December 11, 2008

Flow of Funds Accounts 

of the United States 

Annual Flows and Outstandings

1995-2004

Board of Governors of the Federal Reserve System, Washington D.C. 20551 
Table of Contents

Flows Levels

Title Table Page Table Page

Summaries

Total Net Borrowing and Lending in Credit Markets F.1 1 L.1 50 

Credit Market Borrowing by Nonfinancial Sectors F.2 2 L.2 51 

Credit Market Borrowing by Financial Sectors F.3 2 L.3 51 

Credit Market Borrowing, All Sectors, by Instrument F.4 3 L.4 52 

Total Liabilities and Its Relation to Total Financial Assets F.5 3 L.5 52 

Distribution of Gross Domestic Product F.6 4 

Distribution of National Income F.7 5 

Saving and Investment F.8 6 

Net Capital Transfers F.9 6 

Derivation of Measures of Personal Saving F.10 7 L.10 53 

Sectors

Households and Nonprofit Organizations F.100 8 L.100 54 

Nonfinancial Business F.101 9 L.101 55 

Nonfarm Nonfinancial Corporate Business F.102 10 L.102 56 

Nonfarm Noncorporate Business F.103 11 L.103 57 

Farm Business F.104 11 L.104 57 

State and Local Governments F.105 12 L.105 58 

Federal Government F.106 13 L.106 58 
Flows Levels

Title Table Page Table Page

Rest of the World F.107 14 L.107 59 

Monetary Authority F.108 15 L.108 60 

Commercial Banking F.109 16 L.109 61 

 U.S.-Chartered Commercial Banks F.110 17 L.110 62 

Foreign Banking Offices in U.S. F.111 18 L.111 63 

Bank Holding Companies F.112 19 L.112 64 

Banks in U.S.-Affiliated Areas F.113 19 L.113 64 

Savings Institutions F.114 20 L.114 65 

Credit Unions F.115 21 L.115 66 

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

Life Insurance Companies F.117 22 L.117 67 

Private Pension Funds F.118 22 L.118 67 

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

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

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

Mutual Funds F.122 24 L.122 69 

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

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

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

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

Finance Companies F.127 26 L.127 71 

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

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

Funding Corporations F.130 28 L.130 73 
Flows Levels

Title Table Page Table Page 

Instruments 

Gold and Official Foreign Exchange Holdings F.200 29 L.200 74 

SDR Certificates and Treasury Currency F.201 29 L.201 74 

U.S. Deposits in Foreign Countries F.202 29 L.202 74 

Net Interbank Transactions F.203 30 L.203 75 

Checkable Deposits and Currency F.204 31 L.204 76 

Time and Savings Deposits F.205 32 L.205 77 

Money Market Mutual Fund Shares F.206 32 L.206 77 

Federal Funds and Security Repurchase Agreements F.207 33 L.207 78 

Open Market Paper F.208 33 L.208 78 

Treasury Securities F.209 34 L.209 79 

Agency- and GSE-backed Securities F.210 35 L.210 80

Municipal Securities and Loans F.211 36 L.211 81 

Corporate and Foreign Bonds F.212 36 L.212 81 

Corporate Equities F.213 37 L.213 82 

Mutual Fund Shares F.214 37 L.214 82 

Bank Loans Not Elsewhere Classified F.215 38 L.215 83 

Other Loans and Advances F.216 39 L.216 84 

Total Mortgages F.217 40 L.217 85 

Home Mortgages F.218 41 L.218 86 

Multifamily Residential Mortgages F.219 41 L.219 86 

Commercial Mortgages F.220 42 L.220 87 

Farm Mortgages F.221 42 L.221 87 

Consumer Credit F.222 43 L.222 88 
Flows Levels

Title Table Page Table Page 

Trade Credit F.223 43 L.223 88 

Security Credit F.224 43 L.224 88 

Life Insurance and Pension Fund Reserves F.225 44 L.225 89 

Taxes Payable by Businesses F.226 44 L.226 89 

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

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

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

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

Unidentified Miscellaneous Financial Claims F.231 48 L.231 93 

Sector Discrepancies F.11 49 

Instrument Discrepancies F.12 49 

Balance Reconciliation

Sheet

Title Table Page Table Page

Balance Sheet, Reconciliation, and 

Supplementary Tables 

Households and Nonprofit Organizations B.100 94 R.100 97 

Nonfarm Nonfinancial Corporate Business B.102 95 R.102 98 

Nonfarm Noncorporate Business B.103 96 R.103 99 

Consolidated Statement for Federal, State, and Local Governments F.106.c 100 L.106.c 101 

Private Pension Funds: Defined Benefit Plans F.118.b 102 L.118.b 103 

Private Pension Funds: Defined Contribution Plans F.118.c 102 L.118.c 103 

Individual Retirement Accounts (IRAs) F.225.i 102 L.225.i 103 

Balance Sheet of Households and Nonprofit Organizations 

with Equity Detail B.100.e 104 
FFA, 1995-2004, December 11, 2008 1

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total net borrowing 1196.5 1335.8 1457.7 2070.8 2089.4 1721.6 2013.8 2384.5 2785.6 3120.7 1

 2 Domestic nonfinancial sectors 678.8 733.8 813.6 1006.8 1043.1 864.8 1152.7 1412.3 1677.4 1990.5 2

 3 Household sector 309.8 336.4 300.9 426.0 495.0 583.5 672.2 830.8 984.1 1058.1 3

 4 Nonfinancial corporate business 237.7 199.9 333.9 383.1 383.6 361.9 212.7 22.9 87.3 204.0 4

 5 Nonfarm noncorporate business 45.1 69.0 97.7 175.5 195.2 196.4 161.5 149.8 91.6 245.2 5

 6 Farm business 2.5 4.2 7.3 8.1 3.3 2.0 6.4 7.1 -1.6 6.0 6

 7 State and local governments -60.8 -20.5 50.8 66.8 37.3 16.9 105.5 144.1 120.1 115.4 7

 8 Federal government 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 8

 9 Rest of the world 78.3 88.0 69.9 37.2 19.0 63.0 -11.2 93.4 42.4 154.7 9

10 Financial sectors 439.5 514.0 574.1 1026.8 1027.4 793.8 872.3 878.8 1065.8 975.4 10

11 Commercial banking 22.5 13.0 46.1 72.9 67.2 60.0 52.9 49.7 48.5 78.4 11

12 U.S.-chartered commercial banks 11.2 11.7 29.5 52.8 41.8 36.8 30.2 29.9 13.2 18.7 12

13 Foreign banking offices in U.S. -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 13

14 Bank holding companies 14.4 2.0 19.0 24.9 25.8 23.2 23.6 20.3 35.4 59.5 14

15 Savings institutions 2.6 25.5 19.7 52.2 48.0 27.3 -2.0 -23.4 34.5 89.0 15

16 Credit unions -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 16

17 Life insurance companies -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 17

18 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 18

19 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 330.6 47.9 19

20 ABS issuers 127.8 114.6 137.3 258.1 153.7 169.5 264.6 221.2 248.6 437.3 20

21 Finance companies 47.9 54.7 29.3 60.9 75.5 86.3 10.9 66.2 111.1 134.3 21

22 REITs 4.5 11.9 39.6 62.7 12.3 2.6 3.2 26.9 32.1 95.1 22

23 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 23

24 Funding corporations 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -2.0 -2.2 24

25 Total net lending 1196.5 1335.8 1457.7 2070.8 2089.4 1721.6 2013.8 2384.5 2785.6 3120.7 25

26 Domestic nonfinancial sectors -84.4 85.4 -15.9 147.0 145.2 56.5 11.9 168.1 166.0 344.2 26

27 Household sector 36.5 121.4 -22.7 35.7 66.3 -50.8 -88.3 48.9 112.0 226.8 27

28 Nonfinancial corporate business -8.8 -10.2 -7.2 -17.0 -24.2 26.5 -4.7 25.8 -3.2 31.1 28

29 Nonfarm noncorporate business 3.8 4.0 2.6 12.9 -3.1 2.1 7.1 -0.8 1.5 11.5 29

30 State and local governments -91.4 -33.7 0.1 109.7 101.9 70.7 93.9 86.2 58.3 72.4 30

31 Federal government -24.7 3.9 11.3 5.6 4.3 8.1 3.9 8.0 -2.6 2.3 31

32 Rest of the world 246.8 379.6 259.6 168.5 146.4 242.2 299.2 467.2 582.8 854.4 32

33 Financial sectors 1034.1 870.8 1213.9 1755.3 1797.8 1422.8 1702.6 1749.2 2036.7 1922.1 33

34 Monetary authority 12.7 12.3 38.3 21.1 25.7 33.7 39.9 77.7 37.2 51.2 34

35 Commercial banking 265.9 187.5 324.3 305.6 312.2 357.9 205.2 404.4 332.9 608.0 35

36 U.S.-chartered commercial banks 186.5 119.6 274.9 312.1 318.6 339.5 191.6 393.8 352.2 571.1 36

37 Foreign banking offices in U.S. 75.4 63.3 40.2 -11.6 -17.0 23.9 -0.6 6.2 -38.5 23.0 37

38 Bank holding companies -0.3 3.9 5.4 -0.9 6.2 -12.2 4.2 3.1 8.6 -0.0 38

39 Banks in U.S.-affiliated areas 4.2 0.7 3.7 6.0 4.4 6.7 10.0 1.3 10.6 13.9 39

40 Savings institutions -7.6 19.9 -4.7 37.0 67.2 56.2 44.4 33.4 127.3 103.5 40

41 Credit unions 16.2 25.5 16.8 18.9 27.5 28.0 41.5 44.2 51.2 39.8 41

42 Property-casualty insurance companies 21.5 22.5 25.2 5.8 -3.0 -8.7 9.0 39.9 67.0 73.6 42

43 Life insurance companies 100.0 69.6 104.8 76.9 53.5 57.9 130.9 233.0 180.6 173.0 43

44 Private pension funds 16.9 -6.1 44.5 -7.1 107.2 -125.0 -36.0 -8.6 69.2 -0.3 44

45 State and local govt. retirement funds 31.1 28.6 59.9 63.2 45.5 36.3 -53.8 -50.7 18.8 17.8 45

46 Federal government retirement funds 3.4 2.4 1.8 2.7 2.9 2.1 9.7 12.7 6.0 4.7 46

47 Money market mutual funds 86.5 88.8 87.5 248.6 184.9 138.3 267.3 -17.7 -95.9 -124.9 47

48 Mutual funds 52.5 48.9 80.9 127.3 48.4 26.3 126.6 138.7 138.0 116.6 48

49 Closed-end funds 8.5 2.9 -1.1 4.9 9.6 -5.6 3.2 8.6 35.5 11.0 49

50 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 0.7 3.8 50

51 Government-sponsored enterprises 95.3 97.3 106.7 317.3 287.3 246.0 304.7 224.1 241.0 48.9 51

52 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 330.6 47.9 52

53 ABS issuers 110.7 100.2 114.4 252.3 174.4 156.5 251.8 227.9 240.1 427.9 53

54 Finance companies 46.5 27.1 14.0 84.9 106.9 136.5 49.9 103.7 122.9 214.9 54

55 REITs 1.4 4.4 20.2 -5.1 1.5 -5.3 8.6 22.2 26.2 87.5 55

56 Brokers and dealers 90.1 -15.7 14.9 6.8 -34.7 68.9 92.4 28.4 79.6 -29.2 56

57 Funding corporations -15.8 13.8 51.1 1.5 106.3 23.2 -131.1 -103.2 27.6 46.6 57

(1) Excludes corporate equities and mutual fund shares.
2 FFA, 1995-2004, December 11, 2008

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Domestic 678.8 733.8 813.6 1006.8 1043.1 864.8 1152.7 1412.3 1677.4 1990.5 1

 2 By instrument 678.8 733.8 813.6 1006.8 1043.1 864.8 1152.7 1412.3 1677.4 1990.5 2

 3 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 3

 4 Treasury securities 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 4

 5 Agency- and GSE-backed securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 5

 6 Municipal securities -57.6 -6.5 56.9 84.2 54.4 23.6 122.8 159.4 137.6 130.5 6

 7 Corporate bonds 104.2 128.0 181.1 214.9 225.9 164.0 343.4 133.4 152.2 75.5 7

 8 Bank loans n.e.c. 103.7 70.4 106.4 107.6 77.3 95.1 -87.2 -106.6 -77.0 10.8 8

 9 Other loans and advances 36.7 30.4 63.3 69.2 35.5 96.6 5.6 27.6 10.2 58.1 9

10 Mortgages 182.2 261.8 298.8 462.0 571.5 556.6 706.2 890.9 991.3 1223.4 10

11 Home 167.9 223.6 234.8 356.7 428.3 427.2 551.8 756.6 801.9 1022.3 11

12 Multifamily residential 4.6 9.7 7.0 25.4 39.1 26.9 40.3 36.9 71.4 48.4 12

13 Commercial 7.9 25.7 52.9 75.4 100.0 105.1 110.3 90.5 119.4 150.0 13

14 Farm 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -1.3 2.7 14

15 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.7 107.9 104.4 115.0 15

16 By sector 678.8 733.8 813.6 1006.8 1043.1 864.8 1152.7 1412.3 1677.4 1990.5 16

17 Household sector 309.8 336.4 300.9 426.0 495.0 583.5 672.2 830.8 984.1 1058.1 17

18 Nonfinancial business 285.3 273.0 438.8 566.6 582.0 560.3 380.6 179.8 177.2 455.2 18

19 Corporate 237.7 199.9 333.9 383.1 383.6 361.9 212.7 22.9 87.3 204.0 19

20 Nonfarm noncorporate 45.1 69.0 97.7 175.5 195.2 196.4 161.5 149.8 91.6 245.2 20

21 Farm 2.5 4.2 7.3 8.1 3.3 2.0 6.4 7.1 -1.6 6.0 21

22 State and local governments -60.8 -20.5 50.8 66.8 37.3 16.9 105.5 144.1 120.1 115.4 22

23 Federal government 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 23

24 Foreign borrowing in U.S. 78.3 88.0 69.9 37.2 19.0 63.0 -11.2 93.4 42.4 154.7 24

25 Commercial paper 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.3 68.7 25

26 Bonds 56.9 66.6 59.6 28.8 7.9 21.2 -18.5 31.6 28.7 85.8 26

27 Bank loans n.e.c. 8.5 9.1 8.5 6.6 0.5 11.4 -7.3 5.3 -2.5 3.8 27

28 Other loans and advances -0.5 1.0 -1.8 -6.0 -5.7 -1.3 -3.8 -2.3 -2.1 -3.6 28

29 Domestic and foreign 757.1 821.8 883.6 1044.1 1062.0 927.8 1141.5 1505.7 1719.8 2145.3 29

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument 439.5 514.0 574.1 1026.8 1027.4 793.8 872.3 878.8 1065.8 975.4 1

 2 Open market paper 42.7 92.2 166.7 161.0 176.2 131.7 -126.9 -99.9 -62.9 22.2 2

 3 GSE issues 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 3

 4 Agency- and GSE-backed mortgage pool sec. 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 330.6 47.9 4

 5 Corporate bonds 181.2 141.9 130.0 246.8 151.7 173.0 310.1 393.4 486.4 672.3 5

 6 Bank loans n.e.c. 2.5 12.6 13.3 32.3 -7.9 6.9 18.7 21.1 21.4 58.1 6

 7 Other loans and advances 3.4 27.9 35.6 90.2 107.1 42.5 25.5 6.8 31.2 74.1 7

 8 Mortgages 5.3 7.9 14.9 24.8 6.9 4.9 2.2 11.0 8.2 25.9 8

 9 By sector 439.5 514.0 574.1 1026.8 1027.4 793.8 872.3 878.8 1065.8 975.4 9

10 Commercial banking 22.5 13.0 46.1 72.9 67.2 60.0 52.9 49.7 48.5 78.4 10

11 U.S.-chartered commercial banks 11.2 11.7 29.5 52.8 41.8 36.8 30.2 29.9 13.2 18.7 11

12 Foreign banking offices in U.S. -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 12

13 Bank holding companies 14.4 2.0 19.0 24.9 25.8 23.2 23.6 20.3 35.4 59.5 13

14 Savings institutions 2.6 25.5 19.7 52.2 48.0 27.3 -2.0 -23.4 34.5 89.0 14

15 Credit unions -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 15

16 Life insurance companies -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 16

17 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 17

18 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 330.6 47.9 18

19 ABS issuers 127.8 114.6 137.3 258.1 153.7 169.5 264.6 221.2 248.6 437.3 19

20 Finance companies 47.9 54.7 29.3 60.9 75.5 86.3 10.9 66.2 111.1 134.3 20

21 REITs 4.5 11.9 39.6 62.7 12.3 2.6 3.2 26.9 32.1 95.1 21

22 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 22

23 Funding corporations 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -2.0 -2.2 23
FFA, 1995-2004, December 11, 2008 3

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total 1196.5 1335.8 1457.7 2070.8 2089.4 1721.6 2013.8 2384.5 2785.6 3120.7 1

 2 Open market paper 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 2

 3 Treasury securities 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 3

 4 Agency- and GSE-backed securities 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 579.1 122.3 4

 5 Municipal securities -57.6 -6.5 56.9 84.2 54.4 23.6 122.8 159.4 137.6 130.5 5

 6 Corporate and foreign bonds 342.3 336.5 370.7 490.6 385.5 358.2 635.0 558.3 667.3 833.6 6

 7 Bank loans n.e.c. 114.7 92.1 128.2 146.5 69.8 113.3 -75.8 -80.2 -58.1 72.7 7

 8 Other loans and advances 39.7 59.4 97.0 153.4 136.9 137.8 27.3 32.0 39.3 128.6 8

 9 Mortgages 187.5 269.6 313.7 486.8 578.4 561.5 708.4 901.8 999.5 1249.3 9

10 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.7 107.9 104.4 115.0 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

11 Total net issues 148.9 252.3 218.8 166.2 193.0 242.6 303.5 228.2 430.5 368.7 11

12 Corporate equities 1.5 14.7 -46.4 -113.3 1.7 5.0 98.6 47.1 141.9 70.4 12

13 Nonfinancial -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -41.4 -41.1 -124.4 13

 Foreign shares purchased by

14 U.S. residents 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 14

15 Financial -5.6 -20.8 -26.6 0.9 -2.2 16.5 37.6 71.5 64.9 110.1 15

16 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 16

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

Billions of dollars

 Net flows through credit markets

 1 (from table F.4, line 1) 1196.5 1335.8 1457.7 2070.8 2089.4 1721.6 2013.8 2384.5 2785.6 3120.7 1

 2 Official foreign exchange 8.8 -6.3 0.7 6.6 -8.7 -0.4 4.3 3.2 -0.9 -3.2 2

 3 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 3

 4 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 4

 5 Foreign deposits 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 36.0 89.9 5

 6 Net interbank transactions 10.1 -51.7 -19.6 -31.8 18.1 12.0 -28.0 17.4 -14.5 19.4 6

 7 Checkable deposits and currency -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 7

 8 Small time and savings deposits 112.6 123.9 129.5 189.3 83.8 231.0 314.6 325.4 307.4 281.6 8

 9 Large time deposits 65.6 114.0 122.5 91.8 131.1 116.2 68.5 50.0 55.8 252.9 9

10 Money market fund shares 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 10

11 Security RPs 102.0 38.0 101.0 44.3 128.0 88.0 45.3 96.6 214.4 86.9 11

12 Corporate equities 1.5 14.7 -46.4 -113.3 1.7 5.0 98.6 47.1 141.9 70.4 12

13 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 13

14 Trade payables 122.2 110.7 127.6 104.6 255.7 393.2 -84.4 86.7 22.4 194.5 14

15 Security credit 26.7 52.4 111.0 103.2 104.4 146.1 3.1 -87.0 120.0 179.4 15

16 Life insurance reserves 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 16

17 Pension fund reserves 176.8 151.6 213.4 282.0 182.9 271.6 266.3 262.9 258.5 288.4 17

18 Taxes payable 5.4 16.9 19.3 14.7 22.9 25.9 14.4 22.2 -1.1 28.5 18

19 Noncorporate proprietors’ equity 24.9 -5.2 -61.8 -83.8 -86.3 -35.1 -19.0 -85.8 45.5 -18.0 19

20 Miscellaneous 491.5 530.2 469.2 956.3 1168.7 1400.7 663.4 469.4 442.4 1641.6 20

21 Total financial sources 2688.4 2927.5 3220.9 4268.4 4744.4 4907.9 4190.1 3831.2 4646.1 6513.8 21

 - Liabilities not identified as assets:

22 Treasury currency -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 22

23 Foreign deposits 25.0 59.4 106.2 -5.7 34.0 76.4 -12.9 21.5 52.8 61.9 23

24 Net interbank liabilities -3.0 -3.4 -19.8 3.8 3.2 17.3 17.2 7.2 -4.3 14.9 24

25 Security RPs 16.8 -1.3 42.9 14.4 -2.4 117.0 -29.7 26.0 -38.2 -141.1 25

26 Taxes payable 22.0 21.5 29.0 20.8 10.8 32.6 20.1 19.7 -42.6 -20.2 26

27 Miscellaneous -241.5 -219.1 -389.7 -127.9 -252.1 -341.8 -230.3 -51.1 -48.5 144.3 27

 - Floats not included in assets:

28 Checkable deposits: Federal govt. -6.0 0.5 -2.7 2.6 -7.4 9.0 -40.0 -1.6 -8.9 27.9 28

29 Other -3.8 -4.0 -3.9 -3.1 -0.8 -0.3 -0.5 -0.7 -0.0 -0.8 29

30 Trade credit 3.6 -28.1 -23.1 -18.6 14.7 15.0 7.2 164.9 23.1 11.2 30

 Totals identified to sectors

31 as assets 2875.7 3102.6 3482.0 4382.4 4945.1 4983.8 4459.2 3645.8 4713.0 6416.0 31
4 FFA, 1995-2004, December 11, 2008

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross Domestic Product (GDP) 7397.7 7816.9 8304.3 8747.0 9268.4 9817.0 10128.0 10469.6 10960.8 11685.9 1

 2 Personal consumption expenditures (2) 4975.8 5256.8 5547.4 5879.5 6282.5 6739.4 7055.0 7350.7 7703.6 8195.9 2

 3 Durable goods 611.6 652.6 692.7 750.2 817.6 863.3 883.7 923.9 942.7 983.9 3

 4 Nondurable goods 1485.1 1555.5 1619.0 1683.6 1804.8 1947.2 2017.1 2079.6 2190.2 2343.7 4

 5 Services 2879.1 3048.7 3235.8 3445.7 3660.0 3928.8 4154.3 4347.2 4570.8 4868.3 5

 6 Gross private domestic investment 1144.0 1240.3 1389.8 1509.1 1625.6 1735.5 1614.3 1582.1 1664.1 1888.6 6

 7 Fixed investment 1112.9 1209.5 1317.8 1438.4 1558.8 1679.0 1646.1 1570.2 1649.8 1830.0 7

 8 Nonresidential 810.0 875.4 968.7 1052.5 1133.9 1232.1 1176.8 1066.3 1077.4 1154.5 8

 9 Household sector (nonprofit organizations) 46.2 48.8 62.2 69.9 70.9 76.7 80.6 84.9 91.2 98.3 9

10 Nonfinancial corporate business 574.3 617.7 673.8 711.8 802.4 878.7 837.7 730.8 743.5 783.9 10

11 Nonfarm noncorporate business 96.1 91.5 72.2 84.7 126.4 149.3 132.1 113.7 116.2 105.9 11

12 Farm business 21.6 23.1 26.5 26.4 22.5 24.9 26.6 28.7 28.4 31.5 12

13 Financial corporations 71.8 94.3 134.0 159.7 111.7 102.5 99.8 108.3 98.1 134.9 13

14 Residential 302.8 334.1 349.1 385.8 424.9 446.9 469.3 503.9 572.4 675.5 14

15 Household sector 254.9 280.9 293.3 330.0 359.7 373.6 398.2 427.7 492.7 574.3 15

16 Nonfinancial corporate business 2.6 2.5 2.7 2.7 3.2 3.4 3.6 3.7 4.0 4.4 16

17 Nonfarm noncorporate business 42.6 46.3 41.8 41.7 60.1 66.1 63.4 68.0 76.0 89.1 17

18 REITs 2.7 4.4 11.3 11.4 1.8 3.9 4.1 4.5 -0.4 7.7 18

19 Change in private inventories 31.1 30.8 72.0 70.8 66.9 56.5 -31.7 11.9 14.3 58.6 19

20 Nonfinancial corporate business 40.1 21.0 65.3 65.9 66.1 54.9 -30.1 13.6 13.2 48.0 20

21 Nonfarm noncorporate business 2.1 1.1 3.4 3.5 3.5 2.9 -1.6 0.7 0.7 2.5 21

22 Farm business -11.1 8.6 3.2 1.4 -2.7 -1.3 -0.0 -2.5 0.4 8.0 22

23 Net U.S. exports of goods and services -91.4 -96.2 -101.6 -159.9 -260.5 -379.5 -367.0 -424.4 -499.4 -615.4 23

24 Exports 812.2 868.6 955.3 955.9 991.2 1096.3 1032.8 1005.9 1040.8 1182.4 24

25 - Imports 903.6 964.8 1056.9 1115.9 1251.7 1475.8 1399.8 1430.3 1540.2 1797.8 25

 Government consumption expenditures and

26 gross investment 1369.2 1416.0 1468.7 1518.3 1620.8 1721.6 1825.6 1961.1 2092.5 2216.8 26

27 Consumption expenditures (3) 1136.5 1171.1 1216.6 1256.0 1334.0 1417.1 1501.6 1616.9 1736.5 1844.0 27

28 Federal 440.5 446.3 457.7 454.6 475.1 499.3 531.9 591.5 662.7 723.7 28

29 State and local 696.0 724.8 758.9 801.4 858.9 917.8 969.8 1025.3 1073.8 1120.3 29

30 Gross investment (3) 232.7 244.9 252.2 262.4 286.8 304.5 324.0 344.3 356.0 372.8 30

31 Federal 78.8 81.1 73.2 75.8 80.7 79.5 81.0 88.1 93.7 101.9 31

32 State and local 154.0 163.8 178.9 186.5 206.0 225.0 243.0 256.1 262.2 270.9 32

 Memo:

33 Net U.S. income receipts from rest of the world 35.8 35.0 32.9 21.3 33.8 38.9 43.6 30.6 56.8 76.2 33

34 U.S. income receipts 233.9 248.7 286.7 287.1 320.8 382.7 322.4 305.7 336.8 437.5 34

35 - U.S. income payments 198.1 213.7 253.7 265.8 287.0 343.7 278.8 275.0 280.0 361.3 35

 Gross National Product (GNP) =

36 GDP + net U.S. income receipts 7433.4 7851.9 8337.3 8768.3 9302.2 9855.9 10171.6 10500.2 11017.6 11762.1 36

(1) This table is based on NIPA table 1.1.5 in the Survey of Current Business, Department of Commerce.

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

(3) Government inventory investment is included in consumption expenditures.
FFA, 1995-2004, December 11, 2008 5

F.7 Distribution of National Income (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 National Income 6453.9 6840.1 7292.2 7752.8 8236.6 8795.2 8979.8 9229.3 9632.3 10306.8 1

 2 Compensation of employees 4193.3 4390.5 4661.7 5019.4 5357.1 5782.7 5942.1 6091.2 6325.4 6656.4 2

 3 Wages and other labor income 3912.9 4112.0 4375.1 4713.1 5028.6 5439.1 5585.5 5725.9 5928.3 6263.1 3

 4 Employer social insurance contributions 264.0 274.9 289.5 307.0 323.3 343.5 356.6 365.2 382.1 408.3 4

 5 Wage accruals less disbursements 16.4 3.6 -2.9 -0.7 5.2 0.0 0.0 0.0 15.0 -15.0 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments 492.1 543.2 576.0 627.8 678.3 728.4 771.9 768.4 811.3 911.6 6

 7 Nonfarm 469.5 505.9 541.8 598.4 649.7 705.7 752.2 757.8 782.1 874.3 7

 8 Farm 22.7 37.3 34.2 29.4 28.6 22.7 19.7 10.6 29.2 37.3 8

 Rental income of persons (with capital

 9 consumption adjustment) 122.1 131.5 128.8 137.5 147.3 150.3 167.4 152.9 133.0 118.4 9

 Corporate profits with inventory

10 valuation and capital consumption adjustments 696.7 786.2 868.5 801.6 851.3 817.9 767.3 886.3 993.1 1231.2 10

 Corporate profits with inventory

11 valuation adjustment 656.0 736.1 812.3 738.5 776.8 759.3 719.2 766.2 894.5 1161.6 11

12 Profits before tax 674.3 733.0 798.2 718.3 775.9 773.4 707.9 768.4 908.1 1204.7 12

13 Domestic nonfinancial 418.7 457.2 492.6 449.1 456.7 421.9 309.9 336.4 424.3 660.1 13

14 Farm 0.6 1.4 1.6 0.3 1.3 1.9 0.8 -0.1 1.1 2.3 14

15 Rest of the world 92.8 101.9 110.9 103.0 121.5 145.7 169.7 155.8 165.5 193.4 15

16 Domestic financial 162.2 172.6 193.0 165.9 196.4 203.8 227.6 276.4 317.3 348.9 16

 Less:

17 Taxes on corporate income 218.7 231.7 246.1 248.3 258.6 265.2 204.1 192.6 243.3 307.4 17

18 Domestic nonfinancial 140.6 152.6 161.4 158.2 170.8 169.7 111.4 96.6 135.1 190.2 18

19 Farm 0.4 0.5 0.5 0.4 0.5 0.5 0.3 0.5 0.5 0.8 19

20 Domestic financial 77.6 78.6 84.2 89.7 87.4 94.9 92.4 95.6 107.6 116.4 20

 Equals:

21 Profits after tax 455.6 501.4 552.1 470.0 517.2 508.2 503.8 575.8 664.8 897.3 21

22 Net dividends 254.2 297.6 334.5 351.6 337.4 377.9 370.9 399.2 424.7 539.5 22

23 Domestic nonfinancial 176.9 196.5 214.2 239.6 222.7 249.7 243.5 252.7 290.6 364.2 23

24 Farm 1.1 1.0 1.7 1.4 1.9 1.7 1.9 2.1 2.1 2.8 24

25 Rest of the world 32.6 40.3 50.6 42.5 41.7 29.5 40.9 47.9 32.0 47.8 25

26 Domestic financial 43.6 59.8 68.0 68.2 71.0 97.1 84.6 96.5 100.1 124.7 26

27 Undistributed profits 201.4 203.8 217.6 118.3 179.9 130.3 132.9 176.6 240.0 357.8 27

28 Domestic nonfinancial 101.3 108.1 117.0 51.3 63.2 2.5 -45.0 -13.0 -1.4 105.7 28

29 Farm -1.0 -0.1 -0.6 -1.6 -1.1 -0.2 -1.5 -2.6 -1.5 -1.3 29

30 Rest of the world 60.2 61.6 60.3 60.5 79.8 116.2 128.8 108.0 133.5 145.6 30

31 Domestic financial 41.0 34.3 40.8 8.1 38.0 11.7 50.5 84.3 109.6 107.8 31

32 Inventory valuation adjustment -18.3 3.1 14.1 20.2 1.0 -14.1 11.3 -2.2 -13.6 -43.1 32

33 Capital consumption adjustment 40.7 50.1 56.2 63.1 74.5 58.6 48.1 120.1 98.7 69.7 33

34 Domestic nonfinancial 50.3 60.5 63.9 67.6 77.5 65.3 34.7 94.5 80.3 62.4 34

35 Farm 1.2 1.1 1.1 1.1 1.1 1.3 0.5 0.8 0.0 0.0 35

36 Domestic financial -10.8 -11.5 -8.8 -5.6 -4.2 -8.0 12.9 24.8 18.3 7.3 36

37 Net interest and miscellaneous payments 367.1 376.2 415.6 487.1 495.4 559.0 566.3 520.9 524.7 491.2 37

38 Taxes on production and imports 558.2 581.1 612.0 639.8 674.0 708.9 728.6 762.8 807.2 863.8 38

39 Less: Subsidies 34.0 34.3 32.9 35.4 44.2 44.3 55.3 38.4 47.9 44.6 39

40 Business current transfer payments (net) 46.9 53.1 49.9 64.7 67.4 87.1 92.8 84.3 83.8 83.0 40

41 Current surplus of government enterprises 11.4 12.7 12.6 10.3 10.1 5.3 -1.4 0.9 1.7 -4.2 41

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

42 National Income, from line 1 above 6453.9 6840.1 7292.2 7752.8 8236.6 8795.2 8979.8 9229.3 9632.3 10306.8 42

 Plus:

43 Private consumption of fixed capital 713.3 748.8 800.3 851.2 914.3 990.8 1075.5 1080.3 1118.3 1206.0 43

44 Government consumption of fixed capital 165.0 169.3 174.1 179.0 187.0 197.0 206.0 211.6 218.2 230.2 44

45 Statistical discrepancy 101.2 93.7 70.7 -14.6 -35.7 -127.2 -89.6 -21.0 48.8 19.2 45

 Less:

46 Net U.S. income receipts from rest of the world 35.8 35.0 32.9 21.3 33.8 38.9 43.6 30.6 56.8 76.2 46

 Equals:

47 Gross Domestic Product 7397.7 7816.9 8304.3 8747.0 9268.4 9817.0 10128.0 10469.6 10960.8 11685.9 47

(1) This table corresponds to NIPA table 1.12 in the Survey of Current Business, Department of Commerce.

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Department of Commerce.
6 FFA, 1995-2004, December 11, 2008

F.8 Saving and Investment (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1184.6 1291.1 1461.1 1598.7 1674.3 1770.5 1657.6 1489.1 1459.0 1618.1 1

 2 Net saving 306.2 373.0 486.6 568.6 573.0 582.7 376.1 197.1 122.5 182.0 2

 3 Net private saving 491.1 489.0 503.3 477.8 419.0 343.3 324.6 479.2 515.0 551.1 3

 4 Personal saving 250.9 228.4 218.3 276.8 158.6 168.5 132.3 184.7 174.9 181.7 4

 5 Undistributed corporate profits w/IVA & CCA 223.8 256.9 287.9 201.7 255.3 174.8 192.3 294.5 325.1 384.4 5

 6 Undistributed profits 201.4 203.8 217.6 118.3 179.9 130.3 132.9 176.6 240.0 357.8 6

 7 Inventory valuation adjustment -18.3 3.1 14.1 20.2 1.0 -14.1 11.3 -2.2 -13.6 -43.1 7

 8 Capital consumption adjustment 40.7 50.1 56.2 63.1 74.5 58.6 48.1 120.1 98.7 69.7 8

 9 Wage accruals less disbursements 16.4 3.6 -2.9 -0.7 5.2 0.0 0.0 0.0 15.0 -15.0 9

10 Net government saving -184.9 -116.0 -16.7 90.8 154.0 239.4 51.5 -282.1 -392.5 -369.1 10

11 Federal -197.0 -141.8 -55.8 38.8 103.6 189.5 46.7 -247.9 -372.1 -370.6 11

12 State and local 12.0 25.8 39.1 52.0 50.4 50.0 4.8 -34.2 -20.4 1.5 12

13 Consumption of fixed captal 878.4 918.1 974.4 1030.2 1101.3 1187.8 1281.5 1292.0 1336.5 1436.1 13

14 Private 713.3 748.8 800.3 851.2 914.3 990.8 1075.5 1080.3 1118.3 1206.0 14

15 Domestic business 600.2 630.7 675.2 718.3 769.8 836.1 903.7 893.6 916.6 970.2 15

16 Households and institutions 113.2 118.2 125.1 132.9 144.5 154.8 171.7 186.8 201.7 235.8 16

17 Government 165.0 169.3 174.1 179.0 187.0 197.0 206.0 211.6 218.2 230.2 17

18 Federal 81.9 82.0 82.5 82.8 84.8 87.2 88.2 88.9 90.4 94.0 18

19 State and local 83.1 87.2 91.6 96.2 102.1 109.8 117.8 122.7 127.8 136.1 19

 Gross domestic investment, capital account

20 transactions, and net lending, NIPAs 1285.7 1384.8 1531.7 1584.1 1638.5 1643.3 1567.9 1468.1 1507.8 1637.3 20

21 Gross domestic investment 1376.7 1485.2 1641.9 1771.5 1912.4 2040.0 1938.3 1926.4 2020.0 2261.4 21

22 Gross private domestic investment 1144.0 1240.3 1389.8 1509.1 1625.6 1735.5 1614.3 1582.1 1664.1 1888.6 22

23 Fixed investment 1112.9 1209.5 1317.8 1438.4 1558.8 1679.0 1646.1 1570.2 1649.8 1830.0 23

24 Nonresidential 810.0 875.4 968.7 1052.5 1133.9 1232.1 1176.8 1066.3 1077.4 1154.5 24

25 Residential 302.8 334.1 349.1 385.8 424.9 446.9 469.3 503.9 572.4 675.5 25

26 Change in private inventories 31.1 30.8 72.0 70.8 66.9 56.5 -31.7 11.9 14.3 58.6 26

27 Gross government investment 232.7 244.9 252.2 262.4 286.8 304.5 324.0 344.3 356.0 372.8 27

28 Capital account transactions (net) 0.9 0.7 1.0 0.7 4.8 0.8 1.1 1.4 3.2 2.4 28

29 Net lending or net borrowing (-), NIPAs -91.9 -101.0 -111.3 -188.1 -278.7 -397.4 -371.5 -459.7 -515.5 -626.5 29

30 Statistical discrepancy (line 20 less line 1) 101.2 93.7 70.7 -14.6 -35.7 -127.2 -89.6 -21.0 48.8 19.2 30

(1) This table corresponds to NIPA table 5.1 in the Survey of Current Business, Department of Commerce.

F.9 Net Capital Transfers (1)

Billions of dollars

 1 Capital transfers received by government (net) 19.6 23.1 26.8 32.4 32.5 35.6 35.7 29.0 11.2 13.6 1

 2 Federal -12.8 -10.7 -8.5 -3.6 -7.4 -8.1 -12.9 -23.1 -40.4 -38.4 2

 3 Estate and gift taxes paid by persons 14.9 17.5 20.6 25.2 28.8 28.1 28.0 25.3 22.0 24.6 3

 4 - Capital transfers paid to persons 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.6 14.8 16.1 4

 5 - Capital transfers paid to the rest of the world (net) 0.4 0.0 0.2 0.0 4.2 0.0 0.0 0.2 1.9 0.7 5

 6 - Federal investment grants to state and local govts. 27.3 28.2 28.9 28.8 31.9 36.2 40.8 44.6 45.5 46.3 6

 7 - Investment grants to business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 7

 8 State and local 32.4 33.9 35.3 36.0 39.9 43.7 48.6 52.1 51.6 52.1 8

 9 Estate and gift taxes paid by persons 5.1 5.6 6.4 7.2 7.9 7.5 7.8 7.4 6.1 5.8 9

10 + Federal investment grants to state and local govts. 27.3 28.2 28.9 28.8 31.9 36.2 40.8 44.6 45.5 46.3 10

11 Capital transfers received by rest of the world (net) 1.1 0.6 1.0 0.8 4.9 0.8 1.1 1.4 3.4 2.4 11

12 Capital transfers received from U.S. government (net) 0.4 0.0 0.2 0.0 4.2 0.0 0.0 0.2 1.9 0.7 12

13 - Migrants’ transfers received by persons (net) -0.7 -0.6 -0.8 -0.7 -0.7 -0.8 -1.1 -1.2 -1.5 -1.7 13

 Memo:

 Acquisition of nonproduced nonfinancial assets (net)

14 Nonfinancial corporate business 0.6 -2.3 1.9 -1.9 -7.7 -8.5 -8.6 -10.9 -10.8 -10.6 14

15 State and local governments 6.6 6.1 5.8 7.5 8.6 8.8 9.2 10.6 10.9 10.5 15

16 Federal governments -7.4 -3.8 -7.6 -5.6 -0.9 -0.3 -0.7 0.3 -0.2 0.0 16

17 Rest of the world 0.2 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.2 0.0 17

(1) This table is based on NIPA table 5.10 in the Survey of Current Business, Department of Commerce.
FFA, 1995-2004, December 11, 2008 7

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 538.7 611.2 612.1 783.1 635.6 394.8 644.6 633.0 991.8 1310.9 1

 2 Foreign deposits 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.2 5.4 2

 3 Checkable deposits and currency -39.8 -47.2 -26.5 20.9 -41.6 -74.0 69.7 9.5 -35.5 54.4 3

 4 Time and savings deposits 143.4 148.3 157.5 137.8 162.8 352.7 288.1 329.0 348.5 448.2 4

 5 Money market fund shares 101.2 57.7 76.4 113.9 117.6 152.4 163.0 -39.2 -109.2 -50.6 5

 6 Securities 27.2 140.8 -24.1 -45.9 -27.3 -622.6 -419.9 -53.4 299.2 173.0 6

 7 Open market paper 2.0 4.1 1.3 3.0 4.7 12.4 -0.0 13.1 -4.5 30.2 7

 8 U.S. savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 8

 9 Other Treasury securities -17.6 -2.2 -138.9 -63.7 -0.6 -204.3 -88.3 -131.8 22.0 31.7 9

10 Agency- and GSE-backed securities 28.2 102.3 54.3 70.6 83.4 38.6 -103.3 -142.2 148.0 29.8 10

11 Municipal securities -59.9 -40.0 22.1 0.7 29.3 4.6 51.0 97.4 24.8 40.3 11

12 Corporate and foreign bonds 91.7 68.1 50.2 34.8 -58.8 99.1 44.6 200.2 -91.3 90.7 12

13 Corporate equities (2) -69.0 -156.5 -217.3 -287.7 -157.2 -638.0 -490.5 -187.6 -83.0 -266.6 13

14 Mutual fund shares 46.7 163.0 204.7 196.1 72.1 66.7 161.1 92.9 274.4 216.4 14

15 Life insurance reserves 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 15

16 Pension fund reserves 176.8 151.6 213.4 282.0 182.9 271.6 266.3 262.9 258.5 288.4 16

17 Miscellaneous and other assets 79.5 103.2 149.6 225.8 187.5 256.9 199.8 62.8 161.4 359.0 17

18 Gross investment in tangible assets 1012.4 1094.9 1133.3 1243.4 1389.5 1487.2 1513.5 1571.7 1680.7 1818.8 18

19 Residential fixed investment 297.5 327.2 335.0 371.7 419.9 439.6 461.6 495.7 568.7 663.4 19

20 Other fixed assets (3) 163.9 163.4 160.9 181.0 219.8 250.8 239.3 227.3 235.8 235.7 20

21 Consumer durables 560.0 594.6 630.7 685.9 749.0 795.1 814.2 850.4 875.1 909.1 21

22 Inventories (3) -9.0 9.7 6.7 4.8 0.8 1.6 -1.6 -1.7 1.1 10.6 22

23 Consumption of fixed capital 712.1 743.0 778.0 821.0 873.8 940.9 971.5 1007.9 1057.6 1141.7 23

24 Residential fixed investment 121.6 130.0 143.1 156.5 173.6 189.7 174.8 181.7 195.8 233.4 24

25 Other fixed assets (3) 126.2 129.5 133.8 139.6 148.2 161.9 176.8 181.1 192.3 205.8 25

26 Consumer durables 464.3 483.5 501.1 524.9 552.0 589.2 619.8 645.2 669.4 702.5 26

27 Net investment in tangible assets (4) 300.3 352.0 355.3 422.4 515.7 546.3 542.0 563.7 623.2 677.1 27

28 Residential fixed investment 175.9 197.2 191.9 215.2 246.3 249.9 286.8 314.0 372.9 430.0 28

29 Other fixed assets (3) 37.6 34.0 27.1 41.4 71.6 88.9 62.5 46.2 43.5 29.9 29

30 Consumer durables 95.7 111.1 129.6 160.9 197.1 205.9 194.4 205.2 205.7 206.6 30

31 Inventories (3) -9.0 9.7 6.7 4.8 0.8 1.6 -1.6 -1.7 1.1 10.6 31

32 Net increase in liabilities 397.6 498.2 544.7 765.3 892.2 931.6 853.7 1005.4 1110.6 1509.9 32

33 Mortgage debt on nonfarm homes 168.0 222.5 234.5 355.3 426.2 425.2 549.7 755.9 799.9 1017.6 33

34 Other mortgage debt (3) 6.1 28.5 32.2 105.6 102.8 109.5 103.8 104.3 130.0 151.7 34

35 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.7 107.9 104.4 115.0 35

36 Policy loans 10.5 4.5 3.2 0.1 -5.1 2.8 2.2 1.0 -0.7 1.6 36

37 Security credit 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 37

38 Other liabilities (3) 62.5 121.1 167.8 185.6 180.8 210.3 86.1 84.4 42.6 142.5 38

39 Net capital transfers (5) -20.7 -23.8 -27.8 -33.1 -37.4 -36.4 -36.8 -30.4 -14.8 -16.0 39

40 Personal saving, with consumer durables (FOF) 462.1 488.7 450.4 473.3 296.5 45.9 369.8 221.8 519.2 494.0 40

41 Less net investment in consumer durables 95.7 111.1 129.6 160.9 197.1 205.9 194.4 205.2 205.7 206.6 41

42 = Personal saving, without consumer durables (FOF) (6) 366.5 377.6 320.8 312.4 99.4 -160.0 175.4 16.5 313.5 287.5 42

43 Personal saving (NIPA, excludes consumer durables) 250.9 228.4 218.3 276.8 158.6 168.5 132.3 184.7 174.9 181.7 43

44 Difference 115.5 149.2 102.5 35.6 -59.2 -328.4 43.1 -168.2 138.6 105.8 44

 Memo:

45 Disposable personal income 5408.2 5688.5 5988.8 6395.9 6694.9 7194.0 7486.8 7830.1 8162.5 8680.9 45

 Personal saving as a percentage of disposable personal income:

46 With consumer durables (FOF) (line 40) 8.5 8.6 7.5 7.4 4.4 0.6 4.9 2.8 6.4 5.7 46

47 Without consumer durables (FOF) (line 42) 6.8 6.6 5.4 4.9 1.5 -2.2 2.3 0.2 3.8 3.3 47

48 Without consumer durables (NIPA) (line 43) 4.6 4.0 3.6 4.3 2.4 2.3 1.8 2.4 2.1 2.1 48

49 Difference (line 44) 2.1 2.6 1.7 0.6 -0.9 -4.6 0.6 -2.1 1.7 1.2 49

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

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

(3) Includes corporate farms.

(4) Line 18 less line 23.

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

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

 (line 27 less line 41) less net increase in liabilities (line 32) less net capital transfers (line 39). Line 43 is disposable personal income (line 45) less personal outlays (table F.100, line 4).
8 FFA, 1995-2004, December 11, 2008

F.100 Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Personal income 6152.3 6520.6 6915.1 7423.0 7802.4 8429.7 8724.1 8881.9 9163.6 9727.2 1

 2 - Personal current taxes 744.1 832.1 926.3 1027.0 1107.5 1235.7 1237.3 1051.8 1001.1 1046.3 2

 3 = Disposable personal income 5408.2 5688.5 5988.8 6395.9 6694.9 7194.0 7486.8 7830.1 8162.5 8680.9 3

 4 - Personal outlays 5157.3 5460.0 5770.5 6119.1 6536.4 7025.6 7354.5 7645.3 7987.7 8499.2 4

 5 = Personal saving, NIPA (2) 250.9 228.4 218.3 276.8 158.6 168.5 132.3 184.7 174.9 181.7 5

 6 + Government insurance and pension reserves (3) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 6

 7 + Net investment in consumer durables 95.7 111.1 129.6 160.9 197.1 205.9 194.4 205.2 205.7 206.6 7

 8 + Consumption of fixed capital 585.4 609.9 635.0 667.3 706.6 754.9 799.1 834.0 873.2 940.6 8

 9 + Net capital transfers (4) -20.7 -23.8 -27.8 -33.1 -37.4 -36.4 -36.8 -30.4 -14.8 -16.0 9

10 = Gross saving and net capital transfers 914.9 929.1 958.6 1076.3 1028.7 1094.6 1092.3 1191.8 1238.5 1312.9 10

11 Gross investment 1026.6 1073.9 1057.1 1108.0 965.7 763.3 1133.0 1027.1 1379.2 1419.9 11

12 Capital expenditures 861.0 924.2 986.2 1085.7 1179.7 1245.4 1293.0 1363.0 1459.0 1581.7 12

13 Residential 254.9 280.9 293.3 330.0 359.7 373.6 398.2 427.7 492.7 574.3 13

14 Consumer durable goods 560.0 594.6 630.7 685.9 749.0 795.1 814.2 850.4 875.1 909.1 14

15 Nonprofit nonresidential 46.2 48.8 62.2 69.9 70.9 76.7 80.6 84.9 91.2 98.3 15

16 Net financial investment 165.5 149.7 70.9 22.3 -214.0 -482.1 -160.0 -335.8 -79.8 -161.8 16

17 Net acquisition of financial assets 487.4 510.7 417.8 477.2 362.5 112.5 471.1 466.8 944.3 995.8 17

18 Foreign deposits 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.2 5.4 18

19 Checkable deposits and currency -53.5 -66.5 -49.0 14.5 -46.9 -82.6 68.6 6.4 -42.0 -33.0 19

20 Time and savings deposits 139.1 144.8 146.8 97.0 109.8 284.6 281.0 314.5 303.9 444.1 20

21 Money market fund shares 99.3 55.5 72.7 104.3 109.5 143.7 153.4 -41.5 -111.5 -56.1 21

22 Credit market instruments 36.5 121.4 -22.7 35.7 66.3 -50.8 -88.3 48.9 112.0 226.8 22

23 Open market paper 2.0 4.1 1.3 3.0 4.7 12.4 -0.0 13.1 -4.5 30.2 23

24 Treasury securities -17.9 -5.1 -143.1 -69.3 0.0 -209.0 -85.4 -127.2 28.9 27.0 24

25 Savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 25

26 Other -22.9 -7.1 -142.6 -69.4 0.2 -207.3 -91.0 -131.8 20.0 26.4 26

27 Agency- and GSE-backed securities 28.2 102.3 54.3 70.6 83.4 38.6 -103.3 -142.2 148.0 29.8 27

28 Municipal securities -60.5 -40.5 21.5 1.1 29.4 4.8 49.9 97.6 25.4 38.6 28

29 Corporate and foreign bonds 91.7 68.1 50.2 34.8 -58.8 99.1 44.6 200.2 -91.3 90.7 29

30 Other loans and advances (5) 0.1 -0.1 0.1 -0.0 0.4 1.3 0.7 0.2 0.3 2.8 30

31 Mortgages -7.2 -7.5 -7.1 -4.5 7.1 1.9 5.2 7.3 5.2 7.7 31

32 Corporate equities (6) -69.0 -156.5 -217.3 -287.7 -157.2 -638.0 -490.5 -187.6 -83.0 -266.6 32

33 Mutual fund shares 46.7 163.0 204.7 196.1 72.1 66.7 161.1 92.9 274.4 216.4 33

34 Security credit 18.6 35.3 52.6 61.2 47.2 88.6 41.9 -41.6 62.7 103.0 34

35 Life insurance reserves 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 35

36 Pension fund reserves 176.8 151.6 213.4 282.0 182.9 271.6 266.3 262.9 258.5 288.4 36

37 Equity in noncorporate business 24.9 -5.2 -61.8 -83.8 -86.3 -35.1 -19.0 -85.8 45.5 -18.0 37

38 Miscellaneous assets 17.6 10.6 12.7 9.2 11.4 6.1 19.0 36.4 55.0 52.4 38

39 Net increase in liabilities 321.9 361.0 346.9 454.9 576.4 594.6 631.1 802.7 1024.1 1157.6 39

40 Credit market instruments 309.8 336.4 300.9 426.0 495.0 583.5 672.2 830.8 984.1 1058.1 40

41 Home mortgages (7) 154.0 205.5 216.1 301.6 380.0 385.7 506.9 706.4 859.7 934.8 41

42 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.7 107.9 104.4 115.0 42

43 Municipal securities 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.9 14.1 10.3 43

44 Bank loans n.e.c. 17.4 0.5 8.0 5.5 -12.5 0.1 -21.7 -22.6 11.3 -17.4 44

45 Other loans and advances 0.7 13.9 0.7 -0.4 -5.1 1.3 0.9 0.2 -1.5 0.3 45

46 Commercial mortgages -9.6 4.7 -1.2 10.5 9.8 14.0 21.5 25.9 -3.9 15.0 46

47 Security credit 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 47

48 Trade payables 7.9 8.0 8.9 8.7 4.1 3.8 -1.9 19.1 4.8 16.5 48

 Deferred and unpaid

49 life insurance premiums 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 49

50 Discrepancy -111.7 -144.8 -98.5 -31.7 63.0 331.3 -40.8 164.7 -140.7 -107.1 50

(1) Sector includes farm households. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations.

(2) See table F.10 for derivation of alternative measures of personal saving.

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

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

(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 funds (line 33) and life insurance and pension reserves (lines 35 and 36).

(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.
FFA, 1995-2004, December 11, 2008 9

F.101 Nonfinancial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Income before taxes 967.2 1059.8 1129.6 1137.2 1195.8 1211.9 1149.5 1164.3 1289.7 1623.1 1

 2 Gross saving and net capital transfers 725.4 793.5 855.4 835.3 898.2 905.0 926.4 983.4 1014.0 1128.3 2

 3 Gross investment 780.1 828.4 876.3 885.7 1013.4 1087.4 1056.4 954.5 1001.9 1199.6 3

 4 Capital expenditures 769.0 809.6 890.9 936.2 1073.8 1170.3 1023.0 945.8 971.6 1062.8 4

 5 Fixed investment 737.3 781.1 817.0 867.4 1014.6 1122.3 1063.3 944.9 968.1 1014.8 5

 6 Residential 45.2 48.8 44.5 44.4 63.3 69.5 66.9 71.7 80.0 93.5 6

 7 Nonresidential 692.1 732.3 772.5 823.0 951.3 1052.9 996.4 873.2 888.1 921.3 7

 8 Change in inventories 31.1 30.8 72.0 70.8 66.9 56.5 -31.7 11.9 14.3 58.6 8

 9 Nonproduced nonfinancial assets 0.6 -2.3 1.9 -1.9 -7.7 -8.5 -8.6 -10.9 -10.8 -10.6 9

10 Net financial investment 11.1 18.8 -14.6 -50.5 -60.3 -82.9 33.3 8.7 30.3 136.8 10

11 Net acquisition of financial assets 503.0 549.0 403.7 793.4 1155.5 1456.5 335.4 209.9 180.1 1083.5 11

12 Foreign deposits 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 12

13 Checkable deposits and currency 18.1 28.5 15.0 -5.5 41.3 24.1 -63.4 -37.8 56.3 74.8 13

14 Time and savings deposits 7.6 33.5 45.4 69.0 97.3 103.5 15.9 24.6 116.1 41.8 14

15 Money market fund shares 24.8 9.9 23.9 48.3 36.6 45.2 120.1 36.2 -34.4 30.9 15

16 Security RPs 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 16

17 Credit market instruments -4.9 -6.2 -4.6 -4.0 -27.4 28.5 2.4 25.1 -1.7 42.6 17

18 Commercial paper 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 18

19 Treasury securities 11.6 -5.1 -16.6 2.5 -5.0 1.7 1.4 14.5 3.5 5.6 19

20 Agency- and GSE-backed securities 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -4.8 0.1 20

21 Municipal securities -19.3 -5.4 -3.1 -2.0 -0.9 6.7 -1.5 2.7 2.6 -1.9 21

22 Mortgages -0.5 -4.9 24.3 -5.4 -28.2 1.7 6.5 2.3 2.3 19.4 22

23 Consumer credit -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.6 -16.2 0.1 23

24 Mutual fund shares 4.6 8.7 -6.4 6.7 7.4 3.5 4.4 0.9 11.0 1.4 24

25 Trade receivables 93.3 117.6 123.1 115.5 248.6 351.2 -119.5 -79.4 -42.4 155.5 25

26 Miscellaneous assets 357.5 344.7 211.7 556.5 749.2 909.4 384.2 233.0 57.7 720.3 26

27 Net increase in liabilities 491.9 530.2 418.4 843.9 1215.9 1539.4 302.1 201.1 149.7 946.7 27

28 Credit market instruments 285.3 273.0 438.8 566.6 582.0 560.3 380.6 179.8 177.2 455.2 28

29 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 29

30 Municipal securities 3.1 3.1 4.2 5.8 5.1 1.4 3.5 3.1 3.5 5.1 30

31 Corporate bonds 104.2 128.0 181.1 214.9 225.9 164.0 343.4 133.4 152.2 75.5 31

32 Bank loans n.e.c. 86.3 69.9 98.4 102.1 89.8 95.0 -65.5 -84.0 -88.3 28.2 32

33 Other loans and advances 35.9 21.4 57.5 69.5 42.2 94.9 4.6 26.8 11.6 57.4 33

34 Mortgages 37.7 51.6 83.9 150.0 181.8 156.9 177.7 158.5 135.6 273.6 34

35 Corporate equities -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -41.4 -41.1 -124.4 35

36 Trade payables 94.9 81.5 97.2 88.0 213.0 354.1 -108.4 45.1 -80.9 121.2 36

37 Taxes payable 0.5 11.9 13.6 9.0 15.9 18.6 7.1 13.4 -12.2 15.1 37

38 Miscellaneous liabilities 144.0 216.6 9.0 478.3 602.8 759.4 86.6 90.6 56.8 494.3 38

39 Proprietors’ net investment 25.4 -5.5 -62.9 -82.3 -87.5 -34.9 -15.7 -86.5 49.9 -14.7 39

40 Discrepancy -54.7 -34.9 -20.8 -50.4 -115.2 -182.4 -130.0 28.9 12.1 -71.3 40

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
10 FFA, 1995-2004, December 11, 2008

F.102 Nonfarm Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Profits before tax (book) 418.7 457.2 492.6 449.1 456.7 421.9 309.9 336.4 424.3 660.1 1

 2 - Taxes on corporate income 140.6 152.6 161.4 158.2 170.8 169.7 111.4 96.6 135.1 190.2 2

 3 - Net dividends 176.9 196.5 214.2 239.6 222.7 249.7 243.5 252.7 290.6 364.2 3

 4 + Capital consumption allowance (1) 462.8 494.2 528.0 557.5 597.7 629.3 677.5 733.9 733.4 745.0 4

 5 = U.S. internal funds, book 564.0 602.3 645.0 608.8 660.8 631.8 632.5 720.9 732.0 850.7 5

 6 + Foreign earnings retained abroad 52.7 54.1 52.8 53.0 69.2 100.2 111.2 92.6 112.7 120.9 6

 7 + Inventory valuation adjustment (IVA) -18.3 3.1 14.1 20.2 1.0 -14.1 11.3 -2.2 -13.6 -43.1 7

 8 + Net capital transfers (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 8

 9 = Total internal funds + IVA 598.4 659.5 711.9 682.1 731.0 718.0 755.0 811.3 831.3 928.5 9

10 Gross investment 653.1 694.4 732.7 732.4 846.2 900.3 885.0 782.4 819.1 999.8 10

11 Capital expenditures 617.6 638.9 743.8 778.5 863.9 928.5 802.6 737.1 749.9 825.7 11

12 Fixed investment (3) 576.9 620.1 676.6 714.5 805.6 882.1 841.2 734.4 747.5 788.3 12

13 Inventory change + IVA 40.1 21.0 65.3 65.9 66.1 54.9 -30.1 13.6 13.2 48.0 13

14 Nonproduced nonfinancial assets 0.6 -2.3 1.9 -1.9 -7.7 -8.5 -8.6 -10.9 -10.8 -10.6 14

15 Net financial investment 35.5 55.5 -11.1 -46.1 -17.7 -28.2 82.4 45.2 69.2 174.1 15

16 Net acquisition of financial assets 426.4 454.0 272.4 569.9 969.9 1209.2 177.6 130.1 82.6 783.1 16

17 Foreign deposits 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 17

18 Checkable deposits and currency 4.5 9.3 -7.4 -12.0 36.0 15.5 -64.5 -40.9 49.9 -12.5 18

19 Time and savings deposits 3.3 30.0 34.7 28.2 44.3 35.5 8.8 10.2 71.5 37.7 19

20 Money market fund shares 22.9 7.7 20.2 38.6 28.4 36.5 110.5 33.8 -36.7 25.3 20

21 Security RPs 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 21

22 Credit market instruments -8.8 -10.2 -7.2 -17.0 -24.2 26.5 -4.7 25.8 -3.2 31.1 22

23 Commercial paper 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 23

24 Treasury securities 6.3 -10.0 -20.2 -3.2 -4.2 -1.3 -1.3 14.5 1.4 0.3 24

25 Agency- and GSE-backed securities 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -4.8 0.1 25

26 Municipal securities -19.9 -5.8 -3.6 -1.6 -0.7 6.9 -2.6 2.8 3.3 -3.6 26

27 Mortgages 1.6 -3.6 25.9 -13.0 -26.0 2.3 3.1 2.9 2.2 14.8 27

28 Consumer credit -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.6 -16.2 0.1 28

29 Mutual fund shares 4.6 8.7 -6.4 6.7 7.4 3.5 4.4 0.9 11.0 1.4 29

30 Trade receivables 78.0 88.1 88.0 87.3 209.2 281.6 -121.3 -98.3 -17.2 128.9 30

31 Miscellaneous assets 319.9 308.2 154.9 431.0 666.3 819.1 253.2 191.3 -10.0 555.2 31

32 U.S. direct investment abroad (4) 90.3 76.8 84.3 129.2 194.4 128.4 119.4 129.7 122.6 270.2 32

33 Insurance receivables 8.2 2.6 1.9 1.7 1.0 -0.3 10.3 17.4 18.4 18.9 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 34

35 Investment in finance co. subs. 4.6 1.8 -3.7 -22.4 26.8 121.3 15.2 24.7 14.0 -9.6 35

36 Other 216.7 227.1 72.5 322.5 444.1 569.7 108.3 19.5 -165.0 275.6 36

37 Net increase in liabilities 390.8 398.5 283.5 616.0 987.6 1237.4 95.2 84.9 13.4 609.0 37

38 Net funds raised in markets 179.4 152.6 256.5 167.5 273.2 243.7 164.6 -18.5 46.2 79.5 38

39 Net new equity issues -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -41.4 -41.1 -124.4 39

40 Credit market instruments 237.7 199.9 333.9 383.1 383.6 361.9 212.7 22.9 87.3 204.0 40

41 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 41

42 Municipal securities (5) 3.1 3.1 4.2 5.8 5.1 1.4 3.5 3.1 3.5 5.1 42

43 Corporate bonds (4) 104.2 128.0 181.1 214.9 225.9 164.0 343.4 133.4 152.2 75.5 43

44 Bank loans n.e.c. 74.5 40.4 51.1 76.2 40.0 43.8 -109.6 -108.2 -99.2 -1.2 44

45 Other loans and advances (6) 29.6 18.6 51.6 60.7 32.7 82.7 5.7 21.9 6.8 55.1 45

46 Mortgages 8.2 10.7 32.2 1.2 42.6 21.9 52.7 30.6 61.3 54.1 46

47 Trade payables 81.0 49.5 65.1 57.6 178.5 313.3 -103.7 19.7 -54.7 97.3 47

48 Taxes payable -0.0 9.6 9.3 4.8 7.0 7.0 3.1 11.9 -11.7 6.8 48

49 Miscellaneous liabilities 130.5 186.9 -47.5 386.0 528.9 673.4 31.3 71.7 33.6 425.5 49

50 Foreign direct investment in U.S. 53.4 70.2 99.2 143.5 179.0 192.4 84.5 27.5 23.9 28.6 50

51 Pension fund contributions payable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 51

52 Other 71.7 111.2 -155.0 229.6 368.3 500.1 -28.7 42.7 9.8 400.0 52

53 Discrepancy -54.7 -34.9 -20.8 -50.4 -115.2 -182.4 -130.0 28.9 12.1 -71.3 53

 Memo:

54 Financing gap (7) 71.8 33.5 84.7 149.5 202.2 310.8 158.7 18.4 31.5 18.1 54

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

(2) Table F.9, line 7.

