.1 54.2 37

38 Monetary authority -0.0 -1.2 48.9 38

39 Federal Reserve float -0.0 -1.2 0.3 39

40 Loans to member banks 0.0 -0.0 48.6 40

41 Commercial banking 4.1 2.0 4.8 41

42 Reserves at Federal Reserve -4.5 0.4 1.5 42

43 Vault cash 8.6 1.6 3.3 43

44 Savings insts.: Reserves at Fed. Res. -0.5 -0.7 0.6 44

45 Discrepancy--floats, etc. -3.7 -1.9 1.7 45
FFA, 2005-2007, March 6, 2008 31

F.204 Checkable Deposits and Currency

Billions of dollars

2005 2006 2007

 

 1 Net change in liabilities 3.5 -18.7 25.5 1

 2 Monetary authority 29.2 24.8 17.1 2

 3 Federal government cash and deposits -1.4 0.2 11.4 3

 4 Deposits due to foreign -0.0 0.0 -0.0 4

 5 Currency outside banks 30.6 24.5 5.6 5

 6 Commercial banking -36.4 -35.9 12.4 6

 7 Federal government deposits 7.0 -5.9 14.9 7

 8 Deposits due to foreign 6.4 9.2 4.7 8

 9 Private domestic deposits -49.8 -39.2 -7.2 9

10 Savings institutions 3.8 0.9 -0.2 10

11 Credit unions 7.0 -8.5 -3.7 11

12 Net change in assets 3.5 -18.7 25.5 12

13 Household sector -137.7 -41.1 -43.9 13

14 Nonfinancial business 138.6 -56.1 8.4 14

15 Corporate 74.0 -79.3 -12.3 15

16 Nonfarm noncorporate 63.9 21.1 18.9 16

17 Farm 0.7 2.1 1.8 17

18 State and local governments 10.3 6.0 -3.0 18

19 Federal government 12.2 -2.7 25.2 19

20 Rest of the world 25.4 21.8 15.6 20

21 Checkable deposits 6.4 9.2 4.7 21

22 Currency 19.0 12.6 10.9 22

23 Financial sectors -37.7 56.9 23.2 23

24 Commercial banking -0.5 -0.1 -0.5 24

25 Savings institutions 2.4 -3.3 -0.5 25

26 Credit unions -2.0 6.2 -1.1 26

27 Property-casualty insurance companies -4.8 8.9 4.0 27

28 Life insurance companies -5.5 8.3 1.3 28

29 Private pension funds 0.3 0.4 0.5 29

30 State and local govt. retirement funds -0.4 -2.6 3.9 30

31 Money market mutual funds -1.4 7.5 -3.9 31

32 Government-sponsored enterprises -24.5 1.8 -2.6 32

33 Finance companies 3.7 -0.0 0.0 33

34 REITs 1.6 5.7 0.0 34

35 Brokers and dealers -6.4 24.0 22.2 35

36 Mail float -7.5 -3.5 0.1 36
32 FFA, 2005-2007, March 6, 2008

F.205 Time and Savings Deposits

Billions of dollars

2005 2006 2007

 

 1 Net change in liabilities 598.9 608.2 608.1 1

 2 Small time and savings deposits 314.4 347.0 286.8 2

 3 Commercial banking 268.3 287.6 262.1 3

 4 U.S.-chartered commercial banks 262.9 277.8 253.0 4

 5 Foreign banking offices in U.S. 0.5 8.6 6.9 5

 6 Banks in U.S.-affiliated areas 4.9 1.2 2.1 6

 7 Savings institutions 34.0 28.9 -3.3 7

 8 Credit unions 12.1 30.5 28.0 8

 9 Large time deposits (1) 284.4 261.2 321.3 9

10 Commercial banking 243.1 264.0 299.2 10

11 U.S.-chartered commercial banks 166.8 129.9 23.7 11

12 Foreign banking offices in U.S. 71.4 132.8 273.4 12

13 Banks in U.S.-affiliated areas 4.9 1.2 2.1 13

14 Savings institutions 38.8 -5.2 16.7 14

15 Credit unions 2.5 2.5 5.5 15

16 Net change in assets 598.9 608.2 608.1 16

17 Household sector 470.1 507.4 451.8 17

18 Nonfinancial business 83.5 39.5 5.1 18

19 Corporate 49.9 -5.2 -53.1 19

20 Nonfarm noncorporate 33.6 44.7 58.2 20

21 State and local governments 12.8 26.2 35.9 21

22 Federal government -1.0 0.2 1.2 22

23 Rest of the world 4.6 12.9 33.2 23

24 Financial sectors 28.9 21.9 80.9 24

25 Savings institutions -0.5 3.9 3.3 25

26 Credit unions -4.5 -4.9 0.2 26

27 Private pension funds 6.2 1.1 2.9 27

28 State and local govt. retirement funds -0.1 -0.5 0.2 28

29 Money market mutual funds 15.7 23.7 60.0 29

30 Government-sponsored enterprises 12.1 -1.5 14.4 30

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Net issues 127.0 305.3 741.0 1

 2 Net purchases 127.0 305.3 741.0 2

 3 Household sector 45.2 165.2 229.0 3

 4 Nonfinancial corporate business 42.1 64.7 161.2 4

 5 Nonfarm noncorporate business 4.8 9.4 14.7 5

 6 State and local governments 4.1 5.1 3.7 6

 7 Rest of the world 0.1 3.0 7.1 7

 8 Life insurance companies -7.1 48.7 64.3 8

 9 Private pension funds 1.9 3.4 4.0 9

10 State and local govt. retirement funds 0.1 1.3 3.8 10

11 Funding corporations 35.9 4.4 253.3 11
FFA, 2005-2007, March 6, 2008 33

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

2005 2006 2007

 

 1 Net change in liabilities 350.8 496.0 77.5 1

 2 Commercial banking (net) 114.7 150.5 56.9 2

 3 U.S.-chartered commercial banks 81.4 101.4 70.5 3

 4 Foreign banking offices in U.S. 33.4 49.0 -13.6 4

 5 Bank holding companies -0.2 0.1 0.1 5

 6 Savings institutions -3.6 -15.5 -17.3 6

 7 REITs 33.0 22.8 -41.2 7

 8 Brokers and dealers (net) 206.7 338.3 79.1 8

 9 Net change in assets 216.6 198.0 307.3 9

10 Nonfinancial corporate business 8.1 0.9 -1.4 10

11 State and local governments 8.1 7.1 0.5 11

12 Rest of the world 48.2 109.4 70.7 12

13 Financial sectors 152.1 80.7 237.6 13

14 Monetary authority 13.8 -6.0 5.8 14

15 Savings institutions -0.1 9.3 27.3 15

16 Credit unions 2.6 -1.6 -2.6 16

17 Property-casualty insurance companies 5.9 -2.9 -19.4 17

18 Private pension funds 1.7 3.2 9.5 18

19 State and local govt. retirement funds -0.6 3.0 6.6 19

20 Money market mutual funds 112.0 48.7 175.3 20

21 Mutual funds 2.8 17.4 9.9 21

22 Government-sponsored enterprises 14.1 9.7 25.3 22

23 Discrepancy--unallocated assets 134.2 298.0 -229.9 23

F.208 Open Market Paper

Billions of dollars

 1 Total net issues, all types 245.1 317.1 -169.4 1

 2 Commercial paper 245.1 317.4 -169.4 2

 3 Nonfinancial corporate business -7.9 23.4 10.5 3

 4 Foreign issues in U.S. 38.5 93.1 -66.0 4

 5 Nonfinancial 15.7 -1.9 11.5 5

 6 Financial 22.8 95.0 -77.6 6

 7 Financial sectors 214.5 201.0 -113.9 7

 8 Commercial banking 4.0 21.7 34.1 8

 9 ABS issuers 146.8 160.3 -182.0 9

10 Finance companies -15.3 5.3 -7.4 10

11 REITs 0.0 0.0 0.0 11

12 Funding corporations 78.9 13.8 41.3 12

13 Bankers acceptances (1) 0.0 -0.3 0.0 13

14 Net purchases, by sector 245.1 317.1 -169.4 14

15 Household sector 28.1 23.4 -28.0 15

16 Nonfinancial corporate business 16.0 15.5 -31.4 16

17 State and local governments 10.6 13.2 -7.8 17

18 Rest of the world 9.9 48.0 4.7 18

19 Monetary authority 0.0 0.0 0.0 19

20 Commercial banking (1) 0.0 0.0 0.0 20

21 Savings institutions 0.0 0.0 0.0 21

22 Credit unions -0.0 0.2 -0.5 22

23 Life insurance companies -8.0 12.9 -11.3 23

24 Private pension funds 2.2 3.1 1.2 24

25 State and local govt. retirement funds 0.1 4.9 11.7 25

26 Money market mutual funds 86.3 116.1 102.9 26

27 Mutual funds 2.9 17.4 10.0 27

28 Government-sponsored enterprises 8.0 18.5 -4.1 28

29 Brokers and dealers 12.2 4.1 18.5 29

30 Funding corporations 76.8 39.9 -235.2 30

(1) Excludes banks’ holdings of own acceptances.
34 FFA, 2005-2007, March 6, 2008

F.209 Treasury Securities

Billions of dollars

2005 2006 2007

 

 1 Net issues 307.3 183.7 237.5 1

 2 Savings bonds 0.7 -2.7 -6.0 2

 3 Other Treasury issues 306.6 186.4 243.4 3

 4 Net purchases 307.3 183.7 237.5 4

 5 Household sector -95.7 -68.6 -181.4 5

 6 Savings bonds 0.7 -2.7 -6.0 6

 7 Other Treasury issues -96.4 -65.9 -175.4 7

 8 Nonfinancial corporate business 17.6 -6.3 6.3 8

 9 Nonfarm noncorporate business 6.0 7.1 6.0 9

10 State and local governments 74.0 34.6 27.2 10

11 Rest of the world 260.7 139.7 209.0 11

12 Monetary authority 26.4 34.7 -38.3 12

13 Commercial banking -10.7 -1.9 17.3 13

14 U.S.-chartered commercial banks -10.1 -2.2 11.1 14

15 Foreign banking offices in U.S. 0.2 -0.8 3.5 15

16 Bank holding companies -0.9 1.4 4.6 16

17 Banks in U.S.-affiliated areas 0.1 -0.2 -1.9 17

18 Savings institutions 4.0 0.1 -5.4 18

19 Credit unions -1.1 -0.3 -0.5 19

20 Property-casualty insurance companies -2.0 6.6 2.5 20

21 Life insurance companies 12.7 -8.0 2.9 21

22 Private pension funds 3.0 3.6 2.9 22

23 State and local govt. retirement funds 2.8 -0.8 8.8 23

24 Federal government retirement funds 7.8 8.3 11.3 24

25 Money market mutual funds -9.6 -5.9 95.2 25

26 Mutual funds 6.6 5.0 14.0 26

27 Closed-end funds 0.3 0.2 -1.5 27

28 Exchange-traded funds 4.8 3.4 6.6 28

29 Government-sponsored enterprises 0.2 1.2 1.1 29

30 ABS issuers 19.7 33.4 25.0 30

31 Brokers and dealers -20.0 -2.4 28.4 31

 Memo:

32 Federal government borrowing (1) 306.9 183.4 237.1 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, 2005-2007, March 6, 2008 35

F.210 Agency- and GSE-backed Securities (1)

Billions of dollars

2005 2006 2007

 

 1 Net issues 82.8 330.6 887.6 1

 2 Budget agencies -0.4 -0.3 -0.4 2

 3 Government-sponsored enterprises -84.0 35.6 282.1 3

 4 Agency- and GSE-backed mortgage pools 167.3 295.4 605.8 4

 5 Net purchases 82.8 330.6 887.6 5

 6 Household sector 84.3 -28.8 428.3 6

 7 Nonfinancial corporate business 6.5 -2.3 2.3 7

 8 State and local governments 23.1 20.6 12.4 8

 9 Federal government 0.0 0.0 0.0 9

10 Rest of the world 150.3 228.5 189.4 10

11 Monetary authority 0.0 0.0 0.0 11

12 Commercial banking -5.5 45.7 -112.9 12

13 U.S.-chartered commercial banks -3.3 47.5 -111.4 13

14 Foreign banking offices in U.S. -0.9 3.9 2.1 14

15 Bank holding companies -2.3 -0.0 -1.3 15

16 Banks in U.S.-affiliated areas 1.2 -5.8 -2.4 16

17 Savings institutions 55.8 -23.0 -0.6 17

18 Credit unions -6.8 -13.9 -5.1 18

19 Property-casualty insurance companies 5.8 4.1 5.7 19

20 Life insurance companies 11.4 8.8 15.9 20

21 Private pension funds 18.6 -1.3 14.4 21

22 State and local govt. retirement funds -0.4 36.7 24.3 22

23 Federal government retirement funds 0.0 0.1 0.3 23

24 Money market mutual funds -107.4 -28.7 80.6 24

25 Mutual funds 20.8 15.7 52.1 25

26 Government-sponsored enterprises -135.4 -38.1 -6.8 26

27 ABS issuers -31.6 40.9 38.8 27

28 REITs -0.5 28.6 9.0 28

29 Brokers and dealers -6.3 37.0 139.5 29

(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 Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, 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, 2005-2007, March 6, 2008

F.211 Municipal Securities and Loans

Billions of dollars

2005 2006 2007

 

 1 Net change in liabilities 195.0 177.3 214.6 1

 2 State and local governments 171.1 150.5 183.5 2

 3 Short-term (1) 5.7 -3.1 17.3 3

 4 Long-term 165.3 153.6 166.3 4

 5 Nonprofit organizations (2) 16.5 21.8 23.3 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) 7.4 5.0 7.7 6

 7 Net change in assets 195.0 177.3 214.6 7

 8 Household sector 78.7 44.6 50.0 8

 9 Nonfinancial corporate business 0.3 8.3 -0.3 9

10 Nonfarm noncorporate business 0.1 0.6 0.7 10

11 State and local governments 0.3 0.4 0.3 11

12 Rest of the world 3.0 2.0 2.0 12

13 Commercial banking 16.9 22.6 12.0 13

14 Savings institutions 1.5 2.1 -0.1 14

15 Property-casualty insurance companies 45.4 22.1 16.4 15

16 Life insurance companies 2.4 4.1 1.7 16

17 State and local govt. retirement funds -0.2 0.1 -1.0 17

18 Money market mutual funds 23.0 33.5 103.2 18

19 Mutual funds 17.4 32.7 27.4 19

20 Closed-end funds 0.2 0.0 2.2 20

21 Government-sponsored enterprises -4.9 -3.6 -2.8 21

22 Brokers and dealers 10.9 8.0 2.9 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 800.9 1162.1 961.9 1

 2 Nonfinancial corporate business 53.6 213.4 314.1 2

 3 Rest of the world (1) 54.5 150.9 141.9 3

 4 Financial sectors 692.8 797.8 506.0 4

 5 Commercial banking 56.7 76.0 118.2 5

 6 Savings institutions 1.0 2.0 -0.3 6

 7 ABS issuers (net) (3) 523.2 612.1 358.9 7

 8 Finance companies 43.6 42.4 -6.6 8

 9 REITs 40.6 37.2 -11.8 9

10 Brokers and dealers 0.1 6.4 -4.0 10

11 Funding corporations 27.6 21.6 51.5 11

12 Net purchases 800.9 1162.1 961.9 12

13 Household sector -24.9 193.9 66.0 13

14 State and local governments 7.3 8.1 6.8 14

15 Rest of the world (2) 328.5 438.9 301.4 15

16 Commercial banking 123.4 93.3 198.5 16

17 Savings institutions 21.0 9.0 49.1 17

18 Credit unions -1.5 7.2 3.9 18

19 Property-casualty insurance companies 17.5 14.2 12.4 19

20 Life insurance companies 78.9 36.1 68.4 20

21 Private pension funds 20.9 8.9 16.1 21

22 State and local govt. retirement funds 14.5 37.6 -16.9 22

23 Federal government retirement funds -0.0 -0.0 0.1 23

24 Money market mutual funds 2.2 105.1 8.8 24

25 Mutual funds 76.4 114.1 159.0 25

26 Closed-end funds 1.0 6.4 -0.5 26

27 Exchange-traded funds 1.9 2.4 6.4 27

28 Government-sponsored enterprises 50.9 17.1 -17.9 28

29 REITs 26.8 17.3 -51.7 29

30 Brokers and dealers 85.4 59.5 42.5 30

31 Funding corporations -29.4 -7.1 109.6 31

(1) Net purchases of foreign issues by U.S. residents.

(2) Net purchases of U.S. issues by foreign residents.

(3) Net issuance less net acquisition of corporate bonds held as assets.
FFA, 2005-2007, March 6, 2008 37

F.213 Corporate Equities (1)

Billions of dollars

2005 2006 2007

 

 1 Net issues -149.3 -417.2 -567.1 1

 2 Nonfinancial corporate business -363.4 -614.1 -836.6 2

 3 Rest of the world (2) 142.6 138.5 110.2 3

 4 Financial sectors 71.5 58.4 159.3 4

 5 Commercial banking -13.8 -10.5 -23.8 5

 6 Property-casualty insurance companies -2.8 -8.5 -11.8 6

 7 Life insurance companies -8.0 -20.0 -23.5 7

 8 Closed-end funds 20.0 8.9 19.7 8

 9 Exchange-traded funds 56.7 74.0 150.2 9

10 REITs 16.1 22.2 16.6 10

11 Brokers and dealers 3.3 -7.6 31.9 11

12 Net purchases -149.3 -417.2 -567.1 12

13 Household sector -467.4 -761.0 -988.6 13

14 State and local governments 1.2 -6.4 0.8 14

15 Rest of the world (3) 56.9 120.2 182.1 15

16 Commercial banking 0.1 0.7 1.6 16

17 Savings institutions -1.0 -1.0 -0.1 17

18 Property-casualty insurance companies -6.1 2.3 3.9 18

19 Life insurance companies 65.9 71.4 88.6 19

20 Private pension funds -18.5 -9.9 -100.2 20

21 State and local govt. retirement funds -5.6 -41.2 -25.1 21

22 Federal government retirement funds 7.0 6.3 2.7 22

23 Mutual funds 129.6 131.3 91.7 23

24 Closed-end funds 18.5 2.2 19.5 24

25 Exchange-traded funds 50.0 68.3 137.2 25

26 Brokers and dealers 20.1 -0.2 18.7 26

(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 260.2 336.8 367.9 1

 2 Net purchases 260.2 336.8 367.9 2

 3 Household sector 228.5 236.7 307.1 3

 4 Nonfinancial corporate business 6.7 32.9 32.9 4

 5 State and local governments 0.4 -2.0 0.2 5

 6 Rest of the world 32.2 25.3 15.4 6

 7 Commercial banking -1.8 3.9 3.7 7

 8 Credit unions -1.0 -0.1 -0.0 8

 9 Property-casualty insurance companies 0.3 0.5 0.4 9

10 Life insurance companies -9.9 26.9 8.0 10

11 Private pension funds 10.2 11.4 4.1 11

12 State and local govt. retirement funds -5.5 1.3 -3.7 12

(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, 2005-2007, March 6, 2008

F.215 Bank Loans Not Elsewhere Classified

Billions of dollars

2005 2006 2007

 

 Total loans by commercial

 1 banking, flow of funds basis 569.1 673.8 668.9 1

 - Loans elsewhere classified:

 2 Open market paper 0.0 0.0 0.0 2

 3 Mortgages 362.4 445.0 230.2 3

 4 Consumer credit 2.8 34.2 63.4 4

 5 Security credit 34.8 71.5 33.5 5

 6 = Banking sector total bank loans n.e.c. 169.1 123.1 341.8 6

 7 U.S.-chartered commercial banks 100.0 59.3 238.0 7

 8 Foreign banking offices in U.S. 60.7 67.1 105.0 8

 9 Bank holding companies 2.7 -2.9 0.7 9

10 Banks in U.S.-affiliated areas 5.6 -0.3 -1.9 10

11 + Loans from Federal Reserve banks 0.0 0.0 0.0 11

12 = Total bank loans n.e.c. 169.1 123.1 341.8 12

13 Net change in liabilities 169.1 123.1 341.8 13

14 Nonfinancial sectors 152.1 187.2 287.5 14

15 Household sector 12.8 48.0 34.4 15

16 Corporate business -35.6 55.2 99.2 16

17 Nonfarm noncorporate business 158.1 66.9 127.3 17

18 Farm business 2.2 3.3 2.3 18

19 Rest of the world 14.5 13.8 24.2 19

20 Foreign official institutions -2.9 -0.7 -0.0 20

21 Foreign banks 4.7 3.8 8.3 21

22 Other foreign 12.7 10.7 16.0 22

23 Financial sectors 17.0 -64.1 54.3 23

24 Savings institutions 6.5 -48.2 6.5 24

25 Finance companies 5.2 -12.9 44.0 25

26 REITs 5.3 -3.1 3.8 26
FFA, 2005-2007, March 6, 2008 39

F.216 Other Loans and Advances

Billions of dollars

2005 2006 2007

 

 1 Total other loans and advances 87.4 61.1 348.2 1

 2 U.S. government loans -8.8 -1.5 2.1 2

 3 Liab.: Household sector -0.8 0.4 0.4 3

 4 Nonfinancial corporate business 0.8 0.8 0.5 4

 5 Nonfarm noncorporate business -4.4 4.2 3.0 5

 6 Farm business -0.3 -0.1 -0.1 6

 7 State and local governments 0.5 0.6 0.7 7

 8 Rest of the world -4.6 -7.4 -2.4 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 9

10 Foreign loans to U.S. corporate business 28.3 -0.2 85.1 10

11 Liab.: Nonfinancial corporate business 28.3 -0.2 85.1 11

 Customers liability on acceptances

12 outstanding (Commercial banking asset) 0.0 -0.3 0.0 12

13 Liab.: Nonfinancial corporate business 0.0 -0.3 -0.1 13

14 Rest of the world -0.0 -0.1 0.1 14

15 Savings institution loans to business 3.9 6.0 6.2 15

16 Liab.: Nonfinancial corporate business 1.9 3.0 3.1 16

17 Nonfarm noncorporate business 1.9 3.0 3.1 17

18 Policy loans (Household liability) 0.8 3.3 4.9 18

19 Asset: Federal government -0.0 -0.0 -0.0 19

20 Life insurance companies 0.8 3.4 5.0 20

21 Govt.-sponsored enterprises loans 52.4 33.1 238.1 21

22 Liab.: Household sector (SLMA) 0.0 0.0 0.0 22

23 Noncorporate business (FCS) 1.9 4.2 2.3 23

24 Farm business (FCS) 6.1 7.7 4.4 24

25 Commercial banks (FHLB and SLMA) 24.4 80.0 106.6 25

26 Savings institutions (FHLB and SLMA) 16.2 -65.7 96.9 26

27 Credit unions (FHLB) 3.3 4.2 13.5 27

28 Life insurance companies (FHLB) 0.4 2.7 14.5 28

29 Securitized loans held by ABS issuers -16.8 1.8 -9.8 29

30 Liab.: Nonfinancial corporate business -16.8 1.8 -9.8 30

31 Finance company loans to business 27.6 18.9 21.4 31

32 Liab.: Nonfinancial corporate business 24.9 17.0 19.3 32

33 Nonfarm noncorporate business 2.8 1.9 2.1 33
40 FFA, 2005-2007, March 6, 2008

F.217 Total Mortgages

Billions of dollars

2005 2006 2007

 

