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For use at 12:00 p.m., eastern time Thursday June 10, 2010 FEDERAL RESERVE statistical release Z.1 Flow of Funds Accounts of the United States Flows and Outstandings First Quarter 2010 Board of Governors of the Federal Reserve System, Washington DC 20551 Flow of Funds Summary Statistics First Quarter 2010 C Debt of the domestic nonfinancial sectors is estimated to have expanded at a seasonally adjusted annual rate of 3½ percent in the first quarter of 2010, 2¼ percentage points faster than in the previous quarter. Private debt contracted again in the first quarter, while government debt continued to expand at a rapid rate. Household debt contracted at an annual rate of 2½ percent in the first quarter, the seventh consecutive quarter of decline. Home mortgage debt fell at an annual rate of 3¾ percent, a significantly faster decline than in the fourth quarter, while consumer credit contracted at an annual rate of 1½ percent. Nonfinancial business debt was flat in the first quarter, after four consecutive quarters of contraction. Bank loans and commercial mortgages continued to decline, while corporate bonds and commercial paper expanded. State and local government debt expanded at an annual rate of 4¼ percent in the first quarter, about the same pace as in the previous quarter. Federal government debt increased at an annual rate of 18½ percent in the first quarter, significantly faster than in the previous quarter, but below the pace seen in 2009 as a whole. At the end of the first quarter of 2010, the level of domestic nonfinancial debt outstanding was $35.0 trillion; household debt was $13.5 trillion, nonfinancial business debt was $10.9 trillion, and total government debt was $10.5 trillion. Household net worth—the difference between the value of assets and liabilities—was an estimated $54.6 trillion at the end of the first quarter, up $1.1 trillion from the end of the fourth quarter of 2009. Growth of Domestic Nonfinancial Debt1 Percentage changes; quarterly data are seasonally adjusted annual rates P P State and local govts. 1.4 8.8 11.1 8.3 7.3 Federal Total Households Business 2000 2001 2002 2003 2004 5.0 6.3 7.4 8.1 8.8 9.1 9.6 10.8 11.8 11.0 9.3 5.7 2.8 2.3 6.2 2005 2006 2007 2008 2009 9.5 9.0 8.7 6.0 3.1 11.1 10.1 6.7 0.3 -1.7 8.7 10.6 13.1 5.4 -2.5 10.2 8.3 9.5 2.1 4.8 7.0 3.9 4.9 24.2 22.7 2009:Q1 Q2 Q3 Q4 3.8 4.3 2.7 1.3 -1.2 -1.6 -2.5 -1.6 -0.7 -2.9 -3.0 -3.5 4.7 4.0 5.6 4.6 22.6 28.2 20.6 12.6 2010:Q1 3.5 -2.4 1. Changes shown are on an end-of-period basis. 0.0 4.3 18.5 -8.0 -0.2 7.6 10.9 9.0 Table of Contents Title Table Page Flow of Funds Accounts, First Quarter 2010 1 Availability of Data for Latest Quarter 4 Debt Growth by Sector D.1 7 Borrowing by Sector D.2 8 Debt Outstanding by Sector D.3 9 Flows Table Page Levels Table Page Total Net Borrowing and Lending in Credit Markets F.1 10 L.1 60 Credit Market Borrowing by Nonfinancial Sectors F.2 11 L.2 61 Credit Market Borrowing by Financial Sectors F.3 11 L.3 61 Credit Market Borrowing, All Sectors, by Instrument F.4 12 L.4 62 Total Liabilities and Its Relation to Total Financial Assets F.5 12 L.5 62 Distribution of Gross Domestic Product F.6 13 Distribution of National Income F.7 14 Saving and Investment F.8 15 Net Capital Transfers F.9 16 Derivation of Measures of Personal Saving F.10 17 L.10 63 Title Summaries Flows Table Page Levels Table Page Households and Nonprofit Organizations F.100 18 L.100 64 Nonfinancial Business F.101 19 L.101 65 Nonfarm Nonfinancial Corporate Business F.102 20 L.102 66 Nonfarm Noncorporate Business F.103 21 L.103 67 Farm Business F.104 21 L.104 67 State and Local Governments F.105 22 L.105 68 Federal Government F.106 23 L.106 68 Rest of the World F.107 24 L.107 69 Monetary Authority F.108 25 L.108 70 Commercial Banking F.109 26 L.109 71 U.S.-Chartered Commercial Banks F.110 27 L.110 72 Foreign Banking Offices in U.S. F.111 28 L.111 73 Bank Holding Companies F.112 29 L.112 74 Banks in U.S.-Affiliated Areas F.113 29 L.113 74 Savings Institutions F.114 30 L.114 75 Credit Unions F.115 31 L.115 76 Property-Casualty Insurance Companies F.116 31 L.116 76 Life Insurance Companies F.117 32 L.117 77 Private Pension Funds F.118 32 L.118 77 State and Local Government Employee Retirement Funds F.119 33 L.119 78 Federal Government Retirement Funds F.120 33 L.120 78 Money Market Mutual Funds F.121 34 L.121 79 Mutual Funds F.122 34 L.122 79 Title Sectors Title Flows Table Page Levels Table Page Closed-End and Exchange-Traded Funds F.123 34 L.123 79 Government-Sponsored Enterprises F.124 35 L.124 80 Agency- and GSE-backed Mortgage Pools F.125 35 L.125 80 Issuers of Asset-Backed Securities F.126 36 L.126 81 Finance Companies F.127 36 L.127 81 Real Estate Investment Trusts F.128 37 L.128 82 Security Brokers and Dealers F.129 38 L.129 83 Funding Corporations F.130 38 L.130 83 Gold and Official Foreign Exchange Holdings F.200 39 L.200 84 SDR Certificates and Treasury Currency F.201 39 L.201 84 U.S. Deposits in Foreign Countries F.202 39 L.202 84 Net Interbank Transactions F.203 40 L.203 85 Checkable Deposits and Currency F.204 41 L.204 86 Time and Savings Deposits F.205 42 L.205 87 Money Market Mutual Fund Shares F.206 42 L.206 87 Federal Funds and Security Repurchase Agreements F.207 43 L.207 88 Open Market Paper F.208 43 L.208 88 Treasury Securities F.209 44 L.209 89 Instruments Flows Levels Title Table Page Table Page Agency- and GSE-backed Securities F.210 45 L.210 90 Municipal Securities and Loans F.211 46 L.211 91 Corporate and Foreign Bonds F.212 46 L.212 91 Corporate Equities F.213 47 L.213 92 Mutual Fund Shares F.214 47 L.214 92 Bank Loans Not Elsewhere Classified F.215 48 L.215 93 Other Loans and Advances F.216 49 L.216 94 Total Mortgages F.217 50 L.217 95 Home Mortgages F.218 51 L.218 96 Multifamily Residential Mortgages F.219 51 L.219 96 Commercial Mortgages F.220 52 L.220 97 Farm Mortgages F.221 52 L.221 97 Consumer Credit F.222 53 L.222 98 Trade Credit F.223 53 L.223 98 Security Credit F.224 53 L.224 98 Life Insurance and Pension Fund Reserves F.225 54 L.225 99 Taxes Payable by Businesses F.226 54 L.226 99 Proprietors' Equity in Noncorporate Business F.227 54 L.227 99 Total Miscellaneous Financial Claims F.228 55 L.228 100 Identified Miscellaneous Financial Claims - Part I F.229 56 L.229 101 Identified Miscellaneous Financial Claims - Part II F.230 57 L.230 102 Unidentified Miscellaneous Financial Claims F.231 58 L.231 103 Sector Discrepancies F.11 59 Instrument Discrepancies F.12 59 Balance Sheet Table Page Table Page Households and Nonprofit Organizations B.100 104 R.100 107 Nonfinancial Corporate Business B.102 105 R.102 108 Nonfarm Noncorporate Business B.103 106 R.103 109 Title Reconciliation Balance Sheet and Reconciliation Tables Flows Table Page Levels Table Page Nonprofit Organizations F.100.a 110 L.100.a 111 Consolidated Statement for Federal, State, and Local Governments F.106.c 112 L.106.c 113 Private Pension Funds: Defined Benefit Plans F.118.b 114 L.118.b 115 Private Pension Funds: Defined Contribution Plans F.118.c 114 L.118.c 115 Individual Retirement Accounts (IRAs) F.225.i 114 L.225.i 115 Title Supplementary Tables Flow of Funds Matrix for 2009 Balance Sheet of Households and Nonprofit Organizations with Equity Detail 116 117 B.100.e 118 1 Flow of Funds Accounts, First Quarter 2010 This publication presents the Flow of Funds Accounts for 2010:Q1. L.119) have been revised from 2006:Q3 forward to reflect new benchmark data from the Census Bureau. Data revisions and other changes. The statistics in the attached tables reflect the use of new or revised source data. Most significant revisions appear in recent quarters; however, new source information resulted in changes to data for earlier periods. 7. The Integrated Macroeconomic Accounts for the United States, which combine the Flow of Funds Accounts with the National Income and Product Accounts, are now available through the Federal Reserve’s Data Download Program at www.federalreserve.gov/datadownload/. Annual data are available from 1960 through 2008. Slightly less detailed tables are available quarterly from 1992:Q1 to 2010:Q1. These tables are also available on the Bureau of Economic Analysis’ website at www.bea.gov. 1. As a result of two new accounting rules, FAS 166 and 167, the assets and liabilities of some special purpose entities (SPEs) have been moved onto the balance sheets of the U.S.-chartered commercial bank sector (table L.110), the government-sponsored enterprise sector (table L.124), and the finance company sector (table L.127). The consolidated assets and liabilities were removed from the agency- and GSE-backed mortgage pool sector (L.125) and the issuers of asset-backed securities (ABS) sector (table L.126). Almost all of the consolidations resulting from the new accounting rules occurred in the first quarter of 2010. In the Flow of Funds Accounts, these changes are treated as “discontinuities” that affect the levels of outstanding assets and liabilities in the relevant sectors, but not the flows (see below for more information on the relationship among flows, outstandings, and discontinuities). 2. Assets of the nonfarm nonfinancial corporate business sector (tables F.102 and L.102) have been revised from 2008:Q1 forward to reflect advance data from the Internal Revenue Service (IRS) Statistics of Income (SOI) for 2008. 3. The property-casualty insurance sector (tables F.116 and L.116) has been modified to include two additional asset categories: money market fund shares and open market paper. 4. The life insurance sector (tables F.117 and L.117) has been modified to include an additional liability category, security RPs (net). 5. Assets of the private pension fund sector (tables F.118, F.118.b, F.118.c, L.118, L.118.b, and L.118.c), have been revised from 2005:Q1 forward to reflect new data from the Department of Labor Form 5500 and the Investment Company Institute. 6. Assets of the state and local government employee retirement fund sector (tables F.119 and Explanatory notes for tables D.1, D.2, and D.3. Domestic debt comprises credit market funds borrowed by U.S. entities from both domestic and foreign sources, while foreign debt represents amounts borrowed by foreign financial and nonfinancial entities in U.S. markets only. Financial sectors consist of government-sponsored enterprises, agency- and GSE-backed mortgage pools, and private financial institutions. Credit market debt consists of debt securities, mortgages, bank loans, commercial paper, consumer credit, U.S. government loans, and other loans and advances; it excludes trade debt, loans for the purpose of carrying securities, and funds raised from equity sources. Growth rates in table D.1 are calculated by dividing seasonally adjusted flows from table D.2 by seasonally adjusted levels at the end of the previous period from table D.3. Seasonally adjusted levels in flow of funds statistics are derived by carrying forward year-end levels by seasonally adjusted flows. Growth rates calculated from changes in unadjusted levels printed in table L.2 can differ from those in table D.1. Relation of Flows to Outstandings. Estimates of financial assets and liabilities outstanding are linked to data on flows. However, figures on outstandings contain discontinuities or breaks in series that could affect analysis of particular relationships over time. Specifically, outstandings in the flow of funds accounts are related to the flows in the following way: Outstanding t = Outstanding t-1+ Flow t+ Discontinuityt where “t” is the time period. B B B B B B B B Discontinuities result from changes in valuation, breaks in source data, and changes in definitions. For most series, the value of the 2 discontinuity is zero for nearly all time periods. However, in a few instances, the discontinuity is nonzero for almost all time periods, or is quite large in a particular quarter, such as a period when there is a sharp increase or decrease in equity prices or a major break in source data. Availability of Data. Flow of funds statistics are updated about ten weeks following the end of a quarter. This publication — the Z.1 release — is available from the Board's Publications Services. Flow of funds data are also available electronically through the Internet at the following location: The discontinuities in a series can distort estimated rates of growth in assets and liabilities between periods. In order to minimize these distortions, percentage changes in assets and liabilities in flow of funds releases should be calculated as: www.federalreserve.gov/releases/Z1 Percentage change t = (Flow t / Outstanding t-1) * 100 B B B B B B Preliminary Estimates. Figures shown for the most recent quarter in these tables are based on preliminary and incomplete information. A summary list of the principal sources of information available when the latest quarter's data were compiled is provided in a table following this introduction. The distinction between “available” data and “missing” data is not between final and preliminary versions of data, but rather between those source estimates that are fully ready when the latest quarterly publication is compiled and those that are not yet completed. However, the items that are shown as available are, in general, also preliminary in the sense that they are subject to revision by source agencies. Margins of Uncertainty. Flow of funds statistics are subject to uncertainties resulting from measurement errors in source data, incompatibilities among data from different sources, potential revisions in both financial and nonfinancial series, and incomplete data in parts of the accounts. The size of these uncertainties cannot be quantified in precise statistical terms, but allowance for them is explicitly made throughout the accounts by the inclusion of “discrepancies” for various sectors and instrument types. A discrepancy for a sector is the difference between its measured sources of funds and its measured uses of funds. For an instrument category, a discrepancy is the difference between measured funds borrowed through the financial instrument and measured funds lent through that instrument. The size of such discrepancies relative to the main asset or liability components is one indication of the quality of source data, especially on an annual basis. For quarterly data, differences in seasonal adjustment procedures for financial and nonfinancial components of the accounts sometimes result in discrepancies that cancel in annual data. The Internet site also provides historical annual data beginning in 1945 that correspond to the tables published in this release. There are files for quarterly data for seasonally adjusted flows, unadjusted flows, outstandings, balance sheets, and debt (tables D.1, D.2, and D.3) available as a customizable download dataset through the Data Download Program (DDP) at the following location: www.federalreserve.gov/datadownload/Choose.aspx?rel=Z.1 A Guide to the Flow of Funds Accounts is available. The 1,200-page Guide, published in two volumes in January 2000, explains in detail how the U.S. financial accounts are prepared and the principles underlying the accounts. The Guide can be purchased for $20.00 from the Board’s Publications Services. Publications Services accepts orders accompanied by checks as well as credit card orders. The Internet site for this release at the location shown above contains a link to an order form for the Guide that can be mailed or faxed to Publications Services. In addition, the Internet site includes a link to the Guide’s descriptions of the tables in the flow of funds accounts. Subscription Information. The Federal Reserve Board charges for subscriptions to all statistical releases. Inquiries for releases should be directed to: Publications Services, Stop 127 Board of Governors of the Federal Reserve System 20th Street and Constitution Avenue, N.W. Washington, DC 20551 (202) 452-3244 3 [THIS PAGE INTENTIONALLY LEFT BLANK] 4 Availability of Data for Latest Quarter Available at time of publication U U Major items missing U U 1. National income and product accounts (NIPA) Second estimate, seasonally adjusted, for 2010:Q1. 2. Households and nonprofit organizations sector (tables F.100 and L.100) Estimates for this sector are largely residuals and are derived from data for other sectors. Availability of data depends on schedules for other sectors. Data for consumer credit, which are estimated directly, are available through 2010:Q1. The source for nonprofit organizations data (tables F.100.a and L.100.a) is the Internal Revenue Service Statistics of Income. Data for nonprofit organizations are available for 1987 through 2000. 3. Nonfarm nonfinancial corporate business (tables F.102 and L.102) Quarterly Financial Report (QFR) of the Census Bureau through 2009:Q4; Internal Revenue Service Statistics of Income (IRS/SOI) data through 2008; securities offerings, mortgages, bank loans, commercial paper, and other loans through 2010:Q1. Statistics of Income data since 2008. QFR data since 2009:Q4. 4. Nonfarm noncorporate business (tables F.103 and L.103) IRS/SOI data through 2007; bank and finance company loans and mortgage borrowing through 2010:Q1. Statistics of Income data since 2007. 5. Farm business (tables F.104 and L.104) Mortgages, bank loans, loans from government-sponsored enterprises, U.S. government loans to farms, and equity in government-sponsored enterprises through 2010:Q1; preliminary data for checkable deposits and currency and trade payables through 2008. Gross offerings and retirements of municipal securities, deposits at banks, and nonmarketable U.S. government security issues through 2010:Q1; total financial assets through 2007:Q2 from the Census Bureau; breakdown of financial assets through 2004:Q2 from the comprehensive annual financial reports of state and local governments. Consumption of fixed capital and undistributed profits since 2008. Data from the Monthly Treasury Statement of Receipts and Outlays and Treasury data for loan programs and the Troubled Assets Relief Program (TARP) through 2010:Q1. None. 6. State and local governments (tables F.105 and L.105) 7. Federal government (tables F.106 and L.106) Unadjusted flows since 2007 for the government sectors. Unadjusted flows since 2006 for all other sectors. Total financial assets since 2007:Q2 and selected financial asset detail since 2004:Q2. 5 8. Rest of the world (U.S. international transactions) (tables F.107 and L.107) Balance of payments data through 2009:Q4. NIPA estimates; data from bank Reports of Condition and from Treasury International Capital System through 2010:Q1. Balance of payments data for 2010:Q1. 9. Monetary authority (tables F.108 and L.108) All data through 2010:Q1. None. 10. Commercial banking (tables F.109 through F.113 and tables L.109 through L.113) All data through 2010:Q1 for U.S.-chartered commercial banks, foreign banking offices in the U.S., bank holding companies, and commercial banks in U.S.-affiliated areas. Data since 2008 for branches of domestic commercial banks located in U.S.-affiliated areas. 11. Savings institutions (tables F.114 and L.114) All data through 2010:Q1. None. 12. Credit unions (tables F.115 and L.115) All data through 2010:Q1. None. 13. Property-casualty insurance companies (tables F.116 and L.116) All data through 2009:Q4. Preliminary data for 2010:Q1. Final data for 2010:Q1. 14. Life insurance companies (tables F.117 and L.117) All data through 2009:Q4. Preliminary data for 2010:Q1. Final data for 2010:Q1. 15. Private pension funds (tables F.118 and L.118) Quarterly data through 2009:Q4; Internal Revenue Service/Department of Labor/Pension Benefit Guaranty Corporation Form 5500 data through 2007. Form 5500 data since 2007. Quarterly data since 2009:Q4. 16. State and local government employee retirement funds (tables F.119 and L.119) Detailed data through 2008:Q2 from the Census Bureau; sample data through 2010:Q1 from the Census Bureau. Data from the Monthly Treasury Statement of Receipts and Outlays, the Thrift Savings Plan, and the National Railroad Retirement Investment Trust through 2010:Q1. All data through 2010:Q1. Detailed data since 2008:Q2. None. 19. Mutual funds (tables F.122 and L.122) All data through 2010:Q1. None. 20. Closed-end funds (tables F.123 and L.123) All data through 2010:Q1. None. 21. Exchange-traded funds (tables F.123 and L.123) All data through 2010:Q1. None. 17. Federal government retirement funds (tables F.120 and L.120) 18. Money market mutual funds (tables F.121 and L.121) None. 6 22. Government-sponsored enterprises (tables F.124 and L.124) Data for Fannie Mae, Freddie Mac, FHLBs, Farmer Mac, FICO, FCS, and REFCORP through 2010:Q1. None. 23. Agency- and GSE-backed mortgage pools (tables F.125 and L.125) Data for Fannie Mae, Freddie Mac, and Ginnie Mae through 2010:Q1. None. 24. Issuers of asset-backed securities (ABSs) (tables F.126 and L.126) All data for private mortgage pools, consumer credit, business loans, student loans, consumer leases, and trade credit securitization through 2010:Q1. None. 25. Finance companies (tables F.127 and L.127) All data through 2010:Q1. None. 26. Real estate investment trusts (REITs) (tables F.128 and L.128) Data from SNL Financial through 2010:Q1. None. 27. Security brokers and dealers (tables F.129 and L.129) Data for firms filing FOCUS and FOGS reports through 2010:Q1. 28. Funding corporations (tables F.130 and L.130) Estimates for this sector are largely residuals and are derived from data for other sectors. None. Z.1, June 10, 2010 7 D.1 Debt Growth by Sector 1 In percent; quarterly figures are seasonally adjusted annual rates Domestic nonfinancial sectors Total Total Households Home mortgage Business Consumer credit Total Corporate State and local governments Federal government Domestic financial sectors Foreign 1975 1976 1977 1978 1979 9.3 10.8 12.8 13.8 12.2 8.4 11.3 15.6 16.9 15.4 9.5 12.6 16.6 17.5 16.4 3.8 10.6 15.5 17.5 13.9 4.8 8.6 12.5 13.1 13.4 3.3 7.6 12.0 11.5 10.9 5.4 8.4 8.4 15.4 9.0 23.9 15.6 11.0 9.2 5.8 0.8 9.0 18.9 22.1 22.1 17.4 21.2 11.7 18.7 9.6 1980 1981 1982 1983 1984 9.5 10.4 10.4 12.0 14.8 8.5 7.6 5.6 11.1 12.6 10.9 7.2 4.8 10.2 11.4 1.0 5.5 5.0 12.1 18.4 10.0 12.9 9.9 9.1 16.2 8.3 13.6 10.3 8.1 16.7 6.9 8.0 11.2 11.4 11.4 11.8 11.6 19.7 18.9 16.9 14.5 18.2 13.6 13.4 17.9 14.3 12.2 7.5 8.3 3.7 1985 1986 1987 1988 1989 15.6 11.9 9.1 9.0 7.2 16.1 11.5 10.4 9.9 9.3 14.6 13.7 13.4 11.8 10.9 15.9 9.1 4.8 6.7 6.3 11.0 11.4 7.8 9.8 6.1 12.7 13.8 9.0 10.9 7.2 31.8 10.9 12.0 6.0 5.3 16.5 13.6 8.0 8.0 7.0 19.4 26.2 18.2 13.2 10.5 0.5 4.0 2.5 2.9 3.8 1990 1991 1992 1993 1994 6.5 4.3 4.5 4.7 4.6 7.0 5.2 5.3 6.0 7.6 8.9 7.0 6.5 5.5 5.6 1.9 -1.1 1.1 7.4 15.2 3.5 -2.3 -0.3 0.2 3.9 5.6 -2.1 0.9 1.2 5.0 5.0 9.2 1.5 5.3 -3.9 11.0 11.1 10.9 8.3 4.7 8.8 6.0 8.6 9.6 13.9 8.3 4.8 6.9 18.7 -2.4 1995 1996 1997 1998 1999 5.2 5.4 5.6 6.6 6.4 6.8 6.9 5.8 7.8 8.4 4.9 6.2 6.1 8.1 9.4 14.4 9.0 5.5 7.2 7.8 7.4 6.6 9.9 11.7 10.7 8.8 6.8 10.6 11.0 9.9 -5.5 -2.0 4.9 6.2 3.3 4.1 4.0 0.6 -1.4 -1.9 11.6 12.1 12.1 19.4 16.2 17.7 15.5 10.6 5.1 2.4 2000 2001 2002 2003 2004 5.0 6.3 7.4 8.1 8.8 9.1 9.6 10.8 11.8 11.0 8.7 10.6 13.3 14.6 13.4 11.4 8.6 5.6 5.3 5.6 9.3 5.7 2.8 2.3 6.2 8.5 4.5 0.7 1.8 4.0 1.4 8.8 11.1 8.3 7.3 -8.0 -0.2 7.6 10.9 9.0 11.0 10.7 9.7 10.7 8.9 8.4 -1.4 10.8 4.0 12.4 2005 2006 2007 2008 2009 9.5 9.0 8.7 6.0 3.1 11.1 10.1 6.7 0.3 -1.7 13.3 11.2 6.8 -0.4 -1.5 4.5 4.1 5.8 1.5 -4.4 8.7 10.6 13.1 5.4 -2.5 6.3 8.6 12.7 5.7 0.0 10.2 8.3 9.5 2.1 4.8 7.0 3.9 4.9 24.2 22.7 9.3 10.0 12.5 5.6 -10.8 7.9 22.0 9.0 -6.1 10.7 2004 -- Q1 Q2 Q3 Q4 8.1 8.8 7.8 9.6 9.4 11.7 9.2 12.2 10.7 14.6 11.6 14.2 6.4 3.5 6.1 5.9 5.9 4.3 6.1 8.2 3.3 1.2 3.9 7.2 9.7 4.0 8.4 6.2 8.5 12.0 7.0 7.3 7.1 9.6 7.8 9.9 11.9 0.9 10.0 25.0 2005 -- Q1 Q2 Q3 Q4 8.8 8.9 9.2 9.9 9.6 11.4 10.8 10.9 11.4 13.4 13.0 12.7 5.0 5.1 4.3 3.5 6.9 8.3 8.1 10.2 4.2 5.8 5.8 8.9 11.5 7.5 12.3 8.1 9.2 4.4 6.0 7.8 8.2 9.8 5.5 12.7 4.6 7.8 9.7 8.5 2006 -- Q1 Q2 Q3 Q4 9.8 9.1 7.3 8.7 11.5 11.3 8.5 7.7 13.7 12.8 9.2 7.3 2.9 4.1 4.4 4.9 10.4 10.0 7.8 12.5 8.3 7.9 4.8 12.2 5.2 7.1 8.4 11.5 6.6 2.6 3.1 3.1 10.8 11.7 7.2 8.9 13.8 12.4 37.0 18.7 2007 -- Q1 Q2 Q3 Q4 8.1 8.3 9.2 7.9 7.0 7.4 6.2 5.8 8.2 7.7 5.2 5.6 4.7 5.7 7.3 4.9 10.5 13.3 14.3 11.8 8.5 13.3 15.3 11.3 11.1 10.2 7.5 8.0 5.5 0.3 8.0 5.3 10.5 10.1 17.0 10.0 12.9 18.2 1.4 3.0 2008 -- Q1 Q2 Q3 Q4 5.7 3.3 8.3 6.1 3.3 0.1 -0.5 -1.8 2.8 -0.5 -2.4 -1.8 4.6 3.5 0.7 -2.7 8.0 6.7 5.6 1.1 7.4 7.2 6.7 1.0 3.8 1.3 3.4 0.0 8.1 5.9 39.2 37.0 5.5 5.8 7.2 3.3 15.3 4.7 -23.2 -20.4 2009 -- Q1 Q2 Q3 Q4 3.8 4.3 2.7 1.3 -1.2 -1.6 -2.5 -1.6 -0.1 -1.6 -3.4 -1.1 -3.9 -4.8 -3.1 -6.2 -0.7 -2.9 -3.0 -3.5 1.4 -0.6 0.2 -0.8 4.7 4.0 5.6 4.6 22.6 28.2 20.6 12.6 -11.4 -13.5 -10.2 -9.0 9.7 10.1 14.1 7.4 2010 -- Q1 3.5 -2.4 -3.8 -1.6 -0.0 4.1 4.3 18.5 -8.6 5.4 1. Data shown are on an end-of-period basis. 8 Z.1, June 10, 2010 D.2 Borrowing by Sector Billions of dollars; quarterly figures are seasonally adjusted annual rates Domestic nonfinancial sectors Total Total Households Home mortgage Business Consumer credit Total Corporate State and local governments Federal government Domestic financial sectors Foreign 1975 1976 1977 1978 1979 192.9 244.7 321.1 390.5 391.6 56.9 83.1 127.9 160.0 169.8 39.7 57.6 85.9 105.7 116.5 7.8 22.0 35.5 46.4 43.3 39.2 73.9 117.1 138.5 159.4 18.0 43.4 73.2 78.7 83.1 11.1 18.5 19.9 39.4 26.6 85.6 69.2 56.3 52.5 35.8 2.1 23.5 53.6 74.7 91.1 14.1 20.5 13.5 24.0 15.0 1980 1981 1982 1983 1984 342.9 409.7 451.8 572.9 791.7 108.3 106.4 83.9 175.6 219.0 90.2 67.0 47.4 105.1 127.3 3.4 19.8 18.8 48.2 81.7 135.0 190.1 164.8 164.8 323.0 70.2 123.4 105.4 90.1 204.9 22.2 27.6 41.7 47.3 52.5 77.4 85.5 161.3 185.2 197.2 73.2 105.1 93.0 104.4 157.8 24.2 23.5 16.0 17.3 8.4 1985 1986 1987 1988 1989 958.8 845.7 722.0 784.1 684.3 313.8 261.1 263.8 271.5 282.9 181.5 198.8 221.5 215.7 224.9 84.0 55.8 32.3 46.6 47.0 255.8 294.4 223.9 307.1 207.7 182.8 223.2 166.1 222.1 160.1 163.6 74.2 90.4 50.4 47.4 225.7 216.0 143.9 155.1 146.4 204.0 328.8 290.6 250.2 225.0 1.2 9.7 6.3 7.4 10.2 1990 1991 1992 1993 1994 655.5 469.8 511.9 560.1 575.9 232.7 185.2 200.7 237.5 321.8 200.1 174.6 173.1 156.3 166.5 15.1 -8.8 9.2 61.4 135.0 128.8 -84.8 -9.3 8.5 143.7 134.9 -53.1 23.0 29.4 128.2 47.1 91.2 16.5 57.9 -45.5 246.9 278.2 304.0 256.1 155.9 211.2 156.0 238.9 291.5 462.0 23.9 15.1 24.1 69.8 -11.2 1995 1996 1997 1998 1999 678.1 732.4 812.5 1005.5 1040.6 309.4 335.8 300.3 425.8 493.5 153.6 204.9 215.5 301.4 378.0 147.0 105.7 70.3 97.1 112.4 285.0 272.2 438.3 565.6 581.1 237.2 198.7 333.1 381.9 381.9 -60.8 -20.5 50.8 66.8 37.3 144.4 144.9 23.1 -52.6 -71.2 439.5 514.0 574.1 1026.8 1023.5 78.3 88.0 69.9 37.2 19.0 2000 2001 2002 2003 2004 864.6 1149.2 1418.6 1683.4 1984.0 581.4 672.0 825.0 1000.8 1049.7 383.3 507.1 704.5 874.8 926.0 176.5 150.6 105.2 105.9 117.2 562.2 377.3 191.5 166.0 458.3 362.7 209.2 33.6 87.1 197.4 16.9 105.5 144.6 120.5 114.1 -295.9 -5.6 257.6 396.0 361.9 807.3 872.0 886.6 1071.6 971.4 63.0 -11.2 93.4 43.0 155.3 2005 2006 2007 2008 2009 2327.0 2417.8 2524.7 1898.5 1029.4 1173.3 1186.6 872.6 35.9 -240.9 1039.0 990.7 673.5 -46.6 -162.6 100.4 95.4 139.3 38.8 -115.3 674.8 894.1 1224.0 576.1 -281.9 326.0 471.3 754.7 380.7 3.4 172.0 153.7 191.0 47.3 108.2 306.9 183.4 237.1 1239.2 1443.9 1114.9 1297.3 1789.6 901.6 -1839.6 113.0 332.6 170.3 -129.5 199.6 2004 -- Q1 Q2 Q3 Q4 1815.0 2018.1 1814.1 2289.0 888.9 1141.2 919.7 1249.2 739.4 1035.5 852.2 1076.9 134.1 75.4 130.5 128.8 431.8 319.1 458.8 623.6 164.6 61.5 197.7 365.5 152.3 65.0 136.8 102.2 342.0 492.8 298.8 314.1 773.4 1065.1 890.8 1156.1 149.0 11.3 128.8 331.9 2005 -- Q1 Q2 Q3 Q4 2148.2 2216.8 2346.8 2596.4 1015.1 1232.1 1200.2 1246.0 894.0 1081.5 1084.4 1096.1 110.3 114.2 97.0 80.2 537.1 659.0 658.8 844.5 217.7 302.2 305.3 478.7 193.8 130.1 217.4 146.6 402.2 195.6 270.5 359.2 976.6 1197.1 687.4 1598.4 66.2 112.8 144.4 128.7 2006 -- Q1 Q2 Q3 Q4 2636.1 2498.5 2060.8 2475.8 1350.5 1368.1 1055.3 972.5 1211.5 1179.0 867.6 704.8 66.3 95.3 102.8 117.3 878.6 872.4 694.6 1130.8 456.5 443.7 277.0 707.9 96.2 133.8 160.2 224.5 310.7 124.2 150.6 148.0 1401.6 1554.8 989.6 1243.1 209.7 194.1 597.0 329.6 2007 -- Q1 Q2 Q3 Q4 2378.1 2469.0 2806.6 2445.3 904.8 969.0 828.1 788.4 805.0 779.6 529.2 580.2 114.2 139.0 179.9 124.3 983.4 1275.5 1421.2 1216.1 506.6 808.6 964.5 739.0 222.1 210.0 159.5 172.6 267.8 14.5 397.8 268.2 1499.0 1501.1 2575.8 1582.4 243.3 349.9 28.5 59.6 2008 -- Q1 Q2 Q3 Q4 1794.8 1066.6 2703.1 2029.5 448.6 7.7 -66.1 -246.4 297.3 -49.8 -249.2 -184.6 117.9 90.8 17.4 -70.9 850.1 720.1 614.5 119.7 497.3 489.7 466.1 69.6 83.4 28.4 76.2 1.0 412.7 310.4 2078.5 2155.2 897.5 950.9 1206.1 551.8 325.3 103.8 -517.5 -429.8 2009 -- Q1 Q2 Q3 Q4 1291.7 1445.5 926.7 453.6 -170.5 -223.4 -349.1 -220.4 -8.7 -168.5 -359.6 -113.5 -102.3 -123.8 -79.5 -155.4 -83.2 -318.3 -336.7 -389.3 99.2 -43.6 15.0 -57.0 105.9 91.9 127.6 107.5 1439.6 1895.3 1484.9 955.8 -1941.8 -2293.0 -1679.0 -1444.4 181.2 192.4 275.2 149.6 2010 -- Q1 1214.2 -330.0 -389.8 -39.3 -2.5 288.7 100.7 1446.1 -1336.1 111.6 Z.1, June 10, 2010 9 D.3 Debt Outstanding by Sector 1 Billions of dollars; quarterly figures are seasonally adjusted Domestic nonfinancial sectors Households Home mortgage Business Consumer credit Corporate Federal government Domestic financial sectors Total Total 1975 1976 1977 1978 1979 2261.8 2505.3 2826.6 3211.2 3603.0 734.3 818.9 946.7 1105.4 1276.1 459.0 517.0 603.0 708.6 826.7 207.0 229.0 264.9 311.3 354.6 864.2 935.5 1054.3 1188.4 1347.0 571.3 612.1 687.1 761.4 843.8 219.4 237.8 256.2 295.6 322.2 443.9 513.1 569.4 621.9 657.7 260.4 283.9 337.8 412.5 504.9 96.9 115.7 128.6 155.7 168.5 1980 1981 1982 1983 1984 3953.5 4361.7 4783.4 5359.2 6146.2 1396.0 1507.2 1576.4 1732.0 1943.3 926.5 998.2 1031.1 1116.2 1242.8 358.0 377.9 396.7 444.9 526.6 1478.1 1662.0 1811.4 1999.1 2325.1 910.2 1027.3 1117.4 1230.4 1438.3 344.4 372.1 413.8 461.1 513.6 735.0 820.5 981.8 1167.0 1364.2 578.1 682.4 778.1 882.7 1052.4 193.4 214.0 208.1 224.1 232.8 1985 1986 1987 1988 1989 7123.1 7966.3 8670.1 9450.7 10152.1 2277.8 2537.3 2755.1 3043.6 3319.0 1449.6 1648.3 1827.9 2054.2 2259.5 610.6 666.4 698.6 745.2 809.3 2577.5 2871.0 3122.6 3409.2 3641.5 1617.8 1840.0 2033.8 2233.4 2409.4 677.9 752.1 842.6 893.0 940.4 1589.9 1805.9 1949.8 2104.9 2251.2 1257.3 1593.6 1895.5 2145.8 2399.3 242.5 251.9 259.0 269.8 287.9 1990 1991 1992 1993 1994 10834.9 11301.4 11816.5 12391.4 12973.6 3580.9 3769.7 3970.4 4210.3 4531.8 2488.8 2667.0 2840.0 2998.7 3165.3 824.4 815.6 824.8 886.2 1021.2 3768.5 3676.7 3670.6 3691.5 3842.0 2542.5 2487.2 2511.8 2553.6 2688.5 987.4 1078.6 1095.1 1153.0 1107.5 2498.1 2776.4 3080.3 3336.5 3492.3 2613.6 2769.6 3024.1 3321.0 3791.1 318.2 350.4 372.4 468.2 443.1 1995 1996 1997 1998 1999 13667.5 14399.8 15210.8 16216.4 17291.6 4841.2 5177.0 5477.6 5903.4 6396.0 3318.9 3523.8 3739.3 4040.6 4416.3 1168.2 1273.9 1344.2 1441.3 1553.6 4142.8 4415.0 4851.5 5417.1 6033.7 2941.5 3140.3 3471.6 3853.4 4270.9 1046.7 1026.2 1076.9 1143.8 1181.0 3636.7 3781.7 3804.8 3752.2 3681.0 4233.5 4747.5 5301.4 6328.2 7349.4 567.6 657.2 723.6 783.2 748.2 2000 2001 2002 2003 2004 18166.1 19298.3 20716.9 22444.5 24443.4 6987.3 7659.3 8484.3 9505.0 10569.6 4798.4 5305.4 6009.9 6894.4 7835.3 1741.3 1891.8 1997.0 2102.9 2220.1 6595.8 6956.1 7147.7 7338.0 7796.3 4633.6 4825.8 4859.4 4970.8 5168.1 1197.9 1303.4 1448.0 1568.5 1682.6 3385.1 3379.5 3637.0 4033.1 4395.0 8157.8 9155.9 10042.5 10949.3 11935.6 814.5 865.4 1072.8 1253.3 1438.8 2005 2006 2007 2008 2009 26770.4 29186.1 31717.4 33615.8 34654.8 11742.9 12929.5 13802.1 13843.0 13602.1 8874.3 9865.0 10538.5 10496.9 10334.4 2320.6 2416.0 2555.3 2594.1 2478.9 8471.1 9363.2 10593.7 11164.8 10892.5 5494.1 5963.3 6724.5 7100.2 7113.2 1854.5 2008.2 2199.3 2246.5 2354.7 4701.9 4885.3 5122.3 6361.5 7805.4 12996.0 14290.7 16207.5 17108.8 15609.7 1513.9 1882.6 2126.3 1864.4 2064.0 2004 -- Q1 Q2 Q3 Q4 22898.3 23402.8 23871.1 24443.4 9727.2 10012.5 10257.3 10569.6 7079.3 7338.2 7566.1 7835.3 2136.5 2155.3 2187.9 2220.1 7445.9 7525.7 7640.4 7796.3 5011.9 5027.3 5076.7 5168.1 1606.6 1622.8 1657.0 1682.6 4118.6 4241.8 4316.5 4395.0 11142.7 11409.0 11646.5 11935.6 1290.5 1293.4 1325.6 1438.8 2005 -- Q1 Q2 Q3 Q4 24980.4 25534.6 26121.3 26770.4 10823.3 11131.4 11431.4 11742.9 8058.8 8329.2 8600.3 8874.3 2247.7 2276.2 2300.5 2320.6 7930.6 8095.3 8260.0 8471.1 5222.5 5298.1 5374.4 5494.1 1731.0 1763.5 1817.9 1854.5 4495.5 4544.4 4612.1 4701.9 12179.7 12479.0 12577.4 12996.0 1455.3 1483.6 1519.6 1513.9 2006 -- Q1 Q2 Q3 Q4 27427.4 28052.0 28567.2 29186.1 12080.5 12422.5 12686.4 12929.5 9177.2 9471.9 9688.9 9865.0 2337.1 2361.0 2386.6 2416.0 8688.7 8906.8 9080.5 9363.2 5606.1 5717.1 5786.3 5963.3 1878.6 1912.0 1952.1 2008.2 4779.5 4810.6 4848.3 4885.3 13343.0 13732.5 13979.9 14290.7 1566.3 1614.8 1764.1 1882.6 2007 -- Q1 Q2 Q3 Q4 29787.2 30404.4 31106.1 31717.4 13155.7 13398.0 13605.0 13802.1 10066.3 10261.2 10393.5 10538.5 2444.5 2479.3 2524.2 2555.3 9615.5 9934.4 10289.7 10593.7 6096.5 6298.6 6539.7 6724.5 2063.7 2116.2 2156.1 2199.3 4952.2 4955.8 5055.3 5122.3 14792.7 15167.9 15811.9 16207.5 1924.0 2011.4 2018.6 2126.3 2008 -- Q1 Q2 Q3 Q4 32166.1 32432.7 33108.5 33615.8 13914.2 13916.1 13904.6 13843.0 10612.9 10600.4 10543.1 10496.9 2584.8 2607.5 2611.8 2594.1 10806.2 10986.2 11134.9 11164.8 6848.8 6971.3 7082.8 7100.2 2220.1 2227.2 2246.3 2246.5 5225.5 5303.1 5822.7 6361.5 16431.9 16669.6 16970.8 17108.8 2207.6 2233.6 2103.9 1864.4 2009 -- Q1 Q2 Q3 Q4 33948.4 34309.7 34541.4 34654.8 13800.3 13744.5 13657.2 13602.1 10494.8 10452.6 10362.7 10334.4 2568.5 2537.6 2517.7 2478.9 11153.6 11074.0 10989.9 10892.5 7134.6 7123.7 7127.5 7113.2 2273.0 2296.0 2327.9 2354.7 6721.4 7195.2 7566.5 7805.4 17005.2 16432.0 15978.0 15609.7 1909.7 1957.8 2026.6 2064.0 2010 -- Q1 35010.1 13542.2 10235.8 2469.0 10921.0 7213.4 2379.9 8166.9 14971.2 2092.5 1. Data shown are on an end-of-period basis. Total State and local governments Foreign 10 Z.1, June 10, 2010 F.1 Total Net Borrowing and Lending in Credit Markets (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 2 3 4 5 6 7 8 Total net borrowing Domestic nonfinancial sectors Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business State and local governments Federal government Q2 Q3 Q4 2010 Q1 3110.7 3554.9 4047.6 4484.6 2670.5 -610.6 -468.9 -655.1 -477.2 -841.3 -10.3 1 1984.0 2327.0 2417.8 2524.7 1898.5 1029.4 1291.7 1445.5 926.7 453.6 1214.2 2 1049.7 197.4 245.2 15.8 114.1 361.9 1173.3 326.0 331.6 17.3 172.0 306.9 1186.6 471.3 408.6 14.2 153.7 183.4 872.6 754.7 454.8 14.6 191.0 237.1 35.9 380.7 194.9 0.5 47.3 1239.2 -240.9 3.4 -290.7 5.4 108.2 1443.9 -170.5 99.2 -196.0 13.6 105.9 1439.6 -223.4 -43.6 -275.1 0.3 91.9 1895.3 -349.1 15.0 -348.1 -3.5 127.6 1484.9 -220.4 -57.0 -343.7 11.3 107.5 955.8 -330.0 288.7 -291.6 0.4 100.7 1446.1 3 4 5 6 7 8 9 Rest of the world 155.3 113.0 332.6 170.3 -129.5 199.6 181.2 192.4 275.2 149.6 111.6 9 10 Financial sectors 971.4 1114.9 1297.3 1789.6 901.6 -1839.6 -1941.8 -2293.0 -1679.0 -1444.4 -1336.1 10 11 12 13 14 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies 78.4 18.7 0.1 59.5 85.1 36.9 0.0 48.2 177.4 107.5 -0.3 70.2 263.2 131.8 0.0 131.3 161.1 79.1 -0.2 82.3 -199.9 -172.6 0.0 -27.3 -298.7 -307.7 0.0 9.1 -42.4 -59.4 0.0 17.0 -152.2 -231.0 0.0 78.8 -306.2 -92.1 0.0 -214.1 -301.5 -298.0 0.0 -3.5 11 12 13 14 15 16 Savings institutions Credit unions 91.4 2.3 22.5 3.3 -108.2 4.2 104.1 13.4 -67.1 8.3 -169.6 -14.1 -82.9 -41.2 -336.2 -7.2 -95.7 -0.8 -163.4 -7.2 8.9 -4.4 15 16 17 18 19 20 Life insurance companies Government-sponsored enterprises Agency- and GSE-backed mortgage pools ABS issuers 3.0 75.0 40.8 439.3 0.4 -84.0 164.5 729.4 2.7 35.6 292.6 807.8 14.5 282.4 623.3 335.9 26.2 271.7 497.0 -411.8 -6.6 -475.3 415.0 -716.5 -9.6 -254.5 302.6 -776.1 -8.0 -680.9 545.1 -704.7 -12.0 -590.3 482.7 -722.9 3.2 -375.7 329.5 -662.1 -10.8 -84.4 67.8 -527.1 17 18 19 20 21 22 23 24 Finance companies REITs Brokers and dealers Funding corporations 134.3 94.6 15.2 -2.9 33.5 55.4 0.1 104.7 34.8 15.5 6.4 28.3 34.9 10.2 -4.0 111.6 -79.4 -48.6 77.7 466.4 -156.2 -33.9 -49.7 -432.8 -168.3 -34.3 -160.4 -418.5 -168.9 -46.2 -1.0 -842.6 -142.5 -18.9 7.4 -433.7 -145.1 -36.2 -44.8 -36.4 -312.3 19.4 -2.8 -189.0 21 22 23 24 3110.7 3554.9 4047.6 4484.6 2670.5 -610.6 -468.9 -655.1 -477.2 -841.3 -10.3 25 311.4 427.2 221.1 497.4 -55.5 -112.4 153.3 -873.2 564.7 -294.5 -339.1 26 193.9 31.2 11.5 72.4 2.3 220.3 42.4 11.4 154.0 -0.9 108.1 -11.6 -0.1 118.5 6.1 518.4 -79.1 10.0 41.5 6.6 6.0 -27.9 6.3 -126.4 86.5 -411.1 -1.3 -7.9 -17.1 325.0 -126.8 -19.3 -6.3 -21.5 327.1 -1227.5 23.7 -7.9 -50.7 389.2 270.8 -57.5 -9.4 25.6 335.1 -560.8 48.0 -8.3 -21.7 248.4 -345.1 23.7 -8.5 -103.2 94.0 27 28 29 30 31 233.2 302.6 181.9 87.5 360.6 663.1 32 25 26 27 28 29 30 31 Total net lending Domestic nonfinancial sectors Household sector Nonfinancial corporate business Nonfarm noncorporate business State and local governments Federal government 32 Rest of the world 854.4 752.0 973.6 944.0 383.2 33 Financial sectors 1944.9 2375.7 2852.9 3043.3 2342.9 -731.4 -924.8 36.2 -1129.5 -907.4 -334.3 33 34 35 36 37 38 39 40 41 Monetary authority Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas Savings institutions Credit unions 51.2 610.3 573.5 23.0 -0.0 13.9 103.5 39.8 26.4 657.1 506.6 144.5 -4.2 10.2 199.4 36.2 34.7 765.4 660.0 103.7 3.3 -1.7 -78.0 30.1 -38.3 754.1 535.7 201.7 23.1 -6.4 63.0 35.3 245.4 643.8 531.1 100.7 13.9 -1.9 -276.1 40.0 1001.6 -432.2 -132.2 -281.0 -16.3 -2.8 -240.8 33.1 751.6 -504.0 -131.5 -285.8 -79.8 -6.8 -42.0 17.0 1196.1 -114.9 256.1 -388.0 16.0 1.0 -420.7 43.2 1224.2 -840.8 -696.2 -154.3 4.0 5.8 -193.1 32.6 834.5 -269.3 43.0 -295.9 -5.3 -11.1 -307.1 39.6 682.3 -604.3 -561.8 -39.4 14.3 -17.4 -13.1 34.2 34 35 36 37 38 39 40 41 42 43 44 45 46 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 86.0 165.2 1.1 17.8 4.7 72.8 116.2 45.3 18.1 7.7 44.8 67.5 58.4 114.6 8.4 5.3 84.8 102.5 12.3 11.7 -15.9 11.6 90.6 13.3 24.2 34.1 178.5 111.6 -15.4 7.4 8.9 252.1 146.0 -26.0 16.8 30.3 118.7 68.8 -12.8 1.0 39.8 180.3 130.3 -18.6 4.1 57.4 162.9 101.1 -4.3 7.9 11.8 116.4 117.5 -3.6 6.5 42 43 44 45 46 47 48 49 50 51 52 53 Money market mutual funds Mutual funds Closed-end funds Exchange-traded funds Government-sponsored enterprises Agency- and GSE-backed mortgage pools ABS issuers -124.9 116.6 11.0 3.8 48.9 40.8 429.8 -5.5 124.1 2.2 6.8 -69.1 164.5 732.9 220.0 184.9 6.0 5.7 46.6 292.6 799.8 375.6 271.1 -0.9 13.3 239.0 623.3 333.0 738.6 73.3 -39.7 23.0 239.1 497.0 -395.3 -643.7 380.7 10.3 46.0 -344.9 415.0 -681.6 -325.7 159.9 1.1 48.1 -164.6 302.6 -738.1 -480.0 469.1 17.5 45.9 -377.7 545.1 -670.4 -1025.7 412.7 13.6 44.0 -392.0 482.7 -683.0 -743.5 481.2 9.1 45.8 -445.2 329.5 -635.0 -715.4 481.5 9.4 41.2 -93.4 67.8 -500.3 47 48 49 50 51 52 53 54 55 56 57 Finance companies REITs Brokers and dealers Funding corporations 207.2 87.5 -29.2 74.1 64.7 41.0 82.3 52.7 71.0 26.1 106.2 48.2 16.6 -21.2 219.7 -57.1 -72.3 -63.9 -85.7 652.0 -223.3 1.7 -192.1 -177.3 -130.1 -1.4 -610.4 -86.6 -178.3 31.4 313.1 -589.3 -187.3 2.3 -401.4 45.6 -397.4 -25.7 -69.8 -79.1 -189.6 28.3 -6.6 195.0 54 55 56 57 (1) Excludes corporate equities and mutual fund shares. 11 Z.1, June 10, 2010 F.2 Credit Market Borrowing by Nonfinancial Sectors Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Domestic By instrument Commercial paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate bonds Bank loans n.e.c. Other loans and advances Mortgages Home Multifamily residential Commercial Farm Consumer credit By sector Household sector Nonfinancial business Corporate Nonfarm noncorporate Farm State and local governments Federal government 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1984.0 2327.0 2417.8 2524.7 1898.5 1029.4 1291.7 1445.5 926.7 453.6 1214.2 1 1984.0 15.3 362.5 -0.6 130.5 75.5 5.2 58.6 2327.0 -7.7 307.3 -0.4 195.0 56.7 134.5 119.3 2417.8 22.4 183.7 -0.3 177.4 215.6 175.3 159.8 2524.7 11.3 237.5 -0.4 215.6 311.2 240.2 311.0 1898.5 7.7 1239.0 0.2 57.1 204.6 192.6 75.3 1029.4 -72.4 1443.7 0.1 127.7 381.4 -295.7 -154.4 1291.7 -138.4 1442.8 -3.2 122.1 579.2 -353.1 -211.2 1445.5 -132.4 1896.4 -1.1 117.9 396.5 -297.3 -178.1 926.7 2.4 1481.2 3.7 157.8 270.0 -280.4 -129.9 453.6 -21.2 954.7 1.2 113.0 280.0 -252.0 -98.1 1214.2 54.6 1445.7 0.3 114.4 413.0 -179.0 -33.7 2 3 4 5 6 7 8 9 1219.8 1013.5 43.7 150.2 12.5 117.2 1422.0 1114.2 62.4 236.3 9.1 100.4 1388.4 1073.2 40.4 271.6 3.3 95.4 1059.0 710.3 84.5 259.6 4.6 139.3 83.2 -103.7 44.1 125.3 17.4 38.8 -286.0 -211.9 6.7 -89.2 8.4 -115.3 -44.2 -50.3 5.2 -7.3 8.3 -102.3 -232.6 -222.5 31.4 -49.8 8.3 -123.8 -498.6 -442.1 20.1 -85.1 8.4 -79.5 -368.6 -132.6 -29.8 -214.7 8.4 -155.4 -561.8 -452.4 11.0 -120.0 -0.4 -39.3 10 11 12 13 14 15 1984.0 1049.7 458.3 197.4 245.2 15.8 114.1 361.9 2327.0 1173.3 674.8 326.0 331.6 17.3 172.0 306.9 2417.8 1186.6 894.1 471.3 408.6 14.2 153.7 183.4 2524.7 872.6 1224.0 754.7 454.8 14.6 191.0 237.1 1898.5 35.9 576.1 380.7 194.9 0.5 47.3 1239.2 1029.4 -240.9 -281.9 3.4 -290.7 5.4 108.2 1443.9 1291.7 -170.5 -83.2 99.2 -196.0 13.6 105.9 1439.6 1445.5 -223.4 -318.3 -43.6 -275.1 0.3 91.9 1895.3 926.7 -349.1 -336.7 15.0 -348.1 -3.5 127.6 1484.9 453.6 -220.4 -389.3 -57.0 -343.7 11.3 107.5 955.8 1214.2 -330.0 -2.5 288.7 -291.6 0.4 100.7 1446.1 16 17 18 19 20 21 22 23 24 Foreign borrowing in U.S. 155.3 113.0 332.6 170.3 -129.5 199.6 181.2 192.4 275.2 149.6 111.6 24 25 26 27 28 Commercial paper Bonds Bank loans n.e.c. Other loans and advances 69.2 85.8 3.8 -3.6 38.6 64.5 14.5 -4.6 98.4 227.8 13.8 -7.4 -69.3 218.7 24.1 -3.2 -71.0 -62.1 5.1 -1.5 57.8 152.9 -11.2 0.0 64.6 137.5 -19.4 -1.5 -22.0 219.4 -6.0 0.9 201.9 83.0 -9.8 0.0 -13.3 171.8 -9.6 0.6 -27.1 139.6 -1.6 0.8 25 26 27 28 2139.3 2440.0 2750.4 2695.0 1768.9 1228.9 1472.9 1637.9 1201.8 603.1 1325.9 29 29 Domestic and foreign F.3 Credit Market Borrowing by Financial Sectors Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 6 7 8 9 By instrument Open market paper GSE issues Agency- and GSE-backed mortgage pool sec. Corporate bonds Bank loans n.e.c. Other loans and advances Mortgages By sector 971.4 1114.9 1297.3 1789.6 901.6 -1839.6 -1941.8 -2293.0 -1679.0 -1444.4 -1336.1 1 21.7 75.0 40.8 668.3 66.0 74.1 25.5 214.2 -84.0 164.5 743.0 18.8 44.4 14.1 196.3 35.6 292.6 807.3 -62.3 21.2 6.6 -111.4 282.4 623.3 694.0 70.9 225.8 4.7 -125.6 271.7 497.0 -277.7 496.1 33.3 6.8 -446.7 -475.3 415.0 -585.9 -467.4 -282.6 3.4 -573.7 -254.5 302.6 -589.7 -484.1 -348.0 5.6 -565.8 -680.9 545.1 -595.8 -627.9 -377.2 9.5 -430.5 -590.3 482.7 -376.6 -511.4 -251.5 -1.4 -217.0 -375.7 329.5 -781.4 -246.2 -153.6 -0.1 -181.3 -84.4 67.8 -907.5 -92.1 -140.8 2.2 2 3 4 5 6 7 8 971.4 1114.9 1297.3 1789.6 901.6 -1839.6 -1941.8 -2293.0 -1679.0 -1444.4 -1336.1 9 10 11 12 13 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies 78.4 18.7 0.1 59.5 85.1 36.9 0.0 48.2 177.4 107.5 -0.3 70.2 263.2 131.8 0.0 131.3 161.1 79.1 -0.2 82.3 -199.9 -172.6 0.0 -27.3 -298.7 -307.7 0.0 9.1 -42.4 -59.4 0.0 17.0 -152.2 -231.0 0.0 78.8 -306.2 -92.1 0.0 -214.1 -301.5 -298.0 0.0 -3.5 10 11 12 13 14 15 Savings institutions Credit unions 91.4 2.3 22.5 3.3 -108.2 4.2 104.1 13.4 -67.1 8.3 -169.6 -14.1 -82.9 -41.2 -336.2 -7.2 -95.7 -0.8 -163.4 -7.2 8.9 -4.4 14 15 16 17 18 19 Life insurance companies Government-sponsored enterprises Agency- and GSE-backed mortgage pools ABS issuers 3.0 75.0 40.8 439.3 0.4 -84.0 164.5 729.4 2.7 35.6 292.6 807.8 14.5 282.4 623.3 335.9 26.2 271.7 497.0 -411.8 -6.6 -475.3 415.0 -716.5 -9.6 -254.5 302.6 -776.1 -8.0 -680.9 545.1 -704.7 -12.0 -590.3 482.7 -722.9 3.2 -375.7 329.5 -662.1 -10.8 -84.4 67.8 -527.1 16 17 18 19 20 21 22 23 Finance companies REITs Brokers and dealers Funding corporations 134.3 94.6 15.2 -2.9 33.5 55.4 0.1 104.7 34.8 15.5 6.4 28.3 34.9 10.2 -4.0 111.6 -79.4 -48.6 77.7 466.4 -156.2 -33.9 -49.7 -432.8 -168.3 -34.3 -160.4 -418.5 -168.9 -46.2 -1.0 -842.6 -142.5 -18.9 7.4 -433.7 -145.1 -36.2 -44.8 -36.4 -312.3 19.4 -2.8 -189.0 20 21 22 23 12 Z.1, June 10, 2010 F.4 Credit Market Borrowing, All Sectors, by Instrument Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 2 3 4 5 6 7 8 9 10 Total Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Bank loans n.e.c. Other loans and advances Mortgages Consumer credit Q2 Q3 Q4 2010 Q1 3110.7 3554.9 4047.6 4484.6 2670.5 -610.6 -468.9 -655.1 -477.2 -841.3 -10.3 1 106.2 362.5 115.2 130.5 829.5 245.1 307.3 80.0 195.0 864.2 317.1 183.7 327.9 177.4 1250.6 -169.4 237.5 905.3 215.6 1223.9 -189.0 1239.0 768.9 57.1 -135.2 -461.3 1443.7 -60.2 127.7 -51.5 -647.5 1442.8 44.9 122.1 127.0 -720.1 1896.4 -136.9 117.9 20.2 -226.2 1481.2 -103.9 157.8 -23.5 -251.4 954.7 -45.0 113.0 -329.6 -153.9 1445.7 -16.2 114.4 -354.9 2 3 4 5 6 75.1 129.2 1245.3 117.2 167.8 159.1 1436.1 100.4 126.8 173.6 1395.0 95.4 335.1 533.6 1063.7 139.3 693.8 107.1 89.9 38.8 -774.3 -436.9 -282.6 -115.3 -856.6 -560.8 -38.6 -102.3 -931.1 -554.4 -223.1 -123.8 -801.6 -381.4 -500.0 -79.5 -507.7 -251.1 -368.8 -155.4 -272.8 -173.7 -559.6 -39.3 7 8 9 10 378.8 183.6 -31.9 -95.5 339.8 812.6 330.1 1269.4 982.3 668.8 403.3 11 80.5 -122.7 -76.6 -341.8 -368.7 -565.7 -460.2 -786.8 308.8 -336.0 320.9 -63.3 424.8 -133.1 494.8 126.4 306.3 65.7 57.5 -312.2 -134.2 -207.6 12 13 84.8 118.5 298.2 186.7 78.5 260.2 137.3 59.7 336.8 147.8 178.9 364.7 1.3 643.5 31.0 68.6 315.5 491.8 7.3 550.6 -94.7 150.9 217.5 774.5 104.8 135.8 675.9 11.4 358.3 611.4 36.1 37.3 537.5 14 15 16 Memo: Funds raised through corporate equities and mutual fund shares 11 12 13 14 15 16 Total net issues Corporate equities Nonfinancial Foreign shares purchased by U.S. residents Financial Mutual fund shares F.5 Net Increase in Liabilities and Its Relation to Net Acquisition of Financial Assets Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 Net flows through credit markets (from table F.4, line 1) Official foreign exchange SDR certificates Treasury currency Foreign deposits 3110.7 3554.9 4047.6 4484.6 2670.5 -610.6 -468.9 -655.1 -477.2 -841.3 -10.3 1 -3.2 0.0 0.7 89.9 -9.6 0.0 0.8 40.8 -2.6 0.0 0.6 87.2 -0.0 0.0 -0.7 264.1 4.7 0.0 -0.8 -352.9 4.0 3.0 -0.4 -202.4 3.9 0.0 -0.0 -273.4 14.5 0.0 -0.0 -313.5 5.2 12.0 -1.0 -119.4 -7.5 0.0 -0.4 -103.3 0.3 0.0 0.0 -78.8 2 3 4 5 19.4 85.4 281.6 252.9 -136.5 -12.4 4.4 314.4 284.4 127.0 -11.3 -19.9 347.0 261.2 305.3 -97.5 36.7 316.4 283.4 720.9 1812.3 568.4 524.8 -190.6 724.2 -648.3 -7.9 517.2 -141.8 -498.7 -1067.6 -474.4 497.0 -92.3 100.3 -2074.1 406.9 233.0 -41.3 -497.9 689.3 37.4 795.2 -555.8 -961.7 -140.8 -1.5 543.6 122.2 -635.3 -72.0 -47.5 341.3 -364.3 -1129.2 6 7 8 9 10 6 7 8 9 10 Net interbank transactions Checkable deposits and currency Small time and savings deposits Large time deposits Money market fund shares 11 12 13 14 Security RPs Corporate equities Mutual fund shares Trade payables 83.1 80.5 298.2 194.7 316.0 -76.6 260.2 340.8 403.4 -368.7 336.8 189.1 8.6 -460.2 364.7 202.2 -895.4 308.8 31.0 -67.6 228.8 320.9 491.8 88.8 -790.5 424.8 -94.7 -144.4 916.9 494.8 774.5 7.7 150.7 306.3 675.9 349.7 638.0 57.5 611.4 142.3 129.2 -134.2 537.5 118.7 11 12 13 14 15 16 17 18 Security credit Life insurance reserves Pension fund reserves Taxes payable 179.4 33.1 303.8 20.5 0.2 16.1 235.3 -4.7 211.5 65.6 209.1 22.5 276.5 34.2 150.6 -69.3 -397.9 67.0 108.2 -127.9 -95.9 27.8 81.0 36.6 -495.5 66.4 -17.1 -37.3 -53.2 8.0 13.5 39.9 45.1 0.8 121.7 113.1 120.2 36.1 205.8 30.8 17.5 14.7 35.2 -39.5 15 16 17 18 19 20 Noncorporate proprietors’ equity Miscellaneous 60.4 1561.4 -86.3 1264.5 -12.6 1855.6 -45.1 2541.8 -9.2 2268.5 -2.5 99.1 22.3 266.5 -36.1 -530.4 -3.8 628.0 7.6 32.3 37.6 1116.9 19 20 21 Total financial sources 6516.0 6570.4 7927.5 9012.0 7046.0 -309.4 -2575.0 -1291.8 1811.5 817.6 473.3 21 22 23 24 25 26 27 - Liabilities not identified as assets: Treasury currency Foreign deposits Net interbank liabilities Security RPs Taxes payable Miscellaneous -0.3 61.9 14.9 -133.2 -13.2 -82.3 0.7 12.3 -3.6 103.6 -45.6 -87.0 -1.1 106.8 -1.9 197.5 17.3 -624.8 -1.2 204.2 1.8 -343.5 -40.9 21.7 -0.8 -308.7 30.6 -298.4 -38.3 1028.2 -4.4 -182.0 34.4 341.7 -31.3 494.5 -14.4 -64.6 49.8 -876.8 -43.0 1911.2 -0.7 -413.5 137.1 1466.7 -71.9 -650.9 -1.5 -156.2 -96.8 -47.8 43.1 821.0 -0.9 -93.8 47.7 824.6 -53.4 -103.3 -0.2 -53.8 -59.9 -140.7 -99.2 1188.3 22 23 24 25 26 27 28 29 30 - Floats not included in assets: Checkable deposits: Federal govt. Other Trade credit 27.9 -9.7 11.3 -6.6 1.7 -30.4 -3.0 -0.0 145.9 1.2 -0.1 -49.4 -3.3 -2.0 31.0 0.7 -1.0 132.9 19.5 -1.4 141.7 5.0 0.7 140.8 -10.0 -4.2 106.9 -11.6 0.7 142.3 20.2 -5.9 32.9 28 29 30 31 Totals identified to sectors as assets 6638.6 6625.3 8090.6 9218.2 6607.7 -1095.0 -3697.1 -1905.2 1157.1 65.3 -408.4 31 13 Z.1, June 10, 2010 F.6 Distribution of Gross Domestic Product (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2 3 4 5 6 7 Gross Domestic Product (GDP) Personal consumption expenditures (2) Durable goods Nondurable goods Services Gross private domestic investment Fixed investment 8 9 10 11 12 13 Nonresidential Household sector (nonprofit organizations) Nonfinancial corporate business Nonfarm noncorporate business Farm business Financial institutions 14 15 16 17 18 Residential Household sector Nonfinancial corporate business Nonfarm noncorporate business REITs 19 20 21 22 Change in private inventories Nonfinancial corporate business Nonfarm noncorporate business Farm business 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 11867.8 12638.4 13398.9 14077.6 14441.4 14256.3 14178.0 14151.2 14242.1 14453.8 14601.4 1 8285.1 8819.0 9322.7 9826.4 10129.9 10089.1 9987.7 9999.3 10132.9 10236.4 10362.3 2 1061.6 1830.7 5392.8 1105.5 1968.4 5745.1 1133.0 2088.7 6100.9 1160.5 2204.5 6461.4 1095.2 2308.0 6726.8 1035.0 2220.2 6833.9 1025.2 2172.4 6790.0 1011.5 2182.2 6805.6 1051.3 2241.0 6840.6 1052.0 2285.1 6899.3 1072.8 2333.8 6955.8 3 4 5 1968.6 2172.2 2327.2 2288.5 2136.1 1628.8 1689.9 1561.5 1556.1 1707.8 1763.8 6 1903.6 2122.3 2267.2 2269.1 2170.8 1749.7 1817.2 1737.7 1712.6 1731.4 1726.9 7 1223.0 90.8 834.1 109.4 33.6 155.1 1347.3 93.0 943.4 119.5 36.2 155.3 1505.3 99.3 1074.1 134.1 35.1 162.7 1640.2 106.7 1158.2 149.5 36.8 189.0 1693.6 111.5 1201.7 155.6 39.1 185.8 1388.8 101.9 991.3 111.0 33.3 151.3 1442.6 104.1 1029.7 122.3 33.8 152.8 1391.8 102.8 993.7 109.9 33.0 152.4 1353.9 101.2 966.7 103.8 32.7 149.5 1366.9 99.4 975.1 108.1 33.6 150.7 1371.3 99.7 977.8 112.3 34.2 147.4 8 9 10 11 12 13 680.6 594.4 0.7 80.0 5.5 774.9 681.9 4.1 86.4 2.5 761.9 670.1 3.2 85.0 3.5 629.0 541.9 15.7 80.7 -9.3 477.2 401.1 5.6 70.5 0.1 361.0 301.4 3.7 55.9 -0.1 374.6 313.0 2.9 57.7 1.1 345.9 288.7 3.9 53.9 -0.6 358.8 299.6 4.5 55.5 -0.9 364.5 304.4 3.7 56.3 0.0 355.5 296.2 -2.5 55.6 6.2 14 15 16 17 18 64.9 53.3 2.8 8.8 50.0 47.3 2.5 0.1 60.0 60.4 3.2 -3.6 19.4 19.0 1.0 -0.6 -34.8 -26.3 -1.4 -7.1 -120.9 -112.6 -5.9 -2.4 -127.4 -119.8 -6.3 -1.3 -176.2 -168.0 -8.8 0.6 -156.5 -148.7 -7.8 -0.0 -23.6 -14.0 -0.7 -8.9 36.9 40.2 2.1 -5.4 19 20 21 22 23 Net U.S. exports of goods and services -618.7 -722.7 -769.3 -713.8 -707.8 -392.4 -378.5 -339.1 -402.2 -449.5 -499.4 23 24 25 Exports - Imports 1180.2 1798.9 1305.1 2027.8 1471.0 2240.3 1655.9 2369.7 1831.1 2538.9 1564.2 1956.6 1509.3 1887.9 1493.7 1832.8 1573.8 1976.0 1680.1 2129.7 1729.3 2228.7 24 25 26 Government consumption expenditures and gross investment 2232.8 2369.9 2518.4 2676.5 2883.2 2930.7 2879.0 2929.4 2955.4 2959.2 2974.7 26 1860.4 721.4 1139.1 1977.9 765.8 1212.0 2093.3 811.0 1282.3 2214.9 848.8 1366.1 2386.9 934.4 1452.4 2416.9 986.4 1430.5 2378.6 954.2 1424.4 2409.0 979.1 1429.9 2431.0 1001.2 1429.8 2449.1 1011.0 1438.1 2477.8 1026.6 1451.2 27 28 29 372.4 103.3 269.1 392.0 110.5 281.6 425.1 120.7 304.4 461.6 127.9 333.7 496.3 148.2 348.2 513.8 158.4 355.4 500.4 152.4 347.9 520.4 159.2 361.3 524.3 163.1 361.3 510.0 159.1 350.9 496.8 159.7 337.1 30 31 32 91.2 448.6 357.4 97.1 573.0 475.9 72.4 721.1 648.6 115.7 861.8 746.0 141.9 809.2 667.3 104.9 589.4 484.5 99.9 579.6 479.7 92.6 571.3 478.6 121.5 590.6 469.1 105.7 616.2 510.5 136.9 643.9 507.0 33 34 35 11959.0 12735.5 13471.3 14193.3 14583.3 14361.2 14277.9 14243.8 14363.7 14559.5 14738.3 36 -9.7 11.4 0.0 -1.7 -8.1 10.3 -0.5 -1.7 4.4 11.1 -13.3 -2.2 -10.1 13.1 -1.3 -1.8 8.9 12.9 -19.2 -2.7 -3.7 13.4 -7.0 -2.6 16.6 13.1 -26.9 -2.8 -7.9 13.2 -2.6 -2.7 -12.7 13.5 1.8 -2.6 -10.8 13.7 -0.4 -2.5 -11.3 14.0 -0.2 -2.6 37 38 39 40 27 28 29 Consumption expenditures (3) Federal State and local 30 31 32 Gross investment (3) Federal State and local Memo: 33 34 35 Net U.S. income receipts from rest of the world U.S. income receipts - U.S. income payments 36 Gross National Product (GNP) = GDP + net U.S. income receipts 37 38 39 40 Acquisition of nonproduced nonfinancial assets (net) Nonfinancial corporate business State and local governments Federal governments Rest of the world (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. 14 Z.1, June 10, 2010 F.7 Distribution of National Income (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2 3 4 5 National Income Compensation of employees Wages and other labor income Employer social insurance contributions Wage accruals less disbursements 9 Proprietors’ income with inventory valuation and capital consumption adjustments Nonfarm Farm Rental income of persons (with capital consumption adjustment) 10 Corporate profits with inventory valuation and capital consumption adjustments 6 7 8 11 Corporate profits with inventory valuation adjustment 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 10534.1 11273.8 12031.2 12448.2 12635.2 12280.0 12208.9 12218.1 12259.7 12433.2 12602.3 1 6693.4 6300.3 408.1 -15.0 7065.0 6632.6 427.5 5.0 7477.0 7029.0 446.7 1.3 7856.5 7401.9 460.8 -6.3 8037.4 7569.8 472.7 -5.0 7783.5 7320.5 458.0 5.0 7825.8 7345.6 460.2 20.0 7815.9 7355.2 460.8 0.0 7751.5 7295.3 456.2 0.0 7740.6 7285.8 454.8 0.0 7809.3 7341.1 468.2 0.0 2 3 4 5 1033.8 984.1 49.7 1069.8 1025.9 43.9 1133.0 1103.6 29.3 1096.3 1056.9 39.4 1106.3 1057.5 48.7 1041.0 1011.7 29.3 1037.8 1010.5 27.3 1028.0 999.1 28.9 1037.9 1012.0 25.8 1060.3 1025.1 35.2 1066.3 1035.3 31.0 6 7 8 198.4 178.2 146.5 144.9 210.4 268.1 245.9 262.0 277.9 286.7 293.7 9 1246.9 1456.1 1608.3 1541.7 1360.4 1308.9 1182.7 1226.5 1358.9 1467.6 1549.0 10 1195.1 1609.5 1784.7 1730.4 1424.5 1436.7 1327.6 1355.1 1477.8 1586.3 1775.0 11 1229.4 659.9 2.1 205.0 362.3 1640.2 954.1 3.0 239.4 443.6 1822.7 1115.1 2.8 256.8 448.0 1774.4 1056.4 2.4 347.8 367.8 1462.7 805.0 1.7 377.2 278.9 1427.6 783.4 1.2 311.8 331.2 1246.5 675.1 1.8 315.8 253.9 1337.1 753.9 1.3 301.2 280.7 1495.0 808.5 0.8 323.2 362.4 1632.0 896.2 0.8 307.1 427.9 1812.9 1029.3 0.4 336.6 446.6 12 13 14 15 16 12 13 14 15 16 Profits before tax Domestic nonfinancial Farm Rest of the world Domestic financial 17 18 19 20 Less: Taxes on corporate income Domestic nonfinancial Farm Domestic financial 306.1 186.2 0.8 119.1 412.4 271.0 0.9 140.5 473.3 306.9 0.7 165.6 451.5 298.6 0.7 152.2 292.2 237.2 0.6 54.4 314.8 221.4 0.6 92.8 270.3 197.4 0.6 72.4 305.9 216.4 0.6 89.0 321.0 226.4 0.7 94.0 361.9 245.5 0.7 115.6 419.6 292.9 0.9 125.9 17 18 19 20 21 22 23 24 25 26 Equals: Profits after tax Net dividends Domestic nonfinancial Farm Rest of the world Domestic financial 923.3 550.3 361.7 2.8 62.3 123.5 1227.8 557.3 168.0 2.9 260.9 125.6 1349.5 704.8 465.8 5.3 77.9 155.7 1322.8 767.8 462.2 3.0 126.2 176.4 1170.6 689.9 406.8 2.5 146.6 134.0 1112.8 575.8 358.9 2.1 116.9 97.9 976.1 618.1 370.9 2.2 102.8 142.2 1031.1 556.0 360.7 2.0 100.5 92.8 1173.9 549.9 330.7 2.0 152.9 64.3 1270.1 579.0 373.2 2.1 111.4 92.2 1393.3 552.8 370.7 2.0 81.4 98.7 21 22 23 24 25 26 27 28 29 30 31 Undistributed profits Domestic nonfinancial Farm Rest of the world Domestic financial 373.0 112.0 -1.4 142.7 119.7 670.5 515.1 -0.7 -21.4 177.4 644.7 342.3 -3.2 178.9 126.6 555.1 295.6 -1.3 221.6 39.2 480.7 160.9 -1.4 230.6 90.6 537.1 203.1 -1.6 194.9 140.6 358.0 106.8 -1.0 212.9 39.3 475.1 176.9 -1.4 200.7 98.9 624.1 251.5 -1.8 170.3 204.1 691.1 277.4 -2.0 195.7 220.0 840.5 365.7 -2.4 255.2 222.0 27 28 29 30 31 32 Inventory valuation adjustment -34.3 -30.7 -38.0 -44.0 -38.2 9.1 81.1 18.1 -17.1 -45.6 -37.9 32 33 34 35 36 Capital consumption adjustment Domestic nonfinancial Farm Domestic financial 51.8 49.7 0.0 2.0 -153.4 -128.8 -0.0 -24.6 -176.4 -156.0 0.0 -20.4 -188.7 -167.9 0.0 -20.8 -64.1 -56.8 0.0 -7.3 -127.8 -113.4 0.0 -14.4 -144.9 -128.7 0.0 -16.1 -128.6 -114.2 0.0 -14.4 -118.9 -105.7 0.0 -13.3 -118.8 -105.0 0.0 -13.8 -226.0 -200.9 0.0 -25.1 33 34 35 36 37 Net interest and miscellaneous payments 461.6 543.1 652.2 739.2 815.1 788.2 826.2 784.4 759.7 782.6 777.5 37 38 39 40 41 Taxes on production and imports Less: Subsidies Business current transfer payments (net) Current surplus of government enterprises 863.4 46.4 81.7 1.2 930.2 60.9 95.9 -3.5 986.8 51.4 83.0 -4.2 1028.7 54.8 102.2 -6.6 1047.3 53.5 118.8 -6.9 1023.9 59.6 134.1 -8.1 1018.8 55.5 137.9 -10.7 1019.6 54.9 145.4 -8.8 1023.1 67.7 124.8 -6.3 1034.1 60.3 128.2 -6.5 1044.8 60.5 127.7 -5.4 38 39 40 41 10534.1 11273.8 12031.2 12448.2 12635.2 12280.0 12208.9 12218.1 12259.7 12433.2 12602.3 42 1200.9 231.9 -7.9 1290.8 250.6 -79.7 1391.4 269.3 -220.6 1469.6 290.4 -14.8 1536.2 310.9 101.0 1538.8 325.2 217.3 1561.3 322.3 185.4 1540.5 323.5 161.7 1525.5 325.2 253.3 1527.7 330.0 268.7 1525.3 334.1 276.6 43 44 45 91.2 97.1 72.4 115.7 141.9 104.9 99.9 92.6 121.5 105.7 136.9 46 11867.8 12638.4 13398.9 14077.6 14441.4 14256.3 14178.0 14151.2 14242.1 14453.8 14601.4 47 Memo: Calculation of Gross Domestic Product from National Income: (2) 42 National Income, from line 1 above 43 44 45 Plus: Private consumption of fixed capital Government consumption of fixed capital Statistical discrepancy 46 Less: Net U.S. income receipts from rest of the world 47 Equals: Gross Domestic Product (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. 