112 Z.1, December 8, 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. 1.6 1.4 1.4 1.6 1.2 2.0 -0.2 -0.1 0.8 0.6 1.9 0.5 2.2 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 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 -0.6 4.1 3.1 9.9 2.5 11.6 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 8, 2011 113

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. 11.8 13.1 14.5 16.1 17.3 19.3 19.2 19.1 19.8 20.4 22.3 22.7 24.9 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 62.7 70.0 77.2 85.8 92.3 103.0 102.2 101.6 105.7 108.8 118.7 121.2 132.8 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.
114 Z.1, December 8, 2011

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Current receipts, NIPA basis 4197.0 4051.6 3703.7 3962.8 3884.0 3927.0 4015.4 4025.0 4106.0 4154.4 4165.6 1

 2 Personal current taxes 1488.7 1435.7 1141.4 1193.9 1146.4 1175.4 1212.8 1240.9 1365.9 1396.2 1410.0 2

 3 Taxes on production and imports 1027.2 1038.6 1017.9 1054.0 1040.9 1050.6 1059.0 1065.5 1087.4 1101.1 1099.2 3

 4 Taxes on corporate income 420.6 281.0 249.1 387.4 386.4 376.3 406.8 380.2 397.2 394.4 387.8 4

 5 Taxes from the rest of the world 14.7 18.8 14.7 13.3 13.2 13.2 13.0 13.9 14.3 15.3 15.5 5

 6 Contributions for govt. social insurance 964.2 992.1 969.0 991.7 980.8 990.6 996.3 999.0 915.9 921.9 925.6 6

 7 Income receipts on assets 144.2 137.5 141.4 144.0 141.2 143.8 145.8 145.4 145.2 144.0 144.7 7

 8 Current transfer receipts 149.2 163.9 185.2 194.1 189.6 192.7 197.6 196.6 195.7 196.1 197.1 8

 9 Current surplus of government enterprises -11.8 -16.0 -14.9 -15.7 -14.7 -15.5 -16.0 -16.5 -15.6 -14.6 -14.5 9

10 Current expenditures, NIPA basis 4430.0 4737.3 4999.7 5261.8 5188.0 5233.2 5278.4 5347.8 5364.3 5470.0 5416.5 10

11 Consumption expenditures 2217.8 2381.0 2412.2 2497.5 2477.0 2497.7 2505.6 2509.7 2530.7 2560.4 2560.1 11

12 Government social benefits 1701.2 1857.9 2116.0 2259.5 2220.5 2230.7 2268.5 2318.3 2305.0 2324.7 2311.2 12

13 Other current transfer payments 42.2 45.3 53.3 57.3 61.7 52.6 56.9 58.1 56.8 64.9 57.4 13

14 Interest payments 414.3 400.2 358.6 390.2 372.5 395.4 390.5 402.6 411.7 457.4 423.6 14

15 Subsidies 54.6 52.9 59.7 57.3 56.4 56.8 57.0 59.1 60.0 62.7 64.1 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 -233.0 -685.7 -1296.0 -1299.0 -1304.0 -1306.2 -1262.9 -1322.8 -1258.3 -1315.6 -1251.0 17

18 + Consumption of fixed capital 291.3 311.2 323.7 334.0 329.0 332.5 335.5 339.1 343.8 349.4 355.2 18

19 - Insurance and pension fund reserves (1) 0.1 -0.6 0.5 -1.7 -3.4 -1.0 -2.1 -0.4 -2.1 -0.1 0.5 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.7 4.8 4.9 4.9 4.8 4.9 4.9 4.9 4.4 4.4 4.5 20

21 - Net capital transfers (2) -2.6 3.0 14.9 29.8 18.4 37.7 28.1 34.9 40.4 41.4 46.2 21

22 = Gross saving less net capital transfers 56.1 -381.7 -992.5 -997.8 -994.8 -1015.3 -958.3 -1023.0 -957.2 -1012.0 -947.0 22

23 Gross investment 53.3 -447.3 -920.1 -929.2 -984.8 -1246.0 -619.8 -866.1 -1013.1 -51.7 -1622.6 23

24 Fixed investment 456.5 497.2 505.4 505.3 490.8 506.9 513.1 510.5 483.6 478.2 487.1 24

25 Nonproduced nonfinancial assets 12.5 -5.1 7.3 14.8 14.2 13.6 16.4 14.9 15.5 15.3 15.0 25

26 Net lending (+) or net borrowing (-) -415.7 -939.4 -1432.8 -1449.3 -1489.8 -1766.5 -1149.3 -1391.6 -1512.2 -545.2 -2124.7 26