 1 Net change in mortgages 1431.4 1404.1 1056.7 1

 2 Home 1103.7 1069.7 691.8 2

 3 Multifamily residential 69.8 52.9 90.5 3

 4 Commercial 253.2 274.0 266.0 4

 5 Farm 4.6 7.5 8.5 5

 6 Net borrowing 1431.4 1404.1 1056.7 6

 7 Household sector 1054.9 1016.4 681.7 7

 8 Nonfinancial business 362.6 380.7 371.4 8

 9 Corporate 186.8 106.6 97.6 9

10 Nonfarm noncorporate 171.2 266.6 265.3 10

11 Farm 4.6 7.5 8.5 11

12 Federal government 0.0 0.0 0.0 12

13 REITs 13.9 7.0 3.6 13

14 Net change in assets 1431.4 1404.1 1056.7 14

15 Household sector 6.8 3.0 5.8 15

16 Nonfinancial corporate business 1.7 1.7 1.7 16

17 Nonfarm noncorporate business 5.3 4.6 5.5 17

18 State and local governments 8.7 7.8 9.4 18

19 Federal government 2.4 3.7 1.9 19

20 Commercial banking 362.4 445.0 230.2 20

21 Savings institutions (1) 95.3 -78.8 21.3 21

22 Credit unions 32.4 31.0 34.1 22

23 Property-casualty insurance companies 0.3 0.7 1.1 23

24 Life insurance companies 12.1 18.3 19.3 24

25 Private pension funds -0.2 -0.3 0.1 25

26 State and local govt. retirement funds 1.3 -2.3 -0.9 26

27 Government-sponsored enterprises (1) -40.2 18.4 33.3 27

28 Agency- and GSE-backed mortgage pools 167.3 295.4 605.8 28

29 ABS issuers 669.8 591.4 172.2 29

30 Finance companies 65.4 53.0 -61.1 30

31 REITs 40.6 11.6 -23.0 31

(1) FHLB loans to savings institutions are included in other loans and advances.
FFA, 2005-2007, March 6, 2008 41

F.218 Home Mortgages (1)

Billions of dollars

2005 2006 2007

 

 1 Net borrowing 1103.7 1069.7 691.8 1

 2 Household sector 1028.5 987.8 654.8 2

 3 Nonfinancial corporate business 7.6 8.2 2.1 3

 4 Nonfarm noncorporate business 67.6 73.7 35.0 4

 5 Net change in assets 1103.7 1069.7 691.8 5

 6 Household sector 6.1 6.1 6.1 6

 7 Nonfinancial corporate business 0.6 0.6 0.6 7

 8 Nonfarm noncorporate business 1.9 1.7 2.0 8

 9 State and local governments 4.5 4.0 4.8 9

10 Federal government -0.4 0.2 0.3 10

11 Commercial banking 212.0 288.7 119.6 11

12 Savings institutions 79.6 -86.0 11.1 12

13 Credit unions 32.4 31.0 34.1 13

14 Life insurance companies -0.4 2.1 0.6 14

15 Private pension funds -0.0 -0.1 -0.1 15

16 State and local govt. retirement funds 0.5 -0.8 -0.3 16

17 Government-sponsored enterprises -53.1 2.3 -12.3 17

18 Agency- and GSE-backed mortgage pools 163.4 290.9 591.9 18

19 ABS issuers 558.0 484.4 24.5 19

20 Finance companies 67.8 48.3 -64.0 20

21 REITs 30.8 -3.7 -26.9 21

 Memo:

22 Home equity loans included above (2) 138.2 147.5 60.5 22

23 Commercial banking 65.5 104.6 38.6 23

24 Savings institutions 30.4 -14.1 39.4 24

25 Credit unions 12.0 11.0 6.6 25

26 ABS issuers 16.1 36.3 -11.3 26

27 Finance companies 14.3 9.7 -12.8 27

(1) Mortgages on 1-4 family properties including mortages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing 69.8 52.9 90.5 1

 2 Nonfinancial corporate business 1.9 2.0 1.7 2

 3 Nonfarm noncorporate business 69.8 50.1 92.3 3

 4 Federal government 0.0 0.0 0.0 4

 5 REITs -1.9 0.8 -3.6 5

 6 Net change in assets 69.8 52.9 90.5 6

 7 Household sector 0.0 0.1 0.1 7

 8 Nonfinancial corporate business 0.0 0.0 0.1 8

 9 Nonfarm noncorporate business 1.9 1.6 1.9 9

10 State and local governments 3.5 3.1 3.8 10

11 Federal government -0.0 -0.2 -0.3 11

12 Commercial banking 20.0 18.9 9.5 12

13 Savings institutions 10.8 -2.6 -3.1 13

14 Life insurance companies 2.0 2.3 2.8 14

15 Private pension funds -0.0 -0.1 0.1 15

16 State and local govt. retirement funds 0.4 -0.7 -0.3 16

17 Government-sponsored enterprises 10.5 12.4 42.3 17

18 Agency- and GSE-backed mortgage pools 3.9 2.1 12.5 18

19 ABS issuers 16.6 13.0 21.3 19

20 Finance companies 0.0 -0.5 -0.1 20

21 REITs 0.2 3.3 -0.0 21
42 FFA, 2005-2007, March 6, 2008

F.220 Commercial Mortgages

Billions of dollars

2005 2006 2007

 

 1 Net borrowing 253.2 274.0 266.0 1

 2 Household sector 26.4 28.5 26.9 2

 3 Nonfinancial corporate business 177.3 96.4 93.9 3

 4 Nonfarm noncorporate business 33.8 142.8 138.0 4

 5 REITs 15.8 6.3 7.1 5

 6 Net change in assets 253.2 274.0 266.0 6

 7 Household sector 0.7 0.7 0.7 7

 8 Nonfinancial corporate business 1.0 1.0 1.0 8

 9 Nonfarm noncorporate business 1.3 1.2 1.4 9

10 State and local governments 0.7 0.6 0.8 10

11 Federal government 2.8 3.7 1.9 11

12 Commercial banking 128.7 133.8 98.0 12

13 Savings institutions 4.9 9.7 13.1 13

14 Property-casualty insurance companies 0.3 0.7 1.1 14

15 Life insurance companies 10.2 12.5 14.8 15

16 Private pension funds -0.1 -0.2 0.2 16

17 State and local govt. retirement funds 0.5 -0.8 -0.3 17

18 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 18

19 ABS issuers 95.2 94.0 126.4 19

20 Finance companies -2.4 5.2 2.9 20

21 REITs 9.5 11.9 4.0 21

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing (Farm business) 4.6 7.5 8.5 1

 2 Net change in assets 4.6 7.5 8.5 2

 3 Household sector 0.0 -3.9 -1.1 3

 4 Nonfarm noncorporate business 0.2 0.2 0.2 4

 5 State and local governments 0.1 0.1 0.1 5

 6 Federal government -0.0 -0.0 0.1 6

 7 Commercial banking 1.7 3.6 3.1 7

 8 Savings institutions 0.0 0.1 0.1 8

 9 Life insurance companies 0.4 1.4 1.1 9

10 State and local govt. retirement funds 0.0 0.0 0.0 10

11 Government-sponsored enterprises 2.3 3.7 3.4 11

12 Agency- and GSE-backed mortgage pools -0.1 2.3 1.4 12

(1) Excludes mortgages on farm houses.
FFA, 2005-2007, March 6, 2008 43

F.222 Consumer Credit

Billions of dollars

2005 2006 2007

 

 1 Net change in liabilities (Households) 94.5 104.4 132.3 1

 2 Net change in assets 94.5 104.4 132.3 2

 3 Nonfinancial corporate business 0.2 -2.1 -1.5 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 4

 5 Federal government 3.7 1.9 6.5 5

 6 Commercial banking 2.8 34.2 63.4 6

 7 Savings institutions 17.8 -13.5 -4.6 7

 8 Credit unions 13.2 5.9 4.8 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 9

10 ABS issuers 32.5 60.2 17.9 10

11 Finance companies 24.2 17.8 45.9 11

F.223 Trade Credit

Billions of dollars

 1 Net change in trade payables 336.6 166.5 175.1 1

 2 Household sector 9.0 9.0 9.0 2

 3 Nonfinancial corporate business 199.4 72.8 72.6 3

 4 Nonfarm noncorporate business 52.0 30.1 35.8 4

 5 Farm business -2.5 -4.3 -1.0 5

 6 State and local governments 32.7 35.5 38.8 6

 7 Federal government 32.6 12.0 10.4 7

 8 Rest of the world 6.3 6.2 12.1 8

 9 Brokers and dealers 7.0 5.2 -2.6 9

10 Net change in trade receivables 369.2 228.1 132.3 10

11 Nonfinancial corporate business 277.7 106.3 105.8 11

12 Nonfarm noncorporate business 66.6 54.8 65.3 12

13 State and local governments 8.3 10.3 7.5 13

14 Federal government 9.1 0.4 0.2 14

15 Rest of the world 7.9 6.2 16.9 15

16 Property-casualty insurance companies 2.4 4.9 3.5 16

17 ABS issuers -2.9 45.2 -66.8 17

18 Discrepancy -32.6 -61.6 42.8 18

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities 0.2 211.5 264.0 1

 2 Household sector -31.6 59.7 32.8 2

 3 Rest of the world 0.0 0.0 0.0 3

 4 Brokers and dealers 31.8 151.8 231.3 4

 5 Customer credit balances (HH) -3.0 80.4 197.8 5

 6 From U.S.-chartered commercial banks -6.6 20.9 30.5 6

 7 From foreign banking offices in U.S. 41.4 50.6 3.0 7

 8 Net change in assets 0.2 211.5 264.0 8

 9 Household sector -3.0 80.4 197.8 9

10 Rest of the world 0.0 0.0 0.0 10

11 Commercial banking 34.8 71.5 33.5 11

12 Brokers and dealers -31.6 59.7 32.8 12
44 FFA, 2005-2007, March 6, 2008

F.225 Life Insurance and Pension Fund Reserves

Billions of dollars

2005 2006 2007

 

 Life insurance reserves:

 1 Net change in liabilities 16.1 65.6 27.4 1

 2 Federal government 1.1 1.5 1.2 2

 3 Life insurance companies 14.9 64.1 26.3 3

 4 Net change in assets (Households) 16.1 65.6 27.4 4

 Pension fund reserves:

 5 Net change in liabilities 238.3 198.2 124.4 5

 6 Life insurance companies 159.3 103.7 132.1 6

 7 Private pension funds (1) 18.9 6.8 -68.1 7

 8 State and local govt. retirement funds 5.4 37.3 12.6 8

 9 Federal government retirement funds (2) 54.7 50.4 47.8 9

10 Net change in assets (Households) (3) 238.3 198.2 124.4 10

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other 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 28.1 19.9 24.0 1

 businesses

 2 Nonfinancial corporate business 5.1 -1.0 1.3 2

 3 Nonfarm noncorporate business 8.7 5.6 6.6 3

 4 U.S.-chartered commercial banks 3.4 3.7 4.0 4

 5 Savings institutions 0.7 -0.5 0.1 5

 6 Property-casualty insurance companies 4.7 5.2 5.7 6

 7 Life insurance companies 3.6 4.0 4.4 7

 8 Finance companies 2.0 2.3 2.5 8

 9 Brokers and dealers -0.1 0.7 -0.6 9

10 Net change in business taxes receivable 46.3 18.0 55.3 10

11 State and local governments 41.8 46.3 52.1 11

12 Federal government 4.4 -28.3 3.2 12

13 Discrepancy -18.1 1.9 -31.4 13

F.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment -137.8 -51.5 -57.1 1

 2 Nonfarm noncorporate business -137.1 -46.8 -59.6 2

 3 Farm business -0.3 -0.4 2.4 3

 4 Brokers and dealers -0.4 -4.4 0.1 4
FFA, 2005-2007, March 6, 2008 45

F.228 Total Miscellaneous Financial Claims

Billions of dollars

2005 2006 2007

 

 1 Net change in liabilities 1389.1 1133.1 1780.8 1

 2 Household sector 1.0 0.5 1.2 2

 3 Nonfinancial corporate business 876.7 308.4 552.0 3

 4 Nonfarm noncorporate business 142.8 39.3 39.1 4

 5 Federal government 62.8 62.1 81.7 5

 6 Rest of the world -50.3 308.9 506.7 6

 7 Monetary authority 3.4 1.1 17.7 7

 8 Commercial banking 60.3 118.6 289.3 8

 9 Savings institutions 40.8 27.6 -4.0 9

10 Credit unions 2.6 -2.7 -3.9 10

11 Property-casualty insurance companies 51.6 24.2 29.5 11

12 Life insurance companies 3.6 47.9 50.1 12

13 Government-sponsored enterprises 2.8 9.6 19.5 13

14 Finance companies 28.0 11.5 -16.5 14

15 REITs 1.6 6.7 8.0 15

16 Brokers and dealers 28.6 97.8 54.2 16

17 Funding corporations 133.0 71.6 156.3 17

18 Net change in assets 1180.7 1437.4 1597.7 18

19 Household sector 52.8 40.1 78.1 19

20 Nonfinancial corporate business 450.0 236.1 332.3 20

21 Nonfarm noncorporate business 203.0 160.1 174.8 21

22 Farm business 1.3 4.1 3.4 22

23 State and local governments -23.0 -41.0 -12.7 23

24 Federal government -1.4 1.0 1.8 24

25 Rest of the world 84.6 483.6 560.4 25

26 Monetary authority -3.2 0.1 25.7 26

27 Commercial banking 67.4 57.7 143.0 27

28 Savings institutions -58.7 15.7 3.2 28

29 Credit unions -0.3 0.8 10.2 29

30 Property-casualty insurance companies 6.1 0.2 12.4 30

31 Life insurance companies 31.7 -6.0 -34.2 31

32 Private pension funds -26.9 -16.4 -23.1 32

33 State and local govt. retirement funds -0.6 -0.3 0.9 33

34 Federal government retirement funds 40.0 35.8 33.3 34

35 Money market mutual funds -10.0 15.9 68.9 35

36 Mutual funds 3.7 3.3 3.8 36

37 Government-sponsored enterprises 4.0 -3.2 32.5 37

38 Finance companies -21.9 -55.3 13.6 38

39 REITs 8.4 10.5 0.1 39

40 Brokers and dealers 217.7 425.1 48.0 40

41 Funding corporations 156.1 69.8 121.4 41

42 Discrepancy 208.4 -304.2 183.1 42
46 FFA, 2005-2007, March 6, 2008

F.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

2005 2006 2007

 

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world -7.7 235.4 280.5 1

 2 Equity 43.4 30.2 52.2 2

 3 Reinvested earnings -20.4 220.1 253.9 3

 4 Intercompany accounts -30.7 -15.0 -25.6 4

 5 Asset: Nonfinancial corporate business -15.8 212.0 190.6 5

 6 Commercial banking 0.3 2.4 23.8 6

 7 Property-casualty insurance companies 6.1 0.2 12.4 7

 8 Life insurance companies 3.8 1.9 7.2 8

 9 Finance companies -5.8 14.6 37.4 9

10 Brokers and dealers 3.7 4.3 9.1 10

 Foreign direct investment in U.S. (1):

11 Liab.: Nonfinancial corporate business 42.9 104.8 154.9 11

12 Nonfarm noncorporate business 0.1 0.1 0.4 12

13 Commercial banking 9.8 15.4 33.1 13

14 Property-casualty insurance companies -0.7 7.6 4.4 14

15 Life insurance companies 3.4 20.8 7.0 15

16 Finance companies 4.2 2.6 3.8 16

17 Brokers and dealers -0.3 -5.1 2.9 17

18 Funding corporations 49.6 34.4 28.5 18

19 Asset: Rest of the world 109.0 180.6 235.1 19

20 Equity 56.6 98.0 169.9 20

21 Reinvested earnings 47.7 70.6 83.1 21

22 Intercompany accounts 4.7 12.0 -17.9 22

 Federal government equity in IBRD, etc.:

23 Liab.: Rest of the world 1.3 2.0 2.5 23

24 Asset: Federal government 1.3 2.0 2.5 24

 Federal Reserve Bank stock:

25 Liab.: Monetary authority 1.6 1.8 3.1 25

26 Asset: Commercial banking 1.6 1.8 3.1 26

 Equity in govt.-sponsored enterprises:

27 Liab.: Government-sponsored enterprises 1.9 0.2 9.0 27

28 Asset: Nonfin. corporate business (Fannie Mae) 0.0 0.0 0.0 28

29 Nonfarm noncorporate (BC) -0.1 0.1 0.3 29

30 Farm business (FICB and FLB) 0.1 0.2 0.5 30

31 Federal government 0.0 0.0 0.0 31

32 Commercial banks (FHLB) 0.8 2.7 3.8 32

33 Savings institutions (FHLB) 1.1 -2.9 3.3 33

34 Credit unions (FHLB) 0.1 0.2 0.6 34

35 Life insurance companies (FHLB) -0.1 0.0 0.6 35

 BHC investment in subsidiaries:

36 Liab.: Commercial banking 40.0 110.0 126.3 36

37 Savings institutions 1.3 1.4 1.6 37

38 Finance companies 27.3 13.1 -6.3 38

39 Brokers and dealers 14.2 31.7 -58.6 39

40 Asset: Bank holding companies 82.7 156.2 62.9 40

 NFC investment in finance company subs.:

41 Liab.: Finance companies -1.7 13.0 -6.3 41

42 Asset: Nonfinancial corporate business -1.7 13.0 -6.3 42

 Funding corp. investment in subs.:

43 Liab.: Foreign banking offices in U.S. 21.0 8.6 43.7 43

44 Brokers and dealers 135.1 61.2 77.7 44

45 Asset: Funding corporations 156.1 69.8 121.4 45

(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, 2005-2007, March 6, 2008 47

F.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

2005 2006 2007

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -2.2 -0.0 -0.1 1

 2 Asset: Federal government -2.2 -0.0 -0.1 2

 Postal Savings System deposits:

 3 Liab.: Federal government 0.0 0.0 0.0 3

 4 Asset: Household sector 0.0 0.0 0.0 4

 Deposits at Federal Home Loan Banks:

 5 Liab.: Government-sponsored enterprises 0.8 -0.2 3.1 5

 6 Asset: Savings institutions 0.8 -0.2 3.1 6

 Deferred and unpaid life insurance premiums:

 7 Liab.: Household sector 1.0 0.5 1.2 7

 8 Asset: Life insurance companies 1.0 0.5 1.2 8

 Life insurance company reserves:

 9 Liab.: Life insurance companies 9.5 14.8 19.1 9

10 Health 7.9 11.5 12.5 10

11 Policy dividend accumulation 1.0 0.8 2.5 11

12 Policy and contract claims 0.6 2.5 4.0 12

13 Asset: Household sector 9.5 14.8 19.1 13

 Policy payables:

14 Liab.: Property-casualty insurance companies 52.3 16.6 25.1 14

15 Asset: Household sector 25.6 4.6 10.0 15

16 Nonfinancial corporate business 20.7 6.6 10.0 16

17 Nonfarm noncorporate business 4.9 1.6 2.1 17

18 Farm business 1.2 3.9 2.9 18

 Unallocated insurance company contracts:

19 Liab.: Life insurance companies -18.6 -4.7 -26.4 19

20 Asset: Private pension funds -18.6 -4.7 -26.4 20

 Pension fund contributions payable:

21 Liab.: Nonfinancial corporate business -1.9 -2.0 7.0 21

22 Asset: Private pension funds -1.9 -2.0 7.0 22

 Securities borrowed (net):

23 Liab.: Funding corporations 174.9 302.6 -7.7 23

24 Asset: Brokers and dealers 174.9 302.6 -7.7 24

 Nonmarketable government securities:

25 Liab.: Federal government 40.0 35.8 33.3 25

26 Asset: Federal government retirement funds 40.0 35.8 33.3 26

 Retiree Health Care Funds (1):

27 Liab.: Federal government 17.7 20.8 49.0 27

28 Asset: Household sector 17.7 20.8 49.0 28

(1) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
48 FFA, 2005-2007, March 6, 2008

F.231 Unidentified Miscellaneous Financial Claims

Billions of dollars

2005 2006 2007

 

 1 Net change in liabilities 772.4 90.1 969.2 1

 2 Nonfinancial corporate business 835.7 205.5 390.1 2

 3 Nonfarm noncorporate business 142.7 39.2 38.8 3

 4 Federal government 5.0 5.6 -0.6 4

 5 Rest of the world -41.8 71.6 223.9 5

 6 Monetary authority 1.7 -0.7 14.6 6

 7 Commercial banking -10.5 -15.4 86.2 7

 8 U.S.-chartered commercial banks -46.8 43.3 24.1 8

 9 Foreign banking offices in U.S. 23.7 -133.0 70.6 9

10 Bank holding companies 12.8 78.7 -4.3 10

11 Banks in U.S.-affiliated areas -0.3 -4.4 -4.1 11

12 Savings institutions 39.5 26.2 -5.6 12

13 Credit unions 2.6 -2.7 -3.9 13

14 Life insurance companies 9.3 17.1 50.4 14

15 Government-sponsored enterprises 0.2 9.7 7.4 15

16 Finance companies -1.7 -17.3 -7.6 16

17 REITs 1.6 6.7 8.0 17

18 Brokers and dealers -120.4 10.0 32.2 18

19 Funding corporations -91.5 -265.4 135.5 19

20 Net change in assets 564.0 394.3 786.1 20

21 Nonfinancial corporate business 446.8 4.5 138.0 21

22 Nonfarm noncorporate business 198.2 158.5 172.4 22

23 State and local governments -23.0 -41.0 -12.7 23

24 Federal government -0.5 -1.0 -0.6 24

25 Rest of the world -24.4 303.0 325.3 25

26 Monetary authority -3.2 0.1 25.7 26

27 Commercial banking -18.1 -105.4 49.3 27

28 U.S.-chartered commercial banks 2.9 8.7 0.4 28

29 Foreign banking offices in U.S. -37.3 -150.4 13.9 29

30 Bank holding companies 16.2 35.6 31.7 30

31 Banks in U.S.-affiliated areas 0.1 0.6 3.3 31

32 Savings institutions -60.6 18.8 -3.1 32

33 Credit unions -0.5 0.6 9.6 33

34 Life insurance companies 27.1 -8.3 -43.2 34

35 Private pension funds -6.4 -9.8 -3.7 35

36 State and local govt. retirement funds -0.6 -0.3 0.9 36

37 Money market mutual funds -10.0 15.9 68.9 37

38 Mutual funds 3.7 3.3 3.8 38

39 Government-sponsored enterprises 4.0 -3.2 32.5 39

40 Finance companies -16.2 -69.9 -23.8 40

41 REITs 8.4 10.5 0.1 41

42 Brokers and dealers 39.1 118.2 46.6 42

43 Discrepancy 208.4 -304.2 183.1 43
FFA, 2005-2007, March 6, 2008 49

F.11 Sector Discrepancies

Billions of dollars

2005 2006 2007

 

