110 Z.1, December 10, 2009

F.100.a Nonprofit Organizations (1)

Billions of dollars

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Net financial investment 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. 0.2 -5.2 -1.1 -2.8 2.4 5.0 6.4 8.9 0.2 4.8 1.2 -6.2 0.1 23

24 Other loans and advances -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 -0.1 0.0 -0.2 -0.1 0.1 -0.3 24

25 Commercial mortgages 5.8 13.8 9.7 12.9 5.4 7.7 -7.4 -9.6 4.7 -1.2 10.5 9.3 13.7 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, December 10, 2009 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. 15.5 10.3 9.2 6.4 8.8 13.8 19.9 28.8 29.0 34.1 35.3 30.2 30.3 22

23 Other loans and advances 0.3 0.3 0.5 0.9 0.7 0.8 0.9 0.8 0.9 0.7 0.6 0.7 0.4 23

24 Commercial mortgages 59.0 72.8 82.5 95.5 100.9 108.5 101.5 91.9 96.6 95.1 105.6 113.7 127.5 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, December 10, 2009

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 2008 2009

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Current receipts, NIPA basis 3659.3 3995.2 4209.2 4057.6 4172.0 3974.5 4087.0 3996.8 3775.0 3728.4 3730.4 1

 2 Personal current taxes 1208.6 1352.4 1490.9 1432.4 1531.8 1326.2 1437.3 1434.3 1187.3 1082.6 1089.1 2

 3 Taxes on production and imports 930.2 986.8 1028.7 1047.3 1042.5 1050.8 1058.5 1037.3 1018.8 1019.6 1025.4 3

 4 Taxes on corporate income 395.9 454.2 426.7 263.3 295.0 288.4 275.7 194.2 244.2 281.2 287.2 4

 5 Taxes from the rest of the world 12.1 14.0 14.2 15.0 14.9 14.3 14.7 15.9 13.5 12.1 10.7 5

 6 Contributions for govt. social insurance 877.4 926.4 964.2 995.6 990.3 993.9 999.9 998.4 974.8 976.0 978.5 6

 7 Income receipts on assets 111.9 129.6 143.3 144.2 143.7 145.1 143.2 144.6 156.5 166.5 166.0 7

 8 Current transfer receipts 126.7 136.0 147.7 166.7 159.4 162.0 164.5 181.0 190.7 199.3 180.0 8

 9 Current surplus of government enterprises -3.5 -4.2 -6.6 -6.9 -5.6 -6.3 -6.9 -8.9 -10.7 -8.8 -6.3 9

10 Current expenditures, NIPA basis 3916.4 4147.9 4424.0 4740.3 4625.5 4797.0 4811.7 4726.9 4780.6 5021.9 5090.2 10

11 Consumption expenditures 1977.9 2093.3 2214.9 2386.9 2332.5 2381.5 2436.4 2397.1 2378.6 2409.0 2432.2 11

12 Government social benefits 1494.0 1596.1 1701.1 1859.2 1775.1 1926.5 1855.7 1879.4 1969.7 2123.5 2132.4 12

13 Other current transfer payments 40.9 34.9 42.2 44.8 50.1 40.2 43.0 45.9 39.5 51.7 55.1 13

14 Interest payments 342.7 372.2 411.0 395.9 414.6 395.9 423.8 349.3 337.3 382.8 402.6 14

15 Subsidies 60.9 51.4 54.8 53.5 53.1 52.9 52.9 55.2 55.5 54.9 67.9 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 -214.8 -682.7 -453.5 -822.5 -724.8 -730.2 -1005.7 -1293.5 -1359.8 17

18 + Consumption of fixed capital 250.6 269.3 290.4 310.9 303.0 308.5 313.8 318.4 322.3 323.5 325.3 18

19 - Insurance and pension fund reserves (1) 0.7 0.1 0.1 -0.6 -2.7 0.5 -1.6 1.4 0.8 -0.2 -1.5 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.7 4.6 4.8 5.0 5.0 5.0 5.1 5.1 5.1 5.1 5.0 20

21 - Net capital transfers (2) 10.0 -14.7 -2.7 4.0 0.2 -0.5 13.3 2.9 6.9 10.1 13.6 21

22 = Gross saving less net capital transfers -21.9 126.6 73.4 -380.2 -153.0 -519.0 -427.7 -421.1 -696.1 -985.0 -1051.7 22

