For use at 12:00 p.m., eastern time 

June 9, 2011 

FEDERAL RESERVE statistical release

Z.1 

 

Flow of Funds Accounts 

of the United States

Flows and Outstandings

First Quarter 2011

Board of Governors of the Federal Reserve System, Washington DC 20551
CFlow of Funds Summary Statistics 

First Quarter 2011 

Debt of the domestic nonfinancial sectors expanded 

at a seasonally adjusted annual rate of 21⁄4 percent in 

the first quarter of 2011, about two percentage points 

less than the pace registered in 2010. 

 

Household debt declined at an annual rate of 2 

percent in the first quarter; it has contracted in each 

quarter since the first quarter of 2008. Home 

mortgage debt fell at an annual rate of 31⁄2 percent in 

the first quarter, 3⁄4 percentage point more than the 

decline posted last year. Consumer credit rose 21⁄2 

percent at an annual rate in the first quarter, the 

second consecutive quarterly increase. 

Nonfinancial business debt rose 4 percent in the first 

quarter, following an increase of nearly 2 percent in 

the fourth quarter of last year. The changes in 

corporate bonds outstanding and in business loans 

more than accounted for the increase in nonfinancial 

business debt; commercial paper outstanding posted a 

small increase, but commercial mortgage debt 

continued to decline, albeit at a more moderate pace 

than during the previous year and a half. 

State and local government debt fell about 3 percent 

at an annual rate in the first quarter, partially 

retracing an 8 percent increase in the fourth quarter. 

Federal government debt increased at an annual rate 

of 73⁄4 percent in the first quarter. 

At the end of the first quarter of 2011, the level of 

domestic nonfinancial debt outstanding was $36.3 

trillion; household debt was $13.3 trillion, 

nonfinancial business debt was just under $11 

trillion, and total government debt was $12 trillion. 

Household net worth—the difference between the 

value of assets and liabilities—was $58.1 trillion at 

the end of the first quarter, about $950 billion more 

than at the end of the previous quarter. 

Growth of Domestic Nonfinancial DebtP

1

P

Percentage changes; quarterly data are seasonally adjusted annual rates 

 Total Households Business State and 

local govts. Federal 

2001 6.3 9.6 5.7 8.8 -0.2 

2002 7.4 10.8 2.8 11.1 7.6 

2003 8.1 11.9 2.2 8.3 10.9 

2004 8.8 11.1 6.2 7.3 9.0 

2005 9.5 11.1 8.6 10.2 7.0 

 

2006 9.0 10.0 10.6 8.3 3.9 

2007 8.6 6.7 13.1 9.5 4.9 

2008 6.0 0.2 5.5 2.3 24.2 

2009 3.0 -1.7 -2.7 4.8 22.7 

2010 4.2 -1.9 0.3 4.4 20.2 

 

2010:Q1 3.7 -3.0 -0.4 5.7 20.5 

 Q2 4.4 -2.2 -1.3 -1.4 24.4 

 Q3 3.9 -2.0 1.1 5.4 16.0 

 Q4 4.6 -0.6 1.9 7.9 14.6 

 

2011:Q1 2.3 -2.0 4.0 -2.9 7.8 

1. Changes shown are on an end-of-period basis. 

 
Table of Contents 

Title Table Page 

Flow of Funds Accounts, First Quarter 2011 1 

Availability of Data for Latest Quarter 4 

Credit Market Debt Growth by Sector D.1 7 

Credit Market Borrowing by Sector D.2 8 

Credit Market Debt Outstanding by Sector D.3 9 

Flows Levels

Title Table Page Table Page 

Summaries 

Total Credit Market Borrowing and Lending F.1 10 L.1 60 

Credit Market Borrowing by Nonfinancial Sectors F.2 11 L.2 61 

Credit Market Borrowing by Financial Sectors F.3 11 L.3 61 

Credit Market Borrowing, All Sectors, by Instrument F.4 12 L.4 62 

Total Liabilities and Its Relation to Total Financial Assets F.5 12 L.5 62 

Distribution of Gross Domestic Product F.6 13 

Distribution of National Income F.7 14 

Saving and Investment F.8 15 

Net Capital Transfers F.9 16 

Derivation of Measures of Personal Saving F.10 17 L.10 63 

 
Flows Levels

Title Table Page Table Page

Sectors 

Households and Nonprofit Organizations F.100 18 L.100 64 

Nonfinancial Business F.101 19 L.101 65 

Nonfarm Nonfinancial Corporate Business F.102 20 L.102 66 

Nonfarm Noncorporate Business F.103 21 L.103 67 

Farm Business F.104 21 L.104 67 

State and Local Governments F.105 22 L.105 68 

Federal Government F.106 23 L.106 68 

Rest of the World F.107 24 L.107 69 

Monetary Authority F.108 25 L.108 70 

Commercial Banking F.109 26 L.109 71 

U.S.-Chartered Commercial Banks F.110 27 L.110 72 

Foreign Banking Offices in U.S. F.111 28 L.111 73 

Bank Holding Companies F.112 29 L.112 74 

Banks in U.S.-Affiliated Areas F.113 29 L.113 74 

Savings Institutions F.114 30 L.114 75 

Credit Unions F.115 31 L.115 76 

Property-Casualty Insurance Companies F.116 31 L.116 76 

Life Insurance Companies F.117 32 L.117 77 

Private Pension Funds F.118 32 L.118 77 

State and Local Government Employee Retirement Funds F.119 33 L.119 78 

Federal Government Retirement Funds F.120 33 L.120 78 

Money Market Mutual Funds F.121 34 L.121 79 

Mutual Funds F.122 34 L.122 79 
Flows Levels

Title Table Page Table Page

Closed-End and Exchange-Traded Funds F.123 34 L.123 79 

Government-Sponsored Enterprises F.124 35 L.124 80 

Agency- and GSE-Backed Mortgage Pools F.125 35 L.125 80 

Issuers of Asset-Backed Securities F.126 36 L.126 81 

Finance Companies F.127 36 L.127 81 

Real Estate Investment Trusts F.128 37 L.128 82 

Security Brokers and Dealers F.129 38 L.129 83 

Funding Corporations F.130 38 L.130 83 

 

Instruments 

U.S. Official Reserve Assets F.200 39 L.200 84 

Special Drawing Rights (SDRs) Certificates and Treasury Currency F.201 39 L.201 84 

U.S. Deposits in Foreign Countries F.202 39 L.202 84 

Net Interbank Transactions F.203 40 L.203 85 

Checkable Deposits and Currency F.204 41 L.204 86 

Time and Savings Deposits F.205 42 L.205 87 

Money Market Mutual Fund Shares F.206 42 L.206 87 

Federal Funds and Security Repurchase Agreements F.207 43 L.207 88 

Open Market Paper F.208 43 L.208 88 

Treasury Securities F.209 44 L.209 89 
 Flows Levels

Title Table Page Table Page

Agency- and GSE-Backed Securities F.210 45 L.210 90 

Municipal Securities and Loans F.211 46 L.211 91 

Corporate and Foreign Bonds F.212 46 L.212 91 

Corporate Equities F.213 47 L.213 92 

Mutual Fund Shares F.214 47 L.214 92 

Bank Loans Not Elsewhere Classified F.215 48 L.215 93 

Other Loans and Advances F.216 49 L.216 94 

Total Mortgages F.217 50 L.217 95 

Home Mortgages F.218 51 L.218 96 

Multifamily Residential Mortgages F.219 51 L.219 96 

Commercial Mortgages F.220 52 L.220 97 

Farm Mortgages F.221 52 L.221 97 

Consumer Credit F.222 53 L.222 98 

Trade Credit F.223 53 L.223 98 

Security Credit F.224 53 L.224 98 

Life Insurance and Pension Fund Reserves F.225 54 L.225 99 

Taxes Payable by Businesses F.226 54 L.226 99 

Proprietors' Equity in Noncorporate Business F.227 54 L.227 99 

Total Miscellaneous Financial Claims F.228 55 L.228 100 

 Identified Miscellaneous Financial Claims - Part I F.229 56 L.229 101 

Identified Miscellaneous Financial Claims - Part II F.230 57 L.230 102 

Unidentified Miscellaneous Financial Claims F.231 58 L.231 103 

Sector Discrepancies F.11 59 

Instrument Discrepancies F.12 59 
Balance Reconciliation

Sheet

Title Table Page Table Page 

Balance Sheet and Reconciliation Tables

Households and Nonprofit Organizations B.100 104 R.100 107 

Nonfinancial Corporate Business B.102 105 R.102 108 

Nonfarm Noncorporate Business B.103 106 R.103 109 

Flows Levels

Title Table Page Table Page

Supplementary Tables 

Nonprofit Organizations F.100.a 110 L.100.a 111 

Consolidated Statement for Federal, State, and Local Governments F.106.c 112 L.106.c 113 

Private Pension Funds: Defined Benefit Plans F.118.b 114 L.118.b 115 

Private Pension Funds: Defined Contribution Plans F.118.c 114 L.118.c 115 

Individual Retirement Accounts (IRAs) F.225.i 114 L.225.i 115 

Flow of Funds Matrix for 2010 116 117 

Balance Sheet of Households and Nonprofit Organizations 

 with Equity Detail B.100.e 118 
Flow of Funds Accounts, First Quarter 2011 

This publication presents the Flow of Funds 

Accounts for 2011:Q1. 

Data revisions and other changes. The statistics in 

the attached tables reflect the use of new or revised 

source data. Most significant revisions appear in 

recent quarters; however, new source information 

resulted in changes to data for earlier periods. 

1. A new interactive, web-based guide to the 

Flow of Funds Accounts was released on March 28, 

2011. The tools and descriptions within this guide 

are designed to help users explore the structure and 

content of the Z.1 and the Integrated Macroeconomic 

Accounts. Importantly, it allows users to search for 

series, browse tables of data, and identify links 

among series within these accounts. It also provides 

descriptions of each of the published tables and 

information on the source data underlying each 

series. Although this guide is separate from the 

release of the quarterly Z.1 data, it will also be 

updated quarterly and will be consistent with the 

most recently published data. The hardcopy Guide to 

the Flow of Funds Accounts published in 2000 is no 

longer available for purchase. This new guide is 

located at: 

http://www.federalreserve.gov/apps/fof/

2. Assets of the nonfarm nonfinancial corporate 

business sector (tables F.102, L.102, B.102, and 

R.102) have been revised from 2009:Q1 forward, to 

reflect advance data from the Internal Revenue 

Service (IRS) Statistics of Income (SOI) for 2009. 

3. The U.S.-chartered commercial banks sector 

(tables F.110 and L.110) and the savings institutions 

sector (tables F.114 and L.114) have been modified 

to show additional detail for agency- and GSEbacked securities and corporate and foreign bonds 

beginning in 2009q2. Residential and commercial 

mortgage pass-through securities and CMOs and 

other structured MBS are now shown separately. 

4. Beginning in 2010, in response to new 

accounting rules (FAS 166 and 167), Freddie Mac 

and Fannie Mae moved most of the securitized 

mortgages they had held in special purpose vehicles 

onto their consolidated balance sheets. In response to 

this shift, the government-sponsored enterprises’ 

(GSE) sector table (F.124 and L.124) has been 

modified to show detail for home and multifamily 

mortgages held in consolidated trusts and other 

mortgages. 

5. In the nonfarm nonfinancial corporate business 

sector (tables F.102 and L.102) syndicated loans from 

domestic entities outside the banking and finance 

company sectors have been revised from 2010:Q1 

forward due to newly available 2010 benchmark 

statistics from the Shared National Credit Program 

(SNC). These loans are included in the liability 

category other loans and advances. Revised holdings 

of the lenders are shown on the other loans and 

advances tables (F.216 and L.216). 

 

6. The market value of nonresidential and the 

apartment component of residential real estate owned 

by the households and nonprofit organizations, the 

nonfinancial corporate business, and the nonfarm 

nonfinancial noncorporate business sectors (tables 

B.100, B.102, and B.103) have been revised from 

2004:Q4 forward due to revisions in the real estate 

price indices from the National Council of Real 

Estate Investment Fiduciaries (NCREIF). 

Explanatory notes for tables D.1, D.2, and D.3. 

Domestic debt comprises credit market funds 

borrowed by U.S. entities from both domestic and 

foreign sources, while foreign debt represents 

amounts borrowed by foreign financial and 

nonfinancial entities in U.S. markets only. Financial 

sectors consist of government-sponsored enterprises, 

agency- and GSE-backed mortgage pools, the 

monetary authority, and private financial institutions. 

Credit market debt consists of debt securities, 

mortgages, bank loans, commercial paper, consumer 

credit, U.S. government loans, and other loans and 

advances; it excludes trade debt, loans for the 

purpose of carrying securities, and funds raised from 

equity sources. This definition is consistent with the 

presentation of credit market borrowing and lending 

on tables F.1 through F.4. Net lending (+) or net 

borrowing (-) on the individual sector tables and the 

matrix is defined as net acquisition of financial assets 

less net increase in liabilities. 

Growth rates in table D.1 are calculated by dividing 

seasonally adjusted flows from table D.2 by 

seasonally adjusted levels at the end of the previous 

period from table D.3. Seasonally adjusted levels in 

flow of funds statistics are derived by carrying 

forward year-end levels by seasonally adjusted flows. 

Growth rates calculated from changes in unadjusted 

1 
levels printed in table L.2 can differ from those in 

table D.1. 

Relation of Flows to Outstandings. Estimates of 

financial assets and liabilities outstanding are linked 

to data on flows. However, figures on outstandings 

contain discontinuities or breaks in series that could 

affect analysis of particular relationships over time. 

Specifically, outstandings in the Flow of Funds 

Accounts are related to flows in the following way: 

Outstanding B

t

B = Outstanding B

t-1B+ Flow Bt

B+ DiscontinuityB

t

B 

where “t” is the time period. 

Discontinuities result from changes in valuation, 

breaks in source data, and changes in definitions. For 

most series, the value of the discontinuity is zero for 

nearly all time periods. However, in a few instances, 

the discontinuity is nonzero for almost all time 

periods, or is quite large in a particular quarter, such 

as a period when there is a sharp increase or decrease 

in equity prices or a major break in source data. 

The discontinuities in a series can distort estimated 

rates of growth in assets and liabilities between 

periods. In order to minimize these distortions, 

percentage changes in assets and liabilities in flow of 

funds releases should be calculated as: 

Percentage change B

t

B = (Flow B

t

B / Outstanding B

t-1B) * 100 

Preliminary Estimates. Figures shown for the most 

recent quarter in these tables are based on 

preliminary and incomplete information. A summary 

list of the principal sources of information available 

when the latest quarter's data were compiled is 

provided in a table following this introduction. The 

distinction between “available” data and “missing” 

data is not between final and preliminary versions of 

data, but rather between those source estimates that 

are fully ready when the latest quarterly publication 

is compiled and those that are not yet completed. 

However, the items that are shown as available are, in 

general, also preliminary in the sense that they are 

subject to revision by source agencies. 

Margins of Uncertainty. Flow of funds statistics are 

subject to uncertainties resulting from measurement 

errors in source data, incompatibilities among data 

from different sources, potential revisions in both 

financial and nonfinancial series, and incomplete data 

in parts of the accounts. The size of these 

uncertainties cannot be quantified in precise 

statistical terms, but allowance for them is explicitly 

made throughout the accounts by the inclusion of 

“discrepancies” for various sectors and instrument 

types. A discrepancy for a sector is the difference 

between its measured sources of funds and its 

measured uses of funds. For an instrument category, 

a discrepancy is the difference between measured 

funds borrowed through the financial instrument and 

measured funds lent through that instrument. The size 

of such discrepancies relative to the main asset or 

liability components is one indication of the quality 

of source data, especially on an annual basis. For 

quarterly data, differences in seasonal adjustment 

procedures for financial and nonfinancial components 

of the accounts sometimes result in discrepancies that 

cancel in annual data. 

Availability of Data. Flow of funds statistics are 

updated about ten weeks following the end of a 

quarter. This publication — the Z.1 release — is 

available from the Board's Publications Services. 

Flow of funds data are also available electronically 

through the Internet at the following location: 

www.federalreserve.gov/releases/Z1

This Internet site also provides coded tables and 

historical annual tables beginning in 1945 that 

correspond to the tables published in this release. 

There are also compressed ASCII files of quarterly 

data for seasonally adjusted flows, unadjusted flows, 

outstandings, balance sheets, debt (tables D.1, D.2, 

and D.3), and supplementary tables. 

In addition, these data, as well as data for the 

quarterly and annual Integrated Macroeconomic 

Accounts for the United States tables, are available as 

customizable download datasets through the Data 

Download Program (DDP) at the following location: 

www.federalreserve.gov/datadownload/Choose.aspx?rel=Z.1 

A new interactive, web-based guide to the Flow of 

Funds Accounts was released on March 28, 2011. 

The tools and descriptions within this guide are 

designed to help users explore the structure and 

content of the Z.1 and the Integrated Macroeconomic 

Accounts. This new guide is available through the 

Z.1 release page. 

Subscription Information. The Federal Reserve 

Board charges for subscriptions to all statistical 

releases. Inquiries for releases should be directed to: 

Publications Services, Stop 127 

Board of Governors 

of the Federal Reserve System 

20th Street and Constitution Avenue, N.W. 

Washington, DC 20551 

(202) 452-3244 

2 
[THIS PAGE INTENTIONALLY LEFT BLANK] 

3 
Availability of Data for Latest Quarter 

UAvailable at time of publicationU UMajor items missingU 

1. National income and 

product accounts (NIPA) 

Second estimate, seasonally adjusted, 

for 2011:Q1. 

Unadjusted flows since 2006. 

 2. Households and nonprofit 

organizations sector 

 (tables F.100 and L.100) 

Estimates for this sector are largely residuals and are derived from data for 

other sectors. Availability of data depends on schedules for other sectors. 

Data for consumer credit, which are estimated directly, are available through 

2011:Q1. The source for nonprofit organizations data (tables F.100.a and 

L.100.a) is the Internal Revenue Service Statistics of Income. Data for 

nonprofit organizations are available for 1987 through 2000. 

 3. Nonfarm nonfinancial 

corporate business 

 (tables F.102 and L.102) 

Quarterly Financial Report (QFR) of 

the Census Bureau through 2010:Q4; 

Internal Revenue Service Statistics of 

Income (IRS/SOI) data through 2009; 

securities offerings, mortgages, bank 

loans, commercial paper, and other 

loans through 2011:Q1. 

Statistics of Income data since 

2009. QFR data for 2011:Q1. 

 4. Nonfarm noncorporate 

business 

 (tables F.103 and L.103) 

IRS/SOI data through 2008; bank and 

finance company loans and mortgage 

borrowing through 2011:Q1. 

Statistics of Income data since 

2008. 

 5. Farm business 

 (tables F.104 and L.104) 

Mortgages, bank loans, loans from 

government-sponsored enterprises, U.S. 

government loans to farms, and equity 

in government-sponsored enterprises 

through 2010:Q4; preliminary data for 

checkable deposits and currency and 

trade payables through 2009. 

Consumption of fixed capital and 

undistributed profits since 2008. 

6. State and local governments 

 (tables F.105 and L.105) 

Gross offerings and retirements of 

municipal securities, deposits at banks, 

and nonmarketable U.S. government 

security issues through 2011:Q1; total 

financial assets through 2008:Q2 from 

the Census Bureau; breakdown of 

financial assets through 2004:Q2 from 

the comprehensive annual financial 

reports of state and local governments. 

Total financial assets since 

2008:Q2 and selected financial 

asset detail since 2004:Q2. 

7. Federal government 

(tables F.106 and L.106) 

Data from the Monthly Treasury 

Statement of Receipts and Outlays and 

Treasury data for loan programs and the 

Troubled Assets Relief Program 

(TARP) through 2011:Q1. 

None. 

4 
 8. Rest of the world 

 (U.S. international 

transactions) 

 (tables F.107 and L.107) 

Balance of payments data through 

2010:Q4. NIPA estimates; data from 

bank Reports of Condition and from 

Treasury International Capital System 

through 2011:Q1. 

Balance of payments data for 

2011:Q1. 

 9. Monetary authority 

 (tables F.108 and L.108) 

All data through 2011:Q1. None. 

10. Commercial banking 

 (tables F.109 through F.113 

and tables L.109 through 

L.113) 

All data through 2011:Q1 for 

U.S.-chartered commercial banks, 

foreign banking offices in the U.S., bank 

holding companies, and commercial 

banks in U.S.-affiliated areas. 

Data since 2009 for branches of 

domestic commercial banks 

located in U.S.-affiliated areas. 

11. Savings institutions 

 (tables F.114 and L.114) 

All data through 2011:Q1. None. 

12. Credit unions 

 (tables F.115 and L.115) 

All data through 2011:Q1. None. 

13. Property-casualty insurance 

 companies 

 (tables F.116 and L.116) 

All data through 2010:Q4. Preliminary 

data for 2011:Q1. 

Final data for 2011:Q1. 

14. Life insurance companies 

 (tables F.117 and L.117) 

All data through 2010:Q4. Preliminary 

data for 2011:Q1. 

Final data for 2011:Q1. 

 

15. Private pension funds 

 (tables F.118 and L.118) 

Internal Revenue Service/Department of 

Labor/Pension Benefit Guaranty 

Corporation Form 5500 data through 

2007. 

Form 5500 data since 2007. 

16. State and local government 

employee retirement funds 

 (tables F.119 and L.119) 

Detailed data through 2008:Q2 from the 

Census Bureau; sample data through 

2011:Q1 from the Census Bureau. 

Detailed data since 2008:Q2. 

17. Federal government retirement 

funds 

(tables F.120 and L.120) 

Data from the Monthly Treasury 

Statement of Receipts and Outlays, the 

Thrift Savings Plan, and the National 

Railroad Retirement Investment Trust 

through 2011:Q1. 

None. 

18. Money market mutual 

funds 

 (tables F.121 and L.121) 

All data through 2011:Q1. None. 

19. Mutual funds 

 (tables F.122 and L.122) 

All data through 2011:Q1. None. 

20. Closed-end funds 

 (tables F.123 and L.123) 

All data through 2011:Q1. None. 

21. Exchange-traded funds 

 (tables F.123 and L.123) 

All data through 2011:Q1. None. 

22. Government-sponsored 

enterprises 

 (tables F.124 and L.124) 

Data for Fannie Mae, Freddie Mac, 

Farmer Mac, FHLB, FICO, FCS, and 

REFCORP through 2011:Q1. 

None. 

5 
23. Agency- and GSE-backed 

mortgage pools 

 (tables F.125 and L.125) 

Data for Fannie Mae, Freddie Mac, and 

Ginnie Mae through 2011:Q1. 

None.

24. Issuers of asset-backed 

securities (ABSs) 

 (tables F.126 and L.126) 

All data for private mortgage pools, 

consumer credit, business loans, student 

loans, consumer leases, and trade credit 

securitization through 2011:Q1. 

None. 

25. Finance companies 

 (tables F.127 and L.127) 

All data through 2011:Q1. None. 

26. Real estate investment 

trusts (REITs) 

 (tables F.128 and L.128) 

Data from SNL Financial through 

2011:Q1. 

None. 

27. Security brokers and 

dealers 

 (tables F.129 and L.129) 

Data for firms filing FOCUS and FOGS 

reports through 2011:Q1. 

None. 

28. Funding corporations 

 (tables F.130 and L.130) 

Estimates for this sector are largely residuals and are derived from data for 

other sectors. 

6 
Z.1, June 9, 2011 7

D.1 Credit Market Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1976 10.8 11.4 12.6 10.6 8.5 7.5 8.4 15.6 9.0 21.2

1977 12.8 15.6 16.6 15.5 12.5 11.9 8.4 11.0 18.9 11.7

1978 13.8 16.9 17.5 17.5 13.1 11.5 15.4 9.2 22.1 18.7

1979 12.2 15.3 16.4 13.9 13.5 11.1 9.0 5.8 22.1 9.6

1980 9.5 8.4 10.9 1.0 10.1 8.4 6.9 11.8 14.5 14.3

1981 10.4 7.6 7.2 5.5 12.9 13.6 8.0 11.6 18.2 12.2

1982 10.4 5.6 4.8 5.0 9.9 10.2 11.2 19.7 13.6 7.5

1983 12.0 11.1 10.2 12.1 9.1 8.1 11.4 18.9 13.4 8.3

1984 14.8 12.8 11.4 18.4 16.0 16.5 11.4 16.9 17.9 3.7

1985 15.6 16.1 14.6 15.9 11.0 12.8 31.8 16.5 19.4 0.5

1986 11.9 11.4 13.7 9.1 11.4 13.8 10.9 13.6 26.2 4.0

1987 9.1 10.4 13.4 4.8 7.8 9.0 12.0 8.0 18.2 2.5

1988 9.0 9.9 11.8 6.7 9.8 10.9 6.0 8.0 13.2 2.9

1989 7.2 9.3 10.9 6.3 6.1 7.2 5.3 7.0 10.5 3.8

1990 6.5 7.0 8.9 1.9 3.5 5.6 5.0 11.0 8.8 8.3

1991 4.3 5.2 7.0 -1.1 -2.2 -2.1 9.2 11.1 6.0 4.8

1992 4.5 5.3 6.5 1.1 -0.3 0.9 1.5 10.9 8.6 6.9

1993 4.7 6.0 5.5 7.4 0.2 1.2 5.3 8.3 9.6 18.7

1994 4.6 7.6 5.6 15.2 3.9 5.0 -3.9 4.7 13.9 -2.4

1995 5.2 6.8 4.9 14.4 7.4 8.8 -5.5 4.1 11.6 17.7

1996 5.4 6.9 6.2 9.0 6.6 6.8 -2.0 4.0 12.1 15.5

1997 5.6 5.8 6.1 5.5 9.9 10.6 4.9 0.6 12.1 10.6

1998 6.6 7.7 8.1 7.2 11.7 11.0 6.2 -1.4 19.4 5.1

1999 6.4 8.4 9.4 7.8 10.7 9.9 3.3 -1.9 16.2 2.4

2000 5.0 9.1 8.7 11.4 9.3 8.5 1.4 -8.0 11.0 8.4

2001 6.3 9.6 10.6 8.6 5.7 4.5 8.8 -0.2 10.7 -1.4

2002 7.4 10.8 13.3 5.6 2.8 0.7 11.1 7.6 9.7 10.8

2003 8.1 11.9 14.6 5.3 2.2 1.7 8.3 10.9 10.7 4.0

2004 8.8 11.1 13.5 5.6 6.2 4.0 7.3 9.0 8.9 12.4

2005 9.5 11.1 13.3 4.5 8.6 6.2 10.2 7.0 9.3 7.9

2006 9.0 10.0 11.1 4.1 10.6 8.6 8.3 3.9 10.0 22.0

2007 8.6 6.7 6.8 5.8 13.1 12.7 9.5 4.9 12.6 9.0

2008 6.0 0.2 -0.5 1.5 5.5 3.8 2.3 24.2 5.6 -10.6

2009 3.0 -1.7 -1.5 -4.4 -2.7 0.1 4.8 22.7 -10.8 11.3

2010 4.2 -1.9 -2.8 -1.8 0.3 3.3 4.4 20.2 -6.4 5.0

2005 -- Q1 9.1 9.7 11.6 5.1 7.6 5.3 12.0 9.0 8.4 4.6

 Q2 9.1 11.5 13.0 5.0 8.1 5.5 7.5 5.4 9.4 7.7

 Q3 8.9 10.9 13.5 4.2 7.6 4.9 12.2 5.4 5.4 9.7

 Q4 9.7 10.6 12.5 3.4 10.1 8.8 7.8 7.5 12.9 8.5

2006 -- Q1 10.2 11.8 13.6 3.1 10.8 9.0 5.8 6.8 11.2 13.9

 Q2 9.4 11.2 12.6 4.0 10.4 8.4 7.2 4.1 11.2 12.4

 Q3 7.0 8.6 9.7 4.2 7.1 3.7 8.4 2.0 7.1 37.0

 Q4 8.3 7.1 7.0 4.9 12.6 12.5 10.9 2.5 9.0 18.7

2007 -- Q1 8.5 7.3 8.0 5.1 10.8 9.1 11.8 6.0 11.2 12.9

 Q2 8.6 7.1 7.5 5.6 13.6 13.7 10.3 2.2 9.8 18.2

 Q3 8.8 6.3 5.8 6.9 13.6 14.1 7.7 6.4 16.7 1.4

 Q4 7.5 5.3 5.4 5.1 11.9 11.5 7.0 4.5 10.2 3.0

2008 -- Q1 6.3 3.5 2.4 4.9 8.6 8.4 5.1 9.5 6.0 10.4

 Q2 3.7 -0.1 -0.6 3.5 7.0 5.9 1.6 7.4 5.7 -0.0

 Q3 7.8 -0.4 -1.7 -0.0 4.9 3.6 3.7 37.0 6.9 -28.6

 Q4 5.7 -2.1 -2.0 -2.3 1.0 -2.9 -1.1 36.1 3.2 -24.9

2009 -- Q1 4.6 -0.7 -0.2 -3.7 -0.3 2.1 5.6 24.4 -11.2 9.5

 Q2 4.5 -1.8 -1.8 -4.8 -2.3 0.5 4.2 28.9 -13.6 11.1

 Q3 2.1 -2.3 -2.6 -3.9 -4.3 -1.6 5.7 19.0 -10.9 14.4

 Q4 0.9 -1.9 -1.3 -5.6 -3.9 -0.7 3.6 11.9 -8.5 8.4

2010 -- Q1 3.7 -3.0 -5.2 -4.1 -0.4 4.6 5.7 20.5 -8.4 5.9

 Q2 4.4 -2.2 -2.2 -3.1 -1.3 1.7 -1.4 24.4 -7.3 -2.4

 Q3 3.9 -2.0 -2.6 -1.9 1.1 3.7 5.4 16.0 -4.8 8.8

 Q4 4.6 -0.6 -1.1 2.0 1.9 3.1 7.9 14.6 -6.0 7.7

2011 -- Q1 2.3 -2.0 -3.4 2.4 4.0 7.1 -2.9 7.8 -0.9 10.3

1. Data shown are on an end-of-period basis.
8 Z.1, June 9, 2011

D.2 Credit Market Borrowing by Sector

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1976 244.7 83.6 57.6 22.0 73.4 42.9 18.5 69.2 23.5 20.5

1977 321.1 128.0 85.9 35.5 116.9 73.1 19.9 56.3 53.6 13.5

1978 390.5 160.0 105.7 46.4 138.5 78.7 39.4 52.5 74.7 24.0

1979 391.6 168.8 116.5 43.3 160.4 84.2 26.6 35.8 91.1 15.0

1980 342.9 107.5 90.2 3.4 135.8 71.0 22.2 77.4 73.2 24.2

1981 409.7 105.5 67.0 19.8 191.1 124.3 27.6 85.5 105.1 23.5

1982 451.8 84.0 47.4 18.8 164.7 105.3 41.7 161.3 93.0 16.0

1983 572.9 174.5 105.1 48.2 165.8 91.1 47.3 185.2 104.4 17.3

1984 791.7 220.8 127.3 81.7 321.2 203.1 52.5 197.2 157.8 8.4

1985 958.8 313.2 181.5 84.0 256.4 183.4 163.6 225.7 204.0 1.2

1986 845.7 260.5 198.8 55.8 294.9 223.7 74.2 216.0 328.8 9.7

1987 722.0 263.9 221.5 32.3 223.8 166.0 90.4 143.9 290.6 6.3

1988 784.1 272.6 215.7 46.6 306.0 221.0 50.4 155.1 250.2 7.4

1989 684.3 282.5 224.9 47.0 208.2 160.5 47.4 146.4 225.0 10.2

1990 655.5 232.9 200.1 15.1 128.7 134.8 47.1 246.9 211.2 23.9

1991 469.8 184.8 174.6 -8.8 -84.5 -52.8 91.2 278.2 156.0 15.1

1992 511.9 200.9 173.1 9.2 -9.4 22.8 16.5 304.0 238.9 24.1

1993 560.1 237.7 156.3 61.4 8.4 29.2 57.9 256.1 291.5 69.8

1994 575.9 321.5 166.5 135.0 144.0 128.5 -45.5 155.9 462.0 -11.2

1995 678.1 309.6 153.6 147.0 284.8 237.0 -60.8 144.4 439.5 78.3

1996 732.4 335.7 204.9 105.7 272.2 198.8 -20.5 144.9 514.0 88.0

1997 812.5 301.2 215.5 70.3 437.5 332.3 50.8 23.1 574.1 69.9

1998 1005.5 424.3 301.4 97.1 567.0 383.4 66.8 -52.6 1026.8 37.2

1999 1040.2 492.9 378.0 112.4 581.2 382.0 37.3 -71.2 1023.5 19.0

2000 864.2 581.1 383.3 176.5 562.1 362.7 16.9 -295.9 807.3 63.0

2001 1149.1 671.8 507.1 150.6 377.4 209.3 105.5 -5.6 872.0 -11.2

2002 1418.6 824.8 704.5 105.2 191.8 33.8 144.6 257.6 886.6 93.4

2003 1683.5 1006.6 874.9 105.9 160.3 81.3 120.5 396.0 1071.6 43.0

2004 1986.2 1052.2 928.9 117.2 458.0 197.1 114.1 361.9 971.4 155.3

2005 2324.8 1174.5 1039.0 100.4 671.5 322.6 172.0 306.9 1114.9 113.0

2006 2412.1 1179.5 989.3 95.4 895.6 472.8 153.7 183.4 1296.5 332.6

2007 2513.0 862.4 673.6 139.3 1222.4 753.1 191.0 237.1 1798.9 170.3

2008 1902.1 33.1 -49.4 38.8 578.3 252.6 51.5 1239.2 906.0 -226.3

2009 1022.4 -232.6 -153.7 -115.3 -298.0 3.7 109.1 1443.9 -1845.2 193.4

2010 1458.1 -262.7 -285.6 -44.2 35.7 230.2 105.0 1580.2 -992.0 101.3

2005 -- Q1 2216.0 1027.4 906.7 113.2 593.4 274.0 201.3 393.9 1005.4 66.1

 Q2 2262.4 1248.1 1050.2 113.3 644.0 286.8 129.1 241.2 1151.5 112.8

 Q3 2286.4 1211.6 1123.7 96.0 615.0 260.3 215.4 244.4 675.9 144.3

 Q4 2534.4 1210.9 1075.6 79.2 833.4 469.3 142.1 348.0 1626.8 128.8

2006 -- Q1 2731.5 1392.0 1205.9 73.0 913.3 492.0 107.4 318.8 1455.9 209.7

 Q2 2583.1 1354.6 1155.0 93.7 898.9 469.0 134.7 194.9 1499.0 194.2

 Q3 1961.7 1071.1 917.4 98.3 631.5 212.0 160.3 98.7 969.5 596.8

 Q4 2372.2 900.1 678.8 116.7 1138.6 718.1 212.3 121.2 1261.7 329.6

2007 -- Q1 2488.9 948.3 785.0 122.1 1013.0 538.6 236.6 290.9 1595.5 243.3

 Q2 2562.1 938.7 757.4 137.5 1301.6 832.6 212.8 109.0 1455.1 350.1

 Q3 2673.1 841.5 592.1 170.2 1349.3 889.8 162.7 319.7 2533.0 28.2

 Q4 2327.9 721.2 560.1 127.5 1225.8 751.3 152.1 228.8 1611.8 59.6

2008 -- Q1 1991.0 485.1 257.9 124.6 910.2 561.1 111.2 484.5 976.1 221.3

 Q2 1176.5 -9.0 -67.5 91.1 759.0 406.4 36.7 389.8 945.9 -0.3

 Q3 2544.2 -50.8 -180.3 -0.1 535.0 247.5 81.7 1978.3 1150.3 -622.8

 Q4 1896.7 -292.7 -207.7 -60.4 109.1 -204.7 -23.8 2104.1 551.6 -503.4

2009 -- Q1 1540.6 -102.7 -21.7 -96.9 -32.1 143.2 125.4 1550.0 -1914.7 163.1

 Q2 1534.8 -252.1 -192.4 -124.4 -259.3 32.5 94.7 1951.5 -2313.6 194.7

 Q3 715.8 -309.8 -269.3 -98.9 -478.1 -109.4 132.3 1371.5 -1795.4 258.7

 Q4 298.5 -265.6 -131.2 -140.8 -422.6 -51.6 84.0 902.6 -1357.2 157.0

2010 -- Q1 1279.4 -408.9 -534.4 -101.5 -47.2 318.3 133.5 1601.9 -1315.3 118.2

 Q2 1535.0 -295.3 -229.3 -75.7 -138.7 120.5 -34.0 2003.0 -1079.7 -49.6

 Q3 1377.6 -270.6 -268.4 -47.1 123.1 261.6 129.1 1395.9 -703.8 177.9

 Q4 1640.6 -76.1 -110.2 47.7 205.4 220.4 191.2 1320.2 -869.2 158.8

2011 -- Q1 828.4 -270.9 -341.4 58.5 435.1 512.9 -71.6 735.8 -134.6 218.3
Z.1, June 9, 2011 9

D.3 Credit Market Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1976 2505.3 818.8 517.0 229.0 935.6 612.2 237.8 513.1 283.9 115.7

1977 2826.6 946.7 603.0 264.9 1054.4 687.1 256.2 569.4 337.8 128.6

1978 3211.2 1105.3 708.6 311.3 1188.4 761.4 295.6 621.9 412.5 155.7

1979 3603.0 1275.3 826.7 354.6 1347.8 844.6 322.2 657.7 504.9 168.5

1980 3953.5 1394.4 926.5 358.0 1479.7 911.8 344.4 735.0 578.1 193.4

1981 4361.7 1504.7 998.2 377.9 1664.5 1029.8 372.1 820.5 682.4 214.0

1982 4783.4 1574.0 1031.1 396.7 1813.9 1119.9 413.8 981.8 778.1 208.1

1983 5359.2 1728.5 1116.2 444.9 2002.6 1233.9 461.1 1167.0 882.7 224.1

1984 6146.2 1943.8 1242.8 526.6 2324.6 1437.8 513.6 1364.2 1052.4 232.8

1985 7123.1 2277.7 1449.6 610.6 2577.6 1617.9 677.9 1589.9 1257.3 242.5

1986 7966.3 2536.7 1648.3 666.4 2871.6 1840.6 752.1 1805.9 1593.6 251.9

1987 8670.1 2754.6 1827.9 698.6 3123.2 2034.4 842.6 1949.8 1895.5 259.0

1988 9450.7 3044.1 2054.2 745.2 3408.7 2232.9 893.0 2104.9 2145.8 269.8

1989 10152.1 3319.1 2259.5 809.3 3641.4 2409.3 940.4 2251.2 2399.3 287.9

1990 10834.9 3581.1 2488.8 824.4 3768.2 2542.3 987.4 2498.1 2613.6 318.2

1991 11301.4 3769.5 2667.0 815.6 3676.9 2487.3 1078.6 2776.4 2769.6 350.4

1992 11816.5 3970.4 2840.0 824.8 3670.6 2511.8 1095.1 3080.3 3024.1 372.4

1993 12391.4 4210.5 2998.7 886.2 3691.4 2553.4 1153.0 3336.5 3321.0 468.2

1994 12973.6 4531.7 3165.3 1021.2 3842.1 2688.7 1107.5 3492.3 3791.1 443.1

1995 13667.5 4841.2 3318.9 1168.2 4142.7 2941.5 1046.7 3636.7 4233.5 567.6

1996 14399.8 5177.0 3523.8 1273.9 4415.0 3140.3 1026.2 3781.7 4747.5 657.2

1997 15210.8 5478.4 3739.3 1344.2 4850.7 3470.8 1076.9 3804.8 5301.4 723.6

1998 16216.4 5902.7 4040.6 1441.3 5417.7 3854.1 1143.8 3752.2 6328.2 783.2

1999 17291.2 6394.8 4416.3 1553.6 6034.5 4271.7 1181.0 3681.0 7349.4 748.2

2000 18165.3 6985.8 4798.4 1741.3 6596.5 4634.3 1197.9 3385.1 8157.8 814.5

2001 19297.4 7657.6 5305.4 1891.8 6957.0 4826.7 1303.4 3379.5 9155.9 865.4

2002 20716.0 8482.4 6009.9 1997.0 7148.7 4860.5 1447.9 3637.0 10042.5 1072.8

2003 22443.7 9508.9 6894.5 2102.9 7333.3 4966.1 1568.4 4033.1 10949.3 1253.3

2004 24444.7 10575.9 7838.2 2220.1 7791.3 5163.1 1682.5 4395.0 11935.6 1438.8

2005 26769.5 11763.7 8877.3 2320.6 8449.4 5472.3 1854.5 4701.9 12996.0 1513.9

2006 29179.9 12943.2 9866.5 2416.0 9343.3 5943.4 2008.2 4885.3 14291.4 1882.6

2007 31699.4 13805.6 10540.2 2555.3 10572.2 6703.0 2199.2 5122.3 16217.5 2126.3

2008 33601.5 13843.8 10495.7 2594.1 11145.6 6950.6 2250.7 6361.5 17123.1 1708.8

2009 34633.6 13611.2 10342.1 2478.9 10857.2 6963.9 2359.8 7805.4 15618.4 2013.6

2010 36112.7 13386.2 10055.4 2434.7 10876.1 7176.3 2464.7 9385.6 14171.3 2115.4

2005 -- Q1 24998.7 10846.1 8064.9 2248.4 7926.3 5218.3 1732.8 4493.5 12187.0 1455.3

 Q2 25564.3 11158.1 8327.5 2276.7 8087.3 5290.0 1765.1 4553.8 12474.8 1483.5

 Q3 26135.9 11461.0 8608.4 2300.7 8241.1 5355.0 1819.0 4614.9 12570.3 1519.6

 Q4 26769.5 11763.7 8877.3 2320.6 8449.4 5472.3 1854.5 4701.9 12996.0 1513.9

2006 -- Q1 27450.3 12111.7 9178.7 2338.8 8675.7 5593.3 1881.3 4781.6 13356.7 1566.3

 Q2 28096.5 12450.4 9467.5 2362.2 8900.8 5710.9 1915.0 4830.3 13733.6 1614.9

 Q3 28586.9 12718.2 9696.8 2386.8 9058.7 5763.9 1955.1 4855.0 13975.9 1764.1

 Q4 29179.9 12943.2 9866.5 2416.0 9343.3 5943.4 2008.2 4885.3 14291.4 1882.6

2007 -- Q1 29808.6 13180.3 10062.8 2446.5 9603.1 6084.6 2067.3 4958.0 14817.5 1924.0

 Q2 30449.2 13415.0 10252.1 2480.9 9928.5 6292.7 2120.5 4985.2 15181.2 2011.5

 Q3 31117.4 13625.3 10400.2 2523.4 10265.8 6515.2 2161.2 5065.1 15814.5 2018.6

 Q4 31699.4 13805.6 10540.2 2555.3 10572.2 6703.0 2199.2 5122.3 16217.5 2126.3

2008 -- Q1 32197.2 13926.9 10604.6 2586.4 10799.8 6843.3 2227.0 5243.5 16461.5 2181.6

 Q2 32491.3 13924.7 10587.8 2609.2 10989.5 6944.9 2236.2 5340.9 16698.0 2181.6

 Q3 33127.4 13916.9 10547.7 2609.2 11118.3 7001.8 2256.6 5835.5 16985.2 2025.6

 Q4 33601.5 13843.8 10495.7 2594.1 11145.6 6950.6 2250.7 6361.5 17123.1 1708.8

2009 -- Q1 33996.3 13818.1 10490.3 2569.9 11147.2 6996.0 2282.0 6749.0 17026.4 1749.6

 Q2 34380.0 13755.0 10442.2 2538.8 11082.3 7004.1 2305.7 7236.9 16448.0 1798.2

 Q3 34558.9 13677.6 10374.9 2514.1 10962.8 6976.8 2338.8 7579.8 15964.9 1862.9

 Q4 34633.6 13611.2 10342.1 2478.9 10857.2 6963.9 2359.8 7805.4 15618.4 2013.6

2010 -- Q1 34974.5 13546.7 10207.3 2453.5 10828.7 7025.6 2393.2 8205.9 14834.5 2043.6

 Q2 35358.2 13472.9 10150.0 2434.6 10794.0 7055.8 2384.7 8706.6 14564.6 2031.2

 Q3 35702.6 13405.2 10082.9 2422.8 10824.8 7121.2 2417.0 9055.6 14388.6 2075.7

 Q4 36112.7 13386.2 10055.4 2434.7 10876.1 7176.3 2464.7 9385.6 14171.3 2115.4

2011 -- Q1 36319.8 13318.5 9970.0 2449.3 10984.9 7304.5 2446.9 9569.6 14137.7 2170.0

1. Data shown are on an end-of-period basis.
10 Z.1, June 9, 2011

F.1 Total Credit Market Borrowing and Lending (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Credit market borrowing 3552.7 4041.2 4482.2 2581.8 -629.4 567.5 82.3 405.7 851.6 930.3 912.2 1

 2 Domestic nonfinancial sectors 2324.8 2412.1 2513.0 1902.1 1022.4 1458.1 1279.4 1535.0 1377.6 1640.6 828.4 2

 3 Household sector 1174.5 1179.5 862.4 33.1 -232.6 -262.7 -408.9 -295.3 -270.6 -76.1 -270.9 3

 4 Nonfinancial corporate business 322.6 472.8 753.1 252.6 3.7 230.2 318.3 120.5 261.6 220.4 512.9 4

 5 Nonfarm noncorporate business 331.6 408.6 454.8 321.8 -299.7 -198.4 -359.0 -253.2 -157.9 -23.7 -53.6 5

 6 Farm business 17.3 14.2 14.6 4.0 -2.0 3.9 -6.5 -6.0 19.4 8.7 -24.1 6

 7 State and local governments 172.0 153.7 191.0 51.5 109.1 105.0 133.5 -34.0 129.1 191.2 -71.6 7

 8 Federal government 306.9 183.4 237.1 1239.2 1443.9 1580.2 1601.9 2003.0 1395.9 1320.2 735.8 8

 9 Rest of the world 113.0 332.6 170.3 -226.3 193.4 101.3 118.2 -49.6 177.9 158.8 218.3 9

10 Financial sectors 1114.9 1296.5 1798.9 906.0 -1845.2 -992.0 -1315.3 -1079.7 -703.8 -869.2 -134.6 10

11 Commercial banking 85.1 175.9 261.2 162.8 -162.9 -195.7 -190.4 -227.2 -7.3 -357.9 17.4 11

12 U.S.-chartered commercial banks 36.9 107.5 131.8 79.1 -152.6 -153.1 -114.9 -108.8 -211.8 -177.0 -26.8 12

13 Foreign banking offices in U.S. 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Bank holding companies 48.2 68.7 129.4 84.0 -10.3 -42.6 -75.4 -118.4 204.4 -180.9 44.2 14

15 Savings institutions 22.5 -108.2 104.1 -67.1 -169.6 -29.0 -68.2 -35.0 -91.8 79.3 -49.5 15

16 Credit unions 3.3 4.2 13.4 8.3 -14.1 -0.4 -4.4 -1.6 0.8 3.6 -9.6 16

17 Life insurance companies 0.4 2.7 14.5 26.2 -6.6 -3.2 -10.8 0.0 -1.2 -0.8 1.8 17

18 Government-sponsored enterprises -84.0 35.6 282.4 271.7 -475.3 -233.8 -60.1 -248.6 -372.1 -254.3 11.1 18

19 Agency- and GSE-backed mortgage pools 164.5 292.6 623.3 497.0 415.3 186.9 131.1 251.0 153.4 212.1 212.3 19

20 ABS issuers 729.5 807.7 344.3 -409.2 -757.6 -525.7 -664.3 -546.5 -484.9 -407.0 -277.2 20

21 Finance companies 33.5 34.8 34.9 -79.4 -156.2 -173.9 -301.3 -145.6 -171.6 -77.0 3.1 21

22 REITs 55.4 15.5 10.2 -48.6 -33.7 11.2 17.8 6.6 35.1 -14.9 25.5 22

23 Brokers and dealers 0.1 6.4 -4.0 77.7 -49.7 36.9 -2.4 34.6 -19.2 134.4 -6.1 23

24 Funding corporations 104.7 29.1 114.5 466.4 -434.8 -65.3 -162.3 -167.3 254.9 -186.7 -63.3 24

25 Credit market lending 3552.7 4041.2 4482.2 2581.8 -629.4 567.5 82.3 405.7 851.6 930.3 912.2 25

26 Domestic nonfinancial sectors 425.0 213.4 483.9 -122.0 7.6 214.4 -204.4 332.5 -266.6 996.2 -895.9 26

27 Household sector 218.1 90.4 519.2 -40.2 -256.5 102.6 -366.3 433.5 -562.4 905.4 -968.0 27

28 Nonfinancial corporate business 42.4 -11.6 -79.1 -32.2 6.4 16.7 94.5 -24.5 72.7 -75.8 60.2 28

29 Nonfarm noncorporate business 11.4 -0.1 10.0 -10.9 -7.5 -4.3 -5.6 -4.9 -4.6 -2.1 -1.2 29

30 State and local governments 154.0 128.5 27.2 -125.4 -30.8 14.1 19.2 -88.3 46.4 79.1 -101.5 30

31 Federal government -0.9 6.1 6.6 86.5 296.1 85.3 53.8 16.8 181.3 89.5 114.7 31

32 Rest of the world 752.0 973.6 943.8 355.8 209.7 632.7 583.2 773.6 925.8 248.0 277.3 32

33 Financial sectors 2375.7 2854.2 3054.5 2348.1 -846.8 -279.6 -296.5 -700.4 192.3 -313.9 1530.7 33

34 Monetary authority 26.4 34.7 -38.3 245.4 1001.6 271.5 762.0 133.5 -230.9 421.3 995.3 34

35 Commercial banking 657.1 765.4 754.2 643.7 -417.2 -212.6 -278.4 -612.1 817.5 -777.5 -123.3 35

36 U.S.-chartered commercial banks 506.6 660.0 535.7 531.1 -117.4 -186.0 -264.3 -515.6 178.2 -142.1 -229.6 36

37 Foreign banking offices in U.S. 144.5 103.7 201.7 100.7 -281.0 -29.5 -9.8 13.9 470.7 -593.0 80.6 37

38 Bank holding companies -4.2 3.3 23.2 13.9 -16.0 22.1 13.2 -64.2 180.3 -40.7 30.8 38

39 Banks in U.S.-affiliated areas 10.2 -1.7 -6.4 -1.9 -2.8 -19.3 -17.4 -46.2 -11.7 -1.7 -5.1 39

40 Savings institutions 199.4 -78.0 63.0 -276.1 -249.6 6.6 -167.1 8.1 -56.2 241.6 -242.6 40

41 Credit unions 36.2 30.1 35.3 40.0 33.1 13.3 39.0 27.1 -41.6 28.8 64.6 41

42 Property-casualty insurance companies 72.8 44.8 5.3 -15.9 33.3 3.9 0.4 1.7 19.7 -6.3 20.4 42

43 Life insurance companies 116.2 67.5 84.8 11.6 139.8 151.6 80.3 163.4 207.2 155.6 145.3 43

44 Private pension funds 45.3 58.4 102.5 90.6 111.6 108.0 108.2 97.0 97.5 129.5 132.9 44

45 State and local govt. retirement funds 18.1 114.6 12.3 13.3 -8.8 -8.2 -3.9 -17.7 -14.0 2.8 34.2 45

46 Federal government retirement funds 7.7 8.4 11.7 24.2 7.4 11.0 6.5 17.0 18.9 1.5 13.9 46

47 Money market mutual funds -5.5 220.0 375.6 738.6 -644.0 -410.0 -702.9 -226.0 -379.5 -331.8 -36.8 47

48 Mutual funds 124.1 184.9 271.1 73.3 380.7 374.3 510.3 163.2 555.6 268.0 536.5 48

49 Closed-end funds 2.2 6.0 -0.9 -41.1 9.4 4.2 10.0 -8.2 9.2 6.0 8.1 49

50 Exchange-traded funds 6.8 5.7 13.3 23.0 46.0 29.7 41.2 45.4 35.2 -3.2 29.7 50

51 Government-sponsored enterprises -69.1 46.6 239.0 239.1 -333.9 -328.2 -286.5 -320.7 -550.9 -154.8 -52.5 51

52 Agency- and GSE-backed mortgage pools 164.5 292.6 623.3 497.0 415.3 186.9 131.1 251.0 153.4 212.1 212.3 52

53 ABS issuers 732.9 799.8 341.4 -392.6 -723.0 -515.9 -639.3 -542.0 -485.0 -397.3 -282.9 53

54 Finance companies 64.7 71.0 16.6 -72.3 -223.3 -141.7 -230.1 -102.6 -156.7 -77.6 -30.9 54

55 REITs 41.0 26.1 -21.2 -63.9 1.9 35.2 16.3 17.7 55.2 51.6 195.5 55

56 Brokers and dealers 82.3 106.2 219.7 -85.7 -192.1 32.2 188.6 36.3 71.0 -167.0 137.7 56

57 Funding corporations 52.7 49.5 -54.3 656.0 -234.9 108.7 117.9 167.6 66.7 82.7 -226.4 57

(1) Excludes corporate equities and mutual fund shares.
Z.1, June 9, 2011 11

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Domestic 2324.8 2412.1 2513.0 1902.1 1022.4 1458.1 1279.4 1535.0 1377.6 1640.6 828.4 1

 2 By instrument 2324.8 2412.1 2513.0 1902.1 1022.4 1458.1 1279.4 1535.0 1377.6 1640.6 828.4 2

 3 Commercial paper -7.7 22.4 11.3 7.7 -73.1 24.5 50.3 62.7 43.8 -58.7 31.7 3

 4 Treasury securities 307.3 183.7 237.5 1239.0 1443.7 1579.6 1601.5 2001.9 1395.4 1319.4 734.6 4

 5 Agency- and GSE-backed securities -0.4 -0.3 -0.4 0.2 0.1 0.7 0.3 1.1 0.5 0.8 1.2 5

 6 Municipal securities 195.0 177.4 215.6 61.4 128.7 116.4 152.6 -40.9 146.4 207.3 -62.7 6

 7 Corporate bonds 56.7 215.6 311.2 204.6 377.2 419.9 432.4 231.6 510.8 504.6 377.5 7

 8 Bank loans n.e.c. 134.5 175.3 240.2 192.5 -296.1 -33.0 -7.7 -52.2 -90.3 18.1 149.4 8

 9 Other loans and advances 119.3 159.8 311.0 74.9 -154.3 -98.2 -122.9 -99.7 -87.0 -83.4 -25.2 9

10 Mortgages 1419.8 1382.7 1047.3 83.1 -288.8 -507.4 -725.7 -494.0 -494.9 -315.2 -436.7 10

11 Home 1114.2 1071.7 710.4 -106.6 -207.9 -329.3 -593.3 -287.9 -302.9 -133.1 -366.0 11

12 Multifamily residential 62.4 40.4 81.7 43.7 9.8 -9.8 -25.1 -13.7 3.8 -4.2 2.6 12

13 Commercial 234.0 267.4 250.5 125.0 -91.6 -166.1 -105.1 -190.1 -193.6 -175.7 -73.6 13

14 Farm 9.1 3.3 4.6 20.9 0.9 -2.3 -2.2 -2.2 -2.3 -2.3 0.2 14

15 Consumer credit 100.4 95.4 139.3 38.8 -115.3 -44.2 -101.5 -75.7 -47.1 47.7 58.5 15

16 By sector 2324.8 2412.1 2513.0 1902.1 1022.4 1458.1 1279.4 1535.0 1377.6 1640.6 828.4 16

17 Household sector 1174.5 1179.5 862.4 33.1 -232.6 -262.7 -408.9 -295.3 -270.6 -76.1 -270.9 17

18 Nonfinancial business 671.5 895.6 1222.4 578.3 -298.0 35.7 -47.2 -138.7 123.1 205.4 435.1 18

19 Corporate 322.6 472.8 753.1 252.6 3.7 230.2 318.3 120.5 261.6 220.4 512.9 19

20 Nonfarm noncorporate 331.6 408.6 454.8 321.8 -299.7 -198.4 -359.0 -253.2 -157.9 -23.7 -53.6 20

21 Farm 17.3 14.2 14.6 4.0 -2.0 3.9 -6.5 -6.0 19.4 8.7 -24.1 21

22 State and local governments 172.0 153.7 191.0 51.5 109.1 105.0 133.5 -34.0 129.1 191.2 -71.6 22

23 Federal government 306.9 183.4 237.1 1239.2 1443.9 1580.2 1601.9 2003.0 1395.9 1320.2 735.8 23

24 Foreign borrowing in U.S. 113.0 332.6 170.3 -226.3 193.4 101.3 118.2 -49.6 177.9 158.8 218.3 24

25 Commercial paper 38.6 98.4 -69.3 -71.0 59.4 -5.4 -24.2 -54.9 14.6 43.2 114.3 25

26 Bonds 64.5 227.8 218.7 -158.9 144.9 88.6 141.4 -7.3 135.0 85.1 55.6 26

27 Bank loans n.e.c. 14.5 13.8 24.1 5.1 -11.2 17.9 -0.5 13.8 28.2 29.9 47.9 27

28 Other loans and advances -4.6 -7.4 -3.2 -1.5 0.3 0.3 1.5 -1.1 0.1 0.7 0.6 28

29 Domestic and foreign 2437.8 2744.7 2683.3 1675.8 1215.8 1559.5 1397.6 1485.4 1555.4 1799.5 1046.7 29

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 By instrument 1114.9 1296.5 1798.9 906.0 -1845.2 -992.0 -1315.3 -1079.7 -703.8 -869.2 -134.6 1

 2 Open market paper 214.2 196.3 -111.4 -125.6 -448.2 -99.1 -168.7 -261.5 272.8 -238.9 151.3 2

 3 GSE issues -84.0 35.6 282.4 271.7 -475.3 -233.8 -60.1 -248.6 -372.1 -254.3 11.1 3

 4 Agency- and GSE-backed mortgage pool sec. 164.5 292.6 623.3 497.0 415.3 186.9 131.1 251.0 153.4 212.1 212.3 4

 5 Corporate bonds 743.0 806.5 703.2 -273.3 -590.3 -618.0 -976.3 -601.7 -356.7 -537.4 -435.3 5

 6 Bank loans n.e.c. 18.8 -62.3 70.9 496.1 -467.4 -90.2 -91.2 -82.2 -120.7 -66.7 -38.8 6

 7 Other loans and advances 44.4 21.2 225.8 33.3 -282.6 -144.7 -150.9 -138.6 -283.7 -5.7 -46.4 7

 8 Mortgages 14.1 6.6 4.7 6.8 3.4 6.9 0.8 1.9 3.1 21.8 11.2 8

 9 By sector 1114.9 1296.5 1798.9 906.0 -1845.2 -992.0 -1315.3 -1079.7 -703.8 -869.2 -134.6 9

10 Commercial banking 85.1 175.9 261.2 162.8 -162.9 -195.7 -190.4 -227.2 -7.3 -357.9 17.4 10

11 U.S.-chartered commercial banks 36.9 107.5 131.8 79.1 -152.6 -153.1 -114.9 -108.8 -211.8 -177.0 -26.8 11

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

13 Bank holding companies 48.2 68.7 129.4 84.0 -10.3 -42.6 -75.4 -118.4 204.4 -180.9 44.2 13

14 Savings institutions 22.5 -108.2 104.1 -67.1 -169.6 -29.0 -68.2 -35.0 -91.8 79.3 -49.5 14

15 Credit unions 3.3 4.2 13.4 8.3 -14.1 -0.4 -4.4 -1.6 0.8 3.6 -9.6 15

16 Life insurance companies 0.4 2.7 14.5 26.2 -6.6 -3.2 -10.8 0.0 -1.2 -0.8 1.8 16

17 Government-sponsored enterprises -84.0 35.6 282.4 271.7 -475.3 -233.8 -60.1 -248.6 -372.1 -254.3 11.1 17

18 Agency- and GSE-backed mortgage pools 164.5 292.6 623.3 497.0 415.3 186.9 131.1 251.0 153.4 212.1 212.3 18

19 ABS issuers 729.5 807.7 344.3 -409.2 -757.6 -525.7 -664.3 -546.5 -484.9 -407.0 -277.2 19

20 Finance companies 33.5 34.8 34.9 -79.4 -156.2 -173.9 -301.3 -145.6 -171.6 -77.0 3.1 20

21 REITs 55.4 15.5 10.2 -48.6 -33.7 11.2 17.8 6.6 35.1 -14.9 25.5 21

22 Brokers and dealers 0.1 6.4 -4.0 77.7 -49.7 36.9 -2.4 34.6 -19.2 134.4 -6.1 22

23 Funding corporations 104.7 29.1 114.5 466.4 -434.8 -65.3 -162.3 -167.3 254.9 -186.7 -63.3 23
12 Z.1, June 9, 2011

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total 3552.7 4041.2 4482.2 2581.8 -629.4 567.5 82.3 405.7 851.6 930.3 912.2 1

 2 Open market paper 245.1 317.1 -169.4 -189.0 -461.9 -79.9 -142.7 -253.7 331.1 -254.4 297.3 2

 3 Treasury securities 307.3 183.7 237.5 1239.0 1443.7 1579.6 1601.5 2001.9 1395.4 1319.4 734.6 3

 4 Agency- and GSE-backed securities 80.0 327.9 905.3 768.9 -59.9 -46.2 71.3 3.5 -218.2 -41.4 224.5 4

 5 Municipal securities 195.0 177.4 215.6 61.4 128.7 116.4 152.6 -40.9 146.4 207.3 -62.7 5

 6 Corporate and foreign bonds 864.2 1249.9 1233.1 -227.6 -68.2 -109.6 -402.4 -377.4 289.1 52.3 -2.1 6

 7 Bank loans n.e.c. 167.8 126.9 335.1 693.7 -774.6 -105.4 -99.3 -120.6 -182.8 -18.8 158.5 7

 8 Other loans and advances 159.1 173.6 533.6 106.7 -436.6 -242.7 -272.3 -239.4 -370.6 -88.4 -71.0 8

 9 Mortgages 1433.9 1389.3 1051.9 89.8 -285.4 -500.5 -724.9 -492.0 -491.8 -293.4 -425.4 9

10 Consumer credit 100.4 95.4 139.3 38.8 -115.3 -44.2 -101.5 -75.7 -47.1 47.7 58.5 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

11 Total net issues 183.6 -31.8 -95.5 294.3 803.9 374.9 425.5 256.0 481.7 336.5 905.2 11

12 Corporate equities -76.6 -368.6 -460.2 263.4 313.4 -9.3 -119.3 220.5 -62.4 -76.0 -58.3 12

13 Nonfinancial -341.8 -565.7 -786.8 -336.0 -64.6 -279.2 -200.2 -215.2 -338.4 -363.1 -331.9 13

 Foreign shares purchased by

14 U.S. residents 186.7 137.3 147.8 -39.0 63.3 78.6 43.1 88.6 67.0 115.7 173.6 14

15 Financial 78.5 59.7 178.9 638.4 314.6 191.3 37.8 347.0 209.0 171.4 100.0 15

16 Mutual fund shares 260.2 336.8 364.7 31.0 490.5 384.2 544.7 35.5 544.1 412.5 963.6 16

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Net flows through credit markets

 1 (from table F.4, line 1) 3552.7 4041.2 4482.2 2581.8 -629.4 567.5 82.3 405.7 851.6 930.3 912.2 1

 2 U.S. official reserve assets -14.1 -2.4 0.1 4.8 99.9 1.8 3.1 0.7 4.4 -0.8 1.7 2

 3 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Treasury currency 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 -0.0 -1.1 0.0 0.0 4

 5 Foreign deposits 40.8 87.2 257.0 -402.1 -171.6 84.8 35.7 165.8 48.7 89.0 44.9 5

 6 Net interbank transactions -12.4 -11.3 -97.5 1801.9 -607.9 -177.7 -240.4 -526.1 -281.7 337.3 2724.0 6

 7 Checkable deposits and currency 4.4 -19.9 36.7 568.4 -7.9 266.3 29.4 418.7 126.8 490.4 -531.5 7

 8 Small time and savings deposits 314.4 347.0 316.4 524.8 517.2 298.4 137.7 132.5 453.8 469.7 39.1 8

 9 Large time deposits 284.4 261.2 283.4 -190.6 -141.8 -182.3 -268.5 -358.1 104.7 -207.2 165.6 9

10 Money market fund shares 127.0 305.3 720.9 724.2 -499.0 -502.9 -1117.6 -552.7 -141.6 -199.9 -103.2 10

11 Security RPs 315.2 403.2 8.1 -888.4 211.3 -199.8 78.0 -491.1 -341.6 -44.7 64.7 11

12 Corporate equities -76.6 -368.6 -460.2 263.4 313.4 -9.3 -119.3 220.5 -62.4 -76.0 -58.3 12

13 Mutual fund shares 260.2 336.8 364.7 31.0 490.5 384.2 544.7 35.5 544.1 412.5 963.6 13

14 Trade payables 340.8 189.1 202.0 -174.1 -74.9 232.2 355.3 172.9 265.4 135.2 277.3 14

15 Security credit 0.2 211.5 276.5 -397.9 -95.9 123.6 27.3 167.7 116.6 182.8 129.9 15

16 Life insurance reserves 16.1 65.6 34.2 67.0 26.5 17.2 0.9 13.8 49.0 5.3 34.8 16

17 Pension fund reserves 275.4 250.6 200.8 112.7 111.6 187.7 168.1 118.7 184.7 279.2 94.5 17

18 Taxes payable -4.7 22.5 -69.3 -123.8 -5.0 12.1 2.1 -16.7 41.3 21.5 46.3 18

19 Noncorporate proprietors’ equity -56.0 -11.0 -33.2 -289.0 -62.7 5.7 10.3 23.9 10.4 -21.8 -35.8 19

20 Miscellaneous 1266.1 1857.8 2550.2 2284.2 -303.4 1220.0 1108.0 1668.6 1819.6 205.3 1639.6 20

21 Total financial sources 6634.8 7966.5 9072.4 6497.5 -826.4 2329.2 837.1 1600.4 3792.6 3008.1 6409.5 21

 - Liabilities not identified as assets:

22 Treasury currency 0.7 -1.1 -1.2 -0.8 -4.4 -1.1 -0.2 -1.8 -1.9 -0.5 -1.0 22

23 Foreign deposits 12.3 106.8 197.5 -354.4 -136.0 30.5 25.9 112.2 -42.1 26.1 46.3 23

24 Net interbank liabilities -3.6 -1.9 1.8 30.6 34.4 -20.2 -227.1 -132.9 112.6 166.6 -94.6 24

25 Security RPs 106.3 304.5 -225.0 -587.1 406.6 -84.5 234.9 -217.5 -402.0 46.6 -384.5 25

26 Taxes payable -45.6 17.3 -34.6 -58.8 -9.1 -37.4 -7.1 -63.5 1.3 -80.3 -6.2 26

27 Miscellaneous -91.1 -656.8 -18.8 2107.5 -216.3 420.9 197.4 1215.3 534.6 -342.6 552.1 27

 - Floats not included in assets:

28 Checkable deposits: State and local govt. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Federal govt. -6.6 -3.0 1.2 -3.3 0.7 0.0 20.2 -1.5 -10.9 -7.8 21.1 29

30 Private domestic 1.7 -0.0 -0.1 -2.0 -1.0 -1.1 -3.7 -0.0 1.9 -2.5 -0.3 30

31 Trade credit -30.4 145.9 -46.4 8.0 -22.5 98.4 316.0 25.0 122.1 -69.6 98.4 31

 Totals identified to sectors

32 as assets 6691.2 8054.7 9198.1 5358.0 -878.8 1923.8 280.8 665.2 3477.0 3272.3 6178.2 32
Z.1, June 9, 2011 13

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross Domestic Product (GDP) 12638.4 13398.9 14061.8 14369.1 14119.0 14660.4 14446.4 14578.7 14745.1 14871.4 15010.3 1

 2 Personal consumption expenditures (2) 8819.0 9322.7 9806.3 10104.5 10001.3 10349.0 10230.8 10285.4 10366.3 10513.6 10668.2 2

 3 Durable goods 1105.5 1133.0 1159.4 1083.5 1026.5 1089.4 1060.7 1074.1 1087.8 1134.8 1158.1 3

 4 Nondurable goods 1968.4 2088.7 2198.2 2296.0 2204.2 2336.3 2319.3 2303.4 2331.8 2390.8 2467.2 4

 5 Services 5745.1 6100.9 6448.6 6725.0 6770.6 6923.4 6850.9 6907.9 6946.7 6988.1 7042.9 5

 6 Gross private domestic investment 2172.2 2327.2 2295.2 2096.7 1589.2 1827.5 1739.7 1841.8 1907.2 1821.3 1881.9 6

 7 Fixed investment 2122.3 2267.2 2266.1 2137.8 1716.4 1755.8 1689.8 1761.4 1768.6 1803.5 1818.5 7

 8 Nonresidential 1347.3 1505.3 1637.5 1665.3 1364.4 1415.3 1349.6 1404.2 1438.8 1468.8 1485.3 8

 9 Household sector (nonprofit organizations) 99.1 107.5 120.2 129.4 118.9 120.4 119.4 120.3 120.0 122.1 120.5 9

10 Nonfinancial corporate business 915.0 1036.7 1114.2 1131.1 919.1 945.0 902.2 937.7 960.2 979.9 990.3 10

11 Nonfarm noncorporate business 141.8 163.2 178.5 178.5 142.8 159.6 145.7 157.8 164.0 171.1 176.0 11

12 Farm business 36.3 35.2 37.1 43.1 36.9 39.9 37.8 39.6 40.7 41.5 42.3 12

13 Financial institutions 155.3 162.7 187.5 183.3 146.7 150.4 144.5 148.8 153.9 154.2 156.2 13

14 Residential 774.9 761.9 628.6 472.5 352.1 340.5 340.2 357.2 329.8 334.7 333.2 14

15 Household sector 681.9 670.1 541.7 397.2 293.8 283.4 283.2 297.9 274.3 278.4 277.3 15

16 Nonfinancial corporate business 4.1 3.2 15.7 5.5 4.4 -0.7 -2.0 1.3 -4.0 2.1 2.0 16

17 Nonfarm noncorporate business 86.4 85.0 80.5 69.6 54.0 53.0 52.8 55.1 51.7 52.4 52.3 17

18 REITs 2.5 3.5 -9.3 0.1 -0.1 4.7 6.2 3.0 7.7 1.7 1.6 18

19 Change in private inventories 50.0 60.0 29.1 -41.1 -127.2 71.7 50.0 80.4 138.6 17.8 63.4 19

20 Nonfinancial corporate business 47.3 60.4 28.3 -40.6 -124.5 61.9 38.6 67.3 125.6 16.1 62.9 20

21 Nonfarm noncorporate business 2.5 3.2 1.5 -2.1 -6.6 3.3 2.0 3.5 6.6 0.8 3.3 21

22 Farm business 0.1 -3.6 -0.7 1.6 3.8 6.5 9.3 9.6 6.3 0.9 -2.8 22

23 Net U.S. exports of goods and services -722.7 -769.3 -714.0 -710.5 -386.4 -516.4 -479.9 -539.3 -550.5 -495.9 -570.7 23

24 Exports 1305.1 1471.0 1661.7 1843.4 1578.4 1837.5 1757.8 1817.9 1848.9 1925.6 2020.0 24

25 - Imports 2027.8 2240.3 2375.7 2553.8 1964.7 2353.9 2237.6 2357.1 2399.4 2421.5 2590.7 25

 Government consumption expenditures and

26 gross investment 2369.9 2518.4 2674.2 2878.3 2914.9 3000.2 2955.7 2990.8 3022.2 3032.3 3030.9 26

27 Consumption expenditures (3) 1977.9 2093.3 2217.8 2382.8 2411.5 2490.6 2464.7 2485.2 2502.9 2509.7 2530.2 27

28 Federal 765.8 811.0 848.9 934.6 987.1 1043.4 1017.3 1038.5 1061.6 1056.2 1052.2 28

29 State and local 1212.0 1282.3 1368.9 1448.2 1424.4 1447.2 1447.4 1446.7 1441.3 1453.5 1478.0 29

30 Gross investment (3) 392.0 425.1 456.5 495.5 503.4 509.6 491.0 505.6 519.3 522.6 500.7 30

31 Federal 110.5 120.7 127.4 145.3 152.4 170.9 160.8 168.2 172.3 182.1 171.4 31

32 State and local 281.6 304.4 329.0 350.3 351.0 338.7 330.2 337.4 346.9 340.5 329.3 32

 Memo:

33 Net U.S. income receipts from rest of the world 97.1 72.4 123.3 174.5 146.3 188.3 191.2 195.3 188.5 178.0 227.4 33

34 U.S. income receipts 573.0 721.1 871.0 839.2 629.8 706.2 693.7 696.1 704.0 730.8 770.2 34

35 - U.S. income payments 475.9 648.6 747.7 664.7 483.6 517.9 502.6 500.8 515.5 552.8 542.8 35

 Gross National Product (GNP) =

36 GDP + net U.S. income receipts 12735.5 13471.3 14185.1 14543.6 14265.3 14848.6 14637.6 14774.0 14933.6 15049.3 15237.7 36

 Acquisition of nonproduced nonfinancial assets (net)

37 Household sector -9.2 -10.2 -11.3 -11.5 -11.3 -12.0 -11.7 -11.9 -12.2 -12.4 -12.6 37

38 Nonfinancial corporate business -0.6 12.5 -1.7 16.7 5.0 -2.5 -2.0 -1.5 -4.1 -2.4 -2.3 38

39 State and local governments 10.3 11.1 13.8 13.9 13.4 14.3 13.8 14.1 14.4 14.7 15.0 39

40 Federal governments -0.5 -13.3 -1.3 -19.2 -7.0 0.3 -0.1 -0.7 1.9 0.1 0.0 40

41 Rest of the world 0.1 -0.1 0.5 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 -0.0 41

(1) This table is based on NIPA table 1.1.5 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).

(2) Component of personal outlays, found on table F.100, line 4.

(3) Government inventory investment is included in consumption expenditures.
14 Z.1, June 9, 2011

F.7 Distribution of National Income (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 National Income 11273.8 12031.2 12396.4 12557.8 12225.1 12821.6 12621.0 12782.6 12880.7 13002.2 13144.5 1

 2 Compensation of employees 7065.0 7477.0 7855.9 8060.8 7811.7 7984.5 7858.1 7969.9 8036.2 8073.9 8146.3 2

 3 Wages and other labor income 6632.6 7029.0 7402.2 7595.7 7346.1 7505.7 7387.2 7491.9 7554.0 7589.8 7651.2 3

 4 Employer social insurance contributions 427.5 446.7 459.9 470.1 460.6 478.8 470.9 478.0 482.2 484.2 495.2 4

 5 Wage accruals less disbursements 5.0 1.3 -6.3 -5.0 5.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments 1069.8 1133.0 1090.4 1102.0 1011.9 1055.0 1030.7 1049.7 1059.5 1080.2 1097.6 6

 7 Nonfarm 1025.9 1103.6 1052.6 1051.2 981.5 1010.1 994.0 1010.8 1011.0 1024.7 1040.3 7

 8 Farm 43.9 29.3 37.8 50.8 30.5 44.9 36.8 38.9 48.5 55.5 57.2 8

 Rental income of persons (with capital

 9 consumption adjustment) 178.2 146.5 143.7 222.0 274.0 300.9 292.7 298.8 303.8 308.4 325.2 9

 Corporate profits with inventory

10 valuation and capital consumption adjustments 1456.1 1608.3 1510.6 1262.8 1258.0 1624.8 1566.6 1614.1 1640.1 1678.3 1700.2 10

 Corporate profits with inventory

11 valuation adjustment 1609.5 1784.7 1691.1 1289.1 1328.6 1756.2 1736.5 1784.7 1809.3 1694.1 1806.2 11

12 Profits before tax 1640.2 1822.7 1738.4 1333.2 1316.7 1801.1 1772.9 1788.2 1845.7 1797.4 1911.2 12

13 Domestic nonfinancial 954.1 1115.1 1037.6 778.6 703.4 1026.0 1018.4 1034.1 1066.2 985.1 1113.7 13

14 Farm 3.0 2.8 4.4 3.4 3.0 3.4 3.3 3.4 3.5 3.5 3.6 14

15 Rest of the world 239.4 256.8 350.9 411.3 352.3 383.8 388.5 391.3 382.4 373.0 419.8 15

16 Domestic financial 443.6 448.0 345.5 139.9 258.0 387.9 362.7 359.4 393.7 435.8 374.1 16

 Less:

17 Taxes on corporate income 412.4 473.3 445.5 308.4 254.9 416.6 403.2 405.6 429.4 428.1 461.7 17

18 Domestic nonfinancial 271.0 306.9 293.0 225.7 169.7 281.1 264.2 286.4 292.5 281.2 312.7 18

19 Farm 0.9 0.7 0.8 0.7 0.7 1.1 1.0 1.0 1.1 1.1 1.1 19

20 Domestic financial 140.5 165.6 151.7 82.0 84.5 134.4 138.0 118.2 135.8 145.8 147.8 20

 Equals:

21 Profits after tax 1227.8 1349.5 1292.9 1024.8 1061.8 1384.5 1369.7 1382.6 1416.3 1369.3 1449.5 21

22 Net dividends 557.3 704.8 794.5 797.7 718.9 732.7 720.3 728.4 736.5 745.4 760.8 22

23 Domestic nonfinancial 168.0 465.8 480.4 479.8 508.9 518.7 513.0 496.6 536.2 529.1 496.0 23

24 Farm 2.9 5.3 4.2 3.0 2.5 2.5 2.5 2.5 2.6 2.6 2.7 24

25 Rest of the world 260.9 77.9 144.8 186.1 107.3 116.1 99.1 136.8 112.2 116.1 151.8 25

26 Domestic financial 125.6 155.7 165.2 128.8 100.2 95.3 105.7 92.5 85.5 97.7 110.3 26

27 Undistributed profits 670.5 644.7 498.4 227.2 342.9 651.8 649.4 654.2 679.9 623.9 688.7 27

28 Domestic nonfinancial 515.1 342.3 264.2 73.1 24.8 226.2 241.2 251.1 237.6 174.8 304.9 28

29 Farm -0.7 -3.2 -0.5 -0.3 -0.1 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 29

30 Rest of the world -21.4 178.9 206.1 225.1 245.0 267.7 289.4 254.5 270.2 256.9 267.9 30

31 Domestic financial 177.4 126.6 28.7 -70.8 73.2 158.1 119.0 148.8 172.3 192.3 116.0 31

32 Inventory valuation adjustment -30.7 -38.0 -47.2 -44.1 11.9 -44.9 -36.4 -3.5 -36.4 -103.2 -105.0 32

33 Capital consumption adjustment -153.4 -176.4 -180.5 -26.3 -70.6 -131.4 -169.9 -170.7 -169.3 -15.8 -105.9 33

34 Domestic nonfinancial -128.8 -156.0 -158.8 -14.4 -55.1 -110.3 -144.9 -145.4 -144.4 -6.5 -87.7 34

35 Farm 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Domestic financial -24.6 -20.4 -21.7 -12.0 -15.6 -21.1 -25.0 -25.2 -24.9 -9.3 -18.2 36

37 Net interest and miscellaneous payments 543.1 652.2 731.6 812.8 784.3 738.1 765.9 736.2 719.6 730.6 741.1 37

38 Taxes on production and imports 930.2 986.8 1027.2 1045.1 1024.7 1058.5 1045.9 1054.6 1060.8 1072.7 1075.5 38

39 Less: Subsidies 60.9 51.4 54.6 52.8 60.3 59.0 57.4 58.5 58.6 61.6 62.6 39

40 Business current transfer payments (net) 95.9 83.0 103.3 121.7 134.0 132.1 130.5 130.8 133.4 133.5 134.2 40

41 Current surplus of government enterprises -3.5 -4.2 -11.8 -16.7 -13.2 -13.3 -12.1 -13.1 -14.2 -13.7 -13.1 41

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

42 National Income, from line 1 above 11273.8 12031.2 12396.4 12557.8 12225.1 12821.6 12621.0 12782.6 12880.7 13002.2 13144.5 42

 Plus:

43 Private consumption of fixed capital 1290.8 1391.4 1476.2 1536.9 1535.8 1534.0 1522.8 1527.4 1535.5 1550.2 1566.7 43

44 Government consumption of fixed capital 250.6 269.3 291.3 312.3 325.3 334.9 329.6 333.0 336.4 340.5 346.3 44

45 Statistical discrepancy -79.7 -220.6 21.1 136.6 179.1 158.2 164.2 131.1 181.0 156.4 180.2 45

 Less:

46 Net U.S. income receipts from rest of the world 97.1 72.4 123.3 174.5 146.3 188.3 191.2 195.3 188.5 178.0 227.4 46

 Equals:

47 Gross Domestic Product 12638.4 13398.9 14061.8 14369.1 14119.0 14660.4 14446.4 14578.7 14745.1 14871.4 15010.3 47

(1) This table corresponds to NIPA table 1.12 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
Z.1, June 9, 2011 15

F.8 Saving and Investment by Sector (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 1903.4 2174.4 2013.6 1785.2 1533.8 1697.8 1621.5 1723.9 1731.4 1714.3 1704.8 1

 2 Net saving 362.0 513.7 246.1 -64.0 -327.4 -171.1 -230.9 -136.5 -140.5 -176.4 -208.3 2

 3 Net private saving 619.1 666.5 479.1 599.6 944.5 1129.5 1054.8 1184.3 1155.2 1123.7 1074.2 3

 4 Domestic business 486.4 430.3 270.7 156.7 284.2 475.5 443.0 480.1 474.2 504.8 477.8 4

 5 Nonfinancial corporate business 338.6 295.4 226.3 196.7 178.2 150.9 156.1 152.0 143.8 151.9 141.6 5

 6 Financial business 147.7 134.8 44.3 -40.0 106.0 324.6 287.0 328.0 330.4 352.9 336.2 6

 7 Households and institutions 132.7 236.2 208.4 442.9 660.3 654.0 611.8 704.3 681.0 618.9 596.5 7

 8 Net government saving -257.1 -152.7 -233.0 -663.6 -1271.9 -1300.5 -1285.7 -1320.8 -1295.6 -1300.1 -1282.5 8

 9 Federal -283.0 -203.8 -245.2 -616.2 -1251.7 -1333.5 -1314.2 -1336.5 -1343.4 -1339.7 -1288.4 9

10 State and local 25.9 51.0 12.2 -47.4 -20.1 32.9 28.6 15.8 47.7 39.6 6.0 10

11 Consumption of fixed capital 1541.4 1660.7 1767.5 1849.2 1861.1 1868.9 1852.4 1860.4 1871.9 1890.7 1913.0 11

12 Private 1290.8 1391.4 1476.2 1536.9 1535.8 1534.0 1522.8 1527.4 1535.5 1550.2 1566.7 12

13 Domestic business 1045.7 1123.3 1190.7 1244.5 1245.2 1241.5 1231.1 1236.9 1243.0 1254.9 1269.1 13

14 Nonfinancial corporate business (2) 743.0 800.9 840.1 878.8 879.0 876.2 868.2 872.9 877.5 886.2 897.1 14

15 Nonfinancial noncorporate business (3) 175.5 189.6 210.1 218.3 217.7 215.7 214.8 214.8 215.7 217.3 219.2 15

16 Financial business 127.3 132.8 140.6 147.4 148.5 149.6 148.1 149.1 149.8 151.4 152.9 16

17 Households and institutions 245.1 268.1 285.5 292.4 290.6 292.5 291.7 290.5 292.5 295.3 297.6 17

18 Government 250.6 269.3 291.3 312.3 325.3 334.9 329.6 333.0 336.4 340.5 346.3 18

19 Federal 100.4 106.6 112.6 119.8 124.3 129.7 127.3 128.8 130.2 132.3 135.3 19

20 State and local 150.1 162.7 178.7 192.6 200.9 205.2 202.3 204.2 206.1 208.2 211.0 20

 Gross domestic investment, capital account

21 transactions, and net lending, NIPAs 1823.7 1953.8 2034.8 1921.8 1712.9 1856.0 1785.7 1855.0 1912.4 1870.7 1885.0 21

22 Gross domestic investment 2564.2 2752.2 2751.7 2592.2 2092.6 2337.1 2230.7 2347.4 2426.4 2343.9 2382.6 22

23 Gross private domestic investment 2172.2 2327.2 2295.2 2096.7 1589.2 1827.5 1739.7 1841.8 1907.2 1821.3 1881.9 23

24 Domestic business 1391.2 1549.5 1633.3 1570.1 1176.5 1423.6 1337.2 1423.6 1512.9 1420.8 1484.1 24

25 Nonfinancial corporate business (2) 998.0 1138.9 1162.1 1112.2 813.3 1042.5 969.0 1040.5 1122.5 1037.9 1096.9 25

26 Nonfinancial noncorporate business (3) 238.0 248.0 283.7 274.7 216.5 230.8 223.7 234.3 236.5 228.6 231.0 26

27 Financial business 155.3 162.7 187.5 183.3 146.7 150.4 144.5 148.8 153.9 154.2 156.2 27

28 Households and institutions 781.0 777.7 661.9 526.6 412.7 403.9 402.6 418.2 394.3 400.5 397.8 28

29 Gross government investment 392.0 425.1 456.5 495.5 503.4 509.6 491.0 505.6 519.3 522.6 500.7 29

30 Federal 110.5 120.7 127.4 145.3 152.4 170.9 160.8 168.2 172.3 182.1 171.4 30

31 State and local 281.6 304.4 329.0 350.3 351.0 338.7 330.2 337.4 346.9 340.5 329.3 31

32 Capital account transactions (net) (4) -12.9 2.1 -0.1 -5.4 0.6 0.5 0.4 0.5 0.6 0.5 0.6 32

33 Private -32.6 19.0 -10.0 -70.9 -142.2 -84.6 -94.0 -126.6 -57.4 -60.6 -66.7 33

34 Domestic business -1.5 12.5 -1.7 -50.7 -125.0 -55.5 -72.7 -102.2 -29.0 -18.0 -21.5 34

35 Nonfinancial corporate business (2) -16.1 12.5 -1.7 13.1 3.0 -6.2 -5.3 -8.9 -6.1 -4.6 -6.5 35

36 Nonfinancial noncorporate business (3) -13.1 0.0 0.0 -3.3 -6.0 -7.8 -4.4 -16.1 -8.0 -2.6 -2.5 36

37 Financial business 27.7 0.0 0.0 -60.5 -121.9 -41.5 -63.0 -77.2 -14.9 -10.8 -12.5 37

38 Households and institutions -31.2 6.5 -8.3 -20.2 -17.3 -29.2 -21.3 -24.3 -28.4 -42.6 -45.2 38

39 Government 19.8 -17.0 10.0 65.4 142.8 85.1 94.4 127.1 57.9 61.1 67.3 39

40 Federal 59.3 29.3 55.0 113.5 196.8 137.2 135.9 176.1 117.0 119.9 114.6 40

41 State and local -39.5 -46.3 -45.1 -48.0 -54.0 -52.1 -41.5 -49.1 -59.1 -58.7 -47.3 41

42 Net lending (+) or net borrowing (-), NIPAs (5) -727.7 -800.5 -716.8 -665.0 -380.3 -481.7 -445.4 -493.0 -514.6 -473.7 -498.2 42

43 Private -309.4 -508.9 -308.7 247.3 1212.5 1078.7 1096.0 1127.5 1021.9 1069.6 1006.0 43

44 Domestic business 62.7 -229.0 -149.0 18.4 657.0 507.0 573.8 526.6 414.3 513.3 464.4 44

45 Nonfinancial corporate business (2) (5) 20.1 -275.5 -72.9 86.9 420.1 149.1 224.7 124.5 86.0 161.1 128.4 45

46 Nonfinancial noncorporate business (3) -49.4 -58.4 -73.6 -53.1 7.2 -7.4 -4.4 -3.4 -12.8 -8.7 -9.3 46

47 Financial business 92.0 104.9 -2.6 -15.4 229.7 365.3 353.5 405.5 341.1 360.9 345.3 47

48 Households and institutions -372.0 -279.9 -159.7 228.9 555.5 571.8 522.1 600.9 607.6 556.4 541.5 48

49 Government -418.3 -291.6 -408.1 -912.3 -1592.7 -1560.4 -1541.4 -1620.5 -1536.4 -1543.3 -1504.1 49

50 Federal -352.4 -247.2 -315.0 -755.2 -1476.6 -1511.9 -1483.6 -1552.1 -1502.5 -1509.4 -1439.2 50

51 State and local -66.0 -44.3 -93.1 -157.1 -116.1 -48.5 -57.7 -68.4 -34.0 -33.9 -65.0 51

52 Statistical discrepancy (line 21 less line 1) -79.7 -220.6 21.1 136.6 179.1 158.2 164.2 131.1 181.0 156.4 180.2 52

 Addenda:

53 Disaster losses 110.4 0.0 0.0 19.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 Private 99.2 0.0 0.0 19.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

55 Domestic business 48.8 0.0 0.0 10.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Households and institutions 50.4 0.0 0.0 8.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Government 11.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

58 Federal 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

59 State and local 10.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59

(1) This table is based on NIPA table 5.1 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov). It is consistent with the Integrated Macroeconomic Accounts of the

 United States jointly compiled by the Federal Reserve Board and the Bureau of Economic Analysis.