(3) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 10 and 16 respectively.

(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

(5) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

(6) 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).
FFA, 1995-2004, December 11, 2008 11

F.103 Nonfarm Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net income with IVA and CCAdj 525.8 565.3 602.8 658.8 710.6 767.3 820.0 817.4 836.2 925.7 1

 2 Gross saving = capital consumption 110.1 116.2 126.0 136.3 149.8 168.7 149.3 151.5 161.4 176.7 2

 3 Gross investment 110.1 116.2 126.0 136.3 149.8 168.7 149.3 151.5 161.4 176.7 3

 4 Capital expenditures 140.9 138.9 117.4 129.9 190.0 218.2 193.9 182.5 192.9 197.5 4

 5 Fixed investment (1) 138.8 137.8 114.0 126.4 186.5 215.3 195.5 181.7 192.2 195.0 5

 6 Change in inventories 2.1 1.1 3.4 3.5 3.5 2.9 -1.6 0.7 0.7 2.5 6

 7 Net financial investment -30.7 -22.7 8.6 6.4 -40.2 -49.5 -44.6 -31.0 -31.5 -20.9 7

 8 Net acquisition of financial assets 75.2 95.1 130.7 218.5 183.8 246.8 155.9 78.2 95.5 297.3 8

 9 Checkable deposits and currency 13.2 19.3 22.2 4.7 4.7 8.4 0.5 2.6 5.8 86.3 9

10 Time and savings deposits 4.3 3.5 10.7 40.7 53.1 68.1 7.1 14.5 44.7 4.1 10

11 Money market mutual funds 1.9 2.2 3.7 9.7 8.1 8.7 9.6 2.3 2.3 5.6 11

12 Treasury securities 5.3 4.9 3.7 5.7 -0.8 3.0 2.7 0.0 2.1 5.3 12

13 Municipal securities 0.6 0.4 0.5 -0.4 -0.1 -0.3 1.1 -0.1 -0.7 1.7 13

14 Mortgages -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 14

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

16 Trade receivables 15.3 29.5 35.1 28.2 39.4 69.6 1.8 18.9 -25.1 26.6 16

17 Miscellaneous assets 36.7 36.6 56.4 122.2 81.7 89.9 129.9 40.7 66.3 163.2 17

18 Insurance receivables 2.0 0.6 0.5 0.4 0.2 -0.1 2.5 4.2 4.4 3.5 18

19 Equity investment in GSEs (2) 0.0 0.7 0.0 -0.1 0.0 0.0 0.1 0.0 0.3 -0.1 19

20 Other 34.7 35.2 55.9 121.9 81.4 90.0 127.3 36.5 61.6 159.7 20

21 Net increase in liabilities 105.9 117.8 122.1 212.0 224.1 296.3 200.5 109.1 127.0 318.2 21

22 Credit market instruments 45.1 69.0 97.7 175.5 195.2 196.4 161.5 149.8 91.6 245.2 22

23 Bank loans n.e.c. 10.7 28.9 43.8 24.8 50.7 48.5 44.0 25.1 11.3 27.2 23

24 Other loans and advances 6.6 1.9 6.2 6.5 9.4 10.4 -3.8 3.7 4.7 1.2 24

25 Mortgages 27.8 38.2 47.7 144.2 135.1 137.5 121.2 121.0 75.5 216.7 25

26 Trade payables 12.4 30.6 31.0 30.8 34.7 46.6 -4.9 26.0 -25.7 22.2 26

27 Taxes payable 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 27

28 Miscellaneous liabilities 13.5 29.7 56.5 92.3 73.9 86.0 55.3 18.9 23.2 68.8 28

29 Proprietors’ net investment 34.3 -13.8 -67.4 -90.6 -88.7 -44.4 -15.3 -87.0 38.5 -26.3 29

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

(2) Equity in the Farm Credit System.

F.104 Farm Business (1)

Billions of dollars

 1 Proprietors’ net income with IVA and CCAdj 22.7 37.3 34.2 29.4 28.6 22.7 19.7 10.6 29.2 37.3 1

 2 Net saving (corporate) 0.2 1.0 0.6 -0.5 0.0 1.1 -1.0 -1.8 -1.5 -1.3 2

 3 Consumption of fixed capital 16.6 16.8 17.0 17.4 17.4 17.2 23.0 22.5 22.9 24.4 3

 4 Corporate 2.5 2.8 3.1 3.4 3.7 3.9 4.0 4.2 4.4 4.8 4

 5 Noncorporate 14.1 14.0 13.9 13.9 13.7 13.4 19.0 18.3 18.5 19.6 5

 6 Gross saving 16.9 17.8 17.6 16.9 17.4 18.3 22.1 20.7 21.4 23.1 6

 7 Gross investment 16.9 17.8 17.6 16.9 17.4 18.3 22.1 20.7 21.4 23.1 7

 8 Capital expenditures 10.5 31.8 29.7 27.8 19.8 23.5 26.6 26.2 28.8 39.5 8

 9 Fixed investment (2) 21.6 23.1 26.5 26.4 22.5 24.9 26.6 28.7 28.4 31.5 9

10 Change in inventories -11.1 8.6 3.2 1.4 -2.7 -1.3 -0.0 -2.5 0.4 8.0 10

11 Net financial investment 6.3 -14.0 -12.2 -10.9 -2.4 -5.2 -4.5 -5.5 -7.4 -16.4 11

12 Net acquisition of financial assets 1.5 -0.1 0.7 5.1 1.8 0.5 1.8 1.6 2.0 3.1 12

13 Checkable deposits and currency 0.5 -0.0 0.2 1.7 0.6 0.2 0.6 0.5 0.7 1.0 13

14 Miscellaneous assets 1.0 -0.1 0.4 3.4 1.2 0.4 1.2 1.0 1.3 2.0 14

15 Insurance receivables 1.1 0.6 0.4 3.2 1.2 0.3 0.8 0.9 0.9 1.8 15

16 Equity investment in GSEs (3) -0.1 -0.6 0.0 0.1 -0.0 0.0 0.4 0.1 0.4 0.2 16

17 Net increase in liabilities -4.8 13.9 12.8 16.0 4.2 5.8 6.3 7.1 9.4 19.5 17

18 Credit market instruments 2.5 4.2 7.3 8.1 3.3 2.0 6.4 7.1 -1.6 6.0 18

19 Bank loans n.e.c. 1.1 0.6 3.5 1.2 -0.9 2.7 -0.0 -0.9 -0.4 2.2 19

20 Other loans and advances -0.3 0.8 -0.4 2.3 0.1 1.8 2.6 1.2 0.1 1.1 20

21 Mortgages 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -1.3 2.7 21

22 Trade payables 1.5 1.4 1.1 -0.4 -0.2 -5.8 0.3 -0.5 -0.4 1.8 22

23 Proprietors’ net investment -8.9 8.3 4.5 8.2 1.1 9.5 -0.4 0.5 11.5 11.6 23

(1) Corporate and noncorporate farms.

(2) Nonresidential fixed investment, shown in table F.6, line 12.

(3) Equity in the Farm Credit System.
12 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 990.2 1043.3 1097.4 1163.2 1236.7 1319.5 1373.0 1410.1 1494.2 1594.3 1

 2 Personal current taxes 158.1 168.7 182.0 201.2 214.5 236.6 242.7 221.3 226.6 249.0 2

 3 Taxes on production and imports 482.4 507.9 533.8 558.8 590.2 621.1 642.8 675.5 717.5 769.2 3

 4 Taxes on corporate income 31.7 33.0 34.1 34.9 35.8 35.5 30.2 32.2 35.3 43.0 4

 5 Contributions for govt. social insurance 13.6 12.5 10.8 10.4 9.8 11.0 13.6 15.8 19.8 23.6 5

 6 Income receipts on assets 68.4 73.3 77.8 80.9 85.3 92.2 88.8 78.2 72.9 75.4 6

 7 Current transfer receipts 224.1 234.1 246.6 266.8 290.8 315.4 350.8 384.7 422.7 437.2 7

 8 Current surplus of government enterprises 12.0 13.9 12.3 10.2 10.4 7.7 4.0 2.5 -0.6 -3.0 8

 9 Current expenditures, NIPA basis 978.2 1017.5 1058.3 1111.2 1186.3 1269.5 1368.2 1444.3 1514.5 1592.8 9

10 Consumption expenditures 696.0 724.8 758.9 801.4 858.9 917.8 969.8 1025.3 1073.8 1120.3 10

11 Govt. social benefit payments to persons 217.6 224.3 227.6 235.8 252.4 271.7 305.2 332.0 353.0 383.8 11

12 Interest payments 64.2 68.1 71.4 73.6 74.6 79.5 85.5 86.0 87.7 88.4 12

13 Subsidies 0.3 0.3 0.4 0.4 0.4 0.5 7.7 0.9 0.1 0.4 13

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

15 Net state and local govt. saving, NIPA basis 12.0 25.8 39.1 52.0 50.4 50.0 4.8 -34.2 -20.4 1.5 15

16 + Consumption of fixed capital 83.1 87.2 91.6 96.2 102.1 109.8 117.8 122.7 127.8 136.1 16

17 + Net capital transfers (2) 32.4 33.9 35.3 36.0 39.9 43.7 48.6 52.1 51.6 52.1 17

18 = Gross saving and net capital transfers 127.5 146.9 166.0 184.2 192.4 203.5 171.1 140.7 159.0 189.7 18

19 Gross investment 194.5 200.3 212.7 268.3 252.1 267.7 218.6 171.0 202.9 248.4 19

20 Fixed investment 154.0 163.8 178.9 186.5 206.0 225.0 243.0 256.1 262.2 270.9 20

21 Nonproduced nonfinancial assets 6.6 6.1 5.8 7.5 8.6 8.8 9.2 10.6 10.9 10.5 21

22 Net financial investment 33.9 30.5 28.0 74.3 37.5 33.9 -33.7 -95.8 -70.2 -33.0 22

23 Net acq. of financial assets -9.7 28.0 98.2 161.8 97.6 75.7 98.7 76.6 79.1 112.8 23

24 Checkable deposits and currency 3.4 -5.5 4.4 -3.9 3.9 0.1 4.0 5.2 7.0 -6.2 24

25 Time and savings deposits 6.6 10.6 5.8 14.8 14.0 10.6 12.0 8.8 20.3 11.6 25

26 Money market fund shares 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.0 3.9 26

27 Security RPs -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 7.9 7.7 27

28 Credit market instruments -91.4 -33.7 0.1 109.7 101.9 70.7 93.9 86.2 58.3 72.4 28

29 Open market paper 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 10.3 10.1 29

30 Treasury securities -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 9.5 24.9 30

31 Agency- and GSE-backed securities -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 22.5 21.9 31

32 Municipal securities -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.3 0.3 32

33 Corporate and foreign bonds 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 7.1 6.9 33

34 Mortgages 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 8.5 8.3 34

35 Corporate equities 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -17.0 -4.2 35

36 Mutual fund shares -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -5.2 -1.3 36

37 Trade receivables 6.1 5.6 6.3 7.0 8.7 4.9 6.0 2.6 8.1 7.9 37

38 Taxes receivable -9.1 -4.6 0.3 2.8 10.5 14.8 3.7 4.8 7.7 26.1 38

39 Miscellaneous assets 64.3 8.4 75.5 18.2 -13.6 -25.2 -17.7 -28.5 -12.0 -5.2 39

40 Net increase in liabilities -43.6 -2.4 70.3 87.5 60.1 41.8 132.4 172.4 149.2 145.8 40

41 Credit market instruments -60.8 -20.5 50.8 66.8 37.3 16.9 105.5 144.1 120.1 115.4 41

42 Municipal securities -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.4 120.0 115.1 42

43 Short-term 1.2 6.3 8.3 -6.3 2.6 1.4 23.8 25.2 10.4 -5.9 43

44 Other -62.1 -22.0 37.3 72.9 36.3 15.1 81.6 118.2 109.6 121.0 44

45 U.S. government loans 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 45

46 Trade payables 17.2 18.1 19.5 20.7 22.8 25.0 26.9 28.4 29.2 30.4 46

47 Discrepancy -66.9 -53.4 -46.7 -84.2 -59.8 -64.3 -47.4 -30.3 -43.9 -58.7 47

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

(2) Table F.9, line 8.
FFA, 1995-2004, December 11, 2008 13

F.106 Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 1406.5 1524.0 1653.1 1773.8 1891.2 2053.8 2016.2 1853.2 1879.9 2008.9 1

 2 Personal current taxes 586.0 663.4 744.3 825.8 893.0 999.1 994.5 830.5 774.5 797.4 2

 3 Taxes on production and imports 75.9 73.2 78.2 81.1 83.9 87.8 85.8 87.3 89.7 94.6 3

 4 Taxes on corporate income 179.3 190.6 203.0 204.2 213.0 219.4 164.7 150.5 197.8 250.3 4

 5 Taxes from the rest of the world 3.9 5.2 5.1 5.7 5.9 7.3 7.1 7.3 8.9 10.0 5

 6 Contributions for govt. social insurance 519.2 542.8 576.4 613.8 651.6 691.7 717.5 734.3 758.9 805.2 6

 7 Income receipts on assets 23.7 26.9 25.9 21.5 21.5 25.2 24.9 20.2 22.9 23.8 7

 8 Current transfer receipts 19.1 23.1 19.9 21.5 22.7 25.7 27.1 24.8 25.0 28.8 8

 9 Current surplus of government enterprises -0.6 -1.2 0.3 0.1 -0.3 -2.3 -5.5 -1.6 2.3 -1.2 9

10 Current expenditures, NIPA basis 1603.5 1665.8 1708.9 1734.9 1787.6 1864.4 1969.5 2101.1 2252.1 2379.5 10

11 Consumption expenditures 440.5 446.3 457.7 454.6 475.1 499.3 531.9 591.5 662.7 723.7 11

12 Government social benefits 642.7 680.0 706.3 719.2 738.0 772.5 841.4 919.6 966.5 1015.3 12

13 Other current transfer payments 196.3 208.2 212.5 227.4 248.0 265.6 290.0 323.4 362.2 375.2 13

14 Interest payments 290.4 297.3 300.0 298.8 282.7 283.3 258.6 229.1 212.9 221.0 14

15 Subsidies 33.7 34.0 32.4 35.0 43.8 43.8 47.6 37.5 47.8 44.2 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 16

17 Net federal government saving, NIPA basis -197.0 -141.8 -55.8 38.8 103.6 189.5 46.7 -247.9 -372.1 -370.6 17

18 + Consumption of fixed capital 81.9 82.0 82.5 82.8 84.8 87.2 88.2 88.9 90.4 94.0 18

19 - Insurance and pension reserves (1) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 19

20 + Net capital transfers (2) -12.8 -10.7 -8.5 -3.6 -7.4 -8.1 -12.9 -23.1 -40.4 -38.4 20

21 = Gross saving and net capital transfers -131.5 -73.9 14.8 113.6 177.3 266.8 118.8 -180.5 -321.5 -315.1 21

22 Gross investment -126.8 -113.1 4.7 80.1 183.3 273.6 80.0 -195.4 -382.9 -334.2 22

23 Fixed investment 78.8 81.1 73.2 75.8 80.7 79.5 81.0 88.1 93.7 101.9 23

24 Nonproduced nonfinancial assets -7.4 -3.8 -7.6 -5.6 -0.9 -0.3 -0.7 0.3 -0.2 0.0 24

25 Net financial investment -198.1 -190.4 -60.9 9.9 103.5 194.4 -0.3 -283.8 -476.4 -436.1 25

26 Net acq. of financial assets -29.2 7.7 -4.3 -14.7 69.4 -74.3 53.1 5.8 34.0 1.9 26

27 Gold, SDRs, and official foreign exchange 6.4 -2.9 2.5 6.0 -7.1 -0.6 4.6 3.4 -1.8 -3.1 27

28 Checkable deposits and currency -0.0 11.0 -0.5 -16.7 66.2 -65.1 41.1 -17.1 9.3 -31.0 28

29 Time and savings deposits 0.3 1.4 1.0 1.3 0.7 1.0 4.2 17.1 -25.2 -0.0 29

30 Credit market instruments -24.7 3.9 11.3 5.6 4.3 8.1 3.9 8.0 -2.6 2.3 30

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

32 Other loans and advances -13.5 2.6 5.9 -2.4 -7.0 -2.8 -7.8 -0.5 -2.0 -3.0 32

33 Mortgages -13.5 -7.2 -4.5 -0.8 -0.1 -0.9 -1.1 0.5 -2.5 1.6 33

34 Consumer credit (3) 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 34

35 Trade receivables -1.6 0.9 -3.2 1.5 4.6 5.3 7.3 -3.3 19.1 10.5 35

36 Taxes receivable -7.5 0.0 -10.0 -8.9 1.7 -21.5 -9.3 -2.3 33.9 22.6 36

37 Miscellaneous assets -2.1 -6.7 -5.4 -3.5 -0.9 -1.4 1.3 0.0 1.4 0.6 37

38 Net increase in liabilities 169.0 198.1 56.5 -24.6 -34.0 -268.7 53.4 289.7 510.4 438.0 38

39 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 39

40 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 40

41 Credit market instruments 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 41

42 Savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 42

43 Other Treasury securities 137.9 144.5 23.7 -54.7 -70.8 -293.2 -10.7 252.5 389.5 361.9 43

44 Budget agency securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 44

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

46 Trade payables -4.6 0.7 -8.8 -8.0 -0.4 4.4 3.4 0.8 72.4 15.1 46

47 Insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 47

48 Miscellaneous liabilities (4) 25.3 51.8 40.6 34.1 38.2 22.9 53.0 28.7 40.3 59.2 48

49 Nonmarketable securities held by pension plans 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 49

50 Other 4.5 -3.3 0.3 -7.1 -2.9 2.0 -7.8 4.2 15.6 18.3 50

51 Discrepancy -4.7 39.2 10.1 33.5 -6.0 -6.8 38.8 15.0 61.4 19.2 51

 Memo:

52 Change in cash balance (5) -5.7 12.9 -2.2 -12.8 59.4 -55.1 5.2 -1.6 -24.8 -3.1 52

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

(2) Table F.9, line 2.

(3) Student loans.

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

 retirement fund, and foreign service retirement and disability fund.

(5) Time and savings deposits (line 29) plus checkable deposit and currency liabilities of the monetary authority and commercial banking sectors (table F.204, lines 3 and 7).
14 FFA, 1995-2004, December 11, 2008

F.107 Rest of the World

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Foreign income from U.S. 1137.1 1217.6 1352.2 1430.5 1585.9 1875.6 1725.6 1769.9 1889.8 2244.0 1

 2 U.S. imports 903.6 964.8 1056.9 1115.9 1251.7 1475.8 1399.8 1430.3 1540.2 1797.8 2

 3 U.S. income payments to rest of world 198.1 213.7 253.7 265.8 287.0 343.7 278.8 275.0 280.0 361.3 3

 4 Current taxes and trans. payments to rest of world 35.4 39.1 41.6 48.8 47.2 56.1 47.0 64.5 69.7 84.9 4

 5 Foreign outlays to U.S. 1046.1 1117.3 1242.0 1243.1 1312.0 1478.9 1355.2 1311.6 1377.6 1619.9 5

 6 U.S. exports 812.2 868.6 955.3 955.9 991.2 1096.3 1032.8 1005.9 1040.8 1182.4 6

 7 U.S. income receipts from rest of world 233.9 248.7 286.7 287.1 320.8 382.7 322.4 305.7 336.8 437.5 7

 8 Net capital transfers (1) 1.1 0.6 1.0 0.8 4.9 0.8 1.1 1.4 3.4 2.4 8

 9 Gross saving and net capital transfers (2) 92.1 101.0 111.2 188.2 278.7 397.5 371.5 459.7 515.6 626.5 9

10 Gross investment 82.1 133.7 217.9 66.2 233.2 476.7 399.0 499.1 529.6 530.0 10

11 Nonproduced nonfinancial assets 0.2 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.2 0.0 11

12 Net financial investment 81.9 133.7 218.0 66.2 233.2 476.7 399.0 499.0 529.4 530.0 12

13 Net acquisition of financial assets 415.7 518.6 595.0 390.6 710.5 954.3 657.7 768.6 817.1 1404.0 13

14 Gold and SDRs (3) -0.8 0.4 -0.4 -0.1 0.0 -0.7 -0.6 -0.5 0.6 -0.4 14

15 Net interbank assets 11.1 -52.0 -4.3 -27.1 -5.7 20.8 -45.6 4.2 -10.1 8.8 15

16 U.S. checkable deposits and currency 9.9 16.7 27.5 10.5 24.3 -1.2 18.8 18.3 14.6 22.4 16

17 U.S. time deposits -6.6 10.9 13.1 51.9 3.0 -17.3 0.6 41.2 5.2 34.1 17

18 Money market fund shares 0.8 0.8 0.8 0.8 0.8 3.1 3.9 1.1 2.6 4.1 18

19 Security RPs 21.0 3.2 20.0 -18.8 8.0 11.4 59.7 39.1 270.1 204.9 19

20 Credit market instruments 246.8 379.6 259.6 168.5 146.4 242.2 299.2 467.2 582.8 854.4 20

21 Open market paper 18.6 14.4 19.9 33.6 -6.4 9.3 -5.9 18.1 66.2 37.0 21

22 Treasury securities 160.5 262.7 123.7 18.7 -32.3 -75.2 19.3 160.9 276.4 366.9 22

23 Official 69.0 115.7 -6.7 -9.9 12.2 -5.2 33.7 60.5 184.9 273.3 23

24 Private 91.5 147.0 130.4 28.6 -44.5 -70.0 -14.4 100.4 91.5 93.6 24

25 Agency- and GSE-backed securities 17.6 26.8 30.3 11.1 63.4 141.9 92.0 127.1 12.3 178.2 25

26 Official 3.7 5.0 4.5 6.3 20.4 40.9 12.2 41.6 46.8 93.5 26

27 Private 13.9 21.8 25.8 4.7 43.1 101.0 79.9 85.5 -34.5 84.7 27

28 Municipal securities 1.0 1.0 1.0 1.0 1.0 0.2 0.0 3.5 8.0 6.5 28

29 U.S. corporate bonds (4) 49.2 70.8 67.4 105.2 143.4 168.2 195.4 147.5 220.8 259.5 29

30 Loans to U.S. corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 30

31 U.S. corporate equities 3.5 -3.5 53.2 27.4 104.5 199.7 134.3 54.4 5.2 25.0 31

32 Mutual fund shares 12.3 13.8 13.1 13.8 7.1 -9.2 -16.7 -1.5 26.2 32.7 32

33 Trade receivables 0.7 5.5 0.9 -6.5 -5.1 -0.4 -3.1 2.6 1.3 -1.1 33

34 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Miscellaneous assets 117.0 143.2 211.6 170.3 427.4 505.9 207.2 142.4 -81.3 219.0 35

36 Foreign direct investment in U.S. (5) 57.8 86.5 105.6 179.0 289.4 321.3 167.0 84.4 63.8 146.0 36

37 Other 59.2 56.7 106.0 -8.7 137.9 184.6 40.2 58.1 -145.0 73.1 37

38 Net increase in liabilities 333.8 384.9 377.0 324.4 477.3 477.6 258.7 269.5 287.7 874.0 38

 U.S. official foreign exchange

39 and net IMF position 8.8 -6.3 0.7 6.6 -8.7 -0.4 4.3 3.2 -0.9 -3.2 39

40 U.S. private deposits 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 36.0 89.9 40

41 Credit market instruments 78.3 88.0 69.9 37.2 19.0 63.0 -11.2 93.4 42.4 154.7 41

42 Commercial paper 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.3 68.7 42

43 Bonds 56.9 66.6 59.6 28.8 7.9 21.2 -18.5 31.6 28.7 85.8 43

44 Bank loans n.e.c. 8.5 9.1 8.5 6.6 0.5 11.4 -7.3 5.3 -2.5 3.8 44

45 Official 0.4 0.3 -0.8 0.7 0.2 0.6 0.8 0.8 -0.6 1.0 45

46 Banks 2.1 3.4 -0.5 -0.7 -3.2 3.4 -7.4 -0.8 3.8 4.5 46

47 Other 5.9 5.4 9.8 6.6 3.5 7.4 -0.7 5.3 -5.7 -1.7 47

48 U.S. government loans -0.8 -0.7 -1.6 -1.0 -4.8 -0.6 -1.1 -1.9 -2.1 -3.7 48

49 Acceptance liabilities to banks 0.3 1.8 -0.2 -5.0 -0.9 -0.7 -2.6 -0.4 0.0 0.1 49

50 Foreign corporate equities (6) 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 50

51 Trade payables 5.8 -1.7 5.2 -3.9 4.2 0.8 -7.7 -4.9 6.1 3.5 51

52 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

53 Miscellaneous liabilities 140.2 136.0 135.9 174.0 299.7 180.7 157.4 139.9 86.2 544.3 53

54 U.S. equity in IBRD, etc. 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 54

55 Nonofficial foreign currencies 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.2 -0.0 55

56 U.S. direct investment abroad (4,5) 98.8 91.9 104.8 142.6 224.9 159.2 142.3 154.5 149.6 316.2 56

57 Other 39.7 42.4 29.6 29.9 72.7 19.9 13.4 -16.2 -65.0 226.2 57

58 Discrepancy (FOF basis) (7) 10.0 -32.7 -106.7 121.9 45.5 -79.3 -27.5 -39.4 -13.9 96.5 58

 Memo:

59 Net U.S. exports, NIPA basis -91.4 -96.2 -101.6 -159.9 -260.5 -379.5 -367.0 -424.4 -499.4 -615.4 59

60 + Net U.S. income receipts (8) 35.8 35.0 32.9 21.3 33.8 38.9 43.6 30.6 56.8 76.2 60

61 - Current taxes and trans. payments to rest of world 35.4 39.1 41.6 48.8 47.2 56.1 47.0 64.5 69.7 84.9 61

62 = Balance on current account, NIPAs -91.0 -100.3 -110.2 -187.4 -273.9 -396.6 -370.4 -458.3 -512.3 -624.1 62

(1) Table F.9, line 11.

(2) Line 1 minus line 5 plus line 8; equals net lending or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 62 with the sign reversed plus line 8.

(3) U.S. net sales, sign reversed.

(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Balance of payments discrepancy adjusted to NIPA concepts.

(8) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
FFA, 1995-2004, December 11, 2008 15

F.108 Monetary Authority (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving -0.6 2.5 3.7 -0.7 1.7 6.5 2.3 0.3 -0.8 3.2 1

 2 Fixed nonresidential investment 1.6 1.7 1.9 2.4 3.4 2.7 2.4 2.1 2.1 2.6 2

 3 Net acquisition of financial assets 19.8 23.3 38.8 32.9 130.0 -60.9 47.0 70.7 43.2 44.4 3

 4 Gold and foreign exchange 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 4

 5 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 6

 7 Federal Reserve float 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 7

 8 Federal Reserve loans to domestic banks -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 8

 9 Discount window (2) -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 9

10 AMLF (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Security RPs 3.3 7.7 2.3 6.5 110.3 -97.3 6.9 -10.8 4.3 -10.8 11

12 Credit market instruments 12.7 12.3 38.3 21.1 25.7 33.7 39.9 77.7 37.2 51.2 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 13

14 Treasury securities 13.7 12.7 39.8 21.4 25.8 33.7 40.0 77.7 37.3 51.2 14

15 Agency- and GSE-backed securities -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 15

16 Bank loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Brokers and dealers (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Funding corporations (Maiden Lane) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Miscellaneous assets -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 21

22 Nonofficial foreign currencies (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Other -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 23

24 Net increase in liabilities 19.5 22.8 38.1 32.1 129.6 -61.3 46.5 69.6 42.8 41.7 24

25 Depository institution reserves -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 25

26 Vault cash of commercial banks 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 26

27 Checkable deposits and currency 16.9 23.3 29.8 39.0 108.3 -35.1 47.4 41.9 37.4 37.7 27

28 Due to federal government -1.2 1.7 -2.3 0.5 22.3 -22.9 1.5 -2.3 1.3 0.1 28

29 Treasury cash holdings -0.1 -0.0 -0.0 -0.1 0.0 0.3 -0.0 -0.1 -0.0 -0.1 29

30 Treasury general deposit account -1.2 1.8 -2.3 0.6 22.3 -23.3 1.5 -2.2 1.3 0.2 30

31 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Due to rest of the world 0.1 -0.2 0.3 -0.3 -0.1 0.1 -0.2 0.0 0.1 -0.1 32

33 Due to government-sponsored enterprises 0.0 -0.0 0.0 0.7 -0.4 0.1 -0.6 0.4 -0.5 0.6 33

34 Currency outside banks 18.0 21.8 31.9 38.1 86.4 -12.5 46.7 43.7 36.5 37.1 34

35 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 4.6 5.1 35

36 Miscellaneous liabilities 1.4 -0.0 2.1 0.6 -0.9 1.0 -2.3 1.1 0.2 4.2 36

37 Federal Reserve Bank stock 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 37

38 Other 1.1 -0.7 1.3 0.1 -1.4 0.4 -2.7 0.1 -0.3 1.2 38

39 Discrepancy -2.4 0.3 1.1 -3.8 -2.1 3.4 -0.6 -2.8 -3.4 -2.3 39

(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.

(4) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility and AMLF.

(5) 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.

(6) Reciprocal currency arrangements (swap lines) with foreign central banks.
16 FFA, 1995-2004, December 11, 2008

F.109 Commercial Banking (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 40.2 30.0 40.7 37.6 45.3 62.9 81.7 93.3 86.3 67.4 1

 2 Fixed nonresidential investment 13.2 16.9 20.6 23.6 23.6 22.3 22.0 18.9 19.0 22.3 2

 3 Net acquisition of financial assets 335.8 216.5 457.3 419.1 348.8 472.4 350.2 476.6 495.2 762.2 3

 4 Vault cash 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 4

 5 Reserves at Federal Reserve -1.0 -4.7 6.8 -4.6 -2.0 -5.0 -2.2 4.5 -0.0 1.1 5

 6 Checkable deposits and currency 0.2 -0.2 -0.1 0.6 0.3 -0.5 1.1 -0.3 -0.0 1.0 6

 7 Total bank credit 273.4 189.9 350.0 336.1 301.5 411.9 216.0 408.3 352.3 602.0 7

 8 Open market paper -0.1 0.8 -0.8 -0.2 0.3 0.2 0.0 0.0 0.0 0.0 8

 9 Treasury securities -11.7 -16.9 8.3 -56.0 14.8 -44.4 -21.9 43.2 2.5 -24.5 9

10 Agency- and GSE-backed securities 38.7 28.2 75.5 92.0 36.4 22.3 55.6 140.5 84.2 95.0 10

11 Municipal securities -4.2 0.9 2.4 8.2 5.9 3.4 6.1 1.5 11.0 8.1 11

12 Corporate and foreign bonds 8.0 1.1 26.0 35.7 33.9 56.0 97.0 -3.2 43.4 82.4 12

13 Bank loans n.e.c. 114.7 92.1 128.2 146.5 69.8 113.3 -75.8 -80.2 -58.1 72.7 13

14 Mortgages 77.5 55.2 99.9 91.7 158.4 164.6 129.8 268.5 197.5 339.8 14

15 Consumer credit 43.6 25.1 -12.4 -3.1 -4.2 43.3 17.4 34.1 52.8 34.9 15

16 Security credit 4.6 1.3 21.7 20.3 -18.0 50.4 0.0 2.8 23.0 -5.1 16

17 Corporate equities 2.1 1.8 0.6 1.3 2.0 0.3 0.2 -0.6 2.4 -0.3 17

18 Mutual fund shares 0.3 0.3 0.8 -0.4 2.3 2.5 7.8 1.7 -6.2 -0.9 18

19 Customers’ liab. on acceptances (2) -0.6 1.0 -2.8 -9.3 -3.1 -0.7 -2.9 -0.0 -0.2 -0.4 19

20 Miscellaneous assets 61.4 25.9 103.5 99.1 27.6 89.0 135.3 63.6 142.9 164.8 20

21 Net increase in liabilities 292.2 200.2 470.6 397.4 248.6 543.8 329.1 469.8 447.0 941.0 21

22 Net interbank liabilities 8.8 -51.2 -25.8 -24.3 -4.1 39.1 -29.4 11.9 -15.2 24.9 22

23 To monetary authority 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 23

24 To domestic banks (3) -3.0 -3.4 -19.8 3.8 3.2 17.3 17.2 7.2 -4.3 14.9 24

25 To foreign banks 11.1 -52.0 -4.3 -27.1 -5.7 20.8 -45.6 4.2 -10.1 8.8 25

26 Checkable deposits -45.9 -34.6 -19.8 -33.5 3.4 -85.5 56.5 -57.3 35.7 39.5 26

27 Federal government -4.7 9.7 -0.9 -14.6 36.4 -33.2 -0.4 -16.4 -0.9 -3.2 27

28 Rest of the world 0.9 2.8 4.8 -3.1 -0.0 2.0 -4.8 -0.6 3.9 9.2 28

29 Private domestic -42.1 -47.1 -23.7 -15.8 -33.0 -54.3 61.7 -40.3 32.7 33.6 29

30 Small time and savings deposits 113.9 123.1 148.3 183.7 72.0 211.6 249.4 269.4 231.7 280.6 30

31 Large time deposits 54.8 105.3 107.9 72.1 119.6 92.8 32.7 -2.8 12.8 192.5 31

32 Federal funds and security RPs (net) 21.8 37.6 69.0 39.9 69.8 39.6 -20.8 85.0 38.0 13.1 32

33 Credit market instruments 22.5 13.0 46.1 72.9 67.2 60.0 52.9 49.7 48.5 78.4 33

34 Open market paper -2.2 2.9 3.3 -1.5 6.1 0.6 -8.3 -2.5 -6.3 10.6 34

35 Corporate bonds 18.5 7.8 23.7 27.6 20.4 32.6 37.0 22.0 46.2 59.0 35

36 Other loans and advances 6.2 2.3 19.1 46.9 40.6 26.8 24.2 30.2 8.6 8.8 36

37 Corporate equity issues -8.7 -14.3 -27.7 -11.2 -10.2 -12.5 -8.1 -10.7 -2.1 17.6 37

38 Taxes payable 0.9 1.2 1.4 1.7 1.9 2.1 2.4 2.6 2.9 3.2 38

39 Miscellaneous liabilities 124.0 20.1 171.2 96.3 -70.9 196.5 -6.5 121.9 94.7 291.3 39

40 Discrepancy -16.7 -3.2 33.4 -7.6 -78.5 112.0 38.6 67.5 19.1 224.0 40

 Memo:

41 Credit market funds advanced (4) 265.9 187.5 324.3 305.6 312.2 357.9 205.2 404.4 332.9 608.0 41

42 Consumer leases not included above (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 tangible asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
FFA, 1995-2004, December 11, 2008 17

F.110 U.S.-Chartered Commercial Banks

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 11.5 -8.0 0.2 -0.4 -9.1 11.5 21.5 19.8 13.9 4.3 1

 2 Fixed nonresidential investment 10.5 13.1 15.7 17.6 17.2 15.8 15.0 12.5 12.2 14.1 2

 3 Net acquisition of financial assets 200.6 122.7 290.9 303.5 345.4 329.1 229.7 389.0 410.4 587.8 3

 4 Vault cash and reserves at Federal Reserve 1.6 -0.4 4.9 -5.7 22.0 -26.2 0.6 4.4 0.5 -5.2 4

 5 Total bank credit 194.8 115.2 280.7 329.5 316.6 350.2 209.0 391.9 360.8 581.1 5

 6 Open market paper 0.3 0.3 -0.6 -0.1 -0.1 0.2 0.0 0.0 0.0 0.0 6

 7 Treasury securities -40.4 -34.7 -6.1 -42.0 -2.0 -35.0 -31.4 29.9 7.1 -19.2 7

 8 Agency- and GSE-backed securities 23.4 15.3 60.4 81.7 29.4 18.2 73.7 121.1 85.1 89.7 8

 9 Mortgage pass-through securities 12.9 21.4 31.1 53.8 -17.8 14.1 52.8 84.3 56.6 90.3 9

10 CMOs and other structured MBS -18.4 -11.5 17.5 8.9 5.0 -9.8 57.2 -9.2 2.4 -4.8 10

11 Other 28.8 5.4 11.8 19.1 42.2 13.9 -36.2 46.0 26.1 4.2 11

12 Municipal securities -4.3 1.0 2.4 8.2 5.8 3.2 6.3 1.5 10.9 8.3 12

13 Corporate and foreign bonds 2.9 -4.8 17.8 30.3 37.8 50.1 63.7 -0.8 41.5 58.8 13

14 Private mortgage pass-through securities 0.9 -0.4 -1.2 0.9 0.6 -0.4 21.2 -13.3 0.2 6.7 14

15 Private CMOs and other structured MBS 3.5 -3.1 0.7 20.3 6.0 7.7 2.8 8.1 25.2 15.4 15

16 Other -1.4 -1.3 18.4 9.0 31.2 42.8 39.7 4.4 16.1 36.7 16

17 Bank loans n.e.c. 77.0 58.2 108.1 145.6 93.3 98.6 -61.5 -58.1 -39.8 65.2 17

18 Mortgages 81.7 57.5 105.5 95.9 161.1 161.6 125.8 265.7 194.9 334.0 18

19 Consumer credit 43.6 25.1 -12.4 -3.1 -4.2 43.3 17.4 34.1 52.8 34.9 19

20 Security credit 8.3 -4.8 4.2 11.9 -8.8 7.1 7.2 -2.7 12.2 10.7 20

21 Corporate equities 2.1 1.8 0.6 1.3 2.0 0.3 0.2 -0.6 2.4 -0.3 21

22 Mutual fund shares 0.3 0.3 0.8 -0.4 2.3 2.5 7.8 1.7 -6.2 -0.9 22

23 Customers’ liab. on acceptances (1) 2.4 1.6 -0.2 -4.6 -2.5 -0.7 -2.3 0.3 -0.2 -0.5 23

24 Miscellaneous assets 1.8 6.2 5.5 -15.8 9.2 5.9 22.3 -7.6 49.2 12.4 24

25 Net increase in liabilities 181.3 139.1 339.1 313.5 291.8 444.0 259.7 446.1 424.6 818.1 25

26 Net interbank liabilities -6.6 -55.8 4.3 20.4 36.8 73.8 2.0 57.2 -9.4 90.0 26

27 Federal Reserve float 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 27

28 Borrowing from Federal Reserve banks -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 28

29 To domestic banking -7.2 -23.6 -6.6 -2.5 -11.3 27.4 16.5 20.9 -54.9 33.0 29

30 To foreign banks -0.2 -36.3 12.6 24.0 49.7 45.4 -13.6 35.9 46.2 55.8 30

31 Checkable deposits -46.0 -34.4 -21.1 -34.5 2.9 -85.0 53.0 -55.6 33.1 38.8 31

32 Federal government -4.7 9.7 -0.9 -14.6 36.4 -33.2 -0.4 -16.4 -0.9 -3.2 32

33 Rest of the world 1.0 3.5 4.4 -2.8 -0.6 2.4 -2.5 -0.3 4.3 9.7 33

34 Private domestic -42.2 -47.5 -24.6 -17.1 -33.0 -54.2 55.9 -38.9 29.7 32.3 34

35 Small time and savings deposits 113.4 122.8 143.9 186.4 73.0 210.6 240.4 273.6 229.6 279.7 35

36 Large time deposits 42.6 49.5 63.2 34.8 61.6 87.9 -25.2 24.3 3.0 115.6 36

37 Federal funds and security RPs (net) 19.6 25.3 43.5 19.7 87.5 -11.1 -9.7 43.1 42.7 14.6 37

38 Acceptance liabilities 2.3 1.7 -0.3 -4.6 -2.5 -0.6 -2.3 0.3 -0.2 -0.4 38

39 Corporate bonds 2.7 7.7 10.7 10.5 3.7 10.6 8.3 -0.6 4.8 10.4 39

40 Other loans and advances 6.2 2.3 19.1 46.9 40.6 26.8 24.2 30.2 8.6 8.8 40

41 Corporate equity issues 2.6 3.2 3.2 3.8 3.6 4.0 7.2 4.7 7.5 5.9 41

42 Taxes payable 0.9 1.2 1.4 1.7 1.9 2.1 2.4 2.6 2.9 3.2 42

43 Miscellaneous liabilities 43.6 15.6 71.2 28.3 -17.2 124.9 -40.5 66.3 102.0 251.7 43

44 Investment by bank holding companies 40.1 28.6 40.7 55.3 2.9 53.6 60.7 53.1 50.5 167.2 44

45 Other 3.5 -13.0 30.5 -27.0 -20.1 71.3 -101.2 13.1 51.5 84.4 45

46 Discrepancy -18.3 -4.7 32.8 -7.9 -79.8 110.6 36.5 64.5 15.9 220.5 46

 Memo:

47 Credit market funds advanced (2) 186.5 119.6 274.9 312.1 318.6 339.5 191.6 393.8 352.2 571.1 47

48 Consumer leases not included above (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

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

(2) 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).

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a tangible asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
18 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 2.6 2.8 3.2 3.7 4.2 4.8 5.3 5.5 5.7 6.5 1

 2 Fixed nonresidential investment 2.5 3.4 4.6 5.6 6.1 6.2 6.6 6.0 6.3 7.9 2

 3 Net acquisition of financial assets 76.6 48.5 96.5 -4.8 -55.5 38.4 3.1 9.2 -50.9 -117.4 3

 4 Reserves at Federal Reserve -0.1 0.3 1.8 -1.9 0.4 -1.0 0.2 0.6 -0.4 -0.1 4

 5 Total bank credit 74.7 70.0 60.2 1.5 -25.7 67.2 -7.2 12.0 -27.7 7.1 5

 6 Open market paper -0.4 0.5 -0.2 -0.1 0.4 -0.1 0.0 0.0 0.0 0.0 6

 7 Treasury securities 29.6 18.4 14.4 -10.3 9.7 -0.5 9.8 12.9 -7.0 -5.9 7

 8 Agency- and GSE-backed securities 14.3 12.4 12.5 5.2 4.9 0.4 -22.0 10.9 -6.5 -1.2 8

 9 Municipal securities 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 4.6 3.2 3.1 5.6 -4.6 8.3 30.6 0.3 0.2 22.4 10

11 Bank loans n.e.c. 35.4 32.2 19.2 -1.7 -22.4 14.6 -19.1 -18.6 -23.6 8.2 11

12 Mortgages -5.1 -2.9 -6.1 -5.7 -4.5 1.2 0.7 1.1 -1.5 -0.6 12

13 Security credit -3.7 6.2 17.5 8.4 -9.3 43.2 -7.2 5.5 10.8 -15.8 13

14 Corporate equities 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Customers’ liab. on acceptances (2) -2.9 -0.6 -2.5 -4.7 -0.6 -0.0 -0.6 -0.4 -0.0 0.1 15

16 Miscellaneous assets 5.0 -21.2 37.0 0.3 -29.7 -27.7 10.7 -3.1 -22.8 -124.5 16

17 Net increase in liabilities 78.5 50.6 98.9 -2.0 -52.4 42.0 7.1 13.6 -46.1 -112.2 17

18 Net interbank liabilities 18.7 -2.5 -30.4 -55.0 -45.0 -40.8 -16.1 -42.3 -17.4 -66.8 18

19 To foreign banks 15.1 -11.5 -17.6 -51.7 -51.2 -57.1 -35.3 -32.3 -12.2 -72.6 19

20 To domestic banks 3.6 9.0 -12.7 -3.3 6.2 16.2 19.2 -10.0 -5.2 5.7 20

21 Checkable deposits -0.1 -0.7 0.8 -0.2 0.6 -0.4 0.4 -0.7 1.1 -0.8 21

22 Small time and savings deposits -0.7 0.1 4.4 -3.7 -1.8 -0.4 4.5 -2.3 0.8 -0.7 22

23 Large time deposits 11.0 55.6 44.7 36.3 57.2 3.4 53.3 -25.1 8.5 75.4 23

24 Federal funds and security RPs (net) 1.8 12.0 25.6 19.7 -17.9 52.3 -11.0 39.5 -5.7 -0.2 24

25 Acceptance liabilities -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 25

26 Miscellaneous liabilities 50.9 -13.3 56.2 5.8 -45.0 27.9 -23.1 44.8 -33.4 -119.2 26

27 Foreign direct investment in U.S. 6.6 -0.1 7.7 5.5 19.4 9.7 8.4 2.1 4.2 17.9 27

28 Due to affiliates 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 28

29 Other 37.6 -26.9 34.2 -11.4 -66.9 -27.5 -9.7 24.1 -44.9 -170.1 29

30 Discrepancy 2.0 1.5 1.1 0.8 1.3 2.2 2.7 3.9 4.3 3.9 30

 Memo:

31 Credit market funds advanced (3) 75.4 63.3 40.2 -11.6 -17.0 23.9 -0.6 6.2 -38.5 23.0 31

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank.

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

(3) Total bank credit (line 5) less security credit (line 13) less corporate equities (line 14) plus customers’ liability on acceptances (line 15).
FFA, 1995-2004, December 11, 2008 19

F.112 Bank Holding Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 26.0 35.1 37.2 34.2 50.0 46.5 54.9 67.9 66.6 56.4 1

 2 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.4 0.3 0.2 2

 3 Net acquisition of financial assets 52.6 44.0 64.5 110.6 55.2 100.7 100.5 83.4 127.3 275.8 3

 4 Credit market instruments -0.3 3.9 5.4 -0.9 6.2 -12.2 4.2 3.1 8.6 -0.0 4

 5 Treasury securities -1.2 0.6 -0.1 -3.1 7.9 -7.9 0.4 0.1 1.4 -0.8 5

 6 Agency- and GSE-backed securities -0.2 0.3 0.6 1.1 -1.3 -0.5 1.4 4.5 0.9 1.9 6

 7 Corporate and foreign bonds 0.6 2.8 5.0 -0.7 1.2 -2.8 2.1 -2.4 1.3 1.3 7

 8 Bank loans n.e.c. 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 8

 9 Miscellaneous assets 53.0 40.1 59.0 111.6 49.0 112.9 96.4 80.3 118.7 275.9 9

10 Investment in bank subsidiaries 40.1 28.6 40.7 55.3 2.9 53.6 60.7 53.1 50.5 167.2 10

11 Investment in nonbank subsidiaries 8.2 0.3 25.0 44.1 17.3 38.4 29.8 -0.2 45.7 76.2 11

12 Other 4.6 11.3 -6.7 12.1 28.9 20.9 5.9 27.3 22.4 32.4 12

13 Net increase in liabilities 26.8 9.2 27.4 76.6 5.4 54.4 45.8 15.7 61.0 219.6 13

14 Net interbank liabilities -3.2 7.0 0.3 10.2 4.1 6.2 -15.3 -3.0 11.6 1.7 14

15 To domestic banks 0.6 11.2 -0.4 9.6 8.2 -26.3 -18.6 -3.6 55.8 -23.8 15

16 To foreign banks -3.8 -4.1 0.8 0.6 -4.1 32.5 3.3 0.6 -44.1 25.6 16

17 Federal funds and security RPs (net) 0.4 0.4 0.0 0.5 0.1 -1.6 -0.1 2.4 0.9 -1.3 17

18 Credit market instruments 14.4 2.0 19.0 24.9 25.8 23.2 23.6 20.3 35.4 59.5 18

19 Commercial paper -1.4 1.9 6.0 7.8 9.1 1.2 -5.1 -2.3 -6.0 10.8 19

20 Corporate bonds 15.8 0.1 13.0 17.1 16.7 22.0 28.7 22.6 41.4 48.7 20

21 Corporate equity issues -11.3 -17.5 -30.9 -15.0 -13.8 -16.5 -15.3 -15.4 -9.6 11.7 21

22 Miscellaneous liabilities 26.6 17.3 39.0 56.0 -10.8 43.1 52.9 11.5 22.6 148.0 22

23 Equity, etc. 12.7 -11.9 -13.1 24.7 -38.6 10.3 -8.9 -44.0 -37.5 129.4 23

24 Other 13.9 29.2 52.1 31.2 27.8 32.8 61.8 55.4 60.1 18.6 24

25 Discrepancy -0.0 -0.0 -0.0 -0.1 -0.1 -0.0 -0.0 -0.1 -0.1 -0.0 25

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

Billions of dollars

 1 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 2

 3 Net acquisition of financial assets 5.9 1.3 5.5 9.8 3.7 4.0 17.0 -5.0 8.4 15.9 3

 4 Checkable deposits and currency 0.2 -0.2 -0.1 0.6 0.3 -0.5 1.1 -0.3 -0.0 1.0 4

 5 Credit market instruments 4.2 0.7 3.7 6.0 4.4 6.7 10.0 1.3 10.6 13.9 5

 6 Treasury securities 0.2 -1.3 0.1 -0.7 -0.7 -1.0 -0.6 0.3 1.0 1.4 6

 7 Agency- and GSE-backed securities 1.3 0.2 2.0 3.9 3.3 4.3 2.5 3.9 4.7 4.7 7

 8 Municipal securities 0.1 -0.1 -0.0 -0.1 0.1 0.1 -0.2 0.0 0.1 -0.2 8

 9 Corporate and foreign bonds -0.1 -0.1 0.1 0.5 -0.5 0.3 0.6 -0.3 0.4 -0.2 9

10 Bank loans n.e.c. 1.8 1.4 0.9 0.9 0.5 1.1 4.5 -4.3 0.3 1.8 10

11 Home mortgages 1.0 0.6 0.1 1.1 0.6 1.0 -0.9 1.5 2.5 3.4 11

12 Commercial mortgages -0.0 -0.1 0.5 0.4 1.2 0.8 4.2 0.2 1.6 3.1 12

13 Miscellaneous assets 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 13

14 Net increase in liabilities 5.5 1.4 5.1 9.4 3.8 3.4 16.4 -5.7 7.5 15.5 14

15 Checkable deposits 0.2 0.5 0.4 1.2 0.0 -0.1 3.1 -1.1 1.5 1.6 15

16 Small time and savings deposits 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 16

17 Large time deposits 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 17

18 Miscellaneous liabilities 2.9 0.6 4.7 6.3 2.2 0.7 4.2 -0.7 3.4 10.8 18

19 Discrepancy -0.4 0.0 -0.4 -0.4 0.1 -0.7 -0.5 -0.7 -0.9 -0.4 19

(1) Commercial banks and branches of U.S.-chartered commercial banks located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.
20 FFA, 1995-2004, December 11, 2008

F.114 Savings Institutions (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 4.1 -0.0 2.4 3.6 6.3 6.3 7.6 12.2 9.7 7.2 1

 2 Fixed nonresidential investment 2.3 2.8 3.0 3.2 3.1 2.9 2.7 2.3 2.2 2.6 2

 3 Net acquisition of financial assets 0.9 16.1 -8.4 60.9 61.9 67.2 73.3 58.8 114.1 184.8 3

 4 Reserves at Federal Reserve -0.2 -0.4 -0.5 0.1 -0.2 0.1 0.6 0.6 0.5 -0.1 4

 5 Checkable deposits and currency 1.7 -1.4 1.0 3.2 2.1 -1.5 2.0 3.8 0.0 -3.5 5

 6 Time and savings deposits -0.2 0.3 -0.4 0.5 -0.1 0.1 0.8 0.4 0.0 0.6 6

 7 Federal funds and security RPs 4.8 -1.2 -0.8 5.5 -4.2 4.3 5.4 -0.3 -7.7 -3.2 7

 8 Credit market instruments -7.6 19.9 -4.7 37.0 67.2 56.2 44.4 33.4 127.3 103.5 8

 9 Open market paper 0.0 0.1 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Treasury securities -8.7 -1.0 -2.8 -4.4 -0.0 -1.4 2.7 -2.2 3.0 -3.9 10

11 Agency- and GSE-backed securities 4.7 -8.5 -0.8 -11.6 3.4 -6.7 21.0 14.7 22.6 -82.3 11

12 Mortgage pass-through securities 1.0 -7.0 -3.7 -6.8 -1.5 -6.7 6.7 17.0 -18.9 0.9 12

13 CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24.3 -45.3 13

14 Other 3.7 -1.5 2.9 -4.7 5.0 0.0 14.3 -2.3 17.2 -38.0 14

15 Municipal securities -0.0 0.1 0.0 0.4 0.5 0.2 1.3 1.0 0.8 0.8 15

16 Corporate and foreign bonds -8.2 -9.9 -9.9 29.9 23.3 -2.5 -25.6 -4.0 -8.0 -12.7 16

17 Private mortgage pass-through securities -4.5 -3.7 -5.9 -1.9 5.1 0.6 -5.8 -2.6 0.1 -2.5 17

18 Private CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.7 -11.0 18

19 Other -3.7 -6.3 -4.0 31.8 18.2 -3.2 -19.7 -1.4 -13.8 0.8 19

20 Other loans and advances 2.5 3.0 3.1 5.3 6.5 8.7 3.6 3.3 10.1 1.3 20

21 Mortgages 0.6 31.6 3.5 12.1 24.1 54.9 35.1 23.0 89.6 186.8 21

22 Consumer credit 1.6 4.6 2.5 5.2 9.4 3.0 6.3 -2.4 9.2 13.4 22

23 Corporate equities 0.7 0.6 0.2 1.5 -0.7 0.4 3.2 2.0 -1.0 -1.1 23

24 Miscellaneous assets 1.7 -1.8 -3.2 13.1 -2.1 7.7 16.9 19.0 -5.1 88.5 24

25 Net increase in liabilities -3.2 15.4 -9.5 57.7 60.8 66.3 70.7 53.7 106.2 178.2 25

26 Deposits -5.7 -6.5 -25.7 -2.6 6.1 27.5 46.6 66.7 84.8 40.0 26

27 Checkable -2.0 -1.3 -5.3 -0.8 -2.0 1.2 3.2 1.8 5.4 0.5 27

28 Small time and savings -12.9 -11.5 -32.0 -17.4 -0.4 6.4 16.6 20.9 47.2 -14.4 28

29 Large time 9.2 6.3 11.7 15.7 8.5 19.9 26.8 44.0 32.2 54.0 29

30 Security RPs -0.0 -0.9 -1.9 9.5 21.4 -6.0 5.8 -15.0 20.1 4.7 30

31 Credit market instruments 2.6 25.5 19.7 52.2 48.0 27.3 -2.0 -23.4 34.5 89.0 31

32 Corporate bonds -0.0 -0.4 0.1 -0.2 0.2 3.5 -2.6 -0.2 1.7 2.5 32

33 Bank loans n.e.c. 5.2 1.4 3.5 10.3 -15.7 7.4 1.5 4.2 15.2 26.5 33

34 Other loans and advances -2.6 24.5 16.2 42.1 63.5 16.3 -0.9 -27.4 17.6 60.0 34

35 Corporate equities 0.0 0.0 0.0 0.0 0.2 -0.4 0.3 0.5 2.0 0.6 35

36 Taxes payable 0.5 -0.1 0.4 0.2 0.0 0.4 -0.7 -0.2 -0.2 0.6 36

37 Miscellaneous liabilities -0.6 -2.6 -2.1 -1.5 -14.9 17.5 20.7 25.1 -35.0 43.3 37

38 Investment by parent 0.1 0.2 0.3 0.4 0.5 0.7 0.8 0.9 1.0 1.2 38

39 Other -0.7 -2.8 -2.4 -1.9 -15.5 16.9 19.9 24.2 -36.1 42.2 39

40 Discrepancy -2.3 -3.4 -1.7 -2.8 2.1 2.5 2.2 4.9 -0.3 -2.0 40

(1) Savings and loan associations, mutual savings banks, and federal savings banks.
FFA, 1995-2004, December 11, 2008 21

F.115 Credit Unions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 5.4 5.8 4.7 4.8 5.3 6.1 6.0 7.4 7.5 7.9 1

 2 Fixed nonresidential investment 0.9 1.3 1.6 1.9 1.9 1.9 1.9 1.7 1.8 2.2 2

 3 Net acquisition of financial assets 17.1 19.5 23.7 37.7 23.0 26.5 64.4 58.5 53.2 37.5 3

 4 Checkable deposits and currency 0.9 0.1 0.6 1.0 17.3 0.3 10.1 1.6 3.2 -1.4 4

 5 Time and savings deposits 0.4 -0.7 0.6 6.4 -6.8 -1.1 7.4 1.6 2.5 -0.7 5

 6 Federal funds and security RPs (net) 0.2 -4.9 2.0 3.4 2.4 -5.3 -1.5 -0.8 -0.1 2.6 6

 7 Credit market instruments 16.2 25.5 16.8 18.9 27.5 28.0 41.5 44.2 51.2 39.8 7

 8 Open market paper -1.6 -0.3 -0.1 0.2 1.5 -0.6 1.2 -0.9 -0.8 0.1 8

 9 Treasury securities -3.8 -0.9 -1.8 -2.5 -3.5 -1.4 -0.8 0.1 1.2 0.1 9

10 Agency- and GSE-backed securities 4.9 4.9 0.4 7.3 2.9 -0.4 19.6 -1.5 15.2 -1.1 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 2.3 0.6 11

12 Home mortgages 4.4 9.5 10.1 10.8 14.1 13.8 16.4 18.2 23.2 30.6 12

13 Consumer credit 12.3 12.2 8.2 3.0 12.5 16.5 5.1 6.2 10.1 9.5 13

14 Mutual fund shares 0.2 -0.3 -0.2 1.2 -1.1 -0.3 1.5 -0.2 0.5 -0.9 14

15 Miscellaneous assets -0.8 -0.2 3.8 6.8 -16.4 4.9 5.4 12.1 -4.1 -1.8 15

16 Net increase in liabilities 13.4 16.4 20.5 34.7 20.8 22.0 60.8 53.4 49.2 33.7 16

17 Shares/deposits 15.4 16.3 20.3 33.6 17.7 22.4 61.1 49.5 45.3 29.5 17

18 Checkable 2.1 1.6 4.1 6.4 2.3 5.9 3.5 5.7 6.0 7.6 18

19 Small time and savings 11.6 12.3 13.2 23.1 12.3 13.0 48.6 35.1 28.5 15.5 19

20 Large time 1.7 2.4 2.9 4.1 3.1 3.5 9.0 8.7 10.8 6.4 20

21 Other loans and advances -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 21

22 Miscellaneous liabilities -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 22

23 Discrepancy 0.7 1.5 -0.1 -0.0 1.1 -0.4 0.4 0.6 1.8 1.9 23

F.116 Property-Casualty Insurance Companies

Billions of dollars

 1 Gross saving 5.1 3.6 1.9 4.0 4.1 -2.8 -6.2 11.8 28.1 30.1 1

 2 Fixed nonresidential investment 3.7 2.4 2.8 3.6 4.0 4.5 4.3 4.5 4.4 6.0 2

 3 Net acquisition of financial assets 37.0 16.2 37.1 16.5 -9.0 8.9 16.6 85.0 88.3 80.3 3

 4 Checkable deposits and currency -0.2 -0.9 0.3 -0.2 0.2 -0.6 9.4 12.8 8.6 -8.7 4

 5 Security RPs 8.1 -2.1 -0.2 7.4 -14.4 10.0 -8.1 14.2 8.5 10.2 5

 6 Credit market instruments 21.5 22.5 25.2 5.8 -3.0 -8.7 9.0 39.9 67.0 73.6 6

 7 Treasury securities 0.5 -12.6 2.1 -20.8 -9.7 -8.6 -0.0 9.2 3.5 6.6 7

 8 Agency- and GSE-backed securities 2.3 2.8 1.7 -1.2 5.9 8.6 10.1 19.0 2.2 -3.3 8

 9 Municipal securities 7.0 14.4 2.6 16.5 -9.1 -14.9 -10.3 9.2 41.2 43.6 9

10 Corporate and foreign bonds 12.7 18.3 18.9 11.6 10.0 6.4 8.9 2.4 20.0 26.4 10

11 Commercial mortgages -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 11

12 Corporate equities -0.9 -7.1 2.6 -5.4 -1.7 0.3 -0.7 -1.6 -3.4 -3.9 12

13 Mutual fund shares 0.3 0.3 0.4 0.3 0.1 0.4 0.4 0.5 0.7 0.5 13

14 Trade receivables 4.4 -0.1 2.7 1.6 2.0 1.0 5.3 4.9 4.5 0.3 14

15 Miscellaneous assets 3.8 3.6 6.1 6.9 7.7 6.4 1.3 14.3 2.3 8.4 15

16 Net increase in liabilities 21.8 10.0 -1.2 2.9 8.0 3.6 29.8 61.2 57.4 43.2 16

17 Corporate equity issues -2.2 -4.8 -13.7 -4.7 -7.8 -4.5 0.5 6.2 4.1 -4.0 17

18 Taxes payable 1.2 2.5 1.8 2.0 2.0 2.3 2.7 3.2 3.7 4.2 18

19 Miscellaneous liabilities 22.8 12.3 10.7 5.6 13.8 5.8 26.5 51.8 49.6 43.0 19

20 Discrepancy -13.9 -4.9 -39.2 -13.3 17.2 -12.6 2.7 -16.4 -7.1 -13.0 20
22 FFA, 1995-2004, December 11, 2008

F.117 Life Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving -5.3 -2.4 -10.4 -11.6 -6.6 -8.2 -5.3 -2.4 -7.5 3.3 1

 2 Fixed nonresidential investment 4.7 3.6 3.6 4.0 4.0 3.7 3.4 2.9 2.6 2.7 2

 3 Net acquisition of financial assets 145.5 125.4 213.7 187.0 169.3 203.5 250.6 279.8 258.2 264.4 3

 4 Checkable deposits and currency -0.5 -0.9 3.8 -2.7 0.0 -0.5 31.9 -1.6 12.0 6.0 4

 5 Money market fund shares 6.6 39.1 32.6 17.6 21.4 10.5 31.0 -13.5 -8.3 -30.7 5

 6 Credit market instruments 100.0 69.6 104.8 76.9 53.5 57.9 130.9 233.0 180.6 173.0 6

 7 Open market paper -7.3 2.9 17.5 7.5 2.0 -4.5 -11.9 14.7 -18.2 -7.6 7

 8 Treasury securities 1.0 -14.9 1.6 -14.1 -9.3 -4.6 -4.4 24.8 -6.6 6.6 8

 9 Agency- and GSE-backed securities 8.7 1.3 -3.0 -9.6 7.0 11.0 18.1 77.4 18.0 8.2 9

10 Municipal securities -0.9 1.5 0.1 1.7 1.7 -1.0 -0.4 1.2 6.2 4.0 10

11 Corporate and foreign bonds 90.7 79.2 85.7 82.6 41.2 47.9 119.5 105.7 170.4 145.9 11

12 Other loans and advances 10.4 4.6 4.3 2.0 -4.8 3.9 2.9 2.2 -0.1 3.5 12

13 Mortgages -2.6 -5.0 -1.3 6.8 15.7 5.2 7.1 7.0 10.9 12.4 13

14 Corporate equities 28.2 44.5 72.0 82.5 116.9 111.3 70.2 52.7 45.5 51.5 14

15 Mutual fund shares 3.9 4.5 7.2 9.4 10.0 5.6 2.1 2.6 0.5 12.8 15

16 Miscellaneous assets 7.2 -31.4 -6.7 3.5 -32.6 18.7 -15.5 6.7 27.9 51.9 16

17 Net increase in liabilities 118.9 92.1 186.0 173.1 152.9 195.1 248.5 259.7 230.0 228.0 17

18 Corporate equity issues -3.6 -8.8 -4.0 -4.7 -6.0 -0.8 -0.9 -6.5 -3.9 -17.3 18

19 Other loans and advances -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 19

20 Life insurance reserves 44.8 43.8 57.6 46.7 49.4 48.7 75.8 58.5 65.7 32.0 20

21 Pension fund reserves (1) 52.5 36.7 103.9 131.4 102.7 166.6 129.2 149.3 144.2 200.4 21

22 Taxes payable 1.6 0.5 1.2 1.2 1.3 1.6 2.0 2.4 2.8 3.2 22

23 Miscellaneous liabilities 23.6 18.9 27.2 -2.2 4.8 -20.3 41.8 54.0 18.4 6.7 23

24 Discrepancy -36.6 -39.3 -41.8 -29.5 -27.0 -20.2 -10.8 -25.4 -38.4 -35.7 24

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 23).