 1 All sectors 311.7 37.9 137.7 1

 2 Household sector 335.5 189.5 -80.6 2

 3 Nonfinancial corporate business 83.4 -222.3 -216.3 3

 4 State and local governments -59.7 -31.1 -43.3 4

 5 Federal government 26.5 24.2 4.1 5

 6 Rest of the world -34.2 -31.3 133.8 6

 7 Financial sectors -39.9 109.0 340.1 7

 8 Monetary authority -3.3 -3.3 2.9 8

 9 Commercial banking 18.0 110.6 225.0 9

10 Savings institutions 6.9 4.1 0.9 10

11 Credit unions 2.5 1.2 3.3 11

12 Property-casualty insurance companies -11.8 -11.0 14.9 12

13 Life insurance companies -12.4 -22.8 -26.6 13

14 Mutual funds 15.8 29.5 35.5 14

15 Government-sponsored enterprises -14.9 -5.4 -4.7 15

16 Issuers of asset-backed securities 0.0 0.0 0.0 16

17 Finance companies -14.6 47.5 30.3 17

18 REITs -19.3 -22.5 4.1 18

19 Brokers and dealers -6.7 -18.9 54.4 19

F.12 Instrument Discrepancies

Billions of dollars

 1 All types 311.7 37.9 137.7 1

 2 Treasury currency 0.7 -1.1 0.1 2

 3 Foreign deposits 40.6 99.8 206.1 3

 4 Net interbank transactions -3.7 -1.9 1.7 4

 5 Security RPs 134.2 298.0 -229.9 5

 Mail floats:

 6 Federal government -6.6 -3.0 1.2 6

 7 Other -0.9 -0.5 -1.0 7

 8 Trade credit -32.6 -61.6 42.8 8

 9 Taxes payable -18.1 1.9 -31.4 9

10 Miscellaneous 208.4 -304.2 183.1 10

11 Nonfinancial -10.4 10.6 -34.9 11

 Nonfinancial components (sign reversed):

12 Statistical discrepancy (NIPA) 5.4 -18.1 12.4 12

13 Private wage accruals less disbursements 5.0 7.5 22.5 13
50 FFA, 2005-2007, March 6, 2008

L.1 Credit Market Debt Outstanding (1)

Billions of dollars

2005 2006 2007

 

 1 Total credit market debt owed by: 40950.8 44810.2 48808.3 1

 2 Domestic nonfinancial sectors 26545.6 28861.9 31212.5 2

 3 Household sector 11754.1 12948.3 13825.4 3

 4 Nonfinancial corporate business 5273.3 5695.7 6329.5 4

 5 Nonfarm noncorporate business 2775.0 3121.8 3525.0 5

 6 Farm business 186.9 205.3 220.4 6

 7 State and local governments 1854.4 2005.6 2189.8 7

 8 Federal government 4701.9 4885.3 5122.3 8

 9 Rest of the world 1514.9 1767.0 1845.2 9

10 Financial sectors 12890.3 14181.3 15750.6 10

11 Commercial banking 823.9 998.0 1256.9 11

12 U.S.-chartered commercial banks 393.6 497.8 629.5 12

13 Foreign banking offices in U.S. 0.8 0.5 0.5 13

14 Bank holding companies 429.5 499.7 627.0 14

15 Savings institutions 409.6 297.8 400.9 15

16 Credit unions 14.7 18.9 32.4 16

17 Life insurance companies 11.5 14.2 28.7 17

18 Government-sponsored enterprises 2592.2 2627.8 2909.9 18

19 Agency- and GSE-backed mortgage pools 3541.9 3837.3 4443.1 19

20 ABS issuers 3274.8 4047.2 4224.1 20

21 Finance companies 1108.6 1144.2 1174.1 21

22 REITs 402.9 444.0 439.6 22

23 Brokers and dealers 62.4 68.8 64.8 23

24 Funding corporations 647.9 683.3 776.1 24

25 Total credit market assets held by: 40950.8 44810.2 48808.3 25

26 Domestic nonfinancial sectors 5482.2 5815.1 6173.0 26

27 Household sector 3449.8 3666.9 3977.0 27

28 Nonfinancial corporate business 339.6 354.4 331.4 28

29 Nonfarm noncorporate business 96.8 109.1 121.2 29

30 State and local governments 1322.2 1406.8 1455.0 30

31 Federal government 273.8 277.9 288.3 31

32 Rest of the world 5188.3 6032.9 6855.2 32

33 Financial sectors 30280.2 32962.1 35780.2 33

34 Monetary authority 744.2 778.9 740.6 34

35 Commercial banking 7260.7 8019.1 8756.5 35

36 U.S.-chartered commercial banks 6469.7 7122.7 7637.2 36

37 Foreign banking offices in U.S. 657.8 761.6 963.3 37

38 Bank holding companies 32.2 35.6 58.7 38

39 Banks in U.S.-affiliated areas 101.0 99.3 97.4 39

40 Savings institutions 1616.7 1518.6 1584.4 40

41 Credit unions 592.6 622.7 659.4 41

42 Property-casualty insurance companies 765.8 813.5 851.6 42

43 Life insurance companies 2765.4 2806.1 2907.9 43

44 Private pension funds 712.6 726.6 761.3 44

45 State and local govt. retirement funds 693.4 769.7 795.7 45

46 Federal government retirement funds 76.0 84.3 96.1 46

47 Money market mutual funds 1340.8 1560.8 1951.5 47

48 Mutual funds 1747.1 1932.0 2194.5 48

49 Closed-end funds 165.1 171.8 172.0 49

50 Exchange-traded funds 15.0 20.7 33.7 50

51 Government-sponsored enterprises 2543.9 2590.5 2831.4 51

52 Agency- and GSE-backed mortgage pools 3541.9 3837.3 4443.1 52

53 ABS issuers 3171.2 3898.9 4143.1 53

54 Finance companies 1537.1 1626.8 1633.0 54

55 REITs 267.0 324.5 258.8 55

56 Brokers and dealers 477.2 583.4 815.2 56

57 Funding corporations 246.4 275.9 150.3 57

(1) Excludes corporate equities and mutual fund shares.
FFA, 2005-2007, March 6, 2008 51

L.2 Credit Market Debt Owed by Nonfinancial Sectors

Billions of dollars

2005 2006 2007

 

 1 Domestic 26545.6 28861.9 31212.5 1

 2 By instrument 26545.6 28861.9 31212.5 2

 3 Commercial paper 93.8 117.1 127.6 3

 4 Treasury securities 4678.0 4861.7 5099.2 4

 5 Agency- and GSE-backed securities 23.8 23.5 23.1 5

 6 Municipal securities 2225.9 2403.2 2617.8 6

 7 Corporate bonds 2998.1 3211.5 3525.6 7

 8 Bank loans n.e.c. 1236.8 1410.2 1680.0 8

 9 Other loans and advances 1023.5 1067.5 1186.5 9

10 Mortgages 11951.8 13348.9 14402.0 10

11 Home 9374.3 10444.0 11135.8 11

12 Multifamily residential 663.6 715.7 809.7 12

13 Commercial 1812.4 2080.2 2339.0 13

14 Farm 101.5 109.0 117.5 14

15 Consumer credit 2313.9 2418.3 2550.6 15

16 By sector 26545.6 28861.9 31212.5 16

17 Household sector 11754.1 12948.3 13825.4 17

18 Nonfinancial business 8235.2 9022.8 10075.0 18

19 Corporate 5273.3 5695.7 6329.5 19

20 Nonfarm noncorporate 2775.0 3121.8 3525.0 20

21 Farm 186.9 205.3 220.4 21

22 State and local governments 1854.4 2005.6 2189.8 22

23 Federal government 4701.9 4885.3 5122.3 23

 Foreign credit market debt

24 held in U.S. 1514.9 1767.0 1845.2 24

25 Commercial paper 368.4 461.4 395.4 25

26 Bonds 1028.2 1180.8 1322.6 26

27 Bank loans n.e.c. 84.4 98.3 103.0 27

28 Other loans and advances 34.0 26.6 24.3 28

29 Domestic and foreign 28060.5 30628.9 33057.7 29

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 12890.3 14181.3 15750.6 1

 2 Open market paper 1182.1 1379.5 1265.6 2

 3 GSE issues 2592.2 2627.8 2909.9 3

 4 Agency- and GSE-backed mortgage pool sec. 3541.9 3837.3 4443.1 4

 5 Corporate bonds 4570.4 5368.9 5874.9 5

 6 Bank loans n.e.c. 239.1 175.0 229.2 6

 7 Other loans and advances 620.2 641.4 872.8 7

 8 Mortgages 144.5 151.5 155.1 8

 9 By sector 12890.3 14181.3 15750.6 9

10 Commercial banks 394.3 498.3 630.0 10

11 Bank holding companies 429.5 499.7 627.0 11

12 Savings institutions 409.6 297.8 400.9 12

13 Credit unions 14.7 18.9 32.4 13

14 Life insurance companies 11.5 14.2 28.7 14

15 Government-sponsored enterprises 2592.2 2627.8 2909.9 15

16 Agency- and GSE-backed mortgage pools 3541.9 3837.3 4443.1 16

17 ABS issuers 3274.8 4047.2 4224.1 17

18 Brokers and dealers 62.4 68.8 64.8 18

19 Finance companies 1108.6 1144.2 1174.1 19

20 REITs 402.9 444.0 439.6 20

21 Funding corporations 647.9 683.3 776.1 21
52 FFA, 2005-2007, March 6, 2008

L.4 Credit Market Debt, All Sectors, by Instrument

Billions of dollars

2005 2006 2007

 

 1 Total 40950.8 44810.2 48808.3 1

 2 Open market paper 1644.2 1958.0 1788.6 2

 3 Treasury securities 4678.0 4861.7 5099.2 3

 4 Agency- and GSE-backed securities 6158.0 6488.6 7376.1 4

 5 Municipal securities 2225.9 2403.2 2617.8 5

 6 Corporate and foreign bonds 8596.6 9761.2 10723.1 6

 7 Bank loans n.e.c. 1560.3 1683.4 2012.2 7

 8 Other loans and advances 1677.6 1735.4 2083.6 8

 9 Mortgages 12096.3 13500.4 14557.1 9

10 Consumer credit 2313.9 2418.3 2550.6 10

 Memo:

 Selected claims not included above:

11 Corporate equities 18512.0 20909.3 21463.5 11

12 Mutual fund shares 6048.9 7068.3 7798.3 12

L.5 Total Liabilities and Its Relation to Total Financial Assets

Billions of dollars

 Total credit market debt

 1 (from table L.4) 40950.8 44810.2 48808.3 1

 2 Official foreign exchange 45.9 46.0 74.0 2

 3 SDR certificates 2.2 2.2 2.2 3

 4 Treasury currency 27.5 28.1 28.7 4

 5 Foreign deposits 1024.7 1123.5 1389.4 5

 6 Net interbank liabilities 201.3 190.0 133.7 6

 7 Checkable deposits and currency 1525.2 1506.5 1532.0 7

 8 Small time and savings deposits 4599.3 4946.3 5233.1 8

 9 Large time deposits 1789.5 2050.8 2372.1 9

10 Money market fund shares 2006.9 2312.1 3053.2 10

11 Security RPs 1998.0 2494.0 2571.4 11

12 Mutual fund shares 6048.9 7068.3 7798.3 12

13 Security credit 1038.4 1249.9 1514.0 13

14 Life insurance reserves 1082.6 1163.7 1204.8 14

15 Pension fund reserves 11391.0 12323.6 12779.5 15

16 Trade payables 2996.3 3166.0 3341.1 16

17 Taxes payable 297.0 316.9 340.9 17

18 Miscellaneous 13967.2 14579.8 15113.9 18

19 Total liabilities 90992.5 99377.9 107290.7 19

 + Financial assets not included in

 liabilities:

20 Gold and SDRs 19.3 19.9 20.5 20

21 Corporate equities 18512.0 20909.3 21463.5 21

22 Household equity in noncorp. bus. 6651.4 7329.8 7891.9 22

 - Liabilities not identified as assets:

23 Treasury currency -9.1 -10.1 -10.1 23

24 Foreign deposits 807.9 907.6 1113.7 24

25 Net interbank transactions 25.2 23.2 21.7 25

26 Security RPs 382.4 474.1 244.3 26

27 Taxes payable 96.7 53.0 26.2 27

28 Miscellaneous -4849.3 -5760.5 -6651.9 28

 - Floats not included in assets:

29 Checkable deposits: Federal govt. 1.8 0.1 2.8 29

30 Other 19.2 11.4 10.3 30

31 Trade credit 4.3 -54.1 -11.3 31

32 Totals identified to sectors as assets 119696.1 131992.3 141921.0 32
FFA, 2005-2007, March 6, 2008 53

L.10 Assets and Liabilities of the Personal Sector (1)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 35398.2 38704.1 40607.7 1

 2 Foreign deposits 61.6 67.5 86.4 2

 3 Checkable deposits and currency 502.2 491.5 468.3 3

 4 Time and savings deposits 5272.5 5824.7 6334.6 4

 5 Money market fund shares 1023.2 1197.8 1441.6 5

 6 Securities 13092.6 14314.2 14439.4 6

 7 Open market paper 164.2 187.7 159.7 7

 8 U.S. savings bonds 205.1 202.4 196.4 8

 9 Other Treasury securities 400.7 351.1 181.7 9

10 Agency- and GSE-backed securities 496.1 518.4 946.7 10

11 Municipal securities 825.8 871.0 921.7 11

12 Corporate and foreign bonds 1285.9 1469.4 1504.7 12

13 Corporate equities (2) 5874.9 6178.3 5446.6 13

14 Mutual fund shares 3839.7 4536.0 5081.9 14

15 Private life insurance reserves 1039.9 1119.5 1159.4 15

16 Private insured pension reserves 2197.4 2356.4 2525.2 16

17 Private noninsured pension reserves 5356.8 5739.2 5876.1 17

18 Govt. insurance and pension reserves 3879.5 4272.2 4423.6 18

19 Miscellaneous and other assets 2972.7 3321.0 3853.1 19

20 Total liabilities 16435.9 18135.3 19554.3 20

21 Mortgage debt on nonfarm homes 9343.1 10404.6 11094.4 21

22 Other mortgage debt (3) 1841.3 2070.3 2336.1 22

23 Consumer credit 2313.9 2418.3 2550.6 23

24 Policy loans 107.6 110.9 115.8 24

25 Security credit 232.4 292.1 324.8 25

26 Other liabilities (3) 2597.6 2839.2 3132.6 26

(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) and life insurance and pension reserves (lines 15, 16, 17, and 18).

(3) Includes corporate farms.
54 FFA, 2005-2007, March 6, 2008

L.100 Households and Nonprofit Organizations (1)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 39543.7 43218.0 45333.0 1

 2 Deposits 6087.9 6732.7 7388.5 2

 3 Foreign deposits 61.6 67.5 86.4 3

 4 Checkable deposits and currency 156.2 122.3 78.4 4

 5 Time and savings deposits 4921.0 5428.4 5880.1 5

 6 Money market fund shares 949.2 1114.5 1343.5 6

 7 Credit market instruments 3449.8 3666.9 3977.0 7

 8 Open market paper 164.2 187.7 159.7 8

 9 Treasury securities 549.7 490.2 308.8 9

10 Savings bonds 205.1 202.4 196.4 10

11 Other Treasury 344.6 287.8 112.4 11

12 Agency- and GSE-backed securities 496.1 518.4 946.7 12

13 Municipal securities 821.4 866.0 916.0 13

14 Corporate and foreign bonds 1285.9 1469.4 1504.7 14

15 Mortgages 132.4 135.4 141.2 15

16 Corporate equities (2) 5874.9 6178.3 5446.6 16

17 Mutual fund shares 3839.7 4536.0 5081.9 17

18 Security credit 575.3 655.7 853.5 18

19 Life insurance reserves 1082.6 1163.7 1204.8 19

20 Pension fund reserves 11391.0 12323.6 12779.5 20

21 Equity in noncorporate business 6651.4 7329.8 7891.9 21

22 Miscellaneous assets 591.1 631.2 709.3 22

23 Total liabilities 12191.1 13454.5 14374.5 23

24 Credit market instruments 11754.1 12948.3 13825.4 24

25 Home mortgages (3) 8866.2 9854.0 10508.8 25

26 Consumer credit 2313.9 2418.3 2550.6 26

27 Municipal securities 205.1 226.9 250.2 27

28 Bank loans n.e.c. 48.3 96.3 130.7 28

29 Other loans and advances 119.4 123.1 128.4 29

30 Commercial mortgages 201.3 229.8 256.7 30

31 Security credit 232.4 292.1 324.8 31

32 Trade payables 182.3 191.3 200.3 32

 Deferred and unpaid

33 life insurance premiums 22.4 22.8 24.0 33

(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) and life insurance and pension reserves (lines 19 and 20).

(3) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 22.
FFA, 2005-2007, March 6, 2008 55

L.101 Nonfinancial Business (1)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 14409.1 15155.2 16059.4 1

 2 Foreign deposits 60.6 64.3 55.0 2

 3 Checkable deposits and currency 598.5 542.3 550.8 3

 4 Time and savings deposits 801.9 841.5 846.6 4

 5 Money market fund shares 440.4 514.5 690.4 5

 6 Security RPs 14.6 15.4 14.1 6

 7 Credit market instruments 436.4 463.5 452.7 7

 8 Commercial paper 111.0 126.5 95.1 8

 9 Treasury securities 106.9 107.7 120.0 9

10 Agency- and GSE-backed securities 18.8 16.4 18.7 10

11 Municipal securities 36.6 45.4 45.8 11

12 Mortgages 104.4 110.7 117.8 12

13 Consumer credit 58.8 56.8 55.2 13

14 Mutual fund shares 156.3 206.8 250.1 14

15 Trade receivables 2540.0 2701.0 2872.1 15

16 Miscellaneous assets 9360.5 9805.8 10327.8 16

17 Total liabilities 15390.1 15814.2 16526.2 17

18 Credit market instruments 8235.2 9022.8 10075.0 18

19 Commercial paper 93.8 117.1 127.6 19

20 Municipal securities 176.7 181.7 189.4 20

21 Corporate bonds 2998.1 3211.5 3525.6 21

22 Bank loans n.e.c. 1188.5 1313.9 1549.3 22

23 Other loans and advances 893.8 933.5 1046.5 23

24 Mortgages 2884.4 3265.1 3636.5 24

25 Trade payables 2035.1 2136.9 2244.3 25

26 Taxes payable 179.8 184.4 192.3 26

27 Miscellaneous liabilities 4940.0 4470.1 4014.6 27

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
56 FFA, 2005-2007, March 6, 2008

L.102 Nonfarm Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 11909.0 12346.7 12901.7 1

 2 Foreign deposits 60.6 64.3 55.0 2

 3 Checkable deposits and currency 252.4 173.2 160.9 3

 4 Time and savings deposits 450.4 445.2 392.1 4

 5 Money market fund shares 366.5 431.2 592.4 5

 6 Security RPs 14.6 15.4 14.1 6

 7 Commercial paper 111.0 126.5 95.1 7

 8 Treasury securities 50.7 44.4 50.7 8

 9 Agency- and GSE-backed securities 18.8 16.4 18.7 9

10 Municipal securities 32.1 40.4 40.1 10

11 Mortgages 68.3 69.9 71.6 11

12 Consumer credit 58.8 56.8 55.2 12

13 Trade receivables 2109.0 2215.3 2321.1 13

14 Mutual fund shares 156.3 206.8 250.1 14

15 Miscellaneous assets 8159.7 8440.9 8784.7 15

16 U.S. direct investment abroad (1) 2047.8 2324.9 2515.5 16

17 Insurance receivables 276.2 282.7 292.8 17

18 Equity in GSEs 0.0 0.0 0.0 18

19 Investment in finance company subs. 156.1 169.3 162.9 19

20 Other 5679.6 5664.0 5813.5 20

21 Total liabilities 11145.3 11133.4 11346.4 21

22 Credit market instruments 5273.3 5695.7 6329.5 22

23 Commercial paper 93.8 117.1 127.6 23

24 Municipal securities (2) 176.7 181.7 189.4 24

25 Corporate bonds (1) 2998.1 3211.5 3525.6 25

26 Bank loans n.e.c. 514.5 569.7 675.4 26

27 Other loans and advances 722.9 741.7 839.8 27

28 Savings institutions 30.7 33.7 36.8 28

29 Finance companies 431.3 448.2 467.5 29

30 Federal government 9.0 9.8 10.3 30

31 Acceptance liabilities to banks 3.8 0.3 0.2 31

32 Rest of the world 159.6 159.4 244.5 32

33 ABS issuers 88.5 90.2 80.4 33

34 Mortgages 767.4 874.0 971.6 34

35 Trade payables 1699.4 1775.4 1848.1 35

36 Taxes payable 93.1 92.1 93.4 36

37 Miscellaneous liabilities 4079.6 3570.2 3075.4 37

38 Foreign direct investment in U.S. 1292.3 1437.9 1592.8 38

39 Pension fund contributions payable 44.8 42.8 49.8 39

40 Other 2742.6 2089.5 1432.9 40

 Memo:

41 Trade receivables net of payables 409.6 439.9 473.0 41

42 Market value of equities 10872.8 11519.4 12068.0 42

43 Securities and mortgages 3942.1 4267.2 4686.7 43

44 Loans and short-term paper 1331.1 1428.5 1642.9 44

45 Total short-term liabilities (3) 3123.6 3296.0 3584.3 45

46 Total liquid assets (4) 1513.2 1563.8 1669.1 46

 Analytical measures (percent)

47 Long-term debt/credit market debt 74.8 74.9 74.0 47

48 Short-term debt/credit market debt 25.2 25.1 26.0 48

49 Liquid assets/short-term liabilities 48.4 47.4 46.6 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, 2005-2007, March 6, 2008 57

L.103 Nonfarm Noncorporate Business

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 2432.6 2734.9 3078.9 1

 2 Checkable deposits and currency 323.1 344.1 363.1 2

 3 Time and savings deposits 351.6 396.3 454.5 3

 4 Money market fund shares 73.9 83.3 98.0 4

 5 Treasury securities 56.2 63.3 69.3 5

 6 Municipal securities 4.4 5.0 5.7 6

 7 Mortgages 36.2 40.8 46.2 7

 8 Consumer credit 0.0 0.0 0.0 8

 9 Trade receivables 430.9 485.7 551.0 9

10 Miscellaneous assets 1156.2 1316.3 1491.1 10

11 Insurance receivables 65.3 66.9 69.0 11

12 Equity investment in GSEs (1) 1.8 1.9 2.1 12

13 Other 1089.1 1247.5 1420.0 13

14 Total liabilities 4051.5 4473.5 4958.4 14

15 Credit market instruments 2775.0 3121.8 3525.0 15

16 Bank loans n.e.c. 624.1 691.0 818.4 16

17 Other loans and advances 135.4 148.7 159.2 17

18 Mortgages 2015.5 2282.1 2547.4 18

19 Trade payables 329.4 359.5 395.3 19

20 Taxes payable 86.7 92.3 98.9 20

21 Miscellaneous liabilities 860.4 899.9 939.1 21

(1) Equity in the Farm Credit System.