27 Net acquisition of financial assets 92.8 520.4 217.3 338.7 267.4 170.2 429.7 487.6 -690.0 -26.8 -162.6 27

28 U.S. official reserve assets -0.4 4.2 51.9 1.6 2.7 0.5 4.1 -1.0 16.3 24.8 21.4 28

29 Checkable deposits and currency 20.4 321.6 -155.0 155.5 154.1 208.0 81.9 178.2 -831.9 13.0 -312.0 29

30 Time and savings deposits 37.6 17.9 11.2 -0.4 20.5 -33.1 6.6 4.4 3.7 20.9 9.9 30

31 Money market fund shares 6.6 -1.8 4.1 5.4 13.5 -3.6 4.8 6.7 5.0 -2.4 -4.5 31

32 Security RPs 13.0 -3.5 8.0 10.6 26.7 -7.0 9.4 13.1 9.8 -4.7 -8.9 32

33 Credit market instruments 65.5 3.9 239.8 82.4 163.4 -82.6 167.7 81.2 126.9 -163.2 -100.9 33

34 Open market paper -3.0 -64.6 -54.5 -26.2 -5.1 -49.2 -27.6 -22.8 -27.2 -46.2 -51.7 34

35 Agency- and GSE-backed securities (3) 37.0 44.5 124.9 -37.2 15.8 -84.3 -36.8 -43.3 -35.2 -172.5 -177.7 35

36 Municipal securities 0.5 -0.1 0.3 0.4 0.9 -0.2 0.3 0.5 0.3 -0.2 -0.3 36

37 Corporate and foreign bonds 11.7 -3.1 7.8 9.8 24.1 -6.1 8.9 12.3 8.8 -4.3 -8.3 37

38 Mortgages 15.4 9.5 21.1 2.4 23.2 -2.3 -8.4 -2.8 20.5 1.2 -9.6 38

39 Consumer credit 6.7 12.6 75.0 130.4 90.6 61.5 228.1 141.4 151.5 71.1 141.4 39

40 Other loans and advances (4) -2.9 5.2 65.2 2.7 13.8 -2.0 3.2 -4.2 8.2 -12.4 5.4 40

41 Corporate equities 0.7 275.3 16.5 -13.9 -68.4 84.2 -30.1 -41.1 40.2 53.5 89.6 41

42 Mutual fund shares -0.1 13.1 -7.7 -8.5 -6.8 -5.2 -11.3 -10.8 -8.1 -0.4 17.7 42

43 Trade receivables 14.5 0.6 -12.9 10.1 21.6 -20.8 11.0 28.6 4.9 -1.7 -16.3 43

44 Taxes receivable -32.7 -59.8 38.2 69.3 67.5 41.2 73.9 94.4 87.4 41.3 132.1 44

45 Miscellaneous assets -32.4 -51.2 23.1 26.7 -127.5 -11.3 111.6 133.9 -144.3 -7.9 9.4 45

46 Net increase in liabilities 508.5 1459.7 1650.1 1788.0 1757.1 1936.8 1579.0 1879.2 822.1 518.4 1962.1 46

47 SDR allocations 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 SDR certificates 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

49 Treasury currency -0.7 -0.8 -0.4 -0.3 0.0 -0.0 -1.1 0.0 0.0 0.0 0.0 49

50 Credit market instruments 365.0 1308.3 1535.7 1635.9 1661.3 1822.4 1452.9 1606.9 677.2 796.2 1430.5 50

51 Savings bonds -6.0 -2.4 -2.8 -3.3 -4.0 -3.1 -2.6 -3.5 -4.6 -3.9 -2.8 51

52 Treasury bills and other Treasury securities (4) 225.2 1291.4 1427.7 1573.2 1593.3 1840.8 1393.6 1465.1 780.8 907.2 1431.4 52

53 Budget agency securities -0.4 0.2 0.1 0.7 0.3 1.1 0.5 0.8 1.2 0.2 1.9 53

54 Municipal securities 146.2 19.2 110.7 65.3 71.6 -16.3 61.5 144.6 -100.3 -107.3 -0.0 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 66.4 61.8 -18.4 61.0 65.3 32.9 53.0 92.7 87.5 27.0 67.3 56

57 Insurance reserves 1.2 1.0 1.1 0.9 -0.3 0.7 0.7 2.5 0.3 1.7 1.2 57

58 Miscellaneous liabilities (5) 76.6 89.5 81.4 90.6 30.9 80.7 73.5 177.1 57.2 -306.5 463.0 58

59 Discrepancy 2.7 65.6 -72.4 -68.7 -10.0 230.7 -338.4 -156.9 55.8 -960.2 675.6 59

 Memo:

60 Net govt. saving less fixed investment (6) -689.5 -1182.9 -1801.4 -1804.3 -1794.8 -1813.1 -1776.0 -1833.3 -1741.9 -1793.8 -1738.0 60

61 Adjustment between NIPA and FOF (7) 273.8 243.5 368.6 355.0 305.1 46.5 626.7 441.8 229.8 1248.6 -386.7 61

62 Items to be financed (8) -415.7 -939.4 -1432.8 -1449.3 -1489.8 -1766.5 -1149.3 -1391.6 -1512.2 -545.2 -2124.7 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, December 8, 2011 115

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

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

2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Total financial assets 2666.5 3203.7 3346.6 3683.9 3456.8 3475.8 3585.9 3683.9 3547.2 3544.5 3449.2 1