F.118 Private Pension Funds (1)

Billions of dollars

 1 Gross saving 0.3 0.4 0.4 0.5 0.6 0.5 0.6 0.6 0.6 0.7 1

 2 Fixed nonresidential investment 0.5 0.8 0.9 1.0 0.8 0.5 0.7 0.2 0.2 0.3 2

 3 Net acquisition of financial assets 33.0 3.7 -15.8 41.6 -14.8 -23.5 -19.7 16.9 26.6 9.8 3

 4 Checkable deposits and currency 0.8 0.7 1.4 -0.8 1.3 3.3 -0.8 0.3 0.2 0.1 4

 5 Time and savings deposits 8.1 8.9 11.0 29.8 -39.3 -22.9 -36.4 -3.9 3.0 -4.6 5

 6 Money market fund shares 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 6

 7 Security RPs 0.3 4.9 1.2 1.2 1.9 -5.1 -8.9 1.3 1.4 1.6 7

 8 Credit market instruments 16.9 -6.1 44.5 -7.1 107.2 -125.0 -36.0 -8.6 69.2 -0.3 8

 9 Open market paper 0.8 6.0 1.5 3.2 6.0 -6.2 -8.2 2.2 -3.2 0.3 9

10 Treasury securities -0.4 -4.8 2.0 -13.2 16.8 -9.9 -7.6 -3.4 13.3 -4.1 10

11 Agency- and GSE-backed securities 1.6 -11.3 6.1 -17.2 39.6 -32.9 5.1 -19.4 38.3 11.3 11

12 Corporate and foreign bonds 14.0 3.3 34.0 20.4 43.1 -76.3 -23.1 11.4 20.9 -7.7 12

13 Mortgages 0.8 0.7 0.8 -0.2 1.8 0.2 -2.2 0.6 -0.1 -0.2 13

14 Corporate equities -91.0 -91.5 -150.7 -31.5 -180.4 62.8 106.5 -61.5 -24.1 11.2 14

15 Mutual fund shares 72.0 45.7 55.2 53.6 99.4 117.3 18.2 59.9 -3.8 36.1 15

16 Miscellaneous assets 19.5 30.0 8.3 -5.9 -17.1 -58.1 -56.3 20.0 -19.1 -34.8 16

17 Unallocated insurance contracts (2) 7.8 4.8 -9.9 -23.6 -18.5 -35.7 11.8 12.2 -18.1 -35.2 17

18 Contributions receivable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 18

19 Other 6.3 19.8 9.8 4.8 19.8 -3.4 -43.5 6.2 -0.8 3.5 19

20 Pension fund reserves (liabilities) (3) 33.1 4.1 -15.3 42.0 -14.6 -23.5 -19.6 16.5 26.2 9.4 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 tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.
FFA, 1995-2004, December 11, 2008 23

F.119 State and Local Government Employee Retirement Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets 64.2 49.2 78.3 60.7 46.4 100.4 86.9 51.7 39.9 23.8 3

 4 Checkable deposits and currency -2.5 3.3 -2.2 4.7 -0.7 0.7 1.5 1.5 0.8 2.5 4

 5 Time and savings deposits 2.0 -2.2 0.1 -0.4 -0.3 -0.1 0.2 -0.1 -0.9 0.6 5

 6 Money market fund shares 0.9 1.7 2.1 0.3 1.8 1.4 2.2 0.1 -2.1 -1.9 6

 7 Security RPs 3.7 -3.3 0.4 8.9 2.8 -0.5 -5.9 -6.9 -3.6 -3.2 7

 8 Credit market instruments 31.1 28.6 59.9 63.2 45.5 36.3 -53.8 -50.7 18.8 17.8 8

 9 Open market paper 3.7 -3.3 0.4 8.9 2.8 6.9 4.0 -3.2 -6.4 -6.5 9

10 Treasury securities -7.4 4.6 6.2 -6.4 -13.8 -19.8 -24.0 3.8 -10.3 2.4 10

11 Agency- and GSE-backed securities 23.2 5.5 18.4 19.1 22.9 49.9 1.9 11.8 42.5 23.7 11

12 Municipal securities 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -2.6 12

13 Corporate and foreign bonds 10.1 22.2 33.1 35.1 30.4 4.2 -34.6 -62.4 -9.9 6.0 13

14 Mortgages 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.3 14

15 Corporate equities 18.2 18.2 9.4 -28.2 -6.2 11.6 115.1 85.2 35.4 1.9 15

16 Mutual fund shares 10.7 2.2 8.5 12.0 2.1 49.9 25.8 22.2 -9.5 1.5 16

17 Miscellaneous assets 0.2 0.7 0.1 0.2 1.3 1.1 1.8 0.4 0.9 4.6 17

18 Pension fund reserves (liabilities) (1) 64.2 49.2 78.3 60.7 46.4 100.4 86.9 51.7 39.9 23.8 18

(1) Equal to the net acquisition of tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

F.120 Federal Government Retirement Funds (1)

Billions of dollars

 1 Net acquisition of financial assets 26.9 61.6 46.5 47.9 48.5 28.2 69.9 45.4 48.2 54.7 1

 2 Credit market instruments 3.4 2.4 1.8 2.7 2.9 2.1 9.7 12.7 6.0 4.7 2

 3 Treasury securities 3.2 2.2 1.7 2.3 2.9 2.0 7.2 9.6 5.1 5.4 3

 4 Agency- and GSE-backed securities 0.1 0.1 0.1 0.2 -0.0 0.1 1.6 1.9 0.5 -0.5 4

 5 Corporate and foreign bonds 0.1 0.1 0.0 0.1 -0.0 0.0 0.9 1.2 0.4 -0.3 5

 6 Corporate equities 2.6 4.2 4.4 4.0 4.4 5.2 -0.6 8.2 17.5 9.1 6

 7 Miscellaneous assets(2) 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 7

 8 Pension fund reserves (liabilities) (3) 26.9 61.6 46.5 47.9 48.5 28.2 69.9 45.4 48.2 54.7 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.
24 FFA, 1995-2004, December 11, 2008

F.121 Money Market Mutual Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 1

 2 Foreign deposits 4.0 3.4 0.1 6.9 11.0 50.3 27.8 -6.8 -36.6 7.0 2

 3 Checkable deposits and currency -1.0 2.4 2.6 -2.5 -2.3 4.7 3.9 -6.8 -0.7 2.7 3

 4 Time and savings deposits 20.9 30.4 28.6 12.6 31.5 -11.7 89.3 -23.9 -53.3 0.4 4

 5 Security RPs 19.0 16.0 22.8 12.2 1.7 43.5 43.4 47.1 -20.8 -18.7 5

 6 Credit market instruments 86.5 88.8 87.5 248.6 184.9 138.3 267.3 -17.7 -95.9 -124.9 6

 7 Open market paper 48.4 38.4 62.1 79.1 110.2 96.7 3.4 -38.6 -125.2 -54.1 7

 8 Treasury securities 3.8 20.3 -4.0 21.7 -4.0 -12.9 46.0 4.7 -10.2 -33.9 8

 9 Agency- and GSE-backed securities 13.7 11.0 -5.5 76.1 18.6 -7.0 141.5 8.7 -4.6 -61.1 9

10 Municipal securities 14.3 16.8 22.5 25.8 17.6 34.1 34.2 1.8 13.6 21.8 10

11 Corporate and foreign bonds 6.4 2.4 12.5 45.8 42.6 27.3 42.3 5.6 30.5 2.3 11

12 Miscellaneous assets 11.6 4.4 14.3 7.6 24.9 7.5 -3.3 -8.6 -0.2 -2.9 12

13 Net share issues (liabilities) 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 13

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

F.122 Mutual Funds (1)

Billions of dollars

 1 Gross saving 8.7 4.9 6.2 -9.1 4.1 -1.5 -8.4 -21.6 2.5 3.2 1

 2 Net acquisition of financial assets 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 2

 3 Security RPs 7.1 -2.7 10.3 13.1 9.9 18.8 -28.9 10.9 12.9 18.1 3

 4 Credit market instruments 52.5 48.9 80.9 127.3 48.4 26.3 126.6 138.7 138.0 116.6 4

 5 Open market paper 7.1 -3.1 10.6 13.1 9.9 18.8 -28.9 -7.7 13.1 18.0 5

 6 Treasury securities 13.4 -18.0 10.6 4.6 -23.7 10.2 -9.8 17.2 9.3 4.8 6

 7 Agency- and GSE-backed securities 5.5 33.1 8.9 21.6 36.2 12.6 84.7 54.0 25.2 15.2 7

 8 Municipal securities 3.2 3.1 6.5 22.8 -3.2 -9.0 22.6 24.3 12.9 4.1 8

 9 Corporate and foreign bonds 23.1 33.0 40.9 62.5 26.3 -10.6 65.4 50.4 78.5 64.9 9

10 Other loans and advances 0.2 0.8 3.4 2.7 2.9 4.3 -7.3 0.5 -1.1 9.6 10

11 Corporate equities 87.4 193.0 166.8 143.3 136.4 193.1 109.8 31.4 136.8 158.5 11

12 Miscellaneous assets 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 12

13 Net share issues (liabilities) 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 13

14 Discrepancy 8.7 4.9 6.2 -9.1 4.1 -1.5 -8.4 -21.6 2.5 3.2 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

 Closed-end funds

 1 Net acquisition of financial assets 8.0 0.3 -11.2 -6.8 -4.8 -5.5 1.9 18.1 43.7 32.7 1

 2 Credit market instruments 8.5 2.9 -1.1 4.9 9.6 -5.6 3.2 8.6 35.5 11.0 2

 3 Treasury securities -1.7 0.1 -1.4 -1.0 -1.2 -0.9 0.1 -2.8 0.6 2.3 3

 4 Municipal securities 4.8 1.0 0.3 1.3 9.0 -2.0 7.0 11.3 3.2 -0.1 4

 5 Corporate and foreign bonds 5.4 1.9 -0.0 4.7 1.8 -2.7 -3.8 0.1 31.6 8.9 5

 6 Corporate equities -0.5 -2.6 -10.0 -11.8 -14.5 0.1 -1.3 9.4 8.3 21.7 6

 7 Net share issues (liabilities) 8.0 0.3 -11.2 -6.8 -4.8 -5.5 1.9 18.1 43.7 32.7 7

 Exchange-traded funds

 8 Net acquisition of financial assets 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 0.7 3.8 9

10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 0.1 2.8 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 0.6 1.0 11

12 Corporate equities 0.4 1.1 3.4 6.0 12.2 42.4 31.0 41.6 15.1 52.6 12

13 Net share issues (liabilities) 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 13
FFA, 1995-2004, December 11, 2008 25

F.124 Government-Sponsored Enterprises (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1.9 1.9 2.1 2.2 2.9 2.7 3.0 3.1 3.1 3.8 1

 2 Fixed nonresidential investment 0.5 0.7 0.6 0.6 0.5 0.4 0.4 0.5 0.5 0.6 2

 3 Net acquisition of financial assets 115.1 91.7 111.6 305.0 317.4 237.8 344.4 240.0 245.0 88.5 3

 4 Checkable deposits and currency 0.2 -0.7 1.3 2.9 7.2 -7.7 2.3 8.1 14.0 10.4 4

 5 Time and savings deposits 0.0 0.0 0.0 -1.7 5.2 0.5 8.1 -5.1 -8.5 6.5 5

 6 Federal funds and security RPs 20.5 -11.8 -4.1 -13.4 12.7 3.0 23.8 -9.1 -20.0 18.3 6

 7 Credit market instruments 95.3 97.3 106.7 317.3 287.3 246.0 304.7 224.1 241.0 48.9 7

 8 Open market paper -0.8 9.6 -1.1 28.6 -32.4 10.7 2.7 -23.5 -3.7 -0.9 8

 9 Treasury securities 6.1 -12.9 7.1 -0.7 5.8 0.6 0.4 12.1 -12.3 -0.6 9

10 Agency- and GSE-backed securities 60.0 65.8 67.6 158.4 172.9 145.0 190.1 114.9 85.1 -147.8 10

11 Municipal securities 2.7 4.3 0.5 6.5 3.6 2.8 6.2 4.0 5.0 0.3 11

12 Corporate and foreign bonds 9.9 8.1 6.0 24.6 28.8 23.3 41.4 50.3 50.3 137.4 12

13 Other loans and advances 7.2 29.4 35.4 93.5 108.1 45.3 28.3 8.9 31.1 73.5 13

14 Sallie Mae -3.1 -1.1 -1.0 -0.3 -0.3 0.1 -0.0 -0.4 -0.1 -0.3 14

15 Farm Credit System 3.9 1.4 0.0 3.3 0.9 3.1 2.9 2.0 0.0 -0.2 15

16 FHLB loans 6.4 29.1 36.4 90.4 107.6 42.1 25.4 7.2 31.2 74.1 16

17 Mortgages 6.3 -6.4 -4.7 7.6 -5.0 22.2 33.2 59.8 101.7 7.5 17

18 Home 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 89.7 -6.7 18

19 Multifamily residential 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 19

20 Farm 0.3 1.0 1.5 2.0 1.1 1.6 3.3 5.7 -0.1 -0.0 20

21 Consumer credit (2) 4.0 -0.6 -4.2 -1.2 5.4 -3.9 2.4 -2.5 -16.3 -20.6 21

22 Miscellaneous assets -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 22

23 Net increase in liabilities 112.0 91.0 108.0 299.9 313.3 232.1 351.6 247.6 227.5 70.9 23

24 Credit market instruments 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 24

25 GSE issues (3) 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 25

26 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Miscellaneous liabilities 6.0 0.6 8.9 21.0 -5.5 -3.1 47.4 27.7 -23.3 -4.1 27

28 Discrepancy -1.8 0.4 -2.1 -3.5 -1.7 -3.4 9.8 10.2 -14.8 -14.4 28

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

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

(2) Sallie Mae student loans.

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

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

Billions of dollars

 1 Net acquisition of financial assets 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 330.6 47.9 1

 2 Home mortgages 93.8 135.4 109.3 182.1 264.6 190.9 322.9 315.2 303.5 45.0 2

 3 Multifamily residential mortgages 4.5 5.6 5.3 10.5 9.2 8.5 15.6 12.9 26.5 2.9 3

 4 Commercial mortgages -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 -0.0 0.0 0.1 0.8 0.3 0.0 -1.3 0.6 -0.1 5

 6 Net increase in pool securities (liabilities)(2) 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 330.6 47.9 6

(1) GNMA, Fannie Mae, Freddie Mac, FAMC, and Farmers Home Administration pools. Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for

 agency- and GSE-backed CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and

 other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
26 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.3 0.8 1.1 1.4 1.3 0.9 0.8 0.7 0.7 0.6 1

 2 Fixed nonresidential investment 1.6 6.1 3.2 3.2 -1.7 -2.3 1.1 -0.4 0.4 -0.2 2

 3 Net acquisition of financial assets 126.5 109.4 135.2 256.3 156.6 172.6 264.4 222.3 248.8 438.1 3

 4 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.1 0.4 0.4 1.9 5.2 4

 5 Agency- and GSE-backed securities (1) 20.2 -6.0 -21.8 23.3 38.2 8.5 33.6 75.4 83.0 -4.4 5

 6 Other loans and advances 6.0 8.3 26.3 25.7 -0.1 14.1 26.2 6.1 5.1 20.2 6

 7 Mortgages (2) 17.5 37.5 62.9 129.9 73.6 66.1 122.0 110.7 172.7 432.1 7

 8 Home 10.8 21.6 38.4 68.1 31.8 31.8 77.7 80.3 122.2 380.0 8

 9 Multifamily residential 2.1 3.9 4.7 12.9 8.7 5.4 5.8 5.4 7.9 6.4 9

10 Commercial 4.6 12.0 19.7 48.9 33.1 28.8 38.5 25.0 42.6 45.7 10

11 Consumer credit 67.0 60.4 47.0 73.5 62.7 67.7 69.6 35.3 -22.5 -25.3 11

12 Trade credit 15.8 9.1 20.9 4.0 -17.8 16.1 12.6 -5.6 8.7 10.2 12

13 Net increase in liabilities 127.8 114.6 137.3 258.1 153.7 169.5 264.6 221.2 248.6 437.3 13

14 Commercial paper 37.3 45.4 89.4 125.7 139.0 125.0 84.9 -41.7 -36.6 -4.2 14

15 Corporate bonds (net) (5) 90.5 69.2 48.0 132.4 14.7 44.4 179.7 262.9 285.2 441.5 15

16 Discrepancy 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) 1.3 5.3 2.1 1.8 -2.9 -3.2 0.3 -1.1 -0.2 -0.7 17

18 REIT assets (4) -1.3 -0.3 3.7 2.9 -2.2 -1.7 -3.2 8.0 15.6 60.7 18

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a tangible asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(4) Included in table F.128.

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

F.127 Finance Companies (1)

Billions of dollars

 1 Gross saving 24.1 27.8 29.5 33.6 42.3 42.8 68.3 78.5 78.5 73.2 1

 2 Fixed nonresidential investment 27.5 31.9 34.4 39.6 49.7 49.1 38.8 40.1 32.2 37.0 2

 3 Net acquisition of financial assets 69.3 52.5 41.4 60.2 157.2 196.2 91.1 141.6 233.9 178.5 3

 4 Checkable deposits and currency 1.7 1.9 2.1 2.3 2.5 2.6 2.9 3.1 3.3 3.5 4

 5 Credit market instruments 46.5 27.1 14.0 84.9 106.9 136.5 49.9 103.7 122.9 214.9 5

 6 Other loans and advances 26.7 3.1 -0.6 36.8 54.2 61.1 -16.0 3.8 -2.3 9.8 6

 7 Mortgages 2.1 21.2 1.9 32.3 34.4 42.6 20.3 72.3 39.7 105.8 7

 8 Consumer credit 17.7 2.8 12.6 15.8 18.3 32.8 45.5 27.5 85.5 99.3 8

 9 Miscellaneous assets 21.0 23.5 25.4 -27.0 47.8 57.1 38.4 34.8 107.7 -39.9 9

10 Net increase in liabilities 69.3 59.1 29.6 51.3 148.5 221.1 66.0 135.4 239.8 189.4 10

11 Credit market instruments 47.9 54.7 29.3 60.9 75.5 86.3 10.9 66.2 111.1 134.3 11

12 Open market paper -2.9 9.4 24.6 30.7 -2.9 9.7 -77.7 -14.6 -2.7 30.2 12

13 Corporate bonds 52.6 36.8 4.7 24.2 64.7 72.9 68.1 64.0 107.9 74.1 13

14 Bank loans n.e.c. -1.7 8.5 -0.0 6.0 13.8 3.6 20.5 16.8 5.8 30.0 14

15 Taxes payable 0.7 0.8 0.8 0.8 0.8 1.0 1.2 1.4 1.6 1.8 15

16 Miscellaneous liabilities 20.6 3.6 -0.5 -10.5 72.1 133.9 53.9 67.8 127.1 53.2 16

17 Foreign direct investment in U.S. 2.8 5.1 6.6 2.6 13.2 14.9 7.8 -3.5 21.7 16.1 17

18 Investment by parent 8.1 7.6 -12.0 -28.8 53.5 115.1 17.9 23.1 23.4 54.9 18

19 Other 9.8 -9.1 4.9 15.8 5.4 3.9 28.2 48.3 82.1 -17.7 19

20 Discrepancy -3.3 2.5 -16.8 -14.9 -16.0 18.6 4.4 32.2 52.2 47.1 20

 Memo:

21 Consumer leases not included above (2) 13.4 12.3 5.6 -2.2 6.3 6.6 -2.1 -17.6 -10.7 -4.9 21

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

(2) See footnote (3), table F.126.
FFA, 1995-2004, December 11, 2008 27

F.128 Real Estate Investment Trusts (REITs)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 2.8 4.0 6.6 7.9 7.5 -4.9 7.1 6.2 2.1 3.0 1

 2 Fixed nonresidential investment 7.0 17.8 52.0 64.7 8.8 0.6 6.6 24.7 22.3 46.3 2

 3 Multifamily residential investment 2.7 4.4 11.3 11.4 1.8 3.9 4.1 4.5 -0.4 7.7 3

 4 Net acquisition of financial assets 2.3 4.9 26.1 6.4 -1.7 -2.6 10.0 24.2 34.3 101.6 4

 5 Checkable deposits and currency 0.0 2.2 1.1 0.8 0.3 -0.0 1.1 -0.1 3.9 2.9 5

 6 Credit market instruments 1.4 4.4 20.2 -5.1 1.5 -5.3 8.6 22.2 26.2 87.5 6

 7 Agency- and GSE-backed securities -0.2 3.2 9.0 -8.1 1.4 0.5 7.0 9.7 -2.9 15.8 7

 8 Corporate and foreign bonds 0.8 1.4 2.1 -0.4 -0.1 -0.4 2.3 2.4 8.4 17.2 8

 9 Mortgages 0.8 -0.3 9.1 3.4 0.1 -5.4 -0.7 10.0 20.7 54.5 9

10 Home 1.9 1.1 6.0 0.8 -0.7 -3.3 0.2 9.9 18.4 51.0 10

11 Multifamily residential -0.6 -0.4 0.9 0.1 0.3 -0.3 -0.4 -0.5 0.3 0.1 11

12 Commercial -0.5 -1.0 2.2 2.5 0.5 -1.9 -0.4 0.5 2.0 3.4 12

13 Miscellaneous assets 1.0 -1.7 4.9 10.7 -3.5 2.7 0.2 2.1 4.2 11.2 13

14 Net increase in liabilities 15.8 29.5 92.2 86.4 17.6 3.9 18.6 52.5 52.4 151.8 14

15 Security RPs 1.2 2.8 11.2 -9.8 -0.3 -2.5 9.3 14.6 5.5 27.5 15

16 Credit market instruments 4.5 11.9 39.6 62.7 12.3 2.6 3.2 26.9 32.1 95.1 16

17 Open market paper -0.0 0.0 0.0 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 17

18 Corporate bonds 0.2 1.3 14.8 21.7 11.7 1.9 4.4 15.9 23.6 67.6 18

19 Bank loans n.e.c. -1.0 2.7 9.9 16.0 -6.1 -4.2 -3.3 0.1 0.3 1.5 19

20 Mortgages 5.3 7.9 14.9 24.8 6.9 4.9 2.2 11.0 8.2 25.9 20

21 Corporate equity issues 8.7 12.3 32.5 19.8 6.6 2.0 6.1 8.4 13.3 21.5 21

22 Miscellaneous liabilities 1.4 2.5 8.8 13.6 -1.0 1.8 0.1 2.7 1.5 7.8 22

23 Discrepancy 6.6 6.4 9.4 11.7 16.3 -2.9 5.2 5.3 -1.7 -0.7 23

 Memo:

24 Securitized assets included above -1.3 -0.3 3.7 2.9 -2.2 -1.7 -3.2 8.0 15.6 60.7 24

25 Agency- and GSE-backed securities -2.3 0.3 0.4 0.1 -1.3 -0.2 -3.1 -0.3 0.0 0.0 25

26 Home mortgages 0.9 -0.8 3.1 1.8 -1.9 -0.3 0.2 7.7 15.7 59.0 26

27 Multifamily residential mortgages 0.0 0.3 0.2 0.4 -0.3 -0.3 -0.0 -0.0 -0.0 -0.0 27

28 Commercial mortgages 0.0 0.0 0.0 0.6 1.3 -0.9 -0.2 0.6 -0.1 1.7 28
28 FFA, 1995-2004, December 11, 2008

F.129 Security Brokers and Dealers

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 3.6 6.6 10.0 0.8 2.0 -16.5 4.5 12.6 14.9 20.4 1

 2 Fixed nonresidential investment 8.2 8.4 9.1 12.0 13.4 16.3 15.6 10.9 10.5 12.5 2

 3 Net acquisition of financial assets 113.4 68.2 142.8 142.0 79.8 220.4 244.3 -130.2 277.6 231.9 3

 4 Checkable deposits and currency 1.7 1.9 6.0 3.7 3.3 1.6 16.8 -2.9 2.9 15.7 4

 5 Credit market instruments 90.1 -15.7 14.9 6.8 -34.7 68.9 92.4 28.4 79.6 -29.2 5

 6 Open market paper 10.9 1.6 0.6 3.8 -2.0 13.2 9.0 -4.7 5.9 -1.3 6

 7 Treasury securities 61.0 -31.1 7.5 21.2 -58.4 39.4 13.1 -13.7 41.7 -82.4 7

 8 Agency- and GSE-backed securities 9.0 1.2 -4.8 0.5 15.0 -2.3 14.1 14.1 -8.1 23.5 8

 9 Municipal securities -2.7 -1.9 2.4 -0.1 -1.2 -0.7 7.7 2.0 3.8 7.1 9

10 Corporate and foreign bonds 11.7 13.1 5.7 -17.9 11.9 17.2 47.3 32.1 36.2 18.7 10

11 Other loans and advances 0.3 1.4 3.5 -0.7 0.1 2.1 1.3 -1.3 0.1 5.2 11

12 Corporate equities 7.7 -1.9 2.4 -6.0 7.7 9.6 17.3 3.2 4.1 15.2 12

13 Security credit 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 13

14 Miscellaneous assets 10.3 68.2 82.8 115.9 28.3 133.0 156.6 -110.8 156.6 148.6 14

15 Net increase in liabilities 102.2 59.4 127.5 138.1 78.3 210.1 239.4 -118.7 257.6 230.9 15

16 Security RPs (net) 79.0 -1.5 22.7 4.6 37.1 56.9 51.0 -9.0 146.2 36.5 16

17 Credit market instruments -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 17

18 Corporate bonds -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 18

19 Bank loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Corporate equity issues -8.1 -6.5 -5.9 2.5 7.6 -4.2 6.7 10.2 -8.0 2.6 20

21 Trade payables 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 21

22 Security credit 23.1 36.6 74.2 81.6 29.2 138.9 41.9 -38.9 85.7 97.9 22

23 Customer credit balances (HH) 18.6 35.3 52.6 61.2 47.2 88.6 41.9 -41.6 62.7 103.0 23

24 From banks 4.6 1.3 21.7 20.3 -18.0 50.4 0.0 2.8 23.0 -5.1 24

25 Taxes payable -0.1 0.1 0.1 -0.1 0.9 -0.1 -0.2 -0.5 0.4 0.4 25

26 Miscellaneous liabilities 12.6 28.4 21.6 44.7 7.5 -1.9 138.5 -77.6 40.7 73.7 26

27 Foreign direct investment in U.S. 1.5 1.3 0.3 1.7 3.6 5.1 -1.3 1.7 4.8 6.0 27

28 Due to affiliates 22.5 45.7 75.9 99.0 127.7 58.7 3.6 17.4 38.4 37.0 28

29 Other -11.4 -18.7 -54.6 -55.9 -123.8 -65.7 136.2 -96.8 -2.5 30.7 29

30 Proprietors’ net investment -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -4.5 -3.3 30

31 Discrepancy -15.8 -10.7 -14.4 -15.0 -12.9 -43.0 -16.0 13.2 -15.6 6.9 31

(1) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

F.130 Funding Corporations (1)

Billions of dollars

 1 Net acquisition of financial assets 6.3 104.9 115.3 143.1 311.5 105.2 -55.0 -77.7 -19.3 18.9 1

 2 Money market fund shares -2.4 25.9 6.8 80.9 65.1 21.6 120.5 -10.0 -57.5 -87.3 2

 3 Credit market instruments -15.8 13.8 51.1 1.5 106.3 23.2 -131.1 -103.2 27.6 46.6 3

 4 Open market paper -25.7 -0.5 53.5 -3.9 107.6 29.4 -176.8 -87.7 -26.4 61.5 4

 5 Corporate and foreign bonds 9.8 12.8 -3.4 4.5 -3.8 -8.9 45.8 -14.4 54.9 -14.5 5

 6 Other loans and advances 0.2 1.5 1.0 0.9 2.5 2.7 -0.1 -1.2 -0.9 -0.3 6

 7 Miscellaneous assets (2) 24.5 65.2 57.3 60.7 140.2 60.3 -44.5 35.5 10.6 59.6 7

 8 Investment in foreign banking offices 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 8

 9 Investment in brokers and dealers 17.8 51.5 43.0 48.9 137.7 14.7 -22.6 16.9 3.2 26.5 9

10 Net increase in liabilities 6.3 104.9 115.3 143.1 311.5 105.2 -55.0 -77.7 -19.3 18.9 10

11 Credit market instruments 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -2.0 -2.2 11

12 Open market paper 10.5 34.5 49.4 6.0 34.2 -3.5 -125.8 -41.2 -17.3 -14.4 12

13 Corporate bonds 24.4 29.2 30.6 34.0 57.4 1.9 22.2 30.5 15.4 12.2 13

14 Bank loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Miscellaneous liabilities -28.6 41.2 35.4 103.1 219.9 106.8 48.6 -67.0 -17.3 21.1 15

16 Foreign direct investment in U.S. -10.2 2.9 -21.6 21.6 51.0 64.6 59.0 45.0 11.6 61.4 16

17 Securities loaned (net) -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 17

18 Other -12.9 -21.7 -0.3 11.5 152.6 -46.4 -80.5 -109.2 -131.5 -127.2 18

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

(2) Due from affiliated companies.

(3) Loans 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. and

 to American International Group (AIG).
FFA, 1995-2004, December 11, 2008 29

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total U.S. reserves 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 1

 2 U.S. gold stock and SDRs 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 2

 3 Federal govt.: Exchange Stab. Fund 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 3

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

 5 U.S. foreign exchange position 8.8 -6.3 0.7 6.6 -8.7 -0.4 4.3 3.2 -0.9 -3.2 5

 6 Official foreign currency holdings 6.3 -7.6 -2.9 1.5 -3.3 1.9 0.7 0.6 0.6 0.6 6

 7 Treasury 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 7

 8 Monetary authority 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 8

 9 Net IMF position 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 9

10 Federal government 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 10

11 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

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

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

(2) Treasury gold stock.

F.201 SDR Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 3

 4 Asset: Monetary authority 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 4

 5 Discrepancy (seigniorage) -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 36.0 89.9 1

 Held by:

 2 Household sector 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.2 5.4 2

 3 Nonfinancial corporate business 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 3

 4 Money market mutual funds 4.0 3.4 0.1 6.9 11.0 50.3 27.8 -6.8 -36.6 7.0 4

 5 Discrepancy--unallocated assets 25.0 59.4 106.2 -5.7 34.0 76.4 -12.9 21.5 52.8 61.9 5
30 FFA, 1995-2004, December 11, 2008

F.203 Net Interbank Transactions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 10.1 -51.7 -19.6 -31.8 18.1 12.0 -28.0 17.4 -14.5 19.4 1

 2 Monetary authority 1.3 -0.5 6.1 -7.5 22.2 -27.1 1.4 5.6 0.7 -5.4 2

 3 Depository institution reserves -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 3

 4 Vault cash 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 4

 5 Commercial banking 8.8 -51.2 -25.8 -24.3 -4.1 39.1 -29.4 11.9 -15.2 24.9 5

 6 To monetary authority 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 6

 7 To banks in foreign countries 11.1 -52.0 -4.3 -27.1 -5.7 20.8 -45.6 4.2 -10.1 8.8 7

 8 Liabilities, net 10.7 -46.8 -4.2 -32.0 -7.0 21.8 -44.3 13.9 -12.7 14.0 8

 9 U.S.-chartered commercial banks -2.7 -31.1 13.6 23.0 48.4 45.8 -12.3 46.1 43.6 60.7 9

10 Due to foreign affiliates -14.7 -1.9 46.3 23.6 30.0 75.2 22.8 -0.9 109.7 33.8 10

11 - Due from foreign affiliates -12.0 29.2 32.7 0.5 -18.4 29.5 35.1 -47.0 66.0 -26.8 11

12 Foreign banking offices in U.S. 17.3 -11.5 -18.5 -55.7 -51.2 -56.5 -35.4 -32.8 -12.2 -72.2 12

13 Due to foreign affiliates 15.5 10.6 -10.7 33.3 14.9 -14.3 29.7 13.0 21.1 77.0 13

14 - Due from foreign affiliates -1.7 22.1 7.8 88.9 66.1 42.2 65.0 45.8 33.3 149.2 14

15 Bank holding companies -3.8 -4.1 0.8 0.6 -4.1 32.5 3.3 0.6 -44.1 25.6 15

16 Due to foreign affiliates -1.1 -0.2 0.3 -0.1 5.5 30.9 12.2 2.0 -40.2 19.8 16

17 - Due from foreign affiliates 2.7 3.9 -0.4 -0.7 9.6 -1.6 8.8 1.4 3.9 -5.8 17

18 Less: Deposits at foreign banks -0.4 5.2 0.2 -5.0 -1.3 1.0 1.3 9.7 -2.5 5.2 18

19 U.S.-chartered commercial banks -2.5 5.2 1.0 -1.0 -1.3 0.4 1.3 10.2 -2.6 4.9 19

20 Foreign banking offices in U.S. 2.1 -0.0 -0.9 -4.0 -0.0 0.6 -0.0 -0.6 0.0 0.3 20

21 To U.S. banking, net -3.0 -3.4 -19.8 3.8 3.2 17.3 17.2 7.2 -4.3 14.9 21

22 U.S.-chartered commercial banks -7.2 -23.6 -6.6 -2.5 -11.3 27.4 16.5 20.9 -54.9 33.0 22

23 Liabilities -8.0 -6.7 -14.6 6.4 19.4 8.1 1.5 19.1 8.5 33.6 23

24 To foreign offices in U.S. -4.9 -3.0 5.4 2.0 16.4 -9.1 -15.8 10.9 12.9 18.4 24

25 To bank holding companies -0.1 -0.3 -0.2 0.6 -0.3 -0.1 0.1 1.0 -0.1 0.2 25

26 Unallocated -3.0 -3.4 -19.8 3.8 3.2 17.3 17.2 7.2 -4.3 14.9 26

 Less, due from:

27 Foreign offices in U.S. -1.3 6.0 -7.4 -1.3 22.6 7.1 3.4 0.9 7.8 24.2 27

28 Bank holding companies 0.5 10.9 -0.6 10.2 8.0 -26.4 -18.4 -2.6 55.7 -23.6 28

29 Foreign banking offices in U.S. 3.6 9.0 -12.7 -3.3 6.2 16.2 19.2 -10.0 -5.2 5.7 29

30 Due to U.S. banks -1.3 6.0 -7.4 -1.3 22.6 7.1 3.4 0.9 7.8 24.2 30

31 - Due from U.S. banks -4.9 -3.0 5.4 2.0 16.4 -9.1 -15.8 10.9 12.9 18.4 31

32 Bank holding companies 0.6 11.2 -0.4 9.6 8.2 -26.3 -18.6 -3.6 55.8 -23.8 32

33 Due to U.S. banks 0.5 10.9 -0.6 10.2 8.0 -26.4 -18.4 -2.6 55.7 -23.6 33

34 - Due from U.S. banks -0.1 -0.3 -0.2 0.6 -0.3 -0.1 0.1 1.0 -0.1 0.2 34

35 Net change in assets 13.1 -48.3 0.2 -35.6 14.9 -5.3 -45.2 10.2 -10.2 4.6 35

36 Rest of the world 11.1 -52.0 -4.3 -27.1 -5.7 20.8 -45.6 4.2 -10.1 8.8 36

37 Domestic 2.0 3.7 4.5 -8.6 20.6 -26.1 0.4 6.0 -0.1 -4.2 37

38 Monetary authority 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 38

39 Federal Reserve float 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 39

40 Loans to member banks -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 40

41 Commercial banking 1.5 -0.1 6.7 -7.6 22.5 -27.2 0.7 5.0 0.1 -5.3 41

42 Reserves at Federal Reserve -1.0 -4.7 6.8 -4.6 -2.0 -5.0 -2.2 4.5 -0.0 1.1 42

43 Vault cash 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 43

44 Savings insts.: Reserves at Fed. Res. -0.2 -0.4 -0.5 0.1 -0.2 0.1 0.6 0.6 0.5 -0.1 44

45 Discrepancy--floats, etc. -3.0 -3.4 -19.8 3.8 3.2 17.3 17.2 7.2 -4.3 14.9 45
FFA, 1995-2004, December 11, 2008 31

F.204 Checkable Deposits and Currency

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 1

 2 Monetary authority 16.9 23.3 29.8 39.0 108.3 -35.1 47.4 41.9 37.4 37.7 2

 3 Federal government cash and deposits -1.2 1.7 -2.3 0.5 22.3 -22.9 1.5 -2.3 1.3 0.1 3

 4 Due to government-sponsored enterprises 0.0 -0.0 0.0 0.7 -0.4 0.1 -0.6 0.4 -0.5 0.6 4

 5 Deposits due to foreign 0.1 -0.2 0.3 -0.3 -0.1 0.1 -0.2 0.0 0.1 -0.1 5

 6 Currency outside banks 18.0 21.8 31.9 38.1 86.4 -12.5 46.7 43.7 36.5 37.1 6

 7 Commercial banking -45.9 -34.6 -19.8 -33.5 3.4 -85.5 56.5 -57.3 35.7 39.5 7

 8 Federal government deposits -4.7 9.7 -0.9 -14.6 36.4 -33.2 -0.4 -16.4 -0.9 -3.2 8

 9 Deposits due to foreign 0.9 2.8 4.8 -3.1 -0.0 2.0 -4.8 -0.6 3.9 9.2 9

10 Private domestic deposits -42.1 -47.1 -23.7 -15.8 -33.0 -54.3 61.7 -40.3 32.7 33.6 10

11 Savings institutions -2.0 -1.3 -5.3 -0.8 -2.0 1.2 3.2 1.8 5.4 0.5 11

12 Credit unions 2.1 1.6 4.1 6.4 2.3 5.9 3.5 5.7 6.0 7.6 12

13 Net change in assets -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 13

14 Household sector -53.5 -66.5 -49.0 14.5 -46.9 -82.6 68.6 6.4 -42.0 -33.0 14

15 Nonfinancial business 18.1 28.5 15.0 -5.5 41.3 24.1 -63.4 -37.8 56.3 74.8 15

16 Corporate 4.5 9.3 -7.4 -12.0 36.0 15.5 -64.5 -40.9 49.9 -12.5 16

17 Nonfarm noncorporate 13.2 19.3 22.2 4.7 4.7 8.4 0.5 2.6 5.8 86.3 17

18 Farm 0.5 -0.0 0.2 1.7 0.6 0.2 0.6 0.5 0.7 1.0 18

19 State and local governments 3.4 -5.5 4.4 -3.9 3.9 0.1 4.0 5.2 7.0 -6.2 19

20 Federal government -0.0 11.0 -0.5 -16.7 66.2 -65.1 41.1 -17.1 9.3 -31.0 20

21 Rest of the world 9.9 16.7 27.5 10.5 24.3 -1.2 18.8 18.3 14.6 22.4 21

22 Checkable deposits 1.1 2.6 5.1 -3.4 -0.1 2.2 -5.0 -0.6 4.0 9.1 22

23 Currency 8.8 14.2 22.4 13.8 24.4 -3.4 23.8 18.9 10.6 13.3 23

24 Financial sectors 3.0 8.4 18.0 12.8 31.5 2.5 82.0 19.4 48.2 31.3 24

25 Commercial banking 0.2 -0.2 -0.1 0.6 0.3 -0.5 1.1 -0.3 -0.0 1.0 25

26 Savings institutions 1.7 -1.4 1.0 3.2 2.1 -1.5 2.0 3.8 0.0 -3.5 26

27 Credit unions 0.9 0.1 0.6 1.0 17.3 0.3 10.1 1.6 3.2 -1.4 27

28 Property-casualty insurance companies -0.2 -0.9 0.3 -0.2 0.2 -0.6 9.4 12.8 8.6 -8.7 28

29 Life insurance companies -0.5 -0.9 3.8 -2.7 0.0 -0.5 31.9 -1.6 12.0 6.0 29

30 Private pension funds 0.8 0.7 1.4 -0.8 1.3 3.3 -0.8 0.3 0.2 0.1 30

31 State and local govt. retirement funds -2.5 3.3 -2.2 4.7 -0.7 0.7 1.5 1.5 0.8 2.5 31

32 Money market mutual funds -1.0 2.4 2.6 -2.5 -2.3 4.7 3.9 -6.8 -0.7 2.7 32

33 Government-sponsored enterprises 0.2 -0.7 1.3 2.9 7.2 -7.7 2.3 8.1 14.0 10.4 33

34 Finance companies 1.7 1.9 2.1 2.3 2.5 2.6 2.9 3.1 3.3 3.5 34

35 REITs 0.0 2.2 1.1 0.8 0.3 -0.0 1.1 -0.1 3.9 2.9 35

36 Brokers and dealers 1.7 1.9 6.0 3.7 3.3 1.6 16.8 -2.9 2.9 15.7 36

37 Mail float -9.8 -3.6 -6.6 -0.5 -8.2 8.7 -40.5 -2.3 -8.9 27.1 37
32 FFA, 1995-2004, December 11, 2008

F.205 Time and Savings Deposits

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 178.3 237.9 252.0 281.1 215.0 347.2 383.1 375.3 363.2 534.4 1

 2 Small time and savings deposits 112.6 123.9 129.5 189.3 83.8 231.0 314.6 325.4 307.4 281.6 2

 3 Commercial banking 113.9 123.1 148.3 183.7 72.0 211.6 249.4 269.4 231.7 280.6 3

 4 U.S.-chartered commercial banks 113.4 122.8 143.9 186.4 73.0 210.6 240.4 273.6 229.6 279.7 4

 5 Foreign banking offices in U.S. -0.7 0.1 4.4 -3.7 -1.8 -0.4 4.5 -2.3 0.8 -0.7 5

 6 Banks in U.S.-affiliated areas 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 6

 7 Savings institutions -12.9 -11.5 -32.0 -17.4 -0.4 6.4 16.6 20.9 47.2 -14.4 7

 8 Credit unions 11.6 12.3 13.2 23.1 12.3 13.0 48.6 35.1 28.5 15.5 8

 9 Large time deposits (1) 65.6 114.0 122.5 91.8 131.1 116.2 68.5 50.0 55.8 252.9 9

10 Commercial banking 54.8 105.3 107.9 72.1 119.6 92.8 32.7 -2.8 12.8 192.5 10

11 U.S.-chartered commercial banks 42.6 49.5 63.2 34.8 61.6 87.9 -25.2 24.3 3.0 115.6 11

12 Foreign banking offices in U.S. 11.0 55.6 44.7 36.3 57.2 3.4 53.3 -25.1 8.5 75.4 12

13 Banks in U.S.-affiliated areas 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 13

14 Savings institutions 9.2 6.3 11.7 15.7 8.5 19.9 26.8 44.0 32.2 54.0 14

15 Credit unions 1.7 2.4 2.9 4.1 3.1 3.5 9.0 8.7 10.8 6.4 15

16 Net change in assets 178.3 237.9 252.0 281.1 215.0 347.2 383.1 375.3 363.2 534.4 16

17 Household sector 139.1 144.8 146.8 97.0 109.8 284.6 281.0 314.5 303.9 444.1 17

18 Nonfinancial business 7.6 33.5 45.4 69.0 97.3 103.5 15.9 24.6 116.1 41.8 18

19 Corporate 3.3 30.0 34.7 28.2 44.3 35.5 8.8 10.2 71.5 37.7 19

20 Nonfarm noncorporate 4.3 3.5 10.7 40.7 53.1 68.1 7.1 14.5 44.7 4.1 20

21 State and local governments 6.6 10.6 5.8 14.8 14.0 10.6 12.0 8.8 20.3 11.6 21

22 Federal government 0.3 1.4 1.0 1.3 0.7 1.0 4.2 17.1 -25.2 -0.0 22

23 Rest of the world -6.6 10.9 13.1 51.9 3.0 -17.3 0.6 41.2 5.2 34.1 23

24 Financial sectors 31.3 36.6 39.9 47.1 -9.7 -35.2 69.4 -30.9 -57.2 2.9 24

25 Savings institutions -0.2 0.3 -0.4 0.5 -0.1 0.1 0.8 0.4 0.0 0.6 25

26 Credit unions 0.4 -0.7 0.6 6.4 -6.8 -1.1 7.4 1.6 2.5 -0.7 26

27 Private pension funds 8.1 8.9 11.0 29.8 -39.3 -22.9 -36.4 -3.9 3.0 -4.6 27

28 State and local govt. retirement funds 2.0 -2.2 0.1 -0.4 -0.3 -0.1 0.2 -0.1 -0.9 0.6 28

29 Money market mutual funds 20.9 30.4 28.6 12.6 31.5 -11.7 89.3 -23.9 -53.3 0.4 29

30 Government-sponsored enterprises 0.0 0.0 0.0 -1.7 5.2 0.5 8.1 -5.1 -8.5 6.5 30

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

F.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Net issues 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 1

 2 Net purchases 141.2 145.4 155.9 285.4 251.7 232.5 428.5 -16.7 -207.5 -136.5 2

 3 Household sector 99.3 55.5 72.7 104.3 109.5 143.7 153.4 -41.5 -111.5 -56.1 3

 4 Nonfinancial corporate business 22.9 7.7 20.2 38.6 28.4 36.5 110.5 33.8 -36.7 25.3 4

 5 Nonfarm noncorporate business 1.9 2.2 3.7 9.7 8.1 8.7 9.6 2.3 2.3 5.6 5

 6 State and local governments 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.0 3.9 6

 7 Rest of the world 0.8 0.8 0.8 0.8 0.8 3.1 3.9 1.1 2.6 4.1 7

 8 Life insurance companies 6.6 39.1 32.6 17.6 21.4 10.5 31.0 -13.5 -8.3 -30.7 8

 9 Private pension funds 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 9

10 State and local govt. retirement funds 0.9 1.7 2.1 0.3 1.8 1.4 2.2 0.1 -2.1 -1.9 10

11 Funding corporations -2.4 25.9 6.8 80.9 65.1 21.6 120.5 -10.0 -57.5 -87.3 11
FFA, 1995-2004, December 11, 2008 33

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 102.0 38.0 101.0 44.3 128.0 88.0 45.3 96.6 214.4 86.9 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 4.6 5.1 2

 3 Commercial banking (net) 21.8 37.6 69.0 39.9 69.8 39.6 -20.8 85.0 38.0 13.1 3

 4 U.S.-chartered commercial banks 19.6 25.3 43.5 19.7 87.5 -11.1 -9.7 43.1 42.7 14.6 4

 5 Foreign banking offices in U.S. 1.8 12.0 25.6 19.7 -17.9 52.3 -11.0 39.5 -5.7 -0.2 5

 6 Bank holding companies 0.4 0.4 0.0 0.5 0.1 -1.6 -0.1 2.4 0.9 -1.3 6

 7 Savings institutions -0.0 -0.9 -1.9 9.5 21.4 -6.0 5.8 -15.0 20.1 4.7 7

 8 REITs 1.2 2.8 11.2 -9.8 -0.3 -2.5 9.3 14.6 5.5 27.5 8

 9 Brokers and dealers (net) 79.0 -1.5 22.7 4.6 37.1 56.9 51.0 -9.0 146.2 36.5 9

10 Net change in assets 85.2 39.4 58.1 29.9 130.3 -29.1 75.0 70.6 252.6 228.0 10

11 Nonfinancial corporate business 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 11

12 State and local governments -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 7.9 7.7 12

13 Rest of the world 21.0 3.2 20.0 -18.8 8.0 11.4 59.7 39.1 270.1 204.9 13

14 Financial sectors 66.9 2.6 33.9 44.9 123.3 -28.6 26.3 45.7 -25.2 15.0 14

15 Monetary authority 3.3 7.7 2.3 6.5 110.3 -97.3 6.9 -10.8 4.3 -10.8 15

16 Savings institutions 4.8 -1.2 -0.8 5.5 -4.2 4.3 5.4 -0.3 -7.7 -3.2 16

17 Credit unions (net) 0.2 -4.9 2.0 3.4 2.4 -5.3 -1.5 -0.8 -0.1 2.6 17

18 Property-casualty insurance companies 8.1 -2.1 -0.2 7.4 -14.4 10.0 -8.1 14.2 8.5 10.2 18

19 Private pension funds 0.3 4.9 1.2 1.2 1.9 -5.1 -8.9 1.3 1.4 1.6 19

20 State and local govt. retirement funds 3.7 -3.3 0.4 8.9 2.8 -0.5 -5.9 -6.9 -3.6 -3.2 20

21 Money market mutual funds 19.0 16.0 22.8 12.2 1.7 43.5 43.4 47.1 -20.8 -18.7 21

22 Mutual funds 7.1 -2.7 10.3 13.1 9.9 18.8 -28.9 10.9 12.9 18.1 22

23 Government-sponsored enterprises 20.5 -11.8 -4.1 -13.4 12.7 3.0 23.8 -9.1 -20.0 18.3 23

24 Discrepancy--unallocated assets 16.8 -1.3 42.9 14.4 -2.4 117.0 -29.7 26.0 -38.2 -141.1 24

F.208 Open Market Paper

Billions of dollars

 1 Total net issues, all types 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 1

 2 Commercial paper 75.1 101.6 186.8 202.5 232.8 212.2 -188.5 -98.9 -81.7 106.5 2

 3 Nonfinancial corporate business 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 3

 4 Foreign issues in U.S. 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.3 68.7 4

 5 Nonfinancial 5.4 -1.9 -2.3 -1.6 8.2 10.9 -16.4 -0.2 -3.8 -2.2 5

 6 Financial 8.1 13.2 6.0 9.4 8.1 20.8 34.7 59.0 22.0 71.0 6

 7 Financial sectors 43.4 91.3 169.4 170.3 179.2 132.4 -123.7 -99.8 -62.7 22.4 7

 8 Commercial banking -1.4 1.9 6.0 7.8 9.1 1.2 -5.1 -2.3 -6.0 10.8 8

 9 ABS issuers 37.3 45.4 89.4 125.7 139.0 125.0 84.9 -41.7 -36.6 -4.2 9

10 Finance companies -2.9 9.4 24.6 30.7 -2.9 9.7 -77.7 -14.6 -2.7 30.2 10

11 REITs -0.0 0.0 0.0 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 11

12 Funding corporations 10.5 34.5 49.4 6.0 34.2 -3.5 -125.8 -41.2 -17.3 -14.4 12

13 Bankers acceptances (1) -0.8 1.0 -2.7 -9.4 -2.9 -0.7 -3.2 -0.2 -0.2 -0.3 13

14 Net purchases, by sector 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 14

15 Household sector 2.0 4.1 1.3 3.0 4.7 12.4 -0.0 13.1 -4.5 30.2 15

16 Nonfinancial corporate business 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 16

17 State and local governments 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 10.3 10.1 17

18 Rest of the world 18.6 14.4 19.9 33.6 -6.4 9.3 -5.9 18.1 66.2 37.0 18

19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Commercial banking (1) -0.1 0.8 -0.8 -0.2 0.3 0.2 0.0 0.0 0.0 0.0 20

21 Savings institutions 0.0 0.1 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Credit unions -1.6 -0.3 -0.1 0.2 1.5 -0.6 1.2 -0.9 -0.8 0.1 22

23 Life insurance companies -7.3 2.9 17.5 7.5 2.0 -4.5 -11.9 14.7 -18.2 -7.6 23

24 Private pension funds 0.8 6.0 1.5 3.2 6.0 -6.2 -8.2 2.2 -3.2 0.3 24

25 State and local govt. retirement funds 3.7 -3.3 0.4 8.9 2.8 6.9 4.0 -3.2 -6.4 -6.5 25

26 Money market mutual funds 48.4 38.4 62.1 79.1 110.2 96.7 3.4 -38.6 -125.2 -54.1 26

27 Mutual funds 7.1 -3.1 10.6 13.1 9.9 18.8 -28.9 -7.7 13.1 18.0 27

28 Government-sponsored enterprises -0.8 9.6 -1.1 28.6 -32.4 10.7 2.7 -23.5 -3.7 -0.9 28

29 Brokers and dealers 10.9 1.6 0.6 3.8 -2.0 13.2 9.0 -4.7 5.9 -1.3 29

30 Funding corporations -25.7 -0.5 53.5 -3.9 107.6 29.4 -176.8 -87.7 -26.4 61.5 30

(1) Excludes banks’ holdings of own acceptances.
34 FFA, 1995-2004, December 11, 2008

F.209 Treasury Securities

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 1

 2 Savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 2

 3 Other Treasury issues 137.9 144.5 23.7 -54.7 -70.8 -293.2 -10.7 252.5 389.5 361.9 3

 4 Net purchases 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 4

 5 Household sector -17.9 -5.1 -143.1 -69.3 0.0 -209.0 -85.4 -127.2 28.9 27.0 5

 6 Savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 6

 7 Other Treasury issues -22.9 -7.1 -142.6 -69.4 0.2 -207.3 -91.0 -131.8 20.0 26.4 7

 8 Nonfinancial corporate business 6.3 -10.0 -20.2 -3.2 -4.2 -1.3 -1.3 14.5 1.4 0.3 8

 9 Nonfarm noncorporate business 5.3 4.9 3.7 5.7 -0.8 3.0 2.7 0.0 2.1 5.3 9

10 State and local governments -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 9.5 24.9 10

11 Rest of the world 160.5 262.7 123.7 18.7 -32.3 -75.2 19.3 160.9 276.4 366.9 11

12 Monetary authority 13.7 12.7 39.8 21.4 25.8 33.7 40.0 77.7 37.3 51.2 12

13 Commercial banking -11.7 -16.9 8.3 -56.0 14.8 -44.4 -21.9 43.2 2.5 -24.5 13

14 U.S.-chartered commercial banks -40.4 -34.7 -6.1 -42.0 -2.0 -35.0 -31.4 29.9 7.1 -19.2 14

15 Foreign banking offices in U.S. 29.6 18.4 14.4 -10.3 9.7 -0.5 9.8 12.9 -7.0 -5.9 15

16 Bank holding companies -1.2 0.6 -0.1 -3.1 7.9 -7.9 0.4 0.1 1.4 -0.8 16

17 Banks in U.S.-affiliated areas 0.2 -1.3 0.1 -0.7 -0.7 -1.0 -0.6 0.3 1.0 1.4 17

18 Savings institutions -8.7 -1.0 -2.8 -4.4 -0.0 -1.4 2.7 -2.2 3.0 -3.9 18

19 Credit unions -3.8 -0.9 -1.8 -2.5 -3.5 -1.4 -0.8 0.1 1.2 0.1 19

20 Property-casualty insurance companies 0.5 -12.6 2.1 -20.8 -9.7 -8.6 -0.0 9.2 3.5 6.6 20

21 Life insurance companies 1.0 -14.9 1.6 -14.1 -9.3 -4.6 -4.4 24.8 -6.6 6.6 21

22 Private pension funds -0.4 -4.8 2.0 -13.2 16.8 -9.9 -7.6 -3.4 13.3 -4.1 22

23 State and local govt. retirement funds -7.4 4.6 6.2 -6.4 -13.8 -19.8 -24.0 3.8 -10.3 2.4 23

24 Federal government retirement funds 3.2 2.2 1.7 2.3 2.9 2.0 7.2 9.6 5.1 5.4 24

25 Money market mutual funds 3.8 20.3 -4.0 21.7 -4.0 -12.9 46.0 4.7 -10.2 -33.9 25

26 Mutual funds 13.4 -18.0 10.6 4.6 -23.7 10.2 -9.8 17.2 9.3 4.8 26

27 Closed-end funds -1.7 0.1 -1.4 -1.0 -1.2 -0.9 0.1 -2.8 0.6 2.3 27

28 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 0.1 2.8 28

29 Government-sponsored enterprises 6.1 -12.9 7.1 -0.7 5.8 0.6 0.4 12.1 -12.3 -0.6 29

30 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.1 0.4 0.4 1.9 5.2 30

31 Brokers and dealers 61.0 -31.1 7.5 21.2 -58.4 39.4 13.1 -13.7 41.7 -82.4 31

 Memo:

32 Federal government borrowing (1) 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 32

(1) Total issues of Treasury securities (table F.209, line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 12).
FFA, 1995-2004, December 11, 2008 35

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 579.1 122.3 1

 2 Budget agencies 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 2

 3 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 3

 4 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 330.6 47.9 4

 5 Net purchases 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 579.1 122.3 5

 6 Household sector 28.2 102.3 54.3 70.6 83.4 38.6 -103.3 -142.2 148.0 29.8 6

 7 Nonfinancial corporate business 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -4.8 0.1 7

 8 State and local governments -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 22.5 21.9 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 17.6 26.8 30.3 11.1 63.4 141.9 92.0 127.1 12.3 178.2 10

11 Monetary authority -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 11

12 Commercial banking 38.7 28.2 75.5 92.0 36.4 22.3 55.6 140.5 84.2 95.0 12

13 U.S.-chartered commercial banks 23.4 15.3 60.4 81.7 29.4 18.2 73.7 121.1 85.1 89.7 13

14 Foreign banking offices in U.S. 14.3 12.4 12.5 5.2 4.9 0.4 -22.0 10.9 -6.5 -1.2 14

15 Bank holding companies -0.2 0.3 0.6 1.1 -1.3 -0.5 1.4 4.5 0.9 1.9 15

16 Banks in U.S.-affiliated areas 1.3 0.2 2.0 3.9 3.3 4.3 2.5 3.9 4.7 4.7 16

17 Savings institutions 4.7 -8.5 -0.8 -11.6 3.4 -6.7 21.0 14.7 22.6 -82.3 17

18 Credit unions 4.9 4.9 0.4 7.3 2.9 -0.4 19.6 -1.5 15.2 -1.1 18

19 Property-casualty insurance companies 2.3 2.8 1.7 -1.2 5.9 8.6 10.1 19.0 2.2 -3.3 19

20 Life insurance companies 8.7 1.3 -3.0 -9.6 7.0 11.0 18.1 77.4 18.0 8.2 20

21 Private pension funds 1.6 -11.3 6.1 -17.2 39.6 -32.9 5.1 -19.4 38.3 11.3 21

22 State and local govt. retirement funds 23.2 5.5 18.4 19.1 22.9 49.9 1.9 11.8 42.5 23.7 22

23 Federal government retirement funds 0.1 0.1 0.1 0.2 -0.0 0.1 1.6 1.9 0.5 -0.5 23

24 Money market mutual funds 13.7 11.0 -5.5 76.1 18.6 -7.0 141.5 8.7 -4.6 -61.1 24

25 Mutual funds 5.5 33.1 8.9 21.6 36.2 12.6 84.7 54.0 25.2 15.2 25

26 Government-sponsored enterprises 60.0 65.8 67.6 158.4 172.9 145.0 190.1 114.9 85.1 -147.8 26

27 ABS issuers 20.2 -6.0 -21.8 23.3 38.2 8.5 33.6 75.4 83.0 -4.4 27

28 REITs -0.2 3.2 9.0 -8.1 1.4 0.5 7.0 9.7 -2.9 15.8 28

29 Brokers and dealers 9.0 1.2 -4.8 0.5 15.0 -2.3 14.1 14.1 -8.1 23.5 29

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 32.
36 FFA, 1995-2004, December 11, 2008

F.211 Municipal Securities and Loans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities -57.6 -6.5 56.9 84.2 54.4 23.6 122.8 159.4 137.6 130.5 1

 2 State and local governments -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.4 120.0 115.1 2

 3 Short-term (1) 1.2 6.3 8.3 -6.3 2.6 1.4 23.8 25.2 10.4 -5.9 3

 4 Long-term -62.1 -22.0 37.3 72.9 36.3 15.1 81.6 118.2 109.6 121.0 4

 5 Nonprofit organizations (2) 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.9 14.1 10.3 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) 3.1 3.1 4.2 5.8 5.1 1.4 3.5 3.1 3.5 5.1 6

 7 Net change in assets -57.6 -6.5 56.9 84.2 54.4 23.6 122.8 159.4 137.6 130.5 7

 8 Household sector -60.5 -40.5 21.5 1.1 29.4 4.8 49.9 97.6 25.4 38.6 8

 9 Nonfinancial corporate business -19.9 -5.8 -3.6 -1.6 -0.7 6.9 -2.6 2.8 3.3 -3.6 9

10 Nonfarm noncorporate business 0.6 0.4 0.5 -0.4 -0.1 -0.3 1.1 -0.1 -0.7 1.7 10

11 State and local governments -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.3 0.3 11

12 Rest of the world 1.0 1.0 1.0 1.0 1.0 0.2 0.0 3.5 8.0 6.5 12

13 Commercial banking -4.2 0.9 2.4 8.2 5.9 3.4 6.1 1.5 11.0 8.1 13

14 Savings institutions -0.0 0.1 0.0 0.4 0.5 0.2 1.3 1.0 0.8 0.8 14

15 Property-casualty insurance companies 7.0 14.4 2.6 16.5 -9.1 -14.9 -10.3 9.2 41.2 43.6 15

16 Life insurance companies -0.9 1.5 0.1 1.7 1.7 -1.0 -0.4 1.2 6.2 4.0 16

17 State and local govt. retirement funds 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -2.6 17

18 Money market mutual funds 14.3 16.8 22.5 25.8 17.6 34.1 34.2 1.8 13.6 21.8 18

19 Mutual funds 3.2 3.1 6.5 22.8 -3.2 -9.0 22.6 24.3 12.9 4.1 19

20 Closed-end funds 4.8 1.0 0.3 1.3 9.0 -2.0 7.0 11.3 3.2 -0.1 20

21 Government-sponsored enterprises 2.7 4.3 0.5 6.5 3.6 2.8 6.2 4.0 5.0 0.3 21

22 Brokers and dealers -2.7 -1.9 2.4 -0.1 -1.2 -0.7 7.7 2.0 3.8 7.1 22

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).