15 Z.1, June 10, 2010 F.8 Saving and Investment (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 1 Gross saving 1724.2 1903.4 2174.4 2040.2 1824.1 1500.3 1595.3 1530.7 1401.7 1473.5 1473.0 1 2 Net saving 291.4 362.0 513.7 280.2 -23.0 -363.7 -288.3 -333.3 -449.0 -384.2 -386.3 2 679.2 619.1 666.5 495.0 659.8 881.9 717.4 960.2 919.5 930.6 948.9 3 3 Net private saving 4 Personal saving 303.7 127.7 235.0 178.9 286.4 458.6 403.1 595.7 431.5 403.9 372.3 4 5 6 7 8 9 Undistributed corporate profits w/IVA & CCA Undistributed profits Inventory valuation adjustment Capital consumption adjustment Wage accruals less disbursements 390.5 373.0 -34.3 51.8 -15.0 486.4 670.5 -30.7 -153.4 5.0 430.3 644.7 -38.0 -176.4 1.3 322.4 555.1 -44.0 -188.7 -6.3 378.3 480.7 -38.2 -64.1 -5.0 418.4 537.1 9.1 -127.8 5.0 294.2 358.0 81.1 -144.9 20.0 364.5 475.1 18.1 -128.6 0.0 488.0 624.1 -17.1 -118.9 0.0 526.7 691.1 -45.6 -118.8 0.0 576.6 840.5 -37.9 -226.0 0.0 5 6 7 8 9 -387.8 -257.1 -152.7 -214.8 -682.7 -1245.6 -1005.7 -1293.5 -1368.5 -1314.8 -1335.1 10 -379.5 -8.4 -283.0 25.9 -203.8 51.0 -236.5 21.7 -642.6 -40.2 -1226.5 -19.2 -969.1 -36.6 -1268.9 -24.6 -1353.6 -14.9 -1314.3 -0.5 -1352.5 17.3 11 12 10 11 12 Net government saving Federal State and local 13 Consumption of fixed captal 1432.8 1541.4 1660.7 1760.0 1847.1 1864.0 1883.6 1864.0 1850.7 1857.7 1859.3 13 14 15 16 Private Domestic business Households and institutions 1200.9 978.7 222.2 1290.8 1045.7 245.1 1391.4 1123.3 268.1 1469.6 1188.5 281.1 1536.2 1252.3 283.9 1538.8 1257.7 281.0 1561.3 1277.0 284.4 1540.5 1259.4 281.1 1525.5 1246.9 278.6 1527.7 1247.6 280.1 1525.3 1244.4 280.9 14 15 16 17 18 19 Government Federal State and local 231.9 94.8 137.1 250.6 100.4 150.1 269.3 106.6 162.7 290.4 112.6 177.9 310.9 119.8 191.2 325.2 125.6 199.6 322.3 122.5 199.8 323.5 124.0 199.5 325.2 126.1 199.1 330.0 130.0 200.0 334.1 132.0 202.0 17 18 19 1716.3 1823.7 1953.8 2025.4 1925.2 1717.6 1780.8 1692.4 1654.9 1742.1 1749.7 20 2340.9 2564.2 2752.2 2750.0 2632.4 2142.6 2190.3 2082.0 2080.4 2217.8 2260.6 21 1968.6 1903.6 1223.0 680.6 64.9 2172.2 2122.3 1347.3 774.9 50.0 2327.2 2267.2 1505.3 761.9 60.0 2288.5 2269.1 1640.2 629.0 19.4 2136.1 2170.8 1693.6 477.2 -34.8 1628.8 1749.7 1388.8 361.0 -120.9 1689.9 1817.2 1442.6 374.6 -127.4 1561.5 1737.7 1391.8 345.9 -176.2 1556.1 1712.6 1353.9 358.8 -156.5 1707.8 1731.4 1366.9 364.5 -23.6 1763.8 1726.9 1371.3 355.5 36.9 22 23 24 25 26 372.4 392.0 425.1 461.6 496.3 513.8 500.4 520.4 524.3 510.0 496.8 27 -1.1 -11.1 4.2 2.2 -0.4 3.0 3.1 3.0 2.9 2.9 2.9 28 20 21 22 23 24 25 26 27 Gross domestic investment, capital account transactions, and net lending, NIPAs Gross domestic investment Gross private domestic investment Fixed investment Nonresidential Residential Change in private inventories Gross government investment 28 Capital account transactions (net) 29 Net lending or net borrowing (-), NIPAs -623.5 -729.5 -802.6 -726.8 -706.8 -428.0 -412.6 -392.5 -428.4 -478.6 -513.8 29 30 Statistical discrepancy (line 20 less line 1) -7.9 -79.7 -220.6 -14.8 101.0 217.3 185.4 161.7 253.3 268.7 276.6 30 31 32 33 34 35 36 37 Addenda: Disaster losses Private Domestic business Households and institutions Government Federal State and local 29.4 29.4 17.4 12.0 0.0 0.0 0.0 110.4 99.2 48.8 50.4 11.2 0.5 10.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17.4 17.4 9.9 7.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31 32 33 34 35 36 37 (1) This table corresponds to NIPA table 5.1 in the Survey of Current Business, Department of Commerce. 16 Z.1, June 10, 2010 F.9 Net Capital Transfers (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 119.2 165.7 103.6 114.7 207.2 253.6 342.0 265.8 193.9 212.8 186.1 1 By private business Financial corporations Disaster-related insurance benefits Other Nonfinancial corporations Noncorporate business 17.3 17.3 17.3 0.0 0.0 0.0 28.9 28.9 28.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.0 8.0 8.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 By government Federal Investment grants to state and local govts. Disaster-related insurance benefits Financial stabilization payments Other capital transfers paid to business Other capital transfers paid to persons Capital transfers paid to the rest of the world (net) State and local Disaster-related insurance benefits 68.0 63.5 46.3 0.0 0.0 0.1 16.1 0.9 4.5 4.5 91.2 84.8 48.9 17.3 0.0 0.0 15.9 2.6 6.4 6.4 70.5 70.5 52.1 0.0 0.0 0.0 16.4 2.0 0.0 0.0 82.8 82.8 53.7 0.0 0.0 0.0 28.7 0.4 0.0 0.0 161.6 161.6 56.1 2.8 67.7 0.0 34.3 0.7 0.0 0.0 223.4 223.4 57.9 0.0 121.9 8.0 35.3 0.3 0.0 0.0 311.2 311.2 50.6 0.0 222.9 3.6 33.8 0.3 0.0 0.0 234.5 234.5 55.8 0.0 137.3 7.3 33.8 0.3 0.0 0.0 162.3 162.3 68.4 0.0 48.6 11.2 33.8 0.4 0.0 0.0 185.6 185.6 56.6 0.0 78.9 9.9 39.8 0.4 0.0 0.0 158.7 158.7 47.9 0.0 63.0 7.7 39.8 0.3 0.0 0.0 8 9 10 11 12 13 14 15 16 17 18 19 20 By persons Estate and gift taxes, federal Estate and gift taxes, state and local 30.3 24.6 5.6 30.3 25.0 5.3 33.1 27.8 5.3 31.8 26.5 5.4 33.9 28.3 5.6 30.2 24.8 5.5 30.8 25.1 5.7 31.3 25.6 5.6 31.5 26.1 5.4 27.2 22.1 5.1 27.4 22.3 5.1 18 19 20 21 22 23 By the rest of the world Disaster-related insurance benefits Other 3.7 3.7 0.0 15.4 15.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.8 3.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21 22 23 24 Capital transfers received, by sector 119.2 165.7 103.6 114.7 207.2 253.6 342.0 265.8 193.9 212.8 186.1 24 25 26 27 28 29 30 31 32 33 34 By private business Financial corporations Disaster-related insurance benefits Other Nonfinancial corporations Disaster-related insurance benefits Other Noncorporate business Disaster-related insurance benefits Other 21.7 1.1 1.1 0.0 6.7 6.5 0.1 13.9 13.9 0.0 55.3 1.1 1.1 0.0 15.5 15.5 0.0 38.7 38.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 79.8 68.0 0.4 67.7 3.2 3.2 0.0 8.5 8.5 0.0 129.9 121.9 0.0 121.9 2.0 0.0 2.0 6.0 0.0 6.0 226.6 222.9 0.0 222.9 0.1 0.0 0.1 3.6 0.0 3.6 144.6 137.3 0.0 137.3 0.1 0.0 0.1 7.3 0.0 7.3 59.8 48.6 0.0 48.6 4.3 0.0 4.3 7.0 0.0 7.0 88.8 78.9 0.0 78.9 3.7 0.0 3.7 6.2 0.0 6.2 70.7 63.0 0.0 63.0 3.3 0.0 3.3 4.4 0.0 4.4 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 By government Federal Estate and gift taxes paid by persons State and local Disaster-related insurance benefits Estate and gift taxes paid by persons Investment grants paid by federal government 76.6 24.6 24.6 52.0 0.0 5.6 46.3 81.2 25.0 25.0 56.2 2.1 5.3 48.9 85.2 27.8 27.8 57.4 0.0 5.3 52.1 85.5 26.5 26.5 59.1 0.0 5.4 53.7 90.0 28.3 28.3 61.7 0.0 5.6 56.1 88.1 24.8 24.8 63.3 0.0 5.5 57.9 81.4 25.1 25.1 56.3 0.0 5.7 50.6 87.1 25.6 25.6 61.4 0.0 5.6 55.8 99.9 26.1 26.1 73.8 0.0 5.4 68.4 83.8 22.1 22.1 61.7 0.0 5.1 56.6 75.3 22.3 22.3 53.0 0.0 5.1 47.9 35 36 37 38 39 40 41 42 43 44 By persons Disaster-related insurance benefits Other 20.0 3.9 16.1 26.6 10.7 15.9 16.4 0.0 16.4 28.7 0.0 28.7 36.8 2.5 34.3 35.3 0.0 35.3 33.8 0.0 33.8 33.8 0.0 33.8 33.8 0.0 33.8 39.8 0.0 39.8 39.8 0.0 39.8 42 43 44 45 46 47 By the rest of the world Capital transfers paid by U.S. government Other 0.9 0.9 0.0 2.6 2.6 0.0 2.0 2.0 0.0 0.4 0.4 0.0 0.7 0.7 0.0 0.3 0.3 0.0 0.3 0.3 0.0 0.3 0.3 0.0 0.4 0.4 0.0 0.4 0.4 0.0 0.3 0.3 0.0 45 46 47 2 3 4 5 6 7 Capital transfers paid, by sector 2005 Addenda: Net capital transfers paid by sector 48 49 50 51 52 53 54 55 56 57 58 By private business (lines 2-25) Financial corporations (lines 3-26) Property-casualty insurance companies (line 4) U.S.-chartered commercial banks Financial stabilization payments (2) Other (lines 5-27) Bank holding companies (GMAC) (2) Government-sponsored enterprises (2) Funding corporations (AIG) (2) Nonfinancial corporations (lines 6-29) Noncorporate business (lines 7-32) -4.4 16.2 17.3 -1.1 0.0 -1.1 0.0 0.0 0.0 -6.7 -13.9 -26.5 27.7 28.9 -1.1 0.0 -1.1 0.0 0.0 0.0 -15.5 -38.7 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -71.8 -60.1 8.0 -29.6 -29.3 -0.4 -3.2 -6.9 -28.3 -3.2 -8.5 -129.9 -121.9 0.0 -18.2 -18.2 0.0 -11.3 -87.1 -5.3 -2.0 -6.0 -226.6 -222.9 0.0 -57.3 -57.3 0.0 0.0 -165.6 0.0 -0.1 -3.6 -144.6 -137.3 0.0 -12.3 -12.3 0.0 -30.0 -90.4 -4.6 -0.1 -7.3 -59.8 -48.6 0.0 -1.9 -1.9 0.0 0.0 -38.5 -8.1 -4.3 -7.0 -88.8 -78.9 0.0 -1.3 -1.3 0.0 -15.2 -54.0 -8.5 -3.7 -6.2 -70.7 -63.0 0.0 6.9 6.9 0.0 0.0 -61.2 -8.7 -3.3 -4.4 48 49 50 51 52 53 54 55 56 57 58 59 60 61 By government (lines 8-35) Federal (lines 9-36) State and local (lines 16-38) -8.6 38.9 -47.5 10.0 59.8 -49.8 -14.7 42.7 -57.4 -2.7 56.4 -59.1 4.0 133.3 -61.7 13.4 198.7 -63.3 6.9 286.1 -56.3 10.1 208.8 -61.4 13.8 136.2 -73.8 22.8 163.4 -61.7 20.4 136.4 -53.0 59 60 61 62 By persons (lines 18-42) 10.2 3.7 16.8 3.1 -2.9 -5.1 -3.0 -2.5 -2.2 -12.6 -12.4 62 63 By the rest of the world (lines 21-45) 2.8 12.8 -2.0 -0.4 3.1 -0.3 -0.3 -0.3 -0.4 -0.4 -0.3 63 (1) This table is based on NIPA table 5.10 in the Survey of Current Business, Department of Commerce. (2) Sum of lines 52, 54, 55, and 56 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Flow of Funds Accounts. 17 Z.1, June 10, 2010 F.10 Derivation of Measures of Personal Saving (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Net acquisition of financial assets 1362.1 1212.6 1250.6 1521.5 886.2 -364.0 -514.2 -728.8 -34.6 -178.4 -608.5 1 2 3 4 5 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares 5.4 53.0 450.3 -53.2 2.4 -50.2 510.5 47.6 5.2 31.5 506.8 168.4 15.8 -4.4 492.1 234.4 -21.2 216.8 208.2 239.6 -12.1 -20.4 20.6 -274.1 -16.4 -118.4 -144.8 64.2 -18.8 100.7 -151.8 -171.2 -7.2 -30.9 -71.5 -584.5 -6.2 -32.8 450.6 -405.1 1.5 -386.6 180.5 -269.9 2 3 4 5 6 Securities 137.0 57.0 -251.4 -70.0 -40.5 70.5 114.1 -258.5 699.2 -272.7 -31.6 6 6.4 0.6 22.4 78.2 40.3 39.6 -269.9 219.4 14.7 0.7 -97.3 99.3 78.7 119.6 -372.5 213.9 19.0 -2.7 -80.2 -59.5 52.1 197.6 -585.1 207.2 -10.2 -6.0 -33.6 345.5 23.4 206.3 -852.3 256.8 -101.3 -2.4 177.1 98.5 11.5 -187.2 -53.5 16.8 -1.4 -2.8 368.9 -650.8 91.3 -207.7 79.8 393.1 -1.6 -0.3 791.5 -895.9 131.1 -139.5 440.4 -211.6 -2.0 -1.0 207.0 -1204.9 18.6 -234.9 279.2 679.4 -0.8 -2.8 505.0 -60.7 113.6 -274.0 -126.5 545.5 -1.0 -6.9 -28.0 -441.5 101.9 -182.3 -273.9 559.1 -0.2 -4.0 270.4 -208.0 92.7 -496.8 -125.2 439.5 7 8 9 10 11 12 13 14 7 8 9 10 11 12 13 14 Open market paper U.S. savings bonds Other Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Corporate equities (2) Mutual fund shares 15 16 Life insurance reserves Pension fund reserves 33.1 303.8 16.1 235.3 65.6 209.1 34.2 150.6 67.0 108.2 27.8 81.0 66.4 -17.1 8.0 13.5 0.8 121.7 36.1 205.8 14.7 35.2 15 16 17 Miscellaneous and other assets 432.6 393.8 515.4 668.8 108.0 -257.3 -462.2 -250.7 -162.4 -154.1 -152.4 17 18 19 20 21 22 Gross investment in tangible assets Residential fixed investment Other fixed assets (3) Consumer durables Inventories (3) 1912.9 674.4 233.8 993.1 11.6 2047.8 768.3 248.7 1028.2 2.6 2075.2 755.2 268.6 1051.9 -0.4 1995.5 622.6 292.9 1079.6 0.4 1791.1 471.5 306.1 1021.9 -8.5 1561.0 357.3 246.2 965.8 -8.3 1580.0 370.7 260.2 956.7 -7.6 1524.0 342.6 245.7 943.9 -8.2 1566.0 355.2 237.7 981.0 -7.9 1573.9 360.8 241.1 981.7 -9.6 1595.7 351.8 246.1 1001.0 -3.3 18 19 20 21 22 23 24 25 26 Consumption of fixed capital Residential fixed investment Other fixed assets (3) Consumer durables 1140.4 214.6 174.8 750.9 1214.8 236.8 188.8 789.2 1287.0 258.9 203.9 824.2 1343.5 269.7 215.8 858.0 1382.9 268.3 227.7 886.9 1377.1 268.8 225.1 883.3 1378.4 272.7 227.1 878.5 1375.1 269.1 225.3 880.8 1376.9 266.4 223.5 886.9 1378.2 266.8 224.6 886.8 1385.3 266.4 225.3 893.6 23 24 25 26 27 Net investment in tangible assets (4) 772.6 833.0 788.2 651.9 408.2 183.8 201.6 148.8 189.1 195.7 210.4 27 459.8 59.0 242.2 11.6 531.6 59.8 239.0 2.6 496.3 64.7 227.6 -0.4 352.8 77.1 221.7 0.4 203.2 78.4 135.0 -8.5 88.6 21.0 82.5 -8.3 98.0 33.0 78.2 -7.6 73.6 20.4 63.1 -8.2 88.7 14.2 94.1 -7.9 94.0 16.5 94.9 -9.6 85.4 20.8 107.5 -3.3 28 29 30 31 1511.6 1705.3 1850.0 1514.2 163.1 -485.5 -509.9 -444.4 -577.9 -409.6 -668.2 32 1008.8 158.8 117.2 1.6 81.5 143.7 1106.5 120.6 100.4 0.8 -31.6 408.5 1064.9 237.3 95.4 3.3 59.7 389.4 707.4 301.0 139.3 3.6 33.4 329.4 -93.5 134.1 38.8 5.9 -160.7 238.5 -199.5 -53.4 -115.3 0.7 38.1 -156.2 -39.5 -7.6 -102.3 1.5 -122.3 -239.7 -209.6 -5.6 -123.8 2.0 53.6 -161.0 -428.2 -37.4 -79.5 -3.4 104.4 -133.7 -120.6 -162.8 -155.4 2.7 116.9 -90.4 -444.7 -70.6 -39.3 2.5 -26.5 -89.8 33 34 35 36 37 38 -3.7 -35.0 16.8 3.1 -11.5 -11.1 -6.5 -9.8 -9.2 -18.8 -16.8 39 619.4 305.3 205.6 662.4 1119.8 294.2 190.8 -145.3 723.1 408.2 253.4 40 28 29 30 31 32 33 34 35 36 37 38 Residential fixed investment Other fixed assets (3) Consumer durables Inventories (3) Net increase in liabilities Mortgage debt on nonfarm homes Other mortgage debt (3) Consumer credit Policy loans Security credit Other liabilities (3) 39 Net capital transfers paid (5) 40 Personal saving, with consumer durables (FOF) 41 Less net investment in consumer durables 242.2 239.0 227.6 221.7 135.0 82.5 78.2 63.1 94.1 94.9 107.5 41 42 = Personal saving, without consumer durables (FOF) (6) 377.2 66.3 -22.1 440.7 984.8 211.7 112.6 -208.4 629.1 313.4 145.9 42 43 Personal saving (NIPA, excludes consumer durables) 303.7 127.7 235.0 178.9 286.4 458.6 403.1 595.7 431.5 403.9 372.3 43 44 Difference 73.5 -61.4 -257.0 261.8 698.4 -246.9 -290.5 -804.1 197.6 -90.6 -226.4 44 45 Memo: Disposable personal income 8889.4 9277.3 9915.7 10403.1 10806.4 10917.3 10765.4 10966.2 10934.3 11003.3 11095.9 45 46 47 48 49 Personal saving as a percentage of disposable personal income: With consumer durables (FOF) (line 40) Without consumer durables (FOF) (line 42) Without consumer durables (NIPA) (line 43) Difference (line 44) 7.0 4.2 3.4 0.8 3.3 0.7 1.4 -0.7 2.1 -0.2 2.4 -2.6 6.4 4.2 1.7 2.5 10.4 9.1 2.7 6.5 2.7 1.9 4.2 -2.3 1.8 1.0 3.7 -2.7 -1.3 -1.9 5.4 -7.3 6.6 5.8 3.9 1.8 3.7 2.8 3.7 -0.8 2.3 1.3 3.4 -2.0 46 47 48 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 fund shares (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 58 plus line 62. (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) plus net capital transfers paid (line 39). Line 43 is disposable personal income (line 45) less personal outlays (table F.100, line 4). 18 Z.1, June 10, 2010 F.100 Households and Nonprofit Organizations (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2 3 4 5 Personal income - Personal current taxes = Disposable personal income - Personal outlays = Personal saving, NIPA (2) 6 7 8 9 + Government insurance and pension reserves (3) + Net investment in consumer durables + Consumption of fixed capital - Net capital transfers paid (4) 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 9937.2 1047.8 8889.4 8585.7 303.7 10485.9 1208.6 9277.3 9149.6 127.7 11268.1 1352.4 9915.7 9680.7 235.0 11894.1 1490.9 10403.1 10224.3 178.9 12238.8 1432.4 10806.4 10520.0 286.4 12019.0 1101.7 10917.3 10458.7 458.6 11952.7 1187.3 10765.4 10362.3 403.1 12048.8 1082.6 10966.2 10370.5 595.7 12005.2 1071.0 10934.3 10502.8 431.5 12069.4 1066.1 11003.3 10599.3 403.9 12178.9 1083.0 11095.9 10723.7 372.3 1 2 3 4 5 0.0 242.2 973.0 10.2 0.7 239.0 1034.3 3.7 0.1 227.6 1092.3 16.8 0.1 221.7 1139.0 3.1 -0.6 135.0 1170.8 -2.9 0.5 82.5 1164.3 -5.1 0.8 78.2 1162.9 -3.0 -0.2 63.1 1161.8 -2.5 -1.5 94.1 1165.5 -2.2 2.8 94.9 1166.9 -12.6 -4.5 107.5 1174.5 -12.4 6 7 8 9 10 = Gross saving less net capital transfers paid 1508.7 1398.0 1538.3 1536.6 1594.5 1711.0 1647.9 1823.0 1691.9 1681.1 1662.1 10 11 Gross investment 1583.6 1336.6 1284.3 1799.5 2294.9 1465.1 1357.7 1020.5 1892.7 1589.7 1442.7 11 12 13 14 15 Capital expenditures Residential Consumer durable goods Nonprofit nonresidential 1678.3 594.4 993.1 90.8 1803.1 681.9 1028.2 93.0 1821.3 670.1 1051.9 99.3 1728.2 541.9 1079.6 106.7 1534.5 401.1 1021.9 111.5 1369.1 301.4 965.8 101.9 1373.8 313.0 956.7 104.1 1335.4 288.7 943.9 102.8 1381.8 299.6 981.0 101.2 1385.5 304.4 981.7 99.4 1397.0 296.2 1001.0 99.7 12 13 14 15 16 Net financial investment -94.7 -466.5 -537.0 71.3 760.5 96.0 -16.1 -315.0 511.0 204.2 45.7 16 17 Net acquisition of financial assets 1054.6 689.3 723.3 993.0 654.6 -100.7 -304.5 -483.6 281.3 104.1 -280.2 17 18 19 20 21 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares 5.4 -54.3 463.5 -56.1 2.4 -127.2 487.1 45.2 5.2 -43.8 486.5 165.2 15.8 -71.8 477.2 232.2 -21.2 194.2 179.5 235.2 -12.1 16.3 47.4 -268.6 -16.4 -89.6 -123.7 68.6 -18.8 137.0 -125.2 -165.7 -7.2 12.4 -39.9 -577.9 -6.2 5.2 478.4 -399.4 1.5 -347.2 209.1 -264.0 18 19 20 21 22 Credit market instruments 193.9 220.3 108.1 518.4 6.0 -411.1 -126.8 -1227.5 270.8 -560.8 -345.1 22 6.4 17.7 0.6 17.1 78.2 38.6 39.6 2.8 10.4 14.7 -102.6 0.7 -103.3 99.3 78.6 119.6 2.7 8.1 19.0 -83.1 -2.7 -80.3 -59.5 50.8 197.6 0.4 -17.3 -10.2 -42.5 -6.0 -36.6 345.5 23.9 206.3 8.5 -13.0 -101.3 171.2 -2.4 173.6 98.5 11.2 -187.2 12.2 1.4 -1.4 370.5 -2.8 373.3 -650.8 91.7 -207.7 -5.3 -8.3 -1.6 794.6 -0.3 794.9 -895.9 131.4 -139.5 -9.4 -6.4 -2.0 210.4 -1.0 211.4 -1204.9 19.0 -234.9 -7.2 -7.8 -0.8 507.4 -2.8 510.2 -60.7 114.1 -274.0 -5.7 -9.5 -1.0 -30.3 -6.9 -23.4 -441.5 102.3 -182.3 1.3 -9.2 -0.2 271.1 -4.0 275.1 -208.0 93.1 -496.8 1.6 -5.8 23 24 25 26 27 28 29 30 31 -269.9 219.4 103.0 33.1 303.8 60.4 52.5 -372.5 213.9 -3.0 16.1 235.3 -86.3 58.0 -585.1 207.2 80.4 65.6 209.1 -12.6 37.4 -852.3 256.8 210.8 34.2 150.6 -45.1 66.1 -53.5 16.8 -123.8 67.0 108.2 -9.2 55.2 79.8 393.1 -74.1 27.8 81.0 -2.5 22.4 440.4 -211.6 -305.2 66.4 -17.1 22.3 -11.8 279.2 679.4 -36.2 8.0 13.5 -36.1 8.8 -126.5 545.5 57.7 0.8 121.7 -3.8 27.8 -273.9 559.1 -12.6 36.1 205.8 7.6 64.7 -125.2 439.5 43.9 14.7 35.2 37.6 19.7 32 33 34 35 36 37 38 1149.3 1155.8 1260.4 921.6 -105.9 -196.7 -288.4 -168.6 -229.7 -100.1 -326.0 39 1049.7 1173.3 1186.6 872.6 35.9 -240.9 -170.5 -223.4 -349.1 -220.4 -330.0 40 926.0 117.2 11.4 -23.0 0.3 17.8 1039.0 100.4 16.0 9.7 0.0 8.1 990.7 95.4 18.9 49.9 4.8 26.9 673.5 139.3 17.1 13.4 3.2 26.0 -46.6 38.8 8.1 18.0 6.2 11.4 -162.6 -115.3 15.0 30.0 0.5 -8.6 -8.7 -102.3 12.0 -68.4 1.4 -4.5 -168.5 -123.8 21.7 48.3 1.7 -2.8 -359.6 -79.5 21.2 85.6 -3.9 -12.9 -113.5 -155.4 5.1 54.6 2.9 -14.1 -389.8 -39.3 10.1 102.1 2.3 -15.5 41 42 43 44 45 46 81.5 16.5 -31.6 13.0 59.7 13.6 33.4 14.6 -160.7 15.7 38.1 10.9 -122.3 6.4 53.6 7.9 104.4 16.5 116.9 12.9 -26.5 20.4 47 48 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 Open market paper Treasury securities Savings bonds Other Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Other loans and advances (5) Mortgages Corporate equities (6) Mutual fund shares Security credit Life insurance reserves Pension fund reserves Equity in noncorporate business Miscellaneous assets Net increase in liabilities Credit market instruments Home mortgages (7) Consumer credit Municipal securities Bank loans n.e.c. (8) Other loans and advances Commercial mortgages Security credit Trade payables Deferred and unpaid life insurance premiums Discrepancy 1.6 1.0 0.5 1.0 3.2 -4.9 -2.0 -6.7 -1.5 -9.5 10.1 49 -74.9 61.4 254.0 -263.0 -700.4 245.8 290.2 802.5 -200.9 91.4 219.4 50 (1) Sector includes farm households and domestic hedge funds. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations. (2) See table F.10 for derivation of alternative measures of personal saving. (3) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. (4) Table F.9, line 62. (5) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds. (6) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 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. (8) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.108, line 17. 19 Z.1, June 10, 2010 F.101 Nonfinancial Business (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Income before taxes 1752.5 2084.2 2311.2 2226.5 1997.7 1934.7 1814.0 1889.7 1960.7 2074.3 2216.3 1 2 Gross saving less net capital transfers paid 1123.8 1309.5 1283.3 1312.5 1367.2 1371.4 1359.3 1359.5 1375.3 1391.5 1433.5 2 3 Gross investment 1224.8 1186.7 1194.4 1178.1 838.5 1198.6 804.8 1283.8 1380.2 1325.7 1391.9 3 1113.1 1231.5 1395.9 1450.1 1446.5 1070.6 1135.6 1010.3 994.0 1142.5 1203.0 4 1057.8 80.7 977.2 1189.7 90.6 1099.1 1331.5 88.2 1243.3 1440.8 96.3 1344.5 1472.3 76.0 1396.3 1195.2 59.6 1135.6 1246.3 60.6 1185.8 1194.4 57.8 1136.6 1163.3 60.1 1103.2 1176.9 60.1 1116.8 1177.3 53.1 1124.3 5 6 7 64.9 -9.7 50.0 -8.1 60.0 4.4 19.4 -10.1 -34.8 8.9 -120.9 -3.7 -127.4 16.6 -176.2 -7.9 -156.5 -12.7 -23.6 -10.8 36.9 -11.3 8 9 4 Capital expenditures 5 6 7 Fixed investment Residential Nonresidential 8 9 Change in inventories Nonproduced nonfinancial assets 10 111.8 -44.8 -201.5 -272.1 -608.0 128.0 -330.8 273.5 386.2 183.2 188.9 10 11 Net acquisition of financial assets 1147.7 1380.8 1218.8 1550.3 227.5 206.6 -145.9 260.3 336.0 376.0 350.6 11 12 13 14 15 16 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 15.6 109.9 24.5 13.2 0.4 9.9 150.5 73.4 42.0 8.1 -14.2 -41.6 66.9 71.3 1.0 0.9 58.4 -40.7 130.2 -7.5 -25.1 -67.2 -25.7 162.6 -0.5 23.9 159.0 141.6 -77.3 2.4 5.8 64.8 39.6 15.0 1.3 65.4 168.0 17.3 -66.3 2.0 2.1 201.0 444.7 -174.4 4.7 22.4 202.4 64.9 -83.7 1.7 -7.8 234.7 14.0 -275.9 -0.7 12 13 14 15 16 17 Credit market instruments 42.7 53.8 -11.7 -69.1 -21.6 -9.2 -25.5 15.8 -66.9 39.7 15.3 17 19.3 5.6 0.1 -1.9 19.4 0.2 16.0 24.1 6.0 0.4 7.0 0.4 11.7 -6.5 -2.2 -2.7 -10.0 -2.0 -53.2 -4.1 -2.4 0.6 -11.0 1.0 -9.4 -4.0 -2.5 -2.3 -4.6 1.2 -12.0 13.1 2.5 0.1 -10.2 -2.6 -36.0 35.9 -13.5 -13.7 -9.6 11.3 8.3 17.6 20.7 -2.4 -10.2 -18.2 -22.4 -4.2 0.3 6.3 -10.8 -36.2 2.1 2.8 2.5 10.1 -10.3 32.6 24.0 2.8 2.5 -1.8 -10.4 -1.9 18 19 20 21 22 23 -1.5 155.5 787.5 1.5 344.2 697.4 24.9 21.7 1100.6 0.2 217.8 1260.1 -6.1 -95.5 306.5 39.9 -77.3 3.5 39.9 -234.1 -52.8 39.9 -159.7 177.8 39.9 43.1 -158.2 39.9 41.8 47.0 39.9 -77.6 408.7 24 25 26 1035.9 1425.7 1420.3 1822.4 835.4 78.6 184.9 -13.2 -50.2 192.8 161.7 27 458.3 674.8 894.1 1224.0 576.1 -281.9 -83.2 -318.3 -336.7 -389.3 -2.5 28 15.3 5.3 75.5 -7.7 7.6 56.7 22.4 5.4 215.6 11.3 8.1 311.2 7.7 2.6 204.6 -72.4 5.3 381.4 -138.4 4.8 579.2 -132.4 5.0 396.5 2.4 9.7 270.0 -21.2 1.5 280.0 54.6 4.2 413.0 29 30 31 28.2 58.0 276.0 124.8 118.7 374.9 125.4 154.5 370.8 226.8 307.2 359.5 174.6 68.3 118.3 -325.7 -155.7 -114.8 -284.8 -213.2 -30.9 -345.5 -180.6 -61.3 -366.0 -126.7 -126.1 -306.5 -102.2 -241.0 -281.1 -36.6 -156.5 32 33 34 -122.7 121.4 15.1 499.2 -341.8 248.7 6.9 922.2 -565.7 123.4 8.2 966.1 -786.8 111.1 -45.8 1367.3 -336.0 -115.5 5.7 725.7 -63.3 -62.8 -4.6 490.4 -133.1 -258.8 -44.9 702.1 126.4 -93.3 -5.7 293.1 65.7 1.9 12.6 200.5 -312.2 99.0 19.7 765.9 -207.6 -85.9 -8.8 419.1 35 36 37 38 64.6 -85.1 -5.8 -47.5 -20.6 0.7 2.8 -15.4 5.7 9.8 47.3 39 -101.0 122.8 88.9 134.5 528.7 172.8 554.4 75.7 -4.9 65.8 41.6 40 18 19 20 21 22 23 24 25 26 27 28 Net financial investment Commercial paper Treasury securities Agency- and GSE-backed securities Municipal securities Mortgages Consumer credit Mutual fund shares Trade receivables Miscellaneous assets Net increase in liabilities Credit market instruments 29 30 31 Commercial paper Municipal securities Corporate bonds 32 33 34 Bank loans n.e.c. Other loans and advances Mortgages 35 36 37 38 Corporate equities Trade payables Taxes payable Miscellaneous liabilities 39 Proprietors’ net investment 40 Discrepancy (1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business. 20 Z.1, June 10, 2010 F.102 Nonfarm Nonfinancial Corporate Business Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2 3 4 5 6 7 8 9 10 Profits before tax (book) - Taxes on corporate income - Net dividends + Capital consumption allowance (1) = U.S. internal funds, book + Foreign earnings retained abroad + Inventory valuation adjustment (IVA) - Net capital transfers paid (2) = Total internal funds + IVA Gross investment 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 659.9 186.2 361.7 739.2 851.2 120.4 -34.3 -6.7 944.0 954.1 271.0 168.0 608.7 1123.8 -17.5 -30.7 -15.5 1091.1 1115.1 306.9 465.8 638.7 981.0 148.9 -38.0 -0.0 1091.8 1056.4 298.6 462.2 676.6 972.2 181.1 -44.0 -0.0 1109.3 805.0 237.2 406.8 834.7 995.6 187.3 -38.2 -3.2 1148.0 783.4 221.4 358.9 780.9 984.0 158.9 9.1 -2.0 1154.1 675.1 197.4 370.9 779.8 886.6 173.5 81.1 -0.1 1141.3 753.9 216.4 360.7 781.1 958.0 164.3 18.1 -0.1 1140.4 808.5 226.4 330.7 780.8 1032.3 139.3 -17.1 -4.3 1158.8 896.2 245.5 373.2 781.9 1059.3 158.6 -45.6 -3.7 1176.0 1029.3 292.9 370.7 682.7 1048.5 206.9 -37.9 -3.3 1220.7 1 2 3 4 5 6 7 8 9 1045.0 968.3 1002.9 974.8 619.3 981.3 586.8 1064.6 1163.7 1110.2 1179.1 10 11 12 13 14 Capital expenditures Fixed investment (3) Inventory change + IVA Nonproduced nonfinancial assets 878.4 834.8 53.3 -9.7 986.8 947.6 47.3 -8.1 1142.0 1077.3 60.4 4.4 1182.8 1173.9 19.0 -10.1 1189.8 1207.3 -26.3 8.9 878.8 995.0 -112.6 -3.7 929.4 1032.5 -119.8 16.6 821.7 997.6 -168.0 -7.9 809.8 971.2 -148.7 -12.7 954.0 978.8 -14.0 -10.8 1004.2 975.3 40.2 -11.3 11 12 13 14 15 Net financial investment 166.6 -18.6 -139.2 -208.0 -570.6 102.6 -342.6 242.9 353.9 156.2 174.9 15 16 Net acquisition of financial assets 775.6 942.6 697.3 1069.2 16.5 469.2 61.1 520.9 646.1 648.8 631.5 16 17 18 19 20 21 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 15.6 2.5 37.7 10.3 0.4 9.9 73.6 49.9 39.6 8.1 -14.2 -116.9 46.6 68.1 1.0 0.9 -9.0 -55.7 128.1 -7.5 -25.1 -89.8 -54.3 158.2 -0.5 23.9 195.7 168.4 -71.8 2.4 5.8 93.7 60.8 19.4 1.3 65.4 204.4 43.9 -60.8 2.0 2.1 244.3 476.3 -167.9 4.7 22.4 240.4 92.7 -78.0 1.7 -7.8 274.1 42.5 -270.0 -0.7 17 18 19 20 21 22 Credit market instruments 31.2 42.4 -11.6 -79.1 -27.9 -1.3 -19.3 23.7 -57.5 48.0 23.7 22 19.3 0.3 0.1 -3.6 14.8 0.2 16.0 18.1 6.0 0.3 1.7 0.4 11.7 -6.7 -2.2 -4.0 -8.4 -2.0 -53.2 -7.1 -2.4 1.1 -18.4 1.0 -9.4 -7.5 -2.5 -2.6 -7.1 1.2 -12.0 17.5 2.5 0.5 -7.1 -2.6 -36.0 39.4 -13.5 -13.3 -7.1 11.3 8.3 22.0 20.7 -2.0 -7.1 -18.2 -22.4 1.0 0.3 6.8 -7.1 -36.2 2.1 7.4 2.5 10.5 -7.1 32.6 24.0 7.5 2.5 -1.4 -7.1 -1.9 23 24 25 26 27 28 23 24 25 26 27 28 Commercial paper Treasury securities Agency- and GSE-backed securities Municipal securities Mortgages Consumer credit 29 30 Mutual fund shares Trade receivables -1.5 128.8 1.5 277.6 24.9 -18.3 0.2 163.1 -6.1 -126.5 39.9 -38.1 39.9 -203.2 39.9 -120.9 39.9 89.3 39.9 82.4 39.9 -35.9 29 30 31 32 33 34 35 36 Miscellaneous assets U.S. direct investment abroad (4) Insurance receivables Equity in GSEs Investment in finance co. subs. Other 550.6 272.4 18.9 0.0 2.6 256.7 440.1 24.7 20.7 0.0 64.4 330.3 717.6 219.2 6.6 0.0 22.9 469.0 928.2 297.4 7.4 0.0 -54.8 678.3 188.5 264.4 9.9 0.0 -1.1 -84.8 150.0 204.9 -1.8 0.0 -9.3 -43.8 62.7 171.6 -3.2 0.0 -14.0 -91.7 323.3 207.5 -0.8 0.0 -18.4 134.9 14.9 213.9 1.3 0.0 -5.9 -194.4 199.3 226.7 -4.7 0.0 1.2 -23.9 565.6 218.3 6.9 0.0 -3.2 343.6 31 32 33 34 35 36 609.0 961.2 836.5 1277.3 587.1 366.6 403.6 278.0 292.2 492.6 456.6 37 74.7 -15.8 -94.4 -32.1 44.7 -59.9 -33.9 82.8 80.7 -369.2 81.1 38 -122.7 -341.8 -565.7 -786.8 -336.0 -63.3 -133.1 126.4 65.7 -312.2 -207.6 39 197.4 326.0 471.3 754.7 380.7 3.4 99.2 -43.6 15.0 -57.0 288.7 40 15.3 5.3 75.5 -5.6 54.7 52.2 -7.7 7.6 56.7 -33.9 108.5 194.9 22.4 5.4 215.6 9.1 132.5 86.2 11.3 8.1 311.2 85.1 288.5 50.6 7.7 2.6 204.6 68.1 55.2 42.6 -72.4 5.3 381.4 -133.6 -144.2 -33.1 -138.4 4.8 579.2 -132.9 -216.6 3.0 -132.4 5.0 396.5 -131.2 -164.2 -17.4 2.4 9.7 270.0 -135.6 -98.5 -33.0 -21.2 1.5 280.0 -134.7 -97.5 -85.2 54.6 4.2 413.0 -108.1 -28.4 -46.6 41 42 43 44 45 46 97.3 6.8 430.3 95.7 -3.1 337.8 199.4 -1.8 779.4 98.7 -1.9 682.6 110.3 -0.8 821.3 191.0 -2.0 632.3 85.9 -49.6 1273.1 281.3 4.4 987.3 -157.9 3.1 697.2 214.2 0.7 482.3 -45.0 -1.3 472.9 106.5 2.5 363.8 -235.4 -42.4 715.3 108.3 3.5 603.6 -82.5 -2.4 280.1 66.1 18.2 195.9 14.9 16.4 180.2 133.2 -7.0 53.9 122.9 23.1 715.8 118.6 -4.6 601.8 -50.0 -5.3 430.8 104.0 -2.2 329.1 47 48 49 50 51 52 -101.0 122.8 88.9 134.5 528.7 172.8 554.4 75.7 -4.9 65.8 41.6 53 61.5 -106.2 199.1 254.7 232.4 -114.4 -38.3 -154.3 -205.3 -59.6 -6.3 54 37 38 Net increase in liabilities Net funds raised in markets 39 Net new equity issues 40 Credit market instruments 41 42 43 44 45 46 47 48 49 50 51 52 Commercial paper Municipal securities (5) Corporate bonds (4) Bank loans n.e.c. Other loans and advances (6) Mortgages Trade payables Taxes payable Miscellaneous liabilities Foreign direct investment in U.S. Pension fund contributions payable Other 53 Discrepancy 54 Memo: Financing gap (7) (1) Consumption of fixed capital plus capital consumption adjustment. (2) Table F.9, line 57. (3) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 10 and 16 respectively. (4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues. (5) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds. (6) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table F.216. (7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7). 21 Z.1, June 10, 2010 F.103 Nonfarm Noncorporate Business Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2 Net income with IVA and CCAdj Gross saving = capital consumption 3 4 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 1042.9 139.9 1086.3 151.0 1166.8 163.4 1130.7 171.7 1144.0 177.5 1121.9 177.9 1111.6 180.1 1106.8 178.3 1126.3 176.6 1142.9 176.6 1156.0 176.2 1 2 Gross saving less net capital transfers paid (1) 153.8 189.6 163.4 171.7 186.0 183.9 183.6 185.5 183.6 182.8 180.6 3 Gross investment 153.8 189.6 163.4 171.7 186.0 183.9 183.6 185.5 183.6 182.8 180.6 4 5 6 7 Capital expenditures Fixed investment (2) Change in inventories 192.2 189.4 2.8 208.4 205.9 2.5 222.3 219.1 3.2 231.1 230.1 1.0 224.6 226.0 -1.4 161.0 166.9 -5.9 173.7 180.0 -6.3 154.9 163.8 -8.8 151.6 159.4 -7.8 163.7 164.4 -0.7 170.0 167.8 2.1 5 6 7 8 Net financial investment -38.3 -18.8 -58.9 -59.5 -38.6 22.9 9.9 30.6 32.0 19.1 10.6 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Net acquisition of financial assets Checkable deposits and currency Time and savings deposits Money market mutual funds Treasury securities Municipal securities Mortgages Consumer credit Trade receivables Miscellaneous assets Insurance receivables Equity investment in GSEs (3) Other 369.0 106.3 -13.2 2.9 5.3 1.7 4.6 0.0 26.6 234.9 3.5 -0.1 231.4 436.2 76.3 23.5 2.4 6.0 0.1 5.3 0.0 66.6 256.0 4.9 -0.1 251.2 515.3 73.1 20.3 3.2 0.2 1.3 -1.5 0.0 40.0 378.9 1.6 0.1 377.2 475.9 65.7 14.9 2.2 3.0 -0.5 7.4 0.0 54.7 328.4 1.7 0.3 326.4 208.2 21.6 28.7 4.4 3.5 0.3 2.5 0.0 31.0 116.2 2.1 0.9 113.3 -263.2 -36.8 -26.8 -5.5 -4.4 -0.4 -3.1 0.0 -39.2 -147.0 0.2 0.7 -147.9 -207.5 -29.0 -21.1 -4.4 -3.5 -0.3 -2.5 0.0 -30.9 -115.9 -0.7 0.0 -115.2 -261.2 -36.5 -26.6 -5.5 -4.4 -0.4 -3.1 0.0 -38.9 -145.8 -0.2 0.8 -146.4 -310.7 -43.5 -31.6 -6.5 -5.2 -0.5 -3.7 0.0 -46.2 -173.5 0.3 1.4 -175.2 -273.3 -38.2 -27.8 -5.7 -4.6 -0.4 -3.3 0.0 -40.7 -152.6 1.5 0.7 -154.8 -280.5 -39.2 -28.5 -5.9 -4.7 -0.4 -3.3 0.0 -41.7 -156.6 1.7 -0.1 -158.2 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Net increase in liabilities Credit market instruments Bank loans n.e.c. Other loans and advances Mortgages Trade payables Taxes payable Miscellaneous liabilities Proprietors’ net investment 407.3 245.2 31.7 2.2 211.3 22.2 8.4 68.9 62.8 455.0 331.6 156.5 4.2 170.9 52.0 8.7 142.8 -80.1 574.2 408.6 113.0 14.4 281.3 20.0 9.0 144.8 -8.2 535.4 454.8 139.4 11.1 304.3 29.3 3.8 94.3 -46.7 246.8 194.9 103.4 33.2 58.3 18.2 2.6 28.6 2.7 -286.1 -290.7 -192.0 -8.7 -90.1 -23.0 -3.2 17.5 13.3 -217.4 -196.0 -150.0 -3.8 -42.2 -18.1 -2.6 -13.2 12.4 -291.8 -275.1 -212.7 -10.1 -52.2 -22.8 -3.2 12.9 -3.6 -342.7 -348.1 -232.9 -13.6 -101.6 -27.1 -3.8 20.3 16.1 -292.4 -343.7 -172.2 -7.2 -164.2 -23.9 -3.4 50.2 28.3 -291.2 -291.6 -170.4 -11.6 -109.6 -24.5 -3.5 -11.7 40.1 22 23 24 25 26 27 28 29 30 (1) Net capital transfers paid from table F.9, line 58. (2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 17 respectively. (3) Equity in the Farm Credit System. F.104 Farm Business (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 Proprietors’ net income with IVA and CCAdj Net saving (corporate) Consumption of fixed capital Corporate Noncorporate 49.7 -1.4 27.4 4.6 22.7 43.9 -0.7 29.5 5.0 24.5 29.3 -3.2 31.3 5.1 26.2 39.4 -1.3 32.8 5.5 27.4 48.7 -1.4 34.6 5.8 28.8 29.3 -1.6 35.0 6.1 28.9 27.3 -1.0 35.4 6.1 29.3 28.9 -1.4 35.0 6.1 28.9 25.8 -1.8 34.7 6.1 28.6 35.2 -2.0 34.7 6.1 28.6 31.0 -2.4 34.6 6.0 28.6 1 2 3 4 5 6 Gross saving 26.0 28.8 28.1 31.6 33.2 33.4 34.4 33.6 32.9 32.7 32.2 6 7 Gross investment 26.0 28.8 28.1 31.6 33.2 33.4 34.4 33.6 32.9 32.7 32.2 7 42.5 33.6 8.8 36.3 36.2 0.1 31.5 35.1 -3.6 36.2 36.8 -0.6 32.0 39.1 -7.1 30.9 33.3 -2.4 32.5 33.8 -1.3 33.6 33.0 0.6 32.6 32.7 -0.0 24.8 33.6 -8.9 28.8 34.2 -5.4 8 9 10 -16.5 -7.5 -3.4 -4.6 1.2 2.5 1.9 0.0 0.3 7.9 3.4 11 3.1 1.0 2.0 1.8 0.2 2.0 0.7 1.3 1.2 0.1 6.2 2.1 4.1 3.9 0.2 5.2 1.8 3.4 2.9 0.5 2.8 0.9 1.8 2.3 -0.5 0.6 0.2 0.4 0.4 -0.0 0.6 0.2 0.4 -0.1 0.5 0.6 0.2 0.4 0.8 -0.4 0.6 0.2 0.4 1.1 -0.8 0.6 0.2 0.4 -0.2 0.5 -0.4 -0.1 -0.2 -0.5 0.2 12 13 14 15 16 19.5 15.8 2.2 1.1 12.5 1.9 1.8 9.5 17.3 2.2 5.9 9.1 -2.8 -5.0 9.6 14.2 3.3 7.6 3.3 -7.0 2.4 9.7 14.6 2.3 7.6 4.6 -4.1 -0.8 1.5 0.5 3.2 -20.1 17.4 24.3 -23.3 -2.0 5.4 -0.1 -2.8 8.4 5.2 -12.6 -1.3 13.6 -1.9 7.2 8.3 -5.3 -9.7 0.5 0.3 -1.6 -6.4 8.3 12.0 -11.8 0.3 -3.5 2.6 -14.6 8.4 14.1 -10.3 -7.4 11.3 0.4 2.5 8.4 -0.1 -18.6 -3.8 0.4 -2.7 3.4 -0.4 -11.4 7.2 17 18 19 20 21 22 23 8 9 10 Capital expenditures Fixed investment (2) Change in inventories 11 Net financial investment 12 13 14 15 16 Net acquisition of financial assets Checkable deposits and currency Miscellaneous assets Insurance receivables Equity investment in GSEs (3) 17 18 19 20 21 22 23 Net increase in liabilities Credit market instruments Bank loans n.e.c. Other loans and advances Mortgages Trade payables Proprietors’ net investment (1) Corporate and noncorporate farms. (2) Nonresidential fixed investment, shown in table F.6, line 12. (3) Equity in the Farm Credit System. 22 Z.1, June 10, 2010 F.105 State and Local Governments, Excluding Employee Retirement Funds (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 1601.0 1730.4 1829.7 1927.3 1974.2 1995.5 1961.4 1989.3 2003.6 2027.5 2063.5 1 248.6 769.1 41.7 24.1 77.1 439.4 1.0 276.7 831.4 54.9 24.8 88.3 454.3 0.1 302.5 887.4 59.2 21.8 103.5 456.7 -1.3 322.8 934.0 56.5 19.8 114.2 483.9 -3.9 330.0 955.3 51.0 21.1 113.9 506.1 -3.2 273.0 931.6 58.5 21.9 116.1 597.5 -3.2 287.0 933.0 52.2 21.8 115.8 555.7 -4.0 252.7 928.0 57.4 21.7 115.7 617.4 -3.5 275.2 929.7 58.6 21.9 116.2 604.9 -2.9 277.3 935.6 65.8 22.1 116.9 612.1 -2.3 275.3 943.2 77.4 22.3 115.6 631.7 -2.0 2 3 4 5 6 7 8 Current expenditures, NIPA basis 1609.3 1704.5 1778.6 1905.6 2014.4 2014.6 1998.0 2013.9 2018.6 2028.0 2046.1 9 10 11 12 13 14 Consumption expenditures Govt. social benefit payments to persons Interest payments Subsidies - Wage accruals less disbursements 1139.1 384.3 85.6 0.4 0.0 1212.0 404.8 87.3 0.4 0.0 1282.3 402.9 93.0 0.4 0.0 1366.1 433.7 98.7 7.1 0.0 1452.4 455.0 103.9 3.0 0.0 1430.5 475.9 106.8 1.4 0.0 1424.4 465.7 106.0 2.0 0.0 1429.9 477.5 105.4 1.2 0.0 1429.8 480.0 107.5 1.2 0.0 1438.1 480.4 108.3 1.2 0.0 1451.2 484.1 109.2 1.6 0.0 10 11 12 13 14 15 Net state and local govt. saving, NIPA basis -8.4 25.9 51.0 21.7 -40.2 -19.2 -36.6 -24.6 -14.9 -0.5 17.3 15 16 17 + Consumption of fixed capital - Net capital transfers paid (2) 137.1 -47.5 150.1 -49.8 162.7 -57.4 177.9 -59.1 191.2 -61.7 199.6 -63.3 199.8 -56.3 199.5 -61.4 199.1 -73.8 200.0 -61.7 202.0 -53.0 16 17 18 = Gross saving less net capital transfers paid 176.2 225.8 271.2 258.6 212.7 243.8 219.5 236.3 258.0 261.2 272.3 18 19 Gross investment 249.0 299.1 391.6 355.2 318.2 345.7 293.6 524.4 314.6 250.1 265.0 19 269.1 11.4 281.6 10.3 304.4 11.1 333.7 13.1 348.2 12.9 355.4 13.4 347.9 13.1 361.3 13.2 361.3 13.5 350.9 13.7 337.1 14.0 20 21 2 3 4 5 6 7 8 9 Current receipts, NIPA basis 2005 Personal current taxes Taxes on production and imports Taxes on corporate income Contributions for govt. social insurance Income receipts on assets Current transfer receipts Current surplus of government enterprises 20 21 Fixed investment Nonproduced nonfinancial assets 22 Net financial investment 23 Net acq. of financial assets -31.5 7.3 76.1 8.4 -42.9 -23.1 -67.4 149.9 -60.1 -114.6 -86.1 22 112.8 211.4 264.2 236.7 44.3 123.9 76.7 280.6 106.4 31.8 53.4 23 24 25 26 27 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs -6.8 11.6 3.9 7.7 9.5 12.8 5.1 10.0 5.4 26.2 6.8 13.5 -4.8 36.4 4.9 9.7 8.5 19.1 0.7 1.5 19.4 10.8 6.1 11.9 -16.2 63.0 13.0 16.2 114.7 -24.8 -2.1 5.3 -45.7 11.1 8.4 16.5 24.6 -6.0 4.9 9.6 -11.2 36.1 4.2 8.3 24 25 26 27 28 Credit market instruments 72.4 154.0 118.5 41.5 -126.4 -17.1 -21.5 -50.7 25.6 -21.7 -103.2 28 10.1 24.9 21.9 13.1 92.3 28.4 17.6 35.5 38.3 -7.3 14.5 14.6 -62.3 -39.6 -20.3 -45.6 49.4 -52.0 -33.1 42.8 -33.3 -52.4 30.3 -52.4 -57.9 60.7 -56.4 -39.0 63.9 -66.1 -19.4 -34.0 -66.6 29 30 31 0.3 6.9 8.3 0.4 9.0 10.8 0.5 12.1 14.5 0.3 8.8 10.5 0.1 1.3 -5.6 0.4 10.7 20.0 -0.5 17.5 -14.9 1.3 -18.2 40.7 0.6 34.9 43.8 0.3 8.7 10.4 0.3 7.5 9.0 32 33 34 29 30 31 Open market paper Treasury securities Agency- and GSE-backed securities 32 33 34 Municipal securities Corporate and foreign bonds Mortgages 35 36 Corporate equities Mutual fund shares -4.2 -1.3 2.5 0.8 -4.4 -1.3 7.1 2.2 17.6 8.6 4.6 8.0 13.5 8.4 4.3 12.6 1.9 11.4 -1.4 -0.4 9.9 0.9 35 36 37 38 39 Trade receivables Taxes receivable Miscellaneous assets 7.9 11.4 10.1 10.2 15.5 -8.9 13.8 11.5 74.2 10.0 -0.4 130.1 1.5 -4.6 117.8 12.2 -2.5 70.5 -14.2 -2.4 16.7 36.2 -3.1 188.1 16.9 -2.0 62.3 9.9 -2.6 14.8 8.5 8.3 91.5 37 38 39 144.2 204.1 188.1 228.3 87.2 146.9 144.1 130.7 166.5 146.4 139.5 40 40 Net increase in liabilities 41 Credit market instruments 114.1 172.0 153.7 191.0 47.3 108.2 105.9 91.9 127.6 107.5 100.7 41 42 43 44 45 Municipal securities Short-term Other U.S. government loans 113.8 -5.9 119.7 0.3 171.3 5.7 165.6 0.6 153.1 -3.1 156.2 0.6 190.4 17.3 173.1 0.7 46.4 12.0 34.4 0.8 107.4 2.8 104.6 0.8 105.3 -6.0 111.2 0.6 91.1 -7.6 98.8 0.8 126.9 51.6 75.3 0.7 106.3 -26.8 133.1 1.2 100.1 -13.1 113.2 0.6 42 43 44 45 30.2 32.1 34.4 37.2 40.0 38.7 38.2 38.8 39.0 38.9 38.8 46 -72.8 -73.3 -120.4 -96.6 -105.5 -101.9 -74.1 -288.1 -56.7 11.2 7.3 47 46 47 Trade payables Discrepancy (1) Data for retirement funds are shown in table F.119. (2) Table F.9, line 61. 23 Z.1, June 10, 2010 F.106 Federal Government Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2 3 4 5 6 7 8 9 Current receipts, NIPA basis Personal current taxes Taxes on production and imports Taxes on corporate income Taxes from the rest of the world Contributions for govt. social insurance Income receipts on assets Current transfer receipts Current surplus of government enterprises 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 2013.9 2290.1 2524.5 2660.8 2475.0 2224.8 2251.3 2237.0 2188.5 2222.7 2301.1 1 799.2 94.3 250.3 10.0 807.6 23.2 29.0 0.3 931.9 98.8 341.0 12.1 852.6 23.7 33.6 -3.5 1049.9 99.4 395.0 14.0 904.6 26.1 38.3 -2.9 1168.1 94.7 370.2 14.2 944.4 29.1 42.7 -2.7 1102.5 92.0 212.3 15.0 974.5 30.3 52.3 -3.8 828.7 92.3 231.0 12.3 949.1 48.2 68.1 -4.9 900.3 85.7 192.0 13.5 953.0 40.7 72.7 -6.7 829.9 91.6 223.8 12.1 954.3 50.8 79.8 -5.3 795.8 93.5 238.1 10.8 945.7 49.5 58.7 -3.5 788.8 98.5 270.2 13.1 943.5 51.7 61.1 -4.2 807.7 101.6 316.1 13.3 963.7 43.7 58.3 -3.4 2 3 4 5 6 7 8 9 10 Current expenditures, NIPA basis 2393.4 2573.1 2728.3 2897.2 3117.6 3451.3 3220.3 3505.9 3542.1 3537.0 3653.5 10 11 12 13 14 15 16 Consumption expenditures Government social benefits Other current transfer payments Interest payments Subsidies - Wage accruals less disbursements 721.4 1024.9 380.1 221.0 46.0 0.0 765.8 1089.2 402.1 255.4 60.5 0.0 811.0 1193.1 394.0 279.2 51.0 0.0 848.8 1267.5 421.1 312.2 47.6 0.0 934.4 1404.1 436.5 292.0 50.6 0.0 986.4 1611.8 522.6 272.3 58.2 0.0 954.2 1504.1 477.2 231.3 53.6 0.0 979.1 1646.1 549.6 277.4 53.7 0.0 1001.2 1640.7 537.3 296.3 66.5 0.0 1011.0 1656.4 526.2 284.1 59.1 0.0 1026.6 1715.0 558.9 294.2 58.8 0.0 11 12 13 14 15 16 17 Net federal government saving, NIPA basis -379.5 -283.0 -203.8 -236.5 -642.6 -1226.5 -969.1 -1268.9 -1353.6 -1314.3 -1352.5 17 18 19 20 21 + Consumption of fixed capital - Insurance and pension reserves (1) - Contr. for govt. soc. insur., U.S.-affiliated areas - Net capital transfers paid (2) 94.8 0.0 4.4 38.9 100.4 0.7 4.7 59.8 106.6 0.1 4.6 42.7 112.6 0.1 4.8 56.4 119.8 -0.6 5.0 65.7 125.6 0.5 5.1 76.7 122.5 0.8 5.1 63.2 124.0 -0.2 5.1 71.6 126.1 -1.5 5.0 87.6 130.0 2.8 5.0 84.5 132.0 -4.5 5.1 73.4 18 19 20 21 22 = Gross saving less net capital transfers paid -327.9 -247.7 -144.6 -185.2 -592.9 -1183.1 -915.6 -1221.3 -1318.7 -1276.7 -1294.4 22 23 24 25 Gross investment Fixed investment Nonproduced nonfinancial assets -330.8 103.3 0.0 -270.4 110.5 -0.5 -157.7 120.7 -13.3 -209.1 127.9 -1.3 -676.4 148.2 -19.2 -1114.1 158.4 -7.0 -868.4 152.4 -26.9 -1316.4 159.2 -2.6 -1165.2 163.1 1.8 -1106.4 159.1 -0.4 -1191.0 159.7 -0.2 23 24 25 -434.1 -380.4 -265.0 -335.7 -805.4 -1265.5 -993.9 -1473.0 -1330.1 -1265.1 -1350.6 26 4.3 30.2 -14.0 7.7 550.2 317.1 382.0 482.6 442.2 -38.3 279.4 27 -3.1 -31.0 -0.0 -14.4 12.2 -1.0 -2.7 -2.7 0.2 -0.4 25.1 1.2 4.2 313.1 -1.3 51.9 -174.2 0.3 3.5 -338.3 0.6 14.3 105.9 -0.5 195.3 -183.5 1.2 -5.4 -281.0 -0.0 0.7 151.5 0.4 28 29 30 26 27 Net financial investment Net acq. of financial assets 28 29 30 Gold, SDRs, and official foreign exchange Checkable deposits and currency Time and savings deposits 31 32 33 34 35 36 Credit market instruments Agency- and GSE-backed securities Corporate and foreign bonds Other loans and advances Mortgages Consumer credit (3) 2.3 0.0 0.0 -3.0 1.6 3.7 -0.9 0.0 0.0 -7.0 2.4 3.7 6.1 0.0 0.0 0.6 3.7 1.9 6.6 0.0 0.0 -2.2 2.1 6.7 86.5 54.4 0.0 6.0 13.5 12.6 325.0 171.1 0.6 65.7 12.6 75.0 327.1 227.8 0.0 59.0 3.6 36.7 389.2 213.2 1.5 96.0 21.8 56.8 335.1 123.9 0.7 94.9 31.1 84.5 248.4 119.5 0.1 13.1 -6.3 121.9 94.0 0.0 0.1 14.3 -5.2 84.8 31 32 33 34 35 36 37 38 39 40 Corporate equities (4) Trade receivables Taxes receivable Miscellaneous assets 0.0 10.5 22.3 3.3 0.0 9.2 25.3 -0.3 0.0 -11.6 -6.3 3.1 0.0 1.2 -28.0 1.9 256.3 4.2 -85.0 -28.0 0.6 7.9 70.4 35.2 363.6 6.2 8.0 11.1 -127.9 5.1 114.9 -18.4 53.7 13.7 72.0 -45.3 -287.1 6.7 86.9 193.4 -14.4 -8.4 51.3 4.3 37 38 39 40 438.4 410.5 251.1 343.4 1355.5 1582.6 1375.9 1955.6 1772.3 1226.8 1629.9 41 0.0 0.7 0.0 0.8 0.0 0.6 0.0 -0.7 0.0 -0.8 3.0 -0.4 0.0 -0.0 0.0 -0.0 12.0 -1.0 0.0 -0.4 0.0 0.0 42 43 361.9 0.6 361.9 -0.6 0.0 306.9 0.7 306.6 -0.4 0.0 183.4 -2.7 186.4 -0.3 0.0 237.1 -6.0 243.4 -0.4 0.0 1239.2 -2.4 1241.4 0.2 0.0 1443.9 -2.8 1446.5 0.1 0.0 1439.6 -0.3 1443.1 -3.2 0.0 1895.3 -1.0 1897.4 -1.1 0.0 1484.9 -2.8 1484.0 3.7 0.0 955.8 -6.9 961.6 1.2 0.0 1446.1 -4.0 1449.8 0.3 0.0 44 45 46 47 48 15.4 1.1 59.3 40.9 18.4 33.7 1.1 68.0 40.0 28.1 6.2 1.5 59.4 35.8 23.6 29.2 1.2 76.6 33.3 43.3 26.7 1.0 89.5 63.3 26.2 53.5 1.1 81.4 61.9 19.5 -25.2 -0.2 -38.4 0.9 -39.3 -4.3 2.1 62.6 39.0 23.5 235.4 0.2 40.8 42.6 -1.8 8.3 2.4 260.7 165.1 95.6 182.9 -0.3 1.3 22.3 -21.1 49 50 51 52 53 2.9 22.7 13.1 23.9 83.5 -69.0 -47.2 95.1 -153.5 -170.3 -103.3 54 -3.1 4.6 -5.5 27.5 308.6 -173.2 -318.1 110.4 -192.3 -292.7 172.1 55 41 Net increase in liabilities 42 43 SDR certificates Treasury currency 44 45 46 47 48 Credit market instruments Savings bonds Other Treasury securities Budget agency securities Multifamily residential mortgages 49 50 51 52 53 Trade payables Insurance reserves Miscellaneous liabilities (5) Nonmarketable securities held by pension plans Other 54 Discrepancy 55 Memo: Change in cash balance (6) (1) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. (2) Table F.9, line 60 less line 12. (3) Student loans. (4) Corporate equities purchased from financial businesses under the Troubled Assets Relief Program (TARP) and from GSEs at issuance price. (5) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, and foreign service retirement and disability fund. (6) Time and savings deposits (line 30) plus checkable deposit and currency liabilities of the monetary authority and commercial banking sectors (table F.204, lines 3 and 8). 24 Z.1, June 10, 2010 F.107 Rest of the World Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 1 2 3 4 Foreign income from U.S. U.S. imports U.S. income payments to rest of world Current taxes and trans. payments to rest of world 2253.4 1798.9 357.4 97.1 2618.6 2027.8 475.9 115.0 2990.5 2240.3 648.6 101.5 3242.4 2369.7 746.0 126.6 3347.5 2538.9 667.3 141.4 2578.7 1956.6 484.5 137.6 2498.5 1887.9 479.7 130.9 2454.5 1832.8 478.6 143.0 2589.8 1976.0 469.1 144.8 2772.0 2129.7 510.5 131.8 2884.1 2228.7 507.0 148.5 1 2 3 4 5 6 7 Foreign outlays to U.S. U.S. exports U.S. income receipts from rest of world 1628.8 1180.2 448.6 1878.1 1305.1 573.0 2192.1 1471.0 721.1 2517.7 1655.9 861.8 2640.3 1831.1 809.2 2153.7 1564.2 589.4 2089.0 1509.3 579.6 2065.0 1493.7 571.3 2164.4 1573.8 590.6 2296.3 1680.1 616.2 2373.2 1729.3 643.9 5 6 7 8 9 - Net capital transfers paid (1) Gross saving less net capital transfers paid (2) 2.8 621.8 12.8 727.8 -2.0 800.4 -0.4 725.0 3.1 704.2 -0.3 425.4 -0.3 409.8 -0.3 389.8 -0.4 425.9 -0.4 476.1 -0.3 511.2 8 9 Gross investment Nonproduced nonfinancial assets 531.9 -1.7 710.4 -1.7 803.0 -2.2 659.9 -1.8 503.4 -2.7 223.5 -2.6 134.1 -2.8 245.1 -2.7 337.3 -2.6 177.3 -2.5 457.9 -2.6 10 11 10 11 12 13 Net financial investment Net acquisition of financial assets 533.7 712.1 805.2 661.7 506.0 226.1 136.8 247.8 339.9 179.8 460.5 12 1404.0 1076.0 1835.1 1757.5 614.3 145.1 -568.7 -179.6 1073.1 255.4 1048.0 13 14 15 16 17 18 19 Gold and SDRs (3) Net interbank assets U.S. checkable deposits and currency U.S. time deposits Money market fund shares Security RPs -0.4 8.8 22.4 34.1 4.1 204.9 4.5 -12.3 14.9 6.7 0.1 48.2 -0.2 -9.4 11.4 11.5 4.1 109.4 -0.2 -153.6 -5.4 40.3 19.0 80.2 -0.1 430.2 68.8 45.2 12.3 -524.7 -48.2 -333.2 -0.5 -22.8 -4.0 -1.6 -0.1 -819.0 8.3 -21.8 -4.0 170.0 -0.0 -778.9 -14.0 -27.6 -4.0 -20.6 -190.9 504.0 2.0 -47.3 -4.0 -27.5 -1.9 -238.9 1.9 5.5 -4.0 -128.5 -0.7 -1.9 9.6 -42.6 -4.0 187.0 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 Credit market instruments Open market paper Treasury securities Official Private Agency- and GSE-backed securities Official Private Municipal securities U.S. corporate bonds (4) Loans to U.S. corporate business U.S. corporate equities Mutual fund shares Trade receivables Security credit Miscellaneous assets Foreign direct investment in U.S. (5) Other 854.4 37.0 366.9 273.3 93.6 178.2 93.5 84.7 6.5 259.5 6.3 25.0 32.7 -1.1 0.0 219.0 146.0 73.1 752.0 9.9 245.1 112.8 132.3 134.3 88.5 45.8 3.0 328.5 31.3 56.9 32.2 7.9 0.0 164.8 112.6 52.2 973.6 48.0 150.3 208.6 -58.2 222.7 202.6 20.0 5.4 541.0 6.2 96.2 45.2 5.9 0.0 587.5 243.2 344.4 944.0 -9.6 165.2 98.4 66.8 250.3 237.0 13.3 10.7 424.6 102.7 218.5 38.2 20.8 0.0 555.9 275.8 280.1 383.2 -45.1 674.3 477.7 196.6 -218.1 -8.6 -209.6 -4.1 40.0 -63.7 92.8 5.3 6.1 0.0 95.2 319.7 -224.5 233.2 -42.9 527.7 490.1 37.6 -137.9 -75.6 -62.3 19.6 -108.3 -25.0 122.2 23.7 51.2 0.0 125.2 152.1 -26.9 302.6 -52.9 688.1 473.2 214.9 -236.4 -27.8 -208.6 -4.0 -46.7 -45.5 34.8 1.0 -9.3 0.0 -231.1 96.1 -327.2 181.9 -79.3 403.8 494.9 -91.0 -25.2 -23.0 -2.2 22.3 -109.9 -29.9 122.0 36.4 19.6 0.0 305.6 148.0 157.6 87.5 -16.0 459.1 494.7 -35.6 -195.2 -195.3 0.1 31.7 -152.5 -39.5 198.3 30.3 216.4 0.0 304.4 189.9 114.5 360.6 -23.5 559.9 497.7 62.2 -94.9 -56.2 -38.7 28.3 -124.0 14.8 133.7 27.1 -21.8 0.0 121.8 174.3 -52.5 663.1 10.1 790.2 451.2 339.0 -99.9 16.5 -116.4 45.5 -93.0 10.2 140.0 31.9 182.3 0.0 -116.7 132.1 -248.8 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 870.3 363.9 1029.9 1095.8 108.3 -81.0 -705.5 -427.4 733.2 75.6 587.5 38 -3.2 89.9 -9.6 40.8 -2.6 87.2 -0.0 264.1 4.7 -352.9 4.0 -202.4 3.9 -273.4 14.5 -313.5 5.2 -119.4 -7.5 -103.3 0.3 -78.8 39 40 155.3 69.2 85.8 3.8 1.0 4.5 -1.7 -3.7 0.1 84.8 3.5 0.0 540.1 2.0 -0.0 316.2 222.0 113.0 38.6 64.5 14.5 -2.9 4.7 12.7 -4.6 -0.0 186.7 6.3 0.0 26.7 1.3 -2.2 36.2 -8.6 332.6 98.4 227.8 13.8 -0.7 3.8 10.7 -7.4 -0.1 137.3 6.2 0.0 469.2 2.0 -0.0 244.9 222.2 170.3 -69.3 218.7 24.1 -0.0 8.3 15.8 -3.3 0.1 147.8 12.4 0.0 501.3 1.7 23.9 398.6 77.1 -129.5 -71.0 -62.1 5.1 0.7 2.8 1.6 -1.5 0.0 1.3 -9.9 0.0 594.5 1.4 529.8 332.0 -268.7 199.6 57.8 152.9 -11.2 0.6 -5.1 -6.6 0.0 0.0 68.6 -0.5 0.0 -150.4 1.7 -543.4 221.0 170.4 181.2 64.6 137.5 -19.4 -0.1 -14.9 -4.4 -1.5 0.0 7.3 -11.6 0.0 -613.0 0.6 -975.4 163.6 198.3 192.4 -22.0 219.4 -6.0 1.4 -10.1 2.8 0.9 0.0 150.9 31.8 0.0 -503.4 5.2 -781.1 192.3 80.1 275.2 201.9 83.0 -9.8 2.0 4.8 -16.5 0.0 0.0 104.8 7.3 0.0 460.1 0.3 -231.3 274.1 416.9 149.6 -13.3 171.8 -9.6 -0.9 -0.2 -8.4 0.6 0.0 11.4 -29.3 0.0 54.8 0.6 -185.9 253.8 -13.6 111.6 -27.1 139.6 -1.6 -0.7 10.2 -11.1 0.8 0.0 36.1 -6.1 0.0 524.4 -1.4 -40.8 263.5 303.1 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 89.9 17.4 -2.7 65.2 200.8 201.9 275.7 144.7 88.5 298.8 53.3 58 -618.7 91.2 97.1 -624.6 -722.7 97.1 115.0 -740.5 -769.3 72.4 101.5 -798.4 -713.8 115.7 126.6 -724.7 -707.8 141.9 141.4 -707.2 -392.4 104.9 137.6 -425.0 -378.5 99.9 130.9 -409.5 -339.1 92.6 143.0 -389.5 -402.2 121.5 144.8 -425.5 -449.5 105.7 131.8 -475.7 -499.4 136.9 148.5 -510.9 59 60 61 62 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 Net increase in liabilities U.S. official foreign exchange and net IMF position U.S. private deposits Credit market instruments Commercial paper Bonds Bank loans n.e.c. Official Banks Other U.S. government loans Acceptance liabilities to banks Foreign corporate equities (6) Trade payables Security debt Miscellaneous liabilities U.S. equity in IBRD, etc. Nonofficial foreign currencies U.S. direct investment abroad (4,5) Other Discrepancy (FOF basis) (7) Memo: Net U.S. exports, NIPA basis + Net U.S. income receipts (8) - Current taxes and trans. payments to rest of world = Balance on current account, NIPAs (1) Table F.9, line 63. (2) Line 1 minus line 5 minus line 8; equals net lending or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 62 with the sign reversed minus line 8. (3) U.S. net sales, sign reversed. (4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues. (5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. (6) Includes American Depositary Receipts (ADRs). (7) Balance of payments discrepancy adjusted to NIPA concepts. (8) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP. 25 Z.1, June 10, 2010 F.108 Monetary Authority (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving 3.3 6.3 5.9 4.2 5.1 6.5 3.5 5.3 8.4 8.9 8.9 1 2 Fixed nonresidential investment 3.1 1.9 2.8 3.4 3.3 2.7 2.8 2.7 2.6 2.7 2.7 2 3 Net acquisition of financial assets 44.4 37.4 29.6 43.1 1319.3 -3.4 -589.8 -325.5 562.5 339.2 311.5 3 4 5 6 Gold and foreign exchange SDR certificates Treasury currency 0.3 0.0 1.0 0.3 0.0 0.1 0.3 0.0 1.7 0.5 0.0 0.5 0.6 0.0 -0.0 0.3 3.0 4.0 0.4 0.0 14.3 0.3 0.0 0.7 0.8 12.0 0.5 -0.1 0.0 0.5 0.3 0.0 0.2 4 5 6 7 Federal Reserve float 1.2 -0.0 -1.2 0.3 -1.5 -0.6 -6.3 1.0 1.2 1.8 1.9 7 -0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 48.6 48.6 0.0 511.1 495.4 15.7 -463.1 -447.4 -15.7 -75.5 -30.6 -44.9 -849.2 -870.8 21.6 -485.1 -446.0 -39.2 -442.5 -442.2 -0.2 -340.4 -340.4 0.0 8 9 10 -10.8 13.8 -6.0 5.8 33.5 -80.0 -320.0 0.0 0.0 0.0 0.0 11 51.2 26.4 34.7 -38.3 245.4 1001.6 751.6 1196.1 1224.2 834.5 682.3 12 0.0 51.2 0.0 0.0 26.4 0.0 0.0 34.7 0.0 0.0 -38.3 0.0 0.0 -264.7 19.7 0.0 300.7 1048.5 0.0 88.9 1069.3 0.0 647.4 1088.1 0.0 446.3 1058.0 0.0 20.0 978.8 0.0 26.2 677.7 13 14 15 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 490.4 0.0 0.0 45.5 29.1 38.9 19.5 24.4 333.0 -347.6 47.5 0.0 -45.5 0.1 -16.7 -3.5 -5.9 -323.6 -406.6 18.8 0.0 -100.3 0.1 28.2 -3.5 -0.9 -349.0 -539.3 81.7 0.0 -61.4 0.1 -10.0 -3.7 -6.2 -539.8 -280.1 70.4 0.0 -20.2 0.1 -18.9 -3.6 -11.0 -296.9 -164.4 19.3 0.0 -0.1 0.1 -66.2 -3.2 -5.4 -108.8 -21.6 -1.2 0.0 0.0 0.2 12.8 -2.9 -4.7 -25.7 16 17 18 19 20 21 22 23 24 0.0 1.5 0.0 1.5 0.0 -3.2 0.0 -3.2 0.0 0.1 0.0 0.1 0.0 25.8 24.0 1.8 0.0 530.2 529.7 0.5 25.1 -493.8 -543.5 49.6 0.0 -954.4 -975.2 20.9 0.0 -674.4 -781.3 107.0 0.0 -191.1 -231.3 40.2 100.4 -155.4 -185.9 30.5 1.2 -34.0 -41.1 7.1 25 26 27 28 41.7 36.1 27.2 39.9 1316.7 -8.0 -601.2 -327.3 555.2 341.3 310.2 29 8 9 10 Federal Reserve loans to domestic banks Discount window (2) AMLF (3) 11 Security RPs 12 Credit market instruments 13 14 15 Open market paper Treasury securities Agency- and GSE-backed securities 16 17 18 19 20 21 22 23 24 Bank loans n.e.c. Households (TALF) (4) Rest of world Brokers and dealers (5) Funding corporations (Maiden Lane) (6) Funding corporations (AIG) Funding corporations (Maiden Lane II) (7) Funding corporations (Maiden Lane III) (8) Funding corporations (CPFF) (9) 25 26 27 28 29 Corporate equities (10) Miscellaneous assets Nonofficial foreign currencies (11) Other Net increase in liabilities 30 31 Depository institution reserves Vault cash of commercial banks 1.0 -6.4 -5.0 8.6 -0.3 1.6 2.1 3.3 839.2 2.7 117.0 -2.8 -224.4 7.8 -576.2 -7.8 751.5 14.6 517.0 -25.9 302.9 25.5 30 31 32 Checkable deposits and currency 37.7 30.1 23.5 17.8 428.2 -117.6 -286.3 212.6 -153.7 -243.0 95.1 32 33 34 35 36 Due to federal government Treasury cash holdings Treasury general deposit account Treasury temporary supplementary financing account 0.1 -0.1 0.2 0.0 -1.4 -0.1 -1.3 0.0 0.2 0.1 0.1 0.0 11.4 0.0 11.4 0.0 349.3 0.0 90.0 259.3 -173.8 -0.0 80.5 -254.3 -393.0 0.2 -155.6 -237.6 197.4 0.0 197.3 0.0 -170.8 -0.1 -30.8 -140.0 -328.9 -0.2 311.1 -639.8 100.0 -0.1 -379.8 479.9 33 34 35 36 37 38 39 Due to rest of the world Due to government-sponsored enterprises Currency outside banks -0.1 0.6 37.1 0.0 0.9 30.6 0.0 -1.2 24.5 -0.0 0.9 5.5 1.3 19.4 58.2 1.0 14.0 41.2 -0.9 -0.8 108.3 2.4 -3.6 16.4 0.6 -16.5 33.0 2.0 77.0 6.9 -3.0 -63.2 61.2 37 38 39 40 Security RPs 5.1 -0.3 -0.9 14.4 44.4 -10.6 -71.0 8.3 -15.0 35.3 -79.9 40 41 42 43 Miscellaneous liabilities Federal Reserve Bank stock Other 4.2 3.1 1.2 2.8 1.6 1.1 3.2 1.8 1.4 2.5 3.1 -0.7 2.2 2.6 -0.5 6.1 4.6 1.5 -27.3 5.9 -33.2 35.8 6.8 29.1 -42.2 2.7 -44.9 57.9 2.9 55.0 -33.4 2.5 -35.9 41 42 43 -2.5 3.1 0.7 -2.3 -0.8 -0.7 -10.6 0.8 -1.6 8.4 4.9 44 44 Discrepancy (1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board. (2) Loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit. (3) Loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF). (4) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF). (5) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF. (6) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc. (7) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries. (8) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts. (9) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC. (10) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. (11) Reciprocal currency arrangements (swap lines) with foreign central banks. 