 2 U.S. official reserve assets 36.4 41.9 94.6 95.4 92.2 89.8 96.3 95.4 102.1 105.9 105.0 2

 3 Checkable deposits and currency 113.6 433.6 278.5 433.6 300.4 373.4 391.5 433.6 207.5 230.8 152.4 3

 4 Time and savings deposits 248.8 266.6 277.8 277.4 284.0 266.9 270.4 277.4 280.4 276.0 280.7 4

 5 Money market fund shares 79.3 77.5 81.6 86.9 85.0 84.1 85.3 86.9 88.2 87.6 86.5 5

 6 Security RPs 156.1 152.6 160.6 171.2 167.3 165.5 167.9 171.2 173.6 172.4 170.2 6

 7 Credit market instruments 1216.5 1220.4 1460.3 1542.7 1502.3 1479.0 1521.6 1542.7 1575.3 1531.7 1507.2 7

 8 Open market paper 184.3 119.8 65.3 39.1 64.0 51.7 44.8 39.1 32.3 20.8 7.9 8

 9 Agency- and GSE-backed securities (1) 444.0 488.5 613.4 576.2 617.3 596.3 587.1 576.2 567.4 524.3 479.9 9

10 Municipal securities 5.5 5.4 5.7 6.1 5.9 5.9 6.0 6.1 6.2 6.1 6.0 10

11 Corporate and foreign bonds 140.7 137.5 145.4 155.2 151.4 149.9 152.1 155.2 157.4 156.3 154.3 11

12 Mortgages 249.7 259.1 280.2 282.7 286.0 285.5 283.4 282.7 287.8 288.1 285.7 12

13 Consumer credit 98.4 111.0 186.0 316.4 209.8 222.6 280.3 316.4 355.2 370.1 406.1 13

14 Other loans and advances (2) 93.9 99.1 164.3 167.0 167.8 167.3 168.1 167.0 169.1 166.0 167.3 14

15 Corporate equities 108.0 270.8 185.0 150.8 162.7 151.1 151.7 150.8 166.6 170.8 172.6 15

16 Mutual fund shares 32.8 32.0 33.7 30.9 35.1 29.7 30.2 30.9 31.4 31.2 30.7 16

17 Trade receivables 220.5 221.1 208.3 218.4 216.5 211.7 214.8 218.4 222.9 222.5 218.7 17

18 Taxes receivable 342.5 389.3 416.1 448.9 420.9 429.9 442.4 448.9 458.2 466.8 463.0 18

19 Miscellaneous assets 112.1 97.8 150.2 227.7 190.5 194.5 213.8 227.7 240.9 248.6 262.2 19

20 Total liabilities 9421.7 10881.1 12528.1 14312.4 13026.1 13380.3 13812.8 14312.4 14572.4 14573.6 15101.8 20

21 SDR allocations 7.7 7.5 55.4 54.4 53.6 52.2 55.0 54.4 56.0 56.5 55.2 21

22 SDR certificates 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 22

23 Treasury currency 27.4 26.6 26.2 25.9 26.2 26.2 25.9 25.9 25.9 25.9 25.9 23

24 Credit market instruments 7453.2 8761.5 10297.2 11933.1 10791.9 11123.1 11523.2 11933.1 12180.2 12257.6 12654.0 24

25 Savings bonds 196.4 194.0 191.2 187.9 190.2 189.6 188.7 187.9 186.8 186.0 185.1 25

26 Treasury bills and other Treasury securities (2) 4377.7 5669.1 7096.8 8670.0 7569.5 7909.4 8307.0 8670.0 8937.8 9048.8 9456.7 26

27 Budget agency securities 23.1 23.3 23.5 24.2 23.6 23.9 24.0 24.2 24.5 24.5 25.0 27

28 Municipal securities 2855.9 2875.0 2985.7 3051.1 3008.6 3000.2 3003.5 3051.1 3031.2 2998.3 2987.2 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 791.7 853.4 835.0 896.0 857.9 876.9 886.2 896.0 921.5 937.4 954.1 30

31 Insurance reserves 45.4 46.4 47.5 48.4 47.4 47.6 47.8 48.4 48.5 48.9 49.2 31

32 Miscellaneous liabilities (4) 1094.2 1183.5 1261.6 1349.4 1243.8 1249.1 1269.6 1349.4 1335.1 1242.0 1358.1 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.
116 Z.1, December 8, 2011

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Net acquisition of financial assets -76.4 -82.4 -35.1 -31.9 -48.4 -24.7 -21.5 -33.1 -33.1 -4.2 -26.7 1

 2 Checkable deposits and currency 0.2 0.1 2.8 10.1 7.3 8.9 10.8 13.5 13.1 12.0 12.0 2

 3 Time and savings deposits 1.6 1.1 3.3 4.2 4.0 4.1 4.2 4.5 4.3 4.3 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 0.2 0.1 -0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.0 -0.1 5