L.104 Farm Business (1)

Billions of dollars

 1 Total financial assets 67.5 73.7 78.8 1

 2 Checkable deposits and currency 22.9 25.0 26.8 2

 3 Miscellaneous assets 44.5 48.6 52.0 3

 4 Insurance receivables 41.7 45.6 48.5 4

 5 Equity investment in GSEs (2) 2.8 3.0 3.5 5

 6 Total liabilities 193.2 207.3 221.4 6

 7 Credit market instruments 186.9 205.3 220.4 7

 8 Bank loans n.e.c. 49.9 53.2 55.5 8

 9 Other loans and advances 35.5 43.1 47.4 9

10 Mortgages (3) 101.5 109.0 117.5 10

11 Trade payables 6.3 2.0 1.0 11

(1) Corporate and noncorporate farms.

(2) Equity in the Farm Credit System.

(3) Excludes mortgages on farm houses.
58 FFA, 2005-2007, March 6, 2008

L.105 State and Local Governments (1)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 2220.1 2385.5 2526.7 1

 2 Checkable deposits and currency 52.5 58.6 55.6 2

 3 Time and savings deposits 183.3 209.6 245.5 3

 4 Money market fund shares 70.7 75.9 79.5 4

 5 Security RPs 139.3 146.3 146.8 5

 6 Credit market instruments 1322.2 1406.8 1455.0 6

 7 Open market paper 182.4 195.5 187.8 7

 8 Treasury securities 463.2 497.7 524.9 8

 9 Agency- and GSE-backed securities 396.3 416.9 429.3 9

10 Municipal securities 4.9 5.3 5.6 10

11 Corporate and foreign bonds 125.6 133.6 140.4 11

12 Mortgages 149.9 157.7 167.1 12

13 Corporate equities 95.5 102.4 107.4 13

14 Mutual fund shares 29.2 31.3 32.8 14

15 Trade receivables 142.7 153.1 160.6 15

16 Taxes receivable 126.4 185.1 238.5 16

17 Miscellaneous assets 58.2 16.4 5.0 17

18 Total liabilities 2337.0 2523.6 2746.7 18

19 Credit market instruments 1854.4 2005.6 2189.8 19

20 Municipal securities 1844.1 1994.6 2178.1 20

21 Short-term 105.9 102.8 120.1 21

22 Other 1738.2 1891.8 2058.0 22

23 U.S. government loans 10.3 11.0 11.7 23

24 Trade payables 482.6 518.1 556.9 24

(1) Data for employee retirement funds are shown in table L.119.

L.106 Federal Government

Billions of dollars

 1 Total financial assets 593.1 598.9 635.3 1

 2 Gold, SDRs, and official foreign exchange 35.3 34.5 36.3 2

 3 Checkable deposits and currency 36.8 32.9 56.5 3

 4 Time and savings deposits 1.4 1.7 2.8 4

 5 Credit market instruments 273.8 277.9 288.3 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 6

 7 Other loans and advances 106.2 104.7 106.8 7

 8 Mortgages 77.8 81.5 83.4 8

 9 Consumer credit (1) 89.8 91.7 98.2 9

10 Trade receivables 70.9 71.3 71.5 10

11 Taxes receivable 74.0 78.8 76.2 11

12 Miscellaneous assets 100.9 101.8 103.6 12

13 Total liabilities 5919.2 6172.9 6504.2 13

14 SDR certificates 2.2 2.2 2.2 14

15 Treasury currency 27.5 28.1 28.7 15

16 Credit market instruments 4701.9 4885.3 5122.3 16

17 Savings bonds 205.1 202.4 196.4 17

18 Other Treasury securities 4472.9 4659.4 4902.8 18

19 Budget agency securities 23.8 23.5 23.1 19

20 Multifamily residential mortgages 0.0 0.0 0.0 20

21 Trade payables 198.8 210.8 221.2 21

22 Insurance reserves 42.7 44.2 45.4 22

23 Miscellaneous liabilities (2) 946.1 1002.4 1084.4 23

24 Nonmarketable securities held by pension plans 882.9 918.7 952.0 24

25 Other 63.2 83.7 132.4 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, 2005-2007, March 6, 2008 59

L.107 Rest of the World

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 11635.2 13851.3 15424.1 1

 2 Net interbank assets 106.0 96.7 -12.4 2

 3 U.S. checkable deposits and currency 371.5 393.2 408.8 3

 4 U.S. time deposits 174.9 187.9 221.1 4

 5 Money market fund shares 23.0 26.0 33.1 5

 6 Security RPs 713.3 1029.0 1099.6 6

 7 Credit market instruments 5188.3 6032.9 6855.2 7

 8 Open market paper 239.6 287.6 292.3 8

 9 Treasury securities 1984.4 2115.0 2324.0 9

10 Official 1340.6 1520.8 1570.2 10

11 Private 643.8 594.2 753.8 11

12 Agency- and GSE-backed securities 1011.7 1189.1 1378.5 12

13 Official 487.2 669.3 889.3 13

14 Private 524.5 519.8 489.2 14

15 Municipal securities 29.0 31.0 33.0 15

16 U.S. corporate bonds (1) 1764.0 2250.8 2582.8 16

17 Loans to U.S. corporate business 159.6 159.4 244.5 17

18 U.S. corporate equities 2039.1 2455.2 2806.3 18

19 Mutual fund shares 242.0 295.5 326.0 19

20 Trade receivables 56.9 63.1 79.9 20

21 Security credit 0.0 0.0 0.0 21

22 Miscellaneous assets 2720.1 3271.8 3606.4 22

23 Foreign direct investment in U.S. (2) 1868.2 2099.4 2334.5 23

24 Other 851.9 1172.4 1271.8 24

25 Total liabilities 5163.3 6103.9 6670.1 25

 U.S. official foreign exchange

26 and net IMF position 45.9 46.0 74.0 26

27 U.S. private deposits 1024.7 1123.5 1389.4 27

28 Credit market instruments 1514.9 1767.0 1845.2 28

29 Commercial paper 368.4 461.4 395.4 29

30 Bonds 1028.2 1180.8 1322.6 30

31 Bank loans n.e.c. 84.4 98.3 103.0 31

32 Official 2.6 1.9 1.9 32

33 Banks 18.1 21.9 30.2 33

34 Other 63.7 74.4 70.9 34

35 U.S. government loans 33.7 26.4 24.0 35

36 Acceptance liabilities to banks 0.2 0.2 0.3 36

37 Trade payables 54.5 60.7 72.7 37

38 Security debt 0.0 0.0 0.0 38

39 Miscellaneous liabilities 2523.4 3106.7 3288.7 39

40 U.S. equity in IBRD, etc. 43.2 45.3 47.7 40

41 U.S. government deposits 0.6 0.6 0.4 41

42 U.S. direct investment abroad (1,2) 2535.2 2855.6 3136.1 42

43 Other -55.6 205.3 104.4 43

 Memo:

44 Market value of foreign equities 3317.7 4251.5 4785.7 44

 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, 2005-2007, March 6, 2008

L.108 Monetary Authority (1)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 878.7 908.3 951.4 1

 2 Gold and foreign exchange 29.9 31.4 58.2 2

 3 SDR certificates 2.2 2.2 2.2 3

 4 Treasury currency 36.5 38.2 38.8 4

 5 Federal Reserve float 0.9 -0.3 -0.0 5

 6 Fed. Res. loans to domestic banks 0.1 0.1 48.6 6

 7 Security RPs 46.8 40.8 46.5 7

 8 Credit market instruments 744.2 778.9 740.6 8

 9 Acceptances 0.0 0.0 0.0 9

10 Treasury securities 744.2 778.9 740.6 10

11 Agency- and GSE-backed securities 0.0 0.0 0.0 11

12 Bank loans n.e.c. 0.0 0.0 0.0 12

13 Miscellaneous assets 18.1 17.0 16.4 13

14 Total liabilities 865.8 892.9 933.0 14

15 Depository institution reserves 19.0 18.7 20.8 15

16 Vault cash of commercial banks 50.1 51.7 55.0 16

17 Checkable deposits and currency 748.8 773.6 790.6 17

18 Due to federal government 4.8 5.0 16.4 18

19 Due to rest of the world 0.1 0.2 0.1 19

20 Currency outside banks 743.9 768.5 774.1 20

21 Miscellaneous liabilities 47.8 48.9 66.6 21

22 Federal Reserve Bank stock 13.5 15.3 18.5 22

23 Other 34.3 33.6 48.2 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, 2005-2007, March 6, 2008 61

L.109 Commercial Banking (1)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 9320.1 10202.9 11194.5 1

 2 Vault cash 50.1 51.7 55.0 2

 3 Reserves at Federal Reserve 16.3 16.7 18.2 3

 4 Checkable deposits and currency 3.0 2.9 2.4 4

 5 Total bank credit 7528.9 8380.7 9162.7 5

 6 Treasury securities 97.1 95.2 112.5 6

 7 Agency- and GSE-backed securities 1089.6 1135.3 1022.3 7

 8 Municipal securities 157.7 180.2 192.3 8

 9 Corporate and foreign bonds 687.0 780.3 978.8 9

10 Total loans 5456.0 6129.8 6785.7 10

11 Open market paper 0.0 0.0 0.0 11

12 Bank loans n.e.c. 1560.3 1683.4 2012.2 12

13 Mortgages 2958.0 3403.1 3633.3 13

14 Consumer credit 707.0 741.2 804.6 14

15 Security credit 230.7 302.2 335.7 15

16 Corporate equities 24.1 35.3 41.5 16

17 Mutual fund shares 17.4 24.5 29.5 17

18 Customers’ liab. on acceptances (2) 4.0 0.4 0.5 18

19 Miscellaneous assets 1717.8 1750.5 1955.8 19

20 Total liabilities 9258.5 10214.9 11442.4 20

21 Net interbank liabilities 132.2 119.6 57.9 21

22 To monetary authority 1.0 -0.3 48.6 22

23 To domestic banks (3) 25.2 23.2 21.7 23

24 To foreign banks 106.0 96.7 -12.4 24

25 Checkable deposits 610.3 574.4 586.8 25

26 Federal government 33.9 28.0 42.9 26

27 Rest of the world 19.6 28.8 33.5 27

28 Private domestic 556.8 517.6 510.4 28

29 Small time and savings deposits 3528.1 3815.7 4077.8 29

30 Large time deposits 1363.7 1627.7 1926.9 30

31 Federal funds and security RPs (net) 1085.1 1235.6 1292.5 31

32 Credit market instruments 823.9 998.0 1256.9 32

33 Open market paper 61.2 79.3 113.5 33

34 Corporate bonds 494.1 570.1 688.4 34

35 Other loans and advances 268.5 348.5 455.1 35

36 Taxes payable 25.6 29.3 33.3 36

37 Miscellaneous liabilities 1689.5 1814.5 2210.3 37

 Memo:

38 Credit market funds advanced (4) 7260.7 8019.1 8756.5 38

39 Consumer leases not included above (5) 0.0 0.0 11.2 39

(1) U.S.-chartered commercial banks, foreign banking offices in U.S., bank holding companies, and banks in U.S.-affiliated areas. IBFs are excluded from domestic banking and treated the

 same as branches in foreign countries.

(2) Included in other loans and advances (table L.216).

(3) Floats and discrepancies in interbank transactions.

(4) Total bank credit (line 5) less security credit (line 15) less corporate equities (line 16) less mutual fund shares (line 17) plus customers’ liability on acceptances (line 18).

(5) 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.
62 FFA, 2005-2007, March 6, 2008

L.110 U.S.-Chartered Commercial Banks

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 6905.5 7614.4 8268.4 1

 2 Vault cash and reserves at Federal Reserve 65.5 67.8 72.2 2

 3 Total bank credit 6603.6 7299.1 7855.2 3

 4 Treasury securities 64.2 61.9 73.0 4

 5 Agency- and GSE-backed securities 992.7 1040.3 928.8 5

 6 Mortgage pass-through securities 579.0 647.8 592.8 6

 7 CMOs and other structured MBS 152.3 147.2 142.8 7

 8 Other 261.5 245.3 193.2 8

 9 Municipal securities 157.2 178.9 190.8 9

10 Corporate and foreign bonds 411.6 470.7 572.5 10

11 Private mortgage pass-through securities 23.9 32.7 50.1 11

12 Private CMOs and other structured MBS 146.2 158.8 221.8 12

13 Other 241.5 279.1 300.6 13

14 Total loans 4936.4 5487.5 6019.1 14

15 Open market paper 0.0 0.0 0.0 15

16 Bank loans n.e.c. 1231.6 1290.8 1515.9 16

17 Mortgages 2902.1 3338.9 3551.5 17

18 Consumer credit 707.0 741.2 804.6 18

19 Security credit 95.6 116.5 147.0 19

20 Corporate equities 24.1 35.3 41.5 20

21 Mutual fund shares 17.4 24.5 29.5 21

22 Customers’ liab. on acceptances (1) 3.3 0.0 0.0 22

23 Miscellaneous assets 233.2 247.4 341.0 23

24 Total liabilities 7692.8 8511.6 9401.5 24

25 Net interbank liabilities 292.5 365.1 543.9 25

26 Federal Reserve float 0.9 -0.3 -0.0 26

27 Borrowing from Federal Reserve banks 0.1 0.1 48.6 27

28 To domestic banks -18.4 -55.0 -27.5 28

29 To foreign banks 309.9 420.3 522.7 29

30 Checkable deposits 587.7 551.2 560.7 30

31 Federal government 33.9 28.0 42.9 31

32 Rest of the world 17.4 26.7 31.1 32

33 Private domestic 536.5 496.4 486.7 33

34 Small time and savings deposits 3494.2 3771.9 4025.0 34

35 Large time deposits 838.1 968.0 991.7 35

36 Federal funds and security RPs (net) 893.6 994.9 1065.4 36

37 Acceptance liabilities 3.3 0.0 0.0 37

38 Corporate bonds 121.7 149.2 174.4 38

39 Other loans and advances 268.5 348.5 455.1 39

40 Taxes payable 25.6 29.3 33.3 40

41 Miscellaneous liabilities 1167.6 1333.4 1552.1 41

42 Investment by bank holding companies 897.0 1006.9 1133.3 42

43 Other 270.6 326.4 418.9 43

 Memo:

44 Credit market funds advanced (2) 6469.7 7122.7 7637.2 44

45 Consumer leases not included above (3) 0.0 0.0 11.2 45

(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).

(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.
FFA, 2005-2007, March 6, 2008 63

L.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 781.5 785.2 1004.2 1

 2 Reserves at Federal Reserve 0.9 0.6 1.0 2

 3 Total bank credit 792.1 946.8 1151.4 3

 4 Treasury securities 27.9 27.1 30.6 4

 5 Agency- and GSE-backed securities 50.9 54.8 56.9 5

 6 Municipal securities 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 262.8 292.5 369.5 7

 8 Total loans 450.6 572.3 694.4 8

 9 Open market paper 0.0 0.0 0.0 9

10 Bank loans n.e.c. 294.7 361.8 466.8 10

11 Mortgages 20.8 24.9 39.0 11

12 Security credit 135.1 185.6 188.6 12

13 Corporate equities 0.0 0.0 0.0 13

14 Customers’ liab. on acceptances (2) 0.8 0.4 0.5 14

15 Miscellaneous assets -12.3 -162.6 -148.7 15

16 Total liabilities 834.7 844.6 1070.1 16

17 Net interbank liabilities -141.8 -213.1 -404.0 17

18 To foreign banks -176.7 -255.2 -424.5 18

19 To domestic banks 34.9 42.2 20.4 19

20 Checkable deposits 9.3 9.3 11.8 20

21 Small time and savings deposits 10.0 18.6 25.5 21

22 Large time deposits 501.7 634.5 907.9 22

23 Federal funds and security RPs (net) 190.9 239.9 226.3 23

24 Acceptance liabilities 0.8 0.5 0.5 24

25 Miscellaneous liabilities 263.8 154.8 302.2 25

26 Foreign direct investment in U.S. 130.7 149.0 182.1 26

27 Due to affiliates 188.8 197.3 241.0 27

28 Other -55.6 -191.5 -120.9 28

 Memo:

29 Credit market funds advanced (3) 657.8 761.6 963.3 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, 2005-2007, March 6, 2008

L.112 Bank Holding Companies

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 1523.8 1695.3 1813.0 1

 2 Credit market instruments 32.2 35.6 58.7 2

 3 Treasury securities 1.1 2.5 7.1 3

 4 Agency- and GSE-backed securities 11.2 11.2 9.9 4

 5 Corporate and foreign bonds 11.8 16.7 35.9 5

 6 Bank loans n.e.c. 8.1 5.1 5.9 6

 7 Miscellaneous assets 1491.6 1659.7 1754.3 7

 8 Investment in bank subsidiaries 897.0 1006.9 1133.3 8

 9 Investment in nonbank subsidiaries 384.0 406.6 343.2 9

10 Other 210.6 246.2 277.9 10

11 Total liabilities 627.6 756.7 868.2 11

12 Net interbank liabilities -18.5 -32.4 -81.9 12

13 To domestic banks 8.6 36.0 28.7 13

14 To foreign banks -27.1 -68.4 -110.6 14

15 Federal funds and security RPs (net) 0.6 0.8 0.8 15

16 Credit market instruments 429.5 499.7 627.0 16

17 Commercial paper 57.1 78.8 113.0 17

18 Corporate bonds 372.4 420.9 514.0 18

19 Miscellaneous liabilities 216.0 288.6 322.4 19

L.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

 1 Total financial assets 109.3 108.1 109.0 1

 2 Checkable deposits and currency 3.0 2.9 2.4 2

 3 Credit market instruments 101.0 99.3 97.4 3

 4 Treasury securities 3.9 3.7 1.8 4

 5 Agency- and GSE-backed securities 34.8 29.0 26.6 5

 6 Municipal securities 0.5 1.3 1.5 6

 7 Corporate and foreign bonds 0.8 0.4 1.0 7

 8 Bank loans n.e.c. 25.9 25.6 23.7 8

 9 Home mortgages 16.3 17.2 18.2 9

10 Commercial mortgages 18.8 22.0 24.5 10

11 Miscellaneous assets 5.3 5.9 9.2 11

12 Total liabilities 103.4 102.1 102.5 12

13 Checkable deposits 13.3 14.0 14.3 13

14 Small time and savings deposits 23.9 25.2 27.3 14

15 Large time deposits 23.9 25.2 27.3 15

16 Miscellaneous liabilities 42.2 37.7 33.7 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, 2005-2007, March 6, 2008 65

L.114 Savings Institutions (1)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 1789.4 1714.9 1815.0 1

 2 Reserves at Federal Reserve 2.7 2.0 2.6 2

 3 Checkable deposits and currency 23.7 20.4 20.0 3

 4 Time and savings deposits 2.7 6.6 9.9 4

 5 Federal funds and security RPs 9.0 18.3 45.6 5

 6 Credit market instruments 1616.7 1518.6 1584.4 6

 7 Open market paper 0.0 0.0 0.0 7

 8 Treasury securities 12.3 12.4 7.0 8

 9 Agency- and GSE-backed securities 192.3 169.3 168.6 9

10 Mortgage pass-through securities 116.0 96.3 101.5 10

11 CMOs and other structured MBS 30.7 27.5 25.3 11

12 Other 45.5 45.5 41.8 12

13 Municipal securities 8.6 10.7 10.6 13

14 Corporate and foreign bonds 80.2 89.2 138.3 14

15 Private mortgage pass-through securities 7.7 10.7 6.2 15

16 Private CMOs and other structured MBS 58.6 65.4 104.7 16

17 Other 13.9 13.1 27.4 17

18 Other loans and advances 61.5 67.5 73.7 18

19 Mortgages 1152.7 1074.0 1095.2 19

20 Consumer credit 109.1 95.5 90.9 20

21 Corporate equities 26.2 24.9 25.3 21

22 Miscellaneous assets 108.3 123.9 127.2 22

23 Total liabilities 1735.5 1659.9 1754.9 23

24 Deposits 1066.9 1091.5 1104.7 24

25 Checkable 85.0 85.9 85.7 25

26 Small time and savings 618.7 647.6 644.3 26

27 Large time 363.3 358.0 374.7 27

28 Security RPs 78.7 63.1 45.8 28

29 Credit market instruments 409.6 297.8 400.9 29

30 Corporate bonds 8.7 10.7 10.4 30

31 Bank loans n.e.c. 75.5 27.3 33.8 31

32 Other loans and advances 325.5 259.8 356.7 32

33 Taxes payable 2.6 2.1 2.3 33

34 Miscellaneous liabilities 177.7 205.3 201.4 34

35 Investment by parent 11.8 13.2 14.8 35

36 Other 165.9 192.1 186.6 36

(1) Savings and loan associations, mutual savings banks, and federal savings banks.
66 FFA, 2005-2007, March 6, 2008

L.115 Credit Unions

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 685.7 716.2 759.5 1

 2 Checkable deposits and currency 38.1 44.4 43.2 2

 3 Time and savings deposits 21.9 17.0 17.2 3

 4 Federal funds and security RPs 6.7 5.1 2.5 4

 5 Credit market instruments 592.6 622.7 659.4 5

 6 Open market paper 0.8 1.0 0.4 6

 7 Treasury securities 7.7 7.4 7.0 7

 8 Agency- and GSE-backed securities 86.4 72.5 67.4 8

 9 Corporate and foreign bonds 23.5 30.6 34.6 9

10 Home mortgages 245.6 276.6 310.7 10

11 Consumer credit 228.6 234.5 239.3 11

12 Mutual fund shares 2.2 2.1 2.1 12

13 Miscellaneous assets 24.2 24.9 35.1 13

14 Total liabilities 622.7 648.7 688.1 14

15 Shares/deposits 596.1 620.6 650.4 15

16 Checkable 81.1 72.6 68.9 16

17 Small time and savings 452.5 483.0 511.0 17

18 Large time 62.5 65.0 70.5 18

19 Other loans and advances 14.7 18.9 32.4 19

20 Miscellaneous liabilities 11.9 9.2 5.3 20

L.116 Property-Casualty Insurance Companies

Billions of dollars

 1 Total financial assets 1243.8 1329.3 1381.2 1

 2 Checkable deposits and currency 21.0 29.9 33.9 2

 3 Security RPs 68.9 66.0 46.6 3

 4 Credit market instruments 765.8 813.5 851.6 4

 5 Treasury securities 69.2 75.8 78.3 5

 6 Agency- and GSE-backed securities 117.9 122.0 127.7 6

 7 Municipal securities 313.2 335.2 351.6 7

 8 Corporate and foreign bonds 262.8 277.0 289.4 8

 9 Commercial mortgages 2.7 3.5 4.6 9

10 Corporate equities 199.5 227.0 239.7 10

11 Mutual fund shares 5.7 6.9 7.7 11

12 Trade receivables 82.1 87.0 90.5 12

13 Miscellaneous assets 100.7 99.0 111.4 13

14 Total liabilities 799.2 828.6 863.8 14

15 Taxes payable 38.2 43.4 49.0 15

16 Miscellaneous liabilities 761.0 785.3 814.8 16
FFA, 2005-2007, March 6, 2008 67

L.117 Life Insurance Companies

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 4350.7 4685.3 4983.9 1

 2 Checkable deposits and currency 47.7 56.1 57.3 2

 3 Money market fund shares 113.6 162.3 226.6 3

 4 Credit market instruments 2765.4 2806.1 2907.9 4

 5 Open market paper 40.2 53.1 41.8 5

 6 Treasury securities 91.2 83.2 86.1 6

 7 Agency- and GSE-backed securities 368.5 377.4 393.2 7

 8 Municipal securities 32.5 36.6 38.2 8

 9 Corporate and foreign bonds 1840.7 1841.9 1910.3 9

10 Policy loans 106.9 110.2 115.2 10

11 Mortgages 285.5 303.8 323.1 11

12 Corporate equities 1161.8 1364.8 1517.6 12

13 Mutual fund shares 109.0 148.8 161.4 13

14 Miscellaneous assets 153.1 147.1 113.0 14

15 Total liabilities 4088.4 4412.0 4707.5 15

16 Other loans and advances 11.5 14.2 28.7 16

17 Life insurance reserves 1039.9 1119.5 1159.4 17

18 Pension fund reserves (1) 2197.4 2356.4 2525.2 18

19 Taxes payable 31.6 35.6 40.0 19

20 Miscellaneous liabilities 808.0 886.2 954.1 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 Private Pension Funds (1)