F.212 Corporate and Foreign Bonds

Billions of dollars

 1 Net issues 342.3 336.5 370.7 490.6 385.5 358.2 635.0 558.3 667.3 833.6 1

 2 Nonfinancial corporate business 104.2 128.0 181.1 214.9 225.9 164.0 343.4 133.4 152.2 75.5 2

 3 Rest of the world (1) 56.9 66.6 59.6 28.8 7.9 21.2 -18.5 31.6 28.7 85.8 3

 4 Financial sectors 181.2 141.9 130.0 246.8 151.7 173.0 310.1 393.4 486.4 672.3 4

 5 Commercial banking 18.5 7.8 23.7 27.6 20.4 32.6 37.0 22.0 46.2 59.0 5

 6 Savings institutions -0.0 -0.4 0.1 -0.2 0.2 3.5 -2.6 -0.2 1.7 2.5 6

 7 ABS issuers (net) (3) 90.5 69.2 48.0 132.4 14.7 44.4 179.7 262.9 285.2 441.5 7

 8 Finance companies 52.6 36.8 4.7 24.2 64.7 72.9 68.1 64.0 107.9 74.1 8

 9 REITs 0.2 1.3 14.8 21.7 11.7 1.9 4.4 15.9 23.6 67.6 9

10 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 10

11 Funding corporations 24.4 29.2 30.6 34.0 57.4 1.9 22.2 30.5 15.4 12.2 11

12 Net purchases 342.3 336.5 370.7 490.6 385.5 358.2 635.0 558.3 667.3 833.6 12

13 Household sector 91.7 68.1 50.2 34.8 -58.8 99.1 44.6 200.2 -91.3 90.7 13

14 State and local governments 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 7.1 6.9 14

15 Rest of the world (2) 49.2 70.8 67.4 105.2 143.4 168.2 195.4 147.5 220.8 259.5 15

16 Commercial banking 8.0 1.1 26.0 35.7 33.9 56.0 97.0 -3.2 43.4 82.4 16

17 Savings institutions -8.2 -9.9 -9.9 29.9 23.3 -2.5 -25.6 -4.0 -8.0 -12.7 17

18 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 2.3 0.6 18

19 Property-casualty insurance companies 12.7 18.3 18.9 11.6 10.0 6.4 8.9 2.4 20.0 26.4 19

20 Life insurance companies 90.7 79.2 85.7 82.6 41.2 47.9 119.5 105.7 170.4 145.9 20

21 Private pension funds 14.0 3.3 34.0 20.4 43.1 -76.3 -23.1 11.4 20.9 -7.7 21

22 State and local govt. retirement funds 10.1 22.2 33.1 35.1 30.4 4.2 -34.6 -62.4 -9.9 6.0 22

23 Federal government retirement funds 0.1 0.1 0.0 0.1 -0.0 0.0 0.9 1.2 0.4 -0.3 23

24 Money market mutual funds 6.4 2.4 12.5 45.8 42.6 27.3 42.3 5.6 30.5 2.3 24

25 Mutual funds 23.1 33.0 40.9 62.5 26.3 -10.6 65.4 50.4 78.5 64.9 25

26 Closed-end funds 5.4 1.9 -0.0 4.7 1.8 -2.7 -3.8 0.1 31.6 8.9 26

27 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 0.6 1.0 27

28 Government-sponsored enterprises 9.9 8.1 6.0 24.6 28.8 23.3 41.4 50.3 50.3 137.4 28

29 REITs 0.8 1.4 2.1 -0.4 -0.1 -0.4 2.3 2.4 8.4 17.2 29

30 Brokers and dealers 11.7 13.1 5.7 -17.9 11.9 17.2 47.3 32.1 36.2 18.7 30

31 Funding corporations 9.8 12.8 -3.4 4.5 -3.8 -8.9 45.8 -14.4 54.9 -14.5 31

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

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

(3) Net issuance less net acquisition of corporate bonds held as assets.
FFA, 1995-2004, December 11, 2008 37

F.213 Corporate Equities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 1.5 14.7 -46.4 -113.3 1.7 5.0 98.6 47.1 141.9 70.4 1

 2 Nonfinancial corporate business -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -41.4 -41.1 -124.4 2

 3 Rest of the world (2) 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 3

 4 Financial sectors -5.6 -20.8 -26.6 0.9 -2.2 16.5 37.6 71.5 64.9 110.1 4

 5 Commercial banking -8.7 -14.3 -27.7 -11.2 -10.2 -12.5 -8.1 -10.7 -2.1 17.6 5

 6 Savings institutions 0.0 0.0 0.0 0.0 0.2 -0.4 0.3 0.5 2.0 0.6 6

 7 Property-casualty insurance companies -2.2 -4.8 -13.7 -4.7 -7.8 -4.5 0.5 6.2 4.1 -4.0 7

 8 Life insurance companies -3.6 -8.8 -4.0 -4.7 -6.0 -0.8 -0.9 -6.5 -3.9 -17.3 8

 9 Closed-end funds 8.0 0.3 -11.2 -6.8 -4.8 -5.5 1.9 18.1 43.7 32.7 9

10 Exchange-traded funds 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 10

11 REITs 8.7 12.3 32.5 19.8 6.6 2.0 6.1 8.4 13.3 21.5 11

12 Brokers and dealers -8.1 -6.5 -5.9 2.5 7.6 -4.2 6.7 10.2 -8.0 2.6 12

13 Net purchases 1.5 14.7 -46.4 -113.3 1.7 5.0 98.6 47.1 141.9 70.4 13

14 Household sector -69.0 -156.5 -217.3 -287.7 -157.2 -638.0 -490.5 -187.6 -83.0 -266.6 14

15 State and local governments 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -17.0 -4.2 15

16 Rest of the world (3) 3.5 -3.5 53.2 27.4 104.5 199.7 134.3 54.4 5.2 25.0 16

17 Commercial banking 2.1 1.8 0.6 1.3 2.0 0.3 0.2 -0.6 2.4 -0.3 17

18 Savings institutions 0.7 0.6 0.2 1.5 -0.7 0.4 3.2 2.0 -1.0 -1.1 18

19 Property-casualty insurance companies -0.9 -7.1 2.6 -5.4 -1.7 0.3 -0.7 -1.6 -3.4 -3.9 19

20 Life insurance companies 28.2 44.5 72.0 82.5 116.9 111.3 70.2 52.7 45.5 51.5 20

21 Private pension funds -91.0 -91.5 -150.7 -31.5 -180.4 62.8 106.5 -61.5 -24.1 11.2 21

22 State and local govt. retirement funds 18.2 18.2 9.4 -28.2 -6.2 11.6 115.1 85.2 35.4 1.9 22

23 Federal government retirement funds 2.6 4.2 4.4 4.0 4.4 5.2 -0.6 8.2 17.5 9.1 23

24 Mutual funds 87.4 193.0 166.8 143.3 136.4 193.1 109.8 31.4 136.8 158.5 24

25 Closed-end funds -0.5 -2.6 -10.0 -11.8 -14.5 0.1 -1.3 9.4 8.3 21.7 25

26 Exchange-traded funds 0.4 1.1 3.4 6.0 12.2 42.4 31.0 41.6 15.1 52.6 26

27 Brokers and dealers 7.7 -1.9 2.4 -6.0 7.7 9.6 17.3 3.2 4.1 15.2 27

(1) Excludes mutual fund shares shown on table F.214.

(2) Net purchases of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

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

F.214 Mutual Fund Shares (1)

Billions of dollars

 1 Net issues 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 1

 2 Net purchases 147.4 237.6 265.1 279.5 191.2 237.6 204.9 181.1 288.6 298.2 2

 3 Household sector 46.7 163.0 204.7 196.1 72.1 66.7 161.1 92.9 274.4 216.4 3

 4 Nonfinancial corporate business 4.6 8.7 -6.4 6.7 7.4 3.5 4.4 0.9 11.0 1.4 4

 5 State and local governments -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -5.2 -1.3 5

 6 Rest of the world 12.3 13.8 13.1 13.8 7.1 -9.2 -16.7 -1.5 26.2 32.7 6

 7 Commercial banking 0.3 0.3 0.8 -0.4 2.3 2.5 7.8 1.7 -6.2 -0.9 7

 8 Credit unions 0.2 -0.3 -0.2 1.2 -1.1 -0.3 1.5 -0.2 0.5 -0.9 8

 9 Property-casualty insurance companies 0.3 0.3 0.4 0.3 0.1 0.4 0.4 0.5 0.7 0.5 9

10 Life insurance companies 3.9 4.5 7.2 9.4 10.0 5.6 2.1 2.6 0.5 12.8 10

11 Private pension funds 72.0 45.7 55.2 53.6 99.4 117.3 18.2 59.9 -3.8 36.1 11

12 State and local govt. retirement funds 10.7 2.2 8.5 12.0 2.1 49.9 25.8 22.2 -9.5 1.5 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
38 FFA, 1995-2004, December 11, 2008

F.215 Bank Loans Not Elsewhere Classified

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Total loans by commercial

 1 banking, flow of funds basis 240.1 174.5 236.5 255.3 206.3 371.8 71.3 225.2 215.2 442.4 1

 - Loans elsewhere classified:

 2 Open market paper -0.1 0.8 -0.8 -0.2 0.3 0.2 0.0 0.0 0.0 0.0 2

 3 Mortgages 77.5 55.2 99.9 91.7 158.4 164.6 129.8 268.5 197.5 339.8 3

 4 Consumer credit 43.6 25.1 -12.4 -3.1 -4.2 43.3 17.4 34.1 52.8 34.9 4

 5 Security credit 4.6 1.3 21.7 20.3 -18.0 50.4 0.0 2.8 23.0 -5.1 5

 6 = Banking sector total bank loans n.e.c. 114.7 92.1 128.2 146.5 69.8 113.3 -75.8 -80.2 -58.1 72.7 6

 7 U.S.-chartered commercial banks 77.0 58.2 108.1 145.6 93.3 98.6 -61.5 -58.1 -39.8 65.2 7

 8 Foreign banking offices in U.S. 35.4 32.2 19.2 -1.7 -22.4 14.6 -19.1 -18.6 -23.6 8.2 8

 9 Bank holding companies 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 9

10 Banks in U.S.-affiliated areas 1.8 1.4 0.9 0.9 0.5 1.1 4.5 -4.3 0.3 1.8 10

11 + Loans from Federal Reserve banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 = Total bank loans n.e.c. 114.7 92.1 128.2 146.5 69.8 113.3 -75.8 -80.2 -58.1 72.7 12

13 Net change in liabilities 114.7 92.1 128.2 146.5 69.8 113.3 -75.8 -80.2 -58.1 72.7 13

14 Nonfinancial sectors 112.2 79.5 114.9 114.2 77.8 106.5 -94.5 -101.2 -79.5 14.7 14

15 Household sector 17.4 0.5 8.0 5.5 -12.5 0.1 -21.7 -22.6 11.3 -17.4 15

16 Corporate business 74.5 40.4 51.1 76.2 40.0 43.8 -109.6 -108.2 -99.2 -1.2 16

17 Nonfarm noncorporate business 10.7 28.9 43.8 24.8 50.7 48.5 44.0 25.1 11.3 27.2 17

18 Farm business 1.1 0.6 3.5 1.2 -0.9 2.7 -0.0 -0.9 -0.4 2.2 18

19 Rest of the world 8.5 9.1 8.5 6.6 0.5 11.4 -7.3 5.3 -2.5 3.8 19

20 Foreign official institutions 0.4 0.3 -0.8 0.7 0.2 0.6 0.8 0.8 -0.6 1.0 20

21 Foreign banks 2.1 3.4 -0.5 -0.7 -3.2 3.4 -7.4 -0.8 3.8 4.5 21

22 Other foreign 5.9 5.4 9.8 6.6 3.5 7.4 -0.7 5.3 -5.7 -1.7 22

23 Financial sectors 2.5 12.6 13.3 32.3 -7.9 6.9 18.7 21.1 21.4 58.1 23

24 Savings institutions 5.2 1.4 3.5 10.3 -15.7 7.4 1.5 4.2 15.2 26.5 24

25 Finance companies -1.7 8.5 -0.0 6.0 13.8 3.6 20.5 16.8 5.8 30.0 25

26 REITs -1.0 2.7 9.9 16.0 -6.1 -4.2 -3.3 0.1 0.3 1.5 26

27 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28
FFA, 1995-2004, December 11, 2008 39

F.216 Other Loans and Advances

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total other loans and advances 39.7 59.4 97.0 153.4 136.9 137.8 27.3 32.0 39.3 128.6 1

 2 U.S. government loans -13.5 2.6 5.9 -2.4 -7.0 -2.7 -7.8 -0.5 -1.9 -3.0 2

 3 Liab.: Household sector -9.7 9.3 -2.4 -0.4 -0.2 -1.2 -1.2 -0.9 -0.6 -0.9 3

 4 Nonfinancial corporate business -1.7 -0.6 0.4 -0.3 -0.3 -0.0 -1.3 1.0 0.8 0.3 4

 5 Nonfarm noncorporate business 0.2 0.0 4.7 -0.5 -0.1 -1.6 -4.0 1.0 0.2 1.3 5

 6 Farm business -1.7 -0.5 -0.4 -0.4 0.0 0.2 -0.3 -0.2 -0.2 -0.3 6

 7 State and local governments 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 7

 8 Rest of the world -0.8 -0.7 -1.6 -1.0 -4.8 -0.6 -1.1 -1.9 -2.1 -3.7 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 9

10 Foreign loans to U.S. corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 10

11 Liab.: Nonfinancial corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 11

 Customers liability on acceptances

12 outstanding (Commercial banking asset) -0.6 1.0 -2.8 -9.3 -3.1 -0.7 -2.9 -0.0 -0.2 -0.4 12

13 Liab.: Nonfinancial corporate business -0.8 -0.7 -2.6 -4.3 -2.2 -0.0 -0.3 0.3 -0.2 -0.4 13

14 Rest of the world 0.3 1.8 -0.2 -5.0 -0.9 -0.7 -2.6 -0.4 0.0 0.1 14

15 Savings institution loans to business 2.5 3.0 3.1 5.3 6.5 8.7 3.6 3.3 10.1 1.3 15

16 Liab.: Nonfinancial corporate business 1.2 1.5 1.6 2.7 3.2 4.3 1.8 1.7 5.0 0.7 16

17 Nonfarm noncorporate business 1.2 1.5 1.6 2.7 3.2 4.3 1.8 1.7 5.0 0.7 17

18 Policy loans (Household liability) 10.5 4.5 3.2 0.1 -5.1 2.8 2.2 1.0 -0.7 1.6 18

19 Asset: Federal government 0.1 0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 19

20 Life insurance companies 10.4 4.5 3.2 0.1 -5.0 2.9 2.2 1.0 -0.7 1.6 20

21 Govt.-sponsored enterprises loans (1) 7.2 29.4 35.4 93.5 108.1 45.3 28.3 8.9 31.1 73.5 21

22 Liab.: Household sector (SLMA) -0.1 0.0 -0.2 -0.1 0.1 -0.3 -0.1 0.1 -0.1 -0.3 22

23 Noncorporate business (FCS) 2.5 0.1 0.0 0.6 0.9 1.5 0.0 0.6 -0.3 -1.7 23

24 Farm business (FCS) 1.4 1.3 0.0 2.7 0.0 1.5 2.9 1.4 0.3 1.5 24

25 Commercial banks (FHLB and SLMA) 6.2 2.3 19.1 46.9 40.6 26.8 24.2 30.2 8.6 8.8 25

26 Savings institutions (FHLB and SLMA) -2.6 24.5 16.2 42.1 63.5 16.3 -0.9 -27.4 17.6 60.0 26

27 Credit unions (FHLB) -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 27

28 Life insurance companies (FHLB) -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 28

29 Securitized loans held by ABS issuers 5.9 8.1 24.4 23.8 -3.3 7.2 18.5 -3.3 -1.1 1.4 29

30 Liab.: Nonfinancial corporate business 5.9 8.1 24.4 23.8 -3.3 7.2 18.5 -3.3 -1.1 1.4 30

31 Finance company loans to business 26.7 3.1 -0.6 36.8 54.2 61.1 -16.0 3.8 -2.3 9.8 31

32 Liab.: Nonfinancial corporate business 24.0 2.8 -0.5 33.1 48.8 55.0 -14.4 3.4 -2.1 8.8 32

33 Nonfarm noncorporate business 2.7 0.3 -0.1 3.7 5.4 6.1 -1.6 0.4 -0.2 1.0 33

34 Loans to nonfinancial corporate business (2) 1.0 3.8 11.1 6.6 9.3 18.3 3.1 8.7 5.3 38.1 34

35 Asset: Household sector 0.1 -0.1 0.1 -0.0 0.4 1.3 0.7 0.2 0.3 2.8 35

36 Life insurance companies 0.0 0.0 1.1 1.9 0.3 1.1 0.7 1.1 0.6 1.9 36

37 Mutual funds 0.2 0.8 3.4 2.7 2.9 4.3 -7.3 0.5 -1.1 9.6 37

38 ABS issuers 0.1 0.2 2.0 1.8 3.2 6.9 7.8 9.4 6.2 18.9 38

39 Brokers and dealers 0.3 1.4 3.5 -0.7 0.1 2.1 1.3 -1.3 0.1 5.2 39

40 Funding corporations 0.2 1.5 1.0 0.9 2.5 2.7 -0.1 -1.2 -0.9 -0.3 40

(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.
40 FFA, 1995-2004, December 11, 2008

F.217 Total Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in mortgages 187.5 269.6 313.7 486.8 578.4 561.5 708.4 901.8 999.5 1249.3 1

 2 Home 167.9 223.6 234.8 356.7 428.3 427.2 551.8 756.6 801.9 1022.3 2

 3 Multifamily residential 6.4 12.3 12.0 33.6 41.0 30.0 41.9 38.5 71.9 53.1 3

 4 Commercial 11.5 31.0 62.9 92.0 105.0 106.8 110.9 99.8 127.0 171.1 4

 5 Farm 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -1.3 2.7 5

 6 Net borrowing 187.5 269.6 313.7 486.8 578.4 561.5 708.4 901.8 999.5 1249.3 6

 7 Household sector 144.5 210.2 214.9 312.1 389.8 399.7 528.4 732.4 855.7 949.8 7

 8 Nonfinancial business 37.7 51.6 83.9 150.0 181.8 156.9 177.7 158.5 135.6 273.6 8

 9 Corporate 8.2 10.7 32.2 1.2 42.6 21.9 52.7 30.6 61.3 54.1 9

10 Nonfarm noncorporate 27.8 38.2 47.7 144.2 135.1 137.5 121.2 121.0 75.5 216.7 10

11 Farm 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -1.3 2.7 11

12 Federal government 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 REITs 5.3 7.9 14.9 24.8 6.9 4.9 2.2 11.0 8.2 25.9 13

14 Net change in assets 187.5 269.6 313.7 486.8 578.4 561.5 708.4 901.8 999.5 1249.3 14

15 Household sector -7.2 -7.5 -7.1 -4.5 7.1 1.9 5.2 7.3 5.2 7.7 15

16 Nonfinancial corporate business 1.6 -3.6 25.9 -13.0 -26.0 2.3 3.1 2.9 2.2 14.8 16

17 Nonfarm noncorporate business -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 17

18 State and local governments 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 8.5 8.3 18

19 Federal government -13.5 -7.2 -4.5 -0.8 -0.1 -0.9 -1.1 0.5 -2.5 1.6 19

20 Commercial banking 77.5 55.2 99.9 91.7 158.4 164.6 129.8 268.5 197.5 339.8 20

21 Savings institutions (1) 0.6 31.6 3.5 12.1 24.1 54.9 35.1 23.0 89.6 186.8 21

22 Credit unions 4.4 9.5 10.1 10.8 14.1 13.8 16.4 18.2 23.2 30.6 22

23 Property-casualty insurance companies -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 23

24 Life insurance companies -2.6 -5.0 -1.3 6.8 15.7 5.2 7.1 7.0 10.9 12.4 24

25 Private pension funds 0.8 0.7 0.8 -0.2 1.8 0.2 -2.2 0.6 -0.1 -0.2 25

26 State and local govt. retirement funds 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.3 26

27 Government-sponsored enterprises (1) 6.3 -6.4 -4.7 7.6 -5.0 22.2 33.2 59.8 101.7 7.5 27

28 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 330.6 47.9 28

29 ABS issuers 17.5 37.5 62.9 129.9 73.6 66.1 122.0 110.7 172.7 432.1 29

30 Finance companies 2.1 21.2 1.9 32.3 34.4 42.6 20.3 72.3 39.7 105.8 30

31 REITs 0.8 -0.3 9.1 3.4 0.1 -5.4 -0.7 10.0 20.7 54.5 31

(1) FHLB loans to savings institutions are included in other loans and advances.
FFA, 1995-2004, December 11, 2008 41

F.218 Home Mortgages (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net borrowing 167.9 223.6 234.8 356.7 428.3 427.2 551.8 756.6 801.9 1022.3 1

 2 Household sector 154.0 205.5 216.1 301.6 380.0 385.7 506.9 706.4 859.7 934.8 2

 3 Nonfinancial corporate business -0.1 1.1 0.3 1.4 2.1 2.0 2.1 0.7 1.9 4.7 3

 4 Nonfarm noncorporate business 13.9 17.0 18.4 53.7 46.2 39.5 42.8 49.5 -59.7 82.8 4

 5 Net change in assets 167.9 223.6 234.8 356.7 428.3 427.2 551.8 756.6 801.9 1022.3 5

 6 Household sector -8.7 -8.9 -8.9 -4.9 7.1 7.1 6.8 6.1 6.1 6.1 6

 7 Nonfinancial corporate business 1.1 -9.3 5.3 -2.7 -6.9 1.2 1.5 1.9 1.2 13.8 7

 8 Nonfarm noncorporate business -0.8 -0.5 -0.6 2.7 -0.9 -0.2 1.2 -0.2 0.0 1.6 8

 9 State and local governments 3.2 2.3 3.0 -0.8 2.3 -0.6 -0.4 -2.7 4.3 4.2 9

10 Federal government -4.9 -3.0 -2.1 -0.3 -0.4 -0.7 -0.6 -0.9 -0.9 -0.5 10

11 Commercial banking 56.7 31.0 68.0 51.6 83.0 86.1 58.4 198.8 128.7 225.2 11

12 Savings institutions 4.7 31.4 7.0 12.8 14.7 46.0 26.2 10.7 71.8 171.4 12

13 Credit unions 4.4 9.5 10.1 10.8 14.1 13.8 16.4 18.2 23.2 30.6 13

14 Life insurance companies 0.3 -1.9 0.3 -0.6 0.1 -0.8 0.4 -1.1 0.3 0.8 14

15 Private pension funds 0.7 0.6 0.8 0.1 0.7 1.1 -3.1 -1.8 -1.1 -0.2 15

16 State and local govt. retirement funds 0.5 0.6 0.6 1.5 1.0 -1.1 -0.3 0.7 -0.3 -1.9 16

17 Government-sponsored enterprises 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 89.7 -6.7 17

18 Agency- and GSE-backed mortgage pools 93.8 135.4 109.3 182.1 264.6 190.9 322.9 315.2 303.5 45.0 18

19 ABS issuers 10.8 21.6 38.4 68.1 31.8 31.8 77.7 80.3 122.2 380.0 19

20 Finance companies -1.2 20.5 2.4 29.8 28.0 39.7 22.8 75.9 34.6 101.8 20

21 REITs 1.9 1.1 6.0 0.8 -0.7 -3.3 0.2 9.9 18.4 51.0 21

 Memo:

22 Home equity loans included above (2) 15.7 25.1 34.4 13.0 24.4 73.6 31.0 61.8 92.7 182.2 22

23 Commercial banking 10.3 13.8 20.1 2.9 12.7 45.5 23.6 44.7 62.7 117.6 23

24 Savings institutions 1.1 1.7 3.2 0.5 3.7 13.1 5.1 0.6 17.1 25.6 24

25 Credit unions 2.0 2.6 3.5 0.7 3.7 7.3 4.2 3.0 3.7 12.2 25

26 ABS issuers 0.6 0.8 1.3 2.1 1.5 2.1 1.9 2.6 1.1 7.1 26

27 Finance companies 1.6 6.1 6.3 6.7 2.8 5.7 -3.9 10.9 8.0 19.7 27

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

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

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing 6.4 12.3 12.0 33.6 41.0 30.0 41.9 38.5 71.9 53.1 1

 2 Nonfinancial corporate business 1.0 1.0 1.1 1.1 1.3 1.4 1.4 1.5 1.6 1.8 2

 3 Nonfarm noncorporate business 3.6 8.8 5.9 24.3 37.8 25.5 38.9 35.4 69.7 46.6 3

 4 Federal government 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 1.8 2.6 4.9 8.2 1.9 3.1 1.6 1.7 0.6 4.7 5

 6 Net change in assets 6.4 12.3 12.0 33.6 41.0 30.0 41.9 38.5 71.9 53.1 6

 7 Household sector 0.3 -0.1 -0.1 -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.8 0.7 0.6 -0.3 -0.2 -0.1 0.1 0.0 0.0 0.0 8

 9 Nonfarm noncorporate business -0.7 -0.5 -0.5 2.6 -0.8 -0.2 1.2 -0.2 0.0 1.6 9

10 State and local governments 0.6 1.8 0.6 4.5 1.8 -0.5 -0.3 -2.1 3.4 3.3 10

11 Federal government -4.3 -2.9 -0.9 -0.3 -0.0 0.3 -0.2 0.5 0.2 0.4 11

12 Commercial banking 4.6 2.9 4.2 5.0 13.0 10.1 7.0 9.3 10.3 14.2 12

13 Savings institutions -2.4 -0.4 -2.0 -2.5 2.3 1.9 3.3 4.1 9.3 9.6 13

14 Life insurance companies 0.9 2.0 -0.3 1.1 1.1 0.9 2.0 1.2 1.7 1.9 14

15 Private pension funds -0.0 0.0 -0.0 -0.1 0.2 0.0 0.3 0.5 0.3 0.0 15

16 State and local govt. retirement funds 0.2 0.2 0.2 1.3 0.9 -1.0 -0.2 0.3 -0.2 -1.6 16

17 Government-sponsored enterprises 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 17

18 Agency- and GSE-backed mortgage pools 4.5 5.6 5.3 10.5 9.2 8.5 15.6 12.9 26.5 2.9 18

19 ABS issuers 2.1 3.9 4.7 12.9 8.7 5.4 5.8 5.4 7.9 6.4 19

20 Finance companies 1.3 0.0 0.8 -1.0 0.2 0.4 -0.5 -1.4 0.0 -0.1 20

21 REITs -0.6 -0.4 0.9 0.1 0.3 -0.3 -0.4 -0.5 0.3 0.1 21
42 FFA, 1995-2004, December 11, 2008

F.220 Commercial Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net borrowing 11.5 31.0 62.9 92.0 105.0 106.8 110.9 99.8 127.0 171.1 1

 2 Household sector -9.6 4.7 -1.2 10.5 9.8 14.0 21.5 25.9 -3.9 15.0 2

 3 Nonfinancial corporate business 7.2 8.6 30.8 -1.3 39.2 18.6 49.2 28.5 57.8 47.6 3

 4 Nonfarm noncorporate business 10.2 12.4 23.3 66.2 51.1 72.4 39.5 36.1 65.5 87.3 4

 5 REITs 3.6 5.3 10.0 16.6 5.0 1.8 0.6 9.3 7.6 21.2 5

 6 Net change in assets 11.5 31.0 62.9 92.0 105.0 106.8 110.9 99.8 127.0 171.1 6

 7 Household sector 0.6 0.7 0.7 0.9 0.8 1.7 -0.7 0.7 0.6 0.6 7

 8 Nonfinancial corporate business 1.2 5.1 20.0 -10.0 -19.0 1.1 1.5 1.0 1.0 1.0 8

 9 Nonfarm noncorporate business -0.5 -0.4 -0.4 1.9 -0.6 -0.2 0.8 -0.2 0.0 1.1 9

10 State and local governments -0.5 -0.2 0.2 2.5 0.4 -0.1 -0.1 -0.4 0.7 0.7 10

11 Federal government -3.8 -0.9 -0.7 0.1 0.6 -0.4 -0.1 1.2 -1.6 1.8 11

12 Commercial banking 15.0 20.2 25.7 33.2 60.0 66.2 63.0 58.3 58.6 98.1 12

13 Savings institutions -1.8 0.6 -1.5 1.8 7.1 6.9 5.6 8.2 8.4 5.9 13

14 Property-casualty insurance companies -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 14

15 Life insurance companies -4.0 -5.6 -1.5 5.2 13.8 4.7 4.6 6.7 8.9 10.1 15

16 Private pension funds 0.1 0.1 0.1 -0.2 0.9 -0.9 0.6 2.0 0.8 0.0 16

17 State and local govt. retirement funds 0.0 -0.0 -0.0 2.0 1.3 -1.5 -0.6 -0.9 -0.2 -1.8 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 18

19 ABS issuers 4.6 12.0 19.7 48.9 33.1 28.8 38.5 25.0 42.6 45.7 19

20 Finance companies 2.0 0.7 -1.3 3.5 6.1 2.5 -2.0 -2.2 5.1 4.1 20

21 REITs -0.5 -1.0 2.2 2.5 0.5 -1.9 -0.4 0.5 2.0 3.4 21

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing (Farm business) 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -1.3 2.7 1

 2 Net change in assets 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -1.3 2.7 2

 3 Household sector 0.7 0.8 1.2 -0.4 -0.8 -6.9 -1.0 0.5 -1.5 1.0 3

 4 Nonfarm noncorporate business -0.1 -0.0 -0.1 0.3 0.1 -0.0 0.1 -0.0 0.0 0.2 4

 5 State and local governments -0.0 -0.1 -0.0 -0.1 0.0 -0.0 -0.0 -0.1 0.1 0.1 5

 6 Federal government -0.5 -0.5 -0.9 -0.3 -0.2 -0.1 -0.2 -0.3 -0.3 -0.2 6

 7 Commercial banking 1.2 1.1 2.0 2.0 2.4 2.2 1.3 2.0 -0.1 2.3 7

 8 Savings institutions -0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.1 -0.0 8

 9 Life insurance companies 0.1 0.4 0.3 1.0 0.7 0.4 0.2 0.2 -0.1 -0.5 9

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

11 Government-sponsored enterprises 0.3 1.0 1.5 2.0 1.1 1.6 3.3 5.7 -0.1 -0.0 11

12 Agency- and GSE-backed mortgage pools 0.1 -0.0 0.0 0.1 0.8 0.3 0.0 -1.3 0.6 -0.1 12

(1) Excludes mortgages on farm houses.
FFA, 1995-2004, December 11, 2008 43

F.222 Consumer Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities (Households) 147.0 105.7 70.3 97.1 112.4 176.5 150.7 107.9 104.4 115.0 1

 2 Net change in assets 147.0 105.7 70.3 97.1 112.4 176.5 150.7 107.9 104.4 115.0 2

 3 Nonfinancial corporate business -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.6 -16.2 0.1 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 5

 6 Commercial banking 43.6 25.1 -12.4 -3.1 -4.2 43.3 17.4 34.1 52.8 34.9 6

 7 Savings institutions 1.6 4.6 2.5 5.2 9.4 3.0 6.3 -2.4 9.2 13.4 7

 8 Credit unions 12.3 12.2 8.2 3.0 12.5 16.5 5.1 6.2 10.1 9.5 8

 9 Government-sponsored enterprises 4.0 -0.6 -4.2 -1.2 5.4 -3.9 2.4 -2.5 -16.3 -20.6 9

10 ABS issuers 67.0 60.4 47.0 73.5 62.7 67.7 69.6 35.3 -22.5 -25.3 10

11 Finance companies 17.7 2.8 12.6 15.8 18.3 32.8 45.5 27.5 85.5 99.3 11

F.223 Trade Credit

Billions of dollars

 1 Net change in trade payables 122.2 110.7 127.6 104.6 255.7 393.2 -84.4 86.7 22.4 194.5 1

 2 Household sector 7.9 8.0 8.9 8.7 4.1 3.8 -1.9 19.1 4.8 16.5 2

 3 Nonfinancial corporate business 81.0 49.5 65.1 57.6 178.5 313.3 -103.7 19.7 -54.7 97.3 3

 4 Nonfarm noncorporate business 12.4 30.6 31.0 30.8 34.7 46.6 -4.9 26.0 -25.7 22.2 4

 5 Farm business 1.5 1.4 1.1 -0.4 -0.2 -5.8 0.3 -0.5 -0.4 1.8 5

 6 State and local governments 17.2 18.1 19.5 20.7 22.8 25.0 26.9 28.4 29.2 30.4 6

 7 Federal government -4.6 0.7 -8.8 -8.0 -0.4 4.4 3.4 0.8 72.4 15.1 7

 8 Rest of the world 5.8 -1.7 5.2 -3.9 4.2 0.8 -7.7 -4.9 6.1 3.5 8

 9 Brokers and dealers 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 9

10 Net change in trade receivables 118.6 138.7 150.7 123.2 241.0 378.2 -91.5 -78.2 -0.7 183.3 10

11 Nonfinancial corporate business 78.0 88.1 88.0 87.3 209.2 281.6 -121.3 -98.3 -17.2 128.9 11

12 Nonfarm noncorporate business 15.3 29.5 35.1 28.2 39.4 69.6 1.8 18.9 -25.1 26.6 12

13 State and local governments 6.1 5.6 6.3 7.0 8.7 4.9 6.0 2.6 8.1 7.9 13

14 Federal government -1.6 0.9 -3.2 1.5 4.6 5.3 7.3 -3.3 19.1 10.5 14

15 Rest of the world 0.7 5.5 0.9 -6.5 -5.1 -0.4 -3.1 2.6 1.3 -1.1 15

16 Property-casualty insurance companies 4.4 -0.1 2.7 1.6 2.0 1.0 5.3 4.9 4.5 0.3 16

17 ABS issuers 15.8 9.1 20.9 4.0 -17.8 16.1 12.6 -5.6 8.7 10.2 17

18 Discrepancy 3.6 -28.1 -23.1 -18.6 14.7 15.0 7.2 164.9 23.1 11.2 18

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities 26.7 52.4 111.0 103.2 104.4 146.1 3.1 -87.0 120.0 179.4 1

 2 Household sector 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 23.1 36.6 74.2 81.6 29.2 138.9 41.9 -38.9 85.7 97.9 4

 5 Customer credit balances (HH) 18.6 35.3 52.6 61.2 47.2 88.6 41.9 -41.6 62.7 103.0 5

 6 From U.S.-chartered commercial banks 8.3 -4.8 4.2 11.9 -8.8 7.1 7.2 -2.7 12.2 10.7 6

 7 From foreign banking offices in U.S. -3.7 6.2 17.5 8.4 -9.3 43.2 -7.2 5.5 10.8 -15.8 7

 8 Net change in assets 26.7 52.4 111.0 103.2 104.4 146.1 3.1 -87.0 120.0 179.4 8

 9 Household sector 18.6 35.3 52.6 61.2 47.2 88.6 41.9 -41.6 62.7 103.0 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Commercial banking 4.6 1.3 21.7 20.3 -18.0 50.4 0.0 2.8 23.0 -5.1 11

12 Brokers and dealers 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 12
44 FFA, 1995-2004, December 11, 2008

F.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Life insurance reserves:

 1 Net change in liabilities 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 1

 2 Federal government 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 2

 3 Life insurance companies 44.8 43.8 57.6 46.7 49.4 48.7 75.8 58.5 65.7 32.0 3

 4 Net change in assets (Households) 45.8 44.5 59.3 48.0 50.8 50.2 77.2 60.1 66.8 33.1 4

 Pension fund reserves:

 5 Net change in liabilities 176.8 151.6 213.4 282.0 182.9 271.6 266.3 262.9 258.5 288.4 5

 6 Life insurance companies 52.5 36.7 103.9 131.4 102.7 166.6 129.2 149.3 144.2 200.4 6

 7 Private pension funds (1) 33.1 4.1 -15.3 42.0 -14.6 -23.5 -19.6 16.5 26.2 9.4 7

 8 State and local govt. retirement funds 64.2 49.2 78.3 60.7 46.4 100.4 86.9 51.7 39.9 23.8 8

 9 Federal government retirement funds (2) 26.9 61.6 46.5 47.9 48.5 28.2 69.9 45.4 48.2 54.7 9

10 Net change in assets (Households) (3) 176.8 151.6 213.4 282.0 182.9 271.6 266.3 262.9 258.5 288.4 10

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

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(3) Excludes all individual retirement accounts (IRAs) (table F.225.i), except those at life insurance companies.

F.226 Taxes Payable by Businesses

Billions of dollars

 1 Net change in taxes payable by all 5.4 16.9 19.3 14.7 22.9 25.9 14.4 22.2 -1.1 28.5 1

 businesses

 2 Nonfinancial corporate business -0.0 9.6 9.3 4.8 7.0 7.0 3.1 11.9 -11.7 6.8 2

 3 Nonfarm noncorporate business 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 3

 4 U.S.-chartered commercial banks 0.9 1.2 1.4 1.7 1.9 2.1 2.4 2.6 2.9 3.2 4

 5 Savings institutions 0.5 -0.1 0.4 0.2 0.0 0.4 -0.7 -0.2 -0.2 0.6 5

 6 Property-casualty insurance companies 1.2 2.5 1.8 2.0 2.0 2.3 2.7 3.2 3.7 4.2 6

 7 Life insurance companies 1.6 0.5 1.2 1.2 1.3 1.6 2.0 2.4 2.8 3.2 7

 8 Finance companies 0.7 0.8 0.8 0.8 0.8 1.0 1.2 1.4 1.6 1.8 8

 9 Brokers and dealers -0.1 0.1 0.1 -0.1 0.9 -0.1 -0.2 -0.5 0.4 0.4 9

10 Net change in business taxes receivable -16.6 -4.5 -9.7 -6.1 12.1 -6.7 -5.6 2.5 41.6 48.7 10

11 State and local governments -9.1 -4.6 0.3 2.8 10.5 14.8 3.7 4.8 7.7 26.1 11

12 Federal government -7.5 0.0 -10.0 -8.9 1.7 -21.5 -9.3 -2.3 33.9 22.6 12

13 Discrepancy 22.0 21.5 29.0 20.8 10.8 32.6 20.1 19.7 -42.6 -20.2 13

F.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment 24.9 -5.2 -61.8 -83.8 -86.3 -35.1 -19.0 -85.8 45.5 -18.0 1

 2 Nonfarm noncorporate business 34.3 -13.8 -67.4 -90.6 -88.7 -44.4 -15.3 -87.0 38.5 -26.3 2

 3 Farm business -8.9 8.3 4.5 8.2 1.1 9.5 -0.4 0.5 11.5 11.6 3

 4 Brokers and dealers -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -4.5 -3.3 4
FFA, 1995-2004, December 11, 2008 45

F.228 Total Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 491.5 530.2 469.2 956.3 1168.7 1400.7 663.4 469.4 442.4 1641.6 1

 2 Household sector 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 2

 3 Nonfinancial corporate business 130.5 186.9 -47.5 386.0 528.9 673.4 31.3 71.7 33.6 425.5 3

 4 Nonfarm noncorporate business 13.5 29.7 56.5 92.3 73.9 86.0 55.3 18.9 23.2 68.8 4

 5 Federal government 25.3 51.8 40.6 34.1 38.2 22.9 53.0 28.7 40.3 59.2 5

 6 Rest of the world 140.2 136.0 135.9 174.0 299.7 180.7 157.4 139.9 86.2 544.3 6

 7 Monetary authority 1.4 -0.0 2.1 0.6 -0.9 1.0 -2.3 1.1 0.2 4.2 7

 8 Commercial banking 124.0 20.1 171.2 96.3 -70.9 196.5 -6.5 121.9 94.7 291.3 8

 9 Savings institutions -0.6 -2.6 -2.1 -1.5 -14.9 17.5 20.7 25.1 -35.0 43.3 9

10 Credit unions -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 10

11 Property-casualty insurance companies 22.8 12.3 10.7 5.6 13.8 5.8 26.5 51.8 49.6 43.0 11

12 Life insurance companies 23.6 18.9 27.2 -2.2 4.8 -20.3 41.8 54.0 18.4 6.7 12

13 Government-sponsored enterprises 6.0 0.6 8.9 21.0 -5.5 -3.1 47.4 27.7 -23.3 -4.1 13

14 Finance companies 20.6 3.6 -0.5 -10.5 72.1 133.9 53.9 67.8 127.1 53.2 14

15 REITs 1.4 2.5 8.8 13.6 -1.0 1.8 0.1 2.7 1.5 7.8 15

16 Brokers and dealers 12.6 28.4 21.6 44.7 7.5 -1.9 138.5 -77.6 40.7 73.7 16

17 Funding corporations -28.6 41.2 35.4 103.1 219.9 106.8 48.6 -67.0 -17.3 21.1 17

18 Net change in assets 733.0 749.3 858.8 1084.2 1420.8 1742.5 893.7 520.5 490.8 1497.2 18

19 Household sector 17.6 10.6 12.7 9.2 11.4 6.1 19.0 36.4 55.0 52.4 19

20 Nonfinancial corporate business 319.9 308.2 154.9 431.0 666.3 819.1 253.2 191.3 -10.0 555.2 20

21 Nonfarm noncorporate business 36.7 36.6 56.4 122.2 81.7 89.9 129.9 40.7 66.3 163.2 21

22 Farm business 1.0 -0.1 0.4 3.4 1.2 0.4 1.2 1.0 1.3 2.0 22

23 State and local governments 64.3 8.4 75.5 18.2 -13.6 -25.2 -17.7 -28.5 -12.0 -5.2 23

24 Federal government -2.1 -6.7 -5.4 -3.5 -0.9 -1.4 1.3 0.0 1.4 0.6 24

25 Rest of the world 117.0 143.2 211.6 170.3 427.4 505.9 207.2 142.4 -81.3 219.0 25

26 Monetary authority -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 26

27 Commercial banking 61.4 25.9 103.5 99.1 27.6 89.0 135.3 63.6 142.9 164.8 27

28 Savings institutions 1.7 -1.8 -3.2 13.1 -2.1 7.7 16.9 19.0 -5.1 88.5 28

29 Credit unions -0.8 -0.2 3.8 6.8 -16.4 4.9 5.4 12.1 -4.1 -1.8 29

30 Property-casualty insurance companies 3.8 3.6 6.1 6.9 7.7 6.4 1.3 14.3 2.3 8.4 30

31 Life insurance companies 7.2 -31.4 -6.7 3.5 -32.6 18.7 -15.5 6.7 27.9 51.9 31

32 Private pension funds 19.5 30.0 8.3 -5.9 -17.1 -58.1 -56.3 20.0 -19.1 -34.8 32

33 State and local govt. retirement funds 0.2 0.7 0.1 0.2 1.3 1.1 1.8 0.4 0.9 4.6 33

34 Federal government retirement funds 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 34

35 Money market mutual funds 11.6 4.4 14.3 7.6 24.9 7.5 -3.3 -8.6 -0.2 -2.9 35

36 Mutual funds 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 36

37 Government-sponsored enterprises -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 37

38 Finance companies 21.0 23.5 25.4 -27.0 47.8 57.1 38.4 34.8 107.7 -39.9 38

39 REITs 1.0 -1.7 4.9 10.7 -3.5 2.7 0.2 2.1 4.2 11.2 39

40 Brokers and dealers 10.3 68.2 82.8 115.9 28.3 133.0 156.6 -110.8 156.6 148.6 40

41 Funding corporations 24.5 65.2 57.3 60.7 140.2 60.3 -44.5 35.5 10.6 59.6 41

42 Discrepancy -241.5 -219.1 -389.7 -127.9 -252.1 -341.8 -230.3 -51.1 -48.5 144.3 42
46 FFA, 1995-2004, December 11, 2008

F.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world 98.8 91.9 104.8 142.6 224.9 159.2 142.3 154.5 149.6 316.2 1

 2 Equity 40.5 27.5 40.8 72.4 98.9 78.0 60.9 42.7 35.5 133.3 2

 3 Reinvested earnings 53.9 54.7 58.0 44.2 64.2 93.6 69.8 85.3 120.7 162.9 3

 4 Intercompany accounts 4.4 9.7 6.0 26.0 61.8 -12.4 11.6 26.5 -6.6 20.0 4

 5 Asset: Nonfinancial corporate business 90.3 76.8 84.3 129.2 194.4 128.4 119.4 129.7 122.6 270.2 5

 6 Commercial banking 1.6 3.5 3.0 2.0 4.5 10.9 0.9 2.9 6.4 7.1 6

 7 Property-casualty insurance companies 3.8 3.6 6.1 6.9 7.7 6.4 1.3 14.3 2.3 8.4 7

 8 Life insurance companies 0.4 0.8 1.8 0.7 2.4 2.2 2.9 2.0 3.1 4.8 8

 9 Finance companies 2.5 7.3 9.0 0.5 11.8 10.6 17.3 5.8 13.0 24.4 9

10 Brokers and dealers 0.1 -0.1 0.7 3.4 4.1 0.7 0.6 -0.3 2.1 1.3 10

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

11 Liab.: Nonfinancial corporate business 53.4 70.2 99.2 143.5 179.0 192.4 84.5 27.5 23.9 28.6 11

12 Nonfarm noncorporate business -0.1 0.3 0.5 0.2 0.2 0.1 0.1 0.1 -0.2 0.1 12

13 Commercial banking 6.6 -0.1 7.7 5.5 19.4 9.7 8.4 2.1 4.2 17.9 13

14 Property-casualty insurance companies 2.0 5.7 5.9 1.3 11.3 6.6 0.4 7.7 3.0 -4.8 14

15 Life insurance companies 1.8 1.0 7.0 2.7 11.7 27.9 8.1 3.7 -5.2 20.8 15

16 Finance companies 2.8 5.1 6.6 2.6 13.2 14.9 7.8 -3.5 21.7 16.1 16

17 Brokers and dealers 1.5 1.3 0.3 1.7 3.6 5.1 -1.3 1.7 4.8 6.0 17

18 Funding corporations -10.2 2.9 -21.6 21.6 51.0 64.6 59.0 45.0 11.6 61.4 18

19 Asset: Rest of the world 57.8 86.5 105.6 179.0 289.4 321.3 167.0 84.4 63.8 146.0 19

20 Equity 47.9 63.7 59.5 147.1 221.6 259.6 140.9 105.3 93.4 92.9 20

21 Reinvested earnings 8.4 8.5 15.0 2.8 4.1 -0.3 -33.8 1.6 14.3 49.5 21

22 Intercompany accounts 1.5 14.3 31.1 29.1 63.8 61.9 60.0 -22.6 -44.0 3.5 22

 Federal government equity in IBRD, etc.:

23 Liab.: Rest of the world 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 23

24 Asset: Federal government 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 24

 Federal Reserve Bank stock:

25 Liab.: Monetary authority 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 25

26 Asset: Commercial banking 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 26

 Equity in govt.-sponsored enterprises:

27 Liab.: Government-sponsored enterprises 2.0 1.5 1.8 4.1 6.1 2.2 3.3 2.0 3.2 2.5 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 28

29 Nonfarm noncorporate (BC) 0.0 0.7 0.0 -0.1 0.0 0.0 0.1 0.0 0.3 -0.1 29

30 Farm business (FICB and FLB) -0.1 -0.6 0.0 0.1 -0.0 0.0 0.4 0.1 0.4 0.2 30

31 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Commercial banks (FHLB) 1.6 0.8 1.3 2.0 3.0 0.8 1.4 2.3 1.2 0.6 32

33 Savings institutions (FHLB) 0.4 0.5 0.4 1.8 2.7 1.3 1.2 -1.0 0.4 1.0 33

34 Credit unions (FHLB) 0.1 0.0 0.0 0.1 0.2 0.1 0.2 0.3 0.2 0.2 34

35 Life insurance companies (FHLB) -0.0 0.1 0.0 0.0 0.1 0.0 -0.1 0.2 0.7 0.6 35

 BHC investment in subsidiaries:

36 Liab.: Commercial banking 40.1 28.6 40.7 55.3 2.9 53.6 60.7 53.1 50.5 167.2 36

37 Savings institutions 0.1 0.2 0.3 0.4 0.5 0.7 0.8 0.9 1.0 1.2 37

38 Finance companies 3.5 5.8 -8.3 -6.4 26.8 -6.3 2.8 -1.6 9.4 64.5 38

39 Brokers and dealers 4.7 -5.8 32.9 50.1 -10.0 44.0 26.2 0.5 35.2 10.5 39

40 Asset: Bank holding companies 48.3 28.9 65.7 99.4 20.2 92.0 90.4 53.0 96.2 243.5 40

 NFC investment in finance company subs.:

41 Liab.: Finance companies 4.6 1.8 -3.7 -22.4 26.8 121.3 15.2 24.7 14.0 -9.6 41

42 Asset: Nonfinancial corporate business 4.6 1.8 -3.7 -22.4 26.8 121.3 15.2 24.7 14.0 -9.6 42

 Funding corp. investment in subs.:

43 Liab.: Foreign banking offices in U.S. 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 43

44 Brokers and dealers 17.8 51.5 43.0 48.9 137.7 14.7 -22.6 16.9 3.2 26.5 44

45 Asset: Funding corporations 24.5 65.2 57.3 60.7 140.2 60.3 -44.5 35.5 10.6 59.6 45

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.
FFA, 1995-2004, December 11, 2008 47

F.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.2 -0.0 1

 2 Asset: Federal government 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.2 -0.0 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 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 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 3.3 -1.2 0.0 6.8 -7.8 0.0 8.6 1.9 -7.1 -2.1 6

 7 Asset: Savings institutions 3.3 -1.2 0.0 6.8 -7.8 0.0 8.6 1.9 -7.1 -2.1 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 8

 9 Asset: Life insurance companies 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 9

 Life insurance company reserves:

10 Liab.: Life insurance companies 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 10

11 Health 5.2 6.2 6.3 7.3 10.2 3.9 3.1 10.1 10.9 9.8 11

12 Policy dividend accumulation 0.8 0.8 2.0 0.7 1.2 1.1 1.0 0.1 -0.0 1.2 12

13 Policy and contract claims 2.0 0.8 2.4 2.4 -0.0 1.9 2.4 0.0 3.0 0.5 13

14 Asset: Household sector 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 14

 Policy payables:

15 Liab.: Property-casualty insurance companies 20.8 6.6 4.8 4.3 2.5 -0.8 26.1 44.1 46.6 47.9 15

16 Asset: Household sector 9.6 2.8 2.0 -1.0 0.1 -0.7 12.5 21.6 22.9 23.6 16

17 Nonfinancial corporate business 8.2 2.6 1.9 1.7 1.0 -0.3 10.3 17.4 18.4 18.9 17

18 Nonfarm noncorporate business 2.0 0.6 0.5 0.4 0.2 -0.1 2.5 4.2 4.4 3.5 18

19 Farm business 1.1 0.6 0.4 3.2 1.2 0.3 0.8 0.9 0.9 1.8 19

 Unallocated insurance company contracts:

20 Liab.: Life insurance companies 7.8 4.8 -9.9 -23.6 -18.5 -35.7 11.8 12.2 -18.1 -35.2 20

21 Asset: Private pension funds 7.8 4.8 -9.9 -23.6 -18.5 -35.7 11.8 12.2 -18.1 -35.2 21

 Pension fund contributions payable:

22 Liab.: Nonfinancial corporate business 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 22

23 Asset: Private pension funds 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 23

 Securities borrowed (net):

24 Liab.: Funding corporations -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 24

25 Asset: Brokers and dealers -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 25

 Nonmarketable government securities:

26 Liab.: Federal government 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 26

27 Asset: Federal government retirement funds 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 27

 Retiree Health Care Funds (2):

28 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.6 18.2 17.3 28

29 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.6 18.2 17.3 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.
48 FFA, 1995-2004, December 11, 2008

F.231 Unidentified Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 192.1 113.1 23.6 370.4 429.9 581.3 128.7 15.7 -78.5 712.9 1

 2 Nonfinancial corporate business 71.7 111.2 -155.0 229.6 368.3 500.1 -28.7 42.7 9.8 400.0 2

 3 Nonfarm noncorporate business 13.6 29.4 56.0 92.1 73.7 85.9 55.2 18.7 23.4 68.8 3

 4 Federal government 4.5 -3.3 0.3 -7.1 -2.9 2.0 -7.8 -0.4 -2.6 1.0 4

 5 Rest of the world 39.7 42.4 29.6 29.9 72.7 19.9 13.4 -16.2 -65.0 226.2 5

 6 Monetary authority 1.1 -0.7 1.3 0.1 -1.4 0.4 -2.7 0.1 -0.3 1.2 6

 7 Commercial banking 70.6 -22.1 108.4 23.8 -95.6 87.6 -53.7 48.1 32.6 73.1 7

 8 U.S.-chartered commercial banks 3.5 -13.0 30.5 -27.0 -20.1 71.3 -101.2 13.1 51.5 84.4 8

 9 Foreign banking offices in U.S. 37.6 -26.9 34.2 -11.4 -66.9 -27.5 -9.7 24.1 -44.9 -170.1 9

10 Bank holding companies 26.6 17.3 39.0 56.0 -10.8 43.1 52.9 11.5 22.6 148.0 10

11 Banks in U.S.-affiliated areas 2.9 0.6 4.7 6.3 2.2 0.7 4.2 -0.7 3.4 10.8 11

12 Savings institutions -0.7 -2.8 -2.4 -1.9 -15.5 16.9 19.9 24.2 -36.1 42.2 12

13 Credit unions -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 13

14 Life insurance companies 5.9 5.3 19.4 8.4 0.3 -19.4 15.3 27.8 27.8 9.6 14

15 Government-sponsored enterprises 0.8 0.3 7.1 10.1 -3.7 -5.4 35.6 23.8 -19.4 -4.5 15

16 Finance companies 9.8 -9.1 4.9 15.8 5.4 3.9 28.2 48.3 82.1 -17.7 16

17 REITs 1.4 2.5 8.8 13.6 -1.0 1.8 0.1 2.7 1.5 7.8 17

18 Brokers and dealers -11.4 -18.7 -54.6 -55.9 -123.8 -65.7 136.2 -96.8 -2.5 30.7 18

19 Funding corporations -12.9 -21.7 -0.3 11.5 152.6 -46.4 -80.5 -109.2 -131.5 -127.2 19

20 Net change in assets 433.6 332.1 413.2 498.4 682.0 923.0 359.0 66.8 -30.0 568.6 20

21 Nonfinancial corporate business 216.7 227.1 72.5 322.5 444.1 569.7 108.3 19.5 -165.0 275.6 21

22 Nonfarm noncorporate business 34.7 35.2 55.9 121.9 81.4 90.0 127.3 36.5 61.6 159.7 22

23 State and local governments 64.3 8.4 75.5 18.2 -13.6 -25.2 -17.7 -28.5 -12.0 -5.2 23

24 Federal government -3.8 -8.4 -7.0 -5.0 -3.0 -2.9 -0.3 -1.6 -0.2 -1.4 24

25 Rest of the world 59.2 56.7 106.0 -8.7 137.9 184.6 40.2 58.1 -145.0 73.1 25

26 Monetary authority -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 26

27 Commercial banking 9.6 -7.9 32.7 -4.9 -0.6 -15.3 42.2 4.3 38.6 -89.5 27

28 U.S.-chartered commercial banks -1.6 1.3 0.5 -20.3 1.3 -6.4 19.7 -13.9 41.2 1.6 28

29 Foreign banking offices in U.S. 5.0 -21.2 37.0 0.3 -29.7 -27.7 10.7 -3.1 -22.8 -124.5 29

30 Bank holding companies 4.6 11.3 -6.7 12.1 28.9 20.9 5.9 27.3 22.4 32.4 30

31 Banks in U.S.-affiliated areas 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 31

32 Savings institutions -2.0 -1.1 -3.6 4.4 3.0 6.4 7.1 18.0 1.6 89.7 32

33 Credit unions -0.9 -0.2 3.8 6.7 -16.6 4.8 5.2 11.8 -4.3 -2.1 33

34 Life insurance companies 6.1 -33.1 -8.8 4.1 -37.3 16.4 -17.9 3.6 23.3 45.0 34

35 Private pension funds 6.3 19.8 9.8 4.8 19.8 -3.4 -43.5 6.2 -0.8 3.5 35

36 State and local govt. retirement funds 0.2 0.7 0.1 0.2 1.3 1.1 1.8 0.4 0.9 4.6 36

37 Money market mutual funds 11.6 4.4 14.3 7.6 24.9 7.5 -3.3 -8.6 -0.2 -2.9 37

38 Mutual funds 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 38

39 Government-sponsored enterprises -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 39

40 Finance companies 18.6 16.2 16.4 -27.4 36.1 46.5 21.1 29.1 94.7 -64.3 40

41 REITs 1.0 -1.7 4.9 10.7 -3.5 2.7 0.2 2.1 4.2 11.2 41

42 Brokers and dealers 15.7 8.4 24.9 42.6 7.9 43.7 85.8 -107.6 51.9 60.5 42

43 Discrepancy -241.5 -219.1 -389.7 -127.9 -252.1 -341.8 -230.3 -51.1 -48.5 144.3 43
FFA, 1995-2004, December 11, 2008 49