 6 Credit market instruments 84.8 71.8 114.1 78.6 106.8 67.9 86.6 53.0 39.2 61.7 44.9 6

 7 Open market paper -4.5 10.1 -4.1 -5.4 -7.6 -5.5 -4.0 -4.4 -4.2 0.0 0.0 7

 8 Treasury securities 32.8 10.1 97.9 140.2 85.0 220.2 217.4 38.0 36.7 66.1 53.4 8

 9 Agency- and GSE-backed securities 26.7 13.7 -23.4 -97.5 -10.0 -187.5 -166.9 -25.6 -32.7 -28.7 -28.7 9

10 Corporate and foreign bonds 30.3 38.2 44.6 42.2 40.3 41.5 40.8 46.0 40.4 25.4 21.2 10

11 Mortgages -0.5 -0.3 -0.9 -0.9 -0.9 -0.8 -0.7 -1.0 -1.0 -1.0 -1.0 11

12 Corporate equities -209.0 -171.1 -159.6 -120.2 -143.8 -120.0 -120.0 -96.9 -97.6 -97.6 -92.6 12

13 Mutual fund shares 20.1 15.5 -5.2 -2.6 -9.7 12.0 -8.0 -4.8 11.4 11.6 6.2 13

14 Miscellaneous assets 25.6 0.0 9.6 -2.0 -13.0 2.5 4.9 -2.2 -3.4 3.8 -1.5 14

15 Unallocated insurance contracts (1) 29.0 24.0 5.6 -1.9 -10.4 4.0 4.0 -5.2 -5.0 4.0 4.0 15

16 Contributions receivable -0.2 -0.1 -0.4 -0.9 -2.0 -0.9 -0.4 -0.2 -0.0 -0.0 -0.0 16

17 Other -3.1 -23.9 4.4 0.8 -0.6 -0.6 1.4 3.1 1.6 -0.2 -5.5 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 108.1 45.6 95.1 93.1 94.9 112.4 71.0 94.2 111.8 112.7 98.3 1

 2 Checkable deposits and currency 0.4 0.3 1.4 1.4 2.6 2.9 0.2 -0.2 0.2 1.5 0.2 2

 3 Time and savings deposits 3.0 -0.8 1.4 0.2 -0.1 0.9 -0.9 1.0 -0.5 -0.4 -0.4 3

 4 Money market fund shares 3.4 2.3 0.6 -0.1 0.2 0.0 -0.4 -0.2 -0.2 -0.2 -0.2 4

 5 Security RPs 3.1 7.2 3.1 0.9 0.4 -19.7 21.9 1.2 0.8 -16.9 3.9 5

 6 Credit market instruments 17.7 18.9 -2.5 29.4 1.3 29.1 10.8 76.4 41.1 45.2 68.6 6

 7 Open market paper -0.3 0.2 -6.4 -6.3 -12.1 -8.7 -0.3 -4.2 3.4 -1.1 -1.1 7

 8 Treasury securities 5.9 5.3 27.9 35.8 38.6 42.8 20.8 41.0 16.6 23.2 39.8 8

 9 Agency- and GSE-backed securities 1.4 7.7 -25.7 -0.6 -28.1 -7.0 3.7 28.8 10.2 17.2 16.8 9

10 Corporate and foreign bonds 9.5 4.5 -1.8 -1.6 -1.8 -3.4 -12.1 10.9 10.9 5.9 13.1 10

11 Mortgages 1.2 1.2 3.5 2.2 4.8 5.3 -1.3 0.0 0.0 0.0 0.0 11

12 Corporate equities 20.7 -13.6 -16.0 9.1 9.0 8.9 8.6 10.0 14.0 16.8 10.8 12

13 Mutual fund shares 68.0 20.0 95.0 83.0 116.0 96.0 36.0 84.0 80.0 88.0 16.0 13

14 Miscellaneous assets -8.1 11.3 12.0 -30.9 -34.5 -5.6 -5.3 -78.0 -23.6 -21.3 -0.6 14

15 Unallocated insurance contracts (2) -2.7 14.2 4.5 -2.5 -17.7 10.6 1.2 -4.0 -4.0 -4.0 -4.0 15

16 Contributions receivable 4.7 0.8 2.9 -0.4 -0.2 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 16

17 Other -10.1 -3.7 4.6 -28.0 -16.6 -15.8 -6.1 -73.6 -19.2 -16.9 3.8 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: 275.7 247.5 198.6 88.7 -130.8 489.9 -104.3 100.0 -140.0 168.0 ND 1

 2 U.S.-chartered commercial banks 8.7 37.4 27.5 21.0 10.4 23.2 17.1 33.3 5.9 28.1 ND 2

 3 Saving institutions 13.5 6.8 3.3 5.6 6.3 11.5 3.7 0.9 3.1 -0.1 ND 3

 4 Credit unions 5.0 7.2 8.7 3.0 4.5 4.1 3.3 0.2 1.1 1.4 ND 4

 5 Life insurance companies 17.9 28.9 -6.0 11.9 8.0 20.1 14.8 4.7 -1.0 20.0 ND 5

 6 Money market mutual funds 44.0 46.0 -40.0 -23.0 -40.0 -8.0 -24.0 -20.0 -20.0 16.0 ND 6

 7 Mutual funds 119.9 -119.7 148.0 120.7 159.2 33.0 207.7 83.1 69.7 69.5 ND 7

 8 Other self-directed accounts 66.6 240.9 57.2 -50.5 -279.1 406.0 -326.9 -2.1 -198.9 33.1 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 8, 2011 117