23 Gross investment 27.8 234.4 150.0 -279.7 -96.2 7.9 -405.4 -625.0 -678.2 -1169.3 -816.4 23

24 Fixed investment 392.0 425.1 461.6 496.3 475.9 495.5 505.0 508.9 500.4 520.4 526.5 24

25 Nonproduced nonfinancial assets 9.8 -2.2 11.8 -6.2 5.4 -11.0 6.3 -25.5 -13.9 10.6 15.3 25

26 Net financial investment -374.0 -188.4 -323.4 -769.8 -577.4 -476.6 -916.7 -1108.4 -1164.7 -1700.4 -1358.2 26

27 Net acquisition of financial assets 147.4 212.2 228.0 681.1 34.7 64.3 1346.3 1279.2 379.4 361.4 209.3 27

28 Gold, SDRs, and official foreign exchange -14.4 -2.7 -0.4 4.2 0.4 4.5 -0.3 12.3 3.5 14.3 12.0 28

29 Checkable deposits and currency 22.5 2.5 23.5 322.4 -6.8 -32.8 1268.3 61.1 -353.7 221.4 -228.2 29

30 Time and savings deposits 11.8 26.4 37.3 17.9 17.1 -6.8 9.1 52.1 63.7 -25.2 12.0 30

31 Money market fund shares 5.1 6.8 4.9 0.7 -1.1 11.6 -1.4 -6.1 -7.0 -3.4 -2.9 31

32 Security RPs 10.0 13.5 9.7 1.5 -2.2 22.8 -2.7 -12.0 -13.8 -6.6 14.1 32

33 Credit market instruments 60.1 88.5 32.9 32.8 -31.0 -12.1 -8.4 182.6 201.2 179.3 217.0 33

34 Open market paper 13.1 17.6 -7.3 -28.1 -22.9 -22.1 -31.5 -35.8 -58.1 -50.7 -69.6 34

35 Agency- and GSE-backed securities (3) 28.4 38.3 14.6 26.6 -14.3 -15.0 -34.4 170.2 188.4 114.3 45.9 35

36 Municipal securities 0.4 0.5 0.3 0.1 -0.1 0.8 -0.1 -0.4 -0.5 -0.2 0.5 36

37 Corporate and foreign bonds 9.0 12.1 8.8 1.3 -2.0 0.6 17.6 -10.8 -12.5 -24.5 33.4 37

38 Mortgages 13.1 18.2 12.5 15.1 -0.3 10.5 35.2 14.9 -11.3 -11.4 27.8 38

39 Consumer credit 3.7 1.9 6.7 12.6 10.6 10.1 4.2 25.5 36.7 56.8 84.5 39

40 Other loans and advances (4) -7.7 -0.0 -2.9 5.2 -1.9 3.0 0.6 19.1 58.4 95.0 94.5 40

41 Corporate equities 2.5 -4.4 7.1 293.7 43.7 24.4 40.8 1065.8 398.0 -204.4 -6.2 41

42 Mutual fund shares 0.8 -1.3 2.2 11.0 13.4 7.5 12.5 10.8 15.5 16.6 -18.3 42

43 Trade receivables 19.4 2.3 11.2 5.2 6.7 28.9 11.6 -26.4 -7.6 -1.6 17.5 43

44 Taxes receivable 40.9 5.1 -28.4 -89.5 -79.2 -130.4 -76.5 -71.8 5.7 111.9 57.9 44

45 Miscellaneous assets -11.1 75.4 128.0 81.2 73.7 146.8 93.3 10.9 74.0 59.2 134.4 45

46 Net increase in liabilities 521.4 400.6 551.4 1450.9 612.1 541.0 2263.0 2387.6 1544.1 2061.8 1567.5 46

47 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12.0 47

48 Treasury currency 0.8 0.6 -0.7 -0.8 -0.9 -0.5 -1.2 -0.8 -0.0 -0.0 -1.0 48

49 Credit market instruments 385.7 298.5 407.8 1330.0 535.6 390.4 2177.9 2216.1 1564.4 1958.9 1511.6 49

50 Savings bonds 0.7 -2.7 -6.0 -2.4 -4.2 -1.1 -1.3 -3.0 -0.3 -1.0 -2.8 50

51 Other Treasury securities (5) 214.3 150.9 228.9 1289.8 460.4 367.3 2108.7 2222.6 1470.3 1879.8 1395.5 51

52 Budget agency securities -0.4 -0.3 -0.4 0.2 1.3 0.3 -1.7 1.0 -3.2 -1.1 3.7 52

53 Municipal securities 171.1 150.6 185.3 42.5 78.2 24.0 72.2 -4.5 97.6 81.2 115.1 53

54 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 54

55 Trade payables 65.8 40.6 66.5 31.2 68.5 83.7 19.4 -46.9 18.7 38.3 4.0 55

56 Insurance reserves 1.1 1.5 1.2 1.0 -0.3 2.0 -0.4 2.8 -0.2 2.1 0.2 56

57 Miscellaneous liabilities (6) 68.0 59.4 76.6 89.6 9.2 65.4 67.3 216.4 -38.7 62.6 40.8 57

58 Discrepancy -49.6 -107.8 -76.6 -100.5 -56.8 -526.9 -22.3 204.0 -17.9 184.3 -235.3 58

 Memo:

59 Net govt. saving less fixed investment (7) -649.1 -577.8 -676.4 -1179.1 -929.4 -1318.0 -1229.8 -1239.0 -1506.0 -1813.9 -1886.3 59

60 Adjustment between NIPA and FOF (8) 275.1 389.4 353.0 409.3 352.0 841.4 313.1 130.7 341.3 113.6 528.1 60

61 Items to be financed (9) -374.0 -188.4 -323.4 -769.8 -577.4 -476.6 -916.7 -1108.4 -1164.7 -1700.4 -1358.2 61

(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 loans to state and local governments.

(5) Excludes Treasury securities owed to state and local governments.

(6) 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.

(7) Line 17 less line 24.

(8) Line 18 less the sum of lines 19, 20, 21, 25, and 58.