26 Z.1, June 10, 2010 F.109 Commercial Banking (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving less net capital transfers paid 87.7 107.5 92.1 54.6 139.6 119.1 99.7 101.8 131.1 143.8 137.5 1 2 Fixed nonresidential investment 57.2 57.5 60.7 71.6 72.6 57.9 56.8 59.2 58.1 57.5 53.4 2 3 Net acquisition of financial assets 855.2 788.2 991.8 933.1 2030.3 -504.3 -1118.2 -634.9 -442.6 178.6 -464.7 3 4 5 6 Vault cash Reserves at Federal Reserve Checkable deposits and currency -6.4 1.1 1.0 8.6 -4.5 -0.5 1.6 0.4 -0.1 3.3 1.5 -0.3 2.7 798.1 0.6 -2.8 92.4 1.0 7.8 -343.6 4.3 -7.8 -587.0 -4.1 14.6 823.9 -1.9 -25.9 476.2 5.5 25.5 214.9 -1.3 4 5 6 7 Total bank credit 604.4 690.3 841.7 791.6 534.2 -470.5 -489.7 -214.9 -929.4 -248.1 -599.7 7 0.0 -24.3 94.8 0.0 -10.7 -5.4 0.0 -2.1 45.9 0.0 17.4 -113.3 15.7 -19.2 147.1 -15.7 92.2 102.0 -44.9 66.0 2.1 21.6 26.0 183.7 -39.2 246.3 -142.0 -0.2 30.6 364.0 0.0 236.2 -22.7 8 9 10 8.1 82.4 16.9 123.4 22.6 93.3 12.7 197.9 23.7 1.7 1.9 -112.7 -9.7 -104.8 29.0 -73.5 -10.0 41.5 -1.6 -313.8 0.0 -260.0 11 12 75.1 339.8 34.9 -5.1 167.8 362.4 2.8 34.8 126.8 445.0 34.2 71.5 335.1 241.4 62.9 32.3 203.4 197.0 74.5 -113.5 -426.7 -22.7 -50.6 -59.9 -450.0 34.6 2.7 -68.0 -391.8 125.9 -35.7 -70.5 -521.6 -343.3 -72.5 -117.0 -343.4 91.9 -96.7 15.9 -251.2 -368.5 61.8 0.1 13 14 15 16 -0.3 -0.9 0.1 -1.8 0.7 3.9 1.6 3.6 2.4 1.3 6.8 14.8 16.0 66.3 -14.5 -15.0 -1.9 30.3 27.6 -22.3 5.7 -1.1 17 18 -0.4 255.5 0.0 94.3 -0.3 148.6 0.0 137.0 -0.2 694.9 0.0 -124.3 0.0 -297.1 0.0 178.9 0.0 -349.8 0.0 -29.1 0.0 -104.1 19 20 8 9 10 Open market paper Treasury securities Agency- and GSE-backed securities 11 12 Municipal securities Corporate and foreign bonds 13 14 15 16 Bank loans n.e.c. Mortgages Consumer credit Security credit 17 18 Corporate equities Mutual fund shares 19 20 Customers’ liab. on acceptances (2) Miscellaneous assets 21 Net increase in liabilities 880.0 645.4 764.7 806.5 1971.4 -366.6 -1159.2 -659.0 291.7 59.9 -476.5 21 22 23 24 25 Net interbank liabilities To monetary authority To domestic banks (3) To foreign banks 24.9 1.2 14.9 8.8 -15.9 -0.0 -3.6 -12.3 -12.5 -1.2 -1.9 -9.4 -102.9 48.9 1.8 -153.6 970.3 509.6 30.6 430.2 -762.5 -463.7 34.4 -333.2 -851.1 -81.9 49.8 -819.0 -1490.0 -848.2 137.1 -778.9 -76.8 -483.9 -96.8 504.0 -632.0 -440.7 47.7 -238.9 -400.3 -338.5 -59.9 -1.9 22 23 24 25 26 27 28 29 Checkable deposits Federal government Rest of the world Private domestic 39.5 -3.2 9.2 33.6 -36.4 7.0 6.4 -49.8 -35.9 -5.9 9.2 -39.2 13.3 14.9 5.2 -6.9 141.4 -39.5 24.9 156.0 85.0 0.3 -14.1 98.8 -209.5 74.2 -38.1 -245.6 197.9 -86.5 -8.7 293.1 137.4 -22.7 -15.4 175.5 213.9 36.3 5.6 172.1 -145.4 71.6 3.5 -220.5 26 27 28 29 30 31 32 Small time and savings deposits Large time deposits Federal funds and security RPs (net) 280.6 192.5 13.1 268.3 243.1 90.3 287.6 264.0 70.5 263.0 297.6 -49.7 541.4 -97.6 -355.7 384.4 -3.0 285.2 436.3 -200.0 -90.8 205.6 -2.0 694.9 377.4 6.9 -59.1 518.3 183.2 595.8 334.0 -380.1 311.6 30 31 32 33 Credit market instruments 78.4 85.1 177.4 263.2 161.1 -199.9 -298.7 -42.4 -152.2 -306.2 -301.5 33 10.6 59.0 8.8 4.0 56.7 24.4 21.4 76.0 80.0 37.9 118.6 106.7 -39.2 129.3 71.0 -18.1 -57.5 -124.2 -91.1 44.0 -251.5 -17.0 21.9 -47.3 14.9 35.7 -202.8 20.6 -331.6 4.7 52.7 -197.4 -156.8 34 35 36 17.6 -1.4 234.8 -13.8 -7.9 32.5 -10.5 -1.1 25.2 -23.7 -13.6 159.3 331.9 -85.7 364.3 78.7 7.1 -241.7 230.3 8.0 -183.9 18.8 -33.1 -208.6 90.8 59.7 -92.3 -25.0 -6.4 -481.8 16.1 -24.8 113.9 37 38 39 55.2 -92.8 -195.7 -143.6 8.0 198.9 2.0 18.6 807.4 -32.4 72.3 40 610.3 0.0 657.1 0.0 765.4 0.0 754.1 -1.8 643.8 -1.7 -432.2 -2.6 -504.0 -1.5 -114.9 -4.3 -840.8 -3.1 -269.3 -1.4 -604.3 2.8 41 42 34 35 36 37 38 39 40 Open market paper Corporate bonds Other loans and advances Corporate equity issues Taxes payable (net) Miscellaneous liabilities Discrepancy Memo: 41 42 Credit market funds advanced (4) Consumer leases not included above (5) (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. 27 Z.1, June 10, 2010 F.110 U.S.-Chartered Commercial Banks Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving less net capital transfers paid (1) 1.8 -4.4 -20.4 -52.6 63.3 40.1 30.1 20.1 39.8 70.4 70.3 1 2 Fixed nonresidential investment 21.1 20.3 23.0 21.7 22.2 16.6 13.8 17.7 17.9 17.0 12.7 2 3 Net acquisition of financial assets 676.3 529.7 787.7 595.9 1245.3 -81.9 -776.9 286.1 -481.4 644.7 -901.1 3 4 Vault cash and reserves at Federal Reserve 5 Total bank credit 6 7 8 9 10 11 Open market paper Treasury securities Agency- and GSE-backed securities Mortgage pass-through securities CMOs and other structured MBS Other 12 13 14 15 16 Municipal securities Corporate and foreign bonds Private mortgage pass-through securities Private CMOs and other structured MBS Other 17 18 19 20 Bank loans n.e.c. Mortgages Consumer credit Security credit 21 22 Corporate equities Mutual fund shares 23 24 25 Customers’ liab. on acceptances (2) Miscellaneous assets Net increase in liabilities -5.2 3.9 2.3 4.4 562.9 44.4 -234.4 -322.2 502.8 231.6 50.9 4 583.4 498.4 685.4 570.3 547.6 -169.7 -127.3 153.6 -757.4 52.2 -548.1 5 0.0 -19.2 89.7 90.3 -4.8 4.2 0.0 -10.1 -3.3 -2.7 -4.4 3.8 0.0 -2.2 47.5 68.8 -5.1 -16.1 0.0 11.1 -111.4 -54.9 -4.4 -52.0 15.7 -19.6 139.7 152.0 14.3 -26.6 -15.7 64.3 131.3 -11.3 58.2 84.4 -44.9 40.7 67.1 -58.6 39.3 86.4 21.6 46.7 205.4 139.7 26.5 39.2 -39.2 165.0 -121.1 -258.6 73.7 63.8 -0.2 4.8 373.9 132.4 93.5 148.1 0.0 224.7 -8.5 -146.3 180.7 -42.9 6 7 8 9 10 11 8.3 58.8 6.7 15.4 36.7 16.7 47.0 5.1 38.2 3.8 21.7 59.1 8.8 12.7 37.6 12.0 101.7 15.5 64.8 21.4 23.2 -30.4 -24.4 -1.5 -4.5 1.0 51.7 2.0 -27.3 76.9 -11.5 123.6 -5.4 -32.6 161.6 31.3 123.4 13.4 -16.8 126.8 -14.5 81.6 5.3 -15.5 91.8 -1.5 -121.9 -5.2 -44.1 -72.6 1.5 -233.5 -11.7 -120.0 -101.7 12 13 14 15 16 67.6 334.0 34.9 10.7 98.7 354.8 2.8 -6.6 62.9 436.8 34.2 20.9 233.7 225.7 62.9 29.3 137.9 190.0 74.5 12.8 -298.1 -16.1 -50.6 -59.2 -343.2 34.0 2.7 -78.1 -266.8 130.2 -35.7 -73.0 -362.2 -333.4 -72.5 -89.5 -220.4 105.0 -96.7 3.9 -241.9 -365.9 61.8 9.2 17 18 19 20 -0.3 -0.9 0.1 -1.8 0.7 3.9 1.6 3.6 2.4 1.3 6.8 14.8 16.0 66.3 -14.5 -15.0 -1.9 30.3 27.6 -22.3 5.7 -1.1 21 22 -0.5 98.5 -0.0 27.4 0.0 100.0 0.0 21.3 0.0 134.8 0.0 43.4 0.0 -415.1 0.0 454.7 0.0 -226.8 0.0 361.0 0.0 -403.9 23 24 757.0 467.2 640.9 545.8 1232.0 91.4 -782.8 302.0 281.1 565.3 -883.1 25 26 27 28 29 30 Net interbank liabilities Federal Reserve float Borrowing from Federal Reserve banks To domestic banking To foreign banks 90.0 1.2 -0.0 33.0 55.8 16.6 -0.0 0.0 0.5 16.1 72.6 -1.2 -0.0 -36.6 110.5 141.4 0.3 48.6 34.5 58.0 786.7 -1.5 511.1 110.8 166.3 -559.4 -0.6 -463.1 -2.3 -93.4 -592.0 -6.3 -75.5 -27.6 -482.6 -594.6 1.0 -849.2 71.1 182.6 -122.6 1.2 -485.1 42.0 319.3 -928.5 1.8 -442.5 -94.8 -393.0 -833.8 1.9 -340.4 -106.9 -388.5 26 27 28 29 30 31 32 33 34 Checkable deposits Federal government Rest of the world Private domestic 38.8 -3.2 9.7 32.3 -36.8 7.0 6.2 -49.9 -36.6 -5.9 9.4 -40.1 9.0 14.9 5.0 -10.9 140.8 -39.5 22.5 157.7 80.9 0.3 -19.9 100.5 -211.8 74.2 -37.1 -248.9 190.6 -86.5 -9.3 286.4 137.3 -22.7 -36.5 196.5 207.6 36.3 3.2 168.1 -147.2 71.6 2.0 -220.9 31 32 33 34 35 36 37 Small time and savings deposits Large time deposits Federal funds and security RPs (net) 279.7 115.6 14.6 262.9 166.8 57.0 277.8 129.9 21.4 255.0 23.1 -36.1 540.2 24.6 -259.0 382.9 -174.0 264.9 439.6 -101.5 -131.2 216.5 -270.1 565.5 366.6 -251.4 -51.6 509.1 -72.9 676.8 322.9 -150.5 198.8 35 36 37 38 39 40 41 42 Open market paper Corporate bonds Other loans and advances Corporate equity issues Taxes payable (net) -0.4 10.4 8.8 5.9 -1.4 -0.0 12.5 24.4 6.2 -7.9 0.0 27.5 80.0 9.3 -1.1 0.0 25.1 106.7 4.3 -13.6 0.0 8.0 71.0 10.4 -85.7 0.0 -48.3 -124.2 10.1 7.1 0.0 -56.2 -251.5 12.7 8.0 0.0 -12.1 -47.3 13.7 -33.1 0.0 -28.2 -202.8 7.7 59.7 0.0 -96.8 4.7 6.4 -6.4 0.0 -141.2 -156.8 15.6 -24.8 38 39 40 41 42 43 44 45 Miscellaneous liabilities Investment by bank holding companies Other 195.2 167.2 28.0 -34.6 40.0 -74.5 60.0 110.0 -50.0 30.9 126.1 -95.2 -5.1 48.2 -53.3 251.4 102.8 148.6 101.1 7.7 93.3 272.9 61.7 211.1 366.4 240.1 126.3 265.4 101.7 163.6 33.9 -19.5 53.4 43 44 45 61.4 -87.3 -190.2 -124.5 27.8 196.8 10.3 18.3 784.4 -25.9 75.6 46 573.5 0.0 506.6 0.0 660.0 0.0 535.7 -1.8 531.1 -1.7 -132.2 -2.6 -131.5 -1.5 256.1 -4.3 -696.2 -3.1 43.0 -1.4 -561.8 2.8 47 48 46 Discrepancy Memo: 47 48 Credit market funds advanced (3) Consumer leases not included above (4) (1) Net capital transfers paid from table F.9, line 53. (2) Included in other loans and advances (table F.216). (3) Total bank credit (line 5) less security credit (line 20) less corporate equities (line 21) less mutual fund shares (line 22) plus customers’ liability on acceptances (line 23). (4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities). The leased automobile is a tangible asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2. 28 Z.1, June 10, 2010 F.111 Foreign Banking Offices in U.S. (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving 3.2 3.3 3.2 3.5 2.4 2.5 2.5 2.5 2.4 2.5 2.4 1 2 Fixed nonresidential investment 4.2 4.0 4.1 4.1 2.7 2.2 2.3 2.2 2.2 2.2 2.2 2 3 Net acquisition of financial assets -112.8 153.9 10.1 219.8 576.5 -356.7 -413.8 -891.9 26.2 -147.4 213.9 3 4 Reserves at Federal Reserve 5 Total bank credit 6 7 8 9 10 Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds 11 12 13 Bank loans n.e.c. Mortgages Security credit 14 Corporate equities 15 16 Customers’ liab. on acceptances (2) Miscellaneous assets -0.1 0.2 -0.3 0.4 238.0 45.1 -101.3 -272.6 335.7 218.7 189.4 4 7.1 185.9 154.6 204.6 -25.4 -281.8 -275.7 -385.5 -181.8 -284.0 -48.4 5 0.0 -5.7 -1.4 0.0 22.4 0.0 0.1 -0.9 0.0 80.6 0.0 -1.0 4.2 0.0 29.8 0.0 3.6 2.0 0.0 77.0 0.0 5.1 -6.6 0.0 32.1 0.0 25.9 -18.4 0.0 -156.7 0.0 37.0 -19.7 0.0 -197.1 0.0 -46.2 -27.5 0.0 -192.2 0.0 93.0 -14.1 0.0 -58.0 0.0 19.9 -12.5 0.0 -179.6 0.0 10.0 1.3 0.0 -37.2 6 7 8 9 10 8.2 -0.6 -15.8 60.7 4.0 41.4 67.1 4.1 50.6 105.0 14.1 3.0 65.1 5.2 -126.3 -125.4 -6.4 -0.8 -106.3 0.3 10.1 -117.6 -4.5 2.5 -164.8 -10.4 -27.5 -112.8 -10.8 12.0 -13.8 0.3 -9.0 11 12 13 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14 0.1 -119.8 0.1 -32.2 -0.3 -143.9 0.0 14.7 -0.2 364.1 0.0 -120.1 0.0 -36.8 0.0 -233.8 0.0 -127.7 0.0 -82.2 0.0 73.0 15 16 17 Net increase in liabilities -112.2 154.6 9.8 222.9 571.8 -355.3 -413.5 -887.1 29.5 -150.2 212.5 17 18 19 20 Net interbank liabilities To foreign banks To domestic banks -66.8 -72.6 5.7 -6.0 -8.8 2.8 -71.3 -78.6 7.2 -191.1 -169.4 -21.7 240.2 244.4 -4.3 -158.5 -175.9 17.5 -241.3 -191.5 -49.8 -780.5 -852.2 71.7 237.3 230.2 7.1 150.6 109.8 40.8 295.2 297.6 -2.5 18 19 20 21 22 23 Checkable deposits Small time and savings deposits Large time deposits -0.8 -0.7 75.4 0.5 0.5 71.4 -0.0 8.6 132.8 2.6 6.9 273.4 1.7 0.1 -123.2 2.6 4.4 173.9 1.0 2.5 -92.8 4.8 -8.3 270.8 -0.6 11.4 258.9 5.2 11.8 258.8 1.0 11.9 -228.8 21 22 23 24 25 Federal funds and security RPs (net) Acceptance liabilities -0.2 0.1 33.4 0.0 49.0 -0.3 -13.6 0.0 -96.3 -0.2 40.3 0.0 40.7 0.0 152.5 0.0 13.8 0.0 -46.0 0.0 128.0 0.0 24 25 26 27 28 29 Miscellaneous liabilities Foreign direct investment in U.S. Due to affiliates Other -119.2 17.9 33.0 -170.1 54.6 9.4 21.0 24.2 -109.0 13.8 8.6 -131.3 144.8 -4.8 43.7 105.9 549.5 20.7 35.6 493.2 -418.0 5.9 -75.7 -348.2 -123.7 -9.9 -29.2 -84.6 -526.4 20.4 -179.5 -367.3 -491.3 11.5 -101.3 -401.5 -530.6 1.7 7.2 -539.5 5.3 7.6 -56.2 53.8 26 27 28 29 -0.4 -0.0 -1.3 2.5 -5.0 1.6 0.5 5.0 3.6 -2.6 -1.2 30 23.0 144.5 103.7 201.7 100.7 -281.0 -285.8 -388.0 -154.3 -295.9 -39.4 31 30 Discrepancy Memo: 31 Credit market funds advanced (3) (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). 29 Z.1, June 10, 2010 F.112 Bank Holding Companies Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving 82.5 108.5 109.1 103.7 73.6 76.4 67.0 79.1 88.7 70.8 64.6 1 2 Fixed nonresidential investment 31.7 32.9 33.4 45.6 47.5 38.9 40.5 39.1 37.9 38.2 38.3 2 3 Net acquisition of financial assets 275.8 94.8 195.2 118.0 210.8 -59.3 79.3 -22.2 12.9 -307.2 236.8 3 -0.0 -4.2 3.3 23.1 13.9 -16.3 -79.8 16.0 4.0 -5.3 14.3 4 -0.8 1.9 1.3 -2.5 -0.9 -2.3 -3.7 2.7 1.4 -0.0 4.9 -2.9 4.6 -1.3 19.1 0.7 -4.0 15.9 -0.0 2.0 2.7 -7.0 -9.1 -2.8 -10.3 -39.0 -30.0 -0.5 25.9 3.0 -9.9 -3.0 -11.5 -0.1 14.5 1.0 6.6 8.0 -11.0 -8.9 -0.2 -7.0 13.0 8.5 5 6 7 8 275.9 167.2 76.2 32.4 99.0 40.0 42.7 16.2 191.8 110.0 46.3 35.6 94.9 126.1 -63.0 31.7 196.9 48.2 54.1 94.5 -43.0 102.8 -185.9 40.0 159.1 7.7 -201.5 352.8 -38.2 61.7 -47.4 -52.5 9.0 240.1 -190.2 -40.9 -302.0 101.7 -304.5 -99.2 222.6 -19.5 313.8 -71.7 9 10 11 12 4 5 6 7 8 9 10 11 12 Credit market instruments Treasury securities Agency- and GSE-backed securities Corporate and foreign bonds Bank loans n.e.c. Miscellaneous assets Investment in bank subsidiaries Investment in nonbank subsidiaries Other 13 Net increase in liabilities 219.6 14.3 115.3 45.4 170.9 -101.6 46.8 -67.2 -42.0 -344.1 206.0 13 14 15 16 Net interbank liabilities To domestic banks To foreign banks 1.7 -23.8 25.6 -26.5 -6.9 -19.6 -13.9 27.4 -41.3 -53.2 -11.0 -42.2 -56.6 -76.0 19.4 -44.6 19.3 -63.9 -17.7 127.2 -145.0 -115.0 -5.7 -109.3 -191.4 -145.9 -45.5 145.9 101.6 44.3 138.4 49.4 89.0 14 15 16 17 Federal funds and security RPs (net) -1.3 -0.2 0.1 0.1 -0.4 -19.9 -0.3 -23.1 -21.4 -34.9 -15.2 17 18 19 20 Credit market instruments Commercial paper Corporate bonds 59.5 10.8 48.7 48.2 4.0 44.2 70.2 21.7 48.5 131.3 37.9 93.5 82.3 -39.0 121.3 -27.3 -18.1 -9.2 9.1 -91.1 100.2 17.0 -17.0 34.0 78.8 14.9 63.8 -214.1 20.6 -234.7 -3.5 52.7 -56.3 18 19 20 21 22 23 24 Corporate equity issues Miscellaneous liabilities Equity, etc. Other 11.7 148.0 129.4 18.6 -20.0 12.8 48.4 -35.6 -19.9 78.7 -13.8 92.5 -28.0 -4.8 -66.6 61.9 321.5 -175.7 52.7 -228.4 68.6 -78.4 5.4 -83.8 217.6 -161.7 118.6 -280.3 5.1 48.9 33.4 15.5 83.1 8.9 19.0 -10.0 -31.4 -209.6 -149.3 -60.3 0.5 85.9 11.6 74.2 21 22 23 24 -5.3 -4.9 -4.2 -14.5 -13.8 -4.8 -6.0 -4.9 -4.2 -4.3 -4.5 25 25 Discrepancy F.113 Banks in U.S.-Affiliated Areas (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Gross saving 0.2 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1 2 Fixed nonresidential investment 0.2 0.2 0.3 0.1 0.2 0.1 0.2 0.1 0.1 0.1 0.1 2 3 Net acquisition of financial assets 15.9 9.8 -1.2 -0.6 -2.3 -6.4 -6.8 -6.8 -0.4 -11.5 -14.4 3 4 Checkable deposits and currency 1.0 -0.5 -0.1 -0.3 0.6 1.0 4.3 -4.1 -1.9 5.5 -1.3 4 5 Credit market instruments 13.9 10.2 -1.7 -6.4 -1.9 -2.8 -6.8 1.0 5.8 -11.1 -17.4 5 1.4 4.7 -0.2 -0.2 0.1 1.2 0.2 -0.5 -0.2 -5.8 0.8 -0.4 -1.9 -2.7 0.7 0.1 -0.6 -2.0 0.5 0.0 -0.7 -3.9 0.9 1.5 -1.4 -6.3 1.8 -1.3 -0.3 2.7 -2.4 5.1 -0.3 -6.7 4.4 3.5 -0.8 -5.3 -0.1 -1.3 1.6 -8.4 -1.5 -2.3 6 7 8 9 1.8 3.4 3.1 5.6 0.7 2.9 -0.3 0.9 3.2 -4.2 4.3 -2.7 -1.7 1.4 0.4 -0.3 -0.3 -0.0 0.0 0.5 -0.2 -4.4 -0.3 0.6 4.4 0.0 0.4 -1.3 -1.3 -1.0 -4.0 -1.5 -1.3 10 11 12 0.9 0.1 0.6 6.1 -1.0 -4.5 -4.3 -3.8 -4.2 -5.9 4.3 13 15.5 9.3 -1.3 -7.7 -3.4 -1.1 -9.6 -6.7 23.1 -11.0 -11.9 14 1.6 1.6 1.6 -0.2 4.9 4.9 0.7 1.2 1.2 1.7 1.1 1.1 -1.1 1.1 1.1 1.4 -2.9 -2.9 1.4 -5.8 -5.8 2.5 -2.6 -2.6 0.7 -0.6 -0.6 1.2 -2.6 -2.6 0.8 -0.8 -0.8 15 16 17 10.8 -0.3 -4.4 -11.6 -4.5 3.3 0.5 -4.0 23.6 -7.0 -11.2 18 -0.5 -0.5 -0.1 -7.1 -1.1 5.3 -2.8 0.1 23.5 0.4 2.5 19 6 7 8 9 10 11 12 13 14 Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Bank loans n.e.c. Home mortgages Commercial mortgages Miscellaneous assets Net increase in liabilities 15 16 17 Checkable deposits Small time and savings deposits Large time deposits 18 Miscellaneous liabilities 19 Discrepancy (1) Commercial banks and branches of U.S.-chartered commercial banks located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas. 30 Z.1, June 10, 2010 F.114 Savings Institutions (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving 6.6 10.1 6.5 10.6 11.2 9.6 5.6 7.8 12.3 12.8 12.8 1 2 Fixed nonresidential investment 4.0 3.7 4.2 3.9 3.1 2.6 2.7 2.6 2.5 2.5 2.5 2 3 Net acquisition of financial assets 184.8 140.9 -74.4 99.6 -290.4 -269.8 64.9 -586.2 -192.7 -365.2 48.0 3 4 5 6 7 Reserves at Federal Reserve Checkable deposits and currency Time and savings deposits Federal funds and security RPs -0.1 -3.5 0.6 -3.2 -0.5 2.4 -0.5 -0.1 -0.7 -3.3 3.9 9.3 0.6 -0.5 3.3 27.3 36.4 -11.2 -1.6 -10.9 6.5 -4.2 7.0 -22.7 40.0 6.0 7.7 -20.8 20.0 -15.5 -0.4 -76.9 -46.0 6.3 29.8 35.9 11.9 -13.5 -9.2 -28.8 39.2 -15.0 15.4 -9.9 4 5 6 7 8 Credit market instruments 103.5 199.4 -78.0 63.0 -276.1 -240.8 -42.0 -420.7 -193.1 -307.1 -13.1 8 9 10 11 12 13 14 Open market paper Treasury securities Agency- and GSE-backed securities Mortgage pass-through securities CMOs and other structured MBS Other 0.0 -3.9 -82.3 0.9 -45.3 -38.0 0.0 4.0 55.8 25.6 7.4 22.9 0.0 4.5 -13.4 -16.3 2.8 0.1 0.0 -5.4 0.3 5.8 -1.5 -4.0 0.0 -4.1 -3.5 1.9 5.6 -11.0 0.0 3.8 27.8 -10.6 16.1 22.3 0.0 2.7 8.3 -10.9 3.4 15.7 0.0 3.9 47.0 -7.8 38.2 16.5 0.0 5.6 38.9 -23.6 11.3 51.2 0.0 3.0 17.1 -0.1 11.4 5.8 0.0 1.5 32.9 6.2 12.6 14.1 9 10 11 12 13 14 15 16 17 18 19 Municipal securities Corporate and foreign bonds Private mortgage pass-through securities Private CMOs and other structured MBS Other 0.8 -12.7 -2.5 -11.0 0.8 1.5 21.0 -0.6 18.1 3.5 2.5 13.2 3.1 7.7 2.5 -0.1 49.5 -4.5 39.5 14.5 -3.3 -33.7 -1.4 -41.9 9.5 1.5 -23.3 -2.4 -30.4 9.5 3.4 17.3 -5.7 -85.0 108.0 0.4 -16.7 -0.1 -33.0 16.3 2.0 -11.2 -4.2 -1.9 -5.1 0.2 -82.7 0.5 -1.8 -81.4 1.4 -13.7 0.3 -9.1 -4.9 15 16 17 18 19 20 21 22 Other loans and advances Mortgages Consumer credit 1.3 186.8 13.4 3.9 95.3 17.8 6.0 -77.2 -13.5 6.2 17.2 -4.8 6.4 -233.4 -4.5 -14.5 -227.3 -8.8 2.6 -51.3 -25.1 -24.8 -413.9 -16.6 -34.6 -202.7 8.9 -1.2 -241.2 -2.3 -1.9 -19.1 -14.2 20 21 22 -1.1 88.6 -1.0 -58.8 -1.0 -4.5 -0.1 6.2 -1.5 -25.4 -0.5 -15.1 1.5 72.5 -2.0 -90.6 -6.3 -19.2 4.7 -23.1 -9.0 40.4 23 24 23 24 Corporate equities Miscellaneous assets 25 Net increase in liabilities 164.9 126.4 -82.6 116.7 -251.8 -269.8 -0.2 -559.7 -198.3 -320.9 31.4 25 26 27 28 29 Deposits Checkable Small time and savings Large time 40.0 0.5 -14.4 54.0 76.6 3.8 34.0 38.8 24.6 0.9 28.9 -5.2 13.2 4.5 27.6 -19.0 -156.0 -2.9 -59.6 -93.5 -53.3 13.1 89.4 -155.8 67.2 -0.5 -8.4 76.0 -80.2 -2.4 -28.4 -49.4 -126.8 58.6 394.6 -579.9 -73.4 -3.2 -0.1 -70.0 11.0 1.4 -2.8 12.4 26 27 28 29 30 Security RPs 2.4 -2.3 -19.2 -24.1 -0.0 1.8 7.2 -33.9 100.5 -66.5 1.0 30 31 32 33 34 Credit market instruments Corporate bonds Bank loans n.e.c. Other loans and advances 91.4 2.5 28.9 60.0 22.5 1.0 5.2 16.2 -108.2 2.0 -44.5 -65.7 104.1 -0.3 13.3 91.1 -67.1 -8.0 13.0 -72.2 -169.6 -0.2 -29.8 -139.6 -82.9 -1.9 -30.2 -50.8 -336.2 0.9 -21.6 -315.5 -95.7 0.7 -66.0 -30.4 -163.4 -0.3 -1.3 -161.9 8.9 -12.4 1.4 19.9 31 32 33 34 35 36 37 38 39 Corporate equities Taxes payable Miscellaneous liabilities Investment by parent Other -0.3 1.0 30.5 3.4 27.1 2.2 0.1 27.3 3.7 23.6 0.8 -0.4 19.7 2.1 17.6 3.3 -2.0 22.2 0.6 21.6 1.7 -0.3 -30.1 6.3 -36.4 1.5 0.3 -50.5 -9.5 -41.1 0.9 1.4 6.1 -30.4 36.5 2.3 -2.3 -109.5 1.1 -110.6 1.4 2.3 -79.9 -1.5 -78.4 1.4 -0.2 -18.7 -7.0 -11.8 0.7 1.0 8.7 3.8 4.9 35 36 37 38 39 -17.3 -8.0 -5.9 23.7 46.7 7.1 -62.2 31.7 4.2 54.6 -6.4 40 40 Discrepancy (1) Savings and loan associations, mutual savings banks, and federal savings banks. 31 Z.1, June 10, 2010 F.115 Credit Unions Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving 8.7 9.1 9.8 8.9 6.9 9.1 6.2 8.4 10.8 10.8 11.8 1 2 Fixed nonresidential investment 3.5 3.5 4.1 3.8 3.7 3.0 3.1 3.0 2.9 3.0 3.0 2 3 Net acquisition of financial assets 37.5 30.9 30.5 42.5 53.8 70.3 128.0 68.6 28.8 55.8 -5.0 3 4 5 6 7 Reserves at Federal Reserve Checkable deposits and currency Time and savings deposits Federal funds and security RPs (net) 0.0 -1.4 -0.7 2.6 0.0 -2.0 -4.5 2.6 0.0 6.2 -4.9 -1.6 0.0 -1.1 -0.0 -2.6 4.7 -5.7 11.4 -4.8 18.1 1.4 9.5 2.4 79.2 -37.0 21.5 -3.0 -9.2 14.5 6.2 13.2 -26.4 29.6 5.1 -3.6 28.9 -1.3 5.1 3.0 48.9 -41.8 29.4 -9.9 4 5 6 7 8 Credit market instruments 39.8 36.2 30.1 35.3 40.0 33.1 17.0 43.2 32.6 39.6 34.2 8 9 10 11 12 Open market paper Treasury securities Agency- and GSE-backed securities Corporate and foreign bonds 0.1 0.1 -1.1 0.6 -0.0 -1.1 -6.8 -1.5 0.2 -0.3 -13.9 7.2 -0.5 3.0 -4.1 3.9 -0.4 -1.6 14.4 -8.9 0.0 5.3 27.9 -7.0 0.0 -2.3 23.6 -32.2 0.0 16.6 24.6 1.4 0.0 2.3 30.9 -0.4 0.0 4.5 32.5 3.1 0.0 0.7 41.6 -0.6 9 10 11 12 13 14 15 Other loans and advances Home mortgages Consumer credit 1.9 28.7 9.5 1.0 31.3 13.2 0.9 30.1 5.9 0.0 31.8 1.2 2.7 33.2 0.5 2.7 3.2 1.0 7.1 22.9 -2.2 3.4 -4.5 1.6 -1.5 -9.7 11.0 1.8 4.1 -6.5 -1.9 22.0 -27.5 13 14 15 -0.9 -1.8 -1.0 -0.3 -0.1 0.8 -0.0 11.0 -0.0 8.4 -0.7 6.4 -1.1 51.3 0.1 0.5 -1.0 -7.6 -0.9 -18.7 0.9 -66.7 16 17 16 17 Mutual fund shares Miscellaneous assets 18 Net increase in liabilities 33.7 27.5 26.0 39.5 54.5 72.6 154.3 52.9 24.7 58.5 -8.8 18 19 20 21 22 Shares/deposits Checkable Small time and savings Large time 29.5 7.6 15.5 6.4 21.6 7.0 12.1 2.5 24.5 -8.5 30.5 2.5 31.7 1.1 25.8 4.8 45.1 1.6 43.0 0.5 72.0 11.6 43.4 17.0 122.6 21.9 69.1 31.6 64.6 -1.2 55.8 10.1 35.6 -4.9 23.3 17.3 65.2 30.8 25.4 9.0 15.0 1.4 10.1 3.4 19 20 21 22 23 24 Other loans and advances Miscellaneous liabilities 2.3 1.9 3.3 2.6 4.2 -2.7 13.4 -5.6 8.3 1.1 -14.1 14.7 -41.2 72.9 -7.2 -4.6 -0.8 -10.1 -7.2 0.6 -4.4 -19.4 23 24 1.5 2.2 1.2 2.1 3.9 8.4 29.3 -10.3 3.8 10.6 5.0 25 25 Discrepancy F.116 Property-Casualty Insurance Companies Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Gross saving less net capital transfers paid (1) 40.3 24.3 63.8 49.2 64.3 40.0 32.4 38.3 43.8 45.4 44.9 1 2 Fixed nonresidential investment 11.4 10.2 10.3 11.5 11.3 9.4 9.5 9.3 9.2 9.5 9.6 2 3 Net acquisition of financial assets 82.0 75.3 64.6 38.9 28.1 29.1 -23.8 54.9 58.8 26.4 15.2 3 4 5 6 Checkable deposits and currency Money market fund shares Security RPs (net) -8.7 -0.9 -0.2 -4.8 -0.7 0.5 8.9 0.7 -0.6 12.8 7.2 2.4 -14.8 12.1 -1.1 -0.3 -3.7 -2.0 -7.8 0.2 -8.2 31.8 -16.4 0.0 -1.3 -3.5 0.0 -23.9 4.9 0.0 -0.5 -20.9 0.0 4 5 6 7 Credit market instruments 86.0 72.8 44.8 5.3 -15.9 34.1 8.9 30.3 39.8 57.4 11.8 7 -1.4 20.3 -3.3 43.6 26.4 0.3 3.5 0.3 5.8 45.4 17.5 0.3 0.6 3.1 4.1 22.1 14.2 0.7 -3.1 -38.7 3.8 36.1 5.9 1.3 5.8 -5.6 -11.5 10.6 -15.4 0.2 -2.1 16.6 1.9 -12.6 30.8 -0.5 0.2 15.4 -2.0 -24.8 20.0 0.2 -9.5 12.4 3.0 -8.6 32.9 0.2 -2.0 17.2 2.7 -10.2 33.1 -1.0 2.9 21.2 4.1 -6.6 37.2 -1.4 -12.2 -4.2 4.3 13.7 11.0 -0.8 8 9 10 11 12 13 -3.9 0.5 -6.1 0.3 2.3 0.5 0.5 -0.5 35.1 -0.4 -2.4 0.1 -17.6 0.0 9.5 0.1 9.7 0.1 -11.3 0.1 -0.0 -0.0 14 15 0.3 9.1 2.4 10.8 4.9 3.1 -1.6 12.8 1.3 11.8 -3.7 7.1 2.8 -2.1 -0.4 -0.0 -7.7 21.6 -9.7 8.9 7.4 17.5 16 17 8 9 10 11 12 13 Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Commercial mortgages 14 15 Corporate equities Mutual fund shares 16 17 Trade receivables Miscellaneous assets 18 Net increase in liabilities 39.5 46.3 42.2 5.4 15.9 -0.2 -53.5 17.6 47.5 -12.3 1.0 18 19 20 21 Corporate equity issues Taxes payable (net) Miscellaneous liabilities -4.0 0.5 43.0 -2.8 -3.1 52.2 -8.5 11.0 39.7 -13.2 -2.4 21.1 0.4 -28.1 43.6 -5.3 5.3 -0.2 -1.4 -12.5 -39.5 -2.2 14.8 5.0 -6.6 24.2 29.9 -10.9 -5.2 3.8 -23.6 13.5 11.1 19 20 21 -13.6 -14.8 31.2 4.2 40.8 1.4 -6.8 -8.2 23.3 -2.8 21.1 22 22 Discrepancy (1) Net capital transfers paid from table F.9, line 50. 32 Z.1, June 10, 2010 F.117 Life Insurance Companies Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving 13.0 11.0 4.0 3.7 9.7 14.8 10.3 12.2 17.9 18.8 19.7 1 2 Fixed nonresidential investment 10.7 9.9 10.8 11.6 11.4 9.5 9.6 9.4 9.3 9.6 9.7 2 3 Net acquisition of financial assets 265.8 184.4 224.9 240.6 172.3 105.7 155.1 -1.1 172.8 96.2 105.0 3 4 5 Checkable deposits and currency Money market fund shares 6.0 4.6 -5.5 -3.7 8.3 9.7 2.3 -1.6 24.4 17.5 -30.3 -5.5 -49.9 14.4 -18.4 -6.6 -6.2 -12.8 -46.5 -17.0 -14.7 -17.9 4 5 6 Credit market instruments 165.2 116.2 67.5 84.8 11.6 178.5 252.1 118.7 180.3 162.9 116.4 6 Open market paper Treasury securities Agency- and GSE-backed securities -10.5 1.7 8.2 -3.0 13.5 11.4 4.3 -7.6 8.8 13.1 -17.3 5.5 -3.4 35.1 -16.7 20.7 70.6 -10.2 23.4 141.7 -29.7 20.2 29.6 4.4 12.3 76.9 -12.2 26.9 34.0 -3.4 -58.0 12.7 25.6 7 8 9 Municipal securities Corporate and foreign bonds Other loans and advances Mortgages 4.0 145.9 3.5 12.4 2.4 74.7 5.0 12.1 4.1 29.7 9.8 18.3 4.8 43.1 13.2 22.4 5.7 -45.5 20.3 16.3 26.3 100.1 -12.6 -16.3 25.5 122.4 -22.2 -8.9 24.9 75.2 -16.3 -19.3 26.7 102.5 -17.8 -8.2 28.1 100.3 5.9 -28.9 5.3 136.4 6.5 -12.2 10 11 12 13 51.5 12.8 65.9 -9.9 71.4 26.9 84.1 31.3 81.8 -10.7 78.1 0.0 69.1 -4.0 87.6 2.0 62.2 1.0 93.6 1.0 44.3 1.0 14 15 7 8 9 10 11 12 13 14 15 16 Corporate equities Mutual fund shares 25.8 21.4 41.1 39.9 47.7 -115.1 -126.5 -184.3 -51.6 -97.8 -24.1 16 17 Net increase in liabilities 226.6 174.9 202.6 198.5 161.7 25.3 48.8 -26.5 103.6 -24.9 92.3 17 18 19 20 21 22 Security RPs (net) Corporate equity issues Other loans and advances Life insurance reserves Pension fund reserves (1) -2.6 -17.3 3.0 32.0 200.4 8.4 -8.0 0.4 14.9 142.1 0.4 -20.0 2.7 64.1 100.5 -1.2 -30.6 14.5 33.0 118.6 -12.5 -10.7 26.2 66.0 65.5 -4.8 -0.9 -6.6 26.7 35.7 -22.9 -6.9 -9.6 66.5 50.1 3.9 8.5 -8.0 6.0 2.2 -3.8 -0.9 -12.0 0.6 43.1 3.8 -4.5 3.2 33.7 47.3 0.8 -7.6 -10.8 15.1 44.3 18 19 20 21 22 23 24 Taxes payable (net) Miscellaneous liabilities 3.1 7.9 -2.6 19.5 4.0 50.9 -3.4 67.6 -19.7 46.8 28.1 -52.9 10.2 -38.6 62.1 -101.2 10.4 66.2 29.5 -137.9 -14.7 65.2 23 24 -36.9 -8.4 -29.1 -50.1 -12.4 -75.1 -105.6 -22.6 -60.6 -111.8 -2.6 25 25 Miscellaneous assets Discrepancy (1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 24). F.118 Private Pension Funds (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Gross saving 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.6 1 2 Fixed nonresidential investment 1.2 1.0 0.9 1.0 1.1 0.9 1.0 0.9 0.9 0.9 0.9 2 3 Net acquisition of financial assets 23.4 32.0 11.8 -18.3 -55.2 -16.7 -62.5 -33.1 24.9 3.8 -18.8 3 4 5 6 7 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 0.1 -4.8 0.6 0.3 0.3 6.3 1.9 1.0 0.4 0.8 3.4 0.8 0.6 4.6 3.4 3.4 0.5 0.3 2.3 7.3 4.2 4.7 0.6 3.1 0.1 6.7 1.4 14.9 -1.4 -1.0 0.5 3.9 10.0 8.0 0.3 16.9 8.0 5.3 0.3 -23.3 9.5 3.9 0.3 0.4 4 5 6 7 8 Credit market instruments 1.1 45.3 58.4 102.5 90.6 111.6 146.0 68.8 130.3 101.1 117.5 8 9 10 11 Open market paper Treasury securities Agency- and GSE-backed securities 1.0 -3.9 11.8 3.0 3.5 16.8 0.2 14.3 16.6 -4.8 38.7 28.2 10.2 15.4 21.3 -10.5 125.8 -49.0 1.6 117.3 -30.2 2.0 89.1 -64.8 -26.5 176.7 -62.3 -19.2 120.1 -38.9 -19.8 123.4 -28.2 9 10 11 12 13 Corporate and foreign bonds Mortgages -7.5 -0.2 22.2 -0.2 27.7 -0.3 39.8 0.7 42.7 0.9 42.8 2.6 55.3 2.0 40.6 1.9 39.5 2.9 35.7 3.4 38.0 4.0 12 13 24.7 36.1 -42.0 29.7 -86.5 33.1 -188.3 38.1 -184.6 17.2 -175.6 13.1 -234.6 5.2 -188.5 19.1 -168.2 16.5 -111.0 11.4 -135.0 27.7 14 15 14 15 Corporate equities Mutual fund shares 16 17 18 19 Miscellaneous assets Unallocated insurance contracts (2) Contributions receivable Other -34.7 -35.2 -3.1 3.6 -10.4 -1.4 -1.9 -7.1 1.3 -1.5 -2.0 4.8 17.5 26.3 4.4 -13.2 11.3 38.2 0.7 -27.6 21.6 10.1 2.5 9.0 -2.2 14.6 3.5 -20.3 65.5 20.1 18.2 27.2 11.2 -3.8 -7.0 21.9 12.1 9.6 -4.6 7.1 -43.2 -27.7 -2.2 -13.3 16 17 18 19 20 Pension fund reserves (liabilities) (3) 24.1 32.5 12.1 -17.7 -54.6 -16.4 -62.2 -32.8 25.2 4.1 -18.6 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. 33 Z.1, June 10, 2010 F.119 State and Local Government Employee Retirement Funds Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving 0.5 0.5 0.6 0.8 0.9 1.0 1.0 1.0 0.9 0.9 0.9 1 2 Fixed nonresidential investment 1.3 1.0 1.1 1.9 2.3 1.8 2.0 1.9 1.8 1.7 1.7 2 3 Net acquisition of financial assets 23.8 5.4 45.5 0.8 17.0 -17.3 -20.5 -13.4 -2.5 -32.9 -28.5 3 4 5 6 7 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 2.5 0.6 -1.9 -3.2 -0.4 -0.1 0.1 -0.6 -2.7 -0.5 2.1 4.5 4.8 -0.1 -1.4 -2.5 -0.2 -0.0 1.9 1.8 -0.2 -0.0 -0.1 -0.2 -0.6 -0.0 -0.5 -0.8 0.2 0.0 0.2 0.3 0.1 0.0 0.1 0.1 -0.3 -0.0 -0.3 -0.5 -0.1 -0.0 -0.1 -0.2 4 5 6 7 8 Credit market instruments 17.8 18.1 114.6 12.3 13.3 -15.4 -26.0 -12.8 -18.6 -4.3 -3.6 8 9 10 11 Open market paper Treasury securities Agency- and GSE-backed securities -6.5 2.4 23.7 0.1 2.8 -0.4 7.6 2.4 49.4 -4.4 -14.6 23.3 -12.5 4.8 6.3 -3.2 28.1 -37.6 -0.9 15.3 -30.9 -7.4 38.6 -43.1 0.1 29.5 -37.8 -4.5 28.9 -38.5 -8.2 28.4 -36.4 9 10 11 12 13 14 Municipal securities Corporate and foreign bonds Mortgages -2.6 6.0 -5.3 -0.2 14.5 1.3 1.6 55.5 -2.0 -0.8 13.6 -4.7 -1.0 15.9 -0.3 0.0 -2.7 -0.1 0.1 -9.3 -0.3 0.0 -1.1 0.1 0.0 -10.3 -0.2 0.1 9.9 -0.2 0.0 12.6 -0.0 12 13 14 15 16 Corporate equities Mutual fund shares 1.9 1.5 -5.6 -5.5 -70.0 -3.4 -6.4 -5.2 1.2 -1.1 -1.7 -0.2 7.0 1.0 -1.4 -0.2 12.2 1.9 -24.6 -3.6 -21.8 -3.2 15 16 17 Miscellaneous assets 4.6 -0.6 1.0 -0.6 -0.0 0.5 -0.6 0.4 1.8 0.7 0.6 17 24.6 6.0 46.1 1.9 18.4 -16.4 -19.4 -12.5 -1.7 -32.1 -27.8 18 18 Pension fund reserves (liabilities) (1) (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; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 6 7 8 Net acquisition of financial assets Credit market instruments Treasury securities Agency- and GSE-backed securities Corporate and foreign bonds Corporate equities Miscellaneous assets(2) Pension fund reserves (liabilities) (3) 54.7 54.7 50.4 47.8 78.9 78.2 14.5 56.6 55.0 186.5 37.3 1 4.7 7.7 8.4 11.7 24.2 7.4 16.8 1.0 4.1 7.9 6.5 2 5.4 -0.5 -0.3 7.8 0.0 -0.0 8.3 0.1 -0.0 11.3 0.3 0.1 24.2 0.0 -0.1 6.8 0.6 0.1 17.5 -0.3 -0.4 0.8 0.3 -0.1 2.2 1.3 0.5 6.7 1.0 0.2 5.8 0.5 0.2 3 4 5 9.1 40.9 7.0 40.0 6.3 35.8 2.7 33.3 -8.6 63.3 8.8 61.9 -3.2 0.9 16.6 39.0 8.3 42.6 13.5 165.1 8.4 22.3 6 7 54.7 54.7 50.4 47.8 78.9 78.2 14.5 56.6 55.0 186.5 37.3 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. 34 Z.1, June 10, 2010 F.121 Money Market Mutual Funds (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Net acquisition of financial assets -136.5 127.0 305.3 720.9 724.2 -498.7 100.3 -497.9 -961.7 -635.3 -1129.2 1 2 3 4 5 Foreign deposits Checkable deposits and currency Time and savings deposits Security RPs 7.0 2.7 0.4 -18.7 16.2 -1.4 15.7 112.0 -10.6 7.5 23.7 48.7 43.2 -4.8 63.9 211.3 2.0 5.6 84.6 -63.5 -32.2 10.4 218.0 -62.5 -198.2 49.2 423.9 141.7 53.4 -80.6 329.6 -320.7 41.9 21.3 -22.7 40.3 -25.7 51.9 141.2 -111.2 -18.7 -21.5 -257.4 -84.9 2 3 4 5 -124.9 -54.1 -33.9 -61.1 21.8 2.3 -5.5 86.3 -9.6 -107.4 23.0 2.2 220.0 116.1 -5.9 -28.7 33.5 105.1 375.6 66.3 95.5 104.5 100.7 8.5 738.6 -56.1 399.5 520.3 23.6 -148.8 -643.7 -107.8 -171.3 -213.2 -93.3 -58.1 -325.7 -93.0 -253.6 122.5 -60.9 -40.8 -480.0 -196.4 -64.4 -150.7 -68.8 0.5 -1025.7 -31.7 -260.4 -398.2 -136.0 -199.4 -743.5 -110.3 -106.8 -426.3 -107.4 7.3 -715.4 -173.8 -149.8 -270.6 -143.8 22.7 6 7 8 9 10 11 6 7 8 9 10 11 12 13 Credit market instruments Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Miscellaneous assets Net share issues (liabilities) -2.9 -10.0 15.9 31.8 -43.1 11.3 9.4 0.4 -16.7 52.0 -31.4 12 -136.5 127.0 305.3 720.9 724.2 -498.7 100.3 -497.9 -961.7 -635.3 -1129.2 13 (1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.117). F.122 Mutual Funds (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Gross saving 2 Net acquisition of financial assets 3 Security RPs 3.6 21.1 11.4 21.6 20.6 27.8 7.8 19.5 40.3 43.4 43.8 1 298.2 260.2 336.8 364.7 31.0 491.8 -94.7 774.5 675.9 611.4 537.5 2 18.1 2.8 17.4 -0.6 -7.4 28.6 -84.7 72.2 59.0 67.7 -7.3 3 4 5 6 7 8 9 10 Credit market instruments Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Other loans and advances 116.6 18.0 4.8 15.2 4.1 64.9 9.6 124.1 2.9 6.6 20.8 17.4 65.9 10.5 184.9 17.4 5.0 15.7 32.7 104.3 9.8 271.1 -0.4 18.5 66.2 27.8 123.0 36.1 73.3 -62.5 8.7 27.3 17.4 69.9 12.4 380.7 28.6 67.6 46.4 90.6 146.2 1.3 159.9 -93.1 20.6 -18.3 68.7 179.7 2.3 469.1 74.9 36.8 115.2 95.8 144.6 1.8 412.7 55.1 49.5 72.5 113.2 121.0 1.4 481.2 77.5 163.5 16.3 84.6 139.6 -0.3 481.5 -22.8 53.4 167.4 82.1 201.8 -0.4 4 5 6 7 8 9 10 11 12 Corporate equities Miscellaneous assets 158.5 5.1 129.6 3.7 131.3 3.3 91.3 2.8 -38.1 3.2 87.6 -5.1 -154.2 -15.8 228.4 4.9 197.3 7.0 78.9 -16.5 63.4 -0.0 11 12 298.2 260.2 336.8 364.7 31.0 491.8 -94.7 774.5 675.9 611.4 537.5 13 3.6 21.1 11.4 21.6 20.6 27.8 7.8 19.5 40.3 43.4 43.8 14 13 Net share issues (liabilities) 14 Discrepancy (1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.117). F.123 Closed-End and Exchange-Traded Funds Billions of dollars; quarterly figures are seasonally adjusted annual rates Closed-end funds 1 2 3 4 5 6 7 Net acquisition of financial assets Credit market instruments Treasury securities Municipal securities Corporate and foreign bonds Corporate equities Net share issues (liabilities) 32.7 20.7 8.2 17.8 -57.6 6.8 7.1 12.4 -1.0 8.7 -3.2 1 11.0 2.3 -0.1 8.9 21.7 2.2 0.3 0.2 1.7 18.5 6.0 0.2 0.0 5.7 2.2 -0.9 -1.7 1.9 -1.0 18.7 -39.7 -2.4 -12.8 -24.5 -17.9 10.3 1.2 3.3 5.8 -3.5 1.1 0.3 4.8 -4.0 6.0 17.5 1.6 5.1 10.8 -5.1 13.6 0.9 3.6 9.2 -14.6 9.1 2.0 -0.2 7.3 -0.4 9.4 2.5 0.6 6.2 -12.6 2 3 4 5 6 32.7 20.7 8.2 17.8 -57.6 6.8 7.1 12.4 -1.0 8.7 -3.2 7 56.4 56.7 74.0 150.5 177.2 116.5 -9.9 152.6 108.4 214.7 27.9 8 3.8 2.8 0.0 1.0 52.6 6.8 4.8 0.0 1.9 50.0 5.7 3.4 0.0 2.4 68.3 13.3 6.6 0.6 6.2 137.2 23.0 7.4 1.7 13.9 154.2 46.0 14.7 3.6 27.6 70.5 48.1 18.4 3.3 26.4 -58.0 45.9 15.7 3.6 26.6 106.7 44.0 12.2 4.4 27.4 64.4 45.8 12.5 3.3 30.1 168.9 41.2 18.4 2.6 20.2 -13.3 9 10 11 12 13 56.4 56.7 74.0 150.5 177.2 116.5 -9.9 152.6 108.4 214.7 27.9 14 Exchange-traded funds 8 9 10 11 12 13 14 Net acquisition of financial assets Credit market instruments Treasury securities Municipal securities Corporate and foreign bonds Corporate equities Net share issues (liabilities) 35 Z.1, June 10, 2010 F.124 Government-Sponsored Enterprises (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving 3.8 4.2 4.0 4.7 6.3 7.8 3.5 6.0 10.5 11.2 11.2 1 2 Fixed nonresidential investment 0.6 0.7 0.7 1.3 2.0 1.7 1.7 1.7 1.6 1.6 1.6 2 3 Net acquisition of financial assets 88.5 -63.5 53.5 301.4 225.7 -386.2 6.5 -550.6 -565.6 -435.0 -246.4 3 4 5 6 Checkable deposits and currency Time and savings deposits Federal funds and security RPs (net) 10.4 6.5 18.3 -24.5 12.1 14.1 1.8 -1.5 9.7 -2.7 12.8 25.3 39.7 21.9 -28.2 11.1 -42.8 7.6 -17.0 -20.5 179.4 -12.3 12.9 -228.5 26.1 -145.4 56.2 47.5 -18.0 23.4 -1.6 -18.0 187.1 4 5 6 7 Credit market instruments 48.9 -69.1 46.6 239.0 239.1 -344.9 -164.6 -377.7 -392.0 -445.2 -93.4 7 -0.9 -0.6 -202.4 8.0 0.2 -135.4 18.5 1.2 -37.1 -4.7 1.3 -11.1 14.1 1.2 207.0 3.0 5.1 -27.4 17.8 3.2 175.9 3.2 6.8 -19.8 -9.5 9.0 -118.3 0.3 1.4 -147.5 -4.5 153.0 -180.4 8 9 10 0.3 192.0 -4.9 50.9 -3.6 16.1 -2.8 -17.4 -2.0 -77.7 -2.2 -33.8 -1.4 -76.6 -1.9 67.3 -2.9 3.4 -2.5 -129.3 -4.2 55.8 11 12 8 9 10 Open market paper Treasury securities Agency- and GSE-backed securities 11 12 Municipal securities Corporate and foreign bonds 13 14 15 16 Other loans and advances Sallie Mae Farm Credit System FHLB loans 73.5 -0.3 -0.2 74.1 52.4 0.0 8.1 44.4 33.1 0.0 11.9 21.2 237.7 0.0 11.9 225.8 38.1 0.0 4.8 33.3 -284.8 0.0 -0.2 -284.6 -350.1 0.0 3.0 -353.1 -377.1 0.0 0.9 -378.0 -256.3 0.0 -10.3 -246.0 -155.6 0.0 5.5 -161.2 -157.6 0.0 -5.5 -152.1 13 14 15 16 17 18 19 20 21 Mortgages Home Multifamily residential Farm Consumer credit (2) 7.5 -10.5 14.3 3.8 -20.6 -40.2 -54.7 10.5 4.0 0.0 18.4 3.7 12.4 2.2 0.0 35.9 -9.7 42.3 3.3 0.0 58.3 9.1 40.0 9.3 0.0 -4.7 -18.4 10.1 3.6 0.0 66.7 50.8 12.7 3.1 0.0 -56.1 -72.8 13.1 3.5 0.0 -17.4 -34.6 13.3 4.0 0.0 -11.9 -16.9 1.3 3.7 0.0 44.5 22.1 20.1 2.4 0.0 17 18 19 20 21 22 23 Miscellaneous assets Net increase in liabilities 24 25 26 Credit market instruments GSE issues (3) U.S. government loans 27 Corporate equities 28 Miscellaneous liabilities 29 Discrepancy 4.5 4.0 -3.2 27.0 -46.7 -17.2 29.3 55.0 -110.4 -42.8 -320.6 22 76.4 -81.7 48.3 325.6 340.3 -321.0 59.3 -570.1 -485.1 -288.2 4.1 23 75.0 75.0 0.0 -84.0 -84.0 0.0 35.6 35.6 0.0 282.4 282.4 0.0 271.7 271.7 0.0 -475.3 -475.3 0.0 -254.5 -254.5 0.0 -680.9 -680.9 0.0 -590.3 -590.3 0.0 -375.7 -375.7 0.0 -84.4 -84.4 0.0 24 25 26 9.3 4.2 1.1 25.5 27.6 96.0 182.2 101.9 41.7 58.2 58.6 27 -7.9 -1.9 11.6 17.7 41.0 58.3 131.6 8.8 63.5 29.3 29.9 28 -9.0 -14.8 -1.8 27.7 118.9 71.3 54.6 -15.1 89.3 156.4 260.1 29 (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. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.125) are consolidated on Fannie Mae’s and Freddie Mac’s balance sheets. (2) 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; quarterly figures are seasonally adjusted annual rates 1 Net acquisition of financial assets 40.8 164.5 292.6 623.3 497.0 415.0 302.6 545.1 482.7 329.5 67.8 1 2 3 4 5 Home mortgages Multifamily residential mortgages Commercial mortgages Farm mortgages 43.8 -3.0 0.0 -0.1 169.0 -4.5 0.0 -0.1 302.8 -12.5 0.0 2.3 622.6 -0.7 0.0 1.4 492.2 4.6 0.0 0.1 402.5 12.6 0.0 -0.2 298.6 4.2 0.0 -0.2 530.4 14.9 0.0 -0.2 469.5 13.4 0.0 -0.3 311.5 18.0 0.0 -0.1 67.1 3.3 0.0 -2.6 2 3 4 5 40.8 164.5 292.6 623.3 497.0 415.0 302.6 545.1 482.7 329.5 67.8 6 6 Net increase in pool securities (liabilities)(2) (1) GNMA, Fannie Mae, Freddie Mac, FAMC, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie Mae’s and Freddie Mac’s balance sheets (table F.124). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agencyand GSE-backed CMOs and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans. (2) Such issues are classified as agency- and GSE-backed securities. 36 Z.1, June 10, 2010 F.126 Issuers of Asset-Backed Securities (ABS) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving 1.0 0.9 0.8 0.7 0.6 0.5 0.5 0.5 0.5 0.5 0.5 1 2 Fixed nonresidential investment 0.3 0.3 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2 3 Net acquisition of financial assets 440.1 730.1 808.3 336.4 -411.4 -716.1 -775.7 -704.3 -722.6 -661.8 -526.8 3 5.2 -5.6 18.9 19.7 -32.9 20.2 28.7 19.2 65.0 21.0 17.8 88.6 -12.3 -29.0 37.9 -16.5 -194.3 -51.1 -14.8 -230.5 -79.3 -19.3 -131.6 -65.8 -16.8 -224.6 -70.1 -15.1 -190.5 10.8 -15.8 -138.1 -9.8 4 5 6 4 5 6 Treasury securities Agency- and GSE-backed securities (1) Other loans and advances 7 8 9 10 Mortgages (2) Home Multifamily residential Commercial 434.5 382.2 6.5 45.8 687.5 573.3 16.6 97.6 635.7 518.9 14.0 102.9 183.0 33.4 22.1 127.5 -354.5 -313.4 -11.0 -30.2 -378.5 -333.7 -6.2 -38.6 -352.3 -333.1 -6.2 -13.0 -413.2 -386.2 -3.0 -24.0 -365.3 -342.4 -7.0 -15.9 -383.3 -273.2 -8.6 -101.5 -252.3 -221.8 -3.7 -26.7 7 8 9 10 11 12 Consumer credit Trade credit -23.2 10.3 38.4 -2.8 51.2 8.5 22.6 3.4 -37.3 -16.1 -41.3 -34.5 -61.3 -37.6 -40.5 -33.9 -6.2 -39.6 -57.0 -26.8 -84.3 -26.5 11 12 13 Net increase in liabilities 439.3 729.4 807.8 335.9 -411.8 -716.5 -776.1 -704.7 -722.9 -662.1 -527.1 13 14 15 Commercial paper Corporate bonds (net) (5) -3.9 443.2 148.3 581.1 162.9 644.8 -194.2 530.2 -83.9 -328.0 -266.7 -449.7 -213.0 -563.1 -282.2 -422.4 -291.5 -431.4 -280.1 -382.0 -54.5 -472.6 14 15 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 16 -0.7 59.6 -0.6 17.3 -0.5 2.8 -0.5 -17.9 -0.4 -41.7 -0.4 -13.0 -0.4 -15.2 -0.4 -10.6 -0.4 -4.2 -0.3 -22.1 -0.3 20.5 17 18 16 Discrepancy 17 18 Memo: Securitized assets not included above Consumer leases (3) REIT assets (4) (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; quarterly figures are seasonally adjusted annual rates 1 Gross saving 62.8 60.7 60.4 67.3 57.2 76.9 52.1 70.0 91.5 94.0 94.0 1 2 Fixed nonresidential investment 42.2 45.9 44.6 47.7 42.6 35.4 36.0 35.2 34.7 35.7 36.2 2 3 Net acquisition of financial assets 178.5 99.0 34.3 19.9 -59.5 -189.2 -46.1 -107.1 -206.0 -397.5 -263.1 3 4 5 Checkable deposits and currency Time and savings deposits -0.8 -1.8 -8.9 -9.1 -1.6 -4.8 0.4 1.2 0.3 0.8 0.5 1.6 2.5 7.5 1.7 5.2 -1.7 -5.0 -0.4 -1.3 -4.4 -13.3 4 5 207.2 -7.7 9.8 105.8 99.3 64.7 -52.5 27.6 65.4 24.2 71.0 -18.7 18.9 53.0 17.8 16.6 4.5 24.9 -62.5 49.7 -72.3 3.0 16.9 -84.0 -8.3 -223.3 6.3 -91.0 -50.5 -88.0 -130.1 29.3 -85.1 -9.9 -64.4 -178.3 20.2 -103.7 -23.6 -71.2 -187.3 -19.4 -28.2 -70.7 -69.0 -397.4 -5.1 -147.0 -97.9 -147.5 -189.6 -51.9 -41.5 -38.3 -58.0 6 7 8 9 10 6 7 8 9 10 11 12 Credit market instruments Corporate and foreign bonds Other loans and advances Mortgages Consumer credit Miscellaneous assets Net increase in liabilities -26.1 52.2 -30.2 1.7 11.8 31.9 74.0 64.3 -12.1 1.7 -55.8 11 189.4 63.5 48.5 26.5 -69.1 -250.2 -115.5 -258.5 -241.9 -385.0 -270.8 12 13 14 15 16 17 Credit market instruments Open market paper Corporate bonds Bank loans n.e.c. Other loans and advances 134.3 30.2 74.1 30.0 0.0 33.5 -15.3 43.6 5.2 0.0 34.8 5.3 42.4 -12.9 0.0 34.9 -15.1 -2.8 52.8 0.0 -79.4 -22.6 -49.6 -7.1 0.0 -156.2 -38.8 -87.0 -30.4 0.0 -168.3 -82.0 -70.5 -20.5 4.7 -168.9 -10.3 -200.8 41.4 0.8 -142.5 -44.3 -9.4 -83.4 -5.5 -145.1 -18.6 -67.2 -59.2 0.0 -312.3 36.8 -284.6 -64.5 0.0 13 14 15 16 17 18 19 20 21 22 Taxes payable Miscellaneous liabilities Foreign direct investment in U.S. Investment by parent Other 1.8 53.2 13.0 54.9 -14.7 1.9 28.2 6.3 25.5 -3.7 0.0 13.7 5.2 26.2 -17.8 -1.5 -6.9 -5.1 -13.4 11.5 -0.1 10.4 17.4 -8.4 1.4 -2.8 -91.2 7.2 -32.6 -65.8 -0.3 53.1 0.6 -39.5 91.9 -3.2 -86.4 17.6 -72.6 -31.4 -3.1 -96.2 5.9 -23.1 -79.0 -4.5 -235.5 4.7 4.7 -244.9 -0.4 42.0 2.5 -12.4 52.0 18 19 20 21 22 23 Discrepancy 31.5 -20.7 29.9 26.1 4.9 -19.5 -53.2 -116.5 20.9 70.8 50.1 23 24 Memo: Consumer leases not included above (2) -4.9 11.2 20.6 16.9 -11.8 -25.7 -37.2 -31.1 -15.1 -19.4 -30.8 24 (1) Includes retail captive finance companies and mortgage companies. (2) See footnote (3), table F.126. 37 Z.1, June 10, 2010 F.128 Real Estate Investment Trusts (REITs) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 Gross saving 2 3 Fixed nonresidential investment Multifamily residential investment 4 Net acquisition of financial assets 5 Checkable deposits and currency 6 Credit market instruments 7 8 9 10 11 12 13 14 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 -3.0 -18.3 -10.6 -20.0 -32.3 -31.8 -31.2 -31.8 -31.9 -32.2 -31.2 1 6.9 5.5 7.5 2.5 6.6 3.5 9.0 -9.3 9.6 0.1 7.6 -0.1 8.4 1.1 7.8 -0.6 7.3 -0.9 7.0 0.0 6.7 6.2 2 3 101.6 53.9 38.8 -27.3 -62.7 1.4 -8.0 33.5 25.4 -45.4 29.8 4 3.0 1.4 4.9 -1.8 1.8 8.1 -3.7 18.2 23.6 -5.7 -5.1 5 87.5 41.0 26.1 -21.2 -63.9 1.7 -1.4 31.4 2.3 -25.7 28.3 6 Agency- and GSE-backed securities Corporate and foreign bonds 15.8 17.1 -4.0 17.0 24.8 11.6 23.5 -30.2 1.6 -20.0 15.3 3.1 19.2 -2.9 34.7 6.9 17.8 6.2 -10.4 2.2 15.6 7.1 7 8 Mortgages Home Multifamily residential Commercial 54.6 50.9 0.1 3.5 28.1 24.6 0.3 3.2 -10.3 -23.7 3.1 10.3 -14.5 -24.5 0.2 9.9 -45.5 -42.5 -1.3 -1.7 -16.7 -9.1 -2.1 -5.6 -17.6 -12.1 -1.0 -4.6 -10.2 -3.5 -1.6 -5.1 -21.7 -5.2 -5.2 -11.3 -17.5 -15.7 -0.4 -1.3 5.6 6.4 -0.4 -0.4 9 10 11 12 11.1 11.6 7.8 -4.4 -0.7 -8.4 -2.9 -16.1 -0.5 -14.0 6.6 13 152.8 88.9 59.9 24.5 -50.7 -17.9 -62.5 22.8 11.4 -43.3 49.1 14 Miscellaneous assets Net increase in liabilities 15 Security RPs 28.7 13.2 14.4 -6.2 -11.2 14.6 10.8 9.2 30.8 7.7 -3.3 15 16 Credit market instruments 94.6 55.4 15.5 10.2 -48.6 -33.9 -34.3 -46.2 -18.9 -36.2 19.4 16 0.0 61.9 7.2 25.5 0.0 32.8 8.4 14.1 0.0 13.9 -5.0 6.6 0.0 0.7 4.8 4.7 0.0 -55.1 -0.3 6.8 0.0 -25.2 -12.1 3.4 0.0 -31.8 -8.0 5.6 0.0 -29.0 -26.7 9.5 0.0 -5.9 -11.6 -1.4 0.0 -34.0 -2.0 -0.1 0.0 25.8 -8.6 2.2 17 18 19 20 21.5 8.1 16.1 4.3 22.2 7.8 17.1 3.4 12.8 -3.7 24.2 -22.8 9.2 -48.2 55.6 4.2 22.9 -23.3 9.2 -24.0 10.8 22.2 21 22 17 18 19 20 21 22 Open market paper Corporate bonds Bank loans n.e.c. Mortgages Corporate equity issues Miscellaneous liabilities 23 Discrepancy 35.8 6.7 0.4 32.0 -29.9 -58.5 -95.2 -49.7 -52.2 -37.1 -24.9 23 24 25 26 27 28 Memo: Securitized assets included above Agency- and GSE-backed securities Home mortgages Multifamily residential mortgages Commercial mortgages 59.6 0.0 57.9 -0.0 1.7 17.3 0.0 15.7 0.1 1.6 2.8 0.0 -9.8 0.3 12.3 -17.9 0.0 -20.2 -0.0 2.4 -41.7 0.0 -35.6 -0.0 -6.1 -13.0 0.0 -8.6 -0.0 -4.4 -15.2 0.0 -12.9 -0.0 -2.2 -10.6 0.0 -4.6 -0.0 -6.0 -4.2 0.0 8.2 -0.0 -12.4 -22.1 0.0 -25.1 -0.0 3.0 20.5 0.0 12.0 0.0 8.4 24 25 26 27 28 38 Z.1, June 10, 2010 F.129 Security Brokers and Dealers Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Gross saving 20.9 11.1 21.0 -8.3 -23.0 30.9 23.5 32.1 34.1 33.7 39.5 1 2 Fixed nonresidential investment 12.8 12.3 15.8 22.2 22.6 18.8 19.1 18.7 18.4 19.0 19.2 2 3 Net acquisition of financial assets 231.9 282.2 614.7 350.3 -874.8 -133.0 -1107.6 576.0 115.3 -115.5 55.7 3 15.7 -29.2 -1.3 -82.4 23.5 7.1 18.7 5.2 15.2 81.5 148.6 -6.4 82.3 12.2 -20.0 -6.3 10.9 77.7 7.7 20.1 -31.6 217.7 24.0 106.2 4.1 -2.4 37.0 8.0 39.8 19.8 -0.2 59.7 425.1 24.5 219.7 22.8 7.1 152.2 -0.7 27.3 11.1 25.4 33.4 47.3 15.1 -85.7 -21.4 250.6 -47.5 -11.4 -259.0 3.1 -28.5 -160.7 -615.1 -29.4 -192.1 -24.2 -67.6 -131.8 -3.3 47.5 -12.7 -4.6 38.1 54.9 -67.7 -610.4 -63.3 -355.5 -82.7 -0.0 -86.2 -22.7 -59.5 -122.3 -247.9 -44.5 313.1 45.5 392.5 -179.0 -1.7 73.3 -17.5 -20.1 53.6 274.0 -40.4 -401.4 -46.9 -339.3 -142.6 14.3 126.8 -13.7 16.0 104.4 436.7 35.2 -69.8 -32.0 31.7 -122.8 -25.9 76.1 3.0 45.3 116.9 -243.0 -2.6 -6.6 -12.2 -76.7 66.5 19.6 -7.7 3.8 -77.0 -26.5 168.4 4 5 6 7 8 9 10 11 12 13 14 227.1 273.9 585.9 385.3 -699.5 -197.2 -959.7 331.1 -51.7 -108.5 -6.4 15 36.5 15.2 15.2 0.0 206.7 0.1 0.1 0.0 338.3 6.4 6.4 0.0 75.5 -4.0 -4.0 0.0 -560.3 77.7 32.3 45.5 -57.5 -49.7 -4.2 -45.5 -623.7 -160.4 -60.1 -100.3 234.4 -1.0 60.4 -61.4 97.5 7.4 27.6 -20.2 61.9 -44.8 -44.7 -0.1 -101.0 -2.8 -2.8 0.0 16 17 18 19 2.6 7.8 97.9 103.0 -5.1 0.4 70.8 3.1 26.5 41.2 -4.2 3.3 7.0 31.8 -3.0 34.8 -0.1 26.2 -2.6 115.1 -86.2 -1.2 -7.6 5.2 151.8 80.4 71.5 0.7 97.8 -5.1 61.5 41.4 -6.8 32.3 -2.4 243.0 210.8 32.3 -0.6 39.1 1.9 -37.1 74.4 2.4 120.2 -24.7 -237.3 -123.8 -113.5 0.3 -87.0 39.5 74.0 -200.5 11.5 -32.4 48.9 -134.0 -74.1 -59.9 3.2 27.5 11.2 -155.6 171.8 -3.2 139.1 106.5 -373.3 -305.2 -68.0 0.8 -68.3 11.0 -75.5 -3.9 19.5 -137.1 26.9 -106.8 -36.2 -70.5 7.3 328.1 5.0 -90.3 413.5 -20.7 -129.2 49.6 -59.3 57.7 -117.0 7.0 -15.1 0.7 -243.7 228.0 -9.6 -2.5 12.6 3.3 -12.6 15.9 -2.1 -134.8 28.2 -212.9 49.8 -2.1 -52.5 -31.5 44.0 43.9 0.1 -5.4 152.6 19.3 309.5 -176.2 -9.7 20 21 22 23 24 25 26 27 28 29 30 3.4 -9.5 -23.6 4.5 129.7 -52.2 152.3 -231.5 -151.3 21.7 -41.9 31 4 5 6 7 8 9 10 11 12 13 14 15 Checkable deposits and currency Credit market instruments Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Other loans and advances Corporate equities Security credit Miscellaneous assets Net increase in liabilities 16 17 18 19 Security RPs (net) Credit market instruments Corporate bonds Bank loans n.e.c. (1) 20 21 22 23 24 25 26 27 28 29 30 Corporate equity issues Trade payables Security credit Customer credit balances (HH) From banks Taxes payable Miscellaneous liabilities Foreign direct investment in U.S. Due to affiliates Other Proprietors’ net investment 31 Discrepancy (1) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF). F.130 Funding Corporations (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Net acquisition of financial assets Money market fund shares Security RPs Credit market instruments Open market paper Corporate and foreign bonds Other loans and advances Corporate equities (2) Miscellaneous assets Investment in foreign banking offices Investment in brokers and dealers Net increase in liabilities Credit market instruments Open market paper Corporate bonds Bank loans n.e.c. (3) Other loans and advances (4) Corporate equities (5) Miscellaneous liabilities Foreign direct investment in U.S. Securities loaned (net) Equity interest under PPIP Other (net) 11.5 157.6 121.9 386.9 973.6 -367.0 -58.8 -1085.6 -297.8 -25.9 -409.6 1 -104.1 0.0 74.1 88.9 -14.5 -0.3 0.0 41.5 33.0 8.4 37.1 0.0 52.7 78.4 -29.4 3.6 0.0 67.9 21.0 46.9 41.9 0.0 48.2 51.8 -7.1 3.4 0.0 31.9 8.6 23.3 327.1 0.0 -57.1 -173.4 109.6 6.7 0.0 116.9 43.7 73.2 279.5 0.0 652.0 139.7 497.3 15.1 0.0 42.1 35.6 6.4 -146.0 0.1 -177.3 -248.2 80.6 -9.8 25.1 -68.9 -75.7 6.8 -7.8 0.4 -86.6 -271.7 202.6 -17.4 0.0 35.2 -29.2 64.4 -237.5 0.0 -589.3 -548.7 -27.1 -13.4 0.0 -258.9 -179.5 -79.4 -197.7 0.0 45.6 -40.8 97.0 -10.5 0.0 -145.7 -101.3 -44.4 -141.0 0.0 -79.1 -131.5 50.0 2.3 100.4 93.8 7.2 86.6 -550.9 0.0 195.0 143.0 49.0 2.9 1.2 -55.0 -56.2 1.2 2 3 4 5 6 7 8 9 10 11 11.5 157.6 121.9 386.9 973.6 -367.0 -58.8 -1085.6 -297.8 -25.9 -409.6 12 -2.9 -15.2 12.2 0.0 0.0 0.0 14.4 0.3 86.9 0.0 -72.7 104.7 77.1 27.6 0.0 0.0 0.0 52.9 0.6 174.9 0.0 -122.6 28.3 6.7 21.6 0.0 0.0 0.0 93.6 0.6 302.6 0.0 -209.6 111.6 60.1 51.5 0.0 0.0 0.0 275.3 0.6 -2.1 0.0 276.8 466.4 20.1 1.4 444.9 0.0 40.0 467.1 0.6 -353.2 0.0 819.8 -432.8 -123.1 37.9 -349.6 2.0 30.5 35.3 0.6 -30.2 2.4 62.5 -418.5 -187.7 93.8 -325.1 0.4 0.0 359.7 0.6 -339.3 0.0 698.4 -842.6 -256.2 -26.7 -559.6 0.0 4.6 -247.6 0.6 165.9 0.0 -414.2 -433.7 -109.6 6.1 -330.3 0.0 8.2 127.7 0.6 182.2 0.0 -55.1 -36.4 61.2 78.4 -183.5 7.6 109.0 -98.4 0.6 -129.6 9.6 21.0 -189.0 -216.3 36.4 -20.4 11.3 10.0 -230.7 0.6 -68.3 13.4 -176.4 13 14 15 16 17 18 19 20 21 22 23 (1) Funding subsidiaries, nonbank financial holding companies, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities, and funds associated with the Public-Private Investment Program (PPIP). (2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. (3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG). (4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP. (5) Preferred shares issued by AIG to the federal goverment under the Troubled Assets Relief Program (TARP) program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC. 39 Z.1, June 10, 2010 F.200 Gold and Official Foreign Exchange Holdings (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 2 3 4 5 6 7 8 9 10 11 Total U.S. reserves U.S. gold stock and SDRs Federal govt.: Exchange Stab. Fund Monetary authority (2) U.S. foreign exchange position Official foreign currency holdings Treasury Monetary authority Net IMF position Federal government Monetary authority Q2 Q3 Q4 2010 Q1 -2.8 -14.1 -2.4 0.1 4.8 52.3 3.9 14.5 196.1 -5.5 1.0 1 0.4 -4.5 0.2 0.2 0.1 48.2 0.1 0.0 190.9 1.9 0.7 2 0.4 0.0 -4.5 -0.0 0.2 -0.0 0.2 0.0 0.1 0.0 48.2 0.0 0.1 0.0 0.0 0.0 190.9 0.0 1.9 0.0 0.7 0.0 3 4 -3.2 -9.6 -2.6 -0.0 4.7 4.0 3.9 14.5 5.2 -7.5 0.3 5 0.6 0.3 0.3 0.6 0.3 0.3 0.7 0.4 0.4 1.0 0.5 0.5 1.3 0.6 0.6 0.7 0.3 0.3 0.9 0.4 0.4 0.6 0.3 0.3 0.8 0.4 0.4 0.5 0.2 0.2 0.6 0.3 0.3 6 7 8 -3.8 -3.8 -0.0 -10.2 -10.2 0.0 -3.3 -3.3 -0.0 -1.0 -1.0 0.0 3.5 3.5 -0.0 3.4 3.4 0.0 3.0 3.0 0.0 13.9 14.0 -0.0 4.4 4.0 0.4 -7.9 -7.6 -0.4 -0.2 -0.2 0.0 9 10 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; quarterly figures are seasonally adjusted annual rates SDR certificates: 1 2 Liab: Federal government Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.0 3.0 0.0 0.0 0.0 0.0 12.0 12.0 0.0 0.0 0.0 0.0 1 2 Treasury currency: 3 4 Liab: Federal government Asset: Monetary authority 0.7 1.0 0.8 0.1 0.6 1.7 -0.7 0.5 -0.8 -0.0 -0.4 4.0 -0.0 14.3 -0.0 0.7 -1.0 0.5 -0.4 0.5 0.0 0.2 3 4 5 Discrepancy (seigniorage) -0.3 0.7 -1.1 -1.2 -0.8 -4.4 -14.4 -0.7 -1.5 -0.9 -0.2 5 F.202 U.S. Deposits in Foreign Countries Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 Total rest of the world liability Held by: Household sector Nonfinancial corporate business Money market mutual funds Discrepancy--unallocated assets 89.9 40.8 87.2 264.1 -352.9 -202.4 -273.4 -313.5 -119.4 -103.3 -78.8 1 5.4 15.6 7.0 2.4 9.9 16.2 5.2 -14.2 -10.6 15.8 0.9 43.2 -21.2 -25.1 2.0 -12.1 23.9 -32.2 -16.4 5.8 -198.2 -18.8 65.4 53.4 -7.2 2.1 41.9 -6.2 22.4 -25.7 1.5 -7.8 -18.7 2 3 4 61.9 12.3 106.8 204.2 -308.7 -182.0 -64.6 -413.5 -156.2 -93.8 -53.8 5 40 Z.1, June 10, 2010 F.203 Net Interbank Transactions Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 19.4 -12.4 -11.3 -97.5 1812.3 -648.3 -1067.6 -2074.1 689.3 -140.8 -72.0 1 2 3 4 Monetary authority Depository institution reserves Vault cash -5.4 1.0 -6.4 3.6 -5.0 8.6 1.3 -0.3 1.6 5.4 2.1 3.3 842.0 839.2 2.7 114.2 117.0 -2.8 -216.5 -224.4 7.8 -584.0 -576.2 -7.8 766.1 751.5 14.6 491.2 517.0 -25.9 328.3 302.9 25.5 2 3 4 5 6 Commercial banking To monetary authority 24.9 1.2 -15.9 -0.0 -12.5 -1.2 -102.9 48.9 970.3 509.6 -762.5 -463.7 -851.1 -81.9 -1490.0 -848.2 -76.8 -483.9 -632.0 -440.7 -400.3 -338.5 5 6 8.8 -12.3 -9.4 -153.6 430.2 -333.2 -819.0 -778.9 504.0 -238.9 -1.9 7 7 Net change in liabilities 2005 To banks in foreign countries 8 9 10 11 Liabilities, net U.S.-chartered commercial banks Due to foreign affiliates - Due from foreign affiliates 14.0 60.7 33.8 -26.8 -24.7 3.5 20.2 16.8 -9.1 111.4 98.8 -12.6 -147.0 63.9 64.2 0.3 436.3 172.9 131.5 -41.4 -343.3 -108.6 -20.0 88.6 -843.3 -506.9 -234.4 272.5 -794.1 167.4 5.2 -162.2 498.6 292.9 276.3 -16.6 -234.5 -387.8 -127.1 260.8 15.9 -379.4 6.7 386.1 8 9 10 11 12 13 14 Foreign banking offices in U.S. Due to foreign affiliates - Due from foreign affiliates -72.2 77.0 149.2 -8.6 59.6 68.2 -79.2 190.6 269.8 -168.8 4.5 173.3 244.0 7.4 -236.6 -170.8 2.3 173.2 -191.4 -83.6 107.8 -852.3 -238.7 613.5 251.2 337.6 86.3 109.1 -6.0 -115.0 306.3 152.5 -153.8 12 13 14 15 16 17 Bank holding companies Due to foreign affiliates - Due from foreign affiliates 25.6 19.8 -5.8 -19.6 9.2 28.9 -41.3 -22.6 18.7 -42.2 31.9 74.1 19.4 92.0 72.6 -63.9 -15.7 48.2 -145.0 -124.3 20.7 -109.3 -7.8 101.4 -45.5 69.7 115.2 44.3 -0.3 -44.5 89.0 -33.9 -122.8 15 16 17 18 19 20 Less: Deposits at foreign banks U.S.-chartered commercial banks Foreign banking offices in U.S. 5.2 4.9 0.3 -12.4 -12.6 0.2 0.3 0.9 -0.6 6.6 6.0 0.6 6.2 6.6 -0.4 -10.1 -15.2 5.1 -24.3 -24.3 0.1 -15.2 -15.1 -0.0 -5.4 -26.4 21.0 4.5 5.2 -0.7 17.8 9.1 8.7 18 19 20 14.9 -3.6 -1.9 1.8 30.6 34.4 49.8 137.1 -96.8 47.7 -59.9 21 33.0 33.6 18.4 0.2 14.9 0.5 -11.2 -7.2 -0.4 -3.6 -36.6 12.8 14.8 -0.1 -1.9 34.5 16.5 15.4 -0.7 1.8 110.8 -16.9 -47.3 -0.1 30.6 -2.3 7.8 -22.2 -4.4 34.4 -27.6 33.4 -16.7 0.2 49.8 71.1 119.1 -13.6 -4.4 137.1 42.0 -53.7 -28.4 71.5 -96.8 -94.8 -67.4 -30.1 -85.0 47.7 -106.9 -37.9 18.8 3.2 -59.9 22 23 24 25 26 24.2 -23.6 -4.3 -7.4 22.1 27.3 -6.3 -11.7 -51.6 -76.1 -4.7 14.9 -66.5 127.4 58.2 -10.1 -21.3 -74.4 10.7 16.6 16.3 52.6 27 28 5.7 24.2 18.4 2.8 -4.3 -7.2 7.2 22.1 14.8 -21.7 -6.3 15.4 -4.3 -51.6 -47.3 17.5 -4.7 -22.2 -49.8 -66.5 -16.7 71.7 58.2 -13.6 7.1 -21.3 -28.4 40.8 10.7 -30.1 -2.5 16.3 18.8 29 30 31 -23.8 -23.6 0.2 -6.9 -7.4 -0.4 27.4 27.3 -0.1 -11.0 -11.7 -0.7 -76.0 -76.1 -0.1 19.3 14.9 -4.4 127.2 127.4 0.2 -5.7 -10.1 -4.4 -145.9 -74.4 71.5 101.6 16.6 -85.0 49.4 52.6 3.2 32 33 34 4.6 -8.8 -9.3 -99.3 1781.7 -682.7 -1117.4 -2211.1 786.2 -188.5 -12.0 35 8.8 -12.3 -9.4 -153.6 430.2 -333.2 -819.0 -778.9 504.0 -238.9 -1.9 36 -4.2 3.5 0.1 54.2 1351.5 -349.5 -298.4 -1432.2 282.2 50.5 -10.1 37 21 22 23 24 25 26 27 28 To U.S. banking, net U.S.-chartered commercial banks Liabilities To foreign offices in U.S. To bank holding companies Unallocated Less, due from: Foreign offices in U.S. Bank holding companies 29 30 31 Foreign banking offices in U.S. Due to U.S. banks - Due from U.S. banks 32 33 34 Bank holding companies Due to U.S. banks - Due from U.S. banks 35 Net change in assets 36 Rest of the world 37 Domestic 38 39 40 Monetary authority Federal Reserve float Loans to member banks 1.2 1.2 -0.0 -0.0 -0.0 0.0 -1.2 -1.2 -0.0 48.9 0.3 48.6 509.6 -1.5 511.1 -463.7 -0.6 -463.1 -81.9 -6.3 -75.5 -848.2 1.0 -849.2 -483.9 1.2 -485.1 -440.7 1.8 -442.5 -338.5 1.9 -340.4 38 39 40 41 42 43 Commercial banking Reserves at Federal Reserve Vault cash -5.3 1.1 -6.4 4.1 -4.5 8.6 2.0 0.4 1.6 4.8 1.5 3.3 800.9 798.1 2.7 89.6 92.4 -2.8 -335.7 -343.6 7.8 -594.8 -587.0 -7.8 838.5 823.9 14.6 450.3 476.2 -25.9 240.3 214.9 25.5 41 42 43 44 45 Savings insts.: Reserves at Fed. Res. Credit unions: Reserves at Fed. Res. -0.1 0.0 -0.5 0.0 -0.7 0.0 0.6 0.0 36.4 4.7 6.5 18.1 40.0 79.2 20.0 -9.2 -46.0 -26.4 11.9 28.9 39.2 48.9 44 45 14.9 -3.6 -1.9 1.8 30.6 34.4 49.8 137.1 -96.8 47.7 -59.9 46 46 Discrepancy--floats, etc. 41 Z.1, June 10, 2010 F.204 Checkable Deposits and Currency Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 Q3 Q4 2010 Q1 85.4 4.4 -19.9 36.7 568.4 -7.9 -474.4 406.9 37.4 -1.5 -47.5 1 Monetary authority Federal government cash and deposits Due to government-sponsored enterprises Deposits due to foreign Currency outside banks 37.7 0.1 0.6 -0.1 37.1 30.1 -1.4 0.9 0.0 30.6 23.5 0.2 -1.2 0.0 24.5 17.8 11.4 0.9 -0.0 5.5 428.2 349.3 19.4 1.3 58.2 -117.6 -173.8 14.0 1.0 41.2 -286.3 -393.0 -0.8 -0.9 108.3 212.6 197.4 -3.6 2.4 16.4 -153.7 -170.8 -16.5 0.6 33.0 -243.0 -328.9 77.0 2.0 6.9 95.1 100.0 -63.2 -3.0 61.2 2 3 4 5 6 7 8 9 10 Commercial banking Federal government deposits Deposits due to foreign Private domestic deposits 39.5 -3.2 9.2 33.6 -36.4 7.0 6.4 -49.8 -35.9 -5.9 9.2 -39.2 13.3 14.9 5.2 -6.9 141.4 -39.5 24.9 156.0 85.0 0.3 -14.1 98.8 -209.5 74.2 -38.1 -245.6 197.9 -86.5 -8.7 293.1 137.4 -22.7 -15.4 175.5 213.9 36.3 5.6 172.1 -145.4 71.6 3.5 -220.5 7 8 9 10 11 12 Savings institutions Credit unions 0.5 7.6 3.8 7.0 0.9 -8.5 4.5 1.1 -2.9 1.6 13.1 11.6 -0.5 21.9 -2.4 -1.2 58.6 -4.9 -3.2 30.8 1.4 1.4 11 12 13 Net change in assets 85.4 4.4 -19.9 36.7 568.4 -7.9 -474.4 406.9 37.4 -1.5 -47.5 13 14 Household sector -54.3 -127.2 -43.8 -71.8 194.2 16.3 -89.6 137.0 12.4 5.2 -347.2 14 15 16 17 18 Nonfinancial business Corporate Nonfarm noncorporate Farm 109.9 2.5 106.3 1.0 150.5 73.6 76.3 0.7 -41.6 -116.9 73.1 2.1 58.4 -9.0 65.7 1.8 -67.2 -89.8 21.6 0.9 159.0 195.7 -36.8 0.2 64.8 93.7 -29.0 0.2 168.0 204.4 -36.5 0.2 201.0 244.3 -43.5 0.2 202.4 240.4 -38.2 0.2 234.7 274.1 -39.2 -0.1 15 16 17 18 19 20 State and local governments Federal government -6.8 -31.0 9.5 12.2 5.4 -2.7 -4.8 25.1 8.5 313.1 19.4 -174.2 -16.2 -338.3 114.7 105.9 -45.7 -183.5 24.6 -281.0 -11.2 151.5 19 20 21 22 23 Rest of the world Checkable deposits Currency 22.4 9.1 13.3 14.9 6.4 8.4 11.4 9.2 2.2 -5.4 5.2 -10.7 68.8 26.1 42.7 -0.5 -13.1 12.6 8.3 -39.0 47.3 -14.0 -6.3 -7.7 2.0 -14.7 16.7 1.9 7.6 -5.7 9.6 0.5 9.1 21 22 23 24 Financial sectors 27.1 -50.5 54.3 34.2 56.1 -27.6 -121.6 -110.5 65.4 56.3 -99.1 24 2 3 4 5 6 Net change in liabilities Q2 25 26 27 Commercial banking Savings institutions Credit unions 1.0 -3.5 -1.4 -0.5 2.4 -2.0 -0.1 -3.3 6.2 -0.3 -0.5 -1.1 0.6 -11.2 -5.7 1.0 -4.2 1.4 4.3 6.0 -37.0 -4.1 -15.5 14.5 -1.9 6.3 29.6 5.5 -13.5 -1.3 -1.3 -15.0 -41.8 25 26 27 28 29 30 31 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds -8.7 6.0 0.1 2.5 -4.8 -5.5 0.3 -0.4 8.9 8.3 0.4 -2.7 12.8 2.3 0.6 4.8 -14.8 24.4 0.5 -0.2 -0.3 -30.3 4.2 -0.2 -7.8 -49.9 0.1 -0.6 31.8 -18.4 -1.4 0.2 -1.3 -6.2 10.0 0.1 -23.9 -46.5 8.0 -0.3 -0.5 -14.7 9.5 -0.1 28 29 30 31 32 33 34 35 36 Money market mutual funds Government-sponsored enterprises Finance companies REITs Brokers and dealers 2.7 10.4 -0.8 3.0 15.7 -1.4 -24.5 -8.9 1.4 -6.4 7.5 1.8 -1.6 4.9 24.0 -4.8 -2.7 0.4 -1.8 24.5 5.6 39.7 0.3 1.8 15.1 10.4 11.1 0.5 8.1 -29.4 49.2 -17.0 2.5 -3.7 -67.7 -80.6 -12.3 1.7 18.2 -44.5 21.3 26.1 -1.7 23.6 -40.4 51.9 47.5 -0.4 -5.7 35.2 -21.5 -1.6 -4.4 -5.1 -2.6 32 33 34 35 36 18.2 -4.9 -3.0 1.0 -5.2 -0.3 18.1 5.8 -14.2 -10.9 14.3 37 37 Mail float 42 Z.1, June 10, 2010 F.205 Time and Savings Deposits Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 2 Net change in liabilities Small time and savings deposits Q2 Q3 Q4 2010 Q1 534.4 598.9 608.2 599.9 334.2 375.4 404.7 191.6 239.4 665.8 -23.0 1 281.6 314.4 347.0 316.4 524.8 517.2 497.0 233.0 795.2 543.6 341.3 2 3 4 5 6 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Banks in U.S.