F.11 Sector Discrepancies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 All sectors -304.8 -272.4 -328.9 -98.7 -170.1 51.2 -179.4 206.4 -130.7 93.6 1

 2 Household sector -111.7 -144.8 -98.5 -31.7 63.0 331.3 -40.8 164.7 -140.7 -107.1 2

 3 Nonfinancial corporate business -54.7 -34.9 -20.8 -50.4 -115.2 -182.4 -130.0 28.9 12.1 -71.3 3

 4 State and local governments -66.9 -53.4 -46.7 -84.2 -59.8 -64.3 -47.4 -30.3 -43.9 -58.7 4

 5 Federal government -4.7 39.2 10.1 33.5 -6.0 -6.8 38.8 15.0 61.4 19.2 5

 6 Rest of the world 10.0 -32.7 -106.7 121.9 45.5 -79.3 -27.5 -39.4 -13.9 96.5 6

 7 Financial sectors -76.8 -45.7 -66.2 -87.9 -97.7 52.6 27.5 67.6 -5.6 215.0 7

 8 Monetary authority -2.4 0.3 1.1 -3.8 -2.1 3.4 -0.6 -2.8 -3.4 -2.3 8

 9 Commercial banking -16.7 -3.2 33.4 -7.6 -78.5 112.0 38.6 67.5 19.1 224.0 9

10 Savings institutions -2.3 -3.4 -1.7 -2.8 2.1 2.5 2.2 4.9 -0.3 -2.0 10

11 Credit unions 0.7 1.5 -0.1 -0.0 1.1 -0.4 0.4 0.6 1.8 1.9 11

12 Property-casualty insurance companies -13.9 -4.9 -39.2 -13.3 17.2 -12.6 2.7 -16.4 -7.1 -13.0 12

13 Life insurance companies -36.6 -39.3 -41.8 -29.5 -27.0 -20.2 -10.8 -25.4 -38.4 -35.7 13

14 Mutual funds 8.7 4.9 6.2 -9.1 4.1 -1.5 -8.4 -21.6 2.5 3.2 14

15 Government-sponsored enterprises -1.8 0.4 -2.1 -3.5 -1.7 -3.4 9.8 10.2 -14.8 -14.4 15

16 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 16

17 Finance companies -3.3 2.5 -16.8 -14.9 -16.0 18.6 4.4 32.2 52.2 47.1 17

18 REITs 6.6 6.4 9.4 11.7 16.3 -2.9 5.2 5.3 -1.7 -0.7 18

19 Brokers and dealers -15.8 -10.7 -14.4 -15.0 -12.9 -43.0 -16.0 13.2 -15.6 6.9 19

F.12 Instrument Discrepancies

Billions of dollars

 1 All types -304.8 -272.4 -328.9 -98.7 -170.1 51.2 -179.4 206.4 -130.7 93.6 1

 2 Treasury currency -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 2

 3 Foreign deposits 25.0 59.4 106.2 -5.7 34.0 76.4 -12.9 21.5 52.8 61.9 3

 4 Net interbank transactions -3.0 -3.4 -19.8 3.8 3.2 17.3 17.2 7.2 -4.3 14.9 4

 5 Security RPs 16.8 -1.3 42.9 14.4 -2.4 117.0 -29.7 26.0 -38.2 -141.1 5

 Mail floats:

 6 Federal government -6.0 0.5 -2.7 2.6 -7.4 9.0 -40.0 -1.6 -8.9 27.9 6

 7 Other -3.8 -4.0 -3.9 -3.1 -0.8 -0.3 -0.5 -0.7 -0.0 -0.8 7

 8 Trade credit 3.6 -28.1 -23.1 -18.6 14.7 15.0 7.2 164.9 23.1 11.2 8

 9 Taxes payable 22.0 21.5 29.0 20.8 10.8 32.6 20.1 19.7 -42.6 -20.2 9

10 Miscellaneous -241.5 -219.1 -389.7 -127.9 -252.1 -341.8 -230.3 -51.1 -48.5 144.3 10

11 Nonfinancial -117.6 -97.3 -67.7 15.4 30.6 127.2 89.6 21.0 -63.8 -4.2 11

 Nonfinancial components (sign reversed):

12 Statistical discrepancy (NIPA) 101.2 93.7 70.7 -14.6 -35.7 -127.2 -89.6 -21.0 48.8 19.2 12

13 Private wage accruals less disbursements 16.4 3.6 -2.9 -0.7 5.2 0.0 0.0 0.0 15.0 -15.0 13
50 FFA, 1995-2004, December 11, 2008

L.1 Credit Market Debt Outstanding (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total credit market debt owed by: 18475.0 19812.3 21244.8 23337.9 25405.8 27142.7 29327.8 31826.4 34605.3 37785.9 1

 2 Domestic nonfinancial sectors 13673.8 14407.6 15219.7 16226.6 17307.7 18183.6 19319.3 20731.6 22441.4 24446.7 2

 3 Household sector 4856.7 5193.1 5494.3 5920.3 6416.1 7010.7 7682.9 8513.7 9500.1 10573.0 3

 4 Nonfinancial corporate business 2940.2 3140.0 3472.1 3855.2 4276.0 4637.9 4833.7 4856.6 4973.9 5177.9 4

 5 Nonfarm noncorporate business 1062.1 1131.1 1228.8 1404.2 1599.4 1795.8 1957.3 2107.1 2198.7 2443.8 5

 6 Farm business 131.4 135.5 142.8 150.9 154.2 156.1 162.6 169.7 168.0 174.1 6

 7 State and local governments 1046.7 1026.2 1076.9 1143.8 1181.0 1197.9 1303.4 1447.5 1567.6 1683.0 7

 8 Federal government 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 8

 9 Rest of the world 567.6 657.2 723.6 783.2 748.2 814.5 865.4 1072.8 1252.7 1437.7 9

10 Financial sectors 4233.5 4747.5 5301.4 6328.2 7350.6 8145.1 9143.8 10023.2 10915.2 11906.4 10

11 Commercial banking 250.6 263.6 309.2 382.1 449.3 509.3 562.1 611.8 660.4 738.7 11

12 U.S.-chartered commercial banks 92.2 103.9 133.4 186.2 228.0 264.8 294.9 324.8 338.0 356.7 12

13 Foreign banking offices in U.S. 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 13

14 Bank holding companies 148.0 150.0 168.6 193.5 219.3 242.5 266.1 286.4 321.8 381.3 14

15 Savings institutions 115.0 140.5 160.3 212.4 260.4 287.7 285.7 262.3 296.8 385.8 15

16 Credit unions 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 16

17 Life insurance companies 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 17

18 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 18

19 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3326.7 3374.6 19

20 ABS issuers 666.4 781.0 918.3 1176.4 1330.1 1503.6 1761.5 1982.6 2217.2 2654.6 20

21 Finance companies 500.4 555.1 584.4 645.3 720.9 807.1 818.0 884.2 995.3 1129.6 21

22 REITs 44.6 56.5 96.1 158.8 165.4 168.0 171.2 198.1 230.3 340.2 22

23 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 23

24 Funding corporations 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 519.3 517.1 24

25 Total credit market assets held by: 18475.0 19812.3 21244.8 23337.9 25405.8 27142.7 29327.8 31826.4 34605.3 37785.9 25

26 Domestic nonfinancial sectors 3501.0 3663.0 3658.0 3829.4 4103.5 4120.1 4151.1 4447.6 4786.8 5212.0 26

27 Household sector 2336.8 2534.8 2522.8 2582.8 2744.9 2654.1 2585.0 2762.3 3047.5 3355.2 27

28 Nonfinancial corporate business 280.4 270.2 263.0 246.0 221.8 248.3 243.6 269.4 266.2 297.4 28

29 Nonfarm noncorporate business 47.6 51.6 54.2 67.1 64.0 66.0 73.1 72.4 73.9 85.4 29

30 State and local governments 638.6 604.8 605.0 714.6 816.5 887.3 981.2 1067.4 1125.6 1198.1 30

31 Federal government 197.6 201.6 213.1 218.8 256.3 264.3 268.2 276.2 273.6 275.9 31

32 Rest of the world 1464.8 1795.6 2035.6 2202.0 2196.1 2451.1 2850.2 3303.0 3836.1 4634.7 32

33 Financial sectors 13509.2 14353.7 15551.2 17306.5 19106.1 20571.6 22326.5 24075.7 25982.4 27939.3 33

34 Monetary authority 380.8 393.1 431.4 452.5 478.1 511.8 551.7 629.4 666.7 717.8 34

35 Commercial banking 3520.1 3707.7 4031.9 4336.1 4648.3 5006.3 5210.5 5614.9 5994.3 6602.3 35

36 U.S.-chartered commercial banks 3056.1 3175.8 3450.7 3761.4 4080.0 4419.5 4610.1 5003.9 5390.6 5961.8 36

37 Foreign banking offices in U.S. 412.6 475.8 516.1 504.5 487.4 511.3 510.7 516.9 490.3 513.3 37

38 Bank holding companies 18.0 22.0 27.4 26.5 32.7 20.5 24.7 27.8 36.4 36.4 38

39 Banks in U.S.-affiliated areas 33.4 34.1 37.8 43.8 48.3 55.0 65.0 66.3 76.9 90.8 39

40 Savings institutions 913.3 933.2 928.5 965.5 1032.6 1088.8 1133.2 1166.6 1293.9 1417.4 40

41 Credit unions 263.0 288.5 305.3 324.2 351.7 379.7 421.2 465.4 516.6 556.4 41

42 Property-casualty insurance companies 468.7 491.2 515.3 521.1 518.2 509.4 518.4 558.3 625.2 698.8 42

43 Life insurance companies 1587.5 1657.0 1751.1 1828.0 1886.0 1943.9 2074.8 2307.8 2488.3 2661.4 43

44 Private pension funds 608.4 602.3 646.8 639.7 746.9 621.9 585.8 577.3 646.5 646.1 44

45 State and local govt. retirement funds 509.8 538.4 598.3 661.5 707.0 743.2 689.4 638.7 657.5 675.3 45

46 Federal government retirement funds 23.3 25.6 27.5 30.2 33.1 35.1 44.8 57.6 63.6 68.2 46

47 Money market mutual funds 545.5 634.3 721.9 970.5 1155.3 1317.5 1584.9 1567.1 1471.3 1346.3 47

48 Mutual funds 771.3 820.2 901.1 1028.4 1076.8 1103.1 1229.7 1368.4 1506.4 1623.0 48

49 Closed-end funds 94.5 97.4 96.3 101.2 110.8 105.3 108.5 117.1 152.6 163.6 49

50 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 4.5 8.2 50

51 Government-sponsored enterprises 762.8 833.8 934.2 1251.5 1538.8 1794.4 2099.1 2323.2 2564.2 2613.0 51

52 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3326.7 3374.6 52

53 ABS issuers 612.0 712.2 826.5 1078.8 1253.2 1413.7 1665.5 1893.4 2119.5 2547.4 53

54 Finance companies 559.2 586.3 600.3 685.2 792.0 928.5 978.4 1082.0 1204.9 1419.8 54

55 REITs 26.0 30.4 50.6 45.5 44.6 39.3 48.0 70.2 96.4 198.6 55

56 Brokers and dealers 183.4 167.7 182.6 189.4 154.7 223.6 316.0 344.4 424.1 394.9 56

57 Funding corporations 108.9 122.7 175.5 178.5 284.5 312.7 234.8 131.6 159.3 205.9 57

(1) Excludes corporate equities and mutual fund shares.
FFA, 1995-2004, December 11, 2008 51

L.2 Credit Market Debt Owed by Nonfinancial Sectors

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Domestic 13673.8 14407.6 15219.7 16226.6 17307.7 18183.6 19319.3 20731.6 22441.4 24446.7 1

 2 By instrument 13673.8 14407.6 15219.7 16226.6 17307.7 18183.6 19319.3 20731.6 22441.4 24446.7 2

 3 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 3

 4 Treasury securities 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 4

 5 Agency- and GSE-backed securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 5

 6 Municipal securities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.5 1762.9 1900.5 2031.0 6

 7 Corporate bonds 1357.2 1485.2 1666.3 1881.2 2107.1 2271.1 2614.5 2747.9 2900.1 2975.6 7

 8 Bank loans n.e.c. 863.6 934.0 1040.4 1148.0 1231.1 1326.2 1239.5 1133.0 1088.4 1099.2 8

 9 Other loans and advances 699.9 730.3 793.6 862.8 898.6 995.2 1000.8 1028.4 1038.6 1096.7 9

10 Mortgages 4522.7 4784.5 5083.3 5545.4 6148.9 6705.6 7411.8 8302.7 9294.0 10532.1 10

11 Home 3460.9 3684.5 3919.3 4275.9 4701.9 5129.1 5680.9 6437.5 7231.5 8268.5 11

12 Multifamily residential 267.6 277.3 284.3 309.7 360.2 387.1 427.4 464.3 543.5 591.9 12

13 Commercial 722.6 748.3 801.2 876.6 999.6 1104.7 1214.9 1305.5 1424.8 1574.8 13

14 Farm 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 94.1 96.9 14

15 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1892.0 1999.9 2104.4 2219.4 15

16 By sector 13673.8 14407.6 15219.7 16226.6 17307.7 18183.6 19319.3 20731.6 22441.4 24446.7 16

17 Household sector 4856.7 5193.1 5494.3 5920.3 6416.1 7010.7 7682.9 8513.7 9500.1 10573.0 17

18 Nonfinancial business 4133.7 4406.7 4843.7 5410.3 6029.6 6589.9 6953.5 7133.3 7340.6 7795.8 18

19 Corporate 2940.2 3140.0 3472.1 3855.2 4276.0 4637.9 4833.7 4856.6 4973.9 5177.9 19

20 Nonfarm noncorporate 1062.1 1131.1 1228.8 1404.2 1599.4 1795.8 1957.3 2107.1 2198.7 2443.8 20

21 Farm 131.4 135.5 142.8 150.9 154.2 156.1 162.6 169.7 168.0 174.1 21

22 State and local governments 1046.7 1026.2 1076.9 1143.8 1181.0 1197.9 1303.4 1447.5 1567.6 1683.0 22

23 Federal government 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 23

 Foreign credit market debt

24 held in U.S. 567.6 657.2 723.6 783.2 748.2 814.5 865.4 1072.8 1252.7 1437.7 24

25 Commercial paper 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 275.5 344.2 25

26 Bonds 413.3 481.4 543.4 594.4 548.2 572.7 557.1 702.7 868.9 985.0 26

27 Bank loans n.e.c. 34.6 43.7 52.1 58.7 59.2 70.5 63.2 68.6 66.1 69.9 27

28 Other loans and advances 63.6 64.7 63.0 57.2 51.6 50.4 46.6 44.3 42.2 38.6 28

29 Domestic and foreign 14241.4 15064.9 15943.4 17009.7 18055.9 18998.1 20184.7 21804.4 23694.1 25884.4 29

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 4233.5 4747.5 5301.4 6328.2 7350.6 8145.1 9143.8 10023.2 10915.2 11906.4 1

 2 Open market paper 486.9 579.1 745.7 906.7 1082.9 1214.7 1097.8 997.9 935.0 957.1 2

 3 GSE issues 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 3

 4 Agency- and GSE-backed mortgage pool sec. 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3326.7 3374.6 4

 5 Corporate bonds 1158.5 1300.4 1410.3 1657.1 1808.9 1985.9 2412.1 2805.5 3277.9 3965.1 5

 6 Bank loans n.e.c. 51.4 64.0 77.3 109.6 96.0 102.8 121.6 142.6 164.0 222.1 6

 7 Other loans and advances 135.0 162.9 198.5 288.7 395.8 438.3 463.7 470.5 501.7 575.8 7

 8 Mortgages 24.1 31.9 46.8 71.6 78.5 83.4 85.6 96.5 104.7 130.6 8

 9 By sector 4233.5 4747.5 5301.4 6328.2 7350.6 8145.1 9143.8 10023.2 10915.2 11906.4 9

10 Commercial banks 102.6 113.6 140.6 188.6 230.0 266.7 296.0 325.5 338.6 357.4 10

11 Bank holding companies 148.0 150.0 168.6 193.5 219.3 242.5 266.1 286.4 321.8 381.3 11

12 Savings institutions 115.0 140.5 160.3 212.4 260.4 287.7 285.7 262.3 296.8 385.8 12

13 Credit unions 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 13

14 Life insurance companies 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 14

15 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 15

16 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3326.7 3374.6 16

17 ABS issuers 666.4 781.0 918.3 1176.4 1330.1 1503.6 1761.5 1982.6 2217.2 2654.6 17

18 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 18

19 Finance companies 500.4 555.1 584.4 645.3 720.9 807.1 818.0 884.2 995.3 1129.6 19

20 REITs 44.6 56.5 96.1 158.8 165.4 168.0 171.2 198.1 230.3 340.2 20

21 Funding corporations 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 519.3 517.1 21
52 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total 18475.0 19812.3 21244.8 23337.9 25405.8 27142.7 29327.8 31826.4 34605.3 37785.9 1

 2 Open market paper 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 2

 3 Treasury securities 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 3

 4 Agency- and GSE-backed securities 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5952.9 6075.2 4

 5 Municipal securities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.5 1762.9 1900.5 2031.0 5

 6 Corporate and foreign bonds 2929.0 3267.0 3620.0 4132.8 4464.2 4829.7 5583.7 6256.1 7047.0 7925.6 6

 7 Bank loans n.e.c. 949.6 1041.7 1169.8 1316.4 1386.2 1499.6 1424.3 1344.2 1318.4 1391.2 7

 8 Other loans and advances 898.4 958.0 1055.1 1208.7 1346.1 1483.8 1511.1 1543.1 1582.5 1711.1 8

 9 Mortgages 4546.8 4816.4 5130.1 5617.0 6227.4 6788.9 7497.3 8399.2 9398.6 10662.7 9

10 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1892.0 1999.9 2104.4 2219.4 10

 Memo:

 Selected claims not included above:

11 Corporate equities 8481.3 9748.1 12621.9 15354.1 19401.0 17575.0 15628.6 12438.3 16638.7 18947.2 11

12 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 12

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

Billions of dollars

 Total credit market debt

 1 (from table L.4) 18475.0 19812.3 21244.8 23337.9 25405.8 27142.7 29327.8 31826.4 34605.3 37785.9 1

 2 Official foreign exchange 63.7 53.7 48.9 60.1 50.1 46.1 46.8 55.8 62.3 62.2 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 3

 4 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 4

 5 Foreign deposits 418.8 521.7 618.5 627.6 676.5 803.3 810.1 831.1 867.1 957.0 5

 6 Net interbank liabilities 290.8 240.8 219.4 189.5 205.5 221.3 191.4 206.0 193.0 212.2 6

 7 Checkable deposits and currency 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.9 1352.9 1437.5 1522.8 7

 8 Small time and savings deposits 2298.4 2422.3 2551.8 2741.1 2824.9 3055.9 3370.5 3695.9 4003.3 4284.9 8

 9 Large time deposits 476.9 590.9 713.4 805.3 936.4 1052.6 1121.0 1171.0 1226.8 1505.1 9

10 Money market fund shares 741.3 886.7 1042.5 1327.9 1579.6 1812.1 2240.6 2223.9 2016.4 1879.8 10

11 Security RPs 626.0 664.0 765.0 809.3 937.3 1025.2 1037.5 1134.1 1348.5 1435.4 11

12 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 12

13 Security credit 305.7 358.1 469.1 572.2 676.6 822.7 825.9 738.8 858.8 1038.2 13

14 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 14

15 Pension fund reserves 5715.3 6377.5 7354.8 8264.5 9265.2 9166.0 8766.4 8198.0 9722.4 10632.6 15

16 Trade payables 1443.2 1553.9 1681.5 1786.1 2047.4 2440.6 2356.3 2443.0 2465.4 2659.8 16

17 Taxes payable 105.0 122.0 141.3 156.0 178.9 204.8 219.2 241.4 240.4 268.9 17

18 Miscellaneous 6397.8 6806.3 7320.3 8275.9 9497.5 10643.5 11152.2 11712.7 12287.8 13827.1 18

19 Total liabilities 41016.6 44592.1 49063.3 54534.0 60963.4 64933.3 67868.6 70418.0 77030.3 84597.4 19

 + Financial assets not included in

 liabilities:

20 Gold and SDRs 22.1 21.4 21.1 21.6 21.4 21.6 21.8 23.2 23.7 24.6 20

21 Corporate equities 8481.3 9748.1 12621.9 15354.1 19401.0 17575.0 15628.6 12438.3 16638.7 18947.2 21

22 Household equity in noncorp. bus. 3486.6 3702.4 3907.9 4121.4 4320.5 4695.2 4822.7 5041.5 5560.9 6318.5 22

 - Liabilities not identified as assets:

23 Treasury currency -5.7 -6.1 -6.2 -6.4 -7.1 -8.5 -8.6 -9.1 -9.5 -9.7 23

24 Foreign deposits 358.4 434.9 535.0 529.2 563.3 643.8 630.9 652.5 705.3 767.2 24

25 Net interbank transactions -8.9 -10.6 -32.1 -26.5 -25.3 -4.3 11.1 15.5 12.7 27.3 25

26 Security RPs 73.0 71.7 114.6 129.0 126.6 257.1 194.4 220.4 182.1 36.5 26

27 Taxes payable 69.2 17.7 44.1 59.7 67.6 80.2 83.8 96.2 80.6 89.1 27

28 Miscellaneous -971.9 -1342.8 -1727.4 -2220.6 -2634.4 -3659.2 -3899.8 -3830.1 -3620.1 -3732.5 28

 - Floats not included in assets:

29 Checkable deposits: Federal govt. 3.1 -1.6 -8.1 -3.9 -9.8 -2.3 -12.3 -11.7 -17.9 11.2 29

30 Other 34.2 30.1 26.2 23.1 22.3 22.0 21.6 20.9 20.8 20.0 30

31 Trade credit -140.0 -168.1 -191.2 -209.8 -191.0 -176.0 -162.1 2.8 25.9 37.1 31

32 Totals identified to sectors as assets 53595.3 59038.7 66859.4 75757.3 86794.1 90072.1 91482.9 90763.9 101873.7 112641.4 32
FFA, 1995-2004, December 11, 2008 53

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 18737.2 20516.4 23722.3 27025.7 31477.7 30182.2 29083.6 27022.8 31663.1 34990.6 1

 2 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.1 57.5 2

 3 Checkable deposits and currency 683.0 635.8 609.3 630.2 588.5 514.4 584.1 593.6 583.1 637.5 3

 4 Time and savings deposits 2387.5 2535.8 2686.9 2824.6 2987.4 3317.2 3605.3 3934.3 4316.4 4790.0 4

 5 Money market fund shares 489.5 547.2 625.2 739.2 856.8 1009.2 1172.2 1133.0 1023.8 973.2 5

 6 Securities 7936.6 8734.1 10552.6 12392.6 15347.9 13443.4 11964.7 10069.9 12663.3 14188.7 6

 7 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 97.3 110.4 105.9 136.1 7

 8 U.S. savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 8

 9 Other Treasury securities 672.3 735.7 648.9 590.8 665.1 440.2 297.5 136.3 282.6 381.2 9

10 Agency- and GSE-backed securities 223.0 340.8 398.9 452.3 552.0 608.7 441.5 300.6 437.9 405.7 10

11 Municipal securities 535.6 495.6 500.8 501.5 530.8 533.7 584.6 682.0 706.8 747.1 11

12 Corporate and foreign bonds 561.9 625.4 647.4 718.1 663.9 727.3 909.4 1266.1 1234.2 1401.0 12

13 Corporate equities (2) 4434.2 4712.2 6144.3 7511.2 9769.9 8147.3 6829.5 5161.2 6787.7 7495.9 13

14 Mutual fund shares 1253.0 1561.5 1948.8 2351.8 2894.9 2704.2 2614.6 2218.4 2904.3 3417.4 14

15 Private life insurance reserves 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 15

16 Private insured pension reserves 890.6 974.0 1116.3 1288.4 1478.4 1526.3 1558.5 1604.9 1803.2 2027.9 16

17 Private noninsured pension reserves 2939.4 3268.5 3759.9 4198.1 4651.5 4508.1 4094.7 3719.2 4561.6 4955.8 17

18 Govt. insurance and pension reserves 1915.1 2165.5 2510.8 2811.5 3170.2 3168.1 3151.0 2913.2 3398.1 3690.4 18

19 Miscellaneous and other assets 935.8 1039.9 1191.4 1418.8 1607.4 1864.6 2062.2 2123.2 2288.9 2650.7 19

20 Total liabilities 6593.4 7092.5 7636.9 8401.5 9294.3 10237.0 11090.1 12095.2 13207.9 14732.6 20

21 Mortgage debt on nonfarm homes 3453.7 3676.2 3910.7 4266.0 4689.8 5115.0 5664.7 6420.6 7212.7 8245.1 21

22 Other mortgage debt (3) 849.4 877.9 909.8 1015.4 1115.3 1224.8 1328.5 1432.9 1552.7 1704.4 22

23 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1892.0 1999.9 2104.4 2219.4 23

24 Policy loans 96.9 101.4 104.6 104.7 100.0 102.8 105.0 106.0 105.2 106.8 24

25 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 25

26 Other liabilities (3) 946.7 1068.7 1236.4 1421.4 1607.7 1818.0 1903.5 1987.6 2050.4 2192.9 26

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual funds (line 14) and life insurance and pension reserves (lines 15, 16, 17, and 18).

(3) Includes corporate farms.
54 FFA, 1995-2004, December 11, 2008

L.100 Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 21621.3 23520.1 26797.2 30090.6 34554.0 33385.8 32262.4 30341.9 35404.3 39189.5 1

 2 Deposits 3373.4 3519.3 3686.8 3903.1 4078.3 4408.7 4912.0 5192.7 5403.8 5789.6 2

 3 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.1 57.5 3

 4 Checkable deposits and currency 561.6 495.1 446.1 460.6 413.6 331.0 399.5 405.9 389.0 356.1 4

 5 Time and savings deposits 2316.0 2460.8 2601.1 2698.2 2807.9 3069.7 3350.6 3665.1 4002.5 4472.0 5

 6 Money market fund shares 472.4 527.9 602.3 706.6 816.1 959.8 1113.2 1071.7 960.2 904.1 6

 7 Credit market instruments 2336.8 2534.8 2522.8 2582.8 2744.9 2654.1 2585.0 2762.3 3047.5 3355.2 7

 8 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 97.3 110.4 105.9 136.1 8

 9 Treasury securities 833.6 894.2 803.1 739.5 814.4 584.8 445.0 288.3 441.5 535.4 9

10 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 10

11 Other Treasury 648.6 707.2 616.6 552.8 628.0 400.1 254.6 93.4 237.7 331.0 11

12 Agency- and GSE-backed securities 223.0 340.8 398.9 452.3 552.0 608.7 441.5 300.6 437.9 405.7 12

13 Municipal securities 533.4 493.0 497.6 498.7 528.1 531.2 581.1 678.7 704.1 742.7 13

14 Corporate and foreign bonds 561.9 625.4 647.4 718.1 663.9 727.3 909.4 1266.1 1234.2 1401.0 14

15 Other loans and advances (2) 0.1 0.1 0.2 0.2 0.6 1.9 2.6 2.8 3.1 5.9 15

16 Mortgages 113.0 105.5 98.4 93.9 101.1 103.0 108.2 115.5 120.7 128.5 16

17 Corporate equities (3) 4434.2 4712.2 6144.3 7511.2 9769.9 8147.3 6829.5 5161.2 6787.7 7495.9 17

18 Mutual fund shares 1253.0 1561.5 1948.8 2351.8 2894.9 2704.2 2614.6 2218.4 2904.3 3417.4 18

19 Security credit 127.6 162.9 215.5 276.7 323.9 412.4 454.3 412.7 475.4 578.3 19

20 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 20

21 Pension fund reserves 5715.3 6377.5 7354.8 8264.5 9265.2 9166.0 8766.4 8198.0 9722.4 10632.6 21

22 Equity in noncorporate business 3486.6 3702.4 3907.9 4121.4 4320.5 4695.2 4822.7 5041.5 5560.9 6318.5 22

23 Miscellaneous assets 328.3 338.9 351.5 360.8 372.6 378.7 397.8 434.2 489.1 541.5 23

24 Total liabilities 5053.9 5414.9 5762.1 6217.0 6794.4 7400.1 8031.2 8833.9 9860.3 11032.7 24

25 Credit market instruments 4856.7 5193.1 5494.3 5920.3 6416.1 7010.7 7682.9 8513.7 9500.1 10573.0 25

26 Home mortgages (4) 3334.4 3539.8 3755.9 4057.5 4435.2 4820.9 5327.8 6034.2 6886.0 7835.6 26

27 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1892.0 1999.9 2104.4 2219.4 27

28 Municipal securities 96.4 102.4 109.6 121.3 131.7 137.5 151.3 164.2 178.3 188.6 28

29 Bank loans n.e.c. 57.4 58.0 66.5 72.0 65.2 65.4 43.6 21.1 52.8 35.5 29

30 Other loans and advances 108.4 122.3 123.0 122.6 117.8 119.1 120.0 120.2 118.7 119.0 30

31 Commercial mortgages 91.9 96.6 95.1 105.6 112.5 126.6 148.1 174.0 159.9 174.9 31

32 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 32

33 Trade payables 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 33

 Deferred and unpaid

34 life insurance premiums 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 34

(1) Sector includes farm households. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations.

(2) 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 funds (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.
FFA, 1995-2004, December 11, 2008 55

L.101 Nonfinancial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 5555.6 6149.9 6632.2 7863.2 9326.5 11252.5 11536.6 11659.3 11923.7 13046.8 1

 2 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 2

 3 Checkable deposits and currency 326.5 355.0 370.1 364.5 405.8 429.9 366.5 328.7 385.0 459.9 3

 4 Time and savings deposits 171.1 204.7 250.1 319.0 416.4 519.9 535.8 560.5 676.6 718.4 4

 5 Money market fund shares 77.0 86.9 110.7 159.0 195.6 240.8 360.9 397.1 362.6 393.5 5

 6 Security RPs 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 6

 7 Credit market instruments 328.0 321.8 317.2 313.1 285.8 314.3 316.7 341.8 340.1 382.7 7

 8 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 8

 9 Treasury securities 80.7 75.6 59.1 61.6 56.6 58.3 59.7 74.2 77.7 83.3 9

10 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 12.1 12.2 10

11 Municipal securities 39.0 33.6 30.6 28.6 27.7 34.4 32.8 35.5 38.1 36.2 11

12 Mortgages 79.7 74.7 99.0 93.6 65.3 67.0 73.4 75.7 78.0 97.4 12

13 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.7 58.5 58.6 13

14 Mutual fund shares 45.7 63.0 75.0 98.0 127.0 121.9 112.5 95.8 125.9 140.5 14

15 Trade receivables 1325.3 1442.9 1566.0 1681.6 1930.1 2281.4 2161.8 2082.5 2040.1 2195.6 15

16 Miscellaneous assets 3262.2 3643.5 3915.5 4893.2 5928.5 7316.1 7662.9 7826.3 7949.2 8696.1 16

17 Total liabilities 7549.1 8056.2 8503.6 9642.1 10907.2 12448.3 12868.4 13184.2 13214.9 14049.1 17

18 Credit market instruments 4133.7 4406.7 4843.7 5410.3 6029.6 6589.9 6953.5 7133.3 7340.6 7795.8 18

19 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 19

20 Municipal securities 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.8 164.2 169.4 20

21 Corporate bonds 1357.2 1485.2 1666.3 1881.2 2107.1 2271.1 2614.5 2747.9 2900.1 2975.6 21

22 Bank loans n.e.c. 806.2 876.0 973.9 1076.0 1165.8 1260.8 1195.9 1111.9 1035.5 1063.8 22

23 Other loans and advances 581.8 603.2 660.7 730.1 772.4 867.2 871.8 898.6 910.2 967.7 23

24 Mortgages 1096.4 1148.0 1232.2 1382.2 1601.2 1758.1 1935.9 2094.4 2248.0 2521.6 24

25 Trade payables 975.3 1056.9 1154.0 1242.0 1455.0 1809.2 1700.8 1745.9 1665.0 1786.2 25

26 Taxes payable 73.7 85.5 99.2 108.1 124.0 142.6 149.7 163.1 150.9 166.0 26

27 Miscellaneous liabilities 2366.4 2507.1 2406.7 2881.6 3298.6 3906.6 4064.4 4141.8 4058.4 4301.1 27

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
56 FFA, 1995-2004, December 11, 2008

L.102 Nonfarm Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 4958.5 5457.7 5808.7 6816.1 8093.8 9772.5 9898.9 9941.8 10108.8 10931.6 1

 2 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 2

 3 Checkable deposits and currency 205.1 214.3 206.9 195.0 231.0 246.4 181.9 141.1 190.9 178.4 3

 4 Time and savings deposits 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 4

 5 Money market fund shares 60.0 67.6 87.8 126.4 154.9 191.4 301.9 335.7 299.0 324.3 5

 6 Security RPs 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 6

 7 Credit market instruments 280.4 270.2 263.0 246.0 221.8 248.3 243.6 269.4 266.2 297.4 7

 8 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 8

 9 Treasury securities 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 32.8 33.1 9

10 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 12.1 12.2 10

11 Municipal securities 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 11

12 Mortgages 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 12

13 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.7 58.5 58.6 13

14 Mutual fund shares 45.7 63.0 75.0 98.0 127.0 121.9 112.5 95.8 125.9 140.5 14

15 Trade receivables 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.6 1702.4 1831.3 15

16 Miscellaneous assets 3062.9 3407.7 3622.8 4475.0 5427.5 6724.7 6940.5 7062.2 7117.4 7699.1 16

17 U.S. direct investment abroad (1) 778.7 866.5 933.1 1041.0 1227.7 1322.2 1462.7 1583.9 1718.5 2056.6 17

18 Insurance receivables 183.6 186.2 188.1 189.8 190.8 190.4 200.8 218.2 236.6 255.5 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 19

20 Investment in finance company subs. 25.5 27.3 23.5 1.1 27.9 84.9 100.0 124.7 138.5 128.8 20

21 Other 2075.1 2327.7 2478.0 3243.0 3981.1 5127.2 5177.0 5135.3 5023.8 5258.1 21

22 Total liabilities 6009.5 6378.6 6628.8 7457.6 8407.3 9611.4 9809.5 9922.8 9867.4 10349.3 22

23 Credit market instruments 2940.2 3140.0 3472.1 3855.2 4276.0 4637.9 4833.7 4856.6 4973.9 5177.9 23

24 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 24

25 Municipal securities (2) 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.8 164.2 169.4 25

26 Corporate bonds (1) 1357.2 1485.2 1666.3 1881.2 2107.1 2271.1 2614.5 2747.9 2900.1 2975.6 26

27 Bank loans n.e.c. 601.8 642.1 692.7 768.8 808.8 852.7 743.7 635.5 548.3 547.2 27

28 Other loans and advances (3) 469.4 488.1 539.7 600.4 633.1 715.8 721.5 743.4 750.3 805.4 28

29 Mortgages 219.6 230.4 262.8 264.0 343.9 365.8 418.5 449.2 528.6 582.6 29

30 Trade payables 877.5 927.0 992.1 1049.7 1228.2 1541.4 1437.7 1457.4 1402.7 1499.9 30

31 Taxes payable 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 31

32 Miscellaneous liabilities 2151.6 2261.6 2105.3 2488.7 2832.0 3354.0 3457.1 3515.9 3409.5 3583.5 32

33 Foreign direct investment in U.S. 640.2 696.0 747.2 807.6 898.8 1110.2 1228.2 1163.3 1192.5 1231.2 33

34 Pension fund contributions payable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 34

35 Other 1427.6 1476.5 1260.6 1570.6 1841.1 2170.8 2180.4 2302.6 2167.3 2305.6 35

 Memo:

36 Trade receivables net of payables 307.4 346.1 369.0 398.7 429.4 397.8 380.2 262.2 299.7 331.3 36

37 Market value of equities 6406.8 6804.3 8674.7 10962.4 14476.8 12444.5 10868.6 8212.4 10845.4 12086.2 37

38 Securities and mortgages 1711.6 1853.4 2071.1 2293.0 2603.8 2791.1 3190.7 3357.8 3592.9 3727.6 38

39 Loans and short-term paper 1228.5 1286.6 1401.0 1562.2 1672.3 1846.8 1642.9 1498.8 1381.1 1450.3 39

40 Total short-term liabilities (4) 2146.4 2263.5 2452.3 2675.9 2971.5 3466.3 3161.7 3049.1 2865.0 3038.2 40

41 Total liquid assets (5) 567.7 644.9 660.2 746.1 891.4 983.5 1020.8 1035.8 1178.8 1276.0 41

 Analytical measures (percent)

42 Long-term debt/credit market debt 58.2 59.0 59.7 59.5 60.9 60.2 66.0 69.1 72.2 72.0 42

43 Short-term debt/credit market debt 41.8 41.0 40.3 40.5 39.1 39.8 34.0 30.9 27.8 28.0 43

44 Liquid assets/short-term liabilities 26.4 28.5 26.9 27.9 30.0 28.4 32.3 34.0 41.1 42.0 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 11, plus line 14.
FFA, 1995-2004, December 11, 2008 57

L.103 Nonfarm Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 548.1 643.2 773.8 992.3 1176.1 1422.9 1578.8 1657.0 1752.5 2049.8 1

 2 Checkable deposits and currency 104.7 124.0 146.2 150.9 155.6 164.1 164.5 167.1 172.9 259.2 2

 3 Time and savings deposits 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 318.0 3

 4 Money market fund shares 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 69.2 4

 5 Treasury securities 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 5

 6 Municipal securities 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 6

 7 Mortgages 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 7

 8 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Trade receivables 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 9

10 Miscellaneous assets 167.0 203.5 259.9 382.1 463.8 553.7 683.6 724.2 790.6 953.7 10

11 Insurance receivables 44.2 44.8 45.2 45.6 45.9 45.8 48.3 52.5 56.9 60.5 11

12 Equity investment in GSEs (1) 1.0 1.7 1.7 1.6 1.6 1.6 1.8 1.8 2.1 2.0 12

13 Other 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 731.6 891.3 13

14 Total liabilities 1396.6 1529.1 1717.9 2019.8 2332.2 2673.0 2888.2 3084.1 3172.4 3516.8 14

15 Credit market instruments 1062.1 1131.1 1228.8 1404.2 1599.4 1795.8 1957.3 2107.1 2198.7 2443.8 15

16 Bank loans n.e.c. 164.7 193.6 237.3 262.1 312.8 361.2 405.3 430.4 441.7 468.9 16

17 Other loans and advances 92.4 94.4 100.6 107.1 116.5 126.9 123.2 126.9 131.6 132.8 17

18 Mortgages 805.0 843.2 890.9 1035.1 1170.1 1307.6 1428.8 1549.8 1625.3 1842.1 18

19 Trade payables 86.2 116.8 147.8 178.6 213.3 259.9 255.0 281.0 255.3 277.4 19

20 Taxes payable 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 20

21 Miscellaneous liabilities 214.8 245.5 301.3 392.9 466.5 552.6 607.3 625.9 648.8 717.6 21

(1) Equity in the Farm Credit System.

L.104 Farm Business (1)

Billions of dollars

 1 Total financial assets 49.1 49.0 49.7 54.7 56.5 57.1 58.9 60.4 62.4 65.5 1

 2 Checkable deposits and currency 16.7 16.7 16.9 18.6 19.2 19.4 20.0 20.6 21.2 22.3 2

 3 Miscellaneous assets 32.4 32.3 32.8 36.1 37.3 37.7 38.9 39.9 41.2 43.2 3

 4 Insurance receivables 30.2 30.8 31.3 34.5 35.7 36.0 36.8 37.8 38.7 40.5 4

 5 Equity investment in GSEs (2) 2.2 1.5 1.5 1.7 1.6 1.6 2.0 2.1 2.5 2.7 5

 6 Total liabilities 143.0 148.6 156.9 164.6 167.7 163.9 170.7 177.2 175.1 183.0 6

 7 Credit market instruments 131.4 135.5 142.8 150.9 154.2 156.1 162.6 169.7 168.0 174.1 7

 8 Bank loans n.e.c. 39.7 40.4 43.9 45.1 44.2 46.9 46.9 46.0 45.5 47.7 8

 9 Other loans and advances 19.9 20.7 20.4 22.7 22.8 24.5 27.1 28.3 28.4 29.5 9

10 Mortgages (3) 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 94.1 96.9 10

11 Trade payables 11.6 13.0 14.1 13.7 13.5 7.8 8.1 7.6 7.1 8.9 11

(1) Corporate and noncorporate farms.

(2) Equity in the Farm Credit System.

(3) Excludes mortgages on farm houses.
58 FFA, 1995-2004, December 11, 2008

L.105 State and Local Governments (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1121.7 1162.6 1286.9 1474.8 1601.1 1661.9 1748.2 1799.9 1908.2 2029.5 1

 2 Checkable deposits and currency 33.3 27.8 32.2 28.3 32.2 32.3 36.3 41.5 48.4 42.2 2

 3 Time and savings deposits 62.0 72.6 78.4 93.2 107.2 117.8 129.8 138.7 159.0 170.6 3

 4 Money market fund shares 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 62.7 66.6 4

 5 Security RPs 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 123.5 131.2 5

 6 Credit market instruments 638.6 604.8 605.0 714.6 816.5 887.3 981.2 1067.4 1125.6 1198.1 6

 7 Open market paper 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 161.6 171.7 7

 8 Treasury securities 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 364.2 389.1 8

 9 Agency- and GSE-backed securities 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 351.2 373.2 9

10 Municipal securities 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.4 4.7 10

11 Corporate and foreign bonds 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 111.3 118.2 11

12 Mortgages 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 132.9 141.2 12

13 Corporate equities 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 84.7 90.0 13

14 Mutual fund shares 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 25.9 27.5 14

15 Trade receivables 77.3 82.9 89.2 96.3 104.9 109.9 115.9 118.4 126.5 134.4 15

16 Taxes receivable 18.6 14.0 14.3 17.1 27.6 42.4 46.1 50.8 68.4 89.0 16

17 Miscellaneous assets 104.2 112.7 188.8 190.4 176.8 151.6 133.9 105.4 83.5 80.0 17

18 Total liabilities 1275.7 1273.3 1343.5 1431.0 1491.1 1533.0 1665.4 1837.8 1987.0 2132.9 18

19 Credit market instruments 1046.7 1026.2 1076.9 1143.8 1181.0 1197.9 1303.4 1447.5 1567.6 1683.0 19

20 Municipal securities 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.5 1437.9 1557.9 1673.0 20

21 Short-term 34.4 40.7 49.0 42.7 45.3 46.6 70.5 95.7 106.1 100.2 21

22 Other 1002.6 980.7 1018.0 1090.9 1127.2 1142.4 1224.0 1342.2 1451.8 1572.8 22

23 U.S. government loans 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 23

24 Trade payables 228.9 247.1 266.6 287.3 310.1 335.1 361.9 390.3 419.5 449.9 24

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

L.106 Federal Government

Billions of dollars

 1 Total financial assets 431.7 511.5 508.4 500.4 600.9 545.2 613.9 629.4 629.6 609.5 1

 2 Gold, SDRs, and official foreign exchange 53.8 44.9 42.0 51.0 44.4 41.0 43.1 51.1 55.1 54.5 2

 3 Checkable deposits and currency 22.2 38.3 41.6 23.2 87.9 24.3 66.9 47.5 54.1 21.9 3

 4 Time and savings deposits 0.9 2.4 3.4 4.7 5.4 6.3 10.5 27.6 2.4 2.4 4

 5 Credit market instruments 197.6 201.6 213.1 218.8 256.3 264.3 268.2 276.2 273.6 275.9 5

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

 7 Other loans and advances 130.9 133.7 139.7 137.4 130.6 127.8 120.0 119.4 117.5 114.4 7

 8 Mortgages 57.5 50.3 45.7 44.9 77.7 76.9 75.8 76.3 73.8 75.4 8

 9 Consumer credit (1) 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 9

10 Trade receivables 23.1 24.0 20.8 22.3 22.9 28.1 35.5 32.2 51.3 61.8 10

11 Taxes receivable 17.3 90.2 82.9 79.2 83.7 82.2 89.4 94.4 91.4 90.7 11

12 Miscellaneous assets 116.9 110.2 104.8 101.2 100.3 98.9 100.3 100.3 101.7 102.3 12

13 Total liabilities 4289.2 4491.2 4546.9 4529.4 4503.8 4232.8 4293.9 4583.7 5096.5 5533.3 13

14 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 14

15 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 15

16 Credit market instruments 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 16

17 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 17

18 Other Treasury securities 3423.5 3568.1 3591.8 3537.0 3466.2 3173.0 3162.4 3414.9 3804.4 4166.3 18

19 Budget agency securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 19

20 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Trade payables 81.1 81.8 72.9 65.0 70.2 74.6 78.0 78.8 151.2 166.3 21

22 Insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 22

23 Miscellaneous liabilities (2) 513.0 568.7 608.3 649.6 690.6 711.3 772.0 800.9 843.6 901.6 23

24 Nonmarketable securities held by pension plans 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 24

25 Other 6.7 7.3 6.6 6.7 6.6 6.4 6.2 10.6 28.6 45.7 25

(1) Student loans.

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

 retirement fund, and foreign service retirement and disability fund.
FFA, 1995-2004, December 11, 2008 59

L.107 Rest of the World

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 3451.5 4001.3 4751.0 5320.5 6040.6 6828.1 7311.6 7795.0 8790.8 10523.4 1

 2 Net interbank assets 229.3 177.3 173.0 145.9 140.3 161.1 115.5 119.7 109.6 118.3 2

 3 U.S. checkable deposits and currency 158.5 175.2 202.7 213.2 237.5 236.3 255.1 273.4 262.9 285.3 3

 4 U.S. time deposits 40.0 50.9 63.9 115.9 118.8 101.5 102.1 143.3 115.0 149.2 4

 5 Money market fund shares 5.1 5.8 6.6 7.3 8.1 11.2 15.1 16.3 18.8 22.9 5

 6 Security RPs 67.6 70.9 90.8 72.0 79.9 91.3 151.1 190.1 460.2 665.1 6

 7 Credit market instruments 1464.8 1795.6 2035.6 2202.0 2196.1 2451.1 2850.2 3303.0 3836.1 4634.7 7

 8 Open market paper 43.4 57.9 77.8 111.4 105.0 114.3 108.4 126.6 192.8 229.8 8

 9 Treasury securities 816.9 1040.3 1153.2 1166.2 1058.4 1021.4 1095.2 1285.5 1513.5 1813.6 9

10 Official 490.0 606.4 615.1 622.9 617.7 639.8 720.1 812.0 986.3 1251.9 10

11 Private 327.0 433.9 538.1 543.3 440.7 381.6 375.1 473.5 527.2 561.6 11

12 Agency- and GSE-backed securities 123.1 134.4 157.3 185.6 232.3 348.2 504.1 629.8 654.8 875.0 12

13 Official 17.5 24.7 33.1 46.8 76.1 116.4 171.7 214.2 262.9 372.6 13

14 Private 105.5 109.7 124.2 138.7 156.2 231.9 332.4 415.6 391.8 502.4 14

15 Municipal securities 4.0 4.9 5.9 6.8 7.8 8.0 8.0 11.5 19.5 26.0 15

16 U.S. corporate bonds (1) 355.3 432.1 498.2 589.7 673.1 841.8 1018.7 1123.8 1330.6 1559.1 16

17 Loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 17

18 U.S. corporate equities 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1221.6 1674.6 1904.6 18

19 Mutual fund shares 59.9 82.3 109.0 135.1 169.5 149.0 116.6 98.0 146.1 195.8 19

20 Trade receivables 49.3 54.9 55.8 49.3 49.7 49.4 46.2 48.8 50.1 49.0 20

21 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Miscellaneous assets 892.5 1004.1 1176.3 1272.0 1606.6 2094.1 2218.8 2380.8 2117.4 2498.5 22

23 Foreign direct investment in U.S. (2) 680.1 745.6 824.1 920.0 1101.7 1421.0 1518.5 1500.0 1581.0 1742.7 23

24 Other 212.5 258.5 352.1 351.9 504.9 673.1 700.3 880.9 536.4 755.8 24

25 Total liabilities 2104.5 2370.8 2792.9 3025.0 3515.8 3788.1 3830.6 4298.7 4759.7 5856.3 25

 U.S. official foreign exchange

26 and net IMF position 63.7 53.7 48.9 60.1 50.1 46.1 46.8 55.8 62.3 62.2 26

27 U.S. private deposits 418.8 521.7 618.5 627.6 676.5 803.3 810.1 831.1 867.1 957.0 27

28 Credit market instruments 567.6 657.2 723.6 783.2 748.2 814.5 865.4 1072.8 1252.7 1437.7 28

29 Commercial paper 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 275.5 344.2 29

30 Bonds 413.3 481.4 543.4 594.4 548.2 572.7 557.1 702.7 868.9 985.0 30

31 Bank loans n.e.c. 34.6 43.7 52.1 58.7 59.2 70.5 63.2 68.6 66.1 69.9 31

32 Official 2.6 2.9 2.1 2.8 3.0 3.5 4.3 5.1 4.5 5.5 32

33 Banks 10.9 14.3 13.8 13.1 9.9 13.2 5.9 5.1 8.9 13.4 33

34 Other 21.1 26.5 36.3 42.8 46.4 53.8 53.1 58.4 52.7 51.0 34

35 U.S. government loans 55.4 54.8 53.3 52.4 47.8 47.2 46.1 44.1 42.0 38.3 35

36 Acceptance liabilities to banks 8.2 9.9 9.7 4.7 3.9 3.1 0.5 0.2 0.2 0.3 36

37 Trade payables 46.5 44.8 50.0 46.1 50.4 51.2 43.5 38.6 44.7 48.2 37

38 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Miscellaneous liabilities 1007.8 1093.3 1351.8 1508.0 1990.7 2073.0 2064.8 2300.3 2532.9 3351.3 39

40 U.S. equity in IBRD, etc. 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 40

41 Nonofficial foreign currencies 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.8 2.8 41

42 U.S. direct investment abroad (1,2) 885.5 989.8 1068.1 1196.0 1414.4 1531.6 1693.1 1867.0 2054.5 2498.5 42

43 Other 92.6 72.2 250.9 277.7 539.9 503.5 332.1 392.1 435.7 808.0 43

 Memo:

44 Market value of foreign equities 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 44

 held by U.S. residents (3)

(1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.

(2) Direct investment is valued on a current-cost basis.

(3) Includes American Depositary Receipts (ADRs).
60 FFA, 1995-2004, December 11, 2008

L.108 Monetary Authority (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 471.9 495.2 534.0 566.8 696.9 636.0 683.0 753.6 796.9 841.3 1

 2 Gold and foreign exchange 32.1 30.2 28.0 30.7 27.1 26.6 25.5 27.9 30.8 32.3 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 3

 4 Treasury currency 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 5

 6 Federal Reserve loans to domestic banks 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 6

 7 Discount window (2) 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 7

 8 AMLF (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security RPs 13.9 21.6 23.8 30.4 140.6 43.4 50.3 39.5 43.8 33.0 9

10 Credit market instruments 380.8 393.1 431.4 452.5 478.1 511.8 551.7 629.4 666.7 717.8 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 11

12 Treasury securities 378.2 390.9 430.7 452.1 478.0 511.7 551.7 629.4 666.7 717.8 12

13 Agency- and GSE-backed securities 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 13

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

15 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Brokers and dealers (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Funding corporations (Maiden Lane) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Miscellaneous assets 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 19

20 Nonofficial foreign currencies (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Other 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 21

22 Total liabilities 467.9 490.7 528.8 560.9 690.5 629.2 675.7 745.3 788.0 829.7 22

23 Depository institution reserves 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 23

24 Vault cash of commercial banks 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 24

25 Checkable deposits and currency 391.2 414.4 444.3 483.3 591.6 556.4 603.8 645.7 683.1 720.8 25

26 Due to federal government 6.2 8.0 5.7 6.2 28.5 5.6 7.1 4.8 6.0 6.2 26

27 Treasury cash holdings 0.3 0.2 0.2 0.1 0.1 0.5 0.4 0.4 0.3 0.3 27

28 Treasury general deposit account 6.0 7.7 5.4 6.1 28.4 5.1 6.6 4.4 5.7 5.9 28

29 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Due to rest of the world 0.4 0.2 0.5 0.2 0.1 0.3 0.1 0.1 0.2 0.1 30

31 Due to government-sponsored enterprises 0.8 0.8 0.8 1.5 1.1 1.2 0.7 1.1 0.6 1.1 31

32 Currency outside banks 383.7 405.5 437.3 475.4 561.8 549.3 596.0 639.7 676.2 713.3 32

33 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 25.7 30.8 33

34 Miscellaneous liabilities 6.6 6.6 8.7 9.2 8.3 9.3 7.0 8.1 8.3 12.5 34

35 Federal Reserve Bank stock 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 35

36 Other 2.6 2.0 3.2 3.3 1.9 2.3 -0.3 -0.2 -0.6 0.6 36

(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.

(4) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility and the AMLF.

(5) 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.