(2) Includes corporate farms.

(3) Includes noncorporate farms.

(4) Consists of net capital transfers shown on table F.9 and the acquisition of nonproduced nonfinancial assets (net) shown on table F.6.

(5) Differs from net lending or net borrowing (capital account) in the Integrated Macroeconomic Accounts of the United States by the statistical discrepancy (line 52).
16 Z.1, June 9, 2011

F.9 Net Capital Transfers (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Capital transfers paid, by sector 165.7 103.6 114.5 208.5 249.9 171.9 184.5 220.0 151.0 132.1 122.4 1

 2 By private business 28.9 0.0 0.0 7.6 0.0 0.2 0.0 0.2 0.5 0.1 0.0 2

 3 Financial corporations 28.9 0.0 0.0 7.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Disaster-related insurance benefits 28.9 0.0 0.0 7.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Nonfinancial corporations (disaster-related) 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.2 0.5 0.1 0.0 6

 7 Noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 By government 91.2 70.5 82.8 160.8 224.6 152.4 158.3 196.4 130.9 124.0 116.6 8

 9 Federal 84.8 70.5 82.8 160.8 224.6 152.4 158.3 196.4 130.9 124.0 116.6 9

10 Investment grants to state and local govts. 48.9 52.1 53.7 56.2 62.8 62.3 51.4 59.1 69.2 69.5 58.5 10

11 Disaster-related insurance benefits 17.3 0.0 0.0 2.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Financial stabilization payments 0.0 0.0 0.0 67.7 121.9 41.5 63.0 77.2 14.9 10.8 12.5 12

13 Other capital transfers paid to business 0.0 0.0 0.0 0.0 8.0 11.7 7.6 23.7 10.4 4.9 6.7 13

14 Other capital transfers paid to persons 15.9 16.4 28.7 33.3 31.3 36.4 35.8 35.8 35.8 38.3 38.4 14

15 Capital transfers paid to the rest of the world (net) 2.6 2.0 0.4 0.8 0.6 0.5 0.4 0.5 0.6 0.5 0.5 15

16 State and local 6.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Disaster-related insurance benefits 6.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 By persons 30.3 33.1 31.7 33.9 25.3 19.3 26.2 23.4 19.6 8.0 5.8 18

19 Estate and gift taxes, federal 25.0 27.8 26.5 28.2 20.7 15.5 22.2 19.6 15.8 4.2 2.0 19

20 Estate and gift taxes, state and local 5.3 5.3 5.3 5.7 4.6 3.9 4.0 3.9 3.8 3.8 3.8 20

21 By the rest of the world 15.4 0.0 0.0 6.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Disaster-related insurance benefits 15.4 0.0 0.0 6.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Capital transfers received, by sector 165.7 103.6 114.5 208.5 249.9 171.9 184.5 220.0 151.0 132.1 122.4 24

25 By private business 29.7 0.0 0.0 75.0 129.9 53.2 70.7 101.0 25.3 15.7 19.2 25

26 Financial corporations 1.1 0.0 0.0 68.1 121.9 41.5 63.0 77.2 14.9 10.8 12.5 26

27 Disaster-related insurance benefits 1.1 0.0 0.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Other 0.0 0.0 0.0 67.7 121.9 41.5 63.0 77.2 14.9 10.8 12.5 28

29 Nonfinancial corporations 15.5 0.0 0.0 3.6 2.0 3.9 3.2 7.6 2.5 2.3 4.3 29

30 Disaster-related insurance benefits 15.5 0.0 0.0 3.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Other 0.0 0.0 0.0 0.0 2.0 3.9 3.2 7.6 2.5 2.3 4.3 31

32 Noncorporate business 13.1 0.0 0.0 3.3 6.0 7.8 4.4 16.1 8.0 2.6 2.5 32

33 Disaster-related insurance benefits 13.1 0.0 0.0 3.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

34 Other 0.0 0.0 0.0 0.0 6.0 7.8 4.4 16.1 8.0 2.6 2.5 34

35 By government 81.2 85.2 85.4 90.1 88.1 81.8 77.6 82.7 89.3 77.6 64.3 35

36 Federal 25.0 27.8 26.5 28.2 20.7 15.5 22.2 19.6 15.8 4.2 2.0 36

37 Estate and gift taxes paid by persons 25.0 27.8 26.5 28.2 20.7 15.5 22.2 19.6 15.8 4.2 2.0 37

38 State and local 56.2 57.4 58.9 61.9 67.4 66.4 55.4 63.2 73.5 73.4 62.3 38

39 Disaster-related insurance benefits 2.1 0.0 0.0 0.0 0.0 0.2 0.0 0.2 0.5 0.1 0.0 39

40 Estate and gift taxes paid by persons 5.3 5.3 5.3 5.7 4.6 3.9 4.0 3.9 3.8 3.8 3.8 40

41 Investment grants paid by federal government 48.9 52.1 53.7 56.2 62.8 62.3 51.4 59.1 69.2 69.5 58.5 41

42 By persons 52.2 16.4 28.7 42.6 31.3 36.4 35.8 35.8 35.8 38.3 38.4 42

43 Disaster-related insurance benefits 36.3 0.0 0.0 9.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 Other 15.9 16.4 28.7 33.3 31.3 36.4 35.8 35.8 35.8 38.3 38.4 44

45 By the rest of the world 2.6 2.0 0.4 0.8 0.6 0.5 0.4 0.5 0.6 0.5 0.5 45

46 Capital transfers paid by U.S. government 2.6 2.0 0.4 0.8 0.6 0.5 0.4 0.5 0.6 0.5 0.5 46

47 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 Addenda: Net capital transfers paid by sector

48 By private business (lines 2-25) -0.9 -0.0 -0.0 -67.4 -129.9 -53.0 -70.7 -100.7 -24.8 -15.6 -19.2 48

49 Financial corporations (lines 3-26) 27.7 0.0 0.0 -60.5 -121.9 -41.5 -63.0 -77.2 -14.9 -10.8 -12.5 49

50 Property-casualty insurance companies (line 4) 28.9 0.0 0.0 7.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

51 U.S.-chartered commercial banks -1.1 0.0 0.0 -29.7 -18.2 2.4 6.9 -1.2 4.3 -0.4 13.5 51

52 Financial stabilization payments (2) 0.0 0.0 0.0 -29.3 -18.2 2.4 6.9 -1.2 4.3 -0.4 13.5 52

53 Other (lines 5-27) -1.1 0.0 0.0 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 Bank holding companies (GMAC) (2) 0.0 0.0 0.0 -3.2 -11.3 -1.5 0.0 0.0 -6.0 0.0 0.0 54

55 Government-sponsored enterprises (2) 0.0 0.0 0.0 -6.9 -87.1 -40.2 -61.2 -76.0 -13.2 -10.4 -12.4 55

56 Funding corporations (AIG) (2) 0.0 0.0 0.0 -28.3 -5.3 -2.2 -8.7 0.0 0.0 0.0 -13.6 56

57 Nonfinancial corporations (lines 6-29) -15.5 -0.0 -0.0 -3.6 -2.0 -3.7 -3.2 -7.4 -2.0 -2.2 -4.3 57

58 Noncorporate business (lines 7-32) -13.1 0.0 0.0 -3.3 -6.0 -7.8 -4.4 -16.1 -8.0 -2.6 -2.5 58

59 By government (lines 8-35) 10.0 -14.7 -2.6 70.7 136.5 70.6 80.7 113.6 41.6 46.3 52.4 59

60 Federal (lines 9-36) 59.8 42.7 56.3 132.6 203.8 136.9 136.1 176.8 115.1 119.8 114.6 60

61 State and local (lines 16-38) -49.8 -57.4 -58.9 -61.9 -67.4 -66.4 -55.4 -63.2 -73.5 -73.4 -62.3 61

62 By persons (lines 18-42) -21.9 16.8 3.0 -8.7 -6.0 -17.1 -9.6 -12.4 -16.2 -30.2 -32.6 62

63 By the rest of the world (lines 21-45) 12.8 -2.0 -0.4 5.4 -0.6 -0.5 -0.4 -0.5 -0.6 -0.5 -0.5 63

(1) This table is based on NIPA table 5.10 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).

(2) Sum of lines 52, 54, 55, and 56 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Flow of Funds Accounts.
Z.1, June 9, 2011 17

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 1209.2 1231.1 1526.5 724.4 -60.4 447.9 -138.4 609.4 91.8 1229.0 401.9 1

 2 Foreign deposits 2.4 5.2 15.4 -24.1 -10.3 5.1 2.1 10.0 2.9 5.3 2.7 2

 3 Checkable deposits and currency -50.5 30.9 -5.0 240.5 49.5 -128.5 -352.4 -109.3 -66.8 14.6 109.3 3

 4 Time and savings deposits 510.5 506.8 492.1 193.0 100.5 230.7 324.6 201.1 159.1 237.9 20.5 4

 5 Money market fund shares 47.6 168.4 234.4 236.2 -289.4 -150.5 -227.0 -75.1 -110.4 -189.5 345.6 5

 6 Securities 14.4 -310.8 -113.8 -159.4 228.0 343.1 54.9 523.8 -82.5 876.4 -199.3 6

 7 Open market paper 14.7 19.0 -10.2 -101.3 28.7 28.8 39.8 38.5 35.4 1.7 17.7 7

 8 U.S. savings bonds 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -3.8 -2.8 -2.4 -4.2 -4.4 8

 9 Other Treasury securities -97.3 -90.2 -34.5 151.8 389.2 339.1 124.5 986.0 -72.7 318.7 -1133.2 9

10 Agency- and GSE-backed securities 97.0 -66.4 334.3 95.6 -620.2 4.0 -138.0 -56.1 -47.0 257.1 373.9 10

11 Municipal securities 78.7 52.1 23.5 7.4 105.5 73.9 152.4 -52.4 42.6 153.2 3.5 11

12 Corporate and foreign bonds 119.6 196.9 218.3 -213.3 -146.7 -331.9 -538.5 -469.8 -509.2 190.1 -218.6 12

13 Corporate equities (2) -372.5 -585.0 -847.9 -112.4 111.2 -89.9 -16.0 138.3 -64.8 -417.3 -141.1 13

14 Mutual fund shares 173.5 165.4 208.5 15.2 363.1 322.3 434.7 -58.0 535.5 377.0 902.8 14

15 Life insurance reserves 16.1 65.6 34.2 67.0 26.5 17.2 0.9 13.8 49.0 5.3 34.8 15

16 Pension fund reserves 275.4 250.6 200.8 112.7 111.6 187.7 168.1 118.7 184.7 279.2 94.5 16

17 Miscellaneous and other assets 393.2 514.3 668.5 58.6 -276.8 -56.9 -109.7 -73.6 -44.2 -0.3 -6.3 17

18 Gross investment in nonfinancial assets 2037.9 2067.3 2010.0 1801.5 1576.4 1639.8 1605.0 1643.5 1634.3 1676.3 1697.5 18

19 Residential fixed investment 768.3 755.2 622.2 466.9 347.8 336.5 336.0 353.0 326.0 330.8 329.6 19

20 Nonresidential fixed investment 248.1 270.2 322.4 335.2 285.0 289.9 281.0 288.6 293.2 296.8 298.0 20

21 Consumer durables 1028.2 1051.9 1075.8 1011.7 958.5 1017.2 990.4 1002.9 1015.7 1059.6 1081.3 21

22 Nonproduced nonfinancial assets -9.2 -10.2 -11.3 -11.5 -11.3 -12.0 -11.7 -11.9 -12.2 -12.4 -12.6 22

23 Inventories 2.6 0.3 0.9 -0.9 -3.6 8.3 9.2 10.9 11.5 1.6 1.1 23

24 Consumption of fixed capital 1208.9 1281.0 1352.4 1393.9 1404.0 1388.2 1383.3 1383.7 1389.7 1396.3 1404.6 24

25 Residential fixed investment 236.8 258.9 269.8 272.1 265.8 265.5 263.6 264.4 265.8 268.3 271.2 25

26 Nonresidential fixed investment 182.9 197.9 225.7 238.5 242.5 243.2 243.5 241.5 243.0 244.9 246.2 26

27 Consumer durables 789.2 824.2 856.9 883.2 895.7 879.5 876.1 877.7 880.9 883.1 887.2 27

28 Net investment in nonfinancial assets (3) 829.0 786.3 657.6 407.5 172.3 251.5 221.7 259.8 244.6 280.0 292.9 28

29 Residential fixed investment 531.6 496.3 352.4 194.8 81.9 70.9 72.4 88.6 60.3 62.5 58.4 29

30 Nonresidential fixed investment 65.1 72.3 96.7 96.7 42.5 46.7 37.5 47.1 50.2 51.9 51.8 30

31 Consumer durables 239.0 227.6 218.9 128.4 62.7 137.7 114.3 125.2 134.8 176.5 194.1 31

32 Nonproduced nonfinancial assets -9.2 -10.2 -11.3 -11.5 -11.3 -12.0 -11.7 -11.9 -12.2 -12.4 -12.6 32

33 Inventories 2.6 0.3 0.9 -0.9 -3.6 8.3 9.2 10.9 11.5 1.6 1.1 33

34 Net increase in liabilities 1702.2 1839.9 1500.1 342.1 -418.8 -325.4 -623.5 -386.9 -376.0 84.9 -117.5 34

35 Mortgage debt on nonfarm homes 1106.6 1063.4 707.6 -96.3 -195.5 -322.5 -585.5 -278.0 -298.2 -128.2 -361.2 35

36 Other mortgage debt 119.2 230.2 288.9 244.4 -63.6 -105.9 -106.3 -130.7 -108.7 -77.9 -28.5 36

37 Consumer credit 100.4 95.4 139.3 38.8 -115.3 -44.2 -101.5 -75.7 -47.1 47.7 58.5 37

38 Policy loans 0.8 3.3 3.6 5.9 0.7 3.4 2.5 2.8 4.6 3.8 1.2 38

39 Security credit -31.6 59.7 33.4 -160.7 38.1 75.2 -26.4 82.5 66.7 178.0 150.2 39

40 Other liabilities 406.8 387.9 327.3 310.0 -83.3 68.6 193.8 12.2 6.8 61.5 62.3 40

41 Net capital transfers paid (4) -35.0 16.8 3.0 -12.0 -12.0 -24.9 -14.0 -28.5 -24.2 -32.8 -35.1 41

42 Personal saving, FOF concept (FOF) 301.0 194.2 687.0 777.9 518.7 1000.0 692.8 1227.6 688.2 1391.2 777.2 42

43 - Net investment in consumer durables 239.0 227.6 218.9 128.4 62.7 137.7 114.3 125.2 134.8 176.5 194.1 43

44 - Government insurance and pension fund reserves (5) 0.7 0.1 0.1 -0.6 0.5 -1.7 -4.0 -0.8 -2.0 -0.2 -2.8 44

45 = Personal saving, NIPA concept (FOF) (6) 61.4 -33.6 468.0 650.1 455.5 864.0 582.5 1103.2 555.4 1214.9 585.9 45

46 Personal saving, NIPA concept (NIPA) 127.7 235.0 214.7 447.9 655.3 654.0 611.8 704.3 681.0 618.9 596.5 46

47 Difference -66.4 -268.5 253.3 202.2 -199.8 210.0 -29.2 399.0 -125.6 596.0 -10.6 47

 Memo:

48 Disposable personal income 9277.3 9915.7 10423.6 10952.9 11034.9 11374.7 11215.6 11368.0 11417.3 11497.8 11628.6 48

 Personal saving as a percentage of disposable personal income:

49 FOF concept (FOF data) (line 42) 3.2 2.0 6.6 7.1 4.7 8.8 6.2 10.8 6.0 12.1 6.7 49

50 NIPA concept (FOF data) (line 45) 0.7 -0.3 4.5 5.9 4.1 7.6 5.2 9.7 4.9 10.6 5.0 50

51 NIPA concept (NIPA data) (line 46) 1.4 2.4 2.1 4.1 5.9 5.7 5.5 6.2 6.0 5.4 5.1 51

52 Difference (line 47) -0.7 -2.7 2.4 1.8 -1.8 1.8 -0.3 3.5 -1.1 5.2 -0.1 52

(1) Consolidated statement for households and nonprofit organizations, nonfarm nonfinancial noncorporate business, and noncorporate farm business.

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

(3) Line 18 less line 24.

(4) Table F.9, line 58 plus line 62.

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

(6) Line 45 and 46 are conceptually equivalent but measure saving using different data. Line 45 is net acquisition of financial assets net of government insurance and pension fund reserves (line 1 less line 44) plus

 net investment in nonfinancial assets net of consumer durables (line 28 less line 43) less net increase in liabilities (line 34) plus net capital transfers paid (line 41). Line 46 is disposable personal income (line 48) less

 personal outlays (table F.100, line 4).
18 Z.1, June 9, 2011

F.100 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Personal income 10485.9 11268.1 11912.3 12391.1 12174.9 12541.0 12350.3 12517.1 12595.5 12700.9 12930.9 1

 2 - Personal current taxes 1208.6 1352.4 1488.7 1438.2 1140.0 1166.3 1134.7 1149.1 1178.2 1203.2 1302.3 2

 3 = Disposable personal income 9277.3 9915.7 10423.6 10952.9 11034.9 11374.7 11215.6 11368.0 11417.3 11497.8 11628.6 3

 4 - Personal outlays 9149.6 9680.7 10208.9 10505.0 10379.6 10720.7 10603.9 10663.7 10736.3 10878.9 11032.1 4

 5 = Personal saving, NIPA (2) 127.7 235.0 214.7 447.9 655.3 654.0 611.8 704.3 681.0 618.9 596.5 5

 6 + Government insurance and pension reserves (3) 0.7 0.1 0.1 -0.6 0.5 -1.7 -4.0 -0.8 -2.0 -0.2 -2.8 6

 7 + Net investment in consumer durables 239.0 227.6 218.9 128.4 62.7 137.7 114.3 125.2 134.8 176.5 194.1 7

 8 + Consumption of fixed capital 1037.2 1095.7 1142.3 1175.7 1186.3 1172.0 1167.8 1168.3 1173.4 1178.4 1184.8 8

 9 - Net capital transfers paid (4) -21.9 16.8 3.0 -8.7 -6.0 -17.1 -9.6 -12.4 -16.2 -30.2 -32.6 9

10 = Gross saving less net capital transfers paid 1426.5 1541.7 1573.0 1760.1 1910.8 1979.0 1899.5 2009.3 2003.4 2003.9 2005.2 10

11 Gross investment 1360.2 1273.2 1826.3 1962.3 1711.1 2189.1 1870.2 2408.3 1877.8 2599.9 1994.6 11

12 Capital expenditures 1799.9 1819.3 1726.3 1526.8 1359.8 1409.0 1381.3 1409.1 1397.8 1447.7 1466.5 12

13 Residential 681.9 670.1 541.7 397.2 293.8 283.4 283.2 297.9 274.3 278.4 277.3 13

14 Consumer durable goods 1028.2 1051.9 1075.8 1011.7 958.5 1017.2 990.4 1002.9 1015.7 1059.6 1081.3 14

15 Nonprofit nonresidential 99.1 107.5 120.2 129.4 118.9 120.4 119.4 120.3 120.0 122.1 120.5 15

16 Nonproduced nonfinancial assets -9.2 -10.2 -11.3 -11.5 -11.3 -12.0 -11.7 -11.9 -12.2 -12.4 -12.6 16

17 Net lending (+) or net borrowing (-) -439.8 -546.1 100.0 435.5 351.2 780.1 488.9 999.2 480.0 1152.2 528.1 17

18 Net acquisition of financial assets 717.1 707.1 1011.5 326.8 162.8 613.3 84.1 810.0 278.7 1280.4 421.9 18

19 Foreign deposits 2.4 5.2 15.4 -24.1 -10.3 5.1 2.1 10.0 2.9 5.3 2.7 19

20 Checkable deposits and currency -127.2 -43.8 -71.8 236.8 88.0 -106.5 -323.5 -84.0 -43.4 24.9 115.0 20

21 Time and savings deposits 487.1 486.5 477.2 194.3 128.4 246.7 345.6 219.5 176.2 245.7 24.9 21

22 Money market fund shares 45.2 165.2 232.2 235.1 -283.5 -147.1 -222.6 -71.2 -106.8 -187.8 346.5 22

23 Credit market instruments 218.1 90.4 519.2 -40.2 -256.5 102.6 -366.3 433.5 -562.4 905.4 -968.0 23

24 Open market paper 14.7 19.0 -10.2 -101.3 28.7 28.8 39.8 38.5 35.4 1.7 17.7 24

25 Treasury securities -102.6 -93.1 -43.5 157.0 390.5 338.2 123.7 985.9 -72.6 315.7 -1137.0 25

26 Savings bonds 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -3.8 -2.8 -2.4 -4.2 -4.4 26

27 Other -103.3 -90.3 -37.5 159.4 393.3 341.5 127.5 988.7 -70.2 319.9 -1132.6 27

28 Agency- and GSE-backed securities 97.0 -66.4 334.3 95.6 -620.2 4.0 -138.0 -56.1 -47.0 257.1 373.9 28

29 Municipal securities 78.6 50.8 24.0 7.8 105.8 74.2 152.7 -52.1 42.8 153.3 3.6 29

30 Corporate and foreign bonds 119.6 196.9 218.3 -213.3 -146.7 -331.9 -538.5 -469.8 -509.2 190.1 -218.6 30

31 Other loans and advances (5) 2.7 0.4 8.5 12.2 -5.3 0.1 0.1 0.1 0.1 0.1 0.0 31

32 Mortgages 8.1 -17.3 -12.3 2.0 -9.3 -10.9 -6.0 -13.0 -11.9 -12.5 -7.8 32

33 Corporate equities (6) -372.5 -585.0 -847.9 -112.4 111.2 -89.9 -16.0 138.3 -64.8 -417.3 -141.1 33

34 Mutual fund shares 173.5 165.4 208.5 15.2 363.1 322.3 434.7 -58.0 535.5 377.0 902.8 34

35 Security credit -3.0 80.4 210.8 -123.8 -74.1 25.7 45.7 23.9 43.2 -10.1 36.0 35

36 Life insurance reserves 16.1 65.6 34.2 67.0 26.5 17.2 0.9 13.8 49.0 5.3 34.8 36

37 Pension fund reserves 275.4 250.6 200.8 112.7 111.6 187.7 168.1 118.7 184.7 279.2 94.5 37

38 Equity in noncorporate business -56.0 -11.0 -33.2 -289.0 -62.7 5.7 10.3 23.9 10.4 -21.8 -35.8 38

39 Miscellaneous assets 58.0 37.4 66.1 55.2 21.1 43.8 5.2 41.6 54.2 74.5 9.5 39

40 Net increase in liabilities 1156.9 1253.2 911.5 -108.7 -188.4 -166.8 -404.8 -189.2 -201.3 128.2 -106.2 40

41 Credit market instruments 1174.5 1179.5 862.4 33.1 -232.6 -262.7 -408.9 -295.3 -270.6 -76.1 -270.9 41

42 Home mortgages (7) 1039.0 989.3 673.6 -49.4 -153.7 -285.6 -534.4 -229.3 -268.4 -110.2 -341.4 42

43 Consumer credit 100.4 95.4 139.3 38.8 -115.3 -44.2 -101.5 -75.7 -47.1 47.7 58.5 43

44 Municipal securities 16.0 18.9 17.1 8.1 14.9 4.0 13.6 -6.1 4.7 4.0 6.5 44

45 Bank loans n.e.c. (8) 9.7 49.9 13.4 18.0 30.0 76.5 224.2 32.4 52.7 -3.3 10.6 45

46 Other loans and advances 0.0 4.8 3.2 6.2 0.5 2.4 2.2 1.7 4.5 1.3 0.9 46

47 Commercial mortgages 9.2 21.2 15.8 11.5 -9.1 -15.9 -13.0 -18.3 -17.0 -15.6 -6.0 47

48 Security credit -31.6 59.7 33.4 -160.7 38.1 75.2 -26.4 82.5 66.7 178.0 150.2 48

49 Trade payables 13.0 13.6 14.6 15.7 10.9 18.1 20.4 20.0 14.4 17.6 12.8 49

 Deferred and unpaid

50 life insurance premiums 1.0 0.5 1.0 3.2 -4.9 2.7 10.1 3.6 -11.8 8.7 1.7 50

51 Discrepancy 66.4 268.5 -253.3 -202.2 199.8 -210.0 29.2 -399.0 125.6 -596.0 10.6 51

(1) Sector includes farm households and domestic hedge funds. 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 62.

(5) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(6) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 34) and life insurance and pension reserves (lines 36 and 37).

(7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 22.

(8) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.108, line 17.
Z.1, June 9, 2011 19

F.101 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Income before taxes 2084.2 2311.2 2203.6 1971.8 1819.4 2195.3 2160.3 2197.4 2241.2 2182.4 2334.5 1

 2 Gross saving less net capital transfers paid 1280.2 1279.0 1276.8 1300.2 1282.5 1389.3 1382.8 1417.7 1377.0 1379.9 1450.9 2

 3 Gross investment 1158.9 1193.7 1171.0 399.8 1732.0 1451.8 1404.9 1500.1 1580.5 1321.7 1322.6 3

 4 Capital expenditures 1232.9 1395.8 1453.4 1403.5 1034.9 1266.1 1184.4 1270.3 1347.1 1262.4 1324.0 4

 5 Fixed investment 1183.6 1323.3 1425.9 1427.9 1157.2 1196.9 1136.4 1191.4 1212.7 1247.0 1262.9 5

 6 Residential 90.6 88.2 96.2 75.2 58.4 52.3 50.8 56.4 47.7 54.5 54.3 6

 7 Nonresidential 1093.0 1235.1 1329.8 1352.7 1098.8 1144.5 1085.7 1135.1 1164.9 1192.5 1208.6 7

 8 Change in inventories 50.0 60.0 29.1 -41.1 -127.2 71.7 50.0 80.4 138.6 17.8 63.4 8

 9 Nonproduced nonfinancial assets -0.6 12.5 -1.7 16.7 5.0 -2.5 -2.0 -1.5 -4.1 -2.4 -2.3 9

10 Net lending (+) or net borrowing (-) -74.0 -202.1 -282.4 -1003.6 697.1 185.7 220.5 229.8 233.4 59.3 -1.4 10

11 Net acquisition of financial assets 1381.9 1219.8 1551.7 -513.9 274.1 625.2 432.3 545.6 816.7 706.4 576.9 11

12 Foreign deposits 9.9 -14.2 0.9 -25.5 6.9 40.5 26.4 43.6 42.1 49.8 -10.7 12

13 Checkable deposits and currency 150.5 -41.6 58.4 -104.9 98.0 219.9 278.9 136.7 209.1 255.0 83.1 13

14 Time and savings deposits 73.4 66.9 -40.7 -60.7 81.4 -33.4 -144.6 -98.7 115.9 -6.0 128.6 14

15 Money market fund shares 42.0 71.3 130.2 159.3 -62.4 -132.0 -315.8 -179.6 -13.9 -18.7 -81.4 15

16 Security RPs 8.1 1.0 -7.5 -0.9 0.8 5.7 5.6 1.0 -8.7 25.0 -11.3 16

17 Credit market instruments 53.8 -11.7 -69.1 -43.0 -1.1 12.4 88.9 -29.4 68.1 -77.9 59.0 17

18 Commercial paper 16.0 11.7 -53.2 -12.2 -0.4 16.4 48.3 -11.3 50.1 -21.5 21.7 18

19 Treasury securities 24.1 -6.5 -4.1 -15.4 4.6 -2.5 21.5 6.6 -0.1 -38.2 38.5 19

20 Agency- and GSE-backed securities 6.0 -2.2 -2.4 -2.6 2.9 -0.1 8.2 3.1 0.8 -12.3 13.1 20

21 Municipal securities 0.4 -2.7 0.6 -3.4 0.7 -3.8 -5.1 -11.1 4.4 -3.5 10.9 21

22 Mortgages 7.0 -10.0 -11.0 -10.7 -6.4 -5.1 -5.6 -5.3 -5.2 -4.2 -3.8 22

23 Consumer credit 0.4 -2.0 1.0 1.2 -2.6 7.5 21.6 -11.5 18.2 1.7 -21.4 23

24 Mutual fund shares 1.5 24.9 0.2 -6.1 40.4 16.7 16.7 16.7 16.7 16.7 16.7 24

25 Trade receivables 344.2 21.7 217.8 -174.9 -7.3 110.3 -1.3 148.2 127.9 166.3 161.4 25

26 Miscellaneous assets 698.5 1101.5 1261.5 -257.1 117.3 385.1 477.6 507.0 259.5 296.2 231.6 26

27 Net increase in liabilities 1456.0 1421.9 1834.1 489.7 -423.0 439.5 211.8 315.8 583.3 647.1 578.3 27

28 Credit market instruments 671.5 895.6 1222.4 578.3 -298.0 35.7 -47.2 -138.7 123.1 205.4 435.1 28

29 Commercial paper -7.7 22.4 11.3 7.7 -73.1 24.5 50.3 62.7 43.8 -58.7 31.7 29

30 Municipal securities 7.6 5.4 8.1 2.7 5.5 8.3 6.0 -0.4 13.1 14.2 2.9 30

31 Corporate bonds 56.7 215.6 311.2 204.6 377.2 419.9 432.4 231.6 510.8 504.6 377.5 31

32 Bank loans n.e.c. 124.8 125.4 226.8 174.6 -326.1 -109.5 -231.9 -84.5 -143.0 21.4 138.8 32

33 Other loans and advances 118.7 154.5 307.2 67.9 -155.6 -101.5 -125.7 -101.7 -92.0 -86.8 -26.5 33

34 Mortgages 371.5 372.3 357.9 120.9 -126.0 -205.9 -178.3 -246.4 -209.5 -189.5 -89.3 34

35 Corporate equities -341.8 -565.7 -786.8 -336.0 -64.6 -279.2 -200.2 -215.2 -338.4 -363.1 -331.9 35

36 Trade payables 248.7 123.4 111.1 -217.2 -119.3 169.1 245.9 140.5 165.8 124.3 233.8 36

37 Taxes payable 6.9 8.2 -45.8 9.8 -11.1 -0.9 12.8 -22.4 8.7 -2.8 12.9 37

38 Miscellaneous liabilities 925.5 964.6 1368.8 755.3 129.0 511.3 189.6 536.9 609.0 709.7 251.9 38

39 Proprietors’ net investment -54.7 -4.2 -35.6 -300.5 -59.0 3.6 10.9 14.7 15.1 -26.4 -23.5 39

40 Discrepancy 140.2 114.2 108.6 899.8 -447.1 -40.6 -8.2 -61.3 -180.7 87.9 159.7 40

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
20 Z.1, June 9, 2011

F.102 Nonfarm Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Profits before tax (book) 954.1 1115.1 1037.6 778.6 703.4 1026.0 1018.4 1034.1 1066.2 985.1 1113.7 1

 2 - Taxes on corporate income 271.0 306.9 293.0 225.7 169.7 281.1 264.2 286.4 292.5 281.2 312.7 2

 3 - Net dividends 168.0 465.8 480.4 479.8 508.9 518.7 513.0 496.6 536.2 529.1 496.0 3

 4 + Capital consumption allowance (1) 606.1 635.7 673.0 853.6 812.0 753.1 710.5 714.6 720.1 867.3 796.8 4

 5 = U.S. internal funds, book 1121.3 978.0 937.1 926.8 836.7 979.3 951.8 965.8 957.7 1042.1 1101.8 5

 6 + Foreign earnings retained abroad -17.5 148.9 168.5 182.9 197.9 216.8 234.0 206.2 219.1 208.0 217.2 6

 7 + Inventory valuation adjustment (IVA) -30.7 -38.0 -47.2 -44.1 11.9 -44.9 -36.4 -3.5 -36.4 -103.2 -105.0 7

 8 - Net capital transfers paid (2) -15.5 -0.0 -0.0 -3.6 -2.0 -3.7 -3.2 -7.4 -2.0 -2.2 -4.3 8

 9 = Total internal funds + IVA 1088.6 1088.8 1058.4 1069.2 1048.5 1155.0 1152.5 1175.9 1142.4 1149.1 1218.3 9

10 Gross investment 948.4 974.6 949.9 169.4 1495.6 1195.5 1160.8 1237.1 1323.1 1061.1 1058.5 10

11 Capital expenditures 965.8 1112.8 1156.5 1112.7 803.9 1003.7 936.8 1004.7 1077.7 995.6 1052.9 11

12 Fixed investment (3) 919.1 1039.9 1129.8 1136.6 923.5 944.3 900.1 938.9 956.2 982.0 992.3 12

13 Inventory change + IVA 47.3 60.4 28.3 -40.6 -124.5 61.9 38.6 67.3 125.6 16.1 62.9 13

14 Nonproduced nonfinancial assets -0.6 12.5 -1.7 16.7 5.0 -2.5 -2.0 -1.5 -4.1 -2.4 -2.3 14

15 Net lending (+) or net borrowing (-) -17.5 -138.2 -206.6 -943.3 691.7 191.8 224.0 232.4 245.4 65.5 5.7 15

16 Net acquisition of financial assets 943.7 698.3 1070.6 -612.6 555.0 786.5 643.3 730.7 987.7 784.2 620.3 16

17 Foreign deposits 9.9 -14.2 0.9 -25.5 6.9 40.5 26.4 43.6 42.1 49.8 -10.7 17

18 Checkable deposits and currency 73.6 -116.9 -9.0 -109.2 136.0 241.7 307.5 161.7 232.2 265.3 88.7 18

19 Time and savings deposits 49.9 46.6 -55.7 -59.4 109.3 -17.3 -123.7 -80.3 133.0 1.8 133.1 19

20 Money market fund shares 39.6 68.1 128.1 158.2 -56.5 -128.6 -311.4 -175.7 -10.3 -17.0 -80.5 20

21 Security RPs 8.1 1.0 -7.5 -0.9 0.8 5.7 5.6 1.0 -8.7 25.0 -11.3 21

22 Credit market instruments 42.4 -11.6 -79.1 -32.2 6.4 16.7 94.5 -24.5 72.7 -75.8 60.2 22

23 Commercial paper 16.0 11.7 -53.2 -12.2 -0.4 16.4 48.3 -11.3 50.1 -21.5 21.7 23

24 Treasury securities 18.1 -6.7 -7.1 -7.9 8.7 -0.2 24.5 9.3 2.3 -37.0 39.2 24

25 Agency- and GSE-backed securities 6.0 -2.2 -2.4 -2.6 2.9 -0.1 8.2 3.1 0.8 -12.3 13.1 25

26 Municipal securities 0.3 -4.0 1.1 -3.0 1.1 -3.6 -4.8 -10.8 4.7 -3.4 11.0 26

27 Mortgages 1.7 -8.4 -18.4 -7.7 -3.3 -3.3 -3.3 -3.3 -3.3 -3.3 -3.3 27

28 Consumer credit 0.4 -2.0 1.0 1.2 -2.6 7.5 21.6 -11.5 18.2 1.7 -21.4 28

29 Mutual fund shares 1.5 24.9 0.2 -6.1 40.4 16.7 16.7 16.7 16.7 16.7 16.7 29

30 Trade receivables 277.6 -18.3 163.1 -172.0 33.6 133.7 29.3 175.1 152.7 177.8 167.8 30

31 Miscellaneous assets 441.2 718.6 929.6 -365.6 278.0 477.3 598.4 612.9 357.3 340.7 256.3 31

32 U.S. direct investment abroad (4) 24.7 219.2 307.0 276.2 249.9 304.2 389.4 241.0 263.6 322.9 264.8 32

33 Insurance receivables 20.7 6.6 7.4 9.9 -1.8 2.5 -1.4 10.5 7.0 -6.1 -0.8 33

34 Equity in GSEs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Investment in finance co. subs. 64.4 22.9 -54.8 -1.1 -9.3 20.3 98.8 -5.3 -1.4 -10.9 -62.0 35

36 Other 331.4 469.9 670.1 -650.6 39.2 150.3 111.6 366.6 88.1 34.8 54.4 36

37 Net increase in liabilities 961.2 836.5 1277.3 330.7 -136.7 594.6 419.3 498.2 742.3 718.7 614.6 37

38 Net funds raised in markets -19.2 -92.9 -33.7 -83.4 -60.9 -49.0 118.1 -94.6 -76.7 -142.7 181.0 38

39 Net new equity issues -341.8 -565.7 -786.8 -336.0 -64.6 -279.2 -200.2 -215.2 -338.4 -363.1 -331.9 39

40 Credit market instruments 322.6 472.8 753.1 252.6 3.7 230.2 318.3 120.5 261.6 220.4 512.9 40

41 Commercial paper -7.7 22.4 11.3 7.7 -73.1 24.5 50.3 62.7 43.8 -58.7 31.7 41

42 Municipal securities (5) 7.6 5.4 8.1 2.7 5.5 8.3 6.0 -0.4 13.1 14.2 2.9 42

43 Corporate bonds (4) 56.7 215.6 311.2 204.6 377.2 419.9 432.4 231.6 510.8 504.6 377.5 43

44 Bank loans n.e.c. -33.9 9.2 85.1 53.7 -130.6 -32.1 -26.1 11.1 -81.0 -32.4 107.8 44

45 Other loans and advances (6) 108.5 132.5 288.5 54.8 -144.1 -111.2 -110.1 -98.9 -136.5 -99.2 39.4 45

46 Mortgages 191.5 87.7 48.9 -70.9 -31.3 -79.1 -34.2 -85.7 -88.4 -108.3 -46.4 46

47 Trade payables 199.4 110.3 85.9 -229.9 -89.9 197.7 270.2 161.7 211.2 147.5 217.7 47

48 Taxes payable -1.8 -0.8 -49.6 3.1 -3.3 3.5 18.6 -17.3 13.4 -0.6 14.2 48

49 Miscellaneous liabilities 782.8 819.8 1274.7 640.9 17.4 442.4 12.3 448.4 594.4 714.5 201.8 49

50 Foreign direct investment in U.S. 98.7 191.0 287.0 234.9 100.7 167.5 163.7 72.1 237.1 197.1 199.4 50

51 Pension fund contributions payable -1.9 -2.0 4.4 0.7 2.5 -1.2 -2.2 -1.3 -0.8 -0.6 -0.4 51

52 Other 686.0 630.8 983.2 405.3 -85.8 276.2 -149.2 377.7 358.2 518.0 2.8 52

53 Discrepancy 140.2 114.2 108.6 899.8 -447.1 -40.6 -8.2 -61.3 -180.7 87.9 159.7 53

 Memo:

54 Financing gap (7) -124.7 172.8 266.6 230.0 -44.7 69.2 21.4 42.4 156.4 56.8 56.1 54

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

(2) Table F.9, line 57.

(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) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table F.216.

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
Z.1, June 9, 2011 21

F.103 Nonfarm Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving = consumption of fixed capital 149.7 162.0 186.0 193.0 192.2 190.7 190.1 190.0 190.7 192.1 193.7 1

 2 Gross saving less net capital transfers paid (1) 162.7 162.0 186.0 196.3 198.1 198.5 194.5 206.1 198.7 194.7 196.2 2

 3 Gross investment 162.7 162.0 186.0 196.3 198.1 198.5 194.5 206.1 198.7 194.7 196.2 3

 4 Capital expenditures 230.7 251.4 260.5 246.0 190.2 215.9 200.5 216.4 222.4 224.4 231.6 4

 5 Fixed investment (2) 228.2 248.3 259.0 248.2 196.8 212.7 198.5 212.9 215.8 223.5 228.3 5

 6 Change in inventories 2.5 3.2 1.5 -2.1 -6.6 3.3 2.0 3.5 6.6 0.8 3.3 6

 7 Net lending (+) or net borrowing (-) -68.0 -89.5 -74.5 -49.7 7.9 -17.4 -6.0 -10.3 -23.7 -29.7 -35.5 7

 8 Net acquisition of financial assets 436.2 515.3 475.9 95.9 -283.4 -162.9 -212.6 -186.7 -172.6 -79.5 -45.0 8

 9 Checkable deposits and currency 76.3 73.1 65.7 3.3 -38.9 -22.3 -29.2 -25.6 -23.7 -10.9 -6.2 9

10 Time and savings deposits 23.5 20.3 14.9 -1.2 -28.0 -16.1 -21.0 -18.4 -17.0 -7.8 -4.4 10

11 Money market mutual funds 2.4 3.2 2.2 1.0 -5.9 -3.4 -4.4 -3.9 -3.6 -1.7 -0.9 11

12 Treasury securities 6.0 0.2 3.0 -7.5 -4.0 -2.3 -3.0 -2.7 -2.5 -1.1 -0.6 12

13 Municipal securities 0.1 1.3 -0.5 -0.4 -0.4 -0.2 -0.3 -0.3 -0.2 -0.1 -0.1 13

14 Mortgages 5.3 -1.5 7.4 -3.0 -3.1 -1.8 -2.3 -2.0 -1.9 -0.9 -0.5 14

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

16 Trade receivables 66.6 40.0 54.7 -3.0 -40.8 -23.5 -30.6 -26.9 -24.9 -11.5 -6.5 16

17 Miscellaneous assets 256.0 378.9 328.4 106.6 -162.4 -93.3 -121.8 -107.0 -98.9 -45.6 -25.8 17

18 Insurance receivables 4.9 1.6 1.7 2.1 0.2 0.6 -0.3 2.5 1.7 -1.5 -0.2 18

19 Equity investment in GSEs (3) -0.1 0.1 0.3 0.9 0.7 0.0 -0.1 0.8 0.2 -0.8 -0.3 19

20 Other 251.2 377.2 326.4 103.7 -163.3 -94.0 -121.4 -110.3 -100.8 -43.3 -25.4 20

21 Net increase in liabilities 504.2 604.8 550.4 145.7 -291.3 -145.5 -206.6 -176.4 -148.9 -49.9 -9.6 21

22 Credit market instruments 331.6 408.6 454.8 321.8 -299.7 -198.4 -359.0 -253.2 -157.9 -23.7 -53.6 22

23 Bank loans n.e.c. 156.5 113.0 139.4 117.7 -195.4 -77.1 -202.6 -96.2 -62.1 52.3 36.2 23

24 Other loans and advances 4.2 14.4 11.1 33.2 -8.7 3.2 -14.5 1.5 23.0 2.9 -46.7 24

25 Mortgages 170.9 281.3 304.3 170.9 -95.7 -124.5 -141.9 -158.5 -118.8 -78.9 -43.2 25

26 Trade payables 52.0 20.0 29.3 -11.9 -34.0 -19.6 -25.5 -22.4 -20.7 -9.5 -5.4 26

27 Taxes payable 8.7 9.0 3.8 6.7 -7.8 -4.5 -5.9 -5.1 -4.8 -2.2 -1.2 27

28 Miscellaneous liabilities 142.8 144.8 94.1 114.4 111.6 68.9 177.3 88.4 14.5 -4.8 50.1 28

29 Proprietors’ net investment -30.9 22.3 -31.6 -285.2 -61.4 8.2 6.5 15.9 19.8 -9.6 0.6 29

(1) Net capital transfers paid from table F.9, line 58.

(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 17 respectively.

(3) Equity in the Farm Credit System.

F.104 Farm Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 28.9 28.2 32.4 34.7 35.8 35.9 35.7 35.7 35.9 36.2 36.5 1

 2 Corporate 6.8 4.9 8.3 9.5 10.3 10.4 10.4 10.3 10.3 10.4 10.4 2

 3 Noncorporate = consumption of fixed capital 22.0 23.3 24.1 25.2 25.5 25.5 25.3 25.4 25.5 25.8 26.1 3

 4 Gross investment 47.8 57.1 35.1 34.1 38.3 57.8 49.6 56.8 58.7 65.9 67.9 4

 5 Capital expenditures 36.4 31.6 36.4 44.7 40.8 46.5 47.1 49.2 47.1 42.4 39.5 5

 6 Fixed investment (2) 36.3 35.2 37.1 43.1 36.9 39.9 37.8 39.6 40.7 41.5 42.3 6

 7 Change in inventories 0.1 -3.6 -0.7 1.6 3.8 6.5 9.3 9.6 6.3 0.9 -2.8 7

 8 Net lending (+) or net borrowing (-) 11.4 25.5 -1.2 -10.6 -2.5 11.3 2.5 7.7 11.7 23.4 28.4 8

 9 Net acquisition of financial assets 2.0 6.2 5.2 2.8 2.5 1.6 1.6 1.6 1.7 1.7 1.7 9

10 Checkable deposits and currency 0.7 2.1 1.8 0.9 0.9 0.6 0.6 0.6 0.6 0.6 0.6 10

11 Miscellaneous assets 1.3 4.1 3.4 1.8 1.7 1.1 1.1 1.1 1.1 1.1 1.1 11

12 Insurance receivables 1.2 3.9 2.9 2.3 1.7 0.6 0.9 1.7 -0.2 0.1 0.7 12

13 Equity investment in GSEs (3) 0.1 0.2 0.5 -0.5 -0.0 0.5 0.2 -0.6 1.3 1.0 0.4 13

14 Net increase in liabilities -9.4 -19.3 6.4 13.4 5.0 -9.7 -0.9 -6.0 -10.0 -21.8 -26.7 14

15 Credit market instruments 17.3 14.2 14.6 4.0 -2.0 3.9 -6.5 -6.0 19.4 8.7 -24.1 15

16 Bank loans n.e.c. 2.2 3.3 2.3 3.2 -0.1 -0.3 -3.2 0.5 0.1 1.5 -5.2 16

17 Other loans and advances 5.9 7.6 7.6 -20.1 -2.8 6.4 -1.1 -4.3 21.5 9.5 -19.2 17

18 Mortgages 9.1 3.3 4.6 20.9 0.9 -2.3 -2.2 -2.2 -2.3 -2.3 0.2 18

19 Trade payables -2.8 -7.0 -4.1 24.6 4.7 -9.0 1.2 1.2 -24.6 -13.6 21.5 19

20 Proprietors’ net investment (noncorporate) -23.9 -26.6 -4.1 -15.3 2.3 -4.6 4.4 -1.2 -4.7 -16.8 -24.1 20

21 Discrepancy (corporate) -18.9 -28.9 -2.7 0.6 -2.5 -21.9 -13.9 -21.1 -22.9 -29.7 -31.4 21

(1) Corporate and noncorporate farms.

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

(3) Equity in the Farm Credit System.
22 Z.1, June 9, 2011

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 1730.4 1829.7 1923.1 1967.2 2005.8 2128.1 2095.7 2108.1 2142.7 2165.9 2162.5 1

 2 Personal current taxes 276.7 302.5 323.1 335.4 287.3 291.7 291.5 280.6 291.8 303.0 309.2 2

 3 Taxes on production and imports 831.4 887.4 932.7 949.1 930.3 951.9 945.3 948.1 951.8 962.5 967.8 3

 4 Taxes on corporate income 54.9 59.2 57.8 48.0 49.4 87.6 82.0 88.1 91.1 89.1 89.2 4

 5 Contributions for govt. social insurance 24.8 21.8 18.9 19.7 21.6 22.4 22.3 22.4 22.5 22.5 22.7 5

 6 Income receipts on assets 88.3 103.5 114.5 115.2 116.0 118.1 117.5 118.1 118.0 118.7 119.2 6

 7 Current transfer receipts 454.3 456.7 485.1 512.7 610.2 665.5 645.8 659.8 676.8 679.4 664.1 7

 8 Current surplus of government enterprises 0.1 -1.3 -9.1 -13.0 -9.0 -9.0 -8.7 -8.9 -9.2 -9.3 -9.6 8

 9 Current expenditures, NIPA basis 1704.5 1778.6 1910.8 2014.6 2025.9 2095.2 2067.2 2092.4 2095.0 2126.3 2156.6 9

10 Consumption expenditures 1212.0 1282.3 1368.9 1448.2 1424.4 1447.2 1447.4 1446.7 1441.3 1453.5 1478.0 10

11 Govt. social benefit payments to persons 404.8 402.9 433.7 455.2 492.1 534.7 509.4 532.6 539.8 556.8 562.9 11

12 Interest payments 87.3 93.0 101.1 108.3 108.0 111.8 108.7 111.0 112.3 115.0 114.8 12

13 Subsidies 0.4 0.4 7.1 3.0 1.4 1.6 1.6 2.1 1.6 0.9 0.8 13

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

15 Net state and local govt. saving, NIPA basis 25.9 51.0 12.2 -47.4 -20.1 32.9 28.6 15.8 47.7 39.6 6.0 15

16 + Consumption of fixed capital 150.1 162.7 178.7 192.6 200.9 205.2 202.3 204.2 206.1 208.2 211.0 16

17 - Net capital transfers paid (2) -49.8 -57.4 -58.9 -61.9 -67.4 -66.4 -55.4 -63.2 -73.5 -73.4 -62.3 17

18 = Gross saving less net capital transfers paid 225.8 271.2 249.8 207.1 248.2 304.5 286.2 283.2 327.4 321.2 279.3 18

19 Gross investment 299.1 323.4 268.9 226.9 279.3 333.9 304.6 302.9 364.2 363.9 296.9 19

20 Fixed investment 281.6 304.4 329.0 350.3 351.0 338.7 330.2 337.4 346.9 340.5 329.3 20

21 Nonproduced nonfinancial assets 10.3 11.1 13.8 13.9 13.4 14.3 13.8 14.1 14.4 14.7 15.0 21

22 Net lending (+) or net borrowing (-) 7.3 7.9 -74.0 -137.3 -85.0 -19.1 -39.4 -48.7 2.8 8.7 -47.4 22

23 Net acq. of financial assets 211.4 196.1 154.1 -46.3 62.5 124.9 132.8 -43.8 171.3 239.4 -78.9 23

24 Checkable deposits and currency 9.5 5.4 -4.8 8.5 19.2 6.7 2.7 13.6 8.0 2.3 14.0 24

25 Time and savings deposits 12.8 26.2 36.4 19.1 10.8 -0.4 36.9 -36.1 11.5 -14.1 27.0 25

26 Money market fund shares 5.1 6.8 3.4 -1.4 4.5 5.8 7.2 -2.9 8.3 10.5 0.5 26

27 Security RPs 10.0 13.5 6.6 -2.7 8.8 11.4 14.1 -5.7 16.4 20.7 1.0 27

28 Credit market instruments 154.0 128.5 27.2 -125.4 -30.8 14.1 19.2 -88.3 46.4 79.1 -101.5 28

29 Open market paper 13.1 17.6 -11.3 -63.5 -53.5 -25.1 -21.5 -47.5 -18.5 -13.0 -38.7 29

30 Treasury securities 92.3 45.5 7.1 -48.6 20.1 11.1 -7.8 7.0 16.4 28.7 -52.8 30

31 Agency- and GSE-backed securities 28.4 38.3 18.8 -7.6 -15.0 12.3 20.2 -36.3 26.8 38.8 -17.2 31

32 Municipal securities 0.4 0.5 0.2 -0.1 0.3 0.4 0.5 -0.2 0.6 0.7 0.0 32

33 Corporate and foreign bonds 9.0 12.1 6.0 -2.4 7.9 10.3 12.7 -5.2 14.8 18.6 0.9 33

34 Mortgages 10.8 14.5 6.4 -3.2 9.4 5.1 15.1 -6.1 6.3 5.2 6.2 34

35 Corporate equities 2.5 -4.4 2.7 22.9 17.6 -25.3 -48.5 20.5 -37.2 -36.0 -25.2 35

36 Mutual fund shares 0.8 -1.3 0.5 14.3 -7.2 -7.4 -5.1 -4.6 -10.2 -9.8 -7.1 36

37 Trade receivables 10.2 13.8 6.8 -2.7 9.0 11.7 14.5 -5.9 16.8 21.2 1.0 37

38 Taxes receivable 15.5 11.5 0.8 -3.5 -16.2 12.6 9.9 13.8 14.0 12.7 10.5 38

39 Miscellaneous assets -8.9 -3.9 74.5 24.6 46.9 95.9 82.0 51.9 97.0 152.8 1.0 39

40 Net increase in liabilities 204.1 188.1 228.1 91.0 147.5 144.0 172.2 4.9 168.4 230.7 -31.5 40

41 Credit market instruments 172.0 153.7 191.0 51.5 109.1 105.0 133.5 -34.0 129.1 191.2 -71.6 41

42 Municipal securities 171.3 153.1 190.4 50.6 108.3 104.1 133.0 -34.4 128.6 189.1 -72.0 42

43 Short-term 5.7 -3.1 17.3 12.5 2.9 14.5 3.0 -28.9 35.8 47.9 -1.4 43

44 Other 165.6 156.2 173.1 38.1 105.4 89.6 129.9 -5.5 92.8 141.3 -70.6 44

45 U.S. government loans 0.6 0.6 0.7 0.8 0.8 0.9 0.6 0.4 0.5 2.0 0.4 45

46 Trade payables 32.1 34.4 37.0 39.6 38.4 39.1 38.6 38.9 39.3 39.5 40.1 46

47 Discrepancy -73.3 -52.3 -19.1 -19.8 -31.2 -29.4 -18.4 -19.7 -36.8 -42.6 -17.6 47

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

(2) Table F.9, line 61.
Z.1, June 9, 2011 23

F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 2290.1 2524.5 2654.7 2503.1 2205.8 2385.2 2322.8 2364.7 2417.3 2436.1 2470.0 1

 2 Personal current taxes 931.9 1049.9 1165.6 1102.8 852.7 874.6 843.2 868.5 886.4 900.2 993.2 2

 3 Taxes on production and imports 98.8 99.4 94.5 96.0 94.4 106.6 100.6 106.6 108.9 110.2 107.7 3

 4 Taxes on corporate income 341.0 395.0 362.8 232.2 182.1 304.3 297.1 293.2 313.7 313.1 345.8 4

 5 Taxes from the rest of the world 12.1 14.0 14.7 16.8 13.2 12.6 12.6 12.8 12.1 13.0 13.5 5

 6 Contributions for govt. social insurance 852.6 904.6 945.3 972.4 953.5 986.3 970.6 984.7 992.9 996.9 906.2 6

 7 Income receipts on assets 23.7 26.1 29.8 31.7 46.2 45.3 41.8 44.0 47.6 47.8 48.7 7

 8 Current transfer receipts 33.6 38.3 44.8 55.0 67.9 59.8 60.2 59.1 60.5 59.3 58.3 8

 9 Current surplus of government enterprises -3.5 -2.9 -2.7 -3.7 -4.2 -4.2 -3.4 -4.2 -4.9 -4.4 -3.5 9

10 Current expenditures, NIPA basis 2573.1 2728.3 2900.0 3119.3 3457.5 3718.7 3637.1 3701.2 3760.7 3775.8 3758.5 10

11 Consumption expenditures 765.8 811.0 848.9 934.6 987.1 1043.4 1017.3 1038.5 1061.6 1056.2 1052.2 11

12 Government social benefits 1089.2 1193.1 1267.5 1402.7 1620.2 1740.5 1715.2 1732.6 1755.9 1758.3 1754.4 12

13 Other current transfer payments 402.1 394.0 423.0 441.1 537.3 587.8 577.1 578.8 596.4 598.8 577.7 13

14 Interest payments 255.4 279.2 313.2 291.2 254.0 289.6 271.6 294.9 289.8 301.9 312.4 14

15 Subsidies 60.5 51.0 47.4 49.8 58.9 57.5 55.8 56.4 57.0 60.7 61.8 15

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

17 Net federal government saving, NIPA basis -283.0 -203.8 -245.2 -616.2 -1251.7 -1333.5 -1314.2 -1336.5 -1343.4 -1339.7 -1288.4 17

18 + Consumption of fixed capital 100.4 106.6 112.6 119.8 124.3 129.7 127.3 128.8 130.2 132.3 135.3 18

19 - Insurance and pension reserves (1) 0.7 0.1 0.1 -0.6 0.5 -1.7 -4.0 -0.8 -2.0 -0.2 -2.8 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.7 4.6 4.7 4.9 4.8 5.2 5.1 5.2 5.2 5.2 4.7 20

21 - Net capital transfers paid (2) 59.8 42.7 56.3 65.0 81.9 95.5 73.0 99.6 100.2 108.9 102.2 21

22 = Gross saving less net capital transfers paid -247.7 -144.6 -193.8 -565.7 -1214.5 -1302.7 -1261.1 -1311.8 -1316.5 -1321.4 -1257.2 22

23 Gross investment -270.4 -157.7 -217.2 -651.5 -1170.2 -1239.8 -1277.3 -1677.9 -982.2 -1022.0 -1237.4 23

24 Fixed investment 110.5 120.7 127.4 145.3 152.4 170.9 160.8 168.2 172.3 182.1 171.4 24

25 Nonproduced nonfinancial assets -0.5 -13.3 -1.3 -19.2 -7.0 0.3 -0.1 -0.7 1.9 0.1 0.0 25

26 Net lending (+) or net borrowing (-) -380.4 -265.0 -343.3 -777.6 -1315.6 -1411.0 -1437.9 -1845.4 -1156.4 -1204.3 -1408.7 26

27 Net acq. of financial assets 30.2 -14.0 0.2 573.7 209.3 284.1 204.9 224.0 315.6 391.8 -625.2 27

28 U.S. official reserve assets -14.4 -2.7 -0.4 4.2 51.9 1.6 2.7 0.5 4.1 -1.0 1.6 28

29 Checkable deposits and currency 12.2 -2.7 25.1 313.1 -174.2 148.9 151.4 197.3 71.7 175.2 -847.9 29

30 Time and savings deposits -1.0 0.2 1.2 -1.3 0.3 0.1 0.4 -0.7 -0.2 0.8 -1.8 30

31 Credit market instruments -0.9 6.1 6.6 86.5 296.1 85.3 53.8 16.8 181.3 89.5 114.7 31

32 Agency- and GSE-backed securities 0.0 0.0 0.0 54.4 142.0 -47.2 -40.0 -44.3 -43.7 -60.7 -43.1 32

33 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.6 0.3 0.1 0.3 0.4 0.5 -0.0 33

34 Other loans and advances -7.0 0.6 -2.2 6.0 66.0 3.6 14.4 -1.7 3.7 -1.9 8.9 34

35 Mortgages 2.4 3.7 2.1 13.5 12.6 -1.8 -5.2 5.2 -7.2 0.0 4.9 35

36 Consumer credit (3) 3.7 1.9 6.7 12.6 75.0 130.4 84.6 57.2 228.2 151.7 144.1 36

37 Corporate equities (4) 0.0 0.0 0.0 256.3 0.6 15.1 -14.4 65.7 10.7 -1.7 68.7 37

38 Trade receivables 9.2 -11.6 1.2 4.2 -21.1 -0.3 4.5 -22.8 -3.9 21.2 1.6 38

39 Taxes receivable 25.3 -6.3 -35.5 -61.4 20.3 36.9 -0.7 33.0 26.0 89.2 42.0 39

40 Miscellaneous assets -0.3 3.1 1.9 -28.0 35.4 -3.5 7.3 -65.8 26.0 18.6 -4.1 40

41 Net increase in liabilities 410.5 251.1 343.5 1351.3 1524.9 1695.1 1642.9 2069.4 1472.0 1596.1 783.6 41

42 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 42

43 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 Treasury currency 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 -0.0 -1.1 0.0 0.0 44

45 Credit market instruments 306.9 183.4 237.1 1239.2 1443.9 1580.2 1601.9 2003.0 1395.9 1320.2 735.8 45

46 Savings bonds 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -3.8 -2.8 -2.4 -4.2 -4.4 46

47 Other Treasury securities 306.6 186.4 243.4 1241.4 1446.5 1582.9 1605.4 2004.6 1397.8 1323.6 739.0 47

48 Budget agency securities -0.4 -0.3 -0.4 0.2 0.1 0.7 0.3 1.1 0.5 0.8 1.2 48

49 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Trade payables 33.7 6.2 29.3 22.4 -51.8 23.7 20.2 -6.8 4.1 77.3 2.0 50

51 Insurance reserves 1.1 1.5 1.2 1.0 1.1 0.9 -0.3 0.7 0.7 2.5 0.3 51

52 Miscellaneous liabilities (5) 68.0 59.4 76.6 89.5 81.4 90.6 21.1 72.5 72.5 196.2 45.5 52

53 Nonmarketable securities held by pension plans 40.0 35.8 33.3 63.3 61.9 65.7 42.2 47.2 62.2 111.2 54.9 53

54 Other 28.1 23.6 43.3 26.2 19.5 24.9 -21.1 25.3 10.3 85.0 -9.4 54

55 Discrepancy 22.7 13.1 23.4 85.8 -44.3 -62.8 16.2 366.1 -334.3 -299.3 -19.9 55

 Memo:

56 Change in cash balance (6) 4.6 -5.5 27.5 308.6 -173.2 148.9 172.0 195.0 60.5 168.2 -828.5 56

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

(2) Table F.9, line 60 less line 12.

(3) Student loans.

(4) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at issuance price.

(5) 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.

(6) Time and savings deposits (line 30) plus checkable deposit and currency liabilities of the monetary authority and commercial banking sectors (table F.204, lines 3 and 8).
24 Z.1, June 9, 2011

F.107 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Foreign income from U.S. 2618.6 2990.5 3249.6 3353.0 2587.9 3024.9 2896.5 3006.4 3066.8 3129.6 3287.8 1

 2 U.S. imports 2027.8 2240.3 2375.7 2553.8 1964.7 2353.9 2237.6 2357.1 2399.4 2421.5 2590.7 2

 3 U.S. income payments to rest of world 475.9 648.6 747.7 664.7 483.6 517.9 502.6 500.8 515.5 552.8 542.8 3

 4 Current taxes and trans. payments to rest of world 115.0 101.5 126.2 134.5 139.5 153.0 156.3 148.5 151.9 155.3 154.3 4

 5 Foreign outlays to U.S. 1878.1 2192.1 2532.6 2682.6 2208.2 2543.7 2451.5 2514.0 2552.8 2656.5 2790.2 5

 6 U.S. exports 1305.1 1471.0 1661.7 1843.4 1578.4 1837.5 1757.8 1817.9 1848.9 1925.6 2020.0 6

 7 U.S. income receipts from rest of world 573.0 721.1 871.0 839.2 629.8 706.2 693.7 696.1 704.0 730.8 770.2 7

 8 - Net capital transfers paid (1) 12.8 -2.0 -0.4 5.4 -0.6 -0.5 -0.4 -0.5 -0.6 -0.5 -0.5 8

 9 Gross saving less net capital transfers paid (2) 727.8 800.4 717.3 665.0 380.3 481.7 445.4 493.0 514.6 473.7 498.1 9

10 Gross investment 713.9 807.3 639.0 583.9 215.9 235.1 139.3 124.1 547.4 129.7 793.5 10

11 Nonproduced nonfinancial assets 0.1 -0.1 0.5 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 -0.0 11

12 Net lending (+) or net borrowing (-) 713.8 807.4 638.5 583.9 215.9 235.1 139.3 124.1 547.4 129.6 793.6 12

13 Net acquisition of financial assets 1071.4 1835.4 1735.9 524.7 151.7 1092.3 822.7 919.5 1477.7 1149.3 1917.5 13

14 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Net interbank assets -12.3 -9.4 -153.6 419.8 -292.9 -50.6 -9.7 -34.1 -227.5 68.7 1020.6 16

17 U.S. checkable deposits and currency 14.9 11.4 -5.4 64.0 -9.4 29.1 10.0 12.5 32.9 60.9 81.2 17

18 U.S. time deposits 6.7 11.5 40.3 65.5 -43.5 3.3 -38.1 15.2 23.2 12.7 80.5 18

19 Money market fund shares 0.1 4.1 19.0 23.7 11.0 3.2 3.2 3.2 3.2 3.2 3.2 19

20 Security RPs (net) 45.5 2.4 -35.2 -231.5 -83.8 -130.2 -249.0 -367.2 17.7 77.7 247.1 20

21 Credit market instruments 752.0 973.6 943.8 355.8 209.7 632.7 583.2 773.6 925.8 248.0 277.3 21

22 Open market paper 9.9 46.7 -8.3 -45.1 -41.4 0.8 10.2 -26.8 20.6 -0.8 32.5 22

23 Treasury securities 245.1 150.3 165.3 710.1 583.9 680.5 676.7 692.9 1050.2 302.2 170.1 23

24 Official 112.8 208.6 98.4 548.7 561.1 374.1 300.2 172.2 810.8 213.3 121.7 24

25 Private 132.3 -58.2 66.8 161.4 22.8 306.4 376.6 520.7 239.5 88.9 48.4 25

26 Agency- and GSE-backed securities 134.3 224.0 248.8 -228.6 -175.0 -0.8 -46.2 155.2 -70.2 -41.8 27.2 26

27 Official 88.5 203.6 236.1 -31.3 -157.0 -84.3 -36.5 111.7 -271.8 -140.5 78.0 27

28 Private 45.8 20.4 12.7 -197.3 -18.0 83.5 -9.7 43.5 201.6 98.7 -50.8 28

29 Municipal securities 3.0 5.4 10.7 5.4 6.5 16.0 16.0 16.0 16.0 16.0 8.8 29

30 U.S. corporate bonds (4) 328.5 541.0 424.6 -21.8 -139.4 -42.6 -122.1 -91.4 52.0 -9.0 -6.0 30

31 Loans to U.S. corporate business 31.3 6.2 102.7 -64.1 -24.9 -21.3 48.6 27.7 -142.8 -18.6 44.7 31

32 U.S. corporate equities 56.9 96.2 218.5 104.7 131.8 93.2 108.5 9.6 121.1 133.5 172.3 32

33 Mutual fund shares 32.2 45.2 38.2 -2.0 17.7 17.8 28.7 5.3 22.6 14.4 48.1 33

34 Trade receivables 7.9 5.9 20.8 6.3 5.0 20.8 38.8 24.8 0.8 18.7 6.4 34

35 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Miscellaneous assets 167.5 694.5 649.5 -281.6 158.5 473.3 347.0 476.7 557.9 511.5 -19.1 36

37 Foreign direct investment in U.S. (5) 112.6 243.2 271.2 328.3 134.7 194.5 206.4 72.7 275.6 223.1 219.7 37

38 Other 54.9 451.4 378.3 -609.9 23.8 278.8 140.5 403.9 282.3 288.4 -238.7 38

39 Net increase in liabilities 357.6 1028.0 1097.3 -59.1 -64.2 857.2 683.4 795.4 930.4 1019.7 1123.9 39

40 U.S. official reserve assets -14.1 -2.4 0.1 4.8 52.3 1.8 3.1 0.7 4.4 -0.8 1.7 40

41 U.S. private deposits 40.8 87.2 257.0 -402.1 -171.6 84.8 35.7 165.8 48.7 89.0 44.9 41

42 Credit market instruments 113.0 332.6 170.3 -226.3 193.4 101.3 118.2 -49.6 177.9 158.8 218.3 42

43 Commercial paper 38.6 98.4 -69.3 -71.0 59.4 -5.4 -24.2 -54.9 14.6 43.2 114.3 43

44 Bonds 64.5 227.8 218.7 -158.9 144.9 88.6 141.4 -7.3 135.0 85.1 55.6 44

45 Bank loans n.e.c. 14.5 13.8 24.1 5.1 -11.2 17.9 -0.5 13.8 28.2 29.9 47.9 45

46 Official -2.9 -0.7 -0.0 0.7 0.6 1.1 -0.7 1.1 1.0 3.0 -0.1 46

47 Banks 4.7 3.8 8.3 2.8 -5.1 11.8 10.2 10.7 4.1 22.3 24.2 47

48 Other 12.7 10.7 15.8 1.6 -6.6 4.9 -9.9 2.0 23.1 4.6 23.8 48

49 U.S. government loans -4.6 -7.4 -3.3 -1.5 0.3 0.3 1.5 -1.1 0.1 0.7 0.6 49

50 Acceptance liabilities to banks -0.0 -0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

51 Foreign corporate equities (6) 186.7 137.3 147.8 -39.0 63.3 78.6 43.1 88.6 67.0 115.7 173.6 51

52 Trade payables 6.3 6.2 12.4 -9.9 -2.0 34.2 61.6 21.3 29.6 24.5 -12.6 52

53 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 Miscellaneous liabilities 24.9 467.0 509.7 613.3 -199.5 556.4 421.7 568.6 602.9 632.6 697.9 54

55 U.S. equity in IBRD, etc. 1.3 2.0 1.7 1.4 1.7 2.3 1.9 5.3 1.3 0.8 -0.9 55

56 Nonofficial foreign currencies -2.2 -0.0 23.9 529.8 -543.3 -10.1 -41.1 5.6 -4.5 -0.3 -0.2 56

57 U.S. direct investment abroad (4,5) 36.2 244.9 414.0 351.1 268.7 345.6 411.3 290.5 312.5 368.2 300.5 57

58 Other -10.4 220.1 70.1 -269.0 73.4 218.6 49.6 267.3 293.7 263.8 398.6 58

59 Discrepancy (FOF basis) (7) 13.9 -6.9 78.3 81.1 164.3 246.6 306.1 368.9 -32.8 344.0 -295.4 59

 Memo:

60 Net U.S. exports, NIPA basis -722.7 -769.3 -714.0 -710.5 -386.4 -516.4 -479.9 -539.3 -550.5 -495.9 -570.7 60

61 + Net U.S. income receipts (8) 97.1 72.4 123.3 174.5 146.3 188.3 191.2 195.3 188.5 178.0 227.4 61

62 - Current taxes and trans. payments to rest of world 115.0 101.5 126.2 134.5 139.5 153.0 156.3 148.5 151.9 155.3 154.3 62

63 = Balance on current account, NIPAs -740.5 -798.4 -716.9 -670.4 -379.7 -481.2 -445.0 -492.5 -514.0 -473.2 -497.6 63

(1) Table F.9, line 63.

(2) Line 1 minus line 5 minus line 8; equals net lending or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 63 with the sign reversed minus 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.
Z.1, June 9, 2011 25

F.108 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 6.3 5.9 2.5 4.3 0.5 2.2 2.1 2.2 2.2 2.3 2.2 1

 2 Fixed nonresidential investment 1.9 2.8 2.9 2.1 1.7 1.8 1.7 1.8 1.9 1.9 1.9 2

 3 Net acquisition of financial assets 37.4 29.6 43.1 1319.3 -3.4 186.0 391.2 90.5 -225.7 487.7 929.6 3

 4 U.S. official reserve assets 0.3 0.3 0.5 0.6 0.3 0.3 0.4 0.2 0.3 0.2 0.1 4

 5 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency 0.1 1.7 0.5 -0.0 4.0 0.9 0.2 1.8 0.8 0.5 1.0 6

 7 Federal Reserve float -0.0 -1.2 0.3 -1.5 -0.6 0.7 1.9 -1.3 1.5 0.6 0.2 7

 8 Federal Reserve loans to domestic banks 0.0 -0.0 48.6 511.1 -463.1 -96.4 -340.4 -43.4 -1.5 -0.3 -0.7 8

 9 Discount window (2) 0.0 -0.0 48.6 495.4 -447.4 -96.4 -340.4 -43.4 -1.5 -0.3 -0.7 9

10 AMLF (3) 0.0 0.0 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Security RPs 13.8 -6.0 5.8 33.5 -80.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Credit market instruments 26.4 34.7 -38.3 245.4 1001.6 271.5 762.0 133.5 -230.9 421.3 995.3 12

13 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Treasury securities 26.4 34.7 -38.3 -264.7 300.7 244.9 105.9 -7.4 55.9 825.3 1390.8 14

15 Agency- and GSE-backed securities 0.0 0.0 0.0 19.7 1048.5 71.4 677.7 180.8 -201.0 -372.2 -279.8 15

16 Bank loans n.e.c. 0.0 0.0 0.0 490.4 -347.6 -44.8 -21.6 -39.9 -85.8 -31.8 -115.7 16

17 Households (TALF) (4) 0.0 0.0 0.0 0.0 47.5 -22.8 -1.2 -19.0 -51.1 -20.0 -22.0 17

18 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Brokers and dealers (5) 0.0 0.0 0.0 45.5 -45.5 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Funding corporations (Maiden Lane) (6) 0.0 0.0 0.0 29.1 0.1 -3.4 0.2 0.2 -4.5 -9.4 -6.8 20

21 Funding corporations (AIG) 0.0 0.0 0.0 38.9 -16.7 -2.2 12.8 -2.8 -23.1 4.2 -79.8 21

22 Funding corporations (Maiden Lane II) (7) 0.0 0.0 0.0 19.5 -3.5 -2.5 -2.9 -2.4 -2.4 -2.3 -2.6 22

23 Funding corporations (Maiden Lane III) (8) 0.0 0.0 0.0 24.4 -5.9 -4.4 -4.7 -4.1 -4.6 -4.3 -4.6 23

24 Funding corporations (CPFF) (9) 0.0 0.0 0.0 333.0 -323.6 -9.4 -25.7 -11.8 0.0 0.0 0.0 24

25 Corporate equities (10) 0.0 0.0 0.0 0.0 25.1 1.3 1.2 1.3 1.3 1.3 -105.5 25

26 Miscellaneous assets -3.2 0.1 25.8 530.2 -493.8 7.8 -34.1 -1.6 2.9 64.0 39.2 26

27 Nonofficial foreign currencies (11) 0.0 0.0 24.0 529.7 -543.5 -10.2 -41.1 5.0 -4.7 0.1 -0.3 27

28 Other -3.2 0.1 1.8 0.5 49.6 18.0 7.0 -6.5 7.6 64.0 39.5 28

29 Net increase in liabilities 36.1 27.2 39.9 1316.7 -8.0 185.1 389.8 76.2 -228.8 503.1 930.5 29

30 Depository institution reserves -5.0 -0.3 2.1 839.2 117.0 -8.9 307.6 -321.5 -155.7 134.0 1755.7 30

31 Vault cash of commercial banks 8.6 1.6 3.3 2.7 -2.8 -2.2 27.4 7.2 -11.1 -32.3 42.8 31

32 Checkable deposits and currency 30.1 23.5 17.8 428.2 -117.6 185.0 94.0 346.2 69.9 230.1 -813.3 32

33 Due to federal government -1.4 0.2 11.4 349.3 -173.8 149.0 100.0 287.0 81.0 128.2 -897.0 33

34 Treasury cash holdings -0.1 0.1 0.0 0.0 -0.0 -0.1 -0.1 0.0 0.0 -0.2 0.1 34

35 Treasury general deposit account -1.3 0.1 11.4 90.0 80.5 -45.9 -379.8 -13.0 81.0 128.5 -117.3 35

36 Treasury temporary supplementary financing account 0.0 0.0 0.0 259.3 -254.3 195.0 479.9 299.9 -0.0 0.0 -779.9 36

37 Due to rest of the world 0.0 0.0 -0.0 1.3 1.0 0.9 -3.0 -1.8 5.0 3.5 -12.8 37

38 Due to government-sponsored enterprises 0.9 -1.2 0.9 19.4 14.0 -21.6 -63.2 32.2 -93.5 37.9 -13.3 38

39 Currency outside banks 30.6 24.5 5.5 58.2 41.2 56.7 60.1 28.8 77.3 60.5 109.9 39

40 Security RPs -0.3 -0.9 14.4 44.4 -10.6 -18.0 -79.9 37.8 -13.7 -16.4 9.9 40

41 Miscellaneous liabilities 2.8 3.2 2.5 2.2 6.1 29.2 40.8 6.5 -118.2 187.7 -64.6 41

42 Federal Reserve Bank stock 1.6 1.8 3.1 2.6 4.6 0.9 2.5 1.5 0.3 -0.6 -0.9 42

43 Other 1.1 1.4 -0.7 -0.5 1.5 28.3 38.3 5.1 -118.5 188.3 -63.7 43

44 Discrepancy 3.1 0.7 -3.5 -0.5 -5.8 -0.5 -1.0 -14.0 -2.8 15.7 1.2 44

(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.

(2) Loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(3) Loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(4) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(5) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF.

(6) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(7) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(8) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(9) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(10) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(11) Reciprocal currency arrangements (swap lines) with foreign central banks.
26 Z.1, June 9, 2011

F.109 Commercial Banking (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid 108.4 93.0 65.1 99.8 118.0 157.1 141.5 175.0 141.0 170.9 154.4 1

 2 Fixed nonresidential investment 58.6 61.8 73.2 87.3 72.3 70.2 68.6 69.3 72.1 70.8 71.2 2

 3 Net acquisition of financial assets 788.2 996.8 937.5 2015.7 -404.0 -339.1 75.5 -479.1 488.9 -1441.6 2464.7 3

 4 Vault cash 8.6 1.6 3.3 2.7 -2.8 -2.2 27.4 7.2 -11.1 -32.3 42.8 4

 5 Reserves at Federal Reserve -4.5 0.4 1.5 798.1 92.4 -22.3 219.5 -266.9 -175.6 133.9 1636.9 5

 6 Checkable deposits and currency -0.5 -0.1 -0.3 0.6 1.0 -0.9 -1.3 6.1 -0.5 -7.7 3.1 6

 7 Total bank credit 690.3 841.7 791.7 534.1 -455.5 -196.2 -283.2 -552.9 809.3 -758.1 -185.2 7

 8 Open market paper 0.0 0.0 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities -10.7 -2.1 17.4 -19.2 92.2 113.0 244.7 2.7 236.6 -31.9 -4.6 9

10 Agency- and GSE-backed securities -5.4 45.9 -113.3 147.1 119.0 71.7 -35.5 -39.0 205.1 156.0 9.8 10

11 Municipal securities 16.9 22.6 12.7 23.7 1.9 27.5 -1.2 -7.0 34.7 83.5 18.5 11

12 Corporate and foreign bonds 123.4 93.3 197.9 1.7 -114.2 -95.2 -186.0 -105.6 538.4 -627.6 -81.6 12

13 Bank loans n.e.c. 167.8 126.9 335.1 203.3 -427.1 -60.6 -77.7 -80.7 -97.0 13.0 274.2 13

14 Mortgages 362.4 445.0 241.4 197.0 -22.7 -195.4 -249.2 -332.0 28.1 -228.5 -301.0 14

15 Consumer credit 2.8 34.2 62.9 74.5 -50.6 -73.7 26.5 -50.5 -128.5 -142.1 -38.6 15

16 Security credit 34.8 71.5 32.3 -113.5 -59.9 22.7 8.0 61.3 6.7 14.9 -56.3 16

17 Corporate equities 0.1 0.7 1.6 2.4 6.8 -0.5 5.7 -6.8 -5.4 4.7 -4.0 17

18 Mutual fund shares -1.8 3.9 3.6 1.3 14.8 -5.8 -18.5 4.7 -9.5 -0.2 -1.6 18

19 Customers’ liab. on acceptances (2) 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Miscellaneous assets 94.3 153.6 141.3 680.3 -39.1 -117.5 113.1 327.5 -133.2 -777.4 967.1 20

21 Net increase in liabilities 645.4 769.2 810.5 1956.2 -274.8 -249.0 -53.9 -189.8 843.2 -1674.0 2468.0 21

22 Net interbank liabilities -15.9 -12.5 -102.9 960.0 -722.1 -166.6 -575.3 -211.7 -114.9 235.6 925.5 22

23 To monetary authority -0.0 -1.2 48.9 509.6 -463.7 -95.7 -338.5 -44.7 -0.0 0.3 -0.5 23

24 To domestic banks (3) -3.6 -1.9 1.8 30.6 34.4 -20.2 -227.1 -132.9 112.6 166.6 -94.6 24

25 To foreign banks -12.3 -9.4 -153.6 419.8 -292.9 -50.6 -9.7 -34.1 -227.5 68.7 1020.6 25

26 Checkable deposits -36.4 -35.9 13.3 141.4 85.0 76.6 -72.4 77.3 59.0 242.4 254.5 26

27 Federal government 7.0 -5.9 14.9 -39.5 0.3 -0.1 71.6 -91.2 -20.2 39.2 70.2 27

28 Rest of the world 6.4 9.2 5.2 33.6 -23.1 -0.2 3.9 6.0 -14.2 3.7 43.7 28

29 Private domestic -49.8 -39.2 -6.9 147.3 107.7 76.9 -147.9 162.6 93.4 199.6 140.6 29

30 Small time and savings deposits 268.3 287.6 263.0 541.4 384.4 277.5 342.4 132.5 411.7 223.2 247.6 30

31 Large time deposits 243.1 264.0 297.6 -97.6 -3.0 -204.9 -283.7 -372.9 72.1 -235.0 146.3 31

32 Federal funds and security RPs (net) 90.3 70.5 -49.7 -355.7 265.2 -139.7 254.6 -128.4 -433.0 -252.2 -190.5 32

33 Credit market instruments 85.1 175.9 261.2 162.8 -162.9 -195.7 -190.4 -227.2 -7.3 -357.9 17.4 33

34 Open market paper 4.0 20.6 35.0 -39.2 -18.1 -15.7 52.8 -28.0 -23.7 -63.9 20.7 34

35 Corporate bonds 56.7 75.3 119.5 131.0 -20.5 -55.9 -154.1 -73.4 202.1 -198.1 -17.2 35

36 Other loans and advances 24.4 80.0 106.7 71.0 -124.2 -124.1 -89.1 -125.8 -185.8 -95.8 14.0 36

37 Corporate equity issues -13.8 -10.5 -23.8 331.8 78.8 31.2 16.2 39.1 62.0 7.6 21.2 37

38 Taxes payable (net) -7.9 -1.1 -13.6 -85.7 7.1 6.9 -24.3 36.0 -0.9 16.8 17.0 38

39 Miscellaneous liabilities 32.5 31.3 165.3 357.7 -207.2 65.7 479.0 465.4 794.5 -1554.6 1028.9 39

40 Discrepancy -93.2 -196.3 -135.1 -47.1 175.0 177.0 -56.5 395.0 423.2 -132.3 86.5 40

 Memo:

41 Credit market funds advanced (4) 657.1 765.4 754.2 643.7 -417.2 -212.6 -278.4 -612.1 817.5 -777.5 -123.3 41

42 Consumer leases not included above (5) 0.0 0.0 -1.8 -1.7 -2.6 -0.8 2.4 -4.5 -1.2 0.2 -0.2 42

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

 same as branches in foreign countries.