-affiliated areas 280.6 279.7 -0.7 1.6 268.3 262.9 0.5 4.9 287.6 277.8 8.6 1.2 263.0 255.0 6.9 1.1 541.4 540.2 0.1 1.1 384.4 382.9 4.4 -2.9 436.3 439.6 2.5 -5.8 205.6 216.5 -8.3 -2.6 377.4 366.6 11.4 -0.6 518.3 509.1 11.8 -2.6 334.0 322.9 11.9 -0.8 3 4 5 6 7 8 Savings institutions Credit unions -14.4 15.5 34.0 12.1 28.9 30.5 27.6 25.8 -59.6 43.0 89.4 43.4 -8.4 69.1 -28.4 55.8 394.6 23.3 -0.1 25.4 -2.8 10.1 7 8 9 Large time deposits (1) 252.9 284.4 261.2 283.4 -190.6 -141.8 -92.3 -41.3 -555.8 122.2 -364.3 9 192.5 115.6 75.4 1.6 243.1 166.8 71.4 4.9 264.0 129.9 132.8 1.2 297.6 23.1 273.4 1.1 -97.6 24.6 -123.2 1.1 -3.0 -174.0 173.9 -2.9 -200.0 -101.5 -92.8 -5.8 -2.0 -270.1 270.8 -2.6 6.9 -251.4 258.9 -0.6 183.2 -72.9 258.8 -2.6 -380.1 -150.5 -228.8 -0.8 10 11 12 13 54.0 6.4 38.8 2.5 -5.2 2.5 -19.0 4.8 -93.5 0.5 -155.8 17.0 76.0 31.6 -49.4 10.1 -579.9 17.3 -70.0 9.0 12.4 3.4 14 15 10 11 12 13 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Banks in U.S.-affiliated areas 14 15 Savings institutions Credit unions 16 Net change in assets 534.4 598.9 608.2 599.9 334.2 375.4 404.7 191.6 239.4 665.8 -23.0 16 17 Household sector 463.5 487.1 486.5 477.2 179.5 47.4 -123.7 -125.2 -39.9 478.4 209.1 17 18 19 20 Nonfinancial business Corporate Nonfarm noncorporate 24.5 37.7 -13.2 73.4 49.9 23.5 66.9 46.6 20.3 -40.7 -55.7 14.9 -25.7 -54.3 28.7 141.6 168.4 -26.8 39.6 60.8 -21.1 17.3 43.9 -26.6 444.7 476.3 -31.6 64.9 92.7 -27.8 14.0 42.5 -28.5 18 19 20 21 22 23 State and local governments Federal government Rest of the world 11.6 -0.0 34.1 12.8 -1.0 6.7 26.2 0.2 11.5 36.4 1.2 40.3 19.1 -1.3 45.2 10.8 0.3 -22.8 63.0 0.6 -21.8 -24.8 -0.5 -27.6 11.1 1.2 -47.3 -6.0 -0.0 5.5 36.1 0.4 -42.6 21 22 23 24 Financial sectors 0.7 19.9 16.8 85.6 117.3 198.0 446.8 352.4 -130.3 123.0 -239.9 24 25 26 Savings institutions Credit unions 0.6 -0.7 -0.5 -4.5 3.9 -4.9 3.3 -0.0 -1.6 11.4 7.0 9.5 7.7 21.5 -0.4 6.2 29.8 5.1 -9.2 5.1 15.4 29.4 25 26 27 28 Private pension funds State and local govt. retirement funds -4.8 0.6 6.3 -0.1 0.8 -0.5 4.6 -0.1 0.3 -0.0 4.7 -0.0 6.7 -0.0 -1.0 0.0 8.0 0.0 5.3 -0.0 3.9 -0.0 27 28 29 30 31 Money market mutual funds Government-sponsored enterprises Finance companies 0.4 6.5 -1.8 15.7 12.1 -9.1 23.7 -1.5 -4.8 63.9 12.8 1.2 84.6 21.9 0.8 218.0 -42.8 1.6 423.9 -20.5 7.5 329.6 12.9 5.2 -22.7 -145.4 -5.0 141.2 -18.0 -1.3 -257.4 -18.0 -13.3 29 30 31 (1) Large time deposits are those issued in amounts of $100,000 or more. F.206 Money Market Mutual Fund Shares Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net issues -136.5 127.0 305.3 720.9 724.2 -498.7 100.3 -497.9 -961.7 -635.3 -1129.2 1 2 Net purchases -136.5 127.0 305.3 720.9 724.2 -498.7 100.3 -497.9 -961.7 -635.3 -1129.2 2 -56.1 10.3 2.9 3.9 4.1 45.2 39.6 2.4 5.1 0.1 165.2 68.1 3.2 6.8 4.1 232.2 128.1 2.2 4.9 19.0 235.2 158.2 4.4 0.7 12.3 -268.6 -71.8 -5.5 6.1 -4.0 68.6 19.4 -4.4 13.0 -4.0 -165.7 -60.8 -5.5 -2.1 -4.0 -577.9 -167.9 -6.5 8.4 -4.0 -399.4 -78.0 -5.7 4.9 -4.0 -264.0 -270.0 -5.9 4.2 -4.0 3 4 5 6 7 -0.9 4.6 0.6 -1.9 -104.1 -0.7 -3.7 1.9 0.1 37.1 0.7 9.7 3.4 2.1 41.9 7.2 -1.6 3.4 -1.4 327.1 12.1 17.5 2.3 1.9 279.5 -3.7 -5.5 0.6 -0.1 -146.0 0.2 14.4 1.4 -0.5 -7.8 -16.4 -6.6 0.5 0.2 -237.5 -3.5 -12.8 0.3 0.1 -197.7 4.9 -17.0 0.3 -0.3 -141.0 -20.9 -17.9 0.3 -0.1 -550.9 8 9 10 11 12 3 4 5 6 7 8 9 10 11 12 Household sector Nonfinancial corporate business Nonfarm noncorporate business State and local governments Rest of the world Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Funding corporations 43 Z.1, June 10, 2010 F.207 Federal Funds and Security Repurchase Agreements Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2 3 4 5 6 7 8 9 10 11 Net change in liabilities 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 83.1 316.0 403.4 8.6 -895.4 228.8 -790.5 916.9 150.7 638.0 129.2 1 Monetary authority Commercial banking (net) U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies 5.1 13.1 14.6 -0.2 -1.3 -0.3 90.3 57.0 33.4 -0.2 -0.9 70.5 21.4 49.0 0.1 14.4 -49.7 -36.1 -13.6 0.1 44.4 -355.7 -259.0 -96.3 -0.4 -10.6 285.2 264.9 40.3 -19.9 -71.0 -90.8 -131.2 40.7 -0.3 8.3 694.9 565.5 152.5 -23.1 -15.0 -59.1 -51.6 13.8 -21.4 35.3 595.8 676.8 -46.0 -34.9 -79.9 311.6 198.8 128.0 -15.2 2 3 4 5 6 Savings institutions Life insurance companies (net) REITs Brokers and dealers (net) 2.4 -2.6 28.7 36.5 -2.3 8.4 13.2 206.7 -19.2 0.4 14.4 338.3 -24.1 -1.2 -6.2 75.5 -0.0 -12.5 -11.2 -560.3 1.8 -4.8 14.6 -57.5 7.2 -22.9 10.8 -623.7 -33.9 3.9 9.2 234.4 100.5 -3.8 30.8 97.5 -66.5 3.8 7.7 61.9 1.0 0.8 -3.3 -101.0 7 8 9 10 216.3 212.5 205.9 352.1 -597.1 -112.9 86.3 -549.8 198.5 -186.6 269.9 11 Net change in assets 12 13 14 Nonfinancial corporate business State and local governments Rest of the world 0.4 7.7 204.9 8.1 10.0 48.2 1.0 13.5 109.4 -7.5 9.7 80.2 -0.5 1.5 -524.7 2.4 11.9 -1.6 1.3 16.2 170.0 2.0 5.3 -20.6 4.7 16.5 -27.5 1.7 9.6 -128.5 -0.7 8.3 187.0 12 13 14 15 16 17 18 Financial sectors Monetary authority Savings institutions Credit unions (net) 3.2 -10.8 -3.2 2.6 146.1 13.8 -0.1 2.6 82.1 -6.0 9.3 -1.6 269.7 5.8 27.3 -2.6 -73.3 33.5 -10.9 -4.8 -125.6 -80.0 -22.7 2.4 -101.1 -320.0 -20.8 -3.0 -536.5 0.0 -76.9 13.2 204.8 0.0 35.9 -3.6 -69.5 0.0 -28.8 3.0 75.2 0.0 -9.9 -9.9 15 16 17 18 -0.2 0.3 -3.2 -18.7 18.1 18.3 0.0 0.5 1.0 -0.6 112.0 2.8 14.1 0.0 -0.6 0.8 4.5 48.7 17.4 9.7 0.0 2.4 3.4 -2.5 211.3 -0.6 25.3 0.0 -1.1 7.3 1.8 -63.5 -7.4 -28.2 0.0 -2.0 3.1 -0.2 -62.5 28.6 7.6 0.1 -8.2 14.9 -0.8 141.7 -84.7 179.4 0.4 0.0 3.9 0.3 -320.7 72.2 -228.5 0.0 0.0 16.9 0.1 40.3 59.0 56.2 0.0 0.0 -23.3 -0.5 -111.2 67.7 23.4 0.0 0.0 0.4 -0.2 -84.9 -7.3 187.1 0.0 19 20 21 22 23 24 25 -133.2 103.6 197.5 -343.5 -298.4 341.7 -876.8 1466.7 -47.8 824.6 -140.7 26 19 20 21 22 23 24 25 26 Property-casualty insurance companies Private pension funds State and local govt. retirement funds Money market mutual funds Mutual funds Government-sponsored enterprises (net) Funding corporations Discrepancy--unallocated assets F.208 Open Market Paper Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 6 Total net issues, all types Commercial paper Nonfinancial corporate business Foreign issues in U.S. Nonfinancial Financial 106.2 245.1 317.1 -169.4 -189.0 -461.3 -647.5 -720.1 -226.2 -251.4 -153.9 1 106.5 245.1 317.4 -169.4 -188.8 -461.3 -647.5 -720.1 -226.2 -251.4 -153.9 2 15.3 69.2 -2.2 71.5 -7.7 38.6 15.7 22.9 22.4 98.4 -1.9 100.3 11.3 -69.3 2.0 -71.3 7.7 -71.0 20.7 -91.7 -72.4 57.8 -15.2 73.0 -138.4 64.6 25.8 38.8 -132.4 -22.0 -19.4 -2.6 2.4 201.9 -35.4 237.2 -21.2 -13.3 -31.8 18.5 54.6 -27.1 34.5 -61.6 3 4 5 6 7 8 9 10 11 12 Financial sectors Commercial banking ABS issuers Finance companies REITs Funding corporations 21.9 10.8 -3.9 30.2 0.0 -15.2 214.2 4.0 148.3 -15.3 0.0 77.1 196.6 21.7 162.9 5.3 0.0 6.7 -111.4 37.9 -194.2 -15.1 0.0 60.1 -125.4 -39.0 -83.9 -22.6 0.0 20.1 -446.7 -18.1 -266.7 -38.8 0.0 -123.1 -573.7 -91.1 -213.0 -82.0 0.0 -187.7 -565.8 -17.0 -282.2 -10.3 0.0 -256.2 -430.5 14.9 -291.5 -44.3 0.0 -109.6 -217.0 20.6 -280.1 -18.6 0.0 61.2 -181.3 52.7 -54.5 36.8 0.0 -216.3 7 8 9 10 11 12 13 Bankers acceptances (1) -0.3 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 13 14 Net purchases, by sector 106.2 245.1 317.1 -169.4 -189.0 -461.3 -647.5 -720.1 -226.2 -251.4 -153.9 14 6.4 19.3 10.1 37.0 0.0 0.0 0.0 0.1 14.7 16.0 13.1 9.9 0.0 0.0 0.0 -0.0 19.0 11.7 17.6 48.0 0.0 0.0 0.0 0.2 -10.2 -53.2 -7.3 -9.6 0.0 0.0 0.0 -0.5 -101.3 -9.4 -62.3 -45.1 0.0 15.7 0.0 -0.4 -1.4 -12.0 -45.6 -42.9 0.0 -15.7 0.0 0.0 -1.6 -36.0 -33.1 -52.9 0.0 -44.9 0.0 0.0 -2.0 8.3 -52.4 -79.3 0.0 21.6 0.0 0.0 -0.8 -22.4 -57.9 -16.0 0.0 -39.2 0.0 0.0 -1.0 2.1 -39.0 -23.5 0.0 -0.2 0.0 0.0 -0.2 24.0 -19.4 10.1 0.0 0.0 0.0 0.0 15 16 17 18 19 20 21 22 -1.4 -10.5 1.0 -6.5 -54.1 18.0 -0.9 -1.3 88.9 3.5 -3.0 3.0 0.1 86.3 2.9 8.0 12.2 78.4 0.6 4.3 0.2 7.6 116.1 17.4 18.5 4.1 51.8 -3.1 13.1 -4.8 -4.4 66.3 -0.4 -4.7 22.8 -173.4 5.8 -3.4 10.2 -12.5 -56.1 -62.5 14.1 -21.4 139.7 -2.1 20.7 -10.5 -3.2 -107.8 28.6 3.0 -24.2 -248.2 0.2 23.4 1.6 -0.9 -93.0 -93.1 17.8 -63.3 -271.7 -9.5 20.2 2.0 -7.4 -196.4 74.9 3.2 45.5 -548.7 -2.0 12.3 -26.5 0.1 -31.7 55.1 -9.5 -46.9 -40.8 2.9 26.9 -19.2 -4.5 -110.3 77.5 0.3 -32.0 -131.5 -12.2 -58.0 -19.8 -8.2 -173.8 -22.8 -4.5 -12.2 143.0 23 24 25 26 27 28 29 30 31 15 16 17 18 19 20 21 22 Household sector Nonfinancial corporate business State and local governments Rest of the world Monetary authority Commercial banking (1) Savings institutions Credit unions 23 24 25 26 27 28 29 30 31 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Money market mutual funds Mutual funds Government-sponsored enterprises Brokers and dealers Funding corporations (1) Excludes banks’ holdings of own acceptances. 44 Z.1, June 10, 2010 F.209 Treasury Securities Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 362.5 307.3 183.7 237.5 1239.0 1443.7 1442.8 1896.4 1481.2 954.7 1445.7 1 0.6 361.9 0.7 306.6 -2.7 186.4 -6.0 243.4 -2.4 1241.4 -2.8 1446.5 -0.3 1443.1 -1.0 1897.4 -2.8 1484.0 -6.9 961.6 -4.0 1449.8 2 3 362.5 307.3 183.7 237.5 1239.0 1443.7 1442.8 1896.4 1481.2 954.7 1445.7 4 Household sector Savings bonds Other Treasury issues 17.7 0.6 17.1 -102.6 0.7 -103.3 -83.1 -2.7 -80.3 -42.5 -6.0 -36.6 171.2 -2.4 173.6 370.5 -2.8 373.3 794.6 -0.3 794.9 210.4 -1.0 211.4 507.4 -2.8 510.2 -30.3 -6.9 -23.4 271.1 -4.0 275.1 5 6 7 8 9 10 Nonfinancial corporate business Nonfarm noncorporate business State and local governments 0.3 5.3 24.9 18.1 6.0 92.3 -6.7 0.2 35.5 -7.1 3.0 14.5 -7.5 3.5 -39.6 17.5 -4.4 49.4 39.4 -3.5 42.8 22.0 -4.4 30.3 1.0 -5.2 60.7 7.4 -4.6 63.9 7.5 -4.7 -34.0 8 9 10 11 12 Rest of the world Monetary authority 366.9 51.2 245.1 26.4 150.3 34.7 165.2 -38.3 674.3 -264.7 527.7 300.7 688.1 88.9 403.8 647.4 459.1 446.3 559.9 20.0 790.2 26.2 11 12 13 14 15 16 17 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas -24.3 -19.2 -5.7 -0.8 1.4 -10.7 -10.1 0.1 -0.9 0.1 -2.1 -2.2 -1.0 1.4 -0.2 17.4 11.1 3.6 4.6 -1.9 -19.2 -19.6 5.1 -4.0 -0.6 92.2 64.3 25.9 2.7 -0.7 66.0 40.7 37.0 -10.3 -1.4 26.0 46.7 -46.2 25.9 -0.3 246.3 165.0 93.0 -11.5 -0.3 30.6 4.8 19.9 6.6 -0.8 236.2 224.7 10.0 -0.2 1.6 13 14 15 16 17 18 19 Savings institutions Credit unions -3.9 0.1 4.0 -1.1 4.5 -0.3 -5.4 3.0 -4.1 -1.6 3.8 5.3 2.7 -2.3 3.9 16.6 5.6 2.3 3.0 4.5 1.5 0.7 18 19 20 21 22 23 24 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 20.3 1.7 -3.9 2.4 5.4 0.3 13.5 3.5 2.8 7.8 3.1 -7.6 14.3 2.4 8.3 -38.7 -17.3 38.7 -14.6 11.3 -5.6 35.1 15.4 4.8 24.2 16.6 70.6 125.8 28.1 6.8 15.4 141.7 117.3 15.3 17.5 12.4 29.6 89.1 38.6 0.8 17.2 76.9 176.7 29.5 2.2 21.2 34.0 120.1 28.9 6.7 -4.2 12.7 123.4 28.4 5.8 20 21 22 23 24 25 26 27 28 29 30 31 Money market mutual funds Mutual funds Closed-end funds Exchange-traded funds Government-sponsored enterprises ABS issuers Brokers and dealers -33.9 4.8 2.3 2.8 -0.6 5.2 -82.4 -9.6 6.6 0.3 4.8 0.2 19.7 -20.0 -5.9 5.0 0.2 3.4 1.2 28.7 -2.4 95.5 18.5 -1.7 6.6 1.3 21.0 7.1 399.5 8.7 -2.4 7.4 1.2 -12.3 250.6 -171.3 67.6 1.2 14.7 5.1 -16.5 -67.6 -253.6 20.6 0.3 18.4 3.2 -14.8 -355.5 -64.4 36.8 1.6 15.7 6.8 -19.3 392.5 -260.4 49.5 0.9 12.2 9.0 -16.8 -339.3 -106.8 163.5 2.0 12.5 1.4 -15.1 31.7 -149.8 53.4 2.5 18.4 153.0 -15.8 -76.7 25 26 27 28 29 30 31 361.9 306.9 183.4 237.1 1239.2 1443.9 1439.6 1895.3 1484.9 955.8 1446.1 32 2 3 4 5 6 7 Net issues 2005 Savings bonds Other Treasury issues Net purchases Memo: 32 Federal government borrowing (1) (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). 45 Z.1, June 10, 2010 F.210 Agency- and GSE-backed Securities (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 2 3 4 5 6 7 8 Net issues Budget agencies Government-sponsored enterprises Agency- and GSE-backed mortgage pools Net purchases Household sector Nonfinancial corporate business State and local governments 9 10 11 Federal government Rest of the world Monetary authority 12 13 14 15 16 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 17 18 Savings institutions Credit unions 19 20 21 22 23 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 24 25 26 Money market mutual funds Mutual funds Government-sponsored enterprises 27 28 29 ABS issuers REITs Brokers and dealers Q2 Q3 Q4 2010 Q1 115.2 80.0 327.9 905.3 768.9 -60.2 44.9 -136.9 -103.9 -45.0 -16.2 1 -0.6 75.0 40.8 -0.4 -84.0 164.5 -0.3 35.6 292.6 -0.4 282.4 623.3 0.2 271.7 497.0 0.1 -475.3 415.0 -3.2 -254.5 302.6 -1.1 -680.9 545.1 3.7 -590.3 482.7 1.2 -375.7 329.5 0.3 -84.4 67.8 2 3 4 115.2 80.0 327.9 905.3 768.9 -60.2 44.9 -136.9 -103.9 -45.0 -16.2 5 78.2 0.1 21.9 99.3 6.0 28.4 -59.5 -2.2 38.3 345.5 -2.4 14.6 98.5 -2.5 -20.3 -650.8 2.5 -52.0 -895.9 -13.5 -33.3 -1204.9 20.7 -52.4 -60.7 0.3 -56.4 -441.5 2.5 -66.1 -208.0 2.5 -66.6 6 7 8 0.0 178.2 0.0 0.0 134.3 0.0 0.0 222.7 0.0 0.0 250.3 0.0 54.4 -218.1 19.7 171.1 -137.9 1048.5 227.8 -236.4 1069.3 213.2 -25.2 1088.1 123.9 -195.2 1058.0 119.5 -94.9 978.8 0.0 -99.9 677.7 9 10 11 94.8 89.7 -1.4 1.9 4.7 -5.4 -3.3 -0.9 -2.3 1.2 45.9 47.5 4.2 -0.0 -5.8 -113.3 -111.4 2.0 -1.3 -2.7 147.1 139.7 -6.6 15.9 -2.0 102.0 131.3 -18.4 -7.0 -3.9 2.1 67.1 -19.7 -39.0 -6.3 183.7 205.4 -27.5 3.0 2.7 -142.0 -121.1 -14.1 -0.1 -6.7 364.0 373.9 -12.5 8.0 -5.3 -22.7 -8.5 1.3 -7.0 -8.4 12 13 14 15 16 -82.3 -1.1 55.8 -6.8 -13.4 -13.9 0.3 -4.1 -3.5 14.4 27.8 27.9 8.3 23.6 47.0 24.6 38.9 30.9 17.1 32.5 32.9 41.6 17 18 -3.3 8.2 11.8 23.7 -0.5 5.8 11.4 16.8 -0.4 0.0 4.1 8.8 16.6 49.4 0.1 3.8 5.5 28.2 23.3 0.3 -11.5 -16.7 21.3 6.3 0.0 1.9 -10.2 -49.0 -37.6 0.6 -2.0 -29.7 -30.2 -30.9 -0.3 3.0 4.4 -64.8 -43.1 0.3 2.7 -12.2 -62.3 -37.8 1.3 4.1 -3.4 -38.9 -38.5 1.0 4.3 25.6 -28.2 -36.4 0.5 19 20 21 22 23 -61.1 15.2 -202.4 -107.4 20.8 -135.4 -28.7 15.7 -37.1 104.5 66.2 -11.1 520.3 27.3 207.0 -213.2 46.4 -27.4 122.5 -18.3 175.9 -150.7 115.2 -19.8 -398.2 72.5 -118.3 -426.3 16.3 -147.5 -270.6 167.4 -180.4 24 25 26 -5.6 15.8 23.5 -32.9 -4.0 -6.3 19.2 24.8 37.0 17.8 23.5 152.2 -29.0 1.6 -47.5 -194.3 15.3 -131.8 -230.5 19.2 -82.7 -131.6 34.7 -179.0 -224.6 17.8 -142.6 -190.5 -10.4 -122.8 -138.1 15.6 66.5 27 28 29 (1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB; and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 32. 46 Z.1, June 10, 2010 F.211 Municipal Securities and Loans Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2 3 4 5 6 7 Net change in liabilities State and local governments Short-term (1) Long-term Nonprofit organizations (2) Nonfinancial corporate business (industrial revenue bonds) Net change in assets 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 130.5 195.0 177.4 215.6 57.1 127.7 122.1 117.9 157.8 113.0 114.4 1 113.8 -5.9 119.7 11.4 171.3 5.7 165.6 16.0 153.1 -3.1 156.2 18.9 190.4 17.3 173.1 17.1 46.4 12.0 34.4 8.1 107.4 2.8 104.6 15.0 105.3 -6.0 111.2 12.0 91.1 -7.6 98.8 21.7 126.9 51.6 75.3 21.2 106.3 -26.8 133.1 5.1 100.1 -13.1 113.2 10.1 2 3 4 5 5.3 7.6 5.4 8.1 2.6 5.3 4.8 5.0 9.7 1.5 4.2 6 130.5 195.0 177.4 215.6 57.1 127.7 122.1 117.9 157.8 113.0 114.4 7 8 9 10 11 12 Household sector Nonfinancial corporate business Nonfarm noncorporate business State and local governments Rest of the world 38.6 -3.6 1.7 0.3 6.5 78.6 0.3 0.1 0.4 3.0 50.8 -4.0 1.3 0.5 5.4 23.9 1.1 -0.5 0.3 10.7 11.2 -2.6 0.3 0.1 -4.1 91.7 0.5 -0.4 0.4 19.6 131.4 -13.3 -0.3 -0.5 -4.0 19.0 -2.0 -0.4 1.3 22.3 114.1 6.8 -0.5 0.6 31.7 102.3 10.5 -0.4 0.3 28.3 93.1 -1.4 -0.4 0.3 45.5 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Commercial banking Savings institutions Property-casualty insurance companies Life insurance companies State and local govt. retirement funds Money market mutual funds Mutual funds Closed-end funds Exchange-traded funds Government-sponsored enterprises Brokers and dealers 8.1 0.8 43.6 4.0 -2.6 21.8 4.1 -0.1 0.0 0.3 7.1 16.9 1.5 45.4 2.4 -0.2 23.0 17.4 0.2 0.0 -4.9 10.9 22.6 2.5 22.1 4.1 1.6 33.5 32.7 0.0 0.0 -3.6 8.0 12.7 -0.1 36.1 4.8 -0.8 100.7 27.8 1.9 0.6 -2.8 -0.7 23.7 -3.3 10.6 5.7 -1.0 23.6 17.4 -12.8 1.7 -2.0 -11.4 1.9 1.5 -12.6 26.3 0.0 -93.3 90.6 3.3 3.6 -2.2 -3.3 -9.7 3.4 -24.8 25.5 0.1 -60.9 68.7 4.8 3.3 -1.4 -0.0 29.0 0.4 -8.6 24.9 0.0 -68.8 95.8 5.1 3.6 -1.9 -1.7 -10.0 2.0 -10.2 26.7 0.0 -136.0 113.2 3.6 4.4 -2.9 14.3 -1.6 0.2 -6.6 28.1 0.1 -107.4 84.6 -0.2 3.3 -2.5 -25.9 0.0 1.4 13.7 5.3 0.0 -143.8 82.1 0.6 2.6 -4.2 19.6 13 14 15 16 17 18 19 20 21 22 23 (1) Debt with original maturity of 13 months or less. (2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100). F.212 Corporate and Foreign Bonds Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 6 7 8 9 10 11 12 Net issues Nonfinancial corporate business Rest of the world (1) Financial sectors Commercial banking Savings institutions ABS issuers (net) (3) Finance companies REITs Brokers and dealers Funding corporations Net purchases 829.5 864.2 1250.6 1223.9 -135.2 -51.5 127.0 20.2 -23.5 -329.6 -354.9 1 75.5 85.8 56.7 64.5 215.6 227.8 311.2 218.7 204.6 -62.1 381.4 152.9 579.2 137.5 396.5 219.4 270.0 83.0 280.0 171.8 413.0 139.6 2 3 668.3 59.0 2.5 443.2 74.1 61.9 15.2 12.2 743.0 56.7 1.0 581.1 43.6 32.8 0.1 27.6 807.3 76.0 2.0 644.8 42.4 13.9 6.4 21.6 694.0 118.6 -0.3 530.2 -2.8 0.7 -4.0 51.5 -277.7 129.3 -8.0 -328.0 -49.6 -55.1 32.3 1.4 -585.9 -57.5 -0.2 -449.7 -87.0 -25.2 -4.2 37.9 -589.7 44.0 -1.9 -563.1 -70.5 -31.8 -60.1 93.8 -595.8 21.9 0.9 -422.4 -200.8 -29.0 60.4 -26.7 -376.6 35.7 0.7 -431.4 -9.4 -5.9 27.6 6.1 -781.4 -331.6 -0.3 -382.0 -67.2 -34.0 -44.7 78.4 -907.5 -197.4 -12.4 -472.6 -284.6 25.8 -2.8 36.4 4 5 6 7 8 9 10 11 829.5 864.2 1250.6 1223.9 -135.2 -51.5 127.0 20.2 -23.5 -329.6 -354.9 12 13 14 15 16 Household sector State and local governments Federal government Rest of the world (2) 39.6 6.9 0.0 259.5 119.6 9.0 0.0 328.5 197.6 12.1 0.0 541.0 206.3 8.8 0.0 424.6 -187.2 1.3 0.0 40.0 -207.7 10.7 0.6 -108.3 -139.5 17.5 0.0 -46.7 -234.9 -18.2 1.5 -109.9 -274.0 34.9 0.7 -152.5 -182.3 8.7 0.1 -124.0 -496.8 7.5 0.1 -93.0 13 14 15 16 17 18 19 20 21 22 23 24 Commercial banking Savings institutions Credit unions Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 82.4 -12.7 0.6 26.4 145.9 -7.5 6.0 -0.3 123.4 21.0 -1.5 17.5 74.7 22.2 14.5 -0.0 93.3 13.2 7.2 14.2 29.7 27.7 55.5 -0.0 197.9 49.5 3.9 5.9 43.1 39.8 13.6 0.1 1.7 -33.7 -8.9 -15.4 -45.5 42.7 15.9 -0.1 -112.7 -23.3 -7.0 30.8 100.1 42.8 -2.7 0.1 -104.8 17.3 -32.2 20.0 122.4 55.3 -9.3 -0.4 -73.5 -16.7 1.4 32.9 75.2 40.6 -1.1 -0.1 41.5 -11.2 -0.4 33.1 102.5 39.5 -10.3 0.5 -313.8 -82.7 3.1 37.2 100.3 35.7 9.9 0.2 -260.0 -13.7 -0.6 11.0 136.4 38.0 12.6 0.2 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 Money market mutual funds Mutual funds Closed-end funds Exchange-traded funds Government-sponsored enterprises Finance companies REITs Brokers and dealers Funding corporations 2.3 64.9 8.9 1.0 192.0 -7.7 17.1 18.7 -14.5 2.2 65.9 1.7 1.9 50.9 -52.5 17.0 77.7 -29.4 105.1 104.3 5.7 2.4 16.1 -18.7 11.6 39.8 -7.1 8.5 123.0 -1.0 6.2 -17.4 4.5 -30.2 27.3 109.6 -148.8 69.9 -24.5 13.9 -77.7 3.0 -20.0 -259.0 497.3 -58.1 146.2 5.8 27.6 -33.8 6.3 3.1 47.5 80.6 -40.8 179.7 -4.0 26.4 -76.6 29.3 -2.9 -86.2 202.6 0.5 144.6 10.8 26.6 67.3 20.2 6.9 73.3 -27.1 -199.4 121.0 9.2 27.4 3.4 -19.4 6.2 126.8 97.0 7.3 139.6 7.3 30.1 -129.3 -5.1 2.2 76.1 50.0 22.7 201.8 6.2 20.2 55.8 -51.9 7.1 -7.7 49.0 25 26 27 28 29 30 31 32 33 (1) Net purchases of foreign issues by U.S. residents. (2) Net purchases of U.S. issues by foreign residents. (3) Net issuance less net acquisition of corporate bonds held as assets. 47 Z.1, June 10, 2010 F.213 Corporate Equities (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 Net issues 2 Nonfinancial corporate business 3 Rest of the world (2) 4 5 6 7 8 9 10 11 12 13 14 15 Financial sectors Commercial banking Savings institutions Property-casualty insurance companies Life insurance companies Closed-end funds Exchange-traded funds REITs Government-sponsored enterprises Brokers and dealers Funding corporations (3) Net purchases Q2 Q3 Q4 2010 Q1 80.5 -76.6 -368.7 -460.2 308.8 320.9 424.8 494.8 306.3 57.5 -134.2 1 -122.7 -341.8 -565.7 -786.8 -336.0 -63.3 -133.1 126.4 65.7 -312.2 -207.6 2 84.8 186.7 137.3 147.8 1.3 68.6 7.3 150.9 104.8 11.4 36.1 3 118.5 17.6 -0.3 -4.0 -17.3 32.7 56.4 21.5 9.3 2.6 0.0 78.5 -13.8 2.2 -2.8 -8.0 20.7 56.7 16.1 4.2 3.3 0.0 59.7 -10.5 0.8 -8.5 -20.0 8.2 74.0 22.2 1.1 -7.6 0.0 178.9 -23.7 3.3 -13.2 -30.6 17.8 150.5 17.1 25.5 32.3 0.0 643.5 331.9 1.7 0.4 -10.7 -57.6 177.2 12.8 27.6 120.2 40.0 315.5 78.7 1.5 -5.3 -0.9 6.8 116.5 24.2 96.0 -32.4 30.5 550.6 230.3 0.9 -1.4 -6.9 7.1 -9.9 9.2 182.2 139.1 0.0 217.5 18.8 2.3 -2.2 8.5 12.4 152.6 55.6 101.9 -137.1 4.6 135.8 90.8 1.4 -6.6 -0.9 -1.0 108.4 22.9 41.7 -129.2 8.2 358.3 -25.0 1.4 -10.9 -4.5 8.7 214.7 9.2 58.2 -2.5 109.0 37.3 16.1 0.7 -23.6 -7.6 -3.2 27.9 10.8 58.6 -52.5 10.0 4 5 6 7 8 9 10 11 12 13 14 80.5 -76.6 -368.7 -460.2 308.8 320.9 424.8 494.8 306.3 57.5 -134.2 15 -269.9 -4.2 0.0 25.0 -372.5 2.5 0.0 56.9 -585.1 -4.4 0.0 96.2 -852.3 7.1 0.0 218.5 -53.5 17.6 256.3 92.8 79.8 4.6 0.6 122.2 440.4 13.5 363.6 34.8 279.2 4.3 -127.9 122.0 -126.5 1.9 53.7 198.3 -273.9 -1.4 -287.1 133.7 -125.2 9.9 -14.4 140.0 16 17 18 19 16 17 18 19 Household sector State and local governments Federal government Rest of the world (4) 20 21 22 Monetary authority Commercial banking Savings institutions 0.0 -0.3 -1.1 0.0 0.1 -1.0 0.0 0.7 -1.0 0.0 1.6 -0.1 0.0 2.4 -1.5 25.1 6.8 -0.5 0.0 16.0 1.5 0.0 -14.5 -2.0 0.0 -1.9 -6.3 100.4 27.6 4.7 1.2 5.7 -9.0 20 21 22 23 24 25 26 27 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds -3.9 51.5 24.7 1.9 9.1 -6.1 65.9 -42.0 -5.6 7.0 2.3 71.4 -86.5 -70.0 6.3 0.5 84.1 -188.3 -6.4 2.7 35.1 81.8 -184.6 1.2 -8.6 -2.4 78.1 -175.6 -1.7 8.8 -17.6 69.1 -234.6 7.0 -3.2 9.5 87.6 -188.5 -1.4 16.6 9.7 62.2 -168.2 12.2 8.3 -11.3 93.6 -111.0 -24.6 13.5 -0.0 44.3 -135.0 -21.8 8.4 23 24 25 26 27 28 29 30 31 32 Mutual funds Closed-end funds Exchange-traded funds Brokers and dealers Funding corporations 158.5 21.7 52.6 15.2 0.0 129.6 18.5 50.0 20.1 0.0 131.3 2.2 68.3 -0.2 0.0 91.3 18.7 137.2 25.4 0.0 -38.1 -17.9 154.2 -28.5 0.0 87.6 -3.5 70.5 -4.6 25.1 -154.2 6.0 -58.0 -59.5 0.0 228.4 -5.1 106.7 -20.1 0.0 197.3 -14.6 64.4 16.0 0.0 78.9 -0.4 168.9 45.3 100.4 63.4 -12.6 -13.3 -77.0 1.2 28 29 30 31 32 (1) Excludes mutual fund shares shown on table F.214. (2) Net purchases of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs). (3) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC. (4) Net purchases of U.S. issues by foreign residents. F.214 Mutual Fund Shares (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net issues 298.2 260.2 336.8 364.7 31.0 491.8 -94.7 774.5 675.9 611.4 537.5 1 2 Net purchases 298.2 260.2 336.8 364.7 31.0 491.8 -94.7 774.5 675.9 611.4 537.5 2 219.4 -1.5 -1.3 32.7 213.9 1.5 0.8 32.2 207.2 24.9 -1.3 45.2 256.8 0.2 2.2 38.2 16.8 -6.1 8.6 5.3 393.1 39.9 8.0 23.7 -211.6 39.9 8.4 1.0 679.4 39.9 12.6 36.4 545.5 39.9 11.4 30.3 559.1 39.9 -0.4 27.1 439.5 39.9 0.9 31.9 3 4 5 6 3 4 5 6 Household sector Nonfinancial corporate business State and local governments Rest of the world 7 8 Commercial banking Credit unions -0.9 -0.9 -1.8 -1.0 3.9 -0.1 3.6 -0.0 1.3 -0.0 14.8 -0.7 66.3 -1.1 -15.0 0.1 30.3 -1.0 -22.3 -0.9 -1.1 0.9 7 8 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds 0.5 12.8 36.1 1.5 0.3 -9.9 29.7 -5.5 0.5 26.9 33.1 -3.4 -0.5 31.3 38.1 -5.2 -0.4 -10.7 17.2 -1.1 0.1 0.0 13.1 -0.2 0.0 -4.0 5.2 1.0 0.1 2.0 19.1 -0.2 0.1 1.0 16.5 1.9 0.1 1.0 11.4 -3.6 -0.0 1.0 27.7 -3.2 9 10 11 12 9 10 11 12 (1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities. 48 Z.1, June 10, 2010 F.215 Bank Loans Not Elsewhere Classified Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Total loans by commercial banking, flow of funds basis 444.7 567.8 677.5 671.6 377.1 -575.6 -525.6 -350.6 -1093.5 -332.6 -557.7 1 2 3 4 5 - Loans elsewhere classified: Open market paper Mortgages Consumer credit Security credit 0.0 339.8 34.9 -5.1 0.0 362.4 2.8 34.8 0.0 445.0 34.2 71.5 0.0 241.4 62.9 32.3 15.7 197.0 74.5 -113.5 -15.7 -22.7 -50.6 -59.9 -44.9 34.6 2.7 -68.0 21.6 125.9 -35.7 -70.5 -39.2 -343.3 -72.5 -117.0 -0.2 91.9 -96.7 15.9 0.0 -368.5 61.8 0.1 2 3 4 5 6 = Banking sector total bank loans n.e.c. 75.1 167.8 126.8 335.1 203.4 -426.7 -450.0 -391.8 -521.6 -343.4 -251.2 6 67.6 8.2 -2.5 1.8 98.7 60.7 2.7 5.6 62.9 67.1 -2.9 -0.3 233.7 105.0 0.7 -4.2 137.9 65.1 2.0 -1.7 -298.1 -125.4 -2.8 -0.3 -343.2 -106.3 -0.5 0.0 -266.8 -117.6 -3.0 -4.4 -362.2 -164.8 1.0 4.4 -220.4 -112.8 -8.9 -1.3 -241.9 -13.8 8.5 -4.0 7 8 9 10 7 8 9 10 U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 11 + Loans from Federal Reserve banks 0.0 0.0 0.0 0.0 490.4 -347.6 -406.6 -539.3 -280.1 -164.4 -21.6 11 12 = Total bank loans n.e.c. 75.1 167.8 126.8 335.1 693.8 -774.3 -856.6 -931.1 -801.6 -507.7 -272.8 12 13 Net change in liabilities 75.1 167.8 126.8 335.1 693.8 -774.3 -856.6 -931.1 -801.6 -507.7 -272.8 13 9.0 149.0 189.2 264.2 197.7 -306.9 -372.5 -303.2 -290.2 -261.5 -180.7 14 -23.0 -5.6 31.7 2.2 9.7 -33.9 156.5 2.2 49.9 9.1 113.0 3.3 13.4 85.1 139.4 2.3 18.0 68.1 103.4 3.2 30.0 -133.6 -192.0 -0.1 -68.4 -132.9 -150.0 -1.9 48.3 -131.2 -212.7 -1.6 85.6 -135.6 -232.9 2.6 54.6 -134.7 -172.2 0.4 102.1 -108.1 -170.4 -2.7 15 16 17 18 3.8 1.0 4.5 -1.7 14.5 -2.9 4.7 12.7 13.8 -0.7 3.8 10.7 24.1 -0.0 8.3 15.8 5.1 0.7 2.8 1.6 -11.2 0.6 -5.1 -6.6 -19.4 -0.1 -14.9 -4.4 -6.0 1.4 -10.1 2.8 -9.8 2.0 4.8 -16.5 -9.6 -0.9 -0.2 -8.4 -1.6 -0.7 10.2 -11.1 19 20 21 22 66.0 18.8 -62.3 70.9 496.1 -467.4 -484.1 -627.9 -511.4 -246.2 -92.1 23 28.9 30.0 7.2 0.0 0.0 5.2 5.2 8.4 0.0 0.0 -44.5 -12.9 -5.0 0.0 0.0 13.3 52.8 4.8 0.0 0.0 13.0 -7.1 -0.3 45.5 444.9 -29.8 -30.4 -12.1 -45.5 -349.6 -30.2 -20.5 -8.0 -100.3 -325.1 -21.6 41.4 -26.7 -61.4 -559.6 -66.0 -83.4 -11.6 -20.2 -330.3 -1.3 -59.2 -2.0 -0.1 -183.5 1.4 -64.5 -8.6 0.0 -20.4 24 25 26 27 28 14 Nonfinancial sectors 15 16 17 18 Household sector Corporate business Nonfarm noncorporate business Farm business 19 20 21 22 Rest of the world Foreign official institutions Foreign banks Other foreign 23 24 25 26 27 28 Financial sectors Savings institutions Finance companies REITs Brokers and dealers Funding corporations 49 Z.1, June 10, 2010 F.216 Other Loans and Advances Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 Total other loans and advances Q2 Q3 Q4 2010 Q1 129.2 159.1 173.6 533.6 107.1 -436.9 -560.8 -554.4 -381.4 -251.1 -173.7 1 2 3 4 5 6 7 8 9 10 11 U.S. government loans Liab.: Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business State and local governments Rest of the world Government-sponsored enterprises Finance companies Funding corporations -3.0 -0.9 0.3 1.3 -0.3 0.3 -3.7 0.0 0.0 0.0 -7.0 -0.7 0.8 -2.9 -0.2 0.6 -4.6 0.0 0.0 0.0 0.6 1.4 1.2 4.8 -0.1 0.6 -7.4 0.0 0.0 0.0 -2.2 -0.4 -0.3 1.2 -0.0 0.7 -3.3 0.0 0.0 0.0 6.1 0.3 4.4 2.1 0.0 0.8 -1.5 0.0 0.0 0.0 65.8 -0.2 59.4 3.3 0.5 0.8 0.0 0.0 0.0 2.0 59.0 -0.2 50.9 4.3 -0.2 0.6 -1.5 0.0 4.7 0.4 96.0 -0.3 90.1 3.2 0.5 0.8 0.9 0.0 0.8 0.0 94.9 -0.5 97.3 1.5 1.4 0.7 0.0 0.0 -5.5 0.0 13.1 0.2 -0.6 4.0 0.1 1.2 0.6 0.0 0.0 7.6 14.4 -0.2 -1.4 2.9 0.4 0.6 0.8 0.0 0.0 11.3 2 3 4 5 6 7 8 9 10 11 12 13 Foreign loans to U.S. corporate business Liab.: Nonfinancial corporate business 6.3 6.3 31.3 31.3 6.2 6.2 102.7 102.7 -63.7 -63.7 -25.0 -25.0 -45.5 -45.5 -29.9 -29.9 -39.5 -39.5 14.8 14.8 10.2 10.2 12 13 14 15 16 Customers liability on acceptances outstanding (Commercial banking asset) Liab.: Nonfinancial corporate business Rest of the world -0.4 -0.4 0.1 0.0 0.0 -0.0 -0.3 -0.3 -0.1 0.0 -0.1 0.1 -0.2 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14 15 16 17 18 19 Savings institution loans to business Liab.: Nonfinancial corporate business Nonfarm noncorporate business 1.3 0.7 0.7 3.9 1.9 1.9 6.0 3.0 3.0 6.2 3.1 3.1 6.4 3.2 3.2 -14.5 -7.2 -7.2 2.6 1.3 1.3 -24.8 -12.4 -12.4 -34.6 -17.3 -17.3 -1.2 -0.6 -0.6 -1.9 -0.9 -0.9 17 18 19 20 21 22 Credit unions loans to business Liab.: Nonfinancial corporate business Nonfarm noncorporate business 1.9 1.0 1.0 1.0 0.5 0.5 0.9 0.4 0.4 0.0 0.0 0.0 2.7 1.4 1.4 2.7 1.4 1.4 7.1 3.5 3.5 3.4 1.7 1.7 -1.5 -0.8 -0.8 1.8 0.9 0.9 -1.9 -0.9 -0.9 20 21 22 23 24 25 Policy loans (Household liability) Asset: Federal government Life insurance companies 1.6 -0.1 1.6 0.8 -0.0 0.8 3.3 -0.0 3.4 3.6 -0.0 3.6 5.9 -0.0 5.9 0.7 -0.0 0.7 1.5 -0.0 1.6 2.0 -0.0 2.1 -3.4 -0.0 -3.4 2.7 -0.0 2.7 2.5 -0.0 2.6 23 24 25 26 27 28 29 30 31 32 33 Govt.-sponsored enterprises loans (1) Liab.: Household sector (SLMA) Noncorporate business (FCS) Farm business (FCS) Commercial banks (FHLB and SLMA) Savings institutions (FHLB and SLMA) Credit unions (FHLB) Life insurance companies (FHLB) 73.5 -0.3 -1.7 1.5 8.8 60.0 2.3 3.0 52.4 0.0 1.9 6.1 24.4 16.2 3.3 0.4 33.1 0.0 4.2 7.7 80.0 -65.7 4.2 2.7 237.7 0.0 4.3 7.7 106.7 91.1 13.4 14.5 38.1 0.0 24.8 -20.1 71.0 -72.2 8.3 26.2 -284.8 0.0 3.1 -3.3 -124.2 -139.6 -14.1 -6.6 -350.1 0.0 -4.4 7.4 -251.5 -50.8 -41.2 -9.6 -377.1 0.0 7.8 -6.9 -47.3 -315.5 -7.2 -8.0 -256.3 0.0 5.7 -15.9 -202.8 -30.4 -0.8 -12.0 -155.6 0.0 3.2 2.4 4.7 -161.9 -7.2 3.2 -157.6 0.0 -8.5 3.1 -156.8 19.9 -4.4 -10.8 26 27 28 29 30 31 32 33 34 35 Securitized loans held by ABS issuers Liab.: Nonfinancial corporate business 0.0 0.0 -17.6 -17.6 3.8 3.8 -4.0 -4.0 -15.6 -15.6 -23.7 -23.7 -30.4 -30.4 -28.2 -28.2 -40.6 -40.6 4.2 4.2 -18.0 -18.0 34 35 36 37 38 Finance company loans to business Liab.: Nonfinancial corporate business Nonfarm noncorporate business 9.8 8.8 1.0 27.6 24.9 2.8 18.9 17.0 1.9 24.9 22.4 2.5 16.9 15.2 1.7 -91.0 -81.9 -9.1 -85.1 -76.6 -8.5 -103.7 -93.3 -10.4 -28.2 -25.4 -2.8 -147.0 -132.3 -14.7 -41.5 -37.3 -4.1 36 37 38 39 40 41 42 43 44 45 Loans to nonfinancial corporate business (2) Asset: Household sector Life insurance companies Mutual funds ABS issuers Brokers and dealers Funding corporations 38.1 2.8 1.9 9.6 18.9 5.2 -0.3 66.6 2.7 4.2 10.5 37.8 7.7 3.6 101.1 0.4 6.5 9.8 61.2 19.8 3.4 164.6 8.5 9.6 36.1 92.6 11.1 6.7 110.5 12.2 14.3 12.4 53.4 3.1 15.1 -67.1 -5.3 -13.3 1.3 -27.4 -12.7 -9.8 -119.9 -9.4 -23.8 2.3 -48.9 -22.7 -17.4 -92.2 -7.2 -18.3 1.8 -37.6 -17.5 -13.4 -72.4 -5.7 -14.4 1.4 -29.5 -13.7 -10.5 16.0 1.3 3.2 -0.3 6.5 3.0 2.3 20.0 1.6 4.0 -0.4 8.2 3.8 2.9 39 40 41 42 43 44 45 (1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. (2) Syndicated loans from domestic entities, excluding banks and finance companies which are included elsewhere. 50 Z.1, June 10, 2010 F.217 Total Mortgages Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Net change in mortgages 1245.3 1436.1 1395.0 1063.7 89.9 -282.6 -38.6 -223.1 -500.0 -368.8 -559.6 1 2 3 4 5 Home Multifamily residential Commercial Farm 1013.5 47.2 172.2 12.5 1114.2 62.3 250.5 9.1 1073.2 40.7 277.9 3.3 710.3 82.2 266.6 4.6 -103.7 46.5 129.8 17.4 -211.9 8.5 -87.6 8.4 -50.3 7.6 -4.1 8.3 -222.5 37.4 -46.4 8.3 -442.1 20.4 -86.8 8.4 -132.6 -31.4 -213.2 8.4 -452.4 12.0 -118.8 -0.4 2 3 4 5 6 1245.3 1436.1 1395.0 1063.7 89.9 -282.6 -38.6 -223.1 -500.0 -368.8 -559.6 6 Household sector 943.8 1047.1 1017.6 699.5 -35.2 -171.2 -13.2 -171.3 -372.5 -127.6 -405.3 7 8 9 10 11 Nonfinancial business Corporate Nonfarm noncorporate Farm 276.0 52.2 211.3 12.5 374.9 194.9 170.9 9.1 370.8 86.2 281.3 3.3 359.5 50.6 304.3 4.6 118.3 42.6 58.3 17.4 -114.8 -33.1 -90.1 8.4 -30.9 3.0 -42.2 8.3 -61.3 -17.4 -52.2 8.3 -126.1 -33.0 -101.6 8.4 -241.0 -85.2 -164.2 8.4 -156.5 -46.6 -109.6 -0.4 8 9 10 11 12 13 Federal government REITs 0.0 25.5 0.0 14.1 0.0 6.6 0.0 4.7 0.0 6.8 0.0 3.4 0.0 5.6 0.0 9.5 0.0 -1.4 0.0 -0.1 0.0 2.2 12 13 14 Net change in assets 1245.3 1436.1 1395.0 1063.7 89.9 -282.6 -38.6 -223.1 -500.0 -368.8 -559.6 14 10.4 14.8 4.6 8.1 1.7 5.3 -17.3 -8.4 -1.5 -13.0 -18.4 7.4 1.4 -7.1 2.5 -8.3 -7.1 -3.1 -6.4 -7.1 -2.5 -7.8 -7.1 -3.1 -9.5 -7.1 -3.7 -9.2 -7.1 -3.3 -5.8 -7.1 -3.3 15 16 17 8.3 1.6 10.8 2.4 14.5 3.7 10.5 2.1 -5.6 13.5 20.0 12.6 -14.9 3.6 40.7 21.8 43.8 31.1 10.4 -6.3 9.0 -5.2 18 19 339.8 186.8 28.7 362.4 95.3 31.3 445.0 -77.2 30.1 241.4 17.2 31.8 197.0 -233.4 33.2 -22.7 -227.3 3.2 34.6 -51.3 22.9 125.9 -413.9 -4.5 -343.3 -202.7 -9.7 91.9 -241.2 4.1 -368.5 -19.1 22.0 20 21 22 0.3 12.4 -0.2 -5.3 0.3 12.1 -0.2 1.3 0.7 18.3 -0.3 -2.0 1.3 22.4 0.7 -4.7 0.2 16.3 0.9 -0.3 -0.5 -16.3 2.6 -0.1 0.2 -8.9 2.0 -0.3 0.2 -19.3 1.9 0.1 -1.0 -8.2 2.9 -0.2 -1.4 -28.9 3.4 -0.2 -0.8 -12.2 4.0 -0.0 23 24 25 26 7 Net borrowing 15 16 17 Household sector Nonfinancial corporate business Nonfarm noncorporate business 18 19 State and local governments Federal government 20 21 22 Commercial banking Savings institutions (1) Credit unions 23 24 25 26 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds 27 28 29 Government-sponsored enterprises (1) Agency- and GSE-backed mortgage pools ABS issuers 7.5 40.8 434.5 -40.2 164.5 687.5 18.4 292.6 635.7 35.9 623.3 183.0 58.3 497.0 -354.5 -4.7 415.0 -378.5 66.7 302.6 -352.3 -56.1 545.1 -413.2 -17.4 482.7 -365.3 -11.9 329.5 -383.3 44.5 67.8 -252.3 27 28 29 30 31 Finance companies REITs 105.8 54.6 65.4 28.1 53.0 -10.3 -62.5 -14.5 -84.0 -45.5 -50.5 -16.7 -9.9 -17.6 -23.6 -10.2 -70.7 -21.7 -97.9 -17.5 -38.3 5.6 30 31 (1) FHLB loans to savings institutions are included in other loans and advances. 51 Z.1, June 10, 2010 F.218 Home Mortgages (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 2 3 4 5 Net borrowing Household sector Nonfinancial corporate business Nonfarm noncorporate business Q3 Q4 2010 Q1 1013.5 1114.2 1073.2 710.3 -103.7 -211.9 -50.3 -222.5 -442.1 -132.6 -452.4 1 926.0 4.7 82.8 1039.0 7.6 67.6 990.7 8.2 74.2 673.5 2.9 33.9 -46.6 -10.2 -46.9 -162.6 -12.4 -36.9 -8.7 -10.8 -30.8 -168.5 -13.0 -41.1 -359.6 -13.8 -68.6 -113.5 -12.0 -7.1 -389.8 -7.8 -54.8 2 3 4 1013.5 1114.2 1073.2 710.3 -103.7 -211.9 -50.3 -222.5 -442.1 -132.6 -452.4 5 Household sector Nonfinancial corporate business Nonfarm noncorporate business 6.6 13.8 1.6 5.0 1.0 1.9 -15.0 -5.1 -0.6 -12.1 -10.9 2.7 0.4 -4.4 0.9 -8.0 -4.3 -1.1 -8.0 -4.3 -0.9 -8.0 -4.3 -1.1 -8.0 -4.2 -1.4 -8.0 -4.3 -1.2 -8.0 -4.2 -1.2 6 7 8 9 10 State and local governments Federal government 4.2 -0.5 5.5 -0.4 7.4 0.2 5.3 0.3 -2.7 2.7 10.0 5.7 -7.6 -0.2 20.1 10.2 22.3 15.6 5.3 -2.9 4.6 4.6 9 10 11 12 13 Commercial banking Savings institutions Credit unions 221.9 171.4 28.7 210.5 79.6 31.3 290.1 -86.0 30.1 128.4 11.1 31.8 30.0 -212.6 33.2 10.7 -217.7 3.2 4.7 -53.6 22.9 135.0 -416.9 -4.5 -287.9 -185.5 -9.7 191.0 -214.9 4.1 -285.2 -19.6 22.0 11 12 13 14 15 16 Life insurance companies Private pension funds State and local govt. retirement funds -0.4 -0.2 -1.9 -0.6 -0.0 0.5 2.9 -0.1 -0.7 -0.9 -0.1 -1.7 0.8 0.1 -0.1 -4.6 0.7 -0.0 -1.9 1.6 -0.1 -1.8 0.3 0.1 -1.6 0.4 -0.1 -13.2 0.5 -0.1 -0.2 0.1 -0.0 14 15 16 17 18 19 Government-sponsored enterprises Agency- and GSE-backed mortgage pools ABS issuers -10.5 43.8 382.2 -54.7 169.0 573.3 3.7 302.8 518.9 -9.7 622.6 33.4 9.1 492.2 -313.4 -18.4 402.5 -333.7 50.8 298.6 -333.1 -72.8 530.4 -386.2 -34.6 469.5 -342.4 -16.9 311.5 -273.2 22.1 67.1 -221.8 17 18 19 20 21 Finance companies REITs 101.8 50.9 67.8 24.6 48.3 -23.7 -65.4 -24.5 -97.3 -42.5 -47.8 -9.1 -7.3 -12.1 -19.6 -3.5 -69.4 -5.2 -94.8 -15.7 -39.0 6.4 20 21 182.2 117.6 25.6 12.2 7.1 19.7 139.2 65.5 30.4 12.0 17.1 14.3 151.3 104.6 -14.1 11.0 40.1 9.7 64.7 38.6 42.9 7.2 -11.0 -13.1 -18.0 82.6 -61.0 4.6 -24.6 -19.5 -81.9 -14.3 -39.5 -4.1 -14.5 -9.6 -70.2 -25.5 -14.0 -6.7 -18.3 -5.6 -87.4 46.2 -103.8 -3.7 -16.2 -9.9 -93.1 -57.9 -8.4 -4.5 -13.6 -8.7 -77.1 -20.0 -31.8 -1.5 -9.7 -14.0 -110.8 -74.8 -6.2 -10.2 -11.0 -8.5 22 23 24 25 26 27 6 7 8 22 23 24 25 26 27 Net change in assets Q2 Memo: Home equity loans included above (2) Commercial banking Savings institutions Credit unions ABS issuers Finance companies (1) Mortgages on 1-4 family properties including mortages on farm houses. (2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. F.219 Multifamily Residential Mortgages Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net borrowing 47.2 62.3 40.7 82.2 46.5 8.5 7.6 37.4 20.4 -31.4 12.0 1 0.0 43.7 1.4 61.0 1.0 39.4 6.0 78.6 2.0 42.2 1.3 5.5 0.9 4.3 1.4 30.0 1.6 18.5 1.3 -31.0 -1.2 12.2 2 3 Federal government REITs 0.0 3.6 0.0 -0.1 0.0 0.3 0.0 -2.3 0.0 2.3 0.0 1.8 0.0 2.3 0.0 6.1 0.0 0.2 0.0 -1.6 0.0 1.0 4 5 Net change in assets 2 3 Nonfinancial corporate business Nonfarm noncorporate business 4 5 6 47.2 62.3 40.7 82.2 46.5 8.5 7.6 37.4 20.4 -31.4 12.0 6 Household sector Nonfinancial corporate business Nonfarm noncorporate business 0.0 0.0 1.6 0.0 0.0 1.9 0.0 -0.1 -0.5 0.0 -0.3 2.6 0.0 -0.1 0.8 0.0 -0.1 -1.1 0.0 -0.1 -0.8 0.0 -0.1 -1.1 0.0 -0.1 -1.3 0.0 -0.1 -1.1 0.0 -0.1 -1.1 7 8 9 10 11 State and local governments Federal government 3.3 0.4 4.3 -0.0 5.8 -0.2 4.2 -0.3 -2.4 0.1 8.1 0.1 -6.0 -0.4 16.8 -0.1 17.5 0.0 4.1 1.1 3.6 -0.8 10 11 12 13 Commercial banking Savings institutions 14.2 9.6 20.0 10.8 18.9 -2.6 10.9 -3.1 42.2 -27.5 -4.1 -5.3 6.6 2.1 0.1 0.5 0.9 -9.3 -23.9 -14.5 -6.1 0.6 12 13 14 15 16 Life insurance companies Private pension funds State and local govt. retirement funds 1.9 0.0 -1.6 2.0 -0.0 0.4 3.6 -0.1 -0.6 5.8 0.1 -1.4 -0.1 0.3 -0.1 -3.2 0.3 -0.0 -2.3 -0.3 -0.1 -2.1 0.4 0.0 -1.5 0.6 -0.0 -7.1 0.7 -0.1 -2.8 1.1 -0.0 14 15 16 17 18 19 Government-sponsored enterprises Agency- and GSE-backed mortgage pools ABS issuers 14.3 -3.0 6.5 10.5 -4.5 16.6 12.4 -12.5 14.0 42.3 -0.7 22.1 40.0 4.6 -11.0 10.1 12.6 -6.2 12.7 4.2 -6.2 13.1 14.9 -3.0 13.3 13.4 -7.0 1.3 18.0 -8.6 20.1 3.3 -3.7 17 18 19 20 21 Finance companies REITs -0.1 0.1 0.0 0.3 -0.5 3.1 -0.1 0.2 0.8 -1.3 -0.7 -2.1 -0.8 -1.0 -0.4 -1.6 -0.8 -5.2 -0.9 -0.4 -1.6 -0.4 20 21 7 8 9 52 Z.1, June 10, 2010 F.220 Commercial Mortgages Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 2 3 4 5 6 Net borrowing Household sector Nonfinancial corporate business Nonfarm noncorporate business REITs Q3 Q4 2010 Q1 172.2 250.5 277.9 266.6 129.8 -87.6 -4.1 -46.4 -86.8 -213.2 -118.8 1 17.8 47.5 84.9 21.9 8.1 185.8 42.3 14.2 26.9 77.0 167.7 6.3 26.0 41.7 191.8 7.0 11.4 50.9 63.1 4.5 -8.6 -22.0 -58.6 1.6 -4.5 12.9 -15.7 3.2 -2.8 -5.8 -41.1 3.4 -12.9 -20.8 -51.5 -1.7 -14.1 -74.5 -126.1 1.5 -15.5 -37.6 -67.0 1.2 2 3 4 5 172.2 250.5 277.9 266.6 129.8 -87.6 -4.1 -46.4 -86.8 -213.2 -118.8 6 Household sector Nonfinancial corporate business Nonfarm noncorporate business 1.3 1.0 1.2 1.9 0.6 1.4 2.2 -3.2 -0.4 2.1 -7.3 2.0 0.9 -2.6 0.7 -0.7 -2.7 -0.9 -0.2 -2.7 -0.7 -0.4 -2.7 -0.9 -0.9 -2.7 -1.0 -1.4 -2.7 -0.9 -1.8 -2.7 -0.9 7 8 9 10 11 State and local governments Federal government 0.7 1.8 0.9 2.8 1.2 3.7 0.8 2.1 -0.5 10.4 1.6 6.4 -1.2 4.4 3.4 11.6 3.5 14.4 0.8 -5.0 0.7 -9.4 10 11 12 13 Commercial banking Savings institutions 98.1 5.9 128.7 4.9 133.8 11.3 100.4 9.1 117.9 6.7 -32.5 -4.2 20.2 0.3 -12.3 2.5 -59.5 -7.9 -78.5 -11.8 -73.6 -0.1 12 13 14 15 16 17 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds 0.3 10.1 0.0 -1.8 0.3 10.2 -0.1 0.5 0.7 11.1 -0.2 -0.7 1.3 16.8 0.7 -1.6 0.2 14.9 0.5 -0.1 -0.5 -9.3 1.5 -0.0 0.2 -5.6 0.7 -0.1 0.2 -16.2 1.2 0.0 -1.0 -6.0 1.9 -0.0 -1.4 -9.5 2.2 -0.1 -0.8 -8.2 2.8 -0.0 14 15 16 17 18 19 Agency- and GSE-backed mortgage pools ABS issuers 0.0 45.8 0.0 97.6 0.0 102.9 0.0 127.5 0.0 -30.2 0.0 -38.6 0.0 -13.0 0.0 -24.0 0.0 -15.9 0.0 -101.5 0.0 -26.7 18 19 20 21 Finance companies REITs 4.1 3.5 -2.4 3.2 5.2 10.3 2.9 9.9 12.6 -1.7 -2.0 -5.6 -1.8 -4.6 -3.7 -5.1 -0.4 -11.3 -2.2 -1.3 2.3 -0.4 20 21 7 8 9 Net change in assets Q2 F.221 Farm Mortgages (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net borrowing (Farm business) 12.5 9.1 3.3 4.6 17.4 8.4 8.3 8.3 8.4 8.4 -0.4 1 2 Net change in assets 12.5 9.1 3.3 4.6 17.4 8.4 8.3 8.3 8.4 8.4 -0.4 2 2.5 0.1 1.1 0.1 -4.5 -0.0 -3.0 0.1 0.2 0.1 0.5 -0.1 1.8 -0.0 0.6 -0.1 -0.7 -0.1 0.2 -0.1 4.0 -0.1 3 4 3 4 Household sector Nonfarm noncorporate business 5 6 State and local governments Federal government 0.1 -0.2 0.1 -0.0 0.1 -0.0 0.1 0.1 -0.1 0.2 0.2 0.4 -0.2 -0.1 0.4 0.1 0.4 1.0 0.1 0.6 0.1 0.3 5 6 7 8 Commercial banking Savings institutions 5.6 -0.0 3.3 0.0 2.2 0.1 1.7 0.1 6.9 0.0 3.1 -0.0 3.1 -0.0 3.1 0.0 3.2 -0.0 3.2 -0.1 -3.5 -0.1 7 8 0.7 0.0 0.6 0.0 0.7 0.0 0.7 0.0 0.6 0.0 0.9 0.0 0.8 0.0 0.9 0.0 0.9 0.0 0.9 0.0 -1.0 0.0 9 10 3.8 -0.1 4.0 -0.1 2.2 2.3 3.3 1.4 9.3 0.1 3.6 -0.2 3.1 -0.2 3.5 -0.2 4.0 -0.3 3.7 -0.1 2.4 -2.6 11 12 9 10 Life insurance companies State and local govt. retirement funds 11 12 Government-sponsored enterprises Agency- and GSE-backed mortgage pools (1) Excludes mortgages on farm houses. 53 Z.1, June 10, 2010 F.222 Consumer Credit Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Net change in liabilities (Households) 117.2 100.4 95.4 139.3 38.8 -115.3 -102.3 -123.8 -79.5 -155.4 -39.3 1 2 Net change in assets 117.2 100.4 95.4 139.3 38.8 -115.3 -102.3 -123.8 -79.5 -155.4 -39.3 2 0.2 0.0 3.7 0.4 0.0 3.7 -2.0 0.0 1.9 1.0 0.0 6.7 1.2 0.0 12.6 -2.6 0.0 75.0 11.3 0.0 36.7 -18.2 0.0 56.8 -36.2 0.0 84.5 32.6 0.0 121.9 -1.9 0.0 84.8 3 4 5 34.9 13.4 9.5 2.8 17.8 13.2 34.2 -13.5 5.9 62.9 -4.8 1.2 74.5 -4.5 0.5 -50.6 -8.8 1.0 2.7 -25.1 -2.2 -35.7 -16.6 1.6 -72.5 8.9 11.0 -96.7 -2.3 -6.5 61.8 -14.2 -27.5 6 7 8 -20.6 -23.2 99.3 0.0 38.4 24.2 0.0 51.2 17.8 0.0 22.6 49.7 0.0 -37.3 -8.3 0.0 -41.3 -88.0 0.0 -61.3 -64.4 0.0 -40.5 -71.2 0.0 -6.2 -69.0 0.0 -57.0 -147.5 0.0 -84.3 -58.0 9 10 11 3 4 5 Nonfinancial corporate business Nonfarm noncorporate business Federal government 6 7 8 Commercial banking Savings institutions Credit unions 9 10 11 Government-sponsored enterprises ABS issuers Finance companies F.223 Trade Credit Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net change in trade payables 194.7 340.8 189.1 202.2 -67.6 88.8 -144.4 7.7 349.7 142.3 118.7 1 2 Household sector 16.5 13.0 13.6 14.6 15.7 10.9 6.4 7.9 16.5 12.9 20.4 2 3 4 5 Nonfinancial corporate business Nonfarm noncorporate business Farm business 97.3 22.2 1.9 199.4 52.0 -2.8 110.3 20.0 -7.0 85.9 29.3 -4.1 -157.9 18.2 24.3 -45.0 -23.0 5.2 -235.4 -18.1 -5.3 -82.5 -22.8 12.0 14.9 -27.1 14.1 122.9 -23.9 -0.1 -50.0 -24.5 -11.4 3 4 5 6 7 State and local governments Federal government 30.2 15.4 32.1 33.7 34.4 6.2 37.2 29.2 40.0 26.7 38.7 53.5 38.2 -25.2 38.8 -4.3 39.0 235.4 38.9 8.3 38.8 182.9 6 7 8 9 Rest of the world Brokers and dealers 3.5 7.8 6.3 7.0 6.2 5.2 12.4 -2.4 -9.9 -24.7 -0.5 48.9 -11.6 106.5 31.8 26.9 7.3 49.6 -29.3 12.6 -6.1 -31.5 8 9 10 Net change in trade receivables 183.4 371.2 43.1 251.6 -98.6 -44.1 -286.1 -133.1 242.8 0.0 85.8 10 11 12 Nonfinancial corporate business Nonfarm noncorporate business 128.8 26.6 277.6 66.6 -18.3 40.0 163.1 54.7 -126.5 31.0 -38.1 -39.2 -203.2 -30.9 -120.9 -38.9 89.3 -46.2 82.4 -40.7 -35.9 -41.7 11 12 13 14 15 State and local governments Federal government Rest of the world 7.9 10.5 -1.1 10.2 9.2 7.9 13.8 -11.6 5.9 10.0 1.2 20.8 1.5 4.2 6.1 12.2 7.9 51.2 -14.2 6.2 -9.3 36.2 5.1 19.6 16.9 13.7 216.4 9.9 6.7 -21.8 8.5 -8.4 182.3 13 14 15 16 17 Property-casualty insurance companies ABS issuers 0.3 10.3 2.4 -2.8 4.9 8.5 -1.6 3.4 1.3 -16.1 -3.7 -34.5 2.8 -37.6 -0.4 -33.9 -7.7 -39.6 -9.7 -26.8 7.4 -26.5 16 17 11.3 -30.4 145.9 -49.4 31.0 132.9 141.7 140.8 106.9 142.3 32.9 18 18 Discrepancy F.224 Security Credit Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net change in liabilities 2 3 Household sector Rest of the world 4 5 6 7 Brokers and dealers Customer credit balances (HH) From U.S.-chartered commercial banks From foreign banking offices in U.S. 179.4 0.2 211.5 276.5 -397.9 -95.9 -495.5 -53.2 45.1 120.2 17.5 1 81.5 0.0 -31.6 0.0 59.7 0.0 33.4 0.0 -160.7 0.0 38.1 0.0 -122.3 0.0 53.6 0.0 104.4 0.0 116.9 0.0 -26.5 0.0 2 3 97.9 103.0 10.7 -15.8 31.8 -3.0 -6.6 41.4 151.8 80.4 20.9 50.6 243.0 210.8 29.3 3.0 -237.3 -123.8 12.8 -126.3 -134.0 -74.1 -59.2 -0.8 -373.3 -305.2 -78.1 10.1 -106.8 -36.2 -73.0 2.5 -59.3 57.7 -89.5 -27.5 3.3 -12.6 3.9 12.0 44.0 43.9 9.2 -9.0 4 5 6 7 8 Net change in assets 179.4 0.2 211.5 276.5 -397.9 -95.9 -495.5 -53.2 45.1 120.2 17.5 8 9 10 Household sector Rest of the world 103.0 0.0 -3.0 0.0 80.4 0.0 210.8 0.0 -123.8 0.0 -74.1 0.0 -305.2 0.0 -36.2 0.0 57.7 0.0 -12.6 0.0 43.9 0.0 9 10 11 12 Commercial banking Brokers and dealers -5.1 81.5 34.8 -31.6 71.5 59.7 32.3 33.4 -113.5 -160.7 -59.9 38.1 -68.0 -122.3 -70.5 53.6 -117.0 104.4 15.9 116.9 0.1 -26.5 11 12 54 Z.1, June 10, 2010 F.225 Life Insurance and Pension Fund Reserves Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 Life insurance reserves: 1 2 3 4 Net change in liabilities Federal government Life insurance companies Net change in assets (Households) 33.1 16.1 65.6 34.2 67.0 27.8 66.4 8.0 0.8 36.1 14.7 1 1.1 32.0 1.1 14.9 1.5 64.1 1.2 33.0 1.0 66.0 1.1 26.7 -0.2 66.5 2.1 6.0 0.2 0.6 2.4 33.7 -0.3 15.1 2 3 33.1 16.1 65.6 34.2 67.0 27.8 66.4 8.0 0.8 36.1 14.7 4 303.8 235.3 209.1 150.6 108.2 81.0 -17.1 13.5 121.7 205.8 35.2 5 200.4 24.1 24.6 54.7 142.1 32.5 6.0 54.7 100.5 12.1 46.1 50.4 118.6 -17.7 1.9 47.8 65.5 -54.6 18.4 78.9 35.7 -16.4 -16.4 78.2 50.1 -62.2 -19.4 14.5 2.2 -32.8 -12.5 56.6 43.1 25.2 -1.7 55.0 47.3 4.1 -32.1 186.5 44.3 -18.6 -27.8 37.3 6 7 8 9 303.8 235.3 209.1 150.6 108.2 81.0 -17.1 13.5 121.7 205.8 35.2 10 Pension fund reserves: 5 6 7 8 9 10 Net change in liabilities Life insurance companies Private pension funds (1) State and local govt. retirement funds Federal government retirement funds (2) Net change in assets (Households) (3) (1) Includes unallocated insurance company contracts beginning 1985:Q4. (2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds. (3) Excludes all individual retirement accounts (IRAs) (table F.225.i), except those at life insurance companies. F.226 Taxes Payable by Businesses Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net change in taxes payable by all businesses 20.5 -4.7 22.5 -69.3 -127.9 36.6 -37.3 39.9 113.1 30.8 -39.5 1 2 3 Nonfinancial corporate business Nonfarm noncorporate business 6.8 8.4 -1.8 8.7 -0.8 9.0 -49.6 3.8 3.1 2.6 -1.3 -3.2 -42.4 -2.6 -2.4 -3.2 16.4 -3.8 23.1 -3.4 -5.3 -3.5 2 3 4 5 U.S.-chartered commercial banks (net) Savings institutions -1.4 1.0 -7.9 0.1 -1.1 -0.4 -13.6 -2.0 -85.7 -0.3 7.1 0.3 8.0 1.4 -33.1 -2.3 59.7 2.3 -6.4 -0.2 -24.8 1.0 4 5 6 7 Property-casualty insurance companies (net) Life insurance companies (net) 0.5 3.1 -3.1 -2.6 11.0 4.0 -2.4 -3.4 -28.1 -19.7 5.3 28.1 -12.5 10.2 14.8 62.1 24.2 10.4 -5.2 29.5 13.5 -14.7 6 7 8 9 Finance companies Brokers and dealers 1.8 0.4 1.9 -0.1 0.0 0.7 -1.5 -0.6 -0.1 0.3 -2.8 3.2 -0.3 0.8 -3.2 7.3 -3.1 7.0 -4.5 -2.1 -0.4 -5.4 8 9 33.7 40.9 5.1 -28.4 -89.6 67.9 5.7 111.8 69.9 84.3 59.6 10 11.4 22.3 15.5 25.3 11.5 -6.3 -0.4 -28.0 -4.6 -85.0 -2.5 70.4 -2.4 8.0 -3.1 114.9 -2.0 72.0 -2.6 86.9 8.3 51.3 11 12 -13.2 -45.6 17.3 -40.9 -38.3 -31.3 -43.0 -71.9 43.1 -53.4 -99.2 13 10 11 12 13 Net change in business taxes receivable State and local governments Federal government Discrepancy F.227 Proprietors’ Equity in Noncorporate Business Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 Total household investment Nonfarm noncorporate business Farm business Brokers and dealers 60.4 -86.3 -12.6 -45.1 -9.2 -2.5 22.3 -36.1 -3.8 7.6 37.6 1 62.8 1.8 -4.2 -80.1 -5.0 -1.2 -8.2 2.4 -6.8 -46.7 -0.8 2.4 2.7 -23.3 11.5 13.3 -12.6 -3.2 12.4 -9.7 19.5 -3.6 -11.8 -20.7 16.1 -10.3 -9.6 28.3 -18.6 -2.1 40.1 7.2 -9.7 2 3 4 55 Z.1, June 10, 2010 F.228 Total Miscellaneous Financial Claims Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 Q3 Q4 2010 Q1 1561.4 1264.5 1855.6 2541.8 2268.5 99.1 266.5 -530.4 628.0 32.3 1116.9 1 2 3 4 Household sector Nonfinancial corporate business Nonfarm noncorporate business 1.6 430.3 68.9 1.0 779.4 142.8 0.5 821.3 144.8 1.0 1273.1 94.3 3.2 697.2 28.6 -4.9 472.9 17.5 -2.0 715.3 -13.2 -6.7 280.1 12.9 -1.5 180.2 20.3 -9.5 715.8 50.2 10.1 430.8 -11.7 2 3 4 5 6 Federal government Rest of the world 59.3 540.1 68.0 26.7 59.4 469.2 76.6 501.3 89.5 594.5 81.4 -150.4 -38.4 -613.0 62.6 -503.4 40.8 460.1 260.7 54.8 1.3 524.4 5 6 7 8 9 10 Monetary authority Commercial banking Savings institutions Credit unions 4.2 234.8 30.5 1.9 2.8 32.5 27.3 2.6 3.2 25.2 19.7 -2.7 2.5 159.3 22.2 -5.6 2.2 364.3 -30.1 1.1 6.1 -241.7 -50.5 14.7 -27.3 -183.9 6.1 72.9 35.8 -208.6 -109.5 -4.6 -42.2 -92.3 -79.9 -10.1 57.9 -481.8 -18.7 0.6 -33.4 113.9 8.7 -19.4 7 8 9 10 11 12 Property-casualty insurance companies Life insurance companies 43.0 7.9 52.2 19.5 39.7 50.9 21.1 67.6 43.6 46.8 -0.2 -52.9 -39.5 -38.6 5.0 -101.2 29.9 66.2 3.8 -137.9 11.1 65.2 11 12 13 14 Government-sponsored enterprises Finance companies -7.9 53.2 -1.9 28.2 11.6 13.7 17.7 -6.9 41.0 10.4 58.3 -91.2 131.6 53.1 8.8 -86.4 63.5 -96.2 29.3 -235.5 29.9 42.0 13 14 15 16 17 REITs Brokers and dealers Funding corporations 8.1 70.8 14.4 4.3 26.2 52.9 7.8 97.8 93.6 3.4 39.1 275.3 -3.7 -87.0 467.1 -22.8 27.5 35.3 -48.2 -68.3 359.7 4.2 328.1 -247.6 -23.3 -15.1 127.7 -24.0 -134.8 -98.4 22.2 152.6 -230.7 15 16 17 1643.7 1351.4 2480.4 2520.1 1240.3 -395.4 -1644.8 120.4 -193.0 135.6 -71.4 18 18 Net change in liabilities Q2 Net change in assets 19 20 21 22 Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business 52.5 550.6 234.9 2.0 58.0 440.1 256.0 1.3 37.4 717.6 378.9 4.1 66.1 928.2 328.4 3.4 55.2 188.5 116.2 1.8 22.4 150.0 -147.0 0.4 -11.8 62.7 -115.9 0.4 8.8 323.3 -145.8 0.4 27.8 14.9 -173.5 0.4 64.7 199.3 -152.6 0.4 19.7 565.6 -156.6 -0.2 19 20 21 22 23 24 25 State and local governments Federal government Rest of the world 10.1 3.3 219.0 -8.9 -0.3 164.8 74.2 3.1 587.5 130.1 1.9 555.9 117.8 -28.0 95.2 70.5 35.2 125.2 16.7 11.1 -231.1 188.1 -18.4 305.6 62.3 -45.3 304.4 14.8 193.4 121.8 91.5 4.3 -116.7 23 24 25 26 27 28 29 Monetary authority Commercial banking Savings institutions Credit unions 1.5 255.5 88.6 -1.8 -3.2 94.3 -58.8 -0.3 0.1 148.6 -4.5 0.8 25.8 137.0 6.2 11.0 530.2 694.9 -25.4 8.4 -493.8 -124.3 -15.1 6.4 -954.4 -297.1 72.5 51.3 -674.4 178.9 -90.6 0.5 -191.1 -349.8 -19.2 -7.6 -155.4 -29.1 -23.1 -18.7 -34.0 -104.1 40.4 -66.7 26 27 28 29 30 31 32 33 34 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 9.1 25.8 -34.7 4.6 40.9 10.8 21.4 -10.4 -0.6 40.0 3.1 41.1 1.3 1.0 35.8 12.8 39.9 17.5 -0.6 33.3 11.8 47.7 11.3 -0.0 63.3 7.1 -115.1 21.6 0.5 61.9 -2.1 -126.5 -2.2 -0.6 0.9 -0.0 -184.3 65.5 0.4 39.0 21.6 -51.6 11.2 1.8 42.6 8.9 -97.8 12.1 0.7 165.1 17.5 -24.1 -43.2 0.6 22.3 30 31 32 33 34 35 36 37 Money market mutual funds Mutual funds Government-sponsored enterprises -2.9 5.1 4.5 -10.0 3.7 4.0 15.9 3.3 -3.2 31.8 2.8 27.0 -43.1 3.2 -46.7 11.3 -5.1 -17.2 9.4 -15.8 29.3 0.4 4.9 55.0 -16.7 7.0 -110.4 52.0 -16.5 -42.8 -31.4 -0.0 -320.6 35 36 37 38 39 40 41 Finance companies REITs Brokers and dealers Funding corporations -26.1 11.1 148.6 41.5 52.2 11.6 217.7 67.9 -30.2 7.8 425.1 31.9 1.7 -4.4 47.3 116.9 11.8 -0.7 -615.1 42.1 31.9 -8.4 54.9 -68.9 74.0 -2.9 -247.9 35.2 64.3 -16.1 274.0 -258.9 -12.1 -0.5 436.7 -145.7 1.7 -14.0 -243.0 93.8 -55.8 6.6 168.4 -55.0 38 39 40 41 -82.3 -87.0 -624.8 21.7 1028.2 494.5 1911.2 -650.9 821.0 -103.3 1188.3 42 42 Discrepancy 56 Z.1, June 10, 2010 F.229 Identified Miscellaneous Financial Claims - Part I Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 U.S. direct investment abroad (1): 1 2 3 4 5 6 7 8 9 10 Liab.: Rest of the world Equity Reinvested earnings Intercompany accounts Asset: Nonfinancial corporate business Commercial banking Property-casualty insurance companies Life insurance companies Finance companies Brokers and dealers 316.2 133.3 162.9 20.0 272.4 8.2 9.1 1.8 -8.9 33.6 36.2 61.9 -10.3 -15.4 24.7 0.5 10.8 1.4 4.5 -5.7 244.9 49.0 217.3 -21.4 219.2 -1.7 3.1 0.8 8.0 15.6 398.6 174.9 239.0 -15.3 297.4 29.6 12.8 5.4 4.2 49.2 332.0 90.2 251.5 -9.7 264.4 18.7 11.8 3.6 6.9 26.6 221.0 24.9 203.4 -7.4 204.9 -2.6 7.1 2.4 5.0 4.1 163.6 14.8 151.1 -2.3 171.6 -7.8 -2.1 -4.0 2.8 3.2 192.3 -5.5 204.1 -6.2 207.5 -33.1 -0.0 9.3 5.9 2.6 274.1 40.4 200.4 33.3 213.9 20.4 21.6 3.3 9.7 5.2 253.8 50.1 258.3 -54.5 226.7 10.3 8.9 1.0 1.4 5.6 263.5 60.7 218.2 -15.4 218.3 12.2 17.5 1.8 6.5 7.3 1 2 3 4 5 6 7 8 9 10 95.7 0.1 17.9 -4.8 20.8 13.0 3.1 0.3 146.0 92.9 49.5 3.5 98.7 0.1 9.4 -0.1 0.4 6.3 -2.6 0.6 112.6 70.7 41.7 0.2 191.0 0.2 13.8 23.1 14.4 5.2 -5.1 0.6 243.2 115.0 69.1 59.0 281.3 0.4 -4.8 2.4 -0.9 -5.1 1.9 0.6 275.8 155.4 49.4 71.0 214.2 0.1 20.7 18.2 9.1 17.4 39.5 0.6 319.7 250.2 54.6 15.0 106.5 0.2 5.9 4.8 15.6 7.2 11.2 0.6 152.1 92.5 25.6 34.0 108.3 0.1 -9.9 -31.5 16.8 0.6 11.0 0.6 96.1 79.6 -46.2 62.7 66.1 0.1 20.4 6.9 31.4 17.6 5.0 0.6 148.0 88.4 30.4 29.3 133.2 0.1 11.5 26.7 11.2 5.9 0.7 0.6 189.9 104.9 42.6 42.3 118.6 0.4 1.7 17.2 2.9 4.7 28.2 0.6 174.3 97.2 75.4 1.8 104.0 0.4 7.6 -6.4 4.2 2.5 19.3 0.6 132.1 88.8 39.2 4.1 11 12 13 14 15 16 17 18 19 20 21 22 2.0 2.0 1.3 1.3 2.0 2.0 1.7 1.7 1.4 1.4 1.7 1.7 0.6 0.6 5.2 5.2 0.3 0.3 0.6 0.6 -1.4 -1.4 23 24 3.1 3.1 1.6 1.6 1.8 1.8 3.1 3.1 2.6 2.6 4.6 4.6 5.9 5.9 6.8 6.8 2.7 2.7 2.9 2.9 2.5 2.5 25 26 2.5 0.0 -0.1 0.2 0.0 0.6 1.0 0.2 0.6 1.9 0.0 -0.1 0.1 0.0 0.8 1.1 0.1 -0.1 0.2 0.0 0.1 0.2 0.0 2.7 -2.9 0.2 0.0 9.1 0.0 0.3 0.5 0.0 3.8 3.3 0.6 0.6 -0.3 0.0 0.9 -0.5 0.0 -1.0 -0.9 0.3 1.0 -3.9 0.0 0.7 -0.0 0.0 -0.9 -3.0 -0.4 -0.3 -8.7 0.0 0.0 0.5 0.0 -3.8 -4.0 -1.3 -0.0 7.2 0.0 0.8 -0.4 0.0 10.0 -3.6 0.4 0.1 -2.8 0.0 1.4 -0.8 0.0 -1.5 -1.5 -0.0 -0.4 -11.3 0.0 0.7 0.5 0.0 -8.2 -2.7 -0.5 -1.0 -3.1 0.0 -0.1 0.2 0.0 -2.6 -0.2 -0.0 -0.4 27 28 29 30 31 32 33 34 35 167.2 3.4 2.5 52.3 18.1 243.5 40.0 3.7 9.7 -38.9 68.2 82.7 110.0 2.1 2.7 3.2 38.3 156.2 126.1 0.6 5.3 41.5 -110.3 63.1 48.2 6.3 -12.5 -7.3 67.6 102.4 102.8 -9.5 9.3 -23.3 -162.4 -83.1 7.7 -30.4 -5.8 -25.4 -139.8 -193.8 61.7 1.1 16.6 -54.2 -11.0 14.3 240.1 -1.5 27.9 -17.2 -199.4 49.9 101.7 -7.0 -1.6 3.5 -299.5 -202.8 -19.5 3.8 10.9 -9.3 308.3 294.2 36 37 38 39 40 41 2.6 2.6 64.4 64.4 22.9 22.9 -54.8 -54.8 -1.1 -1.1 -9.3 -9.3 -14.0 -14.0 -18.4 -18.4 -5.9 -5.9 1.2 1.2 -3.2 -3.2 42 43 33.0 8.4 41.5 21.0 46.9 67.9 8.6 23.3 31.9 43.7 73.2 116.9 35.6 6.4 42.1 -75.7 6.8 -68.9 -29.2 64.4 35.2 -179.5 -79.4 -258.9 -101.3 -44.4 -145.7 7.2 86.6 93.8 -56.2 1.2 -55.0 44 45 46 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 1.2 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9.6 4.8 4.8 13.4 6.7 6.7 47 48 49 Foreign direct investment in U.S. (1): 11 12 13 14 15 16 17 18 19 20 21 22 Liab.: Nonfinancial corporate business Nonfarm noncorporate business Commercial banking Property-casualty insurance companies Life insurance companies Finance companies Brokers and dealers Funding corporations Asset: Rest of the world Equity Reinvested earnings Intercompany accounts Federal government equity in IBRD, etc.: 23 24 Liab.: Rest of the world Asset: Federal government Federal Reserve Bank stock: 25 26 Liab.: Monetary authority Asset: Commercial banking Equity in govt.-sponsored enterprises: 27 28 29 30 31 32 33 34 35 Liab.: Government-sponsored enterprises Asset: Nonfin. corporate business (Fannie Mae) Nonfarm noncorporate (BC) Farm business (FICB and FLB) Federal government Commercial banks (FHLB) Savings institutions (FHLB) Credit unions (FHLB) Life insurance companies (FHLB) BHC investment in subsidiaries: 36 37 38 39 40 41 Liab.: Commercial banking Savings institutions Life insurance companies Finance companies Brokers and dealers Asset: Bank holding companies NFC investment in finance company subs.: 42 43 Liab.: Finance companies Asset: Nonfinancial corporate business Funding corp. investment in subs.: 44 45 46 Liab.: Foreign banking offices in U.S. Brokers and dealers Asset: Funding corporations Equity investment under Public-Private Inv. Program: 47 48 49 Liab.: Funding corporations Asset: Households (2) Federal government (1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts-are not available before 1982. (2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP). 