(6) Reciprocal currency arrangements (swap lines) with foreign central banks.
FFA, 1995-2004, December 11, 2008 61

L.109 Commercial Banking (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 4493.9 4710.4 5174.6 5628.7 5985.6 6468.7 6829.1 7329.4 7824.9 8559.9 1

 2 Vault cash 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 2

 3 Reserves at Federal Reserve 27.0 22.3 29.1 24.5 22.5 17.4 15.2 19.7 19.7 20.8 3

 4 Checkable deposits and currency 1.6 1.4 1.4 2.0 2.2 1.7 2.8 2.5 2.5 3.5 4

 5 Total bank credit 3604.6 3794.5 4144.5 4483.6 4788.5 5200.8 5411.3 5811.4 6222.9 6832.5 5

 6 Open market paper 5.7 6.5 2.7 1.1 1.4 1.5 0.0 0.0 0.0 0.0 6

 7 Treasury securities 278.7 261.8 270.1 214.1 228.9 184.5 162.7 205.8 132.3 107.8 7

 8 Agency- and GSE-backed securities 467.5 495.7 571.2 663.2 699.6 721.8 777.4 917.9 1000.0 1095.0 8

 9 Municipal securities 93.4 94.2 96.7 104.8 110.8 114.1 120.2 121.7 132.7 140.8 9

10 Corporate and foreign bonds 110.5 111.6 140.5 176.2 210.1 266.1 363.1 359.9 481.2 563.6 10

11 Bank loans n.e.c. 949.6 1041.7 1169.8 1316.4 1386.2 1499.6 1424.3 1344.2 1318.4 1391.2 11

12 Mortgages 1090.2 1145.4 1245.3 1337.0 1495.4 1660.1 1789.8 2058.3 2255.8 2595.6 12

13 Consumer credit 502.3 527.5 515.1 512.0 507.8 551.1 568.4 602.6 669.4 704.3 13

14 Security credit 99.5 100.8 122.5 142.8 124.8 175.2 175.2 177.9 200.9 195.8 14

15 Corporate equities 5.0 6.8 2.6 6.8 11.3 11.9 8.9 3.5 15.0 20.3 15

16 Mutual fund shares 2.3 2.6 8.1 9.1 12.4 15.0 21.3 19.6 17.1 18.1 16

17 Customers’ liab. on acceptances (2) 22.3 23.4 20.6 11.3 8.2 7.5 4.6 4.6 4.4 4.0 17

18 Miscellaneous assets 797.8 823.7 934.0 1065.2 1097.7 1196.9 1347.9 1443.4 1527.5 1657.5 18

19 Total liabilities 4299.3 4509.9 4995.6 5401.4 5691.2 6235.1 6574.2 7104.0 7582.8 8361.1 19

20 Net interbank liabilities 220.6 171.1 143.6 121.1 114.9 157.8 126.6 135.7 122.0 146.6 20

21 To monetary authority 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 21

22 To domestic banks (3) -8.9 -10.6 -32.1 -26.5 -25.3 -4.3 11.1 15.5 12.7 27.3 22

23 To foreign banks 229.3 177.3 173.0 145.9 140.3 161.1 115.5 119.7 109.6 118.3 23

24 Checkable deposits 710.8 676.3 656.4 622.9 626.4 540.9 628.8 571.5 607.2 646.7 24

25 Federal government 19.0 28.7 27.8 13.2 49.6 16.4 47.5 31.1 30.2 26.9 25

26 Rest of the world 24.1 26.9 31.7 28.6 28.6 30.7 25.8 25.2 4.0 13.2 26

27 Private domestic 667.7 620.7 597.0 581.1 548.2 493.8 555.6 515.3 573.0 606.6 27

28 Small time and savings deposits 1490.1 1613.2 1761.5 1945.2 2017.1 2228.7 2478.1 2747.6 2979.2 3259.8 28

29 Large time deposits 387.8 493.1 601.0 673.1 792.6 885.4 918.1 915.3 928.1 1120.6 29

30 Federal funds and security RPs (net) 388.1 425.8 494.8 534.7 604.5 644.1 590.3 675.2 713.2 726.4 30

31 Credit market instruments 250.6 263.6 309.2 382.1 449.3 509.3 562.1 611.8 660.4 738.7 31

32 Open market paper 52.8 55.7 58.5 56.9 63.1 63.6 55.4 52.9 46.6 57.2 32

33 Corporate bonds 161.1 168.9 192.6 220.2 240.6 273.2 310.2 332.2 378.4 437.4 33

34 Other loans and advances 36.7 39.0 58.1 104.9 145.6 172.4 196.6 226.8 235.3 244.1 34

35 Taxes payable 2.8 4.0 5.4 7.1 9.0 11.1 13.5 16.2 19.1 22.2 35

36 Miscellaneous liabilities 848.4 863.0 1023.7 1115.2 1077.4 1257.8 1256.6 1430.8 1553.6 1700.0 36

 Memo:

37 Credit market funds advanced (4) 3520.1 3707.7 4031.9 4336.1 4648.3 5006.3 5210.5 5614.9 5994.3 6602.3 37

38 Consumer leases not included above (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 tangible asset.
62 FFA, 1995-2004, December 11, 2008

L.110 U.S.-Chartered Commercial Banks

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 3321.8 3444.5 3742.3 4080.7 4434.3 4774.1 5014.5 5427.2 5838.0 6398.6 1

 2 Vault cash and reserves at Federal Reserve 66.7 66.3 71.2 65.5 87.6 61.3 61.9 66.3 66.8 61.6 2

 3 Total bank credit 3116.3 3231.5 3512.2 3844.6 4164.5 4515.2 4718.6 5102.3 5510.4 6099.0 3

 4 Open market paper 3.9 4.2 2.3 0.8 0.7 0.9 0.0 0.0 0.0 0.0 4

 5 Treasury securities 207.6 173.0 166.8 124.8 122.8 87.9 56.5 86.4 93.5 74.2 5

 6 Agency- and GSE-backed securities 421.5 436.7 497.2 578.9 608.3 626.5 700.2 821.3 906.4 996.1 6

 7 Mortgage pass-through securities 195.1 216.6 247.7 301.5 283.7 297.8 350.6 434.9 491.4 581.7 7

 8 CMOs and other structured MBS 101.0 89.5 107.0 115.9 120.9 111.0 168.2 159.1 161.5 156.7 8

 9 Other 125.3 130.7 142.4 161.5 203.8 217.6 181.4 227.4 253.5 257.7 9

10 Municipal securities 92.7 93.7 96.1 104.4 110.2 113.4 119.7 121.2 132.1 140.4 10

11 Corporate and foreign bonds 68.9 64.1 83.3 113.6 151.3 201.4 265.1 264.3 305.8 364.6 11

12 Private mortgage pass-through securities 4.5 4.2 3.0 3.9 4.5 4.1 25.3 12.0 12.2 18.9 12

13 Private CMOs and other structured MBS 24.9 21.8 22.5 42.8 48.8 56.5 59.3 67.4 92.6 108.0 13

14 Other 39.5 38.2 57.9 66.9 98.1 140.8 180.5 185.0 201.0 237.7 14

15 Bank loans n.e.c. 701.6 759.8 867.9 1013.5 1106.8 1205.4 1143.8 1085.7 1066.3 1131.6 15

16 Mortgages 1045.4 1102.9 1208.4 1304.3 1465.4 1627.0 1752.8 2018.5 2213.3 2547.3 16

17 Consumer credit 502.3 527.5 515.1 512.0 507.8 551.1 568.4 602.6 669.4 704.3 17

18 Security credit 65.1 60.2 64.4 76.3 67.6 74.7 81.9 79.2 91.4 102.2 18

19 Corporate equities 5.0 6.8 2.6 6.8 11.3 11.9 8.9 3.5 15.0 20.3 19

20 Mutual fund shares 2.3 2.6 8.1 9.1 12.4 15.0 21.3 19.6 17.1 18.1 20

21 Customers’ liab. on acceptances (1) 12.3 13.9 13.7 9.1 6.6 5.9 3.6 3.9 3.8 3.3 21

22 Miscellaneous assets 126.6 132.8 145.2 161.5 175.6 191.7 230.4 254.7 257.0 234.6 22

23 Total liabilities 3423.6 3561.3 3902.4 4248.9 4543.2 4997.7 5259.1 5721.4 6140.4 6925.0 23

24 Net interbank liabilities 54.5 0.4 3.0 25.3 60.0 137.5 138.2 192.6 184.6 274.4 24

25 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 25

26 Borrowing from Federal Reserve banks 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 26

27 To domestic banks -19.9 -41.8 -50.2 -50.8 -64.1 -33.0 -17.7 0.3 -53.1 -20.3 27

28 To foreign banks 74.1 37.8 50.4 74.4 124.1 169.5 155.9 191.8 238.0 293.8 28

29 Checkable deposits 695.8 661.4 640.3 605.8 608.7 523.7 608.2 552.7 585.8 624.5 29

30 Federal government 19.0 28.7 27.8 13.2 49.6 16.4 47.5 31.1 30.2 26.9 30

31 Rest of the world 18.1 21.6 26.0 23.2 22.7 25.0 22.6 22.3 1.5 11.2 31

32 Private domestic 658.6 611.1 586.5 569.4 536.5 482.3 538.2 499.3 554.1 586.4 32

33 Small time and savings deposits 1471.3 1594.2 1738.0 1924.4 1997.4 2208.0 2448.3 2722.0 2951.6 3231.3 33

34 Large time deposits 256.5 306.1 369.3 404.1 465.7 553.6 528.4 552.7 555.7 671.3 34

35 Federal funds and security RPs (net) 345.5 370.8 414.3 434.0 521.5 510.4 467.6 510.7 553.4 568.0 35

36 Acceptance liabilities 12.3 14.0 13.7 9.1 6.6 6.0 3.7 3.9 3.8 3.4 36

37 Corporate bonds 43.3 50.9 61.6 72.1 75.8 86.4 94.7 94.1 98.9 109.3 37

38 Other loans and advances 36.7 39.0 58.1 104.9 145.6 172.4 196.6 226.8 235.3 244.1 38

39 Taxes payable 2.8 4.0 5.4 7.1 9.0 11.1 13.5 16.2 19.1 22.2 39

40 Miscellaneous liabilities 505.0 520.6 598.7 662.0 653.1 788.6 759.8 849.8 952.2 1176.6 40

41 Investment by bank holding companies 344.3 372.9 413.6 469.0 471.9 525.4 586.1 639.2 689.8 857.0 41

42 Other 160.7 147.7 185.1 193.0 181.2 263.2 173.7 210.6 262.4 319.7 42

 Memo:

43 Credit market funds advanced (2) 3056.1 3175.8 3450.7 3761.4 4080.0 4419.5 4610.1 5003.9 5390.6 5961.8 43

44 Consumer leases not included above (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

(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 tangible asset.
FFA, 1995-2004, December 11, 2008 63

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 666.3 714.8 811.3 806.5 750.9 789.4 791.9 801.1 750.2 632.7 1

 2 Reserves at Federal Reserve 0.8 1.1 2.9 1.0 1.4 0.5 0.6 1.2 0.9 0.7 2

 3 Total bank credit 436.9 507.0 567.2 568.7 543.0 610.2 603.0 615.0 599.2 606.3 3

 4 Open market paper 1.7 2.3 0.4 0.3 0.6 0.6 0.0 0.0 0.0 0.0 4

 5 Treasury securities 62.3 80.7 95.1 84.8 94.5 94.0 103.8 116.7 33.7 27.8 5

 6 Agency- and GSE-backed securities 37.3 49.7 62.2 67.4 72.4 72.7 50.7 61.6 53.0 51.8 6

 7 Municipal securities 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 33.5 36.6 41.3 46.9 42.4 50.7 81.3 81.6 159.8 182.2 8

 9 Bank loans n.e.c. 232.6 264.8 284.0 282.4 260.0 274.6 256.1 237.5 225.7 234.0 9

10 Mortgages 35.1 32.2 26.1 20.4 15.9 17.1 17.9 19.0 17.5 16.9 10

11 Security credit 34.4 40.6 58.0 66.5 57.2 100.5 93.3 98.7 109.5 93.7 11

12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Customers’ liab. on acceptances (2) 10.1 9.4 6.9 2.2 1.6 1.6 1.0 0.6 0.6 0.7 13

14 Miscellaneous assets 218.5 197.2 234.3 234.5 204.9 177.1 187.2 184.2 149.5 25.0 14

15 Total liabilities 681.3 731.9 830.8 828.8 776.4 818.4 824.8 838.4 792.4 680.2 15

16 Net interbank liabilities 181.0 178.6 148.2 93.2 48.2 7.4 -9.3 -51.6 -69.0 -135.8 16

17 To foreign banks 173.6 162.1 144.4 92.7 41.5 -15.5 -50.9 -83.1 -95.3 -167.9 17

18 To domestic banks 7.5 16.5 3.8 0.4 6.7 22.9 41.6 31.5 26.4 32.1 18

19 Checkable deposits 8.7 8.0 8.8 8.6 9.1 8.7 9.1 8.4 9.5 8.7 19

20 Small time and savings deposits 8.5 8.7 13.1 9.4 7.5 7.2 11.6 9.4 10.2 9.5 20

21 Large time deposits 121.0 176.6 221.3 257.6 314.8 318.2 371.5 346.4 354.9 430.3 21

22 Federal funds and security RPs (net) 43.2 55.1 80.7 100.4 82.5 134.8 123.9 163.4 157.7 157.5 22

23 Acceptance liabilities 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 23

24 Miscellaneous liabilities 308.5 295.2 351.5 357.3 312.2 340.1 316.9 361.8 328.4 209.2 24

25 Foreign direct investment in U.S. 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 25

26 Due to affiliates 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 26

27 Other 225.1 200.5 233.9 220.6 157.2 137.2 141.0 161.2 108.5 -81.2 27

 Memo:

28 Credit market funds advanced (3) 412.6 475.8 516.1 504.5 487.4 511.3 510.7 516.9 490.3 513.3 28

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank.

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

(3) Total bank credit (line 3) less security credit (line 11) less corporate equities (line 12) plus customers’ liability on acceptances (line 13).
64 FFA, 1995-2004, December 11, 2008

L.112 Bank Holding Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 466.8 510.8 575.3 685.9 741.2 841.9 942.4 1025.8 1153.1 1429.0 1

 2 Credit market instruments 18.0 22.0 27.4 26.5 32.7 20.5 24.7 27.8 36.4 36.4 2

 3 Treasury securities 3.4 4.0 4.0 0.9 8.8 0.8 1.2 1.3 2.7 2.0 3

 4 Agency- and GSE-backed securities 4.7 4.9 5.5 6.6 5.4 4.8 6.2 10.7 11.6 13.5 4

 5 Corporate and foreign bonds 7.7 10.5 15.5 14.8 15.9 13.2 15.3 12.9 14.2 15.5 5

 6 Bank loans n.e.c. 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 6

 7 Miscellaneous assets 448.7 488.9 547.9 659.5 708.5 821.4 917.8 998.1 1116.7 1392.6 7

 8 Investment in bank subsidiaries 344.3 372.9 413.6 469.0 471.9 525.4 586.1 639.2 689.8 857.0 8

 9 Investment in nonbank subsidiaries 64.7 64.9 89.9 134.0 151.3 189.7 219.5 219.3 265.0 341.3 9

10 Other 39.8 51.1 44.4 56.5 85.4 106.3 112.2 139.5 161.9 194.4 10

11 Total liabilities 157.1 178.3 218.8 270.6 314.6 358.7 413.4 473.1 571.5 661.7 11

12 Net interbank liabilities -14.9 -7.9 -7.6 2.7 6.7 12.9 -2.3 -5.3 6.3 8.0 12

13 To domestic banks 3.5 14.7 14.3 23.9 32.1 5.8 -12.8 -16.4 39.4 15.5 13

14 To foreign banks -18.5 -22.6 -21.9 -21.3 -25.4 7.1 10.4 11.1 -33.1 -7.5 14

15 Federal funds and security RPs (net) -0.5 -0.2 -0.2 0.4 0.5 -1.1 -1.2 1.2 2.1 0.8 15

16 Credit market instruments 148.0 150.0 168.6 193.5 219.3 242.5 266.1 286.4 321.8 381.3 16

17 Commercial paper 30.1 32.0 37.6 45.4 54.5 55.7 50.6 48.3 42.3 53.1 17

18 Corporate bonds 117.9 118.0 131.0 148.1 164.8 186.8 215.5 238.1 279.5 328.2 18

19 Miscellaneous liabilities 24.6 36.3 57.9 74.1 88.1 104.4 150.8 190.9 241.4 271.6 19

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

Billions of dollars

 1 Total financial assets 39.0 40.3 45.8 55.5 59.2 63.3 80.2 75.2 83.6 99.5 1

 2 Checkable deposits and currency 1.6 1.4 1.4 2.0 2.2 1.7 2.8 2.5 2.5 3.5 2

 3 Credit market instruments 33.4 34.1 37.8 43.8 48.3 55.0 65.0 66.3 76.9 90.8 3

 4 Treasury securities 5.4 4.1 4.2 3.6 2.8 1.8 1.2 1.5 2.5 3.8 4

 5 Agency- and GSE-backed securities 4.0 4.3 6.3 10.2 13.5 17.8 20.3 24.2 28.9 33.6 5

 6 Municipal securities 0.7 0.5 0.5 0.5 0.6 0.7 0.5 0.5 0.6 0.3 6

 7 Corporate and foreign bonds 0.4 0.3 0.4 1.0 0.5 0.8 1.4 1.1 1.4 1.3 7

 8 Bank loans n.e.c. 13.1 14.6 15.5 16.3 16.9 18.0 22.5 18.2 18.5 20.3 8

 9 Home mortgages 5.7 6.3 6.4 7.5 8.1 9.1 8.2 9.7 12.2 15.6 9

10 Commercial mortgages 4.0 3.9 4.4 4.8 6.0 6.8 11.0 11.2 12.8 15.9 10

11 Miscellaneous assets 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 11

12 Total liabilities 37.2 38.6 43.7 53.1 56.9 60.4 76.8 71.1 78.6 94.0 12

13 Checkable deposits 6.4 6.9 7.3 8.5 8.5 8.4 11.5 10.4 11.9 13.5 13

14 Small time and savings deposits 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 14

15 Large time deposits 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 15

16 Miscellaneous liabilities 10.3 10.9 15.6 21.9 24.1 24.8 29.0 28.3 31.7 42.5 16

(1) Commercial banks and branches of U.S.-chartered commercial banks located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.
FFA, 1995-2004, December 11, 2008 65

L.114 Savings Institutions (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1012.8 1031.7 1028.6 1088.6 1150.5 1217.7 1291.4 1349.5 1465.9 1649.6 1

 2 Reserves at Federal Reserve 2.6 2.3 1.7 1.8 1.6 1.6 2.3 2.8 3.4 3.3 2

 3 Checkable deposits and currency 15.6 14.2 15.2 18.5 20.6 19.0 21.0 24.8 24.8 21.3 3

 4 Time and savings deposits 1.1 1.4 1.0 1.5 1.3 1.4 2.2 2.6 2.6 3.2 4

 5 Federal funds and security RPs 11.2 10.0 9.2 14.8 10.6 14.9 20.3 20.0 12.3 9.1 5

 6 Credit market instruments 913.3 933.2 928.5 965.5 1032.6 1088.8 1133.2 1166.6 1293.9 1417.4 6

 7 Open market paper 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 18.4 17.4 14.6 10.2 10.1 8.7 11.4 9.2 12.2 8.4 8

 9 Agency- and GSE-backed securities 164.6 156.1 155.3 143.7 147.1 140.4 161.4 176.2 198.8 136.4 9

10 Mortgage pass-through securities 134.8 127.8 124.1 117.2 115.7 109.0 115.7 132.7 113.8 90.4 10

11 CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24.3 23.4 11

12 Other 29.8 28.3 31.2 26.5 31.4 31.4 45.7 43.5 60.6 22.7 12

13 Municipal securities 2.0 2.1 2.1 2.5 3.0 3.2 4.5 5.5 6.3 7.1 13

14 Corporate and foreign bonds 78.5 68.6 58.7 88.6 111.9 109.4 83.9 79.9 71.9 59.2 14

15 Private mortgage pass-through securities 24.7 21.0 15.1 13.2 18.4 19.0 13.2 10.6 10.7 8.2 15

16 Private CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.7 40.5 16

17 Other 53.9 47.6 43.6 75.4 93.6 90.4 70.7 69.3 55.5 10.5 17

18 Other loans and advances 12.8 15.7 18.8 24.2 30.6 39.3 42.9 46.2 56.3 57.6 18

19 Mortgages 596.8 628.3 631.8 644.0 668.1 723.0 758.0 781.0 870.6 1057.4 19

20 Consumer credit 40.1 44.7 47.2 52.4 61.7 64.8 71.1 68.7 77.9 91.3 20

21 Corporate equities 14.3 17.8 23.3 24.5 23.8 24.2 27.9 29.1 30.4 28.2 21

22 Miscellaneous assets 54.7 52.9 49.7 62.1 60.0 67.6 84.5 103.6 98.5 167.0 22

23 Total liabilities 995.1 1010.5 1001.0 1058.8 1119.6 1185.8 1256.5 1310.2 1419.0 1597.2 23

24 Deposits 727.9 721.4 695.8 693.2 699.3 726.7 773.3 840.1 924.9 990.3 24

25 Checkable 78.5 77.2 71.9 71.1 69.0 70.3 73.5 75.3 80.7 81.2 25

26 Small time and savings 569.4 557.8 525.8 508.4 508.0 514.4 531.0 551.9 599.1 584.7 26

27 Large time 80.1 86.4 98.1 113.7 122.2 142.1 168.8 212.9 245.1 324.5 27

28 Security RPs 44.5 43.7 41.8 51.3 72.7 66.7 72.4 57.4 77.5 82.2 28

29 Credit market instruments 115.0 140.5 160.3 212.4 260.4 287.7 285.7 262.3 296.8 385.8 29

30 Corporate bonds 3.1 2.7 2.8 2.6 2.7 6.3 3.6 3.4 5.1 7.6 30

31 Bank loans n.e.c. 14.6 15.9 19.4 29.7 14.0 21.5 23.0 27.2 42.4 68.9 31

32 Other loans and advances 97.4 121.9 138.0 180.1 243.7 260.0 259.1 231.7 249.3 309.3 32

33 Taxes payable 1.6 1.4 1.8 2.0 2.0 2.5 1.7 1.5 1.3 1.9 33

34 Miscellaneous liabilities 106.0 103.4 101.4 99.8 85.1 102.3 123.3 148.9 118.5 136.9 34

35 Investment by parent 4.5 4.7 5.0 5.4 6.0 6.6 7.4 8.3 9.3 10.5 35

36 Other 101.5 98.8 96.4 94.4 79.2 95.7 115.9 140.6 109.2 126.5 36

(1) Savings and loan associations, mutual savings banks, and federal savings banks.
66 FFA, 1995-2004, December 11, 2008

L.115 Credit Unions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 310.7 330.1 353.8 391.5 414.5 441.1 505.5 564.0 617.2 654.7 1

 2 Checkable deposits and currency 7.4 7.5 8.1 9.1 26.4 26.7 36.8 38.4 41.5 40.2 2

 3 Time and savings deposits 17.1 16.4 17.0 23.4 16.6 15.5 23.0 24.6 27.1 26.4 3

 4 Federal funds and security RPs (net) 6.4 1.4 3.5 6.8 9.3 4.0 2.5 1.7 1.6 4.1 4

 5 Credit market instruments 263.0 288.5 305.3 324.2 351.7 379.7 421.2 465.4 516.6 556.4 5

 6 Open market paper 0.6 0.3 0.2 0.4 1.9 1.2 2.4 1.5 0.7 0.8 6

 7 Treasury securities 18.3 17.4 15.6 13.1 9.6 8.2 7.4 7.5 8.8 8.9 7

 8 Agency- and GSE-backed securities 45.7 50.7 51.0 58.4 61.3 60.9 80.6 79.1 94.3 93.1 8

 9 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 24.3 25.0 9

10 Home mortgages 66.5 76.0 86.0 96.9 111.0 124.9 141.3 159.4 182.6 213.2 10

11 Consumer credit 131.9 144.1 152.4 155.4 167.9 184.4 189.6 195.7 205.9 215.4 11

12 Mutual fund shares 2.8 2.6 2.4 3.6 2.5 2.2 3.7 3.5 4.1 3.1 12

13 Miscellaneous assets 13.9 13.7 17.6 24.3 8.0 12.9 18.3 30.4 26.3 24.5 13

14 Total liabilities 283.7 300.1 320.6 355.3 376.1 398.1 458.9 512.3 561.5 595.2 14

15 Shares/deposits 278.8 295.1 315.4 349.0 366.7 389.1 450.2 499.7 545.0 574.5 15

16 Checkable 30.9 32.5 36.6 43.0 45.4 51.3 54.7 60.5 66.5 74.1 16

17 Small time and savings 238.9 251.2 264.4 287.5 299.8 312.7 361.3 396.4 424.9 440.4 17

18 Large time 9.0 11.4 14.4 18.5 21.6 25.1 34.1 42.8 53.6 60.0 18

19 Other loans and advances 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 19

20 Miscellaneous liabilities 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 20

L.116 Property-Casualty Insurance Companies

Billions of dollars

 1 Total financial assets 740.3 770.0 843.5 876.4 872.7 862.0 859.9 939.8 1059.7 1156.5 1

 2 Checkable deposits and currency 4.9 3.9 4.2 4.0 4.3 3.7 13.1 25.9 34.6 25.9 2

 3 Security RPs 37.5 35.4 35.2 42.7 28.3 38.3 30.2 44.4 52.8 63.1 3

 4 Credit market instruments 468.7 491.2 515.3 521.1 518.2 509.4 518.4 558.3 625.2 698.8 4

 5 Treasury securities 133.4 120.9 91.1 70.4 60.6 52.1 52.0 61.2 64.7 71.3 5

 6 Agency- and GSE-backed securities 48.2 51.0 70.8 69.7 75.5 84.1 94.2 113.2 115.4 112.1 6

 7 Municipal securities 161.0 175.4 191.6 208.1 199.0 184.1 173.8 183.0 224.2 267.8 7

 8 Corporate and foreign bonds 123.3 141.6 159.5 171.1 181.1 187.5 196.4 198.9 218.9 245.3 8

 9 Commercial mortgages 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 9

10 Corporate equities 133.5 147.5 184.3 197.9 205.2 191.4 171.0 149.4 178.4 196.6 10

11 Mutual fund shares 0.7 1.0 1.7 2.2 2.7 2.9 3.0 3.0 4.3 5.2 11

12 Trade receivables 57.3 57.2 59.9 61.5 63.6 64.6 69.9 74.8 79.3 79.6 12

13 Miscellaneous assets 37.8 33.6 42.8 47.0 50.6 51.8 54.4 84.1 85.0 87.3 13

14 Total liabilities 510.7 521.4 535.7 543.1 551.8 562.7 597.0 641.3 696.5 741.8 14

15 Taxes payable 9.0 11.6 13.4 15.4 17.4 19.7 22.4 25.6 29.3 33.5 15

16 Miscellaneous liabilities 501.6 509.9 522.3 527.7 534.4 543.0 574.6 615.7 667.2 708.3 16
FFA, 1995-2004, December 11, 2008 67

L.117 Life Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 2063.6 2246.3 2514.8 2769.5 3067.9 3135.7 3224.6 3335.0 3772.8 4130.3 1

 2 Checkable deposits and currency 5.2 4.3 8.1 5.4 5.5 5.0 36.8 35.3 47.3 53.3 2

 3 Money market fund shares 22.8 61.9 92.8 110.4 131.8 142.3 173.3 159.8 151.4 120.7 3

 4 Credit market instruments 1587.5 1657.0 1751.1 1828.0 1886.0 1943.9 2074.8 2307.8 2488.3 2661.4 4

 5 Open market paper 45.5 48.4 65.9 73.4 75.8 71.2 59.3 74.0 55.9 48.2 5

 6 Treasury securities 108.1 93.2 85.5 71.3 62.8 58.1 53.7 78.5 71.8 78.5 6

 7 Agency- and GSE-backed securities 242.9 244.1 226.7 217.0 224.4 235.4 253.5 330.9 348.9 357.1 7

 8 Municipal securities 11.9 13.4 16.7 18.4 20.1 19.1 18.7 19.9 26.1 30.1 8

 9 Corporate and foreign bonds 867.0 946.2 1041.7 1124.4 1166.9 1214.8 1334.3 1440.0 1610.5 1756.3 9

10 Other loans and advances 99.0 103.6 107.9 109.9 105.4 109.3 112.2 114.4 114.2 117.8 10

11 Mortgages 213.1 208.2 206.8 213.6 230.8 235.9 243.0 250.0 260.9 273.3 11

12 Corporate equities 309.6 406.9 539.7 683.2 909.0 891.9 811.3 708.9 919.3 1053.9 12

13 Mutual fund shares 33.5 42.5 57.2 73.2 98.7 97.0 88.3 76.6 91.7 114.4 13

14 Miscellaneous assets 105.1 73.7 65.7 69.2 36.9 55.6 40.1 46.8 74.7 126.6 14

15 Total liabilities 1953.9 2115.6 2359.7 2599.7 2882.8 2942.8 3034.8 3140.4 3539.4 3869.7 15

16 Other loans and advances 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 16

17 Life insurance reserves 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 17

18 Pension fund reserves (1) 890.6 974.0 1116.3 1288.4 1478.4 1526.3 1558.5 1604.9 1803.2 2027.9 18

19 Taxes payable 12.0 12.5 13.7 14.9 16.2 17.8 19.7 22.1 24.9 28.1 19

20 Miscellaneous liabilities 514.5 547.4 595.2 609.2 636.1 613.6 611.2 626.7 730.6 783.9 20

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 20).

L.118 Private Pension Funds (1)

Billions of dollars

 1 Total financial assets 2898.8 3224.4 3712.9 4143.9 4593.8 4467.5 4048.2 3677.2 4520.1 4915.2 1

 2 Checkable deposits and currency 4.9 5.6 7.0 6.1 7.4 10.8 9.9 10.2 10.3 10.5 2

 3 Time and savings deposits 110.2 119.1 130.1 159.9 120.6 97.7 61.3 57.4 60.4 55.8 3

 4 Money market fund shares 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 4

 5 Security RPs 22.4 27.3 28.5 29.7 31.6 26.5 17.7 19.0 20.5 26.5 5

 6 Credit market instruments 608.4 602.3 646.8 639.7 746.9 621.9 585.8 577.3 646.5 646.1 6

 7 Open market paper 24.8 30.8 32.3 35.5 41.4 35.3 27.0 29.2 26.0 26.4 7

 8 Treasury securities 120.8 116.0 118.0 104.8 121.5 111.6 104.0 100.6 113.9 109.8 8

 9 Agency- and GSE-backed securities 213.1 201.8 207.9 190.7 230.3 197.4 202.5 183.2 221.4 232.8 9

10 Corporate and foreign bonds 241.1 244.5 278.5 298.9 341.9 265.7 242.5 253.9 274.8 267.1 10

11 Mortgages 8.6 9.3 10.1 9.9 11.7 11.9 9.8 10.3 10.2 10.0 11

12 Corporate equities 1256.8 1403.1 1603.7 1869.2 1966.2 1970.6 1908.6 1588.6 2096.6 2333.5 12

13 Mutual fund shares 357.0 472.7 660.1 790.0 1056.5 1131.6 962.9 931.9 1126.9 1278.2 13

14 Miscellaneous assets 501.2 545.2 574.2 584.5 587.6 527.3 426.8 408.4 474.8 479.6 14

15 Unallocated insurance contracts (2) 322.2 341.0 351.7 344.3 346.0 308.2 275.8 249.6 317.0 328.4 15

16 Contributions receivable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 16

17 Other 95.3 115.1 124.9 129.7 149.5 146.2 102.6 108.9 108.0 104.5 17

18 Pension fund reserves (liabilities) (3) 2939.4 3268.5 3759.9 4198.1 4651.5 4508.1 4094.7 3719.2 4561.6 4955.8 18

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

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

(3) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.
68 FFA, 1995-2004, December 11, 2008

L.119 State and Local Government Employee Retirement Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1327.1 1509.2 1794.5 2030.6 2325.8 2293.1 2206.6 1930.5 2349.2 2577.5 1

 2 Checkable deposits and currency 4.2 7.5 5.3 10.0 9.2 9.9 11.4 12.9 13.7 16.3 2

 3 Time and savings deposits 4.5 2.3 2.4 2.0 1.7 1.6 1.8 1.7 0.8 1.4 3

 4 Money market fund shares 5.9 7.6 9.6 9.9 11.8 13.2 15.4 15.5 13.4 11.6 4

 5 Security RPs 31.5 28.2 28.6 37.5 40.4 39.8 34.0 27.1 23.4 20.2 5

 6 Credit market instruments 509.8 538.4 598.3 661.5 707.0 743.2 689.4 638.7 657.5 675.3 6

 7 Open market paper 31.5 28.2 28.6 37.5 40.4 47.3 51.3 48.0 41.6 35.2 7

 8 Treasury securities 208.2 212.8 219.0 212.6 198.8 179.1 155.1 158.9 148.6 151.0 8

 9 Agency- and GSE-backed securities 63.1 68.6 87.0 106.1 129.0 178.9 180.7 192.6 235.1 258.8 9

10 Municipal securities 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 1.8 10

11 Corporate and foreign bonds 189.2 211.4 244.5 279.6 310.0 314.2 279.7 217.3 207.4 213.5 11

12 Mortgages 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.1 12

13 Corporate equities 703.5 846.6 1051.3 1188.1 1407.7 1298.7 1260.4 1056.8 1421.0 1600.9 13

14 Mutual fund shares 62.9 73.2 93.4 115.9 140.9 178.3 184.3 167.4 207.9 235.9 14

15 Miscellaneous assets 4.8 5.5 5.6 5.8 7.1 8.2 10.0 10.4 11.3 15.9 15

16 Pension fund reserves (liabilities) (1) 1344.2 1529.2 1819.5 2061.9 2361.3 2335.0 2253.5 1980.0 2399.1 2625.6 16

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

L.120 Federal Government Retirement Funds (1)

Billions of dollars

 1 Total financial assets 541.1 605.8 659.1 716.0 774.0 796.7 859.7 893.8 958.5 1023.3 1

 2 Credit market instruments 23.3 25.6 27.5 30.2 33.1 35.1 44.8 57.6 63.6 68.2 2

 3 Treasury securities 22.2 24.4 26.1 28.5 31.4 33.4 40.6 50.2 55.3 60.7 3

 4 Agency- and GSE-backed securities 0.6 0.7 0.7 1.0 0.9 1.0 2.6 4.6 5.1 4.6 4

 5 Corporate and foreign bonds 0.5 0.5 0.6 0.7 0.7 0.7 1.6 2.8 3.2 3.0 5

 6 Corporate equities 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.9 79.9 99.2 6

 7 Miscellaneous assets (2) 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 7

 8 Pension fund reserves (liabilities) (3) 541.1 605.8 659.1 716.0 774.0 796.7 859.7 893.8 958.5 1023.3 8

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

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

 retirement fund, and foreign service retirement and disability fund.

(3) Liabilities of the sector are assets of the household sector.
FFA, 1995-2004, December 11, 2008 69

L.121 Money Market Mutual Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 741.3 886.7 1042.5 1327.9 1579.6 1812.1 2240.6 2223.9 2016.4 1879.8 1

 2 Foreign deposits 19.7 23.1 23.2 30.1 41.1 87.2 115.0 108.1 71.5 78.5 2

 3 Checkable deposits and currency -3.5 -1.1 1.5 -1.0 -3.3 1.5 5.4 -1.4 -2.1 0.6 3

 4 Time and savings deposits 52.3 82.7 111.3 123.9 155.4 154.8 244.0 220.2 166.8 167.2 4

 5 Security RPs 87.8 103.8 126.6 138.8 140.5 182.8 226.2 273.4 252.6 234.0 5

 6 Credit market instruments 545.5 634.3 721.9 970.5 1155.3 1317.5 1584.9 1567.1 1471.3 1346.3 6

 7 Open market paper 235.5 273.9 336.0 415.1 525.3 620.4 623.7 585.2 459.9 405.8 7

 8 Treasury securities 70.0 90.2 86.2 107.9 103.8 91.6 137.5 142.2 132.1 98.2 8

 9 Agency- and GSE-backed securities 90.8 101.8 96.3 172.4 191.1 182.9 324.4 333.1 328.6 267.5 9

10 Municipal securities 127.7 144.5 167.0 192.8 210.4 242.5 276.7 278.5 292.1 313.8 10

11 Corporate and foreign bonds 21.5 23.9 36.4 82.2 124.8 180.2 222.5 228.1 258.7 261.0 11

12 Miscellaneous assets 39.4 43.8 58.1 65.7 90.6 68.3 65.1 56.5 56.2 53.3 12

13 Total shares outstanding (liabilities) 741.3 886.7 1042.5 1327.9 1579.6 1812.1 2240.6 2223.9 2016.4 1879.8 13

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

L.122 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 1

 2 Security RPs 50.2 47.5 57.8 70.9 80.8 99.6 70.7 81.6 94.5 112.6 2

 3 Credit market instruments 771.3 820.2 901.1 1028.4 1076.8 1103.1 1229.7 1368.4 1506.4 1623.0 3

 4 Open market paper 50.2 47.2 57.8 70.9 80.8 99.6 70.7 63.1 76.2 94.2 4

 5 Treasury securities 143.8 125.8 136.4 141.0 117.3 127.4 117.6 134.8 144.2 149.0 5

 6 Agency- and GSE-backed securities 171.3 204.4 213.3 234.9 271.1 283.7 368.3 422.4 447.5 462.7 6

 7 Municipal securities 210.2 213.3 219.8 242.6 239.4 230.4 253.0 277.3 290.2 294.3 7

 8 Corporate and foreign bonds 185.5 218.5 259.4 322.0 348.2 337.7 403.1 453.4 532.0 596.8 8

 9 Other loans and advances 10.2 11.0 14.4 17.1 19.9 24.3 17.0 17.5 16.4 26.0 9

10 Corporate equities 1024.9 1470.0 2018.7 2506.2 3376.7 3226.9 2834.0 2187.4 3051.3 3693.6 10

11 Miscellaneous assets 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 11

12 Total shares outstanding (liabilities) 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 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

 Closed-end funds

 1 Total financial assets 136.4 144.4 145.9 148.8 152.1 141.9 139.5 150.8 205.6 245.9 1

 2 Credit market instruments 94.5 97.4 96.3 101.2 110.8 105.3 108.5 117.1 152.6 163.6 2

 3 Treasury securities 11.1 11.2 9.8 8.8 7.6 6.7 6.7 3.9 4.6 6.8 3

 4 Municipal securities 58.2 59.1 59.4 60.7 69.7 67.7 74.7 86.0 89.3 89.1 4

 5 Corporate and foreign bonds 25.2 27.1 27.1 31.8 33.5 30.9 27.1 27.1 58.8 67.6 5

 6 Corporate equities 41.9 47.0 49.6 47.6 41.3 36.6 31.1 33.7 53.0 82.3 6

 7 Total shares outstanding (liabilities) 136.4 144.4 145.9 148.8 152.1 141.9 139.5 150.8 205.6 245.9 7

 Exchange-traded funds

 8 Total financial assets 1.1 2.4 6.7 15.6 33.9 65.6 83.0 102.0 150.8 227.3 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 4.5 8.2 9

10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.1 4.9 10

11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 2.4 3.3 11

12 Corporate equities 1.1 2.4 6.7 15.6 33.9 65.6 83.0 98.2 146.3 219.0 12

13 Total shares outstanding (liabilities) 1.1 2.4 6.7 15.6 33.9 65.6 83.0 102.0 150.8 227.3 13
70 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 897.4 989.2 1100.8 1405.8 1723.2 1965.0 2309.4 2549.4 2794.4 2882.9 1

 2 Checkable deposits and currency 1.5 0.8 2.1 5.0 12.1 4.4 6.7 14.8 28.8 39.1 2

 3 Time and savings deposits 0.0 0.0 6.4 4.7 10.0 22.2 30.3 25.3 16.7 23.3 3

 4 Federal funds and security RPs 106.3 94.5 90.4 77.0 89.7 80.6 104.4 95.3 75.3 93.6 4

 5 Credit market instruments 762.8 833.8 934.2 1251.5 1538.8 1794.4 2099.1 2323.2 2564.2 2613.0 5

 6 Open market paper 25.5 35.1 27.6 56.2 23.9 31.1 33.8 10.4 6.7 5.8 6

 7 Treasury securities 58.0 18.8 25.9 25.2 30.9 13.3 13.6 25.7 13.5 12.9 7

 8 Agency- and GSE-backed securities 190.8 256.6 324.2 482.7 655.6 806.7 996.8 1111.7 1034.3 886.5 8

 9 Municipal securities 7.8 12.1 12.7 19.2 22.7 29.2 35.4 39.4 44.4 44.6 9

10 Corporate and foreign bonds 29.9 38.1 44.1 68.7 97.5 135.3 176.7 227.1 277.4 414.8 10

11 Other loans and advances 166.0 195.3 230.7 324.2 432.3 477.6 505.9 514.7 545.8 619.4 11

12 Sallie Mae 3.5 2.4 1.4 1.1 0.8 0.8 0.8 0.4 0.3 0.0 12

13 Farm Credit System 30.2 31.6 31.6 34.9 35.8 38.9 41.8 43.8 43.8 43.6 13

14 FHLB 132.3 161.4 197.8 288.2 395.7 437.9 463.3 470.5 501.7 575.8 14

15 Mortgages 250.4 244.1 239.4 247.0 242.0 264.3 297.5 357.3 621.5 629.0 15

16 Home 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 514.7 508.0 16

17 Multifamily residential 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 17

18 Farm 22.5 23.5 25.0 27.0 28.1 29.7 33.1 38.8 38.7 38.6 18

19 Consumer credit (2) 34.3 33.8 29.5 28.4 33.8 37.0 39.4 36.9 20.6 0.0 19

20 Miscellaneous assets 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 20

21 Total liabilities 872.1 963.1 1071.1 1371.0 1684.3 1920.5 2272.0 2519.6 2747.1 2818.0 21

22 Credit market instruments 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 22

23 GSE issues (3) 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 23

24 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Miscellaneous liabilities 65.1 65.7 74.6 95.6 90.1 94.0 141.5 169.2 145.8 141.7 25

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

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

(2) Sallie Mae student loans.

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

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

Billions of dollars

 1 Total financial assets 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3326.7 3374.6 1

 2 Home mortgages 1543.4 1678.8 1788.1 1970.2 2234.7 2425.6 2748.5 3063.7 3211.2 3256.3 2

 3 Multifamily residential mortgages 26.9 32.5 37.8 48.3 57.5 66.0 81.6 94.5 114.5 117.4 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.4 0.4 0.4 0.5 1.3 1.6 1.7 0.4 1.0 0.9 5

 6 Total pool securities (liabilities)(2) 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3326.7 3374.6 6

(1) GNMA, Fannie Mae, Freddie Mac, FAMC, and Farmers Home Administration pools. Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for

 agency- and GSE-backed CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and

 other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
FFA, 1995-2004, December 11, 2008 71

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 662.9 772.3 907.5 1163.8 1320.4 1497.0 1754.6 1976.9 2211.7 2649.8 1

 2 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.1 0.5 0.9 2.8 8.0 2

 3 Agency- and GSE-backed securities (1) 120.8 114.8 93.0 116.3 154.4 162.9 196.5 271.9 354.9 350.5 3

 4 Other loans and advances 30.0 38.3 64.6 90.3 90.1 104.2 130.5 136.6 141.7 161.9 4

 5 Mortgages (2) 248.1 285.6 348.5 478.4 551.9 618.0 740.0 850.7 1023.4 1455.5 5

 6 Home 193.8 215.4 253.8 321.9 353.7 385.5 463.2 543.6 665.7 1045.7 6

 7 Multifamily residential 12.0 15.9 20.6 33.5 42.2 47.5 53.4 58.7 66.6 73.1 7

 8 Commercial 42.4 54.4 74.0 123.0 156.1 185.0 223.4 248.4 291.0 336.7 8

 9 Consumer credit 213.1 273.5 320.5 393.9 456.7 528.4 598.0 633.3 596.8 571.5 9

10 Trade credit 50.9 60.1 81.0 85.0 67.2 83.3 89.1 83.5 92.2 102.3 10

11 Total liabilities 666.4 781.0 918.3 1176.4 1330.1 1503.6 1761.5 1982.6 2217.2 2654.6 11

12 Commercial paper 101.2 146.7 256.1 381.8 520.8 645.8 607.8 566.1 529.4 525.3 12

13 Corporate bonds (net) (5) 565.1 634.3 662.2 794.6 809.3 857.7 1153.6 1416.6 1687.8 2129.3 13

 Memo:

 Securitized assets not included above

14 Consumer leases (3) 3.5 8.7 10.8 12.7 9.7 6.6 6.8 5.7 5.5 4.8 14

15 REIT assets (4) 7.6 7.4 11.1 13.9 11.7 10.0 6.8 14.8 30.3 91.1 15

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a tangible asset.

(4) Included in table L.128.

(5) Liabilities net of assets.

L.127 Finance Companies (1)

Billions of dollars

 1 Total financial assets 705.4 757.9 799.3 859.5 1016.7 1212.9 1304.0 1445.6 1679.5 1858.0 1

 2 Checkable deposits and currency 16.6 18.5 20.6 22.8 25.3 27.9 30.8 33.8 37.1 40.6 2

 3 Credit market instruments 559.2 586.3 600.3 685.2 792.0 928.5 978.4 1082.0 1204.9 1419.8 3

 4 Other loans and advances 301.6 304.7 304.1 340.9 395.1 456.2 440.2 444.0 441.7 451.5 4

 5 Mortgages 105.5 126.7 128.6 160.9 195.3 237.9 258.2 330.5 370.2 476.0 5

 6 Consumer credit 152.1 154.9 167.5 183.3 201.6 234.4 280.0 307.5 393.0 492.3 6

 7 Miscellaneous assets 129.6 153.1 178.5 151.6 199.4 256.5 294.9 329.7 437.4 397.5 7

 8 Total liabilities 724.2 783.3 812.9 864.2 1012.7 1233.7 1299.7 1435.1 1674.9 1864.3 8

 9 Credit market instruments 500.4 555.1 584.4 645.3 720.9 807.1 818.0 884.2 995.3 1129.6 9

10 Open market paper 168.6 178.0 202.6 233.3 230.4 240.1 162.4 147.8 145.1 175.3 10

11 Corporate bonds 300.0 336.8 341.5 365.6 430.3 503.3 571.3 635.3 743.2 817.4 11

12 Bank loans n.e.c. 31.8 40.3 40.3 46.3 60.1 63.8 84.3 101.1 106.9 136.9 12

13 Taxes payable 4.9 5.7 6.5 7.3 8.1 9.1 10.2 11.6 13.2 15.0 13

14 Miscellaneous liabilities 218.9 222.6 222.0 211.6 283.7 417.6 471.5 539.2 666.4 719.6 14

15 Foreign direct investment in U.S. 24.8 29.7 35.7 37.2 48.6 63.2 68.6 49.9 68.1 71.4 15

16 Investment by parent 67.6 75.2 63.1 34.3 87.8 138.6 156.5 179.6 202.8 257.7 16

17 Other 126.5 117.8 123.2 140.1 147.3 215.7 246.3 309.8 395.4 390.5 17

 Memo:

18 Consumer leases not included above (2) 80.8 93.2 98.8 96.6 102.9 109.4 107.4 89.8 79.0 74.1 18

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

(2) See footnote (3), table L.126.
72 FFA, 1995-2004, December 11, 2008

L.128 Real Estate Investment Trusts (REITs)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 33.3 38.2 64.3 70.7 69.0 66.4 76.4 100.6 134.9 251.3 1

 2 Checkable deposits and currency 0.0 2.2 3.3 4.1 4.4 4.4 5.5 5.4 9.3 12.2 2

 3 Credit market instruments 26.0 30.4 50.6 45.5 44.6 39.3 48.0 70.2 96.4 198.6 3

 4 Agency- and GSE-backed securities 9.0 12.2 21.2 13.1 14.5 15.0 22.0 31.8 28.9 44.7 4

 5 Corporate and foreign bonds 2.9 4.3 6.5 6.1 6.0 5.6 7.9 10.4 18.8 36.0 5

 6 Mortgages 14.1 13.8 22.9 26.3 24.1 18.7 18.0 28.0 48.7 118.0 6

 7 Home 6.9 8.0 14.0 14.8 11.8 8.5 8.7 18.7 37.1 102.9 7

 8 Multifamily residential 1.6 1.2 2.1 2.1 2.4 2.2 1.8 1.3 1.6 1.6 8

 9 Commercial 5.6 4.6 6.9 9.4 9.9 8.0 7.6 8.1 10.1 13.5 9

10 Miscellaneous assets 7.3 5.6 10.5 21.2 20.0 22.7 22.9 25.0 29.2 40.4 10

11 Total liabilities 62.2 79.4 139.0 205.6 216.4 218.3 230.9 275.0 314.1 459.3 11

12 Security RPs 10.9 13.7 24.9 15.1 14.9 12.4 21.6 36.2 41.7 69.2 12

13 Credit market instruments 44.6 56.5 96.1 158.8 165.4 168.0 171.2 198.1 230.3 340.2 13

14 Open market paper 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Corporate bonds 15.5 16.8 31.6 53.4 65.1 67.0 71.4 87.3 110.9 193.4 15

16 Bank loans n.e.c. 5.0 7.8 17.6 33.6 21.8 17.6 14.3 14.4 14.7 16.2 16

17 Mortgages 24.1 31.9 46.8 71.6 78.5 83.4 85.6 96.5 104.7 130.6 17

18 Miscellaneous liabilities 6.7 9.2 18.0 31.6 36.2 38.0 38.0 40.7 42.2 50.0 18

 Memo:

19 Securitized assets included above 7.6 7.4 11.1 13.9 11.7 10.0 6.8 14.8 30.3 91.1 19

20 Agency- and GSE-backed securities 4.2 4.5 4.9 5.0 3.7 3.5 0.3 0.0 0.0 0.0 20

21 Home mortgages 3.5 2.6 5.7 7.5 5.6 5.3 5.5 13.2 28.9 87.9 21

22 Multifamily residential mortgages 0.0 0.3 0.4 0.8 0.5 0.1 0.1 0.1 0.1 0.1 22

23 Commercial mortgages 0.0 0.0 0.0 0.6 1.9 1.1 0.8 1.4 1.3 3.1 23
FFA, 1995-2004, December 11, 2008 73

L.129 Security Brokers and Dealers

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 568.1 636.4 779.2 921.2 1001.0 1221.4 1465.6 1335.4 1613.0 1844.9 1

 2 Checkable deposits and currency 13.7 15.7 21.7 25.4 28.7 30.3 47.1 44.2 47.2 62.9 2

 3 Credit market instruments 183.4 167.7 182.6 189.4 154.7 223.6 316.0 344.4 424.1 394.9 3

 4 Open market paper 22.1 23.7 24.3 28.0 26.0 39.2 48.2 43.5 49.4 48.0 4

 5 Treasury securities 18.3 -12.8 -5.3 15.8 -42.6 -3.3 9.8 -3.9 37.8 -44.6 5

 6 Agency- and GSE-backed securities 54.0 55.2 50.4 50.9 66.0 63.7 77.8 91.8 83.7 107.3 6

 7 Municipal securities 12.7 10.8 13.2 13.1 11.9 11.3 19.0 21.0 24.9 32.0 7

 8 Corporate and foreign bonds 73.8 86.9 92.6 74.7 86.6 103.8 151.0 183.1 219.3 238.0 8

 9 Other loans and advances 2.6 3.9 7.4 6.7 6.8 8.9 10.3 8.9 9.0 14.2 9

10 Corporate equities 34.2 37.9 51.9 54.4 66.9 77.2 85.1 74.9 100.5 129.1 10

11 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 11

12 Miscellaneous assets 258.2 320.7 391.8 499.3 522.8 655.1 821.0 723.7 858.8 994.0 12

13 Total liabilities 535.5 597.5 729.2 866.8 935.8 1151.4 1440.8 1315.9 1589.9 1823.1 13

14 Security RPs (net) 182.4 180.9 203.5 208.2 245.2 302.2 353.2 344.2 490.4 526.9 14

15 Credit market instruments 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 15

16 Corporate bonds 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 16

17 Bank loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Trade payables 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 18

19 Security credit 227.1 263.7 337.9 419.5 448.7 587.6 629.5 590.6 676.3 774.2 19

20 Customer credit balances (HH) 127.6 162.9 215.5 276.7 323.9 412.4 454.3 412.7 475.4 578.3 20

21 From banks 99.5 100.8 122.5 142.8 124.8 175.2 175.2 177.9 200.9 195.8 21

22 Taxes payable 1.1 1.3 1.3 1.3 2.2 2.1 1.9 1.3 1.8 2.2 22

23 Miscellaneous liabilities 85.4 110.1 131.1 176.4 183.6 182.7 374.6 301.7 346.3 421.7 23

24 Foreign direct investment in U.S. 11.1 8.8 8.5 10.7 13.9 20.1 72.2 78.6 87.3 94.9 24

25 Due to affiliates 132.9 178.6 254.5 353.5 481.2 539.9 543.5 560.9 599.3 636.4 25

26 Other -58.6 -77.3 -131.9 -187.8 -311.6 -377.3 -241.1 -337.8 -340.3 -309.6 26

(1) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

L.130 Funding Corporations (1)

Billions of dollars

 1 Total financial assets 383.9 488.8 605.8 750.3 1061.5 1171.8 1161.9 1084.1 1064.8 1083.7 1

 2 Money market fund shares 109.5 135.5 142.3 223.1 288.2 309.9 430.4 420.4 362.9 275.6 2

 3 Credit market instruments 108.9 122.7 175.5 178.5 284.5 312.7 234.8 131.6 159.3 205.9 3

 4 Open market paper 84.2 83.7 139.0 136.5 243.9 278.3 154.7 67.0 40.6 102.1 4

 5 Corporate and foreign bonds 23.8 36.5 33.1 37.6 33.8 24.9 70.8 56.4 111.3 96.8 5

 6 Other loans and advances 0.9 2.4 3.4 4.4 6.8 9.5 9.4 8.2 7.3 7.0 6

 7 Miscellaneous assets (2) 165.5 230.7 288.0 348.7 488.9 549.2 496.6 532.1 542.7 602.2 7

 8 Investment in foreign banking offices 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 8

 9 Investment in brokers and dealers 114.8 166.3 209.2 258.2 395.8 410.5 387.9 404.8 408.0 434.5 9

10 Total liabilities 383.9 488.8 605.8 750.3 1061.5 1171.8 1161.9 1084.1 1064.8 1083.7 10

11 Credit market instruments 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 519.3 517.1 11

12 Open market paper 164.2 198.8 228.5 234.4 268.6 265.1 272.2 231.1 213.7 199.3 12

13 Corporate bonds 84.4 113.6 144.2 178.2 235.5 237.5 259.7 290.1 305.5 317.7 13

14 Bank loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Miscellaneous liabilities 135.3 176.5 233.2 337.8 557.4 669.2 629.9 562.9 545.6 566.6 15

16 Foreign direct investment in U.S. -82.2 -79.2 -81.2 -59.5 -8.5 56.1 -25.9 19.1 30.7 92.1 16

17 Securities loaned (net) 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 17

18 Other 1.3 -20.3 -18.9 -6.0 146.3 104.9 77.6 -31.6 -163.1 -290.3 18

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

(2) Due from affiliated companies.

(3) Loans 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. and

 to American International Group (AIG).
74 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total U.S. reserves 85.8 75.1 70.0 81.8 71.5 67.6 68.7 79.0 85.9 86.8 1

 2 U.S. gold stock and SDRs 22.1 21.4 21.1 21.6 21.4 21.6 21.8 23.2 23.7 24.6 2

 3 Federal govt.: Exchange Stab. Fund 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 3

 4 Monetary authority (2) 11.1 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 4

 5 U.S. foreign exchange position 63.7 53.7 48.9 60.1 50.1 46.1 46.8 55.8 62.3 62.2 5

 6 Official foreign currency holdings 49.1 38.3 30.8 36.0 32.2 31.2 29.0 33.8 39.7 42.7 6

 7 Treasury 28.0 19.0 13.8 16.2 16.0 15.6 14.4 16.9 19.9 21.4 7

 8 Monetary authority 21.1 19.3 17.0 19.8 16.1 15.7 14.6 16.9 19.9 21.4 8

 9 Net IMF position 14.6 15.4 18.1 24.1 18.0 14.8 17.9 22.0 22.5 19.5 9

10 Federal government 14.7 15.5 18.2 24.2 18.0 14.9 17.9 22.1 22.6 19.6 10

11 Monetary authority -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 11

(1) Lines 1, 2, and 3 include increases in SDRs through allocations, which occurred at various dates beginning January 1970. Also included in the table are revaluations of

 foreign currency holdings, gold, SDRs, and IMF position. These allocations and revaluations are excluded from tables on flows.

(2) Treasury gold stock.

L.201 SDR Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 1

 2 Asset: Monetary authority 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 2

 Treasury currency:

 3 Liab: Federal government 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 3

 4 Asset: Monetary authority 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Discrepancy (seigniorage) -5.7 -6.1 -6.2 -6.4 -7.1 -8.5 -8.6 -9.1 -9.5 -9.7 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 418.8 521.7 618.5 627.6 676.5 803.3 810.1 831.1 867.1 957.0 1

 Held by:

 2 Household sector 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.1 57.5 2

 3 Nonfinancial corporate business 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 3

 4 Money market mutual funds 19.7 23.1 23.2 30.1 41.1 87.2 115.0 108.1 71.5 78.5 4

 5 Discrepancy--unallocated assets 358.4 434.9 535.0 529.2 563.3 643.8 630.9 652.5 705.3 767.2 5
FFA, 1995-2004, December 11, 2008 75

L.203 Net Interbank Transactions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 290.8 240.8 219.4 189.5 205.5 221.3 191.4 206.0 193.0 212.2 1

 2 Monetary authority 70.2 69.7 75.8 68.4 90.6 63.4 64.8 70.4 71.0 65.6 2

 3 Depository institution reserves 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 3

 4 Vault cash 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 4

 5 Commercial banking 220.6 171.1 143.6 121.1 114.9 157.8 126.6 135.7 122.0 146.6 5

 6 To monetary authority 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 6

 7 To banks in foreign countries, net 229.3 177.3 173.0 145.9 140.3 161.1 115.5 119.7 109.6 118.3 7

 8 Liabilities, net 239.7 192.9 188.8 156.7 149.8 171.6 127.3 141.1 128.5 142.4 8

 9 U.S.-chartered commercial banks 79.6 48.5 62.0 85.1 133.5 179.3 167.0 213.1 256.7 317.4 9

10 Due to foreign affiliates 128.7 126.8 173.1 196.7 226.7 302.0 324.8 323.9 433.6 467.4 10

11 - Due from foreign affiliates 49.1 78.4 111.1 111.6 93.2 122.7 157.8 110.8 176.9 150.0 11

12 Foreign banking offices in U.S. 178.6 167.1 148.6 92.9 41.7 -14.8 -50.2 -83.0 -95.2 -167.4 12

13 Due to foreign affiliates 99.9 110.4 99.7 133.0 147.9 133.6 163.3 176.2 197.4 274.3 13

14 - Due from foreign affiliates -78.7 -56.6 -48.8 40.1 106.2 148.4 213.5 259.3 292.6 441.8 14

15 Bank holding companies -18.5 -22.6 -21.9 -21.3 -25.4 7.1 10.4 11.1 -33.1 -7.5 15

16 Due to foreign affiliates 3.0 2.7 3.0 2.9 8.3 39.3 51.4 53.4 13.2 33.0 16

17 - Due from foreign affiliates 21.4 25.3 24.9 24.2 33.8 32.2 41.0 42.4 46.3 40.5 17

18 Less: Deposits at foreign banks 10.4 15.6 15.8 10.8 9.5 10.5 11.8 21.4 18.9 24.1 18

19 U.S. chartered commercial banks 5.4 10.6 11.7 10.6 9.4 9.8 11.1 21.3 18.7 23.6 19

20 Foreign banking offices in U.S. 5.0 5.0 4.1 0.2 0.2 0.7 0.7 0.1 0.1 0.5 20

21 To U.S. banking, net -8.9 -10.6 -32.1 -26.5 -25.3 -4.3 11.1 15.5 12.7 27.3 21

22 U.S.-chartered commercial banks -19.9 -41.8 -50.2 -50.8 -64.1 -33.0 -17.7 0.3 -53.1 -20.3 22

23 Liabilities 43.4 38.3 22.0 30.3 47.6 59.4 59.7 76.0 86.0 119.3 23

24 To foreign offices in U.S. 51.5 48.4 53.8 55.8 72.2 63.1 47.9 58.8 71.7 90.1 24

25 To bank holding companies 0.8 0.5 0.3 0.9 0.6 0.6 0.7 1.7 1.6 1.8 25

26 Unallocated -8.9 -10.6 -32.1 -26.5 -25.3 -4.3 11.1 15.5 12.7 27.3 26

 Less, due from:

27 Foreign offices in U.S. 58.9 64.9 57.6 56.3 78.9 86.0 89.5 90.3 98.1 122.3 27

28 Bank holding companies 4.4 15.2 14.6 24.8 32.8 6.4 -12.1 -14.7 41.0 17.4 28

29 Foreign banking offices in U.S. 7.5 16.5 3.8 0.4 6.7 22.9 41.6 31.5 26.4 32.1 29

30 Due to U.S. banks 58.9 64.9 57.6 56.3 78.9 86.0 89.5 90.3 98.1 122.3 30

31 - Due from U.S. banks 51.5 48.4 53.8 55.8 72.2 63.1 47.9 58.8 71.7 90.1 31

32 Bank holding companies 3.5 14.7 14.3 23.9 32.1 5.8 -12.8 -16.4 39.4 15.5 32

33 Due to U.S. banks 4.4 15.2 14.6 24.8 32.8 6.4 -12.1 -14.7 41.0 17.4 33

34 - Due from U.S. banks 0.8 0.5 0.3 0.9 0.6 0.6 0.7 1.7 1.6 1.8 34

35 Total assets 299.7 251.4 251.6 215.9 230.8 225.5 180.3 190.5 180.3 184.9 35

36 Rest of the world 229.3 177.3 173.0 145.9 140.3 161.1 115.5 119.7 109.6 118.3 36

37 Domestic 70.4 74.1 78.6 70.0 90.6 64.4 64.8 70.8 70.8 66.5 37

38 Monetary authority 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 38

39 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 39

40 Loans to member banks 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 40

41 Commercial banking 67.6 67.5 74.1 66.5 89.0 61.8 62.6 67.5 67.6 62.3 41

42 Reserves at Federal Reserve 27.0 22.3 29.1 24.5 22.5 17.4 15.2 19.7 19.7 20.8 42

43 Vault cash 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 43

44 Savings insts.: Reserves at Fed. Res. 2.6 2.3 1.7 1.8 1.6 1.6 2.3 2.8 3.4 3.3 44

45 Discrepancy--floats, etc. -8.9 -10.6 -32.1 -26.5 -25.3 -4.3 11.1 15.5 12.7 27.3 45
76 FFA, 1995-2004, December 11, 2008

L.204 Checkable Deposits and Currency

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.9 1352.9 1437.5 1522.8 1

 2 Monetary authority 391.2 414.4 444.3 483.3 591.6 556.4 603.8 645.7 683.1 720.8 2

 3 Federal government cash and deposits 6.2 8.0 5.7 6.2 28.5 5.6 7.1 4.8 6.0 6.2 3

 4 Due to government-sponsored enterprises 0.8 0.8 0.8 1.5 1.1 1.2 0.7 1.1 0.6 1.1 4

 5 Deposits due to foreign 0.4 0.2 0.5 0.2 0.1 0.3 0.1 0.1 0.2 0.1 5

 6 Currency outside banks 383.7 405.5 437.3 475.4 561.8 549.3 596.0 639.7 676.2 713.3 6

 7 Commercial banking 710.8 676.3 656.4 622.9 626.4 540.9 628.8 571.5 607.2 646.7 7

 8 Federal government deposits 19.0 28.7 27.8 13.2 49.6 16.4 47.5 31.1 30.2 26.9 8

 9 Deposits due to foreign 24.1 26.9 31.7 28.6 28.6 30.7 25.8 25.2 4.0 13.2 9

10 Private domestic deposits 667.7 620.7 597.0 581.1 548.2 493.8 555.6 515.3 573.0 606.6 10

11 Savings institutions 78.5 77.2 71.9 71.1 69.0 70.3 73.5 75.3 80.7 81.2 11

12 Credit unions 30.9 32.5 36.6 43.0 45.4 51.3 54.7 60.5 66.5 74.1 12

13 Total assets 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.9 1352.9 1437.5 1522.8 13

14 Household sector 561.6 495.1 446.1 460.6 413.6 331.0 399.5 405.9 389.0 356.1 14

15 Nonfinancial business 326.5 355.0 370.1 364.5 405.8 429.9 366.5 328.7 385.0 459.9 15

16 Corporate 205.1 214.3 206.9 195.0 231.0 246.4 181.9 141.1 190.9 178.4 16

17 Nonfarm noncorporate 104.7 124.0 146.2 150.9 155.6 164.1 164.5 167.1 172.9 259.2 17

18 Farm 16.7 16.7 16.9 18.6 19.2 19.4 20.0 20.6 21.2 22.3 18

19 State and local governments 33.3 27.8 32.2 28.3 32.2 32.3 36.3 41.5 48.4 42.2 19

20 Federal government 22.2 38.3 41.6 23.2 87.9 24.3 66.9 47.5 54.1 21.9 20

21 Rest of the world 158.5 175.2 202.7 213.2 237.5 236.3 255.1 273.4 262.9 285.3 21

22 Checkable deposits 24.5 27.1 32.2 28.8 28.7 30.9 25.9 25.3 4.2 13.3 22

23 Currency 133.9 148.1 170.5 184.4 208.8 205.4 229.2 248.1 258.7 272.0 23

24 Financial sectors 72.1 80.4 98.5 111.3 142.7 145.3 227.3 246.7 295.0 326.3 24

25 Commercial banking 1.6 1.4 1.4 2.0 2.2 1.7 2.8 2.5 2.5 3.5 25

26 Savings institutions 15.6 14.2 15.2 18.5 20.6 19.0 21.0 24.8 24.8 21.3 26

27 Credit unions 7.4 7.5 8.1 9.1 26.4 26.7 36.8 38.4 41.5 40.2 27

28 Property-casualty insurance companies 4.9 3.9 4.2 4.0 4.3 3.7 13.1 25.9 34.6 25.9 28

29 Life insurance companies 5.2 4.3 8.1 5.4 5.5 5.0 36.8 35.3 47.3 53.3 29

30 Private pension funds 4.9 5.6 7.0 6.1 7.4 10.8 9.9 10.2 10.3 10.5 30

31 State and local govt. retirement funds 4.2 7.5 5.3 10.0 9.2 9.9 11.4 12.9 13.7 16.3 31

32 Money market mutual funds -3.5 -1.1 1.5 -1.0 -3.3 1.5 5.4 -1.4 -2.1 0.6 32

33 Government-sponsored enterprises 1.5 0.8 2.1 5.0 12.1 4.4 6.7 14.8 28.8 39.1 33

34 Finance companies 16.6 18.5 20.6 22.8 25.3 27.9 30.8 33.8 37.1 40.6 34

35 REITs 0.0 2.2 3.3 4.1 4.4 4.4 5.5 5.4 9.3 12.2 35

36 Brokers and dealers 13.7 15.7 21.7 25.4 28.7 30.3 47.1 44.2 47.2 62.9 36

37 Mail float 37.2 28.5 18.1 19.3 12.5 19.7 9.2 9.2 2.9 31.2 37
FFA, 1995-2004, December 11, 2008 77

L.205 Time and Savings Deposits 

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2775.3 3013.2 3265.2 3546.3 3761.3 4108.5 4491.5 4866.9 5230.1 5789.9 1