(9) Line 59 plus line 60.
Z.1, December 10, 2009 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 2008 2009

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Total financial assets 2366.7 2540.1 2743.1 3388.0 2737.8 2836.5 3172.9 3388.0 3355.6 3399.6 3519.4 1

 2 Gold, SDRs, and official foreign exchange 35.3 34.5 36.4 41.9 39.3 39.0 37.6 41.9 40.4 46.0 97.3 2

 3 Checkable deposits and currency 89.3 90.7 112.6 433.4 94.0 105.0 423.3 433.4 332.5 404.5 346.4 3

 4 Time and savings deposits 184.8 211.2 248.5 266.4 250.6 244.3 249.1 266.4 279.6 268.7 274.6 4

 5 Money market fund shares 71.7 78.5 83.5 84.2 83.2 86.1 85.7 84.2 82.5 81.6 80.9 5

 6 Security RPs 141.2 154.6 164.3 165.8 163.8 169.5 168.8 165.8 162.4 160.7 164.2 6

 7 Credit market instruments 1135.0 1223.6 1256.4 1289.2 1251.2 1246.7 1245.9 1289.2 1342.1 1385.5 1441.0 7

 8 Open market paper 184.8 202.4 195.2 167.1 189.4 183.9 176.0 167.1 152.6 139.9 122.5 8

 9 Agency- and GSE-backed securities (1) 401.6 439.9 454.6 481.2 451.0 447.2 438.6 481.2 528.3 556.8 568.3 9

10 Municipal securities 5.0 5.5 5.8 5.9 5.8 6.0 6.0 5.9 5.8 5.7 5.8 10

11 Corporate and foreign bonds 127.2 139.4 148.1 149.5 147.6 147.8 152.2 149.5 146.4 140.2 148.6 11

12 Mortgages 229.7 247.9 260.5 275.5 260.4 263.0 271.8 275.5 272.7 269.9 276.8 12

13 Consumer credit 89.8 91.7 98.4 111.0 103.5 104.6 106.9 111.0 122.7 135.4 157.8 13

14 Other loans and advances (2) 96.8 96.8 93.9 99.1 93.4 94.2 94.3 99.1 113.7 137.5 161.1 14

15 Corporate equities 96.8 106.0 112.7 287.4 112.3 116.2 115.8 287.4 316.2 246.7 254.4 15

16 Mutual fund shares 29.6 32.5 34.5 29.8 34.4 35.6 35.4 29.8 29.1 38.7 39.5 16

17 Trade receivables 215.6 217.9 229.0 234.2 229.8 238.7 240.5 234.2 231.0 232.6 236.0 17

18 Taxes receivable 232.6 285.1 342.5 388.8 356.5 371.8 384.5 388.8 397.0 402.8 415.5 18

19 Miscellaneous assets 134.8 105.6 122.6 166.8 122.8 183.5 186.3 166.8 142.9 131.8 169.8 19

20 Total liabilities 7785.2 8180.0 8731.8 10182.5 8967.5 8972.3 9545.6 10182.5 10660.8 11033.5 11432.4 20

21 SDR certificates 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 5.2 21

22 Treasury currency 27.5 28.1 27.4 26.6 27.2 27.0 26.7 26.6 26.6 26.5 26.3 22

23 Credit market instruments 6064.5 6363.0 6770.8 8100.8 7003.1 6974.9 7518.2 8100.8 8598.9 8952.0 9329.9 23

24 Savings bonds 205.1 202.4 196.4 194.0 195.3 194.9 194.2 194.0 193.9 193.5 192.4 24

25 Other Treasury securities (3) 3991.5 4142.4 4371.3 5661.1 4582.2 4542.3 5084.1 5661.1 6132.6 6461.2 6825.9 25

26 Budget agency securities 23.8 23.5 23.1 23.3 23.5 23.5 23.1 23.3 22.5 22.3 23.2 26

27 Municipal securities 1844.1 1994.7 2179.9 2222.4 2202.2 2214.2 2216.8 2222.4 2249.8 2275.0 2288.4 27

28 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Trade payables 684.7 725.3 791.8 823.0 811.0 835.7 840.8 823.0 829.7 843.3 844.6 29

30 Insurance reserves 42.7 44.2 45.4 46.4 45.3 45.8 45.7 46.4 46.3 46.9 46.9 30

31 Miscellaneous liabilities (4) 963.7 1017.2 1094.2 1183.5 1078.7 1086.7 1112.0 1183.5 1157.1 1162.5 1179.5 31

(1) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(2) Excludes loans to state and local governments.

(3) Excludes Treasury securities owed to state and local governments.