Billions of dollars

 1 Total financial assets 5317.6 5701.5 5841.9 1

 2 Checkable deposits and currency 10.8 11.2 11.7 2

 3 Time and savings deposits 62.0 63.1 66.0 3

 4 Money market fund shares 86.7 90.1 94.1 4

 5 Security RPs 28.2 31.5 41.0 5

 6 Credit market instruments 712.6 726.6 761.3 6

 7 Open market paper 28.5 31.6 32.8 7

 8 Treasury securities 92.7 96.3 99.2 8

 9 Agency- and GSE-backed securities 256.2 254.9 269.2 9

10 Corporate and foreign bonds 325.5 334.4 350.5 10

11 Mortgages 9.8 9.5 9.7 11

12 Corporate equities 2537.0 2755.3 2766.9 12

13 Mutual fund shares 1399.0 1528.6 1611.1 13

14 Miscellaneous assets 481.3 495.1 489.8 14

15 Unallocated insurance contracts (2) 338.4 363.9 355.3 15

16 Contributions receivable 44.8 42.8 49.8 16

17 Other 98.2 88.4 84.7 17

18 Pension fund reserves (liabilities) (3) 5356.8 5739.2 5876.1 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.
68 FFA, 2005-2007, March 6, 2008

L.119 State and Local Government Employee Retirement Funds

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 2721.4 3049.6 3152.3 1

 2 Checkable deposits and currency 15.8 13.3 17.1 2

 3 Time and savings deposits 1.3 0.8 1.0 3

 4 Money market fund shares 11.7 13.0 16.7 4

 5 Security RPs 19.7 22.6 29.2 5

 6 Credit market instruments 693.4 769.7 795.7 6

 7 Open market paper 35.2 40.1 51.8 7

 8 Treasury securities 153.8 153.0 161.9 8

 9 Agency- and GSE-backed securities 258.4 295.1 319.4 9

10 Municipal securities 1.7 1.7 0.8 10

11 Corporate and foreign bonds 227.9 265.6 248.7 11

12 Mortgages 16.4 14.1 13.2 12

13 Corporate equities 1715.8 1927.5 1980.9 13

14 Mutual fund shares 248.4 287.7 295.7 14

15 Miscellaneous assets 15.4 15.1 15.9 15

16 Pension fund reserves (liabilities) (1) 2765.2 3086.9 3181.0 16

(1) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.

L.120 Federal Government Retirement Funds (1)

Billions of dollars

 1 Total financial assets 1071.5 1141.1 1197.3 1

 2 Credit market instruments 76.0 84.3 96.1 2

 3 Treasury securities 68.4 76.7 88.1 3

 4 Agency- and GSE-backed securities 4.6 4.7 5.0 4

 5 Corporate and foreign bonds 2.9 2.9 3.0 5

 6 Corporate equities 112.6 138.1 149.2 6

 7 Miscellaneous assets (2) 882.9 918.7 952.0 7

 8 Pension fund reserves (liabilities) (3) 1071.5 1141.1 1197.3 8

(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

(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.

(3) Liabilities of the sector are assets of the household sector.
FFA, 2005-2007, March 6, 2008 69

L.121 Money Market Mutual Funds (1)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 2006.9 2312.1 3053.2 1

 2 Foreign deposits 94.7 84.1 134.3 2

 3 Checkable deposits and currency -0.9 6.7 2.7 3

 4 Time and savings deposits 183.0 206.7 266.7 4

 5 Security RPs 346.0 394.6 569.9 5

 6 Credit market instruments 1340.8 1560.8 1951.5 6

 7 Open market paper 492.2 608.3 711.1 7

 8 Treasury securities 88.6 82.7 177.9 8

 9 Agency- and GSE-backed securities 160.1 131.4 211.9 9

10 Municipal securities 336.8 370.3 473.5 10

11 Corporate and foreign bonds 263.2 368.3 377.1 11

12 Miscellaneous assets 43.3 59.2 128.1 12

13 Total shares outstanding (liabilities) 2006.9 2312.1 3053.2 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117).

L.122 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 6048.9 7068.3 7798.3 1

 2 Security RPs 115.4 132.8 142.7 2

 3 Credit market instruments 1747.1 1932.0 2194.5 3

 4 Open market paper 97.1 114.5 124.5 4

 5 Treasury securities 155.7 160.7 174.7 5

 6 Agency- and GSE-backed securities 483.4 499.1 551.2 6

 7 Municipal securities 311.7 344.4 371.8 7

 8 Corporate and foreign bonds 699.2 813.3 972.3 8

 9 Corporate equities 4175.7 4989.6 5443.4 9

10 Miscellaneous assets 10.7 14.0 17.8 10

11 Total shares outstanding (liabilities) 6048.9 7068.3 7798.3 11

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117).

L.123 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 270.7 294.3 318.9 1

 2 Credit market instruments 165.1 171.8 172.0 2

 3 Treasury securities 7.1 7.4 5.9 3

 4 Municipal securities 89.4 89.4 91.6 4

 5 Corporate and foreign bonds 68.7 75.1 74.6 5

 6 Corporate equities 105.6 122.5 146.9 6

 7 Total shares outstanding (liabilities) 270.7 294.3 318.9 7

 Exchange-traded funds

 8 Total financial assets 300.8 422.8 607.3 8

 9 Credit market instruments 15.0 20.7 33.7 9

10 Treasury securities 9.7 13.1 19.7 10

11 Corporate and foreign bonds 5.3 7.6 14.0 11

12 Corporate equities 285.8 402.0 573.7 12

13 Total shares outstanding (liabilities) 300.8 422.8 607.3 13
70 FFA, 2005-2007, March 6, 2008

L.124 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 2819.4 2872.9 3183.3 1

 2 Checkable deposits and currency 14.6 16.4 13.8 2

 3 Time and savings deposits 35.3 33.9 48.2 3

 4 Federal funds and security RPs 107.7 117.4 142.7 4

 5 Credit market instruments 2543.9 2590.5 2831.4 5

 6 Open market paper 13.8 32.4 28.2 6

 7 Treasury securities 13.1 14.2 15.3 7

 8 Agency- and GSE-backed securities 751.1 713.0 706.2 8

 9 Municipal securities 39.7 36.1 33.3 9

10 Corporate and foreign bonds 465.7 482.7 464.9 10

11 Other loans and advances 671.8 704.9 943.0 11

12 Sallie Mae 0.0 0.0 0.0 12

13 Farm Credit System 51.6 63.5 70.2 13

14 FHLB 620.2 641.4 872.8 14

15 Mortgages 588.8 607.2 640.5 15

16 Home 454.9 457.2 444.8 16

17 Multifamily residential 93.0 105.4 147.7 17

18 Farm 40.9 44.6 48.0 18

19 Consumer credit (2) 0.0 0.0 0.0 19

20 Miscellaneous assets 117.8 114.6 147.2 20

21 Total liabilities 2736.8 2782.0 3083.6 21

22 Credit market instruments 2592.2 2627.8 2909.9 22

23 GSE issues (3) 2592.2 2627.8 2909.9 23

24 U.S. government loans 0.0 0.0 0.0 24

25 Miscellaneous liabilities 144.5 154.2 173.7 25

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation.

 The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Sallie Mae student loans.

(3) Such issues are classified as agency- and GSE-backed securities.

L.125 Agency- and GSE-backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 3541.9 3837.3 4443.1 1

 2 Home mortgages 3419.7 3710.6 4302.5 2

 3 Multifamily residential mortgages 121.3 123.5 136.0 3

 4 Commercial mortgages 0.0 0.0 0.0 4

 5 Farm mortgages 0.8 3.2 4.6 5

 6 Total pool securities (liabilities)(2) 3541.9 3837.3 4443.1 6

(1) GNMA, Fannie Mae, Freddie Mac, 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, 2005-2007, March 6, 2008 71

L.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 3270.7 4043.6 4221.0 1

 2 Treasury securities 27.7 61.1 86.1 2

 3 Agency- and GSE-backed securities (1) 321.6 362.5 401.4 3

 4 Other loans and advances 88.5 90.2 80.4 4

 5 Mortgages (2) 2129.5 2720.9 2893.1 5

 6 Home 1607.8 2092.1 2116.6 6

 7 Multifamily residential 89.6 102.6 124.0 7

 8 Commercial 432.1 526.1 652.6 8

 9 Consumer credit 604.0 664.2 682.1 9

10 Trade credit 99.5 144.7 77.9 10

11 Total liabilities 3274.8 4047.2 4224.1 11

12 Commercial paper 658.3 818.6 636.6 12

13 Corporate bonds (net) (5) 2616.5 3228.6 3587.5 13

 Memo:

 Securitized assets not included above

14 Consumer leases (3) 4.2 3.6 3.1 14

15 REIT assets (4) 114.7 136.2 107.8 15

(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.128.

(5) Liabilities net of assets.

L.127 Finance Companies (1)

Billions of dollars

 1 Total financial assets 1856.9 1891.3 1911.2 1

 2 Checkable deposits and currency 44.2 44.2 44.2 2

 3 Credit market instruments 1537.1 1626.8 1633.0 3

 4 Other loans and advances 479.2 498.0 519.5 4

 5 Mortgages 541.4 594.4 533.3 5

 6 Consumer credit 516.5 534.4 580.2 6

 7 Miscellaneous assets 275.6 220.3 234.0 7

 8 Total liabilities 1828.3 1876.8 1892.8 8

 9 Credit market instruments 1108.6 1144.2 1174.1 9

10 Open market paper 160.0 165.3 157.9 10

11 Corporate bonds 806.5 849.6 843.0 11

12 Bank loans n.e.c. 142.1 129.2 173.3 12

13 Taxes payable 17.1 19.3 21.8 13

14 Miscellaneous liabilities 702.7 713.4 696.8 14

15 Foreign direct investment in U.S. 84.5 100.0 103.8 15

16 Investment by parent 312.2 338.5 325.9 16

17 Other 306.0 274.8 267.1 17

 Memo:

18 Consumer leases not included above (2) 85.3 106.0 122.9 18

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (3), table L.126.
72 FFA, 2005-2007, March 6, 2008

L.128 Real Estate Investment Trusts (REITs)

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 330.1 403.7 338.1 1

 2 Checkable deposits and currency 14.1 19.8 19.8 2

 3 Credit market instruments 267.0 324.5 258.8 3

 4 Agency- and GSE-backed securities 44.0 72.6 81.6 4

 5 Corporate and foreign bonds 63.6 80.9 29.2 5

 6 Mortgages 159.4 171.0 148.0 6

 7 Home 134.5 130.9 103.9 7

 8 Multifamily residential 1.8 5.2 5.1 8

 9 Commercial 23.0 34.9 38.9 9

10 Miscellaneous assets 48.9 59.4 59.5 10

11 Total liabilities 555.0 625.7 588.0 11

12 Security RPs 100.6 123.4 82.2 12

13 Credit market instruments 402.9 444.0 439.6 13

14 Open market paper 0.0 0.0 0.0 14

15 Corporate bonds 236.9 274.1 262.3 15

16 Bank loans n.e.c. 21.5 18.4 22.2 16

17 Mortgages 144.5 151.5 155.1 17

18 Miscellaneous liabilities 51.5 58.2 66.2 18

 Memo:

19 Securitized assets included above 114.7 136.2 107.8 19

20 Agency- and GSE-backed securities 0.0 0.0 0.0 20

21 Home mortgages 107.4 111.3 85.1 21

22 Multifamily residential mortgages 0.1 0.4 0.4 22

23 Commercial mortgages 7.1 24.5 22.3 23
FFA, 2005-2007, March 6, 2008 73

L.129 Security Brokers and Dealers

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 2127.1 2741.7 3095.3 1

 2 Checkable deposits and currency 56.5 80.5 102.7 2

 3 Credit market instruments 477.2 583.4 815.2 3

 4 Open market paper 60.2 64.3 82.8 4

 5 Treasury securities -64.6 -67.0 -38.6 5

 6 Agency- and GSE-backed securities 101.0 138.0 277.6 6

 7 Municipal securities 42.9 50.9 53.8 7

 8 Corporate and foreign bonds 337.7 397.2 439.7 8

 9 Corporate equities 158.3 186.4 218.1 9

10 Security credit 232.4 292.1 324.8 10

11 Miscellaneous assets 1202.6 1599.4 1634.4 11

12 Total liabilities 2092.5 2688.6 3046.0 12

13 Security RPs (net) 733.6 1071.8 1150.9 13

14 Corporate bonds 62.4 68.8 64.8 14

15 Trade payables 43.1 48.3 45.7 15

16 Security credit 806.0 957.8 1189.1 16

17 Customer credit balances (HH) 575.3 655.7 853.5 17

18 From banks 230.7 302.2 335.7 18

19 Taxes payable 2.1 2.8 2.2 19

20 Miscellaneous liabilities 445.5 539.1 593.3 20

21 Foreign direct investment in U.S. 89.9 80.5 83.4 21

22 Due to affiliates 812.4 881.6 900.7 22

23 Other -456.8 -423.1 -390.8 23

L.130 Funding Corporations (1)

Billions of dollars

 1 Total financial assets 1343.0 1446.6 1695.8 1

 2 Money market fund shares 311.5 315.9 569.3 2

 3 Credit market instruments 246.4 275.9 150.3 3

 4 Open market paper 178.9 215.5 -19.7 4

 5 Corporate and foreign bonds 67.5 60.4 170.0 5

 6 Miscellaneous assets (2) 785.0 854.8 976.2 6

 7 Investment in foreign banking offices 188.8 197.3 241.0 7

 8 Investment in brokers and dealers 596.3 657.5 735.2 8

 9 Total liabilities 1343.0 1446.6 1695.8 9

10 Credit market instruments 647.9 683.3 776.1 10

11 Open market paper 302.5 316.3 357.6 11

12 Corporate bonds 345.3 367.0 418.5 12

13 Miscellaneous liabilities 695.1 763.4 919.7 13

14 Foreign direct investment in U.S. 137.2 171.6 200.1 14

15 Securities loaned (net) 939.7 1242.3 1234.6 15

16 Other -381.8 -650.5 -515.0 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, 2005-2007, March 6, 2008

L.200 Gold and Official Foreign Exchange Holdings (1)

Billions of dollars

2005 2006 2007

 

 1 Total U.S. reserves 65.1 65.9 94.6 1

 2 U.S. gold stock and SDRs 19.3 19.9 20.5 2

 3 Federal govt.: Exchange Stab. Fund 8.2 8.9 9.5 3

 4 Monetary authority (2) 11.0 11.0 11.0 4

 5 U.S. foreign exchange position 45.9 46.0 74.0 5

 6 Official foreign currency holdings 37.8 40.9 69.8 6

 7 Treasury 18.9 20.5 22.5 7

 8 Monetary authority 18.9 20.5 47.3 8

 9 Net IMF position 8.0 5.0 4.2 9

10 Federal government 8.1 5.1 4.3 10

11 Monetary authority -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 2.2 2.2 2.2 1

 2 Asset: Monetary authority 2.2 2.2 2.2 2

 Treasury currency:

 3 Liab: Federal government 27.5 28.1 28.7 3

 4 Asset: Monetary authority 36.5 38.2 38.8 4

 5 Discrepancy (seigniorage) -9.1 -10.1 -10.1 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 1024.7 1123.5 1389.4 1

 Held by:

 2 Household sector 61.6 67.5 86.4 2

 3 Nonfinancial corporate business 60.6 64.3 55.0 3

 4 Money market mutual funds 94.7 84.1 134.3 4

 5 Discrepancy--unallocated assets 807.9 907.6 1113.7 5
FFA, 2005-2007, March 6, 2008 75

L.203 Net Interbank Transactions

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 201.3 190.0 133.7 1

 2 Monetary authority 69.1 70.4 75.7 2

 3 Depository institution reserves 19.0 18.7 20.8 3

 4 Vault cash 50.1 51.7 55.0 4

 5 Commercial banking 132.2 119.6 57.9 5

 6 To monetary authority 1.0 -0.3 48.6 6

 7 To banks in foreign countries, net 106.0 96.7 -12.4 7

 8 Liabilities, net 117.7 108.7 6.2 8

 9 U.S.-chartered commercial banks 320.9 432.3 540.6 9

10 Due to foreign affiliates 487.7 586.4 664.2 10

11 - Due from foreign affiliates 166.8 154.2 123.6 11

12 Foreign banking offices in U.S. -176.0 -255.1 -423.8 12

13 Due to foreign affiliates 333.9 524.5 526.6 13

14 - Due from foreign affiliates 509.9 779.6 950.4 14

15 Bank holding companies -27.1 -68.4 -110.6 15

16 Due to foreign affiliates 42.2 19.7 51.6 16

17 - Due from foreign affiliates 69.4 88.1 162.2 17

18 Less: Deposits at foreign banks 11.7 12.0 18.6 18

19 U.S. chartered commercial banks 11.0 11.9 17.9 19

20 Foreign banking offices in U.S. 0.7 0.1 0.7 20

21 To U.S. banking, net 25.2 23.2 21.7 21

22 U.S.-chartered commercial banks -18.4 -55.0 -27.5 22

23 Liabilities 109.6 122.4 135.6 23

24 To foreign offices in U.S. 83.0 97.8 113.3 24

25 To bank holding companies 1.4 1.3 0.7 25

26 Unallocated 25.2 23.2 21.7 26

 Less, due from:

27 Foreign offices in U.S. 117.9 140.0 133.7 27

28 Bank holding companies 10.0 37.4 29.3 28

29 Foreign banking offices in U.S. 34.9 42.2 20.4 29

30 Due to U.S. banks 117.9 140.0 133.7 30

31 - Due from U.S. banks 83.0 97.8 113.3 31

32 Bank holding companies 8.6 36.0 28.7 32

33 Due to U.S. banks 10.0 37.4 29.3 33

34 - Due from U.S. banks 1.4 1.3 0.7 34

35 Total assets 176.1 166.8 112.0 35

36 Rest of the world 106.0 96.7 -12.4 36

37 Domestic 70.1 70.1 124.4 37

38 Monetary authority 1.0 -0.3 48.6 38

39 Federal Reserve float 0.9 -0.3 -0.0 39

40 Loans to member banks 0.1 0.1 48.6 40

41 Commercial banking 66.4 68.4 73.2 41

42 Reserves at Federal Reserve 16.3 16.7 18.2 42

43 Vault cash 50.1 51.7 55.0 43

44 Savings insts.: Reserves at Fed. Res. 2.7 2.0 2.6 44

45 Discrepancy--floats, etc. 25.2 23.2 21.7 45
76 FFA, 2005-2007, March 6, 2008

L.204 Checkable Deposits and Currency

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 1525.2 1506.5 1532.0 1

 2 Monetary authority 748.8 773.6 790.6 2

 3 Federal government cash and deposits 4.8 5.0 16.4 3

 4 Deposits due to foreign 0.1 0.2 0.1 4

 5 Currency outside banks 743.9 768.5 774.1 5

 6 Commercial banking 610.3 574.4 586.8 6

 7 Federal government deposits 33.9 28.0 42.9 7

 8 Deposits due to foreign 19.6 28.8 33.5 8

 9 Private domestic deposits 556.8 517.6 510.4 9

10 Savings institutions 85.0 85.9 85.7 10

11 Credit unions 81.1 72.6 68.9 11

12 Total assets 1525.2 1506.5 1532.0 12

13 Household sector 156.2 122.3 78.4 13

14 Nonfinancial business 598.5 542.3 550.8 14

15 Corporate 252.4 173.2 160.9 15

16 Nonfarm noncorporate 323.1 344.1 363.1 16

17 Farm 22.9 25.0 26.8 17

18 State and local governments 52.5 58.6 55.6 18

19 Federal government 36.8 32.9 56.5 19

20 Rest of the world 371.5 393.2 408.8 20

21 Checkable deposits 19.7 28.9 33.6 21

22 Currency 351.7 364.3 375.2 22

23 Financial sectors 288.8 345.7 368.9 23

24 Commercial banking 3.0 2.9 2.4 24

25 Savings institutions 23.7 20.4 20.0 25

26 Credit unions 38.1 44.4 43.2 26

27 Property-casualty insurance companies 21.0 29.9 33.9 27

28 Life insurance companies 47.7 56.1 57.3 28

29 Private pension funds 10.8 11.2 11.7 29

30 State and local govt. retirement funds 15.8 13.3 17.1 30

31 Money market mutual funds -0.9 6.7 2.7 31

32 Government-sponsored enterprises 14.6 16.4 13.8 32

33 Finance companies 44.2 44.2 44.2 33

34 REITs 14.1 19.8 19.8 34

35 Brokers and dealers 56.5 80.5 102.7 35

36 Mail float 21.0 11.4 13.1 36
FFA, 2005-2007, March 6, 2008 77

L.205 Time and Savings Deposits 

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 6388.8 6997.0 7605.1 1

 2 Small time and savings deposits 4599.3 4946.3 5233.1 2

 3 Commercial banking 3528.1 3815.7 4077.8 3

 4 U.S.-chartered commercial banks 3494.2 3771.9 4025.0 4

 5 Foreign banking offices in U.S. 10.0 18.6 25.5 5

 6 Banks in U.S.-affiliated areas 23.9 25.2 27.3 6

 7 Savings institutions 618.7 647.6 644.3 7

 8 Credit unions 452.5 483.0 511.0 8

 9 Large time deposits (1) 1789.5 2050.8 2372.1 9

10 Commercial banking 1363.7 1627.7 1926.9 10

11 U.S.-chartered commercial banks 838.1 968.0 991.7 11

12 Foreign banking offices in U.S. 501.7 634.5 907.9 12

13 Banks in U.S.-affiliated areas 23.9 25.2 27.3 13

14 Savings institutions 363.3 358.0 374.7 14

15 Credit unions 62.5 65.0 70.5 15

16 Total assets 6388.8 6997.0 7605.1 16

17 Household sector 4921.0 5428.4 5880.1 17

18 Nonfinancial business 801.9 841.5 846.6 18

19 Corporate 450.4 445.2 392.1 19

20 Nonfarm noncorporate 351.6 396.3 454.5 20

21 State and local governments 183.3 209.6 245.5 21

22 Federal government 1.4 1.7 2.8 22

23 Rest of the world 174.9 187.9 221.1 23

24 Financial sectors 306.2 328.1 409.0 24

25 Savings institutions 2.7 6.6 9.9 25

26 Credit unions 21.9 17.0 17.2 26

27 Private pension funds 62.0 63.1 66.0 27

28 State and local govt. retirement funds 1.3 0.8 1.0 28

29 Money market mutual funds 183.0 206.7 266.7 29

30 Government-sponsored enterprises 35.3 33.9 48.2 30

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Total assets 2006.9 2312.1 3053.2 1