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

(3) Floats and discrepancies in interbank transactions.

(4) Total bank credit (line 7) less security credit (line 16) less corporate equities (line 17) less mutual fund shares (line 18) plus customers’ liability on acceptances (line 19).

(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 nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
Z.1, June 9, 2011 27

F.110 U.S.-Chartered Commercial Banks

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) -3.9 -22.8 -45.3 20.3 23.6 55.0 66.4 48.8 53.7 51.0 25.8 1

 2 Fixed nonresidential investment 20.9 23.5 22.0 23.5 17.9 13.2 14.4 12.8 14.1 11.6 11.3 2

 3 Net acquisition of financial assets 529.7 787.7 595.9 1245.3 -81.9 -355.1 -162.7 -745.5 -383.6 -128.5 713.6 3

 4 Vault cash and reserves at Federal Reserve 3.9 2.3 4.4 562.9 44.4 -91.2 57.5 -130.2 -250.6 -41.3 519.4 4

 5 Total bank credit 498.4 685.4 570.3 547.6 -154.9 -198.1 -269.1 -500.1 81.8 -105.0 -235.9 5

 6 Open market paper 0.0 0.0 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities -10.1 -2.2 11.1 -19.6 64.3 93.9 236.6 21.6 129.7 -12.3 -24.2 7

 8 Agency- and GSE-backed securities -3.3 47.5 -111.4 139.7 148.4 87.3 -17.6 -24.2 186.7 204.4 19.9 8

 9 Residential mortgage pass-through securities -2.7 68.8 -54.9 152.0 -0.5 -14.7 -148.6 -145.6 119.2 116.0 38.7 9

10 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 -0.0 -0.1 0.1 -0.2 -0.0 -0.1 11.4 10

11 Residential CMOs and other structured MBS -4.4 -5.1 -4.4 14.3 59.9 117.3 179.1 96.2 105.9 88.2 83.0 11

12 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.1 -0.4 -1.7 -0.5 0.4 0.3 6.5 12

13 Other 3.8 -16.1 -52.0 -26.6 89.0 -14.9 -46.5 25.9 -38.8 -0.0 -119.6 13

14 Municipal securities 16.7 21.7 12.0 23.2 1.0 28.4 0.4 -2.7 31.8 84.3 17.3 14

15 Corporate and foreign bonds 47.0 59.1 101.7 -30.4 49.4 -90.1 -160.8 -100.5 -1.2 -97.7 -59.0 15

16 Private residential mortgage pass-through securities 5.1 8.8 15.5 -24.4 9.2 -9.3 -7.8 -27.2 -1.4 -0.9 26.4 16

17 Private commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.6 -8.3 -3.7 -25.6 -3.0 -0.9 -6.4 17

18 Private residential CMOs and other structured MBS 38.2 12.7 64.8 -1.5 -20.8 -64.5 -119.2 -50.5 -42.5 -45.8 -28.4 18

19 Private commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 -3.7 -1.5 -2.1 -3.3 -0.5 -0.1 -9.4 19

20 Other 3.8 37.6 21.4 -4.5 64.1 -6.4 -27.9 6.1 46.2 -50.1 -41.2 20

21 Bank loans n.e.c. 98.7 62.9 233.7 137.9 -298.1 -45.4 -102.7 -54.4 -73.5 48.9 146.0 21

22 Mortgages 354.8 436.8 225.7 190.0 -16.1 -186.5 -246.6 -305.1 33.3 -227.5 -291.0 22

23 Consumer credit 2.8 34.2 62.9 74.5 -50.6 -73.7 26.5 -50.5 -128.5 -142.1 -38.6 23

24 Security credit -6.6 20.9 29.3 12.8 -59.2 -5.8 8.0 17.7 -81.6 32.8 -0.7 24

25 Corporate equities 0.1 0.7 1.6 2.4 6.8 -0.5 5.7 -6.8 -5.4 4.5 -3.9 25

26 Mutual fund shares -1.8 3.9 3.6 1.3 14.8 -5.8 -18.5 4.7 -9.5 -0.2 -1.6 26

27 Customers’ liab. on acceptances (2) -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Miscellaneous assets 27.4 100.0 21.3 134.8 28.6 -65.8 48.9 -115.3 -214.7 17.8 430.1 28

29 Net increase in liabilities 467.2 643.4 548.1 1232.7 93.2 -226.6 -259.6 -369.0 8.0 -285.9 788.3 29

30 Net interbank liabilities 16.6 71.1 139.0 789.0 -561.7 -239.1 -1002.4 -218.8 46.6 218.0 -138.3 30

31 Federal Reserve float -0.0 -1.2 0.3 -1.5 -0.6 0.7 1.9 -1.3 1.5 0.6 0.2 31

32 Borrowing from Federal Reserve banks 0.0 -0.0 48.6 511.1 -463.1 -96.4 -340.4 -43.4 -1.5 -0.3 -0.7 32

33 To domestic banking 0.5 -38.1 32.2 113.4 -4.9 -62.4 -300.6 -105.3 0.6 155.5 -19.9 33

34 To foreign banks 16.1 110.5 58.0 166.1 -93.2 -81.0 -363.3 -68.8 46.0 62.2 -117.9 34

35 Checkable deposits -36.8 -36.6 9.0 140.8 80.9 70.3 -74.1 75.0 49.9 230.5 256.8 35

36 Federal government 7.0 -5.9 14.9 -39.5 0.3 -0.1 71.6 -91.2 -20.2 39.2 70.2 36

37 Rest of the world 6.2 9.4 5.0 31.2 -28.9 -4.3 2.4 7.2 -19.9 -6.8 49.2 37

38 Private domestic -49.9 -40.1 -10.9 149.1 109.4 74.7 -148.1 159.0 90.0 198.1 137.3 38

39 Small time and savings deposits 262.9 277.8 255.0 540.2 382.9 276.9 342.2 145.5 334.4 285.3 219.6 39

40 Large time deposits 166.8 129.9 23.1 24.6 -174.0 -150.1 -67.3 -81.9 -128.0 -323.3 36.2 40

41 Federal funds and security RPs (net) 57.0 21.4 -36.1 -259.0 244.9 -190.9 160.7 -160.3 -454.4 -309.5 -173.6 41

42 Open market paper -0.0 0.0 0.0 0.0 0.0 -19.7 0.0 13.0 -26.3 -65.3 -14.9 42

43 Corporate bonds 12.5 27.5 25.1 8.0 -28.3 -9.4 -25.9 4.0 0.3 -15.8 -25.9 43

44 Other loans and advances 24.4 80.0 106.7 71.0 -124.2 -124.1 -89.1 -125.8 -185.8 -95.8 14.0 44

45 Corporate equity issues 6.2 9.3 4.3 10.4 10.1 11.4 15.6 10.6 16.2 3.2 6.4 45

46 Taxes payable (net) -7.9 -1.1 -13.6 -85.7 7.1 6.9 -24.3 36.0 -0.9 16.8 17.0 46

47 Miscellaneous liabilities -34.6 64.1 35.6 -6.7 255.5 141.1 504.8 -66.2 355.9 -229.9 591.1 47

48 Investment by bank holding companies 40.0 114.1 130.7 46.6 106.9 -46.7 -20.3 92.6 83.3 -342.5 89.2 48

49 Other -74.5 -50.0 -95.2 -53.3 148.6 187.9 525.0 -158.8 272.6 112.6 501.8 49

50 Discrepancy -87.4 -190.6 -115.1 -15.8 180.7 170.2 -44.9 412.6 431.2 -118.0 89.1 50

 Memo:

51 Credit market funds advanced (3) 506.6 660.0 535.7 531.1 -117.4 -186.0 -264.3 -515.6 178.2 -142.1 -229.6 51

52 Consumer leases not included above (4) 0.0 0.0 -1.8 -1.7 -2.6 -0.8 2.4 -4.5 -1.2 0.2 -0.2 52

(1) Net capital transfers paid from table F.9, line 53.

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

(3) Total bank credit (line 5) less security credit (line 20) less corporate equities (line 21) less mutual fund shares (line 22) plus customers’ liability on acceptances (line 23).

(4) 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 nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
28 Z.1, June 9, 2011

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 3.4 3.2 3.5 2.5 2.4 2.5 2.4 2.4 2.5 2.5 2.5 1

 2 Fixed nonresidential investment 4.1 4.2 4.2 2.9 2.2 2.2 2.1 2.2 2.3 2.3 2.4 2

 3 Net acquisition of financial assets 153.9 10.1 219.8 576.8 -357.0 69.7 349.2 195.4 499.3 -765.1 1546.7 3

 4 Reserves at Federal Reserve 0.2 -0.3 0.4 238.0 45.1 66.7 189.4 -129.5 63.9 143.0 1160.3 4

 5 Total bank credit 185.9 154.6 204.6 -25.4 -281.8 -1.0 -9.8 57.5 559.0 -610.7 25.0 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 0.1 -1.0 3.6 5.1 25.9 4.7 6.5 -17.4 58.8 -29.0 33.8 7

 8 Agency- and GSE-backed securities -0.9 4.2 2.0 -6.6 -18.4 -4.7 -2.5 -4.2 -0.8 -11.5 8.8 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Corporate and foreign bonds 80.6 29.8 77.0 32.1 -156.7 -11.0 -33.1 63.2 440.5 -514.6 -52.2 10

11 Bank loans n.e.c. 60.7 67.1 105.0 65.1 -125.4 -16.1 19.0 -21.1 -24.2 -38.0 96.3 11

12 Mortgages 4.0 4.1 14.1 5.2 -6.4 -2.5 0.3 -6.7 -3.6 0.2 -6.1 12

13 Security credit 41.4 50.6 3.0 -126.3 -0.8 28.5 -0.0 43.6 88.3 -17.9 -55.6 13

14 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.2 -0.0 14

15 Customers’ liab. on acceptances (2) 0.1 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Miscellaneous assets -32.2 -143.9 14.7 364.4 -120.4 4.0 169.7 267.4 -123.6 -297.4 361.4 16

17 Net increase in liabilities 154.6 9.8 222.9 572.1 -355.6 70.9 347.8 194.4 506.7 -765.2 1560.5 17

18 Net interbank liabilities -6.0 -71.3 -191.1 240.5 -158.7 48.2 409.2 -56.5 -189.6 29.7 1052.9 18

19 To foreign banks -8.8 -78.6 -169.4 244.7 -176.2 40.9 384.8 -101.2 -195.6 75.7 1083.4 19

20 To domestic banks 2.8 7.2 -21.7 -4.3 17.5 7.3 24.4 44.8 6.0 -46.0 -30.5 20

21 Checkable deposits 0.5 -0.0 2.6 1.7 2.6 5.7 1.0 0.2 8.4 13.3 -4.4 21

22 Small time and savings deposits 0.5 8.6 6.9 0.1 4.4 5.8 1.2 5.3 76.7 -60.2 27.7 22

23 Large time deposits 71.4 132.8 273.4 -123.2 173.9 -49.6 -215.5 -272.7 199.6 90.2 109.7 23

24 Federal funds and security RPs (net) 33.4 49.0 -13.6 -96.3 40.3 52.9 108.8 62.3 54.6 -13.9 15.5 24

25 Acceptance liabilities 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Miscellaneous liabilities 54.6 -109.0 144.8 549.5 -418.0 7.8 43.0 455.8 357.0 -824.4 359.1 26

27 Foreign direct investment in U.S. 9.4 13.8 -1.2 23.2 9.0 8.7 14.5 11.8 11.4 -2.8 -2.4 27

28 Due to affiliates 21.0 8.6 43.7 35.6 -73.5 -31.5 -55.6 -155.1 106.7 -22.0 75.7 28

29 Other 24.2 -131.3 102.3 490.7 -353.4 30.6 84.2 599.1 238.9 -799.6 285.7 29

30 Discrepancy -0.1 -1.3 2.5 -5.1 1.7 1.4 -1.2 -0.8 7.6 0.0 14.0 30

 Memo:

31 Credit market funds advanced (3) 144.5 103.7 201.7 100.7 -281.0 -29.5 -9.8 13.9 470.7 -593.0 80.6 31

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

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

(3) Total bank credit (line 5) less security credit (line 13) less corporate equities (line 14) plus customers’ liability on acceptances (line 15).
Z.1, June 9, 2011 29

F.112 Bank Holding Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 108.7 112.4 106.8 76.8 91.7 99.5 72.4 123.6 84.7 117.2 126.0 1

 2 Fixed nonresidential investment 33.4 33.8 46.9 60.8 52.0 54.6 51.9 54.1 55.5 56.7 57.4 2

 3 Net acquisition of financial assets 94.8 200.2 122.4 195.9 41.2 -38.1 -96.1 88.0 390.2 -534.3 207.0 3

 4 Credit market instruments -4.2 3.3 23.2 13.9 -16.0 22.1 13.2 -64.2 180.3 -40.7 30.8 4

 5 Treasury securities -0.9 1.4 4.6 -4.0 2.7 13.8 -0.1 -3.1 48.8 9.6 -14.2 5

 6 Agency- and GSE-backed securities -2.3 -0.0 -1.3 15.9 -7.0 -3.2 -7.0 -1.8 32.1 -36.2 4.6 6

 7 Corporate and foreign bonds -3.7 4.9 19.2 -0.0 -8.4 7.3 10.3 -64.8 99.2 -15.5 8.4 7

 8 Bank loans n.e.c. 2.7 -2.9 0.7 2.0 -3.2 4.3 10.0 5.6 0.2 1.3 32.0 8

 9 Miscellaneous assets 99.0 196.8 99.2 182.1 57.2 -60.2 -109.3 152.1 209.9 -493.6 176.1 9

10 Investment in bank subsidiaries 40.0 114.1 130.7 46.6 106.9 -46.7 -20.3 92.6 83.3 -342.5 89.2 10

11 Investment in nonbank subsidiaries 42.7 46.3 -63.0 42.0 -91.4 -15.6 -5.8 11.9 104.1 -172.6 27.2 11

12 Other 16.2 36.5 31.5 93.4 41.7 2.1 -83.2 47.6 22.5 21.6 59.7 12

13 Net increase in liabilities 14.3 117.3 47.2 154.7 -11.3 -78.5 -129.5 3.6 345.0 -611.6 121.3 13

14 Net interbank liabilities -26.5 -12.3 -50.9 -69.5 -1.6 24.4 17.9 63.6 28.1 -12.2 10.8 14

15 To domestic banks -6.9 29.0 -8.7 -78.6 21.9 34.9 49.1 -72.3 106.0 57.0 -44.2 15

16 To foreign banks -19.6 -41.3 -42.2 9.1 -23.5 -10.6 -31.2 135.9 -77.9 -69.2 55.1 16

17 Federal funds and security RPs (net) -0.2 0.1 0.1 -0.4 -19.9 -1.8 -15.0 -30.3 -33.2 71.2 -32.3 17

18 Credit market instruments 48.2 68.7 129.4 84.0 -10.3 -42.6 -75.4 -118.4 204.4 -180.9 44.2 18

19 Commercial paper 4.0 20.9 35.0 -39.0 -18.1 3.9 52.7 -41.0 2.7 1.4 35.6 19

20 Corporate bonds 44.2 47.8 94.4 123.0 7.8 -46.5 -128.2 -77.4 201.8 -182.3 8.7 20

21 Corporate equity issues -20.0 -19.8 -28.0 321.4 68.6 19.8 0.6 28.5 45.8 4.4 14.8 21

22 Miscellaneous liabilities 12.8 80.6 -3.4 -180.7 -48.0 -78.2 -57.6 60.2 99.9 -494.0 83.6 22

23 Equity, etc. 48.4 -12.9 -65.3 46.1 13.2 -44.3 -48.5 100.0 103.4 -332.3 52.9 23

24 Other -35.6 93.5 61.9 -226.8 -61.2 -33.9 -9.0 -39.8 -3.6 -161.7 30.7 24

25 Discrepancy -5.2 -4.3 -15.4 -25.1 -12.8 4.5 -12.9 -14.8 -16.1 -16.8 -17.1 25

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.1 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.2 0.3 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets 9.8 -1.2 -0.6 -2.3 -6.4 -15.6 -14.9 -16.9 -17.0 -13.7 -2.6 3

 4 Checkable deposits and currency -0.5 -0.1 -0.3 0.6 1.0 -0.9 -1.3 6.1 -0.5 -7.7 3.1 4

 5 Credit market instruments 10.2 -1.7 -6.4 -1.9 -2.8 -19.3 -17.4 -46.2 -11.7 -1.7 -5.1 5

 6 Treasury securities 0.1 -0.2 -1.9 -0.6 -0.7 0.6 1.6 1.5 -0.7 -0.2 0.0 6

 7 Agency- and GSE-backed securities 1.2 -5.8 -2.7 -2.0 -3.9 -7.7 -8.4 -8.8 -12.9 -0.6 -23.5 7

 8 Municipal securities 0.2 0.8 0.7 0.5 0.9 -0.9 -1.5 -4.4 2.9 -0.7 1.2 8

 9 Corporate and foreign bonds -0.5 -0.4 0.1 0.0 1.5 -1.4 -2.3 -3.5 -0.0 0.2 21.1 9

10 Bank loans n.e.c. 5.6 -0.3 -4.2 -1.7 -0.3 -3.3 -4.0 -10.7 0.5 0.8 -0.1 10

11 Home mortgages 0.7 0.9 4.3 1.4 -0.3 -2.5 -1.5 -5.8 -1.4 -1.3 -5.4 11

12 Commercial mortgages 2.9 3.2 -2.7 0.4 -0.0 -4.0 -1.4 -14.5 -0.2 0.2 1.5 12

13 Miscellaneous assets 0.1 0.6 6.1 -1.0 -4.5 4.5 3.7 23.3 -4.7 -4.3 -0.6 13

14 Net increase in liabilities 9.3 -1.3 -7.7 -3.4 -1.1 -14.8 -12.5 -18.9 -16.5 -11.4 -2.0 14

15 Checkable deposits -0.2 0.7 1.7 -1.1 1.4 0.5 0.7 2.1 0.7 -1.3 2.2 15

16 Small time and savings deposits 4.9 1.2 1.1 1.1 -2.9 -5.2 -1.0 -18.3 0.5 -1.9 0.3 16

17 Large time deposits 4.9 1.2 1.1 1.1 -2.9 -5.2 -1.0 -18.3 0.5 -1.9 0.3 17

18 Miscellaneous liabilities -0.3 -4.4 -11.6 -4.5 3.3 -5.0 -11.2 15.6 -18.2 -6.3 -4.9 18

19 Discrepancy -0.5 -0.1 -7.1 -1.1 5.3 0.8 2.5 -2.0 0.5 2.4 0.5 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.
30 Z.1, June 9, 2011

F.114 Savings Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 10.2 6.6 11.1 18.8 26.4 27.9 27.1 24.5 31.4 28.5 25.5 1

 2 Fixed nonresidential investment 3.8 4.3 3.9 3.3 2.2 2.3 2.2 2.3 2.3 2.4 2.4 2

 3 Net acquisition of financial assets 140.9 -74.4 99.6 -290.4 -269.8 -12.4 -202.6 -28.5 -155.0 336.4 -231.2 3

 4 Reserves at Federal Reserve -0.5 -0.7 0.6 36.4 6.5 -0.7 39.2 -21.4 -14.2 -6.5 47.3 4

 5 Checkable deposits and currency 2.4 -3.3 -0.5 -11.2 -4.2 -2.4 -14.8 17.5 9.9 -22.1 5.6 5

 6 Time and savings deposits -0.5 3.9 3.3 -1.6 7.0 -0.0 15.4 -3.9 -2.0 -9.5 23.1 6

 7 Federal funds and security RPs -0.1 9.3 27.3 -10.9 -22.7 -6.6 -10.1 -6.8 -3.2 -6.3 -3.6 7

 8 Credit market instruments 199.4 -78.0 63.0 -276.1 -249.6 6.6 -167.1 8.1 -56.2 241.6 -242.6 8

 9 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Treasury securities 4.0 4.5 -5.4 -4.1 3.8 -0.9 1.5 -1.8 -2.7 -0.5 0.5 10

11 Agency- and GSE-backed securities 55.8 -13.4 0.3 -3.5 19.6 22.9 36.5 -11.2 16.0 50.5 14.3 11

12 Residential mortgage pass-through securities 25.6 -16.3 5.8 1.9 -12.9 12.5 6.9 2.3 9.9 30.9 -18.8 12

13 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 13

14 Residential CMOs and other structured MBS 7.4 2.8 -1.5 5.6 10.2 12.1 15.4 -14.6 19.5 28.1 21.4 14

15 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 15

16 Other 22.9 0.1 -4.0 -11.0 22.3 -1.7 14.1 1.0 -13.4 -8.5 11.1 16

17 Municipal securities 1.5 2.5 -0.1 -3.3 1.5 1.8 1.4 1.9 0.4 3.6 -0.9 17

18 Corporate and foreign bonds 21.0 13.2 49.5 -33.7 -24.0 -10.5 -13.6 -0.8 -18.9 -8.8 -12.2 18

19 Private residential mortgage pass-through securities -0.6 3.1 -4.5 -1.4 -2.6 -0.4 0.3 -0.3 -1.1 -0.5 -0.6 19

20 Private commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.1 -0.4 20

21 Private residential CMOs and other structured MBS 18.1 7.7 39.5 -41.9 -30.8 -6.1 -9.2 -1.4 -9.3 -4.4 -5.7 21

22 Private commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 0.1 0.0 -0.2 -0.0 22

23 Other 3.5 2.5 14.5 9.5 9.5 -4.1 -4.8 0.8 -8.6 -3.9 -5.4 23

24 Other loans and advances 3.9 6.0 6.2 6.4 -14.5 6.4 -1.2 -3.7 27.2 3.5 0.7 24

25 Mortgages 95.3 -77.2 17.2 -233.4 -227.3 -18.5 -177.6 13.3 -84.3 174.7 -236.6 25

26 Consumer credit 17.8 -13.5 -4.8 -4.5 -8.8 5.3 -14.2 10.5 6.1 18.7 -8.3 26

27 Corporate equities -1.0 -1.0 -0.1 -1.5 -0.5 -1.3 -9.0 -1.5 0.7 4.8 -5.5 27

28 Miscellaneous assets -58.8 -4.5 6.2 -25.4 -6.2 -8.0 -56.1 -20.4 -90.0 134.5 -55.5 28

29 Net increase in liabilities 126.4 -82.6 116.7 -251.8 -269.8 -22.5 -218.9 -36.8 -165.7 331.2 -225.9 29

30 Deposits 76.6 24.6 13.2 -156.0 -53.3 13.9 -186.5 -22.5 8.9 255.6 -175.4 30

31 Checkable 3.8 0.9 4.5 -2.9 13.1 -0.8 1.5 -3.7 -3.0 2.1 6.4 31

32 Small time and savings 34.0 28.9 27.6 -59.6 89.4 -5.2 -200.0 -32.8 -16.3 228.2 -196.3 32

33 Large time 38.8 -5.2 -19.0 -93.5 -155.8 19.9 12.0 14.0 28.2 25.3 14.5 33

34 Security RPs -2.3 -19.2 -24.1 -0.0 1.8 -6.0 1.0 -14.8 -4.2 -6.2 -37.4 34

35 Credit market instruments 22.5 -108.2 104.1 -67.1 -169.6 -29.0 -68.2 -35.0 -91.8 79.3 -49.5 35

36 Corporate bonds 1.0 2.0 -0.3 -8.0 -0.2 -3.6 -12.4 -0.8 -0.9 -0.2 -2.1 36

37 Bank loans n.e.c. 5.2 -44.5 13.3 13.0 -29.8 -1.2 1.4 -10.3 8.6 -4.4 5.7 37

38 Other loans and advances 16.2 -65.7 91.1 -72.2 -139.6 -24.2 -57.3 -24.0 -99.4 83.9 -53.1 38

39 Corporate equities 2.2 0.8 3.3 1.7 1.5 0.5 0.7 0.2 0.6 0.4 0.6 39

40 Taxes payable 0.1 -0.4 -2.0 -0.3 0.3 -0.3 1.0 -2.0 -0.5 0.2 1.9 40

41 Miscellaneous liabilities 27.3 19.7 22.2 -30.1 -50.5 -1.6 33.0 37.3 -78.8 1.9 34.0 41

42 Investment by parent 3.7 0.6 0.2 2.5 10.6 -1.0 -0.2 -1.2 2.3 -5.1 1.0 42

43 Other 23.6 19.1 22.0 -32.6 -61.1 -0.6 33.2 38.6 -81.1 7.0 33.0 43

44 Discrepancy -8.1 -6.0 24.1 54.0 24.2 15.5 8.6 13.9 18.5 20.9 28.4 44

(1) State-chartered savings banks, federal savings banks, cooperative banks, and savings and loan associations.
Z.1, June 9, 2011 31

F.115 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 9.2 9.8 9.0 6.9 6.7 13.1 10.6 12.5 14.0 15.3 10.5 1

 2 Fixed nonresidential investment 3.6 4.2 3.8 3.9 2.8 2.9 2.8 2.9 3.0 3.1 3.1 2

 3 Net acquisition of financial assets 30.9 30.5 42.5 53.8 70.3 29.3 -25.1 39.9 63.8 38.6 21.4 3

 4 Reserves at Federal Reserve 0.0 0.0 0.0 4.7 18.1 14.1 48.9 -33.3 34.0 6.6 71.5 4

 5 Checkable deposits and currency -2.0 6.2 -1.1 -5.7 1.4 -6.3 -65.5 47.9 20.5 -28.0 -79.1 5

 6 Time and savings deposits -4.5 -4.9 -0.0 11.4 9.5 5.4 7.3 5.2 6.5 2.6 -0.7 6

 7 Federal funds and security RPs (net) 2.6 -1.6 -2.6 -4.8 2.4 -0.1 -0.2 0.1 -0.5 0.0 0.0 7

 8 Credit market instruments 36.2 30.1 35.3 40.0 33.1 13.3 39.0 27.1 -41.6 28.8 64.6 8

 9 Open market paper -0.0 0.2 -0.5 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Treasury securities -1.1 -0.3 3.0 -1.6 5.3 4.2 6.9 5.5 -25.8 30.3 10.2 10

11 Agency- and GSE-backed securities -6.8 -13.9 -4.1 14.4 27.9 34.8 36.7 31.5 21.7 49.4 50.6 11

12 Corporate and foreign bonds -1.5 7.2 3.9 -8.9 -7.0 -18.6 -0.6 -0.4 -27.4 -46.2 0.0 12

13 Other loans and advances 1.0 0.9 0.0 2.7 2.7 0.8 -4.1 5.0 2.7 -0.5 -3.7 13

14 Home mortgages 31.3 30.1 31.8 33.2 3.2 2.8 21.0 -3.6 8.9 -15.0 18.1 14

15 Consumer credit 13.2 5.9 1.2 0.5 1.0 -10.7 -20.9 -10.9 -21.8 10.7 -10.6 15

16 Mutual fund shares -1.0 -0.1 -0.0 -0.0 -0.7 0.2 0.9 0.0 -0.0 -0.1 0.6 16

17 Miscellaneous assets -0.3 0.8 11.0 8.4 6.4 2.7 -55.5 -7.1 44.9 28.7 -35.5 17

18 Net increase in liabilities 27.5 26.0 39.5 54.5 72.6 25.6 -29.3 34.4 59.7 37.6 15.7 18

19 Shares/deposits 21.6 24.5 31.7 45.1 72.0 34.4 4.9 32.5 63.8 36.5 13.6 19

20 Checkable 7.0 -8.5 1.1 1.6 11.6 5.5 6.3 -1.1 1.0 15.8 20.9 20

21 Small time and savings 12.1 30.5 25.8 43.0 43.4 26.2 -4.8 32.8 58.4 18.2 -12.1 21

22 Large time 2.5 2.5 4.8 0.5 17.0 2.7 3.3 0.8 4.4 2.5 4.8 22

23 Other loans and advances 3.3 4.2 13.4 8.3 -14.1 -0.4 -4.4 -1.6 0.8 3.6 -9.6 23

24 Miscellaneous liabilities 2.6 -2.7 -5.6 1.1 14.7 -8.4 -29.8 3.5 -4.8 -2.5 11.7 24

25 Discrepancy 2.2 1.1 2.1 3.7 6.2 6.5 3.6 4.0 7.0 11.2 1.7 25

F.116 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving less net capital transfers paid (1) 24.5 64.0 49.8 26.1 20.7 42.7 35.0 37.0 43.4 55.3 41.7 1

 2 Fixed nonresidential investment 10.4 10.5 11.6 10.3 8.4 9.1 8.7 9.1 9.3 9.5 9.7 2

 3 Net acquisition of financial assets 75.4 64.5 43.0 25.1 39.6 -10.5 -26.7 24.9 33.9 -73.9 43.4 3

 4 Checkable deposits and currency -4.8 8.9 12.8 -14.8 -0.3 5.0 2.6 35.3 8.9 -26.8 4.8 4

 5 Money market fund shares -0.7 0.7 7.2 12.1 -3.2 -4.0 -17.2 -2.7 13.3 -9.3 8.4 5

 6 Security RPs 0.6 -0.7 1.7 0.8 0.1 -0.7 15.0 -8.8 -0.7 -8.3 -1.2 6

 7 Credit market instruments 72.8 44.8 5.3 -15.9 33.3 3.9 0.4 1.7 19.7 -6.3 20.4 7

 8 Open market paper 3.5 0.6 -3.1 5.8 -9.3 -1.9 5.1 -2.9 5.6 -15.5 2.6 8

 9 Treasury securities 0.3 3.1 -38.7 -5.6 22.9 3.2 -5.7 2.2 10.9 5.5 6.2 9

10 Agency- and GSE-backed securities 5.8 4.1 3.8 -11.5 1.9 -0.4 -0.4 -0.4 -0.4 -0.4 1.7 10

11 Municipal securities 45.4 22.1 36.1 10.6 -12.6 -21.0 -21.5 -21.1 -20.8 -20.5 5.2 11

12 Corporate and foreign bonds 17.5 14.2 5.9 -15.4 30.8 24.3 23.6 24.1 24.6 25.0 4.8 12

13 Commercial mortgages 0.3 0.7 1.3 0.2 -0.5 -0.3 -0.7 -0.1 -0.1 -0.4 -0.2 13

14 Corporate equities -6.1 2.3 0.5 35.1 -2.4 -20.9 -43.1 -2.1 -22.2 -16.3 1.9 14

15 Mutual fund shares 0.3 0.5 -0.5 -0.4 0.1 -0.1 -0.0 -0.0 -0.1 -0.1 -0.2 15

16 Trade receivables 2.4 4.9 -1.6 1.3 -3.7 0.8 7.4 7.7 1.3 -13.1 2.5 16

17 Miscellaneous assets 10.8 3.1 17.6 6.8 15.7 5.5 8.2 -6.2 13.8 6.3 6.8 17

18 Net increase in liabilities 46.4 42.1 -4.0 6.9 -6.9 3.2 -13.1 0.7 25.7 -0.5 -3.2 18

19 Security RPs 0.1 -0.1 -0.7 1.9 -1.7 0.8 -0.6 0.7 -0.5 3.7 -3.4 19

20 Corporate equity issues -2.8 -8.5 -13.2 0.4 -5.3 -12.7 -23.6 -3.8 -10.0 -13.4 -11.1 20

21 Taxes payable (net) -3.1 11.0 -2.4 -28.1 5.3 5.6 12.6 -25.8 13.6 22.2 8.8 21

22 Miscellaneous liabilities 52.2 39.7 12.3 32.8 -5.2 9.4 -1.5 29.6 22.6 -12.9 2.5 22

23 Discrepancy -14.9 31.1 -8.8 -2.4 -34.2 47.2 39.9 3.7 25.9 119.2 -14.6 23

(1) Net capital transfers paid from table F.9, line 50.
32 Z.1, June 9, 2011

F.117 Life Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 11.1 4.1 2.8 -46.6 27.9 35.8 34.4 35.7 37.1 35.9 30.8 1

 2 Fixed nonresidential investment 10.0 10.9 11.7 11.8 9.9 11.0 10.4 10.9 11.3 11.5 11.8 2

 3 Net acquisition of financial assets 185.3 225.0 240.5 167.1 115.3 189.9 143.2 362.1 230.6 23.8 53.9 3

 4 Checkable deposits and currency -5.5 8.3 2.3 24.4 -32.1 1.0 -12.0 40.3 6.9 -31.2 -17.6 4

 5 Money market fund shares -3.7 9.7 -1.6 17.5 -5.5 -12.7 -15.6 -13.1 -11.7 -10.4 11.3 5

 6 Security RPs -1.0 -0.1 0.2 5.2 2.2 0.7 4.4 -1.3 0.1 -0.6 -1.6 6

 7 Credit market instruments 116.2 67.5 84.8 11.6 139.8 151.6 80.3 163.4 207.2 155.6 145.3 7

 8 Open market paper -3.0 4.3 13.1 -3.4 11.5 -8.9 -63.4 14.7 35.0 -21.8 -37.5 8

 9 Treasury securities 13.5 -7.6 -17.3 35.1 27.7 18.5 16.7 17.9 19.1 20.3 14.3 9

10 Agency- and GSE-backed securities 11.4 8.8 5.5 -16.7 5.8 8.3 7.4 8.0 8.5 9.1 23.5 10

11 Municipal securities 2.4 4.1 4.8 5.7 26.1 40.2 33.7 37.7 42.2 47.2 7.0 11

12 Corporate and foreign bonds 74.7 29.7 43.1 -45.5 97.6 102.3 99.8 101.2 103.3 104.9 125.1 12

13 Other loans and advances 5.0 9.8 13.2 20.3 -12.6 -0.1 -1.8 -0.7 1.0 1.0 2.5 13

14 Mortgages 12.1 18.3 22.4 16.3 -16.3 -8.6 -12.1 -15.3 -2.0 -5.1 10.5 14

15 Corporate equities 65.9 71.4 84.1 81.8 33.4 45.6 66.5 62.6 26.6 26.6 30.1 15

16 Mutual fund shares -9.9 26.9 31.3 -10.7 0.0 1.0 1.0 1.0 1.0 1.0 1.0 16

17 Miscellaneous assets 23.4 41.3 39.5 37.2 -22.5 2.8 18.5 109.2 0.4 -117.1 -114.7 17

18 Net increase in liabilities 173.9 202.5 198.7 166.9 30.9 168.1 100.1 317.2 214.7 40.3 86.4 18

19 Security RPs 7.4 0.3 -1.1 -7.3 -0.5 -2.2 -13.1 2.8 4.5 -2.9 -3.0 19

20 Corporate equity issues -8.0 -20.0 -30.6 -10.7 -0.9 -4.8 -7.6 -13.3 7.8 -6.1 -8.7 20

21 Other loans and advances 0.4 2.7 14.5 26.2 -6.6 -3.2 -10.8 0.0 -1.2 -0.8 1.8 21

22 Life insurance reserves 14.9 64.1 33.0 66.0 25.4 16.4 1.2 13.1 48.3 2.9 34.5 22

23 Pension fund reserves (1) 142.1 100.5 118.6 65.5 25.1 104.2 112.9 68.4 139.9 95.7 20.5 23

24 Taxes payable (net) -2.6 4.0 -3.4 -19.7 -7.0 2.6 5.8 -2.7 11.7 -4.5 3.8 24

25 Miscellaneous liabilities 19.5 50.9 67.6 46.8 -4.6 55.1 11.7 249.0 3.7 -44.0 37.4 25

26 Discrepancy -10.4 -29.3 -50.7 -58.6 -66.5 2.9 -19.1 -20.1 9.9 40.9 51.5 26

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 25).

F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 0.4 0.4 0.5 0.8 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1

 2 Fixed nonresidential investment 0.8 0.7 1.2 2.2 1.8 2.0 1.9 2.0 2.0 2.1 2.1 2

 3 Net acquisition of financial assets 72.4 53.5 31.7 -51.8 35.0 38.2 30.5 47.8 13.5 61.1 51.4 3

 4 Checkable deposits and currency 0.3 0.4 0.6 0.5 4.2 11.5 10.0 11.8 11.0 13.4 13.2 4

 5 Time and savings deposits 6.3 0.8 4.6 0.3 4.7 4.4 4.0 5.0 3.3 5.4 3.8 5

 6 Money market fund shares 1.9 3.4 3.4 2.3 0.6 -0.1 0.2 0.0 -0.4 -0.2 -0.2 6

 7 Security RPs 1.0 0.8 3.4 7.3 3.1 0.9 0.3 -19.8 21.9 1.2 0.8 7

 8 Credit market instruments 45.3 58.4 102.5 90.6 111.6 108.0 108.2 97.0 97.5 129.5 132.9 8

 9 Open market paper 3.0 0.2 -4.8 10.2 -10.5 -11.7 -19.7 -14.2 -4.3 -8.6 -0.8 9

10 Treasury securities 3.5 14.3 38.7 15.4 125.8 176.0 123.6 263.0 238.2 79.0 72.0 10

11 Agency- and GSE-backed securities 16.8 16.6 28.2 21.3 -49.0 -98.1 -38.1 -194.5 -163.1 3.2 7.4 11

12 Corporate and foreign bonds 22.2 27.7 39.8 42.7 42.8 40.6 38.5 38.2 28.7 56.9 55.3 12

13 Mortgages -0.2 -0.3 0.7 0.9 2.6 1.3 3.9 4.5 -2.1 -1.0 -1.0 13

14 Corporate equities -42.0 -86.5 -188.3 -184.6 -175.6 -111.1 -134.8 -111.1 -111.4 -87.0 -79.6 14

15 Mutual fund shares 70.0 74.9 88.1 20.5 64.8 43.4 90.3 76.0 -8.0 15.2 15.4 15

16 Miscellaneous assets -10.4 1.3 17.5 11.3 21.6 -18.8 -47.6 -11.1 -0.4 -16.3 -34.9 16

17 Unallocated insurance contracts (2) -1.4 -1.5 26.3 38.2 10.1 -4.4 -28.1 14.6 5.2 -9.2 -9.0 17

18 Contributions receivable -1.9 -2.0 4.4 0.7 2.5 -1.2 -2.2 -1.3 -0.8 -0.6 -0.4 18

19 Other -7.1 4.8 -13.2 -27.6 9.0 -13.2 -17.3 -24.4 -4.8 -6.5 -25.5 19

20 Pension fund reserves (liabilities) (3) 72.8 53.8 32.4 -50.4 35.7 39.1 31.3 48.6 14.4 62.1 52.4 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 nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.
Z.1, June 9, 2011 33

F.119 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.4 0.5 0.7 1.0 1.3 1.3 1.3 1.3 1.3 1.3 1.4 1

 2 Fixed nonresidential investment 0.8 0.9 1.9 2.7 2.1 2.3 2.1 2.2 2.3 2.3 2.4 2

 3 Net acquisition of financial assets 5.4 45.5 0.8 17.0 -28.2 -38.5 -34.1 -64.0 -47.5 -8.5 -48.1 3

 4 Checkable deposits and currency -0.4 -2.7 4.8 -0.2 -0.0 -0.5 0.2 -1.0 -1.2 0.1 3.5 4

 5 Time and savings deposits -0.1 -0.5 -0.1 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.1 5

 6 Money market fund shares 0.1 2.1 -1.4 1.9 -0.0 -0.4 0.2 -0.8 -0.9 0.1 2.9 6

 7 Security RPs -0.6 4.5 -2.5 1.8 -0.0 -0.6 0.4 -1.4 -1.5 0.1 4.7 7

 8 Credit market instruments 18.1 114.6 12.3 13.3 -8.8 -8.2 -3.9 -17.7 -14.0 2.8 34.2 8

 9 Open market paper 0.1 7.6 -4.4 -12.5 -2.0 -1.6 0.5 -5.6 -1.5 0.1 4.6 9

10 Treasury securities 2.8 2.4 -14.6 4.8 28.1 11.1 18.5 11.4 14.3 0.3 9.2 10

11 Agency- and GSE-backed securities -0.4 49.4 23.3 6.3 -30.5 -21.7 -23.6 -34.7 -29.1 0.4 14.1 11

12 Municipal securities -0.2 1.6 -0.8 -1.0 0.0 0.1 0.0 0.0 0.3 0.0 0.2 12

13 Corporate and foreign bonds 14.5 55.5 13.6 15.9 -4.3 3.8 0.5 11.3 1.5 1.9 7.0 13

14 Mortgages 1.3 -2.0 -4.7 -0.3 -0.1 0.1 0.3 -0.2 0.4 0.0 -0.8 14

15 Corporate equities -5.6 -70.0 -6.4 1.2 -17.3 -25.8 -27.3 -38.2 -27.4 -10.2 -82.8 15

16 Mutual fund shares -5.5 -3.4 -5.2 -1.1 -2.5 -3.8 -4.0 -5.6 -4.0 -1.5 -12.1 16

17 Miscellaneous assets -0.6 1.0 -0.6 -0.0 0.5 0.7 0.3 0.8 1.6 0.2 1.4 17

18 Pension fund reserves (liabilities) (1) 5.8 45.9 2.0 18.7 -27.4 -37.6 -33.2 -63.0 -46.5 -7.5 -47.1 18

(1) Equal to the net acquisition of nonfinancial 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; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 54.7 50.4 47.8 78.9 78.2 81.9 57.1 64.7 76.9 128.9 68.7 1

 2 Credit market instruments 7.7 8.4 11.7 24.2 7.4 11.0 6.5 17.0 18.9 1.5 13.9 2

 3 Treasury securities 7.8 8.3 11.3 24.2 6.8 10.1 5.8 15.7 14.9 4.0 14.9 3

 4 Agency- and GSE-backed securities 0.0 0.1 0.3 0.0 0.6 0.7 0.5 1.0 2.6 -1.4 -0.5 4

 5 Corporate and foreign bonds -0.0 -0.0 0.1 -0.1 0.1 0.2 0.2 0.3 1.4 -1.1 -0.6 5

 6 Corporate equities 7.0 6.3 2.7 -8.6 8.8 5.2 8.4 0.6 -4.2 16.2 0.0 6

 7 Miscellaneous assets(2) 40.0 35.8 33.3 63.3 61.9 65.7 42.2 47.2 62.2 111.2 54.9 7

 8 Pension fund reserves (liabilities) (3) 54.7 50.4 47.8 78.9 78.2 81.9 57.1 64.7 76.9 128.9 68.7 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.
34 Z.1, June 9, 2011

F.121 Money Market Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 127.0 305.3 720.9 724.2 -499.0 -502.9 -1117.6 -552.7 -141.6 -199.9 -103.2 1

 2 Foreign deposits 16.2 -10.6 43.2 2.0 -32.2 8.7 -18.7 0.1 45.8 7.7 6.6 2

 3 Checkable deposits and currency -1.4 7.5 -4.8 5.6 10.4 -3.7 -13.0 -1.9 3.5 -3.5 38.4 3

 4 Time and savings deposits 15.7 23.7 63.9 84.6 217.9 -105.2 -326.3 -343.9 238.0 11.6 -76.4 4

 5 Security RPs 112.0 48.7 211.3 -63.5 -62.5 -0.5 -112.9 276.8 -10.2 -155.8 -109.5 5

 6 Credit market instruments -5.5 220.0 375.6 738.6 -644.0 -410.0 -702.9 -226.0 -379.5 -331.8 -36.8 6

 7 Open market paper 86.3 116.1 66.3 -56.1 -108.0 -116.3 -225.3 -154.5 4.1 -89.6 48.3 7

 8 Treasury securities -9.6 -5.9 95.5 399.5 -171.3 -71.0 -58.0 -42.7 -173.6 -9.5 102.9 8

 9 Agency- and GSE-backed securities -107.4 -28.7 104.5 520.3 -213.2 -140.1 -315.8 35.3 -108.0 -172.2 -129.2 9

10 Municipal securities 23.0 33.5 100.7 23.6 -93.3 -66.9 -128.2 -34.4 -65.7 -39.5 -56.5 10

11 Corporate and foreign bonds 2.2 105.1 8.5 -148.8 -58.1 -15.7 24.4 -29.7 -36.3 -21.0 -2.3 11

12 Miscellaneous assets -10.0 15.9 31.8 -43.1 11.3 7.7 56.1 -257.8 -39.2 271.9 74.4 12

13 Net share issues (liabilities) 127.0 305.3 720.9 724.2 -499.0 -502.9 -1117.6 -552.7 -141.6 -199.9 -103.2 13

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

F.122 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 21.1 11.4 13.4 -2.9 11.5 10.3 6.7 5.9 17.7 10.9 6.5 1

 2 Net acquisition of financial assets 260.2 336.8 364.7 31.0 490.5 384.2 544.7 35.5 544.1 412.5 963.6 2

 3 Security RPs 2.8 17.4 -0.6 -7.4 28.6 -15.8 -12.9 -90.0 29.4 10.3 297.7 3

 4 Credit market instruments 124.1 184.9 271.1 73.3 380.7 374.3 510.3 163.2 555.6 268.0 536.5 4

 5 Open market paper 2.9 17.4 -0.4 -62.5 28.6 -13.9 -11.5 -120.9 38.3 38.5 285.6 5

 6 Treasury securities 6.6 5.0 18.5 8.7 67.6 41.9 57.7 33.7 64.0 12.4 12.3 6

 7 Agency- and GSE-backed securities 20.8 15.7 66.2 27.3 46.4 152.0 180.7 105.5 200.5 121.4 38.5 7

 8 Municipal securities 17.4 32.7 27.8 17.4 90.6 46.4 85.2 50.9 74.4 -24.9 -40.1 8

 9 Corporate and foreign bonds 65.9 104.3 123.0 69.9 146.2 147.0 197.3 93.2 177.6 120.1 240.5 9

10 Other loans and advances 10.5 9.8 36.1 12.4 1.3 0.8 0.9 0.8 0.8 0.6 -0.3 10

11 Corporate equities 129.6 131.3 91.3 -38.1 86.3 37.7 73.7 -15.8 -13.2 106.2 129.4 11

12 Miscellaneous assets 3.7 3.3 2.8 3.2 -5.1 -12.0 -26.4 -21.8 -27.8 28.0 -0.0 12

13 Net share issues (liabilities) 260.2 336.8 364.7 31.0 490.5 384.2 544.7 35.5 544.1 412.5 963.6 13

14 Discrepancy 21.1 11.4 13.4 -2.9 11.5 10.3 6.7 5.9 17.7 10.9 6.5 14

(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; quarterly figures are seasonally adjusted annual rates

 Closed-end funds

 1 Net acquisition of financial assets 20.7 8.2 17.9 -62.7 5.9 0.6 -2.8 6.8 13.4 -15.0 3.3 1

 2 Credit market instruments 2.2 6.0 -0.9 -41.1 9.4 4.2 10.0 -8.2 9.2 6.0 8.1 2

 3 Treasury securities 0.3 0.2 -1.7 -2.4 1.2 0.7 2.5 -0.5 0.5 0.4 0.5 3

 4 Municipal securities 0.2 0.0 1.9 -13.3 2.9 -0.6 0.9 0.6 1.9 -5.9 -2.6 4

 5 Corporate and foreign bonds 1.7 5.7 -1.0 -25.3 5.3 4.1 6.6 -8.2 6.8 11.4 10.2 5

 6 Corporate equities 18.5 2.2 18.7 -21.6 -3.5 -3.6 -12.7 14.9 4.3 -21.0 -4.8 6

 7 Net share issues (liabilities) 20.7 8.2 17.9 -62.7 5.9 0.6 -2.8 6.8 13.4 -15.0 3.3 7

 Exchange-traded funds

 8 Net acquisition of financial assets 56.7 74.0 150.5 177.2 116.5 117.8 27.9 123.5 133.2 186.7 94.4 8

 9 Credit market instruments 6.8 5.7 13.3 23.0 46.0 29.7 41.2 45.4 35.2 -3.2 29.7 9

10 Treasury securities 4.8 3.4 6.6 7.4 14.7 9.2 18.4 22.2 -0.8 -2.8 7.1 10

11 Municipal securities 0.0 0.0 0.6 1.7 3.6 1.7 2.6 2.9 2.2 -0.8 -0.6 11

12 Corporate and foreign bonds 1.9 2.4 6.2 13.9 27.6 18.7 20.2 20.3 33.7 0.4 23.1 12

13 Corporate equities 50.0 68.3 137.2 154.2 70.5 88.2 -13.3 78.1 98.0 189.9 64.7 13

14 Net share issues (liabilities) 56.7 74.0 150.5 177.2 116.5 117.8 27.9 123.5 133.2 186.7 94.4 14
Z.1, June 9, 2011 35

F.124 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 4.2 4.0 4.7 6.6 9.5 8.4 6.9 8.1 9.0 9.8 6.9 1

 2 Fixed nonresidential investment 0.7 0.7 1.2 1.7 1.7 1.7 1.6 1.7 1.7 1.8 1.8 2

 3 Net acquisition of financial assets -63.5 53.5 301.4 225.7 -386.2 -316.2 -143.5 -385.8 -619.8 -115.8 -190.7 3

 4 Checkable deposits and currency -24.5 1.8 -2.7 39.7 11.1 -36.0 -1.6 0.4 -207.1 64.2 28.2 4

 5 Time and savings deposits 12.1 -1.5 12.8 21.9 -42.8 0.3 -18.0 9.8 -6.5 15.9 -9.3 5

 6 Federal funds and security RPs (net) 14.1 9.7 25.3 -28.2 7.6 20.6 188.4 -50.4 -0.3 -55.2 25.2 6

 7 Credit market instruments -69.1 46.6 239.0 239.1 -333.9 -328.2 -286.5 -320.7 -550.9 -154.8 -52.5 7

 8 Open market paper 8.0 18.5 -4.7 14.1 3.0 0.2 -4.5 7.3 -7.5 5.3 -1.7 8

 9 Treasury securities 0.2 1.2 1.3 1.2 5.1 33.3 153.0 48.3 -10.6 -57.4 13.5 9

10 Agency- and GSE-backed securities -135.4 -37.1 -11.1 207.0 -27.4 -85.1 -180.4 -117.1 -50.6 7.8 -12.4 10

11 Municipal securities -4.9 -3.6 -2.8 -2.0 -2.2 -4.2 -4.2 -3.5 -3.8 -5.2 -4.3 11

12 Corporate and foreign bonds 50.9 16.1 -17.4 -77.7 -33.8 -16.9 55.8 -47.0 -18.9 -57.7 -36.6 12

13 Other loans and advances 52.4 33.1 237.7 38.1 -284.8 -144.7 -171.5 -152.2 -258.7 3.8 -111.5 13

14 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Farm Credit System 8.1 11.9 11.9 4.8 -0.2 7.2 -10.0 -0.8 26.9 12.9 -64.5 15

16 FHLB loans 44.4 21.2 225.8 33.3 -284.6 -151.9 -161.6 -151.4 -285.6 -9.1 -47.0 16

17 Mortgages -40.2 18.4 35.9 58.3 6.2 -110.8 -134.7 -56.6 -200.7 -51.4 100.5 17

18 Home -54.7 3.7 -9.7 8.0 -11.8 -111.8 -112.8 -54.3 -208.5 -71.8 102.4 18

19 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 -232.5 30.2 -572.2 -251.7 -136.2 94.3 19

20 Other -54.7 3.7 -9.7 8.0 -11.8 120.6 -143.0 517.9 43.2 64.4 8.1 20

21 Multifamily residential 10.5 12.4 42.3 40.0 16.7 2.0 -19.3 -1.9 8.5 20.5 -1.6 21

22 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 25.3 35.2 4.4 12.0 49.5 23.9 22

23 Other 10.5 12.4 42.3 40.0 16.7 -23.3 -54.5 -6.3 -3.5 -29.0 -25.5 23

24 Farm 4.0 2.2 3.3 10.3 1.3 -0.9 -2.6 -0.4 -0.7 -0.1 -0.2 24

25 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Miscellaneous assets 4.0 -3.2 27.0 -46.7 -28.2 27.1 -25.8 -25.0 145.0 14.0 -182.2 26

27 Net increase in liabilities -81.7 48.3 325.6 340.3 -321.0 -198.8 -2.8 -225.9 -463.6 -103.0 -37.4 27

28 Credit market instruments -84.0 35.6 282.4 271.7 -475.3 -233.8 -60.1 -248.6 -372.1 -254.3 11.1 28

29 GSE issues (4) -84.0 35.6 282.4 271.7 -475.3 -233.8 -60.1 -248.6 -372.1 -254.3 11.1 29

30 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 -207.2 65.4 -567.8 -239.7 -86.8 118.2 30

31 Other -84.0 35.6 282.4 271.7 -475.3 -26.5 -125.5 319.2 -132.3 -167.5 -107.1 31

32 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Corporate equities 4.2 1.1 25.5 27.6 96.0 38.1 58.6 76.1 10.6 6.9 8.0 33

34 Miscellaneous liabilities -1.9 11.6 17.7 41.0 58.3 -3.1 -1.3 -53.4 -102.2 144.4 -56.5 34

35 Discrepancy -14.8 -1.8 27.7 119.5 73.0 124.2 146.0 166.4 163.4 20.9 158.4 35

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, 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. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 164.5 292.6 623.3 497.0 415.3 186.9 131.1 251.0 153.4 212.1 212.3 1

 2 Home mortgages 169.0 302.8 622.6 492.2 402.5 175.8 131.6 232.9 139.3 199.4 196.9 2

 3 Multifamily residential mortgages -4.5 -12.5 -0.7 4.6 13.0 11.3 2.1 16.2 14.2 12.8 17.5 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages -0.1 2.3 1.4 0.1 -0.2 -0.2 -2.6 1.9 -0.1 -0.2 -2.1 5

 6 Net increase in pool securities (liabilities)(2) 164.5 292.6 623.3 497.0 415.3 186.9 131.1 251.0 153.4 212.1 212.3 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.124). 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.
36 Z.1, June 9, 2011

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.9 0.8 0.6 0.5 0.5 0.4 0.4 0.4 0.4 0.4 0.4 1

 2 Fixed nonresidential investment 0.3 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets 730.1 808.3 344.8 -408.8 -757.3 -525.4 -663.9 -546.2 -484.6 -406.7 -276.9 3

 4 Treasury securities 19.7 28.7 29.3 -13.6 -18.3 -13.6 -16.7 -14.1 -14.4 -9.1 -16.7 4

 5 Agency- and GSE-backed securities (1) -30.6 24.8 26.3 -28.1 -227.5 -107.8 -161.0 -143.2 -89.3 -37.5 -70.0 5

 6 Other loans and advances 20.2 65.0 88.6 37.9 -51.1 -56.8 -80.1 -53.7 -38.3 -55.1 5.4 6

 7 Mortgages (2) 685.3 630.0 174.5 -351.5 -384.8 -280.9 -244.0 -292.6 -300.0 -287.2 -178.4 7

 8 Home 573.4 517.4 35.2 -311.8 -337.3 -232.2 -219.9 -235.0 -232.5 -241.3 -212.8 8

 9 Multifamily residential 16.6 14.0 20.6 -10.8 -5.8 -8.7 -3.7 -6.7 -8.5 -15.9 -2.8 9

10 Commercial 95.3 98.7 118.7 -29.0 -41.6 -40.1 -20.3 -50.9 -59.1 -29.9 37.2 10

11 Consumer credit 38.4 51.2 22.6 -37.3 -41.3 -56.8 -137.5 -38.4 -42.9 -8.4 -23.3 11

12 Trade credit -2.8 8.5 3.4 -16.1 -34.3 -9.5 -24.6 -4.2 0.4 -9.5 6.0 12

13 Net increase in liabilities 729.5 807.7 344.3 -409.2 -757.6 -525.7 -664.3 -546.5 -484.9 -407.0 -277.2 13

14 Commercial paper 148.3 162.9 -194.2 -83.9 -266.2 -37.7 -79.7 -69.1 88.9 -90.8 96.1 14

15 Corporate bonds (net) (5) 581.1 644.8 538.5 -325.3 -491.4 -488.0 -584.5 -477.5 -573.8 -316.2 -373.3 15

16 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Memo:

 Securitized assets not included above

17 Consumer leases (3) -0.6 -0.5 -0.5 -0.4 -0.4 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 17

18 REIT assets (4) 17.3 2.8 -17.9 -45.5 -7.8 -11.7 0.5 -13.6 -5.5 -28.4 -10.3 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 nonfinancial 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; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 60.7 60.4 65.2 79.1 90.4 98.1 84.8 93.1 102.3 112.3 84.9 1

 2 Fixed nonresidential investment 46.0 44.6 46.6 33.7 23.7 26.0 24.6 25.8 26.6 27.1 27.7 2

 3 Net acquisition of financial assets 99.0 34.3 19.9 -59.5 -189.2 -164.3 -376.3 -89.6 -181.3 -10.2 -70.3 3

 4 Checkable deposits and currency -8.9 -1.6 0.4 0.3 0.5 -1.7 -4.4 1.1 -2.4 -0.9 1.6 4

 5 Time and savings deposits -9.1 -4.8 1.2 0.8 1.6 -5.0 -13.3 3.2 -7.3 -2.7 4.8 5

 6 Credit market instruments 64.7 71.0 16.6 -72.3 -223.3 -141.7 -230.1 -102.6 -156.7 -77.6 -30.9 6

 7 Corporate and foreign bonds -52.5 -18.7 4.5 3.0 6.3 -19.6 -51.9 12.3 -28.6 -10.3 18.8 7

 8 Other loans and advances 27.6 18.9 24.9 16.9 -91.0 -19.0 -62.7 -48.6 46.4 -11.2 -21.2 8

 9 Mortgages 65.4 53.0 -62.5 -84.0 -50.5 -56.9 -53.8 -34.3 -68.0 -71.4 -45.1 9

10 Consumer credit 24.2 17.8 49.7 -8.3 -88.0 -46.2 -61.7 -32.1 -106.4 15.4 16.6 10

11 Miscellaneous assets 52.2 -30.2 1.7 11.8 31.9 -15.9 -128.4 8.8 -14.8 70.9 -45.9 11

12 Net increase in liabilities 63.5 48.5 26.5 -69.1 -250.2 -185.5 -383.9 -129.0 -227.1 -1.9 -130.5 12

13 Credit market instruments 33.5 34.8 34.9 -79.4 -156.2 -173.9 -301.3 -145.6 -171.6 -77.0 3.1 13

14 Open market paper -15.3 5.3 -15.1 -22.6 -38.8 1.7 46.9 -6.2 -27.2 -6.6 44.4 14

15 Corporate bonds 43.6 42.4 -2.8 -49.6 -87.0 -110.7 -284.6 -94.6 -46.1 -17.5 -86.4 15

16 Bank loans n.e.c. 5.2 -12.9 52.8 -7.1 -30.4 -64.9 -63.6 -44.8 -98.3 -52.9 45.1 16

17 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Taxes payable 1.9 0.0 -1.5 -0.1 -2.8 0.3 -0.4 0.3 0.6 0.5 -0.5 18

19 Miscellaneous liabilities 28.2 13.7 -6.9 10.4 -91.2 -11.8 -82.2 16.3 -56.1 74.6 -133.1 19

20 Foreign direct investment in U.S. 6.3 5.2 -9.4 23.0 7.6 -0.1 6.6 -6.5 0.8 -1.2 -0.4 20

21 Investment by parent 25.5 26.2 -13.4 -8.4 -32.6 -15.9 -12.4 -15.3 -4.1 -31.7 -27.8 21

22 Other -3.7 -17.8 15.8 -4.2 -66.3 4.1 -76.3 38.1 -52.9 107.4 -104.9 22

23 Discrepancy -20.7 29.9 25.1 35.8 5.7 50.9 52.5 27.9 29.8 93.4 -3.1 23

 Memo:

24 Consumer leases not included above (2) 11.2 20.6 16.9 -11.8 -25.7 -15.7 -30.8 -14.1 -9.7 -8.3 2.4 24

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

(2) See footnote (3), table F.126.
Z.1, June 9, 2011 37

F.128 Real Estate Investment Trusts (REITs)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving -18.5 -10.9 -18.2 -12.4 6.5 -1.9 -2.0 -1.8 -1.6 -2.3 -2.1 1

 2 Fixed nonresidential investment 6.1 5.3 7.5 6.5 4.8 4.5 4.4 4.5 4.6 4.7 4.6 2

 3 Multifamily residential investment 2.5 3.5 -9.3 0.1 -0.1 4.7 6.2 3.0 7.7 1.7 1.6 3

 4 Net acquisition of financial assets 53.9 38.8 -27.3 -62.7 1.6 39.7 22.2 44.6 66.4 25.8 229.4 4

 5 Checkable deposits and currency 1.4 4.9 -1.8 1.8 8.1 -2.9 -4.6 3.1 -5.7 -4.5 20.0 5

 6 Credit market instruments 41.0 26.1 -21.2 -63.9 1.9 35.2 16.3 17.7 55.2 51.6 195.5 6

 7 Agency- and GSE-backed securities -4.0 24.8 23.5 1.6 15.3 38.0 16.0 22.4 55.5 58.2 189.1 7

 8 Corporate and foreign bonds 17.0 11.6 -30.2 -20.0 3.2 4.8 7.7 2.3 7.1 2.3 9.8 8

 9 Mortgages 28.1 -10.3 -14.5 -45.5 -16.6 -7.6 -7.3 -7.0 -7.4 -8.9 -3.4 9

10 Home 24.6 -23.7 -24.5 -42.5 -9.1 -6.6 -8.6 -10.5 -4.3 -2.9 -2.8 10

11 Multifamily residential 0.3 3.1 0.2 -1.3 -2.1 -0.2 -0.4 0.1 -0.3 -0.1 -0.3 11

12 Commercial 3.2 10.3 9.9 -1.7 -5.5 -0.9 1.7 3.4 -2.9 -5.9 -0.3 12

13 Miscellaneous assets 11.6 7.8 -4.4 -0.7 -8.4 7.5 10.4 23.9 16.8 -21.3 14.0 13

14 Net increase in liabilities 88.9 59.9 24.5 -50.7 -17.7 68.9 64.5 60.6 81.3 69.1 260.2 14

15 Security RPs 13.2 14.4 -6.2 -11.2 14.6 31.5 -3.3 25.3 30.5 73.6 161.8 15

16 Credit market instruments 55.4 15.5 10.2 -48.6 -33.7 11.2 17.8 6.6 35.1 -14.9 25.5 16

17 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Corporate bonds 32.8 13.9 0.7 -55.1 -25.0 6.5 25.6 10.9 28.4 -39.0 10.1 18

19 Bank loans n.e.c. 8.4 -5.0 4.8 -0.3 -12.1 -2.2 -8.6 -6.2 3.7 2.4 4.2 19

20 Mortgages 14.1 6.6 4.7 6.8 3.4 6.9 0.8 1.9 3.1 21.8 11.2 20

21 Corporate equity issues 16.1 22.2 17.1 12.8 24.2 28.2 10.9 33.2 24.4 44.4 63.6 21

22 Miscellaneous liabilities 4.3 7.8 3.4 -3.7 -22.8 -2.0 39.1 -4.5 -8.8 -33.9 9.3 22

23 Discrepancy 7.9 1.4 35.3 -6.9 -17.5 18.0 29.7 6.7 1.0 34.6 22.4 23

 Memo:

24 Securitized assets included above 17.3 2.8 -17.9 -45.5 -7.8 -11.7 0.5 -13.6 -5.5 -28.4 -10.3 24

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

26 Home mortgages 15.7 -9.8 -20.2 -39.4 -8.2 -5.9 -7.8 -9.5 -3.9 -2.6 -2.5 26

27 Multifamily residential mortgages 0.1 0.3 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 -0.0 27

28 Commercial mortgages 1.6 12.3 2.4 -6.1 0.4 -5.8 8.2 -4.1 -1.5 -25.9 -7.8 28
38 Z.1, June 9, 2011

F.129 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 11.1 21.0 -22.6 -81.1 -66.0 -57.4 -51.0 -72.3 -49.2 -57.0 -61.4 1

 2 Fixed nonresidential investment 12.3 15.8 21.7 17.6 15.1 16.4 15.5 16.2 16.7 17.0 17.4 2

 3 Net acquisition of financial assets 282.2 614.7 350.3 -874.8 -133.0 -9.1 269.5 -432.8 247.6 -120.5 356.9 3

 4 Checkable deposits and currency -6.4 24.0 24.5 15.1 -29.4 6.2 -2.2 -16.4 13.8 29.6 -19.4 4

 5 Credit market instruments 82.3 106.2 219.7 -85.7 -192.1 32.2 188.6 36.3 71.0 -167.0 137.7 5

 6 Open market paper 12.2 4.1 22.8 -21.4 -24.2 -5.3 -12.2 -21.6 4.4 8.2 14.6 6

 7 Treasury securities -20.0 -2.4 7.1 250.6 -67.6 -28.5 112.7 -46.5 -24.8 -155.3 82.5 7

 8 Agency- and GSE-backed securities -6.3 37.0 152.2 -47.5 -131.8 38.9 66.5 137.5 46.6 -94.9 13.7 8

 9 Municipal securities 10.9 8.0 -0.7 -11.4 -3.3 4.6 19.6 -21.3 16.8 3.2 -12.0 9

10 Corporate and foreign bonds 77.7 39.8 27.3 -259.0 47.5 33.2 14.8 -1.1 38.8 80.3 34.6 10

11 Other loans and advances 7.7 19.8 11.1 3.1 -12.7 -10.7 -12.9 -10.7 -10.7 -8.6 4.3 11

12 Corporate equities 20.1 -0.2 25.4 -28.5 -4.6 -18.5 -65.4 3.2 -40.7 28.9 28.6 12

13 Security credit -31.6 59.7 33.4 -160.7 38.1 75.2 -26.4 82.5 66.7 178.0 150.2 13

14 Miscellaneous assets 217.7 425.1 47.3 -615.1 54.9 -104.2 174.9 -538.4 136.7 -190.0 59.8 14

15 Net increase in liabilities 273.9 585.9 384.4 -712.9 -199.0 -27.0 201.5 -368.7 231.3 -172.0 337.2 15

16 Security RPs (net) 206.7 338.3 75.5 -560.3 -57.5 -66.2 -80.7 -414.5 74.7 155.7 127.4 16

17 Credit market instruments 0.1 6.4 -4.0 77.7 -49.7 36.9 -2.4 34.6 -19.2 134.4 -6.1 17

18 Corporate bonds 0.1 6.4 -4.0 32.3 -4.2 36.9 -2.4 34.6 -19.2 134.4 -6.1 18

19 Bank loans n.e.c. (1) 0.0 0.0 0.0 45.5 -45.5 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Corporate equity issues 3.3 -7.6 32.3 120.2 -32.4 -11.1 -52.6 83.9 -34.4 -41.4 -11.0 20

21 Trade payables 7.0 5.2 -2.4 -24.7 48.9 -52.0 -31.4 -40.9 12.3 -148.0 1.2 21

22 Security credit 31.8 151.8 243.0 -237.3 -134.0 48.4 53.7 85.2 49.9 4.8 -20.3 22

23 Customer credit balances (HH) -3.0 80.4 210.8 -123.8 -74.1 25.7 45.7 23.9 43.2 -10.1 36.0 23

24 From banks 34.8 71.5 32.3 -113.5 -59.9 22.7 8.0 61.3 6.7 14.9 -56.3 24

25 Taxes payable -0.1 0.7 -0.6 0.3 3.2 -2.1 -5.3 -0.1 8.0 -10.9 2.3 25

26 Miscellaneous liabilities 26.2 97.8 38.2 -100.4 26.1 17.0 320.8 -126.1 144.6 -271.2 256.0 26

27 Foreign direct investment in U.S. -2.6 -5.1 1.0 26.1 9.8 8.0 12.9 -21.6 14.8 26.1 19.0 27

28 Due to affiliates 115.1 62.3 -36.1 65.8 -81.6 -15.7 91.9 -22.8 153.6 -285.6 28.8 28

29 Other -86.2 40.6 73.4 -192.2 97.9 24.7 216.0 -81.6 -23.8 -11.7 208.2 29

30 Proprietors’ net investment -1.2 -6.8 2.4 11.5 -3.6 2.1 -0.6 9.2 -4.7 4.6 -12.3 30

31 Discrepancy -9.5 -23.6 -10.1 63.2 -147.2 -91.6 -134.5 -24.4 -82.2 -125.5 -98.5 31

(1) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

F.130 Funding Corporations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 157.6 122.5 391.9 971.7 -437.3 -152.2 -496.5 -302.7 206.7 -16.4 -606.6 1

 2 Money market fund shares 37.1 41.9 328.7 273.6 -160.4 -215.7 -557.2 -285.5 -32.7 12.7 -394.3 2

 3 Security RPs 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 52.7 49.5 -54.3 656.0 -234.9 108.7 117.9 167.6 66.7 82.7 -226.4 4

 5 Open market paper 78.4 53.1 -170.6 143.7 -268.7 58.6 111.5 90.9 169.4 -137.5 -51.4 5

 6 Corporate and foreign bonds -29.4 -7.1 109.6 497.3 43.6 51.9 8.4 78.4 -100.9 221.6 -174.4 6

 7 Other loans and advances 3.6 3.4 6.7 15.1 -9.8 -1.7 -2.1 -1.7 -1.7 -1.4 -0.7 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 25.1 1.3 1.2 1.3 1.3 1.3 -105.5 8

 9 Miscellaneous assets 67.9 31.1 117.6 42.1 -67.2 -46.5 -58.3 -186.0 171.3 -113.2 119.8 9

10 Investment in foreign banking offices 21.0 8.6 43.7 35.6 -73.5 -31.5 -55.6 -155.1 106.7 -22.0 75.7 10

11 Investment in brokers and dealers 46.9 22.6 73.9 6.4 6.3 -15.0 -2.7 -30.9 64.7 -91.2 44.0 11

12 Net increase in liabilities 157.6 122.5 391.9 971.7 -437.3 -152.2 -496.5 -302.7 206.7 -16.4 -606.6 12

13 Credit market instruments 104.7 29.1 114.5 466.4 -434.8 -65.3 -162.3 -167.3 254.9 -186.7 -63.3 13

14 Open market paper 77.1 7.5 62.9 20.1 -125.1 -47.4 -188.6 -158.2 234.8 -77.5 -9.8 14

15 Corporate bonds 27.6 21.6 51.5 1.4 37.9 -3.2 36.1 -0.9 52.8 -100.8 39.8 15

16 Bank loans n.e.c. (3) 0.0 0.0 0.0 444.9 -349.6 -21.9 -20.4 -20.9 -34.7 -11.8 -93.8 16

17 Other loans and advances (4) 0.0 0.0 0.0 0.0 2.0 7.2 10.7 12.8 1.9 3.4 0.6 17

18 Corporate equities (5) 0.0 0.0 0.0 40.0 30.5 3.5 10.0 1.3 1.3 1.3 -60.4 18

19 Miscellaneous liabilities 52.9 93.3 277.5 465.3 -33.0 -90.4 -344.3 -136.7 -49.5 168.9 -483.0 19

20 Foreign direct investment in U.S. 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 20

21 Securities loaned (net) 174.9 302.6 -2.1 -353.2 -30.2 -123.5 -30.6 -334.5 31.7 -160.5 -97.3 21

22 Equity interest under PPIP 0.0 0.0 0.0 0.0 2.4 7.9 13.4 10.2 5.0 3.1 0.6 22

23 Other (net) -122.6 -209.9 278.9 817.9 -5.8 24.6 -327.7 187.1 -86.7 325.7 -386.9 23

(1) Funding subsidiaries, nonbank financial holding companies, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
Z.1, June 9, 2011 39

F.200 U.S. Official Reserve Assets (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities -14.1 -2.4 0.1 4.8 99.9 1.8 3.1 0.7 4.4 -0.8 1.7 1

 2 Federal government: SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Rest of the world -14.1 -2.4 0.1 4.8 52.3 1.8 3.1 0.7 4.4 -0.8 1.7 3

 4 SDR holdings -4.5 0.2 0.2 0.1 48.2 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserve position in IMF (net) -10.2 -3.3 -1.0 3.5 3.4 1.3 2.3 0.3 3.8 -1.3 1.2 5

 6 Foreign currency holdings 0.6 0.7 1.0 1.3 0.7 0.5 0.7 0.3 0.5 0.4 0.5 6

 7 Total assets -14.1 -2.4 0.1 4.8 99.9 1.8 3.1 0.7 4.4 -0.8 1.7 7

 8 Federal government -14.4 -2.7 -0.4 4.2 51.9 1.6 2.7 0.5 4.1 -1.0 1.6 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 SDR holdings -4.5 0.2 0.2 0.1 48.2 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Reserve position in IMF (net) -10.2 -3.3 -1.0 3.5 3.4 1.3 2.3 0.3 3.8 -1.3 1.3 11

12 Foreign currency holdings 0.3 0.4 0.5 0.6 0.3 0.3 0.4 0.2 0.3 0.2 0.2 12

13 Rest of the world 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Monetary authority 0.3 0.3 0.5 0.6 0.3 0.3 0.4 0.2 0.3 0.2 0.1 16

17 Monetary gold (2) -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Reserve position in IMF (net) 0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 18

19 Foreign currency holdings 0.3 0.4 0.5 0.6 0.3 0.3 0.4 0.2 0.3 0.2 0.2 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 Liab: Federal government 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 -0.0 -1.1 0.0 0.0 3

 4 Asset: Monetary authority 0.1 1.7 0.5 -0.0 4.0 0.9 0.2 1.8 0.8 0.5 1.0 4

 5 Discrepancy (seigniorage) 0.7 -1.1 -1.2 -0.8 -4.4 -1.1 -0.2 -1.8 -1.9 -0.5 -1.0 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total rest of the world liability 40.8 87.2 257.0 -402.1 -171.6 84.8 35.7 165.8 48.7 89.0 44.9 1

 Held by:

 2 Household sector 2.4 5.2 15.4 -24.1 -10.3 5.1 2.1 10.0 2.9 5.3 2.7 2

 3 Nonfinancial corporate business 9.9 -14.2 0.9 -25.5 6.9 40.5 26.4 43.6 42.1 49.8 -10.7 3

 4 Money market mutual funds 16.2 -10.6 43.2 2.0 -32.2 8.7 -18.7 0.1 45.8 7.7 6.6 4

 5 Discrepancy--unallocated assets 12.3 106.8 197.5 -354.4 -136.0 30.5 25.9 112.2 -42.1 26.1 46.3 5
40 Z.1, June 9, 2011

F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -12.4 -11.3 -97.5 1801.9 -607.9 -177.7 -240.4 -526.1 -281.7 337.3 2724.0 1

 2 Monetary authority 3.6 1.3 5.4 842.0 114.2 -11.1 334.9 -314.4 -166.8 101.7 1798.5 2

 3 Depository institution reserves -5.0 -0.3 2.1 839.2 117.0 -8.9 307.6 -321.5 -155.7 134.0 1755.7 3

 4 Vault cash 8.6 1.6 3.3 2.7 -2.8 -2.2 27.4 7.2 -11.1 -32.3 42.8 4

 5 Commercial banking -15.9 -12.5 -102.9 960.0 -722.1 -166.6 -575.3 -211.7 -114.9 235.6 925.5 5

 6 To monetary authority -0.0 -1.2 48.9 509.6 -463.7 -95.7 -338.5 -44.7 -0.0 0.3 -0.5 6

 7 To banks in foreign countries -12.3 -9.4 -153.6 419.8 -292.9 -50.6 -9.7 -34.1 -227.5 68.7 1020.6 7

 8 Liabilities, net -24.7 -9.1 -147.0 426.0 -303.0 -41.9 8.1 -18.7 -226.2 69.3 1026.9 8

 9 U.S.-chartered commercial banks 3.5 111.4 63.9 172.6 -108.3 -75.3 -354.2 -53.8 38.3 68.4 -118.0 9

10 Due to foreign affiliates 20.2 98.8 64.2 131.5 -20.0 20.8 1.1 72.2 3.0 6.8 -41.7 10

11 - Due from foreign affiliates 16.8 -12.6 0.3 -41.1 88.4 96.1 355.3 126.0 -35.3 -61.7 76.3 11

12 Foreign banking offices in U.S. -8.6 -79.2 -168.8 244.3 -171.1 44.0 393.5 -100.8 -186.7 70.1 1089.8 12

13 Due to foreign affiliates 59.6 190.6 4.5 7.4 2.3 96.3 154.0 -5.0 95.3 140.9 540.7 13

14 - Due from foreign affiliates 68.2 269.8 173.3 -236.9 173.4 52.3 -239.5 95.8 281.9 70.8 -549.1 14

15 Bank holding companies -19.6 -41.3 -42.2 9.1 -23.5 -10.6 -31.2 135.9 -77.9 -69.2 55.1 15

16 Due to foreign affiliates 9.2 -22.6 31.9 92.0 -15.7 -7.6 -33.9 74.6 -64.5 -6.5 77.2 16

17 - Due from foreign affiliates 28.9 18.7 74.1 83.0 7.8 3.0 -2.7 -61.3 13.4 62.7 22.2 17

18 Less: Deposits at foreign banks -12.4 0.3 6.6 6.2 -10.1 8.8 17.8 15.4 1.2 0.6 6.3 18

19 U.S.-chartered commercial banks -12.6 0.9 6.0 6.6 -15.2 5.7 9.1 14.9 -7.7 6.3 -0.1 19

20 Foreign banking offices in U.S. 0.2 -0.6 0.6 -0.4 5.1 3.1 8.7 0.5 8.9 -5.7 6.4 20

21 To U.S. banking, net -3.6 -1.9 1.8 30.6 34.4 -20.2 -227.1 -132.9 112.6 166.6 -94.6 21

22 U.S.-chartered commercial banks 0.5 -38.1 32.2 113.4 -4.9 -62.4 -300.6 -105.3 0.6 155.5 -19.9 22

23 Due to: -11.2 12.9 16.5 -16.9 8.3 -23.2 -247.9 -191.0 133.9 212.3 -64.2 23

24 Foreign offices in U.S. -7.2 14.8 15.4 -47.3 -22.2 -1.7 -24.2 -38.0 16.6 38.8 24.2 24

25 Bank holding companies -0.4 -0.0 -0.7 -0.1 -3.9 -1.3 3.3 -20.1 4.7 6.9 6.3 25

26 Unallocated -3.6 -1.9 1.8 30.6 34.4 -20.2 -227.1 -132.9 112.6 166.6 -94.6 26

27 Less, due from: -11.7 51.0 -15.7 -130.3 13.2 39.3 52.6 -85.6 133.3 56.7 -44.3 27

28 Foreign offices in U.S. -4.3 22.1 -6.3 -51.6 -4.7 5.6 0.3 6.7 22.6 -7.2 -6.4 28

29 Bank holding companies -7.4 29.0 -9.4 -78.7 17.9 33.7 52.4 -92.4 110.7 63.9 -37.9 29

30 Foreign banking offices in U.S. 2.8 7.2 -21.7 -4.3 17.5 7.3 24.4 44.8 6.0 -46.0 -30.5 30

31 Due to U.S. banks -4.3 22.1 -6.3 -51.6 -4.7 5.6 0.3 6.7 22.6 -7.2 -6.4 31

32 - Due from U.S. banks -7.2 14.8 15.4 -47.3 -22.2 -1.7 -24.2 -38.0 16.6 38.8 24.2 32

33 Bank holding companies -6.9 29.0 -8.7 -78.6 21.9 34.9 49.1 -72.3 106.0 57.0 -44.2 33

34 Due to U.S. banks -7.4 29.0 -9.4 -78.7 17.9 33.7 52.4 -92.4 110.7 63.9 -37.9 34

35 - Due from U.S. banks -0.4 -0.0 -0.7 -0.1 -3.9 -1.3 3.3 -20.1 4.7 6.9 6.3 35

36 Net change in assets -8.8 -9.3 -99.3 1771.4 -642.4 -157.5 -13.3 -393.2 -394.3 170.7 2818.6 36

37 Rest of the world -12.3 -9.4 -153.6 419.8 -292.9 -50.6 -9.7 -34.1 -227.5 68.7 1020.6 37

38 Domestic 3.5 0.1 54.2 1351.5 -349.5 -106.9 -3.6 -359.1 -166.8 102.0 1798.0 38

39 Monetary authority -0.0 -1.2 48.9 509.6 -463.7 -95.7 -338.5 -44.7 -0.0 0.3 -0.5 39

40 Federal Reserve float -0.0 -1.2 0.3 -1.5 -0.6 0.7 1.9 -1.3 1.5 0.6 0.2 40

41 Loans to member banks 0.0 -0.0 48.6 511.1 -463.1 -96.4 -340.4 -43.4 -1.5 -0.3 -0.7 41

42 Commercial banking 4.1 2.0 4.8 800.9 89.6 -24.5 246.9 -259.7 -186.7 101.6 1679.7 42

43 Reserves at Federal Reserve -4.5 0.4 1.5 798.1 92.4 -22.3 219.5 -266.9 -175.6 133.9 1636.9 43

44 Vault cash 8.6 1.6 3.3 2.7 -2.8 -2.2 27.4 7.2 -11.1 -32.3 42.8 44

45 Savings insts.: Reserves at Fed. Res. -0.5 -0.7 0.6 36.4 6.5 -0.7 39.2 -21.4 -14.2 -6.5 47.3 45

46 Credit unions: Reserves at Fed. Res. 0.0 0.0 0.0 4.7 18.1 14.1 48.9 -33.3 34.0 6.6 71.5 46

47 Discrepancy--floats, etc. -3.6 -1.9 1.8 30.6 34.4 -20.2 -227.1 -132.9 112.6 166.6 -94.6 47
Z.1, June 9, 2011 41

F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 4.4 -19.9 36.7 568.4 -7.9 266.3 29.4 418.7 126.8 490.4 -531.5 1

 2 Monetary authority 30.1 23.5 17.8 428.2 -117.6 185.0 94.0 346.2 69.9 230.1 -813.3 2

 3 Federal government cash and deposits -1.4 0.2 11.4 349.3 -173.8 149.0 100.0 287.0 81.0 128.2 -897.0 3

 4 Due to government-sponsored enterprises 0.9 -1.2 0.9 19.4 14.0 -21.6 -63.2 32.2 -93.5 37.9 -13.3 4

 5 Deposits due to foreign 0.0 0.0 -0.0 1.3 1.0 0.9 -3.0 -1.8 5.0 3.5 -12.8 5

 6 Currency outside banks 30.6 24.5 5.5 58.2 41.2 56.7 60.1 28.8 77.3 60.5 109.9 6

 7 Commercial banking -36.4 -35.9 13.3 141.4 85.0 76.6 -72.4 77.3 59.0 242.4 254.5 7

 8 Federal government deposits 7.0 -5.9 14.9 -39.5 0.3 -0.1 71.6 -91.2 -20.2 39.2 70.2 8

 9 Deposits due to foreign 6.4 9.2 5.2 33.6 -23.1 -0.2 3.9 6.0 -14.2 3.7 43.7 9

10 Private domestic deposits -49.8 -39.2 -6.9 147.3 107.7 76.9 -147.9 162.6 93.4 199.6 140.6 10

11 Savings institutions 3.8 0.9 4.5 -2.9 13.1 -0.8 1.5 -3.7 -3.0 2.1 6.4 11

12 Credit unions 7.0 -8.5 1.1 1.6 11.6 5.5 6.3 -1.1 1.0 15.8 20.9 12

13 Net change in assets 4.4 -19.9 36.7 568.4 -7.9 266.3 29.4 418.7 126.8 490.4 -531.5 13

14 Household sector -127.2 -43.8 -71.8 236.8 88.0 -106.5 -323.5 -84.0 -43.4 24.9 115.0 14

15 Nonfinancial business 150.5 -41.6 58.4 -104.9 98.0 219.9 278.9 136.7 209.1 255.0 83.1 15

16 Corporate 73.6 -116.9 -9.0 -109.2 136.0 241.7 307.5 161.7 232.2 265.3 88.7 16

17 Nonfarm noncorporate 76.3 73.1 65.7 3.3 -38.9 -22.3 -29.2 -25.6 -23.7 -10.9 -6.2 17

18 Farm 0.7 2.1 1.8 0.9 0.9 0.6 0.6 0.6 0.6 0.6 0.6 18

19 State and local governments 9.5 5.4 -4.8 8.5 19.2 6.7 2.7 13.6 8.0 2.3 14.0 19

20 Federal government 12.2 -2.7 25.1 313.1 -174.2 148.9 151.4 197.3 71.7 175.2 -847.9 20

21 Rest of the world 14.9 11.4 -5.4 64.0 -9.4 29.1 10.0 12.5 32.9 60.9 81.2 21

22 Checkable deposits 6.4 9.2 5.2 34.8 -22.0 0.7 0.9 4.1 -9.2 7.1 30.8 22

23 Currency 8.4 2.2 -10.7 29.2 12.6 28.3 9.1 8.4 42.1 53.8 50.3 23

24 Financial sectors -50.5 54.3 34.2 56.1 -29.2 -30.6 -106.5 144.1 -142.5 -17.6 2.4 24

25 Commercial banking -0.5 -0.1 -0.3 0.6 1.0 -0.9 -1.3 6.1 -0.5 -7.7 3.1 25

26 Savings institutions 2.4 -3.3 -0.5 -11.2 -4.2 -2.4 -14.8 17.5 9.9 -22.1 5.6 26

27 Credit unions -2.0 6.2 -1.1 -5.7 1.4 -6.3 -65.5 47.9 20.5 -28.0 -79.1 27

28 Property-casualty insurance companies -4.8 8.9 12.8 -14.8 -0.3 5.0 2.6 35.3 8.9 -26.8 4.8 28

29 Life insurance companies -5.5 8.3 2.3 24.4 -32.1 1.0 -12.0 40.3 6.9 -31.2 -17.6 29

30 Private pension funds 0.3 0.4 0.6 0.5 4.2 11.5 10.0 11.8 11.0 13.4 13.2 30

31 State and local govt. retirement funds -0.4 -2.7 4.8 -0.2 -0.0 -0.5 0.2 -1.0 -1.2 0.1 3.5 31

32 Money market mutual funds -1.4 7.5 -4.8 5.6 10.4 -3.7 -13.0 -1.9 3.5 -3.5 38.4 32

33 Government-sponsored enterprises -24.5 1.8 -2.7 39.7 11.1 -36.0 -1.6 0.4 -207.1 64.2 28.2 33

34 Finance companies -8.9 -1.6 0.4 0.3 0.5 -1.7 -4.4 1.1 -2.4 -0.9 1.6 34

35 REITs 1.4 4.9 -1.8 1.8 8.1 -2.9 -4.6 3.1 -5.7 -4.5 20.0 35

36 Brokers and dealers -6.4 24.0 24.5 15.1 -29.4 6.2 -2.2 -16.4 13.8 29.6 -19.4 36

37 Mail float -4.9 -3.0 1.0 -5.2 -0.3 -1.1 16.6 -1.5 -9.0 -10.3 20.8 37
42 Z.1, June 9, 2011

F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 598.9 608.2 599.9 334.2 375.4 116.1 -130.8 -225.6 558.5 262.5 204.8 1