 2 Small time and savings deposits 2298.4 2422.3 2551.8 2741.1 2824.9 3055.9 3370.5 3695.9 4003.3 4284.9 2

 3 Commercial banking 1490.1 1613.2 1761.5 1945.2 2017.1 2228.7 2478.1 2747.6 2979.2 3259.8 3

 4 U.S.-chartered commercial banks 1471.3 1594.2 1738.0 1924.4 1997.4 2208.0 2448.3 2722.0 2951.6 3231.3 4

 5 Foreign banking offices in U.S. 8.5 8.7 13.1 9.4 7.5 7.2 11.6 9.4 10.2 9.5 5

 6 Banks in U.S.-affiliated areas 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 6

 7 Savings institutions 569.4 557.8 525.8 508.4 508.0 514.4 531.0 551.9 599.1 584.7 7

 8 Credit unions 238.9 251.2 264.4 287.5 299.8 312.7 361.3 396.4 424.9 440.4 8

 9 Large time deposits (1) 476.9 590.9 713.4 805.3 936.4 1052.6 1121.0 1171.0 1226.8 1505.1 9

10 Commercial banking 387.8 493.1 601.0 673.1 792.6 885.4 918.1 915.3 928.1 1120.6 10

11 U.S.-chartered commercial banks 256.5 306.1 369.3 404.1 465.7 553.6 528.4 552.7 555.7 671.3 11

12 Foreign banking offices in U.S. 121.0 176.6 221.3 257.6 314.8 318.2 371.5 346.4 354.9 430.3 12

13 Banks in U.S.-affiliated areas 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 13

14 Savings institutions 80.1 86.4 98.1 113.7 122.2 142.1 168.8 212.9 245.1 324.5 14

15 Credit unions 9.0 11.4 14.4 18.5 21.6 25.1 34.1 42.8 53.6 60.0 15

16 Total assets 2775.3 3013.2 3265.2 3546.3 3761.3 4108.5 4491.5 4866.9 5230.1 5789.9 16

17 Household sector 2316.0 2460.8 2601.1 2698.2 2807.9 3069.7 3350.6 3665.1 4002.5 4472.0 17

18 Nonfinancial business 171.1 204.7 250.1 319.0 416.4 519.9 535.8 560.5 676.6 718.4 18

19 Corporate 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 19

20 Nonfarm noncorporate 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 318.0 20

21 State and local governments 62.0 72.6 78.4 93.2 107.2 117.8 129.8 138.7 159.0 170.6 21

22 Federal government 0.9 2.4 3.4 4.7 5.4 6.3 10.5 27.6 2.4 2.4 22

23 Rest of the world 40.0 50.9 63.9 115.9 118.8 101.5 102.1 143.3 115.0 149.2 23

24 Financial sectors 185.3 221.9 268.2 315.4 305.6 293.2 362.6 331.7 274.5 277.4 24

25 Savings institutions 1.1 1.4 1.0 1.5 1.3 1.4 2.2 2.6 2.6 3.2 25

26 Credit unions 17.1 16.4 17.0 23.4 16.6 15.5 23.0 24.6 27.1 26.4 26

27 Private pension funds 110.2 119.1 130.1 159.9 120.6 97.7 61.3 57.4 60.4 55.8 27

28 State and local govt. retirement funds 4.5 2.3 2.4 2.0 1.7 1.6 1.8 1.7 0.8 1.4 28

29 Money market mutual funds 52.3 82.7 111.3 123.9 155.4 154.8 244.0 220.2 166.8 167.2 29

30 Government-sponsored enterprises 0.0 0.0 6.4 4.7 10.0 22.2 30.3 25.3 16.7 23.3 30

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

L.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Total assets 741.3 886.7 1042.5 1327.9 1579.6 1812.1 2240.6 2223.9 2016.4 1879.8 1

 2 Household sector 472.4 527.9 602.3 706.6 816.1 959.8 1113.2 1071.7 960.2 904.1 2

 3 Nonfinancial corporate business 60.0 67.6 87.8 126.4 154.9 191.4 301.9 335.7 299.0 324.3 3

 4 Nonfarm noncorporate business 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 69.2 4

 5 State and local governments 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 62.7 66.6 5

 6 Rest of the world 5.1 5.8 6.6 7.3 8.1 11.2 15.1 16.3 18.8 22.9 6

 7 Life insurance companies 22.8 61.9 92.8 110.4 131.8 142.3 173.3 159.8 151.4 120.7 7

 8 Private pension funds 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 8

 9 State and local govt. retirement funds 5.9 7.6 9.6 9.9 11.8 13.2 15.4 15.5 13.4 11.6 9

10 Funding corporations 109.5 135.5 142.3 223.1 288.2 309.9 430.4 420.4 362.9 275.6 10
78 FFA, 1995-2004, December 11, 2008

L.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 626.0 664.0 765.0 809.3 937.3 1025.2 1037.5 1134.1 1348.5 1435.4 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 25.7 30.8 2

 3 Commercial banking (net) 388.1 425.8 494.8 534.7 604.5 644.1 590.3 675.2 713.2 726.4 3

 4 U.S.-chartered commercial banks 345.5 370.8 414.3 434.0 521.5 510.4 467.6 510.7 553.4 568.0 4

 5 Foreign banking offices in U.S. 43.2 55.1 80.7 100.4 82.5 134.8 123.9 163.4 157.7 157.5 5

 6 Bank holding companies -0.5 -0.2 -0.2 0.4 0.5 -1.1 -1.2 1.2 2.1 0.8 6

 7 Savings institutions 44.5 43.7 41.8 51.3 72.7 66.7 72.4 57.4 77.5 82.2 7

 8 REITs 10.9 13.7 24.9 15.1 14.9 12.4 21.6 36.2 41.7 69.2 8

 9 Brokers and dealers (net) 182.4 180.9 203.5 208.2 245.2 302.2 353.2 344.2 490.4 526.9 9

10 Total assets 553.0 592.4 650.4 680.3 810.7 768.2 843.1 913.8 1166.4 1398.9 10

11 Nonfinancial corporate business 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 11

12 State and local governments 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 123.5 131.2 12

13 Rest of the world 67.6 70.9 90.8 72.0 79.9 91.3 151.1 190.1 460.2 665.1 13

14 Financial sectors 367.2 369.8 403.7 448.6 571.9 529.9 556.2 601.9 576.8 596.2 14

15 Monetary authority 13.9 21.6 23.8 30.4 140.6 43.4 50.3 39.5 43.8 33.0 15

16 Savings institutions 11.2 10.0 9.2 14.8 10.6 14.9 20.3 20.0 12.3 9.1 16

17 Credit unions (net) 6.4 1.4 3.5 6.8 9.3 4.0 2.5 1.7 1.6 4.1 17

18 Property-casualty insurance companies 37.5 35.4 35.2 42.7 28.3 38.3 30.2 44.4 52.8 63.1 18

19 Private pension funds 22.4 27.3 28.5 29.7 31.6 26.5 17.7 19.0 20.5 26.5 19

20 State and local govt. retirement funds 31.5 28.2 28.6 37.5 40.4 39.8 34.0 27.1 23.4 20.2 20

21 Money market mutual funds 87.8 103.8 126.6 138.8 140.5 182.8 226.2 273.4 252.6 234.0 21

22 Mutual funds 50.2 47.5 57.8 70.9 80.8 99.6 70.7 81.6 94.5 112.6 22

23 Government-sponsored enterprises 106.3 94.5 90.4 77.0 89.7 80.6 104.4 95.3 75.3 93.6 23

24 Discrepancy--unallocated assets 73.0 71.7 114.6 129.0 126.6 257.1 194.4 220.4 182.1 36.5 24

L.208 Open Market Paper

Billions of dollars

 1 Total outstanding, all types 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 1

 2 Commercial paper 677.7 779.4 958.5 1161.0 1393.8 1606.1 1469.2 1370.3 1288.6 1395.0 2

 3 Nonfinancial corporate business 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 3

 4 Foreign issues in U.S. 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 275.5 344.2 4

 5 Nonfinancial 20.6 18.7 20.0 18.5 26.7 37.6 19.5 19.3 15.5 13.3 5

 6 Financial 35.6 48.8 45.0 54.4 62.5 83.3 178.9 237.9 259.9 330.9 6

 7 Financial business 464.2 555.5 724.8 895.2 1074.3 1206.7 1093.0 993.3 930.6 953.0 7

 8 Commercial banking 30.1 32.0 37.6 45.4 54.5 55.7 50.6 48.3 42.3 53.1 8

 9 ABS issuers 101.2 146.7 256.1 381.8 520.8 645.8 607.8 566.1 529.4 525.3 9

10 Finance companies 168.6 178.0 202.6 233.3 230.4 240.1 162.4 147.8 145.1 175.3 10

11 REITs 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Funding corporations 164.2 198.8 228.5 234.4 268.6 265.1 272.2 231.1 213.7 199.3 12

13 Bankers acceptances (1) 22.6 23.6 20.9 11.5 8.6 7.9 4.8 4.6 4.4 4.1 13

14 Holdings, by sector 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 14

15 Household sector 71.7 75.8 77.1 80.2 84.9 97.3 97.3 110.4 105.9 136.1 15

16 Nonfinancial corporate business 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 16

17 State and local governments 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 161.6 171.7 17

18 Rest of the world 43.4 57.9 77.8 111.4 105.0 114.3 108.4 126.6 192.8 229.8 18

19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Commercial banking (1) 5.7 6.5 2.7 1.1 1.4 1.5 0.0 0.0 0.0 0.0 20

21 Savings institutions 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Credit unions 0.6 0.3 0.2 0.4 1.9 1.2 2.4 1.5 0.7 0.8 22

23 Life insurance companies 45.5 48.4 65.9 73.4 75.8 71.2 59.3 74.0 55.9 48.2 23

24 Private pension funds 24.8 30.8 32.3 35.5 41.4 35.3 27.0 29.2 26.0 26.4 24

25 State and local govt. retirement funds 31.5 28.2 28.6 37.5 40.4 47.3 51.3 48.0 41.6 35.2 25

26 Money market mutual funds 235.5 273.9 336.0 415.1 525.3 620.4 623.7 585.2 459.9 405.8 26

27 Mutual funds 50.2 47.2 57.8 70.9 80.8 99.6 70.7 63.1 76.2 94.2 27

28 Government-sponsored enterprises 25.5 35.1 27.6 56.2 23.9 31.1 33.8 10.4 6.7 5.8 28

29 Brokers and dealers 22.1 23.7 24.3 28.0 26.0 39.2 48.2 43.5 49.4 48.0 29

30 Funding corporations 84.2 83.7 139.0 136.5 243.9 278.3 154.7 67.0 40.6 102.1 30

(1) Excludes banks’ holdings of own acceptances.
FFA, 1995-2004, December 11, 2008 79

L.209 Treasury Securities

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 1

 2 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 2

 3 Other Treasury issues 3423.5 3568.1 3591.8 3537.0 3466.2 3173.0 3162.4 3414.9 3804.4 4166.3 3

 4 Total assets 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 4

 5 Household sector 833.6 894.2 803.1 739.5 814.4 584.8 445.0 288.3 441.5 535.4 5

 6 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 6

 7 Other Treasury issues 648.6 707.2 616.6 552.8 628.0 400.1 254.6 93.4 237.7 331.0 7

 8 Nonfinancial corporate business 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 32.8 33.1 8

 9 Nonfarm noncorporate business 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 9

10 State and local governments 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 364.2 389.1 10

11 Rest of the world 816.9 1040.3 1153.2 1166.2 1058.4 1021.4 1095.2 1285.5 1513.5 1813.6 11

12 Monetary authority 378.2 390.9 430.7 452.1 478.0 511.7 551.7 629.4 666.7 717.8 12

13 Commercial banking 278.7 261.8 270.1 214.1 228.9 184.5 162.7 205.8 132.3 107.8 13

14 U.S.-chartered commercial banks 207.6 173.0 166.8 124.8 122.8 87.9 56.5 86.4 93.5 74.2 14

15 Foreign banking offices in U.S. 62.3 80.7 95.1 84.8 94.5 94.0 103.8 116.7 33.7 27.8 15

16 Bank holding companies 3.4 4.0 4.0 0.9 8.8 0.8 1.2 1.3 2.7 2.0 16

17 Banks in U.S.-affiliated areas 5.4 4.1 4.2 3.6 2.8 1.8 1.2 1.5 2.5 3.8 17

18 Savings institutions 18.4 17.4 14.6 10.2 10.1 8.7 11.4 9.2 12.2 8.4 18

19 Credit unions 18.3 17.4 15.6 13.1 9.6 8.2 7.4 7.5 8.8 8.9 19

20 Property-casualty insurance companies 133.4 120.9 91.1 70.4 60.6 52.1 52.0 61.2 64.7 71.3 20

21 Life insurance companies 108.1 93.2 85.5 71.3 62.8 58.1 53.7 78.5 71.8 78.5 21

22 Private pension funds 120.8 116.0 118.0 104.8 121.5 111.6 104.0 100.6 113.9 109.8 22

23 State and local govt. retirement funds 208.2 212.8 219.0 212.6 198.8 179.1 155.1 158.9 148.6 151.0 23

24 Federal government retirement funds 22.2 24.4 26.1 28.5 31.4 33.4 40.6 50.2 55.3 60.7 24

25 Money market mutual funds 70.0 90.2 86.2 107.9 103.8 91.6 137.5 142.2 132.1 98.2 25

26 Mutual funds 143.8 125.8 136.4 141.0 117.3 127.4 117.6 134.8 144.2 149.0 26

27 Closed-end funds 11.1 11.2 9.8 8.8 7.6 6.7 6.7 3.9 4.6 6.8 27

28 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.1 4.9 28

29 Government-sponsored enterprises 58.0 18.8 25.9 25.2 30.9 13.3 13.6 25.7 13.5 12.9 29

30 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.1 0.5 0.9 2.8 8.0 30

31 Brokers and dealers 18.3 -12.8 -5.3 15.8 -42.6 -3.3 9.8 -3.9 37.8 -44.6 31

 Memo:

32 Federal government debt (1) 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 32

(1) Total Treasury securities (table L.209, line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 12).
80 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5952.9 6075.2 1

 2 Budget agencies 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 2

 3 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 3

 4 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3326.7 3374.6 4

 5 Total assets 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5952.9 6075.2 5

 6 Household sector 223.0 340.8 398.9 452.3 552.0 608.7 441.5 300.6 437.9 405.7 6

 7 Nonfinancial corporate business 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 12.1 12.2 7

 8 State and local governments 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 351.2 373.2 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 123.1 134.4 157.3 185.6 232.3 348.2 504.1 629.8 654.8 875.0 10

11 Monetary authority 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 11

12 Commercial banking 467.5 495.7 571.2 663.2 699.6 721.8 777.4 917.9 1000.0 1095.0 12

13 U.S.-chartered commercial banks 421.5 436.7 497.2 578.9 608.3 626.5 700.2 821.3 906.4 996.1 13

14 Foreign banking offices in U.S. 37.3 49.7 62.2 67.4 72.4 72.7 50.7 61.6 53.0 51.8 14

15 Bank holding companies 4.7 4.9 5.5 6.6 5.4 4.8 6.2 10.7 11.6 13.5 15

16 Banks in U.S.-affiliated areas 4.0 4.3 6.3 10.2 13.5 17.8 20.3 24.2 28.9 33.6 16

17 Savings institutions 164.6 156.1 155.3 143.7 147.1 140.4 161.4 176.2 198.8 136.4 17

18 Credit unions 45.7 50.7 51.0 58.4 61.3 60.9 80.6 79.1 94.3 93.1 18

19 Property-casualty insurance companies 48.2 51.0 70.8 69.7 75.5 84.1 94.2 113.2 115.4 112.1 19

20 Life insurance companies 242.9 244.1 226.7 217.0 224.4 235.4 253.5 330.9 348.9 357.1 20

21 Private pension funds 213.1 201.8 207.9 190.7 230.3 197.4 202.5 183.2 221.4 232.8 21

22 State and local govt. retirement funds 63.1 68.6 87.0 106.1 129.0 178.9 180.7 192.6 235.1 258.8 22

23 Federal government retirement funds 0.6 0.7 0.7 1.0 0.9 1.0 2.6 4.6 5.1 4.6 23

24 Money market mutual funds 90.8 101.8 96.3 172.4 191.1 182.9 324.4 333.1 328.6 267.5 24

25 Mutual funds 171.3 204.4 213.3 234.9 271.1 283.7 368.3 422.4 447.5 462.7 25

26 Government-sponsored enterprises 190.8 256.6 324.2 482.7 655.6 806.7 996.8 1111.7 1034.3 886.5 26

27 ABS issuers 120.8 114.8 93.0 116.3 154.4 162.9 196.5 271.9 354.9 350.5 27

28 REITs 9.0 12.2 21.2 13.1 14.5 15.0 22.0 31.8 28.9 44.7 28

29 Brokers and dealers 54.0 55.2 50.4 50.9 66.0 63.7 77.8 91.8 83.7 107.3 29

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mac, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown in table L.209, line 32.
FFA, 1995-2004, December 11, 2008 81

L.211 Municipal Securities and Loans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.5 1762.9 1900.5 2031.0 1

 2 State and local governments 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.5 1437.9 1557.9 1673.0 2

 3 Short-term (1) 34.4 40.7 49.0 42.7 45.3 46.6 70.5 95.7 106.1 100.2 3

 4 Long-term 1002.6 980.7 1018.0 1090.9 1127.2 1142.4 1224.0 1342.2 1451.8 1572.8 4

 5 Nonprofit organizations (2) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 164.2 178.3 188.6 5

 6 Nonfinancial corporate business 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.8 164.2 169.4 6

 (industrial revenue bonds)

 7 Total assets 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.5 1762.9 1900.5 2031.0 7

 8 Household sector 533.4 493.0 497.6 498.7 528.1 531.2 581.1 678.7 704.1 742.7 8

 9 Nonfinancial corporate business 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 9

10 Nonfarm noncorporate business 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 10

11 State and local governments 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.4 4.7 11

12 Rest of the world 4.0 4.9 5.9 6.8 7.8 8.0 8.0 11.5 19.5 26.0 12

13 Commercial banking 93.4 94.2 96.7 104.8 110.8 114.1 120.2 121.7 132.7 140.8 13

14 Savings institutions 2.0 2.1 2.1 2.5 3.0 3.2 4.5 5.5 6.3 7.1 14

15 Property-casualty insurance companies 161.0 175.4 191.6 208.1 199.0 184.1 173.8 183.0 224.2 267.8 15

16 Life insurance companies 11.9 13.4 16.7 18.4 20.1 19.1 18.7 19.9 26.1 30.1 16

17 State and local govt. retirement funds 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 1.8 17

18 Money market mutual funds 127.7 144.5 167.0 192.8 210.4 242.5 276.7 278.5 292.1 313.8 18

19 Mutual funds 210.2 213.3 219.8 242.6 239.4 230.4 253.0 277.3 290.2 294.3 19

20 Closed-end funds 58.2 59.1 59.4 60.7 69.7 67.7 74.7 86.0 89.3 89.1 20

21 Government-sponsored enterprises 7.8 12.1 12.7 19.2 22.7 29.2 35.4 39.4 44.4 44.6 21

22 Brokers and dealers 12.7 10.8 13.2 13.1 11.9 11.3 19.0 21.0 24.9 32.0 22

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).

L.212 Corporate and Foreign Bonds

Billions of dollars

 1 Total liabilities 2929.0 3267.0 3620.0 4132.8 4464.2 4829.7 5583.7 6256.1 7047.0 7925.6 1

 2 Nonfinancial corporate business 1357.2 1485.2 1666.3 1881.2 2107.1 2271.1 2614.5 2747.9 2900.1 2975.6 2

 3 Rest of the world (1) 413.3 481.4 543.4 594.4 548.2 572.7 557.1 702.7 868.9 985.0 3

 4 Financial sectors 1158.5 1300.4 1410.3 1657.1 1808.9 1985.9 2412.1 2805.5 3277.9 3965.1 4

 5 Commercial banking 161.1 168.9 192.6 220.2 240.6 273.2 310.2 332.2 378.4 437.4 5

 6 Savings institutions 3.1 2.7 2.8 2.6 2.7 6.3 3.6 3.4 5.1 7.6 6

 7 ABS issuers (net) (3) 565.1 634.3 662.2 794.6 809.3 857.7 1153.6 1416.6 1687.8 2129.3 7

 8 Finance companies 300.0 336.8 341.5 365.6 430.3 503.3 571.3 635.3 743.2 817.4 8

 9 REITs 15.5 16.8 31.6 53.4 65.1 67.0 71.4 87.3 110.9 193.4 9

10 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 10

11 Funding corporations 84.4 113.6 144.2 178.2 235.5 237.5 259.7 290.1 305.5 317.7 11

12 Total assets 2929.0 3267.0 3620.0 4132.8 4464.2 4829.7 5583.7 6256.1 7047.0 7925.6 12

13 Household sector 561.9 625.4 647.4 718.1 663.9 727.3 909.4 1266.1 1234.2 1401.0 13

14 State and local governments 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 111.3 118.2 14

15 Rest of the world (2) 355.3 432.1 498.2 589.7 673.1 841.8 1018.7 1123.8 1330.6 1559.1 15

16 Commercial banking 110.5 111.6 140.5 176.2 210.1 266.1 363.1 359.9 481.2 563.6 16

17 Savings institutions 78.5 68.6 58.7 88.6 111.9 109.4 83.9 79.9 71.9 59.2 17

18 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 24.3 25.0 18

19 Property-casualty insurance companies 123.3 141.6 159.5 171.1 181.1 187.5 196.4 198.9 218.9 245.3 19

20 Life insurance companies 867.0 946.2 1041.7 1124.4 1166.9 1214.8 1334.3 1440.0 1610.5 1756.3 20

21 Private pension funds 241.1 244.5 278.5 298.9 341.9 265.7 242.5 253.9 274.8 267.1 21

22 State and local govt. retirement funds 189.2 211.4 244.5 279.6 310.0 314.2 279.7 217.3 207.4 213.5 22

23 Federal government retirement funds 0.5 0.5 0.6 0.7 0.7 0.7 1.6 2.8 3.2 3.0 23

24 Money market mutual funds 21.5 23.9 36.4 82.2 124.8 180.2 222.5 228.1 258.7 261.0 24

25 Mutual funds 185.5 218.5 259.4 322.0 348.2 337.7 403.1 453.4 532.0 596.8 25

26 Closed-end funds 25.2 27.1 27.1 31.8 33.5 30.9 27.1 27.1 58.8 67.6 26

27 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 2.4 3.3 27

28 Government-sponsored enterprises 29.9 38.1 44.1 68.7 97.5 135.3 176.7 227.1 277.4 414.8 28

29 REITs 2.9 4.3 6.5 6.1 6.0 5.6 7.9 10.4 18.8 36.0 29

30 Brokers and dealers 73.8 86.9 92.6 74.7 86.6 103.8 151.0 183.1 219.3 238.0 30

31 Funding corporations 23.8 36.5 33.1 37.6 33.8 24.9 70.8 56.4 111.3 96.8 31

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

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

(3) Liabilities net of assets.
82 FFA, 1995-2004, December 11, 2008

L.213 Corporate Equities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Issues at market value 8481.3 9748.1 12621.9 15354.1 19401.0 17575.0 15628.6 12438.3 16638.7 18947.2 1

 2 Nonfinancial corporate business 6406.8 6804.3 8674.7 10962.4 14476.8 12444.5 10868.6 8212.4 10845.4 12086.2 2

 3 Rest of the world (2) 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 3

 4 Financial corporations 1284.0 1937.7 2739.5 2916.8 2920.4 3277.7 3147.3 2852.0 3713.9 4300.6 4

 5 Holdings at market value 8481.3 9748.1 12621.9 15354.1 19401.0 17575.0 15628.6 12438.3 16638.7 18947.2 5

 6 Household sector 4434.2 4712.2 6144.3 7511.2 9769.9 8147.3 6829.5 5161.2 6787.7 7495.9 6

 7 State and local governments 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 84.7 90.0 7

 8 Rest of the world (3) 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1221.6 1674.6 1904.6 8

 9 Commercial banking 5.0 6.8 2.6 6.8 11.3 11.9 8.9 3.5 15.0 20.3 9

10 Savings institutions 14.3 17.8 23.3 24.5 23.8 24.2 27.9 29.1 30.4 28.2 10

11 Property-casualty insurance companies 133.5 147.5 184.3 197.9 205.2 191.4 171.0 149.4 178.4 196.6 11

12 Life insurance companies 309.6 406.9 539.7 683.2 909.0 891.9 811.3 708.9 919.3 1053.9 12

13 Private pension funds 1256.8 1403.1 1603.7 1869.2 1966.2 1970.6 1908.6 1588.6 2096.6 2333.5 13

14 State and local govt. retirement funds 703.5 846.6 1051.3 1188.1 1407.7 1298.7 1260.4 1056.8 1421.0 1600.9 14

15 Federal government retirement funds 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.9 79.9 99.2 15

16 Mutual funds 1024.9 1470.0 2018.7 2506.2 3376.7 3226.9 2834.0 2187.4 3051.3 3693.6 16

17 Closed-end funds 41.9 47.0 49.6 47.6 41.3 36.6 31.1 33.7 53.0 82.3 17

18 Exchange-traded funds 1.1 2.4 6.7 15.6 33.9 65.6 83.0 98.2 146.3 219.0 18

19 Brokers and dealers 34.2 37.9 51.9 54.4 66.9 77.2 85.1 74.9 100.5 129.1 19

 Memo:

20 Market value of domestic corporations (4) 7460.8 8482.6 11095.6 13532.4 17015.0 15315.3 13609.1 10675.6 14035.6 15711.2 20

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

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

(4) Sum of lines 2 and 4 less the sum of lines 9, 10, 11, 17, 18, and 19; line 1 excludes intercorporate holdings of nonfinancial corporations.

L.214 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 1

 2 Holdings at market value 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.4 3638.4 4654.2 5436.3 2

 3 Household sector 1253.0 1561.5 1948.8 2351.8 2894.9 2704.2 2614.6 2218.4 2904.3 3417.4 3

 4 Nonfinancial corporate business 45.7 63.0 75.0 98.0 127.0 121.9 112.5 95.8 125.9 140.5 4

 5 State and local governments 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 25.9 27.5 5

 6 Rest of the world 59.9 82.3 109.0 135.1 169.5 149.0 116.6 98.0 146.1 195.8 6

 7 Commercial banking 2.3 2.6 8.1 9.1 12.4 15.0 21.3 19.6 17.1 18.1 7

 8 Credit unions 2.8 2.6 2.4 3.6 2.5 2.2 3.7 3.5 4.1 3.1 8

 9 Property-casualty insurance companies 0.7 1.0 1.7 2.2 2.7 2.9 3.0 3.0 4.3 5.2 9

10 Life insurance companies 33.5 42.5 57.2 73.2 98.7 97.0 88.3 76.6 91.7 114.4 10

11 Private pension funds 357.0 472.7 660.1 790.0 1056.5 1131.6 962.9 931.9 1126.9 1278.2 11

12 State and local govt. retirement funds 62.9 73.2 93.4 115.9 140.9 178.3 184.3 167.4 207.9 235.9 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
FFA, 1995-2004, December 11, 2008 83

L.215 Bank Loans Not Elsewhere Classified

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Total loans by commercial

 1 banking, flow of funds basis 2647.3 2821.8 3055.4 3309.3 3515.5 3887.3 3957.8 4183.0 4444.6 4886.9 1

 - Loans elsewhere classified:

 2 Open market paper 5.7 6.5 2.7 1.1 1.4 1.5 0.0 0.0 0.0 0.0 2

 3 Mortgages 1090.2 1145.4 1245.3 1337.0 1495.4 1660.1 1789.8 2058.3 2255.8 2595.6 3

 4 Consumer credit 502.3 527.5 515.1 512.0 507.8 551.1 568.4 602.6 669.4 704.3 4

 5 Security credit 99.5 100.8 122.5 142.8 124.8 175.2 175.2 177.9 200.9 195.8 5

 6 = Banking sector total bank loans n.e.c. 949.6 1041.7 1169.8 1316.4 1386.2 1499.6 1424.3 1344.2 1318.4 1391.2 6

 7 U.S.-chartered commercial banks 701.6 759.8 867.9 1013.5 1106.8 1205.4 1143.8 1085.7 1066.3 1131.6 7

 8 Foreign banking offices in U.S. 232.6 264.8 284.0 282.4 260.0 274.6 256.1 237.5 225.7 234.0 8

 9 Bank holding companies 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 9

10 Banks in U.S.-affiliated areas 13.1 14.6 15.5 16.3 16.9 18.0 22.5 18.2 18.5 20.3 10

11 + Loans from Federal Reserve banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 = Total bank loans n.e.c. 949.6 1041.7 1169.8 1316.4 1386.2 1499.6 1424.3 1344.2 1318.4 1391.2 12

13 Total liabilities 949.6 1041.7 1169.8 1316.4 1386.2 1499.6 1424.3 1344.2 1318.4 1391.2 13

14 Nonfinancial sectors 898.2 977.7 1092.5 1206.7 1290.2 1396.7 1302.8 1201.6 1154.4 1169.1 14

15 Households 57.4 58.0 66.5 72.0 65.2 65.4 43.6 21.1 52.8 35.5 15

16 Corporate business 601.8 642.1 692.7 768.8 808.8 852.7 743.7 635.5 548.3 547.2 16

17 Nonfarm noncorporate business 164.7 193.6 237.3 262.1 312.8 361.2 405.3 430.4 441.7 468.9 17

18 Farm business 39.7 40.4 43.9 45.1 44.2 46.9 46.9 46.0 45.5 47.7 18

19 Rest of the world 34.6 43.7 52.1 58.7 59.2 70.5 63.2 68.6 66.1 69.9 19

20 Foreign official institutions 2.6 2.9 2.1 2.8 3.0 3.5 4.3 5.1 4.5 5.5 20

21 Foreign banks 10.9 14.3 13.8 13.1 9.9 13.2 5.9 5.1 8.9 13.4 21

22 Other foreign 21.1 26.5 36.3 42.8 46.4 53.8 53.1 58.4 52.7 51.0 22

23 Financial sectors 51.4 64.0 77.3 109.6 96.0 102.8 121.6 142.6 164.0 222.1 23

24 Savings institutions 14.6 15.9 19.4 29.7 14.0 21.5 23.0 27.2 42.4 68.9 24

25 Finance companies 31.8 40.3 40.3 46.3 60.1 63.8 84.3 101.1 106.9 136.9 25

26 REITs 5.0 7.8 17.6 33.6 21.8 17.6 14.3 14.4 14.7 16.2 26

27 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28
84 FFA, 1995-2004, December 11, 2008

L.216 Other Loans and Advances

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total other loans and advances 898.4 958.0 1055.1 1208.7 1346.1 1483.8 1511.1 1543.1 1582.5 1711.1 1

 2 U.S. government loans 130.0 132.7 138.8 136.5 129.6 126.9 119.1 118.6 116.7 113.7 2

 3 Liab.: Household sector 10.7 20.0 17.6 17.3 17.1 15.9 14.7 13.8 13.1 12.2 3

 4 Nonfinancial corporate business 8.5 7.9 8.3 8.0 7.6 7.6 6.3 7.3 8.1 8.4 4

 5 Nonfarm noncorporate business 39.5 39.6 44.3 43.8 43.7 42.2 38.2 39.2 39.4 40.8 5

 6 Farm business 6.1 5.6 5.3 4.9 4.9 5.1 4.9 4.6 4.4 4.0 6

 7 State and local governments 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 7

 8 Rest of the world 55.4 54.8 53.3 52.4 47.8 47.2 46.1 44.1 42.0 38.3 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 9

10 Foreign loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 10

11 Liab.: Nonfinancial corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 11

 Customers’ liability on acceptances

12 outstanding (bank asset) 22.3 23.4 20.6 11.3 8.2 7.5 4.6 4.6 4.4 4.0 12

13 Liab.: Nonfinancial corporate business 14.2 13.4 10.8 6.6 4.4 4.3 4.1 4.4 4.2 3.8 13

14 Rest of the world 8.2 9.9 9.7 4.7 3.9 3.1 0.5 0.2 0.2 0.3 14

15 Savings institution loans to business 12.8 15.7 18.8 24.2 30.6 39.3 42.9 46.2 56.3 57.6 15

16 Liab.: Nonfinancial corporate business 6.4 7.9 9.4 12.1 15.3 19.7 21.5 23.1 28.2 28.8 16

17 Nonfarm noncorporate business 6.4 7.9 9.4 12.1 15.3 19.7 21.5 23.1 28.2 28.8 17

18 Policy loans (Household liability) 96.9 101.4 104.6 104.7 100.0 102.8 105.0 106.0 105.2 106.8 18

19 Asset: Federal government 0.9 1.0 1.0 0.9 0.9 0.9 0.9 0.8 0.8 0.7 19

20 Life insurance companies 95.9 100.5 103.7 103.8 99.0 101.9 104.1 105.1 104.5 106.1 20

21 Government-sponsored enterprise loans (1) 166.0 195.3 230.7 324.2 432.3 477.6 505.9 514.7 545.8 619.4 21

22 Liab.: Household sector (SLMA) 0.8 0.9 0.7 0.6 0.7 0.4 0.4 0.4 0.3 0.0 22

23 Noncorporate business (FCS) 16.4 16.5 16.5 17.1 17.9 19.5 19.5 20.1 19.8 18.1 23

24 Farm business (FCS) 13.8 15.1 15.1 17.8 17.9 19.4 22.3 23.7 24.0 25.5 24

25 Commercial banks (FHLB and SLMA) 36.7 39.0 58.1 104.9 145.6 172.4 196.6 226.8 235.3 244.1 25

26 Savings institutions (FHLB and SLMA) 97.4 121.9 138.0 180.1 243.7 260.0 259.1 231.7 249.3 309.3 26

27 Credit unions (FHLB) 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 27

28 Life insurance companies (FHLB) 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 28

29 Securitized loans held by ABS issuers 29.6 37.7 62.1 85.9 82.6 89.8 108.3 105.0 103.9 105.3 29

30 Liab.: Nonfinancial corporate business 29.6 37.7 62.1 85.9 82.6 89.8 108.3 105.0 103.9 105.3 30

31 Finance company loans to business 301.6 304.7 304.1 340.9 395.1 456.2 440.2 444.0 441.7 451.5 31

32 Liab.: Nonfinancial corporate business 271.4 274.2 273.7 306.8 355.6 410.6 396.2 399.6 397.6 406.4 32

33 Nonfarm noncorporate business 30.2 30.5 30.4 34.1 39.5 45.6 44.0 44.4 44.2 45.2 33

34 Loans to nonfinancial corporate business (2) 17.2 21.0 32.2 38.7 48.1 66.4 69.5 78.2 83.4 121.5 34

35 Asset: Household sector 0.1 0.1 0.2 0.2 0.6 1.9 2.6 2.8 3.1 5.9 35

36 Life insurance companies 3.1 3.1 4.2 6.1 6.4 7.4 8.1 9.2 9.8 11.7 36

37 Mutual funds 10.2 11.0 14.4 17.1 19.9 24.3 17.0 17.5 16.4 26.0 37

38 ABS issuers 0.4 0.6 2.5 4.4 7.5 14.4 22.2 31.6 37.8 56.7 38

39 Brokers and dealers 2.6 3.9 7.4 6.7 6.8 8.9 10.3 8.9 9.0 14.2 39

40 Funding corporations 0.9 2.4 3.4 4.4 6.8 9.5 9.4 8.2 7.3 7.0 40

(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.
FFA, 1995-2004, December 11, 2008 85

L.217 Total Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total mortgages 4546.8 4816.4 5130.1 5617.0 6227.4 6788.9 7497.3 8399.2 9398.6 10662.7 1

 2 Home 3460.9 3684.5 3919.3 4275.9 4701.9 5129.1 5680.9 6437.5 7231.5 8268.5 2

 3 Multifamily residential 275.5 287.8 299.8 333.4 374.6 404.6 446.5 485.0 564.8 617.9 3

 4 Commercial 738.7 769.7 832.6 924.6 1063.7 1170.6 1281.4 1381.3 1508.3 1679.4 4

 5 Farm 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 94.1 96.9 5

 6 Total liabilities 4546.8 4816.4 5130.1 5617.0 6227.4 6788.9 7497.3 8399.2 9398.6 10662.7 6

 7 Household sector 3426.3 3636.5 3851.1 4163.1 4547.7 4947.4 5475.9 6208.3 7045.9 8010.5 7

 8 Nonfinancial business 1096.4 1148.0 1232.2 1382.2 1601.2 1758.1 1935.9 2094.4 2248.0 2521.6 8

 9 Corporate 219.6 230.4 262.8 264.0 343.9 365.8 418.5 449.2 528.6 582.6 9

10 Nonfarm noncorporate 805.0 843.2 890.9 1035.1 1170.1 1307.6 1428.8 1549.8 1625.3 1842.1 10

11 Farm 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 94.1 96.9 11

12 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 REITs 24.1 31.9 46.8 71.6 78.5 83.4 85.6 96.5 104.7 130.6 13

14 Total assets 4546.8 4816.4 5130.1 5617.0 6227.4 6788.9 7497.3 8399.2 9398.6 10662.7 14

15 Household sector 113.0 105.5 98.4 93.9 101.1 103.0 108.2 115.5 120.7 128.5 15

16 Nonfinancial corporate business 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 16

17 Nonfarm noncorporate business 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 17

18 State and local governments 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 132.9 141.2 18

19 Federal government 57.5 50.3 45.7 44.9 77.7 76.9 75.8 76.3 73.8 75.4 19

20 Commercial banking 1090.2 1145.4 1245.3 1337.0 1495.4 1660.1 1789.8 2058.3 2255.8 2595.6 20

21 Savings institutions (1) 596.8 628.3 631.8 644.0 668.1 723.0 758.0 781.0 870.6 1057.4 21

22 Credit unions 66.5 76.0 86.0 96.9 111.0 124.9 141.3 159.4 182.6 213.2 22

23 Property-casualty insurance companies 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 23

24 Life insurance companies 213.1 208.2 206.8 213.6 230.8 235.9 243.0 250.0 260.9 273.3 24

25 Private pension funds 8.6 9.3 10.1 9.9 11.7 11.9 9.8 10.3 10.2 10.0 25

26 State and local govt. retirement funds 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.1 26

27 Government-sponsored enterprises (1) 250.4 244.1 239.4 247.0 242.0 264.3 297.5 357.3 621.5 629.0 27

28 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3326.7 3374.6 28

29 ABS issuers 248.1 285.6 348.5 478.4 551.9 618.0 740.0 850.7 1023.4 1455.5 29

30 Finance companies 105.5 126.7 128.6 160.9 195.3 237.9 258.2 330.5 370.2 476.0 30

31 REITs 14.1 13.8 22.9 26.3 24.1 18.7 18.0 28.0 48.7 118.0 31

(1) FHLB loans to savings institutions are included in other loans and advances.
86 FFA, 1995-2004, December 11, 2008

L.218 Home Mortgages (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 3460.9 3684.5 3919.3 4275.9 4701.9 5129.1 5680.9 6437.5 7231.5 8268.5 1

 2 Household sector 3334.4 3539.8 3755.9 4057.5 4435.2 4820.9 5327.8 6034.2 6886.0 7835.6 2

 3 Nonfinancial corporate business 7.2 8.3 8.6 10.0 12.1 14.1 16.2 16.9 18.8 23.5 3

 4 Nonfarm noncorporate business 119.3 136.3 154.7 208.4 254.6 294.1 336.9 386.4 326.7 409.4 4

 5 Total assets 3460.9 3684.5 3919.3 4275.9 4701.9 5129.1 5680.9 6437.5 7231.5 8268.5 5

 6 Household sector 95.9 87.0 78.1 73.1 80.2 87.3 94.2 100.3 106.3 112.4 6

 7 Nonfinancial corporate business 33.8 24.5 29.8 27.1 20.2 21.4 23.0 24.9 26.1 39.9 7

 8 Nonfarm noncorporate business 8.2 7.6 7.0 9.7 8.9 8.7 9.9 9.6 9.7 11.3 8

 9 State and local governments 60.5 62.8 65.8 65.0 67.2 66.6 66.2 63.4 67.8 72.0 9

10 Federal government 24.2 21.2 19.1 18.8 18.4 17.7 17.1 16.2 15.3 14.8 10

11 Commercial banking 650.2 681.3 749.3 800.8 883.8 969.9 1028.3 1227.1 1355.8 1581.0 11

12 Savings institutions 482.4 513.7 520.7 533.5 548.2 594.2 620.4 631.1 702.8 874.2 12

13 Credit unions 66.5 76.0 86.0 96.9 111.0 124.9 141.3 159.4 182.6 213.2 13

14 Life insurance companies 10.3 8.5 8.7 8.2 8.3 7.5 7.8 6.7 7.1 7.9 14

15 Private pension funds 4.4 5.0 5.7 5.8 6.6 7.7 4.6 2.8 1.7 1.4 15

16 State and local govt. retirement funds 4.4 5.0 5.6 7.2 8.2 7.1 6.9 7.6 7.3 5.4 16

17 Government-sponsored enterprises 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 514.7 508.0 17

18 Agency- and GSE-backed mortgage pools 1543.4 1678.8 1788.1 1970.2 2234.7 2425.6 2748.5 3063.7 3211.2 3256.3 18

19 ABS issuers 193.8 215.4 253.8 321.9 353.7 385.5 463.2 543.6 665.7 1045.7 19

20 Finance companies 66.5 87.0 89.4 119.1 147.2 186.9 209.7 285.6 320.2 422.0 20

21 REITs 6.9 8.0 14.0 14.8 11.8 8.5 8.7 18.7 37.1 102.9 21

 Memo:

22 Home equity loans included above (2) 237.5 262.6 297.0 309.9 334.3 407.9 438.9 500.7 593.4 775.6 22

23 Commercial banking 140.0 153.8 174.0 176.9 189.5 235.0 258.6 303.3 366.0 483.5 23

24 Savings institutions 50.5 52.3 55.5 55.9 59.7 72.8 77.9 78.5 95.6 121.2 24

25 Credit unions 22.9 25.5 29.0 29.7 33.4 40.7 44.9 48.0 51.7 63.9 25

26 ABS issuers 2.7 3.5 4.8 6.9 8.4 10.5 12.4 15.0 16.1 23.2 26

27 Finance companies 21.4 27.5 33.8 40.5 43.3 49.0 45.0 56.0 64.0 83.7 27

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

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

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 275.5 287.8 299.8 333.4 374.6 404.6 446.5 485.0 564.8 617.9 1

 2 Nonfinancial corporate business 21.1 21.7 22.5 23.5 24.7 25.9 27.3 28.8 30.4 32.4 2

 3 Nonfarm noncorporate business 246.5 255.6 261.8 286.2 335.5 361.2 400.1 435.5 513.1 559.5 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 7.9 10.5 15.4 23.6 14.4 17.4 19.0 20.7 21.3 26.0 5

 6 Total assets 275.5 287.8 299.8 333.4 374.6 404.6 446.5 485.0 564.8 617.9 6

 7 Household sector 1.6 1.5 1.5 1.5 1.4 1.4 1.4 1.4 1.5 1.5 7

 8 Nonfinancial corporate business 0.1 0.8 1.4 1.1 0.9 0.8 0.9 0.9 1.0 1.0 8

 9 Nonfarm noncorporate business 7.2 6.8 6.2 8.9 8.0 7.8 9.0 8.8 8.8 10.4 9

10 State and local governments 44.1 45.9 46.5 50.9 52.7 52.2 51.9 49.7 53.1 56.5 10

11 Federal government 17.7 14.8 13.9 13.6 13.6 13.9 13.7 14.3 14.5 15.0 11

12 Commercial banking 42.5 45.5 49.7 54.6 67.7 77.8 84.9 94.2 104.5 118.7 12

13 Savings institutions 62.0 61.6 59.5 57.0 59.3 61.3 64.6 68.6 77.9 87.5 13

14 Life insurance companies 28.7 30.8 30.4 31.5 32.8 33.7 35.6 36.8 38.6 40.5 14

15 Private pension funds 1.0 1.0 1.0 0.9 1.1 1.1 1.4 1.9 2.2 2.2 15

16 State and local govt. retirement funds 4.5 4.7 5.0 6.3 7.2 6.2 6.0 6.3 6.1 4.5 16

17 Government-sponsored enterprises 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 17

18 Agency- and GSE-backed mortgage pools 26.9 32.5 37.8 48.3 57.5 66.0 81.6 94.5 114.5 117.4 18

19 ABS issuers 12.0 15.9 20.6 33.5 42.2 47.5 53.4 58.7 66.6 73.1 19

20 Finance companies 7.2 7.2 8.0 7.0 7.2 7.6 7.1 5.7 5.7 5.6 20

21 REITs 1.6 1.2 2.1 2.1 2.4 2.2 1.8 1.3 1.6 1.6 21
FFA, 1995-2004, December 11, 2008 87

L.220 Commercial Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 738.7 769.7 832.6 924.6 1063.7 1170.6 1281.4 1381.3 1508.3 1679.4 1

 2 Household sector 91.9 96.6 95.1 105.6 112.5 126.6 148.1 174.0 159.9 174.9 2

 3 Nonfinancial corporate business 191.4 200.4 231.7 230.5 307.0 325.8 375.0 403.5 479.3 526.7 3

 4 Nonfarm noncorporate business 439.2 451.3 474.3 540.4 580.1 652.3 691.8 727.9 785.6 873.2 4

 5 REITs 16.1 21.4 31.4 48.0 64.1 65.9 66.5 75.8 83.4 104.6 5

 6 Total assets 738.7 769.7 832.6 924.6 1063.7 1170.6 1281.4 1381.3 1508.3 1679.4 6

 7 Household sector 3.7 4.4 5.1 6.0 6.8 8.6 7.9 8.6 9.2 9.9 7

 8 Nonfinancial corporate business 24.0 29.1 49.1 39.1 20.1 21.2 22.7 23.7 24.7 25.6 8

 9 Nonfarm noncorporate business 5.7 5.3 4.9 6.8 6.2 6.0 6.9 6.7 6.7 7.9 9

10 State and local governments 7.7 7.5 7.7 10.2 10.5 10.4 10.4 10.0 10.6 11.3 10

11 Federal government 9.4 8.5 7.8 7.9 41.5 41.1 41.0 42.1 40.5 42.4 11

12 Commercial banking 377.3 397.5 423.1 456.3 516.3 582.6 645.6 704.0 762.6 860.7 12

13 Savings institutions 52.1 52.7 51.3 53.0 60.1 67.0 72.5 80.7 89.2 95.1 13

14 Property-casualty insurance companies 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 14

15 Life insurance companies 165.9 160.3 158.8 164.0 179.0 183.8 188.4 195.0 203.9 214.1 15

16 Private pension funds 3.2 3.3 3.4 3.2 4.0 3.1 3.7 5.7 6.4 6.4 16

17 State and local govt. retirement funds 7.0 7.0 7.0 9.0 10.3 8.8 8.1 7.2 6.9 5.1 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 18

19 ABS issuers 42.4 54.4 74.0 123.0 156.1 185.0 223.4 248.4 291.0 336.7 19

20 Finance companies 31.8 32.6 31.3 34.8 40.9 43.4 41.4 39.2 44.2 48.4 20

21 REITs 5.6 4.6 6.9 9.4 9.9 8.0 7.6 8.1 10.1 13.5 21

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities (Farm business) 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 94.1 96.9 1

 2 Total assets 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 94.1 96.9 2

 3 Household sector 11.8 12.6 13.8 13.4 12.6 5.6 4.7 5.2 3.7 4.7 3

 4 Nonfarm noncorporate business 0.7 0.7 0.6 0.9 1.0 0.9 1.1 1.0 1.1 1.2 4

 5 State and local governments 1.4 1.4 1.4 1.3 1.3 1.3 1.3 1.2 1.3 1.4 5

 6 Federal government 6.2 5.8 4.9 4.5 4.3 4.1 4.0 3.7 3.4 3.2 6

 7 Commercial banking 20.2 21.2 23.2 25.2 27.6 29.8 31.1 33.1 32.9 35.2 7

 8 Savings institutions 0.3 0.3 0.4 0.4 0.5 0.5 0.5 0.6 0.6 0.6 8

 9 Life insurance companies 8.2 8.6 8.9 9.9 10.6 11.1 11.2 11.4 11.4 10.9 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 10

11 Government-sponsored enterprises 22.5 23.5 25.0 27.0 28.1 29.7 33.1 38.8 38.7 38.6 11

12 Agency- and GSE-backed mortgage pools 0.4 0.4 0.4 0.5 1.3 1.6 1.7 0.4 1.0 0.9 12

(1) Excludes mortgages on farm houses.
88 FFA, 1995-2004, December 11, 2008

L.222 Consumer Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities (Households) 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1892.0 1999.9 2104.4 2219.4 1

 2 Total assets 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1892.0 1999.9 2104.4 2219.4 2

 3 Nonfinancial corporate business 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.7 58.5 58.6 3

 4 Nonfarm noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 5

 6 Commercial banking 502.3 527.5 515.1 512.0 507.8 551.1 568.4 602.6 669.4 704.3 6

 7 Savings institutions 40.1 44.7 47.2 52.4 61.7 64.8 71.1 68.7 77.9 91.3 7

 8 Credit unions 131.9 144.1 152.4 155.4 167.9 184.4 189.6 195.7 205.9 215.4 8

 9 Government-sponsored enterprises 34.3 33.8 29.5 28.4 33.8 37.0 39.4 36.9 20.6 0.0 9

10 ABS issuers 213.1 273.5 320.5 393.9 456.7 528.4 598.0 633.3 596.8 571.5 10

11 Finance companies 152.1 154.9 167.5 183.3 201.6 234.4 280.0 307.5 393.0 492.3 11

L.223 Trade Credit

Billions of dollars

 1 Total trade payables 1443.2 1553.9 1681.5 1786.1 2047.4 2440.6 2356.3 2443.0 2465.4 2659.8 1

 2 Household sector 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 2

 3 Nonfinancial corporate business 877.5 927.0 992.1 1049.7 1228.2 1541.4 1437.7 1457.4 1402.7 1499.9 3

 4 Nonfarm noncorporate business 86.2 116.8 147.8 178.6 213.3 259.9 255.0 281.0 255.3 277.4 4

 5 Farm business 11.6 13.0 14.1 13.7 13.5 7.8 8.1 7.6 7.1 8.9 5

 6 State and local governments 228.9 247.1 266.6 287.3 310.1 335.1 361.9 390.3 419.5 449.9 6

 7 Federal government 81.1 81.8 72.9 65.0 70.2 74.6 78.0 78.8 151.2 166.3 7

 8 Rest of the world 46.5 44.8 50.0 46.1 50.4 51.2 43.5 38.6 44.7 48.2 8

 9 Brokers and dealers 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 9

10 Total trade receivables 1583.2 1722.0 1872.7 1995.9 2238.4 2616.6 2518.4 2440.2 2439.5 2622.8 10

11 Nonfinancial corporate business 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.6 1702.4 1831.3 11

12 Nonfarm noncorporate business 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 12

13 State and local governments 77.3 82.9 89.2 96.3 104.9 109.9 115.9 118.4 126.5 134.4 13

14 Federal government 23.1 24.0 20.8 22.3 22.9 28.1 35.5 32.2 51.3 61.8 14

15 Rest of the world 49.3 54.9 55.8 49.3 49.7 49.4 46.2 48.8 50.1 49.0 15

16 Property-casualty insurance companies 57.3 57.2 59.9 61.5 63.6 64.6 69.9 74.8 79.3 79.6 16

17 ABS issuers 50.9 60.1 81.0 85.0 67.2 83.3 89.1 83.5 92.2 102.3 17

18 Discrepancy -140.0 -168.1 -191.2 -209.8 -191.0 -176.0 -162.1 2.8 25.9 37.1 18

L.224 Security Credit

Billions of dollars

 1 Total liabilities 305.7 358.1 469.1 572.2 676.6 822.7 825.9 738.8 858.8 1038.2 1

 2 Household sector 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 227.1 263.7 337.9 419.5 448.7 587.6 629.5 590.6 676.3 774.2 4

 5 Customer credit balances (HH) 127.6 162.9 215.5 276.7 323.9 412.4 454.3 412.7 475.4 578.3 5

 6 From U.S.-chartered commercial banks 65.1 60.2 64.4 76.3 67.6 74.7 81.9 79.2 91.4 102.2 6

 7 From foreign banking offices in U.S. 34.4 40.6 58.0 66.5 57.2 100.5 93.3 98.7 109.5 93.7 7

 8 Total assets 305.7 358.1 469.1 572.2 676.6 822.7 825.9 738.8 858.8 1038.2 8

 9 Household sector 127.6 162.9 215.5 276.7 323.9 412.4 454.3 412.7 475.4 578.3 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 10

11 Commercial banking 99.5 100.8 122.5 142.8 124.8 175.2 175.2 177.9 200.9 195.8 11

12 Brokers and dealers 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 12
FFA, 1995-2004, December 11, 2008 89

L.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Life insurance reserves:

 1 Total liabilities 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 1

 2 Federal government 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 2

 3 Life insurance companies 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 3

 4 Total assets (Households) 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 4

 Pension fund reserves:

 5 Total liabilities 5715.3 6377.5 7354.8 8264.5 9265.2 9166.0 8766.4 8198.0 9722.4 10632.6 5

 6 Life insurance companies 890.6 974.0 1116.3 1288.4 1478.4 1526.3 1558.5 1604.9 1803.2 2027.9 6

 7 Private pension funds (1) 2939.4 3268.5 3759.9 4198.1 4651.5 4508.1 4094.7 3719.2 4561.6 4955.8 7

 8 State and local govt. retirement funds 1344.2 1529.2 1819.5 2061.9 2361.3 2335.0 2253.5 1980.0 2399.1 2625.6 8

 9 Federal government retirement funds (2) 541.1 605.8 659.1 716.0 774.0 796.7 859.7 893.8 958.5 1023.3 9

10 Total assets (Households) (3) 5715.3 6377.5 7354.8 8264.5 9265.2 9166.0 8766.4 8198.0 9722.4 10632.6 10

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

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies.