57 Z.1, June 10, 2010 F.230 Identified Miscellaneous Financial Claims - Part II Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 Nonofficial foreign currencies: 1 2 3 Liab.: Rest of the world Asset: Federal government Monetary authority (1) -0.0 -0.0 0.0 -2.2 -2.2 0.0 -0.0 -0.0 0.0 23.9 -0.1 24.0 529.8 0.0 529.7 -543.4 0.0 -543.5 -975.4 -0.2 -975.2 -781.1 0.3 -781.3 -231.3 0.0 -231.3 -185.9 -0.0 -185.9 -40.8 0.3 -41.1 1 2 3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4 5 -2.1 -2.1 0.8 0.8 -0.2 -0.2 1.9 1.9 -5.4 -5.4 0.4 0.4 14.0 14.0 -3.3 -3.3 -14.0 -14.0 5.0 5.0 21.0 21.0 6 7 1.6 1.6 1.0 1.0 0.5 0.5 1.0 1.0 3.2 3.2 -4.9 -4.9 -2.0 -2.0 -6.7 -6.7 -1.5 -1.5 -9.5 -9.5 10.1 10.1 8 9 Postal Savings System deposits: 4 5 Liab.: Federal government Asset: Household sector Deposits at Federal Home Loan Banks: 6 7 Liab.: Government-sponsored enterprises Asset: Savings institutions Deferred and unpaid life insurance premiums: 8 9 Liab.: Household sector Asset: Life insurance companies Life insurance company reserves: 10 11 12 13 Liab.: Life insurance companies Health Policy dividend accumulation Policy and contract claims 11.4 9.8 1.2 0.5 9.5 7.9 1.0 0.6 14.8 11.5 0.8 2.5 15.5 13.5 0.2 1.8 17.6 19.5 -3.4 1.5 8.4 9.7 -1.1 -0.1 9.0 8.8 6.7 -6.5 5.9 9.0 -3.7 0.5 22.8 22.8 -2.4 2.3 -4.0 -1.8 -5.2 3.1 7.9 4.2 -0.3 4.1 10 11 12 13 14 Asset: Household sector 11.4 9.5 14.8 15.5 17.6 8.4 9.0 5.9 22.8 -4.0 7.9 14 Policy payables: 15 Liab.: Property-casualty insurance companies 47.9 52.3 16.6 18.7 25.4 -5.0 -8.0 -1.9 3.2 -13.3 17.6 15 16 17 18 19 Asset: Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business 23.6 18.9 3.5 1.8 25.6 20.7 4.9 1.2 4.6 6.6 1.6 3.9 6.7 7.4 1.7 2.9 11.1 9.9 2.1 2.3 -3.8 -1.8 0.2 0.4 -4.0 -3.2 -0.7 -0.1 -1.8 -0.8 -0.2 0.8 0.5 1.3 0.3 1.1 -10.0 -4.7 1.5 -0.2 9.4 6.9 1.7 -0.5 16 17 18 19 -35.2 -35.2 -1.4 -1.4 -1.5 -1.5 26.3 26.3 38.2 38.2 10.1 10.1 14.6 14.6 20.1 20.1 -3.8 -3.8 9.6 9.6 -27.7 -27.7 20 21 -3.1 -3.1 -1.9 -1.9 -2.0 -2.0 4.4 4.4 0.7 0.7 2.5 2.5 3.5 3.5 18.2 18.2 -7.0 -7.0 -4.6 -4.6 -2.2 -2.2 22 23 86.9 86.9 174.9 174.9 302.6 302.6 -2.1 -2.1 -353.2 -353.2 -30.2 -30.2 -339.3 -339.3 165.9 165.9 182.2 182.2 -129.6 -129.6 -68.3 -68.3 24 25 40.9 40.9 40.0 40.0 35.8 35.8 33.3 33.3 63.3 63.3 61.9 61.9 0.9 0.9 39.0 39.0 42.6 42.6 165.1 165.1 22.3 22.3 26 27 17.4 17.4 23.0 23.0 18.1 18.1 43.9 43.9 26.5 26.5 16.6 16.6 -16.8 -16.8 4.7 4.7 4.5 4.5 73.9 73.9 -4.3 -4.3 28 29 Unallocated insurance company contracts: 20 21 Liab.: Life insurance companies Asset: Private pension funds Pension fund contributions payable: 22 23 Liab.: Nonfinancial corporate business Asset: Private pension funds Securities borrowed (net): 24 25 Liab.: Funding corporations Asset: Brokers and dealers Nonmarketable government securities: 26 27 Liab.: Federal government Asset: Federal government retirement funds Retiree Health Care Funds (2): 28 29 Liab.: Federal government Asset: Household sector (1) Reciprocal currency arrangements (swap lines) with foreign central banks. (2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund. 58 Z.1, June 10, 2010 F.231 Unidentified Miscellaneous Financial Claims Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 1 Net change in liabilities Q2 Q3 Q4 2010 Q1 638.5 599.8 767.9 1561.5 1123.7 366.2 1481.2 -87.7 267.7 -196.5 538.2 1 2 3 Nonfinancial corporate business Nonfarm noncorporate business 337.8 68.8 682.6 142.7 632.3 144.6 987.3 93.9 482.3 28.5 363.8 17.4 603.6 -13.3 195.9 12.9 53.9 20.1 601.8 49.8 329.1 -12.1 2 3 4 5 6 Federal government Rest of the world Monetary authority 1.0 222.0 1.2 5.0 -8.6 1.1 5.6 222.2 1.4 -0.6 77.1 -0.7 -0.3 -268.7 -0.5 2.9 170.4 1.5 -22.5 198.3 -33.2 18.9 80.1 29.1 -6.3 416.9 -44.9 21.7 -13.6 55.0 -16.8 303.1 -35.9 4 5 6 7 8 9 10 11 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 16.6 28.0 -170.1 148.0 10.8 -37.8 -74.5 24.2 12.8 -0.3 -107.1 -50.0 -131.3 78.7 -4.4 -5.7 -95.2 105.9 -4.8 -11.6 259.6 -53.3 493.2 -175.7 -4.5 -274.7 148.6 -348.2 -78.4 3.3 -152.5 93.3 -84.6 -161.7 0.5 -111.3 211.1 -367.3 48.9 -4.0 -242.5 126.3 -401.5 8.9 23.6 -592.4 163.6 -539.5 -209.6 -7.0 181.9 53.4 53.8 85.9 -11.2 7 8 9 10 11 12 13 14 15 Savings institutions Credit unions Life insurance companies Government-sponsored enterprises 27.1 1.9 8.4 -8.3 23.6 2.6 1.4 -4.6 17.6 -2.7 20.5 11.6 21.6 -5.6 21.3 6.7 -36.4 1.1 -5.6 46.7 -41.1 14.7 -96.3 61.8 36.5 72.9 -73.2 126.3 -110.6 -4.6 -175.1 4.9 -78.4 -10.1 8.1 80.3 -11.8 0.6 -144.9 35.6 4.9 -19.4 69.8 12.0 12 13 14 15 16 17 18 19 Finance companies REITs Brokers and dealers Funding corporations -14.7 8.1 41.2 -72.7 -3.7 4.3 -86.2 -122.6 -17.8 7.8 41.4 -209.6 11.5 3.4 74.4 276.8 1.4 -3.7 -200.5 819.8 -65.8 -22.8 171.8 62.5 91.9 -48.2 -3.9 698.4 -31.4 4.2 413.5 -414.2 -79.0 -23.3 228.0 -55.1 -244.9 -24.0 49.8 21.0 52.0 22.2 -176.2 -176.4 16 17 18 19 720.8 686.7 1392.7 1539.8 95.5 -128.3 -430.1 563.1 -553.3 -93.1 -650.1 20 256.7 231.4 10.1 330.3 251.2 -8.9 469.0 377.2 74.2 678.3 326.4 130.1 -84.8 113.3 117.8 -43.8 -147.9 70.5 -91.7 -115.2 16.7 134.9 -146.4 188.1 -194.4 -175.2 62.3 -23.9 -154.8 14.8 343.6 -158.2 91.5 21 22 23 1.4 73.1 1.5 0.6 52.2 -3.2 1.0 344.4 0.1 0.4 280.1 1.8 -29.4 -224.5 0.5 32.3 -26.9 49.6 10.8 -327.2 20.9 -23.9 157.6 107.0 -45.6 114.5 40.2 188.1 -52.5 30.5 -1.3 -248.8 7.1 24 25 26 0.2 86.7 -119.8 32.4 0.9 8.6 24.4 -32.2 16.2 0.1 -10.5 97.2 -143.9 35.6 0.6 37.4 -15.3 14.7 31.7 6.1 572.2 114.5 364.1 94.5 -1.0 -42.3 42.3 -120.1 40.0 -4.5 -97.6 -409.4 -36.8 352.8 -4.3 180.9 471.0 -233.8 -52.5 -3.8 -421.3 -248.4 -127.7 -40.9 -4.2 168.8 356.0 -82.2 -99.2 -5.9 -410.3 -415.9 73.0 -71.7 4.3 27 28 29 30 31 20 Net change in assets 21 22 23 Nonfinancial corporate business Nonfarm noncorporate business State and local governments 24 25 26 Federal government Rest of the world Monetary authority 27 28 29 30 31 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 32 33 Savings institutions Credit unions 89.7 -2.1 -60.6 -0.5 -1.4 0.6 1.0 10.4 -19.2 8.1 -12.5 6.8 62.6 52.7 -83.7 0.2 -3.6 -7.6 -25.3 -18.2 19.6 -66.7 32 33 34 35 36 Life insurance companies Private pension funds State and local govt. retirement funds 21.9 3.6 4.6 19.2 -7.1 -0.6 39.8 4.8 1.0 32.9 -13.2 -0.6 39.9 -27.6 -0.0 -112.2 9.0 0.5 -120.5 -20.3 -0.6 -187.1 27.2 0.4 -53.0 21.9 1.8 -88.3 7.1 0.7 -35.6 -13.3 0.6 34 35 36 37 38 39 Money market mutual funds Mutual funds Government-sponsored enterprises -2.9 5.1 4.5 -10.0 3.7 4.0 15.9 3.3 -3.2 31.8 2.8 27.0 -43.1 3.2 -46.7 11.3 -5.1 -17.2 9.4 -15.8 29.3 0.4 4.9 55.0 -16.7 7.0 -110.4 52.0 -16.5 -42.8 -31.4 -0.0 -320.6 37 38 39 40 41 42 Finance companies REITs Brokers and dealers -17.2 11.1 28.1 47.7 11.6 48.5 -38.2 7.8 106.9 -2.5 -4.4 0.1 5.0 -0.7 -288.5 27.0 -8.4 81.0 71.2 -2.9 88.3 58.3 -16.1 105.4 -21.9 -0.5 249.2 0.3 -14.0 -119.0 -62.2 6.6 229.4 40 41 42 -82.3 -87.0 -624.8 21.7 1028.2 494.5 1911.2 -650.9 821.0 -103.3 1188.3 43 43 Discrepancy 59 Z.1, June 10, 2010 F.11 Sector Discrepancies Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 All sectors 2 3 Household sector Nonfinancial corporate business 4 5 6 State and local governments Federal government Rest of the world 7 Financial sectors 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 -104.2 15.1 51.6 -189.9 337.3 558.2 911.6 446.6 396.2 478.6 599.9 1 -74.9 -101.0 61.4 122.8 254.0 88.9 -263.0 134.5 -700.4 528.7 245.8 172.8 290.2 554.4 802.5 75.7 -200.9 -4.9 91.4 65.8 219.4 41.6 2 3 -72.8 2.9 89.9 -73.3 22.7 17.4 -120.4 13.1 -2.7 -96.6 23.9 65.2 -105.5 83.5 200.8 -101.9 -69.0 201.9 -74.1 -47.2 275.7 -288.1 95.1 144.7 -56.7 -153.5 88.5 11.2 -170.3 298.8 7.3 -103.3 53.3 4 5 6 51.7 -135.8 -181.4 -53.9 330.2 108.6 -87.5 -383.3 723.5 181.8 381.6 7 8 9 Monetary authority Commercial banking -2.5 55.2 3.1 -92.8 0.7 -195.7 -2.3 -143.6 -0.8 8.0 -0.7 198.9 -10.6 2.0 0.8 18.6 -1.6 807.4 8.4 -32.4 4.9 72.3 8 9 10 11 Savings institutions Credit unions -17.3 1.5 -8.0 2.2 -5.9 1.2 23.7 2.1 46.7 3.9 7.1 8.4 -62.2 29.3 31.7 -10.3 4.2 3.8 54.6 10.6 -6.4 5.0 10 11 12 13 Property-casualty insurance companies Life insurance companies -13.6 -36.9 -14.8 -8.4 31.2 -29.1 4.2 -50.1 40.8 -12.4 1.4 -75.1 -6.8 -105.6 -8.2 -22.6 23.3 -60.6 -2.8 -111.8 21.1 -2.6 12 13 14 15 Mutual funds Government-sponsored enterprises 3.6 -9.0 21.1 -14.8 11.4 -1.8 21.6 27.7 20.6 118.9 27.8 71.3 7.8 54.6 19.5 -15.1 40.3 89.3 43.4 156.4 43.8 260.1 14 15 16 17 18 19 Issuers of asset-backed securities Finance companies REITs Brokers and dealers 0.0 31.5 35.8 3.4 0.0 -20.7 6.7 -9.5 0.0 29.9 0.4 -23.6 0.0 26.1 32.0 4.5 0.0 4.9 -29.9 129.7 0.0 -19.5 -58.5 -52.2 -0.0 -53.2 -95.2 152.3 0.0 -116.5 -49.7 -231.5 0.0 20.9 -52.2 -151.3 0.0 70.8 -37.1 21.7 0.0 50.1 -24.9 -41.9 16 17 18 19 F.12 Instrument Discrepancies Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 All types -104.2 15.1 51.6 -189.9 337.3 558.2 911.6 446.6 396.2 478.6 599.9 1 -0.3 61.9 0.7 12.3 -1.1 106.8 -1.2 204.2 -0.8 -308.7 -4.4 -182.0 -14.4 -64.6 -0.7 -413.5 -1.5 -156.2 -0.9 -93.8 -0.2 -53.8 2 3 14.9 -133.2 -3.6 103.6 -1.9 197.5 1.8 -343.5 30.6 -298.4 34.4 341.7 49.8 -876.8 137.1 1466.7 -96.8 -47.8 47.7 824.6 -59.9 -140.7 4 5 27.9 -9.7 -6.6 1.7 -3.0 -0.0 1.2 -0.1 -3.3 -2.0 0.7 -1.0 19.5 -1.4 5.0 0.7 -10.0 -4.2 -11.6 0.7 20.2 -5.9 6 7 2 3 Treasury currency Foreign deposits 4 5 Net interbank transactions Security RPs 6 7 Mail floats: Federal government Other 8 9 Trade credit Taxes payable 11.3 -13.2 -30.4 -45.6 145.9 17.3 -49.4 -40.9 31.0 -38.3 132.9 -31.3 141.7 -43.0 140.8 -71.9 106.9 43.1 142.3 -53.4 32.9 -99.2 8 9 10 Miscellaneous -82.3 -87.0 -624.8 21.7 1028.2 494.5 1911.2 -650.9 821.0 -103.3 1188.3 10 11 Nonfinancial 18.5 70.0 214.7 16.2 -101.1 -227.3 -210.5 -166.8 -258.3 -273.7 -281.8 11 -7.9 -15.0 4.4 -79.7 5.0 4.7 -220.6 1.3 4.6 -14.8 -6.3 4.8 101.0 -5.0 5.0 217.3 5.0 5.1 185.4 20.0 5.1 161.7 0.0 5.1 253.3 0.0 5.0 268.7 0.0 5.0 276.6 0.0 5.1 12 13 14 12 13 14 Nonfinancial components (sign reversed): Statistical discrepancy (NIPA) Private wage accruals less disbursements Contr. for govt. soc. insur., U.S. affiliated areas 60 Z.1, June 10, 2010 L.1 Credit Market Debt Outstanding (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 6 7 8 Total credit market debt owed by: Domestic nonfinancial sectors Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business State and local governments Federal government 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 34647.1 37817.7 41280.3 45359.4 50051.2 52589.0 52902.1 52673.3 52506.8 52328.4 52126.9 1 22444.5 24443.4 26770.4 29186.1 31717.4 33615.8 34008.0 34270.9 34506.3 34654.8 35079.4 2 9505.0 4970.8 2210.2 157.1 1568.5 4033.1 10569.6 5168.1 2455.3 172.9 1682.6 4395.0 11742.9 5494.1 2786.9 190.1 1854.5 4701.9 12929.5 5963.3 3195.6 204.3 2008.2 4885.3 13802.1 6724.5 3650.3 218.9 2199.3 5122.3 13843.0 7100.2 3845.2 219.4 2246.5 6361.5 13754.8 7135.6 3796.0 218.6 2276.0 6826.9 13710.1 7142.8 3727.5 221.3 2303.9 7165.3 13669.6 7111.2 3639.3 221.9 2320.4 7544.0 13602.1 7113.2 3554.5 224.8 2354.7 7805.4 13503.1 7206.4 3482.5 220.7 2383.5 8283.2 3 4 5 6 7 8 9 Rest of the world 1253.3 1438.8 1513.9 1882.6 2126.3 1864.4 1896.4 1950.8 2020.1 2064.0 2084.2 9 10 Financial sectors 10949.3 11935.6 12996.0 14290.7 16207.5 17108.8 16997.7 16451.5 15980.4 15609.7 14963.3 10 11 12 13 14 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies 660.4 338.0 0.6 321.8 738.7 356.7 0.7 381.3 823.9 393.6 0.8 429.5 998.0 497.8 0.5 499.7 1261.2 629.6 0.5 631.1 1422.0 708.6 0.0 713.3 1724.9 626.1 0.0 1098.8 1720.8 617.8 0.0 1103.0 1685.1 562.4 0.0 1122.7 1625.3 556.1 0.0 1069.2 1923.2 854.9 0.0 1068.3 11 12 13 14 15 16 Savings institutions Credit unions 313.4 9.1 404.8 11.4 427.3 14.7 319.1 18.9 423.3 32.3 356.1 40.6 321.8 30.3 253.2 28.5 192.3 28.3 152.3 26.5 143.3 25.4 15 16 17 18 19 20 Life insurance companies Government-sponsored enterprises Agency- and GSE-backed mortgage pools ABS issuers 8.0 2601.3 3343.3 2222.9 11.1 2676.3 3384.0 2662.2 11.5 2592.2 3548.5 3391.7 14.2 2627.8 3841.1 4199.4 28.7 2910.2 4464.4 4535.4 54.9 3181.9 4961.4 4123.5 52.5 3118.3 5042.0 3927.8 50.5 2948.1 5170.7 3756.2 47.5 2800.5 5297.5 3567.3 48.3 2706.6 5376.4 3379.9 45.6 6703.8 1048.0 2799.7 17 18 19 20 21 22 23 24 Finance companies REITs Brokers and dealers Funding corporations 995.3 230.7 47.0 518.1 1129.6 340.1 62.2 515.1 1108.6 395.5 62.4 619.9 1144.2 411.0 68.8 648.2 1279.6 421.2 64.8 786.4 1200.3 372.6 142.6 1252.9 1148.0 364.0 102.4 1165.7 1102.2 352.5 102.2 966.5 1074.9 347.8 104.1 835.0 1044.1 338.7 92.9 818.8 1048.1 343.6 92.2 790.4 21 22 23 24 34647.1 37817.7 41280.3 45359.4 50051.2 52589.0 52902.1 52673.3 52506.8 52328.4 52126.9 25 4461.8 4854.1 5390.5 5655.5 6244.4 6118.3 6609.6 6355.8 6477.4 6375.3 6564.3 26 2723.1 266.8 73.9 1125.6 272.4 2997.9 298.0 85.4 1198.1 274.7 3327.4 340.4 96.8 1352.0 273.8 3479.4 328.8 96.7 1470.6 279.9 4089.4 249.7 106.7 1512.0 286.5 4024.9 221.8 113.0 1385.6 373.1 4460.1 198.9 111.4 1381.8 457.4 4105.5 212.4 109.4 1375.2 553.2 4153.3 205.0 107.1 1373.6 638.3 3983.1 220.5 105.0 1368.5 698.0 4180.2 212.4 102.9 1344.6 724.2 27 28 29 30 31 32 25 26 27 28 29 30 31 Total credit market assets held by: Domestic nonfinancial sectors Household sector Nonfinancial corporate business Nonfarm noncorporate business State and local governments Federal government 32 Rest of the world 3836.1 4634.7 5191.3 6200.1 7272.5 7594.2 7669.7 7719.6 7740.1 7827.4 7993.9 33 Financial sectors 26349.2 28329.0 30698.5 33503.9 36534.2 38876.4 38622.8 38597.8 38289.3 38125.8 37568.7 33 34 35 36 37 38 39 40 41 Monetary authority Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas Savings institutions Credit unions 666.7 6010.9 5407.3 490.3 36.4 76.9 1294.2 516.6 717.8 6621.2 5980.7 513.3 36.4 90.8 1417.7 556.4 744.2 7278.4 6487.4 657.8 32.2 101.0 1617.1 592.6 778.9 8040.5 7144.1 761.6 35.6 99.3 1533.2 622.7 740.6 8781.6 7666.8 963.3 58.7 92.8 1596.1 657.9 986.0 9425.1 8197.9 1063.7 72.6 90.9 1320.0 697.9 1168.1 9297.3 8143.4 993.2 71.5 89.2 1311.5 698.6 1469.5 9278.3 8223.3 890.2 75.5 89.5 1212.2 717.0 1776.6 9025.8 8003.9 854.5 76.5 90.9 1188.2 725.9 1987.7 9001.4 8055.5 782.7 75.1 88.1 1079.2 731.0 2151.8 9218.5 8282.5 773.5 78.7 83.8 1080.8 735.9 34 35 36 37 38 39 40 41 42 43 44 45 46 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 660.5 2478.8 653.5 657.5 63.6 746.5 2643.9 654.6 675.3 68.2 819.3 2753.9 699.9 693.4 76.0 864.1 2786.4 758.3 808.0 84.3 869.3 2871.2 860.8 820.3 96.1 853.4 2882.8 951.4 833.5 120.3 855.6 2945.8 987.9 827.0 124.5 863.2 2975.7 1005.1 823.8 124.7 873.2 3019.8 1037.7 819.2 125.8 887.5 3061.3 1063.0 818.1 127.7 890.5 3090.1 1092.4 817.2 129.4 42 43 44 45 46 47 48 49 50 51 52 53 Money market mutual funds Mutual funds Closed-end funds Exchange-traded funds Government-sponsored enterprises Agency- and GSE-backed mortgage pools ABS issuers 1471.3 1506.4 152.6 4.5 2564.2 3343.3 2125.0 1346.3 1623.0 163.6 8.2 2613.0 3384.0 2554.8 1340.8 1747.1 165.8 15.0 2543.9 3548.5 3287.7 1560.8 1932.0 171.8 20.7 2590.5 3841.1 4087.5 1936.4 2203.1 170.9 34.0 2829.5 4464.4 4420.6 2675.0 2276.4 131.2 57.0 3033.6 4961.4 4025.3 2575.2 2319.9 131.5 69.0 2973.2 5042.0 3839.0 2418.1 2436.0 135.9 80.5 2900.7 5170.7 3676.1 2163.8 2540.0 139.3 91.5 2803.6 5297.5 3497.2 2031.2 2657.2 141.5 102.9 2688.7 5376.4 3316.5 1832.7 2781.8 143.9 113.2 6532.9 1048.0 2743.0 47 48 49 50 51 52 53 54 55 56 57 Finance companies REITs Brokers and dealers Funding corporations 1468.7 96.4 424.1 190.6 1675.9 198.7 394.9 264.7 1740.6 239.7 477.2 317.4 1811.6 265.8 583.4 362.2 1828.2 244.7 803.1 305.2 1755.9 180.8 717.4 991.9 1703.4 180.5 594.0 978.6 1651.1 188.3 599.2 871.7 1610.4 188.9 533.4 831.6 1532.6 182.5 525.3 813.9 1556.9 189.5 551.2 869.0 54 55 56 57 (1) Excludes corporate equities and mutual fund shares. 61 Z.1, June 10, 2010 L.2 Credit Market Debt Owed by Nonfinancial Sectors Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Domestic By instrument Commercial paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate bonds Bank loans n.e.c. Other loans and advances Mortgages Home Multifamily residential Commercial Farm Consumer credit By sector Household sector Nonfinancial business Corporate Nonfarm noncorporate Farm State and local governments Federal government 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 22444.5 24443.4 26770.4 29186.1 31717.4 33615.8 34008.0 34270.9 34506.3 34654.8 35079.4 1 22444.5 82.5 4008.2 24.9 1900.4 2900.1 1085.3 1069.1 24443.4 97.8 4370.7 24.3 2030.9 2975.5 1090.5 1127.8 26770.4 90.1 4678.0 23.8 2225.9 3032.2 1225.0 1247.1 29186.1 112.5 4861.7 23.5 2403.3 3247.8 1400.3 1403.7 31717.4 123.8 5099.2 23.1 2618.9 3558.9 1646.9 1714.7 33615.8 131.5 6338.2 23.3 2676.0 3763.5 1839.5 1790.0 34008.0 106.9 6804.4 22.5 2708.1 3908.3 1760.1 1734.2 34270.9 86.2 7143.1 22.3 2743.7 4007.4 1689.2 1696.4 34506.3 73.0 7520.8 23.2 2764.8 4075.0 1613.4 1651.2 34654.8 59.1 7781.9 23.5 2803.7 4145.0 1553.4 1635.7 35079.4 74.6 8259.6 23.6 2834.3 4248.2 1560.6 1623.9 2 3 4 5 6 7 8 9 9271.1 7239.9 535.8 1412.3 83.2 2102.9 10505.8 8268.2 579.4 1562.5 95.7 2220.1 11927.8 9382.4 641.8 1798.8 104.8 2320.6 13317.4 10455.6 682.2 2071.6 108.0 2416.0 14376.4 11165.9 766.8 2331.1 112.7 2555.3 14459.6 11070.6 815.4 2443.5 130.1 2594.1 14445.5 11059.8 816.7 2436.8 132.2 2517.9 14394.8 11011.6 824.6 2424.3 134.2 2487.9 14288.3 10923.5 829.6 2398.8 136.3 2496.7 14173.6 10858.7 822.2 2354.3 138.5 2478.9 14032.8 10749.1 825.1 2320.3 138.4 2421.8 10 11 12 13 14 15 22444.5 9505.0 7338.0 4970.8 2210.2 157.1 1568.5 4033.1 24443.4 10569.6 7796.3 5168.1 2455.3 172.9 1682.6 4395.0 26770.4 11742.9 8471.1 5494.1 2786.9 190.1 1854.5 4701.9 29186.1 12929.5 9363.2 5963.3 3195.6 204.3 2008.2 4885.3 31717.4 13802.1 10593.7 6724.5 3650.3 218.9 2199.3 5122.3 33615.8 13843.0 11164.8 7100.2 3845.2 219.4 2246.5 6361.5 34008.0 13754.8 11150.2 7135.6 3796.0 218.6 2276.0 6826.9 34270.9 13710.1 11091.6 7142.8 3727.5 221.3 2303.9 7165.3 34506.3 13669.6 10972.4 7111.2 3639.3 221.9 2320.4 7544.0 34654.8 13602.1 10892.5 7113.2 3554.5 224.8 2354.7 7805.4 35079.4 13503.1 10909.6 7206.4 3482.5 220.7 2383.5 8283.2 16 17 18 19 20 21 22 23 24 Foreign credit market debt held in U.S. 1253.3 1438.8 1513.9 1882.6 2126.3 1864.4 1896.4 1950.8 2020.1 2064.0 2084.2 24 25 26 27 28 Commercial paper Bonds Bank loans n.e.c. Other loans and advances 276.1 868.9 66.1 42.2 345.3 985.0 69.9 38.6 384.0 1011.6 84.4 34.0 482.3 1275.5 98.3 26.6 413.0 1587.1 102.8 23.4 342.0 1392.9 107.9 21.6 344.8 1427.3 103.1 21.2 345.7 1482.1 101.6 21.4 396.6 1502.9 99.2 21.4 399.8 1545.8 96.8 21.6 384.7 1580.7 97.0 21.8 25 26 27 28 23697.8 25882.2 28284.3 31068.8 33843.7 35480.2 35904.4 36221.7 36526.4 36718.8 37163.6 29 29 Domestic and foreign L.3 Credit Market Debt Owed by Financial Sectors Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 5 6 7 8 9 By instrument Open market paper GSE issues Agency- and GSE-backed mortgage pool sec. Corporate bonds Bank loans n.e.c. Other loans and advances Mortgages By sector 10 11 12 13 Commercial banks Bank holding companies Savings institutions Credit unions 14 15 16 17 Life insurance companies Government-sponsored enterprises Agency- and GSE-backed mortgage pools ABS issuers 18 19 20 21 Finance companies REITs Brokers and dealers Funding corporations 10949.3 11935.6 12996.0 14290.7 16207.5 17108.8 16997.7 16451.5 15980.4 15609.7 14963.3 1 934.4 2601.3 3343.3 3279.2 183.7 501.7 105.9 956.0 2676.3 3384.0 3962.4 249.7 575.8 131.4 1170.2 2592.2 3548.5 4650.9 268.6 620.2 145.5 1363.2 2627.8 3841.1 5458.9 206.2 641.4 152.1 1251.8 2910.2 4464.4 6280.1 277.1 867.1 156.7 1125.8 3181.9 4961.4 6002.4 773.2 900.5 163.5 972.2 3118.3 5042.0 6256.5 649.6 794.2 164.9 846.9 2948.1 5170.7 6104.0 492.5 722.0 167.3 699.6 2800.5 5297.5 6021.5 335.5 658.8 166.9 679.1 2706.6 5376.4 5791.3 271.6 617.9 166.9 623.5 6703.8 1048.0 5612.9 246.1 561.6 167.4 2 3 4 5 6 7 8 10949.3 11935.6 12996.0 14290.7 16207.5 17108.8 16997.7 16451.5 15980.4 15609.7 14963.3 9 338.6 321.8 313.4 9.1 357.4 381.3 404.8 11.4 394.3 429.5 427.3 14.7 498.3 499.7 319.1 18.9 630.1 631.1 423.3 32.3 708.6 713.3 356.1 40.6 626.1 1098.8 321.8 30.3 617.8 1103.0 253.2 28.5 562.4 1122.7 192.3 28.3 556.1 1069.2 152.3 26.5 854.9 1068.3 143.3 25.4 10 11 12 13 8.0 2601.3 3343.3 2222.9 11.1 2676.3 3384.0 2662.2 11.5 2592.2 3548.5 3391.7 14.2 2627.8 3841.1 4199.4 28.7 2910.2 4464.4 4535.4 54.9 3181.9 4961.4 4123.5 52.5 3118.3 5042.0 3927.8 50.5 2948.1 5170.7 3756.2 47.5 2800.5 5297.5 3567.3 48.3 2706.6 5376.4 3379.9 45.6 6703.8 1048.0 2799.7 14 15 16 17 995.3 230.7 47.0 518.1 1129.6 340.1 62.2 515.1 1108.6 395.5 62.4 619.9 1144.2 411.0 68.8 648.2 1279.6 421.2 64.8 786.4 1200.3 372.6 142.6 1252.9 1148.0 364.0 102.4 1165.7 1102.2 352.5 102.2 966.5 1074.9 347.8 104.1 835.0 1044.1 338.7 92.9 818.8 1048.1 343.6 92.2 790.4 18 19 20 21 62 Z.1, June 10, 2010 L.4 Credit Market Debt, All Sectors, by Instrument Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 6 7 8 9 10 11 12 Total 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 34647.1 37817.7 41280.3 45359.4 50051.2 52589.0 52902.1 52673.3 52506.8 52328.4 52126.9 1 Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds 1292.9 4008.2 5969.4 1900.4 7048.3 1399.1 4370.7 6084.5 2030.9 7922.9 1644.2 4678.0 6164.5 2225.9 8694.6 1958.0 4861.7 6492.4 2403.3 9982.2 1788.6 5099.2 7397.7 2618.9 11426.1 1599.3 6338.2 8166.7 2676.0 11158.8 1423.9 6804.4 8182.8 2708.1 11592.1 1278.8 7143.1 8141.1 2743.7 11593.5 1169.3 7520.8 8121.3 2764.8 11599.4 1138.0 7781.9 8106.5 2803.7 11482.1 1082.7 8259.6 7775.4 2834.3 11441.9 2 3 4 5 6 Bank loans n.e.c. Other loans and advances Mortgages Consumer credit 1335.1 1613.0 9376.9 2102.9 1410.1 1742.2 10637.1 2220.1 1577.9 1901.2 12073.3 2320.6 1704.8 2071.6 13469.5 2416.0 2026.9 2605.3 14533.2 2555.3 2720.7 2712.1 14623.1 2594.1 2512.8 2549.6 14610.4 2517.9 2283.3 2439.8 14562.0 2487.9 2048.0 2331.4 14455.2 2496.7 1921.8 2275.2 14340.5 2478.9 1903.7 2207.3 14200.2 2421.8 7 8 9 10 16450.7 4654.2 18940.1 5436.3 20636.1 6048.9 24339.3 7068.3 25576.5 7829.0 15780.8 5435.3 13901.3 5107.8 16486.6 5856.9 19399.6 6625.4 20227.6 6961.6 21242.1 7311.9 11 12 Memo: Selected claims not included above: Corporate equities Mutual fund shares L.5 Total Liabilities and Its Relation to Total Financial Assets Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total credit market debt (from table L.4) 34647.1 37817.7 41280.3 45359.4 50051.2 52589.0 52902.1 52673.3 52506.8 52328.4 52126.9 1 2 3 4 5 6 Official foreign exchange SDR certificates Treasury currency Foreign deposits Net interbank liabilities 62.3 2.2 26.0 867.1 190.4 62.2 2.2 26.7 957.0 209.8 45.9 2.2 27.5 997.8 197.4 46.0 2.2 28.1 1085.0 186.1 50.0 2.2 27.4 1349.1 88.6 57.3 2.2 26.6 996.2 1900.9 54.8 2.2 26.6 927.8 1606.8 61.0 2.2 26.5 849.4 1100.3 65.3 5.2 26.3 819.6 1268.4 61.9 5.2 26.2 793.8 1252.6 60.5 5.2 26.2 774.1 1202.5 2 3 4 5 6 7 8 9 10 11 Checkable deposits and currency Small time and savings deposits Large time deposits Money market fund shares Security RPs 1437.4 4002.1 1226.8 2016.4 1345.4 1522.8 4283.7 1505.1 1879.8 1428.5 1527.2 4598.1 1789.5 2006.9 1744.5 1507.3 4945.1 2050.8 2312.1 2147.9 1532.9 5224.5 2382.2 3033.1 2156.5 2101.3 5749.3 2191.6 3757.3 1261.1 1966.7 5918.7 2154.5 3738.7 1059.5 2082.3 5937.0 2151.0 3584.2 1273.1 2060.0 6131.1 2025.2 3363.0 1336.1 2093.4 6326.5 1989.8 3258.6 1464.2 2067.8 6459.3 1882.5 2930.7 1499.4 7 8 9 10 11 12 13 14 15 Mutual fund shares Security credit Life insurance reserves Pension fund reserves 4654.2 858.8 1013.2 9718.9 5436.3 1038.2 1060.4 10635.5 6048.9 1038.4 1082.6 11460.1 7068.3 1249.9 1163.7 12750.6 7829.0 1526.4 1201.5 13390.7 5435.3 1128.5 1179.8 10415.8 5107.8 1017.2 1183.0 9895.2 5856.9 999.1 1204.5 10668.2 6625.4 1067.5 1227.3 11565.0 6961.6 1091.2 1242.1 11948.6 7311.9 1108.6 1255.2 12345.4 12 13 14 15 16 17 18 Trade payables Taxes payable Miscellaneous 2468.1 198.8 12008.3 2662.8 219.2 13281.7 3003.6 214.5 14259.7 3195.9 237.0 15642.5 3398.1 167.7 17403.0 3330.5 39.9 19646.3 3284.5 42.9 20138.6 3297.4 47.9 19244.9 3380.8 79.3 18866.1 3419.3 76.5 18651.8 3438.2 79.7 18868.2 16 17 18 19 Total liabilities 76743.4 84029.5 91325.0 100977.9 110814.2 111808.6 111027.4 111059.2 112418.2 112991.5 113442.1 19 20 21 22 + Financial assets not included in liabilities: Gold and SDRs Corporate equities Household equity in noncorp. bus. 23.7 16450.7 5852.4 24.6 18940.1 6758.3 19.3 20636.1 8358.0 19.9 24339.3 8843.4 20.5 25576.5 8797.6 20.4 15780.8 7326.6 20.1 13901.3 6853.2 20.5 16486.6 6704.0 69.0 19399.6 6717.0 68.9 20227.6 6507.7 67.0 21242.1 6525.3 20 21 22 23 24 25 - Liabilities not identified as assets: Treasury currency Foreign deposits Net interbank transactions -9.5 705.3 10.0 -9.7 767.2 24.9 -9.1 779.5 21.3 -10.1 886.3 19.3 -11.3 1090.5 21.1 -12.1 781.8 51.7 -15.7 765.7 58.3 -15.9 662.3 93.2 -16.3 623.3 66.0 -16.5 599.8 86.1 -16.5 586.4 60.0 23 24 25 230.9 31.5 -4210.8 97.7 28.4 -4576.9 201.3 -18.1 -4838.4 192.5 -48.1 -5904.6 -151.0 -174.8 -6700.0 -449.4 -349.4 -5361.4 -658.7 -354.9 -5241.7 -305.2 -356.2 -5700.2 -296.1 -337.9 -5743.5 -133.4 -339.6 -5997.6 -157.0 -341.2 -5700.3 26 27 28 -17.9 15.5 29.0 11.2 5.8 40.4 1.8 7.4 10.0 0.1 7.4 159.2 2.8 7.3 109.8 1.2 5.3 140.8 -0.2 4.9 129.5 1.2 4.8 102.9 2.5 3.8 138.5 2.0 4.2 273.8 1.4 3.3 243.8 29 30 31 102286.1 113363.7 124182.6 138878.5 151014.4 140127.9 137114.9 139783.4 144163.4 145316.8 146596.7 32 26 27 28 Security RPs Taxes payable Miscellaneous 29 30 31 - Floats not included in assets: Checkable deposits: Federal govt. Other Trade credit 32 Totals identified to sectors as assets 63 Z.1, June 10, 2010 L.10 Assets and Liabilities of the Personal Sector (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 5 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares 6 Securities 7 8 9 10 Open market paper U.S. savings bonds Other Treasury securities Agency- and GSE-backed securities 11 12 13 14 Municipal securities Corporate and foreign bonds Corporate equities (2) Mutual fund shares 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 31253.2 34652.2 37577.1 42421.0 45512.8 38174.1 36956.6 38650.3 40921.7 41572.8 42516.3 1 52.1 592.5 4251.7 1023.8 57.5 645.5 4727.4 970.6 59.9 595.3 5238.0 1018.2 65.2 626.7 5744.8 1186.6 81.0 611.3 6247.9 1421.0 59.8 806.6 6456.0 1660.6 55.7 778.3 6456.4 1633.0 51.0 807.9 6389.2 1560.2 49.2 762.9 6368.2 1433.3 47.7 786.3 6476.6 1386.5 48.1 693.0 6560.0 1273.5 2 3 4 5 12307.5 13826.8 15002.1 17242.1 18249.9 13192.5 12671.3 13743.0 15327.7 15535.9 16228.9 6 77.3 203.8 249.1 383.7 83.7 204.4 338.4 400.3 98.4 205.1 315.4 496.2 117.5 202.4 248.1 411.9 107.3 196.4 129.5 687.6 6.0 194.0 146.7 705.1 5.6 193.9 412.3 484.6 5.1 193.5 408.0 177.3 4.9 192.4 516.9 166.3 4.6 191.2 515.5 6.8 4.6 190.2 662.8 94.3 7 8 9 10 706.4 1026.3 6749.9 2911.0 746.7 1141.7 7483.9 3427.7 825.4 1299.5 8093.0 3669.1 877.8 1552.8 9643.7 4188.1 901.2 2005.4 9626.4 4596.1 912.8 1988.6 5913.5 3326.0 943.2 2351.7 5157.0 3123.0 966.1 2289.3 6158.3 3545.4 976.5 2232.5 7291.2 3947.0 1004.1 2197.9 7463.9 4152.0 1025.2 2139.8 7793.3 4318.7 11 12 13 14 15 16 17 18 Private life insurance reserves Private insured pension reserves Private noninsured pension reserves Govt. insurance and pension reserves 972.7 1803.2 4561.3 3394.9 1018.8 2027.9 4963.0 3686.1 1039.9 2197.4 5427.8 3877.6 1119.5 2332.4 6120.5 4341.8 1156.1 2450.8 6444.8 4540.5 1133.4 2184.6 4588.0 3689.6 1136.6 2155.6 4283.1 3502.8 1157.6 2221.7 4766.5 3726.9 1180.4 2312.3 5306.5 3993.0 1194.5 2338.0 5507.4 4150.7 1207.8 2378.7 5763.2 4250.9 15 16 17 18 19 Miscellaneous and other assets 2293.5 2728.5 3120.9 3641.2 4309.4 4402.8 4283.7 4226.3 4188.2 4149.1 4112.2 19 13214.2 14740.2 16444.7 18294.7 19808.5 19976.2 19803.6 19703.4 19604.5 19490.7 19308.8 20 20 Total liabilities 21 22 23 Mortgage debt on nonfarm homes Other mortgage debt (3) Consumer credit 7221.1 1543.3 2102.9 8244.7 1702.1 2220.1 9351.3 1822.7 2320.6 10416.2 2060.0 2416.0 11123.6 2361.0 2555.3 11037.9 2492.3 2594.1 11029.8 2490.9 2517.9 10984.9 2489.1 2487.9 10900.2 2480.4 2496.7 10838.4 2438.9 2478.9 10730.7 2421.8 2421.8 21 22 23 24 25 26 Policy loans Security credit Other liabilities (3) 105.2 182.5 2059.1 106.8 264.0 2202.4 107.6 232.4 2610.1 110.9 292.1 2999.6 114.5 325.5 3328.5 120.4 164.8 3566.6 120.8 134.3 3509.9 121.3 147.7 3472.6 120.4 173.8 3433.1 121.1 203.0 3410.4 121.7 196.4 3416.4 24 25 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. 64 Z.1, June 10, 2010 L.100 Households and Nonprofit Organizations (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 6 7 Total financial assets Deposits Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Credit market instruments 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 35293.6 39228.2 43314.1 48123.8 50686.9 41668.4 40028.0 41637.5 43999.4 44510.1 45542.2 1 5348.5 5732.4 6139.9 6753.1 7406.5 7972.8 7926.7 7828.6 7654.4 7755.7 7651.6 2 52.1 398.4 3937.9 960.2 57.5 344.1 4426.8 904.1 59.9 216.9 4913.9 949.2 65.2 173.1 5400.4 1114.5 81.0 90.3 5888.5 1346.7 59.8 263.0 6068.0 1581.9 55.7 241.9 6073.7 1555.4 51.0 280.5 6013.1 1483.9 49.2 246.4 6000.0 1358.7 47.7 279.3 6115.4 1313.3 48.1 195.9 6205.9 1201.8 3 4 5 6 2723.1 2997.9 3327.4 3479.4 4089.4 4024.9 4460.1 4105.5 4153.3 3983.1 4180.2 7 77.3 408.0 203.8 204.2 383.7 83.7 492.6 204.4 288.2 400.3 98.4 464.3 205.1 259.2 496.2 117.5 394.1 202.4 191.7 411.9 107.3 266.6 196.4 70.2 687.6 6.0 277.8 194.0 83.8 705.1 5.6 544.2 193.9 350.4 484.6 5.1 540.6 193.5 347.1 177.3 4.9 649.7 192.4 457.3 166.3 4.6 648.3 191.2 457.1 6.8 4.6 795.7 190.2 605.5 94.3 8 9 10 11 12 8 9 10 11 12 Open market paper Treasury securities Savings bonds Other Treasury Agency- and GSE-backed securities 13 14 15 16 Municipal securities Corporate and foreign bonds Other loans and advances (2) Mortgages 703.7 1026.3 3.1 120.9 742.4 1141.7 5.9 131.3 820.9 1299.5 8.7 139.4 872.0 1552.8 9.1 122.1 896.0 2005.4 17.6 109.1 907.2 1988.6 29.7 110.5 937.7 2351.7 27.4 108.9 960.7 2289.3 25.6 106.9 971.2 2232.5 24.1 104.6 998.9 2197.9 24.5 102.3 1020.1 2139.8 24.9 100.8 13 14 15 16 17 18 19 20 21 22 23 Corporate equities (3) Mutual fund shares Security credit Life insurance reserves Pension fund reserves Equity in noncorporate business Miscellaneous assets 6749.9 2911.0 475.4 1013.2 9718.9 5852.4 501.3 7483.9 3427.7 578.3 1060.4 10635.5 6758.3 553.8 8093.0 3669.1 575.3 1082.6 11460.1 8358.0 608.7 9643.7 4188.1 655.7 1163.7 12750.6 8843.4 646.1 9626.4 4596.1 866.4 1201.5 13390.7 8797.6 712.2 5913.5 3326.0 742.7 1179.8 10415.8 7326.6 766.4 5157.0 3123.0 666.3 1183.0 9895.2 6853.2 763.4 6158.3 3545.4 657.3 1204.5 10668.2 6704.0 765.6 7291.2 3947.0 671.7 1227.3 11565.0 6717.0 772.6 7463.9 4152.0 668.6 1242.1 11948.6 6507.7 788.4 7793.3 4318.7 679.5 1255.2 12345.4 6525.3 792.9 17 18 19 20 21 22 23 24 25 Total liabilities Credit market instruments 26 27 28 Home mortgages (4) Consumer credit Municipal securities 29 30 31 Bank loans n.e.c. (5) Other loans and advances Commercial mortgages 32 33 34 Security credit Trade payables Deferred and unpaid life insurance premiums 9865.2 11029.3 12184.0 13444.4 14366.0 14265.1 14147.4 14116.4 14105.7 14068.4 13970.4 24 9505.0 10569.6 11742.9 12929.5 13802.1 13843.0 13754.8 13710.1 13669.6 13602.1 13503.1 25 6894.4 2102.9 177.7 7835.3 2220.1 189.1 8874.3 2320.6 205.2 9865.0 2416.0 224.1 10538.5 2555.3 241.2 10496.9 2594.1 249.3 10496.6 2517.9 251.6 10461.9 2487.9 258.1 10394.3 2496.7 260.9 10334.4 2478.9 264.4 10240.3 2421.8 266.1 26 27 28 49.8 118.7 161.4 26.7 119.0 179.2 36.4 119.0 187.4 86.4 123.8 214.3 99.7 127.0 240.3 117.7 133.2 251.7 104.0 133.5 251.1 118.3 134.0 250.0 137.1 133.0 247.5 147.7 133.7 243.1 200.8 134.3 239.8 29 30 31 182.5 156.8 264.0 173.3 232.4 186.3 292.1 199.9 325.5 214.5 164.8 230.2 134.3 231.8 147.7 233.8 173.8 237.9 203.0 241.2 196.4 246.3 32 33 20.9 22.5 22.4 22.8 23.9 27.0 26.5 24.8 24.5 22.1 24.6 34 (1) Sector includes farm households and domestic hedge funds. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations. (2) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds. (3) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 18) and life insurance and pension reserves (lines 20 and 21). (4) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 22. (5) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.108, line 15. 65 Z.1, June 10, 2010 L.101 Nonfinancial Business (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 11883.2 13072.2 14471.0 15747.5 17316.6 17323.4 17215.1 17334.9 17473.1 17629.0 17708.9 1 2 3 4 5 6 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 38.1 385.8 676.6 361.9 6.0 53.7 495.6 701.1 375.1 6.4 63.6 646.2 774.5 417.1 14.6 49.3 604.5 841.4 488.5 15.5 50.3 662.9 800.7 618.7 8.1 25.2 595.7 775.0 781.3 7.5 26.6 611.9 784.9 785.0 7.8 43.0 654.0 789.2 768.5 8.3 43.5 704.2 900.4 724.9 9.5 49.1 754.8 916.6 703.9 9.9 47.1 813.5 920.1 635.0 9.8 2 3 4 5 6 7 Credit market instruments 340.7 383.4 437.2 425.6 356.4 334.8 310.3 321.9 312.1 325.6 315.3 7 75.7 78.6 11.2 38.1 78.0 59.0 95.0 84.2 11.3 36.2 97.4 59.2 111.0 108.3 17.4 36.6 104.4 59.6 122.7 101.8 15.2 33.9 94.5 57.6 69.5 97.7 12.8 34.5 83.5 58.6 60.1 93.6 10.3 32.1 78.8 59.8 40.6 102.6 6.9 28.7 76.5 55.0 47.0 107.0 12.0 28.1 73.9 53.8 40.1 105.9 12.1 29.7 71.2 53.0 48.1 106.7 12.7 32.2 68.6 57.2 43.2 107.4 13.4 31.8 66.0 53.5 8 9 10 11 12 13 119.3 2039.5 7915.4 130.1 2195.0 8731.7 140.0 2539.2 9438.6 180.7 2560.8 10581.1 191.1 2778.7 11849.9 125.8 2683.2 11994.9 128.1 2662.8 11897.5 152.1 2693.7 11904.2 178.0 2692.5 11907.9 189.7 2605.9 12073.4 204.7 2615.7 12147.7 14 15 16 13216.3 14060.2 15406.0 16632.3 18315.1 19140.8 19189.6 19184.2 19139.7 19143.7 19155.2 17 8 9 10 11 12 13 14 15 16 17 18 Total financial assets 2004 Commercial paper Treasury securities Agency- and GSE-backed securities Municipal securities Mortgages Consumer credit Mutual fund shares Trade receivables Miscellaneous assets Total liabilities 7338.0 7796.3 8471.1 9363.2 10593.7 11164.8 11150.2 11091.6 10972.4 10892.5 10909.6 18 19 20 21 Commercial paper Municipal securities Corporate bonds 82.5 163.9 2900.1 97.8 169.2 2975.5 90.1 176.8 3032.2 112.5 182.2 3247.8 123.8 190.3 3558.9 131.5 192.9 3763.5 106.9 193.3 3908.3 86.2 194.9 4007.4 73.0 196.8 4075.0 59.1 198.1 4145.0 74.6 198.4 4248.2 19 20 21 22 23 24 Bank loans n.e.c. Other loans and advances Mortgages 1035.5 940.8 2215.2 1063.8 998.8 2491.2 1188.5 1117.4 2866.1 1313.9 1268.7 3238.1 1547.2 1575.8 3597.6 1721.8 1644.1 3711.0 1656.1 1587.8 3697.8 1570.9 1549.3 3682.9 1476.2 1505.0 3646.5 1405.7 1488.5 3596.1 1359.8 1475.9 3552.6 22 23 24 1665.1 150.9 4062.4 1786.4 166.0 4311.5 2035.1 172.9 4726.9 2161.7 181.1 4926.3 2272.8 135.3 5313.2 2157.4 141.0 5677.6 2080.8 142.1 5816.5 2064.3 135.7 5892.6 2060.5 142.0 5964.8 2094.6 136.4 6020.2 2060.4 147.3 6037.9 25 26 27 25 26 27 Credit market instruments Trade payables Taxes payable Miscellaneous liabilities (1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business. 66 Z.1, June 10, 2010 L.102 Nonfarm Nonfinancial Corporate Business Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 10084.2 10901.1 11861.7 12616.7 13704.8 13500.6 13444.0 13629.0 13844.7 14068.8 14218.9 1 2 3 4 5 6 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 38.1 191.7 362.8 298.3 6.0 53.7 194.2 400.5 308.6 6.4 63.6 267.8 450.4 348.2 14.6 49.3 150.9 497.0 416.3 15.5 50.3 141.9 441.3 544.4 8.1 25.2 52.1 387.0 702.6 7.5 26.6 75.5 402.2 707.4 7.8 43.0 126.6 413.2 692.2 8.3 43.5 187.7 532.2 650.3 9.5 49.1 247.8 555.4 630.8 9.9 47.1 316.3 566.0 563.3 9.8 2 3 4 5 6 7 Credit market instruments 266.8 298.0 340.4 328.8 249.7 221.8 198.9 212.4 205.0 220.5 212.4 7 75.7 33.7 11.2 35.4 51.8 59.0 95.0 34.0 11.3 31.8 66.6 59.2 111.0 52.1 17.4 32.1 68.3 59.6 122.7 45.5 15.2 28.1 59.8 57.6 69.5 38.3 12.8 29.2 41.4 58.6 60.1 30.8 10.3 26.6 34.3 59.8 40.6 40.6 6.9 23.2 32.5 55.0 47.0 46.1 12.0 22.7 30.7 53.8 40.1 46.4 12.1 24.4 29.0 53.0 48.1 48.2 12.7 27.1 27.2 57.2 43.2 50.1 13.4 26.7 25.4 53.5 8 9 10 11 12 13 8 9 10 11 12 13 Total financial assets 2004 Commercial paper Treasury securities Agency- and GSE-backed securities Municipal securities Mortgages Consumer credit 14 15 Mutual fund shares Trade receivables 119.3 1701.8 130.1 1830.6 140.0 2108.2 180.7 2090.0 191.1 2253.0 125.8 2126.6 128.1 2113.9 152.1 2154.6 178.0 2164.9 189.7 2088.5 204.7 2108.7 14 15 16 17 18 19 20 21 Miscellaneous assets U.S. direct investment abroad (1) Insurance receivables Equity in GSEs Investment in finance company subs. Other 7099.5 1745.1 236.6 0.0 21.0 5096.8 7678.9 2094.7 255.5 0.0 23.6 5305.2 8128.6 2205.7 276.2 0.0 117.0 5529.7 8888.1 2440.7 282.7 0.0 140.1 6024.6 9825.1 2800.0 290.1 0.0 81.5 6653.4 9852.1 3005.1 300.0 0.0 80.5 6466.5 9783.5 3052.2 299.2 0.0 76.9 6355.1 9826.6 3106.5 299.0 0.0 72.3 6348.7 9873.5 3168.0 299.3 0.0 70.9 6335.4 10077.1 3177.2 298.2 0.0 71.2 6530.5 10190.6 3234.8 299.9 0.0 70.4 6585.5 16 17 18 19 20 21 9867.4 10349.3 11145.3 11781.9 12872.6 13429.7 13533.4 13597.2 13640.9 13721.4 13816.8 22 22 Total liabilities 23 Credit market instruments 4970.8 5168.1 5494.1 5963.3 6724.5 7100.2 7135.6 7142.8 7111.2 7113.2 7206.4 23 24 25 26 Commercial paper Municipal securities (2) Corporate bonds (1) 82.5 163.9 2900.1 97.8 169.2 2975.5 90.1 176.8 3032.2 112.5 182.2 3247.8 123.8 190.3 3558.9 131.5 192.9 3763.5 106.9 193.3 3908.3 86.2 194.9 4007.4 73.0 196.8 4075.0 59.1 198.1 4145.0 74.6 198.4 4248.2 24 25 26 27 28 29 Bank loans n.e.c. Other loans and advances (3) Mortgages 548.3 769.3 506.7 542.7 824.0 558.9 508.7 932.5 753.8 517.9 1061.7 841.2 609.4 1350.2 891.8 677.5 1405.4 929.4 652.9 1349.4 924.7 618.7 1314.8 920.8 580.6 1278.2 907.6 553.5 1261.2 896.3 554.2 1250.8 880.3 27 28 29 1402.7 81.2 3412.7 1302.0 49.8 2060.9 1499.9 88.0 3593.3 1409.8 46.6 2136.9 1699.4 86.2 3865.6 1549.4 44.8 2271.4 1813.0 85.4 3920.2 1722.7 42.8 2154.7 1898.9 35.8 4213.4 2042.0 47.2 2124.1 1740.9 39.0 4549.6 2265.5 47.9 2236.2 1665.5 40.7 4691.6 2291.2 48.8 2351.6 1654.8 35.1 4764.5 2309.8 53.4 2401.3 1655.7 42.4 4831.6 2345.4 51.6 2434.6 1695.9 37.6 4874.6 2349.1 50.5 2475.0 1665.7 49.4 4895.3 2374.0 49.9 2471.4 30 31 32 33 34 35 299.1 10845.2 330.7 12088.6 408.9 12686.6 277.0 14602.3 354.1 15725.9 385.6 10036.4 448.4 8975.2 499.7 10298.4 509.2 11834.2 392.5 12464.9 442.9 13100.1 36 37 30 31 32 33 34 35 Trade payables Taxes payable Miscellaneous liabilities Foreign direct investment in U.S. Pension fund contributions payable Other Memo: 36 37 Trade receivables net of payables Market value of equities 38 39 Securities and mortgages Loans and short-term paper 3570.7 1400.1 3703.7 1464.4 3962.8 1531.3 4271.2 1692.1 4641.0 2083.5 4885.8 2214.4 5026.4 2109.2 5123.1 2019.7 5179.4 1931.8 5239.4 1873.9 5326.9 1879.5 38 39 40 41 Total short-term liabilities (4) Total liquid assets (5) 2884.0 1172.1 3052.4 1265.7 3316.9 1497.0 3590.5 1521.2 4018.2 1526.7 3994.3 1427.9 3815.4 1459.1 3709.6 1563.4 3629.9 1724.3 3607.4 1818.8 3594.7 1840.7 40 41 42 43 Analytical measures (percent) Long-term debt/credit market debt Short-term debt/credit market debt 71.8 28.2 71.7 28.3 72.1 27.9 71.6 28.4 69.0 31.0 68.8 31.2 70.4 29.6 71.7 28.3 72.8 27.2 73.7 26.3 73.9 26.1 42 43 44 Liquid assets/short-term liabilities 40.6 41.5 45.1 42.4 38.0 35.7 38.2 42.1 47.5 50.4 51.2 44 (1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues. (2) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds. (3) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table L.216. (4) Loans (except mortgages), short-term paper, taxes payable, and trade payables. Includes loans due in more than one year and excludes current maturities of bonds and mortgages. (5) Sum of lines 2 through 6, lines 8 through 11, and line 14. 67 Z.1, June 10, 2010 L.103 Nonfarm Noncorporate Business Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 Checkable deposits and currency Time and savings deposits Money market fund shares 5 6 7 8 Treasury securities Municipal securities Mortgages Consumer credit 9 10 11 12 13 14 15 16 17 18 19 20 21 Trade receivables Miscellaneous assets Insurance receivables Equity investment in GSEs (1) Other Total liabilities Credit market instruments Bank loans n.e.c. Other loans and advances Mortgages Trade payables Taxes payable Miscellaneous liabilities 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 1736.6 2105.6 2541.8 3057.2 3533.1 3741.2 3689.4 3624.1 3546.4 3478.1 3407.9 1 172.9 313.8 63.6 279.2 300.6 66.5 355.5 324.1 69.0 428.6 344.4 72.2 494.3 359.3 74.3 515.9 388.0 78.7 508.6 382.7 77.6 499.5 376.1 76.2 488.6 368.2 74.6 479.1 361.2 73.2 469.3 354.1 71.7 2 3 4 44.9 2.7 26.3 0.0 50.2 4.3 30.8 0.0 56.2 4.4 36.2 0.0 56.3 5.8 34.6 0.0 59.3 5.3 42.1 0.0 62.8 5.6 44.6 0.0 62.0 5.5 43.9 0.0 60.9 5.4 43.2 0.0 59.6 5.3 42.2 0.0 58.4 5.2 41.4 0.0 57.2 5.1 40.6 0.0 5 6 7 8 337.7 774.7 56.9 2.1 715.7 364.3 1009.5 60.5 2.0 947.1 430.9 1265.5 65.3 1.8 1198.4 470.9 1644.4 66.9 1.9 1575.6 525.6 1972.8 68.6 2.2 1902.0 556.6 2089.0 70.7 4.1 2014.3 548.9 2060.1 70.5 4.1 1985.5 539.2 2023.6 70.5 4.3 1948.9 527.6 1980.2 70.6 4.6 1905.1 517.5 1942.1 71.0 4.8 1866.4 507.0 1902.9 71.4 4.8 1826.8 9 10 11 12 13 3184.8 3529.0 4064.3 4646.8 5228.4 5472.2 5414.7 5342.9 5252.0 5172.8 5090.9 14 2210.2 2455.3 2786.9 3195.6 3650.3 3845.2 3796.0 3727.5 3639.3 3554.5 3482.5 15 441.7 143.1 1625.3 473.4 145.3 1836.6 629.9 149.5 2007.5 742.8 163.9 2288.9 882.3 174.9 2593.1 985.6 208.1 2651.5 948.1 207.0 2640.9 894.9 204.7 2627.8 836.7 200.1 2602.5 793.6 199.5 2561.4 751.0 197.5 2534.0 16 17 18 255.3 69.7 649.7 277.4 78.0 718.2 329.4 86.7 861.2 349.4 95.7 1006.1 378.7 99.5 1099.9 396.9 102.0 1128.1 392.4 101.4 1124.9 386.7 100.6 1128.1 379.9 99.6 1133.2 373.9 98.8 1145.6 367.8 97.9 1142.7 19 20 21 (1) Equity in the Farm Credit System. L.104 Farm Business (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 62.4 65.5 67.5 73.7 78.8 81.6 81.7 81.9 82.0 82.1 82.0 1 2 Checkable deposits and currency 21.2 22.3 22.9 25.0 26.8 27.7 27.8 27.8 27.9 27.9 27.9 2 3 4 5 Miscellaneous assets Insurance receivables Equity investment in GSEs (2) 41.2 38.7 2.5 43.2 40.5 2.7 44.5 41.7 2.8 48.6 45.6 3.0 52.0 48.5 3.6 53.8 51.8 2.0 53.9 51.8 2.2 54.0 52.0 2.1 54.1 52.3 1.9 54.2 52.2 2.0 54.2 52.1 2.1 3 4 5 164.2 181.9 196.4 203.6 214.1 238.9 241.5 244.1 246.8 249.5 247.5 6 157.1 172.9 190.1 204.3 218.9 219.4 218.6 221.3 221.9 224.8 220.7 7 45.5 28.4 83.2 47.7 29.5 95.7 49.9 35.4 104.8 53.2 43.0 108.0 55.5 50.7 112.7 58.7 30.6 130.1 55.0 31.4 132.2 57.2 29.9 134.2 58.9 26.6 136.3 58.5 27.8 138.5 54.6 27.7 138.4 8 9 10 7.1 9.1 6.3 -0.7 -4.8 19.5 22.9 22.8 24.9 24.7 26.8 11 6 7 8 9 10 11 Total financial assets Total liabilities Credit market instruments Bank loans n.e.c. Other loans and advances Mortgages (3) Trade payables (1) Corporate and noncorporate farms. (2) Equity in the Farm Credit System. (3) Excludes mortgages on farm houses. 68 Z.1, June 10, 2010 L.105 State and Local Governments (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 6 Credit market instruments 7 8 9 10 11 12 Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Mortgages 13 14 Corporate equities Mutual fund shares 15 16 17 Trade receivables Taxes receivable Miscellaneous assets 18 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 1908.2 2029.5 2246.9 2460.7 2634.8 2611.9 2572.2 2672.1 2714.4 2746.4 2770.5 1 53.8 159.0 62.7 123.5 47.0 170.6 66.6 131.2 56.5 183.3 71.7 141.2 61.9 209.6 78.5 154.6 57.1 245.9 83.5 164.3 65.6 265.1 84.2 165.8 60.6 278.2 87.5 169.9 85.3 267.4 87.0 171.2 71.3 273.0 89.0 175.3 85.0 275.9 90.3 177.7 81.2 281.8 91.3 179.8 2 3 4 5 1125.6 1198.1 1352.0 1470.6 1512.0 1385.6 1381.8 1375.2 1373.6 1368.5 1344.6 6 161.6 364.2 351.2 4.4 111.3 132.9 171.7 389.1 373.2 4.7 118.2 141.2 184.8 481.4 401.6 5.0 127.2 151.9 202.4 516.9 439.9 5.5 139.4 166.4 195.2 531.5 454.6 5.8 148.1 176.9 132.8 491.9 434.2 5.9 149.5 171.3 124.6 504.1 425.9 5.8 153.9 167.6 111.5 517.8 412.8 6.1 149.3 177.7 97.0 525.0 398.7 6.2 158.0 188.7 87.2 541.3 382.2 6.3 160.2 191.3 82.4 534.7 365.6 6.4 162.1 193.5 7 8 9 10 11 12 84.7 25.9 90.0 27.5 96.8 29.6 106.0 32.5 112.7 34.5 80.7 27.4 75.5 26.6 88.7 34.0 103.2 42.2 108.4 44.4 117.2 47.2 13 14 126.5 73.6 73.0 134.4 99.6 64.6 144.7 141.0 30.0 158.5 189.0 -0.5 168.4 237.5 18.7 169.9 269.8 97.6 166.4 274.5 51.4 175.4 276.8 111.1 179.7 286.0 121.1 182.1 280.9 133.1 184.3 281.8 161.2 15 16 17 1988.2 2132.4 2336.5 2524.6 2752.9 2840.2 2879.2 2916.8 2943.0 2987.1 3025.6 18 19 Credit market instruments 1568.5 1682.6 1854.5 2008.2 2199.3 2246.5 2276.0 2303.9 2320.4 2354.7 2383.5 19 20 21 22 23 Municipal securities Short-term Other U.S. government loans 1558.8 106.1 1452.7 9.7 1672.6 100.2 1572.4 10.0 1843.9 105.9 1738.0 10.6 1997.0 102.8 1894.2 11.2 2187.4 120.1 2067.3 11.9 2233.8 132.1 2101.7 12.7 2263.1 132.8 2130.4 12.9 2290.8 121.7 2169.1 13.1 2307.1 134.8 2172.3 13.2 2341.2 134.9 2206.3 13.5 2369.8 134.1 2235.7 13.7 20 21 22 23 419.7 449.9 482.0 516.4 553.7 593.7 603.2 612.9 622.7 632.4 642.1 24 24 Total liabilities 2004 Trade payables (1) Data for employee retirement funds are shown in table L.119. L.106 Federal Government Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 Total financial assets Gold, SDRs, and official foreign exchange Checkable deposits and currency Time and savings deposits 659.7 640.6 643.7 641.3 686.6 1268.2 1297.3 1382.0 1470.6 1409.0 1459.3 1 55.2 54.1 2.4 54.5 21.9 2.4 35.3 36.8 1.4 34.5 32.9 1.7 36.4 56.5 2.8 41.9 368.0 1.6 40.4 271.9 1.7 46.0 319.1 1.6 97.3 274.8 1.9 94.6 193.6 1.9 92.2 219.5 2.0 2 3 4 5 6 7 8 9 10 Credit market instruments Agency- and GSE-backed securities Corporate and foreign bonds Other loans and advances Mortgages Consumer credit (1) 272.4 0.0 0.0 117.5 72.6 82.4 274.7 0.0 0.0 114.4 74.2 86.1 273.8 0.0 0.0 107.4 76.6 89.8 279.9 0.0 0.0 108.0 80.3 91.7 286.5 0.0 0.0 105.8 82.4 98.4 373.1 54.4 0.0 111.8 95.8 111.0 457.4 111.4 0.0 126.6 96.7 122.7 553.2 164.7 0.4 150.6 102.2 135.4 638.3 195.6 0.5 174.3 110.0 157.8 698.0 225.5 0.6 177.6 108.4 186.0 724.2 225.5 0.6 181.2 107.1 209.8 5 6 7 8 9 10 11 12 13 14 Corporate equities (2) Trade receivables Taxes receivable Miscellaneous assets 0.0 51.3 93.7 130.7 0.0 61.8 91.2 134.0 0.0 71.0 91.6 133.7 0.0 59.4 96.1 136.8 0.0 60.6 105.0 138.7 188.7 64.7 119.4 110.8 223.9 65.0 123.4 113.6 157.6 68.2 127.3 109.0 158.8 70.6 131.2 97.7 67.4 72.7 135.1 145.7 67.3 68.8 139.1 146.3 11 12 13 14 5111.2 5548.4 5940.6 6185.9 6529.6 7884.9 8319.7 8667.0 9124.6 9464.3 9971.8 15 2.2 26.0 2.2 26.7 2.2 27.5 2.2 28.1 2.2 27.4 2.2 26.6 2.2 26.6 2.2 26.5 5.2 26.3 5.2 26.2 5.2 26.2 16 17 4033.1 203.8 3804.4 24.9 0.0 4395.0 204.4 4166.3 24.3 0.0 4701.9 205.1 4472.9 23.8 0.0 4885.3 202.4 4659.4 23.5 0.0 5122.3 196.4 4902.8 23.1 0.0 6361.5 194.0 6144.2 23.3 0.0 6826.9 193.9 6610.5 22.5 0.0 7165.3 193.5 6949.6 22.3 0.0 7544.0 192.4 7328.4 23.2 0.0 7805.4 191.2 7590.7 23.5 0.0 8283.2 190.2 8069.4 23.6 0.0 18 19 20 21 22 153.6 40.5 855.8 815.0 40.8 169.0 41.6 913.9 855.9 58.0 202.7 42.7 963.7 882.9 80.7 208.9 44.2 1017.2 918.7 98.6 238.1 45.4 1094.2 952.0 142.2 264.8 46.4 1183.5 1015.3 168.2 260.6 46.3 1157.1 993.2 163.9 263.6 46.9 1162.5 997.6 165.0 322.7 46.9 1179.5 1013.5 166.0 318.4 47.5 1261.6 1077.2 184.4 366.1 47.4 1243.8 1060.6 183.2 23 24 25 26 27 15 Total liabilities 16 17 SDR certificates Treasury currency 18 19 20 21 22 Credit market instruments Savings bonds Other Treasury securities Budget agency securities Multifamily residential mortgages 23 24 25 26 27 Trade payables Insurance reserves Miscellaneous liabilities (3) Nonmarketable securities held by pension plans Other (1) Student loans. (2) Corporate equities purchased from financial businesses under the Troubled Assets Relief Program (TARP) and from GSEs at market price. (3) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, and foreign service retirement and disability fund. 69 Z.1, June 10, 2010 L.107 Rest of the World Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 5 6 Net interbank assets U.S. checkable deposits and currency U.S. time deposits Money market fund shares Security RPs 7 Credit market instruments 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 8790.8 10523.4 11516.0 13964.9 16090.7 15132.6 15028.3 14989.7 15273.2 15325.9 15625.3 1 109.6 262.9 115.0 18.8 460.2 118.3 285.3 149.2 22.9 665.1 106.0 300.1 155.9 23.0 713.3 96.7 311.6 167.4 27.0 1029.0 -56.9 306.1 207.6 46.0 1109.1 373.3 361.5 252.8 58.3 584.4 155.2 363.5 247.4 57.3 626.9 -30.2 360.0 240.5 56.3 621.8 98.9 360.5 228.6 55.3 614.9 40.0 361.0 230.0 54.3 582.8 26.8 363.4 219.4 53.3 629.5 2 3 4 5 6 3836.1 4634.7 5191.3 6200.1 7272.5 7594.2 7669.7 7719.6 7740.1 7827.4 7993.9 7 8 Open market paper 192.8 229.8 239.6 287.6 278.1 232.9 219.7 199.9 195.9 190.0 192.5 8 9 10 11 Treasury securities Official Private 1513.5 986.3 527.2 1813.6 1251.9 561.6 1984.4 1340.6 643.8 2126.2 1558.3 567.9 2376.4 1736.7 639.7 3210.6 2325.7 885.0 3382.7 2444.0 938.7 3483.6 2567.7 915.9 3598.4 2691.4 907.0 3738.4 2815.8 922.6 3935.9 2928.6 1007.3 9 10 11 12 13 14 Agency- and GSE-backed securities Official Private 655.3 262.9 392.4 875.2 372.6 502.6 1012.9 487.2 525.7 1262.3 694.2 568.1 1582.4 954.3 628.1 1445.2 979.3 465.9 1386.2 972.4 413.8 1379.8 966.6 413.2 1331.0 917.8 413.2 1307.3 903.8 403.6 1282.4 907.9 374.5 12 13 14 15 16 17 Municipal securities U.S. corporate bonds (1) Loans to U.S. corporate business 19.5 1330.0 125.0 26.0 1558.9 131.2 29.0 1762.9 162.5 34.4 2320.8 168.8 45.1 2719.1 271.5 41.0 2456.7 207.8 40.0 2445.0 196.2 45.6 2417.5 193.2 53.5 2379.4 181.9 60.6 2348.4 182.7 71.9 2325.1 186.0 15 16 17 18 19 20 21 U.S. corporate equities Mutual fund shares Trade receivables Security credit 1524.4 146.1 50.1 0.0 1904.6 195.8 49.0 0.0 2039.1 242.0 56.9 0.0 2448.1 316.8 62.8 0.0 2812.2 373.5 83.5 0.0 1777.3 262.0 89.6 0.0 1573.6 246.2 87.2 0.0 1927.1 282.3 92.2 0.0 2291.5 319.4 146.3 0.0 2464.8 335.6 140.8 0.0 2628.3 352.5 186.4 0.0 18 19 20 21 22 23 24 Miscellaneous assets Foreign direct investment in U.S. (2) Other 2267.5 1581.0 686.5 2498.5 1742.7 755.8 2688.4 1906.0 782.4 3305.7 2154.1 1151.6 3937.1 2450.1 1486.9 3779.2 2646.8 1132.4 4001.2 2669.6 1331.6 3720.2 2708.7 1011.5 3417.8 2758.5 659.2 3289.2 2798.9 490.3 3171.9 2830.9 341.1 22 23 24 4691.3 5590.2 6073.1 7218.0 8404.2 8415.9 8586.7 7787.8 7283.5 7120.1 7358.1 25 62.3 867.1 62.2 957.0 45.9 997.8 46.0 1085.0 50.0 1349.1 57.3 996.2 54.8 927.8 61.0 849.4 65.3 819.6 61.9 793.8 60.5 774.1 26 27 1253.3 1438.8 1513.9 1882.6 2126.3 1864.4 1896.4 1950.8 2020.1 2064.0 2084.2 28 276.1 868.9 345.3 985.0 384.0 1011.6 482.3 1275.5 413.0 1587.1 342.0 1392.9 344.8 1427.3 345.7 1482.1 396.6 1502.9 399.8 1545.8 384.7 1580.7 29 30 66.1 4.5 8.9 52.7 42.0 0.2 69.9 5.5 13.4 51.0 38.3 0.3 84.4 2.6 18.1 63.7 33.7 0.2 98.3 1.9 21.9 74.4 26.4 0.2 102.8 1.9 30.2 70.8 23.1 0.3 107.9 2.6 33.0 72.4 21.6 0.0 103.1 2.6 29.3 71.3 21.2 0.0 101.6 2.9 26.7 72.0 21.4 0.0 99.2 3.4 27.9 67.9 21.4 0.0 96.8 3.2 27.9 65.8 21.6 0.0 97.0 3.0 30.4 63.6 21.8 0.0 31 32 33 34 35 36 44.7 0.0 48.2 0.0 54.5 0.0 60.7 0.0 73.1 0.0 63.2 0.0 60.3 0.0 68.3 0.0 70.1 0.0 62.7 0.0 61.2 0.0 37 38 2464.0 40.0 2.8 2054.5 366.8 3084.0 42.0 2.8 2498.5 540.8 3461.1 43.2 0.6 2651.7 765.6 4143.7 45.3 0.6 2948.2 1149.7 4805.7 46.9 24.5 3451.5 1282.9 5434.9 48.3 554.2 3698.8 1133.6 5647.4 48.4 310.4 3745.3 1543.3 4858.3 49.7 115.1 3796.3 897.2 4308.4 49.8 57.3 3871.7 329.6 4137.7 50.0 10.8 3919.8 157.2 4378.2 49.6 0.6 3990.2 337.8 39 40 41 42 43 1891.6 2560.4 3317.7 4329.0 5248.0 2851.4 2553.3 3265.5 3939.0 4095.1 4157.3 44 25 Total liabilities 26 27 U.S. official foreign exchange and net IMF position U.S. private deposits 28 Credit market instruments 29 30 Commercial paper Bonds 31 32 33 34 35 36 Bank loans n.e.c. Official Banks Other U.S. government loans Acceptance liabilities to banks 37 38 Trade payables Security debt 39 40 41 42 43 Miscellaneous liabilities U.S. equity in IBRD, etc. Nonofficial foreign currencies U.S. direct investment abroad (1,2) Other Memo: 44 Market value of foreign equities 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). 70 Z.1, June 10, 2010 L.108 Monetary Authority (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 796.8 841.3 878.7 908.2 951.3 2270.6 2117.3 2038.3 2180.0 2267.2 2338.7 1 2 3 4 Gold and foreign exchange SDR certificates Treasury currency 30.8 2.2 35.5 32.3 2.2 36.4 29.9 2.2 36.5 31.4 2.2 38.2 34.2 2.2 38.7 35.7 2.2 38.7 34.5 2.2 42.3 35.5 2.2 42.4 37.0 5.2 42.6 36.2 5.2 42.7 35.4 5.2 42.7 2 3 4 5 Federal Reserve float -0.3 0.9 0.9 -0.3 -0.0 -1.5 -3.1 -2.8 -2.5 -2.1 -1.6 5 6 7 8 Federal Reserve loans to domestic banks Discount window (2) AMLF (3) 0.1 0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.0 48.6 48.6 0.0 559.7 544.0 15.7 540.8 536.4 4.5 328.5 318.7 9.8 207.2 207.2 0.1 96.6 96.6 0.0 11.5 11.5 0.0 6 7 8 9 Security RPs 43.8 33.0 46.8 40.8 46.5 80.0 0.0 0.0 0.0 0.0 0.0 9 666.7 717.8 744.2 778.9 740.6 986.0 1168.1 1469.5 1776.6 1987.7 2151.8 10 0.0 666.7 0.0 0.0 717.8 0.0 0.0 744.2 0.0 0.0 778.9 0.0 0.0 740.6 0.0 0.0 475.9 19.7 0.0 492.3 287.0 0.0 656.5 559.1 0.0 769.2 823.5 0.0 776.6 1068.3 0.0 776.7 1237.7 11 12 13 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 490.4 0.0 0.0 45.5 29.1 38.9 19.5 24.4 333.0 388.8 4.7 0.0 20.4 29.1 46.0 18.6 24.2 245.8 253.9 25.1 0.0 5.1 29.2 43.5 17.7 22.6 110.8 183.9 42.7 0.0 0.0 29.2 38.7 16.8 19.9 36.6 142.8 47.5 0.0 0.0 29.2 22.2 16.0 18.5 9.4 137.4 47.2 0.0 0.0 29.3 25.4 15.3 17.3 2.9 14 15 16 17 18 19 20 21 22 0.0 18.2 0.0 18.2 0.0 18.6 0.0 18.6 0.0 18.1 0.0 18.1 0.0 17.0 0.0 17.0 0.0 40.5 24.0 16.5 0.0 569.8 553.7 16.1 0.0 332.5 309.9 22.6 0.0 163.0 114.6 48.4 0.0 114.0 56.8 57.2 25.1 75.9 10.3 65.6 25.4 68.2 0.0 68.2 23 24 25 26 788.0 829.6 865.7 892.9 932.8 2249.6 2093.4 2013.9 2153.8 2241.6 2312.7 27 10 Total financial assets 2004 Credit market instruments 11 12 13 Open market paper Treasury securities Agency- and GSE-backed securities 14 15 16 17 18 19 20 21 22 Bank loans n.e.c. Households (TALF) (4) Rest of world Brokers and dealers (5) Funding corporations (Maiden Lane) (6) Funding corporations (AIG) Funding corporations (Maiden Lane II) (7) Funding corporations (Maiden Lane III)(8) Funding corporations (CPFF) (9) 23 24 25 26 27 Corporate equities (10) Miscellaneous assets Nonofficial foreign currencies (11) Other Total liabilities 28 29 Depository institution reserves Vault cash of commercial banks 23.1 48.0 24.0 41.5 19.0 50.1 18.7 51.7 20.8 55.0 860.0 57.7 805.2 50.3 660.5 51.1 848.1 50.7 977.0 54.9 1053.9 51.9 28 29 30 Checkable deposits and currency 683.0 720.8 750.8 774.3 792.1 1220.3 1142.8 1196.6 1154.4 1102.7 1120.4 30 6.0 0.3 5.7 0.0 6.2 0.3 5.9 0.0 4.8 0.2 4.6 0.0 5.0 0.3 4.7 0.0 16.4 0.3 16.1 0.0 365.7 0.3 106.1 259.3 267.4 0.3 67.2 199.9 316.2 0.3 116.0 199.9 273.6 0.3 108.3 164.9 191.9 0.2 186.6 5.0 216.7 0.2 91.5 125.0 31 32 33 34 0.2 0.6 676.2 0.1 1.1 713.3 0.1 2.0 743.9 0.1 0.8 768.5 0.1 1.7 773.9 1.4 21.1 832.2 1.2 20.9 853.4 1.8 20.0 858.6 1.9 15.9 863.0 2.4 35.1 873.3 1.7 19.3 882.7 35 36 37 31 32 33 34 Due to federal government Treasury cash holdings Treasury general deposit account Treasury temporary supplementary financing account 35 36 37 Due to rest of the world Due to government-sponsored enterprises Currency outside banks 38 Security RPs 25.7 30.8 30.5 29.6 44.0 88.4 70.6 72.7 68.9 77.7 57.8 38 39 40 41 Miscellaneous liabilities Federal Reserve Bank stock Other 8.3 8.8 -0.6 12.5 11.9 0.6 15.3 13.5 1.8 18.5 15.3 3.2 21.0 18.5 2.5 23.1 21.1 2.1 24.5 22.6 1.9 33.0 24.2 8.8 31.7 24.9 6.8 29.2 25.6 3.6 28.7 26.3 2.5 39 40 41 (1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board. (2) Loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit. (3) Loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF). (4) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF). (5) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the AMLF. (6) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc. (7) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries. (8) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts. (9) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC. (10) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. (11) Reciprocal currency arrangements (swap lines) with foreign central banks. 71 Z.1, June 10, 2010 L.109 Commercial Banking (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 Vault cash Reserves at Federal Reserve Checkable deposits and currency 5 Total bank credit 6 7 8 Open market paper Treasury securities Agency- and GSE-backed securities 9 10 Municipal securities Corporate and foreign bonds 11 12 13 14 Bank loans n.e.c. Mortgages Consumer credit Security credit 15 16 Corporate equities Mutual fund shares 17 18 19 Customers’ liab. on acceptances (2) Miscellaneous assets Total liabilities 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 8229.7 9057.8 9843.7 10821.0 11809.5 14001.4 14446.2 14184.8 14133.2 14133.0 14438.6 1 48.0 19.7 2.5 41.5 20.8 3.5 50.1 16.3 3.0 51.7 16.7 2.9 55.0 18.2 2.6 57.7 816.3 3.2 50.3 731.7 4.3 51.1 584.4 3.3 50.7 790.0 2.8 54.9 908.7 4.2 51.9 963.6 3.9 2 3 4 6239.6 6851.5 7546.6 8402.1 9186.6 9672.4 9551.9 9519.0 9318.1 9297.5 9538.0 5 0.0 132.1 1000.3 0.0 107.8 1095.1 0.0 97.0 1089.6 0.0 94.9 1135.6 0.0 112.3 1022.3 15.7 93.2 1169.4 4.5 117.1 1175.4 9.8 123.7 1221.3 0.1 180.3 1185.8 0.0 185.4 1276.9 0.0 252.2 1270.9 6 7 8 132.7 481.2 140.8 563.6 157.7 687.0 180.2 780.3 192.9 978.2 216.7 979.9 214.8 957.4 219.7 939.0 218.0 949.4 218.6 867.7 219.3 786.1 9 10 1335.1 2255.8 669.4 200.9 1410.1 2595.6 704.3 195.8 1577.9 2958.0 707.0 230.7 1704.8 3403.1 741.2 302.2 2026.9 3644.4 804.1 334.5 2230.3 3841.4 878.6 221.0 2124.0 3853.3 850.7 216.6 2029.4 3897.6 837.8 194.1 1864.1 3795.4 832.7 222.0 1778.9 3818.7 855.3 219.6 1766.3 3760.6 1163.2 232.7 11 12 13 14 15.0 17.1 20.3 18.1 24.1 17.4 35.3 24.5 41.5 29.6 6.7 19.6 4.5 33.5 10.5 36.0 20.5 49.7 30.3 46.1 34.7 52.1 15 16 4.4 1915.7 4.0 2136.4 4.0 2223.7 0.4 2347.2 0.5 2546.6 0.0 3451.8 0.0 4108.0 0.0 4027.1 0.0 3971.6 0.0 3867.7 0.0 3881.3 17 18 7379.4 8096.8 8685.2 9463.6 10400.8 12470.7 12669.4 12387.3 12493.1 12503.5 12756.2 19 20 21 22 23 Net interbank liabilities To monetary authority To domestic banks (3) To foreign banks 119.3 -0.3 10.0 109.6 144.2 1.0 24.9 118.3 128.3 1.0 21.3 106.0 115.7 -0.3 19.3 96.7 12.8 48.6 21.1 -56.9 983.1 558.2 51.7 373.3 751.3 537.7 58.3 155.2 388.6 325.7 93.2 -30.2 369.6 204.7 66.0 98.9 220.7 94.5 86.1 40.0 96.7 9.9 60.0 26.8 20 21 22 23 24 25 26 27 Checkable deposits Federal government Rest of the world Private domestic 607.2 30.2 4.1 573.0 646.7 26.9 13.2 606.6 610.3 33.9 19.7 556.8 574.4 28.0 28.8 517.6 587.7 42.9 34.1 510.7 729.1 3.5 58.9 666.7 666.6 4.3 49.4 612.9 729.4 4.0 47.2 678.1 735.9 3.7 43.4 688.8 814.0 3.8 44.8 765.5 770.0 4.1 45.7 720.3 24 25 26 27 28 29 30 Small time and savings deposits Large time deposits Federal funds and security RPs (net) 2978.2 928.1 714.3 3258.7 1120.6 727.4 3527.1 1363.7 817.7 3814.7 1627.7 888.2 4077.7 1925.3 838.5 4619.1 1827.7 482.8 4753.6 1763.7 468.7 4777.9 1770.0 622.1 4862.7 1784.9 655.4 5003.5 1824.8 766.6 5113.5 1713.5 860.4 28 29 30 31 Credit market instruments 660.4 738.7 823.9 998.0 1261.2 1422.0 1724.9 1720.8 1685.1 1625.3 1923.2 31 46.6 378.4 235.3 57.2 437.4 244.1 61.2 494.1 268.5 79.3 570.1 348.5 117.2 688.7 455.2 77.7 818.0 526.3 56.1 1211.0 457.8 51.9 1216.4 452.5 55.6 1225.4 404.2 60.8 1162.5 402.0 206.5 1359.7 357.0 32 33 34 35.1 1336.9 33.6 1426.8 25.8 1388.5 24.7 1420.3 11.1 1686.6 -74.6 2481.5 -72.6 2613.2 -80.9 2459.4 -65.9 2465.5 -67.5 2316.2 -73.7 2352.7 35 36 6010.9 0.0 6621.2 0.0 7278.4 0.0 8040.5 0.0 8781.6 11.2 9425.1 9.5 9297.3 9.1 9278.3 8.1 9025.8 7.3 9001.4 6.9 9218.5 7.6 37 38 32 33 34 35 36 Open market paper Corporate bonds Other loans and advances Taxes payable (net) Miscellaneous liabilities Memo: 37 38 Credit market funds advanced (4) Consumer leases not included above (5) (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. 