 2 Small time and savings deposits 314.4 347.0 316.4 524.8 517.2 298.4 137.7 132.5 453.8 469.7 39.1 2

 3 Commercial banking 268.3 287.6 263.0 541.4 384.4 277.5 342.4 132.5 411.7 223.2 247.6 3

 4 U.S.-chartered commercial banks 262.9 277.8 255.0 540.2 382.9 276.9 342.2 145.5 334.4 285.3 219.6 4

 5 Foreign banking offices in U.S. 0.5 8.6 6.9 0.1 4.4 5.8 1.2 5.3 76.7 -60.2 27.7 5

 6 Banks in U.S.-affiliated areas 4.9 1.2 1.1 1.1 -2.9 -5.2 -1.0 -18.3 0.5 -1.9 0.3 6

 7 Savings institutions 34.0 28.9 27.6 -59.6 89.4 -5.2 -200.0 -32.8 -16.3 228.2 -196.3 7

 8 Credit unions 12.1 30.5 25.8 43.0 43.4 26.2 -4.8 32.8 58.4 18.2 -12.1 8

 9 Large time deposits (1) 284.4 261.2 283.4 -190.6 -141.8 -182.3 -268.5 -358.1 104.7 -207.2 165.6 9

10 Commercial banking 243.1 264.0 297.6 -97.6 -3.0 -204.9 -283.7 -372.9 72.1 -235.0 146.3 10

11 U.S.-chartered commercial banks 166.8 129.9 23.1 24.6 -174.0 -150.1 -67.3 -81.9 -128.0 -323.3 36.2 11

12 Foreign banking offices in U.S. 71.4 132.8 273.4 -123.2 173.9 -49.6 -215.5 -272.7 199.6 90.2 109.7 12

13 Banks in U.S.-affiliated areas 4.9 1.2 1.1 1.1 -2.9 -5.2 -1.0 -18.3 0.5 -1.9 0.3 13

14 Savings institutions 38.8 -5.2 -19.0 -93.5 -155.8 19.9 12.0 14.0 28.2 25.3 14.5 14

15 Credit unions 2.5 2.5 4.8 0.5 17.0 2.7 3.3 0.8 4.4 2.5 4.8 15

16 Net change in assets 598.9 608.2 599.9 334.2 375.4 116.1 -130.8 -225.6 558.5 262.5 204.8 16

17 Household sector 487.1 486.5 477.2 194.3 128.4 246.7 345.6 219.5 176.2 245.7 24.9 17

18 Nonfinancial business 73.4 66.9 -40.7 -60.7 81.4 -33.4 -144.6 -98.7 115.9 -6.0 128.6 18

19 Corporate 49.9 46.6 -55.7 -59.4 109.3 -17.3 -123.7 -80.3 133.0 1.8 133.1 19

20 Nonfarm noncorporate 23.5 20.3 14.9 -1.2 -28.0 -16.1 -21.0 -18.4 -17.0 -7.8 -4.4 20

21 State and local governments 12.8 26.2 36.4 19.1 10.8 -0.4 36.9 -36.1 11.5 -14.1 27.0 21

22 Federal government -1.0 0.2 1.2 -1.3 0.3 0.1 0.4 -0.7 -0.2 0.8 -1.8 22

23 Rest of the world 6.7 11.5 40.3 65.5 -43.5 3.3 -38.1 15.2 23.2 12.7 80.5 23

24 Financial sectors 19.9 16.8 85.6 117.3 198.0 -100.1 -330.9 -324.8 231.8 23.4 -54.5 24

25 Savings institutions -0.5 3.9 3.3 -1.6 7.0 -0.0 15.4 -3.9 -2.0 -9.5 23.1 25

26 Credit unions -4.5 -4.9 -0.0 11.4 9.5 5.4 7.3 5.2 6.5 2.6 -0.7 26

27 Private pension funds 6.3 0.8 4.6 0.3 4.7 4.4 4.0 5.0 3.3 5.4 3.8 27

28 State and local govt. retirement funds -0.1 -0.5 -0.1 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.1 28

29 Money market mutual funds 15.7 23.7 63.9 84.6 217.9 -105.2 -326.3 -343.9 238.0 11.6 -76.4 29

30 Government-sponsored enterprises 12.1 -1.5 12.8 21.9 -42.8 0.3 -18.0 9.8 -6.5 15.9 -9.3 30

31 Finance companies -9.1 -4.8 1.2 0.8 1.6 -5.0 -13.3 3.2 -7.3 -2.7 4.8 31

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

F.206 Money Market Mutual Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues 127.0 305.3 720.9 724.2 -499.0 -502.9 -1117.6 -552.7 -141.6 -199.9 -103.2 1

 2 Net purchases 127.0 305.3 720.9 724.2 -499.0 -502.9 -1117.6 -552.7 -141.6 -199.9 -103.2 2

 3 Household sector 45.2 165.2 232.2 235.1 -283.5 -147.1 -222.6 -71.2 -106.8 -187.8 346.5 3

 4 Nonfinancial corporate business 39.6 68.1 128.1 158.2 -56.5 -128.6 -311.4 -175.7 -10.3 -17.0 -80.5 4

 5 Nonfarm noncorporate business 2.4 3.2 2.2 1.0 -5.9 -3.4 -4.4 -3.9 -3.6 -1.7 -0.9 5

 6 State and local governments 5.1 6.8 3.4 -1.4 4.5 5.8 7.2 -2.9 8.3 10.5 0.5 6

 7 Rest of the world 0.1 4.1 19.0 23.7 11.0 3.2 3.2 3.2 3.2 3.2 3.2 7

 8 Property-casualty insurance companies -0.7 0.7 7.2 12.1 -3.2 -4.0 -17.2 -2.7 13.3 -9.3 8.4 8

 9 Life insurance companies -3.7 9.7 -1.6 17.5 -5.5 -12.7 -15.6 -13.1 -11.7 -10.4 11.3 9

10 Private pension funds 1.9 3.4 3.4 2.3 0.6 -0.1 0.2 0.0 -0.4 -0.2 -0.2 10

11 State and local govt. retirement funds 0.1 2.1 -1.4 1.9 -0.0 -0.4 0.2 -0.8 -0.9 0.1 2.9 11

12 Funding corporations 37.1 41.9 328.7 273.6 -160.4 -215.7 -557.2 -285.5 -32.7 12.7 -394.3 12
Z.1, June 9, 2011 43

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 315.2 403.2 8.1 -888.4 211.3 -199.8 78.0 -491.1 -341.6 -44.7 64.7 1

 2 Monetary authority -0.3 -0.9 14.4 44.4 -10.6 -18.0 -79.9 37.8 -13.7 -16.4 9.9 2

 3 Commercial banking (net) 90.3 70.5 -49.7 -355.7 265.2 -139.7 254.6 -128.4 -433.0 -252.2 -190.5 3

 4 U.S.-chartered commercial banks 57.0 21.4 -36.1 -259.0 244.9 -190.9 160.7 -160.3 -454.4 -309.5 -173.6 4

 5 Foreign banking offices in U.S. 33.4 49.0 -13.6 -96.3 40.3 52.9 108.8 62.3 54.6 -13.9 15.5 5

 6 Bank holding companies -0.2 0.1 0.1 -0.4 -19.9 -1.8 -15.0 -30.3 -33.2 71.2 -32.3 6

 7 Savings institutions -2.3 -19.2 -24.1 -0.0 1.8 -6.0 1.0 -14.8 -4.2 -6.2 -37.4 7

 8 Property-casualty insurance companies 0.1 -0.1 -0.7 1.9 -1.7 0.8 -0.6 0.7 -0.5 3.7 -3.4 8

 9 Life insurance companies 7.4 0.3 -1.1 -7.3 -0.5 -2.2 -13.1 2.8 4.5 -2.9 -3.0 9

10 REITs 13.2 14.4 -6.2 -11.2 14.6 31.5 -3.3 25.3 30.5 73.6 161.8 10

11 Brokers and dealers (net) 206.7 338.3 75.5 -560.3 -57.5 -66.2 -80.7 -414.5 74.7 155.7 127.4 11

12 Net change in assets 208.9 98.7 233.1 -301.3 -195.3 -115.3 -156.9 -273.5 60.4 -91.3 449.2 12

13 Nonfinancial corporate business 8.1 1.0 -7.5 -0.9 0.8 5.7 5.6 1.0 -8.7 25.0 -11.3 13

14 State and local governments 10.0 13.5 6.6 -2.7 8.8 11.4 14.1 -5.7 16.4 20.7 1.0 14

15 Rest of the world (net) 45.5 2.4 -35.2 -231.5 -83.8 -130.2 -249.0 -367.2 17.7 77.7 247.1 15

16 Monetary authority 13.8 -6.0 5.8 33.5 -80.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Savings institutions -0.1 9.3 27.3 -10.9 -22.7 -6.6 -10.1 -6.8 -3.2 -6.3 -3.6 17

18 Credit unions (net) 2.6 -1.6 -2.6 -4.8 2.4 -0.1 -0.2 0.1 -0.5 0.0 0.0 18

19 Property-casualty insurance companies 0.6 -0.7 1.7 0.8 0.1 -0.7 15.0 -8.8 -0.7 -8.3 -1.2 19

20 Life insurance companies -1.0 -0.1 0.2 5.2 2.2 0.7 4.4 -1.3 0.1 -0.6 -1.6 20

21 Private pension funds 1.0 0.8 3.4 7.3 3.1 0.9 0.3 -19.8 21.9 1.2 0.8 21

22 State and local govt. retirement funds -0.6 4.5 -2.5 1.8 -0.0 -0.6 0.4 -1.4 -1.5 0.1 4.7 22

23 Money market mutual funds 112.0 48.7 211.3 -63.5 -62.5 -0.5 -112.9 276.8 -10.2 -155.8 -109.5 23

24 Mutual funds 2.8 17.4 -0.6 -7.4 28.6 -15.8 -12.9 -90.0 29.4 10.3 297.7 24

25 Government-sponsored enterprises (net) 14.1 9.7 25.3 -28.2 7.6 20.6 188.4 -50.4 -0.3 -55.2 25.2 25

26 Funding corporations 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Discrepancy--unallocated assets 106.3 304.5 -225.0 -587.1 406.6 -84.5 234.9 -217.5 -402.0 46.6 -384.5 27

F.208 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total net issues, all types 245.1 317.1 -169.4 -189.0 -461.9 -79.9 -142.7 -253.7 331.1 -254.4 297.3 1

 2 Commercial paper 245.1 317.4 -169.4 -188.8 -461.9 -79.9 -142.7 -253.7 331.1 -254.4 297.3 2

 3 Nonfinancial corporate business -7.7 22.4 11.3 7.7 -73.1 24.5 50.3 62.7 43.8 -58.7 31.7 3

 4 Foreign issues in U.S. 38.6 98.4 -69.3 -71.0 59.4 -5.4 -24.2 -54.9 14.6 43.2 114.3 4

 5 Nonfinancial 15.7 -1.9 2.0 20.7 -15.2 2.5 32.1 -23.7 0.1 1.5 59.0 5

 6 Financial 22.9 100.3 -71.3 -91.7 74.5 -7.9 -56.3 -31.3 14.5 41.6 55.3 6

 7 Financial sectors 214.2 196.6 -111.4 -125.4 -448.2 -99.1 -168.7 -261.5 272.8 -238.9 151.3 7

 8 Commercial banking 4.0 20.9 35.0 -39.0 -18.1 -15.7 52.8 -28.0 -23.7 -63.9 20.7 8

 9 ABS issuers 148.3 162.9 -194.2 -83.9 -266.2 -37.7 -79.7 -69.1 88.9 -90.8 96.1 9

10 Finance companies -15.3 5.3 -15.1 -22.6 -38.8 1.7 46.9 -6.2 -27.2 -6.6 44.4 10

11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Funding corporations 77.1 7.5 62.9 20.1 -125.1 -47.4 -188.6 -158.2 234.8 -77.5 -9.8 12

13 Bankers’ acceptances (1) 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Net purchases, by sector 245.1 317.1 -169.4 -189.0 -461.9 -79.9 -142.7 -253.7 331.1 -254.4 297.3 14

15 Household sector 14.7 19.0 -10.2 -101.3 28.7 28.8 39.8 38.5 35.4 1.7 17.7 15

16 Nonfinancial corporate business 16.0 11.7 -53.2 -12.2 -0.4 16.4 48.3 -11.3 50.1 -21.5 21.7 16

17 State and local governments 13.1 17.6 -11.3 -63.5 -53.5 -25.1 -21.5 -47.5 -18.5 -13.0 -38.7 17

18 Rest of the world 9.9 46.7 -8.3 -45.1 -41.4 0.8 10.2 -26.8 20.6 -0.8 32.5 18

19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Commercial banking (1) 0.0 0.0 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Credit unions -0.0 0.2 -0.5 -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Property-casualty insurance companies 3.5 0.6 -3.1 5.8 -9.3 -1.9 5.1 -2.9 5.6 -15.5 2.6 23

24 Life insurance companies -3.0 4.3 13.1 -3.4 11.5 -8.9 -63.4 14.7 35.0 -21.8 -37.5 24

25 Private pension funds 3.0 0.2 -4.8 10.2 -10.5 -11.7 -19.7 -14.2 -4.3 -8.6 -0.8 25

26 State and local govt. retirement funds 0.1 7.6 -4.4 -12.5 -2.0 -1.6 0.5 -5.6 -1.5 0.1 4.6 26

27 Money market mutual funds 86.3 116.1 66.3 -56.1 -108.0 -116.3 -225.3 -154.5 4.1 -89.6 48.3 27

28 Mutual funds 2.9 17.4 -0.4 -62.5 28.6 -13.9 -11.5 -120.9 38.3 38.5 285.6 28

29 Government-sponsored enterprises 8.0 18.5 -4.7 14.1 3.0 0.2 -4.5 7.3 -7.5 5.3 -1.7 29

30 Brokers and dealers 12.2 4.1 22.8 -21.4 -24.2 -5.3 -12.2 -21.6 4.4 8.2 14.6 30

31 Funding corporations 78.4 53.1 -170.6 143.7 -268.7 58.6 111.5 90.9 169.4 -137.5 -51.4 31

(1) Excludes banks’ holdings of own acceptances.
44 Z.1, June 9, 2011

F.209 Treasury Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 307.3 183.7 237.5 1239.0 1443.7 1579.6 1601.5 2001.9 1395.4 1319.4 734.6 1

 2 Savings bonds 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -3.8 -2.8 -2.4 -4.2 -4.4 2

 3 Other Treasury issues 306.6 186.4 243.4 1241.4 1446.5 1582.9 1605.4 2004.6 1397.8 1323.6 739.0 3

 4 Net purchases 307.3 183.7 237.5 1239.0 1443.7 1579.6 1601.5 2001.9 1395.4 1319.4 734.6 4

 5 Household sector -102.6 -93.1 -43.5 157.0 390.5 338.2 123.7 985.9 -72.6 315.7 -1137.0 5

 6 Savings bonds 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -3.8 -2.8 -2.4 -4.2 -4.4 6

 7 Other Treasury issues -103.3 -90.3 -37.5 159.4 393.3 341.5 127.5 988.7 -70.2 319.9 -1132.6 7

 8 Nonfinancial corporate business 18.1 -6.7 -7.1 -7.9 8.7 -0.2 24.5 9.3 2.3 -37.0 39.2 8

 9 Nonfarm noncorporate business 6.0 0.2 3.0 -7.5 -4.0 -2.3 -3.0 -2.7 -2.5 -1.1 -0.6 9

10 State and local governments 92.3 45.5 7.1 -48.6 20.1 11.1 -7.8 7.0 16.4 28.7 -52.8 10

11 Rest of the world 245.1 150.3 165.3 710.1 583.9 680.5 676.7 692.9 1050.2 302.2 170.1 11

12 Monetary authority 26.4 34.7 -38.3 -264.7 300.7 244.9 105.9 -7.4 55.9 825.3 1390.8 12

13 Commercial banking -10.7 -2.1 17.4 -19.2 92.2 113.0 244.7 2.7 236.6 -31.9 -4.6 13

14 U.S.-chartered commercial banks -10.1 -2.2 11.1 -19.6 64.3 93.9 236.6 21.6 129.7 -12.3 -24.2 14

15 Foreign banking offices in U.S. 0.1 -1.0 3.6 5.1 25.9 4.7 6.5 -17.4 58.8 -29.0 33.8 15

16 Bank holding companies -0.9 1.4 4.6 -4.0 2.7 13.8 -0.1 -3.1 48.8 9.6 -14.2 16

17 Banks in U.S.-affiliated areas 0.1 -0.2 -1.9 -0.6 -0.7 0.6 1.6 1.5 -0.7 -0.2 0.0 17

18 Savings institutions 4.0 4.5 -5.4 -4.1 3.8 -0.9 1.5 -1.8 -2.7 -0.5 0.5 18

19 Credit unions -1.1 -0.3 3.0 -1.6 5.3 4.2 6.9 5.5 -25.8 30.3 10.2 19

20 Property-casualty insurance companies 0.3 3.1 -38.7 -5.6 22.9 3.2 -5.7 2.2 10.9 5.5 6.2 20

21 Life insurance companies 13.5 -7.6 -17.3 35.1 27.7 18.5 16.7 17.9 19.1 20.3 14.3 21

22 Private pension funds 3.5 14.3 38.7 15.4 125.8 176.0 123.6 263.0 238.2 79.0 72.0 22

23 State and local govt. retirement funds 2.8 2.4 -14.6 4.8 28.1 11.1 18.5 11.4 14.3 0.3 9.2 23

24 Federal government retirement funds 7.8 8.3 11.3 24.2 6.8 10.1 5.8 15.7 14.9 4.0 14.9 24

25 Money market mutual funds -9.6 -5.9 95.5 399.5 -171.3 -71.0 -58.0 -42.7 -173.6 -9.5 102.9 25

26 Mutual funds 6.6 5.0 18.5 8.7 67.6 41.9 57.7 33.7 64.0 12.4 12.3 26

27 Closed-end funds 0.3 0.2 -1.7 -2.4 1.2 0.7 2.5 -0.5 0.5 0.4 0.5 27

28 Exchange-traded funds 4.8 3.4 6.6 7.4 14.7 9.2 18.4 22.2 -0.8 -2.8 7.1 28

29 Government-sponsored enterprises 0.2 1.2 1.3 1.2 5.1 33.3 153.0 48.3 -10.6 -57.4 13.5 29

30 ABS issuers 19.7 28.7 29.3 -13.6 -18.3 -13.6 -16.7 -14.1 -14.4 -9.1 -16.7 30

31 Brokers and dealers -20.0 -2.4 7.1 250.6 -67.6 -28.5 112.7 -46.5 -24.8 -155.3 82.5 31

 Memo:

32 Federal government borrowing (1) 306.9 183.4 237.1 1239.2 1443.9 1580.2 1601.9 2003.0 1395.9 1320.2 735.8 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).
Z.1, June 9, 2011 45

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 80.0 327.9 905.3 768.9 -59.9 -46.2 71.3 3.5 -218.2 -41.4 224.5 1

 2 Budget agencies -0.4 -0.3 -0.4 0.2 0.1 0.7 0.3 1.1 0.5 0.8 1.2 2

 3 Government-sponsored enterprises -84.0 35.6 282.4 271.7 -475.3 -233.8 -60.1 -248.6 -372.1 -254.3 11.1 3

 4 Agency- and GSE-backed mortgage pools 164.5 292.6 623.3 497.0 415.3 186.9 131.1 251.0 153.4 212.1 212.3 4

 5 Net purchases 80.0 327.9 905.3 768.9 -59.9 -46.2 71.3 3.5 -218.2 -41.4 224.5 5

 6 Household sector 97.0 -66.4 334.3 95.6 -620.2 4.0 -138.0 -56.1 -47.0 257.1 373.9 6

 7 Nonfinancial corporate business 6.0 -2.2 -2.4 -2.6 2.9 -0.1 8.2 3.1 0.8 -12.3 13.1 7

 8 State and local governments 28.4 38.3 18.8 -7.6 -15.0 12.3 20.2 -36.3 26.8 38.8 -17.2 8

 9 Federal government 0.0 0.0 0.0 54.4 142.0 -47.2 -40.0 -44.3 -43.7 -60.7 -43.1 9

10 Rest of the world 134.3 224.0 248.8 -228.6 -175.0 -0.8 -46.2 155.2 -70.2 -41.8 27.2 10

11 Monetary authority 0.0 0.0 0.0 19.7 1048.5 71.4 677.7 180.8 -201.0 -372.2 -279.8 11

12 Commercial banking -5.4 45.9 -113.3 147.1 119.0 71.7 -35.5 -39.0 205.1 156.0 9.8 12

13 U.S.-chartered commercial banks -3.3 47.5 -111.4 139.7 148.4 87.3 -17.6 -24.2 186.7 204.4 19.9 13

14 Foreign banking offices in U.S. -0.9 4.2 2.0 -6.6 -18.4 -4.7 -2.5 -4.2 -0.8 -11.5 8.8 14

15 Bank holding companies -2.3 -0.0 -1.3 15.9 -7.0 -3.2 -7.0 -1.8 32.1 -36.2 4.6 15

16 Banks in U.S.-affiliated areas 1.2 -5.8 -2.7 -2.0 -3.9 -7.7 -8.4 -8.8 -12.9 -0.6 -23.5 16

17 Savings institutions 55.8 -13.4 0.3 -3.5 19.6 22.9 36.5 -11.2 16.0 50.5 14.3 17

18 Credit unions -6.8 -13.9 -4.1 14.4 27.9 34.8 36.7 31.5 21.7 49.4 50.6 18

19 Property-casualty insurance companies 5.8 4.1 3.8 -11.5 1.9 -0.4 -0.4 -0.4 -0.4 -0.4 1.7 19

20 Life insurance companies 11.4 8.8 5.5 -16.7 5.8 8.3 7.4 8.0 8.5 9.1 23.5 20

21 Private pension funds 16.8 16.6 28.2 21.3 -49.0 -98.1 -38.1 -194.5 -163.1 3.2 7.4 21

22 State and local govt. retirement funds -0.4 49.4 23.3 6.3 -30.5 -21.7 -23.6 -34.7 -29.1 0.4 14.1 22

23 Federal government retirement funds 0.0 0.1 0.3 0.0 0.6 0.7 0.5 1.0 2.6 -1.4 -0.5 23

24 Money market mutual funds -107.4 -28.7 104.5 520.3 -213.2 -140.1 -315.8 35.3 -108.0 -172.2 -129.2 24

25 Mutual funds 20.8 15.7 66.2 27.3 46.4 152.0 180.7 105.5 200.5 121.4 38.5 25

26 Government-sponsored enterprises -135.4 -37.1 -11.1 207.0 -27.4 -85.1 -180.4 -117.1 -50.6 7.8 -12.4 26

27 ABS issuers -30.6 24.8 26.3 -28.1 -227.5 -107.8 -161.0 -143.2 -89.3 -37.5 -70.0 27

28 REITs -4.0 24.8 23.5 1.6 15.3 38.0 16.0 22.4 55.5 58.2 189.1 28

29 Brokers and dealers -6.3 37.0 152.2 -47.5 -131.8 38.9 66.5 137.5 46.6 -94.9 13.7 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.
46 Z.1, June 9, 2011

F.211 Municipal Securities and Loans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 195.0 177.4 215.6 61.4 128.7 116.4 152.6 -40.9 146.4 207.3 -62.7 1

 2 State and local governments 171.3 153.1 190.4 50.6 108.3 104.1 133.0 -34.4 128.6 189.1 -72.0 2

 3 Short-term (1) 5.7 -3.1 17.3 12.5 2.9 14.5 3.0 -28.9 35.8 47.9 -1.4 3

 4 Long-term 165.6 156.2 173.1 38.1 105.4 89.6 129.9 -5.5 92.8 141.3 -70.6 4

 5 Nonprofit organizations (2) 16.0 18.9 17.1 8.1 14.9 4.0 13.6 -6.1 4.7 4.0 6.5 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) 7.6 5.4 8.1 2.7 5.5 8.3 6.0 -0.4 13.1 14.2 2.9 6

 7 Net change in assets 195.0 177.4 215.6 61.4 128.7 116.4 152.6 -40.9 146.4 207.3 -62.7 7

 8 Household sector 78.6 50.8 24.0 7.8 105.8 74.2 152.7 -52.1 42.8 153.3 3.6 8

 9 Nonfinancial corporate business 0.3 -4.0 1.1 -3.0 1.1 -3.6 -4.8 -10.8 4.7 -3.4 11.0 9

10 Nonfarm noncorporate business 0.1 1.3 -0.5 -0.4 -0.4 -0.2 -0.3 -0.3 -0.2 -0.1 -0.1 10

11 State and local governments 0.4 0.5 0.2 -0.1 0.3 0.4 0.5 -0.2 0.6 0.7 0.0 11

12 Rest of the world 3.0 5.4 10.7 5.4 6.5 16.0 16.0 16.0 16.0 16.0 8.8 12

13 Commercial banking 16.9 22.6 12.7 23.7 1.9 27.5 -1.2 -7.0 34.7 83.5 18.5 13

14 Savings institutions 1.5 2.5 -0.1 -3.3 1.5 1.8 1.4 1.9 0.4 3.6 -0.9 14

15 Property-casualty insurance companies 45.4 22.1 36.1 10.6 -12.6 -21.0 -21.5 -21.1 -20.8 -20.5 5.2 15

16 Life insurance companies 2.4 4.1 4.8 5.7 26.1 40.2 33.7 37.7 42.2 47.2 7.0 16

17 State and local govt. retirement funds -0.2 1.6 -0.8 -1.0 0.0 0.1 0.0 0.0 0.3 0.0 0.2 17

18 Money market mutual funds 23.0 33.5 100.7 23.6 -93.3 -66.9 -128.2 -34.4 -65.7 -39.5 -56.5 18

19 Mutual funds 17.4 32.7 27.8 17.4 90.6 46.4 85.2 50.9 74.4 -24.9 -40.1 19

20 Closed-end funds 0.2 0.0 1.9 -13.3 2.9 -0.6 0.9 0.6 1.9 -5.9 -2.6 20

21 Exchange-traded funds 0.0 0.0 0.6 1.7 3.6 1.7 2.6 2.9 2.2 -0.8 -0.6 21

22 Government-sponsored enterprises -4.9 -3.6 -2.8 -2.0 -2.2 -4.2 -4.2 -3.5 -3.8 -5.2 -4.3 22

23 Brokers and dealers 10.9 8.0 -0.7 -11.4 -3.3 4.6 19.6 -21.3 16.8 3.2 -12.0 23

(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; quarterly figures are seasonally adjusted annual rates

 1 Net issues 864.2 1249.9 1233.1 -227.6 -68.2 -109.6 -402.4 -377.4 289.1 52.3 -2.1 1

 2 Nonfinancial corporate business 56.7 215.6 311.2 204.6 377.2 419.9 432.4 231.6 510.8 504.6 377.5 2

 3 Rest of the world (1) 64.5 227.8 218.7 -158.9 144.9 88.6 141.4 -7.3 135.0 85.1 55.6 3

 4 Financial sectors 743.0 806.5 703.2 -273.3 -590.3 -618.0 -976.3 -601.7 -356.7 -537.4 -435.3 4

 5 Commercial banking 56.7 75.3 119.5 131.0 -20.5 -55.9 -154.1 -73.4 202.1 -198.1 -17.2 5

 6 Savings institutions 1.0 2.0 -0.3 -8.0 -0.2 -3.6 -12.4 -0.8 -0.9 -0.2 -2.1 6

 7 ABS issuers (net) (3) 581.1 644.8 538.5 -325.3 -491.4 -488.0 -584.5 -477.5 -573.8 -316.2 -373.3 7

 8 Finance companies 43.6 42.4 -2.8 -49.6 -87.0 -110.7 -284.6 -94.6 -46.1 -17.5 -86.4 8

 9 REITs 32.8 13.9 0.7 -55.1 -25.0 6.5 25.6 10.9 28.4 -39.0 10.1 9

10 Brokers and dealers 0.1 6.4 -4.0 32.3 -4.2 36.9 -2.4 34.6 -19.2 134.4 -6.1 10

11 Funding corporations 27.6 21.6 51.5 1.4 37.9 -3.2 36.1 -0.9 52.8 -100.8 39.8 11

12 Net purchases 864.2 1249.9 1233.1 -227.6 -68.2 -109.6 -402.4 -377.4 289.1 52.3 -2.1 12

13 Household sector 119.6 196.9 218.3 -213.3 -146.7 -331.9 -538.5 -469.8 -509.2 190.1 -218.6 13

14 State and local governments 9.0 12.1 6.0 -2.4 7.9 10.3 12.7 -5.2 14.8 18.6 0.9 14

15 Federal government 0.0 0.0 0.0 0.0 0.6 0.3 0.1 0.3 0.4 0.5 -0.0 15

16 Rest of the world (2) 328.5 541.0 424.6 -21.8 -139.4 -42.6 -122.1 -91.4 52.0 -9.0 -6.0 16

17 Commercial banking 123.4 93.3 197.9 1.7 -114.2 -95.2 -186.0 -105.6 538.4 -627.6 -81.6 17

18 Savings institutions 21.0 13.2 49.5 -33.7 -24.0 -10.5 -13.6 -0.8 -18.9 -8.8 -12.2 18

19 Credit unions -1.5 7.2 3.9 -8.9 -7.0 -18.6 -0.6 -0.4 -27.4 -46.2 0.0 19

20 Property-casualty insurance companies 17.5 14.2 5.9 -15.4 30.8 24.3 23.6 24.1 24.6 25.0 4.8 20

21 Life insurance companies 74.7 29.7 43.1 -45.5 97.6 102.3 99.8 101.2 103.3 104.9 125.1 21

22 Private pension funds 22.2 27.7 39.8 42.7 42.8 40.6 38.5 38.2 28.7 56.9 55.3 22

23 State and local govt. retirement funds 14.5 55.5 13.6 15.9 -4.3 3.8 0.5 11.3 1.5 1.9 7.0 23

24 Federal government retirement funds -0.0 -0.0 0.1 -0.1 0.1 0.2 0.2 0.3 1.4 -1.1 -0.6 24

25 Money market mutual funds 2.2 105.1 8.5 -148.8 -58.1 -15.7 24.4 -29.7 -36.3 -21.0 -2.3 25

26 Mutual funds 65.9 104.3 123.0 69.9 146.2 147.0 197.3 93.2 177.6 120.1 240.5 26

27 Closed-end funds 1.7 5.7 -1.0 -25.3 5.3 4.1 6.6 -8.2 6.8 11.4 10.2 27

28 Exchange-traded funds 1.9 2.4 6.2 13.9 27.6 18.7 20.2 20.3 33.7 0.4 23.1 28

29 Government-sponsored enterprises 50.9 16.1 -17.4 -77.7 -33.8 -16.9 55.8 -47.0 -18.9 -57.7 -36.6 29

30 Finance companies -52.5 -18.7 4.5 3.0 6.3 -19.6 -51.9 12.3 -28.6 -10.3 18.8 30

31 REITs 17.0 11.6 -30.2 -20.0 3.2 4.8 7.7 2.3 7.1 2.3 9.8 31

32 Brokers and dealers 77.7 39.8 27.3 -259.0 47.5 33.2 14.8 -1.1 38.8 80.3 34.6 32

33 Funding corporations -29.4 -7.1 109.6 497.3 43.6 51.9 8.4 78.4 -100.9 221.6 -174.4 33

(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.
Z.1, June 9, 2011 47

F.213 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net issues -76.6 -368.6 -460.2 263.4 313.4 -9.3 -119.3 220.5 -62.4 -76.0 -58.3 1

 2 Nonfinancial corporate business -341.8 -565.7 -786.8 -336.0 -64.6 -279.2 -200.2 -215.2 -338.4 -363.1 -331.9 2

 3 Rest of the world (2) 186.7 137.3 147.8 -39.0 63.3 78.6 43.1 88.6 67.0 115.7 173.6 3

 4 Financial sectors 78.5 59.7 178.9 638.4 314.6 191.3 37.8 347.0 209.0 171.4 100.0 4

 5 Commercial banking -13.8 -10.5 -23.8 331.8 78.8 31.2 16.2 39.1 62.0 7.6 21.2 5

 6 Savings institutions 2.2 0.8 3.3 1.7 1.5 0.5 0.7 0.2 0.6 0.4 0.6 6

 7 Property-casualty insurance companies -2.8 -8.5 -13.2 0.4 -5.3 -12.7 -23.6 -3.8 -10.0 -13.4 -11.1 7

 8 Life insurance companies -8.0 -20.0 -30.6 -10.7 -0.9 -4.8 -7.6 -13.3 7.8 -6.1 -8.7 8

 9 Closed-end funds 20.7 8.2 17.9 -62.7 5.9 0.6 -2.8 6.8 13.4 -15.0 3.3 9

10 Exchange-traded funds 56.7 74.0 150.5 177.2 116.5 117.8 27.9 123.5 133.2 186.7 94.4 10

11 REITs 16.1 22.2 17.1 12.8 24.2 28.2 10.9 33.2 24.4 44.4 63.6 11

12 Government-sponsored enterprises 4.2 1.1 25.5 27.6 96.0 38.1 58.6 76.1 10.6 6.9 8.0 12

13 Brokers and dealers 3.3 -7.6 32.3 120.2 -32.4 -11.1 -52.6 83.9 -34.4 -41.4 -11.0 13

14 Funding corporations (3) 0.0 0.0 0.0 40.0 30.5 3.5 10.0 1.3 1.3 1.3 -60.4 14

15 Net purchases -76.6 -368.6 -460.2 263.4 313.4 -9.3 -119.3 220.5 -62.4 -76.0 -58.3 15

16 Household sector -372.5 -585.0 -847.9 -112.4 111.2 -89.9 -16.0 138.3 -64.8 -417.3 -141.1 16

17 State and local governments 2.5 -4.4 2.7 22.9 17.6 -25.3 -48.5 20.5 -37.2 -36.0 -25.2 17

18 Federal government 0.0 0.0 0.0 256.3 0.6 15.1 -14.4 65.7 10.7 -1.7 68.7 18

19 Rest of the world (4) 56.9 96.2 218.5 104.7 131.8 93.2 108.5 9.6 121.1 133.5 172.3 19

20 Monetary authority 0.0 0.0 0.0 0.0 25.1 1.3 1.2 1.3 1.3 1.3 -105.5 20

21 Commercial banking 0.1 0.7 1.6 2.4 6.8 -0.5 5.7 -6.8 -5.4 4.7 -4.0 21

22 Savings institutions -1.0 -1.0 -0.1 -1.5 -0.5 -1.3 -9.0 -1.5 0.7 4.8 -5.5 22

23 Property-casualty insurance companies -6.1 2.3 0.5 35.1 -2.4 -20.9 -43.1 -2.1 -22.2 -16.3 1.9 23

24 Life insurance companies 65.9 71.4 84.1 81.8 33.4 45.6 66.5 62.6 26.6 26.6 30.1 24

25 Private pension funds -42.0 -86.5 -188.3 -184.6 -175.6 -111.1 -134.8 -111.1 -111.4 -87.0 -79.6 25

26 State and local govt. retirement funds -5.6 -70.0 -6.4 1.2 -17.3 -25.8 -27.3 -38.2 -27.4 -10.2 -82.8 26

27 Federal government retirement funds 7.0 6.3 2.7 -8.6 8.8 5.2 8.4 0.6 -4.2 16.2 0.0 27

28 Mutual funds 129.6 131.3 91.3 -38.1 86.3 37.7 73.7 -15.8 -13.2 106.2 129.4 28

29 Closed-end funds 18.5 2.2 18.7 -21.6 -3.5 -3.6 -12.7 14.9 4.3 -21.0 -4.8 29

30 Exchange-traded funds 50.0 68.3 137.2 154.2 70.5 88.2 -13.3 78.1 98.0 189.9 64.7 30

31 Brokers and dealers 20.1 -0.2 25.4 -28.5 -4.6 -18.5 -65.4 3.2 -40.7 28.9 28.6 31

32 Funding corporations 0.0 0.0 0.0 0.0 25.1 1.3 1.2 1.3 1.3 1.3 -105.5 32

(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) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC.

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

F.214 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues 260.2 336.8 364.7 31.0 490.5 384.2 544.7 35.5 544.1 412.5 963.6 1

 2 Net purchases 260.2 336.8 364.7 31.0 490.5 384.2 544.7 35.5 544.1 412.5 963.6 2

 3 Household sector 173.5 165.4 208.5 15.2 363.1 322.3 434.7 -58.0 535.5 377.0 902.8 3

 4 Nonfinancial corporate business 1.5 24.9 0.2 -6.1 40.4 16.7 16.7 16.7 16.7 16.7 16.7 4

 5 State and local governments 0.8 -1.3 0.5 14.3 -7.2 -7.4 -5.1 -4.6 -10.2 -9.8 -7.1 5

 6 Rest of the world 32.2 45.2 38.2 -2.0 17.7 17.8 28.7 5.3 22.6 14.4 48.1 6

 7 Commercial banking -1.8 3.9 3.6 1.3 14.8 -5.8 -18.5 4.7 -9.5 -0.2 -1.6 7

 8 Credit unions -1.0 -0.1 -0.0 -0.0 -0.7 0.2 0.9 0.0 -0.0 -0.1 0.6 8

 9 Property-casualty insurance companies 0.3 0.5 -0.5 -0.4 0.1 -0.1 -0.0 -0.0 -0.1 -0.1 -0.2 9

10 Life insurance companies -9.9 26.9 31.3 -10.7 0.0 1.0 1.0 1.0 1.0 1.0 1.0 10

11 Private pension funds 70.0 74.9 88.1 20.5 64.8 43.4 90.3 76.0 -8.0 15.2 15.4 11

12 State and local govt. retirement funds -5.5 -3.4 -5.2 -1.1 -2.5 -3.8 -4.0 -5.6 -4.0 -1.5 -12.1 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
48 Z.1, June 9, 2011

F.215 Bank Loans Not Elsewhere Classified

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 Total loans by commercial

 1 banking, flow of funds basis 567.8 677.5 671.7 377.1 -576.0 -306.9 -292.5 -401.8 -190.7 -342.7 -121.7 1

 - Loans elsewhere classified:

 2 Open market paper 0.0 0.0 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Mortgages 362.4 445.0 241.4 197.0 -22.7 -195.4 -249.2 -332.0 28.1 -228.5 -301.0 3

 4 Consumer credit 2.8 34.2 62.9 74.5 -50.6 -73.7 26.5 -50.5 -128.5 -142.1 -38.6 4

 5 Security credit 34.8 71.5 32.3 -113.5 -59.9 22.7 8.0 61.3 6.7 14.9 -56.3 5

 6 = Banking sector total bank loans n.e.c. 167.8 126.9 335.1 203.3 -427.1 -60.6 -77.7 -80.7 -97.0 13.0 274.2 6

 7 U.S.-chartered commercial banks 98.7 62.9 233.7 137.9 -298.1 -45.4 -102.7 -54.4 -73.5 48.9 146.0 7

 8 Foreign banking offices in U.S. 60.7 67.1 105.0 65.1 -125.4 -16.1 19.0 -21.1 -24.2 -38.0 96.3 8

 9 Bank holding companies 2.7 -2.9 0.7 2.0 -3.2 4.3 10.0 5.6 0.2 1.3 32.0 9

10 Banks in U.S.-affiliated areas 5.6 -0.3 -4.2 -1.7 -0.3 -3.3 -4.0 -10.7 0.5 0.8 -0.1 10

11 + Loans from Federal Reserve banks 0.0 0.0 0.0 490.4 -347.6 -44.8 -21.6 -39.9 -85.8 -31.8 -115.7 11

12 = Total bank loans n.e.c. 167.8 126.9 335.1 693.7 -774.6 -105.4 -99.3 -120.6 -182.8 -18.8 158.5 12

13 Net change in liabilities 167.8 126.9 335.1 693.7 -774.6 -105.4 -99.3 -120.6 -182.8 -18.8 158.5 13

14 Nonfinancial sectors 149.0 189.2 264.2 197.7 -307.2 -15.2 -8.2 -38.4 -62.1 48.0 197.3 14

15 Household sector 9.7 49.9 13.4 18.0 30.0 76.5 224.2 32.4 52.7 -3.3 10.6 15

16 Corporate business -33.9 9.2 85.1 53.7 -130.6 -32.1 -26.1 11.1 -81.0 -32.4 107.8 16

17 Nonfarm noncorporate business 156.5 113.0 139.4 117.7 -195.4 -77.1 -202.6 -96.2 -62.1 52.3 36.2 17

18 Farm business 2.2 3.3 2.3 3.2 -0.1 -0.3 -3.2 0.5 0.1 1.5 -5.2 18

19 Rest of the world 14.5 13.8 24.1 5.1 -11.2 17.9 -0.5 13.8 28.2 29.9 47.9 19

20 Foreign official institutions -2.9 -0.7 -0.0 0.7 0.6 1.1 -0.7 1.1 1.0 3.0 -0.1 20

21 Foreign banks 4.7 3.8 8.3 2.8 -5.1 11.8 10.2 10.7 4.1 22.3 24.2 21

22 Other foreign 12.7 10.7 15.8 1.6 -6.6 4.9 -9.9 2.0 23.1 4.6 23.8 22

23 Financial sectors 18.8 -62.3 70.9 496.1 -467.4 -90.2 -91.2 -82.2 -120.7 -66.7 -38.8 23

24 Savings institutions 5.2 -44.5 13.3 13.0 -29.8 -1.2 1.4 -10.3 8.6 -4.4 5.7 24

25 Finance companies 5.2 -12.9 52.8 -7.1 -30.4 -64.9 -63.6 -44.8 -98.3 -52.9 45.1 25

26 REITs 8.4 -5.0 4.8 -0.3 -12.1 -2.2 -8.6 -6.2 3.7 2.4 4.2 26

27 Brokers and dealers 0.0 0.0 0.0 45.5 -45.5 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Funding corporations 0.0 0.0 0.0 444.9 -349.6 -21.9 -20.4 -20.9 -34.7 -11.8 -93.8 28
Z.1, June 9, 2011 49

F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances 159.1 173.6 533.6 106.7 -436.6 -242.7 -272.3 -239.4 -370.6 -88.4 -71.0 1

 2 U.S. government loans -7.0 0.6 -2.2 6.1 66.1 3.6 14.4 -1.6 3.7 -1.9 8.9 2

 3 Liab.: Household sector -0.7 1.4 -0.4 0.3 -0.2 -1.0 -0.2 -1.2 -0.0 -2.5 -0.3 3

 4 Nonfinancial corporate business 0.8 1.2 -0.3 4.4 59.4 -4.4 -1.4 -14.7 3.1 -4.8 5.4 4

 5 Nonfarm noncorporate business -2.9 4.8 1.2 2.1 3.3 0.3 2.9 1.3 -2.5 -0.8 2.2 5

 6 Farm business -0.2 -0.1 -0.0 0.0 0.5 0.4 0.4 0.9 0.6 -0.0 0.1 6

 7 State and local governments 0.6 0.6 0.7 0.8 0.8 0.9 0.6 0.4 0.5 2.0 0.4 7

 8 Rest of the world -4.6 -7.4 -3.3 -1.5 0.3 0.3 1.5 -1.1 0.1 0.7 0.6 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Funding corporations 0.0 0.0 0.0 0.0 2.0 7.2 10.7 12.8 1.9 3.4 0.6 11

12 Foreign loans to U.S. corporate business 31.3 6.2 102.7 -64.1 -24.9 -21.3 48.6 27.7 -142.8 -18.6 44.7 12

13 Liab.: Nonfinancial corporate business 31.3 6.2 102.7 -64.1 -24.9 -21.3 48.6 27.7 -142.8 -18.6 44.7 13

 Customers’ liability on acceptances

14 outstanding (Commercial banking asset) 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Liab.: Nonfinancial corporate business 0.0 -0.3 -0.1 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Rest of the world -0.0 -0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Savings institution loans to business 3.9 6.0 6.2 6.4 -14.5 6.4 -1.2 -3.7 27.2 3.5 0.7 17

18 Liab.: Nonfinancial corporate business 1.9 3.0 3.1 3.2 -7.2 3.2 -0.6 -1.9 13.6 1.7 0.3 18

19 Nonfarm noncorporate business 1.9 3.0 3.1 3.2 -7.2 3.2 -0.6 -1.9 13.6 1.7 0.3 19

20 Credit unions loans to business 1.0 0.9 0.0 2.7 2.7 0.8 -4.1 5.0 2.7 -0.5 -3.7 20

21 Liab.: Nonfinancial corporate business 0.5 0.4 0.0 1.4 1.4 0.4 -2.0 2.5 1.3 -0.3 -1.9 21

22 Nonfarm noncorporate business 0.5 0.4 0.0 1.4 1.4 0.4 -2.0 2.5 1.3 -0.3 -1.9 22

23 Policy loans (Household liability) 0.8 3.3 3.6 5.9 0.7 3.4 2.5 2.8 4.6 3.8 1.2 23

24 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 24

25 Life insurance companies 0.8 3.4 3.6 5.9 0.7 3.4 2.5 2.8 4.6 3.8 1.3 25

26 Govt.-sponsored enterprises loans (1) 52.4 33.1 237.7 38.1 -284.8 -144.7 -171.5 -152.2 -258.7 3.8 -111.5 26

27 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Noncorporate business (FCS) 1.9 4.2 4.3 24.8 3.1 1.3 -8.5 4.4 6.0 3.4 -45.2 28

29 Farm business (FCS) 6.1 7.7 7.7 -20.1 -3.3 6.0 -1.5 -5.2 20.9 9.5 -19.3 29

30 Commercial banks (FHLB and SLMA) 24.4 80.0 106.7 71.0 -124.2 -124.1 -89.1 -125.8 -185.8 -95.8 14.0 30

31 Savings institutions (FHLB and SLMA) 16.2 -65.7 91.1 -72.2 -139.6 -24.2 -57.3 -24.0 -99.4 83.9 -53.1 31

32 Credit unions (FHLB) 3.3 4.2 13.4 8.3 -14.1 -0.4 -4.4 -1.6 0.8 3.6 -9.6 32

33 Life insurance companies (FHLB) 0.4 2.7 14.5 26.2 -6.6 -3.2 -10.8 0.0 -1.2 -0.8 1.8 33

34 Securitized loans held by ABS issuers -17.6 3.8 -4.0 -15.6 -23.7 -5.0 -18.0 -1.9 13.5 -13.6 -15.3 34

35 Liab.: Nonfinancial corporate business -17.6 3.8 -4.0 -15.6 -23.7 -5.0 -18.0 -1.9 13.5 -13.6 -15.3 35

36 Finance company loans to business 27.6 18.9 24.9 16.9 -91.0 -19.0 -62.7 -48.6 46.4 -11.2 -21.2 36

37 Liab.: Nonfinancial corporate business 24.9 17.0 22.4 15.2 -81.9 -17.1 -56.4 -43.7 41.7 -10.1 -19.1 37

38 Nonfarm noncorporate business 2.8 1.9 2.5 1.7 -9.1 -1.9 -6.3 -4.9 4.6 -1.1 -2.1 38

39 Loans to nonfinancial corporate business (2) 66.6 101.1 164.6 110.5 -67.1 -67.0 -80.4 -67.0 -67.0 -53.6 25.2 39

40 Asset: Household sector 2.7 0.4 8.5 12.2 -5.3 0.1 0.1 0.1 0.1 0.1 0.0 40

41 Life insurance companies 4.2 6.5 9.6 14.3 -13.3 -3.6 -4.3 -3.6 -3.6 -2.9 1.2 41

42 Mutual funds 10.5 9.8 36.1 12.4 1.3 0.8 0.9 0.8 0.8 0.6 -0.3 42

43 ABS issuers 37.8 61.2 92.6 53.4 -27.4 -51.8 -62.2 -51.8 -51.8 -41.5 20.7 43

44 Brokers and dealers 7.7 19.8 11.1 3.1 -12.7 -10.7 -12.9 -10.7 -10.7 -8.6 4.3 44

45 Funding corporations 3.6 3.4 6.7 15.1 -9.8 -1.7 -2.1 -1.7 -1.7 -1.4 -0.7 45

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

(2) Syndicated loans from domestic entities, excluding banks and finance companies which are included elsewhere.
50 Z.1, June 9, 2011

F.217 Total Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net change in mortgages 1433.9 1389.3 1051.9 89.8 -285.4 -500.5 -724.9 -492.0 -491.8 -293.4 -425.4 1

 2 Home 1114.2 1071.7 710.4 -106.6 -207.9 -329.3 -593.3 -287.9 -302.9 -133.1 -366.0 2

 3 Multifamily residential 62.3 40.7 79.3 46.0 11.5 -8.9 -24.1 -13.8 6.2 -4.2 0.4 3

 4 Commercial 248.2 273.7 257.5 129.5 -90.0 -160.1 -105.3 -188.2 -192.9 -153.8 -60.1 4

 5 Farm 9.1 3.3 4.6 20.9 0.9 -2.3 -2.2 -2.2 -2.3 -2.3 0.2 5

 6 Net borrowing 1433.9 1389.3 1051.9 89.8 -285.4 -500.5 -724.9 -492.0 -491.8 -293.4 -425.4 6

 7 Household sector 1048.3 1010.5 689.4 -37.9 -162.7 -301.5 -547.4 -247.6 -285.4 -125.7 -347.4 7

 8 Nonfinancial business 371.5 372.3 357.9 120.9 -126.0 -205.9 -178.3 -246.4 -209.5 -189.5 -89.3 8

 9 Corporate 191.5 87.7 48.9 -70.9 -31.3 -79.1 -34.2 -85.7 -88.4 -108.3 -46.4 9

10 Nonfarm noncorporate 170.9 281.3 304.3 170.9 -95.7 -124.5 -141.9 -158.5 -118.8 -78.9 -43.2 10

11 Farm 9.1 3.3 4.6 20.9 0.9 -2.3 -2.2 -2.2 -2.3 -2.3 0.2 11

12 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 REITs 14.1 6.6 4.7 6.8 3.4 6.9 0.8 1.9 3.1 21.8 11.2 13

14 Net change in assets 1433.9 1389.3 1051.9 89.8 -285.4 -500.5 -724.9 -492.0 -491.8 -293.4 -425.4 14

15 Household sector 8.1 -17.3 -12.3 2.0 -9.3 -10.9 -6.0 -13.0 -11.9 -12.5 -7.8 15

16 Nonfinancial corporate business 1.7 -8.4 -18.4 -7.7 -3.3 -3.3 -3.3 -3.3 -3.3 -3.3 -3.3 16

17 Nonfarm noncorporate business 5.3 -1.5 7.4 -3.0 -3.1 -1.8 -2.3 -2.0 -1.9 -0.9 -0.5 17

18 State and local governments 10.8 14.5 6.4 -3.2 9.4 5.1 15.1 -6.1 6.3 5.2 6.2 18

19 Federal government 2.4 3.7 2.1 13.5 12.6 -1.8 -5.2 5.2 -7.2 0.0 4.9 19

20 Commercial banking 362.4 445.0 241.4 197.0 -22.7 -195.4 -249.2 -332.0 28.1 -228.5 -301.0 20

21 Savings institutions (1) 95.3 -77.2 17.2 -233.4 -227.3 -18.5 -177.6 13.3 -84.3 174.7 -236.6 21

22 Credit unions 31.3 30.1 31.8 33.2 3.2 2.8 21.0 -3.6 8.9 -15.0 18.1 22

23 Property-casualty insurance companies 0.3 0.7 1.3 0.2 -0.5 -0.3 -0.7 -0.1 -0.1 -0.4 -0.2 23

24 Life insurance companies 12.1 18.3 22.4 16.3 -16.3 -8.6 -12.1 -15.3 -2.0 -5.1 10.5 24

25 Private pension funds -0.2 -0.3 0.7 0.9 2.6 1.3 3.9 4.5 -2.1 -1.0 -1.0 25

26 State and local govt. retirement funds 1.3 -2.0 -4.7 -0.3 -0.1 0.1 0.3 -0.2 0.4 0.0 -0.8 26

27 Government-sponsored enterprises (1) -40.2 18.4 35.9 58.3 6.2 -110.8 -134.7 -56.6 -200.7 -51.4 100.5 27

28 Agency- and GSE-backed mortgage pools 164.5 292.6 623.3 497.0 415.3 186.9 131.1 251.0 153.4 212.1 212.3 28

29 ABS issuers 685.3 630.0 174.5 -351.5 -384.8 -280.9 -244.0 -292.6 -300.0 -287.2 -178.4 29

30 Finance companies 65.4 53.0 -62.5 -84.0 -50.5 -56.9 -53.8 -34.3 -68.0 -71.4 -45.1 30

31 REITs 28.1 -10.3 -14.5 -45.5 -16.6 -7.6 -7.3 -7.0 -7.4 -8.9 -3.4 31

(1) FHLB loans to savings institutions are included in other loans and advances.
Z.1, June 9, 2011 51

F.218 Home Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing 1114.2 1071.7 710.4 -106.6 -207.9 -329.3 -593.3 -287.9 -302.9 -133.1 -366.0 1

 2 Household sector 1039.0 989.3 673.6 -49.4 -153.7 -285.6 -534.4 -229.3 -268.4 -110.2 -341.4 2

 3 Nonfinancial corporate business 7.6 8.2 2.9 -10.2 -12.4 -6.8 -7.8 -9.8 -4.6 -4.9 -4.7 3

 4 Nonfarm noncorporate business 67.6 74.2 33.9 -46.9 -41.8 -36.9 -51.2 -48.7 -29.8 -18.0 -19.8 4

 5 Net change in assets 1114.2 1071.7 710.4 -106.6 -207.9 -329.3 -593.3 -287.9 -302.9 -133.1 -366.0 5

 6 Household sector 5.0 -15.0 -12.1 0.4 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 6

 7 Nonfinancial corporate business 1.0 -5.1 -10.9 -4.8 -2.0 -2.0 -2.0 -2.0 -2.0 -2.0 -1.4 7

 8 Nonfarm noncorporate business 1.9 -0.6 2.7 -1.1 -1.1 -0.6 -0.8 -0.7 -0.7 -0.3 -0.2 8

 9 State and local governments 5.5 7.4 3.6 -1.5 4.8 2.0 7.8 -3.2 2.2 1.3 2.9 9

10 Federal government -0.4 0.2 0.3 2.7 5.7 1.8 4.6 2.6 -1.2 1.2 1.8 10

11 Commercial banking 210.5 290.1 128.4 29.1 13.2 -81.0 -170.2 -209.8 149.4 -93.4 -205.4 11

12 Savings institutions 79.6 -86.0 11.1 -212.6 -217.7 -18.2 -177.9 29.8 -85.1 160.5 -223.0 12

13 Credit unions 31.3 30.1 31.8 33.2 3.2 2.8 21.0 -3.6 8.9 -15.0 18.1 13

14 Life insurance companies -0.6 2.9 -0.9 -0.6 -3.2 -0.7 -3.6 -0.6 0.3 1.1 0.5 14

15 Private pension funds -0.0 -0.1 -0.1 0.1 0.7 0.1 0.1 0.3 -0.0 -0.0 -0.2 15

16 State and local govt. retirement funds 0.5 -0.7 -1.7 -0.1 -0.0 0.0 0.1 -0.1 0.1 0.0 -0.3 16

17 Government-sponsored enterprises -54.7 3.7 -9.7 8.0 -11.8 -111.8 -112.8 -54.3 -208.5 -71.8 102.4 17

18 Agency- and GSE-backed mortgage pools 169.0 302.8 622.6 492.2 402.5 175.8 131.6 232.9 139.3 199.4 196.9 18

19 ABS issuers 573.4 517.4 35.2 -311.8 -337.3 -232.2 -219.9 -235.0 -232.5 -241.3 -212.8 19

20 Finance companies 67.8 48.3 -65.4 -97.3 -47.8 -50.8 -54.5 -25.7 -60.9 -62.0 -34.6 20

21 REITs 24.6 -23.7 -24.5 -42.5 -9.1 -6.6 -8.6 -10.5 -4.3 -2.9 -2.8 21

 Memo:

22 Home equity loans included above (2) 139.3 151.2 64.8 -17.8 -82.2 -90.5 -107.5 -71.0 -80.9 -102.6 -97.6 22

23 Commercial banking 65.5 104.6 38.6 82.6 -14.3 -60.2 -73.6 -40.7 -57.6 -69.1 -69.1 23

24 Savings institutions 30.4 -14.1 42.9 -61.0 -39.5 -6.0 -6.2 -7.3 -4.4 -6.1 -6.6 24

25 Credit unions 12.0 11.0 7.2 4.6 -4.1 -6.4 -7.5 -3.6 -6.0 -8.3 -8.4 25

26 ABS issuers 17.1 40.0 -10.9 -24.5 -14.7 -8.5 -11.6 -8.5 -6.4 -7.4 -6.6 26

27 Finance companies 14.3 9.7 -13.1 -19.5 -9.6 -9.4 -8.5 -10.9 -6.4 -11.7 -6.9 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; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 62.3 40.7 79.3 46.0 11.5 -8.9 -24.1 -13.8 6.2 -4.2 0.4 1

 2 Nonfinancial corporate business 1.4 1.0 6.0 1.9 1.5 -0.5 -1.1 0.3 -1.8 0.6 0.6 2

 3 Nonfarm noncorporate business 61.0 39.4 75.7 41.7 8.3 -9.3 -24.0 -14.0 5.7 -4.8 2.1 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs -0.1 0.3 -2.3 2.3 1.8 0.8 1.0 -0.0 2.4 -0.0 -2.3 5

 6 Net change in assets 62.3 40.7 79.3 46.0 11.5 -8.9 -24.1 -13.8 6.2 -4.2 0.4 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 0.0 -0.1 -0.3 -0.1 -0.1 -0.1 -0.0 -0.1 -0.1 -0.1 -0.7 8

 9 Nonfarm noncorporate business 1.9 -0.5 2.6 -1.0 -1.0 -0.6 -0.8 -0.7 -0.6 -0.3 -0.2 9

10 State and local governments 4.3 5.8 2.8 -1.2 3.8 2.1 6.1 -2.5 2.7 2.1 3.2 10

11 Federal government -0.0 -0.2 -0.3 0.1 0.1 -0.3 -0.8 0.2 -0.8 0.1 -0.2 11

12 Commercial banking 20.0 18.9 10.9 42.2 -4.1 -14.0 -6.0 -10.2 -11.6 -28.4 -13.5 12

13 Savings institutions 10.8 -2.6 -3.1 -27.5 -5.3 1.4 1.6 -6.5 3.1 7.2 -0.0 13

14 Life insurance companies 2.0 3.6 5.8 -0.1 -3.2 -1.3 -2.4 -2.1 0.2 -0.7 0.6 14

15 Private pension funds -0.0 -0.1 0.1 0.3 0.3 0.4 1.1 1.2 -0.4 -0.2 -0.2 15

16 State and local govt. retirement funds 0.4 -0.6 -1.4 -0.1 -0.0 0.0 0.1 -0.1 0.1 0.0 -0.3 16

17 Government-sponsored enterprises 10.5 12.4 42.3 40.0 16.7 2.0 -19.3 -1.9 8.5 20.5 -1.6 17

18 Agency- and GSE-backed mortgage pools -4.5 -12.5 -0.7 4.6 13.0 11.3 2.1 16.2 14.2 12.8 17.5 18

19 ABS issuers 16.6 14.0 20.6 -10.8 -5.8 -8.7 -3.7 -6.7 -8.5 -15.9 -2.8 19

20 Finance companies 0.0 -0.5 -0.1 0.8 -0.7 -1.0 -1.6 -0.9 -0.4 -1.3 -1.1 20

21 REITs 0.3 3.1 0.2 -1.3 -2.1 -0.2 -0.4 0.1 -0.3 -0.1 -0.3 21
52 Z.1, June 9, 2011

F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing 248.2 273.7 257.5 129.5 -90.0 -160.1 -105.3 -188.2 -192.9 -153.8 -60.1 1

 2 Household sector 9.2 21.2 15.8 11.5 -9.1 -15.9 -13.0 -18.3 -17.0 -15.6 -6.0 2

 3 Nonfinancial corporate business 182.4 78.5 40.1 -62.6 -20.4 -71.9 -25.4 -76.1 -82.0 -104.0 -42.2 3

 4 Nonfarm noncorporate business 42.3 167.7 194.7 176.1 -62.1 -78.3 -66.8 -95.8 -94.7 -56.1 -25.4 4

 5 REITs 14.2 6.3 7.0 4.5 1.6 6.1 -0.1 1.9 0.7 21.8 13.5 5

 6 Net change in assets 248.2 273.7 257.5 129.5 -90.0 -160.1 -105.3 -188.2 -192.9 -153.8 -60.1 6

 7 Household sector 1.9 2.2 2.1 0.9 -0.7 -2.5 -1.8 -2.3 -2.7 -3.2 -3.6 7

 8 Nonfinancial corporate business 0.6 -3.2 -7.3 -2.8 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 8

 9 Nonfarm noncorporate business 1.4 -0.4 2.0 -0.8 -0.8 -0.5 -0.6 -0.6 -0.5 -0.2 -0.1 9

10 State and local governments 0.9 1.2 0.6 -0.2 0.8 1.0 1.2 -0.5 1.4 1.8 0.1 10

11 Federal government 2.8 3.7 2.1 10.4 6.4 -3.7 -9.4 2.3 -6.2 -1.6 3.5 11

12 Commercial banking 128.7 133.8 100.4 117.9 -32.5 -99.5 -72.1 -111.2 -108.8 -105.8 -81.2 12

13 Savings institutions 4.9 11.3 9.1 6.7 -4.2 -1.7 -1.3 -10.0 -2.4 6.9 -13.6 13

14 Property-casualty insurance companies 0.3 0.7 1.3 0.2 -0.5 -0.3 -0.7 -0.1 -0.1 -0.4 -0.2 14

15 Life insurance companies 10.2 11.1 16.8 14.9 -9.4 -6.4 -5.8 -12.4 -2.2 -5.3 9.8 15

16 Private pension funds -0.1 -0.2 0.7 0.5 1.5 0.8 2.7 3.0 -1.6 -0.8 -0.6 16

17 State and local govt. retirement funds 0.5 -0.7 -1.6 -0.1 -0.0 0.0 0.1 -0.1 0.1 0.0 -0.3 17

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

19 ABS issuers 95.3 98.7 118.7 -29.0 -41.6 -40.1 -20.3 -50.9 -59.1 -29.9 37.2 19

20 Finance companies -2.4 5.2 2.9 12.6 -2.0 -5.1 2.3 -7.7 -6.7 -8.1 -9.4 20

21 REITs 3.2 10.3 9.9 -1.7 -5.5 -0.9 1.7 3.4 -2.9 -5.9 -0.3 21

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing (Farm business) 9.1 3.3 4.6 20.9 0.9 -2.3 -2.2 -2.2 -2.3 -2.3 0.2 1

 2 Net change in assets 9.1 3.3 4.6 20.9 0.9 -2.3 -2.2 -2.2 -2.3 -2.3 0.2 2

 3 Household sector 1.1 -4.5 -2.2 0.7 -0.6 -0.4 3.8 -2.7 -1.2 -1.3 3.9 3

 4 Nonfarm noncorporate business 0.1 -0.0 0.1 -0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 4

 5 State and local governments 0.1 0.1 -0.7 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government -0.0 -0.0 0.1 0.2 0.4 0.4 0.3 0.0 0.9 0.3 -0.2 6

 7 Commercial banking 3.3 2.2 1.7 7.8 0.6 -0.8 -0.8 -0.8 -0.9 -0.8 -0.9 7

 8 Savings institutions 0.0 0.1 0.1 0.0 -0.0 0.0 -0.1 0.0 0.0 0.1 0.0 8

 9 Life insurance companies 0.6 0.7 0.7 2.0 -0.5 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 9

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

11 Government-sponsored enterprises 4.0 2.2 3.3 10.3 1.3 -0.9 -2.6 -0.4 -0.7 -0.1 -0.2 11

12 Agency- and GSE-backed mortgage pools -0.1 2.3 1.4 0.1 -0.2 -0.2 -2.6 1.9 -0.1 -0.2 -2.1 12

(1) Excludes mortgages on farm houses.
Z.1, June 9, 2011 53

F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities (Households) 100.4 95.4 139.3 38.8 -115.3 -44.2 -101.5 -75.7 -47.1 47.7 58.5 1

 2 Net change in assets 100.4 95.4 139.3 38.8 -115.3 -44.2 -101.5 -75.7 -47.1 47.7 58.5 2

 3 Nonfinancial corporate business 0.4 -2.0 1.0 1.2 -2.6 7.5 21.6 -11.5 18.2 1.7 -21.4 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government 3.7 1.9 6.7 12.6 75.0 130.4 84.6 57.2 228.2 151.7 144.1 5

 6 Commercial banking 2.8 34.2 62.9 74.5 -50.6 -73.7 26.5 -50.5 -128.5 -142.1 -38.6 6

 7 Savings institutions 17.8 -13.5 -4.8 -4.5 -8.8 5.3 -14.2 10.5 6.1 18.7 -8.3 7

 8 Credit unions 13.2 5.9 1.2 0.5 1.0 -10.7 -20.9 -10.9 -21.8 10.7 -10.6 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 ABS issuers 38.4 51.2 22.6 -37.3 -41.3 -56.8 -137.5 -38.4 -42.9 -8.4 -23.3 10

11 Finance companies 24.2 17.8 49.7 -8.3 -88.0 -46.2 -61.7 -32.1 -106.4 15.4 16.6 11

F.223 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in trade payables 340.8 189.1 202.0 -174.1 -74.9 232.2 355.3 172.9 265.4 135.2 277.3 1

 2 Household sector 13.0 13.6 14.6 15.7 10.9 18.1 20.4 20.0 14.4 17.6 12.8 2

 3 Nonfinancial corporate business 199.4 110.3 85.9 -229.9 -89.9 197.7 270.2 161.7 211.2 147.5 217.7 3

 4 Nonfarm noncorporate business 52.0 20.0 29.3 -11.9 -34.0 -19.6 -25.5 -22.4 -20.7 -9.5 -5.4 4

 5 Farm business -2.8 -7.0 -4.1 24.6 4.7 -9.0 1.2 1.2 -24.6 -13.6 21.5 5

 6 State and local governments 32.1 34.4 37.0 39.6 38.4 39.1 38.6 38.9 39.3 39.5 40.1 6

 7 Federal government 33.7 6.2 29.3 22.4 -51.8 23.7 20.2 -6.8 4.1 77.3 2.0 7

 8 Rest of the world 6.3 6.2 12.4 -9.9 -2.0 34.2 61.6 21.3 29.6 24.5 -12.6 8

 9 Brokers and dealers 7.0 5.2 -2.4 -24.7 48.9 -52.0 -31.4 -40.9 12.3 -148.0 1.2 9

10 Net change in trade receivables 371.2 43.1 248.5 -182.0 -52.3 133.9 39.3 147.9 143.3 204.8 178.8 10

11 Nonfinancial corporate business 277.6 -18.3 163.1 -172.0 33.6 133.7 29.3 175.1 152.7 177.8 167.8 11

12 Nonfarm noncorporate business 66.6 40.0 54.7 -3.0 -40.8 -23.5 -30.6 -26.9 -24.9 -11.5 -6.5 12

13 State and local governments 10.2 13.8 6.8 -2.7 9.0 11.7 14.5 -5.9 16.8 21.2 1.0 13

14 Federal government 9.2 -11.6 1.2 4.2 -21.1 -0.3 4.5 -22.8 -3.9 21.2 1.6 14

15 Rest of the world 7.9 5.9 20.8 6.3 5.0 20.8 38.8 24.8 0.8 18.7 6.4 15

16 Property-casualty insurance companies 2.4 4.9 -1.6 1.3 -3.7 0.8 7.4 7.7 1.3 -13.1 2.5 16

17 ABS issuers -2.8 8.5 3.4 -16.1 -34.3 -9.5 -24.6 -4.2 0.4 -9.5 6.0 17

18 Discrepancy -30.4 145.9 -46.4 8.0 -22.5 98.4 316.0 25.0 122.1 -69.6 98.4 18

F.224 Security Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities 0.2 211.5 276.5 -397.9 -95.9 123.6 27.3 167.7 116.6 182.8 129.9 1

 2 Household sector -31.6 59.7 33.4 -160.7 38.1 75.2 -26.4 82.5 66.7 178.0 150.2 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 31.8 151.8 243.0 -237.3 -134.0 48.4 53.7 85.2 49.9 4.8 -20.3 4

 5 Customer credit balances (HH) -3.0 80.4 210.8 -123.8 -74.1 25.7 45.7 23.9 43.2 -10.1 36.0 5

 6 From U.S.-chartered commercial banks -6.6 20.9 29.3 12.8 -59.2 -5.8 8.0 17.7 -81.6 32.8 -0.7 6

 7 From foreign banking offices in U.S. 41.4 50.6 3.0 -126.3 -0.8 28.5 -0.0 43.6 88.3 -17.9 -55.6 7

 8 Net change in assets 0.2 211.5 276.5 -397.9 -95.9 123.6 27.3 167.7 116.6 182.8 129.9 8

 9 Household sector -3.0 80.4 210.8 -123.8 -74.1 25.7 45.7 23.9 43.2 -10.1 36.0 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Commercial banking 34.8 71.5 32.3 -113.5 -59.9 22.7 8.0 61.3 6.7 14.9 -56.3 11

12 Brokers and dealers -31.6 59.7 33.4 -160.7 38.1 75.2 -26.4 82.5 66.7 178.0 150.2 12
54 Z.1, June 9, 2011

F.225 Life Insurance and Pension Fund Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 Life insurance reserves:

 1 Net change in liabilities 16.1 65.6 34.2 67.0 26.5 17.2 0.9 13.8 49.0 5.3 34.8 1

 2 Federal government 1.1 1.5 1.2 1.0 1.1 0.9 -0.3 0.7 0.7 2.5 0.3 2

 3 Life insurance companies 14.9 64.1 33.0 66.0 25.4 16.4 1.2 13.1 48.3 2.9 34.5 3

 4 Net change in assets (Households) 16.1 65.6 34.2 67.0 26.5 17.2 0.9 13.8 49.0 5.3 34.8 4

 Pension fund reserves:

 5 Net change in liabilities 275.4 250.6 200.8 112.7 111.6 187.7 168.1 118.7 184.7 279.2 94.5 5

 6 Life insurance companies 142.1 100.5 118.6 65.5 25.1 104.2 112.9 68.4 139.9 95.7 20.5 6

 7 Private pension funds (1) 72.8 53.8 32.4 -50.4 35.7 39.1 31.3 48.6 14.4 62.1 52.4 7

 8 State and local govt. retirement funds 5.8 45.9 2.0 18.7 -27.4 -37.6 -33.2 -63.0 -46.5 -7.5 -47.1 8

 9 Federal government retirement funds (2) 54.7 50.4 47.8 78.9 78.2 81.9 57.1 64.7 76.9 128.9 68.7 9

10 Net change in assets (Households) (3) 275.4 250.6 200.8 112.7 111.6 187.7 168.1 118.7 184.7 279.2 94.5 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 F.225.i), except those at life insurance companies.