L.226 Taxes Payable by Businesses

Billions of dollars

 1 Total taxes payable by all businesses 105.0 122.0 141.3 156.0 178.9 204.8 219.2 241.4 240.4 268.9 1

 2 Nonfinancial corporate business 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 2

 3 Nonfarm noncorporate business 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 3

 4 U.S.-chartered commercial banks 2.8 4.0 5.4 7.1 9.0 11.1 13.5 16.2 19.1 22.2 4

 5 Savings institutions 1.6 1.4 1.8 2.0 2.0 2.5 1.7 1.5 1.3 1.9 5

 6 Property-casualty insurance companies 9.0 11.6 13.4 15.4 17.4 19.7 22.4 25.6 29.3 33.5 6

 7 Life insurance companies 12.0 12.5 13.7 14.9 16.2 17.8 19.7 22.1 24.9 28.1 7

 8 Finance companies 4.9 5.7 6.5 7.3 8.1 9.1 10.2 11.6 13.2 15.0 8

 9 Brokers and dealers 1.1 1.3 1.3 1.3 2.2 2.1 1.9 1.3 1.8 2.2 9

10 Total business taxes receivable 35.9 104.2 97.2 96.3 111.3 124.6 135.5 145.2 159.8 179.7 10

11 State and local governments 18.6 14.0 14.3 17.1 27.6 42.4 46.1 50.8 68.4 89.0 11

12 Federal government 17.3 90.2 82.9 79.2 83.7 82.2 89.4 94.4 91.4 90.7 12

13 Discrepancy 69.2 17.7 44.1 59.7 67.6 80.2 83.8 96.2 80.6 89.1 13

L.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 3486.6 3702.4 3907.9 4121.4 4320.5 4695.2 4822.7 5041.5 5560.9 6318.5 1

 2 Nonfarm noncorporate business 2711.5 2870.6 3043.6 3244.7 3400.1 3712.4 3810.4 3981.6 4422.9 4973.3 2

 3 Farm business 769.7 825.2 854.8 867.1 908.8 971.1 1006.2 1055.0 1133.2 1340.8 3

 4 Brokers and dealers 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 4.8 4.4 4
90 FFA, 1995-2004, December 11, 2008

L.228 Total Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 6397.8 6806.3 7320.3 8275.9 9497.5 10643.5 11152.2 11712.7 12287.8 13827.1 1

 2 Household sector 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 2

 3 Nonfinancial corporate business 2151.6 2261.6 2105.3 2488.7 2832.0 3354.0 3457.1 3515.9 3409.5 3583.5 3

 4 Nonfarm noncorporate business 214.8 245.5 301.3 392.9 466.5 552.6 607.3 625.9 648.8 717.6 4

 5 Federal government 513.0 568.7 608.3 649.6 690.6 711.3 772.0 800.9 843.6 901.6 5

 6 Rest of the world 1007.8 1093.3 1351.8 1508.0 1990.7 2073.0 2064.8 2300.3 2532.9 3351.3 6

 7 Monetary authority 6.6 6.6 8.7 9.2 8.3 9.3 7.0 8.1 8.3 12.5 7

 8 Commercial banking 848.4 863.0 1023.7 1115.2 1077.4 1257.8 1256.6 1430.8 1553.6 1700.0 8

 9 Savings institutions 106.0 103.4 101.4 99.8 85.1 102.3 123.3 148.9 118.5 136.9 9

10 Credit unions 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 10

11 Property-casualty insurance companies 501.6 509.9 522.3 527.7 534.4 543.0 574.6 615.7 667.2 708.3 11

12 Life insurance companies 514.5 547.4 595.2 609.2 636.1 613.6 611.2 626.7 730.6 783.9 12

13 Government-sponsored enterprises 65.1 65.7 74.6 95.6 90.1 94.0 141.5 169.2 145.8 141.7 13

14 Finance companies 218.9 222.6 222.0 211.6 283.7 417.6 471.5 539.2 666.4 719.6 14

15 REITs 6.7 9.2 18.0 31.6 36.2 38.0 38.0 40.7 42.2 50.0 15

16 Brokers and dealers 85.4 110.1 131.1 176.4 183.6 182.7 374.6 301.7 346.3 421.7 16

17 Funding corporations 135.3 176.5 233.2 337.8 557.4 669.2 629.9 562.9 545.6 566.6 17

18 Total assets 7369.7 8149.1 9047.7 10496.5 12131.9 14302.7 15052.1 15542.8 15907.9 17559.6 18

19 Household sector 328.3 338.9 351.5 360.8 372.6 378.7 397.8 434.2 489.1 541.5 19

20 Nonfinancial corporate business 3062.9 3407.7 3622.8 4475.0 5427.5 6724.7 6940.5 7062.2 7117.4 7699.1 20

21 Nonfarm noncorporate business 167.0 203.5 259.9 382.1 463.8 553.7 683.6 724.2 790.6 953.7 21

22 Farm business 32.4 32.3 32.8 36.1 37.3 37.7 38.9 39.9 41.2 43.2 22

23 State and local governments 104.2 112.7 188.8 190.4 176.8 151.6 133.9 105.4 83.5 80.0 23

24 Federal government 116.9 110.2 104.8 101.2 100.3 98.9 100.3 100.3 101.7 102.3 24

25 Rest of the world 892.5 1004.1 1176.3 1272.0 1606.6 2094.1 2218.8 2380.8 2117.4 2498.5 25

26 Monetary authority 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 26

27 Commercial banking 797.8 823.7 934.0 1065.2 1097.7 1196.9 1347.9 1443.4 1527.5 1657.5 27

28 Savings institutions 54.7 52.9 49.7 62.1 60.0 67.6 84.5 103.6 98.5 167.0 28

29 Credit unions 13.9 13.7 17.6 24.3 8.0 12.9 18.3 30.4 26.3 24.5 29

30 Property-casualty insurance companies 37.8 33.6 42.8 47.0 50.6 51.8 54.4 84.1 85.0 87.3 30

31 Life insurance companies 105.1 73.7 65.7 69.2 36.9 55.6 40.1 46.8 74.7 126.6 31

32 Private pension funds 501.2 545.2 574.2 584.5 587.6 527.3 426.8 408.4 474.8 479.6 32

33 State and local govt. retirement funds 4.8 5.5 5.6 5.8 7.1 8.2 10.0 10.4 11.3 15.9 33

34 Federal government retirement funds 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 34

35 Money market mutual funds 39.4 43.8 58.1 65.7 90.6 68.3 65.1 56.5 56.2 53.3 35

36 Mutual funds 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 36

37 Government-sponsored enterprises 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 37

38 Finance companies 129.6 153.1 178.5 151.6 199.4 256.5 294.9 329.7 437.4 397.5 38

39 REITs 7.3 5.6 10.5 21.2 20.0 22.7 22.9 25.0 29.2 40.4 39

40 Brokers and dealers 258.2 320.7 391.8 499.3 522.8 655.1 821.0 723.7 858.8 994.0 40

41 Funding corporations 165.5 230.7 288.0 348.7 488.9 549.2 496.6 532.1 542.7 602.2 41

42 Discrepancy -971.9 -1342.8 -1727.4 -2220.6 -2634.4 -3659.2 -3899.8 -3830.1 -3620.1 -3732.5 42
FFA, 1995-2004, December 11, 2008 91

L.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 885.5 989.8 1068.1 1196.0 1414.4 1531.6 1693.1 1867.0 2054.5 2498.5 1

 2 Asset: Nonfinancial corporate business 778.7 866.5 933.1 1041.0 1227.7 1322.2 1462.7 1583.9 1718.5 2056.6 2

 3 Commercial banking 37.9 42.8 44.2 31.2 35.2 43.5 49.6 49.9 56.3 91.2 3

 4 Property-casualty insurance companies 37.8 33.6 42.8 47.0 50.6 51.8 54.4 84.1 85.0 87.3 4

 5 Life insurance companies 5.6 6.6 8.6 11.1 16.2 17.5 18.2 24.5 27.9 36.5 5

 6 Finance companies 22.8 27.9 35.1 58.0 69.9 76.6 93.9 111.7 151.3 202.5 6

 7 Brokers and dealers 2.8 12.4 4.2 7.7 14.7 20.0 14.3 12.9 15.4 24.3 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 640.2 696.0 747.2 807.6 898.8 1110.2 1228.2 1163.3 1192.5 1231.2 8

 9 Nonfarm noncorporate business 2.8 4.0 3.9 3.4 3.3 3.4 2.9 2.8 2.4 2.4 9

10 Commercial banking 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 10

11 Property-casualty insurance companies 36.8 38.5 46.2 47.3 51.5 60.9 66.4 63.3 68.2 61.4 11

12 Life insurance companies 13.8 17.6 25.2 27.3 32.1 42.9 38.8 49.6 46.6 66.6 12

13 Finance companies 24.8 29.7 35.7 37.2 48.6 63.2 68.6 49.9 68.1 71.4 13

14 Brokers and dealers 11.1 8.8 8.5 10.7 13.9 20.1 72.2 78.6 87.3 94.9 14

15 Funding corporations -82.2 -79.2 -81.2 -59.5 -8.5 56.1 -25.9 19.1 30.7 92.1 15

16 Asset: Rest of the world 680.1 745.6 824.1 920.0 1101.7 1421.0 1518.5 1500.0 1581.0 1742.7 16

 Federal government equity in IBRD, etc.:

17 Liab.: Rest of the world 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 17

18 Asset: Federal government 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 18

 Federal Reserve Bank stock:

19 Liab.: Monetary authority 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 19

20 Asset: Commercial banking 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 20

 Equity in government-sponsored enterprises:

21 Liab.: Government-sponsored enterprises 18.3 19.7 21.5 25.5 31.6 33.8 37.1 39.1 42.3 44.8 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 22

23 Nonfarm noncorporate (BC) 1.0 1.7 1.7 1.6 1.6 1.6 1.8 1.8 2.1 2.0 23

24 Farm business (FICB and FLB) 2.2 1.5 1.5 1.7 1.6 1.6 2.0 2.1 2.5 2.7 24

25 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Commercial banks (FHLB) 5.8 6.7 8.0 10.0 13.0 13.8 15.2 17.5 18.7 19.3 26

27 Savings institutions (FHLB) 9.1 9.5 9.9 11.8 14.5 15.7 17.0 16.0 16.4 17.4 27

28 Credit unions (FHLB) 0.2 0.2 0.2 0.3 0.5 0.6 0.9 1.2 1.4 1.7 28

29 Life insurance companies (FHLB) 0.1 0.2 0.2 0.2 0.3 0.4 0.3 0.5 1.1 1.7 29

 BHC investment in subsidiaries:

30 Liab.: Commercial banking 344.3 372.9 413.6 469.0 471.9 525.4 586.1 639.2 689.8 857.0 30

31 Savings institutions 4.5 4.7 5.0 5.4 6.0 6.6 7.4 8.3 9.3 10.5 31

32 Finance companies 42.1 47.9 39.6 33.2 60.0 53.7 56.5 54.9 64.3 128.8 32

33 Brokers and dealers 18.1 12.3 45.3 95.4 85.4 129.4 155.6 156.1 191.4 201.9 33

34 Asset: Bank holding companies 408.9 437.8 503.5 603.0 623.1 715.1 805.6 858.5 954.8 1198.2 34

 NFC inv. in finance company subs.:

35 Liab.: Finance companies 25.5 27.3 23.5 1.1 27.9 84.9 100.0 124.7 138.5 128.8 35

36 Asset: Nonfinancial corporate business 25.5 27.3 23.5 1.1 27.9 84.9 100.0 124.7 138.5 128.8 36

 Funding corp. investment in subs.:

37 Liab.: Foreign banking offices in U.S. 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 37

38 Brokers and dealers 114.8 166.3 209.2 258.2 395.8 410.5 387.9 404.8 408.0 434.5 38

39 Asset: Funding corporations 165.5 230.7 288.0 348.7 488.9 549.2 496.6 532.1 542.7 602.2 39
92 FFA, 1995-2004, December 11, 2008

L.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.8 2.8 1

 2 Asset: Federal government 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.8 2.8 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 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 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 19.3 18.0 18.0 24.9 17.1 17.1 25.7 27.6 20.5 18.4 6

 7 Asset: Savings institutions 19.3 18.0 18.0 24.9 17.1 17.1 25.7 27.6 20.5 18.4 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 8

 9 Asset: Life insurance companies 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 9

 Life insurance company reserves:

10 Liab.: Life insurance companies 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 10

11 Health 63.2 69.4 75.7 83.0 93.5 97.4 100.5 110.6 121.5 131.3 11

12 Policy dividend accumulation 33.7 34.5 36.4 37.1 38.4 39.5 40.4 40.6 40.5 41.7 12

13 Policy and contract claims 24.6 25.4 27.8 30.2 30.1 32.0 34.4 34.5 37.5 38.0 13

14 Asset: Household sector 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 14

 Policy payables:

15 Liab.: Property-casualty insurance companies 464.8 471.4 476.2 480.4 482.9 482.1 508.2 552.4 599.0 646.9 15

16 Asset: Household sector 206.8 209.6 211.6 210.5 210.6 209.9 222.4 243.9 266.8 290.4 16

17 Nonfinancial corporate business 183.6 186.2 188.1 189.8 190.8 190.4 200.8 218.2 236.6 255.5 17

18 Nonfarm noncorporate business 44.2 44.8 45.2 45.6 45.9 45.8 48.3 52.5 56.9 60.5 18

19 Farm business 30.2 30.8 31.3 34.5 35.7 36.0 36.8 37.8 38.7 40.5 19

 Unallocated insurance company contracts:

20 Liab.: Life insurance companies 322.2 341.0 351.7 344.3 346.0 308.2 275.8 249.6 317.0 328.4 20

21 Asset: Private pension funds 322.2 341.0 351.7 344.3 346.0 308.2 275.8 249.6 317.0 328.4 21

 Pension fund contributions payable:

22 Liab.: Nonfinancial corporate business 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 22

23 Asset: Private pension funds 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 23

 Securities borrowed (net):

24 Liab.: Funding corporations 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 24

25 Asset: Brokers and dealers 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 25

 Nonmarketable government securities:

26 Liab.: Federal government 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 26

27 Asset: Federal government retirement funds 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 27

 Retiree Health Care Funds (2):

28 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.6 22.8 40.1 28

29 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.6 22.8 40.1 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.
FFA, 1995-2004, December 11, 2008 93

L.231 Unidentified Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2428.9 2414.8 2516.2 2967.5 3544.0 3981.0 4057.7 4286.2 4200.0 4620.5 1

 2 Nonfinancial corporate business 1427.6 1476.5 1260.6 1570.6 1841.1 2170.8 2180.4 2302.6 2167.3 2305.6 2

 3 Nonfarm noncorporate business 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 3

 4 Federal government 6.7 7.3 6.6 6.7 6.6 6.4 6.2 6.0 5.8 5.6 4

 5 Rest of the world 92.6 72.2 250.9 277.7 539.9 503.5 332.1 392.1 435.7 808.0 5

 6 Monetary authority 2.6 2.0 3.2 3.3 1.9 2.3 -0.3 -0.2 -0.6 0.6 6

 7 Commercial banking 420.7 395.4 492.5 509.6 450.6 529.5 494.5 590.9 644.0 552.6 7

 8 U.S.-chartered commercial banks 160.7 147.7 185.1 193.0 181.2 263.2 173.7 210.6 262.4 319.7 8

 9 Foreign banking offices in U.S. 225.1 200.5 233.9 220.6 157.2 137.2 141.0 161.2 108.5 -81.2 9

10 Bank holding companies 24.6 36.3 57.9 74.1 88.1 104.4 150.8 190.9 241.4 271.6 10

11 Banks in U.S.-affiliated areas 10.3 10.9 15.6 21.9 24.1 24.8 29.0 28.3 31.7 42.5 11

12 Savings institutions 101.5 98.8 96.4 94.4 79.2 95.7 115.9 140.6 109.2 126.5 12

13 Credit unions 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 13

14 Life insurance companies 57.0 59.5 78.4 87.4 95.9 93.7 121.2 141.9 167.5 177.9 14

15 Government-sponsored enterprises 27.6 28.0 35.1 45.2 41.5 43.1 78.7 102.5 83.1 78.5 15

16 Finance companies 126.5 117.8 123.2 140.1 147.3 215.7 246.3 309.8 395.4 390.5 16

17 REITs 6.7 9.2 18.0 31.6 36.2 38.0 38.0 40.7 42.2 50.0 17

18 Brokers and dealers -58.6 -77.3 -131.9 -187.8 -311.6 -377.3 -241.1 -337.8 -340.3 -309.6 18

19 Funding corporations 1.3 -20.3 -18.9 -6.0 146.3 104.9 77.6 -31.6 -163.1 -290.3 19

20 Total assets 3400.8 3757.7 4243.6 5188.2 6178.4 7640.2 7957.5 8116.4 7820.1 8353.0 20

21 Nonfinancial corporate business 2075.1 2327.7 2478.0 3243.0 3981.1 5127.2 5177.0 5135.3 5023.8 5258.1 21

22 Nonfarm noncorporate business 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 731.6 891.3 22

23 State and local governments 104.2 112.7 188.8 190.4 176.8 151.6 133.9 105.4 83.5 80.0 23

24 Federal government 87.2 78.8 71.9 66.9 63.9 61.0 60.7 59.1 58.9 57.5 24

25 Rest of the world 212.5 258.5 352.1 351.9 504.9 673.1 700.3 880.9 536.4 755.8 25

26 Monetary authority 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 26

27 Commercial banking 341.2 331.8 372.9 415.1 419.9 417.4 470.1 509.0 488.9 336.8 27

28 U.S.-chartered commercial banks 78.9 78.7 87.6 114.3 121.0 127.4 158.2 178.9 173.2 112.2 28

29 Foreign banking offices in U.S. 218.5 197.2 234.3 234.5 204.9 177.1 187.2 184.2 149.5 25.0 29

30 Bank holding companies 39.8 51.1 44.4 56.5 85.4 106.3 112.2 139.5 161.9 194.4 30

31 Banks in U.S.-affiliated areas 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 31

32 Savings institutions 26.4 25.3 21.7 25.5 28.4 34.8 41.9 59.9 61.5 131.2 32

33 Credit unions 13.8 13.6 17.3 24.0 7.4 12.3 17.4 29.2 24.9 22.8 33

34 Life insurance companies 81.9 48.7 38.3 40.7 0.9 18.2 2.5 1.8 24.8 65.9 34

35 Private pension funds 95.3 115.1 124.9 129.7 149.5 146.2 102.6 108.9 108.0 104.5 35

36 State and local govt. retirement funds 4.8 5.5 5.6 5.8 7.1 8.2 10.0 10.4 11.3 15.9 36

37 Mutual funds 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 37

38 Money market mutual funds 39.4 43.8 58.1 65.7 90.6 68.3 65.1 56.5 56.2 53.3 38

39 Government-sponsored enterprises 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 39

40 Finance companies 106.8 125.3 143.4 93.6 129.5 179.9 200.9 218.1 286.1 195.1 40

41 REITs 7.3 5.6 10.5 21.2 20.0 22.7 22.9 25.0 29.2 40.4 41

42 Brokers and dealers 39.2 32.2 54.4 88.4 88.6 126.9 228.4 135.4 165.4 204.9 42

43 Discrepancy -971.9 -1342.8 -1727.4 -2220.6 -2634.4 -3659.2 -3899.8 -3830.1 -3620.1 -3732.5 43
94 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 32863.9 35292.6 39185.4 43502.4 49092.8 49619.4 50002.9 49599.0 56563.7 63153.4 1

 2 Tangible assets 11242.5 11772.5 12388.1 13411.8 14538.8 16233.6 17740.5 19257.1 21159.4 23963.9 2

 3 Real estate 8766.9 9195.4 9710.9 10604.2 11569.7 13073.8 14441.7 15815.4 17595.6 20199.8 3

 4 Households (2,3) 7984.3 8363.0 8775.2 9553.7 10443.0 11837.0 13199.6 14501.5 16174.0 18616.9 4

 5 Nonprofit organizations 782.6 832.4 935.8 1050.5 1126.6 1236.8 1242.1 1313.9 1421.5 1582.9 5

 Equipment and software owned by

 6 nonprofit organizations (4) 105.0 108.9 115.5 124.6 134.0 145.0 154.7 168.7 183.4 199.3 6

 7 Consumer durable goods (4) 2370.7 2468.3 2561.7 2682.9 2835.0 3014.9 3144.2 3273.0 3380.3 3564.8 7

 8 Financial assets 21621.3 23520.1 26797.2 30090.6 34554.0 33385.8 32262.4 30341.9 35404.3 39189.5 8

 9 Deposits 3373.4 3519.3 3686.8 3903.1 4078.3 4408.7 4912.0 5192.7 5403.8 5789.6 9

10 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.1 57.5 10

11 Checkable deposits and currency 561.6 495.1 446.1 460.6 413.6 331.0 399.5 405.9 389.0 356.1 11

12 Time and savings deposits 2316.0 2460.8 2601.1 2698.2 2807.9 3069.7 3350.6 3665.1 4002.5 4472.0 12

13 Money market fund shares 472.4 527.9 602.3 706.6 816.1 959.8 1113.2 1071.7 960.2 904.1 13

14 Credit market instruments 2336.8 2534.8 2522.8 2582.8 2744.9 2654.1 2585.0 2762.3 3047.5 3355.2 14

15 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 97.3 110.4 105.9 136.1 15

16 Treasury securities 833.6 894.2 803.1 739.5 814.4 584.8 445.0 288.3 441.5 535.4 16

17 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 17

18 Other Treasury 648.6 707.2 616.6 552.8 628.0 400.1 254.6 93.4 237.7 331.0 18

19 Agency- and GSE-backed securities 223.0 340.8 398.9 452.3 552.0 608.7 441.5 300.6 437.9 405.7 19

20 Municipal securities 533.4 493.0 497.6 498.7 528.1 531.2 581.1 678.7 704.1 742.7 20

21 Corporate and foreign bonds 561.9 625.4 647.4 718.1 663.9 727.3 909.4 1266.1 1234.2 1401.0 21

22 Other loans and advances (5) 0.1 0.1 0.2 0.2 0.6 1.9 2.6 2.8 3.1 5.9 22

23 Mortgages 113.0 105.5 98.4 93.9 101.1 103.0 108.2 115.5 120.7 128.5 23

24 Corporate equities (2) 4434.2 4712.2 6144.3 7511.2 9769.9 8147.3 6829.5 5161.2 6787.7 7495.9 24

25 Mutual fund shares (6) 1253.0 1561.5 1948.8 2351.8 2894.9 2704.2 2614.6 2218.4 2904.3 3417.4 25

26 Security credit 127.6 162.9 215.5 276.7 323.9 412.4 454.3 412.7 475.4 578.3 26

27 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 27

28 Pension fund reserves 5715.3 6377.5 7354.8 8264.5 9265.2 9166.0 8766.4 8198.0 9722.4 10632.6 28

29 Equity in noncorporate business (7) 3486.6 3702.4 3907.9 4121.4 4320.5 4695.2 4822.7 5041.5 5560.9 6318.5 29

30 Miscellaneous assets 328.3 338.9 351.5 360.8 372.6 378.7 397.8 434.2 489.1 541.5 30

31 Liabilities 5053.9 5414.9 5762.1 6217.0 6794.4 7400.1 8031.2 8833.9 9860.3 11032.7 31

32 Credit market instruments 4856.7 5193.1 5494.3 5920.3 6416.1 7010.7 7682.9 8513.7 9500.1 10573.0 32

33 Home mortgages (8) 3334.4 3539.8 3755.9 4057.5 4435.2 4820.9 5327.8 6034.2 6886.0 7835.6 33

34 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1892.0 1999.9 2104.4 2219.4 34

35 Municipal securities (9) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 164.2 178.3 188.6 35

36 Bank loans n.e.c. 57.4 58.0 66.5 72.0 65.2 65.4 43.6 21.1 52.8 35.5 36

37 Other loans and advances 108.4 122.3 123.0 122.6 117.8 119.1 120.0 120.2 118.7 119.0 37

38 Commercial mortgages (9) 91.9 96.6 95.1 105.6 112.5 126.6 148.1 174.0 159.9 174.9 38

39 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 39

40 Trade payables (9) 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 40

 Deferred and unpaid

41 life insurance premiums 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 41

42 Net worth 27810.0 29877.7 33423.3 37285.4 42298.4 42219.3 41971.7 40765.1 46703.3 52120.6 42

 Memo:

 Replacement-cost value of structures:

43 Residential 6104.9 6464.0 6836.4 7304.0 7886.7 8468.4 9141.9 9765.6 10657.4 11997.5 43

44 Households 5816.6 6167.5 6525.3 6977.6 7541.6 8105.6 8760.7 9369.3 10239.3 11545.1 44

45 Farm households 171.3 176.8 187.1 197.1 210.8 223.1 235.3 244.9 259.7 281.0 45

46 Nonprofit organizations 117.0 119.7 124.0 129.3 134.4 139.7 145.9 151.3 158.5 171.4 46

47 Nonresidential (nonprofits) 590.9 618.5 660.9 710.3 760.4 813.2 866.6 907.3 957.8 1062.1 47

48 Disposable personal income 5408.2 5688.5 5988.8 6395.9 6694.9 7194.0 7486.8 7830.1 8162.5 8680.9 48

 Household net worth as percentage of

49 disposable personal income 514.2 525.2 558.1 583.0 631.8 586.9 560.6 520.6 572.2 600.4 49

 Owners’ equity in household real

50 estate (10) 4649.9 4823.1 5019.2 5496.2 6007.8 7016.1 7871.8 8467.3 9288.0 10781.3 50

 Owners’ equity as percentage of

51 household real estate (11) 58.2 57.7 57.2 57.5 57.5 59.3 59.6 58.4 57.4 57.9 51

(1) Sector includes farm households.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

(5) 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 50 divided by line 4.
FFA, 1995-2004, December 11, 2008 95

B.102 Balance Sheet of Nonfarm Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

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

 1 Assets 11460.9 12306.4 13233.3 14829.6 16649.3 19018.4 19127.8 19478.8 20074.1 21681.2 1

 2 Tangible assets 6502.4 6848.7 7424.5 8013.5 8555.4 9245.9 9228.9 9537.0 9965.3 10749.7 2

 3 Real estate (1) 3146.0 3337.7 3739.8 4161.4 4439.0 4845.5 4796.0 5040.3 5369.7 5918.0 3

 4 Equipment and software (2) 2286.6 2420.3 2551.5 2686.9 2864.3 3066.7 3167.3 3193.3 3250.3 3351.4 4

 5 Inventories (2) 1069.8 1090.7 1133.3 1165.2 1252.1 1333.6 1265.6 1303.4 1345.3 1480.3 5

 6 Financial assets 4958.5 5457.7 5808.7 6816.1 8093.8 9772.5 9898.9 9941.8 10108.8 10931.6 6

 7 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 7

 8 Checkable deposits and currency 205.1 214.3 206.9 195.0 231.0 246.4 181.9 141.1 190.9 178.4 8

 9 Time and savings deposits 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 9

10 Money market fund shares 60.0 67.6 87.8 126.4 154.9 191.4 301.9 335.7 299.0 324.3 10

11 Security RPs 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 11

12 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 12

13 Treasury securities 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 32.8 33.1 13

14 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 12.1 12.2 14

15 Municipal securities 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 15

16 Mortgages 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 16

17 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.7 58.5 58.6 17

18 Trade receivables 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.6 1702.4 1831.3 18

19 Mutual fund shares (1) 45.7 63.0 75.0 98.0 127.0 121.9 112.5 95.8 125.9 140.5 19

20 Miscellaneous assets 3062.9 3407.7 3622.8 4475.0 5427.5 6724.7 6940.5 7062.2 7117.4 7699.1 20

21 Liabilities 6009.5 6378.6 6628.8 7457.6 8407.3 9611.4 9809.5 9922.8 9867.4 10349.3 21

22 Credit market instruments 2940.2 3140.0 3472.1 3855.2 4276.0 4637.9 4833.7 4856.6 4973.9 5177.9 22

23 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 23

24 Municipal securities (3) 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.8 164.2 169.4 24

25 Corporate bonds (4) 1357.2 1485.2 1666.3 1881.2 2107.1 2271.1 2614.5 2747.9 2900.1 2975.6 25

26 Bank loans n.e.c. 601.8 642.1 692.7 768.8 808.8 852.7 743.7 635.5 548.3 547.2 26

27 Other loans and advances 469.4 488.1 539.7 600.4 633.1 715.8 721.5 743.4 750.3 805.4 27

28 Mortgages 219.6 230.4 262.8 264.0 343.9 365.8 418.5 449.2 528.6 582.6 28

29 Trade payables 877.5 927.0 992.1 1049.7 1228.2 1541.4 1437.7 1457.4 1402.7 1499.9 29

30 Taxes payable 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 30

31 Miscellaneous liabilities 2151.6 2261.6 2105.3 2488.7 2832.0 3354.0 3457.1 3515.9 3409.5 3583.5 31

32 Net worth (market value) 5451.4 5927.9 6604.5 7372.0 8242.0 9407.0 9318.3 9556.0 10206.7 11331.9 32

 Memo:

 Replacement-cost value of structures:

33 Residential 76.6 80.0 84.6 90.0 94.5 99.5 105.0 110.1 116.1 126.9 33

34 Nonresidential 3020.8 3168.4 3359.2 3538.9 3710.8 3969.3 4216.9 4363.8 4519.2 5001.8 34

 Market value of equities outstanding

35 (includes corporate farm equities) 6406.8 6804.3 8674.7 10962.4 14476.8 12444.5 10868.6 8212.4 10845.4 12086.2 35

36 Debt/net worth (percent) (5) 53.9 53.0 52.6 52.3 51.9 49.3 51.9 50.8 48.7 45.7 36

37 Debt/equities (percent) (6) 45.9 46.1 40.0 35.2 29.5 37.3 44.5 59.1 45.9 42.8 37

38 Equities/net worth (percent) (7) 117.5 114.8 131.3 148.7 175.6 132.3 116.6 85.9 106.3 106.7 38

 With tangible assets stated at historical cost:

39 Assets (8) 9842.0 10637.8 11303.8 12639.2 14296.4 16397.1 16727.7 16952.3 17293.0 18403.7 39

40 Tangible assets 4883.4 5180.1 5495.1 5823.1 6202.6 6624.6 6828.8 7010.4 7184.1 7472.1 40

41 Real estate 1924.2 2026.1 2131.7 2248.7 2371.1 2504.6 2644.2 2765.4 2864.7 2978.3 41

42 Equipment and software 1927.7 2086.3 2264.4 2437.1 2632.7 2849.8 2975.0 3013.5 3050.3 3104.2 42

43 Inventories 1031.5 1067.7 1099.0 1137.3 1198.8 1270.2 1209.5 1231.6 1269.2 1389.6 43

44 Net worth (historical cost) (9) 3832.4 4259.2 4675.1 5181.6 5889.1 6785.7 6918.2 7029.4 7425.6 8054.4 44

 Memo:

 Historical-cost value of structures:

45 Residential 32.5 34.1 35.8 37.5 39.6 41.9 44.3 46.8 49.6 52.6 45

46 Nonresidential 1696.7 1792.5 1895.5 2013.6 2131.9 2271.6 2408.8 2514.7 2623.4 2735.7 46

47 Debt/net worth (percent) (10) 76.7 73.7 74.3 74.4 72.6 68.3 69.9 69.1 67.0 64.3 47

 (1) At market value.

 (2) At replacement (current) cost.

 (3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

 (4) Through 1992, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

 (5) Line 22 divided by line 32.

 (6) Line 22 divided by line 35.

 (7) Line 35 divided by line 32.

 (8) Sum of lines 6 and 40.

 (9) Line 39 less line 21.

 (10) Line 22 divided by line 44.
96 FFA, 1995-2004, December 11, 2008

B.103 Balance Sheet of Nonfarm Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 4108.1 4399.7 4761.5 5264.6 5732.3 6385.4 6698.6 7065.7 7595.3 8490.2 1

 2 Tangible assets 3560.0 3756.5 3987.6 4272.3 4556.2 4962.5 5119.7 5408.7 5842.9 6440.4 2

 3 Real estate (1) 3209.5 3394.3 3614.7 3882.3 4141.9 4524.8 4675.7 4949.8 5367.1 5936.7 3

 4 Residential 2365.0 2515.2 2664.2 2859.6 3061.0 3337.5 3509.6 3756.7 4130.4 4628.6 4

 5 Nonresidential 844.6 879.2 950.5 1022.7 1081.0 1187.3 1166.1 1193.1 1236.7 1308.2 5

 6 Equipment and software (2) 294.2 304.8 313.3 328.6 348.4 367.5 377.4 390.2 405.0 425.7 6

 7 Residential (3) 35.6 36.6 36.5 36.8 37.4 38.8 39.8 40.4 40.3 41.8 7

 8 Nonresidential 258.6 268.2 276.8 291.8 310.9 328.6 337.6 349.8 364.7 383.9 8

 9 Inventories (2) 56.3 57.4 59.6 61.3 65.9 70.2 66.6 68.6 70.8 77.9 9

10 Financial assets 548.1 643.2 773.8 992.3 1176.1 1422.9 1578.8 1657.0 1752.5 2049.8 10

11 Checkable deposits and currency 104.7 124.0 146.2 150.9 155.6 164.1 164.5 167.1 172.9 259.2 11

12 Time and savings deposits 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 318.0 12

13 Money market fund shares 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 69.2 13

14 Treasury securities 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 14

15 Municipal securities 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 15

16 Mortgages 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 16

17 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Trade receivables 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 18

19 Miscellaneous assets 167.0 203.5 259.9 382.1 463.8 553.7 683.6 724.2 790.6 953.7 19

20 Insurance receivables 44.2 44.8 45.2 45.6 45.9 45.8 48.3 52.5 56.9 60.5 20

21 Equity investment in GSEs (4) 1.0 1.7 1.7 1.6 1.6 1.6 1.8 1.8 2.1 2.0 21

22 Other 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 731.6 891.3 22

23 Liabilities 1396.6 1529.1 1717.9 2019.8 2332.2 2673.0 2888.2 3084.1 3172.4 3516.8 23

24 Credit market instruments 1062.1 1131.1 1228.8 1404.2 1599.4 1795.8 1957.3 2107.1 2198.7 2443.8 24

25 Bank loans n.e.c. 164.7 193.6 237.3 262.1 312.8 361.2 405.3 430.4 441.7 468.9 25

26 Other loans and advances 92.4 94.4 100.6 107.1 116.5 126.9 123.2 126.9 131.6 132.8 26

27 Mortgages 805.0 843.2 890.9 1035.1 1170.1 1307.6 1428.8 1549.8 1625.3 1842.1 27

28 Trade payables 86.2 116.8 147.8 178.6 213.3 259.9 255.0 281.0 255.3 277.4 28

29 Taxes payable 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 29

30 Miscellaneous liabilities 214.8 245.5 301.3 392.9 466.5 552.6 607.3 625.9 648.8 717.6 30

31 Net worth (5) 2711.5 2870.6 3043.6 3244.7 3400.1 3712.4 3810.4 3981.6 4422.9 4973.3 31

 Memo:

 Replacement-cost value of structures:

32 Residential 1658.4 1726.6 1809.6 1906.2 2005.5 2107.8 2217.9 2317.4 2451.2 2678.0 32

33 Nonresidential 728.0 754.1 793.4 834.9 874.0 919.7 959.8 985.6 1008.0 1097.7 33

34 Debt/net worth (percent) (6) 39.2 39.4 40.4 43.3 47.0 48.4 51.4 52.9 49.7 49.1 34

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 23. Included in table B.100, line 28.

(6) Line 24 divided by line 31.
FFA, 1995-2004, December 11, 2008 97

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 2765.4 2067.7 3545.6 3862.1 5013.0 -79.1 -247.6 -1206.6 5938.2 5417.3 1

 2 Net investment 441.2 464.0 422.1 440.7 259.1 8.4 333.9 193.2 506.0 479.3 2

 3 Net physical investment 275.6 314.3 351.2 418.4 473.1 490.5 493.9 529.0 585.8 641.1 3

 4 Capital expenditures 861.0 924.2 986.2 1085.7 1179.7 1245.4 1293.0 1363.0 1459.0 1581.7 4

 5 - Consumption of fixed capital 585.4 609.9 635.0 667.3 706.6 754.9 799.1 834.0 873.2 940.6 5

 6 Net financial investment 165.5 149.7 70.9 22.3 -214.0 -482.1 -160.0 -335.8 -79.8 -161.8 6

 7 Net acquisition of financial assets 487.4 510.7 417.8 477.2 362.5 112.5 471.1 466.8 944.3 995.8 7

 8 - Net increase in liabilities 321.9 361.0 346.9 454.9 576.4 594.6 631.1 802.7 1024.1 1157.6 8

 Holding gains on assets

 9 at market value (2) 2308.5 1548.4 3159.4 3435.9 4711.9 12.2 -528.4 -1429.6 5298.9 4877.2 9

10 Real estate 194.8 236.7 301.2 644.0 707.1 1230.1 1085.3 1086.1 1412.7 2194.1 10

11 Corporate equities 1208.9 434.6 1649.4 1654.6 2415.8 -984.5 -827.4 -1480.7 1709.5 974.8 11

12 Mutual fund shares 109.7 145.5 182.6 207.0 471.0 -257.5 -250.6 -489.1 411.5 296.7 12

13 Equity in noncorporate business 144.9 220.9 267.3 297.3 285.3 409.8 146.6 304.6 473.9 775.6 13

 Life insurance and

14 pension fund reserves 650.1 510.7 758.8 633.0 832.6 -385.7 -682.2 -850.6 1291.3 635.9 14

 Holding gains on assets

15 at current cost (2) 5.7 -14.7 -38.6 -41.7 -46.2 -26.8 -65.8 -76.5 -98.2 -22.2 15

16 Consumer durable goods 5.4 -13.5 -36.2 -39.7 -45.0 -26.1 -65.1 -76.5 -98.4 -22.1 16

17 Equipment and software 0.3 -1.3 -2.4 -2.0 -1.3 -0.7 -0.7 -0.1 0.2 -0.1 17

18 Other volume changes (3) 10.0 70.0 2.7 27.3 88.2 -72.9 12.7 106.3 231.4 83.1 18

 Memo:

19 Net worth outstanding (4) 27810.0 29877.7 33423.3 37285.4 42298.4 42219.3 41971.7 40765.1 46703.3 52120.6 19

20 Disposable personal income 5408.2 5688.5 5988.8 6395.9 6694.9 7194.0 7486.8 7830.1 8162.5 8680.9 20

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

(2) Calculated as change in amount outstanding less net purchases during period.

(3) Consists of the difference between series for consumption of fixed capital published by BEA and statistical discontinuities.

(4) Table B.100, line 41.
98 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 420.1 476.5 676.6 767.5 870.0 1165.0 -88.7 237.7 650.8 1125.1 1

 2 Net investment 200.0 212.6 175.3 8.7 222.5 240.7 191.3 114.8 149.4 246.4 2

 3 Net physical investment 222.8 204.4 263.7 270.3 350.6 387.1 157.0 110.9 121.2 196.8 3

 4 Capital expenditures 617.6 638.9 743.8 778.5 863.9 928.5 802.6 737.1 749.9 825.7 4

 5 - Consumption of fixed capital 412.5 433.7 464.0 489.9 520.1 564.0 642.8 639.4 653.1 682.6 5

 6 - Inventory valuation adjustment -18.3 3.1 14.1 20.2 1.0 -14.1 11.3 -2.2 -13.6 -43.1 6

 7 - Nonproduced nonfinancial assets 0.6 -2.3 1.9 -1.9 -7.7 -8.5 -8.6 -10.9 -10.8 -10.6 7

 8 Net financial investment 35.5 55.5 -11.1 -46.1 -17.7 -28.2 82.4 45.2 69.2 174.1 8

 9 Net acquisition of financial assets 426.4 454.0 272.4 569.9 969.9 1209.2 177.6 130.1 82.6 783.1 9

10 - Net increase in liabilities 390.8 398.5 283.5 616.0 987.6 1237.4 95.2 84.9 13.4 609.0 10

11 Net corporate equity issues -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -41.4 -41.1 -124.4 11

 Holding gains on assets

12 at market value (2) 71.1 139.4 368.0 387.1 218.8 319.1 -143.7 160.9 306.5 514.5 12

13 Real estate 61.1 130.8 349.6 370.8 197.1 327.8 -129.9 178.5 287.3 501.4 13

14 Mutual fund shares 10.0 8.6 18.4 16.3 21.6 -8.7 -13.8 -17.6 19.1 13.1 14

 Holding gains on assets less

15 liabilities at current cost (2) 44.2 29.0 -5.7 20.5 90.3 -47.6 -61.0 91.7 42.1 153.2 15

16 Equipment and software 31.6 0.6 -27.4 -27.5 -11.5 -7.3 -21.9 -14.3 20.2 51.6 16

17 Inventories (3) 4.4 2.9 -8.7 -13.8 21.8 12.5 -26.6 22.0 15.1 43.9 17

18 Direct investment abroad 2.8 11.0 -17.6 -21.3 -7.8 -33.9 21.0 -8.4 12.0 67.8 18

19 - Foreign direct investment in U.S. -5.4 -14.5 -48.0 -83.1 -87.8 19.0 33.5 -92.4 5.2 10.2 19

20 Other volume changes (4) 104.9 95.5 139.0 351.2 338.4 652.8 -75.4 -129.8 152.9 211.1 20

 Memo:

21 Net worth outstanding (5) 5451.4 5927.9 6604.5 7372.0 8242.0 9407.0 9318.3 9556.0 10206.7 11331.9 21

(1) Sum of net investment (line 2), holding gains (lines 12 and 15), and other volume changes (line 20).

(2) Calculated as change in amount outstanding less net purchases during period.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities.

(5) Table B.102, line 32.
FFA, 1995-2004, December 11, 2008 99

R.103 Change in Net Worth of Nonfarm Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 145.0 159.1 173.0 201.2 155.4 312.3 98.0 171.2 441.4 550.4 1

 2 Net investment (2) 34.3 -13.8 -67.4 -90.6 -88.7 -44.4 -15.3 -87.0 38.5 -26.3 2

 3 Net physical investment 30.7 22.7 -8.6 -6.4 40.2 49.5 44.6 31.0 31.5 20.9 3

 4 Capital expenditures 140.9 138.9 117.4 129.9 190.0 218.2 193.9 182.5 192.9 197.5 4

 5 - Consumption of fixed capital 110.1 116.2 126.0 136.3 149.8 168.7 149.3 151.5 161.4 176.7 5

 6 Net acquisition of financial assets 75.2 95.1 130.7 218.5 183.8 246.8 155.9 78.2 95.5 297.3 6

 - Net increase in liabilities from:

 7 Credit market instruments 45.1 69.0 97.7 175.5 195.2 196.4 161.5 149.8 91.6 245.2 7

 8 Trade payables 12.4 30.6 31.0 30.8 34.7 46.6 -4.9 26.0 -25.7 22.2 8

 9 Taxes payable 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 9

10 Miscellaneous liabilities 13.5 29.7 56.5 92.3 73.9 86.0 55.3 18.9 23.2 68.8 10

11 Holding gains on real estate (3) 110.7 177.5 239.9 290.0 232.5 336.1 121.5 269.3 415.6 581.9 11

12 Residential 94.8 142.1 146.9 195.2 185.0 256.6 157.0 229.1 350.1 470.7 12

13 Nonresidential 15.9 35.4 93.1 94.7 47.5 79.4 -35.6 40.2 65.5 111.2 13

14 Holding gains on assets at current cost (3) 2.8 -1.9 -4.5 -9.1 -5.3 -2.3 -4.3 -5.8 -8.0 0.2 14

15 Residential equipment and software 0.0 0.5 -0.5 -0.2 -0.4 0.2 -0.0 -0.6 -1.4 -0.3 15

16 Nonresidential equipment and software 1.5 -2.4 -2.8 -7.1 -6.0 -3.9 -2.2 -6.5 -8.1 -4.0 16

17 Inventories 1.2 -0.0 -1.2 -1.8 1.1 1.4 -2.0 1.3 1.5 4.6 17

18 Other volume changes (4) -2.8 -2.7 4.9 10.9 16.8 22.9 -3.9 -5.3 -4.7 -5.4 18

 Memo:

19 Net worth outstanding (5) 2711.5 2870.6 3043.6 3244.7 3400.1 3712.4 3810.4 3981.6 4422.9 4973.3 19

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 18).

(2) Also equal to proprietor’s net investment shown on table F.103, line 29.

(3) Calculated as change in amount outstanding less net investment during period.

(4) Consists of statistical discontinuities.

(5) Table B.103, line 31.
100 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 2212.6 2376.1 2551.9 2724.2 2895.0 3125.9 3113.1 2958.7 3035.6 3254.1 1

 2 Personal current taxes 744.1 832.1 926.3 1027.0 1107.5 1235.7 1237.3 1051.8 1001.1 1046.3 2

 3 Taxes on production and imports 558.2 581.1 612.0 639.8 674.0 708.9 728.6 762.8 807.2 863.8 3

 4 Taxes on corporate income 211.0 223.6 237.1 239.2 248.8 255.0 194.9 182.6 233.1 293.3 4

 5 Taxes from the rest of the world 3.9 5.2 5.1 5.7 5.9 7.3 7.1 7.3 8.9 10.0 5

 6 Contributions for govt. social insurance 532.8 555.2 587.2 624.2 661.4 702.7 731.1 750.0 778.6 828.8 6

 7 Income receipts on assets 92.1 100.2 103.7 102.4 106.8 117.4 113.7 98.4 95.8 99.1 7

 8 Current transfer receipts 59.1 66.0 67.9 75.5 80.6 93.7 101.8 104.9 109.2 117.0 8

 9 Current surplus of government enterprises 11.4 12.7 12.6 10.3 10.1 5.3 -1.4 0.9 1.7 -4.2 9

10 Current expenditures, NIPA basis 2397.6 2492.1 2568.6 2633.4 2741.0 2886.5 3061.6 3240.8 3428.1 3623.2 10

11 Consumption expenditures 1136.5 1171.1 1216.6 1256.0 1334.0 1417.1 1501.6 1616.9 1736.5 1844.0 11

12 Government social benefits 860.3 904.3 933.9 954.9 990.4 1044.1 1146.6 1251.6 1319.5 1399.1 12

13 Other current transfer payments 12.1 17.1 13.9 14.6 15.1 18.3 13.9 18.8 23.6 26.2 13

14 Interest payments 354.6 365.3 371.4 372.4 357.3 362.8 344.1 315.1 300.6 309.3 14

15 Subsidies 34.0 34.3 32.9 35.4 44.2 44.3 55.3 38.4 47.9 44.6 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 16

17 Net government saving, NIPA basis -184.9 -116.0 -16.7 90.8 154.0 239.4 51.5 -282.1 -392.5 -369.1 17

18 + Consumption of fixed capital 165.0 169.3 174.1 179.0 187.0 197.0 206.0 211.6 218.2 230.2 18

19 - Insurance and pension fund reserves (2) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 19

20 + Net capital transfers (3) 19.6 23.1 26.8 32.4 32.5 35.6 35.7 29.0 11.2 13.6 20

21 = Gross saving and net capital transfers -4.0 73.0 180.9 297.8 369.6 470.3 289.9 -39.8 -162.5 -125.3 21

22 Gross investment 67.7 87.2 217.4 348.5 435.4 541.3 298.5 -24.5 -180.0 -85.8 22

23 Fixed investment 232.7 244.9 252.2 262.4 286.8 304.5 324.0 344.3 356.0 372.8 23

24 Nonproduced nonfinancial assets -0.8 2.3 -1.8 1.9 7.7 8.5 8.5 10.9 10.7 10.6 24

25 Net financial investment -164.2 -159.9 -32.9 84.2 140.9 228.3 -34.0 -379.6 -546.6 -469.2 25

26 Net acquisition of financial assets 41.2 73.4 106.4 105.5 144.9 -4.4 133.3 55.6 103.4 89.4 26

27 Gold, SDRs, and official foreign exchange 6.4 -2.9 2.5 6.0 -7.1 -0.6 4.6 3.4 -1.8 -3.1 27

28 Checkable deposits and currency 3.4 5.4 3.8 -20.6 70.1 -64.9 45.1 -12.0 16.2 -37.2 28

29 Time and savings deposits 6.9 12.0 6.8 16.1 14.7 11.6 16.2 25.9 -4.9 11.6 29

30 Money market fund shares 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.0 3.9 30

31 Security RPs -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 7.9 7.7 31

32 Credit market instruments -35.9 7.8 24.0 73.7 84.1 72.9 79.2 67.3 46.0 49.5 32

33 Open market paper 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 10.3 10.1 33

34 Agency- and GSE-backed securities (4) -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 22.5 21.9 34

35 Municipal securities -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.3 0.3 35

36 Corporate and foreign bonds 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 7.1 6.9 36

37 Mortgages -10.2 -3.4 -0.9 5.2 4.4 -2.1 -1.9 -4.8 6.0 9.9 37

38 Consumer credit 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 38

39 Other loans and advances (5) -13.6 7.5 0.8 -2.6 -5.4 -3.1 -7.9 -1.2 -2.1 -3.3 39

40 Corporate equities 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -17.0 -4.2 40

41 Mutual fund shares -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -5.2 -1.3 41

42 Trade receivables 4.5 6.5 3.1 8.5 13.3 10.2 13.3 -0.7 27.2 18.4 42

43 Taxes receivable -16.6 -4.5 -9.7 -6.1 12.1 -6.7 -5.6 2.5 41.6 48.7 43

44 Miscellaneous assets 62.3 1.7 70.1 14.6 -14.5 -26.6 -16.4 -28.5 -10.6 -4.6 44

45 Net increase in liabilities 205.5 233.3 139.3 21.3 3.9 -232.7 167.3 435.2 650.0 558.6 45

46 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 46

47 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 47

48 Credit market instruments 163.7 162.0 86.4 -27.4 -56.1 -284.8 81.4 374.8 506.5 452.1 48

49 Savings bonds 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 49

50 Other Treasury securities (6) 218.1 177.3 41.4 -96.2 -94.6 -298.7 -29.1 226.3 380.0 337.0 50

51 Budget agency securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 51

52 Municipal securities -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.4 120.0 115.1 52

53 Multifamily residential mortgages 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 Trade payables 12.5 18.8 10.7 12.7 22.4 29.4 30.2 29.2 101.6 45.5 54

55 Insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 55

56 Miscellaneous liabilities (7) 25.3 51.8 40.6 34.1 38.2 22.9 53.0 28.7 40.3 59.2 56

57 Discrepancy -71.7 -14.2 -36.6 -50.7 -65.8 -71.1 -8.6 -15.3 17.5 -39.5 57

 Memo:

58 Net govt. saving less fixed investment (8) -417.7 -360.8 -268.8 -171.5 -132.8 -65.1 -272.5 -626.4 -748.4 -741.9 58

59 Adjustment between NIPA and FOF (9) 253.4 200.9 235.9 255.7 273.7 293.4 238.5 256.4 212.1 272.2 59

60 Items to be financed (10) -164.2 -159.9 -32.9 84.2 140.9 228.3 -34.0 -369.9 -536.4 -469.7 60

(1) This table is consistent with NIPA table 3.1 in the Survey of Current Business, Department of Commerce.

(2) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector.

 Includes value of Treasury and agency- and GSE-backed securities held by state and local government employee retirement funds.

(3) Table F.9, line 1.

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

(5) Excludes loans to state and local governments.

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

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

 retirement fund, and foreign service retirement and disability fund.

(8) Line 17 less line 23.

(9) Line 18 plus line 20 less sum of lines 19, 24, and 56.

(10) Line 57 plus line 58.
FFA, 1995-2004, December 11, 2008 101

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1253.9 1412.3 1546.1 1684.4 1889.0 1888.3 2024.7 2065.0 2163.9 2239.9 1

 2 Gold, SDRs, and official foreign exchange 53.8 44.9 42.0 51.0 44.4 41.0 43.1 51.1 55.1 54.5 2

 3 Checkable deposits and currency 55.5 66.1 73.8 51.5 120.1 56.6 103.2 89.0 102.6 64.1 3

 4 Time and savings deposits 62.9 74.9 81.8 97.9 112.5 124.1 140.3 166.3 161.4 173.0 4

 5 Money market fund shares 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 62.7 66.6 5

 6 Security RPs 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 123.5 131.2 6

 7 Credit market instruments 536.7 544.6 568.7 642.6 759.8 832.8 912.0 979.3 1025.4 1074.9 7

 8 Open market paper 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 161.6 171.7 8

 9 Agency- and GSE-backed securities (1) 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 351.2 373.2 9

10 Municipal securities 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.4 4.7 10

11 Corporate and foreign bonds 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 111.3 118.2 11

12 Mortgages 171.3 167.9 167.0 172.3 209.5 207.4 205.5 200.7 206.7 216.6 12

13 Consumer credit 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 13

14 Other loans and advances (2) 121.2 128.8 129.7 127.3 122.1 118.9 111.0 109.8 107.8 104.5 14

15 Corporate equities 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 84.7 90.0 15

16 Mutual fund shares 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 25.9 27.5 16

17 Trade receivables 100.4 106.9 110.0 118.5 127.8 138.0 151.3 150.6 177.8 196.2 17

18 Taxes receivable 35.9 104.2 97.2 96.3 111.3 124.6 135.5 145.2 159.8 179.7 18

19 Miscellaneous assets 221.1 222.9 293.6 291.7 277.2 250.6 234.1 205.7 185.2 182.2 19

20 Total liabilities 5265.4 5502.6 5641.1 5669.6 5681.9 5446.9 5621.8 6057.3 6709.7 7267.0 20

21 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 21

22 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 22

23 Credit market instruments 4384.0 4546.0 4632.4 4605.1 4549.0 4264.1 4345.5 4720.3 5226.8 5678.8 23

24 Savings bonds 185.0 187.0 186.5 186.6 186.4 184.8 190.3 194.9 203.8 204.4 24

25 Other Treasury securities (3) 3133.7 3311.1 3352.5 3256.3 3161.7 2863.0 2833.9 3060.2 3440.2 3777.2 25

26 Budget agency securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 26

27 Municipal securities 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.5 1437.9 1557.9 1673.0 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 28

29 Trade payables 310.0 328.8 339.5 352.3 380.3 409.7 439.9 469.1 570.6 616.1 29

30 Insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 30

31 Miscellaneous liabilities (4) 513.0 568.7 608.3 649.6 690.6 711.3 772.0 800.9 843.6 901.6 31

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

(2) Excludes loans to state and local governments.

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

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

 retirement fund, and foreign service retirement and disability fund.
102 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets -21.9 -35.9 -43.2 -46.5 -66.6 -75.3 -63.2 -34.6 -13.2 -37.1 1

 2 Checkable deposits and currency 0.3 0.2 0.4 0.6 0.2 1.2 0.6 -0.2 0.1 0.1 2

 3 Time and savings deposits 8.3 14.3 16.8 16.4 -19.7 -23.7 -35.1 -5.5 2.3 -4.8 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 4

 5 Security RPs -0.4 3.0 0.1 0.0 -0.3 -9.0 -1.5 -0.6 1.1 0.4 5

 6 Credit market instruments 21.8 -11.2 37.3 -23.7 89.0 -123.7 -19.6 -36.5 73.3 -10.5 6

 7 Open market paper -0.4 3.0 0.1 0.1 0.4 -7.4 -0.3 -1.4 -0.9 -0.3 7

 8 Treasury securities 1.6 -5.1 3.2 -20.6 18.6 -11.7 -0.4 -12.7 14.3 -6.9 8

 9 Agency- and GSE-backed securities 3.2 -12.3 7.1 -18.2 30.4 -37.3 1.8 -17.9 35.6 7.7 9

10 Corporate and foreign bonds 17.4 3.1 26.5 15.4 39.6 -66.1 -21.3 -4.7 24.3 -10.8 10

11 Mortgages 0.1 0.0 0.5 -0.4 0.0 -1.3 0.6 0.2 -0.1 -0.1 11

12 Corporate equities -60.8 -63.1 -105.3 -52.5 -128.9 85.1 39.6 -16.0 -34.9 -12.6 12

13 Mutual fund shares 14.1 7.6 7.3 7.8 5.9 41.7 -17.6 20.2 -41.6 11.2 13

14 Miscellaneous assets -5.2 13.4 0.3 4.9 -12.8 -47.0 -29.6 3.9 -13.4 -20.9 14

15 Unallocated insurance contracts (1) -5.6 2.7 -5.3 -3.4 -14.2 -5.2 -1.0 11.0 -10.7 -24.5 15

16 Contributions receivable 1.6 1.6 5.4 8.0 -7.5 -17.4 -25.8 -4.5 -0.0 -2.0 16

17 Other -1.3 9.0 0.2 0.3 8.9 -24.4 -2.8 -2.6 -2.6 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

 1 Net acquisition of financial assets 54.9 39.6 27.4 88.1 51.8 51.9 43.4 51.5 39.8 46.9 1

 2 Checkable deposits and currency 0.6 0.6 1.0 -1.4 1.1 2.1 -1.4 0.5 0.1 0.1 2

 3 Time and savings deposits -0.2 -5.4 -5.8 13.3 -19.6 0.8 -1.3 1.6 0.7 0.2 3

 4 Money market fund shares 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 4

 5 Security RPs 0.7 1.9 1.1 1.1 2.3 3.9 -7.4 2.0 0.3 1.1 5

 6 Credit market instruments -4.9 5.1 7.1 16.6 18.2 -1.3 -16.4 27.9 -4.1 10.1 6

 7 Open market paper 1.3 3.0 1.5 3.0 5.6 1.3 -8.0 3.6 -2.3 0.6 7

 8 Treasury securities -1.9 0.3 -1.2 7.4 -1.9 1.8 -7.2 9.3 -1.1 2.9 8

 9 Agency- and GSE-backed securities -1.6 1.0 -0.9 1.0 9.1 4.4 3.4 -1.5 2.7 3.6 9

10 Corporate and foreign bonds -3.4 0.2 7.6 5.0 3.5 -10.2 -1.8 16.1 -3.4 3.2 10

11 Mortgages 0.7 0.7 0.3 0.2 1.8 1.5 -2.8 0.4 -0.0 -0.1 11

12 Corporate equities -30.2 -28.4 -45.4 21.0 -51.5 -22.3 67.0 -45.5 10.9 23.8 12

13 Mutual fund shares 57.8 38.0 48.0 45.8 93.5 75.6 35.7 39.7 37.9 24.8 13

14 Miscellaneous assets 24.7 16.7 7.9 -10.7 -4.2 -11.1 -26.7 16.0 -5.7 -13.9 14

15 Unallocated insurance contracts (2) 13.4 2.1 -4.6 -20.1 -4.3 -30.4 12.9 1.2 -7.3 -10.8 15

16 Contributions receivable 3.8 3.8 3.0 4.8 -10.8 -1.7 1.2 6.0 -0.1 -1.1 16

17 Other 7.6 10.8 9.6 4.5 10.9 21.0 -40.7 8.8 1.8 -2.0 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

 1 Total held at: 122.2 132.8 151.8 191.5 219.7 239.8 182.9 200.4 192.5 228.1 1

 2 Commercial banking 6.5 0.7 0.1 -0.5 -3.4 8.9 3.1 5.4 0.5 1.9 2

 3 Saving institutions -1.9 -3.9 -6.0 -5.3 -3.1 -2.3 -1.8 -0.7 1.0 -1.1 3

 4 Credit unions 1.2 0.9 1.2 0.3 0.9 0.4 3.2 3.4 3.5 0.9 4

 5 Life insurance companies 11.2 10.3 47.5 24.6 40.8 19.5 26.6 82.2 5.2 -14.6 5

 6 Money market mutual funds 12.9 8.9 2.0 24.0 23.0 7.0 24.0 16.0 -16.0 -15.0 6

 7 Mutual funds 62.5 53.3 94.6 89.7 95.6 49.7 33.2 18.7 104.3 70.4 7

 8 Other self-directed accounts 29.8 62.5 12.4 58.6 65.8 156.5 94.6 75.4 94.0 185.8 8

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

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund sector (line 6).
FFA, 1995-2004, December 11, 2008 103

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1466.1 1590.2 1763.5 1907.7 2074.6 1979.0 1810.2 1639.3 1994.5 2132.2 1

 2 Checkable deposits and currency 2.1 2.2 2.6 3.2 3.4 4.7 5.3 5.1 5.1 5.2 2

 3 Time and savings deposits 75.4 89.7 106.4 122.9 103.2 79.5 44.3 38.8 41.1 36.3 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 4

 5 Security RPs 11.2 14.2 14.2 14.3 14.0 4.9 3.5 2.8 3.9 4.4 5

 6 Credit market instruments 460.1 448.9 486.3 462.6 551.6 427.9 408.3 371.8 445.1 434.7 6

 7 Open market paper 11.2 14.2 14.2 14.4 14.8 7.4 7.1 5.7 4.8 4.5 7

 8 Treasury securities 79.7 74.7 77.9 57.2 75.9 64.2 63.9 51.2 65.5 58.6 8

 9 Agency- and GSE-backed securities 185.6 173.3 180.4 162.2 192.6 155.3 157.1 139.2 174.8 182.5 9

10 Corporate and foreign bonds 178.8 181.9 208.4 223.8 263.3 197.2 175.9 171.3 195.6 184.7 10

11 Mortgages 4.8 4.9 5.4 5.0 5.0 3.7 4.4 4.6 4.5 4.4 11

12 Corporate equities 688.8 764.3 844.0 949.1 1006.3 1076.0 1060.7 917.6 1170.8 1294.2 12

13 Mutual fund shares 68.5 91.0 122.3 156.6 199.0 236.4 180.8 188.8 197.4 233.6 13

14 Miscellaneous assets 160.1 179.9 187.7 199.1 197.2 149.7 107.4 114.4 131.0 123.9 14

15 Unallocated insurance contracts (1) 80.7 89.9 92.0 95.1 91.9 86.1 72.4 86.4 105.7 95.0 15

16 Contributions receivable 45.8 47.5 52.8 60.9 53.4 36.0 10.2 5.7 5.7 3.7 16

17 Other 33.5 42.5 42.8 43.1 52.0 27.6 24.8 22.2 19.6 25.2 17

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

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

Billions of dollars

 1 Total financial assets 1432.7 1634.2 1949.3 2236.2 2519.2 2488.6 2238.0 2037.9 2525.6 2783.0 1

 2 Checkable deposits and currency 2.8 3.4 4.3 2.9 4.0 6.1 4.7 5.1 5.2 5.3 2

 3 Time and savings deposits 34.8 29.4 23.7 37.0 17.4 18.2 17.0 18.6 19.3 19.5 3

 4 Money market fund shares 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 4

 5 Security RPs 11.3 13.2 14.3 15.4 17.7 21.6 14.2 16.2 16.5 22.1 5

 6 Credit market instruments 148.3 153.4 160.5 177.2 195.3 194.0 177.5 205.4 201.3 211.5 6

 7 Open market paper 13.7 16.6 18.1 21.1 26.6 27.9 19.9 23.6 21.3 21.9 7

 8 Treasury securities 41.0 41.3 40.1 47.5 45.6 47.4 40.2 49.5 48.4 51.3 8

 9 Agency- and GSE-backed securities 27.5 28.5 27.5 28.6 37.7 42.1 45.4 44.0 46.7 50.3 9

10 Corporate and foreign bonds 62.3 62.5 70.1 75.1 78.6 68.4 66.6 82.6 79.3 82.4 10

11 Mortgages 3.8 4.4 4.7 4.9 6.7 8.2 5.4 5.8 5.8 5.6 11

12 Corporate equities 568.0 638.8 759.7 920.1 959.9 894.6 848.0 670.9 925.8 1039.4 12

13 Mutual fund shares 288.5 381.6 537.8 633.3 857.5 895.3 782.1 743.1 929.4 1044.6 13

14 Miscellaneous assets 341.1 365.4 386.5 385.4 390.4 377.6 319.5 294.0 343.7 355.8 14

15 Unallocated insurance contracts (2) 241.4 251.1 259.7 249.2 254.1 222.0 203.4 163.2 211.3 233.5 15

16 Contributions receivable 37.9 41.7 44.7 49.6 38.7 37.0 38.2 44.2 44.1 43.0 16

17 Other 61.8 72.6 82.1 86.7 97.6 118.6 77.9 86.6 88.4 79.3 17

(1) Includes 401(k) type plans.

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

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

Billions of dollars

 1 Total held at: 1288.0 1467.0 1728.0 2150.0 2651.0 2629.0 2619.0 2533.0 2993.0 3299.0 1

 2 Commercial banking 151.1 151.9 152.0 151.5 148.1 157.0 160.1 165.6 166.1 168.0 2

 3 Saving institutions 76.9 73.0 67.0 61.8 58.7 56.4 54.6 53.8 54.8 53.7 3

 4 Credit unions 33.0 33.8 35.0 35.3 36.2 36.7 39.9 43.3 46.8 47.7 4

 5 Life insurance companies 94.3 110.3 160.0 190.1 245.5 245.5 251.0 308.3 338.4 347.0 5

 6 Money market mutual funds 74.1 83.0 85.0 109.0 132.0 139.0 163.0 179.0 163.0 148.0 6

 7 Mutual funds 376.4 481.0 654.0 819.0 1081.0 1049.0 963.3 824.0 1093.0 1277.0 7

 8 Other self-directed accounts 482.1 533.9 575.0 783.3 949.5 945.4 987.1 959.0 1130.9 1257.7 8

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

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

 sector (line 6).
104 FFA, 1995-2004, December 11, 2008

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 32863.9 35292.6 39185.4 43502.4 49092.8 49619.4 50002.9 49599.0 56563.7 63153.4 1

 2 Tangible assets 11242.5 11772.5 12388.1 13411.8 14538.8 16233.6 17740.5 19257.1 21159.4 23963.9 2

 3 Financial assets 21621.3 23520.1 26797.2 30090.6 34554.0 33385.8 32262.4 30341.9 35404.3 39189.5 3

 4 Deposits 3373.4 3519.3 3686.8 3903.1 4078.3 4408.7 4912.0 5192.7 5403.8 5789.6 4

 5 Credit market instruments 2336.8 2534.8 2522.8 2582.8 2744.9 2654.1 2585.0 2762.3 3047.5 3355.2 5

 6 Equity shares at market value 7656.5 8701.1 11204.1 13581.8 17210.2 15354.8 13493.8 10614.3 14139.5 16008.9 6

 7 Directly held 4434.2 4712.2 6144.3 7511.2 9769.9 8147.3 6829.5 5161.2 6787.7 7495.9 7

 8 Indirectly held 3222.4 3988.9 5059.8 6070.6 7440.4 7207.5 6664.3 5453.1 7351.8 8513.0 8

 9 Life insurance companies 274.7 373.3 510.5 665.4 904.4 882.8 806.5 692.5 887.3 1028.9 9

10 Private pension funds 1504.8 1724.4 2089.0 2462.4 2812.6 2871.2 2630.2 2223.6 2923.2 3301.8 10

11 Defined benefit plans 726.7 821.4 926.6 1057.8 1154.3 1248.0 1184.6 1031.1 1300.2 1452.9 11

12 Defined contribution plans 778.1 902.9 1162.4 1404.7 1658.3 1623.2 1445.6 1192.4 1623.0 1848.9 12

13 State and local govt. retirement funds 738.3 892.5 1114.4 1268.4 1512.5 1428.5 1386.6 1157.4 1557.3 1761.2 13

14 Federal government retirement funds 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.9 79.9 99.2 14

15 Mutual funds 693.2 979.9 1316.0 1631.3 2153.9 1968.4 1791.8 1333.7 1904.1 2321.9 15

16 Other 8254.6 8764.9 9383.6 10022.9 10520.6 10968.1 11271.6 11772.7 12813.5 14035.7 16

17 Liabilities 5053.9 5414.9 5762.1 6217.0 6794.4 7400.1 8031.2 8833.9 9860.3 11032.7 17

18 Net worth 27810.0 29877.7 33423.3 37285.4 42298.4 42219.3 41971.7 40765.1 46703.3 52120.6 18

 Memo:

19 Equity shares excluding defined benefit plans 6191.6 6987.2 9163.1 11255.6 14543.4 12678.3 10922.5 8418.9 11264.2 12775.5 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) 23.3 24.7 28.6 31.2 35.1 30.9 27.0 21.4 25.0 25.3 20

21 Financial assets (line 3) 35.4 37.0 41.8 45.1 49.8 46.0 41.8 35.0 39.9 40.9 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.