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

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

2007 2008 2009 2010 2010 2011

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Total financial assets 2596.0 1853.5 2104.7 2262.0 2170.2 2051.7 2154.3 2262.0 2318.6 2312.3 2122.7 1

 2 Checkable deposits and currency 5.8 5.9 8.7 18.8 10.5 12.8 15.4 18.8 22.1 25.1 28.1 2

 3 Time and savings deposits 44.0 45.0 48.3 52.5 49.3 50.4 51.4 52.5 53.6 54.7 55.8 3

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

 5 Security RPs 5.6 5.8 5.7 5.7 5.7 5.7 5.7 5.7 5.7 5.6 5.6 5

 6 Credit market instruments 587.6 659.3 773.4 852.0 800.1 817.1 838.7 852.0 861.8 877.2 888.4 6

 7 Open market paper 1.0 11.0 6.9 1.6 5.0 3.6 2.6 1.6 0.5 0.5 0.5 7

 8 Treasury securities 104.6 114.8 212.7 352.8 233.9 289.0 343.3 352.8 362.0 378.5 391.9 8

 9 Agency- and GSE-backed securities 227.8 241.5 218.2 120.7 215.7 168.8 127.1 120.7 112.5 105.3 98.1 9

10 Corporate and foreign bonds 250.6 288.7 333.3 375.5 343.4 353.8 364.0 375.5 385.6 391.9 397.2 10

11 Mortgages 3.6 3.2 2.3 1.5 2.1 1.9 1.7 1.5 1.2 1.0 0.7 11

12 Corporate equities 1423.8 777.1 805.2 810.0 819.1 702.3 750.3 810.0 831.1 802.6 653.3 12

13 Mutual fund shares 338.6 228.0 286.3 323.5 301.6 285.0 303.2 323.5 339.3 341.5 306.5 13

14 Miscellaneous assets 190.7 132.4 177.1 199.4 183.8 178.5 189.6 199.4 205.0 205.6 185.0 14

15 Unallocated insurance contracts (1) 154.2 119.9 160.5 182.9 167.9 163.0 173.8 182.9 188.0 188.7 169.5 15

16 Contributions receivable 1.4 1.3 0.9 0.0 0.4 0.2 0.1 0.0 0.0 0.0 0.0 16

17 Other 35.1 11.3 15.7 16.5 15.5 15.4 15.7 16.5 16.9 16.9 15.5 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 3814.5 2699.2 3366.3 3849.7 3538.4 3264.1 3574.2 3849.7 4022.5 4034.0 3621.2 1

 2 Checkable deposits and currency 6.0 6.4 7.7 9.1 8.4 9.1 9.2 9.1 9.2 9.5 9.6 2

 3 Time and savings deposits 23.7 22.9 24.3 24.6 24.3 24.5 24.3 24.6 24.4 24.3 24.2 3

 4 Money market fund shares 93.5 95.7 96.4 96.3 96.4 96.4 96.3 96.3 96.2 96.2 96.1 4

 5 Security RPs 20.1 27.3 30.5 31.4 30.6 25.6 31.1 31.4 31.6 27.4 28.4 5

 6 Credit market instruments 273.3 292.1 289.6 319.1 290.0 297.2 299.9 319.1 329.3 340.6 357.8 6

 7 Open market paper 26.0 26.1 19.7 13.4 16.7 14.5 14.5 13.4 14.2 14.0 13.7 7

 8 Treasury securities 64.9 70.2 98.1 133.9 107.7 118.4 123.6 133.9 138.0 143.8 153.8 8

 9 Agency- and GSE-backed securities 68.9 76.6 50.9 50.3 43.9 42.2 43.1 50.3 52.8 57.1 61.3 9

10 Corporate and foreign bonds 106.9 111.4 109.6 108.0 109.1 108.3 105.3 108.0 110.7 112.2 115.5 10

11 Mortgages 6.6 7.8 11.3 13.5 12.5 13.8 13.5 13.5 13.5 13.5 13.5 11

12 Corporate equities 1249.5 822.7 1030.6 1202.2 1099.1 971.6 1082.3 1202.2 1268.8 1260.7 1061.0 12

13 Mutual fund shares 1772.0 1138.0 1531.0 1817.0 1628.0 1499.0 1677.0 1817.0 1909.1 1927.3 1726.6 13

14 Miscellaneous assets 376.4 294.1 356.2 350.1 361.7 340.6 354.0 350.1 353.8 347.9 317.6 14

15 Unallocated insurance contracts (2) 277.1 197.7 252.3 274.6 262.0 245.0 260.0 274.6 283.2 281.6 250.5 15

16 Contributions receivable 45.8 46.7 49.6 49.2 49.5 49.4 49.3 49.2 49.1 49.0 48.9 16

17 Other 53.4 49.7 54.3 26.3 50.2 46.2 44.7 26.3 21.5 17.3 18.2 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: 4784.0 3585.0 4251.0 4710.0 4390.0 4156.0 4472.0 4710.0 4898.4 4853.3 ND 1