F.226 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in taxes payable by all -4.7 22.5 -69.3 -123.8 -5.0 12.1 2.1 -16.7 41.3 21.5 46.3 1

 businesses

 2 Nonfinancial corporate business -1.8 -0.8 -49.6 3.1 -3.3 3.5 18.6 -17.3 13.4 -0.6 14.2 2

 3 Nonfarm noncorporate business 8.7 9.0 3.8 6.7 -7.8 -4.5 -5.9 -5.1 -4.8 -2.2 -1.2 3

 4 U.S.-chartered commercial banks -7.9 -1.1 -13.6 -85.7 7.1 6.9 -24.3 36.0 -0.9 16.8 17.0 4

 5 Savings institutions 0.1 -0.4 -2.0 -0.3 0.3 -0.3 1.0 -2.0 -0.5 0.2 1.9 5

 6 Property-casualty insurance companies -3.1 11.0 -2.4 -28.1 5.3 5.6 12.6 -25.8 13.6 22.2 8.8 6

 7 Life insurance companies -2.6 4.0 -3.4 -19.7 -7.0 2.6 5.8 -2.7 11.7 -4.5 3.8 7

 8 Finance companies 1.9 0.0 -1.5 -0.1 -2.8 0.3 -0.4 0.3 0.6 0.5 -0.5 8

 9 Brokers and dealers -0.1 0.7 -0.6 0.3 3.2 -2.1 -5.3 -0.1 8.0 -10.9 2.3 9

10 Net change in business taxes receivable 40.9 5.1 -34.7 -64.9 4.1 49.5 9.2 46.8 40.0 101.9 52.5 10

11 State and local governments 15.5 11.5 0.8 -3.5 -16.2 12.6 9.9 13.8 14.0 12.7 10.5 11

12 Federal government 25.3 -6.3 -35.5 -61.4 20.3 36.9 -0.7 33.0 26.0 89.2 42.0 12

13 Discrepancy -45.6 17.3 -34.6 -58.8 -9.1 -37.4 -7.1 -63.5 1.3 -80.3 -6.2 13

F.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total household investment -56.0 -11.0 -33.2 -289.0 -62.7 5.7 10.3 23.9 10.4 -21.8 -35.8 1

 2 Nonfarm noncorporate business -30.9 22.3 -31.6 -285.2 -61.4 8.2 6.5 15.9 19.8 -9.6 0.6 2

 3 Farm business -23.9 -26.6 -4.1 -15.3 2.3 -4.6 4.4 -1.2 -4.7 -16.8 -24.1 3

 4 Brokers and dealers -1.2 -6.8 2.4 11.5 -3.6 2.1 -0.6 9.2 -4.7 4.6 -12.3 4
Z.1, June 9, 2011 55

F.228 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 1266.1 1857.8 2550.2 2284.2 -303.4 1220.0 1108.0 1668.6 1819.6 205.3 1639.6 1

 2 Household sector 1.0 0.5 1.0 3.2 -4.9 2.7 10.1 3.6 -11.8 8.7 1.7 2

 3 Nonfinancial corporate business 782.8 819.8 1274.7 640.9 17.4 442.4 12.3 448.4 594.4 714.5 201.8 3

 4 Nonfarm noncorporate business 142.8 144.8 94.1 114.4 111.6 68.9 177.3 88.4 14.5 -4.8 50.1 4

 5 Federal government 68.0 59.4 76.6 89.5 81.4 90.6 21.1 72.5 72.5 196.2 45.5 5

 6 Rest of the world 24.9 467.0 509.7 613.3 -199.5 556.4 421.7 568.6 602.9 632.6 697.9 6

 7 Monetary authority 2.8 3.2 2.5 2.2 6.1 29.2 40.8 6.5 -118.2 187.7 -64.6 7

 8 Commercial banking 32.5 31.3 165.3 357.7 -207.2 65.7 479.0 465.4 794.5 -1554.6 1028.9 8

 9 Savings institutions 27.3 19.7 22.2 -30.1 -50.5 -1.6 33.0 37.3 -78.8 1.9 34.0 9

10 Credit unions 2.6 -2.7 -5.6 1.1 14.7 -8.4 -29.8 3.5 -4.8 -2.5 11.7 10

11 Property-casualty insurance companies 52.2 39.7 12.3 32.8 -5.2 9.4 -1.5 29.6 22.6 -12.9 2.5 11

12 Life insurance companies 19.5 50.9 67.6 46.8 -4.6 55.1 11.7 249.0 3.7 -44.0 37.4 12

13 Government-sponsored enterprises -1.9 11.6 17.7 41.0 58.3 -3.1 -1.3 -53.4 -102.2 144.4 -56.5 13

14 Finance companies 28.2 13.7 -6.9 10.4 -91.2 -11.8 -82.2 16.3 -56.1 74.6 -133.1 14

15 REITs 4.3 7.8 3.4 -3.7 -22.8 -2.0 39.1 -4.5 -8.8 -33.9 9.3 15

16 Brokers and dealers 26.2 97.8 38.2 -100.4 26.1 17.0 320.8 -126.1 144.6 -271.2 256.0 16

17 Funding corporations 52.9 93.3 277.5 465.3 -33.0 -90.4 -344.3 -136.7 -49.5 168.9 -483.0 17

18 Net change in assets 1357.2 2514.6 2569.0 176.7 -87.1 799.2 910.6 453.3 1284.9 547.9 1087.6 18

19 Household sector 58.0 37.4 66.1 55.2 21.1 43.8 5.2 41.6 54.2 74.5 9.5 19

20 Nonfinancial corporate business 441.2 718.6 929.6 -365.6 278.0 477.3 598.4 612.9 357.3 340.7 256.3 20

21 Nonfarm noncorporate business 256.0 378.9 328.4 106.6 -162.4 -93.3 -121.8 -107.0 -98.9 -45.6 -25.8 21

22 Farm business 1.3 4.1 3.4 1.8 1.7 1.1 1.1 1.1 1.1 1.1 1.1 22

23 State and local governments -8.9 -3.9 74.5 24.6 46.9 95.9 82.0 51.9 97.0 152.8 1.0 23

24 Federal government -0.3 3.1 1.9 -28.0 35.4 -3.5 7.3 -65.8 26.0 18.6 -4.1 24

25 Rest of the world 167.5 694.5 649.5 -281.6 158.5 473.3 347.0 476.7 557.9 511.5 -19.1 25

26 Monetary authority -3.2 0.1 25.8 530.2 -493.8 7.8 -34.1 -1.6 2.9 64.0 39.2 26

27 Commercial banking 94.3 153.6 141.3 680.3 -39.1 -117.5 113.1 327.5 -133.2 -777.4 967.1 27

28 Savings institutions -58.8 -4.5 6.2 -25.4 -6.2 -8.0 -56.1 -20.4 -90.0 134.5 -55.5 28

29 Credit unions -0.3 0.8 11.0 8.4 6.4 2.7 -55.5 -7.1 44.9 28.7 -35.5 29

30 Property-casualty insurance companies 10.8 3.1 17.6 6.8 15.7 5.5 8.2 -6.2 13.8 6.3 6.8 30

31 Life insurance companies 23.4 41.3 39.5 37.2 -22.5 2.8 18.5 109.2 0.4 -117.1 -114.7 31

32 Private pension funds -10.4 1.3 17.5 11.3 21.6 -18.8 -47.6 -11.1 -0.4 -16.3 -34.9 32

33 State and local govt. retirement funds -0.6 1.0 -0.6 -0.0 0.5 0.7 0.3 0.8 1.6 0.2 1.4 33

34 Federal government retirement funds 40.0 35.8 33.3 63.3 61.9 65.7 42.2 47.2 62.2 111.2 54.9 34

35 Money market mutual funds -10.0 15.9 31.8 -43.1 11.3 7.7 56.1 -257.8 -39.2 271.9 74.4 35

36 Mutual funds 3.7 3.3 2.8 3.2 -5.1 -12.0 -26.4 -21.8 -27.8 28.0 -0.0 36

37 Government-sponsored enterprises 4.0 -3.2 27.0 -46.7 -28.2 27.1 -25.8 -25.0 145.0 14.0 -182.2 37

38 Finance companies 52.2 -30.2 1.7 11.8 31.9 -15.9 -128.4 8.8 -14.8 70.9 -45.9 38

39 REITs 11.6 7.8 -4.4 -0.7 -8.4 7.5 10.4 23.9 16.8 -21.3 14.0 39

40 Brokers and dealers 217.7 425.1 47.3 -615.1 54.9 -104.2 174.9 -538.4 136.7 -190.0 59.8 40

41 Funding corporations 67.9 31.1 117.6 42.1 -67.2 -46.5 -58.3 -186.0 171.3 -113.2 119.8 41

42 Discrepancy -91.1 -656.8 -18.8 2107.5 -216.3 420.9 197.4 1215.3 534.6 -342.6 552.1 42
56 Z.1, June 9, 2011

F.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world 36.2 244.9 414.0 351.1 268.7 345.6 411.3 290.5 312.5 368.2 300.5 1

 2 Equity 61.9 49.0 200.9 145.5 18.4 46.7 120.7 36.3 3.3 26.7 -0.6 2

 3 Reinvested earnings -10.3 217.3 230.5 239.5 239.9 315.9 322.1 292.6 317.1 331.7 293.2 3

 4 Intercompany accounts -15.4 -21.4 -17.3 -33.9 10.3 -17.0 -31.5 -38.4 -8.0 9.9 7.9 4

 5 Asset: Nonfinancial corporate business 24.7 219.2 307.0 276.2 249.9 304.2 389.4 241.0 263.6 322.9 264.8 5

 6 Commercial banking 0.5 -1.7 32.8 18.6 -8.9 6.4 -4.6 30.6 5.3 -5.5 -9.9 6

 7 Property-casualty insurance companies 10.8 3.1 17.6 6.8 15.7 5.5 8.2 -6.2 13.8 6.3 6.8 7

 8 Life insurance companies 1.4 0.8 5.8 4.5 0.9 4.5 2.4 4.3 2.8 8.7 7.6 8

 9 Finance companies 4.5 8.0 26.4 22.8 5.7 14.1 2.2 13.9 17.9 22.5 19.2 9

10 Brokers and dealers -5.7 15.6 24.4 22.2 5.4 10.8 13.7 6.9 9.2 13.3 11.9 10

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

11 Liab.: Nonfinancial corporate business 98.7 191.0 287.0 234.9 100.7 167.5 163.7 72.1 237.1 197.1 199.4 11

12 Nonfarm noncorporate business 0.1 0.2 0.2 0.1 0.3 -0.1 0.1 -0.0 -0.1 -0.1 -0.2 12

13 Commercial banking 9.4 13.8 -1.2 23.2 9.0 8.7 14.5 11.8 11.4 -2.8 -2.4 13

14 Property-casualty insurance companies -0.1 23.1 -6.4 7.4 -0.2 3.1 2.2 3.0 4.7 2.6 4.5 14

15 Life insurance companies 0.4 14.4 -0.6 13.1 6.9 6.7 6.0 13.4 6.4 0.9 -0.9 15

16 Finance companies 6.3 5.2 -9.4 23.0 7.6 -0.1 6.6 -6.5 0.8 -1.2 -0.4 16

17 Brokers and dealers -2.6 -5.1 1.0 26.1 9.8 8.0 12.9 -21.6 14.8 26.1 19.0 17

18 Funding corporations 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 18

19 Asset: Rest of the world 112.6 243.2 271.2 328.3 134.7 194.5 206.4 72.7 275.6 223.1 219.7 19

20 Equity 70.7 115.0 152.8 261.6 94.8 76.9 66.7 46.7 155.1 39.0 47.3 20

21 Reinvested earnings 41.7 69.1 55.2 47.0 28.5 93.1 74.0 77.3 96.6 124.7 116.9 21

22 Intercompany accounts 0.2 59.0 63.2 19.8 11.5 24.5 65.8 -51.3 23.9 59.4 55.5 22

 Federal government equity in IBRD, etc.:

23 Liab.: Rest of the world 1.3 2.0 1.7 1.4 1.7 2.3 1.9 5.3 1.3 0.8 -0.9 23

24 Asset: Federal government 1.3 2.0 1.7 1.4 1.7 2.3 1.9 5.3 1.3 0.8 -0.9 24

 Federal Reserve Bank stock:

25 Liab.: Monetary authority 1.6 1.8 3.1 2.6 4.6 0.9 2.5 1.5 0.3 -0.6 -0.9 25

26 Asset: Commercial banking 1.6 1.8 3.1 2.6 4.6 0.9 2.5 1.5 0.3 -0.6 -0.9 26

 Equity in govt.-sponsored enterprises:

27 Liab.: Government-sponsored enterprises 1.9 0.2 9.1 -0.3 -3.9 -2.7 -3.1 -1.9 0.4 -6.4 -1.6 27

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

29 Nonfarm noncorporate (Farm Credit System) -0.1 0.1 0.3 0.9 0.7 0.0 -0.1 0.8 0.2 -0.8 -0.3 29

30 Farm business (Farm Credit System) 0.1 0.2 0.5 -0.5 -0.0 0.5 0.2 -0.6 1.3 1.0 0.4 30

31 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Commercial banks (FHLB) 0.8 2.7 3.8 -1.0 -0.9 -1.8 -2.6 -1.7 1.5 -4.5 0.6 32

33 Savings institutions (FHLB) 1.1 -2.9 3.3 -0.9 -3.0 -1.2 -0.2 -0.7 -3.0 -0.9 -2.7 33

34 Credit unions (FHLB) 0.1 0.2 0.6 0.3 -0.4 -0.2 -0.0 0.0 0.2 -1.0 0.1 34

35 Life insurance companies (FHLB) -0.1 0.0 0.6 1.0 -0.3 -0.0 -0.4 0.3 0.2 -0.3 0.1 35

 BHC investment in subsidiaries:

36 Liab.: Commercial banking 40.0 114.1 130.7 46.6 106.9 -46.7 -20.3 92.6 83.3 -342.5 89.2 36

37 Savings institutions 3.7 0.6 0.2 2.5 10.6 -1.0 -0.2 -1.2 2.3 -5.1 1.0 37

38 Life insurance companies 9.7 2.7 5.3 -12.5 9.3 22.2 10.9 15.0 15.5 47.5 7.2 38

39 Finance companies -38.9 3.2 41.5 -7.3 -23.3 -36.2 -111.2 -10.0 -2.7 -20.7 34.3 39

40 Brokers and dealers 68.2 39.8 -110.0 59.4 -87.9 -0.7 94.7 8.1 89.0 -194.4 -15.2 40

41 Asset: Bank holding companies 82.7 160.4 67.8 88.7 15.5 -62.3 -26.1 104.5 187.4 -515.2 116.4 41

 NFC investment in finance company subs.:

42 Liab.: Finance companies 64.4 22.9 -54.8 -1.1 -9.3 20.3 98.8 -5.3 -1.4 -10.9 -62.0 42

43 Asset: Nonfinancial corporate business 64.4 22.9 -54.8 -1.1 -9.3 20.3 98.8 -5.3 -1.4 -10.9 -62.0 43

 Funding corp. investment in subs.:

44 Liab.: Foreign banking offices in U.S. 21.0 8.6 43.7 35.6 -73.5 -31.5 -55.6 -155.1 106.7 -22.0 75.7 44

45 Brokers and dealers 46.9 22.6 73.9 6.4 6.3 -15.0 -2.7 -30.9 64.7 -91.2 44.0 45

46 Asset: Funding corporations 67.9 31.1 117.6 42.1 -67.2 -46.5 -58.3 -186.0 171.3 -113.2 119.8 46

 Equity investment under Public-Private Inv. Program:

47 Liab.: Funding corporations 0.0 0.0 0.0 0.0 2.4 7.9 13.4 10.2 5.0 3.1 0.6 47

48 Asset: Households (2) 0.0 0.0 0.0 0.0 1.2 4.0 6.7 5.1 2.5 1.5 0.3 48

49 Federal government 0.0 0.0 0.0 0.0 1.2 4.0 6.7 5.1 2.5 1.5 0.3 49

(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.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
Z.1, June 9, 2011 57

F.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -2.2 -0.0 23.9 529.8 -543.3 -10.1 -41.1 5.6 -4.5 -0.3 -0.2 1

 2 Asset: Federal government -2.2 -0.0 -0.1 0.0 0.2 0.1 -0.0 0.6 0.2 -0.4 0.1 2

 3 Monetary authority (1) 0.0 0.0 24.0 529.7 -543.5 -10.2 -41.1 5.0 -4.7 0.1 -0.3 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 0.8 -0.2 1.9 -5.4 0.4 -1.5 21.0 -13.3 7.5 -21.1 2.4 6

 7 Asset: Savings institutions 0.8 -0.2 1.9 -5.4 0.4 -1.5 21.0 -13.3 7.5 -21.1 2.4 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 1.0 0.5 1.0 3.2 -4.9 2.7 10.1 3.6 -11.8 8.7 1.7 8

 9 Asset: Life insurance companies 1.0 0.5 1.0 3.2 -4.9 2.7 10.1 3.6 -11.8 8.7 1.7 9

 Life insurance company reserves:

10 Liab.: Life insurance companies 9.5 14.8 15.5 17.6 8.4 14.8 5.5 20.1 26.7 6.9 11.2 10

11 Accident and health 7.9 11.5 13.5 19.5 9.7 14.7 1.7 16.2 25.0 15.9 7.1 11

12 Policy dividend accumulation 1.0 0.8 0.2 -3.4 -1.1 0.4 -0.3 -1.3 1.2 2.2 0.9 12

13 Contract claims 0.6 2.5 1.8 1.5 -0.1 -0.4 4.1 5.2 0.4 -11.2 3.3 13

14 Asset: Household sector 9.5 14.8 15.5 17.6 8.4 14.8 5.5 20.1 26.7 6.9 11.2 14

 Policy payables:

15 Liab.: Property-casualty insurance companies 52.3 16.6 18.7 25.4 -5.0 6.3 -3.6 26.6 17.8 -15.5 -2.0 15

16 Asset: Household sector 25.6 4.6 6.7 11.1 -5.1 2.6 -2.7 11.9 9.3 -8.0 -1.7 16

17 Nonfinancial corporate business 20.7 6.6 7.4 9.9 -1.8 2.5 -1.4 10.5 7.0 -6.1 -0.8 17

18 Nonfarm noncorporate business 4.9 1.6 1.7 2.1 0.2 0.6 -0.3 2.5 1.7 -1.5 -0.2 18

19 Farm business 1.2 3.9 2.9 2.3 1.7 0.6 0.9 1.7 -0.2 0.1 0.7 19

 Unallocated insurance company contracts:

20 Liab.: Life insurance companies -1.4 -1.5 26.3 38.2 10.1 -4.4 -28.1 14.6 5.2 -9.2 -9.0 20

21 Asset: Private pension funds -1.4 -1.5 26.3 38.2 10.1 -4.4 -28.1 14.6 5.2 -9.2 -9.0 21

 Pension fund contributions payable:

22 Liab.: Nonfinancial corporate business -1.9 -2.0 4.4 0.7 2.5 -1.2 -2.2 -1.3 -0.8 -0.6 -0.4 22

23 Asset: Private pension funds -1.9 -2.0 4.4 0.7 2.5 -1.2 -2.2 -1.3 -0.8 -0.6 -0.4 23

 Securities borrowed (net):

24 Liab.: Funding corporations 174.9 302.6 -2.1 -353.2 -30.2 -123.5 -30.6 -334.5 31.7 -160.5 -97.3 24

25 Asset: Brokers and dealers 174.9 302.6 -2.1 -353.2 -30.2 -123.5 -30.6 -334.5 31.7 -160.5 -97.3 25

 Nonmarketable government securities:

26 Liab.: Federal government 40.0 35.8 33.3 63.3 61.9 65.7 42.2 47.2 62.2 111.2 54.9 26

27 Asset: Federal government retirement funds 40.0 35.8 33.3 63.3 61.9 65.7 42.2 47.2 62.2 111.2 54.9 27

 Retiree health care funds (2):

28 Liab.: Federal government 23.0 18.1 43.9 26.5 16.6 22.5 -4.3 4.6 15.7 74.0 -0.3 28

29 Asset: Household sector 23.0 18.1 43.9 26.5 16.6 22.5 -4.3 4.6 15.7 74.0 -0.3 29

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
58 Z.1, June 9, 2011

F.231 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 601.4 766.7 1553.7 1125.4 -167.1 788.9 492.3 1604.1 717.6 262.9 987.1 1

 2 Nonfinancial corporate business 686.0 630.8 983.2 405.3 -85.8 276.2 -149.2 377.7 358.2 518.0 2.8 2

 3 Nonfarm noncorporate business 142.7 144.6 93.9 114.3 111.3 68.9 177.2 88.5 14.7 -4.7 50.3 3

 4 Federal government 5.0 5.6 -0.6 -0.3 2.9 2.4 -16.8 20.8 -5.4 11.0 -9.1 4

 5 Rest of the world -10.4 220.1 70.1 -269.0 73.4 218.6 49.6 267.3 293.7 263.8 398.6 5

 6 Monetary authority 1.1 1.4 -0.7 -0.5 1.5 28.3 38.3 5.1 -118.5 188.3 -63.7 6

 7 Commercial banking -37.8 -105.1 -7.9 252.2 -249.6 135.3 540.4 516.1 593.2 -1187.3 866.3 7

 8 U.S.-chartered commercial banks -74.5 -50.0 -95.2 -53.3 148.6 187.9 525.0 -158.8 272.6 112.6 501.8 8

 9 Foreign banking offices in U.S. 24.2 -131.3 102.3 490.7 -353.4 30.6 84.2 599.1 238.9 -799.6 285.7 9

10 Bank holding companies 12.8 80.6 -3.4 -180.7 -48.0 -78.2 -57.6 60.2 99.9 -494.0 83.6 10

11 Banks in U.S.-affiliated areas -0.3 -4.4 -11.6 -4.5 3.3 -5.0 -11.2 15.6 -18.2 -6.3 -4.9 11

12 Savings institutions 23.6 19.1 22.0 -32.6 -61.1 -0.6 33.2 38.6 -81.1 7.0 33.0 12

13 Credit unions 2.6 -2.7 -5.6 1.1 14.7 -8.4 -29.8 3.5 -4.8 -2.5 11.7 13

14 Life insurance companies 1.4 20.5 21.1 -9.6 -39.3 15.8 17.3 185.9 -50.0 -90.2 28.9 14

15 Government-sponsored enterprises -4.6 11.6 6.7 46.7 61.8 1.1 -19.2 -38.2 -110.1 171.9 -57.3 15

16 Finance companies -3.7 -17.8 15.8 -4.2 -66.3 4.1 -76.3 38.1 -52.9 107.4 -104.9 16

17 REITs 4.3 7.8 3.4 -3.7 -22.8 -2.0 39.1 -4.5 -8.8 -33.9 9.3 17

18 Brokers and dealers -86.2 40.6 73.4 -192.2 97.9 24.7 216.0 -81.6 -23.8 -11.7 208.2 18

19 Funding corporations -122.6 -209.9 278.9 817.9 -5.8 24.6 -327.7 187.1 -86.7 325.7 -386.9 19

20 Net change in assets 692.5 1423.5 1572.4 -982.1 49.2 368.0 294.9 388.7 182.9 605.5 435.1 20

21 Nonfinancial corporate business 331.4 469.9 670.1 -650.6 39.2 150.3 111.6 366.6 88.1 34.8 54.4 21

22 Nonfarm noncorporate business 251.2 377.2 326.4 103.7 -163.3 -94.0 -121.4 -110.3 -100.8 -43.3 -25.4 22

23 State and local governments -8.9 -3.9 74.5 24.6 46.9 95.9 82.0 51.9 97.0 152.8 1.0 23

24 Federal government 0.6 1.0 0.4 -29.4 32.3 -9.8 -1.3 -76.8 22.0 16.7 -3.6 24

25 Rest of the world 54.9 451.4 378.3 -609.9 23.8 278.8 140.5 403.9 282.3 288.4 -238.7 25

26 Monetary authority -3.2 0.1 1.8 0.5 49.6 18.0 7.0 -6.5 7.6 64.0 39.5 26

27 Commercial banking 8.6 -9.6 33.9 571.4 -49.4 -60.7 143.9 192.6 -327.6 -251.6 860.8 27

28 U.S.-chartered commercial banks 24.4 97.2 -18.4 114.6 33.8 -71.3 53.8 -145.6 -221.8 28.5 440.3 28

29 Foreign banking offices in U.S. -32.2 -143.9 14.7 364.4 -120.4 4.0 169.7 267.4 -123.6 -297.4 361.4 29

30 Bank holding companies 16.2 36.5 31.5 93.4 41.7 2.1 -83.2 47.6 22.5 21.6 59.7 30

31 Banks in U.S.-affiliated areas 0.1 0.6 6.1 -1.0 -4.5 4.5 3.7 23.3 -4.7 -4.3 -0.6 31

32 Savings institutions -60.6 -1.4 1.0 -19.2 -3.6 -5.3 -76.9 -6.4 -94.5 156.5 -55.3 32

33 Credit unions -0.5 0.6 10.4 8.1 6.8 2.9 -55.5 -7.1 44.7 29.6 -35.6 33

34 Life insurance companies 21.1 40.0 32.1 28.6 -18.1 -4.4 6.4 101.0 9.2 -134.3 -124.1 34

35 Private pension funds -7.1 4.8 -13.2 -27.6 9.0 -13.2 -17.3 -24.4 -4.8 -6.5 -25.5 35

36 State and local govt. retirement funds -0.6 1.0 -0.6 -0.0 0.5 0.7 0.3 0.8 1.6 0.2 1.4 36

37 Money market mutual funds -10.0 15.9 31.8 -43.1 11.3 7.7 56.1 -257.8 -39.2 271.9 74.4 37

38 Mutual funds 3.7 3.3 2.8 3.2 -5.1 -12.0 -26.4 -21.8 -27.8 28.0 -0.0 38

39 Government-sponsored enterprises 4.0 -3.2 27.0 -46.7 -28.2 27.1 -25.8 -25.0 145.0 14.0 -182.2 39

40 Finance companies 47.7 -38.2 -24.7 -11.0 26.2 -30.0 -130.6 -5.1 -32.6 48.5 -65.1 40

41 REITs 11.6 7.8 -4.4 -0.7 -8.4 7.5 10.4 23.9 16.8 -21.3 14.0 41

42 Brokers and dealers 48.5 106.9 24.9 -284.1 79.7 8.5 191.7 -210.7 95.8 -42.9 145.1 42

43 Discrepancy -91.1 -656.8 -18.8 2107.5 -216.3 420.9 197.4 1215.3 534.6 -342.6 552.1 43
Z.1, June 9, 2011 59

F.11 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 All sectors 13.7 126.5 -145.2 1003.1 -136.5 242.1 387.0 799.0 129.4 -425.8 46.3 1

 2 Household sector 66.4 268.5 -253.3 -202.2 199.8 -210.0 29.2 -399.0 125.6 -596.0 10.6 2

 3 Nonfarm nonfinancial corporate business 140.2 114.2 108.6 899.8 -447.1 -40.6 -8.2 -61.3 -180.7 87.9 159.7 3

 4 Corporate farms -18.9 -28.9 -2.7 0.6 -2.5 -21.9 -13.9 -21.1 -22.9 -29.7 -31.4 4

 5 State and local governments -73.3 -52.3 -19.1 -19.8 -31.2 -29.4 -18.4 -19.7 -36.8 -42.6 -17.6 5

 6 Federal government 22.7 13.1 23.4 85.8 -44.3 -62.8 16.2 366.1 -334.3 -299.3 -19.9 6

 7 Rest of the world 13.9 -6.9 78.3 81.1 164.3 246.6 306.1 368.9 -32.8 344.0 -295.4 7

 8 Financial sectors -137.2 -181.3 -80.4 157.8 24.5 360.2 75.9 565.1 611.3 110.0 240.3 8

 9 Monetary authority 3.1 0.7 -3.5 -0.5 -5.8 -0.5 -1.0 -14.0 -2.8 15.7 1.2 9

10 Commercial banking -93.2 -196.3 -135.1 -47.1 175.0 177.0 -56.5 395.0 423.2 -132.3 86.5 10

11 Savings institutions -8.1 -6.0 24.1 54.0 24.2 15.5 8.6 13.9 18.5 20.9 28.4 11

12 Credit unions 2.2 1.1 2.1 3.7 6.2 6.5 3.6 4.0 7.0 11.2 1.7 12

13 Property-casualty insurance companies -14.9 31.1 -8.8 -2.4 -34.2 47.2 39.9 3.7 25.9 119.2 -14.6 13

14 Life insurance companies -10.4 -29.3 -50.7 -58.6 -66.5 2.9 -19.1 -20.1 9.9 40.9 51.5 14

15 Mutual funds 21.1 11.4 13.4 -2.9 11.5 10.3 6.7 5.9 17.7 10.9 6.5 15

16 Government-sponsored enterprises -14.8 -1.8 27.7 119.5 73.0 124.2 146.0 166.4 163.4 20.9 158.4 16

17 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Finance companies -20.7 29.9 25.1 35.8 5.7 50.9 52.5 27.9 29.8 93.4 -3.1 18

19 REITs 7.9 1.4 35.3 -6.9 -17.5 18.0 29.7 6.7 1.0 34.6 22.4 19

20 Brokers and dealers -9.5 -23.6 -10.1 63.2 -147.2 -91.6 -134.5 -24.4 -82.2 -125.5 -98.5 20

F.12 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 All types 13.7 126.5 -145.2 1003.1 -136.5 242.1 387.0 799.0 129.4 -425.8 46.3 1

 2 Treasury currency 0.7 -1.1 -1.2 -0.8 -4.4 -1.1 -0.2 -1.8 -1.9 -0.5 -1.0 2

 3 Foreign deposits 12.3 106.8 197.5 -354.4 -136.0 30.5 25.9 112.2 -42.1 26.1 46.3 3

 4 Net interbank transactions -3.6 -1.9 1.8 30.6 34.4 -20.2 -227.1 -132.9 112.6 166.6 -94.6 4

 5 Security RPs 106.3 304.5 -225.0 -587.1 406.6 -84.5 234.9 -217.5 -402.0 46.6 -384.5 5

 6 Mail floats -4.9 -3.0 1.0 -5.2 -0.3 -1.1 16.6 -1.5 -9.0 -10.3 20.8 6

 7 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Federal government -6.6 -3.0 1.2 -3.3 0.7 0.0 20.2 -1.5 -10.9 -7.8 21.1 8

 9 Private domestic 1.7 -0.0 -0.1 -2.0 -1.0 -1.1 -3.7 -0.0 1.9 -2.5 -0.3 9

10 Trade credit -30.4 145.9 -46.4 8.0 -22.5 98.4 316.0 25.0 122.1 -69.6 98.4 10

11 Taxes payable -45.6 17.3 -34.6 -58.8 -9.1 -37.4 -7.1 -63.5 1.3 -80.3 -6.2 11

12 Miscellaneous -91.1 -656.8 -18.8 2107.5 -216.3 420.9 197.4 1215.3 534.6 -342.6 552.1 12

13 Nonfinancial 70.0 214.7 -19.6 -136.4 -188.9 -163.3 -169.3 -136.2 -186.2 -161.6 -185.0 13

 Nonfinancial components (sign reversed):

14 Statistical discrepancy (NIPA) -79.7 -220.6 21.1 136.6 179.1 158.2 164.2 131.1 181.0 156.4 180.2 14

15 Private wage accruals less disbursements 5.0 1.3 -6.3 -5.0 5.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Contr. for govt. soc. insur., U.S. affiliated areas 4.7 4.6 4.7 4.9 4.8 5.2 5.1 5.2 5.2 5.2 4.7 16
60 Z.1, June 9, 2011

L.1 Credit Market Debt Outstanding (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total credit market debt owed by: 37819.1 41279.4 45353.9 50043.2 52433.4 52265.5 51808.8 51792.9 52074.0 52399.5 52603.8 1

 2 Domestic nonfinancial sectors 24444.7 26769.5 29179.9 31699.4 33601.5 34633.6 34969.9 35205.3 35626.5 36112.7 36333.3 2

 3 Household sector 10575.9 11763.7 12943.2 13805.6 13843.8 13611.2 13496.1 13437.0 13404.9 13386.2 13271.4 3

 4 Nonfinancial corporate business 5163.1 5472.3 5943.4 6703.0 6950.6 6963.9 6999.2 7015.9 7099.9 7176.3 7293.3 4

 5 Nonfarm noncorporate business 2455.3 2786.9 3195.6 3650.3 3972.1 3672.4 3584.1 3521.2 3481.2 3475.1 3462.1 5

 6 Farm business 172.9 190.1 204.3 218.9 222.9 220.9 216.3 216.4 220.5 224.7 216.0 6

 7 State and local governments 1682.5 1854.5 2008.2 2199.2 2250.7 2359.8 2391.1 2387.1 2402.2 2464.7 2444.7 7

 8 Federal government 4395.0 4701.9 4885.3 5122.3 6361.5 7805.4 8283.2 8627.7 9017.8 9385.6 9645.9 8

 9 Rest of the world 1438.8 1513.9 1882.6 2126.3 1708.8 2013.6 2035.9 2028.0 2068.5 2115.4 2166.9 9

10 Financial sectors 11935.6 12996.0 14291.4 16217.5 17123.1 15618.4 14803.0 14559.5 14379.0 14171.3 14103.6 10

11 Commercial banking 738.7 823.9 1001.5 1262.8 1425.3 1665.6 1977.5 1922.8 1928.8 1852.1 1831.5 11

12 U.S.-chartered commercial banks 356.7 393.6 497.8 629.6 708.6 576.1 906.8 881.7 836.6 805.2 773.5 12

13 Foreign banking offices in U.S. 0.7 0.8 0.5 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Bank holding companies 381.3 429.5 503.3 632.7 716.6 1089.5 1070.7 1041.1 1092.2 1046.9 1058.0 14

15 Savings institutions 404.8 427.3 319.1 423.3 356.1 152.3 143.3 136.2 133.8 127.4 121.0 15

16 Credit unions 11.4 14.7 18.9 32.3 40.6 26.5 25.4 25.0 25.2 26.1 23.7 16

17 Life insurance companies 11.1 11.5 14.2 28.7 54.9 48.3 45.6 45.6 45.3 45.1 45.5 17

18 Government-sponsored enterprises 2676.3 2592.2 2627.8 2910.2 3181.9 2706.6 6653.3 6591.1 6498.1 6434.5 6437.3 18

19 Agency- and GSE-backed mortgage pools 3384.0 3548.5 3841.1 4464.4 4961.4 5376.7 980.2 1046.5 1096.0 1139.5 1187.0 19

20 ABS issuers 2662.3 3391.7 4199.5 4543.8 4134.6 3349.7 2709.4 2576.5 2457.8 2353.3 2280.6 20

21 Finance companies 1129.6 1108.6 1144.2 1279.6 1200.3 1044.1 1048.1 1017.7 974.9 962.1 950.1 21

22 REITs 340.1 395.5 411.0 421.2 372.6 338.9 343.4 345.0 353.8 350.1 356.4 22

23 Brokers and dealers 62.2 62.4 68.8 64.8 142.6 92.9 92.3 100.9 96.1 129.7 128.2 23

24 Funding corporations 515.1 619.9 645.3 786.4 1252.8 816.8 784.6 752.3 769.2 751.4 742.3 24

25 Total credit market assets held by: 37819.1 41279.4 45353.9 50043.2 52433.4 52265.5 51808.8 51792.9 52074.0 52399.5 52603.8 25

26 Domestic nonfinancial sectors 4855.4 5389.5 5648.5 6223.5 6035.8 6452.3 6528.4 6600.8 6578.7 6691.0 6579.6 26

27 Household sector 2999.2 3326.5 3462.5 4072.8 3966.9 4119.2 4169.6 4253.0 4172.6 4254.7 4128.8 27

28 Nonfinancial corporate business 298.0 340.4 328.8 249.7 217.5 223.9 227.6 233.7 243.2 231.9 238.1 28

29 Nonfarm noncorporate business 85.4 96.8 96.7 106.7 95.8 88.3 86.9 85.7 84.6 84.0 83.7 29

30 State and local governments 1198.1 1352.0 1480.6 1507.8 1382.4 1351.6 1358.8 1340.5 1344.4 1365.7 1342.9 30

31 Federal government 274.7 273.8 279.9 286.5 373.1 669.2 685.4 688.0 734.0 754.6 786.0 31

32 Rest of the world 4634.7 5191.3 6199.7 7272.6 7503.1 7784.7 7945.1 8089.7 8313.5 8417.4 8502.4 32

33 Financial sectors 28329.0 30698.5 33505.7 36547.1 38894.6 38028.5 37335.3 37102.4 37181.8 37291.1 37521.8 33

34 Monetary authority 717.8 744.2 778.9 740.6 986.0 1987.7 2151.8 2187.3 2150.3 2259.2 2479.2 34

35 Commercial banking 6621.2 7278.4 8040.9 8782.1 9425.5 9016.9 9245.6 9109.6 9315.0 9187.2 9065.4 35

36 U.S.-chartered commercial banks 5980.7 6487.4 7144.1 7666.8 8197.9 8070.3 8309.9 8209.4 8249.5 8267.3 8127.7 36

37 Foreign banking offices in U.S. 513.3 657.8 761.6 963.3 1063.7 782.7 772.8 765.0 888.1 753.1 764.5 37

38 Bank holding companies 36.4 32.2 36.0 59.1 73.0 75.8 79.1 63.0 108.1 97.9 105.7 38

39 Banks in U.S.-affiliated areas 90.8 101.0 99.3 92.8 90.9 88.1 83.8 72.2 69.3 68.9 67.6 39

40 Savings institutions 1417.7 1617.1 1533.2 1596.1 1320.0 1070.4 1073.0 1061.7 1067.2 1081.0 1065.0 40

41 Credit unions 556.4 592.6 622.7 657.9 697.9 731.0 737.3 750.2 741.1 744.3 756.9 41

42 Property-casualty insurance companies 746.5 819.3 864.1 869.3 853.4 886.7 886.8 887.2 892.2 890.6 895.7 42

43 Life insurance companies 2643.9 2753.9 2786.4 2871.2 2882.8 3022.6 3042.7 3083.9 3134.4 3174.2 3210.8 43

44 Private pension funds 654.6 699.9 758.3 860.8 951.4 1063.0 1090.0 1114.3 1138.7 1171.0 1204.3 44

45 State and local govt. retirement funds 675.3 693.4 808.0 820.3 833.5 824.7 823.7 819.3 815.8 816.5 825.0 45

46 Federal government retirement funds 68.2 76.0 84.3 96.1 120.3 127.7 129.4 133.6 138.3 138.7 142.2 46

47 Money market mutual funds 1346.3 1340.8 1560.8 1936.4 2675.0 2031.0 1828.5 1706.8 1603.1 1621.0 1583.7 47

48 Mutual funds 1623.0 1747.1 1932.0 2203.1 2276.4 2657.2 2784.9 2834.3 2971.1 3031.4 3165.4 48

49 Closed-end funds 163.6 165.8 171.8 170.9 129.9 139.2 141.7 139.7 142.0 143.5 145.5 49

50 Exchange-traded funds 8.2 15.0 20.7 34.0 57.0 102.9 113.2 124.6 133.4 132.6 140.0 50

51 Government-sponsored enterprises 2613.0 2543.9 2590.5 2829.5 3033.6 2699.7 6577.4 6494.1 6385.1 6333.1 6308.3 51

52 Agency- and GSE-backed mortgage pools 3384.0 3548.5 3841.1 4464.4 4961.4 5376.7 980.2 1046.5 1096.0 1139.5 1187.0 52

53 ABS issuers 2554.9 3287.8 4087.6 4429.0 4036.4 3286.2 2652.1 2520.3 2401.6 2299.5 2225.3 53

54 Finance companies 1675.9 1740.6 1811.6 1828.2 1755.9 1532.6 1556.9 1526.1 1504.8 1482.8 1466.7 54

55 REITs 198.7 239.7 265.8 244.7 180.8 182.7 186.7 191.2 205.0 217.9 266.8 55

56 Brokers and dealers 394.9 477.2 583.4 803.1 717.4 525.3 544.9 529.1 539.7 557.5 558.9 56

57 Funding corporations 264.7 317.4 363.5 309.2 999.9 764.4 788.4 842.7 807.2 869.7 829.8 57

(1) Excludes corporate equities and mutual fund shares.
Z.1, June 9, 2011 61

L.2 Credit Market Debt Owed by Nonfinancial Sectors

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Domestic 24444.7 26769.5 29179.9 31699.4 33601.5 34633.6 34969.9 35205.3 35626.5 36112.7 36333.3 1

 2 By instrument 24444.7 26769.5 29179.9 31699.4 33601.5 34633.6 34969.9 35205.3 35626.5 36112.7 36333.3 2

 3 Commercial paper 97.8 90.1 112.5 123.8 131.5 58.4 73.6 82.0 97.9 82.9 110.5 3

 4 Treasury securities 4370.7 4678.0 4861.7 5099.2 6338.2 7781.9 8259.6 8603.8 8993.8 9361.5 9621.4 4

 5 Agency- and GSE-backed securities 24.3 23.8 23.5 23.1 23.3 23.5 23.6 23.9 24.0 24.2 24.5 5

 6 Municipal securities 2030.9 2225.8 2403.2 2618.8 2680.2 2808.9 2842.5 2840.0 2856.9 2925.3 2904.8 6

 7 Corporate bonds 2974.5 3031.1 3246.7 3557.9 3762.5 4139.7 4247.8 4305.7 4433.4 4559.6 4653.9 7

 8 Bank loans n.e.c. 1090.5 1225.0 1400.7 1647.4 1839.9 1553.4 1573.8 1549.9 1547.9 1577.6 1576.4 8

 9 Other loans and advances 1127.8 1247.1 1403.7 1714.7 1789.6 1635.3 1562.8 1545.6 1518.9 1501.0 1489.7 9

10 Mortgages 10508.2 11928.0 13311.9 14359.2 14442.2 14153.4 13980.1 13867.0 13745.9 13646.0 13548.1 10

11 Home 8271.1 9385.4 10457.0 11167.5 11069.4 10861.5 10726.7 10663.9 10587.7 10531.2 10457.6 11

12 Multifamily residential 579.6 642.0 682.4 764.1 812.3 822.0 815.9 812.5 813.4 812.4 813.1 12

13 Commercial 1561.8 1795.8 2064.4 2314.9 2427.0 2335.4 2303.5 2257.3 2211.9 2170.1 2145.1 13

14 Farm 95.7 104.8 108.0 112.7 133.6 134.5 134.0 133.4 132.8 132.3 132.3 14

15 Consumer credit 2220.1 2320.6 2416.0 2555.3 2594.1 2478.9 2406.1 2387.5 2407.8 2434.7 2404.0 15

16 By sector 24444.7 26769.5 29179.9 31699.4 33601.5 34633.6 34969.9 35205.3 35626.5 36112.7 36333.3 16

17 Household sector 10575.9 11763.7 12943.2 13805.6 13843.8 13611.2 13496.1 13437.0 13404.9 13386.2 13271.4 17

18 Nonfinancial business 7791.3 8449.4 9343.3 10572.2 11145.6 10857.2 10799.6 10753.5 10801.7 10876.1 10971.4 18

19 Corporate 5163.1 5472.3 5943.4 6703.0 6950.6 6963.9 6999.2 7015.9 7099.9 7176.3 7293.3 19

20 Nonfarm noncorporate 2455.3 2786.9 3195.6 3650.3 3972.1 3672.4 3584.1 3521.2 3481.2 3475.1 3462.1 20

21 Farm 172.9 190.1 204.3 218.9 222.9 220.9 216.3 216.4 220.5 224.7 216.0 21

22 State and local governments 1682.5 1854.5 2008.2 2199.2 2250.7 2359.8 2391.1 2387.1 2402.2 2464.7 2444.7 22

23 Federal government 4395.0 4701.9 4885.3 5122.3 6361.5 7805.4 8283.2 8627.7 9017.8 9385.6 9645.9 23

 Foreign credit market debt

24 held in U.S. 1438.8 1513.9 1882.6 2126.3 1708.8 2013.6 2035.9 2028.0 2068.5 2115.4 2166.9 24

25 Commercial paper 345.3 384.0 482.3 413.0 342.0 401.3 387.5 378.3 378.0 396.0 421.5 25

26 Bonds 985.0 1011.6 1275.5 1587.1 1237.3 1493.6 1528.9 1527.1 1560.9 1582.1 1596.0 26

27 Bank loans n.e.c. 69.9 84.4 98.3 102.8 107.9 96.8 97.2 100.6 107.7 115.1 127.1 27

28 Other loans and advances 38.6 34.0 26.6 23.4 21.6 21.9 22.2 22.0 22.0 22.2 22.3 28

29 Domestic and foreign 25883.5 28283.3 31062.6 33825.7 35310.3 36647.1 37005.8 37233.3 37695.1 38228.1 38500.2 29

L.3 Credit Market Debt Owed by Financial Sectors

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

 1 By instrument 11935.6 12996.0 14291.4 16217.5 17123.1 15618.4 14803.0 14559.5 14379.0 14171.3 14103.6 1

 2 Open market paper 956.0 1170.2 1363.2 1251.8 1125.8 677.6 619.8 567.7 574.6 578.6 599.2 2

 3 GSE issues 2676.3 2592.2 2627.8 2910.2 3181.9 2706.6 6653.3 6591.1 6498.1 6434.5 6437.3 3

 4 Agency- and GSE-backed mortgage pool sec. 3384.0 3548.5 3841.1 4464.4 4961.4 5376.7 980.2 1046.5 1096.0 1139.5 1187.0 4

 5 Corporate bonds 3962.4 4650.9 5459.6 6290.1 6016.7 5801.1 5575.1 5425.4 5353.7 5190.5 5092.0 5

 6 Bank loans n.e.c. 249.7 268.6 206.2 277.1 773.2 271.6 246.1 230.8 200.2 181.4 169.0 6

 7 Other loans and advances 575.8 620.2 641.4 867.1 900.5 617.9 561.4 530.5 488.0 473.2 442.5 7

 8 Mortgages 131.4 145.5 152.1 156.7 163.5 166.9 167.1 167.6 168.3 173.8 176.6 8

 9 By sector 11935.6 12996.0 14291.4 16217.5 17123.1 15618.4 14803.0 14559.5 14379.0 14171.3 14103.6 9

10 Commercial banking 738.7 823.9 1001.5 1262.8 1425.3 1665.6 1977.5 1922.8 1928.8 1852.1 1831.5 10

11 U.S.-chartered commercial banks 356.7 393.6 497.8 629.6 708.6 576.1 906.8 881.7 836.6 805.2 773.5 11

12 Foreign banking offices in U.S. 0.7 0.8 0.5 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Bank holding companies 381.3 429.5 503.3 632.7 716.6 1089.5 1070.7 1041.1 1092.2 1046.9 1058.0 13

14 Savings institutions 404.8 427.3 319.1 423.3 356.1 152.3 143.3 136.2 133.8 127.4 121.0 14

15 Credit unions 11.4 14.7 18.9 32.3 40.6 26.5 25.4 25.0 25.2 26.1 23.7 15

16 Life insurance companies 11.1 11.5 14.2 28.7 54.9 48.3 45.6 45.6 45.3 45.1 45.5 16

17 Government-sponsored enterprises 2676.3 2592.2 2627.8 2910.2 3181.9 2706.6 6653.3 6591.1 6498.1 6434.5 6437.3 17

18 Agency- and GSE-backed mortgage pools 3384.0 3548.5 3841.1 4464.4 4961.4 5376.7 980.2 1046.5 1096.0 1139.5 1187.0 18

19 ABS issuers 2662.3 3391.7 4199.5 4543.8 4134.6 3349.7 2709.4 2576.5 2457.8 2353.3 2280.6 19

20 Finance companies 1129.6 1108.6 1144.2 1279.6 1200.3 1044.1 1048.1 1017.7 974.9 962.1 950.1 20

21 REITs 340.1 395.5 411.0 421.2 372.6 338.9 343.4 345.0 353.8 350.1 356.4 21

22 Brokers and dealers 62.2 62.4 68.8 64.8 142.6 92.9 92.3 100.9 96.1 129.7 128.2 22

23 Funding corporations 515.1 619.9 645.3 786.4 1252.8 816.8 784.6 752.3 769.2 751.4 742.3 23
62 Z.1, June 9, 2011

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

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total 37819.1 41279.4 45353.9 50043.2 52433.4 52265.5 51808.8 51792.9 52074.0 52399.5 52603.8 1

 2 Open market paper 1399.1 1644.2 1958.0 1788.6 1599.3 1137.4 1081.0 1028.0 1050.6 1057.5 1131.2 2

 3 Treasury securities 4370.7 4678.0 4861.7 5099.2 6338.2 7781.9 8259.6 8603.8 8993.8 9361.5 9621.4 3

 4 Agency- and GSE-backed securities 6084.5 6164.5 6492.4 7397.7 8166.7 8106.8 7657.0 7661.4 7618.0 7598.2 7648.7 4

 5 Municipal securities 2030.9 2225.8 2403.2 2618.8 2680.2 2808.9 2842.5 2840.0 2856.9 2925.3 2904.8 5

 6 Corporate and foreign bonds 7921.8 8693.6 9981.8 11435.0 11016.5 11434.4 11351.9 11258.2 11348.0 11332.2 11342.0 6

 7 Bank loans n.e.c. 1410.1 1577.9 1705.2 2027.3 2721.1 1921.8 1917.0 1881.3 1855.7 1874.1 1872.4 7

 8 Other loans and advances 1742.2 1901.2 2071.6 2605.3 2711.7 2275.1 2146.5 2098.0 2028.9 1996.3 1954.5 8

 9 Mortgages 10639.6 12073.4 13463.9 14515.9 14605.7 14320.3 14147.2 14034.6 13914.2 13819.8 13724.7 9

10 Consumer credit 2220.1 2320.6 2416.0 2555.3 2594.1 2478.9 2406.1 2387.5 2407.8 2434.7 2404.0 10

 Memo:

 Selected claims not included above:

11 Corporate equities 18940.1 20636.1 24339.3 25576.0 15638.1 20101.4 20954.4 18841.4 20767.2 22961.6 24246.1 11

12 Mutual fund shares 5436.3 6048.9 7068.3 7829.0 5435.3 6961.6 7295.0 6764.2 7401.8 7934.5 8338.6 12

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

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

 Total credit market debt

 1 (from table L.4) 37819.1 41279.4 45353.9 50043.2 52433.4 52265.5 51808.8 51792.9 52074.0 52399.5 52603.8 1

 2 U.S. official reserve assets 83.4 61.1 62.2 67.3 74.2 175.1 170.1 165.7 177.0 175.8 184.3 2

 3 SDR certificates 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 Treasury currency 26.7 27.5 28.1 27.4 26.6 26.2 26.2 26.2 25.9 25.9 25.9 4

 5 Foreign deposits 957.0 997.8 1085.0 1342.0 939.9 768.3 777.3 818.7 830.9 853.1 864.3 5

 6 Net interbank liabilities 209.8 197.4 186.1 88.6 1890.5 1282.6 1202.3 1148.1 1038.8 1100.8 1767.5 6

 7 Checkable deposits and currency 1522.8 1527.2 1507.3 1532.9 2101.3 2093.4 2067.1 2173.1 2181.2 2359.8 2192.6 7

 8 Small time and savings deposits 4283.7 4598.1 4945.1 5224.5 5749.3 6326.5 6459.4 6443.4 6539.7 6624.9 6740.1 8

 9 Large time deposits 1505.1 1789.5 2050.8 2382.2 2191.6 1989.8 1887.8 1799.3 1836.9 1807.5 1811.6 9

10 Money market fund shares 1879.8 2006.9 2312.1 3033.1 3757.3 3258.3 2930.7 2760.4 2746.1 2755.3 2679.4 10

11 Security RPs 1433.3 1748.5 2151.7 2159.8 1271.4 1457.1 1466.7 1330.2 1296.8 1233.5 1263.3 11

12 Mutual fund shares 5436.3 6048.9 7068.3 7829.0 5435.3 6961.6 7295.0 6764.2 7401.8 7934.5 8338.6 12

13 Security credit 1038.2 1038.4 1249.9 1526.4 1128.5 1091.2 1108.8 1146.1 1173.7 1214.8 1258.0 13

14 Life insurance reserves 1060.4 1082.6 1163.7 1201.5 1179.8 1242.1 1249.5 1235.7 1261.9 1278.3 1297.8 14

15 Pension fund reserves 10635.5 11460.1 12750.6 13390.7 10408.5 11914.5 12291.0 11610.2 12322.1 13092.4 13419.2 15

16 Trade payables 2662.8 3003.6 3195.9 3398.0 3223.9 3149.0 3230.1 3301.2 3358.6 3382.2 3440.3 16

17 Taxes payable 219.2 214.5 237.0 167.7 44.0 39.0 48.5 43.5 55.7 51.1 71.5 17

18 Miscellaneous 13294.3 14288.4 15739.1 17559.5 19892.8 19978.8 19933.5 20804.0 20672.1 20426.9 20666.0 18

19 Total liabilities 84069.4 91372.0 101089.1 110976.1 111750.4 114024.1 113957.9 113368.1 114998.4 116721.5 118629.5 19

 + Financial assets not included in

 liabilities:

20 Gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 20

21 Corporate equities 18940.1 20636.1 24339.3 25576.0 15638.1 20101.4 20954.4 18841.4 20767.2 22961.6 24246.1 21

22 Household equity in noncorp. bus. 6596.2 7895.7 8818.5 8692.9 7096.2 6209.2 6322.2 6591.4 6271.5 6642.2 6585.3 22

 - Liabilities not identified as assets:

23 Treasury currency -9.7 -9.1 -10.1 -11.3 -12.1 -16.5 -16.5 -17.0 -17.5 -17.6 -17.9 23

24 Foreign deposits 767.2 779.5 886.3 1083.9 729.4 593.4 599.9 627.9 617.4 623.9 635.5 24

25 Net interbank transactions 24.9 21.3 19.3 21.1 51.7 86.1 58.9 74.0 69.4 61.8 76.1 25

26 Security RPs 577.1 683.3 856.9 622.8 27.7 408.7 463.2 440.6 359.2 293.3 223.6 26

27 Taxes payable 28.4 -18.1 -48.1 -174.8 -345.3 -377.0 -372.4 -386.3 -386.7 -397.8 -386.8 27

28 Miscellaneous -5054.8 -5305.4 -6541.9 -7202.1 -4889.7 -5421.6 -5395.3 -4907.8 -5178.5 -5217.6 -4929.1 28

 - Floats not included in assets:

29 Checkable deposits: State and local govt. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Federal govt. 11.2 1.8 0.1 2.8 1.2 2.0 1.4 -0.6 1.6 2.5 2.6 30

31 Private domestic 5.8 7.4 7.4 7.3 5.3 4.2 3.3 3.4 3.5 3.2 3.3 31

32 Trade credit 40.4 10.0 159.2 112.8 120.7 98.2 119.4 95.5 118.1 187.8 166.7 32

33 Totals identified to sectors as assets 113226.4 123744.0 138928.8 150793.5 138806.9 144968.3 145783.8 142882.2 146461.8 150796.9 153698.0 33
Z.1, June 9, 2011 63

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

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 34641.8 37563.5 42389.7 45481.0 37844.6 41696.5 42451.3 40713.5 42274.7 44304.0 45513.6 1

 2 Foreign deposits 57.5 59.9 65.2 80.6 56.5 46.2 46.7 49.2 49.9 51.3 51.9 2

 3 Checkable deposits and currency 641.5 591.0 621.9 605.9 811.4 860.9 756.2 718.0 676.4 732.5 742.9 3

 4 Time and savings deposits 4727.4 5238.0 5744.8 6247.9 6440.9 6541.4 6668.7 6670.9 6727.3 6772.0 6826.1 4

 5 Money market fund shares 970.6 1018.2 1186.6 1421.0 1657.2 1367.8 1262.9 1212.0 1205.5 1217.3 1253.6 5

 6 Securities 13828.1 15001.1 17225.2 18233.8 12946.8 15651.0 16125.7 15187.4 16011.7 17140.3 17901.3 6

 7 Open market paper 83.7 98.4 117.5 107.3 6.0 34.6 44.6 54.2 63.0 63.4 67.9 7

 8 U.S. savings bonds 204.4 205.1 202.4 196.4 194.0 191.2 190.2 189.6 188.7 187.9 186.8 8

 9 Other Treasury securities 338.4 315.4 238.1 118.6 105.5 632.8 784.8 963.1 980.4 971.9 817.9 9

10 Agency- and GSE-backed securities 402.6 496.3 405.0 669.3 711.7 104.3 55.2 67.5 79.9 108.7 185.1 10

11 Municipal securities 746.7 825.3 877.8 901.3 908.7 1014.2 1045.8 1048.2 1041.9 1088.1 1082.5 11

12 Corporate and foreign bonds 1140.7 1298.5 1552.8 2017.1 1956.3 2067.5 1969.9 1853.7 1744.3 1763.1 1718.8 12

13 Corporate equities (2) 7483.9 8093.0 9643.7 9627.0 5738.8 7429.3 7676.2 6955.9 7500.8 8239.9 8791.9 13

14 Mutual fund shares 3427.7 3669.1 4188.1 4596.8 3325.9 4177.2 4359.0 4055.2 4412.6 4717.2 5050.4 14

15 Private life insurance reserves 1018.8 1039.9 1119.5 1156.1 1133.4 1194.5 1202.1 1188.1 1214.1 1229.9 1249.3 15

16 Private insured pension reserves 2027.9 2197.4 2332.4 2450.8 2184.6 2323.0 2371.5 2305.3 2406.1 2504.7 2566.0 16

17 Private noninsured pension reserves 4963.0 5427.8 6120.5 6444.8 4588.0 5507.4 5745.0 5352.4 5765.0 6148.3 6308.9 17

18 Govt. insurance and pension reserves 3686.1 3877.6 4341.8 4540.5 3682.2 4131.7 4221.9 4000.1 4198.8 4487.8 4592.9 18

19 Miscellaneous and other assets 2720.8 3112.6 3631.8 4299.6 4343.5 4072.7 4050.5 4030.2 4020.0 4020.0 4020.6 19

20 Total liabilities 14714.1 16428.8 18268.8 19768.5 20115.2 19696.3 19529.0 19447.4 19388.4 19410.9 19336.0 20

21 Mortgage debt on nonfarm homes 8247.6 9354.3 10417.7 11125.3 11036.7 10841.2 10708.3 10647.9 10572.9 10517.6 10445.2 21

22 Other mortgage debt 1688.5 1821.0 2051.2 2340.1 2581.7 2518.1 2491.5 2458.8 2431.6 2412.8 2406.3 22

23 Consumer credit 2220.1 2320.6 2416.0 2555.3 2594.1 2478.9 2406.1 2387.5 2407.8 2434.7 2404.0 23

24 Policy loans 106.8 107.6 110.9 114.5 120.4 121.1 121.7 122.4 123.5 124.5 124.8 24

25 Security credit 264.0 232.4 292.1 325.5 164.8 203.0 196.4 217.0 233.7 278.2 315.7 25

26 Other liabilities 2187.0 2593.0 2981.0 3307.9 3617.5 3534.1 3605.0 3613.8 3618.9 3643.1 3640.0 26

(1) Combined statement for households and nonprofit organizations, nonfarm nonfinancial noncorporate business, and noncorporate 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).
64 Z.1, June 9, 2011

L.100 Households and Nonprofit Organizations (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 39067.3 42850.9 48081.9 50566.5 41238.3 44482.9 45403.1 43980.5 45264.8 47682.9 48847.1 1

 2 Deposits 5732.4 6139.9 6753.1 7406.1 8013.1 7935.7 7867.6 7795.1 7815.1 7933.9 8038.1 2

 3 Foreign deposits 57.5 59.9 65.2 80.6 56.5 46.2 46.7 49.2 49.9 51.3 51.9 3

 4 Checkable deposits and currency 344.1 216.9 173.1 90.3 292.0 380.0 282.6 250.7 214.9 273.5 285.2 4

 5 Time and savings deposits 4426.8 4913.9 5400.4 5888.5 6082.8 6211.2 6343.8 6350.6 6411.3 6458.0 6513.2 5

 6 Money market fund shares 904.1 949.2 1114.5 1346.7 1581.8 1298.3 1194.5 1144.6 1139.0 1151.2 1187.7 6

 7 Credit market instruments 2999.2 3326.5 3462.5 4072.8 3966.9 4119.2 4169.6 4253.0 4172.6 4254.7 4128.8 7

 8 Open market paper 83.7 98.4 117.5 107.3 6.0 34.6 44.6 54.2 63.0 63.4 67.9 8

 9 Treasury securities 492.6 464.3 384.1 255.6 247.7 776.2 928.0 1106.3 1123.4 1114.4 959.4 9

10 Savings bonds 204.4 205.1 202.4 196.4 194.0 191.2 190.2 189.6 188.7 187.9 186.8 10

11 Other Treasury 288.2 259.2 181.7 59.2 53.7 585.0 737.8 916.7 934.7 926.5 772.7 11

12 Agency- and GSE-backed securities 402.6 496.3 405.0 669.3 711.7 104.3 55.2 67.5 79.9 108.7 185.1 12

13 Municipal securities 742.3 820.9 872.0 896.0 903.8 1009.6 1041.4 1043.8 1037.6 1083.8 1078.2 13

14 Corporate and foreign bonds 1140.7 1298.5 1552.8 2017.1 1956.3 2067.5 1969.9 1853.7 1744.3 1763.1 1718.8 14

15 Other loans and advances (2) 5.9 8.7 9.1 17.6 29.7 24.5 29.6 29.6 29.7 29.7 29.7 15

16 Mortgages 131.3 139.4 122.1 109.8 111.8 102.5 101.0 97.7 94.8 91.6 89.7 16

17 Corporate equities (3) 7483.9 8093.0 9643.7 9627.0 5738.8 7429.3 7676.2 6955.9 7500.8 8239.9 8791.9 17

18 Mutual fund shares 3427.7 3669.1 4188.1 4596.8 3325.9 4177.2 4359.0 4055.2 4412.6 4717.2 5050.4 18

19 Security credit 578.3 575.3 655.7 866.4 742.7 668.6 680.0 686.0 696.8 694.3 703.3 19

20 Life insurance reserves 1060.4 1082.6 1163.7 1201.5 1179.8 1242.1 1249.5 1235.7 1261.9 1278.3 1297.8 20

21 Pension fund reserves 10635.5 11460.1 12750.6 13390.7 10408.5 11914.5 12291.0 11610.2 12322.1 13092.4 13419.2 21

22 Equity in noncorporate business 6596.2 7895.7 8818.5 8692.9 7096.2 6209.2 6322.2 6591.4 6271.5 6642.2 6585.3 22

23 Miscellaneous assets 553.8 608.7 646.1 712.2 766.4 787.1 788.0 798.1 811.5 830.0 832.3 23

24 Total liabilities 11035.6 12204.8 13458.1 14369.6 14265.8 14077.4 13963.3 13930.8 13916.0 13948.4 13874.7 24

25 Credit market instruments 10575.9 11763.7 12943.2 13805.6 13843.8 13611.2 13496.1 13437.0 13404.9 13386.2 13271.4 25

26 Home mortgages (4) 7838.2 8877.3 9866.5 10540.2 10495.7 10342.1 10221.9 10173.7 10106.1 10055.4 9987.9 26

27 Consumer credit 2220.1 2320.6 2416.0 2555.3 2594.1 2478.9 2406.1 2387.5 2407.8 2434.7 2404.0 27

28 Municipal securities 189.1 205.2 224.1 241.2 249.3 264.1 266.0 266.9 266.3 268.2 268.2 28

29 Bank loans n.e.c. (5) 26.7 36.4 86.4 99.7 117.7 147.7 226.3 237.4 256.2 263.1 247.6 29

30 Other loans and advances 119.0 119.0 123.8 127.0 133.2 133.7 134.3 134.7 135.8 136.1 136.4 30

31 Commercial mortgages 182.6 205.3 226.5 242.2 253.8 244.7 241.4 236.9 232.6 228.8 227.3 31

32 Security credit 264.0 232.4 292.1 325.5 164.8 203.0 196.4 217.0 233.7 278.2 315.7 32

33 Trade payables 173.3 186.3 199.9 214.5 230.2 241.2 246.3 251.3 254.9 259.3 262.5 33

 Deferred and unpaid

34 life insurance premiums 22.5 22.4 22.8 23.9 27.0 22.1 24.6 25.5 22.6 24.7 25.2 34

(1) Sector includes farm households and domestic hedge funds. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations.

(2) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(3) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 18) and life insurance and pension reserves (lines 20 and 21).

(4) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 22.

(5) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.108, line 15.
Z.1, June 9, 2011 65

L.101 Nonfinancial Business (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 13082.9 14482.8 15760.5 17330.2 16596.4 16965.7 17062.7 17142.9 17384.0 17656.1 17792.3 1

 2 Foreign deposits 53.7 63.6 49.3 50.3 24.7 31.6 38.2 49.1 59.6 72.1 69.4 2

 3 Checkable deposits and currency 495.6 646.2 604.5 662.9 558.0 656.1 725.8 760.0 812.3 876.0 896.8 3

 4 Time and savings deposits 701.1 774.5 841.4 800.7 740.0 821.3 785.2 760.5 789.5 788.0 820.1 4

 5 Money market fund shares 375.1 417.1 488.5 618.7 777.9 715.6 636.6 591.7 588.3 583.6 563.2 5

 6 Security RPs 6.4 14.6 15.5 8.1 7.2 8.0 9.4 9.6 7.5 13.7 10.9 6

 7 Credit market instruments 383.4 437.2 425.6 356.4 313.4 312.3 314.6 319.4 327.8 316.0 321.9 7

 8 Commercial paper 95.0 111.0 122.7 69.5 57.3 56.9 58.2 65.3 74.2 73.3 67.8 8

 9 Treasury securities 84.2 108.3 101.8 97.7 82.3 86.9 92.3 93.9 93.9 84.3 94.0 9

10 Agency- and GSE-backed securities 11.3 17.4 15.2 12.8 10.2 13.0 15.1 15.9 16.1 13.0 16.2 10

11 Municipal securities 36.2 36.6 33.9 34.5 31.1 31.8 30.6 27.8 28.9 28.0 30.8 11

12 Mortgages 97.4 104.4 94.5 83.5 72.8 66.4 65.0 63.6 62.3 61.3 60.4 12

13 Consumer credit 59.2 59.6 57.6 58.6 59.8 57.2 53.5 52.8 52.4 56.0 52.8 13

14 Mutual fund shares 130.1 140.0 180.7 191.1 125.8 190.2 199.2 188.1 206.6 222.9 231.2 14

15 Trade receivables 2195.0 2539.2 2560.8 2778.7 2603.7 2596.5 2644.1 2735.2 2767.3 2715.4 2791.6 15

16 Miscellaneous assets 8742.4 9450.5 10594.1 11863.5 11445.6 11634.2 11709.6 11729.2 11825.2 12068.3 12087.2 16

17 Total liabilities 14060.2 15406.0 16632.3 18315.1 19074.9 18638.9 18641.1 18693.9 18801.8 18912.6 19022.7 17

18 Credit market instruments 7791.3 8449.4 9343.3 10572.2 11145.6 10857.2 10799.6 10753.5 10801.7 10876.1 10971.4 18

19 Commercial paper 97.8 90.1 112.5 123.8 131.5 58.4 73.6 82.0 97.9 82.9 110.5 19

20 Municipal securities 169.2 176.8 182.2 190.3 193.0 198.5 199.0 199.8 202.4 206.8 206.5 20

21 Corporate bonds 2974.5 3031.1 3246.7 3557.9 3762.5 4139.7 4247.8 4305.7 4433.4 4559.6 4653.9 21

22 Bank loans n.e.c. 1063.8 1188.5 1314.3 1547.7 1722.2 1405.7 1347.6 1312.4 1291.6 1314.5 1328.7 22

23 Other loans and advances 998.8 1117.4 1268.7 1575.8 1643.7 1488.1 1414.9 1397.1 1369.1 1350.4 1338.8 23

24 Mortgages 2487.3 2845.4 3218.9 3576.7 3692.7 3566.7 3516.8 3456.5 3407.1 3361.9 3332.9 24

25 Trade payables 1786.4 2035.1 2161.7 2272.8 2055.6 1936.3 1981.8 2032.7 2066.4 2105.5 2147.0 25

26 Taxes payable 166.0 172.9 181.1 135.3 145.1 134.1 146.2 139.8 143.8 133.1 145.1 26

27 Miscellaneous liabilities 4316.5 4748.6 4946.1 5334.7 5728.6 5711.4 5713.5 5767.9 5789.9 5797.9 5759.2 27

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
66 Z.1, June 9, 2011

L.102 Nonfarm Nonfinancial Corporate Business

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 10911.8 11873.5 12629.7 13718.3 12885.8 13536.0 13685.8 13812.2 14096.0 14387.6 14534.7 1

 2 Foreign deposits 53.7 63.6 49.3 50.3 24.7 31.6 38.2 49.1 59.6 72.1 69.4 2

 3 Checkable deposits and currency 194.2 267.8 150.9 141.9 32.7 168.7 245.6 286.0 344.1 410.4 432.6 3

 4 Time and savings deposits 400.5 450.4 497.0 441.3 381.9 491.2 460.3 440.2 473.5 473.9 507.2 4

 5 Money market fund shares 308.6 348.2 416.3 544.4 702.6 646.1 568.3 524.3 521.8 517.5 497.4 5

 6 Security RPs 6.4 14.6 15.5 8.1 7.2 8.0 9.4 9.6 7.5 13.7 10.9 6

 7 Credit market instruments 298.0 340.4 328.8 249.7 217.5 223.9 227.6 233.7 243.2 231.9 238.1 7

 8 Commercial paper 95.0 111.0 122.7 69.5 57.3 56.9 58.2 65.3 74.2 73.3 67.8 8

 9 Treasury securities 34.0 52.1 45.5 38.3 30.5 39.1 45.3 47.6 48.2 38.9 48.7 9

10 Agency- and GSE-backed securities 11.3 17.4 15.2 12.8 10.2 13.0 15.1 15.9 16.1 13.0 16.2 10

11 Municipal securities 31.8 32.1 28.1 29.2 26.2 27.3 26.1 23.4 24.6 23.7 26.5 11

12 Mortgages 66.6 68.3 59.8 41.4 33.6 30.3 29.5 28.7 27.8 27.0 26.2 12

13 Consumer credit 59.2 59.6 57.6 58.6 59.8 57.2 53.5 52.8 52.4 56.0 52.8 13

14 Mutual fund shares 130.1 140.0 180.7 191.1 125.8 190.2 199.2 188.1 206.6 222.9 231.2 14

15 Trade receivables 1830.6 2108.2 2090.0 2253.0 2081.1 2114.6 2170.0 2267.7 2306.0 2257.1 2334.8 15

16 Miscellaneous assets 7689.6 8140.4 8901.1 9838.7 9312.3 9661.6 9767.2 9813.3 9933.8 10188.0 10213.1 16

17 U.S. direct investment abroad (1) 2094.7 2205.7 2440.7 2892.7 3006.3 3261.6 3362.1 3434.5 3508.6 3560.2 3624.4 17

18 Insurance receivables 255.5 276.2 282.7 290.1 300.0 298.2 297.8 300.4 302.2 300.7 300.5 18

19 Equity in GSEs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Investment in finance company subs. 23.6 117.0 140.1 81.5 80.5 71.2 95.9 94.6 94.2 91.5 76.0 20

21 Other 5315.9 5541.5 6037.6 6574.3 5925.6 6030.6 6011.4 5983.8 6028.8 6235.6 6212.3 21

22 Total liabilities 10349.3 11145.3 11781.9 12872.6 13173.3 12964.6 13019.9 13121.7 13273.6 13395.9 13508.7 22

23 Credit market instruments 5163.1 5472.3 5943.4 6703.0 6950.6 6963.9 6999.2 7015.9 7099.9 7176.3 7293.3 23

24 Commercial paper 97.8 90.1 112.5 123.8 131.5 58.4 73.6 82.0 97.9 82.9 110.5 24

25 Municipal securities (2) 169.2 176.8 182.2 190.3 193.0 198.5 199.0 199.8 202.4 206.8 206.5 25

26 Corporate bonds (1) 2974.5 3031.1 3246.7 3557.9 3762.5 4139.7 4247.8 4305.7 4433.4 4559.6 4653.9 26

27 Bank loans n.e.c. 542.7 508.7 518.3 609.9 663.6 542.6 539.0 525.2 519.2 528.8 538.3 27

28 Other loans and advances (3) 824.0 932.5 1061.7 1350.2 1405.0 1260.9 1189.9 1173.5 1136.2 1112.4 1116.5 28

29 Mortgages 555.0 733.1 822.0 870.9 795.1 763.8 749.9 729.8 710.7 685.8 667.5 29

30 Trade payables 1499.9 1699.4 1813.0 1898.9 1669.0 1579.0 1627.6 1685.5 1729.8 1776.7 1811.4 30

31 Taxes payable 88.0 86.2 85.4 35.8 39.0 35.7 49.3 44.2 49.4 39.2 51.6 31

32 Miscellaneous liabilities 3598.3 3887.4 3940.0 4234.8 4514.8 4386.0 4343.9 4376.2 4394.5 4403.7 4352.5 32

33 Foreign direct investment in U.S. 1409.8 1549.4 1722.7 2014.5 2176.5 2253.5 2292.5 2312.9 2374.7 2396.7 2444.3 33

34 Pension fund contributions payable 46.6 44.8 42.8 47.2 47.9 50.5 49.9 49.6 49.4 49.2 49.1 34

35 Other 2141.8 2293.2 2174.5 2173.1 2290.3 2082.1 2001.5 2013.7 1970.5 1957.8 1859.0 35

 Memo:

36 Trade receivables net of payables 330.7 408.9 277.0 354.1 412.1 535.6 542.4 582.2 576.2 480.4 523.4 36

37 Market value of equities 12088.6 12686.6 14602.3 15725.8 10014.2 12490.9 12949.9 11681.7 12793.9 14227.8 15087.9 37

38 Securities and mortgages 3698.7 3941.0 4250.9 4619.1 4750.6 5102.0 5196.7 5235.3 5346.5 5452.1 5527.9 38

39 Loans and short-term paper 1464.4 1531.3 1692.6 2083.9 2200.1 1861.9 1802.5 1780.6 1753.4 1724.2 1765.3 39

40 Total short-term liabilities (4) 3052.4 3316.9 3591.0 4018.6 3908.0 3476.6 3479.3 3510.3 3532.6 3540.1 3628.3 40

41 Total liquid assets (5) 1265.7 1497.0 1521.2 1526.7 1398.9 1672.2 1665.6 1649.6 1776.0 1859.5 1907.8 41

 Analytical measures (percent)

42 Long-term debt/credit market debt 71.6 72.0 71.5 68.9 68.3 73.3 74.2 74.6 75.3 76.0 75.8 42

43 Short-term debt/credit market debt 28.4 28.0 28.5 31.1 31.7 26.7 25.8 25.4 24.7 24.0 24.2 43

44 Liquid assets/short-term liabilities 41.5 45.1 42.4 38.0 35.8 48.1 47.9 47.0 50.3 52.5 52.6 44

(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 from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table L.216.

(4) 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.

(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
Z.1, June 9, 2011 67

L.103 Nonfarm Nonfinancial Noncorporate Business

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2105.6 2541.8 3057.2 3533.1 3629.0 3345.6 3292.5 3245.8 3202.6 3182.7 3171.5 1

 2 Checkable deposits and currency 279.2 355.5 428.6 494.3 497.6 458.7 451.5 445.1 439.1 436.4 434.9 2

 3 Time and savings deposits 300.6 324.1 344.4 359.3 358.1 330.1 324.9 320.3 316.0 314.1 312.9 3

 4 Money market fund shares 66.5 69.0 72.2 74.3 75.4 69.5 68.4 67.4 66.5 66.1 65.9 4

 5 Treasury securities 50.2 56.2 56.3 59.3 51.8 47.8 47.0 46.3 45.7 45.4 45.3 5

 6 Municipal securities 4.3 4.4 5.8 5.3 4.9 4.5 4.5 4.4 4.3 4.3 4.3 6

 7 Mortgages 30.8 36.2 34.6 42.1 39.1 36.1 35.5 35.0 34.5 34.3 34.2 7

 8 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Trade receivables 364.3 430.9 470.9 525.6 522.7 481.9 474.2 467.5 461.3 458.4 456.8 9

10 Miscellaneous assets 1009.5 1265.5 1644.4 1972.8 2079.4 1917.1 1886.6 1859.9 1835.1 1823.7 1817.3 10

11 Insurance receivables 60.5 65.3 66.9 68.6 70.7 71.0 70.9 71.5 71.9 71.6 71.5 11

12 Equity investment in GSEs (1) 2.0 1.8 1.9 2.2 4.1 4.8 4.8 5.0 5.0 4.8 4.8 12

13 Other 947.1 1198.4 1575.6 1902.0 2004.7 1841.3 1811.0 1783.4 1758.2 1747.4 1741.0 13

14 Total liabilities 3529.0 4064.3 4646.8 5228.4 5658.9 5428.9 5377.0 5329.3 5286.6 5276.4 5274.3 14

15 Credit market instruments 2455.3 2786.9 3195.6 3650.3 3972.1 3672.4 3584.1 3521.2 3481.2 3475.1 3462.1 15

16 Bank loans n.e.c. 473.4 629.9 742.8 882.3 1000.0 804.6 753.9 729.9 714.4 727.4 736.5 16

17 Other loans and advances 145.3 149.5 163.9 174.9 208.1 199.5 197.3 198.0 203.3 203.8 192.6 17

18 Mortgages 1836.6 2007.5 2288.9 2593.1 2764.0 2668.4 2632.9 2593.3 2563.6 2543.8 2533.1 18

19 Trade payables 277.4 329.4 349.4 378.7 366.8 332.8 326.4 320.8 315.6 313.2 311.9 19

20 Taxes payable 78.0 86.7 95.7 99.5 106.2 98.4 96.9 95.6 94.4 93.9 93.6 20

21 Miscellaneous liabilities 718.2 861.2 1006.1 1099.9 1213.9 1325.4 1369.6 1391.7 1395.4 1394.2 1406.7 21

(1) Equity in the Farm Credit System.

L.104 Farm Business (1)

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

 1 Total financial assets 65.5 67.5 73.7 78.8 81.6 84.1 84.5 84.9 85.3 85.7 86.2 1

 2 Checkable deposits and currency 22.3 22.9 25.0 26.8 27.7 28.6 28.7 28.9 29.0 29.2 29.3 2

 3 Miscellaneous assets 43.2 44.5 48.6 52.0 53.8 55.5 55.8 56.0 56.3 56.6 56.9 3

 4 Insurance receivables 40.5 41.7 45.6 48.5 51.8 53.5 53.7 54.1 54.1 54.1 54.3 4

 5 Equity investment in GSEs (2) 2.7 2.8 3.0 3.6 2.0 2.0 2.1 1.9 2.2 2.5 2.6 5

 6 Total liabilities 181.9 196.4 203.6 214.1 242.7 245.4 244.1 242.8 241.5 240.3 239.7 6

 7 Credit market instruments 172.9 190.1 204.3 218.9 222.9 220.9 216.3 216.4 220.5 224.7 216.0 7

 8 Bank loans n.e.c. 47.7 49.9 53.2 55.5 58.7 58.5 54.6 57.4 58.1 58.3 53.9 8

 9 Other loans and advances 29.5 35.4 43.0 50.7 30.6 27.8 27.7 25.6 29.6 34.2 29.8 9

10 Mortgages (3) 95.7 104.8 108.0 112.7 133.6 134.5 134.0 133.4 132.8 132.3 132.3 10

11 Trade payables 9.1 6.3 -0.7 -4.8 19.8 24.5 27.8 26.4 21.0 15.5 23.7 11

(1) Corporate and noncorporate farms.

(2) Equity in the Farm Credit System.

(3) Excludes mortgages on farm houses.
68 Z.1, June 9, 2011

L.105 State and Local Governments (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2029.5 2246.9 2460.7 2590.6 2508.6 2598.5 2643.2 2618.2 2666.0 2739.3 2731.8 1

 2 Checkable deposits and currency 47.0 56.5 61.9 57.1 65.6 84.9 81.0 81.8 81.4 91.5 90.1 2

 3 Time and savings deposits 170.6 183.3 209.6 245.9 265.1 275.9 281.9 265.1 268.7 275.5 278.8 3

 4 Money market fund shares 66.6 71.7 78.5 81.9 80.5 85.0 86.8 86.1 88.1 90.8 90.9 4

 5 Security RPs 131.2 141.2 154.6 161.2 158.6 167.3 170.9 169.4 173.5 178.7 179.0 5

 6 Credit market instruments 1198.1 1352.0 1480.6 1507.8 1382.4 1351.6 1358.8 1340.5 1344.4 1365.7 1342.9 6

 7 Open market paper 171.7 184.8 202.4 191.1 127.6 74.1 68.7 56.8 52.2 49.0 39.3 7

 8 Treasury securities 389.1 481.4 526.9 534.1 485.5 505.6 506.1 511.6 508.0 516.7 506.1 8

 9 Agency- and GSE-backed securities 373.2 401.6 439.9 458.7 451.1 436.1 441.1 432.1 438.8 448.4 444.1 9

10 Municipal securities 4.7 5.0 5.5 5.7 5.6 5.9 6.1 6.0 6.2 6.3 6.3 10

11 Corporate and foreign bonds 118.2 127.2 139.4 145.3 142.9 150.9 154.0 152.7 156.4 161.1 161.3 11

12 Mortgages 141.2 151.9 166.4 172.8 169.7 179.0 182.8 181.2 182.8 184.1 185.7 12

13 Corporate equities 90.0 96.8 106.0 111.6 86.2 122.3 117.2 108.7 111.5 115.1 115.2 13

14 Mutual fund shares 27.5 29.6 32.5 33.8 33.3 35.1 35.9 30.6 31.4 32.5 32.6 14

15 Trade receivables 134.4 144.7 158.5 165.3 162.5 171.5 175.1 173.7 177.9 183.2 183.4 15

16 Taxes receivable 99.6 141.0 189.0 237.5 269.8 280.9 281.8 286.9 295.5 298.0 303.5 16

17 Miscellaneous assets 64.6 30.0 -10.5 -11.6 4.5 24.0 53.7 75.5 93.5 108.4 115.4 17

18 Total liabilities 2132.4 2336.5 2524.6 2752.7 2843.7 2991.2 3032.2 3037.9 3062.8 3135.2 3125.2 18

19 Credit market instruments 1682.5 1854.5 2008.2 2199.2 2250.7 2359.8 2391.1 2387.1 2402.2 2464.7 2444.7 19

20 Municipal securities 1672.5 1843.9 1996.9 2187.3 2237.9 2346.3 2377.4 2373.3 2388.3 2450.3 2430.2 20

21 Short-term 100.2 105.9 102.8 120.1 132.6 135.6 134.8 119.6 130.5 150.0 147.7 21

22 Other 1572.3 1737.9 1894.2 2067.2 2105.3 2210.7 2242.7 2253.7 2257.8 2300.3 2282.5 22

23 U.S. government loans 10.0 10.6 11.2 11.9 12.7 13.5 13.7 13.8 13.9 14.4 14.5 23

24 Trade payables 449.9 482.0 516.4 553.5 593.0 631.4 641.1 650.8 660.6 670.5 680.5 24

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

L.106 Federal Government

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

 1 Total financial assets 640.6 643.7 641.3 686.6 1268.2 1351.3 1378.3 1432.2 1513.0 1570.9 1401.8 1

 2 U.S. official reserve assets 54.5 35.3 34.5 36.4 41.9 94.6 92.2 89.8 96.3 95.4 102.1 2

 3 Checkable deposits and currency 21.9 36.8 32.9 56.5 368.0 193.6 219.5 291.6 310.2 342.1 117.5 3

 4 Time and savings deposits 2.4 1.4 1.7 2.8 1.6 1.9 2.0 1.8 1.8 2.0 1.5 4

 5 Credit market instruments 274.7 273.8 279.9 286.5 373.1 669.2 685.4 688.0 734.0 754.6 786.0 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 54.4 196.4 186.4 175.3 164.4 149.2 138.4 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.6 0.6 0.7 0.8 0.9 0.9 7

 8 Other loans and advances 114.4 107.4 108.0 105.8 111.8 177.9 181.5 181.1 182.0 181.5 183.7 8

 9 Mortgages 74.2 76.6 80.3 82.4 95.8 108.4 107.1 108.4 106.6 106.6 107.8 9

10 Consumer credit (1) 86.1 89.8 91.7 98.4 111.0 186.0 209.8 222.6 280.3 316.4 355.2 10

11 Corporate equities (2) 0.0 0.0 0.0 0.0 188.7 67.3 48.0 45.5 44.5 41.3 55.4 11

12 Trade receivables 61.8 71.0 59.4 60.6 64.7 43.6 45.0 42.0 42.7 43.4 44.2 12

13 Taxes receivable 91.2 91.6 96.1 105.0 119.4 135.1 139.1 143.0 146.9 150.8 154.8 13

14 Miscellaneous assets 134.0 133.7 136.8 138.7 110.8 145.8 147.2 130.5 136.8 141.4 140.3 14

15 Total liabilities 5556.0 5947.6 6193.2 6537.4 7888.3 9410.2 9881.6 10240.5 10653.6 11102.5 11356.3 15

16 SDR allocations 7.6 7.0 7.4 7.7 7.5 55.4 53.6 52.2 55.0 54.4 56.0 16

17 SDR certificates 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 17

18 Treasury currency 26.7 27.5 28.1 27.4 26.6 26.2 26.2 26.2 25.9 25.9 25.9 18

19 Credit market instruments 4395.0 4701.9 4885.3 5122.3 6361.5 7805.4 8283.2 8627.7 9017.8 9385.6 9645.9 19

20 Savings bonds 204.4 205.1 202.4 196.4 194.0 191.2 190.2 189.6 188.7 187.9 186.8 20

21 Other Treasury securities 4166.3 4472.9 4659.4 4902.8 6144.2 7590.7 8069.4 8414.2 8805.1 9173.6 9434.6 21

22 Budget agency securities 24.3 23.8 23.5 23.1 23.3 23.5 23.6 23.9 24.0 24.2 24.5 22

23 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Trade payables 169.0 202.7 208.9 238.2 260.7 208.9 222.2 232.5 232.4 233.5 239.7 24

25 Insurance reserves 41.6 42.7 44.2 45.4 46.4 47.5 47.4 47.6 47.8 48.4 48.5 25

26 Miscellaneous liabilities (3) 913.9 963.7 1017.2 1094.2 1183.5 1261.6 1243.8 1249.1 1269.6 1349.4 1335.1 26

27 Nonmarketable securities held by pension plans 855.9 882.9 918.7 952.0 1015.3 1077.2 1060.6 1064.8 1081.5 1142.9 1128.8 27

28 Other 58.0 80.7 98.6 142.2 168.2 184.4 183.2 184.3 188.1 206.5 206.3 28

(1) Student loans.

(2) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at market price.

(3) 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.
Z.1, June 9, 2011 69

L.107 Rest of the World

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 10538.6 11530.0 13979.6 15935.3 15008.3 15816.5 16044.6 16241.2 16650.6 16907.8 17409.8 1

 2 SDR allocations 7.6 7.0 7.4 7.7 7.5 55.4 53.6 52.2 55.0 54.4 56.0 2

 3 Net interbank assets 118.3 106.0 96.7 -56.9 362.9 70.1 27.8 48.1 -14.5 19.4 232.4 3

 4 U.S. checkable deposits and currency 285.3 300.1 311.6 306.1 370.1 360.7 363.2 366.4 374.6 389.8 410.1 4

 5 U.S. time deposits 149.2 155.9 167.4 207.6 273.1 229.5 220.0 223.8 229.6 232.8 252.9 5

 6 Money market fund shares 22.9 23.0 27.0 46.0 69.7 80.6 81.4 82.2 83.0 83.8 84.6 6

 7 Security RPs (net) 185.7 231.2 364.6 338.4 114.9 31.1 -31.2 -123.0 -118.5 -99.1 -37.3 7

 8 Credit market instruments 4634.7 5191.3 6199.7 7272.6 7503.1 7784.7 7945.1 8089.7 8313.5 8417.4 8502.4 8

 9 Open market paper 229.8 239.6 286.3 278.1 232.9 191.5 194.1 187.4 192.5 192.4 200.5 9

10 Treasury securities 1813.6 1984.4 2126.2 2376.4 3251.4 3697.2 3890.0 4009.5 4263.0 4377.8 4445.4 10

11 Official 1251.9 1340.6 1558.3 1736.7 2400.5 2871.1 2960.7 2978.9 3167.9 3245.2 3290.7 11

12 Private 561.6 643.8 567.9 639.8 850.9 826.2 929.3 1030.6 1095.1 1132.6 1154.7 12

13 Agency- and GSE-backed securities 875.2 1012.9 1263.6 1582.4 1406.9 1167.2 1155.7 1194.5 1176.9 1166.5 1173.3 13

14 Official 372.6 487.2 695.2 954.3 940.5 761.4 752.2 780.2 712.2 677.1 696.6 14

15 Private 502.6 525.7 568.4 628.0 466.4 405.9 403.5 414.3 464.7 489.4 476.7 15

16 Municipal securities 26.0 29.0 34.4 45.1 50.5 57.0 61.0 65.0 69.0 73.0 75.2 16

17 U.S. corporate bonds (1) 1558.9 1762.9 2320.5 2719.1 2354.0 2489.3 2458.8 2435.9 2448.9 2446.7 2445.2 17

18 Loans to U.S. corporate business 131.2 162.5 168.8 271.5 207.3 182.4 185.6 197.3 163.1 161.1 162.9 18

19 U.S. corporate equities 1904.6 2039.1 2448.1 2812.2 1806.7 2427.9 2589.4 2412.2 2728.9 3071.3 3286.0 19

20 Mutual fund shares 195.8 242.0 316.8 373.5 256.2 321.7 337.1 312.5 342.0 366.6 385.3 20

21 Trade receivables 49.0 56.9 62.8 83.6 89.9 95.0 106.4 114.0 111.5 116.7 116.7 21

22 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Miscellaneous assets 2985.6 3177.5 3977.7 4544.5 4154.1 4359.8 4351.6 4662.9 4545.5 4254.7 4120.7 23

24 Foreign direct investment in U.S. (2) 1742.7 1906.0 2154.1 2410.5 2521.4 2672.8 2722.4 2742.9 2814.4 2867.3 2919.9 24

25 Other 1242.8 1271.5 1823.7 2134.0 1632.8 1687.0 1629.2 1920.0 1731.1 1387.4 1200.8 25

26 Total liabilities 5611.4 6088.3 7234.2 8482.4 8379.3 8689.2 8851.1 9549.6 9254.1 9138.6 9527.9 26

27 U.S. official reserve assets (3) 75.8 54.1 54.9 59.5 66.6 119.7 116.5 113.5 122.1 121.4 128.3 27

28 U.S. private deposits 957.0 997.8 1085.0 1342.0 939.9 768.3 777.3 818.7 830.9 853.1 864.3 28

29 Credit market instruments 1438.8 1513.9 1882.6 2126.3 1708.8 2013.6 2035.9 2028.0 2068.5 2115.4 2166.9 29

30 Commercial paper 345.3 384.0 482.3 413.0 342.0 401.3 387.5 378.3 378.0 396.0 421.5 30

31 Bonds 985.0 1011.6 1275.5 1587.1 1237.3 1493.6 1528.9 1527.1 1560.9 1582.1 1596.0 31

32 Bank loans n.e.c. 69.9 84.4 98.3 102.8 107.9 96.8 97.2 100.6 107.7 115.1 127.1 32

33 Official 5.5 2.6 1.9 1.9 2.6 3.2 3.0 3.3 3.5 4.3 4.2 33

34 Banks 13.4 18.1 21.9 30.2 33.0 27.9 30.4 33.1 34.1 39.7 45.7 34

35 Other 51.0 63.7 74.4 70.8 72.4 65.8 63.8 64.3 70.0 71.2 77.1 35

36 U.S. government loans 38.3 33.7 26.4 23.1 21.6 21.9 22.2 22.0 22.0 22.2 22.3 36

37 Acceptance liabilities to banks 0.3 0.2 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 Trade payables 48.2 54.5 60.7 73.1 63.2 61.2 76.6 81.9 89.3 95.4 92.2 38

39 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 Miscellaneous liabilities 3091.6 3468.1 4151.0 4881.5 5600.8 5726.4 5844.9 6507.5 6143.4 5953.3 6276.2 40

41 U.S. equity in IBRD, etc. 42.0 43.2 45.3 46.9 48.3 50.0 50.4 51.8 52.1 52.3 52.1 41

42 Nonofficial foreign currencies 2.8 0.6 0.6 24.5 554.2 10.9 0.7 2.1 0.9 0.8 0.8 42

43 U.S. direct investment abroad (1,2) 2498.5 2651.7 2948.2 3552.9 3742.8 4051.2 4157.8 4239.9 4326.4 4396.8 4470.5 43

44 Other 548.4 772.6 1157.1 1257.3 1255.4 1614.3 1636.0 2213.8 1764.0 1503.3 1752.8 44

 Memo:

45 Market value of foreign equities 2560.4 3317.7 4329.0 5248.0 2748.4 3977.4 4026.4 3507.5 4078.0 4399.1 4581.3 45

 held by U.S. residents (4)

(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) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
70 Z.1, June 9, 2011

L.108 Monetary Authority (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 841.3 878.7 908.2 951.3 2270.6 2267.2 2338.7 2363.4 2327.7 2453.2 2656.8 1

 2 U.S. official reserve assets 32.3 29.9 31.4 34.2 35.7 36.2 35.4 34.7 36.8 37.0 37.2 2

 3 SDR certificates 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 Treasury currency 36.4 36.5 38.2 38.7 38.7 42.7 42.7 43.2 43.4 43.5 43.8 4

 5 Federal Reserve float 0.9 0.9 -0.3 -0.0 -1.5 -2.1 -1.6 -1.9 -1.6 -1.4 -1.4 5

 6 Federal Reserve loans to domestic banks 0.0 0.1 0.1 48.6 559.7 96.6 11.5 0.7 0.3 0.2 0.1 6

 7 Discount window (2) 0.0 0.1 0.1 48.6 544.0 96.6 11.5 0.7 0.3 0.2 0.1 7

 8 AMLF (3) 0.0 0.0 0.0 0.0 15.7 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security RPs 33.0 46.8 40.8 46.5 80.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Credit market instruments 717.8 744.2 778.9 740.6 986.0 1987.7 2151.8 2187.3 2150.3 2259.2 2479.2 10

11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Treasury securities 717.8 744.2 778.9 740.6 475.9 776.6 776.7 777.0 811.7 1021.5 1340.4 12

13 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 19.7 1068.3 1237.7 1282.9 1232.6 1139.6 1069.7 13

14 Bank loans n.e.c. 0.0 0.0 0.0 0.0 490.4 142.8 137.4 127.5 106.0 98.1 69.1 14

15 Households (TALF) (4) 0.0 0.0 0.0 0.0 0.0 47.5 47.2 42.5 29.7 24.7 19.2 15

16 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Brokers and dealers (5) 0.0 0.0 0.0 0.0 45.5 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Funding corporations (Maiden Lane) (6) 0.0 0.0 0.0 0.0 29.1 29.2 29.3 29.3 28.2 25.8 24.1 18

19 Funding corporations (AIG) 0.0 0.0 0.0 0.0 38.9 22.2 25.4 24.7 18.9 20.0 0.0 19

20 Funding corporations (Maiden Lane II) (7) 0.0 0.0 0.0 0.0 19.5 16.0 15.3 14.7 14.1 13.5 12.8 20

21 Funding corporations (Maiden Lane III)(8) 0.0 0.0 0.0 0.0 24.4 18.5 17.3 16.3 15.1 14.1 12.9 21

22 Funding corporations (CPFF) (9) 0.0 0.0 0.0 0.0 333.0 9.4 2.9 0.0 0.0 0.0 0.0 22

23 Corporate equities (10) 0.0 0.0 0.0 0.0 0.0 25.1 25.4 25.7 26.1 26.4 0.0 23

24 Miscellaneous assets 18.6 18.1 17.0 40.5 569.8 75.9 68.2 68.6 67.2 83.1 92.8 24

25 Nonofficial foreign currencies (11) 0.0 0.0 0.0 24.0 553.7 10.3 0.0 1.2 0.1 0.1 0.0 25

26 Other 18.6 18.1 17.0 16.5 16.1 65.6 68.2 67.3 67.1 83.0 92.8 26

27 Total liabilities 829.6 865.7 892.9 932.8 2249.6 2241.6 2312.7 2333.9 2297.4 2426.7 2630.5 27

28 Depository institution reserves 24.0 19.0 18.7 20.8 860.0 977.0 1053.9 973.5 934.6 968.1 1407.0 28

29 Vault cash of commercial banks 41.5 50.1 51.7 55.0 57.7 54.9 51.8 53.8 50.5 52.7 53.4 29

30 Checkable deposits and currency 720.8 750.8 774.3 792.1 1220.3 1102.7 1120.5 1207.8 1218.8 1287.8 1078.6 30

31 Due to federal government 6.2 4.8 5.0 16.4 365.7 191.9 216.7 287.8 308.1 340.9 116.4 31

32 Treasury cash holdings 0.3 0.2 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 32

33 Treasury general deposit account 5.9 4.6 4.7 16.1 106.1 186.6 91.5 87.6 107.9 140.8 111.2 33

34 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 259.3 5.0 125.0 200.0 200.0 200.0 5.0 34

35 Due to rest of the world 0.1 0.1 0.1 0.1 1.4 2.4 1.7 1.2 2.5 3.4 0.1 35

36 Due to government-sponsored enterprises 1.1 2.0 0.8 1.7 21.1 35.1 19.3 27.4 4.0 13.5 10.2 36

37 Currency outside banks 713.3 743.9 768.5 773.9 832.2 873.3 882.8 891.3 904.2 930.0 951.9 37

38 Security RPs 30.8 30.5 29.6 44.0 88.4 77.7 57.8 67.2 63.8 59.7 62.2 38

39 Miscellaneous liabilities 12.5 15.3 18.5 21.0 23.1 29.2 28.7 31.6 29.7 58.4 29.3 39

40 Federal Reserve Bank stock 11.9 13.5 15.3 18.5 21.1 25.6 26.3 26.6 26.7 26.5 26.3 40

41 Other 0.6 1.8 3.2 2.5 2.1 3.6 2.5 5.0 3.0 31.9 3.0 41

(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.