 2 Household sector 949.2 1114.5 1343.5 2

 3 Nonfinancial corporate business 366.5 431.2 592.4 3

 4 Nonfarm noncorporate business 73.9 83.3 98.0 4

 5 State and local governments 70.7 75.9 79.5 5

 6 Rest of the world 23.0 26.0 33.1 6

 7 Life insurance companies 113.6 162.3 226.6 7

 8 Private pension funds 86.7 90.1 94.1 8

 9 State and local govt. retirement funds 11.7 13.0 16.7 9

10 Funding corporations 311.5 315.9 569.3 10
78 FFA, 2005-2007, March 6, 2008

L.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 1998.0 2494.0 2571.4 1

 2 Commercial banking (net) 1085.1 1235.6 1292.5 2

 3 U.S.-chartered commercial banks 893.6 994.9 1065.4 3

 4 Foreign banking offices in U.S. 190.9 239.9 226.3 4

 5 Bank holding companies 0.6 0.8 0.8 5

 6 Savings institutions 78.7 63.1 45.8 6

 7 REITs 100.6 123.4 82.2 7

 8 Brokers and dealers (net) 733.6 1071.8 1150.9 8

 9 Total assets 1615.5 2019.8 2327.2 9

10 Nonfinancial corporate business 14.6 15.4 14.1 10

11 State and local governments 139.3 146.3 146.8 11

12 Rest of the world 713.3 1029.0 1099.6 12

13 Financial sectors 748.4 829.1 1066.7 13

14 Monetary authority 46.8 40.8 46.5 14

15 Savings institutions 9.0 18.3 45.6 15

16 Credit unions 6.7 5.1 2.5 16

17 Property-casualty insurance companies 68.9 66.0 46.6 17

18 Private pension funds 28.2 31.5 41.0 18

19 State and local govt. retirement funds 19.7 22.6 29.2 19

20 Money market mutual funds 346.0 394.6 569.9 20

21 Mutual funds 115.4 132.8 142.7 21

22 Government-sponsored enterprises 107.7 117.4 142.7 22

23 Discrepancy--unallocated assets 382.4 474.1 244.3 23

L.208 Open Market Paper

Billions of dollars

 1 Total outstanding, all types 1644.2 1958.0 1788.6 1

 2 Commercial paper 1640.1 1957.5 1788.1 2

 3 Nonfinancial corporate business 93.8 117.1 127.6 3

 4 Foreign issues in U.S. 368.4 461.4 395.4 4

 5 Nonfinancial 29.0 27.0 38.5 5

 6 Financial 339.4 434.4 356.8 6

 7 Financial business 1178.0 1379.0 1265.1 7

 8 Commercial banking 57.1 78.8 113.0 8

 9 ABS issuers 658.3 818.6 636.6 9

10 Finance companies 160.0 165.3 157.9 10

11 REITs 0.0 0.0 0.0 11

12 Funding corporations 302.5 316.3 357.6 12

13 Bankers acceptances (1) 4.1 0.5 0.5 13

14 Holdings, by sector 1644.2 1958.0 1788.6 14

15 Household sector 164.2 187.7 159.7 15

16 Nonfinancial corporate business 111.0 126.5 95.1 16

17 State and local governments 182.4 195.5 187.8 17

18 Rest of the world 239.6 287.6 292.3 18

19 Monetary authority 0.0 0.0 0.0 19

20 Commercial banking (1) 0.0 0.0 0.0 20

21 Savings institutions 0.0 0.0 0.0 21

22 Credit unions 0.8 1.0 0.4 22

23 Life insurance companies 40.2 53.1 41.8 23

24 Private pension funds 28.5 31.6 32.8 24

25 State and local govt. retirement funds 35.2 40.1 51.8 25

26 Money market mutual funds 492.2 608.3 711.1 26

27 Mutual funds 97.1 114.5 124.5 27

28 Government-sponsored enterprises 13.8 32.4 28.2 28

29 Brokers and dealers 60.2 64.3 82.8 29

30 Funding corporations 178.9 215.5 -19.7 30

(1) Excludes banks’ holdings of own acceptances.
FFA, 2005-2007, March 6, 2008 79

L.209 Treasury Securities

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 4678.0 4861.7 5099.2 1

 2 Savings bonds 205.1 202.4 196.4 2

 3 Other Treasury issues 4472.9 4659.4 4902.8 3

 4 Total assets 4678.0 4861.7 5099.2 4

 5 Household sector 549.7 490.2 308.8 5

 6 Savings bonds 205.1 202.4 196.4 6

 7 Other Treasury issues 344.6 287.8 112.4 7

 8 Nonfinancial corporate business 50.7 44.4 50.7 8

 9 Nonfarm noncorporate business 56.2 63.3 69.3 9

10 State and local governments 463.2 497.7 524.9 10

11 Rest of the world 1984.4 2115.0 2324.0 11

12 Monetary authority 744.2 778.9 740.6 12

13 Commercial banking 97.1 95.2 112.5 13

14 U.S.-chartered commercial banks 64.2 61.9 73.0 14

15 Foreign banking offices in U.S. 27.9 27.1 30.6 15

16 Bank holding companies 1.1 2.5 7.1 16

17 Banks in U.S.-affiliated areas 3.9 3.7 1.8 17

18 Savings institutions 12.3 12.4 7.0 18

19 Credit unions 7.7 7.4 7.0 19

20 Property-casualty insurance companies 69.2 75.8 78.3 20

21 Life insurance companies 91.2 83.2 86.1 21

22 Private pension funds 92.7 96.3 99.2 22

23 State and local govt. retirement funds 153.8 153.0 161.9 23

24 Federal government retirement funds 68.4 76.7 88.1 24

25 Money market mutual funds 88.6 82.7 177.9 25

26 Mutual funds 155.7 160.7 174.7 26

27 Closed-end funds 7.1 7.4 5.9 27

28 Exchange-traded funds 9.7 13.1 19.7 28

29 Government-sponsored enterprises 13.1 14.2 15.3 29

30 ABS issuers 27.7 61.1 86.1 30

31 Brokers and dealers -64.6 -67.0 -38.6 31

 Memo:

32 Federal government debt (1) 4701.9 4885.3 5122.3 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, 2005-2007, March 6, 2008

L.210 Agency- and GSE-backed Securities (1)

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 6158.0 6488.6 7376.1 1

 2 Budget agencies 23.8 23.5 23.1 2

 3 Government-sponsored enterprises 2592.2 2627.8 2909.9 3

 4 Agency- and GSE-backed mortgage pools 3541.9 3837.3 4443.1 4

 5 Total assets 6158.0 6488.6 7376.1 5

 6 Household sector 496.1 518.4 946.7 6

 7 Nonfinancial corporate business 18.8 16.4 18.7 7

 8 State and local governments 396.3 416.9 429.3 8

 9 Federal government 0.0 0.0 0.0 9

10 Rest of the world 1011.7 1189.1 1378.5 10

11 Monetary authority 0.0 0.0 0.0 11

12 Commercial banking 1089.6 1135.3 1022.3 12

13 U.S.-chartered commercial banks 992.7 1040.3 928.8 13

14 Foreign banking offices in U.S. 50.9 54.8 56.9 14

15 Bank holding companies 11.2 11.2 9.9 15

16 Banks in U.S.-affiliated areas 34.8 29.0 26.6 16

17 Savings institutions 192.3 169.3 168.6 17

18 Credit unions 86.4 72.5 67.4 18

19 Property-casualty insurance companies 117.9 122.0 127.7 19

20 Life insurance companies 368.5 377.4 393.2 20

21 Private pension funds 256.2 254.9 269.2 21

22 State and local govt. retirement funds 258.4 295.1 319.4 22

23 Federal government retirement funds 4.6 4.7 5.0 23

24 Money market mutual funds 160.1 131.4 211.9 24

25 Mutual funds 483.4 499.1 551.2 25

26 Government-sponsored enterprises 751.1 713.0 706.2 26

27 ABS issuers 321.6 362.5 401.4 27

28 REITs 44.0 72.6 81.6 28

29 Brokers and dealers 101.0 138.0 277.6 29

(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 Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mac, Freddie Mac, 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, 2005-2007, March 6, 2008 81

L.211 Municipal Securities and Loans

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 2225.9 2403.2 2617.8 1

 2 State and local governments 1844.1 1994.6 2178.1 2

 3 Short-term (1) 105.9 102.8 120.1 3

 4 Long-term 1738.2 1891.8 2058.0 4

 5 Nonprofit organizations (2) 205.1 226.9 250.2 5

 6 Nonfinancial corporate business 176.7 181.7 189.4 6

 (industrial revenue bonds)

 7 Total assets 2225.9 2403.2 2617.8 7

 8 Household sector 821.4 866.0 916.0 8

 9 Nonfinancial corporate business 32.1 40.4 40.1 9

10 Nonfarm noncorporate business 4.4 5.0 5.7 10

11 State and local governments 4.9 5.3 5.6 11

12 Rest of the world 29.0 31.0 33.0 12

13 Commercial banking 157.7 180.2 192.3 13

14 Savings institutions 8.6 10.7 10.6 14

15 Property-casualty insurance companies 313.2 335.2 351.6 15

16 Life insurance companies 32.5 36.6 38.2 16

17 State and local govt. retirement funds 1.7 1.7 0.8 17

18 Money market mutual funds 336.8 370.3 473.5 18

19 Mutual funds 311.7 344.4 371.8 19

20 Closed-end funds 89.4 89.4 91.6 20

21 Government-sponsored enterprises 39.7 36.1 33.3 21

22 Brokers and dealers 42.9 50.9 53.8 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 8596.6 9761.2 10723.1 1

 2 Nonfinancial corporate business 2998.1 3211.5 3525.6 2

 3 Rest of the world (1) 1028.2 1180.8 1322.6 3

 4 Financial sectors 4570.4 5368.9 5874.9 4

 5 Commercial banking 494.1 570.1 688.4 5

 6 Savings institutions 8.7 10.7 10.4 6

 7 ABS issuers (net) (3) 2616.5 3228.6 3587.5 7

 8 Finance companies 806.5 849.6 843.0 8

 9 REITs 236.9 274.1 262.3 9

10 Brokers and dealers 62.4 68.8 64.8 10

11 Funding corporations 345.3 367.0 418.5 11

12 Total assets 8596.6 9761.2 10723.1 12

13 Household sector 1285.9 1469.4 1504.7 13

14 State and local governments 125.6 133.6 140.4 14

15 Rest of the world (2) 1764.0 2250.8 2582.8 15

16 Commercial banking 687.0 780.3 978.8 16

17 Savings institutions 80.2 89.2 138.3 17

18 Credit unions 23.5 30.6 34.6 18

19 Property-casualty insurance companies 262.8 277.0 289.4 19

20 Life insurance companies 1840.7 1841.9 1910.3 20

21 Private pension funds 325.5 334.4 350.5 21

22 State and local govt. retirement funds 227.9 265.6 248.7 22

23 Federal government retirement funds 2.9 2.9 3.0 23

24 Money market mutual funds 263.2 368.3 377.1 24

25 Mutual funds 699.2 813.3 972.3 25

26 Closed-end funds 68.7 75.1 74.6 26

27 Exchange-traded funds 5.3 7.6 14.0 27

28 Government-sponsored enterprises 465.7 482.7 464.9 28

29 REITs 63.6 80.9 29.2 29

30 Brokers and dealers 337.7 397.2 439.7 30

31 Funding corporations 67.5 60.4 170.0 31

(1) Holdings of foreign issues by U.S. residents.

(2) Holdings of U.S. issues by foreign residents.

(3) Liabilities net of assets.
82 FFA, 2005-2007, March 6, 2008

L.213 Corporate Equities (1)

Billions of dollars

2005 2006 2007

 

 1 Issues at market value 18512.0 20909.3 21463.5 1

 2 Nonfinancial corporate business 10872.8 11519.4 12068.0 2

 3 Rest of the world (2) 3317.7 4251.5 4785.7 3

 4 Financial corporations 4321.5 5138.4 4609.9 4

 5 Holdings at market value 18512.0 20909.3 21463.5 5

 6 Household sector 5874.9 6178.3 5446.6 6

 7 State and local governments 95.5 102.4 107.4 7

 8 Rest of the world (3) 2039.1 2455.2 2806.3 8

 9 Commercial banking 24.1 35.3 41.5 9

10 Savings institutions 26.2 24.9 25.3 10

11 Property-casualty insurance companies 199.5 227.0 239.7 11

12 Life insurance companies 1161.8 1364.8 1517.6 12

13 Private pension funds 2537.0 2755.3 2766.9 13

14 State and local govt. retirement funds 1715.8 1927.5 1980.9 14

15 Federal government retirement funds 112.6 138.1 149.2 15

16 Mutual funds 4175.7 4989.6 5443.4 16

17 Closed-end funds 105.6 122.5 146.9 17

18 Exchange-traded funds 285.8 402.0 573.7 18

19 Brokers and dealers 158.3 186.4 218.1 19

 Memo:

20 Market value of domestic corporations (4) 14420.9 15684.6 15458.0 20

(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, 11, 17, 18, and 19; line 1 excludes intercorporate holdings of nonfinancial corporations.

L.214 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 6048.9 7068.3 7798.3 1

 2 Holdings at market value 6048.9 7068.3 7798.3 2

 3 Household sector 3839.7 4536.0 5081.9 3

 4 Nonfinancial corporate business 156.3 206.8 250.1 4

 5 State and local governments 29.2 31.3 32.8 5

 6 Rest of the world 242.0 295.5 326.0 6

 7 Commercial banking 17.4 24.5 29.5 7

 8 Credit unions 2.2 2.1 2.1 8

 9 Property-casualty insurance companies 5.7 6.9 7.7 9

10 Life insurance companies 109.0 148.8 161.4 10

11 Private pension funds 1399.0 1528.6 1611.1 11

12 State and local govt. retirement funds 248.4 287.7 295.7 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
FFA, 2005-2007, March 6, 2008 83

L.215 Bank Loans Not Elsewhere Classified

Billions of dollars

2005 2006 2007

 

 Total loans by commercial

 1 banking, flow of funds basis 5456.0 6129.8 6785.7 1

 - Loans elsewhere classified:

 2 Open market paper 0.0 0.0 0.0 2

 3 Mortgages 2958.0 3403.1 3633.3 3

 4 Consumer credit 707.0 741.2 804.6 4

 5 Security credit 230.7 302.2 335.7 5

 6 = Banking sector total bank loans n.e.c. 1560.3 1683.4 2012.2 6

 7 U.S.-chartered commercial banks 1231.6 1290.8 1515.9 7

 8 Foreign banking offices in U.S. 294.7 361.8 466.8 8

 9 Bank holding companies 8.1 5.1 5.9 9

10 Banks in U.S.-affiliated areas 25.9 25.6 23.7 10

11 + Loans from Federal Reserve banks 0.0 0.0 0.0 11

12 = Total bank loans n.e.c. 1560.3 1683.4 2012.2 12

13 Total liabilities 1560.3 1683.4 2012.2 13

14 Nonfinancial sectors 1321.2 1508.4 1782.9 14

15 Households 48.3 96.3 130.7 15

16 Corporate business 514.5 569.7 675.4 16

17 Nonfarm noncorporate business 624.1 691.0 818.4 17

18 Farm business 49.9 53.2 55.5 18

19 Rest of the world 84.4 98.3 103.0 19

20 Foreign official institutions 2.6 1.9 1.9 20

21 Foreign banks 18.1 21.9 30.2 21

22 Other foreign 63.7 74.4 70.9 22

23 Financial sectors 239.1 175.0 229.2 23

24 Savings institutions 75.5 27.3 33.8 24

25 Finance companies 142.1 129.2 173.3 25

26 REITs 21.5 18.4 22.2 26
84 FFA, 2005-2007, March 6, 2008

L.216 Other Loans and Advances

Billions of dollars

2005 2006 2007

 

 1 Total other loans and advances 1677.6 1735.4 2083.6 1

 2 U.S. government loans 105.6 104.1 106.2 2

 3 Liab.: Household sector 11.8 12.2 12.6 3

 4 Nonfinancial corporate business 9.0 9.8 10.3 4

 5 Nonfarm noncorporate business 36.7 40.9 43.9 5

 6 Farm business 3.9 3.8 3.7 6

 7 State and local governments 10.3 11.0 11.7 7

 8 Rest of the world 33.7 26.4 24.0 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 9

10 Foreign loans to U.S. corporate business 159.6 159.4 244.5 10

11 Liab.: Nonfinancial corporate business 159.6 159.4 244.5 11

 Customers’ liability on acceptances

12 outstanding (bank asset) 4.0 0.4 0.5 12

13 Liab.: Nonfinancial corporate business 3.8 0.3 0.2 13

14 Rest of the world 0.2 0.2 0.3 14

15 Savings institution loans to business 61.5 67.5 73.7 15

16 Liab.: Nonfinancial corporate business 30.7 33.7 36.8 16

17 Nonfarm noncorporate business 30.7 33.7 36.8 17

18 Policy loans (Household liability) 107.6 110.9 115.8 18

19 Asset: Federal government 0.7 0.6 0.6 19

20 Life insurance companies 106.9 110.2 115.2 20

21 Government-sponsored enterprise loans 671.8 704.9 943.0 21

22 Liab.: Household sector (SLMA) 0.0 0.0 0.0 22

23 Noncorporate business (FCS) 20.0 24.2 26.5 23

24 Farm business (FCS) 31.6 39.3 43.7 24

25 Commercial banks (FHLB and SLMA) 268.5 348.5 455.1 25

26 Savings institutions (FHLB and SLMA) 325.5 259.8 356.7 26

27 Credit unions (FHLB) 14.7 18.9 32.4 27

28 Life insurance companies (FHLB) 11.5 14.2 28.7 28

29 Securitized loans held by ABS issuers 88.5 90.2 80.4 29

30 Liab.: Nonfinancial corporate business 88.5 90.2 80.4 30

31 Finance company loans to business 479.2 498.0 519.5 31

32 Liab.: Nonfinancial corporate business 431.3 448.2 467.5 32

33 Nonfarm noncorporate business 47.9 49.8 51.9 33
FFA, 2005-2007, March 6, 2008 85

L.217 Total Mortgages

Billions of dollars

2005 2006 2007

 

 1 Total mortgages 12096.3 13500.4 14557.1 1

 2 Home 9374.3 10444.0 11135.8 2

 3 Multifamily residential 687.7 740.6 831.0 3

 4 Commercial 1932.8 2206.8 2472.8 4

 5 Farm 101.5 109.0 117.5 5

 6 Total liabilities 12096.3 13500.4 14557.1 6

 7 Household sector 9067.4 10083.8 10765.5 7

 8 Nonfinancial business 2884.4 3265.1 3636.5 8

 9 Corporate 767.4 874.0 971.6 9

10 Nonfarm noncorporate 2015.5 2282.1 2547.4 10

11 Farm 101.5 109.0 117.5 11

12 Federal government 0.0 0.0 0.0 12

13 REITs 144.5 151.5 155.1 13

14 Total assets 12096.3 13500.4 14557.1 14

15 Household sector 132.4 135.4 141.2 15

16 Nonfinancial corporate business 68.3 69.9 71.6 16

17 Nonfarm noncorporate business 36.2 40.8 46.2 17

18 State and local governments 149.9 157.7 167.1 18

19 Federal government 77.8 81.5 83.4 19

20 Commercial banking 2958.0 3403.1 3633.3 20

21 Savings institutions (1) 1152.7 1074.0 1095.2 21

22 Credit unions 245.6 276.6 310.7 22

23 Property-casualty insurance companies 2.7 3.5 4.6 23

24 Life insurance companies 285.5 303.8 323.1 24

25 Private pension funds 9.8 9.5 9.7 25

26 State and local govt. retirement funds 16.4 14.1 13.2 26

27 Government-sponsored enterprises (1) 588.8 607.2 640.5 27

28 Agency- and GSE-backed mortgage pools 3541.9 3837.3 4443.1 28

29 ABS issuers 2129.5 2720.9 2893.1 29

30 Finance companies 541.4 594.4 533.3 30

31 REITs 159.4 171.0 148.0 31

(1) FHLB loans to savings institutions are included in other loans and advances.
86 FFA, 2005-2007, March 6, 2008

L.218 Home Mortgages (1)

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 9374.3 10444.0 11135.8 1

 2 Household sector 8866.2 9854.0 10508.8 2

 3 Nonfinancial corporate business 31.1 39.4 41.4 3

 4 Nonfarm noncorporate business 477.0 550.6 585.6 4

 5 Total assets 9374.3 10444.0 11135.8 5

 6 Household sector 118.5 124.6 130.7 6

 7 Nonfinancial corporate business 40.6 41.2 41.9 7

 8 Nonfarm noncorporate business 13.3 14.9 16.9 8

 9 State and local governments 76.5 80.4 85.2 9

10 Federal government 14.4 14.6 14.8 10

11 Commercial banking 1793.0 2081.8 2201.3 11

12 Savings institutions 953.8 867.8 878.9 12

13 Credit unions 245.6 276.6 310.7 13

14 Life insurance companies 4.6 6.7 7.3 14

15 Private pension funds 1.4 1.3 1.2 15

16 State and local govt. retirement funds 5.9 5.1 4.8 16

17 Government-sponsored enterprises 454.9 457.2 444.8 17

18 Agency- and GSE-backed mortgage pools 3419.7 3710.6 4302.5 18

19 ABS issuers 1607.8 2092.1 2116.6 19

20 Finance companies 489.8 538.1 474.2 20

21 REITs 134.5 130.9 103.9 21

 Memo:

22 Home equity loans included above (2) 911.5 1059.1 1119.5 22

23 Commercial banking 549.0 653.6 692.2 23

24 Savings institutions 151.6 137.6 176.9 24

25 Credit unions 75.9 86.9 93.5 25

26 ABS issuers 37.0 73.4 62.1 26

27 Finance companies 98.0 107.6 94.8 27

(1) Mortgages on 1-4 family properties including mortages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 687.7 740.6 831.0 1

 2 Nonfinancial corporate business 34.4 36.5 38.3 2

 3 Nonfarm noncorporate business 629.1 679.1 771.5 3

 4 Federal government 0.0 0.0 0.0 4

 5 REITs 24.1 24.9 21.3 5

 6 Total assets 687.7 740.6 831.0 6

 7 Household sector 1.5 1.6 1.7 7

 8 Nonfinancial corporate business 1.1 1.1 1.2 8

 9 Nonfarm noncorporate business 12.3 13.8 15.7 9

10 State and local governments 60.0 63.1 66.8 10

11 Federal government 14.9 14.8 14.4 11

12 Commercial banking 138.7 157.6 167.0 12

13 Savings institutions 98.4 95.8 92.7 13

14 Life insurance companies 42.4 44.8 47.6 14

15 Private pension funds 2.1 2.0 2.1 15

16 State and local govt. retirement funds 4.9 4.2 4.0 16

17 Government-sponsored enterprises 93.0 105.4 147.7 17

18 Agency- and GSE-backed mortgage pools 121.3 123.5 136.0 18

19 ABS issuers 89.6 102.6 124.0 19

20 Finance companies 5.6 5.1 5.1 20

21 REITs 1.8 5.2 5.1 21
FFA, 2005-2007, March 6, 2008 87

L.220 Commercial Mortgages

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 1932.8 2206.8 2472.8 1

 2 Household sector 201.3 229.8 256.7 2

 3 Nonfinancial corporate business 701.8 798.1 891.9 3

 4 Nonfarm noncorporate business 909.4 1052.3 1190.3 4

 5 REITs 120.4 126.6 133.8 5

 6 Total assets 1932.8 2206.8 2472.8 6

 7 Household sector 10.5 11.2 11.9 7

 8 Nonfinancial corporate business 26.6 27.6 28.5 8

 9 Nonfarm noncorporate business 9.2 10.4 11.8 9

10 State and local governments 12.0 12.6 13.4 10

11 Federal government 45.2 48.9 50.8 11

12 Commercial banking 989.4 1123.2 1221.2 12

13 Savings institutions 100.0 109.6 122.7 13

14 Property-casualty insurance companies 2.7 3.5 4.6 14

15 Life insurance companies 224.3 236.7 251.5 15

16 Private pension funds 6.3 6.2 6.3 16

17 State and local govt. retirement funds 5.6 4.8 4.5 17

18 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 18

19 ABS issuers 432.1 526.1 652.6 19

20 Finance companies 46.0 51.1 54.0 20

21 REITs 23.0 34.9 38.9 21

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities (Farm business) 101.5 109.0 117.5 1

 2 Total assets 101.5 109.0 117.5 2

 3 Household sector 1.8 -2.0 -3.1 3

 4 Nonfarm noncorporate business 1.4 1.6 1.8 4

 5 State and local governments 1.5 1.6 1.7 5

 6 Federal government 3.2 3.2 3.3 6

 7 Commercial banking 36.9 40.5 43.7 7

 8 Savings institutions 0.6 0.7 0.9 8

 9 Life insurance companies 14.2 15.6 16.7 9

10 State and local govt. retirement funds 0.0 0.0 0.0 10

11 Government-sponsored enterprises 40.9 44.6 48.0 11

12 Agency- and GSE-backed mortgage pools 0.8 3.2 4.6 12

(1) Excludes mortgages on farm houses.
88 FFA, 2005-2007, March 6, 2008

L.222 Consumer Credit

Billions of dollars

2005 2006 2007

 

 1 Total liabilities (Households) 2313.9 2418.3 2550.6 1

 2 Total assets 2313.9 2418.3 2550.6 2

 3 Nonfinancial corporate business 58.8 56.8 55.2 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 4

 5 Federal government 89.8 91.7 98.2 5

 6 Commercial banking 707.0 741.2 804.6 6

 7 Savings institutions 109.1 95.5 90.9 7

 8 Credit unions 228.6 234.5 239.3 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 9

10 ABS issuers 604.0 664.2 682.1 10

11 Finance companies 516.5 534.4 580.2 11

L.223 Trade Credit

Billions of dollars

 1 Total trade payables 2996.3 3166.0 3341.1 1

 2 Household sector 182.3 191.3 200.3 2

 3 Nonfinancial corporate business 1699.4 1775.4 1848.1 3

 4 Nonfarm noncorporate business 329.4 359.5 395.3 4

 5 Farm business 6.3 2.0 1.0 5

 6 State and local governments 482.6 518.1 556.9 6

 7 Federal government 198.8 210.8 221.2 7

 8 Rest of the world 54.5 60.7 72.7 8

 9 Brokers and dealers 43.1 48.3 45.7 9

10 Total trade receivables 2992.0 3220.1 3352.4 10

11 Nonfinancial corporate business 2109.0 2215.3 2321.1 11

12 Nonfarm noncorporate business 430.9 485.7 551.0 12

13 State and local governments 142.7 153.1 160.6 13

14 Federal government 70.9 71.3 71.5 14

15 Rest of the world 56.9 63.1 79.9 15

16 Property-casualty insurance companies 82.1 87.0 90.5 16

17 ABS issuers 99.5 144.7 77.9 17

18 Discrepancy 4.3 -54.1 -11.3 18

L.224 Security Credit

Billions of dollars

 1 Total liabilities 1038.4 1249.9 1514.0 1

 2 Household sector 232.4 292.1 324.8 2

 3 Rest of the world 0.0 0.0 0.0 3

 4 Brokers and dealers 806.0 957.8 1189.1 4

 5 Customer credit balances (HH) 575.3 655.7 853.5 5

 6 From U.S.-chartered commercial banks 95.6 116.5 147.0 6

 7 From foreign banking offices in U.S. 135.1 185.6 188.6 7

 8 Total assets 1038.4 1249.9 1514.0 8

 9 Household sector 575.3 655.7 853.5 9

10 Rest of the world 0.0 0.0 0.0 10

11 Commercial banking 230.7 302.2 335.7 11

12 Brokers and dealers 232.4 292.1 324.8 12
FFA, 2005-2007, March 6, 2008 89

L.225 Life Insurance and Pension Fund Reserves

Billions of dollars

2005 2006 2007

 

 Life insurance reserves:

 1 Total liabilities 1082.6 1163.7 1204.8 1

 2 Federal government 42.7 44.2 45.4 2

 3 Life insurance companies 1039.9 1119.5 1159.4 3

 4 Total assets (Households) 1082.6 1163.7 1204.8 4

 Pension fund reserves:

 5 Total liabilities 11391.0 12323.6 12779.5 5

 6 Life insurance companies 2197.4 2356.4 2525.2 6

 7 Private pension funds (1) 5356.8 5739.2 5876.1 7

 8 State and local govt. retirement funds 2765.2 3086.9 3181.0 8

 9 Federal government retirement funds (2) 1071.5 1141.1 1197.3 9

10 Total assets (Households) (3) 11391.0 12323.6 12779.5 10

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other 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 297.0 316.9 340.9 1

 2 Nonfinancial corporate business 93.1 92.1 93.4 2

 3 Nonfarm noncorporate business 86.7 92.3 98.9 3

 4 U.S.-chartered commercial banks 25.6 29.3 33.3 4

 5 Savings institutions 2.6 2.1 2.3 5

 6 Property-casualty insurance companies 38.2 43.4 49.0 6

 7 Life insurance companies 31.6 35.6 40.0 7

 8 Finance companies 17.1 19.3 21.8 8

 9 Brokers and dealers 2.1 2.8 2.2 9

10 Total business taxes receivable 200.3 264.0 314.7 10

11 State and local governments 126.4 185.1 238.5 11

12 Federal government 74.0 78.8 76.2 12

13 Discrepancy 96.7 53.0 26.2 13

L.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 6651.4 7329.8 7891.9 1

 2 Nonfarm noncorporate business 5172.3 5668.0 6030.4 2

 3 Farm business 1473.2 1654.4 1852.6 3

 4 Brokers and dealers 5.9 7.3 8.9 4
90 FFA, 2005-2007, March 6, 2008

L.228 Total Miscellaneous Financial Claims

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 13967.2 14579.8 15113.9 1

 2 Household sector 22.4 22.8 24.0 2

 3 Nonfinancial corporate business 4079.6 3570.2 3075.4 3

 4 Nonfarm noncorporate business 860.4 899.9 939.1 4

 5 Federal government 946.1 1002.4 1084.4 5

 6 Rest of the world 2523.4 3106.7 3288.7 6

 7 Monetary authority 47.8 48.9 66.6 7

 8 Commercial banking 1689.5 1814.5 2210.3 8

 9 Savings institutions 177.7 205.3 201.4 9

10 Credit unions 11.9 9.2 5.3 10

11 Property-casualty insurance companies 761.0 785.3 814.8 11

12 Life insurance companies 808.0 886.2 954.1 12

13 Government-sponsored enterprises 144.5 154.2 173.7 13

14 Finance companies 702.7 713.4 696.8 14

15 REITs 51.5 58.2 66.2 15

16 Brokers and dealers 445.5 539.1 593.3 16

17 Funding corporations 695.1 763.4 919.7 17

18 Total assets 18816.5 20340.2 21765.7 18

19 Household sector 591.1 631.2 709.3 19

20 Nonfinancial corporate business 8159.7 8440.9 8784.7 20

21 Nonfarm noncorporate business 1156.2 1316.3 1491.1 21

22 Farm business 44.5 48.6 52.0 22

23 State and local governments 58.2 16.4 5.0 23

24 Federal government 100.9 101.8 103.6 24

25 Rest of the world 2720.1 3271.8 3606.4 25

26 Monetary authority 18.1 17.0 16.4 26

27 Commercial banking 1717.8 1750.5 1955.8 27

28 Savings institutions 108.3 123.9 127.2 28

29 Credit unions 24.2 24.9 35.1 29

30 Property-casualty insurance companies 100.7 99.0 111.4 30

31 Life insurance companies 153.1 147.1 113.0 31

32 Private pension funds 481.3 495.1 489.8 32

33 State and local govt. retirement funds 15.4 15.1 15.9 33

34 Federal government retirement funds 882.9 918.7 952.0 34

35 Money market mutual funds 43.3 59.2 128.1 35

36 Mutual funds 10.7 14.0 17.8 36

37 Government-sponsored enterprises 117.8 114.6 147.2 37

38 Finance companies 275.6 220.3 234.0 38

39 REITs 48.9 59.4 59.5 39

40 Brokers and dealers 1202.6 1599.4 1634.4 40

41 Funding corporations 785.0 854.8 976.2 41

42 Discrepancy -4849.3 -5760.5 -6651.9 42
FFA, 2005-2007, March 6, 2008 91

L.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

2005 2006 2007

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 2535.2 2855.6 3136.1 1

 2 Asset: Nonfinancial corporate business 2047.8 2324.9 2515.5 2

 3 Commercial banking 97.5 105.4 129.2 3

 4 Property-casualty insurance companies 100.7 99.0 111.4 4

 5 Life insurance companies 40.4 43.0 50.2 5

 6 Finance companies 211.5 242.0 279.4 6

 7 Brokers and dealers 37.4 41.4 50.5 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 1292.3 1437.9 1592.8 8

 9 Nonfarm noncorporate business 2.5 2.8 3.3 9

10 Commercial banking 130.7 149.0 182.1 10

11 Property-casualty insurance companies 61.9 69.5 73.9 11

12 Life insurance companies 69.5 88.1 95.1 12

13 Finance companies 84.5 100.0 103.8 13

14 Brokers and dealers 89.9 80.5 83.4 14

15 Funding corporations 137.2 171.6 200.1 15

16 Asset: Rest of the world 1868.2 2099.4 2334.5 16

 Federal government equity in IBRD, etc.:

17 Liab.: Rest of the world 43.2 45.3 47.7 17

18 Asset: Federal government 43.2 45.3 47.7 18

 Federal Reserve Bank stock:

19 Liab.: Monetary authority 13.5 15.3 18.5 19

20 Asset: Commercial banking 13.5 15.3 18.5 20

 Equity in government-sponsored enterprises:

21 Liab.: Government-sponsored enterprises 46.7 46.9 55.9 21

22 Asset: Nonfin. corporate business (Fannie Mae) 0.0 0.0 0.0 22

23 Nonfarm noncorporate (BC) 1.8 1.9 2.1 23

24 Farm business (FICB and FLB) 2.8 3.0 3.5 24

25 Federal government 0.0 0.0 0.0 25

26 Commercial banks (FHLB) 20.2 22.9 26.7 26

27 Savings institutions (FHLB) 18.5 15.6 18.8 27

28 Credit unions (FHLB) 1.8 1.9 2.5 28

29 Life insurance companies (FHLB) 1.6 1.6 2.2 29

 BHC investment in subsidiaries:

30 Liab.: Commercial banking 897.0 1006.9 1133.3 30

31 Savings institutions 11.8 13.2 14.8 31

32 Finance companies 156.1 169.3 162.9 32

33 Brokers and dealers 216.1 224.1 165.5 33

34 Asset: Bank holding companies 1281.0 1413.5 1476.4 34

 NFC inv. in finance company subs.:

35 Liab.: Finance companies 156.1 169.3 162.9 35

36 Asset: Nonfinancial corporate business 156.1 169.3 162.9 36

 Funding corp. investment in subs.:

37 Liab.: Foreign banking offices in U.S. 188.8 197.3 241.0 37

38 Brokers and dealers 596.3 657.5 735.2 38

39 Asset: Funding corporations 785.0 854.8 976.2 39
92 FFA, 2005-2007, March 6, 2008

L.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

2005 2006 2007

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 0.6 0.6 0.4 1

 2 Asset: Federal government 0.6 0.6 0.4 2

 Postal Savings System deposits:

 3 Liab.: Federal government 0.0 0.0 0.0 3

 4 Asset: Household sector 0.0 0.0 0.0 4

 Deposits at Federal Home Loan Banks:

 5 Liab.: Government-sponsored enterprises 19.2 19.0 22.1 5

 6 Asset: Savings institutions 19.2 19.0 22.1 6

 Deferred and unpaid life insurance premiums:

 7 Liab.: Household sector 22.4 22.8 24.0 7

 8 Asset: Life insurance companies 22.4 22.8 24.0 8

 Life insurance company reserves:

 9 Liab.: Life insurance companies 217.3 232.1 251.2 9

10 Health 138.3 149.8 162.3 10

11 Policy dividend accumulation 42.7 43.5 46.0 11

12 Policy and contract claims 36.3 38.8 42.8 12

13 Asset: Household sector 217.3 232.1 251.2 13

 Policy payables:

14 Liab.: Property-casualty insurance companies 699.2 715.8 740.8 14

15 Asset: Household sector 316.0 320.5 330.5 15

16 Nonfinancial corporate business 276.2 282.7 292.8 16

17 Nonfarm noncorporate business 65.3 66.9 69.0 17

18 Farm business 41.7 45.6 48.5 18

 Unallocated insurance company contracts:

19 Liab.: Life insurance companies 338.4 363.9 355.3 19

20 Asset: Private pension funds 338.4 363.9 355.3 20

 Pension fund contributions payable:

21 Liab.: Nonfinancial corporate business 44.8 42.8 49.8 21

22 Asset: Private pension funds 44.8 42.8 49.8 22

 Securities borrowed (net):

23 Liab.: Funding corporations 939.7 1242.3 1234.6 23

24 Asset: Brokers and dealers 939.7 1242.3 1234.6 24

 Nonmarketable government securities:

25 Liab.: Federal government 882.9 918.7 952.0 25

26 Asset: Federal government retirement funds 882.9 918.7 952.0 26

 Retiree Health Care Funds (1):

27 Liab.: Federal government 57.8 78.6 127.6 27

28 Asset: Household sector 57.8 78.6 127.6 28

(1) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
FFA, 2005-2007, March 6, 2008 93

L.231 Unidentified Miscellaneous Financial Claims

Billions of dollars

2005 2006 2007

 

 1 Total liabilities 4016.0 3443.1 3147.8 1

 2 Nonfinancial corporate business 2742.6 2089.5 1432.9 2

 3 Nonfarm noncorporate business 857.9 897.1 935.9 3

 4 Federal government 5.4 5.1 4.9 4

 5 Rest of the world -55.6 205.3 104.4 5

 6 Monetary authority 34.3 33.6 48.2 6

 7 Commercial banking 473.1 461.3 653.9 7

 8 U.S.-chartered commercial banks 270.6 326.4 418.9 8

 9 Foreign banking offices in U.S. -55.6 -191.5 -120.9 9

10 Bank holding companies 216.0 288.6 322.4 10

11 Banks in U.S.-affiliated areas 42.2 37.7 33.7 11

12 Savings institutions 165.9 192.1 186.6 12

13 Credit unions 11.9 9.2 5.3 13

14 Life insurance companies 182.9 202.1 252.5 14

15 Government-sponsored enterprises 78.7 88.3 95.8 15

16 Finance companies 306.0 274.8 267.1 16

17 REITs 51.5 58.2 66.2 17

18 Brokers and dealers -456.8 -423.1 -390.8 18

19 Funding corporations -381.8 -650.5 -515.0 19

20 Total assets 8865.3 9203.6 9799.7 20

21 Nonfinancial corporate business 5679.6 5664.0 5813.5 21

22 Nonfarm noncorporate business 1089.1 1247.5 1420.0 22

23 State and local governments 58.2 16.4 5.0 23

24 Federal government 57.1 56.0 55.4 24

25 Rest of the world 851.9 1172.4 1271.8 25

26 Monetary authority 18.1 17.0 16.4 26

27 Commercial banking 305.6 193.4 305.1 27

28 U.S.-chartered commercial banks 102.0 103.9 166.7 28

29 Foreign banking offices in U.S. -12.3 -162.6 -148.7 29

30 Bank holding companies 210.6 246.2 277.9 30

31 Banks in U.S.-affiliated areas 5.3 5.9 9.2 31

32 Savings institutions 70.6 89.4 86.3 32

33 Credit unions 22.4 23.0 32.6 33

34 Life insurance companies 88.8 79.7 36.5 34

35 Private pension funds 98.2 88.4 84.7 35

36 State and local govt. retirement funds 15.4 15.1 15.9 36

37 Mutual funds 10.7 14.0 17.8 37

38 Money market mutual funds 43.3 59.2 128.1 38

39 Government-sponsored enterprises 117.8 114.6 147.2 39

40 Finance companies 64.1 -21.6 -45.4 40

41 REITs 48.9 59.4 59.5 41

42 Brokers and dealers 225.6 315.8 349.3 42

43 Discrepancy -4849.3 -5760.5 -6651.9 43
94 FFA, 2005-2007, March 6, 2008

B.100 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

2005 2006 2007

 

 1 Assets 63971.1 69254.7 72092.5 1

 2 Tangible assets 24427.5 26036.7 26759.5 2

 3 Real estate 20486.4 21931.8 22483.3 3

 4 Households (2,3) 18694.8 19887.5 20154.7 4

 5 Nonprofit organizations 1791.6 2044.3 2328.6 5

 Equipment and software owned by

 6 nonprofit organizations (4) 213.8 229.8 240.8 6

 7 Consumer durable goods (4) 3727.2 3875.1 4035.3 7

 8 Financial assets 39543.7 43218.0 45333.0 8

 9 Deposits 6087.9 6732.7 7388.5 9

10 Foreign deposits 61.6 67.5 86.4 10

11 Checkable deposits and currency 156.2 122.3 78.4 11

12 Time and savings deposits 4921.0 5428.4 5880.1 12

13 Money market fund shares 949.2 1114.5 1343.5 13

14 Credit market instruments 3449.8 3666.9 3977.0 14

15 Open market paper 164.2 187.7 159.7 15

16 Treasury securities 549.7 490.2 308.8 16

17 Savings bonds 205.1 202.4 196.4 17

18 Other Treasury 344.6 287.8 112.4 18

19 Agency- and GSE-backed securities 496.1 518.4 946.7 19

20 Municipal securities 821.4 866.0 916.0 20

21 Corporate and foreign bonds 1285.9 1469.4 1504.7 21

22 Mortgages 132.4 135.4 141.2 22

23 Corporate equities (2) 5874.9 6178.3 5446.6 23

24 Mutual fund shares (5) 3839.7 4536.0 5081.9 24

25 Security credit 575.3 655.7 853.5 25

26 Life insurance reserves 1082.6 1163.7 1204.8 26

27 Pension fund reserves 11391.0 12323.6 12779.5 27

28 Equity in noncorporate business (6) 6651.4 7329.8 7891.9 28

29 Miscellaneous assets 591.1 631.2 709.3 29

30 Liabilities 12191.1 13454.5 14374.5 30

31 Credit market instruments 11754.1 12948.3 13825.4 31

32 Home mortgages (7) 8866.2 9854.0 10508.8 32

33 Consumer credit 2313.9 2418.3 2550.6 33

34 Municipal securities (8) 205.1 226.9 250.2 34

35 Bank loans n.e.c. 48.3 96.3 130.7 35

36 Other loans and advances 119.4 123.1 128.4 36

37 Commercial mortgages (8) 201.3 229.8 256.7 37

38 Security credit 232.4 292.1 324.8 38

39 Trade payables (8) 182.3 191.3 200.3 39

 Deferred and unpaid

40 life insurance premiums 22.4 22.8 24.0 40

41 Net worth 51780.0 55800.2 57718.0 41

 Memo:

 Replacement-cost value of structures:

42 Residential 13219.2 13955.7 14326.9 42

43 Households 12736.8 13461.7 13832.5 43

44 Farm households 298.2 304.2 303.2 44

45 Nonprofit organizations 184.1 189.8 191.2 45

46 Nonresidential (nonprofits) 1172.2 1285.2 1324.1 46

47 Disposable personal income 9092.0 9629.1 10175.2 47

 Household net worth as percentage of

48 disposable personal income 569.5 579.5 567.2 48

 Owners’ equity in household real

49 estate (9) 9828.7 10033.5 9646.0 49

 Owners’ equity as percentage of

50 household real estate (10) 52.6 50.5 47.9 50

(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 22.

(8) Liabilities of nonprofit organizations.

(9) Line 4 less line 32.