 2 U.S.-chartered commercial banks 210.7 248.1 275.5 296.5 278.1 283.9 288.2 296.5 298.0 305.1 ND 2

 3 Saving institutions 71.2 77.9 81.2 86.8 82.7 85.6 86.5 86.8 87.5 87.5 ND 3

 4 Credit unions 58.2 65.5 74.2 77.2 75.3 76.3 77.2 77.2 77.5 77.9 ND 4

 5 Life insurance companies 426.0 381.6 405.5 436.0 414.0 403.0 420.0 436.0 446.0 450.0 ND 5

 6 Money market mutual funds 220.0 266.0 226.0 203.0 216.0 214.0 208.0 203.0 198.0 202.0 ND 6

 7 Mutual funds 1981.0 1264.0 1651.0 1912.0 1733.0 1608.0 1782.0 1912.0 1995.0 2004.0 ND 7

 8 Other self-directed accounts 1816.9 1281.9 1537.6 1698.5 1590.8 1485.1 1610.1 1698.5 1796.3 1726.9 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 8, 2011 Flow of Funds Matrix for 2010

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial Rest of 

Organizations Business Governments Government Sectors Sectors the World 

 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 -- 1945.0 -- 1585.8 -- 257.0 -- -1254.9 -- 2533.0 -- 298.1 -- 479.9  2 Capital consumption -- 1210.6 -- 1064.4 -- 204.0 -- 130.0 -- 2609.0 -- 181.3 -- --  3 Net saving (1 less 2) -- 734.5 -- 521.4 -- 53.0 -- -1384.9 -- -76.0 -- 116.8 -- 479.9  4 Gross investment (5 plus 11) 2175.3 -- 1500.0 -- 286.5 -- -1215.6 -- 2746.1 -- 81.7 -- 254.1 --  5 Capital expenditures 1411.3 -- 1198.8 -- 351.0 -- 169.1 -- 3130.3 -- 186.4 -- 0.0 --  6 Consumer durables 1016.2 -- -- -- -- -- -- -- 1016.2 -- -- -- -- --  7 Residential 287.7 -- 45.7 -- 8.0 -- 1.7 -- 343.1 -- 4.7 -- -- --  8 Nonresidential 118.8 -- 1089.6 -- 328.5 -- 167.1 -- 1704.0 -- 181.7 -- -- --  9 Inventory change -- -- 66.9 -- -- -- -- -- 66.9 -- -- -- -- -- 10 Nonproduced nonfinancial assets -11.3 -- -3.4 -- 14.5 -- 0.2 -- 0.0 -- -- -- 0.0 -- 11 Net lending (+) or net borrowing (-) 763.9 -- 301.2 -- -64.6 -- -1384.7 -- -384.1 -- -104.6 -- 254.1 -- 12 Total financial assets 584.8 -- 686.2 -- 40.0 -- 309.2 -- 1620.2 -- -739.0 -- 1082.5 -- 13 Total liabilities -- -179.2 -- 385.0 -- 104.6 -- 1694.0 -- 2004.4 -- -634.3 -- 828.14 U.S. official reserve assets -- -- -- -- -- -- 1.6 0.0 1.6 0.0 0.3 -- 0.0 1.15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- -- 16 Treasury currency -- -- -- -- -- -- -- -0.3 -- -0.3 0.9 -- -- -- 17 Foreign deposits 4.3 -- 40.5 -- -- -- -- -- 44.8 -- 8.7 -- -- 71.7 18 Interbank claims -- -- -- -- -- -- -- -- -- -- -106.9 -185.8 -58.7 -- 19 Checkable dep. and currency -144.6 -- 257.5 -- 6.7 -- 148.9 -- 268.4 -- -30.5 266.3 29.5 -- 20 Time and savings deposits 230.6 -- -31.9 -- -0.4 -- 0.1 -- 198.3 -- -99.9 116.1 17.7 -- 21 Money market fund shares -184.8 -- -131.7 -- 5.4 -- -- -- -311.1 -- -193.4 -502.9 1.5 -- 22 Fed. funds and security RPs -- -- 4.3 -- 10.6 -- -- -- 14.9 -- -2.3 -201.3 -128.6 -- 23 Credit market instruments 195.2 -278.4 9.5 77.0 7.7 66.2 85.3 1580.2 297.6 1445.1 -253.4 -968.5 520.5 88.2 24 Open market paper 28.8 -- 15.5 24.5 -26.2 -- -- -- 18.1 24.5 -98.9 -101.7 0.8 -2.7 25 Treasury securities 360.1 -- -1.5 -- 9.7 -- -- 1579.6 368.3 1579.6 557.1 -- 654.2 -- 26 Agency- and GSE-backed sec. 92.5 -- 0.1 -- 10.0 -- -47.2 0.7 55.5 0.7 -12.6 -46.9 -89.1 -- 27 Municipal securities 59.2 -2.3 -6.5 34.7 0.4 65.3 -- -- 53.1 97.7 28.6 -- 16.0 -- 28 Corporate and fgn. bonds -333.4 -- -- 420.6 9.5 -- 0.3 -- -323.6 420.6 264.6 -591.8 -39.4 72.29 Bank loans n.e.c. -- 76.5 -- -109.5 -- -- -- -- -- -33.0 -105.4 -90.2 -- 17.9 30 Other loans and advances -0.6 2.4 -- -88.6 -- 0.9 3.5 -- 2.9 -85.3 -210.7 -144.7 -22.0 0.2 31 Mortgages -11.3 -310.8 -5.7 -204.7 4.2 -- -1.8 0.0 -14.6 -515.5 -494.0 6.9 -- -- 32 Consumer credit -- -44.2 7.5 -- -- -- 130.4 -- 137.9 -44.2 -182.1 -- -- -- 33 Corporate equities -148.7 -- -- -278.0 -28.9 -- 15.1 -- -162.6 -278.0 0.9 190.1 152.9 79.34 Mutual fund shares 290.6 -- 16.7 -- -8.5 -- -- -- 298.8 -- 71.9 388.6 18.0 -- 35 Trade credit -- 21.4 110.0 140.8 10.8 38.4 -0.7 22.6 120.1 223.2 -8.6 -52.0 19.4 27.36 Security credit 25.7 75.2 -- -- -- -- -- -- 25.7 75.2 97.9 48.4 0.0 0.0 37 Life insurance reserves 17.2 -- -- -- -- -- -- 0.9 17.2 0.9 -- 16.4 -- -- 38 Pension fund reserves 208.9 -- -- -- -- -- -- -- 208.9 -- -- 208.9 -- -- 39 Taxes payable -- -- -- -1.5 6.7 -- 62.5 -- 69.3 -1.5 -- 13.0 -- -- 40 Equity in noncorp. business 46.0 -- -- 45.6 -- -- -- -- 46.0 45.6 -- 0.4 -- -- 41 Miscellaneous 44.4 2.7 411.2 401.0 30.1 -- -3.5 90.6 482.3 494.2 -224.7 28.0 510.3 559.42 Sector discrepancies (1 less 4) -230.2 -- 85.7 -- -29.4 -- -39.2 -- -213.2 -- 216.4 -- 225.7 -- 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 8, 2011 Flow of Funds Matrix for 2010