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

 retirement fund, and foreign service retirement and disability fund.
114 Z.1, December 10, 2009

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2005 2006 2007 2008 2008 2009

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Net acquisition of financial assets -32.4 -42.5 -48.4 -91.4 -97.2 -72.6 -99.9 -96.1 -51.1 -49.8 -66.7 1

 2 Checkable deposits and currency 0.1 0.2 0.2 0.1 0.1 0.1 5.1 -4.9 0.0 0.1 5.0 2

 3 Time and savings deposits 5.6 0.4 1.6 1.1 1.1 1.1 6.1 -4.0 4.7 0.6 3.9 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 0.7 0.3 0.2 0.1 0.1 0.1 0.1 0.1 -0.0 0.1 -0.1 5

 6 Credit market instruments 33.8 34.3 84.8 71.8 57.0 53.9 60.4 115.7 64.8 49.0 33.6 6

 7 Open market paper 0.6 0.3 -4.5 10.1 6.2 2.8 -5.2 36.4 5.5 2.9 -14.4 7

 8 Treasury securities 1.4 11.8 32.8 10.1 7.2 11.2 23.5 -1.3 11.3 24.8 38.3 8

 9 Agency- and GSE-backed securities 16.1 2.6 26.7 13.7 12.0 4.0 14.6 24.2 19.5 -5.2 -12.0 9

10 Corporate and foreign bonds 15.9 19.6 30.3 38.2 32.0 36.3 27.8 56.6 29.5 26.9 22.7 10

11 Mortgages -0.2 -0.1 -0.5 -0.3 -0.4 -0.4 -0.3 -0.2 -1.0 -0.4 -1.1 11

12 Corporate equities -43.6 -103.5 -205.1 -207.7 -216.1 -200.0 -203.2 -211.3 -161.8 -143.6 -152.7 12

13 Mutual fund shares -8.7 0.1 9.1 13.8 32.8 33.4 21.7 -32.8 23.2 24.7 27.0 13

14 Miscellaneous assets -20.4 25.8 60.8 29.4 27.8 38.7 10.0 41.0 18.0 19.3 16.6 14

15 Unallocated insurance contracts (1) -17.0 11.4 24.1 16.3 10.2 20.9 11.7 22.6 8.2 14.8 15.3 15

16 Contributions receivable -1.9 -0.2 -0.2 -0.1 -0.2 -0.1 -0.1 -0.1 -0.4 -0.2 -0.4 16

17 Other -1.5 14.5 36.9 13.1 17.8 17.9 -1.6 18.5 10.3 4.7 1.8 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 65.3 56.5 53.0 22.6 9.8 38.1 12.0 30.4 17.2 29.9 34.3 1

 2 Checkable deposits and currency 0.2 0.2 0.4 0.3 0.2 -0.5 5.2 -3.5 0.1 -1.5 5.0 2

 3 Time and savings deposits 0.7 0.5 3.0 -0.8 3.5 -1.3 -2.2 -3.2 2.0 -1.7 4.1 3

 4 Money market fund shares 1.9 3.4 3.4 2.3 2.6 2.6 2.0 1.8 1.4 0.5 0.3 4

 5 Security RPs 0.3 0.4 3.1 7.2 2.9 -17.6 3.2 40.3 14.9 3.8 17.0 5

 6 Credit market instruments 11.4 24.1 17.6 19.0 2.4 28.6 12.2 32.6 21.2 -18.2 -22.6 6

 7 Open market paper 2.4 -0.1 -0.3 0.2 0.2 -1.2 -27.4 29.0 -3.8 -0.9 -12.1 7

 8 Treasury securities 2.1 2.4 5.9 5.3 10.5 4.5 11.5 -5.4 6.0 0.3 7.8 8

 9 Agency- and GSE-backed securities 0.7 14.0 1.4 7.7 2.6 2.3 18.5 7.3 10.3 -13.6 -19.3 9

10 Corporate and foreign bonds 6.3 8.1 9.3 4.6 -12.3 21.5 8.4 0.9 5.8 -6.3 -3.0 10

11 Mortgages 0.0 -0.2 1.2 1.2 1.4 1.5 1.1 0.9 3.1 2.3 4.0 11

12 Corporate equities 39.1 31.2 -11.9 -49.1 -35.5 -27.3 -12.7 -120.7 -41.3 -23.8 -24.8 12

13 Mutual fund shares 18.9 28.5 41.2 26.1 23.7 21.6 34.5 24.7 28.5 36.6 32.5 13

14 Miscellaneous assets -7.2 -31.8 -3.8 17.6 10.0 32.1 -30.3 58.5 -9.6 34.1 22.8 14

15 Unallocated insurance contracts (2) -1.6 -20.2 1.7 12.4 26.3 23.8 -19.4 18.8 -10.9 3.5 -3.7 15

16 Contributions receivable 0.0 -1.8 4.7 0.8 1.9 2.0 -0.8 0.1 3.9 4.3 7.5 16

17 Other -5.6 -9.8 -10.1 4.3 -18.3 6.2 -10.1 39.5 -2.6 26.2 19.0 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: 206.4 247.8 275.0 246.7 259.6 252.9 247.4 227.1 216.4 225.3 ND 1

 2 Commercial banking 7.3 26.7 8.7 37.4 26.1 -1.7 50.7 74.5 51.6 35.9 ND 2

 3 Saving institutions 0.1 3.9 13.5 6.8 10.7 28.5 -10.1 -2.0 7.5 7.2 ND 3

 4 Credit unions 1.6 3.9 5.0 7.2 7.6 6.3 3.2 11.8 16.8 9.4 ND 4

 5 Life insurance companies 28.2 12.2 15.8 23.7 30.0 12.0 22.0 30.9 74.0 -16.0 ND 5

 6 Money market mutual funds 7.0 33.0 46.0 46.0 88.0 -36.0 72.0 60.0 32.0 -72.0 ND 6

 7 Mutual funds 79.3 110.1 123.0 -132.7 -55.8 60.7 -222.8 -312.8 -89.2 279.4 ND 7

 8 Other self-directed accounts 82.8 58.0 62.9 258.3 153.1 183.0 332.4 364.8 123.7 -18.7 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, December 10, 2009 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 2008 2009