(2) Loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(3) Loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(4) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(5) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the AMLF.

(6) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(7) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(8) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(9) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(10) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(11) Reciprocal currency arrangements (swap lines) with foreign central banks.
Z.1, June 9, 2011 71

L.109 Commercial Banking (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 9057.8 9843.7 10886.1 11879.0 14056.3 14288.2 14510.7 14486.6 14641.0 14336.1 14739.7 1

 2 Vault cash 41.5 50.1 51.7 55.0 57.7 54.9 51.8 53.8 50.5 52.7 53.4 2

 3 Reserves at Federal Reserve 20.8 16.3 16.7 18.2 816.3 908.7 963.6 896.9 853.0 886.4 1295.7 3

 4 Checkable deposits and currency 3.5 3.0 2.9 2.6 3.2 4.2 3.9 5.4 5.3 3.3 4.1 4

 5 Total bank credit 6851.5 7546.6 8402.4 9187.1 9672.8 9312.9 9555.9 9413.2 9629.0 9512.8 9393.6 5

 6 Open market paper 0.0 0.0 0.0 0.0 15.7 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 107.8 97.0 94.9 112.3 93.2 185.4 251.3 246.2 311.9 298.5 301.8 7

 8 Agency- and GSE-backed securities 1095.1 1089.6 1135.6 1022.3 1169.4 1298.2 1289.0 1279.2 1330.5 1369.5 1372.0 8

 9 Municipal securities 140.8 157.7 180.2 192.9 216.7 218.6 219.3 220.4 229.1 246.1 251.8 9

10 Corporate and foreign bonds 563.6 687.0 780.3 978.2 979.9 861.8 795.9 769.5 904.1 747.2 726.8 10

11 Bank loans n.e.c. 1410.1 1577.9 1705.2 2027.3 2230.6 1778.9 1779.6 1753.8 1749.7 1776.0 1803.3 11

12 Mortgages 2595.6 2958.0 3403.1 3644.4 3841.4 3818.7 3761.3 3706.8 3674.4 3651.2 3550.8 12

13 Consumer credit 704.3 707.0 741.2 804.1 878.6 855.3 1149.2 1133.7 1115.2 1098.7 1058.9 13

14 Security credit 195.8 230.7 302.2 334.5 221.0 219.6 232.4 243.1 243.2 242.3 239.0 14

15 Corporate equities 20.3 24.1 35.3 41.5 6.7 30.3 34.7 21.8 29.5 38.2 42.1 15

16 Mutual fund shares 18.1 17.4 24.5 29.6 19.6 46.1 43.2 38.7 41.2 45.0 47.1 16

17 Customers’ liab. on acceptances (2) 4.0 4.0 0.4 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Miscellaneous assets 2136.4 2223.7 2411.9 2615.6 3506.3 4007.4 3935.6 4117.3 4103.2 3880.8 3993.0 18

19 Total liabilities 8096.8 8685.2 9533.1 10473.0 12534.3 12651.2 12836.3 12867.4 13059.0 12757.5 13181.5 19

20 Net interbank liabilities 144.2 128.3 115.7 12.8 972.8 250.7 96.6 120.8 53.7 80.0 307.1 20

21 To monetary authority 1.0 1.0 -0.3 48.6 558.2 94.5 9.9 -1.3 -1.3 -1.2 -1.3 21

22 To domestic banks (3) 24.9 21.3 19.3 21.1 51.7 86.1 58.9 74.0 69.4 61.8 76.1 22

23 To foreign banks 118.3 106.0 96.7 -56.9 362.9 70.1 27.8 48.1 -14.5 19.4 232.4 23

24 Checkable deposits 646.7 610.3 574.4 587.7 729.1 814.0 768.0 787.9 785.5 890.6 925.8 24

25 Federal government 26.9 33.9 28.0 42.9 3.5 3.8 4.1 3.2 3.6 3.6 3.6 25

26 Rest of the world 13.2 19.7 28.8 34.1 67.6 44.6 45.5 47.0 43.5 44.4 55.3 26

27 Private domestic 606.6 556.8 517.6 510.7 658.0 765.7 718.3 737.7 738.5 842.6 866.8 27

28 Small time and savings deposits 3258.7 3527.1 3814.7 4077.7 4619.1 5003.5 5110.9 5099.1 5198.6 5280.9 5365.2 28

29 Large time deposits 1120.6 1363.7 1627.7 1925.3 1827.7 1824.8 1718.9 1626.7 1656.2 1619.9 1619.1 29

30 Federal funds and security RPs (net) 727.4 817.7 888.2 838.5 482.8 746.6 811.2 760.7 703.0 583.2 559.9 30

31 Credit market instruments 738.7 823.9 1001.5 1262.8 1425.3 1665.6 1977.5 1922.8 1928.8 1852.1 1831.5 31

32 Open market paper 57.2 61.2 82.2 117.2 77.7 60.8 206.5 199.5 193.6 177.6 182.8 32

33 Corporate bonds 437.4 494.1 570.8 690.3 821.3 1202.8 1414.0 1395.6 1446.1 1396.6 1392.3 33

34 Other loans and advances 244.1 268.5 348.5 455.2 526.3 402.0 357.0 327.6 289.0 277.9 256.4 34

35 Taxes payable (net) 33.6 25.8 24.7 11.1 -74.6 -67.5 -73.6 -64.6 -64.8 -60.6 -56.4 35

36 Miscellaneous liabilities 1426.8 1388.5 1486.2 1757.2 2552.1 2413.6 2426.9 2614.0 2798.1 2511.4 2629.3 36

 Memo:

37 Credit market funds advanced (4) 6621.2 7278.4 8040.9 8782.1 9425.5 9016.9 9245.6 9109.6 9315.0 9187.2 9065.4 37

38 Consumer leases not included above (5) 0.0 0.0 0.0 11.2 9.5 6.9 7.5 6.4 6.1 6.2 6.1 38

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

 same as branches in foreign countries.

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

(3) Floats and discrepancies in interbank transactions.

(4) Total bank credit (line 5) less security credit (line 14) less corporate equities (line 15) less mutual fund shares (line 16) plus customers’ liability on acceptances (line 17).

(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 nonfinancial asset.
72 Z.1, June 9, 2011

L.110 U.S.-Chartered Commercial Banks

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 6865.1 7392.5 8189.5 8840.8 10247.7 10044.6 10255.7 10152.4 10088.2 10076.5 10094.6 1

 2 Vault cash and reserves at Federal Reserve 61.6 65.5 67.8 72.2 635.1 679.5 684.0 651.6 588.5 588.4 708.2 2

 3 Total bank credit 6118.0 6621.3 7320.5 7883.7 8382.9 8304.8 8547.8 8434.4 8464.3 8502.7 8368.9 3

 4 Open market paper 0.0 0.0 0.0 0.0 15.7 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 74.2 64.2 61.9 73.0 53.4 117.7 181.6 181.2 220.2 211.6 210.0 5

 6 Agency- and GSE-backed securities 996.1 992.7 1040.3 928.9 1068.7 1221.3 1216.6 1210.5 1257.2 1308.3 1313.3 6

 7 Residential mortgage pass-through securities 581.7 579.0 647.8 592.8 744.9 744.3 707.2 670.8 700.6 729.6 739.3 7

 8 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.9 0.9 0.8 0.8 0.8 3.7 8

 9 Residential CMOs and other structured MBS 156.7 152.3 147.2 142.8 157.1 217.0 261.7 285.8 312.2 334.3 355.0 9

10 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 3.5 3.0 2.9 3.0 3.1 4.7 10

11 Other 257.7 261.5 245.3 193.3 166.7 255.7 243.8 250.2 240.6 240.5 210.6 11

12 Municipal securities 140.4 157.2 178.9 190.9 214.1 215.1 216.2 218.4 226.4 243.5 249.0 12

13 Corporate and foreign bonds 364.6 411.6 470.7 572.4 542.0 583.9 524.2 499.1 498.8 474.4 459.6 13

14 Priv. residential mortgage pass-through securities 18.9 23.9 32.7 48.2 23.8 13.8 11.8 5.0 4.7 4.4 11.0 14

15 Priv. commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 19.0 18.1 11.7 10.9 10.7 9.1 15

16 Priv. residential CMOs and other structured MBS 108.0 146.2 158.8 223.7 222.2 170.5 140.7 128.1 117.4 106.0 98.9 16

17 Priv. commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 23.8 23.3 22.5 22.4 22.3 20.0 17

18 Other 237.7 241.5 279.1 300.5 296.0 356.8 330.4 331.9 343.4 330.9 320.6 18

19 Bank loans n.e.c. 1150.5 1249.3 1312.2 1532.9 1670.8 1338.4 1340.2 1332.3 1328.6 1350.7 1354.7 19

20 Mortgages 2547.3 2902.1 3338.9 3564.6 3754.7 3738.6 3681.9 3634.1 3603.0 3580.1 3482.2 20

21 Consumer credit 704.3 707.0 741.2 804.1 878.6 855.3 1149.2 1133.7 1115.2 1098.7 1058.9 21

22 Security credit 102.2 95.6 116.5 145.9 158.6 158.0 160.0 164.5 144.1 152.3 152.1 22

23 Corporate equities 20.3 24.1 35.3 41.5 6.7 30.3 34.7 21.8 29.5 38.2 42.0 23

24 Mutual fund shares 18.1 17.4 24.5 29.6 19.6 46.1 43.2 38.7 41.2 45.0 47.1 24

25 Customers’ liab. on acceptances (1) 3.3 3.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Miscellaneous assets 682.2 702.5 801.2 884.8 1229.7 1060.3 1024.0 1066.4 1035.4 985.4 1017.5 26

27 Total liabilities 6660.8 7119.5 7822.1 8434.3 9818.3 9787.5 9957.2 9955.8 9964.1 9891.4 9960.9 27

28 Net interbank liabilities 271.9 288.5 363.0 502.0 1291.0 673.1 449.7 451.4 431.7 429.9 432.0 28

29 Federal Reserve float 0.9 0.9 -0.3 -0.0 -1.5 -2.1 -1.6 -1.9 -1.6 -1.4 -1.4 29

30 Borrowing from Federal Reserve banks 0.0 0.1 0.1 48.6 559.7 96.6 11.5 0.7 0.3 0.2 0.1 30

31 To domestic banks -22.8 -22.3 -57.1 -24.9 88.5 27.4 -26.4 -1.5 -29.4 -39.2 -14.1 31

32 To foreign banks 293.8 309.9 420.3 478.3 644.4 551.2 466.2 454.2 462.4 470.2 447.4 32

33 Checkable deposits 624.5 587.7 551.2 560.2 700.9 781.9 735.4 754.7 750.1 852.2 887.9 33

34 Federal government 26.9 33.9 28.0 42.9 3.5 3.8 4.1 3.2 3.6 3.6 3.6 34

35 Rest of the world 11.2 17.4 26.8 31.7 62.9 34.1 34.7 36.5 31.5 29.8 42.1 35

36 Private domestic 586.4 536.5 496.4 485.5 634.6 744.0 696.6 715.0 715.0 818.7 842.1 36

37 Small time and savings deposits 3230.2 3493.1 3770.9 4025.9 4566.2 4949.1 5056.5 5047.9 5128.1 5225.9 5303.2 37

38 Large time deposits 671.3 838.1 968.0 991.1 1015.6 841.7 789.9 770.5 749.9 691.6 663.2 38

39 Federal funds and security RPs (net) 569.1 626.1 647.5 611.4 352.4 624.0 667.3 603.7 538.6 409.5 393.0 39

40 Open market paper 3.4 3.3 0.0 0.0 0.0 0.0 132.5 135.8 129.2 112.9 109.2 40

41 Corporate bonds 109.3 121.7 149.2 174.4 182.4 174.1 417.3 418.3 418.4 414.4 407.9 41

42 Other loans and advances 244.1 268.5 348.5 455.2 526.3 402.0 357.0 327.6 289.0 277.9 256.4 42

43 Taxes payable (net) 33.6 25.8 24.7 11.1 -74.6 -67.5 -73.6 -64.6 -64.8 -60.6 -56.4 43

44 Miscellaneous liabilities 903.4 866.6 999.2 1103.1 1258.1 1409.2 1425.2 1510.5 1593.8 1537.9 1564.5 44

45 Investment by bank holding companies 857.0 897.0 1067.0 1197.8 1244.4 1413.5 1408.5 1431.6 1452.4 1366.8 1389.1 45

46 Other 46.4 -30.4 -67.8 -94.7 13.6 -4.4 16.7 78.9 141.4 171.1 175.4 46

 Memo:

47 Credit market funds advanced (2) 5980.7 6487.4 7144.1 7666.8 8197.9 8070.3 8309.9 8209.4 8249.5 8267.3 8127.7 47

48 Consumer leases not included above (3) 0.0 0.0 0.0 11.2 9.5 6.9 7.5 6.4 6.1 6.2 6.1 48

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

(2) Total bank credit (line 3) less security credit (line 18) less corporate equities (line 19) less mutual fund shares (line 20) plus customers’ liability on acceptances (line 21).

(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 nonfinancial asset.
Z.1, June 9, 2011 73

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

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 664.1 818.1 828.2 1048.0 1624.8 1267.8 1307.0 1368.4 1493.7 1337.5 1672.0 1

 2 Reserves at Federal Reserve 0.7 0.9 0.6 1.0 239.0 284.1 331.4 299.1 315.0 350.8 640.8 2

 3 Total bank credit 606.3 792.1 946.8 1151.4 1126.0 844.2 845.2 843.6 987.3 843.2 851.4 3

 4 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 27.7 27.8 26.8 30.4 35.5 61.4 63.1 58.7 73.4 66.2 74.6 5

 6 Agency- and GSE-backed securities 51.8 50.9 55.1 57.1 50.5 32.1 31.4 30.4 30.2 27.3 29.5 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 182.2 262.8 292.5 369.5 401.6 244.9 236.6 252.4 362.5 233.9 220.8 8

 9 Bank loans n.e.c. 234.0 294.7 361.8 466.8 531.9 406.5 403.9 387.3 386.7 390.4 405.7 9

10 Mortgages 16.9 20.8 24.9 39.0 44.2 37.8 37.9 36.2 35.3 35.4 33.8 10

11 Security credit 93.7 135.1 185.6 188.6 62.3 61.6 72.3 78.6 99.2 90.1 86.9 11

12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 12

13 Customers’ liab. on acceptances (2) 0.7 0.8 0.4 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Miscellaneous assets 56.4 24.3 -119.6 -104.9 259.8 139.5 130.4 225.8 191.4 143.5 179.7 14

15 Total liabilities 680.3 834.8 844.6 1067.5 1639.6 1284.0 1322.8 1384.0 1511.1 1354.9 1692.8 15

16 Net interbank liabilities -135.7 -141.7 -213.0 -404.1 -163.7 -322.4 -257.5 -251.0 -305.4 -274.2 -51.9 16

17 To foreign banks -167.9 -176.7 -255.3 -424.6 -179.9 -356.1 -305.5 -307.2 -358.5 -315.2 -93.1 17

18 To domestic banks 32.2 35.0 42.2 20.5 16.2 33.7 48.0 56.3 53.1 41.0 41.2 18

19 Checkable deposits 8.7 9.3 9.3 11.8 13.5 16.1 16.4 16.4 18.5 21.9 20.7 19

20 Small time and savings deposits 9.5 10.0 18.6 25.5 25.6 29.9 30.2 31.6 50.8 35.7 42.6 20

21 Large time deposits 430.3 501.7 634.5 907.9 784.7 958.6 904.7 836.6 886.5 909.0 936.5 21

22 Federal funds and security RPs (net) 157.5 190.9 239.9 226.3 130.0 170.3 195.3 216.1 231.7 223.2 224.4 22

23 Acceptance liabilities 0.7 0.8 0.5 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Miscellaneous liabilities 209.2 263.8 154.8 299.6 849.4 431.5 433.7 534.3 629.1 439.3 520.4 24

25 Foreign direct investment in U.S. 122.7 130.2 135.4 107.2 92.6 111.9 115.5 118.5 121.3 116.8 116.2 25

26 Due to affiliates 167.7 188.8 197.3 241.0 276.6 203.1 189.2 150.4 177.1 171.6 190.5 26

27 Other -81.2 -55.1 -177.9 -48.7 480.2 116.5 129.0 265.4 330.7 150.9 213.7 27

 Memo:

28 Credit market funds advanced (3) 513.3 657.8 761.6 963.3 1063.7 782.7 772.8 765.0 888.1 753.1 764.5 28

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

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

(3) Total bank credit (line 3) less security credit (line 11) less corporate equities (line 12) plus customers’ liability on acceptances (line 13).
74 Z.1, June 9, 2011

L.112 Bank Holding Companies

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1429.0 1523.8 1760.4 1882.8 2078.7 2876.9 2852.8 2874.8 2972.4 2838.8 2890.6 1

 2 Credit market instruments 36.4 32.2 36.0 59.1 73.0 75.8 79.1 63.0 108.1 97.9 105.7 2

 3 Treasury securities 2.0 1.1 2.5 7.1 3.1 5.8 5.8 5.0 17.2 19.6 16.1 3

 4 Agency- and GSE-backed securities 13.5 11.2 11.2 9.9 25.8 24.3 22.6 22.1 30.1 21.1 22.2 4

 5 Corporate and foreign bonds 15.5 11.8 16.7 35.9 35.8 31.1 33.6 17.4 42.2 38.3 40.5 5

 6 Bank loans n.e.c. 5.3 8.1 5.6 6.3 8.2 14.6 17.1 18.5 18.6 18.9 26.9 6

 7 Miscellaneous assets 1392.6 1491.6 1724.4 1823.6 2005.7 2801.1 2773.8 2811.8 2864.3 2740.9 2784.9 7

 8 Investment in bank subsidiaries 857.0 897.0 1067.0 1197.8 1244.4 1413.5 1408.5 1431.6 1452.4 1366.8 1389.1 8

 9 Investment in nonbank subsidiaries 341.3 384.0 407.4 344.4 386.4 909.0 907.6 910.6 936.6 893.4 900.2 9

10 Other 194.4 210.6 250.0 281.4 374.8 478.5 457.7 469.6 475.2 480.6 495.6 10

11 Total liabilities 661.7 627.6 764.2 876.7 985.4 1489.8 1469.5 1445.4 1505.8 1436.0 1453.1 11

12 Net interbank liabilities 8.0 -18.5 -34.2 -85.1 -154.6 -100.0 -95.6 -79.7 -72.6 -75.7 -73.0 12

13 To domestic banks 15.5 8.6 34.2 25.5 -53.0 25.0 37.3 19.2 45.7 60.0 48.9 13

14 To foreign banks -7.5 -27.1 -68.4 -110.6 -101.5 -125.1 -132.9 -98.9 -118.3 -135.6 -121.9 14

15 Federal funds and security RPs (net) 0.8 0.6 0.8 0.8 0.4 -47.7 -51.4 -59.0 -67.3 -49.5 -57.6 15

16 Credit market instruments 381.3 429.5 503.3 632.7 716.6 1089.5 1070.7 1041.1 1092.2 1046.9 1058.0 16

17 Commercial paper 53.1 57.1 81.7 116.7 77.7 60.8 74.0 63.7 64.4 64.7 73.6 17

18 Corporate bonds 328.2 372.4 421.5 516.0 638.9 1028.7 996.7 977.3 1027.8 982.2 984.4 18

19 Miscellaneous liabilities 271.6 216.0 294.4 328.3 422.9 548.0 545.8 543.0 553.6 514.2 525.6 19

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

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

 1 Total financial assets 99.5 109.3 108.1 107.5 105.2 98.8 95.1 90.9 86.6 83.2 82.6 1

 2 Checkable deposits and currency 3.5 3.0 2.9 2.6 3.2 4.2 3.9 5.4 5.3 3.3 4.1 2

 3 Credit market instruments 90.8 101.0 99.3 92.8 90.9 88.1 83.8 72.2 69.3 68.9 67.6 3

 4 Treasury securities 3.8 3.9 3.7 1.8 1.2 0.5 0.9 1.3 1.1 1.1 1.1 4

 5 Agency- and GSE-backed securities 33.6 34.8 29.0 26.3 24.4 20.5 18.4 16.2 13.0 12.8 6.9 5

 6 Municipal securities 0.3 0.5 1.3 2.0 2.5 3.5 3.1 2.0 2.7 2.5 2.8 6

 7 Corporate and foreign bonds 1.3 0.8 0.4 0.5 0.5 2.0 1.4 0.5 0.5 0.6 5.9 7

 8 Bank loans n.e.c. 20.3 25.9 25.6 21.4 19.7 19.4 18.4 15.7 15.9 16.1 16.0 8

 9 Home mortgages 15.6 16.3 17.2 21.5 22.9 22.6 22.3 20.8 20.5 20.1 18.8 9

10 Commercial mortgages 15.9 18.8 22.0 19.3 19.7 19.6 19.3 15.7 15.6 15.7 16.1 10

11 Miscellaneous assets 5.2 5.3 5.9 12.1 11.1 6.5 7.5 13.3 12.1 11.0 10.9 11

12 Total liabilities 94.0 103.4 102.1 94.4 91.0 90.0 86.9 82.1 78.0 75.2 74.7 12

13 Checkable deposits 13.5 13.3 14.0 15.7 14.6 16.1 16.2 16.7 16.9 16.6 17.1 13

14 Small time and savings deposits 19.0 23.9 25.2 26.3 27.4 24.5 24.2 19.6 19.8 19.3 19.4 14

15 Large time deposits 19.0 23.9 25.2 26.3 27.4 24.5 24.2 19.6 19.8 19.3 19.4 15

16 Miscellaneous liabilities 42.5 42.2 37.7 26.2 21.7 25.0 22.2 26.1 21.6 20.0 18.8 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.
Z.1, June 9, 2011 75

L.114 Savings Institutions (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1649.6 1789.4 1714.8 1815.0 1523.5 1253.7 1262.2 1244.8 1244.3 1244.1 1250.2 1

 2 Reserves at Federal Reserve 3.3 2.7 2.0 2.6 39.0 45.5 55.3 49.9 46.4 44.8 56.6 2

 3 Checkable deposits and currency 21.3 23.7 20.4 20.0 8.7 4.5 0.8 5.2 7.7 2.2 3.5 3

 4 Time and savings deposits 3.2 2.7 6.6 9.9 8.3 15.3 19.1 18.2 17.7 15.3 21.1 4

 5 Federal funds and security RPs 9.1 9.0 18.3 45.6 34.7 12.0 9.5 7.8 7.0 5.4 4.5 5

 6 Credit market instruments 1417.7 1617.1 1533.2 1596.1 1320.0 1070.4 1073.0 1061.7 1067.2 1081.0 1065.0 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 8.4 12.3 12.5 7.0 3.0 6.8 7.1 6.7 6.0 5.9 6.0 8

 9 Agency- and GSE-backed securities 136.4 192.3 177.0 177.4 173.8 193.4 202.6 199.8 203.8 216.4 220.0 9

10 Residential mortgage pass-through securities 90.4 116.0 98.4 104.2 106.1 93.2 95.0 95.5 98.0 105.7 101.0 10

11 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 11

12 Residential CMOs and other structured MBS 23.4 30.7 32.8 31.3 36.9 47.0 50.9 47.2 52.1 59.2 64.5 12

13 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Other 22.7 45.5 45.9 41.8 30.8 53.2 56.7 56.9 53.6 51.5 54.2 14

15 Municipal securities 7.4 9.0 11.2 11.0 7.8 9.2 9.6 10.1 10.2 11.1 10.9 15

16 Corporate and foreign bonds 59.2 80.2 92.7 142.2 108.5 84.5 81.1 80.9 76.1 73.9 70.9 16

17 Priv. residential mortgage pass-through securities 8.2 7.7 11.0 6.5 5.2 2.5 2.6 2.5 2.2 2.1 1.9 17

18 Priv. commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.0 18

19 Priv. residential CMOs and other structured MBS 40.5 58.6 65.8 105.2 63.4 32.4 30.1 29.8 27.4 26.3 24.9 19

20 Priv. commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 20

21 Other 10.5 13.9 16.0 30.4 39.9 49.4 48.2 48.4 46.2 45.3 43.9 21

22 Other loans and advances 57.6 61.5 67.5 73.7 80.1 65.6 65.3 64.4 71.1 72.0 72.2 22

23 Mortgages 1057.4 1152.7 1076.8 1094.0 860.6 633.3 629.3 619.3 617.8 614.8 600.3 23

24 Consumer credit 91.3 109.1 95.5 90.8 86.3 77.5 78.0 80.6 82.1 86.8 84.7 24

25 Corporate equities 28.2 26.2 24.9 25.3 22.7 22.2 21.8 21.7 19.5 19.7 21.9 25

26 Miscellaneous assets 166.7 107.9 109.3 115.5 90.0 83.8 82.7 80.4 78.9 75.8 77.7 26

27 Total liabilities 1495.0 1619.2 1535.8 1649.2 1395.7 1124.4 1126.7 1107.0 1105.9 1105.4 1109.1 27

28 Deposits 990.2 1066.8 1091.4 1104.6 948.6 895.3 905.6 899.3 901.5 909.2 927.9 28

29 Checkable 81.2 85.0 85.9 79.4 76.6 89.7 90.1 89.2 88.4 88.9 90.5 29

30 Small time and savings 584.5 618.5 647.5 638.1 578.5 667.9 674.8 665.9 661.9 662.7 676.2 30

31 Large time 324.5 363.3 358.0 387.1 293.5 137.7 140.7 144.2 151.3 157.6 161.2 31

32 Security RPs 63.3 61.0 41.8 17.6 17.6 53.6 53.9 50.2 49.2 47.6 38.3 32

33 Credit market instruments 404.8 427.3 319.1 423.3 356.1 152.3 143.3 136.2 133.8 127.4 121.0 33

34 Corporate bonds 7.6 8.7 10.7 10.4 2.4 2.3 3.2 3.0 2.8 2.7 2.2 34

35 Bank loans n.e.c. 87.9 93.1 48.6 62.0 75.0 11.0 11.3 8.8 10.9 9.8 11.2 35

36 Other loans and advances 309.3 325.5 259.8 350.9 278.7 139.1 128.8 124.4 120.2 114.9 107.6 36

37 Taxes payable 3.6 3.6 3.3 1.3 1.0 1.3 1.6 1.1 1.0 1.0 1.5 37

38 Miscellaneous liabilities 33.2 60.5 80.2 102.4 72.3 21.8 22.4 20.3 20.5 20.2 20.4 38

39 Investment by parent 19.0 22.7 10.7 10.9 13.4 24.0 24.0 23.7 24.3 23.0 23.2 39

40 Other 14.3 37.8 69.5 91.5 58.9 -2.2 -1.6 -3.4 -3.8 -2.8 -2.8 40

(1) State-chartered savings banks, federal savings banks, cooperative banks, and savings and loan associations.
76 Z.1, June 9, 2011

L.115 Credit Unions

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 654.7 685.7 716.2 758.7 812.4 882.7 895.7 901.9 905.7 912.0 937.5 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 4.7 22.8 35.0 26.7 35.2 36.9 54.7 2

 3 Checkable deposits and currency 40.2 38.1 44.4 43.3 37.6 39.1 37.2 39.9 36.8 32.8 28.1 3

 4 Time and savings deposits 26.4 21.9 17.0 17.0 28.3 37.8 41.0 42.6 43.1 43.2 44.5 4

 5 Federal funds and security RPs (net) 4.1 6.7 5.1 2.5 -2.3 0.1 0.1 0.1 0.0 0.0 0.0 5

 6 Credit market instruments 556.4 592.6 622.7 657.9 697.9 731.0 737.3 750.2 741.1 744.3 756.9 6

 7 Open market paper 0.8 0.8 1.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 8.9 7.7 7.4 10.4 8.8 14.2 15.9 17.2 10.8 18.4 20.9 8

 9 Agency- and GSE-backed securities 93.1 86.4 72.5 68.4 82.9 110.8 123.5 133.6 136.3 145.6 161.9 9

10 Corporate and foreign bonds 25.0 23.5 30.6 34.6 25.7 18.6 18.5 18.4 11.5 0.0 0.0 10

11 Other loans and advances 24.9 25.9 26.8 26.9 29.6 32.3 31.3 32.5 33.2 33.1 32.2 11

12 Home mortgages 188.3 219.7 249.7 281.5 314.7 317.9 320.1 322.6 324.4 320.8 322.3 12

13 Consumer credit 215.4 228.6 234.5 235.7 236.2 237.2 228.0 225.8 224.9 226.5 219.7 13

14 Mutual fund shares 3.1 2.2 2.1 2.1 2.0 1.3 1.6 1.6 1.6 1.5 1.7 14

15 Miscellaneous assets 24.5 24.2 24.9 35.9 44.2 50.6 43.5 40.8 47.9 53.4 51.5 15

16 Total liabilities 595.2 622.7 648.7 688.2 742.7 815.3 827.2 832.0 834.8 840.9 865.0 16

17 Shares/deposits 574.5 596.1 620.6 652.3 697.4 769.4 790.4 795.0 797.2 803.8 827.7 17

18 Checkable 74.1 81.1 72.6 73.7 75.3 86.9 88.5 88.2 88.5 92.4 97.7 18

19 Small time and savings 440.4 452.5 483.0 508.7 551.7 655.1 673.7 678.4 679.3 681.3 698.8 19

20 Large time 60.0 62.5 65.0 69.9 70.4 27.3 28.2 28.4 29.4 30.1 31.3 20

21 Other loans and advances 11.4 14.7 18.9 32.3 40.6 26.5 25.4 25.0 25.2 26.1 23.7 21

22 Miscellaneous liabilities 9.3 11.9 9.2 3.6 4.7 19.4 11.4 12.0 12.4 11.0 13.6 22

L.116 Property-Casualty Insurance Companies

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

 1 Total financial assets 1159.1 1246.3 1335.8 1385.8 1309.4 1387.6 1388.7 1371.7 1397.5 1403.9 1427.4 1

 2 Checkable deposits and currency 25.9 21.0 29.9 42.7 27.9 27.6 28.3 37.1 39.3 32.6 33.8 2

 3 Money market fund shares 13.4 12.8 13.5 20.7 32.8 29.6 25.3 24.6 27.9 25.6 27.7 3

 4 Security RPs 2.0 2.7 1.9 3.6 4.4 4.5 8.3 6.1 5.9 3.8 3.5 4

 5 Credit market instruments 746.5 819.3 864.1 869.3 853.4 886.7 886.8 887.2 892.2 890.6 895.7 5

 6 Open market paper 12.3 15.8 16.4 13.3 19.1 9.8 11.1 10.4 11.8 7.9 8.5 6

 7 Treasury securities 106.6 106.9 110.0 71.3 65.6 88.5 87.1 87.7 90.4 91.7 93.3 7

 8 Agency- and GSE-backed securities 112.1 117.9 122.0 125.8 114.3 116.2 116.1 116.0 115.9 115.8 116.2 8

 9 Municipal securities 267.8 313.2 335.2 371.3 381.9 369.4 364.0 358.7 353.5 348.4 349.7 9

10 Corporate and foreign bonds 245.3 262.8 277.0 282.9 267.5 298.3 304.2 310.2 316.4 322.6 323.8 10

11 Commercial mortgages 2.4 2.7 3.5 4.8 5.0 4.4 4.3 4.2 4.2 4.1 4.1 11

12 Corporate equities 196.6 199.5 227.0 236.2 193.3 219.8 216.7 193.4 204.8 219.2 232.2 12

13 Mutual fund shares 5.2 5.7 6.9 6.8 4.4 5.3 5.4 5.0 5.4 5.7 5.8 13

14 Trade receivables 79.6 82.1 87.0 85.4 86.7 83.0 84.8 86.7 87.1 83.8 84.4 14

15 Miscellaneous assets 89.9 103.3 105.5 121.1 106.6 131.1 133.1 131.6 135.0 142.6 144.3 15

16 Total liabilities 710.9 759.0 826.3 821.3 802.5 814.5 817.1 818.3 827.2 840.0 842.0 16

17 Security RPs 1.2 1.3 1.2 0.5 2.4 0.6 0.5 0.6 0.5 1.5 0.6 17

18 Taxes payable (net) 1.5 -1.6 9.4 7.0 -21.1 -15.8 -12.6 -19.1 -15.7 -10.1 -7.9 18

19 Miscellaneous liabilities 708.3 759.3 815.7 813.8 821.2 829.7 829.3 836.7 842.4 848.7 849.3 19
Z.1, June 9, 2011 77

L.117 Life Insurance Companies

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 4130.3 4350.7 4685.3 4949.7 4515.5 4823.9 4914.0 4872.1 5048.1 5176.3 5276.4 1

 2 Checkable deposits and currency 53.3 47.7 56.1 58.3 82.8 50.7 47.7 57.8 59.5 51.7 47.3 2

 3 Money market fund shares 17.2 13.5 23.3 21.6 39.2 33.7 29.8 26.5 23.6 21.0 23.8 3

 4 Security RPs 3.6 2.6 2.6 2.7 8.0 10.2 11.3 11.0 11.0 10.9 10.5 4

 5 Credit market instruments 2643.9 2753.9 2786.4 2871.2 2882.8 3022.6 3042.7 3083.9 3134.4 3174.2 3210.8 5

 6 Open market paper 27.4 24.4 28.7 41.7 38.3 49.8 35.7 39.3 46.0 40.9 33.5 6

 7 Treasury securities 81.9 95.4 87.9 70.6 105.7 133.5 137.6 142.1 146.9 152.0 155.5 7

 8 Agency- and GSE-backed securities 357.1 368.5 377.4 382.9 366.2 371.9 373.8 375.8 377.9 380.2 386.1 8

 9 Municipal securities 30.1 32.5 36.6 41.4 47.1 73.1 81.6 91.0 101.5 113.3 115.1 9

10 Corporate and foreign bonds 1756.3 1824.8 1819.5 1862.6 1817.0 1914.7 1949.8 1975.0 2000.9 2027.1 2058.4 10

11 Other loans and advances 117.8 122.8 132.6 145.8 166.1 153.5 142.9 142.7 143.0 143.2 143.9 11

12 Mortgages 273.3 285.5 303.8 326.2 342.4 326.1 321.4 317.9 318.2 317.5 318.4 12

13 Corporate equities 1053.9 1161.8 1364.8 1464.6 1001.7 1208.5 1275.8 1169.4 1286.6 1402.6 1494.6 13

14 Mutual fund shares 114.4 109.0 148.8 188.4 121.0 140.8 144.8 134.3 144.1 155.7 158.7 14

15 Miscellaneous assets 243.9 262.1 303.3 342.9 380.1 357.6 361.8 389.3 388.9 360.3 330.8 15

16 Total liabilities 3869.7 4088.4 4412.0 4661.7 4266.5 4532.5 4611.0 4567.5 4723.5 4850.8 4957.6 16

17 Security RPs 13.5 20.9 21.2 20.2 12.9 12.4 9.2 9.8 11.0 10.3 9.5 17

18 Other loans and advances 11.1 11.5 14.2 28.7 54.9 48.3 45.6 45.6 45.3 45.1 45.5 18

19 Life insurance reserves 1018.8 1039.9 1119.5 1156.1 1133.4 1194.5 1202.1 1188.1 1214.1 1229.9 1249.3 19

20 Pension fund reserves (1) 2027.9 2197.4 2332.4 2450.8 2184.6 2323.0 2371.5 2305.3 2406.1 2504.7 2566.0 20

21 Taxes payable (net) -2.7 -5.3 -1.3 -4.7 -24.4 -31.4 -30.0 -30.6 -27.7 -28.8 -27.9 21

22 Miscellaneous liabilities 801.2 824.0 925.9 1010.6 905.0 985.6 1012.6 1049.3 1074.7 1089.8 1115.1 22

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 22).

L.118 Private Pension Funds (1)

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

 1 Total financial assets 4922.4 5388.6 6082.8 6410.6 4552.7 5471.0 5708.6 5315.9 5728.5 6111.8 6272.4 1

 2 Checkable deposits and currency 10.5 10.8 11.2 11.8 12.3 16.4 18.9 21.9 24.6 28.0 31.3 2

 3 Time and savings deposits 55.9 62.2 63.1 67.7 67.9 72.7 73.7 74.9 75.7 77.1 78.0 3

 4 Money market fund shares 84.9 86.7 90.1 93.5 95.7 96.4 96.4 96.4 96.3 96.3 96.2 4

 5 Security RPs 20.6 21.6 22.4 25.8 33.1 36.2 36.3 31.3 36.8 37.1 37.3 5

 6 Credit market instruments 654.6 699.9 758.3 860.8 951.4 1063.0 1090.0 1114.3 1138.7 1171.0 1204.3 6

 7 Open market paper 28.5 31.5 31.7 26.9 37.2 26.7 21.7 18.2 17.1 15.0 14.8 7

 8 Treasury securities 113.0 116.5 130.8 169.5 184.9 310.7 341.6 407.4 466.9 486.7 504.7 8

 9 Agency- and GSE-backed securities 235.3 252.0 268.6 296.8 318.1 269.1 259.6 210.9 170.2 170.9 172.8 9

10 Corporate and foreign bonds 267.8 290.0 317.6 357.4 400.1 442.9 452.5 462.1 469.2 483.5 497.3 10

11 Mortgages 10.0 9.8 9.5 10.2 11.1 13.6 14.6 15.7 15.2 15.0 14.7 11

12 Corporate equities 2338.5 2441.7 2724.8 2673.3 1599.7 1835.7 1918.2 1673.9 1832.6 2012.3 2101.0 12

13 Mutual fund shares 1278.2 1585.4 1880.4 2110.6 1366.0 1817.3 1929.6 1786.0 1982.2 2126.6 2153.5 13

14 Miscellaneous assets 479.2 480.2 532.5 567.1 426.5 533.3 545.5 517.2 541.5 563.5 570.8 14

15 Unallocated insurance contracts (2) 328.4 338.4 387.9 431.3 317.6 412.8 429.9 408.0 433.8 457.5 471.3 15

16 Contributions receivable 46.6 44.8 42.8 47.2 47.9 50.5 49.9 49.6 49.4 49.2 49.1 16

17 Other 104.1 97.0 101.8 88.6 61.0 70.0 65.7 59.6 58.4 56.8 50.4 17

18 Pension fund reserves (liabilities) (3) 4963.0 5427.8 6120.5 6444.8 4588.0 5507.4 5745.0 5352.4 5765.0 6148.3 6308.9 18

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

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

(3) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.
78 Z.1, June 9, 2011

L.119 State and Local Government Employee Retirement Funds

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2577.5 2721.4 3089.8 3198.8 2324.5 2673.7 2771.7 2554.4 2726.8 2931.5 3034.2 1

 2 Checkable deposits and currency 16.3 15.8 13.1 17.9 17.8 17.7 17.8 17.5 17.2 17.3 18.1 2

 3 Time and savings deposits 1.4 1.3 0.8 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 3

 4 Money market fund shares 11.6 11.7 13.8 12.4 14.3 14.3 14.4 14.2 13.9 13.9 14.7 4

 5 Security RPs 20.2 19.7 24.1 21.7 23.5 23.5 23.6 23.2 22.8 22.8 24.0 5

 6 Credit market instruments 675.3 693.4 808.0 820.3 833.5 824.7 823.7 819.3 815.8 816.5 825.0 6

 7 Open market paper 35.2 35.2 42.8 38.4 25.9 24.0 24.1 22.7 22.3 22.4 23.5 7

 8 Treasury securities 151.0 153.8 156.2 141.6 146.4 174.5 179.1 182.0 185.5 185.6 187.9 8

 9 Agency- and GSE-backed securities 258.8 258.4 307.8 331.1 337.5 306.9 301.0 292.3 285.1 285.2 288.7 9

10 Municipal securities 1.8 1.7 3.3 2.4 1.4 1.5 1.5 1.5 1.6 1.6 1.6 10

11 Corporate and foreign bonds 213.5 227.9 283.4 297.0 312.9 308.6 308.7 311.5 311.9 312.4 314.1 11

12 Mortgages 15.1 16.4 14.4 9.7 9.4 9.3 9.4 9.3 9.4 9.4 9.2 12

13 Corporate equities 1600.9 1715.8 1926.1 2013.7 1237.9 1549.8 1636.0 1450.8 1604.6 1782.5 1861.9 13

14 Mutual fund shares 235.9 248.4 287.5 296.4 181.1 226.7 239.3 212.2 234.8 260.8 272.4 14

15 Miscellaneous assets 15.9 15.4 16.3 15.7 15.7 16.2 16.3 16.5 16.9 17.0 17.3 15

16 Pension fund reserves (liabilities) (1) 2621.3 2763.4 3156.6 3297.9 2414.7 2759.8 2856.7 2641.4 2815.4 3024.0 3131.3 16

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

L.120 Federal Government Retirement Funds (1)

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

 1 Total financial assets 1023.3 1071.5 1141.1 1197.2 1221.2 1324.4 1317.7 1311.0 1335.6 1415.4 1413.1 1

 2 Credit market instruments 68.2 76.0 84.3 96.1 120.3 127.7 129.4 133.6 138.3 138.7 142.2 2

 3 Treasury securities 60.7 68.4 76.7 88.0 112.3 119.1 120.6 124.5 128.2 129.2 133.0 3

 4 Agency- and GSE-backed securities 4.6 4.6 4.7 5.0 5.1 5.6 5.8 6.0 6.6 6.3 6.2 4

 5 Corporate and foreign bonds 3.0 2.9 2.9 3.0 2.9 3.0 3.0 3.1 3.5 3.2 3.1 5

 6 Corporate equities 99.2 112.6 138.1 149.1 85.6 119.4 127.8 112.6 115.8 133.8 142.2 6

 7 Miscellaneous assets (2) 855.9 882.9 918.7 952.0 1015.3 1077.2 1060.6 1064.8 1081.5 1142.9 1128.8 7

 8 Pension fund reserves (liabilities) (3) 1023.3 1071.5 1141.1 1197.2 1221.2 1324.4 1317.7 1311.0 1335.6 1415.4 1413.1 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.
Z.1, June 9, 2011 79

L.121 Money Market Mutual Funds (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1879.8 2006.9 2312.1 3033.1 3757.3 3258.3 2930.7 2760.4 2746.1 2755.3 2679.4 1

 2 Foreign deposits 78.5 94.7 84.1 127.3 129.3 97.1 92.5 92.5 103.9 105.9 107.5 2

 3 Checkable deposits and currency 0.6 -0.9 6.7 1.9 7.5 17.9 5.3 7.5 15.3 14.2 14.0 3

 4 Time and savings deposits 167.2 183.0 206.7 270.6 355.2 573.2 510.8 432.3 470.0 468.0 469.9 4

 5 Security RPs 234.0 346.0 394.6 605.9 542.4 479.9 438.9 462.5 492.9 479.4 439.2 5

 6 Credit market instruments 1346.3 1340.8 1560.8 1936.4 2675.0 2031.0 1828.5 1706.8 1603.1 1621.0 1583.7 6

 7 Open market paper 405.8 492.2 608.3 674.6 618.5 510.5 445.6 385.9 386.4 394.2 398.1 7

 8 Treasury securities 98.2 88.6 82.7 178.1 577.7 406.4 371.5 351.2 310.3 335.4 337.7 8

 9 Agency- and GSE-backed securities 267.5 160.1 131.4 235.9 756.2 543.0 465.5 450.3 415.3 402.8 373.4 9

10 Municipal securities 313.8 336.8 370.3 471.0 494.6 401.3 370.0 350.8 331.6 334.4 320.7 10

11 Corporate and foreign bonds 261.0 263.2 368.3 376.8 228.0 169.9 176.0 168.6 159.5 154.2 153.7 11

12 Miscellaneous assets 53.3 43.3 59.2 90.9 47.9 59.1 54.8 58.8 60.9 66.9 65.2 12

13 Total shares outstanding (liabilities) 1879.8 2006.9 2312.1 3033.1 3757.3 3258.3 2930.7 2760.4 2746.1 2755.3 2679.4 13

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

L.122 Mutual Funds (1)

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

 1 Total financial assets 5436.3 6048.9 7068.3 7829.0 5435.3 6961.6 7295.0 6764.2 7401.8 7934.5 8338.6 1

 2 Security RPs 112.6 115.4 132.8 132.2 124.7 153.3 150.1 127.6 134.9 137.5 211.9 2

 3 Credit market instruments 1623.0 1747.1 1932.0 2203.1 2276.4 2657.2 2784.9 2834.3 2971.1 3031.4 3165.4 3

 4 Open market paper 94.2 97.1 114.5 114.1 51.6 80.2 77.4 55.9 63.3 66.3 137.5 4

 5 Treasury securities 149.0 155.7 160.7 179.2 187.9 255.5 269.9 278.3 294.3 297.4 300.5 5

 6 Agency- and GSE-backed securities 462.7 483.4 499.1 565.4 592.7 639.1 684.3 710.7 760.8 791.1 800.8 6

 7 Municipal securities 294.3 311.7 344.4 372.2 389.6 480.2 501.5 514.2 532.8 526.6 516.5 7

 8 Corporate and foreign bonds 596.8 662.7 767.0 889.9 959.9 1106.1 1166.8 1190.1 1234.5 1264.5 1324.6 8

 9 Other loans and advances 26.0 36.5 46.3 82.4 94.8 96.1 85.0 85.2 85.4 85.5 85.5 9

10 Corporate equities 3693.6 4175.7 4989.6 5476.9 3014.1 4136.2 4351.8 3799.5 4299.9 4762.7 4958.5 10

11 Miscellaneous assets 7.0 10.7 14.0 16.8 20.0 14.9 8.3 2.8 -4.1 2.9 2.9 11

12 Total shares outstanding (liabilities) 5436.3 6048.9 7068.3 7829.0 5435.3 6961.6 7295.0 6764.2 7401.8 7934.5 8338.6 12

(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; amounts outstanding end of period, not seasonally adjusted

 Closed-end funds

 1 Total financial assets 245.9 271.4 294.3 317.1 202.6 227.6 232.0 223.2 235.9 242.7 249.1 1

 2 Credit market instruments 163.6 165.8 171.8 170.9 129.9 139.2 141.7 139.7 142.0 143.5 145.5 2

 3 Treasury securities 6.8 7.1 7.4 5.6 3.2 4.3 5.0 4.8 5.0 5.1 5.2 3

 4 Municipal securities 89.1 89.4 89.4 91.3 77.9 80.9 81.1 81.3 81.7 80.3 79.6 4

 5 Corporate and foreign bonds 67.6 69.3 75.1 74.0 48.7 54.0 55.6 53.6 55.3 58.1 60.7 5

 6 Corporate equities 82.3 105.6 122.5 146.2 72.7 88.4 90.3 83.5 93.9 99.2 103.6 6

 7 Total shares outstanding (liabilities) 245.9 271.4 294.3 317.1 202.6 227.6 232.0 223.2 235.9 242.7 249.1 7

 Exchange-traded funds

 8 Total financial assets 227.3 300.8 422.8 607.7 530.9 772.9 800.5 767.1 874.9 986.5 1048.9 8

 9 Credit market instruments 8.2 15.0 20.7 34.0 57.0 102.9 113.2 124.6 133.4 132.6 140.0 9

10 Treasury securities 4.9 9.7 13.1 19.7 27.0 41.7 46.3 51.9 51.7 51.0 52.8 10

11 Municipal securities 0.0 0.0 0.0 0.6 2.3 5.9 6.5 7.3 7.8 7.6 7.5 11

12 Corporate and foreign bonds 3.3 5.3 7.6 13.8 27.7 55.3 60.4 65.5 73.9 74.0 79.8 12

13 Corporate equities 219.0 285.8 402.0 573.7 473.9 669.9 687.2 642.5 741.5 853.9 908.9 13

14 Total shares outstanding (liabilities) 227.3 300.8 422.8 607.7 530.9 772.9 800.5 767.1 874.9 986.5 1048.9 14
80 Z.1, June 9, 2011

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

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2882.9 2819.4 2872.9 3174.3 3400.0 3013.8 6888.5 6788.8 6662.6 6620.4 6561.0 1

 2 Checkable deposits and currency 39.1 14.6 16.4 13.7 88.3 99.4 99.0 99.1 47.3 63.4 70.4 2

 3 Time and savings deposits 23.3 35.3 33.9 46.6 68.5 25.7 21.2 23.7 22.1 26.1 23.7 3

 4 Federal funds and security RPs (net) 93.6 107.7 117.4 142.7 114.5 122.1 176.4 163.8 163.8 150.0 156.3 4

 5 Credit market instruments 2613.0 2543.9 2590.5 2829.5 3033.6 2699.7 6577.4 6494.1 6385.1 6333.1 6308.3 5

 6 Open market paper 5.8 13.8 32.4 27.7 6.8 9.7 8.6 10.4 8.6 9.9 9.5 6

 7 Treasury securities 12.9 13.1 14.2 15.5 16.8 21.9 60.1 72.2 69.5 55.2 58.5 7

 8 Agency- and GSE-backed securities 886.5 751.1 714.0 702.9 910.0 924.5 417.0 387.7 375.1 377.0 373.9 8

 9 Municipal securities 44.6 39.7 36.1 33.3 31.3 29.1 28.0 27.2 26.2 24.9 23.8 9

10 Corporate and foreign bonds 414.8 465.7 481.7 464.4 386.6 310.8 324.8 313.0 308.3 293.9 284.7 10

11 Other loans and advances 619.4 671.8 704.9 942.6 980.7 695.9 634.5 599.1 561.6 551.3 504.8 11

12 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Farm Credit System 43.6 51.6 63.5 75.5 80.3 80.0 77.7 76.5 81.9 87.3 71.5 13

14 FHLB 575.8 620.2 641.4 867.1 900.5 615.9 556.8 522.6 479.7 464.0 433.2 14

15 Mortgages 629.0 588.8 607.2 643.1 701.4 707.7 5104.4 5084.4 5035.8 5021.0 5053.1 15

16 Home 508.6 453.9 457.6 447.9 455.9 444.1 4795.7 4776.3 4725.7 4705.8 4738.3 16

17 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 4386.4 4238.7 4177.2 4141.0 4170.5 17

18 Other 508.6 453.9 457.6 447.9 455.9 444.1 409.3 537.6 548.5 564.8 567.9 18

19 Multifamily residential 82.5 93.0 105.4 147.7 187.7 204.4 249.7 249.2 251.3 256.5 256.1 19

20 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 58.9 60.0 63.0 75.4 81.4 20

21 Other 82.5 93.0 105.4 147.7 187.7 204.4 190.8 189.2 188.3 181.1 174.7 21

22 Farm 38.0 42.0 44.2 47.6 57.9 59.2 59.0 58.9 58.8 58.7 58.7 22

23 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Miscellaneous assets 113.9 117.8 114.7 141.7 95.0 66.8 14.4 8.2 44.4 47.9 2.4 24

25 Total liabilities 2819.9 2734.0 2781.2 3081.3 3394.1 2977.0 6810.7 6735.2 6616.6 6589.1 6577.8 25

26 Credit market instruments 2676.3 2592.2 2627.8 2910.2 3181.9 2706.6 6653.3 6591.1 6498.1 6434.5 6437.3 26

27 GSE issues (4) 2676.3 2592.2 2627.8 2910.2 3181.9 2706.6 6653.3 6591.1 6498.1 6434.5 6437.3 27

28 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 4445.3 4298.7 4240.3 4216.4 4251.8 28

29 Other 2676.3 2592.2 2627.8 2910.2 3181.9 2706.6 2207.9 2292.4 2257.8 2218.1 2185.5 29

30 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Miscellaneous liabilities 143.7 141.8 153.4 171.1 212.1 270.4 157.4 144.1 118.5 154.6 140.5 31

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, 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. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.125) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

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

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

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

 1 Total financial assets 3384.0 3548.5 3841.1 4464.4 4961.4 5376.7 980.2 1046.5 1096.0 1139.5 1187.0 1

 2 Home mortgages 3277.3 3446.4 3749.1 4371.8 4864.0 5266.5 920.7 982.5 1028.5 1068.8 1112.5 2

 3 Multifamily residential mortgages 105.7 101.3 88.8 88.1 92.8 105.7 56.1 60.1 63.7 66.9 71.3 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.9 0.8 3.2 4.5 4.7 4.5 3.3 3.8 3.8 3.8 3.2 5

 6 Total pool securities (liabilities)(2) 3384.0 3548.5 3841.1 4464.4 4961.4 5376.7 980.2 1046.5 1096.0 1139.5 1187.0 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (table L.124). 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.
Z.1, June 9, 2011 81

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

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2657.5 3387.6 4195.9 4540.6 4131.9 3347.4 2707.2 2574.3 2455.7 2351.3 2278.6 1

 2 Treasury securities 8.0 27.7 56.4 85.8 72.2 53.9 49.7 46.2 42.6 40.3 36.1 2

 3 Agency- and GSE-backed securities (1) 361.1 330.4 355.3 381.6 353.5 126.0 90.5 53.7 29.2 18.3 5.7 3

 4 Other loans and advances 168.1 188.3 253.4 341.9 379.8 328.7 259.0 245.6 236.0 222.2 223.5 4

 5 Mortgages (2) 1446.1 2131.4 2761.5 2936.0 2584.5 2199.7 2102.2 2030.1 1957.3 1887.0 1837.5 5

 6 Home 1051.5 1624.9 2142.3 2177.5 1865.7 1528.4 1441.7 1383.0 1324.8 1264.5 1211.3 6

 7 Multifamily residential 72.9 89.4 103.4 124.0 113.2 107.4 106.5 104.8 102.7 98.7 98.0 7

 8 Commercial 321.8 417.1 515.8 634.5 605.5 563.9 554.1 542.3 529.8 523.8 528.2 8

 9 Consumer credit 571.5 609.9 661.1 683.7 646.4 577.9 150.7 144.8 136.6 131.7 122.5 9

10 Trade credit 102.6 99.8 108.3 111.7 95.5 61.3 55.1 54.1 54.2 51.8 53.3 10

11 Total liabilities 2662.3 3391.7 4199.5 4543.8 4134.6 3349.7 2709.4 2576.5 2457.8 2353.3 2280.6 11

12 Commercial paper 526.1 674.4 837.4 643.1 559.3 293.1 126.4 112.2 119.4 122.8 133.1 12

13 Corporate bonds (net) (3) 2136.2 2717.3 3362.1 3900.7 3575.3 3056.7 2583.0 2464.3 2338.4 2230.5 2147.5 13

 Memo:

 Securitized assets not included above

14 Consumer leases (4) 4.8 4.2 3.6 3.1 2.7 2.3 2.3 2.2 2.1 2.0 2.0 14

15 REIT assets (5) 89.9 107.3 110.0 92.1 46.6 38.8 39.0 35.6 34.2 27.1 24.5 15

 Securitized liabilities not included above

16 Commercial paper (6) 0.0 0.0 0.0 0.0 0.0 0.0 132.5 135.8 129.2 112.9 109.2 16

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Liabilities net of assets.

(4) 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 nonfinancial asset.

(5) Included in table L.128.

(6) Included in table L.110 line 36.

L.127 Finance Companies (1)

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

 1 Total financial assets 1858.0 1856.9 1891.3 1911.2 1851.7 1662.5 1665.8 1642.9 1613.4 1590.0 1582.4 1

 2 Checkable deposits and currency 26.3 17.4 15.8 16.2 16.5 17.0 15.9 16.1 15.5 15.3 15.7 2

 3 Time and savings deposits 61.3 52.2 47.4 48.6 49.4 51.0 47.6 48.4 46.6 45.9 47.1 3

 4 Credit market instruments 1675.9 1740.6 1811.6 1828.2 1755.9 1532.6 1556.9 1526.1 1504.8 1482.8 1466.7 4

 5 Corporate and foreign bonds 256.0 203.5 184.8 189.4 192.4 198.6 185.6 188.7 181.6 179.0 183.7 5

 6 Other loans and advances 451.5 479.2 498.0 523.0 539.9 448.9 447.5 439.2 445.7 441.0 439.7 6

 7 Mortgages 476.0 541.4 594.4 531.9 447.9 397.4 386.9 371.1 361.2 344.2 333.0 7

 8 Consumer credit 492.3 516.5 534.4 584.1 575.8 487.8 536.9 527.2 516.3 518.6 510.2 8

 9 Miscellaneous assets 94.5 46.7 16.4 18.2 30.0 61.9 45.3 52.2 46.5 46.0 52.9 9

10 Total liabilities 1864.3 1828.3 1876.8 1949.6 1880.5 1630.3 1631.7 1599.0 1558.0 1536.7 1514.0 10

11 Credit market instruments 1129.6 1108.6 1144.2 1279.6 1200.3 1044.1 1048.1 1017.7 974.9 962.1 950.1 11

12 Open market paper 175.3 160.0 165.3 123.5 100.9 62.1 64.0 63.1 56.8 63.8 64.8 12

13 Corporate bonds 817.4 806.5 849.7 974.1 924.5 837.5 858.2 834.6 823.0 818.7 797.1 13

14 Bank loans n.e.c. 136.9 142.1 129.2 182.0 174.9 144.5 125.9 120.0 95.0 79.6 88.2 14

15 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Taxes payable 15.0 16.9 17.0 15.5 15.4 12.7 12.6 12.6 12.8 12.9 12.8 16

17 Miscellaneous liabilities 719.6 702.8 715.7 654.4 664.8 573.6 571.0 568.7 570.4 561.7 551.1 17

18 Foreign direct investment in U.S. 21.8 38.8 51.1 62.7 57.7 58.8 60.4 58.8 59.0 59.4 59.3 18

19 Investment by parent 257.7 312.2 338.5 321.4 313.0 280.5 277.3 273.5 272.5 264.6 257.6 19

20 Other 440.1 351.8 326.0 270.3 294.0 234.3 233.2 236.4 238.9 237.7 234.2 20

 Memo:

21 Consumer leases not included above (2) 74.1 85.3 106.0 122.9 111.1 85.4 80.7 77.2 74.8 72.7 73.3 21

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

(2) See footnote (3), table L.126.
82 Z.1, June 9, 2011

L.128 Real Estate Investment Trusts (REITs)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 251.3 305.3 344.0 316.7 253.9 255.5 261.0 272.2 288.8 295.2 352.6 1

 2 Checkable deposits and currency 12.2 13.6 18.4 16.6 18.4 26.5 25.4 26.1 24.7 23.6 28.6 2

 3 Credit market instruments 198.7 239.7 265.8 244.7 180.8 182.7 186.7 191.2 205.0 217.9 266.8 3

 4 Agency- and GSE-backed securities 44.7 40.6 65.4 88.9 90.5 105.8 109.8 115.4 129.3 143.8 191.1 4

 5 Corporate and foreign bonds 36.0 53.0 64.6 34.4 14.4 17.6 19.5 20.1 21.9 22.4 24.9 5

 6 Mortgages 118.1 146.1 135.8 121.3 75.9 59.2 57.4 55.7 53.8 51.6 50.7 6

 7 Home 102.9 127.4 103.7 79.2 36.7 27.5 25.4 22.8 21.7 21.0 20.3 7

 8 Multifamily residential 1.6 1.9 5.0 5.2 3.9 1.9 1.8 1.8 1.7 1.7 1.6 8

 9 Commercial 13.6 16.8 27.1 37.0 35.3 29.8 30.3 31.1 30.4 28.9 28.8 9

10 Miscellaneous assets 40.4 51.9 59.7 55.4 54.7 46.3 48.9 54.9 59.1 53.8 57.3 10

11 Total liabilities 460.8 533.7 571.3 578.7 515.2 473.3 486.7 493.6 507.8 514.0 563.1 11

12 Security RPs 70.3 83.5 97.9 91.7 80.5 95.1 94.3 100.6 108.2 126.6 167.1 12

13 Credit market instruments 340.1 395.5 411.0 421.2 372.6 338.9 343.4 345.0 353.8 350.1 356.4 13

14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Corporate bonds 183.8 216.7 230.6 231.3 176.2 151.2 157.6 160.4 167.5 157.7 160.2 15

16 Bank loans n.e.c. 24.9 33.3 28.4 33.2 32.9 20.8 18.6 17.1 18.0 18.6 19.6 16

17 Mortgages 131.4 145.5 152.1 156.7 163.5 166.9 167.1 167.6 168.3 173.8 176.6 17

18 Miscellaneous liabilities 50.4 54.7 62.4 65.8 62.1 39.3 49.1 47.9 45.8 37.3 39.6 18

 Memo:

19 Securitized assets included above 89.9 107.3 110.0 92.1 46.6 38.8 39.0 35.6 34.2 27.1 24.5 19

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

21 Home mortgages 86.8 102.5 92.7 72.4 33.0 24.8 22.9 20.5 19.5 18.9 18.2 21

22 Multifamily residential mortgages 0.1 0.1 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 22

23 Commercial mortgages 3.1 4.7 17.0 19.3 13.2 13.7 15.7 14.7 14.3 7.8 5.9 23
Z.1, June 9, 2011 83

L.129 Security Brokers and Dealers

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1844.9 2127.1 2741.7 3092.0 2217.2 2084.2 2092.0 1977.9 2025.7 2075.1 2099.6 1

 2 Checkable deposits and currency 62.9 56.5 80.5 105.0 120.1 90.7 90.2 86.1 89.5 96.9 92.1 2

 3 Credit market instruments 394.9 477.2 583.4 803.1 717.4 525.3 544.9 529.1 539.7 557.5 558.9 3

 4 Open market paper 48.0 60.2 64.3 87.1 65.7 41.5 38.5 33.1 34.2 36.2 39.9 4

 5 Treasury securities -44.6 -64.6 -67.0 -60.0 190.6 123.0 123.6 87.1 73.8 94.5 82.1 5

 6 Agency- and GSE-backed securities 107.3 101.0 138.0 290.2 242.6 110.9 127.5 161.9 173.5 149.8 153.2 6

 7 Municipal securities 32.0 42.9 50.9 50.1 38.7 35.4 40.3 35.0 39.2 40.0 37.0 7

 8 Corporate and foreign bonds 238.0 315.7 355.5 382.8 123.8 171.3 154.8 154.6 164.3 184.3 193.0 8

 9 Other loans and advances 14.2 22.0 41.7 52.8 55.9 43.2 60.1 57.4 54.8 52.6 53.7 9

10 Corporate equities 129.1 158.3 186.4 224.8 109.2 124.2 112.4 98.4 100.6 117.2 130.9 10

11 Security credit 264.0 232.4 292.1 325.5 164.8 203.0 196.4 217.0 233.7 278.2 315.7 11

12 Miscellaneous assets 994.0 1202.6 1599.4 1633.7 1105.7 1141.0 1148.1 1047.3 1062.2 1025.3 1001.9 12

13 Total liabilities 1777.8 2052.6 2669.1 3020.5 2146.3 1998.5 2002.6 1881.3 1934.8 1987.7 2013.0 13

14 Security RPs (net) 526.9 733.6 1071.8 1147.3 586.9 470.9 440.0 340.9 361.1 404.7 425.8 14

15 Credit market instruments 62.2 62.4 68.8 64.8 142.6 92.9 92.3 100.9 96.1 129.7 128.2 15

16 Corporate bonds 62.2 62.4 68.8 64.8 97.1 92.9 92.3 100.9 96.1 129.7 128.2 16

17 Bank loans n.e.c. (1) 0.0 0.0 0.0 0.0 45.5 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Trade payables 36.0 43.1 48.3 45.8 21.2 70.1 62.2 52.0 55.1 18.1 18.4 18

19 Security credit 774.2 806.0 957.8 1200.9 963.6 888.2 912.4 929.1 940.0 936.6 942.3 19

20 Customer credit balances (HH) 578.3 575.3 655.7 866.4 742.7 668.6 680.0 686.0 696.8 694.3 703.3 20

21 From banks 195.8 230.7 302.2 334.5 221.0 219.6 232.4 243.1 243.2 242.3 239.0 21

22 Taxes payable 2.2 2.1 2.8 2.2 2.5 5.7 4.4 4.4 6.4 3.6 4.2 22

23 Miscellaneous liabilities 376.4 405.5 519.5 559.5 429.5 470.8 491.4 454.0 476.1 495.0 494.2 23

24 Foreign direct investment in U.S. 49.6 49.9 61.0 63.7 60.2 85.2 88.5 83.1 86.7 100.4 105.2 24

25 Due to affiliates 429.4 544.5 596.5 560.4 626.1 1158.5 1181.5 1175.8 1214.2 1142.8 1150.0 25

26 Other -102.6 -188.9 -137.9 -64.6 -256.8 -773.0 -778.6 -804.8 -824.9 -748.2 -761.0 26

(1) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

L.130 Funding Corporations (1)

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

 1 Total financial assets 1183.6 1341.2 1460.4 1852.3 2858.7 2420.7 2291.1 2227.8 2227.4 2265.1 2130.2 1

 2 Money market fund shares 384.1 421.1 463.0 791.6 1065.3 904.8 765.5 694.1 686.0 689.1 590.6 2

 3 Security RPs 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 3

 4 Credit market instruments 264.7 317.4 363.5 309.2 999.9 764.4 788.4 842.7 807.2 869.7 829.8 4

 5 Open market paper 160.9 239.3 289.1 118.4 296.8 28.0 52.7 88.4 78.9 86.6 90.5 5

 6 Corporate and foreign bonds 96.8 67.5 60.4 170.0 667.3 710.2 711.4 730.4 704.9 760.1 716.5 6

 7 Other loans and advances 7.0 10.6 14.1 20.8 35.9 26.1 24.2 23.8 23.4 23.0 22.9 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 25.1 25.4 25.7 26.1 26.4 0.0 8

 9 Miscellaneous assets 534.8 602.8 633.9 751.5 793.5 726.3 711.7 665.2 708.0 679.8 709.7 9

10 Investment in foreign banking offices 167.7 188.8 197.3 241.0 276.6 203.1 189.2 150.4 177.1 171.6 190.5 10

11 Investment in brokers and dealers 367.1 414.0 436.5 510.5 516.9 523.2 522.5 514.8 531.0 508.2 519.2 11

12 Total liabilities 1183.6 1341.2 1460.4 1852.3 2858.7 2420.7 2291.1 2227.8 2227.4 2265.1 2130.2 12

13 Credit market instruments 515.1 619.9 645.3 786.4 1252.8 816.8 784.6 752.3 769.2 751.4 742.3 13

14 Open market paper 197.4 274.5 278.3 367.9 388.0 261.7 222.9 193.0 204.8 214.3 218.6 14

15 Corporate bonds 317.7 345.3 367.0 418.5 419.9 457.8 466.8 466.6 479.8 454.6 464.5 15

16 Bank loans n.e.c. (3) 0.0 0.0 0.0 0.0 444.9 95.3 90.2 85.0 76.3 73.4 49.9 16

17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 2.0 4.7 7.8 8.3 9.2 9.3 17

18 Miscellaneous liabilities 668.5 721.4 815.1 1065.9 1605.9 1604.0 1506.6 1475.5 1458.2 1513.7 1387.9 18

19 Foreign direct investment in U.S. 7.8 8.4 9.0 9.6 10.2 10.8 11.0 11.1 11.3 11.4 11.6 19

20 Securities loaned (net) 764.8 939.7 1242.3 1240.2 887.0 856.8 849.2 765.6 773.5 733.4 709.0 20

21 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 1.8 4.2 6.2 7.1 7.7 7.8 21

22 Other (net) -104.2 -226.8 -436.2 -183.9 708.6 734.5 642.2 692.7 666.3 761.2 659.4 22

(1) Funding subsidiaries, nonbank financial holding companies, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
84 Z.1, June 9, 2011

L.200 U.S. Official Reserve Assets (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 83.4 61.1 62.2 67.3 74.2 175.1 170.1 165.7 177.0 175.8 184.3 1

 2 Federal government: SDR allocations 7.6 7.0 7.4 7.7 7.5 55.4 53.6 52.2 55.0 54.4 56.0 2

 3 Rest of the world 75.8 54.1 54.9 59.5 66.6 119.7 116.5 113.5 122.1 121.4 128.3 3

 4 SDR holdings 13.6 8.2 8.9 9.5 9.3 57.8 56.0 54.6 57.4 56.8 56.5 4

 5 Reserve position in IMF (net) 19.5 8.0 5.0 4.2 7.7 11.4 11.6 11.4 12.9 12.5 19.3 5

 6 Foreign currency holdings 42.7 37.8 40.9 45.8 49.6 50.5 48.9 47.6 51.7 52.1 52.4 6

 7 Total assets 94.4 72.1 73.3 78.3 85.2 186.1 181.1 176.7 188.1 186.8 195.3 7

 8 Federal government 54.5 35.3 34.5 36.4 41.9 94.6 92.2 89.8 96.3 95.4 102.1 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 SDR holdings 13.6 8.2 8.9 9.5 9.3 57.8 56.0 54.6 57.4 56.8 56.5 10

11 Reserve position in IMF (net) 19.6 8.1 5.2 4.4 7.8 11.5 11.7 11.5 13.1 12.6 19.5 11

12 Foreign currency holdings 21.4 18.9 20.5 22.5 24.8 25.2 24.4 23.8 25.8 26.0 26.1 12

13 Rest of the world: SDR allocations 7.6 7.0 7.4 7.7 7.5 55.4 53.6 52.2 55.0 54.4 56.0 13

14 Monetary authority 32.3 29.9 31.4 34.2 35.7 36.2 35.4 34.7 36.8 37.0 37.2 14

15 Monetary gold (2) 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

16 Reserve position in IMF (net) -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 16

17 Foreign currency holdings 21.4 18.9 20.5 23.3 24.8 25.3 24.5 23.8 25.9 26.1 26.3 17

18 Discrepancy: monetary gold -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

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

 SDR certificates:

 1 Liab: Federal government 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 1

 2 Asset: Monetary authority 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 2

 Treasury currency:

 3 Liab: Federal government 26.7 27.5 28.1 27.4 26.6 26.2 26.2 26.2 25.9 25.9 25.9 3

 4 Asset: Monetary authority 36.4 36.5 38.2 38.7 38.7 42.7 42.7 43.2 43.4 43.5 43.8 4

 5 Discrepancy (seigniorage) -9.7 -9.1 -10.1 -11.3 -12.1 -16.5 -16.5 -17.0 -17.5 -17.6 -17.9 5

L.202 U.S. Deposits in Foreign Countries

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

 1 Total rest of the world liability 957.0 997.8 1085.0 1342.0 939.9 768.3 777.3 818.7 830.9 853.1 864.3 1

 Held by:

 2 Household sector 57.5 59.9 65.2 80.6 56.5 46.2 46.7 49.2 49.9 51.3 51.9 2

 3 Nonfinancial corporate business 53.7 63.6 49.3 50.3 24.7 31.6 38.2 49.1 59.6 72.1 69.4 3

 4 Money market mutual funds 78.5 94.7 84.1 127.3 129.3 97.1 92.5 92.5 103.9 105.9 107.5 4

 5 Discrepancy--unallocated assets 767.2 779.5 886.3 1083.9 729.4 593.4 599.9 627.9 617.4 623.9 635.5 5
Z.1, June 9, 2011 85

L.203 Net Interbank Transactions

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 209.8 197.4 186.1 88.6 1890.5 1282.6 1202.3 1148.1 1038.8 1100.8 1767.5 1

 2 Monetary authority 65.6 69.1 70.4 75.8 917.7 1031.9 1105.7 1027.3 985.1 1020.8 1460.4 2

 3 Depository institution reserves 24.0 19.0 18.7 20.8 860.0 977.0 1053.9 973.5 934.6 968.1 1407.0 3

 4 Vault cash 41.5 50.1 51.7 55.0 57.7 54.9 51.8 53.8 50.5 52.7 53.4 4

 5 Commercial banking 144.2 128.3 115.7 12.8 972.8 250.7 96.6 120.8 53.7 80.0 307.1 5

 6 To monetary authority 1.0 1.0 -0.3 48.6 558.2 94.5 9.9 -1.3 -1.3 -1.2 -1.3 6

 7 To banks in foreign countries, net 118.3 106.0 96.7 -56.9 362.9 70.1 27.8 48.1 -14.5 19.4 232.4 7

 8 Liabilities, net 142.4 117.7 108.7 -38.4 387.6 84.7 46.9 71.1 8.8 42.8 257.3 8

 9 U.S.-chartered commercial banks 317.4 320.9 432.3 496.2 668.8 560.5 477.7 469.5 475.8 485.2 462.3 9

10 Due to foreign affiliates 467.4 487.7 586.4 650.7 782.2 762.2 762.5 780.5 781.3 783.0 772.5 10

11 - Due from foreign affiliates 150.0 166.8 154.2 154.5 113.3 201.7 284.7 311.0 305.5 297.8 310.2 11

12 Foreign banking offices in U.S. -167.4 -176.0 -255.2 -424.0 -179.6 -350.7 -298.0 -299.6 -348.7 -306.7 -83.1 12

13 Due to foreign affiliates 274.3 333.9 524.5 529.0 536.4 538.7 577.2 576.0 599.8 635.0 770.2 13

14 - Due from foreign affiliates 441.8 509.9 779.7 953.0 716.1 889.5 875.2 875.6 948.5 941.7 853.3 14

15 Bank holding companies -7.5 -27.1 -68.4 -110.6 -101.5 -125.1 -132.9 -98.9 -118.3 -135.6 -121.9 15

16 Due to foreign affiliates 33.0 42.2 19.7 51.6 143.6 127.9 119.5 138.1 122.0 120.4 139.7 16

17 - Due from foreign affiliates 40.5 69.4 88.1 162.2 245.1 253.0 252.3 237.0 240.3 256.0 261.6 17

18 Less: Deposits at foreign banks 24.1 11.7 12.0 18.6 24.7 14.6 19.1 22.9 23.3 23.4 25.0 18

19 U.S. chartered commercial banks 23.6 11.0 11.9 17.9 24.5 9.3 11.6 15.3 13.4 14.9 14.9 19

20 Foreign banking offices in U.S. 0.5 0.7 0.1 0.7 0.3 5.4 7.5 7.6 9.9 8.5 10.1 20

21 To U.S. banking, net 24.9 21.3 19.3 21.1 51.7 86.1 58.9 74.0 69.4 61.8 76.1 21

22 U.S.-chartered commercial banks -22.8 -22.3 -57.1 -24.9 88.5 27.4 -26.4 -1.5 -29.4 -39.2 -14.1 22

23 Due to: 116.9 105.6 118.7 135.1 118.2 141.0 111.1 122.6 120.5 113.7 139.0 23

24 Foreign offices in U.S. 90.1 82.9 97.8 113.2 65.8 43.6 40.1 41.6 42.9 41.9 51.4 24

25 Bank holding companies 1.8 1.4 1.6 0.8 0.7 11.2 12.1 7.0 8.2 10.0 11.5 25

26 Unallocated 24.9 21.3 19.3 21.1 51.7 86.1 58.9 74.0 69.4 61.8 76.1 26

27 Less, due from: 139.7 128.0 175.8 160.1 29.8 113.6 137.5 124.1 149.9 152.9 153.0 27

28 Foreign offices in U.S. 122.3 117.9 140.0 133.7 82.1 77.4 88.1 97.9 96.0 82.9 92.6 28

29 Bank holding companies 17.4 10.0 35.8 26.4 -52.3 36.3 49.4 26.3 53.9 69.9 60.4 29

30 Foreign banking offices in U.S. 32.2 35.0 42.2 20.5 16.2 33.7 48.0 56.3 53.1 41.0 41.2 30

31 Due to U.S. banks 122.3 117.9 140.0 133.7 82.1 77.4 88.1 97.9 96.0 82.9 92.6 31

32 - Due from U.S. banks 90.1 82.9 97.8 113.2 65.8 43.6 40.1 41.6 42.9 41.9 51.4 32

33 Bank holding companies 15.5 8.6 34.2 25.5 -53.0 25.0 37.3 19.2 45.7 60.0 48.9 33

34 Due to U.S. banks 17.4 10.0 35.8 26.4 -52.3 36.3 49.4 26.3 53.9 69.9 60.4 34

35 - Due from U.S. banks 1.8 1.4 1.6 0.8 0.7 11.2 12.1 7.0 8.2 10.0 11.5 35

36 Total assets 184.9 176.1 166.8 67.5 1838.9 1196.5 1143.4 1074.1 969.3 1039.0 1691.4 36

37 Rest of the world 118.3 106.0 96.7 -56.9 362.9 70.1 27.8 48.1 -14.5 19.4 232.4 37

38 Domestic 66.5 70.1 70.1 124.4 1475.9 1126.4 1115.6 1026.0 983.8 1019.6 1459.1 38

39 Monetary authority 1.0 1.0 -0.3 48.6 558.2 94.5 9.9 -1.3 -1.3 -1.2 -1.3 39

40 Federal Reserve float 0.9 0.9 -0.3 -0.0 -1.5 -2.1 -1.6 -1.9 -1.6 -1.4 -1.4 40

41 Loans to member banks 0.0 0.1 0.1 48.6 559.7 96.6 11.5 0.7 0.3 0.2 0.1 41

42 Commercial banking 62.3 66.4 68.4 73.2 874.1 963.6 1015.4 950.7 903.5 939.2 1349.1 42

43 Reserves at Federal Reserve 20.8 16.3 16.7 18.2 816.3 908.7 963.6 896.9 853.0 886.4 1295.7 43

44 Vault cash 41.5 50.1 51.7 55.0 57.7 54.9 51.8 53.8 50.5 52.7 53.4 44

45 Savings insts.: Reserves at Fed. Res. 3.3 2.7 2.0 2.6 39.0 45.5 55.3 49.9 46.4 44.8 56.6 45

46 Credit unions: Reserves at Fed. Res. 0.0 0.0 0.0 0.0 4.7 22.8 35.0 26.7 35.2 36.9 54.7 46

47 Discrepancy--floats, etc. 24.9 21.3 19.3 21.1 51.7 86.1 58.9 74.0 69.4 61.8 76.1 47
86 Z.1, June 9, 2011

L.204 Checkable Deposits and Currency

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 1522.8 1527.2 1507.3 1532.9 2101.3 2093.4 2067.1 2173.1 2181.2 2359.8 2192.6 1

 2 Monetary authority 720.8 750.8 774.3 792.1 1220.3 1102.7 1120.5 1207.8 1218.8 1287.8 1078.6 2

 3 Federal government cash and deposits 6.2 4.8 5.0 16.4 365.7 191.9 216.7 287.8 308.1 340.9 116.4 3

 4 Due to government-sponsored enterprises 1.1 2.0 0.8 1.7 21.1 35.1 19.3 27.4 4.0 13.5 10.2 4

 5 Deposits due to foreign 0.1 0.1 0.1 0.1 1.4 2.4 1.7 1.2 2.5 3.4 0.1 5

 6 Currency outside banks 713.3 743.9 768.5 773.9 832.2 873.3 882.8 891.3 904.2 930.0 951.9 6

 7 Commercial banking 646.7 610.3 574.4 587.7 729.1 814.0 768.0 787.9 785.5 890.6 925.8 7

 8 Federal government deposits 26.9 33.9 28.0 42.9 3.5 3.8 4.1 3.2 3.6 3.6 3.6 8

 9 Deposits due to foreign 13.2 19.7 28.8 34.1 67.6 44.6 45.5 47.0 43.5 44.4 55.3 9

10 Private domestic deposits 606.6 556.8 517.6 510.7 658.0 765.7 718.3 737.7 738.5 842.6 866.8 10

11 Savings institutions 81.2 85.0 85.9 79.4 76.6 89.7 90.1 89.2 88.4 88.9 90.5 11

12 Credit unions 74.1 81.1 72.6 73.7 75.3 86.9 88.5 88.2 88.5 92.4 97.7 12

13 Total assets 1522.8 1527.2 1507.3 1532.9 2101.3 2093.4 2067.1 2173.1 2181.2 2359.8 2192.6 13

14 Household sector 344.1 216.9 173.1 90.3 292.0 380.0 282.6 250.7 214.9 273.5 285.2 14

15 Nonfinancial business 495.6 646.2 604.5 662.9 558.0 656.1 725.8 760.0 812.3 876.0 896.8 15

16 Corporate 194.2 267.8 150.9 141.9 32.7 168.7 245.6 286.0 344.1 410.4 432.6 16

17 Nonfarm noncorporate 279.2 355.5 428.6 494.3 497.6 458.7 451.5 445.1 439.1 436.4 434.9 17

18 Farm 22.3 22.9 25.0 26.8 27.7 28.6 28.7 28.9 29.0 29.2 29.3 18

19 State and local governments 47.0 56.5 61.9 57.1 65.6 84.9 81.0 81.8 81.4 91.5 90.1 19

20 Federal government 21.9 36.8 32.9 56.5 368.0 193.6 219.5 291.6 310.2 342.1 117.5 20

21 Rest of the world 285.3 300.1 311.6 306.1 370.1 360.7 363.2 366.4 374.6 389.8 410.1 21

22 Checkable deposits 13.3 19.7 28.9 34.2 69.0 47.0 47.2 48.2 45.9 47.7 55.4 22

23 Currency 272.0 280.4 282.6 272.0 301.1 313.8 316.0 318.1 328.7 342.1 354.7 23

24 Financial sectors 312.0 261.5 315.8 350.0 441.1 411.8 390.3 419.7 382.9 381.2 387.1 24

25 Commercial banking 3.5 3.0 2.9 2.6 3.2 4.2 3.9 5.4 5.3 3.3 4.1 25

26 Savings institutions 21.3 23.7 20.4 20.0 8.7 4.5 0.8 5.2 7.7 2.2 3.5 26

27 Credit unions 40.2 38.1 44.4 43.3 37.6 39.1 37.2 39.9 36.8 32.8 28.1 27

28 Property-casualty insurance companies 25.9 21.0 29.9 42.7 27.9 27.6 28.3 37.1 39.3 32.6 33.8 28

29 Life insurance companies 53.3 47.7 56.1 58.3 82.8 50.7 47.7 57.8 59.5 51.7 47.3 29

30 Private pension funds 10.5 10.8 11.2 11.8 12.3 16.4 18.9 21.9 24.6 28.0 31.3 30

31 State and local govt. retirement funds 16.3 15.8 13.1 17.9 17.8 17.7 17.8 17.5 17.2 17.3 18.1 31

32 Money market mutual funds 0.6 -0.9 6.7 1.9 7.5 17.9 5.3 7.5 15.3 14.2 14.0 32

33 Government-sponsored enterprises 39.1 14.6 16.4 13.7 88.3 99.4 99.0 99.1 47.3 63.4 70.4 33

34 Finance companies 26.3 17.4 15.8 16.2 16.5 17.0 15.9 16.1 15.5 15.3 15.7 34

35 REITs 12.2 13.6 18.4 16.6 18.4 26.5 25.4 26.1 24.7 23.6 28.6 35

36 Brokers and dealers 62.9 56.5 80.5 105.0 120.1 90.7 90.2 86.1 89.5 96.9 92.1 36

37 Mail float 16.9 9.2 7.5 10.0 6.4 6.3 4.7 2.8 5.0 5.7 5.9 37
Z.1, June 9, 2011 87

L.205 Time and Savings Deposits 

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 5788.8 6387.6 6995.8 7606.7 7940.9 8316.3 8347.2 8242.7 8376.6 8432.4 8551.7 1