72 Z.1, June 10, 2010 L.110 U.S.-Chartered Commercial Banks Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 2009 Q1 1 Total financial assets Q2 Q3 Q4 2010 Q1 6216.0 6865.1 7392.5 8189.5 8840.8 10247.7 10036.5 9987.5 9924.6 10044.6 10256.7 1 66.8 61.6 65.5 67.8 72.2 635.1 568.4 490.0 611.4 679.5 684.1 2 5527.0 6118.0 6621.3 7320.5 7883.7 8382.9 8320.6 8390.6 8231.3 8290.0 8529.7 3 Open market paper Treasury securities Agency- and GSE-backed securities Mortgage pass-through securities CMOs and other structured MBS Other 0.0 93.5 906.4 491.4 161.5 253.5 0.0 74.2 996.1 581.7 156.7 257.7 0.0 64.2 992.7 579.0 152.3 261.5 0.0 61.9 1040.3 647.8 147.2 245.3 0.0 73.0 928.9 592.8 142.8 193.3 15.7 53.4 1068.7 744.9 157.1 166.7 4.5 71.0 1085.4 730.2 166.9 188.4 9.8 82.7 1136.8 765.1 173.5 198.2 0.1 119.0 1106.5 700.5 191.9 214.1 0.0 117.7 1200.0 733.6 215.3 251.1 0.0 181.6 1197.6 697.0 260.5 240.1 4 5 6 7 8 9 10 11 12 13 14 Municipal securities Corporate and foreign bonds Private mortgage pass-through securities Private CMOs and other structured MBS Other 132.1 305.8 12.2 92.6 201.0 140.4 364.6 18.9 108.0 237.7 157.2 411.6 23.9 146.2 241.5 178.9 470.7 32.7 158.8 279.1 190.9 572.4 48.2 223.7 300.5 214.1 542.0 23.8 222.2 296.0 211.8 572.9 22.5 214.0 336.4 217.3 603.7 25.8 209.8 368.1 214.5 624.1 27.2 206.0 391.0 215.1 590.4 25.9 194.9 369.6 216.2 515.4 22.9 164.9 327.6 10 11 12 13 14 15 16 17 18 Bank loans n.e.c. Mortgages Consumer credit Security credit 1083.0 2213.3 669.4 91.4 1150.5 2547.3 704.3 102.2 1249.3 2902.1 707.0 95.6 1312.2 3338.9 741.2 116.5 1532.9 3564.6 804.1 145.9 1670.8 3754.7 878.6 158.6 1580.7 3766.4 850.7 139.1 1523.3 3811.8 837.8 120.9 1395.0 3712.1 832.7 157.1 1338.4 3738.6 855.3 158.0 1327.3 3681.2 1163.2 160.3 15 16 17 18 19 20 Corporate equities Mutual fund shares 15.0 17.1 20.3 18.1 24.1 17.4 35.3 24.5 41.5 29.6 6.7 19.6 4.5 33.5 10.5 36.0 20.5 49.7 30.3 46.1 34.7 52.1 19 20 3.8 618.4 3.3 682.2 3.3 702.5 0.0 801.2 0.0 884.8 0.0 1229.7 0.0 1147.5 0.0 1106.9 0.0 1082.0 0.0 1075.1 0.0 1043.0 21 22 2 Vault cash and reserves at Federal Reserve 3 Total bank credit 4 5 6 7 8 9 21 22 23 Customers’ liab. on acceptances (1) Miscellaneous assets 5936.9 6660.8 7119.5 7760.2 8370.1 9753.3 9562.6 9511.4 9617.6 9720.7 9890.3 23 24 25 26 27 28 Total liabilities Net interbank liabilities Federal Reserve float Borrowing from Federal Reserve banks To domestic banks To foreign banks 182.0 -0.3 0.1 -55.8 238.0 271.9 0.9 0.0 -22.8 293.8 288.5 0.9 0.1 -22.3 309.9 361.2 -0.3 0.1 -58.9 420.3 502.5 -0.0 48.6 -24.4 478.3 1289.2 -1.5 559.7 86.4 644.6 1075.1 -3.1 540.8 3.9 533.5 912.1 -2.8 328.5 22.6 563.8 889.7 -2.5 207.2 39.3 645.7 673.6 -2.1 96.6 27.9 551.2 449.5 -1.6 11.5 -25.6 465.2 24 25 26 27 28 29 30 31 32 Checkable deposits Federal government Rest of the world Private domestic 585.8 30.2 1.5 554.1 624.5 26.9 11.2 586.4 587.7 33.9 17.4 536.5 551.2 28.0 26.8 496.4 560.2 42.9 31.7 485.5 700.9 3.5 54.2 643.3 637.9 4.3 45.0 588.6 698.8 4.0 42.6 652.2 705.3 3.7 33.5 668.1 781.9 3.8 34.3 743.8 737.4 4.1 34.8 698.5 29 30 31 32 33 34 35 Small time and savings deposits Large time deposits Federal funds and security RPs (net) 2950.5 555.7 554.5 3230.2 671.3 569.1 3493.1 838.1 626.1 3770.9 968.0 647.5 4025.9 991.1 611.4 4566.2 1015.6 352.4 4701.5 976.3 362.2 4728.5 915.6 483.3 4810.6 865.8 515.8 4949.1 841.7 644.0 5056.4 787.8 716.6 33 34 35 36 37 38 39 Open market paper Corporate bonds Other loans and advances Taxes payable (net) 3.8 98.9 235.3 35.1 3.4 109.3 244.1 33.6 3.3 121.7 268.5 25.8 0.0 149.2 348.5 24.7 0.0 174.4 455.2 11.1 0.0 182.4 526.3 -74.6 0.0 168.3 457.8 -72.6 0.0 165.3 452.5 -80.9 0.0 158.3 404.2 -65.9 0.0 154.1 402.0 -67.5 132.5 365.4 357.0 -73.7 36 37 38 39 40 41 42 Miscellaneous liabilities Investment by bank holding companies Other 735.4 689.8 45.7 903.4 857.0 46.4 866.6 897.0 -30.4 939.1 1006.9 -67.8 1038.4 1133.1 -94.7 1194.9 1181.3 13.6 1256.2 1245.4 10.8 1236.1 1260.8 -24.7 1333.9 1320.8 13.0 1341.9 1346.3 -4.4 1361.5 1341.4 20.1 40 41 42 5407.3 0.0 5980.7 0.0 6487.4 0.0 7144.1 0.0 7666.8 11.2 8197.9 9.5 8143.4 9.1 8223.3 8.1 8003.9 7.3 8055.5 6.9 8282.5 7.6 43 44 Memo: 43 44 Credit market funds advanced (2) Consumer leases not included above (3) (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. 73 Z.1, June 10, 2010 L.111 Foreign Banking Offices in U.S. (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 777.0 664.1 818.1 828.2 1048.0 1624.5 1505.3 1300.2 1308.4 1267.8 1305.7 1 0.9 0.7 0.9 0.6 1.0 239.0 213.6 145.5 229.4 284.1 331.4 2 599.2 606.3 792.1 946.8 1151.4 1126.0 1070.6 963.4 919.4 844.2 845.8 3 Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds 0.0 33.4 53.3 0.0 159.8 0.0 27.7 51.8 0.0 182.2 0.0 27.8 50.9 0.0 262.8 0.0 26.8 55.1 0.0 292.5 0.0 30.4 57.1 0.0 369.5 0.0 35.5 50.5 0.0 401.6 0.0 44.7 45.6 0.0 352.3 0.0 33.2 38.7 0.0 304.3 0.0 56.4 35.2 0.0 289.8 0.0 61.4 32.1 0.0 244.9 0.0 63.9 32.4 0.0 235.6 4 5 6 7 8 9 10 11 Bank loans n.e.c. Mortgages Security credit 225.7 17.5 109.5 234.0 16.9 93.7 294.7 20.8 135.1 361.8 24.9 185.6 466.8 39.0 188.6 531.9 44.2 62.3 506.3 44.2 77.5 470.9 43.1 73.3 432.6 40.5 65.0 406.5 37.8 61.6 403.8 37.9 72.3 9 10 11 12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12 0.6 176.3 0.7 56.4 0.8 24.3 0.4 -119.6 0.5 -104.9 0.0 259.6 0.0 221.1 0.0 191.3 0.0 159.5 0.0 139.5 0.0 128.4 13 14 792.4 680.3 834.8 844.6 1067.5 1639.3 1520.2 1316.2 1325.2 1284.0 1321.5 15 2 Reserves at Federal Reserve 3 Total bank credit 4 5 6 7 8 13 14 15 Customers’ liab. on acceptances (2) Miscellaneous assets Total liabilities 16 17 18 Net interbank liabilities To foreign banks To domestic banks -68.9 -95.3 26.4 -135.7 -167.9 32.2 -141.7 -176.7 35.0 -213.0 -255.3 42.2 -404.1 -424.6 20.5 -163.9 -180.2 16.2 -233.4 -250.8 17.4 -404.3 -439.3 35.0 -353.1 -380.6 27.5 -322.4 -356.1 33.7 -256.9 -305.5 48.7 16 17 18 19 20 21 Checkable deposits Small time and savings deposits Large time deposits 9.5 10.2 354.9 8.7 9.5 430.3 9.3 10.0 501.7 9.3 18.6 634.5 11.8 25.5 907.9 13.5 25.6 784.7 13.8 26.2 761.5 15.0 24.1 829.2 14.8 27.0 893.9 16.1 29.9 958.6 16.4 32.9 901.4 19 20 21 22 23 Federal funds and security RPs (net) Acceptance liabilities 157.7 0.6 157.5 0.7 190.9 0.8 239.9 0.5 226.3 0.5 130.0 0.0 134.3 0.0 172.4 0.0 178.5 0.0 170.3 0.0 195.3 0.0 22 23 24 25 26 27 Miscellaneous liabilities Foreign direct investment in U.S. Due to affiliates Other 328.4 85.2 134.7 108.5 209.2 122.7 167.7 -81.2 263.8 130.2 188.8 -55.1 154.8 135.4 197.3 -177.9 299.6 134.3 241.0 -75.8 849.4 119.1 276.6 453.7 817.8 116.6 269.3 431.8 679.9 121.7 224.5 333.7 564.0 124.6 199.1 240.3 431.5 132.4 200.9 98.1 432.4 134.3 186.9 111.2 24 25 26 27 490.3 513.3 657.8 761.6 963.3 1063.7 993.2 890.2 854.5 782.7 773.5 28 Memo: 28 Credit market funds advanced (3) (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). 74 Z.1, June 10, 2010 L.112 Bank Holding Companies Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 6 7 8 9 10 11 Total financial assets Credit market instruments Treasury securities Agency- and GSE-backed securities Corporate and foreign bonds Bank loans n.e.c. Miscellaneous assets Investment in bank subsidiaries Investment in nonbank subsidiaries Other Total liabilities 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 1153.1 1429.0 1523.8 1695.3 1813.2 2024.0 2800.9 2795.3 2798.6 2721.7 2781.0 1 36.4 36.4 32.2 35.6 58.7 72.6 71.5 75.5 76.5 75.1 78.7 2 2.7 11.6 14.2 7.9 2.0 13.5 15.5 5.3 1.1 11.2 11.8 8.1 2.5 11.2 16.7 5.1 7.1 9.9 35.9 5.8 3.1 25.8 35.8 7.9 0.6 21.6 32.0 17.3 7.0 22.4 29.5 16.6 4.2 22.3 33.1 16.8 5.8 24.3 30.4 14.6 5.8 22.6 33.6 16.7 3 4 5 6 1116.7 689.8 265.0 161.9 1392.6 857.0 341.3 194.4 1491.6 897.0 384.0 210.6 1659.7 1006.9 406.6 246.2 1754.6 1133.1 343.6 277.9 1951.4 1181.3 397.7 372.5 2729.4 1245.4 961.3 522.7 2719.9 1260.8 949.5 509.6 2722.1 1320.8 901.9 499.3 2646.6 1346.3 825.8 474.5 2702.2 1341.4 904.2 456.6 7 8 9 10 571.5 661.7 627.6 756.7 868.8 987.0 1497.9 1472.8 1457.5 1408.8 1457.4 11 6.3 39.4 -33.1 8.0 15.5 -7.5 -18.5 8.6 -27.1 -32.4 36.0 -68.4 -85.6 25.0 -110.6 -142.2 -51.0 -91.2 -90.4 37.0 -127.5 -119.2 35.6 -154.8 -167.0 -0.9 -166.2 -130.6 24.5 -155.1 -96.0 36.9 -132.8 12 13 14 2.1 0.8 0.6 0.8 0.8 0.4 -27.8 -33.6 -38.9 -47.7 -51.5 15 12 13 14 Net interbank liabilities To domestic banks To foreign banks 15 Federal funds and security RPs (net) 16 17 18 Credit market instruments Commercial paper Corporate bonds 321.8 42.3 279.5 381.3 53.1 328.2 429.5 57.1 372.4 499.7 78.8 420.9 631.1 116.7 514.4 713.3 77.7 635.6 1098.8 56.1 1042.6 1103.0 51.9 1051.1 1122.7 55.6 1067.1 1069.2 60.8 1008.4 1068.3 73.9 994.4 16 17 18 19 Miscellaneous liabilities 241.4 271.6 216.0 288.6 322.4 415.5 517.4 522.5 540.8 517.9 536.6 19 108.1 107.5 105.2 103.5 101.8 101.7 98.8 95.3 1 L.113 Banks in U.S.-Affiliated Areas (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 Checkable deposits and currency 3 Credit market instruments 4 5 6 7 8 9 10 11 12 83.6 99.5 109.3 2.5 3.5 3.0 2.9 2.6 3.2 4.3 3.3 2.8 4.2 3.9 2 76.9 90.8 101.0 99.3 92.8 90.9 89.2 89.5 90.9 88.1 83.8 3 Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds 2.5 28.9 0.6 1.4 3.8 33.6 0.3 1.3 3.9 34.8 0.5 0.8 3.7 29.0 1.3 0.4 1.8 26.3 2.0 0.5 1.2 24.4 2.5 0.5 0.8 22.8 3.0 0.2 0.8 23.5 2.4 1.5 0.7 21.8 3.5 2.3 0.5 20.5 3.5 2.0 0.9 18.4 3.1 1.4 4 5 6 7 Bank loans n.e.c. Home mortgages Commercial mortgages 18.5 12.2 12.8 20.3 15.6 15.9 25.9 16.3 18.8 25.6 17.2 22.0 21.4 21.5 19.3 19.7 22.9 19.7 19.7 23.0 19.6 18.6 22.9 19.8 19.7 23.0 19.9 19.4 22.6 19.6 18.4 22.3 19.3 8 9 10 4.3 5.2 5.3 5.9 12.1 11.1 10.0 9.1 8.0 6.5 7.6 11 Miscellaneous assets 78.6 94.0 103.4 102.1 94.4 91.0 88.6 87.0 92.7 90.0 87.0 12 13 14 15 Total liabilities Checkable deposits Small time and savings deposits Large time deposits 11.9 17.5 17.5 13.5 19.0 19.0 13.3 23.9 23.9 14.0 25.2 25.2 15.7 26.3 26.3 14.6 27.4 27.4 14.9 25.9 25.9 15.6 25.3 25.3 15.8 25.1 25.1 16.1 24.5 24.5 16.2 24.3 24.3 13 14 15 16 Miscellaneous liabilities 31.7 42.5 42.2 37.7 26.2 21.7 21.8 20.8 26.7 25.0 22.2 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. 75 Z.1, June 10, 2010 L.114 Savings Institutions (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 5 Reserves at Federal Reserve Checkable deposits and currency Time and savings deposits Federal funds and security RPs 6 Credit market instruments 7 8 9 10 11 12 Open market paper Treasury securities Agency- and GSE-backed securities Mortgage pass-through securities CMOs and other structured MBS Other 13 14 15 16 17 Municipal securities Corporate and foreign bonds Private mortgage pass-through securities Private CMOs and other structured MBS Other 18 19 20 Other loans and advances Mortgages Consumer credit 21 22 23 Corporate equities Miscellaneous assets Total liabilities 24 25 26 27 Deposits Checkable Small time and savings Large time 28 Security RPs 29 30 31 32 Credit market instruments Corporate bonds Bank loans n.e.c. Other loans and advances 33 34 35 36 Taxes payable Miscellaneous liabilities Investment by parent Other 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 1465.9 1649.6 1789.4 1714.8 1815.0 1523.5 1531.9 1397.5 1372.7 1253.7 1262.3 1 3.4 24.8 2.6 12.3 3.3 21.3 3.2 9.1 2.7 23.7 2.7 9.0 2.0 20.4 6.6 18.3 2.6 20.0 9.9 45.6 39.0 8.7 8.3 34.7 49.0 10.2 10.3 29.5 54.0 6.3 10.2 10.3 42.5 7.9 17.6 19.2 45.5 4.5 15.3 12.0 55.3 0.8 19.1 9.5 2 3 4 5 1294.2 1417.7 1617.1 1533.2 1596.1 1320.0 1311.5 1212.2 1188.2 1079.2 1080.8 6 0.0 12.2 198.8 113.8 24.3 60.6 0.0 8.4 136.4 90.4 23.4 22.7 0.0 12.3 192.3 116.0 30.7 45.5 0.0 12.5 177.0 98.4 32.8 45.9 0.0 7.0 177.4 104.2 31.3 41.8 0.0 3.0 173.8 106.1 36.9 30.8 0.0 3.6 175.9 103.4 37.7 34.8 0.0 4.6 187.6 101.5 47.3 38.9 0.0 6.0 197.4 95.6 50.1 51.7 0.0 6.8 201.6 95.5 53.0 53.2 0.0 7.1 209.9 97.1 56.1 56.7 7 8 9 10 11 12 6.6 71.9 10.7 5.7 55.5 7.4 59.2 8.2 40.5 10.5 9.0 80.2 7.7 58.6 13.9 11.2 92.7 11.0 65.8 16.0 11.0 142.2 6.5 105.2 30.4 7.8 108.5 5.2 63.4 39.9 8.6 112.8 3.7 42.1 66.9 8.7 108.6 3.7 33.9 71.0 9.2 105.8 2.6 33.4 69.7 9.2 85.1 2.8 33.0 49.4 9.6 81.7 2.8 30.7 48.2 13 14 15 16 17 56.3 870.6 77.9 57.6 1057.4 91.3 61.5 1152.7 109.1 67.5 1076.8 95.5 73.7 1094.0 90.8 80.1 860.6 86.3 80.7 849.8 80.0 74.5 752.2 75.9 65.9 725.8 78.1 65.6 633.3 77.5 65.1 629.3 78.0 18 19 20 30.4 98.1 28.2 166.7 26.2 107.9 24.9 109.3 25.3 115.5 22.7 90.0 21.6 99.9 24.1 80.3 24.6 72.8 22.2 74.9 21.8 75.0 21 22 1329.8 1495.0 1619.2 1535.8 1649.2 1395.7 1389.1 1257.6 1229.2 1124.4 1126.8 23 924.8 80.7 599.0 245.1 990.2 81.2 584.5 324.5 1066.8 85.0 618.5 363.3 1091.4 85.9 647.5 358.0 1104.6 79.4 638.1 387.1 948.6 76.6 578.5 293.5 971.9 76.4 582.9 312.6 944.2 75.9 568.2 300.2 923.7 90.5 678.0 155.2 895.3 89.7 667.9 137.7 905.6 90.0 674.7 140.8 24 25 26 27 60.9 63.3 61.0 41.8 17.6 17.6 19.4 10.9 70.3 53.6 53.9 28 313.4 5.1 59.0 249.3 404.8 7.6 87.9 309.3 427.3 8.7 93.1 325.5 319.1 10.7 48.6 259.8 423.3 10.4 62.0 350.9 356.1 2.4 75.0 278.7 321.8 2.0 67.5 252.4 253.2 2.2 62.0 189.0 192.3 2.3 11.3 178.7 152.3 2.3 11.0 139.1 143.3 3.2 11.3 128.8 29 30 31 32 2.6 28.1 15.6 12.6 3.6 33.2 19.0 14.3 3.6 60.5 22.7 37.8 3.3 80.2 24.7 55.5 1.3 102.4 25.3 77.1 1.0 72.3 31.6 40.7 1.4 74.7 24.0 50.7 0.8 48.5 24.3 24.2 1.4 41.5 23.9 17.6 1.3 21.8 22.2 -0.4 1.6 22.4 23.1 -0.7 33 34 35 36 (1) Savings and loan associations, mutual savings banks, and federal savings banks. 76 Z.1, June 10, 2010 L.115 Credit Unions Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 5 Reserves at Federal Reserve Checkable deposits and currency Time and savings deposits Federal funds and security RPs (net) 6 Credit market instruments 7 8 9 10 Open market paper Treasury securities Agency- and GSE-backed securities Corporate and foreign bonds 11 12 13 Other loans and advances Home mortgages Consumer credit 14 15 16 Mutual fund shares Miscellaneous assets Total liabilities 17 18 19 20 Shares/deposits Checkable Small time and savings Large time 21 22 Other loans and advances Miscellaneous liabilities 2004 2005 2006 2007 2008 2009 Q1 Q2 Q3 Q4 2010 Q1 617.2 654.7 685.7 716.2 758.7 812.4 855.4 868.6 872.0 882.7 892.4 1 0.0 41.5 27.1 1.6 0.0 40.2 26.4 4.1 0.0 38.1 21.9 6.7 0.0 44.4 17.0 5.1 0.0 43.3 17.0 2.5 4.7 37.6 28.3 -2.3 24.5 36.9 34.0 -0.5 22.2 32.3 35.7 0.1 15.6 37.3 36.5 0.1 22.8 39.1 37.8 0.1 35.0 37.1 45.4 0.1 2 3 4 5 516.6 556.4 592.6 622.7 657.9 697.9 698.6 717.0 725.9 731.0 735.9 6 0.7 8.8 94.3 24.3 0.8 8.9 93.1 25.0 0.8 7.7 86.4 23.5 1.0 7.4 72.5 30.6 0.4 10.4 68.4 34.6 0.0 8.8 82.9 25.7 0.0 8.3 91.9 17.6 0.0 12.4 100.7 18.0 0.0 13.0 105.2 17.9 0.0 14.2 110.8 18.6 0.0 14.3 124.3 18.5 7 8 9 10 23.0 159.6 205.9 24.9 188.3 215.4 25.9 219.7 228.6 26.8 249.7 234.5 26.9 281.5 235.7 29.6 314.7 236.2 31.4 316.3 233.3 32.2 319.0 234.7 31.8 317.7 240.3 32.3 317.9 237.2 31.8 319.0 228.0 11 12 13 4.1 26.3 3.1 24.5 2.2 24.2 2.1 24.9 2.1 35.9 2.0 44.2 1.8 60.1 1.8 59.6 1.5 55.1 1.3 50.6 1.6 37.3 14 15 561.5 595.2 622.7 648.7 688.2 742.7 792.2 801.5 803.9 815.3 824.0 16 545.0 66.5 424.9 53.6 574.5 74.1 440.4 60.0 596.1 81.1 452.5 62.5 620.6 72.6 483.0 65.0 652.3 73.7 508.7 69.9 697.4 75.3 551.7 70.4 741.2 80.8 582.2 78.3 752.2 80.5 590.9 80.8 754.8 79.3 590.5 85.1 769.4 86.9 655.1 27.3 786.5 87.3 671.0 28.2 17 18 19 20 9.1 7.4 11.4 9.3 14.7 11.9 18.9 9.2 32.3 3.6 40.6 4.7 30.3 20.7 28.5 20.8 28.3 20.8 26.5 19.4 25.4 12.1 21 22 L.116 Property-Casualty Insurance Companies Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 3 4 Checkable deposits and currency Money market fund shares Security RPs (net) 5 Credit market instruments 6 7 8 9 10 11 1245.0 1334.6 1381.0 1303.2 1272.7 1307.4 1352.4 1369.3 1386.1 1 34.6 14.3 1.1 25.9 13.4 0.9 21.0 12.8 1.4 29.9 13.5 0.7 42.7 20.7 3.1 27.9 32.8 2.0 26.0 32.8 0.0 33.9 28.7 0.0 33.6 27.9 0.0 27.6 29.1 0.0 27.5 23.9 0.0 2 3 4 660.5 746.5 819.3 864.1 869.3 853.4 855.6 863.2 873.2 887.5 890.5 5 13.7 86.2 115.4 12.3 106.6 112.1 15.8 106.9 117.9 16.4 110.0 122.0 13.3 71.3 125.8 19.1 65.6 114.3 19.1 69.5 113.8 16.8 72.6 114.5 16.3 76.9 115.2 17.0 82.2 116.2 13.9 81.2 117.3 6 7 8 Municipal securities Corporate and foreign bonds Commercial mortgages 224.2 218.9 2.1 267.8 245.3 2.4 313.2 262.8 2.7 335.2 277.0 3.5 371.3 282.9 4.8 381.9 267.5 5.0 375.7 272.5 5.0 373.6 280.7 5.0 371.0 289.0 4.8 369.4 298.3 4.4 372.8 301.1 4.3 9 10 11 178.4 4.3 196.6 5.2 199.5 5.7 227.0 6.9 236.2 6.8 193.3 4.4 164.6 4.2 187.6 4.6 219.9 5.0 219.8 5.3 232.7 5.4 12 13 79.3 84.6 79.6 89.9 82.1 103.3 87.0 105.5 85.4 116.8 86.7 102.6 87.4 102.1 87.3 102.1 85.4 107.5 83.0 117.0 84.8 121.4 14 15 668.3 709.8 757.7 825.1 832.4 825.2 812.2 817.2 830.7 833.0 839.2 16 1.0 667.2 1.5 708.3 -1.6 759.3 9.4 815.7 7.0 825.4 -21.1 846.4 -24.2 836.5 -20.5 837.7 -14.5 845.2 -15.8 848.8 -12.4 851.6 17 18 Corporate equities Mutual fund shares 14 15 Trade receivables Miscellaneous assets 17 18 1158.0 Open market paper Treasury securities Agency- and GSE-backed securities 12 13 16 1057.1 Total liabilities Taxes payable (net) Miscellaneous liabilities 77 Z.1, June 10, 2010 L.117 Life Insurance Companies Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 Checkable deposits and currency Money market fund shares 4 Credit market instruments 5 6 7 8 9 10 11 Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Other loans and advances Mortgages 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 3775.0 4133.9 4353.3 4687.8 4952.5 4523.5 4423.4 4554.0 4754.5 4825.5 4919.0 1 47.3 12.6 53.3 17.2 47.7 13.5 56.1 23.3 58.3 21.6 82.8 39.2 70.3 42.8 65.7 41.1 64.1 37.9 52.5 33.7 48.8 29.2 2 3 2478.8 2643.9 2753.9 2786.4 2871.2 2882.8 2945.8 2975.7 3019.8 3061.3 3090.1 4 37.9 80.2 348.9 27.4 81.9 357.1 24.4 95.4 368.5 28.7 87.9 377.4 41.7 70.6 382.9 38.3 105.7 366.2 45.7 141.1 358.8 49.8 148.5 359.8 52.4 167.8 356.8 59.0 176.3 355.9 45.8 179.4 362.3 5 6 7 26.1 1610.5 114.2 260.9 30.1 1756.3 117.8 273.3 32.5 1824.8 122.8 285.5 36.6 1819.5 132.6 303.8 41.4 1862.6 145.8 326.2 47.1 1817.0 166.1 342.4 53.4 1847.7 160.5 338.6 59.6 1866.5 156.5 335.0 66.3 1892.1 152.0 332.4 73.3 1917.2 153.5 326.1 74.7 1951.3 155.1 321.4 8 9 10 11 12 13 Corporate equities Mutual fund shares 919.3 91.7 1053.9 114.4 1161.8 109.0 1364.8 148.8 1464.6 188.4 1001.7 121.0 886.5 113.7 1029.5 123.8 1192.3 136.4 1256.3 140.8 1334.0 144.8 12 13 14 Miscellaneous assets 225.3 251.1 267.3 308.4 348.3 396.0 364.3 318.2 303.8 281.0 272.2 14 3537.2 3866.1 4085.8 4409.4 4659.0 4258.6 4184.2 4306.4 4487.1 4522.0 4613.2 15 15 Total liabilities 16 17 18 19 Security RPs (net) Other loans and advances Life insurance reserves Pension fund reserves (1) 12.5 8.0 972.7 1803.2 9.9 11.1 1018.8 2027.9 18.3 11.5 1039.9 2197.4 18.7 14.2 1119.5 2332.4 17.4 28.7 1156.1 2450.8 4.9 54.9 1133.4 2184.6 -0.8 52.5 1136.6 2155.6 0.2 50.5 1157.6 2221.7 -0.8 47.5 1180.4 2312.3 0.2 48.3 1194.5 2338.0 0.4 45.6 1207.8 2378.7 16 17 18 19 20 21 Taxes payable (net) Miscellaneous liabilities -5.8 746.6 -2.7 801.2 -5.3 824.0 -1.3 925.9 -4.7 1010.6 -24.4 905.0 -21.8 862.0 -6.3 882.6 -3.7 951.4 3.7 937.3 0.0 980.7 20 21 (1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 21). L.118 Private Pension Funds (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 4519.8 4922.4 5388.6 6082.8 6410.6 4552.7 4246.7 4730.2 5270.2 5471.0 5726.7 1 10.4 60.7 84.3 20.3 10.5 55.9 84.9 20.6 10.8 62.2 86.7 21.6 11.2 63.1 90.1 22.4 11.8 67.7 93.5 25.8 12.3 67.9 95.7 33.1 12.3 69.6 96.1 36.8 11.9 69.3 96.2 37.8 14.4 71.3 96.3 42.0 16.4 72.7 96.4 36.2 18.8 73.7 96.4 36.3 2 3 4 5 653.5 654.6 699.9 758.3 860.8 951.4 987.9 1005.1 1037.7 1063.0 1092.4 6 Open market paper Treasury securities Agency- and GSE-backed securities 27.5 116.9 223.5 28.5 113.0 235.3 31.5 116.5 252.0 31.7 130.8 268.6 26.9 169.5 296.8 37.2 184.9 318.1 37.6 214.3 310.6 38.1 236.5 294.4 31.5 280.7 278.8 26.7 310.7 269.1 21.7 341.6 262.0 7 8 9 Corporate and foreign bonds Mortgages 275.3 10.2 267.8 10.0 290.0 9.8 317.6 9.5 357.4 10.2 400.1 11.1 413.9 11.6 424.1 12.1 434.0 12.8 442.9 13.6 452.4 14.6 10 11 2096.6 1126.9 2338.5 1278.2 2441.7 1585.4 2724.8 1880.4 2673.3 2110.6 1599.7 1366.0 1382.7 1268.7 1566.3 1488.7 1770.8 1727.7 1835.7 1817.3 1918.1 1941.5 12 13 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 6 Credit market instruments 7 8 9 10 11 12 13 Corporate equities Mutual fund shares 14 15 16 17 Miscellaneous assets Unallocated insurance contracts (2) Contributions receivable Other 467.3 317.0 49.8 100.5 479.2 328.4 46.6 104.1 480.2 338.4 44.8 97.0 532.5 387.9 42.8 101.8 567.1 431.3 47.2 88.6 426.5 317.6 47.9 61.0 392.6 287.8 48.8 55.9 454.8 338.7 53.4 62.7 509.9 390.0 51.6 68.2 533.3 412.8 50.5 70.0 549.6 433.0 49.9 66.7 14 15 16 17 18 Pension fund reserves (liabilities) (3) 4561.3 4963.0 5427.8 6120.5 6444.8 4588.0 4283.1 4766.5 5306.5 5507.4 5763.2 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. 78 Z.1, June 10, 2010 L.119 State and Local Government Employee Retirement Funds Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 6 Credit market instruments 7 8 9 10 11 12 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 2349.2 2577.5 2721.4 3089.8 3198.8 2324.5 2167.6 2369.8 2602.1 2685.8 2793.9 1 13.7 0.8 13.4 23.4 16.3 1.4 11.6 20.2 15.8 1.3 11.7 19.7 13.1 0.8 13.8 24.1 17.9 0.7 12.4 21.7 17.8 0.7 14.3 23.5 17.6 0.7 14.2 23.3 17.7 0.7 14.3 23.4 17.7 0.7 14.3 23.4 17.6 0.7 14.2 23.3 17.6 0.7 14.2 23.2 2 3 4 5 657.5 675.3 693.4 808.0 820.3 833.5 827.0 823.8 819.2 818.1 817.2 6 Open market paper Treasury securities Agency- and GSE-backed securities 41.6 148.6 235.1 35.2 151.0 258.8 35.2 153.8 258.4 42.8 156.2 307.8 38.4 141.6 331.1 25.9 146.4 337.5 25.7 150.2 329.7 23.9 159.9 319.0 23.9 167.3 309.5 22.8 174.5 299.9 20.7 181.6 290.8 7 8 9 Municipal securities Corporate and foreign bonds Mortgages 4.4 207.4 20.4 1.8 213.5 15.1 1.7 227.9 16.4 3.3 283.4 14.4 2.4 297.0 9.7 1.4 312.9 9.4 1.4 310.5 9.4 1.4 310.2 9.4 1.5 307.7 9.4 1.5 310.1 9.3 1.5 313.3 9.3 10 11 12 1421.0 207.9 1600.9 235.9 1715.8 248.4 1926.1 287.5 2013.7 296.4 1237.9 181.1 1107.2 161.9 1286.2 188.1 1492.5 218.3 1566.5 229.2 1661.2 243.4 13 14 11.3 15.9 15.4 16.3 15.7 15.7 15.6 15.6 16.1 16.2 16.4 15 2396.0 2621.3 2763.4 3156.6 3297.9 2422.0 2264.1 2465.2 2696.4 2778.8 2885.7 16 13 14 Corporate equities Mutual fund shares 15 Miscellaneous assets 16 2004 Pension fund reserves (liabilities) (1) (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; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 5 6 7 8 Total financial assets Credit market instruments Treasury securities Agency- and GSE-backed securities Corporate and foreign bonds Corporate equities Miscellaneous assets (2) Pension fund reserves (liabilities) (3) 958.5 1023.3 1071.5 1141.1 1197.2 1221.2 1192.4 1214.8 1249.7 1324.4 1317.7 1 63.6 68.2 76.0 84.3 96.1 120.3 124.5 124.7 125.8 127.7 129.4 2 55.3 5.1 3.2 60.7 4.6 3.0 68.4 4.6 2.9 76.7 4.7 2.9 88.0 5.0 3.0 112.3 5.1 2.9 116.7 5.0 2.8 116.9 5.0 2.8 117.4 5.4 3.0 119.1 5.6 3.0 120.6 5.8 3.0 3 4 5 79.9 815.0 99.2 855.9 112.6 882.9 138.1 918.7 149.1 952.0 85.6 1015.3 74.7 993.2 92.5 997.6 110.4 1013.5 119.4 1077.2 127.8 1060.6 6 7 958.5 1023.3 1071.5 1141.1 1197.2 1221.2 1192.4 1214.8 1249.7 1324.4 1317.7 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. 79 Z.1, June 10, 2010 L.121 Money Market Mutual Funds (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 5 Foreign deposits Checkable deposits and currency Time and savings deposits Security RPs 6 Credit market instruments 7 8 9 10 11 12 13 Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Miscellaneous assets Total shares outstanding (liabilities) 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 2016.4 1879.8 2006.9 2312.1 3033.1 3757.3 3738.7 3584.2 3363.0 3258.6 2930.7 1 71.5 -2.1 166.8 252.6 78.5 0.6 167.2 234.0 94.7 -0.9 183.0 346.0 84.1 6.7 206.7 394.6 127.3 1.9 270.6 605.9 129.3 7.5 355.2 542.4 79.7 12.7 458.1 561.5 93.1 -6.3 541.1 481.6 103.6 4.2 544.6 495.0 97.1 17.9 573.2 479.9 92.5 5.1 504.6 440.1 2 3 4 5 1471.3 1346.3 1340.8 1560.8 1936.4 2675.0 2575.2 2418.1 2163.8 2031.2 1832.7 6 459.9 132.1 328.6 292.1 258.7 405.8 98.2 267.5 313.8 261.0 492.2 88.6 160.1 336.8 263.2 608.3 82.7 131.4 370.3 368.3 674.6 178.1 235.9 471.0 376.8 618.5 577.7 756.2 494.6 228.0 578.7 519.7 776.3 482.7 217.8 522.1 489.1 733.2 455.8 217.9 513.6 426.4 635.2 420.6 168.1 510.7 406.4 543.0 401.3 169.9 448.5 374.7 465.1 368.7 175.6 7 8 9 10 11 56.2 53.3 43.3 59.2 90.9 47.9 51.4 56.5 51.9 59.1 55.8 12 2016.4 1879.8 2006.9 2312.1 3033.1 3757.3 3738.7 3584.2 3363.0 3258.6 2930.7 13 5856.9 6625.4 6961.6 7311.9 1 (1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117). L.122 Mutual Funds (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 Security RPs 3 Credit market instruments 4 5 6 7 8 9 10 11 12 Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Other loans and advances Corporate equities Miscellaneous assets Total shares outstanding (liabilities) 4654.2 5436.3 6048.9 7068.3 7829.0 5435.3 5107.8 94.5 112.6 115.4 132.8 132.2 124.7 103.6 121.6 136.4 153.3 151.5 2 1506.4 1623.0 1747.1 1932.0 2203.1 2276.4 2319.9 2436.0 2540.0 2657.2 2781.8 3 76.2 144.2 447.5 290.2 532.0 16.4 94.2 149.0 462.7 294.3 596.8 26.0 97.1 155.7 483.4 311.7 662.7 36.5 114.5 160.7 499.1 344.4 767.0 46.3 114.1 179.2 565.4 372.2 889.9 82.4 51.6 187.9 592.7 389.6 959.9 94.8 31.8 193.0 588.1 406.8 1004.8 95.4 49.3 202.2 616.9 430.7 1040.9 95.8 63.9 214.6 635.1 459.0 1071.2 96.2 80.2 255.5 639.1 480.2 1106.1 96.1 78.7 268.9 681.0 500.7 1156.5 96.0 4 5 6 7 8 9 3051.3 2.0 3693.6 7.0 4175.7 10.7 4989.6 14.0 5476.9 16.8 3014.1 20.0 2668.3 16.0 3282.0 17.3 3930.0 19.0 4136.2 14.9 4363.7 14.9 10 11 4654.2 5436.3 6048.9 7068.3 7829.0 5435.3 5107.8 5856.9 6625.4 6961.6 7311.9 12 (1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117). L.123 Closed-End and Exchange-Traded Funds Billions of dollars; amounts outstanding end of period, not seasonally adjusted Closed-end funds 1 2 3 4 5 6 7 Total financial assets Credit market instruments Treasury securities Municipal securities Corporate and foreign bonds Corporate equities Total shares outstanding (liabilities) 205.6 245.9 271.4 294.3 317.1 206.9 200.5 214.8 227.0 233.9 238.4 1 152.6 4.6 89.3 58.8 53.0 163.6 6.8 89.1 67.6 82.3 165.8 7.1 89.4 69.3 105.6 171.8 7.4 89.4 75.1 122.5 170.9 5.6 91.3 74.0 146.2 131.2 3.2 78.5 49.5 75.7 131.5 3.3 79.7 48.5 69.1 135.9 3.7 81.0 51.2 79.0 139.3 3.9 81.9 53.5 87.8 141.5 4.4 81.8 55.3 92.4 143.9 5.0 82.0 56.9 94.6 2 3 4 5 6 205.6 245.9 271.4 294.3 317.1 206.9 200.5 214.8 227.0 233.9 238.4 7 150.8 227.3 300.8 422.8 607.7 530.9 481.9 588.4 689.0 772.9 800.5 8 4.5 2.1 0.0 2.4 146.3 8.2 4.9 0.0 3.3 219.0 15.0 9.7 0.0 5.3 285.8 20.7 13.1 0.0 7.6 402.0 34.0 19.7 0.6 13.8 573.7 57.0 27.0 2.3 27.7 473.9 69.0 31.6 3.1 34.3 412.8 80.5 35.6 4.0 41.0 507.9 91.5 38.6 5.1 47.8 597.5 102.9 41.7 5.9 55.3 669.9 113.2 46.3 6.5 60.4 687.2 9 10 11 12 13 150.8 227.3 300.8 422.8 607.7 530.9 481.9 588.4 689.0 772.9 800.5 14 Exchange-traded funds 8 9 10 11 12 13 14 Total financial assets Credit market instruments Treasury securities Municipal securities Corporate and foreign bonds Corporate equities Total shares outstanding (liabilities) 80 Z.1, June 10, 2010 L.124 Government-Sponsored Enterprises (GSEs) (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 Checkable deposits and currency Time and savings deposits Federal funds and security RPs (net) 5 Credit market instruments 6 7 8 Open market paper Treasury securities Agency- and GSE-backed securities 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 2794.4 2882.9 2819.4 2872.9 3174.3 3400.0 3382.4 3266.6 3126.1 3013.8 6887.0 1 28.8 16.7 75.3 39.1 23.3 93.6 14.6 35.3 107.7 16.4 33.9 117.4 13.7 46.6 142.7 88.3 68.5 114.5 84.1 63.4 159.4 81.0 66.6 102.2 87.5 30.2 116.3 99.4 25.7 122.1 99.0 21.2 176.4 2 3 4 2564.2 2613.0 2543.9 2590.5 2829.5 3033.6 2973.2 2900.7 2803.6 2688.7 6532.9 5 6.7 13.5 1088.9 5.8 12.9 886.5 13.8 13.1 751.1 32.4 14.2 714.0 27.7 15.5 702.9 6.8 16.8 910.0 11.2 17.6 954.0 12.0 19.3 949.0 9.7 21.5 919.4 9.7 21.9 924.5 8.6 60.1 417.0 6 7 8 9 10 Municipal securities Corporate and foreign bonds 44.4 222.8 44.6 414.8 39.7 465.7 36.1 481.7 33.3 464.4 31.3 386.6 30.9 367.4 30.4 384.3 29.7 385.1 29.1 310.8 28.0 324.8 9 10 11 12 13 14 Other loans and advances Sallie Mae Farm Credit System FHLB 545.8 0.3 43.8 501.7 619.4 0.0 43.6 575.8 671.8 0.0 51.6 620.2 704.9 0.0 63.5 641.4 942.6 0.0 75.5 867.1 980.7 0.0 80.3 900.5 873.0 0.0 80.0 792.9 800.8 0.0 80.3 720.5 736.8 0.0 78.1 658.7 695.9 0.0 80.0 615.9 634.5 0.0 77.7 556.8 11 12 13 14 15 16 17 18 19 Mortgages Home Multifamily residential Farm Consumer credit (2) 621.5 519.1 68.2 34.2 20.6 629.0 508.6 82.5 38.0 0.0 588.8 453.9 93.0 42.0 0.0 607.2 457.6 105.4 44.2 0.0 643.1 447.9 147.7 47.6 0.0 701.4 456.9 187.7 56.9 0.0 719.1 470.6 190.8 57.6 0.0 704.8 452.2 194.1 58.5 0.0 701.4 444.4 197.4 59.5 0.0 696.7 438.5 197.8 60.4 0.0 5059.9 4750.6 247.8 61.5 0.0 15 16 17 18 19 109.4 113.9 117.8 114.7 141.7 95.0 102.3 116.1 88.5 77.8 57.4 20 2752.8 2819.9 2734.0 2781.2 3081.3 3394.1 3363.3 3195.3 3063.6 2977.0 6915.6 21 2601.3 2601.3 0.0 2676.3 2676.3 0.0 2592.2 2592.2 0.0 2627.8 2627.8 0.0 2910.2 2910.2 0.0 3181.9 3181.9 0.0 3118.3 3118.3 0.0 2948.1 2948.1 0.0 2800.5 2800.5 0.0 2706.6 2706.6 0.0 6703.8 6703.8 0.0 22 23 24 151.5 143.7 141.8 153.4 171.1 212.1 245.0 247.2 263.1 270.4 211.8 25 20 21 Miscellaneous assets Total liabilities 22 23 24 Credit market instruments GSE issues (3) U.S. government loans 25 Miscellaneous liabilities (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. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.125) are consolidated on Fannie Mae’s and Freddie Mac’s balance sheets. (2) 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; amounts outstanding end of period, not seasonally adjusted 1 3343.3 3384.0 3548.5 3841.1 4464.4 4961.4 5042.0 5170.7 5297.5 5376.4 1048.0 1 2 3 4 5 Total financial assets Home mortgages Multifamily residential mortgages Commercial mortgages Farm mortgages 3233.5 108.7 0.0 1.0 3277.3 105.7 0.0 0.9 3446.4 101.3 0.0 0.8 3749.1 88.8 0.0 3.2 4371.8 88.1 0.0 4.5 4864.0 92.8 0.0 4.7 4943.5 93.8 0.0 4.6 5068.6 97.5 0.0 4.6 5192.1 100.9 0.0 4.5 5266.5 105.4 0.0 4.5 983.5 61.2 0.0 3.3 2 3 4 5 6 Total pool securities (liabilities)(2) 3343.3 3384.0 3548.5 3841.1 4464.4 4961.4 5042.0 5170.7 5297.5 5376.4 1048.0 6 (1) GNMA, Fannie Mae, Freddie Mac, FAMC, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie Mae’s and Freddie Mac’s balance sheets (table L.124). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agencyand 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. 81 Z.1, June 10, 2010 L.126 Issuers of Asset-Backed Securities (ABS) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 3 4 Treasury securities Agency- and GSE-backed securities (1) Other loans and advances 5 6 7 8 Mortgages (2) Home Multifamily residential Commercial 9 10 11 12 13 14 15 16 Consumer credit Trade credit Total liabilities Commercial paper Corporate bonds (net) (3) Memo: Securitized assets not included above Consumer leases (4) REIT assets (5) Securitized liabilities not included above Commercial paper (6) 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 2217.4 2657.4 3387.5 4195.8 4532.2 4120.8 3925.2 3753.7 3564.9 3377.5 2797.5 1 2.8 369.0 149.2 8.0 363.4 168.1 27.7 330.5 188.3 56.4 349.7 253.4 77.5 367.5 341.9 65.1 338.6 379.8 61.4 284.2 360.0 56.6 252.6 343.5 52.4 200.1 326.0 48.7 144.3 328.7 44.7 113.0 314.1 2 3 4 1009.3 666.4 66.2 276.6 1443.7 1048.6 72.7 322.5 2131.3 1621.9 89.3 420.1 2767.0 2140.8 103.2 523.0 2950.0 2174.2 125.4 650.5 2595.4 1860.8 114.4 620.3 2504.1 1777.5 112.8 613.8 2399.6 1680.9 112.1 606.6 2304.5 1595.3 110.3 598.9 2216.9 1527.0 108.2 581.7 2118.9 1439.9 107.3 571.8 5 6 7 8 594.8 92.3 571.5 102.6 609.9 99.8 661.1 108.3 683.7 111.7 646.4 95.5 629.3 86.1 623.8 77.7 614.1 67.8 577.9 61.1 152.3 54.4 9 10 2222.9 2662.2 3391.7 4199.4 4535.4 4123.5 3927.8 3756.2 3567.3 3379.9 2799.7 11 530.0 1692.9 526.1 2136.1 674.4 2717.3 837.4 3362.1 643.1 3892.2 559.3 3564.3 484.7 3443.1 422.4 3333.9 329.6 3237.8 292.5 3087.3 124.5 2675.2 12 13 5.5 30.3 4.8 89.9 4.2 107.3 3.6 110.0 3.1 92.1 2.7 50.4 2.6 46.6 2.5 43.9 2.4 42.9 2.3 37.4 2.3 42.5 14 15 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 132.5 16 (1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs. (2) Mortgages backing privately issued pool securities and privately issued CMOs. (3) Liabilities net of assets. (4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities). The leased automobile is a tangible asset. (5) Included in table L.128. (6) Included in table L.110 line 38. L.127 Finance Companies (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 3 Checkable deposits and currency Time and savings deposits 4 Credit market instruments 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Corporate and foreign bonds Other loans and advances Mortgages Consumer credit Miscellaneous assets Total liabilities Credit market instruments Open market paper Corporate bonds Bank loans n.e.c. Other loans and advances Taxes payable Miscellaneous liabilities Foreign direct investment in U.S. Investment by parent Other Memo: Consumer leases not included above (2) (1) Includes retail captive finance companies and mortgage companies. (2) See footnote (3), table L.126. 1679.5 1858.0 1856.9 1891.3 1911.2 1851.7 1816.2 1777.2 1733.9 1662.5 1665.8 1 27.1 63.2 26.3 61.3 17.4 52.2 15.8 47.4 16.2 48.6 16.5 49.4 17.1 51.2 17.5 52.5 17.1 51.3 17.0 51.0 15.9 47.6 2 3 1468.7 1675.9 1740.6 1811.6 1828.2 1755.9 1703.4 1651.1 1610.4 1532.6 1556.9 4 263.8 441.7 370.2 393.0 256.0 451.5 476.0 492.3 203.5 479.2 541.4 516.5 184.8 498.0 594.4 534.4 189.4 523.0 531.9 584.1 192.4 539.9 447.9 575.8 199.7 516.7 440.2 546.8 204.7 493.0 426.8 526.5 199.9 474.3 415.6 520.7 198.6 448.9 397.4 487.8 185.6 447.5 386.9 536.9 5 6 7 8 120.5 94.5 46.7 16.4 18.2 30.0 44.4 56.1 55.1 61.9 45.3 9 1674.9 1864.3 1828.3 1876.8 1949.6 1880.5 1827.6 1750.9 1698.6 1630.3 1631.6 10 995.3 1129.6 1108.6 1144.2 1279.6 1200.3 1148.0 1102.2 1074.9 1044.1 1048.1 11 145.1 743.2 106.9 0.0 175.3 817.4 136.9 0.0 160.0 806.5 142.1 0.0 165.3 849.7 129.2 0.0 123.5 974.1 182.0 0.0 100.9 924.5 174.9 0.0 72.8 906.8 167.2 1.2 66.8 856.6 177.5 1.4 59.0 854.3 161.7 0.0 62.1 837.5 144.5 0.0 64.0 858.2 125.9 0.0 12 13 14 15 13.2 666.4 30.7 202.8 432.9 15.0 719.6 21.8 257.7 440.1 16.9 702.8 38.8 312.2 351.8 17.0 715.7 51.1 338.5 326.0 15.5 654.4 31.9 321.4 301.1 15.4 664.8 26.2 313.0 325.6 15.4 664.2 26.3 303.2 334.7 14.6 634.1 30.7 285.0 318.3 13.8 609.9 32.2 279.3 298.4 12.7 573.6 31.3 280.5 261.8 12.6 571.0 31.9 277.3 261.7 16 17 18 19 20 79.0 74.1 85.3 106.0 122.9 111.1 101.8 94.0 90.2 85.4 80.7 21 82 Z.1, June 10, 2010 L.128 Real Estate Investment Trusts (REITs) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2 Checkable deposits and currency 3 Credit market instruments 2004 2005 2006 2007 2008 2009 Q1 Q2 Q3 Q4 2010 Q1 134.9 251.3 305.3 344.0 316.7 253.9 251.9 260.3 266.6 255.3 262.7 1 9.2 12.2 13.6 18.4 16.6 18.4 17.5 22.1 28.0 26.5 25.3 2 96.4 198.7 239.7 265.8 244.7 180.8 180.5 188.3 188.9 182.5 189.5 3 4 5 Agency- and GSE-backed securities Corporate and foreign bonds 28.9 18.9 44.7 36.0 40.6 53.0 65.4 64.6 88.9 34.4 90.5 14.4 95.3 13.7 104.0 15.4 108.5 16.9 105.8 17.5 109.7 19.3 4 5 6 7 8 9 Mortgages Home Multifamily residential Commercial 48.7 37.1 1.5 10.1 118.1 102.9 1.6 13.6 146.1 127.4 1.9 16.8 135.8 103.7 5.0 27.1 121.3 79.2 5.2 37.0 75.9 36.7 3.9 35.3 71.5 33.7 3.7 34.1 68.9 32.8 3.3 32.9 63.5 31.5 2.0 30.0 59.1 27.5 1.9 29.7 60.5 29.1 1.8 29.6 6 7 8 9 10 29.3 40.4 51.9 59.7 55.4 54.7 54.0 49.9 49.8 46.3 47.9 10 11 Total liabilities 314.6 460.8 533.7 571.3 578.7 515.2 497.3 489.1 486.2 473.1 482.6 11 12 Security RPs 41.6 70.3 83.5 97.9 91.7 80.5 83.2 85.5 93.2 95.1 94.3 12 13 Credit market instruments 230.7 340.1 395.5 411.0 421.2 372.6 364.0 352.5 347.8 338.7 343.6 13 0.0 107.1 17.8 105.9 0.0 183.8 24.9 131.4 0.0 216.7 33.3 145.5 0.0 230.6 28.4 152.1 0.0 231.3 33.2 156.7 0.0 176.2 32.9 163.5 0.0 168.3 30.9 164.9 0.0 161.0 24.2 167.3 0.0 159.6 21.3 166.9 0.0 151.1 20.8 166.9 0.0 157.5 18.6 167.4 14 15 16 17 42.3 50.4 54.7 62.4 65.8 62.1 50.1 51.1 45.3 39.3 44.8 18 30.3 0.0 28.9 0.1 1.3 89.9 0.0 86.8 0.1 3.1 107.3 0.0 102.5 0.1 4.7 110.0 0.0 92.7 0.4 17.0 92.1 0.0 72.4 0.4 19.3 50.4 0.0 36.8 0.4 13.2 46.6 0.0 33.5 0.4 12.7 43.9 0.0 32.4 0.4 11.2 42.9 0.0 34.4 0.4 8.1 37.4 0.0 28.2 0.4 8.8 42.5 0.0 31.2 0.4 10.9 19 20 21 22 23 14 15 16 17 18 19 20 21 22 23 Miscellaneous assets Open market paper Corporate bonds Bank loans n.e.c. Mortgages Miscellaneous liabilities Memo: Securitized assets included above Agency- and GSE-backed securities Home mortgages Multifamily residential mortgages Commercial mortgages 83 Z.1, June 10, 2010 L.129 Security Brokers and Dealers Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total financial assets 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 1844.9 2127.1 2741.7 3092.0 2217.2 1925.5 2011.4 2060.6 2084.2 2081.4 1 47.2 62.9 56.5 80.5 105.0 120.1 103.2 92.0 81.9 90.7 90.1 2 Credit market instruments Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Other loans and advances 424.1 49.4 37.8 83.7 24.9 219.3 9.0 394.9 48.0 -44.6 107.3 32.0 238.0 14.2 477.2 60.2 -64.6 101.0 42.9 315.7 22.0 583.4 64.3 -67.0 138.0 50.9 355.5 41.7 803.1 87.1 -60.0 290.2 50.1 382.8 52.8 717.4 65.7 190.6 242.6 38.7 123.8 55.9 594.0 49.9 130.9 222.0 38.7 102.2 50.2 599.2 61.3 155.9 177.2 38.3 120.6 45.9 533.4 49.5 105.7 141.6 41.9 152.3 42.5 525.3 41.5 123.0 110.9 35.4 171.3 43.2 551.2 38.5 131.4 127.5 40.3 169.4 44.2 3 4 5 6 7 8 9 Corporate equities Security credit Miscellaneous assets 100.5 182.5 858.8 129.1 264.0 994.0 158.3 232.4 1202.6 186.4 292.1 1599.4 224.8 325.5 1633.7 109.2 164.8 1105.7 79.6 134.3 1014.4 89.3 147.7 1083.2 108.5 173.8 1163.0 124.2 203.0 1141.0 109.4 196.4 1134.2 10 11 12 1540.1 1777.8 2052.6 2669.1 3025.9 2165.9 1871.5 1935.7 1977.9 2013.5 2010.6 13 490.4 526.9 733.6 1071.8 1147.3 586.9 418.4 481.8 449.0 470.9 432.6 14 47.0 47.0 0.0 62.2 62.2 0.0 62.4 62.4 0.0 68.8 68.8 0.0 64.8 64.8 0.0 142.6 97.1 45.5 102.4 82.0 20.4 102.2 97.1 5.1 104.1 104.0 0.0 92.9 92.9 0.0 92.2 92.2 0.0 15 16 17 28.2 676.3 475.4 200.9 1.8 36.0 774.2 578.3 195.8 2.2 43.1 806.0 575.3 230.7 2.1 48.3 957.8 655.7 302.2 2.8 45.8 1200.9 866.4 334.5 2.2 21.2 963.6 742.7 221.0 2.5 47.8 882.9 666.3 216.6 2.7 54.5 851.4 657.3 194.1 4.5 66.9 893.7 671.7 222.0 6.2 70.1 888.2 668.6 219.6 5.7 62.2 912.2 679.5 232.7 4.4 18 19 20 21 22 296.4 37.4 402.9 -143.9 376.4 49.6 429.4 -102.6 405.5 49.9 544.5 -188.9 519.5 61.0 582.3 -123.8 564.9 69.2 545.2 -49.4 449.2 79.9 619.2 -249.9 417.3 82.6 1214.3 -879.7 441.2 83.9 1191.8 -834.4 457.9 84.0 1130.8 -757.0 485.8 100.2 1077.6 -692.1 507.1 105.0 1155.0 -752.9 23 24 25 26 Checkable deposits and currency 3 4 5 6 7 8 9 13 2005 1613.0 2 10 11 12 2004 Total liabilities 14 Security RPs (net) 15 16 17 Credit market instruments Corporate bonds Bank loans n.e.c. (1) 18 19 20 21 22 Trade payables Security credit Customer credit balances (HH) From banks Taxes payable 23 24 25 26 Miscellaneous liabilities Foreign direct investment in U.S. Due to affiliates Other (1) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF). L.130 Funding Corporations (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 1172.1 1183.6 1341.2 1459.8 1846.7 2854.9 2848.6 2617.6 2491.7 2487.3 2391.2 1 2 3 Money market fund shares Security RPs 488.1 0.0 384.1 0.0 421.1 0.0 463.0 0.0 790.1 0.0 1069.5 0.0 1067.6 0.1 1008.2 0.1 958.8 0.1 923.5 0.1 785.8 0.1 2 3 4 Credit market instruments 190.6 264.7 317.4 362.2 305.2 991.9 978.6 871.7 831.6 813.9 869.0 4 72.0 111.3 7.3 160.9 96.8 7.0 239.3 67.5 10.6 287.8 60.4 14.1 114.4 170.0 20.8 288.7 667.3 35.9 229.2 717.9 31.5 132.4 711.1 28.2 70.7 735.3 25.6 40.5 747.2 26.1 83.6 758.6 26.9 5 6 7 0.0 493.4 134.7 358.7 0.0 534.8 167.7 367.1 0.0 602.8 188.8 414.0 0.0 634.6 197.3 437.3 0.0 751.5 241.0 510.5 0.0 793.5 276.6 516.9 0.0 802.3 269.3 533.0 0.0 737.6 224.5 513.2 0.0 701.2 199.1 502.1 25.1 724.6 200.9 523.7 25.4 710.9 186.9 524.0 8 9 10 11 1172.1 1183.6 1341.2 1459.8 1846.7 2854.9 2848.6 2617.6 2491.7 2487.3 2391.2 12 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Open market paper Corporate and foreign bonds Other loans and advances Corporate equities (2) Miscellaneous assets Investment in foreign banking offices Investment in brokers and dealers Total liabilities Credit market instruments Open market paper Corporate bonds Bank loans n.e.c. (3) Other loans and advances (4) Miscellaneous liabilities Foreign direct investment in U.S. Securities loaned (net) Equity interest under PPIP Other (net) 518.1 515.1 619.9 648.2 786.4 1252.9 1165.7 966.5 835.0 818.8 790.4 13 212.5 305.5 0.0 0.0 197.4 317.7 0.0 0.0 274.5 345.3 0.0 0.0 281.2 367.0 0.0 0.0 368.0 418.5 0.0 0.0 388.0 419.9 444.9 0.0 358.6 443.3 363.7 0.1 306.0 436.7 223.8 0.1 255.5 438.2 141.2 0.1 263.7 457.8 95.3 2.0 228.5 466.9 90.2 4.8 14 15 16 17 654.0 7.6 678.0 0.0 -31.5 668.5 7.8 764.8 0.0 -104.2 721.4 8.4 939.7 0.0 -226.8 811.6 9.0 1242.3 0.0 -439.7 1060.3 9.6 1240.2 0.0 -189.6 1602.1 10.2 887.0 0.0 704.8 1682.9 10.4 802.2 0.0 870.4 1651.1 10.5 843.7 0.0 796.9 1656.7 10.7 889.2 0.0 756.8 1668.5 10.8 856.8 1.8 799.0 1600.8 11.0 839.8 4.2 745.8 18 19 20 21 22 (1) Funding subsidiaries, nonbank financial holding companies, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities, and funds associated with the Public-Private Investment Program (PPIP). (2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. (3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG). (4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP. 84 Z.1, June 10, 2010 L.200 Gold and Official Foreign Exchange Holdings (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 2009 Q1 1 2 3 4 5 6 7 8 9 10 11 Total U.S. reserves U.S. gold stock and SDRs Federal govt.: Exchange Stab. Fund Monetary authority (2) U.S. foreign exchange position Q2 Q3 Q4 2010 Q1 85.9 86.8 65.1 65.9 70.6 77.6 75.0 81.5 134.3 130.8 127.5 1 23.7 24.6 19.3 19.9 20.5 20.4 20.1 20.5 69.0 68.9 67.0 2 12.6 11.0 13.6 11.0 8.2 11.0 8.9 11.0 9.5 11.0 9.3 11.0 9.1 11.0 9.4 11.0 57.9 11.0 57.8 11.0 56.0 11.0 3 4 62.3 62.2 45.9 46.0 50.0 57.3 54.8 61.0 65.3 61.9 60.5 5 Official foreign currency holdings Treasury Monetary authority 39.7 19.9 19.9 42.7 21.4 21.4 37.8 18.9 18.9 40.9 20.5 20.5 45.8 22.5 23.3 49.6 24.8 24.8 46.6 23.0 23.6 48.9 24.3 24.6 51.8 25.9 26.0 50.5 25.2 25.3 48.9 24.4 24.5 6 7 8 Net IMF position Federal government Monetary authority 22.5 22.7 -0.1 19.5 19.6 -0.1 8.0 8.1 -0.1 5.0 5.2 -0.1 4.2 4.4 -0.1 7.7 7.8 -0.1 8.2 8.3 -0.1 12.1 12.2 -0.1 13.5 13.5 -0.0 11.4 11.5 -0.1 11.6 11.7 -0.1 9 10 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; amounts outstanding end of period, not seasonally adjusted SDR certificates: 1 2 Liab: Federal government Asset: Monetary authority 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 1 2 Treasury currency: 3 4 Liab: Federal government Asset: Monetary authority 26.0 35.5 26.7 36.4 27.5 36.5 28.1 38.2 27.4 38.7 26.6 38.7 26.6 42.3 26.5 42.4 26.3 42.6 26.2 42.7 26.2 42.7 3 4 5 Discrepancy (seigniorage) -9.5 -9.7 -9.1 -10.1 -11.3 -12.1 -15.7 -15.9 -16.3 -16.5 -16.5 5 L.202 U.S. Deposits in Foreign Countries Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 5 Total rest of the world liability Held by: Household sector Nonfinancial corporate business Money market mutual funds Discrepancy--unallocated assets 867.1 957.0 997.8 1085.0 1349.1 996.2 927.8 849.4 819.6 793.8 774.1 1 52.1 38.1 71.5 57.5 53.7 78.5 59.9 63.6 94.7 65.2 49.3 84.1 81.0 50.3 127.3 59.8 25.2 129.3 55.7 26.6 79.7 51.0 43.0 93.1 49.2 43.5 103.6 47.7 49.1 97.1 48.1 47.1 92.5 2 3 4 705.3 767.2 779.5 886.3 1090.5 781.8 765.7 662.3 623.3 599.8 586.4 5 85 Z.1, June 10, 2010 L.203 Net Interbank Transactions Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total liabilities 2 3 4 Monetary authority Depository institution reserves Vault cash 5 6 Commercial banking To monetary authority 7 To banks in foreign countries, net 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 190.4 209.8 197.4 186.1 88.6 1900.9 1606.8 1100.3 1268.4 1252.6 1202.5 1 71.0 23.1 48.0 65.6 24.0 41.5 69.1 19.0 50.1 70.4 18.7 51.7 75.8 20.8 55.0 917.7 860.0 57.7 855.5 805.2 50.3 711.7 660.5 51.1 898.8 848.1 50.7 1031.9 977.0 54.9 1105.8 1053.9 51.9 2 3 4 119.3 -0.3 144.2 1.0 128.3 1.0 115.7 -0.3 12.8 48.6 983.1 558.2 751.3 537.7 388.6 325.7 369.6 204.7 220.7 94.5 96.7 9.9 5 6 109.6 118.3 106.0 96.7 -56.9 373.3 155.2 -30.2 98.9 40.0 26.8 7 8 9 10 11 Liabilities, net U.S.-chartered commercial banks Due to foreign affiliates - Due from foreign affiliates 128.5 256.7 433.6 176.9 142.4 317.4 467.4 150.0 117.7 320.9 487.7 166.8 108.7 432.3 586.4 154.2 -38.4 496.2 650.7 154.5 398.0 669.1 782.2 113.1 173.9 551.9 723.6 171.7 -15.4 578.4 724.9 146.4 112.4 653.6 793.9 140.3 54.7 560.5 762.2 201.6 45.9 476.8 763.9 287.1 8 9 10 11 12 13 14 Foreign banking offices in U.S. Due to foreign affiliates - Due from foreign affiliates -95.2 197.4 292.6 -167.4 274.3 441.8 -176.0 333.9 509.9 -255.2 524.5 779.7 -424.0 529.0 953.0 -179.9 536.4 716.3 -250.5 515.5 766.0 -439.0 455.8 894.9 -375.1 540.2 915.3 -350.8 538.7 889.5 -298.0 576.9 874.9 12 13 14 15 16 17 Bank holding companies Due to foreign affiliates - Due from foreign affiliates -33.1 13.2 46.3 -7.5 33.0 40.5 -27.1 42.2 69.4 -68.4 19.7 88.1 -110.6 51.6 162.2 -91.2 143.6 234.8 -127.5 112.5 240.0 -154.8 110.6 265.3 -166.2 128.0 294.1 -155.1 127.9 283.0 -132.8 119.5 252.3 15 16 17 18.9 18.7 0.1 24.1 23.6 0.5 11.7 11.0 0.7 12.0 11.9 0.1 18.6 17.9 0.7 24.7 24.5 0.3 18.7 18.4 0.3 14.9 14.6 0.3 13.5 8.0 5.5 14.6 9.3 5.4 19.1 11.6 7.5 18 19 20 10.0 24.9 21.3 19.3 21.1 51.7 58.3 93.2 66.0 86.1 60.0 21 -55.8 83.3 71.7 1.6 10.0 -22.8 116.9 90.1 1.8 24.9 -22.3 105.6 82.9 1.4 21.3 -58.9 118.5 97.8 1.3 19.3 -24.4 134.9 113.2 0.7 21.1 86.4 118.0 65.8 0.5 51.7 3.9 128.0 54.6 15.1 58.3 22.6 165.1 58.0 14.0 93.2 39.3 148.2 50.4 31.8 66.0 27.9 140.4 43.6 10.6 86.1 -25.6 111.5 40.1 11.4 60.0 22 23 24 25 26 98.1 41.0 122.3 17.4 117.9 10.0 140.0 37.4 133.7 25.7 82.1 -50.4 72.0 52.1 92.9 49.6 78.0 31.0 77.4 35.1 88.8 48.3 27 28 18 19 20 21 22 23 24 25 26 27 28 Less: Deposits at foreign banks U.S. chartered commercial banks Foreign banking offices in U.S. To U.S. banking, net U.S.-chartered commercial banks Liabilities To foreign offices in U.S. To bank holding companies Unallocated Less, due from: Foreign offices in U.S. Bank holding companies 29 30 31 Foreign banking offices in U.S. Due to U.S. banks - Due from U.S. banks 26.4 98.1 71.7 32.2 122.3 90.1 35.0 117.9 82.9 42.2 140.0 97.8 20.5 133.7 113.2 16.2 82.1 65.8 17.4 72.0 54.6 35.0 92.9 58.0 27.5 78.0 50.4 33.7 77.4 43.6 48.7 88.8 40.1 29 30 31 32 33 34 Bank holding companies Due to U.S. banks - Due from U.S. banks 39.4 41.0 1.6 15.5 17.4 1.8 8.6 10.0 1.4 36.0 37.4 1.3 25.0 25.7 0.7 -51.0 -50.4 0.5 37.0 52.1 15.1 35.6 49.6 14.0 -0.9 31.0 31.8 24.5 35.1 10.6 36.9 48.3 11.4 32 33 34 180.3 184.9 176.1 166.8 67.5 1849.2 1548.5 1007.1 1202.4 1166.5 1142.5 35 109.6 118.3 106.0 96.7 -56.9 373.3 155.2 -30.2 98.9 40.0 26.8 36 70.8 66.5 70.1 70.1 124.4 1475.9 1393.3 1037.4 1103.5 1126.4 1115.7 37 35 Total assets 36 Rest of the world 37 Domestic 38 39 40 Monetary authority Federal Reserve float Loans to member banks -0.3 -0.3 0.1 1.0 0.9 0.0 1.0 0.9 0.1 -0.3 -0.3 0.1 48.6 -0.0 48.6 558.2 -1.5 559.7 537.7 -3.1 540.8 325.7 -2.8 328.5 204.7 -2.5 207.2 94.5 -2.1 96.6 9.9 -1.6 11.5 38 39 40 41 42 43 Commercial banking Reserves at Federal Reserve Vault cash 67.6 19.7 48.0 62.3 20.8 41.5 66.4 16.3 50.1 68.4 16.7 51.7 73.2 18.2 55.0 874.1 816.3 57.7 782.0 731.7 50.3 635.5 584.4 51.1 840.8 790.0 50.7 963.6 908.7 54.9 1015.5 963.6 51.9 41 42 43 44 45 Savings insts.: Reserves at Fed. Res. Credit unions: Reserves at Fed. Res. 3.4 0.0 3.3 0.0 2.7 0.0 2.0 0.0 2.6 0.0 39.0 4.7 49.0 24.5 54.0 22.2 42.5 15.6 45.5 22.8 55.3 35.0 44 45 10.0 24.9 21.3 19.3 21.1 51.7 58.3 93.2 66.0 86.1 60.0 46 46 Discrepancy--floats, etc. 86 Z.1, June 10, 2010 L.204 Checkable Deposits and Currency Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 2009 Q1 1 Q3 2010 Q1 Q4 1437.4 1522.8 1527.2 1507.3 1532.9 2101.3 1966.7 2082.3 2060.0 2093.4 2067.8 1 Monetary authority Federal government cash and deposits Due to government-sponsored enterprises Deposits due to foreign Currency outside banks 683.0 6.0 0.6 0.2 676.2 720.8 6.2 1.1 0.1 713.3 750.8 4.8 2.0 0.1 743.9 774.3 5.0 0.8 0.1 768.5 792.1 16.4 1.7 0.1 773.9 1220.3 365.7 21.1 1.4 832.2 1142.8 267.4 20.9 1.2 853.4 1196.6 316.2 20.0 1.8 858.6 1154.4 273.6 15.9 1.9 863.0 1102.7 191.9 35.1 2.4 873.3 1120.4 216.7 19.3 1.7 882.7 2 3 4 5 6 7 8 9 10 Commercial banking Federal government deposits Deposits due to foreign Private domestic deposits 607.2 30.2 4.1 573.0 646.7 26.9 13.2 606.6 610.3 33.9 19.7 556.8 574.4 28.0 28.8 517.6 587.7 42.9 34.1 510.7 729.1 3.5 58.9 666.7 666.6 4.3 49.4 612.9 729.4 4.0 47.2 678.1 735.9 3.7 43.4 688.8 814.0 3.8 44.8 765.5 770.0 4.1 45.7 720.3 7 8 9 10 11 12 Savings institutions Credit unions 80.7 66.5 81.2 74.1 85.0 81.1 85.9 72.6 79.4 73.7 76.6 75.3 76.4 80.8 75.9 80.5 90.5 79.3 89.7 86.9 90.0 87.3 11 12 1437.4 1522.8 1527.2 1507.3 1532.9 2101.3 1966.7 2082.3 2060.0 2093.4 2067.8 13 2 3 4 5 6 13 Total liabilities Q2 Total assets 14 Household sector 398.4 344.1 216.9 173.1 90.3 263.0 241.9 280.5 246.4 279.3 195.9 14 15 16 17 18 Nonfinancial business Corporate Nonfarm noncorporate Farm 385.8 191.7 172.9 21.2 495.6 194.2 279.2 22.3 646.2 267.8 355.5 22.9 604.5 150.9 428.6 25.0 662.9 141.9 494.3 26.8 595.7 52.1 515.9 27.7 611.9 75.5 508.6 27.8 654.0 126.6 499.5 27.8 704.2 187.7 488.6 27.9 754.8 247.8 479.1 27.9 813.5 316.3 469.3 27.9 15 16 17 18 19 20 State and local governments Federal government 53.8 54.1 47.0 21.9 56.5 36.8 61.9 32.9 57.1 56.5 65.6 368.0 60.6 271.9 85.3 319.1 71.3 274.8 85.0 193.6 81.2 219.5 19 20 21 22 23 Rest of the world Checkable deposits Currency 262.9 4.2 258.7 285.3 13.3 272.0 300.1 19.7 280.4 311.6 28.9 282.6 306.1 34.2 272.0 361.5 60.3 301.1 363.5 50.6 313.0 360.0 49.0 311.0 360.5 45.3 315.2 361.0 47.2 313.8 363.4 47.3 316.0 21 22 23 24 Financial sectors 284.9 312.0 261.5 315.8 350.0 441.1 412.1 377.5 396.5 413.5 389.7 24 25 26 27 Commercial banking Savings institutions Credit unions 2.5 24.8 41.5 3.5 21.3 40.2 3.0 23.7 38.1 2.9 20.4 44.4 2.6 20.0 43.3 3.2 8.7 37.6 4.3 10.2 36.9 3.3 6.3 32.3 2.8 7.9 37.3 4.2 4.5 39.1 3.9 0.8 37.1 25 26 27 28 29 30 31 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds 34.6 47.3 10.4 13.7 25.9 53.3 10.5 16.3 21.0 47.7 10.8 15.8 29.9 56.1 11.2 13.1 42.7 58.3 11.8 17.9 27.9 82.8 12.3 17.8 26.0 70.3 12.3 17.6 33.9 65.7 11.9 17.7 33.6 64.1 14.4 17.7 27.6 52.5 16.4 17.6 27.5 48.8 18.8 17.6 28 29 30 31 32 33 34 35 36 Money market mutual funds Government-sponsored enterprises Finance companies REITs Brokers and dealers -2.1 28.8 27.1 9.2 47.2 0.6 39.1 26.3 12.2 62.9 -0.9 14.6 17.4 13.6 56.5 6.7 16.4 15.8 18.4 80.5 1.9 13.7 16.2 16.6 105.0 7.5 88.3 16.5 18.4 120.1 12.7 84.1 17.1 17.5 103.2 -6.3 81.0 17.5 22.1 92.0 4.2 87.5 17.1 28.0 81.9 17.9 99.4 17.0 26.5 90.7 5.1 99.0 15.9 25.3 90.1 32 33 34 35 36 -2.4 16.9 9.2 7.5 10.0 6.4 4.7 6.0 6.3 6.3 4.7 37 37 Mail float 87 Z.1, June 10, 2010 L.205 Time and Savings Deposits Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 2009 Q1 1 2 Total liabilities Small time and savings deposits Q2 Q3 Q4 2010 Q1 5228.9 5788.8 6387.6 6995.8 7606.7 7940.9 8073.2 8088.0 8156.3 8316.3 8341.7 1 4002.1 4283.7 4598.1 4945.1 5224.5 5749.3 5918.7 5937.0 6131.1 6326.5 6459.3 2 2978.2 2950.5 10.2 17.5 3258.7 3230.2 9.5 19.0 3527.1 3493.1 10.0 23.9 3814.7 3770.9 18.6 25.2 4077.7 4025.9 25.5 26.3 4619.1 4566.2 25.6 27.4 4753.6 4701.5 26.2 25.9 4777.9 4728.5 24.1 25.3 4862.7 4810.6 27.0 25.1 5003.5 4949.1 29.9 24.5 5113.5 5056.4 32.9 24.3 3 4 5 6 3 4 5 6 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Banks in U.S.-affiliated areas 7 8 Savings institutions Credit unions 599.0 424.9 584.5 440.4 618.5 452.5 647.5 483.0 638.1 508.7 578.5 551.7 582.9 582.2 568.2 590.9 678.0 590.5 667.9 655.1 674.7 671.0 7 8 9 Large time deposits (1) 1226.8 1505.1 1789.5 2050.8 2382.2 2191.6 2154.5 2151.0 2025.2 1989.8 1882.5 9 10 11 12 13 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Banks in U.S.-affiliated areas 928.1 555.7 354.9 17.5 1120.6 671.3 430.3 19.0 1363.7 838.1 501.7 23.9 1627.7 968.0 634.5 25.2 1925.3 991.1 907.9 26.3 1827.7 1015.6 784.7 27.4 1763.7 976.3 761.5 25.9 1770.0 915.6 829.2 25.3 1784.9 865.8 893.9 25.1 1824.8 841.7 958.6 24.5 1713.5 787.8 901.4 24.3 10 11 12 13 14 15 Savings institutions Credit unions 245.1 53.6 324.5 60.0 363.3 62.5 358.0 65.0 387.1 69.9 293.5 70.4 312.6 78.3 300.2 80.8 155.2 85.1 137.7 27.3 140.8 28.2 14 15 5228.9 5788.8 6387.6 6995.8 7606.7 7940.9 8073.2 8088.0 8156.3 8316.3 8341.7 16 3937.9 4426.8 4913.9 5400.4 5888.5 6068.0 6073.7 6013.1 6000.0 6115.4 6205.9 17 16 Total assets 17 Household sector 18 19 20 Nonfinancial business Corporate Nonfarm noncorporate 676.6 362.8 313.8 701.1 400.5 300.6 774.5 450.4 324.1 841.4 497.0 344.4 800.7 441.3 359.3 775.0 387.0 388.0 784.9 402.2 382.7 789.2 413.2 376.1 900.4 532.2 368.2 916.6 555.4 361.2 920.1 566.0 354.1 18 19 20 21 22 23 State and local governments Federal government Rest of the world 159.0 2.4 115.0 170.6 2.4 149.2 183.3 1.4 155.9 209.6 1.7 167.4 245.9 2.8 207.6 265.1 1.6 252.8 278.2 1.7 247.4 267.4 1.6 240.5 273.0 1.9 228.6 275.9 1.9 230.0 281.8 2.0 219.4 21 22 23 24 Financial sectors 338.0 338.8 358.7 375.5 461.1 578.4 687.3 776.1 752.3 776.4 712.5 24 25 26 Savings institutions Credit unions 2.6 27.1 3.2 26.4 2.7 21.9 6.6 17.0 9.9 17.0 8.3 28.3 10.3 34.0 10.2 35.7 17.6 36.5 15.3 37.8 19.1 45.4 25 26 27 28 Private pension funds State and local govt. retirement funds 60.7 0.8 55.9 1.4 62.2 1.3 63.1 0.8 67.7 0.7 67.9 0.7 69.6 0.7 69.3 0.7 71.3 0.7 72.7 0.7 73.7 0.7 27 28 29 30 31 Money market mutual funds Government-sponsored enterprises Finance companies 166.8 16.7 63.2 167.2 23.3 61.3 183.0 35.3 52.2 206.7 33.9 47.4 270.6 46.6 48.6 355.2 68.5 49.4 458.1 63.4 51.2 541.1 66.6 52.5 544.6 30.2 51.3 573.2 25.7 51.0 504.6 21.2 47.6 29 30 31 (1) Large time deposits are those issued in amounts of $100,000 or more. L.206 Money Market Mutual Fund Shares Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 5 6 7 8 9 10 11 Total assets 2016.4 1879.8 2006.9 2312.1 3033.1 3757.3 3738.7 3584.2 3363.0 3258.6 2930.7 1 Household sector Nonfinancial corporate business Nonfarm noncorporate business State and local governments Rest of the world 960.2 298.3 63.6 62.7 18.8 904.1 308.6 66.5 66.6 22.9 949.2 348.2 69.0 71.7 23.0 1114.5 416.3 72.2 78.5 27.0 1346.7 544.4 74.3 83.5 46.0 1581.9 702.6 78.7 84.2 58.3 1555.4 707.4 77.6 87.5 57.3 1483.9 692.2 76.2 87.0 56.3 1358.7 650.3 74.6 89.0 55.3 1313.3 630.8 73.2 90.3 54.3 1201.8 563.3 71.7 91.3 53.3 2 3 4 5 6 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Funding corporations 14.3 12.6 84.3 13.4 488.1 13.4 17.2 84.9 11.6 384.1 12.8 13.5 86.7 11.7 421.1 13.5 23.3 90.1 13.8 463.0 20.7 21.6 93.5 12.4 790.1 32.8 39.2 95.7 14.3 1069.5 32.8 42.8 96.1 14.2 1067.6 28.7 41.1 96.2 14.3 1008.2 27.9 37.9 96.3 14.3 958.8 29.1 33.7 96.4 14.2 923.5 23.9 29.2 96.4 14.2 785.8 7 8 9 10 11 88 Z.1, June 10, 2010 L.207 Federal Funds and Security Repurchase Agreements Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 6 7 8 9 10 11 Total liabilities 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 1345.4 1428.5 1744.5 2147.9 2156.5 1261.1 1059.5 1273.1 1336.1 1464.2 1499.4 1 Monetary authority Commercial banking (net) U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies 25.7 714.3 554.5 157.7 2.1 30.8 727.4 569.1 157.5 0.8 30.5 817.7 626.1 190.9 0.6 29.6 888.2 647.5 239.9 0.8 44.0 838.5 611.4 226.3 0.8 88.4 482.8 352.4 130.0 0.4 70.6 468.7 362.2 134.3 -27.8 72.7 622.1 483.3 172.4 -33.6 68.9 655.4 515.8 178.5 -38.9 77.7 766.6 644.0 170.3 -47.7 57.8 860.4 716.6 195.3 -51.5 2 3 4 5 6 Savings institutions Life insurance companies (net) REITs Brokers and dealers (net) 60.9 12.5 41.6 490.4 63.3 9.9 70.3 526.9 61.0 18.3 83.5 733.6 41.8 18.7 97.9 1071.8 17.6 17.4 91.7 1147.3 17.6 4.9 80.5 586.9 19.4 -0.8 83.2 418.4 10.9 0.2 85.5 481.8 70.3 -0.8 93.2 449.0 53.6 0.2 95.1 470.9 53.9 0.4 94.3 432.6 7 8 9 10 1114.5 1330.8 1543.3 1955.4 2307.5 1710.4 1718.2 1578.3 1632.2 1597.5 1656.4 11 Total assets 12 13 14 Nonfinancial corporate business State and local governments Rest of the world 6.0 123.5 460.2 6.4 131.2 665.1 14.6 141.2 713.3 15.5 154.6 1029.0 8.1 164.3 1109.1 7.5 165.8 584.4 7.8 169.9 626.9 8.3 171.2 621.8 9.5 175.3 614.9 9.9 177.7 582.8 9.8 179.8 629.5 12 13 14 15 16 17 18 Financial sectors Monetary authority Savings institutions Credit unions (net) 524.9 43.8 12.3 1.6 528.1 33.0 9.1 4.1 674.2 46.8 9.0 6.7 756.3 40.8 18.3 5.1 1026.0 46.5 45.6 2.5 952.7 80.0 34.7 -2.3 913.6 0.0 29.5 -0.5 777.0 0.0 10.3 0.1 832.4 0.0 19.2 0.1 827.1 0.0 12.0 0.1 837.2 0.0 9.5 0.1 15 16 17 18 19 20 21 22 23 24 25 Property-casualty insurance companies Private pension funds State and local govt. retirement funds Money market mutual funds Mutual funds Government-sponsored enterprises (net) Funding corporations 1.1 20.3 23.4 252.6 94.5 75.3 0.0 0.9 20.6 20.2 234.0 112.6 93.6 0.0 1.4 21.6 19.7 346.0 115.4 107.7 0.0 0.7 22.4 24.1 394.6 132.8 117.4 0.0 3.1 25.8 21.7 605.9 132.2 142.7 0.0 2.0 33.1 23.5 542.4 124.7 114.5 0.0 0.0 36.8 23.3 561.5 103.6 159.4 0.1 0.0 37.8 23.4 481.6 121.6 102.2 0.1 0.0 42.0 23.4 495.0 136.4 116.3 0.1 0.0 36.2 23.3 479.9 153.3 122.1 0.1 0.0 36.3 23.2 440.1 151.5 176.4 0.1 19 20 21 22 23 24 25 230.9 97.7 201.3 192.5 -151.0 -449.4 -658.7 -305.2 -296.1 -133.4 -157.0 26 26 Discrepancy--unallocated assets L.208 Open Market Paper Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 1292.9 1399.1 1644.2 1958.0 1788.6 1599.3 1423.9 1278.8 1169.3 1138.0 1082.7 1 1288.6 1395.0 1640.1 1957.5 1788.1 1599.3 1423.9 1278.8 1169.3 1138.0 1082.7 2 Nonfinancial corporate business Foreign issues in U.S. Nonfinancial Financial 82.5 276.1 15.5 260.6 97.8 345.3 13.3 332.0 90.1 384.0 29.0 355.0 112.5 482.3 27.0 455.3 123.8 413.0 29.0 384.0 131.5 342.0 49.7 292.3 106.9 344.8 42.8 302.0 86.2 345.7 44.3 301.4 73.0 396.6 36.0 360.7 59.1 399.8 34.5 365.3 74.6 384.7 34.8 349.9 3 4 5 6 7 8 9 10 11 12 Financial business Commercial banking ABS issuers Finance companies REITs Funding corporations 930.0 42.3 530.0 145.1 0.0 212.5 951.9 53.1 526.1 175.3 0.0 197.4 1166.1 57.1 674.4 160.0 0.0 274.5 1362.7 78.8 837.4 165.3 0.0 281.2 1251.3 116.7 643.1 123.5 0.0 368.0 1125.8 77.7 559.3 100.9 0.0 388.0 972.2 56.1 484.7 72.8 0.0 358.6 846.9 51.9 422.4 66.8 0.0 306.0 699.6 55.6 329.6 59.0 0.0 255.5 679.1 60.8 292.5 62.1 0.0 263.7 623.5 206.5 124.5 64.0 0.0 228.5 7 8 9 10 11 12 13 Bankers acceptances (1) 4.4 4.1 4.1 0.5 0.5 0.0 0.0 0.0 0.0 0.0 0.0 13 2 3 4 5 6 14 Total outstanding, all types Commercial paper 1292.9 1399.1 1644.2 1958.0 1788.6 1599.3 1423.9 1278.8 1169.3 1138.0 1082.7 14 15 16 17 18 19 20 21 22 Holdings, by sector Household sector Nonfinancial corporate business State and local governments Rest of the world Monetary authority Commercial banking (1) Savings institutions Credit unions 77.3 75.7 161.6 192.8 0.0 0.0 0.0 0.7 83.7 95.0 171.7 229.8 0.0 0.0 0.0 0.8 98.4 111.0 184.8 239.6 0.0 0.0 0.0 0.8 117.5 122.7 202.4 287.6 0.0 0.0 0.0 1.0 107.3 69.5 195.2 278.1 0.0 0.0 0.0 0.4 6.0 60.1 132.8 232.9 0.0 15.7 0.0 0.0 5.6 40.6 124.6 219.7 0.0 4.5 0.0 0.0 5.1 47.0 111.5 199.9 0.0 9.8 0.0 0.0 4.9 40.1 97.0 195.9 0.0 0.1 0.0 0.0 4.6 48.1 87.2 190.0 0.0 0.0 0.0 0.0 4.6 43.2 82.4 192.5 0.0 0.0 0.0 0.0 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Money market mutual funds Mutual funds Government-sponsored enterprises Brokers and dealers Funding corporations 13.7 37.9 27.5 41.6 459.9 76.2 6.7 49.4 72.0 12.3 27.4 28.5 35.2 405.8 94.2 5.8 48.0 160.9 15.8 24.4 31.5 35.2 492.2 97.1 13.8 60.2 239.3 16.4 28.7 31.7 42.8 608.3 114.5 32.4 64.3 287.8 13.3 41.7 26.9 38.4 674.6 114.1 27.7 87.1 114.4 19.1 38.3 37.2 25.9 618.5 51.6 6.8 65.7 288.7 19.1 45.7 37.6 25.7 578.7 31.8 11.2 49.9 229.2 16.8 49.8 38.1 23.9 522.1 49.3 12.0 61.3 132.4 16.3 52.4 31.5 23.9 513.6 63.9 9.7 49.5 70.7 17.0 59.0 26.7 22.8 510.7 80.2 9.7 41.5 40.5 13.9 45.8 21.7 20.7 448.5 78.7 8.6 38.5 83.6 23 24 25 26 27 28 29 30 31 (1) Excludes banks’ holdings of own acceptances. 