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Total financial assets 2281.3 2529.5 2666.0 1930.5 2466.6 2431.1 2263.0 1930.5 1794.0 1938.4 2095.5 1

 2 Checkable deposits and currency 5.3 5.5 5.8 5.9 5.8 5.8 7.1 5.9 5.9 5.9 7.2 2

 3 Time and savings deposits 42.0 42.3 44.0 45.0 44.2 44.5 46.0 45.0 46.2 46.4 47.3 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 5.1 5.4 5.6 5.8 5.7 5.7 5.7 5.8 5.8 5.8 5.8 5

 6 Credit market instruments 468.5 502.8 587.6 659.3 601.8 615.3 630.4 659.3 675.5 687.8 696.2 6

 7 Open market paper 5.1 5.5 1.0 11.0 2.5 3.2 2.0 11.0 12.4 13.1 9.5 7

 8 Treasury securities 60.0 71.8 104.6 114.8 106.4 109.2 115.1 114.8 117.6 123.8 133.4 8

 9 Agency- and GSE-backed securities 198.5 201.1 227.8 241.5 230.8 231.8 235.5 241.5 246.4 245.1 242.1 9

10 Corporate and foreign bonds 200.6 220.2 250.6 288.7 258.6 267.6 274.6 288.7 296.1 302.8 308.5 10

11 Mortgages 4.2 4.1 3.6 3.2 3.5 3.4 3.3 3.2 3.0 2.9 2.6 11

12 Corporate equities 1392.8 1520.7 1453.8 777.1 1268.9 1206.2 1050.5 777.1 651.1 720.7 796.4 12

13 Mutual fund shares 253.4 296.4 338.6 228.0 316.3 321.5 298.9 228.0 208.7 248.7 294.7 13

14 Miscellaneous assets 114.3 156.4 230.7 209.4 223.8 232.0 224.2 209.4 200.7 223.2 247.9 14

15 Unallocated insurance contracts (1) 88.8 116.5 154.2 119.9 142.9 146.7 139.3 119.9 108.7 130.0 154.4 15

16 Contributions receivable 1.8 1.6 1.4 1.3 1.4 1.3 1.3 1.3 1.2 1.1 1.0 16

17 Other 23.7 38.2 75.1 88.3 79.6 84.1 83.7 88.3 90.8 92.0 92.5 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 3020.8 3480.5 3725.1 2669.8 3446.8 3420.0 3179.7 2669.8 2490.3 2819.2 3187.2 1

 2 Checkable deposits and currency 5.5 5.7 6.0 6.4 6.1 5.9 7.2 6.4 6.4 6.0 7.2 2

 3 Time and savings deposits 20.3 20.8 23.7 22.9 24.6 24.3 23.7 22.9 23.4 23.0 24.0 3

 4 Money market fund shares 86.7 90.1 93.5 95.7 94.1 94.8 95.3 95.7 96.1 96.2 96.3 4

 5 Security RPs 16.6 17.0 20.1 27.3 20.9 16.5 17.3 27.3 31.1 32.0 36.3 5

 6 Credit market instruments 231.4 255.6 273.1 292.1 273.7 280.9 284.0 292.1 297.4 292.9 287.2 6

 7 Open market paper 26.4 26.3 26.0 26.1 26.0 25.7 18.9 26.1 25.2 24.9 21.9 7

 8 Treasury securities 56.5 59.0 64.9 70.2 67.5 68.6 71.5 70.2 71.7 71.7 73.7 8

 9 Agency- and GSE-backed securities 53.5 67.5 68.9 76.6 69.6 70.2 74.8 76.6 79.2 75.8 70.9 9

10 Corporate and foreign bonds 89.3 97.4 106.7 111.4 103.7 109.0 111.1 111.4 112.8 111.2 110.5 10

11 Mortgages 5.6 5.4 6.6 7.8 7.0 7.3 7.6 7.8 8.6 9.2 10.2 11

12 Corporate equities 1148.9 1354.1 1409.5 887.7 1274.5 1253.4 1140.0 887.7 804.5 937.5 1082.3 12

13 Mutual fund shares 1145.6 1361.2 1509.7 1001.6 1382.8 1367.4 1259.8 1001.6 918.6 1076.5 1254.7 13

14 Miscellaneous assets 365.9 376.2 389.4 336.1 370.1 376.8 352.4 336.1 312.8 355.1 399.1 14

15 Unallocated insurance contracts (2) 249.6 271.4 290.1 231.7 275.0 279.5 257.9 231.7 208.1 242.7 280.1 15

16 Contributions receivable 43.0 41.2 45.8 46.7 46.3 46.8 46.6 46.7 47.6 48.7 50.6 16

17 Other 73.3 63.6 53.4 57.7 48.9 50.4 47.9 57.7 57.1 63.6 68.4 17

(1) Includes 401(k) type plans.