 2 Small time and savings deposits 4283.7 4598.1 4945.1 5224.5 5749.3 6326.5 6459.4 6443.4 6539.7 6624.9 6740.1 2

 3 Commercial banking 3258.7 3527.1 3814.7 4077.7 4619.1 5003.5 5110.9 5099.1 5198.6 5280.9 5365.2 3

 4 U.S.-chartered commercial banks 3230.2 3493.1 3770.9 4025.9 4566.2 4949.1 5056.5 5047.9 5128.1 5225.9 5303.2 4

 5 Foreign banking offices in U.S. 9.5 10.0 18.6 25.5 25.6 29.9 30.2 31.6 50.8 35.7 42.6 5

 6 Banks in U.S.-affiliated areas 19.0 23.9 25.2 26.3 27.4 24.5 24.2 19.6 19.8 19.3 19.4 6

 7 Savings institutions 584.5 618.5 647.5 638.1 578.5 667.9 674.8 665.9 661.9 662.7 676.2 7

 8 Credit unions 440.4 452.5 483.0 508.7 551.7 655.1 673.7 678.4 679.3 681.3 698.8 8

 9 Large time deposits (1) 1505.1 1789.5 2050.8 2382.2 2191.6 1989.8 1887.8 1799.3 1836.9 1807.5 1811.6 9

10 Commercial banking 1120.6 1363.7 1627.7 1925.3 1827.7 1824.8 1718.9 1626.7 1656.2 1619.9 1619.1 10

11 U.S.-chartered commercial banks 671.3 838.1 968.0 991.1 1015.6 841.7 789.9 770.5 749.9 691.6 663.2 11

12 Foreign banking offices in U.S. 430.3 501.7 634.5 907.9 784.7 958.6 904.7 836.6 886.5 909.0 936.5 12

13 Banks in U.S.-affiliated areas 19.0 23.9 25.2 26.3 27.4 24.5 24.2 19.6 19.8 19.3 19.4 13

14 Savings institutions 324.5 363.3 358.0 387.1 293.5 137.7 140.7 144.2 151.3 157.6 161.2 14

15 Credit unions 60.0 62.5 65.0 69.9 70.4 27.3 28.2 28.4 29.4 30.1 31.3 15

16 Total assets 5788.8 6387.6 6995.8 7606.7 7940.9 8316.3 8347.2 8242.7 8376.6 8432.4 8551.7 16

17 Household sector 4426.8 4913.9 5400.4 5888.5 6082.8 6211.2 6343.8 6350.6 6411.3 6458.0 6513.2 17

18 Nonfinancial business 701.1 774.5 841.4 800.7 740.0 821.3 785.2 760.5 789.5 788.0 820.1 18

19 Corporate 400.5 450.4 497.0 441.3 381.9 491.2 460.3 440.2 473.5 473.9 507.2 19

20 Nonfarm noncorporate 300.6 324.1 344.4 359.3 358.1 330.1 324.9 320.3 316.0 314.1 312.9 20

21 State and local governments 170.6 183.3 209.6 245.9 265.1 275.9 281.9 265.1 268.7 275.5 278.8 21

22 Federal government 2.4 1.4 1.7 2.8 1.6 1.9 2.0 1.8 1.8 2.0 1.5 22

23 Rest of the world 149.2 155.9 167.4 207.6 273.1 229.5 220.0 223.8 229.6 232.8 252.9 23

24 Financial sectors 338.8 358.7 375.5 461.1 578.4 776.4 714.3 640.9 675.8 676.3 685.1 24

25 Savings institutions 3.2 2.7 6.6 9.9 8.3 15.3 19.1 18.2 17.7 15.3 21.1 25

26 Credit unions 26.4 21.9 17.0 17.0 28.3 37.8 41.0 42.6 43.1 43.2 44.5 26

27 Private pension funds 55.9 62.2 63.1 67.7 67.9 72.7 73.7 74.9 75.7 77.1 78.0 27

28 State and local govt. retirement funds 1.4 1.3 0.8 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 28

29 Money market mutual funds 167.2 183.0 206.7 270.6 355.2 573.2 510.8 432.3 470.0 468.0 469.9 29

30 Government-sponsored enterprises 23.3 35.3 33.9 46.6 68.5 25.7 21.2 23.7 22.1 26.1 23.7 30

31 Finance companies 61.3 52.2 47.4 48.6 49.4 51.0 47.6 48.4 46.6 45.9 47.1 31

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

L.206 Money Market Mutual Fund Shares

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

 1 Total assets 1879.8 2006.9 2312.1 3033.1 3757.3 3258.3 2930.7 2760.4 2746.1 2755.3 2679.4 1

 2 Household sector 904.1 949.2 1114.5 1346.7 1581.8 1298.3 1194.5 1144.6 1139.0 1151.2 1187.7 2

 3 Nonfinancial corporate business 308.6 348.2 416.3 544.4 702.6 646.1 568.3 524.3 521.8 517.5 497.4 3

 4 Nonfarm noncorporate business 66.5 69.0 72.2 74.3 75.4 69.5 68.4 67.4 66.5 66.1 65.9 4

 5 State and local governments 66.6 71.7 78.5 81.9 80.5 85.0 86.8 86.1 88.1 90.8 90.9 5

 6 Rest of the world 22.9 23.0 27.0 46.0 69.7 80.6 81.4 82.2 83.0 83.8 84.6 6

 7 Property-casualty insurance companies 13.4 12.8 13.5 20.7 32.8 29.6 25.3 24.6 27.9 25.6 27.7 7

 8 Life insurance companies 17.2 13.5 23.3 21.6 39.2 33.7 29.8 26.5 23.6 21.0 23.8 8

 9 Private pension funds 84.9 86.7 90.1 93.5 95.7 96.4 96.4 96.4 96.3 96.3 96.2 9

10 State and local govt. retirement funds 11.6 11.7 13.8 12.4 14.3 14.3 14.4 14.2 13.9 13.9 14.7 10

11 Funding corporations 384.1 421.1 463.0 791.6 1065.3 904.8 765.5 694.1 686.0 689.1 590.6 11
88 Z.1, June 9, 2011

L.207 Federal Funds and Security Repurchase Agreements

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 1433.3 1748.5 2151.7 2159.8 1271.4 1457.1 1466.7 1330.2 1296.8 1233.5 1263.3 1

 2 Monetary authority 30.8 30.5 29.6 44.0 88.4 77.7 57.8 67.2 63.8 59.7 62.2 2

 3 Commercial banking (net) 727.4 817.7 888.2 838.5 482.8 746.6 811.2 760.7 703.0 583.2 559.9 3

 4 U.S.-chartered commercial banks 569.1 626.1 647.5 611.4 352.4 624.0 667.3 603.7 538.6 409.5 393.0 4

 5 Foreign banking offices in U.S. 157.5 190.9 239.9 226.3 130.0 170.3 195.3 216.1 231.7 223.2 224.4 5

 6 Bank holding companies 0.8 0.6 0.8 0.8 0.4 -47.7 -51.4 -59.0 -67.3 -49.5 -57.6 6

 7 Savings institutions 63.3 61.0 41.8 17.6 17.6 53.6 53.9 50.2 49.2 47.6 38.3 7

 8 Property-casualty insurance companies 1.2 1.3 1.2 0.5 2.4 0.6 0.5 0.6 0.5 1.5 0.6 8

 9 Life insurance companies 13.5 20.9 21.2 20.2 12.9 12.4 9.2 9.8 11.0 10.3 9.5 9

10 REITs 70.3 83.5 97.9 91.7 80.5 95.1 94.3 100.6 108.2 126.6 167.1 10

11 Brokers and dealers (net) 526.9 733.6 1071.8 1147.3 586.9 470.9 440.0 340.9 361.1 404.7 425.8 11

12 Total assets 856.2 1065.1 1294.8 1536.9 1243.7 1048.4 1003.5 889.6 937.6 940.2 1039.7 12

13 Nonfinancial corporate business 6.4 14.6 15.5 8.1 7.2 8.0 9.4 9.6 7.5 13.7 10.9 13

14 State and local governments 131.2 141.2 154.6 161.2 158.6 167.3 170.9 169.4 173.5 178.7 179.0 14

15 Rest of the world (net) 185.7 231.2 364.6 338.4 114.9 31.1 -31.2 -123.0 -118.5 -99.1 -37.3 15

16 Monetary authority 33.0 46.8 40.8 46.5 80.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Savings institutions 9.1 9.0 18.3 45.6 34.7 12.0 9.5 7.8 7.0 5.4 4.5 17

18 Credit unions (net) 4.1 6.7 5.1 2.5 -2.3 0.1 0.1 0.1 0.0 0.0 0.0 18

19 Property-casualty insurance companies 2.0 2.7 1.9 3.6 4.4 4.5 8.3 6.1 5.9 3.8 3.5 19

20 Life insurance companies 3.6 2.6 2.6 2.7 8.0 10.2 11.3 11.0 11.0 10.9 10.5 20

21 Private pension funds 20.6 21.6 22.4 25.8 33.1 36.2 36.3 31.3 36.8 37.1 37.3 21

22 State and local govt. retirement funds 20.2 19.7 24.1 21.7 23.5 23.5 23.6 23.2 22.8 22.8 24.0 22

23 Money market mutual funds 234.0 346.0 394.6 605.9 542.4 479.9 438.9 462.5 492.9 479.4 439.2 23

24 Mutual funds 112.6 115.4 132.8 132.2 124.7 153.3 150.1 127.6 134.9 137.5 211.9 24

25 Government-sponsored enterprises (net) 93.6 107.7 117.4 142.7 114.5 122.1 176.4 163.8 163.8 150.0 156.3 25

26 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 26

27 Discrepancy--unallocated assets 577.1 683.3 856.9 622.8 27.7 408.7 463.2 440.6 359.2 293.3 223.6 27

L.208 Open Market Paper

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

 1 Total outstanding, all types 1399.1 1644.2 1958.0 1788.6 1599.3 1137.4 1081.0 1028.0 1050.6 1057.5 1131.2 1

 2 Commercial paper 1395.0 1640.1 1957.5 1788.1 1599.3 1137.4 1081.0 1028.0 1050.6 1057.5 1131.2 2

 3 Nonfinancial corporate business 97.8 90.1 112.5 123.8 131.5 58.4 73.6 82.0 97.9 82.9 110.5 3

 4 Foreign issues in U.S. 345.3 384.0 482.3 413.0 342.0 401.3 387.5 378.3 378.0 396.0 421.5 4

 5 Nonfinancial 13.3 29.0 27.0 29.0 49.7 34.5 34.8 33.4 29.4 37.0 48.7 5

 6 Financial 332.0 355.0 455.3 384.0 292.3 366.8 352.8 345.0 348.6 359.0 372.8 6

 7 Financial business 951.9 1166.1 1362.7 1251.3 1125.8 677.6 619.8 567.7 574.6 578.6 599.2 7

 8 Commercial banking 53.1 57.1 81.7 116.7 77.7 60.8 206.5 199.5 193.6 177.6 182.8 8

 9 ABS issuers 526.1 674.4 837.4 643.1 559.3 293.1 126.4 112.2 119.4 122.8 133.1 9

10 Finance companies 175.3 160.0 165.3 123.5 100.9 62.1 64.0 63.1 56.8 63.8 64.8 10

11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Funding corporations 197.4 274.5 278.3 367.9 388.0 261.7 222.9 193.0 204.8 214.3 218.6 12

13 Bankers’ acceptances (1) 4.1 4.1 0.5 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Holdings, by sector 1399.1 1644.2 1958.0 1788.6 1599.3 1137.4 1081.0 1028.0 1050.6 1057.5 1131.2 14

15 Household sector 83.7 98.4 117.5 107.3 6.0 34.6 44.6 54.2 63.0 63.4 67.9 15

16 Nonfinancial corporate business 95.0 111.0 122.7 69.5 57.3 56.9 58.2 65.3 74.2 73.3 67.8 16

17 State and local governments 171.7 184.8 202.4 191.1 127.6 74.1 68.7 56.8 52.2 49.0 39.3 17

18 Rest of the world 229.8 239.6 286.3 278.1 232.9 191.5 194.1 187.4 192.5 192.4 200.5 18

19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Commercial banking (1) 0.0 0.0 0.0 0.0 15.7 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Savings institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Credit unions 0.8 0.8 1.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Property-casualty insurance companies 12.3 15.8 16.4 13.3 19.1 9.8 11.1 10.4 11.8 7.9 8.5 23

24 Life insurance companies 27.4 24.4 28.7 41.7 38.3 49.8 35.7 39.3 46.0 40.9 33.5 24

25 Private pension funds 28.5 31.5 31.7 26.9 37.2 26.7 21.7 18.2 17.1 15.0 14.8 25

26 State and local govt. retirement funds 35.2 35.2 42.8 38.4 25.9 24.0 24.1 22.7 22.3 22.4 23.5 26

27 Money market mutual funds 405.8 492.2 608.3 674.6 618.5 510.5 445.6 385.9 386.4 394.2 398.1 27

28 Mutual funds 94.2 97.1 114.5 114.1 51.6 80.2 77.4 55.9 63.3 66.3 137.5 28

29 Government-sponsored enterprises 5.8 13.8 32.4 27.7 6.8 9.7 8.6 10.4 8.6 9.9 9.5 29

30 Brokers and dealers 48.0 60.2 64.3 87.1 65.7 41.5 38.5 33.1 34.2 36.2 39.9 30

31 Funding corporations 160.9 239.3 289.1 118.4 296.8 28.0 52.7 88.4 78.9 86.6 90.5 31

(1) Excludes banks’ holdings of own acceptances.
Z.1, June 9, 2011 89

L.209 Treasury Securities

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 4370.7 4678.0 4861.7 5099.2 6338.2 7781.9 8259.6 8603.8 8993.8 9361.5 9621.4 1

 2 Savings bonds 204.4 205.1 202.4 196.4 194.0 191.2 190.2 189.6 188.7 187.9 186.8 2

 3 Other Treasury issues 4166.3 4472.9 4659.4 4902.8 6144.2 7590.7 8069.4 8414.2 8805.1 9173.6 9434.6 3

 4 Total assets 4370.7 4678.0 4861.7 5099.2 6338.2 7781.9 8259.6 8603.8 8993.8 9361.5 9621.4 4

 5 Household sector 492.6 464.3 384.1 255.6 247.7 776.2 928.0 1106.3 1123.4 1114.4 959.4 5

 6 Savings bonds 204.4 205.1 202.4 196.4 194.0 191.2 190.2 189.6 188.7 187.9 186.8 6

 7 Other Treasury issues 288.2 259.2 181.7 59.2 53.7 585.0 737.8 916.7 934.7 926.5 772.7 7

 8 Nonfinancial corporate business 34.0 52.1 45.5 38.3 30.5 39.1 45.3 47.6 48.2 38.9 48.7 8

 9 Nonfarm noncorporate business 50.2 56.2 56.3 59.3 51.8 47.8 47.0 46.3 45.7 45.4 45.3 9

10 State and local governments 389.1 481.4 526.9 534.1 485.5 505.6 506.1 511.6 508.0 516.7 506.1 10

11 Rest of the world 1813.6 1984.4 2126.2 2376.4 3251.4 3697.2 3890.0 4009.5 4263.0 4377.8 4445.4 11

12 Monetary authority 717.8 744.2 778.9 740.6 475.9 776.6 776.7 777.0 811.7 1021.5 1340.4 12

13 Commercial banking 107.8 97.0 94.9 112.3 93.2 185.4 251.3 246.2 311.9 298.5 301.8 13

14 U.S.-chartered commercial banks 74.2 64.2 61.9 73.0 53.4 117.7 181.6 181.2 220.2 211.6 210.0 14

15 Foreign banking offices in U.S. 27.7 27.8 26.8 30.4 35.5 61.4 63.1 58.7 73.4 66.2 74.6 15

16 Bank holding companies 2.0 1.1 2.5 7.1 3.1 5.8 5.8 5.0 17.2 19.6 16.1 16

17 Banks in U.S.-affiliated areas 3.8 3.9 3.7 1.8 1.2 0.5 0.9 1.3 1.1 1.1 1.1 17

18 Savings institutions 8.4 12.3 12.5 7.0 3.0 6.8 7.1 6.7 6.0 5.9 6.0 18

19 Credit unions 8.9 7.7 7.4 10.4 8.8 14.2 15.9 17.2 10.8 18.4 20.9 19

20 Property-casualty insurance companies 106.6 106.9 110.0 71.3 65.6 88.5 87.1 87.7 90.4 91.7 93.3 20

21 Life insurance companies 81.9 95.4 87.9 70.6 105.7 133.5 137.6 142.1 146.9 152.0 155.5 21

22 Private pension funds 113.0 116.5 130.8 169.5 184.9 310.7 341.6 407.4 466.9 486.7 504.7 22

23 State and local govt. retirement funds 151.0 153.8 156.2 141.6 146.4 174.5 179.1 182.0 185.5 185.6 187.9 23

24 Federal government retirement funds 60.7 68.4 76.7 88.0 112.3 119.1 120.6 124.5 128.2 129.2 133.0 24

25 Money market mutual funds 98.2 88.6 82.7 178.1 577.7 406.4 371.5 351.2 310.3 335.4 337.7 25

26 Mutual funds 149.0 155.7 160.7 179.2 187.9 255.5 269.9 278.3 294.3 297.4 300.5 26

27 Closed-end funds 6.8 7.1 7.4 5.6 3.2 4.3 5.0 4.8 5.0 5.1 5.2 27

28 Exchange-traded funds 4.9 9.7 13.1 19.7 27.0 41.7 46.3 51.9 51.7 51.0 52.8 28

29 Government-sponsored enterprises 12.9 13.1 14.2 15.5 16.8 21.9 60.1 72.2 69.5 55.2 58.5 29

30 ABS issuers 8.0 27.7 56.4 85.8 72.2 53.9 49.7 46.2 42.6 40.3 36.1 30

31 Brokers and dealers -44.6 -64.6 -67.0 -60.0 190.6 123.0 123.6 87.1 73.8 94.5 82.1 31

 Memo:

32 Federal government debt (1) 4395.0 4701.9 4885.3 5122.3 6361.5 7805.4 8283.2 8627.7 9017.8 9385.6 9645.9 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).
90 Z.1, June 9, 2011

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

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 6084.5 6164.5 6492.4 7397.7 8166.7 8106.8 7657.0 7661.4 7618.0 7598.2 7648.7 1

 2 Budget agencies 24.3 23.8 23.5 23.1 23.3 23.5 23.6 23.9 24.0 24.2 24.5 2

 3 Government-sponsored enterprises 2676.3 2592.2 2627.8 2910.2 3181.9 2706.6 6653.3 6591.1 6498.1 6434.5 6437.3 3

 4 Agency- and GSE-backed mortgage pools 3384.0 3548.5 3841.1 4464.4 4961.4 5376.7 980.2 1046.5 1096.0 1139.5 1187.0 4

 5 Total assets 6084.5 6164.5 6492.4 7397.7 8166.7 8106.8 7657.0 7661.4 7618.0 7598.2 7648.7 5

 6 Household sector 402.6 496.3 405.0 669.3 711.7 104.3 55.2 67.5 79.9 108.7 185.1 6

 7 Nonfinancial corporate business 11.3 17.4 15.2 12.8 10.2 13.0 15.1 15.9 16.1 13.0 16.2 7

 8 State and local governments 373.2 401.6 439.9 458.7 451.1 436.1 441.1 432.1 438.8 448.4 444.1 8

 9 Federal government 0.0 0.0 0.0 0.0 54.4 196.4 186.4 175.3 164.4 149.2 138.4 9

10 Rest of the world 875.2 1012.9 1263.6 1582.4 1406.9 1167.2 1155.7 1194.5 1176.9 1166.5 1173.3 10

11 Monetary authority 0.0 0.0 0.0 0.0 19.7 1068.3 1237.7 1282.9 1232.6 1139.6 1069.7 11

12 Commercial banking 1095.1 1089.6 1135.6 1022.3 1169.4 1298.2 1289.0 1279.2 1330.5 1369.5 1372.0 12

13 U.S.-chartered commercial banks 996.1 992.7 1040.3 928.9 1068.7 1221.3 1216.6 1210.5 1257.2 1308.3 1313.3 13

14 Foreign banking offices in U.S. 51.8 50.9 55.1 57.1 50.5 32.1 31.4 30.4 30.2 27.3 29.5 14

15 Bank holding companies 13.5 11.2 11.2 9.9 25.8 24.3 22.6 22.1 30.1 21.1 22.2 15

16 Banks in U.S.-affiliated areas 33.6 34.8 29.0 26.3 24.4 20.5 18.4 16.2 13.0 12.8 6.9 16

17 Savings institutions 136.4 192.3 177.0 177.4 173.8 193.4 202.6 199.8 203.8 216.4 220.0 17

18 Credit unions 93.1 86.4 72.5 68.4 82.9 110.8 123.5 133.6 136.3 145.6 161.9 18

19 Property-casualty insurance companies 112.1 117.9 122.0 125.8 114.3 116.2 116.1 116.0 115.9 115.8 116.2 19

20 Life insurance companies 357.1 368.5 377.4 382.9 366.2 371.9 373.8 375.8 377.9 380.2 386.1 20

21 Private pension funds 235.3 252.0 268.6 296.8 318.1 269.1 259.6 210.9 170.2 170.9 172.8 21

22 State and local govt. retirement funds 258.8 258.4 307.8 331.1 337.5 306.9 301.0 292.3 285.1 285.2 288.7 22

23 Federal government retirement funds 4.6 4.6 4.7 5.0 5.1 5.6 5.8 6.0 6.6 6.3 6.2 23

24 Money market mutual funds 267.5 160.1 131.4 235.9 756.2 543.0 465.5 450.3 415.3 402.8 373.4 24

25 Mutual funds 462.7 483.4 499.1 565.4 592.7 639.1 684.3 710.7 760.8 791.1 800.8 25

26 Government-sponsored enterprises 886.5 751.1 714.0 702.9 910.0 924.5 417.0 387.7 375.1 377.0 373.9 26

27 ABS issuers 361.1 330.4 355.3 381.6 353.5 126.0 90.5 53.7 29.2 18.3 5.7 27

28 REITs 44.7 40.6 65.4 88.9 90.5 105.8 109.8 115.4 129.3 143.8 191.1 28

29 Brokers and dealers 107.3 101.0 138.0 290.2 242.6 110.9 127.5 161.9 173.5 149.8 153.2 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.
Z.1, June 9, 2011 91

L.211 Municipal Securities and Loans

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2030.9 2225.8 2403.2 2618.8 2680.2 2808.9 2842.5 2840.0 2856.9 2925.3 2904.8 1

 2 State and local governments 1672.5 1843.9 1996.9 2187.3 2237.9 2346.3 2377.4 2373.3 2388.3 2450.3 2430.2 2

 3 Short-term (1) 100.2 105.9 102.8 120.1 132.6 135.6 134.8 119.6 130.5 150.0 147.7 3

 4 Long-term 1572.3 1737.9 1894.2 2067.2 2105.3 2210.7 2242.7 2253.7 2257.8 2300.3 2282.5 4

 5 Nonprofit organizations (2) 189.1 205.2 224.1 241.2 249.3 264.1 266.0 266.9 266.3 268.2 268.2 5

 6 Nonfinancial corporate business 169.2 176.8 182.2 190.3 193.0 198.5 199.0 199.8 202.4 206.8 206.5 6

 (industrial revenue bonds)

 7 Total assets 2030.9 2225.8 2403.2 2618.8 2680.2 2808.9 2842.5 2840.0 2856.9 2925.3 2904.8 7

 8 Household sector 742.3 820.9 872.0 896.0 903.8 1009.6 1041.4 1043.8 1037.6 1083.8 1078.2 8

 9 Nonfinancial corporate business 31.8 32.1 28.1 29.2 26.2 27.3 26.1 23.4 24.6 23.7 26.5 9

10 Nonfarm noncorporate business 4.3 4.4 5.8 5.3 4.9 4.5 4.5 4.4 4.3 4.3 4.3 10

11 State and local governments 4.7 5.0 5.5 5.7 5.6 5.9 6.1 6.0 6.2 6.3 6.3 11

12 Rest of the world 26.0 29.0 34.4 45.1 50.5 57.0 61.0 65.0 69.0 73.0 75.2 12

13 Commercial banking 140.8 157.7 180.2 192.9 216.7 218.6 219.3 220.4 229.1 246.1 251.8 13

14 Savings institutions 7.4 9.0 11.2 11.0 7.8 9.2 9.6 10.1 10.2 11.1 10.9 14

15 Property-casualty insurance companies 267.8 313.2 335.2 371.3 381.9 369.4 364.0 358.7 353.5 348.4 349.7 15

16 Life insurance companies 30.1 32.5 36.6 41.4 47.1 73.1 81.6 91.0 101.5 113.3 115.1 16

17 State and local govt. retirement funds 1.8 1.7 3.3 2.4 1.4 1.5 1.5 1.5 1.6 1.6 1.6 17

18 Money market mutual funds 313.8 336.8 370.3 471.0 494.6 401.3 370.0 350.8 331.6 334.4 320.7 18

19 Mutual funds 294.3 311.7 344.4 372.2 389.6 480.2 501.5 514.2 532.8 526.6 516.5 19

20 Closed-end funds 89.1 89.4 89.4 91.3 77.9 80.9 81.1 81.3 81.7 80.3 79.6 20

21 Exchange-traded funds 0.0 0.0 0.0 0.6 2.3 5.9 6.5 7.3 7.8 7.6 7.5 21

22 Government-sponsored enterprises 44.6 39.7 36.1 33.3 31.3 29.1 28.0 27.2 26.2 24.9 23.8 22

23 Brokers and dealers 32.0 42.9 50.9 50.1 38.7 35.4 40.3 35.0 39.2 40.0 37.0 23

(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; amounts outstanding end of period, not seasonally adjusted

 1 Total liabilities 7921.8 8693.6 9981.8 11435.0 11016.5 11434.4 11351.9 11258.2 11348.0 11332.2 11342.0 1

 2 Nonfinancial corporate business 2974.5 3031.1 3246.7 3557.9 3762.5 4139.7 4247.8 4305.7 4433.4 4559.6 4653.9 2

 3 Rest of the world (1) 985.0 1011.6 1275.5 1587.1 1237.3 1493.6 1528.9 1527.1 1560.9 1582.1 1596.0 3

 4 Financial sectors 3962.4 4650.9 5459.6 6290.1 6016.7 5801.1 5575.1 5425.4 5353.7 5190.5 5092.0 4

 5 Commercial banking 437.4 494.1 570.8 690.3 821.3 1202.8 1414.0 1395.6 1446.1 1396.6 1392.3 5

 6 Savings institutions 7.6 8.7 10.7 10.4 2.4 2.3 3.2 3.0 2.8 2.7 2.2 6

 7 ABS issuers (net) (3) 2136.2 2717.3 3362.1 3900.7 3575.3 3056.7 2583.0 2464.3 2338.4 2230.5 2147.5 7

 8 Finance companies 817.4 806.5 849.7 974.1 924.5 837.5 858.2 834.6 823.0 818.7 797.1 8

 9 REITs 183.8 216.7 230.6 231.3 176.2 151.2 157.6 160.4 167.5 157.7 160.2 9

10 Brokers and dealers 62.2 62.4 68.8 64.8 97.1 92.9 92.3 100.9 96.1 129.7 128.2 10

11 Funding corporations 317.7 345.3 367.0 418.5 419.9 457.8 466.8 466.6 479.8 454.6 464.5 11

12 Total assets 7921.8 8693.6 9981.8 11435.0 11016.5 11434.4 11351.9 11258.2 11348.0 11332.2 11342.0 12

13 Household sector 1140.7 1298.5 1552.8 2017.1 1956.3 2067.5 1969.9 1853.7 1744.3 1763.1 1718.8 13

14 State and local governments 118.2 127.2 139.4 145.3 142.9 150.9 154.0 152.7 156.4 161.1 161.3 14

15 Federal government 0.0 0.0 0.0 0.0 0.0 0.6 0.6 0.7 0.8 0.9 0.9 15

16 Rest of the world (2) 1558.9 1762.9 2320.5 2719.1 2354.0 2489.3 2458.8 2435.9 2448.9 2446.7 2445.2 16

17 Commercial banking 563.6 687.0 780.3 978.2 979.9 861.8 795.9 769.5 904.1 747.2 726.8 17

18 Savings institutions 59.2 80.2 92.7 142.2 108.5 84.5 81.1 80.9 76.1 73.9 70.9 18

19 Credit unions 25.0 23.5 30.6 34.6 25.7 18.6 18.5 18.4 11.5 0.0 0.0 19

20 Property-casualty insurance companies 245.3 262.8 277.0 282.9 267.5 298.3 304.2 310.2 316.4 322.6 323.8 20

21 Life insurance companies 1756.3 1824.8 1819.5 1862.6 1817.0 1914.7 1949.8 1975.0 2000.9 2027.1 2058.4 21

22 Private pension funds 267.8 290.0 317.6 357.4 400.1 442.9 452.5 462.1 469.2 483.5 497.3 22

23 State and local govt. retirement funds 213.5 227.9 283.4 297.0 312.9 308.6 308.7 311.5 311.9 312.4 314.1 23

24 Federal government retirement funds 3.0 2.9 2.9 3.0 2.9 3.0 3.0 3.1 3.5 3.2 3.1 24

25 Money market mutual funds 261.0 263.2 368.3 376.8 228.0 169.9 176.0 168.6 159.5 154.2 153.7 25

26 Mutual funds 596.8 662.7 767.0 889.9 959.9 1106.1 1166.8 1190.1 1234.5 1264.5 1324.6 26

27 Closed-end funds 67.6 69.3 75.1 74.0 48.7 54.0 55.6 53.6 55.3 58.1 60.7 27

28 Exchange-traded funds 3.3 5.3 7.6 13.8 27.7 55.3 60.4 65.5 73.9 74.0 79.8 28

29 Government-sponsored enterprises 414.8 465.7 481.7 464.4 386.6 310.8 324.8 313.0 308.3 293.9 284.7 29

30 Finance companies 256.0 203.5 184.8 189.4 192.4 198.6 185.6 188.7 181.6 179.0 183.7 30

31 REITs 36.0 53.0 64.6 34.4 14.4 17.6 19.5 20.1 21.9 22.4 24.9 31

32 Brokers and dealers 238.0 315.7 355.5 382.8 123.8 171.3 154.8 154.6 164.3 184.3 193.0 32

33 Funding corporations 96.8 67.5 60.4 170.0 667.3 710.2 711.4 730.4 704.9 760.1 716.5 33

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

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

(3) Liabilities net of assets.
92 Z.1, June 9, 2011

L.213 Corporate Equities (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Issues at market value 18940.1 20636.1 24339.3 25576.0 15638.1 20101.4 20954.4 18841.4 20767.2 22961.6 24246.1 1

 2 Nonfinancial corporate business 12088.6 12686.6 14602.3 15725.8 10014.2 12490.9 12949.9 11681.7 12793.9 14227.8 15087.9 2

 3 Rest of the world (2) 2560.4 3317.7 4329.0 5248.0 2748.4 3977.4 4026.4 3507.5 4078.0 4399.1 4581.3 3

 4 Financial corporations 4291.1 4631.9 5408.0 4602.2 2875.4 3633.2 3978.1 3652.2 3895.3 4334.8 4576.9 4

 5 Holdings at market value 18940.1 20636.1 24339.3 25576.0 15638.1 20101.4 20954.4 18841.4 20767.2 22961.6 24246.1 5

 6 Household sector 7483.9 8093.0 9643.7 9627.0 5738.8 7429.3 7676.2 6955.9 7500.8 8239.9 8791.9 6

 7 State and local governments 90.0 96.8 106.0 111.6 86.2 122.3 117.2 108.7 111.5 115.1 115.2 7

 8 Federal government 0.0 0.0 0.0 0.0 188.7 67.3 48.0 45.5 44.5 41.3 55.4 8

 9 Rest of the world (3) 1904.6 2039.1 2448.1 2812.2 1806.7 2427.9 2589.4 2412.2 2728.9 3071.3 3286.0 9

10 Monetary authority 0.0 0.0 0.0 0.0 0.0 25.1 25.4 25.7 26.1 26.4 0.0 10

11 Commercial banking 20.3 24.1 35.3 41.5 6.7 30.3 34.7 21.8 29.5 38.2 42.1 11

12 Savings institutions 28.2 26.2 24.9 25.3 22.7 22.2 21.8 21.7 19.5 19.7 21.9 12

13 Property-casualty insurance companies 196.6 199.5 227.0 236.2 193.3 219.8 216.7 193.4 204.8 219.2 232.2 13

14 Life insurance companies 1053.9 1161.8 1364.8 1464.6 1001.7 1208.5 1275.8 1169.4 1286.6 1402.6 1494.6 14

15 Private pension funds 2338.5 2441.7 2724.8 2673.3 1599.7 1835.7 1918.2 1673.9 1832.6 2012.3 2101.0 15

16 State and local govt. retirement funds 1600.9 1715.8 1926.1 2013.7 1237.9 1549.8 1636.0 1450.8 1604.6 1782.5 1861.9 16

17 Federal government retirement funds 99.2 112.6 138.1 149.1 85.6 119.4 127.8 112.6 115.8 133.8 142.2 17

18 Mutual funds 3693.6 4175.7 4989.6 5476.9 3014.1 4136.2 4351.8 3799.5 4299.9 4762.7 4958.5 18

19 Closed-end funds 82.3 105.6 122.5 146.2 72.7 88.4 90.3 83.5 93.9 99.2 103.6 19

20 Exchange-traded funds 219.0 285.8 402.0 573.7 473.9 669.9 687.2 642.5 741.5 853.9 908.9 20

21 Brokers and dealers 129.1 158.3 186.4 224.8 109.2 124.2 112.4 98.4 100.6 117.2 130.9 21

22 Funding corporations 0.0 0.0 0.0 0.0 0.0 25.1 25.4 25.7 26.1 26.4 0.0 22

 Memo:

23 Market value of domestic corporations (4) 15704.1 16518.8 19012.2 19080.4 12011.1 14944.2 15739.5 14246.9 15473.4 17188.7 18225.3 23

(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 11, 12, 13, 19, 20, 21, and 22; line 1 excludes intercorporate holdings of nonfinancial corporations.

L.214 Mutual Fund Shares (1)

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

 1 Shares at market value 5436.3 6048.9 7068.3 7829.0 5435.3 6961.6 7295.0 6764.2 7401.8 7934.5 8338.6 1

 2 Holdings at market value 5436.3 6048.9 7068.3 7829.0 5435.3 6961.6 7295.0 6764.2 7401.8 7934.5 8338.6 2

 3 Household sector 3427.7 3669.1 4188.1 4596.8 3325.9 4177.2 4359.0 4055.2 4412.6 4717.2 5050.4 3

 4 Nonfinancial corporate business 130.1 140.0 180.7 191.1 125.8 190.2 199.2 188.1 206.6 222.9 231.2 4

 5 State and local governments 27.5 29.6 32.5 33.8 33.3 35.1 35.9 30.6 31.4 32.5 32.6 5

 6 Rest of the world 195.8 242.0 316.8 373.5 256.2 321.7 337.1 312.5 342.0 366.6 385.3 6

 7 Commercial banking 18.1 17.4 24.5 29.6 19.6 46.1 43.2 38.7 41.2 45.0 47.1 7

 8 Credit unions 3.1 2.2 2.1 2.1 2.0 1.3 1.6 1.6 1.6 1.5 1.7 8

 9 Property-casualty insurance companies 5.2 5.7 6.9 6.8 4.4 5.3 5.4 5.0 5.4 5.7 5.8 9

10 Life insurance companies 114.4 109.0 148.8 188.4 121.0 140.8 144.8 134.3 144.1 155.7 158.7 10

11 Private pension funds 1278.2 1585.4 1880.4 2110.6 1366.0 1817.3 1929.6 1786.0 1982.2 2126.6 2153.5 11

12 State and local govt. retirement funds 235.9 248.4 287.5 296.4 181.1 226.7 239.3 212.2 234.8 260.8 272.4 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
Z.1, June 9, 2011 93

L.215 Bank Loans Not Elsewhere Classified

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 Total loans by commercial

 1 banking, flow of funds basis 4905.9 5473.7 6151.6 6810.3 7187.3 6672.5 6922.5 6837.4 6782.6 6768.3 6652.1 1

 - Loans elsewhere classified:

 2 Open market paper 0.0 0.0 0.0 0.0 15.7 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Mortgages 2595.6 2958.0 3403.1 3644.4 3841.4 3818.7 3761.3 3706.8 3674.4 3651.2 3550.8 3

 4 Consumer credit 704.3 707.0 741.2 804.1 878.6 855.3 1149.2 1133.7 1115.2 1098.7 1058.9 4

 5 Security credit 195.8 230.7 302.2 334.5 221.0 219.6 232.4 243.1 243.2 242.3 239.0 5

 6 = Banking sector total bank loans n.e.c. 1410.1 1577.9 1705.2 2027.3 2230.6 1778.9 1779.6 1753.8 1749.7 1776.0 1803.3 6

 7 U.S.-chartered commercial banks 1150.5 1249.3 1312.2 1532.9 1670.8 1338.4 1340.2 1332.3 1328.6 1350.7 1354.7 7

 8 Foreign banking offices in U.S. 234.0 294.7 361.8 466.8 531.9 406.5 403.9 387.3 386.7 390.4 405.7 8

 9 Bank holding companies 5.3 8.1 5.6 6.3 8.2 14.6 17.1 18.5 18.6 18.9 26.9 9

10 Banks in U.S.-affiliated areas 20.3 25.9 25.6 21.4 19.7 19.4 18.4 15.7 15.9 16.1 16.0 10

11 + Loans from Federal Reserve banks 0.0 0.0 0.0 0.0 490.4 142.8 137.4 127.5 106.0 98.1 69.1 11

12 = Total bank loans n.e.c. 1410.1 1577.9 1705.2 2027.3 2721.1 1921.8 1917.0 1881.3 1855.7 1874.1 1872.4 12

13 Total liabilities 1410.1 1577.9 1705.2 2027.3 2721.1 1921.8 1917.0 1881.3 1855.7 1874.1 1872.4 13

14 Nonfinancial sectors 1160.4 1309.4 1499.0 1750.2 1947.9 1650.2 1671.0 1650.5 1655.5 1692.8 1703.4 14

15 Households 26.7 36.4 86.4 99.7 117.7 147.7 226.3 237.4 256.2 263.1 247.6 15

16 Corporate business 542.7 508.7 518.3 609.9 663.6 542.6 539.0 525.2 519.2 528.8 538.3 16

17 Nonfarm noncorporate business 473.4 629.9 742.8 882.3 1000.0 804.6 753.9 729.9 714.4 727.4 736.5 17

18 Farm business 47.7 49.9 53.2 55.5 58.7 58.5 54.6 57.4 58.1 58.3 53.9 18

19 Rest of the world 69.9 84.4 98.3 102.8 107.9 96.8 97.2 100.6 107.7 115.1 127.1 19

20 Foreign official institutions 5.5 2.6 1.9 1.9 2.6 3.2 3.0 3.3 3.5 4.3 4.2 20

21 Foreign banks 13.4 18.1 21.9 30.2 33.0 27.9 30.4 33.1 34.1 39.7 45.7 21

22 Other foreign 51.0 63.7 74.4 70.8 72.4 65.8 63.8 64.3 70.0 71.2 77.1 22

23 Financial sectors 249.7 268.6 206.2 277.1 773.2 271.6 246.1 230.8 200.2 181.4 169.0 23

24 Savings institutions 87.9 93.1 48.6 62.0 75.0 11.0 11.3 8.8 10.9 9.8 11.2 24

25 Finance companies 136.9 142.1 129.2 182.0 174.9 144.5 125.9 120.0 95.0 79.6 88.2 25

26 REITs 24.9 33.3 28.4 33.2 32.9 20.8 18.6 17.1 18.0 18.6 19.6 26

27 Brokers and dealers 0.0 0.0 0.0 0.0 45.5 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Funding corporations 0.0 0.0 0.0 0.0 444.9 95.3 90.2 85.0 76.3 73.4 49.9 28
94 Z.1, June 9, 2011

L.216 Other Loans and Advances

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances 1742.2 1901.2 2071.6 2605.3 2711.7 2275.1 2146.5 2098.0 2028.9 1996.3 1954.5 1

 2 U.S. government loans 113.7 106.7 107.3 105.2 111.3 177.4 181.0 180.5 181.5 181.0 183.2 2

 3 Liab.: Household sector 12.2 11.5 12.9 12.5 12.8 12.6 12.6 12.3 12.3 11.6 11.6 3

 4 Nonfinancial corporate business 8.4 9.2 10.4 10.2 14.5 73.9 73.6 69.9 70.7 69.5 70.9 4

 5 Nonfarm noncorporate business 40.8 37.9 42.7 43.8 46.0 49.2 50.0 50.3 49.7 49.5 50.0 5

 6 Farm business 4.0 3.8 3.7 3.7 3.7 4.2 4.3 4.5 4.6 4.6 4.6 6

 7 State and local governments 10.0 10.6 11.2 11.9 12.7 13.5 13.7 13.8 13.9 14.4 14.5 7

 8 Rest of the world 38.3 33.7 26.4 23.1 21.6 21.9 22.2 22.0 22.0 22.2 22.3 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Funding corporations 0.0 0.0 0.0 0.0 0.0 2.0 4.7 7.8 8.3 9.2 9.3 11

12 Foreign loans to U.S. corporate business 131.2 162.5 168.8 271.5 207.3 182.4 185.6 197.3 163.1 161.1 162.9 12

13 Liab.: Nonfinancial corporate business 131.2 162.5 168.8 271.5 207.3 182.4 185.6 197.3 163.1 161.1 162.9 13

 Customers’ liability on acceptances

14 outstanding (bank asset) 4.0 4.0 0.4 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Liab.: Nonfinancial corporate business 3.8 3.8 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Rest of the world 0.3 0.2 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Savings institution loans to business 57.6 61.5 67.5 73.7 80.1 65.6 65.3 64.4 71.1 72.0 72.2 17

18 Liab.: Nonfinancial corporate business 28.8 30.7 33.7 36.9 40.0 32.8 32.6 32.2 35.6 36.0 36.1 18

19 Nonfarm noncorporate business 28.8 30.7 33.7 36.9 40.0 32.8 32.6 32.2 35.6 36.0 36.1 19

20 Credit unions loans to business 24.9 25.9 26.8 26.9 29.6 32.3 31.3 32.5 33.2 33.1 32.2 20

21 Liab.: Nonfinancial corporate business 12.5 13.0 13.4 13.4 14.8 16.2 15.6 16.3 16.6 16.5 16.1 21

22 Nonfarm noncorporate business 12.5 13.0 13.4 13.4 14.8 16.2 15.6 16.3 16.6 16.5 16.1 22

23 Policy loans (Household liability) 106.8 107.6 110.9 114.5 120.4 121.1 121.7 122.4 123.5 124.5 124.8 23

24 Asset: Federal government 0.7 0.7 0.6 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 24

25 Life insurance companies 106.1 106.9 110.2 113.9 119.8 120.6 121.2 121.9 123.0 124.0 124.3 25

26 Government-sponsored enterprise loans (1) 619.4 671.8 704.9 942.6 980.7 695.9 634.5 599.1 561.6 551.3 504.8 26

27 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Noncorporate business (FCS) 18.1 20.0 24.2 28.5 53.4 56.4 54.3 55.4 56.9 57.7 46.4 28

29 Farm business (FCS) 25.5 31.6 39.3 47.0 26.9 23.6 23.4 21.2 25.0 29.6 25.2 29

30 Commercial banks (FHLB and SLMA) 244.1 268.5 348.5 455.2 526.3 402.0 357.0 327.6 289.0 277.9 256.4 30

31 Savings institutions (FHLB and SLMA) 309.3 325.5 259.8 350.9 278.7 139.1 128.8 124.4 120.2 114.9 107.6 31

32 Credit unions (FHLB) 11.4 14.7 18.9 32.3 40.6 26.5 25.4 25.0 25.2 26.1 23.7 32

33 Life insurance companies (FHLB) 11.1 11.5 14.2 28.7 54.9 48.3 45.6 45.6 45.3 45.1 45.5 33

34 Securitized loans held by ABS issuers 111.4 93.9 97.7 93.7 78.1 54.4 37.7 37.2 40.6 37.2 33.4 34

35 Liab.: Nonfinancial corporate business 111.4 93.9 97.7 93.7 78.1 54.4 37.7 37.2 40.6 37.2 33.4 35

36 Finance company loans to business 451.5 479.2 498.0 523.0 539.9 448.9 447.5 439.2 445.7 441.0 439.7 36

37 Liab.: Nonfinancial corporate business 406.4 431.3 448.2 470.7 485.9 404.0 402.8 395.3 401.2 396.9 395.8 37

38 Nonfarm noncorporate business 45.2 47.9 49.8 52.3 54.0 44.9 44.8 43.9 44.6 44.1 44.0 38

39 Loans to nonfinancial corporate business (2) 121.5 188.1 289.2 453.8 564.3 497.2 442.0 425.2 408.5 395.1 401.4 39

40 Asset: Household sector 5.9 8.7 9.1 17.6 29.7 24.5 29.6 29.6 29.7 29.7 29.7 40

41 Life insurance companies 11.7 15.9 22.4 31.9 46.3 32.9 21.7 20.8 20.0 19.2 19.5 41

42 Mutual funds 26.0 36.5 46.3 82.4 94.8 96.1 85.0 85.2 85.4 85.5 85.5 42

43 ABS issuers 56.7 94.5 155.7 248.3 301.7 274.3 221.3 208.3 195.4 185.0 190.2 43

44 Brokers and dealers 14.2 22.0 41.7 52.8 55.9 43.2 60.1 57.4 54.8 52.6 53.7 44

45 Funding corporations 7.0 10.6 14.1 20.8 35.9 26.1 24.2 23.8 23.4 23.0 22.9 45

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

(2) Syndicated loans from domestic entities, excluding banks and finance companies which are included elsewhere.
Z.1, June 9, 2011 95

L.217 Total Mortgages

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total mortgages 10639.6 12073.4 13463.9 14515.9 14605.7 14320.3 14147.2 14034.6 13914.2 13819.8 13724.7 1

 2 Home 8271.1 9385.4 10457.0 11167.5 11069.4 10861.5 10726.7 10663.9 10587.7 10531.2 10457.6 2

 3 Multifamily residential 604.5 666.8 707.5 786.8 837.3 848.9 843.0 839.5 841.1 840.1 840.2 3

 4 Commercial 1668.2 1916.5 2191.3 2448.9 2565.4 2475.4 2443.5 2397.8 2352.6 2316.3 2294.6 4

 5 Farm 95.7 104.8 108.0 112.7 133.6 134.5 134.0 133.4 132.8 132.3 132.3 5

 6 Total liabilities 10639.6 12073.4 13463.9 14515.9 14605.7 14320.3 14147.2 14034.6 13914.2 13819.8 13724.7 6

 7 Household sector 8020.9 9082.5 10093.0 10782.4 10749.5 10586.8 10463.4 10410.6 10338.8 10284.1 10215.2 7

 8 Nonfinancial business 2487.3 2845.4 3218.9 3576.7 3692.7 3566.7 3516.8 3456.5 3407.1 3361.9 3332.9 8

 9 Corporate 555.0 733.1 822.0 870.9 795.1 763.8 749.9 729.8 710.7 685.8 667.5 9

10 Nonfarm noncorporate 1836.6 2007.5 2288.9 2593.1 2764.0 2668.4 2632.9 2593.3 2563.6 2543.8 2533.1 10

11 Farm 95.7 104.8 108.0 112.7 133.6 134.5 134.0 133.4 132.8 132.3 132.3 11

12 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 REITs 131.4 145.5 152.1 156.7 163.5 166.9 167.1 167.6 168.3 173.8 176.6 13

14 Total assets 10639.6 12073.4 13463.9 14515.9 14605.7 14320.3 14147.2 14034.6 13914.2 13819.8 13724.7 14

15 Household sector 131.3 139.4 122.1 109.8 111.8 102.5 101.0 97.7 94.8 91.6 89.7 15

16 Nonfinancial corporate business 66.6 68.3 59.8 41.4 33.6 30.3 29.5 28.7 27.8 27.0 26.2 16

17 Nonfarm noncorporate business 30.8 36.2 34.6 42.1 39.1 36.1 35.5 35.0 34.5 34.3 34.2 17

18 State and local governments 141.2 151.9 166.4 172.8 169.7 179.0 182.8 181.2 182.8 184.1 185.7 18

19 Federal government 74.2 76.6 80.3 82.4 95.8 108.4 107.1 108.4 106.6 106.6 107.8 19

20 Commercial banking 2595.6 2958.0 3403.1 3644.4 3841.4 3818.7 3761.3 3706.8 3674.4 3651.2 3550.8 20

21 Savings institutions (1) 1057.4 1152.7 1076.8 1094.0 860.6 633.3 629.3 619.3 617.8 614.8 600.3 21

22 Credit unions 188.3 219.7 249.7 281.5 314.7 317.9 320.1 322.6 324.4 320.8 322.3 22

23 Property-casualty insurance companies 2.4 2.7 3.5 4.8 5.0 4.4 4.3 4.2 4.2 4.1 4.1 23

24 Life insurance companies 273.3 285.5 303.8 326.2 342.4 326.1 321.4 317.9 318.2 317.5 318.4 24

25 Private pension funds 10.0 9.8 9.5 10.2 11.1 13.6 14.6 15.7 15.2 15.0 14.7 25

26 State and local govt. retirement funds 15.1 16.4 14.4 9.7 9.4 9.3 9.4 9.3 9.4 9.4 9.2 26

27 Government-sponsored enterprises (1) 629.0 588.8 607.2 643.1 701.4 707.7 5104.4 5084.4 5035.8 5021.0 5053.1 27

28 Agency- and GSE-backed mortgage pools 3384.0 3548.5 3841.1 4464.4 4961.4 5376.7 980.2 1046.5 1096.0 1139.5 1187.0 28

29 ABS issuers 1446.1 2131.4 2761.5 2936.0 2584.5 2199.7 2102.2 2030.1 1957.3 1887.0 1837.5 29

30 Finance companies 476.0 541.4 594.4 531.9 447.9 397.4 386.9 371.1 361.2 344.2 333.0 30

31 REITs 118.1 146.1 135.8 121.3 75.9 59.2 57.4 55.7 53.8 51.6 50.7 31

(1) FHLB loans to savings institutions are included in other loans and advances.
96 Z.1, June 9, 2011

L.218 Home Mortgages (1)

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 8271.1 9385.4 10457.0 11167.5 11069.4 10861.5 10726.7 10663.9 10587.7 10531.2 10457.6 1

 2 Household sector 7838.2 8877.3 9866.5 10540.2 10495.7 10342.1 10221.9 10173.7 10106.1 10055.4 9987.9 2

 3 Nonfinancial corporate business 23.5 31.1 39.4 42.2 32.7 20.3 18.4 15.9 14.8 13.6 12.4 3

 4 Nonfarm noncorporate business 409.4 477.0 551.2 585.1 540.9 499.1 486.4 474.2 466.8 462.3 457.3 4

 5 Total assets 8271.1 9385.4 10457.0 11167.5 11069.4 10861.5 10726.7 10663.9 10587.7 10531.2 10457.6 5

 6 Household sector 112.9 117.9 102.9 90.8 91.2 83.2 81.2 79.2 77.2 75.2 73.2 6

 7 Nonfinancial corporate business 39.9 40.9 35.9 25.0 20.2 18.2 17.7 17.2 16.7 16.2 15.9 7

 8 Nonfarm noncorporate business 11.3 13.3 12.7 15.4 14.3 13.2 13.0 12.8 12.6 12.5 12.5 8

 9 State and local governments 72.0 77.5 84.9 88.5 87.0 91.9 93.8 93.0 93.6 93.9 94.6 9

10 Federal government 13.6 13.2 13.3 13.7 16.4 22.1 23.2 23.9 23.6 23.9 24.3 10

11 Commercial banking 1581.6 1792.1 2082.1 2210.5 2248.1 2261.3 2222.6 2198.6 2196.6 2207.2 2130.7 11

12 Savings institutions 874.2 953.8 867.8 879.0 666.3 448.6 444.5 438.7 437.0 430.5 419.4 12

13 Credit unions 188.3 219.7 249.7 281.5 314.7 317.9 320.1 322.6 324.4 320.8 322.3 13

14 Life insurance companies 8.1 7.5 10.3 9.4 8.8 5.6 4.7 4.6 4.6 4.9 5.0 14

15 Private pension funds 1.4 1.4 1.3 1.2 1.3 2.0 2.1 2.1 2.1 2.1 2.1 15

16 State and local govt. retirement funds 5.4 5.9 5.2 3.5 3.4 3.3 3.4 3.4 3.4 3.4 3.3 16

17 Government-sponsored enterprises 508.6 453.9 457.6 447.9 455.9 444.1 4795.7 4776.3 4725.7 4705.8 4738.3 17

18 Agency- and GSE-backed mortgage pools 3277.3 3446.4 3749.1 4371.8 4864.0 5266.5 920.7 982.5 1028.5 1068.8 1112.5 18

19 ABS issuers 1051.5 1624.9 2142.3 2177.5 1865.7 1528.4 1441.7 1383.0 1324.8 1264.5 1211.3 19

20 Finance companies 422.0 489.8 538.1 472.7 375.4 327.7 317.0 303.3 295.3 280.6 272.0 20

21 REITs 102.9 127.4 103.7 79.2 36.7 27.5 25.4 22.8 21.7 21.0 20.3 21

 Memo:

22 Home equity loans included above (2) 775.7 914.9 1066.2 1130.9 1114.3 1032.1 1013.3 995.6 975.4 949.7 925.3 22

23 Commercial banking 483.5 549.0 653.6 692.3 776.1 761.7 751.5 741.3 726.9 709.6 692.3 23

24 Savings institutions 121.2 151.6 137.6 180.5 119.5 80.0 78.4 76.6 75.5 74.0 72.3 24

25 Credit unions 63.9 75.9 86.9 94.1 98.7 94.6 92.7 91.8 90.3 88.2 86.1 25

26 ABS issuers 23.3 40.4 80.5 69.5 45.0 30.3 27.4 25.3 23.7 21.8 20.2 26

27 Finance companies 83.7 98.0 107.6 94.5 75.1 65.5 63.4 60.7 59.1 56.1 54.4 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; amounts outstanding end of period, not seasonally adjusted

 1 Total liabilities 604.5 666.8 707.5 786.8 837.3 848.9 843.0 839.5 841.1 840.1 840.2 1

 2 Nonfinancial corporate business 32.4 34.4 36.5 38.3 39.7 40.9 41.4 41.2 40.7 40.3 39.7 2

 3 Nonfarm noncorporate business 547.2 607.6 645.9 725.8 772.6 781.1 774.5 771.3 772.8 772.1 773.4 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 24.9 24.8 25.1 22.7 25.1 26.8 27.1 27.1 27.7 27.7 27.1 5

 6 Total assets 604.5 666.8 707.5 786.8 837.3 848.9 843.0 839.5 841.1 840.1 840.2 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 1.0 1.1 0.9 0.6 0.5 0.5 0.5 0.4 0.4 0.4 0.2 8

 9 Nonfarm noncorporate business 10.4 12.3 11.7 14.3 13.3 12.3 12.1 11.9 11.7 11.7 11.6 9

10 State and local governments 56.5 60.8 66.6 69.4 68.3 72.0 73.6 72.9 73.6 74.1 74.9 10

11 Federal government 15.0 14.9 14.8 14.4 14.5 14.7 14.5 14.5 14.3 14.4 14.3 11

12 Commercial banking 118.7 138.7 157.6 168.4 215.1 211.0 209.7 207.2 204.3 197.1 193.8 12

13 Savings institutions 87.5 98.4 95.8 92.7 65.2 59.9 60.3 58.7 59.5 61.2 61.2 13

14 Life insurance companies 40.5 42.4 46.1 51.8 51.8 48.5 47.9 47.4 47.4 47.2 47.4 14

15 Private pension funds 2.2 2.1 2.0 2.1 2.4 2.7 3.0 3.3 3.2 3.1 3.1 15

16 State and local govt. retirement funds 4.5 4.9 4.3 2.9 2.8 2.8 2.8 2.8 2.8 2.8 2.8 16

17 Government-sponsored enterprises 82.5 93.0 105.4 147.7 187.7 204.4 249.7 249.2 251.3 256.5 256.1 17

18 Agency- and GSE-backed mortgage pools 105.7 101.3 88.8 88.1 92.8 105.7 56.1 60.1 63.7 66.9 71.3 18

19 ABS issuers 72.9 89.4 103.4 124.0 113.2 107.4 106.5 104.8 102.7 98.7 98.0 19

20 Finance companies 5.6 5.6 5.1 5.1 5.8 5.1 4.7 4.5 4.4 4.1 3.8 20

21 REITs 1.6 1.9 5.0 5.2 3.9 1.9 1.8 1.8 1.7 1.7 1.6 21
Z.1, June 9, 2011 97

L.220 Commercial Mortgages

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 1668.2 1916.5 2191.3 2448.9 2565.4 2475.4 2443.5 2397.8 2352.6 2316.3 2294.6 1

 2 Household sector 182.6 205.3 226.5 242.2 253.8 244.7 241.4 236.9 232.6 228.8 227.3 2

 3 Nonfinancial corporate business 499.1 667.5 746.1 790.4 722.7 702.6 690.1 672.7 655.3 631.9 615.4 3

 4 Nonfarm noncorporate business 880.0 923.0 1091.8 1282.2 1450.5 1388.1 1372.0 1347.7 1324.0 1309.5 1302.4 4

 5 REITs 106.5 120.7 127.0 134.0 138.4 140.1 140.0 140.5 140.7 146.1 149.5 5

 6 Total assets 1668.2 1916.5 2191.3 2448.9 2565.4 2475.4 2443.5 2397.8 2352.6 2316.3 2294.6 6

 7 Household sector 12.9 14.9 17.0 19.1 20.0 19.2 18.8 18.2 17.5 16.7 15.8 7

 8 Nonfinancial corporate business 25.6 26.3 23.0 15.8 13.0 11.7 11.4 11.0 10.7 10.4 10.1 8

 9 Nonfarm noncorporate business 8.5 9.9 9.5 11.5 10.7 9.9 9.7 9.6 9.5 9.4 9.4 9

10 State and local governments 11.3 12.2 13.3 13.9 13.7 14.4 14.7 14.6 14.9 15.4 15.4 10

11 Federal government 42.4 45.2 48.9 51.0 61.4 67.8 65.4 66.0 64.5 64.1 64.9 11

12 Commercial banking 860.7 989.4 1123.2 1223.6 1328.5 1296.0 1278.9 1251.1 1223.9 1197.4 1177.1 12

13 Savings institutions 95.1 100.0 112.4 121.5 128.1 123.9 123.6 121.1 120.5 122.2 118.8 13

14 Property-casualty insurance companies 2.4 2.7 3.5 4.8 5.0 4.4 4.3 4.2 4.2 4.1 4.1 14

15 Life insurance companies 214.1 224.3 235.4 252.2 267.1 257.7 254.6 251.8 252.0 251.3 252.1 15

16 Private pension funds 6.4 6.3 6.2 6.8 7.4 8.9 9.5 10.3 9.9 9.7 9.5 16

17 State and local govt. retirement funds 5.1 5.6 4.9 3.3 3.2 3.2 3.2 3.2 3.2 3.2 3.1 17

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

19 ABS issuers 321.8 417.1 515.8 634.5 605.5 563.9 554.1 542.3 529.8 523.8 528.2 19

20 Finance companies 48.4 46.0 51.1 54.0 66.6 64.6 65.2 63.3 61.6 59.5 57.2 20

21 REITs 13.6 16.8 27.1 37.0 35.3 29.8 30.3 31.1 30.4 28.9 28.8 21

L.221 Farm Mortgages (1)

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

 1 Total liabilities (Farm business) 95.7 104.8 108.0 112.7 133.6 134.5 134.0 133.4 132.8 132.3 132.3 1

 2 Total assets 95.7 104.8 108.0 112.7 133.6 134.5 134.0 133.4 132.8 132.3 132.3 2

 3 Household sector 5.5 6.7 2.2 -0.0 0.7 0.1 1.0 0.3 0.0 -0.3 0.7 3

 4 Nonfarm noncorporate business 0.6 0.7 0.7 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.7 4

 5 State and local governments 1.4 1.5 1.7 1.0 0.7 0.7 0.7 0.7 0.7 0.7 0.7 5

 6 Federal government 3.2 3.2 3.2 3.3 3.5 3.9 4.0 4.0 4.2 4.3 4.2 6

 7 Commercial banking 34.6 37.9 40.1 41.9 49.7 50.3 50.1 49.9 49.7 49.5 49.3 7

 8 Savings institutions 0.6 0.6 0.7 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 8

 9 Life insurance companies 10.7 11.3 12.0 12.8 14.7 14.2 14.2 14.1 14.1 14.0 13.9 9

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

11 Government-sponsored enterprises 38.0 42.0 44.2 47.6 57.9 59.2 59.0 58.9 58.8 58.7 58.7 11

12 Agency- and GSE-backed mortgage pools 0.9 0.8 3.2 4.5 4.7 4.5 3.3 3.8 3.8 3.8 3.2 12

(1) Excludes mortgages on farm houses.
98 Z.1, June 9, 2011

L.222 Consumer Credit

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities (Households) 2220.1 2320.6 2416.0 2555.3 2594.1 2478.9 2406.1 2387.5 2407.8 2434.7 2404.0 1

 2 Total assets 2220.1 2320.6 2416.0 2555.3 2594.1 2478.9 2406.1 2387.5 2407.8 2434.7 2404.0 2

 3 Nonfinancial corporate business 59.2 59.6 57.6 58.6 59.8 57.2 53.5 52.8 52.4 56.0 52.8 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government 86.1 89.8 91.7 98.4 111.0 186.0 209.8 222.6 280.3 316.4 355.2 5

 6 Commercial banking 704.3 707.0 741.2 804.1 878.6 855.3 1149.2 1133.7 1115.2 1098.7 1058.9 6

 7 Savings institutions 91.3 109.1 95.5 90.8 86.3 77.5 78.0 80.6 82.1 86.8 84.7 7

 8 Credit unions 215.4 228.6 234.5 235.7 236.2 237.2 228.0 225.8 224.9 226.5 219.7 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 ABS issuers 571.5 609.9 661.1 683.7 646.4 577.9 150.7 144.8 136.6 131.7 122.5 10

11 Finance companies 492.3 516.5 534.4 584.1 575.8 487.8 536.9 527.2 516.3 518.6 510.2 11

L.223 Trade Credit

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

 1 Total trade payables 2662.8 3003.6 3195.9 3398.0 3223.9 3149.0 3230.1 3301.2 3358.6 3382.2 3440.3 1

 2 Household sector 173.3 186.3 199.9 214.5 230.2 241.2 246.3 251.3 254.9 259.3 262.5 2

 3 Nonfinancial corporate business 1499.9 1699.4 1813.0 1898.9 1669.0 1579.0 1627.6 1685.5 1729.8 1776.7 1811.4 3

 4 Nonfarm noncorporate business 277.4 329.4 349.4 378.7 366.8 332.8 326.4 320.8 315.6 313.2 311.9 4

 5 Farm business 9.1 6.3 -0.7 -4.8 19.8 24.5 27.8 26.4 21.0 15.5 23.7 5

 6 State and local governments 449.9 482.0 516.4 553.5 593.0 631.4 641.1 650.8 660.6 670.5 680.5 6

 7 Federal government 169.0 202.7 208.9 238.2 260.7 208.9 222.2 232.5 232.4 233.5 239.7 7

 8 Rest of the world 48.2 54.5 60.7 73.1 63.2 61.2 76.6 81.9 89.3 95.4 92.2 8

 9 Brokers and dealers 36.0 43.1 48.3 45.8 21.2 70.1 62.2 52.0 55.1 18.1 18.4 9

10 Total trade receivables 2622.4 2993.6 3036.7 3285.2 3103.1 3050.8 3110.7 3205.7 3240.6 3194.3 3273.6 10

11 Nonfinancial corporate business 1830.6 2108.2 2090.0 2253.0 2081.1 2114.6 2170.0 2267.7 2306.0 2257.1 2334.8 11

12 Nonfarm noncorporate business 364.3 430.9 470.9 525.6 522.7 481.9 474.2 467.5 461.3 458.4 456.8 12

13 State and local governments 134.4 144.7 158.5 165.3 162.5 171.5 175.1 173.7 177.9 183.2 183.4 13

14 Federal government 61.8 71.0 59.4 60.6 64.7 43.6 45.0 42.0 42.7 43.4 44.2 14

15 Rest of the world 49.0 56.9 62.8 83.6 89.9 95.0 106.4 114.0 111.5 116.7 116.7 15

16 Property-casualty insurance companies 79.6 82.1 87.0 85.4 86.7 83.0 84.8 86.7 87.1 83.8 84.4 16

17 ABS issuers 102.6 99.8 108.3 111.7 95.5 61.3 55.1 54.1 54.2 51.8 53.3 17

18 Discrepancy 40.4 10.0 159.2 112.8 120.7 98.2 119.4 95.5 118.1 187.8 166.7 18

L.224 Security Credit

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

 1 Total liabilities 1038.2 1038.4 1249.9 1526.4 1128.5 1091.2 1108.8 1146.1 1173.7 1214.8 1258.0 1

 2 Household sector 264.0 232.4 292.1 325.5 164.8 203.0 196.4 217.0 233.7 278.2 315.7 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 774.2 806.0 957.8 1200.9 963.6 888.2 912.4 929.1 940.0 936.6 942.3 4

 5 Customer credit balances (HH) 578.3 575.3 655.7 866.4 742.7 668.6 680.0 686.0 696.8 694.3 703.3 5

 6 From U.S.-chartered commercial banks 102.2 95.6 116.5 145.9 158.6 158.0 160.0 164.5 144.1 152.3 152.1 6

 7 From foreign banking offices in U.S. 93.7 135.1 185.6 188.6 62.3 61.6 72.3 78.6 99.2 90.1 86.9 7

 8 Total assets 1038.2 1038.4 1249.9 1526.4 1128.5 1091.2 1108.8 1146.1 1173.7 1214.8 1258.0 8

 9 Household sector 578.3 575.3 655.7 866.4 742.7 668.6 680.0 686.0 696.8 694.3 703.3 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Commercial banking 195.8 230.7 302.2 334.5 221.0 219.6 232.4 243.1 243.2 242.3 239.0 11

12 Brokers and dealers 264.0 232.4 292.1 325.5 164.8 203.0 196.4 217.0 233.7 278.2 315.7 12
Z.1, June 9, 2011 99

L.225 Life Insurance and Pension Fund Reserves

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 Life insurance reserves:

 1 Total liabilities 1060.4 1082.6 1163.7 1201.5 1179.8 1242.1 1249.5 1235.7 1261.9 1278.3 1297.8 1

 2 Federal government 41.6 42.7 44.2 45.4 46.4 47.5 47.4 47.6 47.8 48.4 48.5 2

 3 Life insurance companies 1018.8 1039.9 1119.5 1156.1 1133.4 1194.5 1202.1 1188.1 1214.1 1229.9 1249.3 3

 4 Total assets (Households) 1060.4 1082.6 1163.7 1201.5 1179.8 1242.1 1249.5 1235.7 1261.9 1278.3 1297.8 4

 Pension fund reserves:

 5 Total liabilities 10635.5 11460.1 12750.6 13390.7 10408.5 11914.5 12291.0 11610.2 12322.1 13092.4 13419.2 5

 6 Life insurance companies 2027.9 2197.4 2332.4 2450.8 2184.6 2323.0 2371.5 2305.3 2406.1 2504.7 2566.0 6

 7 Private pension funds (1) 4963.0 5427.8 6120.5 6444.8 4588.0 5507.4 5745.0 5352.4 5765.0 6148.3 6308.9 7

 8 State and local govt. retirement funds 2621.3 2763.4 3156.6 3297.9 2414.7 2759.8 2856.7 2641.4 2815.4 3024.0 3131.3 8

 9 Federal government retirement funds (2) 1023.3 1071.5 1141.1 1197.2 1221.2 1324.4 1317.7 1311.0 1335.6 1415.4 1413.1 9

10 Total assets (Households) (3) 10635.5 11460.1 12750.6 13390.7 10408.5 11914.5 12291.0 11610.2 12322.1 13092.4 13419.2 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; amounts outstanding end of period, not seasonally adjusted

 1 Total taxes payable by all businesses 219.2 214.5 237.0 167.7 44.0 39.0 48.5 43.5 55.7 51.1 71.5 1

 2 Nonfinancial corporate business 88.0 86.2 85.4 35.8 39.0 35.7 49.3 44.2 49.4 39.2 51.6 2

 3 Nonfarm noncorporate business 78.0 86.7 95.7 99.5 106.2 98.4 96.9 95.6 94.4 93.9 93.6 3

 4 U.S.-chartered commercial banks 33.6 25.8 24.7 11.1 -74.6 -67.5 -73.6 -64.6 -64.8 -60.6 -56.4 4

 5 Savings institutions 3.6 3.6 3.3 1.3 1.0 1.3 1.6 1.1 1.0 1.0 1.5 5

 6 Property-casualty insurance companies 1.5 -1.6 9.4 7.0 -21.1 -15.8 -12.6 -19.1 -15.7 -10.1 -7.9 6

 7 Life insurance companies -2.7 -5.3 -1.3 -4.7 -24.4 -31.4 -30.0 -30.6 -27.7 -28.8 -27.9 7

 8 Finance companies 15.0 16.9 17.0 15.5 15.4 12.7 12.6 12.6 12.8 12.9 12.8 8

 9 Brokers and dealers 2.2 2.1 2.8 2.2 2.5 5.7 4.4 4.4 6.4 3.6 4.2 9

10 Total business taxes receivable 190.9 232.6 285.1 342.5 389.3 416.1 420.9 429.9 442.4 448.9 458.2 10

11 State and local governments 99.6 141.0 189.0 237.5 269.8 280.9 281.8 286.9 295.5 298.0 303.5 11

12 Federal government 91.2 91.6 96.1 105.0 119.4 135.1 139.1 143.0 146.9 150.8 154.8 12

13 Discrepancy 28.4 -18.1 -48.1 -174.8 -345.3 -377.0 -372.4 -386.3 -386.7 -397.8 -386.8 13

L.227 Proprietors’ Equity in Noncorporate Business

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

 1 Total household equity 6596.2 7895.7 8818.5 8692.9 7096.2 6209.2 6322.2 6591.4 6271.5 6642.2 6585.3 1

 2 Nonfarm noncorporate business 5348.9 6508.1 7327.4 7093.3 5570.4 4685.0 4780.6 5041.2 4691.8 5019.8 4928.4 2

 3 Farm business 1236.1 1375.9 1481.3 1588.0 1516.3 1512.1 1529.0 1537.0 1566.6 1608.2 1643.8 3

 4 Brokers and dealers 11.2 11.7 9.8 11.6 9.5 12.1 12.6 13.2 13.1 14.2 13.0 4
100 Z.1, June 9, 2011

L.228 Total Miscellaneous Financial Claims

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 13294.3 14288.4 15739.1 17559.5 19892.8 19978.8 19933.5 20804.0 20672.1 20426.9 20666.0 1

 2 Household sector 22.5 22.4 22.8 23.9 27.0 22.1 24.6 25.5 22.6 24.7 25.2 2

 3 Nonfinancial corporate business 3598.3 3887.4 3940.0 4234.8 4514.8 4386.0 4343.9 4376.2 4394.5 4403.7 4352.5 3

 4 Nonfarm noncorporate business 718.2 861.2 1006.1 1099.9 1213.9 1325.4 1369.6 1391.7 1395.4 1394.2 1406.7 4

 5 Federal government 913.9 963.7 1017.2 1094.2 1183.5 1261.6 1243.8 1249.1 1269.6 1349.4 1335.1 5

 6 Rest of the world 3091.6 3468.1 4151.0 4881.5 5600.8 5726.4 5844.9 6507.5 6143.4 5953.3 6276.2 6

 7 Monetary authority 12.5 15.3 18.5 21.0 23.1 29.2 28.7 31.6 29.7 58.4 29.3 7

 8 Commercial banking 1426.8 1388.5 1486.2 1757.2 2552.1 2413.6 2426.9 2614.0 2798.1 2511.4 2629.3 8

 9 Savings institutions 33.2 60.5 80.2 102.4 72.3 21.8 22.4 20.3 20.5 20.2 20.4 9

10 Credit unions 9.3 11.9 9.2 3.6 4.7 19.4 11.4 12.0 12.4 11.0 13.6 10

11 Property-casualty insurance companies 708.3 759.3 815.7 813.8 821.2 829.7 829.3 836.7 842.4 848.7 849.3 11

12 Life insurance companies 801.2 824.0 925.9 1010.6 905.0 985.6 1012.6 1049.3 1074.7 1089.8 1115.1 12

13 Government-sponsored enterprises 143.7 141.8 153.4 171.1 212.1 270.4 157.4 144.1 118.5 154.6 140.5 13

14 Finance companies 719.6 702.8 715.7 654.4 664.8 573.6 571.0 568.7 570.4 561.7 551.1 14

15 REITs 50.4 54.7 62.4 65.8 62.1 39.3 49.1 47.9 45.8 37.3 39.6 15

16 Brokers and dealers 376.4 405.5 519.5 559.5 429.5 470.8 491.4 454.0 476.1 495.0 494.2 16

17 Funding corporations 668.5 721.4 815.1 1065.9 1605.9 1604.0 1506.6 1475.5 1458.2 1513.7 1387.9 17

18 Total assets 18349.2 19593.8 22281.0 24761.6 24782.6 25400.4 25328.9 25711.9 25850.6 25644.6 25595.1 18

19 Household sector 553.8 608.7 646.1 712.2 766.4 787.1 788.0 798.1 811.5 830.0 832.3 19

20 Nonfinancial corporate business 7689.6 8140.4 8901.1 9838.7 9312.3 9661.6 9767.2 9813.3 9933.8 10188.0 10213.1 20

21 Nonfarm noncorporate business 1009.5 1265.5 1644.4 1972.8 2079.4 1917.1 1886.6 1859.9 1835.1 1823.7 1817.3 21

22 Farm business 43.2 44.5 48.6 52.0 53.8 55.5 55.8 56.0 56.3 56.6 56.9 22

23 State and local governments 64.6 30.0 -10.5 -11.6 4.5 24.0 53.7 75.5 93.5 108.4 115.4 23

24 Federal government 134.0 133.7 136.8 138.7 110.8 145.8 147.2 130.5 136.8 141.4 140.3 24

25 Rest of the world 2985.6 3177.5 3977.7 4544.5 4154.1 4359.8 4351.6 4662.9 4545.5 4254.7 4120.7 25

26 Monetary authority 18.6 18.1 17.0 40.5 569.8 75.9 68.2 68.6 67.2 83.1 92.8 26

27 Commercial banking 2136.4 2223.7 2411.9 2615.6 3506.3 4007.4 3935.6 4117.3 4103.2 3880.8 3993.0 27

28 Savings institutions 166.7 107.9 109.3 115.5 90.0 83.8 82.7 80.4 78.9 75.8 77.7 28

29 Credit unions 24.5 24.2 24.9 35.9 44.2 50.6 43.5 40.8 47.9 53.4 51.5 29

30 Property-casualty insurance companies 89.9 103.3 105.5 121.1 106.6 131.1 133.1 131.6 135.0 142.6 144.3 30

31 Life insurance companies 243.9 262.1 303.3 342.9 380.1 357.6 361.8 389.3 388.9 360.3 330.8 31

32 Private pension funds 479.2 480.2 532.5 567.1 426.5 533.3 545.5 517.2 541.5 563.5 570.8 32

33 State and local govt. retirement funds 15.9 15.4 16.3 15.7 15.7 16.2 16.3 16.5 16.9 17.0 17.3 33

34 Federal government retirement funds 855.9 882.9 918.7 952.0 1015.3 1077.2 1060.6 1064.8 1081.5 1142.9 1128.8 34

35 Money market mutual funds 53.3 43.3 59.2 90.9 47.9 59.1 54.8 58.8 60.9 66.9 65.2 35

36 Mutual funds 7.0 10.7 14.0 16.8 20.0 14.9 8.3 2.8 -4.1 2.9 2.9 36

37 Government-sponsored enterprises 113.9 117.8 114.7 141.7 95.0 66.8 14.4 8.2 44.4 47.9 2.4 37

38 Finance companies 94.5 46.7 16.4 18.2 30.0 61.9 45.3 52.2 46.5 46.0 52.9 38

39 REITs 40.4 51.9 59.7 55.4 54.7 46.3 48.9 54.9 59.1 53.8 57.3 39

40 Brokers and dealers 994.0 1202.6 1599.4 1633.7 1105.7 1141.0 1148.1 1047.3 1062.2 1025.3 1001.9 40

41 Funding corporations 534.8 602.8 633.9 751.5 793.5 726.3 711.7 665.2 708.0 679.8 709.7 41

42 Discrepancy -5054.8 -5305.4 -6541.9 -7202.1 -4889.7 -5421.6 -5395.3 -4907.8 -5178.5 -5217.6 -4929.1 42
Z.1, June 9, 2011 101

L.229 Identified Miscellaneous Financial Claims - Part I

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 2498.5 2651.7 2948.2 3552.9 3742.8 4051.2 4157.8 4239.9 4326.4 4396.8 4470.5 1

 2 Asset: Nonfinancial corporate business 2094.7 2205.7 2440.7 2892.7 3006.3 3261.6 3362.1 3434.5 3508.6 3560.2 3624.4 2

 3 Commercial banking 93.5 104.9 95.9 150.3 192.3 223.1 222.7 227.6 229.1 234.2 232.4 3

 4 Property-casualty insurance companies 89.9 103.3 105.5 121.1 106.6 131.1 133.1 131.6 135.0 142.6 144.3 4

 5 Life insurance companies 16.6 19.1 20.0 25.6 25.1 29.8 30.4 31.4 32.1 36.9 38.8 5

 6 Finance companies 14.7 17.7 42.0 177.9 226.2 243.7 244.3 247.7 252.2 249.3 254.1 6

 7 Brokers and dealers 189.2 201.1 244.1 185.3 186.4 161.9 165.3 167.0 169.3 173.7 176.7 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 1409.8 1549.4 1722.7 2014.5 2176.5 2253.5 2292.5 2312.9 2374.7 2396.7 2444.3 8

 9 Nonfarm noncorporate business 3.0 3.3 3.6 3.5 3.2 3.4 3.3 3.3 3.3 3.3 3.2 9

10 Commercial banking 122.7 130.2 135.4 107.2 92.6 111.9 115.5 118.5 121.3 116.8 116.2 10

11 Property-casualty insurance companies 61.4 60.1 99.9 79.3 61.4 74.8 75.4 76.1 77.3 87.5 88.6 11

12 Life insurance companies 66.6 65.8 71.3 70.0 59.6 74.4 75.9 79.2 80.8 91.8 91.6 12

13 Finance companies 21.8 38.8 51.1 62.7 57.7 58.8 60.4 58.8 59.0 59.4 59.3 13

14 Brokers and dealers 49.6 49.9 61.0 63.7 60.2 85.2 88.5 83.1 86.7 100.4 105.2 14

15 Funding corporations 7.8 8.4 9.0 9.6 10.2 10.8 11.0 11.1 11.3 11.4 11.6 15

16 Asset: Rest of the world 1742.7 1906.0 2154.1 2410.5 2521.4 2672.8 2722.4 2742.9 2814.4 2867.3 2919.9 16

 Federal government equity in IBRD, etc.:

17 Liab.: Rest of the world 42.0 43.2 45.3 46.9 48.3 50.0 50.4 51.8 52.1 52.3 52.1 17

18 Asset: Federal government 42.0 43.2 45.3 46.9 48.3 50.0 50.4 51.8 52.1 52.3 52.1 18

 Federal Reserve Bank stock:

19 Liab.: Monetary authority 11.9 13.5 15.3 18.5 21.1 25.6 26.3 26.6 26.7 26.5 26.3 19

20 Asset: Commercial banking 11.9 13.5 15.3 18.5 21.1 25.6 26.3 26.6 26.7 26.5 26.3 20

 Equity in government-sponsored enterprises:

21 Liab.: Government-sponsored enterprises 44.8 46.7 46.9 56.0 55.7 51.8 51.0 50.5 50.6 49.0 48.6 21

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

23 Nonfarm noncorporate (Farm Credit System) 2.0 1.8 1.9 2.2 4.1 4.8 4.8 5.0 5.0 4.8 4.8 23

24 Farm business (Farm Credit System) 2.7 2.8 3.0 3.6 2.0 2.0 2.1 1.9 2.2 2.5 2.6 24

25 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Commercial banks (FHLB) 19.3 20.2 22.9 26.7 25.6 24.7 24.1 23.7 24.0 22.9 23.1 26

27 Savings institutions (FHLB) 17.4 18.5 15.6 18.8 18.0 15.0 15.0 14.8 14.0 13.8 13.2 27

28 Credit unions (FHLB) 1.7 1.8 1.9 2.5 2.8 2.4 2.4 2.4 2.4 2.2 2.2 28

29 Life insurance companies (FHLB) 1.7 1.6 1.6 2.2 3.2 2.9 2.8 2.9 2.9 2.9 2.9 29

 BHC investment in subsidiaries:

30 Liab.: Commercial banking 857.0 897.0 1067.0 1197.8 1244.4 1413.5 1408.5 1431.6 1452.4 1366.8 1389.1 30

31 Savings institutions 19.0 22.7 10.7 10.9 13.4 24.0 24.0 23.7 24.3 23.0 23.2 31

32 Life insurance companies 25.9 35.6 38.3 43.7 31.2 40.5 43.2 46.9 50.8 62.7 64.5 32

33 Finance companies 234.1 195.2 198.5 239.9 232.6 209.3 181.5 179.0 178.3 173.1 181.7 33

34 Brokers and dealers 62.3 130.5 159.9 49.9 109.2 635.3 659.0 661.0 683.2 634.6 630.8 34

35 Asset: Bank holding companies 1198.2 1281.0 1474.4 1542.2 1630.9 2322.6 2316.1 2342.2 2389.0 2260.2 2289.3 35

 NFC inv. in finance company subs.:

36 Liab.: Finance companies 23.6 117.0 140.1 81.5 80.5 71.2 95.9 94.6 94.2 91.5 76.0 36

37 Asset: Nonfinancial corporate business 23.6 117.0 140.1 81.5 80.5 71.2 95.9 94.6 94.2 91.5 76.0 37

 Funding corp. investment in subs.:

38 Liab.: Foreign banking offices in U.S. 167.7 188.8 197.3 241.0 276.6 203.1 189.2 150.4 177.1 171.6 190.5 38

39 Brokers and dealers 367.1 414.0 436.5 510.5 516.9 523.2 522.5 514.8 531.0 508.2 519.2 39

40 Asset: Funding corporations 534.8 602.8 633.9 751.5 793.5 726.3 711.7 665.2 708.0 679.8 709.7 40

 Equity investment under Public-Private Inv. Program:

41 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 1.8 4.2 6.2 7.1 7.7 7.8 41

42 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.9 2.1 3.1 3.6 3.8 3.9 42

43 Federal government 0.0 0.0 0.0 0.0 0.0 0.9 2.1 3.1 3.6 3.8 3.9 43

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
102 Z.1, June 9, 2011

L.230 Identified Miscellaneous Financial Claims - Part II

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 2.8 0.6 0.6 24.5 554.2 10.9 0.7 2.1 0.9 0.8 0.8 1

 2 Asset: Federal government 2.8 0.6 0.6 0.5 0.5 0.7 0.7 0.8 0.9 0.8 0.8 2

 3 Monetary authority (1) 0.0 0.0 0.0 24.0 553.7 10.3 0.0 1.2 0.1 0.1 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 18.4 19.2 19.0 20.9 15.5 15.9 21.1 17.8 19.7 14.4 15.0 6

 7 Asset: Savings institutions 18.4 19.2 19.0 20.9 15.5 15.9 21.1 17.8 19.7 14.4 15.0 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 22.5 22.4 22.8 23.9 27.0 22.1 24.6 25.5 22.6 24.7 25.2 8

 9 Asset: Life insurance companies 22.5 22.4 22.8 23.9 27.0 22.1 24.6 25.5 22.6 24.7 25.2 9

 Life insurance company reserves:

10 Liab.: Life insurance companies 211.0 217.3 232.1 247.6 265.2 273.6 275.0 280.0 286.7 288.4 291.2 10

11 Accident and health 131.3 138.3 149.8 163.3 182.7 192.4 192.8 196.9 203.1 207.1 208.9 11

12 Policy dividend accumulation 41.7 42.7 43.5 43.7 40.4 39.2 39.1 38.8 39.1 39.7 39.9 12

13 Contract claims 38.0 36.3 38.8 40.6 42.1 42.0 43.0 44.3 44.4 41.6 42.4 13

14 Asset: Household sector 211.0 217.3 232.1 247.6 265.2 273.6 275.0 280.0 286.7 288.4 291.2 14

 Policy payables:

15 Liab.: Property-casualty insurance companies 646.9 699.2 715.8 734.5 759.9 754.8 753.9 760.6 765.1 761.2 760.7 15

16 Asset: Household sector 290.4 316.0 320.5 327.3 337.3 332.2 331.5 334.5 336.8 334.8 334.4 16

17 Nonfinancial corporate business 255.5 276.2 282.7 290.1 300.0 298.2 297.8 300.4 302.2 300.7 300.5 17

18 Nonfarm noncorporate business 60.5 65.3 66.9 68.6 70.7 71.0 70.9 71.5 71.9 71.6 71.5 18

19 Farm business 40.5 41.7 45.6 48.5 51.8 53.5 53.7 54.1 54.1 54.1 54.3 19

 Unallocated insurance company contracts:

20 Liab.: Life insurance companies 328.4 338.4 387.9 431.3 317.6 412.8 429.9 408.0 433.8 457.5 471.3 20

21 Asset: Private pension funds 328.4 338.4 387.9 431.3 317.6 412.8 429.9 408.0 433.8 457.5 471.3 21

 Pension fund contributions payable:

22 Liab.: Nonfinancial corporate business 46.6 44.8 42.8 47.2 47.9 50.5 49.9 49.6 49.4 49.2 49.1 22

23 Asset: Private pension funds 46.6 44.8 42.8 47.2 47.9 50.5 49.9 49.6 49.4 49.2 49.1 23

 Securities borrowed (net):