89 Z.1, June 10, 2010 L.209 Treasury Securities Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 4008.2 4370.7 4678.0 4861.7 5099.2 6338.2 6804.4 7143.1 7520.8 7781.9 8259.6 1 203.8 3804.4 204.4 4166.3 205.1 4472.9 202.4 4659.4 196.4 4902.8 194.0 6144.2 193.9 6610.5 193.5 6949.6 192.4 7328.4 191.2 7590.7 190.2 8069.4 2 3 4008.2 4370.7 4678.0 4861.7 5099.2 6338.2 6804.4 7143.1 7520.8 7781.9 8259.6 4 Household sector Savings bonds Other Treasury issues 408.0 203.8 204.2 492.6 204.4 288.2 464.3 205.1 259.2 394.1 202.4 191.7 266.6 196.4 70.2 277.8 194.0 83.8 544.2 193.9 350.4 540.6 193.5 347.1 649.7 192.4 457.3 648.3 191.2 457.1 795.7 190.2 605.5 5 6 7 8 9 10 Nonfinancial corporate business Nonfarm noncorporate business State and local governments 33.7 44.9 364.2 34.0 50.2 389.1 52.1 56.2 481.4 45.5 56.3 516.9 38.3 59.3 531.5 30.8 62.8 491.9 40.6 62.0 504.1 46.1 60.9 517.8 46.4 59.6 525.0 48.2 58.4 541.3 50.1 57.2 534.7 8 9 10 11 12 Rest of the world Monetary authority 1513.5 666.7 1813.6 717.8 1984.4 744.2 2126.2 778.9 2376.4 740.6 3210.6 475.9 3382.7 492.3 3483.6 656.5 3598.4 769.2 3738.4 776.6 3935.9 776.7 11 12 13 14 15 16 17 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 132.1 93.5 33.4 2.7 2.5 107.8 74.2 27.7 2.0 3.8 97.0 64.2 27.8 1.1 3.9 94.9 61.9 26.8 2.5 3.7 112.3 73.0 30.4 7.1 1.8 93.2 53.4 35.5 3.1 1.2 117.1 71.0 44.7 0.6 0.8 123.7 82.7 33.2 7.0 0.8 180.3 119.0 56.4 4.2 0.7 185.4 117.7 61.4 5.8 0.5 252.2 181.6 63.9 5.8 0.9 13 14 15 16 17 18 19 Savings institutions Credit unions 12.2 8.8 8.4 8.9 12.3 7.7 12.5 7.4 7.0 10.4 3.0 8.8 3.6 8.3 4.6 12.4 6.0 13.0 6.8 14.2 7.1 14.3 18 19 20 21 22 23 24 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 86.2 80.2 116.9 148.6 55.3 106.6 81.9 113.0 151.0 60.7 106.9 95.4 116.5 153.8 68.4 110.0 87.9 130.8 156.2 76.7 71.3 70.6 169.5 141.6 88.0 65.6 105.7 184.9 146.4 112.3 69.5 141.1 214.3 150.2 116.7 72.6 148.5 236.5 159.9 116.9 76.9 167.8 280.7 167.3 117.4 82.2 176.3 310.7 174.5 119.1 81.2 179.4 341.6 181.6 120.6 20 21 22 23 24 25 26 27 28 29 30 31 Money market mutual funds Mutual funds Closed-end funds Exchange-traded funds Government-sponsored enterprises ABS issuers Brokers and dealers 132.1 144.2 4.6 2.1 13.5 2.8 37.8 98.2 149.0 6.8 4.9 12.9 8.0 -44.6 88.6 155.7 7.1 9.7 13.1 27.7 -64.6 82.7 160.7 7.4 13.1 14.2 56.4 -67.0 178.1 179.2 5.6 19.7 15.5 77.5 -60.0 577.7 187.9 3.2 27.0 16.8 65.1 190.6 519.7 193.0 3.3 31.6 17.6 61.4 130.9 489.1 202.2 3.7 35.6 19.3 56.6 155.9 426.4 214.6 3.9 38.6 21.5 52.4 105.7 406.4 255.5 4.4 41.7 21.9 48.7 123.0 374.7 268.9 5.0 46.3 60.1 44.7 131.4 25 26 27 28 29 30 31 4033.1 4395.0 4701.9 4885.3 5122.3 6361.5 6826.9 7165.3 7544.0 7805.4 8283.2 32 2 3 4 5 6 7 Total liabilities 2004 Savings bonds Other Treasury issues Total assets Memo: 32 Federal government debt (1) (1) Total Treasury securities (table L.209, line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 12). 90 Z.1, June 10, 2010 L.210 Agency- and GSE-backed Securities (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 Total liabilities Budget agencies Government-sponsored enterprises Agency- and GSE-backed mortgage pools 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 5969.4 6084.5 6164.5 6492.4 7397.7 8166.7 8182.8 8141.1 8121.3 8106.5 7775.4 1 24.9 2601.3 3343.3 24.3 2676.3 3384.0 23.8 2592.2 3548.5 23.5 2627.8 3841.1 23.1 2910.2 4464.4 23.3 3181.9 4961.4 22.5 3118.3 5042.0 22.3 2948.1 5170.7 23.2 2800.5 5297.5 23.5 2706.6 5376.4 23.6 6703.8 1048.0 2 3 4 5969.4 6084.5 6164.5 6492.4 7397.7 8166.7 8182.8 8141.1 8121.3 8106.5 7775.4 5 Household sector Nonfinancial corporate business State and local governments 383.7 11.2 351.2 400.3 11.3 373.2 496.2 17.4 401.6 411.9 15.2 439.9 687.6 12.8 454.6 705.1 10.3 434.2 484.6 6.9 425.9 177.3 12.0 412.8 166.3 12.1 398.7 6.8 12.7 382.2 94.3 13.4 365.6 6 7 8 9 10 11 Federal government Rest of the world Monetary authority 0.0 655.3 0.0 0.0 875.2 0.0 0.0 1012.9 0.0 0.0 1262.3 0.0 0.0 1582.4 0.0 54.4 1445.2 19.7 111.4 1386.2 287.0 164.7 1379.8 559.1 195.6 1331.0 823.5 225.5 1307.3 1068.3 225.5 1282.4 1237.7 9 10 11 12 13 14 15 16 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 1000.3 906.4 53.3 11.6 28.9 1095.1 996.1 51.8 13.5 33.6 1089.6 992.7 50.9 11.2 34.8 1135.6 1040.3 55.1 11.2 29.0 1022.3 928.9 57.1 9.9 26.3 1169.4 1068.7 50.5 25.8 24.4 1175.4 1085.4 45.6 21.6 22.8 1221.3 1136.8 38.7 22.4 23.5 1185.8 1106.5 35.2 22.3 21.8 1276.9 1200.0 32.1 24.3 20.5 1270.9 1197.6 32.4 22.6 18.4 12 13 14 15 16 17 18 Savings institutions Credit unions 198.8 94.3 136.4 93.1 192.3 86.4 177.0 72.5 177.4 68.4 173.8 82.9 175.9 91.9 187.6 100.7 197.4 105.2 201.6 110.8 209.9 124.3 17 18 19 20 21 22 23 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 115.4 348.9 223.5 235.1 5.1 112.1 357.1 235.3 258.8 4.6 117.9 368.5 252.0 258.4 4.6 122.0 377.4 268.6 307.8 4.7 125.8 382.9 296.8 331.1 5.0 114.3 366.2 318.1 337.5 5.1 113.8 358.8 310.6 329.7 5.0 114.5 359.8 294.4 319.0 5.0 115.2 356.8 278.8 309.5 5.4 116.2 355.9 269.1 299.9 5.6 117.3 362.3 262.0 290.8 5.8 19 20 21 22 23 24 25 26 Money market mutual funds Mutual funds Government-sponsored enterprises 328.6 447.5 1088.9 267.5 462.7 886.5 160.1 483.4 751.1 131.4 499.1 714.0 235.9 565.4 702.9 756.2 592.7 910.0 776.3 588.1 954.0 733.2 616.9 949.0 635.2 635.1 919.4 543.0 639.1 924.5 465.1 681.0 417.0 24 25 26 27 28 29 ABS issuers REITs Brokers and dealers 369.0 28.9 83.7 363.4 44.7 107.3 330.5 40.6 101.0 349.7 65.4 138.0 367.5 88.9 290.2 338.6 90.5 242.6 284.2 95.3 222.0 252.6 104.0 177.2 200.1 108.5 141.6 144.3 105.8 110.9 113.0 109.7 127.5 27 28 29 6 7 8 Total assets 2004 (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. 91 Z.1, June 10, 2010 L.211 Municipal Securities and Loans Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 2009 Q1 1 2 3 4 5 6 7 Total liabilities State and local governments Short-term (1) Long-term Nonprofit organizations (2) Nonfinancial corporate business (industrial revenue bonds) Total assets Q2 Q3 Q4 2010 Q1 1900.4 2030.9 2225.9 2403.3 2618.9 2676.0 2708.1 2743.7 2764.8 2803.7 2834.3 1 1558.8 106.1 1452.7 177.7 163.9 1672.6 100.2 1572.4 189.1 169.2 1843.9 105.9 1738.0 205.2 176.8 1997.0 102.8 1894.2 224.1 182.2 2187.4 120.1 2067.3 241.2 190.3 2233.8 132.1 2101.7 249.3 192.9 2263.1 132.8 2130.4 251.6 193.3 2290.8 121.7 2169.1 258.1 194.9 2307.1 134.8 2172.3 260.9 196.8 2341.2 134.9 2206.3 264.4 198.1 2369.8 134.1 2235.7 266.1 198.4 2 3 4 5 6 1900.4 2030.9 2225.9 2403.3 2618.9 2676.0 2708.1 2743.7 2764.8 2803.7 2834.3 7 8 9 10 11 12 Household sector Nonfinancial corporate business Nonfarm noncorporate business State and local governments Rest of the world 703.7 35.4 2.7 4.4 19.5 742.4 31.8 4.3 4.7 26.0 820.9 32.1 4.4 5.0 29.0 872.0 28.1 5.8 5.5 34.4 896.0 29.2 5.3 5.8 45.1 907.2 26.6 5.6 5.9 41.0 937.7 23.2 5.5 5.8 40.0 960.7 22.7 5.4 6.1 45.6 971.2 24.4 5.3 6.2 53.5 998.9 27.1 5.2 6.3 60.6 1020.1 26.7 5.1 6.4 71.9 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Commercial banking Savings institutions Property-casualty insurance companies Life insurance companies State and local govt. retirement funds Money market mutual funds Mutual funds Closed-end funds Exchange-traded funds Government-sponsored enterprises Brokers and dealers 132.7 6.6 224.2 26.1 4.4 292.1 290.2 89.3 0.0 44.4 24.9 140.8 7.4 267.8 30.1 1.8 313.8 294.3 89.1 0.0 44.6 32.0 157.7 9.0 313.2 32.5 1.7 336.8 311.7 89.4 0.0 39.7 42.9 180.2 11.2 335.2 36.6 3.3 370.3 344.4 89.4 0.0 36.1 50.9 192.9 11.0 371.3 41.4 2.4 471.0 372.2 91.3 0.6 33.3 50.1 216.7 7.8 381.9 47.1 1.4 494.6 389.6 78.5 2.3 31.3 38.7 214.8 8.6 375.7 53.4 1.4 482.7 406.8 79.7 3.1 30.9 38.7 219.7 8.7 373.6 59.6 1.4 455.8 430.7 81.0 4.0 30.4 38.3 218.0 9.2 371.0 66.3 1.5 420.6 459.0 81.9 5.1 29.7 41.9 218.6 9.2 369.4 73.3 1.5 401.3 480.2 81.8 5.9 29.1 35.4 219.3 9.6 372.8 74.7 1.5 368.7 500.7 82.0 6.5 28.0 40.3 13 14 15 16 17 18 19 20 21 22 23 (1) Debt with original maturity of 13 months or less. (2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100). L.212 Corporate and Foreign Bonds Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 5 6 7 8 9 10 11 12 Total liabilities 7048.3 7922.9 8694.6 9982.2 11426.1 11158.8 11592.1 11593.5 11599.4 11482.1 11441.9 1 Nonfinancial corporate business Rest of the world (1) 2900.1 868.9 2975.5 985.0 3032.2 1011.6 3247.8 1275.5 3558.9 1587.1 3763.5 1392.9 3908.3 1427.3 4007.4 1482.1 4075.0 1502.9 4145.0 1545.8 4248.2 1580.7 2 3 Financial sectors Commercial banking Savings institutions ABS issuers (net) (3) Finance companies REITs Brokers and dealers Funding corporations 3279.2 378.4 5.1 1692.9 743.2 107.1 47.0 305.5 3962.4 437.4 7.6 2136.1 817.4 183.8 62.2 317.7 4650.9 494.1 8.7 2717.3 806.5 216.7 62.4 345.3 5458.9 570.1 10.7 3362.1 849.7 230.6 68.8 367.0 6280.1 688.7 10.4 3892.2 974.1 231.3 64.8 418.5 6002.4 818.0 2.4 3564.3 924.5 176.2 97.1 419.9 6256.5 1211.0 2.0 3443.1 906.8 168.3 82.0 443.3 6104.0 1216.4 2.2 3333.9 856.6 161.0 97.1 436.7 6021.5 1225.4 2.3 3237.8 854.3 159.6 104.0 438.2 5791.3 1162.5 2.3 3087.3 837.5 151.1 92.9 457.8 5612.9 1359.7 3.2 2675.2 858.2 157.5 92.2 466.9 4 5 6 7 8 9 10 11 7048.3 7922.9 8694.6 9982.2 11426.1 11158.8 11592.1 11593.5 11599.4 11482.1 11441.9 12 Total assets 13 14 15 16 Household sector State and local governments Federal government Rest of the world (2) 1026.3 111.3 0.0 1330.0 1141.7 118.2 0.0 1558.9 1299.5 127.2 0.0 1762.9 1552.8 139.4 0.0 2320.8 2005.4 148.1 0.0 2719.1 1988.6 149.5 0.0 2456.7 2351.7 153.9 0.0 2445.0 2289.3 149.3 0.4 2417.5 2232.5 158.0 0.5 2379.4 2197.9 160.2 0.6 2348.4 2139.8 162.1 0.6 2325.1 13 14 15 16 17 18 19 20 21 22 23 24 Commercial banking Savings institutions Credit unions Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 481.2 71.9 24.3 218.9 1610.5 275.3 207.4 3.2 563.6 59.2 25.0 245.3 1756.3 267.8 213.5 3.0 687.0 80.2 23.5 262.8 1824.8 290.0 227.9 2.9 780.3 92.7 30.6 277.0 1819.5 317.6 283.4 2.9 978.2 142.2 34.6 282.9 1862.6 357.4 297.0 3.0 979.9 108.5 25.7 267.5 1817.0 400.1 312.9 2.9 957.4 112.8 17.6 272.5 1847.7 413.9 310.5 2.8 939.0 108.6 18.0 280.7 1866.5 424.1 310.2 2.8 949.4 105.8 17.9 289.0 1892.1 434.0 307.7 3.0 867.7 85.1 18.6 298.3 1917.2 442.9 310.1 3.0 786.1 81.7 18.5 301.1 1951.3 452.4 313.3 3.0 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 Money market mutual funds Mutual funds Closed-end funds Exchange-traded funds Government-sponsored enterprises Finance companies REITs Brokers and dealers Funding corporations 258.7 532.0 58.8 2.4 222.8 263.8 18.9 219.3 111.3 261.0 596.8 67.6 3.3 414.8 256.0 36.0 238.0 96.8 263.2 662.7 69.3 5.3 465.7 203.5 53.0 315.7 67.5 368.3 767.0 75.1 7.6 481.7 184.8 64.6 355.5 60.4 376.8 889.9 74.0 13.8 464.4 189.4 34.4 382.8 170.0 228.0 959.9 49.5 27.7 386.6 192.4 14.4 123.8 667.3 217.8 1004.8 48.5 34.3 367.4 199.7 13.7 102.2 717.9 217.9 1040.9 51.2 41.0 384.3 204.7 15.4 120.6 711.1 168.1 1071.2 53.5 47.8 385.1 199.9 16.9 152.3 735.3 169.9 1106.1 55.3 55.3 310.8 198.6 17.5 171.3 747.2 175.6 1156.5 56.9 60.4 324.8 185.6 19.3 169.4 758.6 25 26 27 28 29 30 31 32 33 (1) Holdings of foreign issues by U.S. residents. (2) Holdings of U.S. issues by foreign residents. (3) Liabilities net of assets. 92 Z.1, June 10, 2010 L.213 Corporate Equities (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 2009 Q1 1 Issues at market value 2 Nonfinancial corporate business 3 4 Rest of the world (2) Financial corporations 5 Q3 Q4 2010 Q1 16450.7 18940.1 20636.1 24339.3 25576.5 15780.8 13901.3 16486.6 19399.6 20227.6 21242.1 1 10845.2 12088.6 12686.6 14602.3 15725.9 10036.4 8975.2 10298.4 11834.2 12464.9 13100.1 2 1891.6 3713.9 2560.4 4291.1 3317.7 4631.9 4329.0 5408.0 5248.0 4602.6 2851.4 2893.0 2553.3 2372.8 3265.5 2922.7 3939.0 3626.3 4095.1 3667.6 4157.3 3984.8 3 4 16450.7 18940.1 20636.1 24339.3 25576.5 15780.8 13901.3 16486.6 19399.6 20227.6 21242.1 5 Household sector State and local governments Federal government Rest of the world (3) 6749.9 84.7 0.0 1524.4 7483.9 90.0 0.0 1904.6 8093.0 96.8 0.0 2039.1 9643.7 106.0 0.0 2448.1 9626.4 112.7 0.0 2812.2 5913.5 80.7 188.7 1777.3 5157.0 75.5 223.9 1573.6 6158.3 88.7 157.6 1927.1 7291.2 103.2 158.8 2291.5 7463.9 108.4 67.4 2464.8 7793.3 117.2 67.3 2628.3 6 7 8 9 10 11 12 13 14 15 16 17 Monetary authority Commercial banking Savings institutions Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 0.0 15.0 30.4 178.4 919.3 2096.6 1421.0 79.9 0.0 20.3 28.2 196.6 1053.9 2338.5 1600.9 99.2 0.0 24.1 26.2 199.5 1161.8 2441.7 1715.8 112.6 0.0 35.3 24.9 227.0 1364.8 2724.8 1926.1 138.1 0.0 41.5 25.3 236.2 1464.6 2673.3 2013.7 149.1 0.0 6.7 22.7 193.3 1001.7 1599.7 1237.9 85.6 0.0 4.5 21.6 164.6 886.5 1382.7 1107.2 74.7 0.0 10.5 24.1 187.6 1029.5 1566.3 1286.2 92.5 0.0 20.5 24.6 219.9 1192.3 1770.8 1492.5 110.4 25.1 30.3 22.2 219.8 1256.3 1835.7 1566.5 119.4 25.4 34.7 21.8 232.7 1334.0 1918.1 1661.2 127.8 10 11 12 13 14 15 16 17 18 19 20 21 22 Mutual funds Closed-end funds Exchange-traded funds Brokers and dealers Funding corporations 3051.3 53.0 146.3 100.5 0.0 3693.6 82.3 219.0 129.1 0.0 4175.7 105.6 285.8 158.3 0.0 4989.6 122.5 402.0 186.4 0.0 5476.9 146.2 573.7 224.8 0.0 3014.1 75.7 473.9 109.2 0.0 2668.3 69.1 412.8 79.6 0.0 3282.0 79.0 507.9 89.3 0.0 3930.0 87.8 597.5 108.5 0.0 4136.2 92.4 669.9 124.2 25.1 4363.7 94.6 687.2 109.4 25.4 18 19 20 21 22 14035.5 15704.1 16518.8 19012.2 19081.0 12047.9 10595.9 12322.7 14401.8 14948.6 15879.0 23 6 7 8 9 Holdings at market value Q2 Memo: 23 Market value of domestic corporations (4) (1) Excludes mutual fund shares shown on table L.214. (2) Holdings of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs). (3) Holdings of U.S. issues by foreign residents. (4) Sum of lines 2 and 4 less the sum of lines 11, 12, 13, 19, 20, 21, and 22; line 1 excludes intercorporate holdings of nonfinancial corporations. L.214 Mutual Fund Shares (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Shares at market value 4654.2 5436.3 6048.9 7068.3 7829.0 5435.3 5107.8 5856.9 6625.4 6961.6 7311.9 1 2 Holdings at market value 4654.2 5436.3 6048.9 7068.3 7829.0 5435.3 5107.8 5856.9 6625.4 6961.6 7311.9 2 2911.0 119.3 25.9 146.1 3427.7 130.1 27.5 195.8 3669.1 140.0 29.6 242.0 4188.1 180.7 32.5 316.8 4596.1 191.1 34.5 373.5 3326.0 125.8 27.4 262.0 3123.0 128.1 26.6 246.2 3545.4 152.1 34.0 282.3 3947.0 178.0 42.2 319.4 4152.0 189.7 44.4 335.6 4318.7 204.7 47.2 352.5 3 4 5 6 17.1 4.1 18.1 3.1 17.4 2.2 24.5 2.1 29.6 2.1 19.6 2.0 33.5 1.8 36.0 1.8 49.7 1.5 46.1 1.3 52.1 1.6 7 8 4.3 91.7 1126.9 207.9 5.2 114.4 1278.2 235.9 5.7 109.0 1585.4 248.4 6.9 148.8 1880.4 287.5 6.8 188.4 2110.6 296.4 4.4 121.0 1366.0 181.1 4.2 113.7 1268.7 161.9 4.6 123.8 1488.7 188.1 5.0 136.4 1727.7 218.3 5.3 140.8 1817.3 229.2 5.4 144.8 1941.5 243.4 9 10 11 12 3 4 5 6 Household sector Nonfinancial corporate business State and local governments Rest of the world 7 8 Commercial banking Credit unions 9 10 11 12 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds (1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities. 93 Z.1, June 10, 2010 L.215 Bank Loans Not Elsewhere Classified Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 1 Total loans by commercial banking, flow of funds basis 4461.2 4905.9 5473.7 6151.2 6809.8 7187.0 7049.1 6968.8 6714.3 6672.5 6922.8 1 2 3 4 5 - Loans elsewhere classified: Open market paper Mortgages Consumer credit Security credit 0.0 2255.8 669.4 200.9 0.0 2595.6 704.3 195.8 0.0 2958.0 707.0 230.7 0.0 3403.1 741.2 302.2 0.0 3644.4 804.1 334.5 15.7 3841.4 878.6 221.0 4.5 3853.3 850.7 216.6 9.8 3897.6 837.8 194.1 0.1 3795.4 832.7 222.0 0.0 3818.7 855.3 219.6 0.0 3760.6 1163.2 232.7 2 3 4 5 6 = Banking sector total bank loans n.e.c. 7 8 9 10 U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 1335.1 1410.1 1577.9 1704.8 2026.9 2230.3 2124.0 2029.4 1864.1 1778.9 1766.3 6 1083.0 225.7 7.9 18.5 1150.5 234.0 5.3 20.3 1249.3 294.7 8.1 25.9 1312.2 361.8 5.1 25.6 1532.9 466.8 5.8 21.4 1670.8 531.9 7.9 19.7 1580.7 506.3 17.3 19.7 1523.3 470.9 16.6 18.6 1395.0 432.6 16.8 19.7 1338.4 406.5 14.6 19.4 1327.3 403.8 16.7 18.4 7 8 9 10 11 + Loans from Federal Reserve banks 0.0 0.0 0.0 0.0 0.0 490.4 388.8 253.9 183.9 142.8 137.4 11 12 = Total bank loans n.e.c. 1335.1 1410.1 1577.9 1704.8 2026.9 2720.7 2512.8 2283.3 2048.0 1921.8 1903.7 12 13 Total liabilities 1335.1 1410.1 1577.9 1704.8 2026.9 2720.7 2512.8 2283.3 2048.0 1921.8 1903.7 13 1151.4 1160.4 1309.4 1498.5 1749.7 1947.5 1863.2 1790.8 1712.5 1650.2 1657.6 14 49.8 548.3 441.7 45.5 26.7 542.7 473.4 47.7 36.4 508.7 629.9 49.9 86.4 517.9 742.8 53.2 99.7 609.4 882.3 55.5 117.7 677.5 985.6 58.7 104.0 652.9 948.1 55.0 118.3 618.7 894.9 57.2 137.1 580.6 836.7 58.9 147.7 553.5 793.6 58.5 200.8 554.2 751.0 54.6 15 16 17 18 66.1 4.5 8.9 52.7 69.9 5.5 13.4 51.0 84.4 2.6 18.1 63.7 98.3 1.9 21.9 74.4 102.8 1.9 30.2 70.8 107.9 2.6 33.0 72.4 103.1 2.6 29.3 71.3 101.6 2.9 26.7 72.0 99.2 3.4 27.9 67.9 96.8 3.2 27.9 65.8 97.0 3.0 30.4 63.6 19 20 21 22 183.7 249.7 268.6 206.2 277.1 773.2 649.6 492.5 335.5 271.6 246.1 23 59.0 106.9 17.8 0.0 0.0 87.9 136.9 24.9 0.0 0.0 93.1 142.1 33.3 0.0 0.0 48.6 129.2 28.4 0.0 0.0 62.0 182.0 33.2 0.0 0.0 75.0 174.9 32.9 45.5 444.9 67.5 167.2 30.9 20.4 363.7 62.0 177.5 24.2 5.1 223.8 11.3 161.7 21.3 0.0 141.2 11.0 144.5 20.8 0.0 95.3 11.3 125.9 18.6 0.0 90.2 24 25 26 27 28 14 Nonfinancial sectors 15 16 17 18 Households Corporate business Nonfarm noncorporate business Farm business 19 20 21 22 Rest of the world Foreign official institutions Foreign banks Other foreign 23 24 25 26 27 28 Financial sectors Savings institutions Finance companies REITs Brokers and dealers Funding corporations 94 Z.1, June 10, 2010 L.216 Other Loans and Advances Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 Total other loans and advances 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 1613.0 1742.2 1901.2 2071.6 2605.3 2712.1 2549.6 2439.8 2331.4 2275.2 2207.3 1 2 3 4 5 6 7 8 9 10 11 U.S. government loans Liab.: Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business State and local governments Rest of the world Government-sponsored enterprises Finance companies Funding corporations 116.7 13.1 8.1 39.4 4.4 9.7 42.0 0.0 0.0 0.0 113.7 12.2 8.4 40.8 4.0 10.0 38.3 0.0 0.0 0.0 106.7 11.5 9.2 37.9 3.8 10.6 33.7 0.0 0.0 0.0 107.3 12.9 10.4 42.7 3.7 11.2 26.4 0.0 0.0 0.0 105.2 12.5 10.2 43.8 3.7 11.9 23.1 0.0 0.0 0.0 111.3 12.8 14.5 46.0 3.7 12.7 21.6 0.0 0.0 0.0 126.0 12.8 27.3 47.0 3.7 12.9 21.2 0.0 1.2 0.1 150.0 12.7 49.8 47.8 3.8 13.1 21.4 0.0 1.4 0.1 173.8 12.6 74.1 48.2 4.1 13.2 21.4 0.0 0.0 0.1 177.1 12.6 73.9 49.2 4.2 13.5 21.6 0.0 0.0 2.0 180.6 12.6 73.6 50.0 4.3 13.7 21.8 0.0 0.0 4.8 2 3 4 5 6 7 8 9 10 11 12 13 Foreign loans to U.S. corporate business Liab.: Nonfinancial corporate business 125.0 125.0 131.2 131.2 162.5 162.5 168.8 168.8 271.5 271.5 207.8 207.8 196.2 196.2 193.2 193.2 181.9 181.9 182.7 182.7 186.0 186.0 12 13 14 15 16 Customers’ liability on acceptances outstanding (bank asset) Liab.: Nonfinancial corporate business Rest of the world 4.4 4.2 0.2 4.0 3.8 0.3 4.0 3.8 0.2 0.4 0.3 0.2 0.5 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14 15 16 17 18 19 Savings institution loans to business Liab.: Nonfinancial corporate business Nonfarm noncorporate business 56.3 28.2 28.2 57.6 28.8 28.8 61.5 30.7 30.7 67.5 33.7 33.7 73.7 36.9 36.9 80.1 40.0 40.0 80.7 40.4 40.4 74.5 37.3 37.3 65.9 32.9 32.9 65.6 32.8 32.8 65.1 32.6 32.6 17 18 19 20 21 22 Credit unions loans to business Liab.: Nonfinancial corporate business Nonfarm noncorporate business 23.0 11.5 11.5 24.9 12.5 12.5 25.9 13.0 13.0 26.8 13.4 13.4 26.9 13.4 13.4 29.6 14.8 14.8 31.4 15.7 15.7 32.2 16.1 16.1 31.8 15.9 15.9 32.3 16.2 16.2 31.8 15.9 15.9 20 21 22 23 24 25 Policy loans (Household liability) Asset: Federal government Life insurance companies 105.2 0.8 104.5 106.8 0.7 106.1 107.6 0.7 106.9 110.9 0.6 110.2 114.5 0.6 113.9 120.4 0.6 119.8 120.8 0.6 120.2 121.3 0.5 120.7 120.4 0.5 119.9 121.1 0.5 120.6 121.7 0.5 121.2 23 24 25 26 27 28 29 30 31 32 33 Government-sponsored enterprise loans (1) Liab.: Household sector (SLMA) Noncorporate business (FCS) Farm business (FCS) Commercial banks (FHLB and SLMA) Savings institutions (FHLB and SLMA) Credit unions (FHLB) Life insurance companies (FHLB) 545.8 0.3 19.8 24.0 235.3 249.3 9.1 8.0 619.4 0.0 18.1 25.5 244.1 309.3 11.4 11.1 671.8 0.0 20.0 31.6 268.5 325.5 14.7 11.5 704.9 0.0 24.2 39.3 348.5 259.8 18.9 14.2 942.6 0.0 28.5 47.0 455.2 350.9 32.3 28.7 980.7 0.0 53.4 26.9 526.3 278.7 40.6 54.9 873.0 0.0 52.3 27.8 457.8 252.4 30.3 52.5 800.8 0.0 54.2 26.1 452.5 189.0 28.5 50.5 736.8 0.0 55.6 22.5 404.2 178.7 28.3 47.5 695.9 0.0 56.4 23.6 402.0 139.1 26.5 48.3 634.5 0.0 54.3 23.4 357.0 128.8 25.4 45.6 26 27 28 29 30 31 32 33 34 35 Securitized loans held by ABS issuers Liab.: Nonfinancial corporate business 111.4 111.4 111.4 111.4 93.9 93.9 97.7 97.7 93.7 93.7 78.1 78.1 70.5 70.5 63.5 63.5 53.3 53.3 54.4 54.4 37.7 37.7 34 35 36 37 38 Finance company loans to business Liab.: Nonfinancial corporate business Nonfarm noncorporate business 441.7 397.6 44.2 451.5 406.4 45.2 479.2 431.3 47.9 498.0 448.2 49.8 523.0 470.7 52.3 539.9 485.9 54.0 516.7 465.0 51.7 493.0 443.7 49.3 474.3 426.8 47.4 448.9 404.0 44.9 447.5 402.8 44.8 36 37 38 39 40 41 42 43 44 45 Loans to nonfinancial corporate business (2) Asset: Household sector Life insurance companies Mutual funds ABS issuers Brokers and dealers Funding corporations 83.4 3.1 9.8 16.4 37.8 9.0 7.3 121.5 5.9 11.7 26.0 56.7 14.2 7.0 188.1 8.7 15.9 36.5 94.5 22.0 10.6 289.2 9.1 22.4 46.3 155.7 41.7 14.1 453.8 17.6 31.9 82.4 248.3 52.8 20.8 564.3 29.7 46.3 94.8 301.7 55.9 35.9 534.3 27.4 40.3 95.4 289.5 50.2 31.5 511.3 25.6 35.7 95.8 280.1 45.9 28.2 493.2 24.1 32.2 96.2 272.7 42.5 25.6 497.2 24.5 32.9 96.1 274.3 43.2 26.1 502.2 24.9 33.9 96.0 276.4 44.2 26.9 39 40 41 42 43 44 45 (1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. (2) Syndicated loans from domestic entities, excluding banks and finance companies which are included elsewhere. 95 Z.1, June 10, 2010 L.217 Total Mortgages Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 6 Total mortgages Home Multifamily residential Commercial Farm 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 9376.9 10637.1 12073.3 13469.5 14533.2 14623.1 14610.4 14562.0 14455.2 14340.5 14200.2 1 7239.9 557.1 1496.8 83.2 8268.2 604.3 1668.9 95.7 9382.4 666.6 1919.5 104.8 10455.6 707.3 2198.5 108.0 11165.9 789.5 2465.1 112.7 11070.6 840.5 2581.9 130.1 11059.8 842.4 2576.0 132.2 11011.6 851.7 2564.4 134.2 10923.5 856.8 2538.5 136.3 10858.7 849.0 2494.3 138.5 10749.1 852.1 2460.6 138.4 2 3 4 5 9376.9 10637.1 12073.3 13469.5 14533.2 14623.1 14610.4 14562.0 14455.2 14340.5 14200.2 6 Household sector 7055.9 8014.6 9061.7 10079.3 10778.8 10748.6 10747.7 10711.9 10641.8 10577.5 10480.1 7 8 9 10 11 Nonfinancial business Corporate Nonfarm noncorporate Farm 2215.2 506.7 1625.3 83.2 2491.2 558.9 1836.6 95.7 2866.1 753.8 2007.5 104.8 3238.1 841.2 2288.9 108.0 3597.6 891.8 2593.1 112.7 3711.0 929.4 2651.5 130.1 3697.8 924.7 2640.9 132.2 3682.9 920.8 2627.8 134.2 3646.5 907.6 2602.5 136.3 3596.1 896.3 2561.4 138.5 3552.6 880.3 2534.0 138.4 8 9 10 11 12 13 Federal government REITs 0.0 105.9 0.0 131.4 0.0 145.5 0.0 152.1 0.0 156.7 0.0 163.5 0.0 164.9 0.0 167.3 0.0 166.9 0.0 166.9 0.0 167.4 12 13 9376.9 10637.1 12073.3 13469.5 14533.2 14623.1 14610.4 14562.0 14455.2 14340.5 14200.2 14 7 14 Total liabilities 2004 Total assets 15 16 17 Household sector Nonfinancial corporate business Nonfarm noncorporate business 120.9 51.8 26.3 131.3 66.6 30.8 139.4 68.3 36.2 122.1 59.8 34.6 109.1 41.4 42.1 110.5 34.3 44.6 108.9 32.5 43.9 106.9 30.7 43.2 104.6 29.0 42.2 102.3 27.2 41.4 100.8 25.4 40.6 15 16 17 18 19 State and local governments Federal government 132.9 72.6 141.2 74.2 151.9 76.6 166.4 80.3 176.9 82.4 171.3 95.8 167.6 96.7 177.7 102.2 188.7 110.0 191.3 108.4 193.5 107.1 18 19 20 21 22 Commercial banking Savings institutions (1) Credit unions 2255.8 870.6 159.6 2595.6 1057.4 188.3 2958.0 1152.7 219.7 3403.1 1076.8 249.7 3644.4 1094.0 281.5 3841.4 860.6 314.7 3853.3 849.8 316.3 3897.6 752.2 319.0 3795.4 725.8 317.7 3818.7 633.3 317.9 3760.6 629.3 319.0 20 21 22 23 24 25 26 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds 2.1 260.9 10.2 20.4 2.4 273.3 10.0 15.1 2.7 285.5 9.8 16.4 3.5 303.8 9.5 14.4 4.8 326.2 10.2 9.7 5.0 342.4 11.1 9.4 5.0 338.6 11.6 9.4 5.0 335.0 12.1 9.4 4.8 332.4 12.8 9.4 4.4 326.1 13.6 9.3 4.3 321.4 14.6 9.3 23 24 25 26 27 28 29 Government-sponsored enterprises (1) Agency- and GSE-backed mortgage pools ABS issuers 621.5 3343.3 1009.3 629.0 3384.0 1443.7 588.8 3548.5 2131.3 607.2 3841.1 2767.0 643.1 4464.4 2950.0 701.4 4961.4 2595.4 719.1 5042.0 2504.1 704.8 5170.7 2399.6 701.4 5297.5 2304.5 696.7 5376.4 2216.9 5059.9 1048.0 2118.9 27 28 29 30 31 Finance companies REITs 370.2 48.7 476.0 118.1 541.4 146.1 594.4 135.8 531.9 121.3 447.9 75.9 440.2 71.5 426.8 68.9 415.6 63.5 397.4 59.1 386.9 60.5 30 31 (1) FHLB loans to savings institutions are included in other loans and advances. 96 Z.1, June 10, 2010 L.218 Home Mortgages (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 6 7 8 Total liabilities Household sector Nonfinancial corporate business Nonfarm noncorporate business Total assets Household sector Nonfinancial corporate business Nonfarm noncorporate business 9 10 State and local governments Federal government 11 12 13 Commercial banking Savings institutions Credit unions 14 15 16 Life insurance companies Private pension funds State and local govt. retirement funds 17 18 19 Government-sponsored enterprises Agency- and GSE-backed mortgage pools ABS issuers 20 21 Finance companies REITs 22 23 24 25 26 27 Memo: Home equity loans included above (2) Commercial banking Savings institutions Credit unions ABS issuers Finance companies 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 7239.9 8268.2 9382.4 10455.6 11165.9 11070.6 11059.8 11011.6 10923.5 10858.7 10749.1 1 6894.4 18.8 326.7 7835.3 23.5 409.4 8874.3 31.1 477.0 9865.0 39.4 551.2 10538.5 42.2 585.1 10496.9 32.7 541.0 10496.6 30.0 533.3 10461.9 26.8 523.0 10394.3 23.3 505.8 10334.4 20.3 504.0 10240.3 18.4 490.4 2 3 4 7239.9 8268.2 9382.4 10455.6 11165.9 11070.6 11059.8 11011.6 10923.5 10858.7 10749.1 5 106.3 26.1 9.7 112.9 39.9 11.3 117.9 40.9 13.3 102.9 35.9 12.7 90.8 25.0 15.4 91.2 20.6 16.3 89.2 19.5 16.1 87.2 18.4 15.8 85.2 17.4 15.4 83.2 16.3 15.1 81.2 15.2 14.8 6 7 8 67.8 14.1 72.0 13.6 77.5 13.2 84.9 13.3 90.2 13.7 87.5 16.4 85.6 16.4 90.7 18.9 96.2 22.8 97.6 22.1 98.7 23.2 9 10 1359.7 702.8 159.6 1581.6 874.2 188.3 1792.1 953.8 219.7 2082.1 867.8 249.7 2210.5 879.0 281.5 2249.0 666.3 314.7 2253.4 654.9 316.3 2300.0 556.6 319.0 2211.7 534.5 317.7 2259.7 448.6 317.9 2221.4 444.5 319.0 11 12 13 8.4 1.7 7.3 8.1 1.4 5.4 7.5 1.4 5.9 10.3 1.3 5.2 9.4 1.2 3.5 10.2 1.3 3.4 9.7 1.7 3.4 9.2 1.8 3.4 8.9 1.9 3.4 5.6 2.0 3.4 5.5 2.1 3.3 14 15 16 519.1 3233.5 666.4 508.6 3277.3 1048.6 453.9 3446.4 1621.9 457.6 3749.1 2140.8 447.9 4371.8 2174.2 456.9 4864.0 1860.8 470.6 4943.5 1777.5 452.2 5068.6 1680.9 444.4 5192.1 1595.3 438.5 5266.5 1527.0 4750.6 983.5 1439.9 17 18 19 320.2 37.1 422.0 102.9 489.8 127.4 538.1 103.7 472.7 79.2 375.4 36.7 368.4 33.7 356.1 32.8 345.1 31.5 327.7 27.5 317.0 29.1 20 21 593.4 366.0 95.6 51.7 16.1 64.0 775.6 483.5 121.2 63.9 23.3 83.7 914.8 549.0 151.6 75.9 40.4 98.0 1066.1 653.6 137.6 86.9 80.4 107.6 1130.8 692.3 180.5 94.1 69.4 94.5 1114.1 776.1 119.5 98.7 44.8 75.1 1096.5 769.7 116.0 97.0 40.2 73.7 1074.7 781.2 90.0 96.1 36.2 71.2 1051.4 766.8 87.9 95.0 32.8 69.0 1032.1 761.7 80.0 94.6 30.3 65.5 1012.5 751.2 78.4 92.0 27.6 63.4 22 23 24 25 26 27 (1) Mortgages on 1-4 family properties including mortages on farm houses. (2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. L.219 Multifamily Residential Mortgages Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total liabilities 2 3 Nonfinancial corporate business Nonfarm noncorporate business 4 5 Federal government REITs 6 7 8 9 Total assets Household sector Nonfinancial corporate business Nonfarm noncorporate business 10 11 State and local governments Federal government 12 13 Commercial banking Savings institutions 14 15 16 Life insurance companies Private pension funds State and local govt. retirement funds 17 18 19 Government-sponsored enterprises Agency- and GSE-backed mortgage pools ABS issuers 20 21 Finance companies REITs 557.1 604.3 666.6 707.3 789.5 840.5 842.4 851.7 856.8 849.0 852.1 1 30.4 505.3 32.4 547.0 34.4 607.4 36.5 645.7 38.3 728.5 39.7 775.7 40.0 776.7 40.3 784.3 40.5 789.1 40.9 781.3 41.4 783.6 2 3 0.0 21.3 0.0 24.9 0.0 24.8 0.0 25.1 0.0 22.7 0.0 25.1 0.0 25.7 0.0 27.2 0.0 27.2 0.0 26.8 0.0 27.1 4 5 557.1 604.3 666.6 707.3 789.5 840.5 842.4 851.7 856.8 849.0 852.1 6 0.0 1.0 8.8 0.0 1.0 10.4 0.0 1.1 12.3 0.0 0.9 11.7 0.0 0.6 14.3 0.0 0.5 15.2 0.0 0.5 15.0 0.0 0.5 14.7 0.0 0.4 14.4 0.0 0.4 14.1 0.0 0.4 13.8 7 8 9 53.1 14.5 56.5 15.0 60.8 14.9 66.6 14.8 70.8 14.4 68.4 14.5 66.9 14.4 71.1 14.4 75.5 14.4 76.5 14.7 77.4 14.5 10 11 104.5 77.9 118.7 87.5 138.7 98.4 157.6 95.8 168.4 92.7 215.1 65.2 216.8 65.7 216.8 65.8 217.0 63.5 211.0 59.9 209.7 60.1 12 13 38.6 2.2 6.1 40.5 2.2 4.5 42.4 2.1 4.9 46.1 2.0 4.3 51.8 2.1 2.9 51.8 2.4 2.8 51.2 2.3 2.8 50.7 2.4 2.8 50.3 2.6 2.8 48.5 2.7 2.8 47.8 3.0 2.8 14 15 16 68.2 108.7 66.2 82.5 105.7 72.7 93.0 101.3 89.3 105.4 88.8 103.2 147.7 88.1 125.4 187.7 92.8 114.4 190.8 93.8 112.8 194.1 97.5 112.1 197.4 100.9 110.3 197.8 105.4 108.2 247.8 61.2 107.3 17 18 19 5.7 1.5 5.6 1.6 5.6 1.9 5.1 5.0 5.1 5.2 5.8 3.9 5.6 3.7 5.5 3.3 5.3 2.0 5.1 1.9 4.7 1.8 20 21 97 Z.1, June 10, 2010 L.220 Commercial Mortgages Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 6 Total liabilities Household sector Nonfinancial corporate business Nonfarm noncorporate business REITs 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 1496.8 1668.9 1919.5 2198.5 2465.1 2581.9 2576.0 2564.4 2538.5 2494.3 2460.6 1 161.4 457.4 793.4 84.5 179.2 503.0 880.2 106.5 187.4 688.2 923.2 120.7 214.3 765.3 1092.0 127.0 240.3 811.3 1279.5 134.0 251.7 857.0 1334.8 138.4 251.1 854.7 1330.9 139.2 250.0 853.7 1320.6 140.1 247.5 843.9 1307.5 139.7 243.1 835.1 1276.1 140.1 239.8 820.4 1260.0 140.4 2 3 4 5 1496.8 1668.9 1919.5 2198.5 2465.1 2581.9 2576.0 2564.4 2538.5 2494.3 2460.6 6 Household sector Nonfinancial corporate business Nonfarm noncorporate business 11.6 24.7 7.3 12.9 25.6 8.5 14.9 26.3 9.9 17.0 23.0 9.5 19.1 15.8 11.5 20.0 13.2 12.2 19.9 12.5 12.0 19.8 11.8 11.8 19.6 11.2 11.6 19.2 10.5 11.4 18.8 9.8 11.1 7 8 9 10 11 State and local governments Federal government 10.6 40.5 11.3 42.4 12.2 45.2 13.3 48.9 14.2 51.0 13.7 61.4 13.4 62.5 14.2 65.4 15.1 69.0 15.3 67.8 15.5 65.4 10 11 12 13 Commercial banking Savings institutions 762.6 89.2 860.7 95.1 989.4 100.0 1123.2 112.4 1223.6 121.5 1328.5 128.1 1333.6 128.2 1330.5 128.8 1315.6 126.9 1296.0 123.9 1278.5 123.9 12 13 14 15 16 17 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds 2.1 203.9 6.4 6.9 2.4 214.1 6.4 5.1 2.7 224.3 6.3 5.6 3.5 235.4 6.2 4.9 4.8 252.2 6.8 3.3 5.0 267.1 7.4 3.2 5.0 264.1 7.5 3.2 5.0 261.3 7.8 3.2 4.8 259.3 8.3 3.2 4.4 257.8 8.9 3.2 4.3 254.1 9.6 3.2 14 15 16 17 18 19 Agency- and GSE-backed mortgage pools ABS issuers 0.0 276.6 0.0 322.5 0.0 420.1 0.0 523.0 0.0 650.5 0.0 620.3 0.0 613.8 0.0 606.6 0.0 598.9 0.0 581.7 0.0 571.8 18 19 20 21 Finance companies REITs 44.2 10.1 48.4 13.6 46.0 16.8 51.1 27.1 54.0 37.0 66.6 35.3 66.2 34.1 65.2 32.9 65.1 30.0 64.6 29.7 65.2 29.6 20 21 7 8 9 Total assets 2004 L.221 Farm Mortgages (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total liabilities (Farm business) 83.2 95.7 104.8 108.0 112.7 130.1 132.2 134.2 136.3 138.5 138.4 1 2 Total assets 83.2 95.7 104.8 108.0 112.7 130.1 132.2 134.2 136.3 138.5 138.4 2 3 4 Household sector Nonfarm noncorporate business 3.0 0.5 5.5 0.6 6.7 0.7 2.2 0.7 -0.8 0.8 -0.6 0.9 -0.2 0.9 -0.0 0.9 -0.2 0.8 -0.2 0.8 0.8 0.8 3 4 5 6 State and local governments Federal government 1.3 3.4 1.4 3.2 1.5 3.2 1.7 3.2 1.8 3.3 1.7 3.5 1.7 3.5 1.8 3.5 1.9 3.7 1.9 3.9 1.9 4.0 5 6 7 8 Commercial banking Savings institutions 29.0 0.6 34.6 0.6 37.9 0.6 40.1 0.7 41.9 0.9 48.8 0.9 49.6 0.9 50.3 0.9 51.1 0.9 51.9 0.9 51.1 0.9 7 8 9 10 Life insurance companies State and local govt. retirement funds 10.0 0.0 10.7 0.0 11.3 0.0 12.0 0.0 12.8 0.0 13.4 0.0 13.6 0.0 13.8 0.0 14.0 0.0 14.3 0.0 14.0 0.0 9 10 11 12 Government-sponsored enterprises Agency- and GSE-backed mortgage pools 34.2 1.0 38.0 0.9 42.0 0.8 44.2 3.2 47.6 4.5 56.9 4.7 57.6 4.6 58.5 4.6 59.5 4.5 60.4 4.5 61.5 3.3 11 12 (1) Excludes mortgages on farm houses. 98 Z.1, June 10, 2010 L.222 Consumer Credit Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 1 Total liabilities (Households) 2102.9 2220.1 2320.6 2416.0 2555.3 2594.1 2517.9 2487.9 2496.7 2478.9 2421.8 1 2 Total assets 2102.9 2220.1 2320.6 2416.0 2555.3 2594.1 2517.9 2487.9 2496.7 2478.9 2421.8 2 59.0 0.0 82.4 59.2 0.0 86.1 59.6 0.0 89.8 57.6 0.0 91.7 58.6 0.0 98.4 59.8 0.0 111.0 55.0 0.0 122.7 53.8 0.0 135.4 53.0 0.0 157.8 57.2 0.0 186.0 53.5 0.0 209.8 3 4 5 3 4 5 Nonfinancial corporate business Nonfarm noncorporate business Federal government 6 7 8 Commercial banking Savings institutions Credit unions 669.4 77.9 205.9 704.3 91.3 215.4 707.0 109.1 228.6 741.2 95.5 234.5 804.1 90.8 235.7 878.6 86.3 236.2 850.7 80.0 233.3 837.8 75.9 234.7 832.7 78.1 240.3 855.3 77.5 237.2 1163.2 78.0 228.0 6 7 8 Government-sponsored enterprises ABS issuers Finance companies 20.6 594.8 393.0 0.0 571.5 492.3 0.0 609.9 516.5 0.0 661.1 534.4 0.0 683.7 584.1 0.0 646.4 575.8 0.0 629.3 546.8 0.0 623.8 526.5 0.0 614.1 520.7 0.0 577.9 487.8 0.0 152.3 536.9 9 10 11 9 10 11 L.223 Trade Credit Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total trade payables 2 Household sector 3 4 5 Nonfinancial corporate business Nonfarm noncorporate business Farm business 6 7 State and local governments Federal government 8 9 Rest of the world Brokers and dealers 10 Total trade receivables 11 12 Nonfinancial corporate business Nonfarm noncorporate business 13 14 15 State and local governments Federal government Rest of the world 16 17 Property-casualty insurance companies ABS issuers 18 Discrepancy 2468.1 2662.8 3003.6 3195.9 3398.1 3330.5 3284.5 3297.4 3380.8 3419.3 3438.2 1 156.8 173.3 186.3 199.9 214.5 230.2 231.8 233.8 237.9 241.2 246.3 2 1402.7 255.3 7.1 1499.9 277.4 9.1 1699.4 329.4 6.3 1813.0 349.4 -0.7 1898.9 378.7 -4.8 1740.9 396.9 19.5 1665.5 392.4 22.9 1654.8 386.7 22.8 1655.7 379.9 24.9 1695.9 373.9 24.7 1665.7 367.8 26.8 3 4 5 419.7 153.6 449.9 169.0 482.0 202.7 516.4 208.9 553.7 238.1 593.7 264.8 603.2 260.6 612.9 263.6 622.7 322.7 632.4 318.4 642.1 366.1 6 7 44.7 28.2 48.2 36.0 54.5 43.1 60.7 48.3 73.1 45.8 63.2 21.2 60.3 47.8 68.3 54.5 70.1 66.9 62.7 70.1 61.2 62.2 8 9 2439.1 2622.4 2993.6 3036.7 3288.3 3189.6 3155.0 3194.5 3242.2 3145.5 3194.4 10 1701.8 337.7 1830.6 364.3 2108.2 430.9 2090.0 470.9 2253.0 525.6 2126.6 556.6 2113.9 548.9 2154.6 539.2 2164.9 527.6 2088.5 517.5 2108.7 507.0 11 12 126.5 51.3 50.1 134.4 61.8 49.0 144.7 71.0 56.9 158.5 59.4 62.8 168.4 60.6 83.5 169.9 64.7 89.6 166.4 65.0 87.2 175.4 68.2 92.2 179.7 70.6 146.3 182.1 72.7 140.8 184.3 68.8 186.4 13 14 15 79.3 92.3 79.6 102.6 82.1 99.8 87.0 108.3 85.4 111.7 86.7 95.5 87.4 86.1 87.3 77.7 85.4 67.8 83.0 61.1 84.8 54.4 16 17 29.0 40.4 10.0 159.2 109.8 140.8 129.5 102.9 138.5 273.8 243.8 18 L.224 Security Credit Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 858.8 1038.2 1038.4 1249.9 1526.4 1128.5 1017.2 999.1 1067.5 1091.2 1108.6 1 2 3 Household sector Rest of the world 182.5 0.0 264.0 0.0 232.4 0.0 292.1 0.0 325.5 0.0 164.8 0.0 134.3 0.0 147.7 0.0 173.8 0.0 203.0 0.0 196.4 0.0 2 3 4 5 6 7 Brokers and dealers Customer credit balances (HH) From U.S.-chartered commercial banks From foreign banking offices in U.S. 676.3 475.4 91.4 109.5 774.2 578.3 102.2 93.7 806.0 575.3 95.6 135.1 957.8 655.7 116.5 185.6 1200.9 866.4 145.9 188.6 963.6 742.7 158.6 62.3 882.9 666.3 139.1 77.5 851.4 657.3 120.9 73.3 893.7 671.7 157.1 65.0 888.2 668.6 158.0 61.6 912.2 679.5 160.3 72.3 4 5 6 7 858.8 1038.2 1038.4 1249.9 1526.4 1128.5 1017.2 999.1 1067.5 1091.2 1108.6 8 8 Total liabilities Total assets 9 10 Household sector Rest of the world 475.4 0.0 578.3 0.0 575.3 0.0 655.7 0.0 866.4 0.0 742.7 0.0 666.3 0.0 657.3 0.0 671.7 0.0 668.6 0.0 679.5 0.0 9 10 11 12 Commercial banking Brokers and dealers 200.9 182.5 195.8 264.0 230.7 232.4 302.2 292.1 334.5 325.5 221.0 164.8 216.6 134.3 194.1 147.7 222.0 173.8 219.6 203.0 232.7 196.4 11 12 99 Z.1, June 10, 2010 L.225 Life Insurance and Pension Fund Reserves Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 Life insurance reserves: 1 Total liabilities 1013.2 1060.4 1082.6 1163.7 1201.5 1179.8 1183.0 1204.5 1227.3 1242.1 1255.2 1 2 3 Federal government Life insurance companies 40.5 972.7 41.6 1018.8 42.7 1039.9 44.2 1119.5 45.4 1156.1 46.4 1133.4 46.3 1136.6 46.9 1157.6 46.9 1180.4 47.5 1194.5 47.4 1207.8 2 3 4 Total assets (Households) 1013.2 1060.4 1082.6 1163.7 1201.5 1179.8 1183.0 1204.5 1227.3 1242.1 1255.2 4 9718.9 10635.5 11460.1 12750.6 13390.7 10415.8 9895.2 10668.2 11565.0 11948.6 12345.4 5 Pension fund reserves: 5 Total liabilities 6 7 Life insurance companies Private pension funds (1) 1803.2 4561.3 2027.9 4963.0 2197.4 5427.8 2332.4 6120.5 2450.8 6444.8 2184.6 4588.0 2155.6 4283.1 2221.7 4766.5 2312.3 5306.5 2338.0 5507.4 2378.7 5763.2 6 7 8 9 State and local govt. retirement funds Federal government retirement funds (2) 2396.0 958.5 2621.3 1023.3 2763.4 1071.5 3156.6 1141.1 3297.9 1197.2 2422.0 1221.2 2264.1 1192.4 2465.2 1214.8 2696.4 1249.7 2778.8 1324.4 2885.7 1317.7 8 9 9718.9 10635.5 11460.1 12750.6 13390.7 10415.8 9895.2 10668.2 11565.0 11948.6 12345.4 10 10 Total assets (Households) (3) (1) Includes unallocated insurance company contracts beginning 1985:Q4. (2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds. (3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies. L.226 Taxes Payable by Businesses Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total taxes payable by all businesses 198.8 219.2 214.5 237.0 167.7 39.9 42.9 47.9 79.3 76.5 79.7 1 2 3 Nonfinancial corporate business Nonfarm noncorporate business 81.2 69.7 88.0 78.0 86.2 86.7 85.4 95.7 35.8 99.5 39.0 102.0 40.7 101.4 35.1 100.6 42.4 99.6 37.6 98.8 49.4 97.9 2 3 4 5 U.S.-chartered commercial banks (net) Savings institutions 35.1 2.6 33.6 3.6 25.8 3.6 24.7 3.3 11.1 1.3 -74.6 1.0 -72.6 1.4 -80.9 0.8 -65.9 1.4 -67.5 1.3 -73.7 1.6 4 5 6 7 Property-casualty insurance companies (net) Life insurance companies (net) 1.0 -5.8 1.5 -2.7 -1.6 -5.3 9.4 -1.3 7.0 -4.7 -21.1 -24.4 -24.2 -21.8 -20.5 -6.3 -14.5 -3.7 -15.8 3.7 -12.4 0.0 6 7 8 9 Finance companies Brokers and dealers 13.2 1.8 15.0 2.2 16.9 2.1 17.0 2.8 15.5 2.2 15.4 2.5 15.4 2.7 14.6 4.5 13.8 6.2 12.7 5.7 12.6 4.4 8 9 167.2 190.9 232.6 285.1 342.5 389.3 397.8 404.0 417.2 416.1 420.9 10 73.6 93.7 99.6 91.2 141.0 91.6 189.0 96.1 237.5 105.0 269.8 119.4 274.5 123.4 276.8 127.3 286.0 131.2 280.9 135.1 281.8 139.1 11 12 31.5 28.4 -18.1 -48.1 -174.8 -349.4 -354.9 -356.2 -337.9 -339.6 -341.2 13 10 11 12 13 Total business taxes receivable State and local governments Federal government Discrepancy L.227 Proprietors’ Equity in Noncorporate Business Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 Total household equity Nonfarm noncorporate business Farm business Brokers and dealers 5852.4 6758.3 8358.0 8843.4 8797.6 7326.6 6853.2 6704.0 6717.0 6507.7 6525.3 1 4690.4 1149.0 13.0 5428.5 1318.6 11.2 6864.4 1481.9 11.7 7225.6 1608.0 9.8 7047.8 1738.2 11.6 5651.9 1665.3 9.5 5198.7 1643.8 10.8 5066.6 1626.6 10.9 5099.6 1606.4 11.0 4904.4 1593.0 10.2 4930.2 1585.7 9.4 2 3 4 100 Z.1, June 10, 2010 L.228 Total Miscellaneous Financial Claims Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 12008.3 13281.7 14259.7 15642.5 17403.0 19646.3 20138.6 19244.9 18866.1 18651.8 18868.2 1 2 3 4 Household sector Nonfinancial corporate business Nonfarm noncorporate business 20.9 3412.7 649.7 22.5 3593.3 718.2 22.4 3865.6 861.2 22.8 3920.2 1006.1 23.9 4213.4 1099.9 27.0 4549.6 1128.1 26.5 4691.6 1124.9 24.8 4764.5 1128.1 24.5 4831.6 1133.2 22.1 4874.6 1145.6 24.6 4895.3 1142.7 2 3 4 5 6 Federal government Rest of the world 855.8 2464.0 913.9 3084.0 963.7 3461.1 1017.2 4143.7 1094.2 4805.7 1183.5 5434.9 1157.1 5647.4 1162.5 4858.3 1179.5 4308.4 1261.6 4137.7 1243.8 4378.2 5 6 7 8 9 10 Monetary authority Commercial banking Savings institutions Credit unions 8.3 1336.9 28.1 7.4 12.5 1426.8 33.2 9.3 15.3 1388.5 60.5 11.9 18.5 1420.3 80.2 9.2 21.0 1686.6 102.4 3.6 23.1 2481.5 72.3 4.7 24.5 2613.2 74.7 20.7 33.0 2459.4 48.5 20.8 31.7 2465.5 41.5 20.8 29.2 2316.2 21.8 19.4 28.7 2352.7 22.4 12.1 7 8 9 10 11 12 Property-casualty insurance companies Life insurance companies 667.2 746.6 708.3 801.2 759.3 824.0 815.7 925.9 825.4 1010.6 846.4 905.0 836.5 862.0 837.7 882.6 845.2 951.4 848.8 937.3 851.6 980.7 11 12 13 14 Government-sponsored enterprises Finance companies 151.5 666.4 143.7 719.6 141.8 702.8 153.4 715.7 171.1 654.4 212.1 664.8 245.0 664.2 247.2 634.1 263.1 609.9 270.4 573.6 211.8 571.0 13 14 15 16 17 REITs Brokers and dealers Funding corporations 42.3 296.4 654.0 50.4 376.4 668.5 54.7 405.5 721.4 62.4 519.5 811.6 65.8 564.9 1060.3 62.1 449.2 1602.1 50.1 417.3 1682.9 51.1 441.2 1651.1 45.3 457.9 1656.7 39.3 485.8 1668.5 44.8 507.1 1600.8 15 16 17 16219.2 17858.7 19098.1 21547.0 24103.0 25007.7 25380.3 24945.2 24609.6 24649.4 24568.5 18 18 Total liabilities 2004 Total assets 19 20 21 22 Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business 501.3 7099.5 774.7 41.2 553.8 7678.9 1009.5 43.2 608.7 8128.6 1265.5 44.5 646.1 8888.1 1644.4 48.6 712.2 9825.1 1972.8 52.0 766.4 9852.1 2089.0 53.8 763.4 9783.5 2060.1 53.9 765.6 9826.6 2023.6 54.0 772.6 9873.5 1980.2 54.1 788.4 10077.1 1942.1 54.2 792.9 10190.6 1902.9 54.2 19 20 21 22 23 24 25 State and local governments Federal government Rest of the world 73.0 130.7 2267.5 64.6 134.0 2498.5 30.0 133.7 2688.4 -0.5 136.8 3305.7 18.7 138.7 3937.1 97.6 110.8 3779.2 51.4 113.6 4001.2 111.1 109.0 3720.2 121.1 97.7 3417.8 133.1 145.7 3289.2 161.2 146.3 3171.9 23 24 25 26 27 28 29 Monetary authority Commercial banking Savings institutions Credit unions 18.2 1915.7 98.1 26.3 18.6 2136.4 166.7 24.5 18.1 2223.7 107.9 24.2 17.0 2347.2 109.3 24.9 40.5 2546.6 115.5 35.9 569.8 3451.8 90.0 44.2 332.5 4108.0 99.9 60.1 163.0 4027.1 80.3 59.6 114.0 3971.6 72.8 55.1 75.9 3867.7 74.9 50.6 68.2 3881.3 75.0 37.3 26 27 28 29 30 31 32 33 34 Property-casualty insurance companies Life insurance companies Private pension funds State and local govt. retirement funds Federal government retirement funds 84.6 225.3 467.3 11.3 815.0 89.9 251.1 479.2 15.9 855.9 103.3 267.3 480.2 15.4 882.9 105.5 308.4 532.5 16.3 918.7 116.8 348.3 567.1 15.7 952.0 102.6 396.0 426.5 15.7 1015.3 102.1 364.3 392.6 15.6 993.2 102.1 318.2 454.8 15.6 997.6 107.5 303.8 509.9 16.1 1013.5 117.0 281.0 533.3 16.2 1077.2 121.4 272.2 549.6 16.4 1060.6 30 31 32 33 34 35 36 37 Money market mutual funds Mutual funds Government-sponsored enterprises 56.2 2.0 109.4 53.3 7.0 113.9 43.3 10.7 117.8 59.2 14.0 114.7 90.9 16.8 141.7 47.9 20.0 95.0 51.4 16.0 102.3 56.5 17.3 116.1 51.9 19.0 88.5 59.1 14.9 77.8 55.8 14.9 57.4 35 36 37 38 39 40 41 Finance companies REITs Brokers and dealers Funding corporations 120.5 29.3 858.8 493.4 94.5 40.4 994.0 534.8 46.7 51.9 1202.6 602.8 16.4 59.7 1599.4 634.6 18.2 55.4 1633.7 751.5 30.0 54.7 1105.7 793.5 44.4 54.0 1014.4 802.3 56.1 49.9 1083.2 737.6 55.1 49.8 1163.0 701.2 61.9 46.3 1141.0 724.6 45.3 47.9 1134.2 710.9 38 39 40 41 -4210.8 -4576.9 -4838.4 -5904.6 -6700.0 -5361.4 -5241.7 -5700.2 -5743.5 -5997.6 -5700.3 42 42 Discrepancy 101 Z.1, June 10, 2010 L.229 Identified Miscellaneous Financial Claims - Part I Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 U.S. direct investment abroad: 1 2 3 4 5 6 7 Liab.: Rest of the world Asset: Nonfinancial corporate business Commercial banking Property-casualty insurance companies Life insurance companies Finance companies Brokers and dealers 2054.5 1745.1 57.5 84.6 14.4 15.7 137.3 2498.5 2094.7 93.5 89.9 16.6 14.7 189.2 2651.7 2205.7 104.9 103.3 19.1 17.7 201.1 2948.2 2440.7 95.9 105.5 20.0 42.0 244.1 3451.5 2800.0 158.1 116.8 24.7 49.5 302.3 3698.8 3005.1 192.7 102.6 26.0 56.3 316.0 3745.3 3052.2 192.1 102.1 25.0 57.0 316.8 3796.3 3106.5 184.3 102.1 27.4 58.5 317.5 3871.7 3168.0 188.4 107.5 28.2 60.9 318.8 3919.8 3177.2 198.5 117.0 32.2 203.5 191.3 3990.2 3234.8 203.1 121.4 32.6 205.2 193.1 1 2 3 4 5 6 7 Foreign direct investment in U.S.: 8 9 10 11 12 13 14 15 Liab.: Nonfinancial corporate business Nonfarm noncorporate business Commercial banking Property-casualty insurance companies Life insurance companies Finance companies Brokers and dealers Funding corporations 1302.0 3.3 85.2 68.2 46.6 30.7 37.4 7.6 1409.8 3.0 122.7 61.4 66.6 21.8 49.6 7.8 1549.4 3.3 130.2 60.1 65.8 38.8 49.9 8.4 1722.7 3.6 135.4 99.9 71.3 51.1 61.0 9.0 2042.0 3.4 134.3 90.9 68.8 31.9 69.2 9.6 2265.5 3.2 119.1 86.5 56.4 26.2 79.9 10.2 2291.2 3.3 116.6 78.6 60.6 26.3 82.6 10.4 2309.8 3.3 121.7 80.4 68.4 30.7 83.9 10.5 2345.4 3.4 124.6 87.0 71.2 32.2 84.0 10.7 2349.1 3.3 132.4 94.0 77.8 31.3 100.2 10.8 2374.0 3.4 134.3 92.4 78.8 31.9 105.0 11.0 8 9 10 11 12 13 14 15 16 Asset: Rest of the world 1581.0 1742.7 1906.0 2154.1 2450.1 2646.8 2669.6 2708.7 2758.5 2798.9 2830.9 16 40.0 40.0 42.0 42.0 43.2 43.2 45.3 45.3 46.9 46.9 48.3 48.3 48.4 48.4 49.7 49.7 49.8 49.8 50.0 50.0 49.6 49.6 17 18 8.8 8.8 11.9 11.9 13.5 13.5 15.3 15.3 18.5 18.5 21.1 21.1 22.6 22.6 24.2 24.2 24.9 24.9 25.6 25.6 26.3 26.3 19 20 Federal government equity in IBRD, etc.: 17 18 Liab.: Rest of the world Asset: Federal government Federal Reserve Bank stock: 19 20 Liab.: Monetary authority Asset: Commercial banking Equity in government-sponsored enterprises: 21 Liab.: Government-sponsored enterprises 42.3 44.8 46.7 46.9 56.0 55.7 53.5 55.3 54.6 51.8 51.0 21 22 23 24 25 26 27 28 29 Asset: Nonfin. corporate business (Fannie Mae) Nonfarm noncorporate (BC) Farm business (FICB and FLB) Federal government Commercial banks (FHLB) Savings institutions (FHLB) Credit unions (FHLB) Life insurance companies (FHLB) 0.0 2.1 2.5 0.0 18.7 16.4 1.4 1.1 0.0 2.0 2.7 0.0 19.3 17.4 1.7 1.7 0.0 1.8 2.8 0.0 20.2 18.5 1.8 1.6 0.0 1.9 3.0 0.0 22.9 15.6 1.9 1.6 0.0 2.2 3.6 0.0 26.7 18.8 2.5 2.2 0.0 4.1 2.0 0.0 25.6 18.0 2.8 3.2 0.0 4.1 2.2 0.0 24.7 17.0 2.4 3.2 0.0 4.3 2.1 0.0 27.2 16.1 2.5 3.2 0.0 4.6 1.9 0.0 26.8 15.7 2.5 3.1 0.0 4.8 2.0 0.0 24.7 15.0 2.4 2.9 0.0 4.8 2.1 0.0 24.1 15.0 2.4 2.8 22 23 24 25 26 27 28 29 BHC investment in subsidiaries: 30 31 32 33 34 Liab.: Commercial banking Savings institutions Life insurance companies Finance companies Brokers and dealers 689.8 15.6 23.4 181.8 44.2 857.0 19.0 25.9 234.1 62.3 897.0 22.7 35.6 195.2 130.5 1006.9 24.7 38.3 198.5 145.1 1133.1 25.3 43.7 239.9 34.7 1181.3 31.6 31.2 232.6 102.3 1245.4 24.0 29.7 226.2 681.4 1260.8 24.3 33.9 212.7 678.6 1320.8 23.9 40.9 208.4 628.8 1346.3 22.2 40.5 209.3 553.9 1341.4 23.1 43.2 207.0 631.0 30 31 32 33 34 35 Asset: Bank holding companies 954.8 1198.2 1281.0 1413.5 1476.6 1579.0 2206.7 2210.3 2222.8 2172.1 2245.6 35 21.0 21.0 23.6 23.6 117.0 117.0 140.1 140.1 81.5 81.5 80.5 80.5 76.9 76.9 72.3 72.3 70.9 70.9 71.2 71.2 70.4 70.4 36 37 NFC inv. in finance company subs.: 36 37 Liab.: Finance companies Asset: Nonfinancial corporate business Funding corp. investment in subs.: 38 39 Liab.: Foreign banking offices in U.S. Brokers and dealers 134.7 358.7 167.7 367.1 188.8 414.0 197.3 437.3 241.0 510.5 276.6 516.9 269.3 533.0 224.5 513.2 199.1 502.1 200.9 523.7 186.9 524.0 38 39 40 Asset: Funding corporations 493.4 534.8 602.8 634.6 751.5 793.5 802.3 737.6 701.2 724.6 710.9 40 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 0.9 0.9 4.2 2.1 2.1 41 42 43 Equity investment under Public-Private Inv. Program: 41 42 43 Liab.: Funding corporations Asset: Households (1) Federal government (1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP). 102 Z.1, June 10, 2010 L.230 Identified Miscellaneous Financial Claims - Part II Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 2009 Q1 Q2 Q3 2010 Q1 Q4 Nonofficial foreign currencies: 1 2 3 Liab.: Rest of the world Asset: Federal government Monetary authority (1) 2.8 2.8 0.0 2.8 2.8 0.0 0.6 0.6 0.0 0.6 0.6 0.0 24.5 0.5 24.0 554.2 0.5 553.7 310.4 0.4 309.9 115.1 0.5 114.6 57.3 0.5 56.8 10.8 0.5 10.3 0.6 0.6 0.0 1 2 3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4 5 20.5 20.5 18.4 18.4 19.2 19.2 19.0 19.0 20.9 20.9 15.5 15.5 19.0 19.0 18.2 18.2 14.7 14.7 15.9 15.9 21.1 21.1 6 7 20.9 20.9 22.5 22.5 22.4 22.4 22.8 22.8 23.9 23.9 27.0 27.0 26.5 26.5 24.8 24.8 24.5 24.5 22.1 22.1 24.6 24.6 8 9 Postal Savings System deposits: 4 5 Liab.: Federal government Asset: Household sector Deposits at Federal Home Loan Banks: 6 7 Liab.: Government-sponsored enterprises Asset: Savings institutions Deferred and unpaid life insurance premiums: 8 9 Liab.: Household sector Asset: Life insurance companies Life insurance company reserves: 10 11 12 13 Liab.: Life insurance companies Health Policy dividend accumulation Policy and contract claims 199.5 121.5 40.5 37.5 211.0 131.3 41.7 38.0 217.3 138.3 42.7 36.3 232.1 149.8 43.5 38.8 247.6 163.3 43.7 40.6 265.2 182.7 40.4 42.1 267.4 184.9 42.0 40.5 268.9 187.2 41.1 40.6 274.6 192.9 40.5 41.2 273.6 192.4 39.2 42.0 275.6 193.5 39.1 43.0 10 11 12 13 14 Asset: Household sector 199.5 211.0 217.3 232.1 247.6 265.2 267.4 268.9 274.6 273.6 275.6 14 Policy payables: 15 Liab.: Property-casualty insurance companies 599.0 646.9 699.2 715.8 734.5 759.9 757.8 757.4 758.2 754.8 759.2 15 16 17 18 19 Asset: Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business 266.8 236.6 56.9 38.7 290.4 255.5 60.5 40.5 316.0 276.2 65.3 41.7 320.5 282.7 66.9 45.6 327.3 290.1 68.6 48.5 337.3 300.0 70.7 51.8 336.3 299.2 70.5 51.8 335.9 299.0 70.5 52.0 336.0 299.3 70.6 52.3 333.5 298.2 71.0 52.2 335.9 299.9 71.4 52.1 16 17 18 19 317.0 317.0 328.4 328.4 338.4 338.4 387.9 387.9 431.3 431.3 317.6 317.6 287.8 287.8 338.7 338.7 390.0 390.0 412.8 412.8 433.0 433.0 20 21 49.8 49.8 46.6 46.6 44.8 44.8 42.8 42.8 47.2 47.2 47.9 47.9 48.8 48.8 53.4 53.4 51.6 51.6 50.5 50.5 49.9 49.9 22 23 678.0 678.0 764.8 764.8 939.7 939.7 1242.3 1242.3 1240.2 1240.2 887.0 887.0 802.2 802.2 843.7 843.7 889.2 889.2 856.8 856.8 839.8 839.8 24 25 815.0 815.0 855.9 855.9 882.9 882.9 918.7 918.7 952.0 952.0 1015.3 1015.3 993.2 993.2 997.6 997.6 1013.5 1013.5 1077.2 1077.2 1060.6 1060.6 26 27 35.0 35.0 52.4 52.4 75.4 75.4 93.5 93.5 137.3 137.3 163.8 163.8 159.6 159.6 160.8 160.8 161.9 161.9 180.4 180.4 179.3 179.3 28 29 Unallocated insurance company contracts: 20 21 Liab.: Life insurance companies Asset: Private pension funds Pension fund contributions payable: 22 23 Liab.: Nonfinancial corporate business Asset: Private pension funds Securities borrowed (net): 24 25 Liab.: Funding corporations Asset: Brokers and dealers Nonmarketable government securities: 26 27 Liab.: Federal government Asset: Federal government retirement funds Retiree Health Care Funds (2): 28 29 Liab.: Federal government Asset: Household sector (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. 