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

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

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

 1 Total held at: 3652.0 4220.0 4736.0 3572.0 4510.0 4502.0 4114.0 3572.0 3421.0 3739.0 ND 1

 2 Commercial banking 175.3 202.0 210.7 248.1 217.2 216.8 229.5 248.1 261.0 269.9 ND 2

 3 Saving institutions 53.8 57.6 71.2 77.9 73.8 81.0 78.4 77.9 79.8 81.6 ND 3

 4 Credit unions 49.3 53.2 58.2 65.5 60.1 61.7 62.5 65.5 69.7 72.0 ND 4

 5 Life insurance companies 381.0 406.0 424.2 376.8 412.7 412.4 402.4 376.8 372.1 379.4 ND 5

 6 Money market mutual funds 143.0 176.0 222.0 268.0 244.0 235.0 253.0 268.0 276.0 258.0 ND 6

 7 Mutual funds 1485.0 1764.0 1985.0 1257.0 1829.0 1827.0 1590.0 1257.0 1158.0 1355.0 ND 7

 8 Other self-directed accounts 1364.6 1561.2 1764.7 1278.7 1673.1 1668.1 1498.2 1278.7 1204.5 1323.1 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).
Z.1, December 10, 2009 Flow of Funds Matrix for 2008

(Billions of dollars; All Sectors -- Flows)

Households State Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Rest of Financial 

Organizations Business Governments Government Sectors the World Sectors 

 U S U S U S U S U S U S U S 

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

 1 Gross saving less net cap. transfers -- 1594.5 -- 1367.2 -- 212.7 -- -592.9 -- 2581.5 -- 704.2 -- 267.6  2 Capital consumption -- 1170.8 -- 1103.7 -- 191.2 -- 119.8 -- 2585.4 -- -- -- 148.7  3 Net saving (1 less 2) -- 423.7 -- 263.6 -- 21.5 -- -712.6 -- -3.9 -- 704.2 -- 118.9  4 Gross investment (5 plus 11) 2201.3 -- 1274.2 -- 322.1 -- -601.8 -- 3195.8 -- 503.4 -- -71.5 --  5 Capital expenditures 1534.5 -- 1446.5 -- 361.1 -- 129.0 -- 3471.0 -- -2.7 -- 185.9 --  6 Consumer durables 1021.9 -- -- -- -- -- -- -- 1021.9 -- -- -- -- --  7 Residential 401.1 -- 76.0 -- 5.4 -- 1.5 -- 484.1 -- -- -- 0.1 --  8 Nonresidential 111.5 -- 1396.3 -- 342.7 -- 146.7 -- 1997.2 -- -- -- 185.8 --  9 Inventory change -- -- -34.8 -- -- -- -- -- -34.8 -- -- -- -- -- 10 Nonproduced nonfinancial assets -- -- 8.9 -- 12.9 -- -19.2 -- 2.7 -- -2.7 -- -- -- 11 Net financial investment 666.9 -- -172.3 -- -39.0 -- -730.8 -- -275.2 -- 506.0 -- -257.5 -- 12 Financial uses 562.0 -- 541.0 -- 44.3 -- 589.3 -- 1736.6 -- 620.0 -- 4556.1 -- 13 Financial sources -- -104.9 -- 713.3 -- 83.3 -- 1320.1 -- 2011.8 -- 113.9 -- 4813.6 14 Gold and off. fgn. exchange -- -- -- -- -- -- 4.2 -- 4.2 -- -0.1 4.7 0.6 -- 15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 -- -- 0.0 -- 16 Treasury currency -- -- -- -- -- -- -- -0.8 -- -0.8 -- -- -0.0 -- 17 Foreign deposits -21.2 -- -19.7 -- -- -- -- -- -40.9 -- -- -352.9 2.0 -- 18 Interbank claims -- -- -- -- -- -- -- -- -- -- 435.5 -- 1351.5 1817.6 19 Checkable dep. and currency 112.7 -- 9.2 -- 9.3 -- 313.1 -- 444.4 -- 68.8 -- 56.1 568.4 20 Time and savings deposits 158.9 -- -5.1 -- 19.1 -- -1.3 -- 171.7 -- 45.2 -- 117.3 334.2 21 Money market fund shares 235.1 -- 127.0 -- 0.7 -- -- -- 362.8 -- 14.7 -- 346.7 724.2 22 Fed. funds and security RPs -- -- -0.6 -- 1.5 -- -- -- 0.9 -- -525.0 -- -58.3 -882.9 23 Credit market instruments 8.6 37.0 -110.3 551.0 -101.3 43.3 86.5 1239.2 -116.4 1870.4 379.7 -129.5 2366.1 888.5 24 Open market paper -139.2 -- -59.3 7.7 -28.1 -- -- -- -226.6 7.7 -45.1 -71.0 82.7 -125.6 25 Treasury securities 174.9 -- -7.6 -- -48.4 -- -- 1239.0 118.9 1239.0 674.3 -- 445.8 -- 26 Agency- and GSE-backed sec. 105.1 -- -3.8 -- -27.8 -- 54.4 0.2 128.0 0.2 -218.1 -- 859.4 769.0 27 Municipal securities 40.1 19.9 -23.8 3.1 0.1 42.5 -- -- 16.4 65.4 -4.1 -- 53.1 -- 28 Corporate and fgn. bonds -184.6 -- -- 204.6 1.3 -- 0.0 -- -183.2 204.6 40.0 -62.1 -5.3 -291.1 29 Bank loans n.e.c. -- 18.0 -- 174.6 -- -- -- -- -- 192.6 -- 5.1 693.8 496.1 30 Other loans and advances 10.4 6.2 -- 33.6 -- 0.8 6.0 -- 16.5 40.6 -67.2 -1.5 123.1 33.3 31 Mortgages 1.9 -47.2 -15.8 127.4 1.6 -- 13.5 0.0 1.1 80.2 -- -- 85.9 6.8 32 Consumer credit -- 40.2 0.0 -- -- -- 12.6 -- 12.6 40.2 -- -- 27.6 -- 33 Corporate equities 10.0 -- -- -335.1 37.3 -- 256.3 -- 303.7 -335.1 90.5 1.3 -84.5 643.5 34 Mutual fund shares -7.8 -- -6.8 -- 11.0 -- -- -- -3.6 -- 5.3 -- 29.3 31.0 35 Trade credit -- 15.7 -73.1 -122.7 1.5 40.0 3.7 -8.8 -67.9 -75.9 6.1 -9.9 -14.9 -24.7 36 Security credit -123.8 -160.7 -- -- -- -- -- -- -123.8 -160.7 0.0 0.0 -274.2 -237.3 37 Life insurance reserves 67.0 -- -- -- -- -- -- 1.0 67.0 1.0 -- -- -- 66.0 38 Pension fund reserves 79.6 -- -- -- -- -- -- -- 79.6 -- -- -- -- 79.6 39 Taxes payable -- -- -- 5.3 -4.5 -- -85.0 -- -89.5 5.3 -- -- -- -133.6 40 Equity in noncorp. business -11.5 -- -- -23.0 -- -- -- -- -11.5 -23.0 -- -- -- 11.5 41 Miscellaneous 54.2 3.2 620.3 637.8 69.6 -- 11.6 89.6 755.7 730.5 99.3 600.1 718.3 927.5 42 Sector discrepancies (1 less 4) -606.9 -- 93.0 -- -109.5 -- 9.0 -- -614.3 -- 200.8 -- 339.1 -- 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.
Z.1, December 10, 2009 Flow of Funds Matrix for 2008