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

Households State Domestic Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial R

Organizations Business Governments Government Sectors Sectors the 

 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 49244.5 -- 17689.0 -- 2631.9 -- 1570.0 -- 71135.4 -- 64360.1 -- 17163.2  2 Total liabilities and equity -- 13901.1 -- 40229.5 -- 3734.3 -- 11096.1 -- 68961.0 -- 64842.6 --  3 Total liabilities -- 13901.1 -- 18819.0 -- 3734.3 -- 11096.1 -- 47550.6 -- 60496.6 --  4 U.S. official reserve assets -- -- -- -- -- -- 95.4 54.4 95.4 54.4 37.0 -- 54.4  5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- --  6 Treasury currency -- -- -- -- -- -- -- 25.9 -- 25.9 43.5 -- --  7 Foreign deposits 54.8 -- 72.0 -- -- -- -- -- 126.8 -- 105.9 -- --  8 Interbank claims -- -- -- -- -- -- -- -- -- -- 1019.6 1091.6 10.2  9 Checkable dep. and currency 185.6 -- 963.3 -- 91.5 -- 342.1 -- 1582.5 -- 381.1 2359.8 390.5 10 Time and savings deposits 6420.6 -- 810.3 -- 275.5 -- 2.0 -- 7508.3 -- 676.5 8432.4 247.7 11 Money market fund shares 1127.3 -- 588.2 -- 86.9 -- -- -- 1802.4 -- 871.6 2755.3 81.3 12 Fed. funds and security RPs -- -- 12.2 -- 171.2 -- -- -- 183.4 -- 846.9 1227.4 -98.6 13 Credit market instruments 5316.4 13324.1 317.0 11156.4 1306.2 3065.5 754.5 9385.6 7694.2 36931.6 37287.9 14153.1 8375.8 14 Open market paper 63.4 -- 71.5 82.9 39.1 -- -- -- 174.0 82.9 691.1 575.9 192.3 15 Treasury securities 1115.9 -- 87.6 -- 503.6 -- -- 9361.5 1707.1 9361.5 3269.1 -- 4385.3 16 Agency- and GSE-backed sec. 215.4 -- 14.5 -- 427.0 -- 149.2 24.2 806.1 24.2 5714.7 7574.0 1077.3 17 Municipal securities 1957.6 262.3 25.7 482.3 6.1 3051.1 -- -- 1989.4 3795.6 1733.2 -- 73.0 18 Corporate and fgn. bonds 1847.7 -- -- 4560.3 154.3 -- 0.9 -- 2002.9 4560.3 6982.3 5175.0 2487.4 19 Bank loans n.e.c. -- 263.2 -- 1314.5 -- -- -- -- -- 1577.7 1874.1 181.3 -- 20 Other loans and advances 26.2 136.1 -- 1304.8 -- 14.4 181.4 -- 207.6 1455.3 1582.6 473.2 160.4 21 Mortgages 90.2 10227.8 61.8 3411.6 176.1 -- 106.6 0.0 434.6 13639.4 13378.6 173.8 -- 22 Consumer credit -- 2434.7 56.0 -- -- -- 316.4 -- 372.4 2434.7 2062.3 -- -- 23 Corporate equities 8527.6 -- -- 14422.3 109.9 -- 40.9 -- 8678.4 14422.3 11500.0 4332.2 3061.7 24 Mutual fund shares 4704.8 -- 222.9 -- 30.9 -- -- -- 4958.7 -- 2609.2 7934.5 366.6 25 Trade credit -- 274.1 2665.5 2116.6 175.4 668.8 42.9 227.1 2883.9 3286.8 135.6 18.1 116.1 26 Security credit 694.3 278.2 -- -- -- -- -- -- 694.3 278.2 520.5 936.6 0.0 27 Life insurance reserves 1278.3 -- -- -- -- -- -- 48.4 1278.3 48.4 -- 1229.9 -- 28 Pension fund reserves 13102.3 -- -- -- -- -- -- -- 13102.3 -- -- 13102.3 -- 29 Taxes payable -- -- -- 134.1 298.0 -- 150.8 -- 448.9 134.1 -- -82.0 -- 30 Equity in noncorp. business 7001.9 -- -- 6988.1 -- -- -- -- 7001.9 6988.1 -- 13.8 -- 31 Miscellaneous 830.6 24.7 12037.6 5411.9 86.3 -- 141.4 1349.4 13095.8 6786.0 8319.5 7337.7 4557.5 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.
120 Z.1, December 8, 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