(10) Line 49 divided by line 4.
FFA, 2005-2007, March 6, 2008 95

B.102 Balance Sheet of Nonfarm Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007

 

 With tangible assets stated at either market value or replacement cost:

 1 Assets 23705.7 25399.8 27428.0 1

 2 Tangible assets 11796.6 13053.1 14526.3 2

 3 Real estate (1) 6706.9 7672.2 8855.5 3

 4 Equipment and software (2) 3495.5 3700.4 3882.9 4

 5 Inventories (2) 1594.2 1680.5 1787.9 5

 6 Financial assets 11909.0 12346.7 12901.7 6

 7 Foreign deposits 60.6 64.3 55.0 7

 8 Checkable deposits and currency 252.4 173.2 160.9 8

 9 Time and savings deposits 450.4 445.2 392.1 9

10 Money market fund shares 366.5 431.2 592.4 10

11 Security RPs 14.6 15.4 14.1 11

12 Commercial paper 111.0 126.5 95.1 12

13 Treasury securities 50.7 44.4 50.7 13

14 Agency- and GSE-backed securities 18.8 16.4 18.7 14

15 Municipal securities 32.1 40.4 40.1 15

16 Mortgages 68.3 69.9 71.6 16

17 Consumer credit 58.8 56.8 55.2 17

18 Trade receivables 2109.0 2215.3 2321.1 18

19 Mutual fund shares (1) 156.3 206.8 250.1 19

20 Miscellaneous assets 8159.7 8440.9 8784.7 20

21 Liabilities 11145.3 11133.4 11346.4 21

22 Credit market instruments 5273.3 5695.7 6329.5 22

23 Commercial paper 93.8 117.1 127.6 23

24 Municipal securities (3) 176.7 181.7 189.4 24

25 Corporate bonds (4) 2998.1 3211.5 3525.6 25

26 Bank loans n.e.c. 514.5 569.7 675.4 26

27 Other loans and advances 722.9 741.7 839.8 27

28 Mortgages 767.4 874.0 971.6 28

29 Trade payables 1699.4 1775.4 1848.1 29

30 Taxes payable 93.1 92.1 93.4 30

31 Miscellaneous liabilities 4079.6 3570.2 3075.4 31

32 Net worth (market value) 12560.3 14266.4 16081.6 32

 Memo:

 Replacement-cost value of structures:

33 Residential 139.1 146.0 149.5 33

34 Nonresidential 5565.8 6030.0 6165.7 34

 Market value of equities outstanding

35 (includes corporate farm equities) 10872.8 11519.4 12068.0 35

36 Debt/net worth (percent) (5) 42.0 39.9 39.4 36

37 Debt/equities (percent) (6) 48.5 49.4 52.4 37

38 Equities/net worth (percent) (7) 86.6 80.7 75.0 38

 With tangible assets stated at historical cost:

39 Assets (8) 19763.9 20633.8 21675.2 39

40 Tangible assets 7854.9 8287.0 8773.6 40

41 Real estate 3120.3 3309.1 3558.5 41

42 Equipment and software 3215.3 3354.8 3488.1 42

43 Inventories 1519.3 1623.1 1726.9 43

44 Net worth (historical cost) (9) 8618.6 9500.4 10328.8 44

 Memo:

 Historical-cost value of structures:

45 Residential 55.8 59.2 61.9 45

46 Nonresidential 2866.9 3054.1 3290.2 46

47 Debt/net worth (percent) (10) 61.2 60.0 61.3 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, 2005-2007, March 6, 2008

B.103 Balance Sheet of Nonfarm Noncorporate Business

Billions of dollars

2005 2006 2007

 

 1 Assets 9223.9 10141.6 10988.8 1

 2 Tangible assets 6791.3 7406.7 7909.8 2

 3 Real estate (1) 6254.3 6831.8 7300.8 3

 4 Residential 4801.8 5199.0 5449.7 4

 5 Nonresidential 1452.6 1632.8 1851.1 5

 6 Equipment and software (2) 453.1 486.5 514.9 6

 7 Residential (3) 45.2 48.5 49.8 7

 8 Nonresidential 407.8 437.9 465.1 8

 9 Inventories (2) 83.9 88.4 94.1 9

10 Financial assets 2432.6 2734.9 3078.9 10

11 Checkable deposits and currency 323.1 344.1 363.1 11

12 Time and savings deposits 351.6 396.3 454.5 12

13 Money market fund shares 73.9 83.3 98.0 13

14 Treasury securities 56.2 63.3 69.3 14

15 Municipal securities 4.4 5.0 5.7 15

16 Mortgages 36.2 40.8 46.2 16

17 Consumer credit 0.0 0.0 0.0 17

18 Trade receivables 430.9 485.7 551.0 18

19 Miscellaneous assets 1156.2 1316.3 1491.1 19

20 Insurance receivables 65.3 66.9 69.0 20

21 Equity investment in GSEs (4) 1.8 1.9 2.1 21

22 Other 1089.1 1247.5 1420.0 22

23 Liabilities 4051.5 4473.5 4958.4 23

24 Credit market instruments 2775.0 3121.8 3525.0 24

25 Bank loans n.e.c. 624.1 691.0 818.4 25

26 Other loans and advances 135.4 148.7 159.2 26

27 Mortgages 2015.5 2282.1 2547.4 27

28 Trade payables 329.4 359.5 395.3 28

29 Taxes payable 86.7 92.3 98.9 29

30 Miscellaneous liabilities 860.4 899.9 939.1 30

31 Net worth (5) 5172.3 5668.0 6030.4 31

 Memo:

 Replacement-cost value of structures:

32 Residential 2887.0 3001.8 3071.4 32

33 Nonresidential 1198.5 1281.4 1290.2 33

34 Debt/net worth (percent) (6) 53.7 55.1 58.5 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 28.

(6) Line 24 divided by line 31.
FFA, 2005-2007, March 6, 2008 97

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

2005 2006 2007

 

 1 Change in net worth (1) 3687.2 4020.2 1917.8 1

 2 Net investment -104.7 22.1 331.0 2

 3 Net physical investment 666.1 672.0 565.4 3

 4 Capital expenditures 1702.7 1708.3 1620.9 4

 5 - Consumption of fixed capital 1036.6 1036.3 1055.5 5

 6 Net financial investment -770.8 -649.9 -234.4 6

 7 Net acquisition of financial assets 386.3 613.4 685.7 7

 8 - Net increase in liabilities 1157.1 1263.3 920.1 8

 Holding gains on assets

 9 at market value (2) 3690.9 3991.3 1688.6 9

10 Real estate 1785.8 987.4 228.5 10

11 Corporate equities 404.2 1064.4 256.9 11

12 Mutual fund shares 193.8 459.7 238.8 12

13 Equity in noncorporate business 802.8 729.9 619.2 13

 Life insurance and

14 pension fund reserves 504.2 750.0 345.1 14

 Holding gains on assets

15 at current cost (2) -39.3 -41.8 -50.3 15

16 Consumer durable goods -39.3 -43.1 -50.8 16

17 Equipment and software 0.0 1.4 0.6 17

18 Other volume changes (3) 140.3 48.5 -51.5 18

 Memo:

19 Net worth outstanding (4) 51780.0 55800.2 57718.0 19

20 Disposable personal income 9092.0 9629.1 10175.2 20

(1) Sum of net investment (line 2), holding gains (lines 9 and 15), and other volume changes (line 18).

(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 41.
98 FFA, 2005-2007, March 6, 2008

R.102 Change in Net Worth of Nonfarm Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007

 

 1 Change in net worth (1) 1250.1 1706.1 1815.1 1

 2 Net investment -142.8 -131.4 -431.0 2

 3 Net physical investment 224.0 299.4 289.3 3

 4 Capital expenditures 915.0 1032.9 1036.2 4

 5 - Consumption of fixed capital 737.4 767.6 795.4 5

 6 - Inventory valuation adjustment -36.2 -36.3 -37.6 6

 7 - Nonproduced nonfinancial assets -10.2 2.2 -11.0 7

 8 Net financial investment -3.4 183.2 116.3 8

 9 Net acquisition of financial assets 957.8 374.9 533.0 9

10 - Net increase in liabilities 961.2 191.7 416.7 10

11 Net corporate equity issues -363.4 -614.1 -836.6 11

 Holding gains on assets

12 at market value (2) 764.6 895.3 1053.8 12

13 Real estate 755.5 877.7 1043.3 13

14 Mutual fund shares 9.1 17.6 10.5 14

 Holding gains on assets less

15 liabilities at current cost (2) 121.6 111.6 136.2 15

16 Equipment and software 46.4 82.7 68.3 16

17 Inventories (3) 42.2 4.6 67.8 17

18 Direct investment abroad 47.2 65.1 -0.0 18

19 - Foreign direct investment in U.S. 14.1 40.8 -0.1 19

20 Other volume changes (4) 506.7 830.6 1056.1 20

 Memo:

21 Net worth outstanding (5) 12560.3 14266.4 16081.6 21

(1) Sum of net investment (line 2), holding gains (lines 12 and 15), and other volume changes (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, 2005-2007, March 6, 2008 99

R.103 Change in Net Worth of Nonfarm Noncorporate Business

Billions of dollars

2005 2006 2007

 

 1 Change in net worth (1) 502.6 495.7 362.4 1

 2 Net investment (2) -137.1 -46.8 -59.6 2

 3 Net physical investment 14.7 72.8 81.1 3

 4 Capital expenditures 226.2 269.7 288.6 4

 5 - Consumption of fixed capital 211.5 197.0 207.5 5

 6 Net acquisition of financial assets 383.2 302.3 344.1 6

 - Net increase in liabilities from:

 7 Credit market instruments 331.6 346.8 403.2 7

 8 Trade payables 52.0 30.1 35.8 8

 9 Taxes payable 8.7 5.6 6.6 9

10 Miscellaneous liabilities 142.8 39.3 39.1 10

11 Holding gains on real estate (3) 653.2 538.7 390.3 11

12 Residential 486.7 346.1 163.7 12

13 Nonresidential 166.5 192.5 226.6 13

14 Holding gains on assets at current cost (3) -9.1 7.8 5.9 14

15 Residential equipment and software 1.5 1.3 -0.2 15

16 Nonresidential equipment and software -14.7 4.4 0.5 16

17 Inventories 4.1 2.2 5.5 17

18 Other volume changes (4) -4.4 -4.1 25.8 18

 Memo:

19 Net worth outstanding (5) 5172.3 5668.0 6030.4 19

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (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, 2005-2007, March 6, 2008

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

Billions of dollars

2005 2006 2007

 

 1 Current receipts, NIPA basis 3589.1 3934.8 4192.3 1

 2 Personal current taxes 1209.1 1354.3 1483.6 2

 3 Taxes on production and imports 921.6 967.3 1008.9 3

 4 Taxes on corporate income 376.5 435.5 456.0 4

 5 Taxes from the rest of the world 11.5 12.6 12.4 5

 6 Contributions for govt. social insurance 874.8 927.6 979.0 6

 7 Income receipts on assets 105.6 111.9 114.6 7

 8 Current transfer receipts 105.2 139.5 152.3 8

 9 Current surplus of government enterprises -15.1 -13.9 -14.5 9

10 Current expenditures, NIPA basis 3892.2 4130.3 4421.0 10

11 Consumption expenditures 1965.7 2089.3 2222.2 11

12 Government social benefits 1486.2 1588.7 1707.3 12

13 Other current transfer payments 35.5 29.6 34.6 13

14 Interest payments 346.2 372.9 409.8 14

15 Subsidies 58.5 49.7 47.1 15

16 - Wage accruals less disbursements 0.0 0.0 -0.0 16

17 Net government saving, NIPA basis -303.1 -195.4 -228.7 17

18 + Consumption of fixed capital 252.4 267.7 287.9 18

19 - Insurance and pension fund reserves (2) 0.7 0.1 0.1 19

20 + Net capital transfers (3) 12.1 14.6 1.5 20

21 = Gross saving and net capital transfers -39.3 86.7 60.6 21

22 Gross investment -6.1 93.7 99.8 22

23 Fixed investment 397.8 433.8 468.4 23

24 Nonproduced nonfinancial assets 10.1 -2.1 10.6 24

25 Net financial investment -414.0 -338.0 -379.2 25

26 Net acquisition of financial assets 119.9 73.0 147.0 26

27 Gold, SDRs, and official foreign exchange -14.4 -2.7 -0.3 27

28 Checkable deposits and currency 22.5 3.3 22.2 28

29 Time and savings deposits 11.8 26.5 37.1 29

30 Money market fund shares 4.1 5.1 3.7 30

31 Security RPs 8.1 7.1 0.5 31

32 Credit market instruments 46.9 53.4 30.8 32

33 Open market paper 10.6 13.2 -7.8 33

34 Agency- and GSE-backed securities (4) 23.1 20.6 12.4 34

35 Municipal securities 0.3 0.4 0.3 35

36 Corporate and foreign bonds 7.3 8.1 6.8 36

37 Mortgages 11.1 11.5 11.2 37

38 Consumer credit 3.7 1.9 6.5 38

39 Other loans and advances (5) -9.3 -2.2 1.4 39

40 Corporate equities 1.2 -6.4 0.8 40

41 Mutual fund shares 0.4 -2.0 0.2 41

42 Trade receivables 17.4 10.7 7.7 42

43 Taxes receivable 46.3 18.0 55.3 43

44 Miscellaneous assets -24.4 -40.1 -11.0 44

45 Net increase in liabilities 533.9 410.9 526.1 45

46 SDR certificates 0.0 0.0 0.0 46

47 Treasury currency 0.8 0.6 0.7 47

48 Credit market instruments 403.9 299.3 393.5 48

49 Savings bonds 0.7 -2.7 -6.0 49

50 Other Treasury securities (6) 232.6 151.9 216.3 50

51 Budget agency securities -0.4 -0.3 -0.4 51

52 Municipal securities 171.1 150.5 183.5 52

53 Multifamily residential mortgages 0.0 0.0 0.0 53

54 Trade payables 65.3 47.5 49.2 54

55 Insurance reserves 1.1 1.5 1.2 55

56 Miscellaneous liabilities (7) 62.8 62.1 81.7 56

57 Discrepancy -33.2 -7.0 -39.2 57

 Memo:

58 Net govt. saving less fixed investment (8) -700.8 -629.2 -697.1 58

59 Adjustment between NIPA and FOF (9) 285.9 290.1 316.7 59

60 Items to be financed (10) -414.9 -339.1 -380.4 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 the 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, 2005-2007, March 6, 2008 101

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

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 2339.7 2475.7 2625.4 1

 2 Gold, SDRs, and official foreign exchange 35.3 34.5 36.3 2

 3 Checkable deposits and currency 89.3 91.5 112.1 3

 4 Time and savings deposits 184.8 211.2 248.3 4

 5 Money market fund shares 70.7 75.9 79.5 5

 6 Security RPs 139.3 146.3 146.8 6

 7 Credit market instruments 1122.5 1176.0 1206.8 7

 8 Open market paper 182.4 195.5 187.8 8

 9 Agency- and GSE-backed securities (1) 396.3 416.9 429.3 9

10 Municipal securities 4.9 5.3 5.6 10

11 Corporate and foreign bonds 125.6 133.6 140.4 11

12 Mortgages 227.7 239.2 250.5 12

13 Consumer credit 89.8 91.7 98.2 13

14 Other loans and advances (2) 95.9 93.7 95.2 14

15 Corporate equities 95.5 102.4 107.4 15

16 Mutual fund shares 29.2 31.3 32.8 16

17 Trade receivables 213.6 224.3 232.1 17

18 Taxes receivable 200.3 264.0 314.7 18

19 Miscellaneous assets 159.0 118.3 108.6 19

20 Total liabilities 7782.7 8187.8 8714.4 20

21 SDR certificates 2.2 2.2 2.2 21

22 Treasury currency 27.5 28.1 28.7 22

23 Credit market instruments 6082.8 6382.1 6775.5 23

24 Savings bonds 205.1 202.4 196.4 24

25 Other Treasury securities (3) 4009.8 4161.6 4377.9 25

26 Budget agency securities 23.8 23.5 23.1 26

27 Municipal securities 1844.1 1994.6 2178.1 27

28 Multifamily residential mortgages 0.0 0.0 0.0 28

29 Trade payables 681.4 728.9 778.1 29

30 Insurance reserves 42.7 44.2 45.4 30

31 Miscellaneous liabilities (4) 946.1 1002.4 1084.4 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 the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.
102 FFA, 2005-2007, March 6, 2008

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

2005 2006 2007

 

 1 Net acquisition of financial assets -32.4 -42.3 -80.8 1

 2 Checkable deposits and currency 0.1 0.2 0.2 2

 3 Time and savings deposits 5.6 0.4 1.6 3

 4 Money market fund shares 0.0 0.0 0.0 4

 5 Security RPs 0.7 0.3 0.2 5

 6 Credit market instruments 33.8 -10.7 11.7 6

 7 Open market paper 0.6 0.3 -2.3 7

 8 Treasury securities 1.4 1.8 -2.2 8

 9 Agency- and GSE-backed securities 16.1 -14.4 6.9 9

10 Corporate and foreign bonds 15.9 1.6 10.1 10

11 Mortgages -0.2 -0.1 -0.8 11

12 Corporate equities -43.6 -7.3 -55.2 12

13 Mutual fund shares -8.7 -25.2 -27.2 13

14 Miscellaneous assets -20.4 0.1 -12.1 14

15 Unallocated insurance contracts (1) -17.0 0.7 -7.2 15

16 Contributions receivable -1.9 -0.2 -0.3 16

17 Other -1.5 -0.5 -4.6 17

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 51.8 49.5 13.2 1

 2 Checkable deposits and currency 0.2 0.2 0.2 2

 3 Time and savings deposits 0.6 0.7 1.3 3

 4 Money market fund shares 1.9 3.4 4.0 4

 5 Security RPs 1.0 2.9 9.3 5

 6 Credit market instruments 10.6 24.7 23.0 6

 7 Open market paper 1.5 2.7 3.5 7

 8 Treasury securities 1.6 1.8 5.0 8

 9 Agency- and GSE-backed securities 2.5 13.1 7.4 9

10 Corporate and foreign bonds 5.0 7.3 6.1 10

11 Mortgages 0.0 -0.2 1.0 11

12 Corporate equities 25.1 -2.5 -44.9 12

13 Mutual fund shares 18.9 36.6 31.3 13

14 Miscellaneous assets -6.4 -16.5 -11.0 14

15 Unallocated insurance contracts (2) -1.6 -5.4 -19.3 15

16 Contributions receivable 0.0 -1.8 7.3 16

17 Other -4.9 -9.3 0.9 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.

F.225.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: 269.8 304.1 NA 1

 2 Commercial banking 7.3 26.7 NA 2

 3 Saving institutions 0.1 3.9 NA 3

 4 Credit unions 1.6 3.9 NA 4

 5 Life insurance companies 20.8 -0.7 NA 5

 6 Money market mutual funds 9.0 29.0 NA 6

 7 Mutual funds 73.1 92.2 NA 7

 8 Other self-directed accounts 157.9 149.0 NA 8

(1) Assets of the household sector (F.100). IRA assets are not included in pension fund reserves (table F.225), except for those at life insurance companies. Figures for depositories (lines 2 through 4)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund sector (line 6).
FFA, 2005-2007, March 6, 2008 103

L.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

2005 2006 2007

 

 1 Total financial assets 2299.9 2388.1 2352.7 1

 2 Checkable deposits and currency 5.3 5.5 5.8 2

 3 Time and savings deposits 42.0 42.3 43.9 3

 4 Money market fund shares 0.0 0.0 0.0 4

 5 Security RPs 5.1 5.4 5.6 5

 6 Credit market instruments 487.0 476.3 488.0 6

 7 Open market paper 5.1 5.5 3.1 7

 8 Treasury securities 44.9 46.7 44.6 8

 9 Agency- and GSE-backed securities 202.3 187.9 194.8 9

10 Corporate and foreign bonds 230.6 232.2 242.2 10

11 Mortgages 4.2 4.1 3.3 11

12 Corporate equities 1392.8 1490.7 1470.9 12

13 Mutual fund shares 253.4 246.4 226.2 13

14 Miscellaneous assets 114.3 121.4 112.3 14

15 Unallocated insurance contracts (1) 88.8 96.5 92.4 15

16 Contributions receivable 1.8 1.6 1.3 16

17 Other 23.7 23.2 18.6 17

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 3017.8 3313.4 3489.1 1

 2 Checkable deposits and currency 5.5 5.7 5.9 2

 3 Time and savings deposits 20.0 20.8 22.0 3

 4 Money market fund shares 86.7 90.1 94.1 4

 5 Security RPs 23.1 26.0 35.3 5

 6 Credit market instruments 225.6 250.3 273.3 6

 7 Open market paper 23.4 26.1 29.6 7

 8 Treasury securities 47.8 49.6 54.6 8

 9 Agency- and GSE-backed securities 53.9 67.0 74.5 9

10 Corporate and foreign bonds 94.9 102.2 108.3 10

11 Mortgages 5.6 5.4 6.4 11

12 Corporate equities 1144.2 1264.6 1296.0 12

13 Mutual fund shares 1145.6 1282.2 1384.9 13

14 Miscellaneous assets 367.0 373.8 377.5 14

15 Unallocated insurance contracts (2) 249.6 267.4 262.9 15

16 Contributions receivable 43.0 41.2 48.5 16

17 Other 74.5 65.1 66.1 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: 3632.0 4232.0 NA 1

 2 Commercial banking 175.3 202.0 NA 2

 3 Saving institutions 53.8 57.6 NA 3

 4 Credit unions 49.3 53.2 NA 4

 5 Life insurance companies 381.0 424.0 NA 5

 6 Money market mutual funds 158.0 187.0 NA 6

 7 Mutual funds 1435.0 1696.0 NA 7

 8 Other self-directed accounts 1379.6 1612.2 NA 8

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension fund reserves (table L.225), except for those at life insurance companies. Figures for depositories

 (lines 2 through 4) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund

 sector (line 6).
104 FFA, 2005-2007, March 6, 2008

B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

Billions of dollars

2005 2006 2007

 

 1 Assets 63971.1 69254.7 72092.5 1

 2 Tangible assets 24427.5 26036.7 26759.5 2

 3 Financial assets 39543.7 43218.0 45333.0 3

 4 Deposits 6087.9 6732.7 7388.5 4

 5 Credit market instruments 3449.8 3666.9 3977.0 5

 6 Equity shares at market value 15268.4 16916.7 16807.8 6

 7 Directly held 5874.9 6178.3 5446.6 7

 8 Indirectly held 9393.5 10738.5 11361.2 8

 9 Life insurance companies 1140.1 1334.7 1468.5 9

10 Private pension funds 3602.9 3933.0 4009.0 10

11 Defined benefit plans 1567.7 1664.6 1628.8 11

12 Defined contribution plans 2035.2 2268.4 2380.2 12

13 State and local govt. retirement funds 1887.3 2130.6 2187.3 13

14 Federal government retirement funds 112.6 138.1 149.2 14

15 Mutual funds 2650.7 3202.0 3547.2 15

16 Other 14737.6 15901.6 17159.7 16

17 Liabilities 12191.1 13454.5 14374.5 17

18 Net worth 51780.0 55800.2 57718.0 18

 Memo:

19 Equity shares excluding defined benefit plans 11793.9 13100.1 12970.3 19

 (line 6 minus lines 11, 13 and part of line 14)

 Equity shares (line 6) as a percent of

20 Total assets (line 1) 23.9 24.4 23.3 20

21 Financial assets (line 3) 38.6 39.1 37.1 21

(1) Estimates of equity shares (lines 7 through 15 could differ from other sources owing to alternative definitions of ownership of equity by households.

 Prior to 1985, all pension assets are assumed to have been in defined benefit plans.