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

Households State Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Rest of Fina

Organizations Business Governments Government Sectors the World Sec

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

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

 1 Total financial assets 41705.5 -- 17637.0 -- 2611.9 -- 1272.0 -- 63226.4 -- 15138.3 -- 62034.6  2 Total liabilities and equity -- 14218.0 -- 36311.9 -- 2828.8 -- 7849.5 -- 61208.3 -- 11172.4 --  3 Total liabilities -- 14218.0 -- 19024.1 -- 2828.8 -- 7849.5 -- 43920.4 -- 8321.0 --  4 Monetary gold and SDRs -- -- -- -- -- -- 9.3 -- 9.3 -- -- -- 11.0  5 IMF Position -- -- -- -- -- -- 7.8 -- 7.8 -- -- 7.7 -0.1  6 Official foreign exchange -- -- -- -- -- -- 24.8 -- 24.8 -- -- 49.6 24.8  7 SDR certificates -- -- -- -- -- -- -- 2.2 -- 2.2 -- -- 2.2  8 Treasury currency -- -- -- -- -- -- -- 26.6 -- 26.6 -- -- 38.7  9 Foreign deposits 59.8 -- 30.5 -- -- -- -- -- 90.4 -- -- 996.2 129.3 10 Interbank claims -- -- -- -- -- -- -- -- -- -- 378.6 -- 1475.9 11 Checkable dep. and currency 263.4 -- 589.6 -- 65.4 -- 368.0 -- 1286.3 -- 361.4 -- 439.7 12 Time and savings deposits 5996.8 -- 846.2 -- 264.8 -- 1.6 -- 7109.4 -- 252.8 -- 578.7 13 Money market fund shares 1581.8 -- 777.6 -- 84.2 -- -- -- 2443.6 -- 60.6 -- 1253.0 14 Fed. funds and security RPs -- -- 7.5 -- 165.8 -- -- -- 173.3 -- 584.2 -- 1025.0 15 Credit market instruments 4055.9 13795.9 242.8 11172.3 1410.8 2235.1 374.3 6361.5 6083.8 33564.9 7590.7 1864.4 38834.5 16 Open market paper 10.4 -- 10.2 131.5 167.1 -- -- -- 187.7 131.5 232.9 342.0 1178.6 17 Treasury securities 272.9 -- 90.0 -- 483.1 -- -- 6338.2 846.0 6338.2 3210.6 -- 2281.5 18 Agency- and GSE-backed sec. 730.3 -- 9.0 -- 426.7 -- 54.4 23.3 1220.5 23.3 1429.2 -- 5516.4 19 Municipal securities 937.0 269.3 10.6 192.6 5.9 2222.4 -- -- 953.5 2684.3 41.0 -- 1689.8 20 Corporate and fgn. bonds 1971.9 -- -- 3763.5 149.5 -- 0.0 -- 2121.4 3763.5 2472.7 1392.9 6536.2 21 Bank loans n.e.c. -- 117.7 -- 1721.8 -- -- -- -- -- 1839.5 -- 107.9 2720.7 22 Other loans and advances 27.9 133.2 -- 1594.0 -- 12.7 111.8 -- 139.7 1739.9 204.3 21.6 2318.0 23 Mortgages 105.4 10683.6 67.6 3768.9 178.5 -- 97.1 0.0 448.5 14452.5 -- -- 14167.5 24 Consumer credit -- 2592.1 55.3 -- -- -- 111.0 -- 166.3 2592.1 -- -- 2425.8 25 Corporate equities 5851.7 -- -- 9975.0 98.7 -- 188.7 -- 6139.1 9975.0 1775.0 2851.4 7859.4 26 Mutual fund shares 3442.5 -- 143.3 -- 29.8 -- -- -- 3615.6 -- 262.0 -- 1557.7 27 Trade credit -- 230.2 2708.9 2150.1 169.9 593.7 64.3 229.3 2943.1 3203.3 89.6 63.2 182.2 28 Security credit 742.7 164.8 -- -- -- -- -- -- 742.7 164.8 0.0 0.0 385.8 29 Life insurance reserves 1179.8 -- -- -- -- -- -- 46.4 1179.8 46.4 -- -- -- 30 Pension fund reserves 10442.6 -- -- -- -- -- -- -- 10442.6 -- -- -- -- 31 Taxes payable -- -- -- 140.6 269.8 -- 119.0 -- 388.8 140.6 -- -- -- 32 Equity in noncorp. business 7322.2 -- -- 7312.8 -- -- -- -- 7322.2 7312.8 -- -- -- 33 Miscellaneous 766.4 27.0 12290.5 5561.0 52.6 -- 114.2 1183.5 13223.7 6771.6 3783.3 5340.0 8236.7 General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 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 and SDRs (line 4) because by international accounting convention, such instruments are financial assets without corresponding liabilities.
118 Z.1, December 10, 2009