24 Liab.: Funding corporations 764.8 939.7 1242.3 1240.2 887.0 856.8 849.2 765.6 773.5 733.4 709.0 24

25 Asset: Brokers and dealers 764.8 939.7 1242.3 1240.2 887.0 856.8 849.2 765.6 773.5 733.4 709.0 25

 Nonmarketable government securities:

26 Liab.: Federal government 855.9 882.9 918.7 952.0 1015.3 1077.2 1060.6 1064.8 1081.5 1142.9 1128.8 26

27 Asset: Federal government retirement funds 855.9 882.9 918.7 952.0 1015.3 1077.2 1060.6 1064.8 1081.5 1142.9 1128.8 27

 Retiree health care funds (2):

28 Liab.: Federal government 52.4 75.4 93.5 137.3 163.8 180.4 179.3 180.5 184.4 202.9 202.8 28

29 Asset: Household sector 52.4 75.4 93.5 137.3 163.8 180.4 179.3 180.5 184.4 202.9 202.8 29

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
Z.1, June 9, 2011 103

L.231 Unidentified Miscellaneous Financial Claims

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 4248.2 4386.8 4605.6 5240.2 6945.4 6350.5 6153.6 7029.8 6586.1 6320.4 6411.9 1

 2 Nonfinancial corporate business 2141.8 2293.2 2174.5 2173.1 2290.3 2082.1 2001.5 2013.7 1970.5 1957.8 1859.0 2

 3 Nonfarm noncorporate business 715.2 857.9 1002.5 1096.4 1210.7 1322.0 1366.3 1388.4 1392.1 1390.9 1403.5 3

 4 Federal government 5.6 5.4 5.1 4.9 4.3 4.0 3.9 3.8 3.7 3.6 3.5 4

 5 Rest of the world 548.4 772.6 1157.1 1257.3 1255.4 1614.3 1636.0 2213.8 1764.0 1503.3 1752.8 5

 6 Monetary authority 0.6 1.8 3.2 2.5 2.1 3.6 2.5 5.0 3.0 31.9 3.0 6

 7 Commercial banking 279.4 172.6 86.4 211.1 938.5 685.0 713.7 913.4 1047.3 856.2 933.5 7

 8 U.S.-chartered commercial banks 46.4 -30.4 -67.8 -94.7 13.6 -4.4 16.7 78.9 141.4 171.1 175.4 8

 9 Foreign banking offices in U.S. -81.2 -55.1 -177.9 -48.7 480.2 116.5 129.0 265.4 330.7 150.9 213.7 9

10 Bank holding companies 271.6 216.0 294.4 328.3 422.9 548.0 545.8 543.0 553.6 514.2 525.6 10

11 Banks in U.S.-affiliated areas 42.5 42.2 37.7 26.2 21.7 25.0 22.2 26.1 21.6 20.0 18.8 11

12 Savings institutions 14.3 37.8 69.5 91.5 58.9 -2.2 -1.6 -3.4 -3.8 -2.8 -2.8 12

13 Credit unions 9.3 11.9 9.2 3.6 4.7 19.4 11.4 12.0 12.4 11.0 13.6 13

14 Life insurance companies 169.3 166.9 196.3 218.1 231.5 184.4 188.7 235.2 222.7 189.4 196.6 14

15 Government-sponsored enterprises 80.5 75.9 87.6 94.3 141.0 202.8 85.3 75.7 48.2 91.2 76.8 15

16 Finance companies 440.1 351.8 326.0 270.3 294.0 234.3 233.2 236.4 238.9 237.7 234.2 16

17 REITs 50.4 54.7 62.4 65.8 62.1 39.3 49.1 47.9 45.8 37.3 39.6 17

18 Brokers and dealers -102.6 -188.9 -137.9 -64.6 -256.8 -773.0 -778.6 -804.8 -824.9 -748.2 -761.0 18

19 Funding corporations -104.2 -226.8 -436.2 -183.9 708.6 734.5 642.2 692.7 666.3 761.2 659.4 19

20 Total assets 9303.0 9692.2 11147.5 12442.3 11835.1 11772.1 11548.9 11937.6 11764.6 11538.1 11341.0 20

21 Nonfinancial corporate business 5315.9 5541.5 6037.6 6574.3 5925.6 6030.6 6011.4 5983.8 6028.8 6235.6 6212.3 21

22 Nonfarm noncorporate business 947.1 1198.4 1575.6 1902.0 2004.7 1841.3 1811.0 1783.4 1758.2 1747.4 1741.0 22

23 State and local governments 64.6 30.0 -10.5 -11.6 4.5 24.0 53.7 75.5 93.5 108.4 115.4 23

24 Federal government 89.3 89.9 91.0 91.4 62.0 94.3 94.0 74.8 80.3 84.5 83.6 24

25 Rest of the world 1242.8 1271.5 1823.7 2134.0 1632.8 1687.0 1629.2 1920.0 1731.1 1387.4 1200.8 25

26 Monetary authority 18.6 18.1 17.0 16.5 16.1 65.6 68.2 67.3 67.1 83.0 92.8 26

27 Commercial banking 813.5 804.1 803.4 878.0 1636.4 1411.3 1346.5 1497.2 1434.4 1337.0 1421.9 27

28 U.S.-chartered commercial banks 557.5 563.9 667.1 689.4 990.7 786.8 750.9 788.6 755.6 701.8 735.8 28

29 Foreign banking offices in U.S. 56.4 24.3 -119.6 -104.9 259.8 139.5 130.4 225.8 191.4 143.5 179.7 29

30 Bank holding companies 194.4 210.6 250.0 281.4 374.8 478.5 457.7 469.6 475.2 480.6 495.6 30

31 Banks in U.S.-affiliated areas 5.2 5.3 5.9 12.1 11.1 6.5 7.5 13.3 12.1 11.0 10.9 31

32 Savings institutions 130.9 70.2 74.7 75.7 56.6 52.9 46.6 47.8 45.1 47.6 49.5 32

33 Credit unions 22.8 22.4 23.0 33.4 41.5 48.3 41.1 38.4 45.5 51.2 49.3 33

34 Life insurance companies 203.1 219.0 258.9 291.2 324.8 302.8 304.1 329.4 331.3 295.9 264.0 34

35 Private pension funds 104.1 97.0 101.8 88.6 61.0 70.0 65.7 59.6 58.4 56.8 50.4 35

36 State and local govt. retirement funds 15.9 15.4 16.3 15.7 15.7 16.2 16.3 16.5 16.9 17.0 17.3 36

37 Mutual funds 7.0 10.7 14.0 16.8 20.0 14.9 8.3 2.8 -4.1 2.9 2.9 37

38 Money market mutual funds 53.3 43.3 59.2 90.9 47.9 59.1 54.8 58.8 60.9 66.9 65.2 38

39 Government-sponsored enterprises 113.9 117.8 114.7 141.7 95.0 66.8 14.4 8.2 44.4 47.9 2.4 39

40 Finance companies 79.8 29.0 -25.6 -159.7 -196.2 -181.8 -198.9 -195.5 -205.7 -203.2 -201.2 40

41 REITs 40.4 51.9 59.7 55.4 54.7 46.3 48.9 54.9 59.1 53.8 57.3 41

42 Brokers and dealers 40.0 61.8 113.0 208.1 32.2 122.4 133.6 114.8 119.4 118.3 116.2 42

43 Discrepancy -5054.8 -5305.4 -6541.9 -7202.1 -4889.7 -5421.6 -5395.3 -4907.8 -5178.5 -5217.6 -4929.1 43
104 Z.1, June 9, 2011

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

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Assets 63657.9 71141.4 77605.1 78538.9 65635.7 68161.5 69253.8 67954.3 68645.9 71062.7 71932.4 1

 2 Nonfinancial assets 24590.5 28290.5 29523.2 27972.4 24397.3 23678.6 23850.7 23973.8 23381.1 23379.8 23085.3 2

 3 Real estate 20513.2 24005.8 25031.0 23297.4 19601.3 18844.0 19004.7 19105.6 18495.4 18465.8 18117.0 3

 4 Households (2,3) 18955.1 22051.1 22732.5 20895.0 17516.0 17114.9 17216.9 17174.7 16677.2 16450.6 16111.8 4

 5 Nonprofit organizations 1558.1 1954.7 2298.5 2402.4 2085.3 1729.1 1787.7 1930.8 1818.2 2015.3 2005.3 5

 Equipment and software owned by

 6 nonprofit organizations (4) 194.2 207.8 224.1 240.4 262.9 274.0 277.1 282.7 289.0 295.8 303.4 6

 7 Consumer durable goods (4) 3883.1 4077.0 4268.1 4434.6 4533.1 4560.6 4568.9 4585.5 4596.7 4618.1 4664.9 7

 8 Financial assets 39067.3 42850.9 48081.9 50566.5 41238.3 44482.9 45403.1 43980.5 45264.8 47682.9 48847.1 8

 9 Deposits 5732.4 6139.9 6753.1 7406.1 8013.1 7935.7 7867.6 7795.1 7815.1 7933.9 8038.1 9

10 Foreign deposits 57.5 59.9 65.2 80.6 56.5 46.2 46.7 49.2 49.9 51.3 51.9 10

11 Checkable deposits and currency 344.1 216.9 173.1 90.3 292.0 380.0 282.6 250.7 214.9 273.5 285.2 11

12 Time and savings deposits 4426.8 4913.9 5400.4 5888.5 6082.8 6211.2 6343.8 6350.6 6411.3 6458.0 6513.2 12

13 Money market fund shares 904.1 949.2 1114.5 1346.7 1581.8 1298.3 1194.5 1144.6 1139.0 1151.2 1187.7 13

14 Credit market instruments 2999.2 3326.5 3462.5 4072.8 3966.9 4119.2 4169.6 4253.0 4172.6 4254.7 4128.8 14

15 Open market paper 83.7 98.4 117.5 107.3 6.0 34.6 44.6 54.2 63.0 63.4 67.9 15

16 Treasury securities 492.6 464.3 384.1 255.6 247.7 776.2 928.0 1106.3 1123.4 1114.4 959.4 16

17 Savings bonds 204.4 205.1 202.4 196.4 194.0 191.2 190.2 189.6 188.7 187.9 186.8 17

18 Other Treasury 288.2 259.2 181.7 59.2 53.7 585.0 737.8 916.7 934.7 926.5 772.7 18

19 Agency- and GSE-backed securities 402.6 496.3 405.0 669.3 711.7 104.3 55.2 67.5 79.9 108.7 185.1 19

20 Municipal securities 742.3 820.9 872.0 896.0 903.8 1009.6 1041.4 1043.8 1037.6 1083.8 1078.2 20

21 Corporate and foreign bonds 1140.7 1298.5 1552.8 2017.1 1956.3 2067.5 1969.9 1853.7 1744.3 1763.1 1718.8 21

22 Other loans and advances (5) 5.9 8.7 9.1 17.6 29.7 24.5 29.6 29.6 29.7 29.7 29.7 22

23 Mortgages 131.3 139.4 122.1 109.8 111.8 102.5 101.0 97.7 94.8 91.6 89.7 23

24 Corporate equities (2) 7483.9 8093.0 9643.7 9627.0 5738.8 7429.3 7676.2 6955.9 7500.8 8239.9 8791.9 24

25 Mutual fund shares (6) 3427.7 3669.1 4188.1 4596.8 3325.9 4177.2 4359.0 4055.2 4412.6 4717.2 5050.4 25

26 Security credit 578.3 575.3 655.7 866.4 742.7 668.6 680.0 686.0 696.8 694.3 703.3 26

27 Life insurance reserves 1060.4 1082.6 1163.7 1201.5 1179.8 1242.1 1249.5 1235.7 1261.9 1278.3 1297.8 27

28 Pension fund reserves 10635.5 11460.1 12750.6 13390.7 10408.5 11914.5 12291.0 11610.2 12322.1 13092.4 13419.2 28

29 Equity in noncorporate business (7) 6596.2 7895.7 8818.5 8692.9 7096.2 6209.2 6322.2 6591.4 6271.5 6642.2 6585.3 29

30 Miscellaneous assets 553.8 608.7 646.1 712.2 766.4 787.1 788.0 798.1 811.5 830.0 832.3 30

31 Liabilities 11035.6 12204.8 13458.1 14369.6 14265.8 14077.4 13963.3 13930.8 13916.0 13948.4 13874.7 31

32 Credit market instruments 10575.9 11763.7 12943.2 13805.6 13843.8 13611.2 13496.1 13437.0 13404.9 13386.2 13271.4 32

33 Home mortgages (8) 7838.2 8877.3 9866.5 10540.2 10495.7 10342.1 10221.9 10173.7 10106.1 10055.4 9987.9 33

34 Consumer credit 2220.1 2320.6 2416.0 2555.3 2594.1 2478.9 2406.1 2387.5 2407.8 2434.7 2404.0 34

35 Municipal securities (9) 189.1 205.2 224.1 241.2 249.3 264.1 266.0 266.9 266.3 268.2 268.2 35

36 Bank loans n.e.c. 26.7 36.4 86.4 99.7 117.7 147.7 226.3 237.4 256.2 263.1 247.6 36

37 Other loans and advances 119.0 119.0 123.8 127.0 133.2 133.7 134.3 134.7 135.8 136.1 136.4 37

38 Commercial mortgages (9) 182.6 205.3 226.5 242.2 253.8 244.7 241.4 236.9 232.6 228.8 227.3 38

39 Security credit 264.0 232.4 292.1 325.5 164.8 203.0 196.4 217.0 233.7 278.2 315.7 39

40 Trade payables (9) 173.3 186.3 199.9 214.5 230.2 241.2 246.3 251.3 254.9 259.3 262.5 40

 Deferred and unpaid

41 life insurance premiums 22.5 22.4 22.8 23.9 27.0 22.1 24.6 25.5 22.6 24.7 25.2 41

42 Net worth 52622.3 58936.6 64147.1 64169.3 51369.8 54084.1 55290.4 54023.5 54729.8 57114.3 58057.7 42

 Memo:

 Replacement-cost value of structures:

43 Residential 12030.3 13475.1 14440.6 14660.2 14406.2 14091.7 14108.2 13989.5 13976.9 14070.8 14122.8 43

44 Households 11848.9 13275.9 14229.3 14445.1 14191.1 13881.7 13898.0 13781.2 13768.8 13861.4 13912.7 44

45 Nonprofit organizations 181.4 199.3 211.3 215.1 215.0 210.0 210.2 208.3 208.1 209.4 210.1 45

46 Nonresidential (nonprofits) 1059.9 1177.5 1284.3 1353.6 1424.3 1372.5 1388.6 1408.7 1432.1 1459.7 1488.3 46

47 Disposable personal income (SAAR) 8889.4 9277.3 9915.7 10423.6 10952.9 11034.9 11215.6 11368.0 11417.3 11497.8 11628.6 47

 Household net worth as percentage of

48 disposable personal income (SAAR) 592.0 635.3 646.9 615.6 469.0 490.1 493.0 475.2 479.4 496.7 499.3 48

 Owners’ equity in household real

49 estate (10) 11116.9 13173.8 12866.0 10354.8 7020.3 6772.8 6995.0 7001.0 6571.1 6395.2 6123.8 49

 Owners’ equity as percentage of

50 household real estate (11) 58.6 59.7 56.6 49.6 40.1 39.6 40.6 40.8 39.4 38.9 38.0 50

(1) Sector includes farm households and domestic hedge funds.

(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) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

(7) Net worth of noncorporate business (table B.103, line 31) and owners’ equity in farm business and unincorporated security brokers and dealers.

(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 22.

(9) Liabilities of nonprofit organizations.

(10) Line 4 less line 33.

(11) Line 49 divided by line 4.
Z.1, June 9, 2011 105

B.102 Balance Sheet of Nonfarm Nonfinancial Corporate Business

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

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

 1 Assets 21595.3 24333.5 26770.6 28655.3 26734.3 25743.6 26121.8 26948.8 26834.9 28015.7 28195.7 1

 2 Nonfinancial assets 10683.5 12460.0 14140.9 14937.0 13848.6 12207.6 12436.1 13136.6 12738.8 13628.1 13661.0 2

 3 Real estate (1) 5805.9 7310.7 8655.8 9181.7 8000.1 6517.9 6742.3 7427.8 6953.1 7751.5 7676.2 3

 4 Equipment and software (2) 3429.5 3591.8 3820.7 3960.6 4103.1 4032.9 4016.1 4030.6 4050.0 4076.5 4109.2 4

 5 Inventories (2) 1448.1 1557.5 1664.4 1794.7 1745.3 1656.8 1677.7 1678.2 1735.7 1800.0 1875.6 5

 6 Financial assets 10911.8 11873.5 12629.7 13718.3 12885.8 13536.0 13685.8 13812.2 14096.0 14387.6 14534.7 6

 7 Foreign deposits 53.7 63.6 49.3 50.3 24.7 31.6 38.2 49.1 59.6 72.1 69.4 7

 8 Checkable deposits and currency 194.2 267.8 150.9 141.9 32.7 168.7 245.6 286.0 344.1 410.4 432.6 8

 9 Time and savings deposits 400.5 450.4 497.0 441.3 381.9 491.2 460.3 440.2 473.5 473.9 507.2 9

10 Money market fund shares 308.6 348.2 416.3 544.4 702.6 646.1 568.3 524.3 521.8 517.5 497.4 10

11 Security RPs 6.4 14.6 15.5 8.1 7.2 8.0 9.4 9.6 7.5 13.7 10.9 11

12 Commercial paper 95.0 111.0 122.7 69.5 57.3 56.9 58.2 65.3 74.2 73.3 67.8 12

13 Treasury securities 34.0 52.1 45.5 38.3 30.5 39.1 45.3 47.6 48.2 38.9 48.7 13

14 Agency- and GSE-backed securities 11.3 17.4 15.2 12.8 10.2 13.0 15.1 15.9 16.1 13.0 16.2 14

15 Municipal securities 31.8 32.1 28.1 29.2 26.2 27.3 26.1 23.4 24.6 23.7 26.5 15

16 Mortgages 66.6 68.3 59.8 41.4 33.6 30.3 29.5 28.7 27.8 27.0 26.2 16

17 Consumer credit 59.2 59.6 57.6 58.6 59.8 57.2 53.5 52.8 52.4 56.0 52.8 17

18 Trade receivables 1830.6 2108.2 2090.0 2253.0 2081.1 2114.6 2170.0 2267.7 2306.0 2257.1 2334.8 18

19 Mutual fund shares (1) 130.1 140.0 180.7 191.1 125.8 190.2 199.2 188.1 206.6 222.9 231.2 19

20 Miscellaneous assets 7689.6 8140.4 8901.1 9838.7 9312.3 9661.6 9767.2 9813.3 9933.8 10188.0 10213.1 20

21 Liabilities 10349.3 11145.3 11781.9 12872.6 13173.3 12964.6 13019.9 13121.7 13273.6 13395.9 13508.7 21

22 Credit market instruments 5163.1 5472.3 5943.4 6703.0 6950.6 6963.9 6999.2 7015.9 7099.9 7176.3 7293.3 22

23 Commercial paper 97.8 90.1 112.5 123.8 131.5 58.4 73.6 82.0 97.9 82.9 110.5 23

24 Municipal securities (3) 169.2 176.8 182.2 190.3 193.0 198.5 199.0 199.8 202.4 206.8 206.5 24

25 Corporate bonds (4) 2974.5 3031.1 3246.7 3557.9 3762.5 4139.7 4247.8 4305.7 4433.4 4559.6 4653.9 25

26 Bank loans n.e.c. 542.7 508.7 518.3 609.9 663.6 542.6 539.0 525.2 519.2 528.8 538.3 26

27 Other loans and advances 824.0 932.5 1061.7 1350.2 1405.0 1260.9 1189.9 1173.5 1136.2 1112.4 1116.5 27

28 Mortgages 555.0 733.1 822.0 870.9 795.1 763.8 749.9 729.8 710.7 685.8 667.5 28

29 Trade payables 1499.9 1699.4 1813.0 1898.9 1669.0 1579.0 1627.6 1685.5 1729.8 1776.7 1811.4 29

30 Taxes payable 88.0 86.2 85.4 35.8 39.0 35.7 49.3 44.2 49.4 39.2 51.6 30

31 Miscellaneous liabilities 3598.3 3887.4 3940.0 4234.8 4514.8 4386.0 4343.9 4376.2 4394.5 4403.7 4352.5 31

32 Net worth (market value) 11246.0 13188.2 14988.7 15782.7 13561.0 12778.9 13101.9 13827.0 13561.2 14619.8 14686.9 32

 Memo:

 Replacement-cost value of structures:

33 Residential 136.0 152.3 164.8 170.8 172.7 169.4 169.7 168.4 168.3 169.6 170.3 33

34 Nonresidential 5081.9 5654.1 6150.9 6544.1 7089.7 6822.7 6899.9 6996.6 7109.9 7244.2 7382.9 34

 Market value of equities outstanding

35 (includes corporate farm equities) 12088.6 12686.6 14602.3 15725.8 10014.2 12490.9 12949.9 11681.7 12793.9 14227.8 15087.9 35

36 Debt/net worth (percent) (5) 45.9 41.5 39.7 42.5 51.3 54.5 53.4 50.7 52.4 49.1 49.7 36

37 Debt/equities (percent) (6) 42.7 43.1 40.7 42.6 69.4 55.8 54.0 60.1 55.5 50.4 48.3 37

38 Equities/net worth (percent) (7) 107.5 96.2 97.4 99.6 73.8 97.7 98.8 84.5 94.3 97.3 102.7 38

 With nonfinancial assets stated at historical cost:

39 Assets (8) 18621.7 20001.0 21243.3 22816.4 22343.3 23037.6 23267.0 23583.3 23951.2 24337.1 24597.7 39

40 Nonfinancial assets 7709.9 8127.5 8613.6 9098.1 9457.5 9501.7 9581.3 9771.1 9855.2 9949.5 10063.0 40

41 Real estate 3126.1 3294.1 3520.5 3801.3 4089.4 4276.6 4314.3 4473.8 4493.3 4538.7 4560.2 41

42 Equipment and software 3194.2 3314.1 3478.9 3633.2 3738.7 3715.1 3718.4 3729.5 3745.5 3763.1 3783.7 42

43 Inventories 1389.6 1519.3 1614.2 1663.6 1629.5 1510.0 1548.6 1567.8 1616.4 1647.7 1719.2 43

44 Net worth (historical cost) (9) 8272.3 8855.7 9461.4 9943.8 9170.0 10073.0 10247.1 10461.5 10677.6 10941.2 11089.0 44

 Memo:

 Historical-cost value of structures:

45 Residential 59.2 64.0 68.7 73.1 76.6 78.8 79.3 79.9 80.3 80.8 81.3 45

46 Nonresidential 2721.7 2854.3 3047.0 3290.4 3568.3 3749.7 3782.3 3814.9 3847.3 3881.1 3912.3 46

47 Debt/net worth (percent) (10) 62.4 61.8 62.8 67.4 75.8 69.1 68.3 67.1 66.5 65.6 65.8 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.
106 Z.1, June 9, 2011

B.103 Balance Sheet of Nonfarm Nonfinancial Noncorporate Business

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Assets 8877.9 10572.4 11974.2 12321.7 11229.4 10114.0 10157.6 10370.5 9978.4 10296.2 10202.7 1

 2 Nonfinancial assets 6772.3 8030.5 8917.0 8788.7 7600.4 6768.3 6865.1 7124.7 6775.7 7113.5 7031.2 2

 3 Real estate (1) 6231.7 7451.4 8293.4 8130.8 6922.3 6101.8 6226.6 6524.1 6218.4 6602.4 6571.9 3

 4 Residential 4869.1 5745.6 6279.7 6003.8 5079.7 4618.6 4700.8 4868.2 4664.6 4867.1 4858.9 4

 5 Nonresidential 1362.6 1705.8 2013.6 2127.0 1842.6 1483.2 1525.8 1655.9 1553.8 1735.3 1713.0 5

 6 Equipment and software (2) 464.4 497.2 536.0 563.4 586.2 579.4 550.3 512.3 466.0 416.4 360.6 6

 7 Residential (3) 39.5 42.9 46.2 47.4 48.8 46.3 46.0 45.6 45.2 44.4 43.9 7

 8 Nonresidential 424.8 454.2 489.9 515.9 537.5 533.0 504.3 466.8 420.8 372.0 316.7 8

 9 Inventories (2) 76.2 82.0 87.6 94.5 91.9 87.2 88.3 88.3 91.4 94.7 98.7 9

10 Financial assets 2105.6 2541.8 3057.2 3533.1 3629.0 3345.6 3292.5 3245.8 3202.6 3182.7 3171.5 10

11 Checkable deposits and currency 279.2 355.5 428.6 494.3 497.6 458.7 451.5 445.1 439.1 436.4 434.9 11

12 Time and savings deposits 300.6 324.1 344.4 359.3 358.1 330.1 324.9 320.3 316.0 314.1 312.9 12

13 Money market fund shares 66.5 69.0 72.2 74.3 75.4 69.5 68.4 67.4 66.5 66.1 65.9 13

14 Treasury securities 50.2 56.2 56.3 59.3 51.8 47.8 47.0 46.3 45.7 45.4 45.3 14

15 Municipal securities 4.3 4.4 5.8 5.3 4.9 4.5 4.5 4.4 4.3 4.3 4.3 15

16 Mortgages 30.8 36.2 34.6 42.1 39.1 36.1 35.5 35.0 34.5 34.3 34.2 16

17 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Trade receivables 364.3 430.9 470.9 525.6 522.7 481.9 474.2 467.5 461.3 458.4 456.8 18

19 Miscellaneous assets 1009.5 1265.5 1644.4 1972.8 2079.4 1917.1 1886.6 1859.9 1835.1 1823.7 1817.3 19

20 Insurance receivables 60.5 65.3 66.9 68.6 70.7 71.0 70.9 71.5 71.9 71.6 71.5 20

21 Equity investment in GSEs (4) 2.0 1.8 1.9 2.2 4.1 4.8 4.8 5.0 5.0 4.8 4.8 21

22 Other 947.1 1198.4 1575.6 1902.0 2004.7 1841.3 1811.0 1783.4 1758.2 1747.4 1741.0 22

23 Liabilities 3529.0 4064.3 4646.8 5228.4 5658.9 5428.9 5377.0 5329.3 5286.6 5276.4 5274.3 23

24 Credit market instruments 2455.3 2786.9 3195.6 3650.3 3972.1 3672.4 3584.1 3521.2 3481.2 3475.1 3462.1 24

25 Bank loans n.e.c. 473.4 629.9 742.8 882.3 1000.0 804.6 753.9 729.9 714.4 727.4 736.5 25

26 Other loans and advances 145.3 149.5 163.9 174.9 208.1 199.5 197.3 198.0 203.3 203.8 192.6 26

27 Mortgages 1836.6 2007.5 2288.9 2593.1 2764.0 2668.4 2632.9 2593.3 2563.6 2543.8 2533.1 27

28 Trade payables 277.4 329.4 349.4 378.7 366.8 332.8 326.4 320.8 315.6 313.2 311.9 28

29 Taxes payable 78.0 86.7 95.7 99.5 106.2 98.4 96.9 95.6 94.4 93.9 93.6 29

30 Miscellaneous liabilities 718.2 861.2 1006.1 1099.9 1213.9 1325.4 1369.6 1391.7 1395.4 1394.2 1406.7 30

31 Net worth (5) 5348.9 6508.1 7327.4 7093.3 5570.4 4685.0 4780.6 5041.2 4691.8 5019.8 4928.4 31

 Memo:

 Replacement-cost value of structures:

32 Residential 2614.5 2854.7 3025.2 3072.5 3047.3 2968.2 2969.3 2941.4 2936.2 2953.4 2961.5 32

33 Nonresidential 1065.6 1182.1 1286.0 1362.1 1450.2 1381.3 1408.9 1441.9 1480.4 1526.0 1578.4 33

34 Debt/net worth (percent) (6) 45.9 42.8 43.6 51.5 71.3 78.4 75.0 69.8 74.2 69.2 70.2 34

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 23. Included in table B.100, line 29.

(6) Line 24 divided by line 31.
Z.1, June 9, 2011 107

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

Billions of dollars; not seasonally adjusted

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) 5483.9 6314.3 5210.5 22.3 -12799.5 2714.3 1206.3 -1267.0 706.4 2384.5 943.4 1

 2 Net investment 618.8 323.0 177.4 684.0 786.6 524.7 215.7 181.2 245.5 374.7 235.8 2

 3 Net physical investment 699.2 762.7 723.5 584.0 351.1 173.5 -6.9 53.4 84.8 105.7 2.9 3

 4 Capital expenditures 1674.7 1799.9 1819.3 1726.3 1526.8 1359.8 285.1 345.5 378.2 400.3 299.1 4

 5 - Consumption of fixed capital 975.5 1037.2 1095.7 1142.3 1175.7 1186.3 292.0 292.1 293.4 294.6 296.2 5

 6 Net lending (+) or net borrowing (-) -80.4 -439.8 -546.1 100.0 435.5 351.2 222.6 127.9 160.6 269.0 232.9 6

 7 Net acquisition of financial assets 1071.3 717.1 707.1 1011.5 326.8 162.8 70.7 95.4 145.8 301.4 159.2 7

 8 - Net increase in liabilities 1151.7 1156.9 1253.2 911.5 -108.7 -188.4 -151.8 -32.5 -14.8 32.4 -73.7 8

 Holding gains on assets

 9 at market value (2) 4824.5 5995.6 5010.0 -699.4 -13452.9 1811.9 1019.2 -1421.7 481.1 2032.1 706.4 9

10 Real estate 2199.8 3035.3 531.6 -2081.4 -3899.7 -861.0 201.6 96.9 -657.1 -84.4 -298.5 10

11 Corporate equities 966.3 981.5 2135.7 831.2 -3775.8 1579.3 270.1 -743.7 549.5 824.7 606.7 11

12 Mutual fund shares 345.6 67.9 353.5 200.1 -1286.0 488.1 53.9 -309.2 237.3 235.8 88.2 12

13 Equity in noncorporate business 737.3 1355.5 933.8 -92.3 -1307.7 -824.3 125.2 254.8 -327.0 374.2 -31.8 13

14 Life insurance and pension fund reserves 575.4 555.4 1055.4 443.0 -3183.7 1430.2 368.9 -720.3 678.5 681.9 341.9 14

15 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 -0.3 -0.5 -0.3 -0.1 -0.1 -0.0 15

 Holding gains on assets

16 at current cost (2) -36.3 -44.5 -34.4 -52.3 -27.3 -36.1 -21.9 -14.3 -21.6 -21.3 0.2 16

17 Consumer durable goods -37.1 -45.1 -36.5 -52.4 -30.0 -35.2 -20.3 -14.7 -22.5 -22.7 -1.8 17

18 Equipment and software 0.7 0.7 2.1 0.1 2.7 -1.0 -1.6 0.4 0.9 1.4 2.0 18

19 Other volume changes (3) 76.9 40.3 57.5 90.0 -105.9 413.8 -6.7 -12.3 1.4 -1.1 1.0 19

 Memo:

20 Net worth outstanding (4) 52622.3 58936.6 64147.1 64169.3 51369.8 54084.1 55290.4 54023.5 54729.8 57114.3 58057.7 20

21 Disposable personal income 8889.4 9277.3 9915.7 10423.6 10952.9 11034.9 11215.6 11368.0 11417.3 11497.8 11628.6 21

(1) Sum of net investment (line 2), holding gains (lines 9 and 16), and other volume changes (line 19).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.100, line 42.
108 Z.1, June 9, 2011

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

Billions of dollars; not seasonally adjusted

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) 967.3 1942.2 1800.6 794.0 -2221.7 -782.1 322.9 725.1 -265.8 1058.6 67.2 1

 2 Net investment 253.2 -97.7 -344.8 -621.5 -990.5 552.0 -2.0 39.3 29.9 30.5 -52.2 2

 3 Net physical investment 208.3 261.6 359.1 372.0 288.8 -75.1 28.4 34.2 62.6 59.8 66.4 3

 4 Capital expenditures 861.6 965.8 1112.8 1156.5 1112.7 803.9 234.2 251.2 269.4 248.9 263.2 4

 5 - Consumption of fixed capital 687.5 735.0 791.7 831.8 868.0 867.1 213.9 215.0 216.1 218.5 221.1 5

 6 - Inventory valuation adjustment -34.3 -30.7 -38.0 -47.2 -44.1 11.9 -8.1 1.9 -9.3 -29.4 -24.3 6

 7 Net lending (+) or net borrowing (-) 167.5 -17.5 -138.2 -206.6 -943.3 691.7 19.6 58.8 51.9 61.5 -35.6 7

 8 Net acquisition of financial assets 776.6 943.7 698.3 1070.6 -612.6 555.0 124.4 183.4 237.5 241.2 118.1 8

 9 - Net increase in liabilities 609.0 961.2 836.5 1277.3 330.7 -136.7 104.8 124.6 185.6 179.7 153.7 9

10 Net corporate equity issues -122.7 -341.8 -565.7 -786.8 -336.0 -64.6 -50.1 -53.8 -84.6 -90.8 -83.0 10

 Holding gains on assets

11 at market value (2) 345.4 1435.4 1235.8 355.9 -1415.1 -1544.6 216.8 535.3 -453.9 790.0 -67.7 11

12 Real estate 333.0 1427.0 1220.0 345.8 -1355.9 -1568.6 212.0 550.6 -468.3 777.9 -71.7 12

13 Mutual fund shares 12.4 8.4 15.8 10.1 -59.2 23.9 4.9 -15.3 14.3 12.2 4.0 13

 Holding gains on assets less

14 liabilities at current cost (2) 168.1 142.7 138.5 203.0 -80.1 50.4 -12.9 -6.7 24.4 62.9 52.1 14

15 Equipment and software 67.3 66.0 96.4 8.1 62.6 -26.7 -15.9 7.7 7.7 13.3 16.6 15

16 Inventories (3) 35.6 31.3 8.6 54.7 -52.8 47.9 3.1 -14.4 16.7 31.0 35.5 16

17 Direct investment abroad 77.2 86.3 15.9 145.0 -162.7 5.5 0.0 0.0 0.0 -5.6 0.0 17

18 - Foreign direct investment in U.S. 12.1 41.0 -17.7 4.8 -72.8 -23.7 0.1 0.0 -0.0 -24.3 -0.0 18

19 Other volume changes (4) 200.7 461.8 771.0 856.6 264.0 160.2 121.1 157.3 133.7 175.0 134.9 19

 Memo:

20 Net worth outstanding (5) 11246.0 13188.2 14988.7 15782.7 13561.0 12778.9 13101.9 13827.0 13561.2 14619.8 14686.9 20

(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 less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.102, line 32.
Z.1, June 9, 2011 109

R.103 Change in Net Worth of Nonfarm Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) 664.3 1159.2 819.3 -234.1 -1522.8 -885.4 95.5 260.6 -349.4 328.1 -91.4 1

 2 Net capital transfers paid -5.0 -13.1 0.0 0.0 -3.3 -6.0 -1.1 -4.0 -2.0 -0.6 -0.6 2

 3 Net investment 96.7 -17.8 22.3 -31.6 -281.9 -55.4 -12.0 16.4 11.4 0.1 -15.3 3

 4 Net physical investment 72.3 81.0 89.5 74.5 53.0 -1.9 -11.8 15.4 11.9 9.8 -6.2 4

 5 Capital expenditures 210.9 230.7 251.4 260.5 246.0 190.2 35.7 62.9 59.5 57.8 42.2 5

 6 - Consumption of fixed capital 138.6 149.7 162.0 186.0 193.0 192.2 47.5 47.5 47.7 48.0 48.4 6

 7 Net lending (+) or net borrowing (-) -67.3 -68.0 -89.5 -74.5 -49.7 7.9 12.9 -11.4 -9.9 -9.1 6.8 7

 8 Net acquisition of financial assets 369.0 436.2 515.3 475.9 95.9 -283.4 -53.2 -46.7 -43.2 -19.9 -11.3 8

 9 - Net increase in liabilities 436.3 504.2 604.8 550.4 145.7 -291.3 -66.1 -35.3 -33.3 -10.8 -18.1 9

10 Proprietor’s net investment (2) 91.7 -30.9 22.3 -31.6 -285.2 -61.4 -13.1 12.4 9.4 -0.5 -15.9 10

11 Holding gains on real estate (3) 575.8 1203.4 798.5 -210.3 -1243.0 -824.6 132.2 296.1 -308.6 383.1 -22.6 11

12 Residential 500.1 865.4 507.0 -297.0 -930.5 -457.2 82.8 167.8 -202.4 203.7 -6.7 12

13 Nonresidential 75.7 338.0 291.6 86.7 -312.5 -367.4 49.4 128.3 -106.3 179.4 -15.9 13

14 Holding gains on assets at current cost (3) -2.1 -1.7 -1.5 7.4 6.1 -5.5 -23.5 -51.9 -52.2 -55.2 -53.5 14

15 Residential equipment and software -0.4 1.3 1.2 -0.3 0.2 -2.8 -0.5 -0.6 -0.5 -0.9 -0.6 15

16 Nonresidential equipment and software -5.4 -6.3 -5.1 2.3 6.3 -4.6 -23.7 -50.4 -53.1 -57.5 -56.0 16

17 Inventories 3.7 3.3 2.5 5.4 -0.5 1.9 0.6 -0.9 1.4 3.2 3.1 17

18 Other volume changes (4) -1.2 -11.6 -0.1 0.4 -0.7 6.1 0.1 4.0 2.0 0.6 0.6 18

 Memo:

19 Net worth outstanding (5) 5348.9 6508.1 7327.4 7093.3 5570.4 4685.0 4780.6 5041.2 4691.8 5019.8 4928.4 19

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 18).

(2) Shown on table F.103, line 30.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 31.
110 Z.1, June 9, 2011

F.100.a Nonprofit Organizations (1)

Billions of dollars

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

 

 1 Net lending (+) or net borrowing (-) 53.5 42.1 21.7 8.8 23.3 11.1 52.5 48.5 83.6 9.2 1.5 -6.0 39.6 1

 2 Net acquisition of financial assets 70.9 75.8 53.8 46.4 53.0 45.2 76.5 84.9 120.0 47.4 55.0 28.8 108.1 2

 3 Checkable deposits and currency 0.5 -1.0 1.3 4.0 1.2 1.7 -2.5 2.3 8.3 2.9 3.1 2.3 5.1 3

 4 Time and savings deposits -0.2 5.4 -6.2 10.4 -2.4 -1.5 0.2 0.2 1.1 0.3 1.1 0.6 0.8 4

 5 Money market fund shares -13.1 4.9 -1.2 32.9 4.0 -13.8 1.1 1.2 9.4 -1.8 7.1 3.8 4.5 5

 6 Security RPs (2) 0.4 3.1 -2.2 -1.3 6.0 0.5 0.2 0.2 1.4 0.0 1.3 0.7 0.8 6

 7 Credit market instruments 54.9 21.9 22.2 -17.6 10.9 25.5 16.6 38.8 36.7 23.1 36.4 46.7 32.6 7

 8 Open market paper 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 2.0 4.1 1.3 3.0 4.7 12.4 8

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

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

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

12 Corporate and foreign bonds 6.6 9.7 8.2 7.9 5.6 4.5 2.4 11.9 11.7 8.3 15.4 15.4 10.5 12

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

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

15 Mutual fund shares -1.0 2.6 1.2 -3.3 0.7 -0.7 1.5 1.3 2.4 -1.0 0.4 -3.3 -1.0 15

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

17 Trade receivables (2) 2.8 2.8 2.6 2.0 1.1 1.8 2.1 1.6 3.5 2.6 4.6 1.1 4.3 17

18 Equity in noncorporate business -0.1 -3.9 -6.0 15.2 10.6 7.0 0.2 10.2 8.4 9.7 12.5 12.0 16.3 18

19 Miscellaneous assets (2) 18.6 21.0 24.5 20.5 1.2 15.0 10.1 38.0 24.4 38.3 24.7 31.2 25.0 19

20 Net increase in liabilities 17.3 33.6 32.1 37.6 29.7 34.1 24.0 36.4 36.3 38.2 53.5 34.7 68.5 20

21 Credit market instruments 7.5 11.7 11.8 14.3 10.0 13.8 2.4 -0.6 11.0 10.6 23.4 13.5 19.3 21

22 Municipal securities 1.5 3.2 3.0 3.8 2.4 1.1 3.2 0.2 6.1 7.1 11.8 10.4 5.8 22

23 Bank loans n.e.c. -0.9 -4.8 -1.3 -2.4 2.3 4.9 6.7 8.7 0.3 4.0 2.7 -5.7 0.3 23

24 Other loans and advances -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 -0.1 0.0 -0.2 -0.1 0.1 -0.3 24

25 Commercial mortgages 6.9 13.4 9.9 12.5 5.6 7.8 -7.7 -9.4 4.6 -0.4 9.0 8.7 13.5 25

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

27 Miscellaneous liabilities (2) 7.4 5.8 10.9 13.8 13.8 14.3 16.5 29.1 17.3 18.7 21.4 17.0 45.4 27

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

(2) Not included in table F.100.
Z.1, June 9, 2011 111

L.100.a Nonprofit Organizations (1)

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

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

 

 1 Total financial assets 590.7 710.5 742.1 828.1 890.2 957.1 1025.5 1214.0 1414.1 1607.3 1793.9 1974.7 2003.8 1

 2 Checkable deposits and currency 17.0 15.9 17.3 21.3 22.5 24.1 21.6 23.9 32.1 35.0 38.1 40.4 45.5 2

 3 Time and savings deposits 1.5 6.8 0.6 11.1 8.7 7.1 7.3 7.5 8.6 8.9 10.0 10.6 11.4 3

 4 Money market fund shares 15.9 20.8 19.6 52.5 56.5 42.7 43.8 45.1 54.5 52.7 59.8 63.6 68.1 4

 5 Security RPs (2) 1.7 4.8 2.5 1.3 7.3 7.8 8.0 8.2 9.6 9.6 10.9 11.6 12.5 5

 6 Credit market instruments 229.3 251.2 273.4 255.9 266.8 292.3 308.9 347.7 384.4 407.6 443.9 490.6 523.2 6

 7 Open market paper 93.6 87.9 93.7 58.5 52.7 65.0 69.7 71.7 75.8 77.1 80.2 84.9 97.3 7

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

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

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

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

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

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

14 Mutual fund shares 10.2 15.8 15.3 15.9 17.7 18.5 19.0 24.6 30.4 34.5 38.7 42.7 38.8 14

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

16 Trade receivables (2) 25.7 28.5 31.1 33.1 34.3 36.1 38.1 39.7 43.2 45.8 50.3 51.5 55.8 16

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

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

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

20 Credit market instruments 154.4 166.1 177.9 192.3 202.3 216.1 218.5 217.9 228.9 239.5 262.9 276.4 295.7 20

21 Municipal securities 79.6 82.7 85.7 89.5 91.9 93.0 96.1 96.4 102.4 109.6 121.3 131.7 137.5 21

22 Bank loans n.e.c. 15.0 10.2 8.9 6.5 8.8 13.7 20.0 28.7 29.0 33.2 36.0 31.4 31.8 22

23 Other loans and advances 0.3 0.3 0.5 0.9 0.7 0.8 0.9 0.8 0.9 0.7 0.6 0.7 0.4 23

24 Commercial mortgages 59.5 72.9 82.8 95.3 100.9 108.7 101.4 92.0 96.6 96.0 105.0 112.5 126.0 24

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

26 Miscellaneous liabilities (2) 58.2 63.9 74.8 88.6 102.5 116.8 133.3 162.4 179.7 198.4 219.7 236.8 282.1 26

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

(2) Not included in table L.100.
112 Z.1, June 9, 2011

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 3659.3 3995.2 4197.0 4074.0 3726.9 3983.8 3904.0 3947.8 4020.8 4062.5 4111.8 1

 2 Personal current taxes 1208.6 1352.4 1488.7 1438.2 1140.0 1166.3 1134.7 1149.1 1178.2 1203.2 1302.3 2

 3 Taxes on production and imports 930.2 986.8 1027.2 1045.1 1024.7 1058.5 1045.9 1054.6 1060.8 1072.7 1075.5 3

 4 Taxes on corporate income 395.9 454.2 420.6 280.2 231.4 391.8 379.2 381.3 404.8 402.1 435.0 4

 5 Taxes from the rest of the world 12.1 14.0 14.7 16.8 13.2 12.6 12.6 12.8 12.1 13.0 13.5 5

 6 Contributions for govt. social insurance 877.4 926.4 964.2 992.1 975.1 1008.7 992.9 1007.1 1015.4 1019.4 929.0 6

 7 Income receipts on assets 111.9 129.6 144.2 146.9 162.2 163.4 159.3 162.2 165.6 166.5 167.9 7

 8 Current transfer receipts 126.7 136.0 149.2 171.4 193.5 195.6 191.4 193.9 198.0 199.2 201.6 8

 9 Current surplus of government enterprises -3.5 -4.2 -11.8 -16.7 -13.2 -13.3 -12.1 -13.1 -14.2 -13.7 -13.1 9

10 Current expenditures, NIPA basis 3916.4 4147.9 4430.0 4737.7 4998.8 5284.3 5189.6 5268.6 5316.4 5362.6 5394.3 10

11 Consumption expenditures 1977.9 2093.3 2217.8 2382.8 2411.5 2490.6 2464.7 2485.2 2502.9 2509.7 2530.2 11

12 Government social benefits 1494.0 1596.1 1701.2 1857.8 2112.3 2275.2 2224.6 2265.2 2295.7 2315.1 2317.3 12

13 Other current transfer payments 40.9 34.9 42.2 44.8 52.7 58.2 62.5 53.8 57.1 59.2 56.9 13

14 Interest payments 342.7 372.2 414.3 399.4 362.0 401.3 380.3 405.9 402.1 416.9 427.3 14

15 Subsidies 60.9 51.4 54.6 52.8 60.3 59.0 57.4 58.5 58.6 61.6 62.6 15

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

17 Net government saving, NIPA basis -257.1 -152.7 -233.0 -663.6 -1271.9 -1300.5 -1285.7 -1320.8 -1295.6 -1300.1 -1282.5 17

18 + Consumption of fixed capital 250.6 269.3 291.3 312.3 325.3 334.9 329.6 333.0 336.4 340.5 346.3 18

19 - Insurance and pension fund reserves (1) 0.7 0.1 0.1 -0.6 0.5 -1.7 -4.0 -0.8 -2.0 -0.2 -2.8 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.7 4.6 4.7 4.9 4.8 5.2 5.1 5.2 5.2 5.2 4.7 20

21 - Net capital transfers (2) 10.0 -14.7 -2.6 3.0 14.5 29.1 17.7 36.4 26.7 35.5 39.9 21

22 = Gross saving less net capital transfers -21.9 126.6 56.1 -358.6 -966.4 -998.2 -974.9 -1028.6 -989.1 -1000.1 -978.0 22

23 Gross investment 28.8 165.7 51.7 -424.6 -890.9 -906.0 -972.6 -1375.0 -618.0 -658.2 -940.5 23

24 Fixed investment 392.0 425.1 456.5 495.5 503.4 509.6 491.0 505.6 519.3 522.6 500.7 24

25 Nonproduced nonfinancial assets 9.8 -2.2 12.5 -5.3 6.3 14.6 13.7 13.4 16.3 14.8 15.0 25

26 Net lending (+) or net borrowing (-) -373.0 -257.1 -417.3 -914.9 -1400.6 -1430.1 -1477.3 -1894.1 -1153.6 -1195.6 -1456.1 26

27 Net acquisition of financial assets 148.6 136.0 146.5 575.1 250.9 397.0 344.9 172.8 470.0 600.4 -651.7 27

28 U.S. official reserve assets -14.4 -2.7 -0.4 4.2 51.9 1.6 2.7 0.5 4.1 -1.0 1.6 28

29 Checkable deposits and currency 21.7 2.7 20.4 321.6 -155.0 155.5 154.0 210.9 79.7 177.6 -833.9 29

30 Time and savings deposits 11.8 26.4 37.6 17.9 11.2 -0.4 37.3 -36.8 11.3 -13.3 25.2 30

31 Money market fund shares 5.1 6.8 3.4 -1.4 4.5 5.8 7.2 -2.9 8.3 10.5 0.5 31

32 Security RPs 10.0 13.5 6.6 -2.7 8.8 11.4 14.1 -5.7 16.4 20.7 1.0 32

33 Credit market instruments 60.1 88.5 26.0 8.9 244.4 87.5 80.2 -78.9 210.8 137.9 65.5 33

34 Open market paper 13.1 17.6 -11.3 -63.5 -53.5 -25.1 -21.5 -47.5 -18.5 -13.0 -38.7 34

35 Agency- and GSE-backed securities (3) 28.4 38.3 18.8 46.8 127.0 -34.8 -19.8 -80.6 -17.0 -21.9 -60.3 35

36 Municipal securities 0.4 0.5 0.2 -0.1 0.3 0.4 0.5 -0.2 0.6 0.7 0.0 36

37 Corporate and foreign bonds 9.0 12.1 6.0 -2.4 8.5 10.6 12.8 -4.9 15.2 19.1 0.9 37

38 Mortgages 13.1 18.2 8.5 10.3 21.9 3.3 9.8 -0.9 -0.9 5.2 11.1 38

39 Consumer credit 3.7 1.9 6.7 12.6 75.0 130.4 84.6 57.2 228.2 151.7 144.1 39

40 Other loans and advances (4) -7.7 -0.0 -2.9 5.2 65.2 2.7 13.8 -2.0 3.2 -4.0 8.5 40

41 Corporate equities 2.5 -4.4 2.7 279.2 18.2 -10.2 -63.0 86.2 -26.5 -37.7 43.5 41

42 Mutual fund shares 0.8 -1.3 0.5 14.3 -7.2 -7.4 -5.1 -4.6 -10.2 -9.8 -7.1 42

43 Trade receivables 19.5 2.2 8.0 1.4 -12.1 11.4 19.0 -28.7 12.9 42.4 2.6 43

44 Taxes receivable 40.9 5.1 -34.7 -64.9 4.1 49.5 9.2 46.8 40.0 101.9 52.5 44

45 Miscellaneous assets -9.2 -0.9 76.4 -3.4 82.2 92.5 89.3 -14.0 123.0 171.5 -3.1 45

46 Net increase in liabilities 521.7 393.1 563.8 1490.1 1651.5 1827.2 1822.2 2066.9 1623.5 1796.0 804.4 46

47 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 47

48 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 48

49 Treasury currency 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 -0.0 -1.1 0.0 0.0 49

50 Credit market instruments 385.9 291.0 420.3 1338.4 1532.1 1673.2 1742.6 1961.6 1508.1 1480.6 716.6 50

51 Savings bonds 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -3.8 -2.8 -2.4 -4.2 -4.4 51

52 Other Treasury securities (4) 214.3 140.9 236.3 1290.0 1426.4 1571.8 1613.1 1997.6 1381.4 1294.9 791.8 52

53 Budget agency securities -0.4 -0.3 -0.4 0.2 0.1 0.7 0.3 1.1 0.5 0.8 1.2 53

54 Municipal securities 171.3 153.1 190.4 50.6 108.3 104.1 133.0 -34.4 128.6 189.1 -72.0 54

55 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Trade payables 65.8 40.6 66.4 62.0 -13.4 62.8 58.8 32.0 43.4 116.8 42.1 56

57 Insurance reserves 1.1 1.5 1.2 1.0 1.1 0.9 -0.3 0.7 0.7 2.5 0.3 57

58 Miscellaneous liabilities (5) 68.0 59.4 76.6 89.5 81.4 90.6 21.1 72.5 72.5 196.2 45.5 58

59 Discrepancy -50.6 -39.2 4.3 66.0 -75.5 -92.2 -2.2 346.4 -371.2 -342.0 -37.5 59

 Memo:

60 Net govt. saving less fixed investment (6) -649.1 -577.8 -689.5 -1159.2 -1775.2 -1810.2 -1776.6 -1826.4 -1814.9 -1822.7 -1783.1 60

61 Adjustment between NIPA and FOF (7) 276.1 320.7 272.2 244.3 374.7 380.0 299.3 -67.7 661.3 627.1 327.0 61

62 Items to be financed (8) -373.0 -257.1 -417.3 -914.9 -1400.6 -1430.1 -1477.3 -1894.1 -1153.6 -1195.6 -1456.1 62

(1) 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.

(2) Table F.9, line 59 less line 12.

(3) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(4) Excludes transactions with state and local governments.

(5) 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.

(6) Line 17 less line 24.

(7) Line 18 less the sum of lines 19, 20, 21, 25, and 58.

(8) Line 59 plus line 60.
Z.1, June 9, 2011 113

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

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

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2398.5 2563.9 2731.3 3278.6 3430.6 3779.1 3501.7 3525.1 3657.1 3779.1 3612.9 1

 2 U.S. official reserve assets 35.3 34.5 36.4 41.9 94.6 95.4 92.2 89.8 96.3 95.4 102.1 2

 3 Checkable deposits and currency 93.3 94.8 113.6 433.6 278.5 433.6 300.4 373.4 391.5 433.6 207.6 3

 4 Time and savings deposits 184.8 211.2 248.8 266.6 277.8 277.4 284.0 266.9 270.4 277.4 280.3 4

 5 Money market fund shares 71.7 78.5 81.9 80.5 85.0 90.8 86.8 86.1 88.1 90.8 90.9 5

 6 Security RPs 141.2 154.6 161.2 158.6 167.3 178.7 170.9 169.4 173.5 178.7 179.0 6

 7 Credit market instruments 1133.8 1222.3 1248.4 1257.3 1501.7 1589.1 1524.4 1503.1 1556.5 1589.1 1608.3 7

 8 Open market paper 184.8 202.4 191.1 127.6 74.1 49.0 68.7 56.8 52.2 49.0 39.3 8

 9 Agency- and GSE-backed securities (1) 401.6 439.9 458.7 505.5 632.5 597.7 627.5 607.4 603.2 597.7 582.6 9

10 Municipal securities 5.0 5.5 5.7 5.6 5.9 6.3 6.1 6.0 6.2 6.3 6.3 10

11 Corporate and foreign bonds 127.2 139.4 145.3 142.9 151.4 162.0 154.6 153.4 157.2 162.0 162.2 11

12 Mortgages 228.5 246.7 255.2 265.5 287.4 290.7 289.8 289.6 289.4 290.7 293.5 12

13 Consumer credit 89.8 91.7 98.4 111.0 186.0 316.4 209.8 222.6 280.3 316.4 355.2 13

14 Other loans and advances (2) 96.8 96.8 93.9 99.1 164.4 167.1 167.8 167.3 168.1 167.1 169.2 14

15 Corporate equities 96.8 106.0 111.6 274.9 189.6 156.4 165.2 154.2 156.0 156.4 170.6 15

16 Mutual fund shares 29.6 32.5 33.8 33.3 35.1 32.5 35.9 30.6 31.4 32.5 32.6 16

17 Trade receivables 215.7 217.9 225.8 227.3 215.2 226.6 220.2 215.7 220.6 226.6 227.6 17

18 Taxes receivable 232.6 285.1 342.5 389.3 416.1 448.9 420.9 429.9 442.4 448.9 458.2 18

19 Miscellaneous assets 163.8 126.3 127.2 115.3 169.8 249.7 201.0 206.0 230.3 249.7 255.7 19

20 Total liabilities 7792.0 8179.7 8744.2 10233.8 11882.2 13706.6 12393.9 12753.0 13194.5 13706.6 13960.9 20

21 SDR allocations 7.0 7.4 7.7 7.5 55.4 54.4 53.6 52.2 55.0 54.4 56.0 21

22 SDR certificates 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 22

23 Treasury currency 27.5 28.1 27.4 26.6 26.2 25.9 26.2 26.2 25.9 25.9 25.9 23

24 Credit market instruments 6064.3 6355.3 6775.6 8114.0 9646.1 11319.3 10154.5 10489.4 10898.0 11319.3 11570.0 24

25 Savings bonds 205.1 202.4 196.4 194.0 191.2 187.9 190.2 189.6 188.7 187.9 186.8 25

26 Other Treasury securities (2) 3991.5 4132.4 4368.7 5658.7 7085.1 8656.9 7563.3 7902.6 8297.1 8656.9 8928.5 26

27 Budget agency securities 23.8 23.5 23.1 23.3 23.5 24.2 23.6 23.9 24.0 24.2 24.5 27

28 Municipal securities 1843.9 1996.9 2187.3 2237.9 2346.3 2450.3 2377.4 2373.3 2388.3 2450.3 2430.2 28

29 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Trade payables 684.7 725.3 791.7 853.7 840.3 904.0 863.2 883.3 893.0 904.0 920.2 30

31 Insurance reserves 42.7 44.2 45.4 46.4 47.5 48.4 47.4 47.6 47.8 48.4 48.5 31

32 Miscellaneous liabilities (4) 963.7 1017.2 1094.2 1183.5 1261.6 1349.4 1243.8 1249.1 1269.6 1349.4 1335.1 32

(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.
114 Z.1, June 9, 2011

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets -35.4 -46.6 -76.4 -82.4 -35.1 -31.9 -48.4 -24.7 -21.5 -33.1 -33.1 1

 2 Checkable deposits and currency 0.1 0.2 0.2 0.1 2.8 10.1 7.3 8.9 10.8 13.5 13.1 2

 3 Time and savings deposits 5.6 0.4 1.6 1.1 3.3 4.2 4.0 4.1 4.2 4.5 4.3 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 0.7 0.3 0.2 0.1 -0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 5

 6 Credit market instruments 33.8 34.3 84.8 71.8 114.1 78.6 106.8 67.9 86.6 53.0 51.2 6

 7 Open market paper 0.6 0.3 -4.5 10.1 -4.1 -5.4 -7.6 -5.5 -4.0 -4.4 -4.2 7

 8 Treasury securities 1.4 11.8 32.8 10.1 97.9 140.2 85.0 220.2 217.4 38.0 36.7 8

 9 Agency- and GSE-backed securities 16.1 2.6 26.7 13.7 -23.4 -97.5 -10.0 -187.5 -166.9 -25.6 -24.7 9

10 Corporate and foreign bonds 15.9 19.6 30.3 38.2 44.6 42.2 40.3 41.5 40.8 46.0 44.4 10

11 Mortgages -0.2 -0.1 -0.5 -0.3 -0.9 -0.9 -0.9 -0.8 -0.7 -1.0 -1.0 11

12 Corporate equities -49.0 -107.9 -209.0 -171.1 -159.6 -120.2 -143.8 -120.0 -120.0 -96.9 -93.6 12

13 Mutual fund shares -7.0 -0.2 20.1 15.5 -5.2 -2.6 -9.7 12.0 -8.0 -4.8 -4.6 13

14 Miscellaneous assets -19.8 26.3 25.6 0.0 9.6 -2.0 -13.0 2.5 4.9 -2.2 -3.4 14

15 Unallocated insurance contracts (1) -16.4 12.0 29.0 24.0 5.6 -1.9 -10.4 4.0 4.0 -5.2 -5.0 15

16 Contributions receivable -1.9 -0.2 -0.2 -0.1 -0.4 -0.9 -2.0 -0.9 -0.4 -0.2 -0.0 16

17 Other -1.5 14.5 -3.1 -23.9 4.4 0.8 -0.6 -0.6 1.4 3.1 1.6 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; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 107.8 100.1 108.1 30.6 70.1 70.1 78.9 72.4 35.0 94.2 84.5 1

 2 Checkable deposits and currency 0.2 0.2 0.4 0.3 1.4 1.4 2.6 2.9 0.2 -0.2 0.2 2

 3 Time and savings deposits 0.7 0.5 3.0 -0.8 1.4 0.2 -0.1 0.9 -0.9 1.0 -0.5 3

 4 Money market fund shares 1.9 3.4 3.4 2.3 0.6 -0.1 0.2 0.0 -0.4 -0.2 -0.2 4

 5 Security RPs 0.3 0.4 3.1 7.2 3.1 0.9 0.4 -19.7 21.9 1.2 0.8 5

 6 Credit market instruments 11.4 24.1 17.7 18.9 -2.5 29.4 1.3 29.1 10.8 76.4 81.7 6

 7 Open market paper 2.4 -0.1 -0.3 0.2 -6.4 -6.3 -12.1 -8.7 -0.3 -4.2 3.4 7

 8 Treasury securities 2.1 2.4 5.9 5.3 27.9 35.8 38.6 42.8 20.8 41.0 35.3 8

 9 Agency- and GSE-backed securities 0.7 14.0 1.4 7.7 -25.7 -0.6 -28.1 -7.0 3.7 28.8 32.1 9

10 Corporate and foreign bonds 6.3 8.1 9.5 4.5 -1.8 -1.6 -1.8 -3.4 -12.1 10.9 10.9 10

11 Mortgages 0.0 -0.2 1.2 1.2 3.5 2.2 4.8 5.3 -1.3 0.0 0.0 11

12 Corporate equities 6.9 21.4 20.7 -13.6 -16.0 9.1 9.0 8.9 8.6 10.0 14.0 12

13 Mutual fund shares 77.0 75.0 68.0 5.0 70.0 46.0 100.0 64.0 0.0 20.0 20.0 13

14 Miscellaneous assets 9.4 -25.0 -8.1 11.3 12.0 -16.9 -34.5 -13.6 -5.3 -14.0 -31.5 14

15 Unallocated insurance contracts (2) 15.0 -13.4 -2.7 14.2 4.5 -2.5 -17.7 10.6 1.2 -4.0 -4.0 15

16 Contributions receivable 0.0 -1.8 4.7 0.8 2.9 -0.4 -0.2 -0.4 -0.4 -0.4 -0.4 16

17 Other -5.6 -9.8 -10.1 -3.7 4.6 -14.0 -16.6 -23.8 -6.1 -9.6 -27.1 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.

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total held at: 206.4 247.4 275.7 247.5 198.6 88.7 -130.8 489.9 -104.3 100.0 ND 1

 2 Commercial banking 7.3 26.7 8.7 37.4 27.5 21.0 10.4 23.2 17.1 33.3 ND 2

 3 Saving institutions 0.1 3.9 13.5 6.8 3.3 5.6 6.3 11.5 3.7 0.9 ND 3

 4 Credit unions 1.6 3.9 5.0 7.2 8.7 3.0 4.5 4.1 3.3 0.2 ND 4

 5 Life insurance companies 28.2 12.2 17.9 28.9 -6.0 4.3 -5.9 21.3 1.2 0.5 ND 5

 6 Money market mutual funds 7.0 34.0 44.0 46.0 -40.0 -23.0 -40.0 -8.0 -24.0 -20.0 ND 6

 7 Mutual funds 76.8 108.2 121.4 -119.1 151.4 120.6 157.9 31.8 210.3 82.4 ND 7

 8 Other self-directed accounts 85.4 58.6 65.1 240.3 53.7 -42.7 -263.9 405.9 -315.9 2.8 ND 8

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

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund sector (line 6).
Z.1, June 9, 2011 115

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

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

2005 2006 2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2281.3 2529.5 2596.0 1853.5 2104.7 2262.0 2170.2 2051.7 2154.3 2262.0 2318.6 1

 2 Checkable deposits and currency 5.3 5.5 5.8 5.9 8.7 18.8 10.5 12.8 15.4 18.8 22.1 2

 3 Time and savings deposits 42.0 42.3 44.0 45.0 48.3 52.5 49.3 50.4 51.4 52.5 53.6 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 5.1 5.4 5.6 5.8 5.7 5.7 5.7 5.7 5.7 5.7 5.7 5

 6 Credit market instruments 468.5 502.8 587.6 659.3 773.4 852.0 800.1 817.1 838.7 852.0 864.8 6

 7 Open market paper 5.1 5.5 1.0 11.0 6.9 1.6 5.0 3.6 2.6 1.6 0.5 7

 8 Treasury securities 60.0 71.8 104.6 114.8 212.7 352.8 233.9 289.0 343.3 352.8 362.0 8

 9 Agency- and GSE-backed securities 198.5 201.1 227.8 241.5 218.2 120.7 215.7 168.8 127.1 120.7 114.5 9

10 Corporate and foreign bonds 200.6 220.2 250.6 288.7 333.3 375.5 343.4 353.8 364.0 375.5 386.6 10

11 Mortgages 4.2 4.1 3.6 3.2 2.3 1.5 2.1 1.9 1.7 1.5 1.2 11

12 Corporate equities 1392.8 1520.7 1423.8 777.1 805.2 810.0 819.1 702.3 750.3 810.0 832.1 12

13 Mutual fund shares 253.4 296.4 338.6 228.0 286.3 323.5 301.6 285.0 303.2 323.5 335.3 13

14 Miscellaneous assets 114.3 156.4 190.7 132.4 177.1 199.4 183.8 178.5 189.6 199.4 205.0 14

15 Unallocated insurance contracts (1) 88.8 116.5 154.2 119.9 160.5 182.9 167.9 163.0 173.8 182.9 188.0 15

16 Contributions receivable 1.8 1.6 1.4 1.3 0.9 0.0 0.4 0.2 0.1 0.0 0.0 16

17 Other 23.7 38.2 35.1 11.3 15.7 16.5 15.5 15.4 15.7 16.5 16.9 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; amounts outstanding end of period, not seasonally adjusted

 1 Total financial assets 3107.3 3553.3 3814.5 2699.2 3366.3 3849.7 3538.4 3264.1 3574.2 3849.7 3953.8 1

 2 Checkable deposits and currency 5.5 5.7 6.0 6.4 7.7 9.1 8.4 9.1 9.2 9.1 9.2 2

 3 Time and savings deposits 20.3 20.8 23.7 22.9 24.3 24.6 24.3 24.5 24.3 24.6 24.4 3

 4 Money market fund shares 86.7 90.1 93.5 95.7 96.4 96.3 96.4 96.4 96.3 96.3 96.2 4

 5 Security RPs 16.6 17.0 20.1 27.3 30.5 31.4 30.6 25.6 31.1 31.4 31.6 5

 6 Credit market instruments 231.4 255.6 273.3 292.1 289.6 319.1 290.0 297.2 299.9 319.1 339.5 6

 7 Open market paper 26.4 26.3 26.0 26.1 19.7 13.4 16.7 14.5 14.5 13.4 14.2 7

 8 Treasury securities 56.5 59.0 64.9 70.2 98.1 133.9 107.7 118.4 123.6 133.9 142.7 8

 9 Agency- and GSE-backed securities 53.5 67.5 68.9 76.6 50.9 50.3 43.9 42.2 43.1 50.3 58.3 9

10 Corporate and foreign bonds 89.3 97.4 106.9 111.4 109.6 108.0 109.1 108.3 105.3 108.0 110.7 10

11 Mortgages 5.6 5.4 6.6 7.8 11.3 13.5 12.5 13.8 13.5 13.5 13.5 11

12 Corporate equities 1048.9 1204.1 1249.5 822.7 1030.6 1202.2 1099.1 971.6 1082.3 1202.2 1268.8 12

13 Mutual fund shares 1332.0 1584.0 1772.0 1138.0 1531.0 1803.0 1628.0 1501.0 1679.0 1803.0 1818.2 13

14 Miscellaneous assets 365.9 376.2 376.4 294.1 356.2 364.1 361.7 338.6 352.0 364.1 365.8 14

15 Unallocated insurance contracts (2) 249.6 271.4 277.1 197.7 252.3 274.6 262.0 245.0 260.0 274.6 283.2 15

16 Contributions receivable 43.0 41.2 45.8 46.7 49.6 49.2 49.5 49.4 49.3 49.2 49.1 16

17 Other 73.3 63.6 53.4 49.7 54.3 40.3 50.2 44.2 42.7 40.3 33.5 17

(1) Includes 401(k) type plans.

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

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

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

 1 Total held at: 3652.0 4207.0 4784.0 3585.0 4251.0 4710.0 4390.0 4156.0 4472.0 4710.0 ND 1

 2 Commercial banking 175.3 202.0 210.7 248.1 275.5 296.5 278.1 283.9 288.2 296.5 ND 2

 3 Saving institutions 53.8 57.6 71.2 77.9 81.2 86.8 82.7 85.6 86.5 86.8 ND 3

 4 Credit unions 49.3 53.2 58.2 65.5 74.2 77.2 75.3 76.3 77.2 77.2 ND 4

 5 Life insurance companies 381.0 406.0 426.0 381.6 405.5 431.0 413.3 401.9 417.0 431.0 ND 5

 6 Money market mutual funds 142.0 176.0 220.0 266.0 226.0 203.0 216.0 214.0 208.0 203.0 ND 6

 7 Mutual funds 1494.0 1772.0 1992.0 1272.0 1664.0 1927.0 1746.0 1620.0 1796.0 1927.0 ND 7

 8 Other self-directed accounts 1356.6 1540.2 1805.9 1273.9 1524.6 1688.5 1578.5 1474.2 1599.0 1688.5 ND 8

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

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

 sector (line 6).
116

Z.1, June 9, 2011 Flow of Funds Matrix for 2010

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic Instrument

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial Rest of All DiscrepOrganizations Business Governments Government Sectors Sectors the World Sectors ancy

 U S U S U S U S U S U S U S U S 

 (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17)

 1 Gross saving less net cap. transfers -- 1979.0 -- 1389.3 -- 304.5 -- -1302.7 -- 2370.2 -- 339.1 -- 481.7 -- 3190.9 -- 

 2 Capital consumption -- 1172.0 -- 1090.3 -- 205.2 -- 129.7 -- 2597.1 -- 151.2 -- -- -- 2748.3 -- 

 3 Net saving (1 less 2) -- 807.0 -- 299.1 -- 99.3 -- -1432.4 -- -227.0 -- 187.9 -- 481.7 -- 442.6 -- 

 4 Gross investment (5 plus 11) 2189.1 -- 1451.8 -- 333.9 -- -1239.8 -- 2734.9 -- -21.1 -- 235.1 -- 2948.9 -- 242.1

 5 Capital expenditures 1409.0 -- 1266.1 -- 353.0 -- 171.2 -- 3199.2 -- 155.0 -- 0.0 -- 3354.3 -- -163.3

 6 Consumer durables 1017.2 -- -- -- -- -- -- -- 1017.2 -- -- -- -- -- 1017.2 -- -- 

 7 Residential 283.4 -- 52.3 -- 6.2 -- 1.3 -- 343.3 -- 4.7 -- -- -- 348.0 -- -- 

 8 Nonresidential 120.4 -- 1144.5 -- 332.6 -- 169.5 -- 1767.1 -- 150.4 -- -- -- 1917.4 -- -- 

 9 Inventory change -- -- 71.7 -- -- -- -- -- 71.7 -- -- -- -- -- 71.7 -- -- 

10 Nonproduced nonfinancial assets -12.0 -- -2.5 -- 14.3 -- 0.3 -- -0.0 -- -- -- 0.0 -- -- -- -- 

11 Net lending (+) or net borrowing (-) 780.1 -- 185.7 -- -19.1 -- -1411.0 -- -464.3 -- -176.2 -- 235.1 -- -405.4 -- 405.4

12 Total financial assets 613.3 -- 625.2 -- 124.9 -- 284.1 -- 1647.5 -- -816.0 -- 1092.3 -- 1923.8 -- -- 

13 Total liabilities -- -166.8 -- 439.5 -- 144.0 -- 1695.1 -- 2111.9 -- -639.8 -- 857.2 -- 2329.2 -- 

14 U.S. official reserve assets -- -- -- -- -- -- 1.6 0.0 1.6 0.0 0.3 -- 0.0 1.8 1.8 1.8 -- 

15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- -- 0.0 0.0 -- 

16 Treasury currency -- -- -- -- -- -- -- -0.3 -- -0.3 0.9 -- -- -- 0.9 -0.3 -1.1

17 Foreign deposits 5.1 -- 40.5 -- -- -- -- -- 45.6 -- 8.7 -- -- 84.8 54.3 84.8 30.5

18 Interbank claims -- -- -- -- -- -- -- -- -- -- -106.9 -177.7 -50.6 -- -157.5 -177.7 -20.2

19 Checkable dep. and currency -106.5 -- 219.9 -- 6.7 -- 148.9 -- 269.0 -- -30.6 266.3 29.1 -- 267.4 266.3 -1.1

20 Time and savings deposits 246.7 -- -33.4 -- -0.4 -- 0.1 -- 213.0 -- -100.1 116.1 3.3 -- 116.1 116.1 -- 

21 Money market fund shares -147.1 -- -132.0 -- 5.8 -- -- -- -273.3 -- -232.8 -502.9 3.2 -- -502.9 -502.9 -- 

22 Fed. funds and security RPs -- -- 5.7 -- 11.4 -- -- -- 17.1 -- -2.3 -199.8 -130.2 -- -115.3 -199.8 -84.5

23 Credit market instruments 102.6 -262.7 12.4 35.7 14.1 105.0 85.3 1580.2 214.4 1458.1 -279.6 -992.0 632.7 101.3 567.5 567.5 -- 

24 Open market paper 28.8 -- 16.4 24.5 -25.1 -- -- -- 20.1 24.5 -100.9 -99.1 0.8 -5.4 -79.9 -79.9 -- 

25 Treasury securities 338.2 -- -2.5 -- 11.1 -- -- 1579.6 346.7 1579.6 552.3 -- 680.5 -- 1579.6 1579.6 -- 

26 Agency- and GSE-backed sec. 4.0 -- -0.1 -- 12.3 -- -47.2 0.7 -30.9 0.7 -14.6 -46.9 -0.8 -- -46.2 -46.2 -- 

27 Municipal securities 74.2 4.0 -3.8 8.3 0.4 104.1 -- -- 70.8 116.4 29.6 -- 16.0 -- 116.4 116.4 -- 

28 Corporate and fgn. bonds -331.9 -- -- 419.9 10.3 -- 0.3 -- -321.3 419.9 254.3 -618.0 -42.6 88.6 -109.6 -109.6 -- 

29 Bank loans n.e.c. -- 76.5 -- -109.5 -- -- -- -- -- -33.0 -105.4 -90.2 -- 17.9 -105.4 -105.4 -- 

30 Other loans and advances 0.1 2.4 -- -101.5 -- 0.9 3.6 -- 3.7 -98.2 -225.1 -144.7 -21.3 0.3 -242.7 -242.7 -- 

31 Mortgages -10.9 -301.5 -5.1 -205.9 5.1 -- -1.8 0.0 -12.6 -507.4 -487.9 6.9 -- -- -500.5 -500.5 -- 

32 Consumer credit -- -44.2 7.5 -- -- -- 130.4 -- 137.9 -44.2 -182.1 -- -- -- -44.2 -44.2 -- 

33 Corporate equities -89.9 -- -- -279.2 -25.3 -- 15.1 -- -100.2 -279.2 -2.3 191.3 93.2 78.6 -9.3 -9.3 -- 

34 Mutual fund shares 322.3 -- 16.7 -- -7.4 -- -- -- 331.5 -- 34.9 384.2 17.8 -- 384.2 384.2 -- 

35 Trade credit -- 18.1 110.3 169.1 11.7 39.1 -0.3 23.7 121.7 250.0 -8.6 -52.0 20.8 34.2 133.9 232.2 98.4

36 Security credit 25.7 75.2 -- -- -- -- -- -- 25.7 75.2 97.9 48.4 0.0 0.0 123.6 123.6 -- 

37 Life insurance reserves 17.2 -- -- -- -- -- -- 0.9 17.2 0.9 -- 16.4 -- -- 17.2 17.2 -- 

38 Pension fund reserves 187.7 -- -- -- -- -- -- -- 187.7 -- -- 187.7 -- -- 187.7 187.7 -- 

39 Taxes payable -- -- -- -0.9 12.6 -- 36.9 -- 49.5 -0.9 -- 13.0 -- -- 49.5 12.1 -37.4

40 Equity in noncorp. business 5.7 -- -- 3.6 -- -- -- -- 5.7 3.6 -- 2.1 -- -- 5.7 5.7 -- 

41 Miscellaneous 43.8 2.7 385.1 511.3 95.9 -- -3.5 90.6 521.4 604.5 -195.5 59.1 473.3 556.4 799.2 1220.0 420.9

42 Sector discrepancies (1 less 4) -210.0 -- -62.4 -- -29.4 -- -62.8 -- -364.7 -- 360.2 -- 246.6 -- 242.1 -- 242.1

General notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
117

Z.1, June 9, 2011 Flow of Funds Matrix for 2010

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

Households State Domestic Domestic Instrument

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial Rest of All DiscrepOrganizations Business Governments Government Sectors Sectors the World Sectors ancy

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

 (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17)

 1 Total financial assets 47682.9 -- 17656.1 -- 2739.3 -- 1570.9 -- 69649.2 -- 64239.9 -- 16907.8 -- 150796.9 -- -4471.6

 2 Total liabilities and equity -- 13948.4 -- 39768.4 -- 3135.2 -- 11102.5 -- 67954.5 -- 64833.1 -- 13537.7 -- 146325.3 -- 

 3 Total liabilities -- 13948.4 -- 18912.6 -- 3135.2 -- 11102.5 -- 47098.7 -- 60484.2 -- 9138.6 -- 116721.5 -- 

 4 U.S. official reserve assets -- -- -- -- -- -- 95.4 54.4 95.4 54.4 37.0 -- 54.4 121.4 186.8 175.8 -11.0

 5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- -- -- 5.2 5.2 -- 

 6 Treasury currency -- -- -- -- -- -- -- 25.9 -- 25.9 43.5 -- -- -- 43.5 25.9 -17.6

 7 Foreign deposits 51.3 -- 72.1 -- -- -- -- -- 123.3 -- 105.9 -- -- 853.1 229.2 853.1 623.9

 8 Interbank claims -- -- -- -- -- -- -- -- -- -- 1019.6 1100.8 19.4 -- 1039.0 1100.8 61.8

 9 Checkable dep. and currency 273.5 -- 876.0 -- 91.5 -- 342.1 -- 1583.1 -- 381.2 2359.8 389.8 -- 2354.1 2359.8 5.7

10 Time and savings deposits 6458.0 -- 788.0 -- 275.5 -- 2.0 -- 7523.4 -- 676.3 8432.4 232.8 -- 8432.4 8432.4 -- 

11 Money market fund shares 1151.2 -- 583.6 -- 90.8 -- -- -- 1825.6 -- 845.9 2755.3 83.8 -- 2755.3 2755.3 -- 

12 Fed. funds and security RPs -- -- 13.7 -- 178.7 -- -- -- 192.4 -- 846.9 1233.5 -99.1 -- 940.2 1233.5 293.3

13 Credit market instruments 4254.7 13386.2 316.0 10876.1 1365.7 2464.7 754.6 9385.6 6691.0 36112.7 37291.1 14171.3 8417.4 2115.4 52399.5 52399.5 -- 

14 Open market paper 63.4 -- 73.3 82.9 49.0 -- -- -- 185.8 82.9 679.4 578.6 192.4 396.0 1057.5 1057.5 -- 

15 Treasury securities 1114.4 -- 84.3 -- 516.7 -- -- 9361.5 1715.4 9361.5 3268.3 -- 4377.8 -- 9361.5 9361.5 -- 

16 Agency- and GSE-backed sec. 108.7 -- 13.0 -- 448.4 -- 149.2 24.2 719.3 24.2 5712.4 7574.0 1166.5 -- 7598.2 7598.2 -- 

17 Municipal securities 1083.8 268.2 28.0 206.8 6.3 2450.3 -- -- 1118.1 2925.3 1734.2 -- 73.0 -- 2925.3 2925.3 -- 

18 Corporate and fgn. bonds 1763.1 -- -- 4559.6 161.1 -- 0.9 -- 1925.1 4559.6 6960.4 5190.5 2446.7 1582.1 11332.2 11332.2 -- 

19 Bank loans n.e.c. -- 263.1 -- 1314.5 -- -- -- -- -- 1577.6 1874.1 181.4 -- 115.1 1874.1 1874.1 -- 

20 Other loans and advances 29.7 136.1 -- 1350.4 -- 14.4 181.5 -- 211.2 1501.0 1624.0 473.2 161.1 22.2 1996.3 1996.3 -- 

21 Mortgages 91.6 10284.1 61.3 3361.9 184.1 -- 106.6 0.0 443.6 13646.0 13376.1 173.8 -- -- 13819.8 13819.8 -- 

22 Consumer credit -- 2434.7 56.0 -- -- -- 316.4 -- 372.4 2434.7 2062.3 -- -- -- 2434.7 2434.7 -- 

23 Corporate equities 8239.9 -- -- 14227.8 115.1 -- 41.3 -- 8396.3 14227.8 11494.1 4334.8 3071.3 4399.1 22961.6 22961.6 -- 

24 Mutual fund shares 4717.2 -- 222.9 -- 32.5 -- -- -- 4972.7 -- 2595.2 7934.5 366.6 -- 7934.5 7934.5 -- 

25 Trade credit -- 259.3 2715.4 2105.5 183.2 670.5 43.4 233.5 2942.0 3268.7 135.6 18.1 116.7 95.4 3194.3 3382.2 187.8

26 Security credit 694.3 278.2 -- -- -- -- -- -- 694.3 278.2 520.5 936.6 0.0 0.0 1214.8 1214.8 -- 

27 Life insurance reserves 1278.3 -- -- -- -- -- -- 48.4 1278.3 48.4 -- 1229.9 -- -- 1278.3 1278.3 -- 

28 Pension fund reserves 13092.4 -- -- -- -- -- -- -- 13092.4 -- -- 13092.4 -- -- 13092.4 13092.4 -- 

29 Taxes payable -- -- -- 133.1 298.0 -- 150.8 -- 448.9 133.1 -- -82.0 -- -- 448.9 51.1 -397.8

30 Equity in noncorp. business 6642.2 -- -- 6628.1 -- -- -- -- 6642.2 6628.1 -- 14.2 -- -- 6642.2 6642.2 -- 

31 Miscellaneous 830.0 24.7 12068.3 5797.9 108.4 -- 141.4 1349.4 13148.0 7172.0 8241.8 7301.6 4254.7 5953.3 25644.6 20426.9 -5217.6

General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is

 the sum of corporate equities (line 25) and equity in noncorporate business (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a

 financial asset without a corresponding liability.
118 Z.1, June 9, 2011

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

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

2004 2005 2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1

 1 Assets 63657.9 71141.4 77605.1 78538.9 65635.7 68161.5 69253.8 67954.3 68645.9 71062.7 71932.4 1

 2 Nonfinancial assets 24590.5 28290.5 29523.2 27972.4 24397.3 23678.6 23850.7 23973.8 23381.1 23379.8 23085.3 2

 3 Financial assets 39067.3 42850.9 48081.9 50566.5 41238.3 44482.9 45403.1 43980.5 45264.8 47682.9 48847.1 3

 4 Deposits 5732.4 6139.9 6753.1 7406.1 8013.1 7935.7 7867.6 7795.1 7815.1 7933.9 8038.1 4

 5 Credit market instruments 2999.2 3326.5 3462.5 4072.8 3966.9 4119.2 4169.6 4253.0 4172.6 4254.7 4128.8 5

 6 Equity shares at market value 15990.0 17396.6 20357.6 20940.2 12436.0 15991.0 16675.0 14903.6 16335.7 18001.8 19047.6 6

 7 Directly held 7483.9 8093.0 9643.7 9627.0 5738.8 7429.3 7676.2 6955.9 7500.8 8239.9 8791.9 7

 8 Indirectly held 8506.0 9303.7 10713.9 11313.2 6697.2 8561.7 8998.8 7947.7 8834.9 9761.9 10255.7 8

 9 Life insurance companies 1028.9 1140.1 1334.7 1466.8 956.9 1220.3 1285.7 1173.8 1291.4 1420.5 1508.0 9

10 Private pension funds 3287.8 3630.8 4155.6 4260.5 2471.9 3055.6 3206.2 2813.5 3123.3 3437.1 3578.5 10

11 Defined benefit plans 1452.9 1567.7 1729.9 1660.7 903.5 975.2 999.0 862.4 926.4 1004.3 1031.5 11

12 Defined contribution plans 1835.0 2063.1 2425.7 2599.8 1568.5 2080.3 2207.2 1951.1 2196.9 2432.8 2546.9 12

13 State and local govt. retirement funds 1761.2 1887.3 2129.0 2221.0 1338.3 1684.5 1778.7 1570.0 1741.0 1939.0 2023.8 13

14 Federal government retirement funds 99.2 112.6 138.1 149.1 85.6 119.4 127.8 112.6 115.8 133.8 142.2 14

15 Mutual funds 2329.0 2532.9 2956.4 3215.8 1844.4 2481.9 2600.4 2277.9 2563.4 2831.5 3003.2 15

16 Other 14345.8 15987.8 17508.8 18147.4 16822.4 16437.0 16691.0 17028.9 16941.4 17492.4 17632.7 16

17 Liabilities 11035.6 12204.8 13458.1 14369.6 14265.8 14077.4 13963.3 13930.8 13916.0 13948.4 13874.7 17

18 Net worth 52622.3 58936.6 64147.1 64169.3 51369.8 54084.1 55290.4 54023.5 54729.8 57114.3 58057.7 18

 Memo:

19 Equity shares excluding defined benefit plans 12756.6 13922.1 16477.2 17037.1 10181.8 13317.1 13882.4 12458.5 13654.4 15043.4 15976.5 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) 25.1 24.5 26.2 26.7 18.9 23.5 24.1 21.9 23.8 25.3 26.5 20

21 Financial assets (line 3) 40.9 40.6 42.3 41.4 30.2 35.9 36.7 33.9 36.1 37.8 39.0 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.