103 Z.1, June 10, 2010 L.231 Unidentified Miscellaneous Financial Claims Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 2009 Q1 1 Total liabilities Q2 Q3 Q4 2010 Q1 4075.3 4235.6 4358.0 4569.2 5211.1 6669.3 6840.3 6011.9 5476.2 5181.1 5245.4 1 2060.9 646.5 2136.9 715.2 2271.4 857.9 2154.7 1002.5 2124.1 1096.4 2236.2 1124.9 2351.6 1121.6 2401.3 1124.8 2434.6 1129.8 2475.0 1142.3 2471.4 1139.2 2 3 Federal government Rest of the world Monetary authority 5.8 366.8 -0.6 5.6 540.8 0.6 5.4 765.6 1.8 5.1 1149.7 3.2 4.9 1282.9 2.5 4.3 1133.6 2.1 4.2 1543.3 1.9 4.2 897.2 8.8 4.1 329.6 6.8 4.0 157.2 3.6 3.9 337.8 2.5 4 5 6 7 8 9 10 11 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 427.2 45.7 108.5 241.4 31.7 279.4 46.4 -81.2 271.6 42.5 172.6 -30.4 -55.1 216.0 42.2 80.6 -67.8 -177.9 288.6 37.7 178.2 -94.7 -75.8 322.4 26.2 904.5 13.6 453.7 415.5 21.7 981.8 10.8 431.8 517.4 21.8 852.3 -24.7 333.7 522.5 20.8 820.9 13.0 240.3 540.8 26.7 636.6 -4.4 98.1 517.9 25.0 690.0 20.1 111.2 536.6 22.2 7 8 9 10 11 12 13 14 15 Savings institutions Credit unions Life insurance companies Government-sponsored enterprises 12.6 7.4 160.1 88.8 14.3 9.3 169.3 80.5 37.8 11.9 166.9 75.9 55.5 9.2 196.3 87.6 77.1 3.6 219.3 94.3 40.7 4.7 234.8 141.0 50.7 20.7 216.5 172.6 24.2 20.8 172.7 173.8 17.6 20.8 174.7 193.9 -0.4 19.4 132.6 202.8 -0.7 12.1 150.1 139.7 12 13 14 15 16 17 18 19 Finance companies REITs Brokers and dealers Funding corporations 432.9 42.3 -143.9 -31.5 440.1 50.4 -102.6 -104.2 351.8 54.7 -188.9 -226.8 326.0 62.4 -123.8 -439.7 301.1 65.8 -49.4 -189.6 325.6 62.1 -249.9 704.8 334.7 50.1 -879.7 870.4 318.3 51.1 -834.4 796.9 298.4 45.3 -757.0 756.8 261.8 39.3 -692.1 799.0 261.7 44.8 -752.9 745.8 16 17 18 19 8286.1 8812.5 9196.5 10473.8 11911.0 12030.6 12082.0 11712.1 11219.7 11178.7 10945.7 20 5096.8 715.7 73.0 5305.2 947.1 64.6 5529.7 1198.4 30.0 6024.6 1575.6 -0.5 6653.4 1902.0 18.7 6466.5 2014.3 97.6 6355.1 1985.5 51.4 6348.7 1948.9 111.1 6335.4 1905.1 121.1 6530.5 1866.4 133.1 6585.5 1826.8 161.2 21 22 23 2 3 Nonfinancial corporate business Nonfarm noncorporate business 4 5 6 20 Total assets 21 22 23 Nonfinancial corporate business Nonfarm noncorporate business State and local governments 24 25 26 Federal government Rest of the world Monetary authority 87.9 686.5 18.2 89.3 755.8 18.6 89.9 782.4 18.1 91.0 1151.6 17.0 91.4 1486.9 16.5 62.0 1132.4 16.1 64.7 1331.6 22.6 58.7 1011.5 48.4 47.3 659.2 57.2 94.3 490.3 65.6 94.0 341.1 68.2 24 25 26 27 28 29 30 31 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 875.9 533.4 176.3 161.9 4.3 813.5 557.5 56.4 194.4 5.2 804.1 563.9 24.3 210.6 5.3 799.6 667.1 -119.6 246.2 5.9 866.7 681.6 -104.9 277.9 12.1 1633.4 990.3 259.6 372.5 11.1 1661.9 908.1 221.1 522.7 10.0 1581.0 871.1 191.3 509.6 9.1 1508.7 841.9 159.5 499.3 8.0 1446.7 826.2 139.5 474.5 6.5 1382.2 789.6 128.4 456.6 7.6 27 28 29 30 31 32 33 Savings institutions Credit unions 61.1 24.9 130.9 22.8 70.2 22.4 74.7 23.0 75.7 33.4 56.6 41.5 63.9 57.7 46.1 57.0 42.4 52.6 44.0 48.3 38.9 34.9 32 33 34 35 36 Life insurance companies Private pension funds State and local govt. retirement funds 188.8 100.5 11.3 210.4 104.1 15.9 224.3 97.0 15.4 264.0 101.8 16.3 297.5 88.6 15.7 339.8 61.0 15.7 309.6 55.9 15.6 262.7 62.7 15.6 248.1 68.2 16.1 223.9 70.0 16.2 212.2 66.7 16.4 34 35 36 37 38 39 Mutual funds Money market mutual funds Government-sponsored enterprises 2.0 56.2 109.4 7.0 53.3 113.9 10.7 43.3 117.8 14.0 59.2 114.7 16.8 90.9 141.7 20.0 47.9 95.0 16.0 51.4 102.3 17.3 56.5 116.1 19.0 51.9 88.5 14.9 59.1 77.8 14.9 55.8 57.4 37 38 39 40 41 42 Finance companies REITs Brokers and dealers 104.9 29.3 43.5 79.8 40.4 40.0 29.0 51.9 61.8 -25.6 59.7 113.0 -31.3 55.4 91.1 -26.3 54.7 -97.4 -12.6 54.0 -104.6 -2.4 49.9 -78.0 -5.9 49.8 -45.0 -141.6 46.3 92.9 -159.8 47.9 101.4 40 41 42 -4210.8 -4576.9 -4838.4 -5904.6 -6700.0 -5361.4 -5241.7 -5700.2 -5743.5 -5997.6 -5700.3 43 43 Discrepancy 104 Z.1, June 10, 2010 B.100 Balance Sheet of Households and Nonprofit Organizations (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 3 4 5 6 7 8 Assets Tangible assets Real estate Households (2,3) Nonprofit organizations Equipment and software owned by nonprofit organizations (4) Consumer durable goods (4) Financial assets 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 56960.5 63859.5 71702.6 77859.2 78723.8 65558.3 62416.2 64425.1 67080.0 67570.6 68535.8 1 21666.9 24631.3 28388.6 29735.5 28036.9 23889.9 22388.2 22787.6 23080.7 23060.6 22993.6 2 17828.3 16395.1 1433.2 20575.0 18982.0 1593.0 24127.8 22084.6 2043.3 25270.9 22943.6 2327.2 23391.5 20978.0 2413.5 19110.5 17037.8 2072.8 17597.1 15684.0 1913.0 17964.8 16187.2 1777.6 18259.5 16535.3 1724.2 18204.5 16572.6 1631.8 18141.8 16507.2 1634.6 3 4 5 160.7 3678.0 173.2 3883.1 183.7 4077.0 196.5 4268.1 207.9 4437.5 220.9 4558.5 221.0 4570.1 220.7 4602.1 219.7 4601.4 219.5 4636.6 218.6 4633.1 6 7 35293.6 39228.2 43314.1 48123.8 50686.9 41668.4 40028.0 41637.5 43999.4 44510.1 45542.2 8 9 10 11 12 13 Deposits Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares 5348.5 52.1 398.4 3937.9 960.2 5732.4 57.5 344.1 4426.8 904.1 6139.9 59.9 216.9 4913.9 949.2 6753.1 65.2 173.1 5400.4 1114.5 7406.5 81.0 90.3 5888.5 1346.7 7972.8 59.8 263.0 6068.0 1581.9 7926.7 55.7 241.9 6073.7 1555.4 7828.6 51.0 280.5 6013.1 1483.9 7654.4 49.2 246.4 6000.0 1358.7 7755.7 47.7 279.3 6115.4 1313.3 7651.6 48.1 195.9 6205.9 1201.8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Credit market instruments Open market paper Treasury securities Savings bonds Other Treasury Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Other loans and advances (5) Mortgages 2723.1 77.3 408.0 203.8 204.2 383.7 703.7 1026.3 3.1 120.9 2997.9 83.7 492.6 204.4 288.2 400.3 742.4 1141.7 5.9 131.3 3327.4 98.4 464.3 205.1 259.2 496.2 820.9 1299.5 8.7 139.4 3479.4 117.5 394.1 202.4 191.7 411.9 872.0 1552.8 9.1 122.1 4089.4 107.3 266.6 196.4 70.2 687.6 896.0 2005.4 17.6 109.1 4024.9 6.0 277.8 194.0 83.8 705.1 907.2 1988.6 29.7 110.5 4460.1 5.6 544.2 193.9 350.4 484.6 937.7 2351.7 27.4 108.9 4105.5 5.1 540.6 193.5 347.1 177.3 960.7 2289.3 25.6 106.9 4153.3 4.9 649.7 192.4 457.3 166.3 971.2 2232.5 24.1 104.6 3983.1 4.6 648.3 191.2 457.1 6.8 998.9 2197.9 24.5 102.3 4180.2 4.6 795.7 190.2 605.5 94.3 1020.1 2139.8 24.9 100.8 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Corporate equities (2) Mutual fund shares (6) Security credit Life insurance reserves Pension fund reserves Equity in noncorporate business (7) Miscellaneous assets 6749.9 2911.0 475.4 1013.2 9718.9 5852.4 501.3 7483.9 3427.7 578.3 1060.4 10635.5 6758.3 553.8 8093.0 3669.1 575.3 1082.6 11460.1 8358.0 608.7 9643.7 4188.1 655.7 1163.7 12750.6 8843.4 646.1 9626.4 4596.1 866.4 1201.5 13390.7 8797.6 712.2 5913.5 3326.0 742.7 1179.8 10415.8 7326.6 766.4 5157.0 3123.0 666.3 1183.0 9895.2 6853.2 763.4 6158.3 3545.4 657.3 1204.5 10668.2 6704.0 765.6 7291.2 3947.0 671.7 1227.3 11565.0 6717.0 772.6 7463.9 4152.0 668.6 1242.1 11948.6 6507.7 788.4 7793.3 4318.7 679.5 1255.2 12345.4 6525.3 792.9 24 25 26 27 28 29 30 9865.2 11029.3 12184.0 13444.4 14366.0 14265.1 14147.4 14116.4 14105.7 14068.4 13970.4 31 9505.0 6894.4 2102.9 177.7 49.8 118.7 161.4 10569.6 7835.3 2220.1 189.1 26.7 119.0 179.2 11742.9 8874.3 2320.6 205.2 36.4 119.0 187.4 12929.5 9865.0 2416.0 224.1 86.4 123.8 214.3 13802.1 10538.5 2555.3 241.2 99.7 127.0 240.3 13843.0 10496.9 2594.1 249.3 117.7 133.2 251.7 13754.8 10496.6 2517.9 251.6 104.0 133.5 251.1 13710.1 10461.9 2487.9 258.1 118.3 134.0 250.0 13669.6 10394.3 2496.7 260.9 137.1 133.0 247.5 13602.1 10334.4 2478.9 264.4 147.7 133.7 243.1 13503.1 10240.3 2421.8 266.1 200.8 134.3 239.8 32 33 34 35 36 37 38 182.5 156.8 264.0 173.3 232.4 186.3 292.1 199.9 325.5 214.5 164.8 230.2 134.3 231.8 147.7 233.8 173.8 237.9 203.0 241.2 196.4 246.3 39 40 20.9 22.5 22.4 22.8 23.9 27.0 26.5 24.8 24.5 22.1 24.6 41 31 Liabilities 32 33 34 35 36 37 38 Credit market instruments Home mortgages (8) Consumer credit Municipal securities (9) Bank loans n.e.c. Other loans and advances Commercial mortgages (9) 39 40 Security credit Trade payables (9) Deferred and unpaid life insurance premiums 41 42 Net worth 47095.3 52830.2 59518.6 64414.9 64357.8 51293.2 48268.8 50308.7 52974.3 53502.3 54565.4 42 43 44 45 46 Memo: Replacement-cost value of structures: Residential Households Nonprofit organizations Nonresidential (nonprofits) 10679.9 10513.7 166.1 955.5 12030.3 11848.9 181.4 1058.3 13475.1 13275.9 199.3 1174.8 14440.6 14229.3 211.3 1279.5 14643.0 14430.3 212.7 1352.6 13981.2 13778.7 202.5 1424.0 13776.4 13577.1 199.4 1412.1 13557.8 13361.8 196.0 1374.6 13445.3 13251.1 194.2 1337.9 13518.6 13323.6 195.0 1331.7 13538.1 13343.0 195.1 1333.5 43 44 45 46 8377.8 8889.4 9277.3 9915.7 10403.1 10806.4 10765.4 10966.2 10934.3 11003.3 11095.9 47 562.1 594.3 641.6 649.6 618.6 474.7 448.4 458.8 484.5 486.2 491.8 48 9500.7 11146.7 13210.3 13078.6 10439.5 6540.8 5187.5 5725.3 6141.0 6238.3 6266.9 49 57.9 58.7 59.8 57.0 49.8 38.4 33.1 35.4 37.1 37.6 38.0 50 47 48 49 50 Disposable personal income (SAAR) Household net worth as percentage of disposable personal income (SAAR) Owners’ equity in household real estate (10) Owners’ equity as percentage of household real estate (11) (1) Sector includes farm households and domestic hedge funds. (2) At market value. (3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land. (4) At replacement (current) cost. (5) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds. (6) Value based on the market values of equities held and the book value of other assets held by mutual funds. (7) Net worth of noncorporate business (table B.103, line 31) and owners’ equity in farm business and unincorporated security brokers and dealers. (8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 22. (9) Liabilities of nonprofit organizations. (10) Line 4 less line 33. (11) Line 49 divided by line 4. 105 Z.1, June 10, 2010 B.102 Balance Sheet of Nonfarm Nonfinancial Corporate Business Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 With tangible assets stated at either market value or replacement cost: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Assets Tangible assets Real estate (1) Equipment and software (2) Inventories (2) Financial assets Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs Commercial paper Treasury securities Agency- and GSE-backed securities Municipal securities Mortgages Consumer credit Trade receivables Mutual fund shares (1) Miscellaneous assets Liabilities 20218.5 21820.0 24731.7 27121.8 28984.4 27725.5 26968.9 26521.2 26449.3 26333.5 26410.1 1 10134.3 10919.0 12870.0 14505.1 15279.6 14224.9 13525.0 12892.2 12604.7 12264.8 12191.2 2 5458.0 3351.3 1324.9 5989.0 3481.8 1448.1 7661.6 3651.0 1557.5 8950.2 3890.5 1664.4 9407.2 4084.3 1788.1 8192.3 4287.0 1745.6 7549.9 4287.8 1687.3 6957.4 4281.3 1653.6 6706.0 4261.2 1637.5 6345.9 4254.9 1663.9 6263.6 4234.4 1693.1 3 4 5 10084.2 10901.1 11861.7 12616.7 13704.8 13500.6 13444.0 13629.0 13844.7 14068.8 14218.9 6 38.1 191.7 362.8 298.3 6.0 75.7 33.7 11.2 35.4 51.8 59.0 1701.8 119.3 7099.5 53.7 194.2 400.5 308.6 6.4 95.0 34.0 11.3 31.8 66.6 59.2 1830.6 130.1 7678.9 63.6 267.8 450.4 348.2 14.6 111.0 52.1 17.4 32.1 68.3 59.6 2108.2 140.0 8128.6 49.3 150.9 497.0 416.3 15.5 122.7 45.5 15.2 28.1 59.8 57.6 2090.0 180.7 8888.1 50.3 141.9 441.3 544.4 8.1 69.5 38.3 12.8 29.2 41.4 58.6 2253.0 191.1 9825.1 25.2 52.1 387.0 702.6 7.5 60.1 30.8 10.3 26.6 34.3 59.8 2126.6 125.8 9852.1 26.6 75.5 402.2 707.4 7.8 40.6 40.6 6.9 23.2 32.5 55.0 2113.9 128.1 9783.5 43.0 126.6 413.2 692.2 8.3 47.0 46.1 12.0 22.7 30.7 53.8 2154.6 152.1 9826.6 43.5 187.7 532.2 650.3 9.5 40.1 46.4 12.1 24.4 29.0 53.0 2164.9 178.0 9873.5 49.1 247.8 555.4 630.8 9.9 48.1 48.2 12.7 27.1 27.2 57.2 2088.5 189.7 10077.1 47.1 316.3 566.0 563.3 9.8 43.2 50.1 13.4 26.7 25.4 53.5 2108.7 204.7 10190.6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 9867.4 10349.3 11145.3 11781.9 12872.6 13429.7 13533.4 13597.2 13640.9 13721.4 13816.8 21 22 23 24 25 26 27 28 Credit market instruments Commercial paper Municipal securities (3) Corporate bonds (4) Bank loans n.e.c. Other loans and advances Mortgages 4970.8 82.5 163.9 2900.1 548.3 769.3 506.7 5168.1 97.8 169.2 2975.5 542.7 824.0 558.9 5494.1 90.1 176.8 3032.2 508.7 932.5 753.8 5963.3 112.5 182.2 3247.8 517.9 1061.7 841.2 6724.5 123.8 190.3 3558.9 609.4 1350.2 891.8 7100.2 131.5 192.9 3763.5 677.5 1405.4 929.4 7135.6 106.9 193.3 3908.3 652.9 1349.4 924.7 7142.8 86.2 194.9 4007.4 618.7 1314.8 920.8 7111.2 73.0 196.8 4075.0 580.6 1278.2 907.6 7113.2 59.1 198.1 4145.0 553.5 1261.2 896.3 7206.4 74.6 198.4 4248.2 554.2 1250.8 880.3 22 23 24 25 26 27 28 29 30 31 Trade payables Taxes payable Miscellaneous liabilities 1402.7 81.2 3412.7 1499.9 88.0 3593.3 1699.4 86.2 3865.6 1813.0 85.4 3920.2 1898.9 35.8 4213.4 1740.9 39.0 4549.6 1665.5 40.7 4691.6 1654.8 35.1 4764.5 1655.7 42.4 4831.6 1695.9 37.6 4874.6 1665.7 49.4 4895.3 29 30 31 32 Net worth (market value) 10351.1 11470.7 13586.4 15339.9 16111.8 14295.8 13435.6 12924.0 12808.4 12612.2 12593.3 32 122.9 4634.0 136.0 5126.0 152.3 5714.1 164.8 6228.6 168.0 6588.9 160.6 7209.7 158.2 7211.5 155.7 7079.0 154.4 6945.9 155.3 6968.6 155.5 7032.5 33 34 10845.2 48.0 45.8 104.8 12088.6 45.1 42.8 105.4 12686.6 40.4 43.3 93.4 14602.3 38.9 40.8 95.2 15725.9 41.7 42.8 97.6 10036.4 49.7 70.7 70.2 8975.2 53.1 79.5 66.8 10298.4 55.3 69.4 79.7 11834.2 55.5 60.1 92.4 12464.9 56.4 57.1 98.8 13100.1 57.2 55.0 104.0 35 36 37 38 17556.9 18700.2 20093.5 21356.7 22955.3 23183.2 23160.4 23319.4 23550.1 23815.3 24011.7 39 7472.7 3033.0 3170.5 1269.2 7799.1 3162.9 3246.6 1389.6 8231.8 3340.1 3372.4 1519.3 8740.0 3579.5 3546.4 1614.2 9250.5 3883.7 3703.2 1663.6 9682.6 4204.9 3819.6 1658.2 9716.4 4267.5 3816.9 1632.0 9690.4 4323.7 3814.5 1552.2 9705.4 4377.8 3813.4 1514.1 9746.6 4429.2 3818.7 1498.7 9792.8 4470.9 3828.0 1493.8 40 41 42 43 33 34 35 36 37 38 Memo: Replacement-cost value of structures: Residential Nonresidential Market value of equities outstanding (includes corporate farm equities) Debt/net worth (percent) (5) Debt/equities (percent) (6) Equities/net worth (percent) (7) With tangible assets stated at historical cost: 39 40 41 42 43 Assets (8) Tangible assets Real estate Equipment and software Inventories 44 Net worth (historical cost) (9) 7689.6 8350.9 8948.2 9574.8 10082.7 9753.5 9627.0 9722.3 9909.2 10093.9 10194.9 44 45 46 47 Memo: Historical-cost value of structures: Residential Nonresidential Debt/net worth (percent) (10) 54.8 2644.6 64.6 59.2 2758.5 61.9 64.0 2900.3 61.4 68.7 3106.1 62.3 73.1 3372.7 66.7 76.6 3682.9 72.8 77.2 3746.8 74.1 77.8 3804.4 73.5 78.3 3855.7 71.8 78.9 3902.7 70.5 79.5 3946.8 70.7 45 46 47 (1) At market value. (2) At replacement (current) cost. (3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds. (4) Through 1992, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues. (5) Line 22 divided by line 32. (6) Line 22 divided by line 35. (7) Line 35 divided by line 32. (8) Sum of lines 6 and 40. (9) Line 39 less line 21. (10) Line 22 divided by line 44. 106 Z.1, June 10, 2010 B.103 Balance Sheet of Nonfarm Noncorporate Business Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 1 2 Assets Tangible assets 2004 2005 2006 2007 2008 Q1 Q2 2009 Q3 Q4 2010 Q1 7875.2 8957.5 10928.7 11872.4 12276.2 11124.1 10613.4 10409.5 10351.6 10077.3 10021.2 1 6138.6 6851.9 8386.8 8815.2 8743.1 7382.8 6924.0 6785.4 6805.2 6599.2 6613.2 2 5656.0 4335.8 1320.2 6339.7 4908.8 1430.9 7839.3 6032.1 1807.3 8228.9 6139.4 2089.6 8123.3 5953.8 2169.5 6734.6 4869.4 1865.2 6242.9 4536.1 1706.8 6067.4 4502.4 1565.0 6052.1 4548.0 1504.1 5814.9 4398.1 1416.7 5804.9 4416.7 1388.2 3 4 5 412.8 37.9 375.0 435.9 39.5 396.4 465.5 42.9 422.6 498.7 46.2 452.5 525.7 47.8 477.9 556.4 49.7 506.7 592.3 50.0 542.4 631.0 50.0 581.0 667.0 48.8 618.1 696.8 48.0 648.7 719.2 47.9 671.3 6 7 8 3 4 5 Real estate (1) Residential Nonresidential 6 7 8 Equipment and software (2) Residential (3) Nonresidential 9 Inventories (2) 69.7 76.2 82.0 87.6 94.1 91.9 88.8 87.0 86.2 87.6 89.1 9 10 Financial assets 1736.6 2105.6 2541.8 3057.2 3533.1 3741.2 3689.4 3624.1 3546.4 3478.1 3407.9 10 172.9 313.8 63.6 279.2 300.6 66.5 355.5 324.1 69.0 428.6 344.4 72.2 494.3 359.3 74.3 515.9 388.0 78.7 508.6 382.7 77.6 499.5 376.1 76.2 488.6 368.2 74.6 479.1 361.2 73.2 469.3 354.1 71.7 11 12 13 44.9 2.7 26.3 0.0 50.2 4.3 30.8 0.0 56.2 4.4 36.2 0.0 56.3 5.8 34.6 0.0 59.3 5.3 42.1 0.0 62.8 5.6 44.6 0.0 62.0 5.5 43.9 0.0 60.9 5.4 43.2 0.0 59.6 5.3 42.2 0.0 58.4 5.2 41.4 0.0 57.2 5.1 40.6 0.0 14 15 16 17 337.7 774.7 56.9 2.1 715.7 364.3 1009.5 60.5 2.0 947.1 430.9 1265.5 65.3 1.8 1198.4 470.9 1644.4 66.9 1.9 1575.6 525.6 1972.8 68.6 2.2 1902.0 556.6 2089.0 70.7 4.1 2014.3 548.9 2060.1 70.5 4.1 1985.5 539.2 2023.6 70.5 4.3 1948.9 527.6 1980.2 70.6 4.6 1905.1 517.5 1942.1 71.0 4.8 1866.4 507.0 1902.9 71.4 4.8 1826.8 18 19 20 21 22 11 12 13 Checkable deposits and currency Time and savings deposits Money market fund shares 14 15 16 17 Treasury securities Municipal securities Mortgages Consumer credit 18 19 20 21 22 Trade receivables Miscellaneous assets Insurance receivables Equity investment in GSEs (4) Other 23 24 25 26 27 28 29 30 31 Liabilities Credit market instruments Bank loans n.e.c. Other loans and advances Mortgages Trade payables Taxes payable Miscellaneous liabilities Net worth (5) 3184.8 3529.0 4064.3 4646.8 5228.4 5472.2 5414.7 5342.9 5252.0 5172.8 5090.9 23 2210.2 2455.3 2786.9 3195.6 3650.3 3845.2 3796.0 3727.5 3639.3 3554.5 3482.5 24 441.7 143.1 1625.3 473.4 145.3 1836.6 629.9 149.5 2007.5 742.8 163.9 2288.9 882.3 174.9 2593.1 985.6 208.1 2651.5 948.1 207.0 2640.9 894.9 204.7 2627.8 836.7 200.1 2602.5 793.6 199.5 2561.4 751.0 197.5 2534.0 25 26 27 255.3 69.7 649.7 277.4 78.0 718.2 329.4 86.7 861.2 349.4 95.7 1006.1 378.7 99.5 1099.9 396.9 102.0 1128.1 392.4 101.4 1124.9 386.7 100.6 1128.1 379.9 99.6 1133.2 373.9 98.8 1145.6 367.8 97.9 1142.7 28 29 30 4690.4 5428.5 6864.4 7225.6 7047.8 5651.9 5198.7 5066.6 5099.6 4904.4 4930.2 31 2392.8 1052.2 2614.5 1156.4 2854.7 1278.0 3025.2 1384.6 3040.4 1455.2 2882.0 1560.1 2832.4 1574.6 2780.5 1566.3 2750.5 1563.8 2758.8 1601.9 2756.4 1654.8 32 33 47.1 45.2 40.6 44.2 51.8 68.0 73.0 73.6 71.4 72.5 70.6 34 Memo: 32 33 Replacement-cost value of structures: Residential Nonresidential 34 Debt/net worth (percent) (6) (1) At market value. (2) At replacement (current) cost. (3) Durable goods in rental properties. (4) Equity in the Farm Credit System. (5) Line 1 less line 23. Included in table B.100, line 29. (6) Line 24 divided by line 31. 107 Z.1, June 10, 2010 R.100 Change in Net Worth of Households and Nonprofit Organizations Billions of dollars; not seasonally adjusted 2003 1 2 Change in net worth (1) Net investment 2004 2005 2006 2007 2008 2009 Q1 Q2 Q3 Q4 2010 Q1 5770.4 5734.8 6688.5 4896.3 -57.1 -13064.6 -3024.4 2039.9 2665.6 528.0 1063.1 1 465.0 610.6 302.3 192.0 660.5 1124.1 97.5 -150.5 131.0 222.9 116.4 2 3 4 5 Net physical investment Capital expenditures - Consumption of fixed capital 621.0 1534.3 913.3 705.2 1678.3 973.0 768.8 1803.1 1034.3 729.0 1821.3 1092.3 589.2 1728.2 1139.0 363.7 1534.5 1170.8 0.9 291.6 290.7 39.8 330.2 290.5 80.1 371.5 291.4 84.1 375.8 291.7 -4.7 289.0 293.6 3 4 5 6 7 8 Net financial investment Net acquisition of financial assets - Net increase in liabilities -156.1 884.8 1040.9 -94.7 1054.6 1149.3 -466.5 689.3 1155.8 -537.0 723.3 1260.4 71.3 993.0 921.6 760.5 654.6 -105.9 96.6 -21.0 -117.6 -190.3 -221.3 -31.0 50.9 40.2 -10.7 138.8 101.4 -37.4 121.1 0.5 -120.6 6 7 8 5177.4 5092.9 6386.7 4694.1 -747.4 -14074.4 -3483.8 2178.0 2564.0 302.2 829.5 9 1223.0 1730.2 411.8 539.6 2319.2 1004.0 297.4 845.5 3096.2 981.5 27.5 1686.0 651.6 2135.8 311.8 498.0 -2225.9 835.0 151.2 -0.8 -4494.4 -3659.3 -1287.0 -1461.9 -1491.7 -841.3 -178.8 -464.5 347.2 928.0 257.2 -149.0 242.3 1151.7 277.2 9.1 -110.8 232.2 77.3 -212.0 -26.8 387.4 25.9 23.3 10 11 12 13 1272.9 626.8 595.5 1096.9 493.1 -3171.8 -507.5 794.6 883.6 315.5 419.7 14 -85.2 -36.8 -44.9 -35.0 -51.5 -10.9 -9.0 14.3 -27.1 9.0 -33.9 15 9 10 11 12 13 14 15 Holding gains on assets at market value (2) Real estate Corporate equities Mutual fund shares Equity in noncorporate business Life insurance and pension fund reserves Holding gains on assets at current cost (2) 16 17 Consumer durable goods Equipment and software -85.0 -0.2 -37.1 0.2 -45.1 0.2 -36.5 1.5 -52.2 0.7 -14.0 3.1 -7.9 -1.1 16.2 -1.9 -24.2 -3.0 11.4 -2.5 -30.3 -3.6 16 17 18 Other volume changes (3) 213.2 68.2 44.3 45.2 81.3 -103.4 370.9 -1.8 -2.3 -6.1 151.0 18 47095.3 8377.8 52830.2 8889.4 59518.6 9277.3 64414.9 9915.7 64357.8 10403.1 51293.2 10806.4 48268.8 10765.4 50308.7 10966.2 52974.3 10934.3 53502.3 11003.3 54565.4 11095.9 19 20 Memo: 19 20 Net worth outstanding (4) Disposable personal income (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 less disaster-related losses to fixed assets. (3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA. (4) Table B.100, line 42. 108 Z.1, June 10, 2010 R.102 Change in Net Worth of Nonfarm Nonfinancial Corporate Business Billions of dollars; not seasonally adjusted 2003 1 2 Change in net worth (1) Net investment 2004 2005 2006 2007 2008 2009 Q1 Q2 Q3 Q4 2010 Q1 668.3 1119.5 2115.7 1753.5 771.9 -1816.0 -860.3 -511.5 -115.6 -196.3 -18.9 1 185.2 276.8 -72.3 -323.9 -602.5 -578.9 -172.7 72.6 86.7 31.6 -1.8 2 3 4 5 6 7 Net physical investment Capital expenditures - Consumption of fixed capital - Inventory valuation adjustment - Nonproduced nonfinancial assets 155.4 798.2 663.7 -11.3 -9.7 232.9 878.4 689.5 -34.3 -9.7 288.1 986.8 737.5 -30.7 -8.1 381.0 1142.0 794.7 -38.0 4.4 392.4 1182.8 844.5 -44.0 -10.1 327.7 1189.8 891.5 -38.2 8.9 -20.1 232.3 227.1 21.2 4.2 -22.8 205.4 223.8 6.4 -2.0 -12.2 202.5 221.6 -3.8 -3.2 34.2 238.5 221.7 -14.7 -2.7 41.4 251.1 220.9 -8.5 -2.8 3 4 5 6 7 8 9 10 Net financial investment Net acquisition of financial assets - Net increase in liabilities 69.4 82.8 13.4 166.6 775.6 609.0 -18.6 942.6 961.2 -139.2 697.3 836.5 -208.0 1069.2 1277.3 -570.6 16.5 587.1 -119.3 -18.4 100.9 63.9 133.4 69.5 82.5 155.6 73.1 75.5 198.6 123.1 8.7 122.9 114.2 8 9 10 11 Net corporate equity issues -39.6 -122.7 -341.8 -565.7 -786.8 -336.0 -33.3 31.6 16.4 -78.1 -51.9 11 305.4 485.5 1592.8 1167.0 256.6 -1487.4 -685.6 -608.1 -263.4 -383.1 -91.3 12 286.6 18.9 473.1 12.4 1584.3 8.4 1151.2 15.8 246.4 10.1 -1428.2 -59.2 -677.9 -7.7 -622.1 14.0 -279.3 15.9 -384.9 1.7 -96.4 5.0 13 14 12 13 14 Holding gains on assets at market value (2) Real estate Mutual fund shares 15 Holding gains on assets less liabilities at current cost (2) 15.6 159.4 132.2 127.0 146.8 -3.4 5.5 19.5 7.2 2.5 -10.3 15 16 17 18 19 Equipment and software Inventories (3) Direct investment abroad - Foreign direct investment in U.S. 4.3 12.6 7.9 9.2 58.6 35.6 77.2 12.1 55.5 31.3 86.3 41.0 84.9 8.6 15.9 -17.7 62.2 60.6 61.9 38.0 119.7 -54.4 -59.4 9.3 12.5 -7.1 0.0 -0.1 4.9 14.6 0.0 0.0 -10.2 17.3 0.0 0.0 -2.7 15.2 -32.8 -22.8 -21.0 10.7 0.0 -0.0 16 17 18 19 20 Other volume changes (4) 162.0 197.9 463.0 783.4 971.0 253.7 -7.5 4.4 53.9 152.7 84.5 20 10351.1 11470.7 13586.4 15339.9 16111.8 14295.8 13435.6 12924.0 12808.4 12612.2 12593.3 21 Memo: 21 Net worth outstanding (5) (1) Sum of net investment (line 2), holding gains (lines 12 and 15), and other volume changes (line 20). (2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets. (3) Before inventory valuation adjustment. (4) Consists of statistical discontinuities and disaster-related losses to fixed assets. (5) Table B.102, line 32. 109 Z.1, June 10, 2010 R.103 Change in Net Worth of Nonfarm Noncorporate Business Billions of dollars; not seasonally adjusted 2003 1 2 Change in net worth (1) Proprietor’s net investment (2) 3 Net capital transfers paid 4 Net investment 5 6 7 Net physical investment Capital expenditures - Consumption of fixed capital 8 Net acquisition of financial assets 9 10 11 12 13 14 15 - Net increase in liabilities from: Credit market instruments Trade payables Taxes payable Miscellaneous liabilities Holding gains on real estate (3) Residential Nonresidential 2004 2005 2006 2007 2008 2009 Q1 Q2 Q3 Q4 2010 Q1 451.9 738.1 1435.9 361.2 -177.8 -1395.9 -453.1 -132.1 33.0 -195.1 25.8 1 32.8 62.8 -80.1 -8.2 -46.7 2.7 -10.8 7.4 8.8 7.8 -4.2 2 0.0 -13.9 -38.7 0.0 0.0 -8.5 -0.9 -1.8 -1.7 -1.5 -1.1 3 32.8 76.7 -41.4 -8.2 -46.7 11.2 -9.9 9.2 10.5 9.4 -3.1 4 41.6 173.5 131.9 52.2 192.2 139.9 57.4 208.4 151.0 58.9 222.3 163.4 59.5 231.1 171.7 47.2 224.6 177.5 -15.6 29.4 45.0 2.7 47.3 44.6 -2.6 41.5 44.2 -1.3 42.8 44.1 -16.0 28.0 44.0 5 6 7 79.6 369.0 436.2 515.3 475.9 208.2 -51.9 -65.3 -77.7 -68.3 -70.1 8 91.5 -25.7 -0.5 23.0 245.2 22.2 8.4 68.9 331.6 52.0 8.7 142.8 408.6 20.0 9.0 144.8 454.8 29.3 3.8 94.3 194.9 18.2 2.6 28.6 -49.2 -4.5 -0.6 -3.3 -68.5 -5.7 -0.8 3.2 -88.2 -6.8 -1.0 5.1 -84.8 -6.0 -0.8 12.5 -73.1 -6.1 -0.9 -2.9 9 10 11 12 416.9 659.9 1493.4 356.9 -143.0 -1419.3 -487.6 -176.8 -18.4 -237.8 -2.8 13 347.9 68.9 548.0 111.9 1112.1 381.3 80.1 276.8 -206.7 63.7 -1093.1 -326.2 -332.2 -155.3 -31.9 -144.9 46.7 -65.1 -149.1 -88.7 19.3 -22.1 14 15 16 Holding gains on assets at current cost (3) 1.8 7.7 9.0 12.5 11.4 15.9 44.4 35.5 40.8 33.1 32.9 16 17 18 19 Residential equipment and software Nonresidential equipment and software Inventories -1.3 1.9 1.3 -0.4 4.4 3.7 1.3 4.4 3.3 1.2 8.9 2.5 -0.0 5.9 5.5 0.7 16.1 -0.9 0.2 45.7 -1.5 -0.1 35.1 0.4 -1.3 41.1 1.1 -0.9 32.5 1.6 -0.4 32.2 1.0 17 18 19 0.4 7.6 13.6 -0.1 0.5 4.8 0.8 1.8 1.7 1.7 -0.0 20 4690.4 5428.5 6864.4 7225.6 7047.8 5651.9 5198.7 5066.6 5099.6 4904.4 4930.2 21 20 Other volume changes (4) Memo: 21 Net worth outstanding (5) (1) Sum of proprietor’s net investment (line 2), holding gains (lines 13 and 16), and other volume changes (line 20). (2) Shown on table F.103, line 30. (3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets. (4) Consists of statistical discontinuities and disaster-related losses to fixed assets. (5) Table B.103, line 31. 110 Z.1, June 10, 2010 F.100.a Nonprofit Organizations (1) Billions of dollars 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 1 Net financial investment 53.5 42.1 21.7 8.8 23.3 11.1 52.5 48.5 83.6 9.2 1.5 -6.0 39.6 1 2 Net acquisition of financial assets 70.9 75.8 53.8 46.4 53.0 45.2 76.5 84.9 120.0 47.4 55.0 28.8 108.1 2 3 4 5 6 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs (2) 0.5 -0.2 -13.1 0.4 -1.0 5.4 4.9 3.1 1.3 -6.2 -1.2 -2.2 4.0 10.4 32.9 -1.3 1.2 -2.4 4.0 6.0 1.7 -1.5 -13.8 0.5 -2.5 0.2 1.1 0.2 2.3 0.2 1.2 0.2 8.3 1.1 9.4 1.4 2.9 0.3 -1.8 0.0 3.1 1.1 7.1 1.3 2.3 0.6 3.8 0.7 5.1 0.8 4.5 0.8 3 4 5 6 7 Credit market instruments 54.9 21.9 22.2 -17.6 10.9 25.5 16.6 38.8 36.7 23.1 36.4 46.7 32.6 7 38.2 6.4 4.5 0.0 6.6 -0.8 -5.7 13.8 2.6 0.5 9.7 0.9 5.8 4.8 4.6 -0.5 8.2 -0.7 -35.2 6.1 3.6 0.0 7.9 -0.1 -5.8 6.8 3.1 0.2 5.6 0.9 12.4 5.1 2.3 0.3 4.5 0.9 4.7 6.4 2.9 0.4 2.4 -0.1 2.0 16.4 7.6 0.1 11.9 0.9 4.1 13.9 6.4 0.0 11.7 0.6 1.3 8.9 4.1 -0.1 8.3 0.6 3.0 11.6 5.4 0.1 15.4 0.9 4.7 17.5 8.1 0.1 15.4 0.8 12.4 5.4 2.5 0.0 10.5 1.7 8 9 10 11 12 13 5.2 -1.0 16.1 2.6 15.0 1.2 -18.6 -3.3 18.6 0.7 8.9 -0.7 45.1 1.5 -10.4 1.3 21.0 2.4 -30.6 -1.0 -40.7 0.4 -67.4 -3.3 15.4 -1.0 14 15 2.8 2.8 2.8 2.8 2.6 2.6 2.0 2.0 1.1 1.1 0.8 1.8 2.0 2.1 1.5 1.6 3.4 3.5 3.7 2.6 4.6 4.6 1.1 1.1 4.3 4.3 16 17 -0.1 18.6 -3.9 21.0 -6.0 24.5 15.2 20.5 10.6 1.2 7.0 15.0 0.2 10.1 10.2 38.0 8.4 24.4 9.7 38.3 12.5 24.7 12.0 31.2 16.3 25.0 18 19 17.3 33.6 32.1 37.6 29.7 34.1 24.0 36.4 36.3 38.2 53.5 34.7 68.5 20 7.5 11.7 11.8 14.3 10.0 13.8 2.4 -0.6 11.0 10.6 23.4 13.5 19.3 21 8 9 10 11 12 13 Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Mortgages 14 15 Corporate equities Mutual fund shares 16 17 Security credit Trade receivables (2) 18 19 Equity in noncorporate business Miscellaneous assets (2) 20 21 Net increase in liabilities Credit market instruments 22 23 24 25 Municipal securities Bank loans n.e.c. Other loans and advances Commercial mortgages 1.5 0.2 -0.0 5.8 3.2 -5.2 -0.0 13.8 3.0 -1.1 0.3 9.7 3.8 -2.8 0.4 12.9 2.4 2.4 -0.2 5.4 1.1 5.0 0.1 7.7 3.2 6.4 0.1 -7.4 0.2 8.9 -0.1 -9.6 6.1 0.2 0.0 4.7 7.1 4.8 -0.2 -1.2 11.8 1.2 -0.1 10.5 10.4 -6.2 0.1 9.3 5.8 0.1 -0.3 13.7 22 23 24 25 26 27 Trade payables Miscellaneous liabilities (2) 2.4 7.4 16.2 5.8 9.3 10.9 9.4 13.8 5.9 13.8 6.0 14.3 5.2 16.5 7.9 29.1 8.0 17.3 8.9 18.7 8.7 21.4 4.1 17.0 3.8 45.4 26 27 (1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts. (2) Not included in table F.100. 111 Z.1, June 10, 2010 L.100.a Nonprofit Organizations (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs (2) 6 Credit market instruments 7 8 9 10 11 12 Open market paper Treasury securities Agency- and GSE-backed securities Municipal securities Corporate and foreign bonds Mortgages 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 590.7 710.5 742.1 828.1 890.2 957.1 1025.5 1214.0 1414.1 1607.3 1793.9 1974.7 2003.8 1 17.0 1.5 15.9 1.7 15.9 6.8 20.8 4.8 17.3 0.6 19.6 2.5 21.3 11.1 52.5 1.3 22.5 8.7 56.5 7.3 24.1 7.1 42.7 7.8 21.6 7.3 43.8 8.0 23.9 7.5 45.1 8.2 32.1 8.6 54.5 9.6 35.0 8.9 52.7 9.6 38.1 10.0 59.8 10.9 40.4 10.6 63.6 11.6 45.5 11.4 68.1 12.5 2 3 4 5 229.3 251.2 273.4 255.9 266.8 292.3 308.9 347.7 384.4 407.6 443.9 490.6 523.2 6 93.6 55.7 26.3 0.1 51.1 2.6 87.9 69.5 28.9 0.6 60.8 3.5 93.7 74.3 33.5 0.1 69.0 2.8 58.5 80.3 37.1 0.2 77.0 2.8 52.7 87.1 40.3 0.4 82.6 3.7 65.0 92.2 42.6 0.8 87.1 4.6 69.7 98.5 45.5 1.1 89.5 4.5 71.7 114.9 53.1 1.2 101.4 5.3 75.8 128.8 59.5 1.3 113.1 6.0 77.1 137.6 63.6 1.2 121.4 6.6 80.2 149.2 69.0 1.3 136.8 7.4 84.9 166.8 77.1 1.5 152.2 8.3 97.3 172.2 79.6 1.5 162.6 10.0 7 8 9 10 11 12 145.8 10.2 203.0 15.8 197.5 15.3 214.6 15.9 241.1 17.7 270.2 18.5 308.2 19.0 397.1 24.6 494.7 30.4 604.9 34.5 692.0 38.7 769.3 42.7 708.6 38.8 13 14 13 14 Corporate equities Mutual fund shares 15 16 Security credit Trade receivables (2) 25.7 25.7 28.5 28.5 31.1 31.1 33.1 33.1 34.3 34.3 35.0 36.1 37.1 38.1 38.6 39.7 42.0 43.2 45.8 45.8 50.3 50.3 51.5 51.5 55.8 55.8 15 16 17 18 Equity in noncorporate business Miscellaneous assets (2) 26.1 92.0 22.2 112.9 16.2 137.4 31.4 158.0 42.0 159.2 49.0 174.2 49.2 184.3 59.4 222.2 67.8 246.7 77.5 285.0 90.0 309.7 102.0 340.9 118.3 365.9 17 18 253.8 287.5 319.5 357.1 386.8 421.0 444.9 481.4 517.7 555.8 609.3 644.1 712.5 19 154.4 166.1 177.9 192.3 202.3 216.1 218.5 217.9 228.9 239.5 262.9 276.4 295.7 20 19 20 Liabilities Credit market instruments 21 22 23 24 Municipal securities Bank loans n.e.c. Other loans and advances Commercial mortgages 79.6 15.5 0.3 59.0 82.7 10.3 0.3 72.8 85.7 9.2 0.5 82.5 89.5 6.4 0.9 95.5 91.9 8.8 0.7 100.9 93.0 13.8 0.8 108.5 96.1 19.9 0.9 101.5 96.4 28.8 0.8 91.9 102.4 29.0 0.9 96.6 109.6 34.1 0.7 95.1 121.3 35.3 0.6 105.6 131.7 30.2 0.7 113.7 137.5 30.3 0.4 127.5 21 22 23 24 25 26 Trade payables Miscellaneous liabilities (2) 41.3 58.2 57.4 63.9 66.8 74.8 76.2 88.6 82.1 102.5 88.1 116.8 93.2 133.3 101.1 162.4 109.1 179.7 118.0 198.4 126.8 219.7 130.9 236.8 134.7 282.1 25 26 (1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts. (2) Not included in table L.100. 112 Z.1, June 10, 2010 F.106.c Consolidated Statement for Federal, State, and Local Governments Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 1 2 3 4 5 6 7 8 9 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 Current receipts, NIPA basis Personal current taxes Taxes on production and imports Taxes on corporate income Taxes from the rest of the world Contributions for govt. social insurance Income receipts on assets Current transfer receipts Current surplus of government enterprises 3265.7 1047.8 863.4 292.0 10.0 831.7 100.3 119.3 1.2 3659.3 1208.6 930.2 395.9 12.1 877.4 111.9 126.7 -3.5 3995.2 1352.4 986.8 454.2 14.0 926.4 129.6 136.0 -4.2 4209.2 1490.9 1028.7 426.7 14.2 964.2 143.3 147.7 -6.6 4057.6 1432.4 1047.3 263.3 15.0 995.6 144.2 166.7 -6.9 3743.7 1101.7 1023.9 289.5 12.3 971.0 164.3 189.0 -8.1 3775.0 1187.3 1018.8 244.2 13.5 974.8 156.5 190.7 -10.7 3728.4 1082.6 1019.6 281.2 12.1 976.0 166.5 199.3 -8.8 3708.5 1071.0 1023.1 296.7 10.8 967.6 165.7 180.0 -6.3 3763.0 1066.1 1034.1 336.0 13.1 965.6 168.6 186.0 -6.5 3861.5 1083.0 1044.8 393.6 13.3 986.0 159.4 187.0 -5.4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Current expenditures, NIPA basis Consumption expenditures Government social benefits Other current transfer payments Interest payments Subsidies - Wage accruals less disbursements 3653.5 1860.4 1409.2 30.9 306.6 46.4 0.0 3916.4 1977.9 1494.0 40.9 342.7 60.9 0.0 4147.9 2093.3 1596.1 34.9 372.2 51.4 0.0 4424.0 2214.9 1701.1 42.2 411.0 54.8 0.0 4740.3 2386.9 1859.2 44.8 395.9 53.5 0.0 4989.3 2416.9 2087.7 46.0 379.1 59.6 0.0 4780.6 2378.6 1969.7 39.5 337.3 55.5 0.0 5021.9 2409.0 2123.5 51.7 382.8 54.9 0.0 5077.0 2431.0 2120.8 53.7 403.8 67.7 0.0 5077.8 2449.1 2136.8 39.0 392.4 60.3 0.0 5196.6 2477.8 2199.1 55.9 403.4 60.5 0.0 10 11 12 13 14 15 16 17 18 19 20 21 Net government saving, NIPA basis + Consumption of fixed capital - Insurance and pension fund reserves (1) - Contr. for govt. soc. insur., U.S.-affiliated areas - Net capital transfers (2) -387.8 231.9 0.0 4.4 -8.6 -257.1 250.6 0.7 4.7 10.0 -152.7 269.3 0.1 4.6 -14.7 -214.8 290.4 0.1 4.8 -2.7 -682.7 310.9 -0.6 5.0 4.0 -1245.6 325.2 0.5 5.1 13.4 -1005.7 322.3 0.8 5.1 6.9 -1293.5 323.5 -0.2 5.1 10.1 -1368.5 325.2 -1.5 5.0 13.8 -1314.8 330.0 2.8 5.0 22.8 -1335.1 334.1 -4.5 5.1 20.4 17 18 19 20 21 22 = Gross saving less net capital transfers -151.7 -21.9 126.6 73.4 -380.2 -939.3 -696.1 -985.0 -1060.7 -1015.5 -1022.1 22 23 24 25 Gross investment Fixed investment Nonproduced nonfinancial assets -81.8 372.4 11.4 28.8 392.0 9.8 233.9 425.1 -2.2 146.1 461.6 11.8 -358.2 496.3 -6.2 -768.4 513.8 6.3 -574.8 500.4 -13.9 -792.0 520.4 10.6 -850.6 524.3 15.3 -856.4 510.0 13.3 -926.0 496.8 13.8 23 24 25 -465.6 91.9 -3.1 -37.8 11.6 3.9 7.7 -373.0 148.6 -14.4 21.7 11.8 5.1 10.0 -189.0 214.1 -2.7 2.7 26.4 6.8 13.5 -327.3 229.2 -0.4 20.4 37.6 4.9 9.7 -848.3 633.3 4.2 321.6 17.9 0.7 1.5 -1288.6 390.8 51.9 -154.9 11.2 6.1 11.9 -1061.3 415.2 3.5 -354.4 63.7 13.0 16.2 -1323.0 732.2 14.3 220.6 -25.2 -2.1 5.3 -1390.2 487.2 195.3 -229.2 12.3 8.4 16.5 -1379.7 -71.6 -5.4 -256.4 -6.0 4.9 9.6 -1436.7 366.2 0.7 140.2 36.5 4.2 8.3 26 27 28 29 30 31 32 49.5 10.1 21.9 0.3 6.9 9.9 3.7 -3.3 -4.2 -1.3 18.4 33.7 13.5 60.1 13.1 28.4 0.4 9.0 13.1 3.7 -7.7 2.5 0.8 19.5 40.9 -9.2 88.5 17.6 38.3 0.5 12.1 18.2 1.9 -0.0 -4.4 -1.3 2.2 5.1 77.3 32.9 -7.3 14.6 0.3 8.8 12.5 6.7 -2.9 7.1 2.2 11.2 -28.4 132.0 -1.1 -62.3 34.1 0.1 1.3 7.9 12.6 5.2 273.9 8.6 5.7 -89.6 89.8 257.7 -45.6 119.1 0.4 11.3 32.5 75.0 64.9 5.2 8.0 20.1 67.9 105.7 262.2 -33.1 194.4 -0.5 17.5 -11.3 36.7 58.4 377.1 8.4 -8.0 5.7 27.9 307.5 -52.4 160.8 1.3 -16.7 62.5 56.8 95.2 -123.6 12.6 41.3 111.8 169.6 299.4 -57.9 67.6 0.6 35.6 74.9 84.5 94.2 55.6 11.4 30.6 69.9 17.0 161.5 -39.0 53.5 0.3 8.7 4.1 121.9 11.9 -288.4 -0.4 16.5 84.3 208.2 24.2 -19.4 -66.6 0.3 7.6 3.7 84.8 13.8 -4.5 0.9 0.2 59.6 95.8 33 34 35 36 37 38 39 40 41 42 43 44 45 557.4 0.0 0.7 450.8 0.6 337.0 -0.6 113.8 0.0 45.6 1.1 59.3 521.7 0.0 0.8 385.9 0.7 214.3 -0.4 171.3 0.0 65.8 1.1 68.0 403.1 0.0 0.6 301.0 -2.7 150.9 -0.3 153.1 0.0 40.6 1.5 59.4 556.5 0.0 -0.7 412.9 -6.0 228.9 -0.4 190.4 0.0 66.5 1.2 76.6 1481.6 0.0 -0.8 1325.2 -2.4 1281.0 0.2 46.4 0.0 66.7 1.0 89.5 1679.3 3.0 -0.4 1501.9 -2.8 1397.1 0.1 107.4 0.0 92.2 1.1 81.4 1476.5 0.0 -0.0 1502.1 -0.3 1400.3 -3.2 105.3 0.0 13.1 -0.2 -38.4 2055.2 0.0 -0.0 1956.1 -1.0 1867.1 -1.1 91.1 0.0 34.5 2.1 62.6 1877.4 12.0 -1.0 1551.1 -2.8 1423.3 3.7 126.9 0.0 274.4 0.2 40.8 1308.1 0.0 -0.4 998.3 -6.9 897.7 1.2 106.3 0.0 47.1 2.4 260.7 1802.9 0.0 0.0 1580.3 -4.0 1483.8 0.3 100.1 0.0 221.8 -0.3 1.3 46 47 48 49 50 51 52 53 54 55 56 57 -69.9 -50.6 -107.3 -72.7 -22.0 -170.9 -121.3 -193.0 -210.1 -159.1 -96.0 58 -760.2 294.6 -465.6 -649.1 276.1 -373.0 -577.8 388.8 -189.0 -676.4 349.1 -327.3 -1179.1 330.8 -848.3 -1759.4 470.8 -1288.6 -1506.0 444.7 -1061.3 -1813.9 490.9 -1323.0 -1892.9 502.7 -1390.2 -1824.8 445.1 -1379.7 -1832.0 395.3 -1436.7 59 60 61 26 27 28 29 30 31 32 Net financial investment Net acquisition of financial assets Gold, SDRs, and official foreign exchange Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 33 34 35 36 37 38 39 40 41 42 43 44 45 Credit market instruments Open market paper Agency- and GSE-backed securities (3) Municipal securities Corporate and foreign bonds Mortgages Consumer credit Other loans and advances (4) Corporate equities Mutual fund shares Trade receivables Taxes receivable Miscellaneous assets 46 47 48 49 50 51 52 53 54 55 56 57 Net increase in liabilities SDR certificates Treasury currency Credit market instruments Savings bonds Other Treasury securities (5) Budget agency securities Municipal securities Multifamily residential mortgages Trade payables Insurance reserves Miscellaneous liabilities (6) 58 Discrepancy 59 60 61 Memo: Net govt. saving less fixed investment (7) Adjustment between NIPA and FOF (8) Items to be financed (9) (1) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector. Includes value of Treasury and agency- and GSE-backed securities held by state and local government employee retirement funds. (2) Table F.9, line 59 less line 12. (3) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government. (4) Excludes loans to state and local governments. (5) Excludes Treasury securities owed to state and local governments. (6) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, and foreign service retirement and disability fund. (7) Line 17 less line 24. (8) Line 18 less the sum of lines 19, 20, 21, 25, and 58. (9) Line 59 plus line 60. 113 Z.1, June 10, 2010 L.106.c Consolidated Statement for Federal, State, and Local Governments Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2004 1 Total financial assets 2 3 4 5 6 Gold, SDRs, and official foreign exchange Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 7 Credit market instruments 8 9 10 11 12 13 14 Open market paper Agency- and GSE-backed securities (1) Municipal securities Corporate and foreign bonds Mortgages Consumer credit Other loans and advances (2) 15 16 Corporate equities Mutual fund shares 17 18 19 Trade receivables Taxes receivable Miscellaneous assets 20 Total liabilities 21 22 SDR certificates Treasury currency 23 24 25 26 27 28 Credit market instruments Savings bonds Other Treasury securities (3) Budget agency securities Municipal securities Multifamily residential mortgages 29 30 31 Trade payables Insurance reserves Miscellaneous liabilities (4) 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 2271.0 2398.5 2573.9 2778.0 3375.5 3600.6 3352.5 3523.2 3646.9 3600.6 3681.4 1 54.5 68.9 173.0 66.6 131.2 35.3 93.3 184.8 71.7 141.2 34.5 94.8 211.2 78.5 154.6 36.4 113.6 248.8 83.5 164.3 41.9 433.6 266.6 84.2 165.8 94.6 278.6 277.8 90.3 177.7 40.4 332.6 279.9 87.5 169.9 46.0 404.4 269.0 87.0 171.2 97.3 346.0 274.9 89.0 175.3 94.6 278.6 277.8 90.3 177.7 92.2 300.7 283.8 91.3 179.8 2 3 4 5 6 1073.6 1133.8 1222.3 1255.2 1254.1 1511.8 1322.2 1397.6 1473.7 1511.8 1520.5 7 171.7 373.2 4.7 118.2 215.4 86.1 104.5 184.8 401.6 5.0 127.2 228.5 89.8 96.8 202.4 439.9 5.5 139.4 246.7 91.7 96.8 195.2 454.6 5.8 148.1 259.2 98.4 93.9 132.8 488.7 5.9 149.5 267.1 111.0 99.1 87.2 607.7 6.3 160.8 299.7 186.0 164.0 124.6 537.3 5.8 153.9 264.3 122.7 113.7 111.5 577.5 6.1 149.7 279.9 135.4 137.5 97.0 594.4 6.2 158.6 298.6 157.8 161.1 87.2 607.7 6.3 160.8 299.7 186.0 164.0 82.4 591.1 6.4 162.7 300.6 209.8 167.5 8 9 10 11 12 13 14 90.0 27.5 96.8 29.6 106.0 32.5 112.7 34.5 269.4 27.4 175.8 44.4 299.3 26.6 246.3 34.0 262.1 42.2 175.8 44.4 184.4 47.2 15 16 196.2 190.9 198.6 215.7 232.6 163.8 217.9 285.1 136.3 229.0 342.5 157.5 234.7 389.3 208.4 254.8 416.1 278.8 231.4 397.8 164.9 243.7 404.0 220.1 250.3 417.2 218.7 254.8 416.1 278.8 253.1 420.9 307.6 17 18 19 7281.7 7785.1 8182.3 8739.2 10220.5 11896.6 10681.9 11053.0 11529.4 11896.6 12449.1 20 2.2 26.7 2.2 27.5 2.2 28.1 2.2 27.4 2.2 26.6 5.2 26.2 2.2 26.6 2.2 26.5 5.2 26.3 5.2 26.2 5.2 26.2 21 22 5678.4 204.4 3777.2 24.3 1672.6 0.0 6064.3 205.1 3991.5 23.8 1843.9 0.0 6365.3 202.4 4142.4 23.5 1997.0 0.0 6778.2 196.4 4371.3 23.1 2187.4 0.0 8103.4 194.0 5652.3 23.3 2233.8 0.0 9605.3 191.2 7049.4 23.5 2341.2 0.0 8585.9 193.9 6106.4 22.5 2263.1 0.0 8938.4 193.5 6431.8 22.3 2290.8 0.0 9326.1 192.4 6803.5 23.2 2307.1 0.0 9605.3 191.2 7049.4 23.5 2341.2 0.0 10118.3 190.2 7534.7 23.6 2369.8 0.0 23 24 25 26 27 28 618.9 41.6 913.9 684.7 42.7 963.7 725.3 44.2 1017.2 791.8 45.4 1094.2 858.5 46.4 1183.5 950.7 47.5 1261.6 863.8 46.3 1157.1 876.5 46.9 1162.5 945.3 46.9 1179.5 950.7 47.5 1261.6 1008.1 47.4 1243.8 29 30 31 (1) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government. (2) Excludes loans to state and local governments. (3) Excludes Treasury securities owed to state and local governments. (4) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, and foreign service retirement and disability fund. 114 Z.1, June 10, 2010 F.118.b Private Pension Funds: Defined Benefit Plans Billions of dollars; quarterly figures are seasonally adjusted annual rates 2004 2005 2006 2007 2008 2009 2009 Q1 Q2 Q3 Q4 2010 Q1 1 Net acquisition of financial assets -37.1 -35.4 -46.6 -76.4 -82.4 -35.1 -71.1 -42.8 -14.1 -12.5 -48.4 1 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 0.1 -4.8 0.0 0.4 0.1 5.6 0.0 0.7 0.2 0.4 0.0 0.3 0.2 1.6 0.0 0.2 0.1 1.1 0.0 0.1 2.8 3.3 0.0 -0.0 0.0 4.7 0.0 -0.0 0.1 0.6 0.0 0.1 5.0 3.9 0.0 -0.1 6.1 4.0 0.0 -0.1 7.3 4.0 0.0 -0.1 2 3 4 5 6 Credit market instruments -10.5 33.8 34.3 84.8 71.8 114.1 124.8 88.0 144.6 98.8 106.8 6 -0.3 -6.9 7.7 0.6 1.4 16.1 0.3 11.8 2.6 -4.5 32.8 26.7 10.1 10.1 13.7 -4.1 97.9 -23.4 5.5 91.3 -20.5 2.9 69.8 -31.2 -14.4 148.3 -31.0 -10.5 82.0 -10.8 -7.6 85.0 -10.0 7 8 9 -10.8 -0.1 15.9 -0.2 19.6 -0.1 30.3 -0.5 38.2 -0.3 44.6 -0.9 49.5 -1.0 46.9 -0.4 42.7 -1.1 39.1 -1.0 40.3 -0.9 10 11 7 8 9 10 11 Open market paper Treasury securities Agency- and GSE-backed securities Corporate and foreign bonds Mortgages 12 13 Corporate equities Mutual fund shares -12.6 11.2 -49.0 -7.0 -107.9 -0.2 -209.0 20.1 -171.1 15.5 -159.6 -5.2 -186.6 -4.1 -171.4 -6.5 -158.1 -7.6 -122.4 -2.7 -143.8 -9.7 12 13 14 15 16 17 Miscellaneous assets Unallocated insurance contracts (1) Contributions receivable Other -20.9 -24.5 -2.0 5.5 -19.8 -16.4 -1.9 -1.5 26.3 12.0 -0.2 14.5 25.6 29.0 -0.2 -3.1 0.0 24.0 -0.1 -23.9 9.6 5.6 -0.4 4.4 -9.8 4.3 -0.4 -13.7 46.3 13.5 7.8 25.0 -1.7 -4.3 -4.4 7.0 3.8 8.9 -4.4 -0.7 -13.0 -10.4 -2.0 -0.6 14 15 16 17 (1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4. F.118.c Private Pension Funds: Defined Contribution Plans (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net acquisition of financial assets 60.4 67.5 58.3 58.1 27.3 18.4 8.5 9.7 39.0 16.2 29.5 1 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 0.0 -0.1 0.6 -0.1 0.2 0.7 1.9 0.3 0.2 0.5 3.4 0.4 0.4 3.0 3.4 3.1 0.3 -0.8 2.3 7.2 1.4 1.4 0.6 3.1 0.1 2.0 1.4 14.9 -1.5 -1.7 0.5 3.8 5.0 4.1 0.3 17.0 1.9 1.3 0.3 -23.2 2.2 -0.1 0.3 0.5 2 3 4 5 6 Credit market instruments 11.6 11.4 24.1 17.7 18.9 -2.5 21.2 -19.2 -14.2 2.3 10.7 6 1.3 3.1 4.1 2.4 2.1 0.7 -0.1 2.4 14.0 -0.3 5.9 1.4 0.2 5.3 7.7 -6.4 27.9 -25.7 -3.8 25.9 -9.7 -0.9 19.3 -33.6 -12.1 28.3 -31.3 -8.8 38.1 -28.1 -12.2 38.4 -18.2 7 8 9 3.3 -0.1 6.3 0.0 8.1 -0.2 9.5 1.2 4.5 1.2 -1.8 3.5 5.8 3.1 -6.3 2.3 -3.2 4.0 -3.4 4.4 -2.3 4.9 10 11 37.3 24.8 6.9 36.6 21.4 33.3 20.7 18.1 -13.6 1.7 -16.0 18.3 -48.0 9.3 -17.2 25.7 -10.2 24.1 11.4 14.0 8.8 37.4 12 13 -13.8 -10.8 -1.1 -1.9 9.4 15.0 0.0 -5.6 -25.0 -13.4 -1.8 -9.8 -8.1 -2.7 4.7 -10.1 11.3 14.2 0.8 -3.7 12.0 4.5 2.9 4.6 7.6 10.3 3.9 -6.6 19.2 6.6 10.3 2.2 12.9 0.5 -2.5 14.9 8.3 0.8 -0.2 7.7 -30.2 -17.3 -0.2 -12.6 14 15 16 17 7 8 9 10 11 Open market paper Treasury securities Agency- and GSE-backed securities Corporate and foreign bonds Mortgages 12 13 Corporate equities Mutual fund shares 14 15 16 17 Miscellaneous assets Unallocated insurance contracts (2) Contributions receivable Other (1) Includes 401(k) type plans. (2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4. F.225.i Individual Retirement Accounts (IRAs) (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Total held at: 2 3 4 Commercial banking Saving institutions Credit unions 5 6 7 8 Life insurance companies Money market mutual funds Mutual funds Other self-directed accounts 175.9 206.4 247.4 275.7 247.5 198.6 216.6 225.9 233.1 118.9 ND 1 1.9 -1.1 0.9 7.3 0.1 1.6 26.7 3.9 3.9 8.7 13.5 5.0 37.4 6.8 7.2 27.5 3.3 8.7 51.6 7.5 16.8 35.9 7.2 9.4 10.7 4.8 5.0 11.6 -6.5 3.8 ND ND ND 2 3 4 -1.2 -12.0 74.7 112.8 28.2 7.0 80.0 82.2 12.2 34.0 110.3 56.5 15.8 44.0 121.7 67.0 23.7 46.0 -125.8 252.2 1.5 -39.0 150.5 46.1 74.0 32.0 -81.3 116.0 -20.0 -76.0 280.3 -10.9 -24.8 -64.0 250.9 50.4 -23.2 -48.0 152.2 29.0 ND ND ND ND 5 6 7 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). 115 Z.1, June 10, 2010 L.118.b Private Pension Funds: Defined Benefit Plans Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2004 1 Total financial assets 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 6 Credit market instruments 7 8 9 10 11 2005 2006 2007 2008 2009 Q1 Q2 2009 Q3 Q4 2010 Q1 2132.2 2281.3 2529.5 2596.0 1853.5 2104.7 1721.0 1869.3 2039.9 2104.7 2170.2 1 5.2 36.3 0.0 4.4 5.3 42.0 0.0 5.1 5.5 42.3 0.0 5.4 5.8 44.0 0.0 5.6 5.9 45.0 0.0 5.8 8.7 48.3 0.0 5.7 5.9 46.2 0.0 5.8 5.9 46.4 0.0 5.8 7.2 47.3 0.0 5.8 8.7 48.3 0.0 5.7 10.5 49.3 0.0 5.7 2 3 4 5 434.7 468.5 502.8 587.6 659.3 773.4 690.5 712.5 748.7 773.4 800.1 6 Open market paper Treasury securities Agency- and GSE-backed securities 4.5 58.6 182.5 5.1 60.0 198.5 5.5 71.8 201.1 1.0 104.6 227.8 11.0 114.8 241.5 6.9 212.7 218.2 12.4 137.6 236.4 13.1 155.1 228.6 9.5 192.2 220.9 6.9 212.7 218.2 5.0 233.9 215.7 7 8 9 Corporate and foreign bonds Mortgages 184.7 4.4 200.6 4.2 220.2 4.1 250.6 3.6 288.7 3.2 333.3 2.3 301.1 3.0 312.8 2.9 323.5 2.6 333.3 2.3 343.4 2.1 10 11 1294.2 233.6 1392.8 253.4 1520.7 296.4 1423.8 338.6 777.1 228.0 805.2 286.3 651.1 203.7 715.7 235.7 791.4 271.7 805.2 286.3 819.1 301.6 12 13 123.9 95.0 3.7 25.2 114.3 88.8 1.8 23.7 156.4 116.5 1.6 38.2 190.7 154.2 1.4 35.1 132.4 119.9 1.3 11.3 177.1 160.5 0.9 15.7 117.7 108.7 1.2 7.8 147.3 130.0 3.1 14.1 167.8 149.9 2.0 15.8 177.1 160.5 0.9 15.7 183.8 167.9 0.4 15.5 14 15 16 17 12 13 Corporate equities Mutual fund shares 14 15 16 17 Miscellaneous assets Unallocated insurance contracts (1) Contributions receivable Other (1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4. L.118.c Private Pension Funds: Defined Contribution Plans (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2790.2 3107.3 3553.3 3814.5 2699.2 3366.3 2525.7 2861.0 3230.3 3366.3 3556.6 1 5.3 19.6 84.9 16.2 5.5 20.3 86.7 16.6 5.7 20.8 90.1 17.0 6.0 23.7 93.5 20.1 6.4 22.9 95.7 27.3 7.7 24.3 96.4 30.5 6.4 23.4 96.1 31.1 6.0 23.0 96.2 32.0 7.2 24.0 96.3 36.3 7.7 24.3 96.4 30.5 8.3 24.3 96.4 30.6 2 3 4 5 220.0 231.4 255.6 273.3 292.1 289.6 297.4 292.6 289.1 289.6 292.3 6 Open market paper Treasury securities Agency- and GSE-backed securities 24.0 54.4 52.8 26.4 56.5 53.5 26.3 59.0 67.5 26.0 64.9 68.9 26.1 70.2 76.6 19.7 98.1 50.9 25.2 76.7 74.2 24.9 81.5 65.8 21.9 88.5 57.9 19.7 98.1 50.9 16.7 107.7 46.4 7 8 9 Corporate and foreign bonds Mortgages 83.1 5.6 89.3 5.6 97.4 5.4 106.9 6.6 111.4 7.8 109.6 11.3 112.8 8.6 111.2 9.2 110.4 10.2 109.6 11.3 109.0 12.5 10 11 1044.3 1044.6 1048.9 1332.0 1204.1 1584.0 1249.5 1772.0 822.7 1138.0 1030.6 1531.0 731.5 1065.0 850.5 1253.0 979.3 1456.0 1030.6 1531.0 1099.0 1639.9 12 13 355.4 233.5 43.0 79.0 365.9 249.6 43.0 73.3 376.2 271.4 41.2 63.6 376.4 277.1 45.8 53.4 294.1 197.7 46.7 49.7 356.2 252.3 49.6 54.3 274.8 179.1 47.6 48.1 307.6 208.7 50.2 48.6 342.1 240.1 49.6 52.4 356.2 252.3 49.6 54.3 365.8 265.1 49.5 51.2 14 15 16 17 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 6 Credit market instruments 7 8 9 10 11 12 13 Corporate equities Mutual fund shares 14 15 16 17 Miscellaneous assets Unallocated insurance contracts (2) Contributions receivable Other (1) Includes 401(k) type plans. (2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4. L.225.i Individual Retirement Accounts (IRAs) (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total held at: 2 3 4 Commercial banking Saving institutions Credit unions 5 6 7 8 Life insurance companies Money market mutual funds Mutual funds Other self-directed accounts 3299.0 3652.0 4207.0 4784.0 3579.0 4230.0 3428.0 3757.0 4093.0 4230.0 ND 1 168.0 53.7 47.7 175.3 53.8 49.3 202.0 57.6 53.2 210.7 71.2 58.2 248.1 77.9 65.5 275.5 81.2 74.2 261.0 79.8 69.7 269.9 81.6 72.0 272.6 82.8 73.3 275.5 81.2 74.2 ND ND ND 2 3 4 348.1 134.0 1309.0 1238.6 381.0 141.0 1474.0 1377.6 406.0 175.0 1752.0 1561.2 424.2 219.0 1971.0 1829.7 376.8 265.0 1253.0 1292.7 388.0 226.0 1641.0 1544.1 372.1 273.0 1156.0 1216.5 378.3 254.0 1353.0 1348.1 388.2 238.0 1557.0 1481.1 388.0 226.0 1641.0 1544.1 ND ND ND ND 5 6 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). 116 Flow of Funds Matrix for 2009 Z.1, June 10, 2010 (Billions of dollars; All Sectors -- Flows) Households and Nonprofit Organizations 1 2 3 Gross saving less net cap. transfers Capital consumption Net saving (1 less 2) State and Local Governments Nonfinancial Business Domestic Nonfinancial Sectors Federal Government Rest of the World Financial Sectors Instrument Discrepancy All Sectors U S U S U S U S U S U S U S U S (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) ---- 1711.0 1164.3 546.7 ---- 1371.4 1107.2 264.2 ---- 243.8 199.6 44.2 ---- -1183.1 125.6 -1308.7 ---- 2143.0 2596.7 -453.7 ---- 425.4 -425.4 ---- 312.7 150.6 162.2 ---- 2881.1 2747.2 133.9 ---- 4 5 6 7 8 9 10 Gross investment (5 plus 11) Capital expenditures Consumer durables Residential Nonresidential Inventory change Nonproduced nonfinancial assets 1465.1 1369.1 965.8 301.4 101.9 --- -------- 1198.6 1070.6 -59.6 1135.6 -120.9 -3.7 -------- 345.7 368.7 -5.3 350.0 -13.4 -------- -1114.1 151.4 -1.6 156.8 --7.0 -------- 1895.3 2959.8 965.8 368.0 1744.3 -120.9 2.6 -------- 223.5 -2.6 -----2.6 -------- 204.1 151.2 --0.1 151.3 --- -------- 2322.9 3108.4 965.8 367.9 1895.6 -120.9 -- -------- 558.2 -227.3 ------ 11 12 13 Net financial investment Financial uses Financial sources 96.0 -100.7 -- ---196.7 128.0 206.6 -- --78.6 -23.1 123.9 -- --146.9 -1265.5 317.1 -- --1582.6 -1064.5 546.9 -- --1611.4 226.1 145.1 -- ---81.0 52.9 -1787.0 -- ---1839.8 -785.6 -1095.0 -- ---309.4 785.6 785.6 -- 14 15 16 17 18 19 20 21 22 Gold and off. fgn. exchange SDR certificates Treasury currency Foreign deposits Interbank claims Checkable dep. and currency Time and savings deposits Money market fund shares Fed. funds and security RPs ----12.1 -16.3 47.4 -268.6 -- ---------- ---23.9 -159.0 141.6 -77.3 2.4 ---------- -----19.4 10.8 6.1 11.9 ---------- 51.9 -----174.2 0.3 --- -3.0 -0.4 ------- 51.9 --11.8 -20.5 200.2 -339.9 14.3 -3.0 -0.4 ------- -48.2 ----333.2 -0.5 -22.8 -4.0 -1.6 4.0 ---202.4 ------ 0.3 3.0 4.0 -32.2 -349.5 -27.6 198.0 -154.7 -125.6 -----648.3 -7.9 375.4 -498.7 228.8 4.0 3.0 4.0 -20.4 -682.7 -7.6 375.4 -498.7 -112.9 4.0 3.0 -0.4 -202.4 -648.3 -7.9 375.4 -498.7 228.8 ---4.4 -182.0 34.4 -0.3 --341.7 23 24 25 26 27 28 29 30 31 32 Credit market instruments Open market paper Treasury securities Agency- and GSE-backed sec. Municipal securities Corporate and fgn. bonds Bank loans n.e.c. Other loans and advances Mortgages Consumer credit -411.1 -1.4 370.5 -650.8 91.7 -207.7 --5.3 -8.3 -- -240.9 ---15.0 -30.0 0.5 -171.2 -115.3 -9.2 -12.0 13.1 2.5 0.1 ----10.2 -2.6 -281.9 -72.4 --5.3 381.4 -325.7 -155.7 -114.8 -- -17.1 -45.6 49.4 -52.0 0.4 10.7 --20.0 -- 108.2 ---107.4 --0.8 --- 325.0 --171.1 -0.6 -65.7 12.6 75.0 1443.9 -1443.7 0.1 ----0.0 -- -112.4 -59.0 433.0 -529.2 92.2 -196.4 -60.5 14.1 72.4 1029.4 -72.4 1443.7 0.1 127.7 381.4 -295.7 -154.4 -286.0 -115.3 233.2 -42.9 527.7 -137.9 19.6 -108.3 --25.0 --- 199.6 57.8 ---152.9 -11.2 0.0 --- -731.4 -359.4 483.0 606.9 15.9 253.2 -774.3 -472.4 -296.7 -187.6 -1839.6 -446.7 --60.4 --585.9 -467.4 -282.6 3.4 -- -610.6 -461.3 1443.7 -60.2 127.7 -51.5 -774.3 -436.9 -282.6 -115.3 -610.6 -461.3 1443.7 -60.2 127.7 -51.5 -774.3 -436.9 -282.6 -115.3 ----------- 33 34 35 36 Corporate equities Mutual fund shares Trade credit Security credit 79.8 393.1 --74.1 --10.9 38.1 -39.9 -77.3 -- -63.3 --62.8 -- 4.6 8.0 12.2 -- --38.7 -- 0.6 -7.9 -- --53.5 -- 85.0 441.1 -57.1 -74.1 -63.3 -40.4 38.1 122.2 23.7 51.2 0.0 68.6 --0.5 0.0 113.7 27.0 -38.2 -21.8 315.5 491.8 48.9 -134.0 320.9 491.8 -44.1 -95.9 320.9 491.8 88.8 -95.9 --132.9 -- 37 38 39 40 41 Life insurance reserves Pension fund reserves Taxes payable Equity in noncorp. business Miscellaneous 27.8 81.0 --2.5 22.4 -----4.9 ----3.5 ---4.6 0.7 490.4 ---2.5 -70.5 ------ --70.4 -35.2 1.1 ---81.4 27.8 81.0 67.9 -2.5 131.5 1.1 --4.6 0.7 566.9 ----125.2 -----150.4 -----652.1 26.7 81.0 41.2 -3.2 -317.5 27.8 81.0 67.9 -2.5 -395.4 27.8 81.0 36.6 -2.5 99.1 ---31.3 -494.5 42 Sector discrepancies (1 less 4) 245.8 -- 172.8 -- -101.9 -- -69.0 -- 247.7 -- 201.9 -- 108.6 -- 558.2 -- 558.2 General notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Flow of Funds Matrix for 2009 Z.1, June 10, 2010 (Billions of dollars; All Sectors -- Assets and Liabilities) Households and Nonprofit Organizations State and Local Governments Nonfinancial Business Domestic Nonfinancial Sectors Federal Government Rest of the World Financial Sectors Instrument Discrepancy All Sectors A L A L A L A L A L A L A L A L (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) 1 2 3 Total financial assets Total liabilities and equity Total liabilities 44510.1 --- -14068.4 14068.4 17629.0 --- -38106.0 19143.7 2746.4 --- -2987.1 2987.1 1409.0 --- -9464.3 9464.3 66294.4 --- -64625.8 45663.5 15325.9 --- -11215.2 7120.1 63696.4 --- -63885.8 60208.0 145316.8 --- -139726.8 112991.5 -5590.0 --- 4 5 6 7 8 9 10 Monetary gold and SDRs IMF Position Official foreign exchange SDR certificates Treasury currency Foreign deposits Interbank claims -----47.7 -- -------- -----49.1 -- -------- -------- -------- 57.8 11.5 25.2 ----- ---5.2 26.2 --- 57.8 11.5 25.2 --96.8 -- ---5.2 26.2 --- ------40.0 -11.4 50.5 --793.8 -- 11.0 -0.1 25.3 5.2 42.7 97.1 1126.4 ------1252.6 68.9 11.4 50.5 5.2 42.7 193.9 1166.5 -11.4 50.5 5.2 26.2 793.8 1252.6 -68.9 ----16.5 599.8 86.1 11 12 13 14 Checkable dep. and currency Time and savings deposits Money market fund shares Fed. funds and security RPs 279.3 6115.4 1313.3 -- ----- 754.8 916.6 703.9 9.9 ----- 85.0 275.9 90.3 177.7 ----- 193.6 1.9 --- ----- 1312.7 7309.9 2107.5 187.7 ----- 361.0 230.0 54.3 582.8 ----- 413.5 776.4 1096.8 827.1 2093.4 8316.3 3258.6 1464.2 2087.1 8316.3 3258.6 1597.5 2093.4 8316.3 3258.6 1464.2 6.3 ---133.4 15 16 17 18 19 20 21 22 23 24 Credit market instruments Open market paper Treasury securities Agency- and GSE-backed sec. Municipal securities Corporate and fgn. bonds Bank loans n.e.c. Other loans and advances Mortgages Consumer credit 3983.1 4.6 648.3 6.8 998.9 2197.9 -24.5 102.3 -- 13602.1 ---264.4 -147.7 133.7 10577.5 2478.9 325.6 48.1 106.7 12.7 32.2 ---68.6 57.2 10892.5 59.1 --198.1 4145.0 1405.7 1488.5 3596.1 -- 1368.5 87.2 541.3 382.2 6.3 160.2 --191.3 -- 2354.7 ---2341.2 --13.5 --- 698.0 --225.5 -0.6 -177.6 108.4 186.0 7805.4 -7781.9 23.5 ----0.0 -- 6375.3 139.9 1296.3 627.2 1037.4 2358.7 -202.0 470.6 243.2 34654.8 59.1 7781.9 23.5 2803.7 4145.0 1553.4 1635.7 14173.6 2478.9 7827.4 190.0 3738.4 1307.3 60.6 2348.4 -182.7 --- 2064.0 399.8 ---1545.8 96.8 21.6 --- 38125.8 808.1 2747.3 6171.9 1705.7 6775.0 1921.8 1890.4 13869.9 2235.7 15609.7 679.1 -8083.0 -5791.3 271.6 617.9 166.9 -- 52328.4 1138.0 7781.9 8106.5 2803.7 11482.1 1921.8 2275.2 14340.5 2478.9 52328.4 1138.0 7781.9 8106.5 2803.7 11482.1 1921.8 2275.2 14340.5 2478.9 ----------- 25 26 27 28 Corporate equities Mutual fund shares Trade credit Security credit 7463.9 4152.0 -668.6 --241.2 203.0 -189.7 2605.9 -- 12464.9 -2094.6 -- 108.4 44.4 182.1 -- --632.4 -- 67.4 -72.7 -- --318.4 -- 7639.7 4386.1 2860.7 668.6 12464.9 -3286.5 203.0 2464.8 335.6 140.8 0.0 4095.1 -62.7 0.0 10123.1 2239.9 144.0 422.6 3667.6 6961.6 70.1 888.2 20227.6 6961.6 3145.5 1091.2 20227.6 6961.6 3419.3 1091.2 --273.8 -- 29 30 31 32 33 Life insurance reserves Pension fund reserves Taxes payable Equity in noncorp. business Miscellaneous 1242.1 11948.6 -6507.7 788.4 ----22.1 ----12073.4 --136.4 6497.5 6020.2 --280.9 -133.1 ------ --135.1 -145.7 47.5 ---1261.6 1242.1 11948.6 416.1 6507.7 13140.6 47.5 -136.4 6497.5 7303.9 ----3289.2 ----4137.7 ----8219.6 1194.5 11948.6 -59.9 10.2 7210.2 1242.1 11948.6 416.1 6507.7 24649.4 1242.1 11948.6 76.5 6507.7 18651.8 ---339.6 --5997.6 General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 25) and equity in noncorporate business (line 32). The matrix shows a discrepancy in column 17 for monetary gold and SDRs (line 4) because by international accounting convention, such instruments are financial assets without corresponding liabilities. 117 118 Z.1, June 10, 2010 B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 2003 2004 2005 2006 2007 2008 2009 Q1 1 Assets Q2 Q3 Q4 2010 Q1 56960.5 63859.5 71702.6 77859.2 78723.8 65558.3 62416.2 64425.1 67080.0 67570.6 68535.8 1 2 Tangible assets 21666.9 24631.3 28388.6 29735.5 28036.9 23889.9 22388.2 22787.6 23080.7 23060.6 22993.6 2 3 Financial assets 35293.6 39228.2 43314.1 48123.8 50686.9 41668.4 40028.0 41637.5 43999.4 44510.1 45542.2 3 5348.5 2723.1 5732.4 2997.9 6139.9 3327.4 6753.1 3479.4 7406.5 4089.4 7972.8 4024.9 7926.7 4460.1 7828.6 4105.5 7654.4 4153.3 7755.7 3983.1 7651.6 4180.2 4 5 14083.0 15990.0 17396.6 20357.5 20939.1 12610.7 11101.3 13194.6 15502.1 16076.6 16878.1 6 4 5 Deposits Credit market instruments 6 Equity shares at market value 7 Directly held 6749.9 7483.9 8093.0 9643.7 9626.4 5913.5 5157.0 6158.3 7291.2 7463.9 7793.3 7 8 Indirectly held 7333.1 8506.0 9303.7 10713.9 11312.7 6697.2 5944.2 7036.4 8210.8 8612.7 9084.8 8 887.3 2900.1 1300.2 1599.9 1557.3 79.9 1908.4 1028.9 3287.8 1452.9 1835.0 1761.2 99.2 2329.0 1140.1 3630.8 1567.7 2063.1 1887.3 112.6 2532.9 1334.7 4155.6 1729.9 2425.7 2129.0 138.1 2956.4 1466.8 4260.5 1660.7 2599.8 2221.0 149.1 3215.3 956.9 2471.9 903.5 1568.5 1338.3 85.6 1844.4 887.9 2158.5 757.6 1400.9 1191.8 74.7 1631.5 1037.7 2527.7 847.8 1679.9 1391.6 92.5 1986.8 1210.5 2926.7 952.6 1974.1 1622.0 110.4 2341.3 1268.1 3055.6 975.2 2080.3 1702.6 119.4 2466.9 1340.2 3232.8 999.1 2233.7 1806.5 127.8 2577.4 9 10 11 12 13 14 15 9 10 11 12 13 14 15 Life insurance companies Private pension funds Defined benefit plans Defined contribution plans State and local govt. retirement funds Federal government retirement funds Mutual funds 16 Other 13139.0 14507.9 16450.1 17533.7 18251.8 17060.0 16540.0 16508.7 16689.6 16694.7 16832.3 16 17 Liabilities 9865.2 11029.3 12184.0 13444.4 14366.0 14265.1 14147.4 14116.4 14105.7 14068.4 13970.4 17 18 Net worth 47095.3 52830.2 59518.6 64414.9 64357.8 51293.2 48268.8 50308.7 52974.3 53502.3 54565.4 18 11207.7 12756.6 13922.1 16477.2 17036.0 10356.6 9141.2 10943.0 12913.6 13384.5 14057.7 19 24.7 39.9 25.0 40.8 24.3 40.2 26.1 42.3 26.6 41.3 19.2 30.3 17.8 27.7 20.5 31.7 23.1 35.2 23.8 36.1 24.6 37.1 20 21 Memo: 19 20 21 Equity shares excluding defined benefit plans (line 6 minus lines 11, 13 and part of line 14) Equity shares (line 6) as a percent of Total assets (line 1) Financial assets (line 3) (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.
@FedFRASER