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

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Assets 63928.6 71786.2 77927.6 78824.7 76020.7 74376.0 71332.8 65597.2 62577.6 64830.8 67484.5 1

 2 Tangible assets 24631.1 28388.4 29735.3 28036.8 27007.1 26073.2 25178.1 23891.6 22384.7 22775.8 23069.4 2

 3 Financial assets 39297.5 43397.8 48192.3 50787.8 49013.6 48302.8 46154.6 41705.5 40193.0 42055.0 44415.0 3

 4 Deposits 5741.3 6152.4 6776.8 7437.7 7636.2 7477.5 7652.2 7901.9 7923.5 7834.9 7740.8 4

 5 Credit market instruments 3072.0 3420.4 3547.0 4117.8 4074.6 4131.2 4252.3 4055.9 4538.6 4250.7 4360.2 5

 6 Equity shares at market value 16003.2 17395.5 20339.6 20919.2 18991.6 18535.6 16299.4 12636.2 11104.5 13338.4 15593.1 6

 7 Directly held 7483.9 7993.0 9480.6 9447.4 8757.2 8444.2 7419.0 5851.7 5120.4 6325.2 7388.3 7

 8 Indirectly held 8519.3 9402.5 10859.0 11471.8 10234.4 10091.4 8880.5 6784.5 5984.1 7013.2 8204.8 8

 9 Life insurance companies 1028.9 1140.1 1334.7 1466.8 1317.8 1301.1 1194.2 956.9 855.7 953.7 1108.3 9

10 Private pension funds 3308.1 3612.2 4159.7 4282.4 3762.8 3667.6 3293.8 2520.8 2183.8 2523.2 2899.7 10

11 Defined benefit plans 1452.9 1567.7 1729.9 1690.7 1481.2 1418.3 1236.3 903.5 760.2 860.1 971.7 11

12 Defined contribution plans 1855.2 2044.5 2429.8 2591.7 2281.6 2249.3 2057.5 1617.3 1423.6 1663.1 1928.0 12

13 State and local govt. retirement funds 1761.2 1887.3 2129.2 2193.2 1954.8 1918.9 1728.9 1312.2 1168.4 1364.5 1586.1 13

14 Federal government retirement funds 99.2 112.6 138.1 149.1 128.4 127.6 111.1 85.6 74.7 92.5 110.4 14

15 Mutual funds 2321.9 2650.4 3097.2 3380.3 3070.5 3076.1 2552.5 1909.0 1701.5 2079.3 2500.4 15

16 Other 14481.0 16429.5 17528.9 18313.1 18311.3 18158.5 17950.8 17111.6 16626.5 16631.0 16720.8 16

17 Liabilities 11008.3 12157.8 13407.5 14317.9 14422.4 14371.8 14521.1 14218.0 14102.4 14072.9 14061.0 17

18 Net worth 52920.3 59628.4 64520.1 64506.8 61598.2 60004.2 56811.6 51379.2 48475.3 50757.9 53423.5 18

 Memo:

19 Equity shares excluding defined benefit plans 12769.9 13921.0 16459.1 17013.9 15536.6 15180.0 13317.9 10408.2 9165.2 11101.6 13021.6 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) 25.0 24.2 26.1 26.5 25.0 24.9 22.8 19.3 17.7 20.6 23.1 20

21 Financial assets (line 3) 40.7 40.1 42.2 41.2 38.7 38.4 35.3 30.3 27.6 31.7 35.1 21

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

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