2006 2007 2008 2009 2010 2011

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Assets 78596.0 79482.1 66645.2 69155.5 70330.5 69061.4 70238.4 72681.9 73737.0 73625.7 71119.6 1

 2 Nonfinancial assets 29552.2 27985.1 24449.5 23723.4 23878.1 23965.5 23413.2 23437.5 23216.6 23230.7 23382.8 2

 3 Financial assets 49043.8 51497.0 42195.6 45432.1 46452.4 45095.9 46825.2 49244.5 50520.4 50395.0 47736.8 3

 4 Deposits 6759.0 7408.6 8016.6 7882.9 7806.4 7713.7 7718.1 7788.3 7781.9 7931.1 8028.7 4

 5 Credit market instruments 4337.8 4931.3 4860.9 5091.4 5187.6 5306.0 5249.0 5316.4 5266.7 5035.1 4994.4 5

 6 Equity shares at market value 20368.2 20950.7 12444.7 15932.2 16590.2 14790.1 16605.4 18292.0 19389.3 19230.5 15989.4 6

 7 Directly held 9652.6 9636.8 5746.9 7369.7 7590.9 6840.7 7758.8 8527.6 9044.2 8942.3 7400.2 7

 8 Indirectly held 10715.6 11314.0 6697.9 8562.5 8999.2 7949.3 8846.6 9764.4 10345.1 10288.1 8589.2 8

 9 Life insurance companies 1334.7 1466.8 956.9 1220.3 1285.7 1173.8 1291.4 1420.5 1505.1 1504.4 1366.0 9

10 Private pension funds 4155.6 4260.5 2471.9 3055.6 3206.2 2813.5 3123.3 3437.1 3612.1 3574.1 3032.0 10

11 Defined benefit plans 1729.9 1660.7 903.5 975.2 999.0 862.4 926.4 1004.3 1034.9 1004.5 818.8 11

12 Defined contribution plans 2425.7 2599.8 1568.5 2080.3 2207.2 1951.1 2196.9 2432.8 2577.2 2569.5 2213.1 12

13 State and local govt. retirement funds 2129.0 2221.0 1338.3 1684.5 1778.7 1570.0 1741.0 1939.0 2025.4 2008.0 1648.5 13

14 Federal government retirement funds 138.1 149.1 85.6 119.4 127.8 112.6 125.6 143.7 152.1 152.9 124.1 14

15 Mutual funds 2958.1 3216.5 1845.1 2482.7 2600.8 2279.5 2565.3 2824.1 3050.4 3048.9 2418.6 15

16 Other 17578.8 18206.4 16873.5 16525.6 16868.3 17286.1 17252.8 17847.7 18082.5 18198.4 18724.3 16

17 Liabilities 13424.7 14341.1 14225.4 14042.6 13925.3 13887.1 13870.0 13901.1 13834.1 13827.7 13766.6 17

18 Net worth 65171.3 65141.0 52419.8 55112.9 56405.2 55174.3 56368.4 58780.8 59902.9 59798.0 57353.0 18

 Memo:

19 Equity shares excluding defined benefit plans 16487.8 17047.6 10190.6 13258.3 13797.6 12344.9 13924.1 15333.6 16313.4 16202.6 13509.4 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) 25.9 26.4 18.7 23.0 23.6 21.4 23.6 25.2 26.3 26.1 22.5 20

21 Financial assets (line 3) 41.5 40.7 29.5 35.1 35.7 32.8 35.5 37.1 38.4 38.2 33.5 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.